司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Short Form of the Stock: ST Donghai-A, ST Donghai-B Stock Code: 000613, 200613
Hainan Dadonghai Tourism Centre (Holdings)
Co., Ltd.
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Semi-Annual Report 2013
(Full Text)
Disclosure Date: 30 August 2013
1
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section I. Important Notice, Contents and Paraphrase
Important Notice:
Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd. (hereinafter referred to as the
Company) hereby confirm that there are no any fictitious statements, misleading statements, or
important omissions carried in this report, and shall take all responsibilities, individual and/or
joint, for the reality, accuracy and completion of the whole contents.
Li Yuanbin, principal of the Company, Chen Liurong, person in charger of accounting works
and Li Zhi, person in charge of accounting organ (accounting principal) hereby confirm that
the Financial Report of Semi-Annual Report 2013 is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
The Company has no plans of cash dividend distributed, no bonus shares and has no share
converted from capital reserve either.
Concerning the forward-looking statements with future planning involved in the Semi-Report,
they do not constitute a substantial commitment for investors. Investors are advised to exercise
caution of investment risks.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Content
Semi-Annual Report 2013 ...................................................................................................................1
Section I Important Notice, Contents and Paraphrase .........................................................................4
Section II Company Profile..................................................................................................................5
Section III Accounting data and summary of finnaical indexes ..........................................................7
Section IV Report of the Board of Directors .......................................................................................9
Section V Important Events ...............................................................................错误！未定义书签。
错误
Section VI Changes in shares and particular about shareholders ......................................................20
Section VII Directors, Supervisors and Senior Executives ..............................................................24
Section VIII Financial Report ............................................................................................................25
Section IX Documents Available for Reference ...............................................................................96
3
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Paraphrase
Items Refers to Definition
CSRC Refers to China Securities Regulation Commission
SSE Refers to Shenzhen Stock Exchange
Company Law Refers to Company Law of The People’s Republic of China
Securities Law Refers to Securities Law of The People’s Republic of China
Company/the Company Refers to Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Article of Association of Hainan Dadonghai Tourism Centre
Article of Association Refers to
(Holdings) Co., Ltd.
Shareholders’ General Meeting of Hainan Dadonghai
Shareholders’ General Meeting Refers to
Tourism Centre (Holdings) Co., Ltd.
Board of Hainan Dadonghai Tourism Centre (Holdings) Co.,
Board Refers to
Ltd.
Supervisory Committee of Hainan Dadonghai Tourism
Supervisory Committee Refers to
Centre (Holdings) Co., Ltd.
Yuan Refers to RMB/CNY
Risk Warning
Securities Times, Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) are the
media for information disclosure appointed by the Company for year of 2013, all information under
the name of the Company disclosed on the above said media shall prevail
The report is prepared in bilingual versions of Chinese and English respectively, in the event of any
discrepancy in understanding the two aforementioned versions, the Chinese version shall prevail.
Investors are advised to exercise caution of investment risks.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section II Company profile
I. Company Profile
Short form for share ST Donghai-A , ST Donghai-B Code for share 000613, 200613
Short form for share after the
N/A
change (if applicable)
Listing stock exchange Shenzhen Stock Exchange
Chinese name of the Company 司公限有份股心中游旅海东大南海
Abbr. of Chinese name of the
Company(if applicable)
海东大
English name of the
Hainan Dadonghai Tourism Centre (Holdings) Co.,Ltd.
Company(if applicable)
Abbr. of English name of the
DADONGHAI
Company(if applicable)
Legal Representative Li Yuanbin
II. Contact person and ways
Secretary of the Board Rep. of securities affairs
Name Wang Hongjuan
Contact adds. Dadonghai Sanya
Tel. 0898-88219921
Fax. 0898-88214998
E-mail hnddhhn@21cn.com
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in
reporting period or not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in
reporting period, found more details in Annual Report 2012.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC
and preparation place for semi-annual report have no change in reporting period, found more details in Annual
Report 2012.
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of taxation
registration and organization code have no change in reporting period, found more details in Annual Report 2012.
4. Other relevant information
Whether other relevant information has changed in reporting period or not
□ Applicable √ Not applicable
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed
and accounting error correction or not
□Yes √ No
Same period of Increase/decrease in this report
Current period
last year y-o-y (%)
Operating revenue (RMB) 14,778,787.50 20,425,639.30 -27.65%
Net profit attributable to shareholders of the
-481,971.51 589,416.25 -181.77%
listed company(RMB)
Net profit attributable to shareholders of the
listed company after deducting -556,917.86 432,477.66 -228.77%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
2,947,494.11 -284,159.33 1,137.26%
activities(RMB)
Basic earnings per share (RMB/Share) -0.0013 0.0016 -181.25%
Diluted earnings per share (RMB/Share) -0.0013 0.0016 -181.25%
Weighted average ROE (%) -0.57% 0.72% -1.29%
End of current End of last Increase/decrease in this report-end
period period over that of last period-end (%)
Total assets (RMB) 117,760,824.84 115,785,974.55 1.71%
Net assets attributable to shareholder of
83,629,196.31 84,111,167.82 -0.57%
listed company(RMB)
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of Net assets attributable to shareholders of
listed company listed company
Amount in this Amount at
Amount in last period Amount at period-begin
period period-end
Chinese GAAP -481,971.51 589,416.25 83,629,196.31 84,111,167.82
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Items and amount adjusted by IAS
IAS -481,971.51 589,416.25 83,629,196.31 84,111,167.82
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of Net assets attributable to shareholders of
listed company listed company
Amount in this Amount at
Amount in last period Amount at period-begin
period period-end
Chinese GAAP -481,971.51 589,416.25 83,629,196.31 84,111,167.82
Items and amount adjusted by foreign accounting rules
By foreign accounting
-481,971.51 589,416.25 83,629,196.31 84,111,167.82
rules
3. Reasons for the differences of accounting data under accounting rules in and out of China
No differences.
III. Items and amounts of extraordinary profit (gains)/loss
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
200.00 -
write-off that accrued for impairment of assets)
Other non-operating income and expenditure except for the
74,746.35 -
aforementioned items
Total 74,946.35 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as
recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on
Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss,
explain reasons
□ Applicable √ Not applicable
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section IV. Report of the Board of Directors
I. Introduction
During the report period, affected by the sustaining downturn of the global economy and the domestic
macro-control, the number of domestic and overseas tourists drops sharply, and the tourist market declines. In
addition, the top-grade, mid-grade, and low-grade hotels in Hainan increase quickly in the recent years, the
Company bears great pressures. Confronting with the unfavorable situations of weak economy and fierce market
competition, the Company insists on implementing the business objectives established at the beginning of the year,
takes the markets as the guidance, takes cost decreasing and benefit increasing as the principal line, and takes the
corporate profitability as the core, actively expands the marketing channels, adjusts the management concept,
adopts effective management countermeasures, and improves the response capacity to the market risks, the
Company maintains a stable business development momentum.
II. Main business analysis
Introduction
In the reporting period, the Company took tourism services industry as the major business, mainly engaged in the
accommodation and catering. The Company’s main business income was 14,778,800 Yuan, reduced by 5,646,800
Yuan compared to the same period of last year with 27.64% down; operating costs were 5,100 Yuan, reduced by
3,017,000 Yuan compared to the same period of last year with 99.83% decreased; selling expenses were 5,866,300
Yuan, reduced by 2,579,300 Yuan compared to the same period of last year with 30.54% decreased; administrative
fee was 8,568,600 Yuan, increased by 1,536,800 Yuan compared to the same period of last year with an increase
of 21.85%; financial expenses were 68,100 Yuan, reduced by 89,200 Yuan compared to the same period of last
year with 56.71% decreased; operating profit was -556,900 Yuan, decreased by 1,185,800 Yuan compared to the
same period of last year with an decrease of 188.55%; net amount of non-operating revenue and expenditure was
74,900 Yuan, decreased by 83,200 Yuan compared to the same period of last year with an decrease of 52.62%; net
profit was -482,000 Yuan, decreased by 1,071,400 Yuan compared to the same period of last year with 181.77 %
down.
Y-o-y changes of main financial data
In RMB
Y-o-y
Current Same period
increase/decrea Reasons for changes
period of last year
se (%)
Operation revenue 14,778,787.50 20,425,639.30 -27.65% Due to food and beverage outsourcing
Operation cost 5,091.20 3,022,082.13 -99.83% Due to food and beverage outsourcing
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Sales expenses 5,866,274.92 8,445,611.25 -30.54% Due to food and beverage outsourcing
The enterrainment expenses, promotion charge and
Administrative expenses 8,568,614.42 7,031,751.32 21.86% salary increased and the sharing for above the quota of
hotel accrued
The revenue declined, and settlment handling charge
Financial cost 68,112.72 157,341.12 -56.71%
expenses declined
Income tax expense 196,472.08 -100% Due to deficit
Net cash flow arising from Food and beverage outsourcing, the expenses from cost
2,947,494.11 -284,159.33 1,137.26%
operation activities of good purchased decreased
Net cash flow arising from
-573,234.00 -9,542,747.90 -93.99% The investment decreased
investment activities
Together affected by the y-o-y growth of net cash
Net increase of cash and cash flow arising from operation activities and the y-o-y
2,374,260.11 -9,826,907.23 124.16%
equivalent decrase of net cash flow arising from investment
activites
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period
The future development and planning extended to reporting period that published in disclosure documents as
prospectus, private placing memorandum and recapitalize statement
□ Applicable √ Not applicable
No future development and planning extended to reporting period that published in disclosure documents as
prospectus, private placing memorandum and recapitalize statement
Review on the previous business plan and its progress during reporting period
During the report period, under the leadership of the board of directors, the Company conforms to the national
regulation situation, actively responds to the complex and changeable market circumstances, persists in taking the
market demands as the guidance and the economic benefit as the core, positively adjusts the operating strategy,
not only consolidates the regular customers and stabilizes the existing markets, but also strengthens the
development efforts for new markets, the Company effectively overcomes the downturn in the tourism market, the
labor cost increase and other unfavorable factors, and basically completes the business objectives established at
the beginning of the year.
III. Constitution of main business
In RMB
Increase or Increase or Increase or
Operating Gross profit ratio
Operating cost decrease of decrease of decrease of gross
revenue (%)
operating revenue operating cost profit ratio over
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
over same period over same period same period of
of last year (%) of last year (%) last year (%)
According to industries
Tourism &
14,778,787.50 5,091.20 99.96% -27.64% -99.83% 14.76%
catering
According to products
Guest room 14,778,787.50 5,091.20 99.96% -27.64% -99.83% 14.76%
According to region
Hainan 14,778,787.50 5,091.20 99.96% -27.64% -99.83% 14.76%
IV. Core competitive-ness analysis
In the reporting period, the Company’s core competitive-ness had no major changes, and more details can be seen
in Annual Report 2012
V. Investment analysis
1. Equity investment outside
(1) Investment outside
Investment outside
Investment in the same period of last year
Investment in the reporting period (RMB) Changes (%)
(RMB)
0.00 9,000,000.00 -100%
Invested company
Proportion of equity in invested company
Name Main business
for listed company (%)
(2) Holding the equity of financial enterprise
In the reporting period, the Company didn’t hold the equity of financial enterprise.
(3) Securities investment
In the reporting period, the Company had no securities investment.
2. Trust financing, derivative investment and entrusted loans
In the reporting period, the Company had no trust financing, derivative investment or entrusted loans.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
3. Application of raised proceeds
In the reporting period, the Company had no raised proceeds or application of raised proceeds before the reporting
period continued to the reporting period.
4. Main subsidiaries and joint-stock companies analysis
End as the reporting period, the Company had no subsidiaries or joint-stock companies.
5. Major project invested by non-raised funds
In the reporting period, the Company had no major project invested by non-raised funds or before the reporting
period major project invested by non-raised funds continued to the reporting period.
VI. Prediction of business performance from January – September 2013
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation on reason
□ Applicable √ Not applicable
VII. Explanation from the Board and Supervisory Committee for “Qualified Opinion” from
the CPA of this year’s
The semi-annual financial report was unaudited.
VIII. Explanation from the Board for “Qualified Opinion” of last year’s
The “Audit Report for year of 2012” under the name of the Company was issued by BDO Shu Lun Pan Certified
Public Accountants LLP
IX. Implementation of profit distribution in reporting period
Implementation or adjustment of profit distribution plan in reporting period, cash dividend plan and shares
converted from capital reserve in particular
□Applicable √Not applicable
The Company has no profit distribution and shares converted from capital reserve either, which was deliberated
and approved in annual shareholders’ general meeting of 2012.
X. Profit distribution and plan of Capitalizing of Common Reserves in the Period
Number of Bonus Shares Per 10 Common Shares
0
(Share)
Number of Dividends (Taxes included) Per 10 0.00
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Common Shares (RMB)
Number of Shares Converted By Capital Reserve
0
Per 10 Common Shares (Share)
Equity base for distribution plan (Share) 0
Total cash bonus (Tax included) (RMB) 0.00
Distributive profit (RMB) -334,613,653.70
Explanation on profit distribution and plan of capitalizing of common reserves
In reporting period, retained profit of the Company still negative, therefore, no profit distribution and capitalizing of common
reserves in the Period implemented
XI. In the report period, reception of research, communication and interview
Time Place Way Type Reception Contents discussed and material provided
Telephone
Company Individu Investor in Jiling Whether can special treatment, no material
2013-1-8 communicat
headquarters al (Surname Li) provided
ion
Telephone Individu Investor in
Company
2013-1-17 communicat al Guangdong When special treatment, no material provided
headquarters
ion (Surname Wu)
Telephone Individu Investor in
Company Whether accord with conditions of special
2013-2-6 communicat al Haerbin(Surname
headquarters treatment, no material provided
ion Zhang)
Telephone Individu Investor in
Company Program of special treatment, no material
2013-2-15 communicat al Henan(Surname
headquarters provided
ion Guo)
Telephone Individu
Company Investor in Jiangsu Announcement date of Annual Report 2012 of the
2013-3-6 communicat al
headquarters (Surname Guo) Company, no material provided
ion
Telephone Individu Investor in
Company Operation situation of the Company in 2012, no
2013-3-15 communicat al Hunan(Surname
headquarters material provided
ion Li)
Telephone Individu Investor in
Company Repay of advance money for another for capital
2013-4-8 communicat al Beijiang(Surname
headquarters restructuring
ion Wang)
Telephone Individu Investor in
Company Operation situation of the Company hotels, no
2013-4-25 communicat al Shanghai(Surname
headquarters material provided
ion Lu)
Company Telephone Individu Investor in Progress of special treatment of the Company, no
2013-5-12
headquarters communicat al Shenzhen(Surname material provided
13
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
ion Yan)
Telephone Individu Investor in
Company Change of the shareholder’s name, no material
2013-5-24 communicat al Nanning(Surname
headquarters provided
ion Zhou)
Telephone Individu Investor in
Company How restricted shares circulation, no material
2013-6-5 communicat al Guilin(Surname
headquarters provided
ion Chen)
Telephone Individu Investor in
Company Development of the Company, no material
2013-6-27 communicat al Haikou(Surname
headquarters provided
ion Fu)
14
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section V. Important Events
I. Corporate governance
During the report period, the Company strictly follows the requirements of “Corporation Law”, "Securities Law",
"Listing Rules of Shenzhen Stock Exchange Stock ", and other relevant laws and regulations, establishes and
improves the corporate governance system, improves the corporate governance structure, and promotes the
company’s standard operation, there is no difference between the actual state of corporate governance and the
requirements of relevant provisions of China Securities Regulatory Commission.
During the report period, the stockholders' meeting, the board meeting, and the supervisors meeting of the
Company respectively exercise the decision-making power, enforcement power, and right of supervision, which
define the power and responsibilities, restrain mutually, and operate normatively and effectively. These three
meetings’ convening, proposal, consideration, and decision-making procedures meet the requirements of relevant
provisions, which provide strong supports for the scientific decision-making of the Company’s great operations.
The directors of the Company strictly follow the requirements of “listing rules”, perform its duties honestly,
diligently and independently, devote to the interests of the Company and the shareholders, and protect the
legitimate rights and interests of the minority shareholders; the supervisors independently and effectively
supervise and inspect the directors, senior executives and financial situation of the Company.
