上工申贝（集团）股份有限公司
600843
900924
2006年中期报告
目录
一、重要提示 1
二、公司基本情况 1
三、股本变动及股东情况 2
四、董事、监事和高级管理人员 5
五、管理层讨论与分析 6
六、重要事项 8
七、财务会计报告(未经审计) 13
八、备查文件目录 48
一、重要提示
1、本公司董事会及其董事保证本报告所载资料不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性负个别及连带责任。
2、独立董事蒋衡杰因公未能出席，书面委托独立董事王志乐代为行使表决权。 3、公司中期财务报告未经审计。 4、公司董事长兼CEO张敏先生、副董事长兼CFO马民良先生、会计机构负责人徐晓晖女士声明：保证中期报告中财务报告的真实、完整。
二、公司基本情况
(一)基本情况简介
1、 公司法定中文名称：上工申贝（集团）股份有限公司 公司法定中文名称缩写：上工申贝 公司法定英文名称：SGSB GROUP CO.,LTD. 公司法定英文名称缩写：SGSB 2、 公司A股上市交易所：上海证券交易所 公司A股简称：G上工 公司A股代码：600843 公司B股上市交易所：上海证券交易所 公司B股简称：上工B股 公司B股代码：900924 3、 公司注册地址：上海市浦东新区罗山路1201号 公司办公地址：上海市浦东新区世纪大道1500号东方大厦１２楼 邮政编码：200122 公司国际互联网网址：http://www.sgsbgroup.com 公司电子信箱：sgsb@sgsbgroup.com 4、 公司法定代表人：张敏 5、 董事会秘书：张一枫 电话：021-68407515 传真：021-63302939 E-mail：zyf@sgsbgroup.com 联系地址：上海市浦东新区世纪大道1500号东方大厦１２楼 公司证券事务代表：周勇强 电话：021-6840770-728 传真：021-63302939 E-mail：zyq@sgsbgroup.com 联系地址：上海市浦东新区世纪大道１５００号东方大厦１２楼 6、 公司信息披露报纸名称：《上海证券报》、《香港商报》 登载公司中期报告的中国证监会指定国际互联网网址：http://www.sse.com.cn 公司中期报告备置地点：公司办公室 7、 公司其他基本情况：
１）公司首次注册登记日期：1993年12月16日 最近一次变更注册登记日期：2005年2月7日 登记地点：上海市工商行政管理局 ２）企业法人营业执照注册号：企股沪总字第019029号 ３）税务登记号码：国税沪字310115132210544 公司聘请的会计师事务所 境内：上海众华沪银会计师事务所有限公司
办公地址：上海市延安东路550号海洋大厦12楼 境外：德豪国际会计师事务所 办公地址：上海市延安东路550号海洋大厦12楼 ５）法律顾问：上海市震旦律师事务所 办公地点：上海市四川北路1688号16楼
(二)主要财务数据和指标
1、主要会计数据和财务指标
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
本报告期末 上年度期末 本报告期末比上年度期末增减（％
）
流动资产 1,412,189,139.72 1,439,871,280.28 -1.92
流动负债 917,629,429.17 1,007,886,006.53 -8.96
总资产 2,413,979,045.84 2,442,150,302.38 -1.15
股东权益（不含少数股东权益） 568,396,492.27 565,889,885.70 0.44
每股净资产(元) 1.2662 1.2607 0.44
调整后的每股净资产(元) 1.1529 1.1691 -1.39
报告期（1－6月） 上年同期 本报告期比上年同期增减（％）
净利润 803,610.54 -35,199,980.17 102.28
扣除非经常性损益的净利润 -10,817,421.17 -35,509,655.97 69.54
每股收益(元) 0.0018 -0.078 102.31
净资产收益率(%) 0.1414 -4.28 增加4.4214个百分点
经营活动产生的现金流量净额 7,288,789.46 -74,117,301.34 109.83
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
2、扣除非经常性损益项目和金额
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
非经常性损益项目 金额
各种形式的政府补贴 68,467.50
营业外收入 11,641,601.00
营业外支出 89,036.79
合计 11,621,031.71
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
3、按中国证监会发布的《公开发行证券公司信息披露编报规则》第9号的要求计算的净资产收益率及每股收益
单位:元 币种:人民币
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报告期利润 净资产收益率 每股收益
全面摊薄 加权平均 全面摊薄 加权平均
主营业务利润 49.13 49.24 0.6221 0.6221
营业利润 5.31 5.33 0.0067 0.0067
净利润 0.14 0.14 0.0018 0.0018
扣除非经营性损益后的净利润 -1.91 -1.91 -0.0241 -0.0241
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
三、股本变动及股东情况
(一)股份变动情况表
单位:股
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本次变动前 本次变动增减（＋，－） 本次变动后
数量 比例 发行新 送股 公积金 其他 小计 数量 比例
股 转股
一、有限售条件股份
1、国家持股 132,841,017 29.59 132,841,017 29.59
2、国有法人持 21,899,907 4.88 21,899,907 4.88
股
3、其他内资持 17,192,500 3.83 17,192,500 3.83
股
其中：境内法人 17,192,500 3.83 17,192,500 3.83
持股
境内自然人持股
4、外资持股
其中：境外法人
持股
境外自然人持股
有限售条件股份 171,933,424 38.30 171,933,424 38.30
合计
二、无限售条件流通股份
1、人民币普通 33,009,603 7.35 33,009,603 7.35
股
2、境内上市的 243,943,750 54.35 243,943,750 54.35
外资股
3、境外上市的
外资股
4、其他
无限售条件流通 276,953,353 61.70 276,953,353 61.70
股份合计
三、股份总数 448,886,777 100.00 448,886,777 100.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
股份变动的批准情况 公司于2006年5月22日召开A股市场相关股东会议，审议通过了公司股权分置改革方案。上海市浦东新区国有资产监督管理委员会（下称“新区国资”）、上海国际信托投资有限公司、中国东方资产管理公司（下称“东方资产”）、中国长城资产管理公司（下称“长城资产”）按各自比例向全体流通A股股东支付对价，以换取全体非流通股股份的上市流通权。流通A股股东每持有10股流通A股将获得6.0股股票的对价，共计获得12,378,601股。东方资产和长城资产所应支付股份由新区国资先行垫付。
(二)股东情况
1、股东数量和持股情况
单位：股
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
报告期末股东总数 29,606户，其中A股股东11,815户，B股股东17,791户。
前十名股东持股情况
股东名称 股东性质 持股比例(%) 持股总数 报告期内增减 持有有限售条件股 质押或冻结的股
份数量 份数量
上海市浦东新区 国有股东 24.03 107,870,050 -10,626,704 107,870,050 0
国有资产监督管
理委员会
上海国际信托投 法人股东 4.88 21,899,907 -1,751,897 21,899,907 0
资有限公司
HONOURFORCEINVE 外资股东 4.61 20,712,467 未知
STMENTSLTD.
中国东方资产管 国有股东 3.38 15,185,651 15,185,651 未知
理公司
MAINFORCEASSETS 外资股东 2.82 12,650,000 未知
LIMITED
MESABIASSETSLIM 外资股东 2.69 12,075,000 未知
ITED
上海实业资产管 外资股东 2.38 10,695,000 未知
理有限公司（香
港）
中国长城资产管 国有股东 2.18 9,785,316 9,785,316 未知
理公司
NORMALWINASSETS 外资股东 1.85 8,305,162 -208,600 未知
LIMITED
中国银行上海市 法人股东 1.41 6,309,648 6,309,648 未知
分行
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
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前十名无限售条件股东持股情况
股东名称 持有无限售条件股份数量 股份种类
HONOURFORCEINVESTMENTSLTD. 20,712,467 境内上市外资股
MAINFORCEASSETSLIMITED 12,650,000 境内上市外资股
MESABIASSETSLIMITED 12,075,000 境内上市外资股
上海实业资产管理有限公司（香港） 10,695,000 境内上市外资股
NORMALWINASSETSLIMITED 8,305,162 境内上市外资股
SHENYINWANGUONOMINEES(H.K)LTD. 4,082,178 境内上市外资股
威亚国际实业有限公司 3,430,361 境内上市外资股
NAITOSECURITIESCO.,LTD. 3,373,484 境内上市外资股
王金凌 2,200,000 境内上市外资股
胡云菁 2,194,300 境内上市外资股
上述股东关联关系或一致行动关系的说明 未知前十名流通股股东和前十名股东之间是否存在关联关系或一致行动的情况
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2、控股股东及实际控制人变更情况 本报告期内公司控股股东及实际控制人没有发生变更。
四、董事、监事和高级管理人员
(一)董事、监事和高级管理人员持股变动
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
姓名 职务 期初持股数 期末持股数 股份增减数 变动原因
马民良 副董事长、CFO 3,450 5,520 2,070 因股改获对价支付
王立喜 总经理、COO 3,968 6,349 2,381 因股改获对价支付
何忠源 监事会主席 6,745 10,792 4,047 因股改获对价支付
陈明其 副总经理 1,984 3,174 1,190 因股改获对价支付
张一枫 董事会秘书 3,161 5,058 1,897 因股改获对价支付
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
(二)新聘或解聘公司董事、监事、高级管理人员的情况
1、公司于2006年6月26日召开2005年度股东大会。（1）选举产生了公司第五届董事会组成人选。张敏先生、马民良先生、王立喜先生、顾坚先生、常江先生、贾春荣先生、沈逸波先生为公司第五届董事会董事；刘仁德先生、王志乐先生、蒋衡杰先生、宫龙云先生为公司第五届董事会独立董事。（2）选举产生了公司第五届监事会组成人选。何忠源先生、王杰先生为公司第五届监事会监事；姜小书女士经公司职代会选举当选职工监事。 2、公司于2006年6月26日召开五届一次董事会议，选举并聘任张敏先生为公司董事长兼CEO；选举并聘任马民良先生为公司副董事长兼CFO；聘任王立喜先生为公司总经理兼COO；聘任陈明其先生、陈长保先生、徐伟堃先生为公司副总经理、徐晓晖女士为公司财务负责人；聘任张一枫先生为公司董事会秘书、周勇强先生为证券事务代表。 3、公司于2006年6月26日召开五届一次监事会议，选举何忠源先生为公司监事会主席。
五、管理层讨论与分析
(一)管理层讨论与分析
报告期内公司按照年初设定的生产经营目标稳步地开展各项工作： 1、海外经营业绩提升。公司海外全资子公司上工（欧洲）控股有限责任公司控股的德国杜克普·阿德勒股份有限公司（简称DA公司）2006年1至6月主营业务收入和主营业务毛利率同步增长，实现净利润已超过去年全年水平。DA公司业务比重已占整个公司三分之二左右，其业绩稳步提升，不仅影响公司的损益，而且也为公司在国内主业的重组改造，争取了时间和空间。 2、合资项目开始启动。为充分利用DA公司的技术和品牌资源，争取协同效应，公司合资组建DA工业缝制设备的销售和制造公司。其中杜克普爱华贸易（上海）有限公司（简称DA贸易公司）筹备工作已经全部完成，八月份正式开业；杜克普爱华工业制造（上海）有限公司（简称DA制造公司）按照筹建和产品试制生产同步开展的要求，各项工作正在有条不紊地加以推进，九月份将正式开业，合资制造公司第一批产品包括四大类机种，在德国技术人员的指导下已分别进入研制和批试阶段。 3、内部调整全面推进。在确立高端缝制设备为公司核心主业的同时，根据“精干主业、淡出副业、进退有序、效益优先”的原则，公司对属下国内部份的缝制企业实行大幅度地改革与调整，涉及人员、产品、工艺和体制机制等一系列调整措施的全面实施为公司实现国内主业大幅度减亏直至扭亏目标创造了条件。 报告期内，公司生产和销售的工业机分别为34,300台和44,339台（其中DA公司的产量为9,010台，销量为8,774台）；公司生产和销售各类家用缝纫机为54,696台和58,412台。报告期内公司出口创汇（不含DA公司）2,891.7万美元，与上年同期相比增长2.12%。
(二)公司主营业务及其经营状况
1、主营业务分行业、产品情况表
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
分行业或分产 主营业务收入 主营业务成本 主营业务利 主营业务收入 主营业务成本 主营业务利润率
品 润率(%) 比上年同期增 比上年同期增 比上年同期增减
减（％） 减（％） （%）
缝制及物料传 860,131,038.87 596,972,798.85 30.60 338.47 229.56 增加22.94个百分
输设备 点
出口代理 111,942,897.02 104,709,499.60 6.46 6.58 3.02 增加3.23个百分
点
办公机械 30,512,445.18 27,735,307.72 9.10 -38.27 -34.53 增加3.13个百分
点
影像材料 26,056,820.02 22,310,395.62 14.38 0.53 6.92 增加6.85个百分
点
其他 7,062,876.47 4,302,595.68 39.08 -78.15 -85.52 增加31.02个百分
点
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
其中：报告期内上市公司向控股股东及其子公司销售产品或提供劳务的关联交易金额0元人民币。 （1）占主营业务收入10％以上的主要产品系缝制设备、出口代理，占主营业务利润10％以上的主要产品系缝制设备。
（2）主营业务收入构成情况
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 主营业务构成比例（％）
缝制及物料传输设备 83.05
出口代理 10.85
办公机械 2.95
胶片业务 2.52
其他 0.68
合计 100.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
2、主营业务分地区情况
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
地区 主营业务收入 主营业务收入比上年同期增减（％）
境内 113,731,263.76 -53.62
境外 921,974,813.80 478.92
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
3、投资收益对公司净利润影响达到10%以上的参股公司的经营情况及业绩
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
公司名称 经营范围 净利润 参股公司贡献的投资收益 占上市公司净利润的比重(%)
上海富士施乐有限公司 复印机生产及销售 46,522,287.32 9,164,368.05 1,140.4
上海申丝物流有限公司 运输物流 44,039,918.64 1,959,039.52 243.78
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
4、主营业务及其结构发生重大变化的原因说明
主营业务结构的变化主要是同比增加境外全资子公司—上工（欧洲）控股有限责任公司上半年的发生数，由于其控股的DA公司主营业务全部为缝制及物料传输设备，因此使缝制及物料传输设备的主营业务收入从去年同期占全部主营业务收入的48.5%提高到今年的83.05%，从而影响了其他产品占主营业务收入的比重。
5、主营业务盈利能力（毛利率）与上年相比发生重大变化的原因说明
主营业务盈利能力同比增加主要是增加境外全资子公司—上工（欧洲）控股有限责任公司上半年的发生数，由于其控股的DA公司产品毛利率达37.55%，因此使本报告期的主营业务利润同比有大幅增长。
6、利润构成与上年度相比发生重大变化的原因分析
本期增加境外全资子公司-上工（欧洲）控股有限责任公司上半年的发生数，由于其控股的DA公司的产品毛利率较高，因此使缝制及物料传输设备的主营业务利润同比大幅上升，比重达94.09%，由此对其他产品业务利润的比重产生了影响，使利润结构发生变化。
(三)公司投资情况
1、募集资金承诺项目情况
单位:万元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
募集资金总额 32，264 本年度已使用募集资金总额 809.87
已累计使用募集资金总额 17,005.07
承诺项目 拟投入金 是否变更项目 实际投入金额 产生收益情况 是否符合计划进度 是否符合预计
额 收益
收购DA公司项目 20,096 否 15,060.3 2,050.91 － －
利用德国DA公司技术建 19,500 否 1,944.77 － － －
设电脑特种工业缝纫机
项目
合计 39,596 / 17,005.07 / /
未达到计划进度和收益的说明（分 －
具体项目）
变更原因及变更程序说明（分具体 －
项目）
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
1、2005年7月1日，公司全资子公司上工（欧洲）控股有限责任公司完成了收购德国DA公司股份的手续。当年度产生收益金额为人民币461.63万元，本报告期内，DA公司对本公司的利润贡献为人民币1,589.28万元，该项目累计产生收益金额达人民币2,050.91万元。 2、公司正在集中力量利用DA公司技术对适合我国和亚洲地区的部分产品开展研发，并组织当地化生产，第一批四大类机种正在逐步分批推向市场。 2、报告期内，公司无非募集资金投资项目。
六、重要事项
(一)公司治理的情况
报告期内，公司完成了股权分置改革工作，以A股市场相关股东的99.96%（A股流通股股东98.06%）的赞成比例通过了股权分置改革方案，并于2006年6月15日正式复牌交易。 根据修订后的《公司法》、《证券法》、《上市公司章程指引》等有关法律法规，修订了公司《章程》，并依法规范公司运作。 报告期内，公司还完成了董事会、监事会换届改选工作，重新聘请了公司高层管理人员。 目前，公司的治理情况符合中国证监会的有关要求。
(二)报告期实施的利润分配方案执行情况
公司2005年度股东大会审议通过的2005年度利润分配方案为不分配红利、也不进行资本公积金转增股本。
(三)中期拟定的利润分配预案、公积金转增股本预案
公司中期不进行利润分配和公积金转增股本。
(四)重大诉讼仲裁事项
本报告期公司无重大诉讼、仲裁事项。
(五)资产交易事项
本报告期公司无收购及出售资产、吸收合并事项。
(六)报告期内公司重大关联交易事项
本报告期公司无重大关联交易事项。
(七)托管情况
本报告期公司无托管事项。
(八)承包情况
本报告期公司无承包事项。
(九)租赁情况
本报告期公司无租赁事项。
(十)担保情况
单位:万元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
公司对外担保情况（不包括对控股子公司的担保）
担保对象 发生日期（协议签署日 担保金额 担保类型 担保期限 是否履行完毕 是否为关联方担
） 保
上海华源企 2004年11月11日 3,000 连带责任担 2004年11月11日 否 否
业发展股份 保 ～2005年11月9日
有限公司
上海华源企 2005年3月29日 1,000 连带责任担 2005年3月29日～ 否 否
业发展股份 保 2005年9月29日
有限公司
上海华源企 2005年5月27日 1,000 连带责任担 2005年5月27日～ 否 否
业发展股份 保 2006年5月23日
有限公司
上海华源企 2005年6月13日 1,000 连带责任担 2005年6月13日～ 否 否
业发展股份 保 2005年9月29日
有限公司
上海华源企 2005年6月6日 3,000 连带责任担 2005年6月6日～2 否 否
业发展股份 保 006年6月1日
有限公司
上海华源企 2005年7月14日 3,000 连带责任担 2005年7月14日～ 否 否
业发展股份 保 2006年7月4日
有限公司
上海华源企 2006年2月26日 1,900 连带责任担 2006年2月26日～ 否 否
业发展股份 保 2006年7月23日
有限公司
报告期内担保发生额合计 1,900
报告期末担保余额合计 13,900
公司对控股子公司的担保情况
报告期内对控股子公司担保发生额合计 7,000
报告期末对控股子公司担保余额合计 25,552
公司担保总额情况（包括对控股子公司的担保）
担保总额 39,452
担保总额占公司净资产的比例(%) 69.41
其中：
为股东、实际控制人及其关联方提供担保的金额 0
直接或间接为资产负债率超过70％的被担保对象提供的债务担保金额 17,602
担保总额超过净资产50％部分的金额 0
上述三项担保金额合计 17,602
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
1、本公司与上海华源企业发展股份有限公司（下称“华源发展”）签订了互为对方向银行贷款提供担保的协议，至报告期末，公司为“华源发展”共提供七笔担保，逾期金额为9，000万元，公司于2006年2月24日与“华源发展”签订了反担保协议，“华源发展”以其持有的新余华源远东纺织有限公司95％的股权和上海华源针织时装有限公司88.53％的股权作为本公司对华源发展银行借款13，900万元提供担保的反担保质押标的。 2、根据公司与德国FAG公司签署的关于DA公司94.98％股份转让协议的有关条款，截止报告期日，公司为德国的全资子公司上工（欧洲）控股有限责任公司向FAG公司支付剩余股东贷款承担不高于1,250万欧元的连带责任，同时为DA公司在美国子公司的房屋租赁提供余额不超过530万美元的担保，合计担保金额为人民币16,902万元。
(十一)委托理财情况
本报告期公司无委托理财事项。
(十二)承诺事项履行情况
报告期内，公司或持股5%以上股东没有发生或以前期间发生但延续到报告期的对公司经营成果、财务状况可能产生重要影响的承诺事项，原非流通股股东在股权分置改革过程中未作特殊承诺。
(十三)公司、董事会、董事受处罚及整改情况
报告期内公司、公司董事会及董事均未受中国证监会的稽查、行政处罚、通报批评及证券交易所的公开谴责。
(十四)其它重大事项
1、截止本报告发表之日，公司为上海华源企业发展股份有限公司提供的七笔担保已全部逾期，逾期金额为13,900万元，对此公司正在采取积极措施，努力降低因提供担保给公司造成的影响。 2、截止本报告发表之日，上海浦东发展（集团）有限公司（下称“浦发集团”）已为本公司向银行借款16,812万元提供担保，根据浦发集团要求,本公司拟以所持控股子公司上海申贝办公机械有限公司90%股权中的54.4%股份为浦发集团提供反担保。 (十五)信息披露索引
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
事项 刊载的报刊名称及版 刊载日期 刊载的互联网网站及检索路径
面
临2006-001,上工申贝(集团)股份有限公司关于对外投资 上海证券报(C25)、香 2006年1月5 上海证券交易所网站（www.sse.com
获得补偿的公告 港商报（B5) 日 .cn）
临2006-002,上工申贝(集团)股份有限公司四届二十四次 上海证券报(C23)、香 2006年3月2 上海证券交易所网站（www.sse.com
董事会议决议公告 港商报（B3) 2日 .cn）
临2006-003,上工申贝(集团)股份有限公司2005年度业绩 上海证券报(C27)、香 2006年4月1 上海证券交易所网站（www.sse.com
快报及2006年一季度预报的公告 港商报（A10) 2日 .cn）
临2006-004,上工申贝(集团)股份有限公司四届二十五次 上海证券报(C16) 2006年4月1 上海证券交易所网站（www.sse.com
董事会议决议公告 7日 .cn）
临2006-005,上工申贝(集团)股份有限公司关于公司股票 上海证券报(C16)、香 2006年4月1 上海证券交易所网站（www.sse.com
停牌的提示性公告 港商报（A7） 7日 .cn）
上工申贝(集团)股份有限公司股权分置改革说明书（摘要 上海证券报(C16) 2006年4月1 上海证券交易所网站（www.sse.com
）、上工申贝(集团)股份有限公司董事会关于征集股权分 7日 .cn）
置改革投票委托的函
临2006-006,上工申贝(集团)股份有限公司关于召开A股市 上海证券报(C16) 2006年4月1 上海证券交易所网站（www.sse.com
场相关股东会议的通知 7日 .cn）
临2006-007,上工申贝(集团)股份有限公司关于举办公司 上海证券报(C68) 2006年4月1 上海证券交易所网站（www.sse.com
股权分置改革投资者网上交流会的公告 8日 .cn）
临2006-008,上工申贝(集团)股份有限公司四届二十六次 上海证券报(C46)、香 2006年4月2 上海证券交易所网站（www.sse.com
董事会议决议公告 港商报（B8) 2日 .cn）
临2006-009,上工申贝(集团)股份有限公司四届二十次监 上海证券报(C46)、香 2006年4月2 上海证券交易所网站（www.sse.com
事会议决议公告 港商报（A5) 2日 .cn）
上工申贝(集团)股份有限公司2005年度报告摘要 上海证券报(C44)、香 2006年4月2 上海证券交易所网站（www.sse.com
港商报（B7) 2日 .cn）
临2006-010,上工申贝(集团)股份有限公司关于股权分置 上海证券报(B68) 2006年4月2 上海证券交易所网站（www.sse.com
改革方案沟通协商情况暨修改股权分置改革方案的公告 6日 .cn）
上工申贝(集团)股份有限公司2006年第一季度报告 上海证券报(B82)、香 2006年4月2 上海证券交易所网站（www.sse.com
港商报（B9) 8日 .cn）
临2006-011,上工申贝(集团)股份有限公司四届二十七次 上海证券报(B82)、香 2006年4月2 上海证券交易所网站（www.sse.com
董事会议决议公告 港商报（B9) 8日 .cn）
临2006-012,上工申贝(集团)股份有限公司关于股权分置 上海证券报(B16) 2006年5月9 上海证券交易所网站（www.sse.com
改革方案获得国有资产管理部门批准的公告 日 .cn）
临2006-013,上工申贝(集团)股份有限公司关于召开A股市 上海证券报(B16) 2006年5月9 上海证券交易所网站（www.sse.com
场相关股东会议第一次提示性公告 日 .cn）
临2006-014,上工申贝(集团)股份有限公司关于召开A股市 上海证券报(B21) 2006年5月1 上海证券交易所网站（www.sse.com
场相关股东会议第二次提示性公告 6日 .cn）
临2006-015,上工申贝(集团)股份有限公司A股市场相关股 上海证券报(B18) 2006年5月2 上海证券交易所网站（www.sse.com
东会议表决结果公告 3日 .cn）
临2006-016,上工申贝(集团)股份有限公司关于召开2005 上海证券报(B35)、香 2006年5月2 上海证券交易所网站（www.sse.com
年度股东大会的通知 港商报（B4) 4日 .cn）
临2006-017,上工申贝(集团)股份有限公司关于股权分置 上海证券报(B21) 2006年5月3 上海证券交易所网站（www.sse.com
改革进程公告 0日 .cn）
临2006-018,上工申贝(集团)股份有限公司关于股权分置 上海证券报(B13) 2006年6月6 上海证券交易所网站（www.sse.com
改革进程公告 日 .cn）
临2006-019,上工申贝(集团)股份有限公司关于股权分置 上海证券报(B27) 2006年6月9 上海证券交易所网站（www.sse.com
改革方案获商务部批复的公告 日 .cn）
临2006-020,上工申贝(集团)股份有限公司股权分置改革 上海证券报(B18) 2006年6月1 上海证券交易所网站（www.sse.com
方案实施公告 2日 .cn）
临2006-021,上工申贝(集团)股份有限公司2005年度股东 上海证券报(B14)、香 2006年6月2 上海证券交易所网站（www.sse.com
大会决议公告 港商报（B4) 8日 .cn）
临2006-022,上工申贝(集团)股份有限公司五届一次董事 上海证券报(B14)、香 2006年6月2 上海证券交易所网站（www.sse.com
会议决议公告 港商报（B4) 8日 .cn）
临2006-023,上工申贝(集团)股份有限公司五届一次监事 上海证券报(B14)、香 2006年6月2 上海证券交易所网站（www.sse.com
会议决议公告 港商报（B4) 8日 .cn）
临2006-024,上工申贝(集团)股份有限公司2006年上半年 上海证券报(B16)、香 2006年7月1 上海证券交易所网站（www.sse.com
业绩预盈公告 港商报（B3) 日 .cn）
临2006-025,上工申贝(集团)股份有限公司关于与上海银 上海证券报(B14)、香 2006年7月2 上海证券交易所网站（www.sse.com
行福民支行签订2.1亿元人民币综合授信合同的公告 港商报（A5) 6日 .cn）
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
七、财务会计报告(未经审计)
(一)财务报表
资产负债表 2006年06月30日
编制单位: 上工申贝（集团）股份有限公司
单位: 元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 附注 合并 母公司
合并 母公司 期末数 期初数 期末数 期初数
流动资产：
货币资金 5.1 350,125,185.03 478,555,903.19 158,328,732.45 274,321,581.47
短期投资 5.2 846,495.88 821,924.05 395,182.33 395,182.33
应收票据 5.3 25,478,897.10 26,334,081.46 800,000.00 552,274.50
应收股利 308,637.18 327,102.05 5,094,498.42 5,094,498.42
应收利息 72,642.87
应收账款 5.4.1 5.4.2 424,778,352.55 390,593,524.60 63,328,329.86 54,478,181.27
其他应收款 5.5.1 5.5.2 55,357,773.09 44,879,526.01 44,357,624.38 40,573,193.76
预付账款 5.6 12,898,052.27 19,245,185.58 3,437,470.09 901,622.61
应收补贴款 5.7 1,283,153.20 1,242,765.36
存货 5.8 538,960,103.62 476,503,092.49 64,213,215.66 73,053,450.19
待摊费用 5.9 2,152,489.80 1,295,532.62
一年内到期的长
期债权投资
其他流动资产
流动资产合计 1,412,189,139.72 1,439,871,280.28 339,955,053.19 449,369,984.55
长期投资：
长期股权投资 5.10.1 5.10.2 176,439,844.22 173,064,880.77 660,315,238.57 625,588,824.27
长期债权投资 5.11
长期投资合计 176,439,844.22 173,064,880.77 660,315,238.57 625,588,824.27
其中：合并价差 58,764,553.53 63,354,512.19
其中：股权投资 58,764,553.53 63,354,512.19
差额
固定资产：
固定资产原价 5.12 1,649,660,268.47 1,590,190,739.54 554,296,954.14 556,448,165.82
减：累计折旧 1,084,749,990.81 1,025,168,528.71 323,444,291.90 314,547,460.17
固定资产净值 564,910,277.66 565,022,210.83 230,852,662.24 241,900,705.65
减：固定资产减 75,238,065.48 75,238,065.48 75,111,879.85 75,111,879.85
值准备
固定资产净额 489,672,212.18 489,784,145.35 155,740,782.39 166,788,825.80
工程物资
在建工程 5.13 7,583,935.06 5,026,956.00 366,500.00
固定资产清理
固定资产合计 497,256,147.24 494,811,101.35 156,107,282.39 166,788,825.80
无形资产及其他
资产：
无形资产 5.14 258,486,945.41 252,896,132.18 112,618,500.45 114,640,169.19
