SHENZHEN TELLUS HOLDING CO., LTD.
Semi-Annual Report 2022
August 2022
Section I. Important Notice, Contents and Interpretation
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.
Fu Chunlong, Principal of the Company, Lou Hong, person in charge of
accounting works and Lou Hong, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of Semi-Annual
Report 2022 is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
The possible risks faced by the Company have been well-described in the Report,
investors are advised to pay attention to them. Be sure to note that in “X. Risks of
the Company and countermeasures” contained in Section III Management
Discussion and Analysis.
The Company plans not to pay cash dividends, not to issue bonus and not to
increase the share capital from accumulation funds.
-1-
Contents
Section I Important Notice,Contents and Interpretation ................................................ - 1 -
Section II Company Profile and Main Financial Indexes................................................- 5 -
Section III Management Discussion and Analysis ..........................................................- 9 -
Section IV Corporate Governance........................................................................................-19 -
Section V Enviornmental and Social Responsibility...................................................... - 21 -
Section VI Important Event .................................................................................................- 22 -
Section VII Changes in Shares and Particular about Shareholders.............................- 35 -
Section VIII Preferred Stock ...............................................................................................- 40 -
Section IX Corporate Bonds................................................................................................. - 41 -
Section X Financial Report ................................................................................................. - 42 -
-1-
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Documents Available for Reference
1. The Accounting Statement containing the signature and seals of the legal representative, the person in charge of
the accounting works and person in charger of the accounting organization.
2. Original copies of all documents and announcements that have been released publicly during the reporting
period.
3.The above documents are available at: office of the Board Secretariat
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Interpretation
Items Refers to Contents
CSRC Refers to China Securities Regulatory Commission
SZE Refers to Shenzhen Stock Exchange
China Securities Depository and
Shenzhen Branch of CSDC Refers to Clearing Corporation Limited-Shenzhen
Branch
Company, the Company, our Company,
Refers to Shenzhen Tellus Holding Co., Ltd.
Tellus Group
Reporting period, this reporting period Refers to January to June of 2022
Shenzhen Auto Industry and Trade
Auto Industry and Trade Company Refers to
Corporation
Zhongtian Company Refers to Shenzhen Zhongtian Industrial Co,. Ltd.
Gems & Jewelry Trade Association of
GAC Refers to
China
Shenzhen SDG Huari Auto Enterprise
Huari Company, SDG Huari Refers to
Co., Ltd.
Shenzhen Huari Toyota Auto Sales Co.,
Huari Toyota Refers to
Ltd
Shenzhen Zung Fu Tellus Auto Service
Zung Fu Tellus Refers to
Co., Ltd.
Shenzhen SDG Tellus Property
Tellus Property Refers to
Management Co., Ltd.
Special Development, SDG, Controlling Shenzhen Special Development Group
Refers to
Shareholder Co., Ltd.
Shenzhen Tellus Treasury Supply Chain
Treasury Supply Chain Company Refers to
Tech. Co., Ltd.
Shenzhen Jewelry Industry Service Co.,
Shenzhen Jewelry Company Refers to
LTD
Shanghai Fanyue Refers to Shanghai Fanyue Diamond Co., Ltd.
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Section II Company Profile and Main Financial Indexes
I. Company profile
Short form of the stock Tellus-A, Tellus-B Stock code 000025, 200025
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
深圳市特力(集团)股份有限公司
Chinese)
Short form of the Company
特力 A
(in Chinese)
Foreign name of the
Shenzhen Tellus Holding Co., Ltd
Company (if applicable)
Legal representative Fu Chunlong
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Qi Peng Liu Menglei
3/F, Tellus Building, Shui Bei Er Road, 3/F, Tellus Building, Shui Bei Er Road,
Contact add.
Luohu District, Shenzhen Luohu District, Shenzhen
Tel. (0755)83989390 (0755)88394183
Fax. (0755)83989386 (0755)83989386
E-mail ir@tellus.cn liuml@tellus.cn
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
The registrations address, offices address and codes as well as website and email of the Company have no change in reporting period,
found more details in Annual Report 2021.
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 place
for semi-annual report have no change in reporting period, found more details in Annual Report 2021
3. Other relevant information
Whether other relevant information has changed during the reporting period
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
□ Applicable √ Not applicable
IV. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□ Yes √ No
Changes in the current period
compared with the same
Current period Same period of last year
period of the previous year
(+,-)
Operating revenue (Yuan) 250,015,152.23 249,492,261.24 0.21%
Net profit attributable to
shareholders of the listed 43,480,236.19 44,542,715.32 -2.39%
Company(Yuan)
Net profit attributable to
shareholders of the listed
Company after deducting non- 31,023,156.36 41,590,592.47 -25.41%
recurring gains and
losses(Yuan)
Net cash flow arising from
-11,318,295.41 59,571,399.02 -119.00%
operating activities(Yuan)
Basic earnings per share
0.1009 0.1033 -2.32%
(RMB/Share)
Diluted earnings per share
0.1009 0.1033 -2.32%
(RMB/Share)
Weighted average ROE 3.00% 3.34% -0.34%
Changes at the end of the
Current Period-end Period-end of last year current period compared with
the end of the previous year
Total assets (Yuan) 1,901,811,890.21 1,859,645,205.43 2.27%
Net assets attributable to
shareholder of listed 1,465,622,963.89 1,432,924,273.45 2.28%
Company (Yuan)
V. 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
The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International Accounting
Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period.
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
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 had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or
Chinese GAAP (Generally Accepted Accounting Principles) in the period.
VI. Items and amounts of extraordinary profit (gains)/loss
√Applicable □ Not applicable
Unit: RMB/CNY
Item Amount Note
Governmental subsidy calculated into
current gains and losses(while closely
related with the normal business of the
Company, the government subsidy that
1,575,990.30 The government subsidy
accord with the provision of national
policies and are continuously enjoyed in
line with a certain standard quota or
quantity are excluded)
Gains/losses of fair value changes arising
from holding of the trading financial
asset, trading financial liability and
investment earnings obtained from
disposing the trading financial asset, 6,157,679.97 Financial income
trading financial liability, and financial
assets available for sale, except for the
effective hedging business related to
normal operation of the Company
Other non-operating income and The leasing deposit transferred to non-
expenditure except for the 295,569.76 operating income upon early surrender of
aforementioned items lease by the tenant
Gain/loss on transfer of equity 8,785,410.47
Less: Impact on income tax 4,124,792.46
Impact on minority shareholders’
232,778.21
equity (post-tax)
Total 12,457,079.83
Details of other gains/losses items that meets the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain 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
□ Applicable √ Not applicable
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
There are no 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 2022 年半年度报告全文
Section III Management Discussion and Analysis
I. Main businesses of the Company during the reporting period
The main business of the Company during the reporting period was jewelry service business; commercial
operation management; sales, testing and maintenance of motor vehicle and accessories sales.
Jewelry service business: At present, the integration of all subdivisions of the jewelry service business has achieved
initial results, and the overall solution integrating the service contents of all subdivisions has gradually gained
market recognition. In the first half of 2022, the company invested in the establishment of a gold circulation platform,
which aims to break through the bottleneck of domestic gold circulation, solve the pain points of the gold circulation
industry, standardize the industry service standards, and further improve the company's layout in the gold jewelry
industry.
Commercial operation management: In 2022, the effect of Tellus Gman Gold Jewelry Industrial Park on the Shuibei
jewelry industry continues to expand, especially that the headquarters of leading enterprises in the jewelry industry
continue to gather in the park, the occupancy rate and rental price level of the park have an advantage over those
around the park. As the largest owner of the park, the company continuously improves the operation system,
enhances service quality, and seizes opportunities to actively expand customers. As the last Grade A office building
of the company, Tellus Jinzuan Trading Building has achieved good results in preparatory investments attraction
despite the double strike of the pandemic and the poor prosperity of the jewelry industry.
Automobile sales, testing, maintenance and parts sales: The company's automobile business is mainly operating
FAW Toyota 4S stores. Affected by the repeated and sporadic pandemics in Shenzhen, the impact of new energy
vehicles, and the late introduction of the regional subsidy policy for stores, the new car sales volume decreased
slightly on a year-on-year basis.
II. Core Competitiveness Analysis
1.Solidly promoted the third-party ecosystem construction of the jewelry, which rapidly improved the company's
popularity and influence in the jewelry industry.
Relying on the physical platform resources in the Shuibei area, where the jewelry industry gathers, the company
gives full play to the credit advantages of a state-owned listed company, constantly tries to innovate business models,
steadily promotes the implementation of transformation projects, deeply penetrates into the jewelry industry chain,
and enables the third-party business of jewelry to achieve leapfrog development. In 2019, Shenzhen Tellus Treasury
Supply Chain Tech. Co., Ltd. was established to carry out jewelry supply chain business, which consolidated the
third-party service foundation for jewelry. Established Shenzhen Jewelry Industry Service Co., Ltd in 2020 to
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
provide services such as bonded exhibition, bonded warehousing, testing,customs declaration, logistics, and
settlement, which shall be built into a comprehensive element trading service platform with international influence
integrating jewelry raw materials and finished products exhibition, spot trading, identification, design, processing,
e-commerce, financial services, insurance and so on. The successful operation of Shen Jewelry has been highly
recognized by the municipal and district governments and the customs in Shenzhen, which has enhanced the
company's position in the jewelry industry chain. In 2021, the company established Shanghai Fanyue, and realized
a closed loop of diamonds from the bonded display transactions to the general trade import. In the first half of 2022,
the company invested in the establishment of a gold circulation platform - Guorun Gold (Shenzhen) Co., Ltd., which
further improved its layout in the gold jewelry industry. With the solid advancement of the strategic transformation,
the company's ability and level to provide third-party jewelry services has been continuously improved, and the
brand influence in the national jewelry industry chain has been significantly enhanced, becoming the company's
core competitiveness.
2. Possess abundant property resources and provide stable business income and financial support
The Company is the largest owner of the Tellus Gman Gold Jewelry Industrial Park in the Shuibei area, Tellus
Jewelry Building has been fully put into use, and the construction project of the Tellus Jinzuan Trading Building is
progressing as planned. At the same time, the company will construct an innovative industrial projects in Buxin area
that conform to the overall strategic layout of the city, district and the Company through renovation. In addition, the
Company has a large number of property resources in Luohu and Futian district of Shenzhen, on the basis of
maintaining the stability of the original leasing business, the company actively promotes the improvement of
property quality and transform its old properties from the traditional method of simple leasing to the direction of
property asset operation, so as to fully enhance and tap the added value of the property brand, bring stable business
income and cash flow to the company, and provide a solid foundation for the company's long-term development.
IV. Main business analysis
Overview
See the “I-Main businesses of the Company during the reporting period”
Change of main financial data on a y-o-y basis
Unit: RMB/CNY
Same period of last
Current period y-o-y changes (+,-) Reasons
year
Operating revenue 250,015,152.23 249,492,261.24 0.21%
Operation costs 188,344,177.55 173,313,253.96 8.67%
Sales expense 10,947,318.15 12,002,312.02 -8.79%
Management expense 19,832,917.21 20,807,474.69 -4.68%
Decrease in interest
Financial expense -2,701,556.39 -404,559.89 -567.78% costs, there was an bond
interest from equity
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
performance occurred
in the same period of
previous year
Decrease in operation
Income tax expense 10,808,747.89 11,085,413.51 -2.50%
profit
1.Rent reduction during
the epidemic; 2.final
settlement on income
Net cash flow arising
tax increased on a y-o-y
from operating -11,318,295.41 59,571,399.02 -119.00%
basis; 3. purchase
activities
payment from gold
supply chain increased
on a y-o-y basis
Net cash flow arising Investment in Tellus
from investment -29,463,885.19 69,492,791.58 -142.40% Jinzuan Trading
activities Building
Net cash flow arising
Loans of Tellus Jinzuan
from financing 18,016,923.17 20,549,625.24 -12.32%
Trading Building
activities
Mainly due to the
Net increase of cash investment in Tellus
-22,764,976.83 149,597,036.39 -115.22%
and cash equivalent Jinzuan Trading
Building
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
Constitution of operating revenue
Unit: RMB/CNY
Current period Same period last year y-o-y changes (+,-)
Ratio in operation Ratio in operation
Amount Amount
revenue revenue
Total operation
250,015,152.23 100% 249,492,261.24 100% 0.21%
revenue
According to industries
Auto sales 90,748,050.16 36.30% 95,643,935.09 38.34% -5.12%
Auto inspection
and maintenance
21,877,337.87 8.75% 23,157,150.81 9.28% -5.53%
and accessories
sales
Property rental and
89,143,718.75 35.66% 99,013,183.37 39.69% -9.97%
service
Jewelry wholesale
48,246,045.45 19.30% 31,677,991.97 12.70% 52.30%
and retails
According to products
Auto sales 90,748,050.16 36.30% 95,643,935.09 38.34% -5.12%
Auto inspection 21,877,337.87 8.75% 23,157,150.81 9.28% -5.53%
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
and maintenance
and accessories
sales
Property rental and
89,143,718.75 35.66% 99,013,183.37 39.69% -9.97%
service
Jewelry wholesale
48,246,045.45 19.30% 31,677,991.97 12.70% 52.30%
and retails
According to region
Shenzhen 250,015,152.23 100.00% 249,492,261.24 100.00% 0.21%
The industries, products or regions accounting for over 10% of the Company’s operating revenue or operating
profit
√Applicable □ Not applicable
Unit: RMB/CNY
Increase/decrea
Gross Increase/decrea Increase/decrea
se of gross
Operating revenue Operating cost profit se of operating se of operating
profit ratio y-o-
ratio revenue y-o-y cost y-o-y
y
According to industries
Auto sales 90,748,050.16 89,009,452.61 1.92% -5.12% -5.56% 0.46%
Auto inspection
and
maintenance 21,877,337.87 17,913,429.37 18.12% -5.53% 5.79% -8.76%
and accessories
sales
Property rental
89,143,718.75 29,683,060.13 66.70% -9.97% -0.84% -3.06%
and service
Jewelry
wholesale and 48,246,045.45 51,738,235.44 -7.24% 52.30% 60.71% -5.61%
retails
According to products
Auto sales 90,748,050.16 89,009,452.61 1.92% -5.12% -5.56% 0.46%
Auto inspection
and
maintenance 21,877,337.87 17,913,429.37 18.12% -5.53% 5.79% -8.76%
and accessories
sales
Property rental
89,143,718.75 29,683,060.13 66.70% -9.97% -0.84% -3.06%
and service
Jewelry
wholesale and 48,246,045.45 51,738,235.44 -7.24% 52.30% 60.71% -5.61%
retails
According to region
Shenzhen 250,015,152.23 188,344,177.55 24.67% 0.21% 8.67% -5.87%
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted main business based on
latest one year’s scope of period-end
□ Applicable √ Not applicable
Reasons for y-o-y relevant data with over 30% changes
□ Applicable √ Not applicable
IV. Analysis of non-main business
√Applicable □ Not applicable
Unit: RMB/CNY
Whether be sustainable
Amount Ratio in total profit Note
(Y/N)
Investment income
from shareholding
Investment income 23,487,946.52 43.57% Y
enterprises and
financing income
Redeem the unmatured
Gain/loss of fair value wealth management
-617,068.50 -1.14% Y
changes income at the end of
2021
The leasing deposit
transferred to non-
Non-operation revenue 295,807.48 0.55% operating income upon N
early surrender of lease
by the tenant
Non-operation Disposal of the fixed
237.72 N
expenditure assets
V. Analysis of assets and liability
1. Major changes of assets composition
Unit: RMB/CNY
Current Period-end Year-end of last year Ratio Notes of
Ratio in total Ratio in total changes major
Amount Amount
assets assets (+,-) changes
Monetary fund 219,732,744.23 11.55% 240,582,057.16 12.94% -1.39%
Account
55,148,362.83 2.90% 18,094,059.92 0.97% 1.93%
receivable
Contract assets 0.00
Inventory 27,425,910.86 1.44% 25,434,925.04 1.37% 0.07%
Investment real
541,520,365.78 28.47% 551,383,294.54 29.65% -1.18%
estate
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Long-term
equity 81,238,655.05 4.27% 88,310,867.47 4.75% -0.48%
investment
Fix assets 112,837,946.28 5.93% 109,438,198.23 5.88% 0.05%
Construction in
261,124,333.54 13.73% 210,197,546.72 11.30% 2.43%
process
Right-of-use
6,513,372.33 0.34% 7,336,915.83 0.39% -0.05%
assets
Short-term
0.00
loans
Contract
10,168,590.39 0.53% 21,059,311.18 1.13% -0.60%
liability
Long-term
121,670,407.44 6.40% 86,875,874.39 4.67% 1.73%
loans
Lease liability 3,963,266.13 0.21% 4,474,543.09 0.24% -0.03%
Trading
422,095,775.34 22.19% 412,712,843.84 22.19% 0.00%
financial assets
Other account
115,063,036.77 6.05% 112,617,963.65 6.06% -0.01%
payable
2. Main foreign assets
□Applicable √Not applicable
3. Assets and liability measured by fair value
√ Applicable □Not applicable
Unit: RMB/CNY
Changes of Accumulati
Impairme
fair value ve changes Amount of Amount of Other
Opening nt accrual Ending
Items gains/losses of fair value purchase in sale in the change
amount in the amount
in this reckoned the period period s
Period
period into equity
Financial
assets
1.Trading
financial
assets
412,712,84 692,000,000.0 682,000,000 422,095,77
(excluding -617,068.50
3.84 0 .00 5.34
derivative
financial
assets)
2. Other
equity 10,176,617. 10,176,617.
instruments 20 20
Investment
422,889,46 692,000,000.0 682,000,000 432,272,39
Above total -617,068.50
1.04 0 .00 2.54
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Financial
0.00 0.00
liabilities
Whether there have major changes on measurement attributes for main assets of the Company in report period or not
□ Yes √No
4. Right of the assets restrained till end of the Period
As of 30 June 2022,the Company’s right to use of monetary funds under restrictions is 27,188,802.59 Yuan, which is the supervision
fund paid by the Company to Luohu District Urban Renewal Bureau of Shenzhen for the land plot 03 project of the upgrading project
of Tellus-Gman Gold Jewelry Industrial Park. The monetary funds with restricted use rights at the end of last year were 26,926,471.3
Yuan.
VI. Investment analysis
1. Overall situation
√Applicable □Not applicable
Investment amount at same period of last
Investment amount in the period (Yuan) Changes (+,-)
year (Yuan)
50,926,786.82 34,159,982.94 49.08%
2. The major equity investment obtained in the reporting period
□Applicable √ Not applicable
3. The major on-going non-equity investment in the reporting period
□ Applicable √ Not applicable
4. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The Company has no securities investment during the reporting period
(2) Derivative investment
□ Applicable √ Not applicable
The Company has no derivative investment during the reporting period
5. Application of raised proceeds
□ Applicable √ Not applicable
The Company has no application of raised proceeds during the reporting period
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
VII. Sales of major assets and equity
1. Sales of major assets
□ Applicable √ Not applicable
The Company had no major assets were sold during the reporting period
2. Sales of major equity
□ Applicable √ Not applicable
VIII. Analysis of main holding Company and stock-jointly companies
√ Applicable □ Not applicable
Main subsidiary and participating companies with an impact of 10% or more on the Company’s net profit
Unit: RMB/CNY
Company Main Register Operating
Type Total assets Net assets Operating profit Net profit
name business capital revenue
Shenzhen
Auto Sales of RMB
Subsidia 465,053,209.6 416,366,405 15,707,64
Industry and auto and 58.96 19,441,350.65 16,777,366.31
ry 2 .43 0.85
Trade accessories million
Corporation
Auto
Shenzhen
maintenance
SDG Huari
Subsidia and USD 5 33,840,302. 18,688,99
Auto 78,933,844.98 2,577,906.29 179,232.25
ry production million 05 2.55
Enterprise
and sales of
Co., Ltd.
accessories
Shenzhen
RMB
Zhongtian Subsidia Property 602,461,949.9 476,881,625 49,206,71
366.2219 27,672,928.10 20,579,654.24
Industrial ry rental 9 .27 8.02
million
Co,. Ltd.
Shenzhen
Huari
Toyota Subsidia RMB 2 10,077,189. 112,831,2
Auto sales 80,858,425.20 -1,082,890.12 -1,107,237.10
Automobile ry million 17 30.57
Sales Co.
Ltd
Shenzhen Manufactur
Xinyongton e of RMB
Subsidia 476,881,625 1,978,661.
g inspection 19.61 18,230,660.84 246,142.59 425,092.64
ry .27 48
Automobile equipment million
Testing for motor
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Equipment vehicle
Co., Ltd.
Shenzhen
Tellus
Inspection
Xinyongton RMB
Subsidia and repair 465,053,209.6 416,366,405 3,804,172.
g 32.90 1,770,815.60 1,328,111.70
ry of motor 2 .43 09
Automobile million
vehicle
Developme
nt Co., Ltd.
Shenzhen
Tellus
Subsidia Property RMB 14 16,276,419. 1,946,741.
Chuangying 19,641,733.15 691,689.07 943,286.42
ry rental million 15 82
Technology
Co., Ltd.
Purchase,
sales and
leasing of
Shenzhen
gold jewelry
Tellus
and precious
Treasury Subsidia RMB 50 21,716,113. 44,362,81
metal 51,319,457.05 -585,503.44 -585,503.44
Supply ry million 28 8.87
products,
Chain Tech.
coffer lease
Co., Ltd.
and
warehousin
g services
Jewellery
fair
planning,
Shenzhen jewellery on
Jewelry consignmen
Subsidia RMB 100 21,716,113. 3,883,226.
Industry t, exhibition 51,319,457.05 -3,096,012.15 -3,096,012.15
ry million 28 58
Service Co., planning,
LTD conference
services and
marketing
planning
Shenzhen
Joint
Zung Fu Car sales
stock RMB 30 213,898,319.5 74,875,538. 493,226,6
Tellus Auto and -4,851,019.23 -3,318,473.42
Compan million 6 99 17.42
Service Co., maintenance
y
Ltd.
Shenzhen Joint Investment RMB
387,370,319.7 81,703,870. 51,327,65
Tellus stock in industry, 123.70496 20,859,078.84 17,478,284.13
1 60 8.48
Gman Compan property million
- 17
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Investment y managemen
Co., Ltd. t and leasing
Particular about subsidiaries obtained or disposed in report period
√ Applicable □ Not applicable
Way to obtained and dispose in the Impact on overall operation and
Name
Period performance
The subsidiary was incorporated on June
Guorun Gold (Shenzhen) Co., Ltd. Newly established 28, and has no impact on results of the
performance during the reporting period
IX Structured vehicle controlled by the Company
□ Applicable √ Not applicable
X. Risks of the Company and countermeasures
1. Risk from market volatility
Affected by international situation, epidemic in and out of China and other factors, domestic economic growth is
slowing down, the pressure of industrial restructure is increasing; outbreaks of COVID-19 recurs from time to time,
causing a significant impact on the economic development, the overall economic environment brings uncertain
impact on the Company’s operation.
Countermeasures: in response to this risk, the company will actively take various preventive measures. Firstly,
reinventing the main line of management, improve efficiency through scientific management, tap the potential to
increase revenue, and comprehensively improve the profitability of the original business; secondly, firmly promote
the pace of strategic transformation, driving the transformation through innovative business models; exploit the
incremental markets, expanding business scale and finding new profit growth points, and continuously enhance the
market influence of the Company, providing a favorable foundation for the long-term stable development of the
Company.
2. Risks of transformation restricted by talent shortage
During the period of enterprise transformation and development, with the rapid expansion of new business scale,
enterprises have an increasing demand for all kinds of talents, whether technical or management talents. However,
the existing talent team is gradually unable to meet the requirements of development.
Countermeasures: formulate “top-down” talent training goals, and establish “bottom-up” talent training plans.
Formulate talent training and introduction plans combine with the third-party strategy of jewelry and the talent
training cycle, so that the talent training plan and the enterprise development strategy are “in harmony”. Establish
unselfish, diligent and truth-seeking work style, improve cohesion and execution, and ensure the stability of
enterprise transformation.
- 18
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Section IV Corporate Governance
I. AGM(Annual General Meeting) and extraordinary general meeting
1. AGM held in the period
Ratio of investor
Session of meeting Type Meeting Date Date of disclosure Resolutions
participation
Found more in
Resolution of the
Annual General
Meeting of 2021
(Notice No.: 2022-
016) released on
Annual General
AGM 60.77% 2022-04-29 2022-04-30 Securities Times,
Meeting of 2021
Hong Kong
Commercial Daily
and Juchao
Website
(www.cninfo.com.
cn)
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□Applicable √Not applicable
II. Changes of directors, supervisors and senior executives
√Applicable □Not applicable
Name Working status Type Date Causes
Yang Resigned as a Director of the Company for
Director Leaving office 2022-03-29
Hongyu work reasons
Elected as the Director of the 10th BOD of
Yang Xi Director Elected 2022-04-29 the Company at the second formal meeting
of 10th BOD and AGM of 2021
Resigned as a Director of the Company for
Gu Zhiming Director Leaving office 2022-05-20
work reasons
III. Profit distribution plan and capitalizing of common reserves in the period
□ Applicable √ Not applicable
The Company plans not to distributed cash dividends and there are no bonus shares and capitalizing of common
reserves either for the first half of the year.
- 19
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
IV. Implementation of the Company’s stock incentive plan, employee stock ownership plan or
other employee incentives
□Applicable √ Not applicable
During the reporting period, the Company has no stock incentive plan, employee stock ownership plan or other
employee incentives that have not been implemented.
- 20
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Section V Environmental and Social Responsibility
I. Major environmental protection
Listed Company and its subsidiary belong to the key pollution enterprise listed by Department of Environmental
Protection
□Yes √No
Measures taken to reduce the carbon emission during the reporting period and their effectiveness
□Applicable √ Not applicable
II. Social responsibility
The Company has always been committed to repaying shareholders, achieving employees’ value, and contributing
to the society. Based on the principle of fairness, the company actively safeguarded the legitimate rights and interests
of shareholders; advocated realizing self-worth while realizing corporate value, created an enterprise atmosphere in
which the company cares for employees, employees love the company, and develop harmoniously together; actively
repaid the society and the public, and fulfilled the responsibility of a state-owned enterprise, donated living
materials to the community, implementing the rental reduction and relief policies of the Shenzhen Municipal
Government and the Municipal SASAC to help the tenants cross difficult times; meanwhile, during the tough time
of the epidemic in Shenzhen, three employees were sent to participate in the anti-epidemic works on a full-time
basis, organize volunteers from the Company to participate in many community works of epidemic prevention and
control.
- 21
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Section VI Important Event
I. Commitments that the actual controller, shareholders, related party, buyers and the Company have
fulfilled during the reporting period and those that have been overdue as of the end of the reporting period
√Applicable □Not applicable
Type
of Comm Comm Imple
Commitmen Commitm
comm Content of commitments itment itment mentat
ts ent party
itment date term ion
s
The commitments to the fulfillment of information disclosure
about the Company business development are as follows: except
Commitmen
Shenzhen for the information has been disclosed publicly, the Company has
ts make in Imple
Tellus not had the disclosed information about asset acquisition and 2014- Long-
initial public Other menti
Holding business development that has not been disclosed within one year. 10-17 term
offering or ng
Co., Ltd. In the future, the Company shall timely, accurately and adequately
re-financing
disclose the relevant information according to the progress of new
business and the related requirements.
In order to avoid the horizontal competition, the Company’s
controlling shareholder, Shenzhen Special Development Group
Other
Shenzhen Co., Ltd. has issued the “commitment letter about the avoidance
commitment Horiz
Special of horizontal competition” on May 26, 2014. The full commitment Imple
s for ontal 2014- Long-
Developm letter is as follows: 1. The Company and other enterprises menti
medium and Comp 05-26 term
ent Group controlled by the Company except Tellus Group haven’t occupied ng
small etition
Co., Ltd. in any business that could substantially compete with the main
shareholders
businesses of Tellus Group, and have no horizontal competition
relationship with Tellus Group.
From 2020 to 2022, the Company’s profits will first be used to
cover the losses of previous years; after making up for losses of
previous years, in the premise that the Company’s profits and cash
flow can meet the Company's normal operations and long-term
development, reward shareholders, the Company will implement
Other
positive profit distribution approaches to reward the shareholders,
commitment Shenzhen Divide
details are as follows: 1. The Company’s profit distribution can Imple
s for Tellus nd 2021- 2022-
adopt cash, stock or the combination of cash and stock or other menti
medium and Holding comm 04-24 12-31
methods permitted by law. The foreign currency conversion rates ng
small Co., Ltd. itment
of domestically listed foreign shares dividend are calculated
shareholders
according to the standard price of HK dollar against RMB
announced by People's Bank of China on the first working day
after the resolution date of the shareholders' meeting. The
Company prefers to adopt the cash dividends to distribute profits.
In order to maintain the adaptability between capital expansion
- 22
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
and performance growth, in the premise of ensuring the full cash
dividend distributions and the rationality of equity scale and
equity structure, the Company can adopt the stock dividend
methods to distribute profits. 2. According to the "Company Law"
and other relevant laws and the provisions of the Company’s
"Articles of Association", following conditions should be satisfied
when the Company implements cash dividends: (1) the
Company's annual distributable profits (i.e. the after-tax profits
after making up for losses and withdrawing accumulation funds)
are positive value, the implementation of cash dividends will not
affect the Company's subsequent continuing operations; (2) the
audit institution issues the standard audit report with clean opinion
to the Company's annual financial report; (3) the Company has no
significant investment plans or significant cash outlay (except for
fund-raising projects). Major investment plans or significant cash
outlay refer to: the accumulated expenditures the Company plans
to used for investments abroad, acquisition of assets, or purchase
of equipment within the next 12 months reach or exceed 30% of
the net assets audited in the latest period. 3. In the premise of
meeting the conditions of cash dividends and ensuring the
Company’s normal operation and long-term development, the
Company makes cash dividends once a year in principle, the
Company’s board of directors can propose the Company to make
interim cash dividends in accordance with the Company's
profitability and capital demand conditions. The proportion of
cash dividends in profits available for distribution and in
distribution of profits should meet the following requirements: (1)
in principle, the Company’s profits distributed in cash every year
should not be less than 10% of profit available for distribution
realized in the same year, and the Company’s profits
accumulatively distributed in cash in the last three years should
not be less than 30% of the annual average profit available for
distribution realized in the last three years. (2) if the Company’s
development stage belongs to mature stage and there is no
significant capital expenditure arrangement, when distributing
profits, the minimum proportion of cash dividends in this profit
distribution should be 80%; (3) if the Company’s development
stage belongs to mature stage and there are significant capital
expenditure arrangements, when distributing profits, the
minimum proportion of cash dividends in this profit distribution
should be 40%; (4) if the Company’s development stage belongs
to growth stage and there are significant capital expenditure
arrangements, when distributing profits, the minimum proportion
of cash dividends in this profit distribution should be 20%; when
- 23
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
the Company's development stage is not easy to be differed but
there are significant capital expenditure arrangements, please
handle according to the preceding provisions. 4. On the condition
of meeting the cash dividend distribution, if the Company's
operation revenue and net profit grow fast, and the board of
directors considers that the Company’s equity scale and equity
structure are reasonable, the Company can propose and implement
the dividend distribution plans except proposing the cash dividend
distribution plans. When allocating stock dividend every time, the
stock dividend per 10 shares should be no less than 1 share. Stock
allocation can be implemented individually or in combination of
cash dividends. When confirming the exact amount of profit
distribution by stock, the Company should fully consider if the
general capital after profit distribution by stock matches with the
Company’s current operation scale and profit growth rate and
consider the impact on future financing so as to make sure the
allocation plans meet the overall interests of all shareholders.
Completed
on time Y
(Y/N)
As for the
commitment
out of the
commitment
time, Not applicable
explain the
specific
reasons and
further plans
II. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period.
III. Guarantee outside against the regulation
□Applicable √Not applicable
No guarantee outside against the regulation in Period.
IV. Appointment and non-reappointment (dismissal) of CPA
Whether the semi-annual financial report had been audited
- 24
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
□Yes √ No
The semi-annual report was not audited
V. Explanation on “Qualified Opinion” from CPA by the Board and Supervisory Committee
□Applicable √Not applicable
VI. Explanation from the Board for “Qualified Opinion” of last year’s
□Applicable √Not applicable
VII. Bankruptcy reorganization
□Applicable √Not applicable
No bankruptcy reorganization in Period.
