2017 年年度报告
公司代码：900929 公司简称：锦旅 B 股
上海锦江国际旅游股份有限公司
2017 年年度报告
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2017 年年度报告
重要提示
一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整，
不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。
二、 公司全体董事出席董事会会议。
三、 德勤华永会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。
四、 公司负责人邵晓明、首席执行官包磊、主管会计工作负责人庄琦及会计机构负责人（会计主
管人员）陈炫兆声明：保证年度报告中财务报告的真实、准确、完整。
五、 经董事会审议的报告期利润分配预案或公积金转增股本预案
经德勤华永会计师事务所（特殊普通合伙）审计确认，2017年度母公司净利润88,491,751.56
元，加上年积余未分配利润220,427,928.58元，本年度可供股东分配利润为308,919,680.14元。
公司拟定2017年度利润分配预案为：以截至2017年12月31日的总股本132,556,270股为基数，为每
10股派发现金红利人民币2.34元（含税）,红利派发总额计31,018,167.18元，剩余未分配利润
277,901,512.96元结转下年度。
本利润分配预案尚需提交公司股东大会审议。
六、 前瞻性陈述的风险声明
√适用 □不适用
本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请
投资者注意投资风险。
七、 是否存在被控股股东及其关联方非经营性占用资金情况
否
八、 是否存在违反规定决策程序对外提供担保的情况？
否
九、 重大风险提示
公司已在本年度报告“董事会报告”有关章节中详细描述公司可能面对的风险，敬请投资者
予以关注。
十、 其他
√适用 □不适用
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2017 年年度报告
本年度报告分别以中文和英文两种文字印刷，在对两种语言文本的说明上存在歧义时，以中
文文本为准。
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2017 年年度报告
目录
第一节 释义..................................................................................................................................... 5
第二节 公司简介和主要财务指标 ................................................................................................. 6
第三节 公司业务概要 ................................................................................................................... 10
第四节 经营情况讨论与分析 ....................................................................................................... 12
第五节 重要事项........................................................................................................................... 28
第六节 普通股股份变动及股东情况 ........................................................................................... 39
第七节 优先股相关情况 ............................................................................................................... 43
第八节 董事、监事、高级管理人员和员工情况 ....................................................................... 44
第九节 公司治理........................................................................................................................... 52
第十节 公司债券相关情况 ........................................................................................................... 56
第十一节 财务报告........................................................................................................................... 57
第十二节 备查文件目录 ................................................................................................................... 58
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2017 年年度报告
第一节 释义
一、 释义
在本报告书中，除非文义另有所指，下列词语具有如下含义：
常用词语释义
中国证监会 指 中国证券监督管理委员会
上交所 指 上海证券交易所
集团、锦江国际、锦江国际集团 指 锦江国际（集团）有限公司
锦江酒店 指 上海锦江国际酒店（集团）股份有限公司
WeHotel 指 上海齐程网络科技有限公司
财务公司 指 锦江国际集团财务有限公司
公司、本公司、锦江旅游 指 上海锦江国际旅游股份有限公司
上海国旅 指 上海国旅国际旅行社有限公司
锦旅控股（原上海锦旅） 指 上海锦江旅游控股有限公司（原上海锦江旅游有限公司更
名）
上旅 指 上海旅行社有限公司
华亭海外 指 上海华亭海外旅游有限公司
锦江会展公司 指 上海锦江国际会展有限公司
锦江商旅 指 上海锦江商旅汽车服务股份有限公司
浦江游览 指 上海浦江游览有限公司
浦发银行 指 上海浦东发展银行股份有限公司
交通银行 指 交通银行股份有限公司
豫园商城 指 上海豫园旅游商城股份有限公司
申万宏源 指 申万宏源集团股份有限公司
国内游业务 指 公司及下属旅行社招徕、组织和接待中国内地居民在境内
旅游的业务，包括安排交通、住宿、餐饮、观光旅游、休
闲度假、导游服务等
入境旅游业务 指 公司及下属旅行社招徕、组织和接待外国旅游者来我国境
内旅游的业务，包括安排交通、住宿、餐饮、观光旅游、
休闲度假、导游服务等
出境旅游业务 指 公司及下属旅行社招徕、组织中国公民赴境外旅游的业
务，包括安排境外交通、住宿、餐饮、观光旅游、休闲度
假、导游领队服务等
会奖旅游业务 指 公司及下属旅行社为企事业单位、机关团体等组织提供相
关 的 会 议 （ Meeting ）、 奖 励 旅 游 （ Incentive ）、 大 会
（Convention）、展览（Exhibition）等活动的相关服务，
包括提供全方位的咨询、策划、安排、执行等专业会奖服
务
《公司章程》 指 《上海锦江国际旅游股份有限公司章程》
《公司法》 指 《中华人民共和国公司法》
《证券法》 指 《中华人民共和国证券法》
报告期、本年度 指 2017 年度
元、万元 指 人民币元、人民币万元
注：WeHotel 即上海齐程网络科技有限公司及其运营开发的以“移动互联网+智能酒店+共享服务+
消费金融”商业模式为依托的全球酒店共享平台。
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第二节 公司简介和主要财务指标
一、 公司信息
公司的中文名称 上海锦江国际旅游股份有限公司
公司的中文简称 锦江旅游
公司的外文名称 ShanghaiJinjiangInternationalTravelCo.,Ltd.
公司的外文名称缩写 JJIT
公司的法定代表人 邵晓明
二、 联系人和联系方式
董事会秘书 证券事务代表
姓名 金晶 向晟
联系地址 上海市延安东路100号联谊大厦27楼 上海市延安东路100号联谊大厦27楼
电话 021‐63264000 021‐63264000
传真 021‐63296636 021‐63296636
电子信箱 jinjing@jjtravel.com xiangsheng@jjtravel.com
三、 基本情况简介
公司注册地址 上海市延安东路100号联谊大厦27楼
公司注册地址的邮政编码 200002
公司办公地址 上海市延安东路100号联谊大厦27楼
公司办公地址的邮政编码 200002
公司网址 www.jjtravel.com
电子信箱 scits@scits.com
四、 信息披露及备置地点
公司选定的信息披露媒体名称 《上海证券报》、《大公报》
登载年度报告的中国证监会指定网站的网址 www.sse.com.cn
公司年度报告备置地点 本公司、上海证券交易所
五、 公司股票简况
公司股票简况
股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称
B股 上海证券交易所 锦旅B股 900929
六、 其他相关资料
服务热线：400-820-8286
微信公众订阅号：锦江国际旅游
微信号：jinjiangtravel
微信二维码：
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名称 德勤华永会计师事务所（特殊普通合伙）
公司聘请的会计师事务所（境
办公地址 上海市延安东路 222 号外滩中心 30 楼
内）
签字会计师姓名 唐恋炯、花盛
七、 近三年主要会计数据和财务指标
(一) 主要会计数据
单位：元 币种：人民币
本期比上年
主要会计数据 2017年 2016年 同期增减 2015年
(%)
营业收入 1,710,185,432.74 1,907,531,142.26 -10.35 2,280,187,322.60
归属于上市公司股
61,228,732.75 61,137,877.20 0.15 60,752,458.26
东的净利润
归属于上市公司股
东的扣除非经常性 -2,011,245.10 -4,926,519.82 不适用 22,058,347.30
损益的净利润
经营活动产生的现
-53,436,817.99 -64,802,366.73 不适用 -30,553,566.86
金流量净额
本期末比上
2017年末 2016年末 年同期末增 2015年末
减（%）
归属于上市公司股
1,147,555,643.09 1,167,858,604.59 -1.74 1,269,072,888.25
东的净资产
总资产 1,603,039,374.36 1,657,818,410.73 -3.30 1,795,795,701.68
期末总股本 132,556,270.00 132,556,270.00 0.00 132,556,270.00
(二) 主要财务指标
本期比上
主要财务指标 2017年 2016年 年同期增 2015年
减(%)
基本每股收益（元／股） 0.4619 0.4612 0.15 0.4583
稀释每股收益（元／股） 不适用 不适用 不适用 不适用
扣除非经常性损益后的基本
-0.0152 -0.0372 不适用 0.1664
每股收益（元／股）
加权平均净资产收益率（% 增加0.10
5.24 5.14 4.91
） 个百分点
扣除非经常性损益后的加权 增加0.24
-0.17 -0.41 1.78
平均净资产收益率（%） 个百分点
报告期末公司前三年主要会计数据和财务指标的说明
□适用 √不适用
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八、 境内外会计准则下会计数据差异
(一) 同时按照国际会计准则与按中国会计准则披露的财务报告中净利润和归属于上市公司股东
的净资产差异情况
□适用 √不适用
(二) 同时按照境外会计准则与按中国会计准则披露的财务报告中净利润和归属于上市公司股东的
净资产差异情况
□适用 √不适用
(三) 境内外会计准则差异的说明：
□适用 √不适用
九、 2017 年分季度主要财务数据
单位：元 币种：人民币
第一季度 第二季度 第三季度 第四季度
（1-3 月份） （4-6 月份） （7-9 月份） （10-12 月份）
营业收入 339,795,649.61 394,569,431.91 482,547,997.92 493,272,353.30
归属于上市公司股
14,119,028.95 36,709,504.24 1,413,423.05 8,986,776.51
东的净利润
归属于上市公司股
东的扣除非经常性 -2,508,776.06 -3,263,021.05 837,573.57 2,922,978.44
损益后的净利润
经营活动产生的现
-6,121,649.31 24,172,105.19 -38,930,643.57 -32,556,630.30
金流量净额
季度数据与已披露定期报告数据差异说明
□适用 √不适用
十、 非经常性损益项目和金额
√适用 □不适用
单位:元 币种:人民币
附注（如适
非经常性损益项目 2017 年金额 2016 年金额 2015 年金额
用）
非流动资产处置损益与报废 79,240.71 222,393.39 -19,981.90
损失
计入当期损益的政府补助，但 4,257,109.41 6,902,884.60 4,640,299.80
与公司正常经营业务密切相
关，符合国家政策规定、按照
一定标准定额或定量持续享
受的政府补助除外
除同公司正常经营业务相关 77,262,360.31 主要是出售 79,026,886.95 46,329,510.93
的有效套期保值业务外，持有 浦发银行、
交易性金融资产、交易性金融 豫园股份等
负债产生的公允价值变动损 股票取得的
益，以及处置交易性金融资 投资收益。
产、交易性金融负债和可供出
售金融资产取得的投资收益
处置长期股权投资产生的投 2,739,009.89 - -
资收益
融券业务取得的收益 39,376.71 - -
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单独进行减值测试的应收款 99,195.10 1,513,121.69 639,757.03
项减值准备转回
除上述各项之外的其他营业 -144,430.63 435,598.99 15,239.36
外收入和支出
所得税影响额 -21,083,025.68 -22,024,730.74 -12,901,170.59
少数股东权益影响额（税后） -8,857.97 -11,757.86 -9,543.67
合计 63,239,977.85 66,064,397.02 38,694,110.96
十一、 采用公允价值计量的项目
√适用 □不适用
单位：元 币种：人民币
对当期利润的影响金
项目名称 期初余额 期末余额 当期变动
额
可供出售金融资产 730,425,794.60 947,371,170.05 216,945,375.45 104,370,551.00
交易性金融资产 0.00 31,071.96 31,071.96 643,113.07
合计 730,425,794.60 947,402,242.01 216,976,447.41 105,013,664.07
十二、 其他
□适用 √不适用
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第三节 公司业务概要
一、报告期内公司所从事的主要业务、经营模式及行业情况说明
公司主要业务与经营模式
本公司及下属主要子公司从事旅行社业务，组织海外游客入境旅游，中国公民国内旅游和出
境旅游,向消费者提供观光旅游、休闲度假、会务会展、旅游咨询等服务。截止 2017 年 12 月 31
日,公司在上海地区拥有近五十家门店，销售公司旗下子公司锦旅控股（由原上海国旅、上海锦旅、
上旅和华亭海外整合而成，统一以“锦江旅游”的品牌对外经营）统筹管理的“有趣”、“乐趣”、
“福鸟”、“锦粹”、“锦彩”、“锦悦”、“锦 Show”、“锦丽”、 “呼朋唤友”、“氧气美徒”、“轻奢周
末”等品牌的旅行产品。2017 年度，公司旅游及相关业务占公司当年全部营业收入的比重为
98.12%，与上年度相比减少 0.15 个百分点,没有发生重大变化。
行业情况
公司所处的行业为旅游行业，根据证监会《上市公司行业分类指引》，公司归属于“社会服务
业旅游业”。旅游业作为一个朝阳产业，随着我国经济的快速发展和人民生活水平的提高，人们对
旅游消费的观念也进一步提升。近几年来，我国的旅游业一直保持平稳较快增长，有力的拉动了
我国国民经济，旅游业正成为国民经济发展的重要产业，对整个国民经济和社会发展都具有战略
性关联带动作用。
中国旅游研究院、国家旅游局数据中心发布的第十部《中国旅游经济蓝皮书》指出：2017 年
旅游发展的国内外环境持续优化，旅游经济继续保持良好运行态势。国内旅游市场高速增长，入
出境市场平稳发展，供给侧结构性改革成效明显，厕所革命和全域旅游逐渐成为社会发展共识，
旅游服务质量稳中有升，区域旅游均衡化趋势逐步显现，旅游在外交和港澳台事务中的作用更加
突出。预计，2017 年旅游对国民经济和社会就业的综合贡献都将超过 10%。
目前以 80 后和 90 后以及中产阶级为代表的新生代消费群体已成为市场需求的主导者。他们
关注健康和自我发展，注重精神层面的消费。他们的消费理念也从过去的炫耀性、从众性、低品
质、浅层次消费向环保健康、个性化、时尚化、高品质、体验性消费转变。旅游者正由旅游中的
被动旁观向主动参与转变，更关注旅游活动中体验的深度和丰富度，更在意旅游内容的可体验、
可参与程度及丰富度，更强调从旅游中收获快乐与成长；对优质品牌和高品质的旅游产品提出新
的要求，并愿意为优质的产品和内容额外付费。新生代的消费诉求、消费理念、消费偏好的变化
推动新消费时代的到来，并倒逼旅游供给方的创新，要以更好的产品服务于不断变化和升级的市
场需求。
《中国旅游集团发展报告 2017》中指出：国民经济的发展，供给侧改革及大众创业万众创
新的推进，推动中国企业发生巨变。中国旅游企业正从过去被动的模仿、接受欧美生活方式、商
业模式到主动的输出商业模式、生活方式转变，从被影响到主动影响旅游业转变。旅游正从生活
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的构成部分转变为旅游即生活。旅游作为异地化的生活体验，正成为旅游企业变革创新的思想源
泉。
二、报告期内公司主要资产发生重大变化情况的说明
√适用 □不适用
详见“第四节管理层讨论与分析（六）重大资产和股权出售”
三、报告期内核心竞争力分析
√适用 □不适用
1、品牌优势。公司拥有“锦江旅游”等品牌，公司下属锦旅控股了整合了上海国旅、锦旅控
股、上旅、华亭海外的业务资源，实行统一品牌管理，2017 年“乐趣”品牌再次获得 2017 年度
上海名牌。依托各家旅行社的市场竞争力，公司拥有一批较为稳定的客户群体。
2、规模优势。公司和控股子公司历年来在全国百强旅行社评比中均名列前茅，在上海旅行社
行业中各项业务指标均较为领先，市场影响力较大、信用度较高。
3、资源优势。公司管理制度健全，经营运作规范，旅游产品不断丰富，操作手段不断成熟，
一线接待服务质量不断提高，近五十家门店分布于上海各个地区，客源基础充实，拥有一批素质
较高的专业人才队伍和国内外供应商。
4、集团优势。公司依托锦江国际集团综合实力和社会影响力，在同行竞争中处于相对优势地
位。集团在多次“中国旅游集团 20 强”排名中名列前茅。
2017 年度，公司下属旅行社企业锦旅控股荣获由上海市“企业诚信创建”活动组委会及上海
市旅游行业协会授予的上海市“五星级诚信创建企业”称号；上海国旅、锦旅控股、华亭海外荣
获上海市政府颁发的“2015-2016 年度上海市文明单位”；长乐路门店被上海市巾帼建功活动领
导小组和上海市妇女联合会评为“巾帼文明岗”；“锦江旅游”荣登 2017 新闻晨报推荐旅游类“诚
信企业榜”；锦旅控股在参加上海世界旅游博览会（SWTF）期间被评为“最受欢迎旅行社”；锦旅
控股荣获“国家旅业奖最受业者信任旅行社”；锦旅控股荣获“国家旅业奖日韩线 5 大批发商”、
“港澳线 3 大批发商”、“台湾线 5 大批发商”、“东南亚线 5 大批发商”、“海岛线 5 大批发商”；锦
旅控股荣获由澳大利亚旅游局颁发的“2017/19 年度优选合作伙伴”。
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第四节 经营情况讨论与分析
一、经营情况讨论与分析
旅游已成为当下衡量现代生活水平的重要指标，成为人民幸福生活的刚需。根据全国旅游工
作会议的数据显示：2017 年，我国人均出游已达 3.7 次，中国连续多年保持世界第一大出境旅游
客源国和全球第四大入境旅游接待国地位。同时，世界旅游格局随着中国旅游业的地位也在升级
发展，旅游业日益成为经济转型的新动能、消费升级的新引擎、供给侧改革的新抓手。
公司作为传统旅行社，2017 年是进入资源整合，打造“锦江旅游”品牌形象的“建设年”。
锦旅控股在上海国旅、原上海锦旅、上旅和华亭海外的业务整合基础上，实行统一经营、统一品
牌、统一办公、模式创新的理念，以市场为导向，全面优化管理结构、资产结构、盈利模式和激
励模式。2017 年公司在传统旅游发展上面临的经营压力进一步加大，如境内外旅游自由行占比提
高，热点目的地恐袭和爆炸事件频发，OTA 凭借手机端平台占据渠道优势等，公司下属旅行社仍
然坚持旅游主营业务紧扣产品、渠道、服务三大要素，大力鼓励产品创新，继续构建“移动终端、
线上直销平台（呼叫中心）、线下实体门店”三位一体的营销网络，提升接待服务质量以凸显品牌
品质。
公司出境游业务受制于游客出行方式改变和消费升级的原因，传统团队业务仍然面临较大挑
战。报告期内，公司实现出境游 10.52 万人次，比上年同期下降 32.39%。公司下属旅行社在保持
传统跟团游产品市场份额的同时，正在积极推进产品升级。从细节入手、从差异化着眼，加快推
陈出新，同时迎合中高端需求，开发空白点，试水定制游，如中东非洲的以色列约旦、摩洛哥线
路，以及澳新揽胜线路，凭借稳定的服务品质实现定期发团，受到市场积极回应。
今年公司入境游业务进入复苏阶段，入境游接待向组团转型初显成效。主要是下属旅行社积
极调整德语、法语等小语种的组团业务，在传统线路基础上推陈出新，开辟云南高端线路，延伸
桂林和广州旅游服务，提升产品销售量；同时抓住 2017 年中日邦交正常化 45 周年商机，重新拓
展日本游客市场初见成效，通过加大营销力度、推出一系列新线路和新主题、提高吃住行游品质
等方式，打造锦江特色系列团产品，成为江南地区日本团队量最多的接待社之一。此外，公司统
筹下属旅行社产品和接待资源、提倡质量为上，在确保接待质量的同时，积极开拓国内外资公司
的高端定制旅游市场，在这一市场实现重大突破。报告期内，公司实现传统入境组团 3.84 万人次，
比去年同期增长 32.41%；实现传统入境接待 4.92 万人次，比上年同期下降 16.33%。
国内游方面，报告期内，实现国内游 13.76 万人次，比去年同期下降 19.81%。公司加大对旅
行社原国内游品牌的梳理和统筹管理。业务发展上明确产品中高端定位，培育拳头产品。公司下
属旅行社梳理形成国内游产品品牌体系：以“锦”字品牌为核心，“锦尊”、“锦丽”等作为跟团游
产品标准品牌，继续保留“呼朋唤友”、“轻奢周末”定制散拼产品品牌，发展 “氧气美途”主
题游类产品品牌。此外公司下属旅行社加大高星级、高标准的自组产品开班频率，国内游业务开
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发创新的“年夜饭系列”、“国庆大巴系列”、“东方 CJ 系列”等已形成市场口碑，获得了良好的销
售业绩。
报告期内，出境游市场经历了欧洲、美洲、中东多次恐袭和爆炸事件，因韩国“萨德事件”
的影响使两国关系处于冰点，赴韩团队业务停滞，巴厘岛火山预警喷发等一系列不可抗力事件，
公司下属旅行社上下齐心，千方百计从研发新产品入手，满足市场不同游客的需求。在欧洲市场
上，新增奥地利一地、捷克一地以及保加利亚罗马尼亚等线路，填补了市场空白，获得市场认可。
美洲市场尝试加拿大+古巴线路、加拿大赏枫+极光，吸引更高端的游客需求；日本市场开发了一
系列亲子产品，如暑假的机器人酒店亲子团，冲绳的半自由行亲子团等；大洋洲市场则结合澳洲
的各大赛事，比如墨尔本赛马节，悉尼灯光音乐节，布里斯本嘉年华节，丰富了各段时期的产品，
让客人更加融入到澳洲的本土文化。韩朝市场受“萨德事件”的影响，积极进行业务和内部结构
调整，努力生产自救，把业务转向中亚地区，中亚业务从无到有，给公司创造了利润。
公司继续发挥大型活动接待的优势，公司下属旅行社高质量地完成了多个政府机构及大型企
业集团的出访团组。2017 年哈萨克斯坦阿斯塔纳世博会，公司下属旅行社派出专业团组参与前期
以及整个会期的接待工作，受到客户好评。同时，公司下属旅行社出色完成了 2 千多人的“小荷
风采”全国青少年舞蹈大赛、全国创业万众创新活动周活动，以及长三角党校校长论坛、全国国
安系统优秀武警上海疗休养等项目。团队的专业和协作能力为“锦江旅游”再次赢得优质服务的
美誉。
作为最接近目的地资源的传统业态，公司作为传统旅行社在资源对接，尤其是在服务落地提
升方面有着先天的优势，然而在与线上电商的同业竞争中，公司深知做精渠道的重要性。公司下
属旅行社积极与集团与 WeHotel 展开密切合作，发展跨界创新项目——Rex 系统。该系统提供酒
店、景点门票、目的地一日游、租车等多品类产品销售，采用迭代方式，边开发、边上线，快速
推进。自上线测试至今年年底，基本达到预期目标。
公司继续秉持“锦江品质游”的理念，公司下属旅行社整合后将导游领队建制单列，进一步
提高了对一线服务的质量管控力度，全力抓好管理、培训、质监三大环节。此外下属旅行社积极
探索实施导游领队外派业务，与相关企业及线上平台等同行达成合作意向，积极提高经济效益，
在行业内树立优质接待团队的标杆形象。
二、报告期内主要经营情况
2017 年度，公司实现合并营业收入 171,018.54 万元，比上年同期下降 10.35%；实现营业利
润 7,463.12 万元，比上年同期增长 12.78%；实现利润总额 7,619.09 万元，比上年同期增长 3.75%；
实现归属于上市公司股东的净利润 6,122.87 万元，比上年同期增长 0.15%。
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2017 年年度报告
(一) 主营业务分析
利润表及现金流量表相关科目变动分析表
单位:元 币种:人民币
科目 本期数 上年同期数 变动比例（%）
营业收入 1,710,185,432.74 1,907,531,142.26 -10.35
营业成本 1,576,203,039.49 1,768,005,141.78 -10.85
销售费用 120,286,259.41 124,015,398.85 -3.01
管理费用 53,691,765.16 59,365,288.89 -9.56
财务费用 -4,526,627.12 -4,327,455.23 不适用
经营活动产生的现金流量净额 -53,436,817.99 -64,802,366.73 不适用
投资活动产生的现金流量净额 80,739,707.82 26,932,683.66 199.78
筹资活动产生的现金流量净额 -30,753,054.64 -30,487,942.10 不适用
1. 收入和成本分析
√适用 □不适用
单位:元 币种:人民币
本期比上年同期增减
分产品 2017 年度营业收入 2016 年度营业收入
（%）
出境旅游 776,947,259.47 1,022,041,044.77 -23.98
入境旅游 143,202,746.78 104,557,984.35 36.96
国内旅游 182,617,887.15 222,362,856.85 -17.87
票务业务 330,902,941.00 348,746,521.28 -5.12
会奖等旅游业务 243,237,013.62 176,903,877.49 37.50
旅游及相关业务小计 1,676,907,848.02 1,874,612,284.74 -10.55
其他业务 7,420,274.67 7,664,993.01 -3.19
主营业务收入小计 1,684,328,122.69 1,882,277,277.75 -10.52
房产业务收入 25,857,310.05 25,253,864.51 2.39
营业收入合计 1,710,185,432.74 1,907,531,142.26 -10.35
主营业务分行业、分产品、分地区情况
单位:元 币种:人民币
主营业务分行业情况
营业收
营业成本 毛利率比
毛利率 入比上
分行业 营业收入 营业成本 比上年增 上年增减
（%） 年增减
减（%） （%）
（%）
旅游及相 1,676,907,848.02 1,559,801,229.89 6.98 -10.55 -11.00 增加 0.47
关业务 个百分点
其他业务 7,420,274.67 5,315,558.14 28.36 -3.19 -4.85 增加 1.24
个百分点
合计 1,684,328,122.69 1,565,116,788.03 7.08 -10.52 -10.98 增加 0.49
个百分点
主营业务分地区情况
营业收 毛利率
营业成本
毛利率 入比上 比上年
分地区 营业收入 营业成本 比上年增
（%） 年增减 增减
减（%）
（%） （%）
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2017 年年度报告
中国大陆 1,541,125,375.91 1,437,061,444.16 6.75 -13.16 -13.77 增加
地区 0.66 个
百分点
除中国大 143,202,746.78 128,055,343.87 10.58 32.97 39.73 减少
陆外其他 4.32 个
地区 百分点
合计 1,684,328,122.69 1,565,116,788.03 7.08 -10.52 -10.98 增加
0.49 个
百分点
主营业务分行业、分产品、分地区情况的说明
√适用 □不适用
主营业务分行业的情况说明
2017 年度，本公司旅游及相关业务的营业收入比上年同期下降 10.55%，占公司当年营业收
入的比重为 98.05%，与上年同期相比减少 0.22 个百分点，没有发生重大变化。
2017 年度，本公司其他业务的营业收入比上年同期下降 3.19%，占公司当年营业收入的比重
为 0.43%，与上年同期相比增加 0.03 个百分点，没有发生重大变化。
2017 年度，本公司旅游及相关业务的毛利率比上年同期增加 0.47 个百分点，主要是出境游、
国内游业务毛利率增长所致。
主营业务分地区的情况说明
2017 年度，本公司位于中国大陆地区的营业收入比上年同期下降 13.16%，占公司当年主营业
务收入的比重为 91.50%，与上年同期相比减少 2.78 个百分点，主要是出境游业务收入减少所致。
2017 年度，本公司位于中国大陆外其他地区的营业收入比上年同期增长 32.97%，占公司当年
主营业务收入的比重为 8.50%，与上年同期相比增加 2.78 个百分点，主要是入境组团业务收入增
加所致。
(1). 成本分析表
单位：元
分行业情况
本期金
上年同
本期占总 额较上
成本构 期占总 情况
分行业 本期金额 成本比例 上年同期金额 年同期
成项目 成本比 说明
(%) 变动比
例(%)
例(%)
旅游及 旅游垫 1,559,801,229.89 98.96 1,752,574,747.78 99.13 -11.00
相关业 付成本
务 等
其他业 货运业 5,315,558.14 0.34 5,586,357.28 0.32 -4.85
务 务成本
合计 1,565,116,788.03 99.30 1,758,161,105.06 99.44 -10.98
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2017 年年度报告
分产品情况
本期金
上年同
本期占总 额较上
成本构 期占总 情况
分产品 本期金额 成本比例 上年同期金额 年同期
成项目 成本比 说明
(%) 变动比
例(%)
例(%)
出境旅 旅游垫 721,796,681.87 45.79 956,611,019.61 54.11 -24.55
游业务 付成本
入境旅 旅游垫 128,055,343.87 8.12 89,131,473.58 5.04 43.67
游业务 付成本
国内旅 旅游垫 171,396,579.19 10.87 212,109,835.11 12.00 -19.19
游业务 付成本
票务业 旅游垫 324,975,768.68 20.62 343,800,538.43 19.44 -5.48
务 付成本
会奖等 会奖等 213,576,856.28 13.56 150,921,881.05 8.54 41.51
旅游业 旅游业
务 务垫付
成本
旅游及 1,559,801,229.89 98.96 1,752,574,747.78 99.13 -11.00
相关业
务小计
其他业 5,315,558.14 0.34 5,586,357.28 0.31 -4.85
务
主营业 1,565,116,788.03 99.30 1,758,161,105.06 99.44 -10.98
务成本
小计
房产业 11,086,251.46 0.70 9,844,036.72 0.56 12.62
务成本
营业成 1,576,203,039.49 100.00 1,768,005,141.78 100.00 -10.85
本合计
成本分析其他情况说明
√适用 □不适用
如前所述，本公司主要从事旅行社业务，营业成本主要为旅游垫付成本。2017 年度，公司旅
游及相关业务占公司当年全部营业成本的比重为 98.96%，比上年同期减少 0.17 个百分点，没有发
生重大变化。
2017 年度，本公司合并营业成本为 157,620 万元，比上年同期下降 10.85%。其中，旅游及相
关业务成本为 155,980 万元，比上年同期下降 11%,主要是出境游业务和国内游业务同比下滑等因
素影响。
(2). 主要销售客户及主要供应商情况
□适用 √不适用
2. 费用
□适用 √不适用
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2017 年年度报告
3. 研发投入
研发投入情况表
□适用 √不适用
情况说明
□适用 √不适用
4. 现金流
√适用 □不适用
1）经营活动产生的现金流量净额
本报告期-5,343.68 万元，上年同期-6,480.24 万元，比上年同期净额增加 1,136.56 万元，
主要是本报告期营业收入降幅小于上年同期所致。
（2）投资活动产生的现金流量净额
本报告期 8,073.97 万元，上年同期 2,693.27 万元，比上年同期额增加 5,380.70 万元，主要
是本报告期收回投资收到的现金比上年同期增加所致。
（3）筹资活动产生的现金流量净额
本报告期-3,075.31 万元，上年同期-3,048.79 万元，比上年同期增加 26.52 万元，主要是本
报告期现金分红比上年同期增加所致。
(二) 非主营业务导致利润重大变化的说明
√适用 □不适用
2017 年度，公司可供出售金融资产持有和处置取得的税前收益占公司当年合并利润总额的比
例为 137.05%，比上年同期减少 3.73 个百分点。其中，取得浦发银行、交通银行、豫园股份股票
等分配的现金股利 2,779.79 万元，比上年同期增加 343.81 万元，处置浦发银行、豫园股份股票
取得的税前投资收益 7,661.92 万元，比上年同期减少 240.76 万元。
(三) 资产、负债情况分析
√适用 □不适用
1. 资产及负债状况
单位：元
本期期末 上期期末
本期期末金额
数占总资 数占总资
项目名称 本期期末数 上期期末数 较上期期末变
产的比例 产的比例
动比例（%）
（%） （%）
货币资金 224,173,241.14 13.98 485,439,979.21 29.28 -53.82
应收账款 103,142,917.34 6.43 79,753,861.76 4.81 29.33
预付款项 38,171,218.47 2.38 67,151,363.98 4.05 -43.16
其他应收款 14,659,151.07 0.91 9,902,821.35 0.60 48.03
17/58
2017 年年度报告
可供出售金融资产 947,428,678.05 59.10 730,483,302.60 44.06 29.70
在建工程 3,970,272.48 0.25 664,910.37 0.04 497.11
递延所得税资产 15,098,051.41 0.94 9,999,729.76 0.60 50.98
应交税费 7,930,915.90 0.49 12,047,677.13 0.73 -34.17
其他应付款 52,501,741.84 3.28 39,794,789.16 2.40 31.93
少数股东权益 -423,564.17 -0.03 -1,550,623.85 -0.09 不适用
资产及负债状况变化的原因说明：
（1）、货币资金
期末 224,173,241.14 元，期初 485,439,979.21 元，下降 53.82%，主要是投资可供出售金融资产
所致。
（2）、应收账款
期末 103,142,917.34 元，期初 79,753,861.76 元，增长 29.33%，主要是会奖业务应收款增加所
致。
（3）、预付款项
期末 38,171,218.47 元，期初 67,151,363.98 元，下降 43.16%，主要是出境游业务预付款减少所
致。
（4）、其他应收款
期末 14,659,151.07 元期初 9,902,821.35 元，增长 48.03%，主要是电商销售平台代收经营款增
加所致。
（5）、可供出售金融资产
期末 947,428,678.05 元，期初 730,483,302.60 元，增长 29.70%，主要是投资增加所致。
（6）、在建工程
期末 3,970,272.48 元， 期初 664,910.37 元，增长 497.11%，主要是装修办公场所支出增加所致。
（7）、递延所得税资产
期末 15,098,051.41 元，期初 9,999,729.76 元，增长 50.98%，主要是因子公司经营亏损而确认
递延所得税资产所致。
（8）、应交税费
期末 7,930,915.90 元，期初 12,047,677.13 元，下降 34.17%，主要是应交所得税减少所致。
（9）、其他应付款
期末 52,501,741.84 元，期初 39,794,789.16 元，增长 31.93%，主要是收到处置代持股票款所致。
（10）少数股东权益
期末-423,564.17 元，期初-1,550,623.85 元，增加 1,127,059.68 元，主要是控股子公司扭亏为
盈，盈利增加所致。
其他说明：
18/58
2017 年年度报告
2017 年 1 月 1 日至 2016 年 1 月 1 日至 变化率（％）
利润表项目 2017 年 12 月 31 日 2016 年 12 月 31 日
税金及附加 4,494,367.68 6,869,959.21 -34.58
资产减值损失(转回) -99,195.10 -1,513,121.69 不适用
其他收益 2,457,109.41 - 不适用
营业外收入 1,849,672.45 7,735,362.13 -76.09
少数股东损益 1,127,059.68 -100,908.10 不适用
其他综合收益(损失)的税后净额 -50,778,639.61 -131,864,218.76 不适用
利润表项目的变化原因说明：
（1）、税金及附加
本期 4,494,367.68 元，上年同期 6,869,959.21 元，同比下降 34.58%，主要是营业税改增值税影
响所致。
（2）、资产减值损失(转回)
本期-99,195.10 元，上年同期-1,513,121.69 元，同比减少 1,413,926.59 元，主要是收回已计提
坏账准备的应收账款所致。
(3)、其他收益
本期 2,457,109.41 元，上年同期 0 元，同比增加 2,457,109.41 元，主要是根据财政部于 2017
年新颁布经修订的《企业会计准则第 16 号—政府补助》，将与企业日常经营活动有关的政府补助
计入本项目所致。
（4）、营业外收入
本期 1,849,672.45 元，上年同期 7,735,362.13 元，同比下降 76.09%，主要是根据财政部于 2017
年新颁布经修订的《企业会计准则第 16 号—政府补助》，将与企业日常经营活动有关的政府补助
计入其他收益所致。
（5）、少数股东损益
本期 1,127,059.68 元，上年同期-100,908.10 元，同比增加 1,227,967.78 元，主要是控股子公
司扭亏为盈，盈利增加所致。
（6）其他综合收益(损失)的税后净额
本期-50,778,639.61 元，上年同期-131,864,218.76 元，同比增加 81,085,579.15 元，主要是可
供出售金融资产公允价值下降幅度小于上年同期所致。
2. 截至报告期末主要资产受限情况
□适用 √不适用
3. 其他说明
□适用 √不适用
19/58
2017 年年度报告
(四) 行业经营性信息分析
√适用 □不适用
《2018 年全国旅游工作报告》指出：我国连续多年保持世界第一大出境旅游客源国和全球第
四大入境旅游接待国地位。预计 2017 年旅游总收入 5.4 万亿元，比 2012 年增长 2.81 万亿元，年
均增长 15.83%。2017 年国内旅游市场为 50 亿人次， 比 2012 年增长 69.12%，年均增长 11.08%；
2017 年国内旅游收入为 4.57 万亿元，比 2012 年增长 101.15%，年均增长 15%。2017 年入境旅游
人数为 1.39 亿人次，比 2012 年增长 5%，年均增长 1%；其中外国人 2017 年为 2910 万人次，比
2012 年增长 7%，年均增长 1.4%。2017 年出境旅游市场为 1.29 亿人次，比 2012 年增长了 4580
多万人次，按可比口径年均增长 9.17%。
(五) 投资状况分析
1、 对外股权投资总体分析
√适用 □不适用
详见附注“对联营企业投资”、董事会报告“主要子公司、参股公司分析”
(1) 重大的股权投资
√适用 □不适用
根据股东大会、董事会制定的关于有效整合内外资源的战略要求，为优化公司金融资产结构，
提升资产流动性，有效控制投资风险的同时提高自有资金使用效率，实现股东利益最大化，公司
在 2017 年 6 月 15 日至 2017 年 6 月 21 日期间，以自有资金 30,009.08 万元，在二级证券市场增
持交通银行 4,935.25 万股,本次增持后公司合计持有交通银行 8,000 万股。请详见公司于 2017
年 6 月 20 日披露的《关于调整金融资产结构增持可供出售金融资产的公告》及 2017 年 6 月 23
日披露的《关于调整金融资产结构增持可供出售金融资产后续进展公告》（公告编号：2017-012、
013 号）。
(2) 重大的非股权投资
□适用 √不适用
(3) 以公允价值计量的金融资产
√适用 □不适用
期初 期末
会计核
证券 证券 投资 持股 持股 报告期 报告期所有
期末账面值 算 股份来源
代码 简称 成本 比例 比例 损益 者权益变动
科目
（%） （%）
原持有社会法
可供出
浦发 人股、二级市
600000 53,591,835.20 <1 <1 314,750,000.00 77,402,637.54 -54,668,901.01 售金融
银行 场购入、转增
资产
股
可供出 原持有社会法
交通
601328 347,184,719.86 <1 <1 496,800,074.52 21,720,003.26 14,562,854.74 售金融 人股、增配股、
银行
资产 二级市场购入
20/58
2017 年年度报告
可供出
豫园 原持有社会法
600655 3,936,155.59 <1 <1 124,081,067.28 5,029,287.70 -9,229,684.83 售金融
股份 人股
资产
可供出
申万 原持有社会法
000166 2,000,000.00 <1 <1 11,740,028.25 218,622.50 -1,442,908.51 售金融
宏源 人股
资产
合计 406,712,710.65 / / 947,371,170.05 104,370,551.00 -50,778,639.61 / /
其他说明：
根据公司股东大会、董事会制定的关于有效整合内外资源的战略要求， 为盘活持有的金融资产，
增加公司金融资产收益，公司将持有的“浦发银行”（证券代码：600000）股份 2,500 万股，“交
通银行”（证券代码：601328）股份 8,000.0012 万股，开展转融券业务。
请详见公司于 2017 年 7 月 25 日披露的《关于公司开展转融券业务的公告》公告编号：2017-015
号）
(六) 重大资产和股权出售
√适用 □不适用
1、买卖上市公司股份的情况
证券 股份名称 期 初 股 份 数 报 告 期 买 使用的资金数 报告期卖 期 末 股 份 产生的投资收 股份来
代码 量（股） 入股份数 量（元） 出股份数 数量（股） 益（元） 源
量（股） 量（股）
原持有社
会法人
浦发银行 股、二级
600000 24,885,975 - - 6,811,768 25,000,000 72,785,442.54
（注） 市场购
入、转增
股
原持有
社会法
人股、增
601328 交通银行 30,647,500 49,352,512 300,546,859.86 - 80,000,012 -
配股、二
级市场
购入
原持有
600655 豫园股份 11,954,830 - - 401,658 11,553,172 3,833,804.70 社会法
人股
合计 76,619,247.24
2、买卖其他上市公司股份的情况
证券 股份名称 期初股份数 报告期买 使用的资金数 报告期卖 期末股份 产生的投资收 股份来
代码 量（股） 入股份数 量（元） 出股份数 数量（股） 益（元） 源
量（股） 量（股）
新股申购
603976 正川股份 - 329 4,711.28 329 - 9,967.06
中签购入
新股申购
603181 皇马科技 - 353 3,657.08 353 - 7,511.86
中签购入
新股申购
603127 昭衍新药 - 246 3,077.46 246 - 13,789.74
中签购入
新股申购
603813 原尚股份 - 278 2,728.26 278 - 6,389.91
中签购入
21/58
2017 年年度报告
新股申购
603500 祥和实业 - 378 4,978.26 378 - 10,468.99
中签购入
新股申购
603183 建研院 - 261 3,539.16 261 - 12,323.46
中签购入
新股申购
603527 众源新材 - 362 4,803.74 362 - 7,537.36
中签购入
新股申购
603725 天安新材 - 450 4,338.00 450 - 7,852.85
中签购入
新股申购
603882 金域医学 - 634 4,393.62 634 - 19,719.31
中签购入
新股申购
603277 银都股份 - 454 5,615.98 454 - 6,518.88
中签购入
新股申购
603386 广东骏亚 - 601 3,744.23 601 - 12,026.06
中签购入
新股申购
603648 畅联股份 - 1,274 9,389.38 1,274 - 22,192.52
中签购入
新股申购
603321 梅轮电梯 - 888 5,390.16 888 - 12,994.32
中签购入
新股申购
603533 掌阅科技 - 293 1,186.65 293 - 14,320.75
中签购入
新股申购
603106 恒银金融 - 636 6,837.00 636 - 12,520.79
中签购入
新股申购
603055 台华新材 - 615 5,564.15 615 - 8,731.08
中签购入
新股申购
603963 大理药业 - 224 2,817.92 224 - 6,344.35
中签购入
新股申购
603157 拉夏贝尔 - 493 4,146.13 493 - 9,185.08
中签购入
新股申购
603363 傲农生物 - 490 2,347.10 490 - 8,460.20
中签购入
新股申购
603378 亚士创能 - 574 7,427.56 574 - 12,918.81
中签购入
新股申购
603367 辰欣药业 - 883 10,295.78 883 - 15,214.58
中签购入
新股申购
601086 国芳集团 - 1,277 4,035.32 1,277 - 11,274.19
中签购入
新股申购
603103 横店影视 - 581 8,976.45 581 - 14,772.46
中签购入
新股申购
603110 东方材料 - 300 3,912.00 300 - 7,556.49
中签购入
新股申购
603499 翔港科技 - 280 2,587.20 280 - 6,351.75
中签购入
新股申购
603829 洛凯股份 - 440 3,281.20 440 - 7,172.03
中签购入
新股申购
603683 晶华新材 - 234 2,185.56 234 - 4,975.05
中签购入
新股申购
603466 风语筑 - 421 6,971.76 421 - 22,299.62
中签购入
新股申购
603922 金鸿顺 - 372 6,524.88 372 - 8,088.35
中签购入
新股申购
601108 财通证券 - 3,771 42,951.69 3771 - 35,454.77
中签购入
新股申购
603722 阿科力 - 245 2,753.80 245 - 12,569.93
中签购入
新股申购
603607 京华激光 - 240 3,849.60 240 - 9,900.91
中签购入
新股申购
603260 合盛硅业 - 589 11,497.28 589 - 32,258.31
中签购入
22/58
2017 年年度报告
新股申购
603289 泰瑞机器 - 526 4118.58 526 - 10,468.85
中签购入
新股申购
603937 丽岛新材 - 562 5,389.58 562 - 9,106.98
中签购入
新股申购
603912 佳力图 - 413 3,568.32 413 - 9,575.40
中签购入
新股申购
603659 璞泰来 - 661 10,926.33 661 - 27,560.33
中签购入
新股申购
603507 振江股份 - 228 5,985.00 228 - 7,413.57
中签购入
新股申购
603809 豪能股份 - 270 6,045.30 270 - 5,257.69
中签购入
新股申购
600903 贵州燃气 - 1,269 2,804.49 1,269 - 10,286.94
中签购入
新股申购
603083 剑桥科技 - 208 3,130.40 208 - 7,829.66
中签购入
新股申购
603278 大业股份 - 547 8,374.57 547 - 8,766.66
中签购入
新股申购
603916 苏博特 - 778 7,017.56 778 - 11,594.62
中签购入
新股申购
603605 珀莱雅 - 324 4,970.16 324 - 6,256.73
中签购入
新股申购
600933 爱柯迪 - 1,620 17,836.20 1620 - 14,866.72
中签购入
新股申购
601019 山东出版 - 2,806 28,508.96 2806 - 17,201.08
中签购入
新股申购
603365 水星家纺 - 671 10,736.00 671 - 9,231.15
中签购入
新股申购
603661 恒林股份 - 246 13,992.48 246 - 11,110.70
中签购入
新股申购
600025 华能水电 - 15,262 33,118.54 15,262 - 34,389.66
中签购入
新股申购
603685 晨丰科技 - 164 3,450.56 164 - 3,595.33
中签购入
新股申购
603711 香飘飘 - 364 5161.52 364 - 5,372.31
中签购入
新股申购
603848 好太太 - 283 2,232.87 283 - 4,205.03
中签购入
新股申购
603917 合力科技 - 226 3,213.72 226 - 3,780.03
中签购入
新股申购
603890 春秋电子 - 263 6,238.36 263 - 4,954.73
中签购入
新股申购
603161 科华控股 - 258 4,321.50 - 258 -
中签购入
新股申购
603477 振静股份 - 589 3,286.62 - 589 -
中签购入
新股申购
603283 赛腾股份 - 361 2,490.90 - 361 -
中签购入
新股申购
603655 朗搏科技 - 267 1,724.82 - 267 -
中签购入
新股申购
603329 上海雅仕 - 356 3,752.24 - 356 -
中签购入
新股申购
603080 新疆火炬 - 358 4,868.80 - 358 -
中签购入
合计 632,485.99
23/58
2017 年年度报告
注: 根据浦发银行于 2017 年 5 月 18 日发布的《2016 年年度权益分派实施公告》，向登记在册的
股东每股派发现金红利 0.2 元（含税），以资本公积金向全体普通股股东每 10 股转增 0.3 股，公
司获增 6,925,793 股。
2、 其他股权出售情况
2017 年 3 月 28 日，公司与上海交运（集团）公司签订了《上海浦江游览有限公司股权转
让协议》，以人民币 1,570.24 万元的价格，转让本公司持有的上海浦江游览有限公司 20%股权。
请详见公司于 2017 年 3 月 30 日披露的《关于转让公司持有的上海浦江游览有限公司 20%股权的
公告》。（公告编号 2017-006 号）。
(七) 主要控股参股公司分析
√适用 □不适用
1、主要子公司分析
单位：元 币种：人民币
子公司 主要产品或服
行业 注册资本 总资产 净资产 净利润
名称 务
上 海 国 旅
服务业 旅游业务 20,000,000.00 88,997,234.41 38,010,373.55 -5,053,526.76
（注）
锦旅控股 服务业 旅游业务 24,990,000.00 163,108,982.62 4,842,759.97 -17,192,307.47
上旅 服务业 旅游业务 2,000,000.00 1,718,370.66 -1,766,543.82 -105,025.38
华亭海外 服务业 旅游业务 10,830,738.58 10,620,119.01 7,567,800.13 -103,905.18
上海国之旅
物业管理及室
物业管理有 服务业 1,000,000.00 11,449,270.34 1,262,806.69 20,945.94
内装潢
限公司
上海国之旅
国际货运代 服务业 货运代理 5,000,000.00 3,584,135.20 2,737,966.61 -986,938.01
理有限公司
上海国之旅
导游服务有 服务业 导游相关业务 100,000.00 1,078,389.55 483,886.35 17,942.53
限公司
上海国旅广
服务业 旅游广告业务 600,000.00 1,227,983.39 1,402,853.99 -5,593.94
告公司
上海锦江出
出入境相关业
入境服务有 服务业 1,000,000.00 5,907,709.50 1,372,391.29 70,197.07
务
限公司
北京锦江国
际旅行社有 服务业 旅游业务 4,000,000.00 18,724,033.21 -88,476.96 183,669.98
限公司
浙江锦旅国
际旅行社有 服务业 旅游业务 5,000,000.00 793,221.98 -140,950.21 4,551.22
限公司
上海锦江国
际绿色假期
服务业 旅游业务 6,000,000.00 1,151,743.74 -4,061,155.30 -1,191,274.82
旅游有限公
司
注：为应对激烈的行业竞争，提升公司整体经营质量和效益，公司对旅行社业务进行改革，统一
以“锦江旅游”品牌对外经营，同时保留原各家旅行社品牌名称。自 2016 年 9 月开始，上海国旅的
出境游和国内游等公民游业务整合到锦旅控股。
2、主要参股企业分析
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2017 年年度报告
单位：元 币种：人民币
营业收入 营业利 净利润
参股公司 变化原
营业收入 变化率 营业利润 润变化 净利润 变化率
名称 因说明
（%） 率（%） （%）
上海锦江商 主要是
旅汽车服务 该公司
319,605,326.70 2.29 32,113,513.60 -2.11 31,080,144.48 7.79
股份有限公 投资收
司 益增加
(八) 公司控制的结构化主体情况
□适用 √不适用
三、公司关于公司未来发展的讨论与分析
(一) 行业格局和趋势
√适用 □不适用
根据 2017 年 12 月 19 日中国旅游研究院和国家旅游局数据中心发布的《2017 年中国旅游经
济运行分析和 2018 年发展预测》，2018 年旅游经济总体持乐观预期。预计国内旅游持续增长，出
境旅游稳定增长，入境旅游平稳发展，旅游投资维持高位，旅游就业稳步增加。国内和入境旅游
人数有望超过 57 亿人次，实现旅游总收入预计突破 6 万亿元。旅游投资仍将保持较快增长，新解
决旅游就业 100 万人。
报告认为，2018 年旅游经济发展有五大利好：一是稳步复苏的世界经济将进一步夯实国际旅
游市场的经济环境；二是中国经济的高质量发展将推动旅游业更平衡、更充分发展；三是旅游业
战略地位将更加凸显、政策红利将加快释放；四是旅游作为中国梦的重要组成部分，将为产业发
展注入强大动力；五是旅游作为解决社会主要矛盾的主力军和新动力作用将更加突出。
目前中国旅游业正在经历前所未有的历史性转变：1．从粗放型旅游发展向比较集约型旅游发
展转变。2．从小众旅游向大众旅游转变。3．从景点旅游向全域旅游转变。4．从观光旅游向观光
休闲旅游并重转变。5．从浅层次旅游向深层次旅游转变。6．从事业方向向产业方向转变。7．从
被动跟从国际规则向积极主动的旅游国际合作和旅游外交转变。8．从旅游大国向旅游强国转变。
(二) 公司发展战略
√适用 □不适用
旅游行业宏观经济面继续看好，旅游市场和产品结构继续向新业态方向发展，休闲度假、自
由行仍将高速增长；旅游行业资本市场的发展以及风投资金的进入，带来行业内收购重组和资产
配置的变化，在线平台加快旅游业务拓展步伐，旅游企业全球化布局步伐加快。中国旅游业发展
欣欣向荣，成为经济新常态下的重要增长点，未来五年仍有望保持高速发展势头。
公司将继续以旅行社业务为主进行相关业务联动，加大下属旅行社在业务和资源方面的整合
力度，成为深耕上海、国内领先、国际布局的旅游服务商。根据公司制定的“十三五”战略发展
规划，公司的发展目标是成为旅行社业务为主、相关业务联动，扎根上海、国内领先的综合性旅
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2017 年年度报告
游服务上市公司。
公司将通过线下业务整合、线上业务构建等战略举措，优化商业模式，做大做强旅行社业务；
产品开发上更贴近旅游市场偏向自由行和定制化的趋势；同时，创新业务系统，打造以旅行社业
务为主、相关业务联动的多元化发展格局，加快推进战略布局，有效整合内外资源。
(三) 经营计划
√适用 □不适用
2018 年，公司将继续提升整体经营质量和效益， 发挥下属旅行社业务、资源整合的协同效
应，加强业务联动，实现线上线下联动，实现各品牌间以及酒店、旅游间的优势互补。扎实做好
锦江旅游产品和业务结构转型发展；深化渠道、服务的提升环节，推动旅游业务提质增效。
一、加快优化产品和业务结构，深挖传统业务潜能
推动业务板块均衡发展，形成旅行服务全系列。公司在保持公民游传统业务优势的同时，将
大力发展差旅管理、会展会奖、入境旅游业务，提高公司整体抗风险能力，加快发展成为综合性
旅游服务供应商；以孵化方式培育新业务，加快推进定制游、主题游、自由行等新型业务做大做
强，形成规模并带动传统业务转型。以市场为导向，加大对市场跟踪分析、研究预判的力度。
二、用好线上线下渠道，提高精准营销能力
加快三位一体营销网络全覆盖，采用精品加盟、品牌合作等方式，精细化管理线下营销平台，
丰富实体门店功能，强化“锦江旅游”市场形象；对接 WeHotel，充分用好 WeHotel 平台和锦江
旅行 APP，扎实推进 Rex 系统建设，打造酒店、景点门票、目的地一日游、租车等多品类、碎片
化产品销售模式；探索通过锦江酒店网络推广销售，打响“住锦江酒店、品锦江美食、坐锦江车、
享锦江服务”的锦江品牌一体化产品。
三、强化培训机制，凸显“锦江旅游”品牌品质
公司全力支持下属旅行社企业开展全方位、多元化的业务培训和联动，提高操作人员、销售
人员、导游领队等岗位对产品的理解，为旅游服务的顺利实施奠定基础，打造行业标杆操作和接
待队伍。
四、抓好正风严纪，形成风清气正的整体氛围
公司将贯彻“依法治国”精神，增强“依法治企”意识，抓好党风廉政建设，落实“一岗双
职”，加强制度建设和过程监管，落实风控措施，做到防微杜渐。
五、推进卓越绩效管理，激发活力构建后备人才梯队
公司将继续推进卓越绩效管理，鼓励内部创业创新。对照卓越管理要求，加强过程管理和精
细化管理，不断提升公司经营管理水平。加强对青年员工选拔培养，通过轮岗、带教、组织内外
部培训、跨部门研讨等多种方式提升青年员工的业务水平，搭建人才后备梯队。
(四) 可能面对的风险
√适用 □不适用
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2017 年年度报告
第一，行业风险。旅行社行业对社会政治、经济、文化、安全保护、自然灾害等各类重大事
件较为敏感，突发性的境内外重大事件一旦发生将直接影响旅游目的地和旅游客源地，造成旅行
社业务发展的波动性。
第二，经营风险。旅行社业务经营会产生比较大的应收帐款，市场的波动以及债务人的偿债
能力的降低，都会直接影响应收帐款的回收。作为劳动密集型企业，劳动力成本费用的逐年递增，
要求旅行社必须保持一定的发展速度。当前市场中的不正当竞争、低价低层次竞争现象仍然存在，
在线旅行社的兴起推动行业整体利润率进一步下滑。公司现有的业务大量依托传统的线下营销，
近年来快速增长的在线旅游对公司业务模式带来新的挑战。
第三，市场竞争风险。传统旅行社企业受迅速成长的在线旅游业巨大的冲击，传统团队业务
面临较大挑战，利润空间、市场份额不断被挤压，政策优势逐步衰减。在出行方式上，也受到消
费需求升级的影响，标准化的旅游方式已经不能满足多数消费者的消费需求了。因此，散客化的
出行方式，互联网无线技术的发展，促使团队游产品在市场上受到冲击。
第四，核心经营人员变动风险。公司的经营比较倚重于经营部门和业务人员。这些部门和人
员的变化会直接影响公司的经营规模和业绩。
第五，汇率变动风险。公司的业务大量涉及外汇交易和结算，人民币与相应外汇的汇率变化
会影响到公司的成本和收益。
对于以上风险，公司通过加强制度建设、完善内部控制体系、加大产品尤其是定制游和碎片
化组合产品的开发力度、强化激励约束机制等方式，通过辨析重要风险控制点，严格执行各项规
章制度，建立应急机制，不断提高风险防范、控制和应对能力。
(五) 其他
□适用 √不适用
四、公司因不适用准则规定或国家秘密、商业秘密等特殊原因，未按准则披露的情况和原因说明
□适用 √不适用
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2017 年年度报告
第五节 重要事项
一、普通股利润分配或资本公积金转增预案
(一) 现金分红政策的制定、执行或调整情况
√适用 □不适用
报告期内，公司董事会、股东大会审议通过的 2016 年度利润分配方案，其现金分红标准、比
例和决策程序等，均符合有关法律法规和《公司章程》的相关规定。B 股红利按公司 2016 年度股
东大会决议日下一工作日（2017 年 6 月 9 日）中国人民银行公布的美元兑换人民币中间价“1 美
元兑人民币 6.7971 元”折算，每股分配现金红利 0.034132 美元(含税)。
2016 年 7 月 12 日，公司在《上海证券报》、《大公报》上刊登《2016 年度利润分配实施公告》。
B 股最后交易日：2017 年 7 月 18 日；除息日：2017 年 7 月 19 日；B 股股权登记日：2017 年 7 月
21 日；B 股现金红利发放日：2017 年 7 月 28 日。B 股红利委托中国证券登记结算有限责任公司上
海分公司发放。控股股东的现金红利由公司直接发放。
(二) 公司近三年（含报告期）的普通股股利分配方案或预案、资本公积金转增股本方案或预案
单位：元 币种：人民币
占合并报表
分红年度合并
中归属于上
每 10 股送 每 10 股派 现金分红的数 报表中归属于
分红 每 10 股转 市公司普通
红股数 息数(元) 额 上市公司普通
年度 增数（股） 股股东的净
（股） （含税） （含税） 股股东的净利
利润的比率
润
(%)
2017 年 2.34 31,018,167.18 61,228,732.75 50.66
2016 年 2.32 30,753,054.64 61,137,877.20 50.30
2015 年 2.30 30,487,942.10 60,752,458.26 50.18
(三) 以现金方式要约回购股份计入现金分红的情况
□适用 √不适用
(四) 报告期内盈利且母公司可供普通股股东分配利润为正，但未提出普通股现金利润分配方
案预案的，公司应当详细披露原因以及未分配利润的用途和使用计划
□适用 √不适用
二、承诺事项履行情况
(一) 公司实际控制人、股东、关联方、收购人以及公司等承诺相关方在报告期内或持续到报告期
内的承诺事项
√适用 □不适用
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2017 年年度报告
是 如未
是 如未能
否 能及
否 及时履
及 时履
有 行应说
承 诺 承诺 承诺 时 行应
承诺方 承诺时间及期限 履 明未完
背景 类型 内容 严 说明
行 成履行
格 下一
期 的具体
履 步计
限 原因
行 划
解决 锦江国 本次收购完成后，保 2011 年 1 月 28 日， 否 是
同业 际、锦江 证采取有效措施，避 就锦江酒店向锦江国
竞争 酒店 免其下属企业从事与 际收购其持有的本公
上市公司构成或可能 司 66,556,270 股国
构成实质性同业竞争 有股份（占总股本的
的业务或活动。如将 比例 为 50.21%），在
来经营的产品或服务 锦江酒店签署的《收
与上市公司或其下属 购报告书》中，锦江
企业有可能形成竞 国际与锦江酒店做出
争，上市公司有权按 承诺，该承诺将长期
合理价格收购相关竞 有效。
争性业务和资产。
解决 锦江国 本次收购完成后，将 2011 年 1 月 28 日， 否 是
关联 际、锦江 尽量减少与上市公司 就锦江酒店向锦江国
收 购
交易 酒店 之间的关联交易；在 际收购其持有的本公
报 告
进行确有必要且无法 司 66,556,270 股国
书 或
规避的关联交易时， 有股份（占总股本的
权 益
将按照相关法律法 比 例 为 50.21%），
变 动
规、规范性文件以及 在锦江酒店签署的
报 告
《公司章程》的相关 《收购报告书》中，
书 中
规定履行交易决策程 锦江国际与锦江酒店
所 作
序及信息披露义务， 做出承诺，该承诺将
承诺
并保证按市场化原则 长期有效。
和公允价格进行公平
操作。
其他 锦江酒 保证上市公司人员独 2011 年 1 月 28 日， 否 是
店 立、资产独立完整、 就锦江酒店向锦江国
财务独立、机构独立、 际收购其持有的本公
业务独立。 司 66,556,270 股国
有股份（占总股本的
比例 为 50.21%），在
锦江酒店签署的《收
购报告书》中，锦江
国际与锦江酒店做出
承诺，该承诺将长期
有效。
(二) 公司资产或项目存在盈利预测，且报告期仍处在盈利预测期间，公司就资产或项目
是否达到原盈利预测及其原因作出说明
□已达到 □未达到 √不适用
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2017 年年度报告
三、报告期内资金被占用情况及清欠进展情况
□适用 √不适用
四、公司对会计师事务所“非标准意见审计报告”的说明
□适用 √不适用
五、公司对会计政策、会计估计变更或重大会计差错更正原因和影响的分析说明
（一） 公司对会计政策、会计估计变更原因及影响的分析说明
√适用 □不适用
1、2017 年 5 月 10 日，财政部发布了新修订的《企业会计准备第 16——政府补助》，要求应当
在利润表中的“营业利润”项目之上单独列报“其他收益”项目，计入其他收益的政府补助在该
项目中反映。对 2017 年 1 月 1 日后发生的政府补助采用未来适用法处理，对 2017 年 1 月 1 日至
本准则施行日之间新增的政府补助根据本准则进行调整。
公司根据财政部《关于印发修订〈企业会计准则第 16 号—政府补助〉的通知》（财会[2017]15
号）的要求，公司将修改财务报表相关列报，在利润表中的“营业利润”项目之上单独列报“其
他收益”项目，将自 2017 年 1 月 1 日起收到的与企业日常活动有关的政府补助对损益的影响从
“营业外收入”项目重分类至“其他收益”项目。
本次调整不涉及对财务报表的比较数据进行追溯调整，对公司财务状况、经营成果及现金流量
不产生影响。
请详见公司于 2017 年 8 月 30 日披露的《关于执行 2017 年新修订的相关企业新会计准则的公
告》。（公告编号 2017-025 号）。
2、2017年4月28日，财政部颁布了《企业会计准则第42号——持有待售的非流动资产、处置
组和终止经营》（财会[2017]13号），要求自2017年5月28日起在所有执行企业会计准则的企业范围
内施行；2017年12月25日，财政部发布了《关于修订印发一般企业财务报表格式的通知》（财会
[2017]30号），要求执行企业会计准则的非金融企业应当按照企业会计准则和通知要求编制2017
年度及以后期间的财务报表。
《企业会计准则第42号——持有待售的非流动资产、处置组和终止经营》（财会[2017]13号）
对持有待售类别的非流动资产或处置组的分类、计量作出了具体规定，要求在利润表中分别列示
“持续经营净利润（净亏损）”和“终止经营净利润（净亏损）”科目，在附注中详细披露持有待
售非流动资产或处置组、终止经营的信息。该准则要求采用未来适用法处理，未对可比年度财务
报表产生影响。
《关于修订印发一般企业财务报表格式的通知》要求执行企业会计准则的非金融企业，应当
按照企业会计准则和通知要求编制2017年度及以后期间的财务报表。本公司出售划分为持有待售
的非流动资产（金融工具、长期股权投资和投资性房地产除外）或处置组时确认的处置利得或损
失，以及处置划分为持有待售的固定资产、在建工程、及无形资产而产生的处置利得或损失。根
据《关于修订印发一般企业财务报表格式的通知》的要求，公司将原计入“营业外收入”或“营
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业外支出”的非流动资产处置损益重分类至“资产处置收益”。对于上述列报项目的变更，本公司
采用追溯调整法进行会计处理，并对上年比较数据进行调整。
本次调整仅对财务报表项目列示产生影响，对公司财务状况、经营成果和现金流量不产生影
响。
（二） 公司对重大会计差错更正原因及影响的分析说明
□适用 √不适用
（三） 与前任会计师事务所进行的沟通情况
□适用 √不适用
（四） 其他说明
□适用 √不适用
六、聘任、解聘会计师事务所情况
单位：元 币种：人民币
现聘任
境内会计师事务所名称 德勤华永会计师事务所（特殊普通合伙）
境内会计师事务所报酬 950,000
境内会计师事务所审计年限 24
名称 报酬
内部控制审计会计师事务所 德勤华永会计师事务所（特殊普通合伙） 350,000
聘任、解聘会计师事务所的情况说明
□适用 √不适用
审计期间改聘会计师事务所的情况说明
□适用 √不适用
七、面临暂停上市风险的情况
(一) 导致暂停上市的原因
□适用 √不适用
(二) 公司拟采取的应对措施
□适用 √不适用
八、面临终止上市的情况和原因
□适用 √不适用
九、破产重整相关事项
□适用 √不适用
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十、重大诉讼、仲裁事项
□本年度公司有重大诉讼、仲裁事项 √本年度公司无重大诉讼、仲裁事项
十一、上市公司及其董事、监事、高级管理人员、控股股东、实际控制人、收购人处罚及整改情
况
□适用 √不适用
十二、报告期内公司及其控股股东、实际控制人诚信状况的说明
√适用 □不适用
报告内，公司及其控股股东、实际控制人不存在未履行法院生效判决、所负数额较大的债务到期
未清偿等情况。
十三、公司股权激励计划、员工持股计划或其他员工激励措施的情况及其影响
(一) 相关激励事项已在临时公告披露且后续实施无进展或变化的
□适用 √不适用
(二) 临时公告未披露或有后续进展的激励情况
股权激励情况
□适用 √不适用
其他说明
□适用 √不适用
员工持股计划情况
□适用 √不适用
其他激励措施
□适用 √不适用
十四、重大关联交易
(一) 与日常经营相关的关联交易
1、 已在临时公告披露且后续实施无进展或变化的事项
√适用 □不适用
事项概述 查询索引
2017 年 3 月 28 日，公司董事会八届八次会议审议 详见 2017 年 3 月 30 日上海证券报、上海证
《公司日常关联交易议案》。涉及的交易属同一集 券交易所（www.sse.com.cn）《公司日常关联
团兄弟公司或关联公司与公司之间提供的客运、酒 交易公告》。（公告编号：2017‐004）
店、旅游、物业等配套服务，系旅游上、下游企业
之间及与相关专业企业之间的业务关系。
2、 已在临时公告披露，但有后续实施的进展或变化的事项
□适用 √不适用
3、临时公告未披露的事项
□适用 √不适用
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(二)资产或股权收购、出售发生的关联交易
1、 已在临时公告披露且后续实施无进展或变化的事项
□适用 √不适用
2、 已在临时公告披露，但有后续实施的进展或变化的事项
□适用 √不适用
3、 临时公告未披露的事项
□适用 √不适用
4、 涉及业绩约定的，应当披露报告期内的业绩实现情况
□适用 √不适用
(三) 共同对外投资的重大关联交易
1、 已在临时公告披露且后续实施无进展或变化的事项
□适用 √不适用
2、 已在临时公告披露，但有后续实施的进展或变化的事项
□适用 √不适用
3、 临时公告未披露的事项
□适用 √不适用
(四) 关联债权债务往来
1、 已在临时公告披露且后续实施无进展或变化的事项
□适用 √不适用
2、 已在临时公告披露，但有后续实施的进展或变化的事项
□适用 √不适用
3、 临时公告未披露的事项
□适用 √不适用
(五) 其他
□适用 √不适用
十五、重大合同及其履行情况
(一) 托管、承包、租赁事项
1、 托管情况
□适用 √不适用
2、 承包情况
□适用 √不适用
3、 租赁情况
□适用 √不适用
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(二) 担保情况
□适用 √不适用
(三) 委托他人进行现金资产管理的情况
1、 委托理财情况
(1).委托理财总体情况
□适用 √不适用
其他情况
□适用 √不适用
(2).单项委托理财情况
□适用 √不适用
其他情况
□适用 √不适用
(3).委托理财减值准备
□适用 √不适用
2、 委托贷款情况
(1).委托贷款总体情况
□适用 √不适用
其他情况
□适用 √不适用
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2017 年年度报告
(2).单项委托贷款情况
√适用 □不适用
未来 减值
单
年化 是 否 是否 准备
位 ： 元 报酬 预期收益 实际 实 际
委托贷 委托贷款 委托贷款 资金 资金 收益 经 过 有委 计提
币种：人 委托贷款金额 确定 (如有) 收益或损 收 回
款类型 起始日期 终止日期 来源 投向 率
失 法 定 托贷 金额
民币受 方式 情况
程序 款计 ( 如
托人
划 有)
锦江 国 上海锦江
际集 团 补充流 国际绿色
2016 年 2017 年 自 有 按季 到 期
财务 有 动资金 2,100,000.00 假期旅游 4.04% 19,524.82 19,524.82 是 是 无
3 月 27 日 3 月 26 日 资金 结息 收 回
限责 任 贷款 有限公司
公司 （子公司）
锦江 国 上海锦江
际集 团 补充流 国际绿色
2017 年 2018 年 自 有 按季 未 到
财务 有 动资金 2,100,000.00 假期旅游 4.04% 65,315.18 65,315.18 是 是 无
3 月 27 日 3 月 26 日 资金 结息 期
限责 任 贷款 有限公司
公司 （子公司）
锦江 国 上海锦江
际集 团 补充流 国际绿色
2017 年 2018 年 自 有 按季 未 到
财务 有 动资金 700,000.00 假期旅游 4.04% 3,796.49 3,796.49 是 是 无
11 月 13 日 11 月 12 日 资金 结息 期
限责 任 贷款 有限公司
公司 （子公司）
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2017 年年度报告
其他情况
□适用 √不适用
(3).委托贷款减值准备
□适用 √不适用
3、 其他情况
□适用 √不适用
(四) 其他重大合同
□适用 √不适用
十六、其他重大事项的说明
□适用 √不适用
十七、积极履行社会责任的工作情况
(一) 上市公司扶贫工作情况
□适用 √不适用
(二) 社会责任工作情况
√适用 □不适用
公司积极履行社会责任，坚持深化责任意识，健全责任机制，在诚信经营、消费者权益保护、
关爱员工、安全生产以及投资者关系等方面稳步推进，并取得一定成效。
诚信经营
公司在经营理念上始终坚持“责任、诚信”的价值取向，引导员工积极参与上海旅游文化都
市建设，并形成特色。对内，公司坚持以企业文化建设为中心，积极开展员工教育，牢牢把握正
确的舆论导向，把高举旗帜、弘扬主流作为舆论导向之重，努力克服因全球旅游环境低迷所造成
的不良影响，重振士气的关键所在，把凝聚人心、缓解矛盾作为当前经营管理工作的重中之重。
对外，公司以“提升服务质量、形成服务特色”为抓手，通过下属旅行社数十年积累的品牌底蕴
和优势，深入挖掘本地文化精粹，并与企业所在的旅游行业相结合，通过全面专业的导游人员技
能培训，将其充分融入企业的地接服务中，以“孜孜以求、精益求精”的海派服务特色，向来自
于全球、全国的游客树立上海良好的对外形象，展示上海旅游行业从业者专注、专业的职业精神。
下属旅行社于 2017 年度荣获由上海市“企业诚信创建”活动组委会及上海市旅游行业协会授
予的上海市“五星级诚信创建企业”称号，同年荣登诚信企业推荐榜。
消费者权益保护
企业在质量管理方面持续保持以顾客为关注焦点，严格旅游服务质量的控制，严格导游领队
及从业人员的质量培训和管理，关注顾客需求和期望，关注顾客抱怨和投诉，持续改进旅游产品
质量和服务质量。多年来，公司的质量管理体系运行和旅游服务质量保持正常有效控制。
公司通过发放《顾客满意度调查表》和电话回访的方式及时掌握旅游服务质量，对于发现的
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质量问题及时采取纠正措施，不断提高游客满意度。
关爱员工
公司一贯倡导“关爱员工、成就企业“的理念，公司在整合下属旅行社业务和资源的同时，
多次以调研、会议、组织生活会等方式，先后开展了近百场的谈话谈心活动，把思想工作做到每
名党员、每名干部、员工，并带动群众，在公司上下营造充分理解改革意义、全力支持改革调整
的整体氛围。公司每年认真开展相关的员工福利管理工作，包括组织安排年度员工体检、带薪假
期的实施，以及按时发放公司规定的福利。如防暑降温费的发放等。公司深知员工是企业发展的
核心竞争力，每年坚持“送温暖、送清凉”两次季节性慰问，做好五一、国庆、春节三节慰问，
平时要定期探访困难群众，对困难职工的帮扶工作做到常态化，实实在在为困难职工排忧解难。
安全生产制度
公司稳妥落实集团“七个到位”的要求，坚持以“安全第一、预防为主；全员动手，综合治
理”安全经营理念，明确安全生产工作职责，履行安全生产制度，注重安全隐患整治，推进安全
生产标准化建设。为了更好协助下属旅行社整合到位，做好各项安全工作，确保生产经营“不断、
不乱、不散”，公司成立了安全生产管理委员会、信访稳定与舆情管控工作小组以及安全生产工作
小组。公司及下属企业不断强化导游领队、餐饮人员、物业管理人员等一线员工的安全意识，不
定期组织相关从业人员进行安全培训和演练，同时对这些人员进行安全考核，对不合格的人员不
予上岗。此外，公司结合旅行社特点，加强对旅行关键环节行前、行中、行后的全过程管控，着
重在交通、餐饮、住宿、游览等环节的应急预防，确保游客生命、财产、饮食、出行安全，加强
对重点场所和安全隐患的预防，确保从源头进行防范。
投资者关系
公司注重与股东及投资者的沟通交流，积极参与上海上市公司协会、上证所信息网络有限公
司共同举办的“2017 年上海辖区上市公司投资者集体接待日”活动，并做好日常的投资者电话接
待。公司始终坚持股东价值最大化的目标，坚持每年稳定的现金分红，确实持保护广大股东的利
益。
(三) 环境信息情况
1. 属于环境保护部门公布的重点排污单位的公司及其重要子公司的环保情况说明
□适用 √不适用
2. 重点排污单位之外的公司
√适用 □不适用
公司所处的行业为旅游行业，公司在经营上积极践行环境保护的理念，倡导游客文明出行；
公司在管理上引用协同办公平台 OA 系统，实现了重大事项审批、文件传阅、费用报销无纸化运
行。公司不存在其他重大环保或其他重大社会安全问题。
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3. 其他说明
□适用 √不适用
(四) 其他说明
□适用 √不适用
十八、可转换公司债券情况
(一) 转债发行情况
□适用 √不适用
(二) 报告期转债持有人及担保人情况
□适用 √不适用
(三) 报告期转债变动情况
□适用 √不适用
报告期转债累计转股情况
□适用 √不适用
(四) 转股价格历次调整情况
□适用 √不适用
(五) 公司的负债情况、资信变化情况及在未来年度还债的现金安排
□适用 √不适用
(六) 转债其他情况说明
□适用 √不适用
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第六节 普通股股份变动及股东情况
一、 普通股股本变动情况
(一) 普通股股份变动情况表
1、 普通股股份变动情况表
报告期内，公司普通股股份总数及股本结构未发生变化。
2、 普通股股份变动情况说明
□适用 √不适用
3、 普通股股份变动对最近一年和最近一期每股收益、每股净资产等财务指标的影响（如有）
□适用 √不适用
4、 公司认为必要或证券监管机构要求披露的其他内容
□适用 √不适用