长期待摊费用 5.15 109,772.79 141,136.41
其他长期资产
无形资产及其他 258,596,718.20 253,037,268.59 112,618,500.45 114,640,169.19
资产合计
递延税项：
递延税款借项 69,497,196.46 81,365,771.39
资产总计 2,413,979,045.84 2,442,150,302.38 1,268,996,074.60 1,356,387,803.81
流动负债：
短期借款 5.16 459,404,356.28 520,415,905.72 311,108,148.62 369,770,000.00
应付票据 5.17 40,000.00 220,000.00 40,000.00 220,000.00
应付账款 5.18 199,788,589.46 207,789,162.37 71,207,139.46 81,390,154.68
预收账款 5.19 51,563,396.95 40,569,303.72 5,402,446.29 14,128,642.96
应付工资 16,266,802.34 15,568,104.51
应付福利费 43,574,832.28 32,986,414.58 267,924.68
应付股利 5.20 2,660,551.73 2,939,137.92 1,532,818.86 1,532,818.86
应交税金 5.21 -492,767.68 -899,955.00 593,853.31 207,127.54
其他应交款 61,872.25 48,529.58 893.37 1,436.43
其他应付款 5.22 142,899,915.06 186,419,987.87 290,145,109.97 301,112,727.94
预提费用 5.23 674,791.96 462,402.50 19,845.00
预计负债 787,088.54 967,012.76
一年内到期的长 400,000.00 400,000.00 400,000.00 400,000.00
期负债
其他流动负债
流动负债合计 917,629,429.17 1,007,886,006.53 680,698,334.56 768,782,753.41
长期负债：
长期借款 5.24 1,609,984.87 1,609,984.87
应付债券
长期应付款 5.25 801,172,794.46 765,815,894.79 1,474,782.00 1,474,782.00
专项应付款
其他长期负债
长期负债合计 802,782,779.33 767,425,879.66 1,474,782.00 1,474,782.00
递延税项：
递延税款贷项 5.26 33,721,681.62 30,238,603.13
负债合计 1,754,133,890.12 1,805,550,489.32 682,173,116.56 770,257,535.41
少数股东权益 91,448,663.45 70,709,927.36
所有者权益（或
股东权益）：
实收资本（或股 5.27 448,886,777.00 448,886,777.00 448,886,777.00 448,886,777.00
本）
减：已归还投资
实收资本（或股 448,886,777.00 448,886,777.00 448,886,777.00 448,886,777.00
本）净额
资本公积 5.28 383,789,877.38 383,789,877.38 383,789,877.38 383,789,877.38
盈余公积 5.29 26,001,680.07 26,001,680.07 4,546,242.52 4,546,242.52
其中：法定公益 11,305,424.74 2,273,121.26
金
未分配利润 5.30 -276,674,842.01 -277,478,452.55 -250,399,938.86 -251,092,628.50
拟分配现金股利
外币报表折算差 -10,442,047.61 -12,145,043.64
额
减：未确认投资 5.31 3,164,952.56 3,164,952.56
损失
所有者权益（或 568,396,492.27 565,889,885.70 586,822,958.04 586,130,268.40
股东权益）合计
负债和所有者权 2,413,979,045.84 2,442,150,302.38 1,268,996,074.60 1,356,387,803.81
益（或股东权益
）总计
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
公司法定代表人:张敏主管会计工作负责人:马民良会计机构负责人:徐晓晖
利润及利润分配表 2006年1-6月
编制单位: 上工申贝（集团）股份有限公司
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 附注 合并 母公司
合并 母公司 本期数 上年同期数 本期数 上年同期数
一、主营业务收入 5.32.1 5.32.2 1,035,706,077.56 404,493,395.53 52,480,292.81 57,603,429.32
减：主营业务成本 5.33.1 5.33.2 756,030,597.47 378,825,938.91 53,485,920.12 57,280,441.18
主营业务税金及附加 5.34 435,051.34 392,060.15
二、主营业务利润（亏 279,240,428.75 25,275,396.47 -1,005,627.31 322,988.14
损以“-”号填列）
加：其他业务利润（亏 5.35 8,164,777.34 6,492,342.92 1,446,768.22 35,425.92
损以“-”号填列）
减:营业费用 137,515,340.13 13,883,057.16 3,259,822.91 1,983,030.78
管理费用 106,859,153.90 56,790,933.30 21,450,614.99 20,334,760.64
财务费用 5.36 40,010,390.53 12,727,078.78 14,626,602.28 10,466,718.60
三、营业利润（亏损以 3,020,321.53 -51,633,329.85 -38,895,899.27 -32,426,095.96
“-”号填列）
加：投资收益（损失以 5.37.1 5.37.2 13,020,990.65 16,740,374.34 28,594,384.35 -3,940,053.26
“-”号填列）
补贴收入 5.38 89,500.00 12,099.00
营业外收入 5.39 11,711,928.99 828,425.38 11,035,539.09 31,305.10
减：营业外支出 5.40 99,720.58 71,232.16 41,334.53 13,802.06
四、利润总额（亏损总 27,743,020.59 -34,123,663.29 692,689.64 -36,348,646.18
额以“-”号填列）
减：所得税 23,381,324.63 1,093,709.97
减：少数股东损益 3,558,085.42 -114,401.77
加：未确认投资损失( -97,008.68
合并报表填列)
五、净利润（亏损以“ 803,610.54 -35,199,980.17 692,689.64 -36,348,646.18
-”号填列）
加：年初未分配利润 -277,478,452.55 510,825.49 -251,092,628.50 18,184,970.04
其他转入
六、可供分配的利润 -276,674,842.01 -34,689,154.68 -250,399,938.86 -18,163,676.14
减：提取法定盈余公积
提取法定公益金
提取职工奖励及福利基
金(合并报表填列)
提取储备基金
提取企业发展基金
利润归还投资
七、可供股东分配的利 -276,674,842.01 -34,689,154.68 -250,399,938.86 -18,163,676.14
润
减：应付优先股股利
提取任意盈余公积
应付普通股股利
转作股本的普通股股利
八、未分配利润(未弥 -276,674,842.01 -34,689,154.68 -250,399,938.86 -18,163,676.14
补亏损以“-”号填列)
补充资料：
1.出售、处置部门或被
投资单位所得收益
2.自然灾害发生的损失
3.会计政策变更增加(
或减少)利润总额
4.会计估计变更增加(
或减少)利润总额
5.债务重组损失
6.其他
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
公司法定代表人:张敏主管会计工作负责人:马民良会计机构负责人:徐晓晖
现金流量表 2006年1-6月
编制单位: 上工申贝（集团）股份有限公司
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 附注 合并数 母公司数
合并 母公司
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 1,082,347,371.68 53,086,848.42
收到的税费返还 23,882,316.15
收到的其他与经营活动有关的现 43,761,030.69 55,833,680.39
金
现金流入小计 1,149,990,718.52 108,920,528.81
购买商品、接受劳务支付的现金 727,428,214.86 48,749,210.32
支付给职工以及为职工支付的现 300,569,229.51 39,333,189.25
金
支付的各项税费 15,391,951.92 4,685,493.29
支付的其他与经营活动有关的现 99,312,532.77 53,998,611.05
金
现金流出小计 1,142,701,929.06 146,766,503.91
经营活动产生的现金流量净额 7,288,789.46 -37,845,975.10
二、投资活动产生的现金流量：
收回投资所收到的现金 402,876.00 402,876.00
其中：出售子公司收到的现金
取得投资收益所收到的现金 270,128.00 270,128.00
处置固定资产、无形资产和其他 1,693,172.81 915,880.00
长期资产而收回的现金
收到的其他与投资活动有关的现
金
现金流入小计 2,366,176.81 1,588,884.00
购建固定资产、无形资产和其他 31,364,328.83 429,730.00
长期资产所支付的现金
投资所支付的现金 7,958,271.63 4,810,200.00
支付的其他与投资活动有关的现
金
现金流出小计 39,322,600.46 5,239,930.00
投资活动产生的现金流量净额 -36,956,423.65 -3,651,046.00
三、筹资活动产生的现金流量：
吸收投资所收到的现金
其中：子公司吸收少数股东权益
性投资收到的现金
借款所收到的现金 250,720,301.94 163,620,000.00
收到的其他与筹资活动有关的现
金
现金流入小计 250,720,301.94 163,620,000.00
偿还债务所支付的现金 311,731,851.38 222,281,851.38
分配股利、利润或偿付利息所支 36,466,647.50 14,549,089.51
付的现金
其中：支付少数股东的股利
支付的其他与筹资活动有关的现
金
其中：子公司依法减资支付给少
数股东的现金
现金流出小计 348,198,498.88 236,830,940.89
筹资活动产生的现金流量净额 -97,478,196.94 -73,210,940.89
四、汇率变动对现金的影响 -1,284,887.03 -1,284,887.03
五、现金及现金等价物净增加额 -128,430,718.16 -115,992,849.02
补充材料
1、将净利润调节为经营活动现金
流量：
净利润 803,610.54 692,689.64
加：少数股东损益(亏损以“-” 3,358,085.42
号填列)
减：未确认的投资损失
加：计提的资产减值准备 -4,847,612.07 -2,815,174.97
固定资产折旧 41,006,532.84 10,972,864.15
无形资产摊销 10,743,939.20 2,021,668.74
长期待摊费用摊销 31,363.62
待摊费用减少（减：增加） -856,957.18
预提费用增加（减：减少） 212,389.46
处理固定资产、无形资产和其他 -1,391,880.17 -764,400.08
长期资产的损失(减:收益)
固定资产报废损失 1,940.06
财务费用 5.36 35,877,392.50 14,549,089.51
投资损失（减：收益） -13,020,990.65 -28,594,384.35
递延税款贷项（减：借项） 15,351,653.42
存货的减少（减：增加） -62,819,206.54 12,862,511.98
经营性应收项目的减少(减：增加 12,083,556.93 -17,348,272.25
)
经营性应付项目的增加(减：减少 -29,245,027.92 -29,422,567.47
)
其他
经营活动产生的现金流量净额 7,288,789.46 -37,845,975.10
2．不涉及现金收支的投资和筹资
活动：
债务转为资本
一年内到期的可转换公司债券
融资租入固定资产
3、现金及现金等价物净增加情况
：
现金的期末余额 350,125,185.03 158,328,732.45
减：现金的期初余额 478,555,903.19 274,321,581.47
加：现金等价物的期末余额
减：现金等价物的期初余额
现金及现金等价物净增加额 -128,430,718.16 -115,992,849.02
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
公司法定代表人:张敏主管会计工作负责人:马民良会计机构负责人:徐晓晖
合并资产减值准备明细表 2006年1-6月
编制单位: 上工申贝（集团）股份有限公司
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期初余额 本期增加数 本期减少数 期末余额
因资 其他原因转出数 合计
产价
值回
升转
回数
坏账准备 154,306,573.51 5,264,939.66 10,474,747.14 10,474,747.14 149,096,766.03
合计
其中：应 125,522,769.30 3,496,407.29 8,649,347.59 8,649,347.59 120,369,829.00
收账款
其他应收 28,783,804.21 1,768,532.37 1,825,399.55 1,825,399.55 28,726,937.03
款
短期投资 15,437.67 15,437.67
跌价准备
合计
其中：股
票投资
债券投资
存货跌价 150,317,531.09 5,602,055.48 5,239,860.07 5,239,860.07 150,679,726.50
准备合计
其中：库 58,616,661.51 1,342,182.64 4,799,521.88 4,799,521.88 55,159,322.27
存商品
原材料 54,445,169.97 2,616,178.93 57,061,348.90
长期投资 1,829,025.33 1,829,025.33
减值准备
合计
其中：长 1,829,025.33 1,829,025.33
期股权投
资
长期债权
投资
固定资产 75,238,065.48 75,238,065.48
减值准备
合计
其中：房 4,918,688.12 4,918,688.12
屋、建筑
物
机器设备 70,319,377.36 70,319,377.36
无形资产
减值准备
其中：专
利权
商标权
在建工程 182,014.30 20,611.70 202,626.00
减值准备
委托贷款
减值准备
资产减值 381,888,647.38 10,887,606.84 15,714,607.21 15,714,607.21 377,061,647.01
合计
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
公司法定代表人:张敏主管会计工作负责人:马民良会计机构负责人:徐晓晖
母公司资产减值准备明细表 2006年1-6月
编制单位: 上工申贝（集团）股份有限公司
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期初余额 本期增加数 本期减少数 期末余额
因资产 其他原因转出数 合计
价值回
升转回
数
坏账准备合 72,280,648.12 1,995,161.20 788,057.72 788,057.72 73,487,751.60
计
其中：应收 54,138,853.08 510,308.00 214,595.97 214,595.97 54,434,565.11
账款
其他应收款 18,141,795.04 1,484,853.20 573,461.75 573,461.75 19,053,186.49
短期投资跌 15,437.67 15,437.67
价准备合计
其中：股票 15,437.67 15,437.67
投资
债券投资
存货跌价准 49,833,867.80 68,303.76 4,090,581.21 4,090,581.21 45,811,590.35
备合计
其中：库存 30,101,216.50 3,947,959.44 3,947,959.44 26,153,257.06
商品
原材料 12,132,560.78 68,303.76 12,200,864.54
长期投资减 1,829,025.33 1,829,025.33
值准备合计
其中：长期 1,829,025.33 1,829,025.33
股权投资
长期债权投
资
固定资产减 75,111,879.85 75,111,879.85
值准备合计
其中：房屋 4,913,777.92 4,913,777.92
、建筑物
机器设备 70,198,101.93 70,198,101.93
无形资产减
值准备
其中：专利
权
商标权
在建工程减
值准备
委托贷款减
值准备
资产减值合 199,070,858.77 2,063,464.96 4,878,638.93 4,878,638.93 196,255,684.80
计
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
公司法定代表人:张敏主管会计工作负责人:马民良会计机构负责人:徐晓晖
按中国证监会发布的《公开发行证券公司信息披露编报规则》第9号的要求计算的净资产收益率及每股收益：
单位:元 币种:人民币
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
报告期利润 净资产收益率（%） 每股收益
全面摊薄 加权平均 全面摊薄 加权平均
主营业务利润 49.13 49.24 0.6221 0.6221
营业利润 5.31 5.33 0.0067 0.0067
净利润 0.1414 0.14 0.0018 0.0018
扣除非经常性损益后的净利润 -1.91 -1.91 -0.0241 -0.0241
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
公司基本情况
上工申贝（集团）股份有限公司（以下简称“本公司”）为境内公开发行A、B股股票并在上海证券交易所上市的股份有限公司，是中国缝制设备行业第一家上市公司。本公司于1993年12月注册成立，取得由政府工商行政管理部门颁发的《企业法人营业执照》。
本公司的注册资本为人民币448,886,777元，注册地址为中国上海市浦东新区罗山路1201号，法定代表人为张敏先生。本公司以生产、销售工业用缝制设备为主，提供的产品包括符合市场各层次需求的各类缝制机械及缝制系列单元，应用于服装、针织、内衣、皮革制品、制鞋、汽车工业、家具/技术纺织品、刺绣等行业。公司国内制造的家用缝纫机和工业缝纫机分别使用的“蝴蝶牌”、“上工牌”注册商标，均被认定为“中国驰名商标”，公司在德国杜克普·阿德勒股份有限公司（简称DA公司）制造的各类特种工业机使用的杜克普·阿德勒注册商标被国际缝制行业公认为世界一流著名品牌。公司近年来积极进行新型缝纫设备的开发、研制，利用DA公司的先进技术，对现有产品和新产品实施进一步升级、开发，并逐步将适应于亚洲市场的DA产品转移到中国生产，以适应用户对自动化缝制设备日益增长的需求。
同时，本公司的经营范围近年来不断扩展，由缝制设备的产销拓展到物料传输设备、办公机械、影像器材的产销以及商贸物流等多个领域。
2. 主要会计政策和会计估计
2.1 会计制度
本公司执行企业会计准则和《企业会计制度》及其补充规定。
2.2 会计年度
本公司的会计期间采用公历制，即自日历1月1日至12月31日为一个会计年度。
2.3 记账本位币
本公司以人民币为记账本位币。
2.4 记账基础和计价原则
本公司以权责发生制为记账基础,以实际成本为计价原则。各项财产在取得时按实际成本计量，其后如果发生减值，按企业会计制度规定计提相应的减值准备。
2.5 外币业务核算方法
本公司对发生的外币业务，以业务发生当日的汇率（指由中国人民银行公布的外币市场汇价中间价，下同）将外币折算成人民币记账；期末对外币货币性资产与负债账户的外币余额按期末日汇率进行调整，调整后的人民币金额与原账面金额之间的差额作为汇兑损益，除与购建固定资产有关的专用借款产生的汇兑损益，在该资产达到预定可使用状态前予以资本化、计入资产成本外，属于筹建期间发生的汇兑损益于发生时计入长期待摊费用、并于本公司开始生产经营的当月一次计入损益；属于正常生产经营期间发生的汇兑损益，则直接计入当期损益。
2.6 现金等价物的确定标准
本公司将持有的期限短(一般是指从购买日起三个月内到期)、流动性强、易于转换为已知金额现金、价值变动风险很小的投资列作现金等价物。
2.7 短期投资核算方法
2.7.1 本公司的短期投资系一年内可以和准备变现的股票、基金、债券和其他投资，按取得时实际支付的全部价款扣除其中包含的已宣告但尚未领取的现金股利或利息入账。短期投资持有期间所收到的股利或利息等冲减投资成本；处置时按实际收到的价款扣除账面成本后的差额确认为投资收益或损失，计入当期损益。
2.7.2 期末本公司对短期投资按成本与市价孰低计量，采用单项比较法对市价低于成本的差额，计提短期投资跌价准备，并计入当期损益。
2.8坏账核算方法
2.8.1 本公司对坏账损失采用备抵法核算，期末对应收款项（包括应收账款和其他应收款）按账龄分析法计提坏账准备，并计入当期损益。期末除对确信可以完全收回的应收款项不计提坏账准备、对有证据表明已难以收回的应收款项加大计提比例直至全额计提坏账准备外，均按应收款项各级账龄的余额和下列比例计提坏账准备：
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
账龄 计提比例
1年以内 5%
1－2年 20%
2－3年 50%
3年以上 100%
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
2.8.2 本公司确认坏账的标准为：当债务人破产或者死亡，以其破产财产或者遗产清偿后，仍然无法收回时；或当债务人逾期未履行其清偿责任，且具有明显特征表明无法收回时，经公司董事会批准确认为坏账损失，冲销原提取的坏账准备；坏账准备不足冲销的差额，计入当期损益。
2.9存货核算方法
2.9.1 本公司的存货主要包括原材料、在产品、库存商品、委托加工物资、包装物和低值易耗品等。存货购建时按实际成本入账，发出时以加权平均法计价，包装物、低值易耗品在领用时按一次摊销法摊销。
2.9.2 期末本公司对存货按成本与可变现净值孰低计量，按单个存货项目的可变现净值低于成本的差额，分项计提存货跌价准备，并计入当期损益。
2.10长期投资核算方法
2.10.1 本公司的长期股权投资系持有期限超过一年的权益性投资，包括股票投资和其它股权投资等，按投资取得时实际支付的价款扣除其中包含的已宣告但尚未领取的现金股利后的金额或换出的非现金资产的账面价值加上应支付的相关税费后的价值入账。长期股权投资凡对被投资单位具有控制、共同控制或重大影响（通常指占被投资单位有表决权资本总额20%或20%以上，或虽不足20%但有重大影响）的，采用权益法核算；反之，则采用成本法核算。采用权益法核算的长期股权投资，其取得时的成本与本公司在该被投资单位所有者权益中所占份额的差额，当前者大于后者时，作为股权投资差额，分十年平均摊销，列入各摊销期的损益；当前者小于后者时，作为资本公积。（形成于2003年3月17日之前的上述差额，均作为股权投资差额，分十年平均摊销。）本公司对股权转让业务，以被转让的股权的所有权上的风险和报酬实质上已经转移给购买方、并且相关的经济利益很可能流入企业为标志，按实际处置的全部价款扣除相关税费与该处置股权的账面价值后的差额，确认为股权转让损益。
2.10.2 本公司的长期债权投资系持有期限超过一年的债权性投资，包括债券投资和其它债权投资等，按取得时的实际成本入账。长期债券投资实际成本与债券面值的差额作为债券溢价或折价，长期债券投资按期计息，同时按直线法在债券存续期间内摊销溢价或折价，计入各期损益。
2.10.3 期末对长期投资按账面价值与可收回金额孰低计量，对单项投资由于市价持续下跌或被投资单位经营状况恶化等原因导致其可收回金额低于账面价值的差额，分项提取长期投资减值准备，并计入当期损益。
2.11固定资产计价和折旧方法
2.11.1 本公司的固定资产是指使用期限超过一年，单位价值在人民币2,000元以上，为生产商品、提供劳务、出租或经营管理而持有的有形资产。固定资产以取得时的实际成本为原价入账，以年限平均法计提折旧。在无需计提减值准备的情况下，按固定资产的类别、估计的经济使用年限和预计的净残值（原价的4%或10%）分别确定折旧年限和年折旧率如下：
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
折旧年限 年折旧率
房屋及建筑物 20-50 1.92%-4.5%
机器设备 5-15 6.4%-19.2%
运输设备 5-10 9.6%-19.2%
办公及其他设备 5-10 9.6%-19.2%
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
在需要计提减值准备的情况下，按单项固定资产扣除减值准备后的账面净额和剩余折旧年限，分项确定并计提各期折旧。
2.11.2 期末本公司对固定资产按账面价值与可收回金额孰低计量，对单项资产由于市价持续下跌、技术陈旧、损坏或长期闲置等原因，导致其可收回金额低于账面价值的差额，分项提取固定资产减值准备，并计入当期损益。
2.12在建工程核算方法
2.12.1 本公司的在建工程按工程项目分别核算，以实际发生的全部支出入账，并在工程达到预定可使用状态时，按工程全部成本结转固定资产。与购建在建工程直接相关的借款利息支出和外币折算差额等借款费用，在工程项目达到预定可使用状态前予以资本化，计入工程成本；在工程项目达到预定可使用状态后，计入当期损益。
2.12.2 期末本公司对在建工程按账面价值与可收回金额孰低计量，对单项资产可收回金额低于账面价值的差额，分项提取在建工程减值准备，并计入当期损益。
2.13无形资产计价和摊销方法
2.13.1 本公司的无形资产是指为生产商品、提供劳务、出租或经营管理而持有的没有实物形态的非货币性长期资产，主要包括土地使用权、商标使用权、专利权、专有技术、开发成本等。无形资产按取得时的实际成本入账，在其预计使用期限内分期平均摊销，计入各摊销期损益。
2.13.2 期末本公司对无形资产按账面价值与可收回金额孰低计量，按单项资产预计可收回金额低于其账面价值的差额，分项提取无形资产减值准备，并计入当期损益。
2.14 长期待摊费用和摊销方法
本公司的长期待摊费用是指已经支出、但将于正常生产经营后摊销或摊销期超过一年的各项费用，主要包括开办费、装修费、受益期超过一年的租金等。长期待摊费用除开办费在开始生产经营当月一次计入损益外，均在各项目的预计受益期间内平均摊销，计入各摊销期的损益。
2.15 预计负债
当与或有事项相关的义务同时符合以下条件时，本公司将其确认为预计负债：(1)该义务是本公司承担的现时义务；(2)该义务的履行很可能导致经济利益流出本公司；(3)本公司对该义务的金额能够可靠地计量。
2.16 借款费用
本公司的借款费用是指因借款而发生的利息、折价或溢价的摊销、外币借款汇兑差额、以及借款手续费等辅助费用。属于发生的与固定资产购建有关的专门借款的借款费用，在固定资产达到预定可使用状态前按规定应予以资本化的，计入固定资产成本；固定资产达到预定可使用状态后发生的专门借款费用以及其他按规定不能予以资本化的各种借款的借款费用，属于筹建期间的，计入长期待摊费用，并于本公司开始正常生产经营的当月一次计入损益；属于生产经营期间的，计入财务费用，列作当期损益。
2.17 收入确认原则
2.17.1 本公司的商品销售在商品所有权上的主要风险和报酬已转移给买方，本公司不再对该商品实施继续管理权和实际控制权，与交易相关的经济利益很可能流入企业，并且与销售该商品相关的收入和成本能够可靠地计量时，确认营业收入的实现。
2.17.2 本公司提供的劳务在同一会计年度开始并完成的，在劳务已经提供，收到价款或取得收取价款的证据时，确认营业收入的实现；劳务的开始和完成分属不同会计年度的，在劳务合同的总收入、劳务的完成程度能够可靠地确定，与交易相关的价款能够流入，已经发生的成本和为完成劳务将要发生的成本能够可靠地计量时，按完工百分比法确认营业收入的实现；长期合同工程在合同结果已经能够合理地预见时，按结账时已完成工程进度的百分比法确认营业收入的实现。
2.17.3 本公司让渡资产使用权取得的利息收入和使用费收入，在与交易相关的经济利益能够流入企业，且收入的金额能够可靠地计量时，确认收入的实现。
2.18 所得税的会计核算方法
本公司所得税的会计核算采用应付税款法，列于利润表上的所得税费用系以会计利润经就税法规定的纳税调整后的应纳税所得额和当期适用之税率计算的当期应纳所得税额。
合并报表范围内本公司之下属公司德国DA公司的所得税会计核算采用资产负债表债务法，列于利润表上的所得税费用系以会计利润经就纳税永久性差异调整和当期适用之税率计算的金额；纳税时间性差异影响的金额已列入资产负债表的递延税款项目中。
2.19 会计政策、会计估计的变更与会计差错的更正
公司于2006年6月26日召开2005年度股东大会，审议通过修订公司章程，修订后的公司章程规定，公司分配当年实现的税后利润时，应当提取利润的10%列入法定盈余公积金，法定盈余公积金累计额为公司注册资本50%以上的，可不再提取。根据财政部财企（2006）67号关于《公司法》试行后有关企业财务处理问题的通知的有关规定及修订后的公司章程，公司不再提取法定公益金，期初留存的法定公益金转入法定盈余公积金账户。
2.20合并会计报表的编制方法
2.20.1 合并范围的确定原则：本公司根据国家财政部印发的有关文件的规定，对拥有控制权的子公司及拥有共同控制权的合营公司，除已关停并转、宣告清理或破产、准备近期售出而短期持有等特殊情况以及对合并而言影响微小者外，均纳入合并会计报表范围。
2.20.2 合并会计报表的方法：本公司的合并会计报表系以母公司和纳入合并范围的各下属公司的会计报表以及其它有关资料为依据，在对各公司之间的投资、所有重大交易、往来及结余款项作出抵销后，合并各项目数额编制而成。少数股东所占的权益和损益，作为单独项目列示于合并会计报表内。对合营公司的会计报表采用比例合并法合并。
2.20.3 报告期内购买、出售子公司的处理：本公司对报告期内购买的子公司，将其自购买日起至报告期末日止的相关收入、成本、利润纳入合并利润表；对报告期内出售的子公司，将其自报告期初日起至出售日止的相关收入、成本、利润纳入合并利润表。本公司对报告期内购买、出售的子公司，在期末编制合并资产负债表时，不调整合并资产负债表的期初数。
3．税（费）项
3.1 增值税
本公司按产销商品或提供劳务的增值额计缴增值税，主要商品和劳务的增值税率为17%。
3.2 营业税
本公司按应税营业收入的5%计缴营业税。
3.3 所得税
本公司按应纳税所得额和当期适用之税率计缴所得税，所得税税率为15%。
3.4 城市维护建设税
本公司按当期应交流转税的7%计缴城市维护建设税。
3.5 教育费附加
本公司按当期应交流转税的3%计缴教育费附加。
4. 控股子公司及合营企业
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
序号 子公司及合营企业全称 注册资本(万元) 经营范围 投资额(万 占股比例
元)
1 上海上工进出口有限公司 3,200 机电设备、仪表仪器等进出口 2,880 90%
2 上海飞人进出口有限公司 1,000 缝纫设备及其他机电产品的进出口 800 80%
3 上海双重包缝机有限公司 1,200 生产、开发、销售包缝机 840 70%
4 上海工缝房地产发展有限公司 500 房地产开发、销售咨询、物业管理 450 90%
5 上海上原科技开发有限公司 600 新型缝制设备设计、开发 420 70%
6 上海四方同济净水有限公司 697 饮用水生产、销售及相关技术开发 638 91.5%
7 上海上工佳荣衣车有限公司 400 缝纫机及配件的销售.装配加工 220 55%
8 上海上工方天机械有限公司 300 工业缝纫机及其配件的生产和销售 180 60%
9 上海上工兴达衣车机械有限公司 310 曲折缝系列工业缝纫机的生产.销售 210 67.74%
10 上海蝴蝶进出口有限公司 1,000 各类缝制设备.机电产品等进出口 800 80%
11 上海上工松达机械有限公司 300 生产、销售缝纫设备及配件 195 65%
12 上海上工佳源机电有限公司 300 生产、销售缝纫设备及配件 201 67%
13 上海上工资产经营发展有限公司 3,000 实业投资﹑管理咨询等 2,700 90%
14 上海申贝办公机械有限公司 12,500 办公机械设备的生产和销售 11,250 90%
15 上工（欧洲）控股有限责任公司 EUR1,000 投资、资产管理以及生产、加工、销 EUR1,000 100%
售工业缝纫设备
16 杜可普爱华国际贸易（上海）有限 USD150 缝纫、制衣机械设备，传送系统设备 $60 40%
公司 ，其他相关机电设备及用品、零部件
、软件的批发，佣金代理和进出口等
17 上海宝灵工程设备成套有限公司 55 机电设备、五金交电、汽配等 49.5 90%
18 上海永德经济发展有限公司 200 机电设备、家用电器等销售 160 80%
19 上海富华轻机有限公司 USD100 生产销售服装机械、贸易代理 $55 55%
20 上海工业缝纫机物产总公司 460 缝制设备零件、金属材料及汽配等 460 100%
21 南通上工缝纫机有限公司 80 缝制设备及零件等 52 65%
22 无锡上工缝纫机有限公司 50 缝制设备及零件等 40 80%
