Short Form of the Stock: ST Donghai-A, ST Donghai-B Stock Code: 000613, 200613
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 2014
(Full Text)
Disclosure Date: 28 August 2014
司公限有份股心中游旅海东大南海 2014 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.
All directors are attended the Board Meeting for report deliberation.
The Company has no plans of cash dividend distributed, no bonus shares and has no share
converted from capital reserve either.
Li Yuanbin, principal of the Company, Chen Liurong, person in charger of accounting works
and Liu Xianghai, person in charge of accounting organ (accounting principal) hereby confirm
that the Financial Report of Semi-Annual Report 2014 is authentic, accurate and complete.
Concerning the forward-looking statements with future planning involved in the Semi-Report,
they do not constitute a substantial commitment for investors. Investors are advised to exercise
caution of investment risks.
Content
Semi-Annual Report 2014 ...................................................................................................................1
Section I Important Notice, Contents and Paraphrase .........................................................................2
Section II Company Profile..................................................................................................................5
Section III Accounting data and summary of finnaical indexes ..........................................................7
Section IV Report of the Board of Directors .......................................................................................9
Section V Important Events ...............................................................................................................15
2
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section VI Changes in shares and particular about shareholders ......................................................20
Section VII Preferred Stock…………………………………………………………………… …..24
Section VIII Directors, Supervisors and Senior Executives .............................................................25
Section IX Financial Report...............................................................................................................26
Section X Documents Available for Reference ................................................................................91
3
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Paraphrase
Items Refers to Definition
CSRC Refers to China Securities Regulation Commission
SSE Refers to Shenzhen Stock Exchange
Company Law Refers to Company Law of The People’s Republic of China
Securities Law Refers to Securities Law of The People’s Republic of China
Company/the Company Refers to Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Article of Association of Hainan Dadonghai Tourism
Article of Association Refers to
Centre (Holdings) Co., Ltd.
Shareholders’ General Meeting of Hainan Dadonghai
Shareholders’ General Meeting Refers to
Tourism Centre (Holdings) Co., Ltd.
Board of Directors of Hainan Dadonghai Tourism Centre
Board of Directors Refers to
(Holdings) Co., Ltd.
Supervisory Committee of Hainan Dadonghai Tourism
Supervisory Committee Refers to
Centre (Holdings) Co., Ltd.
Yuan Refers to RMB/CNY
Risk Warning
Securities Times, Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) are the
media for information disclosure appointed by the Company for year of 2014, 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.
4
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section II Company profile
I. Company Profile
Short form for share ST Donghai-A , ST Donghai-B Code for share 000613, 200613
Short form for share after
N/A
the change
Listing stock exchange Shenzhen Stock Exchange
Chinese name of the
Company
司公限有份股心中游旅海东大南海
Abbr. of Chinese name of
the Company
海东大
English name of the
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Company
Abbr. of English name of
DADONGHAI
the Company
Legal Representative Li Yuanbin
II. Contact person and ways
Secretary of the Board Rep. of securities affairs
Name Wang Hongjuan
Contact adds. Dadonghai Sanya
Tel. 0898-88219921
Fax. 0898-88214998
E-mail hnddhhn@21cn.com
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found more details in Annual Report 2013.
5
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation
place for semi-annual report have no change in reporting period, found more details in Annual Report 2013.
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of taxation registration and
organization code have no change in reporting period, found more details in Annual Report 2013.
6
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed
and accounting error correction or not
□Yes √ No
Same period of Increase/decrease in this report
Current period
last year y-o-y
Operating revenue (RMB) 11,686,452.00 14,778,787.50 -20.92%
Net profit attributable to shareholders of the listed
-848,458.96 -481,971.51 76.04%
company(RMB)
Net profit attributable to shareholders of the listed company
-907,687.13 -556,917.86 62.98%
after deducting non-recurring gains and losses(RMB)
Net cash flow arising from operating activities(RMB) 14,916.68 2,947,494.11 -99.49%
Basic earnings per share (RMB/Share) -0.0023 -0.0013 76.92%
Diluted earnings per share (RMB/Share) -0.0023 -0.0013 76.92%
Weighted average ROE (%) -1.04% -0.57% 82.46%
Increase/decrease in this
End of current
End of last period report-end over that of last
period
period-end
Total assets (RMB) 111,010,305.89 113,960,862.69 -2.59%
Net assets attributable to shareholder of listed
81,063,388.90 81,911,847.86 -1.04%
company(RMB)
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
√Applicable □Not applicable
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP -848,458.96 -481,971.51 81,063,388.90 81,911,847.86
7
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Items and amount adjusted by IAS
By IAS -848,458.96 -481,971.51 81,063,388.90 81,911,847.86
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
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP -848,458.96 -481,971.51 81,063,388.90 81,911,847.86
Items and amount adjusted by foreign accounting rules
By foreign accounting rules -848,458.96 -481,971.51 81,063,388.90 81,911,847.86
3. Reasons for the differences of accounting data under accounting rules in and out of China
No differences.
III. Items and amounts of extraordinary profit (gains)/loss
√Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
-1,339.59 --
write-off that accrued for impairment of assets)
Other gains/losses satisfied definition of extraordinary profit
60,567.76 --
(gains)/loss
Total 59,228.17 --
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
8
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section IV. Report of the Board of Directors
I. Introduction
In reporting period, due to the slowing down domestic economy growth and deepening and lasting macro adjustment, Sanya had
been still fatigue in tourism market. Especially the number of Russian tourists decreased obviously. Facing this severe situation,
operational team of the Company positively responded, tried to be market-oriented, be in principle of reducing costs and increasing
efficiency and fully adjusted operational strategy. We changed our focus on from overseas market to domestic market, from
sightseeing to vacation tourism, from group to individual self-driving. Our operation has begun to focus on massification. At the
same time, we largely implemented fine and detailed management, specialized operation and fully made use of various online
platforms to promote online marketing. Hence, we overcame various unfavorable factors in order to keep stable development of the
Company.
II. Main business analysis
Y-o-y changes of main financial data
In RMB
Y-o-y
Same period of
Current period increase/dec Reasons for changes
last year
rease
The increasingly horizontal competition is the result of
Operation revenue 11,686,452.00 14,778,787.50 -20.92%
declined in revenue
Operation cost 5,336.51 5,091.20 4.82% The rising prices led to the slightly growth in cost
Sales expenses 5,924,967.97 5,866,274.92 1.00% Increased slightly normality
Entertainment expenses declined due to the strictly
Administrative expenses 5,961,388.09 8,568,614.42 -30.43% management and practice strict economy; withdrawal
for the bonus on over-quota of the hotel decreased
The revenue declined, and settlement handling charge
Financial cost 48,005.23 68,112.72 -29.52%
expenses decreased
Net cash flow arising from The revenue decreased due to the market depressed,
14,916.68 2,947,494.11 -99.49%
operation activities and the soaring cost
Net cash flow arising from
-159,200.00 -573,234.00 -72.23% The investment in fixed assets decreased
investment activities
Together affected by the y-o-y growth of net cash flow
Net increase of cash and cash arising from operation activities and the y-o-y
-144,283.32 2,374,260.11 -106.08%
equivalent decrease of net cash flow arising from investment
activities.
Major changes on profit composition or profit resources in reporting period
9
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period
The future development and planning extended to reporting period that published in disclosure documents as
prospectus, private placing memorandum and recapitalize statement
□ Applicable √ Not applicable
No future development and planning extended to reporting period that published in disclosure documents as
prospectus, private placing memorandum and recapitalize statement
Review on the previous business plan and its progress during reporting period
During the report period, under the leadership of the board of directors, the Company conforms to the national
regulation situation, actively responds to the complex and changeable market circumstances, persists in taking the
market demands as the guidance and the economic benefit as the core, positively adjusts the operating strategy,
not only consolidates the regular customers and stabilizes the existing markets, but also strengthens the
development efforts for new markets, the Company effectively overcomes the downturn in the tourism market and
other unfavorable factors, and basically completes the business objectives established at the beginning of the year.
III. Constitution of main business
In RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Operating
Operating cost Gross profit ratio operating revenue operating cost profit ratio over
revenue
over same period over same period same period of
of last year of last year last year
According to industries
Tourism &
11,686,452.00 5,336.51 99.95% -20.92% 4.82% -0.01%
catering
According to products
Guest room 11,686,452.00 5,336.51 99.95% -20.92% 4.82% -0.01%
According to region
Hainan Province 11,686,452.00 5,336.51 99.95% -20.92% 4.82% -0.01%
IV. Core competitive-ness analysis
In the reporting period, the Company’s core competitive-ness had no major changes, and more details can be
found in Annual Report 2013.
V. Investment analysis
1. Equity investment outside
(1) Investment outside
□ Applicable √ Not applicable
10
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
The Company has no investment outside in the Period
(2) Holding the equity of financial enterprise
√Applicable □Not applicable
Proportion
Shares Shares Proportion Gains/loss
Initial of shares Book value at
held at held at of shares es in report Accounti Resour
Name Type investment held at period-end
period-beg period-end held at period ng items ces
capital (RMB) period-beg (RMB)
in (Share) (Share) period-end (RMB)
in
Haikou
Long-ter
Luoniusha
m equity Purcha
n Other 10,000,000.00 10,000,000 9.09% 10,000,000 9.09% 10,000,000.00 0.00
investme se
Petty-Loan
nt
Co., Ltd
Total 10,000,000.00 10,000,000 -- 10,000,000 -- 10,000,000.00 0.00 -- --
(3) Securities investment
□ Applicable √ Not applicable
The Company has no securities investment in the Period
2. Trust financing, investment of derivatives and entrustment loan
(1) Trust financing
□ Applicable √ Not applicable
The Company has no trust financing in the Period
(2) Investment of derivatives
□ Applicable √ Not applicable
The Company has no derivatives investment in the Period
(3) Entrustment loan
□ Applicable √ Not applicable
The Company has no entrustment loan in the Period
3. Application of raised proceeds
(1)Overall application of raised proceeds
□ Applicable √ Not applicable
11
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
(2) Situation of committed project of raised proceeds
□ Applicable √ Not applicable
(3)The changed project of raised proceeds
□ Applicable √ Not applicable
The Company has no project of raised proceeds changed in the Period
(4) Project of raised proceeds
In reporting period, the Company has no raised proceeds or utilization of raised proceeds in previous that carry over into the Period
4. Main subsidiaries and joint-stock companies analysis
□ Applicable √ Not applicable
No main subsidiaries or joint-stock companies in Period.
5. Major project invested by non-raised funds
□ Applicable √ Not applicable
No major project invested by non-raised funds in Period.
VI. Prediction of business performance from January – September 2014
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
warning of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable √ Not applicable
VII. Explanation from the Board and Supervisory Committee for “Qualified Opinion” from
the CPA of this year’s
□ Applicable √ Not applicable
VIII. Explanation on “Qualified Opinion” of previous year from the Board
□ Applicable √ Not applicable
IX. Implementation of profit distribution in reporting period
Implementation or adjustment of profit distribution plan in reporting period, cash dividend plan and shares converted from capital
reserve in particular
□ Applicable √ Not applicable
Previous year’s profit distribution plan was no profit distribution and shares converted from capital reserve either
12
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
X. 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
XI. In the report period, reception of research, communication and interview
√Applicable □Not applicable
Time Place Way Type Reception Contents discussed and material provided
Company Telephone Investor in
Operation situation of the Company, no
2014-01-08 headquarter communicat Individual Shanghai
material provided
s ion (Surname Chen)
Company Telephone Investor in
Restriction lifted of share reforming, no
2014-01-16 headquarter communicat Individual Beijing
material provided
s ion (Surname Wang)
Company Telephone
Investor in Hefei Operation situation of the Company, no
2014-02-10 headquarter communicat Individual
(Surname Lv) material provided
s ion
Company Telephone
Investor in Hebei Operation situation of the Company, no
2014-02-18 headquarter communicat Individual
(Surname Liu) material provided
s ion
Company Telephone Investor in
Operation situation of the hotels, no material
2014-03-19 headquarter communicat Individual Hangzhou
provided
s ion (Surname Zhang)
Company Telephone Investor in
Operation situation of the Company in the
2014-03-25 headquarter communicat Individual Beijing
year, no material provided
s ion (Surname Chen)
Company Telephone Investor in
Development of the Company, no material
2014-04-10 headquarter communicat Individual Shenzhen
provided
s ion (Surname Zheng)
Company Telephone Investor in
Disclosure date of Annual Report 2013 of the
2014-04-18 headquarter communicat Individual Wuhan
Company, no material provided
s ion (Surname Cheng)
Company Telephone Investor in
Operation situation of the Company in 2013,
2014-04-25 headquarter communicat Individual Shenzhen
no material provided
s ion (Surname Yang)
Company Telephone Investor in
Commitment of the largest shareholders of the
2014-05-21 headquarter communicat Individual Beijing
Company, no material provided
s ion (Surname Huang)
Company Telephone Investor in Development of the Company, no material
2014-05-30 Individual
headquarter communicat Zhengzhou provided
13
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
s ion (Surname Jiang)
Company Telephone Investor in
Commitment of the largest shareholders of the
2014-06-12 headquarter communicat Individual Haikou
Company, no material provided
s ion (Surname Lin)
Company Telephone Investor in
Operation situation of the Company in the half
2014-06-27 headquarter communicat Individual Shanghai
year of 2014, no material provided
s ion (Surname Zhou)
14
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section V. Important Events
I. Corporate governance
During the report period, the Company strictly follows the requirements of “Corporation Law”, "Securities Law",
"Listing Rules of Shenzhen Stock Exchange Stock ", and other relevant laws and regulations, establishes and
improves the corporate governance system, improves the corporate governance structure, and promotes the
company’s standard operation, there is no difference between the actual state of corporate governance and the
requirements of relevant provisions of China Securities Regulatory Commission.
In reporting period, the Board of Directors and Board of Supervisors started the personnel change. In accordance
with relevant rules of the Guidance to Supervise Listed Companies, No. 3- Cash Dividend of Listed Companies,
issued by China Securities Supervision Committee, and combining the actual situation, the Company revised part
of terms about profit distribution policy referred in the Article of Association. Shareholders’ General Meeting,
Board of Directors and Board of Supervisors respectively reinforced their decision rights, execution rights and
supervision rights. Rights and responsibilities were divided clearly, restrained mutually, operated normally and
effectively. Meeting procedures were totally in accordance with relevant rules. The Board of Directors strictly
followed requirements of the Rules of Listed Companies, being honest and diligent, being loyal to shareholders
and the Company, protecting medium and small shareholders’ rights and interests. The Board of Supervisors
effectively inspected and checked the personnel and finance of directors and senior administrative staff.
The Company will continue to improve the corporate governance, seriously fulfill the obligation of information
disclosure, strengthen the management to information disclosure, maintain the principle of fairness about the
information disclosure, strengthen the investor relations management, and protect the legitimate rights and
interests of all investors.
II. Significant lawsuits and arbitrations of the Company
□Applicable √Not applicable
The Company has no significant lawsuits and arbitrations in reporting period
III. Question from media
□ Applicable √ Not applicable
No universal questioned by media in reporting period
IV. Bankruptcy reorganization
□ Applicable √ Not applicable
In reporting period, the Company has no bankruptcy reorganization occurred.
