深圳市特力(集团)股份有限公司 2014 年半年度报告全文
SHENZHEN TELLUS HOLDING CO., LTD
SEMI-ANNUAL REPORT 2014
August 2014
1
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section I. Important Notice, Contents and Paraphrase
Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of Shenzhen Tellus Holding Co., Ltd. (hereinafter referred to as the
Company) hereby confirm that there are no any fictitious statements, misleading
statements, or important omissions carried in this report, and shall take all
responsibilities, individual and/or joint, for the reality, accuracy and completion
of the whole contents.
All directors are attended the Board Meeting for report deliberation.
The Company has no plans of cash dividend distributed, no bonus shares and
has no share converted from capital reserve either.
Lv Hang, principal of the Company, Luo Bojun, person in charger of accounting
works ，CFO FuBin and Ke Wensheng, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of Semi-Annual
Report 2014 is authentic, accurate and complete.
Concerning the future planning involved in the Report, they do not constitute a
substantial commitment for investors. Investors are advised to exercise caution
of investment risks.
2
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Content
Semi-Annual Report 2014 ................................................................................................................. 1
Section I Important Notice, Contents and Paraphrase .................................................................. 2
Section II Company Profile ............................................................................................................... 5
Section III Accounting data and summary of finnaical indexes .................................................... 7
Section IV Report of the Board of Directors ................................................................................... 9
Section V Important Events ............................................................................................................ 18
Section VI Changes in shares and particular about shareholders............................................... 25
Section VII Preferred Stock…………………………………………………………………….…29
Section VIII Directors, Supervisors and Senior Executives ....................................................... 30
Section IX Financial Report ............................................................................................................ 31
Section X Documents Available for Reference ........................................................................... 146
3
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Paraphrase
Items Refers to Definition
CSRC Refers to China Securities Regulatory Commission
SZ Exchange Refers to Shenzhen Stock Exchange
Shenzhen Branch of China Securities Depository & Clearing
Shenzhen Branch of SD&C Refers to
Corporation Limited
Company, the Company, our Company, Tellus
Refers to Shenzhen Tellus Holding Co., Ltd.
Group
Reporting period, Current Period, the Year Refers to 1 January 2014 to 30 June 2014
SDG Refers to Shenzhen SDG Co., Ltd.
Auto Industrial and Trading Company Refers to Shenzhen Auto Industry and Trade Corporation
4
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section II Company profile
I. Company Profile
Short form for share Tellus-A, Tellus-B Code for share 000025, 200025
Listing stock exchange Shenzhen Stock Exchange
Chinese name of the Company 深圳市特力(集团)股份有限公司
Abbr. of Chinese name of the
深特力
Company(if applicable)
English name of the
ShenZhen Tellus Holding Co.,Ltd
Company(if applicable)
Legal Representative Lv Hang
II. Contact person and ways
Secretary of the Board Rep. of securities affairs
Lv Hang (function in an acting capacity of
Name Sun Bolun
Secretary of the Board)
15/F, Zhonghe Building, Shennan Middle 15/F, Zhonghe Building, Shennan Middle
Contact adds.
Road, Futian District, Shenzhen Road, Futian District, Shenzhen
Tel. (0755) 83989335 (0755) 83989339
Fax. (0755) 83989386 (0755) 83989386
E-mail ir@tellus.cn s9239243@163.com
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found more details in Annual Report 2013.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation
5
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
place for semi-annual report have no change in reporting period, found more details in Annual Report 2013.
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of taxation registration and
organization code have no change in reporting period, found more details in Annual Report 2013.
6
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
Increase/decrease in this
Current period Same period of last year
report y-o-y (%)
Operating revenue (RMB) 228,692,541.86 222,087,318.26 2.97%
Net profit attributable to shareholders of
5,380,420.81 3,746,434.89 43.61%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 5,215,240.02 -3,413,773.73
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-4,185,311.96 36,298,462.37 -111.53%
activities(RMB)
Basic earnings per share (RMB/Share) 0.0244 0.0170 43.53%
Diluted earnings per share (RMB/Share) 0.0244 0.0170 43.53%
Weighted average ROE (%) 2.77% 2.01% 0.76%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end (%)
Total assets (RMB) 741,757,937.15 700,998,151.85 5.81%
Net assets attributable to shareholder of
196,666,117.09 191,351,957.28 2.78%
listed company(RMB)
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
7
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
The Company has no difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) in reporting period
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company has no difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and
Chinese GAAP (Generally Accepted Accounting Principles) in reporting period
III. Items and amounts of extraordinary profit (gains)/loss
√Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
172,812.80
write-off that accrued for impairment of assets)
Other non-operating income and expenditure except for the
49,806.10
aforementioned items
Impact on minority shareholders’ equity (post-tax) 57,438.11
Total 165,180.79 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss
8
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section IV. Report of the Board of Directors
I. Introduction
In the first half of the year, Board of the Company earnestly perform their duties to regulating corporate operation,
integrate all of the resources in total, taking marketization measure to contract and adjusted the cahin of enterprise
manaegment, tap the potential and increase income with operating sustainable earnings achieved. On the one hand,
ensure that construction of key projects are in s steady progress, on the other hand, strive to explore new business
model and management model for Tellus, actively promoted the Company’s transformation and upgrading,
looking for new revenue growth opportunities to drive a healthy and stable development for the Company.
II. Main business analysis
Introduction
Main business of the Company was auto sales, auto inspection and maintenance and accessory sales, property
rental and services etc.; main business and its structure as well as main business ability in the reporting show no
major changes compare with last period.
In reporting period, the Company achieved operation income of RMB 228.69 million in total with a y-o-y growth
of 2.97%; profit realized RMB 5.36 million in total, net profit attributable to owners of parent company
amounting as RMB 5.38million, growth of the profit mainly because i. in the Period, enterprise (engaged in
automobile business) with controlling rights obtained and with stock invested by the Company have greatly
growth in profit on a year-on-year basis; ii. Property rental revenue in the Period increased and; iii. Operating
margins of the Company growth due to the decrease of period expense in the Period
Y-o-y changes of main financial data
In RMB
Y-o-y increase/decrease
Current period Same period of last year Reasons for changes
(%)
Operation revenue 228,692,541.86 222,087,318.26 2.97%
Operation cost 195,298,141.59 183,087,649.86 6.67%
Sales expenses 9,182,022.30 9,442,375.29 -2.76%
Administrative expenses 16,101,662.11 17,906,667.35 -10.08%
Financial cost 8,229,163.34 7,790,082.78 5.64%
More income tax paid in
Income tax expense 701,033.07 195,375.12 258.81%
the Period
Auto funds paid by
Net cash flow arising
-4,185,311.96 36,298,462.37 -111.53% subsidiary Huari
from operation activities
TOYOTA increased
9
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
y-o-y
More costs paid for
construction of Shuibei
Jewelry Building and
Net cash flow arising received cash from
from investment -70,203,958.22 12,944,409.13 -642.35% disposal of investment
activities real estate at same period
of last year, and no such
item occurred in the
Period
Borrowings from parent
Net cash flow arising
67,083,699.08 -24,147,599.58 company and the Bank
from financing activities
increased in the Period
Amount paid for auto
purchased from
subsidiary Huari
Net increase of cash and TOYOTA increased
-7,304,868.03 25,093,081.11 -129.11%
cash equivalent y-o-y and more costs
paid for construction of
Shuibei Jewelry Building
in the Period
Inventory decreased due
to the sales expansion
Inventory 43,766,660.19 62,826,365.70 -30.34%
from subsidiary Huari
TOYOTA
Auto sales deduct the
Other current assets 85,849,620.32 41,642,020.40 106.16% input tax from subsidiary
Huari TOYOTA
More costs for project of
Construction in process 52,873,743.56 33,255.04 158894.68%
Shuibei Jewelry Building
Land value of Shuibei
Intangible assets 52,964,100.72 33,255.04 159,166.39% Jewelry Building
transferred-in
The 50% land value of
Shuibei Jewelry Building
Other non-current assets 0.00 26,339,112.00 -100.00% paid originally
transferred-in as
intangible assets
Short-term loans 182,741,296.00 110,969,952.93 64.68% Bank loans increased
Bank acceptance paid by
Note payable 6,225,651.90 15,920,748.09 -60.90%
subsidiary Huari
10
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
TOYOTA
Accounts receivable in Automobile Sales of
2,228,640.04 22,087,866.51 -89.91%
advance Huari TOYOTA
Enterprise income taxes
Taxes payable 9,175,574.79 16,687,262.22 -45.01%
paid
Loss from asset Bad debt provision
35,599.18 100,000.00 -64.4%
devaluation decrease
Associates enterprise--
Shenzhen Zung Fu Tellus
Investment earnings 7,841,475.98 1,780,082.57 340.51% Auto Service Co., Ltd
gains more profit in the
Period
There was losses from
disposal of fixed assets
Non-operating
2,633.01 23,753.00 -88.92% over a year earlier, and
expenditure
no such item occurred in
the Period
There was cash received
over a year earlier from
Subtotal of cash in-flow
disposal of investment
arising from investment 40,740.00 32,414,709.28 -99.87%
real estate, and no such
activities
item occurred in the
Period
Subtotal of cash out-flow Engineering funds paid
arising from investment 70,244,698.22 19,470,300.15 260.78% for Shuibei Jewelry
activities Building increased
Subtotal of cash in-flow Borrowings from parent
arising from financing 226,000,000.00 41,600,000.00 443.27% company and the Bank
activities increased in the Period
The loans due for
Subtotal of cash out-flow
repayment to parent
arising from financing 158,916,300.92 65,747,599.58 141.71%
company and the Bank
activities
increased in the Period
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period
The future development and planning extended to reporting period that published in disclosure documents as prospectus, private
placing memorandum and recapitalize statement
□ Applicable √ Not applicable
No future development and planning extended to reporting period that published in disclosure documents as prospectus, private
placing memorandum and recapitalize statement
11
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Review on the previous business plan and its progress during reporting period
There is no situation of failing to reach the planned goals
III. Constitution of main business
In RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Operating
Operating cost Gross profit ratio operating revenue operating cost profit ratio over
revenue
over same period over same period same period of
of last year of last year last year
According to industries
Auto sales 159,587,553.83 155,270,536.50 2.71% 13.49% 11.59% 1.66%
Auto inspection
and maintenance
22,878,151.96 18,282,121.04 20.09% -11.39% -7.77% -3.14%
and accessories
sales
Rental and
43,155,763.69 20,048,113.30 53.54% -3.80% -10.00% 3.20%
service
According to products
Auto sales 159,587,553.83 155,270,536.50 2.71% 13.49% 11.59% 1.66%
Auto inspection
and maintenance
22,878,151.96 18,282,121.04 20.09% -11.39% -7.77% -3.14%
and accessories
sales
Rental and
43,155,763.69 20,048,113.30 53.54% -3.80% -10.00% 3.20%
service
According to region
Shenzhen 225,621,469.48 193,600,770.84 14.19% 6.78% 6.82% -0.03%
IV. Core competitive-ness analysis
Core competitive-ness of the Company has no major changes in the Period. Main business of the Company mainly
divided into two parts, the auto sales & aftermarket service and property rental & service.
Core competitive-ness of the Company has no major changes in the Period. Main business of the Company mainly
divided into two parts, the auto sales & aftermarket service and property rental & service.
Auto sales & aftermarket service of the Company adopt business model of 4S store, comprehensive major
maintenance, authorize maintenance, special maintenance and auto inspections. As profit standards in auto
industry declined integradlly and soaring costs of raw maateirals and labors, the marketplace will become
increasingly crowded. The Company will intergrate resources, active assets in full and reduce costs to step out the
12
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
enterprises and business gradually, who owes un-sustainable earnings and bad future perspective; overcome
negative factors in automobile consumption market to achieve the operation goals with great efforts.
In aspect of property rental & service, the Company owes a certain property management experience and has
higher property management qualification ; most of the property rental and management are self-owned property,
which has a lower cost and a stable income. The property of the Company in Shuibei area locates in a jewelry
collection and distribution center, property around Shuibei area is in the process of upgrading and transformation
recently with less property available, and the rental standards and price will be improved.
With standard of market demand and targets of maximum benefit, the Company adopting various operation
measures and innovative operation principle, implementing unified market planning via integration of existing
property resources; promote overall image and level for the property availabe for lease, create a speciazlized and
branded corporate image. Actively bringing in substantial stable clients, increase the ares for lease, improve rent
standards and raise income of the property lease in order to achieved the maximization of property value. With the
stable promotion of Tellus-Gem Golden Jewelry Industrial Park, the Company will promote targeted constructions
of the Company with all-out efforts, guarantee the projects completed and put into operation on schedule, and
increase areas of the Company’s property (Shuibei Area in particular) for lease greatly, quality and grade
ascended rapidly and the upgrading of property leasing business achieved.
The Company will seize policy opportunity, taking full advantage of the development advantage of core base for
Shenzhen golden jewelry industry, and making ues of the double roles of main owner in Shuibei area and majority
investor of industrial project, play a leading part in project of industrial park. Actively to lead the coordination of
vary body, promote the scientific planning and quality of Shuibei Jewerly Industry, to enhance the
company's asset quality and profitability
V. Investment analysis
1. Equity investment outside
(1) Investment outside
□ Applicable √ Not applicable
The Company has no investment outside in the Period
(2) Holding equity of financial enterprise
□ Applicable √ Not applicable
The Company has no equity of financial enterprise held in the Period
(3) Securities investment
□ Applicable √ Not applicable
The Company has no securities investment in the Period
13
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
2. Trust financing, investment of derivatives and entrustment loan
(1) Trust financing
□ Applicable √ Not applicable
The Company has no trust financing in the Period
(2) Investment of derivatives
□ Applicable √ Not applicable
The Company has no derivatives investment in the Period
(3) Entrustment loan
□ Applicable √ Not applicable
The Company has no entrustment loan in the Period
3. Application of raised proceeds
(1)Overall application of raised proceeds
□ Applicable √ Not applicable
(2) Situation of committed project of raised proceeds
□ Applicable √ Not applicable
(3)The changed project of raised proceeds
□ Applicable √ Not applicable
The Company has no project of raised proceeds changed in the Period
(4) Project of raised proceeds
Project of raised proceeds and summary Disclosure date Disclosure index
4. Main subsidiaries and joint-stock companies analysis
√ Applicable □ Not applicable
Main subsidiaries and joint-stock companies
In RMB
Industry Main Registered Operation Operation
Name Type Total assets Net assets Net profit
involved products or capital revenue profit
14
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
service
Self-owned
Shenzhen property
Auto leasing,
RMB 58.96 311,500,37 226,034,06 8,418,423.1 3,771,748
Industry Subsidiary Commerce automobile 3,212,576.33
million 2.56 3.86 5 .35
and Trade and
Corporation accessories
selling
Automobile
Shenzhen
maintenanc
SD Huari
Service e& US$ 5 74,373,866. 37,877,258. 21,158,993. -4,595,15
Automobile Subsidiary -4,426,761.95
production million 55 18 78 7.73
Enterprise industry
and sales of
Co.
accessory
Shenzhen
Zhongtian Service Property RMB 7.25 148,542,36 21,399,951. 199,823.3
Subsidiary 488,671.10 127,278.18
Industrial industry leasing million 5.14 46 0
Co., Ltd.
Shenzhen
Huari
Toyota Automobile RMB 2 69,004,837. -10,483,587 170,529,36 2,002,553
Subsidiary Commerce 2,100,440.32
Automobile selling million 96 .67 2.05 .80
Sales Co.
Ltd
Production
Shenzhen of
New inspection
Yongtong equipment
Service RMB 19. 14,177,894. 1,919,739.5 1,800,981.6 557,070.3
Automobile Subsidiary for auto 419,070.33
industry 61 million 40 7 0 3
Inspection vehicles,
Equipment self-owned
Co. Ltd property
leasing
Inspection
and
Shenzhen
maintenanc
Tellus New
e of auto
Yongtong Service RMB 32.90 83,119,690. 44,270,331. 7,023,521.6 742,735.2
Subsidiary vehicle, 742,505.81
Automobile industry million 42 02 9 2
property
Developme
managemen
nt Co. Ltd
t, house
lease
15
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Shenzhen
Self-owned
SD Tellus Manufactur RMB 31.15 29,199,687. 12,592,974. -133,630.
Subsidiary property 0.00 -133,630.99
Real Estate e million 28 88 99
leasing
Co. Ltd
Shenzhen
SD Tellus Property
Service RMB 7.05 28,407,428. 11,065,242. 17,326,700. -237,599.
Property Subsidiary managemen -230,290.71
industry million 57 60 63 41
Managemen t
t Co. Ltd
Shenzhen
Tellus Real Agency of
Service RMB 2 2,664,525.8 2,507,657.1 -12,597.3
Estate Subsidiary real estate 213,547.00 -12,597.36
industry million 8 3 6
Exchange exchange
Co. Ltd
Shenzhen
Sales of
Zung Fu
Joint-stock Service auto and RMB 30 428,934,21 218,590,39 706,759,01 24,933,74 18,521,442.7
Tellus Auto
company industry maintenanc million 9.71 5.45 7.70 4.94 4
Service Co.,
e
Ltd.
Auto
Shenzhen
manufacturi
Dongfeng Joint-stock Manufactur RMB 100 556,126,42 135,640,69 104,332,33 4,799,317
ng and 6,013,464.08
Auto Co., company e million 7.18 0.09 8.01 .99
maintenanc
Ltd.
e
Shenzhen
Mould
Xinglong RMB
Joint-stock Manufactur processing 256,020,99 64,979,136.
Machinery 27.6333 0.00 0.00 0.00
company e and 3.74 82
Mould Co., million
exportation
Ltd.
5. Major project invested by non-raised funds
√ Applicable □ Not applicable
In ten thousand Yuan
Amount invested
Total investment Amount invested in
Project accumulative till end Progress Earnings
planned this period
of reporting period
Tellus Shuibei
jewelry Building 41,364 9,549.69 13,713.89 33.15%
(Phase I)
Total 41,364 9,549.69 13,713.89 -- --
16
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
VI. Prediction of business performance from January – September 2014
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
warning of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable √ Not applicable
VII. Explanation from the Board and Supervisory Committee for “Qualified Opinion” from
the CPA of this year’s
□ Applicable √ Not applicable
VIII. Explanation on “Qualified Opinion” of previous year from the Board
□ Applicable √ Not applicable
IX. Implementation of profit distribution in reporting period
Implementation or adjustment of profit distribution plan in reporting period, cash dividend plan and shares converted from capital
reserve in particular
□ Applicable √ Not applicable
Previous year’s profit distribution plan was no profit distribution and shares converted from capital reserve either
X. Profit distribution and capitalization of capital reserves in the Period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for
the semi-annual year
XI. In the report period, reception of research, communication and interview
□ Applicable √ Not applicable
The Company has no reception of research, communication and interview occurred in the Period
17
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section V. Important Events
I. Corporate governance
During the reporting period, the Company has been observing the Company Law, Securities Law and relevant
rules issued by the CSRC, for the purpose of improving its legal person governance structure and standardizing its
operation level. According to the Articles of Association, Procedure Rules of General Meeting, Procedure Rules of
Board of Directors, Procedure Rules of Supervisory Committee, Working Rules of Independent Directors,
Working Rules of General Manager and a series of rules and regulations, the Company maintained normal
performance of the duties and obligations of its general meeting, board of directors and supervisory committee.
Each of its directors and supervisors can perform their duties earnestly.
In reporting period, the Company, in line with requirement of internal control, formulated ―Management
Measures of Raise Funds‖ combine with actual condition of the Company and revised the ―Article of
Association‖.
In 30 days before periodic report released, 10 days before performance prediction and express report disclosed
and in other major events public, board of the Company, supervisory committee, senior executives and other
insider information informed staff exercise self-examination in aspect of the stocks trading in senstive period, no
relevant personnel engage in securities trading activities using inside information been found.
Controlling shareholder of the Company has a norms behavior without beyond the general meeting to setp in the
decision-making and operation activity of the Company directly/indirectly, and has no violation of capital
occupation of the Company either, the Company strictly perform its decision-making procedures and disclosed the
information timely.
During reporting period, in strict accordance with relevant requirement of ―Rules of Stocks Listing in Shenzhen
Stock Exchange‖ and ―Guide of Fair Information Disclosure for Listed Company‖as well as normative documents,
by earnestly following the principle of ―fairly, openly and equitably‖, the Company perform its information
disclosure obligation seriously and timely; furthermore, asuring the reality, accuracy and completion for the
whole contents of the information disclosed, no fictitious statement, misleading statement or important
ommissions been found either, whole of the sharehodles are equally to share the all information of the Company.
Presently, the actual condition of the corporate governance shows no difference with the Company Law and
relevant requriement from CSRC.
II. Significant lawsuits and arbitrations of the Company
□ Applicable √ Not applicable
The Company has no significant lawsuits and arbitrations in reporting period
18
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
III. Question from media
□ Applicable √ Not applicable
No universal questioned by media in reporting period
IV. Bankruptcy reorganization
□ Applicable √ Not applicable
In reporting period, the Company has no bankruptcy reorganization occurred.
V. Transaction in assets
1. Assets acquisition
□ Applicable √ Not applicable
The Company did not purchased assets in the Period
2. Sales of assets
□ Applicable √ Not applicable
The Company did not sell assets in the Period
3. Business combination
□ Applicable √ Not applicable
The Company has no business combined in the Period
VI. Implementation of the company’s equity incentive and the effects
□ Applicable √ Not applicable
No equity incentive in reporting period
VII. Significant related transaction
1. Related transaction routine operations concerned
□ Applicable √ Not applicable
The Company has no related transaction with routine operations concerned occurred in the Period
2. Related transaction incurred by purchase or sales of assets
□ Applicable √ Not applicable
No related transaction incurred by purchase or sales of assets in Period
3. Related transaction from jointly investment outside
□ Applicable √ Not applicable
No related transaction from jointly investment outside occurred in Period
19
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
4. Credits and liability of related party
√ Applicable □ Not applicable
Whether have non-operation related liabilities and credits relations or not
√ Yes □ No
Majority
shareholder’s Opening Amount in Closing
Credit and non-business balance (in 10 Period (in balance (in
Related party Relationship Causes
debt capital thousand 10 thousand 10 thousand
occupying Yuan) Yuan) Yuan)
(Y/N)
Debt payable
Shenzhen SDG Co., Parent Long-term
to related N 7,300 0 7,300
Ltd. company loans
party
Debt payable
Shenzhen SDG Co., Parent Accounts
to related N 5,385.8 -296.26 5,682.05
Ltd. company current
party
Debt payable
Shenzhen SDG Co., Parent Short-term
to related N 1,895.24 1.11 1,894.13
Ltd. company loans
party
5. Other significant related transactions
□ Applicable √ Not applicable
The Company had no other significant related transactions in the reporting period
VIII. Non-business capital occupying by controlling shareholders and its related parties
□ Applicable √ Not applicable
No non-business capital occupied by controlling shareholders and its related parties in Period
IX. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
The Company had no trusteeship in the reporting period.
(2) Contract
□ Applicable √ Not applicable
20
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
The Company had no contract in the reporting period.
(3) Leasing
□ Applicable √ Not applicable
The Company had no leasing in the reporting period.
2. Guarantee
√ Applicable □ Not applicable
In ten thousand Yuan
Particulars about the external guarantee of the Company (Barring the guarantee for subsidiaries)
Related Actual date of
Complete Guarante
Announcem happening
Name of the Guarantee Actual Guarantee Guarantee implemen e for
ent (Date of
Company guaranteed limit guarantee limit type term tation or related
disclosure signing
not party
date agreement)
Guarantee of the Company for the subsidiaries
Related Actual date of
Complete Guarante
Announcem happening
Name of the Guarantee Actual Guarantee Guarantee implemen e for
ent (Date of
Company guaranteed limit guarantee limit type term tation or related
disclosure signing
not party
date agreement)
Shenzhen Zhongtian Joint liability
2014-03-20 4,140 4,140 2.5 years No Yes
Industrial Co., Ltd. guaranty
Shenzhen Zhongtian Joint liability
2014-05-08 30,000 30,000 10 years No Yes
Industrial Co., Ltd. guaranty
Shenzhen Auto
Industry and Trade 2014-04-25 6,000 6,000 Pledged 12 months No Yes
Corporation
Total amount of actual
Total amount of approving
occurred guarantee for
guarantee for subsidiaries in 40,140 40,140
subsidiaries in report period
report period (B1)
(B2)
Total balance of actual
Total amount of approved
guarantee for subsidiaries at
guarantee for subsidiaries at the 40,140 40,140
the end of reporting period
end of reporting period (B3)
(B4)
Total amount of guarantee of the Company( total two abovementioned guarantee)
Total amount of approving Total amount of actual
guarantee in report period 40,140 occurred guarantee in report 40,140
(A1+B1) period (A2+B2)
Total amount of approved Total balance of actual
guarantee at the end of report 40,140 guarantee at the end of report 40,140
period (A3+B3) period (A4+B4)
The proportion of the total amount of actually guarantee in the
204.10%
net assets of the Company(A4+ B4)
21
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Including:
Amount of guarantee for shareholders, actual controller and its
0
related parties(C)
The debts guarantee amount provided for the guaranteed parties
34,140
whose assets-liability ratio exceed 70% directly or indirectly(D)
Proportion of total amount of guarantee in net assets of the
30,000
Company exceed 50%(E)
Explanation on guarantee with composite way
(1) Guarantee outside against the regulation
□ Applicable √ Not applicable
No guarantee outside against the regulation in Period
3. Other material contracts
□ Applicable √ Not applicable
The Company had no other material contracts in the reporting period.
4. Other material transactions
□ Applicable √ Not applicable
The Company had no other material transactions in the reporting period.
X. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or occurred in the previous reporting period but continued to
reporting period
√ Applicable □ Not applicable
Commitment Commitment
Commitments Accepter Contents Implementation
time period
(I) Commitments during the work of Share Merger
Reform of the Company:
1. Commitments on Lock-up period
(1) In accordance with the Measures for the
Administration of the Share Merger Reform of Listed
Companies, SDG would abide by the various laws,
regulations and rules, and perform its statutory
Commitments for commitment duty.
Share Merger (2) Apart from the above-mentioned statutory
SDG 2005-12-25 Long-term Implementing
commitment, SDG also made the following special
Reform commitment: with 36 months since the day the reform
plan starts to take effect, SDG would not list at Shenzhen
Stock Exchange and sell the shares of Tellus it held
(except for the shares used to promote the administration
level of Tellus).
(3) The administration level would abide by the laws,
regulations and rules, and perform its statutory
commitment duty.
22
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(4) SDG made the commitment: ―The Promiser hereby
promises that, if the Promiser failed to fulfill its
commitment or not fully fulfill its commitment, it would
compensate other shareholders for their losses suffered
thereafter‖.
(5) SDG declared: ―The Promiser would dutifully fulfill
its commitments and shoulder corresponding legal
responsibilities. The Promiser would transfer the shares
held by it only if the assignee agree and have the ability to
shoulder the commitment responsibility.‖
2. Special commitment concerning the incentive
mechanism
In order to effectively boost the core management level
and business backbones for long, SDG would take out its
shares, not exceeding 10% in total number after the Share
Merger Reform, and apply them to the boost of the
administration level. The shares would be sold to the
Company’s administrative level over 3 years, with the
selling price being the net asset value per share audited
during the period nearest to the implementation. Before
the implementation of the promoting plan by share selling
each year, the administration level must prepay the
Company a risk responsibility fund, i.e. 20% of the
planned selling price; Should the work of the performance
examination set by the Board failed to be finished, the
paid risk responsibility fund would not be refunded and
shall be owned by the Company. Detailed rules
concerning the limitations on the administration level,
such as the subscription conditions and risk responsibility
fund, and boost plans would be set by the Board and
submitted to relevant departments for approval. The
implementation of the shares for promoting would be
conducted strictly according to relevant laws and
regulations, and the circulation conditions of these shares
would be in conformity with relevant regulations set by
the Shenzhen Stock Exchange.
3. Relevant expenses of this Share Merger Reform of
Tellus would be paid by SDG.
Controlling shareholder of the Company SDG has special
commitment of incentive mechanism in the Company’s
split-share reform. Later, SASAC and Ministry of Finance
jointly issued the Trial Procedures of Stock Option
Incentive Implemented By State-Holding Listed
Companies and CSRC published the Regulation of Stock
Option Incentive for Listed Companies (Trial), after
checking the documents, the above mentioned
commitment made by SDG fails to satisfy relevant
requirements in the document, relevant commitment not
SDG implemented temporary. The Company actively negotiate 2014-06-26 2016-06-30 Implementing
with the SDG with the matters concerned, on 26 June
2014, on the premise of relevant laws, regulations and
requirement of authority satisfied, SDG will continues to
support the Company implement a long-acting incentive
plan as soon as possible instead of stock option incentive
commitment made in share merger reform and complete
the construction of long-acting incentive mechanism
before 30 June 2016. The long-acting incentive plan will
implement after submit for approval in General Meeting
of the Company at the scheduled time.
Commitments in
report of
acquisition or
equity change
23
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Commitments in
assets replacement
Commitments
make in Initial
public offering or
re-financing
Other
commitments for
medium and small
shareholders
Completed on
Y
time(Y/N)
XI. Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□ Yes √ No
XII. Penalty and rectification
□ Applicable √ Not applicable
The Company had no penalty or rectification in the reporting period.
XIII. Risk disclosure of delisting with laws and rules violated
□ Applicable √ Not applicable
The Company has no delisting risks with laws and rules violated in Period
XIV. Explanation on other significant events
□ Applicable √ Not applicable
The Company had no explanation on other significant events in the reporting period.
