山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
Semi-Annual Report for Year of 2019
August 2019
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山东省中鲁远洋渔业股份有限公司 2019 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, Fu Chuanhai, person in charge of
accounting works and Lei Lixin, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of 2019 Semi-
Annual Report is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
The forward-looking statement set out in the semi-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
and countermeasures” in the fourth section hereof headed “Discussion and
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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 2019 年半年度报告全文
Contents
Semi-annual Report 2019 .................................................................................................................. 1
Section I Important Notice and Paraphrase .................................................................................. 2
Section II Company Profile and Main Finnaical Indexes .............................................................. 6
Section III Summary of Company Business .................................................................................... 9
Section IV Discussion and Analysis of Business ............................................................................ 21
Section V Important Events ............................................................................................................ 21
Section VI Changes in shares and particular about shareholders……………………………...32
Section VII Preferred Stock ............................................................................................................ 38
Section VIII Particulars about Directors, Supervisors and Senior Executives .......................... 39
Section IX Corporate Bond ............................................................................................................. 40
Section X Financial Report ............................................................................................................. 40
Section XI Documents available for reference ............................................................................ 160
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山东省中鲁远洋渔业股份有限公司 2019 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
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 2019 compiled by the Company
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Section II Company Profile and Main Financial 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)(if applicable)
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 2018
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山东省中鲁远洋渔业股份有限公司 2019 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 2018.
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) 515,468,659.14 440,322,776.97 17.07%
Net profit attributable to shareholders of
28,420,094.20 22,601,899.21 25.74%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting non- 28,012,400.46 22,614,705.64 23.87%
recurring gains and losses(RMB)
Net cash flow arising from operating
-4,240,847.30 21,814,612.31 -119.44%
activities(RMB)
Basic earnings per share (RMB/Share) 0.11 0.08 37.50%
Diluted earnings per share (RMB/Share) 0.11 0.08 37.50%
Weighted average ROE 3.48% 3.14% 0.34%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end
Total assets (RMB) 1,280,299,204.68 1,213,282,583.68 5.52%
Net assets attributable to shareholder of
831,891,627.93 803,507,440.24 3.53%
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 2019 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 说明
Gains/losses from the disposal of non-current asset (including the
-1,399.00
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
-24,200.00
aforementioned items
Total 407,693.74 --
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 2019 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 pelagic fishing, ocean refrigerated transport,
and refrigeration, processing and trading of aquatic products, its main businesses involve all major aspects of the
industry chain.
(i) Business introduction
During the reporting period, the company’s main business didn’t make any change. Pelagic fishing has still been
the main line while refrigerated transport and refrigeration processing trade were the two wings, and they supported
each other and promoted each other, the industrial chain was relatively complete.
1. Pelagic fishing
During the reporting period, the company has owned a total of 22 vessels for ocean-going fishing, including 7 large-
scale tuna seiners (units), 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. ①In terms of long-lining fishing
operations, the main operation area was in the Indian Ocean. By scientifically scheduling, actively carrying out the
international fishery cooperation and timely making transition, in the first half of the year, fishing situation was
good and various vessels are in a favorable condition of production, the output and benefit increased as a results.
②In terms of the purse seine fishing, the main operating area was in the Atlantic Ocean, according to the industrial
environment and development situation, in the past two years, the Company successfully established a fleet of seven
(units of) large-scale tuna seiners vessels in the Atlantic Ocean through the fishery adjustment and new equipment,
and it is the first time that China’s tuna purse seine fleet has entered the Atlantic fishery. Over more than two years
of exploration and practice, we preliminary mastered the characteristics and rules of the fishery and the expected
purpose has been achieved with good economic and social benefits achieved.③The output value of Ghana trawling
project increased on a y-o-y basis. The narrow and small fishery, reduction of trawl fish species resources and the
aging of ship conditions were the main reasons for the lower benefits.
2. Refrigerated transport
During the reporting period, the company’s seven international refrigerated transport vessels were engaged in
operational services, and many measures were taken to complete the annual economic indicators: ①Continuously
improved the company’s SMS system work and strengthened the standardized management of enterprises. ②Kept
a foothold on the Asia-Pacific special refrigerated freight market, strived to increase the market share, strictly
controlled the cost accounting, strengthened the ship equipment maintenance, ensured the sailing rate, and promoted
the rental income maximization. ③ Pay close attention to the trend of exchange rate, timely settlement of exchange
rate, minimize the risk of exchange rate.
3. Refrigeration processing trade
During the reporting period, in the face of Sino-US trade friction, Japan’s economic downturn, market contraction
and other adverse factors, seriously studied the situation, closely monitored the market changes, and innovated the
business ideas and management methods. ① Gave full play to the distribution center of China’s tuna trading center
and the deep processing and cold chain logistics base of deep-sea fishing products in Shandong Province, increased
the efforts of self-fishing backhaul purchase and deep processing, and formed a processing industrial chain centered
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
on Zhonglu food, which had far-reaching significance for making the refined and strong tuna industry chain. ②
Paid attention to improving the mechanization and automation level of processing, accelerated the conversion of
new and old kinetic energy, promoted the research and development of the “Five Fast” project, strive to achieve the
production and processing 4.0, and ensured the smooth operation of production and operation.③ Increased the
market development efforts, focused on cultivating new models of separating warehouse for tuna, and actively
expanded the international and domestic trade. ④Expanding the sales business, reducing inventory, and speeding
up the circulation of goods; reasonable allocation of the funds and collocation of financing structure in order to
improve the turnover and utilization rate for inventories and capitals.
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 Depreciation Decreased 13,051,500 Yuan, mainly due to the accrual depreciation
Intangible assets No major change
Construction in progress A new long-line fishing boat Tai Xiang 11 was established by Haiyan Subsidiary
2. Main overseas assets
√Applicable □Not applicable
Control Ratio of the Whether has
measures to overseas major
Operating Earnings
Content Causes Assets scale Location ensure the assets in net impairment
mode status
safety of assets of the risks or not
assets Company (Y/N)
HABITAT
INTERNATI Vessels and
Established 249,413,723. Independent
ONAL Panama crew 9,717,885.23 25.57% N
aboard 13 operation
CORPORATI insurance
ON
A
professional
ZHONG management
GHA team
Established Independent -
FOODS 188,973,284. Ghana overseas 19.37% N
aboard operation 2,939,940.62
COMPANY 19 posting,
LIMITED vessels and
crew
insurance
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
III. Core competitive-ness analysis
Whether the company needs to comply with the disclosure requirements of the particular 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: ①the company is a comprehensive fishery enterprise integrating pelagic 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; ②
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 30,000-ton ultra-low temperature variable cold
storage and supporting facilities of Zhonglu Refrigeration Logistics Center have pioneered many new technologies
and have been operated well. ③the 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; ④the tuna seine fleet in Atlantic was on the right track after two years of
exploration and practice. Under the shelter of tight regulations from WCPFC in WCPO and ICCAT, the tuna seine
business will have a stable growth. ⑤The Company’s pelagic fishing production area is in the Atlantic Ocean and
the Indian Ocean, our refrigerated transport has reached most of the world’s major ports, and the import and export
trade spread all over the world. With the implementation of the “One Belt and One Road” strategy, countries along
the road strengthen the bilateral mutual trust and have closer cooperation. With a series of development planning
issued by the country and governments at all levels, our company faces new development opportunities.
The Company will make good use of these strategic resources, creating innovative, keeping forge ahead and moving
forward, 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
competitive power 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 2019 年半年度报告全文
Section IV Discussion and Analysis on Operation
I. Introduction
During the reporting period, the company focused on economic benefits, took safety production as guarantees,
actively responded to changes in the environmental situation, consolidated the cornerstone, and deeply integrated,
continued to lead the company to high-quality development with high-quality party building, and the business
operation continued to improve. In view of the unfavorable situations including continued sluggish international
market for tuna, the continuous decline in catch prices and the high oil prices, all the employees of the company
worked together to continuously improve thinking and understanding, actively take countermeasures, improve the
enterprise operation and management level, and promote the enterprise to move towards the modern operation
management mode of diversified operation, high-end products and market globalization, such as comprehensive
ocean fishing, shipping and cold storage processing trade, etc., and the business operation has been steadily
improved and achieved good economic benefits.
(i)Business review during the reporting period
1. Pelagic fishing: The fishing operations of 5 groups of purse seine fishing vessels the company newly added in
the Ghana project was in good condition during the reporting period, and the fishing production reached the expected
target. For the tuna long-line fishing business, the fishing production was higher than expected due to scientific
decision-making, rational allocation of fishery, and reasonable arrangement of operation time and ship docking
repair time, the company tried every means to overcome the unfavorable factors of fish price decline, expand sales
model, increase cost management, and improve economic efficiency. During the reporting period, pelagic fishing
achieved a business revenue of 193,378,000 Yuan; total profit gains 21,750,400 Yuan with a 596.99% growth from
a year earlier.
2. Transportation lease: Refined production and operation management, strengthened ship safety at sea, improved
ship sailing rate, and ensured ship operation rate. Carefully dispatched ship operations, strengthened the
implementation of maritime and onshore responsibilities, refined the maintenance and repair of ships, and ensured
the safe sailing days of ships; paid close attention to enterprise management, strengthened internal control, and
obtained benefits from refined management. In order to expand the fleet size and enhance its comprehensive strength,
the company newly purchased a ocean-going vessel at a young age which has advanced equipment and high degree
of automation, the vessel will be delivered in the near future and will be put into operation in the second half of the
year. During the reporting period, transport lease achieved a business revenue of 48,088,600 Yuan; total profit gains
11,475,600 Yuan with a 15.25% down from a year earlier.
3. Refrigeration processing trade: The company enhanced the enterprise competitiveness through operation
innovation and technological innovation, extended refined management, actively promoted processing
mechanization and production automation, innovated production processes, improved the yield of finished products
and the production and processing efficiency, and cooperated with think tanks of colleges and universities to develop
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
new products, optimized product composition, opened up new markets, set up distribution centers in several major
cities across the country and radiated surrounding areas, thus expanded publicity channels and sales channels.
However, due to the continuous decline in the sales price in the international market and the increase in procurement
costs caused by the lowering of VAT rate and export tax rebate rate, the profitability in the reporting period had a
decline compared with the same period last year. During the reporting period, refrigeration processing trade
achieved a business revenue of 338,579,600 Yuan; total profit gains 7,531,800 Yuan with a 38.07% down from a
year earlier.
(ii) General operation
During the reporting period, the Company achieved business revenue of 515.4687 million Yuan, an increase of
17.07% over that of 440.3228 million Yuan at same period last year; total profit was 32.1725 million Yuan,
increased 39.57% over that of 23.051 million Yuan at same period last year; the net profit attributable to parent
company amounted as 28.4201 million Yuan, a 25.74% up over that of 5.8182 million Yuan at same period last
year. Total assets achieved 1280.2992 million Yuan with 5.52% up from that of year-beginning.
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 515,468,659.14 440,322,776.97 17.07%
Operation cost 437,867,047.13 374,498,048.55 16.92%
Sales expenses 11,996,385.92 14,843,224.40 -19.18%
Administrative expenses 29,199,215.47 23,045,619.66 26.70%
Financial expenses 3,152,666.58 3,689,988.56 -14.56%
The overdue corporate
Income tax expense 662,058.68 1,922,681.98 -65.57% income ax are paid at
same period of last year
The cash paid for
purchasing goods and
Net cash flow arising
-4,240,847.30 21,814,612.31 -119.44% accepting labor service
from operation activities
increased on a y-o-y
basis
Net cash flow arising -15,487,389.84 -2,800,663.63 452.99% Building the new long-
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
from investment line fishing boat, and
activities account paid in advance
for purchasing the
transportation vessels
Net cash flow arising More bank loans from
10,392,746.18 -15,933,350.40 -165.23%
from financing activities Yantai Food Company
Net cash flow arising
Net increase of cash and
-10,947,176.40 3,506,827.39 -412.17% from operation activities
cash equivalent
declined
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
Pelagic fishing 193,377,962.74 151,208,180.27 21.81% 100.24% 108.13% -2.96%
Vessel leasing 48,088,609.67 33,571,136.25 30.19% 7.08% 11.55% -2.80%
Cold storage
processing trade
338,579,646.58 319,330,064.86 5.69% 14.53% 17.84% -2.65%
of aquatic
products
Housing rental
2,695,646.92 1,030,872.52 61.76% -15.92% 34.11% -14.26%
and other
Internal
-67,273,206.77 -67,273,206.77
transaction offset
Total 515,468,659.14 437,867,047.13 15.05% 17.07% 16.92% 0.10%
According to products
Pelagic fishing
193,377,962.74 151,208,180.27 21.81% 100.24% 108.13% -2.96%
for tunas
Vessel leasing 48,088,609.67 33,571,136.25 30.19% 7.08% 11.55% -2.80%
Tuna refrigeration
338,579,646.58 319,330,064.86 5.69% 14.53% 17.84% -2.65%
processing trade
Housing rental 2,695,646.92 1,030,872.52 61.76% -15.92% 34.11% -14.26%
14
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
and other
Internal
-67,273,206.77 -67,273,206.77 0.00%
transaction offset
Total 515,468,659.14 437,867,047.13 15.05% 17.07% 16.92% 0.10%
According to region
Japan 77,806,939.54 73,383,309.66 5.69% -42.41% -42.22% -0.30%
Mainland China 179,931,136.41 146,094,627.77 18.81% 142.19% 202.20% -16.12%
South Korea 11,712,324.78 11,046,433.15 5.69% -47.44% -47.70% 0.47%
Singapore 8,181,801.88 7,716,634.33 5.69% 103.31% 101.83% 0.70%
Taiwan China 74,442,404.96 58,060,078.21 22.01% -6.38% -6.08% -0.24%
Ghana 72,480,473.01 60,126,081.27 17.05% 82.56% 72.65% 4.77%
Other 158,186,785.33 148,713,089.51 5.99% 85.24% 91.76% -3.19%
Internal
-67,273,206.77 -67,273,206.77
transaction offset
Total 515,468,659.14 437,867,047.13 15.05% 17.07% 16.92% 0.10%
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 3,302.88 0.01% There is no sustainability
Non-operating
24,200.00 0.08% There is no sustainability
expenses
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
172,505,897.1
Monetary fund 13.47% 151,753,165.99 13.75% -0.28%
7
Account
72,831,521.74 5.69% 44,730,567.95 4.05% 1.64%
receivable
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
More purse seine catch in the period,
408,714,619.5 and some of them are not for sale, the
Inventories 31.92% 303,811,883.27 27.52% 4.40%
1 refrigeration trade procurement
increased
Investment real
33,424,124.45 2.61% 31,079,447.01 2.82% -0.21%
estate
501,281,203.5
Fixed assets 39.15% 509,463,246.79 46.15% -7.00% Mainly due to the accrual depreciation
5
Construction in
17,528,453.31 1.37% 15,213.68 0.00% 1.37%
progress
Short-term loans 90,310,561.49 7.05% 63,607,615.40 5.76% 1.29%
2. Assets and liability measure by fair value
□Applicable √Not applicable
3. Assets right restriction till end of reporting period
Item Ending book value Causes of restriction
Monetary fund 685,948.08 Cash deposit for L/C
Fixed assets 67,038,146.78 Loan mortgage
Intangible assets 12,125,151.43 Loan mortgage
Total 79,849,246.29 --
V. Investment
1. Overall situation
√Applicable □Not applicable
Amount invested at same period last year
Amount invested in the period (RMB) Changes
(RMB)
12,678,961.94 0.00 -
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
16
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
In RMB
Reasons
Earning
Whether Amount of fails Disclos
s Disclos
it is a Amount actual Estimat to the ure
Investme Capital achieve ure date
Investme fixed input in invested Progres ed estimate index
Project nt resource d ended (if
nt way assets the up to s earning d (if
industry s as applica
investme period period- s earning applica
period- ble)
nt (Y/N) end s and ble)
end
plans
Surface Not
Sea 6,454,97 17,528,4 Owned 100.00 3,100,0
longliners-Tai Self built Y 0.00 applica
fishing 6.94 53.31 fund % 00.00
Xiang 11 ble
Refrigerated Ocean Not
Acquisiti 6,223,98 6,223,98 Owned 5,030,0
transport Y transport 0.00 applica
on 5.00 5.00 fund 00.00
vessel ation ble
12,678,9 23,752,4 8,130,0
Total -- -- -- -- -- 0.00 -- -- --
61.94 38.31 00.00
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
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
17
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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 Registered Operating Operating
Type Total assets Net assets Net profit
name business capital revenue profit
Shandong
Zhonglu Aquatic
Oceanic products 75,593,300.0 457,817,966. 215,018,959. 338,579,646. 7,531,752.
Subsidiary 7,098,752.11
(Yantai) processing 0 38 28 58 11
Foods Co., trade
Ltd.
Shandong
Zhonglu
Haiyan Pelagic 221,617,349. 480,870,429. 350,296,128. 101,916,145. 7,546,540.
Subsidiary 7,546,540.71
Deep-sea fishing 00 76 56 57 71
Fishery Co.,
Ltd
HABITAT
Transport
INTERNATI
lease of 12,476,146.0 249,413,723. 152,375,969. 31,526,366.2 9,717,885.
ONAL Subsidiary 9,717,885.23
refrigerated 0 13 64 1 23
CORPORAT
vessels
ION
Shandong
Transport
Zhonglu
lease of 22,505,600.0 39,375,118.0 11,736,063.1 16,562,243.4 1,757,679.
Fishery Subsidiary 1,528,621.30
refrigerated 0 2 3 6 98
Shipping Co.,
vessels
Ltd.
Particular about subsidiaries obtained or disposed in report period
□ 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 2019
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the warning
of its material change compared with the corresponding period of the last year and explanation on reason
□Applicable √Not applicable
18
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
X. Risks and countermeasures
1. Risk of periodic fluctuations in the fishery resources. The fishery resources are uncontrollable, and the resource
decline will directly affect the catch. At present, the long-line fishing operations in the first half of the year are
mainly in the Somali waters, and the yield is relatively stable and high from the situation of now. However, with
the arrival of the regular off-season, changes in oceanic climate, hydrometeorology and micro-organisms will also
cause fisheries to be uncontrollable.
