司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Stock Code: 000613, 200613 Short Form of the Stock: Dadonghai-A, Dadonghai-B
海南大东海旅游中心股份有限公司
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Semi-Annual Report 2019
(Full-text)
Disclosure Date: 10 August 2019
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司公限有份股心中游旅海东大南海 2019 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.
Yuan Xiaoping, Principal of the Company, Fu Zongren, person in charger of accounting works
and Fu Zongren, person in charge of accounting organ (accounting principal) hereby confirm
that the Financial Report of 2019 Semi-Annual Report is authentic, accurate and complete.
All directors are attending the Board Meeting for Report deliberation.
The Company has no plan of cash dividends carried out, bonus issued and capitalizing of
common reserves either.
Concerning the forward-looking statements with future planning involved in the Report, they
do not constitute a substantial commitment for investors. Investors are advised to exercise
caution of investment risks.
Content
Semi-Annual Report 2019....................................................................................................................1
Section I Important Notice adn Paraphrase.......................................................................................... 2
Section II Company Profile and Main Finnaical Indexes.................................................................... 5
Section III Summary of Company Business........................................................................................ 8
Section IV Discussion and Analysis of Operation............................................................................. 10
Section V Important Events................................................................................................................16
Section VI Changes in shares and particular about shareholders.......................................................27
Section VII Preferred Stock................................................................................................................31
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section VIII Particulars about Directors, Supervisors and Senior Executives...................................32
Section IX Corporate Bonds...............................................................................................................33
Section X Financial Report................................................................................................................ 34
Section XI Documents available for reference.................................................................................121
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Paraphrase
Items Refers to Contents
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 (Holdings) Co.,
Article of Association Refers to
Ltd.
Shareholders’ General Meeting of Hainan Dadonghai Tourism Centre
Shareholders’ General Meeting Refers to
(Holdings) Co., Ltd.
Board Refers to Board of Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Supervisory Committee of Hainan Dadonghai Tourism Centre (Holdings) Co.,
Supervisory Committee Refers to
Ltd.
Yuan Refers to CNY/RMB
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 2019, 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 2019 文全告报度年半年
Section II. Company Profile and Main Financial Indexes
I. Company information
Short form of the stock Da donghai-A, Dadonghai-B Stock code 000613, 200613
Short form of the Stock after
N/A
changed
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in Chinese) 司公限有份股心中游旅海东大南海
Short form of the Company (in
Chinese)
海东大
Foreign name of the Company Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd
Foreign name of short form of the
DADONGHAI
Company
Legal representative Yuan Xiaoping
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Wang Hongjuan
Contact add. 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 have no change in reporting period,
found more details in Annual Report 2018.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
□ 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 2018.
IV. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data
□ Yes √ No
Same period Increase/decrease in this report
Current period
of last year y-o-y
Operating revenue (RMB) 14,241,961.04 16,173,929.32 -11.94%
Net profit attributable to shareholders of the listed company
755,974.01 1,282,165.58 -41.04%
(RMB)
Net profit attributable to shareholders of the listed company
595,943.55 1,282,370.56 -53.53%
after deducting non-recurring gains and losses (RMB)
Net cash flow arising from operating activities (RMB) 1,269,416.65 3,110,677.60 -59.19%
Basic earnings per share (RMB/Share) 0.0021 0.0035 -40.00%
Diluted earnings per share (RMB/Share) 0.0021 0.0035 -40.00%
Weighted average ROE (%) 0.97% 1.65% -0.68%
Increase/decrease in this
End of current End of last
report-end over that of last
period period
period-end
Total assets (RMB) 87,407,933.32 88,197,118.07 -0.89%
Net assets attributable to shareholder of listed company
78,544,670.30 77,788,696.29 0.97%
(RMB)
V. 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)
□ Applicable √ Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International
Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period.
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)
□ Applicable √ Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or
Chinese GAAP (Generally Accepted Accounting Principles) in the period.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
VI. Items and amounts of extraordinary profit (gains)/loss
√Applicable □ Not applicable
In RMB
Item Amount Note
Other 160,030.46 Clean up long-term unpaid payable
Total 160,030.46 --
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
In reporting period, the Company has no particular about 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
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section III. Summary of Company Business
I. Main businesses of the company in the reporting period
Whether the company needs to comply with the disclosure requirements of the particular industry
No
The company's main business is hotel accommodation and catering services. Procurement of goods is mainly the goods and materials
necessary for hotel and catering operations by taking the principle of low price and fine quality, some goods are purchased by
directly signing purchase contracts with suppliers, and some good are purchased by procurement agents. The operation are mainly
including the network billing and overseas travel agency team, and supplemented by the individual travelers of non-internet
marketing and business and the tourists from travel agencies. The hotel is located at the central zone of Dadonghai scenic spot in
Sanya City, Hainan Province, and it has become a member of the nationwide famous hotels because of the convenient transportation,
beautiful environment, long history, and rich culture. However, in recent years, the local high-, middle- and low-grade hotels or
guesthouses numerously emerge, resulting in the supply much larger than the market demand, the industry competition is rather
fierce, and the pressure of decline in business remains.
II. Major changes in main assets
1. Major changes in main assets
Major assets Note of major changes
Decreased 0.27 million Yuan over that of year beginning, mainly because funds returned increased in
Account receivable
reporting period
Increased 0.78 million Yuan over that of year beginning, mainly because the petty cash and court fee
Other receivables
increased at end of the period
2. Main overseas assets
□ Applicable √ Not applicable
III. Core Competitiveness Analysis
Whether or not the Company complies with disclosure requirement of the special industry
No
The company takes hotel accommodation and catering services as the principle works, locates at Dadonghai bay which is one of the
China “Top 40 scenery” and the only AAAA scenic spot open for free in Sanya and has the maximum passenger flow volume in
Sanya City, and is about a 5-minute drive from downtown of Sanya City and about a 30-minute drive from Sanya Phoenix Airport.
The hotel is only tens of meters distant from the sea level, possesses beautiful landscaping full of blooming flowers all the year round,
and enjoys exceptional geography, natural environmental advantages. The hotel has opened for more than two decades which is one
of the oldest hotels in Sanya and has received many domestic and foreign heads of state and national leaders. In the recent years, the
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
company has comprehensively upgraded and rebuilt the hotel’s software and hardware facilities, further improved the hotels internal
and external business environment, and effectively enhanced the business competitiveness. Currently, the management of the
company’s hotel is still in the front rank among hotels in the same area, with the same scale, and at the same level.
In the future work, the company will keep trying to improve the hotel’s internal and external business environment, strengthen the
sales efforts and the staff construction, and further improve the operational capability. During the reporting period, the company's
core competence had no significant change.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section IV. Discussion and Analysis of Operation
I. Introduction
During the reporting period, the company realized main business income of 14,242,000 Yuan, decreased by
1,932,000 Yuan compared with the same period last year, a decrease of 11.94%; net profit of 756,000 Yuan,
decreased by 526,200 Yuan compared with the same period last year, a decrease of 41.04%.
During the reporting period, the Company focus on market-oriented and use marketing strategy in a flexible way
to exploited the sales channel, meanwhile, strengthening enterprise culture construction as well as the employee
team-building, making efforts to improve product’s quality, strictly controlling the cost management, perfect the
Company’s internal control system in order to reduce the risks and consumption for more income earns and less
expenditure costs, we completed the operation targets that formulated at beginning of the year basically. Main
works are as:
1. Market-oriented, use marketing strategy in a flexible way to exploit the sales channel
During the reporting period, the Company actively expanded the network market, the Russian market and the
southwest, north, east and southern China markets in addition to further consolidating its existing customer bases
oriented by markets with flexible utilization of marketing strategies. Besides, increasing cooperation was made
by the Company with domestic and foreign well-known travel agencies, sales network platforms and direct-sale
travel agencies in the first and second tier cities. The Company also conducted implementation of sales
incentives and sales mechanism involving every staff, to increase the market share in terms of sales.
2. People-oriented, strengthen the enterprise with high-quality, strive to improve product quality and enhance the
competitive-ness of enterprises
In reporting period, in line with the Human-Oriented employment ideality, we continuously enriched the culture
life for employees, create a harmonious working environment and strengthen the construction of enterprise culture
and staff-building. At the same time, create new management mechanism, motivate and mobilized the enthusiasm,
initiative and creativity of the staff. Based on the management ideal of “strengthen the enterprise with
high-quality”, we constantly strengthen the hotel management and carried out skill training in pre-job for their
basic information and the after-job for business ability improvement. Enhance the service standards and
consciousness, as well as the sense of responsibility and quality, effectively improved the service quality and
management standards, and improving the quality of the hotel and comprehensive competitiveness.
3. Strictly curb the costs and budget management, improve internal control mechanism, reducing risks and
consumption, increase revenue and reduce expenditures, safety in production to maximize the interest of the
enterprise
During the reporting period, the Company continued to focus on financial management, improve the procurement
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
management system, strengthen management of procurement cost control and budget management, adopt
diversified means to obtain procurement price inquiry, such as network price inquiry, the hotel industry price
inquiry and other measures, obtain cost inquiry from over three suppliers to select the best one, control operating
costs in a scientific manner, strictly control various expense and expenditures, frequent inspection and repair to
prevent waste of resources, which enabled the Company to effectively improve the reasonableness of procurement
cost and cost effectiveness. Besides, human resources cost was effectively brought down due to optimized organ
establishment and personnel distribution. At the same time, the Company continued to improve the internal control
system, strengthen regulation and implementation of internal control system, strengthen the effective
implementation of internal control work, reduce risks and consumption, increase revenue and control expenditures,
emphasize production safety and improve operational efficiency, to ensure the operation safety and thus maximize
the interests of the Company as a whole.
In the second half of 2019, the Company continues to consolidate and expand sales channels, improve the hotel’s
quality and service standards, and enhance the comprehensive competitiveness, to laying out a solid foundation
for sustained, stable and healthy development of the Company.
II. Main business analysis
See the “I-Introduction” in “Discussion and Analysis of Operation”
Change of main financial data on a y-o-y basis
In RMB
Y-o-y
Same period
Current period increase/de Reasons for changes
of last year
crease
The main building of the hotel is decorating
Operation revenue 14,241,961.04 16,173,929.32 -11.94%
and renovating since May
The dining room was closed for decoration
Operation cost 5,514,477.93 6,000,063.36 -8.09% due to the decoration in main building of the
hotel
Sales expenses 2,809,991.94 2,800,956.10 0.32% Normal changes
Administrative expenses 5,071,800.21 5,356,455.21 -5.31% Wages expenses declined
Financial cost -133,732.09 17,563.19 -861.43% Increase in interest on deposits
Net cash flow arising from
1,269,416.65 3,110,677.60 -59.19% Decrease in operating income
operation activities
Net cash flow arising from More account paid for projects at same
-522,876.00 -1,040,626.12 -74.38%
investment activities period of last year
Net increase of cash and cash
746,540.65 2,070,051.48 -63.94% Decrease in operating income
equivalent
Major changes on profit composition or profit resources in reporting period
□Applicable √Not applicable
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
No changes on profit composition or profit resources in reporting period
Constitution of main business
In RMB
Increase/decrea
Increase/decrea Increase/decrea
Operating Operating Gross profit se of gross
se of operating se of operating
revenue cost ratio profit ratio
revenue y-o-y cost y-o-y
y-o-y
According to industries
Tourism catering
14,241,961.04 5,514,477.93 61.28% -11.94% -8.09% -2.58%
service
According to products
Room revenue 11,108,639.78 4,532,724.45 59.20% -12.55% -2.84% -6.43%
Catering
entertainment 1,562,368.88 744,491.70 52.35% -18.28% -32.16% 22.89%
revenue
Rental revenue 1,570,952.38 237,261.78 84.90% 0.78% 0.00% 0.14%
According to region
14,241,961.04 5,514,477.93 61.28% -11.94% -8.09% -2.58%
III. Analysis of the non-main business
√Applicable □ Not applicable
In RMB
Amount Ratio in total profit Note Whether be sustainable
Non operating
160,030.46 21.17% Clean up long-term unpaid payable No sustainable
income
IV. Assets and liability
1. Major changes of assets composition
In RMB
Current period-end Same period-end last year Ratio
Ratio in total Ratio in total change Notes of major changes
Amount Amount
assets assets s
Continuous net increase in
Monetary fund 16,110,895.95 18.43% 11,751,658.64 13.36% 5.07%
cash since last year
Account Return of the receivables
155,986.88 0.18% 266,236.51 0.30% -0.12%
receivable increased
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Inventory 191,693.57 0.22% 264,620.69 0.30% -0.08% Normal changes
Investment real
8,147,218.65 9.32% 9,621,742.21 9.80% -0.48% Depreciation amortization
estate
Fix assets 34,997,520.16 40.04% 38,017,199.39 43.22% -3.18% Depreciation
Other account
1,242,181.64 1.42% 800,136.44 0.91% 0.51% Advance payment increased
receivable
Other current
2,125,619.16 2.43% 2,195,699.54 2.50% -0.07% Normal changes
assets
Long-term
amortization 2,240,879.25 2.56% 2,678,016.88 3.04% -0.48% Amortization
expenses
2. Assets and liability measured by fair value
□ Applicable √ Not applicable
3. Assets right restriction till end of reporting period
Nil
V. Investment
1. Overall situation
√Applicable □ Not applicable
Current investment amount (RMB) Same period of last year (RMB) Changes (+,-)
1,000,000.00 1,000,000.00 0.00%
2. The major equity investment obtained in the reporting period
□ Applicable √ Not applicable
3. The major non-equity investment doing in the reporting period
□ Applicable √ Not applicable
4. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The company had no securities investment in the reporting period.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(2) Derivative investment
□ Applicable √ Not applicable
The Company has no derivatives investment in the Period
VI. Sales of major assets and equity
1. Sales of major assets
□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.
2. Sales of major equity
□ Applicable √ Not applicable
VII. Analysis of main holding company and stock-jointly companies
□ Applicable √ Not applicable
The Company had no information of main holding company and stock-jointly companies disclosed in the reporting period.
VIII. Structured vehicle controlled by the Company
□ Applicable √ Not applicable
IX. Prediction of business performance from January – September 2019
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
X. Risks and countermeasures
(1) Marco Policy risks
In order to normalize and optimize tourism market or further to promote clear-party construction, related
departments may further issue some relative policies. While these polices may cause restrain and effect on
regional tourism development. Main business income may be affected since we are engaged in tourism service.
Countermeasures: The Company will further to improve the hard and soft equipment and facilities of the hotel
while expanding the business scope, and win more market shares via high-class service and comfortable
environment so as to ensure the main business income level.
(2) Natural disaster risks
In recent years, various natural disasters take place frequently, Hainan Island belongs to oceanic climate, where
has high incidence of disastrous weather in summer. If Sanya becomes the landing place of typhoon, it may cause
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
great damages to the facilities of the Company and affect the Company’s normal operation.
Countermeasures: The Company will strengthen the construction and maintenance for infrastructure, continue to
buy property insurances, positively adopt effective prevention measures, and improve the ability of resisting
natural disasters.
(3) Risks of HR
Demand for talent in aspect of hotel sales and management are increasingly due to the constantly rise of hotel
industry, flow of hotel talented people comes more widespread and more frequent; we may face the risks of
development restrained from brain drain.
Countermeasure: we will continue to improve the talent introduction, training system, incentive mechanism,
remuneration and welfare as well as insurance mechanism, strive to attract talent, cultivate them and retain them.
Meanwhile, strengthen staff quality and skills as well as the management ability, further putting more efforts in
enterprise culture construction, enhance the cohesion in the Company, and guarantee a stable of the core managers
and skill technicians.
(4) Operational risks of main business
With the ceaseless development of global tourist industry constantly and ceaseless rising of high-class,
middle-class and low-class hotels, the tourist sources keep shunting, and the competition of tourism service
industry in Sanya becomes increasingly fierce. While the main business of the Company is just a small-scale hotel,
as the main business is single and the business scope is limited, the tourist market conditions and tourist quantity
directly make significant affects on the company performance.
Countermeasure: made a scientific management and decision-making procedures, strengthen the awareness of risk
prevention, building and improving relevant mechanism and standardized the management in the Company.
Furthermore, increase the sales ability, on base of the former sales network, continues to exploit foreign high-end
tourism market under the superior geographical location and environment for improving the occupancy rate.
Besides, we continued to develop financing channels, expanding operation projects, enrich the industrial structure
for increasing the profit increasing point.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section V. Important Events
I. In the report period, the Company held annual general meeting and extraordinary
shareholders’ general meeting
1. Annual General Meeting in the report period
Session of Ratio of investor
Type Date Date of disclosure Index of disclosure
meeting participation
The “Resolution Notice of Annual General
Annual Meeting of 2018” (No.: 2019-012) published on
AGM of
general 31.66% 2019-3-22 2019-3-23 Securities Times, Hong Kong Commercial Daily
2018
meeting and Juchao website (http://www.cninfo.com.cn)
dated 23 March 2019 respectively
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
II. Profit distribution and capitalization of capital reserves in the Period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for
the semi-annual year
III. Commitments completed in Period and those without completed till end of the Period
from actual controller, shareholders, related parties, purchaser and companies
√Applicable □ Not applicable
Type of
Commit Comm
Implement
Commitments Promise commitme Content of commitments ment itment
ation
date term
nts
On May 30, 2007, Luoniushan Co., Ltd. made The
commitments in the Company’s "Instructions original
Commitm
Luonius ents for for reform of non-tradable shares" (Revision) plans of
6
Commitments for han and "Instructions for reform of non-tradable 2017-06 material
Share month
Share Merger Reform Co., shares" (Abstract of revision) that in view of -27 assets
Merger s
Ltd Reform Dadonghai Company’s losses in successive reorganizat
years and on the verge of delisting, in order to ion was
reverse the company's business difficulties, terminated
16
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
improve profitability and recover the
continuous business capacity, Luoniushan
Co., Ltd., the controlling shareholder of
Dadonghai Company made commitments to
actively seek restructuring parties to
reorganize the assets of Dadonghai Company
at the appropriate time.
Commitments in report
of acquisition or
equity change
Commitments in assets
reorganization
Commitments make in
initial public offering or
re-financing
Equity incentive
commitment
Other commitments for
medium and small
shareholders
Completed on time
N
(Y/N)
The company’s stock has been suspended since the opening on February 15, 2017 due to the planning and
fulfillment commitments of Luoniushan. On August 13, 2017, the consideration of the 11th interim meeting
of the eighth board of directors of the company failed to approve the “Proposal on Major Asset Purchase
and Related Transaction Report (Plan) of Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.” and
other 11 proposals. On August 15, 2017, the company issued an announcement to terminate this major asset
restructuring, and the company’s stock resumed trading on August 17th. Currently, the company has no
information that should be disclosed but not disclosed.
On December 4, 2017, the board of directors and the board of supervisors of the company reviewed and
If the commitments is
approved the Proposal on the Change of Commitment Period of the First Majority Shareholder of the
not fulfilled on time,
Company. Luoniushan Co., Ltd., the company’s first majority shareholder planned for a two-year extension
shall explain the specify
for the time limit of the company’s restructuring commitment since December 27, 2017, that is, the
reason and the next
deadline for the implementation of the restructuring commitment was changed to December 26, 2019. On
work plan
December 22, 2017, the company’s fourth extraordinary shareholders’ meeting in 2017 did not approve the
proposal.
On January 31, 2018, the company received the Notice on Planning for Suspension of Major Events sent by
Luoniushan Co., Ltd., the company’s largest shareholder, to plan and prepare the major issues related to the
company. Upon application by the company, the company’s stock (stock short name: Dadonghai A,
Dadonghai B, stock code: 000613, 200613) was suspended since the opening on January 31, 2018. Upon
application by the company, the company’s stock resumed trading on February 8, 2018, and was transferred
to the major asset restructuring since the opening on February 14, 2018.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
On June 25, 2018, the company held the third interim meeting of the ninth board of directors which
reviewed and approved the Proposal on Terminating the Planning for Major Asset Restructuring. After
careful study, the board of directors of the company decided to terminate the planning for this major asset
restructuring.