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述第1-15家子公司已纳入合并会计报表范围；第16家杜可普爱华国际贸易（上海）有限公司虽已完成注册，但尚未开始经营，故本报告期未列入合并范围；第17-22家子公司由于资产规模和损益金额对本公司整体影响较小，故未纳入合并范围。
与上期合并范围相比较，本期合并范围未发生变化。
5. 会计报表主要项目的注释
(注：以下内容所涉的金额单位为人民币元；除非特别说明，均系对合并会计报表中主要项目的说明。)
5.1 货币资金
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期末数 期初数
原币 (折合)人民币 原币 (折合)人民币
现金：
欧元 41,197.98 417,389.09 34,165.78 327,297.92
人民币 393,402.62 474,382.46
现金小计 810,791.71 801,680.38
银行存款:
美元 15,477,926.16 123,755,306.40 16,273,355.39 131,329,232.66
日元 1,722.93 119.69 5,239,719.93 360,052.59
欧元 10,524,240.24 106,624,235.15 11,356,518.22 108,792,037.59
人民币 118,934,732.08 205,385,588.28
银行存款小计 349,314,393.32 445,866,911.12
其他货币资金 31,887,311.69
350,125,185.03 478,555,903.19
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述货币资金期末数中,含1,301.5万美元的银行存款（均系定期存单，期限截至2006年12月22日止）已经作为质押物，向银行取得了9,450万元的短期借款。
5.2 短期投资
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
账面余额 跌价准备 账面净额 账面余额 跌价准备 账面净额
基金投资 651,313.55 15,437.67 635,875.88 626,741.72 15,437.67 611,304.05
债券投资 210,620.00 - 210,620.00 210,620.00 - 210,620.00
861,933.55 15,437.67 846,495.88 837,361.72 15,437.67 821,924.05
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.3 应收票据
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期末数 期初数
银行承兑汇票 850,000.00 902,274.50
商业承兑汇票 24,628,897.10 25,431,806.96
25,478,897.10 26,334,081.46
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.4 应收账款
5.4.1合并数
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
账龄 期末数 期初数
账面余额 比例(%) 坏账准备 账面余额 比例(%) 坏账准备
1年以内 431,243,778.19 79.11 39,017,252.74 401,753,549.98 77.84 44,368,907.33
1-2年 40,633,591.05 7.45 19,248,250.67 46,771,576.98 9.06 20,110,605.09
2-3年 24,658,919.16 4.52 20,645,408.30 27,926,037.35 5.41 21,378,127.29
3年以上 48,611,893.15 8.92 41,458,917.29 39,665,129.59 7.69 39,665,129.59
合计 545,148,181.55 100.00 120,369,829.00 516,116,293.90 100.00 125,522,769.30
净额 424,778,352.55 390,593,524.60
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.4.2母公司
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
账龄 期末数 期初数
账面余额 比例(%) 坏账准备 账面余额 比例(%) 坏账准备
1年以内 40,955,691.15 34.78 2,047,784.56 30,788,898.22 28.35 1,539,444.92
1-2年 37,662,633.48 31.98 17,820,652.59 38,647,438.88 35.58 18,017,613.67
2-3年 22,802,839.18 19.36 18,224,396.80 22,843,759.94 21.03 18,244,857.18
3年以上 16,341,731.16 13.88 16,341,731.16 16,336,937.31 15.04 16,336,937.31
合计 117,762,894.97 100.00 54,434,565.11 108,617,034.35 100.00 54,138,853.08
净额 63,328,329.86 54,478,181.27
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述应收账款合并期末数中，无持有本公司5%(含5%)以上表决权股份的股东单位欠款。
上述应收账款合并期末数中，有11,006,207.66元的应收帐款已经作为质押标的，向银行取得了同等数额的短期借款。
上述应收账款合并期末数中前五名金额合计为87,907,425.94元，占应收账款合并期末数的16.13%；应收账款母公司期末数中前五名金额合计为33,169,796.83元，占应收账款母公司期末数的28.17%。
5.5 其他应收款
5.5.1合并数
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
账龄 期末数 期初数
账面余额 比例(%) 坏账准备 账面余额 比例(%) 坏账准备
1年以内 55,636,729.91 66.18 2,116,939.53 39,674,728.64 53.86 892,967.56
1-2年 1,528,946.04 1.81 305,789.22 6,865,313.94 9.32 1,519,048.39
2-3年 1,229,651.78 1.46 614,825.89 6,018,249.19 8.17 5,266,749.81
3年以上 25,689,382.39 30.55 25,689,382.39 21,105,038.45 28.65 21,105,038.45
合计 84,084,710.12 100.00 28,726,937.03 73,663,330.22 100.00 28,783,804.21
净额 55,357,773.09 44,879,526.01
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.5.2母公司
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
账龄 期末数 期初数
账面余额 比例(%) 坏账准备 账面余额 比例(%) 坏账准备
1年以内 46,583,161.31 73.46 3,230,367.48 41,327,568.81 70.39 2,066,378.51
1-2年 1,227,356.17 1.94 245,471.24 1,370,912.72 2.33 274,182.54
2-3年 45,889.25 0.07 22,944.63 430,546.57 0.73 215,273.29
3年以上 15,554,403.14 24.53 15,554,403.14 15,585,960.70 26.55 15,585,960.70
合计 63,410,809.87 100.00 19,053,186.49 58,714,988.80 100.00 18,141,795.04
净额 44,357,624.38 40,573,193.76
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述其他应收款合并期末数中，无持有本公司5%(含5%)以上表决权股份的股东单位欠款。
上述其他应收款合并期末数中前五名金额合计为18,808,301.08元，占合并其他应收款期末数的22.37%；其他应收款母公司期末数中前五名金额合计为41,560,182.18元，占母公司其他应收款期末数的65.54%。
5.6 预付账款
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
账龄 期末数 期初数
账面余额 比例(%) 账面余额 比例(%)
1年以内 10,454,918.00 81.06 19,137,794.06 99.44
1-2年 2,335,742.75 18.11 60,266.95 0.31
2-3年 60,266.95 0.47 5,832.41 0.03
3年以上 47,124.57 0.36 41,292.16 0.22
合计 12,898,052.27 100.00 19,245,185.58 100.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述预付账款期末数中，无持本公司5%(含5%)以上股份的股东单位的款项。
5.7 应收补贴款
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
出口退税 1,283,153.20 1,242,765.36
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.8 存货
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
项目 账面余额 跌价准备 账面余额 跌价准备
原材料 231,979,808.96 57,061,348.90 216,388,183.65 54,445,169.97
在产品 174,696,387.27 37,638,440.35 152,430,570.87 36,292,462.87
库存商品 111,048,498.33 26,993,688.02 115,344,734.60 31,041,647.47
产成品 167,640,471.45 28,165,634.25 138,244,132.45 27,575,014.04
委托加工物资 1,880,423.48 820,614.98 1,766,670.58 963,236.74
低值易耗品 2,394,240.63 2,646,331.43 -
合计 689,639,830.12 150,679,726.50 626,820,623.58 150,317,531.09
净额 538,960,103.62 476,503,092.49
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.9 待摊费用
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期末数 期初数
租金 135,026.00 177,310.00
保险费 1,928,250.80 1,118,222.62
其他 89,213.00 -
2,152,489.80 1,295,532.62
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述待摊费用期末数比期初数增加66.15%，主要系本期已经支付的应在以后受益月份内承担的财产保险费所致。
5.10 长期股权投资
5.10.1合并数
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
账面余额 减值准备 账面净额 账面余额 减值准备 账面净额
股票投资 28,119,679.40 28,119,679.40 28,119,679.40 - 28,119,679.40
对控股、联营及其他 91,384,636.62 1,829,025.33 89,555,611.29 83,419,714.51 1,829,025.33 81,590,689.18
企业投资
合并价差 58,764,553.53 58,764,553.53 63,354,512.19 - 63,354,512.19
178,268,869.55 1,829,025.33 176,439,844.22 174,893,906.10 1,829,025.33 173,064,880.77
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
（1）股票投资
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数
股票名称 股份类别 股数 占股比例 账面余额 减值准备 期末净额
G永久 法人股 4,450,500 <5% 21,285,000.00 - 21,285,000.00
上海三毛 法人股 1,358,830 <5% 3,669,800.00 - 3,669,800.00
G申能 法人股 396,600 <5% 740,320.00 - 740,320.00
上海银行 法人股 551,400 <5% 551,400.00 - 551,400.00
百联股份 法人股 118,816 <5% 467,859.40 - 467,859.40
新黄浦 法人股 140,400 <5% 303,800.00 - 303,800.00
白猫股份 法人股 145,200 <5% 290,400.00 - 290,400.00
中卫国脉 法人股 183,784 <5% 226,000.00 - 226,000.00
G锦投 法人股 93,544 <5% 220,000.00 - 220,000.00
申银万国 法人股 102,214 <5% 200,000.00 - 200,000.00
浦发机械 法人股 204,551 <5% 90,000.00 - 90,000.00
G上广电 法人股 23,958 <5% 67,600.00 - 67,600.00
宝鼎投资 法人股 7,500 <5% 7,500.00 - 7,500.00
28,119,679.40 - 28,119,679.40
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
（2）对控股、联营及其他企业的投资
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数
投资 占股 其中：股权
被投资公司名称 期限(年) 比例 账面余额 投资差额 减值准备
上海富士施乐复印机有限公司 15 15.8% 29,140,749.49 - -
上海新沪玻璃有限公司 20% 6,168,235.27 - -
上海重机缝纫机有限公司 20 30% 5,442,443.36 - -
上海申丝物流有限公司 10 36% 4,320,000.00 - -
上海工业缝纫机物产总公司 20 100% 4,151,700.37 - -
上海胜家缝纫机有限公司 10% 3,974,779.84 - -
上海宝丽来影像有限公司 15 27% 5,835,534.49 - -
上海富华轻机有限公司 20 55% 3,537,117.64 - -
上工运输服务公司 20 100% 3,491,733.73 - -
JukiCo.Ltd,Japan 5% 5,895,147.35 - -
常熟启兴电镀五金有限公司 15 45% 2,784,164.21 - -
上海申贝长风炭棒有限公司 20 21% 2,052,228.13 - -
上海华之杰塑胶有限公司 15 12.5% 1,766,689.38 - -
上海上工佳汇缝纫设备有限公司 10 39% 1,513,352.59 - 20,991.34
上海豹驰长城印刷号码机械公司 15 20% 1,049,101.60 - -
上工泉州销售公司 10 33% 500,000.00 - 500,000.00
上工安庆销售公司 10 33% 500,000.00 - 500,000.00
上工辽宁销售公司 10 33% 500,000.00 - 500,000.00
南通上工缝纫机有限公司 10 65% 442,880.04 - -
上海华联缝制有限公司 15.5% 400,000.00 - -
上海永德经济发展有限公司 20 80% 323,746.80 - -
上海新光内衣厂（南非） 15 14.3% 308,033.99 - 308,033.99
无锡上工缝纫机有限公司 80% 153,814.26 - -
杜可普爱华国际贸易(上海)有限公司 20 40% 4,810,200.00
其他8户 2,322,984.08 - -
91,384,636.62 - 1,829,025.33
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
（3）合并价差
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
被投资单位名称 初始金额 摊销期 期初数 本期增加 本期减少 期末数
限
上海蝴蝶进出口有限公司 377,712.13 10年 188,856.09 - 18,885.60 169,970.49
上海申贝办公机械有限公司 36,703,626.38 82月 29,541,943.16 - 2,685,631.19 26,856,311.97
上海申贝办公机械有限公司 37,708,836.94 10年 33,623,712.94 - 1,885,441.87 31,738,271.07
63,354,512.19 - 4,589,958.66 58,764,553.53
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.10.2母公司
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
项目 账面余额 减值准备 账面净额 账面余额 减值准备 账面净额
股票投资 26,899,559.40 26,899,559.40 26,899,559.40 - 26,899,559.40
其他股权投资 635,244,704.50 1,829,025.33 633,415,679.17 600,518,290.20 1,829,025.33 598,689,264.87
662,144,263.90 1,829,025.33 660,315,238.57 627,417,849.60 1,829,025.33 625,588,824.27
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
（1）股票投资
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数
股票名称 股份类别 股数 占股比例 账面余额 减值准备 期末净额
G永久 法人股 4,450,500 <5% 21,285,000.00 - 21,285,000.00
上海三毛 法人股 1,358,830 <5% 3,669,800.00 - 3,669,800.00
G申能 法人股 75,000 <5% 140,000.00 - 140,000.00
上海银行 法人股 551,400 <5% 551,400.00 - 551,400.00
百联股份 法人股 118,816 <5% 467,859.40 - 467,859.40
白猫股份 法人股 145,200 <5% 290,400.00 - 290,400.00
G锦投 法人股 93,544 <5% 220,000.00 - 220,000.00
申银万国 法人股 102,214 <5% 200,000.00 - 200,000.00
G上广电 法人股 23,958 <5% 67,600.00 - 67,600.00
宝鼎投资 法人股 7,500 <5% 7,500.00 - 7,500.00
26,899,559.40 - 26,899,559.40
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
（2）对控股、联营及其他企业的投资
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数
投资 占股 其中：股权
被投资公司名称 期限(年) 比例 账面余额 投资差额 减值准备
上海上工进出口有限公司 15 90% 11,513,001.09 - -
上海飞人进出口有限公司 10 80% 8,604,116.31 - -
上海双重包缝机有限公司 15 70% 0.00 - -
上海工缝房地产发展有限公司 15 90% 7,575,303.29 - -
上海四方同济净水有限公司 15 91.5% 0.00 - -
上海上工佳荣有限公司 15 55% 241,721.09 - -
上海上工方天机械有限公司 15 60% 2,265,562.14 - -
上海上工兴达衣车机械有限公司 15 67.7% 2,715,438.05 - -
上海蝴蝶进出口有限公司 15 90% 15,339,077.37 -
上海上工松达机械有限公司 15 65% 3,857,294.24 -
上海上工佳源机电有限公司 15 67% 4,550,372.25 -
上海申贝办公机械有限公司 30 90% 386,487,807.01 -
上海上工资产经营管理有限公司 15 100% 30,200,657.47 -
上工（欧洲）控股有限责任公司 50 100% 136,957,844.39 -
杜可普爱华国际贸易（上海）有限公司 20 40% 4,810,200.00
上海重机缝纫机有限公司 20 30% 5,442,443.36 -
上海工业缝纫机物产总公司 20 100% 4,151,700.37 -
上海富华轻机有限公司 20 55% 3,537,117.64 -
上工运输服务公司 20 100% 3,491,733.73 -
上工泉州销售公司 10 33% 500,000.00 500,000.00
上工安庆销售公司 10 33% 500,000.00 500,000.00
上工辽宁销售公司 10 33% 500,000.00 500,000.00
南通上工缝纫机有限公司 10 65% 442,880.04 -
上海广濑精密工业有限公司 20 30% 0.00 -
上海华联缝制有限公司 15.5% 400,000.00 -
上海上工佳汇缝纫设备有限公司 10 9% 360,000.00 20,991,34
上海永德经济发展有限公司 20 80% 323,746.80 -
上海新光内衣厂（南非） 15 14.3% 308,033.99 308,033.99
无锡上工缝纫机有限公司 80% 153,814.26 -
上海上工企业管理有限公司 90% 14,839.61 -
635,244,704.50 1,829,025.33
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.11 长期债权投资
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期末数 期初数
账面余额 减值准备 账面净额 账面余额 减值准备 账面净额
债券投资 0.00 - 0.00 0.00 0.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.12 固定资产
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 房屋及建筑物 机器设备 运输设备 办公及其他设备 租入固定资 合计
产改良支出
原价：
期初数 568,402,923.72 687,449,872.56 16,418,255.56 316,955,911.70 963,776.00 1,590,190,739.54
本期增加 27,264,425.84 17,649,727.21 379,000.00 21,494,820.63 78,597.60 66,866,571.28
本期减少 6,182,238.00 1,071,684.05 143,120.30 7,397,042.35
期末数 595,667,349.56 698,917,361.77 15,725,571.51 338,307,612.03 1,042,373.6 1,649,660,268.47
0
累计折旧：
期初数 260,103,360.81 483,659,921.45 10,692,540.36 270,456,908.97 255,797.12 1,025,168,528.71
本期增加 17,387,978.04 25,941,386.13 695,160.85 24,690,052.45 118,806.43 68,833,383.90
本期减少 5,145,266.28 1,077,958.30 3,028,697.22 9,251,921.80
期末数 277,491,338.85 504,456,041.30 10,309,742.91 292,118,264.20 374,603.55 1,084,749,990.81
账面净值：
期初数 308,299,562.91 203,789,951.11 5,725,715.20 46,499,002.73 707,978.88 565,022,210.83
期末数 318,176,010.71 194,461,320.47 5,415,828.60 46,189,347.83 667,770.05 564,910,277.66
减值准备：
期初数 4,918,688.12 70,319,377.36 75,238,065.48
本期增/(减)
期末数 4,918,688.12 70,319,377.36 75,238,065.48
账面净额：
期初数 303,380,874.79 133,470,573.75 5,725,715.20 46,499,002.73 707,978.88 489,784,145.35
期末数 313,257,322.59 124,141,943.11 5,415,828.60 46,189,347.83 667,770.05 489,672,212.18
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述固定资产期末数中，房屋及建筑物中的世纪大道1500号1201A-D、1701B-2室，龙华东路573号，江场西路301号、华山路2018号2404室、新灵路118号1412室、1414室，公兴路360号，吴淞路669号1-4层已作为抵押物，向银行取得了10,429万元的短期借款。
5.13 在建工程
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
资金 期末数 期初数
工程名称 来源 账面余额 减值准备 账面净额 账面余额 减值准备 账面净额
KSM设备工程 自筹 366,500.00 366,500.00 - - -
房屋改造 自筹 959,980.40 959,980.40 245,000.00 - 245,000.00
空调 自筹 5,371.00 5,371.00 - - -
物料输送线 自筹 5,663,709.66 202,626.00 5,461,083.66 4,172,970.30 182,014.30 3,990,956.00
绷缝机流水线 自筹 791,000.00 791,000.00 791,000.00 - 791,000.00
7,786,561.06 202,626.00 7,583,935.06 5,208,970.30 182,014.30 5,026,956.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.14 无形资产
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 土地使用权 商标使用权 专有技术 小计
原始金额 221,569,367.19 20,161,268.51 1,400,000.00
期初数 173,909,658.49 11,088,697.81 596,699.42 185,595,055.72
本期增加
本期减少 2,005,504.12 1,008,063.36 70,000.02 3,083,567.50
期末数 171,904,154.37 10,080,634.45 526,699.40 182,511,488.22
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 商誉 专利权 开发成本 其他 合计
原始金额 33,927,094.85 4,205,488.30 37,646,917.01 966,542.40
期初数 32,824,922.51 3,285,837.10 30,395,084.11 795,232.74 252,896,132.18
本期增加 1,603,309.88 3,236,194.77 11,495,247.78 16,334,752.43
本期减少 300,592.46 956,090.78 6,382,719.00 20,969.46 10,743,939.20
期末数 34,127,639.93 5,565,941.09 35,507,612.89 774,263.28 258,486,945.41
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.15 长期待摊费用
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 租金 其他 合计
期初数 141,136.41 141,136.41
本期增加
本期减少 31,363.62 31,363.62
期末数 109,772.79 109,772.79
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.16 短期借款
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
借款种类 期末数 期初数
信用借款 107,848,148.62 121,300,000.00
保证借款 141,760,000.00 203,420,000.00
抵押借款 104,290,000.00 74,290,000.00
质押借款 105,506,207.66 121,405,905.72
459,404,356.28 520,415,905.72
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述期末信用借款中，含借款10,750万元系本公司合并报表范围内由公司之间互相提供担保。
上述期末保证借款14,176万元由上海浦东发展(集团)有限公司提供担保。
上述期末抵押借款10,429万元的抵押物为本公司拥有的部分房屋建筑物，参见本会计报表附注5.12。
上述期末质押借款中，借款9,450万元的质押物为本公司所有的1,301.5万美元定期存单；借款11,006,207.66元的质押物为同等数额的应收账款。
5.17 应付票据
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
商业承兑汇票 40,000.00 220,000.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述应付票据期末数中，无持有本公司5%（含5%）以上表决权股份的股东单位应付的票据。
5.18 应付账款
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
199,788,589.46 207,789,162.37
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述应付账款期末数中无持有本公司5% (含5%)以上表决权股份的股东单位的款项。
5.19 预收账款
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
51,563,396.95 40,569,303.72
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述预收账款期末数中无持有本公司5% (含5%)以上表决权股份的股东单位的款项。
5.20 应付股利
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
股东类别 期末数 期初数
法人股东股利 2,660,551.73 2,896,996.17
自然人股东股利 42,141.75
2,660,551.73 2,939,137.92
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.21 应交税金
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
种类 期末数 期初数
营业税 218,941.68 198,598.44
增值税 (11,421,205.48) (8,948,989.43)
城建税 118,128.59 94,471.26
企业所得税 1,542,324.61 626,551.10
房产税 0.00 -
个人所得税 9,049,042.92 7,129,413.63
(492,767.68) (899,955.00)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述个人所得税期末数主要系德国DA公司根据德国的税收法律计算的应交个人所得税。
5.22 其他应付款
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
142,899,915.06 186,419,987.87
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述其他应付款期末数中无持有本公司5% (含5%)以上表决权股份的股东单位的款项。
5.23 预提费用
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期末数 期初数
利息 22,402.50
租赁费 450,432.45 440,000.00
其他 224,359.51
674,791.96 462,402.50