24
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in shares
In share
Before change Increase/decrease in this time (+ , - ) After change
Capitalizat
Bonus ion of
Amount Ratio New issue Other Subtotal Amount Ratio
share public
reserve
14,587,05 14,587,05
I. Restricted shares 6.62% 6.62%
6 6
2. State-owned corporation 14,587,05 14,587,05
6.62% 6.62%
shares 6 6
205,694,5 205,694,5
II. Un-restricted shares 93.38% 93.38%
44 44
179,294,5 179,294,5
1. RMB ordinary shares 81.39% 81.39%
44 44
2. Domestically listed 26,400,00 26,400,00
11.98% 11.98%
foreign shares 0 0
220,281,6 220,281,6
III. Total shares 100.00% 100.00%
00 00
Reasons for share changed
□ Applicable √ Not applicable
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changes
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
Explanation on changes in aspect of total shares, shareholders structures as well as structure of assets and liability of the Company
□ Applicable √ Not applicable
II. Number of shares and shares held
In Share
25
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Total preference shareholders
with voting rights recovered at
Total shareholders at period-end 16,818 0
end of reporting period (if
applicable) (see Note 8)
Particulars about shares held above 5% by shareholders or top ten shareholders
Amount Number of shares
Amount
Total of pledged/frozen
Changes of
Full name of Nature of Proportion of shareholders unrestri
in report restricte
Shareholders shareholder shares held at the end of cted
period d shares State of share Amount
report period shares
held
held
SHENZHEN State-owned 14,587, 131,283
66.22% 145,870,560 0
SDG CO., LTD. corporation 056 ,504
Guoyuan
Securities -172,75
Foreign corporation 0.94% 2,075,600
Brokerage (HK) 5
Co., Ltd.
Domestic nature 1,398,2
Zhang Yimei 0.63% 1,398,200
person 00
Domestic nature
Fang Jinsong 0.32% 706,645 706,645
person
Domestic nature
Jiang Youhua 0.30% 650,838 650,838
person
FISRT
SHANGHAI -266,47
Foreign corporation 0.27% 601,907
SECURITIES 0
LTD.
Domestic nature
Chen Jiansheng 0.27% 600,050 600,050
person
Domestic nature
Chen Shufen 0.24% 522,490 372,490
person
Domestic nature
Lin Fengyuan 0.24% 520,358 3,200
person
State-owned
CMS (HK) 0.24% 520,020 371,721
corporation
Strategy investors or general corporate
becomes top 10 shareholders due to N/A
rights issued (if applicable)(see Note 3)
Explanation on associated relationship Among the top ten shareholders, there exists no associated relationship between the
among the aforesaid shareholders state-owned legal person’s shareholders Shenzhen SDG Co., Ltd and other shareholders,
26
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
and they do not belong to the consistent actionist regulated by the Management Measure of
Information Disclosure on Change of Shareholding for Listed Companies. For the other
shareholders of circulation share, the Company is unknown whether they belong to the
consistent actionist.
Particular about top ten shareholders with un-restrict shares held
Type of shares
Shareholders’ name Amount of unrestricted shares held at period-end
Type Amount
RMB ordinary
SHENZHEN SDG CO., LTD. 131,283,504 131,283,504
shares
Domestically
Guoyuan Securities Brokerage (HK)
2,075,600 listed foreign 2,075,600
Co., Ltd.
shares
RMB ordinary
Zhang Yimei 1,398,200 1,398,200
shares
RMB ordinary
Fang Jinsong 706,645 706,645
shares
RMB ordinary
Jiang Youhua 650,838 650,838
shares
Domestically
FISRT SHANGHAI SECURITIES
601,907 listed foreign 601,907
LTD.
shares
RMB ordinary
Chen Jiansheng 600,050 600,050
shares
RMB ordinary
Chen Shufen 522,490 522,490
shares
Domestically
Lin Fengyuan 520,358 listed foreign 520,358
shares
Domestically
CMS (HK) 520,020 listed foreign 520,020
shares
Among the top ten shareholders, there exists no associated relationship between the
Expiation on associated relationship or
state-owned legal person’s shareholders Shenzhen SDG Co., Ltd and other shareholders,
consistent actors within the top 10
and they do not belong to the consistent actionist regulated by the Management Measure of
un-restrict shareholders and between
Information Disclosure on Change of Shareholding for Listed Companies. For the other
top 10 un-restrict shareholders and top
shareholders of circulation share, the Company is unknown whether they belong to the
10 shareholders
consistent actionist.
Explanation on shareholders involving
margin business (if applicable)(see N/A
note 4)
27
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Whether has a buy-back agreement dealing in reporting period
□Yes √No
The shareholders o f the Company had no buy-back agreement dealing in reporting period.
III. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of controlling shareholders had no change in reporting period.
Changes of actual controller in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
IV. Share holding increasing plan proposed or implemented in reporting period from
shareholder of the Company and its concerted action person
□ Applicable √Not applicable
As far as the Company know, there are no share holding increasing plan proposed or implemented in Period from shareholder of the
Company and its concerted action person
28
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section VII. Preferred Stock
I. Issuance and listing of preferred stock in Period
□ Applicable √ Not applicable
II. Number of shareholders with preferred stock held and shareholdings
□ Applicable √ Not applicable
III. Repurchase and conversion of preferred stock
1. Preferred stock repurchased
□ Applicable √ Not applicable
2. Preferred stock converted
□ Applicable √ Not applicable
IV. Preferred stock with voting rights recovered and executed
□ Applicable √ Not applicable
V. Accounting policy taken for preferred stock and reasons
□ Applicable √ Not applicable
29
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section VIII. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior executives have no changes in reporting period, found more details in Annual Report
2013.
II. Resignation and dismissal of directors, supervisors and senior executives
√ Applicable □ Not applicable
Name Title Type Date Reason
Zhang Ruili Chairman Office leaving 2014-04-08 Resignation due to the work change
Zhang Jianmin Director Office leaving 2014-04-22 Resignation due to the work change
Lv Hang Chairman Be elected 2014-04-08 Be elected
Li Miao Director Be elected 2014-05-15 Be elected
Deputy General
Guo Jian Office leaving 2014-04-08 Resignation due to the work change
Manager
Secretary of the
Guo Dongri Board, Deputy Office leaving 2014-06-30 Resignation due to personal reason
GM
30
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section IX. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
Units in Notes of Financial Statements is RMB
31
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Consolidated Balance Sheet
2014年6月30日
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Assets Note VII Balance at period-end Balance at year-begin
Current assets:
Monetary funds 1 57,106,710.45 69,898,791.56
Transactional financial assets - -
Notes receivable - -
Accounts receivable 2 4,510,326.96 5,016,738.78
Prepayment 4 10,291,564.10 8,309,574.73
Dividend receivable - -
Other accounts receivable 3 10,256,908.59 8,028,356.69
Inventories 5 43,766,660.19 62,826,365.70
Non-current asset due in 1 year - -
Other current assets 6 8,572,421.19 11,644,102.02
Total of current asset 134,504,591.48 165,723,929.48
Non-current assets:
Financial asset available for sale 7 1,391,820.80 1,480,168.80
Expired investment in possess 8 100,000.00 100,000.00
Long-term receivable 9 - -
Long-term equity investment 10 209,715,062.73 201,873,586.75
Investment real estate 11 86,137,027.37 88,422,673.91
Fixed asset 12 145,959,235.73 149,968,663.80
Construction in process 13 85,849,620.32 41,642,020.40
Engineering goods - -
Fixed asset disposal - -
Production biological asset - -
Intangible assets 14 52,873,743.56 33,255.04
R&D expense - -
Goodwill - -
Long-term amortizable expenses 15 670,703.75 848,038.96
Deferred income tax assets 16 24,556,131.41 24,566,702.71
Other non-current asset 17 - 26,339,112.00
Total of non-current assets 607,253,345.67 535,274,222.37
Total assets 741,757,937.15 700,998,151.85
The notes to the Financial Statement are essential parts of the Financial Statements
32
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Consolidated Balance Sheet(Con't)
2014年6月30日
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Liability and owners' euqity Note VII Amount at period-end Balance at year-begin
Current liability:
Short-term loans 20 182,741,296.00 110,969,952.93
Transactional financial liability - -
Notes payable 21 6,225,651.90 15,920,748.09
Accounts payable 22 22,062,234.53 22,008,010.24
Accounts receivable in advance 23 2,228,640.04 22,087,866.51
Wage payable 24 12,688,086.44 14,408,687.62
Taxes payable 25 9,175,574.79 16,687,262.22
Dividend payable 26 -
Interest payable - -
Other account payable 27 115,698,361.82 107,809,585.66
Non-current liability due within 1 year 28 12,000,000.00 12,000,000.00
Other current liability - -
Total of current liability 362,819,845.52 321,892,113.27
Non-current liability:
Long-term loans 29 125,000,000.00 131,000,000.00
Bonds payable - -
Long-term payable 30 13,319,681.59 13,319,681.59
Special accounts payable - -
Projected liabilities - -
Deferred income tax liability 16 1,102,701.09 1,248,087.86
Other non-current liability 31,211,904.55 29,823,013.37
Total non-current liability 170,634,287.23 175,390,782.82
Total liability 533,454,132.75 497,282,896.09
Owners' equity:
Share capital 31 220,281,600.00 220,281,600.00
Capital public reserve 32 8,442,270.18 8,508,531.18
Surplus public reserve 33 2,952,586.32 2,952,586.32
Retained profit 34 -35,010,339.41 -40,390,760.22
Total owner's equity attibutable to parent company 196,666,117.09 191,351,957.28
Minority interests 11,637,687.31 12,363,298.48
Total of owners' equity 208,303,804.40 203,715,255.76
Total liabilities & owner's equity 741,757,937.15 700,998,151.85
（The Notes to the Financial Statements are essential parts of the Finanical Statements）
33
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Consolidated Profit Statement
Jan.- June 2014
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Items Note VII Amount at this period Amount at last year
I. Operation revenue 35 228,692,541.86 222,087,318.26
Less: Operation cost 35 195,298,141.59 183,087,649.86
Business tax and surcharge 36 2,463,848.35 2,876,878.04
Sales expense 37 9,182,022.30 9,442,375.29
Administrative expense 38 16,192,019.27 17,906,667.35
Financial expense 39 8,229,163.34 7,790,082.78
Asset impairment loss 41 35,599.18 100,000.00
Plus:Income from change of fair value(loss is listed with"-") - -
Investment income（loss is listed with"-") 40 7,841,475.98 1,780,082.57
Incl: Investment income from affiliated enterprises and joint venture 7,841,475.98 1,707,144.32
II.Operation profit(loss is listed with"-") 5,133,223.81 2,663,747.51
Plus:Non-operation income 42 225,251.91 222,561.76
Less: Non-operation expenses 43 2,633.01 23,753.00
Incl: Loss from disposal of non-current assets 14,002.00
III.Total profit(loss is listed with"-") 5,355,842.71 2,862,556.27
Less: Income tax expenses 44 701,033.07 195,375.12
IV.Net profit(loss is listed with"-") 4,654,809.64 2,667,181.15
Net profit attributable to owners' of patrent company 5,380,420.81 3,746,434.89
Minor shareholders' equity -725,611.17 -1,079,253.74
V.Earning per share
(I) Basic earnings per share 45 0.0244 0.0170
(II) Diluted earnings per share 45 0.0244 0.0170
VI.Other consolidated income 46 -66,261.00 -248,916.25
VII.Total consolidated income 4,588,548.64 2,418,264.90
Total consolidated income attributable to owners of parent company 5,314,159.81 3,497,518.64
Total consolidated income attributable to minority shareholders -725,611.17 -1,079,253.74
（The Notes to the Financial Statements are essential parts of the Finanical Statements）
34
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Consolidated Cash Flow Statement
Jan.- June 2014
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Items Note VII Amount at this period Amount at last year
I. Cash flow from operating activities
Cash received from sales of goods and labor service provided 253,756,652.24 239,638,243.75
Taxes surrender received - -
Other cash received from business activities 47 25,759,770.67 50,668,321.35
Sub-total of cash inflow from business activities 279,516,422.91 290,306,565.10
Cash paid for purchasing of merchandise and services 211,397,194.39 170,877,477.84
Cash paid to/for staff 25,369,986.36 24,622,802.05
Taxes paid 16,810,604.28 17,252,571.19
Other Cash paid for business activities 47 30,123,949.84 41,255,251.65
Subtotal of cash outflow from business activities 283,701,734.87 254,008,102.73
Net cash flow generated from business activities -4,185,311.96 36,298,462.37
II. Cash flow from investment activities
Cash received from investment retrieving - 84,713.03
Cash received as investment gains - 72,938.25
Net cash received from disposal of fixed, intangible assets and
40,740.00 32,257,058.00
other long-term assets
Net cash received from disposal of subsidiaries or other operational units - -
Other investmenr-related cash received 47 - -
Subtotal of cash inflow due to investment activities 40,740.00 32,414,709.28
Cash paid for construction of fixed assets, intangible assets and
70,244,698.22 9,185,642.58
other long-term assets
Cash paid as investment - 9,900,000.00
Net cash received from subsidiaries and other opeartional units - -
Other cash paid for investment activities 47 - 384,657.57
Subtotal of cash outflow due to investment activitie 70,244,698.22 19,470,300.15
Net cash flow generated from investment -70,203,958.22 12,944,409.13
III. Cash flow generated by financing
Cash received as investment absorption - -
Including: Cash received as investment from minor shareholders by subsidiary - -
Cash received as loans 226,000,000.00 41,600,000.00
Other financing-related cash received - -
Subtotal of cash inflow from financing activities 226,000,000.00 41,600,000.00
Cash paid to debts 154,000,000.00 59,600,000.00
Cash paid as dividend, profit or interests 4,916,300.92 6,127,599.58
Including: Dividend and profit paid by subsidiaries to minor shareholders - -
Other cash paid for financing activities 47 - 20,000.00
Subtotal of cash outflow from financing activities 158,916,300.92 65,747,599.58
Net cash flow generated by financing activities 67,083,699.08 -24,147,599.58
IV. Influence of exchange rate alternation on cash and cash equivalents 703.07 -2,190.81
V. Net increase of cash and cash equivalents -7,304,868.03 25,093,081.11
Plus: Balance of cash and cash equivalents at the beginning of term 63,166,448.10 55,145,531.39
VI. Balance of cash and cash equivalents at the end of term 55,861,580.07 80,238,612.50
（The Notes to the Financial Statements are essential parts of the Finanical Statements）
35
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Consolidated Statement on Changes of Owners' Equity
Semi-annual of 2014
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Current amount Amount of last year
Items Owners' equity attibutable to parent company Minor shareholders' Owners' equity attibutable to parent company Minor shareholders'
Total owners' equity Total owners' equity
Share capital Capital reserves Surplus reserves Retained profit equity Share capital Capital reserves Surplus reserves Retained profit equity
I.Balance at the end of last year 220,281,600.00 8,508,531.18 2,952,586.32 -40,390,760.22 12,363,298.48 203,715,255.76 220,281,600.00 8,732,694.55 2,952,586.32 -47,291,479.26 16,386,114.63 201,061,516.24
Plus:Change of accounting policy - - - - - - - - - - - -
Correcting of previous errors - - - - - - - - - - - -
II.Balance at the beginning of
current year
220,281,600.00 8,508,531.18 2,952,586.32 -40,390,760.22 12,363,298.48 203,715,255.76 220,281,600.00 8,732,694.55 2,952,586.32 -47,291,479.26 16,386,114.63 201,061,516.24
III.Changed in current year（Loss
is listed with"-"）
- -66,261.00 - 5,380,420.81 -725,611.17 4,588,548.64 - -248,916.25 - 3,746,434.89 -1,079,253.74 2,418,264.90
(I)Net profit - - - 5,380,420.81 -725,611.17 4,654,809.64 - - - 3,746,434.89 -1,079,253.74 2,667,181.15
(II)Other integrated income - -66,261.00 - - - -66,261.00 - -248,916.25 - - - -248,916.25
Total of (I) and (II) - -66,261.00 - 5,380,420.81 -725,611.17 4,588,548.64 - -248,916.25 - 3,746,434.89 -1,079,253.74 2,418,264.90
(III)Shareholder input and withdraw of
share capital
- - - - - - - - - - - -
1,Capital input by shareholders - - - - - - - - - - - -
2.Share payment accounted into
shareholders' equity
- - - - - - - - - - - -
3.Others - - - - - - - - - - - -
(IV)Profit distribution - - - - - - - - - - - -
1.Providing of surplus reserves - - - - - - - - - - - -
2.Common risk provision - - - - - - - - - - - -
3.Dividend to shareholders - - - - - - - - - - - -
4. Others - - - - - - - - - - - -
(V)Internal settlement of shareholders'
equity
- - - - - - - - - - - -
1. Capital reserves transferred to share
capital
- - - - - - - - - - - -
2. Surplus reserves transferred to share
capital
- - - - - - - - - - - -
3. Making up losses by surplus
reserves
- - - - - - - - - - - -
4. Others - - - - - - - - - - -
(VI) Reasonable reserve - - - - - - - - - - - -
1. Withdraw in this period - - - - - - - - - - - -
2.Used in this period - - - - - - - - - - - -
IV.Balance at the end of this year 220,281,600.00 8,442,270.18 2,952,586.32 -35,010,339.41 11,637,687.31 208,303,804.40 220,281,600.00 8,483,778.30 2,952,586.32 -43,545,044.37 15,306,860.89 203,479,781.14
36
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Balance Sheet
2014年6月30日
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Assets Note XIII Balance at period-end Balance at year-begin
Current assets:
Monetary capital 12,570,634.30 30,209,143.04
Transactional financial assets - -
Notes receivable - -
Accounts receivable 1 - -
Prepayment 88,050.00 21,000.00
Dividend receivable - -
Other receivable 2 114,936,595.70 36,330,120.01
Inventory - -
Non-current assets due in 1 year - -
Other current assets - -
Total of current assets 127,595,280.00 66,560,263.05
Non-current assets
Financial assets available for sale 1,391,820.80 1,480,168.80
Investment held-to-maturity - -
Long-term recivable - -
Long-term share equity investment 3 433,518,935.63 426,777,549.25
Investment real estate 54,436,493.04 55,919,100.96
Fixed assts 18,380,311.08 18,675,995.34
Construction in process 251,308.70 251,308.70
Engineering goods - -
Disposal of fixed assets - -
Production biological assets - -
Intangible assets 285,877.72 33,255.04
R&D expenses - -
Goodwill - -
Long-term amortizable expenses 44,813.08 65,496.04
Deferred income tax assets 14,005,609.54 14,025,080.64
Other non-current assets - -
Total non-current asset 522,315,169.59 517,227,954.77
Total assets 649,910,449.59 583,788,217.82
（The Notes to the Financial Statements are essential parts of the Finanical Statements）
37
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Balance sheet(Con't)
2014年6月30日
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Liabilities & owners' equity Note Blance at period-end Balance at year-begin
Current liability:
Short-term loans 127,544,160.00 67,544,160.00
Transactional financial liability - -
Notes payable - -
Accounts payable - -
Accounts received in advance - -
Wage payable 4,004,995.60 4,145,439.65
Taxes payable 408,664.50 403,514.95
Dividend payable - -
Interest payable - -
Other account payable 294,150,068.11 287,687,112.90
Non-current liability due within 1 year 6,000,000.00 6,000,000.00
Other current liability - -
Total current liability 432,107,888.21 365,780,227.50
Non-current liability:
Long-term loans 92,500,000.00 95,500,000.00
Bonds payable - -
Long-term payable - -
Special accounts payable - -
Projected liabilities - -
Deferred income tax liability 256,554.88 278,641.88
Other non-current liability - -
Total non-current liability 92,756,554.88 95,778,641.88
Total liability 524,864,443.09 461,558,869.38
Owners' equity:
Share capital 220,281,600.00 220,281,600.00
Capital public reserve 5,248,846.90 5,315,107.90
Surplus public reserve 2,952,586.32 2,952,586.32
Retained profit -103,437,026.72 -106,319,945.78
Total owner's equity attributable to parent company 125,046,006.50 122,229,348.44
Minority interests - -
Total of owners' equity 125,046,006.50 122,229,348.44
Total liabilities&owner's equity 649,910,449.59 583,788,217.82
（The Notes to the Financial Statements are essential parts of the Finanical Statements）
38
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Profit Statement
Jan. - June 2014
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Items Note XIII Amount at this period Amount at last period
I. Total operating revenue 4 9,684,900.12 8,845,953.02
Less: Operating cost 4 1,820,193.72 1,891,907.91
Operating tax and extras 542,354.41 495,373.36
Sales expense - -
Administration expenses 6,381,195.40 7,274,181.62
Financial expense 4,808,665.49 4,523,671.97
Losses of devaluation of asset - -
Plus:Changing income of fair value(Loss is listed with"-") - -
Investment income(Loss is listed with"-") 5 6,741,386.38 1,304,595.35
Incl:Investment income on affiliated enterprises and joint venture 6,741,386.38 1,231,657.10
II.Operating profit(Loss if listed with"-") 2,873,877.48 -4,034,586.49
Plus:Non-operating income 28,512.68
Less:Non-operating expenses - -
Incl:Loss from the disposal of non-current assets - -
III.Total profit(Loss is listed with"-") 2,902,390.16 -4,034,586.49
Less: Income tax expense 19,471.10 -
IV.Net profit(Loss is listed with"-") 2,882,919.06 -4,034,586.49
Net profit attributable to owner's of parent company 2,882,919.06 -4,034,586.49
Minority shareholders' gains and losses - -
V.Earnings per share
i.Basic earnings per share 0.0131 -0.0183
ii.Diluted earnings per share 0.0131 -0.0183
VI.Other integrated income -66,261.00 -248,916.25
VII. Total of intergrated income 2,816,658.06 -4,283,502.74
Total amount of owners' integrated income attributable to parent co., 2,816,658.06 -4,283,502.74
Total amount of integrated income attributable to minority shareholders - -
（The Notes to the Financial Statements are essential parts of the Finanical Statements）
39
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Cash Flow Statement
Jan. - June 2014
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Items Note Amount at this period Amount at last period
I.Cash flows arising from operating activities
Cash received from selling goods and provising labor services 10,855,355.64 10,165,621.62
Write-back of tax received - -
Other cash received concerning operating activities 137,551,446.17 101,880,965.23
Subtotal of cash inflow arising from operating activities 148,406,801.81 112,046,586.85
Cash paid to/for purchasing goods and receiving labor services - -
Cash paid to/for staff and workers 5,844,213.54 6,037,588.81
Taxes paid 1,314,378.34 1,285,904.17
Other cash paid concerning operating activities 210,948,195.60 72,033,784.75
Subtotal of cash outflow arising from operating activities 218,106,787.48 79,357,277.73
Net cash flows arising from operating activities -69,699,985.67 32,689,309.12
II.Cash flows arising from investment activities
Cash received from recovering investment - -
Cash received from investment income - 72,938.25
Net cash received from disposal of fixed, intangible and
39,890.00 -
other long-term assets
Net cash received from disposal of subsidiaries and other units - -
Other cash received concerning investing activities - -
Subtotal of cash inflow from investing activities 39,890.00 72,938.25
Net cash paid for purchasing fixed, intangible and other
539,007.00 51,048.00
long-term assets
Cash paid for investment - 9,900,000.00
Net cash received from subsidiaries and other units - -
Other cash paid concerning investing activities - -
Subtotal of cash outflow from investing activities 539,007.00 9,951,048.00
Net cash flows arising from investing activities -499,117.00 -9,878,109.75
III.Cash flows arising from financing activities
Cash received from absorbing investment - -
Incl:Cash received from absorbing minority shareholders - -
Cash received from loan 175,000,000.00 -
Other cash received concerning financing activities - -
Subtotal of cash inflow from financing activities 175,000,000.00 -
Cash paid for settling debts 118,000,000.00 3,000,000.00
Cash paid for dividend and profit distributing or interest paying 4,439,406.07 2,479,252.43
Incl:Dividend and profit of minority shareholder paid by subsidiaries - -
Other cash paid concerning financing activities - -
Subtotal of cash outflow from financing activities 122,439,406.07 5,479,252.43
Net cash flow arising from financing activities 52,560,593.93 -5,479,252.43
IV.Influence on cash due to fluctuation in exchange rate - -81.72
V.Net increase of cash and cash equivalents -17,638,508.74 17,331,865.22
Plus:Balance of cash and cash equivalents at the period begin 30,209,143.04 1,614,187.49
VI.Balance of cash and cash equivalents at the period-end 12,570,634.30 18,946,052.71
（The Notes to the Financial Statements are essential parts of the Finanical Statements）
40
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Statement on Changes of Owners' Equity
Semi-annual of 2014
Prepared by Shenzhen Tellus Holding Co., Ltd In RMB/CNY
Current amount Amount of last year
Items Owners' equity attributable to parent company Owners' equity attributable to parent company
Minority interest Total owners' equity Minority interest Total owners' equity
Share capital Capital reserve Surplus reserves Retained profit Share capital Capital reserve Surplus reserves Retained profit
I.Balance at the end of last year 220,281,600.00 5,315,107.90 2,952,586.32 -106,319,945.78 - 122,229,348.44 220,281,600.00 5,539,271.27 2,952,586.32 -97,009,267.91 - 131,764,189.68
Plus:Changes of accounting policy - - - - - - - - - - - -
Error correction of the last period - - - - - - - - - - - -
II.Balance at this year-begin 220,281,600.00 5,315,107.90 2,952,586.32 -106,319,945.78 - 122,229,348.44 220,281,600.00 5,539,271.27 2,952,586.32 -97,009,267.91 - 131,764,189.68
III.Increase/decrease in this
year(Decrease is listed with"-")
- -66,261.00 - 2,882,919.06 - 2,816,658.06 - -248,916.25 - -4,034,586.49 - -4,283,502.74
（I)Net profit - - - 2,882,919.06 - 2,882,919.06 - - - -4,034,586.49 - -4,034,586.49
（II)Other integrated income - -66,261.00 - - - -66,261.00 - -248,916.25 - - - -248,916.25
Subtotal of (I) and (II) - -66,261.00 - 2,882,919.06 - 2,816,658.06 - -248,916.25 - -4,034,586.49 - -4,283,502.74
(III)Owners' devoted and decrease capital - - - - - - - - - - - -
1.Owners' devoted capital - - - - - - - - - - - -
2.Amount calculated into
- - - - - - - - - - - -
owners' equity paid in shares
3.Other - - - - - - - - - - - -
（IV)Profit distribution - - - - - - - - - - - -
1.Withdrawal of surplus reserves - - - - - - - - - - - -
2Withdrawal of general risk provision - - - - - - - - - - - -
3.Distribution for owners(shareholders) - - - - - - - - - - - -
4.Other - - - - - - - - - - - -
(V)Carrying forward internal owners' equity - - - - - - - - - - - -
1.Capital reserves converted to capital
(share capital)
- - - - - - - - - - - -
2.Surplus reserves converted to capital
(share capital)
- - - - - - - - - - - -
3Remedying loss with profit surplus - - - - - - - - - - - -
4.Other - - - - - - - - - - - -
（VI）Special inventory - - - - - - - - - - - -
1.Withdrawal in this period - - - - - - - - - - - -
2.Used in this period - - - - - - - - - - - -
IV.Balance at the end of this year 220,281,600.00 5,248,846.90 2,952,586.32 -103,437,026.72 - 125,046,006.50 220,281,600.00 5,290,355.02 2,952,586.32 -101,043,854.40 - 127,480,686.94
41
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
SHENZHEN TELLUS HOLDING CO., LTD.
Notes to Financial Statements
Ended as 30 June 2014 Unit: RMB Currency: CNY
I. Company profiles
1. Historical development of the Company
Shenzhen Tellus Holding Co., Ltd. (hereinafter referred to as ―the Company‖ or ―Company‖), former Shenzhen Machinery
Industry Co., Ltd., was founded on 10 November 1986. Shenzhen Machinery Industry Co., Ltd changed to Shenzhen Tellus
Machinery Co. Ltd. dated 2 January 1992. Being approved by the Shenzhen Municipal People’s Government ―Shen Fu Ban
Fu (1992) No.: 1850‖, Shenzhen Tellus Machinery Co. Ltd. reorganized as a public limited company with name changed as
Shenzhen Tellus Machinery Co. Ltd. On 15 March 1993, being approved by branch of Shenzhen Special Economic Zone of
People’s Bank of China ―Shen Ren Yin Fu Zi (1993) No.: 092‖, the Company released 25.98 million registered common A
shares with RMB 1.00 par value as well as 20 million B shares. And the Company renamed as Shenzhen Tellus Holding Co.,
Ltd. dated 30 June 1994 after approval from the Shenzhen Administration for Industry and commerce. Business License for
Legal Person Numbered of the Company: 440301103017750. Headquarter of the Company locates in 3/F, Tellus Building,
Shuibei 2nd Road, Luohu District, Shenzhen, Guangdong Province.
The Company and its subsidiaries (together as ―the Group‖) mainly engaged in the automobile overall services, including
automobile retailing, inspection and maintenance, production of inspection equipment, property lease and property
management service, etc., included in the industry of wholesale business of energy, materials and mechanical-electronic
instruments.
Capital structure of the Company while initial public offering:
Type Amount (Share) Ratio (%)
I. Non-tradable share
Including: State shares 120,900,000 72.45
Total non-tradable shares 120,900,000 72.45
II. Outstanding shares
1. Tradable A-Share 25,980,000 15.57
2. Tradable B-Share 20,000,000 11.98
Total tradable shares 45,980,000 27.55
Total 166,880,000 100.00
All previous changes in the share capital after the establishment of the Company:
(1) Bonus shares in 1993
The Company held the resolution of annual shareholders' general meeting of 1993, distribute dividend of 0.5 Yuan in cash
for every 10 shares and 2 more bonus shares to all shareholders based on the Company’s total share capital of 166,880,000
shares on 31st, Dec., 1993, and the Company’s total share capital changed to 200,256,000 shares.
42
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
On 22nd April 1994, Shenzhen Securities Regulatory Office approved the stock dividend scheme of the Company. After the
implementation of the stock dividend program, the ownership structure of the Company became as follows:
Type Amount (Share) Ratio (%)
State-owned corporate shares 145,080,000 72.45
Domestic public shares 31,176,000 15.57
RMB special stock (B-Share) 24,000,000 11.98
Total 200,256,000 100.00
(2) Bonus shares and capitalization in 1994
On 28th May 1995, the shareholders' general meeting of the Group approved the bonus share and capitalization program
proposed by the board of directors. The Company distributes 0.5 bonus shares to every 10 shares with 0.5 more shares
increased for 0.5 Yuan dividend in cash to all shareholders based on the Company’s total share capital of 200,256,000 shares
on 31st, Dec., 1994, and the Company’s total share capital changed to 220,281,600 shares.