Response measures: Strengthen scientific and technical supports for fishing production, and build new highlands
for fishery production through technological innovation. The company has deep exchanges with the Fisheries
College of Ocean University of China to seek and strengthen cooperation between schools and enterprises, and later,
the company will establish industry-university- research cooperation research platform jointly participated by the
government, enterprises and schools, which uses our operational history data, combines with on-site remote sensing
technology and other big data to guide production, strengthen the analysis and mastery of resources, provide us with
short, medium and long-term fishery and fishery forecasting work, after the platform is put into use, it will be truly
realizing the transformation of science and technology into productivity, and it will play a great role in boosting
production and laying a leading position for the company in the industry.
2. Risk of fluctuations in sales prices. The pricing power of tuna raw materials is still in the Japanese market. In
recent years, the Japanese market has been sluggish and consumption has fallen sharply, especially since December
last year, prices have also fallen all the way due to the increasing stock of tuna.
Response measures: In this case, we must grasp the market, the first is to continue to expand inventory sales; the
second is to properly purchase low-cost raw materials and dilute costs; the third is to keep the capital chain in normal
operation.
3. Human resources risk. The construction of the crew is difficult. The one-child policy has resulted in fewer family
members, and the younger generation is reluctant to work on the ship; the number of students graduating from
maritime colleges is also decreasing year by year, and the talent pool cannot meet the development requirements of
enterprises.
Response measures: In response to the dilemma of the gradual reduction of crew, firstly, the company is actively
recruiting foreign crew members to compensate for the shortage of crew members; the second is to take advantage
of the company's crew assignment qualifications, participate in the international crew market, and invigorate the
company's crew allocation management.
4. Market risk. The long-line fishing production faces the full sea loading space and the full port cold stores capacity,
resulting in a slow overall turnover of the catch, which seriously affects the logistics efficiency.
Response measures: Arrange the unloading in advance to ensure that the company's fish goods are timely and
effectively placed in the case of tight shipping space.
5. Risk of exchange rate fluctuations. Foreign exchange rate fluctuations are relatively large, especially the
fluctuations of the US dollar and the Japanese yen have greater impacts on the company. The fluctuation of the US
dollar exchange rate is mainly affected by Sino-US trade friction.
Response measures: The company will actively control changes in the international situation in the future, carefully
19
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
analyze and explore the trend of foreign exchange exchange rate changes, and review the situation to conduct
settlement and settlement of foreign exchange business so as to maximize the company's foreign exchange benefits.
6. Risk of security incidents. The first is the huge risk in operating an old ship, and the second is the risk of ammonia
refrigeration control.
Response measures: Our company has always been actively implementing the target ship and has now locked in the
appropriate target ship, gradually phased out the aging ships such as “Tai Ning” and “Tai Xing” to reduce safety
risks. Strengthen management and control, make strict inspection, and strive to meet the requirements of safe
production of ammonia-related enterprises, ensure the personal safety of employees and the continuous development
of refrigeration production, in order to completely eliminate the hidden danger, the company plans to invest 1.8
million yuan for fluorine refrigeration transformation.
20
山东省中鲁远洋渔业股份有限公司 2019 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 2019
General
Shareholders 48.09% 2019-01-22 2019-01-23 (Notice No.: 2019-
Shareholders
Meeting 05) released on
Meeting 2019
China Securities
Journal, Hong Kong
Commercial Daily
and Juchao Website
Resolution Notice of
Annual General
Meeting of 2018
(Notice No.: 2019-
Annual General
AGM 47.82% 2019-05-16 2019-05-17 20) released on
Meeting of 2018
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
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
21
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Type of Content of Commitment Commitment Implementatio
Commitments Promise
commitments commitments date term n
Commitments for
Share Merger Reform
1. The
Company does
not directly or
indirectly own
any shares or
equity in other
enterprises
that may cause
horizontal
competition
with Zhonglu
Oceanic
(hereinafter
collectively
referred to as
“competitive
enterprise”) or
Continuous
Shandong own any
and effective
State-owned interest in any
Inter-industry during the
Commitments in report of Assets competing In
Competition 2018-07-23 time with
acquisition or equity change Investment enterprise, and performance
Commitment controlling of
Holding Co., will not
the Zhonglu
Ltd directly or
Oceanic
indirectly
invest or
purchase the
competitive
enterprises; 2.
For any
business
opportunities
obtained by
the Company
and other
enterprises
controlled by
the Company
from any third
party that
constitute or
22
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
may constitute
substantial
competition
with the
business of
Zhonglu
Oceanic, the
Company will
immediately
notify
Zhonglu
Oceanic and
give these
business
opportunities
to Zhonglu
Oceanic so as
to avoid the
horizontal
competition or
potential
horizontal
competition
with Zhonglu
Oceanic; 3.
The Company
and other
companies
controlled by
the Company
will not
provide
business
secrets such as
technical
information,
technological
process, and
sales channels
for other
companies,
enterprises,
organizations
or individuals
23
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
that have
business
constituting
competition
with the
business of
Zhonglu
Oceanic. 4.
The Company
promises not
to damage the
interests of
Zhonglu
Oceanic and
other
shareholders
of Zhonglu
Oceanic by
utilizing the
position of
controlling
shareholder; 5.
The Company
is willing to
bear the direct
and indirect
economic
losses, liability
claims and
additional
expenses
caused by the
violation of
above
commitments
to Zhonglu
Oceanic.
1. The related Continuous
transactions and effective
Related between the during the
In
transaction Company and 2018-07-23 time with
performance
Commitment other controlling of
companies the Zhonglu
controlled by Oceanic
24
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
the Company
and Zhonglu
Oceanic are
strictly in
compliance
with the
relevant
provisions of
laws and
regulations,
and will be
conducted on
an equal and
voluntary
basis in
accordance
with the
principles of
fairness and
equivalence,
prices will be
determined at
a reasonable
price
recognized by
the market. 2.
The Company
and other
enterprises
controlled by
the Company
will strictly
abide by the
provisions on
the avoidance
of related
transactions in
the articles of
association of
Zhonglu
Oceanic, and
the related
transactions
involved will
25
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
be conducted
in accordance
with the
decision-
making
procedures of
related
transactions of
Zhonglu
Oceanic, and
will perform
legal
procedures
and
information
disclosure
obligations. 3.
The Company
and other
enterprises
controlled by
the Company
guarantee
strict
compliance
with laws,
regulations
and regulatory
documents
and the
relevant
provisions of
the articles of
association of
Zhonglu
Oceanic, and
exercise
shareholder
rights and
perform
shareholder
obligations on
an equal basis
with other
26
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
shareholders
in accordance
with legal
procedures,
and don’t seek
improper
interests or
harm the
legitimate
rights and
interests of
Zhonglu
Oceanic and
other
shareholders
by utilizing the
position of
controlling
shareholder. 4.
The above
commitments
continue to be
effective
during the
period that the
Company
controls
Zhonglu
Oceanic. If the
Company fails
to perform the
commitments
made in this
commitment
letter and
causes losses
and
consequences
to Zhonglu
Oceanic, the
Company will
bear the
corresponding
liability for
27
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
damage.
Commitments in assets reorganization
Commitments make in initial public
offering or re-financing
Equity incentive commitment
Other commitments for medium and
small shareholders
Completed on time (Y/N) Y
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
IX. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.
28
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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
No other material related transactions in the period
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.
29
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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.
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 did not carry out targeted poverty alleviation temporary. In the future, the Company will
focus on poverty alleviation through education contribution as the essential manner to perform its social responsibility, seeking for
poverty alleviation assistance demands to implemented the plans for purpose of making its own contribution to the national strategy
of poverty alleviation.
30
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
XVI. Explanation on other significant events
√Applicable □Not applicable
Name of the Notice Released date Website or index for disclosure
Notice of Director, Supervisor and Senior Executive Resignation 2019-1-5 http: //www.cninfo.com.cn
Notice of Resolution of 20th session of 6th BOD 2019-1-5 http: //www.cninfo.com.cn
Notice of Resolution of First Interim Shareholders General 2019-1-23 http: //www.cninfo.com.cn
Meeting 2019
Notice of Resolution of 1st session of 7th BOD 2019-5-17 http: //www.cninfo.com.cn
Notice of Resolution of 1st session of 7th Supervisory Committee 2019-5-17 http: //www.cninfo.com.cn
XVII. Significant event of subsidiary of the Company
□Applicable √Not applicable
31
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Section VI. Changes in Shares and Particular about Shareholders
I. Changes in Shares
1. Changes in shares
In Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Shares
Issuing transfer
Bonus
Amount Ratio new from Other Subtotal Amount Ratio
shares
shares public
reserves
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%
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
Implementation progress of the share repurchases
□Applicable √Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding
□Applicable √Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common shareholders
32
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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
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
11,768 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 Share-holding in unlisted listed
Shareholders shares
shareholder ratio reportin common common Status Amount
held at
g period circulati circulati
period-
on on
end
shares shares
Shandong State-
owned Assets
Investment State-owned 125,731, 125,731,
47.25%
Holding corporate 320 320
Company
Limited
Overseas natural 5,760,42 5,760,42
Chen Tianming 2.16%
person 7 7
Domestic natural 3,274,20 3,274,20
Cai Yujiu 1.23%
person 0 0
Haitong
International
2,118,73 2,118,73
Securities Overseas corporate 0.80%
6 6
Company
Limited-
33
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Account Client
GUOTAI
JUNAN
1,974,62 1,974,62
SECURITIES( Overseas corporate 0.74%
4 4
HONGKONG)
LIMITED
China National
Heavy Duty
State-owned 1,950,00 1,950,00
Truck Group 0.73%
corporate 0 0
Jinan Truck
LLC.
Shen Wan
Hongyuan 1,939,15 1,939,15
Overseas corporate 0.73%
Securities (H.K) 4 4
Co., Ltd.
Wang Overseas natural 1,215,20 1,215,20
0.46%
Dongsheng person 3 3
Overseas natural 1,048,68 1,048,68
Huang Jiayi 0.39%
person 7 7
Domestic natural
Lin Mingyu 0.36% 965,501 965,501
person
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 has 20% shares of China National Heavy Duty Truck
Explanation on associated Group Jinan Truck LLC. Rests of the shareholders are the domestically listed foreign
relationship among the aforesaid shareholders, and t he Company is unknown whether there exists associated relationship or
shareholders 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 5,760,427
shares
Domestically
Cai Yujiu 3,274,200 listed foreign 3,274,200
shares
Haitong International Securities 2,118,736 Domestically 2,118,736
34
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Company Limited-Account Client listed foreign
shares
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 1,974,624 listed foreign 1,974,624
LIMITED shares
Domestically
Shen Wan Hongyuan Securities
1,939,154 listed foreign 1,939,154
(H.K) Co., Ltd.
shares
Domestically
Wang Dongsheng 1,215,203 listed foreign 1,215,203
shares
Domestically
Huang Jiayi 1,048,687 listed foreign 1,048,687
shares
Domestically
Lin Mingyu 965,501 listed foreign 965,501
shares
Domestically
He Bin 887,447 listed foreign 887,447
shares
Domestically
Huang Weiguang 880,206 listed foreign 880,206
shares
Expiation on associated relationship
or consistent actors within the top 10 The Company is unknown whether there exists associated relationship or belongs to consistent
un-restrict shareholders and between actor regulated by “management method for acquisition of listed company” among the above
top 10 un-restrict shareholders and said shareholders.
top 10 shareholders
Explanation on shareholders
involving margin business about top
ten common stock shareholders with Not applicable
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.
35
山东省中鲁远洋渔业股份有限公司 2019 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.
36
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the reporting
37
山东省中鲁远洋渔业股份有限公司 2019 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 2018 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 Causes
Wang Huan Director Election 2019-01-22 Election on shareholder general meeting
Huang Wei Supervisor Election 2019-01-22 Election on shareholder general meeting
Chairman of
Liu Bing Supervisory Election 2019-05-16 Election on shareholder general meeting
Committee
Fu Chuanhai CFO Appointment 2019-01-04 Appointment by the Board
Meng Fanyong Deputy GM Appointment 2019-05-16 Appointment by the Board
Sui Jianshi Director Outgoing 2019-01-04 Job change
Chairman of Outgoing for
Zhang Liqing Supervisory office-term 2019-05-16 Outgoing for office-term expired
Committee expired
Hou Zhenkai Supervisor Outgoing 2019-01-04 Job change
Non-
Sui Jianshi Deputy GM 2019-01-04 Job change
reappointment
Non-
Zhao Minkun CFO 2019-01-04 Job change
reappointment
38
山东省中鲁远洋渔业股份有限公司 2019 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
39
山东省中鲁远洋渔业股份有限公司 2019 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. Consolidate balance sheet
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
2019-06-30
In RMB
Item 2019-6-30 2018-12-31
Current assets:
Monetary fund 172,505,897.17 183,453,073.56
Settlement provisions
Capital lent
Trading financial assets
Financial assets measured on fair
value and with its changes reckoned
into the current loss/gain
Derivative financial assets
Notes receivable
Account receivable 72,831,521.74 63,961,900.00
Receivables financing
Accounts paid in advance 13,180,507.81 22,389,784.46
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 6,972,749.22 5,529,723.80
40
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Including: interest receivable
Dividend receivable
Buying back the sale of financial
assets
Inventories 408,714,619.51 330,591,120.00
Contract assets
Assets held for sale
Non-current asset due within one
year
Other current assets 30,089,780.60 32,310,466.77
Total current assets 704,295,076.05 638,236,068.59
Non-current assets:
Loans and payments on behalf
Creditors’ investment
Financial assets available for sale
Other creditors’ investment
Held-to-maturity investment
Long-term account receivable
Long-term equity investments
Other equity instrument
investment
Other non-current financial assets
Investment real estate 33,424,124.45 30,464,518.89
Fixed assets 501,281,203.55 514,332,752.28
Construction in progress 17,528,453.31 11,073,476.37
Productive biological asset
Oil and gas asset
Right-of-use asset
Intangible assets 13,243,850.59 13,665,376.82
Expense on Research and
Development
Goodwill
Long-term prepaid expenses 376,348.47 524,811.27
Deferred income tax asset 1,926,163.26 1,926,163.26
Other non-current asset 8,223,985.00 3,059,416.20
41
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Total non-current asset 576,004,128.63 575,046,515.09
Total assets 1,280,299,204.68 1,213,282,583.68
Current liabilities:
Short-term loans 90,310,561.49 78,352,320.05
Loan from central bank
Capital borrowed
Trading financial liability
Financial liabilities measured on
the fair value and with its changes
reckoned into the current loss/gain
Derivative financial liability
Notes payable
Accounts payable 116,050,418.81 108,371,599.66
Accounts received in advance 36,374,846.47 17,561,329.01
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 36,476,473.14 44,016,063.96
Taxes payable 1,906,793.27 2,841,394.90
Other accounts payable 12,047,202.65 7,043,693.95
Including: interest payable 559,642.01 245,808.33
Dividend payable
Commission charge and
commission payable
Reinsurance payable
Contract liability
Liability held for sale
Non-current liabilities due within
433,292.74 866,585.48
one year
Other current liabilities
Total current liabilities 293,599,588.57 259,052,987.01
Non-current liabilities:
Insurance contract reserve
42
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long-term wages payable 1,513,560.34 1,513,560.34
Accrual liability
Deferred income 9,839,283.66 8,839,283.66
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 11,352,844.00 10,352,844.00
Total liabilities 304,952,432.57 269,405,831.01
Owners’ equity:
Share capital 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital reserve 284,054,997.75 284,054,997.75
Less: treasury stock
Other comprehensive income -711,649.56 -675,743.05
Reasonable reserve
Surplus reserve 21,908,064.19 21,908,064.19
Provision of general risk
Retained profit 260,568,895.55 232,148,801.35
Total owner’s equity attributable to
831,891,627.93 803,507,440.24
parent company
Minority interests 143,455,144.18 140,369,312.43
Total owner’s equity 975,346,772.11 943,876,752.67
Total liabilities and owner’s equity 1,280,299,204.68 1,213,282,583.68
Legal Representative: Lu Lianxing
Person in Charge of Accounting: Fu Chuanhai
43
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Person in Charge of Accounting Department: Lei Lixin
2. Balance Sheet of Parent Company
In RMB
Item 2019-6-30 2018-12-31
Current assets:
Monetary fund 38,041,258.67 58,180,225.27
Trading financial assets
Financial assets measured on fair
value and with its changes reckoned
into the current loss/gain
Derivative financial assets
Notes receivable
Account receivable 6,682,718.33 4,640,846.24
Receivables financing
Accounts paid in advance 2,941,473.85 2,745,721.08
Other account receivable 184,846,573.42 174,132,348.14
Including: interest receivable
Dividend receivable 91,841,262.03 92,964,132.10
Inventories 33,919,155.81 39,765,975.21
Contract assets
Assets held for sale
Non-current asset due within one
year
Other current assets 1,941,743.28 1,703,493.59
Total current assets 268,372,923.36 281,168,609.53
Non-current assets:
Creditors’ investment
Financial assets available for sale
Other creditors’ investment
Held-to-maturity investment
Long-term account receivable 5,793,491.41 5,432,212.74
Long-term equity investments 232,189,455.23 232,189,455.23
Other equity instrument
investment
44
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Other non-current financial assets
Investment real estate 33,424,124.45 30,464,518.89
Fixed assets 64,220,279.73 66,833,497.57
Construction in progress
Productive biological asset
Oil and gas asset
Right-of-use asset
Intangible assets 890,226.26 1,106,244.75
Expense on Research and
Development
Goodwill
Long-term prepaid expenses 195,792.95 302,589.05
Deferred income tax asset
Other non-current asset 0.00 426,581.20
Total non-current asset 336,713,370.03 336,755,099.43
Total assets 605,086,293.39 617,923,708.96
Current liabilities:
Short-term loans
Trading financial liability
Financial liabilities measured on
the fair value and with its changes
reckoned into the current loss/gain
Derivative financial liability
Notes payable
Accounts payable 5,006,269.11 8,034,779.37
Accounts received in advance 5,735,747.55 9,957,655.47
Contract liability
Wage payable 17,959,290.72 19,729,495.62
Taxes payable 158,952.15 333,936.38
Other accounts payable 67,168,358.52 78,713,961.06
Including: interest payable
Dividend payable
Liability held for sale
Non-current liabilities due within
one year
45
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Other current liabilities
Total current liabilities 96,028,618.05 116,769,827.90
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long-term wages payable 1,092,153.95 1,092,153.95
Accrual liability
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 1,092,153.95 1,092,153.95
Total liabilities 97,120,772.00 117,861,981.85
Owners’ equity:
Share capital 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital reserve 279,115,900.17 279,115,900.17
Less: treasury stock
Other comprehensive income
Reasonable reserve
Surplus reserve 19,184,672.34 19,184,672.34
Retained profit -56,406,371.12 -64,310,165.40
Total owner’s equity 507,965,521.39 500,061,727.11
Total liabilities and owner’s equity 605,086,293.39 617,923,708.96
3. Consolidated Profit Statement
In RMB
46
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Item Semi-annual of 2019 Semi-annual of 2018
I. Total operating income 515,468,659.14 440,322,776.97
Including: Operating income 515,468,659.14 440,322,776.97
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 483,700,588.70 417,410,385.40
Including: Operating cost 437,867,047.13 374,498,048.55
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras 1,485,273.60 1,333,504.23
Sales expense 11,996,385.92 14,843,224.40
Administrative expense 29,199,215.47 23,045,619.66
R&D expense
Financial expense 3,152,666.58 3,689,988.56
Including: Interest
2,382,040.26 3,082,690.15
expenses
Interest income 541,927.78 174,711.83
Add: other income 433,292.74 433,292.74
Investment income (Loss is
listed with "-")
Including: Investment income
on affiliated company and joint venture
The termination of income
recognition for financial assets measured
by amortized cost(Loss is listed with "-")
Exchange income (Loss is
listed with "-")
47
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Net exposure hedging income
(Loss is listed with "-")
Income from change of fair
value (Loss is listed with "-")
Loss of credit impairment
(Loss is listed with "-")
Losses of devaluation of asset
-3,302.88 151,387.56
(Loss is listed with "-")
Income from assets disposal
-1,399.00 -18,990.79
(Loss is listed with "-")
III. Operating profit (Loss is listed with "-
32,196,661.30 23,478,081.08
")
Add: Non-operating income
Less: Non-operating expense 24,200.00 427,108.38
IV. Total profit (Loss is listed with "-") 32,172,461.30 23,050,972.70
Less: Income tax expense 662,058.68 1,922,681.98
V. Net profit (Net loss is listed with "-") 31,510,402.62 21,128,290.72
(i) Classify by business continuity
1.continuous operating net profit
31,510,402.62 21,128,290.72
(net loss listed with ‘-")
2.termination of net profit (net loss
listed with ‘-")
(ii) Classify by ownership
1.Net profit attributable to owner’s
28,420,094.20 22,601,899.21
of parent company
2.Minority shareholders’ gains and
3,090,308.42 -1,473,608.49
losses
VI. Net after-tax of other comprehensive
-44,875.62 -23,938.25
income
Net after-tax of other comprehensive
income attributable to owners of parent -35,906.51 -14,135.54
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
48
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified -35,906.51 -14,135.54
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.gain/loss of fair value
changes for available-for-sale financial
assets
4.Amount of financial assets
re-classify to other comprehensive
income
5.Gain/loss of held-to-
maturity investments that re-classify to
available-for-sale financial asset
6.Credit impairment
provision for other debt investment
7.Cash flow hedging reserve
8.Translation differences
arising on translation of foreign currency -35,906.51 -14,135.54
financial statements
9.Other
Net after-tax of other comprehensive
income attributable to minority -8,969.11 -9,802.71
shareholders
VII. Total comprehensive income 31,465,527.00 21,104,352.47
Total comprehensive income
28,384,187.69 22,587,763.67
attributable to owners of parent Company
Total comprehensive income
3,081,339.31 -1,483,411.20
attributable to minority shareholders
VIII. Earnings per share:
49
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(i) Basic earnings per share 0.11 0.08
(ii) Diluted earnings per share 0.11 0.08
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: Fu Chuanhai
Person in Charge of Accounting Department: Lei Lixin
4. Profit Statement of Parent Company
In RMB
Item Semi-annual of 2019 Semi-annual of 2018
I. Operating income 90,518,493.12 79,888,714.36
Less: Operating cost 63,255,773.62 60,951,172.97
Taxes and surcharge 355,604.14 342,224.63
Sales expenses 5,438,557.64 6,582,490.13
Administration expenses 14,109,200.60 10,276,464.69
R&D expenses
Financial expenses -571,940.04 -1,041,062.37
Including: interest
-23,537.79
expenses
Interest income 209,935.62 104,516.67
Add: other income
Investment income (Loss is
listed with "-")
Including: Investment income
on affiliated Company and joint venture
The termination of
income recognition for financial assets
measured by amortized cost (Loss is
listed with "-")
Net exposure hedging income
(Loss is listed with "-")
Changing income of fair
value (Loss is listed with "-")
Loss of credit impairment
50
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(Loss is listed with "-")
Losses of devaluation of asset
-3,302.88 -2,053.90
(Loss is listed with "-")
Income on disposal of assets
(Loss is listed with "-")
II. Operating profit (Loss is listed with
7,927,994.28 2,775,370.41
"-")
Add: Non-operating income
Less: Non-operating expense 24,200.00 70,000.00
III. Total Profit (Loss is listed with "-") 7,903,794.28 2,705,370.41
Less: Income tax
IV. Net profit (Net loss is listed with "-
7,903,794.28 2,705,370.41
")
(i)continuous operating net profit
7,903,794.28 2,705,370.41
(net loss listed with ‘-")
(ii) termination of net profit (net
loss listed with ‘-")
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
51
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
other debt investment
3.gain/loss of fair value
changes for available-for-sale financial
assets
4.Amount of financial
assets re-classify to other
comprehensive income
5.Gain/loss of held-to-
maturity investments that re-classify to
available-for-sale financial asset
6.Credit impairment
provision for other debt investment
7.Cash flow hedging
reserve
8.Translation differences
arising on translation of foreign
currency financial statements
9.Other
VI. Total comprehensive income 7,903,794.28 2,705,370.41
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB
Item Semi-annual of 2019 Semi-annual of 2018
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 516,354,870.14 445,354,742.24
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
52
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings
and investment
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in sale
and purchase of securities
Write-back of tax received 18,156,060.52 29,094,665.73
Other cash received concerning
23,261,940.06 24,176,956.47
operating activities
Subtotal of cash inflow arising from
557,772,870.72 498,626,364.44
operating activities
Cash paid for purchasing
commodities and receiving labor 417,495,100.29 343,862,255.82
service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Net increase of financial assets
held for transaction purposes
Net increase of capital lent
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 63,172,046.67 59,531,961.28
Taxes paid 8,042,420.72 9,030,860.47
Other cash paid concerning
73,304,150.34 64,386,674.56
operating activities
Subtotal of cash outflow arising from 562,013,718.02 476,811,752.13
53
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
operating activities
Net cash flows arising from operating
-4,240,847.30 21,814,612.31
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
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
activities
Cash paid for purchasing fixed,
15,487,389.84 2,816,140.63
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
15,487,389.84 2,816,140.63
activities
Net cash flows arising from investing
-15,487,389.84 -2,800,663.63
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
100,000,000.00
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 65,683,927.18 44,481,427.05
54
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
65,683,927.18 144,481,427.05
activities
Cash paid for settling debts 53,222,974.42 157,275,541.94
Cash paid for dividend and profit
2,068,206.58 3,139,235.51
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
55,291,181.00 160,414,777.45
activities
Net cash flows arising from financing
10,392,746.18 -15,933,350.40
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -1,611,685.44 426,229.11
exchange rate
V. Net increase of cash and cash
-10,947,176.40 3,506,827.39
equivalents
Add: Balance of cash and cash
182,767,125.48 147,067,351.82
equivalents at the period -begin
VI. Balance of cash and cash
171,819,949.08 150,574,179.21
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB
Item Semi-annual of 2019 Semi-annual of 2018
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 74,442,966.97 37,086,232.35
services
Write-back of tax received
Other cash received concerning
24,878,328.23 13,622,760.58
operating activities
55
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Subtotal of cash inflow arising from
99,321,295.20 50,708,992.93
operating activities
Cash paid for purchasing
commodities and receiving labor 25,971,148.25 26,382,364.57
service
Cash paid to/for staff and workers 15,978,127.46 15,488,408.20
Taxes paid 1,146,367.73 1,324,993.47
Other cash paid concerning
76,293,284.88 12,830,808.80
operating activities
Subtotal of cash outflow arising from
119,388,928.32 56,026,575.04
operating activities
Net cash flows arising from operating
-20,067,633.12 -5,317,582.11
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
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
activities
Cash paid for purchasing fixed,
71,454.89 839,043.14
intangible and other long-term assets
Cash paid for investment 28,000,000.00
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
71,454.89 28,839,043.14
activities
Net cash flows arising from investing -71,454.89 -28,839,043.14
56
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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 121.41 1,291.21
exchange rate
V. Net increase of cash and cash
-20,138,966.60 -34,155,334.04
equivalents
Add: Balance of cash and cash
58,180,225.27 48,034,853.41
equivalents at the period -begin
VI. Balance of cash and cash
38,041,258.67 13,879,519.37
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
Current Period
In RMB
Semi-annual of 2019
Owners’ equity attributable to the parent Company
Minori Total
Item Share Other equity Less: Other Reaso Surplu Provisi Retain
Capital Subtot ty owners
capita instrument treasur compr nable s on of ed Other interes ’
reserve al
l Prefe Perpe Other y stock ehensi reserve reserve genera profit ts equity
57
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
rred tual ve l risk
stock capit incom
al e
secur
ities
I. Balance at the 266,0 284,05 - 21,908 232,14 803,50 140,36 943,87
end of the last 71,32 4,997. 675,74 ,064.1 8,801. 7,440. 9,312. 6,752.
year 0.00 75 3.05 9 35 24 43 67
Add:
Changes of
accounting
policy
Error
correction of the
last period
Enterprise
combine under
the same
control
Other
II. Balance at the 266,0 284,05 - 21,908 232,14 803,50 140,36 943,87
beginning of 71,32 4,997. 675,74 ,064.1 8,801. 7,440. 9,312. 6,752.
this year 0.00 75 3.05 9 35 24 43 67
III. Increase/
Decrease in this - 28,420 28,384 31,470
3,085,
year (Decrease 35,906 ,094.2 ,187.6 ,019.4
831.75
is listed with "- .51 0 9 4
")
(i) Total - 28,420 28,384 31,470
3,085,
comprehensive 35,906 ,094.2 ,187.6 ,019.4
831.75
income .51 0 9 4
(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-
58
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
based payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk
provisions
3. Distribution
for owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with surplus
reserve
4．Carry-over
retained
earnings from
the defined
benefit plans
5．Carry-over
retained
earnings from
other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at
266,0 284,05 - 21,908 260,56 831,89 143,45 975,34
the end of the
59
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
report period 71,32 4,997. 711,64 ,064.1 8,895. 1,627. 5,144. 6,772.
0.00 75 9.56 9 55 93 18 11
Last Period
In RMB
Semi-annual of 2018
Owners’ equity attributable to the parent Company
Other equity
instrument Other
Minorit
Perp compr Provisi Total
Item Share Less: Reaso Surplu Retain y
etual Capital ehensi on of Subtot owner’s
capita treasur nable s ed Other interest
Prefe capit reserve ve genera al equity
l rred Other y stock reserve reserve profit s
al incom l risk
stock
secur e
ities
I. Balance at the 266,0 279,99 - 21,908 141,86 703,76
35,321, 739,090
end of the last 71,32 8,206. 6,075, ,064.1 7,217. 9,793.
101.18 ,895.13
year 0.00 82 014.12 9 06 95
Add:
Changes of
accounting
policy
Error
correction of
the last period
Enterprise
combine under
the same
control
Other
II. Balance at 266,0 279,99 - 21,908 141,86 703,76
35,321, 739,090
the beginning 71,32 8,206. 6,075, ,064.1 7,217. 9,793.
101.18 ,895.13
of this year 0.00 82 014.12 9 06 95
III. Increase/
Decrease in this - 22,601 29,942
7,354, 91,005, 120,947
year (Decrease 14,135 ,899.2 ,173.7
410.04 128.57 ,302.28
is listed with "- .54 1 1
")
(i) Total - 22,601 22,587 -
21,114,
comprehensive 14,135 ,899.2 ,763.6 1,473,6
155.18
income .54 1 7 08.49
(ii) Owners’
devoted and 7,354, 7,354, 92,478, 99,833,
decreased 410.04 410.04 737.06 147.10
capital
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
1.Common 7,354, 7,354, 92,478, 99,833,
shares invested
410.04 410.04 737.06 147.10
by shareholders
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity
with share-
based payment
4. Other
(III) Profit
distribution
1. Withdrawal
of surplus
reserves
2. Withdrawal
of general risk
provisions
3. Distribution
for owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4．Carry-over
retained
earnings
from the
defined
benefit plans
5．Carry-over
retained
earnings from
other
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
(VI)Others
IV. Balance at 266,0 287,35 - 21,908 164,46 733,71
126,326 860,038
the end of the 71,32 2,616. 6,089, ,064.1 9,116. 1,967.
,229.75 ,197.41
report period 0.00 86 149.66 9 27 66
8. Statement of Changes in Owners’ Equity (Parent Company)
Current Period
In RMB
Semi-annual of 2019
Other equity instrument
Perpet Other
Less: Reasona Total
Item Share Capital compreh Surplus Retaine
Preferr ual treasury ble Other owner’s
capital ed capital Other reserve ensive reserve d profit
stock reserve equity
stock securiti income
es
I. Balance at the 266,07 279,115, 19,184,6
-
500,061,7
end of the last 1,320.0 64,310,
900.17 72.34 27.11
year 0 165.40
Add:
Changes of
accounting
policy
Error
correction of the
last period
Other
II. Balance at the 266,07 279,115, 19,184,6
-
500,061,7
beginning of this 1,320.0 64,310,
900.17 72.34 27.11
year 0 165.40
III. Increase/ 7,903,7 7,903,794.
Decrease in this
94.28 28
year (Decrease is
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
listed with "-")
(i) Total 7,903,7 7,903,794.
comprehensive
94.28 28
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．Carry-over
retained earnings
from the defined
benefit plans
5．Carry-over
retained earnings
from other
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,07 279,115, 19,184,6
-
507,965,5
end of the report 1,320.0 56,406,
900.17 72.34 21.39
period 0 371.12
Last Period
In RMB
Semi-annual of 2018
Other equity
instrument
Other
Perpet Less: Total
Item Share Capital compre Reasonab Surplus Retained
ual treasury Other owner’s
capital Preferr reserve hensive le reserve reserve profit
ed capital Other stock equity
income
stock securit
ies
I. Balance at the 266,07 279,115, 19,184,
-
384,188,64
end of the last 1,320. 180,183,2
900.17 672.34 6.13
year 00 46.38
Add:
Changes of
accounting
policy
Error
correction of the
last period
Other
II. Balance at 266,07 279,115, 19,184,
-
384,188,64
the beginning of 1,320. 180,183,2
900.17 672.34 6.13
this year 00 46.38
III. Increase/
Decrease in this 2,705,370 2,705,370.4
year (Decrease
.41 1
is listed with "-
")
(i) Total
2,705,370 2,705,370.4
comprehensive
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
income .41 1
(ii) Owners’
devoted and
decreased
capital
1.Common
shares invested
by shareholders
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity
with share-
based payment
4. Other
(III) Profit
distribution
1. Withdrawal
of surplus
reserves
2. Distribution
for owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4．Carry-over
retained
earnings from
the defined
benefit plans
5．Carry-over
retained
earnings from
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
(VI)Others
IV. Balance at 266,07 279,115, 19,184,
-
386,894,01
the end of the 1,320. 177,477,8
900.17 672.34 6.54
report period 00 75.97
III. Company profile
(i) Enterprise registration place, Organization form and Headquarters address
Shandong Zhonglu Oceanic Fisheries Co., Ltd. (hereinafter referred to as “Company” or “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: Shareholder General Meeting, BOD, Supervisory Committee, Office
of the GM (Office of the Party Committee), Departments of HR(Organization Dept.), Financial Management Dept.
(Capital Operation Dept.), Enterprise Development Dept., Auditing Dept., Oceanic Management Dept., Discipline
Inspection & Supervision Dept. (Dept. of Party-Masses Relationship) and Risk Control Dept. (Legal Affairs Dept.).
(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-license operation: 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 22 August 2019.
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(iv) Scope and changes of consolidated statements during the reporting period
Ended as 30 June 2019, consolidation scope of the Company including 4 secondary enterprises, 4 three-tier
enterprises and one operation entity with controlling rights obtained through operating lease.
4 secondary enterprises: Shandong Zhonglu Fishery Shipping Co., Ltd., Shandong Zhonglu Oceanic (Yantai) Foods
Co., Ltd., HABITAT INTERNATIONAL CORPORATION and Shandong Zhonglu Haiyan Deep-sea Fishery Co.,
Ltd; 4 three-tier enterprises: LAIF FISHERIES COMPANY LIMITED, Shandong Zhonglu Ocean Refrigerated Co.,
Ltd., AFRICA STAR FISHERIES LIMITED and ZHONG GHA FOODS COMPANY LIMITED; one operation
entity with controlling rights obtained through operating lease: YAW ADDO FISHERIES COMPANY LIMITED.