IV. Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□Yes √ No
The semi-annual report of the Company had no audited.
V. Explanation from the Board and Supervisory Committee for “Qualified Opinion” from the
CPA
□ Applicable √ Not applicable
VI. Explanation on “Qualified Opinion” of previous year from the Board
□ Applicable √ Not applicable
VII. Bankruptcy reorganization
□ Applicable √ Not applicable
In reporting period, the Company has no bankruptcy reorganization occurred.
VIII. Lawsuits
Significant lawsuits and arbitration of the Company
√Applicable □ Not applicable
Whet
her Executi
to on of
Litigation Date
Amount Form Litigati
(Arbitratio of
Basic Situation of Involve an on
Litigation (Arbitration) Progress n) Trial Disc Disclosure Index
Litigation (Arbitration) d Esti (Arbitra
Results losur
(Yuan) mate tion)
and Impact e
d Judgme
Liabi nt
lity
The plaintiff, China The plaintiff, China Cinda Asset The first 2018 Announcement on
Cinda Asset Management 3,431.1 Management Co., Ltd. Hainan instance -11- Significant
No N/A
Co., Ltd. Hainan Branch, 7 Branch, sued the defendants, Hainan judgment 22; Litigation
sued the defendants, Dadonghai Tourism Centre (Holdings) dismissed 2019 (Announcement
18
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Hainan Dadonghai Co., Ltd. and Sanya Yueya Real Estate the claim -1-5; No.: 2018-061)
Tourism Centre Development Corporation, for a of the 2019 published by
(Holdings) Co., Ltd. and financial loan contract dispute, plaintiff -1-3 Securities Times,
Sanya Yueya Real Estate appealing to Hainan Dadonghai China 1; Hong Kong
Development Tourism Centre (Holdings) Co., Ltd. Cinda 2019 Commercial Daily
Corporation, for a to repay the loan of 5 million yuan Asset -4-2 and
financial loan contract and the loan interest of 29,311,700 Manageme www.cninfo.com.c
dispute, appealing to yuan temporarily calculated to April nt Co., n.
Hainan Dadonghai 30, 2018, Sanya Yueya Real Estate Ltd. Announcement on
Tourism Centre Development Corporation assumes Hainan Significant
(Holdings) Co., Ltd. to the joint and several liability, and the Branch, Litigation Progress
repay the loan of 5 two defendants bear litigation costs. In and the (Announcement
million Yuan and the loan the course of the litigation, the case No.: 2019-001)
interest of 29,311,700 plaintiff added the company as a acceptance published by
Yuan temporarily co-defendant and required the court to fee and Securities Times,
calculated to April 30, order the company to assume joint and property Hong Kong
2018, Sanya Yueya Real several liability for the above debts of preservatio Commercial Daily
Estate Development Hainan Dadonghai Tourism Centre n and
Corporation assumes the (Holdings) Co., Ltd. For the application www.cninfo.com.c
joint and several liability, above-mentioned case of principal of fee were n.
and the two defendants 5 million yuan, the verdict of Civil borne by Announcement on
bear litigation costs. In Judgment (2018) No.Q02MC76 from China Significant
the course of the the Intermediate People’s Court Sanya Cinda Litigation Progress
litigation, the plaintiff dismissed the claim of the plaintiff Asset (Announcement
added the company as a China Cinda Asset Management Co., Manageme No.: 2019-003)
co-defendant and Ltd. Hainan Branch, and the case nt Co., published by
required the court to acceptance fee and property Ltd. Securities Times,
order the company to preservation application fee were Hainan Hong Kong
assume joint and several borne by China Cinda Asset Branch. Commercial Daily
liability for the above Management Co., Ltd. Hainan The and
debts of Hainan Branch. The plaintiff Hainan Cinda judgment www.cninfo.com.c
Dadonghai Tourism refused to accept the first-instance of the first n.
Centre (Holdings) Co., judgment and appealed to the Hainan instance
Announcement on
Ltd. Higher People’s Court. On March 28, has no
Significant
2019, the verdict of Civil Judgment impact on
Litigation Progress
(2019) No.QMZ96 from Hainan the
(Announcement
Higher People’s Court dismissed the company,T
No.: 2019-013)
appeal and upheld the original he second
published by
judgment; the second-instance case instance
Securities Times,
acceptance fee was borne by Hainan upheld the
Hong Kong
Cinda; this judgment is the final first-instan
Commercial Daily
judgment. ce
and
judgment,
www.cninfo.com.c
therefore,
19
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
the lawsuit n.
had no
effect on
the
company’s
current
profit and
future
profit.
The
company
has written
Hainan Dadonghai
off the
Tourism Centre Group
borrowing
Co., Ltd. borrowed 2.76
s of the
million yuan and 4.55
case in full
million yuan from
amount in
Hainan Dadonghai Announcement on
2008. At
Tourism Centre Significant
present,
(Holdings) Co., Ltd. on Litigation
On June 3, 2019, the company the case
October 16, 1996 and (Announcement
received the "Notice of Accepting has not
December 26, 1996 No.: 2019-017)
Case" (2019) No. Q0271MC5185 been 2019
respectively. The two published by
731 No issued by the court, and the court has heard, and N/A -06-
borrowings totaled 7.31 Securities Times,
accepted the case. At present, the case the 04
million yuan and haven’t Hong Kong
has not yet been heard. company
been repaid yet. The Commercial Daily
is unable
company submitted a and
to judge
"Civil Complaint" and www.cninfo.com.c
the impact
related evidence n.
of this
materials to the Sanya
lawsuit on
Suburban People's Court
the
(hereinafter referred to as
company's
the "Court").
current
profit or
future
profit.
Other lawsuits
√Applicable □ Not applicable
Amoun Whethe Execution
Litigation Date
t r to Litigation of Discl
(Arbitration) of
Basic Situation of Litigation (Arbitration) Involv Form (Arbitration Litigation osure
Trial Results Discl
ed an ) Progress (Arbitratio Index
and Impact osure
(Yuan) Estimat n)
20
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
ed Judgment
Liabilit
y
On May 31, 2018, the Sanya Local Taxation Bureau Social
Security Fee Collection and Administration Bureau issued On July 7,
a notice of payment deadline for social insurance 2019, the
premiums to the company's South China Hotel, ordering company At present,
the company's South China Hotel to pay the unpaid social received the case has
insurance premiums and late payment fees and interest the "Notice not been
from January 1, 2012 to December 31, 2012 of totaling of heard, and
286,200.36 yuan. On May 17, 2018, the Sanya Local Accepting the company
Taxation Bureau deducted the money from the deposit of Cases" is unable to
the company's South China Hotel. According to the issued by judge the
agreement of the "Responsibility Letter of the Target 28.62 No the court, impact of N/A - -
Management of South China Hotel" signed by South and the this lawsuit
China Hotel and Sun Hongjie, Sun Hongjie should be court has on the
responsible for the social insurance premium incurred accepted company's
from May 1, 2011 to April 30, 2016. The unpaid social the case. At current
insurance premium occurred during Sun Hongjie ’ s target present, the profit or
management responsibility, and Sun Hongjie should case has future profit.
undertake the payment. So far, Sun Hongjie has not repaid not yet
the advance payment to the company's South China Hotel. been heard.
To this end, the company's South China Hotel appealed to
the court.
IX. Penalty and rectification
□ Applicable √ Not applicable
The Company has no penalty and rectification in the Period
X. Integrity of the company and its controlling shareholders and actual controllers
□ Applicable √ Not applicable
XI. Implementation of the company’s stock incentive plan, employee stock ownership plan or
other employee incentives
□ Applicable √ Not applicable
During the reporting period, the company has no stock incentive plan, employee stock ownership plan or other employee incentives
that have not been implemented.
21
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
XII. Major related transaction
1. Related transaction with routine operation concerned
√Applicable □Not applicable
Whet
Tradi
her
Relate ng Da
d over
Propo limit Availab te Inde
Type Conte transa the Clearin
Relate rtion
of nt of Pricin ction appro g form le of x of
Relati d in appro
Relate relate relate g amou for
onshi transa simila ved similar dis discl
d party d d princi nt (in ved related
p ction r
transa transa ple 10 (in 10 transact market clo osur
price transa limite
ction ction thousa ion
ctions thousa price sur e
nd d or
Yuan) nd e
not
Yuan)
(Y/N)
Same
Same as
as the
First the
Luoniu transact
majori Consu Acco transact
shan Marke Marke ion
ty mptio mmod 12.52 0.88% 0 Y ion with
Co., t price t price with
shareh n ation non-rel
Ltd. non-rel
older ated
ated
party
party
Total -- -- 12.52 -- 0 -- -- -- -- --
Detail of sales return with major amount involved N/A
Report the actual implementation of the daily related
transactions which were projected about their total amount by N/A
types during the reporting period
Reasons for major differences between trading price and market
Not applicable
reference price
2. Related transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in reporting period
3. Related transactions of mutual investment outside
□ Applicable √ Not applicable
No main related transactions of mutual investment outside for the Company in reporting period
22
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
4. Contact of related credit and debt
□ Applicable √ Not applicable
No contact of related credit or debt for the Company in the reporting period
5. Other material related transactions
□Applicable √Not applicable
The Company has no other material related transactions in the period
XIII. Non-business capital occupying by controlling shareholders and its related parties
□ Applicable √ Not applicable
No non-business capital occupied by controlling shareholders and its related parties in Period
XIV. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
The Company had no trusteeship in the reporting period.
(2) Contract
□ Applicable √ Not applicable
The Company had no contract in the reporting period.
(3) Leasing
√Applicable □ Not applicable
Note of leasing
Item Tenant Lease life Term of lease
B/F of the Hotel Ma Ming (Hainan Hangpai Food Co., Ltd.) 5 years 2016-01-01 to 2020-12-31
Shopping mall –B/F Xu Jipeng 3 years 2016-11-15 to 2019-11-14
A/F ground floor Chen Junwei 3 years 2016-03-01 to 2019-02-28
Seaside stall and wood house Sanya Leda Food Management Co., Ltd. 5 years 2018-01-01 to 2022-12-31
Seaside locker room Zhong Zhengao 3 years 2016-12-01 to 2019-11-30
Multi-functional meeting room Sanya Haolide International Travel Agency Co., Ltd. 5 years 2017-10-01 to 2022-09-30
23
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Gains/losses to the Company from projects that reached over 10% in total profit of the Company in reporting period
√Applicable □ Not applicable
Leasing The Whet
Leasin Basis
assets impact her
g for Asso
involved of be
Lease income determi ciatio
Name of Name of the Leasing in the Lease start leasing relate
terminatio (in 10 ning n
lessor leasing party assets amount date income d
n date thousa the relati
(in 10 on the trans
nd leasing on
thousand compan actio
Yuan) income
Yuan) y ns
The B/F
Ma Ming 2016-01-0 2020-12-3 Contrac
restaurant Increase
Compan (Hainan Hangpai 1,886 37.8 No N/A
in first 1 1 t income
y Food Co., Ltd.)
floor
The Sanya Leda Seaside
Food stall and 2018-01-0 2022-12-3 Contrac Increase
Compan 653 72.5 No N/A
Management wood 1 1 t income
y Co., Ltd. house
The
Seaside 2016-12-0 2019-11-3 Contrac Increase
Compan Zhong Zhengao locker 10 18 No N/A
1 0 t income
y room
Sanya Haolide Multi-fun
The
International ctional 2017-10-0 2022-09-3 Contrac Increase
Compan 190 15 No N/A
Travel Agency meeting 1 0 t income
y
Co., Ltd. room
2. Major Guarantee
□Applicable √ Not applicable
The Company had no guarantee in the reporting period.
3. Other material contracts
√Applicable □ Not applicable
The The N
Trans
book assesse a Whet The
The The actio
Date value d m The her perfo
name of name n Relev
Contr of of the value of e base Prici Relat rman Date Index
the of the price ance
act contr assets the of date ng ed ce by of of
contract contract (in relati
objec act involve assets ev eval Princ Trans the discl discl
ing ed 10 onshi
t signi d in the involve al uati iple actio end osure osure
compan compan thous p
ng contrac d in the ua on ns or of the
y y and
t(in 10 contract tio not term
yuan)
thousan (in 10 n
24
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
d yuan) thousan in
d yuan) sti
tut
io
n
Deco
Hainan The
ration
Dadong pro
Haikou proje
hai Xindec jec
heng ct of Non-
Tourism t
Constru the correl
Centre ction Mark pro
and Build 2019- N/ ative
(Holdin - - - et 890 No cee - -
Installat ing-A 05-10 A relati
gs) Co., ion price din
Engine of onshi
Ltd g
ering South p
South Co., nor
Ltd. Chin
China ma
a
Hotel lly
Hotel
Note: The contract does not constitute a major contract matter. The 4th meeting of the Ninth Board of Directors of the Company
reviewed and approved the “Proposal on the decoration and renovation of the Building A of the South China Hotel”. At the same
time, the board of directors has authorized the company to handle matters including, but not limited to, bidding for the matter and
signing of relevant contracts.
XV. Social responsibility
1. Major environmental protection
Listed company and its subsidiary belong to the key pollution enterprise listed by Department of Environmental Protection: No
2. Execution of social responsibility of targeted poverty alleviation: Nil
XVI. Explanation on other significant events
√Applicable □ Not applicable
1. The Lawyer’s Letter received by the Company: by preliminary accounting from Sanya Power Bureau, the 10313373 Kwh
electricity was understated under the name of South China Hotel from July 2006 to April 2016. The Company is communicated and
negotiates with Sanya Power Bureau in the above mentioned event without negotiation results so far.
2. The company received the Lawyer’s Letter: Main contents of the Lawyer’s Letter: the financial loan dispute between the
company’s joint stock company, Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd. (hereinafter referred to as “Dadonghai
Holdings”), and its original creditor, China Construction Bank Sanya Branch (hereinafter referred to as “CCB Sanya Branch”), its
new creditor China Cinda Asset Management Co., Ltd. Hainan Branch (hereinafter referred to as “Hainan Cinda”) currently makes
the right to recover, the two debts include: (1) the principal of 1.1 million Yuan and interest of 5,598,300 Yuan temporarily calculated
to April 30, 2018, totaling 6,698,300 Yuan, and Hainan Cinda is reported to have dropped the case. (2)the principal of 5 million Yuan
25
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
and interest of 29,311,700 Yuan temporarily calculated to April 30, 2018, totaling 34,311,700 Yuan. If Dadonghai Holdings is
incapable of handling the liquidation, Hainan Cinda will claim that the company should be jointly and severally liable for the above
debts of Dadonghai Holdings. During the reporting period, the first instance ruling rejected Hainan Cinda’s claim and the final
judgment of the second instance shall be upheld by the judgment of the first instance.
XVII. Significant event of subsidiary of the Company
□Applicable √ Not applicable
26
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section VI. Particulars about Changes in Shares and Shareholders
I. Changes in Share Capital
1. Changes in Share Capital
In Share
Increase/Decrease in the Change
Before the Change After the Change
(+, -)
B
o
n Capital S
New u ization Ot u
Proportio
Amount shares s of her bt Amount Proportion
n
issued s public s ot
h reserve al
ar
es
I. Restricted shares 10,454,400 2.87% 0 0 10,454,400 2.87%
1. State-owned shares
2. State-owned corporate
2,323,200 0.64% 0 0 2,323,200 0.64%
shares
8,131,200 2.23% 0 0 8,131,200 2.23%
3. Other domestic shares
Including: Domestic
7,900,200 2.17% 0 0 7,900,200 2.17%
legal person shares
Domestic natural person
231,000 0.06% 0 0 231,000 0.06%
shares
II. Unrestricted shares 353,645,600 97.13% 0 0 353,645,600 97.13%
265,645,600 72.96% 0 0 265,645,600 72.96%
1. RMB common shares
2.Domestically listed
88,000,000 24.17% 0 0 88,000,000 24.17%
foreign shares
III. Total shares 364,100,000 100.00% 0 0 364,100,000 100.00%
Reasons for share changed
□ Applicable √ Not applicable
Approval of share changed
□ Applicable √ Not applicable
27
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Ownership transfer of share changes
□ Applicable √ Not applicable
Implementation progress of the share repurchases
□ Applicable √ Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding
□ 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 or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
2. Changes of restricted shares
□ Applicable √ Not applicable
II. Securities issuance and listing
□ Applicable √ Not applicable
III. Amount of shareholders of the Company and particulars about shares holding
In Share
Total common stock
Total preference shareholders with voting rights recovered at end of
shareholders in reporting 36,595 0
reporting period
period-end
Particulars about common shares held above 5% by shareholders or top ten common shareholders
Number of
share
Number of Amount pledged/fr
Proporti common Changes of Amount of ozen
Nature of on of
Full name of Shareholders shares held in report restricted un-restricted A
shareholder shares
held at period shares shares held State m
period-end held of o
share u
nt
6
Domestic non 3,
Pled
Luoniushan Co., Ltd. state-owned 17.55% 63,885,980 0 0 63,885,980 8
ged
corporate 8
5,
28
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
9
8
0
Domestic nature
Yang Meiqin 4.47% 16,279,028 0 0 16,279,028
person
Domestic nature
Pan Anjie 4.01% 14,593,598 0 0 14,593,598
person
Domestic non
Hainan Ya’an Residence Property
state-owned 2.25% 8,205,800 0 0 8,205,800
Service Co., Ltd.
corporate
Domestic nature
Chen Jinlian 2.13% 7,766,400 0 0 7,766,400
person
HGNH International Asset
Management Co., Ltd – Foreign corporate 1.23% 4,495,902 0 0 4,495,902
customer deposit
Domestic nature
Pan Aiping 1.13% 4,110,738 0 0 4,110,738
person
China Investment Securities
(HK) Co., Ld. – customer Foreign corporate 0.99% 3,622,300 0 0 3,622,300
deposit
Domestic nature
Zhang Fengxiu 0.90% 3,291,372 -610000 0 3,291,372
person
Shenwan Hongyuan Securities
Foreign corporate 0.84% 3,056,390 0 0 3,056,390
(Hong Kong) Co., Ltd.
Strategy investors or general legal person becomes top
N/A
10 common shareholders due to rights issued
Among the above shareholders, Hainan Ya’an Residence Property Service Co.,
Ltd. is the wholly-owned subsidiary of Luoniushan Co., Ltd; Yang Meiqin, Pan
Anjie, Chen Jinlian and Pan Aiping are the persons acting in concert; the
Explanation on associated relationship or accordant
Company is unknown whether there exists associated relationship or belongs to
action among the aforesaid shareholders
the consistent actor regulated by the Management Measure of Information
Disclosure on Change of Shareholding for Listed Company among the other
shareholders.
Particular about top ten shareholders with un-restrict common shares held
Amount of Type of shares
un-restrict
Shareholders’ name common shares
Type Amount
held at
Period-end
Luoniushan Co., Ltd. 63,885,980 RMB common share 63,885,980
29
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
16,279,0 Domestically listed foreign
Yang Meiqin 16,279,028
28 share
14,593,5 Domestically listed foreign
Pan Anjie 14,593,598
98 share
8,205,80
Hainan Ya’an Residence Property Service Co., Ltd. RMB common share 8,205,800
0
7,766,40 Domestically listed foreign
Chen Jinlian 7,766,400
0 share
HGNH International Asset Management Co., Ltd – 4,495,90
RMB common share 4,495,902
customer deposit 2
4,110,73 Domestically listed foreign
Pan Aiping 4,110,738
8 share
China Investment Securities (HK) Co., Ld. – customer 3,622,30
RMB common share 3,622,300
deposit 0
3,291,37
Zhang Fengxiu RMB common share 3,291,372
2
3,056,39 Domestically listed foreign
Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. 3,056,390
0 share
Among the above shareholders, Hainan Ya’an Residence Property Service Co.,
Expiation on associated relationship or consistent Ltd. is the wholly-owned subsidiary of Luoniushan Co., Ltd. Yang Meiqin, Pan
actors within the top 10 un-restrict common stock Anjie, Chen Jinlian and Pan Aiping are the persons acting in concert; the
shareholders and between top 10 un-restrict common Company is unknown whether there exists associated relationship or belongs to
stock shareholders and top 10 common stock the consistent actor regulated by the Management Measure of Information
shareholders Disclosure on Change of Shareholding for Listed Company among the other
shareholders.
