Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2018
Stock code: 000018 ，200018 Stock ID : Sino Great Wall ，Sino B Announcement No. 2018-103
Summary of 2018 Annual Report of Sino Great Wall Co., Ltd.
I. Important notes
The summary is abstract from full-text of summary of the semi-annual report, for more details information ,
investors should found in the full-text of summary of the semi-annual report that published on website of
Shenzhen Stock Exchange and other website appointed by CSRC.
Non-standard auditor’s opinion
□ Applicable √Not applicable
Preliminary plan for profit distribution to the common shareholders or turning the capital reserve into the share
capital for the reporting period, which has been reviewed and approved at the board meeting
□ Applicable √Not applicable
The Company has no plan of cash dividends carried out, bonus issued and capitalizing of common reserves either.
Preliminary plan for profit distribution to the preference shareholders for the reporting period which has been
reviewed and approved at the board meeting
□ Applicable √Not applicable
II. Basic information about the company
1. Company profile
Stock ID Sino Great Wall ，Sino-B Stock code: 000018 200018
Stock exchange Shenzhen Stock Exchange
Contact person and contact manner Board secretary Securities affairs Representative
Name Yang Chunling
Sino Great Wall Building, No.3 Jinxiu
Contact address Street, Economic Technology
Development Zone , Beijing
Tel 010-89045855
Email. 1208806865@qq.com
2. Major accounting data and financial indicators
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
□ Yes √No
Reporting period Same period of last year YoY+/-（%）
Operating income（RMB） 1,586,971,575.24 3,025,082,356.80 -47.54%
Net profit attributable to the shareholders
143,999,455.72 268,606,450.03 -46.39%
of the listed company（RMB）
Net profit after deducting of
non-recurring gain/loss attributable to
the shareholders of listed company -33,506,685.35 264,902,836.16 -112.65%
（RMB）
Cash flow generated by business
1,098,164,365.63 -535,997,580.19 304.88%
operation, net（RMB）
Basic earning per share(RMB/Share) 0.0848 0.16 -47.00%
Diluted gains per
0.0848 0.16 -47.00%
share(RMB/Share)(RMB/Share)
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Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2018
Weighted average ROE(%) 6.61% 14.39% -7.78%
As at the end of the
As at the end of last year YoY+/-（%）
reporting period
Gross assets (RMB) 11,025,565,646.45 11,667,845,186.30 -5.50%
Net assets attributable to shareholders of
2,205,590,520.66 2,151,482,467.52 2.51%
the listed company （RMB）
3.Shareholders and shareholding
In Shares
Number of shareholders of
Total Number of common
preferred stocks of which
shareholders at the end of the 73,328 0
voting rights recovered in
reporting period
the report period(If any)
Shareholdings of Top 10 shareholders
Number of Number of share
Shareholders Proportion Amount of restricted shares pledged/frozen
Nature of shares held
of shares
shareholder at period State of
held（%） held Amount
-end share
Domestic
Chen Lue Natural 34.36% 583,454,556 581,340,196 Pledge 583,454,556
person
STYLE-SUC
Foreign legal
CESS 5.47% 92,970,910 0
person
LIMITED
Domestic
Union
Non-
Holdings Co., 5.18% 87,935,921 0
State-owned
Ltd.
legal person
Domestic
He Feiyan Natural 3.23% 54,800,458 54,800,458 Pledge 54,000,000
person
Jiutai Fund－
Bank of
Communicati
ons － Jiutai
Huitong No.2 Other 2.50% 42,479,672 42,479,672
specific
customer
asset
management
plan
Rich Crown
Foreign legal
Investment 1.37% 23,235,313 0
person
Co., Ltd.
Qinghai Heyi Domestic
Industry Non-
0.79% 13,357,084 0 Pledge 13,357,000
Development State-owned
Co., Ltd. legal person
Domestic
Zhang Xubao Natural 0.65% 11,015,100 0
person
Domestic
Huang
Natural 0.59% 10,000,000 0
Huaian
person
Song Domestic 0.50% 8,575,981 0
Wenguang Natural
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Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2018
person
The largest shareholder of Mr. Chen Lue and the Fourth largest shareholder of Ms. He Feiyan
Explanation on associated aforesaid are persons acting in concernp; The controlling shareholder of the above-mentioned
relationship among the third shareholder Shenzhen Union Holdings Co.,Ltd. And Sixth shareholder Rich Crown
aforesaid shareholders Investment Co., Ltd.. Is Union Development Group Ltd. whether the other shareholders have
associated relations are unknown.
Notes to the shareholders
involved in financing securities Nil
(if any)
4. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□ Applicable √ Not Applicable
There was no any change of the controlling shareholder of the Company in the reporting period.
Change of the actual controller in the reporting period
□ Applicable √ Not applicable
There was no any change of the actual controller of the Company in the reporting period.
5.Number of preference shareholders and shareholdings of top 10 of them
□ Applicable √ Not applicable
No preference shareholders in the reporting period
6.Corporate bonds
Are there any corporate bonds publicly offered and listed on the stock exchange, which were undue before the
approval date of this report or were due but could not be redeemed in full?
No
III. Performance discussion & analysis
1．Performance Review for Reporting period
Is the company subject to any disclosure requirements for special industries?
Yes
Civil Engineering Construction
In the first half of 2018, the company has continued to adhere to the values of “integrity, professionalism,
perfection and honor”, paying close attention to the policies and related developments of “the Belt and Road
Initiative”, PPP business and construction medical industry, in order to adapt to the economic development
situation by actively expanding overseas project contracting and investment business brought by “the Belt and
Road Initiative” and increasing the investment and construction of PPP projects in medical industry and
infrastructure, which has achieved good results.