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.24 长期借款
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
借款种类 期末数 期初数
信用借款 1,609,984.87 1,609,984.87
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.25 长期应付款
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期末数 期初数
养老金 525,720,352.15 506,754,985.09
FAG贷款 273,977,660.31 259,060,909.70
其他 1,474,782.00 -
801,172,794.46 765,815,894.79
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.26 递延税款贷项
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
33,721,681.62 30,238,603.13
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述递延税款贷项期末数系德国DA公司根据相关的税收法律，按照资产负债表债务法计算列示的所得税负债。
5.27 股本
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期末数 期初数
一、尚未流通股
1．发起人国家股 107,870,050.00 118,496,754.00
2．非发起人国家股 24,970,967.00 24,970,967.00
3．非发起人国有法人股 21,899,907.00 23,651,804.00
4．非发起人境内法人股 17,192,500.00 17,192,500.00
未上市流通股份合计 171,933,424.00 184,312,025.00
二、已经上市流通股
1．人民币普通股（A股） 33,009,603.00 20,631,002.00
2．境内上市外资股(B股) 243,943,750.00 243,943,750.00
已经上市流通股份合计 276,953,353.00 264,574,752.00
股份总数 448,886,777.00 448,886,777.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.28 资本公积
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期末数 期初数
股本溢价 313,159,549.73 313,159,549.73
股权投资准备 384,874.27 384,874.27
其他资本公积 70,245,453.38 70,245,453.38
383,789,877.38 383,789,877.38
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.29 盈余公积
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 期末数 期初数
法定盈余公积 26,001,680.07 14,696,255.33
法定公益金 11,305,424.74
26,001,680.07 26,001,680.07
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.30 未分配利润
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
调整前期初未分配利润 (277,478,452.55) 510,825.49
加：追溯调整期初数 -
调整后期初未分配利润 (277,478,452.55) 510,825.49
加：本期净利润/（亏损） 803,610.54 (276,608,231.59)
其他转入 77,032.50
可供分配的利润/（亏损） (276,020,373.60)
减：提取法定盈余公积 779,267.83
提取法定公益金 678,811.12
期末未分配利润/（未弥补亏损） (276,674,842.01) (277,478,452.55)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.31 未确认投资损失
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
期末数 期初数
(3,164,952.56)(3,164,952.56) (3,164,952.56)(3,164,952.56)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
本公司合并范围内的下属子公司上海申贝长城号码机械有限公司期末净资产为负数，本公司对其的长期投资账面价值已减至零，因该公司目前仍在经营之中，故仍将其纳入本期合并报表范围中，上述未确认投资损失期末数即为该公司期末净资产的负数额。
5.32 主营业务收入
5.32.1合并数
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
缝制及物料输送设备 860,131,038.87 196,166,241.34
出口代理 111,942,897.02 105,033,394.20
办公机械 30,512,445.18 45,050,820.56
胶片业务 26,056,820.02 25,918,519.90
其他 7,062,876.47 32,324,419.53
1,035,706,077.56 404,493,395.53
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
本期合并主营业务收入中，销售给前5名客户的营业额合计为118,282,927.50元，占本期合并主营业务收入的11.42%。
合并主营业务收入本期数比上期数增长了156.05%，主要系同比增加本公司控股子公司上工（欧洲）控股有限责任公司上半年发生数所致。
5.32.2 母公司
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
缝制设备 52,480,292.81 57,603,429.32
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.33 主营业务成本
5.33.1 合并数
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
缝制设备 596,972,798.85 181,141,769.84
出口代理 104,709,499.60 101,636,933.50
办公机械 27,735,307.72 42,362,056.01
胶片业务 22,310,395.62 23,967,849.40
其他 4,302,595.68 29,717,330.16
756,030,597.47 378,825,938.91
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
合并主营业务成本本期数比上期数增长了99.57%，主要系同比增加本公司控股子公司上工（欧洲）控股有限责任公司上半年发生数所致。
5.33.2 母公司
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
缝制设备 53,485,920.12 57,280,441.18
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.34 主营业务税金及附加
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
营业税 103,957.97 110,265.66
城市维护建设税 233,052.79 198,451.21
教育费附加 83,299.84 81,268.16
其他 14,740.74 2,075.12
0.00 0.00
435,051.34 392,060.15
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.35 其他业务利润
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
收入 支出 利润 收入 支出 利润
材料销售 5,779,375.80 7,019,802.98 -1,240,427.18 6,186,489.38 7,882,569.73 -1,696,080.35
租赁费收入 11,434,947.25 2,071,653.81 9,363,293.44 6,050,224.96 121,488.31 5,928,736.65
劳务收入 64,384.79 64,384.79 67,778.12 0.00 67,778.12
四技服务 1,347,232.08 377,171.10 970,060.98 0.00 0.00 0.00
商标使用 925,921.99 52,067.47 873,854.52 0.00 0.00 0.00
其他 6,789,045.46 8,655,434.67 -1,866,389.21 3,302,985.73 1,111,077.23 2,191,908.50
26,340,907.37 18,176,130.03 8,164,777.34 15,607,478.19 9,115,135.27 6,492,342.92
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.36 财务费用
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
利息支出 36,193,891.60 13,484,238.74
减：利息收入 3,295,353.98 1,651,550.04
利息净支出 32,898,537.62 11,832,688.70
加：汇兑净损失 6,419,791.74 216,043.44
手续费等 692,061.17 678,346.64
40,010,390.53 12,727,078.78
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述财务费用本期数比上期数增加2.14倍，主要系同比增加本公司控股子公司上工（欧洲）控股有限责任公司上半年发生数以及本期同比增加汇兑净损失所致。
5.37 投资收益
5.37.1合并数
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
股票投资收益 23,200.00 65,350.00
债券投资收益
联营或合营公司分配来的利润 12,997,790.65 16,675,024.34
期末调整的被投资公司所有者权益净增减的金额
股权投资转让收益
股权投资差额摊销
投资减值准备
13,020,990.65 16,740,374.34
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.37.2母公司
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
股票投资收益 23,200.00 65,320.00
联营或合营公司分配来的利润 33,161,143.01 649,977.04
股权投资转让收益
股权投资差额摊销 -4,589,958.66 -4,655,350.30
28,594,384.35 -3,940,053.26
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
上述母公司投资收益本期同比增加约3253.4万元，主要系本公司本年度按照权益法确认的对控股子公司上工（欧洲）控股有限责任公司和上海申贝办公机械有限公司的投资收益所致。
5.38 补贴收入
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
出口贴息补贴 89,500.00 8,970.00
财政补贴 3,129.00
其他
89,500.00 12,099.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.39 营业外收入
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
地块补偿收入
处理固定资产净收益 1,503,828.99 473,373.37
罚款及补偿金收入 10,203,000.00
其他 5,100.00 355,052.01
11,711,928.99 828,425.38
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
本期营业外收入比上期大幅增加，主要是本期增加日本富士胶片株式会社支付的补偿费结余数所致。
5.40 营业外支出
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
项目 本期数 上期数
处理固定资产净损失 85,531.20 18,121.60
赔偿及罚款支出 8,189.38 47,210.56
捐赠支出 6,000.00
固定资产减值准备 0
其他 0 5,900.00
99,720.58 71,232.16
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
6．关联方关系及其交易
6.1 存在控制关系的关联方
6.1.1 存在控制关系的关联方简况
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
企业名称 与本公司 注册地址 主营业务 经济性质或 法定代表人
关系 类型
上海永德经济发展有限公司 子公司 上海 机电设备及配件、建筑五金气配 有限公司 张一枫
上海富华轻机有限公司 子公司 上海 生产销售服装、缝制设备等 有限公司 陈明其
上海工业缝纫机物产总公司 子公司 上海 缝制设备制造、经营及兼营百货 有限公司 陈惠明
南通上工缝纫机有限公司 子公司 南通 缝制设备等 有限公司 蒋金荣
无锡上工缝纫机有限公司 子公司 无锡 缝制设备等 有限公司 胡炜
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
6.1.2 存在控制关系的关联方的注册资本及其变化
(金额单位：万元)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
企业名称 期初数 本期增(减) 期末数
上海永德经济发展有限公司 200.00 - 200.00
上海富华轻机有限公司 USD100.00 - USD100.00
上海工业缝纫机物产总公司 460.00 - 460.00
南通上工缝纫机有限公司 80.00 - 80.00
无锡上工缝纫机有限公司 50.00 - 50.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
6.1.3 对存在控制关系的关联方所持股份及其变化(金额单位：万元)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
企业名称 期初数 本期增/(减) 期末数
金额 % 金额 % 金额 %
上海永德经济发展有限公司 160.00 80 - - 160.00 80
上海富华轻机有限公司 316.50 55 - - 316.50 55
上海工业缝纫机物产总公司 460.00 100 - - 460.00 100
南通上工缝纫机有限公司 52.00 65 - - 52.00 65
无锡上工缝纫机有限公司 40.00 80 - - 40.00 80
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
6.2 不存在控制关系但有关联交易的关联方
6.3 关联交易事项
6.4 关联方应收应付款项余额
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
关联方名称 款项余额性质 期末数 期初数
上海永德经济发展有限公司 其他应收款
上海富华轻机有限公司 应收账款 659,286.58 659,286.58
上海上工针业有限公司 其他应付款 1,282,262.69
上海工业缝纫机物产总公司 其他应付款 2,296,470.25 2,076,216.27
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
7．或有事项及承诺事项
7.1 截至2005年12月31日止，本公司对外担保情况如下：
7.1.1 本公司母体对合并报表范围以外的单位担保借款余额共计13,900万元，担保期限自2005年1月至2006年7月。
上述担保借款系对上海华源企业发展股份有限公司（下称“华源发展”）的借款担保13,900万元，其中截至2006年6月30日已经逾期的借款额为9,000万元，2006年7月1日到2006年7月20日期间逾期的借款额为4,900万元。
2006年2月24日，本公司和华源发展签订了反担保协议，以华源发展持有的新余华源远东纺织有限公司95%的股权和上海华源针织时装有限公司88.53%的股权作为本公司对华源发展银行借款13,900万元提供担保的反担保质押标的。
7.2.2 本公司合并报表范围内部公司之间互相担保借款余额为10,750万元。
7.2 根据本公司与德国FAG Kugelfischer GmbH（下称“FAG公司”）签订的德国DA公司股份转让协议，本公司需要对下述事项承担一定的连带担保责任：
7.2.1 根据协议，收购德国DA公司除了支付949,821欧元的股份对价款之外，本公司的下属全资子公司上工（欧洲）公司还需要承担对FAG 公司36,525,132.28欧元的股东贷款对价。截至报告期末，已经支付了股份对价款以及9,482,436.84欧元的股东贷款，剩余的27,042,695.44欧元股东贷款由本公司下属全资子公司上工（欧洲）自2005年6月30日后第二个周年日（2007年6月30日）开始分九年等额支付，分期付款的利息自2005年6月30日起按照6%的年利率计算利息，并从2005年6月30日起每年支付一次。
对于上述上工（欧洲）的支付义务，本公司承担连带担保责任，但是对于剩余股东贷款对价以及应计利息所承担的连带责任以其实际数额的50%为限，且最高额不超过12,500,000.00欧元。
7.2.2 本公司向FAG公司出具了金额不超过530万美元的担保函，担保期限从2005年6月30日至2015年10月31日；同时上工（欧洲）于2005年6月30日向FAG 公司提供了62.2万欧元、同等期限的现金质押，以对FAG公司为德国DA公司的注册于美国的一家子公司与UTF Norcross L.L.C.之间的房屋售后回租交易所提供的担保提供再担保。
8．资产负债表日后事项中的非调整事项
无资产负债表日后事项中的非调整事项。
9．其他重要事项
2006年5月22日，公司A股市场相关股东会议审议通过了公司股权分置改革方案：公司主要非流通股向流通A股股东每10股支付6.0股的对价；募集法人股股东不获得对价；B股股东不参与股权分置改革。
2006年6月15日，公司A股股票更名为“G上工”，恢复上市交易。
八、备查文件目录
载有董事长亲笔签名的中期报告正本及摘要；
载有法定代表人、主管会计工作的负责人、会计机构负责人签名并盖章的会计报表；
报告期内在中国证监会指定报刊上公开披露过的所有公司文件的正本及公告原稿；
公司章程文本；
其他有关资料。
上工申贝（集团）股份有限公司
董事长：张敏
2006年8月24日
2006 INTERIM REPORT
SGSB GROUP CO., LTD.
600843, 900924
August 24th, 2006
CONTENTS
I. Important Note
II. Company Profile
III. Variation of Share Capital and Information about Shareholders
IV. Information about Directors, Supervisors and Senior Managerial Team
V. Business Prospects and Analysis at Management Level
VI. Significant Events
VII. Financial Report (un-audited version)
Balance Sheet
Profit/Loss and Profit Appropriation Statement
Cash Flow Statement
Annotations of the Financial Interim Report
VIII. For Reference
I. Important Note
1. The Board of Directors，the Board of Supervisors, and all the individual directors, supervisors, senior managers, guarantee that there are no false statements, vital misunderstanding or important omissions in this report, and hold both individual and joint liability for the authenticity, accuracy and integrity of its contents.
2. The Independent Director Mr. Jiang Hengjie was absent from the meeting of BOD for official duties, and he made a written entrust for another Independent Director Mr. Wang Zhile to vote in the meeting.
3. The Interim Report hasn’t been audited.
4. As particular emphasis, Mr. Zhang Min, Chairman of BOD & CEO, Mr. Ma Mingliang, Deputy Chairman of BOD & CFO, and Ms. Xu Xiaohui, Accounting Manager, make the pledge for the authenticity and integrity of the attached financial statements in the Interim Report.
II. Company Profile
Profile of the Company
Legal name of the Company: SGSB Group Co., Ltd.
Abbreviation: SGSB
Registered stock exchange: Shanghai Stock Exchange
Stock Code: A Shares - 600843 Abbreviation: G SG A Shares
B Shares - 900924 Abbreviation: Shanggong B Shares
Register address: 1201 Luoshan Road, Pu Dong New Area, Shanghai
Office address: 12th Floor, Orient Mansion, No.1500 Century Avenue, Pudong New Area, Shanghai
Post Code: 200122
Web Site: http://www.sgsbgroup.com
E-Mail: sgsb@sgsbgroup.com
Legal representative: Zhang Min
Secretary to Board of Directors: Zhang Yifeng
Tel: 86-21-6840 7515
Fax: 86-21-6330 2939
E-mail: zyf@sgsbgroup.com
Stock affairs representative: Zhou Yongqiang
Tel: 86-21-6840 7700*728
Fax: 86-21-6330 2939
E-mail: zyq@sgsbgroup.com
Contact Address: 12th Floor, Orient Mansion, No.1500 Century Avenue, Pudong New Area, Shanghai
Press for news release: Shanghai Securities News and Hong Kong Commercial Daily
Web address stipulated by China Securities Regulatory Commission to carry current Interim Report: http://www.sse.com.cn
Place for consulting the Company’s current Interim Report: office of the BOD
Other relevant information
1) Date of original register: December 16, 1993
Date of last-time register-variation: February 7, 2005
Register institution: Shanghai Municipal Industrial and Commercial Admin.
Business license register No.: QGHZZ 019029
Tax register No.: GSHZ 310 115 132 210 544
Public accountants contracted by the Company
Domestic auditor: Shanghai Zhonghua Certified Public Accountants
12F, 550 Yan’an Road (E), Shanghai
International auditor: BDO International Certified Public Accountants
12F, 550 Yan’an Road (E), Shanghai
Advisor for legal affairs: Shanghai Zhendan Law Office
16F, 1688 Sichuan Road (N), Shanghai
Financial Highlights
Important accounting and financial figures:
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Atendofreportperiod Atendofanteriorreportyea Increase/decrease%
r
Currentassets 1,412,189,139.72 1,439,871,280.28 -1.92
Currentliabilities 917,629,429.17 1,007,886,006.53 -8.96
Totalassets 2,413,979,045.84 2,442,150,302.38 -1.15
Shareholders’equity(minorityinterestexclude 568,396,482.27 565,889,885.70 0.44
d)
Netassetsvaluepershare 1.2662 1.2607 0.44
Adjustednetassetsvaluepershare 1.1529 1.2691 -1.39
January~June,2006 Duringthesameperiodoflas Increase/decrease%
tyear
Netprofit 803,610.54 -35,199,980.17 102.28
Netprofitafternon-currentaccountprofit/(loss -10,817,421.17 -35,509,655.97 69.54
)
Earningpershare(diluted) 0.0018 -0.078 102.31
Returnonnetassets(%) 0.1414 -4.28 4.4214more
Netcashflowsgeneratedfromoperatingactivities 7,288,789.46 -74,117,301.34 109.83
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Deducted terms of non-recurrent account profit/loss (after income tax impact):
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Non-recurrentaccountprofit/loss Sum
Subsidies 68,467.50
Non-operatingincomes 11,641,601.00
Non-operatingexpenses 89,036.79
Total 11,621,031.71
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Return on net assets and earning per share according to the Circular No. 9 by China Securities Regulatory Commission:
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Profitsinreportterm Returnonnetassets(%) Earningpershare
Diluted Weighted Diluted Weighted
Principaloperatingprofit 49.13 49.24 0.6221 0.6221
Administrativeprofit 5.31 5.33 0.0067 0.0067
Netprofit 0.14 0.14 0.0018 0.0018
Netprofitafternon-recurrentaccou -1.91 -1.91 -0.0241 -0.0241
ntprofit/loss
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
III. Variation of Share Capital and Information about Shareholders
Variation of stock capital
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Beforecurrentvariatio Increase/decreaseinthereportperiod Aftercurrentvariation
n Ration Bonusshares Bypubli Other Total
shares creserv
e
Sum Propor- Sum Propor-t
tion(%) ion(%)
1.Conditionally
tradableshares
1)State-ownedsh 132,841,017 29.59 132,841,017 29.59
ares
2)Sharesheldbys 21,899,907 4.88 21,899,907 4.88
tate-ownedunits
3)Othershareshe
ldbydomesticcap
ital
Including:bydom 17,192,500 3.83 17,192,500 3.83
esticlegalperso
ns
bydomesticindiv
iduals
4)Sharesheldbyf
oreigncapital
Including:byfor
eignlegalperson
s
byforeignindivi
duals
Subtotal 171,933,424 38.30 171,933,424 38.30
2.Tradableshare
s
1)TradableAshar 33,009,603 7.35 33,009,603 7.35
es
2)Bshares 243,943,750 54.35 243,943,750 54.35
3)Bsharesissued
abroad
4)Others
Subtotal 276,953,353 61.70 276,953,353 61.70
3.Totalequities 448,886,777 100 448,886,777 100
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
On May 22, 2006, the Company convened a meeting among the concerned shareholders considering the reform proposal of non-tradable shares. Shanghai Pudong New Area State-owned Assets Management Commission (PSAMC), Shanghai International Trust and Investment Co., China Oriental Assets Management Co. (COAMC) and China Great Wall Asset Management Co. (GWAMCC) agreed to pay the consideration proportionally to all the stockholders of tradable A shares, in exchange of the tradable right of all the non-tradable shares. The stockholders of tradable A shares could get 6 plus for 10 shares and the consideration totaled 12,378,601 shares. PSAMC paid advance for the portions of COAMC and GWAMCC.
