山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
Semi-Annual Report for Year of 2018
August 2018
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section I. Important Notice, Contents and Paraphrase
Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of Shandong Zhonglu Oceanic Fisheries 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.
Lu Lianxing, Principal of the Company, Zhao Minkun, person in charge of
accounting works and Lei Lixin, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of 2017 Annual
Report is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
The forward-looking statement set out in the annual report relating to the future
plan of the Company does not constitute the material commitment of the
Company for its investors. Therefore, investors and related stakeholders shall
hold sufficient awareness of the risks and should understand the difference
between plan, expectation and commitment.
Certain risks that may exist in the Company’s business operation and
countermeasures adopted by the Company are disclosed in the clause “X. Risks
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
and countermeasures” in the fourth section hereof headed “Discussion and
Analysis on Operation”, which shall be brought to attention of investors. This
report has been prepared in Chinese and English version respectively. In the event
of difference in interpretation between the two versions, Chinese report shall
prevail.
The Company has no plans of cash dividend distributed, no bonus shares and has
no share converted from capital reserve either
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Contents
Semi-annual Report 2018 .................................................................................................................. 1
Section I Important Notice and Paraphrase .................................................................................. 6
Section II Company Profile and Main Finnaical Indexes .............................................................. 6
Section III Summary of Company Business .................................................................................... 9
Section IV Discussion and Analysis of Business ............................................................................ 19
Section V Important Events ............................................................................................................ 18
Section VI Changes in shares and particular about shareholders……………………………...30
Section VII Preferred Stock ............................................................................................................ 31
Section VIII Particulars about Directors, Supervisors and Senior Executives .......................... 32
Section IX Corporate Bond ............................................................................................................. 56
Section X Financial Report ............................................................................................................. 33
Section XI Documents available for reference ............................................................................ 134
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Paraphrase
Items Refers to Contents
“The Company” or “Company” Refers to Shandong Zhonglu Oceanic Fisheries Co., Ltd.
Shandong State-owned Assets Investment Holding Company
"Shandong State-owned Assets Investment" Refers to
Limited
"Luxin Group" Refers to Shandong Luxin Investment Holding Company Limited
State-owned Assets Supervision and Administration Commission
"SASACP" Refers to
of Shandong Provincial Government
“CSRC” Refers to China Securities Regulatory Commission
“The report” Refers to Semi-Annual Report for 2018 compiled by the Company
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section II Company Profile and Main Finnaical Indexes
I. Company profile
Short form of the stock Zhonglu-B Stock code 200992
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
山东省中鲁远洋渔业股份有限公司
Chinese)
Short form of the Company
中鲁远洋
(in Chinese)
Foreign name of the Company
Shandong Zhonglu Oceanic Fisheries Company Limited
(if applicable)
Short form of foreign name of
ZLYY
the Company (if applicable)
Legal representative Lu Lianxing
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Li Ming Li Ying
No.65 Haier Road, Laoshan District, No.65 Haier Road, Laoshan District,
Contacts add.
Qingdao, Shandong Province Qingdao, Shandong Province
Tel. 0532-55717968 0532-55715968
Fax. 0532-55719258 0532-55719258
Email zl000992@163.com zl000992 @163.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 changed in reporting period,
found more in Annual Report 2017
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
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 2017.
IV. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √ No
Increase/decrease in this
Current period Same period of last year
report y-o-y
Operating revenue (RMB) 440,322,776.97 440,178,091.75 0.03%
Net profit attributable to shareholders of
22,601,899.21 32,001,590.86 -29.37%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting non- 22,614,705.64 31,391,015.10 -27.96%
recurring gains and losses(RMB)
Net cash flow arising from operating
21,814,612.31 17,876,156.54 22.03%
activities(RMB)
Basic earnings per share (RMB/Share) 0.08 0.12 -33.33%
Diluted earnings per share (RMB/Share) 0.08 0.12 -33.33%
Weighted average ROE 3.14% 5.05% -1.91%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end
Total assets (RMB) 1,103,935,265.57 1,065,483,763.80 3.61%
Net assets attributable to shareholder of
733,711,967.66 703,769,793.95 4.25%
listed company(RMB)
V. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
The Company has no 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 reporting period
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules
and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company has no 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 reporting period
VI. 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
-18,990.79
write-off that accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
433,292.74
national standards, which are closely relevant to enterprise’s
business)
Other non-operating income and expenditure except for the
-427,108.38
aforementioned items
Total -12,806.43 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section III Summary of Company Business
I Main businesses of the company in the reporting period
Whether the company needs to comply with the disclosure requirements of the particular industry
No
The Company is a comprehensive fishery enterprise integrated with ocean-going fishing, ocean refrigerated
transport, and refrigeration, processing and trading of aquatic products, its main businesses involve all major aspects
of the industry chain.
1. Ocean-going fishing
During the reporting period, the company has owned a total of 22 vessels for ocean-going fishing, including 7 large-
scale tuna seiners, 13 large ultra-low temperature tuna long liners, and 2 medium-sized trawlers, which have been
respectively working in Indian Ocean and the Garner in Atlantic Ocean. During the reporting period, the
international tuna market fluctuated considerably with seine prices down by about 30% and ultra-low temperature
longline fishing prices down by about 20% as compared to the end of last year, respectively. According to the
market changes and the actual sea production, the Company scientifically dispatched, rationally allocated, and
actively developed domestic and international markets. In the aspect of longline fishing, the Company made prompt
adjustment to operating strategies, furthered its potential, conducted legal operation and maintained good production
and operation efficiency based on the changing production and market environment. With respect to seine fishery,
four seine boats have been put into operation in the Atlantic sea, reaching the expected results. Besides, other three
boats will be put into operation in the second half year, which will greatly improve its capability in seine fishery.
Trawling fishing projects in Ghana recorded such production capacity approximately the same to the corresponding
period of previous year, while the proportion of low value fishes increased contributing relatively low output value.
Besides, recession of trawling fishing resources and aging of vessel conditions were also the major reasons for
decreasing efficiency.
2. Refrigerated transport
During the reporting period, the Company's seven ocean-going refrigerated transport vessels engaged in operational
services, actively implementing the overall development strategy deployment of the Company. By adherence to the
annual budget target and short-term and long-term tasks to secure steady development, the Company conducted
various actions to ensure satisfaction of the economic indicators: careful organization to implement responsibility;
strengthen study and training of fishing workers and enhance the management level; maintain customer resources
and steady development; emphasize corporate management to pursue management benefit.
3. Refrigeration processing trade
In reporting period, refrigeration processing trade of the Company mainly focoused on: The first was to insist on
internal absorption and external introduction, give full play to advantages of industrial clusters, resist the risks and
face the market development together with fishing industry, strengthen efforts to the return shipping and deep
processing of tuna, the import volume & value increased from a year earlier; form a processing industry chain by
centering on Zhonglu food, and give a real play to the distributing centre as the deep-processing of deep-sea fishing
products and cold-chain logistics base in Shandong Province and the tuna trading center of China, and had far-
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
reaching significance to refine and strengthen the tuna industry chain. The second was to focus on improving the
automatic mechanization standards, strive to improve the important processes and key processes in the automatic
mechanization standards; the Company actively promoted the "Five Fast Policy", namely fast in production,
refrigeration, loading, filling and cutting, through which, it was enabled to increase production capacity, reduce
waste of raw materials, stabilize product quality and reduce the operating costs. Third, through reducing production
personnel, raw material procurement and the number of working days, the Company enhanced the competitiveness
by adjusting the model of export sales, fine management, adjusting the product structure, market expansion and
products development. Fourth, it broadened the publicity channels, upgraded product packaging, improved the sales
model, and created the featured "Higgins" tuna brand.
II. Major changes in main assets
1. Major changes in main assets
Major assets Note of major changes
Equity assets No major change.
Fixed assets No major change.
Intangible assets No major change.
Construction in progress No major change.
2. Main overseas assets
√Applicable □Not applicable
Control Ratio of the Whether has
measures to overseas major
Operating Earnings
Content Reasons Assets scale Location ensure the assets in net impairment
mode status
safety of assets of the risks or not
assets Company (Y/N)
HABITAT Wholly-
INTERNATI owned Vessels and
221,592,336. Independent 11,521,734.5
ONAL subsidiary Panama crew 25.76% N
24 operation 3
CORPORATI established insurance
ON aboard
A
ZHONG Wholly- professional
GHA owned management
175,797,773. Independent
FOODS subsidiary Rep. Ghana team -7,635,354.50 20.44% N
83 operation
COMPANY established overseas
LIMITED aboard posting,
vessels and
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
crew
insurance
III. Core competitive-ness analysis
Whether or not the Company complies with disclosure requirement of the special industry
No
The Company is an outgoing comprehensive oceanic fishery enterprise, established in July 1999 with the approval
from People’s Government of Shandong province. We have completed industry chain and we are the leading
enterprise of oceanic fishery for the Shandong Province. As a comprehensive fishery enterprise, the company's core
competitiveness is mainly reflected in the following aspects:
Firstly, the company is a comprehensive fishery enterprise integrating deep-sea fishing, refrigerated transport, and
refrigeration and processing and trading of aquatic products, its main business involves all key links of industry
chain, and the businesses among all operating entities are highly related, possess the conditions for overall
collaborative operation, and provides guarantee for strengthening and extending the industrial chain strategy;
Secondly, as one of the enterprises engaged in deep-sea fishing business at the earliest in China, the company starts
the production and operation early with high starting point, and high-quality talents and assets. After many years of
professional management, the company has accumulated a large number of professional talents covering all fields
of deep-sea fishing. For both vessel numbers, gross tonnage and profitability of current refrigerated transport fleet,
the Company occupies the national leading level. We own biggest super-low temperature cold storage and raw food
processing factory in China. The advantage of tuna processing and trading ability are being strengthen by the Tuna
Trading Center and new Tuna E-Trading Platform System; the 30000 tons variable-temperature cold storage and
supporting facilities in tide refrigerated logistic center adopted many new technology and operates well;
Thirdly, the distant fishery, we mainly operates, is the parts of “going out” strategy and maritime strategy of the
country, and also it is the part of Blue Economic Zone Plans in Shandong Province. The distant fishery still has a
development opportunity in way of depth adjustment. The products of distant water finseries are mainly out from
the deep ocean, which have a favorable market prospect for being pure natural, high-quality and unconditioned
secure.
Fourthly, the Company enlarge the tuna seine fleet in Atlantic, under the shelter of tight regulations from WCPFC
in WCPO and ICCAT, the tuna seine business will have a stable growth.
The above mentioned factors were provided a powerful strategic support for the development of the Company; the
Company will make good use of these strategic resources, creating innovative, and participated in the construction
of new-aged energy transform actively, accelerate the strategic transformation, and vigorously implement the
industrial chain extension projects to upgrade the influence and completive in deep-sea fishing market in and out of
China.
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section IV Discussion and Analysis on Operation
I. Introduction
During the reporting period, the Company has earnestly implemented the spirit of its annual working conference,
aiming at the complete completion of all budgetary targets. Based on the reality, it made progressive, active and
effective actions to focus on development of ocean fishing business, consolidate refrigerated transportation business,
explore processing business in domestic and overseas markets and achieved stable operation notwithstanding the
various negative factors.
(I)Business review during the reporting period
1.Refrigerated transport leasing sector: the Company ensured no decrease in rental revenue by increasing voyage
rate with active actions made to conquer the negative factors such as depressed international shipping market and
decreased goods resources suitable for shipping.
Efforts have been made to expand other freight services and transport channels, enhance ship service awareness and
service quality, maintain customer resources in the fierce market competition, and ensure market share. It recorded
operating income of RMB44,910,400, with a year-on-year decrease of 10.19%; and recorded net profit of
RMB13,003,800, with an year-on-year increase of 9.92%.
2. Ocean fishing business: the Company made scientific deployment in longline fishin, and made timely adjustment
to operating strategy according to fishery conditions, fishing floods and market changes. In addition to individual
operation of each boat, the Company also focused on operation of main fishing ground, effectively guaranteed the
fishing output. In relation to tuna seine fishing business, the Company effectively improved output by virtue of
scientific management and application of remote monitoring electric buoy and artificial network against the negative
factors, such as unfamiliarity to fishing conditions, relatively strange fishing ground and temporary fishing-
suspension control. The Company achieved operation revenue of RMB 93,937,400 with a y-o-y declined of 9.05%;
and recorded net profit of RMB4, 878,700 from this business segment, down by 64.90% as compared to the same
period of previous year.
3. Refrigerated processing and trading of aquatic products segment: through actively implementing the working
requirement of "take innovation as the main line, entrepreneurship as the foothold, and transformation as the
breakthrough", the Company optimized the marketing approaches, explored and innovated the sales model,
achieved the integration of “micro-business + e-commerce + stores + sub-merchants”, and improved the
comprehensive and integrated sales network. During the reporting period, the operating income was
RMB296,786,900 with a year-on-year decrease of 13.79% and net profit was RMB10,775,900 with an increase of
1.97%.
(II) General operation
In first half of 2018, the Company achieved business revenue of 440.3228 million Yuan, basically the same as last
year of 440.1781 million Yuan; operation cost was 374.498 million Yuan, decreased 1% over that of 378.3674
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
million Yuan at last year; the net profit attributable to owners of parent company amounted as 22.6019 million Yuan,
a 29.37% declined over that of 32.0016 million Yuan at last year.
II. Main business analysis
See “I. Introduction” in “Discussion and Analysis of Business”.
y-o-y change of main financial data
In RMB
Current period Same period of last year Y-o-y increase/decrease Reasons for changes
Operation revenue 440,322,776.97 440,178,091.75 0.03%
Operation cost 374,498,048.55 378,367,434.21 -1.02%
Soaring sales makes the
Sales expenses 14,843,224.40 4,081,303.48 263.69% ocean freight and port
surcharge rise sharply
Refers to the two
enterprise are operates,
including Africa Star
Administrative expenses 23,045,619.66 16,193,699.81 42.31% Company operates since
July 2017 and Sino-
Gahna Food Company
operates since April 2017
Exchange earnings from
Financial cost 3,689,988.56 6,517,713.00 -43.39%
exchange rate changed
The enterprise income
tax paid in the period
Income tax expense 1,922,681.98 453,724.36 323.76%
increased over that of last
year
Net cash flow arising
21,814,612.31 17,876,156.54 22.03%
from operation activities
At last period, five tuna
Net cash flow arising
purse seine boars are
from investment -2,800,663.63 -153,617,939.11 98.18%
purchased by Zhonglu
activities
Haiyan Company
Net cash flow arising
-15,933,350.40 110,437,409.49 -114.43% Bank loans are paid
from financing activities
There was no expenses
Net increase of cash and from major assets
3,506,827.39 -26,636,709.82 113.17%
cash equivalent purchased in the period,
and the cash in-flow
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
from operation activities
increased
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period
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
Seine tuna fishing 82,623,297.13 60,867,908.19 26.33% 185.30% 174.61% 12.24%
Longline tuna
11,314,101.81 8,164,422.46 27.84% -84.78% -85.28% 9.69%
fishing
Boat rental 44,910,401.08 30,095,185.88 32.99% -10.19% -9.36% -1.82%
Distant fishing
for other kind of 2,633,412.65 3,617,501.09 -37.37% -25.35% -19.46% -36.83%
fish
Refrigeration
processing trade
295,635,531.34 270,984,353.91 8.34% -13.63% -16.77% 71.22%
of the aquatic
products
Housing rental 2,054,655.24 768,677.02 62.59%
Waste income
1,151,377.72 100.00%
and others
According to products
Seine tuna fishing 82,623,297.13 60,867,908.19 26.33% 185.30% 174.61% 12.24%
Longline tuna
11,314,101.81 8,164,422.46 27.84% -84.78% -85.28% 9.69%
fishing
Boat rental 44,910,401.08 30,095,185.88 32.99% -10.19% -9.36% -1.82%
Distant fishing
for other kind of 2,633,412.65 3,617,501.09 -37.37% -25.35% -19.46% -36.83%
fish
Refrigeration
processing trade 295,635,531.34 270,984,353.90 8.34% -13.63% -16.77% 71.22%
of the aquatic
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
products
Housing rental 2,054,655.24 768,677.02 62.59%
Waste income
1,151,377.72 100.00%
and others
According to region
Taiwan China 79,512,758.32 61,818,126.17 22.25% -18.23% -19.63% 6.48%
Mainland China 74,294,171.19 48,343,323.59 34.93% -60.97% -70.57% 154.78%
Ghana 39,701,846.29 34,825,419.59 12.28% 653.15% 607.40% 85.82%
Japan 135,107,961.20 127,012,684.70 5.99% -15.08% -15.71% 13.26%
Thailand 16,455,278.11 12,053,976.93 26.75% 89.71% 100.68% -13.02%
Singapore 4,024,276.04 3,823,373.02 4.99% -30.14% -30.91% 27.35%
South Korea 22,285,693.34 21,122,067.56 5.22% 75.31% 72.95% 32.86%
Other 68,940,792.48 65,499,076.99 4.99% 318.31% 311.65% 44.70%
III. Analysis of the non-main business
√Applicable □Not applicable
In RMB
Whether has sustainability or
Amount Ration in total profit Cause
not
Assets impairment -151,387.56 -0.66% No sustainability
Non-operation Resulted by supplementary
427,108.38 1.85% No sustainability
expenses income tax payment
IV. Assets and liability
1. Major changes of assets composition
In RMB
End of current period End of last period
Ratio
Ratio in total Ratio in total Notes of major changes
Amount Amount changes
assets assets
151,753,165.9
Monetary fund 13.75% 102,884,493.47 10.22% 3.53%
9
Account
44,730,567.95 4.05% 41,823,925.36 4.15% -0.10%
receivable
303,811,883.2 More purse seine catch in the period,
Inventory 27.52% 211,862,695.24 21.04% 6.48%
7 and some of them are not for sale, the
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
seafood refrigeration trade
procurement increased
Investment real
31,079,447.01 2.82% 32,309,303.25 3.21% -0.39%
estate
509,463,246.7 Transfer to fixed assets from
Fixed assets 46.15% 399,550,767.01 39.69% 6.46%
9 construction in progress
Construction in The seine boats purchased last period
15,213.68 0.00% 152,869,726.81 15.18% -15.18%
progress are transfer to assets
Short-term Loans 100 million Yuan are paid to
63,607,615.40 5.76% 168,666,366.61 16.75% -10.99%
borrowing China CITIC Bank
2. Assets and liability measure by fair value
□ Applicable √ Not applicable
3. Assets right restriction till end of reporting period
Found more in 78 of the Note in consolidation statement
V. Investment
1. Overall situation
□Applicable √Not applicable
2. The major equity investment obtained in Reporting Period
□ Applicable √ Not applicable
3. The major non-equity investment doing in Reporting Period
□ Applicable √ Not applicable
4. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The company had no securities investment in the reporting period.
(2) Derivative investment
□ Applicable √ Not applicable
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
The company had no derivative investment in the reporting period.
VI. Sales of major assets and equity
1. Sales of major assets
□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.
2. Sales of major equity
□ Applicable √ Not applicable
VII. Analysis of main holding company and stock-jointly companies
√Applicable □Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
In RMB
Company Main Register Operating Operating
Type Total assets Net Assets Net profit
name business capital revenue profit
Shandong
Processing
Zhonglu
trade of 75,593,300.0 390,124,230. 198,211,872. 296,786,909. 12,514,908
Oceanic Subsidiary 10,775,889.72
aquatic 0 97 60 06 .71
(Yantai) Food
products
Co., Ltd.
Shandong
Zhonglu
-
Haiyan Distant sea 221,617,349. 399,060,179. 312,812,984. 73,754,521.8
Subsidiary 3,598,555. -3,598,555.54
Oceanic fishing 00 93 66 2
54
Fishery Co.,
Ltd.