VIII. Lawsuits
Material lawsuits and arbitration
□Applicable √Not applicable
There were no material lawsuits and arbitration during the reporting period
Other lawsuits
√ Applicable □ Not applicable
Amount Advanc
The basic of money Predicte es in
Execution of the Discl
situation of involved d litigatio The results and effects of Disclosure
litigation osure
litigation (in 10 liabilitie n litigation (Arbitration) index
(Arbitration) date
(Arbitration) thousand s (Y/N) (Arbitrat
Yuan) ion)
Jintian Company should 400,800 yuan has
pay the company 325,000 been paid back
yuan in cash and 427,604 (including 325,000
The “Annual
A-shares and 163,886 B- yuan in cash as
Disputes Report of
shares of Jintian Company determined in the
over 2021”
Enforce within five days after the judgment and a total
guarantee 2022- released on
32.5 N ment judgment takes effect (If of 75,800 yuan in
rights of 04-08 Juchao
stage the stock cannot be cash such as B-shares
recovery Website
delivered, it can be paid converted to cash,
(Jintian) (www.cninfo.
after being converted to preservation fees,
com.cn)
cash at the stock market delayed performance
price on the last day of the fees, etc.), and
performance period). 427,604 A-shares
- 25
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Jintian Company failed to have been transferred
perform its obligations to the account
determined in the judgment designated by the
in a timely manner, and the court, we are now
company filed an waiting for the
application for compulsory Qianhai Court to
execution with the court. transfer the aforesaid
funds and stocks to
the Company.
Dispute over The “Notice
the on Receipt of
shareholder The company has received the Civil
qualification the first-instance judgment Judgment of
confirmation on June 30, 2022. The the first
(Japan judgment confirmed that Instance by
Chukyo Auto the plaintiffs, Chukyo the Company
Corp(日本國 Company and ACU and its
中京自動車 Company, are the controlling
shareholders of the subsidiary”(
株式會 Second
defendant, SDG Huari. The No implementation 2022- Notice No.:
社),ACU 19.84 N stage of
case acceptance fee of involved at this time 07-02 2022-035)
Enterprise trial
99,200 yuan shall be borne released on
Inc.(ACU 企
by the defendant, SDG Securities
業株式會 Huari. Now, SDG Huari Times, Hong
社)filed a has appealed and paid the Kong
lawsuit in legal fees, and is waiting Commercial
court to for the second trial to be Daily and
confirm their scheduled for hearing. Juchao
shareholder Website
status in (www.cninfo.
SDG Huari) com.cn)
The court ruled that the As of June 2022, the
Letter of Agreement and company has
the Supplementary Change recovered all the
Agreement on Issues such properties involved
Housing as Rent Collection of Street in the case, and
Enforce
lease contract Stores on Tellus North received the
30.54 N ment
dispute (Mao Road between Mao execution payment of
stage
Zhexiang) Zhexiang and the company 283,383.45 yuan, and
are terminated from the remaining
January 31, 2020; Mao payment (interest of
Zhexiang should vacate the about 22,000 yuan) is
street stores involved in the being executed. On
- 26
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
case and hand over to the June 24, 2022, the
company, and pay Tellus Luohu Court issued a
Holding the possession and high consumption
use fee by 12,498 yuan per restriction order to
month from May 1, 2020 to Mao Zhexiang.
the date of the actual return
of the street shop involved
in the case. Mao Zhexiang
did not take the initiative to
perform his obligations,
and Tellus Holding applied
for compulsory execution.
Construction
Contract The Company received the
Dispute first trial decision on
(Shenzhen December 17, 2021, which
Lvcheng ruled that the Company and
Eco- Second Yinglong Company pay
No implementation
Development 51.59 N stage of 503,000 yuan principal and
involved at this time
Co., Ltd, trial interest to Lvcheng
Shenzhen Company together. Now
Yinglong the Company has appealed
Jian’an and awaits the second trial
(Group) Co., hearing and verdict
Ltd.)
The court ruled that the
defendant, Shenzhen SDG
Tellus Real Estate Co., Ltd,
should survey and draw the
house property at Room
Dispute on
502, Building 4, Tellus
Sales
Garden purchased by Liu
Contract of
Judgme Dan, the plaintiff, within
Commercial Has cooperated with
nt one month after judgment
Property (Liu the plaintiff to stamp
0.02 N satisfact came into effect, the sheet
Dan, on licensing
ion number is 481614010029.
Shenzhen documents
stage Provide relevant
SDG Tellus
information required for
Real Estate
applying for the house
Co., Ltd.)
property certificate for
Room No.529 of the house.
The case acceptance fee of
200 yuan shall be borne by
the defendant, Shenzhen
- 27
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
SDG Tellus Real Estate
Co., Ltd. Because the
implementation of the case
is clear, the company does
not need to bear the
corresponding
responsibility, it plans to no
longer appeal. In June, the
company has cooperated
with the plaintiff to stamp
on the documents for
applying for a certificate.
IX. Penalty and rectification
□ Applicable √Not applicable
X. Integrity of the Company and its controlling shareholders and actual controllers
□ Applicable √Not applicable
XI. Major related transaction
1. Related transaction with routine operation concerned
√ Applicable □ Not applicable
Relate Whet
Tradi
d Propo her Cleari
ng
Type Conte transa rtion over ng Availa
Relate limit
of nt of Pricin ction in the form ble Date Index
Relate Relati d appro
relate relate g amou simila appro for simila of of
d onshi transa ved
d d princi nt (in r ved relate r disclo disclo
party p ction (in 10
transa transa ple 10 transa limite d marke sure sure
price thousa
ction ction thousa ctions d or transa t price
nd
nd (%) not ction
Yuan)
Yuan) (Y/N)
Shenz Direct Settle
hen or/Su ment
Routi Provi
Zung pervis Refer accor
ne ding
Fu or/ SE ence ding
relate proper 259.5 259.5 259.5
Tellus serves to 2.61% 545 N to
d ty 2 2 2
Auto direct marke contra
transa leasin
Servic or of t price ct or
ctions g
e Co., the agree
Ltd. Comp ment
- 28
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
any
Shenz
hen Settle
SDG Subsi ment
Routi Provi
Tellus diary Refer accor
ne ding
Prope of the ence ding
relate proper
rty contro to 1.52 1.52 0.02% 14 N to 1.52
d ty
Mana lling marke contra
transa leasin
geme shareh t price ct or
ctions g
nt older agree
Co., ment
Ltd.
Provi
ding Settle
Shenz Subsi proper ment
Routi
hen diary ty Refer accor
ne
SDG of the leasin ence ding
relate
Petty contro g and to 65.41 65.41 0.66% 140 N to 65.41
d
Loan lling mana marke contra
transa
Co., shareh geme t price ct or
ctions
Ltd. older nt agree
servic ment
e
Jewelr
Settle
y Park Sub-
ment
Branc subsid Routi Provi
Refer accor
h of iary ne ding
ence ding
Shenz of relate proper 110.8 110.8 110.8
to 1.11% 180 N to
hen contro d ty 3 3 3
marke contra
SDG lling transa leasin
t price ct or
Servic shareh ctions g
agree
e Co., older
ment
Ltd.
Recei
Jewelr
ve Settle
y Park Sub-
servic ment
Branc subsid Routi
e of Refer accor
h of iary ne
cleani ence ding
Shenz of relate 523.6 523.6 47.83 523.6
ng to 36 N to
hen contro d 2 2 % 2
and marke contra
SDG lling transa
greeni t price ct or
Servic shareh ctions
ng agree
e Co., older
and ment
Ltd.
renov
- 29
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
ation
Shenz
hen Accep Settle
SDG Subsi ting ment
Routi
Tellus diary proper Refer accor
ne
Prope of the ty ence ding
relate 152.9 152.9 152.9
rty contro mana to 0.81% 1,570 N to
d 1 1 1
Mana lling geme marke contra
transa
geme shareh nt t price ct or
ctions
nt older servic agree
Co., e ment
Ltd.
1,113.
Total -- -- -- 2,485 -- -- -- -- --
81
Detail of sales return with major
N/A
amount involved
Report the actual implementation
of the normal related transactions
which were projected about their Performing normally
total amount by types during the
reporting period (if applicable)
Reasons for major differences
between trading price and market Not applicable
reference price (if applicable)
2. Related transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in reporting period
3. Main related transactions of mutual investment outside
□ Applicable √ Not applicable
No main related transactions of mutual investment outside for the Company in reporting period
4. Contact of related credit and debt
□ Applicable √ Not applicable
Whether has non-operational contact of credit and debts or not
□Yes √No
There was no non-operational contact of credit and debts during the reporting period
- 30
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
5. Contact with the related finance companies
□ Applicable √ Not applicable
There are no deposits, loans, credits or other financial business between the Company and the finance companies
with related relationships or between the related parties
6. Contact with the finance companies controlled by the Company and related parties
□ Applicable √ Not applicable
There are no deposits, loans, credits or other financial business between the finance companies controlled by the
Company and related parties
7. Other related transactions
□Applicable √Not applicable
No other related transaction in Period
XII. Significant contract and implementations
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
No trusteeship for the Company in reporting period
(2) Contract
□ Applicable √ Not applicable
No contract for the Company in reporting period
(3) Leasing
□ Applicable √ Not applicable
No leasing for the Company in reporting period
2. Major guarantees
√ Applicable □ Not applicable
In 10 thousand Yuan
Particulars about the external guarantee of the Company and its subsidiary (Barring the guarantee for subsidiaries)
Name of Related Guarante Actual Actual Guarante Collatera Counter Guarante Impleme Guarante
- 31
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
the Announc e limit date of guarante e type l (if any) guarante e term nted e for
Compan ement happenin e limit e (if any) (Y/N) related
y disclosur g party
guarante e date (Y/N)
ed
Shenzhe
To the
n Zung
expire
Fu
2014-09- 2007-04- date of
Tellus 3,500 3,500 Pledge N Y
30 17 joint
Auto
venture
Service
contract
Co., Ltd.
Total approving Total actual occurred
external guarantee in 0 external guarantee in 3,500
report period (A1) report period (A2)
Total approved Total actual balance
external guarantee at of external guarantee
3,500 3,500
the end of report at the end of report
period (A3) period (A4)
Guarantee of the Company to subsidiaries
Name of
Related Guarante
the Actual
Announc Actual Counter Impleme e for
Compan Guarante date of Guarante Collatera Guarante
ement guarante guarante nted related
y e limit happenin e type l (if any) e term
disclosur e limit e (if any) (Y/N) party
guarante g
e date (Y/N)
ed
Guarantee of the subsidiaries to subsidiaries
Name of
Related Guarante
the Actual
Announc Actual Counter Impleme e for
Compan Guarante date of Guarante Collatera Guarante
ement guarante guarante nted related
y e limit happenin e type l (if any) e term
disclosur e limit e (if any) (Y/N) party
guarante g
e date (Y/N)
ed
Total amount of guarantee of the Company (total of three above mentioned guarantee)
Total amount of Total amount of
approving guarantee actual occurred
3,500
in report period guarantee in report
(A1+B1+C1) period (A2+B2+C2)
Total amount of Total balance of
approved guarantee actual guarantee at
3,500 3,500
at the end of report the end of report
period (A3+B3+C3) period (A4+B4+C4)
The proportion of the total amount of 2.39%
- 32
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
actually guarantee in the net assets of the
Company (that is A4+ B4+C4)
Including:
3. Trust financing
√ Applicable □ Not applicable
In 10 thousand Yuan
Impairment for the
Outstanding Amount overdue
Type Capital resources Amount for entrust overdue financial
balance for collection
management
Bank financing
Own funds 70,000 42,100 0 0
product
Total 70,000 42,100 0 0
Details of the single major amount, or high-risk trust investment with low security, poor fluidity and non-guaranteed
□Applicable √Not applicable
Entrust financial expected to be unable to recover the principal or impairment might be occurred
□Applicable √Not applicable
4. Other material contracts
□ Applicable √ Not applicable
No other material contracts for the Company in reporting period.
XIII. Description of other significant matters
√ Applicable □ Not applicable
Resolved by the 4th interim Meeting of 10th BOD, the Company cooperated with Shenzhen HTI, Chow Tai Fook
Jewelry Culture Industrial Park (Wuhan) Co., Ltd to jointly invest in the establishment of an enterprise of a gold
flow platform, the project has 200 million yuan in total for the investment. Found more on the “Notice on Investment
of a Gold Flow Platform” (Notice No.: 2022-027) released on Securities Times, Hong Kong Commercial Daily and
Juchao Website (www.cninfo.com.cn) dated June 15, 2022. The gold flow platform company has been registered
presently and will carry out business gradually.
XIV. Important event of the subsidiaries
√ Applicable □ Not applicable
Due to the expiry of business term under the name of controlling subsidiary - Shenzhen SDG Huari Auto Enterprise
Co., Ltd, the Company is advancing the follow-up matters of the expiration of business term of SDG Huari in line
with the laws and regulations. The business premises of Shenzhen Huari Toyota Auto Sales Service Co., Ltd-
controlling subsidiary of the Company is the property owned by SDG Huari, due to the risks of liquidation of SDG
Huari, the Company is in-depth studying the future director of Huari Toyota. In addition, SDG Huari appealed
against the first instance judgment in the dispute over the confirmation of shareholder qualification, and SDG Huari
- 33
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
has filed an appeal in accordance with the law. Found more in the “Informative Notice on Expiration of the Business
Term of Controlling Subsidiary” (Notice No.: 2022-030), “Notice on Response to the Concern Letter of Shenzhen
Stock Exchange” (Notice No.: 2022-032), “Receipt of the Civil Judgment of the First Instance by the Company and
its Controlling Subsidiary” (Notice No.: 2022-035), “Notice on Expiration of the Business Term of Controlling
Subsidiary” (Notice No.: 2022-038) and “Progress of Litigation of the Controlling Subsidiary” (Notice No.: 2022-
039) released on Securities Times, Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) dated
June 22, 2022, June 29, July 2, and July 29 respectively. In view of the fact that SDG Huari is still involved in
litigation, and the related matters with SDG Huari concerned are uncertain in the short term, the Company will,
through all legal means to protect the interest of majority investors, claim the rights and interest of the Company,
and will pay close attention to the subsequent progress of the matters and timely compliance with the information
disclosure obligations.
- 34
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Section VII. Changes in Shares and Particulars about Shareholder
I. Changes in Share Capital
1. Changes in Share Capital
Unit: share
Before change Increase/decrease in this time (+ , - ) After change
Capitaliza
New
Bonus tion of
Amount Ratio shares Other Subtotal Amount Ratio
share public
issued
reserve
I.
Restricted 0 0.00% 0 0 0 0 0 0 0.00%
shares
1. State
0 0.00% 0 0 0 0 0 0 0.00%
holding
2. State-
owned
0 0.00% 0 0 0 0 0 0 0.00%
corporatio
n shares
3. Other
domestic 0 0.00% 0 0 0 0 0 0 0.00%
shares
Including:
domestic
legal 0 0.00% 0 0 0 0 0 0 0.00%
person’s
shares
Domestic
natural 0 0.00% 0 0 0 0 0 0 0.00%
person’s
shares
4. Foreign
er’s 0 0.00% 0 0 0 0 0 0 0.00%
shares
Including:
foreign
0 0.00% 0 0 0 0 0 0 0.00%
corporatio
n shares
Foreign
natural 0 0.00% 0 0 0 0 0 0 0.00%
person’s
shares
II. Un-
431,058,3 431,058,3
restricted 100.00% 0 0 0 0 0 100.00%
shares 20 20
1. RMB
392,778,3 392,778,3
ordinary 91.12% 0 0 0 0 0 91.12%
shares 20 20
2.
Domestic
38,280,00 38,280,00
ally listed 8.88% 0 0 0 0 0 8.88%
foreign 0 0
shares
2. Foreign
shares 0 0.00% 0 0 0 0 0 0 0.00%
listed
- 35
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
aboard
3. Other 0 0.00% 0 0 0 0 0 0 0.00%
III. Total 431,058,3 431,058,3
100.00% 0 0 0 0 0 100.00%
shares 20 20
Reasons for share changed
□ Applicable √ Not applicable
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changed
□ Applicable √ Not applicable
Progress of shares buy-back
□ Applicable √ Not applicable
Implementation progress of reducing holdings of shares buy-back by centralized bidding
□ 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 or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
2. Changes of lock-up stocks
□ Applicable √ Not applicable
II. Securities issuance and listing
□ Applicable √ Not applicable
III. Amount of shareholders of the Company and particulars about shares holding
Unit: share
Total common stock Total preference shareholders with voting
shareholders in reporting 73,270 rights recovered at end of reporting period (if 0
period-end applicable) （see note 8）
Particulars about common shares held above 5% by shareholders or top ten common shareholders
Amount of Amount Information of
Amount of
Full name common of shares pledged,
Proportion common
of Nature of shares held at Changes in restricted tagged or frozen
of shares shares held
Shareholde shareholder the end of report period common
held without State of
rs reporting shares Amount
restriction share
period held
Shenzhen
Special State-
Developme owned 49.09% 211,591,621 0 0 211,591,621 0
nt Group corporation
Co., Ltd.
- 36
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Shenzhen
Capital
Fortune Domestic
Jewelry non state-
10.89% 46,923,432 -8,621,005 0 46,923,432 0
Industry owned
Investment corporate
Enterprise
(LP)
Domestic
Li
nature 0.60% 2,607,800 2,607,800 0 2,607,800 0
Xiaoming
person
GUOTAIJ
UNANSEC
URITIES( Foreign
0.40% 1,744,491 -112,055 0 1,744,491 0
HONGKO corporation
NG)LIMIT
ED
Industrial
and
Commercia
l Bank of
China -
China
Southern 0.39% 1,663,775 1,663,775 0 1,663,775 0
CSI Index
Real Estate
Traded
Open-
ended
Index Fund
Huatai State-
Securities owned 0.32% 1,382,458 1,382,458 0 1,382,458 0
Co., Ltd. corporation
Foreign
UBS AG 0.30% 1,309,975 1,309,975 0 1,309,975 0
corporation
Domestic
Li Hao nature 0.30% 1,300,241 1,300,241 0 1,300,241 0
person
Domestic
Gao Bo nature 0.23% 1,000,000 1,000,000 0 1,000,000 0
person
Domestic
Lin Haizhi nature 0.19% 809,766 809,766 0 809,766 0
person
- 37
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Strategy investor or
general legal person
becoming the top 10
N/A
common shareholders by
placing new shares (if
applicable) (see note 3)
Among the top ten shareholders, there exists no associated relationship between the state-owned legal
Explanation on associated person’s shareholders SDG, Ltd and other shareholders, and they do not belong to the persons acting
relationship among the in concert regulated by the Management Measure of Information Disclosure on Change of
aforesaid shareholders Shareholding for Listed Companies. For the other shareholders of circulation share, the Company is
unknown whether they belong to the persons acting in concert.
Description of the above
shareholders in relation to
delegate/entrusted voting Not applicable
rights and abstention from
voting rights.
Special note on the
repurchase account among
N/A
the top 10 shareholders (if
applicable) (see note 11)
Particular about top ten shareholders with un-lock up common stocks held
Amount of common shares held without restriction Type of shares
Shareholders’ name
at Period-end Type Amount
Shenzhen Special
Development Group Co., 211,591,621 RMB common shares 211,591,621
Ltd.
Shenzhen Capital Fortune
Jewelry Industry
46,923,432 RMB common shares 46,923,432
Investment Enterprise
(LP)
Li Xiaoming 2,607,800 RMB common shares 2,607,800
GUOTAIJUNANSECURI
Domestically listed
TIES(HONGKONG)LIM 1,744,491 1,744,491
foreign shares
ITED
Industrial and
Commercial Bank of
China -China Southern
1,663,775 RMB common shares 1,663,775
CSI Index Real Estate
Traded Open-ended Index
Fund
Huatai Securities Co., Ltd. 1,382,458 RMB common shares 1,382,458
UBS AG 1,309,975 RMB common shares 1,309,975
Li Hao 1,300,241 RMB common shares 1,300,241
Gao Bo 1,000,000 RMB common shares 1,000,000
- 38
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Lin Haizhi 809,766 RMB common shares 809,766
Expiation on associated
relationship or consistent
Among the top ten shareholders, there exists no associated relationship between the state-owned legal
actors within the top 10
person’s shareholders SDG, Ltd and other shareholders, and they do not belong to the persons acting
un-lock up common
in concert regulated by the Management Measure of Information Disclosure on Change of
shareholders and between
Shareholding for Listed Companies. For the other shareholders of circulation share, the Company is
top 10 un-lock up common
unknown whether they belong to the persons acting in concert.
shareholders and top 10
common shareholders
The shareholder Li Hao holds 1,300,241 shares of the company's stock through a credit transaction
Explanation on top 10
guarantee securities account, and 0 share of the company's stock through an ordinary securities
common shareholders
account, for a total of 1,300,241 shares. The shareholder Lin Haizhi holds 809,766 shares of the
involving margin business
company's stock through a credit transaction guarantee securities account, and 0 share of the
(if applicable) (see note 4)
company's stock through an ordinary securities account, for a total of 809,766 shares.
Whether top ten common stock shareholders or top ten common stock shareholders with un-lock up shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-lock up shares held of the Company have no
buy-back agreement dealing in reporting period.
IV. 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
2021.
V. Changes in controlling shareholders or actual controllers
Change of controlling shareholder during the reporting period
□ Applicable √ Not applicable
Change of actual controller during the reporting period
□ Applicable √ Not applicable
The Company had no change of actual controller during the reporting period
- 39
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Section VIII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the Period
- 40
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Section IX. Corporate Bonds
□ Applicable √ Not applicable
- 41
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Section X. Financial Report
I. Financial Statement
Statement in Financial Notes are carried in RMB/CNY
1. Consolidated Balance Sheet
Prepared by Shenzhen Tellus Holding Co., Ltd.
June 30, 2022
Unit: RMB/CNY
Item June 30, 2022 December 31, 2022
Current assets:
Monetary funds 219,732,744.23 240,582,057.16
Settlement provisions
Capital lent
Trading financial assets 422,095,775.34 412,712,843.84
Derivative financial assets
Note receivable
Account receivable 55,148,362.83 18,094,059.92
Receivable financing
Accounts paid in advance 13,892,808.08 16,532,227.85
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 7,554,454.53 5,072,970.77
Including: Interest receivable
Dividend receivable 547,184.35 547,184.35
Buying back the sale of financial
assets
Inventories 27,425,910.86 25,434,925.04
Contractual assets
Assets held for sale 530,520.33
Non-current asset due within one
year
Other current assets 3,630,901.41 8,596,585.57
Total current assets 749,480,957.28 727,556,190.48
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
- 42
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Long-term account receivable
Long-term equity investment 81,238,655.05 88,310,867.47
Investment in other equity
10,176,617.20 10,176,617.20
instrument
Other non-current financial assets
Investment real estate 541,520,365.78 551,383,294.54
Fixed assets 112,837,946.28 109,438,198.23
Construction in progress 261,124,333.54 210,197,546.72
Productive biological asset
Oil and gas asset
Right-of-use assets 6,513,372.33 7,336,915.83
Intangible assets 48,966,336.58 49,589,498.28
Expense on Research and
Development
Goodwill
Long-term expenses to be
26,848,710.98 28,682,636.66
apportioned
Deferred income tax asset 8,499,551.03 8,499,551.03
Other non-current asset 54,605,044.16 68,473,888.99
Total non-current asset 1,152,330,932.93 1,132,089,014.95
Total assets 1,901,811,890.21 1,859,645,205.43
Current liabilities:
Short-term loans
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable
Account payable 69,778,883.21 67,407,763.03
Accounts received in advance 10,861,839.87 1,827,827.28
Contractual liability 10,168,590.39 21,059,311.18
Selling financial asset of repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 41,549,410.57 38,893,597.75
Taxes payable 21,055,313.44 48,522,100.45
Other account payable 115,063,036.77 112,617,963.65
Including: Interest payable
Dividend payable
Commission charge and
commission payable
Reinsurance payable
- 43
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Liability held for sale
Non-current liabilities due within
2,884,263.93 3,021,452.25
one year
Other current liabilities 601,487.93 2,367,994.70
Total current liabilities 271,962,826.11 295,718,010.29
Non-current liabilities:
Insurance contract reserve
Long-term loans 121,670,407.44 86,875,874.39
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability 3,963,266.13 4,474,543.09
Long-term account payable 3,920,160.36 3,920,160.36
Long-term wages payable
Accrual liability 268,414.80 268,414.80
Deferred income 9,558,134.67 10,235,331.21
Deferred income tax liabilities 963,045.49 963,045.49
Other non-current liabilities
Total non-current liabilities 140,343,428.89 106,737,369.34
Total liabilities 412,306,255.00 402,455,379.63
Owner’s equity:
Share capital 431,058,320.00 431,058,320.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 431,449,554.51 431,449,554.51
Less: Inventory shares
Other comprehensive income 26,422.00 26,422.00
Reasonable reserve
Surplus public reserve 26,546,480.09 26,546,480.09
Provision of general risk
Retained profit 576,542,187.29 543,843,496.85
Total owner’ s equity attributable to
1,465,622,963.89 1,432,924,273.45
parent company
Minority interests 23,882,671.32 24,265,552.35
Total owner’ s equity 1,489,505,635.21 1,457,189,825.80
Total liabilities and owner’ s equity 1,901,811,890.21 1,859,645,205.43
Legal Representative: Fu Chunlong
Person in charge of Accounting Works: Lou Hong
- 44
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Person in charge of Accounting Institution: Lou Hong
2. Balance Sheet of Parent Company
Unit: RMB/CNY
Item June 30, 2022 December 31, 2022
Current assets:
Monetary funds 81,036,027.27 96,860,811.12
Trading financial assets 416,095,775.34 346,485,780.83
Derivative financial assets
Note receivable
Account receivable 2,715,392.30 119,014.41
Receivable financing
Accounts paid in advance 1,086,453.80 180,505.50
Other account receivable 2,263,037.37 90,401,592.58
Including: Interest receivable
Dividend receivable 547,184.35 547,184.35
Inventories
Contractual assets
Assets held for sale
Non-current assets maturing within
one year
Other current assets 137,126.11
Total current assets 503,333,812.19 534,047,704.44
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 793,528,127.78 781,100,340.20
Investment in other equity
10,176,617.20 10,176,617.20
instrument
Other non-current financial assets
Investment real estate 28,170,379.26 29,425,213.32
Fixed assets 17,142,634.69 17,792,917.53
Construction in progress 260,999,489.22 210,072,702.40
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 47,645,805.33 48,214,014.93
Research and development costs
Goodwill
Long-term deferred expenses 8,343,141.87 8,853,627.44
Deferred income tax assets 3,398,437.68 3,398,437.68
Other non-current assets 27,041,880.66 32,375,515.49
- 45
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Total non-current assets 1,196,446,513.69 1,141,409,386.19
Total assets 1,699,780,325.88 1,675,457,090.63
Current liabilities:
Short-term borrowings
Trading financial liability
Derivative financial liability
Notes payable
Account payable 334,195.06 344,098.18
Accounts received in advance 1,929,742.08 60,656.39
Contractual liability
Wage payable 28,423,362.63 25,851,294.89
Taxes payable 2,759,307.61 1,873,430.60
Other accounts payable 462,130,705.37 471,549,476.87
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due within
one year
Other current liabilities
Total current liabilities 495,577,312.75 499,678,956.93
Non-current liabilities:
Long-term loans 121,670,407.44 86,875,874.39
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long term employee compensation
payable
Accrued liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 121,670,407.44 86,875,874.39
Total liabilities 617,247,720.19 586,554,831.32
Owners’ equity:
Share capital 431,058,320.00 431,058,320.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 428,256,131.23 428,256,131.23
Less: Inventory shares
- 46
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Other comprehensive income
Special reserve
Surplus reserve 26,546,480.09 26,546,480.09
Retained profit 196,671,674.37 203,041,327.99
Total owner’s equity 1,082,532,605.69 1,088,902,259.31
Total liabilities and owner’s equity 1,699,780,325.88 1,675,457,090.63
3. Consolidated Profit Statement
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Total operating income 250,015,152.23 249,492,261.24
Including: Operating income 250,015,152.23 249,492,261.24
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 220,692,103.94 208,332,636.82
Including: Operating cost 188,344,177.55 173,313,253.96
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance
contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras 4,269,247.42 2,614,156.04
Sales expense 10,947,318.15 12,002,312.02
Administrative expense 19,832,917.21 20,807,474.69
R&D expense
Financial expense -2,701,556.39 -404,559.89
Including: Interest
108,391.88 1,200,000.00
expenses
Interest income 2,843,386.98 1,719,072.16
Add: Other income 1,575,990.30 326,420.16
Investment income (Loss is
23,487,946.52 14,395,758.68
listed with “-”)
Including: Investment income
7,927,787.58 9,683,638.47
on affiliated company and joint venture
The termination of
income recognition for financial assets
measured by amortized cost
- 47
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Exchange income (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Income from change of fair
-617,068.50 -418,952.05
value (Loss is listed with “-”)
Loss of credit impairment
-200,149.24
(Loss is listed with “-”)
Losses of devaluation of asset
(Loss is listed with “-”)
Income from assets disposal
40,765.92 56,242.77
(Loss is listed with “-”)
III. Operating profit (Loss is listed with
53,610,533.29 55,519,093.98
“-”)
Add: Non-operating income 295,807.48 72,884.60
Less: Non-operating expense 237.72 9,945.86
IV. Total profit (Loss is listed with “-”) 53,906,103.05 55,582,032.72
Less: Income tax expense 10,808,747.89 11,085,413.51
V. Net profit (Net loss is listed with “-”) 43,097,355.16 44,496,619.21
(i) Classify by business continuity
1.continuous operating net profit
43,097,355.16 44,496,619.21
(net loss listed with ‘-”)
2.termination of net profit (net loss
listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s
43,480,236.19 44,542,715.32
of parent company
2.Minority shareholders’ gains and
-382,881.03 -46,096.11
losses
VI. Net after-tax of other comprehensive
income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
- 48
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial assets
re-classify to other comprehensive
income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currency
financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 43,097,355.16 44,496,619.21
Total comprehensive income
attributable to owners of parent 43,480,236.19 44,542,715.32
Company
Total comprehensive income
-382,881.03 -46,096.11
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.1009 0.1033
(ii) Diluted earnings per share 0.1009 0.1033
Legal Representative: Fu Chunlong
Person in charge of Accounting Works: Lou Hong
Person in charge of Accounting Institution: Lou Hong
4. Profit Statement of Parent Company
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
- 49
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
I. Operating income 12,666,278.27 19,483,635.23
Less: Operating cost 5,003,948.63 5,163,217.03
Taxes and surcharge 609,206.45 717,195.50
Sales expenses
Administration expenses 16,849,325.25 16,198,882.72
R&D expenses
Financial expenses -1,323,024.22 -671,872.77
Including: Interest
expenses
Interest income 1,330,174.79 659,566.06
Add: Other income 111,156.14
Investment income (Loss is
13,643,736.16 14,609,726.37
listed with “-”)
Including: Investment income
7,927,787.58 12,534,155.42
on affiliated Company and joint venture
The termination of
income recognition for financial assets
measured by amortized cost (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Changing income of fair value
-390,005.49 -110,023.28
(Loss is listed with “-”)
Loss of credit impairment
(Loss is listed with “-”)
Losses of devaluation of asset
(Loss is listed with “-”)
Income on disposal of assets
(Loss is listed with “-”)
II. Operating profit (Loss is listed with
4,891,708.97 12,575,915.84
“-”)
Add: Non-operating income 74,563.02 19,127.02
Less: Non-operating expense
III. Total Profit (Loss is listed with “-”) 4,966,271.99 12,595,042.86
Less: Income tax 554,379.86 54,954.66
IV. Net profit (Net loss is listed with “-”) 4,411,892.13 12,540,088.20
(i) continuous operating net profit
4,411,892.13 12,540,088.20
(net loss listed with ‘-”)
(ii) termination of net profit (net
loss listed with ‘-”)
V. Net after-tax of other comprehensive
income
(i) Other comprehensive income
items which will not be reclassified
- 50
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial assets
re-classify to other comprehensive
income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currency
financial statements
7.Other
VI. Total comprehensive income 4,411,892.13 12,540,088.20
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 233,540,881.93 255,459,153.13
services
Net increase of customer deposit
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
and interbank deposit
Net increase of loan from central
bank
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings and
investment
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in sale
and purchase of securities
Write-back of tax received 11,847,129.45
Other cash received concerning
95,434,828.86 73,388,884.28
operating activities
Subtotal of cash inflow arising from
340,822,840.24 328,848,037.41
operating activities
Cash paid for purchasing
173,793,008.62 141,066,170.40
commodities and receiving labor service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Net increase of capital lent
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 32,931,967.00 30,623,586.20
Taxes paid 48,368,592.66 20,257,855.77
Other cash paid concerning
97,047,567.37 77,329,026.02
operating activities
Subtotal of cash outflow arising from
352,141,135.65 269,276,638.39
operating activities
Net cash flows arising from operating
-11,318,295.41 59,571,399.02
activities
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
II. Cash flows arising from investing
activities:
Cash received from recovering
699,334,600.00 896,400,000.00
investment
Cash received from investment
21,775,312.96 4,969,394.03
income
Net cash received from disposal of
fixed, intangible and other long-term 361,050.00 334,000.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
721,470,962.96 901,703,394.03
activities
Cash paid for purchasing fixed,
50,916,178.95 37,930,602.45
intangible and other long-term assets
Cash paid for investment 700,000,000.00 794,280,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries
and other units obtained
Other cash paid concerning
18,669.20
investing activities
Subtotal of cash outflow from investing
750,934,848.15 832,210,602.45
activities
Net cash flows arising from investing
-29,463,885.19 69,492,791.58
activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 34,897,377.72 29,715,060.10
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
34,897,377.72 29,715,060.10
activities
Cash paid for settling debts 5,000,000.00
Cash paid for dividend and profit
11,880,454.55 9,165,434.86
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by subsidiaries
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
16,880,454.55 9,165,434.86
activities
Net cash flows arising from financing
18,016,923.17 20,549,625.24
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 280.60 -16,779.45
exchange rate
V. Net increase of cash and cash
-22,764,976.83 149,597,036.39
equivalents
Add: Balance of cash and cash
211,655,585.86 208,462,656.63
equivalents at the period -begin
VI. Balance of cash and cash equivalents
188,890,609.03 358,059,693.02
at the period -end
6. Cash Flow Statement of Parent Company
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 9,407,009.79 4,331,488.77
services
Write-back of tax received 8,332,462.70
Other cash received concerning
90,848,952.57 145,968,999.79
operating activities
Subtotal of cash inflow arising from
108,588,425.06 150,300,488.56
operating activities
Cash paid for purchasing
commodities and receiving labor service
Cash paid to/for staff and workers 16,512,716.41 14,532,885.73
Taxes paid 1,644,445.17 1,621,570.18
Other cash paid concerning
11,334,575.98 47,698,960.71
operating activities
Subtotal of cash outflow arising from
29,491,737.56 63,853,416.62
operating activities
Net cash flows arising from operating
79,096,687.50 86,447,071.94
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
550,000,000.00 269,900,000.00
investment
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Cash received from investment
20,715,948.58 2,175,570.95
income
Net cash received from disposal of
fixed, intangible and 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
570,715,948.58 272,075,570.95
activities
Cash paid for purchasing fixed,
50,177,507.00 33,234,690.43
intangible and other long-term assets
Cash paid for investment 639,500,000.00 339,000,000.00
Net cash received from subsidiaries
and other units obtained
Other cash paid concerning
200,150.00
investing activities
Subtotal of cash outflow from investing
689,677,507.00 372,434,840.43
activities
Net cash flows arising from investing
-118,961,558.42 -100,359,269.48
activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
investment
Cash received from loans 34,897,377.72 29,715,060.10
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
34,897,377.72 29,715,060.10
activities
Cash paid for settling debts
Cash paid for dividend and profit
11,880,454.55 9,116,132.76
distributing or interest paying
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
11,880,454.55 9,116,132.76
activities
Net cash flows arising from financing
23,016,923.17 20,598,927.34
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash -16,847,947.75 6,686,729.80
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
equivalents
Add: Balance of cash and cash
95,207,575.71 42,609,260.98
equivalents at the period -begin
VI. Balance of cash and cash equivalents
78,359,627.96 49,295,990.78
at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
Current Amount
Unit: RMB/CNY
Semi-annual of 2022
Owners’ equity attributable to the parent Company
Other
equity instrument Oth Tota
Less
Perp er Prov Min l
: Rea
Item Shar etua Capi com Surp isio Reta ority own
Pref Inve sona
e l tal preh lus n of ined Oth Subt inter ers’
erre ntor ble
capi capi Oth rese ensi rese gene prof er otal ests equi
d y rese
tal tal er rve ve rve ral it ty
stoc shar rve
secu inco risk
k es
ritie me
s
I. The ending 431, 431, 26,5 543, 1,43 24,2 1,45
26,4
balance of 058, 449, 46,4 843, 2,92 65,5 7,18
22.0
the previous 320. 554. 80.0 496. 4,27 52.3 9,82
year 0
00 51 9 85 3.45 5 5.80
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Enterprise
combine
under the
same control
Other
II. The 431, 431, 26,5 543, 1,43 24,2 1,45
beginning 26,4
058, 449, 46,4 843, 2,92 65,5 7,18
balance of 22.0
the current 320. 554. 80.0 496. 4,27 52.3 9,82
0
year 00 51 9 85 3.45 5 5.80
III. Increase/
Decrease in 32,6 32,6 - 32,3
the period 98,6 98,6 382, 15,8
(Decrease is 90.4 90.4 881. 09.4
listed with 4 4 03 1
“-”)
43,4 43,4 - 43,0
(i) Total
80,2 80,2 382, 97,3
comprehensi
ve income 36.1 36.1 881. 55.1
9 9 03 6
(ii) Owners’
devoted and
decreased
capital
1.Common
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
shares
invested by
shareholders
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned
into owners
equity with
share-based
payment
4. Other
- - -
10,7 10,7 10,7
(iii) Profit
81,5 81,5 81,5
distribution
45.7 45.7 45.7
5 5 5
1.
