深圳中华自行车(集团)股份有限公司 2017 年半年度报告摘要
Shenzhen China Bicycle Company (Holdings) Limited
Summary of Semi-Annual Report 2017
I. Important Notice
The summary is abstract from full-text of semi-annual report, for more details of operating results, financial condition and future
development plan of the Company; investors should found in the full-text of semi-annual report that published on media appointed
by CSRC.
Objection statement of directors, supervisors and senior executives
Name Position Content and reason
Statement
Other directors attending the Meeting for semi-annual report deliberation except for the followed
Name of director absent Title for absent director Reasons for absent Attorney
Prompt of non-standard audit opinion
□ Applicable √ Not applicable
Profit distribution pre-plan of common stock or capitalizing of common reserves pre-plan deliberated by the Board in the reporting
period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve.
Profit distribution pre-plan of preferred stock deliberated and approved by the Board in the reporting period
□ Applicable √ Not applicable
II. Company profile
1. Company Profile
Zhonghua – A, Zhonghua
Short form of the stock Stock code 000017、200017
-B
Stock exchange for listing Shenzhen Stock Exchange
Person/Way to contact Secretary of the Board Rep. of security affairs
Name Sun Longlong Cui Hongxia
Room 1201, Wantong Building, No.3002, Room 1201, Wantong Building, No.3002,
Office add.
Sungang East Road, Shenzhen Sungang East Road, Shenzhen
Tel. 0755-25516998,28181666 0755-25516998,28181666
E-mail dmc@szcbc.com dmc@szcbc.com
1
深圳中华自行车(集团)股份有限公司 2017 年半年度报告摘要
2. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √ No
Increase/decrease in this
Current period Same period of last year
report y-o-y
Operating revenue (RMB) 48,929,676.27 65,774,013.33 -25.61%
Net profit attributable to shareholders of
-1,691,378.44 448,356.29 -477.24%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting -1,902,819.26 193,927.51 -1,081.20%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
-8,806,042.23 -4,748,614.78 85.44%
activities (RMB)
Basic earnings per share (RMB/Share) -0.0031 0.0008 -487.50%
Diluted earnings per share (RMB/Share) -0.0031 0.0008 -487.50%
Weighted average ROE -12.51% 3.74% -16.25%
Increase/decrease in this
End of current period End of last period report-end over that of
last period-end
Total assets (RMB) 48,954,777.06 54,088,275.72 -9.49%
Net assets attributable to shareholder of
12,677,305.14 14,368,683.58 -11.77%
listed company (RMB)
3. Number of shares and shares held
In Share
Total preference
shareholders with voting
Total common stock shareholders
56,305 rights recovered at end of 0
in reporting period-end
reporting period (if
applicable)
Top ten shareholders
Number of share
Proportion
Full name of Nature of Shareholdin Amount of restricted shares pledged/frozen
of shares
Shareholders shareholder g numbers held State of
held Amount
share
Shenzhen Domestic
Guocheng non-State-ow
11.52% 63,508,747 0 Pledged 11,000,000
Energy ned legal
Investment person
2
深圳中华自行车(集团)股份有限公司 2017 年半年度报告摘要
Development
Co., Ltd.
UOB Koy
Hian (Hong Foreign legal
2.89% 15,907,850 0 0
Kong) Co., person
Ltd.
Guosen
Securities
Foreign legal
(Hong Kong) 2.54% 13,988,425 0 0
person
brokerage
Co., Ltd.
Shenwan
Hongyuan
Foreign legal
Securities 1.10% 6,043,657 0 0
person
(Hong Kong)
Co., Ltd.
Zhongrong
International
Trust Co.,
Ltd. – ZR- DF
No.13
Other 0.87% 4,770,923 0 0
Structured
Stock
Collection
Fund Trust
Plan
Zhongrong
International
Trust Co.,
Ltd. – ZR- DF
No.14
Other 0.83% 4,547,797 0 0
Structured
Stock
Collection
Fund Trust
Plan
Domestic
Li Huili 0.71% 3,891,124 0 0
nature person
CMB (H.K.) State-owned
0.68% 3,767,235 0 0
Limited legal person
Zhongrong
International
Trust Co.,
Ltd. – ZR- DF
No.12
Other 0.67% 3,721,600 0 0
Structured
Stock
Collection
Fund Trust
Plan
Domestic
Zong Bin 0.58% 3,187,180 0 0
nature person
Li Huili, spouse of the Ji Hanfei, the actual controller of first majority shareholders of the
Explanation on associated Company- Shenzhen Guosheng Energy Investment Development Co., Ltd., holding B-share of
relationship among the the Company on behalf of Shenzhen Guocheng Energy Investment Development Co., Ltd.,
beyond that, the Company has no idea of whether other circulated shareholders belong to
aforesaid shareholders concerted action persons ruled in the Administration Norms for Information Disclosure of
Change on Shareholding of Shareholders of Listed Companies.