HABITAT
Transport
INTERNATI
rental of the 12,476,146.0 221,592,336. 214,262,579. 29,596,010.5 11,521,734
ONAL Subsidiary 11,521,734.53
refrigeration 0 24 03 8 .53
CORPORAT
vessels
ION
Shandong
Transport
Zhonglu
rental of the 22,505,600.0 33,946,084.1 15,314,390.5 2,022,882.
Fishery Subsidiary 8,872,121.21 1,482,111.44
refrigeration 0 4 0 81
Shipping Co.,
vessels
Ltd.
Particular about subsidiaries obtained or disposed in report period
17
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
□ Applicable √ Not applicable
Notes of main holding company and stock-jointly companies
VIII. Structured vehicle controlled by the Company
□ Applicable √ Not applicable
IX. Prediction of business performance from January – September 2018
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the warning
of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable √ Not applicable
X. Risks and countermeasures
1. Risk of resources change, especially the decrease of major fishing species. Although international fishery
resources protection organizations, resource originating countries and responsible fisheries enterprises are
committed to sustainable fishing, cyclical changes in resources, climate and hydrological conditions can still lead
to fluctuations in fishery resources, including declines in the amount of resources, which will directly result in
decline in the Company's output. It makes scientific and reasonable arrangements for vessel maintenance, equipment
maintenance, material, bait, spare parts and personnel logistic support to ensure the rate of voyage.
2. Risk of fish price fluctuation. The price of fish may continue to fall and run in a low level which may affect the
whole annual revenue. The Company will make careful organization to capture the best opportunity to sell products
so as to reduce impairment loss. In addition, it will make full use of the national and local supporting policies and
improve the added value of its products by processing.
3. Risk of exchange fluctuations. The appreciation of RMB against the US dollar and the Japanese yen will affect
the Company's export products and ship leasing services, so it should pay close attention to development trend of
exchange rate and adopt effective financial instruments such as forward exchange, settlement and sale of foreign
exchange so as to lock in the exchange rate in advance and minimize the exchange risk to the largest extent.
4. The risk of changes in preferential supporting policies for specific industries, which includes, but not limited to
subsidy policies for development and utilization of international fishing resources and policy on export tax rebate.
Reduction of subsidy or decline of rebate rate will lead to decrease of non-operating income.
5. The risk of price fluctuation of major raw materials and equipment parts. The biggest cost component of the
Company's processing business is attributable to acquisition of raw materials. Thus, increase of raw materials prices
will further shorten the profit margin of processing business. The maintenance of ocean fishing vessels need
maintenance or update of key equipment components in a timely manner, the price change of which will also affect
the cost of fishing production. The Company will deal with the risk of raw material price changes by establishing
strategic cooperation with major raw material suppliers, and will reduce the impact of price changes on costs by
increasing the localization rate of key equipment components.
18
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section V. Important Events
I. In the report period, the Company held annual shareholders’ general meeting and
extraordinary shareholders’ general meeting
1. Annual Shareholders’ General Meeting in the report period
Ratio of investor
Session of meeting Type Date Date of disclosure Index of disclosure
participation
Resolution Notice of
The First Interim
General
Shareholders
The First Interim
Interim General Meeting 2018
General
Shareholders 48.09% 2018-01-25 2018-01-26 (Notice No.: 2018-
Shareholders
Meeting 04) released on
Meeting 2018
China Securities
Journal, Hong Kong
Commercial Daily
and Juchao Website
Resolution Notice of
The Second Interim
General
Shareholders
The Second Interim
Interim General Meeting 2018
General
Shareholders 47.42% 2018-02-26 2018-02-27 (Notice No.: 2018-
Shareholders
Meeting 10) released on
Meeting 2018
China Securities
Journal, Hong Kong
Commercial Daily
and Juchao Website
Resolution Notice of
Annual General
Meeting of 2017
(Notice No.: 2018-
Annual General
AGM 49.19% 2018-06-28 2018-06-29 20) released on
Meeting of 2017
China Securities
Journal, Hong Kong
Commercial Daily
and Juchao Website
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
19
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
II. Profit distribution plan and capitalizing of common reserves plan for 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
year
III. Commitments completed in Period and those without completed till end of the Period from actual
controller, shareholders, related parties, purchaser and companies
□ Applicable √ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period from actual controller,
shareholders, related parties, purchaser and companies
IV. Appointment and non-reappointment (dismissal) of CPA
Whether the semi-annual financial report had been audited
□Yes √ No
The semi-annual report was not audited
V. Explanation on “Qualified Opinion” from CPA by the Board and Supervisory Committee
□ Applicable √ Not applicable
VI. Explanation from the Board for “Qualified Opinion” of last year’s
□ Applicable √ Not applicable
VII. Bankruptcy reorganization
□ Applicable √ Not applicable
No bankruptcy reorganization for the Company in reporting period.
VIII. Lawsuits
Material lawsuits and arbitration
□ Applicable √ Not applicable
No material lawsuits and arbitration in the reporting
Other lawsuits
□ Applicable √ Not applicable
20
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
IX. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.
X Integrity of the company and its controlling shareholders and actual controllers
□Applicable √Not applicable
XI. Implementation of the company’s stock incentive plan, employee stock ownership plan or
other employee incentives
□ Applicable √ Not applicable
During the reporting period, the company has no stock incentive plan, employee stock ownership plan or other employee incentives
that have not been implemented.
XII. Material related transactions
1. Related transaction with daily operation concerned
□ Applicable √ Not applicable
No related transaction with daily operation concerned for the Company in reporting period.
2. Related transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in reporting period.
3. Main related transactions of mutual investment outside
□ Applicable √ Not applicable
No main related transactions of mutual investment outside for the Company in reporting period
4. Contact of related credit and debt
□ Applicable √ Not applicable
No contact of related credit and debt for the Company in reporting period
5. Other material related transactions
√Applicable □ Not applicable
In order to ease the pressure from capital shortage, Haiyan Company, the controlling subsidiary of the Company, made an capital
increase by existing shareholders to secure sufficient capital for normal operation and new business development. In detail, Shandong
State Investment contributed monetary capital of RMB100 million and the Company made monetary capital contribution of RMB28
21
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
million while abandoning the right to increase capital on a pro rata basis.
Related query of interim notice material related transactions
Notice name Disclosure date Website for disclosure
Capital Increment of the Controlling
Subsidiary and Related Transaction on
2018-02-09 http://www.cninfo.com.cn
Abandoning Rights to Increased Capital in
Proportion
XIII. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period.
XIV. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
The Company had no trusteeship in the reporting period.
(2) Contract
□ Applicable √ Not applicable
The Company had no contract in the reporting period.
(3) Leasing
□ Applicable √ Not applicable
The Company had no leasing in the reporting period.
2. Major guarantee
□ Applicable √ Not applicable
The Company had no guarantee in the reporting period.
3. Other material contracts
□ Applicable √ Not applicable
The Company had no other material contracts in the reporting period.
22
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
XV. Social responsibility
1. Material environmental protection
Listed company and its subsidiary belongs to the key pollution enterprise listed by Department of Environmental Protection
No
Listed company and its subsidiary are not belongs to key pollution enterprise listed by Department of Environmental Protection
2. Targeted poverty alleviation social responsibility
During the reporting period, the Company made proactive response to the Proposal for Devotion to Targeted Poverty
Alleviation for Rural Areas addressed by Qingdao Securities Regulatory Bureau and Qingdao Listing Company
Association, and participated the poverty alleviation program between Qingdao and Anshun, Guizhou, seeking for
poverty alleviation assistance demands. During the reporting period, the Company made discussion with Qingdao
Education Development Fund and Anshun Education Bureau in respect of improvement of educational resources
in poor areas, expecting to alleviate poverty by teaching the poor to get rid of the poverty.
In future, the Company will continue to practice the overall poverty alleviation program. It will focus on poverty
alleviation through education contribution as the essential manner to perform its social responsibility, conduct
targeted poverty alleviation and propel early implementation of the alleviation projects, making its own contribution
to the national strategy of poverty alleviation.
XVI. Explanation on other significant events
√Applicable □Not applicable
Name of the Notice Released date Website or index for disclosure
Capital Increment of the Controlling Subsidiary and Related
Transaction on Abandoning Rights to Increased Capital in 2018-2-9 http//www.cninfo.com.cn
Proportion
Progress of Major Evetns and Suggestive Annoucement on Equtiy
2018-4-9 http//www.cninfo.com.cn
Transfer on Agreement from State-owned Shareholder
XVII. Significant event of subsidiary of the Company
√ Applicable □ Not applicable
In order to ease the pressure from capital shortage, Shandong Zhonglu Haiyan Distant Fishery Company Limited,
the controlling subsidiary of the Company, made an capital increase by existing shareholders to secure sufficient
capital for normal operation and new business development. In detail, Shandong State Investment contributed
monetary capital of RMB100 million and the Company made monetary capital contribution of RMB28 million
while abandoning the right to increase capital on a pro rata basis. Upon completion of this capital increase, the
shareholding proportion of the Company increased to 59.05%, enabling it to maintain the role of controlling
shareholder, which made Haiyan Company included in our consolidated statements. For details, please refer to the
23
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Connected Transaction Announcement relating to Capital Increase of the Controlling Subsidiary While Abandoning
the Right to Increase Capital on a Pro Rata Basis (No.2018-07) disclosed on China Securities Journal, Hong Kong
Commercial Daily and Juchao Information Website.
The fourth meeting of the 6th Board of Directors of the Company examined and approved the Proposal on the
Purchase of Tuna Seine Boat Project, agreed the company’s holding subsidiary – Shandong Zhonglu Haiyan
Oceanic Fishery Co., Ltd. to purchase five tuna seine boats with ICCAT registered fishing license. The five tuna
seine boats are put into operation up to the report disclosed
24
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in Shares
1. Changes in Shares
In Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Capitalizat
New
Bonus ion of
Amount Proportion shares Others Subtotal Amount Proportion
shares public
issued
reserve
128,071,3 128,071,3
I. Unlisted shares 48.13% 48.13%
20 20
128,071,3 128,071,3
1. Sponsor shares 48.13% 48.13%
20 20
Including: State-owned 127,811,3 127,811,3
48.04% 48.04%
shares 20 20
Domestic corporate
260,000 0.10% 260,000 0.10%
shares
138,000,0 138,000,0
II. Listed shares 51.87% 51.87%
00 00
2. Domestically listed 138,000,0 138,000,0
51.87% 51.87%
foreign shares 00 00
266,071,3 266,071,3
III. Total shares 100.00% 100.00%
20 20
Reasons for share changed
□Applicable √ Not applicable
Approval of share changed
□Applicable √ Not applicable
Ownership transfer of share changed
□Applicable √Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common shareholders
of Company in latest year and period
□Applicable √Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security regulators
□Applicable √Not applicable
2. Changes of restricted shares
□ Applicable √ Not applicable
25
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
II. Securities issuance and listing
□ Applicable √ Not applicable
III. Amount of shareholders of the Company and particulars about shares holding
In share
Total preference shareholders
Total common shareholders at with voting rights recovered at
11,716 0
period-end end of reporting period (if
applicable) (see Note 8)
Particulars about shares held above 5% by common shareholders or top ten common shareholders
Amount Amount Number of share pledged/frozen
Number
of of
of
Changes holding holding
common
Nature of Proportion of in unlisted listed
Shareholders shares
shareholder shares held reportin common common Status Amount
held at
g period circulati circulati
period-
on on
end
shares shares
Shandong State-
owned Assets
Investment State-owned 88,000,0 88,000,0
33.07%
Holding corporate 00 00
Company
Limited
Shandong
Luxin
Investment State-owned 37,731,3 37,731,3
14.18%
Holding corporate 20 20
Company
Limited
Overseas natural 5,760,42 5,760,42
Chen Tianming 2.16%
person 7 7
GUOTAI
JUNAN
4,965,20 4,965,20
SECURITIES( Overseas corporate 1.87%
4 4
HONGKONG)
LIMITED
Shen Wan
Hongyuan 4,639,15 4,639,15
Overseas corporate 1.74%
Securities (H.K) 4 4
Co., Ltd.
26
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Haitong
International
Securities 2,170,50 2,170,50
Overseas corporate 0.82%
Company 0 0
Limited-
Account Client
China National
Heavy Duty
State-owned 1,950,00 1,950,00
Truck Group 0.73%
corporate 0 0
Jinan Truck
LLC.
Domestic nature 1,714,04 1,714,04
Cai Yujiu 0.64%
person 9 9
Wang Domestic nature 1,215,20 1,215,20
0.46%
Dongsheng person 3 3
Domestic nature 1,083,82 1,083,82
Qin Jun 0.41%
person 0 0
Strategy investors or general
corporate becomes top 10 common
Not applicable
shareholders due to rights issued (if
applicable)(Note 3)
Shandong State-owned Assets Investment Holding Co., Ltd and Shandong Luxin Investment
Holding Group Co., Ltd are provincial state-owned enterprises under the same stock controlling of
Shandong Provincial Commission; China National Heavy Duty Truck Group Jinan Truck LLC is
Explanation on associated
the sponsor shareholder of the Company, Shandong State-owned Assets Investment Holding
relationship among the aforesaid
Co., Ltd has 20% shares of China National Heavy Duty Truck Group Jinan Truck LLC. Rests
shareholders
of the shareholders are the domestically listed foreign shareholders, and t he Company is
unknown whether there exists associated relationship or belongs to consistent actor regulated
by “management method for acquisition of listed company” among the above said shareholders
Shareholding of top 10 circulated shareholders
Type of shares
Shareholders Amount of listed shares held at end of the Period
Type Amount
Domestically
Chen Tianming 5,760,427 listed foreign
shares
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 4,965,204 listed foreign
LIMITED shares
Shen Wan Hongyuan Securities Domestically
4,639,154
(H.K) Co., Ltd. listed foreign
27
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
shares
Domestically
Haitong International Securities
2,170,500 listed foreign
Company Limited-Account Client
shares
Domestically
Cai Yujiu 1,714,049 listed foreign
shares
Domestically
Wang Dongsheng 1,215,203 listed foreign
shares
Domestically
Qin Jun 1,083,820 listed foreign
shares
Domestically
Huang Jiayi 1,048,687 listed foreign
shares
Domestically
Lin Mingyu 964,001 listed foreign
shares
Domestically
KGI ASIA LIMITED 903,000 listed foreign
shares
Expiation on associated relationship
or consistent actors within the top
The Company is unknown whether there exists associated relationship or belongs to consistent
10 un-restrict shareholders and
actor regulated by “management method for acquisition of listed company” among the above
between top 10 un-restrict
said shareholders.
shareholders and top 10
shareholders
Explanation on shareholders
involving margin business about top
ten common stock shareholders Not applicable
with un-restrict shares held(if
applicable) (see note4)
Whether top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held of the Company have no
buy-back agreement dealing in reporting period.
28
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
IV. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of controlling shareholders had no change in reporting period.
Changes of actual controller in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
29
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the reporting.