Withdrawal
of surplus
reserves
2.
Withdrawal
of general
risk
provisions
3. - - -
Distribution 10,7 10,7 10,7
for owners 81,5 81,5 81,5
(or 45.7 45.7 45.7
shareholders) 5 5 5
4. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3.
Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings
from the
defined
benefit plans
5. Carry-over
retained
earnings
from other
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
comprehensi
ve income
6. Other
(v)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(vi) Others
431, 431, 26,5 576, 1,46 23,8 1,48
IV. Balance 26,4
058, 449, 46,4 542, 5,62 82,6 9,50
at the end of 22.0
the period 320. 554. 80.0 187. 2,96 71.3 5,63
0
00 51 9 29 3.89 2 5.21
Amount of the previous period
Unit: RMB/CNY
Semi-annual of 2021
Owners’ equity attributable to the parent Company
Other
equity instrument Oth Tota
Less
Perp er Prov Min l
: Rea
Item Shar etua Capi com Surp isio Reta ority own
Pref Inve sona
e l tal preh lus n of ined Oth Subt inter ers’
erre ntor ble
capi capi Oth rese ensi rese gene prof er otal ests equi
d y rese
tal tal er rve ve rve ral it ty
stoc shar rve
secu inco risk
k es
ritie me
s
I. The ending 431, 431, 23,8 424, 1,31 74,1 1,38
26,4
balance of 058, 449, 48,4 141, 0,52 21,4 4,64
22.0
the previous 320. 554. 85.6 893. 4,67 26.3 6,10
year 0
00 51 2 34 5.47 4 1.81
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Enterprise
combine
under the
same control
Other
II. The 431, 431, 23,8 424, 1,31 74,1 1,38
beginning 26,4
058, 449, 48,4 141, 0,52 21,4 4,64
balance of 22.0
the current 320. 554. 85.6 893. 4,67 26.3 6,10
0
year 00 51 2 34 5.47 4 1.81
III. Increase/
Decrease in 35,9 35,9 - 35,8
the period 21,5 21,5 95,3 26,1
(Decrease is 48.9 48.9 98.2 50.7
listed with 2 2 1 1
“-”)
(i) Total 44,5 44,5 - 44,4
comprehensi 42,7 42,7 46,0 96,6
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
ve income 15.3 15.3 96.1 19.2
2 2 1 1
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
shareholders
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned
into owners
equity with
share-based
payment
4. Other
- - - -
(iii) Profit 8,62 8,62 49,3 8,67
distribution 1,16 1,16 02.1 0,46
6.40 6.40 0 8.50
1.
Withdrawal
of surplus
reserves
2.
Withdrawal
of general
risk
provisions
3. - - - -
Distribution
8,62 8,62 49,3 8,67
for owners
(or 1,16 1,16 02.1 0,46
shareholders) 6.40 6.40 0 8.50
4. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3.
Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings
from the
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
defined
benefit plans
5. Carry-over
retained
earnings
from other
comprehensi
ve income
6. Other
(v)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(vi) Others
431, 431, 23,8 460, 1,34 74,0 1,42
IV. Balance 26,4
058, 449, 48,4 063, 6,44 26,0 0,47
at the end of 22.0
the period 320. 554. 85.6 442. 6,22 28.1 2,25
0
00 51 2 26 4.39 3 2.52
8. Statement of Changes in Owners’ Equity (Parent Company)
Current Amount
Unit: RMB/CNY
Semi-annual of 2022
Other
Other
equity instrument Capita Less: compr Reaso Surplu Total
Item Perpet Retain
Share l Invent ehensi nable s owner
Prefer ual ed Other
capital reserv ory ve reserv reserv s’
red capital Other profit
e shares incom e e equity
stock securit e
ies
I. The ending 431,0 428,2 26,54 203,0 1,088,
balance of
58,32 56,13 6,480. 41,32 902,2
the previous
year 0.00 1.23 09 7.99 59.31
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Other
II. The
beginning 431,0 428,2 26,54 203,0 1,088,
balance of 58,32 56,13 6,480. 41,32 902,2
the current 0.00 1.23 09 7.99 59.31
year
III. Increase/
Decrease in - -
the period 6,369, 6,369,
(Decrease is 653.6 653.6
listed with 2 2
“-”)
(i) Total 4,411, 4,411,
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
comprehensi 892.1 892.1
ve income 3 3
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
shareholders
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned
into owners
equity with
share-based
payment
4. Other
- -
(iii) Profit 10,78 10,78
distribution 1,545. 1,545.
75 75
1.
Withdrawal
of surplus
reserves
2. - -
Distribution
10,78 10,78
for owners
(or 1,545. 1,545.
shareholders) 75 75
3. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3.
Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings
from the
defined
benefit plans
5. Carry-over
retained
earnings
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
from other
comprehensi
ve income
6. Other
(v)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(vi) Others
IV. Balance 431,0 428,2 26,54 196,6 1,082,
at the end of 58,32 56,13 6,480. 71,67 532,6
the period 0.00 1.23 09 4.37 05.69
Amount of the previous period
Unit: RMB/CNY
Semi-annual of 2021
Other
Other
equity instrument Capita Less: compr Reaso Surplu Total
Item Perpet Retain
Share l Invent ehensi nable s owner
Prefer ual ed Other
capital reserv ory ve reserv reserv s’
red capital Other profit
e shares incom e e equity
stock securit e
ies
I. The ending 431,0 428,2 23,84 187,3 1,070,
balance of
58,32 56,13 8,485. 80,54 543,4
the previous
year 0.00 1.23 62 4.20 81.05
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Other
II. The
beginning 431,0 428,2 23,84 187,3 1,070,
balance of 58,32 56,13 8,485. 80,54 543,4
the current 0.00 1.23 62 4.20 81.05
year
III. Increase/
Decrease in 3,918, 3,918,
the period
921.8 921.8
(Decrease is
listed with 0 0
“-”)
(i) Total 12,54 12,54
comprehensi 0,088. 0,088.
ve income 20 20
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
shareholders
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned
into owners
equity with
share-based
payment
4. Other
- -
(iii) Profit 8,621, 8,621,
distribution 166.4 166.4
0 0
1.
Withdrawal
of surplus
reserves
2. - -
Distribution
8,621, 8,621,
for owners
(or 166.4 166.4
shareholders) 0 0
3. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3.
Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings
from the
defined
benefit plans
5. Carry-over
retained
earnings
from other
comprehensi
ve income
6. Other
(v)
Reasonable
reserve
1.
Withdrawal
in the report
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
period
2. Usage in
the report
period
(vi) Others
IV. Balance 431,0 428,2 23,84 191,2 1,074,
at the end of 58,32 56,13 8,485. 99,46 462,4
the period 0.00 1.23 62 6.00 02.85
II. Company information
1. Company profile
Shenzhen Tellus Holding Co., Ltd. (hereinafter referred to as the Company or Company) is a limited company that
reorganized and established from former Shenzhen Machinery Industry Company, as authorized by the reply
relating to Shenzhen Machinery Industry Company transforming to Shenzhen Testrite Machinery Co.,
Ltd(SFBF[1991]1012) issued by the Office of Shenzhen People Government, registered in Shenzhen
Administration for Industry & Commerce on November 10, 1986. The Company holds a business license with
unified social credit code of 91440300192192210U, and with a registered capital of RMB431,058,320.00 and a
total number of 431,058,320 shares, including unrestricted outstanding 392,778,320 shares (A-stock) and
38,280,000 shares (B-stock). Operating address of the HQ located at 3/F, 4/F, Tellus Building, Shuibei Er Road,
Luohu District, Shenzhen. Legal representative: Fu Chunlong.
In 1993, as authorized by the reply relating to Shenzhen Testrite Machinery Co., Ltd. transforming to a public
company (SFBF[1992]1850) issued by the Office of Shenzhen People Government and the reply relating to issuance
of stocks by Shenzhen Testrite Machinery and Electric Co., Ltd. (SRYFZ[1993]092) issued by Shenzhen branch of
People’s Bank of China, the Company changed to be a public company and made the initial public offering.
Registered capital amounting to RMB 166,880,000.00 with a total share capital of 166,880,000 shares, among which,
120,900,000 shares were converted from the original assets and 25,980,000 shares (A-stock) and 20,000,000 shares
(B-stock) were issued. Par value of the shares is RMB 1 per share. On June 21, 1993, shares of the Company were
listed for trading on Shenzhen Stock Exchange.
According to the resolution of Annual General Meeting of 1993, on the basis of 166,880,000 shares as of December
31 of that year, 2 shares for every 10 shares and a cash dividend of 0.5 yuan per 10 shares were distributed to all
shareholders, totaling 33,376,000 shares distributed and was implemented in 1994. Registered capital of the
Company increased to RMB 200,256,000.00 after the share distribution.
According to the resolution of Annual General Meeting of 1994, on the basis of 200,256,000 shares as of December
31 of that year, 0.5 shares for every 10 shares and 0.5 shares transferred, and a cash dividend of 0.5 yuan per 10
shares were distributed to all shareholders, totaling 20,025,600 shares transferred and was implemented in 1995.
Registered capital of the Company increased to RMB 220,281,600.00 after the share transferred and distribution.
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
According to the resolution of 4th extraordinary general meeting of shareholders of 2014, and approved by the
“Reply on the Non-Public Offering of Shares of Shenzhen Tellus Holding Co., Ltd.”(Securities Regulatory License
[2015] No.173) from China Securities Regulatory Commission, the Company offering ordinary A stock of
77,000,000 shares to Shenzhen Special Development Group Co., Ltd and Shenzhen Yuanzhi Fuhai Jewelry Industry
Investment Enterprise (Limited Partnership) non-publicly in 2015. Register capital of the Company increased to
RMB 297,281,600.00 after the shares increased.
According to the resolution of Annual General Meeting of 2018, on the basis of 297,281,600 shares as of December
31 of that year, transferred 4.5 shares for every 10 shares to all shareholders from the capital surplus,
totaling133,776,720 shares transferred and was implemented in 2019. Registered capital of the Company increased
to RMB 431,058,320.00 after the transferred.
Main business of the Company including auto sales, auto maintenance and inspection, sales of jewelry and property
leasing and services, etc.
Approval date of the financial statement: the financial statements were approved by the Board on August 24, 2022.
2. Scope and change of the consolidate financial statement
(1)subsidiary included in the consolidate statement at end of the Period
No. Subsidiary Abbreviations Shareholding ratio %
Directly Indirectly
1 Shenzhen Tellus Xinyongtong Automobile Xinyongtong Automobile 5.00 95.00
Development Co. Ltd Development Company
2 Shenzhen Bao’an Shiquan Industrial Co., Ltd. Bao’an Shiquan Company 100.00
3 Shenzhen SDG Tellus Real Estate Co., Ltd. Tellus Real Estate Company 100.00
4 Shenzhen Tellus Chuangying Tech. Co., Ltd. Chuangying Company 100.00
5 Shenzhen Xinyongtong Auto Vehicle Inspection Inspection Equipment 51.00
Equipment Co., Ltd. Company
6 Shenzhen Auto Industry and Trade Corporation Auto Industry and Trade 100.00
Company
7 Shenzhen Automotive Industry Supply Corporation Automotive Supply 100.00
Corporation
8 Shenzhen SDG Huari Auto Enterprise Co., Ltd. Huari Company 60.00
9 Shenzhen Huari Anxin Automobile Inspection Ltd. Huari Anxin Company 100.00
10 Shenzhen Zhongtian Industrial Co,. Ltd. Zhongtian Company 100.00
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
11 Shenzhen Huari TOYOTA Automobile Sales Service Huari Toyota 60.00
Co., Ltd.
12 Shenzhen Tellus Treasury Supply Chain Tech. Co., Treasury Supply Chain 100.00
Ltd. Company
13 Shenzhen Jewelry Industry Service Co., LTD Shenzhen Jewelry Company 65.00
14 Shanghai Fanyue Diamond Co., Ltd. Shanghai Fanyue 100.00
Found more in the NoteⅧ.“Equity in other entity”
III. Basis Preparation of the Financial Statements
1.Preparation basis
The Company’s financial statements have been prepared based on the going concern and the actual transactions and
events. And recognized and measured in accordance with the provisions of the ASBE and its application guidelines
and interpretations of the standards. Furthermore, the Company discloses relevant financial information in
accordance with the “Regulation on the Preparation of Information Disclosures of Companies Issuing Public
Shares, No. 15- General Provision on Financial Reports”(Revised in 2014) of China Securities Regulatory
Commission.
2. Going concern
The Company has assessed its ability to continue as a going concerned for the 12 months since end of the reporting
period, and there are no matters affecting the ability to continue as a going concern being found. It is reasonable for
the Company to prepare the financial statements on a going concern basis.
IV. Important accounting policy & accounting estimation
Specific accounting policies and estimation attention:
The following important accounting policies and estimation are formulated in line with the Accounting Standards
for Business Enterprises(ASBE). The business without mentioned are carried out in accordance with the relevant
accounting policies of ASBEs.
1. Statement of Compliance with the Accounting Standards for Business Enterprises
The Financial Statements are up to requirements of Accounting Standards for Business Enterprises, and reflect the
financial status, operation results, changes of owners equity and cash flows of the Company in reporting period in
truthfulness and completeness.
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2. Accounting period
Accounting period of the Company is falls to the range starting from 1 January to 31 December.
3. Operating cycle
The normal operating cycle of the Company is one year.
4. Standard currency
The recording currency of the Company is Renminbi(RMB/CNY)
5. Accounting treatment methods of business combination under the same control and not under the same
control
(1) Business combination under the same control
The assets and liabilities acquired by the Company in the business combination shall be measured at the book value
of the combined party in the consolidated financial statements of the final controlling party on the date of
combination. Among them, if the accounting policies adopted by the combined party and the Company before the
business combination are different, the accounting policies shall be unified based on the importance principle, that
is, the book value of the assets and liabilities of the combined party shall be adjusted according to the accounting
policies of the Company. If there is a difference between the book value of the net assets acquired in the business
combination and the book value of the consideration paid by the Company, the Company shall first adjust the capital
reserve (capital premium or equity premium). If the balance of the capital reserve (capital premium or equity
premium) is insufficient to offset, the surplus reserve and undistributed profit shall be offset successively.
For the accounting treatment of a business combination under the same control through step-by-step transactions,
please see Notes Ⅳ. 6.
(2) Business combination not under the same control
The identifiable assets and liabilities of the acquiree acquired by the Company in the business combination shall be
measured at their fair value on the purchase date. Among them, if the accounting policies adopted by the acquiree
and the Company before the business combination are different, the accounting policies shall be unified based on
the materiality principle, that is, the book value of the assets and liabilities of the acquiree shall be adjusted according
to the accounting policies of the Company. The difference between the combined cost of the Company on the
acquisition date and the fair value of the identifiable assets and liabilities of the acquiree acquired by the purchaser
in the business combination shall be recognized as goodwill; if the combined cost is less than the difference of fair
value of the identifiable assets and liabilities of the acquiree acquired in the business combination, first of all, the
combined cost and the fair value of the identifiable assets and liabilities of the acquiree acquired in the business
combination shall be reviewed, after review, if the combined cost is still less than the fair value of the identifiable
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assets and liabilities of the acquiree, the difference shall be recognized as consolidated profits and losses for the
current period.
For the accounting treatment of a business combination not under the same control through step-by-step transactions,
please see Notes Ⅳ. 6.
(3) Disposal of transaction costs in business combination
The intermediary fees for auditing, legal services, evaluation and consultation and other related administrative
expenses incurred for the business combination shall be recorded into the current profits and losses when incurred.
Transaction costs of equity securities or debt securities issued as consideration for the merger are included in the
initial recognition amount of the equity securities or debt securities.
6. Methods for preparation of consolidated financial statements
(1) Determination of the consolidated scope
The consolidated scope of the consolidated financial statements is determined on the basis of control, including not
only subsidiaries as determined by voting rights (or similar voting rights) on their own or in combination with other
arrangements, but also structured entities as determined by one or more contractual arrangements.
Control means that the Company has the power over the investee, enjoys variable returns by participating in related
activities of the investee, and has the ability to use the power over the investee to influence the amount of return. A
subsidiary is an entity under the control of the Company (including the separable part of an enterprise and an
invested entity, and the structured entity controlled by the enterprise, etc.), a structured entity is one that is designed
without taking the right to vote or similar rights as a determining factor when determining its controlling party (Note:
sometimes it is also known as the entity of special purpose).
(2) Special provisions on the parent company being an investment entity
If the parent company is an investment entity, only those subsidiaries that provide relevant services for the
investment activities of the investment entity will be included in the consolidation scope, and other subsidiaries will
not be merged. Equity investors of the subsidiaries that are not included in the consolidation scope are recognized
as financial assets measured at fair value and their changes are recorded in the profits and losses of current period.
When the parent company simultaneously satisfies the following conditions, the parent company is an investment
entity:
① The company obtains funds from one or more investors for the purpose of providing investment management
services to investors.
② The sole purpose of the company's operation is to provide returns to investors through capital appreciation,
investment income, or both.
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③ The company considers and evaluates the performance of almost all investments in accordance with the fair
value.
When the parent company changes from the non-investment entity into the investment entity, except only include
the subsidiaries providing related services for their investment activities into the scope of consolidated financial
statements, the company no longer merge other subsidiaries since the change day, and deal with according to the
principle of disposing subsidiary equity but not losing the right of control.
When the parent company changes from the investment entity into the non-investment entity, the subsidiary
originally not included in the scope of consolidated financial statements shall be included into the scope of
consolidated financial statements on the change day, the fair value of the subsidiary originally not included in the
scope of consolidated financial statements on the change day shall be regarded as the trading consideration of
purchase, and deal with according to the accounting treatment method for business combination not under the same
control.
(3) Preparation method of consolidated financial statements
The Company shall, on the basis of its own financial statements and those of its subsidiaries, prepare consolidated
financial statements in accordance with other relevant information.
When preparing consolidated financial statements, the Company shall regard the entire enterprise group as an
accounting entity, and reflect the overall financial position, operating results and cash flow of the enterprise group
in accordance with the requirements of recognition, measurement and presentation of relevant accounting standards
for enterprises, and in accordance with unified accounting policies and accounting periods.
① Merge the assets, liabilities, owners' equity, revenues, expenses and cash flows of the parent company and its
subsidiaries.
② Offset the parent company's long-term equity investment in the subsidiary and the parent company's share in the
owner's equity of the subsidiary.
③ Offset the impact of internal transactions between the parent company and its subsidiaries and among the
subsidiaries. Where the internal transaction indicates the impairment loss of the relevant assets, the loss shall be
recognized in full.
④ Adjust special transactions from the perspective of enterprise groups.
(4) Disposal of increase or decrease in subsidiaries during the reporting period
① Increase subsidiaries or businesses
A. A subsidiary or business increased by the business merger under the same control
(a) When preparing the consolidated balance sheet, the opening balance of the consolidated balance sheet shall be
adjusted, and the relevant items in the comparative statement shall be adjusted, so that the consolidated reporting
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entity shall be deemed to have been in existence since the beginning of the control by the final controlling party.
(b) When preparing the consolidated income statement, the revenues, expenses and profits of the subsidiary and its
business combination from the beginning of the current period to the end of the reporting period shall be included
in the consolidated income statement, and relevant items in the comparative statement shall be adjusted, so that the
consolidated reporting entity shall be deemed to have been in existence since the beginning of the control by the
final controlling party.
(c) When preparing the consolidated cash flow statement, the cash flow of the subsidiary and the business
combination from the beginning of the current period to the end of the reporting period shall be included in the
consolidated cash flow statement, and the relevant items in the comparative statement shall be adjusted, so that the
consolidated reporting entity shall be deemed to have been in existence since the beginning of the control by the
final controlling party.
B. A subsidiary or business added by a business combination not under the same control
(a) The opening balance of the consolidated balance sheet shall not be adjusted when preparing the consolidated
balance sheet.
(b) When preparing the consolidated income statement, the income, expenses and profits of the subsidiary and the
business from the purchase date to the end of the reporting period shall be included in the consolidated income
statement.
(c) When preparing the consolidated cash flow statement, the cash flow of the subsidiary from the purchase date to
the end of the reporting period shall be included in the consolidated cash flow statement.
② Disposal of subsidiaries or businesses
A. The opening balance of the consolidated balance sheet shall not be adjusted when preparing the consolidated
balance sheet.
B. When preparing the consolidated income statement, the income, expenses and profits of the subsidiary and the
business from the beginning of the period to the disposal date shall be included in the consolidated income statement.
C. The cash flows of the subsidiary and the business from the beginning of the period to the disposal date shall be
included in the consolidated cash flow statement when preparing the consolidated cash flow statement.
(5) Special considerations in the merger offset
① The long-term equity investment of the Company held by a subsidiary shall be regarded as the treasury shares
of the Company and listed as "deduct: treasury share" in the consolidated balance sheet under the owner's equity
item as a deduction of the owner's equity. The long-term equity investments held by the subsidiaries shall offset
against their respective shares in the owner's equity of the subsidiaries in accordance with the method used by the
Company to offset the equity investments in the subsidiaries.
② "Special reserve" and "general risk reserve" are not paid-up capital (or equity) or capital reserves, and are
different from retained earnings and undistributed profits. After the long-term equity investment and the owner's
equity of the subsidiary offset each other, the "special reserve" and "general risk reserve" shall be restored according
to the share belonging to the owner of the parent company.
③Where the offsetting of unrealized internal sales gains and losses results in temporary differences between the
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carrying value of assets and liabilities in the consolidated balance sheet and the tax base of their taxable entity, the
deferred income tax assets or deferred income tax liabilities shall be recognized in the consolidated balance sheet,
at the same time, the income tax expenses in the consolidated income statement shall be adjusted, except for the
deferred income taxes related to the transactions or events directly included in the owner's equity and the business
combination.
④The profit and loss of the unrealized internal transaction incurred by the Company in selling assets to subsidiaries
shall fully offset against the "net profit attributable to the owner of the parent company". The profit and loss of the
unrealized internal transaction arising from the sale of assets by a subsidiary to the Company shall be distributed
and offset between the "net profit attributable to the owner of the parent company" and the "minority shareholders'
profit and loss" in accordance with the proportion distributed by the Company to the subsidiary. The profit and loss
of the unrealized internal transaction arising from the sale of assets among subsidiaries shall be distributed and
offset between "net profit attributable to the owner of the parent company" and "minority shareholders' profit and
loss" in accordance with the distribution ratio of the Company to the subsidiaries of the seller.
⑤If the current loss shared by the minority shareholders of the subsidiary exceeds the minority shareholders' share
in the initial owner's equity of the subsidiary, the balance shall still be offset against the shareholders' equity.
(6) Accounting treatment of special transactions
① Purchase minority shareholder equity
When the Company purchases the equity of a subsidiary owned by the minority shareholder of the subsidiary, the
investment cost of the long-term equity investment newly acquired through the purchase of minority equity shall be
measured according to the fair value of the consideration paid in individual financial statements. In the consolidated
financial statements, the difference between the newly acquired long-term equity investment due to the purchase of
a minority stake and the share of the net assets of the subsidiary calculated continuously from the purchase date or
merger date according to the new shareholding ratio should adjust the capital reserves (capital premium or stock
premium), if the capital reserves are insufficient to offset, the surplus reserves and undistributed profits shall be
offset in turn.
② Obtaining the control of the subsidiary step by step through multiple transactions
A. Realizing business combination under the same control step by step through multiple transactions
On the merger date, the Company shall determine the initial investment cost of long-term equity investment in the
individual financial statements according to the share of the net assets of the subsidiaries that shall be enjoyed after
the merger in the book value of the consolidated financial statements of the ultimate controlling party; The difference
between the initial investment cost and the book value of the long-term equity investment before the merger plus
the book value of the new payment consideration for further shares acquired on the merger date shall adjust capital
reserves (capital premium or stock premium), if the capital reserves are insufficient to offset, the surplus reserves
and undistributed profits shall be offset in turn.
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In the consolidated financial statements, the assets and liabilities of the merged party acquired by the merging party
during the merger shall be measured according to the book value in the consolidated financial statements of the final
controlling party on the merger date, except for the adjustments made due to different accounting policies; The
difference between the sum of the book value of the investment held before the merger plus the book value of the
consideration paid on the date of merger and the book value of the net assets acquired during the merger shall adjust
the capital reserves (equity premium/capital premium), and adjust the retained earnings if the capital reserves are
insufficient to offset.
Where the equity investment held by the merging party prior to the acquisition of control of the merged party are
accounted for according to the equity method, the changes in relevant profit or loss, other comprehensive income
and other owners' equity that has been recognized between the date on which the original equity was acquired and
the date on which the merging party and the merged party are in the final control of the same party shall respectively
offset against the retained earnings at the beginning of the comparative statement period.
B. Realization of business combination under different control step by step through multiple transactions
On the merger date, in the individual financial statements, the initial investment cost of the long-term equity
investment on the merger date shall be the sum of the book value of the original long-term equity investment plus
the new investment cost on the merger date.
In the consolidated financial statements, the equity of the acquiree held before the purchase date shall be re-
measured according to the fair value of the equity on the purchase date, and the difference between the fair value
and the book value shall be recorded into the investment income of the current period; If the equity held by the
acquiree prior to the purchase date involves other comprehensive income under the equity method, the relevant
other comprehensive income shall be converted to the current income on the purchase date, except other
comprehensive income generated by the change in net assets or net liabilities of the benefit plan set by the merged
party. In the notes, the Company shall disclose the fair value on the purchase date of the equity held by the company
prior to the purchase date and the amount of relevant gains or losses generated by re-measurement in accordance
with the fair value.
③ The Company disposes of its long-term equity investment in its subsidiaries without losing control
Where the parent company partially disposes of its long-term equity investment in a subsidiary without losing
control, in the consolidated financial statements, the difference between the disposal cost and the subsidiary's share
of the net assets calculated continuously from the purchase date or the merger date corresponding to the disposal of
the long-term equity investment shall adjust the capital reserves (capital premium or stock premium), if the capital
reserves is insufficient to offset, adjust the retained earnings.
④ The Company disposes of its long-term equity investment in its subsidiaries and loses control
A. One transaction disposal
Where the Company loses the control of the investee due to the disposal of some equity investments and other
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reasons, the remaining equity shall be remeasured according to the fair value of the equity at the date of loss of
control when the consolidated financial statements are prepared. The sum of the consideration obtained from the
disposal of the equity and the fair value of the remaining equity minus the difference between the shares of the net
assets of the original subsidiary which should be continuously calculated from the purchase date or merger date
according to the original shareholding ratio shall be included into the investment income of the current period when
the control right is lost.
Other comprehensive income and changes in other owners' equity related to the equity investment of the original
subsidiary shall be transferred to the current profit and loss when the control right is lost, except other comprehensive
income generated by changes in net liabilities or net assets of the benefit plan set by the investee.
B. Multiple transactions handled in steps
In the consolidated financial statements, we should first judge whether the step transaction is a "package transaction".
If the step transaction does not belong to the "package transaction", in the individual financial statements, each
transaction before the loss of control of the subsidiary shall be carried forward with the book value of the long-term
equity investment corresponding to the each disposal of equity, and the difference between the income price and the
book value of the disposal of the long-term equity investment shall be included in the current investment income;
In the consolidated financial statements, the relevant provisions of "the parent company disposes of its long-term
equity investment in the subsidiary without losing control" shall be followed.
If the step transaction is a "package transaction", each transaction shall be accounted for as a transaction for the
disposal of the subsidiary and loss of control; In the individual financial statements, the difference between each
disposal price before the loss of control and the book value of the long-term equity investment corresponding to the
disposed equity shall be first recognized as other comprehensive income, and then transferred to the current profit
and loss of the lost control when the control right is lost; In the consolidated financial statements, for each transaction
before the loss of control, the difference between the disposal price and the disposal investment corresponding to
the share of the subsidiary's net assets shall be recognized as other comprehensive income, which shall be transferred
to the profit and loss of the current period at the time of loss of control.
Multiple transactions are usually accounted for as "package transactions" where the terms, conditions and economic
impact of the transactions meet one or more of the following conditions:
(a) The transactions were concluded at the same time or with consideration for their mutual impact.
(b) The transactions as a whole are required to achieve a complete commercial outcome.
(c) The occurrence of one transaction depends on the occurrence of at least one other transaction.