15
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
V. Transaction in assets
1. Assets acquisition
□ Applicable √ Not applicable
The Company did not purchased assets in the Period
2. Sales of assets
□ Applicable √ Not applicable
The Company did not sell assets in the Period
3. Business combination
□ Applicable √ Not applicable
The Company has no business combined in the Period
VI. Implementation of the company’s equity incentive and the effects
□ Applicable √ Not applicable
No equity incentive in reporting period
VII. Insignificant related transactions
1. Related transaction with daily operation concerned
√Applicable □Not applicable
Proportio Available
Amount Settlemen
Pricing n to market
Type of Content Price of of related t method
principles amount of prices of Disclosur Index of
Related related of related related transactio
Related party of related transactio of related
relationship transactio transactio transactio n (10 similar e date disclosure
transactio n or the transactio
n n n thousand
n same type transactio
Yuan) n
(%) ns
Same as
Accomm the
First
Luoniushan Consumpt odations Market Market transactio
majority 5.19 0.44% -- -- --
Co., Ltd. ion and price price n with
shareholder
catering non-relate
d party
Total -- -- 5.19 -- -- -- -- --
Details of returned large sales N/A
Predict on total amount of daily related trade on
the way in this period according to classification, N/A
as well as actual implementation in reporting
16
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
period
Reason of the greater difference between trade
N/A
price and market reference price
2. Related transaction incurred by purchase or sales of assets
□ Applicable √ Not applicable
No related transaction incurred by purchase or sales of assets in Period
3. Related transaction from jointly investment outside
□ Applicable √ Not applicable
No related transaction from jointly investment outside occurred in Period
4. Credits and liability of related party
√Applicable □Not applicable
Whether exist non-operating contact of related credit and debt or not
√Yes □No
Balance of Amount of the
Whether exist Balance at
period-begin period
Related Type of credit and Resulted non-operation period-end (in
Related party (in 10 occurrence (in
relationship debt reason al capital 10 thousand
thousand 10 thousand
occupying Yuan)
Yuan) Yuan)
First
Debt payable to Correspondin
Luoniushan Co., Ltd majority Yes 80 0 80
related party g payment
shareholder
Influence on operation result and
financial statue of the Company from No influence
related credit and debts
5. Other significant related transactions
□ Applicable √ Not applicable
The Company had no other significant related transactions in the reporting period
VIII. 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
IX. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
17
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
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
The Company had no leasing in the reporting period.
2. Guarantee
□ Applicable √ Not applicable
The Company had no guarantee in the reporting period.
(1) Guarantee outside against the regulation
□ Applicable √ Not applicable
No guarantee outside against the regulation in Period
3. Other material contracts
□ Applicable √ Not applicable
The Company had no other material contracts in the reporting period.
4. Other material transactions
□ Applicable √ Not applicable
The Company had no other material transactions in the reporting period.
X. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or occurred in the previous reporting period but continued to
reporting period
√Applicable □Not applicable
Commitment Commitment
Commitments Accepter Contents Implementation
time period
Seeking
No appropriate
restructuring
Commitments for Luoniushan Co., restructuring
side actively for 2014-06-27 In 3 years
Share Merger Reform Ltd. side has been
assets
found so far.
reorganization
18
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Commitments in report of acquisition or
equity change
Commitments in assets reorganization
Commitments make in Initial public offering
or re-financing
Other commitments for minority shareholders
Implemented commitments on time(Y/N) N
Detail reasons for un-complement and further
N/A
plan
XI. Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□ Yes √ No
XII. Penalty and rectification
□ Applicable √ Not applicable
The Company had no penalty or rectification in the reporting period.
XIII. Risk disclosure of delisting with laws and rules violated
□ Applicable √ Not applicable
The Company has no delisting risks with laws and rules violated in Period
XIV. Explanation on other significant events
□ Applicable √ Not applicable
The Company had no explanation on other significant events in the reporting period.
19
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in shares
In share
Before change Increase/decrease in this time (+ , - ) After change
Capitali
zation
New Bonus
Amount Ratio of Other Subtotal Amount Ratio
issue share
public
reserve
I. Restricted shares 16,529,200 4.54% -994,000 -994,000 15,535,200 4.27%
1. State-owned shares
2. State-owned corporate
3,953,400 1.09% -924,000 -924,000 3,029,400 0.83%
shares
12,575,800 3.45% -70,000 -70,000 12,505,800 3.43%
3. Other domestic shares
Including: Domestic legal
12,373,800 3.40% 0 0 12,373,800 3.40%
person shares
Domestic natural person
202,000 0.06% -70,000 -70,000 132,000 0.04%
shares
II. Unrestricted shares 347,570,800 95.46% 994,000 994,000 348,564,800 95.73%
259,570,800 71.29% 994,000 994,000 260,564,800 71.56%
1. RMB common shares
2.Domestically listed
88,000,000 24.17% 88,000,000 24.17%
foreign shares
III. Total shares 364,100,000 100.00% 364,100,000 100.00%
Reasons for share changed
√Applicable □Not applicable
In the process of subsequent work of share-trading reform of the Company, according to relevant regulations the
release procedures were in process and part of the shareholders handling the payment of account paid in advance.
Thus, the share structure changes in the report period but retained the same in total share capital.
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changed
□ Applicable √ Not applicable
20
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to
common shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security
regulators
□ Applicable √ Not applicable
Explanation on changes in aspect of total shares, shareholders structures as well as structure of assets and liability
of the Company
□ Applicable √ Not applicable
II. Number of shares and shares held
In share
Total preference shareholders with voting
Total common shareholders at period-end 26,075 0
rights recovered at end of reporting period
Particulars about shares held above 5% by shareholders or top ten shareholders
Number of
share
Number of Changes pledged/froz
Amount of Amount of
Nature of Proportion of shares held in en
Shareholders restricted unrestricted
shareholder shares held at reporting State
shares held shares held
period-end period of Amou
shar nt
e
Domestic
Luoniushan Co., Ltd. non-state-owned 16.81% 61,190,270 0 0 61,190,270
legal person
Domestic nature
Pan Guoping 8.07% 29,396,791 -3632792 0 29,396,791
person
China Everbright Securities (HK) Overseas
6.63% 24,135,012 5927328 0 24,135,012
Limited legal person
Yangpu Tongrong Investment Domestic
Management Consultation Co., non-state-owned 2.79% 10,150,082 0 4,420,800 5,729,282
Ltd. legal person
Domestic
Sanya Yongli Investment Co., ltd. non-state-owned 1.77% 6,446,000 -484000 0 6,446,000
legal person
Domestic
Construction Investment CITIC
non-state-owned 1.27% 4,620,000 0 0 4,620,000
Assets Management Co., Ltd.
legal person
21
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Overseas
CITRINE CAPITAL LIMITED 0.90% 3,265,200 0 0 3,265,200
legal person
Domestic
Sanya Zhongxing Development
non-state-owned 0.70% 2,541,000 0 2,541,000 0
Co., Ltd.
legal person
Domestic
Sanya Rural Credit Cooperative non-state-owned 0.63% 2,310,000 0 0 2,310,000
legal person
Haikou Jinmao Branch of
State-owned
Agricultural Bank of China Co., 0.63% 2,310,000 0 0 2,310,000
corporation
Ltd.
Strategy investors or general corporate becomes top
N/A
10 shareholders due to rights issued
The Company is unknown whether there exists associated relationship or belongs
Explanation on associated relationship among the to the consistent actor regulated by the Management Measure of Information
aforesaid shareholders Disclosure on Change of Shareholding for Listed Company among the other
shareholders.
Particular about top ten shareholders with un-restrict shares held
Amount of unrestricted shares held at Type of shares
Shareholders
period-end Type Amount
Luoniushan Co., Ltd. 61,190,270 RMB common share 61,190,270
Domestically listed
Pan Guoping 29,396,791 29,396,791
foreign share
Domestically listed
China Everbright Securities (HK) Limited 24,135,012 24,135,012
foreign share
Sanya Yongli Investment Co., ltd. 6,446,000 RMB common share 6,446,000
Yangpu Tongrong Investment Management Consultation
5,729,282 RMB common share 5,729,282
Co., Ltd.
Construction Investment CITIC Assets Management Co.,
4,620,000 RMB common share 4,620,000
Ltd.
Domestically listed
CITRINE CAPITAL LIMITED 3,265,200 3,265,200
foreign share
Sanya Rural Credit Cooperative 2,310,000 RMB common share 2,310,000
Haikou Jinmao Branch of Agricultural Bank of China Co.,
2,310,000 RMB common share 2,310,000
Ltd.
Cao Huili 2,303,939 RMB common share 2,303,939
Expiation on associated relationship or consistent actors The Company is unknown whether there exists associated relationship or
within the top 10 un-restrict shareholders and between top belongs to the consistent actor regulated by the Management Measure of
10 un-restrict shareholders and top 10 shareholders Information Disclosure on Change of Shareholding for Listed Company
22
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
among the other shareholders.
Explanation on top ten shareholders involving margin
N/A
business
Whether has a buy-back agreement dealing in reporting period
□Yes √No
The shareholders o f the Company had no buy-back agreement dealing in reporting period.
III. 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
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
IV. Share holding increasing plan proposed or implemented in reporting period from
shareholder of the Company and its concerted action person
□ Applicable √Not applicable
As far as the Company know, there are no share holding increasing plan proposed or implemented in Period from shareholder of the
Company and its concerted action person
23
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section VII. Preferred Stock
I. Issuance and listing of preferred stock in Period
□ Applicable √ Not applicable
II. Number of shareholders with preferred stock held and shareholdings
□ Applicable √ Not applicable
III. Repurchase and conversion of preferred stock
1. Preferred stock repurchased
□ Applicable √ Not applicable
2. Preferred stock converted
□ Applicable √ Not applicable
IV. Preferred stock with voting rights recovered and executed
□ Applicable √ Not applicable
V. Accounting policy taken for preferred stock and reasons
□ Applicable √ Not applicable
24
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section VIII. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior executives have no changes in reporting period, found more details in Annual Report
2013.
II. Resignation and dismissal of directors, supervisors and senior executives
√Applicable □Not applicable
Name Title Type Date Reason
Leave the post while
Chen Rijin Independent director 2014-05-21 Terms of office expired
office terms expired
Leave the post while
Feng Daan Independent director 2014-05-21 Terms of office expired
office terms expired
Leave the post while
Li Guangzhong Independent director 2014-05-21 Terms of office expired
office terms expired
Zhao Man Independent director Be elected 2014-05-22 Be elected
Tang Guoping Independent director Be elected 2014-05-22 Be elected
Leng Mingquan Independent director Be elected 2014-05-22 Be elected
Leave the post while
Li Zhi Employee supervisor 2014-05-21 Terms of office expired
office terms expired
Liu Xianghai Employee supervisor Be elected 2014-05-22 Be elected
25
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section IX. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
Units in Notes of Financial Statements is RMB
1. Balance sheet
Prepared by: Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 6,691,402.14 6,835,685.46
Settlement funds
Lending funds
Tradable financial assets
Notes receivable
Accounts receivable 3,479,148.05 3,509,377.76
Prepayments 134,694.62 201,053.21
Premium receivable
Reinsurance accounts receivable
Reinsurance contract reserve
receivable
Interest receivable
Dividend receivable
Other account receivable 3,097,020.35 3,299,051.36
Buying back the sale of financial
assets
Inventory 314,781.58 317,334.23
Non-current assets due within one year
26
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Other current assets
Total current assets 13,717,046.74 14,162,502.02
Non-current assets:
Issuance of loans and advances
Financial assets available for Sale
Held-to-maturity investment
Long-term receivables
Long term equity investment 10,000,000.00 10,000,000.00
Investment real estate
Fixed asset 58,768,538.51 60,628,905.47
Project in progress
Project materials
Liquidation of fixed asset
Productive biological asset
Oil and gas asset
Intangible asset 28,139,437.91 28,586,908.43
Development expenditure
Goodwill
Long-term deferred expenditure 385,282.73 582,546.77
Deferred income tax asset
Other non-current asset
Total non-current asset 97,293,259.15 99,798,360.67
Total Assets 111,010,305.89 113,960,862.69
Current Liabilities:
Short-term borrowing
Borrowing from the central bank
Deposits and interbank deposit
Borrowed capital
Transaction financial liabilities
Notes payable
Accounts payable 2,209,188.28 2,171,955.96
Account received in advance 1,216,013.54 1,599,994.81
Financial assets sold for repurchase
Fees and commissions payable
27
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Salary payable 3,043,725.36 3,549,851.04
Taxes payable -1,209,571.11 -1,164,999.99
Interest payable
Dividend payable
Other payables 24,687,560.92 25,892,213.01
Reinsurance payables
Reserves for insurance contracts
Agency securities trading
Agency securities underwriting
Non-current liabilities due within one
year
Other current liabilities
Total current liabilities 29,946,916.99 32,049,014.83
Non-current liabilities
Long-term loans
Bonds payable
Long-term payables
Special payables
Accrued liabilities
Deferred income tax liability
Other non-current liability
Total non-current liability
Total liability 29,946,916.99 32,049,014.83
Owners’ equity (or Shareholder’s equity):
Paid-in capital(share capital) 364,100,000.00 364,100,000.00
Capital surplus 54,142,850.01 54,142,850.01
Less: treasury stock
Special reserve
Surplus reserve
Reserve for general risks
Retained profit -337,179,461.11 -336,331,002.15
Converted difference in foreign
currency Statements
Total owner’s equity attributable to parent
81,063,388.90 81,911,847.86
company
28
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Interest of minority shareholders
Total owners’ equity (or shareholders
81,063,388.90 81,911,847.86
equity)
Total liabilities and owners’ equity (or
111,010,305.89 113,960,862.69
shareholders equity)
Legal Representative: Li Yuanbin Person in Charge of Accounting: Chen Liurong
Person in Charge of Accounting Department: Liu Xianghai
2. Income Statements
Prepared by: Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
In RMB
Item Current Amount Amount of the Previous Period
I. Total operation revenue 11,686,452.00 14,778,787.50
Including: Operating revenue 11,686,452.00 14,778,787.50
Interest income
Earned premium
Fee and commission income
II Total Operating cost 12,594,139.13 15,335,705.36
Including: Operating costs 5,336.51 5,091.20
Interest costs
Fee and commission costs
Cash surrender
Net compensation expenses
Net extraction reserves for insurance
contracts
Policy dividend payout
Reinsurance expense
Business tax and surcharge 654,441.33 827,612.10
Sales expenses 5,924,967.97 5,866,274.92
Administrative expenses 5,961,388.09 8,568,614.42
Financial expenses 48,005.23 68,112.72
Asset impairment losses
Add: gains from changes of fair value (Loss
is listed with “-”)
Investment gain (Loss is listed with “-”)
29
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Including: Investment gains on affiliated
Company and joint venture
Exchange gains (Loss is listed with “-”)
III. Operating profits (Loss is listed with “-”) -907,687.13 -556,917.86
Add: Non-operating income 60,567.76 76,146.35
Less: Non-operating expenditure 1,339.59 1,200.00
Including: Disposal loss on non-current liability 1,339.59 200.00
IV Total profits (Total loss is listed with “-”) -848,458.96 -481,971.51
Less: Income tax expenses
V. Net profit (Net loss is listed with “-”) -848,458.96 -481,971.51
Including: Net profit generated by combined party
before merged
Net profit attribute to owners of parent company -848,458.96 -481,971.51
Minority interest
VI. Earnings per share(EPS) -- --
(i) Basic Earnings per share(EPS) -0.0023 -0.0013
(ii) Diluted Earnings per share(EPS) -0.0023 -0.0013
VII. Other consolidated income
VIII. Total consolidated income -848,458.96 -481,971.51
Total consolidated income attributable to owners of
-848,458.96 -481,971.51
parent company
Total consolidated income attributable to minority
shareholders
Legal Representative: Li Yuanbin Person in Charge of Accounting: Chen Liurong
Person in Charge of Accounting Department: Liu Xianghai
3. Cash Flow Statement
Prepared by: Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
In RMB
Items Current Amount Amount of the Previous Period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
12,145,114.03 13,820,522.00
services
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
30
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Net increase of capital borrowed from other financial
institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Net increase of insured savings and investment
Net increase of disposal of transaction financial asset
Cash received from interest, commission charge and
commission
Net increase of capital borrowed
Net increase of returned business capital
Write-back of tax received
Other cash received concerning operating activities 147,264.33 2,401,962.57
Subtotal of cash inflow arising from operating activities 12,292,378.36 16,222,484.57