Entity of the consolidate scope found more in 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(Note X-(v).11), evaluation of inventory(Note X-(v).13), depreciation of fixed assets and intangible assets
amortization(Note X-(v).16) and (Note X-(v).19) and time of the revenue recognized (Note X-(v).23)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 2019 and the operation results as well as cash flow from January to June in 2019.
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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
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 assets from
acquiree’s, the differences should be recognized as goodwill. If the consolidation cost less than the fair value amount
of indentified net assets 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
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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) Set-off 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
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
As a parties of joint operation, the Company 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.
As a 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.
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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.
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) Category and re-classification of financial instrument
Financial instrument is the contract that taken shape of the financial asses for an enterprise and of the financial
liability or equity instrument for other units.
1) Financial asset
The financial assets meet the following conditions simultaneously are classified as financial assets measured by
70
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
amortized cost: ①The Company's business model for managing financial assets measured at amortized cost is to
collect contractual cash flows; and ② according to the contract regulations, the cash flows generated on a specific
date are only the payment for the principal and the interest based on the outstanding principal amount.
The financial assets meet the following conditions simultaneously are classified as financial assets measured on fair
value and with its variation reckoned into other comprehensive income:①The Company's business model for
managing such financial assets is to target at both the collection of contractual cash flows and the sale; and ②
according to the contract regulations, the cash flows generated on a specific date are only the payment for the
principal and the interest based on the outstanding principal amount.
For non-trading equity instrument investments, the Company irreversibly designates them as the financial assets
that are measured at fair value and whose changes are included in other comprehensive income in the initial
recognition. The designation is made based on a single investment and the relevant investment is in line with the
definition of equity instruments from the issuer's perspective.
Except for financial assets measured at amortized cost and financial assets measured at fair value and whose changes
are included in other comprehensive income, the Company classifies the financial assets as financial assets measured
at fair value and whose changes are included in current profit and loss. At the initial recognition, if the accounting
mismatch can be eliminated or reduced, the Company can irrevocably designate the financial assets as financial
assets measured at fair value and whose changes are included in current profit and loss.
When the Company changes its business model of managing financial assets, it will reclassify all affected financial
assets on the first day of the first reporting period after the business model changes, and adopt the future applicable
method from the date of reclassification for relevant accounting treatment, and will not make retrospective
adjustments to previously recognized gains, losses (including impairment losses or gains) or interest.
2)Financial liability
At initial recognition, financial liabilities are classified into financial liabilities measured by fair value with changes
counted into current gains/losses; financial assets transfer does not meet the conditions for derecognition or financial
liabilities that continue to be involved in the transferred financial assets; financial liabilities measured at amortized
cost. All financial liabilities are not reclassified.
(2) Measurement of financial instrument
The initial recognition of the Company's financial instruments is measured at fair value. For financial assets and
financial liabilities measured at fair value and whose changes are included in current profit and loss, the related
transaction expenses are directly recognized in current profit and loss. For other financial assets or financial
liabilities, the related transaction expenses are included in the initial recognition amount. For the accounts receivable
or notes receivable arising from the sale of products or the provision of labor services that do not contain or consider
significant financing components, the Company shall use the consideration amount that is expected to be received
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
as the initial recognition amount. Subsequent measurement of financial instruments depends on their classification.
1)Financial assets
①Financial assets measured at amortized cost
After initial recognition, such financial assets are measured at amortized cost by using the effective interest method.
Gains or losses arising from financial assets which are measured at amortized cost and are not a component of any
hedging relationship are included in current profit or loss when being derecognized ,re-classified and amortized by
effective interest method, or impaired.
②Financial assets measured at fair value and whose changes are included in other comprehensive income
After initial recognition, such financial assets (part of the financial assets belonging to hedging relationship excluded)
are subsequently measured at fair value. The gains or losses (interest and dividend revenue included) are reckoned
into current gains/losses.
③Debt instrument investment measured at fair value and with its variation reckoned into other comprehensive
income
After initial recognition, such financial assets are subsequently measured at fair value. The interest calculated by
using the effective interest method, the impairment loss or gains and the exchange gains and losses are recognized
in the current profit and loss, other gains or losses are recognized in other comprehensive income. When being
derecognized, the accumulated gains or losses previously recognized in other comprehensive income are transferred
from other comprehensive income and recognized in current profit and loss.
④Non-trading equity instrument investment designated measured by fair value and with its variation reckoned into
other comprehensive income
After initial recognition, such financial assets are subsequently measured at fair value. Except the dividends obtained
(excluding the recovery of investment costs) are included in current profit and loss, the other related gains and losses
are included in other comprehensive income and will not be transferred in the current profit and loss.
2)Financial liability
①Financial liabilities measured at fair value and whose changes are included in current profit and loss
Such financial liabilities include transactional financial liabilities (including derivatives that are financial liabilities)
and financial liabilities designated to be measured at fair value and whose changes are included in current profit and
loss. After the initial recognition, such financial liabilities are subsequently measured at fair value, in addition to
relevant to the hedge accounting, the gains or losses (including interest expenses) arising from changes in the fair
value of the financial liabilities are included in current profit and loss.
If the financial liabilities are designated to be measured at fair value and whose changes are included in current
profit and loss, the changes in the fair value of the financial liabilities caused by the changes in the enterprise’s own
credit risks are included in other comprehensive income, and other changes in fair value are included in current
profit and loss. If the effect of the change in the credit risk of the financial liability being included in other
comprehensive income shall cause or expand the accounting mismatch in profit or loss, the Company will include
the entire gains or losses of the financial liability in the current profit and loss.
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
②Financial liabilities measured at amortized cost
After initial recognition, such financial liabilities are measured at amortized cost by using the effective interest
method.
(3) How the Company recognizes the fair value of financial instruments
If the financial instrument has an active market, its fair value is determined by the quoted price in the active market;
if the financial instrument doesn’t have an active market, its fair value is determined by the valuation technique.
Valuation techniques mainly include market approach, income approach and cost method.
In limited circumstances, if the recent information used to determine the fair value is insufficient, or the possible
estimated amount of fair value is widely distributed, and the cost represents the best estimate of the fair value within
the range, the cost may represent the appropriate estimates of fair value within this distribution. The Company uses
all the information about the performance and operations of the investee that can be obtained after the initial
recognition date to judge whether the cost can represent the fair value.
(4) Confirmation basis and measurement method for transfer of financial assets and financial liabilities
1) Financial assets
If the financial asset of the Company meets one of the following conditions, it shall be derecognized: ① the
contractual right to receive the cash flow of the financial asset is terminated; ②the financial asset has been
transferred, and the Company has transferred almost all the risks and remuneration of ownership of the financial
assets; ③the financial asset has been transferred., although the Company has neither transferred nor retained almost
all remuneration of the financial assets, it does not retain control over the financial asset.
If the Company neither transfers nor retains almost all remuneration of the financial asset, and does not retain control
over the financial asset, the relevant financial asset is recognized according to the extent of continuing involvement
in the transferred financial asset, and the related liabilities are recognized accordingly.
If the financial asset transfer generally meets the conditions for derecognition, the difference between the following
two amounts is included in the current profit and loss: ① the book value of the transferred financial asset on the
date of derecognition; ② the sum of the consideration received due to the transfer of financial asset and the amount
(the financial asset involving transfer is classified as the financial asset measured at fair value and whose changes
are included in other comprehensive income)corresponding to the derecognition portion in cumulative amount of
changes in fair value originally and directly included in other comprehensive income.
If partial transfer of financial asset meets the conditions for derecognition, the whole book value of the transferred
financial asset will be apportioned between the derecognition portion and the non-derecognition portion according
to the respective fair value at the transfer date, and then include the difference of following two amounts in profit
and loss for the current period: ① the book value of the derecognized portion on the date of derecognition; ② the
sum of the consideration received from the derecognized portion and the amount (the financial asset involving
transfer is classified as the financial asset measured at fair value and whose changes are included in other
comprehensive income) corresponding to the derecognition portion in cumulative amount of changes in fair value
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
originally included in other comprehensive income.
2) Financial liabilities
If the current obligation of a financial liability (or part of it) has been discharged, the Company derecognizes the
financial liability (or part of the financial liability).
If a financial liability (or a part of it) is derecognized, the Company includes the difference between the book value
and the consideration paid (including the transferred non-cash assets or liabilities assumed) in current profit and
loss.
(5) Methods for determining expected credit losses and accounting treatment methods
1) Methods for determining expected credit losses
Based on the expected credit losses, the Company conducts accounting for impairment and confirms loss provisions
for financial assets (including receivables) measured at amortized cost, debt investments measured at fair value and
whose changes are included in other comprehensive income (including receivables financing) ), and lease
receivables.
On each balance sheet date, the Company assesses whether the credit risk of relevant financial instrument has
increased significantly since the initial recognition. The process of credit impairment of financial instrument is
divided into three stages, and there are different accounting treatment methods for the impairment of financial
instrument at different stages: ① In the first stage, if the credit risk of financial instrument has not increased
significantly since the initial recognition, the Company measures the loss provisions according to the expected credit
losses of the financial instrument in the next 12 months, and calculate the interest income according to its book
balance (i.e., not deducting provision for impairment) and effective interest rate. ②In the second stage, if the credit
risk of financial instrument has increased significantly since the initial recognition but no credit impairment has
occurred, the Company measures the loss provisions according to the expected credit losses of the financial
instrument for the entire duration, and calculate the interest income according to its book balance and effective
interest rate. ③ In the third stage, if the credit risk has credit impairment, the Company measures the loss provisions
according to the expected credit losses of the financial instrument for the entire duration, and calculate the interest
income according to its book balance (book balance impairment has made provisions for impairment) and effective
interest rate.
① Method for measuring loss provisions for financial instruments with lower credit risk
For financial instruments with lower credit risk on the balance sheet date, the Company can directly make the
assumption that the credit risk of the instrument has not increased significantly since the initial recognition without
comparing with the credit risk at the initial recognition.
② Methods for measuring the loss provisions of receivables and lease receivables
The Company adopts the simplified method for receivables formed by transactions regulated by the Accounting
Standards for Business Enterprises No. 14 - Revenue (whether or not it contains significant financing components),
and lease receivables regulated by the Accounting Standards for Business Enterprises No. 21 - Leases, that is, the
loss provisions are always measured according to the expected credit loss for the entire duration.
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A. Method for determining expected credit losses of accounts receivable and accounting treatment methods
a. For accounts receivable among enterprises within the scope of the consolidated statements of the Company, the
Company judges that there is no expected credit loss, and no provision for credit losses is made.
b. For accounts receivable outside the enterprises within the scope of the consolidated statements of the Company,
the Company makes reference to the historical credit loss experience, combines with the current situation and the
forecast of future economic conditions, prepares the accounts receivable aging and the expected credit loss rate
comparison table for the entire duration, and calculates the expected credit loss.
c. If the Company obtains sufficient evidence of a significant increase in credit risk on a single account receivable,
the expected credit loss of the account receivable is determined based on the difference between the book value of
the receivable and the present value of the cash flow expected to be received, and provisions for loss are made.
B. Method for determining expected credit losses of notes receivable and accounting treatment methods
The Company doesn’t expect credit losses on the bank acceptance bills obtained, for the commercial acceptance
bills obtained, the Company treats the bills as accounts receivable and make provisions for expected credit losses.
③Method for measuring loss provisions of other financial assets
For financial assets other than those mentioned above, such as debt investment, other debt investment, other
receivables, long-term receivables other than lease receivables, etc., the Company measures loss provisions
according to the general method, namely the “three-stage” model.
2) Accounting treatment methods of expected credit losses
In order to reflect the changes in the credit risk of financial instruments since the initial recognition, the Company
re-measures the expected credit losses on each balance sheet date, and the increase or reversal amount of the loss
provisions resulting from this shall be treated as impairment losses or gains and included in the current profit and
loss, and according to the type of financial instruments, the book value of the financial assets listed in the balance
sheet is deducted or included in the estimated liabilities (loan commitments or financial guarantee contracts) or
included in other comprehensive income (debt investments measured at fair value and whose changes are included
in other comprehensive income).
11. Account receivable
Found more in Note V-10 Financial instrument
12. Other account receivable
Determination and accounting treatment on expected credit loss of other account receivable
Found more in Note V-10 Financial instrument
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13. 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, revolving materials and goods in transit.
(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 long-
line fishing 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.
14. Long-term equity investments
(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
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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 of “Accounting
Standards for Business Enterprise No.7- Exchange of the Non-monetary Assets”.
(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—Recognition 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:
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
Investment real estate of the Company refers to the leased buildings. The 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:
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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 2.25-5.00
Vessel and netting gear Straight-line depreciation 5-30 3-5 3.17-19.40
Machine equipment Straight-line depreciation 8-20 0-10 4.50-12.50
Transportation
Straight-line depreciation 5 0-10 18.00-20.00
equipment
Furniture and office
Straight-line depreciation 5 0-10 18.00-20.00
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
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. Construction in progress
Construction in progress of the Company divided as self-run construction and out-bag construction. The
Construction 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.
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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
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. 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.
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Amortization of intangible assets with limited life:
Category Service life (Year) Amortization method
Land use rights 42 Straight-line method
Computer software 10 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
20. Long-term assets 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
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.
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21. 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.
22. 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 accounting standards of the enterprise, 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
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.
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23. Revenue
Whether the company needs to comply with the disclosure requirements of the particular industry
No
Whether implemented the new revenue standards
□Yes √No
When the products sold by the Company meet the following conditions, the sales revenue of the goods is recognized
according to the amount of the contract or agreement received or receivable from the purchaser: ①The main risks
and rewards of ownership of the goods have been transferred to the buyer. ②Neither retain the continuous
management rights usually associated with ownership, nor carry out effective control over the sold goods. ③The
amount of income can be reliably measured. ④Relevant economic benefits are likely to flow into the enterprise.
⑤Relevant costs incurred or to be incurred can be reliably measured.
For the Company's purse seine fish sold at overseas bases, generally, the income is recognized after obtaining the
vast majority of payment from the customers and after the delivery of the fish. In the case of export sales by the
local country, the income is recognized when the shipping order and bill of lading are obtained.
Most of the Company's longline fishing goods are shipped back to domestic sales, the sales department refers to the
transaction price of Japanese Shimizu for external sales, and both parties confirm the change of the cargo rights
based on the signing of the sales contract and the value decision table. The company confirms sales revenue based
on the sales contract and the value decision table.
Domestic sales of the Company's aquatic products processing: Shandong Zhonglu Oceanic (Yantai) Foods Co., Ltd.
issues a delivery confirmation according to the fax or mail order from domestic customers, and the sales staff arrange
the warehouse management department to stock up and deliver the goods by air, long-distance bus or other means
of delivery, the company issues the sales invoice and confirms the sales revenue according to the delivery
confirmation issued by the sales department and signed by the warehouse management department.
Foreign sales of the Company's aquatic products processing: After the international trade department obtains the
purchase orders of foreign customers, it issues an export delivery confirmation form and arranges the storage and
transportation department to stock up. After the export goods are packed and sent out, the warehouse management
department sign on the delivery confirmation issued by the international trade department, and obtain the export
documents such as packing list and bill of lading issued by the transportation department after shipment, and obtain
the export declaration form issued by the customs. The company issues the sales invoice and confirms the sales
revenue according to the export documents such as delivery confirmation, packing list and customs declaration.
The Company's vessel rental income: The transportation vessel leasing of Shandong Zhonglu Aquatic Marine Co.,
Ltd. and Habitat International Corporation's adopts the time charter, the company leases the ships equipped with
operators to others for a certain period of time, and waits for the dispatch of the leasee during the lease term.
Regardless of whether it is operated or not, the rental fee is charged to the lessee on a daily basis, and the company
is responsible for the occurrence of fixed expenses (such as personnel salaries, maintenance costs, etc.). During the
term of the lease, the customer settles accounts regularly and the revenue is recognized according to the number of
lease days confirmed by the customer.
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24. Government subsidy
(1) Types of government subsidy and accounting treatment
government subsidy refer to monetary assets or non-monetary assets that the Company obtains from the government
without compensation (but excluding the capital invested by the government as the owner). If the government grant
is a monetary asset, it shall be measured according to the amount received or receivable. If the government grant is
a non-monetary asset, it shall be measured at fair value; if the fair value cannot be obtained reliably, it is measured
at the nominal amount.
government subsidy related to daily activities are included in other income in accordance with the economic
business. government subsidy not related to daily activities are included in the non-operating income and
expenditure.
government subsidy that the government documents clearly stipulate for acquisition and construction or forming
long-term assets in other ways are recognized as government subsidy related to assets. If the government documents
do not clearly specify the grant target, government subsidy that can form long-term assets, of which the part
corresponding to the asset value is used as the government subsidy related to the assets, and the rest is used as the
government subsidy related to the income; if it is difficult to distinguish, the whole government subsidy will be used
as a government grant related to income. government subsidy related to assets are recognized as deferred income.
The amount recognized as deferred income is included in the current profit and loss in a reasonable and systematic
manner within the useful life of the relevant asset.
government subsidy other than government subsidy related to assets are recognized as government subsidy related
to income. If a government grant related to the income is used to compensate the relevant expenses or losses of the
enterprise in the future period, it is recognized as deferred income and is included in the current profit and loss
during the period of recognizing related expenses; the government grant used to compensate the occurred relevant
expenses or losses of the enterprise is directly included in the current profit and loss.
The Company obtains the policy preferential loan interest subsidy, and the government allocates the interest subsidy
funds to the loan bank. If the loan bank provides loans to the Company at a policy preferential interest rate, the
actually received loan amount will be used as the entry value of the loan, and the relevant borrowing costs will be
calculated according to the loan principal and the policy preferential interest rate. If the government directly
allocates the interest subsidy to the Company, the Company will offset the corresponding interest subsidy against
relevant borrowing costs.