(二) 限售股份变动情况
□适用 √不适用
二、 证券发行与上市情况
(一)截至报告期内证券发行情况
□适用 √不适用
截至报告期内证券发行情况的说明（存续期内利率不同的债券，请分别说明）：
□适用 √不适用
(二)公司普通股股份总数及股东结构变动及公司资产和负债结构的变动情况
□适用 √不适用
(三)现存的内部职工股情况
□适用 √不适用
三、 股东和实际控制人情况
(一) 股东总数
截止报告期末普通股股东总数(户) 13,634
年度报告披露日前上一月末的普通股股东总数 13,500
(户)
(二) 截止报告期末前十名股东、前十名流通股东（或无限售条件股东）持股情况表
单位:股
前十名股东持股情况
质押或冻结
持有有限售
股东名称 报告期 期末持股数 比例 情况 股东
条件股份数
（全称） 内增减 量 (%) 股份 数 性质
量
状态 量
上海锦江国际酒店（集团） 0 66,556,270 50.21 66,556,270 0 国有法
无
股份有限公司 人
VANGUARD EMERGING 0 1,764,490 1.33 0 境外法
未知
MARKETSSTOCKINDEXFUND 人
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2017 年年度报告
王雪玲 0 1,042,014 0.79 0 境内自
未知
然人
ISHARES CORE MSCI 485,000 901,300 0.68 0 境外法
未知
EMERGINGMARKETSETF 人
VANGUARD TOTAL 0 754,758 0.57 0 境外法
INTERNATIONALSTOCKINDEX 未知 人
FUND
SHENWAN HONGYUAN 153,700 505,200 0.38 0 境外法
未知
NOMINEES(H.K.)LIMITED 人
高俊全 -28,300 504,000 0.38 0 境内自
未知
然人
王文 0 477,509 0.36 0 境内自
未知
然人
黄春辉 0 462,882 0.35 0 境内自
未知
然人
吴卫星 29,000 384,801 0.29 0 境内自
未知
然人
前十名无限售条件股东持股情况
持有无限售条件 股份种类及数量
股东名称
流通股的数量 种类 数量
VANGUARD EMERGING MARKETS STOCK INDEX 1,764,490 1,764,490
境内上市外资股
FUND
王雪玲 1,042,014 境内上市外资股 1,042,014
ISHARES CORE MSCI EMERGING MARKETS 901,300 901,300
境内上市外资股
ETF
VANGUARD TOTAL INTERNATIONAL STOCK 754,758 754,758
境内上市外资股
INDEX FUND
SHENWAN HONGYUAN NOMINEES (H.K.) 505,200 505,200
境内上市外资股
LIMITED
高俊全 504,000 境内上市外资股 504,000
王文 477,509 境内上市外资股 477,509
黄春辉 462,882 境内上市外资股 462,882
吴卫星 384,801 境内上市外资股 384,801
曲辰 372,224 境内上市外资股 372,224
上述股东关联关系或一致行动的说明 1.未知前十名股东之间存在关联关系或一致行动的情
况；
2.未知前十名流通股股东之间存在关联关系或一致行动
的情况；
3.未知前十名流通股股东和前十名股东之间存在关联关
系和一致行动的情况。
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前十名有限售条件股东持股数量及限售条件
√适用 □不适用
单位：股
有限售条件股份可上市交
持有的有限 易情况
序
有限售条件股东名称 售条件股份 新增可上市 限售条件
号 可上市交
数量 交易股份数
易时间
量
1 上海锦江国际酒店（集团）股份有限公司 66,556,270 未上市流通
股份
上述股东关联关系或一致行动的说明
(三) 战略投资者或一般法人因配售新股成为前 10 名股东
□适用 √不适用
四、 控股股东及实际控制人情况
(一) 控股股东情况
1 法人
√适用 □不适用
名称 上海锦江国际酒店（集团）股份有限公司
单位负责人或法定代表人 俞敏亮
成立日期 1995 年 6 月 16 日
主要经营业务 酒店管理、酒店投资、企业投资管理，国内贸易，自有办公
楼、公寓租赁、泊车、培训及相关项目的咨询；以下限分支
机构经营：酒店经营、餐饮、附设卖品部（含烟、酒零售）、
西饼屋、咖啡馆、酒吧、雪茄吧、音乐茶座、水疗按摩、美
容美发、游艺室、健身房、游泳馆、停车场库经营、物业管
理（涉及行政许可的凭许可证经营）。
报告期内控股和参股的其他境内外 截止报告期末，持有境内上市公司锦江股份（600754）股份
上市公司的股权情况 数量：482,007,225 股，持有境内上市公司锦江投资（600650）
股份数量：212,586,460 股。
2 自然人
□适用 √不适用
3 公司不存在控股股东情况的特别说明
□适用 √不适用
4 报告期内控股股东变更情况索引及日期
□适用 √不适用
5 公司与控股股东之间的产权及控制关系的方框图
√适用 □不适用
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2017 年年度报告
(二) 实际控制人情况
1 法人
√适用 □不适用
名称 上海市国有资产监督管理委员会
主要经营业务 上海市国有资产监督管理会为市政府直属的特设机构。市政
府授权上海市国有资产监督管理委员会代表市政府履行出
资人职责。上海市国有资产监督管理委员会负责监督市属国
有资产。
2 自然人
□适用 √不适用
3 公司不存在实际控制人情况的特别说明
□适用 √不适用
4 报告期内实际控制人变更情况索引及日期
□适用 √不适用
5 公司与实际控制人之间的产权及控制关系的方框图
√适用 □不适用
6 实际控制人通过信托或其他资产管理方式控制公司
□适用 √不适用
(三) 控股股东及实际控制人其他情况介绍
□适用 √不适用
五、 其他持股在百分之十以上的法人股东
□适用 √不适用
六、 股份限制减持情况说明
□适用 √不适用
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2017 年年度报告
第七节 优先股相关情况
□适用 √不适用
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2017 年年度报告
第八节 董事、监事、高级管理人员和员工情况
一、持股变动情况及报酬情况
(一) 现任及报告期内离任董事、监事和高级管理人员持股变动及报酬情况
√适用 □不适用
单位：股
报告期内 是否
年度内 从公司获 在公
增减
性 年 任期起始 任期终止 年初持 年末持 股份增 得的税前 司关
姓名 职务(注) 变动
别 龄 日期 日期 股数 股数 减变动 报酬总额 联方
原因
量 （万元） 获取
报酬
邵晓明 董事长 男 59 2016-5-26 2019-5-25 0 0 0 是
张 谦 副董事长 男 50 2017-8-15 2019-5-25 0 0 0 是
包 磊 副董事长、 男 47 2016-5-26 2019-5-25 0 0 0 62.80
首席执行官
陈 璘 董事 男 43 2016-5-26 2019-5-25 0 0 0 是
尹嫣红 董事 女 49 2017-8-15 2019-5-25 0 0 0 是
张 珏 董事 女 34 2017-8-15 2019-5-25 0 0 0 是
李大沛 独立董事 男 62 2016-5-26 2019-5-25 0 0 0 8.00
顾中宪 独立董事 女 62 2016-5-26 2019-5-25 0 0 0 8.00
张帆 独立董事 女 52 2016-5-26 2019-5-25 0 0 0 8.00
王国兴 监事会主席 男 54 2017-8-15 2019-5-25 0 0 0 是
朱永建 监事 男 49 2016-5-26 2019-5-25 0 0 0 29.25
刘 淦 监事 男 39 2017-8-15 2019-5-25 0 0 0 是
郑 蓓 首席运营官 女 45 2017-8-15 2019-5-25 0 0 0 是
庄 琦 首席财务官 女 53 2016-5-26 2019-5-25 0 0 0 45.66
金 晶 董事会秘书 女 36 2017-8-15 2019-5-25 0 0 0 11.25
合 计 / / / / / 0 0 0 / 172.96 /
注：1、首席运营官郑蓓人事关系转入手续尚在办理中，报告期内未在公司领取薪酬；
2、朱虔、康鸣、庄琦于 2017 年 7 月份卸任公司董事职务；叶明于 2017 年 7 月卸任公司监事
会主席职务；金晶于 2017 年 7 月卸任公司职工监事职务；吴晓国于 2017 年 7 月卸任公司
副总裁职务；张珏于 2017 年 7 月卸任公司董事会秘书职务；
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2017 年年度报告
姓名 主要工作经历
曾任锦海捷亚国际货运有限公司总经理，上海锦江国际实业投资股份有限公司副总裁、
邵晓明 本公司董事长、首席执行官等职。现任公司董事长、上海锦江国际实业投资股份有限
公司董事长等职。
曾任上海建国宾馆营销部总监，上海扬子江万丽大酒店副总经理，上海锦江汤臣大酒
店有限公司总经理，锦江饭店总经理，新锦江大酒店总经理。现任公司副董事长，锦
张 谦
江国际（集团）有限公司副总裁、上海锦江国际酒店（集团）股份有限公司执行董事、
首席执行官。
曾任上海新锦江大酒店总经理助理、副总经理，上海锦江德尔互动有限公司高级副总
包 磊 裁等职，锦江国际商务有限公司和上海锦江国际电子商务有限公司副董事长、首席执
行官。现任公司副董事长、首席执行官。
曾任上海上会会计师事务所项目经理、出资人，德勤华永会计师事务所审计部高级经
理，锦江国际集团金融事业部副总经理，上海锦江国际投资管理有限公司首席财务官，
陈 璘
锦江国际集团计划财务部经理。现任公司董事，上海锦江国际实业投资股份有限公司
首席财务官等职。
曾任华联超市股份有限公司审计部经理、财务部经理，锦江国际计划财务部经理助理、
尹嫣红 副经理。现任公司董事，上海锦江国际酒店（集团）股份有限公司首席财务官、财务
负责人。
曾任上海锦江国际酒店发展股份有限公司证券事务代表，上海锦江国际旅游股份有限
张 珏 公司董事会秘书、规划发展部副总监。现任公司董事，上海锦江国际酒店（集团）股
份有限公司董事会秘书、联席公司秘书。
曾任上海证券交易所投资者教育部总监助理等职。现任公司独立董事，上海世茂股份
李大沛
有限公司独立董事等职。
曾任上海实业医药投资股份有限公司财务总监、监事、审计总监，上海海得控制系统
股份有限公司独立董事，上海永利带业股份有限公司独立董事，常熟风范电力设备股
顾中宪 份有限公司独立董事，上海联明机械股份有限公司独立董事、矩泉光电科技（上海）
股份有限公司独立董事。现任公司独立董事、上海润达医疗科技股份有限公司独立董
事等职。
曾任上海旅游高等专科学校饭店管理系教师。现任公司独立董事，上海旅游高等专科
张 帆
学校（上海师范大学旅游学院）旅游与休闲管理学院教授等职。
曾任上海财经大学财政系讲师、上海锦江国际酒店发展股份有限公司董事会秘书、上
海新亚（集团）有限公司董事会秘书、财务副总监，锦江国际（集团）有限公司财务
副总监、董事会执行委员会秘书长（副总裁）。现任公司监事会主席，锦江国际（集团）
王国兴
有限公司副总裁，上海锦江国际酒店（集团）股份有限公司监事会主席，上海锦江国
际酒店发展股份有限公司监事会主席，上海锦江国际实业投资股份有限公司监事会主
席。
曾任锦江国际（集团）地产事业部财务主管、地产事业部外派财务总监等职。现任公
朱永建
司监事、审计室副主任等职。
曾任上海中旅（集团）有限公司党委副书记、纪委书记。现任公司职工监事，锦江国
际（集团）有限公司团委书记，上海锦江国际旅游股份有限公司党委委员、纪委书记，
刘 淦
上海锦江旅游控股有限公司党委副书记、纪委书记；上海中旅国际旅行社有限公司党
委书记。
曾任上海市中国旅行社欧美部导游、通济隆代表处销售经理、欧美部副经理，上海中
旅国际旅行社有限公司会展及奖励旅游部经理、助理总经理兼会展及奖励旅游部经理、
郑 蓓 副总经理、常务副总经理、总经理。现任上海锦江国际旅游股份有限公司首席运营官、
上海锦江旅游控股有限公司副董事长、首席执行官，上海中旅国际旅行社有限公司董
事长等职。
庄 琦 曾任上海建国宾馆有限公司财务部经理，上海锦江国际酒店发展股份有限公司计划财
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2017 年年度报告
务部副总监等职。现任公司首席财务官，上海中旅国际旅行社有限公司董事等职。
曾任上海国旅国际旅行社有限公司英语导游、欧美接待部副经理、上海国旅国际旅行
金 晶 社有限公司入境游中心副总经理等职。现任公司董事会秘书，规划发展部经理助理等
职。
其它情况说明
√适用 □不适用
公司第八届董事会第十四次会议于 2017 年 7 月 28 日召开，会议审议并通过了《关于调整
公司部分董事的议案》、《关于调整公司部分高级管理人员的议案》，因工作变动原因，朱虔先生、
康鸣先生、庄琦女士不再担任公司董事职务，朱虔先生不再担任公司战略委员会委员职务，康鸣
先生不再担任公司薪酬与考核委员会委员职务。因工作变动原因，吴晓国先生不再担任公司副总
裁职务，张珏女士不再担任公司董事会秘书职务。
公司第八届监事会第六次会议于 2017 年 7 月 28 日召开，会议审议并通过了《关于调整公
司部分监事的议案》，因工作变动原因，公司监事会主席叶明先生、职工监事金晶女士不再担任监
事会监事职务。经公司职代会主席团扩大会议审议，选举刘淦先生为公司监事会职工监事。
公司 2017 年第一次临时股东大会于 2017 年 8 月 15 日召开，会议审议并通过了《关于调整公
司部分董事的议案》、《关于调整公司部分监事的议案》，增补张谦先生、尹嫣红女士、张珏女士为
公司第八届董事会董事，增补王国兴先生为公司第八届监事会监事。公司第八届董事会第十五次
会议审议并通过《关于增补公司第八届董事会副董事长的议案》、《关于聘任公司高级管理人员的
议案》，增补张谦先生为公司第八届董事会副董事长，聘任郑蓓女士为公司首席运营官、金晶女士
为公司董事会秘书。
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(二) 董事、高级管理人员报告期内被授予的股权激励情况
□适用 √不适用
二、现任及报告期内离任董事、监事和高级管理人员的任职情况
(一) 在股东单位任职情况
√适用 □不适用
任职人员姓名 股东单位名称 在股东单位担任的职务 任期起始日期 任期终止日期
王国兴 锦江酒店 监事会主席 2015-09 至今
张 谦 锦江酒店 执行董事、首席执行官 2016-07 至今
尹嫣红 锦江酒店 首席财务官、财务负责人 2016-07 至今
张 珏 锦江酒店 董事会秘书、联席公司秘书 2017-07 至今
在股东单位任职情况的说明
(二) 在其他单位任职情况
√适用 □不适用
任职人员姓名 其他单位名称 在其他单位担任的职务 任期起始日期 任期终止日期
王国兴 锦江国际集团 副总裁 2015-05 至今
王国兴 上海锦江国际酒店发展股份有限公司 监事会主席 2015-09 至今
王国兴 上海锦江国际实业投资股份有限公司 监事会主席 2012-09 至今
邵晓明 锦江国际集团 副总裁 2015-05 至今
邵晓明 上海锦江国际实业投资股份有限公司 董事长 2015-06 至今
邵晓明 锦江国际商务有限公司 副董事长 2012-05 至今
邵晓明 锦海捷亚国际货运有限公司 董事 2005-09 至今
张 谦 锦江国际集团 副总裁 2015-05 至今
包 磊 锦江国际商务有限公司 副董事长 2012-05 至今
陈 璘 上海锦江国际实业投资股份有限公司 首席财务官 2016-08 至今
刘 淦 锦江国际集团 团委书记 2016-09 至今
刘 淦 上海中旅国际旅行社有限公司 党委书记 2016-09 至今
郑 蓓 上海中旅国际旅行社有限公司 董事长 2016-10 至今
庄 琦 上海中旅国际旅行社有限公司 董事 2015-12 至今
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三、董事、监事、高级管理人员报酬情况
√适用 □不适用
董事、监事、高级管理人员报酬的决策程序 公司董事会薪酬与考核委员会、董事会、股东大会审议通过等程序。
董事、监事、高级管理人员报酬确定依据 公司高级管理人员（包括董事会成员）薪酬由公司董事会薪酬与考核委员会审议决定；独立董事的津贴
依据公司 2014 年年度股东大会通过的独立董事津贴标准执行；监事报酬按公司员工岗位工资有关规定执
行。
董事、监事和高级管理人员报酬的实际支付情 公司董事、监事和高级管理人员在公司领取薪酬严格按照公司的相关薪酬制度兑现，公司所披露的报酬
况 情况与实际发放情况相符。公司董事、监事、高级管理人员应付报酬合计为 148.96 万元。
报告期末全体董事、监事和高级管理人员实际 公司董事、监事、高级管理人员实际获得的报酬合计为 172.96 万元。
获得的报酬合计
四、公司董事、监事、高级管理人员变动情况
√适用 □不适用
姓名 担任的职务 变动情形 变动原因
张 谦 副董事长 选举 增补
尹嫣红 董事 选举 增补
张 珏 董事 选举 增补
王国兴 监事会主席 选举 增补
刘 淦 职工监事 选举 增补
郑 蓓 首席运营官 聘任 聘任
金 晶 董事会秘书 聘任 聘任
康 鸣 董事 离任 辞职
朱 虔 董事 离任 工作变动
庄 琦 董事 离任 工作变动
叶 明 监事会主席 离任 工作变动
金 晶 职工监事 离任 工作变动
吴晓国 副总裁 离任 工作变动
张 珏 董事会秘书 离任 工作变动
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五、近三年受证券监管机构处罚的情况说明
□适用 √不适用
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六、母公司和主要子公司的员工情况
(一) 员工情况
母公司在职员工的数量 97
主要子公司在职员工的数量 890
在职员工的数量合计 987
母公司及主要子公司需承担费用的离退休职工人数 611
专业构成
专业构成类别 专业构成人数
生产人员 358
销售人员 470
技术人员 48
财务人员 58
行政人员 53
合计 987
教育程度
教育程度类别 数量（人）
硕士及以上 16
大学本科 344
大学专科 412
高中、中专及以下 215
合计 987
(二) 薪酬政策
√适用 □不适用
公司根据“鼓励创新、效益优先、尊重历史、兼顾公平”的薪酬政策，实行岗位工资和绩效
奖励相结合的薪酬分配办法，以岗定薪，变岗变薪，定期考核。基于“定责、定编、定岗、定员
的原则，岗位工资按岗位等级、员工工作能力及任职年限等确定，绩效奖励与公司业绩及员工个
人贡献等挂钩。公司下属分子公司建立了员工工资增长机制，每年开展工资集体协商工作。
(三) 培训计划
√适用 □不适用
公司结合自身发展需要，打造“学习型企业”，采取内训、外训相结合的培训方式，建立了分
级管理、分级培训的教育培训体系。内部培训包括企业内部组织的各类培训，如新进员工岗前培
训、销售人员、产品开发业务培训等；外部培训包括参加外训机构、行业协会、监管部门等组织
的各类培训，如导游领队业务培训、财务人员继续教育、售后质量管理培训等。
(四) 劳务外包情况
√适用 □不适用
劳务外包的工时总数（小时） 68,742
劳务外包支付的报酬总额（元） 1,408,000
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七、其他
□适用 √不适用
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第九节 公司治理
一、公司治理相关情况说明
√适用 □不适用
报告期内，公司继续按照《公司法》、《证券法》、《上市公司治理准则》等有关法律法规的要
求规范运作，公司的运作和管理符合中国证监会有关上市公司治理规范性文件的要求。
1. 关于股东和股东大会
公司认真做好股东来访、来信和来电的咨询、接待工作，依据《投资者接待管理制度》、《投
资者关系工作的电子通讯系统管理制度》、《投资者关系工作条例》不断加强投资者关系管理工作，
进一步完善了与股东之间的沟通平台；报告期内，公司召开一次股东大会，会议召开严格按照《股
东大会规范意见》的要求、公司《股东大会议事规则》以及《公司章程》的要求履行相应的召集、
召开、表决程序，平等对待所有股东，保证每位股东参加会议并充分行使咨询权和表决权，股东
大会经律师现场见证并对其合法性出具法律意见书。
2. 关于控股股东与上市公司
公司与控股股东在业务、人员、资产、机构和财务等方面严格实行“五分开”，各自独立核
算，独立承担责任和风险。报告期内，公司不存在控股股东非经营性占用公司资金行为。
3. 关于董事与董事会
公司严格按照《公司法》、《公司章程》的规定程序选举董事；公司董事会人数和人员构成符
合法律、法规的要求，公司各位董事能够依据《董事会议事规则》等制度，认真出席董事会会议，
履行了诚信和勤勉的职责。现届董事会有独立董事 3 位，审计委员会、薪酬与考核委员会的主任
委员由独立董事担任。
4. 关于监事和监事会
公司监事会能够依据《监事会议事规则》等制度，定期召开监事会会议，并以认真负责的态
度列席董事会会议，履行对董事、高级管理人员的履职情况及公司财务的监督与检查责任，并发
表独立意见。现届监事会有职工监事 1 位。
5. 关于信息披露和透明度
公司依据《信息披露事务管理制度》等制度，明确了信息披露程序和相关人员的职责，进一
步完善了信息披露管理工作。公司严格按照有关规定，真实、准确、完整、及时、公平地披露信
息，切实履行作为上市公司的信息披露义务，积极维护公司和投资者的合法权益。
公司按照证券监管部门新出台的法规和规范性文件要求，制订了《公司年报信息披露重大差错责
任追究制度》、《公司内部控制检查监督制度》，进一步完善公司治理制度。
为规范公司内幕信息知情人和外部信息使用人的管理，根据相关监管要求，公司制定了《内
幕信息知情人和外部信息使用人管理制度》，进一步加强了对内幕信息知情人和外部信息使用人的
登记备案。报告期内，公司不存在内幕信息知情人在影响公司股价的重大敏感信息披露前利用内
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幕信息买卖公司股份的情况。
6. 关于公司治理专项活动情况
根据中国证监会《关于开展加强上市公司治理专项活动有关事项的通知》和上海证监局《关
于开展上海辖区上市公司治理专项活动的通知》要求，公司深入开展了上市公司治理活动。公司
将严格按照有关文件要求，继续认真做好公司治理专项活动工作，使公司能够在规范运作的前提
下健康持续地发展。
公司治理与中国证监会相关规定的要求是否存在重大差异；如有重大差异，应当说明原因
□适用 √不适用
二、股东大会情况简介
决议刊登的指定网站的
会议届次 召开日期 决议刊登的披露日期
查询索引
第三十二次股东大会 2017 年 6 月 8 日 http://www.sse.com.cn 2017 年 6 月 9 日
（2016 年度股东大会）
第三十三次股东大会 2017 年 8 月 15 日 http://www.sse.com.cn 2017 年 8 月 16 日
(2017 年第一次临时股东
大会)
股东大会情况说明
□适用 √不适用
三、董事履行职责情况
(一) 董事参加董事会和股东大会的情况
参加股东
参加董事会情况
大会情况
董事 是否独
本年应参 以通讯 是否连续两 出席股东
姓名 立董事 亲自出 委托出 缺席
加董事会 方式参 次未亲自参 大会的次
席次数 席次数 次数
次数 加次数 加会议 数
邵晓明 否 12 3 9 0 0 否 2
张 谦 否 4 2 2 0 0 否 1
包 磊 否 12 3 9 0 0 否 2
尹嫣红 否 4 2 2 0 0 否 1
陈 璘 否 12 3 9 0 0 否 1
张 珏 否 4 2 2 0 0 否 1
李大沛 是 12 3 9 0 0 否 2
顾中宪 是 12 3 9 0 0 否 1
张 帆 是 12 3 9 0 0 否 2
康 鸣 否 8 1 7 0 0 否 1
朱 虔 否 8 1 7 0 0 否 1
庄 琦 否 8 1 7 0 0 否 1
连续两次未亲自出席董事会会议的说明
□适用 √不适用
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年内召开董事会会议次数 12
其中：现场会议次数 3
通讯方式召开会议次数 9
现场结合通讯方式召开会议次数 0
(二) 独立董事对公司有关事项提出异议的情况
□适用 √不适用
(三) 其他
□适用 √不适用
四、董事会下设专门委员会在报告期内履行职责时所提出的重要意见和建议，存在异议事项的，
应当披露具体情况
√适用 □不适用
报告期内，公司共召开 3 次审计委员会会议、1 次薪酬与考核委员会会议。作为董事会专门
工作机构，各专门委员会为年报审计、内控体系建设、选聘审计机构、审核高管薪酬等方面提供
了重要的咨询意见和建议。
五、监事会发现公司存在风险的说明
□适用 √不适用
六、公司就其与控股股东在业务、人员、资产、机构、财务等方面存在的不能保证独立性、不能
保持自主经营能力的情况说明
□适用 √不适用
存在同业竞争的，公司相应的解决措施、工作进度及后续工作计划
□适用 √不适用
七、报告期内对高级管理人员的考评机制，以及激励机制的建立、实施情况
√适用 □不适用
公司结合年度财务状况、经营成果、安全生产及服务质量等目标的完成情况对高级管理人员
进行绩效考核分配。公司董事会下设薪酬与考核委员会，按照有关法律法规，对报告期内高级管
理人员的薪酬情况进行认真审核。公司将按照市场化取向，不断完善高级管理人员的考评和激励
机制，以促进高级管理人员勤勉尽责，提高公司治理水平，实现股东利益和公司利益最大化。
八、是否披露内部控制自我评价报告
√适用 □不适用
报告期内部控制存在重大缺陷情况的说明
□适用 √不适用
九、内部控制审计报告的相关情况说明
√适用 □不适用
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公司聘请德勤华永会计师事务所（特殊普通合伙）对公司内部控制有效性进行独立审计，并
出具了标准无保留意见。内部控制审计报告将于 2018 年 3 月 29 日在上交所网站（www.sse.com.cn）
披露。
是否披露内部控制审计报告：是
十、其他
□适用 √不适用
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第十节 公司债券相关情况
□适用 √不适用
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第十一节 财务报告
一、 审计报告（附后）
二、 财务报表 （附后）
三、 财务报表附注（附后）
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第十二节 备查文件目录
一、载有法定代表人、主管会计工作负责人、会计机构负责人签名并盖
备查文件目录
章的财务报表
备查文件目录 二、载有会计师事务所盖章、注册会计师签名并盖章的审计报告原件
三、报告期内在中国证监会所指定报纸上公开披露过的所有公司文件的
备查文件目录
正本及公告的原稿
董事长：邵晓明
上海锦江国际旅游股份有限公司
董事会批准报送日期：2018 年 3 月 27 日
修订信息
□适用 √不适用
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上海锦江国际旅游股份有限公司
财务报表及审计报告
2017 年 12 月 31 日止年度
上海锦江国际旅游股份有限公司
财务报表及审计报告
2017 年 12 月 31 日止年度
内容 页码
审计报告 1-4
合并及母公司资产负债表 5-6
合并及母公司利润表 7-8
合并及母公司现金流量表 9 - 10
合并及母公司股东权益变动表 11 - 12
财务报表附注 13 - 81
审计报告
德师报(审)字(18)第 P01960 号
(第1页，共4页)
上海锦江国际旅游股份有限公司全体股东：
一、审计意见
我们审计了上海锦江国际旅游股份有限公司(以下简称“贵公司”)的财务报表，包括2017年12 月31日的合并及母
公司资产负债表，2017年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公司股东权益变动表以
及相关财务报表附注。
我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公允反映了贵公司2017年12月31日的
合并及母公司财务状况以及2017年度的合并及母公司经营成果和合并及母公司现金流量。
二、形成审计意见的基础
我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的“注册会计师对财务报表审计的责任”部
分进一步阐述了我们在这些准则下的责任。按照中国注册会计师职业道德守则，我们独立于贵公司，并履行了职
业道德方面的其他责任。我们相信，我们获取的审计证据是充分、适当的，为发表审计意见提供了基础。
三、关键审计事项
关键审计事项是我们根据职业判断，认为对本期财务报表审计最为重要的事项。这些事项的应对以对财务报表整
体进行审计并形成审计意见为背景，我们不对这些事项单独发表意见。我们确定下列事项是需要在审计报告中沟
通的关键审计事项。
出境游、国内游收入和成本截止认定
事项描述
贵公司的旅游相关收入来源于旅行团业务(含出境游、国内游、入境游)、票务及其它零星业务。如财务报表附注
(六)27所述，2017年营业 收入人民 币1,710,185,432.74元。其中， 出境游、 国内游旅 行团业务收 入人 民币
959,565,146.62元，占比56.11%。
按照贵公司政策，出境游、国内游旅行团业务均在团队行程结束、所有服务都已完成时，确认收入并结转成本。
由于贵公司出境游、国内游旅行团业务销售量巨大，收入是否计入恰当的会计期间存在潜在风险，因此，我们将
出境游、国内游旅行团业务的收入和成本截止认定判断为关键审计事项。
第1页
审计报告(续)
德师报(审)字(18)第 P01960 号
(第2页，共4页)
三、关键审计事项 - 续
审计应对
针对与出境游、国内游旅行团业务收入和成本截止相关的重大错报风险，我们执行的程序有：
1、测试和评价与出境游、国内游旅行团业务收入和成本截止相关的关键内部控制的设计、执行和运行有效性；
2、就当年12月财务系统确认的出境游、国内游旅行团收入和成本金额与业务系统中相应旅行团记录的加计金额
进行核对，并逐笔核对业务系统中记录的旅行团回团日期，是否均在当年12月31日及之前；以回团日期在当年12
月31日及之前的出境游、国内游旅行团作为样本总体进行抽样检查，核对至业务系统中录入的日期信息，并与销
售合同、旅行团行程信息等支持性文件中的日期信息进行核对，检查日期等关键信息是否一致。
3、就次年1月财务系统确认的出境游、国内游旅行团收入和成本金额与业务系统中相应旅行团记录的加计金额进
行核对，并逐笔核对业务系统中记录的旅行团回团日期，是否均在当年12月31日之后；以回团日期在当年12月31
日之后的出境游、国内游旅行团作为样本总体进行抽样检查，核对至业务系统中录入的日期信息，并与销售合同、
旅行团行程信息等支持性文件中的日期信息进行核对，检查日期等关键信息是否一致。
与可抵扣亏损相关的递延所得税资产
事项描述
如财务报表附注(六)15所述，截至2017年12月31日止，贵公司合并资产负债表中递延所得税资产的余额为人民币
15,098,051.41元，系与贵公司之子公司上海锦江旅游控股有限公司可抵扣亏损相关。在确认与可抵扣亏损相关的
递延所得税资产时，管理层根据未来期间的财务预测，以很可能获得用来抵扣可抵扣亏损的未来应纳税所得额为
限，确认相关的递延所得税资产。评估递延所得税资产能否在未来期间得以实现需要管理层作出重大判断，并且
管理层的估计和假设具有不确定性。
审计应对
针对与可抵扣亏损相关的递延所得税资产相关的重大错报风险，我们执行的程序有：
1、测试与编制财务预测、递延所得税资产会计处理相关的关键内部控制的设计、执行和运行有效性；
2、获取了与可抵扣亏损相关的所得税汇算清缴资料，复核可抵扣亏损金额的准确性；
3、复核管理层编制的财务预测，评估其编制是否符合行业及自身情况，通过复核预测期间的收入、毛利等关键
假设，验证管理层计算的未来期间很可能取得用来抵扣可抵扣亏损的应纳税所得额是否准确，比对财务预测是否
与经批准的财务预算相一致，并对其合理性进行了评估；
4、复核可抵扣亏损应确认的递延所得税资产相关会计处理的准确性。
第2页
审计报告(续)
德师报(审)字(18)第 P01960 号
(第3页，共4页)
四、其他信息
贵公司管理层对其他信息负责。其他信息包括上海锦江国际旅游股份有限公司2017年年度报告中涵盖的信息，但
不包括财务报表和我们的审计报告。
我们对财务报表发表的审计意见不涵盖其他信息，我们也不对其他信息发表任何形式的鉴证结论。
结合我们对财务报表的审计，我们的责任是阅读其他信息，在此过程中，考虑其他信息是否与财务报表或我们在
审计过程中了解到的情况存在重大不一致或者似乎存在重大错报。
基于我们已执行的工作，如果我们确定其他信息存在重大错报，我们应当报告该事实。在这方面，我们无任何事
项需要报告。
五、管理层和治理层对财务报表的责任
贵公司管理层负责按照企业会计准则的规定编制财务报表，使其实现公允反映，并设计、执行和维护必要的内部
控制，以使财务报表不存在由于舞弊或错误导致的重大错报。
在编制财务报表时，管理层负责评估贵公司的持续经营能力，披露与持续经营相关的事项(如适用)，并运用持续
经营假设，除非管理层计划清算贵公司、终止运营或别无其他现实的选择。
治理层负责监督贵公司的财务报告过程。
六、注册会计师对财务报表审计的责任
我们的目标是对财务报表整体是否不存在由于舞弊或错误导致的重大错报获取合理保证，并出具包含审计意见
的审计报告。合理保证是高水平的保证，但并不能保证按照审计准则执行的审计在某一重大错报存在时总能发
现。错报可能由于舞弊或错误导致，如果合理预期错报单独或汇总起来可能影响财务报表使用者依据财务报表作
出的经济决策，则通常认为错报是重大的。
在按照审计准则执行审计工作的过程中，我们运用职业判断，并保持职业怀疑。同时，我们也执行以下工作：
(1)识别和评估由于舞弊或错误导致的财务报表重大错报风险，设计和实施审计程序以应对这些风险，并获取充
分、适当的审计证据，作为发表审计意见的基础。由于舞弊可能涉及串通、伪造、故意遗漏、虚假陈述或凌驾于
内部控制之上，未能发现由于舞弊导致的重大错报的风险高于未能发现由于错误导致的重大错报的风险。
(2)了解与审计相关的内部控制，以设计恰当的审计程序。
(3)评价管理层选用会计政策的恰当性和作出会计估计及相关披露的合理性。
第3页
审计报告(续)
德师报(审)字(18)第P01960号
(第4页，共4页)
六、注册会计师对财务报表审计的责任 - 续
(4)对管理层使用持续经营假设的恰当性得出结论。同时，根据获取的审计证据，就可能导致贵公司持续经营能
力产生重大疑虑的事项或情况是否存在重大不确定性得出结论。如果我们得出结论认为存在重大不确定性，审计
准则要求我们在审计报告中提请报表使用者注意财务报表中的相关披露；如果披露不充分，我们应当发表非无保
留意见。我们的结论基于截至审计报告日可获得的信息。然而，未来的事项或情况可能导致贵公司不能持续经营。
(5)评价财务报表的总体列报、结构和内容(包括披露)，并评价财务报表是否公允反映相关交易和事项。
(6)就贵公司中实体或业务活动的财务信息获取充分、适当的审计证据，以对财务报表发表审计意见。我们负责
指导、监督和执行集团审计，并对审计意见承担全部责任。
我们与治理层就计划的审计范围、时间安排和重大审计发现等事项进行沟通，包括沟通我们在审计中识别出的值
得关注的内部控制缺陷。
我们还就已遵守与独立性相关的职业道德要求向治理层提供声明，并与治理层沟通可能被合理认为影响我们独
立性的所有关系和其他事项，以及相关的防范措施(如适用)。
从与治理层沟通过的事项中，我们确定哪些事项对本期财务报表审计最为重要，因而构成关键审计事项。我们在
审计报告中描述这些事项，除非法律法规禁止公开披露这些事项，或在极少数情形下，如果合理预期在审计报告
中沟通某事项造成的负面后果超过在公众利益方面产生的益处，我们确定不应在审计报告中沟通该事项。
德勤华永会计师事务所(特殊普通合伙) 中国注册会计师：
中国上海 (项目合伙人)
中国注册会计师：
2018 年 3 月 27 日
第4页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日
合并资产负债表
人民币元
项目 附注 2017 年 12 月 31 日 2016 年 12 月 31 日 项目 附注 2017 年 12 月 31 日 2016 年 12 月 31 日
流动资产： 流动负债：
货币资金 (六)1 224,173,241.14 485,439,979.21 应付账款 (六)17 76,458,444.24 88,750,224.41
以公允价值计量且
其变动计入当期损 31,071.96 - 预收款项 (六)18 159,904,427.22 172,164,000.43
益的金融资产
应收账款 (六)2 103,142,917.34 79,753,861.76 应付职工薪酬 (六)19 23,945,688.96 26,660,416.08
预付款项 (六)3 38,171,218.47 67,151,363.98 应交税费 (六)20 7,930,915.90 12,047,677.13
其他应收款 (六)4 14,659,151.07 9,902,821.35 其他应付款 (六)21 52,501,741.84 39,794,789.16
存货 (六)5 249,498.02 299,905.28
其他流动资产 (六)6 67,085.49 - 流动负债合计 320,741,218.16 339,417,107.21
流动资产合计 380,494,183.49 642,547,931.58 非流动负债：
非流动资产： 递延所得税负债 (六)15 135,166,077.28 152,093,322.78
可供出售金融资产 (六)7 947,428,678.05 730,483,302.60 非流动负债合计 135,166,077.28 152,093,322.78
长期股权投资 (六)8 65,402,885.09 74,341,692.57 负债合计 455,907,295.44 491,510,429.99
投资性房地产 (六)9 145,480,658.62 138,244,076.60 股东权益：
固定资产 (六)10 39,419,058.07 55,628,500.36 股本 (六)22 132,556,270.00 132,556,270.00
在建工程 (六)11 3,970,272.48 664,910.37 资本公积 (六)23 199,948,957.53 199,948,957.53
无形资产 (六)12 78,750.00 658,375.09 其他综合收益 (六)24 405,493,844.55 456,272,484.16
商誉 (六)13 631,400.11 631,400.11 盈余公积 (六)25 147,798,842.16 147,798,842.16
长期待摊费用 (六)14 2,068,585.24 1,651,639.89 未分配利润 (六)26 261,757,728.85 231,282,050.74
归属于母公司所有者
递延所得税资产 (六)15 15,098,051.41 9,999,729.76 1,147,555,643.09 1,167,858,604.59
权益合计
其他非流动资产 (六)16 2,966,851.80 2,966,851.80 少数股东权益 (423,564.17) (1,550,623.85)
非流动资产合计 1,222,545,190.87 1,015,270,479.15 股东权益合计 1,147,132,078.92 1,166,307,980.74
资产总计 1,603,039,374.36 1,657,818,410.73 负债和股东权益总计 1,603,039,374.36 1,657,818,410.73
附注为财务报表的组成部分
第 5 页至第 81 页的财务报表由下列负责人签署：
法定代表人：_____________ 主管会计工作负责人：_____________ 会计机构负责人：_____________
第5页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日
母公司资产负债表
人民币元
项目 附注 2017 年 12 月 31 日 2016 年 12 月 31 日 项目 附注 2017 年 12 月 31 日 2016 年 12 月 31 日
流动资产： 流动负债：
货币资金 (十五)1 135,876,526.83 360,852,975.47 应付账款 893,426.26 4,734,776.65
以公允价值计量且
其变动计入当期损 31,071.96 - 预收款项 49,203,283.43 61,732,013.93
益的金融资产
应收账款 (十五)2 1,627,460.07 2,052,952.59 应付职工薪酬 8,171,398.18 10,726,040.57
预付款项 374,824.00 616,566.41 应交税费 6,067,144.78 10,816,101.58
其他应收款 (十五)3 4,110,503.35 3,542,269.09 其他应付款 44,651,116.41 34,651,535.14
存货 26,056.19 35,673.62
其他流动资产 2,867,085.49 2,100,000.00 流动负债合计 108,986,369.06 122,660,467.87
流动资产合计 144,913,527.89 369,200,437.18 非流动负债：
非流动资产： 递延所得税负债 135,164,614.85 152,090,828.03
可供出售金融资产 947,428,678.05 730,483,302.60 非流动负债合计 135,164,614.85 152,090,828.03
长期股权投资 (十五)4 118,594,444.53 127,533,252.01 负债合计 244,150,983.91 274,751,295.90
投资性房地产 145,480,658.62 138,244,076.60 股东权益：
固定资产 (十五)5 37,733,150.43 52,504,552.28 股本 (六)22 132,556,270.00 132,556,270.00
在建工程 838,540.94 664,910.37 资本公积 183,076,312.17 183,076,312.17
无形资产 78,750.00 658,375.09 其他综合收益 (六)24 405,493,844.55 456,272,484.16
长期待摊费用 1,935,855.46 1,354,954.47 盈余公积 124,813,366.95 124,813,366.95
其他非流动资产 (十五)6 2,006,851.80 2,006,851.80 未分配利润 308,919,680.14 251,180,983.22
非流动资产合计 1,254,096,929.83 1,053,450,275.22 股东权益合计 1,154,859,473.81 1,147,899,416.50
资产总计 1,399,010,457.72 1,422,650,712.40 负债和股东权益总计 1,399,010,457.72 1,422,650,712.40
附注为财务报表的组成部分
第6页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日止年度
合并利润表
人民币元
项目 附注 2017 年度 2016 年度(已重述)
一、营业收入 (六)27 1,710,185,432.74 1,907,531,142.26
减：营业成本 (六)27 1,576,203,039.49 1,768,005,141.78
税金及附加 (六)28 4,494,367.68 6,869,959.21
销售费用 (六)29 120,286,259.41 124,015,398.85
管理费用 (六)30 53,691,765.16 59,365,288.89
财务费用 (六)31 (4,526,627.12) (4,327,455.23)
资产减值损失(转回) (六)32 (99,195.10) (1,513,121.69)
加：公允价值变动收益 10,627.08 -
投资收益 (六)33 111,852,553.70 110,762,548.90
其中：对联营企业和合营企业的投资收益 6,763,558.52 7,375,865.40
资产处置收益 175,077.50 297,373.88
其他收益 (六)34 2,457,109.41 -
二、营业利润 74,631,190.91 66,175,853.23
加：营业外收入 (六)35 1,849,672.45 7,735,362.13
减：营业外支出 289,939.87 471,859.03
三、利润总额 76,190,923.49 73,439,356.33
减：所得税费用 (六)36 13,835,131.06 12,402,387.23
四、净利润 62,355,792.43 61,036,969.10
(一)按经营持续性分类：
持续经营净利润 62,355,792.43 61,036,969.10
(二)按所有权归属分类：
归属于母公司所有者的净利润 61,228,732.75 61,137,877.20
少数股东损益 1,127,059.68 (100,908.10)
五、其他综合收益的税后净额 (六)24 (50,778,639.61) (131,864,218.76)
归属母公司所有者的其他综合收益的税后净额 (50,778,639.61) (131,864,218.76)
(一)以后不能重分类进损益的其他综合收益 - -
(二)以后将重分类进损益的其他综合收益-可供出
(50,778,639.61) (131,864,218.76)
售金融资产公允价值变动损益
归属于少数股东的其他综合收益的税后净额 - -
六、综合收益总额 11,577,152.82 (70,827,249.66)
归属于母公司所有者的综合收益总额 10,450,093.14 (70,726,341.56)
归属于少数股东的综合收益总额 1,127,059.68 (100,908.10)
七、每股收益：
(一)基本每股收益 0.4619 0.4612
(二)稀释每股收益 不适用 不适用
附注为财务报表的组成部分
第7页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日止年度
母公司利润表
人民币元
项目 附注 2017 年度 2016 年度(已重述)
一、营业收入 (十五)7 341,190,245.73 428,938,697.47
减：营业成本 (十五)7 318,690,540.70 409,294,153.85
税金及附加 2,893,776.59 3,579,473.31
销售费用 8,034,819.60 11,340,264.19
管理费用 (十五)8 24,344,153.72 24,466,854.95
财务费用 (6,460,323.67) (7,314,612.87)
加：公允价值变动收益 10,627.08 -
投资收益 (十五)9 111,933,921.28 111,256,027.25
其中：对联营企业和合营企业的投资收益 6,763,558.52 7,375,865.40
资产处置收益 175,077.50 159,422.00
二、营业利润 105,806,904.65 98,988,013.29
加：营业外收入 (十五)10 1,835,714.36 1,792,713.53
减：营业外支出 234,922.10 33,346.64
三、利润总额 107,407,696.91 100,747,380.18
减：所得税费用 18,915,945.35 17,153,050.00
四、净利润 88,491,751.56 83,594,330.18
其中：持续经营净利润 88,491,751.56 83,594,330.18
五、其他综合收益 (50,778,639.61) (131,864,218.76)
(一)以后不能重分类进损益的其他综合收益 - -
(二)以后将重分类进损益的其他综合收益-可供出
(50,778,639.61) (131,864,218.76)
售金融资产公允价值变动损益
六、综合收益总额 37,713,111.95 (48,269,888.58)
附注为财务报表的组成部分
第8页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日止年度
合并现金流量表
人民币元
项目 附注 2017 年度 2016 年度
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 1,694,417,956.72 1,920,414,826.97
收到其他与经营活动有关的现金 (六)37(1) 41,946,689.56 20,743,454.22
经营活动现金流入小计 1,736,364,646.28 1,941,158,281.19
购买商品、接受劳务支付的现金 1,577,381,394.07 1,782,170,516.22
支付给职工以及为职工支付的现金 142,256,827.05 151,040,912.23
支付的各项税费 35,659,360.77 30,327,572.70
支付其他与经营活动有关的现金 (六)37(2) 34,503,882.38 42,421,646.77
经营活动现金流出小计 1,789,801,464.27 2,005,960,647.92
经营活动产生的现金流量净额 (53,436,817.99) (64,802,366.73)
二、投资活动产生的现金流量：
收回投资收到的现金 358,861,357.93 246,165,474.45
取得投资收益收到的现金 27,837,261.95 31,115,186.96
处置固定资产、无形资产和其他长期资产收回的现金
174,980.00 295,149.88
净额
投资活动现金流入小计 386,873,599.88 277,575,811.29
购建固定资产、无形资产和其他长期资产支付的现金 5,555,960.24 643,127.63
投资支付的现金 300,577,931.82 250,000,000.00
投资活动现金流出小计 306,133,892.06 250,643,127.63
投资活动产生的现金流量净额 80,739,707.82 26,932,683.66
三、筹资活动产生的现金流量：
分配股利、利润或偿付利息支付的现金 30,753,054.64 30,487,942.10
其中：子公司支付给少数股东的股利、利润 - -
筹资活动现金流出小计 30,753,054.64 30,487,942.10
筹资活动产生的现金流量净额 (30,753,054.64) (30,487,942.10)
四、汇率变动对现金及现金等价物的影响 (575,199.66) -
五、现金及现金等价物净增加(减少)额 (4,025,364.47) (68,357,625.17)
加：年初现金及现金等价物余额 (六)38(2) 216,596,205.61 284,953,830.78
六、年末现金及现金等价物余额 (六)38(2) 212,570,841.14 216,596,205.61
附注为财务报表的组成部分
第9页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日止年度
母公司现金流量表
人民币元
项目 附注 2017 年度 2016 年度
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 335,276,886.07 422,525,878.63
收到其他与经营活动有关的现金 (十五)11(1) 40,359,524.69 12,548,917.32
经营活动现金流入小计 375,636,410.76 435,074,795.95
购买商品、接受劳务支付的现金 332,171,146.67 409,030,436.85
支付给职工以及为职工支付的现金 19,503,401.88 25,833,199.95
支付的各项税费 31,673,214.13 21,207,392.11
支付其他与经营活动有关的现金 (十五)11(2) 4,835,367.88 82,221,710.56
经营活动现金流出小计 388,183,130.56 538,292,739.47
经营活动产生的现金流量净额 (12,546,719.80) (103,217,943.52)
二、投资活动产生的现金流量：
收回投资收到的现金 332,461,357.93 247,565,474.45
取得投资收益收到的现金 27,918,629.53 31,608,665.31
处置固定资产、无形资产和其他长期资产收回的现金
12,206.50 161,668.00
净额
投资活动现金流入小计 360,392,193.96 279,335,807.76
购建固定资产、无形资产和其他长期资产支付的现金 3,063,339.56 430,983.81
投资支付的现金 304,877,931.82 222,100,000.00
投资活动现金流出小计 307,941,271.38 222,530,983.81
投资活动产生的现金流量净额 52,450,922.58 56,804,823.95
三、筹资活动产生的现金流量：
分配股利、利润或偿付利息支付的现金 30,753,054.64 30,487,942.10
筹资活动现金流出小计 30,753,054.64 30,487,942.10
筹资活动产生的现金流量净额 (30,753,054.64) (30,487,942.10)
四、汇率变动对现金及现金等价物的影响 (27,596.78) -
五、现金及现金等价物净增加(减少)额 9,123,551.36 (76,901,061.67)
加：年初现金及现金等价物余额 (十五)12(2) 126,052,975.47 202,954,037.14
六、年末现金及现金等价物余额 (十五)12(2) 135,176,526.83 126,052,975.47
附注为财务报表的组成部分
第 10 页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日止年度
合并股东权益变动表
人民币元
2017 年度 2016 年度
项目 归属于母公司所有者权益 归属于母公司所有者权益
少数股东 少数股东
股东权益合计 股东权益合计
股本 资本公积 其他综合收益 盈余公积 未分配利润 权益 股本 资本公积 其他综合收益 盈余公积 未分配利润 权益
一、本年年初余额 132,556,270.00 199,948,957.53 456,272,484.16 147,798,842.16 231,282,050.74 (1,550,623.85) 1,166,307,980.74 132,556,270.00 199,948,957.53 588,136,702.92 147,798,842.16 200,632,115.64 (1,449,715.75) 1,267,623,172.50
二、本年增减变动
- - (50,778,639.61) - 30,475,678.11 1,127,059.68 (19,175,901.82) - - (131,864,218.76) - 30,649,935.10 (100,908.10) (101,315,191.76)
金额
(一 )综合 收益 总
- - (50,778,639.61) - 61,228,732.75 1,127,059.68 11,577,152.82 - - (131,864,218.76) - 61,137,877.20 (100,908.10) (70,827,249.66)
额
(二 )所有 者投 入
- - - - - - - - - - - - - -
和减少资本
1. 所 有 者 投 入 资
- - - - - - - - - - - - - -
本
2. 非 同 一 控 制 下
- - - - - - - - - - - - - -
企业合并
(三)利润分配 - - - - (30,753,054.64) - (30,753,054.64) - - - - (30,487,942.10) - (30,487,942.10)
1．提取盈余公积 - - - - - - - - - - - - - -
2．对股东的分配 - - - - (30,753,054.64) - (30,753,054.64) - - - - (30,487,942.10) - (30,487,942.10)
三、本年年末余额 132,556,270.00 199,948,957.53 405,493,844.55 147,798,842.16 261,757,728.85 (423,564.17) 1,147,132,078.92 132,556,270.00 199,948,957.53 456,272,484.16 147,798,842.16 231,282,050.74 (1,550,623.85) 1,166,307,980.74
附注为财务报表的组成部分
第 11 页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日止年度
母公司股东权益变动表
人民币元
2017 年度 2016 年度
项目
股本 资本公积 其他综合收益 盈余公积 未分配利润 股东权益合计 股本 资本公积 其他综合收益 盈余公积 未分配利润 股东权益合计
一、本年年初余额 132,556,270.00 183,076,312.17 456,272,484.16 124,813,366.95 251,180,983.22 1,147,899,416.50 132,556,270.00 183,076,312.17 588,136,702.92 124,813,366.95 198,074,595.14 1,226,657,247.18
二、本年增减变动金额 - - (50,778,639.61) - 57,738,696.92 6,960,057.31 - - (131,864,218.76) - 53,106,388.08 (78,757,830.68)
(一)综合收益总额 - - (50,778,639.61) - 88,491,751.56 37,713,111.95 - - (131,864,218.76) - 83,594,330.18 (48,269,888.58)
(二)利润分配 - - - - (30,753,054.64) (30,753,054.64) - - - - (30,487,942.10) (30,487,942.10)
1．提取盈余公积 - - - - - - - - - - - -
2．对股东的分配 - - - - (30,753,054.64) (30,753,054.64) - - - - (30,487,942.10) (30,487,942.10)
三、本年年末余额 132,556,270.00 183,076,312.17 405,493,844.55 124,813,366.95 308,919,680.14 1,154,859,473.81 132,556,270.00 183,076,312.17 456,272,484.16 124,813,366.95 251,180,983.22 1,147,899,416.50
附注为财务报表的组成部分
第 12 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(一) 公司基本情况
上海锦江国际旅游股份有限公司(以下简称“本公司”)是由原上海中国国际旅行社集团作为主发起人，于
1994 年 8 月改制设立的股份有限公司，主发起人以净资产投入公司，折为国有法人股 6,050 万股，注册
地址为：上海市延安东路 100 号联谊大厦 27 楼，总部位于上海。本公司于 1994 年 9 月 28 日公司在上海
证券交易所上市，发行 B 股 6,000 万股；于 1998 年 6 月 8 日，本公司向全体股东以每 10 股派送 1 股红
股，送股后，公司总股本为 13,256 万股。
于 2011 年 2 月 14 日，锦江国际(集团)有限公司(以下简称“锦江国际”)将其持有的本公司 66,556,270 股国
有法人股(占本公司总股本的 50.21%)转让给上海锦江国际酒店(集团)股份有限公司(以下简称“锦江酒店
集团”)。转让后，锦江酒店集团成为本公司的母公司。锦江国际成为本公司的最终控股公司。
本公司股本详细情况参见附注(六)22。
本公司及其子公司(以下简称“本集团”)主要从事组织海外游客入境旅游，中国公民国内旅游和出境旅游，
交通票务代理以及物业出租，贸易等。
本集团的合并及母公司财务报表于 2018 年 3 月 27 日已经本公司董事会批准。
本年度合并财务报表范围参见附注(七)“在其他主体中的权益”。
(二) 财务报表的编制基础
编制基础
本集团执行财政部颁布的企业会计准则及相关规定。此外，本集团还按照《公开发行证券的公司信息披
露编报规则第 15 号—财务报告的一般规定(2014 年修订)》披露有关财务信息。
记账基础和计价原则
本集团会计核算以权责发生制为记账基础。除某些金融工具以公允价值计量外，本财务报表以历史成本
作为计量基础。资产如果发生减值，则按照相关规定计提相应的减值准备。
在历史成本计量下，资产按照购置时支付的现金或者现金等价物的金额或者所付出的对价的公允价值计
量。负债按照因承担现时义务而实际收到的款项或者资产的金额，或者承担现时义务的合同金额，或者
按照日常活动中为偿还负债预期需要支付的现金或者现金等价物的金额计量。
公允价值是市场参与者在计量日发生的有序交易中，出售一项资产所能收到或者转移一项负债所需支付
的价格。无论公允价值是可观察到的还是采用估值技术估计的，在本财务报表中计量和披露的公允价值
均在此基础上予以确定。
`
公允价值计量基于公允价值的输入值的可观察程度以及该等输入值对公允价值计量整体的重要性，被划
分为三个层次：
第一层次输入值是在计量日能够取得的相同资产或负债在活跃市场上未经调整的报价。
第二层次输入值是除第一层次输入值外相关资产或负债直接或间接可观察的输入值。
第三层次输入值是相关资产或负债的不可观察输入值。
持续经营
本集团对自 2017 年 12 月 31 日起 12 个月的持续经营能力进行了评价，未发现对持续经营能力产生重大
怀疑的事项和情况。因此，本财务报表系在持续经营假设的基础上编制。
第 13 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计
1、遵循企业会计准则的声明
本公司编制的财务报表符合会计准则的要求，真实、完整地反映了本公司于 2017 年 12 月 31 日的公司
及合并财务状况以及 2017 年度的公司及合并经营成果和公司及合并现金流量。
2、会计期间
本集团的会计年度为公历年度，即每年 1 月 1 日起至 12 月 31 日止。
3、营业周期
营业周期是指企业提供旅游及相关服务起至实现现金或现金等价物的期间。本集团的营业周期小于 12 个
月，本集团以 12 个月作为资产和负债流动性的划分标准。
4、记账本位币
人民币为本集团经营所处的主要经济环境中的货币，本公司及子公司以人民币为记账本位币。本集团编
制本财务报表时所采用的货币为人民币。
5、同一控制下和非同一控制下企业合并的会计处理方法
企业合并分为同一控制下企业合并和非同一控制下企业合并。
5.1 同一控制下的企业合并
参与合并的企业在合并前后均受同一方或相同的多方最终控制，且该控制并非暂时性的，为同一控制下
的企业合并。
在企业合并中取得的资产和负债，按合并日在其被合并方的账面价值计量。合并方取得的净资产账面价
值与支付的合并对价的账面价值的差额，调整资本公积中的股本溢价，股本溢价不足冲减的则调整留存
收益。
为进行企业合并发生的各项直接费用，于发生时计入当期损益。
5.2 非同一控制下的企业合并及商誉
参与合并的企业在合并前后不受同一方或相同的多方最终控制，为非同一控制下的企业合并。
合并成本指购买方为取得被购买方的控制权而付出的资产、发生或承担的负债和发行的权益性工具的公
允价值。购买方为企业合并发生的审计、法律服务、评估咨询等中介费用以及其他相关管理费用，于发
生时计入当期损益。
购买方在合并中所取得的被购买方符合确认条件的可辨认资产、负债及或有负债在购买日以公允价值计
量。
第 14 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
5、同一控制下和非同一控制下企业合并的会计处理方法 - 续
5.2 非同一控制下的企业合并及商誉 - 续
合并成本大于合并中取得的被购买方可辨认净资产公允价值份额的差额，作为一项资产确认为商誉并按
成本进行初始计量。合并成本小于合并中取得的被购买方可辨认净资产公允价值份额的，首先对取得的
被购买方各项可辨认资产、负债及或有负债的公允价值以及合并成本的计量进行复核，复核后合并成本
仍小于合并中取得的被购买方可辨认净资产公允价值份额的，计入当期损益。
因企业合并形成的商誉在合并财务报表中单独列报，并按照成本扣除累计减值准备后的金额计量。
6、合并财务报表的编制方法
合并财务报表的合并范围以控制为基础予以确定。控制是指投资方拥有对被投资方的权力，通过参与被
投资方的相关活动而享有可变回报，并且有能力运用对被投资方的权力影响其回报金额。一旦相关事实
情况的变化导致上述控制定义涉及的相关要素发生了变化，本集团将进行重新评估。
子公司的合并起始于本集团获得对该子公司的控制权时，终止于本集团丧失对该子公司的控制权时。
对于本集团处置的子公司，处置日(丧失控制权的日期)前的经营成果和现金流量已经适当地包括在合并
利润表和合并现金流量表中。
对于通过非同一控制下的企业合并取得的子公司，其自购买日(取得控制权的日期)起的经营成果及现金
流量已经适当地包括在合并利润表和合并现金流量表中。
对于通过同一控制下的企业合并取得的子公司或吸收合并下的被合并方，无论该项企业合并发生在报告
期的任一时点，视同该子公司或被合并方同受最终控制方控制之日起纳入本集团的合并范围，其自报告
期最早期间期初或同受最终控制方控制之日起的经营成果和现金流量已适当地包括在合并利润表和合并
现金流量表中。
子公司采用的主要会计政策和会计期间按照本公司统一规定的会计政策和会计期间厘定。
本公司与子公司及子公司相互之间发生的内部交易对合并财务报表的影响于合并时抵销。
子公司所有者权益中不属于母公司的份额作为少数股东权益，在合并资产负债表中股东权益项目下以“少
数股东权益”项目列示。子公司当期净损益中属于少数股东权益的份额，在合并利润表中净利润项目下以
“少数股东损益”项目列示。
少数股东分担的子公司的亏损超过了少数股东在该子公司期初所有者权益中所享有的份额，其余额仍冲
减少数股东权益。
对于购买子公司少数股权或因处置部分股权投资但没有丧失对该子公司控制权的交易，作为权益性交易
核算，调整归属于母公司所有者权益和少数股东权益的账面价值以反映其在子公司中相关权益的变化。
少数股东权益的调整额与支付/收到对价的公允价值之间的差额调整资本公积，资本公积不足冲减的，调
整留存收益。
因处置部分股权投资或其他原因丧失了对原有子公司控制权的，剩余股权按照其在丧失控制权日的公允
价值进行重新计量。处置股权取得的对价与剩余股权公允价值之和，减去按原持股比例计算应享有原子
公司自购买日开始持续计算的净资产的份额之间的差额，计入丧失控制权当期的投资收益, 同时冲减商
誉。与原有子公司股权投资相关的其他综合收益，在丧失控制权时转为当期投资收益。
第 15 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
7、现金及现金等价物的确定标准
现金是指企业库存现金以及可以随时用于支付的存款。现金等价物是指本集团持有的期限短、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。
8、外币业务
外币交易在初始确认时采用与交易发生日即期汇率近似的汇率折算，与交易发生日即期汇率近似的汇率
按月初汇率计算确定。
于资产负债表日，外币货币性项目采用该日即期汇率折算为人民币，因该日的即期汇率与初始确认时或
者前一资产负债表日即期汇率不同而产生的汇兑差额，均计入当期损益。
以历史成本计量的外币非货币性项目仍以交易发生日的即期汇率折算的记账本位币金额计量。
9、金融工具
在本集团成为金融工具合同的一方时确认一项金融资产或金融负债。金融资产和金融负债在初始确认时
以公允价值计量。对于以公允价值计量且其变动计入当期损益的金融资产和金融负债，相关的交易费用
直接计入损益，对于其他类别的金融资产和金融负债，相关交易费用计入初始确认金额。
9.1 实际利率法
实际利率法是指按照金融资产或金融负债(含一组金融资产或金融负债)的实际利率计算其摊余成本及各
期利息收入或支出的方法。实际利率是指将金融资产或金融负债在预期存续期间或适用的更短期间内的
未来现金流量，折现为该金融资产或金融负债当前账面价值所使用的利率。
在计算实际利率时，本集团将在考虑金融资产或金融负债所有合同条款的基础上预计未来现金流量(不考
虑未来的信用损失)，同时还将考虑金融资产或金融负债合同各方之间支付或收取的、属于实际利率组成
部分的各项收费、交易费用及折价或溢价等。
9.2 金融资产的分类、确认和计量
金融资产在初始确认时划分为以公允价值计量且其变动计入当期损益的金融资产、持有至到期投资、贷
款和应收款项以及可供出售金融资产。以常规方式买卖金融资产，按交易日会计进行确认和终止确认。
本集团暂无持有至到期投资。
9.2.1 以公允价值计量且其变动计入当期损益的金融资产
以公允价值计量且其变动计入当期损益的金融资产包括交易性金融资产和指定为以公允价值计量且其变
动计入当期损益的金融资产。
第 16 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.2 金融资产的分类、确认和计量 - 续
9.2.1 以公允价值计量且其变动计入当期损益的金融资产 - 续
满足下列条件之一的金融资产划分为交易性金融资产：(1)取得该金融资产的目的，主要是为了近期内出
售；(2)初始确认时属于进行集中管理的可辨认金融工具组合的一部分，且有客观证据表明本集团近期采
用短期获利方式对该组合进行管理；(3)属于衍生工具，但是被指定且为有效套期工具的衍生工具、属于
财务担保合同的衍生工具、与在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资挂钩并
须通过交付该权益工具结算的衍生工具除外。
符合下述条件之一的金融资产，在初始确认时可指定为以公允价值计量且其变动计入当期损益的金融资
产：(1)该指定可以消除或明显减少由于该金融资产的计量基础不同所导致的相关利得或损失在确认或计
量方面不一致的情况；(2)本集团风险管理或投资策略的正式书面文件已载明，对该金融资产所在的金融
资产组合或金融资产和金融负债组合以公允价值为基础进行管理、评价并向关键管理人员报告；(3)符合
条件的包含嵌入衍生工具的混合工具。
以公允价值计量且其变动计入当期损益的金融资产采用公允价值进行后续计量，公允价值变动形成的利
得或损失以及与该金融资产相关的股利和利息收入计入当期损益。
9.2.2 贷款和应收款项
贷款和应收款项是指在活跃市场中没有报价、回收金额固定或可确定的非衍生金融资产。本集团划分为
贷款和应收款项的金融资产包括应收账款、其他应收款和委托贷款。
贷款和应收款项采用实际利率法，按摊余成本进行后续计量，在终止确认、发生减值或摊销时产生的利
得或损失，计入当期损益。
9.2.3 可供出售金融资产
可供出售金融资产包括除了以公允价值计量且其变动计入当期损益的金融资产、贷款和应收款项、持有
至到期投资以外的金融资产。
可供出售金融资产采用公允价值进行后续计量，公允价值变动形成的利得或损失，除减值损失和外币货
币性金融资产与摊余成本相关的汇兑差额计入当期损益外，确认为其他综合收益，在该金融资产终止确
认时转出，计入当期损益。
可供出售金融资产持有期间取得的利息及被投资单位宣告发放的现金股利，计入投资收益。
在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资，按照成本计量。
9.3 金融资产减值
除了以公允价值计量且其变动计入当期损益的金融资产外，本集团在每个资产负债表日对其他金融资产
的账面价值进行检查，有客观证据表明金融资产发生减值的，计提减值准备。表明金融资产发生减值的
客观证据是指金融资产初始确认后实际发生的、对该金融资产的预计未来现金流量有影响，且能够对该
影响进行可靠计量的事项。
第 17 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.3 金融资产减值 - 续
金融资产发生减值的客观证据，包括下列可观察到的各项事项：
(1) 发行方或债务人发生严重财务困难；
(2) 债务人违反了合同条款，如偿付利息或本金发生违约或逾期等；
(3) 本集团出于经济或法律等方面因素的考虑，对发生财务困难的债务人作出让步；
(4) 债务人很可能倒闭或者进行其他财务重组；
(5) 因发行方发生重大财务困难，导致金融资产无法在活跃市场继续交易；
(6) 无法辨认一组金融资产中的某项资产的现金流量是否已经减少，但根据公开的数据对其进行总体
评价后发现，该组金融资产自初始确认以来的预计未来现金流量确已减少且可计量，包括：
- 该组金融资产的债务人支付能力逐步恶化；
- 债务人所在国家或地区经济出现了可能导致该组金融资产无法支付的状况；
(7) 权益工具发行人经营所处的技术、市场、经济或法律环境等发生重大不利变化，使权益工具投资
人可能无法收回投资成本；
(8) 权益工具投资的公允价值发生严重或非暂时性下跌，即于资产负债表日，若一项权益工具投资的
公允价值低于其初始投资成本超过 50%(含 50%)，或低于其初始投资成本持续时间超过 12 个月
(含 12 个月)；
(9) 其他表明金融资产发生减值的客观证据。
- 以摊余成本计量的金融资产减值
以摊余成本计量的金融资产发生减值时，将其账面价值减记至按照该金融资产的原实际利率折现确定的
预计未来现金流量(不包括尚未发生的未来信用损失)现值，减记金额确认为减值损失，计入当期损益。金
融资产在确认减值损失后，如有客观证据表明该金融资产价值已恢复，且客观上与确认该损失后发生的
事项有关，原确认的减值损失予以转回，但金融资产转回减值损失后的账面价值不超过假定不计提减值
准备情况下该金融资产在转回日的摊余成本。
本集团对单项金额重大的金融资产单独进行减值测试；对单项金额不重大的金融资产，单独进行减值测
试或包括在具有类似信用风险特征的金融资产组合中进行减值测试。单独测试未发生减值的金融资产(包
括单项金额重大和不重大的金融资产)，包括在具有类似信用风险特征的金融资产组合中再进行减值测试。
已单项确认减值损失的金融资产，不包括在具有类似信用风险特征的金融资产组合中进行减值测试。
- 可供出售金融资产减值
可供出售金融资产发生减值时，将原计入其他综合收益的因公允价值下降形成的累计损失予以转出并计
入当期损益，该转出的累计损失为该资产初始取得成本扣除已收回本金和已摊销金额、当前公允价值和
原已计入损益的减值损失后的余额。
在确认减值损失后，期后如有客观证据表明该金融资产价值已恢复，且客观上与确认该损失后发生的事
项有关，原确认的减值损失予以转回，可供出售权益工具投资的减值损失转回确认为其他综合收益，可
供出售债务工具的减值损失转回计入当期损益。
第 18 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.3 金融资产减值 - 续
- 以成本计量的金融资产减值
在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资，或与该权益工具挂钩并须通过交付
该权益工具结算的衍生金融资产发生减值时，将其账面价值减记至按照类似金融资产当时市场收益率对
未来现金流量折现确定的现值，减记金额确认为减值损失，计入当期损益。该类金融资产的减值损失一
经确认不予转回。
9.4 金融资产转移
满足下列条件之一的金融资产，予以终止确认：(1)收取该金融资产现金流量的合同权利终止；(2)该金融
资产已转移，且将金融资产所有权上几乎所有的风险和报酬转移给转入方；(3)该金融资产已转移，虽然
本集团既没有转移也没有保留金融资产所有权上几乎所有的风险和报酬，但是放弃了对该金融资产控制。
若本集团既没有转移也没有保留金融资产所有权上几乎所有的风险和报酬，且未放弃对该金融资产的控
制的，则按照继续涉入所转移金融资产的程度确认有关金融资产，并相应确认有关负债。继续涉入所转
移金融资产的程度，是指该金融资产价值变动使企业面临的风险水平。
金融资产整体转移满足终止确认条件的，将所转移金融资产的账面价值及因转移而收到的对价与原计入
其他综合收益的公允价值变动累计额之和的差额计入当期损益。
金融资产部分转移满足终止确认条件的，将所转移金融资产的账面价值在终止确认及未终止确认部分之
间按其相对的公允价值进行分摊，并将因转移而收到的对价与应分摊至终止确认部分的原计入其他综合
收益的公允价值变动累计额之和与分摊的前述账面金额之差额计入当期损益。
9.5 金融负债的分类、确认和计量
本集团根据所发行金融工具的合同条款及其所反映的经济实质而非仅以法律形式，结合金融负债和权益
工具的定义，在初始确认时将该金融工具或其组成部分分类为金融负债或权益工具。
金融负债在初始确认时划分为以公允价值计量且其变动计入当期损益的金融负债和其他金融负债。本集
团的金融负债均为其他金融负债。
9.5.1 其他金融负债
与在活跃市场中没有报价、公允价值不能可靠计量的权益工具挂钩并须通过交付该权益工具结算的衍生
金融负债，按照成本进行后续计量。其他金融负债采用实际利率法，按摊余成本进行后续计量，终止确
认或摊销产生的利得或损失计入当期损益。本集团无财务担保合同。
第 19 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.6 金融负债的终止确认
金融负债的现时义务全部或部分已经解除的，终止确认该金融负债或其一部分。本集团(债务人)与债权
人之间签订协议，以承担新金融负债方式替换现存金融负债，且新金融负债与现存金融负债的合同条款
实质上不同的，终止确认现存金融负债，并同时确认新金融负债。
金融负债全部或部分终止确认的，将终止确认部分的账面价值与支付的对价(包括转出的非现金资产或承
担的新金融负债)之间的差额，计入当期损益。
9.7 金融资产和金融负债的抵销
当本集团具有抵销已确认金融资产和金融负债的法定权利，且该种法定权利是当前可执行的，同时本集
团计划以净额结算或同时变现该金融资产和清偿该金融负债时，金融资产和金融负债以相互抵销后的金
额在资产负债表内列示。除此以外，金融资产和金融负债在资产负债表内分别列示，不予相互抵销。
9.8 权益工具
权益工具是指能证明拥有本集团在扣除所有负债后的资产中的剩余权益的合同。本集团发行(含再融资)、
回购、出售或注销权益工具作为权益的变动处理。本集团不确认权益工具的公允价值变动。与权益性交
易相关的交易费用从权益中扣减。
本集团对权益工具持有方的分配作为利润分配处理，发放的股票股利不影响股东权益总额。
10、应收款项
10.1 单项金额重大并单项计提坏账准备的应收款项
单项金额重大的判断依据或 本集团将金额为人民币 500 万元以上(含人民币 500 万元)的应收账款
金额标准 确认为单项金额重大的应收账款。将金额为人民币 100 万元以上(含人
民币 100 万元)的其他应收款确认为单项金额重大的其他应收款。
单项金额重大并单项计提坏 本集团对单项金额重大的应收款项单独进行减值测试。
账准备的计提方法
10.2 单项金额虽不重大但单项计提坏账准备的应收账款
单项计提坏账准备的理由 依据企业历史经验考量信用记录、经营状况等风险因素。
坏账准备的计提方法 个别认定法。
第 20 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
11、存货
11.1存货的分类
本集团的存货主要为原材料。存货按成本进行初始计量，存货成本包括采购成本和其他使存货达到目前
场所和状态所发生的支出。
11.2发出存货的计价方法
存货发出时，采用加权平均法确定发出存货的实际成本。
11.3存货可变现净值的确定依据及存货跌价准备的计提方法
资产负债表日，存货按照成本与可变现净值孰低计量。当其可变现净值低于成本时，提取存货跌价准备。
可变现净值是指在日常活动中，存货的估计售价减去估计的销售费用以及相关税费后的金额。在确定存
货的可变现净值时，以取得的确凿证据为基础，同时考虑持有存货的目的以及资产负债表日后事项的影
响。
存货按类别计提存货跌价准备。
计提存货跌价准备后，如果以前减记存货价值的影响因素已经消失，导致存货的可变现净值高于其账面
价值的，在原已计提的存货跌价准备金额内予以转回，转回的金额计入当期损益。
11.4 存货的盘存制度
存货盘存制度为永续盘存制。
12、长期股权投资
12.1 共同控制、重要影响的判断标准
控制是指投资方拥有对被投资方的权力，通过参与被投资方的相关活动而享有可变回报，并且有能力运
用对被投资方的权力影响其回报金额。共同控制是指按照相关约定对某项安排所共有的控制，并且该安
排的相关活动必须经过分享控制权的参与方一致同意后才能决策。重大影响是指对被投资方的财务和经
营政策有参与决策的权力，但并不能够控制或者与其他方一起共同控制这些政策的制定。在确定能否对
被投资单位实施控制或施加重大影响时，已考虑投资方和其他方持有的被投资单位当期可转换公司债券、
当期可执行认股权证等潜在表决权因素。
第 21 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
12、长期股权投资 - 续
12.2 初始投资成本的确定
对于同一控制下的企业合并取得的长期股权投资，在合并日按照被合并方所有者权益在最终控制方合并
财务报表中的账面价值的份额作为长期股权投资的初始投资成本。长期股权投资初始投资成本与支付的
现金、转让的非现金资产以及所承担债务账面价值之间的差额，调整资本公积；资本公积不足冲减的，
调整留存收益。以发行权益性证券作为合并对价的，在合并日按照被合并方所有者权益在最终控制方合
并财务报表中的账面价值的份额作为长期股权投资的初始投资成本，按照发行股份的面值总额作为股本，
长期股权投资初始投资成本与所发行股份面值总额之间的差额，调整资本公积；资本公积不足冲减的，
调整留存收益。
对于非同一控制下的企业合并取得的长期股权投资，在购买日按照合并成本作为长期股权投资的初始投
资成本。
合并方或购买方为企业合并发生的审计、法律服务、评估咨询等中介费用以及其他相关管理费用，于发
生时计入当期损益。
除企业合并形成的长期股权投资外其他方式取得的长期股权投资，按成本进行初始计量。对于因能够对
被投资单位实施重大影响或实施共同控制但不构成控制的，长期股权投资成本为按照《企业会计准则第
22 号—金融工具确认和计量》确定的原持有股权投资的公允价值加上新增投资成本之和。
12.3 后续计量及损益确认方法
12.3.1 成本法核算的长期股权投资
公司财务报表采用成本法核算对子公司的长期股权投资。子公司是指本集团能够对其实施控制的被投资
主体。
采用成本法核算的长期股权投资按初始投资成本计价。追加或收回投资调整长期股权投资的成本。当期
投资收益按照享有被投资单位宣告发放的现金股利或利润确认。
12.3.2 权益法核算的长期股权投资
本集团对联营企业和合营企业的投资采用权益法核算。联营企业是指本集团能够对其施加重大影响的被
投资单位，合营企业是指本集团仅对该安排的净资产享有权利的合营安排。
采用权益法核算时，长期股权投资的初始投资成本大于投资时应享有被投资单位可辨认净资产公允价值
份额的，不调整长期股权投资的初始投资成本；初始投资成本小于投资时应享有被投资单位可辨认净资
产公允价值份额的，其差额计入当期损益，同时调整长期股权投资的成本。