Cash paid for purchasing commodities and receiving labor
2,563,586.97 3,921,328.49
service
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 5,246,096.51 5,028,559.08
Taxes paid 1,465,661.88 1,610,258.17
Other cash paid concerning operating activities 3,002,116.32 2,714,844.72
Subtotal of cash outflow arising from operating activities 12,277,461.68 13,274,990.46
Net cash flows arising from operating activities 14,916.68 2,947,494.11
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
4,200.00 200.00
other long-term assets
Net cash received from disposal of subsidiaries and other
units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 4,200.00 200.00
Cash paid for purchasing fixed, intangible and other 163,400.00 573,434.00
31
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash paid for obtaining subsidiaries and other units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 163,400.00 573,434.00
Net cash flows arising from investing activities -159,200.00 -573,234.00
III. Cash flows arising from financing activities
Cash received from absorbing investment
Including: Cash received from absorbing minority
shareholders’ investment by subsidiaries
Cash received from loans
Cash received from issuing bonds
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities
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 -144,283.32 2,374,260.11
Add: Balance of cash and cash equivalents at the period
6,835,685.46 15,194,668.69
-begin
VI. Balance of cash and cash equivalents at the period -end 6,691,402.14 17,568,928.80
Legal Representative: Li Yuanbin Person in Charge of Accounting: Chen Liurong
Person in Charge of Accounting Department: Liu Xianghai
4. Statement on Changes of Owners' Equity
Prepared by: Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Current Amount
32
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
In RMB
Current Amount
Owners' equity attributable to the parent company Inter
est
of
Item Less: Spec Surpl Reserv O
Paid-in mino Total owners’
treasur ial us e for t
capital(share Capital surplus Retained profit rity equity
y reser reser general h
capital) shar
stock ve ve risks er
ehol
ders
I. Balance at the end of last year 364,100,000.00 54,142,850.01 -336,331,002.15 81,911,847.86
Add: Changes of
accounting policy
Error correction of
previous period
Others
II. Balance at the beginning of
364,100,000.00 54,142,850.01 -336,331,002.15 81,911,847.86
this year
III. Increase/ Decrease in this
-848,458.96 -848,458.96
year (Decrease is listed with'"-")
(i) Net profit -848,458.96 -848,458.96
(ii) Other consolidated income
Subtotal of (i)and (ii) -848,458.96 -848,458.96
(III) Owners' devoted and
decreased capital
1. Owners' devoted capital
2. Amount calculated into
owners' equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus
reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) Carrying forward internal
33
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
owners' equity
1. Capital reserves conversed to
capital (share capital)
2. Surplus reserves conversed to
capital (share capital)
3. Remedying loss with
surplus reserve
4. Others
(VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the
364,100,000.00 54,142,850.01 -337,179,461.11 81,063,388.90
report period
Amount in last year
In RMB
Amount in last year
Owners’ equity attributable to the parent company Inter
est
O of
Less: Spec Surp Reserv
Items Paid-in t mino Total owners’
treasu ial lus e for
capital(share Capital surplus Retained profit h rity equity
ry reser reser general
capital) e share
stock ve ve risks
r hold
ers
I. Balance at the end of last year 364,100,000.00 54,142,850.01 -334,131,682.19 84,111,167.82
Add: retroactive adjustment
arising from enterprise
consolidation under the same
control
Add: Changes of
accounting policy
Error correction of
previous period
Other
II. Balance at the beginning of
364,100,000.00 54,142,850.01 -334,131,682.19 84,111,167.82
this year
III. Increase/ Decrease in this
-2,199,319.96 -2,199,319.96
year (Decrease is listed with’”-”)
34
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
(i) Net profit -2,199,319.96 -2,199,319.96
(II) Other consolidated income
Subtotal of (i)and (ii) -2,199,319.96 -2,199,319.96
(III) Owners’ devoted and
decreased capital
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus
reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) Carrying forward internal
owners’ equity
1. Capital reserves conversed to
capital (share capital)
2. Surplus reserves conversed to
capital (share capital)
3. Remedying loss with
surplus reserve
4. Others
( VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the
364,100,000.00 54,142,850.01 -336,331,002.15 81,911,847.86
report period
Legal Representative: Li Yuanbin Person in Charge of Accounting: Chen Liurong
Person in Charge of Accounting Department: Liu Xianghai
35
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
III. Company profile
Hainan Dadonghai Tourism Center (Holdings) Co., Ltd. (hereinafter referred to as “Company” or “the Company”),
was founded as a standardized LLC on April 26, 1993, reorganized and incorporated on the basis of the former
Hainan Sanya Dadonghai Tourism Center Development Ltd and approved by the Hainan Provincial Stock System
Experimentation Leading Team Office with a document of Qiong Gu Ban Zi [1993] No. 11. On May 6, 1996, the
Company underwent a restructuring and a corresponding division under the approval of the Hainan Provincial
Securities Administration Office with a document of Qiong Zheng Ban [1996] No. 58. On October 8, 1996 and
January 28, 1997, the Company, with duly approval, went public by issuing 80 million shares of B stock and 14
million shares of A stock respectively on Shenzhen Security Exchange. On June 20, 2007, the Company
experienced a reform of non-tradable shares, through which non-tradable share holders of the Company got
circulating right of their shares by paying shares to tradable share holders, and tradable share holders got paid
three shares for every ten of their shares. After the above consideration of stock ration were implemented, the
Company maintained an unchanged total shares with a corresponding equity structural change.
As of June 30, 2014, the Company’s total capital stock is 364,100,000 shares, in which the restricted tradable
stock is 15,535,200 shares, accounting for 4.72% of the total, and the unrestricted tradable stock is 348,564,800
shares, accounting for 95.73 % of the total. The Company’s registered capital is RMB 364.1 million. The legal
representative is Li Yuanbin. The registeration number of its Business License for Enterprise Legal Person (Copy)
is 4600001003983. And the legal registerred residence is Dadonghai, Hedong District, Sanya.
The Company belongs to the industry of tourism and catering services. Its scope of business includes:
accomodation and catering industry (limited to those operated by branches); photography; operation of
ornamental plant bonsai, knitwear and textiles, general merchandise, hardware and electrical equipment, chemical
products (excluding those require specialized licenses), daily necessities, industrial means of production
(excluding those require specialized licenses), metal materials and machinery equipment; commission sale of
plane, bus, train and ship tickets (items in require of administrative permission shall be operated under license).
IV. Principal accounting policies, estimates and errors of previous period
1. Basis of preparation for financial statements
Based on going concern, according to actually occurred transactions and events, the Company prepares its
financial statements in accordance with the Accounting Standards for Business Enterprises – Basic Standards and
38 concrete accounting standards issued on February 15, 2006 by the Finance Ministry, the subsequently issued
Accounting Standards for Business Enterprises – Application Guidelines, and the Accounting Standards for
Business Enterprises – Interpretations and other relevant provisions (collectively known as “Accounting Standards
for Business Enterprises”), as well as the disclosure requirements of Regulation on the Preparation of Information
Disclosure of Companies Issuing Public Shares No.15 - General Requirements for Financial Reports (as revised in
2010) by the China Securities Regulatory Commission.
2. Statement on compliance with Accounting Standards for Business Enterprises
The financial statements prepared by the Company meet the requirements of the Accounting Standards for
Business Enterprises and truly and completely reflect the Company’s financial position, operating results and cash
36
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
flows, etc. for the reporting period.
3. Accounting period
The accounting year is from January 1 to December 31 in calendar year.
4. Functional currency
RMB is adopted as the functional currency.
5. Accounting treatment for business combinations under the same control and those not under the same
control
(1)Business combination under the same control
Nil
(2)Business combination not under the same control
Nil
6. Relevant specific accounting policy for equity disposal on step-by-step basis to lose control
(1) A principle of judgment of “Package Deal”
Nil
(2) Accounting method for “Package Deal”
Nil
(3) Accounting method for Non “Package Deal”
Nil
7. Methods for preparation of consolidated financial statements
(1) Methods for preparation of consolidated financial statements
Nil
(2) Accounting treatment method that should be disclosed for the equity of same subsidiary, which sold
after sales or sales after sold in two accounting period in a row
Nil
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. And the term “cash equivalents” refers to short-term (maturing within three months from
acquisition) and highly liquid investments that are readily convertible to known amounts of cash and which are
subject to an insignificant risk of change in value.
9. Foreign business and foreign currency statement translation
(1) Foreign currency transactions
Foreign currency transactions are converted into RMB for recording purpose at the spot exchange rate on the date
when the transaction occurs.
(2) Foreign currency statement translation
Balances of foreign currency monetary items are measured at the spot exchange rate on the balance sheet date.
The exchange difference arising wherefrom shall be included in the current profit and loss, except that those
37
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
exchange differences arising from the special borrowings of foreign currency related to the acquired and
constructed assets qualified for capitalization shall be dealt with according to the principle of borrowing cost
capitalization. Foreign currency non-monetary items measured at historical costs shall still be converted at the
spot exchange rates on the date when the transactions occur, and the amount in functional currency shall remain
unchanged. Foreign currency non-monetary items measured at fair value shall be translated at the spot exchange
rates on the date when the fair value is determined. The exchange difference arising wherefrom shall be included
in the current profit and loss or capital reserves.
10. Financial instruments
Financial instruments include financial assets, financial liabilities and equity instruments.
(1) Classification of financial instruments
Financial assets and liabilities are classified into the following categories according to the purpose of acquisition:
financial assets or financial liabilities measured at fair value through current profit and loss, including financial
assets or financial liabilities held for trading (and financial assets or financial liabilities directly designated to be
measured at fair value through current profit and loss), accounts receivable, and other financial liabilities, etc.
(2) Recognition basis and measurement method of financial instruments
(1) Financial assets (financial liabilities) measured at fair value through current profit and loss
Financial assets (financial liabilities) are initially recorded at fair values when acquired (deducting cash dividends
that have been declared but not distributed and bond interests that have matured but not been drawn). Relevant
transaction expenses are included in the current profit and loss.
The interests or cash dividends to be received during the holding period are recognized as investment income.
Change in fair values is included in the current profit and loss at the end of the period.
Difference between the fair value and initial book-entry value is recognized as investment income upon disposal;
meanwhile, adjustment is made to gains or losses from changes in fair values.
(2) Accounts receivable
For creditor’s rights receivable arising from external sales of goods or rendering of service by the Company and
other creditor's rights of other enterprises (excluding liability instruments quoted in an active market) held by the
Company, including accounts receivable, other receivables, notes receivable and prepayments, etc., the initial
recognition amount shall be the contract price or agreement price receivable from purchasing party. Accounts
receivable with financing nature are initially recognized at their present values. The difference between the
amount received and the book value of the accounts receivable is included in the current profit and loss upon
recovery or disposal.
(3) Other financial liabilities
Other financial liabilities are initially recognized at the sum of fair value and transaction expenses and
subsequently measured at amortized costs.
(3) Recognition basis and measurement method of transfer of financial assets
When transfer of financial assets occurs, if nearly all of the risks and rewards of ownership of the financial assets
have been transferred to the transferee, the Company derecognizes the financial assets; if nearly all of the risks
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and rewards of ownership of the financial assets are retained, the Company shall not derecognize the financial
assets.
The principle of substance over form is adopted to determine whether the transfer of a financial asset satisfies the
criteria as described above for derecognition of a financial asset. The Company shall classify the transfer of a
financial asset into the entire transfer and the partial transfer of financial asset. If the entire transfer of financial
asset satisfies the criteria for derecognition, the difference between the amounts of the following two items shall
be included in the current profit and loss:
(1) The book value of the transferred financial asset;
(2) The sum of the consideration received from the transfer and the accumulated amount of the changes in fair
value originally and directly included in owners’ equity (the situation where the financial asset transferred is an
available-for-sale financial asset is involved in).
If the partial transfer of financial asset satisfies the criteria for derecognition, the entire book value of the
transferred financial asset shall be split into the derecognized and recognized part according to their respective fair
value and the difference between the amounts of the following two items shall be included in the current profit
and loss:
(1) The book value of derecognized part;
(2) The sum of the consideration for the derecognized part and the portion of derecognition corresponding to the
accumulated amount of the changes in fair value originally and directly included in owners’ equity (the situation
where the financial asset transferred is an available-for-sale financial asset is involved in).
If the transfer of financial assets does not meet the derecognition criteria, the financial assets shall continue to be
recognized, and the consideration received will be recognized as a financial liability.
(4) Derecognition criteria of financial liabilities
A financial liability shall be totally or partly derecognized if its present obligations are totally or partly dissolved.
Where the Company enters into an agreement with a creditor so as to substitute the existing financial liabilities
with any new financial liability, and the new financial liability is substantially different from the contractual
stipulations regarding the existing financial liability, it shall derecognize the existing financial liability, and shall at
the same time recognize new financial liability.
Where substantial revisions are made to some or all of the contractual stipulations of the existing financial liability,
the Company shall derecognize the existing financial liability totally or partly, and at the same time recognize the
financial liability with revised contractual stipulations as a new financial liability.
Upon total or partial derecognition of financial liabilities, the difference between the book value of the financial
liabilities derecognized and the consideration paid (including non-cash assets surrendered or new financial
liabilities assumed) shall be included in the current profit and loss.
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Where the Company redeems part of its financial liabilities, it shall, on the redemption date, allocate the entire
book value of whole financial liabilities according to the comparative fair value of the part that continues to be
recognized and the de-recognized part. The difference between the book value allocated to the derecognized part
and the considerations paid (including non-cash assets surrendered and the new financial liabilities assumed) shall
be included in the current profit and loss.
(5) Method of determining the fair value of financial assets and financial liabilities
For financial assets and financial liabilities measured at fair value by the Company, their fair values are
determined with direct reference to the quoted prices in the active market.
(6) Method of impairment testing and impairment provision for financial assets (account receivables
excluded)
Nil
Judging standards for vary impairment of financial assets available for sale
Nil
(7) For the financial assets available for sales which was re-classified from held-to-maturity investment
undue, explain changes of holding purpose or ability basis
Nil
11. Standards of recognition and accrual method for bad debt provision of receivables
(1) Provision for bad debts of accounts receivable those are individually significant:
Assessment basis or standard of amount Top five accounts receivable and other receivables in terms of individual amount at the
individually significant end of the year.