(2) Confirmation time-point of government subsidy
government subsidy are recognized when they meet the conditions attached to government subsidy and can be
received. government subsidy measured in accordance with the amount receivable are recognized when there is
conclusive evidence at the end of the period that they conform to relevant conditions stipulated in the financial
support policy and are expected to receive financial support funds. Other government subsidy other than government
subsidy measured in accordance with the receivable amount are recognized when the grant is actually received.
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25. 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.
26. 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
account payable.
27. Other important accounting policy and estimation
(1) Changes in important accounting policies
√Applicable □Not applicable
Content and causes of accounting policy Approval procedures Note
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changed
Implementation of new financial
Deliberated by the Board Found more in 1)
instrument standards
Implementation of new non-monetary
Deliberated by the Board Found more in 2)
assets exchanges standards
Implementation of new debt restructurings
Deliberated by the Board Found more in 3)
standards
Implementation of new financial statement
Deliberated by the Board Found more in 4)
format
1) Impacts of the implementation of new financial instrument standards on the Company
The Accounting Standards for Business Enterprise No. 22- Recognition and Measurement of Financial Instruments,
Accounting Standards for Business Enterprise No. 23- Transfer of Financial Assets, Accounting Standards for
Business Enterprise No. 24- Hedge Accounting and Accounting Standards for Business Enterprise No. 37-
Presentation of Financial Instruments ( these four items are collectively referred to as the new financial instrument
standards) revised by the Ministry of Finance in 2017 are implemented by the Company since 1st January 2019.
Accounting policy after change found more in Note V-10.
The implementation of above mentioned standards will have no significant impact during the reporting period.
2) Impacts of the implementation of Accounting Standards for Business Enterprise No. 7- Non-monetary Assets
Exchanges (2019 Revised) on the Company
Ministry of Finance issued the Accounting Standards for Business Enterprise No. 7- Non-monetary Assets
Exchanges (2019 Revised) (Cai Kuai [2019] No.8) on 9 May 2019, and carry into effect since 10 June 2019. As for
the non-monetary assets exchange occurred from 1st January 2019 to the date of implementation of the standards,
should be adjusted according to the standards above mentioned. As for the non-monetary assets exchange occurred
before 1st January 2019, retroactive adjustments are not required in accordance with the standards.
The implementation of above mentioned standards will have no significant impact during the reporting period.
3)Impacts of the implementation of Accounting Standards for Business Enterprise No. 12- Debt Restructurings
(2019 Revised) on the Company
Ministry of Finance issued the Accounting Standards for Business Enterprise No. 12- Debt Restructurings (2019
Revised) (Cai Kuai [2019] No.9) on 16 May 2019, and carry into effect since 17 June 2019. As for the debt
restructuring occurred from 1st January 2019 to the date of implementation of the standards, should be adjusted
according to the standards above mentioned. As for the debt restructuring occurred before 1st January 2019,
retroactive adjustments are not required in accordance with the standards.
The implementation of above mentioned standards will have no significant impact during the reporting period.
4)Impacts of the implementation of Notice on Revision and Issuance of 2019 Financial Statement Format for
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
General Corporate (Cai Kuai [2019] No.6) on the Company
On 30 April 2019, the Ministry of Finance issued the Notice on Revision and Issuance of 2019 Financial Statement
Format for General Corporate (Cai Kuai [2019] No.6) (hereinafter referred to as Cai Kuai [2019] No.6), the non-
financial enterprises (that implement the Accounting Standards for Business Enterprise) are required to preparing
the financial statement in accordance with the Accounting Standards for Business Enterprise and Cai Kuai [2019]
No.6. the financial statement for semi-annual of 2019, the annual financial statement and financial statements for
subsequent periods are requried to prepared in line with the Cai Kuai [2019] No.6.
The comparative date during the comparable period are adjusted by the Company according to the Cai Kuai [2019]
No.6, revision of the financial statement format have no significant impact on total assets, total liability, net profit
and other comprehensive income of the Company.
(2) Changes in important accounting estimates
□Applicable √Not applicable
(3) Adjust relevant items of financial statements at beginning of the year of fist execution, when first
implemented the new financial instrument standards, new income standards and new leasing standards
√Applicable □Not applicable
Consolidate balance sheet
In RMB
Item 2018-12-31 2019-01-01 Adjustment
Current assets:
Monetary fund 183,453,073.56 183,453,073.56
Settlement provisions
Capital lent
Trading financial assets
Financial assets
measured on fair value and
with its changes reckoned
into the current loss/gain
Derivative financial
assets
Notes receivable
Account receivable 63,961,900.00 63,961,900.00
Receivables financing
Accounts paid in
22,389,784.46 22,389,784.46
advance
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Other account
5,529,723.80 5,529,723.80
receivable
Including: interest
receivable
Dividend
receivable
Buying back the sale of
financial assets
Inventories 330,591,120.00 330,591,120.00
Contract assets
Assets held for sale
Non-current asset due
within one year
Other current assets 32,310,466.77 32,310,466.77
Total current assets 638,236,068.59 638,236,068.59
Non-current assets:
Loans and payments on
behalf
Creditors’ investment
Financial assets
available for sale
Other creditors’
investment
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
investments
Other equity instrument
investment
Other non-current
financial assets
87
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Investment real estate 30,464,518.89 30,464,518.89
Fixed assets 514,332,752.28 514,332,752.28
Construction in progress 11,073,476.37 11,073,476.37
Productive biological
asset
Oil and gas asset
Right-of-use asset
Intangible assets 13,665,376.82 13,665,376.82
Expense on Research
and Development
Goodwill
Long-term prepaid
524,811.27 524,811.27
expenses
Deferred income tax
1,926,163.26 1,926,163.26
asset
Other non-current asset 3,059,416.20 3,059,416.20
Total non-current asset 575,046,515.09 575,046,515.09
Total assets 1,213,282,583.68 1,213,282,583.68
Current liabilities:
Short-term loans 78,352,320.05 78,352,320.05
Loan from central bank
Capital borrowed
Trading financial
liability
Financial liabilities
measured on the fair value
and with its changes
reckoned into the current
loss/gain
Derivative financial
liability
Notes payable
Accounts payable 108,371,599.66 108,371,599.66
Accounts received in
17,561,329.01 17,561,329.01
advance
Selling financial asset of
repurchase
88
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Absorbing deposit and
interbank deposit
Security trading of
agency
Security sales of agency
Wage payable 44,016,063.96 44,016,063.96
Taxes payable 2,841,394.90 2,841,394.90
Other accounts payable 7,043,693.95 7,043,693.95
Including: interest
245,808.33 245,808.33
payable
Dividend
payable
Commission charge and
commission payable
Reinsurance payable
Contract liability
Liability held for sale
Non-current liabilities
866,585.48 866,585.48
due within one year
Other current liabilities
Total current liabilities 259,052,987.01 259,052,987.01
Non-current liabilities:
Insurance contract
reserve
Long-term loans
Bonds payable
Including: preferred
stock
Perpetual
capital securities
Lease liability
Long-term account
payable
Long-term wages
1,513,560.34 1,513,560.34
payable
Accrual liability
Deferred income 8,839,283.66 8,839,283.66
89
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Deferred income tax
liabilities
Other non-current
liabilities
Total non-current liabilities 10,352,844.00 10,352,844.00
Total liabilities 269,405,831.01 269,405,831.01
Owners’ equity:
Share capital 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred
stock
Perpetual
capital securities
Capital reserve 284,054,997.75 284,054,997.75
Less: treasury stock
Other comprehensive
-675,743.05 -675,743.05
income
Reasonable reserve
Surplus reserve 21,908,064.19 21,908,064.19
Provision of general risk
Retained profit 232,148,801.35 232,148,801.35
Total owner’s equity
attributable to parent 803,507,440.24 803,507,440.24
company
Minority interests 140,369,312.43 140,369,312.43
Total owner’s equity 943,876,752.67 943,876,752.67
Total liabilities and owner’s
1,213,282,583.68 1,213,282,583.68
equity
Explanation
The Ministry of Finance issued the revised Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of
Financial Instruments (CK [2017] No.7), the Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets(CK
[2017] No.8), Accounting Standards for Business Enterprises No. 24 - Hedge Accounting (CK [2017] No.9) and Accounting Standards
for Business Enterprises No. 37 – Financial Instruments Presentation (CK [2017] No.14) in 2017, and the Company implemented the
above mentioned new accounting standards since 1 Jan. 2019. The Company reports the available-for-sale financial assets as other
equity instrument investments after January 1, 2019. According to the convergence regulations, the information of the comparable
period will not be adjusted, and the difference between the implementation of the new standard on the first day and the original standard
will retrospectively adjust the retained earnings at the beginning of the reporting period. The implementation of the new financial
instrument standard adjusts the available-for-sale financial assets to other equity instrument investments, as the available-for-sale
financial assets have been fully provided for impairment losses at the book balance (book balance of 33,000,000.00), the book value is
90
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
0, so it has no effect on the report of current period.
Balance sheet of parent company
In RMB
Item 2018-12-31 2019-01-01 Adjustment
Current assets:
Monetary fund 58,180,225.27 58,180,225.27
Trading financial assets
Financial assets
measured on fair value and
with its changes reckoned
into the current loss/gain
Derivative financial
assets
Notes receivable
Account receivable 4,640,846.24 4,640,846.24
Receivables financing
Accounts paid in
2,745,721.08 2,745,721.08
advance
Other account
174,132,348.14 174,132,348.14
receivable
Including: interest
receivable
Dividend
92,964,132.10 92,964,132.10
receivable
Inventories 39,765,975.21 39,765,975.21
Contract assets
Assets held for sale
Non-current asset due
within one year
Other current assets 1,703,493.59 1,703,493.59
Total current assets 281,168,609.53 281,168,609.53
Non-current assets:
Creditors’ investment
Financial assets
available for sale
Other creditors’
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
investment
Held-to-maturity
investment
Long-term account
5,432,212.74 5,432,212.74
receivable
Long-term equity
232,189,455.23 232,189,455.23
investments
Other equity instrument
investment
Other non-current
financial assets
Investment real estate 30,464,518.89 30,464,518.89
Fixed assets 66,833,497.57 66,833,497.57
Construction in progress
Productive biological
asset
Oil and gas asset
Right-of-use asset
Intangible assets 1,106,244.75 1,106,244.75
Expense on Research
and Development
Goodwill
Long-term prepaid
302,589.05 302,589.05
expenses
Deferred income tax
asset
Other non-current asset 426,581.20 426,581.20
Total non-current asset 336,755,099.43 336,755,099.43
Total assets 617,923,708.96 617,923,708.96
Current liabilities:
Short-term loans
Trading financial
liability
Financial liabilities
measured on the fair value
and with its changes
reckoned into the current
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
loss/gain
Derivative financial
liability
Notes payable
Accounts payable 8,034,779.37 8,034,779.37
Accounts received in
9,957,655.47 9,957,655.47
advance
Contract liability
Wage payable 19,729,495.62 19,729,495.62
Taxes payable 333,936.38 333,936.38
Other accounts payable 78,713,961.06 78,713,961.06
Including: interest
payable
Dividend
payable
Liability held for sale
Non-current liabilities
due within one year
Other current liabilities
Total current liabilities 116,769,827.90 116,769,827.90
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred
stock
Perpetual
capital securities
Lease liability
Long-term account
payable
Long-term wages
1,092,153.95 1,092,153.95
payable
Accrual liability
Deferred income
Deferred income tax
liabilities
Other non-current
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
liabilities
Total non-current liabilities 1,092,153.95 1,092,153.95
Total liabilities 117,861,981.85 117,861,981.85
Owners’ equity:
Share capital 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred
stock
Perpetual
capital securities
Capital reserve 279,115,900.17 279,115,900.17
Less: treasury stock
Other comprehensive
income
Reasonable reserve
Surplus reserve 19,184,672.34 19,184,672.34
Retained profit -64,310,165.40 -64,310,165.40
Total owner’s equity 500,061,727.11 500,061,727.11
Total liabilities and owner’s
617,923,708.96 617,923,708.96
equity
Explanation
The Ministry of Finance issued the revised Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of
Financial Instruments (CK [2017] No.7), the Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets(CK
[2017] No.8), Accounting Standards for Business Enterprises No. 24 - Hedge Accounting (CK [2017] No.9) and Accounting Standards
for Business Enterprises No. 37 – Financial Instruments Presentation (CK [2017] No.14) in 2017, and the Company implemented the
above mentioned new accounting standards since 1 Jan. 2019. The Company reports the available-for-sale financial assets as other
equity instrument investments after January 1, 2019. According to the convergence regulations, the information of the comparable
period will not be adjusted, and the difference between the implementation of the new standard on the first day and the original standard
will retrospectively adjust the retained earnings at the beginning of the reporting period. The implementation of the new financial
instrument standard adjusts the available-for-sale financial assets to other equity instrument investments, as the available-for-sale
financial assets have been fully provided for impairment losses at the book balance (book balance of 33,000,000.00), the book value is
0, so it has no effect on the report of current period.
(4) Retrospective adjustment of early comparative data for the first implementation of new financial
standards and new lease standards
□Applicable √Not applicable
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
VI. Taxes
1. Major tax and tax rate
Taxes Taxation basis Tax rate
VAT Output tax minor the deductible input tax 16%, 13%, 10%, 9%, 6%, 3%
Urban maintenance and construction tax Turnover taxes payable 7%
Corporate income ax Taxable amount Exemption, 25%, 8%
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 Deep-sea Fishery Co., Ltd Exemption
AFRICA STAR FISHERIES LIMITED 8% for export parts, 25% for domestic sales
HABITAT INTERNATIONAL CORPORATION Exemption
LAIF FISHERIES COMPANY LIMITED 25%
ZHONG GHA FOODS COMPANY LIMITED 25%
Shandong Zhonglu Fishery Shipping Co., Ltd. 25%
Imposing no tax on aquatic product processing, and 25% for
Shandong Zhonglu Ocean Refrigerated Co., Ltd.
refrigeration service
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.
(2) Income tax preference:
According to relevant regulation of 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), 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) and the Notice About the Preferential Problems of Corporate Income Tax for
95
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Implementation of Agriculture Animal Husbandry and Fishery of Ministry of Finance and State Administration of Taxation (Notice of
the State Administration of Taxation 2011 No. 48), as for the initial processing of agricultural products and the commissioned initial
processing of an agricultural product, as well as the processing fees it charges, may be handled in accordance with the tax-free items
for initial 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%.
VII. Notes to main items in consolidated financial statement
1. Monetary fund
In RMB
Item Closing balance Opening balance
Cash on hand 664,425.27 1,213,325.43
Bank deposit 171,155,523.82 181,553,800.05
Other monetary fund 685,948.08 685,948.08
Total 172,505,897.17 183,453,073.56
Including: Total amount save aboard 29,540,900.00 22,689,473.81
Other explanation
2. Trading financial assets
In RMB
Item Closing balance Opening balance
Including:
Including:
Other explanation:
3. Derivative financial assets
In RMB
Item Closing balance Opening balance
Other explanation:
4. Notes receivable
(1) Category
In RMB
96
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Item Closing balance Opening balance
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book Book
Accrual Accrual
Amount Ratio Amount value Amount Ratio Amount value
ratio ratio
Including:
Including:
Accrual bad debt provision on single basis:
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Accrual bad debt provision on portfolio
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio basis:
If the provision for bad debts of notes receivable is made in accordance with the general model of expected credit losses, please refer
to the disclosure of other account receivable to disclose related information about bad-debt provisions:
□Applicable √Not applicable
(2) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Category Opening balance Closing balance
Accrual Collected or reversal Charge-off
Including important amount of bad debt provision collected or reversal in the period:
□Applicable √Not applicable
(3) Note receivable pledged at period-end
In RMB
Item Amount pledged at period-end
(4) Note receivable which have endorsed and discount at period-end and has not expired on balance sheet
date
In RMB
97
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Item Amount derecognition at period-end Amount not derecognition at period-end
(5) Notes transfer to account receivable due for failure implementation by drawer at period-end
In RMB
Item Amount transfer to account receivable at period-end
Other explanation
(6) Note receivable actually charge-off in the period
In RMB
Item Amount charge-off
Including important note receivable charge-off:
In RMB
Amount cause by
Procedure for
Enterprise Nature Amount charge-off Causes related transactions
charge-off
or not (Y/N)
Explanation on note receivable change-off:
5. Account receivable
(1) Category
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Including:
Account receivable
with bad debt 82,512,1 9,680,59 72,831,52 73,642,49 9,680,593 63,961,900.
100.00% 11.73% 100.00% 13.15%
provision accrual by 14.75 3.01 1.74 3.01 .01 00
portfolio
Including:
82,512,1 9,680,59 72,831,52 73,642,49 9,680,593 63,961,900.
