深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
深圳中冠纺织印染股份有限公司
Shenzhen Victor Onward Textile Industrial Co., Ltd.
2012年半年度报告
The Semiannual Report 2012
August 14, 2012
1
深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
Important Notes
The board of directors and directors of the Company hereby guarantees that there are no false
records, misleading representation or important omissions in this report and shall assume joint and
several liability for the authenticity, accuracy and completeness of the contents hereof.
Hu Yongfeng, Chairman of the Board of Directors and General Manager, Mr.Zhang Jinliang,Deputy General
Manager and Mr. Ren Changzheng, Manager of Finance Department represent and warrant the financial and
accounting report in the Semi-annual report is true and complete.
The financial report of the semi-annual report has not been audited.
2
深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
Table of contents
I. Brief Introduction of the Company
II. Highlights of Accounting Data and Business Data
III. Change of Share Capital and Shareholding of Principal Shareholders
IV. Information about Directors, Supervisors and Senior Executives
V. Report of the Board of Directors
VI. Important Events
VII. Financial Report (unaudited)
VIII. Documents Available for Inspection
3
深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
I Basic Information of the Company
（1）Company information
Code of A-Stock 000018 Code of B-Stock 200018
Stock A abbreviation ST Victor Onward A Stock B abbreviation ST Victor Onward B
Stock exchange for Shenzhen Stock Exchange
listing
Statutory name of the
深圳中冠纺织印染股份有限公司
Company in Chinese:
Chinese abbreviation 中冠
Statutory name of the
Shenzhen Victor Onward Textile Industrial Co., Ltd
Company in English
English abbreviation VICTOR ONWARD
Legal representative Hu Yongfeng
Registered address
No. 26, Kuipeng Road, Baishigang, Kuiyong Town, Longgang District,
Shenzhen
Zip Code 518119
Office Address:
No. 26, Kuipeng Road, Baishigang, Kuiyong Town, Longgang District,
Shenzhen
Zip Code 518119
Website: http://www.chinaszvo.com
E-mail szvo@chinaszvo.com
（2）Contact person and contact manner
Board secretary Securities affairs Representative
Name Zhang Jinliang Wu Xia
Room 1308, Hualian Building, Room 1308, Hualian Building,
Contact address
No.2008 Shennan Zhong Road, No.2008 Shennan Zhong Road,
Shenzhen Shenzhen
Tel （755）83668425 （755）83667895
Fax （755）83668427 （755）83668427
E-mail zhangjl@udcgroup.com wux@udcgroup.com
（3）Information disclosure and placed
Newspapers selected by the
Securities Times and Hong Kong Commercial Daily
Company for information
disclosure
Internet website designated by
CSRC for publishing the Interim http: // www.cninfo. com. cn
report of the Company
4
深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
Room 1308, Hualian Building, No.2008 Shennan Zhong Road,
The place where the Interim report is
prepared and placed Shenzhen
III. Highlights of financial data and indicators
（1）Highlights of financial data and indicators
Whether retroactive adjusted on previous financial report or not
□ Yes √ No
Main accounting data
Increase/decrease in this
Reporting period
Highlights accounting data Same period of last year report period
（January-June）
year-on-year(%)
Operating Gross income 5,019,787 5,528,810 -9.21%
Operating profit -1,234,684 -8,268,334 -85.07%
Total profit -4,187,136 -8,261,438 -49.32%
Net profit attributable to the shareholders
-4,187,136 -8,232,521 -49.14%
of the listed company
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of -1,245,706 -8,253,558 -84.91%
listed company
Cash flow generated by business operation,
165,989 815,584 -79.65%
net
End of report year At the end of last year Changed over last year（％）
Gross Assets 171,027,553 172,238,794 -0.7%
Shareholders equity attributable to
114,740,763 119,047,096 -3.62%
shareholders of the listed company
Capital stock 169,142,356 169,142,356 0%
2.Main financial indices
Increase/decrease in this
Reporting period
Main financial indices Same period of last year report period
（January-June）
year-on-year(%)
Basic gains per share(RMB/Share) -0.02 -0.05 -60%
Diluted gains per share(RMB/Share) -0.02 -0.05 -60%
Basic earning per share after deducting of
-0.01 -0.05 -80%
non-recurring gains/losses(RMB/Share)
Diluted return on equity （%） -3.65% -6.27% 2.62%
Weighted average return on equity（%） -3.58% -5.93% 2.35%
Diluted return on equity after deducting
-1.09% -6.45% 5.36%
non-recurring gains and losses（%）
Net income on asset, weighted and
-1.07% -6.1% 5.03%
deducted non-recurring gain/loss(%)
Net cash flow per share generated by
0 0 0%
business operation (RMB/Share)
End of report year At the end of last year Changed over last year（％）
Net asset per share attributable to
shareholders of the listed 0.67 0.78 -14.1%
company(RMB/Share)
Assets liabilities ratio(%) 33.71% 31.68% 2.03%
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深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
The information of main accounting data and main financial indices of the company by the end of
report period.(Filling the adjustment explanation if retroactive adjusted)
（II）The differences between domestic and international accounting standards
1．Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed
in the financial reports of differences in net income and net assets.
√Applicable□ Not applicable
Unit：RMB
Net profit attributable to shareholders of the listed Owner equity attributable to shareholders of the
company listed company
Beginning of the report
Current term Same period last year End of the report year
year
Pursuant to Chinese
-4,187,136 -8,232,521 114,740,763 119,047,096
accounting standards
Subitem and total adjusted pursuant to international accounting standards:
Switch back the part of Hong
Kong house property
55,329 57,256 -6,607,922 -6,626,459
assessment in accordance with
IAS
Pursuant to International
-4,131,807 -8,204,182 108,132,841 112,420,637
accounting standards
2. Simultaneously pursuant to both Chinese accounting standards and overseas accounting standards disclosed in
the financial reports of differences in net income and net assets.
□ Applicable√ Not applicable
3. Significant differences between line items
Explanation on IAS and (or)
Items with major differences Amount involved （RMB） Reasons for differences foreign accounting standards
involved
4. The explanation of accounting data from the Statement on differences between the IAS and Domestic
accounting Standard
The influence of appreciation through appraisal of workshop and 2 parking spaces in Hong Kong in 1992.
（III）Items and amount of deducted non-current gains and losses
√Applicable□ Not applicable
Items Amount（RMB） Notes
Gain/loss form disposal of non-current assets 5,174
Tax refund, deduction and exemption that is examined and
approved by authority exceeding or has no official approval
document.
Governmental Subsidy accounted as current gain/loss,
except for those subsidies at with amount or quantity fixed
by the national government and closely related to the
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深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
Companys business operation.
Capital occupation fee collected from non-financial
organizations and accounted as current gain/loss.
Income from the exceeding part between investment cost of
the Company paid for obtaining subsidiaries associates and
joint-ventures and recognizable net assets fair value
attributable to the Company when acquiring the investment.
Non-monetary asset exchange gain/loss.
Gain/loss investment of Commission
Asset impairment provisions for force major such as natural
disasters
Gain/loss from debt reorganization
Enterprise reorganization expenses, such as payment to stuff
placement and consolidation expenses
Gain/loss from trades obviously departed from fair value
Net gain/loss of current term from consolidation of
subsidiaries under common control from beginning of term
to the consolidation date
Gain/loss from debt forcasting without connection to the
main business operation
In addition to normal business with the company effective
hedging related business, holders of tradable financial
assets, transactions and financial liabilities arising from
changes in fair value gains and losses, as well as the 11,022
disposal of trading of financial assets, trading financial
liabilities and available-for-sale financial assets gains return
on investment;
Single impairment test for impairment of receivables
transferred back to preparation
Commissioned external loans by the Gain/loss
The use of fair value measurement model of follow-up to
the fair value of real estate investment gains and losses
arising from changes
According to tax, accounting and other laws, regulations,
the requirements of the current Gain/loss for a one-time
adjustment of the impact of the current Gain/loss;
Entrusted with the operating of the trust to obtain fee
income
Net amount of non-operating income and expense except
-2,957,626
the aforesaid items
Other non-recurring Gains/loss items
Amount of influence of minority interests
Amount of influence of income tax
Total -2,941,430 --
Statement of the Company on “ Other gain/loss items satisfying the definitions of non-recurring gain/loss accounts” and the
non-recurring items defined as recurring items according to the nature and characteristics of the businesses.
Items Amount involved （RMB） Remarks
III. Particulars about the Changes of Share Capital and Shareholders
(1)Particulars about the Changes of Share Capital
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深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
1.Statement of changes in shares
√Applicable□ Not applicable
Before the change Increase/decrease（+，-） After the Change
Amount Proportion Capitalizat
ion of
Share Bonus Proportio
common Other Subtotal Quantity
allotment shares n
reserve
fund
I. Share with conditional
0 0% 0 0 0 0 0 0 0%
subscription
1.State-owned shares 0 0% 0 0 0 0 0 0 0%
2.Staee-owned legal
0 0% 0 0 0 0 0 0 0%
person shares
3.Other domestic shares 0 0% 0 0 0 0 0 0 0%
Of which：Domestic
Non-state –owned legal 0 0% 0 0 0 0 0 0 0%
person shares
Domestic natural person
0 0% 0 0 0 0 0 0 0%
shares
4.Share held by foreign
0 0% 0 0 0 0 0 0 0%
investors
Of which：Foreign legal
0 0% 0 0 0 0 0 0 0%
person shares
Foreign natural person
0 0% 0 0 0 0 0 0 0%
shares
5 .Executive shares 0 0% 0 0 0 0 0 0 0%
II. Shares with 169,142,3 169,142,3
100% 0 0 0 0 0 100%
unconditional subscription 56 56
99,720,45 99,720,45
1.Common shares in RMB 58.96% 0 0 0 0 0 58.96%
3 3
2.Foreign shares in 69,421,90 69,421,90
41.04% 0 0 0 0 0 41.04%
domestic market 3 3
3.Foregin shares in
0 0% 0 0 0 0 0 0 0%
overseas market
4.Other 0 0% 0 0 0 0 0 0 0%
169,142,3 169,142,3
III. Total of capital shares 100% 100%
56 56
Approval of changes in shares(if applicable)
Ownership transfer of changed shares
Influence on latest EPS, net asset per share and other financial index from changes in shares(If applicable)
Other information necessary to be disclosed by the Company or should be disclosed according to requirement of securities regulators.
2.Change in conditional shares
□ Applicable√ Not applicable
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深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
（II）The information of issuing shares
1. The information of issuing shares in the previous three years
□ Applicable√ Not applicable
2. Change of asset and liability structure caused by change of total capital shares and structure
□ Applicable√ Not applicable
3.Current employees shares
□ Applicable√ Not applicable
（III）Shareholders and the substantial controller of the Company
1.Total of shareholders at the end of report term
Number of shareholding accounts at the end of report term was11,139.
2. Particulars about the shareholding of the top ten shareholders
Particulars about the shareholding of the top ten shareholders
Nature of Quantity of Conditional Pledged or frozen
Name of shareholder Proportion (%)
shareholder shares held shares Status Quantity
Public legal
Union Holdings Co., Ltd. 25.51% 43,141,032 0 0
person shares
STYLE-SUCCESS
Foreign shares 14.46% 24,466,029 0 0
LIMITED
Shenzhen Textile State-owned
5.64% 9,243,394 0 0
(Group)Holdings Ltd shares
Rich Crown Investment Co.,
Foreign shares 3.62% 6,114,556 0 0
Ltd.
Union Development Public legal
3.44% 5,821,089 0 0
Group Co., Ltd. person shares
Liuzhou Jiali Real estate Public legal
2.36% 3,999,000 0
Development Co., ltd. person shares
Zeng Ying Other 1.11% 1,876,500 0
Liuzhou Ruiheng Public legal
1% 1,699,800 0
Mechatronics Co., Ltd. person shares
Shing Ying Chieh Other 0.92% 1,550,362 0
Zheng Lian Other 0.54% 916,000 0
Notes
Top 10 holders of unconditional shares
√Applicable□Not applicable
Amount of tradable Type and Quantity
shares with
Full name of shareholder unrestricted conditions
held at the end of Type Quantity
report period
9
深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
Union Holdings Co., Ltd. 43,141,032 A shares 43,141,032
STYLE-SUCCESS LIMITED 24,466,029 B shares 24,466,029
Shenzhen Textile (Group)Holdings Ltd 9,243,394 A shares 9,243,394
Rich Crown Investment Co., Ltd. 6,114,556 B shares 6,114,556
Union Development Group Co., Ltd. 5,821,089 A shares 5,821,089
Liuzhou Jiali Real estate Development Co., ltd. 3,999,000 A shares 3,999,000
Zeng Ying 1,876,500 B shares 1,876,500
Liuzhou Ruiheng Mechatronics Co., Ltd. 1,699,800 A shares 1,699,800
Shing Ying Chieh 1,550,362 B shares 1,550,362
Zheng Lian 916,000 B shares 916,000
Notes to the related relationship between the shareholders or their concerted action
The controlling shareholder of the above-mentioned largest shareholder Shenzhen Union Holdings Ltd.and fourth shareholder Rich
Crown Investment Co., Ltd.. Is Union Development Group Ltd.
3. Introduction to the controlling shareholder and actual controller
（1）The changing information of the controlling shareholder and actual controller
□ Applicable√ Not applicable
（2）The actual introduction to the controlling shareholder and actual controller
Whether exist new actual controller
□ Yes √ No
The Name of the actual controller Union Development Group Co., Ltd.
The classification of actual controller Other
Explanation :
The Company does not have the dominant shareholders and actual controllers and it is not changed
in the reporting period.
(3)The block diagram of the title and control relationship between the Company and actual
controller is as follows:
The property right and controlling relationship between Union Development Group Ltd. and the
Company is as follows:
Hangzhou Jinjiang Group
Co., Ltd.
20.89%
Union Development Group Co.,
Ltd.
31.32% 99.99%
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深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
3.44%
Union Holdings Co., Ltd. Rich Crown Investment Co.,
Ltd.
25.51% 3.62%
Shenzhen Victor Onward Textile Industrial Co., Ltd.
（4）Controlling over the Company by the substantial controller through trust or other asset management
□ Applicable√ Not applicable
4. The other legal person shareholders holding more than 10% shares of the Company.
√Applicable□Not applicable
Legal
Date of
Business scope or management Register capital
representative establishm
Legal person shares
activities （RMB0000）
ent
Production of and
dealing in various
fabrics, garments
chemical fibers and
textile equipment,
domestic commerce,
material supply and
marketing (excluding
monopolized
Union Holdings Co., Ltd. Dong Binggen
September 11, commodities), 112,388.77
1989 management of
self-owned properties,
processing with
imported materials and
designs, internal
introduction and foreign
cooperation, assembling
with imported spare
parts and cooperation in
compensation trade.
November 4,
Style-Success Ltd Miss Amy Wang Investment
1989
Explanation
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深圳市纺织(集团)股份有限公司 2012 年半年度报告全文
（IV）Information of convertible corporate bonds
□ Applicable√ Not applicable
IV. Directors, Supervisors, Senior Executives
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（I）The changes of holding shares of the directors, supervisors and senior executives
The The Remuneratio
Number of Of which:
increased decreased Number of Final n drawn from
Beginning Ending date shares held at the number
number of number of shares held at numbers of Reason for shareholder
Name Position Sex Age date office of office the of restricted
shares on the shares on the the year-end stock options change entities or
term term year-begin stocks held
report period report period (shares） held（Shares） other related
（shares） （Shares）
（Shares） （Shares） parties or not
No
Total -- -- -- -- -- -- --
The directors, supervisors and senior managers did not implement equity incentives.
□Applicable√Not applicable
13
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（II）Representation information
Representation of shareholders
√Applicable□Not applicable
Whether receiving
Term terminated
Name Name of corporate shareholders Position Term start date remuneration or
date
subsidy
Secretary of
Party
committee,
Dong Binggen Union Development Group Co.,Ltd. Board May 18, 2012 May 17, 2015 Yes
chairman
and
President
Board
Dong Binggen Union Development Group Co.,Ltd. June 30, 2010 June 29, 2013 No
chairman
Vice
Ding Yue Union Development Group Co.,Ltd. May 18, 2012 May 17, 2015 Yes
President
Convener
of the
Ding Yue Union Holdings Co., Ltd. June 30,2010 June 29, 2013 No
Supervisory
Committee
Union Development Group Vice
Hu Yongfeng May 18, 2012 May 17, 2015 Yes
Co.,Ltd. President
Vice Board
Hu Yongfeng Union Holdings Co., Ltd. June 30, 2010 June 29, 2013 No
chairman
Vice
Secretary of
Party
committee,
Huang Union Development Group
secretary May 31, 2001 Yes
Xiaoping Co.,Ltd.
of
discipline
committe
e
Huang
Union Holdings Co., Ltd. Director June 30, 2010 June 29, 2013 No
Xiaoping
Deputy
Shenzhen Victor Onward Textile Industrial
Feng Junbin general May 4, 2010 May 3, 2013 Yes
Co., Ltd.
manager
Union Development Group Manager of February 1,
Zhang Mei Yes
Co.,Ltd. Finance 2011
14
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Dept.
Zhang Mei Union Holdings Co., Ltd. Director June 30,2010 June 29, 2013 No
The
explanation of
None
Representation
of shareholders
Representation in other unit
√Applicable□Not applicable
Whether received
Service term Service term
Name Other unit Post occupied remuneration from
from ended
other unit or not
General
Shu Yibo Manqi Investment Development Co., Ltd. July 1, 2002 Yes
Manager
STONEBRIDGE Enterprise Consultant Board January 1,
Jin Ligang Yes
（Beijing）Co., Ltd. chairman 2008
College of Humanities & Sciences of
Shen Songqin President June 1, 2009 Yes
Hangzhou Normal University
Explanation on
job occupation None
in other unit
（III）Information of remuneration about Directors, Supervisors and Senior Executives
The determination Salary Review Committee of the Board of the company propose the appropria
of remuneration of te remuneration standards agreed by the Board by reviewing the directors pers
Directors, onnel work responsibilities, scope of work and its importance.Independent dir
Supervisors and ectors remuneration needs to be approved by Shareholders' General Meeting
Senior Executives.
The rewards
determined basis of Determined by companys business performance before and our related jobs s
directors, alary
supervisors and
senior executives
The actual salary
payment
information of
Payment on monthly basis.
Directors,
Supervisors and
Senior
（IV）Information about changing Directors, Supervisors and Senior Executives
Name Jobs taken Changed Date of change Cause of change
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Wang February 27,
Independent director Resignation Resigned for personal reason
Tianguang 2012
（V）The Employees
Number of employees in position 27
Retired employees on the Companys expense 0
Composition of professions
Categories of professions Number of persons
Production 0
Sales & Marketing 0
Technicians 0
Finance & Accounting 3
Executive 5
Education background
Categories of education Number of persons
Particulars about the employees
The Companys ceased production in 2007，the remaining employees are mainly logistical personnel
V .Report of the Board of Directors
(I) Management discussion and analysis
In the report year, the printing and dyeing mill of the Company in Shenzhen continued
production suspense while the parent company and five subsidiaries continued the suspension
of printing and dyeing business due to the production suspense of the printing and dyeing
mill. The parent company, Nanhua Company and Hong Kong Company maintained daily
operation through property lease. The other three subsidiaries had suspended business. The
Company planned to invest in the joint venture project of Nanjing East Asia Textile Printing
and Dyeing Co., Ltd. with partial machinery and equipment. Due to change of foundation of
joint venture and prospect of the industry, the capital increase was not completed. In the
report year, the income from house rent was the main source of net inflow of cash and the
source of income from main operation. On the whole, the income of the Company exceeded
its expenditure so that its operation was extended. Due to no income from substantial key
business matched with asset scale and no income from investing in enterprises, big operating
loss was unavoidable in the report year.
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Description for above 20%of the company's actual business performance than the profit
forecast disclosed publicly during the reporting period
□ Yes √ No
Major subsidiaries of the company, shares of the company's operations and performance analysis
All the risk factors that maybe have adverse influence on the achievement of future development strategy and business
objective of the company
1.The Status of key business in terms of industry of business.
（1）The Status of key business in terms of industry and product of business.
Unit ：RMB
Change of
Increase/decr Increase/decr Gross profit
On industry Income from Cost of key Gross profit ease of key ease of key rate over the
or production key business business rate（％） business business cost same period
turnover（％） （％） of last year
（％）
In terms of business line
Fabrics
bleaching,
Printing &
dyeing
Lease 501 219 56.29% -9.24% -6.01% -1.5%
In terms of product
Fabrics
bleaching,
0 0
Printing &
dyeing
Lease 501 219 56.29% -9.24% -6.01% -1.5%
The Status of key business in terms of industry and product of business.
Description for the reasons of greater rise or fall range in gross profit rate year-over-year:
（2）Main operation in terms of areas are as follows:
Unit：RMB
Increase/decrease of income
Area Income from key business
（％）
17
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Shenzhen 416 -9.76%
Hong Kong 85 -6.59%
The Status of main operation in terms of areas
Description for the composition of main business
（3）Reasons for the material change of key business and its structure
□Applicable√Not applicable
for the material change of the profitability ( gross profit rate) of the key business
（4）Reasons
compared with the previous year
□Applicable√Not applicable
（5）Analysis of the reasons for the material change of profit structure compared with the
previous year
√Applicable □Not applicable
The operating profit in the report period (RMB-1.23 million) Increased by RMB7.03
million over the same period of the previous year (RMB -826 million). The profit structure
is as follows:
Unit：RMB’0000
Amount of Proportion Amount of same Proportion
Items current to operating period of to operating Main reason for change
period profit % previous year profit %
Profit from main
281 -228.46 319 -38.62% Rental income has decreased .
operation
Operating taxes and
15 -12.20 weight classification
extras
Administrant
435 -353.66 431 -52.18%
expenses
Financial expenses -4 -3.25% 36 -4.36% Influence of Exchange ratio
Income from
42 -34.15% -673 81.48% Influence of market price fluctuation
change in fair value
With the impact of the Operating loss of Zhejiang
Investment income -673 81.48% 678 126.49%
Union Hangzhou Bay Ventures Company
2.Internal controlling system related to accounting of fair value
√Applicable □Not applicable
18
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
For the prevention of investment risk, the improvement and perfection of the high-risk
investment management mechanism of the company and the guarantee of the companys
assets safety, the company has approved the “Special Management System on Shenzhen
Victor Onward Textile Industrial Co., Ltd. Engaged in High-Risk Investment”.
Items related to measurement of fair value
Unit：RMB
Amount at the Gains and losses Accumulative Provision for Amount at the end of
beginning of period from change of fair change of fair value impairment made in period
Items
value in current accounted for as current period
period rights and interests
Financial assets
Of which ： 1.
Financial assets
calculated according
to fair value whose
68,900 -13,510 55,390
change is accounted
for as profits or
losses for current
period
Including: Derived
financial asset
2. Trading financial
703,055 -77,031 626,024
assets
Subtotal of financial
771,955 -13,510 -77,031 681,414
assets
Financial liabilities
Property investment
Production physical
assets
Other
Total
Is there any major difference between the evaluation results when evaluation techniques were adopted on similar items in
two years please state the details if there is.
□ Yes □ No
3.Holding of financial assets and liabilities in foreign currency
√Applicable □Not applicable
Unit：RMB
Item Amount at the Gains and losses Accumulative Provision for Amount at the end of
19
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
beginning of period from change of fair change of fair value impairment made in period
value in current accounted for as current period
period rights and interests
Financial assets
Of which ： 1.
Financial assets
calculated according
to fair value whose
change is accounted
for as profits or
losses for current
period
Including: Derived
financial asset
2.Loan and account
receivable
3. Trading
703,055 -77,031 626,024
financial assets
4.Expired
investment in
possess
Subtotal of financial
703,055 -77,031 626,024
assets
Financial liabilities
（II）Investment of Company
1.The Company raised funds in the report period.