Shareholders involving margin
N/A
business (if applicable)
3
深圳中华自行车(集团)股份有限公司 2017 年半年度报告摘要
4. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
√Applicable □ Not applicable
Name of new controlling shareholder No controlling shareholder
Date of change 2017-02-20
Inquiry index on appointed website 2016 Annual Report in Juchao website
Disclosure date on appointed website 2017-04-27
Changes of actual controller in reporting period
√Applicable □ Not applicable
Name of new actual controller No actual controller
Date of change 2017-02-20
Inquiry index on appointed website 2016 Annual Report in Juchao website
Disclosure date on appointed website 2017-04-27
5. Total preferred stock shareholders of the Company and shares held by top ten shareholders with
preferred stock held
□ Applicable √ Not applicable
No preferred stock in reporting period.
6. Corporation Bonds
Whether the Company has a corporation bonds that issuance publicly and listed on stock exchange and without due on the date when
annual report approved for released or fail to cash in full on due
No
III. Discussion and analysis by the Management Team
1. Introduction of operation in the reporting period
Dose the Company need to comply with disclosure requirements of the special industry
No
In 2017, the international political and economic situation was complicated and severe, the domestic economic development faced
many difficulties and challenges the deep-seated problems were still prominent, and there were many unstable and uncertain factors,
which affected and impacted the traditional manufacturing industry and social consumption structure demand. Under the leadership
of the central government and the governments at all levels, people of the whole country made great efforts to overcome difficulties,
forged ahead and realized the steady progress of economic and social development, and constantly made new achievements.
As a sector in the traditional manufacturing field, the bicycle industry continued the dilemma of rise in labor costs, manufacturing
costs, capital costs, and material costs. The rather low threshold for entering the industry and many manufacturers resulted in the
fierce market competition and intensifying industry reshuffle. The bicycle sharing brands such as Mobike and ofo have obtained large
amount of financing and rapid promotion, but also further digested the user's demand, and squeezed the market space of traditional
bicycle enterprises. At the same time, as a sector in the traditional manufacturing field, the bicycle industry has also ushered in the
“Made in China 2025” strategy, under the guidance of the basic principles of “driven by innovation, quality first, green development,
structural optimization, based on talents”, accelerate the important opportunity challenges of transformation and upgrading, faced the
important opportunity challenges of e-commerce development to channel impact, channel integration and internet +, along with the
4
深圳中华自行车(集团)股份有限公司 2017 年半年度报告摘要
development of cycling culture in China, China's bicycle market shall form a new space for development. In this context, in 2017, the
company combined with the actual situation of weak economic foundation after restructuring, on the one hand, adhered to taking the
traditional business model development as the principle, strengthened the product development efforts, and constantly optimized and
adjusted the product structure and sales model transformation, according to the e-commerce transformation of business team and the
cost control way of internal introduction and external connection, actively expanded the e-commerce business model, and achieved
the good development and rapid growth of e-commerce retail business; on the one hand, strived to promote the selection work of the
company's restructuring, planned the non-public offering of shares, and started the business upgrades and connection work of the
offline sales platform for sports experience and R & D center construction projects.
As for the planning of non-public offering of shares, in July 2016, the company started planning the non-public offering of shares,
and raised funds for the purchase of major assets; the company's Board of Directors considered and approved the Plan for Non-public
Offering of A Shares in 2016. On the basis of the due diligence, audit evaluation and commercial negotiation of the intermediary
institution, and combined with the actual situation of the capital market and the company, in February 2017, the Board of Directors of
the company considered and approved the Proposal on Adjusting the Company's Non-public Offering of A Shares, the Plan for
Non-public Offering of A Shares in 2016 (Revision) and so on. According to the revision of the plan, the total amount of this private
placement was no more than 1.2 billion Yuan, after deducting the issue costs, the company planned to invest 800 million Yuan of
funds for the “intelligent community building talk-back equipment and system platform construction project”, and invest 400 million
Yuan of funds for the "sports experience online and offline sales platform and R & D center construction project”. In May 2017, the
Board of Directors of the Company examined and approved the Proposal on Adjusting the Scheme of Non-Public Offering of Shares
by the Company. According to the plan revision, the total amount of raised funds for this non-public offering should not exceed RMB
800 million, after deducting the issuance expenses, the company planned to invest RMB 660 million of funds for “online and offline
marketing network platform construction and upgrading project”, and planned to invest RMB 140 million of funds for “R & D center
construction project”. On June 19, 2017, the company convened the second extraordinary general meeting of shareholders in 2017
which approved the aforesaid proposal on non-public offering of shares.