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
12、长期股权投资 - 续
12.3 后续计量及损益确认方法 - 续
12.3.2 权益法核算的长期股权投资 - 续
采用权益法核算时，按照应享有或应分担的被投资单位实现的净损益和其他综合收益的份额，分别确认
投资收益和其他综合收益，同时调整长期股权投资的账面价值；按照被投资单位宣告分派的利润或现金
股利计算应享有的部分，相应减少长期股权投资的账面价值；对于被投资单位除净损益、其他综合收益
和利润分配以外所有者权益的其他变动，调整长期股权投资的账面价值并计入资本公积。在确认应享有
被投资单位净损益的份额时，以取得投资时被投资单位各项可辨认资产等的公允价值为基础，对被投资
单位的净利润进行调整后确认。被投资单位采用的会计政策及会计期间与本公司不一致的，按照本公司
的会计政策及会计期间对被投资单位的财务报表进行调整，并据以确认投资收益和其他综合收益。对于
本集团与联营企业及合营企业之间发生的交易，投出或出售的资产不构成业务的，未实现内部交易损益
按照享有的比例计算归属于本集团的部分予以抵销，在此基础上确认投资损益。但本集团与被投资单位
发生的未实现内部交易损失，属于所转让资产减值损失的，不予以抵销。
在确认应分担被投资单位发生的净亏损时，以长期股权投资的账面价值和其他实质上构成对被投资单位
净投资的长期权益减记至零为限。此外，如本集团对被投资单位负有承担额外损失的义务，则按预计承
担的义务确认预计负债，计入当期投资损失。被投资单位以后期间实现净利润的，本集团在收益分享额
弥补未确认的亏损分担额后，恢复确认收益分享额。
12.4 长期股权投资处置
处置长期股权投资时，其账面价值与实际取得价款的差额，计入当期损益。
13、投资性房地产
投资性房地产是指为赚取租金或资本增值，或两者兼有而持有的房地产，主要为已出租的房屋建筑物等。
投资性房地产按成本进行初始计量。与投资性房地产有关的后续支出，如果与该资产有关的经济利益很
可能流入且其成本能可靠地计量，则计入投资性房地产成本。其他后续支出，在发生时计入当期损益。
本集团采用成本模式对投资性房地产进行后续计量，并按照与房屋建筑物一致的政策进行折旧。本集团
投资性房地产的折旧年限为 50 年，残值率为 5%。
投资性房地产出售、转让、报废或毁损的处置收入扣除其账面价值和相关税费后的差额计入当期损益。
14、固定资产
14.1 确认条件
固定资产是指为生产商品、提供劳务、出租或经营管理而持有的，使用寿命超过一个会计年度的有形资
产。固定资产仅在与其有关的经济利益很可能流入本集团，且其成本能够可靠地计量时才予以确认。固
定资产按成本进行初始计量。
与固定资产有关的后续支出，如果与该固定资产有关的经济利益很可能流入且其成本能可靠地计量，则
计入固定资产成本，并终止确认被替换部分的账面价值。除此以外的其他后续支出，在发生时计入当期
损益。
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
14、固定资产 - 续
14.2 折旧方法
固定资产从达到预定可使用状态的次月起，采用年限平均法在使用寿命内计提折旧。各类固定资产的使
用寿命、预计净残值和年折旧率如下：
类别 折旧年限(年) 残值率(%) 年折旧率(%)
房屋及建筑物 20-50 5-10 1.8-4.75
机器设备 5-20 5-10 4.5-19
电子设备、器具及家具 5-10 5-10 9.0-19
运输工具 5-8 5-10 11.25-19
固定资产装修支出 5 0 20
预计净残值是指假定固定资产预计使用寿命已满并处于使用寿命终了时的预期状态，本集团目前从该项
资产处置中获得的扣除预计处置费用后的金额。
14.3 其他说明
当固定资产处于处置状态或预期通过使用或处置不能产生经济利益时，终止确认该固定资产。固定资产
出售、转让、报废或毁损的处置收入扣除其账面价值和相关税费后的差额计入当期损益。
本集团至少于年度终了对固定资产的使用寿命、预计净残值和折旧方法进行复核，如发生改变则作为会
计估计变更处理。
15、在建工程
在建工程按实际成本计量，实际成本包括在建期间发生的各项工程支出以及其他相关费用等。在建工程
不计提折旧。在建工程在达到预定可使用状态后结转为固定资产、无形资产或长期待摊费用。
16、无形资产
本集团的无形资产为软件。
无形资产按成本进行初始计量。使用寿命有限的无形资产自可供使用时起，对其原值在其预计使用寿命
内采用直线法分期平均摊销。无形资产的摊销方法、使用寿命和预计净残值如下：
类别 摊销方法 使用寿命(年) 残值率(%)
软件 直线法 3-5 0
年末，对使用寿命有限的无形资产的使用寿命和摊销方法进行复核，必要时进行调整。
17、长期待摊费用
长期待摊费用为已经发生但应由本期和以后各期负担的分摊期限在一年以上的各项费用。长期待摊费用
在预计受益期间分期平均摊销。长期待摊费用的预计受益期间及年摊销率如下：
类别 受益期间(年) 年摊销率(%)
经营租入固定资产装修支出 3-5 20-33.33
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
18、长期资产减值
本集团在每一个资产负债表日检查长期股权投资、投资性房地产、固定资产、在建工程、使用寿命确定
的无形资产及经营租入固定资产装修支出是否存在可能发生减值的迹象。如果该等资产存在减值迹象，
则估计其可收回金额。使用寿命不确定的无形资产和尚未达到可使用状态的无形资产，无论是否存在减
值迹象，每年均进行减值测试。
估计资产的可收回金额以单项资产为基础，如果难以对单项资产的可收回金额进行估计的，则以该资产
所属的资产组为基础确定资产组的可收回金额。可收回金额为资产或者资产组的公允价值减去处置费用
后的净额与其预计未来现金流量的现值两者之中的较高者。
如果资产的可收回金额低于其账面价值，按其差额计提资产减值准备，并计入当期损益。
商誉至少在每年年度终了进行减值测试。对商誉进行减值测试时，结合与其相关的资产组或者资产组组
合进行。即，自购买日起将商誉的账面价值按照合理的方法分摊到能够从企业合并的协同效应中受益的
资产组或资产组组合，如包含分摊的商誉的资产组或资产组组合的可收回金额低于其账面价值的，确认
相应的减值损失。减值损失金额首先抵减分摊到该资产组或资产组组合的商誉的账面价值，再根据资产
组或资产组组合中除商誉以外的其他各项资产的账面价值所占比重，按比例抵减其他各项资产的账面价
值。
上述资产减值损失一经确认，在以后会计期间不予转回。
19、职工薪酬
19.1 短期薪酬的会计处理方法
本集团在职工为其提供服务的会计期间，将实际发生的短期薪酬确认为负债，并计入当期损益或相关资
产成本。本集团发生的职工福利费，在实际发生时根据实际发生额计入当期损益或相关资产成本。职工
福利费为非货币性福利的，按照公允价值计量。
本集团为职工缴纳的医疗保险费、工伤保险费、生育保险费等社会保险费和住房公积金，以及本集团按
规定提取的工会经费和职工教育经费，在职工为本集团提供服务的会计期间，根据规定的计提基础和计
提比例计算确定相应的职工薪酬金额，确认相应负债，并计入当期损益或相关资产成本。
19.2 离职后福利的会计处理方法
离职后福利全部为设定提存计划。
本集团在职工为其提供服务的会计期间，将根据设定提存计划计算的应缴存金额确认为负债，并计入当
期损益或相关资产成本。
19.3 辞退福利的会计处理方法
本集团向职工提供辞退福利的，在下列两者孰早日确认辞退福利产生的职工薪酬负债，并计入当期损益：
不能单方面撤回因解除劳动关系计划或裁减建议所提供的辞退福利时；确认与涉及支付辞退福利的重组
相关的成本或费用时。
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
20、预计负债
当与或有事项相关的义务是本集团承担的现时义务，且履行该义务很可能导致经济利益流出，以及该义
务的金额能够可靠地计量，则确认为预计负债。
在资产负债表日，考虑与或有事项有关的风险、不确定性和货币时间价值等因素，按照履行相关现时义
务所需支出的最佳估计数对预计负债进行计量。如果货币时间价值影响重大，则以预计未来现金流出折
现后的金额确定最佳估计数。
21、收入
21.1 提供劳务收入
在提供劳务收入的金额能够可靠地计量，相关的经济利益很可能流入企业时，确认提供劳务收入的实现。
本集团旅行团业务均在团队行程结束、所有服务都已完成时，确认收入并结转成本。如果已经发生的劳
务成本如预计不能得到补偿的，则不确认收入。
21.2 商品销售收入
在已将商品所有权上的主要风险和报酬转移给买方，既没有保留通常与所有权相联系的继续管理权，也
没有对已售商品实施有效控制，收入的金额能够可靠地计量，相关的经济利益很可能流入本集团，相关
的已发生或将发生的成本能够可靠地计量时，确认商品销售收入的实现。
22、政府补助
政府补助是指本集团从政府无偿取得货币性资产和非货币性资产。政府补助根据相关政府文件中明确规
定的补助对象性质划分为与收益相关的政府补助。
政府补助在能够满足政府补助所附条件且能够收到时予以确认。政府补助为货币性资产的，按照收到的
金额计量。
与收益相关的政府补助判断依据及会计处理方法
本集团的政府补助中的品牌奖励及区财政局财政补助与产业扶持基金，由于此类补助与本集团长期资产
的形成无关，该等政府补助为与收益相关的政府补助。
与收益相关的政府补助，用于补偿以后期间的相关费用和损失的，确认为递延收益，并在确认相关费用
的期间计入当期损益；用于补偿已经发生的相关费用和损失的，直接计入当期损益。
与本集团日常活动相关的政府补助，按照经济业务实质，计入其他收益。与本集团日常活动无关的政府
补助，计入营业外收入。
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
23、所得税
所得税费用包括当期所得税和递延所得税。
23.1 当期所得税
资产负债表日，对于当期和以前期间形成的当期所得税负债(或资产)，以按照税法规定计算的预期应交
纳(或返还)的所得税金额计量。
23.2 递延所得税资产及递延所得税负债
对于某些资产、负债项目的账面价值与其计税基础之间的差额，以及未作为资产和负债确认但按照税法
规定可以确定其计税基础的项目的账面价值与计税基础之间的差额产生的暂时性差异，采用资产负债表
债务法确认递延所得税资产及递延所得税负债。
一般情况下所有暂时性差异均确认相关的递延所得税。但对于可抵扣暂时性差异，本集团以很可能取得
用来抵扣可抵扣暂时性差异的应纳税所得额为限，确认相关的递延所得税资产。此外，与商誉的初始确
认相关的，以及与既不是企业合并、发生时也不影响会计利润和应纳税所得额(或可抵扣亏损)的交易中
产生的资产或负债的初始确认有关的暂时性差异，不予确认有关的递延所得税资产或负债。
对于能够结转以后年度的可抵扣亏损及税款抵减，以很可能获得用来抵扣可抵扣亏损和税款抵减的未来
应纳税所得额为限，确认相应的递延所得税资产。
本集团确认与子公司、联营企业及合营企业投资相关的应纳税暂时性差异产生的递延所得税负债，除非
本集团能够控制暂时性差异转回的时间，而且该暂时性差异在可预见的未来很可能不会转回。对于与子
公司、联营企业及合营企业投资相关的可抵扣暂时性差异，只有当暂时性差异在可预见的未来很可能转
回，且未来很可能获得用来抵扣可抵扣暂时性差异的应纳税所得额时，本集团才确认递延所得税资产。
资产负债表日，对于递延所得税资产和递延所得税负债，根据税法规定，按照预期收回相关资产或清偿
相关负债期间的适用税率计量。
除与直接计入其他综合收益或股东权益的交易和事项相关的当期所得税和递延所得税计入其他综合收益
或股东权益，以及企业合并产生的递延所得税调整商誉的账面价值外，其余当期所得税和递延所得税费
用或收益计入当期损益。
资产负债表日，对递延所得税资产的账面价值进行复核，如果未来很可能无法获得足够的应纳税所得额
用以抵扣递延所得税资产的利益，则减记递延所得税资产的账面价值。在很可能获得足够的应纳税所得
额时，减记的金额予以转回。
23.3 所得税的抵销
当拥有以净额结算的法定权利，且意图以净额结算或取得资产、清偿负债同时进行时，本集团当期所得
税资产及当期所得税负债以抵销后的净额列报。
当拥有以净额结算当期所得税资产及当期所得税负债的法定权利，且递延所得税资产及递延所得税负债
是与同一税收征管部门对同一纳税主体征收的所得税相关或者是对不同的纳税主体相关，但在未来每一
具有重要性的递延所得税资产及负债转回的期间内，涉及的纳税主体意图以净额结算当期所得税资产和
负债或是同时取得资产、清偿负债时，本集团递延所得税资产及递延所得税负债以抵销后的净额列报。
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
24、租赁
实质上转移了与资产所有权有关的全部风险和报酬的租赁为融资租赁。融资租赁以外的其他租赁为经营
租赁。
24.1 本集团作为承租人记录经营租赁业务
经营租赁的租金支出在租赁期内的各个期间按直线法计入相关资产成本或当期损益。初始直接费用计入
当期损益。或有租金于实际发生时计入当期损益。
24.2 本集团作为出租人记录经营租赁业务
经营租赁的租金收入在租赁期内的各个期间按直线法确认为当期损益。对金额较大的初始直接费用于发
生时予以资本化，在整个租赁期间内按照与确认租金收入相同的基础分期计入当期损益；其他金额较小
的初始直接费用于发生时计入当期损益。或有租金于实际发生时计入当期损益。
25、重要会计政策变更
会计政策变更的内容和原因 审批程序 备注
本集团于 2017 年 5 月 28 日开始采用财政部于 2017 年新颁布的《企业会计 该等会计政策变
准则第 42 号—持有待售的非流动资产、处置组和终止经营》，于 2017 年 6 更由本公司董事
月 12 日开始采用财政部于 2017 年修订的《企业会计准则第 16 号—政府补 会会议批准。
助》。此外，本财务报表还按照财政部 2017 年 12 月 25 日颁布的《关于修
订印发一般企业财务报表格式的通知》(财会(2017)30 号，以下简称“财会
30 号文件”)编制。
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(三) 重要会计政策和会计估计 - 续
25、重要会计政策变更 - 续
会计政策变更的内容和原因 审批程序 备注
持有待售的非流动资产、处置组和终止经营
该等会计政策变
更由本公司董事
《企业会计准则第 42 号—持有待售的非流动资产、处置组和终止经营》对
会会议批准。
持有待售类别的非流动资产或处置组的分类、计量作出了具体规定，要求
在利润表中分别列示持续经营损益和终止经营损益，在附注中详细披露持
有待售非流动资产或处置组、终止经营的信息。该准则要求采用未来使用
法处理，未对可比年度财务报表产生影响。
政府补助
执行《企业会计准则第 16 号—政府补助》（修订）之前，本集团与收益相
关的政府补助，用于补偿以后期间的相关费用和损失的，确认为递延收益，
并在确认相关费用的期间计入营业外收入；用于补偿已经发生的相关费用
和损失的，直接计入营业外收入。
执行《企业会计准则第 16 号—政府补助》（修订）后，本集团与收益相关
的政府补助用于补偿以后期间的相关费用和损失的，确认为递延收益，并
在确认相关成本费用或损失的期间，计入当期损益；用于补偿已经发生的
相关费用和损失的，直接计入当期损益。与本集团日常活动相关的政府补
助，按照经济业务实质，计入其他收益。与本集团日常活动无关的政府补
助，计入营业外收支。
本集团采用未来适用法对上述会计政策变更进行会计处理，该会计政策变
更未对可比年度财务报表产生影响。
资产处置损益的列报
在财会 30 号文件发布以前，本集团处置未划分为持有待售的固定资产、在
建工程及无形资产而产生的处置利得或损失，在“营业外收入”或“营业外
支出”项目列报。
在财会 30 号文件发布以后，本集团处置未划分为持有待售的固定资产、在
建工程及无形资产而产生的处置利得或损失，在“资产处置收益”项目列
报。对于上述列报项目的变更，本集团采用追溯调整法进行会计处理，并
对上年比较数据进行调整。
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(四) 运用会计政策过程中所做的重要判断和会计估计所采用的关键假设和不确定因素
本集团在运用上述会计政策过程中，由于经营活动内在的不确定性，需要对无法准确计量的报表项目的
账面价值进行判断、估计和假设。这些判断、估计和假设是基于本集团管理层过去的历史经验，并在考
虑其他相关因素的基础上作出的。实际的结果可能与本集团的估计存在差异。
本集团对前述判断、估计和假设在持续经营的基础上进行定期复核，会计估计的变更仅影响变更当期的，
其影响数在变更当期予以确认；既影响变更当期又影响未来期间的，其影响数在变更当期和未来期间予
以确认。
重要会计估计及其关键假设
下列重要会计估计及关键假设存在会导致下一会计年度资产和负债的账面价值出现重大调整的关键假设
和不确定性有：
递延所得税资产和递延所得税负债
于 2017 年 12 月 31 日，本集团确认的递延所得税资产余额人民币 15,098,051.41 元(于 2016 年 12 月 31
日：人民币 9,999,729.76 元)。递延所得税资产的确定，以未来很可能取得用来抵扣暂时性差异的应纳税
所得额为限。如果预计未来期间无法取得足够的应纳税所得额用以利用可抵扣暂时性差异带来的经济利
益，本集团管理层将减记递延所得税资产的账面价值，同时增加当年的所得税费用。
此外，由于无法确定相关可抵扣税务亏损和可抵扣暂时性差异是否很可能转回，故本集团对于部分可抵
扣税务亏损及可抵扣暂时性差异未确认为递延所得税资产。如未来实际产生的盈利多于预期，将视情况
调整相应的递延所得税资产，确认在该情况发生期间的合并利润表中。
第 30 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(五) 税项
主要税种及税率
税种 计税依据 税率
本公司所提供的不动产经营租赁服务，系出租其 2016 年 4 月 30 5%
日前取得的不动产，选择适用简易计税方法，以不含税销售额为
计税基础，按照 5%的征收率计算应纳税额。
上海锦江国际绿色假期旅游有限公司为增值税小规模纳税人，
3%
以不含税销售额为计税基础，按照 3%的征收率计算应纳税额。
上海锦江国际旅游股份有限公司旅游汽车分公司所提供的交通 11%
增值税
运输服务，以不含税销售额为计税基础，适用税率 11%。
本公司所提供其他的服务，适用税率为 6%。其中主要系提供的
旅游服务，以取得的全部价款和价外费用，扣除向旅游购买方收
取并支付给其他单位或个人的住宿费、餐饮费、交通费、签证费、 6%
门票费和支付给其他接团旅游企业的旅游费用后的余额为销售
额，以不含税销售额为计税基础。 (注 1)
5%
营业税 旅游收入(扣除免税成本)
(注 2)
城市维护建设税 实际缴纳的增值税和营业税税额 7%
25%或 10%
企业所得税 应纳税所得额
(注 3)
注 1：根据财政部颁布的财会[2016]22 号文所附《增值税会计处理规定》，本集团将 2017 年 12 月 31 日
以及 2016 年 12 月 31 日的待抵扣进项税和增值税留抵税额借方余额作为其他流动资产列报，将
2016 年 5 月 1 日至 2016 年 12 月 31 日止期间以及 2017 年的房产税、城镇土地使用税、印花税及
其他相关税费发生额作为税金及附加进行列报。
注 2：于 2016 年 1 月 1 日至 2016 年 4 月 30 日止期间内，本公司下属旅行社提供的旅游服务业务以及不
动产租赁业务适用营业税应税范畴。根据财税[2016]36 号文《关于全面推开营业税改征增值税试点
的通知》，自 2016 年 5 月 1 日起，旅游服务业务属于生活服务业、不动产租赁业务属于现代服务
业，适用于增值税应税范围。
注 3：上海锦江出入境服务有限公司、上海国之旅物业管理有限公司以及上海国之旅导游服务有限公司
属于微利企业，2017 年适用所得税税率为 10%。除上述三家子公司外，本公司及其他纳入合并报
表范围内的子公司所得税税率均为 25%。
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上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释
1、货币资金
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
项目
外币金额 折算率 人民币金额 外币金额 折算率 人民币金额
库存现金： 193,137.53 162,223.52
人民币 193,137.53 162,223.52
银行存款： 155,295,730.57 215,946,819.04
人民币 141,919,073.79 206,677,009.19
美元 1,766,110.47 6.5342 11,540,119.02 1,089,895.77 6.9370 7,560,606.94
日元 6,996,727.69 0.057883 404,991.59 909,050.51 0.0596 54,171.23
澳大利亚元 24,724.72 5.0928 125,918.05 1,293.71 5.0157 6,488.86
欧元 167,338.88 7.8023 1,305,628.12 225,617.62 7.3068 1,648,542.82
其他货币资金(注)： 68,684,373.04 269,330,936.65
人民币 68,684,373.04 269,330,936.65
合计 224,173,241.14 485,439,979.21
注：于 2017 年 12 月 31 日，其他货币资金金额中包括：保证收益型存款人民币 55,000,000.00 元(于 2016
年 12 月 31 日：人民币 250,000,000.00 元)、旅行社质量保证金、旅行授信业务保证金、证券账户保
证金及公司信用卡余额人民币 6,584,373.04 元(于 2016 年 12 月 31 日：人民币 5,230,936.65 元)及保函
保证金人民币 7,100,000.00 元(于 2016 年 12 月 31 日：人民币 14,100,000.00 元)。
2、应收账款
(1) 应收账款按种类披露：
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
账面余额 坏账准备 账面价值 账面余额 坏账准备 账面价值
种类
比例 比例
金额 金额 金额 金额 比例(%) 金额 比例(%) 金额
(%) (%)
单项金额重
大并单项计
15,573,817.87 14.83 - - 15,573,817.87 13,838,769.82 16.94 - - 13,838,769.82
提坏账准备
的应收账款
单项金额虽
不重大但单
项计提坏账 89,429,671.77 85.17 1,860,572.30 2.08 87,569,099.47 67,874,859.34 83.06 1,959,767.40 2.89 65,915,091.94
准备的应收
账款
合计 105,003,489.64 100.00 1,860,572.30 1.77 103,142,917.34 81,713,629.16 100.00 1,959,767.40 2.40 79,753,861.76
(2) 本年度计提、收回或转回及核销坏账准备情况
人民币元
2017 年 2016 年
年初数 1,959,767.40 3,472,889.09
本年转回数 (99,195.10) (1,513,121.69)
年末数 1,860,572.30 1,959,767.40
第 32 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
2、应收账款 - 续
(3) 按欠款方归集的本年末余额前五名的应收账款情况
人民币元
占应收账款净额
单位名称 金额 坏账准备 账面价值
的比例(%)
客户甲 10,080,217.10 - 10,080,217.10 9.77
客户乙 5,493,600.77 - 5,493,600.77 5.33
客户丙 4,917,223.10 - 4,917,223.10 4.77
客户丁 4,787,260.36 - 4,787,260.36 4.64
客户戊 4,539,024.00 - 4,539,024.00 4.40
合计 29,817,325.33 - 29,817,325.33 28.91
3、预付款项
(1) 预付款项按账龄披露：
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
账龄
金额 比例(%) 金额 比例(%)
1 年以内 37,342,339.47 97.83 65,864,402.98 98.08
1至2年 828,879.00 2.17 1,286,961.00 1.92
合计 38,171,218.47 100.00 67,151,363.98 100.00
(2) 按预付对象归集的年末余额前五名的预付款项情况
人民币元
单位名称 金额 占预付款项总额的比例(%)
供应商甲 4,743,806.00 12.43
供应商乙 1,008,008.20 2.64
供应商丙 901,546.15 2.36
供应商丁 828,879.00 2.17
供应商戊 610,840.00 1.60
合计 8,093,079.35 21.20
第 33 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
4、其他应收款
(1) 其他应收款按种类披露：
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
账面余额 坏账准备 账面价值 账面余额 坏账准备 账面价值
种类
比例
金额 金额 比例(%) 金额 金额 比例(%) 金额 比例(%) 金额
(%)
单项金额重大
并单项计提坏
7,402,466.00 50.49 - - 7,402,466.00 1,300,000.00 13.12 - - 1,300,000.00
账准备的应收
账款
单项金额虽不
重大但单项计
7,258,885.07 49.51 2,200 0.03 7,256,685.07 8,605,021.35 86.88 2,200.00 0.03 8,602,821.35
提坏账准备的
应收账款
合计 14,661,351.07 100.00 2,200 0.02 14,659,151.07 9,905,021.35 100.00 2,200.00 0.02 9,902,821.35
(2) 其他应收款坏账准备余额无变动。
(3) 按款项性质列示其他应收款
人民币元
其他应收款性质 2017 年 12 月 31 日 2016 年 12 月 31 日
电商销售平台代收经营款 7,421,940.88 -
押金 5,088,386.00
4,310,361.92 6,965,136.56
业务周转金 606,920.73
4,310,361.92 536,572.50
(15,325,904.44)
其他 1,541,903.46 2,401,112.29
(15,325,904.44)
7,239,410.19
合计 14,659,151.07 9,902,821.35
7,239,410.19
(4) 按欠款方归集的年末余额前五名的其他应收款情况
人民币元
占其他应收款
单位名称 金额 坏账准备 账面价值
净额的比例(%)
公司甲 7,402,466.00 - 7,402,466.00 50.50
公司乙 500,000.00 - 500,000.00 3.41
公司丙 420,000.00 - 420,000.00 2.87
公司丁 334,206.00 - 334,206.00 2.28
公司戊 300,000.00 - 300,000.00 2.05
合计 8,956,672.00 - 8,956,672.00 61.11
第 34 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
5、存货
(1) 存货分类
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
项目
账面余额 跌价准备 账面价值 账面余额 跌价准备 账面价值
原材料 391,339.53 141,841.51 249,498.02 441,746.79 141,841.51 299,905.28
合计 391,339.53 141,841.51 249,498.02 441,746.79 141,841.51 299,905.28
(2) 本年度内，存货跌价准备余额无变动。
6、其他流动资产
人民币元
项目 2017 年 2016 年
待抵扣增值税进项税 67,085.49 -
7、可供出售金融资产
(1) 可供出售金融资产情况
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
项目
账面余额 减值准备 账面价值 账面余额 减值准备 账面价值
可供出售权益工具
公允价值计量 947,371,170.05 - 947,371,170.05 730,425,794.60 - 730,425,794.60
按成本计量 57,508.00 - 57,508.00 57,508.00 - 57,508.00
合计 947,428,678.05 - 947,428,678.05 730,483,302.60 - 730,483,302.60
本年末公允价值参考上海证券交易所和深圳证券交易所于 2017 年 12 月 31 日收盘价确定。
第 35 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
7、可供出售金融资产 - 续
(2) 年末按公允价值计量的可供出售金融资产
人民币元
可供出售金融资产分类 可供出售权益工具
权益工具的成本 406,712,710.65
公允价值 947,371,170.05
累计计入其他综合收益的公允价值变动金额 405,493,844.55
已计提减值金额 -
人民币元
股票 2016 年 本年公允价值 2017 年
被投资公司名称 年初持股数 本年购入 本年处置 年末持股数
代码 12 月 31 日 变动 12 月 31 日
浦发银行(注 1) 600000 24,885,975 403,401,654.75 (106,425.47) - (88,545,229.28) 314,750,000.00 25,000,000
交通银行(注 2) 601328 30,647,500 176,836,075.00 19,417,139.66 300,546,859.86 - 496,800,074.52 80,000,012
豫园股份(注 3) 600655 11,954,830 136,524,158.60 (8,472,441.74) - (3,970,649.58) 124,081,067.28 11,553,172
申万宏源 000166 2,186,225 13,663,906.25 (1,923,878.00) - - 11,740,028.25 2,186,225
合计 730,425,794.60 8,914,394.45 300,546,859.86 (92,515,878.86) 947,371,170.05
注 1：本年度内，浦发银行向全体普通股股东每股转增股份 0.3 股，本公司共获赠浦发银行股票 6,925,793
股。本年度内，本公司共出售所持浦发银行股票 6,811,768 股。
注 2：本年度内，本公司共购入交通银行股票 49,352,512 股。于 2017 年 11 月 9 日，公司根据《中国证
券金融股份有限公司转融通业务规则(试行)》，将持有的交通银行股票 230,000 股在中国证券金
融股份有限公司平台进行融券业务，期限为 182 天。于期限内，公司将获得约定收益率的融券收
益；于期满后，公司将收回相同股数的交通银行股票。
注 3：本年度内，本公司共出售所持豫园股份股票 401,658 股。
(3) 年末按成本计量的可供出售金融资产
本公司对上海宝鼎投资股份有限公司的股权投资年末余额为人民币 57,508.00 元，由于该公司股票
未在任何交易市场交易，且其公允价值不能可靠计量，故采用成本计量。
第 36 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
8、长期股权投资
人民币元
本年增减变动
在被投资
2016 年 2017 年 减值准备
被投资单位 初始投资成本 单位持股
12 月 31 日 权益法下确认 其他综合 其他权 宣告发放现金 计提减 12 月 31 日 年末余额
比例(%) 追加投资 减少投资 其他
的投资损益 收益调整 益变动 股利或利润 值准备
联营企业
上海锦江商旅汽
车服务股份有限 20,020,020.00 20.00 57,037,696.04 - - 6,216,028.90 - - - - - 63,253,724.94
-
公司
上海浦江游览有
13,360,284.59 20.00 12,324,055.62 - (12,963,356.11) 639,300.49 - - - - - - -
限公司(注)
上海东方航空国
际旅游运输有限 3,920,000.00 49.00 268,901.13 - - 4,557.38 - - - - - 273,458.51 -
公司
上海外航国际旅
1,050,000.00 30.00 3,559,833.10 - - (2,729,460.37) - - - - - 830,372.73 -
行社有限公司
上海一日旅行社
800,000.00 22.86 120,858.08 - - (120,858.08) - - - - - - -
有限公司
上海聚星物业管
理有限公司
246,500.00 24.65 1,030,348.60 - - 14,980.31 - - - - - 1,045,328.91 -
合计 39,396,804.59 74,341,692.57 - (12,963,356.11) 4,024,548.63 - - - - - 65,402,885.09 -
注：于 2017 年 3 月 28 日，本集团与上海交运(集团)公司签订股权转让协议，转让公司持有的上海浦江游览有限公司 20%股权。根据协议，转让对价为人民
币 15,702,366.00 元，本集团确认处置收益人民币 2,739,009.89 元。
第 37 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
9、投资性房地产
人民币元
项目 房屋及建筑物
一、账面原值
1.2016 年 12 月 31 日 215,411,094.17
2.固定资产转入(注) 22,035,029.17
3.2017 年 12 月 31 日 237,446,123.34
二、累计折旧
1.2016 年 12 月 31 日 77,167,017.57
2.本年增加金额 14,798,447.15
(1)计提折旧 4,139,961.72
(2)固定资产转入(注) 10,658,485.43
3.2017 年 12 月 31 日 91,965,464.72
三、减值准备
1.2016 年 12 月 31 日 -
2.2017 年 12 月 31 日 -
四、账面价值
1.2016 年 12 月 31 日 138,244,076.60
2.2017 年 12 月 31 日 145,480,658.62
注：2017 年 12 月 31 日，本集团将部分原自用房产改为对外出租，自固定资产转作投资性房地产并采用
成本计量。
第 38 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
10、固定资产
(1) 固定资产情况
人民币元
项目 房屋及建筑物 机器设备 电子设备、器具及家具 运输工具 固定资产装修支出 合计
一、账面原值
1.2016 年 12 月 31 日 75,225,368.10 10,443,526.85 4,197,002.29 10,592,774.56 9,930,945.40 110,389,617.20
2.本年增加 - 购置 - 71,898.96 41,500.00 905,923.13 - 1,019,322.09
3.本年减少 (22,823,113.17) (197,217.50) (920,924.38) (244,130.00) - (24,185,385.05)
(1) 处置或报废 (788,084.00) (197,217.50) (920,924.38) (244,130.00) - (2,150,355.88)
(2) 自用房地产转换为投资性房地产 (22,035,029.17) - - - - (22,035,029.17)
4. 2017 年 12 月 31 日 52,402,254.93 10,318,208.31 3,317,577.91 11,254,567.69 9,930,945.40 87,223,554.24
二、累计折旧
1. 2016 年 12 月 31 日 29,623,806.34 8,506,663.08 3,313,588.92 5,688,373.96 7,628,684.54 54,761,116.84
2.本年增加 - 计提 1,350,907.56 561,468.91 519,730.41 1,126,368.18 2,198,006.29 5,756,481.35
3.本年减少 (11,407,165.23) (181,721.99) (892,291.30) (231,923.50) - (12,713,102.02)
(1) 处置或报废 (748,679.80) (181,721.99) (892,291.30) (231,923.50) - (2,054,616.59)
(2) 自用房地产转换为投资性房地产 (10,658,485.43) - - - - (10,658,485.43)
4. 2017 年 12 月 31 日 19,567,548.67 8,886,410.00 2,941,028.03 6,582,818.64 9,826,690.83 47,804,496.17
三、减值准备
1. 2016 年 12 月 31 日 - - - - - -
2. 2017 年 12 月 31 日 - - - - - -
四、账面价值
1. 2016 年 12 月 31 日 45,601,561.76 1,936,863.77 883,413.37 4,904,400.60 2,302,260.86 55,628,500.36
2. 2017 年 12 月 31 日 32,834,706.26 1,431,798.31 376,549.88 4,671,749.05 104,254.57 39,419,058.07
第 39 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
10、固定资产 - 续
(2) 未办妥产权证书的固定资产情况
人民币元
项目 账面价值 未办妥产权证书原因
北京丰台房产一处 78,910.73 该房产非商品房，无法办理产权证书
11、在建工程
(1) 在建工程明细如下：
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
项目
账面余额 减值准备 账面净值 账面余额 减值准备 账面净值
长乐路 400 号及 191 号装修工程 3,870,492.88 - 3,870,492.88 - - -
公民游系统配套网站整合改造项目 - - - 601,910.37 - 601,910.37
其他工程 99,779.60 - 99,779.60 63,000.00 - 63,000.00
合计 3,970,272.48 - 3,970,272.48 664,910.37 - 664,910.37
第 40 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
11、在建工程 - 续
(2) 在建工程项目变动情况：
人民币元
其中：本年
工程投入占预 利息资本化累 本年利息资
项目名称 预算数 2016 年 12 月 31 日 本年增加 本年减少(注) 2017 年 12 月 31 日 工程进度 利息资本化 资金来源
算比例(%) 计金额 本化率(%)
金额
公民游系统配套网站整合改
1,000,000.00 601,910.37 - 601,910.37 - 不适用 不适用 - - - 自筹
造项目
长乐路 400 号语音及网络服
1,374,120.00 - 1,296,339.59 1,296,339.59 - 94.34 完工 - - - 自筹
务工程
长乐路 400 号及 191 号装修
5,942,755.70 - 3,870,492.88 - 3,870,492.88 65.13 在建 - - - 自筹
工程
其他工程 1,710,000.00 63,000.00 99,779.60 63,000.00 99,779.60 不适用 不适用 - - - 自筹
合计 10,026,875.70 664,910.37 5,266,612.07 1,961,249.96 3,970,272.48 - - -
注：本年减少包括完工转入长期待摊费用人民币 1,296,339.59 元，以及项目终止转入管理费用人民币 664,910.37 元。
第 41 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
12、无形资产
人民币元
项目 软件
一、账面原值
1.2016 年 12 月 31 日 7,224,502.28
2.本年增加金额 - 购置 -
3.2017 年 12 月 31 日 7,224,502.28
二、累计摊销
1.2016 年 12 月 31 日 6,566,127.19
2.本年增加金额 - 计提摊销 579,625.09
3.2017 年 12 月 31 日 7,145,752.28
三、减值准备
1.2016 年 12 月 31 日 -
2.2017 年 12 月 31 日 -
四、账面价值
1.2016 年 12 月 31 日 658,375.09
2.2017 年 12 月 31 日 78,750.00
13、商誉
人民币元
2017 年 12 月 31 日
被投资单位名称或形成商誉的事项
及 2016 年 12 月 31 日
上海锦江国际会展有限公司(注) 631,400.11
注：本年末，本集团评估了上述商誉的可收回金额。可收回金额按照预计未来现金流量的现值确定。未
来现金流量基于管理层批准的 2018 年至 2022 年的财务预算确定。在预计未来现金流量的现值时使
用的其他关键假设还有：基于该资产过去的业绩和管理层对市场发展的预期估计会展业务收入的年
平均增长率及折现率。管理层确定与本集团相关的商誉并未发生减值。
第 42 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
14、长期待摊费用
人民币元
项目 2016 年 12 月 31 日 本年在建工程转入 本年摊销额 2017 年 12 月 31 日
经营租入固定资产装修支出 1,651,639.89 1,296,339.59 (879,394.24) 2,068,585.24
15、递延所得税资产/递延所得税负债
递延所得税资产和递延所得税负债不以抵销后的净额列示。
(1) 已确认的递延所得税资产和递延所得税负债
人民币元
2017 年 12 月 31 日 2017 年 12 月 31 日 2016 年 12 月 31 日 2016 年 12 月 31 日
项目 可抵扣或应纳税 递延所得税资产或 可抵扣或应纳税 递延所得税资产或
暂时性差异 负债 暂时性差异 负债
递延所得税资产：
可抵扣亏损 60,392,205.64 15,098,051.41 39,998,919.05 9,999,729.76
小计 60,392,205.64 15,098,051.41 39,998,919.05 9,999,729.76
递延所得税负债：
可供出售金融资产公允价
540,658,459.40 135,164,614.85 608,363,312.19 152,090,828.03
值变动
非同一控制下企业合并中
5,849.72 1,462.43 9,979.05 2,494.75
非流动资产公允价值调整
小计 540,664,309.12 135,166,077.28 608,373,291.24 152,093,322.78
(2) 未确认递延所得税资产明细
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
可抵扣亏损 36,739,673.10 25,405,805.16
可抵扣暂时性差异 2,005,854.31 2,105,049.41
合计 38,745,527.41 27,510,854.57
由于未来能否获得足够的应纳税所得额具有不确定性，因此未对以上可抵扣暂时性差异和可抵扣亏损确
认递延所得税资产。
(3) 未确认递延所得税资产的可抵扣亏损将于以下年度到期
人民币元
年份 2017 年 12 月 31 日 2016 年 12 月 31 日
2017 - 838,833.00
2018 5,660,456.15 5,660,456.15
2019 2,856,651.19 2,856,651.19
2020 11,712,589.07 11,712,589.07
2021 13,792,009.16 4,337,275.75
2022 2,717,967.53 -
合计 36,739,673.10 25,405,805.16
第 43 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
16、其他非流动资产
人民币元
项目 2017 年 12 月 31 日
及 2016 年 12 月 31 日
民航保证金 2,100,000.00
其他(注) 866,851.80
合计 2,966,851.80
注：其他系本集团支付给货运行业协会的保证金和高尔夫球场的会员证。
17、应付账款
(1) 应付账款明细如下：
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
旅游业务应付账款 75,872,729.47 82,897,755.17
其他 585,714.77 5,852,469.24
合计 76,458,444.24 88,750,224.41
(2) 本年末无账龄超过 1 年的重要应付账款。
18、预收款项
(1) 预收款项明细如下：
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
旅游业务预收款项 157,007,119.51 168,681,275.38
其他 2,897,307.71 3,482,725.05
合计 159,904,427.22 172,164,000.43
(2) 本年末无账龄超过 1 年的重要预收款项。
第 44 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
19、应付职工薪酬
(1) 应付职工薪酬列示
人民币元
项目 2016 年 12 月 31 日 本年增加 本年减少 2017 年 12 月 31 日
1、短期薪酬 25,752,526.39 122,674,762.87 (125,364,123.70) 23,063,165.56
2、离职后福利-设定提存计划 907,889.69 16,867,337.06 (16,892,703.35) 882,523.40
合计 26,660,416.08 139,542,099.93 (142,256,827.05) 23,945,688.96
(2) 短期薪酬列示
人民币元
项目 2016 年 12 月 31 日 本年增加 本年减少 2017 年 12 月 31 日
1、工资、奖金、津贴和补贴 20,343,579.14 91,760,299.32 (90,032,649.33) 22,071,229.13
2、职工福利费 64,438.00 7,894,557.38 (7,919,207.38) 39,788.00
3、社会保险费 398,041.36 8,935,189.38 (8,953,920.52) 379,310.22
其中：医疗保险费 359,939.45 7,858,610.23 (7,877,192.46) 341,357.22
工伤保险费 9,445.10 277,689.98 (277,619.88) 9,515.20
生育保险费 28,656.81 798,889.17 (799,108.18) 28,437.80
4、住房公积金 - 8,982,388.00 (8,982,035.00) 353.00
5、工会经费和职工教育经费 223,716.39 1,935,244.45 (1,808,255.13) 350,705.71
6、其他 4,722,751.50 3,167,084.34 (7,668,056.34) 221,779.50
合计 25,752,526.39 122,674,762.87 (125,364,123.70) 23,063,165.56
(3) 设定提存计划
人民币元
项目 2016 年 12 月 31 日 本年增加 本年减少 2017 年 12 月 31 日
1、基本养老保险费 860,232.88 16,431,448.61 (16,441,722.69) 849,958.80
2、失业保险费 47,656.81 435,888.45 (450,980.66) 32,564.60
合计 907,889.69 16,867,337.06 (16,892,703.35) 882,523.40
本集团按规定参加由政府机构设立的基本养老保险、失业保险计划。根据基本养老保险计划，本集团分
别按员工上一年度月平均工资的 14%、20%或 21%每月向这些计划缴存费用。根据失业保险计划，本集
团分别按员工上一年度月平均工资的 1%或 1.5%每月向这些计划缴存费用。除上述每月缴存费用外，本
集团不再承担进一步支付义务。相应的支出于发生时计入当期损益或相关资产的成本。
本集团本年度应分别向养老保险、失业保险计划缴存费用人民币 16,431,448.61 元及人民币 435,888.45 元
(2016 年度：人民币 16,378,636.23 元及人民币 862,767.62 元)。于 2017 年 12 月 31 日，本集团尚有人民
币 849,958.80 元及人民币 32,564.60 元(2016 年 12 月 31 日：人民币 860,232.88 元及人民币 47,656.81 元)
的应缴存费用是于本年度到期而未支付给养老保险及失业保险计划的。有关应缴存费用已于年后支付。
第 45 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
20、应交税费
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
所得税 4,561,971.28 8,289,007.69
增值税 1,640,328.26 1,535,304.42
其他 1,728,616.36 2,223,365.02
合计 7,930,915.90 12,047,677.13
21、其他应付款
(1) 按款项性质列示其他应付款：
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
押金 20,796,733.32 20,860,186.90
收到处置代持股票款(注) 12,980,194.41 -
代垫款 3,508,708.88 2,756,541.58
劳务费 493,700.00 1,284,560.76
其他 14,722,405.23 14,893,499.92
合计 52,501,741.84 39,794,789.16
注：于 2017 年 12 月 22 日，本公司根据中国国旅集团有限公司要求，将为其代持的豫园股份股票合计
1,224,389 股予以出售，获得人民币 12,980,194.41 元。
(2) 本年末，账龄超过 1 年的大额其他应付款主要为收取的押金。
22、股本
人民币元
本年变动
2017 年 1 月 1 日 2017 年 12 月 31 日
发行新股 送股 公积金转股 其他 小计
2017 年度：
一、有限售条件股份-国
66,556,270.00 - - - - - 66,556,270.00
有法人持股
二、无限售条件股份-境
66,000,000.00 - - - - - 66,000,000.00
内上市外资股
三、股份总数 132,556,270.00 - - - - - 132,556,270.00
第 46 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
23、资本公积
人民币元
项目 2017 年 1 月 1 日 本年增加 本年减少 2017 年 12 月 31 日
资本溢价-投资者投入的资本 166,391,273.66 - - 166,391,273.66
其他资本公积-原制度资本公积转入 33,557,683.87 - - 33,557,683.87
合计 199,948,957.53 - - 199,948,957.53
24、其他综合收益
人民币元
本年发生额
2017 年 减：前期计入 税后归 2017 年
项目 本年所得税前 减：所得税 税后归属于母
1月1日 其他综合收益 属于少 12 月 31 日
发生额 费用 公司所有者
当期转入损益 数股东
以后将重分类进
损益的其他综合 456,272,484.16 8,914,394.45 (76,619,247.24) 16,926,213.18 (50,778,639.61) - 405,493,844.55
收益
其中：可供出售
金融资产
456,272,484.16 8,914,394.45 (76,619,247.24) 16,926,213.18 (50,778,639.61) - 405,493,844.55
公允价值
变动损益
合计 456,272,484.16 8,914,394.45 (76,619,247.24) 16,926,213.18 (50,778,639.61) - 405,493,844.55
25、盈余公积
人民币元
项目 2017 年 1 月 1 日 本年增加 本年减少 2017 年 12 月 31 日
法定盈余公积 122,952,878.63 - - 122,952,878.63
任意盈余公积 24,845,963.53 - - 24,845,963.53
合计 147,798,842.16 - - 147,798,842.16
根据《中华人民共和国公司法》及本公司章程，本公司按年度母公司净利润的 10%提取法定盈余公积金，
当法定盈余公积金累计额达到股本的 50%时，可不再提取。
本公司法定盈余公积年末余额为人民币 122,952,878.63 元，已达到本公司股本的 50%，故本年度内，本
公司未计提法定盈余公积。
第 47 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
26、未分配利润
人民币元
项目 2017 年度 2016 年度
年初未分配利润 231,282,050.74 200,632,115.64
加：本年归属于母公司所有者的净利润 61,228,732.75 61,137,877.20
减：提取法定盈余公积 - -
应付普通股股利(注 1) 30,753,054.64 30,487,942.10
年末未分配利润(注 2) 261,757,728.85 231,282,050.74
注 1：股东大会已批准的现金股利情况：
于 2017 年 6 月 8 日根据本公司股东大会决议批准，本公司按已发行之股份 132,556,270 股计算，
以每十股向全体股东派发 2016 年度现金股利人民币 2.32 元(含税)，总计分配人民币 30,753,054.64
元。
注 2：资产负债表日后决议的利润分配情况：
于 2018 年 3 月 27 日，本公司董事会提议，按已发行之股份 132,556,270 股计算，拟以每十股向全
体股东派发 2017 年度现金股利人民币 2.34 元(含税)。上述股利分配方案尚待本公司股东大会批准。
27、营业收入、营业成本
(1) 营业收入及营业成本
人民币元
2017 年度 2016 年度
项目
收入 成本 收入 成本
主营业务 1,684,328,122.69 1,565,116,788.03 1,882,277,277.75 1,758,161,105.06
其他业务 25,857,310.05 11,086,251.46 25,253,864.51 9,844,036.72
合计 1,710,185,432.74 1,576,203,039.49 1,907,531,142.26 1,768,005,141.78
第 48 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
27、营业收入、营业成本 - 续
(2) 主营业务(分业务)
人民币元
2017 年度 2016 年度
行业名称
营业收入 营业成本 营业收入 营业成本
旅游及相关业务 1,676,907,848.02 1,559,801,229.89 1,874,612,284.74 1,752,574,747.78
其他业务 7,420,274.67 5,315,558.14 7,664,993.01 5,586,357.28
合计 1,684,328,122.69 1,565,116,788.03 1,882,277,277.75 1,758,161,105.06
(3) 主营业务(分地区)
人民币元
2017 年度 2016 年度
地区名称
营业收入 营业成本 营业收入 营业成本
中国大陆地区 1,541,125,375.91 1,437,061,444.16 1,774,583,252.90 1,666,514,578.63
除中国大陆外其他地区 143,202,746.78 128,055,343.87 107,694,024.85 91,646,526.43
合计 1,684,328,122.69 1,565,116,788.03 1,882,277,277.75 1,758,161,105.06
(4) 其他业务
人民币元
2017 年度 2016 年度
行业名称
营业收入 营业成本 营业收入 营业成本
房屋租赁 16,003,534.67 5,246,779.24 15,885,589.19 4,890,729.81
物业服务 9,853,775.38 5,839,472.22 9,368,275.32 4,953,306.91
合计 25,857,310.05 11,086,251.46 25,253,864.51 9,844,036.72
28、税金及附加
人民币元
项目 2017 年度 2016 年度
房产税 2,130,058.44 2,438,384.29
城市维护建设税 1,336,089.86 1,034,607.49
教育费附加 913,592.63 834,920.08
其他 114,626.75 165,497.24
营业税 - 2,396,550.11
合计 4,494,367.68 6,869,959.21
29、销售费用
人民币元
项目 2017 年度 2016 年度
职工薪酬 98,707,457.07 99,634,709.08
经营租赁费用 5,084,435.48 3,946,490.08
劳务费 2,473,128.57 6,019,084.07
广告费 6,217,921.33 5,766,626.60
其他 7,803,316.96 8,648,489.02
合计 120,286,259.41 124,015,398.85
第 49 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
30、管理费用
人民币元
项目 2017 年度 2016 年度
职工薪酬 38,361,514.29 39,715,956.20
折旧与摊销 4,871,067.15 5,808,792.85
能源费及物料消耗 2,143,431.17 2,477,258.09
业务招待费 142,549.04 425,566.07
其他 8,173,203.51 10,937,715.68
合计 53,691,765.16 59,365,288.89
31、财务费用
人民币元
项目 2017 年度 2016 年度
利息收入 (8,655,944.18) (9,413,482.50)
汇兑差额 1,557,141.49 2,276,227.34
其他 2,572,175.57 2,809,799.93
合计 (4,526,627.12) (4,327,455.23)
32、资产减值损失(转回)
人民币元
项目 2017 年度 2016 年度
坏账损失(转回) (99,195.10) (1,513,121.69)
33、 投资收益
(1) 投资收益明细情况
人民币元
项目 2017 年度 2016 年度
权益法核算的长期股权投资收益 4,024,548.63 7,375,865.40
处置长期股权投资产生的投资收益 2,739,009.89 -
持有可供出售金融资产等期间取得的投资收益 27,797,885.24 24,359,796.55
处置以公允价值计量且其变动计入当期损益的金融
632,485.99 -
资产取得的投资收益
处置可供出售金融资产等取得的投资收益 76,619,247.24 79,026,886.95
转融券业务取得的收益 39,376.71 -
合计 111,852,553.70 110,762,548.90
第 50 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
33、投资收益 - 续
(2) 按权益法核算的长期股权投资收益：
人民币元
被投资单位 2017 年度 2016 年度
上海锦江商旅汽车服务股份有限公司 6,216,028.90 5,766,685.02
上海浦江游览有限公司 639,300.49 1,723,174.27
上海东方航空国际旅游运输有限公司 4,557.38 7,452.47
上海外航国际旅行社有限公司 (2,729,460.37) 67,197.67
上海一日旅行社有限公司 (120,858.08) (202,974.97)
上海聚星物业管理有限公司 14,980.31 14,330.94
合计 4,024,548.63 7,375,865.40
本集团的投资收益汇回不存在重大限制。
(3) 持有可供出售金融资产期间取得的投资收益
人民币元
可供出售金融资产名称 股票代码 2017 年度 2016 年度
浦发银行 600000 4,617,195.00 13,757,979.35
交通银行 601328 21,720,003.26 8,274,825.00
豫园股份 600655 1,195,483.00 2,032,321.10
申万宏源 000166 218,622.50 242,913.90
其他 46,581.48 51,757.20
合计 27,797,885.24 24,359,796.55
注：本报告期内，浦发银行向全体股东每 10 股派发现金股利人民币 2 元，每 10 股转增 3 股(2016 年度人
民币 5.15 元，每 10 股转增 1 股)；交通银行向全体股东每 10 股派发现金股利人民币 2.715 元(2016
年度人民币 2.70 元)；豫园股份向全体股东每 10 股派发现金股利人民币 1.00 元(2016 年度人民币 1.70
元)；申万宏源向全体股东每 10 股派发现金股利人民币 1.00 元（2016 年度人民币 1.50 元，每 10 股
转增 3.5 股）。
第 51 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
33、投资收益 - 续
(4) 处置可供出售金融资产等取得的投资收益
人民币元
可供出售金 2017 年度 2016 年度
股票代码
融资产名称 出售股数 处置收益 出售股数 处置收益
浦发银行 600000 6,811,768 72,785,442.54 6,000,000 79,026,886.95
豫园股份 600655 401,658 3,833,804.70 - -
合计 76,619,247.24 79,026,886.95
34、其他收益
人民币元
计入本年非经常性损
项目 2017 年度 2016 年度
益的金额
政府补助 2,457,109.41 - 2,457,109.41
合计 2,457,109.41 - 2,457,109.41
35、营业外收入
(1) 营业外收入明细如下：
人民币元
计入本年非经常性损
项目 2017 年度 2016 年度
益的金额
政府补助 1,800,000.00 6,902,884.60 1,800,000.00
其他 49,672.45 832,477.53 49,672.45
合计 1,849,672.45 7,735,362.13 1,849,672.45
(2) 计入当期的损益政府补助明细
人民币元
与资产相关/
补助项目 2017 年度 2016 年度
与收益相关
财政扶持资金 1,800,000.00 6,572,560.00 关
与收益相关
其他 - 330,324.60 与收益相关
合计 1,800,000.00 6,902,884.60
第 52 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
36、所得税费用
人民币元
项目 2017 年度 2016 年度
当期所得税费用 19,260,227.33 17,193,605.14
递延所得税费用 (5,099,353.97) (4,419,024.95)
以前年度汇算清缴差异 (325,742.30) (372,192.96)
合计 13,835,131.06 12,402,387.23
所得税费用与会计利润的调节表如下：
人民币元
2017 年度 2016 年度
会计利润 76,190,923.49 73,439,356.33
按 25%的税率计算的所得税费用 19,047,730.88 18,359,839.08
不可抵扣费用的纳税影响 72,749.78 28,669.39
免税收入的纳税影响 (7,958,265.24) (7,933,915.50)
未确认可抵扣亏损和可抵扣暂时性差异的纳税影响 3,018,376.46 2,323,696.26
子公司税率不一致的影响 (19,718.52) (3,709.04)
以前年度汇算清缴差异 (325,742.30) (372,192.96)
合计 13,835,131.06 12,402,387.23
第 53 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
37、现金流量表项目注释
(1) 收到其他与经营活动有关的现金
人民币元
项目 2017 年度 2016 年度
保函保证金的减少(注) 14,100,000.00 -
收到的政府补贴 4,257,109.41 6,902,884.60
利息收入 8,655,944.18 2,808,092.09
其他受限制货币资金的减少 241,373.60 1,400,000.00
其他 14,692,262.37 9,632,477.53
合计 41,946,689.56 20,743,454.22
(2) 支付其他与经营活动有关的现金
人民币元
项目 2017 年度 2016 年度
营业费用及管理费用中的支付额 23,080,462.24 21,507,681.05
保函保证金的增加(注) 7,100,000.00 14,100,000.00
支付的银行手续费 2,572,175.57 2,809,799.93
其他受限制货币资金的增加 - 202,400.00
其他 1,751,244.57 3,801,765.79
合计 34,503,882.38 42,421,646.77
注：本集团为上海迪士尼度假区旅游业界合作伙伴。根据相关合作要求，本集团需于中国工商银行外滩
支行质押定期存款，以分别向上海国际主题乐园有限公司、上海国际主题乐园配套设施有限公司开
具保函。于 2017 年 4 月 25 日，本集团于中国工商银行外滩支行质押定期存款，金额合计人民币
7,100,000.00 元。于 2017 年 5 月 31 日，本集团自 2016 年 5 月 31 日质押的定期存款合计人民币
14,100,000.00 元质押期满并收回。
第 54 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
38、现金流量表补充资料
(1) 现金流量表补充资料
人民币元
补充资料 2017 年度 2016 年度
1．将净利润调节为经营活动现金流量：
净利润 62,355,792.43 61,036,969.10
加: 计提(转回)资产减值准备 (99,195.10) (1,513,121.69)
固定资产及投资性房地产折旧 9,896,443.07 10,189,364.43
无形资产摊销 579,625.09 558,874.95
长期待摊费用摊销 879,394.24 868,766.65
处置固定资产、无形资产和其他长期资产的损失
(175,077.50) (297,373.88)
(收益)
固定资产报废损失(收益) 95,836.79 74,980.49
公允价值变动损失(收益) (10,627.08) -
财务费用 - (6,605,390.41)
投资损失(收益) (111,852,553.70) (110,762,548.90)
递延所得税资产减少(增加) (5,098,321.65) (4,417,992.63)
递延所得税负债增加(减少) (1,032.32) (1,032.32)
存货的减少(增加) 50,407.26 7,803.75
经营性应收项目的减少(增加) (11,620,481.73) (8,332,939.01)
经营性应付项目的增加(减少) (5,678,401.39) 7,293,672.74
受限制货币资金的减少(增加) 7,241,373.60 (12,902,400.00)
经营活动产生的现金流量净额 (53,436,817.99) (64,802,366.73)
2．不涉及现金收支的重大投资和筹资活动：
3．现金及现金等价物净变动情况：
现金及现金等价物的年末余额 212,570,841.14 216,596,205.61
减: 现金及现金等价物的年初余额 216,596,205.61 284,953,830.78
现金及现金等价物净增加(减少)额 (4,025,364.47) (68,357,625.17)
(2) 现金和现金等价物的构成
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
一、现金 157,570,841.14 216,596,205.61
其中：库存现金 193,137.53 162,223.52
可随时用于支付的银行存款 155,295,730.57 215,946,821.47
可随时用于支付的其他货币资金 2,081,973.04 487,160.62
二、现金等价物 55,000,000.00 -
三、年末现金及现金等价物余额 212,570,841.14 216,596,205.61
39、所有权或使用权受到限制的资产
人民币元
项目 年末账面价值 受限原因
货币资金(附注(六)1(注)、附注(六)37(注)) 7,100,000.00 质押
可供出售金融资产(附注(六)7(2)) 1,428,300.00 用于转融券业务
合计 8,528,300.00
第 55 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(六) 合并财务报表项目注释 - 续
40、外币货币性项目
(1) 外币货币性项目
项目 年末外币余额 折算汇率 年末折算人民币余额
货币资金
其中: 美元 1,766,110.47 6.5342 11,540,119.02
欧元 167,338.88 7.8023 1,305,628.12
日元 6,996,727.69 0.057883 404,991.59
澳大利亚元 24,724.72 5.0928 125,918.05
应收账款
其中: 美元 3,087,479.91 6.5342 20,174,211.25
应付账款
其中: 欧元 822,399.54 7.8023 6,416,607.97
日元 72,891,322.21 0.057883 4,219,168.40
港元 325,242.78 0.8359 271,870.44
美元 16,652.05 6.5342 108,807.86
澳大利亚元 4,968.77 5.0928 25,304.95
新西兰元 234,521.44 4.6327 1,086,467.48
(2) 本集团无境外经营实体。
第 56 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(七) 在其他主体中的权益
1、在子公司中的权益
企业集团的构成(注 1)
主要 持股比例(%)
序 业务
子公司名称 经营 注册地 取得方式
号 性质 直接 间接
地
1 上海国旅国际旅行社有限公司(“上海国旅”) 中国 上海市静安区北京西路 1277 号 7、8 楼 服务 90.00 10.00 通过设立或投资等方式取得
2 上海国之旅物业管理有限公司 中国 上海市静安区北京西路 1277 号 101 室底楼夹层 服务 90.00 10.00 通过设立或投资等方式取得
3 上海国之旅国际货运代理有限公司 中国 上海市浦东新区杨高南路 889 号 215 室 服务 90.00 10.00 通过设立或投资等方式取得
4 上海国之旅导游服务有限公司 中国 上海市静安区北京西路 1277 号 601 室 服务 68.00 32.00 通过设立或投资等方式取得
5 上海国旅广告有限公司 中国 上海市闵行区古美路 457 号二层 205 室 服务 100.00 - 通过设立或投资等方式取得
6 上海锦江国际绿色假期旅游有限公司(“绿色假期”) 中国 上海市金山区廊下镇漕廊公路 9188 号 服务 70.00 - 通过设立或投资等方式取得
7 浙江锦旅国际旅行社有限公司(“浙江锦旅”) 中国 杭州市江干区秋涛北路 77 号 10 楼 19 室 服务 90.00 10.00 通过设立或投资等方式取得
8 上海锦江旅游控股有限公司(“锦旅控股”) 中国 上海市黄浦区长乐路 191 号 服务 90.00 10.00 同一控制下企业合并取得的子公司
50.00
9 上海锦江国际会展有限公司 中国 上海市黄浦区长乐路 191 号 4 幢 209 室 服务 - 通过设立或投资等方式取得
(注 2)
10 上海旅行社有限公司 中国 上海市黄浦区福州路 739 号 服务 98.00 2.00 同一控制下企业合并取得的子公司
11 上海华亭海外旅游有限公司 中国 上海市黄浦区茂名南路 58-3 号 610 室 服务 90.00 10.00 同一控制下企业合并取得的子公司
12 上海锦江出入境服务有限公司 中国 上海市长乐路 191 号 服务 90.00 10.00 同一控制下企业合并取得的子公司
13 北京锦江国际旅行社有限公司(“北京锦旅”) 中国 北京市朝阳区建国路 89 号院 15 号楼 1502 号 服务 80.00 - 同一控制下企业合并取得的子公司
注 1：以上对企业集团构成的披露包含本集团的全部子公司，包括一级子公司 12 家，二级子公司 1 家。本集团的非全资子公司均不重要。
注 2：根据该公司章程规定，本集团享有表决权比例超过半数，对该公司实现控制。
第 57 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(七) 在其他主体中的权益 - 续
2、在联营企业中的权益
(1) 重要的联营企业
主要经 持股比例(%) 对联营企业投资的会
联营企业名称 注册地 业务性质
营地 直接 间接 计处理方法
上海锦江商旅汽车服务股份有限公司(“锦江商旅”) 中国 上海市浦东新区龙东大道 6111 号 1 幢 493 室 旅游及相关服务 20.00 - 权益法
上海外航国际旅行社有限公司(“外航国际”) 中国 上海市浦东新区浦东大道 2123 号 3E－2165 旅游及相关服务 30.00 - 权益法
(2) 重要联营企业的主要财务信息
人民币元
2017 年 12 月 31 日/2017 年度 2016 年 12 月 31 日/2016 年度
锦江商旅 外航国际 锦江商旅 浦江游览 外航国际
流动资产 130,817,966.36 8,632,066.51 90,102,085.19 16,893,924.39 22,787,025.21
非流动资产 250,754,622.02 902,746.70 294,104,535.51 88,643,737.74 1,562,846.51
资产合计 381,572,588.38 9,534,813.21 384,206,620.70 105,537,662.13 24,349,871.72
流动负债 65,303,963.68 6,766,904.12 89,242,490.48 52,533,255.37 12,483,761.38
非流动负债 - - 9,775,650.00 - -
负债合计 65,303,963.68 6,766,904.12 99,018,140.48 52,533,255.37 12,483,761.38
少数股东权益 - - - - -
归属于母公司股东权益 316,268,624.70 2,767,909.09 285,188,480.22 53,004,406.76 11,866,110.34
按持股比例计算的净资产份额 63,253,724.94 830,372.73 57,037,696.04 10,600,881.35 3,559,833.10
对联营企业权益投资的账面价值 63,253,724.94 830,372.73 57,037,696.04 10,600,881.35 3,559,833.10
营业收入 319,605,326.70 72,121,900.82 312,444,376.98 62,814,058.20 108,780,768.39
净利润 31,080,144.48 (9,098,201.25) 28,833,425.09 1,857,133.28 223,992.24
其他综合收益 - - - - -
综合收益总额 31,080,144.48 (9,098,201.25) 28,833,425.09 1,857,133.28 223,992.24
本年收到的来自联营企业的股利 - - - - 150,000.00
第 58 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(七) 在其他主体中的权益 - 续
2、在联营企业中的权益 - 续
(3) 不重要的联营企业的汇总财务信息
人民币元
2017 年 12 月 31 日/2017 年度 2016 年 12 月 31 日/2016 年度
联营企业
投资账面价值合计 1,318,787.42 1,420,107.81
下列各项按持股比例计算的合计数
--净利润(亏损) (167,581.02) (181,191.56)
--其他综合收益 - -
--综合收益(损失)总额 (167,581.02) (181,191.56)
(4) 联营企业向本集团转移资金的能力不存在重大限制。
(5) 联营企业发生的超额亏损
人民币元
累积未确认的前期累 本年未确认的损失 本年末累积未确认
联营企业名称
计损失 的损失
上海一日旅行社有限公司 - (66,260.63) (66,260.63)
合计 - (66,260.63) (66,260.63)
(6) 不存在与联营企业投资相关的或有负债。
(八) 金融工具、风险管理及资本管理
本集团的主要金融工具包括货币资金、应收账款、其他应收款、可供出售金融资产、应付账款及其他应
付款等，各项金融工具的详细情况说明见附注(六)。与这些金融工具有关的风险，以及本集团为降低这些
风险所采取的风险管理政策如下所述。本集团管理层对这些风险敞口进行管理和监控以确保将上述风险
控制在限定的范围之内。
1、风险管理目标和政策
本集团从事风险管理的目标是在风险和收益之间取得适当的平衡，将风险对本集团经营业绩的负面影响
降低到最低水平，使股东及其其他权益投资者的利益最大化。基于该风险管理目标，本集团风险管理的
基本策略是确定和分析本集团所面临的各种风险，建立适当的风险承受底线和进行风险管理，并及时可
靠地对各种风险进行监督，将风险控制在限定的范围之内。
第 59 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(八) 金融工具、风险管理及资本管理 - 续
1、风险管理目标和政策 - 续
1.1 市场风险
1.1.1 外汇风险
外汇风险指因汇率变动产生损失的风险。本集团承受外汇风险主要与美元、欧元、日元、澳大利亚元和
港元有关，本集团的主要业务活动以人民币计价结算。于 2017 年 12 月 31 日，外币资产和负债主要集中
在货币资金、应收账款及应付账款。这些外币余额的资产和负债产生的外汇风险可能对本集团的经营业
绩产生影响。本集团密切关注汇率变动对本集团外汇风险的影响。本集团目前并未采取任何措施规避外
汇风险。
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
货币资金 13,376,656.78 9,269,809.85
应收账款 20,174,211.25 9,966,072.43
应付账款 11,041,759.62 25,580,118.26
外汇风险敏感性分析
在其他变量不变的情况下，汇率可能发生的合理变动对当期损益和股东权益的影响如下：
人民币元
2017 年度 2016 年度
项目 汇率变动
对利润的影响 对股东权益的影响 对利润的影响 对股东权益的影响
所有外币 对人民币升值 10% (1,606,698.07) (1,606,698.07) (634,423.60) (634,423.60)
所有外币 对人民币贬值 10% 1,606,698.07 1,606,698.07 634,423.60 634,423.60
1.1.2 利率风险
利率风险，是指金融工具的公允价值或未来现金流量因市场利率变动而发生波动的风险。于 2017 年 12
月 31 日，本集团面临的利率风险主要来源于货币资金。本集团认为目前的利率风险对于集团的经营影响
不重大。
1.1.3 其他价格风险
其他价格风险，是指外汇风险和利率风险以外的市场风险。本集团面临的主要其他价格风险包括可供出
售权益工具的公允价值因证券价值的变化而波动的风险。于 2017 年 12 月 31 日，本集团的可供出售权
益工具详见附注(六)7。这些以公允价值计价的资产的其他价格风险可能对本集团的经营业绩和股东权益
产生影响。本集团密切关注证券价格变动对本集团其他价格风险的影响。本集团对证券价值风险进行了
如下敏感性分析，本集团认为目前的证券价值风险对于本集团的经营影响重大。
本集团因持有以公允价值计量的金融资产而面临价格风险。于 2017 年 12 月 31 日，本集团持有以公允
价值计量的金融资产 947,371,107.05 元。在其他变量不变的情况下，根据证券价值可能发生的合理变动，
有关权益工具价格上升(下降)10%，将会导致本集团股东权益增加(减少)人民币 71,052,833.03 元，对净利
润无影响。
第 60 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(八) 金融工具、风险管理及资本管理 - 续
1、风险管理目标和政策 - 续
1.2 信用风险
于本年末，可能引起本集团财务损失之最大信用风险敞口主要来自于合同另一方未能履行义务而导致本
集团金融资产产生之损失，具体为合并资产负债表中已确认之金融资产的账面金额。
为降低信用风险，本公司及各子公司均由专人负责确定信用额度、进行信用审批，并执行其他监控程序
以确保采取必要之措施回收过期债权。此外，本集团于每个资产负债表日审核每一单项应收款之回收情
况，以确保就无法回收之款项计提充分的坏账准备。因此，本集团管理层认为本集团所承担的信用风险
已经大为降低。本集团采用了必要的政策确保所有销售客户均具有良好的信用记录，因此本集团管理层