□Applicable√Not applicable
2.Commitments on projects of raised funds
□Applicable√Not applicable
20
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
3.Changes of projects of raised funds
□ Applicable√ Not applicable
4.Investment on major projects of non-raised funds
□ Applicable√ Not applicable
（III）Revising of business plan of the second half of year by the Board
□ Applicable√ Not applicable
（IV）Prediction of Business performance for Jan-Sept 2012.
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be
loss probably or the warning of its material change compared with the corresponding period of the last
year and explanation of reason.
√Applicable □Not applicable
Forenotice of earnings :Losses
Type of data filled for the prediction
□ actual figures √ interval figures
Same period of
Year beginning to end of next
the previous Increase or decrease%
report period
year
Estimated amount of
□ -- □Increase□
accumulative net -700 -- -500 -1,226 -59.22% -- -42.9%
Decrease
profit(RMB0000)
Basic earnings per shares □ -- □Increase □
-0.04 -- -0.03 -0.07 -57.14% -- -42.86%
(Yuan/share) Decrease
Due to loss of real estate projects of Zhejiang Union Hangzhou Bay Ventures Co., Lt
d. accounted for on equity basis, the accumulative net profit for the period from Janua
Notes to forenotice of
ry 2012 to September 2012 is estimated to be loss and about RMB-7 million to RMB-
earnings
5 million.
（V）The managements remarks on the “non-standard opinions” by the auditors for the
report period
√Applicable □Not applicable
Notes to the unqualified auditor's report with paragraph of emphasized matters issued by
21
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Shine Wing Certified Public Accountants for the Company's financial report for 2011
(I) Basic information about the matters involved in non-standard unqualified audit opinions:
Shine Wing Certified Public Accountants issued unqualified auditor's report with paragraph of emphasized matters for
the Company's financial statements for 2011 Basic information of emphasized matters: Since March 2007, Shenzhen Victor
Onward Textile Industrial Co., Ltd. stopped production and dismissed most of workers. And most subsidiaries of the
company had stopped production and it maintained daily operation by house leasing. Shenzhen Victor Onward Textile
Industrial Co., Ltd. had disclosed its improvement measures in Note 13 of Financial Statement, but its sustainable operation
ability is still uncertain. This paragraph does not affect audit opinions that have been given.
(II) Basic opinions of certified public accountants on such matter:
Shine Wing Certified Public Accountants accepted entrustment, completed the audit of the financial statements of the
Company for 2011 and issued unqualified auditor's report with paragraph of emphasized matters for the Company's financial
statements for 2011. In accordance with No. 14 Rule for Preparation and Report of Information Disclosure by Companies
Publicly Issuing Securities - Non-standard Unqualified Audit Opinions and Treatment of Matters Involved Therein, relevant
notes are as follows:
As noticed by Shine Wing Certified Public Accountants during audit, Since March 2007,
Shenzhen Victor Onward Textile Industrial Co., Ltd. stopped production and dismissed most
of workers. The company currently only had house leasing business.
Except that Shenzhen East Asia Victor Onward Textile Printing and Dyeing Co., Ltd. is still
operating normally, other 5 subsidiaries controlled by the Company have stopped operation
or are maintaining daily operation by house property lease. It plans to invest in Nanjing East
Asia Textile Printing and Dyeing Co., Ltd. with part of machinery and equipment in 2007,
Due to the reason on the side of the other party of joint venture and change of industry
prospect. we believe that the sustainable operation ability of Shenzhen Victor Onward
Textile Industrial Co., Ltd. is still uncertain, so I emphasized the situation in the audit reports
and issued unqualified auditor's report with paragraph of emphasized matters. The matters
involved in highlighted statement did not apparently violate Accounting Standards for
Business Enterprises and regulations on relevant information disclosure standardization.
This special statement is issued by us according to relevant regulations of CSRC and shall not be used for other purpose.
We and the C.P.A. who performed this service shall not bear any liability for the consequences caused by its improper use.
(VI)Themanagements remarks on any changes in and results of issues related to the “non
opinions” by the auditors for the previous year.
√Applicable □Not applicable
The opinions of the board of directors, supervisory committee and management of the
Company on this matter:
22
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
The board of directors, Supervisory Committee and managers believed that the printing
and dyeing plant of the company had stopped operation or maintained daily operation by
house leasing. .It plans to invest in Nanjing East Asia Textile Printing and Dyeing Co., Ltd.
with part of machinery and equipment, Due to the reason on the side of the other party of joint venture and
change of industry prospect.
(I) Extent of influence of this matter on the Company:
This event greatly impacted the production & operation activities and sustainable
development of company, it made company had the situation of implementing other special
treatment which was stipulated in Shenzhen Stock Exchange Listing Rules , the stock of our
company had been implemented for other special treatment.
(II) The possibility of eliminating this matter and its influence:
Though the transfer of printing and dyeing business has been somewhat delayed,The board of
directors of company is positively studying the future development of company to enhance
company's sustainable operating ability.
(III) The concrete measures of eliminating this matter and its influence
The Company is communicating with joint venture partner and trying to minimize the
losses and settle this joint venture project issue properly.
（VII）Results of discussion by the Board on the causation and impact of change in
accounting policies and estimations or correction of material accounting errors..
□ Applicable√ Not applicable
（VIII）Establishment and Implementation of Cash Dividend Policy of the Company
In order to perfect and improve the scientific, sustained and stable dividend decision and
monitor mechanism of the company, and protect the legitimate rights and interests of
investors, the 4th Meeting of the Sixth Board of Directors of the Company held on August 14,
2012 has formulated the amendment scheme on profit distribution policy of the Articles of
Association, and clarified the ways of profits distribution, the specific conditions and
proportion of dividends distribution, the purpose of undistributed profits and other specific
policies, then should submit to 2012 First provisional Shareholders General Meeting held in
August 2012 for approval according to the direction spirit of "Notice on Further
Implementation of the Issues related to the Cash Dividends of Listed Companies" of The
23
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
China Securities Regulatory Commission (CSRC) and “Notice on Earnest Execution of the
Requirements Related to the Notice on Further Implementation of the Issues related to the
Cash Dividends of Listed Companies” of Documents [2012]43 issued by Shenzhen
Securities Regulatory Bureau. 2. The Board of Directors of the company study out the
preplan of profits distribution every year which is in line with the provisions of the Articles of
Association, and the independent directors voice their opinions, then the preplan is conducted
the disclosure by the designated media, which should be implemented after examined and
passed by the shareholders general meeting of the company. After the new amendments on
the profit policy within the “Articles of Association”, the Board of Directors of the company
shall make a communication with the minority shareholders and fully hear their comments
and suggestions through telephone, fax, letter and e-mail in the process of the
decision-making and the demonstration on the profit distribution scheme. The Company net
profit is RMB-17,361,593,the total year-end undistributed profit is - RMB -116,026,610. The Company is
neither to distribute profit nor to capitalize capital surplus for the current year. There not exists the situation that
the accumulatively distributed profits at the end of 2011 is not conducted the cash dividend.
The Profit distribution policy of the company and the next three-year shareholder return plan
and amendment of the articles of the company will be all published in Securities Times and
Hong Kong Commercial Daily and www.cninfo.com.cn. on August 16，2012
（IX）Profit distribution or capitalizing of common reserves
□ Applicable√ Not applicable
(X)Situation Of positive retained profit at end of 2011 but no cash dividend was proposed
□ Applicable√ Not applicable
（XI）Establishment and Implementation of the Registration and Management System on
Learners of Insider Information
For the standardization of the Registration and Management System on Learners of Insider
Information of Listed Company, the company has held the special meeting of the Sixth Board
of Directors and made full revision on “Management System on Learners of Inside
Information” on June 28, 2012 in accordance with the requirements of the “Provisions on
Listed Company Formulating Management System on Learners of Insider Information” and
combined with the actual situation of the company. Thus, the company has further clarified
the use scope, the data filing procedures and the responsibility claim of the non-public
information.
24
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
In the Report period, According to the requirements of the “Registration and Management
System on Learners of Insider Information”, the company has well performed the
management and the safe delivery of all the information, and completely put into and
recorded the report, the transmission, the preparation, the review and the disclosure of all the
learner lists of insider information before the public disclosure of the insider information.
In the Report period, The company has not found the situation that the relevant personnel is
engaged in the insider transaction by using the insider information and suggest others to
conduct the transaction with the insider information, there is no the situation that the insider
information is disclosed, and not exists the situation that the company shall be taken a
crackdown and ordered for rectification by the regulatory department because of the
implementation of the Registration System on Learners of Insider Information or the
suspicion of insider transaction.
Whether implemented self-examination and accountability on insiders who dealing with stock of the Company as well as
derivative products
□ Yes √ No
Whether custody measurement and administration punishment on listed company and related staff from regulatory
authorities in aspect of implementation of registration management mechanism of insiders or inside trading involved or not.
□ Yes √ No
（XII）Other Disclosures
（XIII）Liabilities, credit changes and cash arrangement for debt paying in later year(only
applies to listed company with corporate convertible bonds offered)
□ Applicable√ Not applicable
VII. Important Events
1.Governance of the Company
In the report period, The company has strictly abided by the “Corporate Law”,
“Securities Law”, “Governance Rules of Listed Companies”, “Articles of Association” and
the provisions and requirements of The China Securities Regulatory Commission (CSRC)
and The Shenzhen Stock Exchange (SZSE) to continuously improve the corporate
governance structure, establish the modern enterprise system, standardize the company
operations and seriously and well perform all the works of corporate governance. At the
beginning of 2011, the company has set up the work plan and program on the implementation
of internal control norms in order to further strengthen the construction work of the
companys internal control norms system according to the relevant specifications of
“Foundational Norms on Internal Control of Enterprise” and “Supporting Instructions to
Internal Control of Enterprise”. Currently, the company is carrying out the relevant specific
works as per all the stage of work plans of the internal control construction.
25
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
In the report period, The company has formulated the “Compilation of Internal Control
Document on Shenzhen victor Onward Textile Industrial Co., Ltd.” after the examination and
approval of the special meeting of the 4th Meeting of the Sixth Board of Directors and
Supervisory Board has adopted and passed the “Self-Evaluation Report of Internal Control on
Shenzhen Textile Holdings Co., Ltd.” on August 14, 2012. Also, the company has strictly
implemented the relevant system of internal control, promoted the standardized operations
and healthy development and protected the legitimate rights and interests of investors. So,
there is no difference between the overall corporate governance situations and the
requirements of The China Securities Regulatory Commission (CSRC). With the
development of the company, the status of standard operation and the level of internal control
of the company shall be continuously improved. For the specific details of the
“Self-Evaluation Report of Internal Control on Shenzhen Textile Holdings Co., Ltd.”, please
refer to the contents published on:www.cninfo.com) on August 16, 2012.
（II）Dividend plans, reserve capitalizing plans, or share issuing plans proposed in previous
period and implemented in the current period.
□ Applicable√ Not applicable
26
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（III）Material lawsuits
√ Applicable □Not applicable
Date of Serial number of
Joint liability Profile of the Amount claimant Progress of the Results and Progress of
The claimer The defendant Type of claim information the
party claim RMB0000 lawsuit influence execution
disclosure announcement
Nanjing East
Asia Textile
Printing &
dyeing Co.,
Shenzhen Ltd., Requests for
victor Nanjing East termination
of the contra The case
Onward Asia
ct, agreemen
4,792 hasnt yet June 16, 2012 2012-0614
Textile Investment
t been tried
Industrial Developmen
Co., Ltd t Group Co.,
Ltd.,
Hongkong
Yaojunxing
Co., Ltd.
Material lawsuit or arbitration issues occurred after the last annual report were amounted to RMB 0.
Material lawsuit or arbitration issues presented in the last annual report but was not settled were amounted to RMB 33.5877million.
Provisions provided for the liabilities formed by the lawsuit was RMB0.
Description of the material lawsuit or arbitration issues
27
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
On June 4, 2012, The company has instituted court action against below three companies at Jiangsu Province Higher People's Court, and asked to
terminate the contracts and agreements signed with Nanjing East Asia Textile Printing & Dyeing Co., Ltd., Nanjing East Asia Investment &
Development Group Co., Ltd. and Hong Kong Yaojunxing Co., Ltd., who shall pay RMB47,922,902.92 to the company for the pecuniary loss of
implicative compensation and undertake the costs of litigation. The company has received the Su-Shang-Wai-Chu-Zi No.0002 (2012) of “Notice on
Indictment Acceptance and Collegial Panel Announcement” issued by Jiangsu Province Higher People's Court on June 14, 2012.
The case hasnt yet been tried, so the impact on the company temporarily cant be judged. The company will fulfill the obligation of information
disclosure in time according to the progress of legal action.
The announcement of the resolutions of this meeting was published on Securities Times , Hong Kong Commercial Daily and www.cninfo.com.cn on
June 16, 2012.
28
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
29
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
30
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（IV）Bankruptcy or capital reorganizing
□ Applicable√ Not applicable
（V）Holding other PLC’S shares or participating of financial entities
1. Securities investment
√ Applicable □Not applicable
Number o
Initial Profits or
f shares at Book value at
Stock investment Proportion losses in the
Line Stock Variety Stock code end of pe period-end
abbreviation amount （%） report
riod(share （RMB）
（RMB） period(RMB)
s)
1 Stock 601558 Winovel Wind 31,000 4,000 28,440 51.35% -2,560
2 Stock 002563 Semir Garment 37,900 1,000 26,950 48.65% -10,950
Other securities investment held at the end of the period --
Gain and loss from investment in securities already sold
-- -- -- -- 11,022
in the report period
Total 68,900 -- 55,390 100% -2,488
Disclosure Date of Announcement on
Securities Investment Approved by the
Board of Directors
Disclosure Date of Announcement on
Securities Investment Approved by the
Shareholders Meeting
Statement on securities investment
2. Holding of other PLC’S shares
√ Applicable □Not applicable
Changes of
Initial Profits or Subject of
Stock Proportion of Book value at owners Resource of
Stock code investment losses in the accounting
abbreviation shareholding period-end equity in the share
amount report period calculation
report period
Financial
Union
assets
467 Energy 703,055 0% 626,024 0 -77,031 Buy
available for
Group
sale
31
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total 703,055 -- 626,024 0 -77,031 -- --
Statement on holding of other PLCs shares.
3.Shareholding in non-listed financial entities
□ Applicable√ Not applicable
Statement on shareholding in non-listed financial entities
4.Trading of other PLC’S shares
√ Applicable □Not applicable
Number of shar Buy/sell shares
es at beginning in the report pe Number of shar Used the amou
Generated
Name
of period riod es at end of peri nt of Capital investment returns
od(shares) （RMB） （RMB）
（shares）
Boya Overview 0 500 0 375,000 8,755
Beijing WKW 0 500 0 240,000 567
The total investment income made during the reporting period of the new shares is RMB 9,322.
Statement on trading of other PLCs shares.
（VI）Asset trade
1. Acquisition or swap in of assets
□ Applicable√ Not applicable
Statement on acquisition of assets.
2. Disposal or swap out of assets
□ Applicable√ Not applicable
Statement on disposal of assets.
32
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
3.Asset exchange
□ Applicable√ Not applicable
Statement on asset exchange.
4.Merger of entities
□ Applicable√ Not applicable
5. The progress of the event after the publishing of asset reorganization report or announcement of
acquisition or disposal of assets and its influence on the operating results and financial status for the
report period.
□ Applicable√ Not applicable
（ VII ） Statement on share increasing proposal raised by the holding shareholder or its
action-in-concert parties in the report period
□ Applicable√ Not applicable
（VIII）Implementation and influences of share equity incentive program
□ Applicable√ Not applicable
（IX）Important Related transactions
33
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
1.Related transactions related to daily operation
□ Applicable√ Not applicable
2.Related transactions related to asset purchasing or disposal
□ Applicable√ Not applicable
3.Material related transactions related to collaborated external investment
□ Applicable√ Not applicable
4. Credits/Debts with Related Parties
□ Applicable√ Not applicable
Capital appropriation and progress of clearing in report period
□ Applicable√ Not applicable
The penalty plan proposed by board if the clearing of non-operational capital appropriation is not completed till the end of report period.
□ Applicable√ Not applicable
34
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
5. Other Important Related transactions
Related party Amount of period-end Amount of period-begin
Account receivable
Shenye Union(Hong Kong) 299,354 299,354
Other receivable
Union Group 23,359,193 23,159,803
Union Property 666,223 700,734
（X）Important contracts and their performance
1.Trusteeship , contract, or leasing issues which contributes 10% or over of total profit of the period
（1）Trusteeship
□ Applicable√ Not applicable
（2）Contracts
□ Applicable√ Not applicable
（3）Leasing
□ Applicable√ Not applicable
2.Guarantees
□ Applicable√ Not applicable
3.Entrusted capital management
□ Applicable√ Not applicable
4.Performing of material contracts
5.Other material contracts
√Applicable □ Not applicable
The investment contract and the related financial expenses signed havent been executed or
fully performed.As of June 30, 2012, Group has signed a contract but there are still outstanding
major agreement total foreign investment RMB 30 million .Specific conditions are as follows:
Name Investment Payable Non-payable Investment Notes
35
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
amount amount of amount of Period
investmen investment
t
Investment in Not because of the
machinery and other production
equipment in Nanjing 30 million - 30 million Uncertain sites can not be
East Asia Textiles Co., completed
ltd. relocation
2.The Signed or is ready to carry out the contract of large contracts
As of December 31, 2010,The Group still has signed the agreement but did not pay large amounts
of letting contracts total RMB 1.71 million. Specific conditions are as follows:
2.The Signed or is ready to carry out the contract of large contracts
As of June 30, 2012,The Group still has signed the agreement but did not pay large amounts of
letting contracts total RMB 1.71 million. Specific conditions are as follows:
Name Investment Payable Non-payabl Investment Notes
amount amount of e amount of Period
investment investment
The allocation 1,710,000 855,000 855,000 Uncertain Not because of the
other production
of production
sites can not be
equipment as a
completed relocation
whole works
2.In addition to these commitments ，as of June 30, 2012,The Group has no other significant
commitments.
（XI）Statement on issuing of company bonds
□ Applicable√ Not applicable
(XII)Fulfilling of commitments
1.Commitment made by the PLC, Its directors, supervisors, executives, and shareholders with 5% over shares of
the Company , and its substantial dominator in the report term or carried over to the report term :
□ Applicable√ Not applicable
36
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
2..Statement on the situation of predicted profit on assets or projects, and actual results of the same .
□ Applicable√ Not applicable
（XIII）Other misc. income subjects
Unit：RMB
Items Occurred current term Occurred in previous term
1．Gains(losses)from sellable financial assets -80,951 -215,997
Less：Income tax influence of sellable financial assets
Net amount written into other gains and transferred into gain/loss in
previous terms
Subtotal -80,951 -215,997
2．Shares in the other misc. income subjects in the investee on equity
basis
Less：income tax influence of shares in other gains of investees on
equity basis
Net amount written into other gains and transferred into gain/loss in
previous terms
Subtotal 0 0
3．Amount of gains(or losses) from cash flow hedge instrument
Less: Income tax influence of cash flow hedge instruments
Net amount written into other gains and transferred into gain/loss in
previous terms
Adjusted amount transferred to initial amount of the target project
Subtotal 0 0
4．Difference from translating of foreign currency financial statements -38,246 -3,172,304
Less: Net amount of disposing overseas Business and transferred to
current gain/loss
Subtotal -38,246 -3,172,304
5．Other
Less：Income tax influence by other accounted into other misc. incomes
Net amount accounted into other misc. income and transferred into
current gain/loss in previous terms
Subtotal 0 0
Total -119,197 -3,388,301
37
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（XIV）The registration form of acceptance of investigation, communication and interview in the report period
for future reference
Content of discussion and
Date Place Mode Type Visitor
materials provided
Inquiry about the
Director &
May 3, 2012 Telephone Individual Investor condition of the
Secretary office
Company's key business
Inquiry about the
Director &
May 16, 2012 Telephone Individual Investor possibility of the
Secretary office
Company's delisting
（XV）Engagement and removal of certified public accountants
If the Semi-annual Report is audited
□ Yes √ No
（XVI）Punishment on the Company and/or the directors, supervisors, executives, shareholders,
substantial controller, and purchasers, and correcting of misbehaviors
□ Applicable√ Not applicable
（XVII）Other Material events
□ Applicable√ Not applicable
（XVIII）Material change in profit ability, asset, and credit situation of the guarantor of the
convertible bonds
（Only applies to listed company with corporate convertible bonds offered）
□ Applicable√ Not applicable
（XIX）Index for information disclosed
Name and layout of Website for publishing and searching
Matter Date of publishing
newspapers for publishing path
Announcement on abnormal Securities Times and
fluctuation of trading price of Hong Kong February 16, 2012 （http://www.cninfo.com.cn）
stocks
Commercial Daily.
The announcement on the Securities Times and
resignation of Mr. Wang Hong Kong February 29, 2012 （http://www.cninfo.com.cn）
Tianguang, an independent Commercial Daily.
38
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
director of the Company
Announcement on abnormal Securities Times and
fluctuation of trading price of Hong Kong February 29, 2012 （http://www.cninfo.com.cn）
stocks Commercial Daily.
Securities Times and
2011 annual report of the
Hong Kong April 24, 2012 （http://www.cninfo.com.cn）
Company and its summary
Commercial Daily.
Announcement of the Securities Times and
resolutions of 3rd Meeting of Hong Kong April 24, 2012 （http://www.cninfo.com.cn）
the Fifth Board of Directors Commercial Daily.
Notice of Holding 2011 Securities Times and
annual shareholders Hong Kong April 24, 2012 （http://www.cninfo.com.cn）
General Meeting Commercial Daily.
Announcement of the 3rd Securities Times and
Meeting of Fifth Supervisor Hong Kong April 24, 2012 （http://www.cninfo.com.cn）
Committee Commercial Daily.
Securities Times and
The first Quarterly Report 2012 Hong Kong April 24, 2012 （http://www.cninfo.com.cn）
Commercial Daily.
Announcement on abnormal Securities Times and
fluctuation of trading price of Hong Kong May 4, 2012 （http://www.cninfo.com.cn）
stocks Commercial Daily.
Announcement of Resolutions Securities Times and
of 2011 annual shareholders Hong Kong May 16, 2012 （http://www.cninfo.com.cn）
General Meeting Commercial Daily.
Securities Times and
Announcement on lawsuits. Hong Kong June 16,2012 （http://www.cninfo.com.cn）
Commercial Daily.
XII. Financial Report
1 Auditor's report
If the interim report is audited
□ Yes v No
2.Financial statements
Consolidated or not：
√Yes □ No
All figures in the financial statements are in RMB yuan except fro otherwise stated.
All figures in the Notes to the financial statements are in RMB yuan.
39
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
1. Consolidated Balance sheet
Prepared by：Shenzhen Victor Onward Textile Industrial Co., Ltd.