As for the business operation and management, in 2017, the company focused on the following aspects: First is to make every
endeavor to maintain the company's existing traditional business operation mode. Second is to promote the development of
e-commerce business model on the basis of traditional model, combine with the actual situation of the company, learn from the
experience of the successful e-commerce examples, and follow the principle of efficiency and benefits to design and implement the
company's team e-commerce transformation and the e-commerce business development ideas of internal introduction, external
connection and controllable costs. On the basis of completing the initial e-commerce development layout of bicycle business and the
team training construction, EMMELLE flagship store has achieved good brand propaganda effect and e-commerce retail business
development momentum and business efficiency with the help of Tmall, Jingdong, VIP, Suning, Gome, official website, official
wechat, HHLME and other e-commerce platforms, the sustainable development ideas of e-commerce business have been verified and
implemented. Third is to continue to increase the promotion and the research and development efforts to the medium- and high-end
products, continue to introduce new products according to market changes, actively apply new technologies, closely track the
cutting-edge innovative technology and exploration applications like the intelligentization of smart helmet electric car with
super-capacitor battery, and constantly improve and extend the product lines. Fourth is to start the business upgrades and
convergence work at the earlier stage of sports experience online and offline sales platform and R & D center construction project,
and strive to upgrade the sales and research and development capabilities. Fifth is to improve the support level of background
departments to front desk business by strengthening the background management and office automation. Sixth is to actively carry out
the business while the company seriously cooperates with the manager to carry out the unaccomplished matter related to
reorganization procedures.
While the domestic traditional manufacturing industry was still in depressed, the company insisted on following the guidelines of
5
深圳中华自行车(集团)股份有限公司 2017 年半年度报告摘要
“Made in China 2025” to accelerate its own professionalization transformation, e-commerce transformation, manufacturing
miniaturization transformation and others, strengthen the adjustment of product structure, enhance the quality management,
strengthen the cost control, and strive to enhance the traditional enterprises’ abilities to adapt to the economy new normal and
participate in the market competition. In first half year of 2017, the company achieved operating income of 48.9297 million Yuan, net
profit of -2,127,300 Yuan, and the net profit attributable to the shareholders of listed company of -1,691,400 Yuan.
2. Relevant items involving financial report
(1) Particulars about the changes in aspect of accounting policy, estimates and calculation method
compared with the financial report of last fiscal period
√Applicable □Not applicable
Content and reasons Approval procedures Note
Pursuant to the notice issued by the Ministry of Finance
Impact of this change of accounting
on 10 May 2017 relating to issuance of the amended
policies in our consolidated financial
No.16 of Enterprise Accounting Standards –
statement is the change of accounting
Government Grant (No. CK[2017]15), government
item for government grant: government
grant associated with a company’s normal operation
grant related to our normal operation
shall be recorded in “other income” or used to offset
shall be recorded as “other income” and
relevant cost expenses based on economic substance;
reported separately under the item of
government grant not associated with a company’s
“operating profit” in profit statement.
normal operation should be recognized as 2nd Meeting of 10th BOD
These adjustments are only made to the
non-operating income or expense. These provisions
reporting items and structure of profit
have come into effect since 12 June 2017. Government
statement, with no impact on the
grants existed as at 1 January 2017 shall be accounted
Company’s profit for the period or
for under prospective application method, and those
shareholders’ interests, no impact on our
new government grants increased between 1 January
financial condition and operating results
2017 and the date when the new provision came into
and no involvement of the retrospective
effect are subject to adjustments under the new
adjustment for the previous years.
government grant standards.
(2) Major accounting errors within reporting period that needs retrospective restatement
□ Applicable √ Not applicable
No major accounting errors within reporting period that needs retrospective restatement for the Company in reporting period.
(3) Particulars about the change of consolidation range compared with the financial report of last fiscal
period
□ Applicable √ Not applicable
The Company had no particular about the change of consolidation range compared in reporting period.
6