The Company will continue to improve the corporate governance, seriously fulfill the obligation of information
disclosure, strengthen the management to information disclosure, maintain the principle of fairness about the
information disclosure, strengthen the investor relations management, and protect the legitimate rights and
interests of all investors.
II. Significant lawsuits and arbitrations of the Company
□Applicable √Not applicable
The Company has no significant lawsuits and arbitrations in reporting period
III. Question from media
□ Applicable √ Not applicable
No universal questioned by media in reporting period
IV. Bankruptcy reorganization
In reporting period, the Company has no bankruptcy reorganization occurred.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
V. Transaction in assets
1. Acquisition of assets
In reporting period, the Company has no acquisition of assets.
2. Assets sold
In reporting period, the Company has no assets sold.
3. Enterprise mergers
In reporting period, the Company has no enterprise mergers.
VI. Implementation and its influence of equity incentive plan
End of the reporting period, the Company has no implementation of any equity incentive.
VII. Insignificant related transactions
1. Related transaction with daily operation concerned
Available
Pricing Amount of Proportion to Settlement Inde
Type of Content Price of market Discl
Related principles related amount of method of x of
Related related of related related
relation of related transaction transaction or prices of osure
party transacti transactio transacti related discl
ship transactio (10 thousand the same type similar date
on n on
n Yuan) (%) transaction osure
transactions
First Same as the
Accomm
majorit transaction
Luoniushan Consum odations Market Market
y 19.64 1.32% with - - -
Co., Ltd. ption and price price
shareho non-related
catering
lder party
Total -- -- 19.64 -- -- -- -- --
Details of returned large sales N/A
Predict on total amount of daily related
trade on the way in this period according
to classification, as well as actual N/A
implementation in reporting period (if
applicable)
Reason of the greater difference between
trade price and market reference price (if N/A
applicable)
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
2. Related transactions by assets acquisition and sold
In the reporting period, the Company had no related transactions by assets acquisition or sold.
3. Main related transactions of mutual investment outside
In the reporting period, the Company had no main related transactions of mutual investment outside.
4. Contact of related credit and debt
Whether exist non-operating contact of related credit and debt or not
√Yes □No
Amount of
Balance of Balance at
Whether exist the period
period-beg period-en
Type of credit Resulted non-operational occurrence
Related party Related relationship in (in 10 d (in 10
and debt reason capital (in 10
thousand thousand
occupying thousand
Yuan) Yuan)
Yuan)
Debt payable to Current
Luoniushan Co., Ltd First majority shareholder Yes 80 0 80
related party account
Influence on operation result and financial statue of
No influence
the Company from related credit and debts
5. Other insignificant related transactions
Nil
VIII. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
Explanation on entrust
Nil
Gains/losses to the Company from projects that reached over 10% in total profit of the Company in reporting
period
□ Applicable √ Not applicable
(2) Contract
Explanation on contract
Nil
Gains/losses to the Company from projects that reached over 10% in total profit of the Company in reporting
period
17
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
□ Applicable √ Not applicable
(3) Leasing
Explanation on leasing
Nil
Gains/losses to the Company from projects that reached over 10% in total profit of the Company in reporting
period
□ Applicable √ Not applicable
2. Guarantee
In the reporting period, the Company had no situation of guarantee.
3. Other material contracts
Nil
4. Other significant transactions
Nil
IX. Commitments made by the Company or shareholders holding above 5% shares of the Company in
reporting period or occurred in the previous period but continued to reporting period
Commitme Commitm
Commitments Accepter Contents Implementation
nt time ent period
Sharehold Implementing. But no
Seeking restructuring side In an
Commitments for ers with 2008-06-2 appropriate
for assets reorganization in appropriat
Share Merger Reform over 5% 0 restructuring side has
an appropriate time. e time
share held been found so far.
Commitments in report of acquisition or
equity change
Commitments in assets reorganization
Commitments make in Initial public offering or
re-financing
Other commitments for minority shareholders
Implemented commitments on time No
Detail reasons for un-complement and further
N/A
plan (if applicable)
XI. Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□ Yes √ No
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
XI. Penalty and rectification
□Applicable √ Not applicable
XII. Explanation on other significant events
Nil.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in shares
Before change Increase/decrease in this time (+ , - ) After change
Capitalizatio
Ratio Bonus
Amount New issue n of public Other Subtotal Amount Ratio (%)
(%) share
reserve
I. Restricted shares 17,176,000 4.72% 17,176,000 4.72%
1. State-owned shares
5,922,000 1.63% -1,321,800 -1,321,800 4,600,200 1.26%
2. State-owned corporate shares
11,254,000 3.09% 1,321,800 1,321,800 12,575,800 3.46%
3. Other domestic shares
Including: Domestic legal person
11,122,000 3.05% 1,321,800 1,321,800 12,443,800 3.42%
shares
Domestic natural person shares 132,000 0.04% 132,000 0.04%
II. Unrestricted shares 346,924,000 95.28% 346,924,000 95.28%
258,924,000 71.11% 258,924,000 71.11%
1. RMB common shares
2.Domestically listed foreign
88,000,000 24.17% 88,000,000 24.17%
shares
III. Total shares 364,100,000 100% 364,100,000 100%
Reasons for share changed
√Applicable □Not applicable
In the process of subsequent work of share-trading reform of the Company, according to relevant regulations the
release procedures were in process and part of the shareholders handling the payment of account paid in advance.
Thus, the share structure changes in the report period but retained the same in total share capital.
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changed
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to
common shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security
20
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
regulators
□ Applicable √ Not applicable
Explanation on changes in aspect of total shares, shareholders structures as well as structure of assets and liability
of the Company
□ Applicable √ Not applicable
II. Number of shares and shares held
In Share
Total shareholders at period-end 28,362
Shareholders with over 5% shares held
Amount Number of share
Proporti Number of Amount of
Changes in of pledged/frozen
on of shares held unrestricte
Shareholders Nature of shareholder reporting restricted State
shares at d shares
period shares of Amount
held (%) period-end held
held share
Domestic
Pledg
Luoniushan Co., Ltd. non-state-owned legal 16.81% 61,190,270 0 0 61,190,270 60,000,000
ed
person
Domestic nature Pledg
Pan Guoping 8.73% 31,780,683 19,580,731 0 31,780,683 7,535,217
person ed
China Everbright Securities (HK) Overseas
3.78% 13,762,522 13,762,522 0 13,762,522
Limited legal person
Domestic
Yangpu Tongrong Investment
non-state-owned legal 3.74% 13,602,682 961,850 4,420,800 9,181,882
Management Consultation Co., Ltd.
person
Domestic
Shanghai Zhongqing Hotel Pledg
non-state-owned legal 2.95% 10,724,016 10,724,016 0 10,724,016 10,400,116
Management Co., Ltd. ed
person
Domestic
Sanya Yongli Investment Co., ltd. non-state-owned legal 1.9% 6,930,000 0 0 6,930,000
person
Domestic
Construction Investment CITIC
non-state-owned legal 1.27% 4,620,000 0 0 4,620,000
Assets Management Co., Ltd.
person
Domestic nature
Cao Huili 1.2% 4,370,439 226,500 0 4,370,439
person
Overseas
CITRINE CAPITAL LIMITED 0.9% 3,265,200 0 0 3,265,200
legal person
Sanya Zhongxing Development Domestic
0.7% 2,541,000 1,089,000 2,541,000 0
Co., Ltd. non-state-owned legal
21
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
person
Strategy investors or general corporate becomes top 10
N/A
shareholders due to rights issued (if applicable)(Note 3)
The Company is unknown whether there exists associated relationship or
Explanation on associated relationship among the aforesaid belongs to the consistent actor regulated by the Management Measure of
shareholders Information Disclosure on Change of Shareholding for Listed Company
among the other shareholders.
Particular about top ten shareholders with un-restrict shares held
Amount of unrestricted shares Type of shares
Shareholders
held at period-end Type Amount
Luoniushan Co., Ltd. 61,190,270 RMB common share 61,190,270
Domestically listed foreign
31,780,683 24,876,266
Pan Guoping share
RMB common share 6,904,417
Domestically listed foreign
Luoniushan Co., Ltd. 13,762,522 13,762,522
share
Shanghai Zhongqing Hotel Management
10,724,016 RMB common share 10,724,016
Co., Ltd.
Yangpu Tongrong Investment
9,181,882 RMB common share 9,181,882
Management Consultation Co., Ltd.
Sanya Yongli Investment Co., ltd. 6,930,000 RMB common share 6,930,000
Construction Investment CITIC Assets
4,620,000 RMB common share 4,620,000
Management Co., Ltd.
Cao Huili 4,370,439 RMB common share 4,370,439
Domestically listed foreign
CITRINE CAPITAL LIMITED 3,265,200 3,265,200
share
Sanya Rural Credit Cooperative 2,310,000 RMB common share 2,310,000
Expiation on associated relationship or
consistent actors within the top 10 The Company is unknown whether there exists associated relationship or belongs to the
un-restrict shareholders and between top consistent actor regulated by the Management Measure of Information Disclosure on Change
10 un-restrict shareholders and top 10 of Shareholding for Listed Company among the other shareholders.
shareholders
Explanation on shareholders involving
Among the top ten shareholders, there is no shareholder involving margin business.
margin business (if applicable)(note 4)
Note: On 11 July 2013, largest sharehodler of the Company changed the name to “Luoniushan Co., Ltd.” from
former “Haikou Agriculture & Industry & Trade (LUONIUSHAN) Co., Ltd.”.
Whether has a buy-back agreement dealing in reporting period
√Yes □No
22
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
In the reporting period, agreed to repurchase among top 10 shareholders are as:
On 29 January 2013, shareholder of the Company Pan Guoping dealing the security with Everbrigh Securities Co.,
Ltd. with type of agreed to repurchase, 3,500,000 shares of Dadonghai –A are involved, a 0.96 percent in total
share capital of the Company. And Pan Guoping purchased the abovementioned shares on 24 April 2013. As of the
reporting period, 6,904,417 shares of Dadonghai-A were held by Pan Guoping, a 1.896 percent in total share
capital of the Company, and 24,876,266 shares of Dadonghai-B, a 6.832 percent of the total shares of the
Company.
III. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period
□ Applicable √ Not applicable
23
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section VII. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior executives have no changes in reporting period, found more
details in Annual Report 2012.
II. Resignation and dismissal of directors, supervisors and senior executives
In the reporting period, the Company had no resignation or dismissal of directors, supervisors and senior
executives occurred.
24
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section VIII. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
Units in Notes of Financial Statements is RMB
1. Balance sheet
Prepared by: Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 17,568,928.80 15,194,668.69
Settlement funds
Lending funds
Tradable financial assets
Notes receivable
Accounts receivable 3,171,262.36 2,523,510.68
Prepayments 163,547.45 86,579.35
Premium receivable
Reinsurance accounts
receivable
Reinsurance contract reserve
receivable
Interest receivable
Dividend receivable
Other account receivable 3,697,835.25 2,221,769.24
Buying back the sale of
financial assets
Inventory 304,080.83 291,524.72
25
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Non-current assets due
within one year
Other current assets
Total current assets 24,905,654.69 20,318,052.68
Non-current assets:
Issuance of loans and
advances
Financial assets available for
Sale
Held-to-maturity investment
Long-term receivables
Long term equity investment
Investment real estate
Fixed asset 63,552,150.92 65,533,275.02
Project in progress
Project materials
Liquidation of fixed asset
Productive biological asset
Oil and gas asset
Intangible asset 28,523,208.42 28,957,572.00
Development expenditure
Goodwill
Long-term deferred
779,810.81 977,074.85
expenditure
Deferred income tax asset
Other non-current asset
Total non-current asset 92,855,170.15 95,467,921.87
Total Assets 117,760,824.84 115,785,974.55
Current Liabilities:
Short-term borrowing
Borrowing from the central
bank
Deposits and interbank deposit
Borrowed capital
Transaction financial
liabilities
26
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Notes payable
Accounts payable 2,149,146.05 1,981,833.63
Account received in advance 1,403,553.93 2,031,429.61
Financial assets sold for
repurchase
Fees and commissions
payable
Salary payable 5,567,456.00 3,638,558.05
Taxes payable -1,253,416.80 -1,131,657.47
Interest payable
Dividend payable
Other payables 26,264,889.35 25,154,642.91
Reinsurance payables
Reserves for insurance
contracts
Agency securities trading
Agency securities
underwriting
Non-current liabilities due
within one year
Other current liabilities
Total current liabilities 34,131,628.53 31,674,806.73
Non-current liabilities
Long-term loans
Bonds payable
Long-term payables
Special payables
Accrued liabilities
Deferred income tax liability
Other non-current liability
Total non-current liability
Total liability 34,131,628.53 31,674,806.73
Owners’ equity (or Shareholder’s
equity):
Paid-in capital(share capital) 364,100,000.00 364,100,000.00
Capital surplus 54,142,850.01 54,142,850.01
27
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Less: treasury stock
Special reserve
Surplus reserve
Reserve for general risks
Retained profit -334,613,653.70 -334,131,682.19
Converted difference in
foreign currency Statements
Total owner’s equity attributable
83,629,196.31 84,111,167.82
to parent company
Interest of minority
shareholders
Total owners’ equity (or
83,629,196.31 84,111,167.82
shareholders equity)
Total liabilities and owners’ equity
117,760,824.84 115,785,974.55
(or shareholders equity)
Legal Representative: Li Yuanbin Person in Charge of Accounting: Chen Liurong
Person in Charge of Accounting Department: Li Zhi
2. Income Statements
Prepared by: Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
In RMB
Item Current Amount Amount of the Previous Period
I. Total operation revenue 14,778,787.50 20,425,639.30
Including: Operating revenue 14,778,787.50 20,425,639.30
Interest income
Earned premium
Fee and commission income
II Total Operating cost 15,335,705.36 19,800,621.64
Including: Operating costs 5,091.20 3,022,082.13
Interest costs
Fee and commission costs
Cash surrender
Net compensation expenses
28
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Net extraction reserves for insurance
contracts
Policy dividend payout
Reinsurance expense
Business tax and surcharge 827,612.10 1,143,835.82
Sales expenses 5,866,274.92 8,445,611.25
Administrative expenses 8,568,614.42 7,031,751.32
Financial expenses 68,112.72 157,341.12
Asset impairment losses
Add: gains from changes of fair value
(Loss is listed with “-”)
Investment gain (Loss is listed with
3,932.08
“-”)
Including: Investment gains on
affiliated Company and joint venture
Exchange gains (Loss is listed with
“-”)
III. Operating profits (Loss is listed with “-”) -556,917.86 628,949.74
Add: Non-operating income 76,146.35 158,112.05
Less: Non-operating expenditure 1,200.00 1,173.46
Including: Disposal loss on non-current
200.00
liability
IV Total profits (Total loss is listed with “-”) -481,971.51 785,888.33
Less: Income tax expenses 196,472.08
V. Net profit (Net loss is listed with “-”) -481,971.51 589,416.25
Including: Net profit generated by combined
party before merged
Net profit attribute to owners of parent
-481,971.51 589,416.25
company
Minority interest
VI. Earnings per share(EPS) -- --
(i) Basic Earnings per share(EPS) -0.0013 0.0016
(ii) Diluted Earnings per share(EPS) -0.0013 0.0016
VII. Other consolidated income
VIII. Total consolidated income -481,971.51 589,416.25
Total consolidated income attributable to -481,971.51 589,416.25
29
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
owners of parent company
Total consolidated income attributable to
minority shareholders
Legal Representative: Li Yuanbin Person in Charge of Accounting: Chen Liurong
Person in Charge of Accounting Department: Li Zhi
3. Cash Flow Statement
Prepared by: Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
In RMB
Amount of the Previous
Items Current Amount
Period
I. Cash flows arising from operating activities:
Cash received from selling commodities and
13,820,522.00 18,598,896.91
providing labor services
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
Net increase of capital borrowed from other financial
institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Net increase of insured savings and investment
Net increase of disposal of transaction financial asset
Cash received from interest, commission charge and
commission
Net increase of capital borrowed
Net increase of returned business capital
Write-back of tax received
Other cash received concerning operating activities 2,401,962.57 408,740.79
Subtotal of cash inflow arising from operating activities 16,222,484.57 19,007,637.70
Cash paid for purchasing commodities and receiving
3,921,328.49 8,041,224.53
labor service
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract
30
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
compensation
Cash paid for interest, commission charge and
commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 5,028,559.08 5,830,106.47
Taxes paid 1,610,258.17 2,303,874.32
Other cash paid concerning operating activities 2,714,844.72 3,116,591.71
Subtotal of cash outflow arising from operating activities 13,274,990.46 19,291,797.03
Net cash flows arising from operating activities 2,947,494.11 -284,159.33
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income
Net cash received from disposal of fixed, intangible
200.00 3,920.00
and other long-term assets
Net cash received from disposal of subsidiaries and
other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 200.00 3,920.00
Cash paid for purchasing fixed, intangible and other
573,434.00 546,667.90
long-term assets
Cash paid for investment 9,000,000.00
Net increase of mortgaged loans
Net cash paid for obtaining subsidiaries and other
units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 573,434.00 9,546,667.90
Net cash flows arising from investing activities -573,234.00 -9,542,747.90
III. Cash flows arising from financing activities
Cash received from absorbing investment