认为本集团除附注(六)2(3)中披露的应收账款金额前五名单位与附注(六)4(3)中披露的其他应收款中的电
商销售平台代收经营款外，无其他信用集中风险。
本集团的流动资金存放在信用评级较高的银行，故流动资金的信用风险较低。
1.3 流动风险
流动风险是指企业在履行与金融负债有关的义务时遇到资金短缺的风险。管理流动风险时，本集团保持
管理层认为充分的现金及现金等价物并对其进行监控，以满足本集团经营需要，并降低现金流量波动的
影响。
本集团将自有资金作为唯一资金来源，本集团未持有银行借款，金融负债到期期限约在 1-3 个月。鉴于
较低的资本负债率以及持续的融资能力，本集团管理层相信本集团不存在重大流动性风险。
2、金融资产转移
本年度内，本集团通过中国证券金融股份有限公司平台进行融券业务，累计融出浦发银行股票 2,258,400
股、交通银行股票 797,500 股，于 2017 年 12 月 31 日，除 230,000 股交通银行股票仍用于融券业务外，
其余用于融券业务的股票均已收回。由于本集团仍然承担了与融出股票相关的公允价值变动风险，在融
券期间，本集团继续全额确认可供出售金融资产的账面金额。
3、资本管理
本集团通过优化负债与股东权益的结构来管理资本，以确保集团内的主体能够持续经营，并同时最大限
度增加股东回报。本集团并未受制于外部强制性资本管理要求。本集团无借款经营计划。
第 61 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(九) 公允价值的披露
1、以公允价值计量的资产和负债的年末公允价值
人民币元
2017 年 12 月 31 日
第一层次公允 第二层次公允价 第三层次公允价
合计
价值计量 值计量 值计量
持续的公允价值计量
(一)以公允价值计量且其变动计入当
31,071.96 - - 31,071.96
期损益的金融资产
交易性金融资产
31,071.96 - - 31,071.96
-权益工具投资
(二)可供出售金融资产 947,371,170.05 947,371,170.05
-权益工具投资 947,371,170.05 - - 947,371,170.05
持续以公允价值计量的资产总额 947,402,242.01 - - 947,402,242.01
2、持续和非持续第一层次公允价值计量项目市价的确定依据
本年末公允价值参考上海证券交易所和深圳证券交易所 2017 年 12 月 31 日的收盘价确定。
3、不以公允价值计量的金融资产与金融负债的公允价值信息
本集团不以公允价值计量的金融资产与金融负债主要系流动资产及流动负债，其账面价值接近公允价值。
第 62 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十) 关联方及关联交易
1、本公司的控股公司情况
对本企业的 对本企业的
公司名称 注册地 业务性质 注册资本
持股比例(%) 表决权比例(%)
酒店投资、酒
上海锦江国际酒店
上海市浦东新区杨新东路 24 号 316-318 室 店经营和管理 人民币 556,600 万元 50.21 50.21
(集团)股份有限公司
及其他
本公司的母公司情况的说明
上海锦江国际酒店(集团)股份有限公司(“锦江酒店集团”)是一家在中华人民共和国境内由上海新亚(集团)有限公司改制而成的股份有限公司，成立于 1995 年
6 月 6 日，主要从事酒店、食品等业务。2006 年 12 月 15 日公司股票获准在香港联合交易所有限公司挂牌交易。其母公司及最终控股股东均为锦江国际。
本公司的最终控股方为锦江国际(集团)有限公司(“锦江国际”)。
第 63 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十) 关联方及关联交易 - 续
2、本公司的子公司情况
子公司的基本情况及相关信息参见附注(七)1。
3、本集团的联营企业情况
本集团无合营企业。本集团的联营企业的基本情况及相关信息参见附注(七)2。
4、本集团的其他关联方情况
其他关联方名称 与本公司关系
上海锦江国际 HRG 商务旅行有限公司 最终控股方的联营企业
上海中旅国际旅行社有限公司 最终控股方的合营企业
上海中旅杨休国际旅行社有限公司 同一最终控股方
上海锦江国际电子商务有限公司 同一最终控股方
锦江国际商务有限公司 同一最终控股方
锦江国际旅游中心有限公司 同一最终控股方
上海锦江乐园有限公司 同一最终控股方
上海新亚(集团)摄影公司 同一最终控股方
上海东锦江大酒店有限公司 同一最终控股方
上海华亭宾馆有限公司 同一最终控股方
上海和平饭店有限公司 同一母公司
锦江国际集团财务有限责任公司 同一母公司
上海市上海宾馆有限公司 同一母公司
上海海仑宾馆有限公司 同一母公司
上海虹桥宾馆有限公司 同一母公司
上海建国宾馆有限公司 同一母公司
上海锦江饭店有限公司 同一母公司
上海锦江金门大酒店有限公司 同一母公司
上海龙柏饭店有限公司 同一母公司
上海锦江国际饭店有限公司 同一母公司
上海锦江国际实业投资股份有限公司 同一母公司
上海锦江汽车服务有限公司 同一母公司
上海锦江商旅汽车服务股份有限公司 同一母公司
上海锦佳汽车贸易有限公司 同一母公司
锦江之星旅馆有限公司 同一母公司
上海锦江都城酒店管理有限公司 同一母公司
维也纳酒店有限公司 同一母公司
Keystone Lodging Holdings Limited 同一母公司
上海聚星物业管理有限公司 本公司的联营企业
上海一日旅行社有限公司 本公司的联营企业
上海申迪(集团)有限公司及其下属企业 本公司的关联自然人担任董事的企业
公司董事和其他高级管理人员 关键管理人员
以下将锦江国际、上述最终控股方的联营企业、最终控股方的合营企业和同一最终控股方的公司统称为
“锦江国际及其下属企业”，将锦江酒店集团和同一母公司的公司统称为“锦江酒店集团及其下属企业”，
将上海申迪(集团)有限公司及其下属企业简称为“申迪集团及其下属企业”。
第 64 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十) 关联方及关联交易 - 续
5、关联交易情况
(1) 接受和提供劳务以及购销商品
接受劳务情况如下：
人民币元
2017 年度 2016 年度
关联方 关联交易内容
金额 金额
锦江国际及其下属企业 接受旅游相关服务 16,726,730.08 10,827,127.55
申迪集团及其下属企业 接受旅游相关服务 16,539,939.00 -
锦江酒店集团及其下属企业 接受旅游相关服务 5,782,110.27 2,384,163.27
本公司的联营企业 接受旅游相关服务 34,425.10 109,917.00
小计 39,083,204.45 13,321,207.82
本公司的联营企业 接受物业管理服务 759,751.35 684,576.67
小计 759,751.35 684,576.67
合计 39,842,955.80 14,005,784.49
提供劳务情况如下：
人民币元
2017 年度 2016 年度
关联方 关联交易内容
金额 金额
锦江国际及其下属企业 提供旅游相关服务 2,092,931.25 13,447,469.86
锦江酒店集团及其下属企业 提供旅游相关服务 2,733,519.72 237,733.91
本公司的联营企业 提供旅游相关服务 116,378.38 177,395.83
小计 4,942,829.35 13,862,599.60
锦江国际及其下属企业 提供物业管理等服务 1,887,534.00 1,856,304.00
小计 1,887,534.00 1,856,304.00
合计 6,830,363.35 15,718,903.60
采购商品情况如下：
人民币元
2017 年度 2016 年度
关联方 关联交易内容
金额 金额
锦江酒店集团及其下属企业 采购固定资产 632,493.13 -
本公司的联营企业 采购固定资产 29,300.00 -
合计 661,793.13 -
第 65 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(2) 关联租赁情况
本集团作为出租方：
人民币元
本年度确认的 上年度确认的
承租方名称 租赁资产种类 租赁起始日 租赁终止日
租赁收入 租赁收入
锦江国际及其下 办公场所 2017 年 1 月 1 日 2017 年 12 月 31 日 1,066,260.00 1,066,260.00
属企业
本集团作为承租方：
人民币元
本年度确认的 上年度确认的
出租方名称 租赁资产种类 租赁起始日 租赁终止日
租赁费 租赁费
锦江国际及其 办公场所 2017 年 1 月 1 日 2017 年 12 月 31 日 372,101.36 5,934,460.53
下属企业
锦江酒店集团 办公场所 2017 年 1 月 1 日 2017 年 12 月 31 日 4,727,955.78 1,039,823.21
及其下属企业
合计 5,100,057.14 6,974,283.74
第 66 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(3) 关键管理人员报酬
人民币元
项目名称 2017 年度 2016 年度
关键管理人员报酬 1,729,600.00 2,574,500.00
注：关键管理人员指有权利并负责进行计划、指挥和控制企业活动的人员。包括总经理、财务总监、主
管各项事务的副总经理，以及行使类似政策职能的人员。支付给关键管理人员的报酬包括采用货币、
实物形式和其他形式的工资、福利、奖金、特殊待遇等。
6、应收应付款项
(1) 应收关联方款项
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
项目名称 关联方
账面余额 坏账准备 账面余额 坏账准备
应收账款 锦江国际及其下属企业 732,514.35 - 6,900,011.28 -
应收账款 锦江酒店集团及其下属企业 36,849.00 - 146,520.00 -
应收账款 本公司的联营企业 123,360.00 - 66,605.70 -
小计 892,723.35 - 7,113,136.98 -
其他应收款 锦江国际及其下属企业 7,817,776.90 - 456,757.00 -
其他应收款 锦江酒店集团及其下属企业 194,566.25 - 306,330.00 -
其他应收款 本公司的联营企业 150,310.00
- - 126,388.28 -
小计 8,012,343.15 - 889,475.28 -
预付款项 锦江国际及其下属企业 - - 35,220.00 -
预付款项 锦江酒店集团及其下属企业 - - 100,000.00 -
小计 - - 135,220.00 -
第 67 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十) 关联方及关联交易 - 续
6、应收应付款项 - 续
(2) 应付关联方款项
人民币元
项目名称 关联方 2017 年 12 月 31 日 2016 年 12 月 31 日
应付账款 锦江国际及其下属企业 972,457.58 1,217,349.42
应付账款 锦江酒店集团及其下属企业 1,658,205.46 523,722.26
应付账款 本公司的联营企业 6,000.00 31,200.00
小计 2,636,663.04 1,772,271.68
其他应付款 锦江国际及其下属企业 3,779,946.43 3,985,496.43
其他应付款 本公司的联营企业 16,445.90 -
小计 3,796,392.33 3,985,496.43
预收款项 锦江国际及其下属企业 40,054.00 260,811.00
预收款项 锦江酒店集团及其下属企业 - 596.00
小计 40,054.00 261,407.00
(十一) 或有事项
截至本年末，本集团不存在需要披露的重大或有事项。
(十二) 承诺事项
(1) 资本承诺
人民币千元
2017 年 12 月 31 日 2016 年 12 月 31 日
已签约但尚未于财务报表中确认的
- 购建长期资产承诺 3,253 398
(2) 经营租赁承诺
至资产负债表日止，本集团对外签订的不可撤销的经营租赁合约情况如下：
人民币千元
2017 年 12 月 31 日 2016 年 12 月 31 日
不可撤销经营租赁的最低租赁付款额：
资产负债表日后第 1 年 1,620 4,865
资产负债表日后第 2 年 432 537
资产负债表日后第 3 年 256 256
以后年度 141 397
合计 2,449 6,055
(十三) 资产负债表日后事项
资产负债表日后利润分配情况详见附注(六)26 注 2。除此之外，本集团并无重大的资产负债表日后事项。
第 68 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十四) 分部报告
1、分部报告信息
根据本集团的内部组织结构、管理要求及内部报告制度，本集团的经营业务划分为 3 个经营分部，本集团的管理层定期评价这些分部的经营成果，以决定向其
分配资源及评价其业绩。在经营分部的基础上本集团确定了 3 个经营分部，分别为旅游及相关业务分部、房产业务分部和其他业务分部。这些报告分部是以公
司内部管理报告制度为基础确定的。
分部报告信息根据各分部向管理层报告时采用的会计政策及计量标准披露，这些计量基础与编制财务报表时的会计与计量基础保持一致。
人民币元
旅游及相关业务 房产业务 其他业务 分部间相互抵减 不分配项目 合计
2017 年度 2016 年度 2017 年度 2016 年度 2017 年度 2016 年度 2017 年度 2016 年度 2017 年度 2016 年度 2017 年度 2016 年度
营业收入
对外交易收入 1,676,907,848.02 1,874,612,284.74 25,857,310.05 25,253,864.51 7,420,274.67 7,664,993.01 - - - - 1,710,185,432.74 1,907,531,142.26
分部间交易收入 71,065.97 128,215.03 703,162.35 372,038.50 8,743.40 25,940.00 (782,971.72) (526,193.53) - - - -
分部营业收入合计 1,676,978,913.99 1,874,740,499.77 26,560,472.40 25,625,903.01 7,429,018.07 7,690,933.01 (782,971.72) (526,193.53) - - 1,710,185,432.74 1,907,531,142.26
营业成本 1,559,801,229.89 1,752,574,747.78 11,086,251.46 9,844,036.72 5,315,558.14 5,586,357.28 - - - - 1,576,203,039.49 1,768,005,141.78
分部营业利润 117,177,684.10 122,165,751.99 15,474,220.94 15,781,866.29 2,113,459.93 2,104,575.73 (782,971.72) (526,193.53) - - 133,982,393.25 139,526,000.48
税金及附加 4,494,367.68 6,869,959.21 4,494,367.68 6,869,959.21
销售费用 120,286,259.41 124,015,398.85 120,286,259.41 124,015,398.85
管理费用 53,691,765.16 59,365,288.89 53,691,765.16 59,365,288.89
财务费用 (4,526,627.12) (4,327,455.23) (4,526,627.12) (4,327,455.23)
资产减值损失(转回) (99,195.10) (1,513,121.69) (99,195.10) (1,513,121.69)
公允价值变动损益 (10,627.08) - (10,627.08) -
投资收益 111,852,553.70 110,762,548.90 111,852,553.70 110,762,548.90
资产处置收益 175,077.50 297,373.88 175,077.50 297,373.88
其他收益 2,457,109.41 - 2,457,109.41 -
营业利润 74,631,190.91 66,175,853.23 74,631,190.91 66,175,853.23
营业外收入 1,849,672.45 7,735,362.13 1,849,672.45 7,735,362.13
营业外支出 289,939.87 471,859.03 289,939.87 471,859.03
利润总额 76,190,923.49 73,439,356.33 76,190,923.49 73,439,356.33
所得税 13,835,131.06 12,402,387.23 13,835,131.06 12,402,387.23
净利润 62,355,792.43 61,036,969.10 62,355,792.43 61,036,969.10
补充资料：
当期确认(转回)的减值损
(99,195.10) (1,513,121.69) - - - - - - - - (99,195.10) (1,513,121.69)
失
资本性支出：
在建工程支出 5,266,612.07 559,136.37 - - - - - - - - 5,266,612.07 559,136.37
购置固定资产支出 1,019,322.09 250,491.26 - - - - - - - - 1,019,322.09 250,491.26
第 69 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十四) 分部报告 - 续
2、分部按产品或业务划分的对外交易收入
人民币元
项目 2017 年度 2016 年度
旅游及相关业务 1,676,907,848.02 1,874,612,284.74
房产业务 25,857,310.05 25,253,864.51
其他业务 7,420,274.67 7,664,993.01
合计 1,710,185,432.74 1,907,531,142.26
3、按收入来源地划分的对外交易收入和资产所在地划分的非流动资产
人民币元
项目 2017 年度 2016 年度
来源于中国大陆的对外交易收入 1,566,982,685.96 1,799,837,117.41
来源于中国大陆外的对外交易收入 143,202,746.78 107,694,024.85
合计 1,710,185,432.74 1,907,531,142.26
本集团的非流动资产均位于中国大陆。
4、对主要客户的依赖程度
不存在占收入 10%以上的主要客户。
分部间转移交易以实际交易价格为基础计量。分部收入和分部成本按各分部的实际收入和成本确定。分
部资产或负债按经营分部日常活动中使用的可归属于该经营分部的资产或产生的可归属于该经营分部的
负债分配。
(十五) 公司财务报表主要项目注释
1、货币资金
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
项目
外币金额 折算率 人民币金额 外币金额 折算率 人民币金额
现金： 5,148.36 10,681.43
人民币 5,148.36 10,681.43
银行存款： 79,072,281.95 126,042,291.61
人民币 78,578,297.87 125,616,187.14
美元 75,599.78 6.5342 493,984.08 61,424.89 6.9370 426,104.47
其他货币资金(注)： 56,799,096.52 234,800,002.43
人民币 56,799,096.52 234,800,002.43
合计 135,876,526.83 360,852,975.47
注：于 2017 年 12 月 31 日，其他货币资金金额中包括：保证收益型存款人民币 55,000,000.00 元(于 2016
年 12 月 31 日：人民币 220,000,000.00 元)；旅行社质量保证金、证券账户保证金余额人民币 1,799,096.52
元(于 2016 年 12 月 31 日：人民币 700,002.43 元)及保函保证金人民币零元(于 2016 年 12 月 31 日：
人民币 14,100,000.00 元)。
第 70 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
2、应收账款
(1) 应收账款按种类披露：
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类
账面价值 比例 账面价值
金额 比例(%) 金额 比例(%) 金额 金额 比例(%)
(%)
单项金额
虽不重大
但单项计
2,057,984.13 100.00 430,524.06 20.92 1,627,460.07 2,483,476.65 100.00 430,524.06 17.34 2,052,952.59
提坏账准
备的应收
账款
合计 2,057,984.13 100.00 430,524.06 20.92 1,627,460.07 2,483,476.65 100.00 430,524.06 17.34 2,052,952.59
(2) 应收账款坏账准备余额无变动。
3、其他应收款
(1) 其他应收款按种类披露：
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
账面原值 坏账准备 账面原值 坏账准备
种类
比例 比例 账面价值 比例 比例 账面价值
金额 金额 金额 金额
(%) (%) (%) (%)
单项金额
重大并单
项计提坏
1,505,600.00 36.61 - - 1,505,600.00 1,505,600.00 42.48 - - 1,505,600.00
账准备的
其他应收
款
单项金额
虽不重大
但单项计
2,607,103.35 63.39 2,200.00 0.08 2,604,903.35 2,038,869.09 57.52 2,200.00 0.11 2,036,669.09
提坏账准
备的其他
应收款
合计 4,112,703.35 100.00 2,200.00 0.05 4,110,503.35 3,544,469.09 100.00 2,200.00 0.06 3,542,269.09
第 71 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
3、其他应收款 - 续
(2) 其他应收款坏账准备余额无变动。
(3) 按欠款方归集的年末余额前五名的其他应收款情况
人民币元
占其他应收款
单位名称 与本公司关系 金额
净额的比例(%)
北京锦旅 子公司 1,505,600.00 36.63
浙江锦旅 子公司 931,772.19 22.67
公司 A 第三方 266,563.22 6.48
公司 B 第三方 138,644.30 3.37
公司 C 第三方 60,763.50 1.48
合计 2,903,343.21 70.63
4、长期股权投资
(1) 长期股权投资分类汇总如下：
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
对子公司投资 63,806,724.14 63,806,724.14
对联营企业投资 65,402,885.09 74,341,692.57
合计 129,209,609.23 138,148,416.71
减：长期股权投资减值准备 10,615,164.70 10,615,164.70
长期股权投资净额 118,594,444.53 127,533,252.01
第 72 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
4、长期股权投资 - 续
(2) 对子公司投资明细如下：
人民币元
被投资单位 核算 减值准备 本年计提 减值准备
初始投资成本 2016 年 12 月 31 日 本年变动 2017 年 12 月 31 日
名称 方法 年初余额 减值准备 年末余额
子公司
上海国旅国际旅
成本法 18,000,000.00 18,000,000.00 - 18,000,000.00 - - -
行社有限公司
上海锦江旅游控股
成本法 13,379,802.00 13,379,802.00 - 13,379,802.00 - - -
有限公司
上海华亭海外旅
成本法 11,719,107.73 11,719,107.73 - 11,719,107.73 - - -
游有限公司
上海国之旅国际
货运代理有限公 成本法 4,500,000.00 4,500,000.00 - 4,500,000.00 - - -
司
浙江锦旅国际旅
成本法 3,995,919.00 3,995,919.00 - 3,995,919.00 3,995,919.00 - 3,995,919.00
行社有限公司
北京锦江国际旅
成本法 2,419,245.70 2,419,245.70 - 2,419,245.70 2,419,245.70 - 2,419,245.70
行社有限公司
上海锦江国际绿
色假期旅游有限 成本法 1,400,000.00 4,200,000.00 - 4,200,000.00 4,200,000.00 - 4,200,000.00
公司
上海锦江出入境
成本法 1,340,698.25 908,452.14 - 908,452.14 - - -
服务有限公司
上海旅行社有限
成本法 1,061,700.00 2,927,237.57 - 2,927,237.57 - - -
公司
上海国之旅物业
成本法 900,000.00 900,000.00 - 900,000.00 - - -
管理有限公司
上海国旅广告有
成本法 600,000.00 600,000.00 - 600,000.00 - - -
限公司
上海国之旅导游
成本法 256,960.00 256,960.00 - 256,960.00 - - -
服务有限公司
合计 59,573,432.68 63,806,724.14 - 63,806,724.14 10,615,164.70 - 10,615,164.70
(以下将上述子公司统称为“本公司的子公司”)
(3) 对联营企业投资明细如下：
人民币元
本年增减变动
减值
被投资单位名称 2016 年 12 月 31 日 权益法下确认的 2017 年 12 月 31 日
减少投资 准备
投资损益
联营企业
上海锦江商旅汽车服务股份有限公司 57,037,696.04 6,216,028.90 - 63,253,724.94 -
上海浦江游览有限公司 12,324,055.62 639,300.49 (12,963,356.11) - -
上海东方航空国际旅游运输有限公司 268,901.13 4,557.38 - 273,458.51 -
上海外航国际旅行社有限公司 3,559,833.10 (2,729,460.37) - 830,372.73 -
上海一日旅行社有限公司 120,858.08 (120,858.08) - - -
上海聚星物业管理有限公司 1,030,348.60 14,980.31 - 1,045,328.91 -
合计 74,341,692.57 4,024,548.63 (12,963,356.11) 65,402,885.09 -
注：于 2017 年 3 月 28 日，本集团与上海交运(集团)公司签订股权转让协议，转让公司持有的上海浦
江游览有限公司 20%股权。
第 73 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
5、固定资产
人民币元
机器设备、电 固定资产装修
项目 房屋及建筑物 运输工具 合计
子设备及其他 支出
一、账面原值
1.2016 年 12 月 31 日 74,088,771.40 4,530,292.21 9,004,384.21 6,202,441.40 93,825,889.22
2.本年增加 - 购置 - 22,535.90 905,923.13 - 928,459.03
3.本年减少 (22,823,113.17) (279,996.42) (244,130.00) - (23,347,239.59)
(1) 处置或报废 (788,084.00) (279,996.42) (244,130.00) - (1,312,210.42)
(2) 自用房地产转换为投资
(22,035,029.17) - - - (22,035,029.17)
性房地产
4. 2017 年 12 月 31 日 51,265,658.23 4,272,831.69 9,666,177.34 6,202,441.40 71,407,108.66
二、累计折旧
1. 2016 年 12 月 31 日 28,594,591.20 3,284,221.05 4,731,180.15 4,711,344.54 41,321,336.94
2.本年增加 - 计提 1,350,907.56 542,128.27 995,608.50 1,368,977.29 4,257,621.62
3.本年减少 (11,407,165.23) (265,911.60) (231,923.50) - (11,905,000.33)
(1) 处置或报废 (748,679.80) (265,911.60) (231,923.50) - (1,246,514.90)
(2) 自用房地产转换为投资
(10,658,485.43) - - - (10,658,485.43)
性房地产
4. 2017 年 12 月 31 日 18,538,333.53 3,560,437.72 5,494,865.15 6,080,321.83 33,673,958.23
三、减值准备
1. 2016 年 12 月 31 日 - - - - -
2. 2017 年 12 月 31 日 - - - - -
四、账面价值
1. 2016 年 12 月 31 日 45,494,180.20 1,246,071.16 4,273,204.06 1,491,096.86 52,504,552.28
2. 2017 年 12 月 31 日 32,727,324.70 712,393.97 4,171,312.19 122,119.57 37,733,150.43
6、其他非流动资产
人民币元
2017 年 12 月 31 日
项目
及 2016 年 12 月 31 日
民航保证金 1,150,000.00
其他(注) 856,851.80
合计 2,006,851.80
注：其他系本公司支付给货运行业协会的保证金及高尔夫球场的会员证。
7、营业收入、营业成本
(1) 营业收入及营业成本
人民币元
2017 度 2016 年度
项目
收入 成本 收入 成本
主营业务 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
其他业务 18,558,525.69 5,246,779.24 15,992,316.39 4,890,729.81
合计 341,190,245.73 318,690,540.70 428,938,697.47 409,294,153.85
第 74 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
7、营业收入、营业成本 - 续
(2) 主营业务
人民币元
2017 年度 2016 年度
行业名称
营业收入 营业成本 营业收入 营业成本
旅游及相关业务 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
合计 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
(3) 主营业务(分地区)
人民币元
2017 度 2016 年度
地区名称
营业收入 营业成本 营业收入 营业成本
中国大陆地区 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
合计 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
(4) 其他业务
人民币元
2017 年度 2016 年度
行业名称
营业收入 营业成本 营业收入 营业成本
房屋租赁 18,558,525.69 5,246,779.24 15,992,316.39 4,890,729.81
合计 18,558,525.69 5,246,779.24 15,992,316.39 4,890,729.81
8、管理费用
人民币元
项目 2017 年度 2016 年度
职工薪酬 13,390,604.75 12,273,469.87
折旧与摊销 4,348,868.66 4,461,107.33
能源费与物料消耗 1,582,825.51 1,903,215.48
业务招待费 16,099.00 34,015.25
其他 5,005,755.80 5,795,047.02
合计 24,344,153.72 24,466,854.95
第 75 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
9、投资收益
(1) 投资收益明细情况
人民币元
项目 2017 年度 2016 年度
成本法核算的长期股权投资收益 - 438,754.52
权益法核算的长期股权投资收益 4,024,548.63 7,375,865.40
处置长期股权投资产生的投资收益 2,739,009.89 -
持有可供出售金融资产等期间取得的投资收益 27,797,885.24 24,359,796.55
处置以公允价值计量且其变动计入当期损益的金融
632,485.99 -
资产取得的投资收益
处置可供出售金融资产等取得的投资收益 76,619,247.24 79,026,886.95
委托贷款取得的投资收益 81,367.58 54,723.83
转融券业务取得的收益 39,376.71 -
合计 111,933,921.28 111,256,027.25
(2) 按成本法核算的长期股权投资收益
人民币元
被投资单位 2017 年度 2016 年度
上海国旅广告有限公司 - 429,660.39
上海国之旅物业管理有限公司 - 9,094.13
合计 - 438,754.52
(3) 按权益法核算的长期股权投资收益详情请参见附注(六)33(2)。本公司的投资收益汇回不存在重大限
制。
(4) 持有可供出售金融资产期间取得的投资收益详情参见附注(六)33(3)。
(5) 处置可供出售金融资产等取得的投资收益详情参见附注(六)33(4)。
第 76 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
10、营业外收入
(1) 营业外收入明细如下：
人民币元
计入本年非经常性
项目 2017 年度 2016 年度
损益的金额
政府补助 1,800,000.00 1,056,956.00 1,800,000.00
其他 35,714.36 735,757.53 35,714.36
合计 1,835,714.36 1,792,713.53 1,835,714.36
(2) 计入当期的损益政府补助明细
人民币元
与资产相关/
补助项目 2017 年度 2016 年度
与收益相关
财政扶持资金 1,800,000.00 990,000.00 与收益相关
其他 - 66,956.00 与收益相关
合计 1,800,000.00 1,056,956.00
11、现金流量表项目注释
(1) 收到的其他与经营活动有关的现金
人民币元
项目 2017 年度 2016 年度
保函保证金的减少 14,100,000.00 -
利息收入 7,205,540.13 1,956,203.79
收到的政府补贴 1,800,000.00 1,056,956.00
其他 17,253,984.56 9,535,757.53
合计 40,359,524.69 12,548,917.32
(2) 支付的其他与经营活动有关的现金
人民币元
项目 2017 年度 2016 年度
营业费用及管理费用中的支付额 3,908,718.34 7,899,069.91
支付的银行手续费 768,327.52 992,740.36
支付子公司款项 - 59,000,000.00
存入的保函保证金 - 14,100,000.00
其他 158,322.02 229,900.29
合计 4,835,367.88 82,221,710.56
第 77 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
12、现金流量表补充资料
(1) 现金流量表补充资料
人民币元
补充资料 2017 年度 2016 年度
1．将净利润调节为经营活动现金流量：
净利润 88,491,751.56 83,594,330.18
加：固定资产及投资性房地产折旧 8,397,583.34 8,601,475.36
无形资产摊销 579,625.09 558,874.95
长期待摊费用摊销 715,438.60 685,382.62
处置固定资产、无形资产和其他长期资产的损失
(175,077.50) (159,422.00)
(收益)
固定资产报废损失(收益) 53,489.02 33,096.64
公允价值变动损失(收益) (10,627.08) -
财务费用 - (6,605,390.41)
投资损失(收益) (111,933,921.28) (111,256,027.25)
存货的减少(增加) 9,617.43 11,072.42
经营性应收项目的减少(增加) 126,597.45 426,762.54
经营性应付项目的增加(减少) (12,901,196.43) (65,008,098.57)
受限制货币资金的减少(增加) 14,100,000.00 (14,100,000.00)
经营活动产生的现金流量净额 (12,546,719.80) (103,217,943.52)
2．不涉及现金收支的重大投资和筹资活动：
3．现金及现金等价物净变动情况：
现金及现金等价物的年末余额 135,176,526.83 126,052,975.47
减：现金及现金等价物的年初余额 126,052,975.47 202,954,037.14
现金及现金等价物净增加(减少)额 9,123,551.36 (76,901,061.67)
(2) 现金和现金等价物的构成
人民币元
项目 2017 年 12 月 31 日 2016 年 12 月 31 日
一、现金 80,176,526.83 126,052,975.47
其中：库存现金 5,148.36 10,681.43
可随时用于支付的银行存款 79,072,281.95 126,042,294.04
可随时用于支付的其他货币资金 1,099,096.52 -
二、现金等价物 55,000,000.00 -
三、年末现金及现金等价物余额 135,176,526.83 126,052,975.47
第 78 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
13、关联交易情况
(1) 接受和提供劳务以及购销商品
接受劳务情况如下：
人民币元
关联方 2017 年度 2016 年度
关联交易内容
金额 金额
本公司的子公司 接受旅游相关服务 291,749,943.45 370,331,749.41
锦江国际及其下属企业 接受旅游相关服务 12,784,600.91 5,901,063.68
申迪集团及其下属企业 接受旅游相关服务 7,267,653.00 -
锦江酒店集团及其下属企业 接受旅游相关服务 406,878.49 28,500.00
本公司的联营企业 接受旅游相关服务 34,425.10 34,075.00
小计 312,243,500.95 376,295,388.09
本公司的联营企业 接受物业管理服务 759,751.35 646,031.00
小计 759,751.35 646,031.00
合计 313,003,252.30 376,941,419.09
提供劳务情况如下：
人民币元
关联方 2017 年度 2016 年度
关联交易内容
金额 金额
本公司的子公司 提供旅游相关服务 9,414,848.49 16,000,473.57
锦江国际及其下属企业 提供旅游相关服务 797,296.20 771,532.92
锦江酒店集团及其下属企业 提供旅游相关服务 22,927.93 37,162.17
本公司的联营企业 提供旅游相关服务 116,378.38 48,241.17
合计 10,351,451.00 16,857,409.83
第 79 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
13、关联交易情况 - 续
(1) 接受和提供劳务以及购销商品 - 续
采购商品情况如下：
人民币元
2017 年度 2016 年度
关联方 关联交易内容
金额 金额
锦江酒店集团及其下属企业 采购固定资产 632,493.13 -
本公司的联营企业 采购固定资产 29,300.00 -
合计 661,793.13 -
(2) 关联租赁情况
本集团作为出租方：
人民币元
承租方名称 租赁资产种类 本年度确认的租赁收入 上年度确认的租赁收入
锦江国际及其下属企业 办公场所 1,066,260.00 1,066,260.00
本公司的子公司 办公场所 415,569.54 87,363.41
合计 1,481,829.54 1,153,623.41
本集团作为承租方：
人民币元
出租方名称 租赁资产情况 本年度确认的租赁费 上年度确认的租赁费
锦江国际及其下属企业 办公场所 96,033.25 704,323.88
锦江酒店集团及其下属企业 办公场所 284,642.93 139,950.11
合计 380,676.18 844,273.99
(3) 资金拆借
2017 年度关联方资金拆借变动如下：
人民币元
2016 年 2017 年
关联方 本年贷出 本年收回 起始日 到期日
12 月 31 日 12 月 31 日
拆出
绿色假期 2,100,000.00 2,100,000.00 2,100,000.00 2,100,000.00 2017 年 3 月 28 日 2018 年 3 月 27 日
绿色假期 - 700,000.00 - 700,000.00 2017 年 11 月 13 日 2018 年 11 月 12 日
北京锦旅 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 2017 年 4 月 1 日 2018 年 3 月 31 日
合计 3,600,000.00 4,300,000.00 3,600,000.00 4,300,000.00
本公司与关联方之间资金拆借产生的利息收入列示如下：
人民币元
项目 2017 年度 2016 年度
委托贷款利息收入 81,367.58 54,723.83
注：系本公司对绿色假期的委托贷款利息收入。
第 80 页
上海锦江国际旅游股份有限公司
财务报表附注
2017 年 12 月 31 日止年度
(十五) 公司财务报表主要项目注释 - 续
13、关联交易情况 - 续
(4) 应收应付款项
(a) 应收关联方款项
人民币元
2017 年 12 月 31 日 2016 年 12 月 31 日
项目名称 关联方
账面余额 坏账准备 账面余额 坏账准备
应收账款 本公司的子公司 2,218,365.00 - 703,319.34 -
应收账款 锦江国际及其下属企业 - - 5,524.96 -
应收账款 锦江酒店集团及其下属企业 123,360.00 - 4,700.00 -
应收账款 本公司的联营企业 - - 66,605.70 -
小计 2,341,725.00 - 780,150.00 -
其他应收款 本公司的子公司 3,021,048.19 - 2,584,002.19 -
其他应收款 锦江国际及其下属企业 69,474.88 - 50,000.00 -
其他应收款 锦江酒店集团及其下属企业 - - 42,000.00 -
其他应收款 本公司的联营企业 - - 126,388.28 -
小计 3,090,523.07 - 2,802,390.47 -
其他流动资产 本公司的子公司 2,800,000.00 - 2,100,000.00 -
小计 2,800,000.00 - 2,100,000.00 -
(b) 应付关联方款项
人民币元
项目名称 关联方 2017 年 12 月 31 日 2016 年 12 月 31 日
应付账款 本公司的子公司 - 3,418,205.66
应付账款 锦江国际及其下属企业 85,354.58 1,182,043.42
应付账款 本公司的联营企业 - 25,200.00
小计 85,354.58 4,625,449.08
其他应付款 本公司的子公司 17,057,450.29 17,840,926.71
其他应付款 锦江国际及其下属企业 - 207,960.00
其他应付款 本公司联营公司 16,445.90 -
小计 17,073,896.19 18,048,886.71
预收款项 本公司的子公司 1,767,450.00 1,290,152.75
小计 1,767,450.00 1,290,152.75
(十六) 财务报表之批准
本公司的合并及母公司财务报表于 2018 年 3 月 27 日已经本公司董事会批准。
第 81 页
上海锦江国际旅游股份有限公司
2017 年 12 月 31 日止年度
补充资料
1、非经常性损益明细表
本非经常性损益明细表是本公司按照中国证券监督管理委员会颁布的《公开发行证券的公司信息披露解释性公
告第 1 号—非经常性损益(2008)》的有关规定而编制的。
人民币元
项目 2017 年度 2016 年度
非流动资产处置与报废损益 79,240.71 222,393.39
计入当期损益的政府补助(与企业业务密切相关，按照国家统一标准定
4,257,109.41 6,902,884.60
额或定量享受的政府补助除外)
除同公司正常经营业务相关的有效套期保值业务外，持有交易性金融
资产、交易性金融负债产生的公允价值变动损益，以及处置交易性金 77,262,360.31 79,026,886.95
融资产、交易性金融负债和可供出售金融资产取得的投资收益
处置长期股权投资产生的投资收益 2,739,009.89 -
融券业务取得的收益 39,376.71 -
单独进行减值测试的应收款项减值准备转回 99,195.10 1,513,121.69
除上述各项之外的其他营业外收入和支出 (144,430.63) 435,598.99
所得税影响额 (21,083,025.68) (22,024,730.74)
少数股东损益影响额(税后) (8,857.97) (11,757.86)
合计 63,239,977.85 66,064,397.02
2、净资产收益率及每股收益
本净资产收益率和每股收益计算表是上海锦江国际旅游股份有限公司按照中国证券监督管理委员会颁布的《公
开发行证券公司信息披露编报规则第 09 号—净资产资产收益率和每股收益的计算及披露》(2010 年修订)的有关
规定而编制的。
人民币元
每股收益
本年利润 加权平均净资产收益率(%)
基本每股收益 稀释每股收益
归属于公司普通股股东的净利润 5.24 0.4619 不适用
扣除非经常性损益后归属于公司普
(0.17) (0.0152) 不适用
通股股东的净利润
2017 Annual Report
Company code: 900929 Abbreviation of Company: JJIT Share B
Shanghai Jinjiang International Travel Co.,
Ltd.
2017 Annual Report
1 / 56
2017 Annual Report
Important Reminders
I. The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff
of Shanghai Jinjiang International Travel Co., Ltd. (hereinafter referred to as “the Company”) warrant
that the information carried in this report is factual, accurate and complete, without any false record,
misleading statement or material omission. And they shall be jointly and severally liable for that.
II. All directors of the Company are present at the board meeting.
III. Deloitte Touche Tohmatsu Certified Public Accountants LLP has issued an audit report with standard
unqualified opinion for the Company.
IV. Shao Xiaoming, Company Principal, Bao Lei, Chief Executive Officer, Zhuang Qi, the person-in-charge
of the accounting work, and Chen Xuanzhao, the person-in-charge of the accounting organ (chief of
accounting), hereby declare that they guarantee the factuality, accuracy and completeness of the financial
statements in this report.
V. The Company’s preplan for profit allocation or turning capital reserve into share capital for the reporting period
upon review and approval of the Board of Directors:
Upon audited by Deloitte Touche Tohmatsu Certified Public Accountants LLP, the net profit of the Company
without subsidiaries for 2017 records RMB 88,491,751.56; the remaining net profit plus the retained profit of
RMB 220,427,928.58 from last year, equals the profit distributable to shareholders of RMB 308,919,680.14
for 2017. The 2017 Annual Profit Allocation Pre-plan is as follows: Based on the total 132,556,270 shares of
the Company as at 31 Dec. 2017, a cash dividend of RMB 2.34(inclusive of tax) will be distributed for every
10 shares held by shareholders, with the total distributed cash dividends amounting to RMB
31,018,167.18.The retained profit of RMB 277,901,512.96 will be carried forward into the next year.
The pre-plan for profit allocation shall be submitted to the Company’s Shareholders’ General Meeting for
review.
VI. Statement regarding risks concerning forward-looking statements
√Applicable □Not Applicable
Any forward-looking statement such as those involving any future plan and development strategy in this
report shall not be considered as virtual promises of the Company to investors. And investors are kindly
reminded to pay attention to possible investment risks.
VII. Did the controlling shareholder or its related parties occupy the Company’s capital for non-operating
purposes?
No
VIII. Did the Company provide guarantees for external parties in violation of the prescribed decision-making
procedure?
No
IX. Reminder of Significant Risks
The Company has described in detail the risks the Group might be facing in "Report of the Board of
Directors". Investors are kindly reminded to pay attention to the relevant information.
X. Other
√Applicable □Not Applicable
The annual report is printed in Chinese and English, if there is any discrepancy between the Chinese and the
English versions, the Chinese version shall prevail.
2 / 56
2017 Annual Report
Table of Contents
Section I. Explanation .................................................................................................................................................. 4
Section II. Company Profile& Financial Indicator Highlights ...................................................................................... 5
Section III. Company Business Overview ...................................................................................................................... 9
Section IV. Operation Discussion & Analysis .............................................................................................................. 11
Section V. Significant Events ...................................................................................................................................... 27
Section VI. Changes in Ordinary Shares and Particulars about Shareholders .............................................................. 38
Section VII. Particulars about Preference Shares ........................................................................................................... 43
Section VIII. Directors, Supervisors, Senior Management Staff & Employees .............................................................. 44
Section IX. Corporate Governance ............................................................................................................................... 50
Section X. Information about Company Boud ............................................................................................................. 54
Section XI. Financial Statements .................................................................................................................................. 55
Section XII. List of Documents Available For Inspection .............................................................................................. 56
3 / 56
2017 Annual Report
SectionI. Explanation
I. Explanation
The items in the left column refer to the explanations in the right column unless as otherwise specified.
Explanation of commonly used words
CSRC Refers to China Securities Regulatory Commission
SSE Refers to Shanghai Stock Exchange
The Group, Jinjiang International, Jinjiang Refers to Jinjiang International (Group) Co., Ltd.
International Group
Jinjiang Hotels Refers to Shanghai Jinjiang International Hotels (Group) Co., Ltd.
WeHotel Refers to Shanghai WeHotel Network Technology Co., Ltd.
Jinjiang Finance Refers to Jinjiang International Group Finance Co., Ltd.
Company, the Company, Jinjiang Travel Refers to Shanghai Jinjiang International Travel Co., Ltd.
SCITS Refers to Shanghai China International Travel Service Co., Ltd.
Jinlv Holdings ( formerly Jinjiang Tourism) Refers to Shanghai Jinjiang Tourism Holding Co., Ltd. (Formerly named as
Shanghai Jinjiang Tourism Co., Ltd.)
Shanghai Travel Agency Refers to Shanghai Travel Agency Co., Ltd.
Huating Overseas Refers to Shanghai Huating Overseas Tourism Co., Ltd.
Jinjiang Convention Company Refers to Shanghai Jinjiang International Convention Co., Ltd.
Jinjiang Business and Travel Refers to Shanghai Jinjiang Business and Travel Automobile Service Co., Ltd.
Pujiang River Tourism Refers to Shanghai Pujiang River Tourism Co., Ltd.
SPD Bank Refers to Shanghai Pudong Development Bank
Bank of Communications Refers to Bank of Communications Co., Ltd.
Yuyuan Tourist Mart Refers to Shanghai Yuyuan Tourist Mart Co., Ltd.
Shenwan Hongyuan Refers to Shenwan Hongyuan Group Co., Ltd.
Domestic Tourism Refers to Provide domestic tourism service to Chinese Residents, including travel,
hotel, catering, sight-seeing tourism, leisure tourism, tour guide service
etc.
Inbound Tourism Refers to Provide tourism service within China to foreign tourists, including travel,
hotel, catering, sight-seeing tourism, leisure tourism, tour guide service
etc.
Outbound Tourism Refers to Provide outbound tourism service to Chinese residents, including travel,
hotel, catering, sight-seeing tourism, leisure tourism, tour guide service
etc.
Meeting and Incentive Tourism Refers to Provide meeting, incentive, convention, exhibition and other related
services to companies, government agencies and other organizations,
including consulting, planning, arranging, and execution etc.
Articles of Association Refers to Articles of Association of Shanghai Jinjiang International Travel Co., Ltd.
Company Law Refers to PRC Company Law
Securities Law Refers to PRC Securities Law
The reporting period, current year Refers to The year of 2017
RMB RMB0’000 Refers to Renminbi Renminbi 0’000
Note: WeHotel refers to Shanghai WeHotel Network Technology Co., Ltd. and its global hotel sharing platform based
on the business model of “Mobile Internet + Smart hotel +Shared services + Consumer finance”.
4 / 56
2017 Annual Report
Section II. Company Profile& Financial Indicator Highlights
I. Information about the Company
Chinese name of the Company 上海锦江国际旅游股份有限公司
Abbreviation of the Chinese name of the Company 锦江旅游
English name of the Company Shanghai Jinjiang International Travel Co., Ltd.
Abbr. of the English name of the Company JJIT
Legal representative of the Company Shao Xiao Ming
II. Contact us
Company Secretary Securities Affairs Representative
Name Jin Jing Xiang Sheng
Contact address 27/F, Lianyi Plaza, 100East Yan’an Road, Shanghai, 27/F, Lianyi Plaza, 100East Yan’an Road, Shanghai,
Tel. 021-63264000 021-63264000
Fax 021-63296636 021-63296636
E-mail jinjing@jjtravel.com xiangsheng@jjtravel.com
III. Basic information
Registered address 27/F, Lianyi Plaza, 100 East Yan’an Road, Shanghai, P.R.China
Postal code for the registered address 200002
Office address 27/F, Lianyi Plaza, 100 East Yan’an Road, Shanghai, P.R.China
Postal code for the office address 200002
Internet website of the Company www.jjtravel.com
Email address scits@scits.com
IV. Information disclosure and where this report is placed
Newspapers designated by the Company for information disclosure Shanghai Securities News, Ta Kung Pao (HK)
Internet website designated by CSRC for disclosing this report www.sse.com.cn
Where this report is placed The Company, Shanghai Stock Exchange
V. Basic information about the stock of the Company
Basic information about the stock of the Company
Stock variety Stock exchange Stock abbreviation Stock code Stock abbreviation
before change
B-share Shanghai Stock JLBG 900929
Exchange
5 / 56
2017 Annual Report
VI. Other relevant information
Service Hotline:400-820-8286
Wechat Subscriptions: Jinjiang International Travel
Wechat Number: jinjiangtravel
Wechat QR code：
Name Deloitte Touche Tohmatsu Certified Public Accountants
LLP
CPAs firm engaged by the Company (domestic) Office address 30/F, Bund Center, 222 East Yan’an Road, Shanghai,
P.R.China
Signing accountants Tang Lianjiong, Hua Sheng
VII. Accounting and financial indicator highlights of the Company for the recent three years
(I) Accounting highlights
Unit: RMB
Year-on-year
Accounting highlights 2017 2016 2015
difference (%)
Operating income 1,710,185,432.74 1,907,531,142.26 -10.35 2,280,187,322.60
Net profit attributable to
61,228,732.75 61,137,877.20 0.15 60,752,458.26
shareholders of the
Net profit attributable to
shareholders of the
-2,011,245.10 -4,926,519.82 N/A 22,058,347.30
Company, net of
non-recurring profit or loss
Net cash flows from
-53,436,817.99 -64,802,366.73 N/A -30,553,566.86
operating activities
Year-on-year
As at 31/12/2017 As at 31/12/2016 As at 31/12/2015
difference (%)
Net assets attributable to
1,147,555,643.09 1,167,858,604.59 -1.74 1,269,072,888.25
shareholders of the
Total assets 1,603,039,374.36 1,657,818,410.73 -3.30 1,795,795,701.68
Total share capital 132,556,270.00 132,556,270.00 0.00 132,556,270.00
(II) Financial indicator highlights
Financial indicator highlights 2017 2016 Year-on-year difference (%) 2015
Basic EPS ((RMB /share)) 0.4619 0.4612 0.15 0.4583
Diluted EPS ((RMB /share)) N/A N/A N/A N/A
Basic EPS net of non-recurring profit or loss
-0.0152 -0.0372 N/A 0.1664
((RMB /share))
Weighted average ROE ((%)) 5.24 5.14 Up 0.1 percentage points 4.91
Weighted average ROE net of non-recurring
-0.17 -0.41 Up 0.24 percentage points 1.78
profit or loss ((%))
Description of accounting and financial indicator highlights of the Company at the end of the reporting period for the
recent three years
□Applicable √Not Applicable
6 / 56
2017 Annual Report
VIII. Accounting data variance based on domestic and international accounting standards
(I) Differences of net profit and net profit attributable to shareholders of the Company in the financial
report disclosed under IAS and CAS
□Applicable √ Not Applicable
(II) Differences of net profit and net profit attributable to shareholders of the Company in the financial
report disclosed under FAS and CAS
□Applicable √ Not Applicable
(III) Description of difference between FAS and CAS
□Applicable √ Not Applicable
IX. Financial data highlights by quarters in 2017
Unit: RMB
The first quarter The second quarter The third quarter The fourth quarter
(Jan.-Mar.) (Apr.-Jun.) (Jul.-Sep.) (Oct.-Dec.)
Operating revenues 339,795,649.61 394,569,431.91 482,547,997.92 493,272,353.30
Net profit attributable to
14,119,028.95 36,709,504.24 1,413,423.05 8,986,776.51
shareholders of the Company
Net profit attributable to
shareholders of the Company
-2,508,776.06 -3,263,021.05 837,573.57 2,922,978.44
after extraordinary gains and
losses
Net cash flows from operating
-6,121,649.31 24,172,105.19 -38,930,643.57 -32,556,630.30
activities
Description of difference between quarter data and disclosed regular reporting data
□Applicable √ Not Applicable
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2017 Annual Report
X. Items and amounts of non-recurring profit or loss
√ Applicable □Not Applicable
Unit: RMB
Notes (if
Items 2017 2016 2015
applicable)
Profit/loss on the disposal and loss
on the retirement of non-current 79,240.71 222,393.39 -19,981.90
assets
Government grants recognized in
the current year, except for those
acquired in the ordinary course of
4,257,109.41 6,902,884.60 4,640,299.80
business or granted at certain
quotas or amounts according to
the country’s unified standards
Profit or loss on changes in fair
value of held-for-trading financial
assets and liabilities, as well as Investment
investment income from disposal income from the
of tradable financial assets and
sale of SPDB，
held-for-trading financial assets 77,262,360.31 79,026,886.95 46,329,510.93
and liabilities and and Yuyuan
available-for-sale financial assets, Tourist Mart
except for effective hedging securities
business related to normal
businesses of the Company
Investment income from disposal
2,739,009.89 - -
of long-term equity investment
Gains from stock lending
39,376.71 - -
businesses
Impairment provision reversal of
accounts receivable on which the
99,195.10 1,513,121.69 639,757.03
impairment test is carried out
separately
Non-operating income and
expense other than the -144,430.63 435,598.99 15,239,36
aforementioned items
Income tax effects -21,083,025.68 -22,024,730.74 -12,901,170.59
Minority interests effects (after
-8,857.97 -11,757.86 -9,543.67
tax )
Total 63,239,977.85 66,064,397.02 38,694,110.96
XI. Items measured at fair value
√Applicable □Not Applicable
Unit: RMB
Change in the Impact on
Item Opening balance Closing balance
reporting period current profit
Available-for-sale financial assets 730,425,794.60 947,371,170.05 216,945,375.45 104,370,551.00
Held-for-trading financial assets 0.00 31,071.96 31,071.96 643,113.07
Total 730,425,794.60 947,402,242.01 216,976,447.41 105,013,664.07
XII. Others
□Applicable √Not Applicable
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2017 Annual Report
SectionIII. Company Business Overview
SectionI. Description of the company's major business, business model and industry overview during the
reporting period
Company’s Principal business and business model
The Company and its major subsidiary companies are mainly engaged in travel agency business which contains
organizing inbound tourism for overseas travelers, inbound and outbound tourism for Chinese citizen and providing
consumers of sightseeing tour, leisure vacations, conference, exhibition and travel consultation etc. As at 31 December
2017, the Company has more than 50 stores, selling travel products including “Interest”, “Joy”, “Lucky Bird”, “Jincui”,
“Jincai”, “Jinyue”, “Jin Show”, “Jin Beauty", "Calling Friends”, “Oxygen Tour” “Relaxing Luxury Weekends", and
others promoted by its subsidiary company- Jinlv Holdings (combined by SCITS, Jinjiang Tourism, Shanghai Travel
Agency and Huating Overseas and operated in the united brand of “Jingjiang Truism” externally). In 2017, travel and
related business of the Company accounted for 98.12% of the Company's total operating income, decreased by 0.15%
compared with that of last year, and no significant changes incurred for the year.