(d) A transaction is not economic when considered in isolation, but it is economic when considered in conjunction
with other transactions.
⑤ The proportion of equity owned by the parent company is diluted due to the capital increase by minority
shareholders of subsidiary
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The other shareholders (minority shareholders) of the subsidiary increase the capital of the subsidiary, thus diluting
the shareholding ratio of the parent company to the subsidiary. In the consolidated financial statements, the share of
the parent company in the book net assets of the subsidiary before the capital increase shall be calculated according
to the proportion of the parent company's equity before the capital increase, and the difference between this share
and the share of book net assets of the subsidiary after capital increase calculated according to the shareholding ratio
of the parent company shall adjust the capital reserve (capital premium or stock premium), if the capital reserves is
insufficient to offset, adjust the retained earnings.
7. Classification of joint venture arrangement and accounting for joint operations
The joint venture arrangement is an arrangement under the common control of two or more participants. Joint
venture arrangement of the Company are classified as joint operations and joint ventures.
(1) Joint operations
The joint operation is a joint arrangement in which the Company enjoys the assets and bears the liabilities
associated with such arrangement.
The Company recognizes the following items that related to its shares of interest in a joint operation and accounts
for them in accordance with the provisions of the Accounting Standards for Business Enterprises (ASBE):
① To recognize separately-held assets and jointly-held assets under its proportion;
②To recognize separately-assumed liabilities and jointly-assumed liabilities under its proportion;
③To recognize revenue from disposal of the output which the Company is entitled to under the proportion;
④To recognize revenue from disposal of the output under the proportion;
⑤To recognize separately occurred expenses, and to recognize expenses occurred for joint operations under its
proportion.
(2) Joint venture
A joint venture is a joint venture arrangement in which the Company has rights only to the net assets of such
arrangement.
The Company accounts for its investments in joint ventures in accordance with the regulations of the equity method
of the long-term equity investment.
8. Recognition standards for cash and cash equivalents
Cash refers to the enterprise’s cash on hand and deposits that are readily available for disbursement. The cash
equivalents are investments that are held for a short period of time (generally maturing within three months from
the date of purchase), are highly liquid, are easily convertible to known amounts of cash, and are subject to an
insignificant risk of changes in value.
9. Foreign currency business and conversion of foreign currency statement
(1) Method of determining the conversion rate for foreign currency transactions
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For the initial recognition of foreign currency transactions, the Company shall convert to the standard currency for
accounting at the spot rate on the date of the transaction or at the exchange rate (hereinafter referred to as the
approximate exchange rate of spot rate) determined in accordance with a systematic and reasonable method and
similar to the spot rate on the date of the transaction.
(2) Conversion method of foreign currency monetary items on the balance sheet date
On the balance sheet date, the spot rate on the balance sheet date is used for conversion for foreign currency
monetary items. The exchange difference resulting from the difference between the spot exchange rate on the
balance sheet date and the spot exchange rate at the initial recognition or the previous balance sheet date shall be
booked into the profit and loss of the current period. For foreign currency non-monetary items measured at historical
cost, the spot exchange rate on the transaction date is still used for conversion; The foreign currency non-monetary
items measured at fair value shall be converted at the spot exchange rate on the date on which the fair value is
determined, and the difference between the amount of the standard currency for accounting after conversion and the
amount of the original standard currency for accounting shall be recorded into the profits and losses of the current
period.
10. Financial instruments
The financial instrument is a contract that forms a financial asset of one party and creates a financial liability or
equity instrument of another party.
(1) Recognition and terminate of recognition for a financial instrument
When the Company becomes a party to a financial instrument contract, the relevant financial assets or liabilities are
recognized.
A financial asset is terminate for recognition when one of the following conditions is met:
①the contractual rights to receive the cash flow of such financial assets are terminated:
②the financial assets have been transferred and the following conditions for derecognition of transfer of such
financial assets are met.
Where the current obligation of a financial liability (or any part thereof) has been terminated, the recognition of the
financial liability (or the part of the financial liability) shall be terminated. If the Company (borrower) and the lender
sign an agreement to replace the original financial liabilities by assuming new financial liabilities, and the contract
terms of the new financial liabilities and the original financial liabilities are substantially different, the recognition
of the original financial liabilities shall be terminated and the new financial liabilities shall be recognized at the
same time. If the Company materially modifies the contract terms of the original financial liability (or any part
thereof), the original financial liability shall be terminated, and at the same time a new financial liability shall be
recognized in accordance with the modified terms.
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Accounting recognition and termination of recognition are made on the trading day for buying and selling of
financial assets in the normal way. Conventional buying and selling of financial assets means that the financial
assets are delivered in accordance with the terms of the contract and on a schedule determined by regulation or
market practice. "Trading day" means the date on which the Company commits to buy or sell financial assets.
(2) Classification and measurement of financial assets
In the initial recognition, the Company classifies the financial assets as financial assets measured at the amortized
cost, financial assets measured at fair value and the changes are recorded into the profits and losses of the current
financial assets, and financial assets measured at fair value and the changes are included in the financial assets of
other comprehensive income according to the business model for managing financial assets and the contractual cash
flow characteristics of the financial assets. Financial assets shall not be reclassified after initial recognition unless
the Company changes its business model for managing financial assets, in which case all affected relevant financial
assets shall be reclassified on the first day of the first reporting period following the change in business model.
Financial assets are measured at fair value when they are initially recognized. For the financial assets measured at
fair value and whose changes are included in the current profits and losses, the related transaction costs are directly
included in the current profits and losses, and the related transaction costs of other types of financial assets are
included in the initially recognized amount. For notes receivable and accounts receivable that are generated by the
sale of goods or the rendering of services and do not include or take into account a material financing component,
the Company will initially measure them in accordance with the transaction price as defined by the revenue
standards.
Subsequent measurement of financial assets depends on their classification:
① Financial assets measured at amortized cost
Financial assets simultaneously meet the following conditions are classified as financial assets measured at
amortized cost. The Company's business model for managing the financial assets is to collect contract cash flows;
the contract terms of the financial assets stipulate that the cash flows generated at a specific date are only payment
of principal and interest based on the amount of outstanding principal. For such financial assets, the effective interest
method is used for follow-up measurement by the amortized cost, and its termination of recognition, and the profit
or loss arising from amortization and impairment by the effective interest rate method are included in the profits
and losses of the current period.
② Financial assets measured at fair value and their changes are included in other comprehensive income
Financial assets simultaneously meet the following conditions are classified as financial assets measured at fair
value and whose changes are included in other comprehensive income. The Company's business model for
managing the financial assets is not only to collect contract cash flows but also to sell the financial asset; the
contractual terms of the financial assets stipulate that the cash flows generated at a specific date are only payment
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of principal and interest on the amount of outstanding principal. For such financial assets, the fair value is used for
subsequent measurement. Except the impairment loss or gain and the exchange gain or loss are recognized as current
profits and losses, the changes in fair value of such financial assets are recognized as other comprehensive income
until the termination of recognition of the financial assets, the accumulated gains or losses are transferred into the
current profits and losses. However, the relevant interest income of the financial asset calculated by using the
effective interest rate method is included in the profit and loss of the current period.
The Company irrevocably select part of non-transactional equity instrument investment to be designated as financial
assets measured at fair value and whose changes are included in other comprehensive income, only the relevant
dividend income is recorded into the profits and losses of the current period, fair value changes are recognized as
other comprehensive income, and the cumulative profits or losses are transferred into retained earnings until the
termination of recognition of the financial assets.
③ Financial assets measured at fair value and whose changes are included in current profits and losses
Financial assets in addition to the above financial assets measured at amortized cost and financial assets measured
at fair value and whose changes are included in other comprehensive income are classified as financial assets
measured at fair value and whose changes are included in current profits and losses. For such financial assets, the
fair value is used for subsequent measurement, and all changes in fair value are included in the current profits and
losses.
(3) Classification and measurement of financial liabilities
The Company classifies the financial liabilities as financial liabilities measured at fair value and whose changes are
included in the profits and losses of the current period, loan commitment and financial guarantee contract liabilities
below market interest rate loans, and financial liabilities measured at amortized cost.
The subsequent measurement of a financial liability depends on its classification:
① Financial liabilities measured at fair value and whose changes are included in the profits and losses of the current
period
Such financial liabilities include tradable financial liabilities (including derivatives belonging to financial liabilities)
and financial liabilities designated to be measured at fair value and whose changes are included in current profits
and losses. After initial recognition, the fair value is used for subsequent measurement for such financial liabilities.
Except for those related to the hedge accounting, the profits or losses (including interest expense) generated are
recorded into the current profits and losses. However, for the financial liabilities designated by the Company to be
measured at fair value and whose changes are included in the profits and losses of the current period, the amount of
changes in the fair value of the financial liabilities caused by changes in its own credit risk is included in other
comprehensive income, at the termination of recognition of the financial liabilities, the accumulated gains and losses
previously included in other comprehensive income shall be transferred from other comprehensive income and
included in retained earnings.
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② Loan commitment and financial guarantee contract liabilities
A loan commitment is an undertaking provided by the Company to the customer to issue a loan to the customer
within the commitment period on the terms of the established contract. The impairment loss of the loan commitment
is set down in accordance with the expected credit loss model.
A financial guarantee contract is a contract that requires the Company to pay a specified amount of money to the
contract holder who suffers a loss when the particular debtor is unable to pay the debt in accordance with the original
or modified terms of the debt instrument at maturity. Financial guarantee contract liabilities shall be measured in
accordance with the impairment principle of financial instruments determined in accordance with the loss provision
and initial recognition of the amount of the balance of the accumulated amortization determined in accordance with
the income recognition principle.
③ Financial liabilities measured at amortized cost
After initial recognition, other financial liabilities are measured at amortized cost by using the effective interest rate
method.
Except in special circumstances, financial liabilities and equity instruments are distinguished according to the
following principles:
① A contractual obligation meets the definition of a financial liability if the Company cannot unconditionally refrain
from performing it by paying cash or other financial assets. Although some financial instruments do not explicitly
contain terms and conditions for the obligation to deliver cash or other financial assets, it is possible to indirectly
form contractual obligations through other terms and conditions.
② If a financial instrument has to use or can use the Company's own equity instrument for settlement, consideration
needs to be given to whether the Company's own equity instrument used to settle the instrument is to be used as a
substitute for cash or other financial assets or to give the owner of the instrument a residual interest in the issuer's
assets after all liabilities have been deducted. In the former case, the instrument is a financial liability of the issuer;
In the latter case, the instrument is an equity instrument of the issuer. In some cases, a financial instrument contract
requires that the Company has to use or can use its own equity instrument to settle the financial instrument, of which
the amount of contractual rights or contractual obligations is equal to the number of its own equity instruments
available or delivered multiplying its fair value at the settlement, no matter the amount of the contract rights or
obligations are fixed or are based, in whole or in part, on changes in variables (such as interest rates, the price of a
commodity or the price of a financial instrument) other than the market price of the Company’s own equity
instruments, the contract is classified as a financial liability.
(4) Derivative financial instruments and embedded derivative instruments
Derivative financial instruments are initially measured at the fair value of the date on which the derivative
transaction contract is signed, and are subsequently measured at their fair value. A derivative financial instrument
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with a positive fair value is recognized as an asset; and a derivative financial instrument with a negative fair value
is recognized as a liability.
Except the effective part of the hedge in the cash flow hedging is included in other comprehensive income and
transferred out into the current profit and loss when the hedged item affects the profit and loss, the profit or loss
generated by the change of the fair value of the derivative instrument shall be directly included in the profits and
losses of the current period.
For hybrid instruments containing embedded derivatives, if the main contract is a financial asset, the hybrid
instruments as a whole apply to the relevant provisions on the classification of financial assets. If the main contract
is not a financial asset, and the hybrid instruments are not measured at fair value and the changes are recorded into
the current profits and losses for accounting treatment, the embedded derivatives have no close relationship with
the main contract in economic characteristics and risks, and the instrument with the same conditions as the
embedded derivatives and existing alone satisfies the definition of derivatives, the embedded derivatives shall be
split from the hybrid instruments and handled as an individual derivative financial instrument. If the fair value of
the embedded derivative on the acquisition date or on the subsequent balance sheet date cannot be measured
separately, the hybrid instruments as a whole shall be designated as a financial asset or financial liability measured
at fair value and whose changes are recorded in the profits and losses of the current period.
(5) Impairment of financial instruments
For financial assets measured at amortized cost, debt investment measured at fair value and whose changes are
included in other comprehensive income, contract assets, lease receivables, loan commitments and financial
guarantee contract, the Company recognizes loss provisions on the basis of expected credit losses.
① Measurement of expected credit losses
Expected credit loss refers to the weighted average of the credit loss of a financial instrument weighted by the risk
of default. Credit loss refers to the difference between all contractual cash flows receivable under the contract and
all cash flows expected to be received by the Company discounted at the original effective interest rate, namely, the
present value of all cash shortfalls. Among them, the financial assets purchased or generated by the Company which
have credit impairment shall be discounted according to the credit adjusted effective interest rate of the financial
assets.
The expected credit loss over the entire duration refers to the expected credit loss due to all possible default events
that may occur during the entire expected duration of a financial instrument.
Expected credit loss in the next 12 months refers to the expected credit loss resulting from the default event of a
financial instrument that may occur within 12 months after the balance sheet date (or the expected duration if the
expected duration of the financial instrument is less than 12 months), and is a part of the expected credit loss over
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the entire duration.
At each balance sheet date, the Company measures the expected credit losses of financial instruments at different
stages of development separately. If the credit risk of the financial instrument has not increased significantly since
the initial recognition, it shall be in the first stage and the Company shall measure the loss provisions according to
the expected credit loss in the next 12 months; Where the credit risk of a financial instrument has increased
significantly since the initial recognition but no credit impairment has occurred, the financial instrument shall be in
the second stage, and the Company shall measure the loss provisions in accordance with the expected credit loss of
the instrument throughout its lifetime; Where a financial instrument has suffered credit impairment since its initial
recognition, it shall be in the third stage, and the Company shall measure the loss provisions in accordance with the
expected credit loss for the entire duration of the instrument.
For financial instruments with low credit risk at the balance sheet date, the Company assumes that the credit risk
has not increased significantly since the initial recognition and measures the loss provisions in accordance with the
expected credit loss in the next 12 months.
The Company calculates the interest income for financial instruments in the first and second stages and with low
credit risk on the basis of their book balance and the actual interest rate without deduction of impairment provision.
For a financial instrument in the third stage, the interest income is calculated on the basis of the book balance minus
the amortized cost and the actual interest rate after the provision for impairment.
For notes receivable, accounts receivable, receivables financing and contractual assets, whether or not there is a
significant financing component, the Company measures loss provisions in accordance with the expected credit
losses over the entire duration.
A. Receivables/Contractual assets
For notes receivable, accounts receivable, other receivables, receivables financing, contract assets and long-term
receivables that have objective evidence indicating the existence of impairment and are applicable to single
evaluation, implement impairment test separately, recognize expected credit losses, and set aside single impairment
reserves. For notes receivable, accounts receivable, other receivables, receivables financing, contractual assets and
long-term receivables that have objective evidence of impairment, or when the single financial assets cannot assess
the expected credit losses at reasonable costs, the Company divides notes receivable, accounts receivable, other
receivables, receivables financing, contractual assets and long-term receivables into several portfolios based on
credit risk characteristics, and calculates the expected credit loss on the basis of the portfolios, and the portfolio is
determined on the following basis:
The basis for determining the portfolio of notes receivable is as follows:
Notes receivable portfolio 1 Commercial acceptance bill
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Notes receivable portfolio 2 Bank’s acceptance bill
For notes receivable divided into portfolios, the Company calculates the expected credit loss by referring to the
historical credit loss experience, combining the current situation and the forecast of future economic conditions, and
through default risk exposure and the expected credit loss rate of the entire duration.
The portfolio of accounts receivable is determined as follows:
Accounts receivable portfolio 1 Aging portfolio
Accounts receivable portfolio 2 Jewelry sales portfolio
For accounts receivable divided into portfolio, the Company refers to the historical credit loss experience, combines
the current situation and the forecast of the future economic situation, prepares a comparison table of the aging
account receivable and the expected credit loss rate of the entire duration, and calculates the expected credit loss.
The portfolio of other receivables is determined on the following basis:
Other receivables portfolio 1 Interest receivable
Other receivables portfolio 2 Dividends receivable
Other receivables portfolio 3 Aging portfolio
Other receivables portfolio 4 Deposit receivable and cash deposit portfolio
Other receivables portfolio 5 Related portfolio within the consolidation scope of receivables
For other receivables divided into portfolios, the Company calculates the expected credit loss by referring to the
historical credit loss experience, combining the current situation and the forecast of future economic conditions, and
through default risk exposure and the expected credit loss rate within the next 12 months and over the entire duration.
The basis for determining the portfolio of long-term receivables is as follows:
Long-term receivables portfolio 1 Other receivables
For the long-term receivables divided into Portfolio 1, the Company calculates the expected credit loss by referring
to the historical credit loss experience, combining the current situation and the forecast of future economic
conditions, and through default risk exposure and the expected credit loss rate over the entire duration.
B. Bond investment and other bond investment
With respect to bond investments and other bond investments, the Company calculates the expected credit losses in
accordance with the nature of the investment and the various types of counterparties and risk exposures and the
expected credit loss rates in the next 12 months or over the entire duration.
② Low credit risk
If a financial instrument has low credit risk, the the borrower has a strong ability to fulfill its contractual cash flow
obligations in the short term, and even adverse changes in the economic situation and operating environment over
a longer period may not necessarily reduce the borrower's ability to fulfill its contractual cash flow obligations, the
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financial instrument shall be regarded as a lower credit risk.
③ Credit risk increases significantly
The Company determines the relative changes in the probability of default over the expected duration of a financial
instrument and evaluates whether the credit risk of the financial instruments has increased significantly since the
initial recognition by comparing the probability of default over the expected duration of a financial instrument as
determined at the balance sheet date and the probability of default over the expected duration as determined at the
time of initial recognition.
When determining whether the credit risk has increased significantly since the initial recognition, the Company
considers reasonable and evidence-based information, including forward-looking information, that is available
without unnecessary additional cost or effort. Information considered by the Company includes:
A. Whether the internal price index has changed significantly due to the change of credit risk;
B. Adverse changes in business, finance or economic conditions that are expected to result in a significant change
in the ability of the debtor to meet its debt service obligations;
C. Whether there is an actual or expected significant change in the debtor's operating results; Whether there has
been a significant adverse change in the regulatory, economic or technological environment of the debtor;
D. Whether there has been a significant change in the value of the collateral secured as collateralized debt obligations
or in the quality of the guarantees or credit enhancements provided by third parties. These changes are expected to
reduce the economic incentive of the debtor to repay within the contractual period or affect the probability of default;
E. Whether there are significant changes in the economic incentives that are expected to reduce the economic
incentive of the debtor to repay within the contractual period;
F. Expected changes in the loan contract include whether an anticipated breach of contract might result in exemption
or revision of contractual obligations, grant of interest free periods, jump in interest rates, request for additional
collateral or guarantee, or other changes to the contractual framework of the financial instrument;
G. Whether there is a significant change in the debtor's expected performance and repayment behavior;
H. Whether the contract payment is overdue for more than (including) 30 days.
Based on the nature of the financial instruments, the Company assesses whether the credit risk has increased
significantly on the basis of individual financial instruments or a portfolio of financial instruments. When assessing
on the basis of a portfolio of financial instruments, the Company may classify the financial instruments based on
common credit risk characteristics, such as overdue information and credit risk ratings.
Typically, if it is overdue for more than 30 days, the Company determines that the credit risk of financial instruments
has increased significantly. Unless the Company does not need to pay too much cost or effort and can obtain
reasonable and well-founded information, which demonstrates that although the payment is overdue for 30 days,
the credit risk has not been significantly increased since the initial recognition.
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④Financial assets whose credit impairment has occurred
On the balance sheet date, the Company assesses whether credit impairment has occurred in the financial assets
measured at amortized cost and the debt investment measured at fair value and the changes of which are included
in other comprehensive income. When one or more events that have an adverse effect on the expected future cash
flow of a financial asset occur, the financial asset becomes a financial asset whose credit impairment has occurred.
Evidence indicating that a credit impairment has occurred on a financial asset includes the following observable
information:
The creditor, for economic or contractual reasons relating to the debtor's financial difficulties, gives the debtor
concessions that would not have been made in any other circumstances; The issuer or the debtor has significant
financial difficulties; The debtor breaches the contract, such as default or overdue payment of interest or principal;
The creditor, for economic or contractual reasons relating to the debtor's financial difficulties, gives the debtor
concessions that would not have made in any other circumstances; The debtor is likely to go bankrupt or undergo
other financial restructuring; The financial difficulties of the issuer or debtor lead to the disappearance of the active
market for the financial asset; Purchase or originate a financial asset at a substantial discount that reflects the fact
that a credit loss has occurred.
⑤ Presentation of provisions for expected credit losses
In order to reflect the change of the credit risk of financial instruments since the initial recognition, the Company
shall re-measure the expected credit loss on each balance sheet date, and the resulting increase or reversal amount
of the loss provisions shall be recorded into the current profit and loss as impairment loss or gain. For a financial
asset measured at amortized cost, the loss provision is offset against the carrying value of the financial asset as
shown in the balance sheet; For a debt investment measured at fair value and whose changes are included in other
comprehensive income, the Company shall recognize its loss provision in other comprehensive income and shall
not offset the carrying value of the financial asset.
⑥ Write-off
If the Company no longer reasonably expects the contract cash flow of the financial asset to be recovered in whole
or in part, the book balance of the financial asset shall be written down directly. Such write-down constitutes the
termination of recognition of the underlying financial asset. This usually occurs when the Company determines that
the debtor has no assets or sources of income which will generate sufficient cash flow to repay the amount to be
written down.
If the write-down financial asset is recovered later, the impairment loss shall be reversed and included in the profits
and losses of the recovery period.
(6) Transfer of financial assets
Transfer of financial assets refers to the following two situations:
A. Transfer the contractual right to receive the cash flow of the financial asset to another party;
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B. Transfer the financial asset in whole or in part to another party, but retain the contractual right to receive the cash
flow of the financial asset and the contractual obligation to pay the cash flow received to one or more payees.
①Terminate the recognition of transferred financial assets
Where almost all risks and rewards of ownership of a financial asset have been transferred to the transferee, or
almost all risks and rewards of ownership of a financial asset have been neither transferred nor retained, but the
control over the financial asset has been relinquished, recognition of the financial asset shall be terminated.
When judging whether the control of the transferred financial asset has been given up, based on the actual ability of
the transferee to sell the financial asset, if the transferee can unilaterally sell the transferred financial asset as a whole
to an unrelated third party with no additional conditions restricting such sale, it means that the Company has given
up its control over the financial asset.
The Company pays attention to the essence of financial asset transfer when judging whether the transfer of financial
assets meets the conditions for the termination of recognition of financial asset.
Where the overall transfer of financial assets meets the conditions for termination of recognition, the difference
between the following two amounts shall be recorded into the profits and losses of the current period:
A. Book value of the transferred financial assets;
B.The sum of the consideration received due to the transfer and the amount for the termination of recognition part
in the cumulative amount of changes in fair value directly included in other comprehensive income (The financial
assets involved in transfer are financial assets that are measured at fair value and their changes are included in other
comprehensive income according to Article 18 of Accounting Standards for Business Enterprises No. 22 -
Recognition and Measurement of Financial Instruments).
When the partial transfer of a financial asset meets the criteria for recognition of termination, the entire book value
of the transferred financial asset shall be apportioned between the portion whose recognition is terminated and the
portion whose recognition is not terminated (in this case, the reserved service assets shall be regarded as a part of
the financial assets continued to be recognized) in accordance with the respective relative fair value on the transfer
day, and the balance between the following two amounts shall be recorded into the profits and losses of the current
period :
A. Book value of the the portion whose recognition is terminated on the date of termination of recognition;
B. The sum of the consideration of the portion whose recognition has been terminated and the amount for the
termination of recognition part in the cumulative amount of changes in fair value directly included in other
comprehensive income (The financial assets involved in transfer are financial assets that are measured at fair value
and their changes are included in other comprehensive income according to Article 18 of Accounting Standards for
Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments).
② Continued involvement in the transferred financial assets
Where almost all the risks and rewards of ownership of the financial asset are neither transferred nor retained,
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control over the financial asset has not been relinquished, the relevant financial asset shall be recognized in
accordance with the extent of its continued involvement in the transferred financial asset and the relevant liabilities
shall be recognized accordingly.
The extent of continued involvement in the transferred financial assets refers to the extent to which the enterprise
bears the risk or reward of changes in the value of the transferred financial assets.
③ Continue to recognize the transferred financial assets
Where almost all the risks and rewards of the ownership of the transferred financial asset are still retained, the
transferred financial asset as a whole shall continue to be recognized and the consideration received shall be
recognized as a financial liability.
The financial assets and the relevant financial liabilities recognized shall not offset each other. In the subsequent
accounting period, the enterprise shall continue to recognize the income (or gain) generated by the financial asset
and the expense (or loss) generated by the financial liability.
(7) Offset of financial assets and financial liabilities
Financial assets and financial liabilities shall be shown separately in the balance sheet and should not be set off
against each other. However, if the following conditions are met at the same time, the net amount after mutual offset
shall be presented in the balance sheet:
The Company has the legal right to offset the recognized amount, and such legal right is currently enforceable;
The Company plans a net settlement, or cashes the financial asset and liquidates the financial liability at the same
time.
If the transfer of financial assets does not meet the conditions for termination of recognition, the transferring party
shall not offset the transferred financial assets and related liabilities.
11. Inventory
(1)Classification
Inventory includes finished products or commodities held for sale in daily activities, products in the production
process, materials and supplies consumed in the production process or the process of providing labor services, etc.,
including raw materials, inventory goods, goods sold on consignment and working capital materials.
(2)Valuation methods for delivery of inventory
The delivery of inventory shall be priced individually on a first-in, first-out basis.
(3) Inventory system
Inventory of the Company is inventoried on a perpetual basis. And the inventory is taken at least once a year and
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amount of gains/losses is recognized in gains/losses for the year.
(4) How to set aside the inventory write down
On the balance sheet date, it shall be measured at the lower of cost and net realizable value. If the inventory cost is
higher than the net realizable value, set aside the inventory write down and record it into the profit and loss of the
current period.
The net realizable value of the inventory shall be determined on the basis of reliable evidence obtained, and factors
such as the purpose for which the inventory is held and the impact of events after the balance sheet date shall be
taken into account.
① The net realizable value of the inventory directly used for sale, such as finished products, commodities and
materials for sale, shall be determined in the normal process of production and operation by deducting the estimated
selling cost and relevant taxes from the estimated selling price of the inventory. For inventories held for the
execution of sales contracts or service contracts, the contract price shall be used as the measurement basis for the
net realizable value; If the quantity of inventory held exceeds the quantity ordered under the sales contract, the net
realizable value of the excess inventory shall be measured on the basis of the general sales price. The market price
shall be used as the measurement basis for the net realizable value of the materials for sale, etc.
② The net realizable value of the inventory of materials to be processed is determined by the amount after deducting
the estimated cost, estimated selling expenses and relevant taxes and fees at the time of completion from the
estimated selling price of the finished products. If the net realizable value of the finished product produced by it is
higher than the cost, the material shall be measured at cost; If the decline in the price of a material indicates that the
net realizable value of the finished product is less than the cost, the material is measured at the net realizable value
and inventory write down is set aside based on the difference.
③ The reserve for inventory write down is generally set aside as a single inventory item. For the inventory with
large quantity and low unit price, it shall be set aside by inventory type.
④ On the balance sheet date, if the influencing factors of the previous write-down of the inventory value have
disappeared, the write-down amount shall be restored, and the amount shall be reversed within the original amount
of the inventory write down, and the reversed amount shall be recorded into the profits and losses of the current
period.
12. Contract assets
The Company lists contractual assets or contract liabilities in the balance sheet based on the relationship between
performance obligations and customer payments. The consideration to which the Company is entitled to receive for
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the goods or services it has transferred to the customer (and the right depends on factors other than the passage of
time) is listed as contract assets. The company's obligations to transfer goods or provide services to customers for
which consideration has been received or receivable are listed as contract liabilities.
The Company's determination method and accounting treatment method on expected credit loss of contract assets
are detailed in Notes Ⅳ. 10.
Contract assets and contract liabilities shall be listed separately in the balance sheet. The contract assets and contract
liabilities under the same contract are listed as net amount. If the net amount is the debit balance, it shall be listed
under the item "Contract Assets" or "Other Non-current Assets" according to its liquidity; If the net amount is the
net credit balance, it shall be listed under the "Contract Liabilities" or "Other Non-current liabilities" according to
its liquidity. Contract assets and contract liabilities under different contracts cannot offset each other.
13. Contract cost
Contract cost is divided into contract performance cost and contract acquisition cost.
The cost incurred by the Company for the performance of the contract is recognized as an asset as the performance
cost of the contract when the following conditions are met simultaneously:
① The cost is directly related to a current or expected contract, including direct labor, direct materials,
manufacturing expenses (or similar expenses), costs expressly borne by the customer and other costs incurred solely
as a result of the contract.
② This cost increases the Company's resources for future performance obligations.
③ The cost is expected to be recouped.
If the incremental cost incurred by the Company to acquire the contract is expected to be recovered, it shall be
recognized as an asset as the contract acquisition cost.
Assets related to contract costs are amortized on the same basis as revenue recognition for the goods or services
related to the assets, however, if the amortization period of the contract acquisition cost does not exceed one year,
the Company will record it into the current profit and loss when it occurs.
If the carrying value of the assets related to the contract cost is higher than the difference between the following two
items, the Company will set aside impairment reserves of the excess part and recognize it as impairment loss of the
asset, and further consider whether to set aside provision for the expected liabilities related to the loss contract:
① The remaining consideration expected to be obtained from the transfer of goods or services related to the asset;
② Cost estimated to be incur for transferring the related goods or services.
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If the aforesaid asset impairment provision is subsequently reversed, the carrying value of the asset after the reversal
shall not exceed the carrying value of the asset on the reversal date under the assumption that no impairment
provision is made.
Contract performance costs recognized as assets whose amortization period at the initial recognition does not exceed
one year or one normal operating cycle shall be listed in the item "Inventory", and those whose amortization period
at the initial recognition exceed one year or one normal operating cycle shall be listed in the item "Other Non-
current Assets".
Contract acquisition costs recognized as assets whose amortization period at the initial recognition does not exceed
one year or one normal operating cycle shall be listed in the item "Other Current Assets", and those whose
amortization period at the initial recognition exceeds one year or one normal operating cycle shall be listed in the
item "Other Non-current Assets".
14.Assets held-for-sale
(1)Classification of non-current assets or disposal groups held for sale
The Company classifies non-current assets or disposal groups that meet all of the following conditions as held-for-
sale:
①according to the practice of selling this type of assets or disposal groups in a similar transaction, the non-current
assets or disposal group can be sold immediately at its current condition;
②The sale is likely to occur, that is, the Company has made resolution on the selling plan and obtained definite
purchase commitment, the selling is estimated to be completed within one year. Those assets whose disposal is
subject to approval from relevant authority or supervisory department under relevant requirements are subject to
that approval.
The non-current assets or disposal group acquired by the company specifically for resale shall be classified as held
for sale on the date of acquisition if meets the condition of “expected to complete the sale within one year” on the
acquisition date, and is likely to meet other classification conditions of held for sale in the short term (usually 3
months) .
Where the Company loses control over its subsidiary due to disposal of investment in the subsidiary, whether or not
the Company retains part equity investment after such disposal, investment in the subsidiary shall be classified in
its entirety as held for sale in the separate financial statement of the parent company subject to that the investment
in the subsidiary proposed to be disposed satisfies the conditions for being classified as held for sale, and all the
assets and liabilities of the subsidiary shall be classified as held for sale in consolidated financial statement.
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(2) Measurement of non-current assets held for sale or disposal group
The investment real estate by using fair value model for subsequent measurement, the biological assets measured
at net amount after fair value minus sale cost, the assets formed by employee compensation, the deferred income
tax assets, the financial assets specified by related accounting standards of financial instruments and the
measurements of the rights generated by the insurance contract specified by related accounting standards of
insurance contract respectively apply to other related accounting standards.
When initially measuring or remeasuring the non-current assets held for sale or disposal group on the balance sheet
date, if its book value is higher than the net amount after the fair value minus the sale cost, book value will be
written down to the net amount after the fair value minus the sale cost, the write-down amount shall be recognized
as asset impairment loss and included in the current profits and losses, and the impairment reserves held for sale
shall be set aside at the same time. On the subsequent balance sheet date, if the net amount of the fair value of the
non-current assets or disposal group held for sale increases after subtracting the selling expenses, the previously
written-down amount shall be recovered and reversed within the amount of the asset impairment losses recognized
as non-current assets after being classified as held for sale, and the reversed amount is included in the current profits
and losses. The carrying amount of goodwill that has been offset is not recovered.