30
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section VIII. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
□Applicable √ Not applicable
Found more in annual report 2017 for the changes of shares held by directors, supervisors and senior executives
II. Resignation and dismissal of directors, supervisors and senior executives
√Applicable □Not applicable
Name Position held Type Date Cause
Lu Lianxing President Election 2018-01-25 Election on shareholder general meeting
Appoint &
Wang Huan GM 2018-06-07 Board employment
remove
31
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section IX Corporate Bond
Whether the Company has a corporation bonds that issuance publicly and listed on stock exchange and without due on the date when
semi-annual report approved for released or fail to cash in full on due
No
32
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Section X. 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. Consolidated balance sheet
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
2018-06-30
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 151,753,165.99 147,489,843.54
Settlement provisions
Capital lent
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable 44,730,567.95 38,792,912.89
Accounts paid in advance 13,370,603.36 18,573,111.58
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 1,691,389.44 11,305,713.11
Purchase restituted finance asset
33
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Inventories 303,811,883.27 243,744,590.07
Divided into assets held for sale
Non-current asset due within one
year
Other current assets 28,802,602.21 30,081,962.56
Total current assets 544,160,212.22 489,988,133.75
Non-current assets:
Loans and payments on behalf
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment
Investment property 31,079,447.01 31,694,375.13
Fixed assets 509,463,246.79 525,975,263.88
Construction in progress 15,213.68
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 13,219,178.90 13,495,947.76
Expense on Research and
Development
Goodwill
Long-term expenses to be
409,385.15 516,181.25
apportioned
Deferred income tax asset 1,986,696.05 286,696.05
Other non-current asset 3,601,885.77 3,527,165.98
Total non-current asset 559,775,053.35 575,495,630.05
Total assets 1,103,935,265.57 1,065,483,763.80
Current liabilities:
Short-term loans 63,607,615.40 176,394,931.62
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
34
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Derivative financial liability
Notes payable
Accounts payable 92,718,294.72 65,204,257.98
Accounts received in advance 28,598,670.52 19,875,122.76
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 36,781,555.83 42,854,174.79
Taxes payable 2,570,366.58 3,378,698.19
Interest payable 190,417.41 360,208.32
Dividend payable
Other accounts payable 7,713,318.18 6,175,352.76
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Liability held for sale
Non-current liabilities due within 1
433,292.75 866,585.48
year
Other current liabilities
Total current liabilities 232,613,531.39 315,109,331.90
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 1,577,667.63 1,577,667.63
Special accounts payable
Projected liabilities
Deferred income 9,705,869.14 9,705,869.14
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 11,283,536.77 11,283,536.77
Total liabilities 243,897,068.16 326,392,868.67
35
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Owner’s equity:
Share capital 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 287,352,616.86 279,998,206.82
Less: Inventory shares
Other comprehensive income -6,089,149.66 -6,075,014.12
Reasonable reserve
Surplus public reserve 21,908,064.19 21,908,064.19
Provision of general risk
Retained profit 164,469,116.27 141,867,217.06
Total owner’s equity attributable to
733,711,967.66 703,769,793.95
parent company
Minority interests 126,326,229.75 35,321,101.18
Total owner’s equity 860,038,197.41 739,090,895.13
Total liabilities and owner’s equity 1,103,935,265.57 1,065,483,763.80
Legal Representative: Lu Lianxing
Person in Charge of Accounting: Zhao Minkun
Person in Charge of Accounting Department: Lei Lixin
2. Balance Sheet of Parent Company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 13,879,519.37 48,034,853.41
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable 13,680,543.82 8,484,060.27
Account paid in advance 2,197,182.11 2,760,665.71
36
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Interest receivable
Dividends receivable
Other receivables 72,151,233.87 64,689,774.99
Inventories 59,227,080.92 49,373,616.72
Assets held for sale
Non-current assets maturing within
one year
Other current assets 1,687,543.79 1,016,912.35
Total current assets 162,823,103.88 174,359,883.45
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term receivables 5,837,328.77 5,397,947.02
Long-term equity investments 232,189,455.23 204,189,455.23
Investment property 31,079,447.01 31,694,375.13
Fixed assets 71,223,598.62 76,550,539.61
Construction in progress
Project materials
Disposal of fixed assets
Productive biological assets
Oil and natural gas assets
Intangible assets 454,539.09 525,800.21
Research and development costs
Goodwill
Long-term deferred expenses 409,385.15 516,181.25
Deferred income tax assets
Other non-current assets 285,524.92 196,581.20
Total non-current assets 341,479,278.79 319,070,879.65
Total assets 504,302,382.67 493,430,763.10
Current liabilities:
Short-term borrowings
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
37
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Notes payable
Accounts payable 7,937,084.69 14,290,700.38
Accounts received in advance 15,268,393.44 3,883,689.36
Wage payable 22,464,476.38 22,130,930.92
Taxes payable 286,038.57 278,991.52
Interest payable
Dividend payable
Other accounts payable 70,324,768.37 67,530,200.11
Liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 116,280,761.45 108,114,512.29
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 1,127,604.68 1,127,604.68
Special accounts payable
Projected liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 1,127,604.68 1,127,604.68
Total liabilities 117,408,366.13 109,242,116.97
Owners’ equity:
Share capita 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 279,115,900.17 279,115,900.17
38
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus reserve 19,184,672.34 19,184,672.34
Retained profit -177,477,875.97 -180,183,246.38
Total owner’s equity 386,894,016.54 384,188,646.13
Total liabilities and owner’s equity 504,302,382.67 493,430,763.10
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 440,322,776.97 440,178,091.75
Including: Operating income 440,322,776.97 440,178,091.75
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 417,258,997.84 406,876,087.35
Including: Operating cost 374,498,048.55 378,367,434.21
Interest expense
Commission charge and commission
expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 1,333,504.23 1,705,436.85
Sales expenses 14,843,224.40 4,081,303.48
Administration expenses 23,045,619.66 16,193,699.81
Financial expenses 3,689,988.56 6,517,713.00
Losses of devaluation of asset -151,387.56 10,500.00
Add: Changing income of fair
39
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
value(Loss is listed with “-”)
Investment income (Loss is listed
with “-”)
Including: Investment income on
affiliated company and joint venture
Exchange income (Loss is listed
with “-”)
Income from assets disposal (Loss is
-18,990.79 262,776.33
listed with “-”)
Other income 433,292.74
III. Operating profit (Loss is listed with
23,478,081.08 33,564,780.73
“-”)
Add: Non-operating income 0.00 648,201.59
Less: Non-operating expense 427,108.38 300,402.16
IV. Total Profit (Loss is listed with “-”) 23,050,972.70 33,912,580.16
Less: Income tax expense 1,922,681.98 453,724.36
V. Net profit (Net loss is listed with “-”) 21,128,290.72 33,458,855.80
(i) Net profit of continuing
21,128,290.72 33,458,855.80
operation(Net loss is listed with “-”)
(ii) Net profit of discontinuing
0.00
operation (Net loss is listed with “-”
Net profit attributable to owner’s of
22,601,899.21 32,001,590.86
parent company
Minority shareholders’ gains and
-1,473,608.49 1,457,264.94
losses
VI. Net after-tax of other comprehensive
-23,938.25 354,732.98
income
Net after-tax of other comprehensive
income attributable to owners of parent -14,135.54 354,732.98
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of re-
measurement of net defined benefit plan
liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method which
40
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
will not be reclassified subsequently to
profit and loss
(II) Other comprehensive income
items which will be reclassified -14,135.54 354,732.98
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method which
will be reclassified subsequently to profit
or loss
2. Gains or losses arising
from changes in fair value of available-
for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale financial
assets
4. The effect hedging portion
of gains or losses arising from cash flow
hedging instruments
5. Translation differences
arising on translation of foreign currency -14,135.54 354,732.98
financial statements
6. Other
Net after-tax of other comprehensive
income attributable to minority -9,802.71
shareholders
VII. Total comprehensive income 21,104,352.47 33,813,588.78
Total comprehensive income
22,587,763.67 32,356,323.84
attributable to owners of parent Company
Total comprehensive income
-1,483,411.20 1,457,264.94
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.08 0.12
(ii) Diluted earnings per share 0.08 0.12
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal Representative: Lu Lianxing
Person in Charge of Accounting: Zhao Minkun
41
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Person in Charge of Accounting Department: Lei Lixin
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
I. Operating income 79,888,714.36 59,539,271.88
Less: Operating cost 60,951,172.97 43,838,067.27
Operating tax and extras 342,224.63 452,021.58
Sales expenses 6,582,490.13 2,225,689.69
Administration expenses 10,276,464.69 8,254,821.34
Financial expenses -1,041,062.37 -262,508.81
Losses of devaluation of asset 2,053.90 10,500.00
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”)
Including: Investment income
on affiliated company and joint venture
Income from assets disposal
(Loss is listed with “-”)
Other income
II. Operating profit (Loss is listed
2,775,370.41 5,020,680.81
with “-”)
Add: Non-operating income 0.00 266,306.33
Less: Non-operating expense 70,000.00 260,672.26
III. Total Profit (Loss is listed with
2,705,370.41 5,026,314.88
“-”)
Less: Income tax expense
IV. Net profit (Net loss is listed with
2,705,370.41 5,026,314.88
“-”)
(i) Net profit of continuing
2,705,370.41 5,026,314.88
operation(Net loss is listed with “-”)
(ii) Net profit of discontinuing
operation (Net loss is listed with “-”
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
42
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of re-
measurement of net defined benefit plan
liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss
2. Gains or losses arising
from changes in fair value of available-
for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale
financial assets
4. The effect hedging
portion of gains or losses arising from
cash flow hedging instruments
5. Translation differences
arising on translation of foreign
currency financial statements
6. Other
VI. Total comprehensive income 2,705,370.41 5,026,314.88
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB
Item Current Period Last Period
43
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 394,303,101.04 405,702,926.35
services
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
bank
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings and
investment
Net increase of amount from
disposal financial assets that measured
by fair value and with variation
reckoned into current gains/losses
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Write-back of tax received 29,094,665.73 34,892,340.04
Other cash received concerning
87,228,597.67 43,104,120.67
operating activities
Subtotal of cash inflow arising from
510,626,364.44 483,699,387.06
operating activities
Cash paid for purchasing
292,810,614.62 350,844,053.24
commodities and receiving labor service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
44
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 59,531,961.28 56,040,388.83
Taxes paid 9,030,860.47 4,539,217.08
Other cash paid concerning
127,438,315.76 54,399,571.37
operating activities
Subtotal of cash outflow arising from
488,811,752.13 465,823,230.52
operating activities
Net cash flows arising from operating
21,814,612.31 17,876,156.54
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term 15,477.00 312,482.88
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
15,477.00 312,482.88
activities
Cash paid for purchasing fixed,
2,816,140.63 153,930,421.99
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
2,816,140.63 153,930,421.99
activities
Net cash flows arising from investing -2,800,663.63 -153,617,939.11
45
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
100,000,000.00
investment
Including: Cash received from
absorbing minority shareholders’ 100,000,000.00
investment by subsidiaries
Cash received from loans 44,481,427.05 157,501,563.84
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
144,481,427.05 157,501,563.84
activities
Cash paid for settling debts 157,275,541.94 44,521,400.44
Cash paid for dividend and profit
3,139,235.51 2,542,753.91
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
160,414,777.45 47,064,154.35
activities
Net cash flows arising from financing
-15,933,350.40 110,437,409.49
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 426,229.11 -1,332,336.74
exchange rate
V. Net increase of cash and cash
3,506,827.39 -26,636,709.82
equivalents
Add: Balance of cash and cash
147,067,351.82 128,737,661.78
equivalents at the period -begin
VI. Balance of cash and cash
150,574,179.21 102,100,951.96
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB
46
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 37,086,232.35 16,987,592.08
services
Write-back of tax received
Other cash received concerning
13,622,760.58 25,919,003.74
operating activities
Subtotal of cash inflow arising from
50,708,992.93 42,906,595.82
operating activities
Cash paid for purchasing
commodities and receiving labor 26,382,364.57 15,123,541.05
service
Cash paid to/for staff and workers 15,488,408.20 14,657,227.96
Taxes paid 1,324,993.47 315,684.06
Other cash paid concerning
12,830,808.80 44,713,882.83
operating activities
Subtotal of cash outflow arising from
56,026,575.04 74,810,335.90
operating activities
Net cash flows arising from operating
-5,317,582.11 -31,903,740.08
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term 0.00 287,282.88
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
0.00 287,282.88
activities
Cash paid for purchasing fixed, 839,043.14 543,090.00
47
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
intangible and other long-term assets
Cash paid for investment 28,000,000.00 0.00
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
28,839,043.14 543,090.00
activities
Net cash flows arising from investing
-28,839,043.14 -255,807.12
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
activities
Cash paid for settling debts
Cash paid for dividend and profit
distributing or interest paying
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
activities
Net cash flows arising from financing
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 1,291.21 -22,076.10
exchange rate
V. Net increase of cash and cash
-34,155,334.04 -32,181,623.30
equivalents
Add: Balance of cash and cash
48,034,853.41 43,007,956.89
equivalents at the period -begin
VI. Balance of cash and cash
13,879,519.37 10,826,333.59
equivalents at the period -end
48
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
7. Statement of Changes in Owners’ Equity (Consolidated)
Current period
In RMB
Current period
Owners’ equity attributable to parent company
Other
equity instrument
Item Less: Other Provisio Minorit Total
Perpet Reason
Capital Invento compre Surplus n of Retaine y owners’
Share Prefer ual able
capita reserve ry hensive reserve general d profit interests equity
red Other reserve
l shares income risk
stock
securi
ties
266,07 -
I. Balance at the 279,998 21,908, 141,867 35,321, 739,090
1,320. 6,075,0
end of the last year ,206.82 064.19 ,217.06 101.18 ,895.13
00 14.12
Add: Changes
of accounting
policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
II. Balance at the 266,07 -
279,998 21,908, 141,867 35,321, 739,090
beginning of this 1,320. 6,075,0
,206.82 064.19 ,217.06 101.18 ,895.13
year 00 14.12
III. Increase/ -
Decrease in this 7,354,4 22,601, 91,005, 120,947
14,135.
year (Decrease is 10.04 899.21 128.57 ,302.28
54
listed with “-”)
(i) Total - -
22,601, 21,114,
comprehensive 14,135. 1,473,6
899.21 155.18
income 54 08.49
(ii) Owners’ 7,354,4 92,478, 99,833,
devoted and
10.04 737.06 147.10
decreased capital
1.Common shares 7,354,4 92,478, 99,833,
invested by
10.04 737.06 147.10
shareholders
2. Capital invested
by holders of other
equity instruments
49
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk
provisions
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,07 287,352
-
21,908, 164,469 126,326 860,038
end of the report 1,320. 6,089,1
,616.86 064.19 ,116.27 ,229.75 ,197.41
period 00 49.66
Last Year
In RMB
Last period
Item
Owners’ equity attributable to the parent Company Minorit Total
50
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Other y owners’
equity instrument interest equity
Less: Other Provisio s
Perpet Reason
Share Capital Invento compre Surplus n of Retaine
ual able
capital Prefer capita reserve ry hensive reserve general d profit
red Other reserve
l shares income risk
stock
securi
ties
266,07 -
I. Balance at the 279,998 21,908, 50,349, 33,097, 650,759
1,320. 665,059
end of the last year ,206.82 064.19 731.78 484.30 ,748.02
00 .07
Add: Changes
of accounting
policy
Error
correction of the
last period
Enterprise
combine under the
same control
Other
II. Balance at the 266,07 -
279,998 21,908, 50,349, 33,097, 650,759
beginning of this 1,320. 665,059
,206.82 064.19 731.78 484.30 ,748.02
year 00 .07
III. Increase/
Decrease in this 354,732 32,001, 1,457,2 33,813,
year (Decrease is .98 590.86 64.94 588.78
listed with “-”)
(i) Total 354,732 32,001, 1,457,2 33,813,
comprehensive
.98 590.86 64.94 588.78
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4 Other
(III) Profit
distribution
51
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk
provisions
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,07 279,998
-
21,908, 82,351, 34,554, 684,573
end of the report 1,320. 310,326
,206.82 064.19 322.64 749.24 ,336.80
period 00 .09
8. Statement of Changes in Owners’ Equity (Parent Company)
Current period
In RMB
Current period
Other
equity instrument Other Total
Item Share Less: Retaine
Perpetu Capital comprehe Reasonab Surplus
Inventory owners’
capital Preferre al reserve nsive le reserve reserve d profit
Other shares equity
d stock capital income
securiti
52
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
es
-
I. Balance at the 266,071, 279,115,9 19,184,67 384,188,6
180,183
end of the last year 320.00 00.17 2.34 46.13
,246.38
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the 266,071, -
279,115,9 19,184,67 384,188,6
beginning of this 180,183
320.00 00.17 2.34 46.13
year ,246.38
III. Increase/
Decrease in this 2,705,3 2,705,370
year (Decrease is 70.41 .41
listed with “-”)
(i) Total 2,705,3 2,705,370
comprehensive
70.41 .41
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
53
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,071, -
279,115,9 19,184,67 386,894,0
end of the report 177,477
320.00 00.17 2.34 16.54
period ,875.97
Last Year
In RMB
Last period
Other
equity instrument
Other Total
Item Perpetu Less:
Share Capital comprehe Reasonab Surplus Retaine
al Inventory owners’
capital Preferre reserve nsive le reserve reserve d profit
capital Other shares equity
d stock income
securiti
es
-
I. Balance at the 266,071, 279,115,9 19,184,67 354,503,6
209,868
end of the last year 320.00 00.17 2.34 74.81
,217.70
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the 266,071, 279,115,9 19,184,67 - 354,503,6
beginning of this
320.00 00.17 2.34 209,868 74.81
year
54
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
,217.70
III. Increase/
Decrease in this 5,026,3 5,026,314
year (Decrease is 14.88 .88
listed with “-”)
(i) Total 5,026,3 5,026,314
comprehensive
14.88 .88
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
55
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,071, -
279,115,9 19,184,67 359,529,9
end of the report 204,841
320.00 00.17 2.34 89.69
period ,902.82
III. Company profile
(I) Enterprise registration place, Organization form and Headquarters address
Shandong Zhonglu Oceanic Fisheries Co., Ltd. (the “Company”), registration address: No. 29 Miaoling Road,
Laoshan District, Qingdao Shangdong, headquarter locates at No. 65 Haier Road, Qingdao Shangdong, was
incorporated as a joint stock limited company in the People’s Republic of China on 30 July 1999 according to the
documentation of Lu Ti Gai Zi [1999] No.85 issued by Shandong Development and Reform Commission, and the
holding company of the Company is Shandong Fisheries Enterprise Group General Corporation, the main sponsor.
On 26 June 2000, being approved by the documentation of Zheng Jian Fa Xing Zi [2000] No.82 issued by the China
Securities Regulatory Commission, the Company’s B-share, stock ID ”Zhonglu B”, stock code” 200992” are
listing for trading on Shenzhen Stock Exchange dated 24 July 2000.
Basic organization structure of the Company: Party Committee, board of shareholders, board of directors,
supervisory committee, office, office of the board, departments of human resources, financing plan department,
enterprise development department, auditing section and discipline inspection & supervision department
(II) Business nature and main business activities of Enterprise
Corporate industry: sea-going fisheries
Corporate major products: tuna and its products
Operating scope: general management projects: sales and processing of aquatic products; merchandise import and
export business within approved scope; ice machine manufacture and sale; refrigeration equipment manufacturing,
installation, maintenance; refrigeration; load and unload services; housing lease.
Pre-licensing projects: offshore fishing and distant fishing.
(III) Person approves the financial report for disclosed and date for report
The financial report has been approved for report by the Board dated 28 August 2018.
(IV) Scope and changes of consolidated statements during the reporting period
Ended as 30 June 2018, consolidation scope of the Company is as:
four subsidiaries, that is Shandong Zhonglu Fishery Shipping Co., Ltd., Shandong Zhonglu Oceanic (Yantai) Foods
Co., Ltd., HABITAT INTERNATIONAL CORPORATION and Shandong Zhonglu Haiyan Deep-sea Fishery Co.,
56
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Ltd; four sub-subsidiary: AFRICA STAR FISHERIES LIMITED, LAIFFISHERIES COMPANY LIMITED,
ZHONG GHA FOODS COMPANY LIMITED and Shandong Zhonglu Ocean Refrigerated Co., Ltd.; and one
operation entity with controlling rights obtained through operating lease: YAW ADDO FISHERIES COMPANY
LIMITED. Found more in Note VIII. Change of Consolidation Rage and Note IX. Equity in Other entity
IV. Preparation basis of Financial Statements
1. Preparation basis
Base on the running continuously and actual transactions and events, in line with the Accounting Standards for
Business Enterprise – Basic Standards and specific principle of accounting standards issued by the Ministry of
Finance, the Company prepared and formulate the financial statement lies on the followed important accounting
policy and estimation.
2. Going concern
The Company have the ability to continue as a going concern within 12 months at least since end of the reporting
period, there are no major events that impact the ability to continue as a going concern
V. Important accounting policy and estimation
Notes on specific accounting policies and accounting estimation:
The Company and subsidiaries determine specific accounting policies and accounting estimation based on their
production and operation, which mainly differ in accrual method for bad debt provision of the account receivable,
evaluation of inventory, depreciation of fixed assets and intangible assets amortization and recognization time of
the revenue etc.
1. Declaration of obedience to Accounting Standards for Business Enterprise
The Financial Statements of the Company are up to requirements of Accounting Standards for Business Enterprise
and also a true and thorough reflection to the relevant information as the Company’s financial position dated 30th
June 2018 and the operation results as well as cash flow from January to June in 2018.
2. Accounting period
The Company’s accounting year is Gregorian calendar year, namely from 1st January to 31st December of every year.
3. Business cycle
The Company’s business cycle is one year (12 months) as a normal cycle, and the business cycle is the determining
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criterion for the liquidity of assets and liabilities of the Company.
4. Bookkeeping standard currency
The Renminbi (RMB) is taken as the book-keeping standard currency
5. Accounting methods for consolidation of enterprises under the same control or otherwise
(1) Consolidation of enterprises under the same control
Where the Company for long term equity investment arising from business combination under common control
satisfies the combination consideration by payment of cash, transfer of non-cash assets or assumption of debt, the
carrying value of the net assets of the acquire in combined financial statement of the ultimate controller shared by
the Company as at the combination date shall be deemed as the initial investment cost of such long term equity
investment. If the equity instrument issued by combining party are consider as the combination consideration, than
the total value of the issuing shares are consider as the share capital. The difference between the initial cost of long-
term equity investment and book value of consideration (or total face value of the shares issued) paid, capital surplus
adjusted; if the capital surplus not enough to written down, than retained earning adjusted.
(2) Business combination not under common control
As for business combination not under common control, combination costs refer to the sum of the fair value of the
assets paid, liabilities occurred or assumed as well as equity securities issued by the acquirer to obtain control over
the acquire as at the acquisition date. As for acquiree that obtained by consolidation not under the same control,
the qualified confirmation of identified assets, liability and contingency liabilities should calculated by fair value
on day of purchased. If the consolidation cost larger than the fair value amount of indentified net assts from
acquiree’s, the differences should be recognized as goodwill. If the consolidation cost less than the fair value amount
of indentified net assts from acquiree’s, the differences should reckoned into current gains/losses after re-
examination.
6. Preparation methods for consolidated financial statements
(1) Consolidation financial statement range
The Company includes all the subsidiaries (including the separate entities controlled by the Company) into
consolidated financial statement, including companies controlled by the Company, non-integral part of the investees
and structural main body.
(2) Centralize accounting policies, balance sheet dates and accounting periods of parent and subsidiaries.
As for the inconsistency between the subsidiaries and the Company in the accounting policies and periods, the
necessary adjustment is made on the subsidiaries’ financial statements in the preparation of the consolidated
financial statements according to the Company’s accounting policies and periods.
(3) Setoff of consolidated financial statement
The consolidated financial statements shall be prepared on the basis of the balance sheet of the parent company and
subsidiaries, which offset the internal transactions incurred between the parent company and subsidiaries and within
subsidiaries. The owner’s equity of the subsidiaries not attributable to the parent company shall be presented as
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minority equity under the owner’s equity item in the consolidated balance sheet. The long term equity investment
of the parent company held by the subsidiaries, deemed as treasury stock of the corporate group as well as the
reduction of owners’ equity, shall be presented as “Less: treasury stock” under the owners’ equity item in the
consolidated balance sheet.