Including: Cash received from absorbing minority
shareholders’ investment by subsidiaries
Cash received from loans
Cash received from issuing bonds
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities
31
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Cash paid for settling debts
Cash paid for dividend and profit distributing or
interest paying
Including: Dividend and profit of minority
shareholder paid by subsidiaries
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities
Net cash flows arising from financing activities
IV. Influence on cash and cash equivalents due to
fluctuation in exchange rate
V. Net increase of cash and cash equivalents 2,374,260.11 -9,826,907.23
Add: Balance of cash and cash equivalents at the
15,194,668.69 12,374,582.48
period -begin
VI. Balance of cash and cash equivalents at the period -end 17,568,928.80 2,547,675.25
Legal Representative: Li Yuanbin Person in Charge of Accounting: Chen Liurong
Person in Charge of Accounting Department: Li Zhi
4. Statement on Changes of Owners' Equity
Prepared by: Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Current Amount
In RMB
Current Amount
Owners' equity attributable to the parent company Interest
of
Item Less: Speci Surpl Reserv
Paid-in Ot minorit Total owners’
Capital treasu al us e for
capital(share Retained profit he y equity
surplus ry reser reser general
capital) r shareh
stock ve ve risks
olders
I. Balance at the end of last year 364,100,000.00 54,142,850.01 -334,131,682.19 84,111,167.82
Add: Changes of accounting
policy
Error correction of previous
period
Others
II. Balance at the beginning of 364,100,000.00 54,142,850.01 -334,131,682.19 84,111,167.82
32
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
this year
III. Increase/ Decrease in this
-481,971.51 -481,971.51
year (Decrease is listed with'"-")
(i) Net profit -481,971.51 -481,971.51
(ii) Other consolidated income
Subtotal of (i)and (ii) -481,971.51 -481,971.51
(III) Owners' devoted and
decreased capital
1. Owners' devoted capital
2. Amount calculated into owners'
equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) Carrying forward internal
owners' equity
1. Capital reserves conversed to
capital (share capital)
2. Surplus reserves conversed to
capital (share capital)
3. Remedying loss with surplus
reserve
4. Others
(VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the
364,100,000.00 54,142,850.01 -334,613,653.70 83,629,196.31
report period
Amount in last year
In RMB
Amount in last year
Items
33
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Owners’ equity attributable to the parent company Interest
O of
Speci Surpl Reserv
Paid-in Less: t minorit Total owners’
Capital al us e for
capital(share treasur Retained profit h y equity
surplus reser reser general
capital) y stock e shareho
ve ve risks
r lders
I. Balance at the end of last year 364,100,000.00 54,142,850.01 -336,257,724.19 81,985,125.82
Add: retroactive adjustment
arising from enterprise
consolidation under the same
control
Add: Changes of accounting
policy
Error correction of
previous period
Other
II. Balance at the beginning of
364,100,000.00 54,142,850.01 -336,257,724.19 81,985,125.82
this year
III. Increase/ Decrease in this
2,126,042.00 2,126,042.00
year (Decrease is listed with’”-”)
(i) Net profit 2,126,042.00 2,126,042.00
(II) Other consolidated income
Subtotal of (i)and (ii) 2,126,042.00 2,126,042.00
(III) Owners’ devoted and
decreased capital
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) Carrying forward internal
owners’ equity
34
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
1. Capital reserves conversed to
capital (share capital)
2. Surplus reserves conversed to
capital (share capital)
3. Remedying loss with surplus
reserve
4. Others
( VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the
364,100,000.00 54,142,850.01 -334,131,682.19 84,111,167.82
report period
Legal Representative: Li Yuanbin Person in Charge of Accounting: Chen Liurong
Person in Charge of Accounting Department: Li Zhi
III. Company profile
Hainan Dadonghai Tourism Center (Holdings) Co., Ltd. (hereinafter referred to as “Company” or “the Company”),
was founded as a standardized LLC on April 26, 1993, reorganized and incorporated on the basis of the former
Hainan Sanya Dadonghai Tourism Center Development Ltd and approved by the Hainan Provincial Stock System
Experimentation Leading Team Office with a document of Qiong Gu Ban Zi [1993] No. 11. On May 6, 1996, the
Company underwent a restructuring and a corresponding division under the approval of the Hainan Provincial
Securities Administration Office with a document of Qiong Zheng Ban [1996] No. 58. On October 8, 1996 and
January 28, 1997, the Company, with duly approval, went public by issuing 80 million shares of B stock and 14
million shares of A stock respectively on Shenzhen Security Exchange. On June 20, 2007, the Company
experienced a reform of non-tradable shares, through which non-tradable share holders of the Company got
circulating right of their shares by paying shares to tradable share holders, and tradable share holders got paid
three shares for every ten of their shares. After the above consideration of stock ration were implemented, the
Company maintained an unchanged total shares with a corresponding equity structural change.
As of December 31, 2012, the Company’s total capital stock is 364,100,000 shares, in which the restricted
tradable stock is 17,176,000 shares, accounting for 4.72% of the total, and the unrestricted tradable stock is
346,924,000 shares, accounting for 95.28 % of the total. The Company’s registered capital is RMB 364.1 million.
The legal representative is Li Yuanbin. The registeration number of its Business License for Enterprise Legal
Person (Copy) is 4600001003983. And the legal registerred residence is Dadonghai, Hedong District, Sanya.
35
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
The Company belongs to the industry of tourism and catering services. Its scope of business includes:
accomodation and catering industry (limited to those operated by branches); photography; operation of
ornamental plant bonsai, knitwear and textiles, general merchandise, hardware and electrical equipment, chemical
products (excluding those require specialized licenses), daily necessities, industrial means of production
(excluding those require specialized licenses), metal materials and machinery equipment; commission sale of
plane, bus, train and ship tickets (items in require of administrative permission shall be operated under license).
IV. Principal accounting policies, estimates and errors of previous period
1. Basis of preparation for financial statements
Based on going concern, according to actually occurred transactions and events, the Company prepares its
financial statements in accordance with the Accounting Standards for Business Enterprises – Basic Standards and
38 concrete accounting standards issued on February 15, 2006 by the Finance Ministry, the subsequently issued
Accounting Standards for Business Enterprises – Application Guidelines, and the Accounting Standards for
Business Enterprises – Interpretations and other relevant provisions (collectively known as “Accounting Standards
for Business Enterprises”), as well as the disclosure requirements of Regulation on the Preparation of Information
Disclosure of Companies Issuing Public Shares No.15 - General Requirements for Financial Reports (as revised in
2010) by the China Securities Regulatory Commission.
2. Statement on compliance with Accounting Standards for Business Enterprises
The financial statements prepared by the Company meet the requirements of the Accounting Standards for
Business Enterprises and truly and completely reflect the Company’s financial position, operating results and cash
flows, etc. for the reporting period.
3. Accounting period
The accounting year is from January 1 to December 31 in calendar year.
4. Functional currency
RMB is adopted as the functional currency.
5. Accounting treatment for business combinations under the same control and those not under the same
control
(1)Business combination under the same control
Nil
(2)Business combination not under the same control
Nil
6. Methods for preparation of consolidated financial statements
(1) Methods for preparation of consolidated financial statements
Nil
36
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(2) Accounting treatment method that should be disclosed for the equity of same subsidiary, which sold
after sales or sales after sold in two accounting period in a row
Nil
7. Recognition criteria of cash and cash equivalents
For the purpose of preparing the statement of cash flows, the term “cash” refers to the cash on hand and the
unrestricted deposit. And the term “cash equivalents” refers to short-term (maturing within three months from
acquisition) and highly liquid investments that are readily convertible to known amounts of cash and which are
subject to an insignificant risk of change in value.
8. Foreign business and foreign currency statement translation
(1) Foreign currency transactions
Foreign currency transactions are converted into RMB for recording purpose at the spot exchange rate on the date
when the transaction occurs.
(2) Foreign currency statement translation
Balances of foreign currency monetary items are measured at the spot exchange rate on the balance sheet date.
The exchange difference arising wherefrom shall be included in the current profit and loss, except that those
exchange differences arising from the special borrowings of foreign currency related to the acquired and
constructed assets qualified for capitalization shall be dealt with according to the principle of borrowing cost
capitalization. Foreign currency non-monetary items measured at historical costs shall still be converted at the
spot exchange rates on the date when the transactions occur, and the amount in functional currency shall remain
unchanged. Foreign currency non-monetary items measured at fair value shall be translated at the spot exchange
rates on the date when the fair value is determined. The exchange difference arising wherefrom shall be included
in the current profit and loss or capital reserves.
9. Financial instruments
Financial instruments include financial assets, financial liabilities and equity instruments.
(1) Classification of financial instruments
Financial assets and liabilities are classified into the following categories according to the purpose of acquisition:
financial assets or financial liabilities measured at fair value through current profit and loss, including financial
assets or financial liabilities held for trading (and financial assets or financial liabilities directly designated to be
measured at fair value through current profit and loss), accounts receivable, and other financial liabilities, etc.
(2) Recognition basis and measurement method of financial instruments
(1) Financial assets (financial liabilities) measured at fair value through current profit and loss
Financial assets (financial liabilities) are initially recorded at fair values when acquired (deducting cash dividends
that have been declared but not distributed and bond interests that have matured but not been drawn). Relevant
transaction expenses are included in the current profit and loss.
The interests or cash dividends to be received during the holding period are recognized as investment income.
Change in fair values is included in the current profit and loss at the end of the period.
37
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Difference between the fair value and initial book-entry value is recognized as investment income upon disposal;
meanwhile, adjustment is made to gains or losses from changes in fair values.
(2) Accounts receivable
For creditor’s rights receivable arising from external sales of goods or rendering of service by the Company and
other creditor's rights of other enterprises (excluding liability instruments quoted in an active market) held by the
Company, including accounts receivable, other receivables, notes receivable and prepayments, etc., the initial
recognition amount shall be the contract price or agreement price receivable from purchasing party. Accounts
receivable with financing nature are initially recognized at their present values.
The difference between the amount received and the book value of the accounts receivable is included in the
current profit and loss upon recovery or disposal.
(3) Other financial liabilities
Other financial liabilities are initially recognized at the sum of fair value and transaction expenses and
subsequently measured at amortized costs.
(3) Recognition basis and measurement method of transfer of financial assets
When transfer of financial assets occurs, if nearly all of the risks and rewards of ownership of the financial assets
have been transferred to the transferee, the Company derecognizes the financial assets; if nearly all of the risks
and rewards of ownership of the financial assets are retained, the Company shall not derecognize the financial
assets.
The principle of substance over form is adopted to determine whether the transfer of a financial asset satisfies the
criteria as described above for derecognition of a financial asset. The Company shall classify the transfer of a
financial asset into the entire transfer and the partial transfer of financial asset. If the entire transfer of financial
asset satisfies the criteria for derecognition, the difference between the amounts of the following two items shall
be included in the current profit and loss:
(1) The book value of the transferred financial asset;
(2) The sum of the consideration received from the transfer and the accumulated amount of the changes in fair
value originally and directly included in owners’ equity (the situation where the financial asset transferred is an
available-for-sale financial asset is involved in).
If the partial transfer of financial asset satisfies the criteria for derecognition, the entire book value of the
transferred financial asset shall be split into the derecognized and recognized part according to their respective fair
value and the difference between the amounts of the following two items shall be included in the current profit
and loss:
(1) The book value of derecognized part;
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(2) The sum of the consideration for the derecognized part and the portion of derecognition corresponding to the
accumulated amount of the changes in fair value originally and directly included in owners’ equity (the situation
where the financial asset transferred is an available-for-sale financial asset is involved in).
If the transfer of financial assets does not meet the derecognition criteria, the financial assets shall continue to be
recognized, and the consideration received will be recognized as a financial liability.
(4) Derecognition criteria of financial liabilities
A financial liability shall be totally or partly derecognized if its present obligations are totally or partly dissolved.
Where the Company enters into an agreement with a creditor so as to substitute the existing financial liabilities
with any new financial liability, and the new financial liability is substantially different from the contractual
stipulations regarding the existing financial liability, it shall derecognize the existing financial liability, and shall at
the same time recognize new financial liability.
Where substantial revisions are made to some or all of the contractual stipulations of the existing financial liability,
the Company shall derecognize the existing financial liability totally or partly, and at the same time recognize the
financial liability with revised contractual stipulations as a new financial liability.
Upon total or partial derecognition of financial liabilities, the difference between the book value of the financial
liabilities derecognized and the consideration paid (including non-cash assets surrendered or new financial
liabilities assumed) shall be included in the current profit and loss.
Where the Company redeems part of its financial liabilities, it shall, on the redemption date, allocate the entire
book value of whole financial liabilities according to the comparative fair value of the part that continues to be
recognized and the de-recognized part. The difference between the book value allocated to the derecognized part
and the considerations paid (including non-cash assets surrendered and the new financial liabilities assumed) shall
be included in the current profit and loss.
(5) Method of determining the fair value of financial assets and financial liabilities
For financial assets and financial liabilities measured at fair value by the Company, their fair values are
determined with direct reference to the quoted prices in the active market.
(6) Method of impairment testing and impairment provision for financial asstes (account receivables
excluded)
Nil
10. Standards of recognition and accrual method for bad debt provision of receivables
Nil
(1) Provision for bad debts of accounts receivable those are individually significant:
Assessment basis or standard of amount Top five accounts receivable and other receivables in terms of individual amount at the
individually significant end of the year.
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After separate impairment test, provision for bad debts shall be made at the difference of
present value of estimated future cash flows in short of their book values, and shall be
Accrual method for amount individually
include in current profit and loss. For accounts receivable with no impairment found after
significant and withdrawal bad debt separate tests, they shall be included in corresponding portfolios for provisions for bad
debts. For accounts receivable with confirmed impairment losses after separate tests,
provision single
they shall not be included in portfolios of accounts receivable with similar credit risk
features for impairment tests.
(2) Provision for bad debts of accounts receivable made on the basis of portfolio
Method of making provision for
Portfolio Basis of determining portfolio
bad debts on the basis of portfolio
Aging portfolio Aging analysis method Length of the aging
Proportions of provision for bad debts on the basis of aging analysis in portfolios are as follows
√ Applicable □ Not applicable
Proportion of provision for account
Aging Proportion of provision for other receivables (%)
receivable (%)
1 to 2 years 5% 5%
2 to 3 years 15% 15%
Over 3 years 75% 75%
3 to 4 years 25% 25%
4 to 5 years 50% 50%
Over 5 years 100% 100%
In portfolio, adopting balance percentage method for bad debt provision
□ Applicable √Not applicable
In portfolio, adopting other method for bad debt provision
□ Applicable √Not applicable
(3) Accounts receivable that are individually insignificant but with bad debt provision provided on an
individual basis
For account receivable with an individual balance lower than the top five at the end of the year and
Reason for bad debt
with objective evidence showing it may be impaired, and for uncollectible accounts receivable arising
provision provided on an
from repeal and liquidation of debtor after taking legal clearance procedures, their provision for bad
individual basis
debts shall be provided on an individual basis.