Equity structure of the Company after bonus scheme implemented:
Type Amount (Share) Ratio (%)
State-owned corporate shares 159,588,000 72.45
Domestic public shares 34,293,600 15.57
RMB special stock (B-Share) 26,400,000 11.98
Total 220,281,600 100.00
(3) The changes of controlling shareholders in 1997
On 31st March 1997, in accordance with the approval of ―Shenfuhan [1997] No.19‖ and ―Zhengjianhan [1997] No.5‖, the
People's Government of SZ Municipality and China Securities Regulatory Commission agreed Shenzhen Investment and
Management Company to transfer its 159,588,000 shares of State shares to ―Shenzhen Special Development Group Co.,
Ltd‖ (hereinafter referred to as ―SDG‖), which took proportion of 72.45% in the total share capital.
(4) Reform of non-tradable shares in 2006
In December 2005, Shenzhen State-owned Assets Supervision and Administration Commission approved the non-tradable
shares reform program of Shenzhen Tellus (Group) Ltd. which reported by the Company’s non-tradable shareholders -
Shenzhen Special Development Group Co., Ltd.
On 4th January 2006, SDG paid 13,717,440 shares of stock to the shareholders of A shares in circulation as the consideration
of the non-tradable shares reform, and SDG held 66.22% of the Company’s total share capital after the non-tradable shares
reform. After the implementation of the non-tradable shares reform program, the ownership structure of the company
became as follows:
Type Amount (Share) Ratio (%)
State-owned corporate shares 145,870,560 66.22
43
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Type Amount (Share) Ratio (%)
Domestic public shares 48,011,040 21.80
RMB special stock (B-Share) 26,400,000 11.98
Total 220,281,600 100.00
As of 30 June 2014, the Company has issued 220, 281,600 shares accumulatively, refer to Note VII. 31for more details
The business scope of the Company includes: invest and set up industries (specific projects to be reported separately);
Domestic commerce, Materials supply and marketing (excluding the franchise, special control and monopoly of goods);
Leasing and management of owned property. Operate the self-manufactured products of the Company and the affiliated
enterprises, the self-use production materials, the metalworking machines, and the import and export business of universal
parts, therein to, the import and export business is handled in accordance with Shen Mao Guan Zheng Zi No. 098 foreign
trade accreditation certificate.
The parent company of the Group is Shenzhen Special Development Group Co., Ltd., and the ultimate controller is
Shenzhen State-owned Assets Supervision and Administration Commission.
This financial statement is approved for disclosure by resolution from the Board dated 7 August 2014.
II. Basis Preparation of the Financial Statements
The financial statements of the Group is prepared based on the going-concern assumption in accordance with the actually
occurred transactions and events and the ―Accounting Standards for Business Enterprises – Basic Standards‖ and 38 specific
accounting standards promulgated by the ministry of finance on 15th, Feb., 2006, the subsequently promulgated application
guide and interpretation of the accounting standards for business enterprises and other relevant provisions (hereinafter
collectively referred to as ―ASBE‖), and China Securities Regulatory Commission ―information disclosure regulations No.15
for the companies publicly issuing securities - general provisions of financial reports‖ (2010 Revision)
In accordance with the relevant regulations of Accounting Standards for Business Enterprises, the financial accounting of the
Group is based on the accrual basis. Except for the financial instruments, this financial statement takes the historical cost as
the measuring base. If the assets decrease in value, count and withdraw the corresponding impairment in accordance with the
relevant provisions.
III. Statement of Compliance with the Accounting Standards for Business Enterprises
The financial statements prepared by the Groups meet the requirements of the Accounting Standards for Business Enterprises,
truthfully and completely reflect the financial situation of the Company and the Group on 30th, June, 2014, and the business
performance and cash flow in the first half year of 2014. In addition, the financial statements of the Company and the Group
meet the disclosure requirements of ―Preparation Regulation of Information Disclosure for Enterprise with Security Issued
Publicly No.15—General Rules of Financial Report‖ revised by China Securities Regulatory Commission in all significant
aspects.
IV. Main accounting policy and estimate
1. Fiscal period
The accounting period of the Group includes annual and interim, accounting interim refers to the reporting period shorter
than a complete fiscal year. The fiscal year of the Group adopts the Gregorian calendar, i.e. from 1 January to 31 December
for each year.
44
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
2. Book-keeping currency
RMB is the currency in the major economic environment of the Company and its sub-company which take RMB as the
book-keeping currency. The Group adopts RMB as the currency when preparing this financial statement.
3. The accounting treatment of business merger
Business merger refers to the transactions or matters that two or more than two individual enterprises form a reporting entity.
Business merger includes the business merger under the common control and the different control.
(1) Business merger under the common control
Business merger under the common control means the enterprises participated in the merger are subject to the ultimate
control of the same party or the same multi-party before and after the merger, and the control is not temporary. For the
business merger under the same control, the party obtains the control rights of other enterprises participated in the merger on
the merger date is the merging party, and other enterprises participated in the merger are the merged party. The merger date
refers to the date that the merging party obtains the control rights of the merged party.
The assets and liabilities of the merging party should be measured in accordance with the book value of the combined party
on the combining date. The balance between the book value of the net asset obtained by the merging party and the book
value of the merger consideration (or the total face value of the issued shares) paid by the merging party, and adjust the
capital reserve (share premium); for the capital reserve (share premium) insufficient to reduce, adjust the retained earnings.
All direct expenses the merging party spent for the business merger are included in the current profit and loss when the
business merger occurred.
(2) Business merger under the different control
Business merger under the different control means the enterprises participated in the merger are not subject to the ultimate
control of the same party or the same multi-party before and after the merger. For the business merger under the different
control, the party obtains the control rights of other enterprises participated in the merger on the acquisition date is the
acquirer, and other enterprises participated in the merger are the acquiree. The acquisition date refers to the date that the
acquirer obtains the control rights of the acquiree.
As for the business merger under the different control, the merger costs contain the assets paid by the acquirer for obtaining
the control rights of the acquiree on the acquisition date, the liabilities incurred or assumed, and the fair value of the issued
equity securities. The intermediary fees such as auditing, legal services and consulting services costs and other
administrative costs incurred by the business merger are charged to the current profit and loss. The transaction costs of the
equity securities or debt securities issued as the combination consideration by the acquirer are reckoned in the initially
recognized amount of the equity securities or debt securities. As for the involved or existing consideration reckoned in the
merger costs in accordance with the fair value on the acquisition date, correspondingly adjust the consolidated goodwill for
these needs to be adjusted or possess consideration because new or further evidence appears for the situations existing on the
acquisition date within 12 months after the acquisition date. As for the business merger achieved in stages by multiple
exchanges and transactions, the stock rights of the acquiree held before the acquisition date should be re-measured in
accordance with the stock rights’ fair value on the acquisition date in the consolidated financial statement of the Group, the
balance between the fair value and its book value is reckoned in the current investment income on the acquisition date,
meanwhile, transfer other consolidated income related to the stock rights of the acquiree held before the acquisition date to
the current investment income, and the merger costs are the sum of the fair values of the stock rights of the acquiree held
before the acquisition date and the stock rights of the acquiree increased and held on the acquisition date.
45
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
The merger costs of the acquirer and the net identifiable assets obtained in the merger are reckoned in accordance with the
fair value on the acquisition date. The balance of which the merger costs are more than the net identifiable assets’ fair value
share of the acquiree obtained in the merger on the acquisition date is recognized as goodwill. For those whose merger costs
are less than the net identifiable assets’ fair value share of the acquiree obtained in the merger, recheck the obtained
identifiable assets, liabilities, and the fair value with contingent liability of the acquiree, and the measurement of the merger
costs at first, while for those whose merger costs are still less than the net identifiable assets’ fair value share of the acquiree
obtained in the merge after rechecking, reckon its the balance in the current profit and loss.
For the deductable temporary difference obtained by the acquirer from the acquiree that is not confirmed because of not
meeting the assets confirmation requirements of the deferred income taxes on the acquisition date, if there is new or further
information states that the relevant conditions on the acquisition date has already existed and the economic interests on the
acquisition date brought by the deductable temporary difference can be realized by the acquiree within 12 months after the
acquisition date, then confirm the relevant deferred income tax assets, and decrease the goodwill, as for the goodwill
insufficient for reducing, confirm the difference to be the current profit and loss; except for the above-mentioned cases,
reckon those deferred income tax assets related to the business merger in the current profit and loss.
4 Preparing method of consolidated financial statements
(1) Determinate principles of range for consolidation financial statement
Consolidation range for consolidation financial statement should be recognized based on the control.
Controlling means the Company has the ability to decide the financial and operation policy of the invested
unit and can obtain profit from the unit’s business operation. Range of consolidation including the
Company and all subsidiaries. Subsidiary means the enterprise or subject controlled by the Company.
(2) Preparing method of consolidated financial statements
Since the date of gaining the net assets and the actual control rights of the production and operation decision-making of the
subsidiaries, the Group has started to bring it into the consolidation scope; stop to bring into the consolidation scope since
the date of losing the actual control rights. As for the disposed subsidiaries, the business performance and cash flow before
the disposal have been suitably included in the consolidated income statement and the consolidated cash flow statement; as
for the subsidiaries currently disposed; don’t adjust the opening balance of the consolidated balance sheet. For the
subsidiaries increased by the business merger under the different control, the business performance and cash flow after its
acquisition date have been suitably included in the consolidated income statement and the consolidated cash flow statement,
and don’t adjust the opening balance and correlation date of the combined financial statement. For the subsidiaries increased
by the business merger under the common control, the business performance and cash flow from the beginning period of the
merger to its merger date have been suitably included in the consolidated income statement and the consolidated cash flow
statement, and adjust the correlation date of the combined financial statement at the same time.
When preparing the consolidated financial statements, for the accounting policies adopted by the subsidiaries and the
Company being inconsistent during the accounting time period, adjust in accordance with the accounting policies of the
Company and the financial statements of the subsidiaries during the accounting time period. As for the subsidiaries obtained
by the business merger under the different control, adjust the financial statements based on the fair value of the net
identifiable assets on the acquisition date.
46
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
All significant intra-group current account balances, transactions and unrealized profits are offset in the preparation of
consolidated financial statements.
The stockholders' equity of the subsidiaries and the shares not belong to the Company in the current net profit or loss are
respectively served as the separate presentation in the stockholders' equity and net profits of the minority interest and
minority interest income in the consolidated financial statements. The shares of the current net profit or loss of the
subsidiaries that belong to the minority interest are listed under net profit item in the consolidated profit statement as
―minority interest income‖ item. Reduce the minority interest for those that the subsidiaries’ losses shared by the minority
shareholders exceed the shares that the minority shareholders gained from the owner's equity at the beginning period of this
subsidiary.
When losing the control rights of the original sub companies because of disposing some equity investment
or other reasons, re-measure the residual equity in accordance with its fair value on the date of losing the
control rights. Use the sum of the consideration obtained by disposing the stock rights and the fair value of
the residual equity to minus the balance among the net assets’ shares of the original sub companies
continuously calculated since the acquisition date in accordance with the original shareholding ratio, and
then reckon in the current investment income when losing the control rights. Transfer the other
consolidated incomes related to the equity investment of the original sub companies to the current
investment income when losing the control rights. Thereafter, do the follow-up measurement for this part’s
residual equity in accordance with the relevant provisions of ―Accounting Standards for Business
Enterprises No.2 - long-term equity investment‖ or ―Accounting Standards for Business Enterprises No.22
- financial instruments recognition and measure’, refer to the Note IV 10 ―long-term equity investment‖ or
the Note IV 7 ―financial instruments‖ for details
5. Determination criteria of cash and cash equivalent
Cash and cash equivalent of the Group including stock cash, deposits available for payment at any time
and the investment held by the Group with the follow characters obtained at the same time: short term
(expire within 3 months commencing from purchase day), active liquidity, easy to convert to
already-known cash, and small value change risks.
6. Foreign Currency Operations
(1) Basis for translation of foreign currency transactions
The foreign currency transactions of the Company, when initially recognized, are translated into functional currency at the
prevailing spot exchange rate on the date of exchange (usually refers to the middle rate of the exchange rate for the day as
quoted by the People’s Bank of China, the same below) while the Company’s foreign currency exchange operations and
transactions in connection with foreign currency exchange shall be translated into functional currency at the exchange rate
actually adopted.
Foreign currency business is accounted with amount denominated in RMB as translated at the spot exchange rate as of the
occurrence day of such business. The occurred foreign currency exchange business or transactions with foreign currency
exchange involved shall be translated at the effective exchange rate (i.e. exchange rate adopted by banks for such
transactions) adopted by such transaction.
47
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(2) Basis for translation of foreign currency monetary items and foreign currency non-monetary items
On the balance sheet date, foreign currency monetary items shall be translated at the spot exchange rate on
the balance sheet date. All differences are included in the consolidated income statement, except for: ①
the differences arising from foreign currency borrowings related to the acquisition or construction of fixed
assets which are qualified for capitalization; and ② except for other carrying amounts of the amortization
costs, the differences arising from changes of the foreign currency items available for sale.
The foreign currency non-monetary items measured at historical cost shall still be measured by the
functional currency translated at the spot exchange rate on the date of the transaction. Foreign currency
non-monetary items measured at fair value are translated at the spot exchange rate on the date of
determination of the fair value. The difference between the amounts of reporting currency before and after
the translation will be treated as changes in fair value (including changes in foreign exchange rates) and
recognized in profit or loss for the period or recognized as other consolidated income and included in the
capital reserves.
7. Financial instruments
(1) Method of determination of the fair value for financial assets and financial liabilities
The fair value refers to the amount, at which both willing parties to a fair transaction who are familiar with
the condition exchange their assets or clear off their debts under fair conditions. Financial instruments exist
in an active market. Fair value is determined based on the quoted price in such market. An active market
refers to where pricing is easily and regularly obtained from exchanges, brokers, industrial organizations
and price-fixing service organizations, representing the actual price of a market transaction that takes place
in a fair deal. While financial instruments do not exist in an active market, the fair value is determined
using valuation techniques. Valuation technologies include reference to be familiar with situation and
prices reached in recent market transactions entered into by both willing parties, reference to present fair
values of similar other financial instruments, cash flow discounting method and option pricing models.
(2) Classification, recognition and measurement of the financial assets
By way of buying and selling the financial assets in a regular way, recognition and derecognition are
carried out according to the accounts on the transaction day. Financial assets are divided into financial
assets at fair value through profit or loss, held-to-maturity investments, loans, accounts receivable and
available for-sale financial assets when they are initially recognized. Financial assets and financial
liabilities are initially recognized at fair value. For financial assets and financial liabilities classified as fair
value through profit or loss, relevant transaction costs are directly recognized in profit or loss for the
period. For financial assets classified as other categories, relevant transaction costs are included in the
amount initially recognized.
①Financial assets carried at fair value through profit or loss for the current period
48
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
They include financial assets held for trading and financial assets designated as at fair value through profit
or loss for the current period.
Financial assets may be classified as financial assets held for trading if one of the following conditions is
met: A. the financial assets is acquired or incurred principally for the purpose of selling it in the near term;
B. the financial assets is part of a portfolio of identified financial instruments that are managed together
and for which there is objective evidence of a recent pattern of short-term profit taking; or C. the financial
assets is a derivative, excluding the derivatives designated as effective hedging instruments, the derivatives
classified as financial guarantee contract, and the derivatives linked to an equity instrument investment
which has no quoted price in an active market nor a reliably measured fair value and are required to be
settled through that equity instrument.
A financial asset may be designated as at FVTPL upon initial recognition only when one of the following
conditions is satisfied: A. Such designation eliminates or significantly reduces a measurement or
recognition inconsistency that would otherwise result from measuring assets or recognizing the gains or
losses on them on different bases; or B. The financial asset forms part of a group of financial assets or a
group of financial assets and financial liabilities, which is managed and its performance is evaluated on a
fair value basis, in accordance with the Group’s documented risk management or investment strategy, and
information about the grouping is reported to key management personnel on that basis.
Financial assets carried at fair value through profit or loss for the current period is subsequently
measured at fair value. The gain or loss arising from changes in fair value and dividends and
interest income related to such financial assets are charged to profit or loss for the current
period.
Held-to-maturity investments
They are non-derivative financial assets with fixed maturity dates and fixed or determinable
payments that the Group has positive intent and ability to hold to maturity.
Held-to-maturity investments are subsequently measured at amortized cost using the effective
interest method. Gain or loss on derecognition, impairment or amortization is recognized
through profit or loss for the current period.
The effective interest method is a method of calculating the amortized cost of a financial
asset and of allocating interest income or expense over each period based on the effective
49
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
interest of a financial asset or a financial liability (including a group of financial assets or
financial liabilities). The effective interest is the rate that discounts future cash flows from the
financial asset or financial liability over its expected life or (where appropriate) a shorter
period to the carrying amount of the financial asset or financial liability.
In calculating the effective interest rate, the Group will estimate the future cash flows
(excluding future credit losses) by taking into account all contract terms relating to the
financial assets or financial liabilities whilst considering various fees, transaction costs and
discounts or premiums which are part of the effective interest rate paid or received between
the parties to the financial assets or financial liabilities contracts.
③ Loans and receivable
They are non-derivative financial assets with fixed or determinable payments that are not
quoted in an active market. Financial assets, including bills receivable, accounts receivable,
interest receivable, dividends receivable and other receivables, are classified as loans and
receivables by the Group.
Loans and receivables are subsequently measured at amortized cost using the effective interest method.
Gain or loss arising from derecognition, impairment or amortization is recognized in current profit or loss.
④Available-for-sale financial assets
They include non-derivative financial assets that are designated in this category on initial recognition, and
the financial assets other than the financial assets at fair value through profit and loss, loans and
receivables and held-to-maturity investments.
Available-for-sale financial assets are subsequently measured at fair value. The gain or loss on change in
fair value are recognized as other comprehensive income and charged to capital reserves, except for
impairment loss and exchange differences arising from foreign monetary financial assets and amortized
cost which are accounted for through profit or loss for the current period. The financial assets will be
transferred out of the financial assets on derecognition and accounted for through profit or loss for the
current period.
Interests received from available-for-sale financial assets held and the cash dividends declared by the
investee are recognized as investment income.
(3) Impairment of financial assets
50
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
In addition to financial assets at fair value through profit or loss for the current period, the Group reviews
the book value of other financial assets at each balance sheet date and provide for impairment where there
is objective evidence that financial assets are impaired.
For a financial asset that is individually significant, the Group assesses the asset individually for
impairment. For a financial asset that is not individually significant, the Group assess the asset individually
for impairment or include the asset in a group of financial assets with similar credit risk characteristics and
collectively assess them for impairment. If it is determined that no objective evidence of impairment exists
for an individually assessed financial asset, whether the financial asset is individually significant or not, the
financial asset is included in a group of financial assets with similar credit risk characteristics and
collectively assessed for impairment. Financial assets for which an impairment loss is individually
recognized are not included in the collective assessment for impairment.
①Impairment of held-to-maturity investments, loans and receivables
The carrying amount of financial assets measured at costs or amortized costs are subsequently reduced to
the present value discounted from its projected future cash flow. The reduced amount is recognized as
impairment loss and recorded as profit or loss for the period. After recognition of the impairment loss from
financial assets, if there is objective evidence showing recovery in value of such financial assets impaired
and which is related to any event occurring after such recognition, the impairment loss originally
recognized shall be reversed to the extent that the carrying value of the financial assets upon reversal will
not exceed the amortized cost as at the reversal date assuming there is no provision for impairment.
Impairment of available-for-sale financial assets
In the event that decline in fair value of the available-for-sale equity instrument investment is regarded as
―severe decline‖ or ―non-temporary decline‖ on the basis of comprehensive related factors, it indicates that
there is impairment loss of the available-for-sale equity instrument investment. In particular, ―severe
decline‖ refers to accumulative decline in fair value is more than 20%. ―Non-temporary decline‖ refers to
the fair value decreased continuously for more than 12 months.
When the available-for-sale financial assets impair, the accumulated loss originally included in the capital
reserve arising from the decrease in fair value was transferred out from the capital reserve and included in
the profit or loss for the period. The accumulated loss that transferred out from the capital reserve is the
balance of the acquired initial cost of asset, after deduction of the principal recovered, amortized amounts,
current fair value and the impairment loss originally included in the profit or loss.
After recognition of the impairment loss, if there is objective evidence showing recovery in value of such
financial assets impaired and which is related to any event occurring after such recognition in subsequent
periods, the impairment loss originally recognized shall be reversed. The impairment loss reversal of the
51
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
available-for-sale equity instrument will be recognized as other consolidated income, and the impairment
loss reversal of the available-for-sale debt instrument will be included in the profit or loss for the period.
When an equity investment that is not quoted in an active market and the fair value of which cannot be
measured reliably, or the impairment loss of a derivative financial asset linked to the equity instrument that
shall be settled by delivery of that equity instrument, then it will not be reversed.
(4) Recognition and measurement of transfers of financial asset
Financial asset that satisfied any of the following criteria shall be derecognized: the contract right to
recover the cash flows of the financial asset has terminated; the financial asset, along with substantially
all the risk and return arising from the ownership of the financial asset, has been transferred to the
transferee; and the financial asset has been transferred to the transferee, and the transferor has given up
the control on such financial asset, though it does not assign maintain substantially all the risk and return
arising from the ownership of the financial asset.
When the entity does not either assign or maintain substantially all the risk and return arising from the
ownership of the financial asset and does not give up the control on such financial asset, to the extent of its
continuous involvement in the financial asset, the entity recognizes it as a related financial asset and
recognizes the relevant liability accordingly. The extent of the continuous involvement is the extent to
which the entity exposes to changes in the value of such financial assets.
On derecognition of a financial asset, the difference between the following amounts is recognized in profit
or loss for the current period: the carrying amount and the sum of the consideration received and any
accumulated gain or loss that had been recognized directly in equity.
If a part of the financial assets qualifies for derecognition, the carrying amount of the financial asset is
allocated between the part that continues to be recognized and the part that qualifies for derecognition,
based on the fair values of the respective parts. The difference between the following amounts is
recognized in profit or loss for the period: the sum of the consideration received and the carrying amount
of the part that qualifies for derecognition and the aforementioned carrying amount.
(5) Classification and measurement of financial liabilities
At initial recognition, financial liabilities are classified either as ―financial liabilities at fair value through
profit or loss‖ or ―other financial liabilities‖. Financial liabilities are initially recognized at fair value. For
financial liabilities classified as fair value through profit or loss, relevant transaction costs are directly
recognized in profit or loss for the period. For financial liabilities classified as other categories, relevant
transaction costs are included in the amount initially recognized.
① Financial liabilities at fair value through profit or loss for the period
52
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
The criteria for a financial liability to be classified as held for trading and designated as at financial
liabilities at fair value through profit or loss are the same as those for a financial asset to be classified as
held for trading and designated as at financial assets at fair value through profit or loss.
Financial liabilities at fair value through profit or loss for the period are subsequently measured at fair
value. The gain or loss arising from changes in fair value and dividends and interest income related to such
financial liabilities are included into the current profit or loss.
Other financial liabilities
Derivative financial liabilities which are linked to equity instruments that are not quoted in an active
market and the fair value of which cannot be measured reliably measured, and which shall be settled by
delivery of equity instruments are subsequently measured at cost. Other financial liabilities are
subsequently measured at amortized cost using the effective interest method. Gains or losses arising from
derecognition or amortization is recognized in profit or loss for the current period.
(6) Derecognition of financial liabilities
Financial liabilities are derecognized in full or in part only when the present obligation is
discharged in full or in part. An agreement is entered between the Group (debtor) and a
creditor to replace the original financial liabilities with new financial liabilities with
substantially different terms, derecognize the original financial liabilities as well as recognize
the new financial liabilities.
When financial liabilities is derecognized in full or in part, the difference between the
carrying amount of the financial liabilities derecognized and the consideration paid (including
transferred non-cash assets or new financial liability) is recognized in profit or loss for the
current period.
(7) Offset of Financial Assets and Financial Liabilities
If the Group owns the legitimate rights of offsetting the recognized financial assets and financial liabilities,
which are enforceable currently, and the Group plans to realize the financial assets or to clear off the
financial liabilities by net amount method, the amount of the offsetting financial assets and financial
liabilities shall be reported in the balance sheep. Otherwise, financial assets and financial liabilities are
presented separately in the balance sheet without offsetting.
(8) Equity instruments
Equity instruments are any contract that evidences a residual interest in the assets of an entity after
deducting all of its liabilities. For equity instruments, the price received during the issue shall be added to
shareholder’s equity after reducing the transaction fees.
53
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
The distribution (excluding the dividends) to the equity instrument holders by the Group shall reduce the
shareholder’s equity. The Group shall not recognize the changes of the equity instruments’ fair value.
8. Account receivable
Account receivable including receivables and other account receivables etc.
(1) Recognition standards for bad debt provision
On balance sheet date, the Company examined book value of the account receivable, if the followed objective evidence has
been show for impairment occurred, impairment provision shall withdrawal: ①the debtor has serious financial difficulties;
②debtor violated the terms of the contract (such as interest or principal payment default or overdue etc.); ③debtor probably
close down or exercise other financial restructuring; and ④other objective evidence showing impairment occurred on
receivables.
(2) Withdrawal method for bad debt provision
①Recognition criteria and depreciation method for account receivable with large single amount and accrued for provision of
bad debt on a single basis
Account receivable with over RMB one million and other account receivable with over RMB 500,000 are recognized as
account receivable with large single amount.
The Company exercise impairment test separately on account receivable with large single amount, if no impairment been
found in financial assets after separate testing, they shall be included in portfolios of accounts receivable with similar credit
risk features for impairment tests.
For accounts receivable with confirmed impairment losses after separate tests, they shall not be included in portfolios of
accounts receivable with similar credit risk features for impairment tests.
②Recognition criteria and depreciation method for account receivable with accrued for provision of bad debt on credit risk
portfolio basis
A. Recognition basis for credit risk characteristics portfolio
As for the account receivable with minor single amount and those with major amount without impairment had been found
after testing on a single basis, the Company grouping the financial assets according to similarity and relativity of the credit
risk characteristics. The credit risk characteristics usually reflect the repaying capability for all due amount from debtors, in
line with the terms of the contract, and related with the measurement of future cash flow on assets which has been examined.
Recognition basis for different portfolio:
Item Basis
Divide the portfolio on the age of account receivable as a credit risk
Age portfolio
characteristics
B. Depreciation method for bad debt provision recognized by credit risk characteristics portfolio
At the time of impairment testing, the bad debt amount will recognized by the estimated losses, according to historical losses
experience, which has been occurred in account receivable portfolio, and current economic status as well as portfolio
structure and similar credit risk characteristics (debt paying capability for debtor based on terms of the contract).
Depreciation method of bad debt provision in different portfolio:
Item Depreciation method
54
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Depreciation method
Age portfolio Accrual bad debt provision by aging of accounts
a. Depreciation method of bad debt provision by aging of accounts in portfolio
Age Accrual ratio of account receivable (%) Accrual ratio of other receivables (%)
Within 1 year (including one year, the same
below) No accrual No accrual
1-2 years 5 5
2-3 years 20 20
Over 3 years 50 50
③Accounts receivable that are individually insignificant but with bad debt provision provided on an individual basis:
Account receivable with RMB one million at most and other account receivable with RMB 500,000 at most are recognized
as account receivable with insignificant single amount.
As for the account receivable with insignificant single amount but with followed features, exercise impairment separately, if
there has evidence of impairment, provision for bad debts shall be made at the difference of present value of estimated future
cash flows in short of their book values, and shall be recognized as impairment losses: account receivable with dispute and
arbitration involved or exist with the counter party; receivables which has obvious evidence that the debtor probably unable
to performed payment obligations etc.
(3) Reversal of bad debt provisions
If there is evidence showing that the value of the account receivable has been recovered, and that the
recovery is objectively related to events after recognition of the loss, the originally recognized impairment
loss should be reversed and included in current profit and loss. However, the book values after such
reversal shall not exceed the amortized costs of the account receivable on the reversal date, assuming there
is no provision for impairment.
9. Inventories
(1)Classification of inventories
Inventory including raw materials, stock commodity and low value consumables etc.
(2) Pricing for inventories delivered and obtained
Purchase and storage of vary inventories are value at actual costs; delivered inventory value on
weighted average method while low value consumables and wrappage value on gradation amortization
method.
(3)Recognition for net realizable value of inventories and withdrawal method for inventory impairment provision
55
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Net realizable value refers to the amount resulted by inventory’s estimated sale price minor the cost, which is going to
occurred till end of the completion, estimated sales expenses and relevant taxes, in daily activities. At the time of recognizing
the net realizable value for inventory, on basis of unambiguous evidence, take the purpose of inventory held and influence of
events after the balance sheet date into account at the same time.
On balance sheet date, measure of the inventory is made as the lower of their cost and or net realizable values. Provision for
inventory depreciation reserve are made while the net realizable values below the cost. Inventory falling price reserves
withdrawal usually base on the difference of the cost of single inventory which over the net realizable value.
After inventory impairment provision, if any factor rendering write-downs of the inventories has been
eliminated as net realizable value higher than its book value resulted, the amounts written down are
recovered and reversed from the inventory depreciation reserve, which has been provided for. The reversed
amounts are included into the current profit and loss.
(4) Inventory system was the perpetual inventory system.
10. Long-term equity investment
(1) Determination of investment cost
For a long-term equity investment acquired through a business combination involving enterprises under
common control, the initial investment cost of the long-term equity investment shall be the absorbing
party’s share of the carrying amount of the owner’s equity of the party being absorbed at the date of
combination. For a long-term equity investment acquired through business combination not involving
enterprises under common control, the business combination cost is the aggregate of assets paid, liabilities
incurred or undertook and fair value of equity securities issued by the acquirer. Agent fees incurred by the
acquirer for the acquisition such as audit, legal service, and valuation and consultation fees, and other
related administration expenses are charged to profit or loss in the current period at the time such expenses
incurred. Transaction cost incurred for issuing equity securities or debt securities, which are used as
consideration for the combination, are included in the initial recognition amount of the equity securities or
debt securities.