Unit：RMB
Items Notes Year-end balance Year-beginning balance
Current asset：
Monetary fund 53,666,428 53,399,316
Settlement provision
Outgoing call loan
Trading financial assets 55,390 68,900
Bill receivable
Account receivable 744,712 744,712
Prepayments 19,693 27,548
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable 0 38,378
Dividend receivable
Other account receivable 114,831 457,264
Repurchasing of financial
assets
Inventories 162,457 162,457
Non-current asset due in 1
0 0
year
Other current asset 0 0
Total of current assets 54,763,511 54,898,575
Non-current assets：
Loans and payment on
others behalf disbursed
Disposable financial asset 626,024 703,055
Expired investment in
0 0
possess
Long-term receivable 0 0
Long term share equity 63,758,611 63,192,614
40
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
investment
Property investment 32,850,966 34,373,451
Fixed assets 12,047,900 12,070,406
Construction in progress 0 0
Engineering material 0 0
Fixed asset disposal 0 0
Production physical assets 0 0
Gas & petrol 0 0
Intangible assets 1,880,917 1,901,069
R & D petrol 0 0
Goodwill 5,099,624 5,099,624
Long-germ expenses to be
0 0
amortized
Differed income tax asset 0 0
Other non-current asset 0 0
Total of non-current assets 116,264,042 117,340,219
Total of assets 171,027,553 172,238,794
Current liabilities
Short-term loans 0 0
Loan from Central Bank
Deposit received and hold for
others
Call loan received
Trade off financial liabilities 0 0
Bill payable 0 0
Account payable 3,246,981 3,239,221
Advance payment 2,775,748 2,775,476
Selling of repurchased
financial assets
Fees and commissions
receivable
Employees wage payable 620,078 590,220
Tax payable 2,872,905 2,700,348
Interest payable 0 0
Dividend payable 1,215,946 1,215,946
41
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Other account payable 31,391,552 31,167,220
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1
0 0
year
Other current liability 4,250,323 1,584,784
Total of current liability 46,373,533 43,273,215
Non-current liabilities：
Long-term loan 1,102,961 1,160,011
Bond payable 0 0
Long-term payable 8,534,177 8,486,859
Special payable 0 0
Expected liabilities 0 0
Differed income tax liability 812,841 808,335
Other non-current liabilities 836,792 836,792
Differed income 11,286,771 11,291,997
Total of liability 57,660,304 54,565,212
Owners equity
Share capital 169,142,356 169,142,356
Capital reserves 39,661,522 39,742,473
Less：Shares in stock
Special reserves
Surplus reserves 26,704,791 26,704,791
Common risk provision
Undistributed profit -120,213,746 -116,026,610
Different of foreign currency
-554,160 -515,914
translation
Total of owners equity belong to
114,740,763 119,047,096
the parent company
Minority shareholders equity -1,373,514 -1,373,514
Total of owners equity 113,367,249 117,673,582
Total of liabilities and owners
171,027,553 172,238,794
equity
42
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Legal representative ：Hu Yongfeng
Person-in-charge of the accounting work：Zhang Jinliang
Person-in -charge of the accounting organ：Ren Changzheng
2. Balance sheet of the Parent Company
Unit：RMB
Items Notes Year-end balance Year-beginning balance
Current asset：
Monetary fund 19,654,909 21,483,163
Trading financial assets 55,390 68,900
Bill receivable
Account receivable
Prepayments
Interest receivable
Dividend receivable
Other account receivable 72,767,761 72,999,033
Inventories 162,457 162,457
Non-current asset due in 1
year
Other current asset
Total of current assets 92,640,517 94,713,553
Non-current assets：
Disposable financial asset
Expired investment in
possess
Long-term receivable
Long term share equity
36,788,953 36,788,953
investment
Property investment 5,229,335 5,397,921
Fixed assets 9,145,661 9,170,487
Construction in progress
Engineering material
Fixed asset disposal
43
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Production physical assets
Gas & petrol
Intangible assets 1,880,917 1,901,069
R & D petrol
Goodwill
Long-germ expenses to be
amortized
Differed income tax asset
Other non-current asset
Total of non-current assets 53,044,866 53,258,430
Total of assets 145,685,383 147,971,983
Current liabilities
Short-term loans
Trade off financial liabilities
Bill payable
Account payable 113,337 113,337
Advance payment 1,999,540 1,999,540
Employees wage payable 589,368 559,510
Tax payable 1,625,298 1,617,284
Interest payable
Dividend payable
Other account payable 636,044 855,475
Non-current liability due in 1
year
Other current liability 4,184,249 1,544,249
Total of current liability 9,147,836 6,689,395
Non-current liabilities：
Long-term loan
Bond payable
Long-term payable
Special payable
Expected liabilities
Differed income tax liability 4,180,138 4,180,138
Other non-current liabilities 836,792 836,792
Total of Non-current liabilities 5,016,930 5,016,930
44
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total of liability 14,164,766 11,706,325
Owners equity
Share capital 169,142,356 169,142,356
Capital reserves 31,606,598 31,606,598
Less：Shares in stock
Special reserves
Surplus reserves 26,309,287 26,309,287
Undistributed profit -95,537,624 -90,792,583
Different of foreign currency
translation
Total of owners equity 131,520,617 136,265,658
Total of liabilities and owners
145,685,383 147,971,983
equity
3. Consolidated Profit statement
Unit：RMB
Items Notes Report period Same period of the previous year
I. Income from the key business 5,019,787 5,528,810
Incl：Business income 5,019,787 5,528,810
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 6,669,607 7,013,815
Incl：Business cost 2,199,834 2,331,440
Interest expense
Fee and commission paid
Insurance discharge
payment
Net claim amount paid
Insurance policy dividend paid
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 158,799 0
Sales expense
Administrative expense 4,358,499 4,316,273
45
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Financial expenses -47,525 366,102
Asset impairment loss 0 0
Add：Gains from change of
-13,510 -48,602
fir value （“-”for loss）
Investment gain（“-”for loss） 428,646 -6,734,727
Incl: investment gains from
affiliates
Gains from currency
exchange（“-”for loss）
III. Operational profit（“-”for
-1,234,684 -8,268,334
loss
Add：Non-business income 29,563 8,413
Less：Non business expenses 2,982,015 1,517
Incl：Loss from disposal of
529
non-current assets
IV.Total profit(“-”for loss) -4,187,136 -8,261,438
Less：Income tax expenses 0 0
V. Net profit（“-”for net loss -4,187,136 -8,261,438
Including: Net profit realized by
the entity taken over before the
takeover
Net profit attributable to the
-4,187,136 -8,232,521
owners of parent company
Minority shareholders
0 -28,917
equity
VI. Earnings per share： -- --
（I）Basic earnings per share -0.02 -0.05
(II)Diluted earnings per share -0.02 -0.05
VII. Other comprehensive income -119,197 -3,388,301
VIII. Total comprehensive income -4,306,333 -11,649,739
Total comprehensive income
attributable to the owner of the -4,306,333 -11,649,739
parent company
Total comprehensive income
attributable minority shareholders
Enterprise combination under same controlling at the end of current period. the net profit for the
enterprise to be combined is 0.00.
46
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Legal representative ：Hu Yongfeng
Person-in-charge of the accounting work：Zhang Jinliang
Person-in -charge of the accounting organ：Ren Changzheng
4. Profit statement of the Parent Company
Unit：RMB
Items Notes Report period Same period of the previous year
I. Income from the key business 741,567 725,313
Incl：Business cost 239,378 239,549
Business tax and surcharge
Sales expense
Administrative expense 2,901,344 2,702,203
Financial expenses -633,433 -1,289,755
Asset impairment loss
Add：Gains from change of
-13,510 -48,602
fir value （“-”for loss）
Investment gain（“-”for loss） 11,022 14,141
Incl: investment gains from
affiliates
II. Operational profit（“-”for
-1,768,200 -961,145
loss
Add：Non-business income 5,174
Less：Non business expenses 2,982,015 529
Incl：Loss from disposal of
non-current assets
III.Total profit(“-”for loss) -4,745,041 -961,674
Less：Income tax expenses
IV. Net profit（“-”for net loss） -4,745,041 -961,674
V. Earnings per share： -- --
（I）Basic earnings per share
(II)Diluted earnings per share
VI. Other comprehensive income -3,374,860
VII. Total comprehensive income -4,745,041 -4,336,534
47
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
5. Consolidated Cash flow statement
Unit ：RMB
Items Report period Same period of the previous year
I.Cash flows from operating activities
Cash received from sales of goods or
5,167,056 5,295,137
rending of services
Net increase of customer
deposits and capital kept for
brother company
Net increase of loans from
central bank
Net increase of inter-bank
loans from other financial bodies
Cash received against original
insurance contract
Net cash received from
reinsurance business
Net increase of client deposit
and investment
Net increase of trade
financial asset disposal
Cash received as interest,
processing fee and commission
Net increase of inter-bank fund
received
Net increase of repurchasing
business
Tax returned
Other cash received from
559,535 474,345
business operation
Sub-total of cash inflow 5,726,591 5,769,482
Cash paid for purchasing of
452,166
merchandise and services
Net increase of client trade and
advance
Net increase of savings n
central bank and brother company
48
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Cash paid for original contract
claim
Cash paid for interest, processing
fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for
1,550,781 1,623,382
staffs
Taxes paid 1,054,536 987,685
Other cash paid for business
2,955,285 1,890,665
activities
Sub-total of cash outflow
5,560,602 4,953,898
from business activities
Cash flow generated by business
165,989 815,584
operation, net
II.Cash flow generated by
investing
Cash received from investment
retrieving
Cash received as investment
21,841
gains
Net cash retrieved from
disposal of fixed assets, intangible 30,000 10,000
assets, and other long-term assets
Net cash received from disposal
of subsidiaries or other
operational units
Net cash received from disposal
of subsidiaries or other 0 0
operational units
Sub-total of cash inflow due to
51,841 10,000
investment activities
Cash paid for construction of
fixed assets, intangible assets and 83,272 11,031
other long-term assets
Cash paid as investment
Net increase of loan against
pledge
Net cash received from
subsidiaries and other operational
49
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
units
Other cash paid for investment
0 0
activities
Sub-total of cash outflow
83,272 11,031
due to investment activities
Net cash flow generated by
-31,431 -1,031
investment
III.Cash flow generated by
financing
Cash received as investment
Incl: Cash received as
investment from minor
shareholders
Cash received as loans
Cash received from bond
placing
Other financing –related ash
0 0
received
Sub-total of cash inflow from
0 0
financing activities
Cash to repay debts
Cash paid as dividend, profit, or
interests
Incl: Dividend and profit paid
by subsidiaries to minor
shareholders
Other cash paid for financing
0 0
activities
Sub-total of cash outflow due
0 0
to financing activities
Net cash flow generated by
0 0
financing
IV. Influence of exchange rate
alternation on cash and cash 132,554 -662,245
equivalents
V.Net increase of cash and cash
267,112 152,308
equivalents
Add: balance of cash and cash
53,399,316 51,786,613
equivalents at the beginning of
50
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
term
VI.Balance of cash and cash
53,666,428 51,938,921
equivalents at the end of term
6. Cash flow statement of the Parent Company
Unit：RMB
Items Report period Same period of the previous year
I.Cash flows from operating activities
Cash received from sales of goods or
856,782 820,983
rending of services
Tax returned
Other cash received from
702,760 502,155
business operation
Sub-total of cash inflow 1,559,542 1,323,138
Cash paid for purchasing of
452,166
merchandise and services
Cash paid to staffs or paid for
919,417 973,334
staffs
Taxes paid 453,953 464,791
Other cash paid for business
2,066,267 961,154
activities
Sub-total of cash outflow
3,439,637 2,851,445
from business activities
Cash flow generated by business
-1,880,095 -1,528,307
operation, net
II.Cash flow generated by
investing
Cash received from investment
retrieving
Cash received as investment
21,841
gains
Net cash retrieved from
disposal of fixed assets, intangible 30,000 10,000
assets, and other long-term assets
Net cash received from disposal
of subsidiaries or other
51
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
operational units
Other cash receivable for
investment activities
Sub-total of cash inflow due to
51,841 10,000
investment activities
Cash paid for construction of
fixed assets, intangible assets and
other long-term assets
Cash paid as investment
Net cash received from
subsidiaries and other operational
units
Other cash paid for investment
activities
Sub-total of cash outflow
0 0
due to investment activities
Net cash flow generated by
51,841 10,000
investment
III.Cash flow generated by
financing
Cash received as loans
Cash received from bond
placing
Other financing –related ash
received
Sub-total of cash inflow from
0 0
financing activities
Cash to repay debts
Cash paid as dividend, profit, or
interests
Other cash paid for financing
activities
Sub-total of cash outflow due
0 0
to financing activities
Net cash flow generated by
0 0
financing
IV. Influence of exchange rate
alternation on cash and cash 0 2,895
equivalents
52
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
V.Net increase of cash and cash
-1,828,254 -1,515,412
equivalents
Add: balance of cash and cash
equivalents at the beginning of 21,483,163 23,577,186
term
VI.Balance of cash and cash
19,654,909 22,061,774
equivalents at the end of term
7. Consolidated Statement on Change in Owners Equity
Report period
Unit：RMB
Report period
Owners equity Attributable to the Parent Company
Minor
Items Less: Surplu Comm Total of
Capital Special Attribu sharehol
Share Shares s on risk owners
reserve ized table Other ders
Capital in reserve provisi equity
s reserve profit equity
stock s on
169,142 39,742,4 26,704, -116,02 -515,91 -1,373,51 117,673,58
I.Balance at the end of last year
,356 73 791 6,610 4 4 2
Add: Change of accounting
policy
Add: Change of accounting
policy
Correcting of previous errors
169,142 39,742,4 26,704, -116,02 -515,91 -1,373,51 117,673,58
Other
,356 73 791 6,610 4 4 2
II.Balance at the beginning of -4,187,1
-80,951 -38,246 -4,306,333
current year 36
-4,187,1
III.Changed in the current year -4,187,136
36
（I） Net profit -80,951 -38,246 -119,197
-4,187,1
（II）Other misc.income -80,951 -38,246 -4,306,333
36
Total of (I) and (II) 0 0 0 0 0 0 0 0 0 0
(III) Investment or decreasing
of capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
53
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
accounted as owners equity
3. Other 0 0 0 0 0 0 0 0 0 0
（IV）Profit allotment
1.Providing of surplus reserves
2.Providing of common risk
provisions
3．Allotment to the owners (or
shareholders)
4．Other 0 0 0 0 0 0 0 0 0 0
(V) Internal transferring of
owners equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by
surplus reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
169,142 39,661,5 26,704, -120,21 -554,16 -1,373,51 113,367,24
（VII）Other
,356 22 791 3,746 0 4 9
IV. Balance at the end of this
term
Amount of the previous term
Unit:RMB
Amount of the previous term
Owners equity Attributable to the Parent Company
Minor
Items Less: Surplu Comm Total of
Capital Special Attribu sharehol
Share Shares s on risk owners
reserve ized table Other ders
Capital in reserve provisi equity
s reserve profit equity
stock s on
169,142 39,872,5 26,704, -98,665, 5,874,83 -1,311,59 141,617,90
I.Balance at the end of last year
,356 34 791 017 6 5 4
Add：Retrospective adjustment
caused by merger of entities
under common control
54
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Add: Change of accounting
policy
Correcting of previous errors
Other
II.Balance at the beginning of 169,142 39,872,5 26,704, -98,665, 5,874,83 -1,311,59 141,617,90
current year ,356 34 791 017 5 5 4
-130,06 -17,361, -6,390,7 -23,944,32
III.Changed in the current year -61,919
1 593 49 2
-17,361, -17,423,51
（I） Net profit -61,919
593 2
-130,06 -6,390,7
（II）Other misc.income -6,520,810
1 49
-130,06 -17,361, -6,390,7 -23,944,32
Total of (I) and (II) -61,919
1 593 49 2
(III) Investment or decreasing
0 0 0 0 0 0 0 0 0 0
of capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners equity
3. Other
（IV）Profit allotment 0 0 0 0 0 0 0 0 0 0
1.Providing of surplus reserves
2.Providing of common risk
provisions
3．Allotment to the owners (or
shareholders)
4．Other
(V) Internal transferring of
0 0 0 0 0 0 0 0 0 0
owners equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by
surplus reserves.
4. Other
(VI) Special reserves
55
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
1. Provided this year
2．Used this term
（VII）Other
IV. Balance at the end of this 169,142 39,742,4 26,704, -116,02 -515,91 -1,373,51 117,673,58
term ,356 73 791 6,610 4 4 2
8. Statement of change in owners Equity of the Parent Company
Amount of the Current term
Amount of the Current term
Items
Less: Specializ Common Total of
Share Capital Surplus Attributa
Shares in ed risk owners
Capital reserves reserves ble profit
stock reserve provision equity
169,142,35 -90,792,58 136,265,65
I.Balance at the end of last year 31,606,598 26,309,287
6 3 8
Add: Change of accounting
policy
Correcting of previous errors
Other
II.Balance at the beginning of 169,142,35 -90,792,58 136,265,65
31,606,598 26,309,287
current year 6 3 8
III.Changed in the current year -4,745,041 -4,745,041
（I） Net profit -4,745,041 -4,745,041
（II）Other misc.income
Total of (I) and (II) -4,745,041 -4,745,041
(III) Investment or decreasing of
0 0 0 0 0 0 0 0
capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners equity
3. Other
（IV）Profit allotment 0 0 0 0 0 0 0 0
1.Providing of surplus reserves
2.Providing of common risk
provisions
3．Allotment to the owners (or
56
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
shareholders)
4．Other
(V) Internal transferring of
0 0 0 0 0 0 0 0
owners equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by surplus
reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
（VII）Other
IV. Balance at the end of this 169,142,35 -95,537,62 131,520,61
31,606,598 26,309,287
term 6 4 7
Amount of the previous term
Unit：RMB
Amount of the previous term
Items
Less: Specializ Common Total of
Share Capital Surplus Attributa
Shares in ed risk owners
Capital reserves reserves ble profit
stock reserve provision equity
169,142,35 -77,625,32 149,432,91
I.Balance at the end of last year 31,606,598 26,309,287
6 6 5
Add: Change of accounting
policy
Correcting of previous errors
Other
II.Balance at the beginning of 169,142,35 -77,625,32 149,432,91
31,606,598 26,309,287
current year 6 6 5
-13,167,25 -13,167,25
III.Changed in the current year
7 7
（I） Net profit -6,258,858 -6,258,858
（II）Other misc.income -6,908,399 -6,908,399
Total of (I) and (II) -13,167,25 -13,167,25
57
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
7 7
(III) Investment or decreasing of
0 0 0 0 0 0 0 0
capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners equity
3. Other
（IV）Profit allotment 0 0 0 0 0 0 0 0
1.Providing of surplus reserves
2.Providing of common risk
provisions
3．Allotment to the owners (or
shareholders)
4．Other
(V) Internal transferring of
0 0 0 0 0 0 0 0
owners equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by surplus
reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
（VII）Other
IV. Balance at the end of this 169,142,35 -90,792,58 136,265,65
31,606,598 26,309,287
term 6 3 8
（III）Basic Information of the Company
1. Enterprise registration address, organization mode and headquarter address.
The company was previously the Shenzhen Textile Industry Company, on April 13, 1994, approved by the Letter(1994)No.15 issued
by Shenzhen Municipal People's Government, the Company was restructured and named as Shenzhen Municipal Textile (Group) Co.,
Ltd. In the same year, approved by the (1994) No.19 file of Shenzhenshi, the shares of the company were listed in Shenzhen Stock
58
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Exchange. The Company has got the corporate business certification of Shensizi No. 440301105031014, Registration address and
headquarter address are 6/F,Shenfang Building, Huaqiang Road. North, Futian District, Shenzhen.
(III).Basic Information of the Company
Shenzhen Victor Onward Textile Industrial Co., Ltd. (hereinafter referred to as "the Company"),
grew out of the Xingnan Printing Factory Co., Ltd, founded in 1980, was the first wholly
foreign-owned enterprise in Shenzhen. In April 1984, Xingnan Printing Factory Co., Ltd was
changed into foreign joint venture, and was renamed Shenzhen Victor Onward Textile Industrial Co.,
Ltd. . On November 19, 1991, the Company was reorganized into a joint stock limited company and
renamed Shenzhen Victor Onward Textile Industrial Co., Ltd. pursuant to the approval of Shenzhen
Municipal Government.
The domestically listed RMB ordinary shares ("A shares, Stock code: 000018" ) and domestically
listed foreign investment shares ("B shares ,stock code: 200018") issued by the Company were
listed on Shenzhen Stock Exchange in 1992.
By June 30, 2012, the total share capital was 169,142,356 million shares, of which circulating A-share
99,720,453 shares, circulating B-share 69,421,903. of which Union Holdings Co., Ltd. (hereinafter
referred to Union Holdings ) holding limit-sale A-shares43,141,032 shares, accounting for 25.51%
of the total equity, is the controlling shareholder of the company, Union Development Group Co.,
Ltd. (hereinafter referred to Union Group)holding circulating A –share 5,821,089 shares, accounting
for 3.44% of the total equity, Union Group holds 31.32% of equity of Hualian Holdings and has the
right to control Union Holdings, thus Union Group is the actual controller of the Company.
By June 30, 2012, Victor Onward printing and dyeing (Hong Kong) Co., Ltd. (hereinafter referred
to as "Hong Kong Victor Onward"), Shenzhen Nanhua Printing and Dyeing Co., Ltd. (hereinafter
referred to as "Nanhua Company"), Nanhua Printing and Dyeing Co., Ltd as well as its
wholly-funded subsidiary Nanhua Xingye Co., Ltd (hereinafter referred to as "Nanhua
Xingye") ,Shengzhong Industrial Co., Ltd. (hereinafter referred to as "Shengzhong") and Shenzhen
East Asia Victor onward Holding (hereinafter referred to as “East Asia Company) are all
subsidiaries of the Company.
The Group is mainly engaged in the production and processing (printing and dyeing) and sales of various high-grade fabrics of pure
cotton, pure linen, polyester-mixed cotton, linen cotton and mixed fiber and finished garments. Registered address: 26
Kuipeng Road, Kuiyong Town, Longgang District, Shenzhen Legal Representative: Hu Yongfeng
（IV）Principal accounting policies, accounting estimates and early errors
1.Basis for the preparation of financial statements
59
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
The financial statements was prepared on the basis of the Group's continuous operation.
2.Complying with the statements in Accounting Standards for Business Enterprises
The financial statements of the Group comply with the requirements of Accounting Standards for
Business Enterprises, truly reflect the integrity of the financial situation, operating results and cash
flows, and other relevant information of the company.
3.Fiscal year
The fiscal year of the Group starts on January 1 and ends on December 31 on the Gregorian
calendar.
4. Accounting standard money
The Company takes RMB as the standard currency for bookkeeping.
Standard Currency for bookkeeping of overseas subsidiaries
Standard Hongkong Currency for bookkeeping of overseas subsidiaries in Hongkong
5. Accounting process method of enterprise consolidation under same and different controlling.
（1）Enterprise merger under same control
（2）Enterprise merger under different control：
6. Methods for compilation of consolidated financial statements
(1). Principles to determine the scope of merger:
The Group will include the subsidiaries which have actual controlling right and the subjects
which have special purpose into the scope of consolidated financial statements.
(2)Accounting methods adopted in consolidated financial statements:
The consolidated financial statements of the Group shall be compiled in accordance with Enterprise
Accounting Standards No. 33 - Consolidated Financial Statements and the related provisions, the
major internal transaction in the scope of consolidation and transactions shall be offset. The part of
shareholders equity of the subsidiary which does not belong to the parent company, shall be
individually listed as equity of minority shareholders in the consolidated financial statement. If
the accounting policy and accounting period of the subsidiary and the company are not consistent,
when compile consolidated financial statement, the financial statement of the subsidiary shall be
adjusted according to the accounting policy and accounting period of the company.
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For the subsidiary obtained by corporate merger under different control, when prepare consolidated financial
statements, the individual financial statement shall be adjusted on the basis of fair value of the net assets on the
purchase day; for the subsidiary obtained by corporate merger under same control, it will be taken as having been
existed at the year beginning, its assets, liabilities, operating results and cash flow shall be consolidated in the
financial statement according to original book value since the year beginning of the consolidation period.
（2）Accounting treatment when the share equity of the same subsidiary is purchased and sold, or sold and
purchased in successively two years.
7. Cash and cash equivalents
The cash stated in cash flow statement refers to cash in hand and bank deposits usable for payment at any
time. Cash equivalent refers to the investments with holding period of less than 3 months and strong
liquidity that are readily convertible to known amount of cash and subject to insignificant risk of changes in
value.