Information about shareholders
Number of shareholders and distribution of stock capital
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Numberofshareholders 29,606,including11,815Astockholdersand17,791Bstockholders
Toptenshareholders
Shareholder Classific Proportion(% Quantityofsharesa Increase/decrea Quantityofcond Quantityinp
ationofsh ) sofJune30,2006 se itionallytrada awnorfrozen
areholder bleshares
ShanghaiPudongNewAreaAsset State-own 24.03 107,870,050 -10,626,704 107,870,050 0
sManagementCommission ed
ShanghaiInternationalTrust Legalpers 4.88 21,899,907 -1,751,897 21,899,907 0
andInvestmentCo. on
HonourForceInvestmentLtd. Foreignca 4.61 20,712,467 Unknown
pital
ChinaOrientalAssetManageme State-own 3.38 15,185,651 15,185,651 Unknown
ntCo. ed
MainForceAssetsLimited Foreignca 2.82 12,650,000 Unknown
pital
MESABIAssetsLimited Foreignca 2.69 12,075,000 Unknown
pital
ShanghaiIndustrialAssetMan Foreignca 2.38 10,695,000 Unknown
agementCo.(HK) pital
ChinaGreatWallAssetManagem State-own 2.18 9,785,316 9,785,316 Unknown
entCo. ed
NormalWinAssetsLimited Foreignca 1.85 8,305,162 -208,600 Unknown
pital
BankofChinaShanghaiBranch Legalpers 1.41 6,309,648 6,309,648 Unknown
on
Toptentradablestockshareholders
Shareholder QuantityoftradablesharesasofJune30,200 Classification
6
HonourForceInvestmentsLtd. 20,712,467 Bshares
MainForceAssetsLimited 12,650,000 Bshares
MESABIAssetsLimited 12,075,000 Bshares
ShanghaiIndustrialAssetsManagementCo.(HK) 10,695,000 Bshares
NormalWinAssetsLimited 8,305,162 Bshares
Shenyin&WanguoSecuritiesCo.,Ltd.(HK) 4,082,178 Bshares
WeiyaInternationalIndustrialLtd. 3,430,361 Bshares
NAITOSecuritiesCo.,Ltd. 3,373,484 Bshares
WangJinling 2,200,000 Bshares
HuYunjing 2,194,300 Bshares
Explanationforaffiliatedtransactionrelationshiporconcer ItremainsunknowntotheCompanyifthereexistanyaffiliatedtransa
ted-actionrelationshipbetweenthemainshareholders ctionrelationshiporconcerted-partyrelationshipbetweenSGSB’
stoptentradablestockshareholdersandtoptenshareholders.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Variation of the holding shareholder and real controller:
During report period, the holding shareholder and real controller of the Company didn’t change.
Information about Directors, Supervisors and Senior Managerial Team
Variation of shares held by senior managerial team
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Name Position Numberofsharesbegin Numberofsharesend-p Reasonforvariation
ning-period eriod
MaMinliang VicechairmanofBOD,CFO 3,450 5,520 Considerationfromnon-tradables
tockreform
WangLixi GeneralManager,COO 3,968 6,349 Considerationfromnon-tradables
tockreform
HeZhongyuan ChairmanofBOS 6,745 10,792 Considerationfromnon-tradables
tockreform
ChenMingqi DeputyGeneralManager 1,984 3,174 Considerationfromnon-tradables
tockreform
ZhangYifeng SecretarytoBOD 3,161 5,058 Considerationfromnon-tradables
tockreform
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Appointment and dismissal of Directors, Supervisors and senior managers
On June 26, 2006, the Company organized the 2005 Annual General Meeting of Shareholders, in which the shareholders made the following decisions:
elected the members of SGSB’s Fifth BOD: Mr. Zhang Min, Mr. Ma Minliang, Mr. Wang Lixi, Mr. Gu Jian, Mr. Chang Jiang, Mr. Jia Chunrong and Mr. Shen Yibo as Directors, Mr. Liu Rende, Mr. Wang Zhile, Mr. Jiang Hengjie and Mr. Gong Longyun as Independent Directors;
elected the members of SGSB’s Fifth BOS: Mr. He Zhongyuan and Mr. Wang Jie as Supervisors, and Ms. Jiang Xiaoshu as Employee Supervisor elected by the Employees’ Assembly.
The first session of the Fifth BOD, on June 26, 2006, elected and designated Mr. Zhang Min as Chairman of BOD and CEO, Mr. Ma Minliang as Vice Chairman of BOD and CFO, Mr. Wang Lixi as General Manager and COO, Mr. Chen Mingqi, Mr. Chen Changbao and Mr. Xu Weikun as Deputy General Managers, Ms. Xu Xiaohui as Finance Director, Mr. Zhang Yifeng as Secretary to BOD and Mr. Zhou Yongqiang as Representative of Stock Affairs.
The first session of the Fifth BOS, on June 26, 2006, elected Mr. He Zhongyuan as Chairman of BOS.
V. Business Prospects and Analysis at Management Level
Business prospects and analysis at management level
During report period, the Company developed step by step its business in line with the targets set at the beginning of the year.
Growth of overseas operations: Durkopp Adler AG, controlled by the Company’s overseas wholly-owned subsidiary Shanggong (Europe) Holding Co., Ltd., achieved growth both in the income and gross profit rate of its principal operating activities in the first half of current year and the net profit has surpassed that of the whole last year. DA’s operation has occupied 2/3 of the Company’s overall business, and the boom of its business will not only influence the profit/loss of the Company, but also win time and space for the restructure and reform of the Company’s domestic principal operating activities.
Development of the joint-venture project: with purpose of playing full advantage of DA’s technology and trademark recourses and winning integrated effects, the Company started the preparation for establishing joint-venture sales and production units of industrial sewing machines. Durkopp Adler Trading (Shanghai) Co. Ltd., whose preparations has been completed, will be in operation in the coming August. And the project of Durkopp Adler Industrial Manufacturing (Shanghai) Co. Ltd., now at the preparatory stage following the requirements to develop simultaneously the foundation of the entity and the trial of new products, will also put into operation in September, 2006. The first batch of products, including four types of sewing machines, is at the R&D and batch-trial stage under the instruction of German technicians.
Advances of internal adjustment: parallel to define high-rank sewing machines as core business, the Company realized a thorough restructure and adjustment among the domestic sewing machinery manufacturers under its control in line with the strategy of “stressing core business, quitting from sidelines, adjusting in proper order, and taking efficiency as priority”. Such restructure and adjustment in HR, products, technology and administration, has created positive environments for the Company to reduce the loss and even turn loss into earning in its principal domestic operations.
During report term, the Company produced and sailed respectively 34,300 units and 44,339 units of industrial sewing machines (DA’s 9,010 units of production and 8,774 units of sales included). And the production and sales of household sewing machines respectively reached 54,696 units and 58,412 units.
During report term, the Company realized an exportation valued USD 28,917,000 (DA’s contribution excluded), an increase of 2.12 % to the same period of last year.
Review of business performance during report period
Principal operating activities by products and sectors:
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Bysectororproduct Principaloperatin Principaloperatin Rateofgrossm Increase/de Increase/dec Increase/dec
gincome gexpenses argin(%) creaseofinc reaseofexpen reaseofgross
ome(%) ses(%) margin(%)
Sewingmachinesandmateri 860,131,038.87 596,972,798.85 30.60 338.47 229.56 22.94more
altransmissionequipment
s
Internationaltrade 111,942,897.02 104,709,499.60 6.46 6.58 3.02 3.23more
Officeequipments 30,512,445.18 27,735,307.72 9.10 -38.27 -34.53 3.13more
Productionoffilmsandvid 26,056,820.02 22,310,395.62 14.38 0.53 6.92 6.85more
eomaterials
Others 7,062,876.47 4,302,595.68 39.08 -78.15 -85.52 31.02more
Including:relevanttrans - - - - - -
actions
Pricingpolicyofrelevant -
transactions
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Sewing machines and international trade are the sectors whose manufacture and sales value respectively contribute 10% or more to principal operating income of the Company, while sewing machines and office appliances respectively contributes 10% or more to principal operating profit.
Structure of principal operating income:
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Proportioninprincipaloperatingprofit(%)
Sewingmachinesandmaterialtransmissionequipment 83.05
Foreign-tradecommodities 10.85
Officeequipments 2.95
Sensitivefilms 2.52
Others 0.68
Total 100.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Division of principal operating activities by regions:
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Region Principaloperatingincome Increase/decrease(%)
Home 113,731,263.76 -53.62
Abroad 921,974,813.80 478.92
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Business performance of the undertakings of whom the investment earning contributes 10% or more to the net profit of the Company:
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Company Businessscope Netprofit ContributiontotheC Proportioninthetot
ompany alnetprofit(%)
ShanghaiFuji-XeroxCo.,Ltd. Productionandsalesofcopymac 46,522,287.32 9,164,368.05 1140.4
hines
ShanghaiShensiLogisticsCo.,Lt Transportandlogisticsservic 44,039,918.64 1,959,039.52 243.78
d. es
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Explanation about the significant change of principal operating activities and their structure:
The significant change of the structure of principal operating activities is mainly due to the contribution of the newly-established overseas wholly-owned subsidiary Shanggong (Europe) Holding Co., Ltd. Durkopp Adler AG, controlled by Shanggong (Europe) Holding Co., Ltd., has sewing and materials transmission machinery as principal operating activities, and makes the percentage composition of this sector 83.05% of the whole principal operating income, instead of 48.5% of the same period in last year, thus impacts the composition of other sectors.
Explanation about the significant change of principal operating profitability:
The significant increase of principal operating profitability is mainly due to the contribution of the newly-established overseas wholly-owned subsidiary Shanggong (Europe) Holding Co., Ltd., whose subsidiary Durkopp Adler AG achieves a gross profit rate of 37.55%.
Analysis for the significant change of the profits’ composition:
Because of the contribution from the overseas wholly-owned subsidiary Shanggong (Europe) Holding Co., Ltd. and its Durkopp Adler AG with high profitability, the principal operating profit of sewing machines and materials transmission equipments occupies 94.09% of the whole profits and makes influence on the proportion of other sectors and the profits’ composition.
Operating achievements and current financial situation
Utilization of raised funds:
RMB’000
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Totalraisedfunds Current-yearutilizedamount
Accumulatedutilizedamount
Committedproject Plannedinvestme Projectch Realizedinve Currentyearea Progressassc Incomeasantic
ntamount angedorno stmentamount rning heduledornot ipatedornot
t
AcquisitionofDurkoppAdlerAG 200,960 No 150,603 20,509.1 - -
Productionprojectofcomputerize 195,000 No 19,447.7 - - -
dspecial-purposedindustrialsew
ingmachinesavailingtechnologyo
fDA
Total 395,960 / 170,050.7 - - -
Explanationfornotgettinganticipatedprogressorin -
come
Reasonsandproceduresforvariation -
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
1) On July 1, 2005, Shanggong (Europe) Holding Co., Ltd., the Company’s overseas wholly-owned subsidiary, completed all the formalities for the acquisition of Durkopp Adler AG, which contributed an earning of RMB 4,616,300 for the Company in the same year. During report period, DA achieved a profit of RMB 15,892,800 for the Company and the total earning in this acquisition accumulated to RMB 20,509,100.
2) The Company is concentrating its efforts to avail DA’s advanced technology to realize the R&D of several products suitable for Asian markets and organize localized production. The first batch, with four new types of sewing machines, is on its way to the market.
Utilization of non-raised funds:
During report period, the Company didn’t develop any project using non-raised funds.
Significant Events
Administrative structure of the Company
During report period, SGSB Group Co., Ltd. completed the reform of non-tradable shares with an affirmative rate of 99.96% among all the concerned A stockholders (98.06% affirmative among all the tradable A stockholders), and its A shares returned to be tradable on June 15, 2006.
The Company also revised the and normalized its administration according to the amended , , among other regulations and stipulations.
Besides, the Company has finished the reelection of the Board of Directors and the Board of Supervisors, and designated the new generation of senior managers. Actually, the administration of the Company accords with the requirements of China State Securities Regulatory Committee.
Effectuation of proposals about profit appropriation, distribution of shares by capitalizing reserve fund and issue of new shares
The 2005 Annual General Meeting of Shareholders has considered and passed the resolution on profit appropriation that the Company won’t appropriate profits or issue new bonus shares by capitalizing its capital reserve fund.
During report period, SGSB Group Co., Ltd. didn’t appropriate profits or issue bonus shares utilizing its capital reserve fund.
Significant litigation and arbitration cases during report period
During report period, SGSB Group Co., Ltd. didn’t get entangled in any litigation or arbitration cases.
Significant acquisition/transfer of assets, assets restructure and merger
During report period, the Company hasn’t made any significant acquisition or transfer of assets, assets restructure or merger.
Significant affiliated transactions during report period
During report period, the Company has no significant acquisition, transfer or merger of assets to announce.
During report period, the Company hadn’t any exchange of creditor’s rights and liabilities with its affiliated parties.
Significant trusteeship cases
There were no significant trusteeship cases in which the Company was concerned during report period.
Contract relationship
During report period, the Company didn’t commit any significant contracts.
Leasing affairs
During report period, the Company didn’t commit any leasing cases.
Guaranty affairs
RMB’000
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Externalguaranties(forsubsidiaryundertakingsexcluded)
Companyunderguaranty Dateincurredd Amountunde Category Durationdd/mm/ Completed(Y Affiliatedpa
d/mm/yy rguaranty yy /N) rty(Y/N)
ShanghaiWorldbestEnterpriseDe 11/11/2004 30,000 Joint-liability 11/11/2004-09/ N N
velopmentCo.,Ltd. guaranty 11/2005
ShanghaiWorldbestEnterpriseDe 29/03/2005 10,000 Joint-liability 29/03/2005-29/ N N
velopmentCo.,Ltd. guaranty 09/2005
ShanghaiWorldbestEnterpriseDe 27/05/2005 10,000 Joint-liability 27/05/2005-23/ N N
velopmentCo.,Ltd. guaranty 05/2005
ShanghaiWorldbestEnterpriseDe 13/06/2005 10,000 Joint-liability 13/06/2005-29/ N N
velopmentCo.,Ltd. guaranty 09/2005
ShanghaiWorldbestEnterpriseDe 06/06/2005 30,000 Joint-liability 06/06/2005-01/ N N
velopmentCo.,Ltd. guaranty 06/2006
ShanghaiWorldbestEnterpriseDe 14/07/2005 30,000 Joint-liability 14/07/2005-04/ N N
velopmentCo.,Ltd. guaranty 07/2006
ShanghaiWorldbestEnterpriseDe 26/02/2006 19,000 Joint-liability 26/02/2006-23/ N N
velopmentCo.,Ltd. guaranty 07/2006
Totaloccurred 19,000
Totalbalance 139,000
Guarantiesforsubsidiaryundertakings
Totaloccurred 70,000
Totalbalance 255,520
Guarantiesincludingthoseforsubsidiaryundertakings
Totalbalance 394,520
ProportionoftotalguaranteebalanceintheCompany’snetassets(%) 69.41
Guarantiesfortheshareholders,realcontrolleranditsaffiliatedparties 0
Guaranteesdirectlyorindirectlyforcompanieswhoseassets-liabilityratioover70% 176,020
Totalbalancesurplus50%netassetsoftheCompany 0
Totalbalanceofout-of-lineguaranties 176,020
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The Company contracted a mutual-guaranty agreement with Shanghai Worldbest Enterprise Development Co., Ltd. (SWEDC). At the end of report period, the Company offered seven guaranties for SWEDC, among which five guaranties, an amount of RMB 90,000,000, were overdue. On Feb. 24, 2006, the Company signed a counter-guaranty document with SWEDC, who agreed to offer the 95% stock equity of Xinyu Worldbest Fareast Textile Co., Ltd. and the 88.53% stock equity of Shanghai Worldbest Jersey Costume Co., Ltd. as mortgage for the counter-guaranty which permitted the Company to borrow RMB 139,000,000 from Worldbest Development Bank.
According to the stock equity transfer agreement with FAG Kugelfischer AG, the Company offered a guaranty, to the maximum 12,500,000 euros at the end of report period, for that Shanggong (Europe) Holding Co., Ltd. paid the bank borrowings originally by FAG. Besides, the Company offered a guaranty, whose balance less than USD 5,300,000, for the housing lease contract of subsidiaries of Durkopp Adler AG in USA.
Trust investment affairs
During report period, the Company didn’t entrust any entities to do investments.
Fulfillment of publicly announced commitments
During report period, there occurred no significant commitments, nor those of previous periods that extended the impact to current report term concerning the Company or its principal shareholders (holding 5% or more of SGSB’s stock right) that may influence the operating or financial situation of the Company. The originally non-tradable stock shareholders haven’t made any commitments in the reform of non-tradable shares.
Punishment on the Company, its BOD and Directors
The Board of Directors, in whole or in individual, or the Company itself, hadn’t received any check, administration punishment or notice of criticism from China Securities Regulatory Commission, nor been publicly condemned by Shanghai Stock Exchange.
Other significant events
On disclosing current report, all the seven guaranties for Shanghai Worldbest Enterprise Development Co., Ltd., an amount of RMB 139,000,000, have been overdue. The Company is taking active measurements to reduce the impact and loss of these overdue external guaranties.
On disclosing current report, Shanghai Pudong Development (Group) Co., Ltd. (SPDC) has agreed to offer guaranty for the Company’s bank borrowing of RMB 168,120,000. On request of SPDC, the Company will also make the stock right of SMPIC Co. (54.4% of the 90% equity held by the Company) as counter-guaranty for SPDC.
Index of information announcements
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Announcement NewspaperandPageNo. dd/mm/yy Internettrack
L2006-001,Announcementaboutreceivingcompensat ShanghaiSecuritiesNewsC25HKCommer 05/01/2006 www.sse.com.cn
ionfortheexternalinvestmentsofSGSB(Group)Co., cialDailyB5
Ltd.
L2006-002Resolutionsofthe24thmeetingoftheFour ShanghaiSecuritiesNewsC23HKCommer 22/03/2005 www.sse.com.cn
thBOD cialDailyB3
L2006-0032005AnnualBulletinand2006First-Quart ShanghaiSecuritiesNewsC27HKCommer 12/04/2006 www.sse.com.cn
erReportofSGSB cialDailyA10
L2005-004Resolutionsofthe25thmeetingoftheFour ShanghaiSecuritiesNewsC16 17/04/2006 www.sse.com.cn
thBOD
L2006-005Reminderannouncementforthetradingsus ShanghaiSecuritiesNewsC16HKCommer 17/04/2005 www.sse.com.cn
pensiononstockofSGSB cialDailyA7
Introductionaboutthereformofnon-tradableshare ShanghaiSecuritiesNewsC16 17/04/2006 www.sse.com.cn
sofSGSB(Resumedversion),Noticeforcollectingvo
tingtrustonthereformofnon-tradablesharesofSGS
B
L2006-006Noticeforconveningthemeetingofthecon ShanghaiSecuritiesNewsC16 17/04/2006 www.sse.com.cn
cernedAstockshareholders
L2006-007AnnouncementoforganizingInternetdisc ShanghaiSecuritiesNewsC68 18/04/2006 www.sse.com.cn
ussionofshareholdersforthereformofnon-tradabl
eshares
L2006-008Resolutionsofthe26thmeetingoftheFour ShanghaiSecuritiesNewsC46HKCommer 22/04/2006 www.sse.com.cn
thBOD cialDailyB8
L2006-009Resolutionsofthe20thmeetingoftheFour ShanghaiSecuritiesNewsC46HKCommer 22/04/2006 www.sse.com.cn
thBOS cialDailyA5
AbstractofSGSB’s2005AnnualReport ShanghaiSecuritiesNewsC44HKCommer 22/04/2006 www.sse.com.cn
cialDailyB7
L2006-010Summaryofthediscussionandnegotiation ShanghaiSecuritiesNewsB68 26/04/2006 www.sse.com.cn
withshareholdersforthereformofnon-tradablesha
resandtheamendmenttothereformproposal
SGSB2006First-QuarterReport ShanghaiSecuritiesNewsB82HKCommer 28/04/2006 www.sse.com.cn
cialDailyB9
L2006-011Resolutionsofthe27thmeetingoftheFour ShanghaiSecuritiesNewsB82HKCommer 28/04/2006 www.sse.com.cn
thBOD cialDailyB9
L2006-012Announcementforgettingapprovalofther ShanghaiSecuritiesNewsB16 09/05/2006 www.sse.com.cn
elatedstate-ownedassetsmanagementauthoritiesu
ponthereformproposalofnon-tradablesharesofSGS
B
L2006-013Firstreminderforconveningthemeetingo ShanghaiSecuritiesNewsB16 09/05/2006 www.sse.com.cn
fconcernedAstockholders
L2006-014Secondreminderforconveningthemeeting ShanghaiSecuritiesNewsB21 16/05/2006 www.sse.com.cn
oftheconcernedAstockholders
L2006-015Votingresultsofthemeetingoftheconcer ShanghaiSecuritiesNewsB18 23/05/2006 www.sse.com.cn
nedAstockholders
L2006-016Noticeforgatheringthe2006AnnualMeeti ShanghaiSecuritiesNewsB35 24/05/2006 www.sse.com.cn
ngofShareholders
L2006-017Announcementabouttheprogressoftheref ShanghaiSecuritiesNewsB21 30/05/2006 www.sse.com.cn
ormofnon-tradableshares
L2006-018Announcementabouttheprogressoftheref ShanghaiSecuritiesNewsB13 06/06/2006 www.sse.com.cn
ormofnon-tradableshares
L2006-019Announcementforgettingofficialreplyf ShanghaiSecuritiesNewsB27 09/06/2006 www.sse.com.cn
romtheMinistryofCommerceuponthereformproposal
ofnon-tradableshares
L2006-020Announcementforimplementingthereform ShanghaiSecuritiesNewsB18 12/06/2006 www.sse.com.cn
ofnon-tradableshares
L2006-021Resolutionsofthe2006AnnualMeetingofS ShanghaiSecuritiesNewsB14HKCommer 28/06/2006 www.sse.com.cn
hareholders cialDailyB4
L2006-022ResolutionsofthefirstmeetingoftheFif ShanghaiSecuritiesNewsB14HKCommer 28/06/2006 www.sse.com.cn
thBOD cialDailyB4
L2006-023ResolutionsofthefirstmeetingoftheFif ShanghaiSecuritiesNewsB14HKCommer 28/06/2006 www.sse.com.cn
thBOS cialDailyB4
L2006-024Noticefortheanticipatedearningduring ShanghaiSecuritiesNewsB16HKCommer 01/07/2006 www.sse.com.cn
thefirsthalfofyear2006 cialDailyB3
L2006-025Announcementforsigningintegratedcred ShanghaiSecuritiesNewsB14HKCommer 26/07/2006 www.sse.com.cn
itcontractwithFuminBranchofBankofShanghai cialDailyA5
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Financial Report
The 2006 interim financial statements and related annotations of SGSB Group Co., Ltd. haven’t been audited.
The un-audited financial statements, with composition of Balance Sheet, Profit/Loss and Profit Appropriation Statement and Cash Flow Statement, are attached following current interim report.
Annotations to financial statements are detailed in this chapter.
General information
SGSB Group Co., Ltd. (the Company), as a joint stock limited company with publicly issued A & B shares on Shanghai Stock Exchange, is the first listed company in the sewing machinery sector of People’s Republic of China. The Company got the business license authorized by local administration of industry and commerce in December, 1993.
The Company, with register capital of RMB 448,886,777, has 1201 Luoshan Road, Shanghai PRC as register address and Mr. Zhang Min as legal representative. The Company is mainly engaged in the manufacture and sales of industrial sewing machines and equipment. The variety of its sewing machines and sewing package solutions can satisfy different levels and requirements of the market and can be used in the sectors such as costume, knitting, underwear, leather articles, shoes, automotive, furniture, textiles and embroidery. Both Butterfly, the trademark for the Company’s household sewing machines, and Shanggong, for its industrial sewing machines, are awarded “Renowned Trademark of China”. And Durkopp Adler, professional trademark of the Company’s German subsidiary Durkopp Adler AG which produces specific-purposed industrial sewing machinery, as also generally recognized as worldwidely first-rank trademark of the sewing machinery sector. In recent years, the Company has been promoting actively R&D of new sewing machines and availing the advanced technology of Durkopp Adler AG (DA) to upgrade the existing products, develop new varieties, and transplant to China the manufacture of those DA’s products suitable for Asian market, so as to adapt itself to the increasing demands for automatic sewing machines.
At the meantime, the Company has also expanded its business in recent years, and entered material transmission equipment, office appliances, sensitive films, international trade and logistic industries.
Principal accounting policies and accounting estimations
Accounting system
The Company adopts “Accounting Norms for Business Enterprises”, “Accounting Systems for Business Enterprises” and related additional regulations in the preparation of its financial statements.
Accounting Calendar
The Company adopts the Gregorian calendar and defines every accounting year as beginning at January 1 and ending at the same December 31.
Measurement currency
The Company maintains its books and records in Renminbi (RMB).
Accounting basis and valuation principle
The Company adopts accrual basis as accounting basis and follows the historical cost convention for the preparation of its statements. All the assets are stated at real cost, and provision for depreciation will be accrued for the assets in line with accounting systems for business enterprises in case the devaluation occurred.
Foreign currency translation
Foreign currency transactions are translated into the measurement currency using the exchange rates prevailing at the date of the transactions (quoting the intermediate price of foreign currency exchange issued by People’s Bank of China). At the end of every report period, the remaining sum in the Company’s foreign currency account will be adjusted for the applicable rate of exchange ruling at the same date. The difference between the Renminbi amount and the original book value will be accounted as foreign exchange gains and losses. Those foreign exchange gains and losses resulting from specific-purpose loans for buy-construct of fixed assets will be capitalized into cost before the assets are available for operation. Those gains and losses in preparation period are recognized as long-term deferred expenses into the profit/loss statement of current month when the company begins the operations. And those in normal operation period are directly accounted into current profit and loss.