(4) Accounting for acquisition of subsidiary through combination
For subsidiaries acquired under enterprise merger involving enterprises under common control,
the assets, liabilities, operating results and cash flows of the subsidiaries are included in the consolidated financial
statements from the beginning of the financial year in which the combination took place. When
preparing the consolidated financial statements, for the subsidiaries acquired from business
combination not involving entities under common control, the identifiable net assets of the subsidiaries are adjusted
on the basis of their fair values on the date of acquisition.
7. Classification of joint arrangements and accounting treatment of joint operation
(1) Classification of joint arrangements
Joint arrangements are divided into joint operations and joint ventures. Joint arrangements achieved not through
separate entities are classified as joint operations. Separate entities refer to the entities with separate identifiable
financial architecture including separate legal entities and legally recognized entities without the qualification of
legal entity. Joint arrangements achieved through separate entities are generally classified as joint ventures. In case
of changes in rights entitled to and obligations undertaken by the parties of joint venture under a joint arrangement
due to the changes in relevant facts and circumstances, the parties of joint venture will re-assess the classification
of joint arrangements.
(2) Accounting treatment for joint operations
The parties of joint operation should recognize the following items in relation to their share of interest in joint
operation, and proceed with accounting in accordance with the relevant provisions under the Accounting Standards
for Business Enterprises: to recognize their separate assets or liabilities held, and recognize the assets or liabilities
jointly held according to their respective shares; to recognize the income from the disposal of their output share
under joint operation; to recognize the income from the disposal of output under joint operation according to their
respective shares; to recognize the expenses incurred separately, and recognize the expenses incurred under joint
operation according to their respective shares.
For the parties of a joint operation not under common control, if they are entitled to relevant assets and undertake
relevant liabilities of the joint operation, accounting will be carried out with reference to the provisions of the parties
of joint operation; otherwise, it should be subject to relevant Accounting Standards for Business Enterprises.
(3) Accounting treatment for joint ventures
The parties of a joint venture should perform accounting for investments by the joint venture in accordance with the
Accounting Standards for Business Enterprises No. 2 – Long-term Equity Investments. The parties not under
common control should carry out accounting depending on their influence on the joint venture.
8. Determination criteria of cash and cash equivalent
The cash recognized in the preparation of the cash flow statements, is the Company’s storage cash and deposits
available for payment anytime. The cash equivalents recognized in the preparation of the cash flow statements refers
to the investment held by the Company with characteristic of short-term, strong mobility, easy transfer to known
sum cash and has slim risk from value changes.
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9. Foreign currency exchange and the conversion of foreign currency statements
(1) Foreign currency exchange
The foreign currency exchange is booked on the current exchange rate on the transaction day and converted in the
bookkeeping standard currency. On the balance sheet day, the monetary items are converted on the current rate on
the balance sheet day, concerning the exchange differences between teh spot exchange rate on that date and initial
confirmation or the sport exchange rate on previously balance sheet date, should reckoned in to current gains/losses
except the capitalizing on exchange differences for foreign specific loans, which was reckoned into cost for
capitalizing. The non-monetary items measured on the historic cost are still measured by the original bookkeeping
rate with the sum of the bookkeeping standard currency unchanged. Items of non-monetary foreign currency which
was calculated by fair value, should converted by spot exchange rate on the confirmation day of fair value, difference
between the converted amount of bookkeeping currency and original amount of bookkeeping currency, was treated
as changes of fair value (including exchange rate changed) reckoned into current gains/losses or recognized as other
consolidated income.
(2) Conversion of foreign currency financial statements
Upon the conversion of the foreign currency financial statements of the controlling subsidiaries, joint enterprises,
and the affiliated enterprises on the bookkeeping standard currency different from the Company’s, the accounting
check and preparation of the consolidated financial statements are made. Assets and liabilities items in the balance
sheet, are converted on the current rate on the balance sheet day; owners’ equity items besides the “retained profit”
item, the other items are converted on the actual rate. Incomes and expenses items in the profit statement are
converted on the current rate. The conversion difference of the foreign currency financial statements is listed
specifically in the owners’ equity in the balance sheet. The foreign currency cash flow is converted on the current
rate on the cash flow actual day. The cash influenced by the rate fluctuation is listed specifically in the cash flow
statement. As for the foreign operation, the conversion difference of the foreign currency statement related to the
foreign operation is transferred in proportion into the disposal of the current loss/gain.
10. Financial instruments
(1) Categories and recognition of financial instruments
The financial instruments are classified as the financial assets or liabilities and equity instruments. As the Company
becomes one party of the financial instrument contract, the instrument is recognized as one financial asset or liability
or equity instruments.
In the initial recognition, the financial assets are classified as, the financial assets measured on fair value and with
its changes reckoned into the current loss/gain, long-term invest-bonds, account receivables, and financial assets
available for sale. Categories of the financial assets besides account receivables are dependent on the holding
intention and purpose of the Company and its subsidiaries for the financial assets. In the initial recognition, the
financial liabilities are classified as the financial liabilities measured on the fair value and with its changes reckoned
into the current loss/gain, other financial liabilities.
Financial assets measure by fair value and of which the changes are included in the current profits and losses include
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the trading financial assets with holding purpose of selling in the short run and the financial assets designated to be
measure by fair value in the initial recognition and of which the changes are included in the current profits and
losses; receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an
active market; available-for-sale financial assets are non-derivative financial assets that are either designated in this
category or not classified in any of the other categories at initial recognition; held-to-maturity investments are non-
derivative financial assets with fixed maturity and fixed or determinable payments that management has the positive
intention and ability to hold to maturity.
(2) Measurement of financial instruments
In the initial recognition, the financial instruments are measured on fair value; and the follow-up measurements are:
financial assets and financial assets available for sale that measured by fair value and with alteration reckoned into
current gains/losses together with the financial liabilities that measured by fair value with alteration reckoned into
current gains/losses should measured by fair value; the held-to-maturity securities, loans, account receivable and
other financial liability are measured by amortized cost; as for the equity instrument investment without quote in an
active market and with its fair value cannot be reliably measured, and those derivative financial assets or liability
that paid with equity instrument, which have hook with such instrument, should measured by cost. The loss/gain
from the fair value changes in the follow-up measurement of the financial assets and liabilities, besides one related
to the hedge, is dealt with in the following methods: ① The financial assets or liabilities measured on the fair value
and with its changes reckoned into the current loss/gain, are reckoned into the fair value loss/gain; ② The fair
value change of the financial assets available for sale, is reckoned into the other comprehensive income.
(3) Recognition of the fair value for the financial assets and liabilities
For those financial instruments existing in active markets, market quotation in the active market is used to confirm
their fair values; fair value of the financial instruments which have no active market is confirmed by adoption of
estimation technology. The estimation technology mainly including market approach, income approach and cost
method
(4) Recognition basis and measurement method for the transfer of financial assets/liabilities
As for the financial assets with all risks and compensations on their patent transferred, or all risks and compensations
neither maintained nor transferred but the control over the assets given up, the recognition of the financial asset may
terminate. For the financial assets are qualified for the recognition of termination conditions, the measurement may
be taken on the financial assets transfer, namely the difference is reckoned into the current loss/gain, between the
book value of the transferred financial assets and, the total of the consideration value received from the transfer and
the fair value change accumulative sum originally booked into the capital reserve. If the partial transfer satisfies the
criteria for derecognition, the entire carrying value of the transferred financial asset shall proportionally allocated
between the derecognized portion and the retained portion according to their respective relative fair value.
When all or part of the current obligation to a financial liability has been terminated, the entire or part of such
financial liability shall be derecognized.
(5) Impairment loss on financial assets
When an impairment loss on a financial asset carried at amortized cost has occurred, the amount of loss is provided
for at the difference between the asset’s carrying amount and the present value of its estimated future cash flows
(excluding future credit losses that have not been incurred). If there is objective evidence that the value of the
financial asset recovered and the recovery is related objectively to an event occurring after the impairment was
recognized, the previously recognized impairment loss is reversed and the amount of reversal is recognized in profit
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or loss.
When an impairment loss on a financial asset measured at cost has occurred, the amount of loss is provided for at
the difference between the asset’s carrying amount and the present value of its estimated future cash flows. The
impairment loss on such financial asset is not reversed once it is recognized.
Where there is objective evidence that an impairment loss on available-for-sale financial assets occurs, the
cumulative loss arising from the decline in fair value that had been recognized directly in equity is removed from
equity and recognized in impairment loss. For en investment in debt instrument classified as available-for-sale on
which impairment losses have been recognized, if, in a subsequent period, its fair value increases and the increase
can be objectively related to an even occurring after the impairment loss was recognized in profit or loss, the
previously recognized impairment loss is reversed and recognized in profit or loss for the current period. For an
investment in an equity instrument classified as available-for-sale on which impairment losses have been recognized,
the increase in its fair value in a subsequent period is recognized in equity directly.
For investments in equity instruments, the specific quantitative criteria for the Company to determine “serious” or
“not temporary” decrease in their fair value, cost computing method, method for determining closing fair value, and
basis for determining the continuous decrease period are set out below:
Specific quantitative criterion on “serious” decrease in their Decrease in closing fair value relative to the cost has reached or
fair value exceeded 50%
Specific quantitative criterion on “not temporary” decrease in
Fall for 12 consecutive months
their fair value
Consideration of payment at acquisition (net of cash dividends declared
Cost computing method but not yet paid or due but unpaid interest on bonds) and the relevant
transaction cost are recognized as the investment cost.
As for a financial instrument for which there is an active market, the
quoted prices in the active market shall be used to recognize the fair
Method for determining closing fair value values thereof. Where there is no active market for a financial
instrument, the enterprise concerned shall adopt value appraisal
techniques to determine its fair value.
The rebound in the continuous fall or the period with the tread of fall is
Basis for determining the
less than 20% margin. Rebound duration not more than six months is
continuous decrease period
treated as continuous decrease period.
11. Account receivable
(1) Account receivables with single major amount and withdrawal bad debt provision independently
Book balance of the account receivable with over one million
Criterion or amount standards of major single amount
Yuan (one million yean inclusive)
Withdrawal method for individual bad debt provision accrual Recognized on the difference between the book value and the
with major single amount concerned current value of the estimative future cash flow
(2) Account receivable with bad debt provision accrual by portfolio
Portfolio Accrued method for bad
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Age portfolio Aging of accounts
Withdrawing bad bed provision by aging method in portfolio:
√ Applicable □ Not applicable
Accrued proportion of other accounts
Account ages Accrued proportion of accounts receivable
receivable
Within six months 5.00% 5.00%
6 months – 1 year (including 1 year) 10.00% 10.00%
1－2 years 30.00% 30.00%
2－3 years 50.00% 50.00%
Over three years 100.00% 100.00%
Withdrawing bad bed provision by percentage of total accounts receivable outstanding in portfolio:
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio :
□ Applicable √ Not applicable
(3) Account receivable with minor single amount but has individual bad debt provision accrual
Account receivable with over three years in account age and has
Reasons for individual bad debt prevision accrual
objective evidence of impairment appears
Recognized on the difference between the book value and the
Accrued method for bad debt provision
current value of the estimative future cash flow
12. Inventory
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(1)Classification of inventory
Inventory means finished goods and merchandise that are ready for sale, work-in-progress, or material used in the
process of production or provision of service in the ordinary course of business. Inventory includes raw materials,
low value consumables, merchandise in warehouse, supplementary materials and packing materials.
(2)Measurement
Inventories, when delivered, would be determined the actual cost under moving weighted average method.
(3)Provision for impairment of inventory
At the balance sheet date, inventory is recorded at the lower of cost and net realizable value on an individual basis.
For items with significant quantity and low values, provision is made based on their categories.
Net realizable value of inventories is determined as follows: 1) net realizable value of finished goods is the estimated
selling price less relevant tax and selling expenses. The inventories of the Company mainly refer to longline fishing
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tuna. The ending net realizable value is determined at the quotation of Qingshui Fishery Ground of Japan on the
date which is the most close to the balance sheet date less the relevant expenses that would occur to realize product
sales; 2) for materials held for production, net realizable value equals the cost if the net realizable value of the
finished goods produced from the materials exceeds the cost; when the price of raw materials decreases indicating
that the net realizable value of the relevant finished goods would be lower than cost, the net realizable value is the
estimated selling price less costs to completion, selling expenses and relevant tax; and 3) net realizable value of
materials held for sale is the market price.
(4)Inventory stocking system
The Company adopts perpetual inventory system for stocking.
(5)Amortization of low value consumables and packing materials
The Company adopts fifty amortization method for low value consumables and packing materials.
13. Classify to assets available for sale
14. Long term equity investment
(1) Recognition of initial investment cost
Initial investment cost of long term equity investment obtained by corporate consolidation: in the case of the
consolidation of enterprises under the same control, recognized as the initial cost is the book value of the owners’
equity obtained from the consolidated party; in the case of the consolidation of enterprises not under the same
control, recognized as the initial cost is the recognized consolidation cost on the purchase day. As for the long term
equity investment obtained by cash payment, the initial investment cost is the actual purchase payment. As for the
long term equity investment obtained by the equity securities offering, the initial investment cost is the fair value of
the equity securities. As for the long-term equity investment obtained by debt reorganization, initial investment cost
of such investment should determine by relevant regulation of the “Accounting Standards for Business Enterprise
No.12- Debt Reorganization”; As for the long term equity investment obtained by the exchange of the non-monetary
assets and the debts restructuring, the initial investment cost is recognized on the relevant rules in the Principles.
(2) Subsequent measurement and profit or loss recognition
Where the investor has a control over the investee, long-term equity investments are measured using cost method.
Long-term equity investments in associates and joint ventures are measured using equity method. Where part of the
equity investments of an investor in its associates are held indirectly through venture investment institutions,
common fund, trust companies or other similar entities including investment linked insurance funds, such part of
equity investments indirectly held by the investor shall be measured at fair value through profit or loss according to
according to relevant requirements of Accounting Standards for Business Enterprises No.22—Recognization and
measurement of Financial Instruments regardless whether the above entities have significant influence on such part
of equity investments, while the remaining part shall be measured using equity method.
(3) Basis of conclusion for common control and significant influence over the investee
Joint control over an investee refers to where the activities which have a significant influence on return on certain
arrangement could be decided only by mutual consent of the investing parties sharing the control, which includes
the sales and purchase of goods or services, management of financial assets, acquisition and disposal of assets,
research and development activities and financing activities, etc.; Significant influence on the investee refers to that:
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significant influence over the investee exists when holding more than 20% but less than 50% of the shares with
voting rights or even if the holding is below 20%, there is still significant influence if any of the following conditions
is met: there is representative in the board of directors or similar governing body of the investee; participation in the
investee’s policy setting process; assign key management to the investee; the investee relies on the technology or
technical information of the investing company; or major transactions with the investee.
15. Investment real estate
Measurement for investment real estate
Cost method
Depreciation or amortization method
Category of the Company’s investment real estate: rented land use rights, rented buildings and land use rights held
for transfer after appreciation. Investment real estate of the Company is initially measured by cost and conducting
follow-up measures by cost mode.
Accrued on the year averaging is the depreciation of the lease buildings in the Company’s investment property. The
detailed check principle is same as that of the fixed assets. The rented land use rights and land use rights held for
transfer after appreciation owned by the Company was adopted line amortization method. Detail calculation policy
was similar to intangible assets.
16. Fixed assets
(1) Recognition
The fixed assets are tangible assets held for the goods production, labor supply, lease or operation & management,
and with above one-accounting-year service life; meanwhile as up to the following conditions, they are recognized:
The economic interest related to the fixed assets probably flow into the Company; The cost of the fixed assets can
be measured reliably.
(2) Depreciation method
Category Depreciation method Depreciation life (year) Salvage rate Annual depreciation rate
House and building Straight-line depreciation 20-40 0-10% 2.00%-5.00%
Vessel and netting gear Straight-line depreciation 5-30 3%-5% 3.17%-19.40%
Machine equipment Straight-line depreciation 8-20 0-10% 5.00%-12.00%
Transportation
Straight-line depreciation 5 0-10% 19.00%-19.40%
equipment
Furniture and office
Straight-line depreciation 5 0-10% 19.00%-19.40%
equipment
The Company's fixed assets mainly include housing and buildings, vessels and netting, machinery and equipment, transportation
equipment, furniture and office equipment; and the depreciation method adopts the straight-line depreciation. The useful life and
estimated net residual value of fixed assets are determined by the nature and use condition of various types of fixed assets. The useful
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life, estimated net residual value, and depreciation method of fixed assets are rechecked at the end of the year, if there is difference
with the former estimated number, corresponding adjustments should be made. In addition to the fixed assets that have been accrued
depreciation and still continue to use and the land that has been separately valued and recorded, the Company counts and draws the
depreciation of all fixed assets.
(3) Recognition, evaluation and depreciation of the fixed assets under finance lease
Recognition of fixed assets under finance lease: the nature of this kind of lease is a transfer of all risk and rewards
related to the ownership of assets. Measurement of fixed assets under finance lease: the initial amount of a fixed
asset under finance lease should be recorded as the lower of fair value of the leased asset at the beginning date of
lease term and the present value of minimum lease payment. Subsequent measurement of fixed assets under finance
lease should be in accordance with the accounting policies adopted for self-owned fixed assets in respect of
provision of depreciation and impairment.
17. Project in progress
Project in progress of the Company divided as self-run construction and out-bag construction. The project in
progress of the Company carried forward as fixed assets while the construction is ready for the intended use. Criteria
of the expected condition for use should apply one of the follow conditions: The substance construction (installation
included) of the fixed assets has completed all or basically; As the projects have been in test production or operation,
and the results show that the assets can operate properly and produce the qualified products stably, or the test
operation result shows the assets can operate or open properly. The expenditure of the fixed assets on the
construction, is a little or little. The fixed assets of the project constructed have been up to the requirements of the
design or contract, or basically up to.
18. Borrowing expenses
(1) Recognition principle on capitalization of borrowing expenses
As for the Company’s actual borrowing expenses directly attributable to the assets construction or production, it is
capitalized and reckoned into the relevant assets cost; as for other borrowing expenses, it is recognized on the actual
sum and reckoned into the current loss/gain. The assets up to the capitalization are assets as the capital assets,
investment real estate, and inventory reaching the expectant availability or sale ability.
(2) Calculation of the capitalization
Capitalization term: the period from the time starts to capitalization to the time the capitalization ends. The period
of capitalization suspended is not included. The capitalization of borrowing expenses should be suspended while
the abnormal interrupt, which surpass three months continuously, in the middle of acquisition or construction or
production.
As for the borrowing of the specific borrowing, the capitalization sum is recognized on the current actual interest
expenses less the interest income of the borrowing capital not utilized but deposited in the bank or the return of the
temporary investment; As for the appropriation of the general borrowing, the capitalization sum is recognized on
the weighted average of, the accumulative assets expenditure above the specific borrowing, and times the
capitalization rate of the appropriation; As for the discount or premium of the borrowing, the discount or premium
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to be diluted in every accounting period is recognized in the actual rate method.
The effective interest method is the method for the measurement of the diluted discount or premium or interest
expenses on the actual interest rate; and the actual interest rate is the interest rate used in the discount of the future
cash flow in the expectant duration period as the current book value of the borrowing.
