HAINANJINGLIANGHOLDINGSCO.,LTD.
ANNUALREPORT2023
March30,2024
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
HAINANJINGLIANGHOLDINGSCO.,LTD.
ANNUALREPORT2023
PartIImportantNotesThisReportisbasedonthefullAnnualReportofHainanJingliangHoldingsCo.,Ltd.(togetherwithitsconsolidatedsubsidiaries,the“Company”,exceptwherethecontextotherwiserequires).InorderforafullunderstandingoftheCompany’soperatingresults,financialpositionandfuturedevelopmentplans,investorsshouldcarefullyreadtheaforesaidfulltext,whichhasbeendisclosedonthemediadesignatedbytheChinaSecuritiesRegulatoryCommission(the“CSRC”).ThisReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.AlltheCompany’sDirectorshaveattendedtheBoardmeetingforthereviewofthisReport.Independentauditor’smodifiedopinion:
□Applicable?NotapplicableBoard-approvedfinalcashand/orstockdividendplanforordinaryshareholdersfortheReportingPeriod?Applicable□NotapplicableBonusissuefromcapitalreservesApplicable?NotapplicableTheBoardhasapprovedafinaldividendplanasfollows:Basedonthe726,950,251Shareson31December2023,acashdividendforRMB0.71(taxinclusive)per10Sharesistodistributedtotheshareholders，withnobonusissuefromeitherprofitorcapitalserves.Board-approvedfinalcashand/orstockdividendplanforpreferredshareholdersfortheReportingPeriod:
Applicable?NotapplicablePartIIKeyCorporateInformation
1.CompanyProfile
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Stockname | JLKG,JL-B | Stockcode | 000505、200505 |
| Stockexchangeforstocklisting | ShenzhenStockExchange | ||
| Contactinformation | BoardSecretary | SecuritiesRepresentative | |
| Name | GuanYing | GaoDeqiu | |
| Officeaddress | 8/F,TowerB,CapitalAgriculturalScienceandInnovationMansion,BuildingNo.1,CommunityNo.8,XinningStreet,DaxingDistrict,Beijing | 8/F,TowerB,CapitalAgriculturalScienceandInnovationMansion,BuildingNo.1,CommunityNo.8,XinningStreet,DaxingDistrict,Beijing | |
| Fax | 010-81219987 | 010-81219987 | |
| Tel. | 010-81219989 | 010-81219989 | |
| E-mailaddress | guanying@bjjlkg.cn | gaodeqiu@bjjlkg.cn | |
2.PrincipalActivitiesorProductsintheReportingPeriod
(1)Company’smainbusinessTheCompanyisprincipallyengagedinoilsandoilseedsprocessingandtrading,aswellasfoodprocessing.Withregardtooilsprocessingandtrading,theCompanyrefines,bottles,markets,importsandexportsrawoilsuponinitialpressing.Asforoilseeds,theCompanypresses,refines,bottles,markets,importsandexportsoilseedssuchassesame,soybean,corngerm,sunflowerseedsandpeanuts.FoodprocessingmainlyreferstoR&D,productionandsalesofsnackfoodandbakeryproducts.
(2)Company’smainproductsTheoilsandoilseedsprocessingbusinessisprimarilyunderthebrandsof“GuChuan”,“LvBao”,“GuBi”,“HuoNiao”,etc.,withthemainproductsbeingsoybeanoil,cornoil,sunflowerseedoil,peanutoil,rapeseedoil,flaxseedoil,oliveoil,sesameoilandpasteetc.Thefoodprocessingbusinessisprimarilyunderthebrandsof“LittlePrince”,“MSDong”,“JianqiangdeTudouzai”and“GuChuan”etc.,withthemainproductsbeingpotatochips,cakesandpastriesandbread.
(3)EmergingTrendintheIndustryThemajorindustrycategoryoftheCompanyismanufacturing,-processingindustryofagriculturalandslide-productsaccordingtoResultsofIndustryClassificationofListedCompanies(code:C13)，specifically,theindustrybelongstoisvegetableoilprocessing，whilegrossprofitrationisrelativelyhighforthefoodprocessingbusiness.Fromtheperspectiveofthevegetableoilprocessingindustry,theminorityoilssuchassunflowerseedoil,teaoil,cornoilandricebranoilshowrapidgrowthwiththeacceleratedindustrialintegrationandtheincreasingaccumulationofdifferentiatedcompetition.Fromtheperspectiveofthefoodprocessingindustry,thereisgreatpotentialforindustrialintegrationwiththe
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023diversifiedconsumptiondemandandtheconstantlyenrichedproductcategories,whilethereisonlyahandfulofmajorbrandsintheindustry.
(4)ThePositionoftheCompanyintheIndustryTheCompanyhasvarietiesofgreaterinfluencebrands.Amongthem,“GuChuan”hasbeenawardedthemostinfluentialbrandinBeijingseveraltimes,ranked307
thoverallamongthe2023Top500ChineseMostvaluableBrandsWorldBrandLab,whichbrandvaluestotaled310.62billionYuan..“GuBi”sesameoilhasbeenawardedNationalSesameFamousOilBrand,silverawardforBeijingInternationalCateringandFoodExpo,goldawardforInternationalBrand-nameProductetc,withcertaincompetitionintheindustry.“GuChuan”,“LvBao”and“GuBi”aretime-honoredbrandinBeijing,“LittlePrince”trademarkandZhejiangLittlePrinceproductshavebeenidentifiedasfamoustrademarkandfamousproductsinZhejiangprovinceformanyyears,withstrongcompetitiveinpotatochipsbulkandindividualpackagingsegment,top-rankedoneinpuffedfoodindustry.“GuChuan”breadisoneofthemajorsuppliesinnorthChinaregionofKentuckyFriedChicken,maintainingacertainindustrypositioninNorthernbakerymarket.
3.MajorAccountingDataandFinancialIndicators
(1)KeyAccountingDataandFinancialIndicatorsofthePastThreeYearsIndicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.
□Yes?No
Unit:RMB
| 31December2023 | 31December2022 | Changeof31December2023over31December2022(%) | 31December2021 | |
| Totalassets | 6,496,782,984.90 | 6,105,144,167.96 | 6.41% | 6,046,600,058.90 |
| Equityattributabletothelistedcompany’sshareholders | 3,167,503,541.44 | 3,061,661,435.05 | 3.46% | 2,915,802,291.05 |
| 2023 | 2022 | 2023-over-2022change(%) | 2021 | |
| Operatingrevenue | 11,901,009,211.63 | 12,857,874,301.72 | -7.44% | 11,763,093,835.56 |
| Netprofitattributabletothelistedcompany’sshareholders | 102,348,088.85 | 141,411,141.28 | -27.62% | 204,459,771.08 |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalitems | 82,678,972.04 | 124,297,168.33 | -33.48% | 195,422,832.45 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Netcashgeneratedfrom/usedinoperatingactivities | 109,486,954.74 | -533,230,947.03 | 120.53% | 632,240,056.44 |
| Basicearningspershare(RMB/share) | 0.14 | 0.19 | -26.32% | 0.28 |
| Dilutedearningspershare(RMB/share) | 0.14 | 0.19 | -26.32% | 0.28 |
| Weightedaveragereturnonequity(%) | 3.29% | 4.73% | -1.44% | 7.27% |
(2)KeyFinancialDatabyQuarter
Unit:RMB
| Q1 | Q2 | Q3 | Q4 | |
| Operatingrevenue | 3,206,922,214.64 | 1,616,311,993.54 | 3,217,246,365.63 | 3,860,528,637.82 |
| Netprofitattributabletothelistedcompany’sshareholders | 37,265,080.42 | 36,316,714.94 | 5,095,930.70 | 23,670,362.79 |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalitems | 35,596,909.99 | 22,498,765.62 | 4,804,225.55 | 19,779,070.88 |
| Netcashgeneratedfrom/usedinoperatingactivities | -94,878,495.30 | -42,471,050.49 | 306,204,203.22 | -59,367,702.69 |
IndicatebytickmarkwhetheranyofthequarterlyfinancialdatainthetableaboveortheirsummationsdiffersmateriallyfromwhathavebeendisclosedintheCompany’squarterlyorinterimreports.
□Yes?No
4.ShareCapitalandShareholderInformationatthePeriodEnd
(1)NumbersofOrdinaryShareholdersandPreferredShareholderswithResumedVotingRightsaswellasHoldingsofTop10Shareholders
Unit:Share
| Numberofordinaryshareholdersattheperiod-end | 58,382 | Numberofordinaryshareholdersatthemonth-endpriortothedisclosureofthisReport | 58,010 | Numberofpreferredshareholderswithresumedvotingrightsattheperiod-end | 0 | Numberofpreferredshareholderswithresumedvotingrightsatthemonth-endpriortothedisclosureofthisReport | 0 | ||
| Top10shareholders(notincludingthroughrefinancing) | |||||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage | Totalsharesheldattheperiod-end | Restrictedsharesheld | Sharesinpledge,markedorfrozen | ||||
| Status | Status | ||||||||
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| BEIJINGGRAINGROUPCO.,LTD. | State-ownedlegalperson | 39.68% | 288,439,561 | 0 | Notapplicable | 0 |
| BEIJINGSTATE-OWNEDCAPITALOPERATIONANDMANAGEMENTCOMPANYLIMITED | State-ownedlegalperson | 6.67% | 48,510,460 | 0 | Notapplicable | 0 |
| WANGYUECHENG | Domesticnaturalperson | 5.43% | 39,459,887 | 30,869,915 | Notapplicable | 0 |
| MEIJIANYING | Domesticnaturalperson | 0.36% | 2,604,203 | 0 | Notapplicable | 0 |
| WANGZHIQIANG | Domesticnaturalperson | 0.34% | 2,507,123 | 0 | Notapplicable | 0 |
| LISHERYNZHANMING | Domesticnaturalperson | 0.33% | 2,407,700 | 0 | Notapplicable | 0 |
| CHENTIANHUA | Domesticnaturalperson | 0.29% | 2,101,100 | 0 | Notapplicable | 0 |
| TONGZHENZHU | Domesticnaturalperson | 0.27% | 1,970,000 | 0 | Notapplicable | 0 |
| ZHANGXIAOXIA | Domesticnaturalperson | 0.27% | 1,949,250 | 0 | Notapplicable | 0 |
| WANGXIAOXING | Domesticnaturalperson | 0.23% | 1,654,200 | 0 | Notapplicable | 0 |
| Relatedoracting-in-concertpartiesamongtheshareholdersabove | ①BeijingState-OwnedCapitalOperationandManagementCompanyLtd.ownsanindirect100%shareofBeijingGrainGroupCo.,Ltd.,andBeijingGrainGroupCo.,Ltd.isthecontrollingshareholderoftheCompany(a39.68%holding).②WangYuechengisaDeputyGeneralManageroftheCompany.Apartfromthat,theCompanydoesnotknowwhetherthereareanyotherrelatedpartiesoracting-in-concertpartiesamongthetop10shareholders. | |||||
| Shareholdersinvolvedinsecuritiesmargintrading(ifany) | ShareholderMeiJianyingholds2,604,203sharesintheCompanythroughhisaccountofcollateralsecuritiesformargintradinginHuataiSecuritiesCo.,Ltd.ShareholderChenTianhuaholds2,093,500sharesintheCompanythroughhisaccountofcollateralsecuritiesformargintradinginFounderSecuritiesCo.,Ltd.ShareholderTongZhenzhuholds1,970,000sharesintheCompanythroughhisaccountofcollateralsecuritiesformargintradinginChinaMerchantsSecuritiesCo.,Ltd.;ShareholderWangXiaoxingholds1,654,200sharesintheCompanythroughhisaccountofcollateralsecuritiesformargintradinginSoochowSecuritiesCo.,Ltd. | |||||
Refinancingbusinessparticipatedbytheshareholdersoftop10
□Applicable?Notapplicable
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023Changesfortheshareholderscomparedwithlast-termreportingperiod?Applicable□Notapplicable
Unit:Share
| Changesfortheshareholderscomparedwithlast-termreportingperiod | |||||
| Nameoftheshareholders(fullname) | NewShareholders/Withdrawingmemberinthereportingperiod | Sharesofrefinancinghasnotyetbeenreturnedatendperiod | Sharesofshareholders’ordinaryaccount,creditaccountingholdingandrefinancinghasnotyetbeenreturnedatendperiod | ||
| Numberofshares | Proportionofthetotalsharecapital | Numberofshares | Proportionofthetotalsharecapital | ||
| TONGZHENZHU | Addition | 0 | 0.00% | 1,970,000 | 0.27% |
| CHENTING | Withdraw | 0 | 0.00% | 236,869 | 0.03% |
(2)TotalPreferredShareholdersandShareholdingsofTop10
□Applicable?NotapplicableNopreferredshareholdersintheReportingPeriod.
(3)OwnershipandControlRelationsbetweentheActualControllerandtheCompanydisclosedasboxchart
5.OutstandingBondsattheDatewhentheReportwasAuthorizedforIssue
□Applicable?Notapplicable
(1)BasicinformationofBond
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| NameofBond | AbbreviationofBonds | Bondcode | IssueDate | MaturityDate | BondBalance(intenthousandsYuan) | Interest |
| HainanJingliangHoldingsCo.,Ltd2023publicissuanceofcorporatebondsforqualifiedinvestors(1stissue) | 23Jingliang01 | 148434 | 21-22Aug2023 | 22Aug2026 | 30,000 | 2.88% |
| Interestpaymentofcorporatebondinthereportingperiod | No | |||||
(2)Updatedfollow-upratingandchangesofratingoncorporatebondsCorporatecreditratingisAA+inthereportingperiod.
（3）Majordataandfinancialindicatorsattheendingofthereportingperiodforthelasttwoyears
Unit:tenthousandsYuan
| Item | 2023 | 2022 | Increase/decreaseyearonyear |
| Asset-liabilityratio | 44.97% | 43.28% | 1.69% |
| Netprofitafterdeductingnon-recurringgainsandlosses | 8,378.37 | 14,713.74 | -43.06% |
| EBITDA’stotaldebtratio | 18.20% | 22.08% | -3.88% |
| Interestcoverratio | 3.26 | 5.90 | -44.73% |
PartIIISignificantEventsNosignificantchangesoccurredtotheCompany’soperationsintheReportingPeriod.Forfurtherinformation,seethefullAnnualReport2023.PartIVFinancialReport2023Semi-AnnualFinancialReportisauditedbyIndependentauditor.
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
Auditor’sReport
TianyuanquanCertifiedPublicAccountants[2024]AuditNo000468
AllShareholdersofHainanJingliangHoldingsCo.,Ltd.:
IAuditOpinionWehaveauditedthefinancialstatementsofHainanJingliangHoldingsCo.,Ltd.(hereinafterreferredtoasthe"JingliangHoldings"),whichcomprisetheconsolidatedbalancesheetandbalancesheetofparentcompanyasatDecember31,2023,consolidatedincomestatementandincomestatementofparentcompany,consolidatedstatementcashflowstatementandcashflowstatementofparentcompany,consolidatedstatementofchangesinshareholders’equityandstatementofchangesinshareholders’equityofparentcompanyandnotestorelevantfinancialstatementsin2023.Inouropinion,theattachedfinancialstatementsarepreparedinaccordancewithAccountingStandardsforBusinessEnterprisesandAccountingSystemforBusinessEnterprisesinallmajoraspects,andfairlyreflecttheJingliangHoldings’sconsolidatedandparentcompany'sfinancialpositionasatDecember31,2023,aswellastheconsolidatedandparentcompany'soperationresultsandcashflowsin2023.IIBasisofFormingAuditOpinionsWeconductedtheauditworkinaccordancewiththeregulationsofAuditingStandardsforChineseCertifiedPublicAccountant."ResponsibilityofCertifiedPublicAccountantforAuditingFinancialStatements",thepartoftheauditreportfurtherelaboratedourresponsibilitiesunderthesestandards.InaccordancewiththecodeofprofessionalethicsfortheChineseCertifiedPublicAccountants,weareindependentofJingliangHoldingsandperformotherresponsibilitiesinthefieldofprofessionalethics.Webelievedthattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinions.IIIKeyAuditMattersWeconsideredthatkeyauditmattersarethemostimportantitemstoauditthecurrentfinancialstatementsaccordingtoourprofessionaljudgment.Thesemattersshallbedealtwithinthecontextofanauditandopinionofthefinancialstatementsasawholeandwedonotcommentonthesemattersinisolation.Weidentifiedthefollowingitemsaskeyaudititemstobecommunicatedintheauditreport.(I)Revenueconfirmation
1.ItemsDescriptionIn2023,asstatedinthe"NoteV,(44)"ofthefinancialstatementsofJingliangHoldings,theoperatingincomeintheconsolidatedincomestatementofJingliangholdingsisRMB11,901,009,211.63,whichismainlygeneratedfromoilandoilseedtrading,salesandtrade,foodproduction,processingandsales.The
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023occurrenceandintegrityofoperatingrevenuehaveasignificantimpactontheoperatingresultsofJingliangHoldings.Therefore,wedeterminetheoccurrenceandintegrityofoperatingrevenueaskeyauditmatters.2AuditResponseThemainauditproceduresweperformedareasfollows:
(1)UnderstandingandtestingthewholeprocessandrelevantsystemofsalesandcollectioncycleofJingliangHoldings,andconductingcontrollingtestonsalesandcollectioncycleandevaluatingtheeffectivenessofitsdesignandoperation;
(2)CheckingwhethertheaccountingpoliciesandspecificmethodsofrevenueconfirmationofJingliangHoldingsandrevenueconfirmationtimingconformtotherequirementsoftheaccountingstandardsforbusinessenterprises;
(3)Carryingouttheanalysisprocedurefortheoperatingincome,analyzingtherationalityofthechangeofthegrossprofitrateofJingliangHoldings,comparingwiththesimilarindicatorsinthepreviousperiod,andidentifyingandinvestigatingthecausesofabnormalfluctuations.
(4)Takesamplingmethodtocheckthecontracts,invoices,deliveryordersandotheroriginaldocumentsrelatedtorevenueconfirmationofJingliangHoldings;
(5)Checkingtherelevantcontracts,invoices,issueorderandotherrevenuerecognitiondocumentsfortheoperatingincomerecognizedbeforeandafterthebalancesheetdateofJingliangHoldings,executingthecut-offtestprocedure,andevaluatingwhetherthesalesincomeofJingliangHoldingsisrecordedintheappropriateaccountingperiod;
(6)Performingconfirmationproceduresforaccountsreceivableandconductingsubstitutiontestsonunrespondedsamples.(II)GoodwillImpairmentProvision
1.ItemsDescriptionAsatDecember31,2023,asstatedin"NoteV.18"ofconsolidatedfinancialstatementofJingliangHoldings,thegoodwillamountintheconsolidatedbalancesheetofthecompanyisRMB191,394,422.51,whichwasgeneratedfromacquiringZhejiangLittlePrinceFoodCo.,Ltd.(hereinafterreferredtoasthe“ZhejiangLittlePrince”)in2015.Themanagementconductedimpairmenttestonthementionedgoodwillaccordingtotheaccountingpolicyof"NoteIII,(23)"ofthefinancialstatementsofJingliangHoldings,determinedtherecoverableamountoftheassetgroupcontainingthegoodwillbasedonthepredictionofpresentvalueoftheexpectedfuturecashflowonthebasisofthecontinuousoperation,andconsideredthatprovisionforimpairmentofgoodwillisnotrequired.Thekeyparametersusedintheimpairmenttestofgoodwillincludedexpectedrevenuegrowthrate,pre-taxoperatingprofitrate,anddiscountrateetc.,whichmayinvolvesignificantaccountingestimationand
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023judgment.Themanagementfacetheriskofpreferencewhenselectingassumptionsandestimations.Therefore,wedeterminedtheimpairmentprovisionofgoodwillasakeyauditmatter.
2.AuditResponseThemainauditproceduresweperformedareasfollows:
(1)Understandingandevaluatingthedesignofinternalcontrolrelatedtothegoodwillimpairmenttestandeffectivenessofkeycontrolexecution,whichincludestheadoptedkeyassumptionsandparametersandtherelevantinternalcontrol;
(2)Evaluatingtheappropriatenessofthegoodwillimpairmenttestmethodadoptedbythemanagement.Weevaluatetherationalityofthemainassessmentassumptionsandthekeyparametersusedinthegoodwillimpairmenttest,suchastheexpectedincome,growthrate,pre-taxoperatingprofitrate,anddiscountratethroughanalyzingofthemaineconomicindicatorsofpastyears,interviewingwiththemanagement,consideringthemarketdevelopment,andcomparingtheindustryormarketdata.
(3)Testingtheaccuracyofthecalculationprocessofgoodwillimpairmenttest;
(4)Evaluatingtheaccuracyofthepredictionoftherealizedannualdata.Forexample,comparingtheexpectedfuturecashflowofthepreviousyearoracquisitiontimewiththeactualbusinessperformanceinthecurrentyearandconsideringanymanagementbiasthatexistintheprocessofgoodwillimpairmenttestthatconductedbymanagement.
(5)Forthegoodwillimpairmenttestreportpreparedbythethird-partyexpertsemployedbytheauditedunit,inadditiontotheauditprocedures(1)to(4)above,theauditteamalsoevaluatesthecompetency,professionalqualityandobjectivityofthethird-partyexpertsandrecordstheevaluationresultsintheauditdraft,whichincludesobtainingtheprofessionalqualificationofthethird-partyexperts,suchashavingthesecuritiesperiodWehaveevaluatedtheaccuracyoftheforecastdatafortheyearofrealization,suchasbusinesslicenseofanappraisalinstitutionwithsecuritiesandfuturesqualificationandthequalificationcertificateoftheassetappraiser,etc.IVOtherInformationThemanagementofJingliangHoldings(hereinafterreferredtoasmanagement)wasresponsibleforotherinformation,whichincludesinformationcoveredinJingliangHoldings2023annualreport,butnotthefinancialstatementsandourauditreport.Ourauditopinionsonthefinancialstatementsdidn’tcoverotherinformation,andwedonotpublishanyformofassuranceconclusionofotherinformation.Incombinationwithourauditofthefinancialstatements,ourresponsibilityistoreadotherinformationandconsideranymaterialinconsistenciesormaterialmisstatementappearsbetweenotherinformationandthefinancialstatementsorthesituationwelearnedintheauditprocessBasedontheworkwehaveperformed,weareexpectedtoreportthefactofrecognizedmaterial
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023misstatementinotherinformation.Inthisrespect,wedonothaveanymatterstoreport.VResponsibilitiesofManagementandGovernanceforFinancialStatementsThemanagementisresponsibleforpreparingtheconsolidatedfinancialstatementsinaccordancewiththeAccountingStandardsforBusinessEnterprisestoachievefairreflectionandtodesign,implementandmaintainnecessaryinternalcontrolstoensurethattheconsolidatedfinancialstatementsarefreefrommaterialmisstatementduetofraudorerror.Whenpreparingthefinancialstatements,managementisresponsibleforassessingthesustainableoperationcapabilityofJingliangHoldings,disclosingmattersrelatedtothesustainableoperation(ifapplicable),andapplyingthecontinuingoperationassumption,unlessmanagementplanstoliquidatetheJingliangHoldings,terminateoperations,orhavenootherrealisticoptions.ThegovernanceisresponsibleforsupervisingthefinancialreportingprocessofJingliangHoldings.VITheResponsibilityofCertifiedPublicAccountantsforAuditingFinancialStatementsOurgoalistoobtainreasonableassuranceonnomaterialmisstatementduetofraudorerrorinthewholefinancialstatementsandtoissueanauditreportcontainingauditopinions.Reasonableassurancewasahighlevelofassurance,butitdoesnotguaranteethatthematerialmisstatementinauditprocessinaccordancewiththeauditstandardscanalwaysbefound.Misstatementsmayresultfromfraudorerrorandaregenerallyconsideredtobematerialiftheindividualoraggregatedmisstatementsarereasonablyexpectedtoaffecttheeconomicdecisionsmadebyusersofthefinancialstatementsonthebasisoftheconsolidatedfinancialstatements.Intheprocessofperformingtheauditinaccordancewiththeauditstandards,weexerciseprofessionaljudgmentandmaintainprofessionalskepticism.Meanwhile,wealsoimplementthefollowingwork:
(1)Identifyingandassessingtheriskofmaterialmisstatementintheconsolidatedfinancialstatementsduetofraudorerror,designingandimplementingauditprocedurestoaddresstheserisks,andobtainingsufficientandappropriateauditevidencesasthebasisforissuingauditopinions.Sincefraudmayinvolvecollusion,forgery,willfulomission,misrepresentationoroverridinginternalcontrol,theriskoffailingtorecognizeamaterialmisstatementresultingfromfraudishigherthantheriskoffailingtorecognizeamaterialmisstatementresultingfromerror.
(2)Understandinginternalcontrolsrelatedtoaudittodesignappropriateauditprocedures.
(3)Evaluatingtheappropriatenessofaccountingpoliciesadoptedbymanagementandtherationalityofaccountingestimatesandrelevantdisclosures.
(4)Drawingconclusionsabouttheappropriatenessofgoingconcernassumptionadoptedbymanagement.Meanwhile,drawingconclusionsaboutthemattersthatmayleadtosignificantdoubtsaboutsustainableoperationcapacityofJingliangHoldingsorsignificantuncertaintiesofsituation.Ifweconcludedthatsignificantuncertaintiesexist,accordingtotherequirementsoftheauditstandards,weshoulddrawtheattentionofstatementuserstotherelevantdisclosuresintheconsolidatedfinancialstatementsintheaudit
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023report.Ifthedisclosurewasinsufficient,weshouldexpressanon-unqualifiedopinion.Ourconclusionswerebasedonavailableinformationasattheauditreportdate.However,futureeventsorcircumstancesmaycausetheunsustainableoperationoftheJingliangHoldings.
(5)Evaluatingtheoverallpresentation,structureandcontentoftheconsolidatedfinancialstatementsandassessingwhetherthefinancialstatementsfairlyreflectedrelevanttransactionsandevents.
(6)ObtainingsufficientandappropriateauditevidencesoffinancialinformationofentitiesorbusinessactivitiesinJingliangHoldingstoissueauditopinionsonconsolidatedfinancialstatements.Weareresponsibleforguiding,supervisingandexecutinggroupauditsandtakefullresponsibilityforauditopinions.Wecommunicatedwithgovernanceabouttheplannedscopeofaudit,timearrangement,andthemajorauditfindings,includingtheconcernedinternalcontroldeficienciesthatweidentifiedduringtheauditingprocess.
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
ConsolidatedBalanceSheet
Dec31,2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | Note | 31December2023 | 31December2022 |
| CurrentAssets: | |||
| Monetarycapital | V1 | 1,543,385,751.86 | 561,013,109.76 |
| Transactionalfinancialassets | V2 | 11,005,983.98 | |
| Derivativefinancialassets | V3 | 31,684,620.00 | 201,549.12 |
| Notesreceivable | |||
| Accountsreceivable | V4 | 115,780,372.55 | 77,057,446.86 |
| Receivablesfinancing | V5 | 2,502,308.90 | |
| Prepayment | V6 | 87,352,234.48 | 194,495,648.06 |
| Otherreceivables | V7 | 303,099,589.59 | 444,523,698.48 |
| Including:Interestreceivable | |||
| Dividendsreceivable | |||
| Inventory | V8 | 2,041,860,143.11 | 2,073,944,683.57 |
| Contractassets | |||
| Held-for-saleassets | |||
| Non-currentassetsduewithinoneyear | V9 | 22,188,083.34 | 148,387,894.16 |
| Othercurrentassets | V10 | 312,336,642.43 | 632,929,899.75 |
| Totalcurrentassets | 4,460,189,746.26 | 4,143,559,913.74 | |
| Non-currentassets: | |||
| Debtinvestment | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestment | V11 | 254,922,645.41 | 243,553,916.98 |
| Otherequityinstrumentsinvestment | V12 | 20,000,000.00 | 20,000,000.00 |
| Othernon-currentfinancialassets | |||
| Investmentproperty | V13 | 20,045,503.77 | 19,805,276.24 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Fixedassets | V14 | 939,548,012.91 | 1,047,451,810.24 |
| Constructioninprocess | V15 | 59,094,902.29 | 22,695,003.52 |
| Productivebiologicalassets | |||
| Oil-and-gasassets | |||
| Right-of-useassets | V16 | 99,232,303.78 | 6,968,426.20 |
| Intangibleassets | V17 | 412,676,845.93 | 325,044,884.34 |
| Developmentexpenditure | |||
| Goodwill | V18 | 191,394,422.51 | 191,394,422.51 |
| Long-termdeferredexpenses | V19 | 17,655,736.82 | 16,935,967.92 |
| Deferredincometaxassets | V20 | 8,798,915.22 | 14,189,763.93 |
| Othernon-currentassets | V21 | 13,223,950.00 | 53,544,782.34 |
| Totalnon-currentassets | 2,036,593,238.64 | 1,961,584,254.22 | |
| Totalassets | 6,496,782,984.90 | 6,105,144,167.96 |
LegalRepresentative：ChiefFinancialOfficer:HeadofAccountingDepartment:
| Items | Note | 31December2023 | 31December2022 |
| Currentliabilities: | |||
| Short-termborrowings | V23 | 1,163,479,691.67 | 1,260,543,148.81 |
| Transactionalfinancialliabilities | |||
| Derivativefinancialliabilities | V24 | 15,805,393.88 | 111,373,155.00 |
| Notespayable | V25 | 3,331,333.80 | |
| Accountspayable | V26 | 82,474,823.84 | 110,911,877.21 |
| Accountcollectedinadvance | V27 | 1,075,801.34 | 922,982.41 |
| Contractliabilities | V28 | 411,033,219.08 | 285,555,581.80 |
| Employeepayrollpayable | V29 | 32,702,558.07 | 43,928,760.76 |
| Taxespayable | V30 | 11,577,392.47 | 66,629,054.18 |
| Otherpayables | V31 | 79,618,198.78 | 83,999,685.56 |
| Including:Interestpayable | V31 | 21,082,795.47 | 21,082,795.47 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Dividendspayable | V31 | 3,213,302.88 | 3,213,302.88 |
| Held-for-saleliabilities | |||
| Non-currentliabilitiesduewithinoneyear | V32 | 175,940,949.28 | 1,432,706.14 |
| Othercurrentliabilities | V33 | 60,439,400.68 | 56,184,255.30 |
| Totalcurrentliabilities | 2,034,147,429.09 | 2,024,812,540.97 | |
| Non-currentliabilities: | |||
| Long-termborrowings | V34 | 400,000,000.00 | 500,284,166.67 |
| Bondspayable | V35 | 298,800,000.00 | |
| Including:Preferredstock | |||
| Perpetualcapitalbonds | |||
| Leaseliabilities | V36 | 73,241,742.57 | 704,390.98 |
| Long-termpayables | |||
| Long-termpayabletoemployees | V37 | 5,677,134.00 | 5,677,134.00 |
| Estimatedliabilities | |||
| Deferredincome | V38 | 62,503,256.67 | 64,550,917.36 |
| Deferredincometaxliabilities | V20 | 47,082,123.53 | 46,405,170.70 |
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 887,304,256.77 | 617,621,779.71 | |
| Totalliabilities | 2,921,451,685.86 | 2,642,434,320.68 | |
| Owners'equity(orShareholders'equity): | |||
| Paid-incapital | V39 | 726,950,251.00 | 726,950,251.00 |
| Otherequityinstruments | |||
| Including:Preferredstock | |||
| Perpetualcapitalbonds | |||
| Capitalreserves | V40 | 1,681,808,108.07 | 1,678,678,350.95 |
| Less:treasurystock | |||
| Othercomprehensiveincome | V41 | 1,369,980.92 | 1,005,720.50 |
| Specialreserves | |||
| Surplusreserves | V42 | 129,819,690.00 | 122,122,436.98 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Undistributedprofit | V43 | 627,555,511.45 | 532,904,675.62 |
| Owner'sEquity(orshareholder'sequity)AttributabletoShareholdersoftheParentCompany | 3,167,503,541.44 | 3,061,661,435.05 | |
| Minorityequity | 407,827,757.60 | 401,048,412.23 | |
| Totalowners'equity(orshareholders'equity) | 3,575,331,299.04 | 3,462,709,847.28 | |
| Totalliabilitiesandowners'equity(orshareholders'equity) | 6,496,782,984.90 | 6,105,144,167.96 |
LegalRepresentative：ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
BalanceSheetofParentCompany
Dec31,2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | Notes | 31December2023 | 31December2022 |
| CurrentAssets: | |||
| Monetarycapital | 23,743,255.81 | 15,852,894.21 | |
| Transactionalfinancialassets | |||
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | |||
| Receivablesfinancing | |||
| Prepayment | |||
| Otherreceivables | 17.1 | 950,000,000.00 | 349,000,000.00 |
| Including:Interestreceivable | |||
| Dividendsreceivable | 17.1 | 150,000,000.00 | |
| Inventory | |||
| Contractassets | |||
| Held-for-saleassets | |||
| Non-currentassetsduewithinoneyear | |||
| Othercurrentassets | 976,539.93 | 1,168,502.66 | |
| Totalcurrentassets | 974,719,795.74 | 366,021,396.87 | |
| Non-currentassets: | |||
| Debtinvestment | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestment | 17.2 | 2,625,657,283.19 | 2,619,157,283.19 |
| Otherequityinstrumentsinvestment | 20,000,000.00 | 20,000,000.00 | |
| Othernon-currentfinancialassets | |||
| Investmentproperty | 5,198,514.17 | 5,539,676.69 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Fixedassets | 5,955,832.27 | 5,575,316.44 | |
| Constructioninprocess | |||
| Productivebiologicalassets | |||
| Oil-and-gasassets | |||
| Right-of-useassets | |||
| Intangibleassets | |||
| Developmentexpenditure | |||
| Goodwill | |||
| Long-termdeferredexpenses | 495,639.67 | ||
| Deferredincometaxassets | |||
| Othernon-currentassets | 2,833,950.00 | ||
| Totalnon-currentassets | 2,660,141,219.30 | 2,650,272,276.32 | |
| Totalassets | 3,634,861,015.04 | 3,016,293,673.19 |
LegalRepresentative：ChiefFinancialOfficer:HeadofAccountingDepartment:
| Items | Notes | 31December2023 | 31December2022 |
| Currentliabilities: | |||
| Short-termborrowings | |||
| Transactionalfinancialliabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | |||
| Accountspayable | 15,383.17 | ||
| Accountcollectedinadvance | 38,896.41 | 38,896.41 | |
| Contractliabilities | |||
| Employeepayrollpayable | 157,166.68 | 191,137.22 | |
| Taxespayable | 1,016,682.06 | 1,548,097.77 | |
| Otherpayables | 32,458,140.29 | 34,559,303.45 | |
| Including:Interestpayable | 21,082,795.47 | 21,082,795.47 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Dividendspayable | 3,213,302.88 | 3,213,302.88 | |
| Held-for-saleliabilities | |||
| Non-currentliabilitiesduewithinoneyear | 2,880,000.00 | ||
| Othercurrentliabilities | |||
| Totalcurrentliabilities | 36,566,268.61 | 36,337,434.85 | |
| Non-currentliabilities: | |||
| Long-termborrowings | |||
| Bondspayable | 298,800,000.00 | ||
| Including:Preferredstock | |||
| Perpetualcapitalbonds | |||
| Leaseliabilities | |||
| Long-termpayables | |||
| Long-termpayabletoemployees | |||
| Estimatedliabilities | |||
| Deferredincome | |||
| Deferredincometaxliabilities | |||
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 298,800,000.00 | ||
| Totalliabilities | 335,366,268.61 | 36,337,434.85 | |
| Owners'equity(orShareholders'equity): | |||
| Paid-incapital | 726,950,251.00 | 726,950,251.00 | |
| Otherequityinstruments | |||
| Including:Preferredstock | |||
| Perpetualcapitalbonds | |||
| Capitalreserves | 2,386,084,900.84 | 2,382,994,900.84 | |
| Less:treasurystock | |||
| Othercomprehensiveincome | |||
| Specialreserves | |||
| Surplusreserves | 117,184,317.41 | 109,487,064.39 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Undistributedprofit | 69,275,277.18 | -239,475,977.89 | |
| Totalowners'equity(orshareholders'equity) | 3,299,494,746.43 | 2,979,956,238.34 | |
| Totalliabilitiesandowners'equity(orshareholders'equity) | 3,634,861,015.04 | 3,016,293,673.19 |
LegalRepresentative：ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
ConsolidatedIncomeStatement
Year2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | Note | Amountforthecurrentperiod | Amountforthepriorperiod |
| I.Totaloperatingincome | 11,901,009,211.63 | 12,857,874,301.72 | |
| Including:Operatingincome | V44 | 11,901,009,211.63 | 12,857,874,301.72 |
| II.Totaloperatingcost | 11,986,827,828.36 | 12,681,617,878.16 | |
| Including:Operatingcost | V44 | 11,550,803,067.51 | 12,237,571,339.31 |
| Taxandsurcharges | V45 | 22,932,382.10 | 30,485,129.75 |
| Sellingexpenses | V46 | 134,700,286.27 | 163,930,700.04 |
| Administrationexpenses | V47 | 213,974,205.09 | 209,606,764.42 |
| Researchanddevelopmentexpenses | V48 | 20,897,961.71 | 14,391,364.17 |
| Financialexpenses | V49 | 43,519,925.68 | 25,632,580.47 |
| Including:interestexpenses | V49 | 62,101,542.12 | 46,001,727.19 |
| Interestincome | V49 | 18,201,145.42 | 26,078,234.77 |
| Add:Otherincome | V50 | 13,332,777.37 | 15,781,725.63 |
| Incomefrominvestment(Lossesshallbefilledinwith“-”) | V51 | 15,930,270.08 | 13,303,071.64 |
| Including:incomefrominvestmentonjointventureandcooperativeenterprise | 11,368,728.43 | 12,293,636.95 | |
| Incomefromderecognitionoffinancialassetsmeasuredatamortizedcost | |||
| Incomefromnetexposurehedging(Lossesshallbefilledinwith“-”) | |||
| Incomefromchangesinfairvalue(Lossesshallbefilledinwith“-”) | V52 | 228,219,839.09 | 61,032,222.12 |
| Creditimpairmentloss(Losses | V53 | -5,127,786.33 | -2,004,656.44 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| shallbefilledinwith“-”) | |||
| Incomefromassetsimpairment(Lossesshallbefilledinwith“-”) | V54 | -29,004,360.66 | -43,736,036.29 |
| Incomefromassetdisposal(Lossesshallbefilledinwith“-”) | V55 | 50,283.79 | 466,027.43 |
| III.Operatingprofit(Lossesshallbefilledinwith“-”) | 137,582,406.61 | 221,098,777.65 | |
| Add:non-operatingincome | V56 | 6,767,332.70 | 5,356,230.94 |
| Less:non-operatingexpenditure | V57 | 4,017,245.94 | 1,132,355.35 |
| IV.Totalprofit(Totallossesshallbefilledinwith“-”) | 140,332,493.37 | 225,322,653.24 | |
| Less:incometaxexpense | V58 | 36,879,647.08 | 61,071,287.26 |
| V.Netprofit(Netlossshallbefilledinwith“-”) | 103,452,846.29 | 164,251,365.98 | |
| (I)Classifiedbyoperationscontinuity | |||
| 1.Netprofitfromcontinuingoperations(Netlossshallbefilledinwith“-”) | 103,452,846.29 | 164,251,365.98 | |
| 2.Netprofitfromdiscontinuingoperations(Netlossshallbefilledinwith“-”) | |||
| (II)Classifiedbyownershipattribution | |||
| 1、Netprofitattributabletoshareholdersoftheparentcompany(Netlossshallbefilledinwith“-”) | 102,348,088.85 | 141,411,141.28 | |
| 2、Minorityinterestincome(Netlossshallbefilledinwith“-”) | 1,104,757.44 | 22,840,224.70 | |
| VI.Netoftaxfromothercomprehensiveincome | 364,260.42 | 1,688,002.72 | |
| (I)Netoftaxfromothercomprehensiveincomeattributabletoshareholdersoftheparent | 364,260.42 | 1,688,002.72 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| company | |||
| 1.Othercomprehensiveincomethatcannotbereclassifiedintotheprofitandloss | |||
| (1)Remeasurechangesindefinedbenefitplans | |||
| (2)Othercomprehensiveincomethatcannotbetransferredtogainsandlossesundertheequitymethod | |||
| (3)Changesinfairvalueofotherequityinstrumentinvestments | |||
| (4)Changesinthefairvalueofthecompany'sowncreditrisk | |||
| (5)Others | |||
| 2.Othercomprehensiveincomethatwillbereclassifiedintotheprofitandloss | 364,260.42 | 1,688,002.72 | |
| (1)Othercomprehensiveincomethatcanbetransferredtogainsandlossesundertheequitymethod | 460,842.50 | ||
| (2)Changesinfairvalueofotherdebtinvestments | |||
| (3)Reclassificationoffinancialassetsincludedinothercomprehensiveincome | |||
| (4)Provisionforcreditimpairmentofotherdebtinvestments | |||
| (5)Cashflowhedgereserve | |||
| (6)Balancearisingfromthetranslationofforeigncurrency | 364,260.42 | 1,227,160.22 | |
| (7)Others | |||
| (II)Netoftaxfromothercomprehensive |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| incomeattributabletominorityshareholder | |||
| VII.Totalcomprehensiveincome | 103,817,106.71 | 165,939,368.70 | |
| (I)Totalcomprehensiveincomeattributabletoshareholdersoftheparentcompany | 102,712,349.27 | 143,099,144.00 | |
| (II)Totalcomprehensiveincomeattributabletominorityshareholder | 1,104,757.44 | 22,840,224.70 | |
| VIII.Earningspershare: | |||
| (I)Basicearningspershare | 0.14 | 0.19 | |
| (II)Dilutedearningspershare | 0.14 | 0.19 |
LegalRepresentative：ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
IncomeStatementofParentCompany
Year2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | Note | Amountforthecurrentperiod | Amountforthepriorperiod |
| I.Totaloperatingincome | 17.3 | 12,240,221.13 | 11,768,886.09 |
| Less:Operatingcost | 17.3 | 341,162.52 | 341,162.52 |
| Taxandsurcharges | 438,568.29 | 373,093.86 | |
| Sellingexpenses | |||
| Administrationexpenses | 11,424,000.59 | 12,242,752.50 | |
| Researchanddevelopmentexpenses | |||
| Financialexpenses | -15,865,978.76 | -7,075,157.39 | |
| Including:interestexpenses | 3,030,000.00 | ||
| Interestincome | 18,899,353.45 | 7,076,989.67 | |
| Add:Otherincome | 2,308.28 | 23,340.94 | |
| Incomefrominvestment(Lossesshallbefilledinwith“-”) | 17.4 | 300,509,614.85 | 163,430,984.15 |
| Including:incomefrominvestmentonjointventureandcooperativeenterprise | |||
| Incomefromderecognitionoffinancialassetsmeasuredatamortizedcost | |||
| Incomefromnetexposurehedging(Lossesshallbefilledinwith“-”) | |||
| Incomefromchangesinfairvalue(Lossesshallbefilledinwith“-”) | |||
| Creditimpairmentloss(Lossesshallbefilledinwith“-”) | -600.00 | ||
| Incomefromassetsimpairment(Lossesshallbefilledinwith“-”) |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| Incomefromassetdisposal(Lossesshallbefilledinwith“-”) | |||
| II.Operatingprofit(Lossesshallbefilledinwith“-”) | 316,414,391.62 | 169,340,759.69 | |
| Add:non-operatingincome | 61,300.00 | 1.00 | |
| Less:non-operatingexpenditure | 27,183.53 | 7,270.08 | |
| III.Totalprofit(Totallossesshallbefilledinwith“-”) | 316,448,508.09 | 169,333,490.61 | |
| Less:incometaxexpense | |||
| IV.Netprofit(Netlossshallbefilledinwith“-”) | 316,448,508.09 | 169,333,490.61 | |
| 1.Netprofitfromcontinuingoperations(Netlossshallbefilledinwith“-”) | 316,448,508.09 | 169,333,490.61 | |
| 2.Netprofitfromdiscontinuingoperations(Netlossshallbefilledinwith“-”) | |||
| V.Netoftaxfromothercomprehensiveincome | |||
| 1.Othercomprehensiveincomethatcannotbereclassifiedintotheprofitandloss | |||
| (1)Remeasurechangesindefinedbenefitplans | |||
| (2)Othercomprehensiveincomethatcannotbetransferredtogainsandlossesundertheequitymethod | |||
| (3)Changesinfairvalueofotherequityinstrumentinvestments | |||
| (4)Changesinthefairvalueofthecompany'sowncreditrisk | |||
| (5)Others | |||
| 2.Othercomprehensiveincomethatwillbereclassifiedintotheprofitandloss | |||
| (1)Othercomprehensiveincomethatcanbetransferredtogainsandlossesundertheequitymethod | |||
| (2)Changesinfairvalueofotherdebtinvestments | |||
| (3)Reclassificationoffinancialassetsincludedinothercomprehensiveincome | |||
| (4)Provisionforcreditimpairmentofotherdebtinvestments |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| (5)Cashflowhedgereserve | |||
| (6)Balancearisingfromthetranslationofforeigncurrency | |||
| (7)Others | |||
| VI.Totalcomprehensiveincome | 316,448,508.09 | 169,333,490.61 | |
| VII.Earningspershare: | |||