Industry information
The Company operates in tourism industry, and is categorized into “Social Service Tourism” according to Listed
Corporation Industry Classification Guidelines by CSRC (China Securities Regulatory Commission). As a sunrise
industry, tourism has witnessed people changing their consumption concept with the rapidly development of economy
and raising living standards. In recent years, tourism have kept steady and rapid growth, which drives the national
economy effectively. Tourism is becoming a major industry of national economic development and plays a strategic
relevant leading role in the whole national economy and social development
As stated in the 10th version of Blue Book of China's Tourism Economy released by China Tourism Academy and the
Data Center of the Ministry of Culture and Tourism, due to continuous prosperity in domestic and oversea travel market
in 2017, the tourism economy continues to maintain a good momentum of development. With rapid growth in the
domestic tourism market, and the steady development of the inbound and outbound markets, it shows obvious
effectiveness of the supply-side structure reform and the whole society has gradually accepted toilet revolution and
global tourism during the development, hence the tourism service quality has steadily increased with gradually
emergency of regional tourism equalization trend and more prominent role of tourism in diplomacy and Hong Kong,
Macao and Taiwan affairs. It is expected that the tourism’s contribution will account for more than 10% in the national
economy and social employment in 2017.
At present, the new generation consumer groups represented by the post-80s and the post-90s and the middle class have
led the market demands. They prefer consuming at the spiritual level with great attentions to health and
self-development. Their consumptions in tourism has also changed to be environment-friendly, healthy, personalized,
fashioned, high-quality, and experiential, neither aiming to show off and follow others nor participating in low-quality
superficial consumptions. During the process from passive onlookers to active participators in tourism, tourists are more
concerned on the depth and richness of experience in tourism activities, more caring about the degree of participation
and richness of tourism content, and more emphasized to gain happiness and growth from travels. They put forward new
requirements on excellent brands and high-quality tourism products, and would like to pay additional fees for good
products and contents. Pushed by changes in consumption demands, consumption concepts, and consumer preferences
of new generations, a new consumption era has arrived. Therefore, if the tourism suppliers want to satisfy the changing
and escalating market demands, they have no choice but to innovate to provide better products and services.
In accordance with 2017 Development Report of Chinese Travel Groups, enterprises in China have experienced huge
changes under the driving force from national economy development, supply-side reforms and mass entrepreneurship
and innovation. Chinese tourism companies are changing from the passive imitation and receipts of European and USA
lifestyles and business models to the active export of business models and lifestyles, and is actively influencing tourism
industry rather than being affected by the tourism industry. Tourism, instead of being a part of life previously, has
transformed the life itself. As a remotely living experience, tourism becomes the source of ideas for the revolution and
innovation of tourism companies.
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2017 Annual Report
SectionII. Description of significant changes in the main assets of the company during the reporting period
√Applicable □Not Applicable
Refer to “Section IV. Management Discussion & Analysis - (VI) Significant assets and equity transfer”
SectionIII. Core competitive advantages analysis during the reporting period
√Applicable □Not Applicable
1. Brand competitiveness: The Company holds “Jinjiang Tourism” and conducts unified brand management after
the Company’s subsidiary, Jinlv Holdings have integrated business resources of SCITS, Jinjiang Holdings,
Shanghai Travel Agency and Huating Overseas. In 2017, the brand "Joy” regained the award of 2017 Shanghai
famous brand. Depending on competitive advantages of different travel agencies in the market, the Company
owns a certain group of loyal clients.
2. Size competitiveness: The Company and its holding subsidiaries have always ranked at the top of the list among
the National Ranking of Top 100 Strongest Travel Agencies as well as all business indicators of the travel
agencies in Shanghai. With strong credit, they take up a large share in the market.
3. Resources advantages: The Company has sound management rules and standardized operation, continuing to
explore new travel lines and improve operation methods and front-line service quality. As the Company has
more than 50 stores located in various regions of Shanghai, it has ample clients. In addition, the Company also
has a lot high-quality professional talents and suppliers at home and abroad.
4. Group competitiveness: Due to the strong and influential Jinjiang International Group, the Company is in an
advantageous position amid the competition in the industry. The Group has come out in front of “Top 20 Travel
Group in China” for many times.
In 2017, Jinlv Holdings, a subsidiary of the Company’s travel agency, was awarded the title of “Five-Star Integrity
Buildup Enterprise” by Shanghai “Corporate Integrity Buildup” Campaign Organization Committee and Shanghai
Tourism Trade Association; CITS Shanghai, Jinlv Holdings, and Huating Overseas won the title of "Shanghai
Civilization Unit 2015-2016" awarded by Shanghai Municipal Government; Changle Road Store was awarded the
"Women's Civilization Post" by the leading group of Shanghai Women Contribution Campaign and Shanghai Women's
Federation; "Jinjiang Tourism" was ranked in the "2017 Integrity Enterprise List of Tourism" recommended by the
Morning Post; Jinlv Holdings was awarded the "Most Popular Travel Agency" during the Shanghai World Tourism Fair
(SWTF); Jinlv Holdings was awarded the "National Travel Industry Award Most Trusted Travel Agency"; Jinlv Holdings
was awarded “National Travel Industry Award Top 5 Wholesalers of Japan-South Korea Line”, “Top 3 Wholesalers of
Hong Kong- Macau Line”, “Top 5 Wholesalers of Taiwan Line”, “Top 5 Wholesalers of Southeast Asia Line”, and “Top
5 Wholesalers of Island Line”; Jinlv Holdings was awarded the "2017/2019 Preferred Partner" by the Australian Tourist
Commission.
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2017 Annual Report
SectionIV. Operation Discussion & Analysis
I． Operation Discussion and Analysis
Tourism has become an important indicator of the current level of modern living and has become a rigid
demand for the people's happy life. According to the data from the National Tourism Work Conference, China’s
per capita travel reached 3.7 times in 2017. China has maintained the status of the world’s largest outbound
tourist source country and the fourth largest inbound tourist reception country in the world for many years.
Meanwhile, the world tourism landscape is also developing along with the status of China's tourism industry.
The tourism industry is increasingly becoming the new engine for economic transformation and consumption
upgrading and the new focus for supply-side reform.
As a traditional travel agency, the year of 2017 is a "building year" for the Company to step into the integration
of resources and create the brand image of “Jinjiang Tourism”. Based on the business integration of CITS
Shanghai, former Shanghai Jinlv, Shanghai Travel and Huating Overseas, Jinlv Holdings implements the
concept of unified management, unified branding, unified office and model innovation and fully optimizes its
market-oriented management structure, asset structure, profit model and incentive model. In 2017, the operating
pressure on the traditional tourism development of the Company was further increased, for example, the
increase in the proportion of domestic and foreign self-service traveling, the frequent occurrence of terrorist
attacks and explosions at hotspot destinations, and OTA's channel advantage by virtue of mobile phone
platforms. Subordinate travel agency of the Company still adheres to that the main business of tourism still
focuses on the three key elements of products, channels and services; it strongly encourages product innovation
and continues to build a three-in-one marketing network of "mobile terminals, online direct sales platforms (call
centers) and offline physical stores to improve reception services, so as to highlight brand quality.
As the outbound travel business of the Company is constrained by the changes in travel patterns of tourists and
consumption upgrades, traditional group business still faces great challenges. During the reporting period, the
Company achieved 105,200 outbound trips, a YoY decrease of 32.39%. The Company’s subordinate travel
agency is actively upgrading products while maintaining the market share of traditional group tour products. It
starts from the details, focuses on differentiation, accelerates innovation, and caters to mid-to-high-end needs,
develops gaps and tests tailor-made travels, such as Israel (Jordan)-Morocco line in Middle East and Africa and
Australia-Singapore line; relying on stable service quality and regular tour arrangements, these products have
received positive market responses.
This year, the Company's inbound travel business has entered a recovery phase, and the effort of transition to
group tours regarding inbound tourist reception is paying off, which is principally attributable to the active
adjustment of grouping services of German, French and other minority languages by the subordinate travel
agency, the introduction of new lines based on traditional lines, the development of Yunnan high-end lines and
the extension of Guilin and Guangzhou tourism services for improving product sales; meanwhile, by seizing the
business opportunities in the 45th anniversary of the normalization of Sino-Japanese diplomatic relations in 2017,
re-expansion of Japanese tourist market is showing initial results; by increasing marketing efforts, launching a
series of new lines and new themes and improving the quality of food, lodging, traffic and travel, a series of tour
group products with Jinjiang specialty is created, which makes it become one of the reception agencies having
the largest number of Japanese tour groups in Jiangnan region. In addition, the Company coordinates the
products and reception resources of the subordinate travel agency and advocates the principle of quality first.
While ensuring the quality of reception, it actively explores high-end customized tourism market of domestic
and foreign-funded companies and achieves a major breakthrough in this market. During the reporting period,
the Company achieved a total of 38,400 visits from traditional inbound grouping service, a YoY increase of
32.41%, and achieved a total of 49,200 visits from traditional inbound reception service, a YoY decrease of
16.33%.
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2017 Annual Report
In terms of domestic travel, it achieved 137,600 domestic trips during the reporting period, a YoY decrease of
19.81%. The Company strengthened the combing and overall management of original domestic travel brands of
the travel agency, defined the high-end positioning of products in respect of business development and
cultivated competitive products. The Company's subordinate travel agency combed to form a domestic travel
product brand system: "Jin" brand as the core and "Jinzun", "Jinli" as the standard brand of tour group products;
continue to maintain "Calling Friends" and "Relaxing Luxury Weekend" customized product brands and
develop "Oxygen Tour" theme travel product brand. In addition, the Company’s subordinate travel agency
increased the frequency of high-star and high-standard self-produced products, and the “New Year's Eve Dinner
Series”, “National Day Bus Series” and “Oriental CJ Series” developed and innovated for domestic travel
business had won market reputation, which achieved good sales performance.
During the reporting period, the outbound travel market experienced many terrorist attacks and explosions in
Europe, the Americas and the Middle East. As a result of the impact of the THAAD Event in South Korea, the
relation between two countries was at an ice point and the group tour business in South Korea stagnated; it also
suffered a series of force majeure events, such as the Bali volcano eruption alert. The Company's subordinate
travel agency did everything possible with concerted efforts to start from developing new products to meet the
needs of different tourists in the market. In the European market, the lines such as Austria, Czech, Bulgaria and
Romania were added to fill the market gap and gained market recognition. In the American market, it tried
Canada + Cuba line (Canadian Maple + Aurora) to attract more high-end tourists, and developed as a series of
parent-child products in Japan, such as the robot hotel parent-child tour group in the summer and Okinawa's
semi-guided parent-child tour group. In Oceania market, products were enriched in combination with Australia's
major events, such as the Melbourne Cup Carnival, Vivid Sydney, Brisbane Carnival, allowing guests to
integrate into Australian native culture. In South Korean and North Korean markets, as a result of the impact of
the THAAD Event, the Company actively adjusted business and internal structure and transferred its business to
Central Asia. The business in Central Asia was started from scratch and created profits for the Company.
The Company continued to take advantage of the reception of large-scale events. The Company's subordinate
travel agency completed high-quality organization of group visits of various government agencies and large
enterprise groups. In 2017, the Astana World Expo in Kazakhstan, the Company's subordinate travel agency sent
professional team to participate in the preparation and reception of the entire session, which was well received
by the customer. Meanwhile, the Company's subordinate travel agency outstandingly completed the programs
including the "Little Lotus" National Youth Dance Competition with more than 2,000 participants, the Weekly
Campaign of National Entrepreneurship Innovation Campaign, the Yangtze River Delta Party School Principals
Forum and the Shanghai Recuperation Program for Outstanding Armed Police of the National Security System.
The professionalism and collaboration capabilities of the team won the reputation of quality service for
“Jinjiang Tourism” once again.
As the traditional business closest to the destination resources, the Company as a traditional travel agency has a
congenital advantage in the sharing of resources, especially in the promotion of services. However, in the
horizontal competition with online e-commerce, the Company deeply knows the importance of making fine
channels. The Company's subordinate travel agency actively and closely works with the Group and WeHotel to
develop the cross-border innovation project- Rex System. The system provides hotels, scenic spot tickets, day
trips, car rental and other multi-category product sales, which is put online while developing using iterative
approach for the purpose of fast promotion. From the on-line test to the end of this year, the expected goal is
basically reached.
The Company continues to uphold the concept of "Jinjiang Quality Tour". After the integration of the
Company's subordinate travel agency, staffing system of tour guides is separated, which further improves the
quality control of frontline services, so as to comprehensively improve the three links of management, training
and quality supervision. In addition, the subordinate travel agency is actively seeking for the implementation of
tour guide assignment business, i.e. to reach cooperative intentions with relevant companies and online
platforms and other peers, as so to improve economic efficiency and establish a benchmark image of
high-quality reception team in the industry.
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2017 Annual Report
II． Major operation information during reporting period
In 2017, the Company achieved consolidated operating income of RMB 1,710.1854 million, down 10.35% on a
year-on-year basis; operating profit of RMB 74.6312 million, up 12.78 % on a year-on-year basis; total profit of
RMB 76.1909 million, up 3.75% on a year-on-year basis; and net profit attributable to shareholders of the
Company of RMB 61.2287 million, up 0.15% on a year-on-year basis.
(I) Principal business analysis
Analysis on movements of items in the income statement and the cash flow statement
Unit: RMB
Items Amount for the current period Amount for the prior period Year-on-year difference +/-%
Operating income 1,710,185,432.74 1,907,531,142.26 -10.35
Operating costs 1,576,203,039.49 1,768,005,141.78 -10.85
Selling expenses 120,286,259.41 124,015,398.85 -3.01
Administration expenses 53,691,765.16 59,365,288.89 -9.56
Financial expenses -4,526,627.12 -4,327,455.23 N/A
Net cash flows from operating activities -53,436,817.99 -64,802,366.73 N/A
Net cash flows from investing activities 80,739,707.82 26,932,683.66 199.78
Net cash flows from financing activities -30,753,054.64 -30,487,942.10 N/A
1. Revenues and cost analysis
√Applicable □Not Applicable
Item 2017 Operating Income 2016 Operating Income +/-%
Outbound tours 776,947,259.47 1,022,041,044.77 -23.98
Inbound tours 143,202,746.78 104,557,984.35 36.96
Domestic tours 182,617,887.15 222,362,856.85 -17.87
Ticketing 330,902,941.00 348,746,521.28 -5.12
Conferences, contests and other tours 243,237,013.62 176,903,877.49 37.50
Subtotal of tours and relevant business lines 1,676,907,848.02 1,874,612,284.74 -10.55
Other business 7,420,274.67 7,664,993.01 -3.19
Subtotal of principal operating income 1,684,328,122.69 1,882,277,277.75 -10.52
Real estate income 25,857,310.05 25,253,864.51 2.39
Total operating income 1,710,185,432.74 1,907,531,142.26 -10.35
Principal business lines classified by industry, product and region
Unit: RMB
Principal business lines classified by industry
Increase/decrea Increase/decrea
Increase/decrease of
se of operating se of operating
Industry Operating income Operating costs Gross profit rate (%) gross profit rate over
income over costs over last
last year (%)
last year (%) year (%)
Tourism and
Up by 0.47
relevant 1,676,907,848.02 1,559,801,229.89 6.98 -10.55 -11.00
percentage point
business
Up by 1.24
Other business 7,420,274.67 5,315,558.14 28.36 -3.19 -4.85
percentage points
Up by 0.49
Total 1,684,328,122.69 1,565,116,788.03 7.08 -10.52 -10.98
percentage point
Principal business lines classified by region
Increase/decrea Increase/decrea
Increase/decrease of
se of operating se of operating
Region Operating income Operating costs Gross profit rate (%) gross profit rate over
income over costs over last
last year (%)
last year (%) year (%)
Up by 0.66
China Mainland 1,541,125,375.91 1,437,061,444.16 6.75 -13.16 -13.77
percentage point
Down by 4.32
Other regions 143,202,746.78 128,055,343.87 10.58 32.97 39.73
percentage points
Up by 0.49
Total 1,684,328,122.69 1,565,116,788.03 7.08 -10.52 -10.98
percentage point
Principal business lines classified by industry, product and region
√Applicable □Not Applicable
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2017 Annual Report
Principal business lines classified by industry
In 2017, the Company's tourism and related operating income decreased by 10.55% from the same period of last
year, accounting for 98.05% in the Company's total operating income, down 0.22 % on a year-on-year basis
with no significant changes.
In 2017, the Company's other business operating income decreased by 3.19% from the same period of last year,
accounting for 0.43% in the Company's operating income, up 0.03% on a year-on-year with no significant
changes.
In 2017, the Company’s tourism and related business gross margin decreased by 0.47% from the same period of
last year, mainly because of the increase in the outbound tourism gross margin.
Principal business lines classified by geographical area
In 2017, the Company’s operating income from China mainland decreased by 13.16% from the same period of
last year, accounting for 91.50% in the Company's principal operating income, down 2.78% on a year-on-year
basis, mainly due to the decrease in the income from outbound tourism business.
In 2017, the Company’s operating income from other areas outside the mainland China increased by 32.97%
from the same period of last year, accounting for 8.50% in the Company's principal operating income, up 2.78%
on a year-on-year basis, mainly due to the increase in the income from inbound group tourism business.
(1) Cost analysis table
Unit: RMB
Industry-classified
Amount for the Amount for the Year-on-yea Expla
Industry Cost item In total costs (%)) In total costs (%)
current period prior period r difference nation
Advances for
tourism and relevant 1,559,801,229.89 98.96 1,752,574,747.78 99.13 -11.00
tourists
Freight
Other business transport 5,315,558.14 0.34 5,586,357.28 0.32 -4.85
business cost
Total 1,565,116,788.03 99.30 1,758,161,105.06 99.44 -10.98
Product-classified
Amount for the Amount for the Year-on-yea Expla
Product Cost item In total costs (%) In total costs (%)
current period prior period r difference nation
Advances for
Outbound tourism 721,796,681.87 45.79 956,611,019.61 54.11 -24.55
tourists
Advances for
Inbound tourism 128,055,343.87 8.12 89,131,473.58 5.04 43.67
tourists
Advances for
Domestic tourism 171,396,579.19 10.87 212,109,835.11 12.00 -19.19
tourists
Advances for
Ticketing 324,975,768.68 20.62 343,800,538.43 19.44 -5.48
tourists
Advances for
tourists for
Meeting and incentive meeting and
213,576,856.28 13.56 150,921,881.05 8.54 41.51
tourism and others incentive
tourism and
others
Subtotal of tourism and
1,559,801,229.89 98.96 1,752,574,747.78 99.13 -11.00
relevant business lines
Other business 5,315,558.14 0.34 5,586,357.28 0.31 -4.85
Subtotal of main
1,565,116,788.03 99.30 1,758,161,105.06 99.44 -10.98
operating costs
Real estate business 11,086,251.46 0.70 9,844,036.72 0.56 12.62
Total operating costs 1,576,203,039.49 100.00 1,768,005,141.78 100.00 -10.85
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2017 Annual Report
Other explanation of Cost analysis
√Applicable □Not Applicable
As mentioned above, the Company mainly engages in business travel and then the business cost is mainly
advances for tourists. In 2017, the Company’s tourism and related business accounted for 98.96% in all year
operating costs, down 0.17% on a year-on-year basis with no significant changes.
In 2017, the Company achieved consolidated operating cost of RMB 1,576.2 million, down 10.85% from the
same period of last year. In the tourism and related business cost was RMB 1,559.80 million, down 11% on a
year-on-year basis, mainly due to the shrink in outbound tourism businesses and domestic tourism businesses.
(3) Details of significant customers and suppliers
□Applicable √Not Applicable
2. Expenses
□Applicable √Not Applicable
3. R&D Investment
R&D Investment Statement
□Applicable √Not Applicable
Explanation
□Applicable √Not Applicable
4. Cash flows
√Applicable □Not Applicable
(1) Net cash flows from operating activities
Net cash flows from operating activities is recorded as RMB -53.4368 million for the reporting
period, representing a net increment of RMB 11.3656 million from RMB -64.8024 million on a
year-on-year basis, mainly due to the decrease of operating income for the reporting period less than
that at the same period of last year.
(2) Net cash flows from investing activities
Net cash flows from investing activities is recorded RMB 80.7397 million for the reporting period,
representing a net increment of RMB 53.8070 million from RMB 26.9327 million on a year-on-year
basis. This was mainly because cash received from investments in the reporting period increased
from the same period of last year.
(3) Net cash flows from financing activities
Net cash flows from financing activities is recorded RMB -30.7531 million for the reporting period,
representing an increment of RMB 0.2652 million from RMB 30.4879 million on a year-on-year
basis. This was mainly because cash dividends increased from the same period of last year.
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2017 Annual Report
(II) Significant changes of profit caused by other operating business
√ Applicable □Not Applicable
In 2017, the income before tax of available-for-sale financial assets held and disposed by the Company takes up
137.05% in Company’s total consolidated profit, down 3.73 % from the same period of last year. Among them,
cash dividend distributed by SPD Bank, Bank of communications, Yuyuan Tourist Mart achieved 27.7979
million, up 3.4381 million from the same period of last year; and pre-tax investment income of disposing SPD
Bank stock and Yuyuan Tourist Mart achieved 76.6192 million, down 2.4076 million from the same period of
last year.
(III) Asset and liability analysis
√Applicable □Not Applicable
1. Asset and liability analysis
Unit: RMB
As at 31 December In total assets as at As at 31 December In total assets as at Year-on-year
Item
2017 31 Dec, 2017 (%) 2016 31 Dec, 2016 (%) difference (%)
Cash and bank balances 224,173,241.14 13.98 485,439,979.21 29.28 -53.82
Accounts receivable 103,142,917.34 6.43 79,753,861.76 4.81 29.33
Prepayments 38,171,218.47 2.38 67,151,363.98 4.05 -43.16
Other receivables 14,659,151.07 0.91 9,902,821.35 0.60 48.03
Available-for-sale financial assets 947,428,678.05 59.10 730,483,302.60 44.06 29.70
Construction in progress 3,970,272.48 0.25 664,910.37 0.04 497.11
Deferred tax assets 15,098,051.41 0.94 9,999,729.76 0.60 50.98
Taxes payable 7,930,915.90 0.49 12,047,677.13 0.73 -34.17
Other payables 52,501,741.84 3.28 39,794,789.16 2.40 31.93
Minority interests -423,564.17 -0.03 -1,550,623.85 -0.09 N/A
Reasons for changes in assets and liabilities
(1)Cash and bank balances
The closing balance is recorded as RMB 224,173,241.14, down 53.82% comparing with the opening balance of
RMB 485,439,979.21, mainly due to investments in the available-for-sale financial assets.
(2)Accounts receivable
The closing balance is recorded as RMB 103,142,917.34, up 29.33% comparing with the opening balance of
RMB 79,753,861.76, mainly due to increase in the receivables of MICE (Meeting, Incentive, Convention,
Exhibition).
(3)Prepayments
The closing balance is recorded as RMB 38,171,218.47, down 43.61% comparing with the opening balance of
RMB 67,151,363.98, mainly due to decrease in the payments for outbound tourism businesses.
(4)Other receivables
The closing balance is recorded as RMB 14,659,151.07, up 48.03% comparing with the opening balance of
RMB 9,902,821.35, mainly due to increase in the amount collected by e-commence platform for the Company.
(5)Available-for-sale financial assets
The closing balance is recorded as RMB 947,428,678.05, up 29.70% comparing with the opening balance of
RMB 730,483,302.60, mainly due to investment increase.
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2017 Annual Report
(6)Construction in progress
The closing balance is recorded as RMB 3,970,272.48, up 497.11% comparing with the opening balance of
RMB 664,910.37, mainly due to increase in the office decoration expenditures.
(7)Deferred tax assets
The closing balance is recorded as RMB 15,098,051.41, up 50.98% comparing with the opening balance of
RMB 9,999,729.76, mainly due to the recognized deferred assets arising from subsidiary’s operation losses.
(8)Taxes payable
The closing balance is recorded as RMB 7,930,915.90, down 34.17% comparing with the opening balance of
RMB 12,047,677.13, mainly due to the decreased income tax payable.
(9)Other payables
The closing balance is recorded as RMB 52,501,741.84, up 31.93% comparing with the opening balance of
RMB 39,794,789.16, mainly due to the receipts of amounts from disposal of shares held by the Company.
(10)Minority interests
The closing balance is recorded as RMB -423,564.17, with an increase of RMB 1,127,059.68 comparing with
the opening balance of RMB -1,550,623.85. This is mainly because subsidiaries controlled by the Company
begin to make up the deficits and get surpluses or earn more profits.
Other explanations:
Income statement item 01/01/2017-31/12/2017 01/01/2016-31/12/2016 Year-on-year difference (%)
Taxes and levies 4,494,367.68 6,869,959.21 -34.58
Asset impairment loss (reversal) -99,195.10 -1,513,121.69 N/A
Other income 2,457,109.41 - N/A
Non-operating income 1,849,672.45 7,735,362.13 -76.09
Minority interest profit or loss 1,127,059.68 -100,908.10 N/A
Other comprehensive income(loss), net of tax -50,778,639.61 -131,864,218.76 N/A
Reasons for changes in the income statement items
(1) Taxes and levies
Amount for the current period is recorded as RMB 4,494,367.68, down 34.58% comparing with the amount of
RMB 6,869,959.21 for the prior year, mainly due to the separation of price and tax caused by the replacement of
business tax by VAT.
(2) Asset impairment loss (reversal)
Amount for the current period is recorded as RMB -99,195.10, a decrease of RMB 1,413,926.59 comparing
with the amount of RMB -1,513,121.69 for the prior year, mainly due to the reversal of bad debt provisions
made for accounts receivable.
(3) Other income
Amount for the current period is recorded as RMB 2,457,109.41, a decrease of RMB 2,457,109.41 comparing
with the amount of RMB 0 for the prior year. This is mainly because the government grants related to the
enterprises’ daily operating activities are recorded in other income pursuant to the Accounting Standard for
Business Enterprise No.16 - Government Grants (revised) released by MoF in 2017.
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2017 Annual Report
(4) Non-operating income
Amount for the current period is recorded as RMB 1,849,672.45, down 76.09% comparing with the amount of
RMB 7,735,362.13 for the prior period. This is mainly because the government grants related to the enterprises’
daily operating activities are recorded in other income pursuant to the Accounting Standard for Business
Enterprise No.16 - Government Grants (revised) released by MoF in 2017.
(5) Minority interest profit or loss
Amount for the current period is recorded as RMB 1,127,059.68, an increase of RMB 1,227,967.78 comparing
with the amount of RMB -100,908.10 for the prior year. This is mainly because subsidiaries controlled by the
Company begin to make up the deficits and get surpluses or earn more profits.
(6) Other comprehensive income (loss), net of tax
Amount for the current period is recorded as RMB -50,778,639.61, an increase of RMB 81,085,579.15
comparing with the amount of RMB -131,864,218.76 for the prior period, mainly due to the decrease of fair
value of available-for-sale financial assets less than that at the same period of last year.
2. Restriction of main assets as of the end of the reporting period.
□Applicable √Not Applicable
3. Others
√Applicable □Not Applicable
(IV) Industry operation information analysis
□Applicable √Not Applicable
As stated in 2018 National Tourism Work Report, China has been the biggest outbound tourist country and the
fourth greatest inbound tourist host country for many years. It is estimated that the tourism revenue will be
RMB 5.4 trillion in total in 2017, an increase of 2.81 trillion yuan over 2012 with the average annual increase
rate of 15.83%. In 2017, the domestic tourism population reached 5 billion, up 69.12% over 2012, with the
average annual increase rate of 11.08%. The tourism revenue from domestic market was 4.57 trillion, up
101.15％over 2012, with the average annual increase rate of 15%. The inbound tourism population reached 139
million, up 5% over 2012, with the average annual increase rate of 1%, of which the foreigners were 29.1
million, up 7% over 2012, with the average annual increase rate of 1.4%. The outbound tourism population
reached 129 million, an increase of 45.8 million over 2012, with the average annual increase rate of 9.17%
based on the comparable caliber.
(V) Investment analysis
1. General analysis on external equity investments
√Applicable □Not Applicable
See “investments in associated enterprises” in the notes to financial statements and “analysis on main
subsidiaries and investees” in the “Report of the Board of Directors”.
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2017 Annual Report
(1) Significant equity investment
□Applicable √Not Applicable
In accordance with the strategic requirements for effective integration of internal and external resources
formulated by the general meeting of shareholders and the board of directors, the Company acquired 49.3525
million shares of the Bank of Communication in the secondary securities market by its own-financing fund of
RMB 300.0908 million for the period from 15 June 2017 to 21 June 2017 as to optimize the Company’s
financial asset structure, improve the asset liquidity, effectively control investment risks and improve the
utility efficiency of its own funds. After aforementioned additional share acquisition, the Company holds 80
million shares in Bank of Communications in total. Details can refer to the Announcement on the Adjustment
of Financial Asset Structure Through Additional Acquisition of Available-for-sale Financial Assets
(Announcement No. 2017-012) and the Follow-up Announcement for the Adjustment of Financial Asset
Structure Through Additional Acquisition of Available-for-sale Financial Assets (Announcement No.
2017-013) released by the Company on 20 June 2017 and 23 June 2017 respectively.
(2) Significant non-equity investment
□Applicable √Not Applicable
(3) Financial assets measured on fair value basis
√Applicable □Not Applicable
Proporti Proportio
on of n of
ownershi ownershi Change of
Stock Stock Initial investment p interest p interest Gain/loss for the owner’s equity in Accounting
Ending book value Source of stock
code abbr. cost at the at the reporting period the reporting title
beginnin end of period
g of the the year
year (%) (%)
The originally
held corporation
Available shares, acquired
for sale from the
600000 SPDB 53,591,835.20 <1 <1 314,750,000.00 77,402,637.54 54,668,901.01
financial secondary market
assets and converted
to additional
placements
The originally
Available held corporation
for sale shares, additional
601328 BOC 347,184,719.86 <1 <1 496,800,074.52 21,720,003.26 -14,562,854.74
financial placements
assets acquired from the
secondary market
Available
The originally
for sale
600655 YTM 3,936,155.59 <1 <1 124,081,067.28 5,029,287.70 9,229,684.83 held corporation
financial
shares
assets
Available
The originally
for sale
000166 SWHY 2,000,000.00 <1 <1 11,740,028.25 218,622.50 1,442,908.51 held corporation
financial
shares
assets
Total 406,712,710.65 / / 947,371,170.05 104,370,551.00 50,778,639.61 / /
Other explanations:
In accordance with the strategic requirements for effective integration of internal and external resources
formulated by the general meeting of shareholders and the board of directors, with the purpose to activate the
financial assets and increase gains from financial assets, the Company has lent 25 million shares in SPD Bank
(stock code: 600000) and 80.000012 million shares in the Bank of Communication (stock code: 601328)
through security finance companies. Details can refer to the Announcement on the Development of Stock
Lending Business by the Company (Announcement No.: 2017-015) released on 25 July 2017.
19 / 56
2017 Annual Report
(VI) Major assets and equity interest offering
√Applicable □Not applicable
1. The sale of shares of listed companies
Amount of
Amount of
Shares at the the shares
shares mount of the Shares at the
beginning of sold in the Investment
Stock code Name of shares acquired in the used assets period-end Source of stock
the period- reporting income (RMB)
reporting (RMB) (share)
(share) period
period (share)
(share)
The
originally
held
corporation
shares,
acquisitions
SPD Bank
600000 24,885,975 - - 6,811,768 25,000,000 72,785,442.54 from the
(Note)
secondary
market,
transfer of
reserve to
common
shares
The originally
held corporation
shares,
additional
601328 BOC 30,647,500 49,352,512 300,546,859.86 - 80,000,012 placements,
acquisitions
from the
secondary
market
The
originally
Yuyuan
600655 11,954,830 - - 401,658 11,553,172 3,833,804.70 held
shaShares
corporation
shares
Total 76,619,247.24
2. The sale of shares of other listed companies
Amount of
Amount of
Shares at the the shares
shares mount of the Shares at the
beginning of sold in the Investment
Stock code Name of shares acquired in the used assets period-end Source of stock
the period- reporting income (RMB)
reporting (RMB) (share)
(share) period
period (share)
(share)
Successful
603976 Zhengchuan - 329 4,711.28 329 - 9,967.06 purchase of new
shares
Successful
Huangma
603181 - 353 3,657.08 353 - 7,511.86 purchase of new
Technology
shares
Successful
Joinn
603127 - 246 3,077.46 246 - 13,789.74 purchase of new
Laboratories
shares
Successful
603813 Yuanshang - 278 2,728.26 278 - 6,389.91 purchase of new
shares
Successful
Xianghe
603500 - 378 4,978.26 378 - 10,468.99 purchase of new
Industrial
shares
China Academy Successful
603183 of Building - 261 3,539.16 261 - 12,323.46 purchase of new
Research shares
Successful
Zhongyuan
603527 - 362 4,803.74 362 - 7,537.36 purchase of new
New Material
shares
Successful
Tianan New
603725 - 450 4,338.00 450 - 7,852.85 purchase of new
Material
shares
Successful
Kingmed
603882 - 634 4,393.62 634 - 19,719.31 purchase of new
Diagnostics
shares
Successful
603277 Yindu Shares - 454 5,615.98 454 - 6,518.88 purchase of new
shares
Guangdong Successful
603386 - 601 3,744.23 601 - 12,026.06
Champion Asia purchase of new
20 / 56
2017 Annual Report
Electronics shares
Co.,Ltd.
Successful
Changlian
603648 - 1,274 9,389.38 1,274 - 22,192.52 purchase of new
Shares
shares
Zhejiang Meilun Successful
603321 Elevator Co., - 888 5,390.16 888 - 12,994.32 purchase of new
Ltd., shares
Successful
603533 iReader - 293 1,186.65 293 - 14,320.75 purchase of new
shares
Cashway Successful
603106 Technology - 636 6,837.00 636 - 12,520.79 purchase of new
enterprise shares
Successful
Taihua New
603055 - 615 5,564.15 615 - 8,731.08 purchase of new
Material
shares
Dali Successful
603963 Pharmaceutical - 224 2,817.92 224 - 6,344.35 purchase of new
Co.,Ltd. shares
Successful
603157 La Chapelle - 493 4,146.13 493 - 9,185.08 purchase of new
shares
Successful
AONONG
603363 - 490 2,347.10 490 - 8,460.20 purchase of new
shares
Successful
Asia Cuanon
603378 - 574 7,427.56 574 - 12,918.81 purchase of new
shares
Successful
Cisen
603367 - 883 10,295.78 883 - 15,214.58 purchase of new
Pharmaceutical
shares
Successful
601086 Guofang Group - 1,277 4,035.32 1,277 - 11,274.19 purchase of new
shares
Successful
HG
603103 - 581 8,976.45 581 - 14,772.46 purchase of new
Entertainment
shares 入
Successful
Dongfang
603110 - 300 3,912.00 300 - 7,556.49 purchase of new
Materials
shares
Successful
Xianggang
603499 - 280 2,587.20 280 - 6,351.75 purchase of new
Teconology
shares
Successful
603829 Luokai - 440 3,281.20 440 - 7,172.03 purchase of new
shares
Successful
Jianghua New
603683 - 234 2,185.56 234 - 4,975.05 purchase of new
Material
shares
Successful
603466 Feng Yu Zhu - 421 6,971.76 421 - 22,299.62 purchase of new
shares
Suzhou
Successful
Jinhongshun
603922 - 372 6,524.88 372 - 8,088.35 purchase of new
Auto Parts Co.,
shares
Ltd
Successful
Caitong
601108 - 3,771 42,951.69 3,771 - 35,454.77 purchase of new
Securities
shares
Successful
603722 Acryl - 245 2,753.80 245 - 12,569.93 purchase of new
shares
Successful
603607 Jinghua Laser - 240 3,849.60 240 - 9,900.91 purchase of new
shares
Successful
603260 Hoshine Silicon - 589 11,497.28 589 - 32,258.31 purchase of new
shares
TEDERIC Successful
603289 MACHINERY - 526 4,118.58 526 - 10,468.85 purchase of new
CO., LTD., shares
Successful
Lidao New
603937 - 562 5,389.58 562 - 9,106.98 purchase of new
Material
shares
Successful
603912 Jia Li Tu - 413 3,568.32 413 - 9,575.40 purchase of new
shares
Successful
603659 PUTAILAI - 661 10,926.33 661 - 27,560.33 purchase of new
shares
Successful
Zhenjiang
603507 - 228 5,985.00 228 - 7,413.57 purchase of new
Shares
shares
603809 Haoneng Shares - 270 6,045.30 270 - 5,257.69 Successful
21 / 56
2017 Annual Report
purchase of new
shares
Guizhou Gas Successful
600903 Group - 1,269 2,804.49 1,269 - 10,286.94 purchase of new
Corporation Ltd. shares
Successful
Cambridge
603083 - 208 3,130.40 208 7,829.66 purchase of new
Technology
shares
Successful
603278 DAYE SHARES - 547 8,374.57 547 - 8,766.66 purchase of new
shares
Sobute New Successful
603916 Materials Co., - 778 7,017.56 778 - 11,594.62 purchase of new
Ltd shares
Successful
603605 PROYA - 324 4,970.16 324 - 6,256.73 purchase of new
shares
Successful
600933 IDK Co., Ltd - 1,620 17,836.20 1,620 - 14,866.72 purchase of new
shares
Successful
601019 Shandong Press - 2,806 28,508.96 2,806 - 17,201.08 purchase of new
shares
Successful
603365 Mercury - 671 10,736.00 671 - 9,231.15 purchase of new
shares
Successful
603661 Henglin Shares - 246 13,992.48 246 - 11,110.70 purchase of new
shares
Successful
Huaneng
600025 - 15,262 33,118.54 15,262 - 34,389.66 purchase of new
Hydropower
shares
Successful
Chenfeng
603685 - 164 3,450.56 164 - 3,595.33 purchase of new
Technology
shares
Successful
Xiangpiaopiao
603711 - 364 5,161.52 364 - 5,372.31 purchase of new
Food., Ltd
shares
Successful
603848 Hotata - 283 2,232.87 283 - 4,205.03 purchase of new
shares
Successful
603917 Heli Technology - 226 3,213.72 226 - 3,780.03 purchase of new
shares
Suzhou Chunqiu
Successful
Electronic
603890 - 263 6,238.36 263 - 4,954.73 purchase of new
Technology Co.,
shares
Ltd
Successful
KEHUA
603161 - 258 4,321.50 - 258 - purchase of new
HOLDINGS
shares
Successful
603477 Zhenjing Shares - 589 3,286.62 - 589 purchase of new
shares
Successful
603283 Saiteng Shares - 361 2,490.90 - 361 - purchase of new
shares
Successful
Langbo
603655 - 267 1,724.82 - 267 - purchase of new
Technology
shares
Successful
603329 Shanghai ACE - 356 3,752.24 - 356 - purchase of new
shares
Successful
603080 Xinjiang Torch - 358 4,868.80 - 358 - purchase of new
shares
Total 632,485.99
Note: According to the announcement on the implementation of equity distribution for the year of 2016
issued by SPDB on 18 May 2017, the Company distributed a cash dividend of 0.2 yuan (tax-inclusive)
to the registered shareholders, and distribute to all ordinary shareholders 0.3 shares per 10 shares in
capital reserve, thus increasing the shares of the Company by 6,925,793.
2. Other equity sales
On 28 March 2017, the Company signed the Equity Transfer Agreement of Shanghai Huangpu River Cruise Co.,
Ltd. with Shanghai J.Y. Group Company, and transferred its 20% equity in Shanghai Huangpu River Cruise Co.,
Ltd. at the consideration of RMB 15.7024 million yuan. For details, please refer to the announcement on the
transfer of the Company’s 20% of equity in Shanghai Huangpu River Cruise Co., Ltd. disclosed by the
Company on 30 March 2017 (Announcement no. 2017-006).
22 / 56
2017 Annual Report
(VII) Analysis about main subsidiaries and shareholding companies
√Applicable □Not applicable
1. Analysis about main subsidiaries
Unit: RMB
Name of the Main products or
Industry Registered capital Total assets Net assets Net profits
subsidiaries services
SCITS (Note) Service industry Travel business 20,000,000.00 88,997,234.41 38,010,373.55 -5,053,526.76
Jinlv Holdings Service industry Travel business 24,990,000.00 163,108,982.62 4,842,759.97 -17,192,307.47
Shanghai Travel
Service industry Travel business 2,000,000.00 1,718,370.66 -1,766,543.82 -105,025.38
Agency Co., Ltd
Shanghai Huating
Overseas Tourist Co., Service industry Travel business 10,830,738.58 10,620,119.01 7,567,800.13 -103,905.18
Ltd.
Shanghai Guozhilv Property
Property Management Service industry management and 1,000,000.00 11,449,270.34 1,262,806.69 20,945.94
Co., Ltd. upholstering
Shanghai Guozhilv
Freight
International Cargo Service industry 5,000,000.00 3,584,135.20 2,737,966.61 -986,938.01
forwarding
Services Co., Ltd.
Shanghai Guozhilv
Related business
Tour Guide Service Service industry 100,000.00 1,078,389.55 483,886.35 17,942.53
of tour-guide
Co., Ltd.
Tourism
Shanghai SCITS
Service industry advertising 600,000.00 1,227,983.39 1,402,853.99 -5,593.94
Advertising Co., Ltd.
business
Shanghai Jinjiang Related business
Departure and Entry Service industry of departure and 1,000,000.00 5,907,709.50 1,372,391.29 70,197.07
Service Co., Ltd. entry
Beijing Jinjiang
International Travel Service industry Travel business 4,000,000.00 18,724,033.21 -88,476.96 183,669.98
Co., Ltd.
Zhejiang Jinjiang
International Tours Service industry Travel business 5,000,000.00 793,221.98 -140,950.21 4,551.22
Co., Ltd.
Jinjiang International
Green Holiday Travel Service industry Travel business 6,000,000.00 1,151,743.74 -4,061,155.30 -1,191,274.82
Co., Ltd.
Note: To cope with the fierce competition in the industry, and improve the Company’s overall management
quality and efficiency, the Company reformed the business of the travel agencies, and operated under
the brand name of Jinjiang Tourism uniformly while reserving the original name of each travel agency.
Since September 2016, the citizen travel business of SCITS has been integrated to Jinjiang
International Travel.
(2) Analysis about main shareholding companies
Unit: RMB
Change rate of Change rate of Explanation of
Name of the Operating Operating Change rate of
operation operating Net profit changing
subsidiaries revenue income net profits (%)
revenue (%) income (%) reason
Increase in
Shanghai Jinjiang
investment
Business and Travel 319,605,326.7
2.29 32,113,513.60 -2.11 31,080,144.48 7.79 income of the
Automobile Service 0
Company
Co., Ltd.
(VIII) Structured entity controlled by company
□Applicable √Not applicable
23 / 56
2017 Annual Report
III. Discussion and analysis of the company about future development of the Company
(I) Competition and development trends in the industry
√Applicable □Not applicable
According to the analysis of China’s tourism economy in 2017 and forecast of 2018 issued by China Tourism
Academy and the data center of the National Tourism Administration on 19 December 2017, the expectation of
the tourism economy in 2018 is generally optimistic. It is expected that the domestic tourism will continue to
grow, the outbound tourism will grow steadily, the inbound tourism will develop steadily, the tourism
investment will remain high, and the tourism employment will increase steadily. The number of domestic and
inbound tourists is expected to exceed 5.7 billion, and the total tourism revenue is expected to exceed 6 trillion
yuan. Tourism investment will continue to grow rapidly, and 1 million employment opportunities will be
provided.
According to the report, the development of tourism economy in 2018 has five advantages. First, the steady
recovery of the world economy will further strengthen the economic environment of the international tourism
market. Second, the high quality of China's economy will promote a more balanced and fully developed tourism
industry. Third, the strategic position of tourism will be more prominent and the dividend policy will be released
more quickly. Fourth, as an integral part of the Chinese dream, tourism will inject powerful impetus in the
development of the industry. Fifth, the role of tourism will be more prominent as the main force and new
driving force to solve the major contradictions.
China's tourism industry is experiencing an unprecedented historical transformation. First, from extensive to
intensive tourism development. Second, from niche tourism to mass tourism. Third, from spots tourism to
region-based tourism. Fourth, from sightseeing tourism to sightseeing and leisure tourism. Fifth, from a shallow
level to a deep level. Sixth, from a career direction to an industry direction. Seventh, from passively following
the international rules to active international cooperation and tourism diplomacy. Eight, from a big tourism
country to a strong tourism country.
(II) Development strategies of the Company
√Applicable □Not applicable
Tourism macroeconomic is in good condition, the tourism market and product structure will continue to develop
in the direction of new formats; leisure and independent travel will continue its rapid growth, the traditional
travel with the group continued going down. Then enter of development of the tourism industry capital market
and the venture capital, brought changes in acquisitions and asset allocation, travel online platform accelerated
the pace of business development, tourism enterprises’ globalization layout accelerated the pace. Chinese
tourism industry, being thriving in development, has become a significant growth point under the new economic
normality and maintained high-speed development in the future five years.
The Company will continue to focus on travel agency business and carry out relevant business linkage, and
intensify the integration of travel agency business and relevant resources, so as to become a Shanghai-rooted,
domestic leading, and internationally distributed tourism service provider. According to the “Thirteenth
Five-year" strategic development plan made by the Company, the Company's development goal is to become
the leading comprehensive tourist service listed company which aimed at travel agency business and rooted in
Shanghai.
The company will optimize the business model, expend travel agency business through the offline business
integration, online business strategic building and other measures; at the same time, the Company will innovate
the business system, build diversified development pattern that gives priority to the travel agency business along
with the linkage of related business, accelerate the strategic layout and efficiently integrate internal and external
resources.
24 / 56
2017 Annual Report
(III) Operation plan
√Applicable □Not applicable
In 2018, the company will continue to improve the overall quality and management efficiency by encouraging
subordinate travel agency business, strengthening resources management with synergistic effect, enhancing
business interaction, realizing online and offline collaboration, and reinforcing complementary advantages
among different brands, hotels and travel agencies. Make solid progress in the transformation and development
of Jinjiang tourism products and services; develop channels for services to boost the quality and efficiency of
tourism business.
1. Optimizing product service structure with speediness, taping the potentials of traditional services
The company will promote balanced development of various business sectors to form a full range of travel
service. While maintaining its traditional citizens travel business advantages, the company will develop travel
management, convention and exhibition, and inbound tourism business, to improve the overall risk resistance
capacity and grow as a comprehensive tourism service provider; foster new business by incubation, accelerate
the expansion of new business such as tailor-made tour, themed-tour and self-guided tour, to form scale and
drive traditional business transformation. Market-oriented policies will be used to enhance capacity of market
tracking analysis and research and judgement.
2. Utilizing online and offline channels to improve the ability of precision marketing
The company will accelerate the full coverage of the trinity marketing network, select high-quality products to
join the brand cooperation, manage the offline marketing platform precisely, enrich the functions of physical
stores, and strengthen the market image of Jinjiang tourism;; connect with WeHotel, make full use of the
WeHotel platform and jinjiang travel APP, make solid progress in the construction of Rex system, and build the
sales model of multi-category products such as hotels, spot tickets, one-day tour and car rental etc.; boost sales
through Jinjiang hotel website to boom one package service with Jinjiang brand: living in jinjiang, eating in
jinjiang, traveling in jinjiang and enjoying services in Jinjiang.
3. Strengthening the training mechanism to highlight the brand of Jinjiang tourism
The company will support the subordinate travel agencies to carry out comprehensive and diversified business
training and linkage, help operator, sales personnel and tour guide to have a better understanding of the products,
to lay a good foundation for the smooth implementation of tourism services, to realize industry benchmarking
operation and reception team
4. Building a good atmosphere and discipline
The company will follow the spirit of Ruling the country by law and ruling enterprise by law, to strengthen the
construction of the Party's working style and a clean & honest administration, strengthen system building and
process oversight, and implement risk control measures to ensure that we are able to protect ourselves from any
bad situations.
5. Promoting the excellence in performance management and building up a reserve talents team
The company will continue to promote excellence in performance management, and encourage internal
innovation. Pursuant to requirements of excellence in performance management, the company will strengthen
process management and fine management to improve the company's management level continuously.
Strengthen the promotion and training of young employees, to improve the business level of young employees
through various ways, such as work shift, tutoring, internal and external training, interdepartmental discussion
and research, thus building a reserve talents team.
25 / 56
2017 Annual Report
(IV) Possible risks
√Applicable □Not applicable
First, industry risks. Travel agency is rather sensitive of each significant event such as social politics, economics,
culture, safety protection and natural disasters. The occurrence of the paroxysmal domestic and foreign
significant events will directly influence the tourist destinations as well as the tourist generating regions, which
lead to the volatility of the business development of the travel agency.
Second, operation risks. Larger accounts receivable from business operations of travel agencies, market
fluctuation and the decrease of the debtor’s payment ability will all directly affect the recovery of the accounts
receivable. As the labor-intensive enterprises and gradually increase of the labor cost expenses, the travel
agency must maintain a certain development speed. The unfair competitions, low price and low level
competition phenomenon are still exist among the current market with the emerge of the online travel agency
that lead to the further decline of the overall profit margins of the industry.
Third, market competition risk. The traditional travel agency enterprises are seriously affected by the rapidly
developing online travel, and faced with great challenges, the profit margins and market shares are continuously
squeezed, and the policy advantages are gradually reduced. In terms of travel mode, it is also affected by the
upgrade of consumption needs, and the standard travel mode cannot satisfy the consumption needs of most of
the consumers. Therefore, the individual travel mode and development of internet technology cause great
impact on the team travel products.
Fourth, risks of change in the core management staff. The operation of the Company is more emphasis on the
operation department and business staffs. The changes of these departments and staffs will directly affect the
operation scale and performance of the Company.
Fifth, the risk of exchange rate fluctuations. The company's business involves a large number of foreign
exchange transactions and settlement, the RMB exchange rate and the corresponding changes in foreign
exchange will affect the company's costs and benefits.
As for the above risks, the Company strictly executes all rules and regulations through methods such as
strengthening the system construction, perfecting the internal control system, speeding up the development of
products, especially customized and fragmented products, intensifying the incentive and restriction mechanism
as well as discriminating the control points of the significant risks thus to constantly improve the risk prevention,
control and coping capacity.
(V) Others
□Applicable √Not applicable
(VI) Particulars and explanation of company’s non-disclosures due to not applicable to standards or other
special reasons
□Applicable √Not applicable
26 / 56
2017 Annual Report
SectionV. Significant Events
I. Preplan for profit allocation of ordinary shares or turning capital reserve into share capital
(I) Formulation, implementation and adjustment of the cash dividend policy
√Applicable □Not applicable
During the reporting period, the Board of Directors and the General Meeting reviewed and approved the
Plan for 2016 Annual Profit Allocation, in which the cash dividend standard, proportion, decision-making
process, etc. were all in compliance with the relevant laws and regulations and the Company’s Articles of
Association. Translated according to the central parity rate (USD 1 to RMB 6.7971) declared by the People’s
Bank of China on the following working day (9 June 2017) of the resolution day of the Company’s 2016
Annual General Meeting, a cash dividend of USD 0.034132 (tax included) was distributed for every
B-share.
On 12 July 2016, the Company disclosed the Announcement on the Implementation of Profit Distribution in
2016 on Shanghai Securities News and Ta Kung Pao (HK). The last trading day of B shares: 18 July 2017;
ex-dividend date: 19 July 2017; date of record of B shares: 21 July 2017; payment date of the cash dividends
for B-share holders: 28 July 2017. The Company entrusted the Shanghai branch of Securities Depository and
Clearing Co., Ltd. to deliver the dividends for B-share holders. And the cash dividends for the controlling
shareholder were directly granted by the Company.
(II) Plan or preplan about profit distribution in the latest three years (including the reporting period), plan or
preplan about the transfer of capital reserve to common shares
Unit: RMB
Amount of Proportion in Net
Amount of Net profit attributed to
distributed Amount of profit attributed to
distributed Amount of cash shareholders of listed
dividends transferred shareholders of
Year bonus shares dividends company in consolidated
per10 shares shares per10 listed company in
per10 share (tax included) annual statement on
(Yuan)(tax share (share) consolidated
(share) dividends
included) statement (%)
2017 2.34 31,018,167.18 61,228,732.75 50.66
2016 2.32 30,753,054.64 61,137,877.20 50.30
2015 2.30 30,487,942.10 60,752,458.26 50.18
(III) Particulars of repurchase of shares in cash offer recognized in cash dividends
□Applicable √Not applicable
(IV) For profits during the reporting period and with positive distributable profits for ordinary shareholders
in parent company, but did not propose a common stock cash profit distribution preplan, the company
shall disclose the reasons in detail and the use plan of unappropriated profits.
□Applicable √ Not applicable
27 / 56
2017 Annual Report
II. Fulfillment of commitments
(I) Commitments in or sustain to the reporting period in shareholders, actual controllers, directors,
supervisors, senior management or other related parties
√Applicable □Not applicable
Whether Next plan if
Reasons
to the
Is there a that
Commitment Committed perform commitment
Type Content Term performance didn't
background Party timely isn’t
period? perform
and performed
timely
strictly timely
After the
completion of the
acquisition, the
company ensure to
take effective
measures to avoid
possible substantial
competition or
On January 28, 2011, Jinjiang
activities between
International and Jinjiang Hotel
its subordinate
have made the commitment in
enterprises and the
Acquisition report signed at
solve listed company. If
Jinjiang Jinjiang hotel for the acquisition
competition the products or
International, of Jinjiang International No Yes
between services operated in
Jinjiang Hotels state-owned shareholdings
peers the future could
66,556,270 (50.21% in
possibly form the
total shares) by Jinjiang Hotels,
competition with
the commitment will be
listed companies or
effective in the long term
its affiliated
companies, the
listed company has
the right to acquire
the relevant
competitive
business and assets
at a reasonable price
After the
completion of the
acquisition, the
company will
minimize the related
Commitments
transaction with
made in acquisition
listed companies;
report or the report
while carrying the
of equity changes
necessary and On January 28, 2011, Jinjiang
unavoidable related International and Jinjiang Hotel
party transactions, have made the commitment in
the company will Acquisition report signed at
Solve
Jinjiang perform transaction Jinjiang hotel for the acquisition
Related
International, decision-making of Jinjiang International No Yes
party
Jinjiang Hotels procedures and state-owned shareholdings
transaction
information 66,556,270 (50.21% in
disclosure total shares) by Jinjiang Hotels,
according to the the commitment will be
relevant laws, effective in the long term
regulatory
documents and
Articles of
Association, and
promise to operate
fairly based on
market principles
and fair price.
To ensure the
On January 28, 2011, Jinjiang
independence of
International and Jinjiang Hotel
personals from the
have made the commitment in
listed companies,
Acquisition report signed at
the independence of
Jinjiang hotel for the acquisition
Jinjiang the assets,
Others of Jinjiang International No Yes
Hotel independence of
state-owned shareholdings
finance,
66,556,270 (50.21% in
independence of the
total shares) by Jinjiang Hotels,
organization and
the commitment will be
independence of the
effective in the long term
business
28 / 56
2017 Annual Report
(II) For assets or projects which the Company estimates their profits and still within the estimate period as of
the reporting period, the Company shall state whether the estimated profits are achieved and explain
relevant reasons.
□Achieved □Not achieved √Not applicable
III. Capital occupation and debt-clearing progress in the reporting period
□Applicable √ Not applicable
IV. Explanations of the Company for modified audit report issued by accounting firm
□Applicable √ Not applicable
V. Analysis and explanation of the Company for reasons and effects of accounting policy and estimation
change and significant accounting mistakes correction
(I) Analysis and explanation of the Company for reasons and effects of accounting policy and estimation
change
□Applicable √ Not applicable
1. On 10 May 2017, the Ministry of Finance issued the revised Accounting Standard for Business Enterprise
No.16 - Government Grants, which requires that Other Income should be separately presented above the
Operating Profit in the income statement, and the government grants recognized in Other Income should be
reflected in this item. The government grants incurred after 1 January 2017 should be treated on a
prospective basis. The government grants newly increased during 1 January 2017 to the implementation
date of this standard should be adjusted in accordance with this standard.
The Company shall revise the relevant presentation of the financial statements in accordance with
requirements of the notice on the issuance of the revised Accounting Standard for Business Enterprise
No.16 - Government Grants (Cai Kuai [2017] No. 15), present separately the Other Income item above the
Operating Profit in the income statement, and reclassify the effect of government grants related to the daily
operating activities of the enterprise on the profit or loss received since 1 January 2017 from Non-operating
Income to Other Income.
The adjustment didn’t involve the retrospective adjustment of the comparative data in the financial
statements and had no impact on the Company’s financial position, business results and cash flows.
For details, please refer to the announcement on the implementation of the revised 2017 Accounting
Standard for Business Enterprise (Announcement no.2017-025)
2. On 28 April 2017, the Ministry of Finance issued the Accounting Standard for Business Enterprise No.42
Held-for-sale Non-current Assets and Disposal Groups and Discontinued Operations (Cai Kuai [2017] No.
13), which requires that it should be implemented by all the enterprises implementing the Accounting
Standard for Business Enterprise since 28 May 2017. On 25 December 2017, the Ministry of Finance issued
the Notice of the Revised Format of Financial Statements for General Business Enterprise (Cai Kuai (2017)
No. 30, which requires that the non-financial enterprises implementing the Accounting Standards for
Business Enterprise should prepare the financial statements for the year of 2017 and subsequent periods in
accordance with the Accounting Standard for Business Enterprise and the requirements of the notice.
Accounting Standard for Business Enterprise No.42 Held-for-sale Non-current Assets and Disposal Groups
and Discontinued Operations specifies regulations for classifications and measurement of held-for-sale
non-current assets or disposal group, requiring separately present net profit (net loss)arising from continued
operations or discontinued operations in the income statement with detailed disclosures about information
of the held-for-sale non-current assets or disposal group and discontinued operations. This standard requires
prospective approach for accounting treatment, which has no impact on the financial statements for the
comparable years.
29 / 56
2017 Annual Report
The Notice of the Revised Format of Financial Statements for General Business Enterprise requires that the
non-financial enterprises implementing the Accounting Standard for Business Enterprise should prepare the
financial statements for the year of 2017 and subsequent periods in accordance with the Accounting
Standard for Business Enterprise and the requirements of the notice. The gains or losses recognized from
sales of held-for-sale non-current assets (excluding financial instruments, long-term equity investment or
investment properties) or disposal group, and gains or losses arising from disposal of fixed assets,
construction in progress, and intangible assets classified as held-for-sale. According to the requirements of
the Notice of the Revised Format of Financial Statements for General Business Enterprise, the gains or
losses from disposal of non-current assets previously recognized in Non-operating Income or Non-operating
Expense rare reclassified to Income from Disposal of Assets. The Company has accounted for the above
change in presenting accounts retrospectively, and adjusted comparable data for prior year.
The adjustment had an impact only on the presenting items in the financial statements, and had no impact
on the Company’s financial position, business results and cash flows.
(II) Analysis and explanation of the Company for reasons and effect of significant accounting mistakes
correction
□Applicable √ Not applicable
(III) Communication with the previous accounting firms
□Applicable √ Not applicable
(IV) Others
□Applicable √ Not applicable
VI. Particulars about employing or dismissing accounting firm
Unit: RMB
Firm now employed
Name of accounting firm from inside China Deloitte Touche Tohmatsu Certified Public Accountants LLP
Payment to accounting firm from inside China 950,000
Time limit of audit of accounting firm from inside China 24
Name Payment
Deloitte Touche Tohmatsu Certified Public
Internal control audit accounting firm
Accountants LLP
350,000
Explanation of employment and dismissal of the accounting firm
□Applicable √ Not applicable
Explanation for changing the accounting firm in the audit period
□Applicable √Not applicable
VII. Risk of suspended listing
(I) Reasons for suspended listing
□Applicable √Not applicable
(II) Measures that the Company proposed to take
□Applicable √Not applicable
VIII. Risk of delisting and reasons
□Applicable √Not applicable
30 / 56
2017 Annual Report
IX. Matters relating to bankruptcy reorganization
□Applicable √Not applicable
X. Significant lawsuits and arbitrations
□Applicable √ Not applicable
□ Significant lawsuits and arbitrations for the year √ No significant lawsuits and arbitrations for the year
XI. The penalty and rectification of listed Company and its directors, supervisors, senior management,
controlling shareholders, actual controllers and acquirer
□Applicable √ Not applicable
XII. The integrity explanation of the Company and its controlling shareholder, the actual controller in the
reporting period
√Applicable □Not applicable
In the reporting period the Company and its controlling shareholder, the actual controller have no unperformed
effective judgement of the courts or unsettled due debts with large amounts.
XIII. Situation and influence of the Company stock-based compensation plan, employee stock ownership plan
or other employee incentive methods
(I) Relevant incentive events have been disclosed in temporary announcements but made no progress or had
no change in subsequent implementation
□Applicable √Not applicable
(II) Incentive events that haven’t been disclosed in temporary announcements or have subsequent progress
Equity interest incentive events
□Applicable √Not applicable
Others
□Applicable √Not applicable
Employee stock ownership plan
□Applicable √Not applicable
Other employee incentive methods
□Applicable √Not applicable
31 / 56
2017 Annual Report
XIV. Significant related transaction
(I) Related transactions concerning daily operation
1. Events which has been disclosed in temporary announcements but made no progress or had no change in
subsequent implementation
√Applicable □Not applicable
Summary and type of event Query index
On 28 March 2017, the 8th Session of the 8th Board of For details, refer to the Proposal on Routine Related Transaction of the
Directors reviewed and approved the Proposal on Routine Company in Shanghai Securities News and the official site of Shanghai
Related Transaction of the Company. The involved Stock Exchange (www.sse.com.cn) on 30 March 2017. (Announcement
transactions are supporting services, such as passenger no. 2017-004)
transport, hotel, tourism and property among the fellow
subsidiaries and related companies, which are businesses
among the upstream and downstream enterprises or enterprises
of relevant industry.
2. Events which has not been disclosed in temporary announcements but made progress or had change in
subsequent implementation
□Applicable √ Not applicable
3. Events which has not been disclosed in temporary announcements
□Applicable √ Not applicable
(II) Asset or equity acquisition, related transactions of occurred sales
1. Events which has been disclosed in temporary announcements and made no progress or had no
change in subsequent implementation
□Applicable √ Not applicable
2. Events which has been disclosed in temporary announcements but made progress or had change in
subsequent implementation
□Applicable √ Not applicable
3. Events which has not been disclosed in temporary announcements
□Applicable √ Not applicable
4. Performance achievement events involving in performance convention in reporting period which
should be disclosed
□Applicable √ Not applicable
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2017 Annual Report
(III) Significant related transaction of external joint investments
1. Events which has been disclosed in temporary announcements and made no progress or had no
change in subsequent implementation
□Applicable √Not applicable
2. Events which has been disclosed in temporary announcements but made progress or had change in
subsequent implementation
□Applicable √Not applicable
3. Events which has not been disclosed in temporary announcements
□Applicable √Not applicable
(IV) Related creditor's rights and liabilities
1. Events which has been disclosed in temporary announcements and made no progress or had no change in
subsequent implementation
□Applicable √Not applicable
2. Events which has been disclosed in temporary announcements but made progress or had change in
subsequent implementation
□Applicable √Not applicable
3. Events which has not been disclosed in temporary announcements
□Applicable √Not applicable
(V) Others
□Applicable √Not applicable
XV. Significant contracts and execution
(I) Items related to entrustment, contract and lease
1. Entrustment
□Applicable √Not applicable
2. Contract
□Applicable √Not applicable
3. Lease
□Applicable √Not applicable
(II) Particulars about guarantees
□Applicable √Not applicable
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2017 Annual Report
(III) Entrustment of another person to manage the cash assets
1. Trusted management
(1). General condition of trusted management
□Applicable √Not applicable
Others
□Applicable √Not applicable
(2). Individual entrusted management
□Applicable √Not applicable
Others
□Applicable √Not applicable
(3). Impairment provision of entrusted management
□Applicable √Not applicable
2. Trusted loans
(1). General condition of trusted loans
□Applicable √Not applicable
Others
□Applicable √Not applicable
(2). Individual entrusted loans
√Applicable □Not applicable
Whethe
r there Impair
Annua Whethe
Expecte is a plan ment
Sourc l rate Actual r
Starting Expiratio Fund Payment d return Actual for provisio
Entrustee Type Amount e of of return or approve
date n date orientation method (if any) recovery entruste n
funds return loss d
d loans amount
legally
in the (if any)
future
Shanghai
Jinjiang
Internation
Jinjiang
Supplementar al Green
Internation 2,100,000.0 27 March 26 March Own Quarterl 19,524.8 19,524.8 Recovere
y liquidity Holiday 4.04% Yes Yes No
al Finance 0 2016 2017 funds y 2 2 d
loans Travel Co.,
Co., Ltd.
Ltd.
(subsidiary
)
Shanghai
Jinjiang
Internation
Jinjiang
Supplementar al Green
Internation 2,100,000.0 27 March 26 March Own Quarterl 65,315.1 65,315.1
y liquidity Holiday 4.04% Not due Yes Yes No
al Finance 0 2017 2018 funds y 8 8
loans Travel Co.,
Co., Ltd
Ltd.
(subsidiary
)
Shanghai
Jinjiang
Internation
Jinjiang
Supplementar 13 12 al Green
Internation Own Quarterl
y liquidity 700,000.00 Novemb Novemb Holiday 4.04% 3,796.49 3,796.49 Not due Yes Yes No
al Finance funds y
loans er 2017 er 2018 Travel Co.,
Co., Ltd
Ltd.
(subsidiary
)
Others
□Applicable √Not applicable
34 / 56
2017 Annual Report
(3). Impairment provision of entrusted loans
□Applicable √Not applicable
2. Others
□Applicable √Not applicable
(IV) Other significant contracts
□Applicable √ Not applicable
XVI. Other significant events
□Applicable √ Not applicable
XVII. Information of actively fulfill the social responsibility
(I) Poverty alleviation by listed companies
□Applicable √ Not applicable
(II) Social responsibility
√Applicable □Not applicable
The Company plays an active role in fulfilling social responsibility, persists in deepening responsibility
consciousness and improves accountability. The Company has been forging ahead steadily in respect of integrity
management, consumer rights protection, staff care, safety production, investor relations, etc. and made certain
achievements.
Integrity management
The Company always adheres to the value orientation of "responsibility and integrity" in its management by
guiding employees to actively participate in the construction of Shanghai as a metropolis featuring tourism and
culture. Internally, the Company sticks to focus on enterprise cultural construction by actively carrying out staff
education, firmly grasp the correct public opinion direction by holding aloft the banner to advocate the
mainstream opinion as the guidance and direction of public opinion, strives to overcome adverse effect resulted
by sluggish global tourism environment, which is the key to revive morale and take cohesion of people's will
and contradiction resolution as the priority of current management. Externally, the Company focuses on
improving service quality and developing special service taking advantage of the subsidiary travel agency's
brand and strength accumulated in dozens of years, makes use of resource of the tourism industry and fully
applies it in the Company's service through professional and multidimensional tour guide skill training and
demonstrates the dedicated and professional spirit of Shanghai travel industry practitioners by building
outstanding external images to tourists from the country and the world with Shanghai style service
characteristics of striving for perfection.
The subsidiary travel agency won the title of "Five-Star Integrity Enterprise" of Shanghai awarded by
organizing committee of Shanghai "Corporate Integrity" and Shanghai Tourism Industry Association in 2017
and crowned to the Integrity Enterprise Recommendation List in the same year.
35 / 56
2017 Annual Report
Consumer rights protection
In respect of quality control, the Company continues to conduct strict quality control over tourism industry
service, carry out strict training and management over the qualification of tour guide, tour escort and other
practitioners and focus on customer demands and expectations as well as customer complaints to continue
improving the quality of tourism products and services. The Company's quality control system and tourism
service quality have maintained normal and effective control for years.
The Company timely gets in touch with the tourism and hospitality quality though Customer Satisfaction
Survey Template and telephone call-back and continues to improve tourist satisfaction by taking corrective
measures regarding quality problems found promptly.
Staff care
The company has consistently advocated the concept of “staff care and achieving success”. While integrating
the business and resources of its subsidiary travel agency, the Company has conducted nearly 100 heart-to-heart
communication activities including research, conferences and gatherings. Work is done for every party member,
every cadre and employees, and people are encouraged to create an overall atmosphere that fully understands
the significance of reform and fully supports reform and adjustment. The company earnestly carries out relevant
employee welfare management every year, including organizing annual employee medical examinations,
implementation of paid holidays, and issuing company-stipulated benefits on time such as heatstroke cooling
fee distribution. The Company is deeply aware that employees are the core competitiveness of the Company's
development. Every year, it persists in two seasonal consolations of “delivering warmth and coolness” and gives
condolences on the May Day, National Day, and Spring Festival. It is necessary to regularly visit the
hard-pressed people, normalize the assistance to hard-working staff and really solve problems for employees in
trouble.