19. Biological assets
20. Oil-and-gas assets
21. Intangible assets
(1) Accounting method, service life and impairment test
1) Accounting method for intangible assets
The Company’s intangible assets are measured initially on cost. The intangible assets purchased in are taken as the
actual cost on the actual payment and relevant expenditure. As for the intangible assets invested in by the investors,
the actual cost is recognized on the value stipulated in the contract or agreement; however, if what is stipulated in
the contract or agreement is not fair value, the actual cost is recognized on fair value. As for the self-developed
intangible assets, their cost is the actual total expenditure before reaching the expectant purpose.
The follow-up measurements of the Company’s intangible assets respectively are: the line amortization method is
taken on the intangible assets of finite service life, and at the yea-end, the check is taken on the service life and
dilution of the intangible assets, and the corresponding adjustment is made if there is inconsistency with the previous
estimative ones. As for the intangible assets of uncertain service life, it is not diluted, however, the service life is
checked at year-end; If there is solid evidence to its finite service life, its service life is estimated and diluted in
straight line method.
2) Recognition principle of intangible assets with uncertain service life
Recognized as the intangible assets of uncertain service life is refers to those intangible assets of un-expectable
period of economic benefits brought into the Company, or of the uncertain service period. Recognition principle of
uncertain service life: from contract right or other legal rights, the uncertain service period is stipulated in the
contract or law; after the integration of the situations and relevant expertise argumentation in the same trade, the
period of the economic interest brought into the Company by the intangible assets still cannot be recognized.
At every year-end, the check is taken on the intangible assets of uncertain service life, mainly in bottom-up way,
namely the basic check is taken by the department relevant to the assets utilization, to assess whether there is change
in the recognition principle of the uncertain service life.
(2) Accounting policy of the internal R&D expenditure
22. Long-term investment impairment
Long-term equity investments, investment properties measured at cost and long-term assets such as fixed assets,
construction in progress, productive biological assets at cost method, oil and gas assets, intangible assets and
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goodwill are tested for impairment if there is any indication that an asset may be impaired at the balance date. If the
result of the impairment test indicates that the recoverable amount of the asset is less than its carrying amount, a
provision for impairment and an impairment loss are recognized for the amount by which the asset’s carrying
amount exceeds its recoverable amount.
The recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the future
cash flows expected to be derived from the asset. Provision for asset impairment is determined and recognized on
the individual asset basis. If it is not possible to estimate the recoverable amount of an individual asset, the
recoverable amount of a group of assets to which the asset belongs is determined. A group of assets is the smallest
group of assets that is able to generate independent cash inflows.
Goodwill arising from a business combination is tested for impairment at least at each year end, irrespective of
whether there is any indication that the asset may be impaired. For the purpose of impairment testing, the carrying
amount of goodwill acquired in a business combination is allocated from the acquisition date on a reasonable basis
to each of the related asset groups; if it is impossible to allocate to the related asset groups, it is allocated to each of
the related set of asset groups. If the carrying amount of the asset group or set of asset groups is higher than its
recoverable amount, the amount of the impairment loss first reduced by the carrying amount of the goodwill
allocated to the asset group or set of asset groups, and then the carrying amount of other assets (other than the
goodwill) within the asset group or set of asset groups, pro rata based on the carrying amount of each asset.
Once the impairment loss of such assets is recognized, it is not be reversed in any subsequent period.
23. Long-term deferred expenditure
The Company’s long-term deferred expenditure are expenses paid out and with one year above (1-year included)
benefit period. The long-term unamortized expenses are diluted by periods according to the benefit period. As the
long-term unamortized expenses cannot enable the accounting period’s beneficiary, all dilution values of the project
undiluted yet, are transferred into the current loss/gain.
24. Employees benefits
(1) Accounting for short-term benefits
In the period of employee services, short-term benefits are actually recognized as liabilities and charged to profit or
loss, or if otherwise required or allowed by other accounting standards, to the related costs of assets for the current
period. At the time of actual occurrence, The Company’s employee benefits are recorded into the profits and losses
of the current year or assets associated costs according to the actual amount. The non-monetary employee benefits
are measured at fair value. Regarding to the medical and health insurance, industrial injury insurance, maternity
insurance and other social insurances, housing fund and labor union expenditure and personnel education that the
Company paid for employees, the Company should recognize corresponding employees benefits payable according
to the appropriation basis and proportion as stipulated by relevant requirements and recognize the corresponding
liabilities and include these expenses in the profits or losses of the current period or recognized as respective assets
costs.
(2) Accounting for post-employment benefits
During the accounting period in which an employee provides service, the amount payable calculated under defined
68
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
contribution scheme shall be recognized as a liability and recorded in profit and loss of the current period or in
assets. In respect of the defined benefit scheme, the Company shall use the projected unit credit method and attribute
the welfare obligations calculated using the formula stipulated by the defined benefit scheme to the service period
of the employee, and record the obligation in the current profit and loss or related assets cost.
(3) Accounting for termination benefits
The Company recognizes a liability and expenses in the current profit or loss for termination benefits at the earlier
of the following dates: when the Company can no longer withdraw the offer of those benefits; and when the
Company recognizes costs for restructuring involving the payment of termination costs.
(4) Accounting for other long-term employee benefits.
The Company provides other long-term employee benefits to its employees. For those falling within the scope of
defined contribution scheme, the Company shall account for them according to relevant requirements of the defined
contribution scheme. In addition, the Company recognizes and measures the net liabilities or net assets of the other
long-term employee benefits according to relevant requirements of the defined contribution scheme.
25. Accrual liability
26. Share-based payment
27. Other financial instrument of preferred stock and perpetual capital securities
28. Revenue
Whether the company needs to comply with the disclosure requirements of the particular industry
No
29. Government subsidy
(1) Determination basis and accounting treatment for government grants related to assets
Government grant obtained by the Company for the purpose of constructing or otherwise forming long term assets
is recognized as government grant related to assets which will be recognized as deferred income. Deferred income
is averagely allocated against the estimated service life of asset since the asset is available for use, and recorded in
profit or loss for the current period.
(2) Determination basis and accounting treatment for government grants related to income
The government grants other than the government grants related to assets are recognized as government grants
related to income. Government grants related to income shall be treated as follows: those used to compensate
relevant expenses or losses to be incurred by the enterprise in subsequent periods are recognized as deferred income
and recorded in profit and loss for the current period when such expenses are recognized; and those used to
compensate relevant expenses or losses that have been incurred by the enterprise are recorded directly in profit or
69
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
loss for the current period.
30. Deferred income tax asset and deferred income tax liability
(1) Where there is difference between the carrying amount of the assets or liabilities and its tax base, (as for an item
that has not been recognized as an asset or liability, if its tax base can be determined in light of the tax law, the tax
base shall recognized as the difference) the deferred income tax and deferred income tax liabilities shall be
determined according to the applicable tax rate in period of assets expected to recover or liability expected to pay
off.
(2) The deferred income tax assets shall be recognized to the extent of the amount of the taxable income which it is
most likely to obtain and which can be deducted from the deductible temporary difference. On balance sheet date,
if there have concrete evidence of obtaining, in future period, enough taxable amounts to deduct the deductible
temporary difference, the un-confirmed deferred income tax assts in previous accounting period shall be recognized.
If there has no enough taxable amounts, obtained in future period, to deducted the deferred income tax assets, book
value of the deferred income tax assets shall be kept in decreased.
(3) The taxable temporary differences related to the investments of subsidiary companies and associated enterprises
shall recognized as deferred income tax liability, unless the Company can control the time of the reverse of
temporary differences and the temporary differences are unlikely to be reversed in the expected future. As for the
deductible temporary difference related to the investment of the subsidiary companies and associated enterprises,
deferred income tax assets shall be recognized while the temporary differences are likely to be reversed in the
expected future and it is likely to acquire any amount of taxable income tax that may be used for making up the
deductible temporary differences.
31. Leasing
(1) Accounting treatment for operating lease
Operating lease payments are recognized on a straight-line basis over the term of the relevant lease, and are either
included in the cost of related asset or charged to profit or loss for the period.
(2) Accounting treatment for finance lease
At the commencement of the lease term, the Group records the leased asset at an amount equal to the lower of the
fair value of the leased asset and the present value of the minimum lease payments. The difference between the
recorded amounts is accounted for as unrecognized finance charge, using the effective interest method amortization
during the lease term. Minimum lease payments deducting unrecognized financing charges are listed as long-term
payables.
32. Other important accounting policy and estimation
Nil
70
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
33. Changes in important accounting policies and estimates
(1) Changes in important accounting policies
□ Applicable √ Not applicable
(2) Changes in important accounting estimates
□ Applicable √ Not applicable
34. Other
Nil
VI. Taxes
1. Major tax and tax rate
Taxes Taxation basis Tax rate
VAT Output tax minor the deductible input tax 6%, 10%, 16%
Urban maintenance and construction tax Turnover taxes payable 7%
Corporate income ax Taxable amount Exemption, 8%, 25%
Explain the different taxation entity of the enterprise income tax
Taxation entity Income tax rate
Shandong Zhonglu Oceanic Fisheries Company Limited Imposing no tax on distant fishing, and 25% for the house leasing
Shandong Zhonglu Haiyan Oceanic Co., Ltd. Exemption
AFRICA STAR FISHERIES LIMITED 8% for export parts, 25% for domestic sales
HABITAT INTERNATIONAL CORPORATION Exemption
Shandong Zhonglu Fishery Shipping Co., Ltd. 25%
Imposing no tax on aquatic product processing, and 25% for
Shandong Zhonglu Oceanic (Yantai) Foods Co., Ltd.
refrigeration service
2. Preferential tax
(1) VAT tax preference:
According to the relevant provisions of the Circular About the Provisional Management Method of Not Levying the Tax on the Aquatic
Products Directly Caught by Ocean Fishery Enterprises (SS No. [2000] 260), China's ocean fishery enterprises stipulate on the high
seas or in accordance with the relevant agreements that the aquatic products caught in foreign sea areas and sent back for domestic
sales should be regarded as the domestic products and should not be levied the import duties and import VAT. If the corresponding
domestic sales business is the primary agricultural products sales, exempt from the VAT according to the provisions of VAT rules. The
Company's sales revenue from ocean-going fishing operations is exempt from VAT.
71
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(2) Income tax preference:
According to the Circular of the Preferential Policies Concerning Corporate Income Tax (CSZ No.[1994]001), the Letter About
Relevant Issue About Accelerating the Development of China's Ocean Fisheries (CN No. [2000] 104) of the Ministry of Finance, the
Enterprise Income Tax Law of the People's Republic of China (PRC Presidential Decree No. [2007] 63), the Enforcement Regulations
of Enterprise Income Tax Law of the People's Republic of China (PRC State Council Decree No. 512), Notice About Issuing the
Preliminary Processing Scope (Trial) of Agricultural Products that Enjoy the Preferential Policy of Enterprise Income Tax of Ministry
of Finance and State Administration of Taxation (CS No. [2008]149), and the Supplement Notice About the Preliminary Processing
Scope of Agricultural Products that Enjoy the Preferential Policy of Enterprise Income Tax of Ministry of Finance and State
Administration of Taxation (CS No. [2011] 26), the processing charges for the preliminary processing of agricultural products can be
handled by the tax-exempt items of preliminary processing of agricultural products. The Company's income obtained from the ocean-
going fishing business and the preliminary processing of agricultural products is exempted from corporate income tax. The Company's
income obtained from the business except for the ocean-going fishing and the preliminary processing of agricultural products should
pay the enterprise income tax at 25%.
3. Other
VII. Notes to main items in consolidated financial statement
1. Monetary fund
In RMB
Item Closing balance Opening balance
Cash on hand 2,763,209.95 1,252,378.69
Bank deposit 147,370,969.26 145,374,964.71
Other monetary fund 1,618,986.78 862,500.14
Total 151,753,165.99 147,489,843.54
Including: Total amount save aboard 23,098,072.20 8,621,445.18
Other explanation
2. Financial assets measured by fair value and with its variation reckoned into current gains/losses
In RMB
Item Closing balance Opening balance
Other explanation:
3. Derivative financial assets
□ Applicable √ Not applicable
72
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
4. Note receivable
(1) Category
In RMB
Item Closing balance Opening balance
(2) Note receivable pledged at period-end
In RMB
Item Amount pledged
(3) Note receivable which have endorsed and discount at period-end and has not expired on balance sheet
date
In RMB
Item De-reorganization amount at period-end Un de-reorganization amount at period-end
(4) Note transferred to account receivable due to the drawer failure to perform at period-end
In RMB
Item Amount transferred to account receivable at period-end
Other explanation
5. Account receivable
(1) Category of account receivable
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Proportio Accrual Proportio Accrual Book value
Amount Amount value Amount Amount
n ratio n ratio
Account receivable
with bad debt 52,768,8 8,038,23 44,730,56 46,984, 8,191,680 38,792,912.
100.00% 15.23% 100.00% 17.43%
provision accrual by 06.60 8.65 7.95 593.00 .11 89
portfolio
52,768,8 8,038,23 44,730,56 46,984, 8,191,680 38,792,912.
Total 100.00% 15.23% 100.00% 17.43%
06.60 8.65 7.95 593.00 .11 89
Account receivable with major single amount and withdrawal bad debt provision single at period-end:
□ Applicable √ Not applicable
73
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
Closing balance
Account age
Account receivable Bad debt provision Accrual ratio
Sub-item of within one year
1-6 months 45,950,442.81 2,203,386.98 4.80%
7-12 months 1,092,090.28 108,578.16 9.94%
Subtotal of within one year 47,042,533.09 2,311,965.14 4.91%
Over three years 5,726,273.51 5,726,273.51 100.00%
Total 52,768,806.60 8,038,238.65
Explanation on portfolio basis:
Withdrawing bad bed provision by percentage of total accounts receivable outstanding in portfolio:
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
(2) Bad debt provision accrual, switch-back or taken back in the period
Amount RMB 0 accrual in the Period; amount RMB 153,441.46 switch-back or taken back in the Period
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch back or taken back Way
Liye International 76,934.15 Receivables collected
Taiwan Taiyouli Enterprise Co., Ltd. 76,507.31 Receivables collected
Total 153,441.46 --
(3) Account receivables actually written-off during the reporting period
In RMB
Item Amount verified
Including major account receivables written-off:
In RMB
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on account receivable written-off
74
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(4) Top five receivables collected by arrears party at ending balance
Company Ending balance Ratio in total other account receivable (%)
TAI UNION ENTERPRISE CO.,LTD
6,682,668.47 12.66%
Hong Kong Luen Thai Seafood 6,577,538.62 12.46%
Beishui Japan 3,989,380.88 7.56%
PANDA 3,600,962.12 6.82%
Ameican H&T SEAFOOD INC 3,118,421.99 5.91%
Total 23,968,972.08 45.42%
(5) Account receivables derecognized due to financial assets transfer
(6) Transfer the account receivable and assets & liabilities arising from further involvement
Other explanation:
6. Prepayments
(1) Prepayments listed by account age
In RMB
Closing balance Opening balance
Account age
Amount Proportion Amount Proportion
Within one year 13,370,603.36 100.00% 18,410,772.78 99.13%
1-2 years 0.00 0.00% 162,338.80 0.87%
2-3 years 0.00 0.00%
Over 3 years 0.00 0.00%
Total 13,370,603.36 -- 18,573,111.58 --
Explanation on prepayments with over one year in age and reasons of un-settle:
(2) Top 5 prepayments collected by objects at ending balance
Company Ending balance Ratio in total prepayment %
CARENA SHIP REPAIR 6,254,807.98 46.78%
BOSHUN LOGISTICS LIMITED 734084.77 5.49%
Dongyi Sea Transporation Personal 713,176.32 5.33%
Company
75
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Inspur 501,056.28 3.75%
Servotek motor S.L 499,422.77 3.74%
Total 8,702,548.12 65.09%
Other explanation:
7. Interest receivable
(1) Category
In RMB
Item Closing balance Opening balance
(2) Major overdue interest
Whether has impairment
Borrower Closing balance Overdue time Causes occurred and
determination basis
Other explanation:
8. Dividend receivable
(1) Dividend receivable
In RMB
Item (or invested company) Closing balance Opening balance
(2) Major dividend receivable with over one year aged
In RMB
Whether has impairment
Item (or invested
Closing balance Age Causes occurred and
company)
determination basis
Other explanation:
9. Other account receivable
(1) Category of other account receivable
In RMB
Closing balance Opening balance
Category
Book balance Bad debt provision Book Book balance Bad debt provision Book value
76
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Proportio Accrual value Proportio Accrual
Amount Amount Amount Amount
n ratio n ratio
Other account
receivable with bad 6,605,38 4,913,99 1,691,389 16,219, 4,913,990 11,305,713.
100.00% 74.39% 100.00% 30.30%
debt provision 0.34 0.90 .44 704.01 .90 11
accrual by portfolio
6,605,38 4,913,99 1,691,389 16,219, 4,913,990 11,305,713.
Total 100.00% 74.39% 100.00% 30.30%
0.34 0.90 .44 704.01 .90 11
Other account receivable with major single amount and withdrawal bad debt provision single at period-end:
□ Applicable √ Not applicable
Other account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
Closing balance
Account age
Other account receivable Bad debt provision Accrual ratio
Sub-item of within one year
1-6 months 1,583,794.30 402,787.73 25.43%
6-12 months 68,276.61 6,812.66 9.98%
Subtotal of within one year 1,652,070.91 409,600.39 24.79%
1-2 years 585,429.52 177,919.07 30.39%
2-3 years 81,430.73 40,022.26 49.15%
Over three years 4,286,449.18 4,286,449.18 100.00%
Total 6,605,380.34 4,913,990.90 74.39%
Explanation on portfolio basis:
Withdrawing bad bed provision by percentage of total other accounts receivable outstanding in portfolio
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
□ Applicable √ Not applicable
(2) Bad debt provision accrual, switch-back or taken back in reporting period
Amount RMB 0 accrual in the Period; amount RMB 0 switch-back or taken back in the Period.