When non-current assets or disposal groups no longer continue to be classified as held for sale as they no longer
meet the classification conditions of the held for sale category or non-current assets are removed from the held for
sale disposal group, measure based on the lower of the following two:
①Book value before being classified as held for sale, the amount adjusted according to the depreciation,
amortization, or impairment that should have been recognized under the assumption that it is not classified as held
for sale;
②Recoverable amount.
(3) Presentation
In the balance sheet, the Company lists non-current assets held for sale or assets in the disposal group held for sale
separately from other assets, and lists liabilities in the disposal group held for sale separately from other liabilities.
Non-current assets held for sale or assets in the disposal group held for sale and liabilities in the disposal group held
for sale do not offset each other and are listed as current assets and current liabilities respectively.
15. Long-term equity investment
The long-term equity investment of the Company includes the equity investment which controls and has a significant
impact on the investee and the equity investment in the joint venture. If the Company is able to exert significant
influence on the invested entity, it shall be an associate enterprise of the Company.
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(1) Basis for determining the joint control and significant impact on the investee
Joint control refers to the common control of an arrangement according to relevant agreements, and relevant
activities of the arrangement must be agreed upon by all the participants who share the control right. When judging
whether there is joint control, first judge whether all participants or participant portfolios collectively control the
arrangement. If all participants or a group of participants must act in concert to determine the relevant activities of
an arrangement, then all participants or a group of participants are considered to collectively control the arrangement.
Secondly, it will judge whether the decision of the activities related to the arrangement must be agreed by the
participants who collectively control the arrangement. If two or more participant portfolios can collectively control
an arrangement, it does not constitute joint control. The existence of joint control is judged without regard to the
protective rights enjoyed.
Significant impact means that the investor has the right to participate in the decision-making of the financial and
operational policies of the investee, but cannot control or jointly control the formulation of these policies with other
parties. When determining whether it can exert a significant impact on the investee, it shall consider the impact of
the voting shares directly or indirectly held by the investor and the potential voting rights of the investor and other
parties in the current period assumed to be converted into the equity of the investee, including the impact of current
convertible warrants, stock options and convertible corporate bonds issued by the investee.
When the Company owns more than 20% (including 20%) but less than 50% of the voting shares of the investee
directly or indirectly through its subsidiaries, it is generally considered to have a significant impact on the investee,
unless there is clear evidence that it cannot participate in the production and operation decisions of the investee
under such circumstances, it shall not have a significant impact.
(2) Recognition of initial investment cost
●Investment cost of the long-term equity investment resulting from enterprise combination is recognized in
accordance with the following provisions:
A. In the case of a business combination under the same control, if the combining party pays cash, transfers non-
cash assets or assumes debts as the merger consideration, the share of the book value of the acquired owner’s equity
of the combined party in the consolidated financial statements of the ultimate controlling party shall be used as its
initial investment cost. The difference between the initial investment cost of long-term equity investment and the
carrying amount of cash paid, non-cash assets transferred and liabilities assumed is adjusted to capital reserves; if
the capital reserves is not sufficient to offset the difference, retained earnings is adjusted.
B. For a business combination under the same control, where the merging party issues equity securities as the merger
consideration, the initial investment cost of the long-term equity investment shall be the share of the book value of
the owner's equity of the merged party in the consolidated financial statements of the final controlling party on the
merger date. The capital reserves shall be adjusted according to the difference between the initial investment cost
of a long-term equity investment and the total par value of the issued shares; if the capital reserves are insufficient
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to offset, the retained earnings shall be adjusted;
C. For a business combination not under the same control, the fair value of the assets paid, liabilities incurred or
assumed and equity securities issued on the purchase date in order to acquire the control of the acquiree determines
the merger cost as the initial investment cost of long-term equity investment. The intermediary fees for auditing,
legal services, evaluation and consultation and other related administrative expenses incurred by the merger party
shall be recorded into the profits and losses of the current period when incurred.
●Except for the long-term equity investment formed by enterprise merger, the investment cost of the long-term
equity investment obtained by other means shall be determined in accordance with the following provisions:
A. For long-term equity investment acquired by paying cash, the actual purchase price paid is regarded as the
investment cost. Initial investment cost includes expenses, taxes and other necessary expenses directly related to the
acquisition of long-term equity investment.
B. For long-term equity investment acquired by issuing equity securities, the fair value of issuing equity securities
is regarded as the investment initial investment cost.
C. For long-term equity investment acquired by the exchange of non-monetary assets,
if the exchange is of a commercial nature and the fair value of the assets received or surrendered can be reliably
measured, the fair value of the assets surrendered and the relevant taxes and fees shall be taken as the initial
investment cost, and the difference between the fair value and the book value of the assets surrendered shall be
included in the current profits and losses. If the exchange of non-monetary assets does not meet the above two
conditions at the same time, the book value of the assets surrendered and relevant taxes and fees shall be taken as
the initial investment cost.
D. For long-term equity investment acquired through debt restructuring, its entry value shall be determined by the
fair value of the abandoned creditor's rights and the taxes and other costs directly attributable to the asset, and the
difference between the fair value of the abandoned creditor's rights and the carrying value shall be recorded into the
current profits and losses.
(3) Methods of subsequent measurement and profit and loss recognition
The long-term equity investment that the Company can control over the invested unit shall use cost method for
business accounting; Long-term equity investments in joint ventures and cooperative enterprises shall use equity
method for business accounting.
① Cost method
For the long-term equity investment uses cost method for business accounting, the cost of the long-term equity
investment shall be adjusted when the investment is added or recovered; Cash dividends or profits declared to be
distributed by the invested entity shall be recognized as current investment income.
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② Equity method
The general accounting treatment for long-term equity investments using equity method for business accounting is
as follows:
If the investment cost of the Company's long-term equity investment is greater than the fair value share of the
identifiable net assets of the invested entity, the initial investment cost of the long-term equity investment shall not
be adjusted; If the initial investment cost of the long-term equity investment is less than the fair value share of the
identifiable net assets of the invested entity at the time of investment, the difference shall be recorded into the current
profits and losses, and the cost of the long-term equity investment shall be adjusted at the same time.
The Company recognizes investment income and other comprehensive income respectively according to the share
of net profit and loss realized by the invested entity and other comprehensive income which the Company shall
enjoy or share, and adjusts the book value of long-term equity investment at the same time; The Company calculates
its share based on the profits or cash dividends declared and distributed by the invested entity and reduce the book
value of the long-term equity investment accordingly; The book value of the long-term equity investment shall be
adjusted based on other changes in the owner's equity other than the net profit or loss, other comprehensive income
and profit distribution of the invested entity, and recorded into the owner's equity. When recognizing the share of
the net profit or loss of the invested entity, the fair value of the identifiable net assets of the invested entity at the
time of acquiring the investment shall be taken as the basis, and the net profit of the invested entity shall be
recognized after adjustment. If the accounting policies and accounting periods adopted by the invested entity are
inconsistent with those of the Company, the financial statements of the invested entity shall be adjusted in
accordance with the accounting policies and accounting periods of the Company, and the investment income and
other comprehensive income shall be recognized on the basis thereof. The part of profit and loss of the unrealized
internal transactions between the Company and the associated enterprises and joint ventures which is attributable to
the Company by calculating according to the proportion enjoyed shall be set off, and the investment profit and loss
shall be recognized on this basis. If the loss of unrealized internal transaction between the Company and the invested
entity belongs to impairment loss of assets, it shall be recognized in full.
If the company is able to exert significant influence or implement joint control on the investee due to additional
investment and other reasons, which does not constitute control, the fair value of the original equity investment plus
the new investment cost shall be taken as the initial investment cost according to the equity method. If the previously
held equity investment is classified as other equity instrument investment, the difference between its fair value and
book value, as well as the accumulated gains or losses originally included in other comprehensive income shall be
transferred from other comprehensive income and included in retained earnings in the current period when changing
to use equity method for accounting.
Where the joint control or significant influence on the invested unit is lost due to the disposal of some equity
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investments, the remaining equity after disposal shall be measured by the fair value, and the difference between the
fair value and the book value on the date of the loss of joint control or significant influence shall be recorded into
the current profits and losses. Other comprehensive income of the original equity investment recognized by using
the equity method for accounting adopts the same basis as the direct disposal of related assets or liabilities by the
invested entity for accounting treatment when the equity method is discontinued.
(4) Equity investments held for sale
Where the equity investment of a joint venture or associated enterprise is classified in whole or in part as assets held
for sale, see Notes III. 15 for relevant accounting treatment.
For the remaining equity investment not classified as assets held for sale, the equity method is used for accounting
treatment.
If an equity investment in a joint venture or associated enterprise that has been classified as assets held for sale no
longer meets the classification conditions for assets held for sale, it shall be retroactively adjusted by using the
equity method from the date when it is classified as assets held for sale. The financial statements for the period
classified as held for sale are adjusted accordingly.
(5) Impairment test method and impairment reserve calculation method
For the investment of a subsidiary, associated enterprise or joint venture, see Notes Ⅳ. 21 for the method of setting
aside the impairment of assets.
16. Investment real estate
(1) Category of investment real estate
The investment real estate is the real estate that held to earn rents or for capital appreciation, or both. Mainly
includes:
①Leased land use rights.
②Land use rights held and ready to be transferred after appreciation.
③Leased buildings
(2) Measurement of investment real estate
The Company adopts the cost model to carry out follow-up measurement of investment real estate, see Note Ⅳ. 21
for the method of setting aside the impairment of assets.
After deducting the accumulated impairment and net residual value of the investment real estate cost, the Company
calculates the depreciation or amortization by the straight-line method. The categories of the investment real estate,
the estimated economic useful life and the estimated net residual value rate determine the depreciation life and the
annual depreciation rate as follows:
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Years of
Category Scrap value rate(%) Yearly depreciation rate(%)
depreciation(year)
House and buildings
35-40 3 2.77-2.43
Land use right 50 — 2.00
17. Fixed assets
(1) Recognition
Fixed assets are recognized at their actual cost at the time of acquisition when both of the following conditions are
met:
①the economic benefits associated with the fixed assets are likely to flow into the enterprise.
②cost of the fixed assets can be measured reliably.
If the subsequent expenditure incurred for fixed assets that meet the conditions for recognition of fixed assets are
included in the costs of fixed assets; those that qualify for recognition as fixed assets are recognized in current
gain/loss.
(2) Depreciation methods
Annual depreciation
Category Method Years of depreciation Salvage rates
rates
Straight-line
House and buildings 10, 35-40 0、3 2.43-2.77, 10.00
depreciation
Including: owned Straight-line
house renovation 10 0 10
depreciation
Straight-line
Machinery equipment 12 3 8.08
depreciation
Straight-line
Transport equipment 7 3 13.86
depreciation
Straight-line
Electronic equipment 5-7 3 13.86-19.40
depreciation
Office and other Straight-line
7 3 13.86
equipment depreciation
(3) Recognition, measurement and depreciation of fixed assets held under finance lease
18. Construction in progress
(1) Business accounting of the construction work in process in based on project classification.
(2) Standard and time point for carrying forward the construction work in process into fixed assets
For the construction work in process project, the book value of the fixed asset is all the expenses incurred before
the construction of the asset reaches the predetermined serviceable state. Including construction costs, the original
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price of machinery and equipment, other necessary expenses incurred to make the construction work in process
reach the predetermined serviceable state, as well as the borrowing costs incurred for the special borrowing of the
project before the assets reach the predetermined serviceable state and the borrowing costs incurred for the occupied
general borrowing. The Company transfers the construction work in process into fixed assets when the project
installation or construction is completed and reaches the predetermined serviceable state. The constructed fixed
assets which have reached the predetermined serviceable state but have not yet completed the final account shall be
transferred to the fixed assets based on the estimated value according to the construction budget, cost or actual cost
of work performed from the date of reaching the predetermined serviceable state, and calculates the depreciation of
fixed assets in accordance with the Company's policy for depreciation of fixed assets, and the original provisional
estimated value shall be adjusted according to the actual cost after the completion of the final account, but the
previously accrued amount of depreciation shall not be adjusted.
19. Borrowing expenses
(1) The recognition principle of capitalization of borrowing costs and capitalization period
The borrowing expenses incurred by the Company which can be directly attributed to the acquisition and
construction or production of assets that meet the capitalization conditions shall be capitalized and included into the
related asset costs when the following conditions are met simultaneously:
① Asset expenditure has incurred;
② Borrowing costs have incurred;
③The necessary acquisition and construction or production activities have begun to make the assets reach the
predetermined serviceable state.
Other interest on borrowings, discounts or premiums and exchange gains or losses shall be included in the profits
or losses of the current period.
If abnormal interruption occurs in the process of acquisition, construction or production of the assets eligible for
capitalization, and the interruption period exceeds 3 consecutive months, the capitalization of borrowing costs shall
be suspended.
The capitalization of the borrowing costs shall be stopped when the assets that meet the capitalization conditions of
the acquisition, construction or production reach the predetermined serviceable or marketable status; Borrowing
costs incurred later are recognized as expenses in the current period of occurrence.
(2)The capitalization rate of borrowing costs and the calculation method of capitalization amount
Where specific borrowings are borrowed for the acquisition and construction or production of assets eligible for
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capitalization, the amount after deducting the interest income obtained by depositing the unused loan funds in the
bank or the investment income obtained through temporary investment from the interest expenses actually incurred
in the current period of the specific borrowings is determined as the amount of the capitalization of the interest
charges for specific borrowings.
Where general borrowings are occupied for the acquisition and construction or production of assets eligible for
capitalization, the amount of interest that should be capitalized on the general borrowings shall be calculated and
determined by multiplying the asset expenditure weighted average of the accumulated asset expenditure exceeding
the specific borrowings and the capitalization rate of the general borrowings. The capitalization rate is calculated
and determined based on the weighted average interest rate of general borrowings.
20. Intangible assets
(1) Valuation method, useful life and impairment testing
(1) Valuation of intangible assets
Recorded at the actual cost at the time of acquisition.
(2) Useful life and amortization of intangible assets
①Estimated useful life of the intangible assets with finite useful life:
Item Estimated useful life Basis
Land use right 50 years Legal right of use
Useful life is determined by the reference to the period that can
Computer software 5 years
bring economic benefit to the Company
Useful life is determined by the reference to the period that can
Trademark 10 years
bring economic benefit to the Company
At the end of each year, the company shall review the service life and amortization method of intangible assets with
limited service life. Upon review, the service life and amortization method of intangible assets at the end of this
period are not different from previous estimates.
② Intangible assets that cannot be foreseen to bring economic benefits to the enterprise shall be regarded as
intangible assets with uncertain service life. For intangible assets with uncertain service life, the company shall
review the service life of the intangible assets with uncertain service life at the end of each year. If the service life
of the intangible assets is still uncertain after the review, an impairment test shall be conducted on the balance sheet
date.
③Amortization of intangible assets
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For intangible assets with limited service life, the Company shall determine their service life at the time of
acquisition, and make reasonable amortization within the service life by using the straight line method system, and
the amortization amount shall be recorded into the current profits and losses according to the benefit items. The
specific amount to be amortized is the amount after deducting the estimated residual value from the cost. For
intangible assets for which impairment reserves have been set aside, the accumulated amount of impairment reserves
for intangible assets which have been set aside shall also be deducted. For intangible assets with limited service life,
its residual value shall be regarded as zero, except in the following cases: a third party promises to purchase the
intangible asset at the end of its service life, or the estimated residual value information can be obtained based on
the active market, and such market is likely to exist at the end of the service life of the intangible asset.
Intangible assets with uncertain service life shall not be amortized. At the end of each year, the service life of
intangible assets with uncertain service life shall be reviewed. If there is evidence that the service life of intangible
assets is limited, the service life of intangible assets shall be estimated and reasonably amortized in a system within
the expected service life.
(3)Long-term assets impairment
The asset impairment of the long-term equity investment of subsidiary companies, associated enterprises and joint
ventures, the investment real estate using cost model for subsequent measurement, the fixed assets, the construction
work in process, the intangible assets, the goodwill, etc. (except for inventory, investment real estate measured by
fair value model, deferred income tax assets, financial assets) is determined according to the following methods:
On the balance sheet date, the Company judges whether there are any signs of possible impairment of the assets. If
there are any signs of impairment, the Company will estimate the recoverable amount and conduct an impairment
test. For goodwill formed by business combination, intangible assets with uncertain service life and intangible assets
that have not reached the usable state, impairment test is carried out every year, regardless of whether there is any
indication of impairment.
The recoverable amount is determined according to the higher between the net amount of the fair value of the asset
minus the disposal expense and the present value of the expected future cash flow of the asset. The Company
estimates the recoverable amount on the basis of individual assets; If it is difficult to estimate the recoverable amount
of a single asset, the recoverable amount of an asset group shall be determined on the basis of the asset group to
which the asset belongs. The identification of an asset group shall be based on whether the main cash inflow
generated by the asset group is independent of the cash inflow of other assets or asset group.
When the recoverable amount of an asset or an asset group is lower than its carrying amount, the Company will
write down the carrying amount to the recoverable amount, record the write-down amount into the current profits
and losses, and at the same time make a provision for the corresponding asset impairment.
For the impairment test of goodwill, the book value of the goodwill formed by the business combination shall be
apportioned to the relevant asset group in a reasonable manner from the purchase date; If it is difficult to be
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apportioned to the relevant asset group, it shall be apportioned to the relevant asset group portfolio. The related asset
group or asset group portfolio is the asset group or asset group portfolio that can benefit from the synergies of
business combination and is not greater than the reporting segment identified by the Company.
During the impairment test, if the asset group or asset group portfolio related to goodwill shows signs of impairment,
the impairment test shall be carried out on the asset group or asset group portfolio which does not contain goodwill,
the recoverable amount shall be calculated and the corresponding impairment loss shall be confirmed. Then the
impairment test is carried out on the asset group or the asset group portfolio containing goodwill, comparing its
book value with the recoverable amount, if the recoverable amount is lower than the book value, the impairment
loss of goodwill is confirmed.
Once an asset impairment loss is recognized, it shall not be reversed in the subsequent accounting period.
(2) Accounting policy for internal R&D expenditures
21. Long-term assets impairment
The asset impairment of the long-term equity investment of subsidiary companies, associated enterprises and joint
ventures, the investment real estate using cost model for subsequent measurement, the fixed assets, the construction
work in process, the intangible assets, the goodwill, etc. (except for inventory, investment real estate measured by
fair value model, deferred income tax assets, financial assets) is determined according to the following methods:
On the balance sheet date, the Company judges whether there are any signs of possible impairment of the assets. If
there are any signs of impairment, the Company will estimate the recoverable amount and conduct an impairment
test. For goodwill formed by business combination, intangible assets with uncertain service life and intangible assets
that have not reached the usable state, impairment test is carried out every year, regardless of whether there is any
indication of impairment.
The recoverable amount is determined according to the higher between the net amount of the fair value of the asset
minus the disposal expense and the present value of the expected future cash flow of the asset. The Company
estimates the recoverable amount on the basis of individual assets; If it is difficult to estimate the recoverable amount
of a single asset, the recoverable amount of an asset group shall be determined on the basis of the asset group to
which the asset belongs. The identification of an asset group shall be based on whether the main cash inflow
generated by the asset group is independent of the cash inflow of other assets or asset group.
When the recoverable amount of an asset or an asset group is lower than its carrying amount, the Company will
write down the carrying amount to the recoverable amount, record the write-down amount into the current profits
and losses, and at the same time make a provision for the corresponding asset impairment.
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For the impairment test of goodwill, the book value of the goodwill formed by the business combination shall be
apportioned to the relevant asset group in a reasonable manner from the purchase date; If it is difficult to be
apportioned to the relevant asset group, it shall be apportioned to the relevant asset group portfolio. The related asset
group or asset group portfolio is the asset group or asset group portfolio that can benefit from the synergies of
business combination and is not greater than the reporting segment identified by the Company.
During the impairment test, if the asset group or asset group portfolio related to goodwill shows signs of impairment,
the impairment test shall be carried out on the asset group or asset group portfolio which does not contain goodwill,
the recoverable amount shall be calculated and the corresponding impairment loss shall be confirmed. Then the
impairment test is carried out on the asset group or the asset group portfolio containing goodwill, comparing its
book value with the recoverable amount, if the recoverable amount is lower than the book value, the impairment
loss of goodwill is confirmed.
Once an asset impairment loss is recognized, it shall not be reversed in the subsequent accounting period.
22.Long-term prepaid expenses
To account for the expenses that have been incurred but which shall be borne by the current and future periods
and which are apportioned over a period of more than one year.
The long-term prepaid expenses will amortized equally over the period of benefit.
23. Employee remuneration
(1) Accounting treatment of short-term remuneration
① Basic remuneration (salary, bonus, allowance, subsidy)
During the accounting period when the employees provide services to the Company, the Company recognizes the
short-term remuneration actually incurred as a liability and records it into the current profits and losses, except for
those required or allowed to be included in the cost of assets under other accounting standards.
② Employee welfare expenses
The employee welfare expenses incurred by the Company shall be included in the current profits and losses or
related asset costs according to the actual amount incurred when they actually occur. If employee welfare expenses
are non-monetary welfare, they shall be measured at fair value.
③Medical insurance, industrial injury insurance, maternity insurance and other social insurance premiums and
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housing provident funds, as well as labor union funds and staff education funds
The medical insurance, industrial injury insurance, maternity insurance and other social insurance premiums and
housing provident funds the Company paid for its employees, as well as the labor union funds and staff education
funds set aside by rule calculate and determine the corresponding employee remuneration amount according to the
stipulated provisions basic and provision ratio during the accounting period for the employee to provide services,
and confirm the corresponding liabilities and record them into the current profits and losses or related asset cost.
④Short-term paid absence
The Company recognizes the employee's compensation related to the accumulated paid absence when the service
provided by the employee increases his or her right to enjoy future paid absence, and measures it with the increase
in expected payment due to the accumulated unexercised right. The Company recognizes employee compensation
related to non-cumulative paid absence during the accounting period when the absence actually occurs.
⑤ Short-term profit sharing plan
If the profit sharing plan satisfies the following conditions at the same time, the Company recognizes the relevant
employee compensation payable:
A. The enterprise has a statutory or constructive obligation to pay its employees due to past events;
B. The amount of payroll obligations arising from profit sharing plans can be reliably estimated.
(2) Accounting treatment of post-employment benefits
① Defined contribution plans
The Company recognizes the amount payable calculated according to the defined contribution plans as a liability
during the accounting period when the employee provides services to it, and records it into the current profits and
losses or the related asset cost.
According to the defined contribution plans, where it is not expected to pay the full amount payable within 12
months after the end of the annual reporting period for the relevant services provided by the employee, the Company
measures the payroll payable by the amount after discounting the full amount payable with reference to the
corresponding discount rate (determined by the treasury bonds matching with the obligatory term of defined
contribution plans or the market yield of the high quality corporate bonds in the active market at the balance sheet
date).
② Defined benefit plans
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A. Determine the present value and current service cost of the obligations under the defined benefit plans
According to the expected accumulative welfare unit method, the relevant demographic variables and financial
variables are estimated by using unbiased and consistent actuarial assumptions, the obligations arising from the
defined benefit plans are measured, and the period of attribution of the relevant obligations is determined. The
Company discounts the obligations arising from the defined benefit plans according to the corresponding discount
rate (determined by the treasury bonds matching with the obligatory term of defined benefit plans or the market
yield of the high quality corporate bonds in the active market at the balance sheet date) to determine the present
value of the obligations of the defined benefit plans and the current service cost.
B. Recognize the net liabilities or net assets of the defined benefit plans
Where there are assets in the defined benefit plans, the Company shall recognize the deficit or surplus formed by
the present value of the obligations of the defined benefit plans minus the fair value of the assets of the defined
benefit plans as the net liabilities or net assets of a defined benefit plan.
If there is surplus in the defined benefit plans, the Company shall measure the net assets of the defined benefit plans
by the lower of the defined benefit plans’ surplus or the upper limit of assets.
C. Determine the amount to be included in the asset cost or the current profit and loss
Service cost includes current service cost, past service cost and settlement gains or losses. Among them, except for
the current service costs required or allowed to be included in the cost of assets under other accounting standards,
other service costs are included in the current profits and losses.
Net interest on net liabilities or net assets of defined benefit plans, including interest income on plan assets, interest
expense on defined benefit plan obligations, and interest on the impact of asset caps, are recorded in the current
profits and losses.
D. Determine the amount to be included in other comprehensive income
Remeasurement of changes in net liabilities or net assets of a defined benefit plan, including:
(a) Actuarial gain or loss is an increase or decrease in the present value of the previously measured defined benefit
plan obligations as a result of actuarial assumptions and empirical adjustments;
(b) Return on plan assets, deduct the amount included in the net interest on the net liabilities or net assets of the
defined benefit plan;
(c) Changes in the impact of the asset cap, deduct the amount included in the net interest on the net liabilities or net
assets of the defined benefit plan.
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Changes in net liabilities or net assets of the above-mentioned remeasured benefit plan are directly included in other
comprehensive income and are not allowed to be transferred back to profit or loss in subsequent accounting periods,
but the Company may transfer these amounts recognized in other comprehensive income within the range of equity.
(3) Accounting treatment of dismiss benefits
Where the Company provides dismiss benefits to its employees, the Company shall recognize the employees'
compensation liabilities arising from dismiss benefits at the earlier day of the following two, and record them into
the current profits and losses:
①The enterprise cannot unilaterally withdraw the dismiss benefits provided by the plan for the termination of labor
relations or the downsizing proposal;
② When the enterprise recognizes the costs or expenses related to the restructuring involving the payment of dismiss
benefits.
If the dismiss benefits are not expected to be fully paid within 12 months after the end of the annual report period,
the amount of dismiss benefits shall be discounted according to the corresponding discount rate (determined by the
treasury bonds matching with the obligatory term of defined benefit plans or the market yield of the high quality
corporate bonds in the active market at the balance sheet date), and the discounted amount shall be used to measure
the payroll payable.
(4) Other accounting treatment methods for long-term employee benefits
① Meeting the conditions of the defined benefit plan
If other long-term employee benefits provided by the Company meet the conditions of the defined benefit plan, the
payroll payable shall be measured at the discounted amount of the total amount payable.
② Meeting the conditions of the defined benefit plan
At the end of the reporting period, the Company recognizes the employee compensation costs generated by other
long-term employee benefits as the following components:
A. Service cost;
B. Net interest on net liabilities or net assets of other long-term employee benefits;
C. Remeasurement of changes in net liabilities or net assets of other long-term employee benefits.
In order to simplify the relevant accounting treatment, the total net amount of the above items is included in the
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current profits and losses or the related asset cost.
24. Accrual liability
(1) Recognition standards
The Company recognizes an accrual liability if the obligation associated with the contingency also meets the
following conditions:
①the obligation is a present obligation assumed by the Company;
②it is probable that the performance of the obligation will result in an outflow of the economic benefits to the
Company;
③the obligation can be measured reliably for its value.
(2) Measurement
Accrual liabilities are initially measured in accordance with the best estimate of the expenses required to fulfill the
relevant current obligations, taking into account the risks, uncertainties and time value of money related to
contingencies. The book value of the Accrual liabilities is reviewed on each balance sheet date. If there is conclusive
evidence that the book value cannot reflect the current best estimate, the book value shall be adjusted according to
the current best estimate.
25. Revenue
Accounting policy of revenue recognition and measurement
(1) General principles
Income is the total inflow of economic benefits generated in the daily activities of the Company that will lead to an
increase in shareholders' equity and have nothing to do with the capital invested by shareholders.
The Company recognizes revenue when the performance obligation in the contract has been fulfilled, that is, when
the customer obtains the control of the relevant commodity. To gain control of a relevant commodity means to be
able to dominate the use of the commodity and gain almost all economic benefits from it.
If the contract contains two or more performance obligations, the Company shall, on the commencement date of the
contract, apportion the transaction price to each individual performance obligation in accordance with the relative
proportion of the individual selling price of the goods or services promised in each individual performance
obligation, and measure its income according to the transaction price apportioned to each individual performance
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obligation.
The transaction price is the amount of consideration the Company expects to be entitled to receive in connection
with the transfer of goods or services to the customer, excluding payments received on behalf of third parties. When
determining the contract transaction price, if there is a variable consideration, the Company determines the best
estimate of the variable consideration in terms of the expected or most likely amount, and includes the transaction
price in an amount not exceeding the cumulatively recognized income which is highly unlikely to be materially
reversed when the relevant uncertainty is removed. If there is a significant financing component in the contract, the
Company will determine the transaction price on the basis of the amount payable paid in cash by the customer at
the time of acquisition of control of the goods, the difference between the transaction price and the contract
consideration is amortized over the period of the contract by using the effective interest method. Where the time
between the transfer of control and the payment by the customer is less than one year, the Company shall not
consider the financing component.
It belongs to fulfillment of performance obligations within a certain period of time if meeting one of the following
conditions; otherwise, it belongs to fulfillment of performance obligations at a certain point of time:
①The customer obtains and consumes the economic benefits brought by the performance of the Company when
performing the contract;
② The customer can control the goods under construction in the process of the company's performance;
③The products produced by the Company during the performance of the contract have irreplaceable uses, and the
Company has the right to collect payment for the accumulated part of the performance completed so far during the
entire contract period.
For performance obligations performed within a certain period of time, the Company shall recognize revenue in
accordance with the performance progress within that period, except where the performance progress cannot be
reasonably determined. The Company determines the performance progress of the services provided according to
the input (or output) method. When the performance progress cannot be reasonably determined, if the cost already
incurred by the Company is expected to be compensated, the revenue shall be recognized according to the amount
of cost already incurred until the performance progress can be reasonably determined.
For performance obligations performed at a certain point of time, the Company recognizes revenue at the time point
when the customer obtains control of the relevant goods. When judging whether the customer has acquired control
of the goods or services, the Company will consider the following indications:
①The Company is entitled to current payment rights in respect of the goods or services, that is, the customer has
current payment obligations in respect of the goods;
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② The Company has transferred the legal ownership of the goods to the customer, that is, the customer has the legal
ownership of the goods;
③ The Company has transferred the commodity in kind to the customer, that is, the customer has physical
possession of the commodity;
④The Company has transferred the main risks and rewards of the ownership of the goods to the customer, that is,
the customer has acquired the main risks and rewards of the ownership of the goods;
⑤ The customer has accepted the goods.
Sales return clause
For sales with a sales return clause, the Company shall recognize the revenue according to the amount of
consideration to which the customer is entitled as a result of the transfer of the goods to the customer when the
customer acquires the control of the relevant goods, and the amount refunded as expected due to the sales return
shall be recognized as an estimated liability. At the same time, the balance after deducting the cost expected to be
incurred for the recovery of the goods (including impairment of the value of the returned goods) from the book
value of the returned commodity at the time of transfer is recognized as an asset, i.e. the cost of returns receivable,
and deducts the net amount carryover cost of the above asset cost according to the book value of the transferred
commodity at the time of transfer. On each balance sheet date, the Company re-estimates the return of future sales
and remeasures the above assets and liabilities.
Warranty obligations
According to the contract and legal provisions, the Company provides quality assurance for the sale of goods,
construction of the project, etc. For the warranty quality assurance designed to assure customers that the products
sold meet established standards, the Company conducts accounting treatment in accordance with the Accounting
Standards for Business Enterprises No. 13 - Contingencies. For service class quality assurance that provides a
separate service in addition to assuring customers that the goods sold meet established standards, the Company
regards it as a single performance obligation and apportions part of the transaction price to the service class quality
guarantee in accordance with the relative proportion of the separate price for providing goods and service class
quality guarantee, and recognizes the revenue when the customer obtains the control of the service. When assessing
whether quality assurance provides a separate service in addition to assuring the customer that the goods sold meet
established standards, the Company considers such factors as whether the warranty is a statutory requirement, the
quality warranty period and the nature of the task to which the Company is committed.
Principal responsible persons and agents
The Company determines whether the status at the time of engaging in a transaction is that of a principal responsible
person or agent, based on whether the company has control over the goods or services prior to transferring them to
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the customer. The Company can control the commodities or services before transferring them to the customers,
therefore, the Company is the principle responsible person, and the revenue is recognized according to the total
consideration received or receivable. Otherwise, the Company, acting as the agent, shall recognize the revenue on
the basis of the amount of commissions or service charges it is expected to be entitled to receive, this amount should
be determined on the basis of the net amount after deducting the price payable to other relevant parties from the
total consideration received or receivable, or on the basis of the amount or proportion of fixed commissions, etc.
Customer consideration payable
If there is a customer consideration payable in the contract, unless the consideration is to obtain other clearly
distinguishable goods or services from the customer, the Company will offset the consideration payable against the
transaction price, and the Company will offset the current revenue at the later time point between the time
recognizing the relevant revenue or the time paying (or promising to pay) the customer consideration.
Contractual rights not exercised by the client
If the Company receives payments for sales of goods or services from customers in advance, it will first recognize
such payments as liabilities and then turn them into income when the relevant performance obligations are fulfilled.