Safety production system
The Company steadily implemented the Group's "seven requirements", adhered to the "priority of safety and
prevention" and safe business philosophy of full hands-on and comprehensive management", defined safety
production work responsibilities, fulfilled the safety production system, focused on rectification of safety
hazards and promote the standardized construction of safety production. In order to better assist the integration
of subsidiary travel agency, do a good job of all safety work and ensure that production and operation are
“continuous, undisciplined and non-discrete”, the Company has established a work safety management
committee, a working group for stability and public opinion management and a work safety team. The Company
and its affiliated companies continuously strengthen the safety awareness of frontline leaders, catering personnel,
property management personnel and other front-line employees, organize related employees from time to time
to conduct safety training and drills, conduct safety assessments on these personnel and disqualify unqualified
personnel. In addition, the Company combined with the characteristics of travel agencies to strengthen the
control of the entire process of key links before, during and after the trip, focusing on emergency prevention in
traffic, catering, accommodation, tourism and other links to ensure the safety of tourists life, property, food,
travel Enhance the prevention of key sites and potential safety hazards and ensure prevention from the source.
Investor relations
The Company focuses on communication with shareholders and investors by actively participating in the
activities of "Collective Reception Day of listed companies in Shanghai in 2017" by Association of Shanghai
Listed Companies and SSE INF ONET Co., Ltd. to do daily investor telephone reception. The Company always
adhere to the goal of maximizing shareholders’' value by insisting on steady cash dividend each year to protect
the interests of shareholders.
36 / 56
2017 Annual Report
(III) Environmental information
1. Environmental protection of listed company and its subsidiary which belongs to the heavy pollution
industries specified by State Environmental Protection Department
□Applicable √ Not applicable
2. Companies excluding key pollutant discharging units
√Applicable □Not applicable
The Company, in the tourism industry, actively practices the concept of environmental protection in its
operation and promotes civilized travel of tourists; the Company applies the collaborative office platform OA
system to its management, which achieved paperless working in approval of significant matters, file pass round
for perusal and expense reimbursement. The Company does not exist other significant environmental protection
or other significant social security issues.
3. Other explanations
□Applicable √Not applicable
4. Other explanations
□Applicable √Not applicable
XVIII. Convertible corporate bond
(I) Issuance of convertible bond
□Applicable √Not applicable
(II) Convertible bond holder and guarantor during the reporting period
□Applicable √Not applicable
(III) Changes in convertible bond during the reporting period
□Applicable √Not applicable
Accumulated convertible debt-to-equity swap during the reporting period
□Applicable √Not applicable
(IV) Previous adjustment of conversion price
□Applicable √Not applicable
(V) Liabilities, changes in credibility and cash transaction arrangement of debt repayment of the Company in
future years
□Applicable √Not applicable
(VI) Other explanations on convertible bond
□Applicable √Not applicable
37 / 56
2017 Annual Report
SectionVI. Changes in Ordinary Shares and Particulars about Shareholders
I. Changes in ordinary share capital
(I) Changes in ordinary shares
1. Changes in ordinary shares
During the reporting period, there was no change of ordinary shares and share structure.
2. Explanation on changes in ordinary shares
□Applicable √Not applicable
3. Effect of changes in ordinary shares on financial indicators such as earnings per share and net asset per
share in the recent year or for the recent period (if any)
□Applicable √Not applicable
4. Other explanation that is considered necessary by the Company or required by securities regulator for
disclosure
□Applicable √Not applicable
(II) Changes in shares subject to trading moratorium
□Applicable √ Not applicable
II. Particulars about the issuance and listing of securities
(I) The issuance of securities before the end of this reporting period
□Applicable √Not applicable
Explanation on the issuance of securities before the end of this reporting period (please explain respectively
bonds of different interest rate during the duration):
□Applicable √Not applicable
(II) Particulars of changes in the Company’s total ordinary shares, shareholder structure and assets and
liability structure.
□Applicable √Not applicable
(III) Existed shares held by internal employees
□Applicable √Not applicable
38 / 56
2017 Annual Report
III. About shareholders and actual controllers
(I) Number of shareholders and shareholding
Total number of shareholders at the reporting period 13,634
Total number of shareholders on the fifth trading day
13,500
before the disclosure date of the annual report
(II) Particulars about shares held by the top ten shareholders and top ten floating shareholders (or
shareholders holding shares not subject to trading moratorium) at the reporting period
Unit: Share
Particulars about shares held by the top ten shareholders
Increase/de Amount of
Sharehol
crease Number of pledged or frozen Nature of shareholder
Total shares ding
Name of shareholder during the non-tradable shares
held percentag
reporting shares held Shares amo
e (%)
period state unt
Shanghai Jinjiang International Hotels State-owned
0 66,556,270 50.21 66,556,270 Naught 0
(Group) Co., Ltd. corporation
VANGUARD EMERGING MARKETS
0 1,764,490 1.33 0 Unknown Foreign corporation
STOCK INDEX FUND
Domestic natural
Wang Xueling 0 1,042,014 0.79 0 Unknown
person
ISHARES CORE MSCI EMERGING
485,000 901,300 0.68 0 Unknown Foreign corporation
MARKETS ETF
VANGUARD TOTAL
INTERNATIONAL STOCK INDEX 0 754,758 0.57 0 Unknown Foreign corporation
FUND
SHENWAN HONGYUAN
153,700 505,200 0.38 0 Unknown Foreign corporation
NOMINEES (H.K.) LIMITED
Domestic natural
Gao Junquan -28,300 504,000 0.38 0 Unknown
person
Domestic natural
Wang Wen 0 477,509 0.36 0 Unknown
person
0.35 Domestic natural
Huang Chunhui 0 462,882 0 Unknown
person
Domestic natural
Wu Weixing 29,000 384,801 0.29 0 Unknown
person
Particulars about shares held by the top ten shareholders holding shares not subject to trading moratorium
Number of tradable Type and amount of shares
Name of shareholder
shares held type amount
VANGUARD EMERGING MARKETS STOCK INDEX Domestically listed
1,764,490 1,764,490
FUND foreign shares
Domestically listed
Wang Xueling 1,042,014 1,042,014
foreign shares
Domestically listed
ISHARES CORE MSCI EMERGING MARKETS ETF 901,300 901,300
foreign shares
VANGUARD TOTAL INTERNATIONAL STOCK Domestically listed
754,758 754,758
INDEX FUND foreign shares
SHENWAN HONGYUAN NOMINEES (H.K.) Domestically listed
505,200 505,200
LIMITED foreign shares
Domestically listed
Gao Junquan 504,000 504,000
foreign shares
Domestically listed
Wang Wen 477,509 477,509
foreign shares
Domestically listed
Huang Chunhui 462,882 462,882
foreign shares
Domestically listed
Wu Weixing 384,801 384,801
foreign shares
Domestically listed
Qu Chen 372,224 372,224
foreign shares
1. It is unknown whether there was any associated relationship among the top ten
tradable shareholders or whether they are persons acting in concert; 2. It is unknown
Explanation on associated relationship or/and persons acting whether there was any associated relationship among the top 10 shareholders of tradable
in concert among the above-mentioned shareholders share or whether they are persons acting in concert; 3. It is unknown whether there was
any associated relationship between the top 10 shareholders of tradable share and the
top 10 shareholders or whether they are persons acting in concert.
Shares holding amount by the top ten shareholders and the restricted condition
√Applicable □Not applicable
39 / 56
2017 Annual Report
Unit: share
Particulars of non-tradable shares that can
Number of be traded on the market
Name of shareholder holding shares subject to trading Non-tradable
Number non-tradeable Amount of
moratorium Publicly traded condition
shares held new-added Publicly
time
traded shares
Unlisted
1 Shanghai Jinjiang International Hotels (Group) Co., Ltd. 66,556,270 circulating
shares
Explanation on related party relationship or/and consistent actions by
the above-mentioned shareholders
(III) Strategic investors or general legal person who have been included in top 10 shareholders due to
placement of new shares.
□Applicable √Not applicable
IV. Particulars about the controlling shareholder and actual controller
(I) Particulars about the controlling shareholder
1 Corporation
√Applicable □Not applicable
Name of controlling shareholder Shanghai Jinjiang International Hotels (Group) Co., Ltd.
Company principal / legal representative Yu Minliang
Date of establishment Yu Minliang
Business scope Hotel management, hotel investment, investment management of enterprises, domestic
trade, consulting of the self-owned office building, apartment lease, parking, training and
relevant projects; the followings are limited to operate by embranchments: hotel
management, catering, associated shops (retail of cigarettes and wines), western cake houses,
coffee shops, bars, cigar bars, music cafes, hydrotherapy and massage, cosmetology and
hairdressing, recreation rooms, gyms, natatoriums, parking lots management, property
management (those involving administrative licensing should operate with license).
Equity situation of the holding and As at 31 December 2016, the corporation holds 482,007,225 shares of stocks of the listed
participation of other domestic and company Shanghai Jinjiang International Travel (Group) Co., Ltd. (stock code: 600754) and
overseas listed companies during the 212,586,460 shares of stocks of the listed company Shanghai Jinjiang Investment (Group)
reporting period Co., Ltd. (stock code: 600650).
2 Natural person
□Applicable "√ Not applicable"
3 Special explanation of controlling shareholders do exist in the Company
□Applicable "√ Not applicable"
4 Index and date of changes of controlling shareholders in the reporting period
□Applicable "√Not applicable"
40 / 56
2017 Annual Report
5 Block diagram of property and control relations between the Company and actual controllers
√Applicable □Not applicable
Shanghai Jinjiang International Hotels
(Group) Co., Ltd.
50.21%
Shanghai Jinjiang International Travel
Co., Ltd.
(II) Particulars about the actual controller
1 Corporation
√Applicable □Not applicable
Name Shanghai State-owned Assets Supervision and Administration Commission
Shanghai State-owned Assets Supervision and Administration Commission is the ad
hoc institution directly under municipal government. Municipal government granted
Shanghai State-owned Assets Supervision and Administration Commission to carry
Business scope
out the investor responsibility on behalf of municipal government. Shanghai
State-owned Assets Supervision and Administration Commission are responsible for
supervising the municipal state-owned assets.
2 Natural person
□Applicable "√Not applicable"
3 Special explanation of controlling shareholders do exist in the Company
□Applicable "√Not applicable"
4 Index and date of changes of controlling shareholders in the reporting period
□Applicable "√Not applicable"
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2017 Annual Report
5 Block diagram of property and control relations between the Company and actual controllers
√Applicable "□Not applicable"
Shanghai State-owned Assets
Supervision and Administration
Commission
100%
Jinjiang International (Group) Co., Ltd.
75%
Shanghai Jinjiang International Hotels
(Group) Co., Ltd.
50.21%
Shanghai Jinjiang International Travel
Co., Ltd.
6 The Company is controlled by the actual controller through trust or other asset management methods
□Applicable "√Not applicable"
(III) Other particulars about the controlled shareholders and the actual controllers
□Applicable √ Not applicable
V. Other corporate shareholders with shareholding proportion over 10%
□Applicable √ Not applicable
VI. Reduction of shareholding limited
□Applicable √ Not applicable
42 / 56
2017 Annual Report
SectionVII. Particulars about Preference Shares
□Applicable √ Not applicable
43 / 56
2017 Annual Report
SectionVIII. Directors, Supervisors, Senior Management Staff & Employees
I. Changes in shareholdings and particulars about remuneration
(I) Changes in shareholdings and particulars about remuneration of the current directors, supervisors and senior management staff, as well as those leaving during the
reporting period
□Applicable √ Not applicable
Unit: Shares
Total remuneration Whether get paid in the
drawn from the company related party
Shares held Shares held Amount of shares Reason
Company during the
Name Office title Sex Age Start date Ending date at the at the increased/decreased for
reporting period
year-begin year-end for the year change
(RMB’ 0000)
(before tax)
Shao Xiaoming Chairman of the Board Male 59 26 May 2016 25 May 2019 0 0 0 yes
Zhang Qian Vice Chairman of the Male 50 15 August 2017 25 May 2019 0 0 0 yes
Board
Bao Lei Vice Chairman of the Male 47 26 May 2016 25 May 2019 0 0 0 62.80
Board, CEO
Chen Lin Director Male 43 26 May 2016 25 May 2019 0 0 0 yes
Yin Yanhong Director Female 49 15 August 2017 25 May 2019 0 0 0 yes
Zhang Jue Director Female 34 15 August 2017 25 May 2019 0 0 0 yes
Li Dapei Independent director Male 62 26 May 2016 25 May 2019 0 0 0 8.00
Gu Zhongxian Independent director Female 62 26 May 2016 25 May 2019 0 0 0 8.00
Zhang Fan Independent director Female 52 26 May 2016 25 May 2019 0 0 0 8.00
Wang Guoxing Chief supervisor Male 54 15 August 2017 25 May 2019 0 0 0 yes
Zhu Yongjian Supervisor Male 49 26 May 2016 25 May 2019 0 0 0 29.25
Liu Gan Supervisor Male 39 15 August 2017 25 May 2019 0 0 0 yes
Zheng Bei CEO Female 45 15 August 2017 25 May 2019 0 0 0 yes
Zhuang Qi CFO Female 53 26 May 2016 25 May 2019 0 0 0 45.66
Jin Jing Company Secretary Female 36 15 August 2017 25 May 2019 0 0 0 11.25
Total / / / / / 0 0 0 / 172.96 /
Note 1:Zheng Bei, Chief Operating Officer, is still in the process of transferring the personnel relations, thus receiving no remuneration from the Company
during the reporting period;
2. Zhu Yu, Kang Ming, and Zhuang Qi retired from the position of directors of the Company in July 2017; Ye Ming retired from the posit ion of Chairman of
the Supervisory Board of the Company in July 2017; Jin Jing retired from the position of employee supervisor of the Company in July 2017; Wu Xiaoguo
retired in July 2017 from the position of the Company’s vice president; Zhang Hao retired from the position of secretary of the Company’s board of
directors in July 2017;
44 / 56
2017 Annual Report
Name The main work experience of the last five years.
Shao Xiaoming Worked as GM of Jin-Hai-Jet Air International Forwarding Co., Ltd., Vice President of Shanghai Jinjiang International Industrial Investment Co., Ltd., Chairman of the Board, CEO of the Company. Now
he is the Chairman of the Board of Directors both in the Company and in Shanghai Jinjiang International Industry Investment Co., Ltd
Zhang Qian Worked as the director of marketing department of Shanghai Jianguo Hotel Co., Ltd., general manager of Renaissance Yangtze Shanghai Hotel, general manager of InterContinental Shanghai Pudong
Hotel, general manager of Shanghai Jin Jiang Hotel Co., Ltd., general manager of Jin Jiang Tower Hotel. Now he is the vice chairman of the board of directors in the Company, and both the executive
director and CEO in Shanghai Jinjiang International Hotels (Group) Company Limited.
Bao Lei Worked as Assistant to GM, deputy GM of Jinjiang Tower Shanghai, SVP of Shanghai Thayer Jinjiang Interactive Corporation, Ltd., the Vice Chairman of the Board and CEO in Shanghai Jinjiang
International Trading Co., Ltd. and Shanghai Jinjiang International Electronic .Commerce Co., Ltd.. Now he is the Vice Chairman of the Board and CEO in the Company.
Chen Lin Worked as PM, Investor of Shanghai Certified Public Accountants, Senior Manager of Audit Department of Deloitte Touche Tohmatsu Certified Public Accountants, Deputy GM of Financial Department
of Jinjiang International Group, Now he is Director of the Company, Deputy GM of Financing Plan Department, Finance Service Department of Jinjiang International Group, CFO of Shanghai Jinjiang
International Investment Management Co., Ltd., Manager of Financing Plan Department of Jinjiang International Group. Now he is the Director of the Company and CFO of Shanghai Jinjiang
International Industry Investment Co., Ltd.
Yin Yanhong Worked as the auditing department manager and financial manager of Hualian Supermarket Co., Ltd., assistant manager of finance and accounting department and deputy manager in Jinjiang International.
Now she is the director of the Company, and both the CFO and financial administrator in Shanghai Jinjiang International Hotels (Group) Company Limited
Zhang Jue Worked as the securities affairs representative of Shanghai Jin Jiang International Hotels Development Co., Ltd., and both the secretary of the board of directors and deputy director of planning and
development department in Shanghai Jinjiang International Travel Company Limited. Now she is the director of the Company, and both secretary of the board of directors and joint company secretary.
Li Dapei Worked as Assistant President of Investor Education Department of Shanghai Stock Exchange. Now he is the Independent Director of the Company, the Independent Director of Shanghai Shimao Co., Ltd.
Gu Zhongxian Worked as Financial President, Supervisor and Audit Director of Shanghai Industrial and Pharmaceutical Investment Co., Ltd., and Independent Director of Shanghai Haide Control System Co., Ltd.
Shanghai Yongli Belt Industry Co., Ltd., Changshu Fengfan Wind Power Equipment Co., Ltd., and Shanghai Lianming Machinery Co., Ltd. and Hightrend Technology (Shanghai) Co., Ltd. Now he is the
Independent Director of the Company and Shanghai Runda Medical Science and Technology Co., Ltd.
Zhang Fan Worked as a teacher in hotel management department of Shanghai Institute of Tourism. Now she is a Professor in the tourism and leisure management department of Shanghai Institute of Tourism
(Shanghai Normal University Tourism College).
Wang Guoxing Worked as a lecturer of department of finance of Shanghai University of Finance and Economic, the secretary of the board of directors in Shanghai Jin Jiang International Hotels Development Co., Ltd.,
the secretary of the board of directors and deputy director of finance in Shanghai New Asia (Group) Co., Ltd., the deputy director of finance and secretary general (vice-chairman) of the board's executive
committee in Shanghai Jinjiang International (Group) Company Limited. Now he is the supervisory board chairman of the Company, the vice-president of Jinjiang International (Group) Company Limited,
the supervisory board chairman of Shanghai Jinjiang International Hotels (Group) Company Limited, the supervisory board chairman of Shanghai Jin Jiang International Hotels Development Co., Ltd. and
the supervisory board chairman of Shanghai Jin Jiang International Industrial Investment Co., Ltd.
Zhu Yongjian Worked as Financial Executive of Real Estate Business Department and External CFO of Real Estate Business Department of Jinjiang International (Group) Co., Ltd. Now he is the Supervisor and Deputy
Director of the Audit Office of the Company.
Liu Gan Worked as a Deputy Secretary of the party committee and Secretary of Committee for Discipline Inspection in Shanghai China Travel (group) Co., Ltd. Now he is the employee supervisor of the Company,
league secretary of Jinjiang International (Group) Company Limited, a member of the party committee and Secretary of Committee for Discipline Inspection in Shanghai Jinjiang International Travel
Company Limited, and Deputy Secretary and Secretary of Committee for Discipline Inspection in Shanghai Jinjiang Travel Holding Co., Ltd.; and the Secretary of the party committee of CITS Shanghai.
Zheng Bei Worked as a tour guide of Europe and America department, sales manager of representative office of Thomas Cook, deputy manager of Europe and America department in Shanghai CTS, manager of
exhibition and award tourism department, assistant general manager and manager of exhibition and award tourism department, deputy general manager, deputy general manager and general manager in
CITS Shanghai. Now she is the COO of Shanghai Jinjiang International Travel Company Limited, vice chairman and CEO of Shanghai Jinjiang Travel Holding Co., Ltd. as well as Chairman of CITS
Shanghai, etc.
Zhuang Qi Worked as Financial manager of Shanghai Jianguo Hotel Co., Ltd., Deputy supervisor of financing plan department of Shanghai Jin Jiang International Hotels Development Co., Ltd., etc. Now she is the
CFO of the Company and a director of CITS Shanghai, etc.
Jin Jing Worked as English Tour Guide, Deputy Manager of Europe and America Reception Department and GM of inbound tourism center of S hanghai China Int'l Travel Service Ltd. Now she is secretary of the
board of directors and assistant manager of planning and development department of the Company, etc.
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2017 Annual Report
Others
√Applicable "□Not applicable"
The 14th meeting of the 8th Board of Directors of the Company was held on 28 July 2017. The meeting reviewed and passed the Proposal on Adjusting Some Directors of the Company
and the Proposal on Adjusting Some of the Company's Senior Executives that Mr. Zhu Qian, Mr. Kang Ming, and Ms. Zhuang Qi no longer serve as directors of the Company due to job
changes, Mr. Zhu Qian no longer serves as a member of the Company's strategy committee, and Mr. Kang Ming no longer serves as a member of the Company's remuneration and
assessment committee. Mr. Wu Xiaoguo no longer serves as the vice president of the Company and Ms. Zhang Jue no longer serves as secretary of the Company's board of directors due
to job changes.
The 6th meeting of the 8th Supervisory Committee of the Company was held on 28 July 2017. The meeting reviewed and passed the Proposal on Adjusting Some Supervisors of the
Company that Mr. Ye Ming, Chairman of the Board of Supervisors and Ms. Jin Jing, Employee Supervisor no longer serve as Supervisor of the Supervisory Board. After the
deliberation of the enlarged meeting of the Company’s staff congress, Mr. Liu Gan was elected as an employee supervisor of the Company’s supervisory board.
The Company’s first temporary shareholders’ meeting for 2017 was held on 15 August 2017. The meeting reviewed and approved the Proposal on Adjusting Some Directors of the
Company and Proposal on Adjusting Some of the Company's Supervisors. Pursuant to which Mr. Zhang Qian, Ms. Yin Yanhong and Ms. Zhang Jue was added as the director of the 8 th
session of the Board of Directors of the Company, and Mr. Wang Guoxing was added as the supervisor of the 8 th session of the Supervisory Board. The 15th meeting of the 8th Board of
Directors of the Company reviewed and passed the Proposal on Supplementing the Vice Chairman of the 8th Board of Directors of the Company and the Proposal on Engaging the
Senior Managers of the Company. Pursuant to which, Mr. Zhang Qian was added as the Vice Chairman of the 8 th Board of Directors of the Company, Ms. Zheng Bei was appointed as
the Company’s chief operating officer and Ms. Jin Jing was appointed as the Secretary of the board of the Company.
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2017 Annual Report
(I) The directors, supervisors and senior management of equity during the reporting period was granted incentive case
□Applicable √ Not applicable
II. Particulars about post-holding of current directors, supervisors and senior management staff and those who left the office during the reporting period
(I) Post-holding in shareholders’ units
√ Applicable □ Not applicable
Name of the person holding any post in
Name of the shareholder’s unit Position in the shareholder’s unit Beginning date of office term Ending date of office term
any shareholder’s unit
Wang Guoxing Jinjiang Hotel Chairman of supervisory board 2015-09 Up to now
Zhang Qian Jinjiang Hotel Executive director, CEO 2016-07 Up to now
Yin Yanhong Jinjiang Hotel CFO, finance employee in charge 2016-07 Up to now
Zhang Jue Jinjiang Hotel Board secretary, joint company secretary 2017-07 Up to now
Description of duty in shareholders
company
III. Post-holding in other units
√ Applicable □ Not applicable
Name of the person holding any post in
Name of other unit Position in other unit Beginning date of office term Ending date of office term
other units
Wang Guoxing Jinjiang International (Group) Co., Ltd. Vice president 2015-05 Up to now
Shanghai Jin Jiang International Hotels Development
Wang Guoxing Chairman of supervisory board 2015-09 Up to now
Co., Ltd.
Shanghai Jin Jiang International Industrial Investment
Wang Guoxing Chairman of supervisory board 2012-09 Up to now
Co., Ltd.
Shao Xiaoming Jinjiang International (Group) Co., Ltd. Vice President 2015-05 Up to now
Shanghai Jin Jiang International Industrial Investment
Shao Xiaoming Chairman 2015-06 Up to now
Co., Ltd.
Shao Xiaoming Jin Jiang International Commerce Co., Ltd. Vice chairman 2012-05 Up to now
Shao Xiaoming JHJ International Transportation Co., Ltd. Director 2005-09 Up to now
Zhang Qian Jinjiang International (Group) Co., Ltd. Vice president 2015-05 Up to now
Bao Lei Jin Jiang International Commerce Co., Ltd. Vice chairman 2012-05 Up to now
Shanghai Jin Jiang International Industrial Investment
Chen Lin CFO 2016-08 Up to now
Co., Ltd.
Liu Gan Jinjiang International (Group) Co., Ltd. Secretary of Youth League Committee 2016-09 Up to now
Liu Gan CITS Shanghai Secretary of the party committee 2016-09 Up to now
Zheng Bei CITS Shanghai Chairman 2016-10 Up to now
Zhuang Qi CITS Shanghai Director 2015-12 Up to now
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2017 Annual Report
IV. Remuneration for directors, supervisors and senior management staffs
√Applicable □ Not applicable
Decision-making procedure of the remuneration of directors, The remuneration of directors was proposed by the Board of Directors and decided by the Shareholders’ General Meeting, the B oard of Directors and the
supervisors and senior management staffs Remuneration and Appraisal Committee of the Board
The remuneration of senior management personnel (including the members of the board of directors) was reviewed and decided by the Remuneration and
Basis on the remuneration of directors, supervisors and senior Appraisal Committee of the Board; The remuneration of independent director was in line with the Independent Director Allowance Standards reviewed and
management staffs approved by the 2014 Annual General Meeting of Shareholders, The remuneration of supervisor was in line with relevant regulations of the Company staff post
salary.
The Company’s directors, supervisors and senior managers drawing remuneration was cashed strictly in line with the Company's related compensation system,
Particular about actual payment to directors, supervisors and
the disclosure of remuneration was consistent with the actual distribution, the total remuneration payable for the directors, supervisors and senior management
senior management staffs
staffs drawing remuneration from the Company was 1.4896 million.
Total actual remuneration of the directors, supervisors and
The actual total remuneration payable for the directors, supervisors and senior management staffs drawing remuneration from the Company was 1.7296 million.
senior management staffs at the period-end
V. Particulars about changes in the directors, supervisors and senior management staffs of the Company
√Applicable □ Not applicable
Name Position Type of change Reason for change
Zhang Qian Vice chairman Appointment Appointment
Yin Yanhong Director Appointment Appointment
Zhang Jue Director Appointment Appointment
Wang Guoxing Chairman of supervisory board Appointment Appointment
Liu Gan Employee supervisor Appointment Appointment
Zheng Bei COO Appointment Appointment
Jin Jing Board secretary Appointment Appointment
Kang Ming Director Retirement Resignation
Zhu Qian Director Retirement Job change
Zhuang Qi Director Retirement Job change
Ye Ming Chairman of supervisory board Retirement Job change
Jin Jing Employee supervisor Retirement Job change
Wu Xiaoguo Vice president Retirement Job change
Zhang Jue Board secretary Retirement Job change
VI. Particulars of penalty by securities regulator in the past three years
□Applicable √ Not applicable
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2017 Annual Report
VII. Particulars about staffs of the Company and main subsidiaries
(I) About employees
Amount of the incumbent employees of the Company 97
Amount of the incumbent employees of the main subsidiaries 890
Total amount of the incumbent employees 987
The number of retired staff costs of the company and its subsidiaries should bear 611
Professional structure
Category Number
Production personnel 358
Sales personnel 470
Technical personnel 48
Financial personnel 58
Administrative personnel 53
Total 987
Education level
Category Number
Master degree or above 16
Bachelor degree 344
Junior college 412
High school, technical secondary school and below 215
Total 987
(II) Remuneration policy
√Applicable □ Not applicable
Based on the pay policy of “encouraging innovation, prioritizing efficiency, respecting history and balancing
fairness”, the Company implements a salary distribution system that combines post wages and performance
rewards. The pay is set based on the position, and varies with the position with a periodic assessment. Under the
principle of” fixed duty, allocation, position and staff”, the pay for position is determined based on the position
grade, staff capacity, office term and other factors. The performance reward is linked to composition results and
personal contributions, etc. A salary increase mechanism for employees is established by the Company’s
subordinate companies with a collective consultation on wages conducted each year.
(III) Training plan
√Applicable □Not applicable
The Company combines the need of self-development, creates a "learning type enterprise", combines internal
training and external training, sets up hierarchical management, hierarchical training of education training
system. Internal training includes all kinds of training in the enterprise internal organization, such as pre-job
training for new employees, Sales staff business training, product development business training etc.. External
training includes attending all kinds of training organized by training institutions, industrial associations,
regulators and other organizations, such as Annual review and training of tour guides, team leader business
training, financial staff continuing education and after-sales quality management training , etc.
(IV) Outsourced labor service
√Applicable □ Not applicable
Working hours of outsourced labor services 68,742
Total remuneration paid for outsourced labor services(RMB) 1,408,000
VIII. Others
□Applicable √Not applicable
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2017 Annual Report
SectionIX. Corporate Governance
I. Particulars about the corporate governance and registration management for information insiders
√Applicable □Not applicable
During the reporting period, the Company standardized operation continually according to the Company Law,
Securities Law, the Rule of the Governance of Listed Company and other relevant laws, regulations and the
requirements of the standard. The Company's operation and management was in accordance with the
requirement of the governance of listed company regulatory documents of China Securities Regulatory
Commission.
1. About shareholders and shareholders’ general meetings
The Company was seriously paid attention letter and visit, call consultation from shareholders and the reception
work. Continued to strengthen investor relations management, further improved the communication platform
with the shareholders according to Investor Reception Management System, Electronic Communications
System of Investor Relations Work Management System and Investor Relations Work Rules. During the
reporting period, the Company held a shareholders' meeting, perform the corresponding convened, held and
voting procedures, equally treat all shareholders, ensure each shareholders attending the meeting and fully
exercising their rights and voting rights strictly in line with the requirements of Specifications of The
Shareholders’ Meeting, Rule of Procedure of Shareholders Meeting and Articles of Association. The General
Meeting of Shareholders was witnessed by the lawyer who issued legal advice to its legitimacy.
2. About controlling shareholders and listed company
The Company and shareholders should strictly conduct Five Separate, to carry out business, assets, personnel,
organization and financial separately, independently account, independently undertake responsibility and risk.
During the reporting period, there was no controlling shareholder’s non-operating appropriation of Company
funds in the Company.
3. About directors and the board of directors
The Company elected directors strictly in line with established procedure of Company Law and Articles of
Association. The number of the company's board of directors and staff composition was in line with the
requirements of laws and regulations. The Company’s directors according to the Rules of Procedure of The
Board of Directors etc., earnestly attended the meeting of the board, took the responsibility of good faith and
diligence. There were three independent directors in current session of the Board of Directors. The Chairman of
each Special Committee was charged by independent director.
4. About the supervisors and the board of supervisors
The supervisor according to Rules of Procedure of The Board of Supervisors, regularly held meetings of the
board of supervisors, attended the board meetings with serious and responsible attitude; perform responsibility
for the supervision and examination of directors and senior management personnel and the Company's finance.
Give independent opinions, now there is one employee supervisor in the current session of the board of
supervisors.
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2017 Annual Report
5. About the information disclosure and transparency
The Company, according to the Information Disclosure Affairs Management System and other system,
confirmed the duty of disclosure procedures and related personnel, and further perfected the information
disclosure management. The Company disclosed the information strictly, truly, accurately, completely, timely
and fairly in accordance with the relevant regulations, as to implement information disclosure obligations
require to listed companies and actively safeguard the legitimate rights and interests of the Company and
investors.
During the reporting period, the Company in accordance with requirements of the securities regulator's new
regulations and regulatory documents set up Major Mistake Responsibility System of the Company’s Annual
Report Disclosure and Checking and Supervision of Internal Control System further improve the system of
corporate governance.
To regulate the management of the Company insider information sources and external information users,
according to the relevant regulatory requirements the Company set up Management System of the Company
Insider Information Sources and External Information Users to further strengthen registering and recording
insider information sources and external information users. During the reporting period, there was no insider
information source buying or selling shares before the influence of significant and sensitive information
disclosure of the Company's share price.
6. About the special corporate governance activities
According to the requirement of Announcement about Related Matters of Carrying out Special Activities to
Strengthen the Governance of Listed Company issued by CSRC and Announcement about Governance of
Listed Company Special Activities in Shanghai Jurisdiction issued by Shanghai Securities Regulatory Bureau,
the Company deeply launched corporate governance activities.
If there is significant difference between the corporate governance and the requirements of the China Securities
Regulatory Commission, it is required to specify relevant reasons.
□Applicable √Not applicable
II. Particulars about shareholders’ general meetings. The Company governance complies with the
requirements of the Company Law and the China Securities Regulatory Commission.
Disclosure index for the
Disclosure date of the
Session Convening date website publishing the
resolutions
resolutions
The 32nd general meeting of shareholders
8 June 2017 http://www.sse.com.cn 9 June 2017
(2016 general meeting of shareholders）
The 33rd general meeting of shareholders
15 August 2017 http://www.sse.com.cn 16 August 2017
(2017 first extraordinary general meeting of shareholders)
Explanation of general meetings of shareholders
□Applicable √ Not applicable
51 / 56
2017 Annual Report
III. Particulars about duty performance of the directors
(I) Particulars about the directors attending the Board of Directors and the Shareholders’ General Meeting
Particulars about
attending the
Particulars about attending the Board of Directors
Shareholders’
Independe General Meeting
Name of
nt director Failing to
director
or not Presence Presence by Entrusted present in
Due presence Absence
in person telecommunication presence person for two Presence (times)
(times) (times)
(times) (times) (times) consecutive
sessions or not
Shao Xiaoming No 12 3 9 0 0 No 2
Zhang Qian No 4 2 2 0 0 No 1
Bao Lei No 12 3 9 0 0 No 2
Yin Yanhong No 4 2 2 0 0 No 1
Chen Lin No 12 3 9 0 0 No 1
Zhang Jue No 4 2 2 0 0 No 1
Li Dapei Yes 12 3 9 0 0 No 2
Gu Zhongxian Yes 12 3 9 0 0 No 1
Zhang Fan Yes 12 3 9 0 0 No 2
Kang Ming No 8 1 7 0 0 No 1
Zhu Qian No 8 1 7 0 0 No 1
Zhuang Qi No 8 1 7 0 0 No 1
Reasons for failure to present in present in person for two consecutive sessions
□Applicable √Not applicable
Board sessions held during the year (times) 12
Of which: on-site sessions (times) 3
Sessions held by telecommunication (times) 9
Session held by combining the ways of on-site and telecommunication (times) 0
(II) Particulars about independent directors propose objection on relevant events
□Applicable √Not applicable
(III) Others
□Applicable "√Not applicable"
IV. The significant opinion and advices proposed by the special committees under the Board of Directors for
performing duties during the reporting period
√Applicable □Not applicable
During the reporting period, the Company held a total of 3 the Audit Committee Meetings and 1 Remuneration
and Appraisal Committee Meetings. As the special working organization of the board of directors, each special
committee provided important advice and suggestions for annual report audit, internal control system
construction, selecting auditing institution and auditing executive remuneration.
V. Explanation on the Supervisory Committee finding the Company exist risks
□Applicable √Not applicable.
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2017 Annual Report
VI. Explanation of the Company on Failing to Ensure the Independency and Maintain Self-operation ability
with the controlling shareholder in aspects of business, personnel, assets, organization and financing
□Applicable √Not applicable.
Solutions, work progress and subsequent work plan for horizontal competition
□Applicable √Not applicable.
VII. Establishment and implementation of evaluation and incentive mechanism for senior management staff
in the reporting period
√Applicable □ Not applicable
The Company evaluates the performance of senior management staff base on the completion percentage of
goals such as annual financial position, operating results, safety production, and service quality and among
others. The Board of Directors of the Company has set up the Remuneration and Appraisal Committee to
carefully review the remuneration of senior management staff in the report period in accordance with the
relevant laws and regulations. The company will constantly improve of the evaluation and incentive mechanism
of senior management staff as required by the market to promote senior management staff’s diligence, improve
corporate governance, and maximize benefits of shareholders and the Company.
VIII. Disclosure of internal control self-assessment report
√Applicable □Not applicable
Explanation of significant deficiency existed in the internal control during the reporting period
√Applicable □ Not applicable
IX. Audit report of internal control
√Applicable □Not applicable
The company hired Deloitte Touche Tohmatsu Certified Public Accountants LLP to conduct independent audit
of the effectiveness of internal control, and issued an audit report with unqualified opinion. The audit report of
internal control will be disclosed on 29 March 2018 at the Shanghai Stock Exchange website
(www.sse.com.cn).
Whether to disclose the audit report of internal control: Yes
X. Others
□Applicable √Not applicable
53 / 56
2017 Annual Report
SectionX. Information about Company Bond
□Applicable √ Not applicable
54 / 56
2017 Annual Report
Section XI. Financial Statements
I. Auditor’s report (accompanying)
II. Financial statements (accompanying)
III. Notes to the financial statements (accompanying)
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2017 Annual Report
Section XII. List of Documents Available For Inspection
List of Documents Available For Inspection Financial statements with signatures of legal person, the chief financial officer and the head of accounting department.
List of Documents Available For Inspection Original auditor’s report with signatures of accounting firm and certificated accountants
All original documents and announcements of the Company released on newspapers designated by CSRC(China Securities
List of Documents Available For Inspection
Regulatory Commission) during reporting period
Chairman: Shao Xiaoming
Shanghai Jinjiang International Travel Company Limited
Date of Approval by the board：27 March 2018
Other revised information
□Applicable "√Not applicable"
56 / 56
SHANGHAI JINJIANG INTERNATIONAL
TRAVEL COMPANY LIMITED
Financial Statements and Auditors’ Report
For the year ended 31 December 2017
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
FINANCIAL STATEMENTS AND AUDITORS’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2017
CONTENTS PAGE
AUDITORS’ REPORT 1-4
THE CONSOLIDATED AND COMPANY’S BALANCE SHEETS 5-6
THE CONSOLIDATED AND COMPANY’S INCOME STATEMENTS 7-8
THE CONSOLIDATED AND COMPANY’S CASH FLOW STATEMENTS 9 - 10
THE CONSOLIDATED AND COMPANY’S STATEMENTS OF 11 - 12
CHANGES IN SHAREHOLDERS’ EQUITY
NOTES TO THE FINANCIAL STATEMENTS 13 - 79
AUDITORS’ REPORT
De Shi Bao (Shen) Zi (18) No. P01960
(Page 1 of 4)
TO THE SHAREHOLDERS OF
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED：
I. Opinion
We have audited the accompanying financial statements of Shanghai Jinjiang International Travel Company Limited
("Jinjiang Travel"), which comprise of the consolidated and company’s balance sheets as at 31 December 2017, and
the consolidated and company’s income statements, the consolidated and company’s cash flow statements, the
consolidated and company’s statements of changes in shareholders’ equity for the year then ended, and the notes to
the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the consolidated and
company's financial position as of 31 December 2017, and the consolidated and company's results of operations and
cash flows for the year then ended in accordance with Accounting Standards for Business Enterprises.
II. Basis for Opinion
We conducted our audit in accordance with China Standards on Auditing. Our responsibilities under those standards
are further described in the “Auditor's Responsibilities for the Audit of the Financial Statements” section of our
report. We are independent of the Company in accordance with the Code of Ethics for Chinese Institute of Certified
Public Accountants ("the Code"), and we have fulfilled our other ethical responsibilities in accordance with the
Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
III. Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the
financial statements of the current period. These matters were addressed in the context of our audit of the financial
statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these
matters. We determine the followings are key audit matters in need of communication in our report.
Cut-off identification of outbound & domestic tourism revenue and cost
Description
The Company's tourism-related revenue comes from tour group business (including outbound tourism, domestic
tourism and inbound tourism), ticketing and other sporadic services. As described in Note (VI) 27 of the financial
statements, the operating revenue in 2017 was RMB 1,710,185,432.74, including RMB 959,565,146.62 of outbound
and domestic tour group business, accounting for 56.11% of the total.
According to company policy, for outbound and domestic tour group business, the revenue is recognized and costs
are carried forward when the tour group ends its journey with all services completed. Due to the huge sales volume
of the Company's outbound & domestic tour group business, and there is a potential risk of revenue being included
in wrong accounting period. Therefore, we determine the cut-off identification for revenue and cost from outbound
& domestic tour group business as a key audit matter.
Page 1
AUDITORS’ REPORT (Continued)
De Shi Bao (Shen) Zi (18) No. P01960
(Page 2 of 4)
III. Key Audit Matters - continued
Cut-off identification of outbound & domestic tourism revenue and cost - continued
Audit response
With regard to risks of material misstatement associated with the cut-off identification for revenue and cost from
outbound & domestic tour group business, we perform procedures as follows:
1. Test and evaluate the design, implementation and operation efficiency of key internal control related to the cut-off
identification for revenue and cost from outbound & domestic tour group business;
2. Check the amount of revenue and cost of outbound & domestic tour groups recognised in the financial system in
December of the year against the aggregation of tour groups recorded in the business system, and check the return
date of travel groups recorded in the business system on an item-by-item basis to see if the dates are on or before
December 31 of the year. Take the outbound & domestic tour groups, of which the return dates are on and before
December 31 of the year, as samples to conduct overall sampling inspection and track down to the dates recorded in
the business system, and check against the dates in the supporting documents, including sales contracts and
itineraries to see if the key information such as the dates is consistent.
3. Check the amount of revenue and cost of outbound & domestic tour groups recognised in the financial system in
January of the next year against the aggregation of tour groups recorded in the business system, and check the return
date of travel groups recorded in the business system on an item-by-item basis to see if the dates are on or before
December 31 of the year. Take the outbound & domestic tour groups, of which the return dates are on and before
December 31 of the year, as samples to conduct overall sampling inspection and track down to the dates recorded in
the business system, and check against the dates in the supporting documents, including sales contracts and
itineraries to see if the key information such as the dates is consistent.
Deferred tax assets related to deductible losses
Description
As described in Note (VI) 15 of the financial statements, as at 31 December 2017, the balance of deferred tax assets
in consolidated balance sheets is RMB 15,098,051.41, which is related to the deductible losses of Shanghai Jinjiang
Tourism Holding Co., Ltd., the subsidiary of the Company. When recognizing the deferred tax assets related to
deductible losses, deferred tax assets are recognized by the management according to its financial forecasts on future
periods, to the extent that it is probable that future taxable profits will be available against which the deductible
losses can be utilized. Significant judgments are required to be made by management for assessment whether
deferred tax assets can be realized in the future, and there is an uncertainty exsitied in management's estimates and
assumptions.
Audit response
With regard to risks of material misstatement associated with deferred tax assets related to deductible losses, we
perform procedures as follows:
1. Test the design, implementation and operation efficiency of key internal control associated with the preparation
of financial forecasts and the accounting treatment of deferred tax assets;
2. Obtain the income tax annual filing information related to deductible losses and review the accuracy of the
amount of deductible losses;
3. Review the financial forecasts prepared by the management and assess whether it complies with the industry
and its own situations, and verify if the management's calculation of taxable profits that is probable available for
deducting deductible losses in the future is accurate through review of key assumptions regarding revenue and
gross profit in the forecast period; compare if such financial forcasts are consistent with the approved financial
budget, and evaluate their reasonableness;
4. Review the accuracy of accounting treatment related to deferred tax assets.
Page 2
AUDITORS’ REPORT (Continued)
De Shi Bao (Shen) Zi (18) No. P01960
(Page 3 of 4)
IV. Other Information
The management of the Company is responsible for other information. The other information comprises the
information included in the annual report of Shanghai Jinjiang International Travel Company Limited in 2017, but
does not include the financial statements and our auditor's report thereon.
Our opinion on the financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information,
we are required to report that fact. We have nothing to report in this regard.
V. Responsibilities of Management and Those Charged with Governance for the Financial Statements
The management of the Company is responsible for preparing the financial statements in accordance with
Accounting Standards for Business Enterprise to achieve fair presentation of the financial statements and designing,
implementing and maintaining internal control that is necessary to enable the financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the management is responsible for assessing the Company's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the management either intends to liquidate the Company or to cease operations, or have no
realistic alternative but to do so.
Those charged with governance is responsible for supervising the financial reporting process of the Company.
VI. Auditor's Responsibility for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
China Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with China Standards on Auditing, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:
(1) Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
(2) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances.
(3) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the management.
Page 3
AUDITORS’ REPORT (Continued)
De Shi Bao (Shen) Zi (18) No. P01960
(Page 4 of 4)
VI. Auditor's Responsibility for the Audit of the Financial Statements - continued
(4) Conclude on the appropriateness of the management's use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Company's ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained
up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to
continue as a going concern.
(5) Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and
whether the financial statements represent the underlying transactions and events in a manner that achieves fair
presentation.
(6) Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business
activities within the Company to express an opinion on the financial statements. We are responsible for the direction,
supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we identify
during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the financial statements of the current period and are therefore the key audit matters. We
describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a matter should not be communicated in our report
because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits
of such communication.
Deloitte Touche Tohmatsu CPA LLP Chinese Certified Public Accountant:
Shanghai, China (Engagement Partner)
Chinese Certified Public Accountant:
27 March 2018
The auditors’ report and the accompanying financial statements are English translations of the auditors’ report and
statutory financial statements prepared under accounting principles and practices generally accepted in the
People’s Republic of China. These financial statements are not intended to present financial position and results of
operations and cash flows in accordance with accounting principles and practices generally accepted in other
countries and jurisdictions. In case the English version does not conform to the Chinese version, the Chinese
version prevails.
Page 4
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
AT 31 DECEMBER 2017
CONSOLIDATED BALANCE SHEET
Unit: RMB
ITEMS Notes Closing balance Opening balance ITEMS Notes Closing balance Opening balance
Current assets： Current liabilities：
Cash and bank
(VI)1 224,173,241.14 485,439,979.21 Accounts payable (VI)17 76,458,444.24 88,750,224.41
balances
Financial assets at
fair value through 31,071.96 - Receipts in advance (VI)18 159,904,427.22 172,164,000.43
profit or loss
Employee benefits
Accounts receivable (VI)2 103,142,917.34 79,753,861.76 (VI)19 23,945,688.96 26,660,416.08
payable
Prepayments (VI)3 38,171,218.47 67,151,363.98 Taxes payable (VI)20 7,930,915.90 12,047,677.13
Other receivables (VI)4 14,659,151.07 9,902,821.35 Other payables (VI)21 52,501,741.84 39,794,789.16
Inventories (VI)5 249,498.02 299,905.28
Other current assets (VI)6 67,085.49 - Total current liabilities 320,741,218.16 339,417,107.21
Non-current
Total current assets 380,494,183.49 642,547,931.58
liabilities：
Non-current assets： Deferred tax liabilities (VI)15 135,166,077.28 152,093,322.78
Available-for-sale Total non-current
(VI)7 947,428,678.05 730,483,302.60 135,166,077.28 152,093,322.78
financial assets liabilities
Long-term equity
(VI)8 65,402,885.09 74,341,692.57 TOTAL LIABILITIES 455,907,295.44 491,510,429.99
investments
SHAREHOLDERS’
Investment properties (VI)9 145,480,658.62 138,244,076.60
EQUITY：
Fixed assets (VI)10 39,419,058.07 55,628,500.36 Share capital (VI)22 132,556,270.00 132,556,270.00
Construction in
(VI)11 3,970,272.48 664,910.37 Capital reserve (VI)23 199,948,957.53 199,948,957.53
progress
Other comprehensive
Intangible assets (VI)12 78,750.00 658,375.09 (VI)24 405,493,844.55 456,272,484.16
income
Goodwill (VI)13 631,400.11 631,400.11 Surplus reserve (VI)25 147,798,842.16 147,798,842.16
Long-term prepaid
(VI)14 2,068,585.24 1,651,639.89 Retained profits (VI)26 261,757,728.85 231,282,050.74
expenses
Total owners’ equity
Other non-current
(VI)15 15,098,051.41 9,999,729.76 attributable to equity 1,147,555,643.09 1,167,858,604.59
assets
holders of the parent
Other non-current
(VI)16 2,966,851.80 2,966,851.80 Minority interests (423,564.17) (1,550,623.85)
assets
TOTAL
Total non-current
1,222,545,190.87 1,015,270,479.15 SHAREHOLDERS’ 1,147,132,078.92 1,166,307,980.74
assets
EQUITY
TOTAL
LIABILITIES AND
TOTAL ASSETS 1,603,039,374.36 1,657,818,410.73 1,603,039,374.36 1,657,818,410.73
SHAREHOLDERS’
EQUITY
The accompanying notes form part of the financial statements.
The financial statements on page 5 to 79 were signed by the following:
Head of the Company：_________Chief Financial Officer：______Person in charge of the Accounting Body：
_____________
Page 5
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
AT 31 DECEMBER 2017
BALANCE SHEET OF THE COMPANY
Unit: RMB
ITEMS Notes Closing balance Opening balance ITEMS Notes Closing balance Opening balance
Current assets： Current liabilities：
Cash and bank
(XV)1 135,876,526.83 360,852,975.47 Accounts payable 893,426.26 4,734,776.65
balances
Financial assets at
fair value through 31,071.96 - Receipts in advance 49,203,283.43 61,732,013.93
profit or loss
Employee benefits
Accounts receivable (XV)2 1,627,460.07 2,052,952.59 8,171,398.18 10,726,040.57
payable
Prepayments 374,824.00 616,566.41 Taxes payable 6,067,144.78 10,816,101.58
Other receivables (XV)3 4,110,503.35 3,542,269.09 Other payables 44,651,116.41 34,651,535.14
Inventories 26,056.19 35,673.62
Other current assets 2,867,085.49 2,100,000.00 Total current liabilities 108,986,369.06 122,660,467.87
Total current assets 144,913,527.89 369,200,437.18 Non-current liabilities：
Non-current assets： Deferred tax liabilities 135,164,614.85 152,090,828.03
Available-for-sale Total non-current
947,428,678.05 730,483,302.60 135,164,614.85 152,090,828.03
financial assets liabilities
Long-term equity
(XV)4 118,594,444.53 127,533,252.01 TOTAL LIABILITIES 244,150,983.91 274,751,295.90
investments
SHAREHOLDERS’
Investment properties 145,480,658.62 138,244,076.60
EQUITY：
Fixed assets (XV)5 37,733,150.43 52,504,552.28 Share capital (VI)22 132,556,270.00 132,556,270.00
Construction in
838,540.94 664,910.37 Capital reserve 183,076,312.17 183,076,312.17
progress
Other comprehensive (VI)24
Intangible assets 78,750.00 658,375.09 405,493,844.55 456,272,484.16
income
Long-term prepaid
1,935,855.46 1,354,954.47 Surplus reserve 124,813,366.95 124,813,366.95
expenses
Other non-current
(XV)6 2,006,851.80 2,006,851.80 Retained profits 308,919,680.14 251,180,983.22
assets
TOTAL
Total non-current
1,254,096,929.83 1,053,450,275.22 SHAREHOLDERS’ 1,154,859,473.81 1,147,899,416.50
assets
EQUITY
TOTAL LIABILITIES
AND
TOTAL ASSETS 1,399,010,457.72 1,422,650,712.40 1,399,010,457.72 1,422,650,712.40
SHAREHOLDERS’
EQUITY
The accompanying notes form part of the financial statements.
Page 6
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2017
CONSOLIDATED INCOME STATEMENT
Unit: RMB
ITEMS Notes 2017 2016 (Restated)
I. Total operating income (VI)27 1,710,185,432.74 1,907,531,142.26
Less: Operating costs (VI)27 1,576,203,039.49 1,768,005,141.78
Taxes and levies (VI)28 4,494,367.68 6,869,959.21
Selling and distribution expenses (VI)29 120,286,259.41 124,015,398.85
Administrative expenses (VI)30 53,691,765.16 59,365,288.89
Financial expenses (VI)31 (4,526,627.12) (4,327,455.23)
Impairment losses (reversal) of assets (VI)32 (99,195.10) (1,513,121.69)
Add: Investment income 10,627.08 -
Investment income (VI)33 111,852,553.70 110,762,548.90
Including: Income from investment in
6,763,558.52 7,375,865.40
associates and joint venture
Income from disposal of assets 175,077.50 297,373.88
Other income (VI)34 2,457,109.41 -
II. Operating profit 74,631,190.91 66,175,853.23
Add: Non-operating income (VI)35 1,849,672.45 7,735,362.13
Less: Non-operating expenses 289,939.87 471,859.03
III.Total profit 76,190,923.49 73,439,356.33
Less: Income tax expenses (VI)36 13,835,131.06 12,402,387.23
IV.Net profit 62,355,792.43 61,036,969.10
(1) Categorized by the continuity of operation:
Net profit in continued operations 62,355,792.43 61,036,969.10
(2) Categorized by ownership of equity:
Net profit attributable to owners of the Company 61,228,732.75 61,137,877.20
Profit or loss attributable to minority interests 1,127,059.68 (100,908.10)
V.Other comprehensive income, net of tax (VI)24 (50,778,639.61) (131,864,218.76)
OCI attributable to parent shareholder (net of tax) (50,778,639.61) (131,864,218.76)
(1) OCI that can’t be transferred into profit or loss - -
(2). OCI that can be transferred into profit or loss –
profit or loss from changes in fair values of AFS (50,778,639.61) (131,864,218.76)
financial assets
OCI attributable to minority shareholder (net of tax) - -
VITotal comprehensive income 11,577,152.82 (70,827,249.66)
Total comprehensive income attributable to owners
10,450,093.14 (70,726,341.56)
of the Company
Total comprehensive income attributable to
1,127,059.68 (100,908.10)
minority interests
VII.Earnings per share:：
(I) Basic earnings per share 0.4619 0.4612
(II) Diluted earnings per share N/A N/A
The accompanying notes form part of the financial statements
Page 7
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2017
INCOME STATEMENT OF THE COMPANY
Unit: RMB
ITEMS Notes 2017 2016 (Restated)
I.Total operating income (XV)7 341,190,245.73 428,938,697.47
Less: Operating costs (XV)7 318,690,540.70 409,294,153.85
Taxes and levies 2,893,776.59 3,579,473.31
Selling and distribution expenses 8,034,819.60 11,340,264.19
Administrative expenses (XV)8 24,344,153.72 24,466,854.95
Financial expenses (6,460,323.67) (7,314,612.87)
Add: Gains from changes in fair values 10,627.08 -
Investment income (XV)9 111,933,921.28 111,256,027.25
Including: Income from investment in
6,763,558.52 7,375,865.40
associates and joint venture
Income from disposal of assets 175,077.50 159,422.00
II. Operating profit 105,806,904.65 98,988,013.29
Add: Non-operating income (XV)10 1,835,714.36 1,792,713.53
Less: Non-operating expenses 234,922.10 33,346.64
III. Total profit 107,407,696.91 100,747,380.18
Less: Income tax expenses 18,915,945.35 17,153,050.00
IV. Net profit 88,491,751.56 83,594,330.18
In which: Net profit from continuing operations 88,491,751.56 83,594,330.18
V. Other comprehensive income (50,778,639.61) (131,864,218.76)
(1) OCI that can’t be transferred into profit or loss - -
(2) OCI that can be transferred into net income – AFS
(50,778,639.61) (131,864,218.76)
financial assets
VI. Total comprehensive income 37,713,111.95 (48,269,888.58)
The accompanying notes form part of the financial statements
Page 8
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2017
CONSOLIDATED CASH FLOW STATEMENT
Unit: RMB
ITEMS Notes 2017 2016
I.Cash flow from operating activities:：
Cash receipts from sales of goods or rendering of services 1,694,417,956.72 1,920,414,826.97
Other cash received relating to operating activities (VI)37(1) 41,946,689.56 20,743,454.22
Sub-total of cash inflows from operating activities 1,736,364,646.28 1,941,158,281.19
Cash payments for goods purchased and services received 1,577,381,394.07 1,782,170,516.22
Cash payments to and on behalf of employees 142,256,827.05 151,040,912.23
Payments of all types of taxes 35,659,360.77 30,327,572.70
Other cash payments relating to operating activities (VI)37(2) 34,503,882.38 42,421,646.77
Sub-total of cash outflows from operating activities 1,789,801,464.27 2,005,960,647.92
Net cash flow from operating activities (53,436,817.99) (64,802,366.73)
II.Cash flow from investing activities:
Cash receipts from disposals and recovery of investments 358,861,357.93 246,165,474.45
Cash receipts from investments income 27,837,261.95 31,115,186.96
Net cash receipts from disposal of fixed assets, intangible
174,980.00 295,149.88
assets and other long-term assets
Sub-total of cash inflows from investing activities 386,873,599.88 277,575,811.29
Cash payments to acquire and construct fixed assets,
5,555,960.24 643,127.63
intangible assets and other long-term assets
Cash payments to acquire investments 300,577,931.82 250,000,000.00
Sub-total of cash outflows from investing activities 306,133,892.06 250,643,127.63
Net cash flow from investing activities 80,739,707.82 26,932,683.66
III.Cash flow from financing activities:
Cash payments for distribution of dividends or profit or 30,753,054.64 30,487,942.10
interest expenses
Including: Payments for distribution of dividends or profit to
- -
minority owners of subsidiaries
Sub-total of cash outflows from financing activities 30,753,054.64 30,487,942.10
Net cash flow from financing activities (30,753,054.64) (30,487,942.10)
IV.Effect of foreign exchange rate changes on cash and cash (575,199.66) -
equivalents
V.Net increase(decrease) in cash and cash equivalents (4,025,364.47) (68,357,625.17)
Add: Opening balance of cash and cash equivalents (VI)38(2) 216,596,205.61 284,953,830.78
VI.Closing balance of cash and cash equivalents (VI)38(2) 212,570,841.14 216,596,205.61
The accompanying notes form part of the financial statements
Page 9
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2017
CASH FLOW STATEMENT OF THE COMPANY
Unit: RMB
ITEMS Notes 2017 2016
I.Cash flow from operating activities：
Cash receipts from sales of goods or rendering of services 335,276,886.07 422,525,878.63
Other cash receipts relating to operating activities (XV)11(1) 40,359,524.69 12,548,917.32
Sub-total of cash inflows 375,636,410.76 435,074,795.95
Cash payments for goods purchased and services received 332,171,146.67 409,030,436.85
Cash payments to and on behalf of employees 19,503,401.88 25,833,199.95
Payments of all types of taxes 31,673,214.13 21,207,392.11
Other cash payments relating to operating activities (XV)11(2) 4,835,367.88 82,221,710.56
Sub-total of cash outflows 388,183,130.56 538,292,739.47
Net cash flow from operating activities (12,546,719.80) (103,217,943.52)
II.Cash flow from investing activities：
Cash receipts from disposals and recovery of investments 332,461,357.93 247,565,474.45
Cash receipts from investments income 27,918,629.53 31,608,665.31
Net cash receipts from disposal of fixed assets, intangible
12,206.50 161,668.00
assets and other long-term assets
Sub-total of cash inflows from investing activities 360,392,193.96 279,335,807.76
Cash payments to acquire and construct fixed assets,
3,063,339.56 430,983.81
Intangible assets and other long-term assets
Cash payments to acquire investments 304,877,931.82 222,100,000.00
Sub-total of cash outflows from investing activities 307,941,271.38 222,530,983.81
Net cash flow from investing activities 52,450,922.58 56,804,823.95
III.Cash flow from financing activities：
Cash payments for distribution of dividends or profit or
30,753,054.64 30,487,942.10
interest expenses
Sub-total of cash outflows 30,753,054.64 30,487,942.10
Net cash flow from financing activities (30,753,054.64) (30,487,942.10)
IV. Effect of foreign exchange rate changes on cash and cash equivalents (27,596.78) -
V.Net increase(decrease) in cash and cash equivalents 9,123,551.36 (76,901,061.67)
Add: Opening balance of cash and cash equivalents (XV)12(2) 126,052,975.47 202,954,037.14
VI.Closing balance of cash and cash equivalents (XV)12(2) 135,176,526.83 126,052,975.47
The accompanying notes form part of the financial statements
Page 10
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2017
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
Unit: RMB
2017 2016
Attributable to owners of the Company Attributable to owners of the Company
Total Total
ITEMS Other Minority Other Minority
shareholders' shareholders'
Share capital Capital reserve comprehensive Surplus reserve Retained profits interests Share capital Capital reserve comprehensive Surplus reserve Retained profits interests
equity equity
income income
I. Balance at the
132,556,270.00 199,948,957.53 456,272,484.16 147,798,842.16 231,282,050.74 (1,550,623.85) 1,166,307,980.74 132,556,270.00 199,948,957.53 588,136,702.92 147,798,842.16 200,632,115.64 (1,449,715.75) 1,267,623,172.50
beginning of the year
II.Changes for the year - - (50,778,639.61) - 30,475,678.11 1,127,059.68 (19,175,901.82) - - (131,864,218.76) - 30,649,935.10 (100,908.10) (101,315,191.76)
(I) Total comprehensive
- - (50,778,639.61) - 61,228,732.75 1,127,059.68 11,577,152.82 - - (131,864,218.76) - 61,137,877.20 (100,908.10) (70,827,249.66)
income
(II) Owner's contributions
- - - - - - - - - - - - - -
and reduction in capital
1. Owner's capital
- - - - - - - - - - - - - -
contributions
2. Business combination
not involving common - - - - - - - - - - - - - -
control
(III) Profit distribution - - - - (30,753,054.64) - (30,753,054.64) - - - - (30,487,942.10) - (30,487,942.10)
1．Transfer to surplus
- - - - - - - - - - - - - -
reserve
2．Distribution to
- - - - (30,753,054.64) - (30,753,054.64) - - - - (30,487,942.10) - (30,487,942.10)
shareholders
III.Balance at the end of
132,556,270.00 199,948,957.53 405,493,844.55 147,798,842.16 261,757,728.85 (423,564.17) 1,147,132,078.92 132,556,270.00 199,948,957.53 456,272,484.16 147,798,842.16 231,282,050.74 (1,550,623.85) 1,166,307,980.74
the year
The accompanying notes form part of the financial statements.
Page 11
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2017
COMPANY’S STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
Unit: RMB
2017 2016
Other Other
ITEMS Total shareholders' Total shareholders'
Share capital Capital reserve Comprehensive Surplus reserve Retained profits Share capital Capital reserve Comprehensive Surplus reserve Retained profits
equity equity
income income
I.Balance at the beginning
132,556,270.00 183,076,312.17 456,272,484.16 124,813,366.95 251,180,983.22 1,147,899,416.50 132,556,270.00 183,076,312.17 588,136,702.92 124,813,366.95 198,074,595.14 1,226,657,247.18
of the year
II.Changes for the year - - (50,778,639.61) - 57,738,696.92 6,960,057.31 - - (131,864,218.76) - 53,106,388.08 (78,757,830.68)
(I) Total comprehensive
- - (50,778,639.61) - 88,491,751.56 37,713,111.95 - - (131,864,218.76) - 83,594,330.18 (48,269,888.58)
income
(II) Profit distribution - - - - (30,753,054.64) (30,753,054.64) - - - - (30,487,942.10) (30,487,942.10)
1．Transfer to surplus
- - - - - - - - - - - -
reserve
2．Distribution to
- - - - (30,753,054.64) (30,753,054.64) - - - - (30,487,942.10) (30,487,942.10)
shareholders
III.Balance at the end of
132,556,270.00 183,076,312.17 405,493,844.55 124,813,366.95 308,919,680.14 1,154,859,473.81 132,556,270.00 183,076,312.17 456,272,484.16 124,813,366.95 251,180,983.22 1,147,899,416.50
the year
The accompanying notes form part of the financial statements.
Page 12
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
I. GENERAL
Shanghai Jinjiang International Travel Company Limited (“the Company”) was established through
restructuring with CITS as the major sponsor in August 1994, in which the major sponsor invested its net assets
into the Company which was equivalent to legal person share of 60.50 million stocks. The headquarters is
located in Shanghai with registered address as 27F, Lianyi Building, No. 100 Yanan East Road, Shanghai. On 28
September 1994, the Company was listed on Shanghai Stock Exchange with 60 million B shares issued; On 8
June 1998, the Company distributed 1 dividend share out of every ten shares, after which the total shares of the
Company amounted to 132.56 million shares.
On 14 February 2011, Jinjiang International (Group) Co., Ltd (“Jin Jiang International”) transferred 66,556,270
(50.21% of total shares) state-owned legal person shares to Shanghai Jinjiang International Hotels (Group) Co.,
Ltd (“Jin Jiang Hotels (Group)”), and Jinjiang Hotels (Group) has become the holding company of the
Company, and Jinjiang International has become the ultimate holding company of the Company.
Details of the share capital of the Company refer to Note (VI) 22.
The principle business of the Company and its subsidiaries (“the Group”) include international and domestic
travel and travel agency, ticket agency, property leasing and trading.
The consolidated and company’s financial statements of the Group has been approved by board of directors of
the Company on 27 March 2018.
For the Scope of the consolidated financial statements, please refer to Note (VII) "Interests in other entities".
II. BASIS OF PREPARATION OF FINANCIAL STATEMENTS
Basis of preparation of financial statements
The Group has adopted Accounting Standards for Business Enterprises issued by the Ministry of Finance
revised in 2014. In addition, the Group has disclosed the financial information in accordance with Information
Disclosure and Presentation Rules for Companies Offering Securities to the Public No. 15－General Provisions
on Financial Reporting (Revised in 2014).
Basis of accounting and principle of measurement
The Group has adopted the accrual basis of accounting. Except for certain financial instruments which are
measured at fair value, the Group has adopted the historical cost as the principle of measurement of the financial
statements. Where assets are impaired, provisions for asset impairment are made in accordance with relevant
requirements.
Where the historical cost is adopted as the measurement basis, assets are recorded at the amount of cash or cash
equivalents paid or the fair value of the consideration given to acquire them at the time of their acquisition.
Liabilities are recorded at the amount of proceeds or assets received or the contractual amounts for assuming the
present obligation, or, at the amounts of cash or cash equivalents expected to be paid to settle the liabilities in
the normal course of business.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date, regardless of whether that price is directly
observed or estimated using another valuation technique. Fair value measurement and disclosure in the financial
statements are determined according to the above basis.
Page 13
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
II. BASIS OF PREPARATION OF FINANCIAL STATEMENTS - continued
Basis of accounting and principle of measurement - continued
Fair value measurements are categorized into Level 1, 2 or 3 based on the degrees to which the inputs to the fair
value measurements are observable and the significance of the inputs to the fair value measurement in its
entirety, which are described as follows:
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the
entity can access at the measurement date;
Level 2 inputs are inputs, other than quoted prices included with Level 1, which are observable for the
asset and liability, either directly or indirectly;
Level 3 inputs are unobservable inputs for the asset or liability.
Going concern
The Group assessed its ability to continue as a going concern for the 12 months from 31 December 2017 and
did not notice any events or circumstances that may cast significant doubt upon its ability to continue as a going
concern. Therefore, the financial statements have been prepared on a going concern basis.
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES
1. Statement of compliance with the Accounting Standards for Business Enterprises
The financial statements of the Company have been prepared in accordance with the Accounting Standards for
Business Enterprises, and present truly and completely, the Company’s and Consolidated financial position as of
31 December 2016, and the Company’s and Consolidated results of operations and cash flows for the year then
ended.
2. Accounting period
The Group has adopted the calendar year as its accounting year, i.e. from January 1 to December 31.
3. Operating cycle
Operating cycle refers to the time period from providing tour or related services to the collection of cash or cash
equivalents. For the Group, the operating cycle is less than 12 months. The Group uses 12 months as the criteria
to determine the liquidation of assets and liabilities.
4. Functional currency
Renminbi (“RMB”) is the currency of the primary economic environment in which the Group operates. The
functional currency of the Company and its subsidiaries is RMB. RMB is used as reporting currency to prepare
this financial statements.
5. The accounting treatment of business combination involving enterprises under common control
and business combination not involving enterprises under common control
Business combinations are classified into business combinations involving enterprises under common control
and business combinations not involving enterprises under common control.
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SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
5. Business combinations - continued
5.1 A business combination involving enterprises under common control
A business combination involving enterprises under common control is a business combination in which all of
the combining enterprises are ultimately controlled by the same party or parties both before and after the
combination, and that control is not transitory.
Assets and liabilities that are obtained in a business combination are measured at their carrying amounts at the
combination date as recorded by the party being absorbed. The difference between the carrying amount of the
net assets obtained and the carrying amount of the consideration paid for the combination is adjusted to capital
premium in capital reserve. If the capital premium in capital reserve is not sufficient to absorb the difference,
any excess is adjusted against retained earnings.