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch-back or taken back Way
(3) Other receivables actually written-off during the reporting period
In RMB
77
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Item Amount verified
Including major other account receivables written-off:
In RMB
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on write-off of other receivables:
(4) Classify according to nature
In RMB
Nature Ending book balance Opening book balance
Receivable export refund tax 0.00 5,540,557.64
Margin 148,048.68 421,456.37
Insurance claims payment receivable 77,764.04 244,407.54
Transactions and others 6,379,567.62 10,013,282.46
Total 6,605,380.34 16,219,704.01
(5) Top 5 other receivables collected by arrears party at ending balance
In RMB
Proportion in total
Ending balance of
Company Nature Ending balance Account age other receivables at
bad debt provision
period-end
Transactions and
Tai Lulun 809,272.83 Over three years 12.25% 809,272.83
others
Li Henglai Personal loan 793,341.79 Over one years 12.01% 44,612.35
Gao Longxi Personal loan 432,624.41 Over one years 6.55% 24,327.97
Daihatsu Intercourse funds 288,896.39 Over five years 4.37% 288,896.39
DIVING-SEAGULL Intercourse funds 207,072.50 Over five years 3.13% 207,072.50
Total -- 2,531,207.92 -- 38.32% 1,374,182.04
(6)Account receivable involved government subsidies
In RMB
Time, amount and basis
Company Government subsidies Ending balance Ending account age
estimated to received
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(7) Other account receivables derecognized due to financial assets transfer
(8) Transfer the other account receivable and assets & liabilities arising from further involvement
Other explanation:
10. Inventory
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(1) Category of inventory
In RMB
Closing balance Opening balance
Item Provision for Provision for
Book balance Book value Book balance Book value
price fall-down price fall-down
Raw materials 155,255,459.29 45,543.42 155,209,915.87 125,849,777.03 45,543.42 125,804,233.61
Goods in process 0.00 0.00 0.00 0.00 0.00 0.00
Inventory 147,869,434.15 888,594.38 146,980,839.77 98,514,789.13 1,349,243.78 97,165,545.35
Revolving
1,388,402.18 0.00 1,388,402.18 1,038,881.75 0.00 1,038,881.75
material
Consumptive
0.00 0.00 0.00 0.00 0.00
biological assets
Assets completed
without
settlement
0.00 0.00 0.00 0.00 0.00
resulted from
construction
contract
Low value
232,725.45 0.00 232,725.45 688,367.24 688,367.24
consumables
Goods in transit 19,047,562.12 19,047,562.12
Total 304,746,021.07 934,137.80 303,811,883.27 245,139,377.27 1,394,787.20 243,744,590.07
Does the Company comply with the disclosure requirement of “Information Disclosure Guidelines of Shenzhen Stock Exchange No.4
– Listed Companies Engaged in Seed Industry and Planting Business” or not
No
(2) Provision for price fall-down
In RMB
79
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Current increased Current decreased
Items Opening balance Switch back or Closing balance
Accrual Other Other
Written-off
Raw materials 45,543.42 45,543.42
Goods in process 0.00 0.00
Inventory 1,349,243.78 2,053.90 462,703.30 888,594.38
Revolving
0.00 0.00
material
Consumptive
0.00 0.00
biological assets
Assets completed
without
settlement
0.00 0.00
resulted from
construction
contract
Total 1,394,787.20 2,053.90 462,703.30 934,137.80
(3) Explanation on capitalization of borrowing costs in ending balance of inventory
(4) Assets completed without settle resulted by construction contract at period-end
In RMB
Items Amount
Other explanation:
11. Classified as assets held for sale
In RMB
Expected disposal
Item Ending book value Fair value Expected disposal time
expenses
Other explanation:
12. Non-current assets due within one year
In RMB
Item Closing balance Opening balance
Other explanation:
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
13. Other current assets
In RMB
Items Closing balance Opening balance
Input VAT 28,802,602.21 29,993,482.01
Income tax prepaid 88,480.55
Total 28,802,602.21 30,081,962.56
Other explanation:
14. Finance asset available for sales
(1) Finance asset available for sales
In RMB
Closing balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Equity instrument available
33,000,000.00 33,000,000.00 0.00 33,000,000.00 33,000,000.00 0.00
for sales:
Measured by cost 33,000,000.00 33,000,000.00 0.00 33,000,000.00 33,000,000.00 0.00
Total 33,000,000.00 33,000,000.00 33,000,000.00 33,000,000.00
(2) Finance asset available for sales measured by fair value at period-end
In RMB
Equity instrument Debt instrument
Category Total
available for sale available for sale
(3) Finance asset available for sales measured by cost at period-end
In RMB
Book balance Impairment provision Cash
Invested Holding dividend
Period- Decrease Period- Decrease proportion in
Increase in Increase in
Unit in the Period-end in the Period-end invested unit for the
begin the period begin the period
period period period
South
33,000,000 33,000,000 33,000,000 33,000,000
Securities 0.87%
.00 .00 .00 .00
Co., Ltd.
33,000,000 33,000,000 33,000,000 33,000,000
Total --
.00 .00 .00 .00
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(4) Impairment reserve of finance asset available for sales
In RMB
Equity instrument Debt instrument
Category Total
available for sale available for sale
(5) Explanation on closing fair value of equity instrument available for sale which was down sharply or other-
than-temporary drop without accrual the impairment provision
In RMB
Decline changes
Time to drop Accrual
Equity instrument of fair value Reasons without
Investment cost Ending fair value continuously impairment
available for sale comparing with accrual
(month) amount
its costs
Other explanation
15. Held-to-maturity investment
(1) Held-to-maturity investment
In RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
(2) Major held-to-maturity investment at Period-end
In RMB
Bond Face value Coupon rate Real interest rates Maturity date
(3) Re-classified as held-to-maturity investment in the period
Other explanation
16. Long-term account receivable
(1) Long-term account receivable
In RMB
Closing balance Opening balance
Discount rate
Item Bad debt Bad debt
Book balance Book value Book balance Book value interval
provision provision
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(2) Long-term account receivable derecognition due to financial assets transfer
(3) Assets and liabilities resulted by long-term account receivable transfer and continues involvement
Other explanation
17. Long-term equity investment
In RMB
+,-
Ending
Other Cash
Investme balance
The Additiona comprehe dividend
Opening nt gains Other Closing of
invested l Capital nsive or profit Impairme
balance recognize equity Other balance impairme
entity investmen reduction income announce nt accrual
d under change nt
t adjustmen d to
equity provision
t issued
I. Joint venture
II. Associated enterprise
Other explanation
18. Investment real estate
(1) Investment real estate measured at cost
√ Applicable □ Not applicable
In RMB
Item House and building Land use right Construction in process Total
I. Original book value
1.Opening balance 47,701,971.19 0.00 0.00 47,701,971.19
2.Current increased 0.00 0.00 0.00 0.00
(1) Outsourcing 0.00 0.00 0.00 0.00
(2) Inventory\fixed
assets\construction in 0.00 0.00 0.00 0.00
process transfer-in
(3) Increased by
0.00 0.00 0.00 0.00
combination
3.Current decreased 0.00 0.00 0.00 0.00
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer- 0.00 0.00 0.00 0.00
83
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
out
4.Closing balance 47,701,971.19 0.00 0.00 47,701,971.19
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 15,121,084.00 0.00 0.00 15,121,084.00
2.Current increased 614,928.12 0.00 0.00 614,928.12
(1) Accrual or
614,928.12 0.00 0.00 614,928.12
amortization
3.Current decreased 0.00 0.00 0.00 0.00
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer-
0.00 0.00 0.00 0.00
out
4.Closing balance 15,736,012.12 0.00 0.00 15,736,012.12
III. Depreciation reserves
1.Opening balance 886,512.06 0.00 0.00 886,512.06
2.Current increased 0.00 0.00 0.00 0.00
(1) Accrual 0.00 0.00 0.00 0.00
3. Current decreased 0.00 0.00 0.00 0.00
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer-
0.00 0.00 0.00 0.00
out
4.Closing balance 886,512.06 0.00 0.00 886,512.06
IV. Book value 0.00 0.00 0.00 0.00
1. Ending Book
31,079,447.01 0.00 0.00 31,079,447.01
value
2. Opening Book
31,694,375.13 0.00 0.00 31,694,375.13
value
84
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(2) Investment real estate measure on fair value
□ Applicable √ Not applicable
(3) Investment real estate without property certificate completed
In RMB
Items Book value Reasons
Other explanation
19. Fixed assets
(1) Fixed assets
In RMB
House and Vessel and netting Machine Transportation Furniture and
Items Total
building gear equipment equipment office equipment
I. Original book
value:
1.Opening
116,743,454.93 602,839,486.21 42,657,969.71 5,906,394.19 11,416,499.53 779,563,804.57
balance
2.Current
0.00 2,884,492.16 530,347.43 517,953.68 586,381.26 4,519,174.53
increased
(1)
0.00 2,780,727.63 530,347.43 514,970.73 584,490.08 4,410,535.87
Purchasing
(2)
Construction in
0.00 0.00 0.00 0.00 0.00 0.00
progress transfer-
in
(3) Increased
0.00 0.00 0.00 0.00 0.00 0.00
by combination
(4)
Fluctuations in 0.00 103,764.53 0.00 2,982.95 1,891.18 108,638.66
exchange
3.Current
0.00 1,380,624.37 53,177.78 100,000.00 74,043.21 1,607,845.36
decreased
(1) Disposal
0.00 0.00 53,177.78 100,000.00 73,808.80 226,986.58
or scrapping
(2)
Fluctuations in 0.00 1,380,624.37 0.00 0.00 234.41 1,380,858.78
exchange
85
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
4.Closing
116,743,454.93 604,343,354.00 43,135,139.36 6,324,347.87 11,928,837.58 782,475,133.74
balance
II. Accumulative
0.00 0.00 0.00 0.00 0.00 0.00
depreciation
1.Opening
25,874,051.83 197,594,542.87 17,917,512.15 4,204,646.87 7,840,213.47 253,430,967.19
balance
2.Current
1,330,615.14 16,170,758.67 1,525,732.61 274,720.11 313,177.59 19,615,004.12
increased
(1) Accrual 1,330,615.14 16,170,758.67 1,525,732.61 274,720.11 313,177.59 19,615,004.12
0.00 0.00 0.00 0.00 0.00
3.Current
0.00 0.00 31,963.39 90,000.00 69,694.47 191,657.86
decreased
(1) Disposal
0.00 0.00 31,963.39 90,000.00 69,694.47 191,657.86
or scrapping
0.00 0.00 0.00 0.00 0.00 0.00
4.Closing
27,204,666.97 213,765,301.54 19,411,281.37 4,389,366.98 8,083,696.59 272,854,313.45
balance
III. Depreciation
0.00 0.00 0.00 0.00 0.00 0.00
reserves
1.Opening
0.00 157,573.50 0.00 0.00 0.00 157,573.50
balance
2.Current
0.00 0.00 0.00 0.00 0.00 0.00
increased
(1) Accrual 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
3.Current
0.00 0.00 0.00 0.00 0.00 0.00
decreased
(1) Disposal
0.00 0.00 0.00 0.00 0.00 0.00
or scrapping
0.00 0.00 0.00 0.00 0.00 0.00
4.Closing
0.00 157,573.50 0.00 0.00 0.00 157,573.50
balance
IV. Book value 0.00 0.00 0.00 0.00 0.00 0.00
1. Ending
89,538,787.96 390,420,478.96 23,723,857.99 1,934,980.89 3,845,140.99 509,463,246.79
Book value
2. Opening
90,869,403.10 405,087,369.84 24,740,457.56 1,701,747.32 3,576,286.06 525,975,263.88
Book value
86
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(2) Temporary idle fixed assets
In RMB
Depreciation Impairment
Items Original book value Book value Note
accumulative provision
(3) Fixed assets leasing-in by financing lease
In RMB
Depreciation
Items Original book value Impairment provision Book value
accumulative
(4) Fixed assets leasing-out by operational lease
In RMB
Items Ending book value
(5) Fixed assets without property certificate obtained
In RMB
Items Book value Reasons for certificate un-settled
Other explanation
Pursuant to the Debt Compensation Opinion entered into between the Company and Shandong Aquatic Products Group in April 2006
and the civil verdict issued by People Court of Lixia district of Jinan city (2005 LZZDi-1299), the comprehensive office building
owned by Shandong Aquatic Products Group at No.43, Heping road, Lixia District, Jinan with original value of RMB54,221,197.05
(among which, RMB9,592,434.61 was recorded as fixed assets and others were recorded as investment property) was ruled to be vested
to the Company, so as to compensate the relevant debts. Building ownership transfer has not been registered yet; management of the
Company is in the process of making active coordination among various parties seeking for early completion of such registration.
20. Construction in progress
(1) Construction in progress
In RMB
Closing balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Renovation of the
15,213.68 0.00 15,213.68
sewage treatment
Atlantic fencing 4,077,658.55 4,077,658.55 0.00 4,077,658.55 4,077,658.55 0.00
Total 4,092,872.23 4,077,658.55 15,213.68 4,077,658.55 4,077,658.55
87
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(2) Changes of major project in progress
In RMB
Accumul
Proporti Includin
ative
on of g:
Transfer Other amount
Opening Current Ending project Work interest Capitaliz Capital
Item Budget to fixed decreasin of
balance increased balance investme progress capitaliz ing rate resources
assets g interest
nt in ation in
capitaliz
budget Period
ation
(3) Impairment provision of construction in process accrual in the Period
In RMB
Items Accrual amount Reasons
Other explanation
21. Engineering material
In RMB
Items Closing balance Opening balance
Other explanation:
22. Disposal of fixed assets
In RMB
Items Closing balance Opening balance
Other explanation:
23. Productive biological assets
(1) Measured by cost
□ Applicable √ Not applicable
(2) Measured by fair value
□ Applicable √ Not applicable
24. Oil/gas assets
□ Applicable √ Not applicable
88
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
25. Intangible assets
(1) Intangible assets
In RMB
Non-patented
Items Land use right Patent right Computer software Total
technology
I. Original book
value
1.Opening
17,154,729.00 1,031,396.71 18,186,125.71
balance
2.Current
increased
(1) Purchasing
(2) Internal
R&D
(3) Increased by
combination
3.Current
decreased
(1) Disposal
4.Closing
17,154,729.00 1,031,396.71 18,186,125.71
balance
II. Accumulated
amortization
1.Opening
4,453,772.33 236,405.62 4,690,177.95
balance
2.Current
191,935.08 84,833.78 276,768.86
increased
(1) Accrual 191,935.08 84,833.78 276,768.86
3.Current
decreased
(1) Disposal
4.Closing 4,645,707.41 321,239.40 4,966,946.81
89
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
balance
III. Depreciation
reserves
1.Opening
balance
2.Current
increased
(1) Accrual
3.Current
decreased
(1) disposal
4.Closing
balance
IV. Book value
1. Ending Book
12,509,021.59 710,157.31 13,219,178.90
value
2. Opening
12,700,956.67 794,991.09 13,495,947.76
Book value
The proportion of intangible assets form by internal R&D in total book value of intangible assets at period-end.
(2) Land use right without property certificate completed
In RMB
Items Book value Reasons
Other explanation:
26. Development expenses
In RMB
Opening Closing
Items Current increased Current decreased
balance balance
Other explanation
27. Goodwill
(1) Original book value of goodwill
In RMB
90
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
The invested
entity of events
Opening balance Increase during the period Decrease during this period Closing balance
with goodwill
resulted
(2) Impairment provision of goodwill
In RMB
The invested
entity of events
Opening balance Increase during the period Decrease during this period Closing balance
with goodwill
resulted
Explain the impairment testing, parameter and recognition method of the impairment losses of goodwill:
Other explanation
28. Long-term deferred expenditure
In RMB
Items Opening balance Current increased Amortized in Period Other decreased Closing balance
Amortization of
516,181.25 106,796.10 409,385.15
decoration in HQ
Total 516,181.25 106,796.10 409,385.15
Other explanation
29. Deferred income tax asset /deferred income tax liability
(1) Deferred income tax assets un-offset
In RMB
Closing balance Opening balance
Items Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Asset impairment
7,946,784.20 1,986,696.05 1,146,784.18 286,696.05
provision
Total 7,946,784.20 1,986,696.05 1,146,784.18 286,696.05
(2) Deferred income tax liabilities un-offset
In RMB
Items Closing balance Opening balance
91
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liability differences liability
(3) Amount of deferred income tax asset and deferred income tax liability after trade-off
In RMB
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Items deferred income tax
assets or liabilities after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred tax assets 1,986,696.05 286,696.05
(4) Deferred income tax asset without confirmed
In RMB
Items Closing balance Opening balance
(5) Deductible losses of deferred income tax asset without confirmed will expired in later year
In RMB
Year Closing amount Opening amount Note
Other explanation:
30. Other non-current assets
In RMB
Items Closing balance Opening balance
Account for lands paid in advance 2,000,000.00 2,000,000.00
Account for equipment paid in advance 1,316,360.85 1,527,165.98
Software 285,524.92
Total 3,601,885.77 3,527,165.98
Other explanation:
31. Short-term borrowing
(1) Category of short-term borrowing
In RMB
Items Closing balance Opening balance
Mortgage loan 36,000,000.00 36,000,000.00
92
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Guaranteed loan 27,607,615.40 100,000,000.00
Credit loan 0.00 40,394,931.62
Total 63,607,615.40 176,394,931.62
Explanation on category of short-term borrowing:
(2) Short-term loans un-paid by expired
Total short-term loans un-paid by expired at end of the Period was 0 Yuan, including important short-term loans are as:
In RMB
Unit Ending balance Loans rate Overdue time Overdue interest rate
Other explanation:
32. Financial liability measured by fair value and with its variation reckoned into current gains/losses
In RMB
Item Closing balance Opening balance
Other explanation:
33. Derivative financial liabilities
□ Applicable √ Not applicable
34. Note payable
In RMB
Category Closing balance Opening balance
Totally Yuan due note payable are paid at period-end.