Where any advance received by the Company is not refundable and the Customer may waive all or part of its
contractual rights, and the Company anticipates to be entitled to an amount in connection with the contractual rights
waived by the customer, such amount shall be recognized as revenue pro rata according to the mode in which the
customer exercises the contractual rights. Otherwise, the Company will convert the relevant balance of the said
liabilities into income only when it is highly unlikely that the customer will require the fulfillment of the remaining
performance obligations.
Change of contract
When the construction contract between the Company and the customer changes:
① If the change of contract adds a clearly distinguishable construction service and contract price, and the new
contract price reflects the separate selling price of the new construction service, the Company will account for the
change of contract as a separate contract;
② If the change of contract does not belong to the above-mentioned situation ①, and the construction service that
has been transferred and the construction service that has not been transferred on the date of contract change can be
clearly distinguished, the Company will regard it as the termination of the original contract, and at the same time,
the unperformed part of the original contract and the changed part of the contract are combined into a new contract
for accounting treatment;
③ If the change of contract does not belong to the above-mentioned situation ①, and the construction service that
has been transferred and the construction service that has not been transferred on the date of contract change cannot
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be clearly distinguished, the Company will account for the changed part of the contract as an integral part of the
original contract, and the resulting impact on the recognized revenue shall adjust the current revenue on the date of
contract change.
(2) Specific methods
Specific methods for revenue recognition of the Company are as follows:
① Commodity sales contract
The sales contract between the Company and the customer contains the performance obligation of the transferred
goods, which belongs to the performance obligation at a certain point in time.
The revenue recognition of auto sales and jewelry wholesale need to satisfy the following conditions: the Company
has delivered goods to the customer according to the contract and customer has accepted the goods, the payment
has been received or the receipt has been obtained and the associated economic benefits are likely to flow in, the
major risks and rewards of ownership of the goods have been transferred, and the legal ownership of the goods has
been transferred.
②Auto repair and test contract
The performance obligations contained in the auto repair and test contract between the Company and the customer
belong to the performance obligations at a certain point in time.
The revenue recognition of auto repair and test contract needs to meet the following conditions: the Company has
completed the service of auto repair and test as agreed in the contract, settled all materials and working hours with
the customer, and allowed the customer's automobile to leave the Company's repair shop.
③ Provision of service contract
The provision of service contract between the Company and customers includes the performance obligations for
services related to the rental of real estate, as the customer obtains and consumes the economic benefits brought by
the Company's performance of the contract while the Company performs the contract, the Company considers them
as the performance obligations to be performed within a certain period of time, and apportions and recognizes them
equally during the service provision period.
④ Real estate lease contract
For the recognition method for the Company's real estate rental income, see "Notes Ⅳ. 28".
26. Government subsidy
(1) Recognition
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Government subsidies are recognized when the following conditions are met at the same time:
①The company can meet the conditions attached to the government subsidies;
②The company can receive government subsidies.
(2) Measurement
If the government subsidy is a monetary asset, it shall be measured according to the amount received or receivable.
If the government subsidy is a non-monetary asset, it shall be measured at fair value; If the fair value cannot be
reliably obtained, it shall be measured according to the nominal amount of 1 yuan.
(3) Accounting treatment of government subsidies
① Asset-related government subsidies
The government subsidies obtained by the company for the purchase and construction or the formation of long-term
assets in other ways are classified as the government subsidies related to assets. Government subsidies related to
assets are recognized as deferred income, which shall be included into profits and losses in a reasonable and
systematic way in the service life of the relevant assets. Government subsidies measured in nominal amounts shall
be directly included in current profits and losses. If the relevant assets are sold, transferred, scrapped or destroyed
before the end of their useful life, the undistributed balance of relevant deferred income shall be transferred to the
current profit sand loss of the asset disposal.
② Government subsidies related to income
Government subsidies other than those related to assets are classified as income-related government subsidies. The
government subsidies related to income shall be conducted accounting treatment according to the following
regulations in different cases:
Those used to compensate the relevant costs or losses of the Company in subsequent periods shall be recognized as
deferred income and shall be recorded into the current profits and losses during the period in which the relevant
costs or losses are recognized;
Those used to compensate the relevant costs or losses incurred by the Company shall be directly recorded into the
current profit and loss.
For the government subsidies that contain both the part related to assets and the part related to income, separate
different parts for accounting treatment; for the indistinguishable part, the whole is classified as income-related
government subsidies.
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Government subsidies related to the daily activities of the Company shall be included in other earnings in
accordance with the substance of economic business. The government subsidies unrelated to the daily activities of
the Company shall be included in the non-operating income and expenditure.
③ Policy-based preferential loan with discounted interest
If the finance allocates the funds with discounted interest to the lending bank, and the lending bank provides the
Company with a loan at a policy-based preferential interest rate, the actual amount of the received loan shall be
taken as the entry value of the loan, and the relevant borrowing costs shall be calculated according to the loan
principal and the policy-based preferential interest rate.
If the finance directly allocates the funds with discounted interest to the Company, and the Company shall offset the
relevant borrowing costs with the corresponding discounted interest.
④Return of government subsidies
When the recognized government subsidies need to be returned, the book value of the assets shall be adjusted if the
book value of the relevant assets is written down during the initial recognition; If there is a balance of the relevant
deferred income, the book balance of the relevant deferred income shall be written down, and the excess part shall
be included into the current profits and losses; Under other circumstances, they shall be directly recorded into current
profits and losses.
27. Deferred income tax assets /deferred income tax liabilities
The Company usually recognizes and measures the amount of income tax impact of taxable temporary differences
or deductible temporary differences as deferred income tax liabilities and deferred income tax assets by using the
balance sheet liability method based on the temporary differences between the book value of assets and liabilities
on the balance sheet date and the tax base. The Company does not discount deferred tax assets and deferred tax
liabilities.
(1) Recognition of deferred tax assets
For deductible temporary differences, deductible losses and tax credits that can be carried forward to the next year,
their amount of impact on income tax is calculated at the expected income tax rate during the reversal period and is
recognized as a deferred income tax asset, but is within the limit of future taxable income that the Company are
likely to use to offset deductible temporary differences, deductible losses and tax credits.
The impact amount of income tax of a deductible temporary difference arising from the initial recognition of an
asset or liability in a transaction or event simultaneously having both the following characteristics shall not be
recognized as a deferred income tax asset:
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A. The transaction is not a business merger;
B. The transaction occurs without affecting either accounting profit or taxable income (or deductible loss).
The impact amount of income tax of the Company's deductible temporary differences related to its investments in
subsidiaries, associated companies and joint ventures shall be recognized as deferred income tax assets if both of
the following conditions are met:
A. Temporary differences are likely to be reversed in the foreseeable future;
B. Taxable income is likely to be obtained in the future to offset the deductible temporary difference;
At the balance sheet date, if there is conclusive evidence that sufficient taxable income is likely to be obtained in
the future period to offset the deductible temporary difference, the deferred income tax assets not recognized in the
previous period shall be recognized.
At the balance sheet date, the Company reviews the book value of the deferred tax assets. Write down the book
value of the deferred tax asset if it is likely that sufficient taxable income will not be available to offset the benefit
of the deferred tax asset in future periods. When sufficient taxable income is likely to be obtained, the amount of
the write-down shall be reversed.
(2) Recognition of deferred income tax liabilities
The impact of all taxable temporary differences of the Company on income tax is measured at the expected income
tax rate during the reversal period and is recognized as a deferred income tax liability, except in the following cases:
① The effect of taxable temporary differences on income tax arising from the following transactions or events is
not determined as a deferred income tax liability:
A. Initial recognition of goodwill;
B. Initial recognition of assets or liabilities arising from transactions having the following characteristics: the
transaction is not a business combination and affects neither accounting profit nor taxable income or deductible
losses when the transaction occurs.
② The impact amount of income tax of the Company's taxable temporary differences related to its investments in
subsidiaries, associated enterprises and joint ventures shall be recognized as deferred income tax liabilities, except
where the following two conditions are met:
A. The Company can control the time for the temporary difference to be reversed;
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B. The temporary difference is unlikely to reverse in the foreseeable future.
(3) Recognition of deferred income tax liabilities or assets involved in a particular transaction or event
① Deferred income tax liabilities or assets related to the business combination
For taxable temporary differences or deductible temporary differences arising from business combinations not under
the same control, when a deferred tax liability or deferred tax asset is recognized, the associated deferred income
tax expense (or income) is usually adjusted for the goodwill recognized in the business combination.
②Items directly included in owners' equity
The current income tax and deferred income tax related to the transaction or event directly included in the owner's
equity shall be included in the owner's equity. The influence of temporary differences on income taxes are included
in the transactions or events of owners' equity, including other comprehensive income generated by changes in fair
value of other creditor's rights investments, retained earnings at the beginning of the period adopting retroactive
adjustment method for changes in accounting policies or adjusting retroactive restatement method for prior (or
important) accounting errors correction difference, and hybrid financial instruments containing both liabilities
ingredients and equity ingredients at the same time included in the owner's equity at the initial recognition, etc.
③ Recoverable loss and tax deduction
A. Recoverable losses and tax deductions arising from the Company's own operations
Deductible loss refers to the loss calculated and determined in accordance with the provisions of the tax law which
is allowed to be made up with the taxable income of subsequent years. Uncovered losses (deductible losses) and tax
deductions that can be carried forward to subsequent years in accordance with the provisions of the tax law shall be
dealt with as deductible temporary differences. Where sufficient taxable income is likely to be obtained in the future
periods in which losses or tax deductions are expected to be available, the corresponding deferred income tax asset
shall be recognized within the limit of the taxable income likely to be obtained, and the income tax expense in the
current income statement shall be reduced.
B. Recoverable uncovered losses of the combined enterprise resulting from business combination
In a business combination, the Company shall not recognize the deductible temporary differences acquired by the
acquiree that do not meet the conditions for the recognition of deferred income tax assets on the purchase
date.Within 12 months after the acquisition date, if new or further information indicates that relevant conditions
existed on the date of purchase, and it is expected that the economic benefits of the acquiree brought by the
deductible temporary differences on the purchase date can be realized, recognize the relevant deferred income tax
assets, and reduce the goodwill at the same time, if the goodwill is insufficient for write-down, the difference part
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shall be recognized as the current profits and losses; In addition to the above conditions, the deferred income tax
assets related to the business combination shall be recognized and recorded into the current profits and losses.
④Temporary differences formed by merger offset
When preparing the consolidated financial statements, where there is a temporary difference between the book value
of the assets or liabilities in the consolidated balance sheet and the tax base of the taxable entity due to the offset of
unrealized internal sales gains and losses, the deferred income tax assets and deferred income tax liabilities shall be
recognized in the consolidated balance sheet, and the income tax expenses in the consolidated income statement
shall be adjusted at the same time, but except for the transactions or events directly included in owners' equity and
the deferred income taxes related to the business combination.
⑤ Equity-settled share-based payments
If the tax law allows a pre-tax deduction for expenses related to share-based payments, within the period during
which costs and expenses are recognized in accordance with accounting standards, the Company shall calculate and
determine its tax base and temporary differences arising therefrom according to the amount of pre-tax deductions
estimated by the information obtained at the end of the accounting period, and recognize the relevant deferred
income taxes in compliance with recognition conditions. Among them, the amount that can be deducted before tax
in the future period is expected to exceed the cost and expense related to share-based payment recognized in
accordance with the provisions of accounting standards, and the income tax impact of the excess part shall be
directly recorded into the owner's equity.
28. Leasing
(1) Accounting treatment of operating leases
The Company recognizes the lease receipts as rental income on a straight-line basis during each period of the lease
term, and capitalizes the initial direct expenses incurred and amortizes them on the same basis as the recognition of
rental income, and includes in the current profit and loss in installments. The variable lease payments obtained by
the Company related to operating leases but not included in the lease receipts are included in the current profit and
loss when actually incurred.
(2) Accounting treatment of finance lease
On the lease start date, the Company recognizes the finance lease receivables based on the net investment in the
lease (the sum of the unguaranteed residual value and the present value of the lease receipts not yet received on the
lease start date and discounted at the interest rate implicit in the lease), and derecognizes the financial lease assets.
During each period of the lease term, the Company calculates and recognizes interest income based on the interest
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rate implicit in the lease. The variable lease payments obtained by the Company that are not included in the
measurement of net lease investment are included in the current profit and loss when they are actually incurred.
V. Taxes
1. Type of tax and rate for main applicable tax
Taxes Basis Rate
Selling goods or providing taxable
VAT 13%, 11%, 9%, 5%, 6%, 3%
services
Consumption tax Sell goods 0.1
Price-based resource tax, 1.2 percent of
the remaining value after deducting 30%
Urban maintenance and construction tax of the original value of the property; tax 1.2%, 12%
on 12% of rent income for calculation
and collection based on rent
Enterprise income tax Turnover tax payable 0.07
Educational surtax Turnover tax payable 0.03
Local education surcharge Turnover tax payable 0.02
Enterprise income tax Taxable income 20%, 25%
Rate of income tax for different taxpaying body:
Taxpaying body Rate of income tax
Shenzhen Xinyongtong Auto Vehicle Inspection Equipment
0.2
Co., Ltd.
Shenzhen Huari Anxin Automobile Inspection Ltd. 0.2
Shenzhen Tellus Chuangying Tech. Co., Ltd. 0.2
Other taxpaying body than the above 0.25
2. Tax preferential
According to the “Notice on Implementation of Preferential Tax-reduction & Exemption Policies for Small & Micro Enterprises” (Cai
Shui [2019] No.13) issued by SAT (State Administration of Taxation), Shenzhen Xinyongtong Auto Vehicle Inspection Equipment
Co., Ltd., Shenzhen Huari Anxin Automobile Inspection Ltd. and Shenzhen Tellus Chuangying Tech. Co., Ltd. enjoys the preferential
tax policies for small & micro enterprises with enterprise income tax at the rate of 20%.
VI. Annotation to main items of consolidated financial statements
1. Monetary funds
Unit: RMB/CNY
Item Ending balance Opening balance
Cash on hand 9,691.12 36,941.24
Cash in bank 219,723,053.11 240,545,115.92
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Total 219,732,744.23 240,582,057.16
The total amount of money that
has restrictions on use due to mortgage, 27,188,802.59 26,926,471.30
pledge or freezing
Other explanation:
As of June 30, 2022, bank deposits of 27,188,802.59 yuan is the supervision fund by the Company developed the land plot 03 project
of the upgrading project of Tellus-Gman Gold Jewelry Industrial Park. 2,000,000 yuan refers to the performance bond, in addition,
there are no other amount in the monetary funds at the end of the period that are subject to restrictions on use and potential recovery
risks due to mortgages, pledges or freezes.
2. Trading financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Financial assets measured by fair value
and with variation reckoned into current 422,095,775.34 412,712,843.84
gains/losses
Including:
Structured deposits and wealth
422,095,775.34 412,712,843.84
management products
Including:
Total 422,095,775.34 412,712,843.84
3. Account receivable
(1) Category
Unit: RMB/CNY
Ending balance Opening balance
Categor Book balance Bad debt provision Book balance Bad debt provision
y Book Book
Accrual value Accrual value
Amount Ratio Amount Amount Ratio Amount
ratio ratio
Account
receivab
le with
bad debt
68,796,4 48,981,6 19,814,7 48,781,4 72.74% 48,781,4
provisio 65.95% 71.20% 100%
09.16 34.40 74.76 85.16 85.16
n accrual
on a
single
basis
Account
receivab
le with
bad debt 35,517,0 183,413. 35,333,5 18,277,4 27.26% 183,413. 18,094,0
34.05% 0.52% 100.00%
provisio 01.20 13 88.07 73.05 13 59.92
n accrual
on
portfolio
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104,313, 49,165,0 55,148,3 67,058,9 48,964,8 18,094,0
Total 100.00% 47.13% 100.00% 73.02%
410.36 47.53 62.83 58.21 98.29 59.92
Bad debt provision accrual on single basis:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Shenzhen Jinlu
The account age is long
Industry and Trade Co., 9,846,607.00 9,846,607.00 100% and is not expected to
be recovered
Ltd.
Guangdong Zhanjiang
The account age is long
Sanxing Auto Service 4,060,329.44 4,060,329.44 100% and is not expected to
be recovered
Co., Ltd.
The account age is long
Wang Changlong 2,370,760.40 2,370,760.40 100% and is not expected to
be recovered
Huizhou Jiandacheng
The account age is long
Daoqiao Engineering 2,021,657.70 2,021,657.70 100% and is not expected to
be recovered
Company
Jiangling Automobile The account age is long
1,191,059.98 1,191,059.98 100% and is not expected to
Factory be recovered
Yangjiang Auto Trade The account age is long
1,150,000.00 1,150,000.00 100% and is not expected to
Co., Ltd. be recovered
Guangdong Materials The account age is long
1,862,000.00 1,862,000.00 100% and is not expected to
Group Corp be recovered
Accrual of the bad debt
Shenzhen Nuoqi in line with provision
20,014,924.00 200,149.24 1%
Jewelry Co., Ltd. for the single large
amount
The account age is long
Other 26,279,070.64 26,279,070.64 100% and is not expected to
be recovered
Total 68,796,409.16 48,981,634.40
Bad debt provision accrual on portfolio:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Aging portfolio 35,517,001.20 183,413.13 0.52%
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses, please
refer to the disclosure of other account receivables to disclose related information about bad-debt provisions:
□ Applicable √Not applicable
By account age
Unit: RMB/CNY
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Account age Ending balance
Within one year (including one year) 35,513,641.20
1-2 years
2- 3 years 3,360.00
Over 3 years 68,796,409.16
Over 5 years 68,796,409.16
Total 104,313,410.36
(2) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Account
receivable with
bad debt
48,781,485.16 200,149.24 48,981,634.40
provision
accrual on a
single basis
Account
receivable with
bad debt
183,413.13 183,413.13
provision
accrual on
portfolio
Total 48,964,898.29 200,149.24 49,165,047.53
(3) Top 5 account receivables at ending balance by arrears party
Unit: RMB/CNY
Ending balance of accounts Proportion in total receivables Bad debt preparation ending
Enterprise
receivable at ending balance balance
Shenzhen Jinlu Industry and
9,846,607.00 9.44% 9,846,607.00
Trade Co., Ltd.
Guangdong Zhanjiang
Sanxing Auto Service Co., 4,060,329.44 3.89% 4,060,329.44
Ltd.
Shenzhen Shangjinyuan
3,358,649.44 3.22% 29,810.07
Jewelry Industry Co., Ltd.
Wang Changlong 2,370,760.40 2.27% 2,370,760.40
Guangdong Materials Group 2,021,657.70 1.94% 2,021,657.70
Total 21,658,003.98 20.76%
4. Accounts paid in advance
(1) By account age
Unit: RMB/CNY
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Ending balance Opening balance
Account age
Amount Ratio Amount Ratio
Within one year 13,880,282.14 99.91% 16,519,701.91 99.92%
Over 3 years 12,525.94 0.09% 12,525.94 0.08%
Total 13,892,808.08 16,532,227.85
(2) Top 5 account paid in advance at ending balance by prepayment object
Name Ending balance Proportion in prepayment balance at the end of
period
FAW Toyota Motor Sales Co., Ltd. 9,374,525.58 67.48%
Toyota Motor (China) Investment Co., Ltd. 1,264,424.00 9.10%
Kingdee Software (China) Co., Ltd. 1,012,679.25 7.29%
Xiaopeng Automobile Sales Co., Ltd. 842,355.78 6.06%
Shenzhen Wonder Construction Group Co., Ltd. 361,025.45 2.60%
Total 12,855,010.06 92.53%
5. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Interest receivable 0.00 0.00
Dividends receivable 547,184.35 547,184.35
Other account receivable 7,007,270.18 4,525,786.42
Total 7,554,454.53 5,072,970.77
(1) Interest receivable
Not applicable
3) Provision for bad debts
□ Applicable √Not applicable
(2) Dividends receivable
1) Category
Unit: RMB/CNY
Item (or invested unit) Ending balance Opening balance
China Pudong Development Machinery
547,184.35 547,184.35
Industry Co., Ltd
Total 547,184.35 547,184.35
2) Important dividend receivable with account age over one year
Unit: RMB/CNY
Item (or invested unit) Ending balance Account age Reasons for non- Whether there is
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recovery impairment and its
judgment basis
The enterprise has a
normal financial status
China Pudong
and operation
Development
547,184.35 2-3 years Not yet paid conditions, the
Machinery Industry
dividend receivable
Co., Ltd
have not been
impaired.
Total 547,184.35
3) Provision for bad debts
□ Applicable √Not applicable
(3) Other account receivable
1) By nature
Unit: RMB/CNY
Nature Ending book balance Opening book balance
Deposit margin 1,652,247.03 598,861.89
Reserve fund 120,000.00 0
Interim payment receivable 56,976,953.77 104,970,218.27
Total 58,749,200.80 105,569,080.16
2) Provision for bad debts
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses Expected credit losses
Bad debt provision Expected credit losses for the entire duration for the entire duration Total
over next 12 months (without credit (with credit impairment
impairment occurred) occurred)
Balance on Jan. 1,
58,951.65 51,682,978.97 51,741,930.62
2022
Balance of Jan. 1, 2022
in the period
Balance on Jun. 30,
58,951.65 51,682,978.97 51,741,930.62
2022
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within one year (including one year) 4,066,926.42
1-2 years 531,458.10
2-3 years 82,621.56
Over 3 years 54,068,194.72
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Over 5 years 54,068,194.72
Total 58,749,200.80
3) Bad debt provision accrual, collected or reversal in the period
Not applicable
4) Other account receivable actually written-off in the period
Not applicable
5) Top 5 other receivables at ending balance by arrears party
Unit: RMB/CNY
Ratio in total
ending balance of Ending balance of
Enterprise Nature Ending balance Account age
other account bad debt reserve
receivables
Zhongqi South
China Auto Sales Intercourse funds 9,832,956.37 Over 3 years 16.74% 9,832,956.37
Company
South Industry &
TRADE Shenzhen
Intercourse funds 7,359,060.75 Over 3 years 12.53% 7,359,060.75
Industrial
Company
Shenzhen
Zhonghao (Group) Intercourse funds 5,000,000.00 Over 3 years 8.51% 5,000,000.00
Co., Ltd
Shenzhen Kaifeng
Special
Intercourse funds 4,413,728.50 Over 3 years 7.51% 2,206,864.25
Automobile
Industry Co., Ltd.
Shenzhen Gold
Beili Electrical
Intercourse funds 2,706,983.51 Over 3 years 4.61% 2,706,983.51
Appliances Co.,
Ltd.
Total 29,312,729.13 49.89% 27,105,864.88
6) Other account receivables related to government grants
Not applicable
7) Other receivable for termination of confirmation due to the transfer of financial assets
Not applicable
- 119
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
8) The amount of assets and liabilities that are transferred other receivable and continued to be involved
Not applicable
6. Inventories
Does the company need to comply with the disclosure requirements of the real estate industry
No
(1) Category
Unit: RMB/CNY
Ending balance Opening balance
Provision for Provision for
inventory inventory
Item depreciation or depreciation or
Book balance contract Book value Book balance contract Book value
performance performance
cost impairment cost impairment
provision provision
Raw materials 15,829,602.24 14,772,382.17 1,057,220.07 15,814,028.99 14,772,382.17 1,041,646.82
Inventory 41,486,464.73 15,117,773.94 26,368,690.79 39,261,052.16 14,867,773.94 24,393,278.22
Total 57,316,066.97 29,890,156.11 27,425,910.86 55,075,081.15 29,640,156.11 25,434,925.04
(2) Provision for inventory depreciation or contract performance cost impairment provision
Unit: RMB/CNY
Current amount increased Current amount decreased
Item Opening balance Reversal or Ending balance
Accrual Other Other
write-off
Raw materials 14,772,382.17 14,772,382.17
Inventory 14,867,773.94 250,000.00 15,117,773.94
Total 29,640,156.11 250,000.00 29,890,156.11
(3) Explanation on inventories with capitalization of borrowing costs included at ending balance
Not applicable
(4) Description of the current amortization amount of contract performance costs
Not applicable
7. Other current assets
Unit: RMB/CNY
Item Ending balance Opening balance
Reclassification of the VAT debit balance 3,630,901.41 8,596,585.57
Total 3,630,901.41 8,596,585.57
- 120
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
8. Long-term account receivable
(1) Long-term account receivable
Unit: RMB/CNY
Ending balance Opening balance Discount
Item Bad debt Book Bad debt Book rate
Book balance Book balance interval
provision value provision value
Related
2,179,203.68 2,179,203.68 0.00 2,179,203.68 2,179,203.68 0.00
transactions
Total 2,179,203.68 2,179,203.68 0.00 2,179,203.68 2,179,203.68 0.00
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
9. Long-term equity investment
Unit: RMB/CNY
Current changes (+, -)
Ending
Openin Investm Cash balance
Other Accrual Ending
The g ent dividen of
Additio compre of balance
investe balance Capital gains Other d or impair
nal hensive impair (book
d entity (book reducti recogni equity profit Other ment
investm income ment value)
value) on zed change announ provisi
ent adjustm provisi
under ced to on
ent on
equity issued
I. Joint venture
Shenzh
en
Tellus
47,490, 8,739,1 15,000, 41,229,
Gman
Investm 740.78 42.07 000.00 882.85
ent Co.,
Ltd
Shenzh
en
Tellus
Hang
13,452, 350,111 13,802,
Investm
ent Co., 222.35 .20 333.55
Ltd.
[Note
5]
Subtota 60,942, 9,089,2 15,000, 55,032,
l 963.13 53.27 000.00 216.40
II. Associated enterprise
Shenzh
en
Zung
Fu -
27,367, 26,206,
Tellus 1,161,4
904.34 438.65
Auto 65.69
Service
Co.,
Ltd.
Shenzh
en
Autom
- 121
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
obile
Industr
y
Import
and
Export
Co.,
Ltd.
Shenzh
en
Xinyon
gtong
Oil
127,836
Pump
.59
Environ
ment
Protecti
on Co.,
Ltd.
Shenzh
en
Xinyon
41,556.
gtong
83
Consult
ant Co.,
Ltd.
Shenzh
en
Tellus
Autom
obile
Service
Chain
Co.,
Ltd.
[Note
3]
Shenzh
en
Xinyon
gtong
Auto
Service
Co.,
Ltd.
[Note
3]
Shenzh
en
Xinyon
gtong
Dongxi
ao Auto
Service
Co.,
Ltd.
Shenzh
en
- 122
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Yongto
ng
Xinda
Inspecti
on
Equipm
ent Co.,
Ltd.
[Note
3]
Hunan
Changy
ang
Industri 1,810,5
al Co., 40.70
Ltd.
[Note
1]
Shenzh
en
Jiechen
g
3,225,0
Electro
00.00
nic Co.,
Ltd.
[Note
1]
Shenzh
en
Xianda
o New
4,751,6
Materia
21.62
ls Co.,
Ltd.
[Note
1]
China
Auto
Industri
al
Shenzh
400,000
en
.00
Trading
Compa
ny
[Note
1]
Shenzh
en
General
Standar 500,000
d Co., .00
Ltd.
[Note
1]
Shenzh
2,250,0
en
00.00
Zhongq
- 123
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
i South
China
Auto
Sales
Compa
ny
[Note
1]
Shenzh
en
Bailiyu
an
Power 1,320,0
Supply 00.00
Co.,
Ltd.
[Note
1]
Shenzh
en
Yimin
Auto
200,001
Trading
.10
Compa
ny
[Note
1]
Shenzh
en
Torch
Spark
17,849.
Plug
20
Industr
y
Compa
ny
Shenzh
en
Hanli
High-
Tech 1,956,0
Cerami 00.00
cs Co.,
Ltd.
[Note
2]
Shenzh
en
South
Autom
6,700,0
obile
00.00
Repair
Center
[Note
2]
-
Subtota 27,367, 26,206, 23,300,
1,161,4
l 904.34 438.65 406.04
65.69
- 124
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
88,310, 7,927,7 15,000, 81,238, 23,300,
Total
867.47 87.58 000.00 655.05 406.04
Other explanation
Note 1: Business registration of the above companies have been revoked and the Company has made a full provision for impairment
of these long-term equity investment.
Note 2: Operating period of Shenzhen Hanli High-Tech Ceramics Co., Ltd is from September 21, 1993 to September 21, 1998;
operating period of Shenzhen South Automobile Repair Center is from July 12, 1994 to July 11, 2002. the companies have ceased their
business activities for many years, business registration have been revoked for failure to participate in annual inspection. It is unable
to exercise effective control over these companies, which are excluded in the scope of consolidation statement, and the carrying value
of the investment in those companies is Zero.
Note 3: the carrying amount of these long-term equity investment was 0 yuan after adjusting for the recognition of gain/loss under the
equity method
Note 4: equity of the enterprise held by the Company have been transferred in the Period.
Note 5: we has a 51% equity of the enterprise. According to relevant regulation of the Article of Association, the voting rights held by
the Company are not sufficient to unilaterally pass the votes of the shareholders’ meeting and BOD on the relevant decision-making
motions, the Company does not control the enterprise
10. Other equity instrument investment
Unit: RMB/CNY
Item Ending balance Opening balance
Unlisted equity instrument investment 10,176,617.20 10,176,617.20
Total 10,176,617.20 10,176,617.20
Itemized disclosure of investment in non-trading equity instruments for the current period
Unit: RMB/CNY
The reason for
the designation
The amount of
as being Reasons for
other
measured at fair transferring
Recognized comprehensive
Cumulative Accumulated value and the other
Item dividend income
gain loss change comprehensive
income transferred to
included in income to
retained
other retained income
earnings
comprehensive
income
China Pudong Strategic
Development investment that
Machinery is expected to
Industry Co., be held for a
Ltd. long time
- 125
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
11. Investment real estate
(1) Measured at cost
√ Applicable □Not applicable
Unit: RMB/CNY
Construction in
Item House and building Land use right Total
progress
I. Original book value
1.Opening balance 645,997,222.66 49,079,520.00 695,076,742.66
2.Current amount
increased
(1) Outsourcing
(2) Inventory\fixed
assets\construction in
process transfer-in
3.Current amount
decreased
(1) Disposal
(2) Other transfer-out
4.Ending balance 645,997,222.66 49,079,520.00 695,076,742.66
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 140,347,117.08 3,346,331.04 143,693,448.12
2.Current amount
9,305,204.58 557,724.18 9,862,928.76
increased
(1) Accrual or
9,305,204.58 557,724.18 9,862,928.76
amortization
3.Current amount
decreased
(1) Disposal
(2) Other transfer-out
4.Ending balance 149,652,321.66 3,904,055.22 153,556,376.88
III. Impairment
provision
1.Opening balance
2.Current amount
increased
(1)Accrual
3.Current amount
decreased
(1) Disposal
(2) Other transfer-out
4.Ending balance
IV. Book value
- 126
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
1.Ending book value 496,344,901.00 45,175,464.78 541,520,365.78
2. Opening book value 505,650,105.58 45,733,188.96 551,383,294.54
(2) Measure at fair value
□ Applicable √Not applicable
(3) Investment real estate without property certificate completed
Item Book value Reasons
Failure to handle the ownership certificate
Nuclear Office build 4,280,281.38
for historical reasons
Failure to handle the ownership certificate
12 buildings in Sungang 12,588.53
for historical reasons
Failure to handle the ownership certificate
12 building shops in Sungang 38,916.87
for historical reasons
Total 4,331,786.78
12. Fixed assets
Unit: RMB/CNY
Item Ending balance Opening balance
Fixed assets 112,837,946.28 109,438,198.23
Total 112,837,946.28 109,438,198.23
(1) Fixed assets
Unit: RMB/CNY
House and Machinery Transport Electronic Office and other
Item Total
buildings equipment equipment equipment equipment
I. Original book value:
1.Opening balance 274,856,177.01 22,226,232.29 5,835,922.65 12,344,805.36 7,850,954.29 323,114,091.60
2.Current amount
8,535,210.00 12,649.56 155,178.10 359,332.64 117,820.93 9,180,191.23
increased
(1) Purchase 8,535,210.00 12,649.56 9,180,191.23
(2) Transfer of
construction in progress
3.Current amount
515,733.46 2,819.66
decreased
(1) Disposal or
515,733.46 2,819.66
scrap
4.Ending balance 283,391,387.01 22,238,881.85 5,475,367.29 12,701,318.34 7,968,775.22 331,775,729.71
II. Accumulated
depreciation
1.Opening balance 184,795,722.04 9,720,537.85 3,555,622.71 8,426,565.35 2,931,992.36 209,430,440.31
2.Current amount
3,763,028.26 614,348.36 248,175.17 417,954.87 457,951.43 5,501,458.09
increased
- 127
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
(1)Accrual 3,763,028.26 614,348.36 248,175.17 417,954.87 457,951.43 5,501,458.09
3.Current amount
237,030.34 2,537.69 239,568.03
decreased
(1) Disposal or
237,030.34 2,537.69 239,568.03
scrap
4.Ending balance 188,558,750.30 10,334,886.21 3,803,797.88 8,844,520.22 3,389,943.79 214,692,330.37
III. Impairment provision
1.Opening balance 3,836,768.43 319,675.11 6,165.00 17,984.71 64,859.81 4,245,453.06
2.Current amount
increased
(1)Accrual
3.Current amount
decreased
(1) Disposal or
scrap
4.Ending balance 3,836,768.43 319,675.11 6,165.00 17,984.71 64,859.81 4,245,453.06
IV. Book value
1.Ending book value 90,995,868.28 11,584,320.53 1,665,404.41 3,838,813.41 4,513,971.62 112,837,946.28
2. Opening book value 86,223,686.54 12,186,019.33 2,274,134.94 3,900,255.30 4,854,102.12 109,438,198.23
(2) Temporarily idle fixed assets
Not applicable
(3) Fixed assets leased out by operation
Not applicable
(4) Fix assets without property certification held
Unit: RMB/CNY
Reasons for without the property
Item Book value
certification
Failure to handle the ownership
Yongtong Building 28,396,915.34
certificate for historical reasons
Failure to handle the ownership
Automotive building 14,629,948.69
certificate for historical reasons
Tellus Building underground parking Parking lot is un-able to carried out the
8,477,976.20
certificate
1#,2# and 3-5/F 3# plant of Taoyuan Failure to handle the ownership
3,265,867.51
certificate for historical reasons
Road
Tellus Building transformation layer 1,426,541.48 Un-able to carried out the certificate
Failure to handle the ownership
16# Taohua Garden 1,252,104.42
certificate for historical reasons
Shuibei Zhongtian comprehensive Failure to handle the ownership
661,581.60
certificate for historical reasons
building
- 128
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
First floor of Bao’an commercial- Failure to handle the ownership
817,290.20
certificate for historical reasons
residence build
Failure to handle the ownership
Warehouse 795,291.01
certificate for historical reasons
Failure to handle the ownership
Trade department warehouse 63,803.65
certificate for historical reasons
Failure to handle the ownership
Songquan Apartment (mixed) 10,086.79
certificate for historical reasons
Failure to handle the ownership
Hostel of Renmin North Road 5,902.41
certificate for historical reasons
Subtotal 59,803,309.30
13. Construction in progress
Unit: RMB/CNY
Item Ending balance Opening balance
Construction in progress 261,124,333.54 210,197,546.72
Total 261,124,333.54 210,197,546.72
(1) Construction in progress
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Tellus Jinzhuan
Trading 260,999,489.22 260,999,489.22 210,072,702.40 210,072,702.40
Building
Other projects 124,844.32 124,844.32 124,844.32 124,844.32
Total 261,124,333.54 261,124,333.54 210,197,546.72 210,197,546.72
(2) Changes of major construction in progress
Unit: RMB/CNY
Includi
ng:
Propor Accum
Curren amoun Interes
Other tion of ulated
Openi t Transf t of t
decrea Ending project capital Source
ng amoun er-in Progre capital capital
Item Budget sed in balanc invest ization s of
balanc t fixed ss ization ization
the e ment of funds
e increas assets of rate in
Period in interes
ed interes Period
budget t
t in
Period
Tellus
Jinzhu Financ
an 515,46 210,07 50,926 260,99 ial
50.63 50.63 4,050, 4,050, 100.00
Tradin 0,000. 2,702. ,786.8 9,489. Institut
g % % 285.57 285.57 %
00 40 2 22 ion
Buildi Loans
ng
515,46 210,07 50,926 260,99
4,050, 4,050, 100.00
Total 0,000. 2,702. ,786.8 9,489.