The long-term equity investment acquired through means other than a business combination shall be
initially measured at its cost. Such cost is depended upon the acquired means of long-term equity
investments, which is recognized based on the purchase cost actually paid by the Group in cash, the fair
value of equity securities issued by the Group, the agreed value of investment contract or agreement, the
fair value or original carrying amounts of the non-monetary asset exchange transaction which the asset will
be transferred out of the Group, and the fair value of long-term equity investment itself. The costs, taxes
and other necessary expenses that are directly attributable to the acquisition of the long-term equity
investments are also included in the investment cost.
56
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(2) Subsequent measurement and profit or loss recognition
Cost method is used to account for a long-term equity investment where the investor does not have joint
control or significant influence over the investee, and the investment is not quoted in an active market and
its fair value cannot be reliably measured. Long-term equity investments with joint control or significant
influence on the investee are accounted for using equity method. Long-term equity investment without
control or joint control or significant influence with a fair value which can be reliably measured is
accounted for as available-for-sale financial assets or financial assets measured at fair value with any
change in fair value charged to profit or loss.
In addition, long-term equity investments with control on the investee are accounted for using cost method
and record in the Company’s financial statements.
① Long-term equity investments accounted for using the cost method
Under the cost method, a long-term equity investment is measured at its initial investment cost. Except
receiving the actual consideration paid for the investment or the declared but not yet distributed cash
dividends or profits which is included in the consideration, investment gains for the period is recognized as
the cash dividends or profits declared by the investee.
② Long-term equity investments accounted for using the equity method
Under the equity method, where the initial investment cost of a long-term equity investment exceeds the
investor’s interest in the fair value of the investee’s identifiable net assets at the acquisition date, no
adjustment shall be made to the initial investment cost. Where the initial investment cost is less than the
investor’s interest in the fair value of the investee’s identifiable net assets at the acquisition date, the
difference shall be charged to profit or loss for the current period, and the cost of the long term equity
investment shall be adjusted accordingly.
Under the equity method, investment gain or loss represents the Group’s share of the net profits or losses
made by the investee for the current period. The Group shall recognize its share of the investee’s net
profits or losses based on the fair values of the investee’s individual separately identifiable assets at the
time of acquisition, after making appropriate adjustments thereto in conformity with the accounting
policies and accounting periods of the Group. The unrealized gain or loss from internal transactions
entered into between the Group and its associated enterprises and joint ventures is set off according to the
shareholding attributable to the Group and accounted for as investment income and loss based such basis.
However, the unrealized gain or loss from internal transactions entered into between the Group and its
investee is not set up if belonging to impairment loss from assets transferred according to regulations such
as ―Accounting Standards for Business Enterprises No. 8 ―Assets impairment‖. In respect of the other
consolidated income of investees, the carrying amount of long-term equity investments is accordingly
adjusted and recognized as other consolidated income and included in the capital reserves.
57
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
The Group’s share of net losses of the investee shall be recognized to the extent that the carrying amount
of the long-term equity investment together with any long-term interests that in substance form part of the
investor’s net investment in the investee are reduced to zero. If the Group has to assume additional
obligations, the estimated obligation assumed shall be provided for and charged to the profit or loss as
investment loss for the period. Where the investee is making profits in subsequent periods, the Group shall
resume recognizing its share of profits after setting off against the share of unrecognized losses.
If there is debit variation in relation to the long-term equity investments in associates and joint venture held
prior to first adoption of the Accounting Standards for Business Enterprises by the Group on 1 January
2007, the amounts amortized over the original residual term using the straight-line method is included in
the profit or loss for the period.
③ Acquisition of minority interests
Upon the preparation of the consolidated financial statements, since acquisition of minority interests
increased of long-term equity investment which was compared to fair value of identifiable net assets
recognized which are measured based on the continuous measurement since the acquisition date (or
combination date) of subsidiaries attributable to the Group calculated according to the proportion of newly
acquired shares, the difference of which recognized as adjusted capital surplus, capital surplus insufficient
to set off impairment and adjusted retained earnings.
④ Disposal of long-term equity investments
In these consolidated financial statements, where the parent company disposes of a portion of the long term
equity investments in a subsidiary without a change in control, the difference between disposal cost and
disposal of long-term equity investments relative to the net assets of the subsidiary is charged to the
owners’ equity. As for the disposal of a portion of the long term equity investments in a subsidiary by the
parent company leading to lose of control over such subsidiary, it shall be accounted for under the relevant
accounting policies described in Note IV.4
(2) Headed ―preparation methods for consolidated financial statements‖.
On disposal of a long-term equity investment otherwise, the difference between the carrying amount of the
investment and the actual consideration paid is recognized through profit or loss in the current period.
Where the equity method is adopted, other comprehensive income attributable to the long term equity
investments previously included in shareholders’ equity shall be transferred to through profit or loss in the
current period on a pro-rata basis. The remaining equity shall be recognized as the long-term equity
investments or other relevant financial assets based on the carrying amount and subsequently measured in
accordance with the accounting policies of the foresaid long-term equity investments or financial assets.
The retrospective adjustment shall be made in accordance with the relevant provisions if the remaining
equity is accounted for using the equity method instead of the cost method.
(3) Recognition of having joint control or significant influence over the investee
The term ―control‖ means that the Group has the power to decide an enterprise’s financial and operating
policy, pursuant to which, the Group can get the power to obtain benefits from its operating activities. Joint
58
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
control is the contractually agreed sharing of control over an economic activity, which only exists when
relevant and important financial affairs and management decisions related to such economic activity
require sharing of control by investors who unanimously agree upon. Significant influence is the power to
participate in the financial and operating policy decisions of an enterprise, but to fail to control or joint
control the formulation of such policies together with other parties. In determining whether there is control
or significance influence over the investee, potential voting right factors (such as the convertible corporate
bonds for the period and the exercisable stock warrants for the period of the investee and other invested
units held) were taken into account.
(4) Impairment test method and impairment provision
The Group assesses at each balance sheet date whether there is any indication that any
long-term equity investments may be impaired. If there is any evidence indicating that an
asset may be impaired, recoverable amount shall be estimated for the individual asset. If the
recoverable amount of an asset is less than its carrying amount, the reduction is recognized as
an impairment loss and charged to profit or loss for the current period. A provision for
impairment loss of the asset is recognized accordingly.
An impairment loss recognized on long-term equity investments shall not be reversed in a
subsequent period.
11. Investment real estate
Investment real estate is the real estate that held by the Company for purpose of obtaining rent or capital appreciation or both
purpose received. Investment real estate including rented land use right, land use right held ready for transfer after
appreciation and rented buildings etc.
Investment real estate is measured according to the initial cost; the Company adopts the cost model to have follow-up
measurements of the investment real estate. In which the depreciation method and impairment provision recognition of a
building shares the same method with fixed assets’ calculation, the amortizing method of land use right and impairment
provision recognition shares the same method with intangible assets’ calculation.
Impairment test method and accrual of depreciation reserves for the investment real estate please found in ―17.impairment of
non-current and non-financial assets‖ in Note IV.
At the time of investment real estate disposed, or permanently out of use and unable to obtained economic benefits from
disposal, the investment real estate shall be de-recognized. The amount after deducted book value and relevant taxes from
income from disposal of real estate sold, transfer, scrap or derogate, shall reckoned into current gains/losses.
12. Fixed assets
(1) Recognition criteria of fixed assets
Fixed assets refer to the tangible assets held for the purpose of producing commodities, rendering services, renting or
business management with useful lives exceeding one fiscal year.
59
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(2) Depreciation method of fixed assets
The initial measurement of a fixed assets shall be made at its cost and consider expected discard expenses factors alternatives.
Accrual depreciation of fixed assets shall be made based on straight-line depreciation within the service life since the second
month, when the fixed assets reached its expected condition for use. Service life, estimated net residual value and annual
depreciation rate for vary fixed assets are as:
Annual depreciation
Type Depreciation term (year) Residual rate (%)
rate (%)
House and buildings 35 3 2.77
Machinery equipment 12 3 8.08
Transportation equipment 7 3 13.86
Electronic equipment 7 3 13.86
Office and other equipment 7 3 13.86
Decoration charge for self-owned houses 10 0 10.00
Estimated net residual value is the amount obtained from disposal of such fixed assets after estimated disposal expense
deducted, on assumption basis of the fixed assets has full estimated service life and in an anticipating condition of service
life terminated.
(3) Impairment test method and accrual of depreciation reserves for fixed asset
Impairment test method and accrual of depreciation reserves for fixed asset please found in ―17. Impairment of non-current
and non-financial assets‖ in Note IV
(4)Others
As for the subsequent expenditure related to fixed assets, if the economic benefits related to the fixed
assets is probable to flow into the Company and its cost could be measured reliably, then the expenditure
shall be included in costs of the fixed assets, and the carrying value of the replaced portion shall be
derecognized. Other subsequent expenditures other than this shall be included in profits or losses of the
period when occurred.
The disposal income from disposal, transfer, dumping or damage of fixed assets less its carrying value and
related tax expenses shall be recorded in profits or losses of the period.
The Company, at least, re-reviews the use of life, projected net residual value and depreciation method of
fixed assets at the end of year. For any change of the above factor, it shall be dealt as change of accounting
estimation.
13. Construction-in-progress
Cost of construction-in-progress should recognized by the actual construction costs, including vary construction costs during
the period of construction, the capitalized borrowing costs prior to the expected conditions for use and other relevant
expenses etc. The construction-in-progress should carry forward as fixed assets after reached the expected conditions for use.
60
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Impairment test method and impairment provision method for the construction-in-progress found in ―17.impairment of
non-current/non-financial assets‖ in Note IV.
14. Borrowing costs
Borrowing costs include interest, amortization of discounts or premiums related to borrowings, ancillary
costs incurred in connection with the arrangement of borrowings, and exchange differences arising from
foreign currency borrowings. For borrowing costs that are directly attributable to the acquisition,
construction or production of a qualifying asset, when expenditures for the asset and borrowing costs are
being incurred, activities relating to the acquisition, construction or production of the asset that are
necessary to prepare the asset for its intended use or sale have commenced, such borrowing costs shall be
capitalized as part of the cost of that asset; and capitalization shall discontinue when the qualifying asset is
ready for its intended use or sale. Other borrowing costs shall be recognized as expense in the period in
which they are incurred.
Where funds are borrowed for a specific purpose, the amount of interest to be capitalized shall be the
actual interest expense incurred on that borrowing for the period less any bank interest earned from
depositing the borrowed funds before being used into banks or any investment income on the temporary
investment of those funds. Where funds are borrowed for general purpose, the Group shall determine the
amount of interest to be capitalized on such borrowings by applying a capitalization rate to the weighted
average of the excess amounts of cumulative expenditures on the asset over and above the amounts of
specific-purpose borrowings. The capitalization rate shall be the weighted average of the interest rates
applicable to the general-purpose borrowings.
During the capitalization period, exchange differences related to the principal and interest on a specific
purpose borrowing denominated in foreign currency shall be capitalized as part of the cost of the
qualifying asset. Exchange differences related to general-purpose borrowings denominated in foreign
currency shall be included in profit or loss for the current period.
Qualifying assets are assets (fixed assets, investment property, inventories, etc) that necessarily take a
substantial period of time for acquisition, construction or production to get ready for their intended use or
sale.
Capitalization of borrowing costs shall be suspended during periods in which the acquisition, construction
or production of a qualifying asset is interrupted abnormally, when the interruption is for a continuous
period of more than 3 months, until the acquisition, construction or production of the qualifying asset is
resumed.
15. Intangible assets
(1) Intangible assets
61
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
An intangible asset is an identifiable non-monetary asset without physical substance owned or controlled
by the Group.
An intangible asset shall be initially measured at cost. The expenditures incurred on an intangible asset
shall be recognized as cost of the intangible asset only if it is probable that economic benefits associated
with the asset will flow to the Group and the cost of the asset can be measured reliably. Other expenditures
on an item asset shall be charged to profit or loss when incurred.
Land use right acquired shall normally be recognized as an intangible asset. Self-constructed buildings (e.g.
plants), related land use right and the buildings shall be separately accounted for as an intangible asset and
fixed asset. For buildings and structures purchased, the purchase consideration shall be allocated among
the land use right and the buildings on a reasonable basis. In case there is difficulty in making a reasonable
allocation, the consideration shall be recognized in full as fixed assets.
An intangible asset with an infinite useful life shall be averagely amortized in phases using the
straight-line method over its expected useful life when the asset is available for use. Intangible assets with
indefinite useful life are not amortized.
The Group shall review the useful life of intangible asset with an infinite useful life and the amortization
method applied at period-end. A change in the useful life or amortization method used shall be accounted
for as a change in accounting estimate. For an intangible asset with an indefinite useful life, the Group
shall review the useful life of the asset. If there is evidence indicating that the period during which the
intangible assets brings in economic benefits to the Group can be predicted, the Group shall estimate the
useful life of that asset and make amortization under the amortization policies applicable to intangible
assets with finite useful life.
(2) Intangible assets impairment test method and their impairment provision
The method for impairment test and impairment provision of intangible assets is detailed in Note IV.
17―Impairment of non-current non-monetary financial asset‖.
16. Long-term prepaid expenses
Long-term prepaid expenses refer to the general expenses that occurred but shall be amortized over one year in reporting
period and later period. Long-term prepaid expenses shall amortized by straight-line method in expected benefit period.
17. Impairment of non-current non-monetary financial asset
The Group will judge if there is any indication of impairment as at the balance sheet date in respect of
non-current non-financial assets such as fixed assets, construction in progress, intangible assets with a
finite useful life, investment properties measured at cost, and long-term equity investments in subsidiaries,
joint controlled entities and associates. If there is any evidence indicating that an asset may be impaired,
recoverable amount shall be estimated for impairment test. Goodwill, intangible assets with an indefinite
62
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
useful life and intangible assets beyond working conditions will be tested for impairment annually,
regardless of whether there is any indication of impairment.
If the impairment test result shows that the recoverable amount of an asset is less than its carrying amount,
the impairment provision will be made according to the difference and recognized as an impairment loss.
The recoverable amount of an asset is the higher of its fair value less costs of disposal and the present
value of the future cash flows expected to be derived from the asset. An asset’s fair value is the price in a
sale agreement in an arm’s length transaction. If there is no sale agreement but the asset is traded in an
active market, fair value shall be determined based on the bid price. If there is neither sale agreement nor
active market for an asset, fair value shall be based on the best available information. Costs of disposal are
expenses attributable to disposal of the asset, including legal fee, relevant tax and surcharges,
transportation fee and direct expenses incurred to prepare the asset for its intended sale. The present value
of the future cash flows expected to be derived from the asset over the course of continued use and final
disposal is determined as the amount discounted using an appropriately selected discount rate. Provisions
for assets impairment shall be made and recognized for the individual asset. If it is not possible to estimate
the recoverable amount of the individual asset, the Group shall determine the recoverable amount of the
asset group to which the asset belongs. The asset group is the smallest group of assets capable of
generating cash flows independently.
An impairment loss recognized on the aforesaid assets shall not be reversed in a subsequent period in
respect of the restorable value.
18. Accrual liability
The obligation pertinent to contingencies shall be recognized as accrual liability when the following conditions are satisfied
simultaneously: (1) That obligation is a current obligation of the Group; (2) It is likely to cause any economic benefit to flow
out of the enterprise as a result of performance of the obligation; and (3) The amount of the obligation can be measured in a
reliable way.
At the balance sheet date, considering matters related to risks, uncertainties and time value of money and other factors, the
expected liabilities are measured in accordance with the best estimate of the necessary expenses for the performance of the
current obligation.
If the expenditure required paying all or part of the expected liabilities was compensated by the third party, and the amount
of compensation basically can be sure when received, it could be recognized as a separate asset. But the amount of
compensation confirmed couldn’t be more than the book value of the estimated debts.
19. Income
(1) Income of commodities sales
When the transfer of significant risks and rewards of ownership of the goods to the buyer is done, when the right of
management usually associated with ownership is not reserved, when we didn’t effectively control the goods sold, the
amount of revenue can be measured reliably. The associated economic benefits are likely to flow into the enterprise. And the
related costs incurred or to be incurred can be measured in a reliable way. Thus we realize sales income.
63
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
The company engages in sales of cars, confirming income after the vehicle delivery to customers according to agreement,
payment received or the rights to receive payment.
(2) Income from providing labor
On condition that provision of services trade results can be reliably estimated, we confirm income from providing labor on
the balance sheet date according to the percentage of completion. The Company calculates the completion schedule through
the ratio of the costs incurred taking up of the estimated total cost.
The results of labor transaction provided can be estimated reliably only when simultaneously: ①the amount of revenue can
be measured reliably; ②the economic interests are likely to flow into the enterprise; ③the degree of completion can be
reliably determined; ④cost occurred and to be occurred can be reliably measured.
If the service transaction results couldn’t be able to reliably estimated, labor income will be calculated according to
according to amount of labor costs which has occurred and is expected to be t compensated, and labor costs occurred would
be included as expenses of the current period. Labor cost occurred which cannot be compensated will not be included as
revenue.
The Company engages in car repair services, confirming income after the car repair service is delivered to customers
according to agreement, payment received or the rights to receive payment.
(3) Use fee income
According to the relevant contract or agreement, revenue is recognized in accordance with the accrual basis.
(4) Interest income
Interest income is confirmed in accordance with time and actual interest others make use of the monetary capital of the
group
20. Government subsidy
A government subsidy means the monetary or non-monetary assets obtained free by the Group from the government, but
excluding the capital invested by the government as the owner of the enterprise. Government subsidies consist of the
government subsidies pertinent to assets and government subsidies pertinent to income.
The government subsidy with monetary assets concerned should be measured by the actual received or receivable amount
while non-monetary assets government subsidy measured by fair value; if without realizable fair value obtained, measured
by nominal amount instead. The government subsidy with nominal amount measured should reckon into current gains and
losses.
Asset-related government subsidies are recognized as deferred income and accounted into the current gains/losses equally
within service life for the relevant assets. The government subsidies pertinent to incomes, which are used for compensating
the related future expenses or losses of the enterprise shall be recognized as deferred income and should reckoned into
current gains/losses in period of when relevant expenses are recognized; if used for compensating the occurred relevant
expenses and losses, reckoned into current gains/losses directly.
As for the recognized government subsidy needs to return, if there has relevant balance of deferred incomes, relevant book
64
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
balance of the deferred income should be written down, and the exceeded part should included in the current gains/losses; if
there has no relevant balance of deferred incomes, reckoned into current gains/losses directly.
21. Deferred income tax assets and deferred income tax liabilities
(1) The current income tax
At the balance sheet date, for the current income tax liabilities (or assets) arising during the current and previous periods,
current income tax should be calculated in line with expected payable (or return) income tax amount in accordance with the
provisions of the tax law. Calculation of the current income tax expenses on the basis of the computation of taxable income
is adjusted to the pre-tax accounting profit according to the relevant provisions of the tax law.
(2) The deferred income tax assets and deferred income tax liabilities
As for the balance between the book value of some assets and liabilities and the tax base, and those temporary difference
arisen from balance which is not recognized as an asset or liability but whose difference between the book value and tax base
could be calculable in accordance with the provisions of the tax law, we adopt debt method of balance sheet to recognize
deferred income tax assets and deferred income tax liabilities.
As for taxable temporary differences which is arisen from initial recognition of goodwill, and those related to initial
recognition of assets or liabilities arisen during trade with neither merging nor those which won’t affect the accounting profit
and taxable income (or deductible loss), related deferred tax liabilities will not be confirmed. In addition, as for temporary
differences taxable related to subsidiary companies, associated enterprises and joint venture investment, if the group is able
to control the reversal time of the temporary difference, and the temporary differences in the foreseeable future probably will
not be reversed, we also could not confirm the deferred income tax liabilities. In addition to the above condition, the group
could confirm all the other deferred income tax liabilities arising from taxable temporary differences.
As for deductible temporary differences related to initial reorganization of asset or liability arising from trades with neither
merge nor those which won’t affect the accounting profit and taxable income (or deductible loss), we’ll not recognize
relevant deferred income tax assets.
In addition, as for deductible temporary differences related to subsidiary companies, associated enterprises and joint venture
investment, if the temporary differences in the foreseeable future probably will not be reversed, we also could not confirm
the deferred income tax assets. In addition to the above condition, the group could confirm all the other deferred income tax
assets arising from deductible temporary differences within benchmark of income of taxable deductible temporary
differences.
As for deductible loss or tax deduction which to be reversed in the following years, we confirm the corresponding deferred
income tax assets within benchmark of future taxable income to be likely deducted for deductible loss and tax deduction.
On the balance sheet date, the deferred income tax assets and liabilities are measured according to the provisions of the tax
law, in accordance with the applicable tax rate during related assets to be expected recovery or related liabilities to be paid
off.
At the balance sheet date, we recheck the book value of deferred income tax assets. If in future it is unlikely to obtain
adequate taxable income to offset the benefit of the deferred income tax asset, then we write down the book value of deferred
income tax assets. When it is probable to obtain adequate taxable income, amount written down shall be reversed.
65
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(3) The income tax expenses
In addition to trades and current income tax and deferred income tax related to projects which are included in other
comprehensive income or directly included in owners’ interest, as well as the book value whose goodwill arranged in line
with deferred income tax arising from enterprises combination, all the other current income tax and deferred income tax
expenses or income will be included in current profit and loss.
22. Leasing
Finance lease transfers substantially all the risks and rewards related to the ownership of an asset. Its ownership may
eventually transfer, also may not. While all the other leases are classified as operating leases.
(1) The group keeps record of lease business as lessee
Rental expense of operating lease is included in the relevant asset costs or current profits and losses through the straight-line
method during every period. Initial direct costs shall be included in profit or loss for the current period. Or rent to the actual
shall be included in the current profits and losses.
(2) The group keeps record of lease business as lessor
Rental income of operating lease is included in the relevant asset costs or current profits and losses through the straight-line
method during every period. The larger amount of initial direct costs shall be capitalized when it is created, and shall be
included in the current profits and losses during the lease period in accordance with same basic as the confirmed amount by
stages. The other small amount of initial direct costs shall be included in the current profits and losses when it’s created. Or
rent to the actual shall be included in the current profits and losses.
23. Assets held for sale
If the group has made decision regarding dealing with a certain non-current assets, and assignees signed a revocable transfer
agreement, and the transfer is likely to be completed within one year, the non-current assets shall be calculated as
non-current assets held for sale which shall be without depreciation or amortization. It eventually is accounted as the lower
net amount of the book value and fair value minus the disposal expenses. Non-current assets held for sale include individual
assets and disposal group. If the disposal group is a group of assets, and goodwill acquired in a business combination is
allocated to the group of assets in accordance with the " Accounting Standards for Business Enterprise No. 8 -- Impairment
of Assets", or the disposal group is a business of the asset group, the disposal group shall comprises goodwill of enterprise
merger.
An asset or disposal group was classified as held for sale, but then no longer meet the recognition conditions of non-current
assets held for sale, the group will set it free from held for sale, and calculate it in accordance with the lower amount in the
following two items: (1) book value before being designated as held for sale, referring amount after depreciation,
amortization or value-deduction adjustment confirmed in accordance with the assumption that in the absence of being
classified as held for sale; (2) recoverable amount on the point of stop holding for sale.
24. Employee compensation
The employee benefits payable is recognized as a liability by the Group when they are providing services in the accounting
period.
66
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
The group participates in the workers' social security system set up by government agencies, including the basic old-age
insurance, medical insurance, housing provident fund and other social security system, in accordance with the provisions.
The corresponding expenditures shall be included in the relevant asset costs or profits and losses of the current period.
If we end relationship with staff prior to the contract expires, or in order to encourage staff to accept voluntarily
salary-deduction thus we offer compensation, if the group has formulated a formal plan on the cancellation of labor
relationship or voluntary layoff proposal which will be implemented, at the same time if the group can’t unilaterally
withdraw the plan on the cancellation of labor relationship or the layoff proposal, expected liability arising from
compensation given to staff we terminate relationship with, shall be included in the current profits and losses.
Employee internal retirement plans is to use the same principle to deal with termination benefits. The group will pay staff
salary, social insurance and others from the date they stop providing service to their retire-day. This amount shall be included
in the current profits and losses (termination benefits), only when it meets the projected liabilities confirmation conditions
25. Changes of major accounting policies and accounting estimation
(1) Changes of accounting policy
No accounting policy changed in reporting period
(2) Changes of accounting estimate
No accounting estimate changed in reporting period
26. Error correction of previous accounting
No error correction of previous accounting needs to disclosed in reporting period
27. Major accounting judgment and estimate
The group need make judgment, estimation and hypothesis to book value of those unaccountable items in sheet due to inner
uncertainties of operating activities in the process of using accounting policies. These judgments, estimates and assumptions
are made in line with the group's past management experience, and in consideration of other relevant factors. These
judgments, estimates and assumptions will affect disclosure of amount of income, expenses, assets and liabilities as well as
contingent liability on the balance sheet day. However, the uncertainties in these estimates may cause significant adjustments
to book value of those asset or liability affected in the future.
The group rechecks regularly the judgment, estimation and hypothesis based on sustainable management. As for a change
affecting only the current period, the amount shall be confirmed only in the current period; for those not only affecting the
current but the future, the amount shall be confirmed in the current and future period.
At the balance sheet date, the group needs to determine amount of items of the financial statements, estimation and
hypothesis shown as the following important areas:
(1) Provision for bad debts
The group accounts for the allowance for bad debt losses according to the receivable accounting policies. Accounts
receivable is the valuation of accounts receivable can be recovered based on. Identification of devaluation of accounts
receivable needs judgments and estimates of management level. Difference between actual results and the original estimates
impact reversal of the book value accounts receivable and accounts receivable for provision for bad debts during the
estimation was changing.
67
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(2) Provision of inventory devaluation
According to the inventory accounting policies, the group shall accrue inventory devaluation provision as for inventory
whose cost is higher than net realizable and those obsolete or unmarketable in accordance with the lower one in cost and net
realizable value. Write-down of inventories to net realizable value is to assess the salability and net amount of prospect
realization. Identification of inventory impairment requires management’s judgment and estimation after their obtaining
conclusive evidence and consideration of the purpose for holding inventories, events effects occurring after balance sheet
date. The difference between actual results and original estimates will affect the reversal of book value and devaluation
provision of inventories during the estimation was changing.
(3) Impairment provision of non-financial non-current assets
The group takes judge on non-current assets excluding financial assets to see whether there is any sign of possible
impairment at the balance sheet date. For those intangible assets not sure on the service life, when there is any indication of
impairment, are to be tested for impairment, too, except for impairment testing performed each year. Other financial assets
outside the non-current assets, when there are signs that its carrying amount is not recoverable, tested for impairment is
needed.
The book value of the asset or asset group is higher than that of the recoverable amount, namely fair value minus the higher
net amount between the disposal expenses and the future cash flows, which show that impairment happened.
The net amount of fair value minus the disposal expenses is confirmed by referring to sales agreement price of assets of
similar bargain or observable market price, then minus the incremental costs directly attributable to the disposal of assets.
When prospecting current value of future cash flows, we need make critical judgments for the asset (or asset group) yield,
price, related operating costs and discount rate when calculating the present value. The group shall make use of relevant
materials to estimate recoverable amount, including the predictions about the production, price and related operating costs
based on reasonable and supportable assumptions.
(4) Depreciation and amortization
For the investment real estate, fixed assets and intangible assets, the group takes a straight-line depreciation and amortization
within service life in consideration of its residual value. The group regularly review service life, thus determine the
depreciation and amortization amount in each reporting period. Life is determined based on past experience of similar assets
and technology update is expected. If the previous estimate changes, we will adjust depreciation and amortization expense in
future periods.
(5) The deferred income tax assets
Within the limits that it is very likely to have sufficient taxable profits to offset losses, the group confirms deferred income
tax assets using all unused tax losses. This requires the management to use a lot of judgment to estimate the time and amount
of future taxable profits, combined with the tax planning strategy, thus confirm the amount of deferred income tax assets.
(6) The income tax
During ordinary course of business, uncertainty exists in final tax treatment and calculation of a part of trading. Whether part
of the project is in pre tax expenses requires approval of tax authorities. If the final confirmation of these tax matters differs
68
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
from an initial estimate, the difference will affect current income tax and deferred income tax during the final period.
(7) Accrual liabilities
The group estimates and accrues corresponding provision for product quality guarantee, expected contract loss, penalty for
late delivery and others in accordance with terms of the contract, existing knowledge and experience. When such
contingencies has formed a present obligation, and the performance of the current obligation is likely to lead to the outflow
of economic benefits of the group, the group recognizes the best estimate of required expense when performing current
obligation as accrual liability. The recognition and measurement of debt is largely dependent on the judgment of
management. In the process of judgment the group needs to assess the contingent risks, uncertainties and money and the time
value and other factors.
V. Taxation
Main tax and tax rate
Type Tax rate
Output tax calculated based on 17% of the taxable income, calculated and paid
VAT
the VAT on the difference after deducted deductible current input tax
Operation tax Calculated and paid on 5% of the taxable operation amount
City maintaining & construction tax Calculated and paid on 7% of the turnover tax actually paid
Education surcharge Calculated and paid on 3% of the turnover tax actually paid
Local education surcharge Calculated and paid on 2% of the turnover tax actually paid
Calculated and paid on 25% of the taxable income amount and tax by the levy
Corporation income tax *
rate
* Note: The Company and subsidiaries exercise rate of 25% in 2014, except Shenzhen New Yongtong Dongxiao Vehicle
Inspection Co., Ltd., which has taxed on levy rate.
69
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
VI. Enterprise consolidation and consolidated financial statements
1. Subsidiary
(1) Subsidiary obtained by establishment or investment
In ten thousand Yuan
Actual
Balance of other items
Registration Registered Organization investment
Subsidiary Type Business nature Business scope Business type Corporate materially forming net
place capital
code dated 30 June
investment to subsidiary
2014
Shenzhen Tellus New Yongtong
Automobile Development Co. Ltd Inspection and maintenance
Limited liability Huang
Wholly-owned Shenzhen Service industry 3290 of auto vehicle, property 192171903 5767 --
company Peibo
management, house lease
Shenzhen SD Tellus Property
Management Co. Ltd Limited liability Fang
Wholly-owned Shenzhen Service industry 705 Property management 192185088 502 --
company Zhidong
Shenzhen SD Tellus Real Estate Co.