For accounts receivable with objective evidence showing they may be impaired, they shall be
Method of provision for bad separate from relevant portfolios and separately tested for impairment to recognize the impairment
debt losses. Other remarks: provision for impairment of accounts receivable, excluding debts receivable
and other receivables, shall be made at the specific identification method
11. Inventories
(1) Classification of inventories
Inventories are classified into raw materials, stock commodities, low-cost consumables, food materials, fuels,
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
etc.
(2) Measurement method of dispatched inventories
Measurement method: other
Stock commodities are measured at selling price and their purchase and sale price differential are amortized over
every month at the method of comprehensive differential. The purchasing and storage of stock materials are
measured at actual cost, and at the first-in first-out method when fetched for use. Low-cost consumables are
amortized in full when fetched for use.
(3) Determination basis of net realizable values of inventories and provision method of inventory
depreciation reserve
After the comprehensive inventory count at the end of the period, provisions for inventory depreciation
reserve are made or adjusted at the lower of their costs or net realizable values.
In normal operation process, for merchandise inventories for direct sale, including stock commodities and
materials for sale, their net realizable values are determined at the estimated selling prices minus the
estimated selling expenses and relevant taxes and surcharges; for inventories held to execute sales contract or
service contract, their net realizable values are calculated on the basis of contract price. If the quantities of
inventories specified in sales contracts are less than the quantities held by the Company, the net realizable
value of the excess portion of inventories shall be based on general selling prices.
At the end of the period, provisions for inventory depreciation reserve are made on an individual basis. For
inventories with large quantity and low unit price, the provisions for inventory depreciation reserve are made
on a category basis. For inventories related to the product portfolios manufactured and sold in the same area,
and of which the final usage or purpose is identical or similar thereto, and which is difficult to separate from
other items for measurement purposes, the provisions for inventory depreciation reserve shall be made on a
portfolio basis.
If any factor rendering write-downs of the inventories has been eliminated, the amounts written down are
recovered and reversed from the inventory depreciation reserve, which has been provided for. The reversed
amounts are included into the current profit and loss.
(4) Inventory system
Inventory system: Perpetual inventory system
Nil
(5) Amortization method of low-cost consumables and packaging materials
Low-cost consumables
Amortization method: one-off method
Low-cost consumables are amortized at one-off amortization method.
Packaging materials
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Amortization method: one-off method
Packaging materials are amortized at one-off amortization method.
12. Long-term equity investment
(1) Determination of investment cost
(1) Long-term equity investment acquired from business combination
For business combination under common control: if the Company makes payment in cash, transfer non-cash
assets or bear debts and issues equity securities as the consideration for the business combination, the book
value of the owners’ equity of the combinee obtained is recognized as the initial cost of the long-term equity
investment on the combination date. The stock premium in the capital reserve is adjusted according to the
difference between the initial cost of long-term equity investment and the consideration for the combination
paid; if there is no sufficient premium in the capital reserve for write-downs, the retained earnings are
adjusted. Relevant direct costs arising from the business combination, including audit fee, appraisal fee and
legal service fee paid for the business combination, are included in the current profit and loss when incurred.
For business combination not under common control, the Company recognizes the combination cost
determined on the combination date as the initial cost of long-term equity investment. The combination cost
is the fair value of assets paid, liabilities incurred or born and the equity securities issued to obtain the
control of the acquiree. Intermediary costs such as audit fee, legal service fee, appraisal and consultancy fee
paid for the business combination by the acquirer and other relevant administrative expenses are included in
the current profit and loss when incurred; the transaction costs for the acquirer’s issuance of equity securities
or the debt securities as the consideration for the business combination are included in the initially
recognition amounts of the equity or debt securities. For business combination not under common control
through multiple transactions and by stage, the total of the book values of equity investment held by the
acquirer before the combination date and the newly increased investment on the combination date are
recognized as the initial cost of such investment. The Company regards the contingent consideration agreed
in the combination agreement as part of the consideration transferred for the combination, and includes it in
the combination cost at its fair value on the combination date.
(2) Long-term equity investment acquired by other means
For long-term equity investments acquired from making payments in cash, the initial cost is the actually paid
purchase cost. For long-term equity investments acquired from issuance of equity securities, the initial cost is
the fair value of the issued equity securities. For long-term equity investments of investors, the initial cost is
the value stipulated in the investment contract or agreement (deducting the cash dividend or profit that has
been declared but not distributed) unless the value stipulated in the contract or agreement is unfair. If the
exchange of non-monetary assets has commercial substance, and the fair values of assets traded out and
traded in can be measured reliably, the initial cost of long-term equity investment traded in with
non-monetary assets are determined based on the fair values of the assets traded out unless there is any
conclusive evidence that the fair values of the assets traded in are more reliable. If the exchange of
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
non-monetary assets does not meet the above criteria, the book value of the assets traded out and relevant
taxes and surcharges payable are recognized as the initial cost of long-term equity investment traded in. For
long-term equity investment acquired from debt restructuring, the initial cost is determined based on the fair
value.
(2) Subsequent measurement and recognition of profit or loss
(1) Long-term equity investments of the Company in its subsidiaries are accounted for at cost method and
adjusted at equity method when preparing the consolidated financial statements. For long-term equity
investment which has no joint control or significant influence over the investee and no quotation available on
the active market and whose fair value cannot be reliably measured, the cost method is adopted for
accounting. For long-term equity investment which has joint control or significant influence over the
investee, the equity method is adopted for accounting. If the cost of initial investment is in excess of the
proportion of the fair value of the net identifiable assets in the investee when the investment is made, the
difference will not be adjusted to the initial cost of long-term equity investment; if the cost of initial
investment is in short of the proportion of the fair value of the net identifiable assets in the investee when the
investment is made, the difference will be included in the current profit and loss. Treatment for other changes
in owners' equity other than the net profit or loss of the investee: for other changes in owners' equity other
than the net profit or loss of the investee accounted for at equity method, when the shareholding ratio is
unchanged, the Company calculates the proportion it shall enjoy or undertake according to such ratio, adjusts
the book value of long-term equity investment and increases or decreases capital reserves (other capital
reserves) at the same time.
(2) Under the cost method, except for the actual price paid for acquisition of investment or the cash dividends
or profits contained in the consideration which have been declared but not yet distributed, the Company
recognizes the proportion it shall enjoy in the cash dividends or profits declared by the investee as its
investment income. Under the equity method, based on the net book profit of investee, the Company shall
consider: when the accounting policy and period adopted by the investee and the Company are not the same,
the financial statements of the investee shall be adjusted in accordance with the accounting policy and period
of the Company; the influence of the depreciation amount, amortization amount and relevant asset
impairment provision accrued based on the fair value of fixed assets and intangible assets of the investee on
acquisition of investment on the net profit of the investee; after making proper adjustments, including the
cancellation of unrealized internal transitions between the Company and the associates or joint ventures, the
Company shall recognize its shared or undertaken net profit or loss in the investee. When the Company
confirms that it should share losses of the investee, treatment shall be done in following sequence: firstly, the
book value of the long-term equity investment shall be reduced; secondly, where the book value is
insufficient to cover the share of losses, investment losses are recognized to the extent of book value of
long-term equity (note: mainly limited to those long-term equity with no clear recovery plan and that are not
prepared to be collected in the foreseeable future period) which form net investment in the investee in
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
substance and the book value of long-term equity shall be reduced; finally, after all the above treatments, if
the Company is still responsible for any additional liabilities in accordance with the provisions stipulated in
the investment contracts or agreements, accrued liabilities are recognized and included into current
investment loss according to the obligations estimated to undertake. If the investee achieves profit in
subsequent periods, the treatment is in the reversed sequence described above, i.e. after deduct any
unrecognized investment losses, reduce book value of accrued liabilities recognized, restore book values of
other long-term equity which form net investment in the investee in substance, and of long-term equity
investment, and recognize investment income at the same time. When holding the investment, if the investee
is capable of providing consolidated financial statements, the profit or loss shall be measured based on the
net profit and other changes in equity recorded in the consolidated financial statements.
(3) Determination basis of joint control or significant influence over the investee
Joint control is the contractually agreed sharing of control over an economic activity, and exists only when
the strategic financial and operating decisions relating to the activity require the unanimous consent of the
parties sharing control. Where an investing enterprise and other parties do joint control over an investee, the
investee shall be their joint venture. Significant influence is the power to participate in the financial and
operating policy decisions of the investee but is not control or joint control over those polices. Where an
investing enterprise is able to have significant influences on an investee, the investee shall be its associate.
(4) Testing and provision method of impairment
For long-term equity investment measured at cost, with no quoted price in active market and whose fair
value can be reliably measured, its impairment loss is determined at the difference between its book value
and its present value. For long-term equity investment which is measured at cost and has no quoted price in
the active market, and whose fair value cannot be reliably measured, the difference between its book value
and the present value of the future cash flows discounted at the prevailing market rate of return for a similar
financial asset is recognized as impairment loss. For long-term equity investment measured at cost other than
that mentioned above, if its book value is higher than the net assets it shares in the investee, the Company
shall consider the impairment in value. And the provision for such impairment shall be made at the difference
of the recoverable amount in short of the book value of the long-term equity investment. For other long-term
equity investments, if the measurement result shows that the recoverable amount of the long-term equity
investment is lower than its book value; such difference shall be recognized as impairment loss. Once
recognized, the impairment loss of long-term equity investment shall not be reversed.
13. Investment real estate
Nil
14. Fixed assets
(1) Recognition criteria of fixed assets
Fixed assets refer to the tangible assets held for the purpose of producing commodities, rendering services,
renting or business management with useful lives exceeding one year. Fixed assets will only be recognized
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
when all the following criteria are satisfied: (1) It is probable that the economic benefits relating to the fixed
assets will flow into the Company; and (2) The costs of the fixed assets can be measured reliably.
(2) Recognition criteria and valuation method for fixed assets under financing lease
Nil
(3) Method of provision for impairment of fixed assets
The fixed assets are depreciated at straight-line-method, and the depreciation rates are determined as follows
based on the category, estimated economic useful lives and estimated residual values (5% of original values)
Category Estimated useful life (Year) Estimated residual rate (%) Annual depreciation rate (%)
Buildings and constructions 20—40 5% 4.75%—2.37%
Machinery equipment 8—20 5% 11.87%—4.75%
Electronic equipment 5—16 5% 19%—5.93%
Transportation equipment 7—12 5% 13.57%—7.91%
Other equipment 8 5% 11.87%
Improvement 5 5% 19%
(4) Testing and provision methods of impairment of fixed assets
The Company assesses whether there is any indication that fixed assets may be impaired at the end of each
period.
If there is any indication that fixed assets may be impaired, the Company estimates the recoverable amounts
of the assets. The recoverable amounts of fixed assets are the higher of their fair values less costs to disposal
and the present values of the estimated future cash flows of the assets.
If the recoverable amounts of fixed assets are lower than their book values, the book values of the assets are
written down to their recoverable amounts. The write-downs are recognized as impairment losses and
included to the current profit and loss. Provisions for impairment of the assets are made accordingly.
After impairment losses are recognized, the depreciation charges for the impaired fixed assets are adjusted in
future periods to amortize their revised book values (less their estimated net residual values) over their
remaining useful lives on a systematic basis.
The impairment loss on fixed assets will not be reversed in subsequent accounting period once it is
recognized.
If any indication suggests that a fixed asset may be impaired, the Company estimates the recoverable amount
of the individual asset. If it is difficult to estimate the recoverable amount of the individual asset, the
Company estimates the recoverable amount of the asset group that the individual asset belongs to.
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(5) Other explanation
Nil
15. Construction in progress
(1) Category of construction in progress
Construction in progress is measured on an individual basis.
(2) Criteria and timing for conversion of construction in progress into fixed assets
The initial book values of the fixed assets are stated at total expenditures incurred before construction in
progress reaching the working condition for their intended use. For construction in progress that has reached
working conditions for its intended use but for which the completion of settlement has not been handled, it
shall be transferred into fixed assets at the estimated value according to the project budget, construction price
or actual cost, etc. from the date when it reaches the working conditions for its intended use. And the fixed
assets shall be depreciated in accordance with the Company’s policy on fixed asset depreciation. Adjustment
shall be made to the originally and provisionally estimated value based on the actual cost after the
completion of settlement is handled, but depreciation already provided will not be adjusted.
(3) Testing and provision methods of impairment of construction in progress
The Company assesses whether there is any indication that construction in progress may be impaired at the
end of each period.
If there is any indication that construction in progress may be impaired, the Company estimates its
recoverable amounts. If any indication suggests that one construction in progress may be impaired, the
Company estimates the recoverable amount of the individual construction in progress. If it is difficult to
estimate the recoverable amount of the individual construction in progress, the Company estimates the
recoverable amount of the asset group that the individual construction in progress belongs to.
The recoverable amount of construction in progress is the higher of its fair value less costs to disposal and
the present value of the estimated future cash flows of the construction in progress.
If the recoverable amount of construction in progress is lower than its book values, the book value of the
construction in progress is written down to its recoverable amount. The write-down is recognized as
impairment loss and included in current profit and loss. Provision for impairment of the construction in
progress is made accordingly.
The impairment loss on construction in progress will not be reversed in subsequent accounting period once it
is recognized.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
16. Borrowing costs
(1) Recognition principles of capitalization of borrowing costs
Borrowing costs include the interest of borrowings, the amortization of discount or premium, auxiliary
expenses, exchange differences incurred by foreign currency borrowings, etc.
The borrowing costs incurred to the Company and directly attributable to the acquisition and construction or
production of assets eligible for capitalization should be capitalized and recorded into asset costs; other
borrowing costs should be recognized as costs according to the amount incurred and be included into current
profit and loss.
Assets eligible for capitalization refer to fixed assets, investment property, inventories and other assets which
may reach their intended use or sale status only after long-time acquisition and construction or production
activities.
Borrowing costs may be capitalized only when all the following conditions are met at the same time:
(1) Asset disbursements, which include those incurred by cash payment, the transfer of non-cash assets or
the undertaking of interest-bearing debts for acquiring and constructing or producing assets eligible for
capitalization, have already been incurred;
(2) Borrowing costs have already been incurred;
(3) The acquisition and construction or production activities which are necessary to prepare the assets for
their intended use or sale have already been started.
(2) Capitalization period of borrowing costs
Capitalization period refers to the period from the beginning of capitalization to the cease of capitalization,
excluding the period of capitalization suspension of borrowing costs.
Capitalization of borrowing costs should be ceased when the acquired and constructed or produced assets
eligible for capitalization have reached their intended use or sale condition.
When some projects among the acquired and constructed or produced assets eligible for capitalization are
completed and can be used separately, the capitalization of borrowing costs of such projects should be
ceased.
If all parts of the acquired and constructed or produced assets are completed but the assets cannot be used or
sold externally until overall completion, the capitalization of borrowing costs should be ceased at the time of
overall completion of the said assets.
(3) Period of capitalization suspension
If the acquisition and construction or production activities of assets eligible for capitalization are interrupted
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abnormally and this condition lasts for more than three months, the capitalization of borrowing costs should
be suspended; if the interruption is necessary for the acquisition and construction or production to prepare
the assets for their intended use or sale, the capitalization of borrowing costs should continue. The borrowing
costs incurred during interruption are recognized in the current profit and loss, and the capitalization of
borrowing costs continues after the restart of the acquisition and construction or production activities of the
assets.
(4) Calculation method of capitalization amount of borrowing costs
As for special borrowings borrowed for acquiring and constructing or producing assets eligible for
capitalization, borrowing costs of special borrowing actually incurred in the current period less the interest
income of the loans unused and deposited in bank or return on temporary investment should be recognized as
the capitalization amount of borrowing costs.
As for general borrowings used for acquiring and constructing or producing assets eligible for capitalization,
the interest of general borrowings to be capitalized should be calculated by multiplying the weighted average
of asset disbursements of the part of accumulated asset disbursements exceeding special borrowings at the
end of every month by the capitalization rate of used general borrowings. The capitalization rate is calculated
by weighted average interest rate of general loans.
As for borrowings with discount or premium, the to-be-amortized discount or premium in each accounting
period should be recognized by effective interest rate method, and the interest for each period should be
adjusted.