Explanation on shareholders involving margin
business about top ten common stock shareholders N/A
with un-restrict shares held
Whether top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held of the Company have no
buy-back agreement dealing in reporting period.
IV. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of controlling shareholders had no change in reporting period.
Changes of actual controller in reporting period
30
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
31
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the Period.
32
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section VIII. Particulars about Directors, Supervisors, Senior
Executives and Employees
I. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
No change of shares held by directors, supervisors and senior executives, found more details in Annual Report 2018.
II. Changes of directors, supervisors and senior executives
□ Applicable √ Not applicable
No changes of directors, supervisors and senior executives, found more details in Annual Report 2018.
33
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section IX. Corporate Bond
Whether the Company has a corporation bonds that issuance publicly and listed on stock exchange and without due on the date when
semi-annual report approved for released or fail to cash in full on due
No
34
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section X. Financial Report
I. Audit report
Whether the semi annual report is audited
□ Yes √ No
The company's semi annual financial report has not been audited.
II. Financial Statement
Expressed in Renminbi unless otherwise stated
1. Balance sheet
Prepared by HAINAN DADONGHAI Tourism Centre (HOLDINGS) CO., LTD.
In RMB
Item 2019-6-30 2018-12-31
Current assets:
Monetary funds 16,110,895.95 15,364,355.30
Settlement provisions
Capital lent
Transactional financial assets
Financial assets measured by fair value and with variation reckoned into
current gains/losses
Derivative financial assets
Note receivable
Account receivable 155,986.88 426,434.87
Receivable financing
Accounts paid in advance 396,882.60
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Other account receivable 1,242,181.64 458,242.73
Including: Interest receivable
Dividend receivable
Buying back the sale of financial assets
35
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Inventories 191,693.57 221,390.19
Contractual assets
Assets held for sale
Non-current asset due within one year
Other current assets 2,125,619.16 1,846,219.79
Total current assets 20,223,259.80 18,316,642.88
Non-current assets:
Loans and payments on behalf
Debt investment
Finance asset available for sales
Other debt investment
Held-to-maturity investment
Long-term account receivable
Long-term equity investment
Investment in other equity instrument
Other non-current financial assets
Investment real estate 8,147,218.65 8,384,480.43
Fixed assets 34,997,520.16 36,497,869.65
Construction in progress
Productive biological asset
Oil and gas asset
Right-of-use assets
Intangible assets 21,799,055.46 22,205,249.04
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned 2,240,879.25 2,792,876.07
Deferred income tax asset
Other non-current asset
Total non-current asset 67,184,673.52 69,880,475.19
Total assets 87,407,933.32 88,197,118.07
Current liabilities:
Short-term loans
Loan from central bank
Capital borrowed
36
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Transactional financial liability
Financial liability measured by fair value and with variation reckoned into
current gains/losses
Derivative financial liability
Note payable
Account payable 1,077,017.43 1,607,835.81
Accounts received in advance 779,681.12 1,291,293.05
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable 1,827,967.06 2,841,262.35
Taxes payable 745,943.66 450,861.87
Other account payable 2,942,968.71 2,727,483.66
Including: Interest payable
Dividend payable
Commission charge and commission payable
Reinsurance payable
Contractual liability
Liability held for sale
Non-current liabilities due within one year
Other current liabilities
Total current liabilities 7,373,577.98 8,918,736.74
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long-term wages payable
Accrual liability 1,489,685.04 1,489,685.04
Deferred income
Deferred income tax liabilities
37
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Other non-current liabilities
Total non-current liabilities 1,489,685.04 1,489,685.04
Total liabilities 8,863,263.02 10,408,421.78
Owner’s equity:
Share capital 364,100,000.00 364,100,000.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve 54,142,850.01 54,142,850.01
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve
Provision of general risk
Retained profit -339,698,179.71 -340,454,153.72
Total owner’ s equity attributable to parent company 78,544,670.30 77,788,696.29
Minority interests
Total owner’ s equity 78,544,670.30 77,788,696.29
Total liabilities and owner’ s equity 87,407,933.32 88,197,118.07
Legal Representative: Yuan Xiaoping Accounting Principal:Fu Zongren
Accounting Firm’s Principal: Fu Zongren
2. Balance sheet of parent company
In RMB
Item 2019-6-30 2018-12-31
Current assets:
Monetary funds 15,610,097.59 14,864,055.73
Transactional financial assets
Financial assets measured by fair value and with variation reckoned into
current gains/losses
Derivative financial assets
Note receivable
Account receivable 155,986.88 426,434.87
38
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Receivable financing
Accounts paid in advance 396,882.60
Other account receivable 1,242,181.64 458,242.73
Including: Interest receivable
Dividend receivable
Inventories 191,693.57 221,390.19
Contractual assets
Assets held for sale
Non-current assets maturing within one year
Other current assets 2,125,619.16 1,846,219.79
Total current assets 19,722,461.44 17,816,343.31
Non-current assets:
Debt investment
Available-for-sale financial assets
Other debt investment
Held-to-maturity investments
Long-term receivables
Long-term equity investments 1,000,000.00 1,000,000.00
Investment in other equity instrument
Other non-current financial assets
Investment real estate 8,147,218.65 8,384,480.43
Fixed assets 34,997,520.16 36,497,869.65
Construction in progress
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 21,799,055.46 22,205,249.04
Research and development costs
Goodwill
Long-term deferred expenses 2,240,879.25 2,792,876.07
Deferred income tax assets
Other non-current assets
Total non-current assets 68,184,673.52 70,880,475.19
Total assets 87,907,134.96 88,696,818.50
39
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Current liabilities
Short-term borrowings
Transactional financial liability
Financial liability measured by fair value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes payable
Account payable 1,077,017.43 1,607,835.81
Accounts received in advance 779,681.12 1,291,293.05
Contractual liability
Wage payable 1,827,967.06 2,841,262.35
Taxes payable 745,943.66 450,861.87
Other accounts payable 3,442,669.14 3,226,952.36
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due within one year
Other current liabilities
Total current liabilities 7,873,278.41 9,418,205.44
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long term employee compensation payable
Accrued liabilities 1,489,685.04 1,489,685.04
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 1,489,685.04 1,489,685.04
Total liabilities 9,362,963.45 10,907,890.48
Owners’ equity:
40
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Share capital 364,100,000.00 364,100,000.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 54,142,850.01 54,142,850.01
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve
Retained profit -339,698,678.50 -340,453,921.99
Total owner’s equity 78,544,171.51 77,788,928.02
Total liabilities and owner’s equity 87,907,134.96 88,696,818.50
3. Consolidated profit statement
In RMB
Semi-annual of
Item Semi-annual of 2018
2019
I. Total operating income 14,241,961.04 16,173,929.32
Including: Operating income 14,241,961.04 16,173,929.32
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 13,646,017.49 14,891,558.76
Including: Operating cost 5,514,477.93 6,000,063.36
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras 383,479.50 716,520.90
Sales expense 2,809,991.94 2,800,956.10
Administrative expense 5,071,800.21 5,356,455.21
41
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
R&D expense
Financial expense -133,732.09 17,563.19
Including: Interest expenses
Interest income 152,697.12 22,729.87
Add: other income
Investment income (Loss is listed with “-”)
Including: Investment income on affiliated company and joint venture
The termination of income recognition for financial assets
measured by amortized cost(Loss is listed with “-”)
Exchange income (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Income from change of fair value (Loss is listed with “-”)
Loss of credit impairment (Loss is listed with “-”)
Losses of devaluation of asset (Loss is listed with “-”)
Income from assets disposal (Loss is listed with “-”)
III. Operating profit (Loss is listed with “-”) 595,943.55 1,282,370.56
Add: Non-operating income 160,030.46 273.00
Less: Non-operating expense 477.98
IV. Total profit (Loss is listed with “-”) 755,974.01 1,282,165.58
Less: Income tax expense
V. Net profit (Net loss is listed with “-”) 755,974.01 1,282,165.58
(i) Classify by business continuity
1.continuous operating net profit (net loss listed with ‘-”) 755,974.01 1,282,165.58
2.termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s of parent company 755,974.01 1,282,165.58
2.Minority shareholders’ gains and losses
VI. Net after-tax of other comprehensive income
Net after-tax of other comprehensive income attributable to owners of parent
company
(I) Other comprehensive income items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured
2.Other comprehensive income under equity method that cannot be
transfer to gain/loss
42
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
3.Change of fair value of investment in other equity instrument
4.Fair value change of enterprise's credit risk
5. Other
(ii) Other comprehensive income items which will be reclassified
subsequently to profit or loss
1.Other comprehensive income under equity method that can transfer
to gain/loss
2.Change of fair value of other debt investment
3.gain/loss of fair value changes for available-for-sale financial assets
4.Amount of financial assets re-classify to other comprehensive
income
5.Gain/loss of held-to-maturity investments that re-classify to
available-for-sale financial asset
6.Credit impairment provision for other debt investment
7.Cash flow hedging reserve
8.Translation differences arising on translation of foreign currency
financial statements
9.Other
Net after-tax of other comprehensive income attributable to minority
shareholders
VII. Total comprehensive income 755,974.01 1,282,165.58
Total comprehensive income attributable to owners of parent Company 755,974.01 1,282,165.58
Total comprehensive income attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0021 0.0035
(ii) Diluted earnings per share 0.0021 0.0035
As for the enterprise combination under the same control, the net profit achieved by the combined party before consolidation was 0
Yuan in the period while 0 Yuan achieved last period
Legal Representative: Yuan Xiaoping Accounting Principal:Fu Zongren
Accounting Firm’s Principal: Fu Zongren
4. Profit statement of parent Company
In RMB
Semi-annual of Semi-annual of
Item
2019 2018
43
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
I. Operating income 14,241,961.04 16,173,929.32
Less: Operating cost 13,645,516.28 14,891,558.76
Taxes and surcharge 383,479.50 716,520.90
Sales expenses 2,809,991.94 2,800,956.10
Administration expenses 5,071,800.21 5,356,455.21
R&D expenses
Financial expenses -133,233.30 17,563.19
Including: interest expenses
Interest income 151,938.33 22,729.87
Add: other income
Investment income (Loss is listed with “-”)
Including: Investment income on affiliated Company and joint venture
The termination of income recognition for financial assets
measured by amortized cost (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Changing income of fair value (Loss is listed with “-”)
Loss of credit impairment (Loss is listed with “-”)
Losses of devaluation of asset (Loss is listed with “-”)
Income on disposal of assets (Loss is listed with “-”)
II. Operating profit (Loss is listed with “-”) 595,444.76 1,282,370.56
Add: Non-operating income 160,030.46 273.00
Less: Non-operating expense 477.98
III. Total Profit (Loss is listed with “-”) 755,475.22 1,282,165.58
Less: Income tax
IV. Net profit (Net loss is listed with “-”) 755,475.22 1,282,165.58
(i)continuous operating net profit (net loss listed with ‘-”) 755,475.22 1,282,165.58
(ii) termination of net profit (net loss listed with ‘-”)
V. Net after-tax of other comprehensive income
(I) Other comprehensive income items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured
2.Other comprehensive income under equity method that cannot be
transfer to gain/loss
3.Change of fair value of investment in other equity instrument
4.Fair value change of enterprise's credit risk
44
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
5. Other
(II) Other comprehensive income items which will be reclassified
subsequently to profit or loss
1.Other comprehensive income under equity method that can transfer
to gain/loss
2.Change of fair value of other debt investment
3.gain/loss of fair value changes for available-for-sale financial assets
4.Amount of financial assets re-classify to other comprehensive
income
5.Gain/loss of held-to-maturity investments that re-classify to
available-for-sale financial asset
6.Credit impairment provision for other debt investment
7.Cash flow hedging reserve
8.Translation differences arising on translation of foreign currency
financial statements
9.Other
VI. Total comprehensive income 755,475.22 1,282,165.58
VII. Earnings per share:
(i) Basic earnings per share 0.0021 0.0035
(ii) Diluted earnings per share 0.0021 0.0035
5. Consolidated cash flow statement
In RMB
Semi-annual of Semi-annual of
Item
2019 2018
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 14,988,120.25 17,460,137.72
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
Cash received from interest, commission charge and commission
Net increase of capital borrowed
45
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Net increase of returned business capital
Net cash received by agents in sale and purchase of securities
Write-back of tax received
Other cash received concerning operating activities 1,105,441.88 684,152.64
Subtotal of cash inflow arising from operating activities 16,093,562.13 18,144,290.36
Cash paid for purchasing commodities and receiving labor service 4,468,726.47 5,026,699.13
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Net increase of financial assets held for transaction purposes
Net increase of capital lent
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 6,921,639.62 6,741,602.32
Taxes paid 1,139,283.59 1,590,739.15
Other cash paid concerning operating activities 2,294,495.80 1,674,572.16
Subtotal of cash outflow arising from operating activities 14,824,145.48 15,033,612.76
Net cash flows arising from operating activities 1,269,416.65 3,110,677.60
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 and other long-term assets 68,670.00
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 68,670.00
Cash paid for purchasing fixed, intangible and other long-term assets 591,546.00 1,040,626.12
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 591,546.00 1,040,626.12
Net cash flows arising from investing activities -522,876.00 -1,040,626.12
III. Cash flows arising from financing activities
Cash received from absorbing investment
46
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
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
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 746,540.65 2,070,051.48
Add: Balance of cash and cash equivalents at the period -begin 15,364,355.30 9,681,607.16
VI. Balance of cash and cash equivalents at the period -end 16,110,895.95 11,751,658.64
6. Cash flow statement of parent Company
In RMB
Semi-annual of Semi-annual of
Item
2019 2018
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 14,988,120.25 17,460,137.72
Write-back of tax received
Other cash received concerning operating activities 1,104,683.09 684,152.64
Subtotal of cash inflow arising from operating activities 16,092,803.34 18,144,290.36
Cash paid for purchasing commodities and receiving labor service 4,468,726.47 5,026,699.13
Cash paid to/for staff and workers 6,921,639.62 6,741,602.32
Taxes paid 1,139,261.99 1,590,739.15
Other cash paid concerning operating activities 2,294,257.40 1,674,572.16
Subtotal of cash outflow arising from operating activities 14,823,885.48 15,033,612.76
Net cash flows arising from operating activities 1,268,917.86 3,110,677.60
II. Cash flows arising from investing activities:
Cash received from recovering investment
47
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Cash received from investment income
Net cash received from disposal of fixed, intangible and other long-term assets 68,670.00
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 68,670.00
Cash paid for purchasing fixed, intangible and other long-term assets 591,546.00 1,040,626.12
Cash paid for investment 1,000,000.00
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 591,546.00 2,040,626.12
Net cash flows arising from investing activities -522,876.00 -2,040,626.12
III. Cash flows arising from financing activities
Cash received from absorbing investment
Cash received from loans
Cash received from issuing bonds
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities
Cash paid for settling debts
Cash paid for dividend and profit distributing or interest paying
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 746,041.86 1,070,051.48
Add: Balance of cash and cash equivalents at the period -begin 14,864,055.73 9,681,607.16
VI. Balance of cash and cash equivalents at the period -end 15,610,097.59 10,751,658.64
7. Consolidate change of owners’ equity
Current period
In RMB
Semi-annual of 2019
Minority Total owners’
Owners’ equity attributable to the parent Company
Item interests equity
Other o
Capital L O R S P
Share capital equity Retained profit t Subtotal
reserve e t e u r
instru h
48
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
ment s h a r o e
P s e s p v r
e : r o l i
r n u s
p I c a s i
e n o b o
t v m l r n
u e p e e
P
a n r s o
r
l t e r e f
e
o h e r
f
c r e s v g
e
a y n e e e
r
p O s r n
r
i t s i v e
e
t h h v e r
d
a e a e a
l r r l
s
e i
t
s s n r
o
e c i
c
c o s
k
u m k
r e
i
t
i
e
s
I. Balance at the end of
364,100,000.00 54,142,850.01 -340,454,153.72 77,788,696.29 77,788,696.29
the last year
Add: Changes of
accounting policy
Error
correction of the last
period
Enterprise
combine under the
same control
Other
II. Balance at the
364,100,000.00 54,142,850.01 -340,454,153.72 77,788,696.29 77,788,696.29
beginning of this year
III. Increase/ Decrease in
this year (Decrease is 755,974.01 755,974.01 755,974.01
listed with “-”)
(i) Total comprehensive
755,974.01 755,974.01 755,974.01
income
(ii) Owners’ devoted
and decreased capital
1.Common shares
invested by shareholders
49
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
2. Capital invested by
holders of other equity
instruments
3. Amount reckoned into
owners equity with
share-based payment
4. Other
(III) Profit distribution
1. Withdrawal of surplus
reserves
2. Withdrawal of general
risk provisions
3. Distribution for
owners (or shareholders)
4. Other
(IV) 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 Carry-over retained
．
earnings from the
defined benefit plans
5 Carry-over retained
．
earnings from other
comprehensive income
6. Other
(V) Reasonable reserve
1. Withdrawal in the
report period
2. Usage in the report
period
(VI)Others
IV. Balance at the end of
364,100,000.00 54,142,850.01 -339,698,179.71 78,544,670.30 78,544,670.30
the report period
Last Period
In RMB
Semi-annual of 2018
M
in
or
Item Total owners’
Owners’ equity attributable to the parent Company it
equity
y
in
te
50
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
re
st
s
Other
equity
instru
O
ment
t P
P
h r
e L
e o
r e
r R v
p s
e i
e s
c a S s
t :
o s u i
P u
m o r o
r a I
p n p n
e l n
r a l
f v
e b u o o
e c e
h l s f t
r a O Capital public n
Share capital e e Retained profit h Subtotal
r p t reserve t
n r g e
e i h o r
s r e e
d t e r
i e s n
a r y
v s e e
s l
e e r r
t s
r v a
o s h
i v e l
c e a
n e
k c r
c r
u e
o i
r s
m s
i
e k
t
i
e
s
I. Balance at the end
364,100,000.00 54,142,850.01 -341,107,435.91 77,135,414.10 77,135,414.10
of the last year
Add: Changes of
accounting policy
Error
correction of the last
period
Enterprise
combine under the
same control
Other
II. Balance at the
364,100,000.00 54,142,850.01 -341,107,435.91 77,135,414.10 77,135,414.10
beginning of this year
III. Increase/ Decrease
in this year (Decrease 1,282,165.58 1,282,165.58 1,282,165.58
is listed with “-”)
51
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(i) Total
comprehensive 1,282,165.58 1,282,165.58 1,282,165.58
income
(ii) Owners’ devoted
and decreased capital
1.Common shares
invested by
shareholders
2. Capital invested by
holders of other equity
instruments
3. Amount reckoned
into owners equity
with share-based
payment
4. Other
(III) Profit distribution
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk provisions
3. Distribution for
owners (or
shareholders)
4. Other
(IV) 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 Carry-over retained
．
earnings from the
defined benefit plans
5 Carry-over retained
．
earnings from other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal in the
report period
2. Usage in the report
period
(VI)Others
IV. Balance at the end 364,100,000.00 54,142,850.01 -339,825,270.33 78,417,579.68 78,417,579.68
52
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
of the report period
8. Change of owners’ equity of parent company
Current period
In RMB
Semi-annual of 2019
Other
equity
instru
O
ment
t
P
h
e L
e
r e
r R
p s
e
e s
c a S
t :
o s u
P u
m o r
r a I
p n p
e l n
r a l
f v
e b u O
e c e
h l s t
Item r a O Capital public n Total owners’
Share capital e e Retained profit h
r p t reserve t equity
n r e
e i h o r
s r e
d t e r
i e s
a r y
v s e
s l
e e r
t s
r v
o s h
i v e
c e a
n e
k c r
c
u e
o
r s
m
i
e
t
i
e
s
I. Balance at the end of the last year 364,100,000.00 54,142,850.01 -340,454,153.72 77,788,696.29
Add: Changes of accounting policy
Error correction of the last period
Other
II. Balance at the beginning of this year 364,100,000.00 54,142,850.01 -340,454,153.72 77,788,696.29
III. Increase/ Decrease in this year (Decrease is
755,475.22 755,475.22
listed with “-”)
(i) Total comprehensive income 755,475.22 755,475.22
(ii) Owners’ devoted and decreased capital
1.Common shares invested by shareholders
2. Capital invested by holders of other equity
instruments
53
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
3. Amount reckoned into owners equity with
share-based payment
4. Other
(III) Profit distribution
1. Withdrawal of surplus reserves
2. Distribution for owners (or shareholders)
3. Other
(IV) 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 Carry-over retained earnings from the defined
．
benefit plans
5 Carry-over retained earnings from other
．
comprehensive income
6. Other
(V) Reasonable reserve
1. Withdrawal in the report period
2. Usage in the report period
(VI)Others
IV. Balance at the end of the report period 364,100,000.00 54,142,850.01 -339,698,678.50 78,544,171.51
Last period
In RMB
Semi-annual of 2018
Other O
equity L t
instru e h
R
ment s e
e
P s r
a S
e :
s u
P r c
o r
r p I o
n p
e e n m
a l
f t v p
b u O
e u e r
l s t
Item r a Capital n e Provision of Total owners’
Share capital O e h
r l reserve t h general risk equity
t r e
e o e r
h r e
d c r n
e e s
a y s
r s e
s p i
e r
t i s v
r v
o t h e
v e
c a a
e
k l r i
e n
s s c
e o
54
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
c m
u e
r
i
t
i
e
s
I. Balance at the end of the last year 364,100,000.00 54,142,850.01 -341,107,435.91 77,135,414.10
Add: Changes of accounting policy
Error correction of the last period
Other
II. Balance at the beginning of this year 364,100,000.00 54,142,850.01 -341,107,435.91 77,135,414.10
III. Increase/ Decrease in this year (Decrease is
1,282,165.58 1,282,165.58
listed with “-”)
(i) Total comprehensive income 1,282,165.58 1,282,165.58
(ii) Owners’ devoted and decreased capital
1.Common shares invested by shareholders
2. Capital invested by holders of other equity
instruments
3. Amount reckoned into owners equity with
share-based payment
4. Other
(III) Profit distribution
1. Withdrawal of surplus reserves
2. Distribution for owners (or shareholders)
3. Other
(IV) 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 Carry-over retained earnings from the defined
．
benefit plans
5 Carry-over retained earnings from other
．
comprehensive income
6. Other
(V) Reasonable reserve
1. Withdrawal in the report period
2. Usage in the report period
(VI)Others
IV. Balance at the end of the report period 364,100,000.00 54,142,850.01 -339,825,270.33 78,417,579.68
III. Company profile
1. Overview
55
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd. (hereinafter referred to as the "Company") is a
standardized company limited by shares established on April 26, 1993 and restructured from Hainan Sanya
Dadonghai Tourism Centre Development Co., Ltd. with the approval of Hainan Shareholding System Pilot Group
office via its Document Qiong Gu Ban Zi [1993] No.11. On May 6, 1996, the Company was reorganized and
separated with the reply of Hainan Securities Management Office by its Document Qiong Zheng Ban [1996]
No.58. On October 8, 1996 and January 28, 1997, the Company was approved to respectively issue 80 million B
shares and 14 million A shares on Shenzhen Stock Exchange and list for sales. On June 20, 2007, the Company
carried out the split share structure reform. The non-tradable shareholders of the Company paid shares to the
tradable shareholders for obtaining the circulation rights, and the tradable shareholders got 3 shares for every 10
shares. The Company belongs to tourism and catering service industry.