| 1.Basicearningspershare | |||
| 2.Dilutedearningspershare |
LegalRepresentative：ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
ConsolidatedCashFlowStatement
Year2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | Note | Amountforthecurrentperiod | Amountforthepriorperiod |
| I.CashFlowsfromOperatingActivities: | |||
| CashReceiptsfromSalesofGoodsorRenderingofServices | 12,936,790,538.49 | 13,766,962,689.93 | |
| TaxRefundReceipts | 7,998,752.68 | 32,076,837.51 | |
| OtherCashReceiptsConcerningOperatingActivities | V60 | 2,317,880,715.49 | 2,398,032,376.76 |
| SubtotalofCashInflowsfromOperatingActivities | 15,262,670,006.66 | 16,197,071,904.20 | |
| CashPaidforPurchaseofGoodsandAcceptingServices | 12,244,383,908.50 | 12,753,441,435.11 | |
| CashPaidtoandforEmployees | 358,936,454.83 | 358,394,104.04 | |
| TaxesandFeesPaid | 186,585,834.21 | 270,860,576.40 | |
| OtherCashPaidConcerningOperatingActivities | V60 | 2,363,276,854.38 | 3,347,606,735.68 |
| SubtotalofCashOutflowsfromOperatingActivities | 15,153,183,051.92 | 16,730,302,851.23 | |
| NetCashFlowsfromOperatingActivities | 109,486,954.74 | -533,230,947.03 | |
| II.CashFlowsfromInvestmentActivities: | |||
| CashReceiptsfromDisinvestment | 784,491,129.71 | 2,394,031,129.22 | |
| CashReceiptsfromReturnsonInvestments | 4,709,513.37 | 766,069.50 | |
| NetCashfromDisposalofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 63,176.00 | 1,014,639.66 | |
| NetCashReceivedbyDisposalofSubsidiariesandOtherBusinessUnits | |||
| OtherCashReceiptsConcerningInvestmentActivities | |||
| SubtotalofCashInflowsfromInvestmentActivities | 789,263,819.08 | 2,395,811,838.38 | |
| CashPaidforPurchaseandConstructionofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 105,158,076.17 | 40,239,869.38 | |
| CashPaidforInvestments | 200,000,000.00 | 1,880,998,000.00 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| NetCashPaidforobtainingSubsidiariesandOtherBusinessUnits | |||
| OtherCashPaidConcerningInvestmentActivities | V60 | 9,772,907.10 | |
| SubtotalofCashOutflowsfromInvestmentActivities | 314,930,983.27 | 1,921,237,869.38 | |
| NetCashFlowsfromInvestmentActivities | 474,332,835.81 | 474,573,969.00 | |
| III.CashFlowsfromFinancingActivities: | |||
| CashReceiptsfromAcceptingInvestment | 3,500,000.00 | ||
| Including:CashReceivedbySubsidiariesAbsorbingtheInvestmentfromMinorityShareholders | 3,500,000.00 | ||
| CashReceiptsfromBorrowings | 3,359,242,053.12 | 4,399,709,228.07 | |
| OtherCashReceiptsConcerningFinancingActivities | V60 | 3,090,000.00 | 2,760,000.00 |
| SubtotalofCashInflowsfromFinancingActivities | 3,365,832,053.12 | 4,402,469,228.07 | |
| CashPaidforRepaymentofDebts | 2,795,921,695.12 | 4,237,019,825.39 | |
| CashPaidforDistributionofDividends,ProfitsorRepaymentofInterests | 134,747,045.10 | 64,145,041.16 | |
| Including:DividendsandProfitsPaidbySubsidiariestoMinorityShareholders | 73,212,000.00 | 18,143,313.97 | |
| OtherCashPaidConcerningFinancingActivities | V60 | 29,652,976.62 | 1,238,815.56 |
| SubtotalofCashOutflowsfromFinancingActivities | 2,960,321,716.84 | 4,302,403,682.11 | |
| NetCashFlowsfromFinancingActivities | 405,510,336.28 | 100,065,545.96 | |
| IV.ExchangeRateFluctuationConsequencesonCashandCashEquivalents | -130,156.95 | 3,101,731.45 | |
| V.NetIncreaseinCashandCashEquivalents | 989,199,969.88 | 44,510,299.38 | |
| Add:OpeningBalanceofCashandCashEquivalents | 551,439,110.07 | 506,928,810.69 | |
| VI.ClosingBalanceofCashandCashEquivalents | 1,540,639,079.95 | 551,439,110.07 |
LegalRepresentative：ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
CashFlowStatementofParentCompany
Year2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | Note | Amountforthecurrentperiod | Amountforthepriorperiod |
| I.CashFlowsfromOperatingActivities: | |||
| CashReceiptsfromSalesofGoodsorRenderingofServices | 12,124,704.99 | 12,170,542.89 | |
| TaxRefundReceipts | 395,429.81 | ||
| OtherCashReceiptsConcerningOperatingActivities | 875,745.92 | 17,881,230.06 | |
| SubtotalofCashInflowsfromOperatingActivities | 13,000,450.91 | 30,447,202.76 | |
| CashPaidforPurchaseofGoodsandAcceptingServices | |||
| CashPaidtoandforEmployees | 4,197,912.96 | 3,754,319.13 | |
| TaxesandFeesPaid | 1,608,964.87 | 340,553.05 | |
| OtherCashPaidConcerningOperatingActivities | 9,750,891.74 | 42,879,170.61 | |
| SubtotalofCashOutflowsfromOperatingActivities | 15,557,769.57 | 46,974,042.79 | |
| NetCashFlowsfromOperatingActivities | -2,557,318.66 | -16,526,840.03 | |
| II.CashFlowsfromInvestmentActivities: | |||
| CashReceiptsfromDisinvestment | 11,032,147.20 | ||
| CashReceiptsfromReturnsonInvestments | 470,462,392.63 | 17,679,400.00 | |
| NetCashfromDisposalofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 3,920.00 | ||
| NetCashReceivedbyDisposalofSubsidiariesandOtherBusinessUnits | |||
| OtherCashReceiptsConcerningInvestmentActivities | |||
| SubtotalofCashInflowsfromInvestmentActivities | 470,466,312.63 | 28,711,547.20 | |
| CashPaidforPurchaseandConstructionofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 4,258,632.37 | ||
| CashPaidforInvestments | 757,500,000.00 | 8,000,000.00 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| NetCashPaidforobtainingSubsidiariesandOtherBusinessUnits | |||
| OtherCashPaidConcerningInvestmentActivities | |||
| SubtotalofCashOutflowsfromInvestmentActivities | 761,758,632.37 | 8,000,000.00 | |
| NetCashFlowsfromInvestmentActivities | -291,292,319.74 | 20,711,547.20 | |
| III.CashFlowsfromFinancingActivities: | |||
| CashReceiptsfromAcceptingInvestment | |||
| Including:CashReceivedbySubsidiariesAbsorbingtheInvestmentfromMinorityShareholders | 298,650,000.00 | ||
| CashReceiptsfromBorrowings | 3,090,000.00 | 10,135,000.00 | |
| OtherCashReceiptsConcerningFinancingActivities | 301,740,000.00 | 10,135,000.00 | |
| SubtotalofCashInflowsfromFinancingActivities | |||
| CashPaidforDistributionofDividends,ProfitsorRepaymentofInterests | |||
| OtherCashPaidConcerningFinancingActivities | |||
| SubtotalofCashOutflowsfromFinancingActivities | |||
| NetCashFlowsfromFinancingActivities | 301,740,000.00 | 10,135,000.00 | |
| IV.ExchangeRateFluctuationConsequencesonCashandCashEquivalents | |||
| V.NetIncreaseinCashandCashEquivalents | 7,890,361.60 | 14,319,707.17 | |
| Add:OpeningBalanceofCashandCashEquivalents | 15,852,894.21 | 1,533,187.04 | |
| VI.ClosingBalanceofCashandCashEquivalents | 23,743,255.81 | 15,852,894.21 |
LegalRepresentative：ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
ConsolidatedStatementofChangesinEquity
Year2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | CurrentAmount | ||||||||||||
| Shareholder'sEquityattributabletotheParentCompany | Minorityequity | Totalshareholders'equities | |||||||||||
| Paid-incapital | Otherequityinstruments | Capitalreserve | Less:treasurystock | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofit | Subtotal | |||||
| Preferredstock | Perpetualbond | Others | |||||||||||
| I.Year-endbalanceoflastyear | 726,950,251.00 | 1,678,678,350.95 | 1,005,720.50 | 122,122,436.98 | 532,904,675.62 | 3,061,661,435.05 | 401,048,412.23 | 3,462,709,847.28 | |||||
| Add:changesinaccountingpolicies | |||||||||||||
| Correctionofpriorperioderrors | |||||||||||||
| Mergerofenterprisesunderthesamecontrol | |||||||||||||
| Other | |||||||||||||
| II.Balanceatbeginningofcurrentyear | 726,950,251.00 | 1,678,678,350.95 | 1,005,720.50 | 122,122,436.98 | 532,904,675.62 | 3,061,661,435.05 | 401,048,412.23 | 3,462,709,847.28 | |||||
| III.Increasesanddecreasesofcurrentyear(Decreaseshallbefilledinwith“-”) | 3,129,757.12 | 364,260.42 | 7,697,253.02 | 94,650,835.83 | 105,842,106.39 | 6,779,345.37 | 112,621,451.76 | ||||||
| (I)Totalcomprehensiveincome | 364,260.42 | 102,348,088.85 | 102,712,349.27 | 1,104,757.44 | 103,817,106.71 | ||||||||
| (II)Investmentofshareholdersandcapitalreduction | 3,129,757.12 | 3,129,757.12 | 78,886,587.93 | 82,016,345.05 | |||||||||
| 1.Commonequityinvestedbyshareholders | 117,698,300.00 | 117,698,300.00 | |||||||||||
| 2.Capitalinvestedbyotherequityinstrumentsholders | |||||||||||||
| 3.Theamountofsharesrecordedintotheshareholder'sequity | |||||||||||||
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| 4.Others | 3,129,757.12 | 3,129,757.12 | -38,811,712.07 | -35,681,954.95 | |||||||
| (III)Distributionofprofits | 7,697,253.02 | -7,697,253.02 | -73,212,000.00 | -73,212,000.00 | |||||||
| 1.Withdrawalofsurplusreserves | 7,697,253.02 | -7,697,253.02 | |||||||||
| 2.Distributiontoshareholders | -73,212,000.00 | -73,212,000.00 | |||||||||
| 3.Others | |||||||||||
| (IV)Innercarrying-overofshareholders'equities | |||||||||||
| 1.Capitalreserveconvertedintocapital(orcapitalstock) | |||||||||||
| 2.Surpluspublicaccumulationconvertedintocapital(orcapitalstock) | |||||||||||
| 3.Surpluspublicaccumulationlossremedy | |||||||||||
| 4.Changeindefinedbenefitplancarriedforwardtoretainedearnings | |||||||||||
| 5.Othercomprehensiveincomecarriedforwardtoretainedearnings | |||||||||||
| 6.Others | |||||||||||
| (V)Specialreserve | |||||||||||
| 1.Withdrawalforcurrentperiod | |||||||||||
| 2.Useforcurrentperiod | |||||||||||
| (VI)Others | |||||||||||
| IV.Closingbalanceofcurrentyear | 726,950,251.00 | 1,681,808,108.07 | 1,369,980.92 | 129,819,690.00 | 627,555,511.45 | 3,167,503,541.44 | 407,827,757.60 | 3,575,331,299.04 |
LegalRepresentative:ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
ConsolidatedStatementofChangesinEquity
Year2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | AmountofLastPeriod | ||||||||||||
| Shareholder'sEquityattributabletotheParentCompany | Minorityequity | Totalshareholders'equities | |||||||||||
| Paid-incapital | Otherequityinstruments | Capitalreserve | Less:treasurystock | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofit | Subtotal | |||||
| Preferredstock | Perpetualbond | Others | |||||||||||
| I.Year-endbalanceoflastyear | 726,950,251.00 | 1,675,918,350.95 | -682,282.22 | 122,122,436.98 | 391,493,534.34 | 2,915,802,291.05 | 396,351,501.50 | 3,312,153,792.55 | |||||
| Add:changesinaccountingpolicies | |||||||||||||
| Correctionofpriorperioderrors | |||||||||||||
| Mergerofenterprisesunderthesamecontrol | |||||||||||||
| Other | |||||||||||||
| II.Balanceatbeginningofcurrentyear | 726,950,251.00 | 1,675,918,350.95 | -682,282.22 | 122,122,436.98 | 391,493,534.34 | 2,915,802,291.05 | 396,351,501.50 | 3,312,153,792.55 | |||||
| III.Increasesanddecreasesofcurrentyear(Decreaseshallbefilledinwith“-”) | 2,760,000.00 | 1,688,002.72 | 141,411,141.28 | 145,859,144.00 | 4,696,910.73 | 150,556,054.73 | |||||||
| (I)Totalcomprehensiveincome | 1,688,002.72 | 141,411,141.28 | 143,099,144.00 | 22,840,224.70 | 165,939,368.70 | ||||||||
| (II)Investmentofshareholdersandcapital | 2,760,000.00 | 2,760,000.00 | 2,760,000.00 | ||||||||||
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| reduction | ||||||
| 1.Commonequityinvestedbyshareholders | ||||||
| 2.Capitalinvestedbyotherequityinstrumentsholders | ||||||
| 3.Theamountofsharesrecordedintotheshareholder'sequity | ||||||
| 4.Others | 2,760,000.00 | 2,760,000.00 | 2,760,000.00 | |||
| (III)Distributionofprofits | -18,143,313.97 | -18,143,313.97 | ||||
| 1.Withdrawalofsurplusreserves | ||||||
| 2.Distributiontoshareholders | -18,143,313.97 | -18,143,313.97 | ||||
| 3.Others | ||||||
| (IV)Innercarrying-overofshareholders'equities | ||||||
| 1.Capitalreserveconvertedintocapital(orcapitalstock) | ||||||
| 2.Surpluspublicaccumulationconvertedintocapital(orcapitalstock) | ||||||
| 3.Surpluspublicaccumulationlossremedy |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| 4.Changeindefinedbenefitplancarriedforwardtoretainedearnings | |||||||||||
| 5.Othercomprehensiveincomecarriedforwardtoretainedearnings | |||||||||||
| 6.Others | |||||||||||
| (V)Specialreserve | |||||||||||
| 1.Withdrawalforcurrentperiod | |||||||||||
| 2.Useforcurrentperiod | |||||||||||
| (VI)Others | |||||||||||
| IV.Closingbalanceofcurrentyear | 726,950,251.00 | 1,678,678,350.95 | 1,005,720.50 | 122,122,436.98 | 532,904,675.62 | 3,061,661,435.05 | 401,048,412.23 | 3,462,709,847.28 |
LegalRepresentative:ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
StatementofChangesinEquityofParentCompany
Year2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | CurrentAmount | ||||||||||
| Paid-incapital | Otherequityinstruments | Capitalreserve | Less:treasurystock | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofit | Subtotal | |||
| Preferredstock | Perpetualbond | Others | |||||||||
| I.Year-endbalanceoflastyear | 726,950,251.00 | 2,382,994,900.84 | 109,487,064.39 | -239,475,977.89 | 2,979,956,238.34 | ||||||
| Add:changesinaccountingpolicies | |||||||||||
| Correctionofpriorperioderrors | |||||||||||
| Other | |||||||||||
| II.Balanceatbeginningofcurrentyear | 726,950,251.00 | 2,382,994,900.84 | 109,487,064.39 | -239,475,977.89 | 2,979,956,238.34 | ||||||
| III.Increasesanddecreasesofcurrentyear(Decreaseshallbefilledinwith“-”) | 3,090,000.00 | 7,697,253.02 | 308,751,255.07 | 319,538,508.09 | |||||||
| (I)Totalcomprehensiveincome | 316,448,508.09 | 316,448,508.09 | |||||||||
| (II)Investmentofshareholdersandcapitalreduction | 3,090,000.00 | 3,090,000.00 | |||||||||
| 1.Commonequityinvestedbyshareholders | |||||||||||
| 2.Capitalinvestedbyotherequityinstrumentsholders | |||||||||||
| 3.Theamountofsharesrecordedintotheshareholder'sequity | |||||||||||
| 4.Others | 3,090,000.00 | 3,090,000.00 | |||||||||
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| (III)Distributionofprofits | 7,697,253.02 | -7,697,253.02 | |||||
| 1.Withdrawalofsurplusreserves | 7,697,253.02 | -7,697,253.02 | |||||
| 2.Distributiontoshareholders | |||||||
| 3.Others | |||||||
| (IV)Innercarrying-overofshareholders'equities | |||||||
| 1.Capitalreserveconvertedintocapital(orcapitalstock) | |||||||
| 2.Surpluspublicaccumulationconvertedintocapital(orcapitalstock) | |||||||
| 3.Surpluspublicaccumulationlossremedy | |||||||
| 4.Changeindefinedbenefitplancarriedforwardtoretainedearnings | |||||||
| 5.Othercomprehensiveincomecarriedforwardtoretainedearnings | |||||||
| 6.Others | |||||||
| (V)Specialreserve | |||||||
| 1.Withdrawalforcurrentperiod | |||||||
| 2.Useforcurrentperiod | |||||||
| (VI)Others | |||||||
| IV.Closingbalanceofcurrentyear | 726,950,251.00 | 2,386,084,900.84 | 117,184,317.41 | 69,275,277.18 | 3,299,494,746.43 |
LegalRepresentative:ChiefFinancialOfficer:HeadofAccountingDepartment:
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
StatementofChangesinEquityofParentCompany
Year2023Preparedby:HainanJingliangHoldingsCo.,Ltd.MonetaryUnit:RMBYuan
| Items | AmountofLastPeriod | ||||||||||
| Paid-incapital | Otherequityinstruments | Capitalreserve | Less:treasurystock | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofit | Subtotal | |||
| Preferredstock | Perpetualbond | Others | |||||||||
| I.Year-endbalanceoflastyear | 726,950,251.00 | 2,380,234,900.84 | 109,487,064.39 | -408,809,468.50 | 2,807,862,747.73 | ||||||
| Add:changesinaccountingpolicies | |||||||||||
| Correctionofpriorperioderrors | |||||||||||
| Other | |||||||||||
| II.Balanceatbeginningofcurrentyear | 726,950,251.00 | 2,380,234,900.84 | 109,487,064.39 | -408,809,468.50 | 2,807,862,747.73 | ||||||
| III.Increasesanddecreasesofcurrentyear(Decreaseshallbefilledinwith“-”) | 2,760,000.00 | 169,333,490.61 | 172,093,490.61 | ||||||||
| (I)Totalcomprehensiveincome | 169,333,490.61 | 169,333,490.61 | |||||||||
| (II)Investmentofshareholdersandcapitalreduction | 2,760,000.00 | 2,760,000.00 | |||||||||
| 1.Commonequityinvestedbyshareholders | |||||||||||
| 2.Capitalinvestedbyotherequityinstrumentsholders | |||||||||||
| 3.Theamountofsharesrecordedintotheshareholder'sequity | |||||||||||
| 4.Others | 2,760,000.00 | 2,760,000.00 | |||||||||
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
| (III)Distributionofprofits | |||||||
| 1.Withdrawalofsurplusreserves | |||||||
| 2.Distributiontoshareholders | |||||||
| 3.Others | |||||||
| (IV)Innercarrying-overofshareholders'equities | |||||||
| 1.Capitalreserveconvertedintocapital(orcapitalstock) | |||||||
| 2.Surpluspublicaccumulationconvertedintocapital(orcapitalstock) | |||||||
| 3.Surpluspublicaccumulationlossremedy | |||||||
| 4.Changeindefinedbenefitplancarriedforwardtoretainedearnings | |||||||
| 5.Othercomprehensiveincomecarriedforwardtoretainedearnings | |||||||
| 6.Others | |||||||
| (V)Specialreserve | |||||||
| 1.Withdrawalforcurrentperiod | |||||||
| 2.Useforcurrentperiod | |||||||
| (VI)Others | |||||||
| IV.Closingbalanceofcurrentyear | 726,950,251.00 | 2,382,994,900.84 | 109,487,064.39 | -239,475,977.89 | 2,979,956,238.34 |
LegalRepresentative:ChiefFinancialOfficer:HeadofAccountingDepartment:
NotestotheFinancialStatementsI.BasicInformationoftheCompany
1.Placeofincorporation,formoforganizationandheadofficeaddressHainanJingliangHoldingsCo.,Ltd.(hereinafterreferredtoas"theCompany"or"Company"or"JingliangHoldings")isestablishedinaccordancewiththeHainanProvincialPeople'sGovernmentGeneralOfficeQFBH(1992)No.1,approvedbyQY(1992)SGZNo.6DocumentofthePeople'sBankofHainanProvinceandre-registeredbyHainanPearlRiverEnterpriseCompanyonJanuary11,1992.TheCompanyissued81,880,000sharesintotaluponre-registration,ofwhich60,793,600shareswereconvertedfromthenetassetsoftheoriginalcompanyand21,086,400shareswerenewlyissued.AndthenameoftheCompanyisHainanPearlRiverEnterpriseCo.,Ltd.Thebusinesslicenseregistrationnumberofthejoint-stockcompanyis20128455-6,andtheholdingparentcompanyGuangzhouPearlRiverEnterpriseGroupholds36,393,600shares,accountingfor44.45%.ApprovedbyZGB(1992)No.83DocumentofthePeople'sBankofChinainDecember1992,theadditional21,086,400shareswerelistedontheShenzhenStockExchangefortrading.Theindustryinvolvedisrealestate.
OnMarch25,1993,inresponsetoQGBH(1993)No.028ofHainanProvincialLeadingGroupOfficeandSRYFZ(1993)No.099ofShenzhenSpecialEconomicZoneBranchofthePeople'sBankofChina,theCompanyincreaseditssharecapitalbyconvertingtheoriginalsharecapitalinto139,196,000shares(accordingtodistributionof10,deliveryof5andtransferof2),withthecontrollingshareholderGuangzhouPearlRiverEnterprisesGroupholding48,969,120sharesaccountingfor35.18%attheendof1993.
In1994,thesharecapitalwasincreasedby10to10,andthetotalsharecapitalwas278,392,000sharesaftertheincrease.Thecontrollingshareholder,GuangzhouPearlRiverEnterprisesGroup,holds97,938,240shares,accountingfor35.18%.
In1995,theissuanceof50,000,000BShareswasapprovedbySZBF(1995)No.45andSZBF(1995)No.12.ThesharecapitaloftheCompanywasincreasedby10:1.5onthebasisofthesharecapitalaftertheadditionalBshareswereissued,andthesharecapitaloftheCompanyaftertheincreasewas377,650,800shares.Theholdingparentcompany,GuangzhouPearlRiverEnterprisesGroup,held112,628,976shares,accountingfor29.82%ofthetotal.
In1999,GuangzhouPearlRiverEnterprisesGrouptransferredall112,628,976sharestoBeijingWanfaRealEstateDevelopmentCo.,Ltd.AfterthetransferofshareswascompletedinJune1999,BeijingWanfaRealEstateDevelopmentCo.,Ltd.held112,628,976sharesoftheCompany,accountingfor
29.82%ofthetotalsharesoftheCompany,andbecamethecontrollingshareholderoftheCompany.
NotestotheFinancialStatementsOnJanuary10,2000,thenameoftheCompanywaschangedtoHainanPearlRiverHoldingCo.,Ltd.andtheBusinessLicenseforEnterpriseLegalPersonwasrenewedbyIndustrial&CommerceAdministrationBureauofHainanProvince.OnAugust17,2006,thereformplanofthesplitsharestructureoftheCompanywasimplemented.TheCompanytransferred49,094,604sharesofcapitalstocktoallshareholdersattheratioof10to1.3.Theoriginalnon-tradableshareholderstransferredtheincreasedsharestothetradableA-shareholders.BeijingWanfaRealEstateDevelopmentCo.,Ltd.reimbursedtheconsiderationsharesofthenon-tradableshareholderswhohavenotexpresslyexpressedtheiropinions.Theconvertedtotalsharecapitalwas426,745,404shares,andtheoriginalcontrollingshareholderBeijingWanfaRealEstateDevelopmentCo.,Ltd.held107,993,698shares,accountingfor25.31%.Shareholdersofnon-tradablesharesrepaid3,289,780sharesinconsiderationofthesplitsharestructurein2007.Shareholdersofnon-tradablesharesrepaid1,196,000sharesinconsiderationofthesplitsharestructurein2009.
On2September2016,BeijingWanfaRealEstateDevelopmentCo.,Ltd.,theoriginalcontrollingshareholder,transferredallofits112,479,478sharestoBeijingGrainGroupCo.,Ltd.(hereinafterreferredtoas"BeijingGrainGroup").UponcompletionofthesharetransferinSeptember2016,BeijingGrainGroupCo.,Ltd.held112,479,478shares,accountingfor26.36%ofthetotalsharesoftheCompany.InNovember2016,basedontheconfidenceinthesubjectmatterofthematerialassetrestructuringandthefuturedevelopmentoftheCompany,BeijingGrainGroupCo.,Ltd.decidedtoincreaseitsshareholdingthroughcentralizedbiddinginthesecondarymarket.Aftertheincrease,itheld123,561,963sharesoftheCompany,accountingfor28.95%ofthetotalnumberofshares,andbecamethelargestshareholderoftheCompany.
TheCompanydeterminedJuly31,2017asthedeliverydateofmaterialassetsinaccordancewiththematerialassetsrestructuringplanandthedeliveryagreement.OnSeptember14,2017,approvedpursuanttotheresolutionoftheSecondExtraordinaryGeneralMeetingofShareholdersoftheCompanyonNovember18,2016andtheApprovalReplyoftheChinaSecuritiesRegulatoryCommissiondatedJuly28,2017OnApprovalofHainanPearlRiverHoldingCo.,Ltd.toPurchaseAssetsandRaiseSupportingFundsfromBeijingGrainGroupCo.,Ltd.(ZJXK(2017)No.1391):1)TheCompanypurchasedassetsfromtheoriginalshareholdersofBeijingGrainFoodCo.,Ltd.(hereinafterreferredtoasBeijingGrainFood)byissuing210,079,552sharesofthebalancebetweenthetransactionpriceoftheinjectedassetsandtheassetstobepurchased(thedifferencebetweenthetransactionpriceoftheinjectedassetsandtheassetstobepurchasedwasRMB1,699.5436millionyuan).TheparvalueintheissuancewasRMB1.00pershareandtheissuancepricewasRMB8.09pershare;2)TheCompanyhasissued48,965,408non-publicsharesoftheCompanytoBeijingGrainGroupforthepurposeofpurchasingthesupportingfundsraised
NotestotheFinancialStatementsfromtheassetsoftheissuanceofshares.TheparvaluepershareoftheCompanywasRMB1.00andtheissuancepricewasRMB8.82pershare.TheshareholderBeijingGrainGroupconductedsubscriptioninmonetaryfunds.Uponcompletionoftheissue,theregisteredcapitalwasRMB685,790,364.00andthesharecapitalwasRMB685,790,364.00.BeijingGrainGroup,whichaccountedfor42.06%ofthetotalnumberofshares,becamethelargestshareholderoftheCompany.OnNovember21,2019,withtheapprovalofBeijingShounongFoodGroupCo.,Ltd.(BeijingShounongFoodpublish[2019]No.212),ApprovalonthePlanofPurchasingAssetsbyCashandIssuingSharesofHainanJingliangHoldingsCo.,Ltd,OnApril,2020,withtheapprovalofApprovalofHainanJingliangHoldingCo.,Ltd.IssuanceSharestoWangYuechengtoPurchaseAssetsbyChinaSecuritiesRegulatoryCommission[2020]No.610,thecompanyshallnotissuemorethan41,159,887newsharesinprivateofferingtoraisefundssupportingthepurchaseofassetsthroughtheissuedshares.TheCompanyanditssubsidiary,BeijingJingliangFoodCo.,Ltd.,purchasedthe25.1149%equitystakeofZhejiangLittlePrincebycashandissuanceofshares.AsofDecember31,2023,thecompanyhasissued726,950,251.00shares,andthecompany'ssharecapitalis726,950,251.00yuan;UniformSocialCreditCode:914600002012845568;Registrationauthority:
HainanMarketSupervisionAdministration;Companytype:LimitedCompany(Listed,State-controlled);Registeredaddress:F29,DihaoBuilding,PearlRiverSquare,BinhaiAvenue,HaikouCity;Legalrepresentative:WangChunli.
2.ThenatureoftheCompany'sbusinessanditsmainbusinessactivitiesTheCompanybelongstomanufacturing-agriculturalandsidelinefoodprocessingindustry.Itsmainbusinessactivitiesmainlyincludes:food,beverages,oilseedsandbyproducts,vegetableproteinsandtheirproducts,organicfertilizers,microbialfertilizers,productionandmarketingofagriculturalfertilizers;landconsolidation,soilremediation;agriculturalcomprehensiveplantingdevelopment,animalhusbandryandaquaculture,agriculturalequipmentproductionandmarketing;computernetworktechnology,investmentincommunicationprojects,researchanddevelopmentandapplicationofhigh-techproducts;investmentandconsultationofenvironmentalprotectionprojects;animation,graphicdesign;importandexporttradeingoodsandtechnology;rentalofownpremises.TheCompanyanditssubsidiariesareprincipallyengagedintheprocessing,productionandsalesofoilandoilseeds,andprocessingandsalesoffoodstuffs.
3.Thenameoftheparentcompanyandtheultimateparentcompany.
TheparentcompanyofthecompanyisBeijingGrainGroupCo.,Ltd.,andtheultimateparentcompanyisBeijingCapitalAgribusinessFoodGroupCo.,Ltd.
4.BusinessCycle
From22March1988to20September2025
5.Theapprovalinstitutionandtheapprovaldateofthefinancialstatements.ThefinancialstatementshavebeenapprovedbytheBoardofDirectorsoftheCompanyinitsresolutiondatedMarch28,2024.II.PreparationBasisforFinancialStatements
1.PreparationBasisBasedontheassumptionofgoingconcernandaccordingtoactualtransactionevents,thefinancialstatementsarepreparedinaccordancewiththerelevantprovisionsofAccountingStandardforBusinessEnterprisesandthefollowingstatedSignificantAccountingPoliciesandEstimates.
2.Goingconcern
TheCompanyhasagoingconcerncapabilityfor12monthsfromtheendofthereportingperiodandnomaterialmattersaffectingthecompany'sgoingconcerncapabilitywerefound.Therefore,thefinancialstatementsarepresentedonagoingconcernbasisisreasonable.III.SignificantAccountingPoliciesandEstimates
TheCompanyanditssubsidiariesareengagedintheprocessing,productionandsalesofoilandoilseeds,andprocessingandsalesoffoodstuffs。.Accordingtothecharacteristicsofactualproductionandoperationandtheprovisionsofrelevantaccountingstandardsforbusinessenterprises,theCompanyanditssubsidiarieshaveformulatedanumberofspecificaccountingpoliciesandaccountingestimatesfortransactionsandeventssuchasrevenuerecognition.Fordetails,pleaserefertothedescriptionsinNoteⅢ,28“Revenue".
1.StatementofComplianceofAccountingStandardsforBusinessEnterprises
ThefinancialstatementspreparedbytheCompanybasedontheabovepreparationbasisconformtotherequirementsoftheAccountingStandardsforBusinessEnterprisesandtheirapplicationguidelines,explanationsandotherrelevantprovisions(collectivelyreferredtoas"ASBE")andtrulyandcompletelyreflecttheCompany'sfinancialstatus,operatingresults,cashflowandotherrelevantinformation.
2.AccountingPeriod
TheaccountingperiodoftheCompanyisdividedintoanannualperiodandaninterimperiod.Theaccountinginterimperiodreferstothereportingperiodshorterthanafullaccountingyear.ThefiscalyearoftheCompanyadoptstheGregoriancalendaryear,thatis,fromJanuary1toDecember31ofeachyear.
3.BusinessCycle
ThenormalbusinesscycleistheperiodfromthetimetheCompanypurchasesassetsforprocessingtothetimewhencashorcashequivalentsarerealized.TheCompanyuses12monthsasanbusinesscycleandusesitasaliquidityclassificationstandardforassetsandliabilities.
4.BookkeepingStandardCurrency
RMBisthecurrencyinthemaineconomicenvironmentinwhichtheCompanyanditsdomesticsubsidiariesoperate.TheCompanyanditsdomesticsubsidiariesuseRMBasthebookkeepingstandardcurrency.TheoffshoresubsidiariesoftheCompanydetermineUSDastheirbookkeepingstandardcurrencybasedonthecurrenciesinthemaineconomicenvironmentinwhichtheyoperate.ThecurrencyusedbytheCompanyinpreparingthesefinancialstatementsisRMB.
5.MaterialityStandardsDeterminationMethodandSelectionBasis
Thecompanyfollowsthematerialityprinciplewhenpreparinganddisclosingfinancialreports.Ifdisclosuremattersinvolvethejudgmentofmaterialitystandards.themethodsofdeterminingmaterialitystandardsandselectionbasisaredisclosedasfollows:
| Disclosuremattersinvolvethejudgmentofmaterialitystandards | Methodsofdeterminingmaterialitystandardsandselectionbasis |
| Impairmenttestmadeonindividualaccountsreceivablewithsignificantamounts. | Impairmenttestmadeonindividualaccountsreceivablesaccountingover10%astotalprovisionforvarioustypesofbaddebtsreceivablese,andamountsexceeding5millionyuan |
| Significantbaddebtreserveforaccountsreceivablerecoveredorreversed | Individualitemrecoveredorreversedaccountingover10%astotalamountsforvarioustypesofreceivablesandexceeding5millionyuan |
| Significantreceivablesactuallywrittenoff | Individualwrite-offamountaccountingforover10%astotalamountsofvarioustypesofbaddebtsreserveforreceivables,andamountsexceeding5millionyuan |
| Significantcontractualliabilitieswithagingoveroneyear | Individualcontractualliabilitieswithagingoveroneyearaccountingover10%oftotalamountofcontractualliabilities,andamountsexceeding10millionyuan |
| Significantprojectunderconstruction | Projectswithinvestmentsexceeding5millionyuan |
| Significantnon-whollyownedsubsidiaries | Non-whollyownedsubsidiarieswithindividualentityrevenueandnetprofitaccounting10%foritemsrelatedtotheCompany'sconsolidatedstatements |
| Disclosuremattersinvolvethejudgmentofmaterialitystandards | Methodsofdeterminingmaterialitystandardsandselectionbasis |
| Significantassociatedenterpriseandjoint-venture. | Associatedenterpriseandjoint-venturewithnetprofitsharerecognizedinthecurrentperiodaccounting5%foritemsrelatedtotheCompany’sconsolidatedstatements |
6.TheAccountingTreatmentofBusinessCombinationundertheSameControlandDifferentControl
BusinessCombinationreferstothetransactionoreventinwhichtwoormoreseparateenterprisesaremergedtoformonereportingentity.Businesscombinationcanbedividedintobusinesscombinationunderthesamecontrolandbusinesscombinationunderdifferentcontrol.
(1)Businesscombinationunderthesamecontrol
Enterprisesparticipatinginthecombinationareultimatelycontrolledbythesamepartyormultiplepartiesbeforeandafterthecombination,andthecontrolisnottemporary,soitisthebusinesscombinationunderthesamecontrol.Incaseofbusinesscombinationunderthesamecontrol,thepartythatobtainscontrolofotherenterprisesparticipatinginthecombinationonthecombinationdateshallbethecombinationparty,andtheotherenterprisesparticipatinginthecombinationshallbethemergedparty.Thecombinationdatereferstothedateonwhichthecombinationpartyactuallyacquirescontroloverthemergedparty.
Theassetsandliabilitiesacquiredbythecombinationpartyaremeasuredatthebookvalueofthemergedpartyatthedateofconsolidation,includinggoodwillthatwasformedduringacquisitionbyendcontroller.Ifthedifferencebetweenthebookvalueofthenetassetsacquiredbythemergingpartyandthebookvalueofthemergedconsideration(orthetotalparvalueoftheissuedshares)paidbythemergingparty,andthecapitalreserve(sharecapitalpremium)shallbeadjusted;Ifthecapitalreserve(equitypremium)isinsufficienttooffset,theretainedearningsshallbeadjusted.
Thedirectexpensesincurredbythemergingpartyforthepurposeofbusinesscombinationshallbeincludedintheprofitsandlossesofthecurrentperiodwhentheyareincurred.
(2)Businesscombinationunderdifferentcontrol
Iftheenterprisesparticipatinginthemergerarenotultimatelycontrolledbythesamepartyormultiplepartiesbeforeandafterthemerger,theenterprisemergerisnotunderthesamecontrol.Incaseofbusinesscombinationunderdifferentcontrol,thepartythatobtainscontrolofotherenterprisesparticipatinginthecombinationonthedateofpurchaseshallbethePurchaser,andtheotherenterprisesparticipatinginthecombinationshallbethePurchasee.PurchasedatemeansthedateonwhichthePurchaseractuallyacquirescontrolofthePurchasee.
NotestotheFinancialStatementsForbusinesscombinationunderdifferentcontrol,themergercostincludestheassets,liabilitiesandfairvalueofequitysecuritiesissuedbythePurchaserinordertoobtainthecontroloverthePurchaseeonthedateofpurchase,andtheintermediaryfeessuchasaudit,legalservice,appraisalandconsultationandothermanagementfeesfortheenterprisemergerareusedtorecordintotheprofitsandlossesofthecurrentperiodwhenincurred.ThetransactioncostsofequityordebtsecuritiesissuedbythePurchaserasamergerconsiderationareincludedintheinitialrecognitionamountoftheequityordebtsecurities.Contingentconsiderationinvolvedshallbeincludedintheconsolidationcostatitsfairvalueatthepurchasedate,andtheconsolidationgoodwillshallbeadjustedaccordinglyifneworfurtherevidenceoftheexistenceofcircumstancesatthepurchasedateappearswithin12monthsafterthepurchasedateandtheadjustmentorconsiderationisrequired.TheconsolidationcostincurredbythePurchaserandtheidentifiablenetassetsacquiredduringtheconsolidationaremeasuredatthefairvalueatthedateofpurchase.ThedifferencebetweenthemergercostsandthefairvaluesharesoftheidentifiablenetassetsofthePurchaseeatthepurchasedateobtainedinthemergerisrecognizedasgoodwill.IfthecombinedcostislessthanthefairvalueoftheidentifiablenetassetsofthePurchaseeinthemerger,first,thefairvalueoftheidentifiableassets,liabilitiesandcontingentliabilitiesofthePurchaseeandthemeasurementoftheconsolidationcostshallbere-checked.IftheconsolidationcostisstillsmallerthanthefairvalueshareoftheidentifiablenetassetsofthePurchasedobtainedintheconsolidationafterthere-check,thedifferenceshallberecordedintotheprofitsandlossesofthecurrentperiod.
WhenthePurchaseracquiresthedeductibletemporarydifferenceofthePurchasee,ifitfailstorecognizethedeferredincometaxassetsonthedateofpurchasebecauseitdoesnotmeettherecognitionconditionsforthedeferredincometax,andwithin12monthsofthedateofpurchase,neworfurtherinformationisobtainedindicatingthattherelevantcircumstancesatthepurchasedatealreadyexistandtheeconomicbenefitsfromthetemporarydifferencedeductiblebythepurchaseronthepurchasedateareexpectedtoberealized,therelevantdeferredincometaxassetsshallberecognized,andthegoodwillshallbereduced.Ifthegoodwillisnotsufficientlyoffset,thedifferenceshallberecognizedasthecurrentprofitorloss;Inadditiontotheabovecircumstances,thedeferredincometaxassetsrelatedtotheenterprisemergerarerecognizedandincludedinthecurrentprofitsandlosses.
Throughmulti-transactionandstep-by-stepbusinesscombinationunderdifferentcontrol,accordingtotheCircularoftheMinistryofFinanceonPrintingandIssuingtheInterpretationofAccountingStandardsforBusinessEnterprisesNo.5(CK(2012)No.19)andArticle51oftheAccountingStandardsforBusinessEnterprisesNo.33-ConsolidatedFinancialStatementsonthejudgmentcriteriaof"packagedeal"(see7(2)ofNoteⅢ),itisdeterminedwhetherthemultipletransactionsbelongtothe"packagedeal".Inthecaseofa"packagedeal",theaccountingtreatmentshallbeperformedwithreferencetothedescriptionintheprecedingparagraphsofthissectionandNoteⅢ,15"Long-termEquityInvestments";If
NotestotheFinancialStatementsthetransactionisnota"packagedeal",theaccountingtreatmentshallbedistinguishedbetweentheindividualfinancialstatementsandtheconsolidatedfinancialstatements:
Intheindividualfinancialstatements,thesumofthebookvalueoftheequityinvestmentheldbythePurchaserpriortothepurchasedateandthecostofthenewinvestmentatthepurchasedateshallbetakenastheinitialinvestmentcostoftheinvestment;WheretheequityofthePurchasedheldbeforethedateofpurchaseinvolvesothercomprehensiveincome,theotherconsolidatedincomeassociatedwiththeinvestmentisaccountedforonthesamebasisastheassetsorliabilitiesdirectlydisposedofbythePurchaser(i.e.,exceptforthecorrespondingshareinthechangecausedbytheacquisitionofthenetliabilityornetassetsofthedefinedbenefitplanremeasuredinaccordancewiththeequitymethod,therestistransferredtothecurrentinvestmentincome).
Intheconsolidatedfinancialstatements,theequityofthePurchasedheldpriortothedateofpurchaseisremeasuredaccordingtothefairvalueoftheequityatthedateofpurchase,andthedifferencebetweenthefairvalueandthecarryingvalueisincludedintheinvestmentincomeofthecurrentperiod;WheretheequityofthePurchaseeheldbeforethedateofpurchaseinvolvesothercomprehensiveincome,otherconsolidatedincomerelatedtheretoshallbeaccountedforonthesamebasisasthedirectdisposaloftherelevantassetsorliabilitiesbythePurchaser(i.e.,exceptforthecorrespondingshareinthechangecausedbytheacquisitionofthenetliabilityornetassetofthedefinedbenefitplanremeasuredinaccordancewiththeequitymethod,therestisconvertedintotheinvestmentincomeofthecurrentperiodtowhichtheacquisitiondatebelongs).
7.CriteriafortheJudgmentofControlandMethodsforthePreparationofConsolidatedFinancialStatements.
(1)CriteriafortheJudgmentofControl
Thescopeofconsolidationoftheconsolidatedfinancialstatementsisdeterminedonacontrolbasis.ControlmeansthattheCompanyhastheauthorityovertheInvestee,enjoysavariablereturnbyparticipatingintherelevantactivitiesoftheInvestee,andhastheabilitytouseitsauthorityovertheInvesteetoinfluencetheamountofsuchreturn.ThescopeofthemergerincludestheCompanyandallitssubsidiaries.SubsidiaryreferstothemainbodycontrolledbytheCompany.
TheCompanywillre-evaluatetheabovecontroldefinitionsoncetherelevantfactsandcircumstanceschange,whichresultsinthechangeoftherelevantelements.
(2)Preparationmethodofconsolidatedfinancialstatement
TheCompanybeginstoincorporatethenetassetsofthesubsidiaryandtheactualcontroloftheproductionandoperationdecisionsintothescopeofthemergerfromthedatewhenthesubsidiaryis
NotestotheFinancialStatementsacquired;Ceasetobeincludedinthescopeofthemergerasofthedateoflossofeffectivecontrol.Forthesubsidiariesdisposedof,theoperatingresultsandcashflowspriortothedateofdisposalhavebeenappropriatelyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatement;Forsubsidiariesdisposedofinthecurrentperiod,theopeningamountoftheconsolidatedbalancesheetisnotadjusted.Theoperatingresultsandcashflowsofsubsidiariesincreasedbyconsolidationafterpurchasehavebeenproperlyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatement,andtheopeningandcomparativeamountsintheconsolidatedfinancialstatementshavenotbeenadjustedforsubsidiariesthatarenotunderthesamecontrol.Theoperatingresultsandcashflowsofthesubsidiariesincreasedbyconsolidationunderthesamecontrolfromthebeginningoftheconsolidationperiodtotheconsolidationdatehavebeenappropriatelyincludedintheconsolidatedprofitstatementandconsolidatedcashflowstatement,andthecomparativeamountoftheconsolidatedfinancialstatementshasbeenadjustedatthesametime.
Inthepreparationoftheconsolidatedfinancialstatements,iftheaccountingpoliciesoraccountingperiodsadoptedbythesubsidiariesareinconsistentwiththoseadoptedbytheCompany,necessaryadjustmentsshallbemadetothefinancialstatementsofthesubsidiariesinaccordancewiththeaccountingpoliciesandaccountingperiodsoftheCompany.Forsubsidiariesacquiredthroughbusinesscombinationunderdifferentcontrol,thefinancialstatementsshallbeadjustedonthebasisofthefairvalueofidentifiablenetassetsatthedateofpurchase.
Allsignificanttransactionbalances,transactionsandunrealizedprofitswithintheCompanyareoffsetatthetimeofpreparationoftheconsolidatedfinancialstatements.
Theshareholders'equityandtheportionofthenetprofitorlossofthesubsidiarythatisnotownedbytheCompanyforthecurrentperiodareseparatelypresentedasminorityshareholders'equityandminorityshareholders'profitorlossintheconsolidatedfinancialstatementsundershareholders'equityandnetprofit.Thesharesofminorityshareholders'equityinthenetprofitsandlossesofsubsidiariesforthecurrentperiodareshownas"minorityshareholders'profitsandlosses"underthenetprofititemintheconsolidatedincomestatement.Lossessharedbyminorityshareholdersinasubsidiaryexceedtheminorityshareholders'shareintheshareholders'equityofthesubsidiaryatthebeginningoftheperiod,andstilldecreasebyanumberofshareholders'equity.