After separate impairment test, provision for bad debts shall be made at the difference of
present value of estimated future cash flows in short of their book values, and shall be
Accrual method for amount individually
include in current profit and loss. For accounts receivable with no impairment found
significant and withdrawal bad debt after separate tests, they shall be included in corresponding portfolios for provisions for
bad debts. For accounts receivable with confirmed impairment losses after separate tests,
provision single
they shall not be included in portfolios of accounts receivable with similar credit risk
features for impairment tests.
(2) Provision for bad debts of accounts receivable made on the basis of portfolio
Method of making provision for bad debts
Portfolio Basis of determining portfolio
on the basis of portfolio
Aging portfolio Aging analysis method Length of the aging
Proportions of provision for bad debts on the basis of aging analysis in portfolios are as follows
√Applicable □Not applicable
Proportion of provision for account
Aging Proportion of provision for other receivables
receivable
1 to 2 years 5.00% 5.00%
2 to 3 years 15.00% 15.00%
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
3 to 4 years 25.00% 25.00%
4 to 5 years 50.00% 50.00%
Over 5 years 100.00% 100.00%
In portfolio, adopting balance percentage method for bad debt provision
□ Applicable √Not applicable
In portfolio, adopting other method for bad debt provision
□ Applicable √Not applicable
(3) Accounts receivable that are individually insignificant but with bad debt provision provided on an
individual basis
For account receivable with an individual balance lower than the top five at the end of the year and
Reason for bad debt
with objective evidence showing it may be impaired, and for uncollectible accounts receivable
provision provided on an
arising from repeal and liquidation of debtor after taking legal clearance procedures, their provision
individual basis
for bad debts shall be provided on an individual basis.
For accounts receivable with objective evidence showing they may be impaired, they shall be
Method of provision for bad separate from relevant portfolios and separately tested for impairment to recognize the impairment
debt losses. Other remarks: provision for impairment of accounts receivable, excluding debts receivable
and other receivables, shall be made at the specific identification method
12. Inventories
(1) Classification of inventories
Inventories are classified into raw materials, stock commodities, low-cost consumables, food materials, fuels,
etc.
(2) Measurement method of dispatched inventories
Measurement method: other
Measurement method: stock commodities are measured at selling price and their purchase and sale price
differential are amortized over every month at the method of comprehensive differential. The purchasing and
storage of stock materials are measured at actual cost, and at the first-in first-out method when fetched for use.
Low-cost consumables are amortized in full when fetched for use.
(3) Determination basis of net realizable values of inventories and provision method of inventory
depreciation reserve
After the comprehensive inventory count at the end of the period, provisions for inventory depreciation
reserve are made or adjusted at the lower of their costs or net realizable values.
In normal operation process, for merchandise inventories for direct sale, including stock commodities and
materials for sale, their net realizable values are determined at the estimated selling prices minus the
estimated selling expenses and relevant taxes and surcharges; for inventories held to execute sales contract or
service contract, their net realizable values are calculated on the basis of contract price. If the quantities of
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inventories specified in sales contracts are less than the quantities held by the Company, the net realizable
value of the excess portion of inventories shall be based on general selling prices.
At the end of the period, provisions for inventory depreciation reserve are made on an individual basis. For
inventories with large quantity and low unit price, the provisions for inventory depreciation reserve are made
on a category basis. For inventories related to the product portfolios manufactured and sold in the same area,
and of which the final usage or purpose is identical or similar thereto, and which is difficult to separate from
other items for measurement purposes, the provisions for inventory depreciation reserve shall be made on a
portfolio basis.
If any factor rendering write-downs of the inventories has been eliminated, the amounts written down are
recovered and reversed from the inventory depreciation reserve, which has been provided for. The reversed
amounts are included into the current profit and loss.
(4) Inventory system
Inventory system: Perpetual inventory system
Inventory system: Perpetual inventory system
(5) Amortization method of low-cost consumables and packaging materials
Low-cost consumables
Amortization method: one-off method
Low-cost consumables are amortized at one-off amortization method.
Packaging materials
Amortization method: one-off method
Packaging materials are amortized at one-off amortization method.
13. Long-term equity investment
(1) Determination of investment cost
(1) Long-term equity investment acquired from business combination
For business combination under common control: if the Company makes payment in cash, transfer non-cash
assets or bear debts and issues equity securities as the consideration for the business combination, the book
value of the owners’ equity of the combinee obtained is recognized as the initial cost of the long-term equity
investment on the combination date. The stock premium in the capital reserve is adjusted according to the
difference between the initial cost of long-term equity investment and the consideration for the combination
paid; if there is no sufficient premium in the capital reserve for write-downs, the retained earnings are
adjusted. Relevant direct costs arising from the business combination, including audit fee, appraisal fee and
legal service fee paid for the business combination, are included in the current profit and loss when incurred.
For business combination not under common control, the Company recognizes the combination cost
determined on the combination date as the initial cost of long-term equity investment. The combination cost
is the fair value of assets paid, liabilities incurred or born and the equity securities issued to obtain the
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
control of the acquiree. Intermediary costs such as audit fee, legal service fee, appraisal and consultancy fee
paid for the business combination by the acquirer and other relevant administrative expenses are included in
the current profit and loss when incurred; the transaction costs for the acquirer’s issuance of equity securities
or the debt securities as the consideration for the business combination are included in the initially
recognition amounts of the equity or debt securities. For business combination not under common control
through multiple transactions and by stage, the total of the book values of equity investment held by the
acquirer before the combination date and the newly increased investment on the combination date are
recognized as the initial cost of such investment. The Company regards the contingent consideration agreed
in the combination agreement as part of the consideration transferred for the combination, and includes it in
the combination cost at its fair value on the combination date.
(2) Long-term equity investment acquired by other means
For long-term equity investments acquired from making payments in cash, the initial cost is the actually paid
purchase cost. For long-term equity investments acquired from issuance of equity securities, the initial cost is
the fair value of the issued equity securities. For long-term equity investments of investors, the initial cost is
the value stipulated in the investment contract or agreement (deducting the cash dividend or profit that has
been declared but not distributed) unless the value stipulated in the contract or agreement is unfair. If the
exchange of non-monetary assets has commercial substance, and the fair values of assets traded out and
traded in can be measured reliably, the initial cost of long-term equity investment traded in with
non-monetary assets are determined based on the fair values of the assets traded out unless there is any
conclusive evidence that the fair values of the assets traded in are more reliable. If the exchange of
non-monetary assets does not meet the above criteria, the book value of the assets traded out and relevant
taxes and surcharges payable are recognized as the initial cost of long-term equity investment traded in. For
long-term equity investment acquired from debt restructuring, the initial cost is determined based on the fair
value.
(2) Subsequent measurement and recognition of profit or loss
(1) Long-term equity investments of the Company in its subsidiaries are accounted for at cost method and
adjusted at equity method when preparing the consolidated financial statements. For long-term equity
investment which has no joint control or significant influence over the investee and no quotation available on
the active market and whose fair value cannot be reliably measured, the cost method is adopted for
accounting. For long-term equity investment which has joint control or significant influence over the
investee, the equity method is adopted for accounting. If the cost of initial investment is in excess of the
proportion of the fair value of the net identifiable assets in the investee when the investment is made, the
difference will not be adjusted to the initial cost of long-term equity investment; if the cost of initial
investment is in short of the proportion of the fair value of the net identifiable assets in the investee when the
investment is made, the difference will be included in the current profit and loss. Treatment for other changes
in owners' equity other than the net profit or loss of the investee: for other changes in owners' equity other
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
than the net profit or loss of the investee accounted for at equity method, when the shareholding ratio is
unchanged, the Company calculates the proportion it shall enjoy or undertake according to such ratio, adjusts
the book value of long-term equity investment and increases or decreases capital reserves (other capital
reserves) at the same time. (2) Under the cost method, except for the actual price paid for acquisition of
investment or the cash dividends or profits contained in the consideration which have been declared but not yet
distributed, the Company recognizes the proportion it shall enjoy in the cash dividends or profits declared by
the investee as its investment income. Under the equity method, based on the net book profit of investee, the
Company shall consider: when the accounting policy and period adopted by the investee and the Company
are not the same, the financial statements of the investee shall be adjusted in accordance with the accounting
policy and period of the Company; the influence of the depreciation amount, amortization amount and
relevant asset impairment provision accrued based on the fair value of fixed assets and intangible assets of
the investee on acquisition of investment on the net profit of the investee; after making proper adjustments,
including the cancellation of unrealized internal transitions between the Company and the associates or joint
ventures, the Company shall recognize its shared or undertaken net profit or loss in the investee. When the
Company confirms that it should share losses of the investee, treatment shall be done in following sequence:
firstly, the book value of the long-term equity investment shall be reduced; secondly, where the book value is
insufficient to cover the share of losses, investment losses are recognized to the extent of book value of
long-term equity (note: mainly limited to those long-term equity with no clear recovery plan and that are not
prepared to be collected in the foreseeable future period) which form net investment in the investee in
substance and the book value of long-term equity shall be reduced; finally, after all the above treatments, if
the Company is still responsible for any additional liabilities in accordance with the provisions stipulated in
the investment contracts or agreements, accrued liabilities are recognized and included into current
investment loss according to the obligations estimated to undertake. If the investee achieves profit in
subsequent periods, the treatment is in the reversed sequence described above, i.e. after deduct any
unrecognized investment losses, reduce book value of accrued liabilities recognized, restore book values of
other long-term equity which form net investment in the investee in substance, and of long-term equity
investment, and recognize investment income at the same time. When holding the investment, if the investee
is capable of providing consolidated financial statements, the profit or loss shall be measured based on the
net profit and other changes in equity recorded in the consolidated financial statements.
(3) Determination basis of joint control or significant influence over the investee
Joint control is the contractually agreed sharing of control over an economic activity, and exists only when
the strategic financial and operating decisions relating to the activity require the unanimous consent of the
parties sharing control. Where an investing enterprise and other parties do joint control over an investee, the
investee shall be their joint venture. Significant influence is the power to participate in the financial and
operating policy decisions of the investee but is not control or joint control over those polices. Where an
investing enterprise is able to have significant influences on an investee, the investee shall be its associate.
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(4) Testing and provision method of impairment
For long-term equity investment measured at cost, with no quoted price in active market and whose fair
value can be reliably measured, its impairment loss is determined at the difference between its book value
and its present value. For long-term equity investment which is measured at cost and has no quoted price in
the active market, and whose fair value cannot be reliably measured, the difference between its book value
and the present value of the future cash flows discounted at the prevailing market rate of return for a similar
financial asset is recognized as impairment loss. For long-term equity investment measured at cost other than
that mentioned above, if its book value is higher than the net assets it shares in the investee, the Company
shall consider the impairment in value. And the provision for such impairment shall be made at the difference
of the recoverable amount in short of the book value of the long-term equity investment. For other long-term
equity investments, if the measurement result shows that the recoverable amount of the long-term equity
investment is lower than its book value; such difference shall be recognized as impairment loss. Once
recognized, the impairment loss of long-term equity investment shall not be reversed.
14. Investment real estate
Nil
15. Fixed assets
(1) Recognition criteria of fixed assets
Fixed assets refer to the tangible assets held for the purpose of producing commodities, rendering services,
renting or business management with useful lives exceeding one year. Fixed assets will only be recognized
when all the following criteria are satisfied: (1) It is probable that the economic benefits relating to the fixed
assets will flow into the Company; and (2) The costs of the fixed assets can be measured reliably.
(2) Recognition criteria and valuation method for fixed assets under financing lease
Nil
(3) Method of provision for impairment of fixed assets
The fixed assets are depreciated at straight-line-method, and the depreciation rates are determined as follows
based on the category, estimated economic useful lives and estimated residual values (5% of original values):
Category Estimated useful life (Year) Estimated residual rate Annual depreciation rate
Buildings and constructions 20-40 5.00% 4.75-2.37
Machinery equipment 8-20 5.00% 11.87-4.75
Electronic equipment 5-16 5.00% 19-5.93
Transportation equipment 7-12 5.00% 13.57-7.91
Other equipment 8 5.00% 11.87
Improvement 5 19
(4) Testing and provision methods of impairment of fixed assets
The Company assesses whether there is any indication that fixed assets may be impaired at the end of each
period.
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If there is any indication that fixed assets may be impaired, the Company estimates the recoverable amounts
of the assets. The recoverable amounts of fixed assets are the higher of their fair values less costs to disposal
and the present values of the estimated future cash flows of the assets.
If the recoverable amounts of fixed assets are lower than their book values, the book values of the assets are
written down to their recoverable amounts. The write-downs are recognized as impairment losses and
included to the current profit and loss. Provisions for impairment of the assets are made accordingly.
After impairment losses are recognized, the depreciation charges for the impaired fixed assets are adjusted in
future periods to amortize their revised book values (less their estimated net residual values) over their
remaining useful lives on a systematic basis.
The impairment loss on fixed assets will not be reversed in subsequent accounting period once it is
recognized.
If any indication suggests that a fixed asset may be impaired, the Company estimates the recoverable amount
of the individual asset. If it is difficult to estimate the recoverable amount of the individual asset, the
Company estimates the recoverable amount of the asset group that the individual asset belongs to.
(5) Other explanation
Nil
16. Construction in progress
(1) Category of construction in progress
Construction in progress is measured on an individual basis.
(2) Criteria and timing for conversion of construction in progress into fixed assets
The initial book values of the fixed assets are stated at total expenditures incurred before construction in
progress reaching the working condition for their intended use. For construction in progress that has reached
working conditions for its intended use but for which the completion of settlement has not been handled, it
shall be transferred into fixed assets at the estimated value according to the project budget, construction price
or actual cost, etc. from the date when it reaches the working conditions for its intended use. And the fixed
assets shall be depreciated in accordance with the Company’s policy on fixed asset depreciation. Adjustment
shall be made to the originally and provisionally estimated value based on the actual cost after the
completion of settlement is handled, but depreciation already provided will not be adjusted.
(3) Testing and provision methods of impairment of construction in progress
The Company assesses whether there is any indication that construction in progress may be impaired at the
end of each period.
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
If there is any indication that construction in progress may be impaired, the Company estimates its
recoverable amounts. If any indication suggests that one construction in progress may be impaired, the
Company estimates the recoverable amount of the individual construction in progress. If it is difficult to
estimate the recoverable amount of the individual construction in progress, the Company estimates the
recoverable amount of the asset group that the individual construction in progress belongs to.
The recoverable amount of construction in progress is the higher of its fair value less costs to disposal and
the present value of the estimated future cash flows of the construction in progress.
If the recoverable amount of construction in progress is lower than its book values, the book value of the
construction in progress is written down to its recoverable amount. The write-down is recognized as
impairment loss and included in current profit and loss. Provision for impairment of the construction in
progress is made accordingly.
The impairment loss on construction in progress will not be reversed in subsequent accounting period once it
is recognized.
17. Borrowing costs
(1) Recognition principles of capitalization of borrowing costs
Borrowing costs include the interest of borrowings, the amortization of discount or premium, auxiliary
expenses, exchange differences incurred by foreign currency borrowings, etc.
The borrowing costs incurred to the Company and directly attributable to the acquisition and construction or
production of assets eligible for capitalization should be capitalized and recorded into asset costs; other
borrowing costs should be recognized as costs according to the amount incurred and be included into current
profit and loss.
Assets eligible for capitalization refer to fixed assets, investment property, inventories and other assets which
may reach their intended use or sale status only after long-time acquisition and construction or production
activities.