As at June 30, 2019, the Company's accumulative total issued capital was 364.1 million shares and the
Company's registered capital was RMB 364.1 million. Legal representative: Yuan Xiaoping. Unified social
credit code: 91460000201357188U. Domicile: Dadonghai, Hedong District, Sanya. Business scope:
Accommodation and catering industry (limited to branches); photography; flower bonsai, knitwear, general
merchandise, hardware and electrical equipment, chemical products (except franchised operations), daily
necessities, industrial means of production (except franchised operations), metal materials, machinery
equipment; sales of train, bus and vehicle tickets on an agent basis, etc. The Company's largest shareholder is
Luoniushan Co., Ltd.
The financial statements were approved by all directors of the Company for disclosure on August 8, 2019.
2. Scope to the consolidated financial statements
Scope of the consolidated financial statement for the period has no changes and as at 30 June 2019, the
subsidiary included into the Company's scope of consolidated financial statements is as follows:
Name Relationship with the Company
Hainan Wengao Tourist Resources Development Co., Ltd. A wholly-owned subsidiary
IV. Basic for the preparation of the financial statements
1. Preparation basis
Based on going concern and according to actually occurred transactions and events, the Company prepared
financial statements in accordance with the Accounting Standards for Business Enterprises — Basic
Standards and the specific accounting standards, the Accounting Standards for Business Enterprises -
Application Guidance, the Accounting Standards for Business Enterprises - Interpretation and other relevant
provisions, issued by the Ministry of Finance, (hereinafter referred to collectively as the "Accounting
Standards for Business Enterprises"), as well as the disclosure provisions of the Rules for the Compilation
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
and Submission of Information Disclosure by Companies Offering Securities to the Public No.15 - General
Requirements for Financial Reports (Revised in 2014).
2. Going concern
The Company currently has sufficient working capital and normal operating conditions. It is estimated that
the operating activities of the Company will still continue in the next 12 months.
V. Significant accounting policies and accounting estimates
Specific accounting policies and estimation attention:
The main accounting policies and accounting estimates of the Company had no change.
1. Statement on compliance with the Accounting Standards for Business Enterprises
The financial statements prepared by the Company comply with the requirements of the Accounting Standards for Business
Enterprises, and truly and completely present the financial position, operating results, cash flows of the Company and other related
information.
2. Accounting period
The accounting year is from January 1 to December 31 in calendar year.
3. Operating cycle
The Company's operating cycle is 12 months.
4. Reporting currency
The Company adopts RMB as its reporting currency.
5. Accounting Treatment Method for Business Combinations (under the same/different control)
Business combination under common control: The assets and liabilities acquired by the Company in business
combinations are measured at book values of assets and liabilities of the combinee (including the goodwill
arising from the acquisition of the combinee by the ultimate controller) in the consolidated financial
statements of the ultimate controller on the combination date. The stock premium in the capital reserves is
adjusted according to the difference between the book value of the net assets acquired in business
combination and the book value of the consideration paid for the combination (or total par value of shares
issued). If there is no sufficient stock premium in the capital reserves for write-downs, the retained earnings
shall be adjusted.
Business combination not under common control: The Company shall, on the acquisition date, measure the
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
assets surrendered and liabilities incurred or assumed by the Company for a business combination at their
fair values. The difference between the fair value and their book value shall be included in the current profit
or loss. The Company shall recognize the difference of the combination costs in excess of the fair value of
the identifiable net assets acquired from the acquiree as goodwill. The Company shall recognize the
difference of the combination costs in short of the fair value of the identifiable net assets acquired from the
acquiree in the current profit or loss after review.
The auditing, legal services, consulting and other intermediary service fees as well as other relevant direct
expenses for business combination will be included in the current profit or loss at occurrence; the transaction
costs for the issue of equity securities shall be used to write down equities.
6. Preparation methods of consolidated financial statements
1)Scope of consolidation
The scope of consolidated financial statements of the Company is determined on the basis of control, and all
its subsidiaries (including the investee's partible part that is under control of the Company) shall be included
in the consolidated financial statements.
2)Procedures of consolidation
The Company prepares the consolidated financial statements based on financial statements of itself and its
subsidiaries and according to other relevant information. Upon preparation of consolidated financial
statements, the Company shall deem the whole group as a whole accounting entity, and reflects the overall
financial position, operating results and cash flows of the group in accordance with relevant requirements for
recognition, measurement and presentation as stated in the Accounting Standards for Business Enterprises as
well as uniform accounting policies.
All the subsidiaries within the consolidation scope of consolidated financial statements shall adopt the same
accounting policies and accounting periods as those of the Company. If the accounting policies or accounting
periods of a subsidiary are different from those of the Company, the consolidated financial statements of the
subsidiary, upon preparation of consolidated financial statements, shall be adjusted according to the
accounting policies and accounting periods of the Company. For the subsidiaries acquired through business
combination not under the same control, adjustments to their financial statements shall be made based on the
fair values of net identifiable assets on the acquisition date. For a subsidiary acquired through business
combination under common control, adjustment to its financial statements shall be made based on the book
values of its assets and liabilities (including goodwill formed in the acquisition of the subsidiary by its
ultimate controller) as presented in the financial statements of the ultimate controller.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
The share of owners' equity, current net profits and losses, and current comprehensive income of subsidiaries
attributable to minority owners shall be respectively and separately listed under the owner's equity item of a
consolidated balance sheet, the net profit item of a consolidated income statement, and the total
comprehensive income in a consolidated income statement. Where the current losses shared by a minority
shareholder of a subsidiary exceeds the balances arising from the shares enjoyed by the minority shareholder
in the owners' equity of the subsidiary at the beginning of the period, minority equity shall be written down
accordingly.
(1) Increase of subsidiaries or business
During the reporting period, if the Company acquired subsidiaries or business from the business combination
under common control, the beginning balance in the consolidated statement of financial position shall be
adjusted; the revenue, expenses and profits of the newly acquired subsidiaries or business from the beginning
to the end of the reporting period shall be included into the consolidated income statement; the cash flows of
the newly acquired subsidiaries or business from the beginning to the end of the reporting period shall be
included in the consolidated statement of cash flow. Relevant items in the comparative financial statements
of the subsidiaries shall be adjusted accordingly, as if the reporting entity after the business combination
exists at the time when the ultimate controller has the control power.
Where control can be exercised on the investee under the common control for additional investment or other
reasons, adjustment will be made as if all parties involved in the combination exist at the beginning of the
control by the ultimate controller. Equity investments held before the control over the combined party is
obtained, the related gains and losses, other comprehensive income as well as other changes in net assets
recognized from the later of the date when the original equity is obtained or the date when the acquirer and
the acquiree are under the same control, to the combination date will respectively write down the retained
earnings or current profit or loss in the comparative statements.
During the reporting period, if the Company increased subsidiaries or business from business combinations
not under common control, the beginning balance in the consolidated balance sheet shall not be adjusted; the
revenue, expenses and profits of the subsidiaries or business from the acquisition date to the end of the
reporting period shall be included in the consolidated income statement; cash flows of the subsidiaries and
business from the acquisition date to the end of the reporting period shall be included in the consolidated
statement of cash flows.
Where the Company can control the investee not under common control from additional investments, it shall
re-measure equity of the acquiree held before the acquisition date at the fair value of such equity on the
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
acquisition date and include the difference of the fair value and book value in the investment income in the
year. Where equity of the acquiree held before the acquisition date involves in other comprehensive income
accounted for under equity method and other changes in owners' equity other than net profits or losses, other
comprehensive income and profit distribution, the relevant other comprehensive income and other changes in
owners' equity shall be transferred to investment income in the year which the acquisition date falls in,
except for other comprehensive income from changes arising from re-measurement of net liabilities or net
assets of defined benefit plan by the investee.
(2) Disposal of subsidiaries or business
① General method of treatment
During the reporting period, where the Company disposes of any subsidiary or business, the revenues, expenses
and profits of the subsidiary or business from the beginning period to the disposal date shall be included in the
consolidated income statement; cash flows of the subsidiary or business from the beginning period to the disposal
date shall be included in the consolidated statement of cash flows.
When the Company loses the control over the investee due to disposal of partial equity investment or other
reasons, the remaining equity investment after the disposal will be re-measured by the Company at its fair value
on the date of loss of the control. The difference of the sum of the consideration acquired from disposal of equities
and the fair value of the remaining equities less the sum of the share calculated at the original shareholding ratio in
net assets of the original subsidiary which are continuously calculated as of the acquisition date or the
combination date and goodwill shall be included in the investment income of the period in which the control is
lost. Other comprehensive incomes associated with the equity investments of the original subsidiary, or the
changes in owners' equity other than net profit or loss, other comprehensive income and profit distribution, are
transferred into investment income of the period when the control is lost, except for other comprehensive income
from the change in net liability or net asset due to the investor's re-measurement of defined benefit plan.
Where the Company loses the control of any subsidiary due to the decline in its shareholding ratio in the
subsidiary, caused by the increase of investment in the subsidiary by other investors, the accounting treatment
shall be conducted according to the above principles.
② Disposal of subsidiaries by stages
If the control is lost due to disposal of the equities in subsidiaries through multiple transactions by stages, and the
terms, conditions and economic impact of the transactions related to the enterprise's disposal of its investment in
the subsidiaries meet one or more of the following circumstances, it usually indicates that multiple transactions
should be included in a package deal and subject to accounting processing as below:
i. These transactions are concluded at the same time or under the consideration of mutual effect;
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
ii. These transactions as a whole can reach a complete business result;
iii.The occurrence of a transaction depends on the occurrence of at least one other transaction;
iv.A single transaction is uneconomical but is economical when considered together with other transactions.
Where various transactions of disposal of equity investments in subsidiaries until loss of the control belong to a
package deal, accounting treatment shall be made by the Company on the transactions as a transaction to dispose
subsidiaries and lose the control; however, the difference between each disposal cost and net asset share in the
subsidiaries corresponding to each disposal of investments before loss of the control should be recognized as other
comprehensive income in the consolidated financial statements and should be transferred into the current profit or
loss at the loss of the control.
Where various transactions of disposal of equity investments in subsidiaries until loss of the control do not belong
to a package deal, before the loss of the control, accounting treatment shall be made according to the relevant
policies for partial disposal of equity investments in the subsidiary without losing control; at the loss of the control,
accounting treatment shall be made according to general treatment methods for disposal of subsidiaries.
(3) Purchase of minority interest of subsidiaries
The share premium in the capital reserves under the consolidated balance sheet will be adjusted at the
difference between the long-term equity investment acquired by the Company for the purchase of minority
interest and the share of net assets calculated constantly from the acquisition date (or combination date)
according to the newly increased shareholding ratio. Where the share premium is insufficient to offset,
retained earnings will be adjusted.
(4) Partial disposal of equity investments in subsidiaries without losing control
The share premium in the capital reserves under the consolidated balance sheet will be adjusted at the
difference between the proceeds achieved from the partial disposal of long-term equity investments in
subsidiaries and the share of net assets of subsidiaries attributable to the Company corresponding to the
disposal of long-term equity investments and calculated constantly from the acquisition date or combination
date, without losing the control. Where the share premium is insufficient to write down, the retained earnings
will be adjusted.
7. Classification and accounting treatment of joint venture arrangements
Joint venture arrangements are classified into joint operation and joint venture.
Joint operation refers the joint venture arrangement where the Company is a joint venturer and enjoys assets
relevant the joint venture arrangement and assumes liabilities relevant to the same.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
The Company recognizes the following items related to its share of benefits in the joint operation and
conduct accounting treatment in accordance with relevant accounting standards for business enterprises:
(1) assets peculiar to the Company and assets jointly owned by the Company based on shares held;
(2) liabilities undertaken by the Company solely and liabilities jointly undertaken by the Company based on
shares held;
(3) revenue from the sales of output share enjoyed by the Company in the joint operation;
(4) revenue from the sales of the joint operation output based on the shares held by the Company; and
(5) separate costs, and costs for the joint operation based on the shares held by the Company.
8. 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 of the Company. 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.
9. Foreign currency business and foreign currency statement conversion
Foreign currency transactions will be translated at the spot exchange rate on the transaction date and be accounted
for at RMB.
The balance of foreign currency monetary items are translated at the spot exchange rate on the balance sheet date
and the exchange differences arising therefrom shall be included in the current profit and loss, except those
exchange differences arising from the special borrowings of foreign currency related to the acquired and
constructed assets qualified for capitalization that will be capitalized at the borrowing expenses. Foreign currency
non-monetary items measured at historical costs shall still be converted at the spot exchange rates when the
transactions occur, without changing the functional currency amount. Foreign currency non-monetary items
measured at fair value shall be translated at the spot exchange rates on the day when the fair value is determined.
The exchange difference arising therefrom is included in the current profit and loss or capital reserves.
10. Financial instruments
Financial instruments include financial assets, financial liabilities and equity instruments.
1) Classification of financial instruments
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Upon initial recognition, financial assets and financial liabilities are classified into: 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; held-to-maturity investments; receivables; available-for-sale financial assets; and other
financial liabilities, etc.
2) Recognition and measurement of financial instruments
(1) Financial assets (financial liabilities) measured at fair value through current profit and loss
Financial assets (financial liabilities) measured at fair value through current profit and loss are initially recognized
at the fair value upon acquisition (net of cash dividends declared but not yet paid or bond interest due but not yet
received) and the related transaction costs are included in 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.
The difference between the fair value and the initial book-entry value is recognized as investment income upon
disposal; meanwhile, adjustments are made to profits or losses from changes in fair values.
(2) Held-to-maturity investments
Held-to-maturity investments are initially recognized at the sum of the fair value (net of bond interest due but not
yet received) and related transaction costs upon acquisition.
The interest income is calculated and recognized according to amortized costs and effective interest rates (as per
coupon rates if the difference between effective interest rates and coupon rates is small) during the holding period,
and is included in the investment income. The effective interest rates are determined upon acquisition and remain
unchanged during the expected remaining period, or a shorter period if applicable.
Upon disposal, the difference between the purchase price obtained and the book value of the investment is
recognized in investment income.
(3) Receivables
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, prepayment and others, the initial
recognition amount shall be the contract price or agreement price receivable from purchasing party; for those with
financing nature, they are initially recognized at their present values.
Upon recovery or disposal, the difference between the purchase price obtained and the book value of the
receivables is recognized in current profit and loss.
(4) Available-for-sale financial assets
Financial assets (financial liabilities) measured at fair value through current profit and loss are initially recognized
at the fair value and related transaction expenses upon acquisition (net of cash dividends declared but not yet paid
or bond interest due but not yet received).
The interests or cash dividends to be received during the holding period are recognized as investment income. The
interest or cash dividends should be measured at fair value and their changes in fair value should be included in
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
other comprehensive income. However, for an equity instrument investment that has no quoted price in an active
market and whose fair value cannot be reliably measured, and for derivative financial asset linked to the said
equity instrument investment and settled by delivery of the same equity instrument, they shall be measured at cost.
Difference between the proceeds and the book value of the financial assets is recognized as investment profit or
loss upon disposal; meanwhile, amount of disposal corresponding to the accumulated change in fair value which
is originally and directly included in other comprehensive income shall be transferred out and recognized as
investment gains or losses.
(5) Other financial liabilities
Other financial liabilities are initially recognized at the sum of fair value and transaction expenses, and
subsequently measured at amortized costs. Subsequent measurement is conducted at the amortized cost.