Costs incurred that are directly attributable to the combination are charged to profit or loss in the period in
which they are incurred.
5.2 A business combination not involving enterprises under common control and goodwill
A business combination not involving enterprises under common control is a business combination in which all
of the combining enterprises are not ultimately controlled by the same party or parties before and after the
combination.
The cost of combination is the aggregate of the fair values, at the acquisition date, of the assets given, liabilities
incurred or assumed, and equity securities issued by the acquirer, in exchange for control of the acquiree. Costs
incurred by the absorbing party that are directly attributable to the combination, including audit fees, valuation
fees and legal fees, shall be charged to profit or loss in the period in which they are incurred.
The acquiree’s identifiable assets, liabilities and contingent liabilities that satisfy the recognition criteria, which
are acquired in a business combination, are measured at their fair value at the acquisition date.
Where the cost of combination exceeds the acquirer’s interest in the fair value of the acquiree’s identifiable net
assets, the difference is recognized as goodwill and initially measured at cost. Where the cost of combination is
less than the acquirer’s interest in the fair value of the acquiree’s identifiable net assets, the difference is
accounted for as follows: firstly, the acquirer reassesses the measurement of the fair values of the acquiree’s
identifiable assets, liabilities and contingent liabilities and measurement of the cost of combination; then, if after
that reassessment, the cost of combination is still less than the acquirer’s interest in the fair value of the
acquiree’s identifiable net assets, the acquirer recognises the remaining difference immediately in profit or loss
for the current period.
Goodwill arising on a business combination is measured at cost less accumulated impairment losses, and is
presented separately in the consolidated financial statements.
6. Preparation of consolidated financial statements
The scope of consolidation in the consolidated financial statements is determined on the basis of control.
Control exists when the investor has power over the investee; is exposed, or has rights, to variable returns from
its involvement with the investee; and has the ability to use its power over the investee to affect its returns. The
Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes
of the above elements of the definition of control.
Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the
Group loses control of the subsidiary.
Page 15
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
6. Preparation of consolidated financial statements - continued
For a subsidiary disposed of by the Group, the operating results and cash flows before the date of disposal (the
date when control is lost) are included in the consolidated income statement and consolidated statement of cash
flows, as appropriate.
For a subsidiary acquired through a business combination not involving enterprises under common control, the
operating results and cash flows from the acquisition date (the date when control is obtained) are included in the
consolidated income statement and consolidated statement of cash flows, as appropriate.
No matter when the business combination occurs in the reporting period, subsidiaries or acquiree acquired
through a business combination involving enterprises under common control are included in the Group's scope
of consolidation as if they had been included in the scope of consolidation from the date when they first came
under the common control of the ultimate controlling party. Their operating results and cash flows from the
beginning of the earliest reporting period or from the date when they first came under the common control of
the ultimate controlling party are included in the consolidated income statement and consolidated statement of
cash flows, as appropriate.
The significant accounting policies and accounting periods adopted by the subsidiaries are determined based on
the uniform accounting policies and accounting periods set out by the Company.
All significant intra-group accounts and transactions between the Company and its subsidiaries or between
subsidiaries are eliminated on consolidation.
The portion of a subsidiary’s equity that is not attributable to the parent is treated as minority interest and
presented as “minority interest” in the consolidated balance sheet within shareholders’ equity. The portion of net
profits or losses of subsidiaries for the period attributable to minority interest is presented in the consolidated
income statement below the "net profit" line item as “minority interest”.
When the amount of loss attributable to the minority shareholders of a subsidiary exceeds the minority
shareholders’ portion of the opening balance of owners' equity of the subsidiary, the excess amount is still
allocated against minority interest.
Changes in a parent’s ownership interest in a subsidiary caused by purchase of minority interests or disposal of
part of the investment that do not result in the loss of control are accounted for within equity, and the carrying
amount of owners' equity attributable to equity holders of the parent and minority interests should be adjusted to
reflect the changes. The difference between the adjustment of minority interests and the fair value of the
consideration paid or received is adjusted to capital reserve. If the capital reserve is not sufficient to absorb the
difference, the excess are adjusted against retained earnings.
When an entity loses control of a subsidiary resulting from the disposal of part of the investment or other
reasons, the investment retained in the former subsidiary is remeasured at its fair value at the date when control
is lost. The difference between the sum of the consideration received from the disposal of the investment and the
fair value of the investment retained in the former subsidiary, and the shares of the net assets calculated
according to former proportion of the ownership interest is recognized in the investment income at the date
when control is lost. Amounts arising from interests in the acquiree prior to the acquisition date that have
previously been recognized in other comprehensive income are reclassified to investment income when the
control is lost.
7. Recognition criteria of cash and cash equivalents
Cash comprises cash on hand and deposits that can be readily withdrawn on demand. Cash equivalents are
short-term, highly liquid investments that are readily convertible to known amounts of cash and which are
subject to an insignificant risk of change in value.
Page 16
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
8. Transactions denominated in foreign currencies
On initial recognition, foreign currency transactions are translated by applying the spot exchange rate at the
dates of the transactions.
At the balance sheet date, foreign currency monetary items are translated into RMB using the spot exchange
rates at the balance sheet date. Exchange differences arising from the differences between the spot exchange
rates prevailing at the balance sheet date and those on initial recognition or at the previous balance sheet date
are recognised in profit or loss for the period.
Foreign currency non-monetary items measured at historical cost are translated to the amounts in functional
currency at the spot exchange rates on the dates of the transactions and the amounts in functional currency
remain unchanged.
9. Financial instruments
The Group shall recognize a financial asset or a financial liability when the Group becomes a party to the
contractual provisions of the financial instrument. When a financial asset or financial liability is recognized
initially, the Group shall measure it at its fair value. In the case of a financial asset or financial liability at fair
value through profit or loss, transaction costs shall be charged to the profit or loss for the period. For other
financial assets or financial liabilities, transaction costs shall be included in their initial recognition amounts.
9.1 Effective interest method
The effective interest method is a method of calculating the amortized cost of a financial asset or a financial
liability (or group of financial assets or liabilities) and of allocating the interest income or interest expense over
the relevant period, using the effective interest rate. The effective interest rate is the rate that exactly discounts
estimated future cash payments or receipts through the expected life of the financial instrument or, when
appropriate, a shorter period to the net carrying amount of the financial asset or financial liability.
When calculating the effective interest rate, the Group estimates future cash flows considering all contractual
terms of the financial asset or financial liability (without considering future credit losses), and also considers all
fees paid or received between the parties to the contract giving rise to the financial asset and financial liability
that are an integral part of the effective interest rate, transaction costs, and premiums or discounts, etc.
9.2 Classification, recognition and measurement of financial assets
On initial recognition, financial assets are classified into the following categories: financial assets at ‘fair value
through profit or loss’ (FVTPL), ‘held-to-maturity’ investments, ‘loans and receivables’ and ‘available-for-sale’
(AFS) financial assets. All regular way purchases or sales of financial assets are recognized and derecognized
on a trade date basis. The Group, as for now, holds no held-to-maturity investment.
Page 17
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.2.1 Financial assets at FVTPL
Financial assets at FVTPL include financial assets held for trading and those designated as at fair value through
profit or loss.
A financial asset is classified as held for trading if one of the following conditions is satisfied: (1) It has been
acquired principally for the purpose of selling in the near term; or (2) On initial recognition it is part of a
portfolio of identified financial instruments that the Group manages together and there is objective evidence that
the Group has a recent actual pattern of short-term profit-taking; or (3) It is a derivative that is not designated
and effective as a hedging instrument, or a financial guarantee contract, or a derivative that is linked to and must
be settled by delivery of an unquoted equity instrument (without a quoted price in an active market) whose fair
value cannot be reliably measured.
A financial asset may be designated as at FVTPL upon initial recognition only when one of the following
conditions is satisfied: (1) Such designation eliminates or significantly reduces a measurement or recognition
inconsistency that would otherwise result from measuring assets or recognizing the gains or losses on them on
different bases; (2) The financial asset forms part of a group of financial assets or a group of financial assets and
financial liabilities, which is managed and its performance is evaluated on a fair value basis, in accordance with
the Group's documented risk management or investment strategy, and information about the grouping is
reported to key management personnel on that basis; or (3) it is a qualifying hybrid instrument containing
embedded derivatives.
Financial assets at FVTPL are subsequently measured at fair value. Any gains or losses arising from changes in
the fair value and any dividend or interest income earned on the financial assets are recognized in profit or loss.
9.2.2 Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not
quoted in an active market. Financial assets classified as loans and receivables by the Group include accounts
receivable, other receivables and entrusted loans.
Loans and receivables are subsequently measured at amortized cost using the effective interest method. Gains or
losses arising from derecognition, impairment or amortization are recognized in profit or loss for the current
period.
9.2.3 AFS financial assets
Available-for-sale financial assets include financial assets that are not classified as financial assets at fair value
through profit or loss, loans and receivables or held-to-maturity investments.
Available-for-sale financial assets are subsequently measured at fair value, and gains or losses arising from
changes in the fair value are recognized as other comprehensive income, except that impairment losses and
exchange differences related to amortized cost of monetary financial assets denominated in foreign currencies
are recognized in profit or loss, until the financial assets are derecognized, at which time the gains or losses are
released and recognized in profit or loss.
Interest received during the period in which the Group holds the AFS financial assets and cash dividends
declared by the investee are recognized as investment income.
For investments in equity instruments that do not have a quoted market price in an active market and whose fair
value cannot be reliably measured, they are measured at cost.
Page 18
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.3 Impairment of financial assets
The Group assesses at each balance sheet date the carrying amounts of financial assets other than those at fair
value through profit or loss. If there is objective evidence that a financial asset is impaired, the Group
determines the amount of any impairment loss. Objective evidence that a financial asset is impaired is evidence
that, arising from one or more events that occurred after the initial recognition of the asset, the estimated future
cash flows of the financial asset, which can be reliably measured, have been affected.
Objective evidence that a financial asset is impaired includes the following observable events:
(1) Significant financial difficulty of the issuer or obligor;
(2) A breach of contract by the borrower, such as a default or delinquency in interest or principal payments;
(3) The Group, for economic or legal reasons relating to the borrower’s financial difficulty, granting a
concession to the borrower;
(4) It becoming probable that the borrower will enter bankruptcy or other financial reorganizations;
(5) The disappearance of an active market for that financial asset because of financial difficulties of the issuer;
(6) Upon an overall assessment of a group of financial assets, observable data indicates that there is a
measurable decrease in the estimated future cash flows from the group of financial assets since the initial
recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in
the group. Such observable data includes:
- Adverse changes in the payment status of borrower in the group of assets;
- Economic conditions in the country or region of the borrower which may lead to a failure to pay the
group of assets;
(7) Significant adverse changes in the technological, market, economic or legal environment in which the equity
instrument issuer operates, indicating that the cost of the investment in the equity instrument may not be
recovered by the investor;
(8) A significant or prolonged decline in the fair value of an investment in an equity instrument below its cost,
Namely, at the balance sheet date, decline in fair value of an equity investment exceeds 50%(inclusive) or the
prolonged decline is more than 12 months(inclusive);
(9) Other objective evidence indicating there is an impairment of a financial asset.
Impairment of financial assets measured at amortized cost
If financial assets carried at amortized cost are impaired, the carrying amounts of the financial assets are
reduced to the present value of estimated future cash flows (excluding future credit losses that have not been
incurred) discounted at the financial asset's original effective interest rate. The amount of reduction is
recognized as an impairment loss in profit or loss. If, subsequent to the recognition of an impairment loss on
financial assets carried at amortized cost, there is objective evidence of a recovery in value of the financial
assets which can be related objectively to an event occurring after the impairment is recognized, the previously
recognized impairment loss is reversed. However, the reversal is made to the extent that the carrying amount of
the financial asset at the date the impairment is reversed does not exceed what the amortized cost would have
been had the impairment not been recognized.
For a financial asset that is individually significant, the Group assesses the asset individually for impairment.
For a financial asset that is not individually significant, the Group assesses the asset individually for impairment
or includes the asset in a group of financial assets with similar credit risk characteristics and collectively
assesses them for impairment. If the Group determines that no objective evidence of impairment exists for an
individually assessed financial asset (whether significant or not), it includes the asset in a group of financial
assets with similar credit risk characteristics and collectively reassesses them for impairment. Assets for which
an impairment loss is individually recognized are not included in a group of financial assets with similar credit
risk characteristics for collective assessment of impairment.
Page 19
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.3 Impairment of financial assets - continued
Impairment of available-for-sale financial assets
When an available-for-sale financial asset is impaired, the cumulative loss arising from decline in fair value
previously recognized directly in other comprehensive income is reclassified from other comprehensive income
to profit or loss. The amount of the cumulative loss that is reclassified from comprehensive income to profit or
loss is the difference between the acquisition cost (net of any principal repayment and amortization) and the
current fair value, less any impairment loss on that financial asset previously recognized in profit or loss.
If, subsequent to the recognition of an impairment loss on available-for-sale financial assets, there is objective
evidence of a recovery in value of the financial assets which can be related objectively to an event occurring
after the impairment is recognized, the previously recognized impairment loss is reversed. The amount of
reversal of impairment loss on available-for-sale equity instruments is recognized as other comprehensive
income, while the amount of reversal of impairment loss on available-for-sale debt instruments is recognized in
profit or loss.
Impairment of financial assets measured at cost
If an impairment loss has been incurred on an investment in unquoted equity instrument (without a quoted price
in an active market) whose fair value cannot be reliably measured, or on a derivative financial asset that is
linked to and must be settled by delivery of such an unquoted equity instrument, the carrying amount of the
financial asset is reduced to the present value of estimated future cash flows discounted at the current market
rate of return for a similar financial asset. The amount of reduction is recognized as an impairment loss in profit
or loss. The impairment loss on such financial asset is not reversed once it is recognized.
9.4 Transfer of financial assets
The Group derecognizes a financial asset only when: (1) the contractual rights to the cash flows from the
financial asset expire; or (2) it transfers the financial asset and substantially all the risks and rewards of
ownership of the asset to another entity; or (3) it transfers the financial asset, neither transfers nor retains
substantially all the risks and rewards of ownership but has not retained control over the financial assets.
If an enterprise neither transfers nor retains substantially all the risks and rewards of ownership of the financial
asset, and retains its control of the financial asset, it recognizes the financial asset to the extent of its continuing
involvement in the transferred financial asset and recognize an associated liability. The extent of the enterprise’s
continuing involvement in the transferred asset is the extent to which it is exposed to changes in the value of the
transferred asset.
For a transfer of a financial asset in its entirety that satisfies derecognition criteria, the difference between the
following two amounts is recognized in profit or loss for the current period:
(1) The carrying amount of the financial asset transferred; and
(2) The sum of the consideration received from the transfer and any cumulative gain or loss that had been
recognized directly in equity.
If a part of the transferred financial asset qualifies for derecognition, the carrying amount of the transferred
financial asset is allocated between the part that continues to be recognized and the part that is derecognized,
based on the respective fair values of those parts. The difference between (1) the carrying amount allocated to
the part derecognized; and (2) the sum of the consideration received for the part derecognized and any
cumulative gain or loss allocated to the part derecognized which has been previously recognized in other
comprehensive income, is recognized in profit or loss.
Page 20
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.5 Classification, recognition and measurement of financial liabilities
Financial instruments issued by the Group are classified in accordance with the economic substance of the
contractual arrangements instead of the legal form merely, as well as the definitions of a financial liability and
an equity instrument; on initial recognition, financial instruments or their component parts are classified as
either financial liabilities or equity instruments.
On initial recognition, financial liabilities are classified into financial liabilities at fair value through profit or
loss and other financial liabilities. All financial liabilities of the Group are other financial liabilities.
9.5.1 Other financial liabilities
Derivative financial liabilities linked to and which must be settled by delivery of an unquoted equity instrument
(without a quoted price in an active market) whose fair value cannot be measured reliably is subsequently
measured at cost. Other financial liabilities are subsequently measured at amortized cost using the effective
interest method; gains or losses arising from derecognition or amortization is recognized in profit or loss for the
period. The Group holds no guarantee contract.
9.6 Derecognition of financial liabilities
The Group derecognizes a financial liability (or part of it) only when the underlying present obligation (or part
of it) is discharged. An agreement between the Group (an existing borrower) and an existing lender to replace
the original financial liability with a new financial liability with substantially different terms is accounted for as
an extinguishment of the original financial liability and the recognition of a new financial liability.
When the Group derecognizes a financial liability or a part of it, the Group recognizes the difference between
the carrying amount of the financial liability (or part of the financial liability) derecognized and the
consideration aid (including any non-cash assets transferred or new financial liabilities assumed) in profit or
loss for the period.
9.7 Offsetting a financial asset and a financial liability
When the Group has a legal right that is currently enforceable to set off the recognized financial assets and
financial liabilities, and intends either to settle on a net basis, or to realize the financial asset and settle the
financial liability simultaneously, financial assets and financial liabilities are offset with the net amounts
presented on the balance sheet. Otherwise, financial assets and financial liabilities are separately presented on
the balance sheet without offsetting.
9.8 Equity instruments
An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting
all of its liabilities. Equity instruments issued (including refinanced), repurchased, sold or cancelled by the
Group are treated as changes in equity. Changes in the fair value of equity instruments are not recognized.
Transaction costs related to equity transactions are deducted from equity.
The Group's distribution to holders of equity instruments are treated as a distribution of profits, payment of
stock dividends does not affect total shareholders' equity.
Page 21
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
10. Accounts receivable
10.1 Receivables that are individually significant and for which bad debt provision is individually assessed
The Group recognizes accounts receivable over RMB 5 million (including 5
Determining basis or the
million) as individually significant receivables. The group recognizes other
standard amount of individually
receivables over RMB 1 million (including 1 million) as individually
significant receivables
significant other receivables.
Determining basis for individual The individually significant receivables are assessed based on item-by-item
impairment testing basis by the Group for impairment.
10.2 Accounts receivables that are not individually significant but are still tested for impairment individually
Reasons for individual Considering risk factors including credit record, operation position based on
impairment testing historical experience.
Method for impairment testing Individual identification method.
11. Inventories
11.1 Categories of inventories
Inventories comprise raw materials. Inventories are initially measured at cost. Cost of inventories comprises all
costs of purchase, costs of conversion and other expenditures incurred in bringing the inventories to their
present location and condition.
11.2 Valuation method of inventories upon delivery
The actual cost of inventories upon delivery is calculated using the weighted average method.
11.3 Basis for determining net realizable value of inventories and provision methods for decline in value of
inventories
At the balance sheet date, inventories are measured at the lower of cost and net realizable value. If the cost of
inventories is higher than the net realizable value, a provision for decline in value of inventories is recognized.
Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs
necessary to make the sale and relevant taxes. The Group shall determine the net realizable value of inventories
based on solid evidence obtained and after taking into consideration the purpose for which the inventory is held,
and the effect of events occurring after the balance sheet date.
Provision for decline in value of inventories shall be made as per category.
After the provision for decline in value of inventories is made, if the circumstances that previously caused
inventories to be written down below cost no longer exist so that the net realizable value of inventories is higher
than their cost, the original provision for decline in value is reversed and the reversal is included in profit or loss
for the period.
11.4 Inventory count system
The perpetual inventory system is maintained for stock count.
Page 22
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
12. Long-term equity investments
12.1 Criteria for determining joint control and significant influence
Control exists when the investor has power over the investee; is exposed, or has rights, to variable returns from
its involvement with the investee; and has the ability to use its power over the investee to affect its returns. Joint
control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about
the relevant activities require the unanimous consent of the parties sharing control. Significant influence is the
power to participate in the financial and operating policy decisions of the investee but is not control or joint
control over those policies. When determining whether an investing enterprise is able to exercise control or
significant influence over an investee, the effects of potential voting rights of the investee (for example,
warrants and convertible debts) held by the investing enterprises or other parties that are currently exercisable or
convertible have been considered.
12.2 Determination of initial investment cost
For a long-term equity investment acquired through a business combination involving enterprises under
common control, the initial investment cost of the long-term equity investment is the attributable share of the
carrying amount of the shareholders' equity of the acquiree at the date of combination in the consolidated
financial statements of the ultimate controlling party. The difference between the initial investment cost and the
carrying amount of cash paid, non-cash assets transferred and liabilities assumed is adjusted to capital reserve.
If the balance of capital reserve is not sufficient, any excess is adjusted to retained earnings. If the consideration
of the combination is satisfied by the issue of equity securities, the initial investment cost of the long-term
equity investment is the attributable share of the carrying amount of the owners' equity of the acquiree in the
consolidated financial statements of the ultimate controlling party. The aggregate face value of the shares issued
is accounted for as share capital. The difference between the initial investment cost and the aggregate face value
of the shares issued is adjusted to capital reserve. If the balance of capital reserve is not sufficient, any excess is
adjusted to retained earnings.
For a long-term equity investment acquired through business combination not involving enterprises under
common control, the initial investment cost of the long-term equity investment is the cost of acquisition at the
date of combination.
The intermediary fees incurred by the absorbing party or acquirer such as audit, legal, valuation and consulting
fees, etc. and other related administrative expenses attributable to the business combination are recognized in
profit or loss when they are incurred.
The long-term equity investment acquired otherwise than through a business combination is initially measured
at its cost. When the entity is able to exercise significant influence or joint control (but not control) over an
investee due to additional investment, the cost of long-term equity investments is the sum of the fair value of
previously-held equity investments determined in accordance with Accounting Standard for Business
Enterprises No.22–Financial Instruments: Recognition and Measurement (CAS 22) and the additional
investment cost.
12.3 Subsequent measurement and recognition of profit and loss
12.3.1 Long-term equity investment accounted for using the cost method
Long-term equity investments in subsidiaries are accounted for using the cost method in the Company's separate
financial statements. A subsidiary is an investee that is controlled by the Group.
Under the cost method, a long-term equity investment is measured at initial investment cost. Additional or
recollected investment are for adjustment in long-term equity investment. Investment income is recognized in
the period in accordance with the attributable share of cash dividends or profit distributions declared by the
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SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
investee.
Page 24
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
12. Long-term equity investments - continued
12.3 Subsequent measurement and recognition of profit and loss - continued
12.3.2 Long-term equity investment accounted for using the equity method
Where the Group can exercise joint control or significant influence over the investee, a long-term equity
investment is accounted for using the equity method. Where an investing enterprise is able to exercise
significant influence over an investee, the investee is its associate. Where an investing enterprise can exercise
joint control over the investee, the investee is its jointly controlled enterprise.
Under the equity method, where the initial investment cost of a long-term equity investment exceeds the
Group’s interest in the fair values of the investee’s identifiable net assets at the acquisition date, no adjustment is
made to the initial investment cost. Where the initial investment cost is less than the Group’s interest in the fair
values of the investee’s identifiable net assets at the acquisition date, the difference is charged to profit or loss
for the current period, and the cost of the long-term equity investment is adjusted accordingly.
Under the equity method, the Group recognizes its share of the net profit or loss and other comprehensive
income of the investee for the period as investment income and other comprehensive income for the period.
Meanwhile, carrying amount of long-term equity investment is adjusted: the carrying amount of long-term
equity investment is decreased in accordance with its share of the investee’s declared profit or cash dividends;
Other changes in owners’ equity of the investee other than net profit or loss and other comprehensive income
are correspondingly adjusted to the carrying amount of the long-term equity investment, and recognized in the
capital reserve. The Group recognizes its share of the investee’s net profit or loss based on the fair value of the
investee’s individual identifiable assets, etc. at the acquisition date after making appropriate adjustments. When
the investors’ accounting policies and accounting period are inconsistent with those of the Company, the
Company recognizes investment income and other comprehensive income after making appropriate adjustments
to conform to the Company's accounting policies and accounting period. However, unrealized gains or losses
resulting from the Group’s transactions with its associates and joint ventures, which does not constitute a
business, are eliminated based on the proportion attributable to the Group and then investment gains or losses or
is recognized. However, unrealized intra-group transactions between the Group and the investee are not offset
when it is part of the impairment loss of the transferred asset.
The Group’s share of net losses of the investee is recognized to the extent that the carrying amount of the
long-term equity investment together with any long-term interests that in substance form part of the investor’s
net investment in the investee are reduced to zero. If the Group has to assume additional obligations, the
estimated obligation assumed is provided for and charged to the profit or loss as investment loss for the period.
Where the investee records profits in subsequent periods, the Group resumes recognizing its share of profits
after setting off profits against the unrecognized share of losses.
12.4 Disposal of long-term equity investments
On disposal of a long term equity investment, the difference between the proceeds actually received and the
carrying amount is recognized in profit or loss for the current period.
Page 25
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
13. Investment properties
Investment properties are real estate primarily held for earning rental income or for capital appreciation, or both.
Generally, investment properties refer to leased out buildings.
An investment property is initially measured at cost. Subsequent expenditures incurred on an investment
property are recognized as cost of the investment property only when: 1) it is probable that economic benefits
associated with the investment property will flow to the Group; and 2) the cost of the investment property can
be measured reliably. Subsequent expenditures that fail to meet such recognition criteria are recognized in profit
or loss in the period in which they are incurred.
The Group uses the cost model for subsequent measurement of an investment property, and adopts the
depreciation policy consistent with that applicable to buildings. The Group's investment properties are
depreciated by 50 years, whose residual value is 5%.
When an investment property is sold, transferred, retired or damaged, the amount of any proceeds on disposal
net of the carrying amount and related taxes is recognized in profit or loss for the current period.
14. Fixed assets
14.1 Recognition criteria for fixed assets
Fixed assets are tangible assets that are held for use in the production or supply of services, for rental to others,
or for administrative purposes and have useful lives more than one accounting year. A fixed asset shall be
recognized only when both of the following conditions are satisfied: (1) it is probable that economic benefits
associated with the assets will flow to the enterprise; and (2) the cost of the assets can be measured reliably.
Fixed assets shall be initially measured at cost.
Subsequent expenditures incurred for a fixed asset is included in the cost of the fixed asset, only if it is probable
that economic benefits associated with the asset will flow to the Group and the relevant cost can be measured
reliably; meanwhile the carrying amount of the replaced part is derecognized. Other subsequent expenditure that
fails to meet the capitalization criteria is charged to profit or loss when incurred.
14.2 Depreciation method
Depreciation is provided to write off the cost of each category of fixed assets over their estimated useful lives
from the month after they are brought to working condition for the intended use, using the straight-line method.
The useful lives, estimated net residual values rates and annual depreciation rates of each class of fixed assets
are as follows:
Depreciation Residual value Annual depreciation
Category of fixed assets
period (years) (%) rates (%)
Buildings 20-50 5-10 1.8-4.75
Plant and machinery 5-20 5-10 4.5-19
Electronic equipment, furniture and fixtures 5-10 5-10 9.0-19
Transportation vehicles 5-8 5-10 11.25-19
Decoration expenditure 5 0 20
Estimated net residual value of a fixed asset is the estimated amount that the Group would currently obtain from
disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in
the condition expected at the end of its useful life.
Page 26
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
14. Fixed assets - continued
14.3 Other explanations
The carrying amount of a fixed asset shall be derecognized when one of the following conditions is met: (1) on
disposal; or (2) when no future economic benefits are expected to be generated from its use or disposal. When a
fixed asset is sold, transferred, retired or damaged, the Group recognizes the amount of any proceeds on
disposal of the asset net of the carrying amount and related taxes in profit or loss for the current period.
The Group shall review the useful life and estimated net residual value of a fixed asset and the depreciation
method applied at least at each financial year-end. A change in the useful life or estimated net residual value of a
fixed asset or the depreciation method used shall be accounted for as a change in an accounting estimate.
15. Construction in progress
Construction in progress shall be initially measured at cost including the expenditure actually incurred for the
construction, comprising all expenditure incurred for construction projects, and other related expenses.
Construction in progress is not subject to depreciation. Construction in progress is reclassified as fixed assets,
intangible assets or long-term deferred expenses when it has reached working condition for its intended use.
16. Intangible assets
Intangible assets include software.
An intangible asset is initially measured at cost. An intangible asset with a finite useful life is amortized using
the straight-line method over its useful life when the asset is available for use. An intangible asset with an
indefinite useful life is not amortized.
Type Amortization Method Useful Life (Year) Residual Value (%)
Software Straight-line Method 3-5 0
For an intangible asset with a finite useful life, the Group reviews the useful life and amortization at each
financial year-end and adjustment shall be made when necessary.
17. Long-term prepaid expenses
Long-term prepaid expenses are various expenditures incurred but that should be allocated over the current and
future periods of more than one year. Long-term prepayments are evenly amortized over the respective
beneficial period.
Class Beneficial Period (Year) Annual Amortization Rate (%)
Renovation expenditure for fixed
3-5 20-33.33
assets under operating leases
Page 27
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
18. Impairment of long-term assets
The Group reviews the long-term equity investments, investment properties, fixed assets, construction in
progress, intangible assets with finite useful life, and decoration expenditure for fixed assets under operating
leases at each balance sheet date to determine whether there is any indication that they have suffered an
impairment loss. If an impairment indication exists, the recoverable amount is estimated. Intangible assets with
indefinite useful life and intangible assets not yet available for use are tested for impairment annually,
irrespective of whether there is any indication that the assets may be impaired.
Recoverable amount is estimated on individual basis. If it is not practical to estimate the recoverable amount of
an individual asset, the recoverable amount of the asset group to which the asset belongs will be estimated. The
recoverable amount of an asset or asset group is the higher of its fair value less costs of disposal and the present
value of the future cash flows expected to be derived from the asset or asset group.
If such recoverable amount is less than its carrying amount, a provision for impairment losses in respect of the
deficit is recognized in profit or loss for the period.
For the purpose of impairment testing, goodwill is considered together with the related assets group(s), i.e.,
goodwill is reasonably allocated to the related assets group(s) or each of assets group(s) expected to benefit
from the synergies of the combination. An impairment loss is recognized if the recoverable amount of the assets
group or sets of assets groups (including goodwill) is less than its carrying amount. The impairment loss is
firstly allocated to reduce the carrying amount of any goodwill allocated to such assets group or sets of assets
groups, and then to the other assets of the group pro-rata on the basis of the carrying amount of each asset (other
than goodwill) in the group.
Once an impairment loss is recognized for above mentioned assets, it will not be reversed in any subsequent
period.
19. Employee Benefits
19.1 Accounting Treatment for Short-term Employee Benefits
In the accounting period in which an employee has rendered services except for compensation to employees for
termination of employment relationship, the Group recognizes the employee benefits for those services as a
liability and included in profit or loss or cost of related assets. Employee benefits incurred by the Group are
included in profit or loss or cost of related assets. Employee benefits are measured at fair value when it is
non-monetary asset.
Expenditures related to payments for employees' social welfare system established by the state, including
pensions, medical insurance, maternity insurance and housing fund as well as union running cost and employee
education expense, are included in the cost of related assets or profit or loss for the period in which they are
incurred and recognized as a liability.
Page 28
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
19. Employee Benefits - continued
19.2 Accounting Treatment for Post-employment Benefits
Post-employment benefits are all defined contribution plan.
Contributions payable arising from defined contribution plan is recognized as a liability and included in profit
or loss or cost of related assets in which employees provided services to the Group.
19.3Accounting Treatment for termination benefits
When the Group provides termination benefit to employees, a liability is recognized at the earlier of the
following conditions: when the Group can no longer unilaterally withdraw the offer of the termination benefit
and when the Group recognizes any related restructuring costs or expenses.
20. Provision
Provisions are recognized when the Group has a present obligation related to a contingency, provided that it is
probable that an outflow of economic benefits will be required to settle the obligation, and the amount of the
obligation can be measured reliably.
The amount recognized as a provision is the best estimate of the consideration required to settle the present
obligation at the balance sheet date, taking into account factors pertaining to a contingency such as the risks,
uncertainties and time value of money. Where the effect of the time value of money is material, the amount of
the provision is determined by discounting the related future cash outflows.
21. Revenue
21.1 Revenue from rendering of services
Revenue from rendering of services is recognized when (1) the amount of revenue can be measured reliably; (2)
it is probable that the associated economic benefits will flow to the enterprise. The revenue is recognized and
costs are carried forward when the tour group ends its journey with all services completed. If the labor costs that
have already occurred cannot be compensated as expected, revenue will not be recognized.
21.2 Revenue from the sale of goods
Revenue from sale of goods is recognized when (1) the Group has transferred to the buyer the significant risks
and rewards of ownership of the goods; (2) the Group retains neither continuing managerial involvement to the
degree usually associated with ownership nor effective control over the goods sold; (3) the amount of revenue
can be measured reliably; (4) it is probable that the associated economic benefits will flow to the Group; and (5)
the associated costs incurred or to be incurred can be measured reliably.
22. Government grants
Government grants are monetary assets and non-monetary assets from the government to the Group at no
consideration. Government grants are divided into government grants related to income based on the nature of
the objects specified in relevant government documents.
Government grants are only recognized when all conditions of the grant are satisfied. If a government grant is in
the form of a transfer of a monetary asset, the item is measured at the amount received or receivable.
Page 29
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
22. Government grants - continued
The Determination of Income Related Government Grants and Accounting Treatment
The brand awards and the financial subsidy and industrial support fund of the District Finance Bureau
government grants related to income as they are not related to the formation of long-term assets of the Group.
For a government grant related to income, if the grant is a compensation for related expenses or losses to be
incurred in subsequent periods, the grant is recognized as deferred income, and recognized in profit or loss over
the periods in which the related costs are recognized; if the grant is a compensation for related expenses or
losses already incurred, the grant is recognized immediately in profit or loss for the current period.
A government grant related to the Group's daily activities is recognized in other income based on the nature of
economic activities; a government grant is not related to the Group's daily activities is recognized in
non-operating income and expenses.
23. Income tax expense
Income tax expense includes current income tax and deferred income tax.
23.1 Current income tax
At the balance sheet date, current income tax liabilities (or assets) for the current and prior periods are measured
at the amount expected to be paid (or recovered) according to the requirements of tax laws.
23.2 Deferred tax assets and deferred tax liabilitie
Temporary differences arising from the difference between the carrying amount of an asset or liability and its
tax base, or the difference between the tax base and the carrying amount of those items that are not recognized
as assets or liabilities but have a tax base that can be determined according to tax laws, are recognized as
deferred tax assets and deferred tax liabilities using the balance sheet liability method.
Deferred tax is generally recognized for all temporary differences. Deferred tax assets for deductible temporary
differences are recognized to the extent that it is probable that taxable profits will be available against which the
deductible temporary differences can be utilized. However, for temporary differences associated with the initial
recognition of goodwill and the initial recognition of an asset or liability arising from a transaction (not a
business combination) that affects neither the accounting profit nor taxable profits (or deductible losses) at the
time of transaction, no deferred tax asset or liability is recognized .
For deductible losses and tax credits that can be carried forward, deferred tax assets are recognized to the extent
that it is probable that future taxable profits will be available against which the deductible losses and tax credits
can be utilized .
For taxable temporary differences associated with investments in subsidiaries, associates and joint ventures,
unless the Group is able to control the timing of the reversal of the temporary difference and it is probable that
the temporary difference will not reverse in the foreseeable future, the Group does not recognize the
corresponding deferred tax liability. The Group does not recognize the corresponding deferred tax asset for
deductible temporary differences associated with investments in subsidiaries, associates and joint ventures,
except when both of the following conditions are satisfied: (1) it is probable that the temporary difference will
be reversed in the foreseeable future; and (2) it is probable that taxable profits will be available in the future,
against which the temporary difference can be utilized.
At the balance sheet date, deferred tax assets and deferred tax liabilities are measured at the tax rates that are
expected to apply to the period when the asset is realized or the liability is settled, according to the tax laws.
Page 30
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
23. Income tax expense - continued
23.2 Deferred tax assets and deferred tax liabilities - continued
Current and deferred tax expenses or income are recognized in profit or loss for the period, except when they
arise from transactions or events that are directly recognized in other comprehensive income or in shareholders'
equity, in which case they are recognized in other comprehensive income or in shareholders' equity; and when
they arise from business combinations, in which case they adjust the carrying amount of goodwill.
At the balance sheet date, the Group reviews the carrying amount of a deferred tax asset. If it is probable that
sufficient taxable profits will not be available in future periods to allow the benefit of the deferred tax asset to be
utilized, the carrying amount of the deferred tax asset is reduced. Any such reduction in amount is reversed
when it becomes probable that sufficient taxable profits will be available.
23.3 Offsetting income tax:
When the Group has a legal right to settle on a net basis and intends either to settle on a net basis or to realize
the assets and settle the liabilities simultaneously, current tax assets and current tax liabilities are offset and
presented on a net basis.
When the Group has a legal right to settle current tax assets and liabilities on a net basis, and deferred tax assets
and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same
taxable entity or different taxable entities which intend either to settle current tax assets and liabilities on a net
basis or to realize the assets and liabilities simultaneously, in each future period in which significant amounts of
deferred tax assets or liabilities are expected to be reversed, deferred tax assets and deferred tax liabilities are
offset and presented on a net basis.
24. Leases
A finance lease is a lease that transfers in substance all the risks and rewards incidental to ownership of an asset.
All other leases are classified as operating leases.
24.1 The Group as lessee under operating leases
Operating lease payments are recognized on a straight-line basis over the term of the relevant lease, and are
either included in the cost of related asset or charged to profit or loss for the period. Initial direct costs incurred
are charged to profit or loss for the period. Contingent rents are charged to profit or loss in the period in which
they are actually incurred
24.2 The Group as lessor under operating leases
Rental income from operating leases is recognized in profit or loss on a straight-line basis over the term of the
relevant lease. Initial direct costs with more than an insignificant amount are capitalized when incurred, and are
recognized in profit or loss on the same basis as rental income over the lease term. Other initial direct costs with
an insignificant amount are charged to profit or loss in the period in which they are incurred. Contingent rents
are charged to profit or loss in the period in which they actually arise.
Page 31
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
25. Changes in significant accounting policies
Approval
Changes in accounting policies and reasons Remarks
procedure
The Group started adopting the Accounting Standards for Business Enterprises These changes
No.42 Held-for-sale Non-current Assets and Disposal Groups and Discontinued in accounting
Operations issued by Ministry of Finance ("MoF") in 2017 and the Accounting policy are
Standards for Business Enterprises No.16 - Government Grants revised by MoF approved by
in 2017 since 28 May 2017 and 12 June 2017 respectively. Besides, the financial company's
statements have been prepared under the Notice of the Revised Format of meeting of
Financial Statements for General Business Enterprise (Cai Kuai (2017) No. 30, board of
hereinafter referred to as the "Cai Kuai No.30 Document") released by the MoF directors.
on 25 December 2017.
Approval
Changes in accounting policies and reasons Remarks
procedure
Held-for-sale Non-current Assets and Disposal Groups and Discontinued
Operations These
changes in
Accounting Standards for Business Enterprises No.42 Held-for-sale Non-current accounting
Assets and Disposal Groups and Discontinued Operations specifies regulations policy are
for classifications and measurement of held-for-sale non-current assets or approved by
disposal group, requiring separately present profit or loss arising from continued company's
operations or discontinued operations in the income statement with detailed meeting of
disclosures about information of the held-for-sale non-current assets or disposal board of
group and discontinued operations. This standard requires retrospective directors.
approach for accounting treatment, which has no impact on the financial
statements for the comparable years.
Government grants
Prior to the implementation of the Accounting Standards for Business
Enterprises No.16 - Government Grants (revised), for a government grant
related to income, if the grant is a compensation for related expenses or losses to
be incurred in subsequent periods, the grant is recognized as deferred income,
and included in non-operating income over the periods in which the related
costs are recognized. If the grant is a compensation for related expenses or
losses already incurred, the grant is recognized immediately in non-operating
income for the period.
After the implementation of the Accounting Standards for Business Enterprises
No.16 - Government Grants (revised), for a government grant related to income,
if the grant is a compensation for related expenses or losses to be incurred in
subsequent periods, the grant is recognized as deferred income, and included in
profit or loss over the periods in which the related costs or losses are
recognized; if the grant is a compensation for related expenses or losses already
incurred, the grant is recognized immediately in profit or loss for the period. A
government grant related to the Group's daily activities is recognized in other
income based on the substance of economic activities; a government grant is not
related to the Group's daily activities is recognized in non-operating income and
expenses.
The Group has accounted for the above changes in accounting policies
prospectively. Such changes in accounting policies have no impact on the
financial statements for the comparable years.
Page 32
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
Presenting profit or loss from disposal of assets
Prior to the release of the Cai Kuai No. 30 Document, the gains or losses
recognized from disposal of fixed assets, construction in progress and intangible
assets not classified as held-for-sale are presented under the item of
"non-operating income" or "non-operating expenses".
After the release of the Cai Kuai No.30 Document, gains or losses recognized
from disposal of fixed assets, construction in progress and intangible assets not
classified as held-for-sale are presented under the item of "income from disposal
of assets". The Group has accounted for the above change in presenting
accounts retrospectively, and adjusted comparable data for prior year.
Page 33
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
IV. CRITICAL JUDGMENTS IN APPLYING ACCOUNTING PLOCIES AND KEY ASSUMPTIONS AND
UNCERTAINTIES IN ACCOUNTING ESTIMATES
In the application of accounting policies as set out above, the Group is required to make judgements, estimates
and assumptions about the carrying amounts of items in the financial statements that cannot be measured
accurately, due to the internal uncertainties of the operating activities. These judgements, estimates and
assumptions are based on historical experience of the Group's management as well as other factors that are
considered to be relevant. Actual results may differ from these estimates.
The Group regularly reviews the above judgments, estimates and assumptions based on the going concern
assumption and recognizes changes in the period over which changes of accounting estimates affects, and
recognizes those changes in both periods when they affect both the current period and future periods.
Significant Accounting Estimates and key Assumptions
The following are the critical judgments that the Group has made in the process of applying the accounting
policies and that have the most significant effect on the amounts recognized in financial statements:
Deferred tax assets and liabilities
As at 31 December 2017, deferred tax assets recognised by the Group amount to RMB 15,098,051.41(31
December 2016: 9,999,729.76). Deferred tax assets are limited by the taxable income, which is probably able to
deduct temporary difference. If it is unable to obtain sufficient taxable profit to utilize the deductible temporary
differences, the Group's management will write down the carrying value of deferred tax assets and increase the
income tax expenses of that year.
Additionally, since it is assumed unlikely to utilize the deductible losses and deductible temporary differences,
the Group remains parts of deducible losses and deductible temporary differences unrecognized as deferred tax
assets. If the actual profits generates exceed what estimated, the Group may recognize deferred tax assets and
record deferred tax income in the consolidated income statement accordingly.
Page 34
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
V. TAXES
Major categories of taxes and tax rates
Category of tax Basis of tax computation Tax rate
Immovable properties under the operating lease service rendered by the 5%
Company are those obtained prior to 30 April 2016, and are subject to
simple tax method at 5% taxable income without considering sales
turnover.
Shanghai Jinjiang International Green Holiday Travel Co., Ltd., as a 3%
small-scale taxpayer, pays VAT at 3% of the pre-tax sales turnover.
Transportation services rendered by Shanghai Jinjiang International
11%
Travel Company Limited Motor Caravan Branch are levied VAT at 11%
Value added tax of the pre-tax sales turnover.
All other services rendered by the Company, which mainly refers to
tourism services, are levied VAT subject to 6% of the pre-tax sales
turnover which is calculated at the balance of all obtained price plus fees 6%
besides the price, after deducting expenses spending on accommodation,
catering, transportation, visa and admission tickets that are collected (Note 1)
from the tourism service purchaser and paid to other entitles and
individuals as well as tourism expenses paid to other tourism enterprise
who have received tourism groups.
5%
Business tax Tourism income after deducting non-deductible cost.
(Note2)
Urban maintenance The actual value-added tax and business tax paid out 7%
and construction tax
25% or 10%
Income tax Taxable income
(Note 3)
Note 1: According to the Notice on Issuing Provisions concerning VAT Accounting (Cai Kuai [2016] No.22)
enacted by the Ministry of Finance, the Group has presented as other current assets for the debit balance
of non-deducted input VAT and overpaid VAT as of 31 December 2016 and 2017, and recognized as
taxes and levies for real estate tax, city construction and maintenance tax, stamp tax and other taxes
incurred for the period from 1 May 2016 to 31 December 2016 as well as 2017.
Note 2: For the period from 1 January 2016 to April 30 2016, revenues from tourism service business and real
estate lease business rendered by travel agencies subordinated to the Company are levied business tax.
According to Notice on Full Launch of the Pilot Scheme on Levying Value-added Tax in Place of
Business Tax (Cai Shui [2016] No. 36), as tourism service business and real estate lease business have
been included in life-support service industry and modern service industry respectively since 1 May
2016, VAT is applicable to be levied for such businesses.
Note 3: The income tax rates of Shanghai Jinjiang Overseas Affairs Services Co., Ltd. and Shanghai CITS Tour
Guide Service Co., Ltd, Shanghai Travel Property Management Co., Ltd are 10%. The tax rates of the
Company and other subsidiaries within the scope of consolidated financial statements are 25%.
Page 35
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS
1. Cash and bank balances
Unit: RMB
31/12/2017 31/12/2016
Item Foreign Foreign Exchange
Exchange rate RMB RMB
Currency Currency rate
Cash:： 193,137.53 162,223.52
RMB 193,137.53 162,223.52
Cash deposit: 155,295,730.57 215,946,819.04
RMB 141,919,073.79 206,677,009.19
USD 1,766,110.47 6.5342 11,540,119.02 1,089,895.77 6.9370 7,560,606.94
JPY 6,996,727.69 0.057883 404,991.59 909,050.51 0.0596 54,171.23
AUD 24,724.72 5.0928 125,918.05 1,293.71 5.0157 6,488.86
EUR 167,338.88 7.8023 1,305,628.12 225,617.62 7.3068 1,648,542.82
Other Currency 68,684,373.04 269,330,936.65
Funds(Note)
RMB 68,684,373.04 269,330,936.65
Total 224,173,241.14 485,439,979.21
Note: At 31 December, 2017, the balance of other currency funds includes:
Profit guaranteed deposits of RMB 55,000,000.00 (31/12/2016: RMB 250,000,000.00);
Restricted travel agency quality assurance deposits, restricted bank deposits for credit business, bank
deposits for security account and company’s credit card balance of RMB 6,584,373.04 (31/12/2016:
RMB 5,230,936.65);
Letter of guarantee deposit RMB 7,100,000.00 (31/12/2016: RMB 14,100,000.00).
2. Accounts receivable
(1) Disclosure of accounts receivable by categories:
Unit: RMB
31/12/2017 31/12/2016
Carrying value Bad debt provision Net value Carrying value Bad debt provision Net value
Item
Amount % Amount % Amount Amount % Amount % Amount
Individually
significant
receivables
with bad debt 15,573,817.87 14.83 - - 15,573,817.87 13,838,769.82 16.94 - - 13,838,769.82
provision
recognized
individually
Individually
insignificant
receivables
with bad debt 89,429,671.77 85.17 1,860,572.30 2.08 87,569,099.47 67,874,859.34 83.06 1,959,767.40 2.89 65,915,091.94
provision
recognized
individually
Total 105,003,489.64 100.00 1,860,572.30 1.77 103,142,917.34 81,713,629.16 100.00 1,959,767.40 2.40 79,753,861.76
(2) Accrual, recovery or reversal and write-offs of bad debt provision in the year
Unit: RMB
2017 2016
Opening balance 1,959,767.40 3,472,889.09
Reversal (99,195.10) (1,513,121.69)
Closing balance 1,860,572.30 1,959,767.40
Page 36
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
2. Accounts receivable - continued
(3) Top five entities with the largest balances of accounts receivable
Unit: RMB
Name Book Value Provision Net Book Value Proportion (%)
Client A 10,080,217.10 - 10,080,217.10 9.77
Client B 5,493,600.77 - 5,493,600.77 5.33
Client C 4,917,223.10 - 4,917,223.10 4.77
Client D 4,787,260.36 - 4,787,260.36 4.64
Client E 4,539,024.00 - 4,539,024.00 4.40
Total 29,817,325.33 - 29,817,325.33 28.91
3. Prepayments
(1) The aging analysis of prepayments is as follows:
Unit: RMB
31/12/2017 31/12/2016
Aging
Amount Proportion (%) Amount Proportion (%)
Within 1 year 37,342,339.47 97.83 65,864,402.98 98.08
1 to 2 year 828,879.00 2.17 1,286,961.00 1.92
Total 38,171,218.47 100.00 67,151,363.98 100.00
(2) Top five entities with the largest balances of prepayments
Unit: RMB
Name Amount Proportion (%)
Supplier A 4,743,806.00 12.43
Supplier B 1,008,008.20 2.64
Supplier C 901,546.15 2.36
Supplier D 828,879.00 2.17
Supplier E 610,840.00 1.60
Total 8,093,079.35 21.20
Page 37
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
4. Other receivables
(1) Disclosure of accounts receivable by categories:
Unit: RMB
31/12/2017 31/12/2016
Book Value Bad debt provision Net Book Value Book Value Bad debt provision Net Book Value
Item
Ratio Ratio Ratio Ratio
Amount Amount Amount Amount Amount Amount
(%) (%) (%) (%)
Individually
significant accounts
receivable and bad
7,402,466.00 50.49 - - 7,402,466.00 1,300,000.00 13.12 - - 1,300,000.00
debt provision
recognized
individually
Individually
insignificant
accounts receivable
7,258,885.07 49.51 2,200 0.03 7,256,685.07 8,605,021.35 86.88 2,200.00 0.03 8,602,821.35
but bad debt
provision recognized
individually
Total 14,661,351.07 100.00 2,200 0.02 14,659,151.07 9,905,021.35 100.00 2,200.00 0.02 9,902,821.35
(2) There is no movement in balance of provision for other receivables.
(3) Other receivables by nature:
Unit: RMB
Nature 31/12/2017 31/12/2016
Operating funds collected by E-commerce -
7,421,940.88
sales platform on behalf
Security deposits 5,088,386.00 6,965,136.56
Business revolving fund 606,920.73 536,572.50
Others 1,541,903.46 2,401,112.29
Total 14,659,151.07 9,902,821.35
(4) Top five entities with the largest balances of other receivables
Unit: RMB
Name Book Value Provision Book Value Proportion (%)
Company A 7,402,466.00 - 7,402,466.00 50.50
Company B 500,000.00 - 500,000.00 3.41
Company C 420,000.00 - 420,000.00 2.87
Company D 334,206.00 - 334,206.00 2.28
Company E 300,000.00 - 300,000.00 2.05
Total 8,956,672.00 - 8,956,672.00 61.11
5. Inventories
(1) By category
Unit: RMB
31/12/2017 31/12/2016
Item Provision for the Carrying Provision for the Carrying
Cost Cost
decline in value amount decline in value amount
Raw material 391,339.53 141,841.51 249,498.02 441,746.79 141,841.51 299,905.28
Total 391,339.53 141,841.51 249,498.02 441,746.79 141,841.51 299,905.28
(2) In this reporting period, there is no change in the provision of impairment loss of inventories.
Page 38
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
6. Other current assets
Unit: RMB
Item 2017 2016
Pending deduct VAT on purchase 67,085.49 -
7. Available-for-sale financial assets
(1) Category
Unit: RMB
31/12/2017 31/12/2016
Category
Book Value Provision Net Book Value Book Value Provision Net Book Value
AFS
-measured at fair value 947,371,170.05 - 947,371,170.05 730,425,794.60 - 730,425,794.60
-measured at cost 57,508.00 - 57,508.00 57,508.00 - 57,508.00
Total 947,428,678.05 - 947,428,678.05 730,483,302.60 - 730,483,302.60
The fair value at the end of the year is determined with reference to the closing price of the Shanghai Stock
Exchange and Shenzhen Stock Exchange on 31 December 2017.
(2) AFS measured at fair value at the year-end
Unit: RMB
Category Available-for-sale equity instruments
Cost of equity instruments 406,712,710.65
Fair Value 947,371,170.05
Fair value change included in Other Comprehensive Income 405,493,844.55
Impairment accrued -
Unit: RMB
Number of
Name of the Number of
Stock Shares held 31 December Changes in fair Purchase for Disposal for the 31 December
invested Shares held
Code at beginning 2016 value the year year 2017
companies at year end
of the year
Shanghai Pudong
Development 600000 24,885,975 403,401,654.75 (106,425.47) - (88,545,229.28) 314,750,000.00 25,000,000
Bank (Note 1)
Bank of
Communications 601328 30,647,500 176,836,075.00 19,417,139.66 300,546,859.86 - 496,800,074.52 80,000,012
(Note 2)
YuYuan Inc.
600655 11,954,830 136,524,158.60 (8,472,441.74) - (3,970,649.58) 124,081,067.28 11,553,172
(Note 3)
Shenwan
000166 2,186,225 13,663,906.25 (1,923,878.00) - - 11,740,028.25 2,186,225
Hongyuan
Total 730,425,794.60 8,914,394.45 300,546,859.86 (92,515,878.86) 947,371,170.05
Page 39
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
7. Available-for-sale financial assets - continued
Note 1: In the reporting period, Shanghai Pudong Development Bank distributed stock dividend of 0.3 share for
every 1 share to all common stockholder, and the Company has obtained 6,925,793 shares from the
Bank. In the reporting period, the Company sold 6,811,768 shares of Shanghai Pudong Development
bank.
Note 2: In the reporting period, the Company purchased 49,352,512 shares from Bank of Communications. On
9 November 2017, the Company conducted securities margin trading with 230,000 shares of Bank of
Communications at platform of China Securities Finance Corporation Limited in accordance with
Refinancing Business Rules of the China Securities Finance Corporation Limited (for Trial
Implementation), with a term of 182 days. Within this term, the Company will obtain security gains at
agreed yield; after the expiration, the Company will withdraw the same number of shares of the Bank
of Communications.
Note 3: In the reporting period, the Company sold 401,658 shares of YuYuan Inc.
(3) AFS measured at cost at the year-end
The closing balance of equity investment in Shanghai Baoding Investment Co., Ltd. is RMB 57,508.00, which
is measured at cost as this company’s stock is not traded in any trading market and its fair value unable to be
measured reliably.
Page 40
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
8. Long-term equity investments
Unit: RMB
Provision
Changes in the year 31/12/2017 Balance at
Ownership
Initial year end
Investee in Investee 31/12/2016
Investment Investment Other Dividend or
(%) Additional Reduction in OCI Provisio
Income by Equity Changes profit distributed Other
Investment Investment Adjustments n
Method in Equity or declared
Joint ventures
Shanghai Jinjiang
Business and Travel
20,020,020.00 20.00 57,037,696.04 - - 6,216,028.90 - - - - - 63,253,724.94 -
Auto Service
Co.,Ltd.
Shanghai Huangpu
River Cruise Co., Ltd. 13,360,284.59 20.00 12,324,055.62 - (12,963,356.11) 639,300.49 - - - - - - -
(Note )
China Oriental
International Travel & 3,920,000.00 49.00 268,901.13 - - 4,557.38 - - - - - 273,458.51 -
Transport Co., Ltd
Shanghai Waihang
International Travel 1,050,000.00 30.00 3,559,833.10 - - (2,729,460.37) - - - - - 830,372.73 -
Service Co., Ltd.
Shanghai Oneday
Travel Service Co., 800,000.00 22.86 120,858.08 - - (120,858.08) - - - - - - -
Ltd.
Shanghai Juxing
Property Management 246,500.00 24.65 1,030,348.60 - - 14,980.31 - - - - - 1,045,328.91 -
Co., Ltd.
Total 39,396,804.59 74,341,692.57 - (12,963,356.11) 4,024,548.63 - - - - - 65,402,885.09 -
Note: On 28 March 2017, the Group entered in to equity transfer agreement with Shanghai Jiaoyun Group Co., Ltd. to transfer the 20% equity held by the Company in
Shanghai Huangpu River Cruise Co., Ltd. According to this agreement, the consideration for such transfer is RMB 15,702,366.00, and RMB 2,739,009.89 of
disposal income was recognized by the Group.
Page 41
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
中文草稿
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
9. Investment properties
Unit: RMB
Items Buildings
Book Value
1. 31/12/2016 215,411,094.17
2. Transfers from fixed assets (Note) 22,035,029.17
3. 31/12/2017 237,446,123.34
Accumulated Depreciation
1. 31/12/2016 77,167,017.57
2. Additions in the year 14,798,447.15
(1) depreciation provided 4,139,961.72
(2) Transfers from fixed assets (Note) 10,658,485.43
3. 31/12/2017 91,965,464.72
Impairment Provision
1.31/12/2016 -
2.31/12/2017 -
Net Book Value
1.31/12/2016 138,244,076.60
2.31/12/2017 145,480,658.62
Note: On 31 December 2017, the Group lent out some of the owner-occupied properties, therefore, they are
transferred from fixed assets to investment properties and are measured at cost.
Page 42
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10．Fixed assets
(1)Fixed assets
Unit: RMB
Electronic equipment, Transportation
Item Buildings Plant and machinery Decoration Total
furniture and fixtures equipment
I. Cost
1.31/12/2016 75,225,368.10 10,443,526.85 4,197,002.29 10,592,774.56 9,930,945.40 110,389,617.20
2. Additions: Purchase - 71,898.96 41,500.00 905,923.13 - 1,019,322.09
3. Decreases (22,823,113.17) (197,217.50) (920,924.38) (244,130.00) - (24,185,385.05)
(1) Disposal or retirement (788,084.00) (197,217.50) (920,924.38) (244,130.00) - (2,150,355.88)
(2) Transfer from fixed assets to
(22,035,029.17) - - - - (22,035,029.17)
investment properties
4. 31/12/2017 52,402,254.93 10,318,208.31 3,317,577.91 11,254,567.69 9,930,945.40 87,223,554.24
II.Accumulated Depreciation
1. 31/12/2016 29,623,806.34 8,506,663.08 3,313,588.92 5,688,373.96 7,628,684.54 54,761,116.84
2. Additions - Accruals 1,350,907.56 561,468.91 519,730.41 1,126,368.18 2,198,006.29 5,756,481.35
3. Decreases (11,407,165.23) (181,721.99) (892,291.30) (231,923.50) - (12,713,102.02)
(1) Disposal or retirement (748,679.80) (181,721.99) (892,291.30) (231,923.50) - (2,054,616.59)
(2) Transfer from fixed assets to
(10,658,485.43) - - - - (10,658,485.43)
investment properties
4. 31/12/2017 19,567,548.67 8,886,410.00 2,941,028.03 6,582,818.64 9,826,690.83 47,804,496.17
III.Provision for Impairment Loss
1. 31/12/2016 - - - - - -
2. 31/12/2017 - - - - - -
IV. Carrying Amount
1. 31/12/2016 45,601,561.76 1,936,863.77 883,413.37 4,904,400.60 2,302,260.86 55,628,500.36
2. 31/12/2017 32,834,706.26 1,431,798.31 376,549.88 4,671,749.05 104,254.57 39,419,058.07
Page 43
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10. Fixed assets - continued
(2) Fixed assets with no certificate
Unit: RMB
Value (NBV)
Item Value (NBV)
Reason for not having certificates
Since it is not commercial residential building, the municipal
A house located in Fengtai District, Beijing 78,910.73
government does not approve the certificate.
11．Construction in progress
(1)Details of construction in progress are as follows:
Unit: RMB
31/12/2017 31/12/2016
Item Original Value Provision for Net Book Value Original Value Provision for Net Book Value
Impairment Loss Impairment Loss
Decoration projects at 400 and 191,
3,870,492.88 - 3,870,492.88 - - -
Changle Road
Integration and reconstruction project
for citizen's tour system supporting - - - 601,910.37 - 601,910.37
website
Others 99,779.60 - 99,779.60 63,000.00 - 63,000.00
Total 3,970,272.48 - 3,970,272.48 664,910.37 - 664,910.37
Page 44
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
11. Construction in progress - continued
(2)Movement of significant construction in progress
Unit: RMB
Including: Ratio of
Proportion of Cumulative
amount of interest
construction Construction amount of
Item Budget 31/12/2016 Addition Decrease(Note) 31/12/2017 interest capitalization Capital Source
investment in in progress interest
capitalization for this year
budget (%) capitalization
for this year (%)
Integration and reconstruction
project for citizen's tour system 1,000,000.00 601,910.37 - 601,910.37 - N/A N/A - - - self-financed
supporting website
Voice and web services project
1,374,120.00 - 1,296,339.59 1,296,339.59 - 94.34 Completed - - - self-financed
at 400 Changle Road
Decoration projects at 400 and
5,942,755.70 - 3,870,492.88 - 3,870,492.88 65.13 In progress - - - self-financed
191, Changle Road
Others 1,710,000.00 63,000.00 99,779.60 63,000.00 99,779.60 N/A N/A - - - self-financed
Total 10,026,875.70 664,910.37 5,266,612.07 1,961,249.96 3,970,272.48 - - -
Note: Decreases of this year include RMB 1,296,339.59 of completed and transferred to long-term prepaid expenses and RMB 664,910.37 of transferred to
administrative expenses for project termination.
Page 45
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Intangible assets
Unit: RMB
Item Software
I. Cost
1.31/12/2016 7,224,502.28
2. Additions – Purchase -
3. 31/12/2017 7,224,502.28
II.Accumulated Amortization
1.31/12/2016 6,566,127.19
2. Additions – accrual of amortization 579,625.09
3. 31/12/2017 7,145,752.28
III.Provision for impairment loss
1. 31/12/2016 -
2. 31/12/2017 -
IV.Carrying Value
1.31/12/2016 658,375.09
2.31/12/2017 78,750.00
13. Goodwill
Unit: RMB
Investee 31/12/2016 and 31/12/2017
Shanghai Jinjiang International Convention Co., Ltd(Note) 631,400.11
Note: At the end of this reporting period, the Group assessed the recoverable amount of the goodwill, which is
determined based on the present value of expected future cash flows. The future cash flow projections
are based on financial budgets approved by management covering 2018 to 2022. Other key assumptions
used in the projections of present value of future cash flow include: annual average growth rate and
discount rate of exhibition business revenue based on past performance of the asset and projected
market development estimated by the management. Management determined that there was no
impairment loss on goodwill related to the Group.
14. Long-term prepaid expenses
Unit: RMB
Item 31/12/2016 Transfer in from CIP Amortization 31/12/2017
Decoration expenditure of fixed
1,651,639.89 1,296,339.59 (879,394.24) 2,068,585.24
assets under operating leases
Page 46
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
15. Deferred tax assets and deferred tax liabilities
Note: Deferred tax assets and deferred tax liabilities are not offset for presentation purpose.
(1) Recognized deferred tax assets and deferred tax liabilities
Unit: RMB
Closing balance of Closing balance of Opening balance of Opening balance of
Deductible and Taxable deferred tax assets or Deductible and deferred tax assets or
Item
temporary differences liabilities Taxable temporary liabilities
differences
Deferred tax assets:
Deductible losses 60,392,205.64 15,098,051.41 39,998,919.05 9,999,729.76
Total 60,392,205.64 15,098,051.41 39,998,919.05 9,999,729.76
Deferred tax liabilities:
Changes in fair value of
Available-for-sale 540,658,459.40 135,164,614.85 608,363,312.19 152,090,828.03
financial assets
Fair value adjustment on
non-current assets in
5,849.72 1,462.43 9,979.05 2,494.75
business combinations not
involving common control
Total 540,664,309.12 135,166,077.28 608,373,291.24 152,093,322.78
(2) Unrecognized deferred tax assets
Unit: RMB
Item 31/12/2017 31/12/2016
Deductible losses 36,739,673.10 25,405,805.16
Deductible temporary differences 2,005,854.31 2,105,049.41
Total 38,745,527.41 27,510,854.57
The Group has not recognized the items above as deferred tax assets due to the unpredictability of future taxable
profit.
(3) The deductible losses which are not recognized as deferred tax assets will expire as follows:
Unit: RMB
Period 31/12/2017 31/12/2016
2017 - 838,833.00
2018 5,660,456.15 5,660,456.15
2019 2,856,651.19 2,856,651.19
2020 11,712,589.07 11,712,589.07
2021 13,792,009.16 4,337,275.75
2022 2,717,967.53 -
Total 36,739,673.10 25,405,805.16
Page 47
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
16. Other non-current assets
Unit: RMB
Item 31/12/2016 and 31/12/2017
Air-tickets-agent business deposit 2,100,000.00
Other deposits (Note) 866,851.80
Total 2,966,851.80
Note: Others represent deposits placed with Freight Forwarders Associations and deposits placed for
membership of golf course.
17. Accounts payable
(1) Details of accounts payables are as follows:
Unit: RMB
Item 31/12/2017 31/12/2016
Accounts payable for tourism 75,872,729.47 82,897,755.17
Others 585,714.77 5,852,469.24
Total 76,458,444.24 88,750,224.41
(2) There is no significant accounts payable aging greater than 1 year at the end of this reporting period.
18. Receipts in advance
(1) Details of receipts in advance are as follows:
Unit: RMB
Item 31/12/2017 31/12/2016
Advances from customers for tourism 157,007,119.51 168,681,275.38
Others 2,897,307.71 3,482,725.05
Total 159,904,427.22 172,164,000.43
(2) There is no significant receipts in advance aging greater than 1 year at the end of this reporting period.
19. Employee benefits payable
(1) Details for employee benefits payable
Unit : RMB
Item 12/31/2016 Additions Decreases 12/31/2017
1.Short-term employee benefits
25,752,526.39 122,674,762.87 (125,364,123.70) 23,063,165.56
payable
2. Post-employment benefits –
907,889.69 16,867,337.06 (16,892,703.35) 882,523.40
defined contribution plan
Total 26,660,416.08 139,542,099.93 (142,256,827.05) 23,945,688.96
Page 48
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
19. Employee benefits payable - continued
(2) Short-term employee benefits payables
Unit: RMB
Item 31/12/2016 Additions Decreases 31/12/2017
I. Wages or salaries, bonus,
20,343,579.14 91,760,299.32 (90,032,649.33) 22,071,229.13
allowance, subsidies
II.Staff welfare 64,438.00 7,894,557.38 (7,919,207.38) 39,788.00
III.Social security contributions 398,041.36 8,935,189.38 (8,953,920.52) 379,310.22
Including: medical insurance 359,939.45 7,858,610.23 (7,877,192.46) 341,357.22
Work injury insurance 9,445.10 277,689.98 (277,619.88) 9,515.20
Maternity insurance 28,656.81 798,889.17 (799,108.18) 28,437.80
IV.Housing fund - 8,982,388.00 (8,982,035.00) 353.00
V.Labor union and employee
223,716.39 1,935,244.45 (1,808,255.13) 350,705.71
education osts
VI.Others 4,722,751.50 3,167,084.34 (7,668,056.34) 221,779.50
Total 25,752,526.39 122,674,762.87 (125,364,123.70) 23,063,165.56
(3) Defined contribution plan
Unit: RMB
Items 31/12/2016 Additions Decreases 31/12/2017
1.Basic pension contribution 860,232.88 16,431,448.61 (16,441,722.69) 849,958.80
2.unemployment insurance 47,656.81 435,888.45 (450,980.66) 32,564.60
Total 907,889.69 16,867,337.06 (16,892,703.35) 882,523.40
The Group contributes to government-regulated basic pension plans and employment insurance plans. The
Group remits 14%, 20% or 21% of employees’ average monthly salaries of prior year to these plans respectively.
The Group has no additional obligations except these monthly remittance. These payments are recognized in net
income or costs of related assets as incurred.
The Group should remit RMB 16,431,448.61 and RMB 435,888.45 to pension plans and employment insurance
plans respectively this year (2016: RMB 16,378,636.23 and RMB 862,767.62). As at 31 December 2017, the
Group still need to pay RMB 849,958.80 and RMB 32,564.60 (2016: RMB 860,232.88 and RMB 47,656.81) to
the pension plans and employment insurance respectively. Related payments are paid after year end.
20. Taxes payable
Unit: RMB
Item 31/12/2017 31/12/2016
Income tax 4,561,971.28 8,289,007.69
VAT 1,640,328.26 1,535,304.42
Others 1,728,616.36 2,223,365.02
Total 7,930,915.90 12,047,677.13
Page 49
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
21. Other payables
(1) Details of other payables are as follows by nature:
Unit: RMB
Item 31/12/2017 31/12/2016
Deposits 20,796,733.32 20,860,186.90
Receipts of disposal of entrusted shares (Note) 12,980,194.41 -
Advances 3,508,708.88 2,756,541.58
Labor costs 493,700.00 1,284,560.76
Others 14,722,405.23 14,893,499.92
Total 52,501,741.84 39,794,789.16
Note: On 22 December 2017, as required by CITS Group Corporation, the Company approved the disposal of
1,224,389 shares of YuYuan Inc. holding on behalf of CITS Group Corporation, receiving RMB of
12,980,194.41.