17. Biological assets
Nil
18. Oil-and-gas assets
Nil
19. Intangible assets
(1) Measurement method of intangible assets
(1) The Company initially measures intangible assets at cost on acquisition;
The cost of an externally acquired intangible asset comprises its purchase price, related taxes and surcharges
and any other directly attributable expenditure of preparing the asset for its intended use. If the deferred
payment of purchase price of intangible assets exceeding normal credit terms is substantially of financial
nature, the cost of intangible assets should be recognized at the present value of the purchase price.
The intangible assets which the debtor uses to pay back the debt in debt restructuring should be recognized at
the fair value of the intangible assets. The difference between the book value of restructured debts and the
fair value of intangible assets used to pay back the debt should be recorded into the current profit and loss;
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On the premise that non-monetary assets trade is of commercial nature and the fair value of the assets traded
in or out can be measured reliably, the intangible assets traded in by the trade of non-monetary assets should
be recognized at the fair value of the assets traded out, unless any unambiguous evidence indicates that the
fair value of the assets traded in is more reliable; as to the non-monetary assets trade not meeting the
aforesaid premise, the book value of the assets traded out and related taxes payable should be recognized as
the cost of the intangible assets traded in, with gains or losses not recognized.
The intangible assets obtained by the absorption and merger of an enterprise under common control are
recognized at the book value of the merged enterprise; the intangible assets obtained by the absorption and
merger of an enterprise not under common control are recognized at the fair value.
Costs of intangible assets developed internally and independently include: the costs of materials and labor
services used to develop the intangible assets, the registration fee, the amortization of other patents and
franchise used in the process of development, the interest of capitalization, and other direct expenses for
preparing the intangible assets for their intended use.
(2) Subsequent measurement
The useful life of intangible asset is analyzed on acquisition.
As for intangible assets with limited useful lives, straight-line amortization method is adopted in the period
when the intangible assets generate economic benefit for enterprise; if the period when the intangible assets
generate economic benefit for enterprise cannot be forecasted, the intangible assets should be deemed as
those with indefinite useful lives and should not be amortized.
(2) Estimation of useful life of intangible assets with limited useful life
The useful lives and amortization method of intangible assets with limited useful lives are reviewed at the end of
each period.
Upon review, the useful lives and amortization method of the intangible assets as at the end of the year are not
different from those estimated before.
Item Estimated useful life (Year ) Basis
Land use right 50 Validity term of land use certificate
(3) Determination basis of intangible assets with indefinite useful lives
As at the balance sheet date, the Company has no intangible assets with indefinite useful lives.
(4) Provision for impairment of intangible assets
If the intangible asset with definite useful life has any obvious impairment sign, impairment test should be
conducted at the end of the period.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
As to the intangible asset with indefinite useful life, impairment test should be conducted at the end of each
period.
Impairment test is conducted for intangible assets to estimate their recoverable amounts. If any indication suggests
that an intangible asset may be impaired, the Company estimates the recoverable amount of such individual asset.
If it is difficult to estimate the recoverable amount of the individual asset, the Company estimates the recoverable
amount of the asset group that the individual asset belongs to.
The recoverable amounts of intangible assets are the higher of their fair values less costs to disposal and the
present values of the estimated future cash flows of the intangible assets.
If the recoverable amounts of intangible assets are lower than their book values, the book values of the assets are
written down to their recoverable amounts. The write-downs are recognized as impairment losses and included in
the current profit and loss. Provisions for impairment of the intangible assets are made accordingly.
After impairment losses are recognized, the depletion or amortization charges for the intangible assets are adjusted
in future periods to depreciate their revised book values (less their estimated net residual values) over their
remaining useful lives on a systematic basis.
The impairment loss on intangible assets will not be reversed in subsequent accounting period once it is
recognized.
(5) Detail criteria on classification of research stage and development stage for internal R&D projects of the
Company
Nil
(6) Calculation of expenditure for internal R&D projects
Nil
20. Long-term deferred expenses
Long-term deferred expenses are various expenses already incurred, which shall be amortized over current and
subsequent periods with the amortization period exceeding one year.
1. Amortization method
Long-term deferred expenses are evenly amortized over the beneficial period.
2. Amortization period
Item Amortization period
Roof waterproofing 3 years
Exterior wall coatings 4 years
Long-term deferred expenses are various expenses already incurred, which shall be amortized over current and
subsequent periods with the amortization period exceeding one year.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
1. Amortization method
Long-term deferred expenses are evenly amortized over the beneficial period.
2. Amortization period
Item Amortization period
Roof waterproofing 3 years
Exterior wall coatings 4 years
21. Assets transfer with buy-back conditions attached
Nil
22. Accrued liabilities
When the Company is involved in proceedings, debt guarantees, onerous contracts and reorganization events,
if such events may require delivery of assets or rendering of services in the future and the amounts of such
events can be reliably measured, accrued liabilities are recognized.
(1) Recognition criteria of accrued liabilities
The Company recognizes the accrued liabilities when obligations related to contingencies satisfy all the
following conditions:
(1) This obligation is a present obligation of the Company;
(2) The performance of such obligation is likely to result in outflow of economic benefits from the
Company; and
(3) The amount of the obligation can be measured reliably.
(2) Measurement method of accrued liabilities
The accrued liabilities of the Company are initially measured as the best estimate of expenses required for
the performance of relevant present obligations.
The Company, when determining the best estimate, has had a comprehensive consideration of risks with
respect to contingencies, uncertainties and the time value of money. If the time value of money is significant,
the best estimate shall be determined after discounting the relevant future outflow of cash.
The best estimate shall be accounted as follows in different circumstance:
If there is continuous range (or interval) for the necessary expenses, and probabilities of occurrence of all the
outcomes within this range are equal, the best estimate shall be determined at the average amount of upper
and lower limits within the range.
If there is no continuous range (or interval) for the necessary expenses, or probabilities of occurrence of all
the outcomes within this range are unequal despite such a range exists, the outcomes within this range are
unequally likely to occur, in case that the contingency involves a single item, the best estimate shall be
51
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
determined at the most likely outcome; if the contingency involves two or more items, the best estimate
should be determined according to all the possible outcomes with their relevant probabilities.
When all or part of the expenses necessary for the settlement of an estimated liability of the Company is
expected to be compensated by a third party, the compensation should be separately recognized as an asset
only when it is virtually certain that the compensation will be received. The amount recognized for the
compensation should not exceed the book value of the estimated liability.
23. Share-based payment and equity instruments
(1) Type of share-based payment
Nil
(2) Recognition method for fair-value of equity instrument
Nil
(3) Basis of best estimation for vesting equity instrument
Nil
(4) Relevant accounting treatment for implementation, amendment and termination of shares payment
plan
Nil
24. Shares of the Company buy-back
Nil
25. Revenue
(1) Detail recognition criteria for sales of goods
Overall recognition and measurement principles of revenue from sales of goods: when the Company has
transferred significant risks and rewards of ownership of the goods to the buyer; the Company retains neither
continuous management rights associated with ownership of the goods sold nor effective control over the goods
sold; the relevant amount of revenue can be measured reliably; it is highly likely that the economic benefits
associated with the transaction will flow into the enterprise; and the relevant amount of cost incurred or to be
incurred can be measured reliably, revenue from sales of goods shall be recognized. After the customer order is
received and the manger of sales department confirms and verifies the terms of payment, the manager places
advanced orders and records them in the Qualia Sales Management System; most customers will pay advance
payment or the sales department provides guarantees; the receptionists, according to the advanced orders of the
sales department, review relevant data recorded in the computer system, and handle check-in formalities after the
customers arrive, collect deposit and record relevant information into the computer system. Each consumption
department, after checking with the receptionists, deals with the consumption sign bills and make pre-settlements
in the reception desk. The evening reviewer of reception desk reviews the consumption bills every night and
makes verifications in the computer system, and prepares daily business report containing each items of income
and detailed report of accounts receivable, and submits the reports to the finance department, which recognizes the
52
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
revenue after examining the daily reports.
(2) Recognition basis of revenue from transferring the use right of assets
The economic benefits related to the transaction may flow into entities and the amount of revenue can be reliably
measured. The amount of revenue from transferring use right of assets is recognized as follows in different
circumstances:
(1) The amount of interest income is determined by the time and effective interest rate for others to use the
monetary funds of the Company.
(2) The amount of revenue from usage is determined according to the charging time and method as agreed in
relevant contract or agreement.
(3) Specific recognition criteria of revenue from rendering of service
When the outcome of a service transaction can be estimated reliably on the balance sheet date, revenue from
rendering of service shall be recognized at the percentage-of-completion method. The percentage of completion of
rendering of service is determined based on the proportion of services that is already rendered in the total amount
of service that is supposed to be rendered.
The total amount of revenue from rendering of service is determined at the contract or agreement price received or
receivable, unless such price received or receivable is unfair. The revenue from rendering of service for the current
period shall be recognized at the total amount of revenue from rendering of service, multiplying the progress of
completion and deducting the revenue from rendering of service accumulated and recognized in the previous
accounting period. Meanwhile, the costs of rendering of service for the current period shall be carried forward at
the total estimated costs of rendering of service, multiplying the progress of completion and deducting the costs of
rendering of service accumulated and recognized in the previous accounting period.
When the outcome of a service transaction cannot be estimated reliably on the balance sheet date, revenue shall be
treated as follows:
(1) If the service costs incurred are expected to be fully compensated, revenues from rendering of service are
recognized at the service costs incurred, and the service costs should be carried forward by the same amount.
(2) If the service costs incurred are not expected to be compensated, revenues from rendering of service are not
recognized and the service costs incurred are included in the current profit and loss.
(4) While income from labor service provided and income of construction contract recognized by
percentage-of-completion method, basis and methods for recognize the completion progress of contract
Nil
26. Government subsidies
(1) Types
Government subsidies are monetary assets and non-monetary assets acquired free of charge by the Company
from the government. Government subsidies are classified into government subsidies related to assets and
government subsidies related to income.
53
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(2) Accounting treatment
Government subsidies related to acquisition and construction of fixed assets, intangible assets and other
long-term assets are recognized as deferred income, and included in non-operating income by stages within
the useful life of the assets acquired and constructed;
If government subsidies related to income are used to compensate the enterprise’s relevant expenses or losses
in future periods, such government subsidies should be recognized as deferred income on acquisition and be
included into the current non-operating income in the period of recognizing relevant expenses; if government
subsidies related to income are used to compensate the enterprise’s relevant expenses or losses incurred, such
government subsidies are directly included into the current non-operating income on acquisition.
27. Deferred income tax assets and deferred income tax liabilities
(1) Basis of recognition of deferred income tax assets
Deductible temporary differences are recognized as deferred income tax assets to the extent that it shall not
exceed future taxable income possibly available to be against the deductible temporary difference.
Deductible temporary differences are recognized as deferred income tax liabilities except in special
circumstances.
(2) Basis of recognition of deferred income tax liability
Special circumstances in which deferred income tax assets or deferred income tax liabilities shall not be
recognized include: the initial recognition of goodwill; other transactions or matters excluding business
combinations, which affect neither accounting profits nor the taxable income (or deductible losses) when
occurred. If the Company has the legal right of netting and intends to settle in net amount or to obtain assets
and discharge liabilities simultaneously, the income tax assets and income tax liabilities of the Company for
the current period shall be presented based on the net amount after offset. When the Company has the legal
rights to balance income tax assets and income tax liabilities in current period with net settlement, and
deferred income tax assets and deferred income tax liabilities are related to the income tax which imposed on
the same taxpaying subject by the same tax collection authority or to different tax paying subjects, but, in
each important future period in connection with the reverse of deferred income tax assets and liabilities, the
involved tax paying subject intends to balance income tax assets and liabilities in current period with net
settlement at the time of obtaining assets and discharging liabilities, deferred income tax assets and deferred
income tax liabilities of the Company shall be presented based on the net amount after offset.
28. Operating lease, financing lease
(1) Accounting of operating lease
Accounting of leased assets:
Lease fees paid by the Company for leased asset shall be amortized at straight-line method over the whole lease
period (including rent-free period) and shall be included in the current expenses. Initial direct costs related to lease
transactions paid by the Company shall be included in the current expenses.
54
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
If the expense related to the lease which shall be paid by the Company is assumed by the lessor of the asset, such
expenses shall be deducted from total lease fees, and residual lease fees shall be amortized over the lease period
and included in the current expenses.
Accounting of leasing assets:
Lease fees received by the Company from leasing assets shall be amortized at straight-line method over the whole
lease period (including rent-free period), and shall be recognized as lease income. Initial direct costs related to
lease transactions paid by the Company shall be included in the current expenses; if the amount is large, it shall be
capitalized, and shall be included in the current income by stages within the whole lease period on same basis for
recognition of lease income.
If the expenses related to the lease which shall be paid by the lessee are borne by the Company, such expenses
shall be deducted from total lease income by the Company, and residual lease fees shall be amortized over the
lease period.
(2) Accounting of financing lease
Nil
(3) Accounting of leaseback
Nil
29. Assets held for sales
(1) Recognition of assets held for sales
Nil
(2) Accounting treatment of assets held for sales
Nil
30. Assets securitization
Nil
31. Hedge accounting
Nil
32. Adjustments for changes in principal accounting policies and estimates
Whether the principal accounting policies and estimates have changed in reporting period or not
□ Yes √ No
No changes in principal accounting policies and estimates in reporting period
(1) Adjustments for changes in accounting policies
Whether have changes in accounting policies or not
□ Yes √ No
There are no changes in principal accounting policies for the Company during the reporting period.
(2) Adjustments for changes in accounting estimates
Whether have changes in accounting estimates or not
55
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
□ Yes √ No
There are no changes in principal accounting estimates for the Company during the reporting period.
33. Correction of accounting errors in previous period
Whether correction of accounting errors in previous period occurred in reporting period or not
□ Yes √ No
No accounting errors of previous period been found in reporting period
(1) Retrospective restatement method
Whether has accounting errors of previous period with retrospective restatement method in reporting period or not
□ Yes √ No
There is no correction of accounting errors in previous period, for which the retrospective restatement method is
adopted, for the Company during the reporting period.
(2) Prospective application method
Whether has accounting errors of previous period with prospective application method in reporting period or not
□ Yes √ No
There is no correction of accounting errors in previous period, for which the prospective application method is
adopted, for the Company during the reporting period.
34. Other principal accounting policies and estimates as well as formulation method of financial statement
Nil
V. Taxation
1. Major tax types and tax rates applicable to the Company
Taxation Basis of tax assessment Tax rate
Value added tax (VAT) Revenue from sale of goods 3%
Business tax Operating income 5%
Urban maintenance and construction tax Turnover tax 7%
Enterprise income tax Income tax payable 25%
Education surcharge Turnover tax 3%
Local education surcharge Turnover tax 2%
Remaining value after deducting 30% of
Property tax the original value of houses (including 1.2%
land price)
Land use tax Land area 12 Yuan/ ㎡
Income tax rates implemented by vary companies and branch plants
Nil
2. Tax preference and approvals
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
3. Other explanation
Nil
VI. Business combination and consolidated financial statements
1. Subsidiary
Nil
(1) Subsidiaries acquired by means of establishment or investment
Nil
(2) Subsidiaries acquired by business combination under the common control
Nil
(3) Subsidiaries acquired by business combination not under the common control
Nil
2. Operational entity with controlling rights form through entrust operation or accepting leases from
special purpose entity
Nil
3. Explanation on changes of consolidation scope
Explanation on changes of consolidation scope
The scope of consolidation (aggregation) of financial statements covers the headquarter of the Company and
the subsidiary South China Grand Hotel of Hainan Dadonghai Tourism Center (Holdings) Co., Ltd., which is
subject to independent accounting.
There is no change in scope of consolidation (aggregation) of the financial statements of the Company in
2012.