Whenthecontroloftheoriginalsubsidiaryislostduetothedisposalofpartoftheequityinvestmentorotherreasons,theresidualequityshallberevaluedaccordingtoitsfairvalueatthedateoflossofcontrol.Thesumofconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequityminusthedifferencebetweenthesharesofthenetassetsoftheoriginalsubsidiarythatshallbecontinuouslycalculatedfromthepurchasedateaccordingtotheoriginalshareholdingproportionshallbe
NotestotheFinancialStatementsincludedintheinvestmentincomeofthecurrentperiodoflossofcontrol.Othercomprehensiveincomerelatedtotheequityinvestmentoftheoriginalsubsidiary,intheeventoflossofcontrol,theaccountingtreatmentisperformedonthesamebasisasthedirectdisposaloftherelevantassetsorliabilitiesbythePurchased(i.e.convertedtocurrentinvestmentincome,exceptforchangesresultingfromthere-measurementofthenetliabilitiesornetassetsoftheDefinedBenefitPlanintheoriginalsubsidiary).Thereafter,theresidualequityshallbesubsequentlymeasuredinaccordancewiththerelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.2-Long-termEquityInvestmentorAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,asdetailedinNoteⅢ,15-Long-termEquityInvestmentorNoteⅢ,11-FinancialInstruments.
IftheCompanydisposesoftheequityinvestmentinsubsidiariesstepbystepuntilitlosescontrolthroughmultipletransactions.Itisnecessarytodistinguishwhetherthetransactionsthatdisposeoftheequityinvestmentinsubsidiariesuntilitlosescontrolbelongtoapackagedealornot.Theterms,conditionsandeconomicimpactofthetransactionsforthedisposalofequityinvestmentsinsubsidiariesareinaccordancewithoneormoreofthefollowingcircumstancesandgenerallyindicatethatmultipletransactionsshouldbeaccountedforasapackagedeal:①Thesetransactionswereenteredintosimultaneouslyortakingintoaccounteachother'sinfluence;②Onlywhenthesetransactionsaretakentogethercanacompletebusinessresultbeachieved;③Theoccurrenceofonetransactiondependsontheoccurrenceofatleastoneothertransaction;④Itisnoteconomicaltoconsideratransactionalone,butitiseconomicaltoconsideritinconjunctionwithothertransactions.Fortransactionsthatarenotpartofthepackagedeal,eachtransactionshallbeaccountedforinaccordancewiththeprinciplesapplicabletothe"partialdisposaloflong-termequityinvestmentsinsubsidiarieswithoutlossofcontrol"(asdetailedin15ofNoteⅢ)andthe"lossofcontroloverexistingsubsidiariesasaresultofthedisposalofpartoftheequityinvestmentsorotherreasons"(asdetailedintheprecedingparagraph),asappropriate.Ifthetransactionsinvolvingthedisposalofequityinvestmentsinsubsidiariesuntilthelossofcontrolbelongtoapackagedeal,thetransactionsshallbeaccountedforasatransactioninvolvingthedisposalofsubsidiariesandthelossofcontrol;However,thedifferencebetweeneachdisposalpriceandtheshareofthesubsidiary'snetassetscorrespondingtothedisposalinvestmentpriortothelossofcontrolisrecognizedintheconsolidatedfinancialstatementsasotherconsolidatedgainsandtransferredtotheprofitorlossforthecurrentperiodoflossofcontrolintheeventoflossofcontrol.8ClassificationofJointVentureArrangementsandAccountingTreatmentofJointOperation
Ajointventurearrangementisanarrangementunderthejointcontroloftwoormoreparticipants.TheCompanydividesthejointventurearrangementintojointoperationandjointventureinaccordancewiththerightsandobligationsitenjoysinthejointventurearrangement.Ajointoperationisajointarrangementwherebythepartiesthathavejointcontrolofthearrangementhaverightstotheassets,and
NotestotheFinancialStatementsobligationsfortheliabilities,relatingtothearrangement.Ajointventureisatypeofjointarrangementwherebythepartiesthathavejointcontrolofthearrangementhaverightstothenetassetsofthejointventure.
TheCompany'sinvestmentinthejointventureisaccountedforusingtheequitymethod,andshallbetreatedinaccordancewiththeaccountingpolicydescribedinNoteⅢ,15"Long-termEquityInvestmentAccountedbytheEquityMethod".
TheCompany,asajointventureparty,recognizestheassetsandliabilitiesheldandassumedbytheCompanyseparately,andrecognizestheassetsandliabilitiesjointlyheldandassumedbytheCompanyaccordingtothesharesoftheCompany;recognizestherevenuegeneratedfromthesaleoftheshareofjointoperatingoutputenjoyedbytheCompany;recognizesrevenuegeneratedfromthesaleofoutputfromjointoperationsonthebasisoftheCompany'sshare;confirmstheexpensesincurredbytheCompanyindividuallyandtheexpensesincurredbythejointoperationaccordingtothesharesoftheCompany.
WhentheCompanyinvestsorsellsassetsasajointventure(suchassetsdonotconstitutebusiness,thesamebelow),orpurchasesassetsfromthejointventure,theCompanyrecognizesonlytheportionoftheprofitsandlossesattributabletotheotherparticipantsinthejointventurethatarisesfromthetransactionpriortothesaleofsuchassetstoathirdparty.WheresuchassetsareimpairedinaccordancewiththeprovisionsofAccountingStandardsforBusinessEnterprisesNo.8-ImpairmentofAssets,theCompanyshallfullyrecognizesuchlossesinthecasewheretheassetsarecastorsoldbytheCompanytojointoperations;FortheassetspurchasedbytheCompanyfromthejointoperation,theCompanyrecognizesthelossesaccordingtothesharesitassumes.
9.DeterminingStandardsforCashandCashEquivalent
CashandcashequivalentsoftheCompanyincludecashonhand,depositsthatcanbereadilywithdrawnondemand.CashequivalentsareinvestmentsheldbytheCompanywithashortterm(usuallymaturingwithinthreemonthsfromthedateofpurchase),highliquidity,readilyconvertibletoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangesinvalue.
10.ForeignCurrencyBusinessandTranslationofForeignCurrencyStatements
(1)Translationmethodforforeigncurrencytransaction
Atthetimeofinitialconfirmation,theforeigncurrencytransactionsoccurringintheCompanyshallbeconvertedintothebookkeepingfunctionalcurrencyamountatthespotexchangerateonthetradingday,buttheforeigncurrencyexchangebusinessortransactionsinvolvingforeigncurrencyexchangeoccurringintheCompanyshallbeconvertedintothebookkeepingfunctionalcurrencyamountattheactualexchangerate.
(2)Translationmethodforforeigncurrencymonetaryitemsandforeigncurrencynon-monetaryitemOnthebalancesheetdate,theforeigncurrencymonetaryitemsareconvertedatthespotexchangerateonthebalancesheetdate,andtheexchangedifferencearisingtherefromshallbe:①Theexchangedifferencearisingfromthespecialforeigncurrencyborrowingsrelatedtotheacquisitionandconstructionofassetseligibleforcapitalizationshallbehandledinaccordancewiththeprincipleofcapitalizationofborrowingcosts;②Theexchangedifferenceofthehedginginstrumentsusedforeffectivehedgingofthenetinvestmentinoverseasoperations(thedifferenceisincludedinothercomprehensiveincome,andisnotrecognizedascurrentprofitorlossuntilthenetinvestmentisdisposedof);③Exceptfortheamortizedcost,theexchangedifferencesarisingfromthechangesinthebookbalanceoftheavailable-for-salemonetaryitemsinforeigncurrenciesshallbeincludedintheothercomprehensiveincome,andshallbeincludedintheprofitsandlossesofthecurrentperiod.
Wherethepreparationoftheconsolidatedfinancialstatementsinvolvesoverseasoperations,ifthereareforeigncurrencymonetaryitemsconstitutingnetinvestmentinoverseasoperations,theexchangedifferencesarisingfromexchangeratechangesshallbeincludedinothercomprehensiveincome;Whendisposingofoverseasoperations,theprofitsandlossesshallbetransferredtothecurrentdisposalperiod.
Non-monetaryitemsinforeigncurrenciesmeasuredathistoricalcostshallstillbemeasuredatthebookkeepingamountinfunctionalcurrencytranslatedatthespotexchangerateonthetransactiondate.Fornon-monetaryitemsinforeigncurrenciesmeasuredatfairvalue,thespotexchangerateatthedateoffairvaluedeterminationshallbeadoptedforconversion.Thedifferencebetweentheconvertedamountinfunctionalcurrencyandtheamountinoriginalfunctionalcurrencyshallbetreatedasthechangeinfairvalue(includingthechangeinexchangerate),andshallberecordedintotheprofitsandlossesofthecurrentperiodorrecognizedasothercomprehensiveincome.
(3)Translationmethodforfinancialstatementsinforeigncurrencies
Wherethepreparationoftheconsolidatedfinancialstatementsinvolvesoverseasoperations,ifthereareforeigncurrencymonetaryitemsconstitutingnetinvestmentinoverseasoperations,theexchangedifferencesarisingfromexchangeratechangesshallbeas"foreigncurrencyreportconversiondifference"andbeconfirmedasothercomprehensiveincome;Whendisposingofoverseasoperations,theprofitsandlossesshallbetransferredtothecurrentdisposalperiod.
TheforeigncurrencyfinancialstatementsofoverseasoperationsshallbeconvertedintoRMBstatementsinthefollowingways:theassetsandliabilitiesinthebalancesheetshallbeconvertedatthespotexchangerateonthebalancesheetdate;Exceptfor"undistributedprofits",otheritemsofshareholders'equityshallbeconvertedatthespotexchangerateatthetimeofoccurrence.Theincomeandexpenseitemsintheprofitstatementshallbeconvertedattheaverageexchangerateofthecurrentperiod
NotestotheFinancialStatementsonthedateoftransaction.Theundistributedprofitatthebeginningoftheperiodshallbetheundistributedprofitattheendoftheperiodconvertedfromthepreviousyear;Theundistributedprofitsattheendoftheyearshallbecalculatedandlistedaccordingtotheconvertedprofitsdistributionitems;Thedifferencebetweentheconvertedassetitemsandthetotalamountoftheliabilityitemsandshareholders'equityitemsshallberecognizedasothercomprehensiveincomeasthetranslationdifferenceintheforeigncurrencystatements.Incaseofdisposalofoverseasoperationsandlossofcontrol,thebalanceintranslationoftheforeigncurrencystatementsrelatedtotheoverseasoperationsasshownbelowintheshareholders'equityitemsinthebalancesheetshallbetransferredtotheprofitsandlossesofthedisposalperiodinwholeorinproportiontothedisposaloftheoverseasoperations.Cashflowsinforeigncurrenciesandcashflowsofoverseassubsidiariesshallbeconvertedattheaverageexchangerateofthecurrentperiodonthedateofoccurrenceofthecashflows.Theeffectofexchangeratechangesoncashshallbepresentedseparatelyinthestatementofcashflowsasanreconcilingitem.
Openingamountsandprior-periodactualamountsshallbeshownonthebasisofamountstranslatedfromtheprior-periodfinancialstatements.
Whendisposingofalltheowner'sequityoftheCompany'soverseasoperationsorlosingthecontroloveroverseasoperationsduetothedisposalofpartoftheequityinvestmentorforotherreasons,ifthefollowingitemsofshareholders'equityinthebalancesheetareshownbelow,thebalanceintranslationoftheforeigncurrencystatementattributabletotheowner'sequityoftheparentcompanyrelatedtotheoverseasoperationshallbetransferredtotheprofitsandlossesofthecurrentdisposalperiod.
Intheeventthattheproportionofoverseasbusinessinterestsisreducedduetothedisposalofpartoftheequityinvestmentorforotherreasons,butthecontroloveroverseasbusinessoperationsisnotlost,thebalanceinthetranslationoftheforeigncurrencystatementsrelatedtothedisposalofpartofoverseasbusinessoperationsshallbeattributedtominorityshareholders'interestsandshallnotbetransferredtotheprofitsandlossesofthecurrentperiod.Whendisposingofpartoftheequityofanoverseasoperationasanassociatedenterpriseorajointventure,thebalanceofthetranslationoftheforeigncurrencystatementsrelatedtotheoverseasoperationshallbetransferredintotheprofitsandlossesofthecurrentdisposalperiodintheproportionoftheoverseasoperationdisposedof.
11.Financialinstruments
Financialinstrumentsarethecontractsthatformthefinancialassetsofoneentity,andatthesametimeformthefinancialliabilitiesorequityinstrumentsofotherentities.
(1)Classification,confirmationandmeasurementoffinancialassets
NotestotheFinancialStatementsAccordingtothebusinessmodeofmanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,theCompanydividesfinancialassetsinto:Financialassetsmeasuredatamortizedcost.Financialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome.Financialassetsthataremeasuredatfairvalueandwhosemovementsareincludedinthecurrentprofitsandlosses.
Financialassetsaremeasuredatfairvalueatinitialrecognition.Forfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlosses,relevanttransactioncostsaredirectlyincludedincurrentprofitsandlosses.Forothertypesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.AccountsreceivableornotesreceivablearisingfromthesaleofproductsortheprovisionoflaborservicesthatdonotcontainortakeintoaccountsignificantfinancingcomponentsshallbeinitiallyrecognizedbytheCompanyinaccordancewiththeamountofconsiderationthattheCompanyisexpectedtobeentitledtoreceive.
1Financialassetsmeasuredatamortizedcost
TheGroupmeasuresfinancialassetsatfairvaluethroughothercomprehensiveincomeifbothofthefollowingconditionsaremet:thefinancialassetisheldwithinabusinessmodelwiththeobjectiveofbothholdingtocollectcontractualcashflowsandselling;thecontractualtermsofthefinancialassetgiveriseonspecifieddatestocashflowsthataresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.Interestincomeofsuchfinancialassetsisrecognizedbasedoneffectiveinterestmethod.TheCompanymeasuresthesefinancialassetsatfairvalueandtheirchangesareincludedinothercomprehensiveincome,butimpairmentlossorgain,exchangegainorlossandinterestincomecalculatedaccordingtotheeffectiveinterestratemethodareincludedintothecurrentprofitandloss.
2Financialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome
TheGroupmeasuresfinancialassetsatfairvaluethroughothercomprehensiveincomeifbothofthefollowingconditionsaremet:thefinancialassetisheldwithinabusinessmodelwiththeobjectiveofbothholdingtocollectcontractualcashflowsandselling;thecontractualtermsofthefinancialassetgiveriseonspecifieddatestocashflowsthataresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.Interestincomeofsuchfinancialassetsisrecognisedbasedoneffectiveinterestmethod.TheCompanymeasuresthesefinancialassetsatfairvalueandtheirchangesareincludedinothercomprehensiveincome,butimpairmentlossorgain,exchangegainorlossandinterestincomecalculatedaccordingtotheeffectiveinterestratemethodareincludedintothecurrentprofitandloss.
Inaddition,theCompanydesignatessomenontradableequityinstrumentinvestmentsasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome.TheCompanyshall
NotestotheFinancialStatementsrecordtherelevantdividendincomeofsuchfinancialassetsintothecurrentprofitsandlosses,andthechangeoffairvalueintoothercomprehensiveincome.Whenthefinancialassetisderecognized,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomewillbetransferredfromothercomprehensiveincometoretainedincomeandwillnotbeincludedincurrentprofitsandlosses.3FairvaluethroughProfitandLossFinancialassetsTheCompanyclassifiestheabovefinancialassetsmeasuredatamortizedcostandfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeintofinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.Inaddition,duringinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatch,theCompanydesignatedpartoffinancialassetsasfinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitandloss.Forsuchfinancialassets,theCompanyadoptsfairvalueforsubsequentmeasurement,andthechangesinfairvalueareincludedintothecurrentprofitandloss.
(2)Classification,recognitionandmeasurementoffinancialliabilitiesFinancialliabilitiesuponinitialrecognitionareclassifiedasfinancialliabilitieswhicharemeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlossesandotherfinancialliabilities.Forthefinancialliabilitiesmeasuredatfairvaluewiththechangesincludedintothecurrentprofitsandlosses,therelevanttransactioncostsaredirectlyincludedintothecurrentprofitsandlosses,andtherelevanttransactioncostsofotherfinancialliabilitiesareincludedintheinitialrecognitionamount.1Financialliabilitiesatfairvaluethroughprofitorloss
Financialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses,whichincludetransactionalfinancialliabilities(includingderivativesbelongingtofinancialliabilities)andfinancialliabilitiesdesignatedtobemeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesatinitialrecognition.
Tradingfinancialliabilities(includingderivativesbelongingtofinancialliabilities)aresubsequentlymeasuredaccordingtotheirfairvalues.Exceptforthoserelatedtohedgeaccounting,changesinfairvaluesareincludedincurrentprofitsandlosses.
Financialliabilitiesdesignatedtobemeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.ChangesinthefairvalueofthisliabilitycausedbychangesintheCompany'sowncreditriskareincludedinothercomprehensiveincome.Whentheliabilityisderecognized,theaccumulatedchangeinfairvaluecausedbychangesinitsowncreditriskincludedinothercomprehensiveincomeistransferredtoretainedearnings.Changesinfairvalueareaccountedintocurrentprofitsandlosses.Iftheabove-mentionedtreatmentoftheimpactofchangesinthecreditriskofthesefinancialliabilitieswill
NotestotheFinancialStatementscauseorexpandaccountingmismatchinprofitsandlosses,theCompanywillincludeallprofitsorlossesofthefinancialliabilities(includingtheimpactamountofchangesinthecreditriskoftheenterpriseitself)intothecurrentprofitsandlosses.2Otherfinancialliabilities
Exceptforfinancialliabilitiesandfinancialguaranteecontractsformedbythetransferoffinancialassetsthatdonotmeettheconditionsforterminationofrecognitionorcontinuetobeinvolvedinthetransferredfinancialassets,otherfinancialliabilitiesareclassifiedasfinancialliabilitiesmeasuredatamortizedcostandsubsequentlymeasuredatamortizedcost.Gainsorlossesarisingfromterminationofrecognitionoramortizationareincludedincurrentprofitsandlosses.
(3)BasisofConfirmationandCalculationoffinancialinstruments
Financialassetsshallbederecognizediftheymeetoneofthefollowingconditions:①Theterminationofthecontractualrighttoreceivecashflowfromthefinancialasset.②Thefinancialassethasbeentransferred,andalmostallrisksandrewardsrelatedtotheownershipofthefinancialassethavebeentransferredtothetransferee.③Thefinancialassethasbeentransferred.Althoughtheenterprisehasneithertransferrednorretainedalmostallrisksandrewardsintheownershipofthefinancialasset,ithasgivenupitscontroloverthefinancialasset.
Iftheenterpriseneithertransfersnorretainsalmostalltherisksandrewardsoftheownershipofthefinancialassets,anddoesnotgiveupthecontroloverthefinancialassets,therelevantfinancialassetsshallberecognizedaccordingtotheextentofcontinuousinvolvementinthetransferredfinancialassets,andtherelevantliabilitiesshallberecognizedaccordingly.Thedegreeofcontinuousinvolvementinthetransferredfinancialassetsreferstotherisklevelfacedbytheenterpriseduetothechangeinthevalueofthefinancialassets.
Iftheoveralltransferoffinancialassetsmeetstheconditionsforterminationofrecognition,thedifferencebetweenthebookvalueofthetransferredfinancialassetsandthesumoftheconsiderationreceivedduetothetransferandtheaccumulatedamountofchangesinfairvalueoriginallyincludedinothercomprehensiveincomeshallbeincludedintothecurrentprofitsandlosses.
Ifthepartialtransferoffinancialassetsmeetstheconditionsforterminationofrecognition,thebookvalueofthetransferredfinancialassetsshallbeapportionedaccordingtoitsrelativefairvaluebetweenthederecognizedpartandthenonderecognizedpart,andthedifferencebetweenthesumoftheconsiderationreceivedduetothetransferandtheaccumulatedchangeinfairvalueoriginallyincludedinothercomprehensiveincomethatshallbeapportionedtothederecognizedpartandtheallocatedaforesaidbookamountshallbeincludedintothecurrentprofitsandlosses.
NotestotheFinancialStatementsForfinancialassetssoldbytheCompanywithrecourse,orforendorsementandtransferofheldfinancialassets,itisnecessarytodeterminewhetheralmostallrisksandrewardsintheownershipofthefinancialassetshavebeentransferred.Ifalmostallrisksandrewardsintheownershipofthefinancialassethavebeentransferredtothetransferee,therecognitionofthefinancialassetshallbeterminated.Ifalmostallrisksandrewardsontheownershipofafinancialassetareretained,therecognitionofthefinancialassetshallnotbeterminated.Ifalmostallrisksandrewardsrelatedtotheownershipoffinancialassetshavenotbeentransferredorretained,itshallcontinuetojudgewhethertheenterpriseretainscontrolovertheassetsandcarryoutaccountingtreatmentaccordingtotheprinciplesmentionedintheprecedingparagraphs.
(4)TerminationofrecognitionoffinancialliabilitiesIfthecurrentobligationofthefinancialliability(orpartthereof)hasbeenrelieved,theCompanyterminatestherecognitionofthefinancialliability(orpartthereof).TheCompany(theborrower)andthelendersignanagreementtoreplacetheoriginalfinancialliabilitiesbyassumingnewfinancialliabilities.Ifthecontracttermsofthenewfinancialliabilitiesandtheoriginalfinancialliabilitiesaresubstantiallydifferent,theoriginalfinancialliabilitiesshallbederecognizedandanewfinancialliabilityshallberecognizedatthesametime.IftheCompanymakesanysubstantialmodificationtothecontracttermsoftheoriginalfinancialliability(orpartthereof),theoriginalfinancialliabilityshallbederecognizedandanewfinancialliabilityshallberecognizedinaccordancewiththemodifiedterms.
Iffinancialliabilities(orpartthereof)arederecognized,theCompanyshallincludethedifferencebetweenitsbookvalueandtheconsiderationpaid(includingtransferrednon-cashassetsorliabilitiesassumed)intothecurrentprofitsandlosses.
(5)Offsetoffinancialassetsandfinancialliabilities
WhentheCompanyhasthelegalrighttooffsettherecognizedamountoffinancialassetsandfinancialliabilities,andsuchlegalrightiscurrentlyenforceable,andtheCompanyplanstosettlethefinancialassetsonanetbasisorrealizethefinancialassetsandsettlethefinancialliabilitiesatthesametime,thefinancialassetsandfinancialliabilitiesarelistedinthebalancesheetatanetamountaftermutualoffset.Inaddition,financialassetsandfinancialliabilitiesshallbelistedseparatelyinthebalancesheetandshallnotbeoffsetagainsteachother.
(6)Thefairvaluedeterminationmethodoffinancialassetsandfinancialliabilities
Fairvaluereferstothepricethatmarketparticipantscanreceivefromsellinganassetorpaytotransferaliabilityinanorderlytransactiononthemeasurementdate.Wherethereisanactivemarketforfinancialinstruments,theCompanyadoptsquotationsintheactivemarkettodeterminetheirfairvalues.Quotedpriceinactivemarketreferstothepriceeasilyobtainedfromexchanges,brokers,industry
NotestotheFinancialStatementsassociations,pricingserviceagencies,etc.onaregularbasis,andrepresentsthepriceofmarkettransactionsactuallyoccurredinfairtrading.Ifthereisnoactivemarketforfinancialinstruments,theCompanyusesevaluationtechniquestodeterminetheirfairvalues.Evaluationtechniquesincludereferencetopricesusedinrecentmarkettransactionsbypartiesfamiliarwiththesituationandwillingtotrade,referencetocurrentfairvaluesofotherfinancialinstrumentsthataresubstantiallythesame,discountingcashflowtechnique,optionpricingmodel,etc.Invaluation,theCompanyadoptsvaluationtechniquesthatareapplicableundercurrentcircumstancesandaresupportedbysufficientavailabledataandotherinformation,selectsinputvaluesthatareconsistentwiththecharacteristicsofassetsorliabilitiesconsideredbymarketparticipantsintransactionsrelatedtoassetsorliabilities,andgivesprioritytotheuseofrelevantobservableinputvaluesasmuchaspossible.Iftherelevantobservableinputvaluecannotbeobtainedoritisnotimpracticabletoobtainit,thenon-inputvalueshallbeused.
(7)EquityinstrumentsEquityinstrumentsrefertocontractsthatcanproveownershipoftheCompany'sresidualequityinassetsafterdeductingallliabilities.Theissuance(includingrefinancing),repurchase,saleorcancellationofequityinstrumentsbytheCompanyaretreatedaschangesinequity,andtransactioncostsrelatedtoequitytransactionsaredeductedfromequity.TheCompanydoesnotrecognizechangesinthefairvalueofequityinstruments.
Dividends(including"interest"generatedbyinstrumentsclassifiedasequityinstruments)distributedbytheCompany'sequityinstrumentsduringtheirexistenceshallbetreatedasprofitdistribution.
12.Impairmentoffinancialassets
ThefinancialassetsoftheCompanythatneedtoconfirmtheimpairmentlossarefinancialassetsmeasuredatamortizedcostanddebtinstrumentinvestmentmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome,mainlyincludingnotesreceivable,accountsreceivable,otherreceivables,debtinvestment,otherdebtinvestment,long-termreceivables,etc.Inaddition,forsomefinancialguaranteecontracts,impairmentreservesandcreditimpairmentlossesarealsoaccruedinaccordancewiththeaccountingpoliciesdescribedinthispart.
(1)Recognitionmethodofimpairmentprovision
Onthebasisofexpectedcreditlosses,theCompanysetsasideimpairmentreservesandrecognizescreditimpairmentlossesfortheaboveitemsaccordingtotheapplicableexpectedcreditlossmeasurementmethod(generalmethodorsimplifiedmethod).
CreditlossreferstothedifferencebetweenallcontractualcashflowsreceivableaccordingtothecontractandallcashflowsexpectedtobecollectedbytheCompanydiscountedaccordingtotheoriginal
NotestotheFinancialStatementsactualinterestrate,i.e.thepresentvalueofallcashshortages.Amongthem,forthefinancialassetsthathavebeenpurchasedorincurredcreditimpairment,theCompanydiscountsthemaccordingtotheactualinterestrateadjustedbycredit.ThegeneralmethodofmeasuringexpectedcreditlossreferstotheCompany'sassessmentofwhetherthecreditriskoffinancialassetshasincreasedsignificantlysincetheinitialrecognitiononeachbalancesheetdate.Ifthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanywillmeasurethelossreservebyanamountequivalenttotheexpectedcreditlossduringtheentireperiod.Ifthecreditriskhasnotincreasedsignificantlysincetheinitialrecognition,theCompanywillmeasurethelossreserveaccordingtotheamountequivalenttotheexpectedcreditlossinthenext12months.Inassessingtheexpectedcreditloss,theCompanytakesintoaccountallreasonableandevidence-basedinformation,includingforward-lookinginformation.Forfinancialinstrumentswithlowcreditriskonthebalancesheetdate,theCompanymeasuresthelossreservebasedontheexpectedcreditlossamountwithinthenext12monthsortheentiredurationaccordingtowhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.
(2)CriteriaforjudgingwhethercreditriskhasincreasedsignificantlysinceinitialrecognitionIfthedefaultprobabilityofacertainfinancialassetintheexpecteddurationdeterminedatthebalancesheetdateissignificantlyhigherthanthedefaultprobabilityintheexpecteddurationdeterminedatthetimeofinitialrecognition,itindicatesthatthecreditriskofthefinancialassetissignificantlyincreased.Exceptforspecialcircumstances,theCompanyusesthechangeofdefaultriskinthenext12monthsasareasonableestimateofthechangeofdefaultriskintheentiredurationtodeterminewhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.Generally,iftheoverdueperiodismorethan90days,theCompanywillconsiderthatthecreditriskofthefinancialinstrumenthasincreasedsignificantly,unlessthereisconclusiveevidencethatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.TheCompanywillconsiderthefollowingfactorswhenevaluatingwhetherthecreditriskhasincreasedsignificantly
1)Whetherthereisanysignificantchangeintheactualorexpectedoperatingresultsofthedebtor;
2)Whetherthereisanysignificantadversechangeintheregulatory,economicortechnologicalenvironmentofthedebtor;
3)Whetherthereisanysignificantchangeinthevalueofthecollateralorthequalityoftheguaranteeorcreditenhancementprovidedbythethirdparty,whichareexpectedtoreducetheeconomicmotivation
NotestotheFinancialStatementsofthedebtor'srepaymentaccordingtothetimelimitstipulatedinthecontractoraffecttheprobabilityofdefault;
4)Whetherthereisanysignificantchangeintheexpectedperformanceandrepaymentbehaviorofthedebtor;
5)WhetherthereisanysignificantchangeintheCompany'screditmanagementmethodsforfinancialinstruments,etc.
Onthebalancesheetdate,iftheCompanyjudgesthatthefinancialinstrumenthasonlylowcreditrisk,theCompanyassumesthatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.Ifthedefaultriskofafinancialinstrumentislow,theborrower'sabilitytoperformitscontractualcashflowobligationsinashortperiodoftimeisstrong,andevenifthereareadversechangesintheeconomicsituationandoperatingenvironmentforalongperiodoftime,itmaynotnecessarilyreducetheborrower'sabilitytoperformitscontractualcashobligations,thenthefinancialinstrumentisconsideredtohavelowcreditrisk.
(3)Judgmentcriteriaforfinancialassetswithcreditimpairment:
Whenoneormoreeventshaveanadverseimpactontheexpectedfuturecashflowofafinancialasset,thefinancialassetbecomesafinancialassetwithcreditimpairment.Theevidenceofcreditimpairmentoffinancialassetsincludesthefollowingobservableinformation:
1)Theissuerordebtorhasmajorfinancialdifficulties;
2)Thedebtorviolatesthecontract,suchasdefaultoroverduepaymentofinterestorprincipal,etc.;
3)Thecreditorgivesconcessionsthatthedebtorwillnotmakeunderanyothercircumstancesduetoeconomicorcontractualconsiderationsrelatedtothedebtor'sfinancialdifficulties;
4)Thedebtorislikelytogobankruptorundergootherfinancialrestructuring;
5)Theactivemarketofthefinancialassetsdisappearsduetothefinancialdifficultiesoftheissuerorthedebtor;
6)Purchaseorgenerateafinancialassetatasubstantialdiscount,whichreflectsthefactthatcreditlosseshaveoccurred.
Creditimpairmentoffinancialassetsmaybecausedbythecombinedactionofmultipleevents,butmaynotbecausedbyseparatelyidentifiableevents.
(4)Portfolioapproachtoevaluateexpectedcreditriskbasedonportfolio
NotestotheFinancialStatementsTheCompanyevaluatescreditrisksforfinancialassetswithsignificantlydifferentcreditrisks,suchas:Accountsreceivablewithrelatedparties.Receivablesindisputewiththeotherpartyorinvolvinglitigationorarbitration.Receivableswithobvioussignsthatthedebtorislikelytobeunabletoperformtherepaymentobligation.Inadditiontothefinancialassetswithindividualcreditriskassessment,theCompanydividesthefinancialassetsintodifferentgroupsbasedonthecommonriskcharacteristics.ThecommoncreditriskcharacteristicsadoptedbytheCompanyinclude:Creditriskshallbeassessedonthebasisoftheagingportfolio,thereceivablesportfoliobetweenthefinalcontrollingpartyanditssubordinateunits,thepublicmaintenancefundandhousesellingfundportfoliodepositedinthehousingprovidentfundmanagementcenter,thedeposit/marginportfolio,andthepettycashledgerportfolioformedbytheemployeeloanoftheunit.
(5)AccountingtreatmentmethodforimpairmentoffinancialassetsAttheendoftheperiod,theCompanycalculatestheestimatedcreditlossesofvariousfinancialassets.Iftheestimatedcreditlossesaregreaterthanthebookamountofitscurrentimpairmentreserve,thedifferenceisrecognizedasimpairmentloss.Ifitislessthanthecarryingamountofthecurrentimpairmentreserve,thedifferenceisrecognizedasimpairmentgain.
(6)Methodsfordeterminingthecreditlossofvariousfinancialassets
①NotesreceivableTheCompanymeasuresthelossreserveforbillsreceivableaccordingtotheexpectedcreditlossamountequivalenttotheentireduration.Basedonthecreditriskcharacteristicsofbillsreceivable,theyaredividedintodifferentportfolios:
| Item | Basisfordeterminingportfolio |
| Bankacceptancebills | Theacceptorisabankwithlesscreditrisk |
| Commercialacceptancebill | Accordingtotheacceptor'screditriskclassification,itshouldbethesameasthe"receivable"portfolioclassification. |
Asforthenotesreceivables’classifiedasportfolio,theCompanyreferredtothehistoricalcreditlossexperience,combinedwithcurrentsituationandforecastforthefutureeconomiccondition,calculatingtheexpectedcreditloss.Throughriskexposureatdefaultandlifetimeexpectedcreditloss,
②Accountsreceivableandotherreceivables
Forreceivablesthatdonotcontainsignificantfinancingcomponents,theCompanymeasuresthelossreserveaccordingtotheexpectedcreditlossamountequivalenttotheentireduration.
Forreceivablesthatcontainsignificantfinancingcomponents,theCompanymeasuresthelossreservebasedonwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition,usingtheamountofexpectedcreditlosswithinthenext12monthsortheentireduration.Accordingtowhetherthecreditriskofotherreceivableshasincreasedsignificantlysincetheinitialrecognition,theCompanymeasuresimpairmentlosswithanamountequivalenttotheexpectedcreditlosswithinthenext12monthsortheentireduration.
Inadditiontotheaccountsreceivableandotherreceivablesthatindividuallyassesscreditrisk,theyaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
| Item | Basisfordeterminingportfolio |
| Portfolio1 | Creditportfolio |
Asforthereceivablesclassifiedasportfolio,theCompanyreferredtothehistoricalcreditlossexperience,combinedwithcurrentsituationandforecastforthefutureeconomiccondition,calculatingtheexpectedcreditloss.Throughcrossreferencetablebetweentheagingofreceivablesandlifetimeexpectedcreditloss.Theagingofreceivablesiscalculatedonthedateofrecognition.
Theportfolioofotherreceivableisrecognizedasfollows:
| Item | Basisfordeterminingportfolio |
| Portfolio1 | Creditportfolio |
| Portfolio2 | Deposit/marginportfolio |
| Portfolio3 | TheportfolioofreservefundledgerformedbytheCompany'sstaffloan |
Asfortheotherreceivablesclassifiedasportfolio,theCompanyreferredtothehistoricalcreditlossexperience,combinedwithcurrentsituationandforecastforthefutureeconomiccondition,calculatingtheexpectedcreditloss.Throughriskexposureatdefaultandlifetimeexpectedcreditlossinthecoming12months.Fortheotherreceivablesclassifiedasaging,iscalculatedonthedateofrecognition.
13.Inventory
(1)Classificationofinventory
Inventoriesmainlyincluderawmaterials,workinprogress,finishedgoods,intransitmaterialsinventorygoods,reservetankerstoragecommissionedprocessing,andmanufacturingconsignment,etc..
(2)Valuationmethodforobtainingandissuinginventory
Inventoriesareinitiallymeasuredatcost.Inventorycostsincludepurchasecosts,processingcostsandotherexpenditures.Theactualcostofinventoriesupondeliveryiscalculatedusingtheweightedaveragemethod.
(3)ConfirmationofnetrealizablevalueofinventoriesandmethodofaccrualoffallingpricereserveNetRealizableValuereferstotheamountofestimatedsellingpriceofinventoriesminustheestimatedcosttillcompletion,estimatedexpensesforsellingactivityandrelatedtaxesandfeesindailyactivities.Whendeterminingthenetrealizablevalueofinventories,solidevidenceobtainedshallbethebasis,andthepurposeofholdingtheinventoriesandtheimpactofeventsafterthebalancesheetdateshallbeconsidered.Onthebalancesheetdate,inventoriesshallbemeasuredatlowerofcostandnetrealizablevalue.Whenthenetrealizablevalueislowerthanthecost,theprovisionforinventorydevaluationshallbeaccrued.Theprovisionforinventorydevaluationshallbeaccruedbasedonthedifferencebetweenthecostofasingleinventoryitemanditsnetrealizablevalue.Theprovisionforinventorydevaluationofalargenumberofinventorieswithlowunitpricesshallbebasedonthetypeofinventory;forinventoriesrelatedtotheproductrangeproducedandsoldinsameregion,havingthesameorsimilarenduseorpurpose,anddifficulttobeseparatedfromotheritemsformeasurement,theirprovisionforinventorydevaluationcanbecombinedandaccrued.
Aftertheprovisionforinventorydevaluationisaccrued,ifthefactorscausethepreviouswritten-downinventoryvaluehavedisappeared,andthesituationresultsinthefactthatthenetrealizablevalueoftheinventorieshigherthanthebookvalue,theamountoftheprovisionforinventorydevaluationthathasbeenaccruedshallbereversedandincludedinthecurrentperiodprofitorloss.
(4)TheCompanyadoptsperpetualinventorysystemasitsinventorysystem.
(5)Amortizationmethodoflow-valueconsumablesandpackagingmaterials
Low-valueconsumablesareamortizedbyone-offamortizationmethodwhentheyarereceived;packagingmaterialsareamortizedbyone-offamortizationmethodwhentheyarereceived.
14.Held-for-saleassetsanddisposalgroup
(1)RecognitionstandardsandaccountingmethodtreatmentforHeld-for-saleassetsanddisposalgroup
Anon-currentassetordisposalgroupisclassifiedasheldforsalewhenitscarryingamountwillberecoveredprincipallythroughasaletransactionratherthanthroughcontinuoususe.Thefollowingconditionsneedtobesimultaneouslymettobeclassifiedasheldforsale:anon-currentassetorto-be-disposedportfoliocanbesoldimmediatelyunderthecurrentconditionsbasedonthepracticeofsellingsuchassetorto-be-disposedportfolioinsimilartransactions;theCompanyhasalreadydecidedonthesaleplanandobtainedconfirmedpurchasecommitment;thesaleisscheduledtobecompletedwithinoneyear.Amongthem,aDisposalPortfolioreferstoagroupofassetsthatwillbedisposedofasawholethroughsaleorotherapproachesinatransaction,andtheliabilitiesdirectlyassociatedwiththeseassets
NotestotheFinancialStatementstransferredalongwiththeassetsintransaction.IftheportfolioofassetsorgroupofportfoliosofassetsisallocatedgoodwillacquiredinbusinessmergerinaccordancewithAccountingStandardsforBusinessEnterprisesNo.8-AssetImpairment,theDisposalPortfolioshallincludethegoodwillallocatedtoit.
Intheeventthatthebookvalueofanon-currentassetorto-be-disposedportfoliothathasbeendesignatedasheld-for-salecategoryishigherthanthenetamountoffairvaluelesssalesexpenseswhenthenon-currentassetorto-be-disposedportfolioisinitiallymeasuredormeasuredonthebalancesheetdate,thebookvalueshallbetothenetamountoffairvalueminussalesexpenses,andthewritten-downamountshallberecognizedasassetimpairmentlossandincludedincurrentperiodprofitorloss.Theprovisionforimpairmentlossoftheheld-for-saleassetshallbeaccrued.ForaDisposalPortfolio,theconfirmedimpairmentlossshalldeductthebookvalueofthegoodwillintheDisposalPortfolio,thendeductthebookvalueofthenon-currentassetsdeterminedbythemeasurementonapro-ratabasisinaccordancewiththeapplicableAccountingStandardsforBusinessEnterprisesNo.42held-for-salenon-currentassets,DisposalPortfolioandTerminationofOperations(hereinafterreferredtoasthe“GuideforHeld-For-Sale”).Intheeventofanincreaseofthebookvalueoftheheld-for-saleDisposalPortfoliominussalesexpensesonthesubsequentthebalancesheetdate,theamountpreviouslywrittendownshallberecoveredandbereversedwithinthemountoftheassetimpairmentlossrecognizedinthenon-currentassetsmeasuredbythemeasurement“GuideforHeld-For-Sale”afterbeingclassifiedasheldforsaleasset,thereversalamountshallbeincludedinthecurrentperiodprofitorloss,andthebookvalueofallnon-currentassets(exceptforgoodwill)determinedbythemeasurementonapro-ratabasisinaccordancewiththeapplicable“GuideforHeld-For-Sale”shallbeincreasedonapro-ratabasis.Thebookvalueofthegoodwillthathasbeendeductedandtheimpairmentlossoftheassetsrecognizedbeforetheclassificationoftheheld-for-salenon-currentassetsinaccordancewiththeapplicable“GuideforHeld-For-Sale”shallnotbereversed.Intermsoftheheld-for-salenon-currentassetsornon-currentassetsinDisposalPortfolio,thereisnoaccrualoramortizationfordepreciation,andtheinterestfromandotherexpensesfromtheliabilitiesinheld-for-saleDisposalPortfolioshallstillberecognized.Whenanon-currentassetorDisposalPortfolionolongermeetstheconditionsforHeld-For-Salecategory,non-currentassetorDisposalPortfoliowillnolongerbeclassifiedasHeld-For-SalecategorybytheCompanyorthenon-currentassetwillberemovedfromtheHeld-For-SaleDisposalPortfolio,andbemeasuredbasedononeofthefollowingtwovalues,whicheverislower:(1)Thebookvaluebeforebeingclassifiedasheld-for-salecategoryadjustedbasedonthedepreciation,amortizationorimpairmentthatshouldhavebeconfirmedifitisnotclassifiedasheld-for-salecategory;(2)recoverableamount.
(2)StandardsforDeterminingandMethodsforthePresentationofDiscontinuedOperations.
NotestotheFinancialStatementsAcomponentofanentitythateitherhasbeendisposedoforisclassifiedasheldforsaleand:
a)representsaseparatemajorlineofbusinessorgeographicalareaofoperations,b)ispartofasingleco-ordinatedplantodisposeofaseparatemajorlineofbusinessorgeographicalareaofoperationsor
c)isasubsidiaryacquiredexclusivelywithaviewtoresale.NetprofitfromcontinuingoperationandNetprofitfromdiscontinuedOperationareaddedundertheItemNetProfitoftheProfitandLossStatement,asingleamountinthestatementofcomprehensiveincomecomprisingthetotalof:i)thepost-taxprofitorlossofcontinuingoperationanddiscontinuedoperations.ProfitandLossfromthediscontinuedoperationshalllistedasDiscontinuedOperationProfitandLoss,whichcomprisesoftheentirereportingperiod,notonlyrecognizedasthereportingperiodaftertheterminationoftheoperation.
15.Long-termequityinvestmentThelong-termequityinvestmentreferstointhispartreferstothelong-termequityinvestmentthattheCompanyhascontrol,jointcontrolorsignificantinfluenceontheinvestedentity.Thelong-termequityinvestmentoftheCompanythatdoesnothavecontrol,jointcontrolorsignificantimpactontheinvesteeshallbeaccountedasafinancialassetmeasuredatfairvaluewithitschangesincludedintothecurrentprofitsandlosses.Amongthem,ifitisnon-transactional,theCompanymaychoosetodesignateitasafinancialassetmeasuredatfairvalueanditschangesareincludedintheaccountingofothercomprehensiveincomeatthetimeofinitialrecognition.Fordetailsofitsaccountingpolicies,pleaserefertoNoteⅢ,11“FinancialInstruments".
JointcontrolreferstothecontrolthattheCompanyshareswithotherparty/partiesforanarrangementinaccordancewithrelevantagreements,andrelevantactivitiesofthearrangementcanonlybedecidedbasedontheconsensusofallpartiessharingthecontrolrightsbeforemakingadecision.SignificantInfluencereferstopoweroftheCompanytoparticipateinthedecision-makingofthefinancialandoperatingpoliciesoftheinvestee,buttheCompanycannotcontrolorjointlycontrolthedevelopmentofthesepolicieswithotherparties.
(1)Determinationofinvestmentcost
Foralong-termequityinvestmentobtainedfromacombinationofbusinessesunderthesamecontrol,theapportionedshareofthebookvalueinthefinalcontroller'sconsolidatedfinancialstatementsonthecombinationdateinaccordancewiththeshareholders'equityshallbetheinitialinvestmentcostofthelong-termequityinvestment.Thecapitalreserveshallbeadjustedsubjecttothedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthecashpaid,thenon-cashassetstransferred,andthebookvalueofthedebtsassumed;ifthecapitalreserveisinsufficientforoffsetting,theretained
NotestotheFinancialStatementsearningsshallbeadjusted.Wheretheequitysecuritiesareissuedasmergerconsideration,theapportionedshareofthebookvalueinthefinalcontroller'sconsolidatedfinancialstatementsonthecombinationdateinaccordancewiththeshareholders'equityshallbetheinitialinvestmentcostofthelong-termequityinvestment,andthetotalparvalueoftheissuedsharesistakenasthesharecapital.Thecapitalreserveshallbeadjustedsubjecttothedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthetotalparvalueofthesharesissued;ifthecapitalreserveisinsufficientforoffsetting,theretainedearningsshallbeadjusted.Wheretheequityofcombinedpartiesunderthesamecontrolisobtainedthroughmultipletransactionsandabusinesscombinationunderthesamecontrolisformedfinally,itshallbetreateddifferentiallybasedonwhetheritisa“packagedeal”:ifitbelongstoa“packagedeal”,alltransactionswillbetreatedasatransactionthatobtainscontrol.Ifitisnota“packagedeal”,theapportionedshareofthebookvalueinthefinalcontroller'sconsolidatedfinancialstatementsonthecombinationdateinaccordancewiththeshareholders'equityshallbetheinitialinvestmentcostofthelong-termequityinvestment.Thecapitalreserveshallbeadjustedsubjecttothedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthesumofthebookvalueoflong-termequityinvestmentbeforecombinationdateandthebookvalueofthenewconsiderationforthenewshareonthecombinationdate.Ifthecapitalreserveisinsufficientforoffsetting,theretainedearningsshallbeadjusted.Theequityinvestmentsthatareheldpriortothecombinationdateandarerecognizedwithequityrecognizedorasavailable-for-salefinancialassetasothercomprehensiveincomewillnotbegivenaccountingtreatmentforthemoment.