8. Foreign currency Convert
（1）Foreign currency Transactions
The foreign currency transactions the Group were accounted according to the amount of foreign currency on the first day of the current month
converting to the amount of bookkeeping currency. On the balance sheet date, foreign currency monetary items would be converted into RMB
by using the spot exchange rate on the balance sheet date, the conversion differences produced shall be directly included in the current loss and
gain except the exchange differences produced by foreign currency special loans borrowed for purchasing or production of the assets which
meet the capitalization conditions. The foreign currency non-monetary items measured by fair value shall be converted into RMB by the spot
exchange rate on the fair value date, the conversion differences produced shall be directly included in current loss and gain as fair value
changes. The foreign currency non-monetary items measured by historical costs shall be converted by using the spot exchange rate on the
transaction date, and its RMB amount will not be changed.
（2）Foreign currency statement Convert
The financial statements of the company and the subsidiaries making HK dollars as bookkeeping currency
shall be converted into RMB. In the course of conversion, the assets & liabilities items shall be converted
by using the spot exchange rate on the balance sheet date, the items of shareholders equity except for the
retained profit shall be converted according to the spot exchange rate, the items of incomes and expenses in
the profit statement shall be converted by the approximate exchange rate of spot exchange rate on the
transaction date. The conversion differences of foreign currency statements produced in the above
conversions shall be individually listed under the item of shareholders equity.
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The cash flow in the cash flow statement are converted by the average exchange rate of the market rates
announced in the accounting period. The influences on cash flow from the changes of exchange rate are
separately listed in cash flow statement.
9. Financial instruments
(1) Classification of financial assets:
According to investment purposes and economic nature, the financial assets of the Group can be divided
into the financial assets measured by fair value and the changes included in the current loss and gain, the
expired investments held, receivables and financial assets for sale, the four categories.
The financial assets measured by fair value and the changes included in the current loss and gain: mainly refer to the financial assets for sale in
short term, which shall be listed in balance sheet in transactional financial assets.
The expired investments held: refer to the non-derivative financial assets which have fixed expire date and fixed or determined recovering
amount, and the management level has the intention or ability to hold the assets.
Receivables: refer to the non-derivative financial assets which have no quotation in active market but have fixed or determined recovering
amount, including notes receivable, accounts receivable, interest receivable, dividends receivable and other receivables.
Financial assets for sale: include the non-derivative financial assets which are recognized as for sale when they are initially confirmed, and the
financial assets which are not divided into other categories.
(2) Measurement of financial assets
Financial assets are conducted initial confirmation by at fair value. The relevant expenses to obtain the
financial assets measured by fair value and the changes included in the current loss and gain shall be
included in the current loss and gain, the relevant transactional expenses of other financial assets shall be
the initial confirmation amount.
At fair value and changes in their gains and losses included in the current period of financial assets and
financial assets to be sold in accordance with the fair value of follow-up measures; receivables and
investments held to maturity using the effective interest method to share more than the cost listed.
The changes of fair values of financial assets measured by fair value and the changes included in the
current loss and gain shall be included in the changing loss and gain of fair value; all the interest and cash
dividends obtained during the period holding the assets shall be confirmed as investment income; upon the
disposal of the assets, the differences between the fair value and initial bookkeeping amount shall be
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confirmed as investment loss and gain, and at the same time, the changing loss and gain of fair value shall
be adjusted.
The changes of fair values of financial assets measured by fair value and the changes included in the
current loss and gain shall be included in the changing loss and gain of fair value; all the interest and cash
dividends obtained during the period holding the assets shall be confirmed as investment income; upon the
disposal of the assets, the differences between the fair value and initial bookkeeping amount shall be
confirmed as investment loss and gain, and at the same time, the changing loss and gain of fair value shall
be adjusted. Except for impairment losses and monetary financial assets in foreign currency exchange gains and losses, the financial
assets measured by fair value and the changes included in the current loss and gain, on the financial sheet
date, the Group will check the book value of other financial assets on the balance sheet date, if there is
objective evidence showing that impairment has happened on a financial asset, provision for the
impairment shall be drown.
（3）Recognition basis and measurement for transferred financial assets
Financial assets to meet one of the following conditions, terminates confirmed: ① the right to receive cash
flows from the financial asset of the contract termination; ② the financial asset has been transferred, and the
group will finance almost on all the risks and rewards of ownership of assets transferred to the party; ③ the
financial asset has been transferred, although the Group has neither transferred nor retained almost on all the risks
and rewards of ownership of financial assets, but gave up on the control of financial assets.
Enterprise has neither transferred nor retained almost on all the risks and rewards of ownership of financial
assets, and did not give up on the control of financial assets, in accordance with their continuing involvement in
transferred financial assets recognized on financial assets, and confirm the liabilities accordingly.
Total transfers of financial assets to meet the termination of recognition criteria, the book value of the
transferred financial assets, and received by the transfer price and the original included in other comprehensive
income difference between the sum of the changes in the fair value of the cumulative amount of included in the
current profits and losses.
Financial assets part transfer meet terminated confirmed conditions of, will by transfer financial assets
overall of book value, in terminated confirmed part and is not terminated confirmed part Zhijian, in accordance
with their of relative fair value for sharing, and will due to transfer and received of on price and the should sharing
to terminated confirmed part of original meter into other integrated income of fair value changes Trojan amount of
and, and sharing of Qian in book amount of difference meter into Dang period profit and loss.
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（4）financial Liabilities
The financial liabilities of our Group shall be classified into the financial liabilities or other ones which are measured at their fair values and the
variation of which is recorded into the profits and losses of the current period when they are initially recognized.
The financial liabilities, which are measured at their fair values and the variation of which is recorded into the profits and losses of the current
period, including transactional financial liabilities and the financial liabilities designated which are measured at their fair values and variation
of which is recorded into the profits and losses of the current period when they are initially recognized, shall be made subsequent measurement
on its financial assets according to their fair values, and the profits and losses arising from the change in the fair value and the dividends and
interests expenses related to the financial liability shall be recorded into the profits and losses of the current period.
The subsequent measurement shall be made on the basis of the post-amortization costs by adopting the actual interest rate method for other
financial liabilities.
When financial liabilities present obligations in whole or in part have been discharged, terminating confirmed part of the
financial liabilities or obligations have been discharged. Terminating confirmed part of the difference between the book
value and paying the price, included in the current profits and losses.
（5）The determination method for fair value of financial assets and financial liabilities
1.If there is active market for a financial instrument, the quoted prices in the active market shall be used to determine the fair values thereof. In
the active market, the quoted prices of our Group for the financial assets it holds or the financial liabilities it plans to assume shall be the
present actual offer for the corresponding fair values of assets or liabilities, while the quoted prices of our Group for the financial assets it plans
to acquire or the financial liabilities it has assumed shall be the available charge for the corresponding fair values of assets or liabilities. Where
there is no available offer or charge for a financial asset or financial liability, but there is no any significant change to the economic
environment after the latest transaction day, we shall adopt the market quoted price of the latest transaction to determine the fair value of the
said financial asset or financial liability.
2.Where there is no active market for a financial instrument, we shall adopt value appraisal techniques to determine its fair value. The value
appraisal techniques mainly include the prices adopted by the parties, who are familiar with the condition, in the latest market transaction upon
their own free will, the current fair value obtained by referring to other financial instruments of the same essential nature, the cash flow
capitalization method and the option pricing model, etc.
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（6）Providing of impairment provision on financial assets (exclude receivable accounts)
Except for financial assets at fair value through profit and loss, the Group assesses at the balance
sheet date the carrying amount of other financial assets. If there is any objective evidence that a
financial asset is impaired, the Group provides for such impairment losses.
If there is objective evidence that an impairment loss has been incurred on financial assets carried at
amortized cost, the amount of the loss is measured as the difference between the assets carrying
amount and the present value of estimated future cash flows (excluding future credit losses that
have not been incurred). If in a subsequent period, the amount of the impairment loss increases and
the increase can be related objectively to an event occurring after the impairment is recognized, the
previously recognized impairment loss is reversed by adjusting the allowance account. The amount
of the reversal is recognized in the income statement.
If the fair value of an available-for-sale financial asset incurred a significant or prolonged decline,
the cumulative loss arising from the decline in fair value that has been recognized directly in
shareholders equity is removed from shareholders equity and recognized in the income statement.
If, after impairment loss has been recognized on an available-for-sale debt instrument and the fair
value of the debt instrument increases in a subsequent period whereby the increase can be
objectively related to an event occurring after the impairment losses are recognized, the impairment
loss is reversed and recognized in the profit and loss. If, after impairment loss has been recognized
on an available-for-sale equity instrument, the fair value of the equity instrument increases in a
subsequent period, the impairment loss is directly recognized in shareholders equity.
（7）If investment held to mature is recztegorized to sellable financial assets, please state the
intention or evidence of change incapability
10. Recognition standard and providing basis of bad debt provision on receivable accounts
The Group will recognize the following cases as the determination standard of loss on bad debts for accounts receivable: the debt or others
can't be repaid in the foreseeable period, e.g. the debtor units have been closed, revocation, bankruptcy, insolvent, severe insufficient cash flow
or the occurrence of natural disasters; the repayment obligations are delayed and failed to be performed beyond 3-year by the debt entities;
there are other absolute evidences proving that unable to be collected or little possibility.
The Group adopted the method of counter compensation for the possible bad debt losses, which were
drown provision for bad debt by the method of individual recognition at period end and were included in
the current loss and gain. The receivables which were not to be recovered, after being approved by the
Group, would be regarded as bad debt loss and the provision for bed debt would be written off.
（1）Accounts receivable with material specific amount and specific provisioned bad debt preparation.
Judgment criteria or amount standard of material Account receivable with special account
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specific amount or amount criterial receivable exceeding RMB 1 million is viewed as
material accounts receivable.
Provision method with material specific amount and Provision Had debt preparation in accordance
provision of specific bad debt preparation with the difference of present value of future
cash flow below the book value .
(2)The accounts receivable of bad debt provisions made by Group
Method for recognition of
Name impairment allowances by Basis of determination of groups
group
The group is classified by the credit risk features basised on the
Group of account age The age analysis
account age of receivables
The Group is classified by the credit risk features based on the
Group of Related party Other
relations of account receivables and transaction objects
The Group is classified by the credit risk features basised on the
Deposit group Other
account age of receivables .
Accounts on age basis in the portfolio：
√applicable□ not applicable
Age Rate for receivables(%) Rate for other receivables(%)
Within 1 year（Included 1 year） 3% 3%
1－2 years 10% 10%
2－3 years 50% 50%
Over 3 years 100% 100%
3－4 years
4－5 years
Over 5 years
Accounts on percentage basis in group：
□ applicable √not applicable
Accounts on other basis in group：
√applicable□ not applicable
Name Notes
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Special relationship between the related party and the Group (such as joint
Related party Group ventures, associates, etc.), there is a little balance between the predicted
future cash flow and the carrying amount.
Including the rent deposit, purchase deposit and reserve deposit, etc., but
Deposit group without great individual amount and the bad debt reserves withdrawn by
combination are difficult to reflect the accounts receivable of risk features.
（3）Account receivable with non-material specific amount but specific bad debt preparation
Reason of specific bad debt preparation provision：
Accounts receivable with non-material specific amount and being not able to relent its risk character by provisioning bad debt
preparation in accordance with portfolio
Provision method of bad debt preparation
Bad debt preparation will be provisioned in accordance with the difference of present value of its future cash flow below its book
value.
11. Inventories
(1)The inventories of the Company include raw materials, work-in-process, finished products,
low-value and easily-worn articles and packing articles and are stated at the lower of cost and net
realizable value.
Perpetual inventory system was implemented for inventory, the inventory would be priced
according to actual cost; upon receiving or sending inventory, weighted average method would be
used. The low value consumable products would be amortized by method of one-time writing off.
（2）Pricing method of stock delivered
□ firs-in –first-out □ weighted average□ individual recognition □other
Goods in stock, products in production and other materials directly for the sale, the amount of the
realizable net value shall be determined according to the estimated sale price deducting the
estimated sale expenses and relevant taxes; the amount of realizable value of material inventory for
production shall be determined according to the estimated sale value of finished products deducting
the estimated cost which will happen before the completion and estimated sale cost and relevant
taxes. The inventory holding for the implementation of sale contract or service contract, the
realizable net value shall be accounted on the basis of contract price; if the quantity of inventory
held by enterprise is bigger than the quantity ordered in the sale contract, the realizable net value of
the excess inventory shall be accounted on the basis of general sale price.
（3）Confirmation basis of stock net realizable value and withdrawal method of inventory falling price reserves.
The inventory at year end can be priced by depending on which is lower between cost and
realizable net value if the inventory were damaged or full or partly unused or the sale price lower
than cost and other reasons. The provision for devaluation of finished products and big raw
materials shall be drown according to the difference which the cost of individual inventory item
higher than the realizable net value; other raw materials with large quantity and low unit price shall
be drown provision for devaluation according to categories.
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（4）Inventory system
√ Perpetual inventory □ Fixed date inventory □Other
（5）Amortization method of consumption goods with low value and wrap page
Consumption goods with low value
Consumption goods with low value adopt one time amortization method when used.
Packing
Wrap page：Wrap page adopts one time amortization when used
9.Long-term equity investment
（1）Investment cost confirmation
The long-term equity investments obtained through merger of companies under same control
the merger were the owner's equity book value of the shares as a long-term equity investment of
initial investment cost. The long-term equity investments obtained through merger of companies
under different control shall make the fair value which made on the merger (purchase) to pay the
control of the assets or liabilities as the merger cost.
Apart from the long-term equity investments stated above, the long-term equity investment obtained
by cash, the initial investment obtained by cash will be determined according to the price actually
paid, initial investment costs include the direct costs, tax, and other necessary expenses to obtaining
long-term investment; the initial investment will be determined according to the fair value of the
equity securities issued; the long-term equity investments invested by investors, the initial
investment cost shall be determined according to contract value; the long-term equity investment
obtained by debt restructuring, non-monetary assets or other methods, the initial investment cost
shall be determined according to the relevant accounting standards.
（2）Rear measuring and profit and loss confirmation method
If the subsidiary uses the cost method to account, adjustment shall be conducted according to equity
method when prepare the consolidated financial statements; the joint venture and joint venture
investment using the equity method; for the long-term equity investments which have no control or
joint control or significant influence and no price in an active market, the method of cost shall be
adopted to account; the long-term equity investments which have no control or joint control or
significant influence, there are quotations in an active market and the fair value can be reliably
measured, shall be accounted as financial assets for sale.
When using the method of cost accounting, the long-term equity investments were priced by the
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initial investment costs.Additional investment to recover the cost of long-term equity investment.
When using the equity method accounting, the current investment gains and losses are the share of
net losses and gains to be owned or shared and achieved in the current year by the unit being
invested. When determining the share to be shared by the unit being invested, on the basis of the
fair value of the identifiable assets, according to the accounting policy and accounting period of the
Group, offsetting the internal transaction loss and gain and the part that the equity proportion
attributable to the joint enterprise and united enterprise, and confirm the net profit of the unit being
invested after profit adjustment.
For the long-term equity investments on joint venture enterprises and joint owned enterprises held
before the first implementation date, if existing the debit difference relating to the equity investment,
the debit difference of equity investment, after deducting the investment loss and gain according to
the original remained period, should be confirmed as investment gains and losses.
The Group shall adopt the cost method to calculate for those invested units that never have the
jointed control or significant impacts due to the investment reduced, and a long-term equity
investment for which there is no quoted price in the active market and whose fair value cannot be
reliably measured; Also, the cost method shall be adopted to calculate for the long-term equity
investment able to be implemented and controlled to the invested units due to the investment
supplemented; Moreover, the equity method shall be adopted to account for performing the jointed
control or significant impacts to the invested units but no control formed due to the investment
supplemented, or without control to the invested units but able to implement the long-term equity
investment of jointed control or major impacts to the invested units due to disposing of the
investment.
The gap between the carrying amount and actual payment gained in disposal of the long-term equity
investment will be recorded into the investment interest of the current period. Using the equity
method for calculating the long-term equity investment which is recorded into the owner's equity
due to other changes except for the net profits or losses of the invested units, the initial parts
recorded into the owner's equity shall be transferred into the investment returns of the current period
when disposal of the investment.
（3） Confirm the basis that has common control and major infection upon invested unit.
Long-term equity investments mainly include the equity investments which are held by the Group
and the ones that the units being invested can be controlled or jointly controlled, or the equity
investments which have not quotation in active market and the fair value can not be reliably
measured.
Joint control refers to the control that common control on some economic activities according to
contract. The references for the determination of common control are the business activities which
any operating party can not be controlled independently; the decisions relating to basic operating
activities of the joint venture enterprise are to be agreed by all joint parties.
Significant impact refers to having the right to participate in decision making on financial and
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operating policies of the units being invested but can not control or jointly control the making of
these policies. The determining reference of significant impact is to own 20% (inclusive) or more
but less than 50% of the voting shares directly owned by the Group or owned through subsidiaries,
unless there is clear evidence that under that circumstance the production operating decision can not
be participated and no major influence will formed.
（4）Depreciation testing method and depreciation reserve withdrawal method.
The Group conducts inspection on long-term equity investments, fixed assets, construction in
progress, intangible assets with limited service life on every balance sheet date. when exist the
following signs showing that the assets may have impairment, the Group will conduct impairment
test. The intangible assets without certain service life, whether it has impairment signs, impairment
tests shall be conducted at the end of each year. If the recoverable amount of single asset can not be
tested, it shall be tested on the basis of the asset group the asset belong to or the asset combination.
After the impairment test, if the book value of the asset exceeds its recoverable amount, the
deficiency is recognized as the impairment loss, upon the confirmation of the above assets, they will
not be transferred back in the following accounting period. The recoverable amount of the asset
refer to the net amount of the fair value of the asset deducting disposal cost of assets and the present
value of the expected future cash flows.
The signs of impairment as follows:
(1). Current market value of assets decreased significantly, the decline is significantly higher than
the decline due to time passage or normal use.
(2) The economic, technical or legal environment of the company and the market of the assets will
have significant change in the current period or in the near future, therefore negative impact on the
enterprise.
(3) Market interest rates or other market return rate of investment in the current period have been
increased, thus affecting the discount rate of the predicted cash flow, and resulting in the significant
reduction in the amount of recoverable assets.
(4) There is evidence showing that the assets were actually obsolete or damaged.
(5) The assets have been or will be idle, ended the use or disposed in advance.
(6)There are evidences of internal report showing that the economic performance of the assets has
been lower than or less than what expected, such as the net cash flow created by assets or the
operating profits (or losses) realized are far below (or above)the expected amount.
(7) Other signs showing the assets may have or have had impairment.
13. Investment real estate
The investment real estates of the Group are the rental buildings.
The investment real estates are accounted by the cost, the purchased investment real estates include
the cost of the purchase price, related taxes and fees and other expenses which can be directly
attributable to the assets; the costs of investment real estate self constructed include the necessary
expenses to construct the asset to reach the predicted use state.
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The Group adopts the cost method to conduct follow-up measurement on investment real estates are
accounted devaluations and amortized. The expected service life, net residual rate and value
depreciation rates of investment real estate are as follows:
Type Expected useful Estimated residual value Annual depreciati
life（Year） rate on rate（%）
Real estate in 20-50 years 0% 2%-5%
Hongkong
Real estate in 20-30 years 10% 3%-4.5%
China
If the investment real estate is changed to self use, since the date of change, investment real
estate shall be converted into fixed assets or intangible assets. The function of self-use real estate is
to earn rent or capital appreciation, then since the date of change, the fixed assets or intangible
assets shall be converted into investment real estate. When the conversion happens, the book value
before the conversion will be the book value after the conversion.
When the real estate investment is disposed or will never be used, and economic interests can not be
obtained from the disposal, the confirmation of the investment real estate shall be terminated. The
amount of the income from the sale, transfer, disposal of the investment in real estate deducting the
book value and related taxes and fees shall be included in the current loss and gain.
Using the fair value model for subsequent measurement, should disclose the accounting policy adopted
pursuant to, including the identification of investment real estate market real estate locations have active basis;
Companies able to make the same or similar from the real estate market real estate market prices and other
relevant information, so as to estimate the fair value of investment property basis; Indication of when to estimate
the fair value of investment property key assumptions and main determining factors involved.
14. Fixed assets
（1）Confirmation conditions of fixed assets
Fixed assets refer to the tangible assets which have the following characteristics at the same
time, namely, held for production of goods, providing services, leasing or operation and
management, and the life span shall not be more than a year, and the unit value is high.
（2）Cognizance evidence and pricing method of financial leasing fixed assets
Classification of fixed assets: houses and buildings, machinery and equipments, transportation
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equipments, office equipments and others. The fixed assets shall be measured according to the
actual cost to obtain them, including, the cost of purchasing the fixed assets including the purchase
price, value-added tax, import tariffs and other related taxes, and other expenses happened to reach
the predicted use state; the cost of building the fixed assets, which are composed of the expenses to
reach the predicted use state of the assets; the fixed assets invested by investors, the value on the
contract or agreement shall be the accounting value, but if the contract or agreement value is not fair,
the fair value shall be accounted; the fixed leased assets, the lower amount of the fair value of
leased assets and the present value of the lowest lease payment shall be as the accounting value.
Follow-up expenditures on fixed assets, including major repair expenses, expenses on updated improvement and other, To
confirm compliance with the conditions of fixed assets, it shall be included in the cost fixed assets, the recognition of book value of
If not meeting the conditions of confirming fixed assets, they should
replaced the part shall be terminated;
be included in the current period.
（3）Fixed assets depreciation method
In addition to the fixed assets which depreciation and impairment had already fully accounted
and the lands which are separately accounted, the Group accounts depreciation on all fixed assets.
The method of average number of years will be used when accounting depreciation which will be
included in the costs and expenses of the relevant assets. The predicted net residual rate, classified
depreciation years and depreciation rates are as follows:
Type Expected useful Estimated residual value rate Annual depreciation rate（%）
life（Year）
Produce House and Building 20-50 0-10% 2%-5%
Machinery and equipment 5-14 10% 6%-18%
Electronic Equipment 5 10% 18%
4-5 10% 18%-22.5%
Transportation equipment
Other equipment
financial leasing fixed assets -- -- --
thereunto：House and Building
Machinery and equipment
Electronic Equipment
Transportation equipment
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Other equipment
（4）Depreciation measuring method and depreciation reserves withdrawn method of fixed assets
At the end of each year, the Group shall recheck the predicted service life of fixed assets, the
predicted net residual value and depreciation method, if changes happen, then it shall be treated as
accounting estimate.
（5）Other
When the fixed assets were disposed, or expected to be used or the disposal can not have
economic interests, the confirmation of the fixed assets shall be terminated. The income from the
sale, transfer or damage of the fixed assets deducting the book value and related taxes shall be
included in the current loss and gain.
15. Construction in progress
（1）Categories of projects under construction
（2）Standard and timing for transferring of projects under construction to fixed assets
The price of the construction project: determine the costs according to the actual expenditure on the
project. Measure the price of the self-operated projects according to the direct materials, direct
wages, direct construction costs; Measure the turnkey projects according to the price should be paid
on the project; measure the project of equipment installation according to the value, of the
equipment, installation costs, and the expenditures on the trial operation to determine the project
costs. The costs of projects under construction also include the cost of borrowing to be capitalized
and exchange gain and loss.
The time for the construction project converted to the fixed assets: the fixed assets of the company reached the
predicted state, according to the budget of the project, construction cost or the actual cost of the project, transfer
the fixed assets according to the predicted price, account the depreciation from the next month on. Upon finishing
the procedures, make relevant adjustment.
（3）Impairment text and providing of impairment provisions on projects under construction
16. Borrowing cost
（1）Principle of the recognition of capitalized borrowing costs
Borrowing costs include interest on borrowings, amortization of discount or premium, as well as
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the supporting costs and exchange difference due to foreign currency borrowing. The borrowing
costs which can be directly attributed to capitalized condition, and taken place in the capital
expenditure, borrowing costs have taken place, in order to meet the assets available for sale or
purchase of the necessary state of construction or production activities, the capitalization begins;
when the construction or purchase of the conditions of production in line with the capital assets
reached the sale state, the capitalization should stop. And the rest borrowing costs should be
recognized as expenses in the current period.