285.57 285.57 %
00 40 2 22
- 129
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
14. Right-of-use asset
Unit: RMB/CNY
Item House and buildings Total
I. Original book value:
1.Opening balance 10,313,192.96 10,313,192.96
2.Current amount increased
3.Current amount decreased
4.Ending balance 10,313,192.96 10,313,192.96
II. Accumulated depreciation
1.Opening balance 2,976,277.13 2,976,277.13
2.Current amount increased 823,543.50 823,543.50
(1)Accrual 823,543.50 823,543.50
3.Current amount decreased
(1) Disposal
4.Ending balance 3,799,820.63 3,799,820.63
III. Impairment provision
1.Opening balance
2.Current amount increased
(1)Accrual
3.Current amount decreased
(1) Disposal
4.Ending balance
IV. Book value
1.Ending book value 6,513,372.33 6,513,372.33
2. Opening book value 7,336,915.83 7,336,915.83
15. Intangible assets
(1) Intangible assets
Unit: RMB/CNY
Non-patented
Item Land use right Patent rights Trademark Software Total
technology
I. Original book
value
1.Opening
50,661,450.00 128,500.00 5,470,373.66 56,260,323.66
balance
2.Current
amount
increased
3.Current
amount
- 130
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
decreased
(1)
Disposal
4.Ending
50,661,450.00 128,500.00 5,470,373.66 56,260,323.66
balance
II. Accumulated
amortization
1.Opening
2,867,902.16 99,042.56 3,703,880.66 6,670,825.38
balance
2.Current
amount 538,721.58 2,034.96 82,405.16 623,161.70
increased
(1)Ac
538,721.58 2,034.96 82,405.16 623,161.70
crual
3.Current
amount
decreased
(1)
Disposal
4.Ending
3,406,623.74 101,077.52 3,786,285.82 7,293,987.08
balance
III. Impairment
provision
1.Opening
balance
2.Current
amount
increased
(1)Ac
crual
3.Current
amount
decreased
(1)
Disposal
4.Ending
balance
IV. Book value
1.Ending
47,254,826.26 27,422.48 1,684,087.84 48,966,336.58
book value
2. Opening
47,793,547.84 29,457.44 1,766,493.00 49,589,498.28
book value
16. Long-term expenses to be apportioned
Unit: RMB/CNY
Current amount Current
Item Opening balance Other decreased Ending balance
increased amortization
- 131
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Renovation costs 28,682,636.66 487,995.85 2,321,921.53 26,848,710.98
Total 28,682,636.66 487,995.85 2,321,921.53 26,848,710.98
17. Deferred income tax asset /Deferred income tax liabilities
(1) Deferred income tax assets without offset
Unit: RMB/CNY
Ending balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Credit impairment
33,998,204.12 8,499,551.03 33,998,204.09 8,499,551.03
provision
Total 33,998,204.12 8,499,551.03 33,998,204.09 8,499,551.03
(2) Deferred income tax liability without offset
Unit: RMB/CNY
Ending balance Opening balance
Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
Taxable temporary
3,852,181.96 963,045.49 3,852,181.96 963,045.49
differences
Total 3,852,181.96 963,045.49 3,852,181.96 963,045.49
(3) Deferred income tax assets and deferred income tax liabilities listed after off-set
Unit: RMB/CNY
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Item deferred income tax
assets or liabilities after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred income tax
8,499,551.03 8,499,551.03
assets
Deferred income tax
963,045.49 963,045.49
liabilities
(4) Details of uncertain deferred income tax assets
Unit: RMB/CNY
Item Ending balance Opening balance
Deductible temporary differences 126,273,992.95 126,073,843.71
Deductible loss 19,228,072.00 19,228,072.00
Total 145,502,064.95 145,301,915.71
(5) Deductible losses of un-recognized deferred income tax assets expired on the followed year
Unit: RMB/CNY
Year Ending amount Opening amount Note
2022 330,146.48 330,146.48
2023 401,294.00 401,294.00
2024 497,832.28 497,832.28
- 132
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
2025 9,182,475.07 9,182,475.07
2026 8,816,324.17 8,816,324.17
Total 19,228,072.00 19,228,072.00
18. Other non-current asset
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Advance
payment for
42,300,204.90 42,300,204.90 56,169,049.73 56,169,049.73
engineering
equipment
VAT to be
deducted (input
tax on 12,204,839.26 12,204,839.26 12,204,839.26 12,204,839.26
engineering and
equipment)
Other 100,000.00 100,000.00 100,000.00 100,000.00
Total 54,605,044.16 54,605,044.16 68,473,888.99 68,473,888.99
19. Account payable
(1) Account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Purchase of goods and services 9,121,414.90 4,068,460.06
Engineering equipment 60,657,468.31 63,339,302.97
Total 69,778,883.21 67,407,763.03
(2) Major accounts payable with age over one year
Unit: RMB/CNY
Item Ending balance Reasons of outstanding or carry-over
Shenzhen Yinglong Jian’an (Group) Co.,
29,695,887.90 Project unsettled
Ltd.
Shenzhen SDG Real Estate Co., Ltd 6,054,855.46 Unrepayment from related enterprise
Shenzhen Yinuo Construction
3,555,095.22 Project unsettled
Engineering Co., Ltd.
Shenzhen Cuilu Jewelry Co., Ltd. 1,120,000.00 Project unsettled
Total 40,425,838.58
20. Accounts received in advance
(1) Accounts received in advance
Unit: RMB/CNY
Item Ending balance Opening balance
- 133
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Rent 10,861,839.87 1,827,827.28
Total 10,861,839.87 1,827,827.28
21. Contractual liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Advance payment 6,474,665.61 17,959,187.61
Pre-collected service fee 3,693,924.78 3,100,123.57
Total 10,168,590.39 21,059,311.18
22. Wage payable
(1) Wage payable
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
I. Short-term
38,893,597.75 32,089,862.24 29,434,049.42 41,549,410.57
compensation
II. After-service
welfare-defined 2,946,118.91 2,946,118.91
contribution plans
III. Dismissed welfare 164,485.00 164,485.00
Total 38,893,597.75 35,200,466.15 32,544,653.33 41,549,410.57
(2) Short-term compensation
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
1. Wage, bonus, allowance
38,284,893.23 24,557,518.38 22,318,845.89 40,523,565.72
and subsidy
2. Employees’ welfare 410,244.25 924,408.26 532,604.01 802,048.50
3. Social insurance charges 4,185,930.50 4,185,930.50
Including: medical
4,042,348.97 4,042,348.97
insurance premium
Industrial injury
22,413.40 22,413.40
insurance premiums
Maternity insurance
88,062.65 88,062.65
premiums
Other 33,105.48 33,105.48
4. Housing public reserve 1,935,484.78 1,935,484.78
5. Trade union fee and
198,460.27 486,520.32 461,184.24 223,796.35
education fee
Total 38,893,597.75 32,089,862.24 29,434,049.42 41,549,410.57
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
(3) Defined contribution plans
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
1. Basic endowment
2,917,225.43 2,917,225.43
insurance premiums
2. Unemployment
28,893.48 28,893.48
insurance premiums
Total 2,946,118.91 2,946,118.91
23. Taxes payable
Unit: RMB/CNY
Item Ending balance Opening balance
VAT 1,589,744.77 808,520.40
Enterprise income tax 9,470,044.63 7,964.60
Personal income tax 604,864.12 105,706.61
Urban maintenance and construction tax 34,608.47 47,558.24
Land VAT 5,407,284.90 31,705.50
House property tax 3,595,591.57 41,276,334.18
Use tax of land 211,756.28 512,260.46
Educational surtax 2,657.88 5,362,682.64
Local education surcharges 361.01 26,459.98
Other tax 138,399.81 342,907.84
Total 21,055,313.44 48,522,100.45
24. Other account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Interest payable 0.00 0.00
Dividend payable 0.00 0.00
Other account payable 115,063,036.77 112,617,963.65
Total 115,063,036.77 112,617,963.65
(1) Other account payable
1) By nature
Unit: RMB/CNY
Item Ending balance Opening balance
Deposit margin 41,896,024.19 41,657,964.73
Related transactions 30,025,023.86 24,146,524.51
Withholding payments 9,858,819.35 15,417,939.62
Payable interim payment 33,283,169.37 31,395,534.79
Total 115,063,036.77 112,617,963.65
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
2) Significant other account payable with over one year age
Unit: RMB/CNY
Item Ending balance Reasons for non-repayment or carry-over
Shenzhen Special Development Group Related company non-repayment
12,369,413.94
Co., Ltd.
Hong Kong Yujia Investment Co., Ltd. 1,961,673.06 Related company non-repayment
Total 14,331,087.00
25. Non-current liabilities due within one year
Unit: RMB/CNY
Item Ending balance Opening balance
Lease liabilities due within one year 2,884,263.93 3,021,452.25
Total 2,884,263.93 3,021,452.25
26. Other current liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Tax amount to be written off 601,487.93 2,367,994.70
Total 601,487.93 2,367,994.70
27. Long-term loans
(1) Classification of long-term loans
Unit: RMB/CNY
Item Ending balance Opening balance
Mortgage loan 121,670,407.44 86,875,874.39
Total 121,670,407.44 86,875,874.39
28. Lease liability
Unit: RMB/CNY
Item Ending balance Opening balance
Lease liability 3,963,266.13 4,474,543.09
Total 3,963,266.13 4,474,543.09
29. Long-term account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Long-term account payable 3,920,160.36 3,920,160.36
Total 3,920,160.36 3,920,160.36
- 136
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
(1) By nature
Unit: RMB/CNY
Item Ending balance Opening balance
Deposit of staff residence 3,908,848.40 3,908,848.40
Allocation for technology innovation
11,311.96 11,311.96
projects
30. Accrual liabilities
Unit: RMB/CNY
Item Ending balance Opening balance Causes
Pending litigation 268,414.80 268,414.80
Total 268,414.80 268,414.80
31. Deferred income
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance Causes
Receive
Government
10,235,331.21 677,196.54 9,558,134.67 government
subsidies
subsidies
Total 10,235,331.21 677,196.54 9,558,134.67
Item with government grants involved:
Unit: RMB/CNY
Amount
Amount Cost
New grants reckoned in Assets
Opening reckoned in reduction Other Ending
Liability in the non- related/inco
balance other in the changes balance
Period operation me related
income period
revenue
Elevator
Renewal
Subsidy
Fund for
Futian Assets
111,188.09 111,188.09
District Old related
Elevator
Renovation
Working
Group
Luohu
District
2021
special
funds for 3,511,821.2 Assets
3,511,821.20
industrial 0 related
transformat
ion and
upgrading-
industry
- 137
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
service
platform
Luohu
District
2021
special
funds for
industrial
2,364,130.4 Assets
transformat 2,364,130.45
5 related
ion and
upgrading-
Green
building
support
subsidy
Subsidy
revenue
from the
Shenzhen
Municipal
Bureau of
Commerce 4,248,191.4 Assets
4,248,191.47
in 2020 to 7 related
promote
consumptio
n to
enhance the
support
project
32. Share capital
Unit: RMB/CNY
Increased (decreased) in this period+, -
Opening Shares Ending
New shares converted
balance Bonus shares Other Subtotal balance
issued from public
reserve
431,058,320. 431,058,320.
Total shares
00 00
33. Capital public reserve
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Capital premium
(Share capital 425,768,053.35 425,768,053.35
premium)
Other capital reserve 5,681,501.16 5,681,501.16
Total 431,449,554.51 431,449,554.51
34. Other comprehensive income
Unit: RMB/CNY
Current Period
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Less: Less:
written in written in
other other
comprehen comprehen
sive sive
Account income in income in Belong to Belong to
Less:
Opening before previous previous parent minority Ending
Item income tax
balance income tax period and period and company shareholders balance
expense
in the period carried carried after tax after tax
forward to forward to
gains and retained
losses in earnings in
current current
period period
II. Other
comprehen
sive
income
items
which will 26,422.00 26,422.00
be
reclassified
subsequentl
y to profit
or loss
Including:
Other
comprehen
sive
income
26,422.00 26,422.00
under
equity
method that
can transfer
to gain/loss
Total other
comprehen
26,422.00 26,422.00
sive
income
35. Surplus public reserve
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Statutory surplus
26,546,480.09 26,546,480.09
reserves
Total 26,546,480.09 26,546,480.09
36. Retained profit
Unit: RMB/CNY
Item Current period Last period
Retained profit at the end of the previous
543,843,496.85 424,141,893.34
period before adjustment
Total retained profit at the beginning of
543,843,496.85 424,141,893.34
the previous period before adjustment
Add: net profit attributable to
43,480,236.19 44,542,715.32
shareholder of parent company
- 139
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Common stock dividends payable 10,781,545.75 8,621,166.40
Retained profit at period-end 576,542,187.29 460,063,442.26
37. Operating income and operating cost
Unit: RMB/CNY
Current period Last period
Item
Income Cost Income Cost
Main business 245,186,251.37 187,271,730.10 244,632,938.62 172,326,102.86
Other business 4,828,900.86 1,072,447.45 4,859,322.62 987,151.10
Total 250,015,152.23 188,344,177.55 249,492,261.24 173,313,253.96
Income related information:
Unit: RMB/CNY
Contract Auto maintenance Lease and service Jewelry sales and
Auto sales Total
classification and inspection service
Product types
Including:
Auto sales 90,748,050.16 90,748,050.16
Auto maintenance 21,877,337.87
11,522,091.64
and inspection
Lease and service 89,143,718.75
99,498,964.98
Jewelry sales and
48,246,045.45 48,246,045.45
service
Classified by
business area
Including:
21,877,337.87 89,143,718.75
Shenzhen 90,748,050.16 48,246,045.45 250,015,152.23
Market or
customer type
Including:
Contract type
Including:
Classification by
time of goods
transfer
Including:
Classification by
contract duration
Including:
Classification by
sales channel
Including:
Total 90,748,050.16 11,522,091.64 99,498,964.98 48,246,045.45 250,015,152.23
Information relating to performance obligations: nil
- 140
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
38. Tax and surcharges
Unit: RMB/CNY
Item Current period Last period
Urban maintenance and construction tax 179,352.95 373,364.45
Education surcharge 127,757.65 266,566.48
House property tax 3,595,591.57 1,750,236.76
Use tax of land 229,898.56 132,393.16
Stamp duty 133,976.69 88,215.19
Other taxes 2,670.00 3,380.00
Total 4,269,247.42 2,614,156.04
39. Sales expenses
Unit: RMB/CNY
Item Current period Last period
Staff remuneration 6,697,191.21 6,414,558.14
Advertising and exhibition expenses 355,969.09 813,955.93
Depreciation and amortization 1,835,480.94 2,066,128.41
Office expenses 294,600.87 202,242.09
Property and utilities 239,436.33 433,397.24
Transportation and business trip cost 173,322.82 114,255.71
Insurance supervision fee 102,004.55 476,862.25
Other 1,249,312.34 1,480,912.25
Total 10,947,318.15 12,002,312.02
40. Administration expenses
Unit: RMB/CNY
Item Current period Last period
Staff remuneration 15,547,995.24 16,070,330.49
Office expenses 231,630.78 248,988.77
Transportation and business trip cost 18,250.52 124,886.80
Business entertainment expenses 130,553.80 170,483.29
Depreciation and amortization 1,513,826.81 1,614,251.84
Intermediary agency service fee 1,223,090.79 1,285,160.67
Other 1,167,569.27 1,293,372.83
Total 19,832,917.21 20,807,474.69
41. Financial expenses
Unit: RMB/CNY
Item Current period Last period
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Interest expenses 2,303,220.59 1,747,427.56
Less: Interest income 2,843,386.98 1,719,072.96
Less: interest capitalized amount 2,194,828.71 547,427.56
Exchange loss -65,959.60 -7,790.79
Other 99,398.31 122,303.86
Total -2,701,556.39 -404,559.89
42. Other income
Unit: RMB/CNY
Sources Current period Last period
Handling fee refund for withholding
50,129.40 4,082.49
personal income tax
Other 1,525,860.90 322,337.67
43. Investment income
Unit: RMB/CNY
Item Current period Last period
Long-term equity investment income
7,927,787.58 9,683,638.47
measured by equity
Investment income of trading financial
6,774,748.47 4,712,120.21
assets during the holding period
Investment income from disposal of
8,785,410.47
trading financial assets
Total 23,487,946.52 14,395,758.68
44. Income of fair value changes
Unit: RMB/CNY
Sources Current period Last period
Trading financial assets -617,068.50 -418,952.05
Total -617,068.50 -418,952.05
45. Credit impairment loss
Unit: RMB/CNY
Item Current period Last period
Loss of bad debt of other account
-200,149.24
receivable
Total -200,149.24 0.00
46. Non-operating income
Unit: RMB/CNY
Amount included in the
Item Current period Last period current non-recurring profit
and loss
Other 295,807.48 72,884.60 295,807.48
Total 295,807.48 72,884.60 295,807.48
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
47. Non-operating expenditure
Unit: RMB/CNY
Amount included in the
Item Current period Last period current non-recurring profit
and loss
Other 237.72 9,945.86 237.72
Total 237.72 9,945.86 237.72
48. Income tax expense
(1) Income tax expense
Unit: RMB/CNY
Item Current period Last period
Current income tax expenses 10,808,747.89 11,085,413.51
Total 10,808,747.89 11,085,413.51
(2) Adjustment process of accounting profit and income tax expenses
Unit: RMB/CNY
Item Current period
Total profit 53,906,103.05
Income tax expenses calculated by statutory tax rate 13,476,525.76
Impact by different tax rate applied by subsidies -23,350.94
Impact of non taxable income -1,981,946.90
Unrecognized impacts of deductible temporary differences or
-662,480.04
deductible losses on deferred income tax assets in the period
Income tax expenses 10,808,747.89
49. Other comprehensive income
More of “Other comprehensive income” and income tax effect and transfer to gain/loss as well as the reconciliation
of various items of other comprehensive income found in 34. Other comprehensive income in Note VI
50. Annotation of cash flow statement
(1) Cash received with other operating activities concerned
Unit: RMB/CNY
Item Current period Last period
Deposit margin 3,980,878.67 9,160,722.91
Interest income 2,843,386.98 1,719,072.96
Intercourse funds and other 88,610,563.21 62,509,088.41
Total 95,434,828.86 73,388,884.28
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
(2) Cash paid with other operating activities concerned
Unit: RMB/CNY
Item Current period Last period
Cash paid 20,599,573.29 28,551,813.16
Deposit margin 4,263,044.41 6,501,628.21
Intercourse funds and other 72,184,949.67 42,275,584.65
Total 97,047,567.37 77,329,026.02
(3) Cash paid related with investment activities
Unit: RMB/CNY
Item Current period Last period
Import & export equity transfer listing
fee on United Property and Equity 18,669.20
Exchange
Total 18,669.20 0.00
51. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
Unit: RMB/CNY
Supplementary information Current period Last period
1. Net profit adjusted to cash flow of
operation activities:
Net profit 43,097,355.16 44,496,619.21
Add: Impairment provision for assets
Depreciation of fixed assets,
consumption of oil assets and 15,364,386.85 15,293,526.20
depreciation of productive biology assets
Depreciation of right-of-use assets
Amortization of intangible assets 623,161.70 716,715.48
Amortization of long-term pending
2,321,921.53 2,080,287.58
expenses
Loss from disposal of fixed assets,
intangible assets and other long-term -40,765.92 -56,242.77
assets (income is listed with “-”)
Losses on scrapping of fixed assets
237.72
(income is listed with “-“)
Loss from change of fair value (income
617,068.50 418,952.05
is listed with “-“)
Financial expenses (income is listed with
108,391.88 1,200,000.00
“-”)
Investment loss (income is listed with
-23,487,946.52 -14,395,758.68
“-”)
- 144
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Decrease of deferred income tax assets
19,471.10
(increase is listed with “-”)
Increase of deferred income tax assets
(decrease is listed with “-”)
Decrease of inventory (increase is listed
-1,990,985.82 9,297,128.79
with “-”)
Decrease of operating receivable
-36,896,366.90 -7,192,322.29
accounts (increase is listed with “-”)
Increase of operating payable accounts
-10,834,604.35 7,693,022.35
(decrease is listed with “-”)
Other -200,149.24
Net cash flow arising from operating
-11,318,295.41 59,571,399.02
activities
2. Material investment and financing not
involved in cash flow
Conversion of debt into capital
Switching Company bonds due
within one year
financing lease of fixed assets
3. Net change of cash and cash
equivalents:
Balance of cash at period end 188,890,609.03 358,059,693.02
Less: Balance of cash equivalent at
211,655,585.86 208,462,656.63
period-begin
Add: Balance at period-end of cash
equivalents
Less: Balance at period-begin of
cash equivalents
Net increase of cash and cash
-22,764,976.83 149,597,036.39
equivalents
(2) Constitution of cash and cash equivalent
Unit: RMB/CNY
Item Ending balance Opening balance
I. Cash 188,890,609.03 211,655,585.86
Including: Cash on hand 9,691.12 36,941.24
Bank deposit available for
188,880,917.91 211,618,644.62
payment at any time
III. Balance of cash and cash equivalent
188,890,609.03 211,655,585.86
at period-end
- 145
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
52. Assets with ownership or use right restricted
Unit: RMB/CNY
Item Ending book value Reasons for restriction
Upgrading project of the Tellus-Gman
Monetary fund 27,188,802.59 Gold & Jewelry Industrial Park -
supervision funds for the 03# land
Bank loan mortgage
Intangible assets 45,934,295.01
Total 73,123,097.60
53. Foreign currency monetary
(1) Foreign currency monetary
Unit: RMB/CNY
Ending foreign currency Ending RMB balance
Item Convert rate
balance converted
Monetary funds 682,909.72
Including: USD 104,030.95 6.5126 677,515.04
EURO
HKD 6,858.41 0.7866 5,394.68
54. Government grants
(1) Government grants
Unit: RMB/CNY
Amount Item Amount reckoned into current
Category
gains/losses
Elevator Renewal Subsidy
Fund for Futian District Old
131,102.38 Deferred income
Elevator Renovation Working
Group
Luohu District 2021 Special
funds for industrial
4,017,501.99 Deferred income 221,174.34
transformation and upgrading-
industry service platform
Luohu District 2021 special
funds for industrial
transformation and upgrading- 2,500,000.00 Deferred income 163,043.46
Green building support
subsidy
Subsidy revenue from the
Shenzhen Municipal Bureau
of Commerce in 2020 to 4,590,000.00 Deferred income 292,978.74
promote consumption to
enhance the support project
Work-based vocational
82,750.00 Other income 82,750.00
training subsidy
Stabilization subsidy from
6,679.80 Other income 6,679.80
social security bureau
- 146
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
VII. Changes of consolidation range
1. Increased in scope of consolidation
Ways to acquire Time of equity Contribution
Name equity acquisition amount Contribution ratio
Guorun Gold (Shenzhen) Co., Ltd. Newly established June 2022 7850 39.25%
2. Enterprise combine under the same control
Not applicable
3. Reverse purchase
Not applicable
4. Disposal of subsidiaries
Not applicable
VIII. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main operation Registered Share-holding ratio
Subsidiary Business nature Acquired way
place place Directly Indirectly
Shenzhen
Tellus
Xinyongtong
Shenzhen Shenzhen Commerce 5.00% 95.00% Establishment
Automobile
Development
Co. Ltd
Shenzhen
Bao’an Shiquan
Shenzhen Shenzhen Commerce 100.00% Establishment
Industrial Co.,
Ltd.
Shenzhen SDG
Tellus Real Shenzhen Shenzhen Manufacture 100.00% Establishment
Estate Co., Ltd.
Shenzhen
Tellus
Shenzhen Shenzhen Commerce 100.00% Establishment
Chuangying
Tech. Co., Ltd.
Shenzhen
Xinyongtong
Auto Vehicle
Shenzhen Shenzhen Commerce 51.00% Establishment
Inspection
Equipment Co.,
Ltd.
Shenzhen Auto
Industry and Shenzhen Shenzhen Commerce 100.00% Establishment
Trade
- 147
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Corporation
Shenzhen
Automotive
Shenzhen Shenzhen Commerce 100.00% Establishment
Industry Supply
Corporation
Shenzhen SDG
Huari Auto
Shenzhen Shenzhen Commerce 60.00% Establishment
Enterprise Co.,
Ltd.
Shenzhen Huari
Anxin
Shenzhen Shenzhen Commerce 100.00% Establishment
Automobile
Inspection Ltd.
Shenzhen
Zhongtian
Shenzhen Shenzhen Commerce 100.00% Establishment
Industrial Co,.
Ltd.
Shenzhen Huari
TOYOTA
Automobile Shenzhen Shenzhen Commerce 60.00% Establishment
Sales Service
Co., Ltd.
Shenzhen
Tellus Treasury
Shenzhen Shenzhen Commerce 100.00% Establishment
Supply Chain
Tech. Co., Ltd.
Shenzhen
Jewelry
Industry Shenzhen Shenzhen Commerce 65.00% Establishment
Service Co.,
LTD
Shanghai
Fanyue
Shenzhen Shenzhen Commerce 100.00% Establishment
Diamond Co.,
Ltd.
Guorun Gold
(Shenzhen) Shenzhen Shenzhen Commerce 36% 3.25% Establishment
Co., Ltd.
(2) Important non-wholly-owned subsidiary
Unit: RMB/CNY
Gains/losses Dividend announced to
Share-holding ratio of Ending equity of
Subsidiary attributable to minority distribute for minority
minority minority
in the Period in the Period
Shenzhen Huari Toyota
40.00% -442,894.84 4,030,875.67
Auto Sales Co., Ltd
Shenzhen SDG Huari
Auto Enterprise Co., 40.00% 935,322.67 13,439,198.81
Ltd.
(3) Main finance of the important non-wholly-owned subsidiary
Unit: RMB/CNY
Ending balance Opening balance
Subsid Non- Curren Non- Total Non- Curren Non- Total
iary Curren Total Curren Total
current t current liabiliti current t current liabiliti
t assets assets t assets assets
assets liabiliti liabiliti es assets liabiliti liabiliti es
- 148
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
es es es es
Shenz
hen
Huari
76,682 80,858 70,781 70,781 85,290 90,295 79,111
Toyota 4,176, 5,005, 79,111,
,138.5 ,425.2 ,236.0 ,236.0 ,018.3 ,930.4 ,504.1
Auto 286.66 912.12 504.18
4 0 3 3 3 5 8
Sales
Co.,
Ltd
Shenz
hen
SDG
Huari 59,268 19,665 78,933 45,093 45,093 61,681 20,655 82,337 50,835 50,835
Auto ,648.8 ,196.1 ,844.9 ,542.9 ,542.9 ,938.5 ,893.7 ,832.3 ,836.9 ,836.9
Enterp 7 1 8 3 3 8 8 6 9 9
rise
Co.,
Ltd.
Unit: RMB/CNY
Current period Last period
Total Cash flow Total Cash flow
Subsidiary Operating comprehen from Operating comprehen from
Net profit Net profit
income sive operation income sive operation
income activity income activity
Shenzhen
Huari - - -
31,626,860. 15,892,157. 120,908,66
Toyota 798,121.42 798,121.42 1,096,939.0 1,096,939.0 1,066,151.6
92 85 0.87
Auto Sales 1 1 0
Co., Ltd
Shenzhen
SDG Huari -
18,688,992. 2,338,306.6 2,338,306.6 18,429,177. 1,882,612.7 1,882,612.7
Auto 19,176,506. 68,643.14
55 8 8 57 9 9
Enterprise 73
Co., Ltd.
2. Equity in joint venture and associated enterprise
(1) Important joint venture or associated enterprise
Share-holding ratio Accounting
treatment on
Joint venture or
Main operation Registered investment for
Associated Business nature
place place Directly Indirectly joint venture
enterprise
and associated
enterprise
Shenzhen
Investment and
Tellus Gman Equity method
Shenzhen Shenzhen establishment 50.00%
Investment Co., accounting
of industries
Ltd
Shenzhen Zung
Fu Tellus Auto Equity method
Shenzhen Shenzhen Sales of Benz 35.00%
Service Co., accounting
Ltd.
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
(2) Main financial information of the important joint venture
Unit: RMB/CNY
Ending balance/Current period Opening balance/Last period
Shenzhen Tellus Gman Investment Co., Shenzhen Tellus Gman Investment Co.,
Ltd Ltd
Current assets 30,303,217.19 45,816,920.84
Including: Cash and cash equivalent 26,391,630.67 41,913,040.87
Non current assets 357,067,102.52 366,402,308.03
Total Assets 387,370,319.71 412,219,228.87
Current liabilities 37,478,449.11 39,971,747.31
Non current liabilities 268,188,000.00 277,266,000.00
Total liabilities 305,666,449.11 317,237,747.31
Minority interests
Shareholders' equity attributable to the
81,703,870.60 94,981,481.56
parent company
Share of net assets calculated by
40,851,935.30 47,490,740.78
shareholding ratio
Adjustment matters
--Goodwill
—Unrealized profit of internal trading
--Others
Book value of equity investment in joint
56,229,882.88 47,490,740.78
ventures
Fair value of the equity investment of
joint venture with public offers
concerned
Business income 51,327,658.48 47,490,740.78
Financial expenses 7,454,900.88 7,886,096.17
Income tax expenses 5,826,094.71 3,082,111.84
Net profit 17,478,284.13 9,246,335.50
Net profit of the termination of operation
Other comprehensive income
Total comprehensive income 17,478,284.13 9,246,335.50
Dividends received from joint ventures
during the year
(3) Main financial information of the important associated enterprise
Unit: RMB/CNY
Ending balance/Current period Opening balance/Last period
Shenzhen Zung Fu Tellus Auto Service Shenzhen Zung Fu Tellus Auto Service
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Co., Ltd. Co., Ltd.