Foralong-termequityinvestmentobtainedfromacombinationofbusinessesnotunderthesamecontrol,theinitialinvestmentcostofthelong-termequityinvestmentshallbebasedonthecombinationcostonthepurchasedate.Thecombinationcostincludestheassetspaidbypurchaser,theliabilitiesincurredorassumed,andthesumofthefairvalueofissuedequitysecurities.Wheretheequityofcombinedpartiesnotunderthesamecontrolisobtainedthroughmultipletransactionsandabusinesscombinationunderthesamecontrolisformedfinally,itshallbetreateddifferentiallybasedonwhetheritisa“packagedeal”:ifitbelongstoa“packagedeal”,alltransactionswillbetreatedasatransactionthatobtainscontrol.Ifitisnota“packagedeal”,theinitialinvestmentcostofthelong-termequityinvestmentcalculatedbythecostmethodshallbecalculatedbasedonthesumofthebookvalueoftheequityinvestmentintheoriginalholderandthenewinvestmentcost.Theoriginalshareholdingthatmeasuredusingequitymethod,therelevantothercomprehensiveincomedoestemporarilynotconductaccountingtreatment.
Intermediaryexpensessuchasforauditing,legalservices,assessmentandotherrelatedexpensesincurredbyacombiningpartyorapurchaserforbusinesscombinationshallberecognizedincurrentperiodprofitorlosswhenincurred.
NotestotheFinancialStatementsTheequityinvestmentsotherthanformedbybusinesscombinationshallbeinitiallymeasuredatcost.Thecostwillbedeterminedbasedonthefollowingamountaccordingtodifferentmethodsoftheacquisitionoflong-termequityinvestment:thepurchasepriceincashactuallypaidbytheCompany;thefairvalueoftheequitysecuritiesissuedbytheCompany,thevalueagreedinrelevantinvestmentcontractoragreement;thefairvalueororiginalbookvalueoftheassetsexchangedinnon-monetaryassetexchangetransaction;thefairvalueofthelong-termequityinvestmentitself.Anyexpenses,taxesandothernecessaryexpensesdirectlyrelatedtotheacquisitionoflong-termequityinvestmentsshallalsobeincludedinthecostofinvestment.Thecostoflong-termequityinvestmentfortheadditionalinvestmentthatcanexertsignificantinfluenceoninvesteeorimplementjointcontrolbutdoesnotconstitutecontrolshallbethesumofthefairvalueoftheoriginallyheldequityinvestmentrecognizedinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo..22–RecognitionandMeasurementofFinancialInstrumentsandthecostfornewinvestment.
(2)Follow-upmeasurementandconfirmationmethodsforprofitandlossTheEquityMethodshallbeusedtoaccountforlong-termequityinvestmentsthathavejointcontrolovertheinvestedentity(exceptforthoseconstitutingjointoperators)orhavesignificantimpactontheinvestedentity.Inaddition,thecompany'sfinancialstatementsusetheCostMethodtoaccountforlong-termequityinvestments,whichcancontrolthelong-termequityinvestmentoftheinvestee.
①Long-termequityinvestmentbasedonCostMethodWhenaccountingwithCostMethod,long-termequityinvestmentispricedattheinitialinvestmentcost,andthecostofthelong-termequityinvestmentisadjustedbyaddingorrecoveringtheinvestment.Exceptfortheactualpaymentatthetimeofobtaininginvestmentorthecashdividendsorprofitsincludedintheconsiderationbutnotyetissued,thecurrentinvestmentincomeshallberecognizedaccordingtothecashdividendsorprofitsdeclaredbytheinvestee.
②Long-termequityinvestmentaccountedforbyEquityMethodWhenaccountingwithEquityMethod,iftheinitialinvestmentcostofalong-termequityinvestmentisgreaterthanthefairvalueshareoftheidentifiablenetassetsoftheinvesteewheninvesting,andtheinitialinvestmentcostofthelong-termequityinvestmentshallnotbeadjusted;iftheinitialinvestmentcostislessthanthefairvalueshareoftheidentifiablenetassetsoftheinvesteewheninvesting,thedifferenceshallbeincludedinthecurrentprofitandloss,andthecostofthelong-termequityinvestmentshallbeadjusted
WhenaccountingwithEquityMethod,theinvestmentincomeandothercomprehensiveincomearerecognizedseparatelyaccordingtothesharesofthenetprofitorlossandothercomprehensiveincomethatshouldbeenjoyedorshared,andthebookvalueofthelong-termequityinvestmentshouldbeadjustedat
NotestotheFinancialStatementsthesametime.Thebookvalueoflong-termequityinvestmentisreducedaccordinglybycalculatingthesharethatshouldbeenjoyedaccordingtotheprofitorcashdividenddeclaredbytheinvestee.Thebookvalueoflong-termequityinvestmentshallbeadjustedandincludedinthecapitalreserveforotherchangesintheowner'srightsandinterestsoftheinvestedentityotherthanthenetprofitandloss,othercomprehensiveincomeandprofitdistribution.Whenconfirmingtheshareofthenetprofitandlossoftheinvestee,thenetprofitoftheinvesteeshallbeadjustedandconfirmedonthebasisofthefairvalueoftheidentifiableassetsoftheinvesteeatthetimeofinvestment.IftheaccountingpoliciesandperiodsadoptedbytheinvestedentityareinconsistentwiththeCompany,thefinancialstatementsoftheinvestedentityshallbeadjustedinaccordancewiththeaccountingpoliciesandperiodsoftheCompany,andtheinvestmentincomeandothercomprehensiveincomeshallbeconfirmedaccordingly.ForthetransactionsbetweentheCompanyandtheassociatesandjointventures,theassetsinvestedorsolddonotconstituteabusiness,andtheunrealizedgainsandlossesfrominternaltransactionsareoffsetagainsttheportionoftheCompanythatisattributabletotheproportionoftheshares,onthisbasis.investmentprofitandlossshouldbeconfirmed.However,theunrealizedinternaltransactionlossesincurredbytheCompanyandtheinvesteearenotincludedintheimpairmentlossesofthetransferredassets.WheretheassetsinvestedbytheCompanyintoajointventureoranassociatesconstituteabusiness,iftheinvestorobtainslong-termequityinvestmentbutdoesnotcontrol,thefairvalueoftheinvestedbusinessshallbedeemedastheinitialinvestmentcostofthenewlong-termequityinvestment,andthedifferencebetweentheinitialinvestmentcostandthebookvalueoftheinvestedbusinessisfullyrecognizedinthecurrentprofitsandlosses.IftheassetssoldbytheCompanytoajointventureoranassociatethatconstituteabusiness,thedifferencebetweentheconsiderationvalueobtainedandthebookvalueofthebusinessshallbefullyrecognizedintheprofitsandlossesofthecurrentperiod.Whenconfirmingthenetlossthatincurredbytheinvesteeshouldbeshared,thebookvalueofthelong-termequityinvestmentandotherlong-termequitythatsubstantiallyconstitutesthenetinvestmentoftheinvesteearereducedtozero.Inaddition,iftheCompanyhasanobligationtobearadditionallossestotheinvestee,theestimatedliabilitiesshallberecognizedaccordingtotheestimatedobligationsandincludedinthecurrentinvestmentlosses.Iftheinvesteeachievesnetprofitinthefollowingperiod,theCompanyshallresumerecognizingtheshareofincomeaftermakingupfortheunrecognizedshareofloss.
Forthelong-termequityinvestmentinthejointventuresandassociatesheldbytheCompanyforthefirsttimebeforetheimplementationofthenewaccountingstandards,ifthereisadebitbalanceofequityinvestmentsrelatedtotheinvestment,thecurrentprofitsandlossesshallbeaccountedforbythestraight-lineamortizationoftheoriginalremainingperiod.
(3)AcquisitionofMinorityEquity
NotestotheFinancialStatementsInthepreparationoftheconsolidatedfinancialstatements,ifthedifferencebetweenthelong-termequityinvestmentaddedbypurchasingminoritysharesandthenetassetssharethatshouldbecontinuouslycalculatedbythesubsidiarycompanyfromthepurchasedate(ortheconsolidationdate)iscalculatedaccordingtotheproportionofnewlyaddedshares,theretainedearningsshallbeadjusted;andifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.
(4)Disposaloflong-termequityinvestmentIntheconsolidatedfinancialstatements,theparentcompanypartiallyofdisposesofthelong-termequityinvestmentofthesubsidiarywithoutlosingcontrol,thedifferenceofthecorrespondingnetassetsinthesubsidiarybetweenthedisposalpriceandthedisposalofthelong-termequityinvestmentisincludedintheshareholders'equity.itshallbetreatedinaccordancewiththerelevantaccountingpoliciesdescribedin“Notesonthepreparationofconsolidatedfinancialstatements”inNoteⅢ.7.Forthedisposaloflong-termequityinvestmentinothercases,thedifferencebetweenthebookvalueofthedisposedequityandtheactualacquisitionpriceshallbeincludedinthecurrentprofitsandlosses.Ifthelong-termequityinvestmentisaccountedforbyequitymethod,theremainingequityafterdisposalisstillaccountedforbyequitymethod,whendisposing,theothercomprehensiveincomewhichwereoriginallyincludedinshareholder'srightsandinterestsshallbeaccountedforonthesamebasisastheassetsorliabilitiesdirectlydisposedofbytheinvestee.Theowner'sequityrecognizedasaresultofchangesintheowner'sequityoftheinvesteeotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution,itshouldbecarriedforwardtothecurrentprofitandloss
Forthelong-termequityinvestmentaccountedbyCostMethod,theremainingequityisstillaccountedbyCostMethodafterdisposal,othercomprehensiveincomethatrecognizedbyequitymethodaccountingorfinancialinstrumentrecognitionandmeasurementcriteriaaccountingbeforeobtainingcontrolovertheinvesteeshallbeaccountedforonthesamebasisastheassetsorliabilitiesdirectlydisposedofbytheinvestee,andshallbesettledtothecurrentprofitandlossinproportion.Changesofthenetassetsofinvesteeintheowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution'sthatrecognizedbyequitymethodshallbesettledtothecurrentprofitandlossinproportion.
WheretheCompanylosescontrolovertheinvesteeduetodisposalofpartofitsequityinvestment,whenpreparingindividualfinancialstatements,iftheremainingequityafterdisposalcanexercisejointcontrolorexertsignificantinfluenceontheinvestee,itshallbeaccountedforbyequitymethodinstead,andtheremainingequityshallbeadjustedbyaccountingbyequitymethodwhenitisdeemedtobeacquired.Iftheremainingequityafterdisposalcannotbejointlycontrolledorexertssignificantinfluence
NotestotheFinancialStatementsontheinvestee,itshallbeaccountedforaccordingtotherelevantprovisionsofthefinancialinstrumentrecognitionandmeasurementcriteria,andthedifferencebetweenthefairvalueandthebookvalueonthedateoflossofcontrol.Itisincludedinthecurrentprofitandloss.BeforetheCompanyobtainscontrolovertheinvestee,othercomprehensiveincomerecognizedbyequitymethodaccountingorfinancialinstrumentrecognitionandmeasurementcriteriaisusedtodirectlydisposeoftherelevantassetswiththeinvestee,accountingtreatmentbasedonthesamebasisastheinvesteedirectlydisposesofrelatedassetsorliabilitieswhenthecontroloftheinvesteeislost,Accountingistreatedonthesamebasisastheliabilities.Changesintheowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistributionoftheinvestee'snetassetsrecognizedbytheequitymethodarecarriedforwardtothecurrentprofitorlosswhenthecontroloftheinvesteeislost.Amongthem,theremainingequityafterdisposalisaccountedforusingtheequitymethod.Wheretheremainingequityafterdisposalisaccountedforbyequitymethod,othercomprehensiveincomeandotherowner'sequityshouldbesettledbyproportion.Iftheremainingequityisaccountedforusingfinancialinstrumentrecognitionandmeasurementstandard,allofothercomprehensiveincomeandothershareholder’sequityshouldbesettled.IftheCompanylosesitsjointcontrolorsignificantinfluenceontheinvesteeduetothedisposalofpartoftheequityinvestment,theremainingequityafterdisposalshallbeaccountedforaccordingtothefinancialinstrumentrecognitionandmeasurementcriteria,andthedifferencebetweenthefairvalueandthebookvalueonthedateoflossofjointcontrolorsignificantinfluenceisrecognizedinthecurrentprofitorloss.Theothercomprehensiveincomerecognizedintheoriginalequityinvestmentbytheequitymethodisaccountedforonthesamebasisastheinvestee'sdirectdisposalofrelatedassetsorliabilitieswhentheequitymethodisterminated,Owner'sequityrecognizedasaresultofchangesinotherowners'equityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistributionoftheinvesteeshouldbetransferredtocurrentinvestmentincomewhenterminatingtheequitymethod
TheCompanydisposesoftheequityinvestmentinthesubsidiariesstepbystepthroughmultipletransactionsuntilthelossofcontrol.Iftheabove-mentionedtransactionsarepartofapackagetransaction,thetransactionsaretreatedasatransactiondealingwiththeequityinvestmentofthesubsidiaryandlosingcontrol.Thedifferencebetweenthebookvalueofeachlong-termequityinvestmentcorrespondingtothedisposalpriceandthedisposaloftheequitybeforelossofcontrolisfirstrecognizedasothercomprehensiveincome,andwhenthecontrolislost,itistransferredtothecurrentprofitandlossoflossofcontrol.
16.InvestmentProperty
InvestmentPropertyreferstopropertyheldforthepurposeofearningrentorcapitalappreciation,orboth,includinglanduserightsthathavebeenleased,landuserightsthatareheldandpreparedfortransfer
NotestotheFinancialStatementsafterappreciation,andbuildingsthathavebeenrented.Investmentpropertyisinitiallymeasuredatcost.Theexpensesrelatedtoinvestmentproperty,iftheeconomicbenefitsrelatedtothisassetarehighlyprobabletoflowintothecompanyandthecostcanbemeasuredreliably,thentheexpensewillaccountforasthecostofinvestmentproperty.Otherexpensesareaccountedforinprofitandlosswhenincurred.TheCompanyadoptsthecostmodeltoconductsubsequentmeasurementofinvestmentpropertyanddepreciationoramortizationaccordingtothepolicyconsistentwiththebuildingorlanduserights.Fordetailsoftheimpairmenttestmethodandimpairmentprovisionmethodofproperty,pleaserefertoNoteⅢ.23“Long-TermAssetImpairment”.Whentheself-usepropertyorinventoryisconvertedintoinvestmentpropertyorinvestmentpropertyisconvertedintoself-useproperty,thebookvaluebeforeconversionisusedastherecordedvalueafterconversion.
Whentheuseofinvestmentpropertyischangedtoself-use,theinvestmentpropertyisconvertedintofixedassetsorintangibleassetsfromthedateofchange.Whentheuseofself-usepropertychangestoearnrentorcapitalappreciation,thefixedassetsorintangibleassetsareconvertedintoinvestmentpropertyfromthedateofchange.Inthecaseofinvestmentpropertymeasuredbythecostmodelwhentheconversionoccurs,thebookvaluebeforeconversionisusedastheentryvalueafterconversion;ifitisconvertedintoinvestmentpropertymeasuredbythefairvaluemodel,thefairvalueoftheconversiondateisusedastheentryvalueafterconversion.
Whenaninvestmentrealestateisdisposedof,orpermanentlywithdrawnfromuseandisnotexpectedtoobtaineconomicbenefitsfromitsdisposal,theconfirmationoftheinvestmentrealestateshallbeterminated.Disposalincomefromthesale,transfer,retirementordamageofinvestmentpropertiesischargedtothecurrentprofitandlossafterdeductingitsbookvalueandrelatedtaxesandfees.
17.FixedAssets
(1)Confirmationconditionsforfixedassets
FixedAssetsrefertotangibleassetsheldforthepurposeofproducinggoods,providinglaborservices,rentingoroperatingmanagement,andhavingaservicelifeofmorethanonefiscalyear.FixedassetsarerecognizedonlywhentheeconomicbenefitsassociatedwiththemarelikelytoflowintotheCompanyandtheircostscanbereliablymeasured.Fixedassetsareinitiallymeasuredatcostandtakingintoaccounttheimpactofprojectedabandonmentcosts.
(2)Depreciationmethodsforvarioustypesoffixedassets
Fixedassetsaredepreciatedovertheirusefullivesusingthestraight-linemethodfromthemonthfollowingthescheduledavailability.Thedepreciationperiod,estimatednetresidualvaluerateandannualdepreciationrateofeachcategoryoffixedassetsareasfollows:
| Category | DepreciationMethod | Depreciationperiod(Year) | Netsalvagerate(%) | Annualdepreciationrate(%) |
| Buildings | straight-linedepreciation | 8-50 | 5 | 1.90—11.88 |
| Machineryequipment | straight-linedepreciation | 5-28 | 4、5 | 3.39—19.20 |
| Transportfacility | straight-linedepreciation | 5-10 | 4、5 | 9.50—19.20 |
| Electronicequipment | straight-linedepreciation | 3-10 | 4、5 | 9.50—32.00 |
| Officeequipment | straight-linedepreciation | 3-10 | 4、5 | 9.50—32.00 |
| Otherequipment | straight-linedepreciation | 5-28 | 4、5 | 3.39—19.20 |
Theestimatednetresidualvaluereferstotheexpectedstateaftertheestimatedusefullifeofthefixedassetshasexpiredandisattheendofitsusefullife.TheamountcurrentlyobtainedbytheCompanyfromthedisposaloftheassetsafterdeductingtheestimateddisposalexpenses.
(3)ImpairmenttestmethodandImpairmentprovisionmethodforfixedassets
FordetailsofImpairmenttestmethodandimpairmentprovisionmethodforfixedassets,pleaserefertoNoteⅢ.23“Long-TermAssetImpairment”.
(4)Recognitionbasisandvaluationmethodoffixedassetsacquiredbyfinancelease
Afinanceleaseisaleasethattransferssubstantiallyalltherisksandrewardsassociatedwithownershipofanasset,anditsownershipmayormaynotbetransferred.Ifitisreasonabletodeterminetheownershipoftheleasedassetattheexpirationoftheleaseterm,thedepreciationshallbecalculatedwithintheusefullifeoftheleasedasset;Ifitisnotreasonabletodeterminetheownershipoftheleasedassetattheexpirationoftheleaseterm,depreciationshallbecalculatedwithinarelativelyshortperiodoftheleasetermandtheservicelifeoftheleasedassets.
(5)Others
Thesubsequentexpensesrelatedtofixedassets,iftheeconomicbenefitsrelatedtothefixedassetsarelikelytoflowinandtheircostscanbereliablymeasured,areincludedinthecostoffixedassetsandthebookvalueofthereplacedpartshouldbeterminated.Thesubsequentexpendituresotherthanmentionedasabovearerecognizedinprofitorlossintheperiodinwhichtheyareincurred.
NotestotheFinancialStatementsThefixedassetisderecognizedwhenthefixedassetisindisposalorisnotexpectedtogenerateeconomicbenefitsbyusingordisposal.Thedifferencebetweenthedisposalincomefromthesale,transfer,retirementordamageofthefixedassetslessthecarryingamountandrelatedtaxesisrecognizedinprofitorlossforthecurrentperiod.TheCompanyreviewstheusefullife,estimatednetresidualvalueanddepreciationmethodoffixedassetsatleastattheendoftheyear,andchangesasanaccountingestimateifchangesoccur.
18.ConstructioninprogressThecostofconstructioninprogressisdeterminedbasedonactualprojectexpenditure,includingvariousprojectexpendituresincurredduringtheconstructionperiod,capitalizedborrowingcostsbeforetheprojectreachestheexpectedusablestatus,andotherrelatedexpenses.Constructioninprogressiscarriedforwardtofixedassetswhenitisreadyforitsintendeduse.Fordetailsoftheimpairmenttestmethodandimpairmentprovisionmethodforconstructioninprogress,pleaserefertoNoteⅢ.23“Long-TermAssetImpairment”.
19.BorrowingCosts
Borrowingcostsincludeinterestonborrowings,amortizationofdiscountsorpremiums,ancillaryexpenses,andexchangedifferencesarisingfromforeigncurrencyborrowings.Borrowingcostsdirectlyattributabletotheacquisition,constructionorproductionofassetseligibleforcapitalization,capitalizationisbeganwhenassetexpenditureshaveoccurred,borrowingcostshaveoccurred,andtheacquisition,constructionorproductionactivitiesnecessarytobringtheassetstotheintendedusableorsaleablestatehavebegun.Andcapitalizationisstoppedwhentheassetsunderconstructionorproductionthatmeetthecapitalizationconditionsarereadyfortheirintendeduseorsaleablestatus.Theremainingborrowingcostsarerecognizedasanexpenseintheperiodinwhichtheyareincurred.
Theinterestexpensesactuallyincurredinthecurrentperiodofspecialborrowingsshallbecapitalizedaftersubtractingtheinterestincomefromtheunusedborrowingfundsdepositedintothebankortheinvestmentincomeobtainedfromthetemporaryinvestment.Forthegeneralborrowings,accordingtotheaccumulatedassetexpendituresexceedthespecialborrowings.Thecapitalizationamountisdeterminedbymultiplyingtheweightedaverageofwhichaccumulatedassetexpenditureexceedstheassetexpenditureofthespecialborrowingportionbythecapitalizationrateofthegeneralborrowingsused.Thecapitalizationrateisdeterminedbasedontheweightedaverageinterestrateofgeneralborrowings.
Duringthecapitalizationperiod,theexchangedifferencesofforeigncurrencyspecialborrowingsareallcapitalized;theexchangedifferencesofforeigncurrencygeneralborrowingsareincludedinthecurrentprofitandloss.
NotestotheFinancialStatementsAssetseligibleforcapitalizationrefertoassetssuchasfixedassets,investmentpropertyandinventoriesthatrequireasubstantialperiodofacquisition,constructionorproductionactivitiestoachievetheintendeduseorsalestatus.
Iftheassetseligibleforcapitalizationareinterruptedabnormallyduringtheacquisition,constructionorproductionprocessandtheinterruptionperiodlastsformorethan3months,thecapitalizationoftheborrowingcostsshallbesuspendeduntiltheacquisition,constructionorproductionoftheassetsresumes.
20.Right-of-useassets
Right-of-useassetsoftheGroupmainlyconsistofbuildings,powergenerationandtransmissionequipment,plant,machineryandequipment,motorvehicles,furnitureandfixturesandothers.
(1)Initialaccountings
Atthecommencementdateofthelease,theGrouprecognizestherighttousetheleasedassetsduringtheleasetermasaright-of-useasset,including:theinitialmeasurementamountoftheleaseliability;theamountofleasepaymentpaidonorbeforethebeginningoftheleaseterm,theamountofleaseincentivealreadyenjoyedshallbedeductedifthereisaleaseincentive;initialdirectexpensesincurredbythelessee;thecoststhatthelesseeisexpectedtoincurinordertodismantleandremovetheleasedasset,restoretheleasedassettothesiteorrestoretheleasedassettothestateagreeduponintheleaseterms.Theright-of-useassetsaredepreciatedonastraight-linebasissubsequentlybytheGroup.IftheGroupisreasonablycertainthattheownershipoftheunderlyingassetwillbetransferredtotheGroupattheendoftheleaseterm,theGroupdepreciatestheassetfromthecommencementdatetotheendoftheusefullifeoftheasset.Otherwise,theGroupdepreciatestheassetsfromthecommencementdatetotheearlieroftheendoftheusefullifeoftheassetortheendoftheleaseterm.
ThecompanyrecognizesandmeasurestheabovecostsunderItem4inaccordancewiththeAccountingStandardsforEnterprisesNo.13–Contingencies.
(2)Subsequentaccounting
TheCompanyaccursedtheright-of-useassetsaccordingtotheAccountingStandardsforEnterprisesNO.4-FixedAssets.Commencementfromthedateoflease,theCompanyshallaccruetheright-of-useassets.Generallytheright-of-useassetsareaccruedatthestartoftheleasedate,theexpensesofdepreciationaccruedshallincludeintorelevantassetcostorprofitandlossinthecurrentperiodbasedonthepurposeofright-of-useassets.Whilerecognizingthemethodofright-of-useassets,theCompanyshallmakedecisionsontheeconomicbenefitofforecastconsumptionmoderelatedtotheright-of-useassets,accruesthedeprecationbystraight-linemethod.WhentheCompanyrecognizethedepreciationperiodofright-of-useassets,maturityofleaseperiodcanbedeterminedinareasonableandwell-groundedmanner
NotestotheFinancialStatementsontheacquisitionoftheright-of-useassets,accursedthedeprecationinitsremainingservicelife.Iftheright-of-useleaseassetscouldnotbedeterminedreasonablywhiletheservicelifeismature,depreciationisappliedwiththeshortperiodoftimebetweentheleasetermandtheremainingusefullifeoftheleaseasset.Ifthereisimpairedright-of-useassets,theCompanyshallaccruethesubsequentdeprecationbasedonthebookvalueofright-of-useassetsafterdeductingthelossofimpairment.TheCompanydeterminednottorecognizedtheright-of-useassetsandleaseliabilitiesontheshort-termlease(leasetermnotexceeding12months),andrecognizestherelevantleasepaymentduringtherespectiveleaseterminthecurrentprofitandlossorcostofassetsrelevantinstraightlinemethod.Impairmenttestmethodandtheprovisionmethodfordiminutioninvalueofright-of-useassetsaredetailedinNoteIII23“Long-TermAssetImpairment”
21.Intangibleassets
Intangibleassetsrefertoidentifiablenon-monetaryassetswithoutphysicalformownedorcontrolledbytheCompany.
Intangibleassetsareinitiallymeasuredatcost.ExpenditurerelatedtointangibleassetsisincludedinthecostofintangibleassetsiftherelevanteconomicbenefitsarelikelytoflowtotheCompanyanditscostscanbemeasuredreliably.However,theintangibleassetsacquiredthroughbusinesscombinationnotinvolvingenterprisesundercommoncontrolshouldbemeasuredatfairvalueseparatelyasintangibleassetswhentheirfairvaluescanbereliablymeasured.
Theacquiredlanduserightsareusuallyaccountedforasintangibleassets.Therelatedlanduserightsandbuildingconstructioncostsofself-developedandconstructedbuildingsareaccountedforasintangibleassetsandfixedassets,respectively.Inthecaseofpurchasedhousesandbuildings,therelevantpriceisdistributedbetweenthelanduserightsandthebuildings.Ifitisdifficulttoallocatethemreasonably,allofthemaretreatedasfixedassets.
(1)Basisfordeterminingtheservicelife,theestimatethereof,andamortizationmethodsandtheproceduresforreviewingtheirservicelife
Whenrecognizingtheservicelifeoftheintangibleassets,beingsourcedfromanycontractualrightorotherstatutoryrights,itsservicelifeshallnotexceedthelifeofcontractualrightsorotherstatutoryrights.Asfortheintangibleassetsnotspecifiedeitherunderthecontractorlegalregulations,thecompanycombinedvarioussituations,suchasemployingrelevantprofessionalpersonstoundergothejustificationormakecomparisonwiththesituationofthesameindustryandthehistoricalexperienceoftheCompany,determiningthefutureeconomicbenefitservicelifewhichisbroughtbytheintangibleassets.Iftheefforts
NotestotheFinancialStatementsaremade,butcouldnotrecognizedreasonablythattheintangibleassetshallbringtheeconomicbenefitservicelifefortheCompany,thenshalltreatthisasuncertainservicelifeoftheintangibleasset.
Sincetheintangibleassetswithlimitedusefullifeareavailableforuse,theoriginalvalueminustheestimatednetresidualvalueandtheaccumulatedamountofimpairmentreserveshallbeamortizedbythestraight-linemethodduringtheirexpectedservicelife.Intangibleassetswithuncertainservicelifeshallnotbeamortized.
Amongthem,theusefullifeandamortizationmethodofintellectualpropertyareasfollows:
| Item | Amortizationperiod(year) | Amortizationmethod |
| Trademark | 20 | Straight-linemethod |
| Software | 3-10 | Straight-linemethod |
| Land-userights | 50 | Straight-linemethod |
Attheendoftheperiod,theusefullifeandamortizationmethodsofintangibleassetswithlimitedusefullifearereviewed,andifanychangeoccurs,itistreatedasachangeofaccountingestimate.Inaddition,theusefullifeofintangibleassetswithuncertainservicelifeisalsoreviewed.Ifthereisevidencethattheperiodforwhichtheintangibleassetsbringeconomicbenefitstotheenterpriseisforeseeable,theusefullifeofintangibleassetsisestimatedandamortizedaccordingtotheamortizationpolicyofintangibleassetswithlimitedusefullife
(2)Researchanddevelopmentexpenditure
Thecompany'sexpenditureforinternalresearchanddevelopmentprojectisdividedintoresearchphaseexpenditureanddevelopmentphaseexpenditure.
Expendituresfortheresearchphaseshallberecognizedinprofitorlosswhenincurred.
Expendituresforthedevelopmentphasethatmeetthefollowingconditionsshallberecognizedasintangibleassets,andexpendituresinthedevelopmentstagethatfailtomeetthefollowingconditionsareincludedincurrentprofitandloss:
a.Itistechnicallyfeasibletocompletetheintangibleassettoenableittobeusedorsold.
b.Theintenttocompletetheintangibleassetanduseorsellit;
c.Thewayinwhichintangibleassetsgenerateeconomicbenefits,includingtheabilitytoprovethattheproductsproducedfromtheintangibleassetshavingamarketortheintangibleassetshavingamarket,andtheintangibleassetswillbeusedinternally,whichcanproveitsusefulness;
d.sufficienttechnical,financialresourcesandotherresourcesforsupportingthedevelopmentoftheintangibleassetsandtheabilitytouseorselltheintangibleassets.
e.Expenditureattributabletothedevelopmentphaseoftheintangibleassetcanbereliablymeasured.
NotestotheFinancialStatementsIfitisimpossibletodistinguishtheexpendituresbetweenresearchphaseanddevelopmentphase,allresearchanddevelopmentexpendituresincurredwillbeincludedinthecurrentprofitandloss.
(3)ImpairmenttestmethodandImpairmentprovisionmethodforintangibleassetsFordetailsoftheimpairmenttestmethodandimpairmentprovisionmethod,pleaserefertoNoteⅢ.23“Long-TermAssetImpairment”.
22.Long-termDeferredExpensesThelong-termdeferredexpensesareallexpensesthathaveoccurredbutshallbebornebythereportingperiodandsubsequentperiodswithamortizationperiodofmorethanoneyear.Thecompany'slong-termdeferredexpensesmainlyincludeleaseoflanduserightandrenovationcostsoffactorybuilding.Long-termdeferredexpensesareamortizedonastraight-linebasisovertheestimatedbenefitperiod.
23.Long-termassetsimpairmentForfixedassets,constructioninprogress,intangibleassetswithlimitedusefullife,investmentpropertymeasuredbycostmodel,andnon-currentnon-financialassetssuchaslong-termequityinvestmentsinsubsidiaries,jointventuresandassociates,theCompanydetermineswhetherthereisanyindicationofimpairmentonthebalancesheetdate.Ifthereisanyindicationofimpairment,therecoverableamountisestimatedandtheimpairmenttestiscarriedout.Goodwill,intangibleassetswithuncertainservicelifeandintangibleassetsthatnotyetreadyforusearetestedforimpairmentannually,regardlessofwhetherthereisanyindicationofimpairment.
Iftheresultoftheimpairmenttestindicatesthattherecoverableamountoftheassetislowerthanitsbookvalue,theimpairmentprovisionismadebasedonthedifferenceandisincludedintheimpairmentloss.Therecoverableamountisthehigherofthefairvalueoftheassetlessthedisposalexpenseandthepresentvalueoftheestimatedfuturecashflowoftheasset.Thefairvalueofassetsisdeterminedaccordingtothesaleagreementpriceinafairtransaction.Ifthereisnosalesagreementbutthereisanactivemarketfortheasset,thefairvalueisdeterminedaccordingtothebuyer'sbidfortheasset;ifthereisneithersalesagreementnoractivemarketforassets,thefairvalueofassetsshallbeestimatedbasedonthebestinformationavailable.Assetdisposalexpensesincludelegalfee,taxes,transportationexpensesanddirectexpensesincurredtomakeassetssaleable.Thepresentvalueoftheestimatedfuturecashflowofanassetisdeterminedbytheappropriatediscountratediscountingandtheestimatedfuturecashflowgeneratedbytheassetduringitscontinuoususeandfinaldisposal.Theassetimpairmentprovisioniscalculatedandconfirmedbasedonindividualassets.Ifitisdifficulttoestimatetherecoverableamountofanindividualasset,therecoverableamountoftheassetisdeterminedbytheassetgroupwhichtheassetbelongsto.Anassetgroupisthesmallestportfolioofassetsthatcangeneratecashinflowsindependently.
NotestotheFinancialStatementsThebookvalueofthegoodwilllistedseparatelyinthefinancialstatementsisamortizedintoassetgroupsorportfoliosthatareexpectedtobenefitfromthesynergiesofbusinesscombinationswhenimpairmenttestsareconducted.Thetestresultsshowthattherecoverableamountoftheassetgrouporportfoliocontainingtheassessedgoodwillislowerthanitsbookvalue,thecorrespondingimpairmentlossesshouldbeconfirmed.Theamountofimpairmentlossisfirstdeductedfromthebookvalueofthegoodwillamortizedtotheassetgrouporportfolio,andthendeductedproportionallyfromthebookvalueofotherassetsaccordingtotheproportionofthebookvalueofassetsotherthangoodwillintheassetgrouporportfolio.
Oncetheaboveassetimpairmentlossisconfirmed,itwillnotbereversedtothepartwherethevalueisrestoredinthefutureperiod.
24.EmployeeCompensation
TheCompany'semployeecompensationmainlyincludesshort-termemployeeremuneration,Post-employmentBenefits,TerminationBenefitsandbenefitsforotherlong-termemployee.Amongthem:
Short-termemployeesremunerationmainlyincludeswages,bonuses,allowancesandsubsidies,employeewelfarefees,medicalinsurancepremiums,maternityinsurancepremiums,workinjuryinsurancepremiums,housingfund,laborunionfunds,employeeeducationfunds,andnon-monetarybenefits.TheCompanyrecognizestheactualshort-termemployee'sremunerationasaliabilityintheaccountingperiodinwhichemployeesprovideservicestotheCompanyandrecognizestheminprofitorlossorrelatedassetcosts.Non-monetarybenefitsaremeasuredatfairvalue.
Post-employmentBenefitsmainlyincludebasicretirementsecurity,unemploymentinsurance,andannuities.ThePost-employmentBenefitSchemeincludesaDefinedContributionPlanandaDefinedBenefitPlan.IfaDefinedContributionPlanisadopted,thecorrespondingamountofthedepositshallbeincludedintherelevantassetcostorcurrentprofitandlossasincurred.(1)TheDefinedContributionPlanisrecognizedasaliabilitybasedonafixedfeepaidtoanindependentfundandisincludedinthecurrentprofitandlossorrelatedassetcosts;(2)TheDefinedBenefitPlanisaccountedforusingtheexpectedcumulativebenefitsunitmethodSpecifically,theCompanywillconvertthewelfareobligationarisingfromtheDefinedBenefitPlanintothefinalvalueofthedeparturetimeaccordingtotheformuladeterminedbytheexpectedcumulativebenefitsunitmethod;thenitisattributedtotheemployee'sin-serviceperiodandisincludedinthecurrentprofitandlossorrelatedassetcost.
Ifthelaborrelationshipwiththeemployeeisterminatedbeforetheemployee'slaborcontractexpires,oriftheemployeeisencouragedtoacceptthereductionvoluntarily,whencannotwithdrawingunilaterallythedismissalbenefitsprovidedbytheterminationofthelaborrelationshipplanorthereductionproposal,andwhenconfirmingthecostsassociatedwiththerestructuringinvolvingthepaymentofthedismissal
NotestotheFinancialStatementsbenefits,whicheverisearlier,theCompanywillrecognizetheemployeecompensationliabilitiesarisingfromthedismissalbenefits,andincludedinthecurrentprofitandloss.However,ifthedismissalbenefitsarenotexpectedtobefullypaidwithin12monthsaftertheendofannualreportingperiod,theyshallbetreatedinaccordancewithotherlong-termemployeecompensations.Theinternalretirementplanforemployeesshallbetreatedinthesamewayastheabove-mentioneddismissalbenefits.Thecompanywillpaytheinternalretiredstaffthesalaryandthesocialinsurancepremiumsfromtheemployee'slay-offtonormalretirement,andwillincludeinthecurrentprofitandloss(dismissalbenefits)whentheconditionsoftheestimatedliabilitiesaremet.Iftheotherlong-termemployeebenefitsprovidedbytheCompanytotheemployeesareinlinewiththeDefinedContributionPlan,theyshallbeaccountedforDefinedContributionPlan,andotherwiseaccountedfortheDefinedBenefitPlan.
25.Estimatedliabilities
Whentheobligationsrelatedtothecontingenciesmeetthefollowingconditions,theyarerecognizedascontingentliabilities:(1)TheobligationisthepresentobligationassumedbytheCompany;(2)Theperformanceofthisobligationislikelytoresultintheoutflowofeconomicbenefits;(3)Theamountoftheobligationcanbereliablymeasured.
Onthebalancesheetdate,takingintoaccountfactorssuchasrisks,uncertaintiesandtimevalueofmoneyrelatedtocontingencies,theestimatedliabilitiesaremeasuredinaccordancewiththebestestimateoftheexpenditurerequiredtoperformtherelevantcurrentobligations.
Ifallorpartoftheexpensesrequiredtodischargetheestimatedliabilitiesareexpectedtobecompensatedbythethirdparty,thecompensationamountwillbeseparatelyrecognizedasanassetwhenitisbasicallydeterminedtobereceived,andtheconfirmedcompensationamountdoesnotexceedthebookvalueoftheestimatedliabilities.
(1)LossContract
Alosscontractisacontractinwhichthecostoffulfillingacontractualobligationwillinevitablyoccurmorethantheexpectedeconomicbenefit.Ifthecontracttobeexecutedbecomesalosscontract,andtheobligationarisingfromthelosscontractsatisfiestheconditionsfortherecognitionoftheabove-mentionedestimatedliabilities,theportionofthecontract'sestimatedlossthatexceedstherecognizedimpairmentloss(ifany)ofthecontractedassetisrecognizedastheestimatedliability.
(2)RestructuringObligations
Forrestructuringplansthataredetailed,formal,andhavebeenannouncedtothepublic,theamountoftheestimatedliabilitiesaredeterminedbasedonthedirectexpensesrelatedtothereorganization,
NotestotheFinancialStatementssubjecttotherecognitionconditionsoftheaforementionedestimatedliabilities.Fortherestructuringobligationtothepartofbusinesssold,theobligationrelatedtothereorganizationisconfirmedonlywhenthecompanypromisestosellpartofthebusiness(thatis,whenthebindingsaleagreementissigned).
26.Share-basedPayments。
(1)AccountingTreatmentofShare-basedPaymentsAshare-basedpaymentisatransactionthatgrantsanequityinstrumentorassumesaliabilitydeterminedbasedonanequityinstrumentinordertoobtainservicesfromemployeesorotherparties.Share-basedPaymentsincludeequity-settledsharepaymentandcash-settledsharepayment.
①Equity-settledSharePaymentTheequity-settledsharepaymentinexchangefortheservicesfromemployeeismeasuredatthefairvalueofthegrantingofemployees'equityinstrumentsatthegrantdate.Ifthefairvalueisvestedinthecompletionofthewaitingperiodofserviceorthefulfillmentoftherequiredperformanceconditions,duringthewaitingperiod,theamountofthefairvalueiscalculatedbythestraight-linemethodintotherelevantcostsorexpensesbasedonthebestestimateofthenumberofvestingequityinstruments;OrIfthevestingrightisgrantedimmediatelyafterthegrant,thecalculationoftheamountofthefairvalueisincludedintherelevantcostorexpenseonthegrantdate,andthecapitalreserveisincreasedaccordingly.Oneachbalancesheetdateduringthewaitingperiod,theCompanymakesthebestestimatebasedonthelatestinformationonthechangesinthenumberofemployeeswithvestingrightsandcorrectsthenumberofequityinstrumentsthatareexpectedtobevested.Theimpactoftheaboveestimatesshallbeincludedinthecurrentrelatedcostsorexpenses,andthecapitalreserveisadjustedaccordingly.Inthecaseofequity-settledshare-basedpaymentsinexchangeforotherparties'services,ifthefairvalueofotherparties'servicescanbereliablymeasured,thefairvalueofotherservicesshallbemeasuredatthefairvalueonthedateofacquisition;Ifthefairvalueoftheotherparty'sservicescannotbemeasuredreliably,thefairvalueshallbemeasuredatthefairvalueoftheequityinstrumentatthedatetheserviceisacquired,andisincludedintherelevantcostorexpense,whichincreasestheshareholders'equityaccordingly.
②Cash-settledSharePaymentThecash-settledsharepaymentismeasuredatthefairvalueoftheliabilitiesdeterminedbytheCompanybasedonsharesorotherequityinstruments.Ifthevestingrightisavailableimmediatelyafterthegrant,therelevantcostsorexpensesshallbeincludedonthedateofgrant,andtheliabilitiesshallbeincreasedaccordingly;ifvestingrightisavailableaftertheserviceiscompletedwithinthewaitingperiodormettherequiredperformanceconditions,basedonthebestestimateofthevestingrightsoneach
NotestotheFinancialStatementsbalancesheetdateofthewaitingperiod,accordingtothefairvalueoftheliabilitiesassumedbythecompany,theservicesobtainedinthecurrentperiodareincludedinthecostorexpense,andtheliabilitiesareincreasedaccordingly.Thefairvalueoftheliabilitiesshallbere-measuredoneachbalancesheetdateandsettlementdatebeforethesettlementoftherelevantliabilities,andthechangesshallberecordedintheprofitandlossofthecurrentperiod.
(2)RelevantAccountingTreatmentofshare-basedpaymentplan’smodificationandterminationWhentheCompanymodifiestheshare-basedpaymentplan,ifthemodificationincreasesthefairvalueoftheequityinstrumentsgranted,theincreaseinthefairvalueoftheequityinstrumentsisrecognizedaccordingly.Theincreaseinthefairvalueofequityinstrumentsreferstothedifferencebetweenthefairvalueoftheequityinstrumentsbeforeandafterthemodification.Ifthemodificationreducesthetotalfairvalueoftheshare-basedpaymentoradoptsothermethodsthatarenotconducivetotheemployee,theserviceobtainedshallcontinuetobeaccountedfor,asifthechangehasneveroccurred,unlesstheCompanycancelssomeorallofequityinstruments.Duringthewaitingperiod,ifthegrantedequityinstrumentiscancelled,theCompanywillcancelthegrantedequityinstrumentasanacceleratedexercise,andtheamounttoberecognizedintheremainingwaitingperiodwillbeimmediatelyincludedinthecurrentprofitandloss,andthecapitalreservewillberecognized.Iftheemployeeorotherpartycanchoosetomeetthenon-vestingconditionsbutfailstomeetthewaitingperiod,theCompanywilltreatitasacancellationoftheequityinstrument.
(3)AccountingTreatmentofSharePaymentTransactionsbetweentheCompanyanditsShareholdersorActualControllersInrespectoftheshare-basedpaymenttransactionbetweenthecompanyandtheshareholdersoractualcontrollersofthecompany,Ifoneofthesettlemententerpriseandtheservicereceivingenterpriseisinthecompanyandtheotherisoutsidethecompany,itshallbeaccountedforintheconsolidatedfinancialstatementsofthecompanyaccordingtothefollowingprovisions:
①Ifthesettlemententerprisesettleswithitsownequityinstrument,theshare-basedpaymenttransactionshallbetreatedasequity-settledshare-basedpayment;otherwise,itshallbetreatedasacash-settledshare-basedpayment.
Ifthesettlemententerpriseisaninvestorofaservicedenterprise,itshallberecognizedasthelong-termequityinvestmentoftheservicedenterpriseaccordingtothefairvalueoftheequityinstrumentatthegrantdateorthefairvalueoftheliabilitytobeassumed,andthecapitalreserve(othercapitalreserve)orliabilitiesshallberecognized.