Ltd Domestic business, material
Limited liability Fang
Wholly-owned Shenzhen Manufacture 3115 supply industry, self-owned 192195470 3115 --
company Zhidong
property leasing
Shenzhen Tellus Real Estate Exchange
Co. Ltd Agency, broker of real Limited liability Fang
Wholly-owned Shenzhen Service industry 200 192282945 200 --
estate exchange company Zhidong
70
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Shenzhen New Yongtong Automobile
Inspection Equipment Co. Ltd Production of inspection
equipment for auto Limited liability Huang
Holding Shenzhen Service industry 1961 715275892 1000 --
vehicles, self-owned company Peibo
property leasing
Shenzhen Dongchang Yongtong Motor Indirect Limited liability
Shenzhen Service industry 150 Inspection of auto vehicle Li Jinlong 775581736 143 --
Vehicle Detection Co., Ltd. holding company
Shenzhen New Yongtong Dongxiao Comprehensive inspection
Indirect Limited liability
Vehicle Inspection Co., Ltd. Shenzhen Service industry 150 on road transportation Li Jinlong 775581744 143 --
holding company
vehicle
Shenzhen Bao’an Shiquan Industrial Indirect Industrial, domestic
Limited liability Fang
Co., Ltd wholly-owned Shenzhen Commerce 200 commerce and material 192474111 150 --
company Zhidong
subsidiary supply& sales industry
(Continued)
Holding proportion Voting right Statements combined Minority Amount in minority interest used for writing down Not
Subsidiary (%) proportion (%) or not interest minority gain and loss
e
Yes
Shenzhen Tellus New Yongtong Automobile
100 100 -- --
Development Co. Ltd
Yes
Shenzhen SD Tellus Property Management Co. Ltd 100 100 -- --
Yes
Shenzhen SD Tellus Real Estate Co. Ltd 100 100 -- --
Yes
Shenzhen Tellus Real Estate Exchange Co. Ltd 100 100 -- --
71
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Yes
Shenzhen New Yongtong Automobile Inspection
51 51 94 --
Equipment Co. Ltd
Yes
Shenzhen Dongchang Yongtong Motor Vehicle
95 95 -18 --
Detection Co., Ltd.
Yes
Shenzhen New Yongtong Dongxiao Vehicle
95 95 -8 --
Inspection Co., Ltd.
Yes
Shenzhen Bao’an Shiquan Industrial Co., Ltd 100 100 -- --
72
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(2) Subsidiaries acquired by business combination under the common control
In ten thousand Yuan
Balance of other
Actual items materially
Type of Registered Registered Organization
Name of subsidiary Business nature Business scope Business type Corporate investment at forming net
subsidiary place
capital code
year-end investment to
subsidiary
Shenzhen Automobile Self-owned
Industry and Trading property leasing, Limited liability
Company Wholly-owned Shenzhen Commerce 5896 Ren Yongjian 192194881 12625 --
automobile and company
accessories selling
Shenzhen SD Huari Automobile
Automobile Enterprise Co. maintenance & Limited liability
Limited Holding Shenzhen Service industry USD500 Lv Hang 618830081 1922 --
production and company
sales of accessory
Shenzhen Zhongtian
Industrial Co. Ltd Limited liability
Wholly-owned Shenzhen Service industry 725 Property leasing Fang Zhidong 192182485 1071 --
company
Shenzhen Huari Toyota Automobile Co. Automobile Limited liability
Holding Shenzhen Commerce 200 Lv Hang 19237652X 181 --
Ltd selling company
Shenzhen Huari Anxin Automobile Indirect Automobile Limited liability
Shenzhen Service industry 150 Li Jinlong 781385280 150 --
Inspection Ltd holding inspection company
73
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Motor vehicles
Shenzhen Automotive Industry Supply Indirect and parts, Limited liability
Shenzhen Service industry 1111 Liang Wenjun 192189193 648 --
Corporation holding chemicals, company
instruments
(Continued)
Statements
Holding proportion Voting right proportion Amount in minority interest used for
Subsidiary combined or Minority interest Note
(%) (%) writing down minority gain and loss
not
Yes
Shenzhen Automobile 100 100 -- --
Yes
Shenzhen SD Huari Automobile Enterprise
60 60
Co.Limited 1,515 --
Yes
Shenzhen Zhongtian Industrial Co. Ltd 100 100 -- --
Yes
Shenzhen Huari Toyota Automobile Co. Ltd 60 60 -419 --
Yes
Shenzhen Huari Anxin Automobile Inspection
100 100 -- --
Ltd
Yes
Shenzhen Automotive Industry Supply
100 100 -- --
Corporation
74
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
3. The Company has no special purposes entity or operation entity where controlling right is
formed under entrusted operation or leasing
4. There are no entities newly included in consolidate scope during the reporting period and entities
ceasing to be included in consolidate scope during the reporting period
5. Business combination under the same control in Period
No business combined under the same control in Period
6. Business combination under the different control in Period
No business combined under the different control in Period
7. Subsidiary reduced in the Period due to sales of equity that loss controlling rights
No subsidiary reduced in the Period due to sales of equity that loss controlling rights
8. Counter purchase in the Year
No counter purchase in the Period
9. Merger in the Year
No merger in the Period
10. Conversion rate of the main statement for foreign operational entity
The Company has no foreign operational entity
VII. Notes to major items in consolidated financial statements
1. Monetary fund
2014-6-30 2013-12-31
Item Foreign Exchange Exchange RMB
RMB conversion Foreign currency
currency rate rate conversion
Stock cash 146,293.44 126,751.33
Including: RMB — — 125,567.25 — — 102,105.49
HKD 3,718.35 0.79375 2,951.45 21,419.47 0.78623 16,840.63
USD 856.00 6.1528 5,266.80 1,045.35 6.0969 6,373.38
JPY 205,655.00 0.06082 12,507.94 24,784.58 0.0578 1,431.83
Bank deposits: 55,712,194.45 63,018,754.91
Including: RMB — — 55,712,194.45 — — 63,018,754.91
Other monetary capital*Note
① 1,248,222.56 6,753,285.32
75
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
2014-6-30 2013-12-31
Item Foreign Exchange Exchange RMB
RMB conversion Foreign currency
currency rate rate conversion
Including: RMB — — 1,248,222.56 — — 6,753,285.32
Total 57,106,710.45 69,898,791.56
*Note ① Balance at the period-end of other monetary capital included bank acceptance deposits RMB 1,245,130.38.
2. Account receivable
(1) Account receivable by type
2014-6-30
Type Book balance Provision for bad debt
Proportion Proportion
Amount Amount
(%) (%)
Accounts receivable with large single amount and accrued for 20,131,654.12 41.09 20,131,654.12 100.00
provision of bad debt on a single basis
Accounts receivable accrued for provision of bad debt by age 8,585,797.08 17.53 4,075,470.12 47.47
group
Accounts receivable with insignificant single amount but accrued 20,273,298.57 41.38 20,273,298.57 100.00
for provision of bad debt on a single basis
Total 48,990,749.77 100.00 44,480,422.81 90.79
(Continued)
2013-12-31
Type Book balance Provision for bad debt
Proportion Proportion
Amount Amount
(%) (%)
Accounts receivable with large single amount and accrued for 20,131,654.12 40.69 20,131,654.12 100.00
provision of bad debt on a single basis
Accounts receivable accrued for provision of bad debt by age 9,069,724.07 18.33 4,052,985.29 44.69
group
Accounts receivable with insignificant single amount but accrued 20,273,298.57 40.98 20,273,298.57 100.00
for provision of bad debt on a single basis
Type 49,474,676.76 100.00 44,457,937.98 89.86
76
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(2) Account receivable by age group
2014-6-30 2013-12-31
Item
Amount Proportion (%) Amount Proportion (%)
Within 1 year 186,339.71 0.38 453,674.83 0.92
1-2 years 8,122.90 0.02 358,715.77 0.73
2-3 years 402,010.86 0.82 536,004.01 1.08
Over 3 years 48,394,276.30 98.78 48,126,282.15 97.27
Total 48,990,749.77 100.00 49,474,676.76 100.00
(3) Withdrawal of provision for bad debt
①Accounts receivable with large single amount and accrued for provision of bad debt on a single basis
Provision for Accrual
Debtor Book balance Reasons
bad debt ratio
Shenzhen Jinlu Industry and Trade Co., Has greater uncertainty in
9,846,607.00 9,846,607.00 100%
Ltd. collection
Guangdong Zhanjiang Sanxing Auto 100% Not expected to collected due to
4,060,329.44 4,060,329.44
Service Co., Ltd. long account age
Huizhou Jiandacheng Daoqiao 100% Unlikely to collected
2,021,657.70 2,021,657.70
Engineering Company
Jiangling Automobile Factory 100% Not expected to collected due to
1,191,059.98 1,191,059.98
long account age
Guangdong Materials Group Corp. 100% Not expected to collected due to
1,862,000.00 1,862,000.00
long account age
Yangjiang Auto Trade Co., Ltd. 100% Not expected to collected due to
1,150,000.00 1,150,000.00
long account age
Total 20,131,654.12 20,131,654.12 100%
②Accounts receivable accrued for provision of bad debt by age group
2014-6-30 2013-12-31
Age Book balance Book balance
Provision for Provision for
Proportion Proportion
Amount bad debt Amount bad debt
(%) (%)
Within 1 year 186,339.71 2.17 - 453,674.83 5.00 -
1-2 years 8,122.90 0.09 406.15 358,715.77 3.96 6,700.05
77
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
2-3 years 402,010.86 4.68 80,402.17 536,004.01 5.91 107,200.80
Over 3 years 7,989,323.61 93.05 3,994,661.81 7,721,329.46 85.13 3,939,084.44
Total 8,585,797.08 100.00 4,075,470.12 9,069,724.07 100.00 4,052,985.29
③Accounts receivable with insignificant single amount but accrued for provision of bad
debt on a single basis
Accrual ratio Provision for
Accounts receivable Book balance Reasons
bad debt
100% Not expected to collected due to
Dadong Company
801,380.16 801,380.16 long account age
100% Not expected to collected due to
Qingling Automobile Company
695,848.00 695,848.00 long account age
Shanghai Automobile Industry 100% Not expected to collected due to
Supply and Marketing Company 641,341.90 641,341.90 long account age
Zhongqi Trade Guangzhou 100% Not expected to collected due to
Company 558,000.00 558,000.00 long account age
Guangdong Materials Group Corp. 100% Not expected to collected due to
Automobile Trade Company 395,400.00 395,400.00 long account age
100% Not expected to collected due to
Yunnan Lanjian Factory
389,640.00 389,640.00 long account age
100% Not expected to collected due to
Guangdong Materials Trade Center
387,000.00 387,000.00 long account age
100% Not expected to collected due to
Other company
16,404,688.51 16,404,688.51 long account age
Total 20,273,298.57 100% 20,273,298.57
(4) No account receivables actually written-off during the reporting period
(5) No account receivables due from the shareholders holding 5% (5% included) or above voting shares of
the Company during the reporting period
(6) Top 5 account receivable
Relationship with Proportion in
Name of the company Amount Terms
the Company total account
78
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
receivables (%)
Shenzhen Jinlu Industry and Trade Co., Ltd. Non-related party 9,846,607.00 Over 5 years 19.79
Guangdong Zhanjiang Sanxing Auto Service Co., Non-related party
Ltd. 4,060,329.44 Over 5 years 8.16
Huizhou Jiandacheng Daoqiao Engineering
Non-related party 2,021,657.70
Company Over 5 years 4.06
Guangdong Materials Group Corp. Non-related party 1,862,000.00 Over 5 years 3.74
Jiangling Automobile Factory Non-related party 1,191,059.98 Over 5 years 2.39
Total 18,981,654.12 38.14
(7) Account receivables due from related parties
Found more details in 6(1) Receivable and payable of related parties in Note VIII
3. Other account receivables
(1) Other account receivable by type
2014-6-30
Type Book balance Provision for bad debt
Proportion Proportion
Amount Amount
(%) (%)
Other accounts receivable with large single amount and accrued
37,789,294.43 60.87 37,789,294.43 100.00
for provision of bad debt on a single basis
Other accounts receivable accrued for provision of bad debt by age
14,884,815.11 23.98 4,627,906.52 31.09
group
Other accounts receivable with insignificant single amount but
9,403,872.62 15.15 9,403,872.62 100.00
accrued for provision of bad debt on a single basis
Total 62,077,982.16 100.00 51,821,073.57 83.48
(Continued)
2013-12-31
Type Book balance Provision for bad debt
Proportion Proportion
Amount Amount
(%) (%)
Other accounts receivable with large single amount and accrued 37,789,294.43 63.15 37,789,294.43 100.00
79
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
2013-12-31
Type Book balance Provision for bad debt
Proportion Proportion
Amount Amount
(%) (%)
for provision of bad debt on a single basis
Other accounts receivable accrued for provision of bad debt by age
12,643,148.86 21.13 4,614,792.17 36.5
group
Other accounts receivable with insignificant single amount but
9,403,872.62 15.72 9,403,872.62 100.00
accrued for provision of bad debt on a single basis
Total 59,836,315.91 100.00 51,807,959.22 86.58
(2) Other account receivable by age
2014-6-30 2013-12-31
Item
Amount Proportion (%) Amount Proportion (%)
Within 1 year 5,253,797.11 8.46 3,106,182.90 5.19
1-2 years 534,983.49 0.86 672,196.31 1.12
2-3 years 142,719.64 0.23 602,961.71 1.01
Over 3 years 56,146,481.92 90.45 55,454,974.99 92.68
Total 62,077,982.16 100.00 59,836,315.91 100.00
(3) Withdrawal of provision for bad debt
①Other accounts receivable with large single amount and accrued for provision of bad debt
on a single basis
Provision for Accrual
Other accounts receivable Book amount Reasons
bad debt ratio
Zhongqi South China Auto Sales Not expected to collected due to
9,832,956.37 9,832,956.37 100%
Company long account age
South Industry & TRADE Shenzhen Not expected to collected due to
7,359,060.75 7,359,060.75
Industrial Company 100% long account age
Win a lawsuit, no executable
5,000,000.00 5,000,000.00
Shenzhen Zhonghao (Group) Co., Ltd. 100% assets from adversary
Gold Beili Electrical Appliances Not expected to collected due to
Company 2,706,983.51 2,706,983.51 100% long account age
80
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Provision for Accrual
Other accounts receivable Book amount Reasons
bad debt ratio
Not expected to collected due to
2,418,512.90 2,418,512.90 100%
City Xingtai Trade Co., Ltd. the non-existence of the company
Shenzhen Petrochemical Group 1,888,329.19 1,888,329.19 100% Unlikely to collected
Not expected to collected due to
Huatong Package Co., Ltd. 1,212,373.79 1,212,373.79 100% long account age
Heyuan Dongfeng Technology Service Not expected to collected due to
station 930,000.00 930,000.00 100% long account age
Shenzhen South Great Wall Investment Has greater uncertainty in
Holding Co., Ltd. 819,460.91 819,460.91 100% collection
Shenzhen Xiandao Chemical New Not expected to collected due to
Materials Company 708,072.26 708,072.26 100% long account age
Shenzhen Baodong Property Not expected to collected due to
Development Company 609,773.00 609,773.00 100% long account age
Not expected to collected due to
Others 4,303,771.75 4,303,771.75 100%
long account age
Total 37,789,294.43 37,789,294.43 100%
②Other accounts receivable accrued for provision of bad debt by age group
2014-6-30 2013-12-31
Age Book balance Provision for Book balance Provision for bad
Proportion Proportion
Amount bad debt Amount debt
(%) (%)
Within 1 year 5,253,797.11 35.30 -- 3,106,182.90 24.56 --
1-2 years 534,983.49 3.59 26,749.18 672,196.31 5.32 24,054.83
2-3 years 142,719.64 0.96 28,543.93 143,619.69 1.14 58,123.93
Over 3 years 8,953,314.87 60.15 4,572,613.41 8,721,149.96 68.98 4,532,613.41
Total 14,884,815.11 100.00 4,627,906.52 12,643,148.86 100.00 4,614,792.17
③Other accounts receivable with insignificant single amount but accrued for provision
of bad debt on a single basis at period-end
81
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Provision for bad
Other accounts receivable Book balance Accrual ratio (%) Reasons
debt
Huashengchang Auto Not expected to collected due to
100.00
Company 463,912.46 463,912.46 long account age
Renminbei branch of Not expected to collected due to
100.00
Agricultural Bank of China 247,219.98 247,219.98 long account age
Account for employees to Not expected to collected due to
100.00
purchase properties 217,892.57 217,892.57 long account age
Not expected to collected due to
100.00
Liang Rongde 182,133.26 182,133.26 long account age
Shensha Industry & Trade Not expected to collected due to
100.00
Company 134,835.20 134,835.20 long account age
Chengdu Airplane Design Not expected to collected due to
100.00
Institute 130,000.00 130,000.00 long account age
Not expected to collected due to
8,027,879.15 100.00 8,027,879.15
Other company long account age
Total 9,403,872.62 9,403,872.62
(4) No other receivables actually written-off during the reporting period
(5) No other receivables due from the shareholders holding 5% (5% included) or above voting shares of
the Company during the reporting period
(6) Top 5 other account receivable
Relationship with Proportion in total other
Name of the company Amount Terms
the Company account receivables (%)
Zhongqi South China Auto Sales Company Non-related party 9,832,956.37 Over 3 years 16.43
South Industry & TRADE Shenzhen Industrial Company Non-related party 7,359,060.75 Over 3 years 12.30
Shenzhen Zhonghao (Group) Co., Ltd. Non-related party 5,000,000.00 Over 3 years 8.36
Shenzhen Kaifeng Special Vehicles Industry Co., Ltd. Non-related party 4,413,728.50 Over 3 years 7.38
Jinbeili Home Appliance Company Non-related party 2,706,983.51 Over 3 years 4.52
Total 29,312,729.13 48.99
82
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(7) Other receivables due from related parties
Found more details in 6(1) Receivable and payable of related parties in Note VIII
4. Payment in advance
(1) Payment in advance by age
2014-6-30 2013-12-31
Age
Amount Proportion (%) Amount Proportion (%)
Within 1 year 10,200,986.16 99.12 8,210,636.79 98.81
1-2 years -- -- -- --
2-3 years -- -- 8,360.00 0.10
Over 3 years 90,577.94 0.88 90,577.94 1.09
Total 10,291,564.10 100.00 8,309,574.73 100.00
(2) Main units of payment in advance
Relationship with Time for
Name of the company Amount Unsettled reasons
the Company advances
FAW-Toyota Automobile Selling Commodity has not
Supplier 7,497,745.23 2014
Company been collected
Toyota Motor (China) Investment Co., Commodity has not
Supplier 1,523,300.27 2014
Ltd. been collected
Total 9,021,045.50
(3) No shareholders holding 5% (5% included) or above voting shares of the Company in
payments in advance during the reporting period
5. Inventory
(1) Classification
2014-6-30
Item
Book balance Depreciation provision Book value
Raw materials 14,870,156.16 14,771,812.17 98,343.99
Low value consumable 2,794.79 - 2,794.79
83
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Stock products 57,648,711.11 13,983,189.70 43,665,521.41
Total 72,521,662.06 28,755,001.87 43,766,660.19
(Continued)
2013-12-31
Item
Book balance Depreciation provision Book value
Raw materials 15,286,724.01 14,771,812.17 514,911.84
Low value consumable 25,935.10 -- 25,935.10
Stock products 76,268,708.46 13,983,189.70 62,285,518.76
Total 91,581,367.57 28,755,001.87 62,826,365.70
(2) Changes of inventory impairment provision
Provision for this Decrease during this period
Item 2013-12-31 2014-6-30
period Reversal Written-off
Raw materials 14,771,812.17 -- -- -- 14,771,812.17
Low value consumable -- -- -- -- --
Stock products 13,983,189.70 -- -- -- 13,983,189.70
Total 28,755,001.87 -- -- -- 28,755,001.87
6. Other current assets
Item 2014-6-30 2013-12-31
Input tax ready for deducted 8,572,421.19 11,644,102.02
Total 8,572,421.19 11,644,102.02
7. Financial assets available for sale
Particular about financial assets available for sale
Item 2014-6-30 2013-12-31
Equity instrument available for sale 1,391,820.80 1,480,168.80
Including: CMB Stock 1,391,820.80 1,480,168.80
Less: depreciation reserves -- --
Total 1,391,820.80 1,480,168.80
84
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
8. Held-to-maturity investment
Particular about held-to-maturity investment
Item 2014-6-30 2013-12-31
Treasury bill 120,000.00 120,000.00
Less: depreciation reserves 20,000.00 20,000.00
Total 100,000.00 100,000.00
9. Long-term account receivable
Item 2014-6-30 2013-12-31
Other:
Essentially constitute a long-term equity for net investment 2,179,203.68 2,179,203.68
of invested company
Including: Shenzhen Tellus Auto Service Chain Co., Ltd. * 2,179,203.68 2,179,203.68
Total book balance 2,179,203.68 2,179,203.68
Less: Provision for bad debt 2,179,203.68 2,179,203.68
Book value -- --
10. Long-term equity investment
(1) Classification
Current Current
Item 2013-12-31 2014-6-30
increased decreased
Investment to joint venture 68,597,879.95 258,881.43 -- 68,856,761.38
Investment to associated enterprise 122,924,557.62 7,582,594.55 -- 130,507,152.17
Other equity investment 41,736,238.39 -- -- 41,736,238.39
Less: depreciation reserves of long-term equity
31,385,089.21 -- -- 31,385,089.21
investment
Total 201,873,586.75 7,841,475.98 -- 209,715,062.73
(2) Details of long-term equity investment
Calculation Investment
Invested company 2013-12-31 Increase/decrease(+,-) 2014-6-30
method cost
85
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Calculation Investment
Invested company 2013-12-31 Increase/decrease(+,-) 2014-6-30
method cost
Shenzhen Tellus Jimeng Investment Co., Ltd Equity method 61,852,480.00 59,672,265.92 997.01 59,673,262.93
Shenzhen Tellus Hang Investment Co., Ltd. Equity method 13,600,000.00 8,925,614.03 257,884.42 9,183,498.45
Shenzhen Xinglong Machinery Mould Co., Ltd. Equity method 12,300,000.00 15,878,254.74 -- 15,878,254.74
Shenzhen Tellus Auto Service Chain Co., Ltd. Equity method 800,000.00 -- -- --
Shenzhen Zung Fu Tellus Auto Service Co., Ltd. Equity method 10,500,000.00 68,285,253.75 6,482,504.95 74,767,758.70
Shenzhen Auto Industry Imp& Exp Co., Ltd. Equity method 4,737,500.00 8,278,240.60 1,503,366.02 9,781,606.62
Shenzhen Dongfeng Auto Co., Ltd. Equity method 23,277,044.85 29,221,071.32 -99,746.53 29,121,324.79
Shenzhen New Yongtong Technology Co., Ltd. Equity method 496,000.00 528,942.14 -14,312.96 514,629.18
Shenzhen New Yongtong Oil Pump Equity method
155,000.00 127,836.59 -- 127,836.59
Environment Protection Co., Ltd.
Shenzhen New Yongtong Auto Service Co., Ltd. Equity method 300,000.00 223,274.43 -88,052.96 135,221.47
Shenzhen New Yongtong Dongxiao Auto Service Equity method
175,000.00 175,844.33 -91,163.97 84,680.36
Co., Ltd.
Shenzhen Yongtong Xinda Inspection Equipment Equity method
400,000.00 164,282.89 -110,000.00 54,282.89
Co., Ltd.
Shenzhen New Yongtong Consultant Co., Ltd. Equity method 48,000.00 41,556.83 -- 41,556.83
Shenzhen Tellus New Yongtong Auto Service Equity method
504,000.00 -- -- --
Co., Ltd.
Shenzhen Tellus Jimeng Investment Co., Ltd Equity method 10,176,617.20 10,176,617.20 -- 10,176,617.20
Shenzhen Tellus Hang Investment Co., Ltd. Equity method 6,900,000.00 1,810,540.70 -- 1,810,540.70
Shenzhen Xinglong Machinery Mould Co., Ltd. Equity method
3,466,000.00 1,956,000.00 -- 1,956,000.00
* Note ②
Shenzhen Tellus Auto Service Chain Co., Ltd. Equity method 3,150,000.00 3,225,000.00 -- 3,225,000.00
Shenzhen Zung Fu Tellus Auto Service Co., Ltd. Equity method 4,000,000.00 4,000,000.00 -- 4,000,000.00
Shenzhen Auto Industry Imp& Exp Co., Ltd. Equity method 825,000.00 825,000.00 -- 825,000.00
Shenzhen Dongfeng Auto Co., Ltd. * Note③ Equity method 640,000.00 640,000.00 -- 640,000.00
Shenzhen New Yongtong Technology Co., Ltd. Equity method 7,256,401.38 4,751,621.62 -- 4,751,621.62
86
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Calculation Investment
Invested company 2013-12-31 Increase/decrease(+,-) 2014-6-30
method cost
Shenzhen New Yongtong Oil Pump Equity method
700,000.00 700,000.00 -- 700,000.00
Environment Protection Co., Ltd.
Shenzhen New Yongtong Auto Service Co., Ltd. Equity method 6,700,000.00 6,700,000.00 -- 6,700,000.00
Shenzhen New Yongtong Dongxiao Auto Service Equity method
400,000.00 400,000.00 -- 400,000.00
Co., Ltd.
Shenzhen Yongtong Xinda Inspection Equipment Equity method
500,000.00 500,000.00 -- 500,000.00
Co., Ltd.
Shenzhen New Yongtong Consultant Co., Ltd. Equity method 17,849.20 17,849.20 -- 17,849.20
Shenzhen Tellus New Yongtong Auto Service Equity method
2,250,000.00 2,250,000.00 -- 2,250,000.00
Co., Ltd.
Shenzhen Tellus Jimeng Investment Co., Ltd Equity method 600,000.00 600,000.00 -- 600,000.00
Shenzhen Tellus Hang Investment Co., Ltd. Equity method 453,440.00 453,440.00 -- 453,440.00
Shenzhen Xinglong Machinery Mould Co., Ltd. Equity method
600,000.00 600,000.00 -- 600,000.00
* Note ②
Shenzhen Tellus Auto Service Chain Co., Ltd. Equity method 1,320,000.00 1,320,000.00 -- 1,320,000.00
Shenzhen Zung Fu Tellus Auto Service Co., Ltd. Equity method 162,000.00 162,000.00 -- 162,000.00
Shenzhen Auto Industry Imp& Exp Co., Ltd. Equity method 200,001.10 200,001.10 -- 200,001.10
Shenzhen Dongfeng Auto Co., Ltd. * Note③ Equity method 302,368.57 302,368.57 -- 302,368.57
Shenzhen New Yongtong Technology Co., Ltd. Equity method 145,800.00 145,800.00 -- 145,800.00
Shenzhen New Yongtong Oil Pump Equity method
179,910,502.30 233,258,675.96 7,841,475.98 241,100,151.94
Environment Protection Co., Ltd.
87
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(Continued)
Explanation on the
Proportion of
Proportion of voting incongruity in share
share holding in Impairment
Cash bonus this
Invested company rights in invested holding proportion and Impairment provision provision of
period
invested accruing this year
company (%) voting proportion in
company (%)
invested company
Shenzhen Tellus Jimeng Investment Co., Ltd 50 50 -- -- --
Shenzhen Tellus Hang Investment Co., Ltd. 50 50 -- -- --
Shenzhen Xinglong Machinery Mould Co., Ltd. 30 30 -- -- --
Shenzhen Tellus Auto Service Chain Co., Ltd. 40 40 -- -- --
Shenzhen Zung Fu Tellus Auto Service Co., Ltd. 35 35 -- -- --
Shenzhen Auto Industry Imp& Exp Co., Ltd. 35.75 35.75 -- -- --
Shenzhen Dongfeng Auto Co., Ltd. 25 25 -- -- --
Shenzhen New Yongtong Technology Co., Ltd. 31 31 -- -- --
Shenzhen New Yongtong Oil Pump Environment
Protection Co., Ltd. 31 31 127,836.59 -- --
Shenzhen New Yongtong Auto Service Co., Ltd. 30 30 -- -- --
Shenzhen New Yongtong Dongxiao Auto Service Co.,
Ltd. 35 35 -- -- --
88
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Explanation on the
Proportion of
Proportion of voting incongruity in share
share holding in Impairment
Cash bonus this
Invested company rights in invested holding proportion and Impairment provision provision of
period
invested accruing this year
company (%) voting proportion in
company (%)
invested company
Shenzhen Yongtong Xinda Inspection Equipment Co.,
Ltd. 40 40 -- -- --
Shenzhen New Yongtong Consultant Co., Ltd. 30 30 -- -- --
Shenzhen Tellus New Yongtong Auto Service Co., Ltd. 18 18 -- -- --
China Pudong Development Machinery Industry Co., Ltd. 5.30 5.30 -- -- --
Hunan Changyang Industrial Co., Ltd. *Note ① 36.55 36.55 1,810,540.70 -- --
Shenzhen hanli Hi-Tech Ceramics Co., Ltd.* Note① 80 80 1,956,000.00 -- --
Shenzhen Jiecheng Electronic Co., Ltd* Note① 45 45 3,225,000.00 -- --
Shenzhen Jingwei Industrial Co., Ltd. 12.50 12.50 4,000,000.00 -- --
Shenzhen (Masco) Co., Ltd. 7.00 7.00 825,000.00 -- --
Wuhan Weite Hotel 640,000.00 -- --
Shenzhen Xiandao Chemical Industrial New Material Co.,
Ltd.* Note① 40 40 4,751,621.62 -- --
Shenzhen Petrochemical Group 100000 shares 100000 shares 700,000.00 -- --
89
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Explanation on the
Proportion of
Proportion of voting incongruity in share
share holding in Impairment
Cash bonus this
Invested company rights in invested holding proportion and Impairment provision provision of
period
invested accruing this year
company (%) voting proportion in
company (%)
invested company
South Auto Maintenance Center* Note① 100 100 6,700,000.00 -- --
China Auto Industrial Shenzhen Trading Company* Note
① 40 40 400,000.00 -- --
Shenzhen General Standard Co., Ltd.* Note① 25 25 500,000.00 -- --
Shenzhen Huoju Spark Plug Industry Co., Ltd* Note① 49 49 17,849.20 -- --
Zhongqi South China Auto Sales Company* Note① 49 49 2,250,000.00 -- --
Electric vehicles 11.10 11.10 600,000.00 -- --
Shenzhen Jinhe Standard Mould Co., ltd. 15.00 15.00 453,440.00 -- --
China Auto Training Center 6.25 6.25 600,000.00 -- --
Shenzhen Bailiyuan Power Supply Co., Ltd* Note① 25.00 25.00 1,320,000.00 -- --
Dratini (Zeng Wengang) 6.25 6.25 162,000.00 -- --
Shenzhen Yimin Auto Tranding Co., Ltd. 200,001.10 -- --
Shenzhen Bisike Machinery Transport Co., Ltd. 7.5 7.5 -- -- --
Hong Kong Rishen International Co., Ltd. 7.5 7.5 145,800.00 -- --
90
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Explanation on the
Proportion of
Proportion of voting incongruity in share
share holding in Impairment
Cash bonus this
Invested company rights in invested holding proportion and Impairment provision provision of
period
invested accruing this year
company (%) voting proportion in
company (%)
invested company
Total 31,385,089.21 -- --
91
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
* Note①: the company has stopped business; the company does not have significant influence which has fully accrued
provision for impairment.