Total 100.00% 11.73% 100.00% 13.15%
14.75 3.01 1.74 3.01 .01 00
Accrual bad debt provision on single basis:
In RMB
Name Closing balance
98
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Book balance Bad debt provision Accrual ratio Accrual causes
Accrual of bad debt provision on portfolio: 9,680,593.01 Yuan
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio
Bad debt provision of account
82,512,114.75 9,680,593.01 11.73%
receivable
Total 82,512,114.75 9,680,593.01 --
Explanation on portfolio basis:
Accrual of bad debt provision on portfolio
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio basis:
If the provision for bad debts of accounts receivable is made in accordance with the general model of expected credit losses, please
refer to the disclosure of other account receivable to disclose related information about bad-debt provisions:
□Applicable √Not applicable
By account age
In RMB
Account age Closing balance
Within one year (one year included) 75,334,538.46
Including within six months 58,398,347.24
Six months - one year 16,936,191.22
1-2 years 861,611.62
2-3 years 589,691.16
Over three years 5,726,273.51
3-4 years 5,726,273.51
Total 82,512,114.75
(2) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Category Opening balance Closing balance
Accrual Collected or reversal Charge-off
Including important amount of bad debt provision collected or reversal in the period:
In RMB
99
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Enterprise Amount collected or reversal Collection way
(3) Account receivables actually charge-off during the reporting period
In RMB
Item Amount charge-off
Including major account receivables charge-off:
In RMB
Amount cause by
Procedure for
Enterprise Nature Amount charge-off Causes related transactions
charge-off
or not (Y/N)
Explanation on account receivable charge-off
(4) Top five account receivables collected by arrears party at ending balance
Enterprise Closing balance Ratio in total account receivable at
period-end
TruNorth World Cargo LLC 7,685,071.04 9.31%
F.C.F Fishery Co., Ltd. 7,658,595.09 9.28%
Hong Kong Luen Thai Seafood 5,290,628.45 6.41%
Japan Daoshui 4,910,922.56 5.95%
Shenzhen SZY Trading Co., Ltd. 4,373,553.02 5.30%
Total 29,918,770.16 36.26%
(5) Account receivables derecognized due to financial assets transfer
(6) Transfer the account receivable and assets & liabilities arising from further involvement
Other explanation:
6. Receivables financing
In RMB
Item Closing balance Opening balance
Change of receivables financing and fair value in the period
□Applicable √Not applicable
If the provision for bad debts of receivable financing is made in accordance with the general model of expected credit losses, please
refer to the disclosure of other account receivable to disclose related information about bad-debt provisions:
□Applicable √Not applicable
Other explanation:
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山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
7. Accounts paid in advance
(1) By account age
In RMB
Closing balance Opening balance
Account age
Amount Ratio Amount Ratio
Within one year 12,716,903.75 96.48% 22,072,783.23 98.58%
1-2 years 463,604.06 3.52% 223,289.45 1.00%
2-3 years 93,711.78 0.42%
Total 13,180,507.81 -- 22,389,784.46 --
Explanation on accounts paid in advance with over one year in age and reasons of un-settle:
(2) Top 5 account paid in advance collected by objects at ending balance
Enterprise Closing balance Ratio in total account paid in
advance at period-end
ZUNIBAL S.L 2,053,912.80 15.58%
Dongyi Sea Transportation Personal Company 1,842,233.57 13.98%
China Fisheries Association (access fishing fee) 1,573,833.24 11.94%
BOSHUN LOGISTICS LIMITED 762,719.92 5.79%
Ghana Ministry of Fisheries 659,245.16 5.00%
Total 6,891,944.69 52.29%
Other explanation:
8. Other account receivable
In RMB
Item Closing balance Opening balance
Other account receivable 6,972,749.22 5,529,723.80
Total 6,972,749.22 5,529,723.80
(1) Interest receivable
1) Category
In RMB
Item Closing balance Opening balance
2) Major overdue interest
In RMB
101
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Whether has impairment
Borrower Closing balance Overdue time Causes occurred and
determination basis
Other explanation:
3) Accrual of bad debt provision
□Applicable √Not applicable
(2) Dividend receivable
1) Category
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 Causes of failure for
Closing balance Account age occurred and
company) collection
determination basis
3) Accrual of bad debt provision
□Applicable √Not applicable
Other explanation:
(3) Other account receivable
1) By nature
In RMB
Nature Closing book balance Opening book balance
Export tax rebate receivable 3,595,050.74
Cash deposit 778.97 974,139.13
Insurance claims receivable 77,580.10
Intercourse funds and other 8,368,229.49 9,624,474.75
Total 12,041,639.30 10,598,613.88
2) Accrual of bad debt provision
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2019 5,068,890.08 5,068,890.08
102
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Balance of Jan. 1, 2019
—— —— —— ——
in the period
Balance on Jun. 30, 2019 5,068,890.08 5,068,890.08
Change of book balance of loss provision with amount has major changes in the period
□Applicable √Not applicable
By account age
In RMB
Account age Closing balance
Within one year (one year included) 6,651,923.72
Including within six months 5,556,260.23
Six months - one year 1,095,663.49
1-2 years 316,704.24
2-3 years 388,212.70
Over three years 4,684,798.64
3-4 years 4,684,798.64
Total 12,041,639.30
3) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Category Opening balance Closing balance
Accrual Collected or reversal
Bad debt provision 5,068,890.08 5,068,890.08
Total 5,068,890.08 5,068,890.08
Important amount of bad debt provision switch-back or collection in the period:
In RMB
Enterprise Amount switch-back or collection Collection way
4) Other account receivables actually charge-off during the reporting period
In RMB
Item Amount charge-off
Including major other account receivables charge-off:
In RMB
Amount cause by
Procedure for
Enterprise Other Nature Amount charge-off Causes related transactions
charge-off
or not (Y/N)
Other Explanation on account receivable charge-off
5) Top 5 other account receivable collected by arrears party at ending balance
103
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
In RMB
Proportion in total
other account Ending balance of
Enterprise Nature Closing balance Account age
receivables at bad debt provision
period-end
Export rebates Export rebates 3,595,050.74 Within six months 29.85%
Intercourse funds
Tai Lulun 809,272.83 Over three years 6.72% 809,272.83
and other
ALEX Employee loans 407,567.07 Within one year 3.38%
Daihatsu Intercourse funds 288,896.39 Over three years 2.40% 288,896.39
DIVING-SEAGULL Intercourse funds 207,072.50 Over three years 1.72% 207,072.50
Total -- 5,307,859.53 -- 44.08% 1,305,241.72
6) Account receivable involved government subsidies
In RMB
Time, amount and basis
Enterprise Government subsidies Closing 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:
9. Inventories
Whether implemented the new revenue standards
□Yes √No
(1) Category
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 156,114,446.85 156,114,446.85 135,309,542.43 135,309,542.43
Merchandise in
254,348,851.65 2,109,576.54 252,239,275.11 190,905,725.74 2,596,127.95 188,309,597.79
warehouse
Revolving
104,783.81 104,783.81 1,199,427.12 1,199,427.12
materials
Low value
256,113.74 256,113.74 764,872.41 764,872.41
consumables
Goods in transit 5,007,680.25 5,007,680.25
104
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Total 410,824,196.05 2,109,576.54 408,714,619.51 333,187,247.95 2,596,127.95 330,591,120.00
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 of inventories
In RMB
Current increased Current decreased
Item Opening balance Switch back or Closing balance
Accrual Other Other
charge-off
Merchandise in
2,596,127.95 3,302.88 489,854.29 2,109,576.54
warehouse
Total 2,596,127.95 3,302.88 489,854.29 2,109,576.54
(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
Item Amount
Other explanation:
10. Contract assets
In RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Book value of contract assets have major changes and causes:
In RMB
Item Amount changes Causes
If the provision for bad debts of contract asset is made in accordance with the general model of expected credit losses, please refer to
the disclosure of other account receivable to disclose related information about bad-debt provisions:
□Applicable √Not applicable
Accrual of impairment provision in the period
In RMB
Reversal/Charge-off in
Item Accrual in the period Switch-back in the period Causes
the period
Other explanation:
105
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
11. Assets held for sale
In RMB
Closing book Impairment Ending book Expected disposal Expected disposal
Item Fair value
balance provision value expenses time
Other explanation:
12. Non-current asset due within one year
In RMB
Item Closing balance Opening balance
Important creditors’ investment/Other creditors’ investment
In RMB
Closing balance Opening balance
Creditor's rights
Face value Coupon rate Actual rate Due date Face value Coupon rate Actual rate Due date
Other explanation:
13. Other current assets
Whether implemented the new revenue standards
□Yes √No
In RMB
Item Closing balance Opening balance
Input VAT ready for deduction 30,089,780.60 32,221,986.22
Income tax prepaid 88,480.55
Total 30,089,780.60 32,310,466.77
Other explanation:
14. Creditors’ investment
In RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Important creditors’ investment
In RMB
Closing balance Opening balance
Creditor's rights
Face value Coupon rate Actual rate Due date Face value Coupon rate Actual rate Due date
Accrual of impairment provision
106
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance of Jan. 1, 2019
—— —— —— ——
in the period
Change of book balance of loss provision with amount has major changes in the period
□Applicable √Not applicable
Other explanation:
15. Other creditors’ investment
In RMB
Cumulative
loss
Change of Cumulative impairment
Opening Accrued Closing
Item fair value in Cost changes of recognized in Note
balance interest balance
the period fair value other
comprehensi
ve income
Important other creditors’ investment
In RMB
Other creditors’ Closing balance Opening balance
investment Face value Coupon rate Actual rate Due date Face value Coupon rate Actual rate Due date
Accrual of impairment provision
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance of Jan. 1, 2019
—— —— —— ——
in the period
Change of book balance of loss provision with amount has major changes in the period
□Applicable √Not applicable
Other explanation:
107
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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
Impairment of bad debt provision
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance of Jan. 1, 2019
—— —— —— ——
in the period
Change of book balance of loss provision with amount has major changes in the period
□Applicable √Not applicable
(2) Long-term account receivable derecognized 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 investments
In RMB
Changes in the period (+,-)
Ending
Other Cash
Opening Investme Accrual Closing balance
The Additiona comprehe dividend
balance nt gains Other of balance of
invested l Capital nsive or profit
(Book recognize equity impairme Other (Book impairme
entity investmen reduction income announce
value) d under change nt value) nt
t adjustmen d to
equity provision provision
t issued
I. Joint venture
II. Associated enterprise
Other explanation
108
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
18. Other equity instrument investment
In RMB
Item Closing balance Opening balance
Itemized the non-tradable equity instrument investment in the period
In RMB
Causes of those
that designated
Retained earnings measured by fair Cause of retained
transfer from value and with its earnings transfer
Dividend income Cumulative
Item Cumulative gains other variation from other
recognized losses
comprehensive reckoned into comprehensive
income other income
comprehensive
income
Other explanation:
19. Other non-current financial assets
In RMB
Item Closing balance Opening balance
Other explanation:
20. Investment real estate
(1) Measured at cost
√Applicable □Not applicable
In RMB
Item House and building Land use rights Construction in progress Total
I. Original book value
1.Opening balance 47,701,971.19 47,701,971.19
2.Current increased 3,606,607.16 3,606,607.16
(1) Outsourcing
(2) Inventory\fixed
assets\construction in 3,606,607.16 3,606,607.16
process transfer-in
(3) Increased by
combination
109
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
3.Current decreased
(1) Disposal
(2) Other transfer-out
4.Closing balance 51,308,578.35 51,308,578.35
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 16,350,940.24 16,350,940.24
2.Current increased 647,001.60 647,001.60
(1) Accrual or
647,001.60 647,001.60
amortization
3.Current decreased
(1) Disposal
(2) Other transfer-out
4.Closing balance 16,997,941.84 16,997,941.84
III. Impairment provision
1.Opening balance 886,512.06 886,512.06
2.Current increased
(1) Accrual
3. Current decreased
(1) Disposal
(2) Other transfer-out
4.Closing balance 886,512.06 886,512.06
IV. Book value
1.Ending book value 33,424,124.45 33,424,124.45
2.Opening book value 30,464,518.89 30,464,518.89
(2) Measure on fair value
□Applicable √Not applicable
110
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(3) Investment real estate without property certificate completed
In RMB
Item Book value Reasons
Investment real estate 33,302,041.96 See the notes
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 RMB 54,221,197.05
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.
21. Fixed assets
In RMB
Item Closing balance Opening balance
Fixed assets 501,281,203.55 514,332,752.28
Total 501,281,203.55 514,332,752.28
(1) Fixed assets
In RMB
House and Vessel and netting Machine Transportation Furniture and
Item Total
building gear equipment equipment office equipment
I. Original book
value：
1.Opening
117,959,528.18 627,875,972.13 44,678,963.52 7,442,646.99 11,975,650.33 809,932,761.15
balance
2.Current
2,037.66 9,607,042.68 2,108,000.81 1,637,004.13 99,538.91 13,453,624.19
increased
(1)
9,260,338.56 2,107,911.19 1,599,879.60 98,923.07 13,067,052.42
Purchasing
(2)
Construction in
progress transfer-
in
(3) Increased
by combination
(4) 2,037.66 346,704.12 89.62 37,124.53 615.84 386,571.77
111
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Fluctuations in
exchange
3.Current
3,741,952.82 13,990.00 285,053.64 4,040,996.46
decreased
(1) Disposal
13,990.00 285,053.64 299,043.64
or scrapping
(2) Transfer to
investment real
3,741,952.82 3,741,952.82
estate and input
tax deduction
4.Closing
114,219,613.02 637,483,014.81 46,772,974.33 9,079,651.12 11,790,135.60 819,345,388.88
balance
II. Accumulative
depreciation
1.Opening
28,860,728.72 233,594,946.75 20,358,817.99 4,224,455.94 8,403,485.97 295,442,435.37
balance
2.Current
1,187,769.86 19,369,193.18 2,007,140.27 506,733.63 184,940.88 23,255,777.82
increased
(1) Accrual 1,187,769.86 19,369,193.18 2,007,140.27 506,733.63 184,940.88 23,255,777.82
3.Current
259,569.36 246,978.36 285,053.64 791,601.36
decreased
(1) Disposal
259,569.36 246,978.36 285,053.64 791,601.36
or scrapping
4.Closing
30,048,498.58 252,964,139.93 22,106,388.90 4,484,211.21 8,303,373.21 317,906,611.83
balance
III. Impairment
provision
1.Opening
157,573.50 157,573.50
balance
2.Current
increased
(1) Accrual
3.Current
decreased
(1) Disposal
112
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
or scrapping
4.Closing
157,573.50 157,573.50
balance
IV. Book value
1.Ending book
84,171,114.44 384,361,301.38 24,666,585.43 4,595,439.91 3,486,762.39 501,281,203.55
value
2.Opening
89,098,799.46 394,123,451.88 24,320,145.53 3,218,191.05 3,572,164.36 514,332,752.28
book value
(2) Temporary idle fixed assets
In RMB
Accumulated Impairment
Item Original book value Book value Note
depreciation provision
(3) Fixed assets leasing-in by financing lease
In RMB
Accumulated
Item Original book value Impairment provision Book value
depreciation
(4) Fixed assets leasing-out by operational lease
In RMB
Item Ending book value
(5) Fixed assets without property certificate obtained
In RMB
Item Book value Causes
Fixed assets 2,146,918.13 See the notes
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 RMB 54,221,197.05
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.
113
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(6) Disposal of fixed assets
In RMB
Item Closing balance Opening balance
Other explanation
22. Construction in progress
In RMB
Item Closing balance Opening balance
Construction in progress 17,528,453.31 11,073,476.37
Total 17,528,453.31 11,073,476.37
(1) Construction in progress
In RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Atlantic fencing 4,077,658.55 4,077,658.55 4,077,658.55 4,077,658.55
Building the
ultra-low
temperature long- 17,528,453.31 17,528,453.31 11,073,476.37 11,073,476.37
line fishing boat
Tai Xiang 11
Total 21,606,111.86 4,077,658.55 17,528,453.31 15,151,134.92 4,077,658.55 11,073,476.37
(2) Changes of major Construction in progress
In RMB
Accumul
Proporti Includin
ative
on of g:
Transfer Other amount
Item Opening Current Closing project Work interest Capitaliz Capital
Budget to fixed decreasin of
Name balance increased balance investme progress capitaliz ing rate resources
assets g interest
nt in ation in
capitaliz
budget Period
ation
Long-
line 16,000,0 11,073,4 6,454,97 17,528,4
100% Other
fishing 00.00 76.37 6.94 53.31
boat Tai
114
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Xiang 11
16,000,0 11,073,4 6,454,97 17,528,4
Total -- -- --
00.00 76.37 6.94 53.31
(3) Impairment provision of construction in process accrual in the Period
In RMB
Item Accrual in the period Accrual Causes
Other explanation
(4) Engineering material
In RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Other explanation:
23. Productive biological asset
(1) Measured by cost
□Applicable √Not applicable
(2) Measured by fair value
□Applicable √Not applicable
24. Oil and gas asset
□Applicable √Not applicable
25. Right-of-use asset
In RMB
Item Total
Other explanation:
115
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
26. Intangible assets
(1) Intangible assets
In RMB
Non-patented
Item Land use rights Patent right Computer software Total
technology
I. Original book
value
1.Opening
17,154,729.00 1,751,396.71 18,906,125.71
balance
2.Current
increased
(1)
Purchasing
(2) Internal
R&D
(3) Increased
by combination
3.Current
99,310.34 99,310.34
decreased
(1) Disposal
(2) Input tax
99,310.34 99,310.34
deduction
4.Closing
17,154,729.00 1,652,086.37 18,806,815.37
balance
II. Accumulated
amortization
1.Opening
4,837,642.49 403,106.40 5,240,748.89
balance
2.Current
191,935.08 130,280.81 322,215.89
increased
(1) Accrual 191,935.08 130,280.81 322,215.89
3.Current
decreased
(1) Disposal
116
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
4.Closing
5,029,577.57 533,387.21 5,562,964.78
balance
III. Impairment
provision
1.Opening
balance
2.Current
increased
(1) Accrual
3.Current
decreased
(1) Disposal
4.Closing
balance
IV. Book value
1.Ending book
12,125,151.43 1,118,699.16 13,243,850.59
value
2.Opening book
12,317,086.51 1,348,290.31 13,665,376.82
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
Item Book value Causes
Other explanation:
27. Expense on Research and Development
In RMB
Opening Closing
Item Current increased Current decreased
balance balance
Other explanation
117
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
28. Goodwill
(1) Goodwill Original book value
In RMB
The invested
entity of events
Opening balance Increase during the period Decrease during this period Closing balance
with goodwill
resulted
(2) Goodwill Impairment provision
In RMB
The invested
entity of events
Opening balance Increase during the period Decrease during this period Closing balance
with goodwill
resulted
Relevant information about the assets group or portfolio goodwill included
Instructions for goodwill impairments test process and key parameters (such as the forecast period growth rate, stable period growth
rate, profit rate, discount rate, and forecast period when estimating the present value of the future cash flow), and the method of
confirming the impairment loss of goodwill:
Impact of the goodwill impairment test
Other explanation
29. Long-term prepaid expenses
In RMB
Item Opening balance Current increased Amortized in Period Other decreased Closing balance
Decoration fee 524,811.27 148,462.80 376,348.47
Total 524,811.27 148,462.80 376,348.47
Other explanation
30. Deferred income tax asset /Deferred income tax liabilities
(1) Deferred income tax assets without offset
In RMB
Closing balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
118
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Asset impairment
904,653.01 226,163.26 904,653.01 226,163.26
provision
Assets-related
government subsidy with 6,800,000.00 1,700,000.00 6,800,000.00 1,700,000.00
taxes paid
Total 7,704,653.01 1,926,163.26 7,704,653.01 1,926,163.26
(2) Deferred income tax liabilities without offset
In RMB
Closing balance Opening balance
Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
(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
Item 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 income tax
1,926,163.26 1,926,163.26
asset
(4) Deferred income tax asset without recognized
In RMB
Item Closing balance Opening balance
Deductible temporary differences-Bad debt
13,844,830.08 13,844,830.08
provision
Deductible temporary differences-
Provision for price fall-down of 2,109,576.54 2,596,127.95
inventories
Deductible temporary differences-
Impairment provision of construction in 4,077,658.55 4,077,658.55
progress
Deductible loss 2,186,759.26 2,186,759.26
Total 22,218,824.43 22,705,375.84
119
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(5) Deductible losses of deferred income tax asset without confirmed will expired in later year
In RMB
Year Closing amount Opening amount Note
2021 2,186,759.26 2,186,759.26
Total 2,186,759.26 2,186,759.26 --
Other explanation:
31. Other non-current asset
Whether implemented the new revenue standards
□Yes √No
In RMB
Item Closing balance Opening balance
Account for lands paid in advance 2,000,000.00 2,000,000.00
Account paid in advance of cargo ship 6,223,985.00 1,059,416.20
Total 8,223,985.00 3,059,416.20
Other explanation:
32. Short-term loans
(1) Category
In RMB
Item Closing balance Opening balance
Mortgage loan 28,000,000.00 36,000,000.00
Credit loan 62,310,561.49 42,352,320.05
Total 90,310,561.49 78,352,320.05
Explanation on category of short-term loans:
(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
Borrower Closing balance Loans rate Overdue time Overdue interest rate
Other explanation:
120
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
33. Trading financial liability
In RMB
Item Closing balance Opening balance
Including:
Including:
Other explanation:
34. Derivative financial liability
In RMB
Item Closing balance Opening balance
Other explanation:
35. Notes payable
In RMB
Category Closing balance Opening balance
Totally Yuan due note payable are paid at period-end.