②Iftheservicedenterprisehasnosettlementobligationorgrantsitsownemployeestheequityinstruments,thesharepaymenttransactionshallbetreatedasequity-settledsharepayment;iftheservicedenterprisehassettlementobligationandgrantsitsemployeesotherthanitsownequityinstruments,thesharepaymenttransactionshallbetreatedasacash-settledsharepayment.Forthesharebasedpaymentincurredbetweencompanieswithinthegroup,iftheservicedenterpriseandsettlemententerprisearenotthesame,thenthepaymentshouldberecognizedandmeasuredintheirindividualfinancialstatements,theyshouldbeaccountedforusingtheaboveprinciples
27.Revenue
Theterm“revenue”referstothegrossinflowofeconomicbenefitsarisinginthecourseoftheordinaryactivitiesofanenterprise,whichmayincreaseoftheshareholder'sequitiesandisirrelevanttothecapitaloftheshareholder.Whenthecompanysignsacontract,itevaluatesthecontract,identifiestheindividualperformanceobligationscontainedinthecontract,anddetermineswhethertheindividualperformanceobligationsareperformedwithinacertainperiodoftimeoratacertainpointoftime.Whenthecompanyhasfulfilledalltheperformanceobligationsinthecontract,therevenueshallberecognizedrespectivelyaccordingtothetransactionpriceapportionedtotheperformanceobligations.Acontractwithacustomergenerallyexplicitlystatesthegoodsorservicesthatanentitypromisestotransfertoacustomer.Thetransactionpriceistheamountofconsiderationtowhichanentityexpectstobeentitledinexchangefortransferringpromisedgoodsorservicestoacustomer,excludingamountscollectedonbehalfofthirdparties.
Generally,thecompanyrecognizestherevenuefromthesalesofgoodsbasedonthetransactionpriceapportionedtothesingleperformanceobligationwhenthecustomerobtainsthecontrolrightoftherelevantgoodsonthebasisofcomprehensivelyconsideringthefollowingfactors:thecompanyhastherighttoreceivepaymentinrespectofthegoodsorservicescurrently,thatis,thecustomerhastheobligationtopayforthegoodscurrently;thecompanyhastransferredthelegalownershipofthegoodstothecustomer,thatis,thecustomerhasthelegalownershipofthegoods;TheCompanyhastransferredthephysicalgoodsofthecommoditytotheCustomerortheCustomerhasobtainedthequalificationofphysicalgoodsrightofthecommodity.TheconsiderationobtainedbytheCompanyinrespectofthetransferofthecommodityislikelytoberecovered;Otherindicationsthatthecustomerhastakencontrolofthecommodity.
Fortheperformanceobligationsperformedinacertainperiodoftime,suchastheservicesprovided,thecompanyadoptstheinputmethodtodeterminetheappropriateperformanceprogress,andrecognizestherevenueaccordingtotheperformanceprogressinthatperiodoftime.Onthebalancesheetdate,thecompanyshallrecognizethecurrentincomeaccordingtothetotaltransactionpriceofthecontract
NotestotheFinancialStatementsmultipliedbytheprogressofperformanceminustheaccumulatedrecognizedincome.Ifoneofthefollowingconditionsissatisfied,itisregardedastheperformanceobligationperformedduringacertainperiodoftime:theCustomerobtainsandconsumestheeconomicbenefitsarisingfromtheperformanceoftheCompanyatthesametimeoftheperformanceoftheCompany;Customerscancontrolthegoodsunderconstructionduringtheperformanceofthecontract;TheproductsproducedbytheCompanyduringtheperformanceoftheContractareofirreplaceableuse,andtheCompanyshallbeentitledtoreceivepaymentfortheaccumulatedpartofthecompletedperformancesofarduringthewholetermoftheContract.Otherwise,theCompanyrecognizesrevenueatthepointwhentheCustomeracquirescontroloftherelevantgoodsorservices.Wherethecontractcontainstwoormoreperformanceobligations,anentityshall,onthecommencementdateofthecontract,allocatethetransactionpricetoeachperformanceobligationidentifiedinthecontractonarelativestandalonesellingpricebasis.Exceptwhenanentityhasobservableevidencethattheentirediscountrelatestoonlyoneormore,butnotall,performanceobligationsinacontract,theentityshallallocateadiscountproportionatelytoallperformanceobligationsinthecontract.Stand-alonesellingpricereferstothepriceofthegoodsorservicessoldbytheCompanytothecustomerseparately.Ifthestand-alonesellingpricecannotbedirectlyobserved,theCompanyshalltakeintoaccountallrelevantinformationreasonablyavailableandestimatethestand-alonesellingpricebyobservableinputvaluestothemaximumextentAsforthesaleswithqualityguarantee,exceptforitguaranteestheproductonsaleofservicemeetsthedesignatedstandardstothecustomer,providingasingleseparateservice,thisqualityguaranteedcomposesthesingleperformanceobligation.Otherwise,theCompanyshalltreattheaccountingmethodonqualityguaranteeobligationsinaccordancewiththeEnterpriseAccountingStandardsNo,13-Contingencies.
Ifthecontractcomprisedofsignificantfinancingelements,theCompanyshallrecognizestheamountofpayablesincashtodeterminethetradingpricebasedontheassumptionthatthecustomerobtainstheproductsorservicecontrolrights.Thedifferencebetweenthepricestipulatedinthecontractoragreementanditscontractconsiderationshallbeamortizedwithintheperiodofthecontractoragreement.throughtherealinterestmethod.Asapracticalexpedient,anentityneednotadjustthepromisedamountofconsiderationfortheeffectsofasignificantfinancingcomponentiftheentityexpects,atcontractinception,thattheperiodbetweenwhentheentitytransfersapromisedgoodorservicetothecustomerandwhenthecustomerpaysforthatgoodorservicewillbeoneyearorless.
TheCompanyjustifiesthetradingidentityisthemajorresponsiblepersonoronbehalfbasedonwhetherithasthecontrolrighttotheproductortheservicebeforetransferringtheproductsorserviceto
NotestotheFinancialStatementsthecustomer.AsthemajorresponsiblepersonoftheCompany,shallrecognizestherevenuebasedonthetotalconsiderationoftheamountreceivedorreceivable.Otherwise,astheagentoftheCompany,shallrecognizestherevenuebasedontheexpectedrightofobtainingthecommissionorservicecharge,whichiscalculatedasthetotalconsiderationontheamountreceivedorreceivabledeductingthenetamountpayabletootherrelatedpartiesorrecognizesontheamountofcommissionorproportionetc.TheCompanyreceivedtheamountofproductssalesorserviceinadvance,shallrecognizesitasliabilitiesinthefirst,thenaccountedasrevenueuponfulfillingrelevantperformanceobligations.TheCompanyhastransferredtheproductsorservicetoitsclientsandhasrightstoobtaintheconsiderations(andthisrightsisobligedtootherelementsofpassingtime)listedasthecontractualassets.Contractualassetsareaccruedthedevaluationprovisionbasedontheexpectedcreditloss.TheCompanyhastheunconditionalrights(onlydependsonthepassingoftime)toitscustomerforobtainingtheconsiderations,listedasitemreceivables.Theconsiderationofamountreceivedorreceivable,whichisobtainedtoitscustomer,shalltransferproductorserviceobligationtothem,listedascontractualliabilities.
ThedetailedaccountingpoliciesrelatedtothemajoractivitiesofobtainingtherevenueoftheCompany
(1)Salesprocessing
Theproductionandprocessingsalescomprisemainlyofsalesofoilsanoilseeds,foodetc.TheCompanyrecognizedthesalesrevenuewhentheamountsreceivedoridentificationobtaineduponsales,whichhasbeensubmittedandsignedbythecustomer.
(2)TradingRevenue
IftheCompanyobtainedtheproductcontrolrightsfromthethirdpartyandtransferredtotheclient,assumedthesignificantobligationsunderthetransactionoftransferringtheproductstotheclient.i.e.inventoryrisk,andhasrightstodeterminethepriceoftheproductsoneself.TheidentityoftheCompanyunderthetransactionisthemajorresponsibleperson,recognizingthetradingrevenuebasedontheexpectedrightsforobtainingthetotalconsiderationstipulatedonthecontract.TheCompanymadecommitmenttoarrangeotherstoprovidespecificproducts,buthasnocontrolrightsonthisbeforeprovidingthespecificproductstoclients.TheidentityoftheCompanyunderthetransactionisagent,recognizingtherevenueonthecommissionobtainedorserviceamountforarrangingotherstoprovidethespecificproductstoclients.
28.Contractcost
Contractcostcomprisescontractperformancecostandcontractacquisitioncost.
NotestotheFinancialStatementsThecostincurredbythecompanyfortheperformanceofthecontract,whichdoesnotfallwithinthescopeofotheraccountingstandardsforbusinessenterprisesotherthantheincomestandardandmeetsthefollowingconditionsatthesametime,isrecognizedasanassetasthecontractperformancecost:
(1)Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsexplicitlybornebythecustomerandothercostsincurredsolelyasaresultofthecontract;
(2)Thecostincreasesthecompany'sresourcesforfulfillingitsperformanceobligationsinthefuture;
(3)Thecostisexpectedtoberecovered.Theassetsarepresentedininventoryorothernon-currentassetsaccordingtowhethertheamortizationperiodhasexceededonenormaloperatingcycleatthetimeofitsinitialrecognition.Iftheincrementalcostincurredbythecompanytoobtainthecontractisexpectedtoberecovered,itshallberecognizedasanassetasthecontractacquisitioncost.Incrementalcostreferstothecostthatwillnotoccurifthecompanydoesnotobtainthecontract.
Theassetsrelatedtothecontractcostmentionedaboveshallbeamortizedatthetimeofperformanceoftheobligationoraccordingtotheperformanceprogressonthesamebasisastheincomerecognitionofthecommodityorservicerelatedtotheassetandshallberecordedintothecurrentprofitandloss.
Ifthebookvalueoftheaboveassetsrelatedtothecontractcostishigherthanthedifferencebetweentheresidualconsiderationexpectedtobeobtainedbythecompanyduetothetransferofthegoodsrelatedtotheassetsandtheestimatedcosttobeincurredforthetransferoftherelevantgoods,theexcesspartshallbesetasideasanimpairmentprovisionandrecognizedasanimpairmentlossoftheasset.
29.Governmentgrants
Governmentgrantreferstothecompany'sacquisitionofmonetaryandnon-monetaryassetsfromthegovernmentfreeofcharge,excludingthecapitalinvestedbythegovernmentasaninvestorandenjoyingthecorrespondingowner'srightsandinterests.Governmentgrantsincludeassets-relatedgrantsandrevenue-relatedgrants.Thecompanydefinesthegovernmentgrantobtainedforthepurchaseandconstructionoflong-termassetsorfortheformationoflong-termassetsinotherwaysasthegovernmentgrantrelatedtoassets;theremaininggovernmentgrantisdefinedasthegovernmentgrantrelatedtoincome.Iftheobjectofgrantsisnotspecifiedingovernmentdocuments,thegrantsshallbedividedintoincome-relatedgovernmentgrantsandassets-relatedgovernmentgrantsinthefollowingways:(1)Ifthegovernmentdocumentclarifiesthespecificprojectforwhichthegrantistargeted,theproportionoftheexpenditureamountoftheassetstobeformedandtheamountoftheexpendituresincludedintheexpensesinthebudgetofthespecificprojectaredivided,andtheproportionofgrantdivisionneedstobereviewed
NotestotheFinancialStatementsoneachbalancesheetdayandchangedifnecessary.(2)Ingovernmentdocuments,ifthepurposeisexpressedonlyingeneraltermsandnospecificprojectisspecified,thegrantshallberegardedasagovernmentgrantrelatedtotheincome.Whereagovernmentgrantisamonetaryasset,itshallbemeasuredaccordingtotheamountreceivedorreceivable.Ifthegovernmentgrantsarenon-monetaryassets,theyshallbemeasuredatthefairvalue;ifthefairvaluecannotbeobtainedreliably,theyshallbemeasuredatthenominalamount.Governmentgrantsmeasuredinnominalamountsshallberecognizeddirectlyincurrentprofitsandlosses.
TheCompanyusuallyconfirmsandmeasuresthegovernmentgrantaccordingtotheamountwhenitisactuallyreceived.However,ifthereisconclusiveevidenceattheendoftheperiodthattherelevantconditionsstipulatedinthefinancialsupportpolicycanbemetandthefinancialsupportfundsareexpectedtobereceived,itshallbemeasuredaccordingtotheamountreceivable.Governmentgrantsmeasuredinaccordancewiththeamountreceivableshallmeetthefollowingconditionsatthesametime:
(1)Theamountofthesubventionreceivablehasbeenconfirmedbytheauthorizedgovernmentdepartments,orcanbereasonablycalculatedaccordingtotherelevantprovisionsoftheformallyissuedfinancialfundmanagementmeasures,andthereisnosignificantuncertaintyintheamountexpected;(2)Accordingtothe"RegulationsontheOpennessofGovernmentInformation"thatthelocalfinancialdepartmentofficiallyreleasedandinaccordancewiththeprovisionsofthe"RegulationsontheOpennessofGovernmentInformation,"thefinancialsupportprojectanditsfinancialfundmanagementmeasuresshouldbeinclusive(anyeligibleenterprisecanapplyforthem),ratherthanbeingspecificallytailoredtospecificcompanies;(3)Therelevantgrantapprovalhasclearlypromisedthepaymentperiod,andtheallocationofthepaymentisguaranteedbythecorrespondingbudget,soitcanbereasonablyensurethatitcanbereceivedwithintheprescribedtimelimit;(4)Otherrelevantconditions(ifany)tobemetinaccordancewiththespecificcircumstancesoftheCompanyandthegrants.
Governmentgrantsrelatedtoassetsarerecognizedasdeferredearningsandaredividedintocurrentprofitsandlossesinareasonableandsystematicwayduringtheservicelifeoftheassetsconcerned.Thegovernmentgrantsrelatedtorevenue,whichareusedtocompensatefortherelatedcostorlossinthesubsequentperiod,shallberecognizedasdeferredincome,andshallberecognizedinprofitorlossintheperiodinwhichtherelatedcostsorlossesarerecognized;ifitisusedtocompensatetherelatedcostsorlossesthathasoccurred,itshallbedirectlyrecognizedinthecurrentprofitandloss.
Itincludesgovernmentgrantsrelatedtobothassetsandincome,anddifferentpartsareseparatelyclassifiedforaccountingtreatment;ifitisdifficulttodistinguish,thewholeisclassifiedasgovernmentgrantsrelatedtoincome.
NotestotheFinancialStatementsGovernmentgrantsrelatedtothedailyactivitiesoftheCompanyshallbeincludedinotherincomeorcostdeductionsaccordingtothenatureoftheeconomicbusiness;governmentsubsidiesunrelatedtodailyactivitiesshallbeincludedinthenon-operatingrevenuesandexpenses.Whentherecognizedgovernmentgrantsneedtobereturned,iftherearerelevantdeferredearningsbalances,thebookbalanceofrelateddeferredearningsshallbededucted,andtheexcesspartshallbeincludedinthecurrentprofitsandlossesorthebookvalueofassetsshallbeadjusted,otherwise,thebookvalueofassetsshallbedirectlyincludedinthecurrentprofitsandlosses.Thecompanywillobtainpreferentialpolicyloansdiscountinaccordancewiththefinancewillbeallocatedtotheloanbankdiscountfundsandthefinancewillbedirectlyallocatedtothecompanydiscountfundsintwocases:
(1)Ifthefinancedepartmentallocatesthediscountinterestfundstothelendingbank,andthelendingbankprovidestheloantotheCompanyatthepolicypreferentialinterestrate,theCompanychoosestoconductaccountingtreatmentaccordingtothefollowingmethods:theloanamountactuallyreceivedshallbetakenastheentryvalueoftheloan,andtherelevantborrowingcostsshallbecalculatedinaccordancewiththeloanprincipalandthepolicypreferentialinterestrate.
(2)Ifthefinanceallocatesthediscountfundsdirectlytothecompany,thecompanywilloffsetthecorrespondingdiscountagainsttherelevantborrowingcosts.
30.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
(1)CurrentIncomeTax
Onthebalancesheetdate,thecurrentincometaxliabilities(orassets)formedinthecurrentandpreviousperiodsaremeasuredbytheexpectedamountofincometaxpayable(orreturned)inaccordancewiththeprovisionsoftheTaxLaw.Theamountoftaxableincomeonwhichcurrentincometaxexpensesarecalculatedisbasedonthecorrespondingadjustmentofpre-taxaccountingprofitsinthereportingperiodinaccordancewiththerelevanttaxlaws.
(2)DeferredIncomeTaxAssetsandDeferredIncomeTaxLiabilities
Thedifferencebetweenthebookvalueofcertainassetsandliabilitiesandtheirtaxbasis,andthetemporarydifferencebetweenthebookvalueofitemsthatarenotrecognizedasassetsandliabilitiesbutwhichcanbedeterminedastheirtaxbasisaccordingtothetaxlaw,areconfirmedbythebalancesheetliabilitymethod.
Taxabletemporarydifferenceswhichrelatedtotheinitialrecognitionofgoodwillandtheinitialrecognitionofanassetorliabilityarisingfromatransactionthatisneitherabusinesscombinationnoran
NotestotheFinancialStatementsaccountingprofitortaxableincome(ordeductibleloss),relevantdeferredincometaxliabilitiesshallnotberecognized.Inaddition,fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associatesandjointventures,iftheCompanyisabletocontroltheturnaroundtimeoftemporarydifferences,andthetemporarydifferenceisunlikelytobereversedintheforeseeablefuture,therelateddeferredincometaxliabilitiesshallnotberecognized.Exceptfortheaboveexceptions,theCompanyrecognizesallotherdeferredincometaxliabilitiesarisingfromtaxabletemporarydifferences.Taxabletemporarydifferenceswhichrelatedtotheinitialrecognitionofanassetorliabilityarisingfromatransactionthatisneitherabusinesscombinationnoranaccountingprofitortaxableincome(ordeductibleloss),relevantdeferredincometaxliabilitiesshallnotberecognized.Inaddition,fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associatesandjointventures,ifthetemporarydifferenceisunlikelytobereversedintheforeseeablefuture,ortheamountoftaxableincomeusedtooffsetthetemporarydifferenceisunlikelytobeobtainedinthefuture,thedeferredincometaxassetsconcernedshallnotberecognized.Exceptfortheaboveexceptions,theCompanyrecognizesotherdeferredincometaxassetsthatcanoffsettemporarydifferences,subjecttotheamountoftaxableincomethatislikelytobeobtainedtooffsettemporarydifferences.
Fordeductiblelossesandtaxcreditsthatcanbecarriedforwardinsubsequentyears,thecorrespondingdeferredincometaxassetsarerecognizedtotheextentthatitisprobablethatthefuturetaxableincomeshallbeusedtooffsetthedeductiblelossesandtaxcredits.
Onthebalancesheetdate,thedeferredincometaxassetsanddeferredincometaxliabilitiesshallbemeasuredattheapplicabletaxratesintheperiodinwhichtherelatedassetsarerecoveredortherelatedliabilitiesarerecoveredinaccordancewiththetaxlaws.
Onthebalancesheetdate,thebookvalueofdeferredincometaxassetsisreviewed.andthebookvalueofdeferredincometaxassetsiswrittendownifitislikelythatsufficienttaxableincomewillnotbeavailabletooffsetthebenefitsofdeferredincometaxassetsinthefuture.Whenitispossibletoobtainsufficienttaxableincome,theamountwrittendownshallbereversed.
(3)Incometaxexpenses
Incometaxexpensesincludecurrentincometaxanddeferredincometax.
Inadditiontorecognizingthatthecurrentincometaxanddeferredincometaxrelatedtoothertransactionsandmattersdirectlyincludedinshareholder'srightsandinterestsshallberecognizedinothercomprehensiveincomeorshareholder'srightsandinterests,andthebookvalueofadjustedgoodwillfromdeferredincometaxresultingfromthemergerofenterprises,theothercurrentincometaxanddeferredincometaxexpensesorgainsshallberecognizedinprofitorlossforthecurrentperiod.
(4)OffsetofIncomeTaxWhenthecompanyhaslegalrightstosettleonanetbasis,andintendstosettleonanetbasisoracquireassetsandpayoffliabilitiesatthesametime,thecompany'scurrentincometaxassetsandcurrentincometaxliabilitiesshallbepresentedonanetbasisaftertheoffset.
Whenithasthelegalrighttosettlecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis,anddeferredincometaxassetsanddeferredincometaxliabilitiesarerelatedtotheincometaxleviedbythesametaxadministrationdepartmentonthesametaxpayerortodifferenttaxpayers,butinthefuture,duringeachimportantperiodofdeferredincometaxassetsandliabilitiesbeingreversed,thetaxpayerinvolvedintendstosettlethecurrentincometaxassetsandliabilitiesonanetbasis,oracquireassetsandpayoffliabilitiessimultaneously,thedeferredtheincometaxassetsanddeferredincometaxliabilitiesoftheCompanyshallbepresentedonanetbasisafteroffset.
31.Lease
Onthecommencementdateofacontract,anenterpriseshallassesswhetherthecontractisaleaseorincludesalease.Whereapartytoacontracttransferstherighttocontroltheuseofoneormoreidentifiedassetsforacertainperiodoftimeinreturnforconsideration,thecontractisaleaseorincludesalease.Todeterminewhethertherighttocontroltheuseofidentifiedassetswithinacertainperiodoftimeunderacontracthasbeentransferred,anenterpriseshallassesswhetheraclientinthecontracthastherighttousealmostalloftheeconomicbenefitsarisingfromtheuseoftheidentifiedassetsduringtheperiodofuse,andhastherighttodominatetheuseofidentifiedassetsduringthisperiodofuse.
Whereacontractconcurrentlycontainsmultipleseparateleases,thelesseeandlessorshallsplitthecontractandconductaccountingtreatmentrespectivelyforallseparateleases.
Wherethefollowingconditionsareconcurrentlymet,useoftherightsofidentifiedassetsshallconstituteaseparateleaseinacontract:
①Alesseemayearnprofitsfromseparateuseoftheassetsorjointusewithotherresourcesreadilyavailable.
②Thereisnohighdependenceorhighcorrelationbetweentheassetsandotherassetsinthecontract.
Whereacontractconcurrentlyincludesbothleasedandnon-leasedparts,theCompany,asthelesseeandlessor,shallsplittheleasedandnon-leasedpartstoconductaccountingtreatment.
(1)TheCompanyrecordsoperatingleasebusinessasalessee.
Themaintypesofleasedassetsofthecompanyincludehousesandbuildings,transportationequipmentandlanduserightsetc.
1)InitialmeasurementAtthebeginningoftheleaseperiod,theCompanyrecognizesitsrighttousetheleasedassetsduringtheleaseperiodasaright-of-useasset,recognitionofthepresentvalueofoutstandingleasepaymentsasleaseliabilities,exceptshort-termandlow-valueassetleases.Incalculatingthepresentvalueoftheleasepayment,theCompanyusestheinterestrateincludedintheleaseasthediscountrate.Wheretheinterestrateincludedintheleasecannotbedetermined,theCompanyusestheincrementalborrowingrateasthediscountrate
TheleaseperiodistheirrevocableperiodduringwhichtheCompanyisentitledtousetheleaseassets.WheretheCompanyhastheoptiontorenewthelease,thatis,therighttochoosetorenewtheleaseoftheasset,andreasonablydeterminesthattheoptionwillbeexercised,Theleaseperiodalsoincludestheperiodcoveredbytheleaserenewaloption.TheCompanyhastheoptiontoterminatethelease,thatis,therighttoterminatetheleaseoftheasset,Providedthatitisreasonablydeterminedthattheoptionwillnotbeexercised,theleaseperiodincludestheperiodcoveredbytheoptiontoterminatethelease.WhereamaterialeventorchangewithinthecontroloftheCompanyoccursandaffectswhethertheCompanyreasonablydeterminesthattheappropriateoptionwillbeexercised...TheCompanywilldeterminetoexercisetheoptionofrenewingthelease,re-evaluationoftheoptiontopurchaseornottoexercisetheoptiontoterminatetheleasonitsreasonability.
2)Subsequentmeasurement
TheCompanyadoptsthestraight-linemethodtodepreciatetherighttouseassets.Whereitisreasonabletodeterminethattheleasedassetsaretobeowneduponexpiryoftheleaseterm,theCompanyshallcalculatetheleasedassetswithintheremainingusefullifeoftheleasedassets.Iftheownershipoftheleasedassetsuponexpiryoftheleasetermisunabletobereasonablydetermined,theCompanyshallaccruedepreciationwithinashortperiodoftimebetweentheleasetermandtheremainingusefullifeoftheleasedassets.TheinterestexpensesoftheleaseliabilitiesforeachperiodoftheleasetermatthediscountrateisrecognizedbytheCompanyandshallbeincludedintothecurrentprofitorloss.Variableleasepaymentsthatarenotincludedintheleaseholdliabilitymeasureareincludedinthecurrentprofitandlossatthetimeofactualincurance.
Aftercommencementoftheleaseperiod,whenthereisachangeintheamountofsubstantialfixedpaymentsandtheamountduetowhichtheguaranteebalanceisexpected,changesinindicesorratiosusedtodeterminerentalpayments,wheretheassessmentofpurchaseoptions,therenewaloptionorterminationoptionoractualexerciseoftheoptionchanges,theCompanyre-measurestheleaseliabilitiesaccordingtothepresentvalueofthechangeinleasepayments,andadjustthebookvalueoftherighttouseassetsaccordingly.Ifthebookvalueoftherighttouseassetshasbeenreducedtozero,buttheleaseliabilitystillneedstobefurtherreduced,theCompanywillrecordtheremainingamountinthecurrentprofitorloss.
3)LeasechangeLeasemodificationreferstothemodificationoftheleasescope,leaseconsiderationandleasetermbeyondthetermsoftheoriginalcontract,includingincreasingorterminatingtherighttouseoneormoreleasedassets,extendingorshorteningtheleasetermspecifiedinthecontract,etc.Iftheleasechangesandthefollowingconditionsaremet,theCompanywillaccountfortheleasechangeasaseparatelease:
①Theleasechangeexpandsthescopeoftheleasebyaddingtherighttouseoneormoreleasedassets;
②Theincreasedconsiderationisequivalenttotheseparatepricefortheextendedportionofthelease,adjustedforthecircumstancesofthecontract.
Iftheleasechangeisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasechange,theCompanyredeterminestheleasetermanddiscountsthechangedleasepaymentatthereviseddiscountratetoremeasuretheleaseliability.Incalculatingthepresentvalueoftheleasepaymentafterthechange,theCompanyusestheinherentinterestrateoftheleaseduringtheremainingleasetermasthediscountrate;Iftheinherentinterestrateoftheleasefortheremainingleasetermcannotbedetermined,theCompany'sincrementalborrowingrateontheeffectivedateoftheleasechangeshallbeusedasthediscountrate.
TheCompanyaccountsfortheimpactoftheaboveadjustmentofleaseliabilitiesinthefollowingcases:
①Iftheleasechangeresultsinthereductionoftheleasescopeortheshorteningoftheleaseterm,theCompanyshallreducethebookvalueoftherightofuseassetstoreflectthepartialorcompleteterminationofthelease.TheCompanyrecognisesgainsorlossesrelatedtopartialorcompleteterminationoftheleaseinprofitorlossforthecurrentperiod.
②Forotherleasechanges,thecompanyshalladjustthebookvalueoftherighttouseassetsaccordingly
4)Short-termleasesandleasesoflowvalueassets
TheCompanywillconsideraleaseforaperiodnotexceeding12monthsandexcludingapurchaseoptionasashort-termleaseonthecommencementdateoftheleaseterm;Aleasewithalowervaluewhenasingleleasedassetisanewassetisidentifiedasalow-valueassetlease.WheretheCompanysubleasesorintendstosubleaseleasedassets,theoriginalleaseisnotdeemedtobealow-valueassetlease.Therelevantassetcostorcurrentprofitorlossisrecognisedonastraight-linebasisduringeachperiodoftheleaseterm,andthecontingentrentisrecognisedincurrentprofitorlosswhenactuallyincurred
(2)ThecompanyrecordsoperatingleasebusinessasalessorTheleasecommencementdateessentiallytransfersalmostalltherisksandrewardsassociatedwiththeownershipoftheleasedassettofinanceleases,andallotherleasesareoperatingleases
1)OperatingleaseTherentalincomeofoperatingleaseshallberecognizedascurrentprofitandlossaccordingtothestraight-linemethodduringeachperiodoftheleaseperiod.Thelargerinitialdirectexpensesarecapitalizedwhenoccurring,andtheprofitsandlossesofthecurrentperiodshallberecordedinstagesonthesamebasisastherecognizedrentalincomeduringthewholeleaseperiod;thesmallerinitialdirectexpensesshallberecordedintheprofitsandlossesofthecurrentperiodwhenoccurring.Contingentrentalsshallbeincludedincurrentprofitsandlosseswhenactuallyoccurring.
2)FinanceleaseAtthebeginningdateoftheleaseterm,theCompanyrecognizesthefinancialleasepaymentreceivableforthefinancialleaseandterminatestherecognitionofthefinancialleaseassets.WhentheCompanymakestheinitialmeasurementofthefinancialleasereceivable,thenetleaseinvestmentistakenastherecordedvalueofthefinancialleasereceivable.Thenetleaseinvestmentisthesumoftheunsecuredbalanceandthepresentvalueoftheleaseproceedsnotyetreceivedatthecommencementdateoftheleaseterm,discountedattheintrinsicinterestrateofthelease.TheCompanycalculatesandrecognizesinterestincomeforeachperiodoftheleasetermbasedontheinherentinterestrateofthelease.
TheCompanypresentsfinancialleasereceivablesaslong-termreceivables,andfinancialleasereceivablesreceivedwithinoneyear(includingoneyear)fromthebalancesheetdatearepresentedasnon-currentassetsmaturingwithinoneyear.
32.Otherimportantaccountingpoliciesandaccountingestimates
(1)Hedgeaccounting
Inordertoavoidsomerisks,theCompanyhedgessomefinancialinstrumentsashedginginstruments.Forthehedgesmeetingthespecifiedconditions,theCompanyadoptsthehedgeaccountingmethodfortreatment.ThehedgingoftheCompanyisfairvaluehedging.
Atthebeginningofhedging,theCompanyformallydesignateshedginginstrumentsandhedgeditems,andprepareswrittendocumentsonhedgingrelationshipandriskmanagementstrategyandriskmanagementobjectivesoftheCompanyengagedinhedging.Inaddition,theCompanywillcontinuouslyevaluatetheeffectivenessofhedgingatthebeginningandafterthehedging.
(2)Fairvaluehedging
NotestotheFinancialStatementsIfahedginginstrumentisdesignatedasafairvaluehedgeandmeetstheconditions,theprofitsorlossesarisingtherefromshallbeincludedintothecurrentprofitsandlosses.Ifthehedginginstrumenthedgesthenon-tradingequityinstrumentinvestment(oritscomponents)thatismeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,thegainsandlossesgeneratedbythehedginginstrumentareincludedinothercomprehensiveincome.Theprofitorlossofthehedgeditemduetothehedgedriskexposureshallbeincludedintothecurrentprofitsandlosses,andthebookvalueofthehedgeditemshallbeadjustedatthesametime.Ifthehedgeditemismeasuredatfairvalue,thegainorlossofthehedgeditemduetothehedgedriskdoesnotneedtoadjustthebookvalueofthehedgeditem,andtherelevantgainsandlossesareincludedintothecurrentprofitsandlossesorothercomprehensiveincome.WhentheCompanycancelsthedesignationofthehedgingrelationship,thehedginginstrumenthasexpiredorbeensold,thecontracthasbeenterminatedorexercised,ornolongermeetstheconditionsfortheapplicationofhedgeaccounting,theapplicationofhedgeaccountingshallbeterminated.
33.SignificantaccountingjudgmentsandestimatesThereisnosignificantchangeontheaccountingjudgmentsandestimatesIV.Taxes
1.MainTaxesandTaxRates
| Types | TaxBasis | TaxRate |
| ValueAddedTax | Afterdeductingtheallowableamountofinputtaxdeductedinthecurrentperiod,thedifferencebetweenthesalesofgoods,taxableservicesandtaxableservicesincomecalculatedinaccordancewiththeprovisionsoftheTaxLawisthetaxablevalue-addedtax. | 1%、3%、5%、6%、9%、10%、13% |
| UrbanMaintenance&ConstructionTax | Accordingtotheactualvalue-addedtax | 7%、5% |
| Extrachargesofeducationfunds | Accordingtovalueaddedtaxandconsumptiontaxonthebasisofactualpayment | 3% |
| LocalExtraChargesofEducationFunds | Accordingtovalueaddedtaxandconsumptiontaxonthebasisofactualpayment | 2% |
| CorporateTaxes | Accordingtotaxableincome | 25%、20%、17%、15% |
| PropertyTax | Accordingto70%oforiginalvalueoftherealestate(orrentalincome)asthetaxbase;accordingtotheoriginalvalueoftherealestatededucted30%atatime. | 12%、1.2% |
Representationontaxpayersofdifferententerpriseincometaxrates:
| TaxPayers | IncomeTaxRate |
| HangzhouLin'anChunmanyuanAgriculturalDevelopmentCo.,Ltd. | 20% |
| Jingliang(Singapore)InternationalTradeCo.,Ltd. | 17% |
| BeijingGuchuanBreadFoodCo.,Ltd. | 15% |
2.Preferentialtax
BeijingGuchuanBreadFoodCo.,Ltd.,agrade-3subsidiaryoftheCompany,isahigh-techenterprise.Itenjoysthepreferentialtaxpolicyofpayingenterpriseincometaxatthe15%taxrateaccordingtotherelevantprovisionsofboth“LawofthePeople'sRepublicofChinaonTaxCollectionandAdministration”and“RulesfortheImplementationoftheTaxCollectionandAdministrationLawofthePeople'sRepublicofChina”.Itobtainedthecertificateofhigh-techenterpriseNo.GR202111000657,validuntilSeptember14,2024.
Thegrade-3subsidiaryBeijingTianweikanggreaseDistributioncenterCo.,Ltd.,isexemptfromstampdutyonthecapitalaccountbookinaccordancewiththeAnnouncementontheContinuationofthePreferentialTaxPoliciesofPartoftheNationalCommodityReservesissuedbyBeijingMunicipalBureauofFinanceandtheStateTaxationBureauofBeijingMunicipalTaxationBureau(BeijingFinanceTaxationBureau[2022]No.1230)(No.82022).Stampdutyshallbeexemptedfromthepurchaseandsalecontractssignedinthecourseofundertakingcommodityreservebusiness,andstampdutypayablebyotherpartiestothecontractshallbeleviedaccordingtotheregulations.Propertytaxandurbanlandusetaxshallbeexemptedfromthepropertytaxandurbanlandusetaxfortheself-useofthepropertyandlandthatundertakescommodityreservebusiness.ThenoticewillbeenforcedfromJanuary1,2022toDecember31,2023.
Jingliang(Singapore)InternationalTradeCo.,Ltd.,agrade-3subsidiaryoftheCompany,leviestaxesontheprincipleofterritoriality.Thecompanyistaxedontheterritorialityprinciple.AccordingtoSingapore'spreferentialtaxpolicy,thecompanyenjoystaxexemptionplanisasfollows:forthefirstSGD$10,000oftaxableincomeamountthetaxableincomeamountshallbereducedbySGD$7,500;fortheportionbetweenSGD$10,001andSGD$200,000,thetaxableincomeamountshallbereducedbySGD$95,000;FortheportionexceedingSGD$200,001,thetaxableincomeamountshallnotbereduced.Thecompanyshallpayincometaxattherateof17%onthetaxableincomeamountafterexemption.
HangzhouLinanLittleAngelFoodCo.,Ltd.,agrade-4subsidiarycompanyoftheCompany,isawelfareenterprise.SinceMay2016,ithasenjoyedthepreferentialVATpolicyofimmediaterefunduponpaymentinPreferentialValue-AddedTaxPoliciesforPromotingtheEmploymentofDisabledPersons(CaiShui[2016]No.52).
InaccordancewiththerelevantprovisionsofMinistryofFinanceandStateAdministrationofTaxation“NoticeonPreferentialEnterpriseIncomeTaxPoliciesforEmploymentofPersonswithDisabilities”(CaiShui[2009]No.70),HangzhouLinanLittleAngelFoodCo.,Ltd.,agrade-4subsidiarycompanyoftheCompany:Whereanenterpriseemployspersonswithdisabilities,onthebasisof
NotestotheFinancialStatementsdeductionaccordingtothewagespaidtothedisabledworkers,itmaydeducttheamountoftaxableincomeaccordingto100%ofthewagespaidtothedisabledworkers.LinqingLittlePrinceFoodCo.,Ltd.,agrade-4subsidiaryofthecompany,shallbesubjectto50%ofthesalesrevenueonthebasisofthestamptaxpayableintheindustrialprocurementlinkandsaleslinkinthepurchaseandsalecontractofindustrialenterprisesaccordingtotheannouncementNo.10,2018issuedbyShandongProvincialTaxBureau.Thebaseofstampdutypayablein2023shallbecalculatedaccordingto50%ofthesalesrevenue.Thegrade-4subsidiary-LiaoningXiaowangziFoodLimited,accordingtotheSupplementaryAnnouncementonLandUseTaxissuedbyMinistryofFinanceandStateAdministrationofTaxation(89)GSDZNo.140Clause13statesthatpubliclandsuchasmunicipalstreet,square,publicgreenetc.canbeexemptedfromlandusetax,whencomputinglandusetax,theareausedinthecomputationistotalarealesstheareaforafforestandstreet.Thegrade-4subsidiary-HangzhouLin'anChunmanyuanAgriculturalDevelopmentCo.,Ltd.,accordingtotheAnnouncementoftheStateAdministrationofTaxationonMattersRelatingtotheImplementationofPreferentialIncomeTaxPoliciestoSupporttheDevelopmentofSmallandMicro-profitEnterprisesandIndividualEntrepreneursandStateAdministrationofTaxationAnnouncement(No.6[2023]).Thecompanymeetstherequirementsforidentificationasasmallandmicroenterprise,andthe
preferentialpoliciesapplicablein2023areasfollows:forenterpriseswithannualtaxableincomenotexceedingRMB1millionThepartoftheannualtaxableincomeofsmallandmedium-sizedenterprisesshallbereducedby25%ofthetaxableincomeandtheenterpriseincometaxshallbecalculatedatataxrateof20%.
Thegrade-3subsidiaryZhejiangXiaowangziFoodstuffCo.,Ltd.andthegrade-4subsidiarycompany-HangzhouLinanLittleAngelFoodCo.,Ltd.,areentitledtoenjoytheurbanlandusetaxreductionpolicyofunifiedimplementationofclassificationandgradingfortaxpayersinthemanufacturingindustrywithintheprovince(includingNingboCity)accordingtotheprovisionsoftheGeneralOfficeofthePeople'sGovernmentofZhejiangProvinceDocumentNo.62of2019,andenjoy100%and80%reductionofurbanlandusetaxforClassAandClassBenterprisesrespectivelyuntilDecember31,2022,withthemaximumreductionof100%and80%oftheurbanlandusetaxpayablebytheUnitfortheyear.
Thegrade-2subsidiary,Jingliang(Beijing)FoodMarketingManagementCo.,LTD.,thegrade-4subsidiary,LinqingLittlePrinceFoodCo.,LTD.andHangzhouLinanChunmanyuanAgriculturalDevelopmentCo.,LTD.,areapplicabletothefiscalandtaxNo.12[2023]issuedbytheStateAdministrationofTaxationoftheMinistryofFinanceontheFurtherSupportingtheDevelopmentof
NotestotheFinancialStatementsMicroandSmallEnterprisesandIndividualIndustrialandCommercialHouseholds(No.12[2023],.Thecompanymeetstherequirementsforidentificationasasmallandmicroenterprise,andthepreferentialpoliciesapplicablein2023areasfollows:"Forsmall-scaleVATtaxpayers,smallandlow-profitenterprisesandindividualindustrialandcommercialhouseholds,resourcetax(excludingwaterresourcetaxation),urbanmaintenanceandconstructiontax,propertytax,urbanlandusetax,stamptax(excludingstamptaxonsecuritiestransactions),cultivatedlandoccupationtax,educationfeesurchargeandlocaleducationsurchargemaybereducedwithinthe50%taxrange.
Thegrade-2subsidiaryofthecompany-JingliangCaofeidianAgriculturalDevelopmentLimited,accordingtothedocumentJTCFDST(2018)No.1539765025415issuedbytaxauthorityofCaofeidianDistrict,Tangshan,affiliatedtoStateAdministrationofTaxation,andalsofollowedtherulesinLawofthePeople'sRepublicofChinaontheAdministrationofTaxCollection,TheImplementationGuidelineofLawofthePeople'sRepublicofChinaontheAdministrationofTaxCollection,thericeunderthebrandofTixiangproducedbyCaofeidiancompanyifexemptedfromVAT.Thegrade-2subsidiaryofthecompany-JingliangCaofeidianAgriculturalDevelopmentLimited,accordingtotherulesunderClause27ofCorporateLawanditsImplementationGuidelineClause86,thericeunderthebrandofTixiangproducedbyCaofeidiancompanyisexemptedfromCorporationtax.V.NotesonItemsinConsolidatedFinancialStatementsNote:The‘OpeningBalance’oftheperiodreferstoJanuary1,2023andthe‘ClosingBalance’oftheperiodreferstoDecember31,2023.Thepriorperiodreferstotheyear2022andthecurrentperiodreferstotheyear2023.