4. Subject newly in consolidation scope and subject excluding the consolidation scope in reporting period
Nil
5. Enterprise consolidation under the same control in reporting period
Nil
57
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
6. Enterprise consolidation not under the same control in reporting period
Nil
7. Subsidiary reduced due to the equity with control losses sold in reporting period
Nil
8. Counter purchase occurred in reporting period
Nil
9. Consolidation by merger in reporting period
Nil
10. Discount rate on main statement items of overseas operational entity
Nil
。
VII. Notes to the main items of financial statements
1. Monetary funds
In RMB
Closing amount Opening amount
Item Foreign currency Conversion Foreign currency Conversion
RMB amount RMB amount
amount rate amount rate
Cash -- -- 722,088.44 -- -- 585,674.66
RMB -- -- 722,088.44 -- -- 585,674.66
Bank deposit -- -- 16,846,840.36 -- -- 14,549,636.02
RMB -- -- 16,846,840.36 -- -- 14,549,636.02
Other monetary funds -- -- -- -- 59,358.01
RMB -- -- -- -- 59,358.01
Total -- -- 17,568,928.80 -- -- 15,194,668.69
Explanation separately on accounts with use restriction, account save overseas and accounts has potential collected risk that due to
pledge, mortgage or frozen
No accounts, has restriction of realization, or saving overseas or has potential collected risk, due to pledge, mortgage or frozen at
balance of period-end
58
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
2. Transactional financial assets
(1) Transactional financial assets
Nil
(2) Realization of restricted transactional financial assets
Nil
(3) Explanation for hedge instruments and related hedge transactions
Nil
3. Notes receivables
(1) Classification of notes receivables
Nil
(2) Notes receivable already pledged by the Company at the end of the period
Nil
(3)Transfer of notes to notes receivable due to the issuer’s impossibility to perform its obligations, and
un-matured notes endorsed to others by the Company as at the period-end
Nil
4. Dividend receivables
Nil
5. Interests receivables
(1) Interests receivables
Nil
(2)Overdue interests
Nil
(3)Explanation on interest receivables
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
6. Accounts receivable
(1) Accounts receivable by type
In RMB
Closing amount Opening amount
Type Book balance Bad debt reserve Book balance Bad debt reserve
Proporti Proporti Proportio Proportion
Amount Amount Amount Amount
on (%) on (%) n (%) (%)
Accounts receivable with large
single amount and accrued for
1,339,625.51 26.15% 1,339,625.51 100% 1,339,625.51 29.94% 1,339,625.51 100%
provision of bad debt on a single
basis
Accounts receivable accrued for provision of bad debt by portfolio
Accounts receivable accrued for
3,783,000.01 73.85% 611,737.65 16.17% 3,135,248.33 70.06% 611,737.65 19.51%
provision of bad debt by portfolio
Portfolio subtotal 3,783,000.01 73.85% 611,737.65 16.17% 3,135,248.33 70.06% 611,737.65 19.51%
Accounts receivable with
insignificant single amount but
0.00 0% 0.00 0% 0.00 0% 0.00 0%
accrued for provision of bad debt on
a single basis
Total 5,122,625.52 -- 1,951,363.16 -- 4,474,873.84 -- 1,951,363.16 --
Explanation on type of account receivable
Nil
Accounts receivable with large single amount and accrued for provision of bad debt on a single basis at
period-end
√ Applicable □ Not applicable
In RMB
Accrual proportion
Accounts receivable Book balance Bad debt reserve Reason for accrual
(%)
Sanya Power Supply Company 773,409.98 773,409.98 100% 回收法无，长龄账
Hainan Hong Kong & Macao
464,563.21 464,563.21 100% 回收法无，长龄账
International Tourism Ltd.
Reception of Sanya Municipal 101,652.32 101,652.32 100% 回收法无，长龄账
Total 1,339,625.51 1,339,625.51 -- --
Accounts receivable accrued for provision of bad debt by aging analysis method in portfolio
√ Applicable □ Not applicable
In RMB
Age Closing amount Opening amount
60
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Book balance Book balance
Bad debt reserve Bad debt reserve
Proportion Proportion
Amount Amount
(%) (%)
Within 1 year
Including: -- -- -- -- -- --
Subtotal of within
2,987,523.07 78.97% 2,339,771.39 74.63%
1 year
1-2 years 26,895.00 0.71% 1,403.65 26,895.00 0.86% 1,403.65
2-3 years 108,094.91 2.86% 16,173.43 108,094.91 3.45% 16,173.43
3-4 years 68,208.31 1.8% 17,117.33 68,208.31 2.18% 17,117.33
4-5 years 30,522.00 0.81% 15,287.00 30,522.00 0.97% 15,287.00
Over 5 years 561,756.72 14.85% 561,756.24 561,756.72 17.91% 561,756.24
Total 3,783,000.01 -- 611,737.65 3,135,248.33 -- 611,737.65
Account receivables accrued for provision of bad debt by balance percentage method in portfolio
□ Applicable √ Not applicable
Account receivables accrued for provision of bad debt by other method in portfolio
□ Applicable √ Not applicable
Accounts receivable with insignificant single amount but accrued for provision of bad debt on a single basis at
period-end
□ Applicable √ Not applicable
(2) Accounts receivable switch-back or collected in reporting period
Nil
(3) Accounts receivable actually verified in reporting period
Nil
(4) Amount due from shareholder holding more than 5% (inclusive) voting shares of the Company among
ending balances
In RMB
Closing amount Opening amount
Company name Provision for bad Provision for bad
Book balance Book balance
debts debts
Luoniushan Co., Ltd. 21,190.66 6,179.00
Total 21,190.66 6,179.00
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(5) Top five accounts receivable
In RMB
Relationship with the Proportion in total accounts
Company name Amount Term
Company receivable (%)
Sanya Haiyuan Hotel Management
Non-related party 2,751,894.64 Within 1 year 53.72%
Ltd.
Sanya Power Supply Company Non-related party 775,304.98 Within 5 years 15.14%
Hainan Hong Kong & Macao
Non-related party 464,563.21 Within 5 years 9.07%
International Tourism Ltd.
Reception of Sanya Municipal Non-related party 101,652.32 Within 5 years 1.98%
PGS INTERNATIONAL LIMITE Non-related party 58,574.98 Within 1 year 1.14%
Total -- 4,151,990.13 -- 81.05%
(6) Account receivable from related parties
In RMB
Proportion in total accounts
Company name Relationship with the Company Amount
receivable (%)
Luoniushan Co., Ltd. First majority shareholder 21,190.66 0.41%
Total -- 21,190.66 0.41%
(7) De-recognition of account receivable
Nil
(8) Securitization with object of account receivables, listed the amount of assets and liability that continues
to involved
Nil
7. Other receivables
(1) Other receivables by type
In RMB
Closing amount Opening amount
Type Book balance Bad debt reserve Book balance Bad debt reserve
Proportio Proporti Proportio Proportio
Amount Amount Amount Amount
n (%) on (%) n (%) n (%)
62
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Other receivables with large
single amount and accrued for
77,363,143.31 94.57% 77,363,143.31 100% 77,363,143.31 96.31% 77,363,143.31 100%
provision of bad debt on a
single basis
Other receivables accrued for provision of bad debt by portfolio
Other receivables accrued for
provision of bad debt by 4,433,737.36 5.42% 735,902.11 16.59% 2,957,671.35 3.68% 735,902.11 24.88%
portfolio
Portfolio subtotal 4,433,737.36 5.42% 735,902.11 16.59% 2,957,671.35 3.68% 735,902.11 24.88%
Other receivables with
insignificant single amount but
5,690.00 0.01% 5,690.00 100% 5,690.00 0.01% 5,690.00 100%
accrued for provision of bad
debt on a single basis
Total 81,802,570.67 -- 78,104,735.42 -- 80,326,504.66 -- 78,104,735.42 --
Explanation on type of other receivables
Nil
Other receivables with large single amount and accrued for provision of bad debt on a single basis at period-end
√ Applicable □ Not applicable
In RMB
Other receivables Book balance Bad debt amount Accrual proportion (%) Reasons
Hainan Dadonghai Tourism Co.,
54,767,945.15 54,767,945.15 100% 回收法无
Ltd.
Cash dividends distributed in
16,899,000.00 16,899,000.00 100% 回收法无
1994-1996
Hainan Hong Kong & Macao
4,145,704.16 4,145,704.16 100% 回收法无
International Tourism Ltd.
Guangdong Jinma Tourism Ltd. 1,200,494.00 1,200,494.00 100% 回收法无
Shareholder custody fee 350,000.00 350,000.00 100% 回收法无
Total 77,363,143.31 77,363,143.31 -- --
Other receivables accrued for provision of bad debt by aging analysis method in portfolio
√ Applicable □ Not applicable
In RMB
Closing amount Opening amount
Age Book balance Book balance
Bad debt reserve Bad debt reserve
Proportio Proportio
Amount Amount
n (%) n (%)
Within 1 year
Including:
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Subtotal of within 1 year 3,697,076.48 83.39% 2,221,010.47 75.09%
1-2 years 288.70 0% 1,968.87 288.70 0.01% 1,968.87
2-3 years 804.80 0.02% 2,191.65 804.80 0.03% 2,191.65
Over 3 years 735,567.38 16.59% 731,741.59 735,567.38 16.59% 731,741.59
3-4 years 4,434.39 0.1% 1,108.60 4,434.39 0.15% 1,108.60
4-5 years 1,000.00 0.02% 500.00 1,000.00 0.03% 500.00
Over 5 years 730,132.99 16.47% 730,132.99 730,132.99 24.69% 730,132.99
Total 4,433,737.36 -- 735,902.11 2,957,671.35 -- 735,902.11
Other account receivables accrued for provision of bad debt by balance percentage method in portfolio
□ Applicable √ Not applicable
Other account receivables accrued for provision of bad debt by other method in portfolio
□ Applicable √ Not applicable
Other receivables with insignificant single amount but accrued for provision of bad debt on a single basis at
period-end
√ Applicable □ Not applicable
In RMB
Other receivables Book balance Bad debt reserve Accrual proportion (%) Reason for accrual
Petty cash 5,690.00 5,690.00 100% 回收法无
Total 5,690.00 5,690.00 -- --
(2) Other accounts receivable switch-back or collected in reporting period
Nil
(3) Other accounts receivable actually verified in reporting period
Nil
(4) Amount due from shareholders holding more than 5% (inclusive) voting shares of the Company among
other receivables as at December 31, 2012.
Nil
(5) Nature or content of other receivables with significant amount
Nil
(6) Top five other receivables
In RMB
64
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Relationship with Proportion in total other
Company name Amount Term
the Company receivables (%)
Hainan Dadonghai Tourism Co.,
Non-related party 54,767,945.15 Over 5 years 66.95%
Ltd.
Cash dividends distributed in
Non-related party 16,899,000.00 Over 5 years 20.65%
1994-1996
Hainan Hong Kong & Macao
Non-related party 4,145,704.16 Over 5 years 5.06%
International Tourism Ltd.
Sanya Haiyuan Hotel Management
Non-related party 2,808,368.63 Over 1 year 3.43%
Ltd.
Guangdong Jinma Tourism Ltd. Non-related party 1,200,494.00 Over 5 years 1.46%
Total -- 79,821,511.94 -- 97.55%
(7) Other account receivable from related parties
Nil
(8) De-recognition other account receivable
Nil
(9) Securitization with object of other account receivables, listed the amount of assets and liability that
continues to involved
Nil
8. Prepayments
(1) Prepayments by aging
In RMB
Closing amount Opening amount
Age Proportion Proportion
Amount Amount
(%) (%)
Within 1 year 163,547.45 100% 86,579.35 100%
Total 163,547.45 -- 86,579.35 --
Explanation on prepayment
Nil
65
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(2) Top five prepayments
In RMB
Relationship
Company name with the Amount Time Reason for unsettlement
Company
Non-related Goods on arrival without
Sanya Yangfan Hardware Firms 48,597.00 Within 1 year
party render an account
Haina Branch of Sunshine Property & Non-related
25,956.57 Within 1 year Premium unamortized
Casualty Insurance Company party
Hainan BOC International Travel Service Co., Non-related Amount paid without
22,610.00 Within 1 year
Ltd. party render an account
Non-related Goods on arrival without
Nursery of Sanya Luochunlin 21,560.00 Within 1 year
party render an account
Non-related Subscription fee
Sanya Morning Post 18,978.90 Within 1 year
party unamortized over
Total -- 137,702.47 -- --
Explanation for major unit prepayment
Nil
(3) Amount due from shareholder holding more than 5% (inclusive) voting shares of the Company among
ending balances of prepayment from related parties
Nil
(4) Explanation on prepayment
Nil
9. Inventories
(1) Classification of inventories
In RMB
Closing amount Opening amount
Item Provision for Provision for
Book balance Book value Book balance Book value
depreciation depreciation
Raw materials 1,005,691.90 751,854.37 253,837.53 976,543.28 752,585.71 223,957.57
Goods in process 18,574.65 18,574.65 29,836.85 29,836.85
Stock commodities 22,771.38 11,102.41 11,668.97 22,771.38 11,102.41 11,668.97
66
司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Revolving materials 19,999.68 26,061.33 26,061.33
Consumptive
19,999.68
biological assets
Total 1,067,037.61 762,956.78 304,080.83 1,055,212.84 763,688.12 291,524.72
(2) Inventory depreciation reserve
In RMB
Category of Book balance at Decreased in the Period Book balance at
Accrual in the Period
inventories period-begin Reversal Write-off period-end
Raw materials 752,585.71 731.34 751,854.37
Stock commodities 11,102.41 11,102.41
Total 763,688.12 731.34 762,956.78
(3) Particular about inventory depreciation reserve
Nil
10. Other current assets
Nil
11. Financial assets available for sale
(1) Particular about financial assets available for sale
Nil
(2) Long-term debt investment in financial assets available for sales
Nil
12. Held-to-maturity investment
(1) Particular about held-to-maturity investment
Nil
(2) Held-to-maturity investment that sold in report period but not expired
Nil
13. Long-term account receivable
Nil
14. Investment for affiliated enterprise and joint ventures
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
15. Long-term equity investment
(1) Details of long-term equity investment
In RMB
Explanation
Proport
on the Impai
ion of Proportio
incongruity rment
Incr share n of Cash
Calcu in share provis
ease/ holding voting bonu
lation Investment Balance at Balance at holding Impairment ion of
Invested company decr in rights in s this
meth cost period-begin period-end proportion provision accrui
ease investe invested perio
od and voting ng
(+,-) d company d
proportion in this
compan (%)
invested year
y (%)
company
Shenzhen Difu
Investment & Cost 5,000,000.00 5,000,000.00 5,000,000.00 14.28% 5,000,000.00
Development Ltd.
Hubei Jingsha
Dadonghai Club Cost 4,566,207.42 4,566,207.42 4,566,207.42 91% 4,566,207.42
Ltd.