36. Accounts payable
(1) Accounts payable
In RMB
Item Closing balance Opening balance
Within one year (one year included) 111,227,028.97 101,802,514.32
Over one year 4,823,389.84 6,569,085.34
Total 116,050,418.81 108,371,599.66
(2) Major account payable over one year
In RMB
Item Closing balance Reasons of un-paid or carry-over
Other explanation:
37. Accounts received in advance
Whether implemented the new revenue standards
□Yes √No
121
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(1) Accounts received in advance
In RMB
Item Closing balance Opening balance
Within one year (one year included) 35,968,223.55 16,738,922.45
Over one year 406,622.92 822,406.56
Total 36,374,846.47 17,561,329.01
(2) Major account received in advance with over one year age
In RMB
Item 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
Item Amount
Other explanation:
38. Contract liability
In RMB
Item Closing balance Opening balance
Book value has major changes in the period and causes
In RMB
Item Amount changes Causes
39. Wage payable
(1) Wage payable
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
I. Short-term
43,969,399.58 58,991,204.04 71,100,746.52 31,859,857.10
compensation
II. Post-employment
welfare- defined 39.60 8,977,343.29 4,379,828.79 4,597,554.10
contribution plans
III. Dismissal welfare 36,077.22 27,562.84 8,514.38
122
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
IV. Other welfare due
10,547.56 10,547.56
within one year
Total 44,016,063.96 67,968,547.33 75,508,138.15 36,476,473.14
(2) Short-term compensation
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
1. Wages,bonuses,allowances
42,512,492.76 52,264,887.41 64,412,829.81 30,364,550.36
andsubsidies
2. Welfare for workers
2,261,164.04 2,261,164.04
and staff
3. Social insurance 2,437,276.29 2,437,276.29
Including: Medical
1,983,153.67 1,983,153.67
insurance
Work injury
135,131.00 135,131.00
insurance
Maternity
318,991.62 318,991.62
insurance
4. Housing accumulation
1,760,751.11 1,755,261.11 5,490.00
fund
5. Labor union
expenditure and
1,456,906.82 267,125.19 234,215.27 1,489,816.74
personnel education
expense
Total 43,969,399.58 58,991,204.04 71,100,746.52 31,859,857.10
(3) Defined contribution plans
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
1. Basic endowment
39.60 4,042,512.37 4,042,512.31 39.66
insurance
2. Unemployment
163,194.24 163,194.24
insurance
3. Enterprise annuity 4,597,514.44 4,597,514.44
4. Other 174,122.24 174,122.24
123
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Total 39.60 8,977,343.29 4,379,828.79 4,597,554.10
Other explanation:
40. Taxes payable
In RMB
Item Closing balance Opening balance
VAT 83,164.86 271,436.90
Corporate income ax 786,626.41 1,461,511.10
Individual income tax 57,234.57 148,253.52
Urban maintenance and construction tax 3,810.60 8,627.10
House property tax 148,780.71 247,500.87
Land use tax 133,862.44 157,965.18
Educational additional 2,721.87 3,697.33
Other tax 690,591.81 542,402.90
Total 1,906,793.27 2,841,394.90
Other explanation:
41. Other accounts payable
In RMB
Item Closing balance Opening balance
Interest payable 559,642.01 245,808.33
Other accounts payable 11,487,560.64 6,797,885.62
Total 12,047,202.65 7,043,693.95
(1) Interest payable
In RMB
Item Closing balance Opening balance
Interest payable for short-term loans 559,642.01 245,808.33
Total 559,642.01 245,808.33
Interest overdue without paid:
In RMB
Borrower Amount overdue Causes
Other explanation:
124
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(2) Dividend payable
In RMB
Item Closing balance Opening balance
Other explanation, including dividend payable unpaid over one year, and explain the reasons:
(3) Other accounts payable
1) By nature
In RMB
Item Closing balance Opening balance
Cash deposit 2,855,753.88 338,541.67
Employee cost 1,325,632.62 926,783.09
Other 7,306,174.14 5,532,560.86
Total 11,487,560.64 6,797,885.62
2) Significant other payable with over one year age
In RMB
Item Closing balance Reasons of un-paid or carry-over
Other explanation
42. Liability held for sale
In RMB
Item Closing balance Opening balance
Other explanation:
43. Non-current liabilities due within one year
In RMB
Item Closing balance Opening balance
Deferred income due within one year 433,292.74 866,585.48
Total 433,292.74 866,585.48
Other explanation:
44. Other current liabilities
Whether implemented the new revenue standards
□Yes √No
In RMB
125
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Item Closing balance Opening balance
Changes of short-term bonds payable:
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) Category
In RMB
Item Closing balance Opening balance
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
126
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
instrument
Explanations on basis of other financial instrument classified into financial liabilities
Other explanation
47. Lease liability
In RMB
Item Closing balance Opening balance
Other explanation
48. Long-term account payable
In RMB
Item Closing balance Opening balance
(1) By nature
In RMB
Item Closing balance Opening balance
Other explanation:
(2) Special payable
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance Causes
period period
Other explanation:
49. Long-term wages payable
(1) Long-term wages payable
In RMB
Item Closing balance Opening balance
I. Post-employment welfare- net liability of
482,769.43 482,769.43
defined contribution plans
IV. Other long-term wages payable 1,030,790.91 1,030,790.91
Total 1,513,560.34 1,513,560.34
127
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(2) Change of defined benefit plan
Present value of the obligation of defined benefit plan:
In RMB
Item Current Period Last Period
Scheme assets:
In RMB
Item Current Period Last Period
Net liability(assets) of the defined benefit plan
In RMB
Item 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:
50. Accrual liability
Whether implemented the new revenue standards
□Yes √No
In RMB
Item Closing balance Opening balance Causes
Other explanation, including relevant important hypothesis and estimation:
51. Deferred income
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance Causes
period period
Government
Government subsidy 8,839,283.66 1,000,000.00 9,839,283.66 subsidies related to
assets
Total 8,839,283.66 1,000,000.00 9,839,283.66 --
Item with government subsidy concerned:
In RMB
Amount Amount
Subsidy Assets-
reckoned into reckoned into Cost
Opening increase Other Closing related/
Liability non- non- reduction in
balance during this changes balance Income-
operation operation the period
period related
revenue in revenue in
128
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
the Period the period
Construction Assets-
8,191,363.02 1,000,000.00 9,191,363.02
special fund related
Financial
Assets-
ship-building 647,920.64 647,920.64
related
discount
Other explanation:
52. Other non-current liabilities
Whether implemented the new revenue standards
□Yes √No
In RMB
Item 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:
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:
129
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
55. Capital reserve
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
Capital premium (equity
189,093,492.79 189,093,492.79
premium)
Other capital reserve 94,961,504.96 94,961,504.96
Total 284,054,997.75 284,054,997.75
Other explanation, including changes and reasons of changes:
56. Treasury stock
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
Other explanation, including changes and reasons for changes:
57. Other comprehensive income
In RMB
Current Period
Less:
Less: written written in
in other other
comprehensi comprehe
ve income in nsive
Account
previous income in Belong to Belong to
Opening before Closing
Item period and previous Less : income parent minority
balance income tax balance
carried period and tax expense company shareholders
in the
forward to carried after tax after tax
period
gains and forward to
losses in retained
current earnings in
period current
period
II. Other comprehensive income -
items which will be reclassified -675,743.05 -44,875.62 -35,906.51 -8,969.11 711,649.
subsequently to profit or loss 56
Differences of conversion -
-675,743.05 -44,875.62 -35,906.51 -8,969.11
of foreign currency financial 711,649.
130
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
statements 56
-
Total other comprehensive income -675,743.05 -44,875.62 -35,906.51 -8,969.11 711,649.
56
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
Item Opening balance Closing balance
period period
Other explanation, including changes and reasons for changes:
59. Surplus reserve
In RMB
Increase during the Decrease during this
Item 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
Item Current period Last period
Retained profits at the end of last year before
232,148,801.35 141,867,217.06
adjustment
Retained profits at the beginning of the period
232,148,801.35 141,867,217.06
after adjustment
Add: net profit attributable to owners of parent
28,420,094.20 90,281,584.29
company
Retained profit at period-end 260,568,895.55 232,148,801.35
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
131
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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
Item
Income Cost Income Cost
Main operating 511,543,286.14 437,069,263.62 437,116,744.01 373,729,371.53
Other operating 3,925,373.00 797,783.51 3,206,032.96 768,677.02
Total 515,468,659.14 437,867,047.13 440,322,776.97 374,498,048.55
Whether implemented the new revenue standards
□Yes √No
Other explanation
62. Tax and surcharges
In RMB
Item Current Period Last Period
Urban maintenance and construction tax 231,486.42 139,594.98
Educational surtax 99,208.47 61,569.29
House property tax 635,618.75 607,009.39
Land use tax 267,724.88 218,430.35
Vehicle and vessel tax 25,967.68 27,829.36
Stamp tax 142,593.66 231,386.95
Local education surcharge 66,138.99 38,141.42
Local water conservancy construction fund 16,534.75 9,542.49
Total 1,485,273.60 1,333,504.23
Other explanation:
63. Sales expenses
In RMB
Item Current Period Last Period
Payroll payable 1,132,222.24 852,719.42
Port surcharge 2,817,934.66 2,928,162.72
Freight and miscellaneous charges 5,754,382.37 8,957,747.30
Agency fee 1,312,910.64 255,376.76
132
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Travelling charge 288,835.76 153,803.20
Business publicity expenses 345,900.76 105,953.82
Terminal charges 6,571.71
Other 337,627.78 1,589,461.18
Total 11,996,385.92 14,843,224.40
Other explanation:
64. Administrative expenses
In RMB
Item Current Period Last Period
Payroll payable 18,665,326.51 11,111,601.32
Depreciation 621,554.93 2,405,402.31
Travelling charge 1,078,933.34 1,309,331.01
Business entertainment expenses 582,445.48 556,056.12
Vehicles charge 559,567.32 265,734.24
Office allowance 267,236.85 204,880.72
Property water and electricity 547,474.71 476,256.21
Amortization of intangible assets 321,764.63 276,317.60
Intermediary service fee 1,380,153.61 1,236,913.74
Other 5,174,758.09 5,203,126.39
Total 29,199,215.47 23,045,619.66
Other explanation:
65. R&D expenses
In RMB
Item Current Period Last Period
Other explanation:
66. Financial expenses
In RMB
Item Current Period Last Period
Interest costs 2,382,040.26 3,082,690.15
Less: interest income 541,927.87 174,711.83
Exchange loss 608,195.72 312,092.65
133
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Handing expense 635,318.65 403,277.17
Other expense 69,039.82 66,640.42
Total 3,152,666.58 3,689,988.56
Other explanation:
67. Other income
In RMB
Sources Current Period Last Period
Financial ship-building discount 14,188.00 14,188.00
Government subsidy 419,104.74 419,104.74
Total 433,292.74 433,292.74
68. Investment income
In RMB
Item Current Period Last Period
Other explanation:
69. Net exposure hedge gains
In RMB
Item Current Period Last Period
Other explanation:
70. Income from change of fair value
In RMB
Sources Current Period Last Period
Other explanation:
71. Credit impairment loss
In RMB
Item Current Period Last Period
Other explanation:
72. Assets impairment loss
Whether implemented the new revenue standards
134
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
□Yes √No
In RMB
Item Current Period Last Period
I. Bad debt losses 153,441.46
II. Provision for falling price of inventory -3,302.88 -2,053.90
Total -3,302.88 151,387.56
Other explanation:
73. Income from assets disposal
In RMB
Sources Current Period Last Period
Gains/losses of fixed assets disposal -1,399.00 -18,990.79
Total -1,399.00 -18,990.79
74. Non-operating income
In RMB
Amount reckoned in current
Item Current Period Last Period
non-recurring gains/losses
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)
Other explanation:
75. Non-operating expenses
In RMB
Amount reckoned in current
Item Current Period Last Period
non-recurring gains/losses
Loss of non-current assets
3,772.45
scrape
Other expense 24,200.00 423,335.93
Total 24,200.00 427,108.38
Other explanation:
135
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
76. Income tax expenses
(1) Statement of income tax expense
In RMB
Item Current Period Last Period
Current income tax expense 662,058.68 1,922,681.98
Total 662,058.68 1,922,681.98
(2) Adjustment on accounting profit and income tax expenses
In RMB
Item Current Period
Total profit 32,172,461.30
Income tax based on statutory/applicable rate 8,043,115.33
Impact on different tax rate applicable for subsidiary -7,381,056.65
Income tax expense 662,058.68
Other explanation
77. Other comprehensive income
See Note 57.
78. Items of cash flow statement
(1) Other cash received in relation to operation activities
In RMB
Item Current Period Last Period
Government subsidy and other non-
1,000,000.00
operating income
Cash deposit for L/C 360,798.05
Intercourse funds and other 21,901,142.01 24,176,956.47
Total 23,261,940.06 24,176,956.47
Explanation on other cash received in relation to operation activities:
(2) Other cash paid in relation to operation activities
In RMB
Item Current Period Last Period
136
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Expenses of management cash paid 19,099,534.64 3,704,943.53
Sales expenses paid in cash 2,354,341.12 8,960,979.71
Cash deposit for L/C 4,655,500.00
Intercourse funds and other 47,194,774.58 51,720,751.32
Total 73,304,150.34 64,386,674.56
Explanation on other cash paid in relation to operation activities:
(3) Cash received from other investment activities
In RMB
Item Current Period Last Period
Explanation on cash received from other investment activities
(4) Cash paid related with investment activities
In RMB
Item Current Period Last Period
Explanation on Cash paid related with investment activities:
(5) Other cash received in relation to financing activities
In RMB
Item Current Period Last Period
Explanation on other cash received in relation to financing activities:
(6) Other cash paid related with financing activities
In RMB
Item Current Period Last Period
Explanation on other cash paid related with financing activities:
79. 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 31,510,402.62 21,128,290.72
137
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Add: Asset impairment provision 3,302.88 -151,602.06
Depreciation of fixed assets, consumption of
oil assets and depreciation of productive 23,902,779.42 18,855,673.47
biology assets
Amortization of intangible assets 322,215.89 276,768.86
Amortization of long-term retained expense 148,462.80 106,796.10
Loss from disposal of fixed assets, intangible
assets and other long-term assets(gain is 1,399.00 18,990.79
listed with “-”)
Financial expenses (gain is listed with “-”) 2,382,040.26 3,689,988.56
Decrease of deferred income tax assets
-1,700,000.00
(increase is listed with “-”)
Decrease of inventory (increase is listed with
-78,123,499.51 -60,067,293.20
“-”)
Decrease of operating receivable accounts
-7,409,603.52 8,879,176.83
(increase is listed with “-”)
Increase of operating payable accounts
23,021,652.86 30,777,822.24
(decrease is listed with “-”)
Net cash flow arising from operating
-4,240,847.30 21,814,612.31
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 171,819,949.08 150,574,179.21
Less: Balance of cash equivalent at year-
182,767,125.48 147,067,351.82
begin
Net increasing of cash and cash equivalents -10,947,176.40 3,506,827.39
(2) Net cash paid for obtaining subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
138
山东省中鲁远洋渔业股份有限公司 2019 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 171,819,949.08 182,767,125.48
Including: Cash on hand 664,425.27 1,213,325.43
Bank deposit available for payment
171,155,523.81 181,553,800.05
at any time
III. Balance of cash and cash equivalent at
171,819,949.08 182,767,125.48
period-end
Other explanation:
80. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period:
81. Assets with ownership or use right restricted
In RMB
Item Ending book value Restriction reasons
Monetary fund 685,948.08 Cash deposit for L/C
Fixed assets 67,038,146.78 Loan mortgage
Intangible assets 12,125,151.43 Loan mortgage
Total 79,849,246.29 --
Other explanation:
82. Item of foreign currency
(1) Item of foreign currency
In RMB
139
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Closing balance of foreign
Item Rate of conversion Ending RMB balance converted
currency
Monetary fund -- -- 111,713,178.33
Including: USD 14,468,351.51 6.8747 99,465,576.13
EUR 533,504.47 7.8170 4,170,404.44
HKD
JPY 48,046,291.00 0.063816 3,066,122.11
XOF 424,000.00 0.01355 5,745.20
CEDI 3,829,047.17 1.3072 5,005,330.46
Account receivable -- -- 68,197,598.97
Including: USD 7,463,606.25 6.8747 51,310,053.89
EUR
HKD
JPY 230,818,982.74 0.063816 14,729,944.20
CEDI 1,650,551.47 1.3072 2,157,600.88
Long-term loans -- --
Including: USD
EUR
HKD
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
Book-keeping
Major foreign operation entity Foreign main operation place Basis
currency
HABITAT INTERNATIONAL Panama CNY The economic
CORPORATION environment in the
operation sites
LAIF FISHERIES COMPANY Ghana USD The economic
LIMITED environment in the
operation sites
YAW ADDO FISHERIES COMPANY Ghana USD The economic
LIMITED environment in the
operation sites
140
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
ZHONG GHA FOODS COMPANY Ghana USD The economic
LIMITED environment in the
operation sites
AFRICA STAR FISHERIES LIMITED Ghana USD The economic
environment in the
operation sites
83. Hedging
Disclosed hedging items and relevant hedging instrument based on hedging’s category, disclosed qualitative and quantitative
information for the arbitrage risks:
84. Government subsidy
(1) Government subsidy
In RMB
Amount reckoned into current
Category Amount Item presented
gain/loss
Special funds for cold chain
1,000,000.00 Deferred income 0.00
logistic
(2) Government subsidy refund
□Applicable √Not applicable
Other explanation:
85. Other
VIII. Changes of consolidation scope
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.