1.Monetaryfunds
| Items | ClosingBalance | OpeningBalance |
| Cash | 9,949.26 | 10,693.10 |
| BankDeposits | 533,387,412.58 | 201,602,248.02 |
| OtherCurrencyFunds | 119,931,760.14 | 19,913,001.31 |
| DepositintheFinancialCompany | 890,056,629.88 | 339,487,167.33 |
| Total | 1,543,385,751.86 | 561,013,109.76 |
| Amongthem:thetotalamountofmoneydepositedabroad | 3,113,810.75 | 16,585,678.20 |
2.Transactionalfinancialassets
| Items | ClosingBalance | OpeningBalance |
| Financialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses | 11,005,983.98 | |
| Amongthem:debtinstrumentinvestment | 11,005,983.98 | |
| Total | 11,005,983.98 |
3.Derivativefinancialassets
| Items | ClosingBalance | OpeningBalance |
| Hedginginstrumentfloatingprofitandloss | 31,684,620.00 | 201,549.12 |
| Total | 31,684,620.00 | 201,549.12 |
4.AccountsReceivable
(1)Disclosedaccordingtoaging
| Aging | ClosingBalance | OpeningBalance |
| Within1Year(including1year) | 96,507,223.82 | 53,353,692.33 |
| 1to2years(including2years) | 762,767.27 | 18,692,634.64 |
| 2to3years(including3years) | 18,497,856.00 | 7,499,480.04 |
| 3to4years(including4years) | 7,499,480.04 | |
| 4to5years(including5years) | ||
| Morethan5years | 328,259.50 | 328,259.50 |
| Total | 123,595,586.63 | 79,874,066.51 |
(2)Presentaccordingtothemethodofprovisionforbaddebt
| Type(s) | ClosingBalance | ||||
| BookBalance | BadDebtProvision | BookValue | |||
| Amount | Ratio(%) | Amount | ProvisionRatio(%) | ||
| Separateprovisionforbaddebts | 328,259.50 | 0.27 | 328,259.50 | 100.00 | |
| Portfolioprovisionforbaddebts | 123,267,327.13 | 99.73 | 7,486,954.58 | 6.07 | 115,780,372.55 |
| Total | 123,595,586.63 | 7,815,214.08 | 115,780,372.55 | ||
(Continued)
| Type(s) | OpeningBalance | ||||
| BookBalance | BadDebtProvision | BookValue | |||
| Amount | Ratio(%) | ProvisionRatio(%) | |||
| Separateprovisionforbaddebts | 328,259.50 | 0.41 | 328,259.50 | 100.00 | |
| Portfolioprovisionforbaddebts | 79,545,807.01 | 99.59 | 2,488,360.15 | 3.13 | 77,057,446.86 |
| Total | 79,874,066.51 | —— | 2,816,619.65 | —— | 77,057,446.86 |
A.Separateprovisionforbaddebts
| Name | ClosingBalance | |||
| AccountsReceivable | BadDebtProvision | ProvisionRatio | ProvisionReason | |
| FujianJingxinIndustrialGroupCo.,Ltd | 151,844.00 | 151,844.00 | 100.00 | expectedunrecoverable |
| BeijingGuotaiPinganTianzhuCommercialDevelopmentCo.,Ltd. | 1,809.60 | 1,809.60 | 100.00 | expectedunrecoverable |
| BeijingRongfaLidaGrainandOilTradeCo.,Ltd. | 163,143.00 | 163,143.00 | 100.00 | expectedunrecoverable |
| BeijingGuotaiPinganDepartmentStoreCo.,Ltd | 10,862.90 | 10,862.90 | 100.00 | expectedunrecoverable |
| BeijingShunyiLonghuaShoppingMall | 600.00 | 600.00 | 100.00 | expectedunrecoverable |
| Total | 328,259.50 | 328,259.50 | —— | —— |
B.PortfolioprovisionforbaddebtsPortfolioprovisionItemsareasfollows:
| Name | ClosingBalance | ||
| Accountsreceivable | BadDebtProvision | ProvisionRatio | |
| CreditRiskPortfolio | 123,267,327.13 | 7,486,954.58 | 6.07 |
| Total | 123,267,327.13 | 7,486,954.58 | 6.07 |
(Continued)
| Name | OpeningBalance | ||
| Accountsreceivable | BadDebtProvision | ProvisionRatio | |
| CreditRiskPortfolio | 79,545,807.01 | 2,488,360.15 | 3.13 |
| Total | 79,545,807.01 | 2,488,360.15 | 3.13 |
(3)detailsofbaddebtprovision
| Items | OpeningBalance | Theamountchangedfortheperiod | ClosingBalance | |||
| Addition | Withdrawalorreversal | Write-off | Otherchanges | |||
| Baddebtprovisiononindividualbasis | 328,259.50 | 127,412.16 | 127,412.16 | 328,259.50 | ||
| Creditimpairmentloss | 2,488,360.15 | 4,998,594.43 | 7,486,954.58 | |||
| Total | 2,816,619.65 | 5,126,006.59 | 127,412.16 | 7,815,214.08 | ||
(4)Accountsreceivableactuallywrittenoffinthecurrentperiod
| Items | Write-offamount |
| Actualwrite-offofaccountsreceivable | 127,412.16 |
(5)AcountsReceivableoftheTop5BalancesCollectedbyDebtorsandcontractualassetssituationsattheEndofthePeriod
| NameofEntity | Accountsreceivable | ContractAssetsEndingBalance | EndingBalanceofReceivablesandContractAssets | ProportionofEndingBalanceofReceivablesandContractAssets(%) | BadDebtProvision |
| NanhaiOil&Grease(Chiwan)Co.,Ltd. | 42,571,623.60 | 42,571,623.60 | 34.44 | ||
| TangshanCaofeidianDistrictFinanceBureau | 25,997,336.04 | 25,997,336.04 | 21.03 | 7,449,311.22 | |
| ZhejiangLvqinSupplyChainManagementCo.,Ltd | 8,306,036.47 | 8,306,036.47 | 6.72 | ||
| BeijingYanguGrease&OilpurchaseandsaleCo.,Ltd. | 6,587,142.65 | 6,587,142.65 | 5.33 | ||
| HebeiLuanpingHuaduFoodCo.,Ltd | 3,619,958.60 | 3,619,958.60 | 2.93 | ||
| Total | 87,082,097.36 | 87,082,097.36 | 70.45 | 7,449,311.22 |
Note:NanhaiOil&Grease(Chiwan)Co.,Ltd,hasreceivedRmb42,571,623.60ofreceivablesinthisperiodinJan2024
5.AccountsreceivableFinancing
(1)Presentedandsortedbycategory
| Item | ClosingBalance | OpeningBalance |
| Notesreceivable | 2,502,308.90 | |
| Total | 2,502,308.90 |
(2)Theendingnotesreceivablethathavebeenendorsedordiscountedandnotexpiredonbalancesheetdate.
| Item | Amountderecognizedasattheendofthereportingperiod | Amountnotderecognizedasattheendofthereportingperiod. |
| Banker'sAcceptance | 23,902,737.88 | |
| Total | 23,902,737.88 |
6.AdvancedPayment
(1)Advancesarepresentedbyage
| Aging | ClosingBalance | OpeningBalance | ||
| Amount | Ratio(%) | Amount | Ratio(%) | |
| Within1year(including1year) | 87,352,234.48 | 100.00 | 194,490,369.48 | 100.00 |
| 1to2years(including2years) | 5,278.58 | |||
| Total | 87,352,234.48 | 100.00 | 194,495,648.06 | 100.00 |
(2)AdvancepaymentofthetopfiveClosingBalancesbyprepaidobjects
| DebtorName | ClosingBalance | RatioofthetotalClosingBalanceofprepayments(%) |
| TianjinLingangCustomsofthePeople'sRepublicofChina | 35,030,503.37 | 40.10 |
| TuofuInternationalTrade(Shanghai)Co.Ltd. | 25,329,796.12 | 29.00 |
| LouisDreyfus(Tianjin)InternationalTradeCo.,Ltd | 9,095,649.83 | 10.41 |
| ChinaGrainsReserveZhenjiangGrainandOilCo.,Ltd | 8,192,403.18 | 9.38 |
| JiangsuJianghaiGrease&OilGroupCo.Ltd. | 5,106,000.00 | 5.85 |
| Total | 82,754,352.50 | 94.74 |
7.OtherReceivables
| Item(s) | ClosingBalance | OpeningBalance |
| OtherReceivables | 303,099,589.59 | 444,523,698.48 |
| Total | 303,099,589.59 | 444,523,698.48 |
(1)OtherReceivablesA.Disclosedaccordingtoaging
| Aging | ClosingBalance | OpeningBalance |
| Within1Year(including1year) | 301,234,542.67 | 435,828,243.19 |
| 1to2years(including2years) | 641,412.67 | 7,333,429.30 |
| 2to3years(including3years) | 144,888.00 | 741,388.00 |
| 3to4years(including4years) | 459,888.00 | 88,638.00 |
| 4to5years(including5years) | 88,638.00 | 101,999.99 |
| Morethan5years | 531,999.99 | 430,000.00 |
| Total | 303,101,369.33 | 444,523,698.48 |
B.Classificationofotherreceivablesbynatureoffunds
| NatureofFunds | BookBalanceatEndofPeriod | BookBalanceatBeginningofYear |
| DepositandGuaranteedDeposit | 301,372,189.38 | 436,908,577.53 |
| IntercourseFundsofUnits | 502,432.60 | 5,728,584.30 |
| EmployeeReceivables | 840,868.84 | 1,051,023.02 |
| TaxRefundReceivables | 548,483.77 | |
| Others | 385,878.51 | 287,029.86 |
| Total | 303,101,369.33 | 444,523,698.48 |
C.Detailsaboutallowanceforbaddebt
| Provisionforbaddebt | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossforthewholeperiod(nocreditimpairment) | Expectedcreditlossforthewholeperiod(withcreditimpairment) | ||
| Amounton1stJanuary2023 | ||||
| Carryingamounton1stJanuary2023thatinthisperiod: | ||||
| ——GetintoStage2 | ||||
| ——GetintoStage3 | ||||
| ——GetbacktoStage2 |
| Provisionforbaddebt | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossforthewholeperiod(nocreditimpairment) | Expectedcreditlossforthewholeperiod(withcreditimpairment) | ||
| ——GetbacktoStage1 | ||||
| Provisionfortheperiod | 1,779.74 | 1,779.74 | ||
| Reversefortheperiod | ||||
| Transferfortheperiod | ||||
| Writeofffortheperiod | ||||
| Otherchanges | ||||
| Amounton31stDecember2023 | 1,779.74 | 1,779.74 |
D.Detailsofbaddebtprovision
| Type | Carryingamountatthebeginning | Amountchangesfortheperiod | Carryingamountattheend | |||
| Addition | Withdrawalorreversal | Write-off | Otherchanges | |||
| Creditimpairmentloss | 1,779.74 | 1,779.74 | ||||
| Total | 1,779.74 | 1,779.74 | ||||
E.Otherreceivablesaccordingtotopfiveofbalanceatendofperiodcollectedbydebtors
| NameofOrganization | BalanceatEndofPeriod | ProportioninoverallClosingBalanceofotherreceivables(%) | NatureofFunds | Aging | ClosingBalanceofbaddebtreserves |
| ZhongtianFuturesCo.Ltd | 149,616,973.10 | 49.36 | Futuresmargin | Within1year | |
| R.J.O’Brien&Associates,LLC | 60,753,187.26 | 20.04 | Futuresmargin | Within1year | |
| HaitongFuturesCo.,Ltd | 60,223,948.50 | 19.87 | Futuresmargin | Within1year | |
| BeijingCapitalFuturesCo.,Ltd | 18,094,235.00 | 5.97 | Futuresmargin | Within1year | |
| SDICCapitalCo.,Ltd. | 8,050,064.90 | 2.66 | Futuresmargin | Within1year | |
| Total | 296,738,408.76 | 97.90 |
8.Inventory
(1)InventoryCategory
| Items | ClosingBalance |
| BookBalance | InventoryFallingPriceReserves/Provisionforimpairmentofcontractperformancecost. | BookValue | |
| RawMaterials | 324,815,755.86 | 82,063.38 | 324,733,692.48 |
| Inventorygoods | 1,122,785,703.06 | 1,743,754.31 | 1,121,041,948.75 |
| RevolvingMaterials | 5,049,542.63 | 5,049,542.63 | |
| Goodsandmaterialsintransit | 591,034,959.25 | 591,034,959.25 | |
| Total | 2,043,685,960.80 | 1,825,817.69 | 2,041,860,143.11 |
(Continued)
| Items | OpeningBalance | ||
| BookBalance | InventoryFallingPriceReserves/Provisionforimpairmentofcontractperformancecost. | BookValue | |
| RawMaterials | 445,721,945.85 | 4,599.51 | 445,717,346.34 |
| Inventorygoods | 1,081,693,725.26 | 44,208,166.31 | 1,037,485,558.95 |
| Oilreserve | 248,197,500.00 | 248,197,500.00 | |
| RevolvingMaterials | 5,267,896.63 | 5,267,896.63 | |
| Goodsandmaterialsintransit | 337,276,381.65 | 337,276,381.65 | |
| Total | 2,118,157,449.39 | 44,212,765.82 | 2,073,944,683.57 |
(2)InventoryFallingPriceReservesandprovisionforimpairmentofcontractperformancecosts
| Items | BalanceatBeginningofYear | IncreasedAmountsintheCurrentPeriod | |
| Accrual | Others | ||
| Rawmaterial | 4,599.51 | 82,063.38 | |
| StockGoods | 44,208,166.31 | 29,104,942.87 | |
| Intotal | 44,212,765.82 | 29,187,006.25 | |
(Continued)
| Items | DecreasedAmountsintheCurrentPeriod | BalanceatEndofPeriod | |
| RecoverorChargeOff | Others | ||
| Rawmaterial | 4,599.51 | 82,063.38 | |
| StockGoods | 71,569,354.87 | 1,743,754.31 | |
| Intotal | 71,573,954.38 | 1,825,817.69 | |
(3)StockGoodslistedbymajorproducttype
| Items | ClosingBalance | ||
| BookBalance | FallingPriceReserves | BookValue | |
| Greaseandoils | 1,097,527,087.36 | 1,598,094.34 | 1,095,928,993.02 |
| Food | 25,258,615.70 | 145,659.97 | 25,112,955.73 |
| Total | 1,122,785,703.06 | 1,743,754.31 | 1,121,041,948.75 |
(Continued)
| Items | OpeningBalance | ||
| BookBalance | FallingPriceReserves | BookValue | |
| Greaseandoils | 1,048,142,485.94 | 44,023,263.60 | 1,004,119,222.34 |
| Food | 33,551,239.32 | 184,902.71 | 33,366,336.61 |
| Total | 1,081,693,725.26 | 44,208,166.31 | 1,037,485,558.95 |
9.Non-currentassetsduewithinoneyear
| Items | BalanceatEndofPeriod | BalanceatBeginningofPeriod |
| One-yeartermdeposits | 22,188,083.34 | 148,387,894.16 |
| Intotal | 22,188,083.34 | 148,387,894.16 |
10.OtherCurrentAssets
| Items | BalanceatEndofPeriod | BalanceatBeginningofPeriod |
| PendingDeductVATInputTax | 57,549,582.61 | 45,572,085.33 |
| Pre-paidTaxesandFees | 16,226,031.95 | 15,477,676.61 |
| InputTaxtoBeCertified | 202,103.63 | |
| FairValueChangesofItemsTrappedatHedging | 238,358,924.24 | 165,881,137.81 |
| FinancialProducts | 405,999,000.00 | |
| Intotal | 312,336,642.43 | 632,929,899.75 |
11.Long-termEquityInvestment
Details
| InvestedEntity | BalanceatBeginningofYear | IncreaseorDecreaseintheCurrentPeriod | ||||
| AdditionalInvestment | NegativeInvestment | ConfirmedProfitandLossonInvestmentunderEquityMethod | Adjustmentofothercomprehensiveincome | Otherchangesinequity | ||
| 1.CooperativeEnterprise | 121,605,419.10 | 6,788,124.16 | ||||
| BeijingCHIATAIFeedmillCo.,Limited | 121,605,419.10 | 6,788,124.16 | ||||
| Sub-total | 121,605,419.10 | 6,788,124.16 | ||||
| 2.JointVenture | 121,948,497.88 | 4,580,604.27 | ||||
| ChinaGrainReserves(Tianjin)WarehouseLogisticsCo.,Ltd. | 115,506,829.06 | 4,670,106.47 | ||||
| JingliangMissmeCateringManagement(Beijing)Co.,Ltd. | 6,441,668.82 | -89,502.20 | ||||
| Sub-total | 121,948,497.88 | 4,580,604.27 | ||||
| Total | 243,553,916.98 | 11,368,728.43 | ||||
(Continued)
| investedentity | IncreaseorDecreaseintheCurrentPeriod | BalanceatEndofPeriod | ClosingBalanceofImpairmentReserves | ||
| AnnouncetoDistributeCaseDividendsorProfits | AccrualofImpairmentReserves | Others | |||
| 1.CooperativeEnterprise | 128,393,543.26 | ||||
| BeijingCHIATAIFeedmillCo.,Limited | 128,393,543.26 | ||||
| Sub-total | 128,393,543.26 | ||||
| 2.JointVenture | 126,529,102.15 | ||||
| ChinaGrainReserves(Tianjin)WarehouseLogisticsCo.,Ltd. | 120,176,935.53 | ||||
| JingliangMissmeCateringManagement(Beijing)Co.,Ltd. | 6,352,166.62 | ||||
| Sub-total | 126,529,102.15 | ||||
| Total | 254,922,645.41 | ||||
12.Otherequityinstrumentsinvestment
Details
| Item | OpeningBalance | ChangesintheCurrentPeriod | ClosingBalance | ||||
| AdditionalInvestment | Disinvestment | Profitsincludedinothercomprehensiveincomeinthecurrentperiod. | Lossesincludedinothercomprehensiveincomeinthecurrentperiod. | Others | |||
| ChongqinglongjinbaonetworktechnologyCo.LTD | 20,000,000.00 | 20,000,000.00 | |||||
| Total | 20,000,000.00 | 20,000,000.00 | |||||
(Continued)
| Item | Dividendrevenuerecognizedincurrentperiod | .Accumulatedprofitrecognizedinothercomprehensiveincome | .Accumulatedlossesrecognizedinothercomprehensiveincome | DesignatedatFairValueMeasurementandReasonsonChangesincludedinOtherComprehensiveIncome |
| ChongqinglongjinbaonetworktechnologyCo.LTD | Non-tradingequityinstrument | |||
| Total | / |
13.InvestmentRealEstate
(1)InvestmentRealEstateAdoptingCostMeasurementModel
| Items | Buildings | LandUseRight | Total |
| One.OriginalBookValue | |||
| 1.BalanceatBeginningofYear | 54,691,581.60 | 54,691,581.60 | |
| 2.IncreasedAmountsintheCurrentPeriod | 9,000,432.40 | 576,510.00 | 9,576,942.40 |
| —Inventory\FixedAssetsConstructioninprogresstransferredinto | 9,000,432.40 | 576,510.00 | 9,576,942.40 |
| 3.DecreasedAmountsintheCurrentPeriod | 846,780.00 | 846,780.00 | |
| —BusinessCombinationDecreasion | 846,780.00 | 846,780.00 | |
| 4.BalanceatEndofPeriod | 62,845,234.00 | 576,510.00 | 63,421,744.00 |
| Two.AccumulatedImpairmentandAccumulatedAmortization | |||
| 1.BalanceatBeginningofYear | 24,298,508.66 | 24,298,508.66 | |
| 2.IncreasedAmountsintheCurrentPeriod | 8,689,044.37 | 208,504.45 | 8,897,548.82 |
| —AccrualorAmortization | 1,702,684.23 | 6,725.95 | 1,709,410.18 |
| —Others | 6,986,360.14 | 201,778.50 | 7,188,138.64 |
| 3.DecreasedAmountsintheCurrentPeriod | 407,613.95 | 407,613.95 | |
| —BusinessCombinationDecreasion | 407,613.95 | 407,613.95 | |
| 4.BalanceatEndofPeriod | 32,579,939.08 | 208,504.45 | 32,788,443.53 |
| Three.ImpairmentReserves | |||
| 1.BalanceatBeginningofYear | 10,587,796.70 | 10,587,796.70 | |
| 2.BalanceatEndofPeriod | 10,587,796.70 | 10,587,796.70 | |
| Four.BookValue | |||
| 1.BookValueatEndofPeriod | 19,677,498.22 | 368,005.55 | 20,045,503.77 |
| 2.BookValueatBeginningofYear | 19,805,276.24 | 19,805,276.24 |
14.FixedAssets
| Items | BalanceatEndofPeriod | BalanceatBeginningofPeriod |
| FixedAssets | 939,548,012.91 | 1,047,451,810.24 |
| DisposalofFixedAssets | ||
| Intotal | 939,548,012.91 | 1,047,451,810.24 |
FixedAssetsSituation
| Items | Buildings | MachineryEquipment | TransportationEquipment | ElectronicEquipment | OfficeEquipment | Others | Total |
| One.OriginalBookValue | |||||||
| 1.BalanceatBeginningofYear | 1,122,769,627.81 | 804,825,222.53 | 20,457,864.28 | 13,030,802.85 | 7,221,945.92 | 1,437,635.89 | 1,969,743,099.28 |
| 2.IncreasedAmountsintheCurrentPeriod | 13,492,760.23 | 34,348,380.82 | 3,341,783.38 | 2,677,081.72 | 2,699,311.67 | 211,496.30 | 56,770,814.12 |
| (1)Purchase | 6,616,186.68 | 21,083,983.65 | 3,341,783.38 | 2,506,949.77 | 2,689,711.67 | 211,496.30 | 36,450,111.45 |
| (2)Roll-inofProjectunderConstruction | 6,876,573.55 | 13,264,397.17 | 170,131.95 | 9,600.00 | 20,320,702.67 | ||
| 3.DecreasedAmountsintheCurrentPeriod | 71,704,340.83 | 43,713,280.78 | 3,725,216.59 | 1,574,116.98 | 2,375,464.06 | 264,054.76 | 123,356,474.00 |
| (1)DisposalorScrap | 336,775.12 | 11,695,050.45 | 3,192,236.39 | 599,483.37 | 1,070,063.61 | 16,893,608.94 | |
| DecreasiononBusinessCombinationScope | 62,345,633.31 | 26,556,104.58 | 532,980.20 | 767,199.98 | 206,175.15 | 264,054.76 | 90,672,147.98 |
| Othertransferredout | 9,021,932.40 | 5,462,125.75 | 207,433.63 | 1,099,225.30 | 15,790,717.08 | ||
| 4.BalanceatEndofPeriod | 1,064,558,047.21 | 795,460,322.57 | 20,074,431.07 | 14,133,767.59 | 7,545,793.53 | 1,385,077.43 | 1,903,157,439.40 |
| Items | Buildings | MachineryEquipment | TransportationEquipment | ElectronicEquipment | OfficeEquipment | Others | Total |
| Two.AccumulatedImpairment | |||||||
| 1.BalanceatBeginningofYear | 417,797,356.22 | 465,777,890.41 | 13,737,392.56 | 9,541,958.53 | 5,801,480.29 | 515,147.41 | 913,171,225.42 |
| 2.IncreasedAmountsintheCurrentPeriod | 39,733,621.12 | 50,331,349.23 | 1,512,158.81 | 1,491,361.67 | 665,545.62 | 45,188.19 | 93,779,224.64 |
| (1)Accrual | 39,733,621.12 | 50,331,349.23 | 1,512,158.81 | 1,491,361.67 | 665,545.62 | 45,188.19 | 93,779,224.64 |
| 3.DecreasedAmountsintheCurrentPeriod | 16,833,102.08 | 28,421,410.95 | 3,397,200.44 | 1,438,172.21 | 2,161,861.85 | 209,339.66 | 52,461,087.19 |
| (1)DisposalorScrap | 317,515.91 | 10,089,700.58 | 3,103,312.42 | 569,189.09 | 1,007,828.57 | 15,087,546.57 | |
| DecreasiononBusinessCombinationScope | 9,516,529.34 | 13,629,565.20 | 293,888.02 | 671,921.17 | 121,719.73 | 209,339.66 | 24,442,963.12 |
| Othertransferredout | 6,999,056.83 | 4,702,145.17 | 197,061.95 | 1,032,313.55 | 12,930,577.50 | ||
| 4.BalanceatEndofPeriod | 440,697,875.26 | 487,687,828.69 | 11,852,350.93 | 9,595,147.99 | 4,305,164.06 | 350,995.94 | 954,489,362.87 |
| Three.ImpairmentReserves | |||||||
| 1.BalanceatBeginningofYear | 9,047,959.13 | 72,104.49 | 9,120,063.62 | ||||
| 4.BalanceatEndofPeriod | 9,047,959.13 | 72,104.49 | 9,120,063.62 | ||||
| Four.BookValue | |||||||
| 1.BookValueatEndofPeriod | 614,812,212.82 | 307,700,389.39 | 8,222,080.14 | 4,538,619.60 | 3,240,629.47 | 1,034,081.49 | 939,548,012.91 |
| 2.BookValueatBeginningofYear | 695,924,312.46 | 338,975,227.63 | 6,720,471.72 | 3,488,844.32 | 1,420,465.63 | 922,488.48 | 1,047,451,810.24 |
15.ProjectunderConstruction
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| ProjectunderConstruction | 59,094,902.29 | 22,695,003.52 |
| Total | 59,094,902.29 | 22,695,003.52 |
(1)ProjectunderConstructionA.SituationofProjectunderConstruction
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||||
| BookBalance | ImpairmentReserves | BookValue | BookBalance | ImpairmentReserves | BookValue | |
| Caofeidiancomprehensivebondedzonefeedprocessingprojectautomationlineproject | 7,773,303.43 | 7,773,303.43 | 5,224,681.81 | 5,224,681.81 | ||
| Soybeanextrudingandrumensoybeanmealprocessingproject | 23,078,937.34 | 23,078,937.34 | 1,618,517.50 | 1,618,517.50 | ||
| productionlineoffriedpotatochips | 8,392,300.91 | 8,392,300.91 | ||||
| SlopetreatmentprojectofNo.3plant | 6,969,126.85 | 6,969,126.85 | 5,244,356.21 | 5,244,356.21 | ||
| The3rdrecreationfactorybakedpotatoNo.5FlexiblePackingAutomationLineTransformationProject | 2,556,466.47 | 2,556,466.47 | ||||
| The1strecreationfactorybakedpotatoNo.3FlexiblePackingAutomationLineTransformationProject | 2,497,033.51 | 2,497,033.51 | ||||
| The1strecreationfactorybakedpotatoNo.4FlexiblePackingAutomationLineTransformationProject | 1,619,325.55 | 1,619,325.55 | ||||
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||||
| BookBalance | ImpairmentReserves | BookValue | BookBalance | ImpairmentReserves | BookValue | |
| Odorcontrolproject | 1,585,321.11 | 1,585,321.11 | 792,660.56 | 792,660.56 | ||
| The3rdrecreationfactorybakedpotatoNo.8LineOvenTransformationProject | 1,240,093.10 | 1,240,093.10 | ||||
| Others | 3,382,994.02 | 3,382,994.02 | 9,814,787.44 | 9,814,787.44 | ||
| Total | 59,094,902.29 | 59,094,902.29 | 22,695,003.52 | 22,695,003.52 | ||
B.ChangeConditionofImportantEngineeringProjectsunderConstructionintheCurrentPeriod
| ProjectName | BudgetAmount | BalanceatBeginningofYear | IncreasedAmountsintheCurrentPeriod | Roll-inFixedAssetsAmountintheCurrentPeriod | OtherDecreasedAmountsintheCurrentPeriod | BalanceatEndofPeriod |
| Caofeidiancomprehensivebondedzonefeedprocessingprojectautomationline | 7,184,400.00 | 5,224,681.81 | 2,548,621.62 | 7,773,303.43 | ||
| Soybeanextrudingandrumensoybeanmealprocessingproject | 49,429,300.00 | 1,618,517.50 | 21,460,419.84 | 23,078,937.34 | ||
| Productionlineoffriedpotatochips | 9,700,000.00 | 8,392,300.91 | 8,392,300.91 | |||
| SlopetreatmentprojectofNo.3plant | 17,110,000.00 | 5,244,356.21 | 1,724,770.64 | 6,969,126.85 | ||
| JingliangHainanYangPuGrease&OilProcessingProject | 661,324,100.00 | 434,369.04 | 434,369.04 | |||
| Total | —— | 12,087,555.52 | 34,560,482.05 | 46,648,037.57 |
(Continued)
| ProjectName | ProportionofaccumulatedinputoftheprojectonBudgetedAmount(%) | ProgressoftheProject | AccumulatedAmountofInterestCapitalization | Including:InterestCapitalizationAmountoccurredinCurrentPeriod | InterestCapitalizationRateintheCurrentPeriod(%) | SourcesofCapital |
| Caofeidiancomprehensivebondedzonefeedprocessingprojectautomationline | 108.20 | 99.00% | EquityFund | |||
| Soybeanextrudingandrumensoybeanmealprocessingproject | 46.69 | 85.00% | EquityFund | |||
| Productionlineoffriedpotatochips | 86.52 | 50.00% | EquityFund | |||
| SlopetreatmentprojectofNo.3plant | 40.73 | 80.00% | EquityFund | |||
| JingliangHainanYangPuGrease&OilProcessingProject | 0.07 | 0.07% | EnterpriseSelf-funded | |||
| Total | —— | —— | —— | —— |
16.Right-of-useAssetDetails
| Items | Buildings | LandUseRight | TransportationEquipment | Intotal |
| OneOriginalBookValue | ||||
| 1.BalanceatBeginningofYear | 4,423,305.76 | 5,648,400.00 | 607,367.22 | 10,679,072.98 |
| 2.IncreasedAmountsintheCurrentPeriod | 117,043,974.80 | 117,043,974.80 | ||
| (1)Lease | 117,043,974.80 | 117,043,974.80 | ||
| 3.DecreasedAmountsintheCurrentPeriod | 435,493.80 | 435,493.80 | ||
| (1)Expirationoftheleaseorchangetheleaseterm | 435,493.80 | 435,493.80 | ||
| 4.BalanceatEndofPeriod | 121,031,786.76 | 5,648,400.00 | 607,367.22 | 127,287,553.98 |
| TwoAccumulatedDepreciation | ||||
| 1.BalanceatBeginningofYear | 2,733,787.38 | 903,744.00 | 73,115.40 | 3,710,646.78 |
| 2.IncreasedAmountsintheCurrentPeriod | 24,572,650.70 | 112,968.00 | 94,478.52 | 24,780,097.22 |
| (1)Accrual | 24,572,650.70 | 112,968.00 | 94,478.52 | 24,780,097.22 |
| 3.DecreasedAmountsintheCurrentPeriod | 435,493.80 | 435,493.80 | ||
| —Disposal | 202,742.29 | 202,742.29 | ||
| —OtherTransferredOut | 232,751.51 | 232,751.51 | ||
| 4.BalanceatEndofPeriod | 26,870,944.28 | 1,016,712.00 | 167,593.92 | 28,055,250.20 |
| ThreeImpairmentReserves | ||||
| FourBookValue | ||||
| 1.BookValueatEndofPeriod | 94,160,842.48 | 4,631,688.00 | 439,773.30 | 99,232,303.78 |
| 2.BookValueatBeginningofYear | 1,689,518.38 | 4,744,656.00 | 534,251.82 | 6,968,426.20 |
17.IntangibleAssets
IntangibleAssetsSituation
| Items | LandUseRight | Software | TrademarkRight | Intotal |
| OneOriginalBookValue | ||||
| 1.BalanceatBeginningofYear | 316,139,303.96 | 5,172,273.84 | 154,841,200.00 | 476,152,777.80 |
| 2.IncreasedAmountsintheCurrentPeriod | 113,371,253.98 | 198,141.60 | 113,569,395.58 | |
| (1)Purchase | 5,430,549.36 | 198,141.60 | 5,628,690.96 | |
| —Others | 107,940,704.62 | 107,940,704.62 | ||
| 3.DecreasedAmountsintheCurrentPeriod | 13,792,524.16 | 13,792,524.16 | ||
| —BusinessCombinationDecresion | 13,216,014.16 | 13,216,014.16 | ||
| —OtherTransferredOut | 576,510.00 | 576,510.00 | ||
| 4.BalanceatEndofPeriod | 415,718,033.78 | 5,370,415.44 | 154,841,200.00 | 575,929,649.22 |
| TwoAccumulatedAmortization | ||||
| 1.BalanceatBeginningofYear | 75,467,995.64 | 4,176,674.41 | 71,463,223.41 | 151,107,893.46 |
| 2.IncreasedAmountsintheCurrentPeriod | 7,360,055.85 | 231,859.56 | 7,713,925.84 | 15,305,841.25 |
| (1)Accrual | 7,360,055.85 | 231,859.56 | 7,713,925.84 | 15,305,841.25 |
| 3.DecreasedAmountsintheCurrentPeriod | 3,160,931.42 | 3,160,931.42 | ||
| —BusinessCombinationDecresion | 2,959,152.92 | 2,959,152.92 | ||
| —OtherTransferredOut | 201,778.50 | 201,778.50 | ||
| 4.BalanceatEndofPeriod | 79,667,120.07 | 4,408,533.97 | 79,177,149.25 | 163,252,803.29 |
| ThreeImpairmentReserves | ||||
| FourBookValue | ||||
| 1.BookValueatEndofPeriod | 336,050,913.71 | 961,881.47 | 75,664,050.75 | 412,676,845.93 |
| 2.BookValueatBeginningofYear | 240,671,308.25 | 995,599.43 | 83,377,976.66 | 325,044,884.34 |
18.Goodwill
(1)OriginalBookValueofGoodwill
| NameofInvestedEntityorItemsFormingGoodwill | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| FormedbyEnterpriseMerger | Disposal | |||
| AcquirestocksharesofZhejiangXiaowangziFoodCo.,Ltd. | 191,394,422.51 | 191,394,422.51 | ||
| Intotal | 191,394,422.51 | 191,394,422.51 |
(2)Relevantinformationaboutthegrouporgroupsofassetsthatincludegoodwill
| Name | CompositionandBasisofGroupofAssetsorGroupbelongs | OperationSegmentandBasisbelongs | WhetherconsistentwithPriorPeriod |
| AcquirestocksharesofZhejiangXiaowangziFoodCo.,Ltd. | GroupofAssetscomprisesofGoodwillrelatedassets，theflow-incashgeneratedshallbeindependentofthosebyothergroupassets. | Assetsmainlyusedfoodprocessing,belongtotheFoodProcessingSegment | Yes |
(3)ThemethodforthedeterminationoftherecoverableamountoftheassetgroupTherecoverableamountsdeterminedaccordingtothecurrentvalueoffuturecashflowsaspredictedbytheassetgroup
MonetaryinRMB10,000Yuan
| Item | BookValue | RecoverableAmount | AssetDevaluationAmount | PeriodofForecast | KeyParametersofForecastPeriod | KeyParameteroftheStablePeriod | RecognitionBasisfortheKeyParametersofStablePeriod |
| AcquirestocksharesofZhejiangXiaowangziFoodCo.,Ltd | 75,383.59 | 76,266.12 | Year2024toYear2027 | AverageRevenueincreaserateofForecastPeriodis3.11%,Pre-taxDiscountRateis16.77% | RevenueIncreaserateis0%duringthestableperiod,pre-taxdiscountrateis16.77% | Pre-taxdiscountraterecognizedbasedonRisk-freerateofreturn,MarketRiskpremium,riskcoefficient,CostofEquityCapitalandIncomeTaxRate | |
| Total | 75,383.59 | 76,266.12 | —— | —— | —— | —— |
19.Long-termUnamortizedExpenses
| Items | BalanceatBeginningofYear | IncreasedAmountsintheCurrentPeriod | AmortizedAmountsintheCurrentPeriod | OtherDecreasedAmounts | BalanceatEndofPeriod |
| Reconstructionofmajuqiaoplant | 13,539,943.97 | 674,188.08 | 12,865,755.89 | ||
| Maintenanceofleasedassets | 2,230,677.31 | 145,301.88 | 2,085,375.43 | ||
| Factorycompartmentmaintenance | 516,335.99 | 409,466.67 | 165,190.24 | 760,612.42 | |
| Housingrenovation | 649,010.65 | 1,956,777.35 | 661,794.92 | 1,943,993.08 | |
| Total | 16,935,967.92 | 2,366,244.02 | 1,646,475.12 | 17,655,736.82 |
20.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
(1)DeferredIncomeTaxAssetsNotBeingOffset
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||
| DeductibleTemporaryDifference | DeferredIncomeTaxAssets | DeductibleTemporaryDifference | DeferredIncomeTaxAssets | |
| AssetImpairmentReserves | 1,906,843.70 | 476,710.92 | 44,268,191.21 | 11,067,047.80 |
| DeductibleLoss | 190,924,419.06 | 47,731,104.76 | 1,383,480.84 | 345,870.21 |
| Leaseliabilities | 95,982,927.96 | 23,995,732.00 | 167,668.58 | 41,917.15 |
| CreditimpairmentLoss | 7,816,993.82 | 1,954,248.46 | 3,811,842.32 | 952,960.58 |
| DeferredIncome | 12,600,638.84 | 3,150,159.71 | 11,824,538.36 | 2,956,134.59 |
| Wagespayable | 5,677,134.00 | 1,419,283.50 | 5,677,134.00 | 1,419,283.50 |
| ValuationofFinancialInstrumentsandDerivativeFinancialInstruments | 12,433,441.20 | 3,108,360.30 | 211,060.00 | 52,765.00 |
| Rebateoncontracts | 1,112,100.00 | 278,025.00 | 3,215,300.44 | 803,825.11 |
| Intotal | 328,454,498.58 | 82,113,624.65 | 70,559,215.75 | 17,639,803.94 |
(2)DetailsofDeferredIncomeTaxLiabilitiesNotBeingOffset
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||
| TaxableTemporaryDifference | DeferredIncomeTaxLiabilities | TaxableTemporaryDifference | DeferredIncomeTaxLiabilities | |
| ValuationofFinancialInstrumentsandDerivativeFinancialInstruments | 252,306,904.70 | 63,076,726.18 | 54,719,042.81 | 13,679,760.70 |
| Valuationandappreciationofassetsinmergerofenterprisesnotunderthesamecontrol | 135,119,584.58 | 33,779,896.15 | 144,667,350.88 | 36,166,837.72 |
| Userightassets | 94,160,842.48 | 23,540,210.63 | 34,449.15 | 8,612.29 |
| Total | 481,587,331.76 | 120,396,832.96 | 199,420,842.84 | 49,855,210.71 |
(3)DetailsofDeferredIncomeTaxLiabilitiesafterOffset
| Items | Offsetamountofdeferredtaxassetsandliabilities | Carryingamountafteroffsettingbetweendeferredtaxassetsandliabilities | offsetamountofdeferredtaxassetsandliabilitiesattheendoflastperiod | Carryingamountafteroffsettingbetweendeferredtaxassetsandliabilitiesattheendoflastperiod |
| Deferredtaxasset | 73,314,709.43 | 8,798,915.22 | 3,450,040.01 | 14,189,763.93 |
| Deferredtaxliabilities | 73,314,709.43 | 47,082,123.53 | 3,450,040.01 | 46,405,170.70 |
(4)DetailsofDeferredIncomeTaxAssetsNotBeingConfirmed
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Deductibletemporarydifferences | 19,626,834.31 | 19,626,834.31 |
| DeductibleLoss | 243,290,588.25 | 183,422,192.19 |
| Intotal | 262,917,422.56 | 203,049,026.50 |
(5)Deductiblelossondeferredincometaxassetsnotbeingconfirmedwillbedueatthefollowingyears
| Year | BalanceatEndofPeriod | BalanceatBeginningofYear | Notes |
| 2023 | —— | 9,688,448.81 | |
| 2024 | 38,012,198.48 | 47,153,825.45 | |
| 2025 | 25,114,592.05 | 25,114,592.05 | |
| 2026 | 37,744,225.64 | 37,836,385.00 | |
| 2027 | 63,628,940.88 | 63,628,940.88 | |
| 2028 | 78,790,631.20 | ||
| Total | 243,290,588.25 | 183,422,192.19 | —— |
21.OtherNon-currentAssets
| Items | ClosingBalance | OpeningBalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| softwarepurchaseadvancement | 2,833,950.00 | 2,833,950.00 | ||||
| Three-yeartermdeposit | 10,390,000.00 | 10,390,000.00 | 53,544,782.34 | 53,544,782.34 | ||
| Total | 13,223,950.00 | 13,223,950.00 | 53,544,782.34 | 53,544,782.34 | ||
22.Assetitemswheretheownershiportherightofuseisrestricted
| Items | EndingBalance | |||
| Bookbalance | Bookvalue | Restrictedtype' | Constraints | |
| Cashandcashequivalents | 2,746,671.91 | 2,746,671.91 | Banker'sletterofguaranteedepositetc. | Banker'sletterofguaranteedepositetc. |
| FixedAssets | 21,719,189.02 | 4,994,664.88 | Freezingamountduetolawsuit | Freezingamountduetolawsuit |
| InvestmentRealEstates | 19,594,735.46 | 5,198,514.17 | Feezingamountduetolawsuit | Feezingamountduetolawsuit |
| Intotal | 44,060,596.39 | 12,939,850.96 | / | / |
(Continued)
| Item | BeginningBalance | |||
| Bookbalance | Bookvalue | Restrictedtype' | Constraints | |
| Cashandcashequivalents | 9,573,999.69 | 9,573,999.69 | Foreignexchangederivativesdeposit | Foreignexchangederivativesdeposit |
| FixedAssets | 21,719,189.02 | 5,408,424.76 | Freezingamountduetolawsuit | Freezingamountduetolawsuit |
| InvestmentRealEstates | 19,594,735.46 | 5,539,676.69 | Freezingamountduetolawsuit | Freezingamountduetolawsuit |
| Intotal | 50,887,924.17 | 20,522,101.14 | / | / |
23.Short-termBorrowings
ClassificationofShort-termBorrowings
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| FiduciaryLoan | 1,163,479,691.67 | 1,260,543,148.81 |
| Intotal | 1,163,479,691.67 | 1,260,543,148.81 |
24.Derivativefinancialliability
| Item | ClosingBalance | OpeningBalance |
| Changesinfairvalueofhedginginstruments | 15,805,393.88 | 111,373,155.00 |
| Total | 15,805,393.88 | 111,373,155.00 |
25.Notespayable
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Banker'sacceptance | 3,331,333.80 | |
| Intotal | 3,331,333.80 |
26.AccountsPayable
AccountsPayablePresentation
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| MaterialFundsPayable | 67,912,958.96 | 99,975,435.40 |
| ProjectFundsPayable | 3,013,449.11 | 4,362,006.50 |
| EquipmentFundsPayable | 3,002,660.91 | 284,311.31 |
| ConsultancyServices | 3,283,467.22 | 2,540,367.22 |
| RentalFee | 650,000.00 | |
| StorageCharge | 2,752,000.00 | 2,568,000.00 |
| Others | 1,860,287.64 | 1,181,756.78 |
| Intotal | 82,474,823.84 | 110,911,877.21 |
27.Advancepayment
AdvancepaymentPresented
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Advancecollectionofrent | 1,075,801.34 | 922,982.41 |
| Intotal | 1,075,801.34 | 922,982.41 |
28.Contractliabilities
Classificationofcontractliabilities
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Loans | 411,012,990.81 | 285,555,581.80 |
| Services | 19,801.98 | |
| Others | 426.29 | |
| Intotal | 411,033,219.08 | 285,555,581.80 |
29.WagesPayable
(1)WagesPayablePresented
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| Short-termCompensation | 42,220,454.37 | 313,000,055.98 | 324,462,075.35 | 30,758,435.00 |
| After-serviceWelfare-SetupESPliabilities | 1,708,306.39 | 35,038,036.41 | 34,802,219.73 | 1,944,123.07 |
| DismissionWelfare | 630,487.11 | 630,487.11 | ||
| Intotal | 43,928,760.76 | 348,668,579.50 | 359,894,782.19 | 32,702,558.07 |
(2)Short-termCompensationPresented
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| 1.Wage,Bonus,AllowanceandSubsidy | 38,119,437.46 | 253,205,580.89 | 264,548,466.79 | 26,776,551.56 |
| 2.WelfareExpenseofEmployee | 6,920.00 | 8,700,155.00 | 8,688,375.00 | 18,700.00 |
| 3.SocialInsuranceExpense | 832,783.50 | 20,201,823.68 | 20,101,701.56 | 932,905.62 |
| Amongthem:MedicalInsurancePremiums | 750,291.67 | 18,690,378.95 | 18,577,252.35 | 863,418.27 |
| IndustrialInjuryInsurancePremiums | 66,211.98 | 1,171,666.66 | 1,184,226.92 | 53,651.72 |
| BirthInsurancePremiums | 16,279.85 | 339,778.07 | 340,222.29 | 15,835.63 |
| 4.HousingProvidentFunds | 146,594.49 | 17,134,890.70 | 17,166,487.70 | 114,997.49 |
| 5.LaborUnionExpenseandPersonnelEducationFund | 3,114,718.92 | 5,620,995.92 | 6,040,564.51 | 2,695,150.33 |
| 6、OtherShort-termwages | 8,136,609.79 | 7,916,479.79 | 220,130.00 | |
| Intotal | 42,220,454.37 | 313,000,055.98 | 324,462,075.35 | 30,758,435.00 |
(3)StatedDrawingsPlanPresented
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| 1.BasicPensionInsurance | 1,616,949.93 | 30,105,991.33 | 29,874,115.56 | 1,848,825.70 |
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| 2.UnemploymentInsuranceExpense | 42,937.75 | 997,640.80 | 991,003.76 | 49,574.79 |
| 3.EnterpriseAnnuityCharges | 48,418.71 | 3,934,404.28 | 3,937,100.41 | 45,722.58 |
| Total | 1,708,306.39 | 35,038,036.41 | 34,802,219.73 | 1,944,123.07 |
30.TaxesandFeesPayable
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| VAT | 1,535,814.90 | 18,489,749.05 |
| CorporateIncomeTax | 4,643,368.25 | 39,893,369.93 |
| UrbanMaintenanceandConstructionTax | 184,732.38 | 1,352,280.58 |
| HousePropertyTax | 2,317,671.84 | 2,316,064.99 |
| LandUseTax | 985,671.07 | 150,746.89 |
| IndividualIncomeTax | 1,655,912.41 | 2,331,343.41 |
| StampTax | 152,358.18 | 1,135,833.99 |
| EducationalSurtax(Includinglocaleducationalsurcharge) | 99,058.19 | 955,932.66 |
| Environmentalprotectiontax | 2,805.25 | 3,732.68 |
| Intotal | 11,577,392.47 | 66,629,054.18 |
31.OtherAccountsPayable
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| InterestPayable | 21,082,795.47 | 21,082,795.47 |
| DividendsPayable | 3,213,302.88 | 3,213,302.88 |
| OtherAccountsPayable | 55,322,100.43 | 59,703,587.21 |
| Intotal | 79,618,198.78 | 83,999,685.56 |
(1)InterestPayable
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| LoanInterestbetweenEnterprises | 21,082,795.47 | 21,082,795.47 |
| Intotal | 21,082,795.47 | 21,082,795.47 |
(2)DividendsPayable
(3)OtherAccountsPayableOtherAccountsPayablebyNatureofFundsPresented
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| IntercourseFundsofRelatedParties | 3,687,264.48 | 3,070,641.51 |
| GuaranteedDepositandDeposit | 27,614,619.18 | 18,847,429.40 |
| IntercourseFundsbetweenUnits | 9,684,592.82 | 23,301,024.10 |
| PersonalIntercourseFunds | 3,731,133.46 | 3,829,316.55 |
| VariousInsurancesofEmployee | 3,688,119.63 | 2,507,094.75 |
| StorageCharge | 2,832,948.18 | 4,432,553.96 |
| HebeiGreaseandOilGainsandLossesDivestmentduringtransition | 1,747,611.95 | |
| Others | 2,335,810.73 | 3,715,526.94 |
| Intotal | 55,322,100.43 | 59,703,587.21 |
32.Non-currentliabilitiesduewithinoneyear
| Item | Endbalance | OpeningBalance |
| Long-termLoansdueWithinOneYear | 150,000,000.00 | |
| LeaseLiabilitydueWithinOneYear | 22,741,185.39 | 1,432,706.14 |
| Long-termLoansInterestdueWithinOneYear | 319,763.89 | |
| BondInterestPayabledueWithinOneYear | 2,880,000.00 | |
| Total | 175,940,949.28 | 1,432,706.14 |
33.Othercurrentliability
| Item | Endbalance | OpeningBalance |
| Value-addedtaxtobewrittenoff | 45,928,019.48 | 55,982,706.18 |
| ChangesoftheFairValueoftheHedgedItem | 14,511,381.20 | 201,549.12 |
| Total | 60,439,400.68 | 56,184,255.30 |
Items
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Others | 3,213,302.88 | 3,213,302.88 |
| Intotal | 3,213,302.88 | 3,213,302.88 |
34.Longtermborrowing
| Item | Endbalance | OpeningBalance |
| Debtofhonour | 400,000,000.00 | 500,284,166.67 |
| Total | 400,000,000.00 | 500,284,166.67 |
35.Bondspayable
(1)Bondspayable
| Item | EndingBalance | OpeningBalance |
| CorporateBond | 298,800,000.00 | |
| Total | 298,800,000.00 |
(2)Bondpayablesituation(notincludingotherfinancialinstrumentsi.e.theFinancialLiabilitiespreferencesharesperpetuitiesetc)
| NameofBond | FaceValue | Couponrate(%) | ReleaseDate | BondPeriod | IssuingAmount | OpeningBalance | TheIssuance |
| 23Jingliang01CorporateBond | 300,000,000.00 | 2.88 | 21Aug-22Aug2023 | 3years | 300,000,000.00 | ||
| Total | ∕ | ∕ | ∕ | ∕ | 300,000,000.00 |
(Continued)
| NameofBond | Interestaccruedatfacevalue | AmortizationofPremiumsorDiscounts | RepaymentinthePeriod | OtherDirectFees | EndingBalance | Whetherindefault |
| 23Jingliang01CorporateBond | 2,880,000.00 | 1,200,000.00 | 301,680,000.00 | |||
| Total | 2,880,000.00 | 1,200,000.00 | 301,680,000.00 | ∕ |
36.Leaseliability
| Item | Endbalance | OpeningBalance |
| LeasePayment | 103,803,204.86 | 2,216,669.37 |
| Less:unrecognizedFinancingCost | 7,820,276.90 | 79,572.25 |
| Reclassifiedasnon-currentliabilitiesduewithinOneyear | 22,741,185.39 | 1,432,706.14 |
| NetLeaseLiabilities | 73,241,742.57 | 704,390.98 |
37.Longtermwagepayable
Long-termwagepayablepresented
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| OtherLong-termWelfare | 5,677,134.00 | 5,677,134.00 |
| Intotal | 5,677,134.00 | 5,677,134.00 |
38.DeferredIncome
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod | CauseofFormation |
| GovernmentSubsidy | 64,550,917.36 | 1,304,400.00 | 3,352,060.69 | 62,503,256.67 | |
| Intotal | 64,550,917.36 | 1,304,400.00 | 3,352,060.69 | 62,503,256.67 |
Amongthem,itemsinvolvinggovernmentsubsidyareasfollows:
| ItemsReceivingSubsidy | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | ChargetootherProfits | Amountrolledinnon-operatingincomeinthecurrentperiod. | RefundinthisPeriod | OtherChanges | BalanceatEndofPeriod | ReasonsonRefund | Assetrelated/incomerelated |
| EdibleOilRenewableCleanProductionEquipmentandOilTankElectricHeatingSystemProject | 167,999.72 | 56,000.04 | 111,999.68 | Assetsrelated | |||||
| Grain&Oilprocessingkeytechnologyresearchandindustrializationproject,formingfixedassets | 622,710.56 | 77,838.84 | 544,871.72 | Assetsrelated | |||||
| Informationmonitoringequipment | 232,373.66 | 200,686.32 | 31,687.34 | Assetsrelated | |||||
| TianjinBinhaiNewZoneindustrializedtechnologicaltransformationandzoneconstructionfundandscientifictechnologyexpenses | 1,648,147.97 | 222,222.24 | 1,425,925.73 | Assetsrelated | |||||
| Enterprisefoundation | 47,374,115.29 | 1,277,504.16 | 46,096,611.13 | Assetsrelated |
| ItemsReceivingSubsidy | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | ChargetootherProfits | Amountrolledinnon-operatingincomeinthecurrentperiod. | RefundinthisPeriod | OtherChanges | BalanceatEndofPeriod | ReasonsonRefund | Assetrelated/incomerelated |
| supportingintheconstructionstageof"TianjinLingangIndustrialZoneManagementCommittee" | |||||||||
| SubsidizedbyBeijingMunicipalFoodandStrategicReservesBureaufor"TankExpansionandWinterizationRenovationProject | 2,522,657.94 | 250,180.91 | 2,272,477.03 | Assetsrelated | |||||
| Therelocationcompensation | 3,462,874.32 | 384,763.82 | 3,078,110.50 | Assetsrelated | |||||
| Specialsubsidyforinfrastructureinvestment | 8,520,037.90 | 1,304,400.00 | 851,177.02 | 8,973,260.88 | Assetsrelated | ||||
| Intotal | 64,550,917.36 | 1,304,400.00 | 3,320,373.35 | 31,687.34 | 62,503,256.67 | —— | —— |
39.ShareCapital
| Items | BalanceatBeginningofYear | ChangesintheCurrentPeriod(+、-) | BalanceatEndofPeriod | ||||
| NewShareIssue | ShareDonation | ShareTransferofProvidentFund | Others | Sub-total | |||
| 1.ShareswithRestrictedConditions | 41,159,887.00 | -10,289,972.00 | -10,289,972.00 | 30,869,915.00 | |||
| (1)StateShareholding | |||||||
| (2)State-ownedLegal-personShareholding | |||||||
| (3)OtherDomesticCapitalShareholding | 41,159,887.00 | -10,289,972.00 | -10,289,972.00 | 30,869,915.00 | |||
| Including:DomesticLegal-personShareholding | |||||||
| DomesticNaturalPersonShareholding | 41,159,887.00 | -10,289,972.00 | -10,289,972.00 | 30,869,915.00 | |||
| (4)ForeignShareholding | |||||||
| Including:ForeignLegal-personShareholding | |||||||
| ForeignNaturalPersonShareholding | |||||||
| 2.TradableShareswithoutRestrictedConditions | 685,790,364.00 | 10,289,972.00 | 10,289,972.00 | 696,080,336.00 | |||
| (1)RMBOrdinaryShares | 620,815,364.00 | 10,289,972.00 | 10,289,972.00 | 631,105,336.00 | |||
| (2)DomesticallyListedForeignShares | 64,975,000.00 | 64,975,000.00 | |||||
| (3)ListedForeignSharesOverseas | |||||||
| (4)Others | |||||||
| Intotal | 726,950,251.00 | 726,950,251.00 | |||||
40.CapitalReserves
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| CapitalPremium(StockPremium) | 1,322,887,986.38 | 1,322,887,986.38 | ||
| CapitalReservesRoll-inUnderOriginalSystem | 112,316,357.36 | 112,316,357.36 | ||
| OtherCapitalReserves | 243,474,007.21 | 3,129,757.12 | 246,603,764.33 | |
| Intotal | 1,678,678,350.95 | 3,129,757.12 | 1,681,808,108.07 |
41.OtherComprehensiveIncomes
| Items | BalanceatBeginningofYear | AmountsOccurredintheCurrentPeriod | BalanceatEndofPeriod | |||||
| AmountsOccurredbeforeIncomeTaxintheCurrentPeriod | Less:OtherComprehensiveIncomesChargedatEarlierStageandCurrentRoll-inProfitandLoss | Less:includedinothercomprehensiveincomeinthepreviousperiodandtransferredtoretainedincomeinthecurrentperiod | Less:IncomeTaxExpense | AttributabletoParentCompanyAfterTax | AttributabletoMinorityShareholdersAfterTax | |||
| OneOthercomprehensiveincomesthatwon’tbeclassifiedintoprofitandloss | ||||||||
| TwoOthercomprehensiveincomesthatwillbeclassifiedintoprofitandloss | 1,005,720.50 | 364,260.42 | 364,260.42 | 1,369,980.92 | ||||
| Including；Converteddifferencebetweenforeigncurrencyfinancialstatements | 1,005,720.50 | 364,260.42 | 364,260.42 | 1,369,980.92 | ||||
| Total | 1,005,720.50 | 364,260.42 | 364,260.42 | 1,369,980.92 | ||||
42.SurplusReserves
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| StatutorySurplusReserves | 84,487,609.05 | 7,697,253.02 | 92,184,862.07 | |
| FreeSurplusReserves | 37,634,827.93 | 37,634,827.93 | ||
| Intotal | 122,122,436.98 | 7,697,253.02 | 129,819,690.00 |
43.UndistributedProfit
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Adjustmentonundistributedprofitatendoflastyear | 532,904,675.62 | 391,493,534.34 |
| Adjustmentontotalnumberofundistributedprofitatbeginningofperiod(increase+anddecrease-) | ||
| Adjustedundistributedprofitatbeginningofperiod | 532,904,675.62 | 391,493,534.34 |
| Add:netprofitattributabletoparentcompanyinthecurrentperiod | 102,348,088.85 | 141,411,141.28 |
| Less:withdrawalstatutorysurplusreserves | 7,697,253.02 | |
| Undistributedprofitatendofperiod | 627,555,511.45 | 532,904,675.62 |
44.OperationRevenueandOperationCost
(1)OperationRevenueandOperationCost
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod | ||
| Revenue | Cost | Revenue | Cost | |
| PrimeBusiness | 11,844,929,514.32 | 11,501,631,237.44 | 12,814,528,584.23 | 12,224,032,469.41 |
| OtherBusiness | 56,079,697.31 | 49,171,830.07 | 43,345,717.49 | 13,538,869.90 |
| Intotal | 11,901,009,211.63 | 11,550,803,067.51 | 12,857,874,301.72 | 12,237,571,339.31 |
(2)Operationrevenueandoperationcostpresented
| ContractCategory | OperationRevenue | OperationCost |
| IndustryandBusiness-classified | ||
| OilandOilSeeds | 10,909,755,649.64 | 10,787,126,093.80 |
| Food | 935,173,864.68 | 714,505,143.64 |
| ContractCategory | OperationRevenue | OperationCost |
| Others | 56,079,697.31 | 49,171,830.07 |
| Region-classified | ||
| IncludingNorthChina | 7,583,746,566.94 | 7,527,901,048.81 |
| EastChina | 2,067,768,342.61 | 1,863,278,162.20 |
| NortheastChina | 578,965,142.42 | 534,996,808.22 |
| SouthEast | 446,348,295.62 | 430,387,752.47 |
| SouthChina | 462,142,367.94 | 444,888,403.88 |
| Southwest | 666,177,336.48 | 661,874,710.24 |
| Others | 95,861,159.62 | 87,476,181.69 |
| Timeforthetransferofcommoditiesclassified | ||
| Revenuerecognitionatagiventime | 11,901,009,211.63 | 11,550,803,067.51 |
| Saleschannel-classified | ||
| includingdirect | 5,347,742,492.82 | 5,129,822,894.48 |
| Distribution | 6,497,187,021.50 | 6,371,808,342.96 |
| Others | 56,079,697.31 | 49,171,830.07 |
| Intotal | 11,901,009,211.63 | 11,550,803,067.51 |
(3)Performanceobligationsexplanation
| Item | Timeofperformanceobligations | Importantpaymentterms | Natureofthecommitmenttotransfercommoditiesbythecompany | Whethermainresponsibleperson | ExpectedrefundtothecustomerbytheCompany | QualityassurancecategoryprovidedbytheCompanyandrelevantobligations |
| Processing,salesandtradingofoilandoilseeds,aswellasfoodstuffs | Upondelivery | Mainlypaymentfirst | Mainlysalesofoilandoilsees,snackfood | Yes | No | Statutoryguarantees |
Note:Companyanddistributorsadoptthepaymentfirstmethod,certaincreditlinesofferedbythecompanytopartialdistributorswithlong-termcooperationandgoodreputation.Forsettlement,partialdirectsalecustomersandsupermarketsshallbeproceededonagreedpaymenttermsinaccordancewiththecontract
(4)AmortizationonremainingperformanceobligationsexplanationContracthasbeensignedatendreportingperiod,howeverthecorrespondingamountisRmb456,904,778.71fortheoutstandingobligationsorobligationsnotyetcompletefulfilled.Therevenueshallberecognizedin2024.