35. Account payable
(1) Account payable
In RMB
Items Closing balance Opening balance
Within one year (one year included) 87,901,649.88 57,101,822.73
Over one year 4,816,644.84 8,102,435.25
Total 92,718,294.72 65,204,257.98
(2) Major account payable over one year
In RMB
93
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Items Closing balance Reasons of un-paid or carry-over
Other explanation:
36. Account received in advance
(1) Account received in advance
In RMB
Items Closing balance Opening balance
Within one year (one year included) 28,248,806.80 19,187,510.18
Over one year 349,863.72 687,612.58
Total 28,598,670.52 19,875,122.76
(2) Major account received in advance with over one year age
In RMB
Items Closing balance Reasons of un-paid or carry-over
(3) Projects un-completed but settled from construction contract at end of the Period
In RMB
Items Amount
Other explanation:
37. Salary payable
(1) Salary payable
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
I. Short-term compensation 42,768,314.83 55,311,014.53 61,335,587.04 36,743,742.32
II. Post-employment
welfare- defined 37.70 2,946,596.06 2,946,595.58 38.18
contribution plans
III. Dismissal welfare 85,822.26 867,333.21 915,380.14 37,775.33
Total 42,854,174.79 59,124,943.80 65,197,562.76 36,781,555.83
94
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(2) Short-term compensation
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
1. Wages,bonuses,allowances
41,301,145.50 49,377,454.08 55,416,422.02 35,262,177.56
andsubsidies
2. Welfare for workers
2,330,704.08 2,330,704.08
and staff
3. Social insurance 2,033,086.45 2,033,086.45
Including: Medical
1,637,792.47 1,637,792.47
insurance
Work injury
129,303.32 129,303.32
insurance
Maternity
265,990.66 265,990.66
insurance
4. Housing accumulation
1,404,582.58 1,404,582.58
fund
5. Labor union
expenditure and
1,467,169.33 165,187.34 150,791.91 1,481,564.76
personnel education
expense
Total 42,768,314.83 55,311,014.53 61,335,587.04 36,743,742.32
(3) Defined contribution plans
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
1. Basic endowment
37.70 2,716,797.18 2,716,796.70 38.18
insurance
2. Unemployment
136,182.58 136,182.58
insurance
4. Other 93,616.30 93,616.30
Total 37.70 2,946,596.06 2,946,595.58 38.18
Other explanation:
38. Tax payable
In RMB
95
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Items Closing balance Opening balance
Value-added tax 208,070.33 298,473.86
Enterprise income tax 1,313,801.17 2,271,827.08
Individual income tax 93,776.47 119,102.33
Urban maintenance and construction tax 3,875.86 32,054.49
House property tax 260,204.69 273,051.86
Land use tax 60,465.18 158,804.18
Educational additional 1,288.92 22,896.07
Other tax 628,883.96 202,488.32
Total 2,570,366.58 3,378,698.19
Other explanation:
39. Interest payable
In RMB
Items Closing balance Opening balance
Interest payable for short-term loans 190,417.41 360,208.32
Total 190,417.41 360,208.32
Interest overdue without paid:
In RMB
Borrower Amount overdue Reasons
Other explanation:
40. Dividend payable
In RMB
Items Closing balance Opening balance
Other explanation, including dividend payable unpaid over one year, and explain the reasons:
41. Other payable
(1) Classification of other payable according to nature of account
In RMB
Items Closing balance Opening balance
Cash deposit 1,008,496.75 633,984.87
Employee cost 3,206,073.36 1,259,769.66
Other 3,498,748.07 4,281,598.23
96
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Total 7,713,318.18 6,175,352.76
(2) Significant other payable with over one year age
In RMB
Items Closing balance Reasons of un-paid or carry-over
Other explanation
42. Classified as liabilities held for sale
In RMB
Items Closing balance Opening balance
Other explanation:
43. Non-current liabilities due within one year
In RMB
Items Closing balance Opening balance
Deferred income due within one year 433,292.75 866,585.48
Total 433,292.75 866,585.48
Other explanation:
44. Other current liability
In RMB
Items Closing balance Opening balance
Changes of short-term payable bonds:
In RMB
Amortizat
Interest ion of
Face Issuing Bond Issue Opening Issued in accrual premium Paid in Closing
Bond
value date period amount balance the Period by face price and the Period balance
value conversio
n
Other explanation:
45. Long-term loans
(1) Classification of long-term loans
In RMB
Items Closing balance Opening balance
97
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Explanation on category of long-term loans:
Other explanation, including interest rate section:
46. Bonds payable
(1) Bonds payable
In RMB
Item Closing balance Opening balance
(2) Changes of bond payable (excluding other financial instrument of preferred stock and perpetual capital
securities that classified as financial liability)
In RMB
(3) Condition of convertible bonds and time of transferring
(4) Other financial instrument classified as financial liabilities
Outstanding preferred stock and perpetual capital securities at period-end
Changes of the outstanding preferred stock and perpetual capital securities at period-end
In RMB
Outstanding Period-begin Increase during the period Decrease during this period Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Explanations on basis of other financial instrument classified into financial liabilities
Other explanation
47. Long-term account payable
(1) Listed by nature
In RMB
Items Closing balance Opening balance
Other explanation:
48. Long-term employee payable
(1) Long-term employee payable
In RMB
Items Closing balance Opening balance
98
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
II. Dismiss welfare 312,742.86 312,742.86
III. Other long-term welfare 1,264,924.77 1,264,924.77
Total 1,577,667.63 1,577,667.63
(2) Change of defined benefit plan
Present value of the obligation of defined benefit plan:
In RMB
Items Current Period Last Period
Scheme assets:
In RMB
Items Current Period Last Period
Net liability(assets) of the defined benefit plan
In RMB
Items Current Period Last Period
Contents of defined benefit plan and the risks associate thereof, influences upon the Company’s future cash flow, timing and uncertainty:
The material actuary assumption and sensitive analysis relating to defined benefit plan is explained as follows:
Other explanation:
49. Special payable
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance Causes
period period
Other explanation:
50. Accrued liabilities
In RMB
Items Closing balance Opening balance Causes
Other explanation, including relevant important hypothesis and estimation:
51. Deferred income
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance Causes
period period
Government
Government grants 9,705,869.14 9,705,869.14
subsidies related to
99
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
assets
Total 9,705,869.14 9,705,869.14 --
Item with government subsidy concerned:
In RMB
Amount Amount
Subsidy reckoned into reckoned into Assets-
Cost
Opening increase non- non- Other Closing related/
Item reduction in
balance during this operation operation changes balance Income-
the period
period revenue in revenue in related
the Period the period
Construction Assets-
9,029,572.50 9,029,572.50
special fund related
Financial
Assets-
ship-building 676,296.64 676,296.64
related
discount
Total 9,705,869.14 9,705,869.14 --
Other explanation:
52. Other non-current liability
In RMB
Items Closing balance Opening balance
Other explanation:
53. Share capital
In RMB
Changes in the Period (+,-)
Opening Shares transfer Closing
Issuing new
balance Bonus shares from public Other Subtotal balance
shares
reserves
Total shares 266,071,320.00 266,071,320.00
Other explanation:
100
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
54. Other equity instrument
(1) Other financial instrument of outstanding preferred stock and perpetual capital securities at period-end
(2) Changes of financial instrument of outstanding preferred stock and perpetual capital securities at period-
end
In RMB
Outstanding Period-begin Increase during the period Decrease during this period Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Changes of other equity instrument, explanation on changes and basis of relevant accounting treatment:
Other explanation:
55. Capital surplus
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
Capital premium (equity
185,036,701.86 7,354,410.04 192,391,111.90
premium)
Other Capital surplus 94,961,504.96 94,961,504.96
Total 279,998,206.82 7,354,410.04 287,352,616.86
Other explanation, including changes and reasons of changes:
A premium resutled by additional investment to Haiyan Company from the Company and other shareholdres
56. Treasury stock
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
Other explanation, including changes and reasons for changes:
57. Other consolidated income
In RMB
Current Period
Account Less: written in Belong to Belong to
Opening Closing
Items before other Less : income parent minority
balance balance
income tax in comprehensive tax expense company after shareholders
the period income in tax after tax
101
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
previous period
and carried
forward to gains
and losses in
current period
(II) Other comprehensive income -
items which will be reclassified -6,075,014.12 -23,938.25 -14,135.54 -9,802.71 6,089,149
subsequently to profit or loss .66
-
Translation differences of foreign
-6,075,014.12 -14,135.54 -9,802.71 6,089,149
financial sheet
.66
-
Total of other consolidated income -6,075,014.12 -23,938.25 -14,135.54 -9,802.71 6,089,149
.66
Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial reorganization adjustment for
the arbitraged items:
58. Reasonable reserve
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
Other explanation, including changes and reasons for changes:
59. Surplus reserves
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
Statutory surplus
21,908,064.19 21,908,064.19
reserves
Total 21,908,064.19 21,908,064.19
Other explanation, including changes and reasons for changes:
60. Retained profit
In RMB
Items This period Last period
Retained profits at the end of last year before
141,867,217.06 50,349,731.78
adjustment
Retained profits at the beginning of the period 141,867,217.06 50,349,731.78
102
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
after adjustment
Add: net profit attributable to owners of parent
22,601,899.21 91,517,485.28
company
Retained profit at period-end 164,469,116.27 141,867,217.06
Details about adjusting the retained profits at the beginning of the period:
1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the retained
profits at the beginning of the period amounting to 0 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the period amounting to 0 Yuan.
3) The major accounting error correction affects the retained profits at the beginning of the period amounting to 0 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the period amounting to 0 Yuan.
5) Other adjustments affect the retained profits at the beginning of the period amounting to 0 Yuan
61. Operating income and cost
In RMB
Current Period Last Period
Items
Income Cost Income Cost
Main operating 437,116,744.01 373,729,371.53 435,825,365.50 377,649,192.30
Other operating 3,206,032.96 768,677.02 4,352,726.25 718,241.91
Total 440,322,776.97 374,498,048.55 440,178,091.75 378,367,434.21
62. Tax and surcharges
In RMB
Items Current Period Last Period
City maintenance and construction tax 139,594.98 305,392.09
Educational surtax 61,569.29 218,131.38
House property tax 607,009.39 740,050.43
Land use tax 218,430.35 315,805.99
Vehicle and vessel tax 27,829.36 27,664.36
Stamp tax 231,386.95 54,922.03
Local education surcharge 38,141.42 5.83
Local water conservancy construction fund 9,542.49 43,464.74
Total 1,333,504.23 1,705,436.85
Other explanation:
103
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
63. Sales expenses
In RMB
Items Current Period Last Period
Payroll payable 852,719.42 734,426.40
Port surcharge 2,928,162.72 355,592.64
Freight and miscellaneous charges 8,957,747.30 2,851,332.58
Agency fee 255,376.76 14,224.60
Travelling charge 153,803.20 11,898.35
Business publicity expenses 105,953.82 86,618.05
Other 1,589,461.18 27,210.86
Total 14,843,224.40 4,081,303.48
Other explanation:
64. Administrative expenses
In RMB
Items Current Period Last Period
Payroll payable 11,111,601.32 9,212,316.46
Depreciation 2,405,402.31 556,028.52
Travelling charge 1,309,331.01 1,054,696.16
Business entertainment expenses 556,056.12 555,868.54
Cost tax 2,735.00
Vehicles charge 265,734.24 125,250.73
Attorney charge 1,236,913.74 813,954.48
Office allowance 204,880.72 212,314.01
Property water and electricity 476,256.21 153,112.13
Amortization of intangible assets 276,317.60 195,735.06
Other 5,200,391.39 3,314,423.72
Total 23,045,619.66 16,193,699.81
Other explanation:
65. Financial expenses
In RMB
Items Current Period Last Period
Interest costs 3,082,690.15 2,891,553.08
104
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Less: interest income 174,711.83 352,460.61
Exchange loss 15,660,397.91 4,141,704.98
Less: exchange gains 15,348,305.26 562,848.61
Handing expense 403,277.17 330,949.94
Other expense 66,640.42 68,814.21
Total 3,689,988.56 6,517,713.00
Other explanation:
66. Losses on assets impairment
In RMB
Item Current Period Last Period
I. Bad debt losses -153,441.46 10,500.00
II. Provision for falling price of inventory 2,053.90
Total -151,387.56 10,500.00
Other explanation:
67. Gains from changes of fair value
In RMB
Source of gains from changes of fair value Current Period Last Period
Other explanation:
68. Gains on investment
In RMB
Item Current Period Last Period
Other explanation:
69. Income from assets disposal
In RMB
Item Current Period Last Period
Income from assets disposal -18,990.79 262,776.33
Total -18,990.79 262,776.33
70. Other income
In RMB
105
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Sources Current Period Last Period
Financial ship-building discount 14,188.00
Government grants 419,104.74
Total 433,292.74
71. Non-operating expenditure
In RMB
Amount reckoned in current
Items Current Period Last Period
non-recurring gains/losses
Government subsidy 433,292.74
Indemnity from insurance
205,791.69
company
Other 9,117.16
Total 0.00 648,201.59
Government subsidy reckoned into current gains/losses:
In RMB
Subsidy
impact The special Assets-
Issuing Offering Amount in Amount in
Item Nature current subsidy related/incom
subject causes the Period last period
gains/losses (Y/N) e-related
(Y/N)
Financial
Assets-
ship-building Subsidy Y N 14,188.00
related
discount
Special
Assets-
construction Subsidy Y N 419,104.74
related
fund
Total -- -- -- -- -- 433,292.74 --
Other explanation:
72. Non-operating expenses
In RMB
Amount included in current
Item Current Period Last Period
non-recurring profits or losses
Loss of non-current assets
3,772.45 399.90 3,772.45
scrape
Additional overdue find of state 4,282.38
106
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
taxes
Other expense 423,335.93 295,719.88 423,335.93
Total 427,108.38 300,402.16 427,108.38
Other explanation:
73. Income tax expenses
(1) Statement of income tax expense
In RMB
Items Current Period Last Period
Current income tax expense 1,922,681.98 453,724.36
Total 1,922,681.98 453,724.36
(2) Adjustment on accounting profit and income tax expenses
In RMB
Items Current Period
Total profit 23,050,972.70
Income tax based on statutory/applicable rate 1,922,681.98
Income tax expense 1,922,681.98
Other explanation
74. Other comprehensive income
See Note 57.
75. Items of statement of cash flow
(1) Other cash received in relation to operation activities
In RMB
Items Current Period Last Period
Intercourse funds and others 87,228,597.67 43,104,120.67
Total 87,228,597.67 43,104,120.67
Explanation on other cash received in relation to operation activities:
(2) Other cash paid in relation to operation activities
In RMB
107
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Items Current Period Last Period
Expenses of management cash paid 3,704,943.53 4,119,883.15
Sales expenses paid in cash 8,960,979.71 1,234,748.50
Intercourse funds and others 114,772,392.52 49,044,939.72
Total 127,438,315.76 54,399,571.37
Explanation on other cash paid in relation to operation activities:
(3) Cash received from other investment activities
In RMB
Items Current Period Last Period
Explanation on cash received from other investment activities
(4) Cash paid related with investment activities
In RMB
Items Current Period Last Period
Explanation on Cash paid related with investment activities:
(5) Other cash received in relation to financing activities
In RMB
Items Current Period Last Period
Explanation on other cash received in relation to financing activities:
(6) Cash paid related with financing activities
In RMB
Items Current Period Last Period
Explanation on cash paid related with financing activities:
76. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Supplementary information This Period Last Period
1. Net profit adjusted to cash flow of
-- --
operation activities:
Net profit 21,128,290.72 33,458,855.80
108
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Add: Assets impairment provision -151,602.06 -1,943,630.88
Depreciation of fixed assets, consumption of
oil assets and depreciation of productive 18,855,673.47 15,751,219.98
biology assets
Amortization of intangible assets 276,768.86 195,735.06
Amortization of long-term retained expense 106,796.10
Loss from disposal of fixed assets, intangible
assets and other long-term assets(gain is 18,990.79 -247,813.32
listed with “-”)
Financial expenses (gain is listed with “-”) 3,689,988.56 2,891,561.26
Decrease of deferred income tax assets
-1,700,000.00
(increase is listed with “-”)
Decrease of inventory (increase is listed with
-60,067,293.20 -55,276,389.67
“-”)
Decrease of operating receivable accounts
8,879,176.83 -1,486,025.93
(increase is listed with “-”)
Increase of operating payable accounts
30,777,822.24 24,532,644.24
(decrease is listed with “-”)
Net cash flow arising from operating
21,814,612.31 17,876,156.54
activities
2. Material investment and financing not
-- --
involved in cash flow
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 150,574,179.21 102,884,493.47
Less: Balance of cash equivalent at year-
147,067,351.82 129,521,203.29
begin
Net increasing of cash and cash equivalents 3,506,827.39 -26,636,709.82
(2) Net cash paid for obtaining subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
109
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(3) Net cash received by disposing subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
(4) Constitution of cash and cash equivalent:
In RMB
Item Closing balance Opening balance
Ⅰ. Cash 150,574,179.21 147,067,351.82
Including: Cash on hand 2,763,209.95 1,252,378.69
Bank deposit available for payment
146,411,982.48 145,374,973.13
at any time
Other monetary fund available for
1,398,986.78 440,000.00
payment at any time
Ⅲ. Balance of cash and cash equivalent at
150,574,179.21 147,067,351.82
period-end
Other explanation:
77. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period:
78. Assets with ownership or use right restricted
In RMB
Item Ending book value Restriction reasons
Other monetary fund, L/C Guarantee
Monetary fund 1,178,986.78
deposits
Fixed assets 69,106,984.16 Real estate, mortgage bank
Intangible assets 12,764,639.81 Lands, mortgage bank
Total 83,050,610.75 --
Other explanation:
110
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
79. Item of foreign currency
(1) Item of foreign currency
In RMB
Closing balance of foreign
Items Rate of conversion Ending RMB balance converted
currency
Monetary funds -- --
Including: USD 10,237,220.64 67,735,594.09
6.6166
EUR 30,637.79 234,425.05
7.6515
HKD
JPY 10,419,926.00 624,299.45
0.059914
XOF 135,000.00 1,761.48
0.013048
CEDI 8,080,363.33 11,828,843.88
1.4639
Accounts receivable -- --
Including: USD 3,636,860.28 24,063,649.73
6.6166
EUR
HKD
JPY 158,587,384.00 9,501,604.52
0.059914
Long term borrowing -- --
Including: USD
EUR
HKD
JPY
Other explanation:
(2) Explanation on foreign operational entity, including as for the major foreign operational entity,
disclosed main operation place, book-keeping currency and basis for selection; if the book-keeping currency
changed, explain reasons
√Applicable □ Not applicable
Major foreign operation entity Foreign main operation Book-keping Basis
111
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
place currency
HABITAT INTERNATIONAL CORPORATION The economic environment
Panama CNY
in the operation sites
LAIF FISHERIES COMPANY LIMITED The economic environment
Garner USD
in the operation sites
YAW ADDO FISHERIES COMPANY LIMITED The economic environment
Garner USD
in the operation sites
ZHONG GHA FOODS COMPANY LIMITED The economic environment
Garner USD
in the operation sites
AFRICA STAR FISHERIES LIMITED The economic environment
Garner USD
in the operation sites
80. Hedging
Disclosed hedging items and relevant hedging instrument based on hedging’s category, disclosed qualitative and quantitative
information for the arbitrage risks:
81. Other
VIII. Changes of consolidation scope
1. Enterprise consolidation not under the same control
(1) Enterprise consolidation not under the same control
In RMB
Income of Net profit of
Standard to
Time point Cost of Ratio of Acquired acquiree from acquiree from
Purchasing determine the
Acquiree for equity equity equity way Equity purchasing purchasing
date purchasing
obtained obtained obtained obtained way date to date to
date
period-end period-end
Other explanation:
(2) Combination cost and goodwill
In RMB
Combination cost
Determination method for fair value of the combination cost and contingent consideration and changes:
Main reasons for large goodwill resulted:
Other explanation:
112
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(3) Identifiable assets and liability on purchasing date under the acquiree
In RMB
Fair value on purchasing date Book value on purchasing date
Determination method for fair value of the identifiable assets and liabilities:
Contingent liability of the acquiree bear during combination:
Other explanation:
(4) Gains or losses arising from re-measured by fair value for the equity held before purchasing date
Whether it is a business combination realized by two or more transactions of exchange and a transaction of obtained control rights in
the Period or not
□Y √N
(5) On purchasing date or period-end of the combination, combination consideration or fair value of
identifiable assets and liability for the acquiree are un-able to confirm rationally
(6) Other explanation
2. Enterprise combined under the same control
(1) Enterprise combined under the same control in the Period
In RMB
Income of the Net profit of
combined the combined
Income of the Net profit of
party from party from
Basis of Standard to combined the combined
Equity ratio period-begin period-begin
combined Combination determine the party during party during
Acquiree obtained in of of
under the date combination the the
combination combination combination
same control date comparison comparison
to the to the
period period
combination combination
date date
Other explanation:
(2) Combination cost
In RMB
Combination cost
Explanation on contingent consideration and its changes:
Other explanation:
113
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(3) Assets and liability of the combined party on combination date
In RMB
Combination date Ending period of last year
Contingent liability of the combined party bear during combination
Other explanation:
3. Counter purchase
Basic information of transactions, basis of transactions constituting counter purchase, whether assets and liabilities reserved by listed
companies constituting business and their basis, confirmation of combined cost, the amount occurred when adjusting rights and interests
in accordance with equity transaction and its calculation:
4. Disposal of subsidiaries
Losing controlling rights while dispose subsidiary on one-time
□Yes √No
Dispose subsidiary step by step through multi-dealings and losing controlling rights in the Period
□Yes √No
5. Changes of combination scope
Other reasons contributed the changes for combination scope (e.g. new subsidiary established, liquidate subsidiary etc.):
6. Other
IX. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main operation Share-holding ratio
Subsidiary Registered place Business nature Acquired way
place Directly Indirectly
Shandong
Zhonglu Fishery Qingdao Qingdao Refrigerated
100.00% Investment
Shipping Co., Shandong Shandong transport
Ltd.
Shandong
Yantai Shandong Yantai Shandong Food processing 100.00% Investment
Zhonglu Oceanic
114
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(Yantai) Food
Co., Ltd.
Shandong
Zhonglu Haiyan Qingdao Qingdao
Pelagic fishing 59.05% Investment
Oceanic Fishery Shandong Shandong
Co., Ltd.
HABITAT
INTERNATION Refrigerated
Panama Panama 100.00% Investment
AL transport
CORPORATION
YAW ADDO
FISHERIES
Garner Garner Pelagic fishing Operating lease
COMPANY
LIMITED
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
Basis for controlling the invested entity with half or below voting rights held and without controlling invested entity but with over
half and over voting rights:
Controlling basis for the structuring entity included in consolidated range:
Basis on determining to be an agent or consignor:
Other explanation:
(2) Important non-wholly-owned subsidiary
In RMB
Dividend announced to
Share-holding ratio of Gains/losses attributable Ending equity of
Subsidiary distribute for minority in
minority to minority in the Period minority
the Period
Shandong Zhonglu
Haiyan Oceanic Fishery 40.95% -1,473,608.49 126,326,229.75
Co., Ltd.