Borrowing costs may be capitalized only when all the following conditions are met at the same time:
(1) Asset disbursements, which include those incurred by cash payment, the transfer of non-cash assets or
the undertaking of interest-bearing debts for acquiring and constructing or producing assets eligible for
capitalization, have already been incurred;
(2) Borrowing costs have already been incurred;
(3) The acquisition and construction or production activities which are necessary to prepare the assets for
their intended use or sale have already been started.
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
(2) Capitalization period of borrowing costs
Capitalization period refers to the period from the beginning of capitalization to the cease of capitalization,
excluding the period of capitalization suspension of borrowing costs.
Capitalization of borrowing costs should be ceased when the acquired and constructed or produced assets
eligible for capitalization have reached their intended use or sale condition.
When some projects among the acquired and constructed or produced assets eligible for capitalization are
completed and can be used separately, the capitalization of borrowing costs of such projects should be
ceased.
If all parts of the acquired and constructed or produced assets are completed but the assets cannot be used or
sold externally until overall completion, the capitalization of borrowing costs should be ceased at the time of
overall completion of the said assets.
(3) Period of capitalization suspension
If the acquisition and construction or production activities of assets eligible for capitalization are interrupted
abnormally and this condition lasts for more than three months, the capitalization of borrowing costs should
be suspended; if the interruption is necessary for the acquisition and construction or production to prepare
the assets for their intended use or sale, the capitalization of borrowing costs should continue. The borrowing
costs incurred during interruption are recognized in the current profit and loss, and the capitalization of
borrowing costs continues after the restart of the acquisition and construction or production activities of the
assets.
(4) Calculation method of capitalization amount of borrowing costs
As for special borrowings borrowed for acquiring and constructing or producing assets eligible for
capitalization, borrowing costs of special borrowing actually incurred in the current period less the interest
income of the loans unused and deposited in bank or return on temporary investment should be recognized as
the capitalization amount of borrowing costs.
As for general borrowings used for acquiring and constructing or producing assets eligible for capitalization,
the interest of general borrowings to be capitalized should be calculated by multiplying the weighted average
of asset disbursements of the part of accumulated asset disbursements exceeding special borrowings at the
end of every month by the capitalization rate of used general borrowings. The capitalization rate is calculated
by weighted average interest rate of general loans.
As for borrowings with discount or premium, the to-be-amortized discount or premium in each accounting
period should be recognized by effective interest rate method, and the interest for each period should be
adjusted.
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18. Biological assets
Nil
19. Oil-and-gas assets
Nil
20. Intangible assets
(1) Measurement method of intangible assets
1) The Company initially measures intangible assets at cost on acquisition;
The cost of an externally acquired intangible asset comprises its purchase price, related taxes and surcharges
and any other directly attributable expenditure of preparing the asset for its intended use. If the deferred
payment of purchase price of intangible assets exceeding normal credit terms is substantially of financial
nature, the cost of intangible assets should be recognized at the present value of the purchase price.
The intangible assets which the debtor uses to pay back the debt in debt restructuring should be recognized at
the fair value of the intangible assets. The difference between the book value of restructured debts and the
fair value of intangible assets used to pay back the debt should be recorded into the current profit and loss;
On the premise that non-monetary assets trade is of commercial nature and the fair value of the assets traded
in or out can be measured reliably, the intangible assets traded in by the trade of non-monetary assets should
be recognized at the fair value of the assets traded out, unless any unambiguous evidence indicates that the
fair value of the assets traded in is more reliable; as to the non-monetary assets trade not meeting the
aforesaid premise, the book value of the assets traded out and related taxes payable should be recognized as
the cost of the intangible assets traded in, with gains or losses not recognized.
The intangible assets obtained by the absorption and merger of an enterprise under common control are
recognized at the book value of the merged enterprise; the intangible assets obtained by the absorption and
merger of an enterprise not under common control are recognized at the fair value.
Costs of intangible assets developed internally and independently include: the costs of materials and labor
services used to develop the intangible assets, the registration fee, the amortization of other patents and
franchise used in the process of development, the interest of capitalization, and other direct expenses for
preparing the intangible assets for their intended use.
2) Subsequent measurement
The useful life of intangible asset is analyzed on acquisition.
As for intangible assets with limited useful lives, straight-line amortization method is adopted in the period
when the intangible assets generate economic benefit for enterprise; if the period when the intangible assets
generate economic benefit for enterprise cannot be forecasted, the intangible assets should be deemed as
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
those with indefinite useful lives and should not be amortized.
(2) Estimation of useful life of intangible assets with limited useful life
The useful lives and amortization method of intangible assets with limited useful lives are reviewed at the end of
each period.
Upon review, the useful lives and amortization method of the intangible assets as at the end of the year are not
different from those estimated before.
Item Estimated useful life Basis
Land use right 50 years Validity term of land use certificate
(3) Determination basis of intangible assets with indefinite useful lives
As at the balance sheet date, the Company has no intangible assets with indefinite useful lives.
(4) Provision for impairment of intangible assets
If the intangible asset with definite useful life has any obvious impairment sign, impairment test should be
conducted at the end of the period.
As to the intangible asset with indefinite useful life, impairment test should be conducted at the end of each
period.
Impairment test is conducted for intangible assets to estimate their recoverable amounts. If any indication suggests
that an intangible asset may be impaired, the Company estimates the recoverable amount of such individual asset.
If it is difficult to estimate the recoverable amount of the individual asset, the Company estimates the recoverable
amount of the asset group that the individual asset belongs to.
The recoverable amounts of intangible assets are the higher of their fair values less costs to disposal and the
present values of the estimated future cash flows of the intangible assets.
If the recoverable amounts of intangible assets are lower than their book values, the book values of the assets are
written down to their recoverable amounts. The write-downs are recognized as impairment losses and included in
the current profit and loss. Provisions for impairment of the intangible assets are made accordingly.
After impairment losses are recognized, the depletion or amortization charges for the intangible assets are adjusted
in future periods to depreciate their revised book values (less their estimated net residual values) over their
remaining useful lives on a systematic basis.
The impairment loss on intangible assets will not be reversed in subsequent accounting period once it is
recognized.
(5) Detail criteria on classification of research stage and development stage for internal R&D projects of the
Company
Nil
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(6) Calculation of expenditure for internal R&D projects
Nil
21. Long-term deferred expenses
Long-term deferred expenses are various expenses already incurred, which shall be amortized over current and
subsequent periods with the amortization period exceeding one year.
1. Amortization method
Long-term deferred expenses are evenly amortized over the beneficial period.
2. Amortization period
Item Amortization period
Roof waterproofing 3 years
Exterior wall coatings 4 years
22. Assets transfer with buy-back conditions attached
Nil
22. Accrued liabilities
When the Company is involved in proceedings, debt guarantees, onerous contracts and reorganization events,
if such events may require delivery of assets or rendering of services in the future and the amounts of such
events can be reliably measured, accrued liabilities are recognized.
(1) Recognition criteria of accrued liabilities
The Company recognizes the accrued liabilities when obligations related to contingencies satisfy all the
following conditions:
(1) This obligation is a present obligation of the Company;
(2) The performance of such obligation is likely to result in outflow of economic benefits from the
Company; and
(3) The amount of the obligation can be measured reliably.
(2) Measurement method of accrued liabilities
The accrued liabilities of the Company are initially measured as the best estimate of expenses required for
the performance of relevant present obligations.
The Company, when determining the best estimate, has had a comprehensive consideration of risks with
respect to contingencies, uncertainties and the time value of money. If the time value of money is significant,
the best estimate shall be determined after discounting the relevant future outflow of cash.
The best estimate shall be accounted as follows in different circumstance:
If there is continuous range (or interval) for the necessary expenses, and probabilities of occurrence of all the
outcomes within this range are equal, the best estimate shall be determined at the average amount of upper
and lower limits within the range.
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
If there is no continuous range (or interval) for the necessary expenses, or probabilities of occurrence of all
the outcomes within this range are unequal despite such a range exists, the outcomes within this range are
unequally likely to occur, in case that the contingency involves a single item, the best estimate shall be
determined at the most likely outcome; if the contingency involves two or more items, the best estimate
should be determined according to all the possible outcomes with their relevant probabilities.
When all or part of the expenses necessary for the settlement of an estimated liability of the Company is
expected to be compensated by a third party, the compensation should be separately recognized as an asset
only when it is virtually certain that the compensation will be received. The amount recognized for the
compensation should not exceed the book value of the estimated liability.
24. Share-based payment and equity instruments
(1) Type of share-based payment
Nil
(2) Recognition method for fair-value of equity instrument
Nil
(3) Basis of best estimation for vesting equity instrument
Nil
(4) Relevant accounting treatment for implementation, amendment and termination of shares payment
plan
Nil
25. Shares of the Company buy-back
Nil
26. Revenue
(1) Detail recognition criteria for sales of goods
(1) Overall recognition and measurement principles of revenue from sales of goods: when the Company has
transferred significant risks and rewards of ownership of the goods to the buyer; the Company retains neither
continuous management rights associated with ownership of the goods sold nor effective control over the goods
sold; the relevant amount of revenue can be measured reliably; it is highly likely that the economic benefits
associated with the transaction will flow into the enterprise; and the relevant amount of cost incurred or to be
incurred can be measured reliably, revenue from sales of goods shall be recognized. (2) Detail recognition criteria
for the Company after the customer order is received and the manger of sales department confirms and verifies the
terms of payment, the manager places advanced orders and records them in the Qianliama Sales Management
System; most customers will pay advance payment or the sales department provides guarantees; the receptionists,
according to the advanced orders of the sales department, review relevant data recorded in the computer system,
52
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
and handle check-in formalities after the customers arrive, collect deposit and record relevant information into the
computer system. Each consumption department, after checking with the receptionists, deals with the
consumption sign bills and make pre-settlements in the reception desk. The evening reviewer of reception desk
reviews the consumption bills every night and makes verifications in the computer system, and prepares daily
business report containing each items of income and detailed report of accounts receivable, and submits the
reports to the finance department, which recognizes the revenue after examining the daily reports.
(2) Recognition basis of revenue from transferring the use right of assets
The economic benefits related to the transaction may flow into entities and the amount of revenue can be reliably
measured. The amount of revenue from transferring use right of assets is recognized as follows in different
circumstances:
(1) The amount of interest income is determined by the time and effective interest rate for others to use the
monetary funds of the Company.
(2) The amount of revenue from usage is determined according to the charging time and method as agreed in
relevant contract or agreement.
(3) Specific recognition criteria of revenue from rendering of service
When the outcome of a service transaction can be estimated reliably on the balance sheet date, revenue from
rendering of service shall be recognized at the percentage-of-completion method. The percentage of completion of
rendering of service is determined based on the proportion of services that is already rendered in the total amount
of service that is supposed to be rendered.
The total amount of revenue from rendering of service is determined at the contract or agreement price received or
receivable, unless such price received or receivable is unfair. The revenue from rendering of service for the current
period shall be recognized at the total amount of revenue from rendering of service, multiplying the progress of
completion and deducting the revenue from rendering of service accumulated and recognized in the previous
accounting period. Meanwhile, the costs of rendering of service for the current period shall be carried forward at
the total estimated costs of rendering of service, multiplying the progress of completion and deducting the costs of
rendering of service accumulated and recognized in the previous accounting period.
When the outcome of a service transaction cannot be estimated reliably on the balance sheet date, revenue shall be
treated as follows:
(1) If the service costs incurred are expected to be fully compensated, revenues from rendering of service are
recognized at the service costs incurred, and the service costs should be carried forward by the same amount.
(2) If the service costs incurred are not expected to be compensated, revenues from rendering of service are not
recognized and the service costs incurred are included in the current profit and loss.
(4) While income from labor service provided and income of construction contract recognized by
percentage-of-completion method, basis and methods for recognize the completion progress of contract
Nil
53
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
27. Government subsidies
(1) Types
Government subsidies are monetary assets and non-monetary assets acquired free of charge by the Company
from the government. Government subsidies are classified into government subsidies related to assets and
government subsidies related to income.
(2) Accounting policy
Government subsidies related to acquisition and construction of fixed assets, intangible assets and other
long-term assets are recognized as deferred income, and included in non-operating income by stages within
the useful life of the assets acquired and constructed;
If government subsidies related to income are used to compensate the enterprise’s relevant expenses or losses
in future periods, such government subsidies should be recognized as deferred income on acquisition and be
included into the current non-operating income in the period of recognizing relevant expenses; if government
subsidies related to income are used to compensate the enterprise’s relevant expenses or losses incurred, such
government subsidies are directly included into the current non-operating income on acquisition.
28. Deferred income tax assets and deferred income tax liabilities
(1) Basis of recognition of deferred income tax assets
Deductible temporary differences are recognized as deferred income tax assets to the extent that it shall not exceed
future taxable income possibly available to be against the deductible temporary difference. Deductible temporary
differences are recognized as deferred income tax liabilities except in special circumstances.
(2) Basis of recognition of deferred income tax liability
Special circumstances in which deferred income tax assets or deferred income tax liabilities shall not be
recognized include: the initial recognition of goodwill; other transactions or matters excluding business
combinations, which affect neither accounting profits nor the taxable income (or deductible losses) when
occurred. If the Company has the legal right of netting and intends to settle in net amount or to obtain assets
and discharge liabilities simultaneously, the income tax assets and income tax liabilities of the Company for
the current period shall be presented based on the net amount after offset. When the Company has the legal
rights to balance income tax assets and income tax liabilities in current period with net settlement, and
deferred income tax assets and deferred income tax liabilities are related to the income tax which imposed on
the same taxpaying subject by the same tax collection authority or to different tax paying subjects, but, in
each important future period in connection with the reverse of deferred income tax assets and liabilities, the
involved tax paying subject intends to balance income tax assets and liabilities in current period with net
settlement at the time of obtaining assets and discharging liabilities, deferred income tax assets and deferred
income tax liabilities of the Company shall be presented based on the net amount after offset.
54
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
29. Operating lease, financing lease
(1) Accounting of operating lease
Accounting of leased assets: Lease fees paid by the Company for leased asset shall be amortized at
straight-line method over the whole lease period (including rent-free period) and shall be included in the
current expenses. Initial direct costs related to lease transactions paid by the Company shall be included in
the current expenses.
If the expense related to the lease which shall be paid by the Company is assumed by the lessor of the asset,
such expenses shall be deducted from total lease fees, and residual lease fees shall be amortized over the
lease period and included in the current expenses.
Accounting of leasing assets: Lease fees received by the Company from leasing assets shall be amortized at
straight-line method over the whole lease period (including rent-free period), and shall be recognized as lease
income. Initial direct costs related to lease transactions paid by the Company shall be included in the current
expenses; if the amount is large, it shall be capitalized, and shall be included in the current income by stages
within the whole lease period on same basis for recognition of lease income.
If the expenses related to the lease which shall be paid by the lessee are borne by the Company, such
expenses shall be deducted from total lease income by the Company, and residual lease fees shall be
amortized over the lease period.