（2）Capitalizing period of borrowing expenses
The assets which meet capitalization conditions, refer to the fixed assets, investment real
estates and other inventories which are constructed for a long time (usually more than one year) to
achieve the intended use or sale of state to.
If meet the capitalization conditions or non-normal breaks occurred in the course of production and
the break time is more than three months, then the capitalization of borrowing costs shall be
suspended; when the acquisition or construction or production meet the conditions of capitalization
and achieve the predicted use or sale state, Asset acquisition or production activities began.
（3）Temporarily suspension of capitalizing period
When the construction or purchase of the conditions of production in line with the capital assets
reached the sale state, the capitalization should stop. And the rest borrowing costs should be
recognized as expenses in the current period.
（4）Calculating of borrowing expense capitalizing
The expenses on interests for the specialized loan happened in current period deducting the interest
income from the bank or the investment income from temporary investment should be capitalized;
the general assets of the borrower in accordance with the cumulative excess of expenditure over the
assets of the specialized part of the borrower multiplied by the weighted average expenditure
occupied by the weighted average borrowings to determine the amount of capitalization, until the
restart of construction or purchase of assets. The capitalization rate shall be calculated and determined in the
light of the general borrowing and weighted average interest rate.
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
17. Biological assets
18.Oil gas assets
19.Intangible assets
（1）Pricing of intangible assets
The intangible assets of the Group include land use rights and computer software. Including:
For the intangible assets purchased, the actual purchase price was the actual cost; For the intangible
assets invested by investors, The actual cost of intangible assets invested by investors, shall be
determined according to the contract or agreement value, but if the contract or agreement values are
not fair, the actual costs shall be determined according to the fair value.
Since the date of selling land use rights, they are amortized according to the years sold; patent
technology, non-patent technology and other intangible assets are amortized in accordance with the
expected number of years, the benefited years specified in the contract and the effective length
according to law. The amount to be amortized will be included in the related asset costs and current
loss and gain according to the benefited targets.
The predicted service life of the intangible assets and amortization methods should be
rechecked and adjusted at the end of each year. Recheck the intangible assets with uncertain service
life in each accounting period should be rechecked, if there is evidence showing that the service life
of the intangible asset is limited, then estimate its service life and amortized it within the predicted
service life.
（2）Estimation of service life of intangible assets with limited service life
Name Expected useful life Basis
（3）Intangible assets without certain useful life
（4）Provision for impairment of investment assets
（5）Dividing of research stage and development stage of internal R& D projects
（6）Accounting of internal R & D expenses
75
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
20.Long-term amortization expenses
21.Asset transferring with repurchasing terms
22.Anticipated liabilities
（1）Recognition of expectable liabilities
（2）Accounting of expectable liabilities
23.Share payment and equity instrument
（1）Category of share payment
（2）Recognition of fair value of equity instruments
（3）Recognition basis of best estimation of exercisable equity instruments
（4）Accounting treatment of share payment plan to be implemented, revised , and terminated
24.Repurchasing of the Companys shares
25. Revenues
(1). Recognition time for sales of goods
The Group's revenues mainly include: incomes from sales of goods and transferring assets use right.
The principle of income confirmation is as follows:
When the Group had transferred the ownership of the risks and rewards of the commodities to the
buyer, the Group does not keep the management right relating to ownership and does not implement
effective control on the commodities sold out, the income amount can be reliably measured, and the
related economic benefit will possibly flow into the enterprise, and when the related costs may
happen or had happened can be measured reliably, the realization of the commodity sold out should
be confirmed.
The economic interests relating to transaction can flow into the company, and the relevant incomes
and costs can be reliably measured, the sales income of transferring assets use right shall be
confirmed.
76
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（2）Incomes from transferring asset use right.
（3）Deciding of completion percentage when percentage basis is adopted to recognize income from service
providing or construction contracts.
26. Governmental subsidy
（1）Categories
（2）Accounting treatment
Government subsidies, when the Group can meet the conditions attached and can receive,
shall be confirmed. If government subsidies are monetary assets, they shall be measured according
to the amount received; the subsidies allocated according to rated standards, they shall be measured
according to the amount receivable. If government subsidies are non-monetary assets, they shall be
measured according to fair value; if the fair value can not be reliably measured, they shall be
measured according to nominal amount (1 yuan).
The government subsidies relating to assets shall be recognized as deferred income, and be
averagely distributed within the service life of relevant assets, and be included in the current loss
and gain. If the government subsidies relating to income are used to compensate the related
expenses and losses, they shall be confirmed as deferred income and be included in the current loss
and gain in the period of confirming relevant expenses. If used to compensate the relevant expenses
and losses happened, they shall be included in the current loss and gain.
27. Deferred income tax assets/Deferred income tax liability
（1）Confirmation of deferred income tax assets
The Group shall determine the deferred income tax assets produced by the deductible temporary
differences within the amount limit of payable taxes which are likely used to deduct the temporary
differences. The book value of the recognized deferred income tax assets shall be deducted when
the deferred income tax assets produced by the deductible temporary differences within the amount
limit of payable taxes which are likely used to deduct the temporary differences. When enough
payable tax can be obtained, the deducted amount shall be transferred back. On the balance sheet
date, deferred income tax assets and deferred income tax liabilities shall be measured by the
predicted application rate.
77
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
(2) The confirmation of deferred income tax liability
Deferred income tax assets and deferred income tax liabilities shall be confirmed according to the
difference between the tax base of assets and liabilities and their book value (temporary differences).
On the balance sheet date, deferred income tax assets and deferred income tax liabilities shall be
measured by the predicted application rate.
28.Operational leasing and Financing leasing
（1）Accounting of operational leasing
Operating lease refers to the other lease apart from financing lease. As the lessee, during the lease
period, the Group included the related asset cost and current losses and gains by the straight-line
method during the lease period. The rent of the Group will be confirmed as income during the lease
period by the straight-line method.
（2）Accounting treatment of financing leasing
Financing lease essentially refers to the lease that transferred all the risks and rewards relating to asset ownership. As the lessee,
on the beginning date of lease, the Group took lower one in the cash of the fair value and the lowest lease payment as the
book-keeping value of the fixed assets leased in by financing, and the lowest lease payment as the accounting value of the long-term
payment, and the difference between the them will be recorded as financing costs not confirmed.
29.Sellable assets in possession
（1）Recognition of sellable assets in possession
（2）Accounting treatment of sellable assets in possession
30.Securitilization of assets
31.Hedging instruments
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
32.Change of main accounting policies and estimations
Is there any material change of accounting policies occurred in the year.
□ Yes √ No
（1）Change of accounting policies
Is there any change in accounting policies in the report period
□ Yes √ No
（2）Change of accounting estimations
Is there any change in accounting estimations in the report period
□ Yes √ No
33.Correction of accounting errors in previous period
Is there any accounting error with previous period found in the report period
□ Yes √ No
（1）Retrospective restatement
Is there any retrospective restatement on the accounting error with previous periods done in the report term .
□ Yes √ No
（2）Future adoption method
Is there any future adoption method apply able to accounting errors with previous period, found in the report period
□ Yes √ No
34.Other principal accounting policies, estimations and preparation method of financial statements
（V）Taxation
1.Main categories and rates of taxes
Tax items Tax basis Tax rate
Income from sales of products and
VAT 17%
processing
Excise
Business tax Business income 5%
79
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
City maintenance and construction tax Turnover tax 7%
Enterprise income tax Amount of income taxable 25%
Education surtax Turnover tax 3%
Local surcharge for Education Turnover tax 2%
Income tax rate apply able to branches and factories
2.Preferential tax and approving documents
3.Other statements
The interest rate of corporate income tax of the company and subsidiaries in China mainland is 25%,
according to the State Council on December 26, 2007, of the [2007] No. 39 Notice on the Implementation of
Enterprise Income Tax Preferential Policies for the Transition, the enterprise income tax rate of the Company and
the subsidiaries in China mainland gradually transited from 15% to 25%, the company implement the transition
rate of 25% in 2012. the interest rate of the income from Hong Kong of the subsidiaries in Hong Kong is 16.5%.
The subsidiaries of the Company in Hong Kong do not need to pay VAT. The subsidiaries of the Company in
Hong Kong do not need to pay business tax. The subsidiaries of the company in Hong Kong do not need to pay
City construction tax and education additional expenses. subsidiaries in Hong Kong do not pay property taxes.
(VI) Enterprise consolidation and combined financial statements
Overall statement on consolidating of entities and consolidated financial statements：
1. Subsidiary
（1）Subsidiary obtained through establishment or investment
80
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Unit：RMB
After wrote down
current period loss of
Amount
Other projects minority shareholders
Holdin Whether used to write
Actual balance Proportio over equity beginning
g consolida Interest of down lost
Full name of Registratio Registered Business capital essentially n of share of minority
Subsidiary type Business propor tion of minority included in
subsidiary n place capital scope amounts of from net voting shareholders in the
tion report shareholder minority
the end investment to rights(%) subsidiary from the
(%) form shareholder
subsidiary parent companys
interest
share ,Balance of
Owner's equity
Purchase of raw
materials,
Hong Kong
Limited 2,400,002(Hmarketing of
2,400,002(H
Victor Onward Hongkong Trade printed and dyed 100% 100% Yes 0 0 0
Company KD) KD)
Co., Ltd. woven fabrics,
investment and
holding business
Sales of
Shenzhong Limited 1,000,000(HCorduroy, 1,000,000(H
Hongkong Trade 100% 100% Yes 0 0 0
Company Company KD)dyed cloth and KD)
printed cloth
Production and
Nanhua Limited 85,494,700( sales of printed 85,494,700( 69.44
Shenzhen Production 69.44% Yes 0 0 0
Company Company HKD) cloth and dyed HKD) %
cloth
Limited 10,000(HKSales of printed 10,000(HK
Xinye Company Hongkong 100% 100% Yes 0 0 0
Company D)cloth and dyed D)
81
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
cloth
Textilet,Print
ing and
dyeing
industry and
Shenzhen East Limited Raw
Shenzhen Trade 3,000,000 3,000,000 51% 51% Yes -1,373,514 0 0
Asia Co., Ltd. Company materials ,M
achinery
equipment
and other
fabrics
Other statements on Subsidiaries obtained through incorporation or investment：
82
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（2）Subsidiaries procured through merger of entities under common control
Unit：RMB
After wrote
down current
period loss of
Amount minority
Other
used to shareholders
projects
Whet write over equity
balance Hol Propo
Actual her Interest down beginning
essentiall ding rtion
Full name Regist Registe capital conso of lost share of
Subsidiar Busines Busines y from pro of
of ration red amount lidati minority included minority
y type s s scope net port voting
subsidiary place capital s of on of sharehold in shareholders in
investme ion rights
the end report er minority the subsidiary
nt to (%) (%)
form sharehol from the
subsidiar
der parent
y
interest companys
share ,Balance
of Owner's
equity
Other statements on Subsidiaries procured through merger of entities under common control：
（3）The company has no subsidiary company acquired via enterprise consolidation under same controlling.
Unit：RMB
After wrote down
current period
Amount
Other loss of minority
Wheth used to
projects Hold shareholders over
Actual Proport er write
Full name balance ing equity beginning
Registra Registrat capital ion of consoli Interest of down lost
of Subsidiary Business Scope of essentially prop share of minority
tion ion amounts voting dation minority included
subsidiary type character business from net ortio shareholders in
Place capital of rights( of shareholder in
company investment n the subsidiary
the end %) report minority
to (%) from the parent
form sharehold
subsidiary companys
er interest
share ,Balance of
Owner's equity
83
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Other statements on Subsidiaries procured through merger of entities under different control：
2. Entities with special purposes or entities on which the Company has controlling power through
entrusted operation or leasing
□Applicable √Not applicable
Other statement on entities with special purposes or entities on which the Company has controlling power through entrusted
operation or leasing：
3. Changes of combination scope at current period
Change of consolidation range:
□Applicable √Not applicable
4.Entities included or excluded in the consolidation range in the report period.
There is no other changes in consolidation scope except this. there is no other main part to be newly included or to be excluded in
consolidation scope of this period.
Unit：RMB
Name Net asset at end of term Net profit of the current term
Subsidiaries, entities with special purpose, or entities on which the Company has controlling power through entrusted operation or
leasing excluded from the consolidation range in the report period.
Unit：RMB
Net profit from beginning of year
Name Net asset at day of disposal
to the date of disposal
Other statements on entities included to or excluded from the consolidation range in the report period：
5. Enterprise consolidation under same controlling at the end of current period.
Unit：RMB
Cash flow for
Recognition basis of Income from the Net profit of the
Substantial business activities
Entities taken over entities under beginning of period period until the date
controller of the period until
common control to the date of merger of merger
the date of merger
Other statements on merger of entities under common control：
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
6. Enterprise consolidation under non-same controlling within the reporting period.
Unit：RMB
Entities taken over Amount of goodwill Accounting of goodwill
Other statement on merger of entities under different control.：
7. Sell stock right losing controlling right to decrease subsidiary company.
Name of the subsidiaries Date of disposal Recognition of gain/loss
Other statement on subsidiaries reduced for disposal of shares and lose of control power：
8. Reverse acquisition occurred in the report period.
Goodwill recognized in merger
Basis for recognition of reverse
The undertaker Recognition of merger cost or accounting basis of current
acquisition
gain/loss
Other statements on reverse Acquisition:
9. Takeover occurred in the report period.
Unit ：RMB
Type OF takeover Main assets taken over Main liabilities taken over
Takeover under common control Items Amount Items Amount
Takeover under different control Items Amount Items Amount
Other statement on takeover:
10.Exchange rate of main accounts of overseas businesses.
The company and the subsidiaries adopting Hong Kong dollars as their bookkeeping standard
currencies, their financial statements shall be translated into the ones RMB; for the items in balance
sheet, translation is done according to spot rate of balance sheet date; except for the items of
shareholders equity outside of the undistributed profits, for which the translation is done according
to spot rate of balance sheet date (or actual rate), and for the items of incomes and expenses in the
85
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
income statement, the translation is done as per the approximate exchange rate of spot rat of balance
sheet date. The translation differences of foreign currencies generated between the above
translations should be separately shown in the items of shareholders equity. Also, for the cash flows
statement, the translation is done according to the approximate exchange rate of spot rate of cash
flows date, and the amount of rate changes affecting on cash shall be individually shown in the cash
flows statement. During the report period, the spot exchange rate of HKD against RMB as at Jan.1
is 0.8107, the spot rate as at Dec.31 is 0.81522, and the approximate exchange rate of spot rate is
adopted the current average rate of 0.81296.
(VII). Notes of consolidated financial statements
1. Currency funds
Unit：RMB
Year-end balance Year-beginning balance
Items
Exchan Original Exchange
Original currency ge rate RMB currency rate RMB
Stock cash -- -- 62,005 -- -- 13,567
RMB -- -- 54,186 -- -- 10,547
9,591 0.81522 7,819 3,725 0.8107 3,020
Bank deposit -- -- 52,976,207 -- -- 52,631,239
RMB -- -- 26,985,971 -- -- 27,166,560
30,550,427 0.81522 24,905,319 30,084,085 0.8107 24,389,168
171,531 6.3249 1,084,917 170,692 6.3009 1,075,511
Other monetary capital -- -- 628,216 -- -- 754,510
RMB -- -- 628,216 -- -- 754,510
Total -- -- 53,666,428 -- -- 53,399,316
Accounts under pledge, restriction, or saved abroad, which are attached with potential risks, shall be stated individually.：
Funds in other currencies (RMB) mainly kept in the securities of the Group companies for the purchase
of new shares issued by drawing lots of money does not exist at the end of restrictions on the use of
monetary funds.
2.Financial assets for transaction
（1） Financial assets for transaction
86
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Unit：RMB
Items Fair value at end of term Fair value at beginning of term
Transactional bond investment
Transactional equity instruments 55,390 68,900
Financial assets assigned to be accounted into current
gain/loss account at fair value
Deductive financial assets
Hedge instrument
Other
Total 55,390 68,900
（2）Transactional financial assets with restriction to liquefy
Unit：RMB
Restriction for sale or other material restriction on
Items Amount at end of term
liquefying
（3）Statements on hedge instruments and related trading
3. Bill receivable
（1）Classification Bill receivable
Unit RMB
Classification Year-end balance Year-beginning balance
Total
（2）Bill receivable under pledge
Unit：RMB
Issuer Date of issue Expired on Amount Remark
Total -- -- --
Notes：
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（3）Bill transferred to account receivable for the issuer is not able to execute the liability , and notes endorsed to
other parties but are not mature yet at the end of period.
Unit：RMB
Issuer Date of issue Expired on Amount Remark
Total -- -- --
Notes：
Bill endorsed to other parties but not due
Unit： RMB
Issuer Date of issue Expired on Amount Remark
Total -- -- --
Statements on commercial accepted notes already discounted or under pledge：
4.Dividend receivable
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Dividend receivable with
age within 1 year
In which：
Dividend receivable with
age over 1 year
In which： -- -- -- --
Total
Notes：
5.Interest receivable
（1）Interest receivable
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Fixed deposit interest 38,378 38,378 0
Total 38,378 0 38,378 0
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（2）Overdue interests
Unit：RMB
Loan provided by Days overdue（day） Amount of interests overdue
Total --
（3）Statement on interest receivable
6. Account receivable
（1）Classification Account receivable :
Unit :RMB
Year-end balance Year-beginning balance
Book balance Provision for bad debts Book balance Provision for bad debts
Classification
Proportion Proportion Proportion Proportion
Amount Amount Amount Amount
（%） （%） （%） （%）
Receivables with major
individual amount and bad
debt provision provided
individually receivables
3,714,877 29.47% 2,970,165 79.95% 3,714,877 29.47% 2,970,165 79.95%
with major individual
amount and bad debt
provision provided
individually
Receivables provided bad debt provision in groups
Subtotal of group 0 0% 0 0% 0 0% 0 0%
Account receivable with
minor individual amount
8,892,549 70.53% 8,892,549 100% 8,892,549 70.53% 8,892,549 100%
but bad debt provision is
provided
12,607,42
Total 12,607,426 -- 11,862,714 -- -- 11,862,714 --
6
Category explanation of accounts receivable:
Receivable accounts with large amount individually and bad debt provisions were provided.
Unit：RMB
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Description of the receivable accounts Book balance Bad debt provision Rate Reason to provide
Hong Kong Victor Onward Co., Ltd.
1,606,281 861,569 53.64% Aging long
Carnival Index International Ltd 1,098,549 1,098,549 100% Aging long
TAI YANG ENTERPRISE CO.,LTD 1,010,047 1,010,047 100% Aging long
Total 3,714,877 2,970,165 --
Other receivable account in Group on which bad debt provisions were provided on percentage basis：
□Applicable √Not applicable
Receivable accounts on which bad debt provisions are provided by other ways in the portfolio：
□Applicable √Not applicable
Other receivable account in Group on which bad debt provisions：
□Applicable √Not applicable
Other receivable accounts with minor amount but were provided had debt provisions individually at end of period.
√Applicable □Not applicable
Unit：RMB
Description Of other
Book balance Amount of bad debt rate reason
receivables
VEGA GARMENT
770,071 770,071 100% Aging long
CO.,LTD
Quanzhou Ideal Bird
80,518 80,518 100% Aging long
Garment Co., Ltd.
Tangshan lifeng Garment
45,761 45,761 100% Aging long
Co., Ltd.
Fly Dragon International 573,536 573,536 100% Aging long
Grateful Textiles Co.,Ltd 566,661 566,661 100% Aging long
World Fabrica (Int'l) Ltd 465,126 465,126 100% Aging long
Shenzhen Fangzhou
446,352 446,352 100% Aging long
Textiles Co., Ltd.
Ezhou Xiangya Clothing
351,500 351,500 100% Aging long
Co., Ltd.
Tak Shing Buying Office
333,502 333,502 100% Aging long
Led
Starline Textile CO.Ltd. 332,234 332,234 100% Aging long
Shenye Union （HK）
299,354 299,354 100% Aging long
Co.., Ltd.
Panther Fabric Ltd. 295,088 295,088 100% Aging long
90
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Changshu Zhongjiang
Clothing Import & 270,134 270,134 100% Aging long
Export Co., Ltd.
Victor Onward
245,560 245,560 100% Aging long
Textile(HK)Co., Ltd.
Nissho Iwai HK Corp
215,229 215,229 100% Aging long
Ltd.
Unimix Ltd. 192,891 192,891 100% Aging long
Tai Hing Linings Co Ltd 191,295 191,295 100% Aging long
Human Changpuan
185,981 185,981 100% Aging long
Garment
Ningbo Youngor
Fukurmura Uniforms 172,910 172,910 100% Aging long
Co., Ltd.
Total 8,892,549 8,892,549 100% --
（2）Receivable accounts written back or retrieved in the report period
Unit：RMB
Bad debt provision
Description of the receivable Reason to write back Basis of original bad Amount written back or
provided before writing
accounts or retrieve debt provision retrieved
back or retrieving
Total -- -- --
Receivable accounts with large amount, or minor amount but on which bad debt provisions are provided individually at end of
period：
Description of the
Book balance Amount of bad debts Providing rate（%） Reason
receivable account
Total -- --
Remarks on receivable accounts with minor single amount but with greater risks after combining with accounts with similar risks：
（3）Receivable accounts actually written off in the report period
Unit：RMB
Name of the Property of the Reason of writing Occurred under
Date of written off Amount written off
company receivable account off related relationship
91
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total -- -- -- --
Statement on writing off of receivable accounts：
(4)Particulars about the receivable accounts due from shareholders with 5% or over of the Companys shares
□Applicable √Not applicable
（5）The front 5 units information of account receivable
Unit：RMB
Relation with the Portion in total
Name Amount Ages
Company receivables(%)
Victor Onward
Non-Related parties 1,606,281 Over 3 years 12.74%
Textile(HK)Co., Ltd.
Carnival Index
Non-Related parties 1,098,549 Over 3 years 8.71%
International Ltd
TAI YANG
Non-Related parties 1,010,047 Over 3 years 8.01%
ENTERPRISE CO.,LTD.
VEGA GARMENT
Non-Related parties 770,071 Over 3 years 6.11%
CO.,LTD
Fly Dragon
Non-Related parties 573,536 Over 3 years 4.55%
International
Total -- 5,058,484 -- 40.12%
（6）Account due from related parties
Unit：RMB
Name of the company Relation with the company Amount Portion in total receivables(%)
The related parties controlled
Shenye Union（HK）Co., Ltd. 299,354 2.37%
the same Actual controller
Total -- 299,354 2.37%
（7）Recognition of receivable accounts terminated
Unit：RMB
Items s Amount terminated Gain/loss related to termination
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total
（8）For securitization on receivable accounts, please provide the amount of asset and liability formed by
continuous involving
Unit：RMB
Items At end of term
Assets：
Subtotal of asset
Liabilities：
Subtotal of liabilities
7.Other Account receivable
（1）Category of other account receivable:
Unit ：RMB
Year-end balance Year-beginning balance
Book balance Book balance Book balance Book balance
Classification
Proportio Proportio Proportion Proportio
Amount Amount Amount Amount
n（%） n（%） （%） n（%）
Receivables with major
individual amount and
3,368,370 75.09% 3,368,370 100% 3,368,370 69.76% 3,368,370 100%
bad debt provision
provided individually
Receivables provided bad debt provision in groups
Subtotal of group 114,831 2.56% 457,264 9.47%
Account receivable with
minor individual amount
1,002,594 22.35% 1,002,594 100% 1,002,594 20.77% 1,002,594 100%
but bad debt provision is
provided
Total 4,485,795 -- 4,370,964 -- 4,828,228 -- 4,370,964 --
Statement on categories of other receivable accounts：
Other receivable accounts with large amount and were provided had debt provisions individually at end of period.