(3) Relevant information about limitation to ability to transfer funds to invested enterprises
According to Auto Industrial and Trading Company and Dongfeng Motor Corp (Dongfeng Motor Corporation is controlling
shareholder of Shenzhen Dongfeng Co., LTD) signed the "Debt Payment Agreement" agreed that Auto Industrial and
Trading Company pay off debts to Dongfeng Motor Corporation using its distributable profits shared from Shenzhen
Dongfeng Co., LTD.
(4) Details of unrecognized investment losses
2014-6-30 2013-12-31
Unrecognized Accumulative Unrecognized Accumulative
Invested company
investment loss unrecognized investment loss unrecognized
in the year investment losses last year investment losses
Shenzhen Tellus New Yongtong Auto Service
44,012.40 763,789.35 96,219.16 719,776.95
Co., Ltd.
Shenzhen Tellus Auto Service Chain Co., Ltd. 555.77 93,962.39 93,406.62 93,406.62
Total 44,568.17 857,751.74 189,625.78 813,183.57
(5) Investment to joint venture and associated enterprise
① Joint venture
Proporti
on of
Proportion of
shares
Name of the Enterprise Registrati voting right in
Corporate Business nature Register capital held by
company nature on place invested
the
company (%)
Compan
y (%)
Industrial
investment,
Shenzhen Tellus Limited
property
Jimeng Investment liability Shenzhen Luo Bojun 123,704,960.00 50 50
management and
Co., Ltd company
self-owned
property leasing
Shenzhen Tellus Limited Shenzhe Industrial
Luo Bojun 27,200,000.00 50 50
Hang Investment liability n investment,
92
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Proporti
on of
Proportion of
shares
Name of the Enterprise Registrati voting right in
Corporate Business nature Register capital held by
company nature on place invested
the
company (%)
Compan
y (%)
Co., Ltd. company property
management and
purchase and sales
of auto accessories
93
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(Continued)
Total assets dated 30 Total liability dated 30 Total net assets dated Current total Related
Name of the company Net profit Organization code
June 2014 June 2014 30 June 2014 operation revenue relationship
Shenzhen Tellus Jimeng
Joint venture 670026381
Investment Co., Ltd 163,764,405.48 44,417,879.63 119,346,525.85 -- 2,481.74
Shenzhen Tellus Hang Investment
Joint venture 682008316
Co., Ltd. 28,265,833.76 301,901.85 27,963,931.91 668,214.00 368,552.80
94
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
95
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
②Associated enterprise
Proportio Proportio
n of n of
shares voting
Registratio Register
Name of the company Enterprise nature Corporate Business nature held by right in
n place capital
the invested
Company company
(%) (%)
Shenzhen
Shenzhen Xinglong Machinery Mould Co., Ltd. Limited liability Property leasing, import the enterprise required raw materials, equipment and spare paets export mold
Zhang Ruili 60,633,300.00 30 30
company and parts
Shenzhen
Shenzhen Tellus Auto Service Chain Co., Ltd. Limited liability
Wu Yonggang Auto repair and rental 2,000,000.00 40 40
company
Shenzhen
Shenzhen Zung Fu Tellus Auto Service Co., Ltd. Limited liability
Chen Haoxian Sales and maintain of Benz, assessment and sales of second-hand car 30,000,000.00 35 35
company
Shenzhen
Shenzhen Auto Industry Imp& Exp Co., Ltd. Limited liability Huang
Import and export of auto spare parts 13,250,000.00 35.75 35.75
company Weiqiang
Shenzhen
Shenzhen Dongfeng Auto Co., Ltd. Limited liability 100,000,000.0
Xu Tiansheng Auto manufacture and maintain 25 25
company 0
Shenzhen
Shenzhen New Yongtong Technology Co., Ltd. Limited liability
Li Jinlong Technical checking on motor vehicle, delection equipment technology development consulting 1,600,000.00 31 31
company
96
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Proportio Proportio
n of n of
shares voting
Registratio Register
Name of the company Enterprise nature Corporate Business nature held by right in
n place capital
the invested
Company company
(%) (%)
Shenzhen
Shenzhen New Yongtong Oil Pump Environment Protection Co., Limited liability Lan Zhongxin Consultant on diesel oil pump maintence and environment technology
250,000.00 31 31
Ltd. company
Shenzhen
Shenzhen New Yongtong Auto Service Co., Ltd. Limited liability Li Jianjun Maintenance of auto and motorcycle; auto beauty and sales of auto accessory
1,000,000.00 30 30
company
Shenzhen
Shenzhen New Yongtong Dongxiao Auto Service Co., Ltd. Limited liability Li Jianjun Auto 2nd class maintenance; sales of auto accessories
500,000.00 35 35
company
Shenzhen
Shenzhen Yongtong Xinda Inspection Equipment Co., Ltd. Limited liability Huang Peibo Technology development of inspection equipment and sales
1,000,000.00 40 40
company
Shenzhen
Shenzhen New Yongtong Consultant Co., Ltd. Limited liability Lan Zhongxin Auto management , technology consultant; network maintenance etc.
160,000.00 30 30
company
Shenzhen
Shenzhen Tellus New Yongtong Auto Service Co., Ltd. Limited liability
Li Jinlong Auto maintenance, leasing, development and sales of infoemation technology 2,800,000.00 18 18
company
(Continued)
97
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Total assets Total liability Total net assets Current total
Organization
Name of the company dated 30 June dated 30 June dated 30 June operation Net profit Related relationship
code
2014 2014 2014 revenue
Shenzhen Xinglong Machinery Mould Co., Ltd. 256,020,993.74 191,041,856.92 64,979,136.82 -- -- Affiliation 192172420
Shenzhen Tellus Auto Service Chain Co., Ltd. 1,542,572.21 9,582,153.75 -8,039,581.54 -- -1,389.43 Affiliation 767583926
Shenzhen Zung Fu Tellus Auto Service Co., Ltd. 428,934,219.71 210,343,824.26 218,590,395.45 706,759,017.70 18,521,442.74 Affiliation 774131792
Shenzhen Auto Industry Imp& Exp Co., Ltd. 35,036,468.51 12,101,433.26 22,935,035.25 10,183,747.30 -279,011.27 Affiliation of subsidiary 192190506
Shenzhen Dongfeng Auto Co., Ltd. 556,126,427.18 420,485,737.09 135,640,690.09 104,332,338.01 6,013,464.08 Affiliation of subsidiary 19218689X
Shenzhen New Yongtong Technology Co., Ltd. 3,143,578.18 1,553,484.08 1,590,094.10 1,988,334.00 -46,170.85 Affiliation of subsidiary 674800717
Shenzhen New Yongtong Oil Pump Environment Protection Co., Ltd. -- -- -- -- -- Affiliation of subsidiary 674823599
Shenzhen New Yongtong Auto Service Co., Ltd. 2,794,834.76 2,344,096.55 450,738.21 2,314,297.63 -293,509.88 Affiliation of subsidiary 68376659X
Shenzhen New Yongtong Dongxiao Auto Service Co., Ltd. 2,218,526.23 1,976,582.36 241,943.87 1,107,463.63 -260,468.48 Affiliation of subsidiary 683763583
Shenzhen Yongtong Xinda Inspection Equipment Co., Ltd. 4,163,204.92 4,027,497.68 135,707.24 474,700.86 -275,000.00 Affiliation of subsidiary 678587925
Shenzhen New Yongtong Consultant Co., Ltd. 341,587.62 203,055.89 138,531.73 -- -- Affiliation of subsidiary 685393889
Shenzhen Tellus New Yongtong Auto Service Co., Ltd. 2,195,984.21 4,790,010.51 -2,594,026.30 1,212,275.33 -244,513.34 Affiliation of subsidiary 685350360
98
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(6)Details of long-term equity investment impairment
Increase in the Decrease in the
Item 2013-12-31 2014-6-30
period period
Investment in associated companies
Shenzhen New Yongtong Oil Pump
127,836.59 -- -- 127,836.59
Environment Protection Co., Ltd.*
Other long-term equity investment
Shenzhen Xiandao Chemical Industrial New 4,751,621.62 4,751,621.62
-- --
Material Co., Ltd.
Hunan Changyang Industrial Co., Ltd. 1,810,540.70 -- -- 1,810,540.70
Shenzhen hanli Hi-Tech Ceramics Co., Ltd. 1,956,000.00 -- -- 1,956,000.00
Shenzhen Jiecheng Electronic Co., Ltd. 3,225,000.00 -- -- 3,225,000.00
Shenzhen Jingwei Industrial Co., Ltd. 4,000,000.00 -- -- 4,000,000.00
Shenzhen (Masco) Co., Ltd. 825,000.00 -- -- 825,000.00
Wuhan Weite Hotel 640,000.00 -- -- 640,000.00
Shenzhen Petroleum & Chemical (Group) Co., 700,000.00 700,000.00
-- --
Ltd.
South Auto Maintenance Center 6,700,000.00 -- -- 6,700,000.00
Shenzhen General Standard Co., Ltd. 500,000.00 -- -- 500,000.00
Shenzhen Huoju Spark Plug Industry Co., Ltd. 17,849.20 -- -- 17,849.20
China Auto South Auto Sales Co., Ltd. 2,250,000.00 -- -- 2,250,000.00
China Auto Industrial Shenzhen Trading 400,000.00 400,000.00
-- --
Company
Electric vehicles 600,000.00 -- -- 600,000.00
Shenzhen Jinhe Standard Mould Co., ltd. 453,440.00 -- -- 453,440.00
China Auto Training Center 600,000.00 -- -- 600,000.00
Shenzhen Bailiyuan Power Supply Co., Ltd 1,320,000.00 -- -- 1,320,000.00
Dratini (Zeng Wengang) 162,000.00 -- -- 162,000.00
Shenzhen Yimin Auto Tranding Co., Ltd. 200,001.10 -- -- 200,001.10
Hong Kong Rishen 145,800.00 -- -- 145,800.00
99
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Total 31,385,089.21 -- -- 31,385,089.21
11. Investment real estate
(1)Details of investment real estate
Item 2013-12-31 Increase in the period Decrease in the period 2014-6-30
Investment real estate subsequent measured by
88,422,673.91 -- 2,285,646.54 86,137,027.37
cost model
Less: provision for impairment of investment
-- -- -- --
real estate
Total 88,422,673.91 -- 2,285,646.54 86,137,027.37
(2) Investment real estate measured by cost
Increase in the Decrease in the
Item 2013-12-31 2014-6-30
period period
I. Total original book value 157,934,497.31 -- -- 157,934,497.31
Houses and buildings 157,934,497.31 -- -- 157,934,497.31
II. Accumulated depreciation and
69,511,823.40 2,285,646.54 -- 71,797,469.94
accumulated amortization
Houses and buildings 69,511,823.40 2,285,646.54 -- 71,797,469.94
III. Total provision for impairment -- -- -- --
Houses and buildings -- -- -- --
IV. Total book value 88,422,673.91 86,137,027.37
Houses and buildings 88,422,673.91 86,137,027.37
Note: ① depreciation for the Period was 2,285,646.54 Yuan.
(3) Investment real estate with restriction in ownership
On 30 June 2014, the investment real estate with book value of 82,793,946.64 Yuan (original value
of 150,934,356.34 Yuan) was mortgaged for the 60 million Yuan ―Comprehensive Credit Contract‖
with Shenzhen branch of CITIC, the 120 million Yuan ―Financing Credit Agreement‖ with the
Shenzhen branch of SPD Bank and 48 million Yuan ―Basic Line of Credit Contract‖ with Shenzhen
Tian’an branch of Industrial Bank. The borrowing balance for underlying security dated 30 June
2014 was: short term loans 129 million Yuan (Note VII.20), long-term loans 52 million Yuan (Note
VII. 28) and 12 million Yuan long-term loans due within one year (Note VII. 27)
100
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(4) As of 30 June 2014, no impairment been found in investment real estate of the Company, no
corresponding assets for impairment accrual.
12. Fixed assets
(1) Particular about fixed assets
Increase in the Decrease in the
Item 2013-12-31 2014-6-30
period period
I. Total book balance 317,196,458.05 305,819.80 770,031.93 316,732,245.92
Including: House & buildings 271,461,252.09 - - 271,461,252.09
Machinery equipments 20,030,803.65 3,611.11 - 20,034,414.76
Transportation tools 7,102,578.90 - 760,301.93 6,342,276.97
Electronic equipment 9,947,993.60 271,740.69 9,730.00 10,210,004.29
Office and other equipment 5,792,338.71 30,468.00 - 5,822,806.71
Decoration charge of
2,861,491.10 - - 2,861,491.10
self-owned houses
II. accumulated depreciation
Total accumulated
161,651,252.18 4,233,953.70 688,737.76 165,196,468.12
depreciation
Including: House & buildings 124,871,914.63 3,578,966.48 - 128,450,881.11
Machinery equipments 15,768,665.36 124,971.64 - 15,893,637.00
Transportation tools 5,704,485.10 224,427.35 679,618.82 5,249,293.63
Electronic equipment 7,553,762.51 260,957.46 9,118.94 7,805,601.03
Office and other equipment 5,183,078.95 44,630.77 - 5,227,709.72
Decoration charge of
2,569,345.63 - - 2,569,345.63
self-owned houses
III. total net value 155,545,205.87 151,535,777.80
Including: House & buildings 146,589,337.46 143,010,370.98
Machinery equipments 4,262,138.29 4,140,777.76
Transportation tools 1,398,093.80 1,092,983.34
Electronic equipment 2,394,231.09 2,404,403.26
101
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Increase in the Decrease in the
Item 2013-12-31 2014-6-30
period period
Office and other equipment 609,259.76 595,096.99
Decoration charge of
292,145.47 292,145.47
self-owned houses
IV. total impairment provision 5,576,542.07 -- -- 5,576,542.07
Including: House & buildings 3,555,385.70 -- -- 3,555,385.70
Machinery equipments 1,646,060.95 -- -- 1,646,060.95
Transportation tools 6,165.00 -- -- 6,165.00
Electronic equipment 17,984.71 -- -- 17,984.71
Office and other equipment 69,562.98 -- -- 69,562.98
Decoration charge of
281,382.73 -- -- 281,382.73
self-owned houses
V. total book value 149,968,663.80 145,959,235.73
Including: House & buildings 143,033,951.76 139,454,985.28
Machinery equipments 2,616,077.34 2,494,716.81
Transportation tools 1,391,928.80 1,086,818.34
Electronic equipment 2,376,246.38 2,386,418.55
Office and other equipment 539,696.78 525,534.01
Decoration charge of
10,762.74 10,762.74
self-owned houses
Note: Depreciation in this period amounting to RMB 4,233,953.70.Original price transfer from construction in progress to fixed
assets amounting as RMB 0.00 in this year.
(2) Fixed assets with restriction in ownership
On 30 June 2014, the fix assets with book value approximately of 21,691,139.49 Yuan (original value of 36,216,402.19
Yuan) was mortgaged for the 18 million Yuan ―Comprehensive Credit Contract‖ with Shenzhen branch of CITIC and 40 million
Yuan ―Comprehensive Credit Contract‖ with Baihua branch of China Guangfa Bank. The borrowing balance for underlying security
dated 30 June 2014 was 33 million Yuan short-term loans (Note VII. 20) and 6.23 million Yuan note payable (Note VII.21)
(3) There was no temporary idle fixed asset at period-end.
102
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(4) There were no fixed assets leasing-in by financing lease at period-end.
(5) There were no fixed assets leasing-out by operational lease at period-end.
(6) There were no fixed assets held for sale in period-end at period-end.
(7) Fixed assets with un-completed property certificates
Item Original book value Book value
Yongtong Building 103,389,580.16 49,652,707.21
Automobile Building 33,707,119.96 21,627,519.19
Plant in Taoyuan Road 9,255,094.00 5,186,216.56
Zhongtian Complex Building 3,259,325.31 1,476,894.42
Dormitory in Taoyuan Road 4,421,451.08 2,171,287.32
Zhonghe Building 8,312,377.03 6,142,788.15
No.188, Renmin Road (N) 196,747.13 5,902.41
No.100, Bao’an Section 2,457,540.00 1,328,212.53
5 rooms in Buxin Songquan Apartment 336,226.20 67,124.90
Total 165,335,460.87 87,658,652.69
The above said house & building shows no expected time for finished their property certificate due to the problem left over by
history.
13. Construction in process
(1) Basic situation of construction in process
2014-6-30 2013-12-31
Item
Book balance Provision reserve Carrying value Book balance Provision reserve Carrying value
Shuibei Jewelry Building 85,849,620.32 -- 85,849,620.32 41,642,020.40 -- 41,642,020.40
Other -- -- -- -- -- --
Total 85,849,620.32 -- 85,849,620.32 41,642,020.40 -- 41,642,020.40
(2) Changes of major projects under construction
Transfer to
Increase in the Other
Name Budget 2013-12-31 fixed assets in 2014-6-30
period decrease
the period
103
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Shuibei Jewelry Building* 413,640,000 41,642,020.40 44,207,599.92 -- -- 85,849,620.32
Total 41,642,020.40 44,207,599.92 -- -- 85,849,620.32
(Cont.)
Interest
Proportion of
Accumulated Including: interest capitalization
Name amount of interest capitalized amount project investment Progress Capital source
capitalization of the year rate of the
year (%) in budget (%)
Shuibei Jewelry
4,191,386.72 2,211,400.03 -- 20.42% Self-raised
Building
Total 4,191,386.72 2,211,400.03 -- 20.42% 自筹
14. Intangible assets
(1) Particular about intangible assets
Decrease in the
Item 2013-12-31 Increase in the period 2014-6-30
period
I. total original value 325,000.00 52,952,908.00 -- 53,277,908.00
Trademark right 75,000.00 -- -- 75,000.00
Software 250,000.00 274,685.00 -- 524,685.00
Land use rights -- 52,678,223.00 -- 52,678,223.00
II. total accumulated amortization 291,744.96 112,419.48 -- 404,164.44
Trademark right 41,744.96 3,750.00 -- 45,494.96
Software 250,000.00 18,312.32 -- 268,312.32
Land use rights -- 90,357.16 -- 90,357.16
III. Total impairment accumulative -- -- -- --
Trademark right -- -- -- --
Software -- -- -- --
Land use rights -- -- -- --
IV. Total book value 33,255.04 -- -- 52,873,743.56
Trademark right 33,255.04 -- -- 29,505.04
Software -- -- -- 256,372.68
Land use rights -- -- -- 52,587,865.84
Note: The amount amortized in this period accounting as RMB 112,419.48.
104
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
15. Long-term deferred expense
Amortizatio Other Reasons for
Increase in
Item 2013-12-31 n during this decrea 2014-6-30 other
the period period se
decrease
Decoration charge 685,239.38 9,230.00 136,691.17 - 557,778.17
Insurance charge for pledge from the bank and
162,799.58 - 49,874.04 - 112,925.58
commitment charge for loan limit
Total 848,039.96 9,230.00 186,565.21 - 670,703.75
16. Deferred income tax assets/ deferred income tax liabilities
(1) Recognized deferred income tax assets and deferred income tax liabilities
① Recognized deferred income tax assets
2014-6-30 2013-12-31
Item Deferred income tax offset-able differences and Deferred income offset-able differences and
assets offset-able losses tax assets offset-able losses
Provision of assets 19,654,147.70 78,616,590.74 19,645,247.90 78,580,991.56
impairment
Equity investment difference 3,711,034.83 14,844,139.31 3,711,034.83 14,844,139.31
Un-realized transaction profit
1,190,948.88 4,763,795.52 1,210,419.98 4,841,679.92
with affiliated companies
Total 24,556,131.41 98,224,525.57 24,566,702.71 98,266,810.79
② Recognized deferred income tax liabilities
2014-6-30 2013-12-31
Item Deferred income tax Taxable temporary Deferred income tax Taxable temporary
liabilities difference liabilities difference
Depreciation of fixed assets 846,146.21 3,384,584.84 969,445.98 3,877,783.92
Change of fair value of
financial asset available for
256,554.88 1,026,219.52 278,641.88 1,114,567.52
sale included in capital
reserve
Total 1,102,701.09 4,410,804.36 1,248,087.86 4,992,351.44
105
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
（2）Details of unrecognized deferred income tax assets
Item 2014-6-30 2013-12-31
Offset-able differences 20,855,384.70 20,855,384.70
Offset-able losses 15,039,008.41 16,879,644.87
Total 35,894,393.11 37,735,029.57
(3) Offset-able losses of the unrecognized deferred income tax assets will expire the
following year
Year 2014-6-30 2013-12-31 Note
2014 3,660,259.13 16,785,106.07
2015 9,065,002.36 9,065,002.36
2016 9,597,431.58 9,597,431.58
2017 8,299,651.49 8,299,651.49
2018 23,771,388.00 23,771,388.00
2019 5,762,301.07 --
Total 60,156,033.63 67,518,579.50
17. Other non-current assets
Item 2014-6-30 2013-12-31
50% land price in advance to Shuibei Jewelry Building -- 26,339,112.00
Total -- 26,339,112.00
18. Details of asset Impairment Provision
Provision in the Decrease in the period 2014-6-30
Item 2013-12-31
period Written back Transferred
I. bad debt provision 98,445,100.88 35,599.18 -- -- 98,480,700.06
II. Held-to-maturity investment 20,000.00 20,000.00
-- -- --
impairment provision
III. Inventory impairment provision 28,755,001.87 -- -- -- 28,755,001.87
IV. Long-term equity investment 31,385,089.21 31,385,089.21
-- -- --
impairment provision
106
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Provision in the Decrease in the period 2014-6-30
Item 2013-12-31
period Written back Transferred
V. Fixed assets impairment provision 5,576,542.07 -- -- -- 5,576,542.07
Total 164,181,734.03 35,599.18 -- -- 164,217,333.21
19. Assets with restriction in ownership or the right to use
Item 2014-6-30 Restriction reasons
Subtotal of assets for guarantee:
Investment real estate 82,793,946.64 Mortgage for bank loans
Fixed assets 21,691,139.49 Mortgage for bank loans and bank acceptance
Total 104,485,086.13
20. Short-term loans
(1) Type of Short-term Loans
Item 2014-6-30 2013-12-31
Collateral loan 162,000,000.00 90,217,530.93
Guarantee loans 20,741,296.00 20,752,422.00
Total 182,741,296.00 110,969,952.93
The category and amount of assets mortgaged for loans found more in Note VII.11 and Note VII. 12
The guarantee loans in the Period including 18,941,296.00 Yuan borrowings from parent company Shenzhen SDG Co., Ltd.,
payment term was not specified.
(2) There are no overdue loans in this report period-end.
21. Note payable
Type 2014-6-30 2013-12-31
Bank acceptance 6,225,651.90 15,920,748.09
Trade acceptance -- --
Total 6,225,651.90 15,920,748.09
22. Account payables
(1)Details of Account payables
Item 2014-6-30 2013-12-31
Account payables 22,062,234.53 22,008,010.24
Total 22,062,234.53 22,008,010.24
107
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(2) Accounts payable to shareholders or related party holding 5% (5% included) or above voting shares of the Company in reporting
period, found more details in (2) Account payable/receivable in advance to related party of Note VIII. 6
(3) Explanation on major account payable with over one year age:
Return after statement
Creditor Amount Unsettled reasons
date or not
Not paid from related
Shenzhen SDG Real Estate Co., Ltd. 6,054,855.46 No
company
Total 6,054,855.46
23. Account received in advance
(1) Classify by age
Item 2014-6-30 2013-12-31
within 1 year 1,504,132.84 21,318,369.31
1-2 years 38,816.50 38,816.50
2-3 years 23,139.00 41,632.58
Over 3 years 662,551.70 689,048.12
Total 2,228,640.04 22,087,866.51
The account received in advance with over 3 year account age refers to the amount received in advance from subsidiary Inspection
Equipment Company, the amount was not carried forward due to the client un-accepted for in process of equipment installation and
debugging.
(2)In the period, no account received in advance from shareholders with 5% (5%included) voting shares of the Company or related
companies.
24. Wages payable
Decrease in the
Item 2013-12-31 Increase in the period 2014-6-30
period
I. Wage, bonus, allowance and subsidy 11,477,893.29 19,611,714.28 21,109,708.23 10,172,133.29
II. Employees’ welfare -- 925,014.62 925,014.62 --
III. Social security 715,031.09 4,691,947.96 4,840,396.14 195,088.83
IV. Housing public reserve 1,628,327.80 1,484,951.63 1,474,760.10 2,003,259.16
108
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
V. Labor union expenditure and employee
339,784.94 509,102.18 594,657.76 253,550.16
education expenses
VI. Compensation from labor relationship
-- 244,818.37 244,818.37 --
dismissed
VII. Other 247,650.50 84,035.00 82,830.00 64,055.00
Total 14,408,687.62 27,551,584.04 29,272,185.22 12,688,086.44
25. Tax payable
Item 2014-6-30 2013-12-31
VAT 575,208.45 547,825.41
Business tax 801,302.00 846,602.53
Enterprise income tax 1,082,277.96 8,474,718.22
Property right tax 848,779.91 847,387.91
land VAT 5,362,442.05 5,362,442.05
Land use tax 163,153.47 171,606.95
Personal income tax 76,187.93 89,774.62
City maintenance and construction tax 97,792.37 128,615.66
Educational surcharge 140,163.99 162,890.42
Embankment fee 160.79 1,687.03
Other 28,105.87 53,711.42
Total 9,175,574.79 16,687,262.22
26. Other payables
Item 2014-6-30 2013-12-31
Relevance contact, borrowings and interests 62,065,414.60 58,996,200.34
Deposit and margin 13,459,101.47 12,242,528.34
Compensation of joint liability for 2,130,200.00 2,130,200.00
Guangming Case*
Other 38,043,645.75 34,440,656.98
Total 115,698,361.82 107,809,585.66
(1) Other payable to shareholders or related party holding 5% (5% included) or above voting shares of the Company in reporting
109
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
period, found more details in (2) Account payable/receivable in advance to related party of Note VIII. 6
(2) Explanation on other payable with major amount
Creditor 2014-6-30 Age Nature or content
Shenzhen SDG Co., Ltd. 56,820,523.00 Over 3 years Relevance contact, borrowings and interests
Total 56,820,523.00
27. Non-current liability due within one year
(1)Details of long-term liabilities due within one year
Item 2014-6-30 2013-12-31
Long-term loans due within one year (Note VII. 28) 12,000,000.00 12,000,000.00
Total 12,000,000.00 12,000,000.00
(2) Long-term loans due within one year
①Details of long-term loans due within one year
Item 2014-6-30 2013-12-31
Collateral loan 12,000,000.00 12,000,000.00
Total 12,000,000.00 12,000,000.00
②Top five long-term loans due within one year
Starting
Termination date Currenc
Unit date for Rate (%) 2014-6-30 2013-12-31
for loans y
loans
Paid 1.5 million
Yuan every 3
Shenzhen Branch of CITIC Bank 2012/7/27 7.0725 RMB 6,000,000.00 6,000,000.00
months since 27
Oct. 2012
Paid 1.5 million
Shenzhen Branch of Shanghai Yuan every 3
2012/9/27 6.4575 RMB 6,000,000.00 6,000,000.00
Pudong Development Bank months since 27
Dec. 2012
Total 12,000,000.00 12,000,000.00
③ No overdue loans in long-term loans due within one year
110
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
28. Long-term loan
(1) Category of long-term loans
① Category of long-term loans
Item 2014-6-30 2013-12-31
Collateral loan 64,000,000.00 70,000,000.00
Loan in credit 73,000,000.00 73,000,000.00
Less: long-term loans due within one year
12,000,000.00 12,000,000.00
(Note VII. 27)
Total 125,000,000.00 131,000,000.00
The category and amount of assets mortgaged for collateral loans found more in Note VII.11
The loan in credit refers to the borrowings from parent company Shenzhen SDG Co., Ltd.
②Top five long-term loans
Starting date Termination Currenc
Unit Rate (%) 2014-6-30 2013-12-31
for loans date for loans y
Shenzhen SDG Co., Ltd. 2012/12/25 2015/12/24 6.00 RMB 73,000,000.00 73,000,000.00
Shenzhen Branch of CITIC Bank 2012/7/27 2015/7/27 7.0725 RMB 19,500,000.00 22,500,000.00
Shenzhen Branch of Shanghai RMB
Pudong Development Bank 2012/9/27 2015/9/27 6.4575 32,500,000.00 35,500,000.00
Total 125,000,000.00 131,000,000.00
29. Long-term account payable
(1) Category of long-term account payable
Item 2014-6-30 2013-12-31
Deposit of staff residence 3,908,848.40 3,908,848.40
Allocation for technology innovation projects 11,311.96 11,311.96
Dongfeng Motor Company 9,399,521.23 9,399,521.23
Total 13,319,681.59 13,319,681.59
30. Other non-current liability
Item Content 2014-6-30 2013-12-31
Deferred income Unearned rent *Note① 31,211,904.55 29,823,013.37
111
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Content 2014-6-30 2013-12-31
Total 31,211,904.55 29,823,013.37
*Note ①: the rent pre-collected from Shuibei Jewelry Building, the Company subsequently
stated at amortized cost using the effective interest method.