3) Recognition and measurement of transfer of financial assets
When a financial assets transfer occurs, the financial assets will be derecognized when substantially all the risks
and rewards on the ownership of the financial assets have been transferred to the transferee; and they will not be
derecognized if substantially all the risks and rewards on the ownership of the financial assets have been retained.
When determining whether the transfer of a financial asset meets the above de-recognition criteria of financial
assets, the Company adopts the principle of substance over form. The Company classifies the transfer of a
financial asset into the entire transfer and the partial transfer of financial asset. Where the entire transfer of the
financial asset meets the de-recognition conditions, the difference of the following two amounts will be included
in 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 de-recognition, 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 the derecognized part;
(2) The sum of the consideration for the derecognized part and the portion of de-recognition 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 de-recognition criteria, the financial assets shall continue to be
recognized, and the consideration received will be recognized as a financial liability.
4) De-recognition criteria of financial liabilities
Where the present obligations of financial liabilities have been discharged in whole or in part, the financial
liability is derecognized or any part thereof will be derecognized; if the Company signs an agreement with
creditors to replace the existing financial liabilities by undertaking new financial liabilities, and the new financial
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
liabilities are substantially different from the existing ones in terms of contract terms, the existing financial
liabilities will be derecognized, and at the same time, the new financial liability will be recognized.
Where substantive changes are made to the contract terms of existing financial liability in whole or in part, the
existing financial liabilities or part thereof will be derecognized, and the financial liability the terms of which have
been modified will be recognized as a new financial liability.
Where financial liabilities are derecognized is whole or in part, the difference between the book value of the
financial liabilities derecognized and the consideration paid (including non-cash assets transferred out or new
financial liabilities borne) will be included into current profit and loss.
Where the Company repurchases part of a financial liability, the entire book value of the financial liability shall be
split into the derecognized part and continuously-recognized part according to their respective relatively fair
values on the repurchase date. The difference between the book value of the derecognized part and the
consideration paid (including non-cash assets transferred out or 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
The fair value of a financial instrument, for which there is an active market, is the prices quoted for it therein. Fair
value of a financial instrument having no active market shall be determined by using valuation techniques. At the
time of valuation, the Company adopts the techniques that are applicable in the current situation and supported by
enough available data and other information, selects the input values that are consistent with the features of assets
or liabilities as considered by market participants in relevant asset or liability transactions, and gives priority to
use relevant observable inputs. The unobservable inputs are used only under the circumstance when it is
impossible or unobservable inputs to obtain relevant observable inputs.
6) Testing and accounting methods of impairment of financial assets (excluding receivables)
Except for the financial assets measured at fair values through current profit and loss, the book value of financial
assets on the balance sheet date should be checked. If there is objective evidence that a financial asset is impaired,
provision for impairment shall be made.
(1) Impairment provision for available-for-sale financial assets:
If the fair value of available-for-sale financial assets has significantly declined at the end of the period, or it is
expected that the trend of decrease in value is non-temporary after considering various relevant factors, the
impairment shall be recognized, and accumulated losses from decreases in fair value originally and directly
included in owners’ equity shall be all transferred out and recognized as impairment loss.
For available-for-sale debt instruments whose impairment losses have been recognized, if their fair values rise in
the subsequent accounting period and such rise is objectively related to the matters occurring after the recognition
of impairment loss, the previously recognized impairment loss shall be reversed and recorded into the current
profit and loss.
Impairment losses on available-for-sale equity instruments shall not be reversed through profit or loss.
(2) Impairment provision for held-to-maturity investments:
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Measurement of impairment losses on held-to-maturity investments is treated in accordance with the measurement
method for impairment losses on receivables.
11. Note receivable
12.Account receivable
(1) Account receivable with individually significant amount and with bad debt provision accrual
independently
Basis and standard for "individually
Top 5 accounts receivable and other receivables by individual amount at the end of the year
significant"
The Company will separately conduct an impairment test on an individual basis and the
allowance for bad debts will be made at the lower of the present value of the expected future
Methods for provision for bad debts
cash flow and the book value thereof and included in current profit and loss. Those do not
of receivables with individually
impair after the separate test shall be included into corresponding portfolio for provision for
significant amount:
bad debts. If separate test indicates that there is impairment of receivables, they shall not be
included the receivables portfolio with similar risk credit characteristics for an impairment test.
(2) Receivables provided for bad debts on a portfolio basis
Portfolio Methods for provision for bad debts
Account age Age of the account
Accrual method for bad debt provision by portfolio
Account age Aging analysis
Account age Provision ratio for receivables Proportion ratio for other receivables
Within 1 year (inclusive) 0.00% 0.00%
1-2 years 5.00% 5.00%
2-3 years 15.00% 15.00%
Over 3 years
3-4 years 25.00% 25.00%
4-5 years 50.00% 50.00%
Over 5 years 100.00% 100.00%
(3) Accounts receivable with individually insignificant amounts and individual allowance for bad debt
Reasons for separate At the end of the year, there are objective evidences showing that the individual balances below top five
provision of allowance for are impaired; for example, the debtor is dissolved, bankrupts or dies, and therefore the receivables
bad debts cannot be recovered after the bankruptcy property or the estate is repaid.
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if there is an objective evidence that the impairment on receivables has occurred, such receivables shall
be separated from relevant portfolio to conduct impairment test separately, based on which the
Provision method of
impairment losses are recognized.
allowance for bad debts
Receivables other than accounts receivable and other receivables are subject to impairment provision
by using the specific identification methods.
(4) Reversal of bad debt provision
If there is objective evidence that the value of the receivable has been recovered and is objectively related to the matters occurred
after the recognition of the loss, the previously recognized impairment loss shall be reversed and included in the current profit or loss.
However, the book value after the reversal does not exceed the amortized cost of the receivable on the reversal date, assuming no
provision for impairment.
13. Receivables financing
14.Other account receivable
Determination and accounting treatment of the expected credit loss for other account receivable: nil
15. Inventories
Does the Company need to comply with the disclosure requirement of the special industry
Nil
16. Contract assets
17.Contract costs
18. Assets held for sale
19. Investment in debt obligations
20. Other investment in debt obligations
21. Long-term account receivable
22. Long-term equity investment
1) Judgment criteria for common control and significant influence
Joint control refers to the control shared over an arrangement in accordance with the relevant stipulations, and the
decision-making of related activities of the arrangement should not be made before the party sharing the control
right agrees the same. Where the Company exercises joint control over the investee together with other parties to
the joint venture and enjoys the right on the investee's net assets, the investee is a joint venture of the Company.
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Significant influence refers to the power to participate in making decisions on the financial and operating policies
of an enterprise, such as appointing representative to the board of directors or similar organs of authority of the
investee, but not the power to control the investee, or jointly control, the formulation of such policies with other
parties. Where an investor is able to have significant influences on an investee, the investee shall be the
Company's associate.
2) Determining of initial investment cost
(1) Long-term equity investment acquired from business combination
Business combination under the common control: if the Company pays a consideration to the combinee in cash,
by transferring non-cash assets or by assuming debts, the share of book value of its owners' equity in the combinee
in the consolidated financial statements of the ultimate controlling party shall be regarded, on the merger date, as
the initial investment cost of the long-term equity investment. If there is a difference between the initial
investment cost of the long-term equity investment and the total of book values of the paid cash, transferred
non-cash assets and of assumed debts as well as the face value of issued share, the difference shall be used to
adjust the share premium in the capital reserve; and if the share premium in the capital reserve is insufficient to be
offset, retained earnings shall be adjusted.
In case the Company can exercise control over the investee under common control for additional investment or
other reasons, the initial investment cost of long-term equity investments is recognized at the share of book value
of net asset of the acquiree after the combination in the consolidated financial statements of the ultimate controller
on the combination date. The stock premium should be adjusted at the difference between the initial investment
cost of long-term equity investments on the combination date and the book value of long-term equity investments
before the combination plus the book value of consideration paid for additional shares; if there is no sufficient
stock premium for write-downs, the retained earnings are adjusted.
Business combination not under the common control: the Company recognizes the combination cost determined
on the combination date as the initial cost of long-term equity investments. Where the Company can control the
investee not under common control from additional investments, the initial investment cost should be changed to
be accounted for under the cost method and recognized at the sum of the book value of equity investments
originally held and newly increased investment cost. Under business combination not under the common control,
the auditing, legal services, consulting and other intermediary fees and other related administrative expenses for
business combination will be included into current profit and loss upon occurrence; the transaction costs for the
issuance of equity securities or debt securities shall be included into the initial recognition amount of equity
securities or debt securities.
(2) Long-term equity investments obtained 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 investment cost is the fair
value of the issued equity securities.
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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 and the relevant taxes and surcharges
payable unless there is any conclusive evidence that the fair values of the assets traded in are more reliable; if the
exchange of non-monetary assets does not meet the above criteria, the book value of the assets traded out and the
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.
3) Subsequent measurements and recognition of gain or loss
(1) Long-term equity investment under cost method
Long-term equity investments in subsidiaries are accounted for 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 investment income in the current year at the cash
dividends or profits declared by the investee.
(2) Long-term equity investment accounted for in the equity method
The Company's long-term equity investments in associates and joint ventures are accounted for by using the
equity method. If the initial cost is more than the share of the fair value of the investee' identifiable net asset to
which the Company shall be entitled when investing, the initial cost of the long-term equity investment will not be
adjusted. If the initial cost of a long-term equity investment is less than the share of the fair value of the investee's
identifiable net asset to which the Company shall be entitled when investing, the difference shall be included in
the current profit or loss.
The Company respectively recognizes the investment income and other comprehensive income according to the
shares of net profit or loss and other comprehensive income realized by the investee that should enjoyed or
assumed by the Company, and adjusts the book value of long-term equity investment; according to the profit
declared to be distributed by the investee or the part shall be enjoyed cash dividends calculation, to reduce the
book value of long-term equity investment correspondingly; for other changesin owners' equity excepting for ex
all profit or loss of the investee, other comprehensive income and profit distribution, the book value of long-term
equity investment shall be adjusted and included in the owners' equity.
When recognizing the share of net profit or loss of the investee that the Company shall enjoy, based on fair value
of various identifiable assets and others of the investee on acquisition and according to accounting policies and
accounting periods of the Company, the Company shall recognize such share after making adjustments to net
profit of the investee. When holding the investment, the investee should prepare the consolidated financial
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statements, it shall account for the investment income based on the net profit, other comprehensive income and
the changes in other owner's equity attributable to the investee.
The Company shall write off the part of incomes from internal unrealized transactions between the Company and
associates and joint ventures which are attributable to the Company according to the corresponding ratio and
recognize the profit and loss on investments on such basis. Where the losses from internal transactions between
the Company and the investee fall into the scope of assets impairment loss, the full amount of such losses should
be recognized. For transactions on investments or sales of assets between the Company and associates and joint
ventures, where such assets constitute business, they should be accounted for according to the relevant policies.
When the Company recognizes its share of loss incurred to the investee, treatment shall be done in the following
sequence: firstly, the book value of the long-term equity investment shall be reduced; secondly, where the book
value thereof is insufficient to cover the share of losses, investment losses are recognized to the extent of book
value of other long-term equities which form net investment in the investee in substance and the book value of
long term receivables shall be reduced. Finally, after all the above treatments, if the Company is still responsible
for any additional liability in accordance with the provisions stipulated in the investment contracts or agreements,
provisions are recognized and included into current investment loss according to the obligations estimated to
undertake. An investing party shall recognize the net loss incurred by the invested entity until the book value of
the long-term equity investment and other long-term interests which substantially form the net investment in the
invested entity are reduced to zero, unless the investing party is obliged to undertake extra losses. If the invested
entity realizes any net profit later, the investing party shall, after the amount of its attributable share of profits
offsets its attributable share of the unrecognized losses, resume recognizing its attributable share of profits.
(3) Disposal of long-term equity investments
For disposal of long-term equity investments, the difference between the book value and the actual price shall be
included into the current profit or loss.
Where a long-term equity investment is accounted for under the equity method, accounting treatment should be
made on the part which is originally included in other comprehensive income according to corresponding ratio by
using the same basis for the investee to directly dispose of the relevant assets or liabilities when the investments
are disposed of. Owner's equity recognized from the investee's changes in other owner's equity other than net
profit or loss, other comprehensive income and profit distribution should all transferred to the current profit and
loss in proportion.
In case the joint control or significant influence over the investee is lost for disposing part of equity investments or
other reasons, the remaining equity will be changed to be accounted for according to the recognition and
measurement principles of financial instruments. The difference between the fair value and the book value on the
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date of the loss of joint control or significant influence should be included in the current profit and loss. As to
other comprehensive income recognized based on measurement of the original equity investment under the equity
method, accounting treatment shall be made on the same basis as would be required if the investee had directly
disposed of the assets or liabilities related thereto when measurement under the equity method is terminated.
Owner's equity recognized from the investee's changes in other owner's equity other than net profit or loss, other
comprehensive income and profit distribution should all transferred to the current profit and loss when the equity
method confirmed is no longer adopted.
Where the Company loses the control over the investee due to disposal of partial equity investments or other
reasons, when it prepares separate financial statements, the remaining equity after disposal that can jointly control
or have significant influence on the investee will be measured at the equity method, and the remaining equity
should be deemed to have been adjusted at equity method on acquisition;
If the remaining equity after disposal cannot exercise joint control or significant influence on the investee, such
investments should be accounted for according to the provisions on the recognition and measurement of financial
instruments and the difference between fair value and book value on the date of loss of the control should be
included in the current profit and loss.
Where the disposed equities are acquired by the enterprise combination due to the reasons such as additional
investment, the remaining equities after the disposal are calculated based on the cost method or equity method in
preparing the individual financial statements, and other comprehensive income and other owners' equity
recognized because of the equity method adopted for the calculation of the equity investment held prior to the
purchase date are carried forward in proportion; the remaining equities after the disposal are changed to be made
in accordance with the relevant provisions in the recognition and measurement criteria of financial instruments
while other comprehensive income and other owners' equity are carried forward in full.
23. Investment property
Measurement mode
Measured by cost method
Depreciation or amortization method
Investment properties are properties to earn rentals or for capital appreciation or both. Examples include land
leased out under operating leases, land held for long-term capital appreciation, buildings leased out under
operating leases, (including buildings that have been constructed or developed for future lease out under operating
leases, and buildings that are being constructed or developed for future lease out under operating leases).
The Company measures the existing investment properties by using the cost model. For investment property
measured by using the cost model, the buildings for lease shall be depreciated by using policies the same as used
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for fixed assets of the Company, and the land use rights for lease shall be amortized by using the same policies as
applicable to intangible assets.
24. Fixed assets
(1) Recognition criteria
1)Fixed assets refer to tangible assets held for the purpose of producing commodities, providing services,
renting or business management with useful lives exceeding one year. Fixed assets are recognized when they
simultaneously meet the following conditions:
(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) Classification: Fixed assets can be classified into: buildings and constructions, electronic equipment,
transport equipment, electronic entertainment equipment, other equipment and decoration improvements.
3)Initial measurement of fixed assets
Fixed assets shall be initially measured at actual costs on acquisition.
The costs of externally acquired fixed assets shall be determined by their purchase prices, related taxes and
surcharges and any attributable transport expenses, loading and unloading expenses, installation expenses
and professional service expenses incurred to prepare the fixed assets for its serviceable condition.
If the payment for a fixed asset is delayed beyond the normal credit conditions and it is of the financing
nature, the cost of the fixed asset shall be determined on the basis of the current value of the purchase price.
Costs of self-built fixed assets consist of necessary expenditures incurred before preparing the asset to reach
the condition for its intended use.
For fix assets obtained in debt restructuring by debtors for the settlement of his liabilities, their book-entry
value should be initially stated based on their fair values. Differences between the book values and the fair
values of the fix assets are included in the current profit and loss;
If the exchange of non-monetary assets has commercial substance, and the fair value of these assets can be
measured reliably, the book-entry value of fixed assets traded in is determined on the basis of the fair value
of the fixed assets traded out unless there is any conclusive evidence that the fair value of the assets traded in
is more reliable; if the exchange of non-monetary assets does not meet the above criteria, the cost of the
fixed assets traded in should be the book value of the assets traded out and relevant taxes and surcharges
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payable, and no profit or loss shall be recognized.
For fixed assets acquired from business combination under common control, their book-entry values are
recognized at the book values of the combinee; for fixed assets acquired from business combination not
under common control, their book-entry values are recognized at the fair value.
The Company shall state the assets acquired under finance lease at the lower of the book value of the leased
assets on the lease beginning date or the present value of the minimum lease payments.
(2) Depreciation method of fixed assets
Yearly depreciation
Asset type Depreciation method Year for depreciation Residual value rate
rate
Houses and buildings Straight-line method 20-40 5% 4.75%-2.37%
Mechanical equipment Straight-line method 8-20 5% 11.87%-4.75%
Entertainment
Straight-line method 5-16 5% 19%-5.93%
equipment
Transportation
Straight-line method 7-12 5% 13.57%-7.91%
equipment
Other equipment Straight-line method 8 5% 11.87%
(3) Reorganization basis, valuation and depreciation method for financial lease assets
25. Construction in progress
The Company need to comply with the disclosure requirement under Industry Information Disclosure Guidelines of the Shenzhen
Stock Exchange No.2 - Listed Companies Engaged in Related Business of Solid Mineral Resources
The book-entry values of the fixed assets are stated at total expenditures incurred before reaching 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. 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.
The total amount of expenditure incurred by the project under construction before the construction of the asset
reaches the expected usable condition is recorded as the entry value of the fixed assets. If the project under
construction of fixed assets has reached the expected usable condition, but has not yet completed the final
settlement of the project, it will be transferred to the fixed value by the estimated value according to the project
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budget, cost or actual cost of the project from the date of the scheduled usable condition, and will be accrued the
depreciation of fixed assets according to the Company's fixed assets depreciation policy, after the completion of
final accounts, the original temporary valuation shall be adjusted according to the actual cost, but the original
depreciation amount will not be adjusted.
26. 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 relevant asset costs; other
borrowing costs should be recognized as costs according to the amount incurred and be included into the 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) Purchase, construction or manufacturing activities that are necessary to prepare the assets for their intended
use are in progress.
2) Capitalization period of borrowing costs
Capitalization period refers to the period from commencement of capitalization of borrowing costs to its cessation;
period of suspension for capitalization is excluded.
Capitalization of borrowing costs should cease when the acquired and constructed or produced assets eligible for
capitalization have reached the working condition for their intended use or sale.
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 suspension for capitalization
If the acquisition and construction or production activities of assets eligible for capitalization are abnormally
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interrupted and such condition lasts for more than three months, the capitalization of borrowing costs should be
suspended; if the interruption is necessary procedures for the acquired, constructed or produced assets eligible for
capitalization to reach the working conditions for its intended use or sale, the borrowing costs continue to be
capitalized. Borrowing costs incurred during the interruption are recognized as the current profit and loss and
continue to be capitalized until the acquisition, construction or production of the asset restarts.
4) Calculation 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
borrowings 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 end of each month
by the capitalization rate of used general borrowings. The capitalization rate is calculated by weighted average
interest rate of general borrowings.
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.
27. Biological assets
28. Oil-and-gas assets
29. Right-of-use assets
30. Intangible assets
(1) Valuation method, useful lives and impairment
1)Valuation method of intangible assets
(1) The Company initially measures intangible assets at cost on acquisition;
The costs of externally purchased intangible assets include purchase prices, relevant taxes and surcharges and
other directly attributable expenditures incurred to prepare the assets for their intended use. If the payment for an
intangible asset is delayed beyond the normal credit conditions and it is of the financing nature, the cost of the
intangible asset shall be determined on the basis of the current value of the purchase price.