(2) Accounting of financing lease
Nil
(3) Accounting of leaseback
Nil
30. Assets held for sales
(1) Recognition of assets held for sales
Nil
(2) Accounting treatment of assets held for sales
Nil
31. Assets securitization
Nil
32. Hedge accounting
Nil
33. Adjustments for changes in principal accounting policies and estimates
Whether the principal accounting policies and estimates have changed in reporting period or not
□ Yes √ No
Nil
(1) Adjustments for changes in accounting policies
Whether have changes in accounting policies or not
55
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
□ Yes √ No
Nil
(2) Adjustments for changes in accounting estimates
Whether have changes in accounting estimates or not
□ Yes √ No
Nil
33. Correction of accounting errors in previous period
Whether correction of accounting errors in previous period occurred in reporting period or not
□ Yes √ No
Nil
(1) Retrospective restatement method
Whether has accounting errors of previous period with retrospective restatement method in reporting period or not
□ Yes √ No
Nil
(2) Prospective application method
Whether has accounting errors of previous period with prospective application method in reporting period or not
□ Yes √ No
Nil
35. Other principal accounting policies and estimates as well as formulation method of financial statement
Nil
V. Taxation
1. Major tax types and tax rates applicable to the Company
Taxation Basis of tax assessment Tax rate
Value added tax (VAT) Revenue from sale of goods 3%
Business tax Operating income 5%
Urban maintenance and construction tax Turnover tax 7%
Education surcharge Turnover tax 3%
Local education surcharge Turnover tax 2%
Remaining value after deducting 30% of the
Property tax 1.2%
original value of houses (including land price)
Land use tax Land area 18 Yuan/ ㎡
Enterprise income tax Income tax payable 25%
Income tax rates implemented by vary companies and branch plants
Nil
2. Tax preference and approvals
Nil
56
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
3. Other explanation
Nil
VI. Business combination and consolidated financial statements
1. Subsidiary
Nil
2. Operational entity with controlling rights form through entrust operation or accepting leases from
special purpose entity
Nil
3. Explanation on changes of consolidation scope
Explanation on changes of consolidation scope
Nil
□ Applicable √ Not applicable
4. Subject newly in consolidation scope and subject excluding the consolidation scope in reporting period
Nil
5. Enterprise consolidation under the same control in reporting period
Nil
6. Enterprise consolidation not under the same control in reporting period
Nil
7. Subsidiary reduced due to the equity with control losses sold in reporting period
Nil
8. Counter purchase occurred in reporting period
Nil
9. Consolidation by merger in reporting period
Nil
57
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
10. Discount rate on main statement items of overseas operational entity
Nil
VII. Notes to the main items of financial statements
1. Monetary funds
In RMB
Closing amount Opening amount
Item Foreign currency Conversion Foreign currency Conversion
RMB amount RMB amount
amount rate amount rate
Cash -- -- 542,076.87 -- -- 613,560.04
RMB -- -- 542,076.87 -- -- 613,560.04
Bank deposit -- -- 6,149,325.27 -- -- 6,209,144.39
RMB -- -- 6,149,325.27 -- -- 6,209,144.39
Other monetary funds -- -- -- -- 12,981.03
RMB -- -- -- -- 12,981.03
Total -- -- 6,691,402.14 -- -- 6,835,685.46
Explanation separately on accounts with use restriction, account save overseas and accounts has potential collected risk that due to
pledge, mortgage or frozen
Nil
2. Transactional financial assets
Nil
3. Notes receivables
Nil
4. Dividend receivables
Nil
5. Interests receivables
Nil
6. Accounts receivable
(1) Accounts receivable by type
In RMB
Type Closing amount Opening amount
Book balance Bad debt reserve Book balance Bad debt reserve
58
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Proportio
Amount Proportion Amount Amount Proportion Amount Proportion
n
Accounts receivable with
large single amount and
1,339,625.51 24.28% 1,339,625.51 100.00% 1,339,625.51 24.14% 1,339,625.51 100.00%
accrued for provision of bad
debt on a single basis
Accounts receivable accrued for provision of bad debt by portfolio
Accounts receivable accrued
for provision of bad debt by 4,178,579.57 75.72% 699,431.52 16.74% 4,208,809.28 75.86% 699,431.52 16.52%
portfolio
Portfolio subtotal 4,178,579.57 75.72% 699,431.52 16.74% 4,208,809.28 75.86% 699,431.52 16.52%
Accounts receivable with
insignificant single amount
0.00 0.00% 0.00 0.00%
but accrued for provision of
bad debt on a single basis
Total 5,518,205.08 -- 2,039,057.03 -- 5,548,434.79 -- 2,039,057.03 --
Explanation on type of account receivable
Nil
Accounts receivable with large single amount and accrued for provision of bad debt on a single basis at
period-end
√Applicable □Not applicable
In RMB
Accounts receivable Book balance Bad debt reserve Accrual proportion Reason for accrual
Unable to recover for
Sanya Power Supply Company 773,409.98 773,409.98 100.00%
the long aging
Hainan Hong Kong & Macao Unable to recover for
464,563.21 464,563.21 100.00%
International Tourism Ltd. the long aging
Unable to recover for
Reception of Sanya Municipal 101,652.32 101,652.32 100.00%
the long aging
Total 1,339,625.51 1,339,625.51 -- --
Accounts receivable accrued for provision of bad debt by aging analysis method in portfolio
√Applicable □Not applicable
In RMB
Closing amount Opening amount
Age Book balance Book balance
Bad debt reserve Bad debt reserve
Amount Proportion Amount Proportion
Within 1 year
Including: -- -- -- -- -- --
59
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
1 month to 12
2,530,143.08 60.55% 2,560,372.79 60.83%
months
Subtotal of within
2,530,143.08 60.55% 2,560,372.79 60.83%
1 year
1-2 years 857,441.57 20.52% 42,872.08 857,441.57 20.37% 42,872.08
2-3 years 22,659.00 0.54% 3,398.85 22,659.00 0.54% 3,398.85
Over 3 years 768,335.92 18.39% 653,160.59 768,335.92 18.26% 653,160.59
3-4 years 108,094.91 2.59% 27,023.73 108,094.91 2.57% 27,023.73
4-5 years 68,208.29 1.63% 34,104.14 68,208.29 1.62% 34,104.14
Over 5 years 592,032.72 14.17% 592,032.72 592,032.72 14.07% 592,032.72
Total 4,178,579.57 -- 699,431.52 4,208,809.28 -- 699,431.52
Account receivables accrued for provision of bad debt by balance percentage method in portfolio
□ Applicable √ Not applicable
Account receivables accrued for provision of bad debt by other method in portfolio
□ Applicable √ Not applicable
Accounts receivable with insignificant single amount but accrued for provision of bad debt on a single basis at
period-end
□ Applicable √ Not applicable
(2) Accounts receivable switch-back or collected in reporting period
Nil
(3) Accounts receivable actually verified in reporting period
Nil
(4) Amount due from shareholder holding more than 5% (inclusive) voting shares of the Company among
ending balances
In RMB
Closing amount Opening amount
Company name Provision for bad Provision for bad
Book balance Book balance
debts debts
Luoniushan Co., Ltd. 16,615.70 0.00 19,977.00 0.00
Total 16,615.70 0.00 19,977.00 0.00
(5) Top five accounts receivable
In RMB
60
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Relationship with Proportion in total
Company name Amount Term
the Company accounts receivable (%)
Sanya Haiyuan Hotel Management Ltd. Non-related party 2,986,487.99 Within 1 year 54.12%
Sanya Power Supply Company Non-related party 775,304.98 Within 5 years 14.05%
Hainan Hong Kong & Macao International
Non-related party 464,563.21 Within 5 years 8.42%
Tourism Ltd.
Hainan Haiyuan Aoda Travel Agency Co.,
Non-related party 150,065.00 Within 1 year 2.72%
Ltd. Chengdu Branch
Hainan Chenda International Tourism Ltd. Non-related party 107,640.00 Within 1 year 1.95%
Total -- 4,484,061.18 -- 81.26%
(6) Account receivable from related parties
In RMB
Proportion in total accounts
Company name Relationship with the Company Amount
receivable
Luoniushan Co., Ltd. First majority shareholder 16,615.70 0.30%
Total -- 16,615.70 0.30%
(7) De-recognition of account receivable
Nil
(8) Securitization with object of account receivables, listed the amount of assets and liability that continues
to involved
Nil
7. Other receivables
(1) Other receivables by type
In RMB
Closing amount Opening amount
Type Book balance Bad debt reserve Book balance Bad debt reserve
Proportio Proportio Proporti Proportio
Amount Amount Amount Amount
n n on n
Other receivables with large
single amount and accrued 77,363,143.31 95.16% 77,363,143.31 100.00% 77,363,143.31 94.93% 77,363,143.31 100.00%
for provision of bad debt on
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
a single basis
Other receivables accrued for provision of bad debt by portfolio
Other receivables accrued
for provision of bad debt by 3,932,648.27 4.84% 835,627.92 21.25% 4,134,679.28 5.07% 835,627.92 20.21%
portfolio
Portfolio subtotal 3,932,648.27 4.84% 835,627.92 21.25% 4,134,679.28 5.07% 835,627.92 20.21%
Total 81,295,791.58 -- 78,198,771.23 -- 81,497,822.59 -- 78,198,771.23 --
Explanation on type of other receivables
Nil
Other receivables with large single amount and accrued for provision of bad debt on a single basis at period-end
√Applicable □Not applicable
In RMB
Other receivables Book balance Bad debt amount Accrual proportion Reasons
Hainan Dadonghai Tourism
54,767,945.15 54,767,945.15 100.00% Unable to recover
Co., Ltd.
Cash dividends distributed in
16,899,000.00 16,899,000.00 100.00% Unable to recover
1994-1996
Hainan Hong Kong & Macao
4,145,704.16 4,145,704.16 100.00% Unable to recover
International Tourism Ltd.
Guangdong Jinma Tourism
1,200,494.00 1,200,494.00 100.00% Unable to recover
Ltd.
Shareholder custody fee 350,000.00 350,000.00 100.00% Unable to recover
Total 77,363,143.31 77,363,143.31 -- --
Other receivables accrued for provision of bad debt by aging analysis method in portfolio
√Applicable □Not applicable
In RMB
Closing amount Opening amount
Age Book balance Book balance
Bad debt reserve Bad debt reserve
Proporti Proporti
Amount Amount
on on
Within 1 year
Including:
1-12 months 1,094,245.61 27.82% 1,296,276.62 31.35%
Subtotal of within 1 year 1,094,245.61 27.82% 1,296,276.62 31.35%
1-2 years 2,107,235.61 53.58% 2,107,235.61 50.96% 105,361.77
2-3 years 288.70 0.01% 288.70 0.01% 43.31
Over 3 years 730,878.35 18.58% 730,878.35 17.68%
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
3-4 years 707.36 0.02% 176.85 707.36 0.02% 176.85
4-5 years 250.00 0.01% 125.00 250.00 0.01% 125.00
Over 5 years 729,920.99 18.56% 729,920.99 729,920.99 17.65% 729,920.99
Total 3,932,648.27 -- 4,134,679.28 -- 835,627.92
Other account receivables accrued for provision of bad debt by balance percentage method in portfolio
□ Applicable √ Not applicable
Other account receivables accrued for provision of bad debt by other method in portfolio
□ Applicable √ Not applicable
Other receivables with insignificant single amount but accrued for provision of bad debt on a single basis at
period-end
□ Applicable √ Not applicable
(2) Other accounts receivable switch-back or collected in reporting period
Nil
(3) Other accounts receivable actually verified in reporting period
Nil
(4) Amount due from shareholders holding more than 5% (inclusive) voting shares of the Company among
other receivables as at December 31, 2012.
Nil
(5) Nature or content of other receivables with significant amount
Nil
(6) Top five other receivables
In RMB
Relationship with Proportion in total other
Company name Amount Term
the Company receivables
Hainan Dadonghai Tourism Co.,
Non-related party 54,767,945.15 Over 5 years 67.37%
Ltd.
Cash dividends distributed in
Non-related party 16,899,000.00 Over 5 years 20.79%
1994-1996
Hainan Hong Kong & Macao
Non-related party 4,145,704.16 Over 5 years 5.10%
International Tourism Ltd.
Sanya Haiyuan Hotel Management Non-related party 2,808,368.63 Over 1 year 3.45%
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Ltd.
Guangdong Jinma Tourism Ltd. Non-related party 1,200,494.00 Over 5 years 1.48%
Total -- 79,821,511.94 -- 98.19%
(7) Other account receivable from related parties
Nil
(8) De-recognition other account receivable
Nil
(9) Securitization with object of other account receivables, listed the amount of assets and liability that
continues to involved
Nil
(10) Government subsidy recognized based on account receivable at period-end
Nil
8. Prepayments
(1) Prepayments by aging
In RMB
Closing amount Opening amount
Age
Amount Proportion Amount Proportion
Within 1 year 134,694.62 100.00% 201,053.21 100.00%
Total 134,694.62 -- 201,053.21 --
Explanation on prepayment
Nil
(2) Top five prepayments
In RMB
Relationship
Company name with the Amount Time Reason for unsettlement
Company
Without render an
Sanya Yangfan Hardware Firms Non-related 48,597.00 1-2 years
account
64
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Haina Branch of Sunshine Property & Without render an
Non-related 24,602.62 Within 1 year
Casualty Insurance Company account
Without render an
Sanya Zhiyuan Furnishings Store Non-related 14,250.00 1-2 years
account
Hainan Jian Automatic Fire Engineering Co., Without render an
Non-related 12,000.00 Within 1 year
Ltd. account
Without render an
Sanya Morning Post Non-related 10,800.00 Within 1 year
account
Total -- 110,249.62 -- --
Explanation for major unit prepayment
Nil
(3) Amount due from shareholder holding more than 5% (inclusive) voting shares of the Company among
ending balances of prepayment from related parties
Nil
(4) Explanation on prepayment
Nil
9. Inventories
(1) Classification of inventories
In RMB
Closing amount Opening amount
Item Provision for Provision for
Book balance Book value Book balance Book value
depreciation depreciation
Raw materials 1,019,413.50 747,043.57 272,369.93 1,028,333.60 748,096.33 280,237.27
Stock commodities 22,771.38 11,102.41 11,668.97 22,771.38 11,102.41 11,668.97
Food and drinks 15,142.68 15,142.68 11,486.19 11,486.19
Fuel 15,600.00 15,600.00 13,941.80 13,941.80
Total 1,072,927.56 758,145.98 314,781.58 1,076,532.97 759,198.74 317,334.23
(2) Inventory depreciation reserve
In RMB
Category of Book balance at Decreased in the Period Book balance at
Accrual in the Period
inventories period-begin Reversal Write-off period-end
65
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Raw materials 748,096.33 1,052.76 747,043.57
Stock commodities 11,102.41 11,102.41
Total 759,198.74 1,052.76 758,145.98
3) Particular about inventory depreciation reserve
Nil
10. Other current assets
Nil
11. Financial assets available for sale
Nil
12. Held-to-maturity investment
Nil
13. Long-term account receivable
Nil
14. Investment for affiliated enterprise and joint ventures
Nil
15. Long-term equity investment
(1) Details of long-term equity investment
In RMB
Explanation
Proport Impai
Inc on the
ion of rment
rea incongruity
Proportio voting provi Cash
se/ in share
Calculati n of share rights sion bonu
Investment Balance at de Balance at holding Impairment
Invested company on holding in in of s this
cost period-begin cre period-end proportion provision
method invested investe accrui perio
ase and voting
company d ng d
(+, proportion
compan this
-) in invested
y year
company
Shenzhen Difu
Investment & Cost 5,000,000.00 5,000,000.00 5,000,000.00 14.28% 5,000,000.00
Development Ltd.