31. Share capital
Increased/decreased (+,-) in the
Item 2013-12-31 2014-6-30
Period
Shares
Bon
New converted
us Othe Sub-
Amount Ratio shares from Amount Ratio
shar r total
issued public
es
reserve
I. Restricted shares
1. State-owned shares -- -- -- -- -- -- -- -- --
2. State-owned legal
person’s shares 14,587,056.00 6.62% -- -- -- -- -- 14,587,056.00 6.62%
3. Other domestic shares -- -- -- -- -- -- -- -- --
Including: Domestic legal
person’s shares -- -- -- -- -- -- -- -- --
Domestic natural person’s
shares -- -- -- -- -- -- -- -- --
4. Foreign shares -- -- -- -- -- -- -- -- --
Including: Foreign legal
person’s shares -- -- -- -- -- -- -- -- --
Foreign natural person’s
shares -- -- -- -- -- -- -- -- --
Total restricted shares 14,587,056.00 6.62% -- -- -- -- -- 14,587,056.00 6.62%
II. Unrestricted shares
1. RMB Ordinary shares 179,294,544.00 81.39% -- -- -- -- -- 179,294,544.00 81.39%
2. Domestically listed
26,400,000.00 11.98% -- -- -- -- -- 26,400,000.00 11.98%
foreign shares
3. Overseas listed foreign
shares -- -- -- -- -- -- -- -- --
4. Others -- -- -- -- -- -- -- -- --
Total unrestricted shares 205,694,544.00 93.38% -- -- -- -- -- 205,694,544.00 93.38%
III. Total shares 220,281,600.00 100% -- -- -- -- -- 220,281,600.00 100%
Note: unrestricted shares including 131,283,504 shares held by parent company SDG
112
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
32. Capital reserves
Increase in the Decrease in the
Item 2013-12-31 2014-6-30
period period
Capital premium 3,024,773.35 -- -- 3,024,773.35
Other comprehensive income 835,925.67 -- 66,261.00 769,664.67
Including: Variation of the fair values of financial 835,925.67
-- 66,261.00 769,664.67
assets available for sale
Other capital reserve 4,647,832.16 -- -- 4,647,832.16
Total 8,508,531.18 -- 66,261.00 8,442,270.18
33. Surplus reserves
Increase in the
Item 2013-12-31 Decrease in the period 2014-6-30
period
Statutory surplus reserves 2,952,586.32 -- -- 2,952,586.32
Total 2,952,586.32 -- -- 2,952,586.32
34 Retained profits
(1) Changes of retained profits
Withdrawal or
Item Jan.- Jun. 2014 2013
Allocation Ratio
Undistributed profits at the end of last year before -47,291,479.26
-40,390,760.22
adjustment
Adjust the total undistributed profits at the beginning of the --
--
year (Increase +, Decrease -)
Undistributed profits at the beginning of the year after -47,291,479.26
-40,390,760.22
adjustment
Add: The net profits belong to owners of patent company 6,900,719.04
5,380,420.81
of this year
Cover losses by surplus reserves -- --
Other transfer in -- --
Less: Withdraw statutory surplus reserves -- --
Withdraw free surplus reserves -- --
Common stock dividends payable -- --
Common stock dividends transferred to capital stock -- --
113
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Retained profits at end of the year -35,010,339.41 -40,390,760.22
35. Operating income and cost
(1) Operating income and cost
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Main operating income 225,621,469.48 211,302,424.66
Other operating income 3,071,072.38 10,784,893.60
Total operating income 228,692,541.86 222,087,318.26
Main operating cost 193,600,770.84 181,245,324.99
Other operating cost 1,697,370.75 1,842,324.87
Total operating cost 195,298,141.59 183,087,649.86
(2) Primary business (By industries)
Jan.- Jun. 2014 Jan.- Jun. 2013
Industry
Operating income Operating cost Operating income Operating cost
Auto sales 159,587,553.83 155,270,536.50 140,623,182.08 139,147,318.08
Auto maintenance and repair 22,878,151.96 18,282,121.04 25,819,884.09 19,821,958.48
Leasing and services 43,155,763.69 20,048,113.30 44,859,358.49 22,276,048.43
Total 225,621,469.48 193,600,770.84 211,302,424.66 181,245,324.99
(3) Primary business (By districts)
Jan.- Jun. 2014 Jan.- Jun. 2013
District
Operating income Operating cost Operating income Operating cost
Shenzhen 225,621,469.48 193,600,770.84 211,302,424.66 181,245,324.99
Total 225,621,469.48 193,600,770.84 211,302,424.66 181,245,324.99
(4) The operating income of the top five customers of the Company
Operating income of the top five The percentage in all operating income
Customer
customers of the Company (%)
Shenzhen Zung Fu Tellus Co., Ltd. 2,575,000.02 1.13
Shenzhen Yiquan Investment Consultant Co., 1,764,000.00 0.77
Ltd.
114
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Shenzhen branch of Ping An Bank Co., Ltd. 1,329,022.20 0.58
Shenzhen Xingguangda Jewelry Industrial Co.,
1,257,306.00 0.55
Ltd
Chen Zhonghua 1,109,029.00 0.48
Total 8,034,357.22 3.51
36. Business tax and surcharges
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Business tax 1,952,501.60 2,356,351.15
City maintenance and construction tax 298,572.74 303,704.66
Education surcharge 212,774.01 216,822.23
Total 2,463,848.35 2,876,878.04
Note: Calculation standards for business tax and surcharges found more in Note V. Taxes
37. Sales expenses
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Employee compensation 5,271,556.10 5,007,223.41
Depreciation and amortization 667,978.08 614,301.93
Taxes 489,777.87 492,384.00
Office expenses 263,384.89 265,943.33
Operating expense 138,610.00 185,458.70
Advertising and exhibition expenses 39,381.94 368,256.66
Utilities 145,209.12 115,149.11
Transportation expenses 326,356.13 253,973.24
Communication postal fees 167,046.07 168,391.57
Other 1,672,722.1 1,971,293.34
Total 9,182,022.30 9,442,375.29
38. Administration expense
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Employee compensation 8,297,822.37 8,153,354.01
115
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Taxes 1,460,536.21 1,529,135.89
Office expenses 883,578.61 1,021,631.34
Depreciation and amortization 806,349.97 760,537.65
Travelling expense 373,744.40 529,831.95
Operating expense 438,464.00 698,050.50
Conference fee 149,600.06 274,807.56
Transportation expenses 871,444.00 911,919.70
Communication postal fees -- 278,062.36
Other 2,910,479.65 3,749,336.39
Total 16,192,019.27 17,906,667.35
39. Financial expenses
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Interest expenses 8,137,300.87 7,727,022.63
Less: Interest income 206,703.02 169,413.90
Exchange gains and losses 20,969.24 -38,375.55
Bank charges 277,596.25 270,849.60
Total 8,229,163.34 7,790,082.78
40. Investment income
(1) Particulars about investment income
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Income of long-term equity investment calculated based on equity 7,841,475.98 1,707,144.32
Investment income obtained during holding available-for-sale
financial assets -- 72,938.25
Total 7,841,475.98 1,780,082.57
Note: the repatriation of investment gains of the Group has no major restriction except the situation stated in Note VII 10(3)
(2) Income of long-term equity investment calculated based on equity
Company Jan.- Jun. 2014 Jan.- Jun. 2013 Reasons of change (+,-)
Shenzhen Zung Fu Tellus Auto Service Co., 6,482,504.95 951,521.96 Profit of the invested unit
116
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Company Jan.- Jun. 2014 Jan.- Jun. 2013 Reasons of change (+,-)
Ltd. increased
Shenzhen Dongfeng Motor Company Profit of the invested unit
1,503,366.02 642,704.20
increased
Other -144,394.99 112,918.16
Total 7,841,475.98 1,707,144.32
41. Asset impairment loss
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Bad debt loss 35,599.18 100,000.00
Total 35,599.18 100,000.00
42. Non-operating income
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Non-current assets disposal gains 172,812.80 215,227.83
Thereinto: fixed assets disposal gains 172,812.80 215,227.83
Penalty and liquidated damages income -- --
Others 52,439.11 7,333.93
Total 225,251.91 222,561.76
43. Non-operating expenditure
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Total losses from disposal of non-current assets -- 14,002.00
Including: losses from disposal of fixed assets -- 14,002.00
Other 2,633.01 9,751.00
Total 2,633.01 23,753.00
117
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
44. Income tax expense
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Current income tax calculated based on tax law and relevant rules 813,761.54 195,375.12
Deferred income tax adjustment -112,728.47 --
Total 701,033.07 195,375.12
45. Basic EPS (earnings per share) and diluted EPS
Basic EPS is calculated with divide current net profit attributable to the shareholders of ordinary shares of the Company by weighted
average number of ordinary shares outstanding. As for the ordinary shares newly issued, recognize according to detail terms of the
offering contract, since the date of consideration receivable (usually refers to the date stock issued).
Numerator of the diluted EPS will recognized after the followed factors adjusted based on current net profit attributable to
shareholders of ordinary shares of the Company: (1) interest of dilutive potential ordinary share which was recognized as expenses;
(2) income or expenses while the dilutive potential ordinary share converted; and (3) impact on income tax with the above mentioned
adjustment concerned
Denominator of diluted EPS equals the followed two items: (1) weighted average number of ordinary shares outstanding of the
parent company in basic EPS; and (2) weighted average number of ordinary shares, which was increased from conversion of dilutive
potential ordinary share under circumstance of assumption
The dilutive potential ordinary share issued in previous period, assuming to converted in the year, while calculated the weighted
average number of ordinary shares, which was increased from conversion of dilutive potential ordinary share; the dilutive potential
ordinary share issued in the year, assuming to convert on the offering date.
(1) Basic EPS and diluted EPS
Jan.- Jun. 2014 Jan.- Jun. 2013
Profit in the period
Basic EPS Diluted EPS Basic EPS Diluted EPS
Net profit attributable to the
shareholders of ordinary 0.0244 0.0244 0.017 0.017
shares of the Company
Net profit attributable to the
shareholders of ordinary
shares after the deduction of 0.0237 0.0237 -0.015 -0.015
non-recurring gains and
losses
(2) Calculation of basic earnings per share and diluted earnings per share
①Net profit attributable to shareholders of ordinary shares while basic EPS counts:
Item Current period Last period
Net profit attributable to the shareholders of ordinary shares 5,380,420.81 3,746,434.89
Including: net profit attributable to sustainable operation 5,380,420.81 3,746,434.89
118
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Current period Last period
Net profit attributable to discontinued operation -- --
Net profit attributable to the shareholders of ordinary shares of the
5,215,240.02 -3,413,773.73
Company after deducting non-recurring gains/losses
Including: net profit attributable to sustainable operation 5,215,240.02 -3,413,773.73
Net profit attributable to discontinued operation -- --
In the period, the Company has no dilutability potential ordinary shares, thus, the diluted EPS is equals to the basic EPS
②Denominator refers to the weighted average amount of ordinary shares issued while basic EPS
counts:
Item Current period Last period
Number of ordinary shares outstanding at year-begin 220,281,600.00 220,281,600.00
Add: Weighted average number of ordinary shares
-- --
outstanding this year
Less: Weighted average number of ordinary shares buy-back
-- --
in the year
Weighted average number of ordinary shares outstanding at
220,281,600.00 220,281,600.00
year-end
46. Other comprehensive income
Item Current period Last period
① Gains (losses) amount generated by available-for-sale financial assets -88,348.00 -248,916.25
Less: affected by income tax generated by available-for-sale financial assets -22,087.00 --
Net amount reckoned in other comprehensive income at earlier stage but
-- --
turned to gains and losses at the current period
Subtotal -66,261.00 -248,916.25
②Other -- --
Less: affected by income tax reckoned in other comprehensive income -- --
Net amount reckoned in other comprehensive income at earlier stage but turned
-- --
to gains and losses at the current period
Subtotal -- --
Total -66,261.00 -248,916.25
47. Notes to statement of cash flow
(1) Other cash received in relation to operation activities
119
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Contact amount between related parties 1,164,466.17 22,490,881.00
Interest income 168,989.20 169,413.90
Income from penalty and compensation received 3,614.82 --
Other operating temporary receipts 24,422,700.48 28,008,026.45
Total 25,759,770.67 50,668,321.35
(2) Other cash paid in relation to operation activities
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Contact amount between related parties 18,700,479.91 28,709,172.94
Expenses of cash paid 3,731,935.00 3,669,178.50
Expenses of management cash paid 7,691,534.93 8,876,900.21
Total 30,123,949.84 41,255,251.65
(3) Cash paid related with investment activities
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Service charge and handling charge of housing transaction -- 384,657.57
Total -- 384,657.57
(4) Cash paid related with financing activities
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Cash paid for financing costs occurred -- 20,000.00
Total -- 20,000.00
48. Supplementary information to statement of cash flow
(1)Net profit adjusted to cash flow of operation
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Net profit adjusted to cash flow of operation activities:
Net profit 4,654,809.64 2,667,181.15
Add: Provision of assets impairment 35,599.18 100,000.00
Depreciation of fixed assets, consumption of oil assets and depreciation of productive biology assets 6,519,600.24 6,169,692.35
Amortization of intangible assets 112,419.48 28,749.96
Amortization of long-term deferred expenses 186,565.21 160,868.85
Loss from disposal of fixed assets, intangible assets and other long-term assets(gain is listed with ―-‖) -172,812.80 -7,247,156.82
120
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Loss of disposing fixed assets(gain is listed with ―-‖) -- --
Loss from change of fair value(gain is listed with ―-‖) -- --
Financial expenses (gain is listed with ―-‖) 8,137,300.87 7,727,022.63
Investment loss (gain is listed with ―-‖) -7,841,475.98 -1,780,082.57
Decrease of deferred income tax asset( (increase is listed with ―-‖) 10,571.30 --
Increase of deferred income tax liability (decrease is listed with ―-‖) -123,299.77 --
Decrease of inventory (increase is listed with ―-‖) 19,059,705.51 11,691,081.34
Decrease of operating receivable accounts (increase is listed with ―-‖) -11,071,423.18 -16,154,336.58
Increase of operating payable accounts (decrease is listed with ―-‖) -23,692,871.66 32,935,442.06
Others -- --
Net cash flow arising from operating activities -4,185,311.96 36,298,462.37
(2) Constitution of cash and cash equivalent
Item 2014-6-30 2013-12-31
① Cash 55,861,580.07 63,166,448.10
Including: stock cash 146,293.44 126,751.33
Bank deposit available for payment at any time 55,712,194.45 63,018,754.91
Other monetary fund available for payment at any time 3,092.18 20,941.86
②Cash equivalent -- --
Including: bond investment matured within 3 months -- --
③Balance of cash and cash equivalent at year-end 55,861,580.07 63,166,448.10
VIII. Related Parties and Transactions
1. Parent company of the Company
Legal
Registration
Parent company Relationship Nature representativ Business nature
place
e
Limited Development and operation of
Parent Zhang
Shenzhen SDG Co., Ltd. liability Shenzhen real estate and domestic
company company Junlin
commerce
(Cont.)
121
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Proportion of shares
Registered Proportion of voting right Final controller of the Organization
Parent company held to the
capital to the Company (%) Company code
Company (%)
Shenzhen SDG Co.,
1,582,820,000 66.22 66.22 SASAC of Shenzhen 192194195
Ltd.
2. Subsidiary of the Company
Found more in Note VI. 1: Particular about subsidiary
3. Details of joint-venture and affiliated enterprise of the Company
Found more in Note VI. 10(5)
4. Particulars about other related parties
Other related parties Relationship Organization code
Shenzhen SDG Swan Industrial Company Ltd. Subsidiary of parent company 192473856
Shenzhen Machinery Equipment Imp & Exp. Subsidiary of parent company 19034097X
Company
Shenzhen SDG Real Estate Co., Ltd. Subsidiary of parent company 279365997
Hong Kong Yujia Investment Co, Ltd. Subsidiary of parent company
Shenzhen Tellus Real Estate Yueyang Co., Subsidiary of parent company
Shenzhen SDG Development Center Construction Subsidiary of parent company 192260957
Supervision Co., Ltd.
Shenzhen Tellus Yangchun Real Estate Co., Ltd. Subsidiary of parent company
Shenzhen Longgang Tellus Real Estate Co., Ltd. Subsidiary of parent company
5. Related transaction
(1) Related transaction with commodity, labor service and operating lease concerned
①Related transaction of goods purchasing/accepting labor service/operating rent-in
Jan.- Jun. 2014 Jan.- Jun. 2013
Pricing way
Ratio in
and decision
Related party Content Ratio in similar similar
making Amount Amount
transactions (%) transactions
procedures
(%)
-- -- -- -- -- -- --
②Related transaction of goods sold/ labor service providing/operating rent-out
Related party Content Pricing way Jan.- Jun. 2014 Jan.- Jun. 2013
122
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
and decision Ratio in
making Ratio in similar similar
Amount Amount
procedures transactions (%) transactions
(%)
Shenzhen Zung Fu Tellus House Market
2,575,000.02 5.97 2,575,000.02 5.74
Auto Service Co., Ltd. leasing pricing
Shenzhen New Yongtong
House Market
Automobile Services Co., 188,958.00 0.44 185,277.00 0.41
leasing pricing
Ltd.
Shenzhen New Yongtong
House Market
Dongxiao Auto Service 138,600.00 0.32 135,900.00 0.30
leasing pricing
Co., Ltd.
(2) Related leasing
①Act as a lessor for the Group
Leasing
Pricing basis
Type of Terminate income
Lessor Lessee Starting from for leasing
leasing d dated recognized in
income
the year
Shenzhen Tellus (Group) Shenzhen Zung Fu
House,
Co., Ltd. Tellus Auto Service Co., 2005-1-1 2025-1-1 Contract price 5,150,000.00
building
Ltd.
Shenzhen Tellus New Shenzhen New
House,
Yongtong Automobile Yongtong Automobile 2012-4-1 2015-3-31 Contract price 380,370.00
building
Development Co. Ltd Services Co., Ltd.
Shenzhen Tellus New Shenzhen New
House,
Yongtong Automobile Yongtong Dongxiao 2012-4-1 2015-3-31 Contract price 279,000.00
building
Development Co. Ltd Auto Service Co., Ltd.
(3) Related guarantee
There was no related guarantee in the period.
(4) Borrowed funds from related party
Starting Terminated
Related party Borrowed funds Note
from dated
Borrow-in:
Shenzhen SDG Co., Ltd. 73,000,000.00 2012/12/25 2015/12/24
In addition to the loan, between the issuer and its subsidiaries andidiopathic group because
123
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
of historical reasons for the formation of a number of debtor creditor relationship, Mainly
because short-term borrowing for idiopathic group rite group formed by transfer of credit and other
reasons, as well as the special group because offunds between history and interest
payable without repayment on the formation of other payables.of the group.
(5) Related fund occupation expenses
Fund occupation expenses Jan.- Jun. 2014 Jan.- Jun. 2013
Lending funds from the Group:
Shenzhen Xinglong Machinery Mould Co., ltd. 37,708.32 37,708.32
Borrowing funds by the Group:
Shenzhen SDG Development Center Construction
Supervision Co., Ltd. -- --
Shenzhen SDG Co., Ltd. 2,632,260.00 2,632,260.00
Pricing policy: accounted the fund occupation expenses on market interest rate for inter-bank borrowing and lending transaction
(6) Remuneration of the key management personnel
Annual remuneration section Jan.- Jun. 2014 Jan.- Jun. 2013
Total 2.63 million Yuan 2.65 million Yuan
Including: (numbers in every amount section)
Over 0.2 million Yuan 10 10
0.15 million Yuan ～0.2 million Yuan 0 0
0.1 million Yuan ～1.5 million Yuan 0 0
Under 0.1 million Yuan 3 4
6. Account receivable/payable for related parties
(1) Account receivable / paid in advance from/to related party
2014-6-30 2013-12-31
Item Book balance Provision for Book balance Provision for bad
bad debts debts
Account receivable:
Shenzhen New Yongtong Automobile Services 927,602.00 336,254.35 927,602.00 336,254.35
Co., Ltd.
Shenzhen New Yongtong Dongxiao Auto Service 680,400.00 246,645.00 680,400.00 246,645.00
124
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
2014-6-30 2013-12-31
Item Book balance Provision for Book balance Provision for bad
bad debts debts
Co., Ltd.
Total 1,608,002.00 582,899.35 1,608,002.00 582,899.35
Other account receivable:
Shenzhen Tellus Auto Service Chain Co., Ltd. 1,359,297.00 1,359,297.00 1,359,297.00 1,359,297.00
Shenzhen New Yongtong Technology Co., Ltd. 116,480.22 44,388.01 167,760.22 44,388.01
Shenzhen Yongtong Xinda Inspection Equipment -- 515,235.47 --
Co., Ltd. 516,370.47
Shenzhen Xiandao Chemical New Material Co., 708,072.26 708,072.26 708,072.26 708,072.26
Ltd.
Shenzhen Xinglong Machinery Mould Co., ltd. 1,995,961.34 883,980.71 1,958,253.02 883,980.71
Shenzhen Tellus New Yongtong Auto Service Co., 204,776.33 102,388.17
ltd. 204,776.33 102,388.17
Shenzhen Tellus Hang Investment Co., ltd. -- -- -- --
Shenzhen Tellus GEM investment Co., Ltd. 9,483.57 -- 10,782.72 --
Total 4,910,441.19 3,098,126.15 4,924,177.02 3,098,126.15
Long-term account receivables
Shenzhen Tellus Auto Service Chain Co., Ltd. 2,179,203.68 2,179,203.68 2,179,203.68 2,179,203.68
Total 2,179,203.68 2,179,203.68 2,179,203.68 2,179,203.68
(2) Account payable/received in advance to/ from related party
Item 2014-6-30 2013-12-31
Short-term loans
Shenzhen SDG Co., Ltd. 18,941,296.00 18,952,422.00
Total 18,941,296.00 18,952,422.00
Account payable:
Shenzhen SDG Real Estate Co., Ltd. 6,054,855.46 6,054,855.46
Shenzhen Machinery Equipment Imp & Exp. 45,300.00 45,300.00
125
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Company
Total 6,100,155.46 6,100,155.46
Other account payable:
Shenzhen SDG Real Estate Co., Ltd. 335,701.34 335,701.34
Hong Kong Yujia Investment Co, Ltd. 1,836,580.68 1,816,174.87
Shenzhen SDG Swan Industrial Company Ltd. 20,703.25 20,703.25
Shenzhen Machinery Equipment Imp & Exp. 1,069,869.30 991,556.64
Company
Shenzhen SDG Co., Ltd. 56,820,523.00 53,857,950.77
Shenzhen Longgang Tellus Real Estate Co., Ltd. 1,095,742.50 1,095,742.50
Shenzhen Tellus Yangchun Real Estate Co., Ltd. 476,217.49 476,217.49
Shenzhen Xinglong Machinery Mould Co., ltd. 78,515.56 78,515.56
Shenzhen New Yongtong Technology Co., Ltd. 320,000.00 320,000.00
Shenzhen Tellus Hang Investment Co., ltd. 11,561.48 3,637.92
Total 62,065,414.60 58,996,200.34
Long-term loans:
Shenzhen SDG Co., Ltd. 73,000,000.00 73,000,000.00
Total 73,000,000.00 73,000,000.00
IX. Contingency
1. Contingent liability and its financial influence formed by un-settle lawsuits or arbitration
(1)In October 2005, a lawsuit was brought before Shenzhen Luo Hu District People’s Court by the Company,
which was the recognizer of Jintian Industrial (Group) Co., Ltd. (―Jintian‖) to require Jintian to redress RMB
4,081,830 (principal: RMB 3,000,000, interest: RMB 1,051,380, legal fare: RMB 25,160 and executive fare:
RMB 5,290). Shenzhen Intermediate People’s Court had adjudged that the Company won the lawsuit and the
forcible execution had been applied by the Company. As for the deducted amount in previous years, the Company
has counted as debt losses. The lawsuit has not executed yet till the approval for the financial report disclosed.
In April 2006, Shenzhen Development Bank brought an accusation against Jintian’s overdue loan two million U.S. dollars and the
Company who guaranteed for this loan. The company took on the principal and all interest. After that, the Company appealed to
Shenzhen Luohu District People's Court, asking Jintian to repay 2,960,490 U.S. dollars and interest. In 2008, it reached Shen Luo
126
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
No.937 Civil Reconciliation Agreement (2008) after the mediating action taken by Shenzhen Luohu District People's Court. The
agreement is as follows: If Jintian repay 2,960,490 U.S. dollars before October 31, 2008, the company will exempt all the interest. If
Jintian can not settle the amount on time, it will pay the penalty in accordance with the People's Bank of China RMB benchmark
lending rate over the same period. The Company has not yet received the money from Jintian till the disclosure day.
(2) Subsidiary of the Company Shenzhen SD Tellus Real Estate Company (―Tellus Real Estate Company‖)
entered into the ―Contract of Liyehui Food Street Co-operation in Buji Town‖ with Shenzhen Jinlu Industrial &
Trading Company (―Jinlu Company‖) on 29 November 1994. In accordance with the Contract, on the foundation
of ―Cooperative Development Contract of Liyehui Food Street in Buji Town‖ signed between the Jinlu Company
and land providers -- Shenzhen Real Estate Management Branch Bureau of Guangzhou Military Region (―Real
Estate Management Branch Bureau‖) and People’s Liberation Army Unit 75731 (― Unit 75731‖), construction
funds 10 million Yuan invested by Tellus Real Estate, received fixed floor area of 6,000 M2 property, and Jinlu
Company promise to delivered the completed building and ancillary facility at the end of November 1995. Tellus
Real Estate Company have invested a total of 9,822,500.00 Yuan in cooperative development up to 31 December
1996, however, Tellus Real Estate Company failed to get the property should enjoy on the agreed date for property
hand over. Tellus Real Estate Company institute an action at law to the Court, requesting Jinlu Company pay back
the 9.8 million Yuan investment and interests immediately and shoulder all the Court Costs, Real Estate
Management Branch Bureau and Unit 75731 were sentence to be the defendant pursuant to the law in trial. On 18
March 2003, in line with the Written Judgment (2000) Shen Zhong Fa Fang Chu Zi No. 101 by Shenzhen
Intermediate People’s Court, the above mentioned ―Cooperative Contract‖ is valid, identified as nature of
cooperative housing, the two parties continue to perform the contract and legitimate mechanism should be follow
if any disputes arising from executing the Contract by parties in the Contract.
In March 2005, as a joint plaintiff, Tellus Real Estate Company and Jinlu Company start a suit to Real Estate
Management Branch Bureau and Unit 75731(Communication Equipment Repair Institute of Guangzhou Military
Region), requesting two defendants performing cooperative contract, and delivered 11,845 M2(approximately
11,851,357 Yuan in value) property of Liyehui Food Street to two plaintiff, moreover, pay for the rental income
5,034,664.94 Yuan in total due to two plaintiff since 1998. Meanwhile, Tellus Real Estate Company and Jinlu
Company entered into an agreement, that is, due to the self-executing or mandatory enforcement by the Court,
concerning the Liyehui Food Street property taken back in lawsuit, Tellus Real Estate Company received a fixed
property of 6,000 M2, rests of the property belongs to Jinlu Company and Tellus Real Estate Company owns all
127
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
property while less than 6,000 M2; the income deserved in the lawsuit should be allocated according to 5:5
ratio by two parties, and as for this lawsuit, which have its first trial in Shenzhen Intermediate People’s Court in
August 2010, because details of a case is complex, the case did not judge in court.
In 2011, Tellus Real Estate Company received a civil ruling paper (2005) Shen Zhong Fa Min Chu Zi No. 82 from
Shenzhen Intermediate People’s Court, that is, ―People’s Court has no right to judged how to allocate the building
and its working interest‖, because Liyehui Food Street property ―is part of the illegal building‖, reject the Tellus
Real Estate Company and Jinlu Company’s claim in aspect of the property delivery and rental allocation of
Liyehui Food Street. The cooperative development fund invested for Tellus Real Estate Company has been
provision for bad debts in total in previous year by the Company.
X. Events occurring after the balance sheet date
The Company has no major events occurring after the balance sheet date which should disclosed
XI. Other explanations on major event
1. Litigation judgment
On June 20, 2012, the Company received summons from Shenzhen Futian District People's Court, which was about loan contract
disputes between Ezhou Liantai Capital Ltd and China Construction Bank Shenzhen Bao’an branch (hereinafter referred to as "
Construction Bank ") regarding Shenzhen Guangming Industry Co. Ltd. (hereinafter referred to as the "Guangming Company"),
bringing a civil lawsuit to the subsidiary of the Company Auto Industrial and Trading Company.
Guangming Company is an associate company of Auto Industrial and Trading Company in 1990 by share of 10%.
This company took bank loans of RMB 2,000,000 with a period of 9 months on December 12, 1990. In October
1992Guangming Company has paid 100,000 Yuan. Shenzhen Bao’an District People's Court (1996) BAJZ No.
183 judged that Guangming Company should repay the loan of RMB 1,900,000 and interest to Construction Bank.
And Shenzhen Intermediate People's Court (1996) SZFJYZ No.563 made final judgment upheld the original.
Guangming Company never performed after the verdict, CCB asked for compulsory execution of return of
1,640,000 Yuan. Due to no property available for enforcement, the court of Bao’an District in May 20, 2003 (1997)
SBFZZ No. 220th ruled the termination of execution. In June 2004, the original creditor Construction Bank
transferred all the above creditor's rights to Asset Management Co. Transferred by several times, in 2008 April
Ezhou Liantai Capital Ltd raises its acquisition of the creditor's rights.