Explanation on share-holding ratio of minority different from ratio of voting right:
Other explanation:
(3) Main finance of the important non-wholly-owned subsidiary
In RMB
Closing balance Opening balance
Subsidia Non- Non- Non- Non-
Current Total Current Total Current Total Current Total
ry current current current current
assets assets liability liability assets assets liability liability
assets liability assets liability
Shandon 177,301, 221,758, 399,060, 85,570,8 676,296. 86,247,1 137,172, 226,220, 363,393, 174,281, 676,296. 174,957,
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
g 266.90 913.03 179.93 98.63 64 95.27 698.60 585.87 284.47 509.38 64 806.02
Zhonglu
Haiyan
Oceanic
Fishery
Co., Ltd.
In RMB
Current Period Last Period
Cash flow Cash flow
Total Total
Subsidiary Operation from Operation from
Net profit comprehensi Net profit comprehensi
Income operation Income operation
ve income ve income
activity activity
Shandong
Zhonglu
Haiyan 73,754,521.8 46,126,136.8 34,584,084.0
-3,598,555.54 -3,622,493.79 -2,244,328.09 7,776,226.98 7,850,678.66
Oceanic 2 7 5
Fishery Co.,
Ltd.
Other explanation:
(4) Use of the corporate funds and major limitation of debt liquidation of the group
(5) Financial supporting or other supports offer to the structured body, which included in consolidation
statement scope
Other explanation:
2. Transaction that has owners equity shares changed in subsidiary but still with controlling rights
(1) Owners equity shares changed in subsidiary
(2) Impact on minority’s interest and owners’ equity attributable to parent company
In RMB
Other explanation
3. Equity in joint venture and cooperative enterprise
(1) Important joint venture and cooperative enterprise
Name Main operation Registered place Business nature Share-holding ratio Accounting
116
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
place treatment on
investment for
Directly Indirectly joint venture and
cooperative
enterprise
Share-holding ratio or shares enjoyed different from voting right ratio:
Basis of the voting rights with 20% below but with major influence, or without major influence but with over 20% (20% included)
voting rights hold:
(2) Main financial information of the important joint venture
In RMB
Closing balance /Current Period Opening balance /Last Period
Other explanation
(3) Main financial information of the important cooperative enterprise
In RMB
Closing balance /Current Period Opening balance /Last Period
Other explanation
(4) Summary of the financial information for those minor joint venture and affiliates
In RMB
Closing balance /Current Period Opening balance /Last Period
Joint venture: -- --
Total of the items counted by share-holding
-- --
ratio
Cooperative enterprise: -- --
Total of the items counted by share-holding
-- --
ratio
Other explanation
(5) Major limitation of the capital transfer to the Company from joint venture or affiliates
(6) Excess deficit arising from joint venture or affiliates
In RMB
117
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Loss un-confirmed in the Period
Accumulative loss un- Accumulative loss confirmed at
Joint venture or affiliates (or net profit shared in the
confirmed previous period-end
Period)
Other explanation
(7) Un-confirmed commitment with joint venture investment concerned
(8) Contingency with investment of joint venture investment concerned
4. Major co-management
Share-holding ratio /shares enjoyed
Name Main operation place Registered place Business nature
Directly Indirectly
Explanation on difference of the voting rights over share-holding or share enjoyed in co-management:
As for the independent entity, basis of co-management classification:
Other explanation
5. Equity in structured entities not included in the consolidated financial statements
Note of structured entities not included in the consolidated financial statements:
6. Other
X. Risks related to financial instruments
The financial assets of the Company include accounts receivable and other receivables. The financial liabilities of the Company include
accounts payable, other payables and short-term loans. For details of each financial instrument, please refer to the relevant items in
Note 5. The Company is faced with the risks of various financial instruments in its daily activities, mainly including credit risk, liquidity
risk and market risk. The board of directors is responsible for establishing and supervising the risk management structure of the
Company and developing and monitoring the Company's risk management policies.
Risk management objectives and policies: the Company's goal of risk management is to strike a proper balance between risks and
profits, minimize the negative impacts of the risks on the Company's operating results and maximize the benefits of shareholders and
other equity investors.
1. Credit risk
If the customer or the other party involving in the financial instruments cannot fulfill the obligations under the contract and cause
financial losses to the Company, that is credit risk. Credit risk is mainly from the customer receivables. The book value of account
receivables and notes receivable and other receivables is the maximum credit risk of the Company for financial assets.
2. Liquidity risk
Liquidity risk is the risk of the shortage of funds when the Company is fulfilling its obligations related to financial liabilities. In the
case of normal and tense funds, the Company needs to ensure that there is sufficient liquidity to meet its due debts and negotiate with
financial institutions for financing so as to maintain a certain level of reserve credit line to reduce the liquidity risk.
3. Market risk
(1) Foreign exchange risk
Foreign exchange risk refers to the risk that the fair value of financial instruments or the future cash flows fluctuate due to changes in
118
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
foreign exchange rates. The foreign exchange risk faced by the Company mainly comes from the financial assets valued in US dollars,
and the amount of foreign currency financial assets converted into RMB is listed as described in VII. 79 foreign currency monetary
items.
(2) Interest rate risk
Interest rate risk refers to the risk that the fair value of financial instruments or future cash flows fluctuate due to changes in market
interest rates. The interest rate risk faced by the Company mainly comes from the long-term bank loans, the Company’s loans are
floating interest rate, and there is risk of RMB benchmark interest rate change.
XI. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured by fair value
In RMB
Ending fair value
Item
First-order Second-order Third-order Total
I. Sustaining measured by
-- -- -- --
fair value
II. Non-persistent measure -- -- -- --
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
2. Basis for determining the market price of the sustained and non-sustained first-level fair value
measurement projects
3. The qualitative and quantitative information of the valuation techniques and important parameters
adopted for the sustained and non-sustained second-level fair value measurement projects
4. The qualitative and quantitative information of the valuation techniques and important parameters
adopted for the sustained and non-sustained third-level fair value measurement projects
5. The adjustment information about book value between the beginning and the end of the period and the
unobservable parameter sensitivity analysis of the sustained third-level fair value measurement projects
6. The sustained third-level fair value measurement projects that conversion has occurred among various
levels in the current period, the reasons for change and the policy determining the conversion point
7. Valuation techniques change occurred during the current period and the reasons for change
8. The fair value situations of the financial assets and financial liabilities not measured by the fair value
9. Other
XII. Related party and related transactions
1. Parent company of the enterprise
Share-holding ratio
Voting right ratio on
Parent company Registration place Business nature Registered capital on the enterprise for
the enterprise
parent company
Investment and
Shandong State- management,
owned Assets management and
Jinan Shandong RMB 4,500,000,000 33.07% 33.07%
Investment Holding operation of assets,
Company Limited managed operations,
investment advisory
Explanation on parent company of the enterprise
Ultimate controller of the Company is Shandong State-owned Assets Investment Holdings Co., Ltd.
Other explanation:
2. Subsidiary of the Enterprise
Found more in Note IX.” Equity in subsidiary”
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
3. Cooperative enterprise and joint venture
Found more in Note.
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in previous
period
Name Relationship
Other explanation
4. Other related party
Other related party Relationship with the Enterprise
Shandong Luxin Investment Holding Company Limited Shareholders with over 5% shares held
Other explanation
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Whether over the
Amount of this Trading limit
Related party Content approved limited or Amount of last period
period approved
not
Goods sold/labor service providing
In RMB
Related party Content Amount of this period Amount of last period
Explanation on goods purchasing, labor service providing and receiving
In RMB
(2) Related trusteeship management/contracts and entrusted management/outsourcing
Statement of trusteeship management/contract:
In RMB
Managed
Managed
earnings
Client/Contract- Entrusting Trustee/assts earnings /pricing
Trustee /start Trustee /ends confirmed in the
out party party/Contractor contract of the contract
period / contract
earnings
earnings
Related managed/contract:
Entrusted management/outsourcing:
In RMB
121
山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Entrusted
Trustee fee / earnings
Client/Contract- Entrusting Entrust /assets
Entrust /start Entrust /ends pricing of the confirmed in the
out party party/Contractor outsourcing
outsourcing period /
outsourcing costs
Related management/ outsourcing:
(3) Related lease
As a lessor for the Company:
In RMB
Lease income in recognized in Lease income in recognized last
Lessee Assets type
the Period the Period
As a lessee for the Company:
In RMB
Lease income in recognized in Lease income in recognized last
Lessor Assets type
the Period the Period
Explanation on related lease
(4) Related guarantee
As the guarantor
In RMB
Secured party Amount guarantee Start End Completed or not (Y/N)
As the secured party
In RMB
Guarantor Amount guarantee Start End Completed or not (Y/N)
Shandong State-owned
Assets Investment
100,000,000.00 2017-04-28 2018-02-28 Y
Holding Company
Limited
Explanation on related guarantee
(5) Related party’s fund loan
In RMB
Related party Fund loan Start End Note
Borrowing
Lending
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
(6) Related party’s assets transfer and debt reorganization
In RMB
Related party Content Current Period Last Period
(7) Remuneration of key manager
In RMB
Items Current Period Last Period
Total remuneration 1,078,527.06
(8) Other related transactions
6. Receivable/payable items of related parties
(1) Receivable item
In RMB
Closing balance Opening balance
Item Related party
Book balance Bad debt reserves Book balance Bad debt reserves
(2) Payable item
In RMB
Item Related party Ending book balance Opening book balance
7. Commitments of related party
8. Other
XIII. Share-based payment
1. Share-based payment
□ Applicable √ Not applicable
2. Share-based payment settled by equity
□ Applicable √ Not applicable
3. Share-based payment settled by cash
□ Applicable √ Not applicable
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
4. Amendment and termination of the share-based payment
5. Other
XIV. Commitment or contingency
1. Important commitment
Important commitment on balance sheet date
Nil
2. Contingency
(1) Contingency on balance sheet date
Nil
(2) If the Company has no contingency need to disclosed, explain reasons
The Company has no important contingency that need to disclosed
3. Other
XV. Event occurring after balance sheet date
1. Important non-adjusting events
In RMB
Impact on financial status and Reasons of unable to estimated
Item Content
operation results the impact
2. Profit distribution
In RMB
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3. Sales return
4. Other explanation on events after balance sheet date
XVI. Other important event
1. Error correction for previous period
(1) Retrospective restatement
In RMB
Item with impact in statement
Correction content Treatment procedure Cumulative impact
in every comparative period
(2) Prospective application
Correction content Approval procedure Cause of prospective application adoption
2. Debt reorganization
3. Assets replacement
(1) Exchange of non-monetary assets
(2) Other assets replacement
4. Pension plan
5. Discontinuing operation
In RMB
Profit of
discontinuing
Income tax operation
Item Revenue Expenses Total profit Net profit
expenses attributable to
owners of parent
company
Other explanation
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6. Segment information
(1) Determination basis and accounting policy for segment
(2) Financial information of the segment
In RMB
Item Offset between segment Total
(3) If the Company has no segment reporting, or unable to disclosed the total assets and liabilities of the
segment, explain reasons
(4) Other explanation
7. Other important transactions and events shows impact on investor decision-making
8. Other
XVII. Principle notes of financial statements of parent company
1. Accounts receivable
(1) Category of account receivable
In RMB
Closing balance Opening balance
Book balance Bad debt reserves Book balance Bad debt reserves
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Account receivable
with bad debt 19,618,0 5,937,50 13,680,54 14,421, 5,937,507 8,484,060.2
100.00% 30.27% 100.00% 41.17%
provision accrual by 51.48 7.66 3.82 567.93 .66 7
portfolio
19,618,0 5,937,50 13,680,54 14,421, 5,937,507 8,484,060.2
Total 100.00% 30.27% 100.00% 41.17%
51.48 7.66 3.82 567.93 .66 7
Account receivable with major single amount and withdrawal bad debt provision single at period-end:
□ Applicable √ Not applicable
Account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
A/C age Closing balance
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山东省中鲁远洋渔业股份有限公司 2018 年半年度报告全文
Account receivable Bad debt reserves Accrual ratio
Sub-item of within one year
Within 6 months 13,922,433.47 248,275.15 5.00%
6-12 months 6,600.00 214.50 10.00%
Subtotal of within one year 13,929,033.47 248,489.65
Over three years 5,689,018.01 5,689,018.01 100.00%
Total 19,618,051.48 5,937,507.66
Explanation on portfolio basis:
In combination, withdrawal proportion of bad debt provision based on balance proportion for account receivable:
□ Applicable √ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for account receivable:
(2)Bad debt provision accrual, switch-back or taken back in reporting period
Amount RMB 0 accrual in the Period; amount 0 Yuan switch-back or taken back in the Period 。
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch back or taken back Way
(3) Account receivables actually written-off during the reporting period
In RMB
Items Amount verified
Including major account receivables written-off:
In RMB
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on account receivable written-off :
(4)Top five receivables collected by arrears party at ending balance
In RMB
Company Ending balance Ratio in total receivable Balance of bad debt provision
Shandong Zhonglu Oceanic (Yantai) Food Co., 7,239,765.00 36.90%
Ltd.
TAI UNION ENTERPRISE CO.,LTD 6,682,668.47 34.06% 248,275.15
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PACIFIC PANDA,INC 3,600,962.12 18.36% 3,600,962.12
Qingdao Haifeng Gorup Limited 430,625.10 2.20% 430,625.10
Han Xue 293,209.20 1.49% 293,209.20
Total 18,247,229.89 93.01% 4,573,071.57
(5) Account receivables derecognized due to financial assets transfer
(6) Transfer the account receivable and assets & liabilities arising from further involvement
Other explanation:
2. Other accounts receivable
(1) Category of other account receivable
In RMB
Closing balance Opening balance
Book balance Bad debt reserves Book balance Bad debt reserves
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Other account
receivable with bad 75,824,8 3,673,65 72,151,23 68,363, 3,673,656 64,689,774.
100.00% 4.84% 100.00% 5.37%
debt provision 90.78 6.91 3.87 431.90 .91 99
accrual by portfolio
75,824,8 3,673,65 72,151,23 68,363, 3,673,656 64,689,774.
Total 100.00% 4.84% 100.00% 5.37%
90.78 6.91 3.87 431.90 .91 99
Other account receivable with major single amount and withdrawal bad debt provision single at period-end:
□ Applicable √ Not applicable
Other account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
Closing balance
A/C age
Other receivable Bad debt reserves Accrual ratio
Sub-item of within one year
Within 6 months 19,046,085.57 139,823.36 5.00%
6-12 months 71,766.00 15.00 10.00%
Subtotal of within one year 19,117,851.57 139,838.36
1-2 years 21,124,765.99 259,746.18 30.00%
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Over three years 35,582,273.22 3,274,072.37 100.00%
Total 75,824,890.78 3,673,656.91
Explanation on portfolio basis:
In combination, withdrawal proportion of bad debt provision based on balance proportion for other account receivable
□ Applicable √ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for other account receivable
□Applicable √ Not applicable
(2) Bad debt provision accrual, switch-back or taken back in reporting period
Amount RMB 0 accrual in the Period; amount 0 Yuan switch-back or taken back in the Period
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch-back or taken back Way
(3) Other receivables actually written-off during the reporting period
In RMB
Items Amount verified
Including major other account receivables written-off
In RMB
Occurred due to
Nature of other
Company Amount verified Reasons Verified procedures related transaction
receivables
(Y/N)
Explanation on write-off of other receivables:
(4) Other receivables by nature
In RMB
Nature Ending book balance Opening book balance
Intercourse funds in the Company 75,434,742.96 63,318,089.06
Reserve fund and others 390,147.82 5,045,342.84
Total 75,824,890.78 68,363,431.90
(5) Top 5 other receivables collected by arrears party at ending balance
In RMB
Proportion in total
Ending balance of
Company Nature Ending balance Account age other receivables at
bad debt provision
year-end
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LAIF Company in Within 1 year, 1-2
Intercourse funds 21,613,238.86 28.50%
Ghana years, 2-3 years
Shandong Zhonglu
Haiyan Oceanic Intercourse funds 20,720,825.26 Over 3 years 27.33%
Fishery Co., Ltd.
YAW ADDO
Intercourse funds 11,446,927.59 Over 3 years 15.10%
Company
ZHONG GHA FOOD
Intercourse funds 8,069,246.53 Within 1 year 10.64%
COMPAY LIMITED
AFRICA STAR
FISHERIS Intercourse funds 7,215,697.10 Within 1 year 9.52%
LIMITED
Total -- 69,065,935.34 -- 91.09%
(6) Account receivable involved government subsidies
In RMB
Time, amount and basis
Company Name Ending balance Ending account age
estimated to received
(7) Other account receivables derecognized due to financial assets transfer
(8) Transfer the other account receivable and assets & liabilities arising from further involvement
Other explanation:
3. Long-term equity investment
In RMB
Closing balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for
232,189,455.23 232,189,455.23 204,189,455.23 204,189,455.23
subsidiary
Total 232,189,455.23 232,189,455.23 204,189,455.23 204,189,455.23
(1) Investment for subsidiary
In RMB
Increase during Decrease during Impairment Ending balance of
The invested entity Opening balance Closing balance
the period this period accrual impairment
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provision
HABITAT
INTERNATIONA 12,476,145.60 12,476,145.60
L CORP.
Shandong Zhonglu
Fishery Shipping 22,869,513.38 22,869,513.38
Co., Ltd.
Shandong Zhonglu
Oceanic (Yantai) 55,448,185.24 55,448,185.24
Food Co., Ltd.
Shandong Zhonglu
Haiyan Oceanic 113,395,611.01 28,000,000.00 141,395,611.01
Fishery Co., Ltd.
Total 204,189,455.23 28,000,000.00 232,189,455.23
(2) Investment for associates and joint venture
In RMB
+,-
Ending
Other Cash
Investme balance
Additiona comprehe dividend
Opening nt gains Other Closing of
Company l Capital nsive or profit Impairme
balance recognize equity Other balance impairme
investmen reduction income announce nt accrual
d under change nt
t adjustmen d to
equity provision
t issued
I. Joint venture
II. Associated enterprise
(3) Other explanation
4. Operating income and cost
In RMB
Current Period Last Period
Items
Income Cost Income Cost
Main business 77,834,059.12 60,182,495.95 57,174,319.09 43,119,825.36
Other business 2,054,655.24 768,677.02 2,364,952.79 718,241.91
Total 79,888,714.36 60,951,172.97 59,539,271.88 43,838,067.27
Other explanation:
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5. Investment gains
In RMB
Items Current Period Last Period
6. Other
XVIII. Supplementary Information
1. Current non-recurring gains/losses
√ Applicable □ Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-
-18,990.79
current asset
Governmental subsidy reckoned into current
gains/losses (not including the subsidy
enjoyed in quota or ration according to 433,292.74
national standards, which are closely relevant
to enterprise’s business)
Other non-operating income and expenditure
-427,108.38
except for the aforementioned items
Total -12,806.43 --
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
2. REO and earnings per share
Earnings per share
Profits during report period Weighted average ROE
Basic EPS (RMB/Share) Diluted EPS (RMB/Share)
Net profits belong to common stock
3.14% 0.08 0.08
stockholders of the Company
Net profits belong to common stock
stockholders of the Company after
3.15% 0.08 0.08
deducting nonrecurring gains and
losses
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3. 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
(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
(3) Explain accounting difference over the accounting rules in and out of China; as for the difference
adjustment for data audited by foreign auditing organ, noted the name of such foreign organ
4. Other
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Section XI. Documents available for reference
(I) The financial statement of the Company with signature and seal from the person in charge of the Company,
person in charge of the accounting works and person in charge of accounting;
(II) Original text of all documents of the Company as well as manuscript of the announcement that disclosed on
website appointed by CSRC.
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
President: Lu Lianxing
30 August 2018
134