45.TariffAndAnnex
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| UrbanMaintenanceandConstructionTax | 3,395,501.76 | 8,392,378.68 |
| HousePropertytax | 7,295,069.14 | 7,348,144.90 |
| LandUseTax | 2,290,615.80 | 1,257,836.62 |
| EducationalSurtax | 2,456,291.23 | 6,041,032.64 |
| VehicleandVesselUseTax | 41,512.47 | 45,180.14 |
| EnvironmentalProtectionFees | 30,843.03 | 25,928.59 |
| StampTax | 7,421,881.18 | 7,306,545.73 |
| OtherTaxesandFees | 667.49 | 68,082.45 |
| Intotal | 22,932,382.10 | 30,485,129.75 |
46.SalesExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| EmployeeCompensation | 64,636,913.79 | 74,865,384.05 |
| SalesPromotionExpenses | 18,442,554.57 | 15,397,370.72 |
| WarehousingFees | 16,512,288.34 | 25,934,599.40 |
| Depreciation | 16,173,229.17 | 15,817,872.17 |
| SalesPromotionExpenses | 2,616,904.12 | 13,233,177.70 |
| Materialconsumption,sampleandproductcost | 2,485,434.87 | 1,929,425.92 |
| RepairCosts | 2,090,173.34 | 1,987,578.98 |
| WaterandElectricityFees | 1,280,862.67 | 1,378,704.72 |
| Leasefee | 1,239,720.46 | 3,070,223.37 |
| Insurance | 445,587.43 | 289,252.25 |
| VehicleFees | 410,149.86 | 682,797.65 |
| PackingExpenses | 364,375.51 | 109,762.53 |
| TerminalCharges | 320,767.29 | 1,724,015.11 |
| TravelExpenses | 6,096,249.43 | 5,280,805.02 |
| TestandDetectionFees | 264,296.91 | 177,247.52 |
| LaborProtectionFees | 131,844.93 | 139,738.67 |
| BusinessEntertainmentExpenses | 255,312.36 | 24,672.00 |
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Others | 933,621.22 | 1,888,072.26 |
| Total | 134,700,286.27 | 163,930,700.04 |
47.AdministrationExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| EmployeeCompensation | 137,027,182.45 | 138,464,028.57 |
| ImpairmentCosts | 17,485,332.22 | 18,141,539.50 |
| AmortizationofAssets | 14,787,451.81 | 15,771,966.91 |
| FeesofEmployingAgent | 7,625,327.29 | 8,709,204.04 |
| RepairCosts | 6,467,541.44 | 3,334,959.13 |
| CompanyExpenses | 4,897,271.51 | 1,800,883.30 |
| Leasefee | 3,211,730.12 | 3,882,289.68 |
| VehicleFees | 2,184,227.98 | 2,145,027.56 |
| SecurityProtectionFees | 1,772,654.96 | 1,242,530.60 |
| Amortizationoflong-termprepayments | 1,610,265.81 | 18,228.54 |
| InformationNetworkFees | 1,423,703.10 | 1,229,220.31 |
| CommercialInsuranceExpensesWorkersInsuranceExpense | 1,407,380.46 | 1,959,088.81 |
| TravelExpenses | 1,198,460.18 | 513,023.38 |
| BusinessEntertainmentExpenses | 942,076.90 | 1,257,895.61 |
| BusinessEntertainmentExpenses | 934,893.63 | 665,034.02 |
| MaterialConsumption | 657,054.96 | 602,254.49 |
| CompanyExpenses | 609,846.94 | 5,777,472.22 |
| LaborProtectionFees | 413,741.50 | 468,689.86 |
| MeetingExpenses | 89,343.12 | 52,879.06 |
| TaxesinExpenses | 56,657.81 | 283,703.44 |
| OtherExpenses | 9,172,060.90 | 3,286,845.39 |
| Intotal | 213,974,205.09 | 209,606,764.42 |
48.ResearchandDevelopmentExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Salary | 10,986,790.95 | 9,938,209.22 |
| Materialfee | 3,839,190.78 | 20,350.20 |
| MaterialConsumption | 2,565,948.18 | 3,195,077.96 |
| FuelandPowerFee | 670,315.44 | 8,610.00 |
| Depreciationandamortization | 590,080.30 | 1,118.16 |
| Designexpense | 566,037.74 | 566,037.72 |
| EquipmentCost | 105,418.94 | 258,395.57 |
| TransportationExpense | 103,961.21 | 14,999.80 |
| Others | 1,470,218.17 | 388,565.54 |
| Intotal | 20,897,961.71 | 14,391,364.17 |
49.FinancialExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| InterestExpenses | 62,101,542.12 | 46,001,727.19 |
| Less:InterestIncome | 18,201,145.42 | 26,078,234.77 |
| ServiceCharges | 1,119,817.26 | 4,573,991.30 |
| ExchangeLoss | 922,278.26 | 1,101,362.76 |
| Less：ExchangeProfit | 2,424,915.08 | -33,733.99 |
| Others | 2,348.54 | |
| Intotal | 43,519,925.68 | 25,632,580.47 |
50.OtherProfits
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| GovernmentSubsidy | 13,150,019.76 | 15,640,947.01 |
| ReturnofServiceChargesofWithholdingIndividualIncomeTax | 181,917.61 | 140,778.62 |
| Others | 840.00 | |
| Intotal | 13,332,777.37 | 15,781,725.63 |
51.InvestmentIncome
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Long-termequityinvestmentincomeaccountedwithequitymethod | 11,368,728.43 | 12,293,636.95 |
| Investmentincomefromdisposalofwealthmanagementproducts | 3,987,862.90 | |
| Investmentincomeofdisposingtradingfinancialassets | 211,777.70 | 751,411.16 |
| Investmentincomeobtainedduringtheholdingoftransactionalfinancialassets | 374,460.84 | 267,083.33 |
| Others | -12,559.79 | -9,059.80 |
| Intotal | 15,930,270.08 | 13,303,071.64 |
52.ProfitsonChangesinFairValue
| Sourceofgeneratingincomewithchangesinfairvalue | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| TradingFinancialassets | 228,219,839.09 | 61,032,222.12 |
| Including:incomewithchangesinfairvaluegeneratedbyhedginginstrumentsandhedgeditem | 228,219,839.09 | 61,032,222.12 |
| Intotal | 228,219,839.09 | 61,032,222.12 |
53.Creditimpairmentloss
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Accountsreceivablebaddebtloss | -5,126,006.59 | -2,012,156.44 |
| Otherreceivablesbaddebtloss | -1,779.74 | 7,500.00 |
| Total | -5,127,786.33 | -2,004,656.44 |
54.LossfromAssetDevaluation
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| LossonBadDebts&LossonInventoryPriceLoss | -29,004,360.66 | -43,736,036.29 |
| Intotal | -29,004,360.66 | -43,736,036.29 |
55.AssetsDisposalIncome
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Gainsorlossesondisposaloffixedassets | 50,283.79 | 466,027.43 |
| Intotal | 50,283.79 | 466,027.43 |
56.Non-operatingIncome
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod | AmountsChargedtoNon-recurringProfitandLoss |
| Noncurrentassetsretirementgains: | 16,682.16 | 2,057.52 | 16,682.16 |
| Governmentsubsidiesrelatedtonon-routinesofenterprise | 4,502.00 | ||
| Fines/penaltyincome,latefee,compensation | 6,143,722.18 | 4,251,520.44 | 6,143,722.18 |
| Payableamountsnotrequiredtobepaid | 251,522.70 | 487,200.03 | 251,522.70 |
| Wastedisposalgains | 119,317.42 | 119,317.42 | |
| Others | 236,088.24 | 610,950.95 | 236,088.24 |
| Intotal | 6,767,332.70 | 5,356,230.94 | 6,767,332.70 |
57.Non-operatingExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod | AmountsChargedtoNon-recurringProfitandLoss |
| Totallossonscrapofnoncurrentassets | 318,231.18 | 114,754.83 | 318,231.18 |
| Publicwelfaredonation | 50,000.00 | 86,722.08 | 50,000.00 |
| Penaltyexpenditure | 3,438,439.46 | 105,996.54 | 3,438,439.46 |
| Others | 210,575.30 | 824,881.90 | 210,575.30 |
| Total | 4,017,245.94 | 1,132,355.35 | 4,017,245.94 |
58.IncomeTaxExpenses
(1)ListofIncomeTaxExpenses
| AmountsintheCurrentPeriod | AmountsinthePriorPeriod | AmountsintheCurrentPeriod |
| IncomeTaxExpensesoftheCurrentPeriod | 30,811,845.54 | 59,796,486.70 |
| DeferredIncomeTaxExpenses | 6,067,801.54 | 1,274,800.56 |
| Total | 36,879,647.08 | 61,071,287.26 |
(2)AccountingProfitandIncomeTaxExpenseAdjustmentProcess
| Items | AmountsintheCurrentPeriod |
| TotalProfits | 140,332,493.37 |
| Items | AmountsintheCurrentPeriod |
| Incometaxexpensescalculatedbystatutory/applicabletaxrate | 35,083,123.34 |
| Effectofsubsidiarycorporationsbeingapplicabletodifferenttaxrates | -742,229.61 |
| Adjustmentoneffectofincometaxinthepriorperiod | 880,903.85 |
| EffectofNon-taxableIncomes | -1,930,792.57 |
| EffectofNon-deductiblecost,expenseandloss | 170,669.41 |
| Effectofdeductiblelossonusageofunconfirmeddeferredincometaxassetsinthepriorperiod | -4,730,551.02 |
| Effectofdeductibletemporarydifferenceordeductiblelossonunconfirmeddeferredincometaxinthecurrentperiod | 19,376,336.69 |
| EffectofResearchexpenses,disablesweighteddeduction | -4,670,460.86 |
| Effectofassetdepreciationreservewrite-offorreversal | -218,861.12 |
| Effectofnon-taxableinvestmentincome | -2,861,417.71 |
| Effectofinitialrecognitionofdeferredtaxassetsrefund | 248,999.87 |
| Effectofdeductibletemporarydifferencesonotrecognizedfordeferredincometaxassetduringthepriorperiod | -5,181.05 |
| Policymove,fixedassetsone-timedepreciation | -3,644,604.60 |
| Others | -76,287.54 |
| IncomeTaxExpenses | 36,879,647.08 |
59.Othercomprehensiveincomeitemsandtheirincometaximpactandtransferredto
profitandlossSeedetailsof‘AppendixVNotesonItemsinConsolidatedFinancialStatements41OtherComprehensiveIncomes’
60.Notestoitemsrelatedcashflowstatement
(1)CashrelatedtooperatingactivitiesA.Receivingothercashrelatedtooperationactivities
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| IntercourseFundsofRelatedParties | 26,969,822.02 | 3,821,301.49 |
| Depositsecurity | 2,178,381,623.73 | 1,820,481,225.64 |
| IntercourseFundsofOtherUnits | 89,136,407.24 | 534,241,370.31 |
| InterestIncome | 13,316,019.01 | 26,078,234.77 |
| Non-operatingIncomeandother | 6,418,418.92 | 10,776,175.29 |
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| income | ||
| Others | 3,658,424.57 | 2,634,069.26 |
| Total | 2,317,880,715.49 | 2,398,032,376.76 |
B.OtherCashPaymentRelatedtoOperationActivities
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Expenses | 104,347,063.80 | 101,066,087.88 |
| IntercourseFundsofOtherUnits | 57,986,662.42 | 738,586,568.78 |
| IntercourseFundsofRelatedParties | 11,939,808.97 | 3,542,441.19 |
| PettyCashPaid | 138,317.53 | |
| Depositsecurity | 2,180,753,383.10 | 2,497,012,200.80 |
| Others | 8,111,618.56 | 7,399,437.03 |
| Intotal | 2,363,276,854.38 | 3,347,606,735.68 |
(2)CashrelatedtoinvestmentactivitiesOthercashpaymentrelatedtoinvestmentactivities
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| HebeiGrease&OilCashandcashequivalents | 9,772,907.10 | |
| Intotal | 9,772,907.10 |
(3)CashrelatedtofinancingactivitiesA.Othercashreceivedrelatedtofinancingactivities
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| SubsidiesrelatedtoR&DfromBeijingCapitalAgricultureGroup | 3,090,000.00 | 2,760,000.00 |
| Intotal | 3,090,000.00 | 2,760,000.00 |
B.Othercashpaidrelatedtofinancingactivities
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Leasepaymentamount | 29,652,976.62 | 1,238,815.56 |
| Intotal | 29,652,976.62 | 1,238,815.56 |
C.VariousliabilitychangesituationFromFinancingActivities
| Item | BeginningBalance | Increaseinthisperiod | Decreaseinthisperiod | EndingBalance | ||
| CashMovement | Non-cashMovement | CashMovement | Non-cashMovement | |||
| Short-termborrowing | 1,260,543,148.81 | 2,440,722,851.78 | 44,637,869.17 | 2,334,699,934.09 | 247,724,244.00 | 1,163,479,691.67 |
| Long-termborrowing | 500,284,166.67 | 122,625,124.00 | 16,351,578.29 | 66,315,981.07 | 22,625,124.00 | 550,319,763.89 |
| BondPayable | 298,650,000.00 | 3,030,000.00 | 301,680,000.00 | |||
| LeaseLiability | 2,137,097.12 | 121,066,634.33 | 27,220,803.49 | 95,982,927.96 | ||
| Total | 1,762,964,412.60 | 2,861,997,975.78 | 185,086,081.79 | 2,428,236,718.65 | 270,349,368.00 | 2,111,462,383.52 |
Note:amountpresentedaboveincludesthatofreclassificationtonon-currentliabilitiesdueinoneyear
61.SupplementaryMaterialsofCashFlowsStatement
(1)SupplementaryMaterialsofCashFlowsStatement
| SupplementaryMaterials | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| 1.Adjustingnetaccountingprofittooperatingcashflow | —— | —— |
| NetProfit | 103,452,846.29 | 164,251,365.98 |
| Add:AssetsImpairmentReserves | 29,004,360.66 | 43,736,036.29 |
| Creditimpairmentloss | 5,127,786.33 | 2,004,656.44 |
| FixedAssetsDepreciation,Oil-and-gasAssetsDepreciationandProductiveBiologicalAssetsDepreciation | 95,114,999.37 | 100,395,996.41 |
| Right-of-useassetsdepreciation | 24,780,097.22 | 1,596,901.59 |
| AmortizationofIntangibleAssets | 14,871,472.21 | 14,949,175.38 |
| AmortizationofLong-termDeferredExpenses | 1,646,475.12 | 1,574,060.61 |
| LossesonDisposalofFixedAssets,IntangibleAssetsandOtherLong-termAssets(Fillinprofitwithsymbol“－”) | -50,283.79 | -311,079.19 |
| LossesonRetirementofFixedAssets(Fillinprofitwithsymbol“－”) | 301,549.02 | 112,697.31 |
| LossesonChangesinFairValue(Fillinprofitwithsymbol“－”) | -228,219,839.09 | -61,032,222.12 |
| FinancialExpenses(Fillinprofitwithsymbol“－”) | 64,730,900.89 | 46,001,727.19 |
| InvestmentLosses(Fillinprofitwithsymbol“－”) | -15,930,270.08 | -13,303,071.64 |
| DecreaseinDeferredIncomeTaxAssets(Fillinincreasewithsymbol“－”) | 5,390,848.71 | -618,700.74 |
| IncreaseinDeferredIncomeTaxReliabilities(Fillindecreasewithsymbol“－”) | 676,952.83 | 1,154,250.79 |
| DecreaseinInventory(Fillinincreasewithsymbol“－”) | -253,552,786.31 | -214,308,147.68 |
| DecreaseinItemsofOperatingReceivables(Fillinincreasewithsymbol“－”) | 368,727,261.20 | -261,629,758.95 |
| IncreaseinItemsofOperatingReceivables(Fillindecreasewithsymbol“－”) | -106,585,415.84 | -357,804,834.70 |
| NetCashFlowsfromOperatingActivities | 109,486,954.74 | -533,230,947.03 |
| 2.Majorinvestmentandfinancingactivitiesthatdonotinvolvecashpayments | —— | —— |
| 3.Netchangeconditionsincashandcashequivalents | —— | —— |
| Cashbalanceatendofperiod | 1,540,639,079.95 | 551,439,110.07 |
| Less:cashbalanceatbeginningofperiod | 551,439,110.07 | 506,928,810.69 |
| Cashandcashequivalentnetincrease | 989,199,969.88 | 44,510,299.38 |
(2)Netcashreceivedfromdisposalofsubsidiaries
| Item | Amount |
| Cashandcashequivalentsreceivedfromdisposalofsubsidiariesinthecurrentperiod. | |
| Less:Cashandcashequivalentsheldbysubsidiariesonthedateoflossofcontrol | 9,772,907.10 |
| Including:Jingliang(Hebei)GreaseIndustryCo.,Ltd. | 9,772,907.10 |
| Add:Cashorcashequivalentsreceivedinthecurrentperiodfordisposalofsubsidiariesinpriorperiods. | |
| Netcashreceivedfordisposalofsubsidiaries | -9,772,907.10 |
(3)Compositionofcashandcashequivalents
| Items | BalanceatEndofPeriod | BalanceatBeginningofPeriod |
| One.Cash | 1,540,639,079.95 | 551,439,110.07 |
| Including:cashinstock | 9,949.26 | 10,693.10 |
| Bankdepositavailableforpaymentatanytime | 1,423,321,137.06 | 531,515,415.66 |
| Othercurrencyfundsavailableforpaymentatanytime | 117,307,993.63 | 19,913,001.31 |
| Two.CashEquivalents | ||
| Three.BalanceofCashandCashEquivalentsatEndofPeriod | 1,540,639,079.95 | 551,439,110.07 |
62.MonetaryItemsofForeignCurrency
MonetaryItemsofForeignCurrency
| Items | BalanceofForeignCurrencyatEndofPeriod | ExchangeRateConvert | BalanceofConvertingtoRMBatEndofPeriod |
| Monetaryfund | —— | —— | 132,735,270.36 |
| Including:USDollars | 18,740,772.64 | 7.0827 | 132,735,270.36 |
| Otherreceivables | —— | —— | 60,753,187.26 |
| Including:USDollars | 8,577,687.50 | 7.0827 | 60,753,187.26 |
63.Lease
(1)AsLessee
| Item | Amount |
| Interestcostontheleaseliability | 4,021,828.22 |
| Short-termleaseexpensesforsimplifiedprocessingofrelatedassetcostsorprofitorlossinthecurrentperiod | 1,191,590.32 |
| TotalCashOutflowrelatedtolease | 30,083,699.70 |
(2)AsLessorOperatingleaseaslessor
| Item | Leaseholdincome | Including:Incomerelatedtovariableleasepaymentsnotincludedinleaseincome |
| Leaseholdincome | 1,669,556.10 | |
| Total | 1,669,556.10 |
VIResearchandDevelopmentExpensesDisclosedbynatureofexpenses
| Item | Amountincurrentperiod | Amountinpriorperiod |
| Salary | 10,986,790.95 | 9,938,209.22 |
| Materialexpense | 3,839,190.78 | 20,350.20 |
| Materialconsumption | 2,565,948.18 | 3,195,077.96 |
| Fuel&Powerexpenses | 670,315.44 | 8,610.00 |
| DepreciationandAmortizationFee | 590,080.30 | 1,118.16 |
| DesignFee | 566,037.74 | 566,037.72 |
| Equipmentcost | 105,418.94 | 258,395.57 |
| Travelexpense | 103,961.21 | 14,999.80 |
| Others | 1,470,218.17 | 388,565.54 |
| Total | 20,897,961.71 | 14,391,364.17 |
| Including:R&Dexpenditure | 20,897,961.71 | 14,391,364.17 |
| CapitalizedR&Dexpenditure |
VIIChangeinConsolidationScope
Duringthisreportingperiod,thecompanynewlyinvestedandestablishedJingliang(Yangpu)Grease&OilCo.,Ltd.,andcancelledJingliang(Hebei)Grain&OilIndustryCo.,Ltd.,.Atotalof18subsidiariesoftheCompanywereincludedinthescopeofconsolidationon31December,2023
VIIIEquitiesinOtherEntities
1.EquitiesinSubsidiaries
(1)CompositionoftheCompany
| NameofSubsidiary | PrinciplePlaceofBusiness | RegisteredCapital(IntenthousandsYuan) | RegisteredPlace | NatureofBusiness | ShareholdingRatio(%) | ModeofAcquisition | |
| Direct | Indirect | ||||||
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | Tianjin | 56,000.00 | Tianjin | AgriculturalProductandByProductProcessing | 70.00 | Mergerunderthesamecontrol | |
| BeijingJingliangOilandFatCo.,Ltd. | Beijing | 5,000.00 | Beijing | Grainandoiltrade | 100.00 | Mergerunderthesamecontrol | |
| BeijingGuchuanEdibleOilCo.,Ltd. | Beijing | 12,558.46 | Beijing | Grainandoiltrade | 100.00 | Mergerunderthesamecontrol | |
| BeijingEisen-LubaoOilCo.,Ltd. | Beijing | 5,050.00 | Beijing | AgriculturalProductandByProductProcessing | 100.00 | Mergerunderthesamecontrol | |
| BeijingTianweikangOilDistributionCenterCo.,Ltd. | Beijing | 500.00 | Beijing | Warehousing | 100.00 | Mergerunderthesamecontrol | |
| BeijingGuchuanBreadFoodCo.,Ltd. | Beijing | 5,550.00 | Beijing | FoodProcessing | 100.00 | Mergerunderthesamecontrol | |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | Hangzhou | 5,156.00 | Hangzhou | FoodProcessing | 17.6794 | 77.2072 | Combinationnotundersamecontrol |
| HangzhouLin'anXiaotianshiFoodCo.,Ltd. | Hangzhou | 4,900.00 | Hangzhou | FoodProcessing | 17.6794 | 77.2072 | ditto |
| NameofSubsidiary | PrinciplePlaceofBusiness | RegisteredCapital(IntenthousandsYuan) | RegisteredPlace | NatureofBusiness | ShareholdingRatio(%) | ModeofAcquisition | |
| Direct | Indirect | ||||||
| LiaoningXiaoWangZiFoodCo.,Ltd. | Liaoning | 3,000.00 | Liaoning | FoodProcessing | 17.6794 | 77.2072 | ditto |
| LinqingXiaoWangZiFoodCo.,Ltd. | Linqing | 2,132.50 | Linqing | FoodProcessing | 17.6794 | 77.2072 | ditto |
| Lin'anChunmanyuanAgriculturalDevelopmentCo.,Ltd. | Hangzhou | 600.00 | Hangzhou | FoodProcessing | 17.6794 | 77.2072 | ditto |
| Jingliang(Singapore)InternationalTradeCo.,Ltd. | Singapore | 643.35 | Singapore | Graintrade | 100.00 | Investintheestablishment | |
| Beijingjinglianggubioilandgreaseco.LTD | Beijing | 5,000.00 | Beijing | Grainandoiltrade | 100.00 | Investintheestablishment | |
| Jingliang(Hebei)Grain&OilIndustryCo.,Ltd. | Hebei | 6,500.00 | Hebei | Agriculturalproducts | 51.00 | Mergerunderthesamecontrol | |
| BeijingJingliangFoodCo.,Ltd. | Beijing | 134,144.76 | Beijing | Investmentmanagement | 100.00 | Mergerunderthesamecontrol | |
| Jingliang(Caofeidian)AgriculturalDevelopmentCo.,Ltd. | Tangshan | 5,000.00 | Tangshan | Plantation | 51.00 | Investintheestablishment | |
| Jingliang(Yueyang)GrainandOilIndustryCo.,Ltd. | Hunan | 68,000.00 | Hunan | Agriculturalproducts | 65.00 | Investintheestablishment | |
| Jingliang(Beijing)FoodMarketingManagementCo.,Ltd | Beijing | 800.00 | Beijing | Commercialservices | 100.00 | Investintheestablishment | |
| Jingliang(Yangpu)GrainandOilIndustryCo.,Ltd. | Hainan | 50,000.00 | Hainan | AgriculturalProductandByProductProcessing | 65.00 | Investintheestablishment | |
Note:BeijingGrain&OilCo.,Ltd.haswithdrawedthecapitalfromJingliang(Hebei)Grain&OilIndustryCo.,Ltdlduringthisreportingperiod.
(2)Majornon-wholly-ownedsubsidiaries
| NameofSubsidiary | ShareholdingRatioofMinorityShareholders(%) | ProfitAndLossAttributabletoMinorityShareholdersfortheCurrentPeriod | DividendsDistributedtoMinorityShareholdersfortheCurrentPeriod | BalanceofMinorityShareholder'sEquityattheEndofthePeriod |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 30.00% | -1,483,442.04 | 62,985,200.00 | 222,266,423.70 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 5.11% | 21,115,388.05 | 45,585,600.00 | 198,129,283.97 |
(3)Importantfinancialinformationonmajornon-wholly-ownedsubsidiaries
| NameofSubsidiary | ClosingBalance | |||||
| CurrentAssets | Non-currentAssets | TotalAssets | CurrentLiabilities | Non-currentLiabilities | TotalLiabilities | |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 1,690,703,873.13 | 715,120,631.78 | 2,405,824,504.91 | 1,401,536,126.49 | 263,400,299.40 | 1,664,936,425.89 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 556,236,641.71 | 333,141,896.19 | 889,378,537.90 | 103,727,129.38 | 17,728,505.38 | 121,455,634.76 |
(Continued)
| NameofSubsidiary | OpeningBalance |
| CurrentAssets | Non-currentAssets | TotalAssets | CurrentLiabilities | Non-currentLiabilities | TotalLiabilities | |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 1,765,160,961.33 | 729,047,006.26 | 2,494,207,967.59 | 1,184,852,881.71 | 362,661,433.41 | 1,547,514,315.12 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 694,319,525.47 | 344,517,064.82 | 1,038,836,590.29 | 154,188,477.46 | 17,660,046.22 | 171,848,523.68 |
(Continued)
| NameofSubsidiary | Amountincurredinthecurrentperiod | |||
| OperatingIncome | NetProfit | TotalComprehensiveIncome | CashFlowfromOperatingActivities | |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 5,567,060,384.67 | 9,084,326.55 | 9,084,326.55 | 341,687,731.49 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 801,501,276.72 | 100,934,836.53 | 100,934,836.53 | 47,904,799.55 |
(Continued)
| NameofSubsidiary | Amountincurredinthepriorperiod | |||
| OperatingIncome | NetProfit | TotalComprehensiveIncome | CashFlowfromOperatingActivities | |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 6,622,948,465.03 | 57,992,070.30 | 57,992,070.30 | -838,336,853.05 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 856,340,284.62 | 102,525,949.60 | 102,525,949.60 | 17,184,906.38 |
2.EquityinJointVenturesorAffiliates
(1).ImportantJointVenturesorAffiliates
| NameofJointVentureorAffiliate | PrinciplePlaceofBusiness | RegisteredPlace | NatureofBusiness | ShareholdingRatio(%) | AccountingTreatmentMethodsforInvestmentinJointVenturesorAffiliates | |
| Direct | Indirect | |||||
| BeijingZhengdaFeedCo.,Ltd. | Beijing | Beijing | Manufacturer | 50.00 | Equitymethod | |
| SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | Tianjin | Tianjin | Transportationandwarehousing | 30.00 | Equitymethod | |
| JingliangMissmeCateringManagement(Beijing)Co.,Ltd. | Beijing | Beijing | Manufacturer | 48.00 | Equitymethod | |
(2).Importantfinancialinformationonmajorjointventures
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| BeijingZhengdaFeedCo.,Ltd. | BeijingZhengdaFeedCo.,Ltd. | |
| Currentassets | 319,779,538.52 | 301,420,356.94 |
| Including:cashandcashequivalents | 12,804,613.72 | 21,778,758.99 |
| Non-currentassets | 19,900,378.39 | 21,331,443.39 |
| Totalassets | 339,679,916.91 | 322,751,800.33 |
| Currentliabilities | 58,198,209.39 | 75,869,110.91 |
| Non-currentliabilities | 24,694,621.01 | 4,593,536.23 |
| Totalliabilities | 82,892,830.40 | 80,462,647.14 |
| Minorityshareholder'sequity | ||
| Shareholders'equityattributabletotheparentcompany | 256,787,086.51 | 242,289,153.19 |
| Shareofnetassetsbasedonshareholdingratio | 128,393,543.26 | 121,144,576.60 |
| Bookvalueofequityinvestmentin | 128,393,543.26 | 121,144,576.60 |
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| BeijingZhengdaFeedCo.,Ltd. | BeijingZhengdaFeedCo.,Ltd. | |
| jointventures | ||
| Operatingincome | 333,814,764.22 | 333,958,015.25 |
| Financialcosts | -8,260,978.56 | -6,897,167.49 |
| Incometaxexpense | 4,783,324.60 | 8,234,800.46 |
| Netprofit | 13,840,755.05 | 24,398,297.21 |
| Dividendsreceivedfromjointventuresinthecurrentperiod | 13,840,755.05 | 24,398,297.21 |
(3)Importantfinancialinformationonmajoraffiliates
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | |
| Currentassets | 59,019,697.43 | 122,303,388.75 |
| Non-currentassets | 886,062,609.97 | 816,481,284.48 |
| Totalassets | 945,082,307.40 | 938,784,673.23 |
| Currentliabilities | 33,964,613.24 | 110,559,868.69 |
| Non-currentliabilities | 506,182,569.64 | 438,856,701.56 |
| Totalliabilities | 540,147,182.88 | 549,416,570.25 |
| Minorityshareholder'sequity | ||
| Shareholders'equityattributabletotheparentcompany | 404,935,124.52 | 389,368,102.98 |
| Shareofnetassetsbasedonshareholdingratio | 121,480,537.36 | 116,810,430.89 |
| Adjustments | ||
| Bookvalueofequityinvestmentinaffiliates | 121,480,537.36 | 116,810,430.89 |
| Fairvalueofequityinvestmentinaffiliateswithopenoffers | ||
| Operatingincome | 48,403,561.21 | 73,584,532.63 |
| Netprofit | 15,567,021.54 | 12,040,220.56 |
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | |
| Netprofitfromdiscontinuedoperations | ||
| Othercomprehensiveincome | ||
| Totalcomprehensiveincome | 15,567,021.54 | 12,040,220.56 |
| Dividendsreceivedfromaffiliatesinthecurrentperiod |
(4)Non-importantaggregatedfinancialinformationonaffiliates
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| Associatedenterprises：JingliangMissmeCateringManagement(Beijing)Co.,Ltd. | ||
| TotalofInvestmentBookValue | 6,352,166.62 | 6,441,668.82 |
| Itemscalculatedaccordingtoshareholdingratio | ||
| --Netprofit | -89,502.20 | -446,589.18 |
| --Othercomprehensiveincome | ||
| --Totalcomprehensiveincome | -89,502.20 | -446,589.18 |
IXGovernmentSubsidies
Governmentsubsidyincludedincurrentprofitorloss
| Item | CurrentAmount | LastTermAmount |
| VATrefunds | 7,349,068.91 | 8,038,527.08 |
| SupportingsubsidyduringtheestablishmentphaseforTianjinLingangIndustrialzonemanagementcommittee | 1,277,504.16 | 1,277,504.16 |
| Specialsubsidyforinfrastructureinput | 767,281.55 | 867,756.91 |
| Increase8000tonCornfoodproductionlinetechnicalinnovationprojectsubsidyfund | 470,000.00 | |
| Importedsoybeanfinancialsubsidies | 400,000.00 | |
| Compensationfordemolitionandrelocation | 384,763.82 | 384,763.82 |
| Thedisabledemploymentsubsidy | 295,659.73 | 421,287.35 |
| Developmentzoneextensionsupportingbonus | 261,643.00 |
| Item | CurrentAmount | LastTermAmount |
| BeijingMunicipalFoodandMaterialReserveBureau"OilTankExpansionandWinterTransformationProject"subsidyfund | 250,180.91 | 104,242.06 |
| Subsidyforjobstabilization | 229,425.94 | 720,380.96 |
| TianjinBinhaiNewAreaindustrialtechnologicaltransformationandparkconstructionfundsandscienceandtechnologyexpenditure | 222,222.24 | 222,222.24 |
| informationizationmonitoringequipment | 200,686.32 | 200,686.32 |
| TielingMayorqualificationbonus | 200,000.00 | |
| IndustrialReunificationzonepolicysubsidyin2023 | 150,000.00 | |
| 2021-2022Urbanlandusetaxrefund | 101,200.00 | |
| TianjinPortFreeTradeZoneDevelopmentandReformBureauIntelligentManufacturingSpecialFund | 100,000.00 | 672,000.00 |
| Provideworksubsidy | 267,000.00 | |
| LinanEconomicinformationBureauTechnicalInnovationsubsidy | 840,000.00 | |
| includeddemobilizedsoldiersemploymentVATdeduction | 162,000.00 | |
| One-offtrainingallowanceforworkers | 678,600.00 | |
| Bureauofeconomyandinformationtechnologywaterbalanceprojectsubsidy | 150,000.00 | |
| Lin'anemploymentmanagementunemploymentcompensation | 405,125.43 | |
| Others | 490,383.18 | 228,850.68 |
| Intotal | 13,150,019.76 | 15,640,947.01 |
XRisksRelatedtoFinancialInstruments
1.RisksRelatedtoFinancialInstruments
TheCompany'sprincipalfinancialinstrumentsincludeequityinvestment,creditors'investment,borrowing,accountsreceivable,accountspayable,etc.TheprimarypurposeofthesefinancialinstrumentsistofinancetheoperationsoftheCompany.TheCompanyhasavarietyofotherfinancialassetsandliabilitiesdirectlyarisingfromitsoperations,suchasaccountsreceivableandaccountspayable.
ThemainriskscausedbytheCompany'sfinancialinstrumentsarecreditrisk,liquidityriskandmarketrisk.