Hubei Jingsha
Dadonghai Club Cost 4,566,207.42 4,566,207.42 4,566,207.42 91.00% 4,566,207.42
Ltd.
Sanya Shun’an
Cost 5,150,166.84 5,150,166.84 5,150,166.84 70.00% 5,150,166.84
Casino
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Haikou
Luoniushan 10,000,000.0 10,000,000.0 10,000,000.0
Cost 9.09%
Petty-Loan Co., 0 0 0
Ltd
24,716,374.2 24,716,374.2 24,716,374.2 14,716,374.2
Total -- -- -- --
6 6 6 6
(2) Relevant particular about restriction of the ability of capital transfer to investment enterprises
Nil
16. Investment real estate
Nil
17. Fixed assets
(1) Particular about fixed assets
In RMB
Book balance at Decreased in the Book balance at
Item Increase in this period
period-begin Period period-end
I. Total original book value: 187,432,381.94 559,488.00 69,480.00 187,922,389.94
Including: Buildings and
156,679,569.41 156,679,569.41
constructions
Machinery
13,858,617.00 13,858,617.00
equipment
Transportation
1,635,734.77 455,588.00 65,280.00 2,091,322.77
facility
Electronic equipment 2,895,261.78 103,900.00 4,200.00 2,933,881.78
Other equipment 2,248,275.09 2,244,075.09
Improvement 10,114,923.89 10,114,923.89
Book balance at Increase during Accrual in this Decreased in the Balance at
--
period-begin this period period Period period-end
II. Total accumulated
91,604,335.78 2,414,315.37 63,940.41 93,954,710.74
depreciation:
Including: Buildings and
68,907,346.70 1,815,399.63 70,722,746.33
constructions
Machinery
8,832,534.14 178,082.46 9,010,616.60
equipment
Transportation
762,866.36 77,824.58 840,690.94
facility
Electronic equipment 1,979,777.20 172,677.51 60,947.91 2,091,506.80
67
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Other equipment 1,361,038.06 96,898.81 2,992.50 1,454,944.37
Improvement 9,760,773.32 73,432.38 9,834,205.70
Book balance at Balance at
-- --
period-begin period-end
III. Total net book value of
95,828,046.16 -- 93,967,679.20
fixed assets
Including: Buildings and
87,772,222.71 -- 85,956,823.08
constructions
Machinery
5,026,082.86 -- 4,848,000.40
equipment
Transportation
872,868.41 -- 1,250,631.83
facility
Electronic equipment 915,484.58 -- 842,374.98
Other equipment 887,237.03 -- 789,130.72
Improvement 354,150.57 -- 280,718.19
IV. Total provision for
35,199,140.69 -- 35,199,140.69
impairment
Including: Buildings and
32,449,653.81 -- 32,449,653.81
constructions
Machinery
2,527,851.26 -- 2,527,851.26
equipment
Electronic equipment 21,643.05 -- 21,643.05
Other equipment 199,992.57 -- 199,992.57
Improvement --
V. Total book value of fixed
60,628,905.47 -- 58,768,538.51
assets
Including: Buildings and
55,322,568.90 -- 53,507,169.27
constructions
Machinery
2,498,231.60 -- 2,320,149.14
equipment
Transportation
872,868.41 -- 1,250,631.83
facility
Electronic equipment 893,841.53 -- 820,731.93
Other equipment 687,244.46 -- 589,138.15
Improvement 354,150.57 -- 280,718.19
RMB 2,414,315.37 depreciated in this period; original price transfer as fixed assets from construction in process was RMB0.00
68
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
(2) Temporary idle fixed assets
In RMB
Accumulative
Item Original book value Impairment reserves Net book value Note
depreciation
Other equipment 230,710.58 20,306.92 199,992.57 10,411.09
(3) Fixed assets leasing-in by financing lease
Nil
(4) Fixed assets leasing-out by operational lease
Nil
(5) Fixed assets held for sale in period-end
Nil
(6) Fixed assets without property certificates
Nil
18. Construction in process
Nil
19. Construction materials
Nil
20. Disposal of fixed assets
Nil
21. Productive biological assets
Nil
23. Intangible assets
(1) Particular about intangible assets
In RMB
Book balance at Book balance at
Item Increase in this period Decreased in the Period
period-begin period-end
I. Total original book value 87,833,001.74 87,833,001.74
Land use right 87,833,001.74 87,833,001.74
II. Total accumulated
29,902,202.33 447,470.52 30,349,672.85
amortization
Land use right 29,902,202.33 447,470.52 30,349,672.85
III. Total net book value of
57,930,799.41 -447,470.52 57,483,328.89
intangible assets
Land use right 57,930,799.41 -447,470.52 57,483,328.89
69
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
IV. Total impairment
29,343,890.98 29,343,890.98
provisions
Land use right 29,343,890.98 29,343,890.98
Total book value of
28,586,908.43 -447,470.52 28,139,437.91
intangible asset
Land use right 28,586,908.43 -447,470.52 28,139,437.91
The amount amortized in this period accounting as 447,470.52 Yuan
(2) Expenditure of project development
Nil
24. Goodwill
Nil
25. Long-term deferred expense
In RMB
Increase in this Amortization Reasons for other
Item Opening amount Other decrease Closing amount
period during this period decrease
Painting of Hotel’s
490,880.02 147,264.06 343,615.96
external wall
Roof waterproof 91,666.75 49,999.98 41,666.77
Total 582,546.77 197,264.04 385,282.73 --
Explanation on long-term deferred expenses
Nil
26. Deferred income tax assets and deferred income tax liabilities
Nil
27. Provision for assets impairment
In RMB
Book balance at Increase in this Decreased in the Period Book balance at
Item
period-begin period Reversal Write-off period-end
I. Bad debt reserve 80,237,828.26 80,237,828.26
II. Inventory depreciation
759,198.74 1,052.76 758,145.98
reserve
V. Long-term equity
investment impairment 14,716,374.26 14,716,374.26
provision
VII. Provision for impairment
35,199,140.69 35,199,140.69
of fixed assets
70
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
IX. Provision for construction
0.00 0.00 0.00
in progress
XII. Provision for impairment
29,343,890.98 29,343,890.98
of intangible assets
XIII. Provision for
0.00
impairment of goodwill
Total 160,256,432.93 1,052.76 160,255,380.17
Explanation on provision for assets impairment
Nil
28. Other non-current assets
Nil
29. Short-term loans
Nil
30. Transactional financial liabilities
Nil
31. Note payable
Nil
32. Accounts payable
(1) Accounts payable
In RMB
Item Closing amount Opening amount
Within 1 year(including 1 year) 1,180,001.27 1,142,768.95
1-2 years (including 2 years) 145,272.00 145,272.00
2-3 years (including 3 years) 376,032.08 376,032.08
Over 3 years 507,882.93 507,882.93
Total 2,209,188.28 2,171,955.96
(2) Amount payable from shareholders holding more than 5% (inclusive) voting shares of the Company
among ending balances.
Nil
71
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
(3) Accounts payable with large amount and aging of over one year
Nil
33. Accounts received in advance
(1) Accounts received in advance
In RMB
Item Closing amount Opening amount
Within 1 year (including 1 year) 626,190.89 1,010,172.16
1-2 years (including 2 years) 185,737.68 185,737.68
2-3 years (including 3 years) 232,497.38 232,497.38
Over 3 years 171,587.59 171,587.59
Total 1,216,013.54 1,599,994.81
(2) Amount received in advance from shareholders holding more than 5% (inclusive) voting shares of the
Company among ending balances
Nil
(3) Accounts received in advance with large amount and aging of over one year
Company name Closing balance Reasons for not Note
carry forward
Hainan Sea-view Paradise International Co., Ltd, Sanya 104,170.40 Account
Wuzhizhou Island Resort unsettled
34. Wages payable
In RMB
Book balance at Book balance at
Item Increase in this period Decreased in the Period
period-begin period-end
I. Salary, bonus,
allowance and 2,852,036.47 3,459,459.37 4,021,747.43 2,289,748.41
subsidy
II. Employee welfare 551,792.17 551,792.17
III. Social insurance
546,548.68 546,548.68
expense
Including : medical
155,108.34 155,108.34
insurance expenses
72
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Basic
endowment 350,723.20 350,723.20
insurance expenses
Annuity
Unemployment 19,389.85 19,389.85
insurance expenses
Work injury
9,692.31 9,692.31
insurance expenses
Maternity insurance
11,634.98 11,634.98
expenses
IV. Housing
54,303.80 54,303.80
provident funds
VI. Others 697,814.57 116,980.21 60,817.83 753,976.95
Total 3,549,851.04 4,729,084.23 5,235,209.91 3,043,725.36
Default amount in employee compensation payable was 0.00
Labor union expenditure and employee education funds was 0.00 Yuan, non-monetary welfare was 0.00 Yuan and compensation for
labor service terminated was 0.00 Yuan
Arrangement of pay date and amount for employee compensation payable
Nil
35. Tax payable
In RMB
Item Closing amount Opening amount
Value added tax 135,982.62 135,982.62
Business tax 38,903.08 111,018.40
Enterprise income tax -1,702,702.80 -1,702,702.80
Urban maintenance and construction tax 2,723.22 7,771.29
Educational surtax 1,945.15 5,550.92
Property tax 204,986.70 204,986.58
Land use tax 108,590.92 72,393.00
Total -1,209,571.11 -1,164,999.99
For the mutual adjustment on taxable amount between vary companies and plants, authorized by local taxation bureau, explain the
taxation procedures
Nil
36. Interest payable
Nil
73
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
37. Dividend payable
Nil
38. Other payables
(1) Other payables
In RMB
Item Closing amount Opening amount
Within 1 year (including 1 year) 1,253,398.43 2,458,050.52
1-2 years (including 2 years) 308,551.68 308,551.68
2-3 years (including 3 years) 122,605.47 122,605.47
Over 3 years 23,003,005.34 23,003,005.34
Total 24,687,560.92 25,892,213.01
(2) Amount due to shareholders holding more than 5% (inclusive) voting shares of the Company among
ending balances
In RMB
Company name Closing amount Opening amount
Luoniushan Co., Ltd. 800,000.00 800,000.00
Total 800,000.00 800,000.00
(3) Other payables with large amount and aging of over one year
Company name Closing balance Reasons of un-repay Note
China Securities Regulatory Commission 19,810,000.00 Financial difficulty
Sun Hongjie 1,000,000.00 Guarantee deposit
Luoniushan Co., Ltd. 800,000.00 Related debt
Hong Kong Deloitte Touche Tohmatsu 285,003.21 Audit fees
Total 21,895,003.21
(4) Other payables with large amount
Company name Closing balance Nature or content Note
China Securities Regulatory Commission 19,810,000.00 Fine for rule-breaking
operation on the stock of the
74
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Company
Sun Hongjie 1,000,000.00 Guarantee deposit
Luoniushan Co., Ltd. 800,000.00 Corresponding payment
593,372.66
Sanya Dadonghai Donghai Dragon Palace Food Consumption and deposit
City collected
285,003.21
Hong Kong Deloitte Touche Tohmatsu Auditing charge
22,488,375.87
39. Accrual liability
Nil
40. Non-current liability due within one year
Nil
41. Other current liability
Nil
42. Long-term loan
Nil
43. Bond payable
Nil
44. Long-term account payable
Nil
45. Specific payable
Nil
46. Other non-current liability
Nil
47. Share capital
In RMB
Increased /decreased(+,-)
Opening Closing
amount New shares Share capital amount
Shares granted Others Sub-total
issued converted from
75
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
reserve fund
Total shares 364,100,000.00 364,100,000.00
Explanation on changes of share capital: For the capital increased/decreased in reporting period, disclosed accounting firms that
exercise verification and document serial of Verification Report; for company limited by shares established less in three years,
explain the net assets of the year before established; for company limited by shares changed from limited liability company, explain
the verification condition while established
Nil
48. Treasury stock
Explanation on treasury stock
Nil
49. Reasonable reserves
Explanation on reasonable reserves
Nil
50. Capital reserves
In RMB
Decreased in the
Item Opening amount Increase in this period Closing amount
Period
Capital (share capital) premium 33,336,215.58 33,336,215.58
Other capital reserves 20,806,634.43 20,806,634.43
Total 54,142,850.01 54,142,850.01
Explanation on capital reserves
Nil
51. Surplus reserves
Nil
52. General risk reserves
Explanation on general risk reserves
Nil
53. Retained profits
In RMB
Item Amount Proportion of appropriation
76
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
or distribution
Retained profit of year-end of last year before
-336,331,002.15 --
adjustment
Retained profit of year-begin after adjustment -336,331,002.15 --
Plus: net profit attributable to owner of parent
-848,458.96 --
company in the period
Retained profits as at period-end -337,179,461.11 --
Adjustment of undistributed profit at year-begin:
1) For the retroactive adjustment based on Accounting Standards for Business Enterprises and other relevant regulations, affected
undistributed profit at year-begin of RMB
2) For changes of accounting policies, affected undistributed profit at year-begin of RMB
3) For correction on major accounting errors, affected undistributed profit at year-begin of RMB
4) For changes of consolidation scope from same controlling, affected undistributed profit at year-begin of RMB
5) Other adjustment totally affected undistributed profit at year-begin of RMB
Explanation on undistributed profit
For company initially public offering securities, well explained that if the accumulated profit before offering, being decided by
shareholders’ general meeting, shares by old and new shareholders; for the accumulated profit before offering, being decided by
shareholders’ general meeting, distribute before offering and shares by old shareholders, well disclosed the audited profit shares by
old shareholders in dividend payable
Nil
54. Operating income and operating costs
(1) Operating income and operating costs
In RMB
Item Amount of this period Amount of last period
Income from primary business 11,686,452.00 14,778,787.50
Operating costs 5,336.51 5,091.20
(2) Primary business (by industry)
In RMB
Amount of this period Amount of last period
Industry
Operating income Operating cost Operating income Operating cost
Tourism, catering and service
11,686,452.00 5,336.51 14,778,787.50 5,091.20
industry
Total 11,686,452.00 5,336.51 14,778,787.50 5,091.20
77
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
(3) Primary business (by products)
In RMB
Amount of this period Amount of last period
Product
Operating income Operating cost Operating income Operating cost
Guest room 11,686,452.00 5,336.51 14,778,787.50 5,091.20
Total 11,686,452.00 5,336.51 14,778,787.50 5,091.20
(4) Primary business (by region)
In RMB
Amount of this period Amount of last period
Region
Operating income Operating cost Operating income Operating cost
Hainan region 11,686,452.00 5,336.51 14,778,787.50 5,091.20
Total 11,686,452.00 5,336.51 14,778,787.50 5,091.20
(5) Business income from top five customers
In RMB
Name of customer Total business income Proportion in total business income of the Company
PEGAS Zheng Qingbo 1,930,158.00 16.52%
Ji Jinjun 443,180.00 3.79%
Li Fei 384,304.00 3.29%
Shanghai Ctrip International
310,235.42 2.65%
Travel Co., Ltd.
Sanya Baishun International
214,996.00 1.84%
Tourism Ltd.