Cash equivalent
For the purpose of the cash flow statement, cash equivalent comprises short-term investments with maturity within three months that are characterized with active fluidity, easy to transfer to realizable value and less risky for value fluctuation.
Calculation of short-term investments
Short-term investments are stated according to the real payment on purchase less the declared but not realized cash dividend or interests. The dividend or interests received during the holding period are made to offset the investment costs. And shore-term investments are recognized as profit or loss with the sum of real receipt after deduction of book cost and accounted into current profit and loss.
At end of report period, short-term investments are stated at the lower of cost or current price. The Company accrues depreciation provision of short-term investments for the difference adopting single comparison and states them in current profit and loss.
Calculation of bad debts
The loss of bad debts of the Company is accounted with the allowance method. The analysis of age distribution has been adopted, and the provision for bad debts has been accounted, following the proportion listed here, according to the remaining sum of charges receivable (including the trade and other receivables) and their age distribution. On occurring the bad debts, the credit against allowance for bad debts is made after completing the set formalities.
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Agedistribution Provisionproportion
Withinoneyear 5%
1-2years 20%
2-3years 50%
Over3years 100%
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The bad debt recognition principles of the Company are: (1) due to the bankruptcy or death of a debtor, those funds which are still unable to be recovered even after the liquidation of the bankrupt assets or after repayments are made from the debtor’s estate; or, (2) due to a debtor failing to meet repayment obligations and there is conclusive evidence that those funds are unable to be recovered, subject to approval by the Board of Directors, the accrued bad debt provision shall be charged off. The assets loss which is higher than the accrued bad debt provision shall be recorded into the current loss and profit.
Accounting of inventories
The inventories of the Company comprise: inventory in transit, raw materials, low costs and short lived articles, packing articles, inventory products, material in outside processing and work in progress, etc. The inventories are stated at real cost on their purchase and are accounted with weighted average method on their delivery. Packing articles and low costs and short lived articles are amortized with on getting.
Inventories are stated at the lower of cost or net realizable value at end of report period. The provision for depreciation is accrued line-item according to the difference between net realizable value and cost and stated in current profit and loss.
Accounting of long-term investments
Long-term investments in stock interest (long-term investments in stocks and other long-term investments in stock right) are normally accounted at the price really paid less declared dividend or interests or at the value confirmed by different parties. Long-term investments are stated by equity method when occupying 20% or over in all the equity assets of the Company, or when occupying less than 20% but making significant impact on the invested entity. Whereas, it will be stated by cost method. The variance between the cost paid for the investment and the proportion of investment in the shareholders’ interest is treated as the difference of such investment, and is amortized by ten years in profit and loss of those amortization periods.
Long-term investments in credit (long-term investments in bonds and other long-term investments in credit) are accounted for the real cost produced. The difference between the real cost of such investment and the face value of the bonds is treated as premium or discount. The interest of bonds is calculated on period and the premium or discount of long-term investments in bonds is amortized with straight line method during the existing period.
Long-term investments are stated at the lower of cost or receivable value. The Company accrues provision for value decrease at variance of cost and receivable value case by case in those investments that the market price is dropping straight or the target enterprise’s performance is continuously deteriorating, and states them in profit and loss.
Calculation and depreciation of fixed assets
2.11.1 The fixed assets of the Company represent those tangible assets with service life more than one year, value more than RMB 2,000, and related to production of products, labor services, for lease or management. The assets are accounted for their real cost, and the provision for decrease in value is made with average year method. In case that the provision for devaluation is out of the consideration, the service year and the annual rate of depreciation are fixed as below, according to the category of the assets and their estimates of service life and net salvage (4% or 10% of original price).
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Category Serviceyear Annualrateofdepreciation
Houseandconstruction 20-50 1.92%-4.5%
Machineryandequipment 10-15 6.4%-9%
Motorvehicles 5-10 9.6%-19.2%
Furniture,fixturesandofficeequipment 5-10 9.6%-19.2%
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Under consideration of provision for depreciation, the decrease in value is accrued by itemized case in line with net book value after provision and remained service years.
2.11.2 At end of reporting period, the fixed assets are stated at the lower of net book value or receivable value. The variance of itemized asset is accrued with provision for depreciation and accounted into current profit and loss when the receivable sum is lower than the book value caused by (1) continuous drop of market price, (2) backward technology, (3) damage, or (4) long-term idleness.
Accounting of construction in progress
The constructions in progress of the Company are stated individually at cost. The cost is not transferred to fixed assets until such time as the relevant assets are completed and available for intended use. Before such time of being available for intended use the relevant assets, the interest of borrowing and translation of foreign currency directly related to the buy-build of construction in progress is capitalized and accounted into cost of construction.
The end-of-period construction in progress is stated at the lower of book value or receivable value, and the variance is accrued with provision for depreciation and stated into current profit and loss when the receivable value is less than the book value.
Accounting and amortization of intangible assets
The intangible assets represent those long-term non-monetary assets without physical type and related to production of products, labor services, for lease or management. They comprise principally trademark propriety, land use rights, patents and non-patent technology. The intangible assets are stated at cost and amortized into profit and loss during the beneficial period with installment.
The end-of-term intangible assets are stated at the lower of book value or receivable value, and the variance is accrued with provision for depreciation and stated into current profit and loss when the receivable value is less than the book value.
Amortization of long-term charges to be amortized
The long-term charges to be amortized represent those charges already paid and to be amortized after normal operation or during a period more than one year, and comprise principally open fees, payment for reforming rented assets. The open fees of the Company is stated into current profit and loss of the same month of opening, and other charges are amortized averagely in beneficial period and stated into every profit and loss period.
Anticipated liabilities
The Company recognizes the liabilities as anticipated liabilities only when the liabilities correlated with contingent matters satisfy simultaneously the following conditions: a. the liabilities should be assumed by the Company during the report term; b. the fulfillment of such liabilities is likely to cause a outflow of business benefits from the Company; c. the liabilities can be exactly stated.
Loan expenses
Loan expenses consist of those subsidiary expenses incurred by loan activities, such as interest, amortization of premium or discount, difference of foreign currency translation and service charges. Those loan expenses resulting from specific-purpose loans for buy-construct of fixed assets, if should, will be capitalized into fixed assets cost before the assets are available for operation. Those loan expenses, resulting from specific-purpose loans incurred after the availability of fixed assets or those loans that can’t be capitalized, in preparation period, should be recognized as long-term deferred expenses into the profit/loss statement of current month when the company begins the operations; and in normal operation period, should be directly accounted into current profit and loss.
Revenue recognition
2.17.1 Revenue from the sale of goods is recognized when, (1) significant risks and rewards of ownership of the goods are transferred to the buyer, (2) the Company doesn’t own the administration or control rights of the goods, (3) the relevant benefits probably have flown into the Company, and (4) the relevant revenue and cost can be precisely calculated.
2.17.2 Revenue from labor services is recognized when the services have been offered and the payment or receipt of payment has been delivered to the Company. In those cases which labor services are distributed in different periods, revenue from labor services is recognized at percentage-of-completion method when, (1) the precise percentage of completion and the total revenue can be calculated, (2) the relevant revenue can be flown in the Company, and (3) the relevant cost occurred and to be occurred can be precisely calculated. For long-term contracted construction, revenue is recognized at percentage-of-completion method when the completion of the contract can be reasonably foreseen.
2.17.3 Revenue from interests and occupancy expenses occurred by transfer of assets’ usage rights is recognized when the relevant economic benefits are in-flowed into the Company and can be precisely calculated.
Accounting of income tax
The Company adopts tax due method for the calculation of its income tax. The charge of income tax is based on the result for the period as adjusted for items which are non-payable or non-deductible and is provided at the rates applicable to the Company and its subsidiaries.
DA adopts asset/liability method for the calculation of its income tax. The charge of income tax is based on the result for the period as adjusted for items which are permanently different or non-deductible, and the timing difference is accounted into the deferred taxation item of the asset/liability statements.
Variation of accounting policy, accounting estimate, and correction of accounting errors
On June 26, 2006, the Company had its 2005 Annual General Meeting of Shareholders, in which the shareholders considered and approved to amend the . The amended constitution says that the Company should set aside 10% after-tax profit as statutory surplus reserve before distributing the current-year profit, unless the accumulated surplus reserve has reached 50% of the Company’s register capital. According to the circular CQ(2006)67 Notice about the Regulations of Accounting Treatment after the Trial Implementation of the Amended , of the Ministry of Finance, and the revised , the Company will not prepare statutory welfare reserve and the existing welfare reserve will also be transferred to the account of statutory surplus reserve.
Preparation of consolidated financial statements
Range of consolidation: in accordance with the regulations of the Ministry of Finance, the Company includes in the consolidated statements all those subsidiary undertakings which it dominates and those associated undertakings which it co-dominates, except those undertakings which have been closed, merged, transformed, declared to bankruptcy, those to be transferred soon, or those which have little influence upon the consolidation.
Accounting method adopted in the consolidation: the Company prepares the consolidated accounting statements, based on the consolidated sheets of the parent company, of subsidiary undertakings, and other information. In the process of the consolidation, the important internal transactions and current accounts in the range of consolidation are offset. And proportional consolidation method is adopted in the preparation of consolidated statements.
Treatment of the subsidiaries acquired or transferred during report period: for the subsidiaries acquired during report period, the Company includes into the consolidated statements their income, cost and profit from the date of acquisition to the end of report period; for the subsidiaries transferred during report period, the Company includes into the consolidated statements their income, cost and profit from the beginning of report period to the date of transfer. The Company doesn’t adjust the consolidated beginning data for the subsidiaries acquired or transferred during report period.
Taxation
V.A.T. (Value added tax)
The Company reports V.A.T. for the products and labor services, at a tax rate of 17%.
Turnover
The Company files business tax for the operating income at a tax rate of 5%.
Income tax
The Company settles income tax rated 15% of its total income taxable.
City infrastructure tax
The Company files city infrastructure tax at a rate of 7% of the total sum of V.A.T. and business tax.
Education subsidiaries
The Company reports education subsidiaries at a rate of 3% of the total sum of V.A.T. and business tax.
Subsidiary undertakings and associated companies
RMB’000
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Name Registeredcapi Principalactivities Investmentvo Attributabl
tal lume eequityinte
rest(%)
1.ShanghaiShanggongImp.&Exp.Co.,L 32,000 Importofelectricalandmechanicalmachine 28,800 90
td. ryandinstruments
2.ShanghaiFlyingManImp.&Exp.Co.,L 10,000 Importationandexportationforsewingmach 8,000 80
td. inesandothermechanicalandelectricalequ
ipment
3.ShanghaiShuanggongSewingMachine 12,000 Production,developmentandsalesofsewing 8,400 70
Co.,Ltd. machines
4.ShanghaiIndustrialSewingProprie 5,000 Proprietiesdevelopmentandprovisionofco 4,500 90.5
tiesDevelopmentCo.,Ltd. nsultationandmanagement
5.ShanghaiShangyuanTechnologyDeve 6,000 Designanddevelopmentofnewvarietiesofse 4,200 70
lopmentCo.,Ltd. wingmachines
6.ShanghaiSifang-TongjiPureWaterC 6,970 Manufactureandsalesofpurewaterandtechn 6,380 91.5
o.,Ltd. icaldevelopment
7.ShanghaiShanggongJiarongSewingM 4,000 Salesandassemblyofsewingmachinesandrel 2,200 55
achineCo.,Ltd. atedspares
8.ShanghaiShanggongFangtianMachin 3,000 Productionandsalesofindustrialsewingma 1,800 60
eryCo.,Ltd. chinesandcomponents
9.ShanggongXingdaSewingMachineCo. 3,100 Productionandsalesofzigzagsewingmachin 2,100 67.74
,Ltd. es
10.ShanghaiButterflyImp.&Exp.Co., 10,000 Importationandexportationofsewingmachi 8,000 80
Ltd. nesandmechanicalandelectricalequipment
11.ShanggongSongdaMachineryCo.,Lt 3,000 Productionandsalesofsewingmachineryand 1,950 65
d. relatedspareparts
12.ShanggongJiayuanMechanical&Ele 3,000 Productionandsalesofsewingmachineryand 2,010 67
ctricalTechnologyCo.,Ltd. relatedspareparts
13.ShanggongAssetsManagementCo.,L 30,000 Industrialinvestmentandmanagementconsu 27,000 90
td. lting
14.SMPICCorporation 125,000 Productionandsalesofofficeequipmentand 112,500 90
appliances
15.Shanggong(Europe)HoldingCo.,Lt ?10,000,000 Internationaltrade,managementofassets, ?10,000,000 100
d. manufacture,processandsalesofsewingmac
hines
16.DurkoppAdlerInternationalTradi US$1,500,000 Import&export,tradingofsewingmachinery US$600,000 40
ng(Shanghai)Co.,Ltd. ,materialtransmissionequipmentsandrela
tedspareparts
17.ShanghaiBaolingCompleteEnginee 550 Mechanicalandelectricalequipment,hardw 495 90
ringEquipmentCo.,Ltd. are,sparesforautomobiles
18.ShanghaiYongdeEconomicDevelopm 2,000 Salesofmechanicalandelectricalequipmen 1,600 80
entCo.,Ltd. t,hardware,etc
19.ShanghaiFuhuaLightIndustrialMa US$1,000,000 Productionandsalesofgarmentmachinery,t US$550,000 55
chineryCo.,Ltd. radeagency
20.ShanghaiIndustrialSewingMachin 4,600 Sewingmachines,spares,metalmaterials,e 4,600 100
esMaterialsTradingCompany tc.
21.NantongShanggongSewingMachines 800 Sewingmachinesandcomponents 520 65
Co.,Ltd.
22.WuxiShanggongSewingMachinesCo. 500 Sewingmachinesandcomponents 400 80
,Ltd.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The subsidiary undertakings No.1-No.15 have been included into consolidated financial statements of current report period. Durkopp Adler International Trading (Shanghai) Co., Ltd. is not included in the consolidated statements for that, although formally registered, it hasn’t begun normal operations at the end of report period.
The undertakings No.17-No.22, for its small assets scale and profit/loss balance and minor influence to the Company’s business performance, are not included in the consolidated financial statements.
Important notes for financial statements
Balance Sheet
Cash and bank
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asat1January,2006 Asat30June,2006
Item Originalcurrency AmounttoRMB Originalcurrency AmounttoRMB
Cash
Euros 41,197.98 417,389.09 34,165.78 327,297.92
Renminbi 393,402.62 474,382.46
Subtotal 810,791.71 801,680.38
Banking
US$ 15,477,926.16 123,755,306.40 16,273,355.39 131,329,232.66
JPY 1,722.93 119.69 5,239,719.93 360,052.59
Euros 10,524,240.24 106,624,235.15 11,356,518.22 108,792,037.59
Renminbi 118,934,732.08 205,385,588.28
Subtotal 349,314,393.32 445,866,911.12
Othermoney-capitals 31,887,311.69
Total 350,125,185.03 478,555,903.19
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Among the ending bank balance, the fixed deposits valuing USD 13,015,000 (due on Dec. 22, 2006) have been mortgaged to the bank in exchange of short-term loans of RMB 94,500,000.
Short-term investments
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asat1January,2006 Asat30June,2006
Item Investmentvolu Provisionford Netbookvalue Investmentvolu Provisionford Netbookvalue
me epreciation me epreciation
Investmentinfunds 651,313.55 15,437.67 635,875.88 626,741.72 15,437.67 611,304.05
Investmentinbonds 210,620.00 210,620.00 210,620.00 210,620.00
861,933.55 15,437.67 846,495.88 837,361.72 15,437.67 821,924.05
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Bills receivable
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asat1January,2006 Asat30June,2006
Bankacceptance 850,000.00 902,274.50
Tradeacceptance 24,628,897.10 25,431,806.96
25,478,897.10 26,334,081.46
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Accounts receivable and bad debts provision
Consolidation
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asat1January,2006 Asat30June,2006
Agedistribut Sum Ratio(%) Provisionforbadde Sum Ratio(%) Provisionforbadde
ion bts bts
Within1year 431,243,778.19 79.11 39,017,252.74 401,753,549.98 77.84 44,368,907.33
1-2years 40,633,591.05 7.45 19,248,250.67 46,771,576.98 9.06 20,110,605.09
2-3years 24,658,919.16 4.52 20,645,408.30 27,926,037.35 5.41 21,378,127.29
Over3years 48,611,893.15 8.92 41,458,917.29 39,665,129.59 7.69 39,665,129.59
Total 545,148,181.55 100.00 120,369,829.00 516,116,293.90 100.00 125,522,769.30
Netamount 424,778,352.55 390,593,524.60
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The parent Company
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asat1January,2006 Asat30June,2006
Agedistribut Sum Ratio(%) Provisionforbadde Sum Ratio(%) Provisionforbadde
ion bts bts
Within1year 40,955,691.15 34.78 2,047,784.56 30,788,898.22 28.35 1,539,444.92
1-2years 37,662,633.48 31.98 17,820,652.59 38,647,438.88 35.58 18,017,613.67
2-3years 22,802,839.18 19.36 18,224,396.80 22,843,759.94 21.03 18,244,857.18
Over3years 16,341,731.16 13.88 16,341,731.16 16,336,937.31 15.04 16,336,937.31
Total 117,762,894.97 100.00 54,434,565.11 108,617,034.35 100.00 54,138,853.08
Netamount 63,328,329.86 54,478,181.27
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
None of the obligors holds 5% or more of the stocks of the Company.
Among the accounts receivables, an amount of RMB 11,00,207.66 has been mortgaged in return of a short-term borrowing of equal quantity from the bank.
The end-of-period consolidated account receivable of top five obligors amounts to RMB 87,907,425.94, 16.13% of the total consolidated amount.
The end-of-period parent-company account receivable of top five obligors equals to RMB 33,169,796.83, 28.17% of the parent company data.
Other receivable
Consolidation
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asat1January,2006 Asat30June,2006
Agedistribut Sum Ratio(%) Provisionforbadde Sum Ratio(%) Provisionforbadde
ion bts bts
Within1year 55,636,729.91 66.18 2,116,939.53 39,674,728.64 53.86 892,967.56
1-2years 1,528,946.04 1.81 305,789.22 6,865,313.94 9.32 1,519,048.39
2-3years 1,229,651.78 1.46 614,825.89 6,018,249.19 8.17 5,266,749.81
Over3years 25,689,382.39 30.55 25,689,382.39 21,105,038.45 28.65 21,105,038.45
Total 84,084,710.12 100.00 28,726,937.03 73,663,330.22 100.00 28,783,804.21
Netamount 55,357,773.09 44,879,526.01
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The parent Company
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asat1January,2006 Asat30June,2006
Agedistribut Sum Ratio(%) Provisionforbadde Sum Ratio(%) Provisionforbadde
ion bts bts
Within1year 46,583,161.31 73.46 3,230,367.48 41,327,568.81 70.39 2,066,378.51
1-2years 1,227,356.17 1.94 245,471.24 1,370,912.72 2.33 274,182.54
2-3years 45,889.25 0.07 22,944.63 430,546.57 0.73 215,273.29
Over3years 15,554,403.14 24.53 15,554,403.14 15,585,960.70 26.55 15,585,960.70
Total 63,410,809.87 100.00 19,053,186.49 58,714,988.80 100.00 18,141,795.04
44,357,624.38 40,573,193.76
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
None of the other-receivable obligors holds 5% or more of the stocks of the Company.
The end-of-period consolidated account receivable of top five obligors amounts to RMB 18,808,301.08, 22.37% of the total consolidated number.
The end-of-period parent-company data of top five obligors amounts to RMB 41,560,182.18, 65.54% of the total number.
Prepayments
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asat1January,2006 Asat30June,2006
Agedistribution Balance Ratio(%) Balance Ratio(%)
WithinIyear 10,454,918.00 81.06 19,137,794.06 99.44
1-2years 2,335,742.75 18.11 60,266.95 0.31
2-3years 60,266.95 0.47 5,832.41 0.03
Over3years 47,124.57 0.36 41,292.16 0.22
12,898,052.27 100.00 19,245,185.58 100.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
None of the prepayment obligors holds 5% or more of the shares of the Company.
Subsidies receivable
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item AsatJanuary1,2006 AsatJune30,2006
Taxrefundonexportedgoods 1,283,153.20 1,242,765.36
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Inventories
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Asatbeginningofperiod Asatendofperiod
Sum Provisionfordepreci Sum Provisionfordepreci
ation ation
Rawmaterials 231,979,808.96 57,061,348.90 216,388,183.65 54,445,169.97
Workinprogress 174,696,387.27 37,638,440.35 152,430,570.87 36,292,462.87
Inventories 111,048,498.33 26,993,688.02 115,344,734.60 31,041,647.47
Finishedgoods 167,640,471.45 28,165,634.25 138,244,132.45 27,575,014.04
Materialsinoutsideprocessing 1,880,423.48 820,614.98 1,766,670.58 963,236.74
Lowcostsandshortlivedarticles 2,394,240.63 2,646,331.43 -
Total 689,639,830.12 150,679,726.50 626,820,623.58 150,317,531.09
Netamount 538,960,103.62 476,503,092.49
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Deferred expenses
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Asatendofperiod Asatbeginningofperiod
Rent 135,026.00 177,310.00
Insurancefees 1,928,250.80 1,118,222.62
Others 89,213.00 -
2,152,489.80 1,295,532.62
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The end-of-period expenses increased by 66.15%, mainly due to the insurance fees paid in current period and to be benefited in future months.
Long-term investment in stock equity
Consolidation
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Asatbeginningofperiod Asatendofperiod
Bookbalance Provisionford Netbookvalue Bookbalance Provisionford Netbookvalue
ecreaseinvalu ecreaseinvalu
e e
Investmentinstoc 28,119,679.40 28,119,679.40 28,119,679.40 - 28,119,679.40
ks
Including:insubs 91,384,636.62 1,829,025.33 89,555,611.29 83,419,714.51 1,829,025.33 81,590,689.18
idiaries,associa
tesandothercompa
nies
Consolidatedexce 58,764,553.53 58,764,553.53 63,354,512.19 - 63,354,512.19
ss
178,268,869.55 1,829,025.33 176,439,844.22 174,893,906.10 1,829,025.33 173,064,880.77
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
a. Long-term investment in stocks
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Companyinvested Categoryofstoc Volumeofshar Proportioninthetot Investmentsum(R Provisionfor End-of-termnetva
ks es alsharesofthecompa MB) decreaseinva lue
nyinvested lue
ForeverCo.,Ltd. Legalpersonsha 4,450,500 Lessthan5% 21,285,000.00 - 21,285,000.00
res
SanmaoTextilesCo. Legalpersonsha 1,358,830 Lessthan5% 3,669,800.00 - 3,669,800.00
,Ltd. res
ShenergyCo.,Ltd. Legalpersonsha 396,600 Lessthan5% 740,320.00 - 740,320.00
res
BankofShanghai Legalpersonsha 551,400 Lessthan5% 551,400.00 - 551,400.00
res
ShanghaiBailianGr Legalpersonsha 118,816 Lessthan5% 467,859.40 - 467,859.40
oupCo.,Ltd. res
ShanghaiNewHuangp Legalpersonsha 140,400 Lessthan5% 303,800.00 - 303,800.00
uRealEstatesCo.,L res
td.
ShanghaiWhitecatS Legalpersonsha 145,200 Lessthan5% 290,400.00 - 290,400.00
hareholdingCo.,Lt res
d.
ChinaSatcomGuomai Legalpersonsha 183,784 Lessthan5% 226,000.00 - 226,000.00
CommunicationsCo. res
,Ltd.
SHJinjiangInt’lI Legalpersonsha 93,544 Lessthan5% 220,000.00 - 220,000.00
ndustrialInvestme res
ntCo.
Shenyin&WanguoSec Legalpersonsha 101,214 Lessthan5% 200,000.00 - 200,000.00
uritiesCo.,Ltd. res
PufaMachineryCo., Legalpersonsha 204,551 Lessthan5% 90,000.00 - 90,000.00
Ltd. res
SVAGroup Legalpersonsha 23,958 Lessthan5% 67,600.00 - 67,600.00
res
BaodingInvestment Legalpersonsha 7,500 Lessthan5% 7,500.00 - 7,500.00
Co.,Ltd. res
Total
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
b. Investment in associated undertakings and other companies
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Companyinvested Durationof Proportion( AsatJune30,2005
investment %) Bookvaluebalance Including:investm Provisionfordecr
entdifference easeinvalue
ShanghaiFuji-XeroxCopyMachinesCo.,L 15years 15.8 29,140,749.49 - -
td.
ShanghaiXinhuGlassFactory 20 6,168,235.27 - -
ShanghaiZhongjiSewingMachinesCo.,Lt 20years 30 5,442,443.36 - -
d.
ShanghaiShensiLogisticsCo.,Ltd. 10years 36 4,320,000.00 - -
ShanghaiIndustrialSewingMachineMate 20years 100 4,151,700.37 - -
rialGeneralCo.
ShanghaiSingerSewingMachinesCo.,Ltd 10 3,974,779.84 - -
.