For an intangible asset obtained in debt restructuring by a debtor for the settlement of relevant liability, the
book-entry value shall be initially recognized based on the fair value of the intangible asset. Difference between
the book value of restructured debts and the fair value of the intangible asset used for debt off-set shall be
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included in the current profit or loss;
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 with 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 and surcharges payable should be recognized as the cost of the intangible
assets, with gains or losses not recognized.
For intangible assets acquired from business combination under common control, the initial book value are
initially recognized at the book value of the combinee; for intangible assets acquired from business combination
not under common control, the initial book value are initially 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 expenses meeting the condition for capitalization, and other direct
expenses for preparing the intangible assets for their intended use.
(2) Subsequent measurement
The useful lives of the intangible assets are analyzed and determined on their acquisition.
For intangible assets with definite useful lives, the Company shall adopt the straight-line method for amortization
within the period during which they can bring economic benefits to the Company; where the period during which
they can bring economic benefits to the Company cannot be forecast, those intangible assets shall be deemed as
assets with indefinite lives and no amortization will be made.
2) Estimates of useful lives of intangible assets with definite useful lives
Item Estimated useful lives Basis
Land use rights 50 years Use term for the land use right title
The useful life and amortization method of intangible assets with limited useful life 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 were not different from those
estimated before.
3)Judgment basis for intangible assets with indefinite useful lives
As at the balance sheet date, the Company has no intangible assets with indefinite useful lives.
(2) Accounting policy of internal R&D expenditures
31. Impairment of long-term assets
For the long-term equity investments, investment properties, fixed assets, construction in progress, intangible
assets, and other long-term assets measured at cost model, if there are signs of impairment, an impairment test will
be conducted on the balance sheet date. If impairment test results indicate that the recoverable amounts of the
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assets are lower than their book value, the provision for impairment is made based on the differences, which are
recognized as impairment losses. The recoverable amounts of intangible assets are the higher of their fair values
less costs to sell and the present values of the future cash flows expected to be derived from the assets. The assets
impairment provision is calculated and made on an individual basis. If it is difficult for the Company to estimate
the recoverable amount of the individual asset, the recoverable amount of an asset group to which the said asset
belongs to will be determined. Asset group is the minimum combination of assets that can independently generate
cash inflows.
After the losses from asset impairment are recognized, they are not reversed in subsequent periods.
32. Long-term deferred expenses
Long-term deferred expenses refer to various expenses which have been already incurred but will be born in the
reporting period and in the future with an amortization period of over one year.
1) Amortization method
Long-term deferred expenses are evenly amortized over the beneficial period
2) Amortization period
Item Amortization period
Hotel exterior decoration 4 years
Fire stairs renovation 4 years
C FLOOR ROOM RENOVATION 5 years
Villa renovation 5 years
Swimming pool renovation 5 years
33. Contract liabilities
34. Employee compensation
(1) Accounting method for short-term compensation
During the accounting period when employees serve the Company, the actual short-term compensation is
recognized as liabilities and included in current profit and loss or costs associated with assets.
The appropriate amount of employee compensation payable will be determined during the accounting period
when the employees provide services for the Company based on the medical insurance, work injury insurance and
maternity insurance and other social insurance and housing fund paid by the Company for employees, as well as
trade union funds and employee education funds withdrawn according to provisions at the accrual basis and
accrual ratio.
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The employee benefits in the non-monetary form shall be measured at fair value.
(2)Accounting method for dismissal welfare
When the Company fails to unilaterally withdraw the dismissal benefits offered due to the termination of the
labor relation plan or layoff proposal, or confirms the costs or fees associated with the reorganization
involving the payment of the dismissal benefits (whichever is earlier), the employee compensation liabilities
arising from the confirmation of dismissal benefits are included in the current profit or loss.
(3) Accounting method for post-employment benefits
The Company pays the basic endowment insurance premiums and unemployment insurance for employees
according to the relevant provisions of the local governments. During the accounting period when employees
serve the Company, the paid amount which is calculated based on the payment base and proportion as
stipulated in the provisions of the local place is recognized as liabilities and included in the current profit or
loss or assets-related assets cost.
(4) Accounting method for other long-term employee welfare
35. Lease liability
36. Estimated liabilities
When the Company is involved in litigation, debt guarantees, loss-making contract, reorganization matters, if such
matters are likely to be satisfied by delivery of assets or provision of services in the future and the amount can be
measured reliably, they shall be recognized as estimated liabilities.
1) Recognition criteria for estimated liabilities
When an obligation relating to a contingency meets all the following conditions at the same time, it is recognized
as an estimated liability:
(1) Such obligation is a present obligation of the Company;
(2) The performance of such obligation may well cause outflows of economic benefits from the Company; and
(3) The amount of such obligation can be measured reliably.
2) Measurement method of estimated liabilities
The estimated liabilities of the Company are initially measured as the best estimate of expenses required for the
performance of relevant present obligations.
When the Company determines the best estimate, it should have a comprehensive consideration of risks with
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respect to contingencies, uncertainties and the time value of money. If the time value of money is significant, the
best estimates will be determined after discount of relevant future cash outflows.
The best estimates shall be treated as follows in different circumstances:
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 estimates will 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, in case that the contingency involves a single
item, the best estimate shall be 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 estimated liabilities of the Company are expected
to be compensated by a third party, the compensation shall be separately recognized as an asset only when it is
virtually certain to be received. The compensation recognized shall not exceed the book value of the estimated
liabilities.
37. Share-based payment
38. Other financial instrument as preferred stock and perpetual bond etc.
39. Revenue
Does the Company need to comply with the disclosure requirement of the special industry
No
Whether the new revenue standards been implemented
□Yes √No
40. Government grants
1) Type
Government grants refer to the monetary or non-monetary assets obtained by the Company from the
government for free. Government grants are divided into asset-related government grants and income-related
government grants.
Asset-related government grants refer to government grants obtained by the Company for forming long-term
assets by acquisition, construction or other manners. Income-related government grants refer to government
grants excluding the asset-related government grants.
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2)Recognition time and measurement
Government grants can be recognized when simultaneously meeting the following conditions:
1) The enterprise can meet conditions attached to government grants; and
2) The enterprise can receive government grants.
If a government grant is a monetary asset, it shall be measured at the amount received or receivable.
Government grants shall be measured at receivables when there is strong evidence at the end of the period
that such grants comply with the relevant conditions prescribed by the financial support policies and the
financial support funds are expected to be received. Other financial grants shall be confirmed according to
the amount of money received.
If government grants are non-monetary assets, they shall be measured at its fair value; and if the fair value
cannot be obtained in a reliable way, they shall be measured at a nominal amount.
3)Accounting treatment
A- Asset-related government grants
shall be used to offset the book value of relevant assets or recognized as deferred income. If asset-related
government grants are recognized as deferred income, they shall be included in profit or loss by stages by a
reasonable and systematic method within the useful lives of relevant assets. Government grants measured at
the nominal amount are directly included in the current profit or loss.
Where relevant assets are sold, transferred, scraped or damaged before the end of their lives, balance of the
relevant unallocated deferred income is transferred to the current profit and loss on asset disposal.
B- Accounting treatment will be conducted for government grants associated with income in accordance
with the following provisions:
a) government grants associated with income that are used to recover relevant costs or losses of the
enterprise in subsequent period are recognized as deferred income and included in the current profit or loss
when relevant costs or losses are recognized;
b) If government grants related to income are used to compensate the relevant costs and losses that have
occurred, such government grants should be directly included in the current profit or loss.
c)Where both the asset-related government grants and income-related government grants are covered, the
accounting treatment should be done respectively by distinguishing the asset-related government grants and
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income-related government grants; if it is difficult to distinguish, these government grants will be classified
into the income-related government grants as a whole.
C-Any government grant related to the daily activities of an enterprise shall be included into other income in
accordance with the business nature. Government grants unrelated to the daily activities of enterprises shall
be recorded as non-operating revenues and expenditures.
41. Deferred tax assets and deferred tax liabilities
Deferred tax assets are recognized for deductible temporary differences to the extent that it shall not exceed
the taxable income probably obtained in future period that can be used for deducting the deductible
temporary differences.
Taxable temporary differences are recognized as deferred tax liabilities in addition to special circumstances.
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.
When the Company has the statutory right to do settlement with the net amounts, and has the intention to do
so or the recovery of assets and the settlement of liabilities are achieved simultaneously, the Company shall
present its current income tax assets and current income tax liabilities at the net amounts as the result of one
offsetting another.
When the Company has the legal rights to balance income tax assets and income tax liabilities for the current
period with net settlement, and deferred income tax assets and deferred income tax liabilities are related to
the income tax which are imposed on the same taxpaying subject by the same tax collection authority or on
different taxpaying subjects, but, in each important future period in connection with the reverse of deferred
income tax assets and liabilities, the involved taxpaying subject intends to balance income tax assets and
liabilities for the current period with net settlement at the time of obtaining assets and discharging liabilities,
deferred income tax assets and deferred income tax liabilities shall be presented based on the net amount
after offset.
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42. Lease
(1) Accounting treatment of operating lease
1) Accounting treatment of assets leased
The rental fees paid for the asset leased by the Company will be amortized over the entire lease term without
deducting rent-free period according to the straight-line method and included in the expenses for the current
period. The initial direct costs related to the lease transactions paid by the Company are included in the
current expenses.
When assets lessor bears costs related to the lease borne by the Company, the Company shall deduct the part
of expenses from the total rents and amortize the rents after deduction over the lease term and include them
in current expenses.
2)Accounting treatment of leasing-out 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
relating to lease transactions incurred by the Company shall be recognized as the current expenses; if the
amounts are significant, they shall be capitalized and included in the current income on the same basis as the
recognition of lease income.
When the Company bears costs related to the lease borne by the leasee, the Company shall deduct the part of
expenses from the total rents and amortize the rents after deduction over the lease term.
(2) Accounting treatment of finance lease
43. Other principal accounting policies and accounting estimates
44. Changes to principal accounting policies and accounting estimates
(1) Changes in principal accounting policies
□Applicable√Not applicable
(2) Changes in principal accounting estimates
□Applicable√Not applicable
(3) Adjustment on relevant items of financial statement at begging of the year when initially implemented
the new financial instruments standards, new revenue standards and new leasing standards
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
□Applicable√Not applicable
(4) Explanation of the retrospective adjustment on comparative data in the prior period while implemented
new financial instruments standards and new leasing standards for the first time
□Applicable√Not applicable
45. Other
VI.Taxation
1. Major tax types and tax rates applicable to the Company
Taxes Basis for tax assessment Tax rate
Output VAT is calculated based on taxable sales revenue and service revenue
Value added tax calculated in accordance with tax laws and VAT payable or taxable sales
5%, 6%, 9%, 10%, 13%
(VAT) revenue shall be the difference after deducting the input VAT deductible in the
same period
Urban maintenance
Levied based on VAT payable 7%
and construction tax
Enterprise income
Levied based on the taxable income 25%
tax
Education surtax Levied based on VAT payable 3%
Local education
Levied based on VAT payable 2%
surtax
Housing property Remaining value after deducting 30% from the original value of the house
1.2%, 12%
tax (including the occupied land price), and rent revenue
Land use tax Land area RMB 18 / m2
Disclose reasons for different taxpaying body: Nil
2. Tax preference
3. Other
VII. Notes to the items of financial statements
1.Monetary Fund
In RMB/CNY
Item Ending balance Beginning balance
Cash on hand 476,191.77 347,782.65
Bank deposits 15,634,704.18 15,016,572.65
Total 16,110,895.95 15,364,355.30
Other explanation: nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
2. Trading securities: nil
3. Derivative financial assets: nil
4. Note receivable: nil
5. Accounts receivable
(1)Disclosure of account receivables by category
In RMB/CNY
Ending balance Beginning balance
Provision for bad Provision for bad
Book balance Book balance
Category debt debt
Book value Book value
Proporti Provisio Proporti Provisi
Amount Amount Amount Amount
on n ratio on on ratio
Accounts
receivable with
provision for bad
debts based on
single item
Accounts
receivable with
provision for bad 230,062.48 100.00% 74,075.60 32.20% 155,986.88 500,510.47 100.00% 74,075.60 14.80% 426,434.87
debts based on
portfolios
Total 230,062.48 100.00% 74,075.60 32.20% 155,986.88 500,510.47 100.00% 74,075.60 14.80% 426,434.87
Provision for bad debts based on single item: nil
Provision for bad debt based on portfolios: nil
If the provision for bad debts of accounts receivable is made in accordance with the general model of expected credit losses, please
refer to the disclosure of other receivables to disclose the related information on bad debts:
□Applicable√Not applicable
Released by account age
In RMB/CNY
Account age Ending balance
Within 1 year (inclusive) 139,108.68
1-2 years 566.00
2-3 years 785.00
3-4 years 18,633.00
4-5 years 3,397.00
Over 5 years 67,572.80
Total 230,062.48
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(2)Provision, reversal or recovery of provision for bad debts in the period
Provision for bad debt in the period
In RMB/CNY
Amount changed in the period
Beginning
Category Reversal or Ending balance
balance Accrual Charge off
switch-back
Based on portfolios 74,075.60 74,075.60
Total 74,075.60 74,075.60
Including the major amount that reversal or switch-back in the period: nil
(3)Account receivable actually charge off in the period: nil
(4)Top five accounts receivable in terms of ending balance collected by the debtor
Name Relationship with Book balance Account age Proportion in total amount of
the Company accounts receivable(%)
Shanghai Hecheng International Travel Non-related party 35,788.40 Within 1 year 15.56%
Service Co., Ltd.
Yangpu Huayu Road and Bridge Non-related party 18,633.00 Over 5 years 8.10%
Technology Co., Ltd.
Guangzhou Institute of Design Non-related party 38,980.00 Over 5 years 16.94%
Shenzhen Tenpay Technology Co., Ltd. Non-related party 46,621.46 Within 1 year 20.26%
Tianjin Watermelon Tourism Limited Non-related party 24,414.82 Within 1 year 10.61%
Liability Company
Total 164,437.68 71.47%
(5)Account receivable that are terminated due to financial assets transfer: nil
(6)Assets and liabilities resulted by account receivable transfer and continues involvement : nil
6. Receivable financing: nil
7. Advance payment
(1)Disclosure of advance payment by account age
In RMB/CNY
Ending balance Beginning balance
Account age
Amount Proportion Amount Proportion
Within 1 year 396,882.60 100.00% 39,960.01 100.00%
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Total 396,882.60 -- 39,960.01 --
Explanation on reasons of failure to settle on important advance payment with age over one year: Nil
(2)Top five advances payment in terms of the ending balance collected by the prepaid object
Shenzhen J&J Space Design Co., Ltd. 213,592.23 53.82%
Sanya Shengxiang Mechatronics Engineering Co., Ltd. 110,415.00 27.82%
Hainan Haolong Fire Engineering Co., Ltd. 58,925.37 14.85%
Sanya Xingcai Electrical Co., Ltd. 13,230.00 3.33%
Business Daily of International Tourism Island 720.00 0.18%
Total 396,882.60
Other explanation: nil
8. Other receivable
In RMB/CNY
Item Ending balance Beginning balance
Other receivable 1,242,181.64 458,242.73
Total 1,242,181.64 458,242.73
(1)Interest receivable: Nil
(2)Dividend receivable: Nil
(3)Other account receivables
1)Other account receivable disclosed by nature
In RMB/CNY
Nature Ending book balance Opening book balance
Utility bills 206,254.34 185,368.69
Petty cash 838,955.14 133,411.23
Attorney fee 77,534.25 77,534.25
Court cost 62,970.00
Social insurance and housing provident funds 57,803.91 63,264.56
Deposit 600.00 600.00
Total 1,244,117.64 460,178.73
2)Provision for bad debt: nil
Change of the book balance for major amount changed in loss provision
□Applicable√Not applicable
Released by account age
In RMB/CNY
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Account age Ending balance
Within 1 year (inclusive) 1,241,881.64
4-5 years 600.00
Over 5 years 1,636.00
Total 1,244,117.64
3)Provision, reversal or recovery of provision for bad debts in the period
Provision for bad debt in the period
In RMB/CNY
Amount changed in the period
Category Beginning balance Reversal or Ending balance
Accrual
switch-back
Based on portfolios 1,936.00 1,936.00
Total 1,936.00 1,936.00
Including major amount reversal or switch-back in the period: nil
4)Other receivables actually charge off in the period: nil
5)Top five other accounts receivable in terms of ending balance collected by the debtor
In RMB/CNY
Ending Account Proportion in total amount of other Ending balance of
Name Nature
balance age accounts receivable at period-end provision for bad debt
Within 1
Wen Ping Petty cash 710,000.00 57.16% 0.00
year
Hainan New Concept Within 1
Attorney fee 77,534.25 6.23% 0.00
Law Firm year
Within 1
Peng Guoxing Utility bills 70,422.98 5.66% 0.00
year
Sanya Suburbs People’s Within 1
Court cost 62,970.00 5.06% 0.00
Court year
Within 1
Guo Yubo Petty cash 60,369.61 4.85% 0.00
year
Total -- 981,296.84 -- 78.88% 0.00
6)Account receivables related to government subsidies: Nil
7)Other receivable for termination of confirmation due to the transfer of financial assets: Nil
8)The amount of assets and liabilities that are transferred other receivable and continued to be involved: Nil
9. Inventories
Whether the new revenue standards been implemented
□Yes √No
(1)category of inventories
In RMB/CNY
87
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Ending balance Beginning balance
Item Provision for Provision for
Book balance Book value Book balance Book value
price decline price decline
Raw materials 836,342.72 683,941.58 152,401.14 870,043.52 725,731.58 144,311.94
Finished goods 22,771.38 11,102.41 11,668.97 22,771.38 11,102.41 11,668.97
Food and
12,526.82 12,526.82 43,935.10 43,935.10
beverage
Fuel 15,096.64 15,096.64 21,474.18 21,474.18
Total 886,737.56 695,043.99 191,693.57 958,224.18 736,833.99 221,390.19
Does the Company comply with the disclosure requirement of “Information Disclosure Guidelines of Shenzhen Stock Exchange
No.4–Listed Companies Engaged in Seed Industry and Planting Business” or not
No
(2)Provision for inventory depreciation
In RMB/CNY
Increase in the period Decrease in the period
Beginning
Item Reversal or Ending balance
balance Accrual Others Others
write-off
Raw materials 725,731.58 41,790.00 683,941.58
Finished goods 11,102.41 11,102.41
Total 736,833.99 41,790.00 695,043.99
(3) Explanation on capitalization of borrowing costs at ending balance of inventory: Nil
(4) Assets completed without unsettlement from construction contract at period-end: Nil
10. Contract assets: nil
11. Assets held for sale: nil
12. Non-current assets maturing within one year: nil
13. Other current assets
Whether the new revenue standards been implemented
□Yes √No
In RMB/CNY
Item Ending balance Beginning balance
Enterprise income tax paid in advance 1,702,702.80 1,702,702.80
Input tax to be deducted 385,035.78 103,556.98
Prepaid pending expenses 37,880.58 39,960.01
Total 2,125,619.16 1,846,219.79
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Other explanation: nil
14. Creditors investment: nil
15. Other creditors investment: nil
16. Long-term account receivable: nil
17. Long-term equity investment: nil
18. Investment in other equity instrument: nil
19. Other non-current financial assets: nil
20. Investment property
(1)Investment properties measured at cost
√Applicable□Not applicable
In RMB/CNY
Construction in
Item Houses and buildings Land use rights Total
process
I. Original book value
1.Beginning balance 18,856,504.44 5,662,740.59 24,519,245.03
2.Increase in the period
(1)Outsourcing
(2)Transfer from
inventories/fixed
assets/construction in process
(3)Increase from business
combinations
3.Decrease in the period
(1)Disposal
(2)Other transfer-out
4.Ending balance 18,856,504.44 5,662,740.59 24,519,245.03
II. Accumulated depreciation
and accumulated amortization
1.Beginning balance 10,607,583.54 2,219,726.45 12,827,309.99
2.Increase in the period 209,091.78 28,170.00 237,261.78
(1)Accrual or amortization 209,091.78 28,170.00 237,261.78
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
3.Decrease in the period
(1)Disposal
(2)Other transfer-out
4.Ending balance 10,816,675.32 2,247,896.45 13,064,571.77
III. Provision for impairment
1.Beginning balance 1,404,400.47 1,903,054.14 3,307,454.61
2.Increase in the period
(1)Accrual
3. Decrease in the period
(1)Disposal
(2)Other transfer-out
4.Ending balance 1,404,400.47 1,903,054.14 3,307,454.61
IV. Book value
1.Ending book value 6,635,428.65 1,511,790.00 8,147,218.65
2.Opening book value 6,844,520.43 1,539,960.00 8,384,480.43
(2)Investment real estate measured by fair value
□Applicable√Not applicable
(3)Investment real estate without property certification held: Nil
21. Fixed assets
In RMB/CNY
Item Ending balance Beginning balance
Fixed assets 34,997,520.16 36,497,869.65
Total 34,997,520.16 36,497,869.65
(1) Fixed assets details
In RMB/CNY
Houses and Mechanical Transportatio Electronic Other
Item Total
buildings equipment n equipment equipment equipment
I. Original book value ：
1.Beginning balance 136,789,501.82 11,033,550.54 2,345,074.91 2,664,528.39 1,926,451.84 154,759,107.50
2.Increase in the period 20,635.87 20,101.94 40,737.81
(1)Purchase 20,635.87 20,101.94 40,737.81
(2)Transfer from
construction in process
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(3)Increase from business
combinations
3.Decrease in the period 1,420,474.00 619,394.00 193,633.45 2,233,501.45
(1)Disposal or scrap 1,420,474.00 619,394.00 193,633.45 2,233,501.45
4.Ending balance 136,789,501.82 9,613,076.54 2,345,074.91 2,065,770.26 1,752,920.33 152,566,343.86
II. Accumulated depreciation
1.Beginning balance 72,499,344.50 7,970,060.88 1,587,022.54 1,938,853.10 1,224,791.47 85,220,072.49
2.Increase in the period 1,087,717.44 143,758.48 82,783.92 87,864.93 87,053.97 1,489,178.74
(1)Accrual 1,087,717.44 143,758.48 82,783.92 87,864.93 87,053.97 1,489,178.74
3.Decrease in the period 1,008,698.30 595,910.37 173,760.82 1,778,369.49
(1)Disposal or scrap 1,008,698.30 595,910.37 173,760.82 1,778,369.49
4.Ending balance 73,587,061.94 7,105,121.06 1,669,806.46 1,430,807.66 1,138,084.62 84,930,881.74
III. Provision for impairment
1.Beginning balance 31,072,788.17 1,968,377.19 33,041,165.36
2.Increase in the period
(1)Accrual
3.Decrease in the period 403,223.40 403,223.40
(1)Disposal or scrap 403,223.40 403,223.40
4.Ending balance 31,072,788.17 1,565,153.79 32,637,941.96
IV. Book value
1.Ending book value 32,129,651.71 942,801.69 675,268.45 634,962.60 614,835.71 34,997,520.16
2.Opening book value 33,217,369.15 1,095,112.47 758,052.37 725,675.29 701,660.37 36,497,869.65
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(2) Temporarily idle fixed assets: Nil
(3) Fixed assets acquired by financing lease: Nil
(4) Fixed assets acquired by operating lease: Nil
(5) Certificate of title un-completed: Nil
(6) Disposal of fixed assets: Nil
22. Construction in process: Nil
23. Productive biological asset
(1)Measured by cost
□Applicable√Not applicable
(2)Measured by fair value
□Applicable√Not applicable
24. Oil and gas assets
□Applicable√Not applicable
25. Right-of-use assets: Nil
26. Intangible assets
(1)Intangible assets
In RMB/CNY
Non-patents
Item Land use rights Patent right Total
technology
I. Original book value
1.Beginning balance 81,653,137.15 81,653,137.15
2.Increase in the
period
(1)Purchase
(2)Internal research
and development
(3)Increase from
business combinations
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
3.Decrease in the period
(1)Disposal
4.Ending balance 81,653,137.15 81,653,137.15
II. Accumulated
amortization
1.Beginning balance 32,007,051.27 32,007,051.27
2.Increase in the
406,193.58 406,193.58
period
(1)Accrual 406,193.58 406,193.58
3.Decrease in the
period
(1)Disposal
4.Ending balance 32,413,244.85 32,413,244.85
III. Provision for
impairment
1.Beginning balance 27,440,836.84 27,440,836.84
2.Increase in the
period
(1)Accrual
3.Decrease in the
period
(1)Disposal
4.Ending balance 27,440,836.84 27,440,836.84
IV. Book value
1.Ending book value 21,799,055.46 21,799,055.46
2.Opening book value 22,205,249.04 22,205,249.04
Ratio of the intangible assets from internal R&D in balance of intangible assets at period-end was 0%.