Total 3,282,873.42 28.09%
Explanation on business income
Nil
55. Income from contract projects
Nil
56. Business tax and surcharges
In RMB
Item Amount of this period Amount of last period Taxation basis
78
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Business tax 584,322.61 738,939.38 5%
Urban maintenance and construction
40,902.59 51,725.75 7%
tax
Educational surtax 17,529.67 22,168.18 3%
Local educational surtax 11,686.46 14,778.79 2%
Total 654,441.33 827,612.10 --
Explanation on business tax and surcharges
Nil
57. Sale expenses
In RMB
Item Amount of this period Amount of last period
Sale expenses 5,924,967.97 5,866,274.92
Total 5,924,967.97 5,866,274.92
58. Administrative expenses
In RMB
Item Amount of this period Amount of last period
Administrative expenses 5,961,388.09 8,568,614.42
Total 5,961,388.09 8,568,614.42
59. Financial expenses
In RMB
Item Amount of this period Amount of last period
Less: interest income -22,530.32 -40,154.79
Other 70,535.55 108,267.51
Total 48,005.23 68,112.72
60. Gains from changes of fair value
Nil
61. Gains on investment
Nil
79
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
62. Losses on assets impairment
Nil
63. Non-operating income
(1) Non-operating income
In RMB
Amount included in current
Item Amount of this period Amount of last period non-recurring profits or
losses
Total gains on disposal of non-current assets 200.00 110.00
Including: gain on disposal of fixed assets 200.00 110.00
Income from compensation 456,027.00 57,991.70 45,917.00
Other 14,540.76 17,954.65 14,540.76
Total 60,567.76 76,146.35
Explanation on non-operating income
Nil
(2) Government subsidy reckoned into current gains/losses
Nil
64. Non-operating expenses
In RMB
Amount included in
Item Amount of this period Amount of last period current non-recurring
profits or losses
Total losses on disposal of non-current assets 1,339.59 200.00 1,339.59
Including: loss on disposal of fixed assets 1,339.59 1,339.59
Penalty 1,200.00
Total 1,339.59 1,200.00 1,339.59
Explanation on non-operating expenses
Nil
80
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
65. Income tax expenses
In RMB
Item Amount of this period Amount of last period
66. Calculation of basic earnings per share and diluted earnings per share
1. Basic earnings per share
Basic earnings per share=P0÷S
S= S0+S1+Si×Mi÷M0–Sj×Mj÷M0–Sk
Of which, P0 represents net profit attributable to ordinary shareholders of the Company or net profits attributable
to ordinary shareholders after deducting non-recurring profits or losses; S represents the weighted average number
of outstanding ordinary shares; S0 represents total number of shares at the beginning of the period; S1 represents
shares increased from conversion of reserve fund into share capital or share dividend distribution in the reporting
period; Si represents shares increased from issue of new shares or conversion of debt into equity in the reporting
period; Sj represents the shares reduced from repurchase during the reporting period; Sk represents the number of
reduced shares during the reporting period; M0 represents number of months in the reporting period; Mi
represents the number of months from the month immediately following the increase of shares to the end of the
reporting period; Mj represents the number of months from the month immediately following the decrease of
shares to the end of the reporting period .
2. Diluted earnings per share
Diluted earnings per share = P1/(S0+S1+Si×Mi÷M0–Sj×Mj÷M0–Sk+ weighted average number of ordinary
shares increased from warrants, share options and convertible bonds).
Of which, P1 represents net profits attributable to ordinary shareholders of the Company or net profits attributable
to ordinary shareholders of the Company after deducting non-recurring profits or losses, and has been adjusted in
accordance with Accounting Standards for Business Enterprises and the relevant regulations after taking the effect
of dilutive potential ordinary shares into consideration. When calculating the diluted earnings per share, the
Company shall take into account all the effect of dilutive potential ordinary shares on net profits attributable to
ordinary shareholders of the Company or net profits attributable to ordinary shareholders of the Company after
deducting non-recurring profits or losses and the weighted average number of shares, and include in diluted
earnings per share according to the magnitude of dilution in an ascending order until the dilutive earnings per
share is reduced to the lowest level.
(1) Basic earnings per share
Basic earnings per share is calculated by dividing combined net profits attributable to ordinary shareholders of the
Company by weighted average number of outstanding ordinary shares of the Company:
81
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Item Amount of this period Amount of last period
Combined net profits attributable to ordinary shareholders of the -848,458.96 -481,971.51
Company
Weighted average number of outstanding ordinary shares of the 364,100,000.00 364,100,000.00
Company
Basic earnings per share (RMB per share) -0.0023 -0.0013
Calculation of weighted average number of ordinary shares:
Item Amount of this period Amount of last period
Number of ordinary shares issued as at January 1, 2012 364,100,000.00 364,100,000.00
Plus: weighted number of ordinary shares issued in 2012
Less: weighted number of ordinary shares repurchased in 2012
Weighted number of ordinary shares outstanding as at December 364,100,000.00 364,100,000.00
31, 2012
(2) Diluted earnings per share
Diluted earnings per share is calculated by dividing combined net profits attributable to ordinary shareholders of
the Company after adjustment by weighted average number of outstanding ordinary shares of the Company after
adjustment:
Item Amount of this period Amount of last period
Combined net profits attributable to ordinary shareholders of the Company -848,458.96 -481,971.51
(diluted)
Weighted average number of outstanding ordinary shares of the Company 364,100,000.00 364,100,000.00
(diluted)
Diluted earnings per share (RMB per share) -0.0023 -0.0013
67. Other comprehensive income
Nil
68. Notes to statement of cash flows
(1) Other cash receipts related to operating activities
In RMB
Item Amount
Interest income 22,530.32
Individual amounts 78,817.01
Compensation for articles in the guest rooms 45,917.00
Total 147,264.33
Explanation on other cash receipts related to operating activities
82
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Nil
(2) Cash paid for other operating activities
In RMB
Item Amount
Sale and administrative expenses 1,793,810.07
Financial expenses 68,881.15
Other 1,139,425.10
Total 3,002,116.32
Explanation on cash paid for other operating activities
Nil
(3) Cash received with other investment activities concerned
Nil
(4) Cash paid for other investment activities
Nil
(5) Cash received with other financing activities concerned
Nil
(6) Cash paid for other financing activities
Nil
69. Supplementary information of statement of cash flows
(1) Supplementary information of statement of cash flows
In RMB
Item Amount of this period Amount of last period
1. Net profit adjusted to cash flow from operating activities -- --
Net profit -848,458.96 -481,971.51
Depreciation of fixed assets, depletion of oil and gas assets
2,414,315.37 2,554,558.10
and depreciation of productive biological assets
Amortization of intangible assets 447,470.52 434,363.58
Amortization of long-term deferred expenses 197,264.04 197,264.04
Loss on disposals of fixed assets, intangible assets and 1,339.59 -200.00
83
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
other long-term assets("-" for gains)
Decrease in inventories ("-" for increases) 2,552.65 -12,556.11
Decrease in operating receivables ("-" for increases) -164,666.53 -8,329,538.41
Increase in operating payables ("-" for decreases) -2,034,900.00 8,585,574.42
Net cash flow from operating activities 14,916.68 2,947,494.11
2. Significant investing and financing activities not
-- --
involving cash inflow and outflow
3. Net changes in cash and cash equivalents -- --
Ending balance of cash 6,691,402.14 17,568,928.80
Less: beginning balance of cash 6,835,685.46 15,194,668.69
Net increase in cash and cash equivalents -144,283.32 2,374,260.11
(2) Subsidiary or other operation units obtained or disposed in reporting period
In RMB
Item Amount of this period Amount of last period
I. Subsidiary or other operation units obtained: -- --
II. Subsidiary or other operation units disposed: -- --
(3) Composition of cash and cash equivalents
In RMB
Item Closing amount Opening amount
I. Cash 6,691,402.14 6,835,685.46
Including: cash on hand 542,076.87 613,560.04
Bank deposit available for payment at any time 6,149,325.27 6,209,144.39
Other monetary funds available for payment at any
12,981.03
time
III. Ending balance of cash and cash equivalents 6,691,402.14 6,835,685.46
Explanation on supplementary information of statement of cash flows
Nil
70. Notes on items of changes of owner’s equity
Nil
VIII. Accounting treatment of assets securitization
Nil
84
司公限有份股心中游旅海东大南海 2014 文全告报度年半年
IX. Related Parties and Transactions
1. Parent company of the Company
Nil
2. Subsidiary of the Company
Nil
3. Details of joint-venture and affiliated enterprise of the Company
Nil
4. Particulars about other related parties
Other related parties Relationship with the Company Organization code
Luoniushan Co., Ltd. First majority shareholder 28408974-7
Explanation on other related parties:
As of 30 June 2014, Luoniushan Co., Ltd. holds 61.0903 million shares of the Company with 16.81 percent
occupied in total share capital of the Company, and it is the first majority shareholder of the Company.
5. Related transaction
(1) Statement of commodity purchased and labor service received
In RMB
Amount of this period Amount of last period
Pricing way and
Ratio in
Related party Content decision making Ratio in similar
Amount similar Amount
procedures transactions
transactions
Accommodation and
Luoniushan Co., Ltd. Market price 51,935.70 0.44% 196,416.66 1.32%
catering
Goods sold and labor service offering
Nil
(2) Related entrust/contract
Nil
(3) Related leasing
Nil
(4) Related guarantee
Nil
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
(5) Borrowed funds of related party
Nil
(6) Related party’s assets transfer and debt reorganization
Nil
(7) Other related transactions
Nil
6. Receivables and payables of related parties
Receivables from related parties by listed company
In RMB
period-end period-begin
Item Related party
Book balance Bad debt reserve Book balance Bad debt reserve
Accounts receivable Luoniushan Co., Ltd. 16,615.70 19,977.00
Payables to related parties by listed company
In RMB
Item Related party Amount as at period-end Amount as at period-begin
Other payables Luoniushan Co., Ltd. 800,000.00 800,000.00
X. Share-based payment
Nil
XI. Contingency
Nil
XII. Commitments
1. Material commitments
Nil
2. Commitments made previously
Luoniushan Co., Ltd. made commitments on 30 May 2007 in “Instruction of Split-Share Reform”(Revised) and
“Instruction of Split-Share Reform” (summary revised) as: given consequent years of loss, Dadonghai is facing to
be delisted. To reverse this operation dilemma, improve profitability and restore continuing operation, controlling
shareholder, Luoniushan Co., Ltd is seeking acquisition partners and appropriate time to take asset restructuring
on Dadonghai.
On 7 June 2014, the Company received the Letter of Changing the Commitment for DADONGHAI from
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Luoniushan Co., Ltd. from majority shareholder of the Company Luoniushan Co., Ltd. Luoniushan Co., Ltd.
decided to changed relevant commitments in line with the above said document. The original commitment
changed as: Luoniushan Co., Ltd. will look actively for the restructuring side for reorganization of DADONGHAI
in three years since the above said commitment changed has deliberated and approved by General Meeting of
DADONGHAI. And the matter has been deliberated and approved by Board of the Company, Supervisory of the
Committee and second extraordinary general meeting of 2014 held on 27 June 2014.
XIII. Event after balance sheet date
Nil
XIV. Other significant events
1. Non-monetary assets exchange
Nil
2. Debt reorganization
Nil
3. Enterprise combination
Nil
4. Leasing
Nil
5. Financial instrument issued and convertible to shares at period-end
Nil
6. Assets and liability measure by fair value
Nil
7. Foreign currency financial assets and foreign financial liability
Nil
8. Pension plan and major changes
Nil
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
9. Other
The Liabilities Statement on Objectives Operation and Management of South China Grand Hotel concluded by
and between the Company and Mr. Sun Hongjie has a term of five years, i.e., from May 1, 2011 to April 30, 2016.
According to stipulations in such Liabilities Statement on Objectives Operation and Management, during the
objectives operation and management period, the base profit index of internal assessment shall be RMB 1.1
million, and 60% of the excess over such base index shall be rewarded to Mr. Sun Hongjie and his management
team.
XV. Supplementary information
1. Current non-recurring gains/losses
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
-1,339.59
write-off that accrued for impairment of assets)
Other gains/losses satisfied definition of extraordinary profit
60,567.76
(gains)/loss
Total 59,228.17 --
Explain recognition reasons item-by-item if the government subsidy reckoned into current gains/losses was the recurring gains/losses
□ Applicable √ Not applicable
2. Difference of the accounting data under accounting rules in and out of China
(1) Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount in this period Amount in last period Closing amount Opening amount
Chinese GAAP -848,458.96 -481,971.51 81,063,388.90 81,911,847.86
Items and amount adjusted by IAS
By IAS -848,458.96 -481,971.51 81,063,388.90 81,911,847.86
(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
company company
Amount in this period Amount in last period Closing amount Opening amount
Chinese GAAP -848,458.96 -481,971.51 81,063,388.90 81,911,847.86
Items and amount adjusted by foreign accounting rules
Foreign accounting rules -848,458.96 -481,971.51 81,063,388.90 81,911,847.86
No difference.
(3) Reasons for the differences of accounting data under accounting rules in and out of China
Nil
3. ROE and EPS
In RMB
Weighted average EPS
Profit in the Period
ROE Basic EPS Diluted EPS
Net profit attributable to common shareholders of the
-1.04% -0.0023 -0.0023
Company
Net profit attributable to common shareholders of the
-1.11% -0.0025 -0.0025
Company after deducting non-recurring gains/losses
4. Abnormalities and reasons of the accounting statement items of the Company
Closing balance Opening balance
Changes
Item (or amount of this (or amount of last Reasons
(+,-) (%)
period) period)
Account paid in advance 134,694.62 201,053.21 -33.01% The carry-over amount on prepayment for good
purchased increased
Long-term deferred 385,282.73 582,546.77 -33.86% Amortized in the Period
expenses
Account received in 1,216,013.54 1,599,994.81 -24.00% The sales amount carried forward
advance
Operation revenue 11,686,452.00 14,778,787.50 -20.92% The increasingly horizontal competition is the result
of declined in revenue
Business tax and 654,441.33 827,612.10 -20.92% The revenue declined
surcharge
Administrative expenses 5,961,388.09 8,568,614.42 -30.43% Entertainment expenses declined due to the strictly
management and practice strict economy; withdrawal
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
for the bonus on over-quota of the hotel decreased
Financial expenses 48,005.23 68,112.72 -29.52% The revenue declined, and settlement handling charge
expenses declined
Operation profit -907,687.13 -556,917.86 62.98% The revenue declined, and cost expenses increased
Non-operation revenue 60,567.76 76,146.35 -20.46% Indemnity income and other revenue decreased
Ne profit -848,458.96 -481,971.51 76.04% The revenue declined, and cost expenses increased
Net cash flow arising 14,916.68 2,947,494.11 -99.49% The revenue decreased due to the market depressed,
from operation activities and the soaring cost
Net cash flow arising -159,200.00 -573,234.00 -72.23% The investment in fixed assets decreased
from investment activities
Closing balance of cash 6691402.14 17,568,928.80 -61.91% Jointly affected by the y-o-y decrease of net cash flow
and cash equivalent arising from operation activities and the y-o-y
decrease of net cash flow arising from investment
activities
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司公限有份股心中游旅海东大南海 2014 文全告报度年半年
Section X. Documents available for reference
I. Text of Semi-annual report 2014 with the signature of corporate of the Company.
II. Financial statement with signature and seal of legal person, person in charge of accounting works and person in
charge of accounting organ;
III. Text of the file and draft of the announcement under the name of the Company that released on website
appointed by CSRC in reporting period.
IV. Other relevant files
The above said documents are prepared in the security department of the Company
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Chairman: Li Yuanbin
26 August 2014
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