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
√Applicable □Not applicable
Unit：RMB
Description Of other
Book balance Amount of bad debts Rate Reason
receivables
Nanjing East Asia 1,313,370 1,313,370 100% Aging long
CCB.Guangdong
1,080,000 1,080,000 100% Aging long
Shunde Branch
Changzhou Dongfeng
Textile Printing & dyeing 975,000 975,000 100% Aging long
Equipment Co., Ltd.
Total 3,368,370 3,368,370 -- --
Other receivable account in Group on which bad debt provisions were provided on percentage basis：
□Applicable √Not applicable
Receivable accounts on which bad debt provisions are provided by other ways in the portfolio：
□Applicable √Not applicable
Other receivable account in Group on which bad debt provisions：
□Applicable √Not applicable
Other receivable accounts with minor amount but were provided had debt provisions individually at end of period.
√Applicable □Not applicable
Unit：RMB
Description Of other
Book balance Amount of bad debts Rate Reason
receivables
HongKong Victor
693,951 693,951 100% Aging long
Onward
Shanghai Huayinke
180,000 180,000 100% Aging long
Trade Industry Co., Ltd.
Shenzhen Environmental Aging long
Management System 35,000 35,000 100%
Certification Center
Shenzhen Design
Institute of Ministry of
30,000 30,000 100% Aging long
Machinery Industry
Shanghai Branch
Other 63,643 63,643 100% Aging long
Total 1,002,594 1,002,594 100% --
94
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（2）Other receivable accounts written back or retrieved in the report period
Unit：RMB
Bad debt provision
Description of other Reason to write back Basis of original bad Amount written back or
provided before writing
receivables or retrieve debt provision retried
back or retrieving
Total -- -- --
Receivable accounts with large amount, or minor amount but on which bad debt provisions are tested and provided individually at
end of period
Description of the
Book balance Amount of bad debt Providing rate（%） Reason
receivable accounts
Total -- --
Statement on other account receivable with minor amount but with greater risks when combined with other receivable accounts with
similar natures：
（3）Other receivable accounts actually written off in the report period
Unit：RMB
Name of the Reason of written Occurred under related
Property of account Date of written off Amount written off
Company off relationship
Total -- -- -- --
Statements on writing off of other receivable accounts：
（4）Particulars about the other receivable accounts due from shareholders with 5% or over of the Companys
shares in the report period.
□Applicable √Not applicable
（5）Natures or contents of other receivable accounts with large amount
Unit：RMB
Nature or content of the
Name Amount Portion in total other receivables(%)
account
95
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total --
Notes：
（6） The front 5 units information of Other account receivable
Unit：RMB
Relation with the Portion in total other
Name Amount Ages
Company receivables (%)
Nanjing East Asia Non-Related parties 1,313,370 Over 3 years 27.2%
CCB.Guangdong Over 3 years
Non-Related parties 1,080,000 22.37%
Shunde Branch
Changzhou Dongfeng Over 3 years
Textile Printing & dyeing Non-Related parties 975,000 20.19%
Equipment Co., Ltd.
HongKong Victor Over 3 years
Non-Related parties 693,951 14.37%
Onward
Shanghai Huayinke Over 3 years
Non-Related parties 180,000 3.73%
Trade Industry Co., Ltd.
Total -- 4,242,321 -- 87.86%
（7）Account receivable from Related parties
Unit： RMB
Portion in total other receivables
Name Relation with the Company Amount
(%)
Total --
（8）Termination of other receivable accounts
Unit：RMB
Items Amount terminated Gain/loss related to termination
96
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total
（9）For securitization on other receivable accounts, please provide the amount of asset and liability formed by
continuous involving
Unit：RMB
Items At end of term
Assets：
Subtotal of assets
Liabilities：
Subtotal of liabilities
8.Prepayments
（1）Prepayments age :
Unit:RMB
End of term Beginning of term
Age Proportion Proportion
Amount Amount
（%） （%）
Within 1 year 19,693 100% 27,089 98.33%
1-2 years 459 1.69%
2-3 years
Over 3 years
Total 19,693 -- 27,548 --
Notes to age of payment in advance:：
（2） The front 5 units information of Prepayments
Unit：RMB
Relation with the
Unit name Amount Time Reason of not clearing
company
Other Non-Related parties 19,693 Not settlement
Total -- 19,693 -- --
Statements on main receivers of prepayments：
97
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（3）Prepayment received by shareholding parties holding 5% or above of the Companys shares in the report
period.
□Applicable √Not applicable
（4）Statements on prepayments
9.Inventory
（1）Inventory types
Unit ：RMB
Year-end balance Year-beginning balance
Items Book balance Provision for Book value Book balance Provision for bad Book value
bad debts debts
Raw materials 2,030,716 1,868,259 162,457 2,030,716 1,868,259 162,457
Processing
products
Stock goods 635,916 635,916 635,916 635,916
Turnover materials
Consumable
biological assets
Total 2,666,632 2,504,175 162,457 2,666,632 2,504,175 162,457
（2）Inventory Impairment provision
Unit： RMB
Book balance at year Amount accounted in Amount Decreased in current period Book balance at period
Type end
Transferred back Reselling
beginning current period
Raw materials 1,868,259 1,868,259
Processing products
Stock goods 635,916 635,916
Turnover materials
Consumable biological
98
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
assets
Total 2,504,175 2,504,175
（3）Condition of stock value decline
Items Base of stock value decline Reason of issuing back to stock Proportion of issuing back
value decline plan of this period amount to the stock balance at
this period
Raw materials
Processing products
Stock goods
Turnover materials
Consumable biological assets
Statement on inventories：The Company has been out of production, the closing inventories shall be written
down after deducting the full amount provisions except the preservation materials.
10.Other current assets
Unit：RMB
Items End of term Beginning of term
Total 0 0
Statement on other current assets：
11. Disposable financial asset
（1）Sellable financial assets
Unit：RMB
Items Fair value at end of term Fair value at beginning of term
Available-for-sale bonds
Available-for-sale equity instruments 626,024 703,055
Other
Total 626,024 703,055
The amount of investment held to mature recategorized to sellable financial assets was RMB 0 , Account for 0% of total investment
99
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
held to mature.
Statement on sellable financial assets:
The equity tools for sale are the shares held by the subsidiary of the company Hong Kong Victor Onward because they are not to
be cashed in a short term.
（2）Long-germ liability investment in the sellable financial assets
Unit：RMB
Accumulated
Beginning Interest of the interest Ending
Bond items Type of bond Face value Initial costs Expired on
balance period received or balance
receivable
Total -- -- --
Statement on long-term liability investment in the sellable financial assets：
12.Investment held to mature
（1）Investment held to mature
Unit：RMB
Items s Balance of book value at end of term Balance of book value at beginning of term
Total 0 0
Statement on investment held to mature：
（2）Investment held to mature disposed in the report period before mature
Unit：RMB
Percentage in the total investment before disposed
Items Amount
（%）
Total --
Statement on investment held to mature disposed in the report period before mature：
100
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
13.Long-term receivables
Unit：RMB
Categories End of term Beginning of term
Financed rent
Incl: un-realized financial gains
Sales of goods in stallments
Providing of services in stallments
Other
Total 0 0
14. Investment to joint venture and Affiliated Enterprises
Unit：RMB
Company
vote right
Company Total
percentag
Legal sharehold Ending Ending business
Corporati Registrati Business Registere e in the Ending Current
Name Represent ing total total revenues
on Type on place Nature d Capital invested net assets net profit
ative percentag assets liabilities at this
unittion
e (%) period
of units
(%)
I. Joint venture
II. Affiliated enterprise
Statements on material diversity in accounting policies, estimations adopted by the Company and the affiliates:
15. Long term share equity investment.
101
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（1）Details of long-term equity investment
Unit：RMB
Explaination of
diffirence between
Shareholding Voting right shareholding
Accounting Initial investment Cash
Name Original balance change Ending Balance proportion in the proportion in the proportion and Devalue Current devalue
method cost bonus
investee investee voting right
proportion in
investee
Zhejiang Union
Hangzhou Bay Equity
58,588,403 63,192,614 565,997 63,758,611 25% 25% None 0 0 0
Chuangye Co., method
Ltd.
Total -- 58,588,403 63,192,614 565,997 63,758,611 -- -- -- 0 0 0
102
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（2）Constrains on the ability to transfer capital to invested entities
Unit：RMB
Constrains on the ability to transfer capital Accumulated investment loss not
Causation of constrain
to long-term invested entities recognized
Statements on long-term equity investment：
Zhejiang Union Hangzhou bay Chuangye Co., Ltd. (hereinafter named“Hangzhoubay”) current change including current profit
confirmed by equity method is RMB1,670,495.
16.Investment real estate
（1）Measured by the cost of investment in real estate
√Applicable □Not applicable
Unit：RMB
Items Book amount at year Increase at this period Decrease at this period Book balance in year -end
beginning
96,912,003 0 108,308 97,020,311
1. Total original price
96,912,003 0 108,308 97,020,311
1.House, Building
0 0 0 0
2.Land use right
II.Total accumulated
depreciation
62,538,552 1,630,793 0 64,169,345
accumulated
amortization
62,538,552 1,630,793 64,169,345
1.House, Building
2.Land use right
III. Total book
34,373,451 0 0 32,850,966
value of
investment real
103
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
estate
34,373,451 0 0 32,850,966
1.House, Building
2.Land use right
IV. Total of
accumulated
provision for
0 0 0 0
devaluation of
investment real
estate.
0 0
1.House, Building
0 0
2.Land use right
V. Total book value of
34,373,451 0 0 32,850,966
investment real estate
34,373,451 0 0 32,850,966
1.House, Building
0 0 0 0
2.Land use right
Unit ：RMB
This period
Current amount of depreciation and amortization 1,630,793
Investment real estate in this period the amount of impairment 0
（2）Investment property on fair value basis
□Applicable √Not applicable
Statements the investment properties which have changed of measurement basis and those which are not licensed yet, statement
thereason and expected completion date.
17. Fixed assets
（1）Fixed assets
Unit：RMB
104
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Items Book amount at Increase at this period Decrease at this Book balance in
year beginning period year -end
1. Total original
161,061,029 83,272 1,440,301 159,704,000
price
47,972,628 330,737 47,641,891
Including: House , Building
99,308,680 684,662 98,624,018
Machinery equipment
4,593,873 279,953 4,313,920
Transportations
Office Equipment and other 9,185,848 83,272 144,949 9,124,171
Book balance at Current term Current term Decrease at this Book balance in
--
year beginning new extra provision period year -end
II. Total of accumulative
111,375,689 0 97,312 1,237,211 110,041,166
depreciation
26,281,961 45,144 175,600 26,061,217
Including: House , Building
75,008,036 758,838 74,249,198
Machinery equipment
4,052,772 46,040 172,377 3,834,355
Transportations
Office Equipment and other 6,032,920 6,128 130,396 5,896,396
Book balance at Book balance in
-- --
year beginning year -end
III. Total book value of
49,685,340 -- 49,662,834
Fixed assets
21,690,667 -- 21,580,674
Including: House , Building
24,300,644 -- 24,374,820
Machinery equipment
541,101 -- 479,565
Transportations
Office Equipment and other 3,152,928 -- 3,227,775
IV. Total of Devalued
37,614,934 -- 37,614,934
Provision
15,466,004 -- 15,466,004
Including: House , Building
19,407,245 -- 19,407,245
Machinery equipment
105
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
50,276 -- 50,276
Transportations
Office Equipment and other 2,691,409 -- 2,691,409
V. Total book value of
12,070,406 -- 12,047,900
Fixed assets
6,224,663 -- 6,114,670
Including: House , Building
4,893,399 -- 4,967,575
Machinery equipment
490,825 -- 429,289
Transportations
Office Equipment and other 461,519 -- 536,366
Current depreciation is RMB 97,312 . The issue of fixed assets transferred from construction in progress original price is RMB 0.
（2）Fixed assets temporarily in idle status
Unit：RMB
Accumulated Impairment
Items Original book value Net book value Notes
depreciation provision
Including: House ,
44,541,973 25,173,561 15,466,005 3,902,407
Building
Machinery
98,998,752 74,858,652 19,471,657 4,668,443
equipment
2,731,156 2,458,006 0 273,150
Transportations
Office Equipment
7,461,982 4,758,253 2,504,293 199,436
and other
（3）Fixed assets leased by finance
□Applicable √Not applicable
（4）Fixed assets leased out on finance.
□Applicable √Not applicable
（5）Fixed assets held for sale at end of period
Unit：RMB
Predicted disposal
Items Book value Fair value Predicted disposal date
expense
106
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（6）Fixed asset not licensed yet
Item Reason for not granted Expected date of grant
Statements of fixed assets：
18.Project under construction
（1）
Unit：RMB
Year-end balance Year-beginning balance
Book Provision for Book Net value Book Provision for Book Net value
balance devaluation balance devaluation
Items
Total 0 0 0 0 0 0
107
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（2）Significant changes in projects of construction-in-progress
Unit：RMB
Thereinto:
Project Accumulated
Amount at amount of Current Interest
Increase at Transferred to investment Project amount of
Current
Amount at year
Name Budget year Other reduction capitalization Capital source
this period fixed assets proportion of progress interest end
beginning Interest rate
the budget capitalized
capitalized
Total 0 0 0 0 0 -- -- 0 0 -- -- 0
Statements on change of construction-in-progress：
108
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（3）Impairment Provisions of Construction in progress
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term Reason to provide
Total 0 0 0 0 --
（4）Major projects under construction
Items Project progress Notes
（5）Statement on projects under construction
19.Engineering Material
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Total 0 0 0 0
Statement on project material：
20.Liquidation of fixed assets
Unit：RMB
Items Beginning book value Eng book value Reason of liquidation
Total 0 0 --
Progress of fixed assets turn to be liquidated for over one year：
21.Production biological assets
（1）On costs
□Applicable √Not applicable
（2）On fair value
□Applicable √Not applicable
22.Petrolum assets
Unit：RMB
Beginning balance of End balance of book
Items Increased this term Decreased this term
book value value
1. Total of original book
0 0 0 0
value
1．Rights on proved
minefield
109
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
2．Rights on unproved
minefield
3．Wels and facilities
II.Total of accumulative
0 0 0 0
depreciation
1．Rights on proved
minefield
2．Wels and facilities
III.Total Of accumulative
impairment provision on 0 0 0 0
petroleum assets
1．Rights on proved
minefield
2．Rights on unproved
minefield
3．Wels and facilities
IV.Total of book value of
0 0 0 0
petroleum assets
1．Rights on proved
minefield
2．Rights on unproved
minefield
3．Wels and facilities
Statements on petroleum assets：
23. Intangible assets
（1）Intangible assets
Unit：RMB
Items Book Balance in Increase at this Book Balance in
Decrease at this period
year-begin period year-end
13,023,720 0 0 13,023,720
1. Total original price
12,356,137 12,356,137
Land Use right
Software 667,583 667,583
II. Total amount of
10,895,491 20,152 0 10,915,643
accumulated
10,455,068 20,152 10,475,220
Land Use right
Software 440,423 440,423
III. Book value of
2,128,229 0 0 2,108,077
intangible assets
1,901,069 1,880,917
Land Use right
Software 227,160 227,160
IV.Total value of
provision for 227,160 0 0 227,160
impairment
110
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Land Use right
Software 227,160 227,160
IV.Total value of
provision for 1,901,069 0 0 1,880,917
impairment
1,901,069 1,880,917
Land Use right
Software 0 0
The amortization amount is RMB 20,152.
（2）The current expenditure on non-development projects
Unit：RMB
Decrease at this period
Balance in Increase at this Accounted into
Items Recognized as Balance in year-end
year-begin period current income
intangible asset
account
Total 0 0 0 0 0
R & D expenses of the current period accounted for % of the total coast of R&D.
Intangible asset formed by internal R&D of the period accounted for % of the total book value of intangible assets
Statement on R&D projects, including single account over RMB 1 million basing on evaluation results. Please provide the evaluation
body and basis of evaluation.
（3）Uncertificated intangible assets
24. Goodwill
Unit：RMB
Name of the investee or the Balance in Increase at this Decrease at this Book Balance in Ending devalue
matter of forming Goodwill year-begin period period year-end provision
For the goodwill formed
from holding shares of 5,099,624 5,099,624
Nanhua Company,
Total 5,099,624 0 0 5,099,624 0
Statement of basis for impairment testing and provision of goodwill：
25. Long-term amortization expenses
Unit ：RMB
Items Amount of Other Decrease Balance in year Other
Balance in Increase at
amortization at end
year-begin this period
current period
Total 0 0 0 0 0 --
Statement on long-term amortizable expenses：
111
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
26. Deferred income tax assets/Deferred income tax liabilities
(1）Recognized deferred income tax assets and deferred income tax liabilities
√Applicable □Not applicable
Recognized deferred income tax assets and deferred income tax liabilities
Unit：RMB
Items Year-end balance Year-beginning balance
Deferred income tax assets：
Assets depreciation reserves
Start-up costs
Deductible loss
Subtotal
Deferred income tax liability：
Trading of financial instruments and Derivative
financial instruments
Increase and decrease of fair value of
available-for-sale financial assets
Assessed tax-free periods of time caused by
812,841 808,335
differences in income
Subtotal 812,841 808,335
Details of taxable differences and deductible differences
Unit：RMB
Items At end of term At beginning of term
Deductible provisional differences
Neutralizable losses
Total
Deductible losses of the un-recognized deferred income tax asset will expire in the following years
Unit：RMB
Year At end of term At beginning of term Notes
Total --
Details of taxable differences and deductible differences
Unit：RMB
Amount of temporary differences
Items
At end of term At beginning of term
Differences in taxable items
Assess the value of assets 4,926,309 4,899,000
Subtotal 4,926,309 4,899,000
Deductible difference project
Subtotal
112
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（2）Deferred income tax assets and liabilities are presented as net amount after neutralization
√Applicable □Not applicable
Statement on deferred income tax assets and liabilities：
27.Detail of asset impairment provision
Unit： RMB
Decrease at this period
Balance of book Withdrawal amount Transfer in Balance of book
Increase at this in this value at end of
Items value at beginning term
period
of term
1. Bad debt provision
2 Inventory impairment
2,504,175 2,504,175
provision
3. Disposable financial asset
impairment provision
4. Investment equity hold till
expiring impairment
provision
5. Long-term equity
investment impairment 0 0
provision
6. Property investment
0 0 0
impairment provision
7.Fixed asset impairment
37,614,934 37,614,934
provision
8. Project material impairment
provision
9. Construction in process
0 0 0
impairment provision
10 Production biological
material asset impairment
provision
Incl. Mature production
biological material asset
impairment provision
11. Gas & oil asset
0 0 0
impairment provision
12. Intangible asset
227,160 0 227,160
impairment provision
13. Goodwill impairment
0
provision
14.Other
Total 56,579,947 0 0 0 56,579,947
Statement on details of asset impairment：
28.Other non-current assets
Unit：RMB
Items At end of term At beginning of term
Total 0 0
113
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Statement on other non-recurring assets
29. Short-term borrowings
（1）Categories of short-term loans
Unit：RMB
Items At end of term At beginning of term
Loan by pledge
Pledged loan
Guarantee loan
Credit loan
Total 0 0
Statement on categories of short-term loans：
（2）Short-term loans expired but not repaid
Unit：RMB
Loan provided by Amount of loan Interest rate Usage of loan Reason of overdue Scheduled repaying date
Total 0 -- -- -- --
Repaid in post-balance-sheet period.
Statement on short-term loans, including due but extended. Please provide the extending conditions and extended expiration date.
30.Transactional financial liabilities
Unit：RMB
Items Fair value at end of term Fair value at beginning of term
Transactional bonds issued
Financial liabilities accounted on fair value and
the fluctuations accounted into current
gain/loss account
Deductive financial liability
Other financial liabilities
Total 0 0
Statement on transactional financial liabilities：
31.Bills payable
Unit：RMB
Type At end of term At beginning of term
Commercial acceptance
Bank acceptance
Total 0 0
Amount due in next fiscal period is RMB.
Statement on Bills payable：
114
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
32 Account payable
（1）
Unit：RMB
Items At end of term At beginning of term
Total 3,246,981 3,239,221
（2）Account payable to shareholders holding 5% or over of the Companys shares in the report period
□Applicable √Not applicable
Statement on payable accounts due for over one year
33. Received in advance
（1）
Unit：RMB
Items At end of term At beginning of term
Total 2,775,748 2,775,476
Total 2,775,748 2,775,476
（2）Prepayment collected from shareholders holding 5% or over of the Companys shares in the report period.
□Applicable √Not applicable
The description of large-sum accounts payable with the age over 1 year:
34. Employee salary of payable
Unit: RNB
Items Book Balance in Increase in the current Decrease in the current Book Balance in
year-begin period period year-end
1.Wages, bonuses,
468,755 1,753,217 1,753,217 468,755
allowances and
subsidies
2,329 2,329
2.Employee welfare
3. Social insurance
0 60,201 60,201 0
premiums
Medical insurance 39,746 39,746
Basic old-age
15,536 15,536
insurance
115
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
premiums
Unemployment
1,290 1,290
insurance
Work injury
2,147 2,147
insurance
Maternity
1,482 1,482
insurance
IV. Public reserves
11,840 11,840
for housing
V. .Refuse welfare
VI.Other 119,136 29,858 0 148,994
Other 119,136 29,858 148,994
Total 590,220 1,855,116 1,825,258 620,078
The amounts of arrears of staff salary and welfare payable are RMB 0 00.
The amounts of trade union funds and staff education expenses are RMB35,490, the amounts of non-monetary benefits are
RMB 0.00, and the compensations for the lifting of labor relations is 0
The expected release time and amount of staff salary and welfare payable are arranged in the beginning of next year.
35. Tax Payable
Unit：RMB
Items At end of term At beginning of term
VAT 815,662 815,662
Consumption tax
Business Tax 149,489 172,225
1,204,195 1,204,195
Enterprise Income tax
Individual Income tax
City Construction tax 1,742
276,414 276,414
House property Tax
228,865 228,865
Surcharge for education
Education surtax 747
Local education surcharges 498
Land use tax 198,280
Total 2,872,905 2,700,348
Statement on tax payable: Please provide the calculating processes then taxable income is balanced between branch companies or
factories as approved by the tax bureau.
36. Interest Payable
Unit：RMB
Items At end of term At beginning of term
Long-term loans interest of installment and interest
charge
Debenture interest
Short term loan interest payable
116
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total 0 0
Statement on interest payable：
37.Dividend payable
Unit：RMB
Name At end of term At beginning of term Reason of overdue for one year
State Development & Investment
Co., Ltd
243,189 243,189 Capital tense
CITIC Group 243,189 243,189 Capital tense
Shenzhen Nanyou (Group)
121,595 121,595 Capital tense
Company
Shenye Union（Hongkong） 121,595 121,595 Capital tense
Co., Ltd.
HongKong Victor Onward 486,378 486,378 Capital tense
Total 1,215,946 1,215,946 --
Statement on interest payable：
38.Other Payable
（1） Unit：RMB
Name At end of term At beginning of term
Total 31,391,552 31,167,220
Total 31,391,552 31,167,220
（2）In the balance of other payable, there were no funds of shareholders holding 5% (including 5%) or more of the
voting right of the Company;
□Applicable √Not applicable
（3）Statement on large amount other payable accounts due for over one year
Other payables which are longer than one year mainly were the loans borrowed by Nanhuan Company the subsidiary of the company
from related companies, which have not been paid because of capital tension.