ShanghaiPolaroidCo.,Ltd. 15years 27 5,835,534.49 - -
ShanghaiFuhuaLightIndustrialMachine 20years 55 3,537,117.64 - -
ryCo.,Ltd.
ShanggongTransportationCo. 20years 100 3,491,733.73 - -
JukiCo.,Ltd.Japan 5 5,895,147.35
ChangshuQixingElectroplateHardwareC 15years 45 2,784,164.21 - -
o.
ShanghaiSMPICChangfengCharcoalStick 20years 21 2,052,228.13 - -
Co.,Ltd.
ShanghaiHuazhijiePlasticCo.,Ltd. 15years 12.5 1,766,689.38 - -
ShanghaiShanggongJiahuiSewingMachin 10years 39 1,513,352.59 - 20,991.34
esCo.
ShanghaiBaochiGreatWallNumber-print 15years 20 1,049,101.60 - -
ingMachinesCo.,Ltd.
ShanggongQuanzhouSalesCo. 10years 33 500,000.00 - 500,000.00
ShanggongAnqingSalesCo. 10years 33 500,000.00 - 500,000.00
ShanggongLiaoningSalesCo. 10years 33 500,000.00 - 500,000.00
NantongShanggongSewingMachinesSales 10years 65 442,880.04 - -
Co.
ShanghaiHualianSewingMachineryCo.,L 15.5 400,000.00 - -
td.
ShanghaiYongdeEco.Deve.Co.,Ltd. 20years 80 323,746.80 - -
ShanghaiXinguangUnderwearCo.(SouthA 15years 14.30 308,033.99 - 308,033.99
frica)
WuxiShanggongSewingMachinesCo.,Ltd. 10years 80 153,814.26 - -
DurkoppAdlerInt’lTradingCo.,Ltd. 20 40 4,810,200.00
Other8entities 2,322,984.08 - -
91,384,636.62 - 1,829,025.33
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
c. Consolidated excess
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Companyinvested Originalsum Amortiza-tion Beginningamoun In. Decrease Endingamount
term t
ShanghaiButterflyImp.&Exp 377,712.13 10years 188,856.09 - 18,885.60 169,970.49
.Co.,Ltd.
SMPICCo. 36,703,626.38 82months 29,541,943.16 - 2,685,631.19 26,856,311.97
SMPICCo. 37,708,836.94 10years 33,623,712.94 - 1,885,441.87 31,738,271.07
Total 63,354,512.19 - 4,589,958.66 58,764,553.53
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Parent company
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Asatbeginningofperiod Asatendofperiod
Bookbalance Provisionford Netbookvalue Bookbalance Provisionfordecr Netbookvalue
ecreaseinvalu easeinvalue
e
Investmentinsto 26,899,559.40 26,899,559.40 26,899,559.40 - 26,899,559.40
cks
Investmentinoth 635,244,704.50 1,829,025.33 633,415,679.17 600,518,290.20 1,829,025.33 598,689,264.87
erstockequity
662,144,263.90 1,829,025.33 660,315,238.57 627,417,849.60 1,829,025.33 625,588,824.27
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
a. Long-term investment in stocks
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Companyinvested Categoryofstoc Volumeofshar Proportioninthetot Investmentsum(R Provisionf End-of-termnetva
ks es alsharesofthecompa MB) ordecrease lue
nyinvested invalue
ForeverCo.,Ltd. Legalpersonsha 4,450,500 Lessthan5% 21,285,000.00 - 21,285,000.00
res
SanmaoTextilesCo.,L Legalpersonsha 1,358,830 Lessthan5% 3,669,800.00 - 3,669,800.00
td. res
ShenergyCo.,Ltd. Legalpersonsha 75,000 Lessthan5% 140,000.00 - 140,000.00
res
BankofShanghai Legalpersonsha 551,400 Lessthan5% 551,400.00 - 551,400.00
res
ShanghaiBailianGrou Legalpersonsha 118,816 Lessthan5% 467,859.40 - 467,859.40
pCo.,Ltd. res
ShanghaiWhitecatSha Legalpersonsha 145,200 Lessthan5% 290,400.00 - 290,400.00
reholdingCo.,Ltd. res
SHJinjiangInt’lInd Legalpersonsha 93,544 Lessthan5% 220,000.00 - 220,000.00
ustrialInvestmentCo res
.
Shenyin&WanguoSecur Legalpersonsha 101,214 Lessthan5% 200,000.00 - 200,000.00
itiesCo.,Ltd. res
SVAGroup Legalpersonsha 23,958 Lessthan5% 67,600.00 - 67,600.00
res
BaodingInvestmentCo Legalpersonsha 7,500 Lessthan5% 7,500.00 - 7,500.00
.,Ltd. res
Total 26,899,559.40 - 26,899,559.40
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
b. Investment in associated undertakings and other companies
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Companyinvested Durationofinves Propor AsatJune30,2006
tment tion(% Bookvaluebalance Including:investme Provisionfordec
) ntdifference reaseinvalue
ShanggongImp.&Exp.Co. 15years 90 11,513,001.09 - -
ShanghaiFlyingManImp.&Exp.Co.,Ltd. 10years 80 8,604,116.31 - -
ShanghaiShuangchongSewingMachinesCo 15years 70 0.00 - -
.,Ltd.
ShanghaiGongfengRealEstatesDevelopm 15years 90 7,575,303.29 - -
entCo.
ShanghaiSifangTongjiPureWaterCo.,Lt 15years 91.5 0.00 - -
d.
ShanghaiShanggongJiarongSewingMachi 15years 55 241,721.09 - -
nesCo.
ShanggongFangtianMachineryCo.,Ltd. 15years 60 2,265,562.14 - -
ShanggongXingdaSewingMachinesCo.,Lt 15years 67.7 2,715,438.05 - -
d.
ShanghaiButterflyImp.&Exp.Co.,Ltd. 15years 90 15,339,077.37 -
ShanggongSongdaMachineryCo.,Ltd. 15years 65 3,857,294.24 -
ShanggongJiayuanElec.&MechanicalCo. 15years 67 4,550,372.25 -
SMPICCo. 30years 90 386,487,807.01 -
ShanggongAssetsManagementCo.,Ltd. 15years 100 30,200,657.47 -
Shanggong(Europe)HoldingCo.,Ltd. 50years 100 136,957,844.39 -
DurkoppAdlerInt’lTradingCo.,Ltd. 20years 40 4,810,200.00 -
ShanghaiZhongjiSewingMachinesCo.,Lt 20years 30 5,442,443.36 -
d.
ShanghaiIndustrialSewingMachineMate 20years 100 4,151,700.37 -
rialGeneralCo.
ShanghaiFuhuaLightIndustrialMachine 20years 55 3,537,117.64 -
ryCo.,Ltd.
ShanggongTransportationCo. 20years 100 3,491,733.73 -
ShanggongQuanzhouSalesCo. 10years 33 500,000.00 500,000.00
ShanggongAnqingSalesCo. 10years 33 500,000.00 500,000.00
ShanggongLiaoningSalesCo. 10years 33 500,000.00 500,000.00
NantongShanggongSewingMachinesSales 10years 65 442,880.04 -
Co.
ShanghaiHirosePrecisionIndustryCo., 20years 30 0.00 -
Ltd.
ShanghaiHualianSewingMachineryCo. 15.5 400,000.00 -
ShanghaiShanggongJiahuiSewingMachin 10years 9 360,000.00 20,991.34
esCo.
ShanghaiYongdeEconomicDevelopmentCo 20years 80 323.746.80 -
.,Ltd.
ShanghaiXinguangUnderwearCo.(SouthA 15years 14.3 308,033.99 308,033.99
frica)
WuxiShanggongSewingMachinesCo.,Ltd. 80 153,814.26 -
ShanggongEnterpriseManagementCo.,Lt 90 14,839.61 -
d.
Total 635,244,704.50 1,829,025.33
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Long-term investment in bonds
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item AsatJanuary1,2006 AsatJune30,2006
Bookbalance Provisionfordep Netbookvalue Bookbalance Provisionfordep Netbookvalue
reciation reciation
Investmentinbon 0.00 - 0.00 0.00 0.00
ds
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Fixed assets, at cost
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Fixedassets Plantandcons Equipmentandmach Transportvehicles Officeequipment Costforreformand Total
truction ines upgrade
Atcost:
Asatbeginning 568,402,923. 687,449,872.56 16,418,255.56 316,955,911.70 963,776.00 1,590,190,739.
ofperiod 72 54
Increaseincur 27,264,425.8 17,649,727.21 379,000.00 21,494,820.63 78,597.60 66,866,571.28
rentperiod 4
Decreaseincur 6,182,238.00 1,071,684.05 143,120.30 7,397,042.35
rentperiod
Asatendofperi 595,667,349. 698,917,361.77 15,725,571.51 338,307,612.03 1,042,373.60 1,649,660,268.
od 56 47
Accumulateddepreciation:
Asatbeginning 260,103,360. 483,659,921.45 10,692,540.36 270,456,908.97 255,797.12 1,025,168,528.
ofperiod 81 71
Increaseincur 17,387,978.0 25,941,386.13 695,160.85 24,690,052.45 118,806.43 68,833,383.90
rentperiod 4
Decreaseincur 5,145,266.28 1,077,958.30 3,028,697.22 9,251,921.80
rentperiod
Asatendofperi 277,491,338. 504,456,041.30 10,309,742.91 292,118,264.20 374,603.55 1,084,749,990.
od 85 81
Netbookvalue:
Asatbeginning 308,299,562. 203,789,951.11 5,725,715.20 46,499,002.73 707,978.88 565,022,210.83
ofperiod 91
Asatendofperi 318,176,010. 194,461,320.47 5,415,828.60 46,189,347.83 667,770.05 564,910,277.66
od 71
Depreciationdisposal:
Asatbeginning 4,918,688.12 70,319,377.36 75,238,065.48
ofperiod
Increase/decr
easeincurrent
period
Asatendofperi 4,918,688.12 70,319,377.36 75,238,065.48
od
Netbookvalue:
Asatbeginning 303,380,874.79 133,470,573.75 5,725,715.20 46,499,002.73 707,978.88 489,784,145.35
ofperiod
Asatendofperi 313,257,322.59 124,141,943.11 5,415,828.60 46,189,347.83 667,770.05 489,672,212.18
od
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Among the above-mentioned fixed assets, some buildings and fixed properties (1201A-D, 1701B-2, 1500 Century Avenue; 573 East Longhua Road; 301 West Jiangchang Road, Room 2404, 2018 Huashan Road; Room1412/1414 118, Xinling Road, 360 Gongxing Road; 1-4F, 669 Wusong Road) have been mortgaged to bank in change of short-term borrowing amounted RMB 104,290,000.
Construction in progress
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Construction Capitalso AsatJan1,2006 Asat30June,2006
urce Bookbalance Provisionford Netbookvalue Bookbalance Provisionford Netbookvalue
epreciation epreciation
KSMequipmentproj Self-coll 366,500.00 366,500.00 - - -
ect ected
Rebuildingofplan Self-coll 959,980.40 959,980.40 245,000.00 - 245,000.00
t ected
Air-conditioners Self-coll 5,371.00 5,371.00 - - -
ected
Materialstransmi Self-coll 5,663,709.66 202,626.00 5,461,083.66 4,172,970.30 182,014.30 3,990,956.00
ssionline ected
Productionlineof Self-coll 791,000.00 791,000.00 791,000.00 - 791,000.00
sewingmachines ected
Total 7,786,561.06 202,626.00 7,583,935.06 5,208,970.30 182,014.30 5,026,956.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Intangible assets
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Landuseright Trademarkeright Non-patenttechnology Subtotal
Originalvalue 221,569,367.19 20,161,268.51 1,400,000.00
Atthebeginningofperio 173,909,658.49 11,088,697.81 596,699.42 185,595,055.72
d
Increase
Decrease 2,005,504.12 1,008,063.36 70,000.02 3,083,567.50
Attheendofperiod 171,904,154.37 10,080,634.45 526,699.40 182,511,488.22
Item Goodwill Patent R&Dcost Others Subtotal
Originalvalue 33,927,094.85 4,205,488.30 37,646,917.01 966,542.40
Atthebeginningofp 32,824,922.51 3,285,837.10 30,395,084.11 795,232.74 252,896,132.18
eriod
Increase 1,603,309.88 3,236,194.77 11,495,247.78 16,334,752.43
Decrease 300,592.46 956,090.78 6,382,719.00 20,969.46 10,743,939.20
Attheendofperiod 34,127,639.93 5,565,941.09 35,507,612.89 774,263.28 258,486,945.41
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Long-term deferred expenses
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Rent Others Total
Atthebeginningofperiod 141,136.41 141,136.41
Increase
Decrease 31,363.62 31,363.62
Attheendofperiod 109,772.79 109,772.79
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Short-term loans
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Category Asatbeginningofperiod Asatendofperiod
Creditborrowings 107,848,148.62 121,300,000.00
Securedborrowings 141,760,000.00 203,420,000.00
Mortgageloans 104,290,000.00 74,290,000.00
Hypothecationloans 105,506,207.66 121,405,905.72
459,404,356.28 520,415,905.72
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Among the above-mentioned credit borrowings, an amount of RMB 107,500,000 is guaranteed between the subsidiaries and associates of the Company included in the consolidated statements.
Among the secured borrowings, Shanghai Pudong Development (Group) Co., Ltd. offered as guarantor for an amount of RMB 141,760,000.
Among the above-mentioned mortgage loans, an amount of RMB 84,290,000 was covered by the buildings and fixed properties of the Company. (details reference to 5.12)
Among the above-mentioned hypothecation loans, the Company pledged its fixed deposits of US$ 13,015,000 for the loans of RMB 94,500,000, and the accounts receivable RMB 11,006,207.66 for the equal-amount loans.
Bills payable
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Billspayable Asatbeginningofperiod Asatendofperiod
Businessacceptancedraft 40,000.00 220,000.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The bills payable involve none of the entities holding 5% or more of the Company’s vote-right stock interest.
Accounts payable
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Accountspayable Asatbeginningofperiod Asatendofperiod
199,788,589.46 207,789,162.37
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
None of the companies holding 5% or more of the Company’s vote-right stock right is related to the accounts payable.
Advances on sales
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Advancesonsales Asatbeginningofperiod Asatendofperiod
51,563,396.95 40,569,303.72
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The advances on sales are related to none of the institutions holding 5% or more of SGSB’s vote-right stock interest.
Dividend unpaid
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asatbeginningofperiod Asatendofperiod
Dividendforlegalpersonshares 2,660,551.73 2,896,996.17
Dividendforordinaryshares 42,141.75
2,660,551.73 2,939,137.92
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Tax unpaid
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Asatbeginningofperiod Asatendofperiod
Businesstax 218,941.68 198,598.44
V.A.T. (11,421,205.48) (8,948,989.43)
Cityconstructiontaxandfees 118,128.59 94,471.26
Incometax 1,542,324.61 626,551.10
Realestatetax 0.00 -
Individualincometax 9,049,042.92 7,129,413.63
(492,767.68) (899,955.00)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The individual income tax refers to the unpaid individual income tax of Durkopp Adler AG in accordance with the German tax regulations.
Other payables
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Otherpayables Asatbeginningofperiod Asatendofperiod
142,899,915.06 186,419,987.87
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Other payables involve none of the companies holding 5% or more of the Company’s vote-right stock interest.
Pre-paid expenses
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asatbeginningofperiod Asatendofperiod
Interestaccrued 22,402.50
Rent 450,432.45 440,000.00
Others 224,359.51
674,791.96 462,402.50
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Long-term loans
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Long-termloans Asatbeginningofperiod Asatendofperiod
Creditloans 1,609,984.87 1,609,984.87
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Long-term accounts payable
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Long-termaccountspayable Asatbeginningofperiod Asatendofperiod
Pensions 525,720,352.15 506,754,985.09
FAGloans 273,977,660.31 259,060,909.70
Others 1,474,782.00 -
801,172,794.46 765,815,894.79
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Deferred taxation, debit
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asatbeginningofperiod Asatendofperiod
33,721,681.62 30,238,603.13
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The deferred tax (debit) refers to the income tax liabilities of Durkopp Adler AG in accordance with the German tax regulations.
Share capital
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Category Asatendofperiod Asatbeginningofperiod
1.Non-tradableshares
1.1State-ownedfoundershares 107,870,050.00 118,496,754.00
1.2State-ownedcollectedshares 24,970,967.00 24,970,967.00
1.3State-ownedcollectedlegalpersonshares 21,899,907.00 23,651,804.00
1.4Othercollectedlegalpersonshares 17,192,500.00 17,192,500.00
Totalnon-tradableshares 171,933,424.00 184,312,025.00
2.Tradableshares
2.1OrdinaryRMBshares(Ashares) 33,009,603.00 20,631,002.00
2.2Foreign-investedsharestradedathome(Bshare 243,943,750.00 243,943,750.00
s)
Totaltradableshares 276,953,353.00 264,574,752.00
Totalshares 448,886,777.00 448,886,777.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Capital reserve fund
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asatendofperiod Asatbeginningofperiod
Sharecapitalpremium 313,159,549.73 313,159,549.73
Provisionforinvestmentinstocks 384,874.27 384,874.27
Capitalreservenon-classified 70,245,453.38 70,245,453.38
383,789,877.38 383,789,877.38
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Surplus reserve fund
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asatendofperiod Asatbeginningofperiod
Statutorysurplusreserve 26,001,680.07 14,696,255.33
Publicwelfarereserve 11,305,424.74
26,001,680.07 26,001,680.07
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Undistributed profit
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Duringcurrentperiod Duringpreviousperiod
Beginningundistributedprofit,beforeadjustment (277,478,452.55) 510,825.49
Add:retroactiveadjustedbeginning -
Beginningundistributedprofit,adjusted (277,478,452.55) 510,825.49
Add:current-periodprofit 803,610.54 (276,608,231.59)
Othertransfer-in 77,032.50
Distributableprofits (276,020,373.60)
Less:Statutorysurplusreserve 779,267.83
Publicwelfarereserve 678,811.12
Undistributedprofitatendofperiod/(uncoveredloss) (276,674,842.01) (277,478,452.55)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Loss in investment without recognition
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Asatbeginningofperiod Asatendofperiod
(3,164,952.56)(3,164,952.56) (3,164,952.56)(3,164,952.56)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The end-term net assets of Shanghai SMPIC Great Wall Number-printing Machines Co., Ltd. amount as negative data and the long-term investment balance in this company has been to clear. Taking into consideration that the company is still in continuous operation, the financial statements consolidate it in this list and the loss in investment without recognition represents the ending negative figure of net assets of the company.
Principal operating revenues
Consolidation
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Principaloperatingrevenues
Duringcurrentperiod Duringpreviousperiod
Sewingmachineryandmaterialtransmissio 860,131,038.87 196,166,241.34
nequipments
Internationaltrade 111,942,897.02 105,033,394.20
Officeequipment 30,512,445.18 45,050,820.56
Filmingproducts 26,056,820.02 25,918,519.90
Others 7,062,876.47 32,324,419.53
Total 1,035,706,077.56 404,493,395.53
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The top 5 clients of the Company contribute a sales volume of RMB 118,282,927.50, 11.42% of the current-period consolidated principal operating revenues.
The current-period consolidated principal operating revenues have increased by 156.05%, mainly attributed to the operation of the subsidiary Shanggong (Europe) Holding Co., Ltd.
Parent Company
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Duringcurrentperiod Duringpreviousperiod
Sewingmachines 52,480,292.81 57,603,429.32
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Principal operating cost
Consolidation
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Principaloperatingcost
Duringcurrentperiod Duringpreviousperiod
Sewingmachinery 596,972,798.85 181,141,769.84
Internationaltrade 104,709,499.60 101,636,933.50
Officeequipment 27,735,307.72 42,362,056.01
Filmingproducts 22,310,395.62 23,967,849.40
Others 4,302,595.68 29,717,330.16
Total 756,030,597.47 378,825,938.91
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The current-period consolidated principal operating cost has increased by 99.57%, mainly attributed to the operation of the subsidiary Shanggong (Europe) Holding Co., Ltd.
Parent company
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Duringcurrentperiod Duringpreviousperiod
Sewingmachines 53,485,920.12 57,280,441.18
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Operating tax and subsidies
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Operatingtaxandsubsidies
Duringcurrentperiod Duringpreviousperiod
Businesstax 103,957.97 110,265.66
Cityconstructiontaxandfees 233,052.79 198,451.21
Educationsubsidiaries 83,299.84 81,268.16
Others 14,740.74 2,075.12
Total 0.00 0.00
435,051.34 392,060.15
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Other operating profit
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Duringcurrentperiod Duringpreviousperiod
Income Cost Profit Income Cost Profit
Salesofrawmateria 5,779,375.80 7,019,802.98 -1,240,427.18 6,186,489.38 7,882,569.73 -1,696,080.35
ls
Rentincome 11,434,947.25 2,071,653.81 9,363,293.44 6,050,224.96 121,488.31 5,928,736.65
Servicesincome 64,384.79 64,384.79 67,778.12 0.00 67,778.12
Four-techservices 1,347,232.08 377,171.10 970,060.98 0.00 0.00 0.00
Trademarkuse 925,921.99 52,067.47 873,854.52 0.00 0.00 0.00
Others 6,789,045.46 8,655,434.67 -1,866,389.21 3,302,985.73 1,111,077.23 2,191,908.50
26,340,907.37 18,176,130.03 8,164,777.34 15,607,478.19 9,115,135.27 6,492,342.92
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Financial expense
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Duringcurrentperiod Duringpreviousperiod
Interestexpenditure 36,193,891.60 13,484,238.74
Less:interestincome 3,295,353.98 1,651,550.04
Netinterestexpenditure 32,898,537.62 11,832,688.70
Add:Netlossincurrencyexchangetranslat 6,419,791.74 216,043.44
ion
Otherservicecharge 692,061.17 678,346.64
Total 40,010,390.53 12,727,078.78
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Investment income
5.37.1 Consolidation
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Duringcurrentperiod Duringpreviousperiod
Incomefrominvestmentinstocks 23,200.00 65,350.00
Incomefrominvestmentinbonds
Profitdistributedfromsubsidiariesandassociatedun 12,997,790.65 16,675,024.34
dertakings
Adjustedincrease/decreaseinequityfrominvestedcom
panies,atendofperiod
Incomefromthetransferofinvestedstocks
Amortizationofvarianceofinvestmentinstocks
Provisionfordevaluationofinvestmentinstocks
Total 13,020,990.65 16,740,374.34
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
5.37.2 Parent Company
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Duringcurrentperiod Duringpreviousperiod
Incomefrominvestmentinstocks 23,200.00 65,320.00
Profitdistributedfromsubsidiariesandassociatedun 33,161,143.01 649,977.04
dertakings
Incomefromthetransferofinvestedstocks
Amortizationofvarianceofinvestmentinstocks -4,589,958.66 -4,655,350.30
Total 28,594,384.35 -3,940,053.26
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The Parent-company investment income has increase by RMB 32,534,000 because of the increase of investment income from Shanggong (Europe) Holding Co., Ltd. and SMPIC Co.
Subsidy income
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Category Duringcurrentperiod Duringpreviousperiod
Exportsubsidy 89,500.00 8,970.00
Financialsubsidy 3,129.00
Others
Total 89,500.00 12,099.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Non-operating income
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Category Duringcurrentperiod Duringpreviousperiod
Landrightcompensation
Netincomefromdisposaloffixedassets 1,503,828.99 473,373.37
Penaltyandcompensationincome 10,203,000.00
Others 5,100.00 355,052.01
Total 11,711,928.99 828,425.38
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
The non-operating income has sharply increased due to the compensation paid by Fuji Film Co. Japan.
Non-operating expense
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Category Duringcurrentperiod Duringpreviousperiod
Lossindisposaloffixedassets 85,531.20 18,121.60
Expenditureofpenaltyandcompensation 8,189.38 47,210.56
Donations 6,000.00
Provisionforfixed-assetsdepreciation 0
Others 0 5,900.00
Total 99,720.58 71,232.16
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Affiliated transaction relationship and the transactions
Holding or subsidiary affiliated parties
6.1.1 Profile of holding or subsidiary affiliated parties
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Company Placeofre Principaloperatingactivitie Relationshipwit Property Legalreprese
gistratio s htheCompany ntative
n
ShanghaiYongdeEconomicDevelopment Shanghai Salesofmechanicalandelectri Subsidiaryunder Limitedcom ZhangYifeng
Co.,Ltd. calequipment,hardware,etc taking pany
ShanghaiFuhuaLightIndustrialMachi Shanghai Productionandsalesofgarment Subsidiaryunder Limitedcom ChenMingqi
neryCo.Ltd. machinery,tradeagency taking pany
ShanghaiIndustrialSewingMachineMa Shanghai Manufacture,salesofsewingma Subsidiaryunder Limitedcom ChenHuimin
terialGeneralCo. chinesandotherproducts taking pany
NantongShanggongSewingMachinesCo. Nantong Sewingmachinery,etc. Subsidiaryunder Limitedcom JiangJinrong
,Ltd. taking pany
WuxiShanggongSewingMachinesCo.,Lt Wuxi Sewingmachinery,etc. Subsidiaryunder Limitedcom HuWei
d. taking pany
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
6.1.2 Register capital of these companies and the relevant variations
RMB’000
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Company Atbeginningofperiod Increase/decrease Atendofperiod
ShanghaiYongdeEconomicDevelopmentCo.,Ltd. 2,000.00 - 2,000.00
ShanghaiFuhuaLightIndustrialMachineryCo.Ltd. $1,000.00 - $1,000.00
ShanghaiIndustrialSewingMachineMaterialGeneralC 4,600.00 - 4,600.00
o.