Sanya Shun’an
Cost 5,150,166.84 5,150,166.84 5,150,166.84 70% 5,150,166.84
Casino
Total -- 14,716,374.26 14,716,374.26 14,716,374.26 -- -- -- 14,716,374.26
(2) Relevant particular about restriction of the ability of capital transfer to investment enterprises
Nil
16. Investment real estate
(1) Investment real estate measured by cost
Nil
(2) Investment real estate measured by fair value
Nil
17. Fixed assets
(1) Particular about fixed assets
In RMB
Book balance at Decreased in the Book balance at
Item Increase in this period
period-begin Period period-end
I. Total original book value: 187,518,993.94 573,434.00 188,092,427.94
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Including: Buildings and
156,679,569.41 517,724.00 157,197,293.41
constructions
Machinery
13,842,157.00 16,460.00 13,858,617.00
equipment
Transportation
1,808,106.77 1,808,106.77
facility
Electronic equipment 2,847,961.78 12,950.00 2,860,911.78
Other equipment 2,226,275.09 26,300.00 2,252,575.09
Improvement 10,114,923.89 10,114,923.89
Book balance at Increase during Accrual in this Decreased in the Balance at
--
period-begin this period period Period period-end
II. Total accumulated
86,786,578.23 2,554,558.10 89,341,136.33
depreciation:
Including: Buildings and
65,337,026.94 1,827,060.36 67,164,087.30
constructions
Machinery
8,302,218.92 310,585.36 8,612,804.28
equipment
Transportation
701,590.34 71,576.70 773,167.04
facility
Electronic equipment 1,671,122.77 167,774.94 1,838,897.71
Other equipment 1,160,710.70 104,128.36 1,264,839.06
Improvement 9,613,908.56 73,432.38 9,687,340.94
Book balance at Balance at
-- --
period-begin period-end
III. Total net book value of
100,732,415.71 -- 98,751,291.61
fixed assets
Including: Buildings and
91,342,542.47 -- 90,033,206.11
constructions
Machinery
5,539,938.08 -- 5,245,812.72
equipment
Transportation
1,106,516.43 -- 1,034,939.73
facility
Electronic equipment 1,176,839.01 -- 1,022,014.07
Other equipment 1,065,564.39 -- 987,736.03
Improvement 501,015.33 -- 427,582.95
IV. Total provision for
35,199,140.69 -- 35,199,140.69
impairment
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Including: Buildings and
32,449,653.81 -- 32,449,653.81
constructions
Machinery
2,527,851.26 -- 2,527,851.26
equipment
Electronic equipment 21,643.05 -- 21,643.05
Other equipment 199,992.57 --
Improvement -- 199,992.57
V. Total book value of fixed
65,533,275.02 -- 63,552,150.92
assets
Including: Buildings and
58,892,888.66 -- 57,583,552.30
constructions
Machinery
3,012,086.82 -- 2,717,961.46
equipment
Transportation
1,106,516.43 -- 1,034,939.73
facility
Electronic equipment 1,155,195.96 -- 1,000,371.02
Other equipment 865,571.82 -- 787,743.46
Improvement 501,015.33 -- 427,582.95
RMB2, 554,558.10 depreciated in this period; original price transfer as fixed assets from construction in process was RMB0.00
(2) Temporary idle fixed assets
In RMB
Accumulative
Item Original book value Impairment reserves Net book value Note
depreciation
Other equipment 230,710.58 20,306.92 199,992.57 10,411.09
(3) Fixed assets leasing-in by financing lease
Nil
(4) Fixed assets leasing-out by operational lease
Nil
(5) Fixed assets held for sale in period-end
Nil
(6) Fixed assets without property certificates
Nil
18. Construction in process
(1) Construction in process
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(2) Changes of major projects under construction
Nil
(3) Construction in process impairment provision
Nil
(4) Progress of material construction in progress
Nil
(5) Explanation of construction in process
Nil
19. Construction materials
Nil
20. Disposal of fixed assets
Nil
21. Productive biological assets
(1) Measured by cost
Nil
(2) Measured by fair value
Nil
22. Oil/gas assets
Nil
23. Intangible assets
(1) Particular about intangible assets
In RMB
Book balance at Book balance at
Item Increase in this period Decreased in the Period
period-begin period-end
I. Total original book value 87,315,277.74 0.00 0.00 87,315,277.74
Land use right 87,315,277.74 0.00 0.00 87,315,277.74
II. Total accumulated
29,013,814.76 434,363.58 0.00 29,448,178.34
amortization
Land use right 29,013,814.76 434,363.58 0.00 29,448,178.34
III. Total net book value of
58,301,462.98 -434,363.58 57,867,099.40
intangible assets
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Land use right 58,301,462.98 -434,363.58 57,867,099.40
IV. Total impairment
29,343,890.98 0.00 0.00 29,343,890.98
provisions
Land use right 29,343,890.98 0.00 0.00 29,343,890.98
Total book value of
28,957,572.00 -434,363.58 28,523,208.42
intangible asset
Land use right 28,957,572.00 -434,363.58 28,523,208.42
The amount amortized in this period accounting as 0.00 Yuan
(2) Expenditure of project development
Nil
24. Goodwill
Nil
25. Long-term deferred expense
In RMB
Opening Increase in this Amortization Reasons for other
Item Other decrease Closing amount
amount period during this period decrease
Painting of Hotel’s
785,408.14 147,264.06 638,144.08
external wall
Roof waterproof 191,666.71 49,999.98 141,666.73
Total 977,074.85 197,264.04 779,810.81 --
Explanation on long-term deferred expenses
Nil
26. Deferred income tax assets and deferred income tax liabilities
(1) Net amount of deferred income tax assets and deferred income tax liabilities before deduction
Nil
(2) Net amount of deferred income tax assets and deferred income tax liabilities after deduction
Nil
27. Provision for assets impairment
In RMB
Book balance at Increase in Decreased in the Period Book balance at
Item
period-begin this period Reversal Write-off period-end
I. Bad debt reserve 80,056,098.58 80,056,098.58
II. Inventory depreciation reserve 763,688.12 731.34 762,956.78
III. Provision reserve of financial assets 0.00 0.00
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
available for sale
V. Provision for impairment of long-term
0.00 0.00
equity investment
V. Long-term equity investment impairment
14,716,374.26 14,716,374.26
provision
VII. Provision for impairment of fixed
35,199,140.69 35,199,140.69
assets
VIII. Provision for construction materials 0.00 0.00
X. Provision reserve for productive
0.00 0.00
biological assets
Including: Provision reserve of mature
0.00 0.00
productive biological assets
XII. Provision for impairment of intangible
29,343,890.98 0.00 29,343,890.98
assets
XIII. Provision for impairment of goodwill 0.00
XIV. Other 0.00 0.00
Total 160,079,192.63 731.34 160,078,461.29
Explanation on provision for assets impairment
Nil
28. Other non-current assets
Nil
29. Short-term loans
(1) Type of Short-term Loans
Nil
(2) Short-term loans un-paid by expired
Nil
30. Transactional financial liabilities
Nil
31. Note payable
Nil
32. Accounts payable
(1) Accounts payable
In RMB
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Item Closing amount Opening amount
Within 1 year(including 1 year) 733,671.81 566,359.39
1-2 years (including 2 years) 907,591.31 907,591.31
2-3 years (including 3 years) 0.00 0.00
Over 3 years 507,882.93 507,882.93
Total 2,149,146.05 1,981,833.63
(2) Amount payable from shareholders holding more than 5% (inclusive) voting shares of the Company
among ending balances.
Nil
(3) Accounts payable with large amount and aging of over one year
Nil
33. Accounts received in advance
(1) Accounts received in advance
In RMB
Item Closing amount Opening amount
Within 1 year (including 1 year) 832,439.14 1,460,314.82
1-2 years (including 2 years) 247,432.38 247,432.38
2-3 years (including 3 years) 193,842.27 193,842.27
Over 3 years 129,840.14 129,840.14
Total 1,403,553.93 2,031,429.61
(2) Amount received in advance from shareholders holding more than 5% (inclusive) voting shares of the
Company among ending balances
Nil
(3) Accounts received in advance with large amount and aging of over one year
Company name Closing Reasons for Note
balance not carry
forward
Hainan Sea-view Paradise International Co., Ltd, Sanya Wuzhizhou 146,402.70 Account
Island Resort unsettled
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
34. Wages payable
In RMB
Book balance at Book balance at
Item Increase in this period Decreased in the Period
period-begin period-end
I. Salary, bonus,
allowance and 2,911,971.27 5,703,900.44 3,992,551.56 4,623,320.15
subsidy
II. Employee welfare 0.00 495,790.67 495,790.67
III. Social insurance
0.00 517,156.46 438,075.66 79,080.80
expense
Medical insurance
0.00 139,976.64 118,140.16 21,836.48
expenses
Basic
endowment 0.00 339,948.44 288,436.44 51,512.00
insurance expenses
Annuity 0.00
Unemployment 0.00 17,821.30 15,091.74 2,729.56
insurance expenses
Work injury
0.00 8,910.50 7,545.72 1,364.78
insurance expenses
Maternity insurance
0.00 10,499.58 8,861.60 1,637.98
expenses
IV. Housing
0.00 38,292.50 38,292.50
provident funds
V. Dismissal welfare 0.00
VI. Others 726,586.78 195,024.88 56,556.61 865,055.05
Total 3,638,558.05 6,950,164.95 5,021,267.00 5,567,456.00
Default amount in employee compensation payable was 0.00
Labor union expenditure and employee education funds was 0.00 Yuan, non-monetary welfare was 0.00 Yuan and compensation for
labor service terminated was 0.00 Yuan
Arrangement of pay date and amount for employee compensation payable
Nil
35. Tax payable
In RMB
Item Closing amount Opening amount
Value added tax 135,982.62 135,982.62
Business tax 44,587.40 156,316.48
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Enterprise income tax -1,702,702.80 -1,702,702.80
Income tax 3,377.23
Urban maintenance and construction tax 3,121.12 10,942.15
Educational surtax 2,229.38 7,815.83
Property tax 187,595.25 187,595.25
Land use tax 72,393.00 72,393.00
Total -1,253,416.80 -1,131,657.47
For the mutual adjustment on taxable amount between vary companies and plants, authorized by local taxation bureau, explain the
taxation procedures
Nil
36. Interest payable
Nil
37. Dividend payable
Nil
38. Other payables
(1) Other payables
In RMB
Item Closing amount Opening amount
Within 1 year (including 1 year) 2,803,020.37 1,692,773.93
1-2 years (including 2 years) 226,685.47 226,685.47
2-3 years (including 3 years) 2,729.00 2,729.00
Over 3 years 23,232,454.51 23,232,454.51
Total 26,264,889.35 25,154,642.91
(2) Amount due to shareholders holding more than 5% (inclusive) voting shares of the Company among
ending balances
In RMB
Company name Closing amount Opening amount
Luoniushan Co., Ltd. 800,000.00 800,000.00
Total 800,000.00 800,000.00
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(3) Other payables with large amount and aging of over one year
Company name Closing balance Reasons of un-repay Note
China Securities Regulatory Commission 19,810,000.00 Financial difficulty
Sun Hongjie 1,000,000.00 Guarantee deposit
Luoniushan Co., Ltd. 800,000.00 Related debt
Hong Kong Deloitte & Touche LLP 285,003.21 Audit fees
Securities Times 265,478.17 Financial difficulty
Total 22,160,481.38
(4) Other payables with large amount
Company name Closing balance Nature or content Note
China Securities Regulatory Commission 19,810,000.00 Fine for rule-breaking operation on
the stock of the Company
Sanya Dadonghai Donghailonggong Food City 1,919,188.18 Current account
Sun Hongjie 1,000,000.00 Guarantee deposit
Luoniushan Co., Ltd. 800,000.00 Current account
Securities Times 265,478.17 Historical arrears
Total 23,794,666.35
39. Accrual liability
Nil
40. Non-current liability due within one year
(1) Non-current liability due within one year
Nil
(2) Long-term loans due within one year
Nil
(3) Bond payable due within one year
Nil
(4) Long-term account payable due within one year
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
41. Other current liability
Nil
42. Long-term loan
(1) Category of long-term loans
Nil
(2) Top five long-term loans
Nil
43. Bond payable
Nil
44. Long-term account payable
(1) Top five long-term account payable
Nil
(2)Details of financing rent payable in long-term payable
Nil
45. Specific payable
Nil
46. Other non-current liability
Nil
47. Share capital
In Share
Pre-changed Increased /decreased(+,-) Post-changed
Share Share capital
Proportion New Proportio
s converted
Amount shares Others Sub-total Amount
(%) grant from reserve n (%)
issued
ed fund
I. Restricted shares 17,176,000 4.72% 17,176,000 4.72%
1. State-owned shares
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
2. State-owned
5,922,000 1.63% -1,321,800 -1,321,800 4,600,200 1.26%
corporate shares
3. Other domestic
11,254,000 3.09% 1,321,800 1,321,800 12,575,800 3.46%
shares
Including: domestic
11,122,000 3.05% 1,321,800 1,321,800 12,443,800 3.42%
corporate shares
Domestic nature
132,000 0.04% 132,000 0.04%
person shares
II. Unrestricted shares 346,924,000 95.28% 346,924,000 95.28%
1. RMB ordinary shares 258,924,000 71.11% 258,924,000 71.11%
2. Domestically listed
88,000,000 24.17% 88,000,000 24.17%
foreign shares
III. Total shares 364,100,000 100% 364,100,000 100%
48. Treasury stock
Explanation on treasury stock
Nil
49. Reasonable reserves
Explanation on reasonable reserves
Nil
50. Capital reserves
In RMB
Decreased in the
Item Opening amount Increase in this period Closing amount
Period
Capital (share capital) premium 33,336,215.58 33,336,215.58
Other capital reserves 20,806,634.43 20,806,634.43
Total 54,142,850.01 54,142,850.01
Explanation on capital reserves
Nil
51. Surplus reserves
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
52. General risk reserves
Nil
53. Retained profits
In RMB
Proportion of appropriation
Item Amount
or distribution
Retained profit of year-end of last year before
-334,131,682.19 --
adjustment
Retained profit of year-begin after adjustment -334,131,682.19 --
Plus: net profit attributable to owner of parent
-481,971.51 --
company in 2012
Retained profits as at December 31, 2012 -334,613,653.70 --
Adjustment of undistributed profit at year-begin:
1) For the retroactive adjustment based on Accounting Standards for Business Enterprises and other relevant regulations, affected
undistributed profit at year-begin of RMB
2) For changes of accounting policies, affected undistributed profit at year-begin of RMB
3) For correction on major accounting errors, affected undistributed profit at year-begin of RMB
4) For changes of consolidation scope from same controlling, affected undistributed profit at year-begin of RMB
5) Other adjustment totally affected undistributed profit at year-begin of RMB
Explanation on undistributed profit
For company initially public offering securities, well explained that if the accumulated profit before offering, being decided by
shareholders’ general meeting, shares by old and new shareholders; for the accumulated profit before offering, being decided by
shareholders’ general meeting, distribute before offering and shares by old shareholders, well disclosed the audited profit shares by
old shareholders in dividend payable
Nil
54. Operating income and operating costs
(1) Operating income and operating costs
In RMB
Item Amount of this period Amount of last period
Income from primary business 14,778,787.50 20,425,639.30
Operating costs 5,091.20 3,022,082.13
(2) Primary business (by industry)
In RMB
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Amount of this period Amount of last period
Industry
Operating income Operating cost Operating income Operating cost
Tourism, catering and service
14,778,787.50 5,091.20 20,425,639.30 3,022,082.13
industry
Total 14,778,787.50 5,091.20 20,425,639.30 3,022,082.13
(3) Primary business (by products)
In RMB
Amount of this period Amount of last period
Product
Operating income Operating cost Operating income Operating cost
Guest room 14,778,787.50 5,091.20 15,662,395.50 5,168.33
Catering 4,763,243.80 3,016,913.80
Total 14,778,787.50 5,091.20 20,425,639.30 3,022,082.13
(4) Primary business (by region)
In RMB
Amount of this period Amount of last period
Region
Operating income Operating cost Operating income Operating cost
Hainan region 14,778,787.50 5,091.20 20,425,639.30 3,022,082.13
Total 14,778,787.50 5,091.20 20,425,639.30 3,022,082.13
(5) Business income from top five customers
In RMB
Name of customer Total business income Proportion in total business income of the Company (%)
PGS INTERNATIONAL LIMITED 3,036,570.00 20.54%
Hainan Chenda International Tourism Ltd. 520,110.00 3.52%
Hainan Sanping International Tourism Co.,
505,866.00 3.42%
Ltd.