（4）Statement on large amount other payable accounts
Items Amount Age Content
Room 760 Cargo Floor（#HKS PINNERS-760） 154,892 1-2 years Property deposit
State Development & Investment Co., Ltd 3,000,000 Over 3 years Current account and interest
Jinrongyuan Company 1,100,000 Over 3 years Workshop deposit
Union Development Group 23,359,193 Over 3 years Loans
27,614,085
Total
117
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
39.Estimated liabilities
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Providing of external
guarantee
Unsettled lawsuit
Quality warranty
Reconstruction liabilities
Dismissing policy
Loss contract to be
executed
Other
Total 0 0 0 0
Statement on anticipated liabilities：
40. Non-current liabilities due within one year
（1）
Unit：RMB
Name At end of term At beginning of term
Long-term loans due in 1 year 0 0
Bond payable due in 1 year 0 0
Long-term payable due in 1 year 0 0
Total 0 0
（2）Long-term loans due in 1 year
Long-term loans due in 1 year
Unit：RMB
Name At end of term At beginning of term
Loan by pledge 0
Pledged loan
Guarantee loan
Credit loan
Total 0 0
Among the long-term loans due in 1 year, the loans overdue but extended is amounted to RMB 0.
Top 5 long-term loans due in 1 year
Unit：RMB
Year-end balance Year-beginning balance
Loans Loans ending Interest rate
Loan unit Currency Amount of Amount of Amount of Amount of
Foreign RMB Foreign RMB
starting date date (%)
currency currency
Total -- -- -- -- -- 0 -- 0
Overdue loans among the long-term loan due in 1year：
Unit：RMB
118
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Annual interest Reason for Scheduled
Loan provided by Total amount Date of mature Usage of loan
rate(%) overdue repaying date
Total 0 -- -- -- -- --
Among repaid in post-balance-sheet day.
Statement on long-term loans due in 1 year：
（3）Bonds payable due in 1 year
Unit：RMB
Interest Interest
Interest
Date of Issuing payable at Interest paid payable at End of
Bond Face value Bond term occurred
issue amount beginning this period end of balance
this period
of period period
Statement on bond payable due in 1 year：
（4）Long-term payable account due in 1 year
Unit：RMB
Loans from Term Initial amount Interest rate(%） Interest payable End balance Condition
Statement on long-term payable due in 1 year：
41.Other current liabilities
Unit：RMB
Items Year-end balance Year-Beginning balance
Sewage charges 62,600 62,600
Audit fees 1,679,889 1,433,438
Land use fees 88,000 88,000
Lawyer fees 2,400,000
Other 19,834 746
Total 4,250,323 1,584,784
Statement of other current liabilities：
42. Long-term loan
（1）Long-term loans classifications
Unit：RMB
Items Year-end balance Year-Beginning balance
Loan by pledge 1,102,961 1,160,011
Pledged loan
Guarantee loan
Credit loan
119
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total 1,102,961 1,160,011
As regards long-term loans classifications：
（2）The top five of long-term loans
Unit：RMB
Year-end balance Year-beginning balance
Loans Loans ending Interest rate
Loan unit Currency Amount of Amount of Amount of Amount of
Foreign RMB Foreign RMB
starting date date (%)
currency currency
HKD 1,352,961 1,102,961 1,430,876 1,160,011
Total -- -- -- -- -- 1,102,961 -- 1,160,011
Statement on long-term loans. For long-term loans over due but extended for another period, please provide the conditions, principal,
interest rate, and repayment arrangement.
The borrowing was the installment payment for the housing in Hong Kong bought by the subsidiary of the company Xingye
Company, the mortgage article was the house purchased. The installment payment was HKD 2,366,000 , which paid in 240 month,
As of June 30, 2012,Principal amount of HKD 1,352,961 (RMB1,102,961)
43.Bond payable
Unit：RMB
Interest Interest
Interest
Date of Issuing payable at Interest paid payable at
Bond Face value Bond term occurred End balance
issue amount beginning this period end of
this period
of period period
Statement on bonds payable, including the condition and time of converting of the convertible bonds：
44.Long-term payable
（1）Top 5 long-term payable
Unit：RMB
Name Term Initial amount Interest rate（%） Interest payable End balance Condition
The shareholders Unlimited du
before company ration 8,486,859 8,534,177
reconstruction
（2）Details of finance leasing payments in long-term payable
Unit :RMB
End of term Beginning of term
Name
Foreign currency RMB Foreign currency RMB
Total 0 0 0 0
rd
Guarantee provided by the 3 party for the leasing finance is amounted to RMB0.
Statement on long-term payables：
120
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
45.Special payable
Unit：RMB
Beginning of Increased this Decreased this
Items End of term Remarks
term term term
Total 0 0 0 0 --
Statement on special payable accounts：
46.Other Non-current liabilities
Unit：RMB
Items Year-end balance Year-beginning balance
ERP Information construction 228,216 228,216
Technology subsidies 608,576 608,576
Total 836,792 836,792
Statement on other non-current liabilities, including asset-related and income-related government subsidy and closing balances:
47. .Stock capital
Unit：RMB
Balance Increase/decrease this time (+ , - ) Balance
Issuing of new Transferred year-end
Year-beginning Bonus shares Other Subtotal
share from reserves
Total of capital
169,142,356 0 169,142,356
shares
Statement of change in capital shares. Name of CPA and number of verification report shall be provided if capital increasing or
decreasing occurred in the report period; as for shareholding limited companies incorporated for less than three years, only net assets
is required for the years prior to incorporation; for shareholding limited companies reformed from limited companies shall provide
the capital verification at incorporation.
48.Shares in stock
Statement on share in stock
49.Special reserves
Statement on special reserves
50. Capital reserves
Unit：RMB
Items Year-beginning balance Increase in the current Decrease in the Year-end balance
period current period
Share premium 29,718,829 29,718,829
Other 10,023,644 80,951 9,942,693
Other 39,742,473 0 80,951 39,661,522
121
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Statement on capital reserves：
Current increment in capital surplus came from current fair value gain of finance assets available for
sale.
51. Surplus reserve
Unit ：RMB
Items Year-beginning balance Increase in the current Decrease in the current Year-end balance
period period
Statutory surplus reserve 26,704,791 26,704,791
Optional surplus reserves
Preserved fund
Enterprise development fund
Other
Total 26,704,791 0 0 26,704,791
Statement on surplus reserves. Please state the related resolutions of the Board on capitalizing of reserves, making up losses, and
dividends：
52.Providing of common risk provisions
Statement on common risk provisions：
53. Retained profits
Unit：RMB
At end of term At beginning of term
Items Percentage of Percentage of
Amount drawing or Amount drawing or
allocation allocation
Before adjustments:
-116,026,610 -- -116,026,610 --
Retained profits at the
period end
Adjustments: Total retained
profits at the period
-- --
beginning
（+，-）
After adjustments:Retained
profits at the period -116,026,610 -- -116,026,610 --
beginning
122
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Add：Net profit belonging
to the owner of the parent -4,196,104 -- --
company
Less：Drawing statutory
surplus reserve
Drawing discretionary
surplus reserve
Drawing commonly risk
provisions
Payable dividends of
common shares
Transfer to common stock
equity dividends
Retained profits at the
-120,213,746 -- -116,026,610 --
period end
As regards the details of adjusted the beginning undistributed profits
(1)As the retroactive adjustment on Enterprise Accounting Standards and its related new regulations, the affected beginning
undistributed profits are RMB 0.00.
(2) As the change of the accounting policy, the affected beginning undistributed profits are RMB 0.00.
(3) As the correction of significant accounting error, the affected beginning undistributed profits are RMB 0.00 .
(4) As the change of consolidation scope caused by the same control, the affected beginning undistributed profits are RMB 0.00.
(5) Other adjustment of the total affected beginning undistributed profits are RMB 0.00 .
Statement on retained profit: for companies issued their securities for the first time, if the accumulated profit before the issuing is
shared by the new and existing shareholders as approved by the shareholders meeting, shall be described particularly; if the
accumulated profit before the issuing is shared only by existing shareholders as approved by the shareholders meeting, the Company
shall provide the details of dividend payable to the existing shareholders as audited by CPA.
54. Business income, Business cost
（1）Business income, Business cost
Unit： RMB
Items Amount of current period Amount of previous period
Income from Business income 5,019,787 5,528,810
Other Business income
Business cost 2,199,834 2,331,440
（2）Main business（Industry）
□Applicable√ Not applicable
（3）Main business（Production）
123
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
√Applicable □Not applicable
Unit ：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Cloth bleaching, printing and
0 0 0 0
dyeing
Rent 501 219
Total 5,019,787 2,199,834 5,528,810 2,331,440
（4）Main Business（Area）
√Applicable □Not applicable
Unit：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Shenzhen 416
HongKong 85
Total 5,019,787 2,199,834 5,528,810 2,331,440
（5）Total income and the ratio of operating income from top five clients
Unit：RMB
Name Business Income Proportion(%)
Shenzhen Nanshan Saint Laurent
252,000 5.02%
Wedding Photography
（SCSExpress International
464,698 9.26%
Limited）
CVA HOLDING 138,203 2.75%
Shenzhen Finance sources
2,820,000 56.18%
Development Co., Ltd.
Shenzhen Hebainian Investment
283,500 5.65%
Development Co., Ltd.
Total 3,958,401 78.86%
Statement on operating income
55. Contract income
□Applicable√ Not applicable
Statement on Contact Items：
56. Business taxes and surcharges
Unit：RMB
124
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Amount of current period Amount of previous
Items Project payment standard
period
Consumption tax
Business tax 141,785
City construction tax 9,925
Education surcharge 4,254
Resource tax
Local Education surcharge 2,835
Total 158,799 0 --
Statement on Business taxes and surcharges：
57.Income from fair value fluctuation
Unit：RMB
Source of income from fluctuation of fair value Occurred current term Occurred in previous term
Transactional financial assets -13,510 -48,602
Incl：Gains from fluctuation of fair value of derivate
financial instruments
Trade off financial liabilities
Investment property measured at fair value
Other 0 0
Total -13,510 -48,602
Statement on Income from fair value fluctuation：
58. Investment income
（1）Income from investment
Unit：RMB
Items Amount of current period Amount of previous period
Long-term equity investment income by costing 0 0
Long-term equity investment income by equity 417,624 -6,748,868
method
Dispose the investment income from the long-term
equity
investments
Hold the investment income which gained from the
transactional
financial assets
Gain the investment income from the
held-to-maturity investment
Hold the investment income during from
available-for-sale financial assets
Dispose the investment income from the 11,022 14,141
125
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
transactional financial assets
Dispose the investment income from the
held-to-maturity investment
Dispose the investment income from the
available-for-sale financial assets
Other
Total 428,646 -6,734,727
（2）long-term equity investment gains on cost basis
Unit ：RMB
Occurred in previous
Company Occurred current term Causation of change
term
Total 0 0 --
（3）Long-term equity investment gains on equity basis
Unit：RMB
Occurred in previous
Company invested in Occurred current term Causation of change
term
Affiliated company Hangzhou Bay has
Hangzhou Bay Company 417,624 -6,748,868
net profit RMB1,670,495
Total 417,624 -6,748,868 --
Statement on investment gains, please state whether or not there are material constrains on retrieving of investment gains.：
59. .Loss of assets impairment
Unit： RMB
Name Amount of current period Amount of previous period
1．Loss for bad debts
2．Loss for falling price of Inventory
3．Loss for devaluation of financial asset available for
sales
4．Loss for devaluation of held-to maturity investment
5．Loss for devaluation of long-term equity investment
6．Loss for devaluation of investing property
7．loss for devaluation of fixed assets
8．loss for devaluation of engineering materials
9．loss for devaluation of construction in progress
10．loss for devaluation
Of productive biological asset
11．loss for devaluation of oil asset
12．loss for devaluation of intangible asset
126
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
13．loss for devaluation of goodwill
14．other
Total 0 0
60. Non-operating income
（1）
Unit：RMB
Items Amount of current period Amount of previous period
5,174
Total income from liquidation of non-current assets
5,174
Including：Income from liquidation of fixed asset
Income of the sale of intangible assets
Debt restructuring profits
Non-monetary assets Exchange profits
Donation accepted
Government Subsidy 0 0
Other 24,389 8,413
Total 29,563 8,413
（2）Government subsidy list
Unit：RMB
Items Amount of current period Amount of previous Notes
period
Total 0 0 --
Statement on Non-operating income
61. Non-operating expenses
Unit： RMB
Items Amount of current period Amount of previous period
Total Disposal of loss of non-current assets 529
Including：Disposal of net loss of fixed assets 529
Disposal of loss of Intangibles assets
Losses from debt restructuring
Non-monetary assets exchange losses
Donation expenses 988
127
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
2,981,415
Fine expenses
600
Other expenses
Total 2,982,015 1,517
Statement on non-operational expenditures：
The company has instituted court action against below three companies at Jiangsu Province,
Related attorney fees and litigation costs.
62. .Income tax expenses
Unit ：RMB
Items Amount of current period Amount of previous period
Income tax at current period according to taxation and related
regulation
Adjustment Deferred income tax
Total 0 0
63. Calculation process of basic earnings per share and dilute earning per share
Items No Current term Same period of
last term
Net profit attributable to 1 -4,187,136 -8,232,521
shareholders of parent
company
Non-recurring gain/loss 2 -2,941,430 21,037
attributable of the parent
company
3=1-2 -1,245,706 -8,253,558
Net profit attributable to
common share holders of
the Company after
deducting of non-recurring
gain/loss
4 169,142,356 169,142,356
Total shares at the
beginning of the year
Additional share capital 5
transferred from public
reserve or additional shares
from shares dividend
distribution（Ⅰ）
Additional shares from 6
issuing new shares or
debt-converted shares（Ⅱ）
Accumulative months 7
128
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
of the additional share
commencing from the
next moth till the end of
the year
Decreased shares due to 8
repurchase
The number of months 9
since the next month of
share decreasing to the
end of report term
Amount of shares 10
reduced
Number of months in 11
the report term
Weighted average of 12=4+5+6×7÷11 169,142,356 169,142,356
common shares issued -8×9÷11-10
outside
Basic earning pershare 13=1÷12 -0.02 -0.05
（Ⅰ）
Basic earning pershare 14=3÷12 -0.01 -0.05
（Ⅰ）（Ⅱ）
Diluting potential 15
common share
interests recognized as
expenses
Transformation fees 16
Income tax rate 17 25% 24%
Amount of shares 18
increased by
transforming or
exercising of company
bond, subscription
certificate, or share
option
Diluted earning per 19=[1+(15-16)×(1-17)]÷(12+18) -0.02 -0.05
share（Ⅰ）
Diluted earning per 19=[3+(15-16)×(1-17)]÷(12+18) -0.01 -0.05
share（Ⅱ）
64. Other comprehensive income
Unit：RMB
Items Amount of current period Amount of previous period
-80,951 -215,997
1.Loss amount produced by sellable financial assets
Less：Deduct: income tax infection produced by sellable
financial assets
Net amount transferred into profit and loss at current period
that reckoned into other comprehensive income at former
129
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
period
-80,951 -215,997
Subtotal
2. The enjoyed share in other comprehensive income of other
invested unit according to equity method
Less ： Deduct: income tax infection produced from the
enjoyed share in other comprehensive income of other invested
unit according to equity method
Net amount transferred into profit and loss at current
period that reckoned into other comprehensive income at
former period
0 0
Subtotal
3.. Benefit (or loss) amount produced from cash flow
Less：Deduct: income tax infection produced from cash flow
hedging instruments
Net amount transferred into profit and loss at current period
that reckoned into other comprehensive income at former
period
Transferred to the adjustment of initial confirmation amount
of items at hedged period
0 0
Subtotal
-38,246 -3,172,304
4. Translating difference in foreign currency financial reports
Less：Deduct: net amount that transferred into profit and
loss at current period in disposed overseas business
-38,246 -3,172,304
Subtotal
5..Other
Less ： taxation infection arising from reckoning other
comprehensive income.
130
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Net amount transferred into profit and loss at current period
that reckoned into other comprehensive income at former
period
0 0
Subtotal
-119,197 -3,388,301
Total
Statement on Other comprehensive income
65.Cash flow statement Notes
（1）Cash received related to other operating activities
Unit：RMB
Items Amount
Cash received related to other operating activities 559,535
Total 559,535
Statement on Cash received related to other operating activities
（2） Cash paid related to other operating activities
Unit：RMB
Items Amount
Cash paid related to other operating activities 2,955,285
Total 2,955,285
Statement on Cash paid related to other operating activities
（3） Cash received related to other investment activities
Unit：RMB
Items Amount
Cash received related to other investment activities 0
Total 0
Statement on Cash received related to other investment activities
（4）Cash paid related to other investment activities
Unit：RMB
Items Amount
0
Cash paid related to other investment activities
Total 0
131
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Statement on Cash paid related to other investment activities
（5）Cash received related to financing activities
Unit：RMB
Items Amount
Total 0
Statement on Cash received related to financing activities
（6）Cash paid related to financing activities
Unit：RMB
Items Amount
Total 0
Statement on Cash paid related to financing activities
66. Supplement Information for cash flow statement
（1）Supplement Information for cash flow statement
Unit :RMB
Supplement Information Amount of current period Amount of previous period
-- --
I. Adjusting net profit to cash flow from operating activities
Net profit -4,187,136 -8,261,438
Add: Impairment loss provision of assets 0 0
Depreciation of fixed assets, oil and gas assets and
1,423,030 1,499,463
consumable biological assets
Amortization of intangible assets 20,152 26,234
Amortization of Long-term deferred expenses
Loss on disposal of fixed assets, intangible assets and other
-5,174 529
long-term deferred assets
Loss from Fixed assets Discard
Loss of fair value fluctuation on assets -13,510 48,602
132
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Financial cost -47,525 366,102
Loss on investment -428,646 6,734,727
Decrease of deferred income tax assets
Increased of deferred income tax liabilities -20,219
Decrease of inventories 9,735
Decease of operating receivables 350,288 -374,691
Increased of operating Payable 3,100,318 3,100,318
Other -45,808 239,673
Net cash flows arising from operating activities 165,989 815,584
II. Significant investment and financing activities that
-- --
without cash flows:
Liability transfer to capital
Convertible corporate bond due within 1 year
Finance leased fixed assets
III. Net increase of cash and cash equivalents -- --
Ending balance of cash 53,666,428 51,938,921
Less: Beginning balance of cash 53,399,316 51,786,613
Add: Ending balance of cash
Less: Beginning balance of cash equivalents
Net increase of cash and cash equivalents 267,112 152,308
（2）Information on acquiring or disposing subsidiary company and other business unit at this period.
Unit：RMB
Supplement Information Amount of current period Amount of previous period
I. Acquisition of subsidiaries and businesses -- --
1．Price to acquire subsidiaries and other businesses 0 0
2．Cash and cash equivalents paid to acquire subsidiaries or
0 0
businesses
Less：Cash and cash equivalents held by the subsidiaries
and other businesses
3．Net cash paid for acquiring of subsidiaries and other
businesses
133
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
4．Net asset of subsidiaries acquired 0 0
Current assets
Non-current assets
Current liabilities
Non-Current liabilities
II. Disposal of subsidiaries and bushiness -- --
1．Price to dispose subsidiaries and other business
2．Cash and cash equivalents received from disposal of
subsidiaries or businesses
Less：Cash and cash equivalents held by the
subsidiaries and other businesses
3．Net cash received for disposal of subsidiaries and other
businesses
4．Net asset of subsidiaries disposed 0 0
Current assets
Non-current assets
Current liabilities
Non-Current liabilities
（3）Composition of cash and cash equivalents
Unit：RMB
Items Amount of current period Amount of previous period
53,666,428 53,399,316
I. Cash
62,005 13,567
Of which: Cash in stock
52,976,207 52,631,239
Bank savings could be used at any time
628,216 754,510
Other monetary capital could be used at any time
Usable money in Central Bank
Money saved in associated financial bodies
Money from associated financial bodies
II. Cash equivalents
Of which: bond investment which will due in three months
53,666,428 53,399,316
III. Balance of cash and cash equivalents at the period end
Statement on Supplementary information of cash flow statement
67.Notes to statement of change in owners’ equity
Please state the names and adjusted amount of the items of previous year, and retrospective adjustment on merger of entities under
134
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
common control.：
（VIII）Accounting treatment of asset securitization
1 On the principal of asset securitization transactions and its accounting, bankruptcy, isolation provisions
2. The Company does not have controlled over but in fact assume the risk situation of special-purpose body
Unit：RMB
Total asset at end Total liability at Net asset at end Turnover of the Net profit of the
Name Notes
of term end of term of term period current term
(IX). Related parties and related-party transactions
1. Parent company information of the enterprise
135
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Unit：RMB
Vote right
Share ratio
ratio of
of parent
Parent Legal parent Ultimate
Related Enterprise Registratio Business Registered company Organizati
company representat company controlling
parties type n place character capital against the on code
name ive against the party
company(
company(
%)
%)
Production
11/F,Union
and sale
Controllin Bulding,
Issue ofclothing
Union g Shennan Dong 1,123,887, 19247150
company and textiles, 25.51% 25.51%
Holdings Shareholde Zhong Binggen 712 0
r and real
Road,Shen
estate
zhen
developin
Import &
export
business
Union “processing
Limited Bulding,She with
Union Actual Dong 19033795
liability nnan Zhong materials” 90,606,000 3.44% 3.44%
Group controller Bingen 7
Company Road, and
Shenzhen processing
with
imported
materials
Particulars about the parent company of the Company
2. Subsidiary companies information of the enterprise
Unit:RMB
Full name
Subsidiary Legal Share
of Enterprise Registration Business Registered Vote right Organizatio
company representati holding
subsidiary type area character capital ratio (%) n code
type ve ratios(%)
company
HongKong Controlled Limited
2,400,002(
Victor subsidiarie Liability HongKong Trade 100% 100%
HKD)
Onward s Company
Nanhua Controlled Limited Shenzhen Hu Product 85,494,700( 54.82% 54.82% 618836600
136
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Company subsidiaries Liability Yongfeng HKD)
Company
Shenzhen Limited
Controlled Sun
East Asia Liability Shenzhen Trade 3,000,000 51% 51% 799228355
subsidiaries Zhiping
Company Company
137
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
3. Joint-venture and affiliated enterprises information of the company
Unit ：RMB
Assets amount Liability Net assets Business total
Invested unit Registration Legal Business Registered Share holding vote right Net benefit at Affiliation Organization
Enterprise type at end of amount at end amount at end income at this
name Place representative character capital ratio(%) ratio(%) this period relation code
period of period of period period
I.Joint
-- -- -- -- -- -- -- -- -- -- -- -- -- --
enterprise
II. Affiliated
-- -- -- -- -- -- -- -- -- -- -- -- -- --
enterprise
Real estate
Exploiters,
Basis
Zhejiang constructio
Limited
Union Dong n USD29.90 1,458,920,7 1,165,290,4 Affiliated
Liability Hangzhou 25% 25% 293,630,307 11,671,053 1,670,495 757230553
Hangzhou Binggen Manageme million 68 61 enterprise
Company
Bay nt and
Property
Manageme
nt
138
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
4. Other Related parties information of the enterprise
Other Related parties name Relation of other Related parties with the
Organization code
company
The related parties controlled the same
Shenye Union（HK）Co., Ltd.