(2) At the end pf this reporting period, other payables aging more than 1 year mainly refers to deposit received.
22. Share capital
Unit: RMB
Changes for the year
Opening balance Capitalization Closing Balance
New issue Bonus Sub-
of surplus Others
of share issue tota
reserve
2017：
I.Restricted tradable
shares- State-owned legal 66,556,270.00 - - - - - 66,556,270.00
person shares
II.Tradable
shares-Foreign capital 66,000,000.00 - - - - - 66,000,000.00
shares listed domestically
III.Total shares 132,556,270.00 - - - - - 132,556,270.00
23. Capital reserve
Unit: RMB
Item Opening balance Addition Reduction Closing Balance
Capital premium - Capital invested by investors 166,391,273.66 - - 166,391,273.66
Other capital reserve - Transfer from capital
33,557,683.87 - - 33,557,683.87
reserve under the previous accounting system
Total 199,948,957.53 - - 199,948,957.53
24. Other Comprehensive Income
Unit: RMB
Changes in this reporting period
Less: amounts OCI to
Item Opening balance OCI before income Less: income tax OCI to controlling Closing balance
transferred into net minority
taxes expenses shareholders
income shareholders
OCIs that will be transferred
456,272,484.16 8,914,394.45 (76,619,247.24) 16,926,213.18 (50,778,639.61) - 405,493,844.55
into profit or loss
Fair value changes in AFS
456,272,484.16 8,914,394.45 (76,619,247.24) 16,926,213.18 (50,778,639.61) - 405,493,844.55
financial assets
Total 456,272,484.16 8,914,394.45 (76,619,247.24) 16,926,213.18 (50,778,639.61) - 405,493,844.55
Page 50
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
25. Surplus reserve
Unit: RMB
Item Opening balance Addition Reduction Closing Balance
Statutory surplus reserve 122,952,878.63 - - 122,952,878.63
Discretionary surplus
24,845,963.53 - - 24,845,963.53
reserve
Total 147,798,842.16 - - 147,798,842.16
Pursuant to the PRC Company Law and Article of association, the Company appropriates 10% of net profit for
the year as statutory surplus reserve and may stop the appropriation when it reaches 50% of if share capital.
Closing balance of statutory surplus reserve of the Company is RMB 122,952,878.63 representing 50% of the
capital. Therefore, no provision was made for the statutory surplus reserve for the reporting period.
26. Retained profits
Unit: RMB
Item 2017 2016
Retained profits at beginning of year 231,282,050.74 200,632,115.64
Add: Net profit attributable to owners of the parent for the
61,228,732.75 61,137,877.20
year
Less: Appropriation to statutory surplus reserve - -
Dividends payable of common shares (Note 1) 30,753,054.64 30,487,942.10
Retained profits at end of year(Note 2) 261,757,728.85 231,282,050.74
Note 1: Last year's cash dividends approved by shareholders' meeting during the year。
On 8 June 2017, a resolution was approved by the general meeting of shareholders to distribute
dividends RMB 2.32(tax included) per share for every ten shares on the basis of 132,556,270 issued
shares, amounting to RMB 30,753,054.64.
Note 2: Profit distribution decided after the balance sheet date
On 27 March 2018, according to the proposal of the board of directors, RMB 2.34 (tax included) per
share for every ten shares on the basis of 132,556,270 issued shares will be distributed to all the
shareholders for 2017. The proposal is still up for approval of general meeting of shareholders of the
Company.
27. Operating income and operating costs
(1) Operating income and operating costs
Unit: RMB
2017 2016
Item
Revenue Costs Revenue Costs
Principal business 1,684,328,122.69 1,565,116,788.03 1,882,277,277.75 1,758,161,105.06
Other business 25,857,310.05 11,086,251.46 25,253,864.51 9,844,036.72
Total 1,710,185,432.74 1,576,203,039.49 1,907,531,142.26 1,768,005,141.78
Page 51
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
27. Operating income and operating costs - continued
(2) Principal business (by industry)
Unit: RMB
2017 2016
Category
Revenue Costs Revenue Costs
Tourism and related business 1,676,907,848.02 1,559,801,229.89 1,874,612,284.74 1,752,574,747.78
Others 7,420,274.67 5,315,558.14 7,664,993.01 5,586,357.28
Total 1,684,328,122.69 1,565,116,788.03 1,882,277,277.75 1,758,161,105.06
(3) Principal business (by region)
(1) Unit: RMB
2017 2016
Category
Revenue Costs Revenue Costs
Mainland China 1,541,125,375.91 1,437,061,444.16 1,774,583,252.90 1,666,514,578.63
Other regions outside
143,202,746.78 128,055,343.87 107,694,024.85 91,646,526.43
Mainland
Total 1,684,328,122.69 1,565,116,788.03 1,882,277,277.75 1,758,161,105.06
(4) Other operating income
Unit: RMB
2017 2016
Category
Revenue Costs Revenue Costs
Rental revenue 16,003,534.67 5,246,779.24 15,885,589.19 4,890,729.81
Property lease service 9,853,775.38 5,839,472.22 9,368,275.32 4,953,306.91
Total 25,857,310.05 11,086,251.46 25,253,864.51 9,844,036.72
28. Taxes and levies
Unit: RMB
Item 2017 2016
Property tax 2,130,058.44 2,438,384.29
Urban maintenance and construction tax 1,336,089.86 1,034,607.49
Education surcharge 913,592.63 834,920.08
Others 114,626.75 165,497.24
Business tax - 2,396,550.11
Total 4,494,367.68 6,869,959.21
29. Selling and distribution expenses
Unit: RMB
Item 2017 2016
Employee benefits 98,707,457.07 99,634,709.08
Operating Rental 5,084,435.48 3,946,490.08
Labor cost 2,473,128.57 6,019,084.07
Advertisement fee 6,217,921.33 5,766,626.60
Others 7,803,316.96 8,648,489.02
Total 120,286,259.41 124,015,398.85
Page 52
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
30. Administrative expenses
Unit: RMB
Item 2017 2016
Employee benefits 38,361,514.29 39,715,956.20
Depreciation and amortization 4,871,067.15 5,808,792.85
Energy and supplies expense 2,143,431.17 2,477,258.09
Entertainment Expense 142,549.04 425,566.07
Others 8,173,203.51 10,937,715.68
Total 53,691,765.16 59,365,288.89
31. Financial expenses
Unit: RMB
Item 2017 2016
Interest Income (8,655,944.18) (9,413,482.50)
Exchange difference 1,557,141.49 2,276,227.34
Others 2,572,175.57 2,809,799.93
Total (4,526,627.12) (4,327,455.23)
32. Impairment losses (reversal) of assets
Unit: RMB
Item 2017 2016
Bad debt loss (Reversal) (99,195.10) (1,513,121.69)
33. Investment income
(1) Details of investment income are as follows:
Unit: RMB
Item 2017 2016
Investment income of long-term equity recognized
4,024,548.63 7,375,865.40
under equity method
Gains from disposal of long-term equity investment 2,739,009.89 -
Investment income on available-for-sale financial
27,797,885.24 24,359,796.55
assets
Investment income from disposal of financial assets
632,485.99 -
recognized in profit or loss at fair value
Investment gains on disposal of available-for-sale 76,619,247.24 79,026,886.95
financial assets
Investment income from securities margin trading 39,376.71 -
Total 111,852,553.70 110,762,548.90
Page 53
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
33. Investment income - continued
(2) Investment income (Losses) on long-term equity investment under equity method:
Unit: RMB
Investee 2017 2016
Shanghai Jinjiang Business and Travel Auto
Service Co., Ltd. 6,216,028.90 5,766,685.02
Shanghai Huangpu River Cruise Co., Ltd. 639,300.49 1,723,174.27
China Oriental International Travel & Transport Co., Ltd. 4,557.38 7,452.47
Shanghai Waihang International Travel Service Co., Ltd. (2,729,460.37) 67,197.67
Shanghai Oneday Travel Service Co., Ltd. (120,858.08) (202,974.97)
Shanghai Juxing Property Management Co., Ltd. 14,980.31 14,330.94
Total 4,024,548.63 7,375,865.40
There is no significant restriction on remittance of the Group’s gains on investment.
(3) Investment income from available-for-sale financial assets during the holding period
Unit: RMB
Stock Name Stock Code 2017 2016
Shanghai Pudong
600000 4,617,195.00 13,757,979.35
Development Bank
Bank of communications 601328 21,720,003.26 8,274,825.00
YuYuan Inc. 600655 1,195,483.00 2,032,321.10
Shenwan Hongyuan 000166 218,622.50 242,913.90
Others 46,581.48 51,757.20
Total 27,797,885.24 24,359,796.55
Note: In the reporting period, Shanghai Pudong Development Bank distributed a cash dividend of RMB 2
for every 10 shares, with 3 bouns shares for every 10 shares (2016: RMB 5.15, with 1 bouns shares
for every 10 shares) to all the shareholders; Bank of Communications distributed a cash dividend of
RMB 2.715 for every 10 shares (2016: RMB 2.70) to all the shareholders; YuYuan Inc. distributed a
cash dividend of RMB 1.00 for every 10 shares (2016: RMB 1.70) to all the shareholders; Shenwan
Hongyuan distributed a cash dividend of RMB 1.00 for every 10 shares (2016: RMB 1.50, with 3.5
bouns shares for every 10 shares) to all the shareholders.
(4) Gains on disposal of available-for-sale financial assets
Unit: RMB
2017 2016
AFS financial asset Stock Code
Sale of shares Gains Sale of shares Losses
Shanghai Pudong
600000 6,811,768 72,785,442.54 6,000,000 79,026,886.95
Development Bank
YuYuan Inc. 600655 401,658 3,833,804.70 - -
Total 76,619,247.24 79,026,886.95
Page 54
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
34.Other income
Unit: RMB
Extraordinary
Item 2017 2016 gains and losses
in current year
Government grants 2,457,109.41 - 2,457,109.41
Total 2,457,109.41 - 2,457,109.41
35.Non-operating Income
(1) Details of non-operating income are as follows:
Unit: RMB
Extraordinary
Item 2017 2016 gains and losses
in current year
Government grants 1,800,000.00 6,902,884.60 1,800,000.00
Others 49,672.45 832,477.53 49,672.45
Total 1,849,672.45 7,735,362.13 1,849,672.45
(2) Details of government grants are as follows:
Unit: RMB
Related to assets /
Item 2017 2016
Related to income
Financial support funds 1,800,000.00 6,572,560.00 Related to income
Others - 330,324.60 Related to income
Total 1,800,000.00 6,902,884.60
36. Income tax expenses
Unit: RMB
Item 2017 2016
Current tax expense 19,260,227.33 17,193,605.14
Deferred tax expense income tax (5,099,353.97) (4,419,024.95)
Previous year supplementary payment (refund) income tax (325,742.30) (372,192.96)
Total 13,835,131.06 12,402,387.23
Reconciliation of income tax expenses to the accounting profit is as follows:
Unit: RMB
2017 2016
Accounting profit 76,190,923.49 73,439,356.33
Income tax expenses calculated at 25% 19,047,730.88 18,359,839.08
Effect of expenses that are not deductible for tax purposes 72,749.78 28,669.39
Effect of tax-free income (7,958,265.24) (7,933,915.50)
Effect of unrecognized deductible losses and deductible
3,018,376.46 2,323,696.26
temporary differences for tax purposes
Effect of different tax rates of subsidiaries operating
(19,718.52) (3,709.04)
in other jurisdictions
Previous year supplementary payment (refund) income tax (325,742.30) (372,192.96)
Total 13,835,131.06 12,402,387.23
Page 55
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
37. Notes to items in the cash flow statements
(1) Other cash receipts relating to operating activities:
Unit: RMB
Item 2017 2016
Decrease in letter of guarantee deposit (Note) 14,100,000.00 -
Cash receipts from government grants 4,257,109.41 6,902,884.60
Cash receipts from interest income 8,655,944.18 2,808,092.09
Decrease of restricted monetary funds 241,373.60 1,400,000.00
Others 14,692,262.37 9,632,477.53
Total 41,946,689.56 20,743,454.22
(2) Other cash payments relating to operating activities
Unit: RMB
Item 2017 2016
Cash payments relating to selling and distribution
23,080,462.24 21,507,681.05
expenses/administrative expenses
Increase of L/C deposit (Note) 7,100,000.00 14,100,000.00
Cash payments relating to bank charges 2,572,175.57 2,809,799.93
Increase in other restricted currency funds - 202,400.00
Others 1,751,244.57 3,801,765.79
Total 34,503,882.38 42,421,646.77
Note: The Group coorporates in the field of tourism with Shanghai Disneyland Resort. According to related
requirements, the Group need to pledge time deposits in Shanghai Bund Branch of ICBC for issuing
letter of guarantee to Shanghai International Theme Park Co., Ltd and Shanghai International Theme
Park Facilities Co., Ltd. On 25 April 2017, the Group pledged time deposits amounting to RMB
7,100,000.00 in Shanghai Bund Branch of ICBC. On 31 May 2017, the Group's time deposits of RMB
14,100,000.00 pledged since 31 May 2016 were due and recovered.
Page 56
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
38. Supplementary information to the cash flow statements
(1) Supplementary information to the cash flow statements
Unit: RMB
Supplementary information 2017 2016
I. Reconciliation of net profit to cash flow from operating
activities:
Net profit 62,355,792.43 61,036,969.10
Add: Provision(Reversal) for asset impairment (99,195.10) (1,513,121.69)
Depreciation of fixed assets and investment property 9,896,443.07 10,189,364.43
Amortization of intangible assets 579,625.09 558,874.95
Amortization of long-term prepaid expenses 879,394.24 868,766.65
Gain (loss) on disposal of fixed assets, intangible
(175,077.50) (297,373.88)
assets and other long-term assets
Loss (Gain) on retirement of fixed assets 95,836.79 74,980.49
Loss (Gain) on change in fair value (10,627.08) -
Financial Expense - (6,605,390.41)
Investment losses (gains) (111,852,553.70) (110,762,548.90)
Decrease (Increase) in deferred tax assets (5,098,321.65) (4,417,992.63)
Increase (Decrease) in deferred tax assets (1,032.32) (1,032.32)
Decrease(Increase) in inventories 50,407.26 7,803.75
Decrease (Increase) in operating receivables (11,620,481.73) (8,332,939.01)
Increase(Decrease) in operating payables (5,678,401.39) 7,293,672.74
Decrease (Increase) in restricted cash 7,241,373.60 (12,902,400.00)
Net cash flow from operating activities (53,436,817.99) (64,802,366.73)
II. Significant investing and financing activities that
do not involve cash receipts and payments:
III. Net changes in cash and cash equivalents:
Closing balance of cash and cash equivalents 212,570,841.14 216,596,205.61
Less: Opening balance of cash and cash equivalents 216,596,205.61 284,953,830.78
Net Increase (decrease) in cash and cash equivalents (4,025,364.47) (68,357,625.17)
(2) Cash and cash equivalents
Unit: RMB
Item 31/12/2017 31/12/2016
I．Cash 157,570,841.14 216,596,205.61
Including: Cash on hand 193,137.53 162,223.52
Bank deposits that can be readily withdrawn 155,295,730.57 215,946,821.47
Other cash and bank balances that can be readily 2,081,973.04 487,160.62
II．Cash equivalents 55,000,000.00
III．Closing balance of cash and cash equivalents 212,570,841.14 216,596,205.61
39. Assests restricted on ownership or on right to use
Unit: RMB
Item Carrying value at Reason for restriction
Cash and bank balances (Note (VI) 1, Note (VI) 37) the7,100,000.00
year-end Pledged
Available-for-sale financial assets (Note (VI) 7(2)) 1,428,300.00 Securities margin trading
Total 8,528,300.00
Page 57
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VI. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
40.Foreign currency monetary items
(1) Foreign currency monetary items
Closing balance of Closing balance of
Item Exchange rate
foreign currency RMB equivalent
Cash and bank balances
Incluing: USD 1,766,110.47 6.5342 11,540,119.02
EUR 167,338.88 7.8023 1,305,628.12
JPY 6,996,727.69 0.057883 404,991.59
AUD 24,724.72 5.0928 125,918.05
Accounts receivable
Incluing: USD 3,087,479.91 6.5342 20,174,211.25
Accounts payable
Incluing: EUR 822,399.54 7.8023 6,416,607.97
JPY 72,891,322.21 0.057883 4,219,168.40
HKD 325,242.78 0.8359 271,870.44
USD 16,652.05 6.5342 108,807.86
AUD 4,968.77 5.0928 25,304.95
NZD 234,521.44 4.6327 1,086,467.48
(2) The Group has no overseas operation entities.
Page 58
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VII. EQUITY INTERESTS IN OTHER COMPANIES
1. Interests in subsidiaries
Subsidiaries of the Group(Note 1)
Proportion of shares
Main Nature held by the entity
Investee Location of Place of Registration of (%) Acquisition Method
Operation Business
Direct Indirect
Shanghai China International Travel Service Co., Ltd (“Shanghai
1 China West Beijing Road, Floor 7 & 8, Jing’ an District, Shanghai Service 90.00 10.00 Acquired through establishment or investment
China International”)
1277 West Beijing Road, Basement Room 101, Jing’ an District,
2 Shanghai Guozhilv Property Management Co., Ltd China Service 90.00 10.00 Acquired through establishment or investment
Shanghai
3 Shanghai Guozhilv International Cargo Services Co., Ltd China 889 South Yanggao Road, Room 215, Pudong District, Shanghai Service 90.00 10.00 Acquired through establishment or investment
4 Shanghai Guozhilv Tour Guide Service Co., Ltd. China 1277 West Beijing Road, Room 601, Jing'an District, Shanghai Service 68.00 32.00 Acquired through establishment or investment
457 Gumei Road, Floor 2, Room 205, Minghang District,
5 Shanghai CITS Advertising Corporation China Service 100.00 - Acquired through establishment or investment
Shanghai
Shanghai Jinjiang International Green Holiday Travel Co., Ltd.
6 China 9188 Caolang Road, Langxia Village, Jinshan District, Shanghai Service 70.00 - Acquired through establishment or investment
(“Green Holiday”)
77 North Qiutao Road, Floor 10, Room 19, Jianggan District,
7 Zhejiang Jinlv International Travel Co., Ltd.(“Zhejiang Jinlv”) China Service 90.00 10.00 Acquired through establishment or investment
Hangzhou
Acquired as subsidiary company during business
8 Shanghai Jinjiang Tourism Holding Co., Ltd. . (“Jinlv Holdings”) China 191 Changle Road, Huangpu District, Shanghai Service 90.00 10.00
combination of company under the same control
50.00
Room 209,Building 4,191 Changle Road, Huangpu District,
9 Shanghai Jinjiang International Convention Co., Ltd China Service - (Note Acquired through establishment or investment
Shanghai
2)
Acquired as subsidiary company during business
10 Shanghai Travel Agency Co., Ltd China 739 Fuzhou Road, Huangpu District, Shanghai Service 98.00 2.00
combination of company under the same control
58-3 South Maoming Road, Room 610, Huangpu District, Acquired as subsidiary company during business
11 Shanghai Huating Overseas Tourism Co., Ltd. China Service 90.00 10.00
Shanghai combination of company under the same control
Acquired as subsidiary company during business
12 Shanghai Jinjiang Overseas Affairs Service Co., Ltd. China 191 Changle Road, Huangpu District, Shanghai Service 90.00 10.00
combination of company under the same control
Acquired as subsidiary company during business
13 Beijing Jinjiang International Travel Co., Ltd. China 89 Jianguo Road, Bldg 15, Unit 1502, Chaoyang District, Beijing Service 80.00 -
combination of company under the same control
Note 1: Disclosures above cover all subsidiaries of the Group, including 12 first level subsidiaries and 1 second level subsidiary. All non-wholly owned subsidiaries are
insignificant.
Note 2: Pursuant to the Article of Association, the Group holds over half voting proportion and then has a control over the Company.
Page 59
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VII. EQUITY INTERESTS IN OTHER COMPANIES - continued
2. Equity interests in associate companies
(1) Significant associate companies
Unit: RMB
Proportion of shares held by
Main Location of Accounting treatment of
Investee Place of Registration Nature of Business the entity (%)
(2) F Operation
Direct Indirect
investment in associate companies
i Room 493, 6111, Bldg 1, Longdong Avenue,
Shanghai Jin Jiang Business and Travel Auto Services Co., Ltd China Tourism and related service 20.00 - Equity Method
n Pudong District, Shanghai
a 3E-2165, No.2123 Pudong Avenue, Pudong
Shanghai Waihang International Travel Service Co., Ltd. China Tourism and related service 30.00 - Equity Method
District, Shanghai
n
cial information of significant associate companies
Unit: RMB
31/12/2017 31/12/2016
Shanghai Jinjiang Business Shanghai Waihang Shanghai Jinjiang Business Shanghai Huangpu River Shanghai Waihang
and Travel Auto Service Co., International Travel Service and Travel Auto Service Co., Cruise Co., Ltd. International Travel Service
Ltd. Co., Ltd. Ltd. Co., Ltd.
Current assets 130,817,966.36 8,632,066.51 90,102,085.19 16,893,924.39 22,787,025.21
Non-current assets 250,754,622.02 902,746.70 294,104,535.51 88,643,737.74 1,562,846.51
Total assets 381,572,588.38 9,534,813.21 384,206,620.70 105,537,662.13 24,349,871.72
Current liabilities 65,303,963.68 6,766,904.12 89,242,490.48 52,533,255.37 12,483,761.38
Non-current liabilities - - 9,775,650.00 - -
Total liabilities 65,303,963.68 6,766,904.12 99,018,140.48 52,533,255.37 12,483,761.38
Minority interest - - - - -
Minority interest attributable to the Company 316,268,624.70 2,767,909.09 285,188,480.22 53,004,406.76 11,866,110.34
Net asset ratio according to shareholding ratio 63,253,724.94 830,372.73 57,037,696.04 10,600,881.35 3,559,833.10
Book value of equity investments in associate
63,253,724.94 830,372.73 57,037,696.04 10,600,881.35 3,559,833.10
companies
Operating income 319,605,326.70 72,121,900.82 312,444,376.98 62,814,058.20 108,780,768.39
Net income 31,080,144.48 (9,098,201.25) 28,833,425.09 1,857,133.28 223,992.24
Other comprehensive income - - - - -
Total comprehensive income 31,080,144.48 (9,098,201.25) 28,833,425.09 1,857,133.28 223,992.24
Dividends received from associates this year - - - - 150,000.00
Page 60
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VII. EQUITY INTERESTS IN OTHER COMPANIES - continued
2. Equity interests in associate companies - continued
(3) Financial information of insignificant associate companies
Unit: RMB
31/12/2017 and 2017 31/12/2016 and 2016
Associates
Total book value of investment 1,318,787.42 1,420,107.81
Calculation according to shareholding
percentage as follows:
-- Net profit (loss) (167,581.02) (181,191.56)
-- Other comprehensive income - -
--Other comprehensive income
Total comprehensive income(loss) (167,581.02) (181,191.56)
(4) Transferring cash and cash equivalents from the associate companies to the Group has no significant
limitations.
(5) Significant accounting losses of associates
人民币元
Closing
Unrecognized
Losses unrecognized unrecognized
Name of asscoiates accumulated losses for
in 2017 accumulated losses
prior period
in 2017
Shanghai Oneday Travel Service (66,260.63)
- (66,260.63)
Co.,Ltd.
Total - (66,260.63) (66,260.63)
(6) The Group has no contingent liability with respect to its investment in associates.
VIII. FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
The Group's major financial instruments include cash and bank balances, accounts receivable, other receivables,
available-for-sale financial assets, accounts payable and other payables etc. Details of these financial
instruments are disclosed in Note (VI). The risks associated with these financial instruments and the respective
risk management policies are set out below. Management supervises and monitors the risk exposures to ensure
appropriate measures are implemented in a timely and effective manner.
1.Risk management objectives and policies
The Group's risk management objectives are to achieve proper balance between risks and yield, to minimize the
adverse impacts of risks on the Group's operational performance, and to maximize the benefits of the
shareholders and other equity investors. Based on these risk management objectives, the Group's basic risk
management strategy is identifying and analyzing the industry's exposure to various risks, establishing
appropriate bottom lines for risk tolerance, implementing risk management, and monitoring various risks in a
timely and reliable manner to ensure risks are under control and within certain limits.
Page 61
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VIII. FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - continued
1.Risk management objectives and policies - continued
1.1 Market risk
1.1.1 Currency risk
Currency risk is the risk that losses will occur because of changes in foreign exchange rates. The Group’s
exposure to the currency risk is primarily associated with USD, EUR, JPY, AUD and HKD, and the Group's
principal activities are denominated and settled in RMB. As of 31 December 2017, the Group's exposure to the
currency risk is primarily associated with cash and bank balances, accounts receivable and accounts payable.
The currency risks arising from the assets and liabilities balances denominated in foreign currency may have
impact on the Group's operational performance. The Group pays close attention to the effect of exchange rate
fluctuation on currency risk. The Group does not have a specific policy to manage its foreign currency risks.
Unit: RMB
Item Ending balance Beginning balance
Cash and bank balances 13,376,656.78 9,269,809.85
Accounts receivable 20,174,211.25 9,966,072.43
Accounts payable 11,041,759.62 25,580,118.26
Sensitivity analysis
Where all other variables are held constant, the reasonably possible changes in the foreign exchange rate may
have the following pre-tax effect on the profit or loss for the period and equity:
Unit: RMB
2017 2016
Item Exchange rate fluctuation Effects on Effects on
Effects on profit Effects on profit
shareholders' equity shareholders' equity
All foreign currency Appreciate 10% upon RMB (1,606,698.07) (1,606,698.07) (634,423.60) (634,423.60)
All foreign currency Depreciate10% upon RMB 1,606,698.07 1,606,698.07 634,423.60 634,423.60
1.1.2 Interest risk
Interest rate risk is the risk that changes in the fair value or future cash flow will occur because of changes in
interest rates. The Group's exposure to the interest rate risk is primarily associated with cash and bank balances
as of 31 December 2017. The Group believes the interest rate risk it currently faces does not have significant
impact on the Group's performance.
1.1.3 Other price risks
Other price risks refer to market risks other than currency risk and interest risk. As of 31 December 2016, the
Group's exposure to other prices risks is primarily associated with the fair value changes of available-for-sale
securities due to stock price changes. Please see Note (VI) 7 for the balance of available-for-sale equity
instruments as of 31 December, 2017. The other price risks faced by the Group due to the asset fair value
measurement could impact the Group's operational performance and shareholder's equity. The Group pays close
attention to the effect of stock price fluctuation on other price risks. The Group conducts the following
sensitivity analysis, and concludes that the current stock price risk has significant impact on operation of the
Group.
The Group faces risks as a result of holding financial assets measured at fair value. As of 31 December 2017,
the Group holds RMB 947,371,107.05 worth of fair value financial assets. Where all other variables are held
constant, the stock price would have reasonable fluctuations: a 10% increase (decrease) of prices of relevant
equity instruments may lead to a RMB 71,052,833.03 increase (decrease) on the Group's shareholders' equity
while no impact over net profit.
Page 62
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
VIII. FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - continued
1. Risk management objectives and policies - continued
1.2 Credit risk
As at 31 December 2017, the biggest credit risk exposure the Group faces mainly comes from the financial loss
resulted from failure to discharge an obligation by the counterparties, including the carrying amount of the
financial assets recognized in the consolidated balance sheet.
In order to reduce credit risk, the Company and its subsidiaries assign particular staff with responsibility in
credit line determination, credit approval, and other monitoring procedures to ensure that necessary measures
are in place to recover overdue debts. In addition, at each balance sheet date the Group audits the balances of
accounts receivable to ensure that sufficient provisions are made for bad debts. Therefore, the management of
the Group believes the credit risk is significantly reduced. Besides, the Group takes necessary measures to
ensure good credit record of its customers, and the management believes that there is no concentration of credit
risk except for the top five entities with the largest balances of accounts receivable disclosed in Note (VI) 2(3)
and operating funds collected by E-commerce sales platform on behalf in other receivables disclosed in Note
(VI) 4(3).
The credit risk on liquid funds is limited because the counterparties are banks with high credit ratings assigned
by international credit-rating agencies.
1.3 Liquidity risk
Liquidity risk is the fund shortage risk a company faces while meeting financial obligations. In the management
of the liquidity risk, the Group monitors and maintains a level of cash and cash equivalents deemed adequate by
the management to finance the Group’s operations and mitigate the effects of fluctuations in cash flows.
The cash and cash equivalents are the Group’s only source of funds and there are no bank loans. The terms to
maturity of financial liabilities are generally between 1-3 months. Given the relatively low level of
debt-to-capital ratio and the financial capacity, the Group’s management believes it has no significant
concentration of liquidity risk.
2. Transfer of financial assets
During the year, the Group runs securities margin trading via the platform of China Securities Finance
Corporation Limited, lending out 2,258,400 shares of SPD Bank share and 797,500 shares of Bank of
Communications share in total. As at 31 December 2017, except that 230,000 shares of Bank of
Communications share are still used for the securities margin trading, the rest of shares used for the securities
margin trading have been recovered. As the Group has still undertaken risk of change in the fair value of shares
lent out, during the period of lending secruities, the Group continues to fully recognize the carrying amount of
available-for-sale financial assets.
3. Capital management
The Group manages its capital by optimizing the structure of liabilities and shareholders’ equity to ensure
continuous operation and maximized return on equity. The Group has no external regulations on capital
management. The Group is not intended to finance its operation by loans.
Page 63
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
IX. DISCLOSURE OF FAIR VALUE INFORMATION
1. Year end balances of Assets and Liabilities measured at fair value
Unit: RMB
31/12/2017
Level 1 Level 2 Level 3 Total
Continuous fair value measurement
(1) Financial assets at FVTPL 31,071.96 - - 31,071.96
Available-for-sale financial assets
31,071.96 - - 31,071.96
-Equity investment
(2) Available-for-sale financial assets 947,371,170.05 947,371,170.05
-Equity investment 947,371,170.05 - - 947,371,170.05
Total 947,402,242.01 - - 947,402,242.01
2. Basis of continuous and non-continuous fair value measurement with level 1 inputs
The fair value of assets and liabilities at year end is determined by the closing prices on 31 December 2017 on
Shanghai Stock Exchange and Shenzhen Stock Exchange.
3. Fair value information of the financial assets and liabilities not measured at fair value
The book values of all the financial assets and financial liabilities held by the Group not measured at fair value
are approximate to their fair values.
X. RELATED PARTY AND RELATED PARTY TRANSACTIONS
1. Information of parent company
Unit: RMB
Proportion of
Nature or type of Proportion of
Company name Place of registration Registered capital shareholdings
business voting power (%)
(%)
Shanghai Jinjiang
International Hotels (Group) Hotel investment,
Room 316-318, 24 East Yangxin Road,
Co., Ltd. hotel operation and RMB 5566 million 50.21 50.21
Pudong New District, Shanghai
management, others
("Jin Jiang Hotels(Group)")
Additional information of parent company
On 6 June 1995, Jin Jiang Hotels (Group) was restructured from Shanghai New Asia Group Co., Ltd in PRC, of which primary operation includes hotels investment,
food, and others. On 15 December 2006, Jin Jiang Hotels (Group)’s share was approved to list on Hong Kong Stock Exchange. Its parent company and ultimate
holding company is Jin Jiang International (Group) Co., Ltd.
The ultimate holding company of the Group is Jin Jiang International (Group) Co., Ltd. (“Jing Jiang
International”)
Page 64
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
中文草稿
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
X. RELATED PARTY AND RELATED PARTY TRANSACTIONS - continued
2. Subsidiaries information
For details of subsidiaries please refer to Notes (VII) 1.
3. Information of associates
The Group has no joint ventures. For details of associates, please refer to Notes (VII) 2.
4. Other related parties
Name Relationships
HRG Jinjiang Travel (China) Co., Ltd. Associate of ultimate holding company
CTISH Shanghai Associate of ultimate holding company
CTISH Shanghai Yangxiu Subsidiary of ultimate holding company
Shanghai Jin Jiang International E-Commerce Co., Ltd. Subsidiary of ultimate holding company
Jin Jiang International Commerce Co., Ltd.Co., Ltd. Subsidiary of ultimate holding company
Jinjiang International Tourism Center Co., Ltd Subsidiary of ultimate holding company
Shanghai Jinjiang Paradise Co., Ltd. Subsidiary of ultimate holding company
Shanghai New Asia (Group) Photography Company Subsidiary of ultimate holding company
Shanghai East Jin Jiang Hotel Co., Ltd. Subsidiary of ultimate holding company
Shanghai Hua Ting Hotel Ltd. Subsidiary of ultimate holding company
Shanghai Jin Jiang Peace Hotel Co., Ltd. Fellow subsidiary
Jin Jiang International Group Finance Co., Ltd. Fellow subsidiary
Shanghai Municipal Shanghai Hotel Co., Ltd. Fellow subsidiary
Shangh Hyland Hotel Co., Ltd. Fellow subsidiary
Shanghai Hongqiao Hotel Co., Ltd. Fellow subsidiary
Shanghai Jianguo Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Men Hotel Co., Ltd. Fellow subsidiary
Shanghai Cypress Hotel Ltd. Fellow subsidiary
Shanghai Jin Jiang International Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Industrial Investment Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Automobile Services Co., Ltd. Fellow subsidiary
Shanghai Jing Jiang Business and Travel Auto Services Co., Ltd Fellow subsidiary
Shanghai Jinjia Auto Trading Co., Ltd. Fellow subsidiary
Jin Jiang Inn Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Metropolo Hotels Management Co., Ltd. Fellow subsidiary
Vienna Hotel Co.,Ltd Fellow subsidiary
Keystone Lodging Holdings Limited Fellow subsidiary
Shanghai Juxing Property Management Co., Ltd. Associate of the Company
Shanghai Oneday Travel Service Co.,Ltd. Associate of the Company
Enterprises with directors which is the
Shanghai Shendi (Group) Co., Ltd. and its subsidiaries
Company's related natural person
Directors and other senior management Key management personnel
Together, Jinjiang International (Group) Co., Ltd, associate of ultimate holding company, and subsidiary of
ultimate holding company are named as "Jinjiang International and its subsidiaries"; Jinjiang International
Hotels (Group) Co., Ltd and fellow subsidiary companies are together named as "Jinjiang International Hotels
and its subsidiaries", Shanghai Shendi (Group) Co., Ltd. and its subsidiaries are named as "Shendi Group and its
subsidiaries" for short.
Page 65
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
X. RELATED PARTY AND RELATED PARTY TRANSACTIONS - continued
5. Significant transactions between the Group and related parties during the year
(1) Receiving or rendering services and sales or purchase of goods
Receiving services
Unit: RMB
2017 2016
Name of related parties Transaction type
Amount Amount
Jinjiang International and its
Receiving Tourism and related services 16,726,730.08 10,827,127.55
subsidiaries
Shendi Group and its subsidiaries Receiving Tourism and related services 16,539,939.00 -
Jinjiang International Hotels and its Receiving Tourism and related services 5,782,110.27 2,384,163.27
subsidiariesof the Company
Associates Receiving Tourism and related services 34,425.10 109,917.00
Subtotal 39,083,204.45 13,321,207.82
Associates of the Company Receiving Property Management services 759,751.35 684,576.67
Subtotal 759,751.35 684,576.67
Total 39,842,955.80 14,005,784.49
Rendering services
Unit: RMB
2017 2016
Name of related parties Transaction type
Amount Amount
Jinjiang International and its
Rendering Tourism and related services 2,092,931.25 13,447,469.86
subsidiaries
Jinjiang International Hotels and its Rendering Tourism and related services 2,733,519.72 237,733.91
subsidiaries Rendering Tourism and related services 116,378.38 177,395.83
Associate company
Subtotal 4,942,829.35 13,862,599.60
Jin Jiang International and its Rendering Property
1,887,534.00 1,856,304.00
subsidiaries Management services,etc
Subtotal 1,887,534.00 1,856,304.00
Total 6,830,363.35 15,718,903.60
Purchase of goods
Unit: RMB
2017 2016
Name of related parties Transaction type
Amount Amount
Jinjiang International Hotels and its Purchase of fixed assets 632,493.13 -
subsidiaries
The Company's associates Purchase of fixed assets 29,300.00 -
Total 661,793.13 -
Page 66
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
X. RELATED PARTY AND RELATED PARTY TRANSACTIONS - continued
6. Significant transactions between the Group and related parties during the year - continued
(2) Leasing arrangements
The Group as lessor
Unit: RMB
Income recognized Income recognized
Lessee Asset for lease Beginning date Ending date
this year last year
Jin Jiang International and its subsidiaries Offices 1/1/2017 31/12/2017 1,066,260.00 1,066,260.00
The Group as lessee
Unit: RMB
Expense recognized Expense recognized
Lessor Asset for lease Beginning date Ending date
this year last year
Jinjiang International and its Offices 1/1/2017 31/12/2017 372,101.36 5,934,460.53
subsidiaries
Jinjiang International Hotels and its Offices 1/1/2017 31/12/2017 4,727,955.78 1,039,823.21
subsidiaries
Total 5,100,057.14 6,974,283.74
(3) Emoluments for key management personnel
Unit: RMB
Item 2017 2016
1,729,600.00 2,574,500.00
Emoluments for key management personnel
Note: Key administrative personnel represent the people who own the right and responsibility for planning,
directing, and controlling the business activities of the enterprise, including directors and general
manager, chief accountant, director of finance, director of the affairs of the deputy general manager, and
those who perform similar functions. Benefits paid for key administration include cash, physical awards,
and other forms of salary, welfare, bonus, and special treatment.
7. Balance due to/from related parties
(1) Receivables from related parties
Unit: RMB
31/12/2017 31/12/2016
Items Related Parties Bad Debt Bad Debt
Balance Balance
Provision Provision
Accounts
Jin Jiang International and its subsidiaries 732,514.35 - 6,900,011.28 -
receivable
Accounts
Jinjiang International Hotels and its subsidiaries 36,849.00 - 146,520.00 -
receivable
Accounts
Associate Company 123,360.00 - 66,605.70 -
receivable
Subtotal 892,723.35 - 7,113,136.98 -
Other receivables Jin Jiang International and its subsidiaries 7,817,776.90 - 456,757.00 -
194,566.25
Other receivables Jinjiang International Hotels and its subsidiaries - 306,330.00 -
Other receivables Associate Company - - 126,388.28 -
Subtotal 8,012,343.15 - 889,475.28 -
Advance to
Jin Jiang International and its subsidiaries - - 35,220.00 -
supplier
Advance to
Jinjiang International Hotels and its subsidiaries - - 100,000.00 -
supplier
Subtotal - - 135,220.00 -
Page 67
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
X. RELATED PARTY AND RELATED PARTY TRANSACTIONS - continued
7. Balance due to/from related parties - continued
(2) Payables to related parties
Unit: RMB
Items Related Parties 31/12/2017 31/12/2016
Accounts
Jin Jiang International and its subsidiaries 972,457.58 1,217,349.42
payable
Accounts Jinjiang International Hotels and its
1,658,205.46 523,722.26
payables subsidiaries
Accounts
Associate Company 6,000.00 31,200.00
payables
Subtotal 2,636,663.04 1,772,271.68
Other payables Jin Jiang International and its subsidiaries 3,779,946.43 3,985,496.43
Other payables Associate Company 16,445.90 -
Subtotal 3,796,392.33 3,985,496.43
Receipts in Jin Jiang International Hotels and its
40,054.00 260,811.00
advance subsidiaries
Receipts in Jinjiang International Hotels and its
- 596.00
advance subsidiaries
Subtotal 40,054.00 261,407.00
XI. CONTINGENCIES
As of the balance sheet date, the Group has no significant contingent liabilities.
XII. COMMITMENTS
(1) Capital commitments
Unit: RMB’000
31/12/2017 31/12/2016
Signed but not yet recongized in the financial statement
- Long-term asset purchase commitment 3,253 398
(2) Operating lease commitments
As of the balance sheet date, the Group has the following commitments in respect of non-cancellable operating
leases:
Unit: RMB’000
31/12/2017 31/12/2016
Minimum lease payments under non-cancellable
operating leases:
1st year subsequent to the balance sheet day 1,620 4,865
2nd year subsequent to the balance sheet day 432 537
3rd year subsequent to the balance sheet day 256 256
Subsequent periods 141 397
Total 2,449 6,055
XIII. NON-ADJUSTING EVENTS AFTER THE BALANCE SHEET DATE
Refer to Notes (VI) 26 Note 2 for details of proposed profit distribution decided after the balance sheet date. No
other significant non-adjusting events occurred subsequent to balance sheet date.
Page 68
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XIV. SEGMENT REPORTING
1. Segment report information
According to the Group's organization structure, internal management requirements and internal reporting system, the Group identifies its business activities into three
operating segments by which the resource allocation and performance evaluation are performed regularly. On the basis of above three segments, the Group identifies three
reportable segments as follow: tourism and related business segment, the real property business segment and the other business segment. The reportable segments are in
accordance with the operating segments.
Segment information is prepared and presented under the accounting policies of internal reporting to the management, which is in accordance with the accounting policies
used for preparing and presenting the Group's financial statements.
Unit: RMB
Tourism and related business Property business Others Inter-segment offset Undistributed items Total
2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016
Income tax
Revenue arising from external
1,676,907,848.02 1,874,612,284.74 25,857,310.05 25,253,864.51 7,420,274.67 7,664,993.01 - - 1,710,185,432.74 1,907,531,142.26
transactions
Revenue arising from
71,065.97 128,215.03 703,162.35 372,038.50 8,743.40 25,940.00 (782,971.72) (526,193.53) - -
inter-segment transactions
Total segment operating
1,676,978,913.99 1,874,740,499.77 26,560,472.40 25,625,903.01 7,429,018.07 7,690,933.01 (782,971.72) (526,193.53) - 1,710,185,432.74 1,907,531,142.26
income
Operating costs 1,559,801,229.89 1,752,574,747.78 11,086,251.46 9,844,036.72 5,315,558.14 5,586,357.28 - - 1,576,203,039.49 1,768,005,141.78
Segment operating profit 117,177,684.10 122,165,751.99 15,474,220.94 15,781,866.29 2,113,459.93 2,104,575.73 (782,971.72) (526,193.53) - 133,982,393.25 139,526,000.48
Taxes and levies 4,494,367.68 6,869,959.21 4,494,367.68 6,869,959.21
Selling and distributions
120,286,259.41 124,015,398.85 120,286,259.41 124,015,398.85
expenses
Administrative expenses 53,691,765.16 59,365,288.89 53,691,765.16 59,365,288.89
Financial expenses (4,526,627.12) (4,327,455.23) (4,526,627.12) (4,327,455.23)
Impairment loss in
(99,195.10) (1,513,121.69) (99,195.10) (1,513,121.69)
respect of assets (Reversal)
Fair value gain (loss) (10,627.08) - (10,627.08) -
Investment income 111,852,553.70 110,762,548.90 111,852,553.70 110,762,548.90
Gains on disposal of assets 175,077.50 297,373.88 175,077.50 297,373.88
Other income 2,457,109.41 - 2,457,109.41 -
Operating profit 74,631,190.91 66,175,853.23 74,631,190.91 66,175,853.23
Non-operating income 1,849,672.45 7,735,362.13 1,849,672.45 7,735,362.13
Non-operating expenses 289,939.87 471,859.03 289,939.87 471,859.03
Total profit 76,190,923.49 73,439,356.33 76,190,923.49 73,439,356.33
Income tax 13,835,131.06 12,402,387.23 13,835,131.06 12,402,387.23
Net profit 62,355,792.43 61,036,969.10 62,355,792.43 61,036,969.10
Supplemental Information
Impairment loss recognized
(99,195.10) (1,513,121.69) - - - (99,195.10) (1,513,121.69)
(reversed)in the current period
Capital expenditure:
Expense for construction in
5,266,612.07 559,136.37 - - - 5,266,612.07 559,136.37
progress
Purchase of fixed assets 1,019,322.09 250,491.26 - - - - 1,019,322.09 250,491.26
Page 69
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XIV. SEGMENT REPORTING - continued
2. Segment reporting based on products and businesses
Unit: RMB
Items 2017 2016
Tourism and related business 1,676,907,848.02 1,874,612,284.74
Property business 25,857,310.05 25,253,864.51
Other business 7,420,274.67 7,664,993.01
Total 1,710,185,432.74 1,907,531,142.26
3. External revenue and non-current assets based on geographic regions
Unit: RMB
Items 2017 2016
External revenue in Mainland China 1,566,982,685.96 1,799,837,117.41
External revenue outside Mainland China 143,202,746.78 107,694,024.85
Total 1,710,185,432.74 1,907,531,142.26
All non-current assets of the Group are located in mainland China.
4. Dependence on major customers
No major customers that contribute over 10% of the Group's total revenue exist.
Measurement of inter-segment transactions is based on actual transaction price. Segment revenues and expenses
are determined based on actual income and expenses of the segment. Assets and liabilities are allocated based on
assets attributed to or generated from the specific operating segment.
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS
1. Cash and bank balances
Unit: RMB
31/12/2017 31/12/2016
Item Foreign Foreign
Exchange rate RMB Exchange rate RMB
Currency Currency
Cash: 5,148.36 10,681.43
RMB 5,148.36 10,681.43
Cash deposit: 79,072,281.95 126,042,291.61
RMB 78,578,297.87 125,616,187.14
USD 75,599.78 6.5342 493,984.08 61,424.89 6.9370 426,104.47
Other Currency funds (Note): 56,799,096.52 234,800,002.43
RMB 56,799,096.52 234,800,002.43
Total 135,876,526.83 360,852,975.47
Note: At 31 December, 2017, The balance of other cash and bank balances includes：
Profit guaranteed deposits of RMB 55,000,000.00 (31/12/2016: RMB 220,000,000.00);
Restricted travel agency quality assurance deposits and security account deposits of RMB 1,799,096.52
(31/12/2016: RMB 700,002.43)
L/G deposit RMB 0.00 (31/12/2016: RMB 14,100,000.00).
Page 70
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
2. Accounts receivable
(1) Disclosure of accounts receivable by categories：
Unit: RMB
31/12/2017 31/12/2016
Carrying amount Bad debt provision Carrying amount Bad debt provision
Category Proportio Net Book
Proportion Net Book Value Proportion Proportion
Amount n Amount Amount Amount Value
(%) (%) (%)
(%)
Individually
insignificant
receivables
with bad debt 2,057,984.13 100.00 430,524.06 20.92 1,627,460.07 2,483,476.65 100.00 430,524.06 17.34 2,052,952.59
provision
recognized
individually
Total 2,057,984.13 100.00 430,524.06 20.92 1,627,460.07 2,483,476.65 100.00 430,524.06 17.34 2,052,952.59
(2) There is no movement of bad debts provision for accounts receivable.
3. Other receivables
(1) Disclosure of accounts receivable by categories:
Unit: RMB
31/12/2017 31/12/2016
Book Value Bad debt provision Book Value Bad debt provision
Item Net Book
Ratio Ratio Net Book Value Ratio
Amount Amount Amount Ratio Amount Value
(%) (%)) (%)
Individually
significant
accounts
receivable and bad 1,505,600.00 36.61 - - 1,505,600.00 1,505,600.00 42.48 - - 1,505,600.00
debt provision
recognized
individually
Individually
insignificant
accounts
receivable but bad 2,607,103.35 63.39 2,200.00 0.08 2,604,903.35 2,038,869.09 57.52 2,200.00 0.11 2,036,669.09
debt provision
recognized
individually
Total 4,112,703.35 100.00 2,200.00 0.05 4,110,503.35 3,544,469.09 100.00 2,200.00 0.06 3,542,269.09
(2) There is no movement of bad debts provision for other receivables.
(3) Top five entities with the largest balances of other receivables
Unit: RMB
Relationship
Name Amount Proportion of ne (%)
with group
Beijing Jinjiang International Travel Co.,
Subsidiary 1,505,600.00 36.63
Ltd.
Zhejiang Jinlv International Travel Co.,
Subsidiary 931,772.19 22.67
Ltd.
Company A Customer 266,563.22 6.48
Company B Customer 138,644.30 3.37
Company C Customer 60,763.50 1.48
Total 2,903,343.21 70.63
Page 71
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
4. Long-term equity investments
(1) Category:
Unit: RMB
Category 31/12/2017 31/12/2016
Investment in Subsidiary 63,806,724.14 63,806,724.14
Investment in associates 65,402,885.09 74,341,692.57
Total 129,209,609.23 138,148,416.71
Less: Provision for impairment of long-term
10,615,164.70 10,615,164.70
equity investments
Net Value 118,594,444.53 127,533,252.01
(2) Details of long-term equity investments to subsidiary are as follows:
Unit: RMB
Initial Changes in the Provision Provision Ending
Investee Measurement 31/12/2016 31/12/2017 Accrual
Investment Year Beginning balance Balance
Subsidiary：
Shanghai CITS Co., Ltd Cost method 18,000,000.00 18,000,000.00 - 18,000,000.00 - - -
Shanghai Jinjiang Tourism
Cost method 13,379,802.00 13,379,802.00 - 13,379,802.00 - - -
Co., Ltd.
Shanghai Huating
Overseas Tourism Co., Cost method 11,719,107.73 11,719,107.73 - 11,719,107.73 - - -
Ltd.
Shanghai Guozhilv
International Cargo Cost method 4,500,000.00 4,500,000.00 - 4,500,000.00 - - -
Services Co., Ltd
Zhejiang Jinlv
International Travel Co., Cost method 3,995,919.00 3,995,919.00 - 3,995,919.00 3,995,919.00 - 3,995,919.00
Ltd.
Beijing Jinjiang
International Travel Co., Cost method 2,419,245.70 2,419,245.70 - 2,419,245.70 2,419,245.70 - 2,419,245.70
Ltd.
Shanghai Jinjiang
International Green Cost method 1,400,000.00 4,200,000.00 - 4,200,000.00 4,200,000.00 - 4,200,000.00
Holiday Travel Co., Ltd.
Shanghai Jinjiang
Overseas Affairs Service Cost method 1,340,698.25 908,452.14 - 908,452.14 - - -
Co., Ltd.
Shanghai Travel Agency
Cost method 1,061,700.00 2,927,237.57 - 2,927,237.57 - - -
Co., Ltd.
Shanghai Guozhilv
Property Management Cost method 900,000.00 900,000.00 - 900,000.00 - - -
Co., Ltd
Shanghai CITS
Cost method 600,000.00 600,000.00 - 600,000.00 - - -
Advertising Corporation
Shanghai CITS Tour
Cost method 256,960.00 256,960.00 - 256,960.00 - - -
Guide Service Co., Ltd.
Subtotal 59,573,432.68 63,806,724.14 - 63,806,724.14 10,615,164.70 - 10,615,164.70
(The subsidiaries above are called "the subsidiary" in the following report.)
Page 72
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
4. Long-term equity investments - continued
(3) Details of long-term equity investments to associates are as follows:
Unit: RMB
Changes in the Year
Investee 31/12/2016 Investment 31/12/2017 Provision
Reduction in
Income under
Investment
Equity Method
Associates：
Shanghai Jinjiang Business and Travel Auto
57,037,696.04 6,216,028.90 - 63,253,724.94 -
Service Co.,Ltd.
Shanghai Huangpu River Cruise Co.,Ltd. 12,324,055.62 639,300.49 (12,963,356.11) - -
China Oriental International Travel & - -
268,901.13 4,557.38 273,458.51
Transport Co., Ltd.
Shanghai Waihang International Travel -
3,559,833.10 (2,729,460.37) - 830,372.73
Service Co., Ltd.
Shanghai Oneday Travel Service Co.,Ltd. 120,858.08 (120,858.08) - - -
Shanghai Juxing Property Management - -
1,030,348.60 14,980.31 1,045,328.91
Co.,Ltd.
Total 74,341,692.57 4,024,548.63 (12,963,356.11) 65,402,885.09 -
Note: At March 28, 2017, the Group entered into an equity transfer agreement with Shanghai Jiaoyun Group
Co., Ltd., pursant to which, the Group's 20% equity in Shanghai Huangpu River Cruise Co., Ltd. was
transferred to Shanghai Jiaoyun Group Co., Ltd
5. Fixed assets
Unit: RMB
Machinery,
electronic Transportation
Item Building Decoration Total
equipment and equipment
other
I.Cost
131/12/2016 74,088,771.40 4,530,292.21 9,004,384.21 6,202,441.40 93,825,889.22
2. Additions - Purchase - 22,535.90 905,923.13 - 928,459.03
3.Decrease (22,823,113.17) (279,996.42) (244,130.00) - (23,347,239.59)
(1) Disposal or retirement (788,084.00) (279,996.42) (244,130.00) - (1,312,210.42)
(2) Transfer from
owner-occupied properties to (22,035,029.17) - - - (22,035,029.17)
investment properties
4. 31/12/2017 51,265,658.23 4,272,831.69 9,666,177.34 6,202,441.40 71,407,108.66
II.Accumulated Depreciation
1. 31/12/2016 28,594,591.20 3,284,221.05 4,731,180.15 4,711,344.54 41,321,336.94
2. Additions Accrual 1,350,907.56 542,128.27 995,608.50 1,368,977.29 4,257,621.62
3. Decrease (11,407,165.23) (265,911.60) (231,923.50) - (11,905,000.33)
(1) Disposal or retirement (748,679.80) (265,911.60) (231,923.50) - (1,246,514.90)
(2) Transfer from
owner-occupied properties to (10,658,485.43) - - - (10,658,485.43)
investment properties
4. 31/12/2017 18,538,333.53 3,560,437.72 5,494,865.15 6,080,321.83 33,673,958.23
III.Provision for Impairment Loss
1. 31/12/2016 - - - - -
2. 31/12/2017 - - - - -
IV. Carrying Amount
1. 31/12/2016 45,494,180.20 1,246,071.16 4,273,204.06 1,491,096.86 52,504,552.28
2. 31/12/2017 32,727,324.70 712,393.97 4,171,312.19 122,119.57 37,733,150.43
Page 73
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
6. Other non-current assets
Unit: RMB
Item 31/12/2017 and 31/12/2016
Air-tickets-agent business deposit 1,150,000.00
Others (Note) 856,851.80
Item 2,006,851.80
Note: Others represent deposits placed with Freight Forwarders Associations and deposits placed for
membership of golf course.
7. Operating income and operating costs
(1) Operating income and operating costs
Unit: RMB
2017 2016
Item
Revenue Costs Revenue Costs
Principal business 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
Other business 18,558,525.69 5,246,779.24 15,992,316.39 4,890,729.81
Total 341,190,245.73 318,690,540.70 428,938,697.47 409,294,153.85
(2) Principal business (by industry)
Unit: RMB
2017 2016
Category
Revenue Costs Revenue Costs
Tourism and related business 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
Total 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
(3) Principal business (by region)
Unit: RMB
2017 2016
Category
Revenue Costs Revenue Costs
Mainland China 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
Total 322,631,720.04 313,443,761.46 412,946,381.08 404,403,424.04
(4) Other business
Unit: RMB
2017 2016
Category
Revenue Costs Revenue Costs
Rental revenue 18,558,525.69 5,246,779.24 15,992,316.39 4,890,729.81
Total 18,558,525.69 5,246,779.24 15,992,316.39 4,890,729.81
8. Administrative expense
Unit: RMB
Item 2017 2016
Employee benefits 13,390,604.75 12,273,469.87
Depreciation and amortization 4,348,868.66 4,461,107.33
Energy and supplies expense 1,582,825.51 1,903,215.48
Entertainment Expense 16,099.00 34,015.25
Others 5,005,755.80 5,795,047.02
Total 24,344,153.72 24,466,854.95
Page 74
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
9. Investment income
(1) Details of investment income are as follows:
Unit: RMB
Item 2017 2016
Investment income recognized under cost method - 438,754.52
Investment income recognized under equity method 4,024,548.63 7,375,865.40
Investment income on disposal of long-term equity 2,739,009.89 -
Investment income on holding available-for-sale
27,797,885.24 24,359,796.55
financial assets
Gains on disposal of FVTPL financial assets 632,485.99 -
Gains on disposal of available-for-sale financial assets 76,619,247.24 79,026,886.95
Investment income on entrusted loan 81,367.58 54,723.83
Gains on securities margin trading 39,376.71 -
Total 111,933,921.28 111,256,027.25
(2) Gain on long-term equity investment under cost method:
Unit: RMB
Investee 2017 2016
Shanghai CITS Advertising Corporation - 429,660.39
Shanghai Guozhilv Property Management Co., Ltd. - 9,094.13
Total - 438,754.52
(3) For details of investment income on long-term equity investment under equity method please refer to Note
(VI) 33(2). There is no significant restriction on remittance of the Company’s investment income.
(4) For investment income on holding available-for sale financial assets during this accounting period, please
refer to Note (VI) 33(3)
(5) For investment income on the disposal of available-for-sale financial assets during this accounting period,
please refer to Note (VI) 33(4).
10. Non-operating Income
(1) Details of non-operating income are as follows:
Unit: RMB
Extraordinary gains and
Item 2017 2016
losses in current year
Government grants 1,800,000.00 1,056,956.00 1,800,000.00
Others 35,714.36 735,757.53 35,714.36
Total 1,835,714.36 1,792,713.53 1,835,714.36
(2) Details of government grants are as follows:
Unit: RMB
Related to assets /
Item 2017 2016
Related to income
Financial support funds 1,800,000.00 990,000.00 Related to income
Others - 66,956.00 Related to income
Total 1,800,000.00 1,056,956.00
Page 75
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
11. Notes to items in the cash flow statements
(1) Other cash receipts relating to operating activities:
Unit: RMB
Item 2017 2016
Decrease in L/G deposit 14,100,000.00 -
Cash receipts from interest income 7,205,540.13 1,956,203.79
Cash receipts from government grants 1,800,000.00 1,056,956.00
Others 17,253,984.56 9,535,757.53
Total 40,359,524.69 12,548,917.32
(2) Other cash payments relating to operating activities
Unit: RMB
Item 2017 2016
Cash payments relating to selling and distribution 3,908,718.34 7,899,069.91
expenses/administrative expenses
Cash payments relating to bank charges 768,327.52 992,740.36
Amounts to subsidiaries - 59,000,000.00
L/G deposit deposited - 14,100,000.00
Others 158,322.02 229,900.29
Total 4,835,367.88 82,221,710.56
12. Supplementary information to the cash flow statements
(1) Supplementary information to the cash flow statements
Unit: RMB
Supplementary information 2017 2016
I. Reconciliation of net profit to cash flow from operating activities:
Net profit 88,491,751.56 83,594,330.18
Add:Depreciation of fixed assets and investment property 8,397,583.34 8,601,475.36
Amortization of intangible assets 579,625.09 558,874.95
Amortization of long-term prepaid expenses 715,438.60 685,382.62
Gain (Loss) on disposal of fixed assets, intangible
(175,077.50) (159,422.00)
assets and other long-term assets
Gain (Loss) on retirement of fixed assets 53,489.02 33,096.64
Gain (Loss) arising from change in fair value (10,627.08) -
Financial Expense - (6,605,390.41)
Investment losses (gains) (111,933,921.28) (111,256,027.25)
Decrease (increase)in inventories 9,617.43 11,072.42
Decrease (Increase) in operating receivables 126,597.45 426,762.54
Increase(Decrease) in operating payables (12,901,196.43) (65,008,098.57)
Decrease (increase) in restricted monetary funds 14,100,000.00 (14,100,000.00)
Net cash flow from operating activities (12,546,719.80) (103,217,943.52)
II. Significant investing and financing activities that do not involve
cash receipts and payments:
III. Net changes in cash and cash equivalents:
Closing balance of cash and cash equivalents 135,176,526.83 126,052,975.47
Less: Opening balance of cash and cash equivalents 126,052,975.47 202,954,037.14
Net increase (decrease) in cash and cash equivalents 9,123,551.36 (76,901,061.67)
Page 76
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
12. Supplementary information to the cash flow statements - continued
(2) Cash and cash equivalents
Unit: RMB
Item 31/12/2017 31/12/2016
I．Cash 80,176,526.83 126,052,975.47
Including: Cash on hand 5,148.36 10,681.43
Bank deposits that can be readily withdrawn 79,072,281.95 126,042,294.04
Currency funds that can be readily withdrawn 1,099,096.52 -
II．Cash equivalents 55,000,000.00
III. Closing balance of cash and cash equivalents 135,176,526.83 126,052,975.47
Page 77
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
13. Transactions between the Company and related parties in the year
(1) Receiving or rendering services and sales or purchase of goods
Receiving services:
Unit: RMB
Name of related parties 2017 2016
Transaction type
Amount Amount
The Company's subsidiaries Receiving Tourism and related services 291,749,943.45 370,331,749.41
Jin Jiang International and its subsidiaries Receiving Tourism and related services 12,784,600.91 5,901,063.68
Shendi Group and its subsidiaries Receiving Tourism and related services 7,267,653.00 -
Jinjiang International Hotels and its subsidiaries Receiving Tourism and related services 406,878.49 28,500.00
Associate companies of the Company Receiving Tourism and related services 34,425.10 34,075.00
Subtotal 312,243,500.95 376,295,388.09
Associate companies of the Company Receiving Property Management services 759,751.35 646,031.00
Subtotal 759,751.35 646,031.00
Total 313,003,252.30 376,941,419.09
Rendering services:
Unit: RMB
Name of related parties 2017 2016
Transaction type
Amount Amount
The Company's subsidiaries Providing Tourism and related service 9,414,848.49 16,000,473.57
Jin Jiang International and its subsidiaries Providing Tourism and related service 797,296.20 771,532.92
Jinjiang International Hotels and its subsidiaries Providing Tourism and related service 22,927.93 37,162.17
Associate companies of the Company Providing Tourism and related service 116,378.38 48,241.17
Total 10,351,451.00 16,857,409.83
Page 78
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
13. Transactions between the Group and related parties in the year - continued
(1) Receiving or rendering services - continued
Purchases of goods:
Unit: RMB
2017 2016
Name of related parties Transaction type
Amount Amount
Jinjiang International Hotels and its Purchase of fixed assets 632,493.13 -
subsidiaries
The Company's associates Purchase of fixed assets 29,300.00 -
Total 661,793.13 -
(2) Leasing arrangements
The Group as lessee:
Unit: RMB
Lessee Asset for lease Income recognized in 2017 Income recognized in 2016
Jin Jiang International and its subsidiaries Offices 1,066,260.00 1,066,260.00
The Company's subsidiaries Offices 415,569.54 87,363.41
Total 1,481,829.54 1,153,623.41
The Group as lessor:
Unit: RMB
Lessor Asset for lease Income recognized in 2017 Income recognized in 2016
Jin Jiang International and its subsidiaries Offices 96,033.25 704,323.88
Jinjiang International Hotels and its
subsidiaries
Offices 284,642.93 139,950.11
Total 380,676.18 844,273.99
(3) Borrowing and lending between related parties
Transaction balance in 2016 and balance at 31/12/2017:
Unit: RMB
Name of
Opening Balance Increasing amount Receiving amount Closing Balance Starting Date Expiring Date
Related Parties
Lend to
Shanghai Jinjiang International
2,100,000.00 2,100,000.00 2,100,000.00 2,100,000.00 28/03/2017 27/03/2018
Green Holiday Travel Co., Ltd
Shanghai Jinjiang International - -
700,000.00 700,000.00 13/11/2017 12/11/2018
Green Holiday Travel Co., Ltd
Beijing Jinjiang International
1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 01/04/2017 31/03/2018
Travel Co., Ltd.
Total 3,600,000.00 4,300,000.00 3,600,000.00 4,300,000.00
Interest income from transactions between the Company and its related parties:
Unit: RMB
Item 2017 2016
Interest income from entrusted
81,367.58 54,723.83
loan(Note)
Note: It refers to interest income from entrusted loans to Shanghai Jinjiang International Green Holiday
Travel Co., Ltd.
Page 79
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
XV. NOTES TO ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
13. Transactions between the Group and related parties in the year - continued
(4) Balance due to/from related parties
(a) Accounts Receivable from related parties
Unit: RMB
31/12/2017 31/12/2016
Bad Debt
Items Related Parties Balance Balance Bad Debt
Provision Provision
Accounts
The Company's subsidiaries 2,218,365.00 - 703,319.34 -
receivable
Accounts
Jin Jiang International and its subsidiaries - - 5,524.96 -
receivable
Accounts
The Company’s Associates - - 66,605.70 -
receivable
Accounts
Jinjiang International Hotels and its subsidiaries 123,360.00 - 4,700.00 -
receivable
Subtotal 2,341,725.00 - 780,150.00 -
Other The Company's subsidiaries
3,021,048.19 - 2,584,002.19 -
receivables
Other
The Company’s Associates - - 126,388.28 -
receivables
Other
Jinjiang International Hotels and its subsidiaries - - 42,000.00 -
receivables
Other
Jin Jiang International and its subsidiaries 69,474.88 - 50,000.00 -
receivables
Subtotal 3,090,523.07 - 2,802,390.47 -
Other current The Company's subsidiaries
2,800,000.00 - 2,100,000.00 -
assets
Subtotal 2,800,000.00 - 2,100,000.00 -
(b) Accounts payable from related parties
Unit: RMB
Items Related Parties 31/12/2017 31/12/2016
Accounts payable The Company's subsidiaries - 3,418,205.66
Accounts payable Jin Jiang International and its subsidiaries 85,354.58 1,182,043.42
Accounts payable Associates - 25,200.00
Subtotal 85,354.58 4,625,449.08
The Company's subsidiaries
Other payables 17,057,450.29 17,840,926.71
Other payables Jinjiang International and its subsidiaries - 207,960.00
Other payables Associates 16,445.90 -
Subtotal 17,073,896.19 18,048,886.71
The Company's subsidiaries
Receipts in advance 1,767,450.00 1,290,152.75
Subtotal 1,767,450.00 1,290,152.75
XVI. APPROVAL OF FINANCIAL STATEMENTS
The consolidated and the Company's financial statements were approved by the board of directors and
authorized to issue on 27 March 2018.
Page 80
SHANGHAI JINJIANG INTERNATIONAL TRAVEL COMPANY LIMITED
SUPPLEMENTARY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017
1．Non-recurring gains and losses
The calculation of extraordinary gains and losses has been prepared by Shanghai Jinjiang International
Travel Co., Ltd. in accordance with Information Disclosure Explanatory Pronouncement No. 1 on
Extraordinary Items disclosure (2008) issued by China Securities Regulatory Commission.
Unit: RMB
Item 2017 2016
Profit or loss on disposals or retirement of non-current assets 79,240.71 222,393.39
Government grants recognized in profit and loss for the current year
(except government grants that is highly business related and 4,257,109.41 6,902,884.60
determined based on a fixed scale according to the national unified
standard)
Gains or losses from changes in fair value of held-for-trading financial
assets and liabilities and disposals of financial assets, liabilities and
77,262,360.31 79,026,886.95
available-for-sale financial assets except for effective hedging
transactions related to the Company's normal business
Investment income arising from disposals of long-term equity investment 2,739,009.89 -
Gains from securities margin trading 39,376.71 -
Account receivables reversed which test for impairment individually 99,195.10 1,513,121.69
Non-operating income and expenses other than above items (144,430.63) 435,598.99
Tax effect (21,083,025.68) (22,024,730.74)
Net profit attributable to minority interest (after tax) (8,857.97) (11,757.86)
Total 63,239,977.85 66,064,397.02
2．Return on net assets and earnings per share (“EPS”)
The calculation of return on net assets and EPS has been prepared by Shanghai Jinjiang International
Travel Co., Ltd. in accordance with Information Disclosure and Presentation Rules for Companies
Making Public Offering No. 9 - Calculation and Disclosure of Return on Net Assets and Earnings per
Share (Revised 2010) issued by China Securities Regulatory Commission.
Unit: RMB
Weighted average rate of EPS
Profit for the reporting period
return on net assets (%) Basic Diluted
Net profit attributable to ordinary
5.24 0.4619 N/A
equity holders
Net profit attributable to ordinary
equity holders after non-recurring (0.17) (0.0152) N/A
gains and losses deducted