Zhong Guotao 401,789.00 2.72%
Sanya Shengda International Tourism Ltd. 326,184.00 2.21%
Total 4,790,519.00 32.41%
Explanation on business income
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
55. Income from contract projects
Nil
56. Business tax and surcharges
In RMB
Item Amount of this period Amount of last period Taxation basis (%)
Business tax 738,939.38 1,021,281.97 5
Urban maintenance and construction
51,725.75 71,489.74 7
tax
Educational surtax 22,168.18 30,638.46 3
Resources tax 14,778.79 20,425.65 2
Total 827,612.10 1,143,835.82 --
Explanation on business tax and surcharges
Nil
57. Sale expenses
In RMB
Item Amount of this period Amount of last period
Sale expenses 5,866,274.92 8,445,611.25
Total 5,866,274.92 8,445,611.25
58. Administrative expenses
In RMB
Item Amount of this period Amount of last period
Administrative expenses 8,568,614.42 7,031,751.32
Total 8,568,614.42 7,031,751.32
59. Financial expenses
In RMB
Item Amount of this period Amount of last period
Less: interest income -40,154.79 -22,990.40
Other 108,267.51 180,331.52
Total 68,112.72 157,341.12
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
60. Gains from changes of fair value
Nil
61. Gains on investment
(1) Details of gains on investment
In RMB
Item Amount of this period Amount of last period
Gains on long-term equity investment calculated by
3,932.08
equity method
Total 3,932.08
(2) Gains of long-term equity investment based on cost method
Nil
(3) Gains of long-term equity investment based on equity method
Nil
62. Losses on assets impairment
Nil
63. Non-operating income
(1) Non-operating income
In RMB
Amount included in
Item Amount of this period Amount of last period
current non-recurring profits or losses
Total gains on disposal of
200.00 3,920.00 200.00
non-current assets
Including: gain on disposal of
200.00 3,920.00 200.00
fixed assets
Income from compensation 57,991.70 87,630.00 57,991.70
Sale of land exchange title
letter
Other 17,954.65 66,562.05 17,954.65
Total 76,146.35 158,112.05 76,146.35
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(2) Government grants
Nil
64. Non-operating expenses
In RMB
Amount included in
Item Amount of this period Amount of last period
current non-recurring profits or losses
Total losses on disposal of
200.00
non-current assets
Including: loss on disposal of
1,173.46
fixed assets
Penalty expenses 1,200.00 1,200.00
Total 1,200.00 1,173.46 1,200.00
Explanation on non-operating expenses
Nil
65. Income tax expenses
In RMB
Item Amount of this period Amount of last period
Current income tax calculated based on tax law and relevant
196,472.08
rules
Total 196,472.08
66. Calculation of basic earnings per share and diluted earnings per share
1. Basic earnings per share
Basic earnings per share=P0÷S
S= S0+S1+Si×Mi÷M0–Sj×Mj÷M0–Sk
Of which, P0 represents net profit attributable to ordinary shareholders of the Company or net profits attributable to ordinary
shareholders after deducting non-recurring profits or losses; S represents the weighted average number of outstanding ordinary shares;
S0 represents total number of shares at the beginning of the period; S1 represents shares increased from conversion of reserve fund
into share capital or share dividend distribution in the reporting period; Si represents shares increased from issue of new shares or
conversion of debt into equity in the reporting period; Sj represents the shares reduced from repurchase during the reporting period;
Sk represents the number of reduced shares during the reporting period; M0 represents number of months in the reporting period; Mi
represents the number of months from the month immediately following the increase of shares to the end of the reporting period; Mj
represents the number of months from the month immediately following the decrease of shares to the end of the reporting period .
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
2. Diluted earnings per share
Diluted earnings per share = P1/(S0+S1+Si×Mi÷M0–Sj×Mj÷M0–Sk+ weighted average number of ordinary shares increased from
warrants, share options and convertible bonds).
Of which, P1 represents net profits attributable to ordinary shareholders of the Company or net profits attributable to ordinary
shareholders of the Company after deducting non-recurring profits or losses, and has been adjusted in accordance with Accounting
Standards for Business Enterprises and the relevant regulations after taking the effect of dilutive potential ordinary shares into
consideration. When calculating the diluted earnings per share, the Company shall take into account all the effect of dilutive potential
ordinary shares on net profits attributable to ordinary shareholders of the Company or net profits attributable to ordinary shareholders
of the Company after deducting non-recurring profits or losses and the weighted average number of shares, and include in diluted
earnings per share according to the magnitude of dilution in an ascending order until the dilutive earnings per share is reduced to the
lowest level.
(1) Basic earnings per share
Basic earnings per share is calculated by dividing combined net profits attributable to ordinary shareholders of the Company by
weighted average number of outstanding ordinary shares of the Company:
Item Amount of this period Amount of last period
Combined net profits attributable to ordinary shareholders of the -481,971.51 589,416.25
Company
Weighted average number of outstanding ordinary shares of the 364,100,000.00 364,100,000.00
Company
Basic earnings per share (RMB per share) -0.0013 0.0016
Calculation of weighted average number of ordinary shares:
Item Amount of this period Amount of last period
Number of ordinary shares issued as at January 1, 2012 364,100,000.00 364,100,000.00
Plus: weighted number of ordinary shares issued in 2012
Less: weighted number of ordinary shares repurchased in 2012
Weighted number of ordinary shares outstanding as at December 364,100,000.00 364,100,000.00
31, 2012
(2) Diluted earnings per share
Diluted earnings per share is calculated by dividing combined net profits attributable to ordinary shareholders of the Company after
adjustment by weighted average number of outstanding ordinary shares of the Company after adjustment:
Item Amount of this period Amount of last period
Combined net profits attributable to ordinary shareholders of the -481,971.51 589,416.25
Company (diluted)
Weighted average number of outstanding ordinary shares of the 364,100,000.00 364,100,000.00
Company (diluted)
Diluted earnings per share (RMB per share) -0.0013 0.0016
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
67. Other comprehensive income
Nil
68. Notes to statement of cash flows
(1) Other cash receipts related to operating activities
In RMB
Item Amount
Indemnity income etc. 2,341,467.17
Repayment from employee 20,000.00
Interest income 40,495.40
Current account
Other
Total 2,401,962.57
Explanation on other cash receipts related to operating activities
Nil
(2) Cash paid for other operating activities
In RMB
Item Amount
Sale and administrative expenses 2,286,584.03
Financial expenses 108,608.12
Other 319,652.57
Total 2,714,844.72
Explanation on cash paid for other operating activities
Nil
(3) Cash received with other investment activities concerned
Nil
(4) Cash paid for other investment activities
Nil
(5) Cash received with other financing activities concerned
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(6) Cash paid for other financing activities
Nil
69. Supplementary information of statement of cash flows
(1) Supplementary information of statement of cash flows
In RMB
Item Amount of this period Amount of last period
1. Net profit adjusted to cash flow from operating activities -- --
Net profit -481,971.51 589,416.25
Depreciation of fixed assets, depletion of oil and gas assets
2,554,558.10 3,207,296.32
and depreciation of productive biological assets
Amortization of intangible assets 434,363.58 434,363.58
Amortization of long-term deferred expenses 197,264.04 197,264.04
Loss on disposals of fixed assets, intangible assets and
-200.00 -2,746.54
other long-term assets("-" for gains)
Investments loss ("-" for gains) -43,398.28
Decrease in inventories ("-" for increases) -12,556.11 336,677.78
Decrease in operating receivables ("-" for increases) -8,329,538.41 -668,496.69
Increase in operating payables ("-" for decreases) 8,585,574.42 -4,334,535.79
Net cash flow from operating activities 2,947,494.11 -284,159.33
2. Significant investing and financing activities not
-- --
involving cash inflow and outflow
3. Net changes in cash and cash equivalents -- --
Ending balance of cash 17,568,928.80 2,547,675.25
Less: beginning balance of cash 15,194,668.69 12,374,582.48
Net increase in cash and cash equivalents 2,374,260.11 -9,826,907.23
(2) Subsidiary or other operation units obtained or disposed in reporting period
Nil
(3) Composition of cash and cash equivalents:
In RMB
Item Closing amount Opening amount
I. Cash 17,568,928.80 15,194,668.69
Including: cash on hand 722,088.44 585,674.66
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Bank deposit available for payment at any time 16,846,840.36 14,549,636.02
II. Ending balance of cash and cash equivalents 17,568,928.80 15,194,668.69
Explanation on supplementary information of statement of cash flows
Nil
70. Notes on items of changes of owner’s equity
Name and adjusted amount on “Other” at balance of year-end of last year, and retroactive adjustment arising from enterprise
combination under the same control
Nil
VIII. Accounting treatment of assets securitization
1. Explain the main exchange of assets securitization and its accounting treatment and provision of
bankruptcy-remote
Nil
2. Subject of special purpose without controlling rights on hand by actually bear the risks
Nil
IX. Related Parties and Transactions
1. Parent company of the Company
Nil
2. Subsidiary of the Company
Nil
3. Details of joint-venture and affiliated enterprise of the Company
Nil
4. Particulars about other related parties
Relationship with the
Other related parties Organization code
Company
Luoniushan Co., Ltd. First majority shareholder 28408974-7
Explanation on other related parties:
As of 30 June 2013, Luoniushan Co., Ltd. holds 61.0903 million shares of the Company with 16.81 percent
occupied in total share capital of the Company, and it is the first majortiy sharehodler of the Company. On 11 July
2013, largest sharehodler of the Company changed the name to “Luoniushan Group Co., Ltd.” from “Hainan
Luoniushan Holding Group Co., Ltd.”. And the company’s name changed to “Luoniushan Co., Ltd.” from former
“Haikou Agriculture & Industry & Trade (LUONIUSHAN) Co., Ltd.”.
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
5. Related transaction
(1) Statement of commodity purchased and labor service received
In RMB
Amount of this period Amount of last period
Pricing way and Ratio in Ratio in
Related party Content decision making similar similar
Amount Amount
procedures transactio transactio
ns (%) ns (%)
Luoniushan Co., Ltd. Accommodation, catering Market price 196,416.66 1.32% 247,602.44 1.21%
Goods sold and labor service offering
Nil
(2) Related entrust/contract
Nil
(3) Related leasing
Nil
(4) Related guarantee
Nil
(5) Borrowed funds of related party
Nil
(6) Related party’s assets transfer and debt reorganization
Nil
(7) Other related transactions
Nil
6. Receivables and payables of related parties
Receivables from related parties by listed company
In RMB
period-end period-begin
Item Related party
Book balance Bad debt reserve Book balance Bad debt
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
reserve
Accounts receivable Luoniushan Co., Ltd. 21,190.66 6,179.00
Payables to related parties by listed company
In RMB
Item Related party Amount as at period-end Amount as at period-begin
款付应他其 Luoniushan Co., Ltd. 800,000.00 800,000.00
X. Share-based payment
1. General particular about share-based payment
Nil
2. Share-based payment settled by equity
Nil
3. Share-based payment settled by cash
Nil
4. Share-based payment for service
Nil
5. Particular about amendment of share payment and its termination
Nil
XI. Contingency
1. Contingent liability and its financial influence formed by un-settle lawsuits or arbitration
Nil
2. Contingent liability and its financial influence formed from debt guarantee offered to other units
Nil
Other contingent liability and its financial influence:
Nil
XII. Commitments
1. Material commitments
Nil
2. Commitments made previously
Nil
XIII. Event after balance sheet date
1. Explanation on important events after balance sheet date
Nil
2. Profit distribution after balance sheet date
Nil
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
3. Explanation on other events after balance sheet date
Nil
XIV. Other significant events
1. Non-monetary assets exchange
Nil
2. Debt reorganization
Nil
3. Enterprise combination
Nil
4. Leasing
Nil
5. Financial instrument issued and convertible to shares at period-end
Nil
6. Assets and liability measure by fair value
Nil
7. Foreign currency financial assets and foreign financial liability
Nil
8. Pension plan and major changes
Nil
9. Other
1. The Liabilities Statement on Objectives Operation and Management of South China Grand Hotel concluded by
and between the Company and Mr. Sun Hongjie has a term of five years, i.e., from May 1, 2011 to April 30, 2016.
According to stipulations in such Liabilities Statement on Objectives Operation and Management, during the
objectives operation and management period, the base profit index of internal assessment shall be RMB 1.1
million, and 60% of the excess over such base index shall be rewarded to Mr. Sun Hongjie and his management
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
team.
2. On November 26, 2012, the Company and Hainan Luoniushan Holdings Group Co., Ltd. (hereinafter referred
to as “Luoniushan Group”) concluded an Agreement on Equity Assignment which agreed that, the Company shall
assign its equity of 31.03% in Hainan Luoniushan Agricultural Technology Co., Ltd. (hereinafter referred to as
“Agricultural Technology Company”) to Luoniushan Group for a consideration of RMB 10 million. Luoniushan
Group has paid the equity assignment amount of RMB 10 million to the Company on December 7, 2012
according to the Agreement, and the Company has coordinated with Luoniushan Group and Agricultural
Technology Company in the handling of amendments to the articles of association for such assignment and related
issues. In view of that the registration change procedures with the industrial & commercial bureau was still in
process as at December 31, 2012, the Company and Luoniushan Group concluded a Supplementary Agreement on
Equity Assignment in which both agreed that, as of the date when Luoniushan Group paid the full equity
assignment amount to the Company, the rights and obligations of both parties as agreed in the Agreement on
Equity Assignment had been fully performed. Meanwhile, Luoniushan Group confirmed that, all risks assumed
and reward enjoyed originally by the Company in Agricultural Technology Company should be transferred to
Luoniushan Group.
XV. Note on financial statement of parent company
Nil
XVI. Supplementary information
1. Current non-recurring gains/losses
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
200.00
write-off that accrued for impairment of assets)
Other non-operating income and expenditure except for the
74,746.35
aforementioned items
Total 74,946.35 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
2. Difference of the accounting data under accounting rules in and out of China
(1) Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount in this period Amount in last period Closing amount Opening amount
Chinese GAAP -481,971.51 589,416.25 83,629,196.31 84,111,167.82
Items and amount adjusted by IAS
IAS -481,971.51 589,416.25 83,629,196.31 84,111,167.82
(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount in this period Amount in last period Closing amount Opening amount
Chinese GAAP -481,971.51 589,416.25 83,629,196.31 84,111,167.82
Items and amount adjusted by foreign accounting rules
Foreign accounting rules -481,971.51 589,416.25 83,629,196.31 84,111,167.82
(3) Reasons for the differences of accounting data under accounting rules in and out of China
3. ROE and EPS
In RMB
Weighted average EPS
Profit in the Period
ROE (%) Basic EPS Diluted EPS
Net profit attributable to common shareholders of the
-0.57% -0.0013 -0.0013
Company
Net profit attributable to common shareholders of the
-0.66% -0.0015 -0.0015
Company after deducting non-recurring gains/losses
4. Abnormalities and reasons of the accounting statement items of the Company
Item Closing balance Opening balance Changes Reasons
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
(or amount of this (or amount of last (+,-) (%)
period) period)
Account receivable 3,171,262.36 2,523,510.68 25.66 The amount receivable from sales increased
Account paid in 163,547.45 86,579.35 88.90 The amount paid in advance for good purchased
advance increased
Other account 3,697,835.25 2,221,769.24 66.43 Other amount receivable increased
receivable
Long-term deferred 779,810.81 977,074.85 -20.18 Amortized in the Period
expenses
Account received in 1,403,553.93 2,031,429.61 -30.91 The sales amount carried forward
advance
Wages payable 5,567,456.00 3,638,558.05 53.01 Salary increased and the accrual of hotel performance
remuneration
Operation revenue 14,778,787.50 20,425,639.30 -27.64 Food and beverage outsourcing, relevant operation
revenue declined
Operation cost 5,091.20 3,022,082.13 -99.83 Food and beverage outsourcing, relevant operation
cost declined
Business tax and 827,612.10 1,143,835.82 -27.64 The revenue declined
surcharge
Sales expenses 5,866,274.92 8,445,611.25 -30.54 Food and beverage outsourcing, expense of salary and
utilities decreased
Administrative 8,568,614.42 7,031,751.32 21.85 The enterrainment expenses, promotion charge and
expenses salary increased and the sharing for above the quota
of hotel accrued
Financial expenses 68,112.72 157,341.12 -56.71 The revenue declined, and settlment handling charge
expenses declined
Operation profit -556,917.86 628,949.74 -188.54 The revenue decreased and administration expenses
growth
Non-operation 76,146.35 158,112.05 -51.84 Indemnity income and other revenue decreased
revenue
Ne profit -481,971.51 589,416.25 -181.77 The revenue decreased and administration expenses
growth
Net cash flow arising 2,947,494.11 -284,159.33 1,137.26 Food and beverage outsourcing, the expenses from
from operation cost of good purchased decreased
activities
Net cash flow arising -573,234.00 -9,542,747.90 -93.99 The investment decreased
from investment
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
activities
Closing balance of 17,568,928.80 2,547,675.25 589.61 Together affected by the y-o-y growth of net cash
cash and cash flow arising from operation activities and the y-o-y
equivalent decrase of net cash flow arising from investment
activites
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司公限有份股心中游旅海东大南海 2013 文全告报度年半年
Section IX. Documents available for reference
I. Text of Semi-ananual reprot 2013 with the signature of corporate of the Company.
II. Financial statement with signature and seal of legal person, person in charge of accounting
works and person in charge of accounting organ;
III. Text of the fiel and draf of the annucement under the name of the Company that released on
website appoited by CSRC in reporting period.
IV. Other relevant fiels
The above said documents are prepared in the security department of the Company
Board of Director of
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Chairman: Li Yuanbin
28 August 2013
96