(2)Land use rights without certificate of ownership: Nil
27. Development expenditure: Nil
28. Goodwill: Nil
29. Long-term deferred expenses
In RMB/CNY
93
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Beginning Increase in the Amortization in
Item Other decreased Ending balance
balance period the period
Maintenance fee for main engine
50,116.50 50,116.50
system of the central AC
Renovation of guest rooms in
486,974.57 292,184.70 194,789.87
Building-B
Fire stairs renovation in Building-A 45,695.20 8,567.82 37,127.38
Renovation of guest rooms in
2,260,206.30 301,360.80 1,958,845.50
Building-C, villa and swimming pool
Total 2,792,876.07 50,116.50 602,113.32 2,240,879.25
Other explanation: nil
30. Deferred income tax assets and deferred income tax liabilities: Nil
31. Other non-current assets
Whether the new revenue standards been implemented
□Yes √No
Other explanation: nil
32. Short-term loans: Nil
33. Trading financial liability: nil
34. Derivative financial liability: nil
35. Notes payable: Nil
36. Accounts payable
(1)Presentation of accounts payable
In RMB/CNY
Item Ending balance Beginning balance
Payment for purchase 170,266.19 687,690.30
Accounts payable provisionally
660,218.61 534,359.35
estimated
Service charges 93,168.29 155,368.88
Payment for projects 14,274.10 134,274.10
Elevator maintenance fee 31,670.00 31,670.00
Advertisement fees 30,500.30 31,195.28
Consignment sales 22,335.90
Other 1,093.00 10,942.00
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Water rate 52,428.54
Natural gas fee 23,398.40
Total 1,077,017.43 1,607,835.81
(2)Major account payable with over one year account age: nil
37. Advances from customers
Whether the new revenue standards been implemented
□Yes √ No
(1)Presentation of advances from customers
In RMB/CNY
Item Ending balance Beginning balance
Room and meal charge 779,681.12 1,291,293.05
Total 779,681.12 1,291,293.05
(2)Significant advances from customers with aging more than one year
In RMB/CNY
Reasons for failure of repayment or
Item Ending balance
carry-forward
Guangzhou Nanbu Holiday International Travel
101,244.00 Unsettled
Service Co., Ltd. Sanya Branch
Hainan Xiangyuan Tourism Development Co., Ltd. 39,851.00 Unsettled
PEGAS Zheng Qingbo 32,243.02 Unsettled
Hainan Qiongzhong Ecological Investment Guarantee
22,926.00 Unsettled
Co., Ltd.
Sanya City Public Security Fire Brigade 19,420.88 Unsettled
Total 215,684.90 --
(3)Projects settlement without unfinished at period-end from construction contract: Nil
38. Contract liability: nil
39. Employee compensation payable
(1)Classification of employee compensation payable
In RMB/CNY
Increase in the
Item Beginning balance Decrease in the period Ending balance
period
95
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
I. Short-term compensation 2,841,262.35 6,031,396.03 7,044,691.32 1,827,967.06
II. Post-employment benefits -
547,368.99 547,368.99
defined contribution plans
Total 2,841,262.35 6,578,765.02 7,592,060.31 1,827,967.06
(2)Presentation of short-term compensation
In RMB/CNY
Increase in the
Item Beginning balance Decrease in the period Ending balance
period
1. Salaries, bonuses,
1,762,269.70 4,759,360.01 5,722,074.66 799,555.05
allowances and subsidies
2. Employee welfare expenses 759,981.75 759,981.75
3. Social insurance premiums 255,539.72 255,539.72
Including: medical
236,205.39 236,205.39
insurance premiums
Work-related
4,568.36 4,568.36
injury insurance premiums
Maternity
14,765.97 14,765.97
insurance premiums
4. Housing provident funds 90,050.00 90,050.00
5. Labor union expenditures
1,078,992.65 166,464.55 217,045.19 1,028,412.01
and employee education funds
Total 2,841,262.35 6,031,396.03 7,044,691.32 1,827,967.06
(3)Presentation of defined contribution plans
In RMB/CNY
Item Beginning balance Increase in the period Decrease in the period Ending balance
1. Basic endowment
532,614.48 532,614.48
insurance premiums
2. Unemployment
14,754.51 14,754.51
insurance premiums
Total 547,368.99 547,368.99
Other explanation: nil
40. Taxes payable
In RMB/CNY
Item Ending balance Beginning balance
Value added tax (VAT) 565,131.47 146,863.56
Individual income tax 25,850.99 -0.02
Urban maintenance and construction tax 2,108.62 761.67
96
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Housing property tax 97,050.95 194,101.69
Land use tax 54,295.47 108,590.92
Education surtax 903.68 326.42
Local education surtax 602.48 217.63
Total 745,943.66 450,861.87
Other explanation: nil
41. Other account payable
In RMB/CNY
Item Ending balance Beginning balance
Other account payable 2,942,968.71 2,727,483.66
Total 2,942,968.71 2,727,483.66
(1)Interest payable: Nil
(2)Dividend payable: Nil
(3)Other account payable
1)Presentation of other account payable by nature
In RMB/CNY
Item Ending balance Beginning balance
Employee dormitory rental fees, etc. 975,525.11 971,723.12
Margin 20,000.00 890,958.75
Audit fee 285,003.21 285,003.21
Quality guarantee deposit for projects 204,180.90 190,344.00
Employee deposit 86,520.00 165,700.90
Payment for projects 161,111.03 162,569.78
Funds collected and remitted 793,268.57 36,408.47
Individual current amounts 1,315.34 1,364.00
Electric charges withheld 24,494.55 23,411.43
Announcement fee 391,550.00
Total 2,942,968.71 2,727,483.66
2)Other significant account payable with aging of over one year
In RMB/CNY
Item Ending balance Reasons for failure of repayment or carry-forward
Yangpu Jinyu Industrial Co., Ltd. 627,000.00 Unsettled
Hong Kong Deloitte & Touche LLP 285,003.21 Unsettled
Sanya Shuxin Housing Waterproof
170,000.00 Unsettled
Engineering Co., Ltd.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
China Building Decoration Company
161,111.03 Unsettled
Hainan Branch
Total 1,243,114.24 --
Other explanation: nil
42. Liability held for sale: Nil
43. Non-current liability due within one year: Nil
44. Other current liability: Nil
45. Long-term loans: Nil
46. Bond payable: Nil
47. Lease liability: nil
48. Long-term account payable: nil
49. Long-term employee payable: nil
50. Estimated liabilities
Whether the new revenue standards been implemented
□Yes √No
In RMB/CNY
Item Ending balance Beginning balance Reasons
Provisions for arrears of electricity
Other 1,489,685.04 1,489,685.04
tariffs
Total 1,489,685.04 1,489,685.04 --
Other explanation, including important assumptions and estimation for the major accrual liability: nil
On May 26, 2016, the Company received a lawyer letter from Hainan Yunfan Law Firm entrusted by Sanya Power Supply Bureau of
Hainan Power Grid Co., Ltd. (hereinafter referred to as "Sanya Power Supply Bureau"), saying that Sanya Power Supply Bureau
found, in verifying electricity consumption by South China Hotel, a subsidiary of the Company, that the current transformer (CT)
installed in the distribution center metering counters in South China Hotel installed was inconsistent with the record in the marketing
management system file of Sanya Power Supply Bureau, and the duration of the inconsistence was from July 2006 when South China
Hotel changed its electricity consumption measuring device to April 2016. According to the statistics, electricity consumption of
10313373 KWH was measured in short, which was estimated to be valued at RMB 7,200,165.75 according to the electricity prices
and surcharge rates in the years.
According to the Legal Consultation Advice on Electricity Quantity (Electricity Charge) Claiming Dispute between South China
Hotel and Sanya Power Supply Bureau issued by Beijing Junhe (Haikou) Law Firm on December 20, 2016, as all electricity
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
consumption metering devices are purchased, installed, sealed, opened and replaced by Sanya Power Supply Bureau Responsible, the
short measurement of electricity charge from South China Hotel for many years was due to the fault of Sanya Power Supply Bureau,
and was irrelevant to South China Hotel. Pursuant to Article 135 of the General Principles of Civil Law: "Except as otherwise
stipulated by law, the limitation of action regarding applications to a people's court for protection of civil rights shall be two years.,
the Company accrued an amount of RMB 1,489,685.04 for the electricity charge for electricity quantity measured in short during two
years from April 2014 to April 2016.
51. Deferred income: nil
52. Other non-current liability: nil
Whether the new revenue standards been implemented
□Yes √No
53. Share capital
In RMB/CNY
Changes ( "+" for increase and "-" for decrease)
Beginning Public
Issuance Ending balance
balance Share reserve
of new Others Sub-total
donation transferred to
shares
shares
Total shares 364,100,000.00 364,100,000.00
Other explanation: nil
54. Other equity instrument: nil
55. Capital reserves
In RMB/CNY
Item Beginning balance Increase in the period Decrease in the period Ending balance
Capital premium
33,336,215.58 33,336,215.58
(share premium)
Other capital reserves 20,806,634.43 20,806,634.43
Total 54,142,850.01 54,142,850.01
Other explanation, including changes in the period and reasons: nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
56. Treasury stock: nil
57. Other consolidated income: nil
58. Reasonable reserve: nil
59. Surplus reserves: nil
60. Undistributed profits
In RMB/CNY
Item Current period Last period
Undistributed profits at the end of last year before adjustment -340,454,153.72 -341,107,435.91
Undistributed profits at the beginning of the year after adjustment -340,454,153.72 -341,107,435.91
Plus: net profit attributable to owners of the parent company in current period 755,974.01 1,282,165.58
Undistributed profit as at the end of the year -339,698,179.71 -339,825,270.33
Details about adjusting the retained profits at the beginning of the period:
1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the retained
profits at the beginning of the period amounting to 0 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the period amounting to 0 Yuan.
3) The major accounting error correction affects the retained profits at the beginning of the period amounting to 0 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the period amounting to 0 Yuan.
5) Other adjustments affect the retained profits at the beginning of the period amounting to 0 Yuan
61. Operating income and operating costs
In RMB/CNY
Current period Last period
Item
Income Cost Income Cost
Main business 14,241,961.04 5,514,477.93 16,173,929.32 6,000,063.36
Total 14,241,961.04 5,514,477.93 16,173,929.32 6,000,063.36
Whether the new revenue standards been implemented
□Yes √No
Other explanation: nil
62. Taxes and surcharges
In RMB/CNY
Item Current period Last period
Urban maintenance and construction tax 31,410.84 37,515.65
Education surtax 22,436.31 26,796.89
Housing property tax 215,587.50 431,174.78
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Land use tax 108,590.94 217,181.82
Vehicle and vessel use tax 5,220.00 3,669.06
Stamp tax 233.91 182.70
Total 383,479.50 716,520.90
Other explanation: nil
63. Sales expenses
In RMB/CNY
Item Current period Last period
Staff wages and benefits 1,834,677.00 1,841,236.40
Social workers insurance expenses 302,950.00 285,734.45
Depreciation 259,401.60 256,486.12
Utility bills 99,980.13 84,101.36
Repair charges 95,930.17 58,716.18
Other expenses 217,053.04 274,681.59
Total 2,809,991.94 2,800,956.10
Other explanation: nil
64. Administrative expenses
In RMB/CNY
Item Current period Last period
Staff wages and benefits 2,789,891.55 2,809,454.64
Social workers insurance expenses 321,053.70 266,303.18
Entertainment expenses 219,787.57 496,075.07
Travelling expenses 149,081.98 68,678.82
Amortization for the depreciation and
567,140.44 550,590.01
land use right
Announcement fee and agency charge 655,420.00 656,245.72
Other expenses 369,424.97 509,107.77
Total 5,071,800.21 5,356,455.21
Other explanation: nil
65. R&D expenses: nil
66. Financial expenses
In RMB/CNY
Item Current period Last period
Handling charges 18,965.03 40,293.06
Less: interest income -152,697.12 -22,729.87
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Total -133,732.09 17,563.19
Other explanation: nil
67. Other income: nil
68. Investment income: nil
69. Net open hedging benefits: nil
70. Gains from fair value changes: nil
71. Credit impairment loss: nil
72. Losses on assets impairment: nil
Whether the new revenue standards been implemented
□Yes √No
73. Income from assets disposal: nil
74. Non-operating income
In RMB/CNY
Item Current period Last period Amount included in non-recurring profit and loss in the current period
Other 160,030.46 273.00 160,030.46
Total 160,030.46 273.00 160,030.46
Government subsidies reckoned into current gains/losses: nil
75. Non-operating expenses
In RMB/CNY
Amount included in non-recurring
Item Current period Last period
profit and loss in the current period
Gains/losses from non-current assets scrapping 477.98
Total 477.98
Other explanation: nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
76. Income tax expenses
(1)Statement of income tax expenses: nil
(2)Adjustment process of accounting profit and income tax expenses
In RMB/CNY
Item Current period
Total profit 755,974.01
Make up the annual losses of previous years 755,974.01
Other explanation: nil
77. Other comprehensive income
See Note
78. Notes to items of the cash flow statement
(1)Cash received from other operating activities
In RMB/CNY
Item Current period Last period
Interest income 152,697.12 22,729.87
Other expenses 952,744.76 661,422.77
Total 1,105,441.88 684,152.64
Explanation: nil
(2)Cash paid for other operating activities
In RMB/CNY
Item Current period Last period
Social intercourse fees 221,362.57 497,075.07
Intermediary audit fee 400,000.00 400,000.00
Announcement fee 238,420.00 220,000.00
Travelling expenses 151,940.09 72,159.01
Promotion fee 92,705.15 109,649.14
Repair charges 211,454.36 163,503.73
Other expenses 978,613.63 212,185.21
Total 2,294,495.80 1,674,572.16
Explanation: nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(3) Cash received from other investment activities: nil
(4) Cash paid for other investing activities: nil
(5)Cash received from other financing activities: nil
(6)Cash paid for other financing activities: nil
79. Supplementary information to statement of cash flows
(1)Supplementary information to statement of cash flows
In RMB/CNY
Item Current period Last period
1 Net profit adjusted to cash flows from operating activities
． -- --
Net profits 755,974.01 1,282,165.58
Depreciation of fixed assets, depreciation and depletion of oil
1,698,270.52 1,799,584.50
and gas assets and depreciation of productive biological assets
Amortization of intangible assets 434,363.58 434,363.58
Amortization of long-term fees to apportioned 602,113.32 609,770.58
Loss from fixed assets scrapping ("-" for gains) 477.98
Decreases in inventories ("-" for increases) 29,696.62 -37,615.58
Decreases in operating receivables ("-" for increases) -513,490.92 -326,357.40
Increases in operating payable ("-" for decreases) -1,737,510.48 -651,711.64
Net cash flows from operating activities 1,269,416.65 3,110,677.60
2. Significant investing and financing activities not involving
-- --
cash receipts and payments
3. Net changes in cash and cash equivalents -- --
Balance of cash at the end of the period 16,110,895.95 11,751,658.64
Less: balance of cash at the beginning of the period 15,364,355.30 9,681,607.16
Net increase in cash and cash equivalents 746,540.65 2,070,051.48
(2) Net cash payment for the acquisition of a subsidiary of the current period: nil
(3) Net cash received from the disposal of subsidiaries: nil
(4) Breakdown of cash and cash equivalents
In RMB/CNY
Item Ending balance Beginning balance
I. Cash 16,110,895.95 15,364,355.30
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Including: cash on hand 476,191.77 347,782.65
Unrestricted bank deposits 15,634,704.18 15,016,572.65
III. Ending balance of cash and cash equivalents 16,110,895.95 15,364,355.30
Other explanation: nil
80. Notes for the statement of owners equity changes
Explain the items and adjusted amounted which have adjusted in “Other” of last year’s ending balance: nil
81. Assets with ownership or use right restricted: nil
82. Item of foreign currency
(1)Item of foreign currency: nil
(2)Explanation on foreign operational entity, including as for the major foreign operational entity,
disclosed main operation place, book-keeping currency and basis for selection; if the book-keeping
currency changed, explain reasons
□Applicable√Not applicable
83. Hedging
Released the items and relevant instruments by types, and qualitative and quantitative information for hedge risks: nil
84. Government subsidy
(1)Government subsidy: nil
(2)Refund of government subsidy
□Applicable √Not applicable
Other explanation: nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
85. Other
VIII. Changes of consolidation range
1. Enterprise consolidation not under the same control
(1)Enterprise consolidation not under the same control in current period: nil
(2) Combination costs and goodwill: nil
(3) Identifiable assets/liabilities of the purchasee on the date of purchase: nil
(4) Gain/loss from the equity re-measured at fair value held before purchasing date: nil
Enterprise combined step by step through multi-dealings and obtained controlling rights in the Period
□Yes √No
(5)Explanation on combined consideration or the identifiable assets and liabilities’ fair value of the
purchased party on purchasing date or at the end of the current period of merger, which is impossible to
determine in a reasonable way:
(6)Other explanation: nil
2. Enterprise consolidation under the same control
(1)Enterprise consolidation under the same control in current period
In RMB/CNY
Net profit of
Income of the Income
the
combined of the Net profit
Standar combined
Equity party from combin of the
Basis of d to party from
ratio period-begin ed party combined
combined Combinatio determi period-begin
Combined party obtained in of during party
under the n date ne the of
combinatio combination the during the
same control combina combination
n to the compari comparison
tion date to the
combination son period
combination
date period
date
Hainan Wengao
A Establis
Tourist Resources
100.00% wholly-owne 8 June 2018 hment 0.00 498.79 0.00 0.00
Development
d subsidiary date
Co., Ltd.