Current assets 181,809,658.99 134,921,582.03
Non current assets 32,088,660.57 33,583,787.31
Total Assets 213,898,319.56 168,505,369.34
Current liabilities 139,022,780.57 90,311,356.93
Non current liabilities
Total liabilities 139,022,780.57 90,311,356.93
Minority interests
Shareholders' equity attributable to the
74,875,538.99 78,194,012.41
parent company
Share of net assets calculated by
26,206,438.65 27,367,904.34
shareholding ratio
Adjustment matters
--Goodwill
—Unrealized profit of internal trading
--Other
Book value of equity investment in
26,206,438.65 27,367,904.34
associated enterprise
Fair value of the equity investment of
associated enterprise with public offers
concerned
Business income 493,226,617.42 638,056,465.79
Net profit -3,318,473.42 21,570,821.49
Net profit of the termination of operation
Other comprehensive income
Total comprehensive income -3,318,473.42 21,570,821.49
Dividends received from associates
during the year
(4) Financial summary for non-important Joint venture and associated enterprise
Unit: RMB/CNY
Ending balance/Current period Opening balance/Last period
Joint venture:
Total book value of investment 13,802,333.55 13,452,222.35
Amount based on share-holding ratio
-- Net profit 686,492.55 708,235.59
-- Total comprehensive income 686,492.55 708,235.59
Associated enterprise:
Amount based on share-holding ratio
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(5) Excess loss occurred in joint venture or associated enterprise
Unit: RMB/CNY
Un-recognized losses not
Joint venture/Associated Cumulative un-recognized recognized in the Period (or Cumulative un-recognized
enterprise losses net profit enjoyed in the losses at period-end
Period)
Shenzhen Yongtong Xinda
Inspection Equipment Co., 1,176,212.73 1,176,212.73
Ltd.
Shenzhen Tellus Automobile
98,865.26 98,865.26
Service Chain Co., Ltd.
IX. Risk related with financial instrument
The Company's risks related to financial instruments originate from various financial assets and financial liabilities
recognized by the Company in the course of operation, including credit risk, liquidity risk and market risk.
The management of the Company is responsible for the management objectives and policies of various risks related
to financial instruments of the Company. Operating management is responsible for daily risk management through
functional departments (e.g., the credit management department of the Company checks the credit sales of the
company on a case-by-case basis). The internal audit department of the Company conducts daily supervision over
the implementation of the company's risk management policies and procedures and reports relevant findings to the
audit committee of the Company in a timely manner.
The overall goal of the Company's risk management is to formulate risk management policies that may minimize
the risks associated with various financial instruments without unduly affecting the company's competitiveness and
resilience.
1. Credit risk
Credit risk is the risk that one party of a financial instrument fails to fulfill its obligations, resulting in a financial
loss to the other party. The credit risk of the Company is mainly generated from monetary funds, notes receivable,
accounts receivable, receivables financing, other account receivable, contract assets, debt investment and long-term
receivables, etc. The credit risk of these financial assets is derived from the default of the counterparty, and the
maximum risk exposure is equal to the book amount of these instruments.
The Company's monetary funds are mainly deposited in commercial banks and other financial institutions. The
Company believes that these commercial banks have high credit and asset status and low credit risk.
For notes receivable, accounts receivable, receivables financing, Other account receivable, contract assets, debt
investment and long-term receivables, the Company establishes relevant policies to control credit risk exposure.
The Company evaluates customers' credit qualifications and sets up corresponding credit periods based on their
financial status, the possibility of obtaining guarantees from third parties, credit history and other factors such as
current market conditions. The Company regularly monitors the credit records of customers. For customers with
poor credit records, the Company will adopt written payment reminders, shortening or cancellations of credit periods,
etc., to ensure that the Company's overall credit risk is within a controllable range.
(1) Judgment criteria for a significant increase in credit risk
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
On each balance sheet date, the Company evaluates whether the credit risk of the relevant financial instrument has
increased significantly since the initial recognition. In determining whether the credit risk has increased significantly
since the initial recognition, the Company considers the reasonable and evidence-based information that can be
obtained without unnecessary additional cost or effort, including qualitative and quantitative analysis based on the
Company's historical data, external credit risk ratings and forward-looking information. On the basis of a single
financial instrument or a portfolio of financial instruments with similar credit risk characteristics, the Company
determines the change of the default risk during the expected duration of the financial instrument by comparing the
risk of default of the financial instrument on the balance sheet date with the risk of default on the initial recognition
date.
When one or more of the following quantitative or qualitative criteria are triggered, the Company considers that the
credit risk of the financial instrument has significantly increased. The quantitative criteria mainly mean that the
probability of default of the remaining duration on the reporting date increases over a certain percentage compared
with the initial recognition. The qualitative criteria are the significant adverse changes in major debtor's business or
financial situation, the list of early warning customers, etc.
(2) Definition of assets with credit impairment
In order to determine whether credit impairment has occurred, the Company adopts the definition criteria consistent
with the internal credit risk management objectives for relevant financial instruments, and considers both
quantitative and qualitative indicators.
When assessing whether the debtor has suffered credit impairment, the Company mainly considers the following
factors: major financial difficulties of the issuer or the debtor; the debtor breaches the contract, such as the default
or overdue payment of interest or principal; the creditor, for economic or contractual reasons relating to the debtor's
financial difficulties, gives the debtor concessions that it would not have given in any other circumstances; the
debtor is likely to go bankrupt or undergo other financial restructuring; the financial difficulties of the issuer or
debtor lead to the disappearance of the active market for the financial asset; purchase or origination of a financial
asset at a substantial discount reflects the fact that a credit loss has occurred.
The credit impairment of financial assets may be caused by the joint action of several events, but is not necessarily
by separately identifiable events.
(3) Parameters of expected credit loss measurement
Depending on whether the credit risk has significantly increased and whether the credit impairment has occurred,
the Company measures the impairment reserve for different assets at the expected credit loss of 12 months or the
entire duration respectively. The key parameters of expected credit loss measurement include probability of default,
loss given default and exposure at default. The Company establishes the probability of default, loss given default
and exposure at default model by taking into account the quantitative analysis and forward-looking information of
historical statistical data (such as counterparty rating, guarantee method and collateral type, repayment mode, etc.).
Relevant definitions are as follows:
The probability of default is the probability that the debtor will not be able to meet its reimbursement obligations in
the next 12 months or in the entire duration.
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Loss given default refers to the Company's expectation to the extent of loss caused by exposure at default. The loss
given default also varies depending on the type of the counterparty, the type and priority of the claim, and the
collateral. The loss given default is the percentage of the risk exposure loss when the default occurs, which is
calculated on the basis of the next 12 months or the entire duration;
Exposure at default is the amount payable by the Company at the time of the occurrence of default over the next 12
months or over the entire remaining duration. Both the assessment of a significant increase in credit risk and the
calculation of expected credit losses involve the forward-looking information. Through historical data analysis, the
Company identifies the key economic indicators that affect the credit risk and expected credit loss of each business
type.
The maximum credit risk exposure of the Company is the carrying amount of each financial asset on the balance
sheet. The Company does not provide any other guarantee which may expose the Company to credit risk.
2. Liquidity risk
Liquidity risk refers to the risk of capital shortage when an enterprise performs its obligations of settlement in the
form of cash payment or other financial assets. The Company is responsible for the overall cash management of the
company's subsidiaries, including short-term investment of surplus cash and financing of loans to meet projected
cash needs. It is the Company's policy to regularly monitor short - and long-term working capital requirements and
compliance with borrowing agreements to ensure adequate cash reserves and marketable securities readily available
for cash for cash at any time.
As of June 30, 2022, the maturity periods of the company's financial liabilities are as follows:
June 30, 2022
Item
Within one year 1-2 years 2-3 years Over 3 years
Accounts payable 69,778,883.21
Other payable 115,063,036.77
Non-current liabilities due within one
2,884,263.93
year
Long term loan 5,040,362.36 5,966,267.19 7,285,517.69 103,378,260.21
Long-term payable 3,920,160.36
Lease liability 1,318,243.17 1,684,781.03 960,241.93
Total 193,802,442.70 7,284,510.36 8,970,298.72 104,338,502.14
(Continued from above table)
December 31, 2021
Item
Within one year 1-2 years 2-3 years Over 3 years
Accounts payable 69,318,035.89
Other payable 112,617,963.65
Non-current liabilities due within one 3,021,452.25
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
December 31, 2021
Item
Within one year 1-2 years 2-3 years Over 3 years
year
Long term loan 3,644,467.25 4,609,457.14 5,967,792.71 118,790,550.21
Long-term payable 3,920,160.36
Lease liability 1,829,520.13 1,684,781.03 960,241.93
Total 192,522,079.40 6,438,977.27 7,652,573.74 119,750,792.14
X. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured by fair value
Unit: RMB/CNY
Ending fair value
Item
First-order Second-order Third-order Total
I. Sustaining measured
-- -- -- --
by fair value
(I) Transaction
422,095,775.34 422,095,775.34
financial asset
1.Financial assets
measured at fair value
and whose changes are 422,095,775.34 422,095,775.34
included in current
profit or loss
(III) Other equity
10,176,617.20 10,176,617.20
instrument investment
Total assets
continuously measured 432,272,392.54 432,272,392.54
at fair value
II. Non-persistent
-- -- -- --
measure
2. The qualitative and quantitative information for the valuation technique and critical parameter that
sustaining and non-persistent measured by fair value on third-order
Financial assets held for trading are the purchased structured deposits and wealth management products, and the
expected rate of return is used to predict the future cash flows, and the unobservable estimate is the expected rate
of return. Investments in other equity instruments are measured at the investment cost as a reasonable estimate of
fair value because the operating environment, operating conditions and financial conditions of the investee company,
China Pudong Development Machinery Industry Co., Ltd, have not undergone significant changes.
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
XI. Related party and related transactions
1. Parent company
Ratio of
Ratio of voting right
Parent company Registration place Business nature Registered capital shareholding on the
on the Company
Company
Development and
Shenzhen Special operation of real RMB
Development Shenzhen 49.09% 49.09%
4,582,820,000
Group Co., Ltd. estate and domestic
commerce
Explanation on parent company of the enterprise
Shenzhen SDG Co., Ltd. is invested by the State-owned Assets Supervision and Administration Commission of
Shenzhen Municipal People's Government and was established on August 1, 1981. The company now holds a
business license with a unified social credit code of 91440300192194195C and a registered capital of 4582.82
million yuan.
Ultimate controller of the Company is Shenzhen Municipal People’s Government State-Owned Assets
Supervision and Administration Commission.
2. Subsidiary
Found more in Ⅷ. Equity in other entity in the Note
3. Joint venture and associated enterprise
Found more in Ⅷ. Equity in other entity in the Note
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or
occurred in previous period:
Joint venture/Associated enterprise Relationship
Shenzhen Xinyongtong Auto Service Co., Ltd. Former associate, transferred in previous period
Shenzhen Tellus Xinyongtong Auto Service Co., Ltd. Associated company
Shenzhen Tellus Automobile Service Chain Co., Ltd. Associated company
Shenzhen Yongtong Xinda Inspection Equipment Co., Ltd. Associated company
Shenzhen Xiandao New Material Co., Ltd. Associated company
Shenzhen Tellus Hang Investment Co., Ltd. Joint venture
4. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
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Unit: RMB/CNY
Whether more than
Related transaction Approved
Related party Current Period the transaction Last Period
content transaction limit
limit (Y/N)
Shenzhen SDG
Engineering
Accept labor 430,000.00 N 518,499.99
Management Co.,
Ltd.
Shenzhen SDG
Tellus Property
Accept labor 1,529,149.09 15,700,000.00 N 7,668,080.71
Management Co.,
Ltd.
Shenzhen SDG
Service Co., Ltd.
Accept labor 5,236,179.69 360,000.00 N 412,752.47
Jewelry Park
Branch
Unit: RMB/CNY
Related party Related transaction content Current Period Last Period
Shenzhen SDG Petty Loan
Providing services 94,975.53 80,602.62
Co., Ltd.
Shenzhen SDG Tellus
Property Management Co., Providing services 54,548.96 36,701.08
Ltd.
(2) Related lease
As a lessor for the Company:
Unit: RMB/CNY
Lease income in recognized Lease income in recognized
Lessee Assets type
in the Period last the Period
Shenzhen Zung Fu Tellus
House lease 2,595,238.12 2,595,238.12
Auto Service Co., Ltd.
Shenzhen Xinyongtong Auto
House lease 404,910.00
Service Co., Ltd.
Shenzhen SD Petty Loan Co.,
House lease 654,081.87 495,064.92
Ltd.
Shenzhen SDG Tellus
Property Management Co., House lease 15,155.24 23,041.90
Ltd.
Shenzhen SDG Service Co.,
House lease 1,108,284.57 542,136.57
Ltd. Jewelry Park Branch
Subtotal 4,788,605.52 4,357,391.51
(3) Related guarantee
As guarantor
Unit: RMB/CNY
Whether the guarantee
Secured party Guarantee amount Guarantee start date Guarantee expiry date
has been fulfilled
Shenzhen Zung Fu
Tellus Auto Service 3,500,000.00 2007-04-17 N
Co., Ltd.
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
(4) Related party’s borrowed funds
Not applicable
(5) Remuneration of key manager
Unit: RMB/CNY
Item Current period Last period
Total pre-tax remuneration received from
3,258,800.00 2,695,100.00
the Company
5. Receivable and payable of related party
(1) Receivable item
Unit: RMB/CNY
Ending balance Opening balance
Item Name Related party
Book balance Bad debt provision Book balance Bad debt provision
Shenzhen
Accounts
Xinyongtong Auto 0.00 0.00
receivable
Service Co., Ltd.
Shenzhen SDG
Service Co., Ltd.
1,605.4 91.68 9,167.57 91.68
Jewelry Park
Branch
Shenzhen SD Petty
186,202.60 177.91 17,791.06 177.91
Loan Co., Ltd.
Subtotal 187,808 269.59 26,958.63 269.59
Shenzhen Tellus
Other account Automobile
1,359,297.00 1,359,297.00 1,359,297.00 1,359,297.00
receivable Service Chain Co.,
Ltd.
Shenzhen
Yongtong Xinda
Inspection 531,882.24 531,882.24 531,882.24 531,882.24
Equipment Co.,
Ltd.
Shenzhen Xiandao
New Material Co., 660,790.09 660,790.09 660,790.09 660,790.09
Ltd.
Shenzhen SDG
Tellus Property
13,659.18 128.30 12,829.59 128.30
Management Co.,
Ltd.
Subtotal 2,565,628.51 2,552,097.63 2,564,798.92 2,552,097.63
Shenzhen Tellus
Long-term Automobile
2,179,203.68 2,179,203.68 2,179,203.68 2,179,203.68
receivables Service Chain Co.,
Ltd.
Subtotal 2,179,203.68 2,179,203.68 2,179,203.68 2,179,203.68
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
(2) Payable item
Unit: RMB/CNY
Item Name Related party Ending book balance Opening book balance
Shenzhen SDG Real Estate
Accounts payable 6,054,855.46 6,054,855.46
Co., Ltd
Shenzhen Machinery
Equipment Import & Export 45,300.00 45,300.00
Corporation
Shenzhen Tellus Gman
200,000.00 200,000.00
Investment Co., Ltd
Shenzhen SDG Engineering
38,905.66 150,005.66
Management Co., Ltd
Shenzhen SDG Tellus
Property Management Co., 1,708,125.16 1,708,125.16
Ltd.
Subtotal 8,047,186.28 8,158,286.28
Hong Kong Yujia Investment
Other payable 1,961,673.06 1,961,673.06
Co, Ltd.
Shenzhen SDG Swan
28,766.05 28,766.05
Industrial Co., Ltd.
Shenzhen Machinery
Equipment Imp & Exp. 1,575,452.52 1,575,452.52
Company
Shenzhen Special
12,369,413.94 17,383,655.94
Development Group Co., Ltd.
Shenzhen Longgang Tellus
1,095,742.50 1,095,742.50
Real Estate Co., Ltd.
Shenzhen Tellus Yangchun
476,217.49 476,217.49
Real Estate Co., Ltd.
Shenzhen Tellus Hang
11,144.73 167,470.29
Investment Co., Ltd.
Shenzhen Yongtong Xinda
Inspection Equipment Co., 5,600.00 5,600.00
Ltd.
Shenzhen SDG Tellus
Property Management Co., 30,428.43 122,141.49
Ltd.
Shenzhen SDG Service Co.,
22,680.00 29,278.00
Ltd. Jewelry Park Branch
Shenzhen Zung Fu Tellus
833,334.00 833,334.00
Auto Service Co., Ltd.
Shenzhen SD Petty Loan Co.,
237,804.66 237,804.66
Ltd.
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Shenzhen SDG Engineering
40,000.00 56,600.00
Management Co., Ltd
Shenzhen SDG Service Co.,
5,832.00
Ltd.
Subtotal 18,688,257.38 23,979,568.00
XII. Commitment or contingency
1. Important commitments
Important commitments at the balance sheet date
(1) Capital commitment
Capital commitments that have been signed but not yet confirmed in
June 30, 2022 December 31, 2020
the financial statements
Large contract 153,763,306.33 220,523,772.58
2. Contingency
(1) Contingency on balance sheet date
In October 2005, the Company filed a lawsuit with the Luohu District People's Court of Shenzhen, requesting that
Jintian Industrial (Group) Co., Ltd. (hereinafter referred to as Jintian Company) be ordered to pay the amounts
forcibly deducted due to the Company's guarantee for its bank borrowings, totally 4,081,830 yuan (including 3
million yuan in principal, 1,051,380 yuan in interest, 25,160 yuan in litigation fees, and 5,290 yuan in execution
fees). The court has ruled in favor of the Company, and the Company has applied for compulsory execution. The
Company made loss accounting treatment for the deducted funds in previous years.
In April 2006, Shenzhen Development Bank sued Jintian Company for the overdue loan repayment of 2 million US
dollars and the Company’s guarantee for it. After the Company took over the principal of Jintian Company's loan
of 2 million US dollars and all interests, the Company filed an appeal to the Luohu District People's Court of
Shenzhen, requesting that Jintian Company be ordered to pay our company 2,960,490 US dollars and the interests
repaid by our company on its behalf. In 2008, mediated by Luohu District People's Court of Shenzhen, both parties
reached a civil mediation agreement ((2008) SLFMYCZ No. 937), and reached the following agreements: Jintian
Company should repay 2,960,490 US dollars to the Company before October 31, 2008, the Company shall exempt
Jintian Company from its obligation to pay interest. If Jintian Company fails to pay on time, it shall pay the penalty
for overdue payment according to the RMB benchmark loan interest rate for the same period announced by the
People's Bank of China from that day. Jintian Company goes through bankruptcy, reorganization and debt repayment
procedures. On January 29, 2016, Shenzhen Intermediate People's Court ruled that the execution of the
reorganization plan of Jintian Company was completed and the bankruptcy proceedings were terminated. Jintian
Company should make additional distributions to creditors including the Company according to the reorganization
plan, and the Company should be distributed cash of 325,000 yuan and 427,604 A shares and 163,886 B shares of
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Jintian Company. As of the date of approval of the financial report, the Company has not received the distributed
property. On August 15, 2018, after failing to communicate with Jintian for many times about the cash and shares
to be distributed after the bankruptcy and reorganization of Jintian Company, the Company filed a lawsuit with the
People's Court of Qianhai Cooperation Zone, and the Qianhai Court issued a civil judgment (2018) Yue 0391 Min
Chu No. 3104, Jintian Company was ordered to pay the Company 325,000 yuan in cash and 427,604 A shares and
163,886 B shares of Jintian Company within five days of the legal effect of this judgment (if the shares cannot be
delivered, they may be paid in cash at the market price of the shares on the last day of the deadline for performance).
As of June 30, 2022, the Company had fulfilled a payment of 400,808.02 yuan (including 325,000 yuan in cash as
determined in the judgment and a total of 75,808.02 yuan in cash such as B-shares converted to cash, preservation
fees, delayed performance fees, etc.), and 427,604 A-shares had been transferred to the account designated by the
court, the company had also submitted an account to accept Jintian's A-shares, and was waiting for the Qianhai
Court to transfer the aforesaid funds and stocks to the Company.
XIII. Other important events
1. Segment
(1) Recognition basis and accounting policy for reportable segment
The Company determines operating (segment) divisions based on internal organizational structure, management
requirements and internal reporting system, and determines the reporting segment based on the industry segment.
Respectively assess the operating performance of automobile sales, automobile maintenance and testing, leasing
and services, and jewelry wholesale and retail. The assets and liabilities used with each segment are distributed
among the different segments in proportion to their size.
(2) Financial information for reportable segment
Unit: RMB/CNY
Auto
Leasing and Wholesale and Offset between
Item Auto sales maintenance Total
retail of jewelry segment
services
and inspection
Main business
90,748,050.16 26,147,132.30 100,183,766.89 48,246,045.45 -15,309,842.57 250,015,152.23
income
Main business
89,009,452.61 18,754,863.60 43,466,666.56 53,215,540.26 -16,102,345.48 188,344,177.55
cost
-
2,922,091,666. 1,901,811,890.
Total assets 39,848,642.72 141,387,032.02 106,295,526.07 1,267,962,334.
44 21
32
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-
Total liability 40,644,046.54 96,674,136.98 834,493,197.93 37,438,315.55 412,306,255.00
596,943,442.00
XIV. Principal notes of financial statements of parent company
1. Account receivable
(1) Category
Unit: RMB/CNY
Ending balance Opening balance
Categor Book balance Bad debt provision Book balance Bad debt provision
y Book Book
Accrual value Accrual value
Amount Ratio Amount Amount Ratio Amount
ratio ratio
Account
receivab
le with
bad debt
484,803. 484,803. 484,803. 484,803.
provisio 15.14% 100.00% 65.79% 100.00%
08 08 08 08
n accrual
on a
single
basis
Account
receivab
le with
bad debt 2,717,23 2,715,39 120,861. 119,014.
84.86% 1,847.01 0.07% 34.21% 1,847.01 1.53%
provisio 9.31 2.30 42 41
n accrual
on
portfolio
3,202,04 486,650. 2,715,39 605,664. 486,650. 119,014.
Total 100.00% 15.20% 100.00% 80.35%
2.39 09 2.30 50 09 41
On June 30, 2022, account receivable with bad debt provision accrual on a single basis
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Shenzhen Bijiashan
The account age is long
Entertainment 172,000.00 172,000.00 100% and is not expected to
be recovered
Company
The account age is long
Gong Yanqing 97,806.64 97,806.64 100% and is not expected to
be recovered
Guangzhou Lemin The account age is long
86,940.00 86,940.00 100% and is not expected to
Computer Center be recovered
The account age is long
Other 128,056.44 128,056.44 100%
and is not expected to
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
be recovered
Total 484,803.08 484,803.08
By account age
Unit: RMB/CNY
Account age Ending balance
Within one year (including one year) 2,717,239.31
Over 3 years 484,803.08
Over 5 years 484,803.08
Total 3,202,042.39
(2) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Bad debt
provision
484,803.08 484,803.08
accrual on a
single basis
Provision for
bad debts by 1,847.01 1,847.01
combination
Total 486,650.09 486,650.09
(3) Top 5 account receivables at ending balance by arrears party
Unit: RMB/CNY
Ending balance of accounts Proportion in total receivables Bad debt preparation ending
Enterprise
receivable at ending balance balance
Shenzhen Zung Fu Tellus
2,595,238.08 81.05%
Auto Service Co., Ltd.
Shenzhen Bijiashan
172,000.00 5.37% 172,000.00
Entertainment Company
Shenzhen Jincheng Yinyu
117,501.42 3.67% 2,487.23
Jewelry Co., Ltd.
Gong Yanqing 97,806.64 3.05% 97,806.64
Guangzhou Lemin Computer
86,940.00 2.72% 86,940.00
Center
Total 3,069,486.14 95.86%
2. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Interest receivable 0.00 0.00
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Dividends receivable 547,184.35 547,184.35
Other account receivable 1,715,853.02 89,854,408.23
Total 2,263,037.37 90,401,592.58
(1) Dividends receivable
1) Category
Unit: RMB/CNY
Item (or invested unit) Ending balance Opening balance
China Pudong Development Machinery
547,184.35 547,184.35
Industry Co., Ltd
Total 547,184.35 547,184.35
2) Important dividend receivable with account age over one year
Unit: RMB/CNY
Whether there is
Reasons for non-
Item (or invested unit) Ending balance Account age impairment and its
recovery
judgment basis
The enterprise has a
normal financial status
China Pudong
and operation
Development
547,184.35 2-3 years Not yet paid conditions, the
Machinery Industry
dividend receivable
Co., Ltd
have not been
impaired.
Total 547,184.35
3) Provision for bad debts
□ Applicable √Not applicable
(2) Other account receivable
1) By nature
Unit: RMB/CNY
Nature Ending book balance Opening book balance
Other interim payment receivable 14,288,238.53 13,776,179.52
Related transactions within the scope of
1,021,365.19 89,671,979.41
consolidation
Total 15,309,603.72 103,448,158.93
2) Provision for bad debts
Unit: RMB/CNY
Phase I Phase II Phase III
Bad debt provision Expected credit losses Expected credit losses Expected credit losses Total
over next 12 months for the entire duration for the entire duration
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
(without credit (with credit impairment
impairment occurred) occurred)
Balance on Jan. 1,
10,804.96 13,582,945.74 13,593,750.70
2022
Balance on Jun. 30,
10,804.96 13,582,945.74 13,593,750.70
2022
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within one year (including one year) 1,721,258.06
Over 3 years 13,588,345.66
Over 5 years 13,588,345.66
Total 15,309,603.72
3) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Bad debt
provision
13,588,345.66 13,588,345.66
accrual on a
single basis
Provision for
bad debts by 5,405.04 5,405.04
combination
Total 13,593,750.70 13,593,750.70
5) Top 5 other receivables at ending balance by arrears party
Unit: RMB/CNY
Ratio in total
ending balance of Ending balance of
Enterprise Nature Ending balance Account age
other account bad debt reserve
receivables
Shenzhen
Zhonghao (Group) Intercourse funds 5,000,000.00 Over 3 years 32.66% 5,000,000.00
Co., Ltd
Gold Beili
Electrical
Intercourse funds 2,706,983.51 Over 3 years 17.68% 2,706,983.51
Appliances
Company
Shenzhen
Petrochemical Intercourse funds 1,898,419.67 Over 3 years 12.40% 1,898,419.67
Group
Offesetting debt
claims from Intercourse funds 1,212,373.79 Over 3 years 7.92% 1,212,373.79
Huatong
- 165
深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Packaging
Shenzhen Jewelry
Industry Service Intercourse funds 1,021,190.59 Over 3 years 6.67%
Co., LTD
Total 11,838,967.56 77.33% 10,817,776.97
3. Long-term equity investment
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for
714,245,472.73 1,956,000.00 712,289,472.73 694,745,472.73 1,956,000.00 692,789,472.73
subsidiary
Investment for
associates and 91,025,817.37 9,787,162.32 81,238,655.05 98,098,029.79 9,787,162.32 88,310,867.47
joint venture
Total 805,271,290.10 11,743,162.32 793,528,127.78 792,843,502.52 11,743,162.32 781,100,340.20
(1) Investment for subsidiary
Unit: RMB/CNY
Increase and decrease in current period Ending
Opening Ending
The invested balance of
balance Additional Reduce Provision for balance
entity Other impairment
(book value) investment investment impairment (book value)
provision
Shenzhen
SDG Tellus 31,152,888.8 31,152,888.8
Real Estate 7 7
Co., Ltd.
Shenzhen
Tellus
14,000,000.0 14,000,000.0
Chuangying
Technology 0 0
Co., Ltd.
Shenzhen
Tellus
Xinyongtong 57,672,885.2 57,672,885.2
Automobile 2 2
Development
Co. Ltd.
Shenzhen
Zhongtian 369,680,522. 369,680,522.
Industrial 90 90
Co,. Ltd.
Shenzhen
Auto
126,251,071. 126,251,071.
Industry and
57 57
Trade
Corporation
Shenzhen
SDG Huari
19,224,692.6 19,224,692.6
Auto
5 5
Enterprise
Co., Ltd.
Shenzhen
Huari 1,807,411.52 1,807,411.52
TOYOTA
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Automobile
Sales Service
Co., Ltd.
Shenzhen
Xinyongtong
Automobile 10,000,000.0 10,000,000.0
Inspection 0 0
Equipment
Co. Ltd.
Shenzhen
Tellus
Treasury 50,000,000.0 50,000,000.0
Supply Chain 0 0
Tech. Co.,
Ltd.
Shenzhen
Hanli High-
Tech 0.00 0.00 1,956,000.00
Ceramics
Co., Ltd.
Shenzhen
Jewelry
13,000,000.0 19,500,000.0 32,500,000.0
Industry
0 0 0
Service Co.,
LTD
692,789,472. 19,500,000.0 712,289,472.
Total 1,956,000.00
73 0 73
(2) Investment for associates and joint venture
Unit: RMB/CNY
Current changes (+, -)
Ending
Openin Investm Cash balance
Investm Other Accrual Ending
g ent dividen of
ent Additio compre of balance
balance Capital gains Other d or impair
compan nal hensive impair (book
(book reducti recogni equity profit Other ment
y investm income ment value)
value) on zed change announ provisi
ent adjustm provisi
under ced to on
ent on
equity issued
I. Joint venture
Shenzh
en
Tellus
47,490, 8,739,1 15,000, 41,229,
Gman
740.78 42.07 000.00 882.85
Investm
ent Co.,
Ltd
Shenzh
en
Tellus
13,452, 350,111 13,802,
Hang
Investm 222.35 .20 333.55
ent Co.,
Ltd.
Subtota 60,942, 9,089,2 55,032,
l 963.13 53.27 216.40
II. Associated enterprise
Shenzh 27,367, - 26,206,
en 904.34 1,161,4 438.65
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Zung 65.69
Fu
Tellus
Auto
Service
Co.,
Ltd.
Hunan
Changy
ang 1,810,5
Industri 40.70
al Co.,
Ltd.
Shenzh
en
Jiechen
3,225,0
g
00.00
Electro
nic Co.,
Ltd.
Shenzh
en
Xianda
4,751,6
o New
21.62
Materia
ls Co.,
Ltd.
-
Subtota 27,367, 26,206, 9,787,1
1,161,4
l 904.34 438.65 62.32
65.69
88,310, 81,238, 9,787,1
Total
867.47 655.05 62.32
4. Operating income and operating cost
Unit: RMB/CNY
Current period Last period
Item
Income Cost Income Cost
Main business 12,666,278.27 5,003,948.63 19,483,635.23 5,163,217.03
Total 12,666,278.27 5,003,948.63 19,483,635.23 5,163,217.03
5. Investment income
Unit: RMB/CNY
Item Current period Last period
Long-term equity investment income
7,927,787.58 12,534,155.42
measured by equity
Investment income from the disposal of
21,843.90
long-term equity investments
Investment income of trading financial
5,715,948.58 2,053,727.05
assets during the holding period
Total 13,643,736.16 14,609,726.37
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
XV. Supplementary information
1. Current non-recurring gains/losses
√ Applicable □Not applicable
Unit: RMB/CNY
Item Amount Note
Governmental subsidy reckoned into
current gains/losses (except for those with
normal operation business concerned, and
conform to the national policies & 1,575,990.30 Government subsidies
regulations and are continuously enjoyed
at a fixed or quantitative basis according
to certain standards)
Losses/gains from changes of fair values
occurred in holding trading financial
assets and trading financial liabilities, and
investment income obtaining from the
disposal of trading financial assets, 6,157,679.97 Wealth management income
trading financial liability and financial
assets available-for-sale, excluded
effective hedging business relevant with
normal operations of the Company
Other non-operating income and The lease deposit transferred to non-
expenditure except for the 295,569.76 operation income upon early surrender of
aforementioned items lease by tenant
Transfer of equity gains and losses 8,785,410.47
Less: Impact on income tax 4,124,792.46
Impact on minority interests 232,778.21
Total 12,457,079.83 --
Details of other gains/losses items that meet the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain 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
□ Applicable √Not applicable
2. ROE and earnings per share
Earnings per share
Profits during report period Weighted average ROE
Basic EPS (RMB/share) Diluted EPS (RMB/share)
Net profits belong to common
3.00% 0.1009 0.1009
stock stockholders of the
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深圳市特力(集团)股份有限公司 2022 年半年度报告全文
Company
Net profits belong to common
stock stockholders of the
2.14% 0.0720 0.0720
Company after deducting
nonrecurring gains and losses
3. 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
(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
(3) Explanation on data differences under the accounting standards in and out of China; as for the differences
adjustment audited by foreign auditing institute, listed name of the institute
□ Applicable √Not applicable
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