(1)Classificationoffinancialinstruments
①BookvalueofvariousfinancialassetsonthebalancesheetdateA.December31,2023
| Financialassetitems | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandthechangesrecordedincurrentprofitsandlosses | Financialassetsmeasuredatfairvalueandthechangesrecordedinothercomprehensiveincome | Total |
| Monetaryfunds | 1,543,385,751.86 | 1,543,385,751.86 | ||
| Derivativefinancialassets | 31,684,620.00 | 31,684,620.00 | ||
| Accountsreceivables | 115,780,372.55 | 115,780,372.55 | ||
| Accountsreceivablefinancing | 2,502,308.90 | 2,502,308.90 | ||
| Otherreceivables | 303,099,589.59 | 303,099,589.59 | ||
| Investmentinotherequityinstruments | 20,000,000.00 | 20,000,000.00 | ||
| non-currentassetsduewithinone-year | 22,188,083.34 | 22,188,083.34 | ||
| Othercurrentassets | 238,358,924.24 | 238,358,924.24 | ||
| Othernon-currentassets | 10,390,000.00 | 10,390,000.00 |
B.December31,2022
| Financialassetitems | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandthechangesrecordedincurrentprofitsandlosses | Financialassetsmeasuredatfairvalueandthechangesrecordedinothercomprehensiveincome | Total |
| Monetaryfunds | 561,013,109.76 | 561,013,109.76 | ||
| Transactionalfinancialassets | 11,005,983.98 | 11,005,983.98 | ||
| Derivativefinancialassets | 201,549.12 | 201,549.12 | ||
| Accountsreceivables | 77,057,446.86 | 77,057,446.86 | ||
| Otherreceivables | 444,523,698.48 | 444,523,698.48 | ||
| Investmentinotherequityinstruments | 20,000,000.00 | 20,000,000.00 | ||
| Non-currentassetsduewithin1year | 148,387,894.16 | 148,387,894.16 | ||
| Othercurrentassets | 405,999,000.00 | 165,881,137.81 | 571,880,137.81 | |
| Othernon-currentassets | 53,544,782.34 | 53,544,782.34 |
②BookvalueofvariousfinancialliabilitiesonthebalancesheetdateA.December31,2023
| Financialliabilityitems | Financialliabilitiesmeasuredatfairvalueandchangesincludedincurrentprofitsandlosses | Otherfinancialliability | Total |
| Shorttermloans | 1,163,479,691.67 | 1,163,479,691.67 | |
| Derivativefinancialliability | 15,805,393.88 | 15,805,393.88 | |
| Notespayable | 82,474,823.84 | 82,474,823.84 |
| Financialliabilityitems | Financialliabilitiesmeasuredatfairvalueandchangesincludedincurrentprofitsandlosses | Otherfinancialliability | Total |
| Accountspayable | 79,618,198.78 | 79,618,198.78 | |
| OtherPayables | 400,000,000.00 | 400,000,000.00 | |
| Longtermloans | 298,800,000.00 | 298,800,000.00 | |
| Non-currentliabilityduewithinoneyear | 153,199,763.89 | 153,199,763.89 |
B.December31,2022
| Financialliabilityitems | Financialliabilitiesmeasuredatfairvalueandchangesincludedincurrentprofitsandlosses | Otherfinancialliability | Total |
| Shorttermloans | 1,260,543,148.81 | 1,260,543,148.81 | |
| Derivativefinancialliability | 111,373,155.00 | 111,373,155.00 | |
| Notespayable | 3,331,333.80 | 3,331,333.80 | |
| Accountspayable | 110,911,877.21 | 110,911,877.21 | |
| OtherPayables | 83,999,685.56 | 83,999,685.56 | |
| Longtermloans | 500,284,166.67 | 500,284,166.67 |
(2)CreditRiskOnDecember31,2023,thelargestcreditriskexposurethatmaycausefinanciallosstotheCompanymainlycomesfromthelossonfinancialassetsoftheCompanyduetothefailureoftheotherpartytoperformitsobligations,including:
Bookvalueoffinancialassetsrecognizedintheconsolidatedbalancesheet;forafinancialinstrumentmeasuredatfairvalue,itsbookvaluereflectsitsriskexposureinsteadoftheirbiggestriskexposure,anditsbiggestriskexposuremayvarywiththechangeofitsfuturefairvalue.
Inordertoreducethecreditrisk,theCompanysetsrelevantpoliciestocontrolitsexposure,setscorrespondingcreditperiodsbasedoncustomer’sfinancialposition,possibilityofobtainingguaranteesfromthirdparties,creditrecordsandotherfactorssuchascurrentmarketconditionsandothercreditqualificationsforcustomerassessment,andimplementsothermonitoringprocedurestoensurethatnecessarymeasuresaretakentorecoveroverduecredits.Inaddition,theCompanyreviewsthecollectionofindividualaccountreceivablesoneachbalancesheetdateinordertomakesufficientprovisionforbaddebtsforcollectableamounts.Therefore,theCompany'smanagementbelievesthattheCompany'screditriskhasbeengreatlyreduced.
TheliquidityfundsoftheCompanyaredepositedinbankswithhighcreditrating,sothecreditriskofliquidityfundsislow.
(3)LiquidityRisk
Whenmanagingliquidityrisk,theCompanykeepsandmonitorsadequatecashandcashequivalentsapprovedbyitsmanagementinordertomeettheCompany'sbusinessneedsandreducetheinfluencesofcashflowfluctuations.TheCompany'smanagementmonitorstheuseofbankloansandensurestheperformanceofloanagreements.
Maturityanalysisoffinancialliabilitiesintermsofundiscountedcontractualcashflows:
| Item | December31,2023 | |||
| WithinOneYear | OneToFiveYears | AboveFiveYears | Total | |
| Shorttermloans | 1,163,479,691.67 | 1,163,479,691.67 | ||
| Derivativefinancialliability | 15,805,393.88 | 15,805,393.88 | ||
| Accountspayable | 82,474,823.84 | 82,474,823.84 | ||
| Item | December31,2023 | |||
| WithinOneYear | OneToFiveYears | AboveFiveYears | Total | |
| OtherPayables | 79,618,198.78 | 79,618,198.78 | ||
| Long-termBorrowing | 400,000,000.00 | 400,000,000.00 | ||
| Notespayable | 298,800,000.00 | 298,800,000.00 | ||
| Non-currentliabilityduewithinoneyear | 153,199,763.89 | 153,199,763.89 | ||
(Continued)
| Item | December31,2022 | |||
| WithinOneYear | OneToFiveYears | AboveFiveYears | Total | |
| Shorttermloans | 1,260,543,148.81 | 1,260,543,148.81 | ||
| Derivativefinancialliability | 111,373,155.00 | 111,373,155.00 | ||
| Notespayable | 3,331,333.80 | 3,331,333.80 | ||
| Accountspayable | 106,405,184.62 | 4,506,692.59 | 110,911,877.21 | |
(4)MarketriskMarketriskreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetothechangeofmarketprice.Marketriskmainlyincludesinterestraterisk,foreignexchangeriskandotherpricerisks,suchasequityinstrumentinvestmentpricerisk.A.InterestRateRiskTheCompany'sinterestrateriskmainlyarisesfrombankloans.ThefinancialliabilitiesatfloatinginterestratesbringtheCompanytheinterestrateriskoncashflow,whilethefinancialliabilitiesatfixedinterestratesbringtheCompanytheinterestrateriskonfairvalue.TheCompanydecidestherelativeproportionoffixedinterestratecontractsandfloatinginterestratecontractsaccordingtothecurrentmarketenvironment.
AsofDecember31,2023,theCompany'sinterest-bearingliabilitiesunderfloatingratecontractsdenominatedinRMBamountedtoRMB550,000,000.00andthoseunderfixedratecontractsdenominatedinRMBamountedtoRMB1,462,279,691.67.B.ExchangeRateRisk
NotestotheFinancialStatementsTheCompany'sexposuretoforeignexchangerisksisprimarilyrelatedtotheCompany'soperatingactivities(whenrevenuesandexpendituresaresettledinforeigncurrenciesotherthantheCompany'saccountingstandardcurrency)anditsnetinvestmentsinitsoverseassubsidiaries.TheCompany'sexposuretoforeignexchangerisksismainlyrelatedtoUSdollars.ExceptthatsomeoftheCompany'ssubsidiariespurchaseandsellinUSdollars,othermajorbusinessactivitiesoftheCompanyarepricedandsettledinRMB.AsatDecember31,2023,theCompany'sassetsandliabilitiesareinRMB,excepttheassetsorliabilitiesdescribedinthetablebelowareinUSdollars.
TheforeignexchangerisksarisingfromtheassetsandliabilitiesofsuchforeigncurrencybalancesmayhaveanimpactontheCompany'soperatingresults.
| Items | ClosingBalance | OpeningBalance |
| Monetaryfunds | 132,735,270.36 | 26,078,226.16 |
| OtherPayable | 60,753,187.26 | |
| Short-termborrowing | 208,938,000.00 |
Thecompanyadoptssensitivityanalysistechnologytoanalyzethepossibleimpactofreasonableandpossiblechangesofriskvariablesoncurrentprofitandlossorowner'sequity.Asanyriskvariablerarelychangesinisolation,andthecorrelationbetweenvariableswillhaveasignificanteffectonthefinalimpactamountofariskvariablechange,thefollowingcontentiscarriedoutundertheassumptionthatthechangeofeachvariableisindependent.
Ontheassumptionthatforeigncurrencyassetsandforeigncurrencyliabilitiesremainrelativelystableandothervariablesremainunchanged,theafter-taximpactofpossiblereasonablechangesinexchangerateoncurrentprofitsandlossesandrightsandinterestsisasfollows:
| Item | Currentperiod | ||
| [USdollar]ExchangerateIncrease/(decrease) | Grossprofit/netprofitincrease/(decrease) | Increase/(decrease)inshareholders'equity | |
| TheRMByuandepreciatedagainsttheUSdollar | 5% | 9,674,422.88 | 9,674,422.88 |
| TheRMByuanappreciatedagainsttheUSdollar | -5% | -9,674,422.88 | -9,674,422.88 |
(Continued)
| Item | Priorperiod | ||
| [USdollar]ExchangerateIncrease/(decrease) | Grossprofit/netprofitincrease/(decrease) | Increase/(decrease)inshareholders'equity | |
| TheRMByuandepreciatedagainsttheUSdollar | 5% | -9,142,988.69 | -9,142,988.69 |
| TheRMByuanappreciatedagainsttheUSdollar | -5% | 9,142,988.69 | 9,142,988.69 |
2.Hedging
(1)TheCompanyundertakeriskmanagementthroughhedgingoperation
| Item | Correspondingriskmanagementstrategyandtarget | Qualitativeandquantitativeinformationonhedgedrisk | Theeconomicrelationshipbetweenthehedgedproject&relevanthedgedinstruments | Expectedeffectiveachievementofriskmanagementobjectives | Effectsofriskexposurefromtherelevanthedgedactivities |
| Grease&Oil/Oilseed | Usingthehedgingfunctionoffuturesinstrumentstocarryouthedgingbusiness,effectivelyavoidtheriskofmarketpricefluctuations,inordertoachievestablemanagement | Qualitative:non-creditrisk,includingbasisrisk,substituterisk,supply-demandrisketc.Quantitative:marketpricefluctuationforthehedgedprojectandinstruments | ExpectedFairvalueorcashflowduetothehedgedriskofhedgedprojectandrelevanthedginginstrumentsmoveinoppositedirectionBytheChangeswiththesamebasevariableorsimilarbasevariablethatiseconomicallyrelevant | Thetargetofexpectedriskmanagementhasbeenbasicallyachieved | Effectivelyavoidriskexposure |
(2)Thecompanyconductseligiblehedgingbusinessandapplieshedgingaccounting
Basisforadoptinghedgeaccounting,includinganitemizedexplanationofallhedgeditemsunderthefairvaluehedge,cashflowhedge,andthehedgeofnetinvestmentinanoverseasoperation,aswellasthecorrespondinghedginginstruments,theriskstobehedged,theaccountingperiodinwhichsuchhedgingrelationshipisspecified,thestandardsfordeterminingtheeffectivenessofhedge,etc.Thehedgeaccountingtreatmentmethodsshallbespecified.
| Item | BookvaluerelatedtothehedgedItemandinstruments | HedgingAdjustmentsonbookvalueofhedgeditemwhichhasbeenrecognized,inwhichcomprisesofhedgeditemaccumulatedfairvalue | Hedgingvalidityandsourcesofhedginginvalidityaspect | Effectofhedgingaccountingonthecompany'sfinancialstatements |
| HedgingRiskType | ||||
| Risktochangesinthefairvalueofhedging | 223,847,543.04 | 223,847,543.04 | EffectiveHedging | 63,432,818.33 |
| HedgingType | ||||
| Fairvaluehedging | 15,879,226.12 | 15,879,226.12 | EffectiveHedging | 63,432,818.33 |
XIDisclosureofFairValues
1.Fairvaluesofassetsandliabilitiesmeasuredatfairvalueattheendoftheperiod
| Item | FairValuesattheEndofthePeriod | |||
| FirstLevelFairValueMeasurement | SecondLevelFairValueMeasurement | ThirdLevelFairValueMeasurement | Total | |
| One.Continuousfairvaluemeasurement | ||||
| Ⅰ.Transactionalfinancialassets | 31,684,620.00 | 31,684,620.00 | ||
| 1.Financialassetsthataremeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitsandlosses | 31,684,620.00 | 31,684,620.00 | ||
| (1)Investmentindebtinstruments | ||||
| Item | FairValuesattheEndofthePeriod | |||
| FirstLevelFairValueMeasurement | SecondLevelFairValueMeasurement | ThirdLevelFairValueMeasurement | Total | |
| (2)Investmentinequityinstruments | ||||
| (3)Derivativefinancialassets | 31,684,620.00 | 31,684,620.00 | ||
| 2.Financialassetsdesignatedasfairvaluethroughprofitorloss | ||||
| (1)Investmentindebtinstruments | ||||
| (2)Investmentinequityinstruments | ||||
| (3)Others | ||||
| Ⅱ.Otherdebtinvestment | ||||
| Ⅲ.Investmentinotherequityinstruments | 20,000,000.00 | 20,000,000.00 | ||
| Totalassetscontinuouslymeasuredatfairvalue | 31,684,620.00 | 20,000,000.00 | 51,684,620.00 | |
| Ⅵ.Transactionalfinancialliabilities | 15,805,393.88 | 15,805,393.88 | ||
| 1.Financialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses | 15,805,393.88 | 15,805,393.88 | ||
| Including:transactionalbondsissued | ||||
| derivativefinancialliability | 15,805,393.88 | 15,805,393.88 | ||
| others | ||||
| 2.Financialliabilitiesdesignatedasfairvaluethroughprofitorloss | ||||
| Totalliabilitiescontinuouslymeasuredatfairvalue | 15,805,393.88 | 15,805,393.88 | ||
2.Basisfordeterminingmarketpricesofcontinuousandnon-continuousfirstlevelfairvaluemeasurementitems
NotestotheFinancialStatementsTheCompanymakesoffersforfirstlevelfairvaluemeasurementaccordingtoopencontractsofthefuturesexchangeandthequotefromthebankonfinancialproductattheendoftheperiod.
3.Continuousandnon-continuousthird-levelfairvaluemeasurementitemsadoptvaluationtechniquesandqualitativeandquantitativeinformationofimportantparameters
Thecompany'sinvestmentinotherequityinstrumentsofthethirdlevelfairvaluemeasurementprojectisthe“threenotes”equityinvestmentthatwithoutcontrol,jointcontrolandsignificantinfluenceheldbythecompany.Onthebasisofanalyzingtheoperationstatusoftheinvestedenterpriseandcombiningwithrelevantsituations,thecompanytakestheinvestmentcostasthefairvalueofotherequityinstrumentinvestmentformeasurementattheendoftheperiod.XIIRelatedPartiesandRelatedPartyTransactions
1.ParentCompanyoftheCompany
| NameofParentCompany | RegisteredPlace | NatureofBusiness | RegisteredCapital(tenthousandYuan) | ProportionofSharesHeldbyParentCompanyintheCompany(%) | ProportionofVotingPowerHeldbyParentCompanyintheCompany(%) |
| BeijingGrainGroupCo.Ltd. | Beijing | InvestmentManagement | 90,000.00 | 39.68 | 39.68 |
Note:TheultimatecontrollingpartyisBeijingState-ownedCapitalOperationManagementCo.,Ltd.
2.SubsidiariesoftheCompany
See1.EquityinSubsidiariesunderSectionVIIIoftheNotesfordetails.。
3.JointVenturesandAffiliatesoftheCompany
See2.EquityinJointVenturesorAffiliatesunderSectionVIIIoftheNotesfordetails.
4.OtherRelatedParties
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingSugarCigaretteAndWineGroupCo.,Ltd.SugarManagementBranch | Controlledbytheultimatecontrollingparty |
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingErshangGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingGuchuanFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| ShandongFukuanBioengineeringCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingliangDongfangGrainandOilTradingCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingFoodGroupCo;,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingShounongDevelopmentCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingHuayuFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| ShanghaiShounongInvestmentHoldingsCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingCentennialLiyuanEcologicalAgricultureCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingChangyangFarmingCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingSouthernRuralAgriculturalProductionandOperationManagementCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingSanyuanFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingAilaiFaxiFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingtangShengshiMeiliHuaTradingCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingBeishuiYongxingProductSalesCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingErshangJinghuaTeaIndustryCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingLiubijuFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingErshangMoqiZhonghongFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingVegetableCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingYueshengzhaiQingzhenFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingYanxiYueshengzhaiQingzhenFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingErshangDahongmenFiveMeatUnionFoodCo.Ltd | Controlledbytheultimatecontrollingparty |
| BeijingErshangMuxiangyuanQingzhenMeatFoodCo.Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingShounongDiantoNetCommercialChainCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingAncientShipRiceIndustryCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShuangtongHuiheAgriculturalScienceandTechnologyDevelopmentCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHeiliuAnimalHusbandryTechnologyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHeiliuAnimalHusbandryTechnologyCo.,LtdFoodCentre | Controlledbytheultimatecontrollingparty |
| HeilongjiangGannanShuangheRiceIndustryCo.Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingHuaduSalesCo.Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingShounongGrainReserveCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingFoodSupplyDepartmentNo.34SupplyDepartmentCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingWuhuanShuntongSupplyChainManagementCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongCommercialChainCo.,Ltd | Controlledbytheultimatecontrollingparty |
| HebeiAnpingDahongmenFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| KaifengDahongmmenMeatFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingJingliangBiotechnologyGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingXingFashionTradingCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongFoodGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| HebeiLuanpingHuaduFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingCailanziGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShouchengShanshuiRealEstateCo.,Ltd | Controlledbytheultimatecontrollingparty |
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingBaijiayiFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| HebeiSanyuanFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingBeifangJingtangYangjiuSalesCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingHaiyunxingshuichanFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingLiubijuFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingLanfengVegetableDistributionCo.,Ltd | Controlledbytheultimatecontrollingparty |
| TianjinXinchengKangdaPharmaceuticalCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingliangTaiyuRealEstateCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingGrainScienceResearchInstituteCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingZhangxinGrainReserveCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHaidianWestSuburbGrainandOilSupplyStationCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingmenLianshiAssetOperationManagementCo.Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingSanjiadianGrainCollectionandStorageCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingduJingguGrainPurchaseandSalesCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingTaoshanGrainReserveCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingLongqingXiaduMilitaryFoodSupplyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongFoodGroupFinanceCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShenghuaSiheAssetManagementCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingDeshengHotelCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongConsumptionPovertyAlleviationandInnovationCenterCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongCommercialChainCo.,Ltd.YanqingBranch | Controlledbytheultimatecontrollingparty |
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingShounongXiangshanConferenceCentreCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingShounongXiangshanCommercialCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingBeijiaoFarmCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingYanqingFarmCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingtangDingshengTradingCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingJingliangE-CommerceCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingWangZhiheFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingSanyuanSeedIndustryTechnologyCo.,LtdFeedingCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| HebeiShounongModernAgriculturalTechnologyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongWeiyeGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingErshangXijieFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingZhujunGrainandOilSupplyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingChildrensoldiersgrainandoilsupplyCo.,L | Controlledbytheultimatecontrollingparty |
| BeijingShounongUniversityKitchenSupplyChainManagementGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHongyuanLijunGrainandOilSupplyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingFoodGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingNanyuanPlantOilFactory. | Controlledbytheultimatecontrollingparty |
| BeijingShounongEmergencySecurityCentreCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingDahongmenGrainStorageCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingXinanjiaoFoodCo.Ltd. | Controlledbytheultimatecontrollingparty |
| JingliangDiantoNet(Beijing)CommerceCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingYunongQualityAgriculturalProductsPlantingCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingGuchuanBreadFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingEtshangGroupCo.,LtdTaikangCulturalBranch | Controlledbytheultimatecontrollingparty |
Note：BeijingZhujunGrainandOilSupplyCo.,Ltd，BeijingHongyuanLijunGrainandOilSupplyCo.,Ltd.andBeijingChildrensoldiersgrainandoilsupplyCo.,Ltd.havebeencancelled.
5.Related-partyTransactions
(1)Related-partytransactionsforpurchasingandsellinggoodsandprovisionandacceptanceoflaborservicesPurchaseofgoodsoracceptanceoflaborservices
| RelatedParty | Related-partyTransaction | CurrentAmount | Amountoftransactionsapproved(intenthousandsYuan) | Whetherthetransactionlimitisexceeded | LastTermAmount |
| BeijingAncientShipRiceIndustryCo.,Ltd | Purchaseofgoods | 14,292,852.94 | 1,800.00 | No | 6,710,236.13 |
| ShanghaiShounongInvestmentHoldingsCo.,Ltd | Purchaseofgoods | 539,708,185.60 | 65,000.00 | No | |
| Otherrelatedentities | Purchaseofgoods | 5,247,471.99 | 1,400.00 | No | 12,256,382.94 |
| Otherrelatedentities | Acceptanceoflaborservices | 720,000.00 | 50.00 | Yes | 631,603.77 |
Saleofgoods/provisionoflaborservices
| RelatedParty | Related-partyTransaction | CurrentAmount | LastTermAmount |
| BeijingShounongDevelopmentCo.,Ltd. | Saleofgoods | 630,970.43 | |
| BeijingShounongDiantoNetCommercialChainCo.,Ltd | Saleofgoods | 218,197.97 | |
| BeijingChangyangFarmingCo.,Ltd | Saleofgoods | 203,934.49 | |
| BeijingFoodSupplyDepartmentNo.34SupplyDepartmentCo.,Ltd | Saleofgoods | 2,470,489.49 | 1,933,686.47 |
| BeijingErshangDahongmenFiveMeatUnionFoodCo.Ltd | Saleofgoods | 294,726.60 | |
| HebeiAnpingDahongmenFoodCo.,Ltd. | Saleofgoods | 990,192.64 | |
| HebeiLuanpingHuaduFoodCo.,Ltd | Saleofgoods | 41,460,731.02 | 24,869,269.53 |
| BeijingBaijiayiFoodCo.,Ltd | Saleofgoods | 2,949,855.06 | 1,634,422.04 |
| BeijingWuhuanShuntongSupplyChainManagementCo.,Ltd | Saleofgoods | 1,655,185.55 | 2,807,417.64 |
| BeijingSanyuanFoodCo.,Ltd | Saleofgoods | 555,614.68 | |
| BeijingAilaiFaxiFoodCo.,Ltd | Saleofgoods | 262,055.00 | |
| HebeiSanyuanFoodCo.,Ltd | Saleofgoods | 1,104,504.04 | 3,936,383.48 |
| BeijingLiubijuFoodCo.,Ltd | Saleofgoods | 6,806,152.29 | 5,233,334.94 |
| BeijingLanfengVegetableDistributionCo.,Ltd | Saleofgoods | 434,845.88 | 773,434.88 |
| BeijingGuchuanFoodCo.,Ltd | Saleofgoods | 467,677.57 | 1,398,392.53 |
| BeijingJingliangEastGrain&OilTradeCo.Ltd, | Saleofgoods | 4,599,856.82 | 5,706,941.17 |
| BeijingZhangxinGrainReserveCo.,Ltd | Saleofgoods | 1,873,412.84 | 1,487,322.95 |
| BeijingHaidianWestSuburbGrainandOilSupplyStationCo.,Ltd | Saleofgoods | 3,683,775.23 | 4,977,243.14 |
| BeijingJIngduJingguGrainPurchaseandSalesCo.,Ltd | Saleofgoods | 1,582,317.43 | 1,168,807.35 |
| BeijingLongqingXiaduMilitaryFoodSupplyCo.,Ltd | Saleofgoods | 409,541.28 | |
| BeijingShounongConsumptionPovertyAlleviationandInnovationCenterCo.,Ltd | Saleofgoods | 10,551,761.44 | 12,896,905.51 |
| BeijingShounongXiangshanCommercialCo.,Ltd. | Saleofgoods | 632,073.40 | |
| ShanghaiShounongInvestmentHoldingsCo.,Ltd | Saleofgoods | 431,726,713.75 | 214,613,311.32 |
| BeijingWangZhiheFoodCo.,Ltd | Saleofgoods | 22,972,286.89 | 66,830,285.30 |
| BeijingSanyuanSeedIndustryTechnologyCo.,LtdFeedingCo.,Ltd. | Saleofgoods | 57,986,292.75 | 57,112,231.88 |
| RelatedParty | Related-partyTransaction | CurrentAmount | LastTermAmount |
| HebeiShounongModernAgriculturalTechnologyCo.,Ltd | Saleofgoods | 18,014,186.33 | 19,281,001.32 |
| BeijingShounongWeiyeGroupCo.,Ltd | Saleofgoods | 17,523,217.37 | |
| BeijingErshangXijieFoodCo.,Ltd | Saleofgoods | 7,764,752.62 | |
| BeijingZhujunGrainandOilSupplyCo.,Ltd | Saleofgoods | 2,589,779.81 | |
| BeijingChildrensoldiersgrainandoilsupplyCo.,L | Saleofgoods | 1,790,825.70 | |
| BeijingShounongUniversityKitchenSupplyChainManagementGroupCo.,Ltd | Saleofgoods | 927,483.93 | |
| BeijingHongyuanLijunGrainandOilSupplyCo.,Ltd | Saleofgoods | 202,752.29 | |
| Other-relatedentities | Saleofgoods | 1,119,432.14 | 2,799,826.98 |
| BeijingCapitalAgribusiness&FoodsGroup | Provisionofservices | 11,438,400.93 | 11,113,947.81 |
| ShanghaiShounongInvestmentHoldingsCo.,Ltd | Provisionofservices | 16,755,090.46 | 5,392,403.90 |
Related-partytransactionsforpurchasingandsellinggoodsandprovisionandacceptanceoflaborservices:Thepriceofarelated-partytransactionshallbeequaltothepricechargedforaunrelated-partytransactionthatissameasorsimilartosuchrelated-partytransaction.
(2)Related-partylease
IftheCompanyisthelessor
| NameofLessee | TypeofLeasedAsset | LeaseIncomeRecognizedintheCurrentPeriod | LeaseIncomeRecognizedinthePriorPeriod |
| BeijingJingliangE-commerceCo.,Ltd. | Vehicle | 22,530.26 | 22,530.26 |
IftheCompanyisthelessee
| NameofLessee | TypeofLeasedAsset | Rentalcostofsimplifiedtreatmentofshort-termleaseandlow-valueleaseasset | Variableleasepaymentnotincludedinthecalculationofleaseliabilities | |||
| LeaseExpenseRecognizedintheCurrent | LeaseExpenseRecognizedin | LeaseExpenseRecognizedintheCurrent | LeaseExpenseRecognized | |||
| Period | thePriorPeriod | Period | inthePriorPeriod | ||
| BeijingGrainGroupCo.,Ltd. | Houseleasing | 792,986.42 | 1,048,715.69 | ||
| BeijingNanyuanPlantOilFactory | Houseleasing | 323,809.52 | 331,694.32 | ||
| BeijingShounongFoodEmergencySecurityCentre | Houseleasing | 2,408,256.88 | 2,339,449.54 | ||
| BeijingShounongDevelopmentCo.,Ltd. | Houseleasing | 2,747,664.01 | |||
| BeijingDahongmenGrainStorageCo.,Ltd | Houseleasing | 417,672.07 | 626,936.95 | ||
| BeijingXinanjiaoFoodCo.Ltd. | Houseleasing | 44,036.70 | |||
| BeijingGrainScienceResearchInstituteCo.,Ltd | Houseleasing |
(Continued)
| NameofLessee | Paymentofrent | Interestexpenseonleaseliabilities | Increaseinright-of-useassets | |||
| LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | |
| BeijingGrainGroupCo.,Ltd. | 860,000.00 | |||||
| BeijingNanyuanPlantOilFactory | 340,000.00 | 348,279.04 | ||||
| NameofLessee | Paymentofrent | Interestexpenseonleaseliabilities | Increaseinright-of-useassets | |||
| LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | |
| BeijingShounongEmergencySecurityCentreCo.,Ltd. | 2,625,000.00 | 2,550,000.00 | ||||
| BeijingShounongDevelopmentCo.,Ltd. | 2,994,953.76 | |||||
| BeijingDahongmenGrainStorageCo.,Ltd | 438,555.67 | 658,283.79 | ||||
| BeijingXinanjiaoFoodCo.Ltd. | 48,000.00 | |||||
| BeijingGrainScienceResearchInstituteCo.,Ltd | 28,080,000.00 | 3,970,789.04 | - | 117,043,974.80 | ||
(3)Remunerationforkeymanagementstaff
| Item | CurrentAmount(Unit:tenthousandyuan) | LastTermAmount(Unit:tenthousandyuan) |
| RemunerationforKeyManagementStaff | 1,074.56 | 1,168.45 |
(4)OtherRelated-partyTransactions
| GuaranteedParty | Related-partyTransaction | CurrentAmount | LastTermAmount |
| BeijingDahongmenFoodstuffStorage | Heatingcost,cleaningservice,electricityfees | 84,663.79 | |
| BeijingShounongDevelopmentCo.,Ltd. | Utilities,propertyfees | 129,970.81 | |
| BeijingShounongXiangshanConferenceCentreCo.,Ltd. | Conferenceservicefees | 44,130.38 | |
| BeijingShounongFoodGroupFinanceCo.,Ltd. | Interestincome | 5,553,229.60 | 2,295,571.07 |
| BeijingGuchuanFoodCo.,Ltd. | Brandroyalty | 2,168,860.67 | 2,601,649.71 |
| BeijingGuchuanRiceCo.,Ltd. | Brandroyalty | 148,171.96 | 140,583.79 |
| BeijingJingliangDongfangGrainandOilTradingCo.,Ltd. | Brandroyalty | 1,205.83 | 2,996.50 |
6.RelatedpartyReceivablesandPayables
(1)Receivables
| Item | Related-party | ClosingBalance | OpeningBalance | ||
| BookBalance | ProvisionforBadDebts | BookBalance | ProvisionforBadDebts | ||
| Monetaryfunds | BeijingshounongFoodGroupFinanceCo.,Ltd | 890,056,629.88 | 339,487,167.33 | ||
| Receivables | BeijingFoodSupplyDepartmentNo.34SupplyDepartmentCo.,Ltd | 67,680.00 | 279,035.00 | ||
| Receivables | BeijingErshangDahongmenFiveMeatUnionFoodCo.Ltd | 477.00 | |||
| Receivables | HebeiAnpingDahongmenFoodCo.,Ltd. | 86,000.00 | |||
| Item | Related-party | ClosingBalance | OpeningBalance | ||
| BookBalance | ProvisionforBadDebts | BookBalance | ProvisionforBadDebts | ||
| Receivables | KaifengDahongmmenMeatFoodCo.,Ltd. | 64,500.00 | |||
| Receivables | BeijingShounongDiantoNetCommercialChainCo.,Ltd | 53,886.00 | 95,120.40 | ||
| Receivables | HebeiLuanpingHuaduFoodCo.,Ltd | 3,619,958.60 | 3,548,214.00 | ||
| Receivables | BeijingbaijiayiFoodCo.,Ltd | 228,000.00 | 180,695.00 | ||
| Receivables | BeijingSanyuanFoodCo.,Ltd | 112,290.00 | |||
| Receivables | BeijingLanfengVegetableDistributionCo.,Ltd | 36,765.00 | 84,200.00 | ||
| Receivables | BeijingErshangGroupCo.,Ltd | 13,200.00 | |||
| Receivables | BeijingJingliangDongfangGrainandOilTradingCo.,Ltd. | 212,077.75 | 1,198,484.00 | ||
| Receivables | BeijingZhangxinGrainReserveCo.,Ltd | 99,000.00 | 665,000.00 | ||
| Receivables | BeijingShounongConsumptionAssistanceInnovationandEntrepreneurshipCenterCo.,Ltd. | 399,500.00 | 1,737,500.00 | ||
| Receivables | ShanghaiSunlonInvestmentHOLDINGSLtd. | 677,093.11 | |||
| Receivables | FeedBranchofBeijingSanyuanSeedTechnologyCo.,Ltd | 2,271,574.62 | 2,056,939.44 | ||
| Item | Related-party | ClosingBalance | OpeningBalance | ||
| BookBalance | ProvisionforBadDebts | BookBalance | ProvisionforBadDebts | ||
| Receivables | HebeiShounongModernAgriculturalTechnologyCo.,Ltd | 1,047,816.96 | |||
| Receivables | HebeiSanyuanFoodCo.,Ltd | 1,685,000.00 | |||
| Receivables | BeijingGuchunFoodCo.,Ltd | 82,800.00 | |||
| Receivables | BeijingHaidianWestSuburbGrainandOilSupplyStationCo.,Ltd | 82,500.00 | |||
| Receivables | BeijingShouchengShanshuiRealEstateCo.,Ltd | 33,355.00 | |||
| Receivables | BeijingYunongQualityAgriculturalProductsPlantingCo.,Ltd | 3,120.00 | |||
| OtherReceivables | BeijingGuchuanRiceIndustryCo.Ltd | 50,000.00 | 50,000.00 | ||
| OtherReceivables | BeijingDahongmenGrainStorageCo.,Ltd | 55,232.00 | |||
(2)Payables
| Item | Related-party | ClosingBalance | OpeningBalance |
| Payables | BeijingNanjiaoAgriculturalProductionOperationManagementCo.Ltd. | 410.00 | |
| Payables | BeijingSugarCigaretteAndWineGroupCo.,Ltd.SugarManagementBranch | 3,763.10 | |
| Payables | BeijingErshangMeatGroupCo.,Ltd | 3,633.06 | |
| Payables | BeijingErshangDahongmenFiveMeatUnionFoodCo.Ltd | 96.79 | 19,115.04 |
| Payables | BeijingShounongDevelopmentCo.,Ltd | 559,500.00 |
| Item | Related-party | ClosingBalance | OpeningBalance |
| Payables | BeijingShounongGrainReserveCo.,Ltd | 720,000.00 | |
| Payables | BeijingGuchunFoodCo.,Ltd | 464,000.00 | 240,000.00 |
| Payables | BeijingHeiliuAnimalHusbandryTechnologyCo.,Ltd | 2,826.00 | |
| Payables | BeijingCentennialLiyuanEcologicalAgricultureCo.,Ltd | 110.00 | |
| Payables | BeijingSanyuanFoodCo.,Ltd | 50.48 | |
| Otherpayables | BeijingEtshangGroupCo.,LtdTaikangCulturalBranch | 210.00 | |
| Otherpayables | BeijingGrainGroupCo.,Ltd. | 3,456,200.00 | 2,862,750.30 |
| Otherpayables | HebeiSanyuanFoodCo.,Ltd | 140,000.00 | |
| Otherpayables | BeijingJingliangE-CommerceCo.,Ltd | 42,432.00 | 67,891.21 |
| Otherpayables | ShanghaiSunlonInvestmentHOLDINGSLtd. | 188,422.48 | |
| Contractliability | BeijingShuangtongHuiheAgriculturalScienceandTechnologyDevelopmentCo.,Ltd | 2,201.83 | |
| Contractliability | ShanghaiSunlonInvestmentHOLDINGSLtd. | 7,259,750.24 | 3,448,410.37 |
| Contractliability | BeijingLiubijuFoodCo.,Ltd | 59,300.00 | |
| Contractliability | BeijingJingliangDongfangGrainandOilTradingCo.,Ltd. | 15,088.20 | |
| Contractliability | BeijingWuhuanShuntongSupplyChainManagementCo.,Ltd | 3,192.54 | |
| Contractliability | BeijingShounongCommercialChainCo.,Ltd | 293.20 | |
| Otherpayables | BeijingShuangtongHuiheAgriculturalScienceandTechnologyDevelopmentCo.,Ltd | 198.17 | |
| Otherpayables | ShanghaiSunlonInvestmentHOLDINGSLtd. | 653,377.52 |
XIIISharebasedpayment
Therearenosharebasedpaymentsincurredthisyearforthecompany.XIVCommitmentsandContingencies
NotestotheFinancialStatementsBytheendofthisreport,thecompanyanditsholdingsubsidiarieshaveapprovedtheamountofguarantee5.359billionyuan,andtheactualamountofguaranteeofthecompanyanditsholdingsubsidiariesis1.167billionyuan,accountingfor36.84%ofthecompany'sauditednetassetsattributabletotheparentcompanyinthelatestperiod,whichareallguaranteesbetweenthecompanyanditsholdingsubsidiaries.ThereisnoguaranteeprovidedbytheCompanyanditsholdingsubsidiarytoanyentityotherthantheconsolidatedstatement,andthereisnodelayinexternalguarantee,guaranteeinvolvinglitigationorlossduetothejudgmentoflossduetoguarantee.XVEventsaftertheBalanceSheetDateDistributionofProfits
| Proposedallocationofdividends(yuan)perevery10shares | 0.71 |
| Dividends(yuan)declaredafterreviewandapprovalperevery10shares | 0.71 |
| Profitdistributionplan | TheCompanyheld11thmeetingof10thsessionboardofdirectorson28March2024,consideringtheadoptionYear2023AnnualProfitDistributionPlan,agreedtoissuecashbonusintotalof51,613,467.82yuan,at0.71yuan(includingtax)per10sharesforallshareholders,whichisbasedonthetotalsharesof726,950,251.00on31Dec2023,thereforethetotalpayoutratiothereforeamountingto50.43%.Theschemesofdistributionofprofitsshalldistributecashdividendswithoutbonussharesissuingorconversionofcapitalreservefundstosharecapital. |
XVIOtherImportantMatters
1.AnnuityPlanBasicinformationofannuity:BeijingJingliangFoodCo.,Ltd.,Jingliang(Tianjin)grainandOilIndustryCo.,Ltd.,BeijingGuchuanOilCo.,Ltd.,BeijingEisenLubaoOilCo.,Ltd.,BeijingJingliangOilCo.,Ltd.andBeijingGuchuanBreadFoodCo.,Ltd.ofthecompanyparticipatedintheenterpriseannuityplanofBeijingshounongFoodGroupCo.,Ltd.,andformulatedtheimplementationrulesoftheirrespectiveenterprisesundertheannuityplan.ThenameoftheannuityplanisPingAnJinxiulifeenterpriseannuityplan;thetrusteeandaccountmanagerarepinganEndowmentInsuranceCo.,Ltd.;thetrusteeisChinaCITICBankCo.,Ltd.
2.InformationofDivision
(1)BasisofdeterminationandaccountingpoliciesforreportingofdivisionsTheCompany'sbusinessesconsistoffoodprocessing,oilandgreaseandsoonaccordingtoitsinternalorganizationalstructure,managementrequirementsandinternalreportingsystem.TheCompany'smanagementregularlyevaluatestheoperatingresultsofthesedivisionstodeterminetheallocationofresourcestothemandevaluatetheirperformance.Theinformationreportedbydivisionsshouldbedisclosedaccordingtotheaccountingpoliciesandmeasurementstandardsadoptedbysuchdivisionswhentheyarereportingtothemanagement.Thesemeasurementbasesshouldbeconsistentwiththeaccountingandmeasurementbasesforpreparationoffinancialstatements.
(2)Reportingofthefinancialinformationofdivisions
| Item | FoodProcessing | Oil&Grease | OffsetAmongDivisions | Total |
| Operatingincome | 935,184,271.41 | 10,909,755,649.64 | 10,406.73 | 11,844,929,514.32 |
| Operatingcosts | 714,515,550.37 | 10,787,126,093.80 | 10,406.73 | 11,501,631,237.44 |
| Totalassets | 982,747,268.12 | 5,875,035,716.78 | 361,000,000.00 | 6,496,782,984.90 |
| Totalliabilities | 130,404,007.61 | 3,152,047,678.25 | 361,000,000.00 | 2,921,451,685.86 |
XVIINotestoMainFinancialStatementItemsofParentCompany
1.OtherReceivable
| Item | ClosingBalance | OpeningBalance |
| Dividendsreceivable | 150,000,000.00 | |
| Otherreceivables | 950,000,000.00 | 199,000,000.00 |
| Total | 950,000,000.00 | 349,000,000.00 |
(1)DividendReceivable
| Item(s) | ClosingBalance | OpeningBalance |
| DividendreceivableaccountingageWithin1Year | 150,000,000.00 | |
| Including(1)BeijingJingliangFoodCo.,Ltd. | 150,000,000.00 | |
| Total | 150,000,000.00 |
(2)OtherReceivablesA.Disclosedaccordingtoaging
| Aging | ClosingBalance | OpeningBalance |
| Within1Year(including1year) | 800,000,000.00 | 29,000,000.00 |
| 1to2years(including2years) | 29,000,000.00 | 170,000,000.00 |
| 2to3years(including3years) | 121,000,000.00 | |
| Total | 950,000,000.00 | 199,000,000.00 |
B.Classificationofotherreceivablesbynatureoffunds
| NatureofFunds | BookBalanceatEndofPeriod | BookBalanceatBeginningofYear |
| IntercourseFundsofEntities | 950,000,000.00 | 199,000,000.00 |
| Total | 950,000,000.00 | 199,000,000.00 |
C.Otherreceivablesaccordingtotopfiveofbalanceatendofperiodcollectedbydebtors
| NameofOrganization | BalanceatEndofPeriod | ProportioninoverallClosingBalanceofotherreceivables(%)%) | NatureofFunds | Aging | ClosingBalanceofbaddebtreserves |
| BeijingJingliangFoodCo.,Ltd. | 950,000,000.00 | 100.00 | Relatedpartyborrowing | Within3years | |
| Total | 950,000,000.00 | 100.00 |
2.Long-termEquityInvestment
| Item | ClosingBalance | ||
| BookBalance | ProvisionforImpairment | BookValue | |
| Investmentinsubsidiaries | 2,625,657,283.19 | 2,625,657,283.19 | |
| Total | 2,625,657,283.19 | 2,625,657,283.19 | |
(Continued)
| Item | OpeningBalance | ||
| BookBalance | ProvisionforImpairment | BookValue | |
| Investmentinsubsidiaries | 2,619,157,283.19 | 2,619,157,283.19 | |
| Total | 2,619,157,283.19 | 2,619,157,283.19 | |
Investmentinsubsidiaries
| InvestedEntity | OpeningBalance | CurrentIncrease | CurrentDecrease | ClosingBalance | CurrentProvisionforImpairment | ClosingBalanceofProvisionforImpairment |
| BeijingJingliangFoodCo.,Ltd. | 2,336,639,964.05 | 2,336,639,964.05 | ||||
| ZhejianglittleprinceFoodCo.,Ltd | 249,017,319.14 | 249,017,319.14 | ||||
| Jingliang(Yangpu)GrainandOilIndustryCo.,Ltd. | 6,500,000.00 | 6,500,000.00 | ||||
| Jingliang(Caofeidian)AgriculturalDevelopmentCo.,Ltd. | 25,500,000.00 | 25,500,000.00 | ||||
| Jingliang(Beijing)FoodMarketingManagementCo.,Ltd | 8,000,000.00 | 8,000,000.00 | ||||
| Total | 2,619,157,283.19 | 6,500,000.00 | 2,625,657,283.19 |
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023
3.OperatingIncomeandOperatingcostsDetailsofoperatingincomeandoperatingcosts
| Item | CurrentAmount | LastTermAmount | ||
| Income | Cost | Income | Cost | |
| Otherbusinesses | 12,240,221.13 | 341,162.52 | 11,768,886.09 | 341,162.52 |
| Total | 12,240,221.13 | 341,162.52 | 11,768,886.09 | 341,162.52 |
4.Incomefrominvestment
| Sourcesofinvestmentincome | CurrentAmount | LastTermAmount |
| Longtermequityinvestmentincomecalculatedbycostmethod | 300,509,614.85 | 163,430,984.15 |
| Total | 300,509,614.85 | 163,430,984.15 |
XVIII.SupplementaryInformation
1.Detailsofnon-recurringprofitandlossinthereportingperiod
| Detailsofnon-recurringprofitandloss | Amount | Note |
| Gainsandlossesondisposalofnoncurrentassets，includingprovisionforassetimpairmentwrite-offportion | 3,689,977.61 | |
| Governmentsubsidiesincludedinthecurrentprofitsandlosses(closelyrelatedtothebusinessoftheenterprise,exceptthegovernmentsubsidiesenjoyedaccordingtothenationalunifiedstandardquotaorquantitative) | 4,051,043.54 | |
| Inadditiontotheeffectivehedgingbusinessrelatedtothenormalbusinessofthecompany,theprofitandlossfromchangesinfairvaluearisingfromtheholdingoffinancialassetsandfinancialliabilitiesbynon-financialenterprises,aswellastheinvestmentincomefromthedisposaloffinancialassetsandfinancialliabilities | 586,238.54 | |
| Incomefromcustodialfeesobtainedfromentrustedoperations | 11,438,400.93 | |
| Othernon-operatingincomeandexpensesotherthantheabove | 3,098,255.84 | |
| Otherprofitandlossitemsthatmeetthedefinitionofnonrecurringprofitandloss | ||
| Less:amountaffectedbyincometax | 2,545,032.87 | |
| Nonrecurringprofitandlossattributabletominorityshareholders(aftertax) | 649,766.78 | |
| Total | 19,669,116.81 |
2.Returnonequityandearningspershare
HainanJingliangHoldingsCo.,Ltd.AnnualReport2023Situationonreturnonequityandearningspershare
| CurrentProfit | WeightedReturnonAverageEquity(ROAE)(%) | EPS | |
| BasicEPS | DilutedEPS | ||
| NetprofitattributabletotheCompany'scommonshareholders | 3.29 | 0.14 | 0.14 |
| Netprofitattributabletocommonshareholdersafterdeductionofnon-recurringgainsandlosses | 2.65 | 0.11 | 0.11 |
HainanJingliangHoldingsCo.,Ltd.
30March2024