Other explanation: nil
106
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(2)Combined cost
In RMB/CNY
Combined cost
Cash 500,798.36
Book value of the non-cash assets 499,700.43
Explanation on contingent consideration and changes: nil
Other explanation: nil
(3) Book value of the assets/liabilities from combined party at date of combination
In RMB/CNY
Combining date Period-end of last period
Monetary Fund 500,798.36 1,000,000.00
Account receivable 499,700.43
Net assets 1,000,498.79 1,000,000.00
Net assets obtained 1,000,498.79 1,000,000.00
Contingent liabilities assumed by the merged party in a business combination: nil
Other explanation: nil
3. Counter purchase
Basic information of transactions, basis of transactions constituting counter purchase, whether assets and liabilities reserved by listed
companies constituting business and their basis, confirmation of combined cost, the amount occurred when adjusting rights and
interests in accordance with equity transaction and its calculation: Nil
4. Disposal of subsidiaries
Losing controlling rights while dispose subsidiary on one-time
□Yes √No
Dispose subsidiary step by step through multi-dealings and losing controlling rights in the Period
□Yes √No
5. Changes of combination scope
Other reasons contributed the changes for combination scope (e.g. new subsidiary established, liquidate subsidiary etc.): nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
6. Other
IX. Equity in other entity
1. Equity in the subsidiary
(1)Composition of enterprise
Main Share-holding ratio
Registration Gaining
Subsidiary operation Business nature
place Directly In-directly method
place
Hainan Wengao
Hainan
Tourist Resources Sanya City, Industrial Cash
Province, 100.00%
Development Co., China development investment
China
Ltd.
An explanation for the shareholding ratio differing from the share of the voting rights in the subsidiaries:nil
The basis for holding half or below of the voting rights but still controlling the investee, and holding more than half of the voting
rights but not controlling the investee:nil
The basis for important structured entities and controls which are included in the scope of consolidation:nil
The basis for determining the company as an agent or as a principal:nil
Other explanation: nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(2) Major non-wholly-owned subsidiary: nil
(3) Main financial information of the major non-wholly-owned subsidiary: nil
(4) Major restriction on using the group’s assets and paying off debts for the group: nil
(5) Financial and other supports provided to the structured entity that included in consolidate financial
statement scope: nil
2. Changes in the owner's equity share of the subsidiary and the transaction is still controlled subsidiary
(1)Changes in owners’ equity in subsidiary: nil
(2)Impact on minority shareholders’ equity and owners’ equity attributable to parent company from the
transaction: nil
3. Equity in arrangement of joint venture or associated enterprises
(1)Major joint venture or associated enterprise: nil
(2)Financial information of the major joint venture: nil
(3)Financial information of the major associated enterprise: nil
(4)Summary of financial information for un-important joint venture and associated enterprise: nil
(5)Explanation of the major restriction on the ability of transferring funds to the Company from joint
venture or associated enterprise: nil
(6)Excess loss from joint venture or associated enterprise: nil
(7)Unconfirmed commitments related to joint venture investment: nil
(8)Contingent liabilities relating to the investment in joint venture or associated enterprise: nil
4. Important common management: nil
5. Equity in structured entities not included in the consolidated financial statements: nil
6. Other
X. Risks related to financial instruments
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
XI. Fair value disclosures
1. Ending fair value of the assets and liabilities measured by fair value: nil
2. Recognized basis for the market price sustaining and non-persistent measured by fair value on
first-order: nil
3. The qualitative and quantitative information for the valuation technique and critical parameter that
sustaining and non-persistent measured by fair value on second-order: nil
4. The qualitative and quantitative information for the valuation technique and critical parameter that
sustaining and non-persistent measured by fair value on third-order: nil
5. Sensitivity analysis of non-observable parameters and adjustment information between the opening book
value and ending book value that sustaining measured by fair value on third-order: nil
6. If there are conversion between different orders that sustaining measured by fair value, explain the
conversion cause and policy of determining the time point for conversion: nil
7. The valuation technical change and reasons occurred in the period: nil
8. The fair value of financial assets/liabilities that not measured under the fair value: nil
9. Other: nil
XII. Related parties and related-party transactions
1. Parent company
Registered
Registere Nature of Shareholding ratio in the
Parent company Voting ratio in the Company
d place Business Capital
Company
Haikou Plant and 1151.51 million
Luoniushan Co., Ltd. 17.55% 19.80%
City culturing Yuan
Note:
As of 30 June 2019, Luoniushan Co., Ltd. (hereinafter referred to as Luoniushan) and its wholly-owned subsidiary Hainan Ya’anju
Property Service Co., Ltd. holds 72.092 million shares of the Company under A-stock, totally takes 19.80% in total share capital of
the Company, and it is the first largest shareholder of the Company.
Ultimate controlling party of the Company is Luoniushan Co., Ltd.
Other explanation: nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
2. Subsidiary of the Enterprise
Found more in Notes
3. Joint venture and associated enterprise: nil
4. Other related party: nil
5. Related transaction
(1)Transaction with goods purchasing ,labor service offering/receiving concerned
Purchasing goods/received labor service: nil
Sales of goods/provided labor service:
In RMB/CNY
Related party Content Current period Last period
Luoniushan Co., Ltd. Room and meal charge 125,150.00 176,779.00
Explanation: nil
(2)Associated trusteeship management/contract and trusteeship/outsourcing: nil
(3)Related-party lease: nil
(4)Related-party guarantee: nil
(5)Related-party funds lending: nil
(6)Related-party asset transfer and debt restructuring: nil
(7)Key management compensation: nil
(8)Other related transactions: nil
6. Related party’s account receivable/payable
(1)Receivable
In RMB/CNY
Ending balance Beginning balance
Item Related party Provision for bad Provision for bad
Book balance Book balance
debt debt
Account
Luoniushan Co., Ltd. 6,387.00 13,153.00
receivable
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(2)Payable: nil
7. Related party’s commitment
8. Other
XIII. Share-based payment
1. Share-based payment
□Applicable√Not applicable
2. Settled by equity
□Applicable√Not applicable
3. Settled by cash
□Applicable√Not applicable
4. Modification and termination of share-base payment
5. Other
XIV. Commitments and contingencies
1. Material commitments
Major commitments on balance sheet date
The Company has no commitments that need to disclosed up to balance sheet date
2. Contingencies
(1) Major contingencies on balance sheet date
On May 26,2016 ， the Company received lawyer’s letter of Hainan Yunfan law firm which is entrusted by Hainan
Power Grid Co., LTD Sanya Power Supply Bureau (hereinafter referred to as the "Sanya Power Supply Bureau"),
the letter claims that Sanya Power Supply Bureau found that the Company’s subsidiary South China Grand Hotel
of Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd’s the amount of CT is different with its marketing
management system record. The inconformity time is July, 2006, and the hotel’s CT is changing on April, 2016.
Therefore, undercounted electricity consumption amount is 10,313,373.00 kilowatt-hours, and estimated cost is
7,200,165.75 Yuan as various electricity prices and charges.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(2) For no major contingencies disclosed, explain reasons
The Company has no major contingencies should be disclosed
3. Other
XV. Event after balance sheet date
1. Major non-adjustment events: nil
2. Profit distribution: nil
3. Sales return: nil
4. Explanation on other events after balance sheet date: nil
XVI. Other significant events
1. Correction of accounting errors in previous periods: nil
2. Debt reorganization
3. Assets exchange
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(1)Non-monetary assets exchange
(2)Other assets exchange
4. Annuity plan
5. Termination of operation: nil
6. Segment information
(1)Basis of determination and accounting policy for the reportable segment
(2)Financial information of reportable segment: nil
(3)Where there is no reportable segment, or the total assets and liabilities for such segment can not be
released, the reasons shall be explained
(4)Other explanation
7. Major trading and items shows influence on investors’ decision-making
8. Other
In accordance with the requirements of the Regulatory Guidelines of Listed Companies No. 4 - Actual Controller,
Shareholders, Related Parties, Purchaser and Commitments and Fulfillment of Listed Companies (CSRC
Announcement No. [2013] 55) of China Securities Regulatory Commission, on June 7, 2014, Luoniushan Co., Ltd.
(hereinafter referred to as “Luoniushan”) sent out the Letter about Changing the Commitments of Luoniushan Co.,
Ltd. to Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd. to the Company, and made commitments that
Luoniushan shall actively seek reorganization party to reorganize the assets of Dadonghai within three years from
the date the Company’s general meeting of shareholders considered and approved this commitment. The above
matters have been considered and approved by the general meeting of shareholders of Dadonghai on June 27,
2014.
On February 22, 2017, the Company received from Luoniushan a Letter on Progress in the Planning of
Commitment Implementation, in which Luoniushan intended to transfer 100% of the equity it held in the
Industrial Company, a wholly-owned subsidiary (specifically, the Industrial Company will first be transferred
with part of financial assets equity held by Luniushan and of 6.91% equity of Sanya Rural Commercial Bank Co.,
Ltd.) to the Company, the transaction was made in cash with transaction amount of about RMB300 million. The
proposal was not adopted at the 11th extraordinary meeting of the eighth board of directors of the Company due to
the Company's lack of sufficient debt repayment ability.
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
On June 23, 2017, Luoniushan issued to the Company a Letter on Change in Term of Commitment by
Luoyunshan Co., Ltd. to Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd., extending Luoniushan's
performance period of the above restructuring commitment of the Company by 6 months, whichmeans the
deadline for the fulfillment of reorganization commitment was changed to December 27, 2017.As the
reorganization would take a certain amount of time, on November29, 2017, Luoniushan again applied to extend
the performance period of the reorganization commitment for two years, that is, the performance deadline of the
reorganization commitment was changed from December 27, 2017 to December 26, 2019, which was not
approved at the fourth extraordinary general meeting of shareholders of the Company in 2017.
XVII. Note on financial statement of parent company
1. Accounts receivable
(1)Disclosure of account receivables by category
In RMB/CNY
Ending balance Beginning balance
Provision for bad Provision for bad
Book balance Book balance
Category debt debt Book
Book value
Accrual Accrual value
Amount Ratio Amount Amount Ratio Amount
ratio ratio
Accounts
receivable
with
provision for
bad debts
based on
single item
Accounts
receivable
with
provision for 230,062.48 100.00% 74,075.60 32.20% 155,986.88 500,510.47 100.00% 74,075.60 14.80% 426,434.87
bad debts
based on
portfolios
Total 230,062.48 100.00% 74,075.60 32.20% 155,986.88 500,510.47 100.00% 74,075.60 14.80% 426,434.87
If the bad debt provision of receivable are accrual on general model of expected credit losses, relevant bad debt provision should
released reference to the disclosure methods for other account receivable:
□Applicable√Not applicable
Released by account age
In RMB/CNY
115
司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Account age Ending balance
Within 1 year (inclusive) 139,108.68
1-2 years 566.00
2-3 years 785.00
3-4 years 18,633.00
4-5 years 3,397.00
Over 5 years 67,572.80
Total 230,062.48
(2)Provision, reversal or recovery of provision for bad debts in the period
Provision for bad debt in the period
In RMB/CNY
Amount changed in the period
Beginning
Category Reversal or Ending balance
balance Accrual Charge off
switch-back
Based on portfolios 74,075.60 74,075.60
Total 74,075.60 74,075.60
Including the major amount that reversal or switch-back in the period: nil
(3)Account receivable actually charge off in the period: nil
(4)Top five accounts receivable in terms of ending balance collected by the debtor
Name Relationship with Book balance Account age Proportion in total amount of
the Company accounts receivable(%)
Shanghai Hecheng International Travel Non-related party 35,788.40 Within 1 year 15.56%
Service Co., Ltd.
Yangpu Huayu Road and Bridge Non-related party 18,633.00 Over 5 years 8.10%
Technology Co., Ltd.
Guangzhou Institute of Design Non-related party 38,980.00 Over 5 years 16.94%
Shenzhen Tenpay Technology Co., Ltd. Non-related party 46,621.46 Within 1 year 20.26%
Tianjin Watermelon Tourism Limited Non-related party 24,414.82 Within 1 year 10.61%
Liability Company
Total 164,437.68 71.47%
(5)Account receivable that at terminated due to the financial assets transfer
(6)Assets and liabilities resulted by account receivable transfer and continues involvement : nil
Other explanation: nil
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
2. Other account receivable
In RMB/CNY
Item Ending balance Beginning balance
Other account receivable 1,242,181.64 458,242.73
Total 1,242,181.64 458,242.73
(1) Interest receivable
1) Category: nil
2) Significant overdue interest: nil
3)Provision for bad debt
□Applicable√Not applicable
(2) Dividend receivable
1)Category: nil
2)Significant dividend receivable with over one year account age: nil
3)Provision for bad debt
□Applicable√Not applicable
(3)Other account receivable
1)Released by nature
In RMB/CNY
Nature Ending book balance Opening book balance
Utility bills 206,254.34 185,368.69
Petty cash 838,955.14 133,411.23
Attorney fee 77,534.25 77,534.25
Social insurance and housing provident
57,803.91 63,264.56
funds
Deposit 600.00 600.00
Court cost 62,970.00
Total 1,244,117.64 460,178.73
2)Provision for bad debt: nil
Change of the book balance for major amount changed in loss provision
□Applicable√Not applicable
Released by account age
In RMB/CNY
Account age Ending balance
Within 1 year (inclusive) 1,241,881.64
4-5 years 600.00
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Over 5 years 1,636.00
Total 1,244,117.64
3)Provision, reversal or recovery of provision for bad debts in the period
Provision for bad debt in the period
In RMB/CNY
Amount changed in the period
Category Beginning balance Ending balance
Accrual Reversal or switch-back
Based on portfolios 1,936.00 1,936.00
Total 1,936.00 1,936.00
Including major provision for bad debt reversal or switch-back in the period: nil
4)Other account receivable actually charge off in the period: nil
5)Top five other accounts receivable in terms of ending balance collected by the debtor
In RMB/CNY
Proportion in total Ending balance of
Account
Name Nature Ending balance amount of other accounts provision for bad
age
receivable at period-end debt
Within 1
Wen Ping Petty cash 710,000.00 57.07% 0.00
year
Hainan New Concept Within 1
Attorney fee 77,534.25 6.23% 0.00
Law Firm year
Within 1
Peng Guoxing Utility bills 70,422.98 5.66% 0.00
year
Sanya Suburbs People’s Within 1
Court cost 62,970.00 5.06% 0.00
Court year
Within 1
Guo Yubo Petty cash 60,369.61 4.85% 0.00
year
Total -- 981,296.84 -- 78.88% 0.00
6)Account receivables related to government subsidies: Nil
7)Other receivable for termination of confirmation due to the transfer of financial assets: Nil
8)The amount of assets and liabilities that are transferred other receivable and continued to be involved: Nil
3. Long-term equity investment
In RMB/CNY
Ending balance Beginning balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for
1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00
subsidiary
Total 1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
(1)Investment for subsidiary
In RMB/CNY
Increase Decrease Impairment Ending balance of
Invested Beginning Ending
in the in the provision in current impairment
enterprise balance balance
period period period provision
Hainan Wengao
Tourist Resources
1,000,000.00 1,000,000.00
Development Co.,
Ltd.
Total 1,000,000.00 1,000,000.00
(2)Investment for joint venture and associated enterprise: nil
(3)Other explanation: nil
4. Operating income and cost
In RMB/CNY
Current period Last period
Item
Income Cost Income Cost
Main business 14,241,961.04 5,514,477.93 16,173,929.32 6,000,063.36
Total 14,241,961.04 5,514,477.93 16,173,929.32 6,000,063.36
Whether the new revenue standards been implemented
□Yes √No
Other explanation: nil
5. Investment income: nil
6. Other
XVIII. Supplementary information
1. Details of current non-recurring profits and losses
√Applicable□Not applicable
In RMB/CNY
Item Amount Note
Other 160,030.46 Clean up the long-term unpaid payable
Total 160,030.46 --
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
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
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
2. Return on equity (ROE) and earnings per share (EPS)
Earnings per share
Weighted
Profit during the reporting period Basic Diluted
average ROE
EPS(RMB/Share) EPS(RMB/Share)
Net profits attributable to ordinary shareholders of the
0.97% 0.0021 0.0021
Company
Net profits attributable to ordinary shareholders of the
Company after deduction of non-recurring profits or 0.76% 0.0016 0.0016
losses
3. Accounting difference between IFRS and CAS
(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)
□Applicable√Not applicable
(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)
□Applicable√Not applicable
(3)Explanation on data differences under the accounting standards in and out of China; as for the
differences adjustment audited by foreign auditing institute, listed name of the institute
4. Other
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司公限有份股心中游旅海东大南海 2019 文全告报度年半年
Section XI. Documents available for references
I. Text of Semi-Annual Report 2019 with signature of the legal person;
II. Financial statement with signature and seal of legal person, person in charge of accounting works and person in
charge of accounting organ (accountant in charge);
III. The original manuscripts of all documents and announcements of the Company publicly disclosed on website
appointed by CSRC;
IV. Other relevant documents
The above said documents are prepared in the security department of the Company
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Chairman: Yuan Xiaoping
8 August 2019
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