NantongShanggongSewingMachinesCo.,Ltd. 800.00 - 800.00
WuxiShanggongSewingMachinesCo.,Ltd. 500.00 - 500.00
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
6.1.3 Stock right held in the affiliated parties and the relevant variations
RMB’000
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Company Atbeginningofperiod Increase/decrease Atendofperiod
Balance % Balance % Balance %
ShanghaiYongdeEconomicDevelopmentCo.,Ltd. 1,600.00 80 - - 1,600.00 80
ShanghaiFuhuaLightIndustrialMachineryCo.Ltd. 3,165.00 55 - - 3,165.00 55
ShanghaiIndustrialSewingMachineMaterialGeneralC 4,600.00 100 - - 4,600.00 100
o.
NantongShanggongSewingMachinesCo.,Ltd. 520.00 65 - - 520.00 65
WuxiShanggongSewingMachinesCo.,Ltd. 400.00 80 - - 400.00 80
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Non-subsidiary affiliated parties
Affiliated transactions
Balance of accounts receivable and payable with affiliated parties
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Category Atendofperiod Atbeginningofperiod
ShanghaiYongdeEconomyDevelopment Otherreceivable
Co.,Ltd.
ShanghaiFuhuaLightIndustrialMach Accountsreceivable 659,286.58 659,286.58
ineryCo.Ltd.
ShanghaiShanggongNeedlesCo.,Ltd. Otherreceivable 1,282,262.69
ShanghaiIndustrialSewingMachines Otherreceivable 2,296,470.25 2,076,216.27
MaterialsGeneralCo.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Contingent Items
As at December 31, 2005, the external guaranties of the Company were stated as following:
The external guaranties of the Parent Company for entities out of the consolidation amounts RMB 139,000,000, and the guaranty period range from January 2005 to July 2006.
All these guaranties are contracted for Shanghai Worldbest Enterprise Development Co., Ltd. (SWEDC), and an amount of RMB 90,000,000 has been overdue before June 30, 2006 and the rest RMB 49,000,000 has been overdue between July 1 and July 20, 2006.
On February 24, 2006, the Company signed a counter-guaranty agreement with SWEDC, who agreed to offer the 95% stock equity of Xinyu Worldbest Fareast Textile Co., Ltd. and the 88.53% stock equity of Shanghai Worldbest Jersey Costume Co., Ltd. as mortgage for the counter-guaranty which permitted the Company to borrow RMB 139,000,000 from Worldbest Development Bank.
The internal guaranties between the consolidated subsidiaries and associates amounted RMB 107,500,000.
According to the stock right transfer agreement between the Company and FAG Kugelfischer GmbH (FAG), SGSB promised to carry joint liability for the following affairs:
As set in the agreement, besides the payment of 949,821 euros for the acquisition of Durkopp Adler AG, the wholly-owned Shanggong (Europe) Holding Co., Ltd. should also pay consideration to the shareholders for the loans of FAG amounted 36,525,132.28 euros. At the end of report period, Shanggong Europe has paid off the consideration of acquisition and the loans amounted 9,482,436.84 euros, the rest loans of 27,042,695.44 euros will be covered with equal payment in nine years plus an annual interest rated 6% on every anniversary since the year 2007 and the interest paid once every June 30. The Company offered a joint liability guaranty for the payment of Shanggong Europe to the maximum a proportion of 50% and an amount of 12,,500,000 euros.
The Company offered a guaranty towards FAG, an amount maximum of 5,300,000 euros and valid from June 30, 2005 to October 31, 2015. On the same day June 30, 2005, Shanggong Europe also offered a cash mortgage of 622,000 euros to FAG (with the same period of validity) for the latter’s guaranty liability in the sale and lease-back between DA’s American subsidiary and UTF Norcross L.L.C.
Non-regulated post balance sheet event
There is no occurrence of non-regulated post balance sheet event.
Other significant events
On May 22, 2006, the Company convened a meeting among the concerned shareholders considering and approving the reform proposal of non-tradable shares, fixing that the main non-tradable stockholders should pay the consideration proportionally to all the stockholders of tradable A shares at a ratio of six for 10 shares. The collected non-tradable stockholders didn’t pay consideration nor get consideration. And the B stockholders didn’t participate in the reform of non-tradable shares.
On June 15, 2006, the A shares of the Company, renamed as G Shanggong, returned to be tradable in Shanghai Stock Exchange.
For Reference
Interim Report with signature of the Chairman of BOD;
Financial statements signed by the legal person representative, Director in charge of accounting affairs and chief accountant;
All the original documents and announcements carried in the newspaper authorized by China Securities Regulatory Commission within report period;
Articles of Association of the Company;
Other related materials.
SGSB Group Co., Ltd.
Chairman of BOD: Zhang Min
August 24, 2005
Balance Sheet
As at 30 June 2006
Prepared by SGSB Group Co., Ltd. RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Note Consolidated ParentCompany
Consolidated ParentCo Atendofperiod Atbeginningofperi Atendofperiod Atbeginningofperi
mpany od od
Assets:
Currentassets:
Cashandbank 5.1 350,125,185.03 478,555,903.19 158,328,732.45 274,321,581.47
Short-terminves 5.2 846,495.88 821,924.05 395,182.33 395,182.33
tment
Billsreceivable 5.3 25,478,897.10 26,334,081.46 800,000.00 552,274.50
Dividendreceiva 308,637.18 327,102.05 5,094,498.42 5,094,498.42
ble
Interestreceiva 72,642.87
ble
Accountsreceiva 5.4.1 5.4.2 424,778,352.55 390,593,524.60 63,328,329.86 54,478,181.27
ble
Otherreceivable 5.5.1 5.5.2 55,357,773.09 44,879,526.01 44,357,624.38 40,573,193.76
s
Prepayments 5.6 12,898,052.27 19,245,185.58 3,437,470.09 901,622.61
Subsidyreceivab 5.7 1,283,153.20 1,242,765.36
le
Inventories 5.8 538,960,103.62 476,503,092.49 64,213,215.66 73,053,450.19
Deferredexpense 5.9 2,152,489.80 1,295,532.62
s
Long-termcredit
or-investmentto
beexpiredinoney
ear
Othercurrentass
ets
Totalcurrentass 1,412,189,139.72 1,439,871,280.28 339,955,053.19 449,369,984.55
ets
Long-terminvest
ment
Long-terminvest 5.10.1 5.10.2 176,439,844.22 173,064,880.77 660,315,238.57 625,588,824.27
mentinstock
Long-termcredit 5.11
or-investment
Totallong-termi 176,439,844.22 173,064,880.77 660,315,238.57 625,588,824.27
nvestment
Amongwhich:vari 58,764,553.53 63,354,512.19
anceduetoconsol
idation(“-”fo
rcreditbalance,
consolidated)
Amongwhich:vari 58,764,553.53 63,354,512.19
anceofinvestmen
tinstock(“-”f
orcreditbalance
,consolidated)
Fixedassets:
Fixedassets,atc 5.12 1,649,660,268.47 1,590,190,739.54 554,296,954.14 556,448,165.82
ost
Less:accumulate 1,084,749,990.81 1,025,168,528.71 323,444,291.90 314,547,460.17
ddepreciation
Fixedassets,net 564,910,277.66 565,022,210.83 230,852,662.24 241,900,705.65
value
Less:Provisionf 75,238,065.48 75,238,065.48 75,111,879.85 75,111,879.85
ordevaluationof
fixedassets
Fixedassets,net 489,672,212.18 489,784,145.35 155,740,782.39 166,788,825.80
amount
Constructionmat
erials
Constructioninp 5.13 7,583,935.06 5,026,956.00 366,500.00
rogress
Disposaloffixed
assets
Totalfixedasset 497,256,147.24 494,811,101.35 156,107,282.39 166,788,825.80
s
Intangibleandot
herassets
Intangibleasset 5.14 258,486,945.41 252,896,132.18 112,618,500.45 114,640,169.19
s
Long-termdeferr 5.15 109,772.79 141,136.41
edexpenses
Otherlong-terma
ssets
Totalintangible 258,596,718.20 253,037,268.59 112,618,500.45 114,640,169.19
andotherassets
Deferredtaxatio
n:
Deferredtaxatio 69,497,196.46 81,365,771.39
n,debit
Totalassets 2,413,979,045.84 2,442,150,302.38 1,268,996,074.60 1,356,387,803.81
Liabilitiesands
hareholders’eq
uity
Currentliabilit
ies:
Short-termloans 5.16 459,404,356.28 520,415,905.72 311,108,148.62 369,770,000.00
Billspayable 5.17 40,000.00 220,000.00 40,000.00 220,000.00
Accountspayable 5.18 199,788,589.46 207,789,162.37 71,207,139.46 81,390,154.68
Advancesonsales 5.19 51,563,396.95 40,569,303.72 5,402,446.29 14,128,642.96
Wagesandsalarie 16,266,802.34 15,568,104.51
sunpaid
Staffwelfarefun 43,574,832.28 32,986,414.58 267,924.68
dunpaid
Dividendunpaid 5.20 2,660,551.73 2,939,137.92 1,532,818.86 1,532,818.86
Taxunpaid 5.21 -492,767.68 -899,955.00 593,853.31 207,127.54
Otheroutstandin 61,872.25 48,529.58 893.37 1,436.43
gpayments
Otherpayables 5.22 142,899,915.06 186,419,987.87 290,145,109.97 301,112,727.94
Pre-paidexpense 5.23 674,791.96 462,402.50 19,845.00
s
Contingentliabi 787,088.54 967,012.76
lities
Long-termliabil 400,000.00 400,000.00 400,000.00 400,000.00
itiestobeexpire
dinoneyear
Othercurrentlia
bilities
Totalcurrentlia 917,629,429.17 1,007,886,006.53 680,698,334.56 768,782,753.41
bilities
Long-termliabil
ities:
Long-termloans 5.24 1,609,984.87 1,609,984.87
Bondspayable
Long-termaccoun 5.25 801,172,794.46 765,815,894.79 1,474,782.00 1,474,782.00
tspayable
Specificpayable
Otherlong-terml
iabilities
Totallong-terml 802,782,779.33 767,425,879.66 1,474,782.00 1,474,782.00
iabilities
Deferredtaxatio
n:
Deferredtax,cre 5.26 33,721,681.62 30,238,603.13
dit
Totalliabilitie 1,754,133,890.12 1,805,550,489.32 682,173,116.56 770,257,535.41
s
Minorityinteres 91,448,663.45 70,709,927.36
ts
Shareholders’e
quity
Sharecapital 5.27 448,886,777.00 448,886,777.00 448,886,777.00 448,886,777.00
Less:returnedin
vestment
Contributedcapi 448,886,777.00 448,886,777.00 448,886,777.00 448,886,777.00
tal,netvalue
Capitalreservef 5.28 383,789,877.38 383,789,877.38 383,789,877.38 383,789,877.38
und
Surplusreservef 5.29 26,001,680.07 26,001,680.07 4,546,242.52 4,546,242.52
und
Including:staff 11,305,424.74 2,273,121.26
welfarefund
Undistributedpr 5.30 -276,674,842.01 -277,478,452.55 -250,399,938.86 -251,092,628.50
ofit
Cashdividendtob
edistributed
Differenceoffor -10,442,047.61 -12,145,043.64
eigncurrencytra
nslation
Less:unverified 5.31 3,164,952.56 3,164,952.56
investmentloss(
consolidated)
Totalshareholde 568,396,492.27 565,889,885.70 586,822,958.04 586,130,268.40
rs’equity
Totalliabilitie 2,413,979,045.84 2,442,150,302.38 1,268,996,074.60 1,356,387,803.81
sandshareholder
s’equity
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Xu Xiaohui
Profit/Loss and Profit Distribution Statement
January-June, 2006
Prepared by SGSB Group Co., Ltd. RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Note Consolidated ParentCompany
Consilidate ParentCo Duringcurrentperi Duringthesamepe Duringcurrentpe Duringthesamep
d mpany od riodofanteriory riod eriodofanterio
ear ryear
1.Principaloperatingreve 5.32.1 5.32.2 1,035,706,077.56 404,493,395.53 52,480,292.81 57,603,429.32
nues
Less:principaloperatingc 5.33.1 5.33.2 756,030,597.47 378,825,938.91 53,485,920.12 57,280,441.18
ost
Operatingtaxandsubsidies 5.34 435,051.34 392,060.15
2.Principaloperatingprof 279,240,428.75 25,275,396.47 -1,005,627.31 322,988.14
it
Add:otheroperatingprofit 5.35 8,164,777.34 6,492,342.92 1,446,768.22 35,425.92
Less:Operatingexpense 137,515,340.13 13,883,057.16 3,259,822.91 1,983,030.78
Administrationexpense 106,859,153.90 56,790,933.30 21,450,614.99 20,334,760.64
Financialexpense 5.36 40,010,390.53 12,727,078.78 14,626,602.28 10,466,718.60
3.Operatingprofit 3,020,321.53 -51,633,329.85 -38,895,899.27 -32,426,095.96
Add:Investmentincome 5.37.1 5.37.2 13,020,990.65 16,740,374.34 28,594,384.35 -3,940,053.26
Subsidyincome 5.38 89,500.00 12,099.00
Non-operatingincome 5.39 11,711,928.99 828,425.38 11,035,539.09 31,305.10
Less:non-operatingexpens 5.40 99,720.58 71,232.16 41,334.53 13,802.06
e
4.Totalprofit 27,743,020.59 -34,123,663.29 692,689.64 -36,348,646.18
Less:incometaxpayable 23,381,324.63 1,093,709.97
Minorityinterests 3,558,085.42 -114,401.77
Add:unverifiedinvestment -97,008.68
loss(consolidated)
5.Netprofit 803,610.54 -35,199,980.17 692,689.64 -36,348,646.18
Add:undistributedprofita -277,478,452.55 510,825.49 -251,092,628.50 18,184,970.04
tbeginningofperiod
Transferfromotherresourc
es
6.Profitavailablefordist -276,674,842.01 -34,689,154.68 -250,399,938.86 -18,163,676.14
ribution
Less:Provisionofstatutor
ysurplusreserve
Provisionofstatutorypubl
icwelfarereserve
Fundforstaffwelfareandre
ward(consolidated)
Provisionofreservefund
Provisionofdevelopmentfu
nd
Forrefundofinvestment
7.Profitavailablefordist -276,674,842.01 -34,689,154.68 -250,399,938.86 -18,163,676.14
ributiontoshareholders
Less:Dividendpayableforp
riorityshares
Provisionofdiscretionary
surplusreserve
Dividendpayableforcommon
shares
Dividendforcommonsharesc
apitalized
8.Undistributedprofit -276,674,842.01 -34,689,154.68 -250,399,938.86 -18,163,676.14
Supplements:
a.profitfromsaleanddispo
salofinvestedunits
b.lossfromnaturaldisaste
rs
c.profitincrease/decreas
ebyaccountingpolicychang
e
d.profitincrease/decreas
ebyaccountingestimationc
hange
e.lossinliabilities’res
tructure
f.others
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Xu Xiaohui
Cash Flow Statement
January-June, 2006
Prepared by SGSB Group Co., Ltd. RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Note Current-period
Consolidated Parentcompan Consolidated Parentcompany
y
1.Cashflowsfromoperatingactivities
Cashinflowfromsaleofgoodsandprovisionofservices 1,082,347,371.68 53,086,848.42
Repaymentoftaxreceived 23,882,316.15
Othercashinflowrelatingtooperatingactivities 43,761,030.69 55,833,680.39
Totalcashinflowfromoperatingactivities 1,149,990,718.52 108,920,528.81
Paymentforpurchaseofgoodsandreceiptofservices 727,428,214.86 48,749,210.32
Paymenttoandforstaff 300,569,229.51 39,333,189.25
Taxationpaid 15,391,951.92 4,685,493.29
Otherpaymentrelatingtooperatingactivities 99,312,532.77 53,998,611.05
Totalcashoutflowfromoperatingactivities 1,142,701,929.06 146,766,503.91
Netcashinflow/outflowgeneratedfromoperations 7,288,789.46 -37,845,975.10
2.Cashflowfrominvestingactivities
Cashinflowfromretirementofinvestment 402,876.00 402,876.00
Including:cashinflowfromsaleofsubsidiaries
Cashinflowfromprofitofinvestment 270,128.00 270,128.00
Cashgainfromdisposaloffixedassets,intangibleassets 1,693,172.81 915,880.00
,andotherlong-terminvestment
Otherproceedsrelatingtoinvestmentactivities
Totalcashinflowfrominvestingactivities 2,366,176.81 1,588,884.00
Cashpaidforacquisitionoffixedassets,intangibleasse 31,364,328.83 429,730.00
ts,andotherlong-terminvestment
Cashpaidforinvestment 7,958,271.63 4,810,200.00
Cashpaidforotheractivitiesrelatingtoinvestment
Totalcashoutflowfrominvestingactivities 39,322,600.46 5,239,930.00
Netcashinflow/outflowgeneratedfrominvestmentactivi -36,956,423.65 -3,651,046.00
ties
3.Cashflowfromfinancingactivities
Absorptionofinvestment
Amongwhich:absorptionofstockinvestmentofminoritysh
areholdersbysubsidiarycompanies
Borrowingsraised 250,720,301.94 163,620,000.00
Othercashinflowrelatingtofinancingactivities
Totalcashinflowfromfinancingactivities 250,720,301.94 163,620,000.00
Borrowingsrepaid 311,731,851.38 222,281,851.38
Dividend,interestandprofitpaid 36,466,647.50 14,549,089.51
Amongwhich:payfordividendsofminorityshareholders
Othercashoutflowrelatingtofinancingactivities
Amongwhich:paymenttominorityshareholdersforreducti
onofcapitalstockbysubsidiarycompanies
Totalcashoutflowfromfinancingactivities 348,198,498.88 236,830,940.89
Netcashinflow/outflowfromfinancingactivities -97,478,196.94 -73,210,940.89
4.Influenceoffluctuationofexchangerate -1,284,887.03 -1,284,887.03
5.Netincrease/decreaseincashandcashequivalents -128,430,718.16 -115,992,849.02
SupplementaryInformation
1.Adjustmentofnetprofittocashflowsgeneratingfromop
erations:
Netprofit 803,610.54 692,689.64
Add:minorityinterests/loss 3,358,085.42
Less:unverifiedinvestmentloss
Add:provisionfordevaluationofassets -4,847,612.07 -2,815,174.97
Depreciationoffixedassets 41,006,532.84 10,972,864.15
Amortizationofintangibleassets 10,743,939.20 2,021,668.74
Amortizationoflong-termexpenses 31,363.62
Decreaseofdeferredexpenses(less:increase) -856,957.18
Increaseofprepaidexpense(less:decrease) 212,389.46
Lossondisposaloffixedassets,intangibleassetsandoth -1,391,880.17 -764,400.08
erlong-termassets(less:profit)
Lossonretirementoffixedassets 1,940.06
Financialexpenses 35,877,392.50 14,549,089.51
Investmentloss(less:investmentgain) -13,020,990.65 -28,594,384.35
Deferredtax,credit(less:debit) 15,351,653.42
Decreaseofinventories(less:increase) -62,819,206.54 12,862,511.98
Decreaseofreceivablesinoperations(less:increase) 12,083,556.93 -17,348,272.25
Increaseofpayablesinoperations(less:decrease) -29,245,027.92 -29,422,567.47
Others(increaseofpredeterminedliabilities)
Netcashinflow/outflowgeneratedfromoperations 7,288,789.46 -37,845,975.10
2.Investingandfinancingactivitiesnotrelatingtocash
flows:
Capitaltransferredfromliabilities
Transferablebondstobeexpiredinoneyear
Fixedassetstransferredfromfinancingactivites
3.Netincrease/decreaseincashandcashequivalents
Cashandbankbalancesatendofperiod 350,125,185.03 158,328,732.45
Less:cashandbankbalancesatbeginningofperiod 478,555,903.19 274,321,581.47
Add:cashequivalentatendofperiod
Less:cashequivalentatbeginningofperiod
Netincrease/decreaseincashandcashequivalents -128,430,718.16 -115,992,849.02
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Xu Xiaohui
Provisions for Assets Devaluation (consolidated)
January-June, 2006
Prepared by SGSB Group Co., Ltd. RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Beginningb Increased Decreaseduringcurrentperiod Endingbalance
alance uringcurr Reversalf Transfer-o Total
entperiod romthereb utduefromo
oundofass therreason
ets’valu s
e
Totalforbaddeb 154,306,57 5,264,939 10,474,747 10,474,74 149,096,766.03
tprovisions 3.51 .66 .14 7.14
Amongwhich:For 125,522,76 3,496,407 8,649,347. 8,649,347 120,369,829.00
accountsreceiv 9.30 .29 59 .59
able
Forotherreceiv 28,783,804 1,768,532 1,825,399. 1,825,399 28,726,937.03
ables .21 .37 55 .55
Totalprovision 15,437.67 15,437.67
sfordeclinatio
nofshort-termi
nvestments
Amongwhich:For
stockinvestmen
t
Forbondinvestm
ent
Totalprovision 150,317,53 5,602,055 5,239,860. 5,239,860 150,679,726.50
sfordepreciati 1.09 .48 07 .07
onofinventorie
s
Amongwhich:For 58,616,661 1,342,182 4,799,521. 4,799,521 55,159,322.27
stockgoods .51 .64 88 .88
Forrawmaterial 54,445,169 2,616,178 57,061,348.90
s .97 .93
Totalprovision 1,829,025. 1,829,025.33
sfordepreciati 33
onoflong-termi
nvestment
Amongwhich:For 1,829,025. 1,829,025.33
long-termstock 33
investment
Forlong-termbo
ndinvestment
Totalprovision 75,238,065 75,238,065.48
sfordepreciati .48
onoffixedasset
s
Amongwhich:For 4,918,688. 4,918,688.12
realproperty 12
Formachineande 70,319,377 70,319,377.36
quipment .36
Provisionsofde
valuationofint
angibleassets
Amongwhich:For
patent
Fortrademarkri
ght
Provisionsford 182,014.30 20,611.70 202,626.00
evaluationofco
nstructionsinp
rogress
Provisionsford
epreciationoft
rustloans
Totalprovision 381,888,64 10,887,60 15,714,607 15,714,60 377,061,647.01
sforassetsdeva 7.38 6.84 .21 7.21
luation
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Xu Xiaohui
Provisions for Assets Devaluation (parent company)
January-June, 2006
Prepared by SGSB Group Co., Ltd. RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Item Beginningb Increase Decreaseduringcurrentperiod Endingbalance
alance duringcu Reversalf Transfer-o Total
rrentper romthereb utduefromo
iod oundofass therreason
ets’valu s
e
Totalforbaddebt 72,280,648 1,995,16 788,057.72 788,057.7 73,487,751.60
provisions .12 1.20 2
Amongwhich:Fora 54,138,853 510,308. 214,595.97 214,595.9 54,434,565.11
ccountsreceivab .08 00 7
le
Forotherreceiva 18,141,795 1,484,85 573,461.75 573,461.7 19,053,186.49
bles .04 3.20 5
Totalprovisions 15,437.67 15,437.67
fordeclinationo
fshort-terminve
stments
Amongwhich:Fors 15,437.67 15,437.67
tockinvestment
Forbondinvestme
nt
Totalprovisions 49,833,867 68,303.7 4,090,581. 4,090,581 45,811,590.35
fordepreciation .80 6 21 .21
ofinventories
Amongwhich:Fors 30,101,216 3,947,959. 3,947,959 26,153,257.06
tockgoods .50 44 .44
Forrawmaterials 12,132,560 68,303.7 12,200,864.54
.78 6
Totalprovisions 1,829,025. 1,829,025.33
fordepreciation 33
oflong-terminve
stment
Amongwhich:Forl 1,829,025. 1,829,025.33
ong-termstockin 33
vestment
Forlong-termbon
dinvestment
Totalprovisions 75,111,879 75,111,879.85
fordepreciation .85
offixedassets
Amongwhich:Forr 4,913,777. 4,913,777.92
ealproperty 92
Formachineandeq 70,198,101 70,198,101.93
uipment .93
Provisionsofdev
aluationofintan
gibleassets
Amongwhich:Forp
atent
Fortrademarkrig
ht
Provisionsforde
valuationofcons
tructionsinprog
ress
Provisionsforde
preciationoftru
stloans
Totalprovisions 199,070,85 2,063,46 4,878,638. 4,878,638 196,255,684.80
forassetsdevalu 8.77 4.96 93 .93
ation
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Xu Xiaohui
Return on net assets and earning per share according to the Circular No. 9 by China Securities Regulatory Commission:
RMB’
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Profitsinreportterm Returnonnetassets(%) Earningpershare
Diluted Weighted Diluted Weighted
Principaloperatingprofit 49.13 49.24 0.6221 0.6221
Administrativeprofit 5.31 5.33 0.0067 0.0067
Netprofit 0.1414 0.14 0.0018 0.0018
Netprofitafternon-recurrentacc -1.91 -1.91 -0.0241 -0.0241
ountprofit/loss
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