Shenzhen City Administration of industry and Commerce revoked Guangming Company’s business license on
February 28, 2002. Ezhou Liantai Capital Ltd in May 2012appealed Guangming Company and Auto Industrial
128
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
and Trading Company to Shenzhen Futian District People's Court, requesting Guangming Company to pay
3,607,000 Yuan and real interest accounted from May 11, 2012 to the date of liquidation. And it required Auto
Industrial and Trading Company to take joint liability for the debts "as its final shareholder because no liquidation
group is formed within the statutory time limit".
The Company received a paper of civil judgment-- (2012) Shen Fu Fa Min Er Chu Zi No. 4328 from Shenzhen Futian District
People’s Court in 2013. Automobile Industrial and Trade Company take joint responsibility of debt payment as the defendant
Guangming Company judged in paper of civil judgment -- (1996) Shen Zhong Fa Jing Yi Zhong Zi No. 563. The Company appeals
to the Court, and Shenzhen Intermediate People’s Court carried out a Civil Judgments (2013) Shen Zhong Fa Shang Zhong Zi No.
1677 on 12 December 2013 and affirm the original judgment as result. The payable joint liability 2.1302 million Yuan was accrual by
the Company. Shenzhen Auto Industry and Trade Corporation is work on the appeals recently, Guangdong Higher People’s Court has
accepted and filed the case.
2. Exchange of non-monetary assets
The Company has no event of non-monetary assets exchange that needs to disclose up to 30 June
2014
3. Debt restructuring
The Company has no debt restructuring that needs to disclose up to 30 June 2014
4. Business combination
The Company has no business combination that needs to disclose up to 30 June 2014
5. Leasing
The Company has no leasing that needs to disclose up to 30 June 2014
6. Outstanding financial instrument which can be converted to shares
The Company has no financial instrument that needs to disclose up to 30 June 2014
7. Assets and liability measured by fair value
Variation Accumulative Impairment
Item 2013-12-31 gains/losses variation of fair value accrual in 2014-6-30
from fair values reckoned into equity the year
Financial assets
129
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Financial assets available for sale 1,480,168.80 -88,348.00 1,026,219.55 -- 1,391,820.80
Total financial assets 1,480,168.80 -88,348.00 1,026,219.55 -- 1,391,820.80
8. Main content of pension plan and major changes
The Company has no pension plan that needs to disclose up to 30 June 2014
9. Discontinuing operation
The Company has no discontinuing operation that needs to disclose up to 30 June 2014
XII. Principle notes of financial statements of company
1. Accounts receivable
(1) Classified according to category of accounts receivable
2014-6-30
Type Book balance Bad debt reserves
Amount Ratio (%) Amount Ratio (%)
Account receivable with major single amount and provision for
-- -- -- --
bad debt reserve on a single basis
Account receivable with bad debt reserve provision on an age basis -- -- -- --
Account receivable with minor single amount but provision for bad
484,803.08 100.00 484,803.08 100.00
debt reserve on a single basis
Total 484,803.08 100.00 484,803.08 100.00
(Cont.)
2013-12-31
Type Book balance Bad debt reserves
Amount Ratio (%) Amount Ratio (%)
Account receivable with major single amount and provision for
-- -- -- --
bad debt reserve on a single basis
Account receivable with bad debt reserve provision on an age basis -- -- -- --
Account receivable with minor single amount but provision for bad
484,803.08 100.00 484,803.08 100.00
debt reserve on a single basis
Total 484,803.08 100.00 484,803.08 100.00
(2)Classified according to age of accounts receivable
Item 2014-6-30 2013-12-31
130
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Amount Ratio (%) Amount Ratio (%)
Within 1 year -- -- -- --
1-2 years -- -- -- --
2-3 year -- -- -- --
Over 3 years 484,803.08 100.00 484,803.08 100.00
Total 484,803.08 100.00 484,803.08 100.00
(3)Provision for bad debt reserves
Account receivable with minor single amount but provision for bad debt reserve on a single basis at period-end
Provision ratio Bad debt
Accounts receivable Book balance Provision reasons
(%) reserves
Shenzhen Bijiashan 172,000.00 172,000.00 Estimated uncollectible due to
100%
Entertainment Co., Ltd. long account age
SEG retail sales 97,806.64 97,806.64 Estimated uncollectible due to
100% long account age
Guangzhou Lemin Computer 86,940.00 86,940.00 Estimated uncollectible due to
Center 100% long account age
Other units 128,056.44 128,056.44 Estimated uncollectible due to
100% long account age
Total 484,803.08 100% 484,803.08
(4) Particular about switch
back or collected in the Year
No account receivable switch back or collected in the Period
(5) Major amount account receivable actually charge off in the Period
No account receivable
actually charge off in the Period
(6) Accounts receivable due from shareholders holding over 5% (including 5%) voting
shares in the Period.
No accounts receivable due from shareholders holding over 5% (including 5%) voting
shares in this report period.
131
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(7) Units with top five accounts receivable amount
Relationship with Percentage in accounts
Unit name Amount Age limit
the Company
receivable amount (%)
Shenzhen Bijiashan
Non-related parties 172,000.00 Over 3 years 35.48
Entertainment Co., Ltd.
SEG retail sales Non-related parties 97,806.64 Over 3 years 20.17
Guangzhou Lemin Computer 86,940.00
Non-related parties
Center Over 3 years 17.93
Lanzhou Dachuan Electronic 37,308.00
Non-related parties
Company Over 3 years 7.70
Sichuan Shentong Computer 28,764.00
Non-related parties
Company Over 3 years 5.93
Total 422,818.64 87.21
(8) Particular about account receivable from related parties
No account receivable from related parties in the Period
(9)Account receivable de-recognition in line with Accounting Standards for Enterprises No.
23—Transfer of Financial Assets
No account receivable de-recognition in the Period
(10) As for the asset securitization with object of account receivable, amount of assets and liabilities
formed by its continuous involvement
No assets securitization in the Period with object of account receivable
2. Other accounts receivable
(1) Classified according to category of other accounts receivable
2014-6-30
Type Book balance Bad debt reserves
Amount Ratio (%) Amount Ratio (%)
Other account receivable with major single amount and provision
12,279,240.54 9.45 12,279,240.54 100.00
for bad debt reserve on a single basis
Other account receivable with bad debt reserve provision on an age
116,328,991.05 89.52 1,392,395.35 1.20
basis
132
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
2014-6-30
Type Book balance Bad debt reserves
Amount Ratio (%) Amount Ratio (%)
Other account receivable with minor single amount but provision
1,340,896.89 1.03 1,340,896.89 100.00
for bad debt reserve on a single basis
Total 129,949,128.48 100.00 15,012,532.78 11.55
(Cont.)
2013-12-31
Type Book balance Bad debt reserves
Amount Ratio (%) Amount Ratio (%)
Other account receivable with major single amount and provision
for bad debt reserve on a single basis 12,279,240.54 23.92 12,279,240.54 100.00
Other account receivable with bad debt reserve provision on an age
basis 37,722,515.36 73.47 1,392,395.35 3.69
Other account receivable with minor single amount but provision
for bad debt reserve on a single basis 1,340,896.89 2.61 1,340,896.89 100.00
Total 51,342,652.79 100.00 15,012,532.78 29.24
(2)Classified according to age
2014-6-30 2013-12-31
Item
Amount Ratio (%) Amount Ratio (%)
Within 1 year 113,872,208.78 87.63 35,259,233.09 68.67
1-2 years 86,249.97 0.07 91,249.97 0.18
2-3 year 99,541.64 0.08 101,041.64 0.20
Over 3 years 15,891,128.09 12.23 15,891,128.09 30.95
Total 129,949,128.48 100.00 51,342,652.79 100.00
(3)Provision for bad debt reserves
①Other account receivable with major single amount and provision for bad debt reserve on a single basis
Carrying Provision for Ratio of
Content Reason
amount bad debts provision
Shenzhen Zhonghao (Group) Co., Ltd. Win a lawsuit, no executable
5,000,000.00 5,000,000.00
100.00% assets from adversary
133
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Carrying Provision for Ratio of
Content Reason
amount bad debts provision
Jinbeili Home Appliance Company Estimated uncollectible due to
2,706,983.51 2,706,983.51
100.00% long account age
Shenzhen Petroleum & Chemical
1,888,329.19 1,888,329.19 100.00% Unlikely to collected
(Group) Co., Ltd.
Huatong Package Co., Ltd. Estimated uncollectible due to
1,212,373.79 1,212,373.79
100.00% long account age
Shenzhen Xiandao Chemical New Estimated uncollectible due to
708,072.26 708,072.26
Material Co., Ltd. 100.00% long account age
Other 763,481.79 763,481.79 100.00% Unlikely to collected
Total 12,279,240.54 12,279,240.54 100.00%
②Other account receivable with bad debt reserve provision on an age basis
2014-6-30 2013-12-31
Age Book balance Provision for Book balance Provision for bad
Amount Ratio (%) bad debts Amount Ratio (%) debts
Within 1 year 113,872,208.78 97.89 -- 35,259,233.09 93.47 --
1-2 year 86,249.97 0.07 4,052.07 91,249.97 0.24 4,052.07
2-3 year 99,541.64 0.09 15,208.33 101,041.64 0.27 15,208.33
Over 3 years 2,270,990.66 1.95 1,373,134.95 2,270,990.66 6.02 1,373,134.95
Total 116,328,991.05 100.00 1,392,395.35 37,722,515.36 100.00 1,392,395.35
③Other account receivable with minor single amount but provision for bad debt reserve on a single basis at period-end
Provision ratio
Other accounts receivable Book balance bad debt reserves Reasons
(%)
Money used for purchasing Estimated uncollectible due to long
217,892.57 100.00% 217,892.57
house by staff account age
Other units Estimated uncollectible due to long
1,123,004.32 100.00% 1,123,004.32
account age
Total 1,340,896.89 1,340,896.89
(4) No major other account receivable actually charge off in the Period
134
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
(5) No other accounts receivable due from shareholders holding over 5% (including 5%) voting shares in the
Period.
(6) Units with top five other accounts receivable amount
Percentage in other
Relationship with
Unit name Amount Age limit accounts receivable
the Company
amount (%)
Shenzhen Zhonghao (Group) Co., Ltd. Non-related
5,000,000.00 Over 3 years 3.85
parties
Jinbeili Home Appliance Company Non-related
2,706,983.51 Over 3 years 2.08
parties
Shenzhen Petroleum & Chemical Other long-term
(Group) Co., Ltd. equity investment 1,888,329.19 Over 3 years 1.45
unit
Shenzhen Xinglong Machinery
Associates 1,995,961.34 1-5 years 1.54
Module Co., Ltd.
debt obligatory right of Huatong Non-related
1,212,373.79 Over 3 years 0.93
Machinery parties
Total 12,803,647.83 9.85
(7)Account receivable from related parties
Percentage in other
Unit name Relationship with the Company Amount
accounts receivable
1,995,961.34 amount (%) 1.54
Shenzhen Xinglong Machinery Module Associates
Co., Ltd. Xiandao Chemical New Material Associates(discontinued
708,072.26 0.54
Co., Ltd. operations)
9,483.57 0.01
Shenzhen Tellus GEM investment Co., Joint Venture
2,713,517.17 2.09
Ltd. Total
3. Long-term equity investment
(1) Classification of long-term equity investment
Item 2013-12-31 Increase in the period Decrease in the period 2014-6-30
Investment to subsidiary 263,839,543.61 -- -- 263,839,543.61
135
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Investment to Joint venture 68,597,879.95 258,881.43 -- 68,856,761.38
Investment to affiliated 84,163,508.49 6,482,504.95 -- 90,646,013.44
Other equity investment 28,084,779.52 -- -- 28,084,779.52
Less: impairment of Long-term
17,908,162.32 -- -- 17,908,162.32
equity investment
Total 426,777,549.25 6,741,386.38 -- 433,518,935.63
(2)Details of long-term equity investment
Calculating
Invested units Investment 2013-12-31 Changes 2014-6-30
methods
costs
Shenzhen SD Tellus Real Estate Co., Ltd Cost method 31,152,888.8 31,152,888.8 31,152,888.8
7 7 -- 7
Shenzhen SD Tellus Property Management Co., Ltd Cost method 5,021,970.88 5,021,970.88 -- 5,021,970.88
Shenzhen Tellus New Yongtong Automobile Development Cost method 57,672,885.2 57,672,885.2 57,672,885.2
Co. Ltd 2 2 -- 2
Shenzhen Zhongtian Industrial Co., Ltd. Cost method 10,708,622.9 10,708,622.9 10,708,622.9
0 0 -- 0
Shenzhen Automobile Industry Trading General Company Cost method 126,251,071. 126,251,071. 126,251,071.
57 57 -- 57
Shenzhen SD Huari Automobile Enterprise Co., Ltd Cost method 19,224,692.6 19,224,692.6 19,224,692.6
5 5 -- 5
Shenzhen Tellus Real Estate Exchange Co. Ltd Cost method 2,000,000.00 2,000,000.00 -- 2,000,000.00
Shenzhen Huari TOYOTA Automobile Sales Service Co., Cost method
Ltd. 1,807,411.52 1,807,411.52 -- 1,807,411.52
Shenzhen New Yongtong Automobile Inspection Equipment Cost method 10,000,000.0 10,000,000.0 10,000,000.0
Co. Ltd 0 0 -- 0
Shenzhen Tellus GEM investment Co., Ltd. Equity 61,852,480.0 59,672,265.9 59,673,262.9
method 0 2 997.01 3
Shenzhen Tellus Hang Investment Co., ltd. Equity 13,600,000.0
8,925,614.03
method 0 257,884.42 9,183,498.45
Shenzhen Xinglong Machinery Module Co., Ltd.*Note ① Equity 12,300,000.0 15,878,254.7 -- 15,878,254.7
136
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Calculating
Invested units Investment 2013-12-31 Changes 2014-6-30
methods
costs
method 0 4 4
Shenzhen Tellus Auto Service Chain Co., Ltd. Equity
method 800,000.00 -- -- --
Shenzhen Zung Fu Tellus Auto Service Co., Ltd. Equity 10,500,000.0 68,285,253.7 6,482,504. 74,767,758.7
method 0 5 95 0
Shenzhen Xiandao Chemical Industrial New Material Co., Cost method
Ltd. 7,256,401.38 4,751,621.62 -- 4,751,621.62
Hunan Changyang Industrial Co., Ltd. Cost method 6,900,000.00 1,810,540.70 -- 1,810,540.70
Shenzhen hanli Hi-Tech Ceramics Co., Ltd. Cost method 3,466,000.00 1,956,000.00 -- 1,956,000.00
Shenzhen Jiecheng Electronic Co., Ltd. Cost method 3,150,000.00 3,225,000.00 -- 3,225,000.00
China Pufa Machinery Industry Co., Ltd. Cost method 10,176,617.2 10,176,617.2 10,176,617.2
0 0 -- 0
Shenzhen Jingwei Industrial Co., Ltd. Cost method 4,000,000.00 4,000,000.00 -- 4,000,000.00
Shenzhen (Masco) Co., Ltd. Cost method 825,000.00 825,000.00 -- 825,000.00
Wuhan Weite Hotel Cost method 640,000.00 640,000.00 -- 640,000.00
Shenzhen Petroleum & Chemical (Group) Co., Ltd. Cost method 700,000.00 700,000.00 -- 700,000.00
400,006,042. 444,685,711. 6,741,386. 451,427,097.
Total
19 57 38 95
(Cont.)
Description
of Counting
Share inconformit and
Vote Cash
holding y of share drawing
percentag dividend
percentag holding Provision impairme
Invested units e in s at the
e in percentage reserve nt reserves
invested current
invested and vote at the
units (%) period
units (%) percentage current
in invested period
units
Shenzhen SD Tellus Real Estate Co., Ltd 100 100 -- -- --
137
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Description
of Counting
Share inconformit and
Vote Cash
holding y of share drawing
percentag dividend
percentag holding Provision impairme
Invested units e in s at the
e in percentage reserve nt reserves
invested current
invested and vote at the
units (%) period
units (%) percentage current
in invested period
units
Shenzhen SD Tellus Property Management Co., Ltd 100 100 -- -- --
Shenzhen Tellus New Yongtong Automobile Development 100 100 -- --
--
Co. Ltd
Shenzhen Zhongtian Industrial Co., Ltd. 100 100 -- -- --
Shenzhen Automobile Industry Trading General Company 100 100 -- -- --
Shenzhen SD Huari Automobile Enterprise Co., Ltd 60 60 -- -- --
Shenzhen Tellus Real Estate Exchange Co. Ltd 100 100 -- -- --
Shenzhen Huari TOYOTA Automobile Sales Service Co., Ltd. 60 60 -- -- --
Shenzhen New Yongtong Automobile Inspection Equipment
51 51 -- -- --
Co. Ltd
Shenzhen Tellus GEM investment Co., Ltd. 50 50 -- -- --
Shenzhen Tellus Hang Investment Co., ltd. 50 50 -- -- --
Shenzhen Xinglong Machinery Module Co., Ltd. 30 30 -- -- --
Shenzhen Tellus Auto Service Chain Co., Ltd. 40 40 -- -- --
Shenzhen Zung Fu Tellus Auto Service Co., Ltd. 35 35 -- -- --
Shenzhen Xiandao Chemical Industrial New Material Co., Ltd. 40 40 4,751,621.62 -- --
Hunan Changyang Industrial Co., Ltd. 36.55 36.55 1,810,540.70 -- --
Shenzhen hanli Hi-Tech Ceramics Co., Ltd. 80 80 1,956,000.00 -- --
Shenzhen Jiecheng Electronic Co., Ltd. 45 45 3,225,000.00 -- --
China Pufa Machinery Industry Co., Ltd. 5.30 5.30 -- -- --
Shenzhen Jingwei Industrial Co., Ltd. 12.50 12.50 4,000,000.00 -- --
Shenzhen (Masco) Co., Ltd. 7 7 825,000.00 -- --
Wuhan Weite Hotel 640,000.00 -- --
138
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Description
of Counting
Share inconformit and
Vote Cash
holding y of share drawing
percentag dividend
percentag holding Provision impairme
Invested units e in s at the
e in percentage reserve nt reserves
invested current
invested and vote at the
units (%) period
units (%) percentage current
in invested period
units
Shenzhen Petroleum & Chemical (Group) Co., Ltd. 100000 100000 700,000.00 --
--
shares shares
17,908,162.3
--
Total 2 --
(3) The long-term equity investment of the Company has no restriction in capital transfer to investment enterprise
(4)Details of impairment of long-term equity investment
Increase in the Decrease in the
Item 2013-12-31 2014-6-30
period period
Other long-term equity investment
Shenzhen Xiandao Chemical Industrial New 4,751,621.62 4,751,621.62
-- --
Material Co., Ltd.
Hunan Changyang Industrial Co., Ltd. 1,810,540.70 -- -- 1,810,540.70
Shenzhen hanli Hi-Tech Ceramics Co., Ltd. 1,956,000.00 -- -- 1,956,000.00
Shenzhen Jiecheng Electronic Co., Ltd. 3,225,000.00 -- -- 3,225,000.00
Shenzhen Jingwei Industrial Co., Ltd. 4,000,000.00 -- -- 4,000,000.00
Shenzhen (Masco) Co., Ltd. 825,000.00 -- -- 825,000.00
Wuhan Weite Hotel 640,000.00 -- -- 640,000.00
Shenzhen Petroleum & Chemical (Group) Co., 700,000.00 700,000.00
-- --
Ltd.
Total 17,908,162.32 -- -- 17,908,162.32
4. Operating income and cost
(1) Operating income and cost
Item Jan.- Jun. 2014 Jan.- Jun. 2013
139
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Main operating income 9,684,900.12 8,845,953.02
Other operating income -- --
Total operating income 9,684,900.12 8,845,953.02
Main operating cost 1,820,193.72 1,891,907.91
Other operating cost -- --
Total operating cost 1,820,193.72 1,891,907.91
(2) Primary business (By industries)
Jan.- Jun. 2014 Jan.- Jun. 2013
industries
Operating income Operating cost Operating income Operating cost
Leasing services 9,684,900.12 1,820,193.72 8,845,953.02 1,891,907.91
Total 9,684,900.12 1,820,193.72 8,845,953.02 1,891,907.91
(3) Primary business (By districts)
Jan.- Jun. 2014 Jan.- Jun. 2013
Districts
Operating income Operating cost Operating income Operating cost
Shenzhen 9,684,900.12 1,820,193.72 8,845,953.02 1,891,907.91
Total 9,684,900.12 1,820,193.72 8,845,953.02 1,891,907.91
(5) The operating income of the top five customers of the Company
Customer name Business income The percentage in all operating income
of the Company (%)
Shenzhen Zung Fu Tellus Co., Ltd. 2,575,000.02 26.59
Shenzhen Xingguangda Jewelry Industrial Co.,
1,257,306.00 12.98
Ltd
BAITAI JEWELRY 416,289.00 4.30
Xiang Xia 368,600.00 3.81
YIDALONG JEWELRY 331,176.00 3.42
4,948,371.02 51.09
Total
140
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
5. Investment income
(1) Particulars about investment income
Name of invested unit Jan.- Jun. 2014 Jan.- Jun. 2013
Income of long-term equity investment calculated based on cost -- --
Income of long-term equity investment calculated based on equity 6,741,386.38 1,231,657.10
Investment income obtained during holding available-for-sale
-- 72,938.25
financial assets
Total 6,741,386.38 1,304,595.35
Note: the repatriation of investment gains of the Group has no major restriction.
(2) Income of long-term equity investment calculated based on equity
Name of invested unit Jan.- Jun. 2014 Jan.- Jun. 2013 Reasons for changes
Shenzhen Tellus Auto Service Chain Co., Ltd. -- --
Shenzhen Xinglong Machinery Module Co.,
-- --
Ltd.
Shenzhen Zung Fu Tellus Auto Service Co., Profit of the invested unit
6,482,504.95 951,521.96
Ltd. increased
Shenzhen Tellus GEM investment Co., Ltd. 997.01 199,850.66
Shenzhen Tellus Hang Investment Co., ltd. 257,884.42 80,284.48
Total 6,741,386.38 1,231,657.10
6. Supplementary information to statement of cash flow
Item Current Year Last Year
(1) Net profit adjusted to cash flow of operation activities:
Net profit 2,882,919.06 -4,034,586.49
Add: Provision of assets impairment -- --
Depreciation of fixed assets, consumption of oil assets and depreciation
of productive biology assets 1,971,186.86 2,013,868.02
Amortization of intangible assets 22,062.32 23,749.98
Amortization of long-term deferred expenses 20,682.96 20,682.96
Loss from disposal of fixed assets, intangible assets and other long-term -28,512.68 --
141
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Current Year Last Year
assets(gain is listed with ―-‖)
Loss of disposing fixed assets(gain is listed with ―-‖) -- --
Loss from change of fair value(gain is listed with ―-‖) -- --
Financial expenses (gain is listed with ―-‖) 4,860,266.04 4,677,170.76
Investment loss (gain is listed with ―-‖) -6,741,386.38 -1,304,595.35
Decrease of deferred income tax asset( (increase is listed with ―-‖) 19,471.10 --
Increase of deferred income tax liability (decrease is listed with ―-‖) -- --
Decrease of inventory (increase is listed with ―-‖) -- --
Decrease of operating receivable accounts (increase is listed with ―-‖) -78,673,525.69 13,497,064.50
Increase of operating payable accounts (decrease is listed with ―-‖) 5,966,850.74 17,795,954.74
Others -- --
Net cash flow arising from operating activities -69,699,985.67 32,689,309.12
(2) Major investment and financing activity without cash payment
-- --
and receipts
Conversion of debt into capital -- --
Convertible bonds due within one year -- --
Fixed assets financed by leasing -- --
(3) Net change of cash and cash equivalent: -- --
Closing cash balance 12,570,634.30 18,946,052.71
Less: opening cash balance 30,209,143.04 1,614,187.49
Add: closing balance of cash equivalent -- --
Less: opening balance of cash equivalent -- --
Net increase of cash and cash equivalent -17,638,508.74 17,331,865.22
XIII. Supplementary Information
1. Details of non-recurring gains and losses
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Gains/losses from disposal of non-current asset *Note① 172,812.80 7,247,156.82
142
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Tax refund or mitigate due to examination-and-approval beyond power or without
-- --
official approval document or accident
Government subsidies included in current gains and loss (excluding those closely in
accordance with corporation business and enjoyed according to fixed amount under -- --
national united standard)
Capital occupancy expense, collected from non-financial enterprises and recorded in
-- --
current gains and losses
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
Gains and losses from exchange of non-monetary assets -- --
Gains and losses from assets under trusted investment or management -- --
Various provision for impairment of assets withdrew due to act of God, such as natural
-- --
disaster
Gains and losses from debt restructuring -- --
Enterprise reorganization expense, such as expenses from staffing and integrated cost
-- --
etc.
Gains and losses of the part arising from transaction in which price is not fair and
-- --
exceeding fair value
Current net gains and losses occurred from period-begin to combination day by
-- --
subsidiaries resulting from business combination under common control
Gains and losses arising from contingent proceedings irrelevant to normal operation of
-- --
the Company
Except for effective hedge business relevant to normal operation of the Company, gains
and losses arising from fair value change of tradable financial assets and tradable
-- --
financial liabilities, and investment income from disposal of tradable financial assets,
tradable financial liabilities and financial assets available for sale
Switch-back of provision of impairment of account receivable which are treated with
-- --
separate depreciation test
Gains and losses obtained from external trusted loans -- --
143
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Item Jan.- Jun. 2014 Jan.- Jun. 2013
Gains and losses arising from change of fair value of investment real estate whose
-- --
follow-up measurement are conducted according to fair value pattern
Affect on current gains and losses after an one-time adjustment according to requirements
-- --
of laws and regulations regarding to taxation and accounting
Trust fee obtained from trust operation -- --
Other non-operating income and expenditure except for the aforementioned ones 49,806.10 -2,417.07
Other gains and losses items complying with definition for non-current gains and losses -- --
Subtotal 222,618.90 7,244,739.75
Affect on income tax -- --
Affect on minority equity(after tax)
-57,438.11 -84,531.13
Total 165,180.79 7,160,208.62
Note: as for the numbers of non-recurring gains/losses, ―+‖ stands for income or earnings,‖-―stands for losses or expenses
Recognition of the non-recurring gains/losses was executed in line with the Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Extraordinary Profit/loss (Zheng Jian Hui Gong Gao [2008] No.: 43).
*note ①Including the investment real estate sold (9 sets apartment of 8/F, Dongfeng Building) by Automobile Industry and Trade
Company (subsidiary of the Company), disposal income was 7,045,930.99 Yuan.
2. REO and earnings per share
Earnings per share (RMB/Share)
Profits during report period Weighted average ROE
Basic EPS Diluted EPS
Net profits belong to common
stock stockholders of the 2.77 0.0244 0.0244
Company
Net profits belong to common
stock stockholders of the
2.69 0.0237 0.0237
Company after deducting
nonrecurring gains and losses
3. Abnormalities and reasons of the accounting statement items of the Company
Item 2014-6-30 2013-12-31 Change amount Change ratio Note
Assets:
Inventory decreased due
Inventory 43,766,660.19 62,826,365.70 -19,059,705.51 -30.34% to the sales expansion
from subsidiary Huari
144
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
TOYOTA
More costs for project of
Construction in
85,849,620.32 41,642,020.40 44,207,599.92 106.16% Shuibei Jewelry
process
Building
Land value of Shuibei
Intangible assets 52,873,743.56 33,255.04 52,840,488.52 158894.68% Jewelry Building
transferred-in
The 50% land value of
Shuibei Jewelry
Other non-current
-- 26,339,112.00 -26,339,112.00 -100.00% Building paid originally
assets
transferred-in as
intangible assets
Liability and owners
equity:
Short-term loans 182,741,296.00 110,969,952.93 71,771,343.07 64.68% Bank loans increased
Bank acceptance paid by
Note payable 6,225,651.90 15,920,748.09 -9,695,096.19 -60.90% subsidiary Huari
TOYOTA
Enterprise income taxes
Taxes payable 9,175,574.79 16,687,262.22 -7,511,687.43 -45.01%
paid
Automobile Sales of
Advance payment 2,228,640.04 22,087,866.51 -19,859,226.47 -89.91%
Huari TOYOTA
Item Jan.- Jun. 2014 Jan.- Jun. 2013 Change amount Change ratio Note
Profit statement:
Loss from asset Bad debt provision
35,599.18 100,000.00 -64,400.83 -64.4%
devaluation decrease
Associates enterprise--
Shenzhen Zung Fu
Investment earnings 7,841,475.98 1,780,082.57 6,061,393.41 340.51% Tellus Auto Service Co.,
Ltd gains more profit in
the Period
There was losses from
Non-operating
2,633.01 23,753.00 -21,119.99 -88.92% disposal of fixed assets
expenditure
over a year earlier, and
145
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
no such item occurred in
the Period
More income tax paid in
Income tax expense 701,033.07 195,375.12 505,657.95 258.81%
the Period
Cash flow
statement:
Auto funds paid by
Net cash flow arising
subsidiary Huari
from operating -4,185,311.96 36,298,462.37 -40,483,774.33 -111.53%
TOYOTA increased
activities
y-o-y
There was cash received
over a year earlier from
Subtotal of cash
disposal of investment
in-flow arising from 40,740.00 32,414,709.28 -32,373,969.28 -99.87%
real estate, and no such
investment activities
item occurred in the
Period
Subtotal of cash Engineering funds paid
out-flow arising from 70,244,698.22 19,470,300.15 50,774,398.07 260.78% for Shuibei Jewelry
investment activities Building increased
Subtotal of cash Borrowings from parent
in-flow arising from 226,000,000.00 41,600,000.00 184,400,000.00 443.27% company and the Bank
financing activities increased in the Period
The loans due for
Subtotal of cash
repayment to parent
out-flow arising from 158,916,300.92 65,747,599.58 93,168,701.34 141.71%
company and the Bank
financing activities
increased in the Period
146
深圳市特力(集团)股份有限公司 2014 年半年度报告全文
Section X. Documents available for reference
1. Text of semi-annual report with signature of the Chairman;
2. Financial statement of the Company with signature and seal from the legal representative, person in charge of finance and person
in charge of accounting;
3. Original text of all documents of the Company as well as manuscript of the announcement that disclosed on website appointed by
CSRC.
147