In terms of engineering construction, the company has achieved relatively sound and rapid development at home
and abroad. In terms of overseas business, the company has signed important construction contracts with a
number of countries and regions in Southeast Asia, winning the bids for development project of Dongphosy
Special Economic Zone in Vientiane, Laos and Mekong Villa project in Cambodian, which helps the company
expand the types and scope of domestic and international project contracting business and enhance the company’s
competitive advantage and overall profitability in order to become a “provider for integrated solution in building
construction”. The company’s domestic business covers various fields such as medical treatment, municipal
construction, transportation and infrastructure. For example, the company has won the PPP project of ecological
water system and road network for new district in Yanjin County. As of the end of June 2018, the company has
obtained domestic and international orders exceeding 40 billion yuan, ensuring a steady growth in the company’s
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Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2018
operating performance in the next few years.
In the investment and management in the medical and health industry, the company has acquired 100% of equity
of Acura Kliniken Baden-Baden GmbH, Germany for 14.1 million euros. The Acura Kliniken Baden-Baden GmbH is a
long-established specialized hospital in Germany with a high reputation in medical rehabilitation. The acquired
hospital is used to introduce senior medical talents, technology and management experience owned by Germany,
and integrate Chinese and foreign resources to achieve the company’s development in the field of medical
rehabilitation.
In other respects, in order to actively grasp the important historical opportunity and business chance to build
Xiong’an New District into a city of “green wisdom” and “Xiong’an quality” proposed by the Party Central
Committee, the company’s wholly-owned subsidiary Sino Great Wall International invested RMB 100 million to
establish a wholly-owned subsidiary, Sino Great Wall Hebei Xiong’an Engineering Co., Ltd., in Xiong’an New
District, and Xiong’an Engineering officially obtained a business license on February 24, 2018. In order to carry
out business effectively in Xiong’an New District, the company leased its office in Xiong’an New District and
planned to arrange the subsidiaries with relevant construction qualifications to merge with Xiong’an Company, so
that Xiong’an Company quickly obtained construction qualification to smoothly obtain orders.
In January-June 2018, the company realized operation income of 1,586,971,575.24 yuan , an decrease
of 47.54% from the last year; and the net profit attributable to the parent company was 143,999,455.72 yuan, an
decrease of 46.39% from the last year. The decrease in the above data was Mainly due to the country's credit
tightening, the funding is tight and the project is progressing slowly.
2.Maters related to financial report
(1) Reason for changes in accounting policies, accounting estimates and accounting methods as compared to the
financial report for the prior year
√ Applicable □ Not applicable
I. Overview of changes in the accounting policy
1. Reasons for the change in the accounting policy
On May 10, 2017, the Ministry of Finance issued the "Accounting Standards for Business Enterprises No. 16
- Government Grants (Revised in 2017)" (Accounting [2017] No. 15), which was effective on June 12, 2017, and
required that the prospective approach shall be used on the government grants existed on 1 January 2017 and the
adjustments shall be made according to the revised standards for the newly-increased government grants occurred
during the period from January 1, 2017 to the afore-said effective date.
On December 25, 2017, the Ministry of Finance issued the “Notice on Issuance of the Revised Format of
Financial Statements for General Enterprises” (Accounting [2017] No. 30), requiring the enterprises that
implement the corporate accounting standards shall prepare the financial statement of 2017 and the years after
2017 according to the Accounting Standards for Business Enterprises and the requirements of the afore-said
notice.
2. The Accounting Policy adopted by the company before the change
The accounting treatment of government grants prior to this change was implemented according to the
“Accounting Standards for Business Enterprises No. 16-Government Grants" in the “Notice of the Ministry of
Finance of 38 Specific Standards Such as "Accounting Standards for Business Enterprises No. 1-Inventory" issued
by the Ministry of Finance on February 15, 2006 (Accounting [2006] No.3.).
3. The Accounting policy adopted by the Company after the change
The company will implement the “Accounting Standards for Business Enterprises No. 16 – Government
Grants (Revised in 2017)” (Accounting [2017] No. 15): the government grants related to daily activities occurred
after January 1, 2017 will be included into the other income; and the government grants not related to daily
activities will be included into the non-operating income and expenditure.
The company will prepare the financial statement for 2017 and the years after 2017 in accordance with the
“Notice on Issuance of the Revised Format of Financial Statements for General Enterprises” (Accounting [2017]
No. 30) by Minister of Finance. Except the above change in the accounting policy, the rest will be still
implemented in accordance with the "Enterprise Accounting Standards - Basic Standards" previously promulgated
by the Ministry of Finance and the various specific accounting standards, application guidelines for business
accounting standards, corporate accounting standards interpretation announcements and other relevant regulations.
4. The date of the Change
The company implements the revised accounting policy from the start date specified in such document.
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Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2018
II. The impact of this accounting policy change on the Company
The implementation of “Accounting Standards for Business Enterprises No. 16 – Government Grants
(Revised in 2017) only involves the adjustments in Gains and Losses subjects, which does not affect the current
Gains and Losses nor involve the retrospective adjustments in previous years.
It will prepare the financial statement for 2017 and the years after 2017 in accordance with the “Notice on
Issuance of the Revised Format of Financial Statements for General Enterprises by Minister of Finance”
(Accounting [2017] No. 30).
(2) Reason for retrospective restatement to correct major accounting errors during the reporting period
□ Applicable √ Not applicable
No such cases.
(3) Reason for changes in scope of the consolidated financial statements as compared to the financial report for
the prior year
□ Applicable √ Not applicable
No such cases.
Legal representative: Chen Lue
Sino Great Wall Co., Ltd.
August 31,2018
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