Actual controller
The related parties controlled the same
Shenzhen Union Property Group Co., Ltd. 192199105
Actual controller
Statement on other related parties
5. Related Transactions
（1）The providing service/sells goods
Unit： RMB
Occurred current term Occurred in previous term
Pricing and Percentag Percentag
Subjects of the related e in e in
Related parties decision making
Amount similar Amount similar
transactions
process
trades trades
（%） （%）
Sales of goods and services
Unit：RMB
Occurred current term Occurred in previous term
Pricing and Percentag Percentag
Subjects of the related e in e in
Related parties decision making
Amount similar Amount similar
transactions
process
trades trades
（%） （%）
（2）Related trusteeship or contracting
Related trusteeship or contracting in which the Company is the undertaker
Unit：RMB
Asset Amount of Nature of Gains from Influence of
Name of the Name of the Terminating Pricing
situation of the asset to the asset to Start date the deal in the gains on
employer undertaker date basis
the be be report the
139
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
undertaker undertaken undertaken period Company
Related trusteeship or outsourcing in which the Company is the employer
Unit：RMB
Asset Amount of Nature of Influence of
Amount of
Name of the Name of the situation of the asset to the asset to Pricing the payment
Start date End date payment
employer Employer the be be basis on the
recognized
Employer Employer Employer Company
Statement on the trusteeship and contracting
（3）Related leasing
The Company is the lender
Unit：RMB
Rental Influence of
Category of Description Amount of
Name of the Name of the Starting Pricing recognized the rental
asset for of the asset to be Stop date
owner tenant date basis in the on the
rent property leased
period Company
The Company is the undertaker
Unit：RMB
Rental Influence of
Category of Description Amount of
Name of the Name of the Starting Pricing recognized the rental
asset for of the asset to be Stop date
owner tenant date basis in the on the
rent property leased
period Company
Statement on related leasing
（4）Status of related party guarantee
Unit：RMB
The beneficiary
Guarantor Amount guaranteed Start date Due date Completed or not
party
Statement on related guarantees
140
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（5）Related party funds
Unit：RMB
Related parties Amount of demolition Start date Expired on Remarks
Borrow in
Lend out
（6）The information of asset transfer, debt restructured of the related parties
Unit：RMB
Pricing principle Amount in current period Amount in last period
Content of related
Related parties Type of related Proportio Proportio
transaction Amount Amount
transactions n（%） n（%）
（7）Other related transactions
6. Account receivable and payable of related parties
The account receivable of related parties of the company
Unit ：RMB
Name Related parties Year-end balance Year-beginning balance
Shenye Union（HK）
Account receivable 299,354 299,354
Co.,Ltd.
Account payable to related parties
Unit：RMB
Projects Related parties
Year-end balance Year-beginning balance
Other account payable Union Development Group 23,359,193 23,159,803
Other account payable Union Property Group 666,223 700,734
141
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
(X). Share payment
1.Overall situation of share payment
Total of equity instruments issued by the
company in the report period
Total of equity instruments exercised in the
period
Total of equity instruments invalidated in the
period
Price range of share options issued to outside
and remained term of the contract at end of
period
Price range of other equity instruments issued to
outside and remained term of the contract at
end of period
Statement on share payment
2.Share payment settled in term of equity
Unit：RMB
Recognition of fair value of equity instrument at date of grant
Recognition of best estimation on exercisable equity instruments
Cause of material difference between estimation basis of current
period and previous period
Accumulated amount of share payment on equity basis in capital
reserves
Total of expenses recognized for share payment on equity basis
Statement on share payment on equity basis
3.Share payment settled by cash
Unit：RMB
Recognition Of fair value of liabilities calculated upon shares or
other equity instruments which are undertaken by the Company
Accumulative liabilities generated by share payment settled by cash
in the liabilities
Total expenses recognized on share payment settled by cash
Statement on share payment settled by cash
142
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
4.Service paid by shares
Unit：RMB
Total of employees services paid by shares
Total of other services paid by shares
5.Revising and termination of share payment
(XI) Subsequent events
1. Liabilities formed from pending lawsuit and mediation and its financial impact
As of June 30,2012，The company has no liabilities formed from pending lawsuit and mediation.
2. For other units to provide debt guarantees, forming of contingent liabilities and the financial impact.
Other contingent liabilities and their influences：
(XII). Commitment events.
1.Importance commitment events
The external investment contracts and the related financial expenditures which have signed or not
yet completely fulfilled.
By June 30, 2012,The Group still has the major external investments RMB 30 million which have
signed but still not paid, as follows:
Name of investment Contractual Prepaid Unpaid investment Expected Remarks
projects investment investment amount investment
amount amount period
Invest Nanjing East Asia 30 million - 30 million Can not be relocated
Textile Co., Ltd with
Unsureness because the fields
machinery and equipments
uncompleted
The big contract which has been signed or is ready to be carried out
By June 30, 2012, The Group still has big contract which has been signed but not paid, a total of RMB 1.71 million, as
follows:
Name of Contractual Prepaid Unpaid Expected investment Remarks
investment projects investment amount investment investment period
amount amount
Elocation of 1,710,000 855,000 855,000 Can not be relocated
production Unsureness
because the fields
143
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
equipments as a uncompleted
whole
Except for the events described above, By June 30, 2012, the Group has no other significant commitment events.
2. Information guaranteed at the former period.
The company has no commitment information guaranteed at the former period.
(XIII). Post-balance-sheet events
1. Statement on material post-balance-sheet events
Unit： RMB
Influence on the financial
Reason for not able to estimate
Items Contents position and business
the influence
performance
2.Statement on profit distribution in post balance sheet period
Unit：RMB
Proposed profit or dividend
Approved and announced profit or dividend
3.Statement on other issues in post balance sheet period
There is no disclosure of the Post-balance-sheet of the Company.
(XIV). Other Important events
1. Non-monetary asset exchange
2. Liabilities recombination
3. Enterprise consolidation.
4. Leasing
144
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Category of property for rent Year-end balance Year-beginning balance
Cost 97,020,311 96,912,003
House, Building 97,020,311 96,912,003
Accumulated amortization 64,169,345 62,538,552
House, Building 64,169,345 62,538,552
Impairment provision
House, Building
The book value 32,850,966 34,373,451
House, Building 32,850,966 34,373,451
5. Financial instruments issued outside and can be transferred to stock at end period.
6. Annuity Plan content and significant changes
7. Other important disclosure matters
1. .Items related to measurement of fair value.
Item Amount at the Provision for Amount at the
Gains and losses Accumulative
beginning of impairment end of period
from change of change of fair
period made in current
fair value in value accounted
period
current period for as rights and
interests
Financial assets
Financial assets calculated 68,900 -13,510 55,390
according to fair value whose
change is accounted for as profits
or losses for current period
Trading financial assets
703,055 -77,031 626,024
Subtotal of financial assets 771,955 -13,510 -77,031 681,414
Foreign financial assets and foreign financial liability
Item Amount at the Provision for Amount at the
Gains and losses Accumulative
beginning of impairment end of period
from change of change of fair
period made in current
fair value in value accounted
period
current period for as rights and
145
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
interests
Financial assets
Trading financial assets
703,055 -77,031 626,024
Subtotal of financial assets 703,055 -77,031 626,024
2. Other Significant Events
Since March 2007, Shenzhen Victor Onward Textile Industrial Co., Ltd. stopped production
and dismissed most of workers. The company currently only had some house leasing business.
5 Subsidiaries controlled by the company had stopped the operation and were depending on house
lease to maintain. The company has instituted court action against below three companies at
Jiangsu Province Higher People's Court, and asked to terminate the contracts and agreements signed
with Nanjing East Asia Textile Printing & Dyeing Co., Ltd., Nanjing East Asia Investment &
Development Group Limited and Hong Kong Yiuchun Limited, who shall pay RMB47,922,902.92
to the company for the pecuniary loss of implicative compensation and undertake the costs of
litigation. The company has received the Su-Shang-Wai-Chu-Zi No.0002 (2012) of “Notice on
Indictment Acceptance and Collegial Panel Announcement” issued by Jiangsu Province Higher
People's Court on June 14, 2012.
(XV).Notes s of main items in financial reports of parent company
1.Account receivable
（1）Account receivable
Unit：RMB
Year-end balance Year-beginning balance
Book Balance Provision for bad debts Book Balance Provision for bad debts
Type
Propo
rtion Proporti Proporti Proporti
Amount % Amount on% Amount on% Amount on%
Account receivable
with significant
specific amount that 27.79
3,503,464 3,503,464 100% 3,503,464 27.79% 3,503,464 100%
were provisioned had %
debt preparation
separately
Receivables provided bad debt provision in groups
146
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Subtotal of group 0 0% 0 0 0% 0
Account receivable with
minor individual amount 63.25
7,974,647 7,974,647 100% 7,974,647 63.25% 7,974,647 100%
but bad debt provision is %
provided
Total 11,478,111 -- 11,478,111 -- 11,478,111 -- 11,478,111 --
Remarks on categories of receivable accounts：
Receivable accounts with large amount individually and bad debt provisions were provided
√Applicable □ Not applicable
Unit：RMB
Description of receivable accounts Book balance Bad debt provision Proportion Reason
Carnival Index International Ltd 1,098,549 1,098,549 100% Aging long
TAI YANG ENTERPRISE CO.,LTD. 1,010,047 1,010,047 100% Aging long
The company insol
Shenzhong Company 1,394,868 1,394,868 100% vent, to be cance
led
Total 3,503,464 3,503,464 -- --
Using age methods to provision for bad debts of account receivable in group：
□Applicable √not Applicable
Using percentage balance method of provision for bad debts of account receivable in group：
□Applicable √not Applicable
Using other methods to provision for bad debts of account receivable in group：
□Applicable √not Applicable
Receivable accounts with minor amount but on which bad debt provisions are provided individually at end of period
√Applicable □not Applicable
Unit： RMB
Name Book balance Bad debts Provision proportion% Reason of provision
Fly Dragon International 573,536 573,536 100% Aging long
Grateful Textiles Co.,Ltd 566,661 566,661 100% Aging long
World Fabrica (Int'l) Ltd 465,126 465,126 100% Aging long
Shenzhen Fangzhou Aging long
446,352 446,352 100%
Textile Co., Ltd.
Ezhou Xiangya Aging long
351,500 351,500 100%
Garments Co., Ltd.
Tak Shing Buying Office Aging long
333,502 333,502 100%
Led
147
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Starline Textile Co.Ltd. 332,234 332,234 100% Aging long
Shenye Union（HK） Aging long
299,354 299,354 100%
Co.,Ltd.
Panther Fabric Ltd. 295,088 295,088 100% Aging long
Changshu Jiangsu Aging long
Garments Import & 270,134 270,134 100%
Export Co., Ltd.
Victor Onward Aging long
245,560 245,560 100%
Textile(HK)Co., Ltd.
Nissho Iwai HK Corp Aging long
215,229 215,229 100%
Ltd.
Unimix Ltd. 192,891 192,891 100% Aging long
Tai Hing Linings Co Ltd 191,295 191,295 100% Aging long
Human Changpuan Aging long
185,981 185,981 100%
Garment
Ningbo Youngor Aging long
Fukurmura Uniforms 172,910 172,910 100%
Co., Ltd.
Win favour evelopment Aging long
146,600 146,600 100%
ltd
Speedy Textiles Co 146,502 146,502 100% Aging long
Other 2,544,192 2,544,192 100% Aging long
Total 7,974,647 7,974,647 100% --
（2）Switch back or regain of the account receivable in the reporting period
Unit：RMB
Bad debt provision
Description of the receivable Reason to write back Basis of original bad Amount written back or
provided before writing
accounts or retrieve debt provision retrieved
back or retrieving
Total -- -- 0 --
Receivable account with large amount, or minor amount but on which bad debt provisions are provided individually at end of period：
Description of the
Book balance Amount of bad debt Providing rate（%） Reason
receivable accounts
Total -- --
Remarks on receivable accounts with minor single amount but with greater risks after combining with accounts with similar risks:
148
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
（3）Receivable accounts actually written off in the report period
Unit：RMB
Property of the Reason of writing Occurred under
Name Date of written off Amount written off
receivable account off related relationship
Total -- -- 0 -- --
Statement on writing off of receivable accounts：
（4）Particulars about the receivable accounts due from shareholders with 5% or over of the Companys shares in the report period
□Applicable√ Not applicable
（5）Natures or contents of receivable accounts with large amount
（6） The front 5 units information of the account receivable
Unit：RMB
Relation with the Portion in total other
Name Amount Ages
Company receivables (%)
Carnival Index
Non-related parties 1,098,549 Over 3 years 9.57%
International Ltd
TAI YANG
Non-related parties 1,010,047 Over 3 years 8.8%
ENTERPRISE CO.,LTD.
Shengzhong Company Subsidiary 1,394,868 Over 3 years 12.15%
Fly Dragon International Non-related parties 573,536 Over 3 years 5%
Grateful Textiles Co.,Ltd Non-related parties 566,661 Over 3 years 4.94%
Total -- 4,643,661 -- 40.46%
（7）Account receivable from Related affiliated parties
Unit ：RMB
Unit name Relation with the company Amount Percentage of account receivable
Shengzhong Company Subsidiary 1,394,868 12.15%
Shenzhen East Asia Subsidiary 51,871 0.45%
The related parties controlled
Shenye Union（HK）Co., Ltd. 299,354 2.61%
the same Actual controller
149
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Total -- 1,746,093 15.21%
（8）Account receivable that is not accord with expiration confirmation condition
（9）Account receivables subject to asset securitization , needed to briefly describe the arrangements related to
transactions.
2.Other receivable
（1）Other receivable
Unit：RMB
Year-end balance Year-beginning
Provision for bad
Book balance Provision for bad debts Book balance
debts
Classification
Propo Propo Propo Propo
Amount rtion( Amount rtion( Amount rtion( Amount rtion(
%) %) %) %)
Other Receivables with
major individual amount and 98.69
76,582,183 3,881,910 100% 76,582,183 98.4% 3,881,910 100%
bad debt provision provided %
individually
Other Receivables provided bad debt provision in groups
Deposit group 67,488 0.09% 298,760 0.38%
Subtotal of group 67,488 0.09% 0 298,760 0.38% 0
Other Account receivable
with minor individual
949,941 1.22% 949,941 100% 949,941 1.22% 949,941 100%
amount but bad debt
provision is provided
Total 77,599,612 -- 4,831,851 -- 77,830,884 -- 4,831,851 --
Statement on Other receivable:
Other Receivable accounts with large amount individually and bad debt provisions were provided
√Applicable □not Applicable
Unit：RMB
Description of other
Book balance Bad debt provision Proportion Reason
receivable accounts
Victor Onward
59,700,273
Textile(HK)Co., Ltd.
150
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Nanhua Company 13,000,000
Nanjing East Asia 1,313,370 1,313,370 100% Aging long
CCB.Guangdong Shunde Aging long
1,080,000 1,080,000 100%
branch
Changzhou Aging long
Dongfeng Textile
975,000 975,000 100%
Printing & dyeing
Equipment Co., Ltd.
The company insolvent,
Shenzhen East Asia 513,540 513,540 100%
to be canceled
Total 76,582,183 3,881,910 -- --
Using age methods to provision for bad debts of other account receivable in group：
□Applicable √not Applicable
Using percentage balance method of provision for bad debts of account receivable in group：
□Applicable √not Applicable
Using other methods to provision for bad debts of account receivable in group：
□Applicable √not Applicable
Receivable accounts with minor amount but on which bad debt provisions are provided individually at end of period
√Applicable □not Applicable
Unit：RMB
Name Book balance Bad debts Provision proportion% Reason of provision
Victor Onward
693,951 693,951 100% Aging long
Textile(HK)Co., Ltd.
Shanghai Huayinke
Trade Industry Co., Ltd. 180,000 180,000 100% Aging long
Shenzhen Environmental
Management System 35,000 35,000 100% Aging long
Certification Center
Shenzhen Design
Institute of Ministry of
30,000 30,000 100% Aging long
Machinery Industry
Shanghai Branch
Other 10,990 10,990 100% Aging long
Total 949,941 949,941 100% --
（2）Switch back or regain of the other account receivable in the reporting period
Unit ：RMB
151
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Bad debt provision
Description of the Other Reason to write back Basis of original bad Amount written back or
provided before writing
receivable accounts or retrieve debt provision retrieved
back or retrieving
Total -- -- 0 --
Other Receivable account with large amount, or minor amount but on which bad debt provisions are provided individually at end of
period：
Description of the
Book balance Amount of bad debt Providing rate（%） Reason
receivable accounts
Total 0 0 -- --
Remarks on receivable accounts with minor single amount but with greater risks after combining with accounts with similar risks:
（3）Other receivable accounts actually written off in the report period
Unit：RMB
Property of the Reason of writing Occurred under related
Name Date of written off Amount written off
receivable account off relationship
Total -- -- 0 -- --
Statement on writing off of other receivable accounts：
（4）Particulars about the other receivable accounts due from shareholders with 5% or over of the Companys shares in the report
period
□Applicable√ Not applicable
（5）Natures or contents of other receivable accounts with large amount
（6） The front 5 units information of other account receivable
Unit：RMB
Relation with the Portion in total other
Name Amount Ages
Company receivables (%)
Victor Onward Subsidiary
59,700,273 Over 3 years 76.93%
Textile(HK)Co., Ltd.
Nanhua Company Subsidiary 13,000,000 Over 3 years 16.75%
152
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Nanjing East Asia Non-Related parties 1,313,370 Over 3 years 1.69%
CCB.Guangdong Shunde
Non-Related parties 1,080,000 Over 3 years 1.39%
Branch
Changzhou Dongfeng
Textile Printing & dyeing Non-Related parties 975,000 Over 3 years 1.26%
Equipment Co., Ltd.
Total -- 76,068,643 -- 98.03%
（7）Other Account receivable from Related affiliated parties
Unit：RMB
Unit name Relation with the company Amount Percentage of account receivable
Victor Onward
Subsidiary 59,700,273 76.93%
Textile(HK)Co., Ltd.
Nanhua Company Subsidiary 13,000,000 16.75%
Shenzhen East Asia Subsidiary 513,540 0.66%
Total -- 73,213,813 94.35%
（8）Account receivable that is not accord with expiration confirmation condition
（9）Account receivables subject to asset securitization , needed to briefly describe the arrangements related to
transactions.
3. .Long –term stocks equity investment
Unit：RMB
Explanation
of
diffidence
Shareholdin between
Voting right
Initial g shareholdin
Accounting Original Ending proportion Current Cash
Name investment change proportion g Devalue
method balance Balance in the devalue bonus
cost in the proportion
investee
investee and voting
right
proportion
in investee
Victor
Cost 21,214,21 21,214,21
Onward 2,411,282 100% 100% 0 0 0
method 2 2
Textile(H
153
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
K)Co.,
Ltd.
Nanhua Cost 23,082,83 15,574,74 15,574,74
54.82% 54.82% 0 0 0
Company method 1 1 1
Shenzhen Cost
1,530,000 1,252,900 1,252,900 51% 51% 1,252,900 0 0
East Asia method
27,024,11 38,041,85 38,041,85
Total -- 0 -- -- -- 1,252,900 0 0
3 3 3
Statement on Long-term equity investment
4. Business income, Business cost
（1）Business income, Business cost
Unit：RMB
Items Amount of current period Amount of previous period
741,567 725,313
Income from Business income
Other Business income
Business cost 239,378 239,549
Total
（2）Main business（Industry）
Unit：RMB
□Applicable√ Not applicable
（3）Main business（Production）
√Applicable□not Applicable
Unit：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Rental income 741,567 239,378 725,313 239,549
Total 741,567 239,378 725,313 239,549
154
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（4）Main Business（Area）
□Applicable√ Not applicable
（5）Total income and the ratio of operating income from top five clients
Unit：RMB
Name Business Income Proportion(%)
Shenzhen Nanshan Saint Laurent Wedding Photography 252,000 33.98%
Jishunda Automobile drier training Company 72,000 9.71%
Chen Shen 45,000 6.07%
Shenzhen Taihe Mechanical & electrical equipment Co., ltd. 31,200 4.21%
Di Weini 19,200 2.59%
Total 419,400 56.56%
Statement on revenue
5. Investment income
（1）Income from investment
Unit：RMB
Items Amount of current period Amount of previous period
Income from long-term equity investment measured by
0 0
adopting the cost method
Income from long-term equity investment measured by
0 0
adopting the Equity method
Income from disposal of long-term equity investment
hold the investment income which gained from the
transactional financial assets
Gain the investment income from the held-to-maturity
investment
Hold the investment income during from
available-for-sale financial assets
Dispose the investment income from the transactional
11,022 14,141
financial assets
Dispose the investment income from the held-to-maturity
155
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
investment
Dispose the investment income from the available-for-sale
financial assets
Other
Total 11,022 14,141
（2）Long term equity investment calculated to cost method：
Unit：RMB
Name Amount of current Amount of previous Change cause
period period
Total 0 0 --
（3）Long term equity investment calculated via equity method
Unit ：RMB
Name Amount of current Amount of previous Change cause
period period
Total 0 0 --
Statement on Investment income：
6. Supplement information of Consolidated Flow Statement
Unit：RMB
Items Amount of current
Amount of previous period
period
1. Adjusting net profit to net cash flow in operating activities: -- --
Net profit -4,745,041 -961,674
Add： Provision for impairment of assets
Fixed assets depreciation 168,586 175,818
156
深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Amortization of intangible assets 20,152 26,234
Amortization of long-term expenses to be amortize
The losses on the disposal of fixed assets, intangible assets and other
-5,174 529
long-term assets
Loss on retirement of fixed assets
Loss on changes of Fair value 13,510 48,602
Financial expenses -633,443 -1,289,755
Investment losses -11,022 -14,141
Decrease of deferred income tax asset
Increase of deferred income tax liability
Decrease in inventory 9,734
Decrease in operating receivable 231,272 1,328,801
Increase in operating payables 2,458,441 34,852
Other 622,625 -887,307
Net cash flows from operating activities -1,880,095 -1,528,307
2.Investing and financing activities that do not involve cash receipts
-- --
and payments
Conversion of debt into capital
Convertible bonds to be expired within one year
Fixed assets under financial lease
3.Net increase in cash and cash equivalents -- --
Cash at the end of the period 19,654,909 22,061,774
Less：Cash at the beginning of the period 21,483,163 23,577,186
Add: Cash equivalents at the end of the period
Less：Cash equivalents at the beginning of the period
Net increase in cash and cash equivalents -1,828,254 -1,515,412
7. Reversal purchase of the assess under assessed value, liabilities information
Unit：RMB
Description of the asset or liabilities booked at evaluated Appraised value Original book value
Assets
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
Liabilities
（16）Supplement information
1. Return on net assets and earnings per share
Unit：RMB
Earnings per share（RMB）
Return on net assets .
Profit of the report period
Weighted（%）
Basic earnings per share Diluted gains per share
Net profit attributable to the Common stock
-3.58% -0.02 -0.02
shareholders of Company.
Net profit attributable to the Common stock
shareholders of Company after deducting of -1.09% -0.01 -0.01
non-recurring gain/loss.
2. The explanation of abnormal circumstance and reasons of items in major accounting statement.
⑴Interest receivable 100% lower than the early period, mainly due to recover of the initial interest of last term in
this term;
⑵The other account receivables 74.89% lower than the beginning, mainly due to recover other payments this
term;
⑶Other current liabilities 168.2% lower than beginning of period，Mainly due to withhold legal fees this term；
⑷Financial expenses decreased by 112.98% year on year，mainly due to the exchanges gains and losses influence;
⑸Gains from change of fair value by decreased 72.20% year on year，Mainly due to the A stock market
fluctuations;
⑹ Investment income by decreased 106.36% year on year ， Mainly due to the joint venture
Hangzhou Bay Ventures Co., Ltd performed differences over year on year;
⑺Non-business income Increased by 251.40% year on year，Mainly due to the tenants cease rental contract;
⑻Non-business expenses increased by 196473.17% year on year，Mainly due to the litigation impact of Nanjing
joint venture project;
⑼Other comprehensive income decreased by 96.48% year on year，；Mainly due to the exchange rate effect;
⑽Cash paid for purchasing of merchandise and services decreased by 100% year on year，Mainly due to
reclassification affect the period taken into account cash payments relating to other business activities;
⑾Other cash paid for business activities Increased by 56.31%，Mainly due to reclassification affect the period
taken into account cash payments relating to other business activities.
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深圳中冠纺织印染股份有限公司 2012 年半年度报告全文
XIII．Documents Available for Inspection
Documents available for inspection
1. The semi-annual report 2012;
2Accounting statements with signatures and seals of the legal representative and financial principal and chief of accounting dept.;
3. Originals of all documents and manuscripts of public Notices of the Company Disclosed in public in the newspapers as
designated by China Securities Regulatory Commission;
4. The articles of Association.
Chairman of The Board :Hu Yongfeng
Date of submitting approved by the Board：August 14, 2012
Revising record
Date of correction or supplementary Contents of correction or supplementary
Version No.
disclosure disclosure
159