141
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Shandong
Zhonglu Oceanic
Yantai Shandong Yantai Shandong Food processing 100.00% Investment
(Yantai) Foods
Co., Ltd.
Shandong
Zhonglu Haiyan Qingdao Qingdao
Pelagic fishing 59.05% Investment
Deep-sea Fishery Shandong Shandong
Co., Ltd
HABITAT
INTERNATION Refrigerated
Panama Panama 100.00% Investment
AL transport
CORPORATION
LAIF
FISHERIES
Ghana Ghana Pelagic fishing 100.00% Investment
COMPANY
LIMITED
AFRICA STAR
FISHERIES Ghana Ghana Pelagic fishing 100.00% Investment
LIMITED
ZHONG GHA
FOODS
Ghana Ghana Pelagic fishing 100.00% Investment
COMPANY
LIMITED
Shandong
Zhonglu Ocean Refrigeration
Yantai Shandong Yantai Shandong 100.00% Investment
Refrigerated Co., service
Ltd.
YAW ADDO
Ghana Ghana Pelagic fishing 经营租赁
FISHERIES
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
Share-holding ratio of Gains/losses attributable Dividend announced to Ending equity of
Subsidiary
minority to minority in the Period distribute for minority in minority
142
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
the Period
Shandong Zhonglu
Haiyan Deep-sea Fishery 40.95% 3,090,308.42 143,455,144.18
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 liabilities assets assets liability liabilities
assets liability assets liability
Shandon
g
Zhonglu
232,848, 248,021, 480,870, 129,926, 647,920. 130,574, 205,643, 246,339, 451,983, 108,563, 647,920. 109,211,
Haiyan
908.48 521.28 429.76 380.56 64 301.20 783.93 332.14 116.07 704.98 64 625.62
Deep-sea
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
101,916,145. 13,225,049.3 73,754,521.8
Haiyan Deep- 7,546,540.71 7,524,638.11 -3,598,555.54 -3,622,493.79 -2,244,328.09
57 8 2
sea 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:
143
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
2. Equity in structured entities not included in the consolidated financial statements
Note of structured entities not included in the consolidated financial statements:
3. 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 account payable 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
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. Related party and related transactions
1. Parent company of the enterprise
Share-holding ratio
Voting right ratio on
Parent company Registered place Business nature Registered capital on the enterprise for
the enterprise
parent company
Shandong State- Investment and
Jinan Shandong 4500 million Yuan 47.25% 47.25%
owned Assets management,
144
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Investment Holding management and
Company Limited operation of assets,
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”
3. Joint ventures and associated enterprise of the Company
Found more in Note.
Other joint venture and associated enterprise that have related transaction with the Company in the Period or occurred in previous
period
Joint venture and associated enterprise Relationship with the Company
Other explanation
4. Other related party
Other related party Relationship with the Enterprise
Inspur General Software Co., Ltd. Control by same parent company
Other explanation
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Whether over the
Trading limit
Related party Content Current Period approved limited or Last Period
approved
not
Goods sold/labor service providing
In RMB
Related party Content Current Period Last Period
Explanation on goods purchasing, labor service providing and receiving
145
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(2) Related trusteeship management/contracts and entrusted management/outsourcing
Statement of trusteeship management/contract:
In RMB
Managed
Managed
earnings
Client/Contract- Entrusting Trustee/assets 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
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)
Explanation on related guarantee
146
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(5) Related party’s fund loan
In RMB
Related party Fund loan Start End Note
Borrowing
Lending
(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
Item Current Period Last Period
Total 596,225.56 563,426.00
(8) Other related transactions
6. Receivable/payable items of related parties
(1) Receivable item
In RMB
Closing balance Opening balance
Item Name Related party
Book balance Bad debt provision Book balance Bad debt provision
(2) Payable item
In RMB
Item Name Related party Closing book balance Opening book balance
Inspur General Software Co.,
Other accounts payable 0.00 16,024.00
Ltd.
147
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
7. Commitments of related party
8. Other
XII. 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
4. Amendment and termination of the share-based payment
5. Other
XIII. Commitment or contingency
1. Important commitment
Important commitment on balance sheet date
No commitments that need to released ended as the reporting period
2. Contingency
(1) Contingency on balance sheet date
(2) If the Company has no contingency need to disclosed, explain reasons
The Company has no important contingency that need to disclosed
3. Other
XIV. Event occurring after balance sheet date
1. Important non-adjusting events
In RMB
148
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Impact on financial status and Reasons of unable to estimated
Item Content
operation results the impact
2. Profit distribution
In RMB
3. Sales return
4. Other explanation on events after balance sheet date
No events after balance sheet date need to released up to reporting period
XV. 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
In order to guarantee and improve the post-retirement treatment level of employees, mobilize the enthusiasm of
employees, establish a long-term incentive mechanism for talents, enhance the cohesiveness, and promote the
healthy and sustainable development, in accordance with the Labor Law of the People's Republic of China
(Presidential Decree of the People's Republic of China No. 28), Enterprise Annuity Measures (Human Resources
and Social Security Department Decree No. 36) and other laws, regulations and policies, Shandong Zhonglu
Oceanic Fisheries Co., Ltd. decided to establish the enterprise annuity system under the framework of the Enterprise
149
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Annuity Scheme of Shandong Province State-owned Assets Investment Holdings Co., Ltd., and the enterprise
annuity system has been implemented by combining with the actual situation of the Company.
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
6. Segment information
(1) Determination basis and accounting policy for segment
Main operation of the Company including pelagic fishing, cold storage processing trade of aquatic products,
vessel leasing and other operations. Segment disclosure are released by the business nature.
(2) Financial information of the segment
In RMB
Cold storage
processing trade Offset between
Item Pelagic fishing Vessel leasing Other Total
of aquatic segment
products
I. Main operating
193,377,962.74 48,054,106.81 337,020,105.17 364,318.19 -67,273,206.77 511,543,286.14
income
II. Main
151,208,180.27 33,571,136.25 319,330,064.86 233,089.01 -67,273,206.77 437,069,263.62
operating cost
III. Assets
3,302.88 3,302.88
impairment loss
IV. Depreciation
15,081,962.19 4,320,820.35 3,315,860.17 1,654,815.40 24,373,458.11
and amortization
V. Total profit 21,750,448.28 11,475,565.21 7,531,752.11 -8,585,304.30 32,172,461.30
VI. Income tax 229,058.68 433,000.00 662,058.68
VII. Net profit 21,750,448.28 11,246,506.53 7,098,752.11 -8,585,304.30 31,510,402.62
VIII. Total assets 782,873,628.91 288,788,841.15 457,817,966.38 164,911,782.56 -414,093,014.32 1,280,299,204.68
IX. Total liability 239,190,424.40 124,676,808.38 242,799,007.10 97,409,553.35 -399,123,360.66 304,952,432.57
150
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
(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
No other important events need to released except for the above mentioned
XVI. Principle notes of financial statements of parent company
1. Account receivable
(1) Category
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Including:
Account receivable
with bad debt 12,420,5 5,737,78 6,682,718 10,378,63 5,737,786 4,640,846.2
100.00% 44.86% 100.00% 55.28%
provision accrual by 04.62 6.29 .33 2.53 .29 4
portfolio
Including:
12,420,5 5,737,78 6,682,718 10,378,63 5,737,786 4,640,846.2
Total 100.00% 44.86% 100.00% 55.28%
04.62 6.29 .33 2.53 .29 4
Accrual bad debt provision on single basis:
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Accrual bad debt provision on portfolio
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio
Accrual of bad debt provision
12,420,504.62 5,737,786.29 46.20%
by portfolio
151
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Total 12,420,504.62 5,737,786.29 --
Explanation on portfolio basis:
Accrual bad debt provision on portfolio
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio basis:
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses, please
refer to the disclosure of other account receivable to disclose related information about bad-debt provisions:
□Applicable √Not applicable
By account age
In RMB
Account age Closing balance
Within one year (one year included) 6,731,486.61
Within six months 5,760,935.23
6 months -12 months 970,551.38
Over three years 5,689,018.01
3-4 years 5,689,018.01
Total 12,420,504.62
(2) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Category Opening balance Closing balance
Accrual Collected or reversal Charge-off
Accrual of bad debt
provision by 5,737,786.29 5,737,786.29
portfolio
Total 5,737,786.29 5,737,786.29
Including important amount of bad debt provision collected or reversal in the period:
In RMB
Enterprise Amount collected or reversal Collection way
(3) Account receivables actually charge-off during the reporting period
In RMB
152
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Item Amount charge-off
Including major account receivables charge-off:
In RMB
Amount cause by
Procedure for
Enterprise Nature Amount charge-off Causes related transactions
charge-off
or not (Y/N)
Explanation on account receivable charge-off
(4) Top five account receivables collected by arrears party at ending balance
Enterprise Closing balance Ratio in total Ending balance of bad
account debt provision
receivable at
period-end
Shandong Zhonglu Oceanic (Yantai) Foods Co., 4,888,798.00 39.36%
Ltd.
PANDA 3,600,962.12 28.99% 3,600,962.12
COSMO SEAFOODS COMPANY LTD 872,137.23 7.02% 872,137.23
MARGARET 628,847.44 5.06% 628,847.44
SITC Company 430,625.10 3.47% 430,625.10
Total 10,421,369.89 83.90% 5,532,571.89
(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 account receivable
In RMB
Item Closing balance Opening balance
Dividend receivable 91,841,262.03 92,964,132.10
Other account receivable 93,005,311.39 81,168,216.04
Total 184,846,573.42 174,132,348.14
(1) Interest receivable
1) Category
In RMB
153
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Item Closing balance Opening balance
2) important overdue interest
Whether has impairment
Borrower Closing balance Overdue time Causes occurred and
determination basis
Other explanation:
3) Accrual of bad debt provision
□Applicable √Not applicable
(2) Dividend receivable
1) Category
In RMB
Item (or invested company) Closing balance Opening balance
Shandong Zhonglu Oceanic (Yantai) Foods
5,631,113.11 5,631,113.11
Co., Ltd.
HABITAT INTERNATIONAL
86,210,148.92 87,333,018.99
CORPORATION
Total 91,841,262.03 92,964,132.10
2) Major dividend receivable with over one year aged
In RMB
Whether has impairment
Item (or invested Causes of failure for
Closing balance Account age occurred and
company) collection
determination basis
3) Accrual of bad debt provision
□Applicable √Not applicable
Other explanation:
(3) Other account receivable
1) By nature
In RMB
Nature Closing book balance Opening book balance
Intercourse funds between internal 92,400,488.27 80,308,190.23
Petty cash and other 4,320,689.45 4,575,892.14
Total 96,721,177.72 84,884,082.37
2) Accrual of bad debt provision
In RMB
154
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2019 3,715,866.33 3,715,866.33
Balance of Jan. 1, 2019
—— —— —— ——
in the period
Balance on Jun. 30, 2019 3,715,866.33 3,715,866.33
Change of book balance of loss provision with amount has major changes in the period
□Applicable √Not applicable
By account age
In RMB
Account age Closing balance
Within one year (one year included) 69,876,733.37
Within six months 69,870,839.37
6 months -12 months 5,894.00
1-2 years 1,596,596.06
2-3 years 125,641.66
Over three years 25,122,206.63
3-4 years 25,122,206.63
Total 96,721,177.72
3) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Category Opening balance Closing balance
Accrual Collected or reversal
Other Bad debt provision
3,715,866.33 3,715,866.33
of account receivable
Total 3,715,866.33 3,715,866.33
Important amount of bad debt provision switch-back or collection in the period:
In RMB
Enterprise Amount switch-back or collection Collection way
4) Other account receivables actually charge-off during the reporting period
In RMB
Item Amount charge-off
Including major other account receivables charge-off:
155
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
In RMB
Amount cause by
Procedure for
Enterprise Other Nature Amount charge-off Causes related transactions
charge-off
or not (Y/N)
Other Explanation on account receivable charge-off
5) Top 5 other account receivable collected by arrears party at ending balance
In RMB
Proportion in total
other account Ending balance of
Enterprise Nature Closing balance Account age
receivables at period- bad debt provision
end
LAIF FISHERIES
COMPANY Intercourse funds 21,435,065.97 Within one year 22.16%
LIMITED
AFRICA STAR
FISHERIES Intercourse funds 14,664,847.95 Within one year 15.16%
LIMITED
Shandong Zhonglu
Fishery Shipping Co., Intercourse funds 10,308,200.00 Within one year 10.66%
Ltd.
ZHONG GHA
FOODS COMPANY Intercourse funds 8,343,826.65 Within one year 8.63%
LIMITED
Shandong Zhonglu
Oceanic (Yantai) Intercourse funds 8,000,000.00 Within one year 8.27%
Foods Co., Ltd.
Total -- 62,751,940.57 -- 64.88%
6) Account receivable involved government subsidies
In RMB
Time, amount and basis
Enterprise Government subsidies Closing 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 investments
In RMB
Item Closing balance Opening balance
156
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for
232,189,455.23 232,189,455.23 232,189,455.23 232,189,455.23
subsidiary
Total 232,189,455.23 232,189,455.23 232,189,455.23 232,189,455.23
(1) Investment for subsidiary
In RMB
Changes in the period (+,-)
Opening Ending balance
The invested Accrual of Closing balance
balance (Book Additional Capital of impairment
entity impairment Other (Book value)
value) investment reduction provision
provision
HABITAT
INTERNATION 12,476,145.60 12,476,145.60
AL CORP.
Shandong
Zhonglu Fishery
22,869,513.38 22,869,513.38
Shipping Co.,
Ltd.
Shandong
Zhonglu
Oceanic 55,448,185.24 55,448,185.24
(Yantai) Food
Co., Ltd.
Shandong
Zhonglu Haiyan 141,395,611.0
141,395,611.01
Deep-sea 1
Fishery Co., Ltd
232,189,455.2
Total 232,189,455.23
3
(2) Investment for associates and joint venture
In RMB
Changes in the period (+,-) Ending
Opening Investme Other Cash Accrual Closing balance
Additiona
balance nt gains comprehe Other dividend of balance of
Company l Capital
(Book recognize nsive equity or profit impairme Other (Book impairme
investmen reduction
value) d under income change announce nt value) nt
t
equity adjustmen d to provision provision
157
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
t issued
I. Joint venture
II. Associated enterprise
(3) Other explanation
4. Operating income and cost
In RMB
Current Period Last Period
Item
Income Cost Income Cost
Main operating 88,187,164.39 62,457,990.11 77,834,059.12 60,182,495.95
Other operating 2,331,328.73 797,783.51 2,054,655.24 768,677.02
Total 90,518,493.12 63,255,773.62 79,888,714.36 60,951,172.97
Whether implemented the new revenue standards
□Yes √No
Other explanation:
5. Investment income
In RMB
Item Current Period Last Period
6. Other
XVII. Supplementary Information
1. Current non-recurring gains/losses
√Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-
-1,399.00
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 -24,200.00
158
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
except for the aforementioned items
Total 407,693.74 --
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 Diluted EPS
Basic EPS (RMB/Share)
(RMB/Share)
Net profits attributable to common
3.48% 0.11 0.11
stock stockholders of the Company
Net profits attributable to common
stock stockholders of the Company
3.43% 0.11 0.11
after deducting nonrecurring gains
and losses
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
159
山东省中鲁远洋渔业股份有限公司 2019 年半年度报告全文
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.
Chairman: Lu Lianxing
22 August 2019
160
