深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Shenzhen China Bicycle Company (Holdings) Limited
SEMI-ANNUAL REPORT 2013
August 2013
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section I. Important Notice, Contents and Paraphrase
Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of Shenzhen China Bicycle Company (Holdings) Limited (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.
Other directors attended the board meeting on auditing the report except for the
following directors:
Position of absent
Name of absent director Reason for absence Entrusted
director
Zhang Xinmiao Independent Director On business Li Bing
The Company has no plans of cash dividend distributed, no bonus shares and
has no share converted from capital reserve either.
Luo Guiyou, principal of the Company, Zhang Zebing, person in charger of
accounting works and Sun Longlong, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of Semi-Annual
Report 2013 is authentic, accurate and complete.
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Indication of major risks
I. On 24 October 2012, a “Civil Ruling Paper” (2012) Shen Zhong Fa Po Zi No.
30-1 was ruled by Shenzhen Intermediate People’s Court for reorganization of
the Company since 25 October 2012; King & Wood Mallesons (Shenzhen) and
Shenzhen Zhengyuan Liquidation Co., Ltd. was appointed as administrator for
the Company. In accordance with regulation of article 13.2.7 of Rules Governing
the Listing of Stock on Shenzhen Stock Exchange, the stock of the Company
suspended since 13 November 2012, resumption should apply to Shenzhen Stock
Exchange by the Company till the reorganization plan was ruled by Shenzhen
Intermediate People’s Court. Vary reorganization works still in process recently.
During reorganization, the Company has suspended risk due to regulation of
Listing Rules, or has risks of declared bankrupt liquidation due to the reasons
regulated pursuit to Enterprise Bankruptcy Law of the People’s Republic of
China; if the Company declared bankrupt liquidation, stock of the Company
will at risk of de-listing. Majority investors are advice to exercise rational
investment with risks attention.
II. Owing to the negative amount of audited closing net assets for year of 2012,
accounting statement of the Company was issued an audit report with
disclaimer of opinion, in accordance with relevant regulations of Rules
Governing the Listing of Stocks on Shenzhen Stock Exchange (Revised in 2012),
the Company will has warning of delisting risk implemented. Since bankruptcy
reorganization implemented from 25 October 2012 ruled by Shenzhen
Intermediate People’s Court, stock of the Company was implemented risk
warning and suspended, therefore the Company continues to implemented
warning of delisting risk. If the audited net assets at period-end for year of
2013 continues to be negative, or the audit report continues to be issued with
disclaimer of opinion or adverse opinion, the stock of the Company will suspend
according to the Rules Governing the Listing of Stocks on Shenzhen Stock
Exchange.
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Content
Semi-Annual Report 2013 .................................................................................................................1
Section I Important Notice, Contents and Paraphrase ..................................................................2
Section II Company Profile ...............................................................................................................5
Section III Accounting data and summary of finnaical indexes ....................................................7
Section IV Report of the Board of Directors ...................................................................................9
Section V Important Events ............................................................................................................19
Section VI Changes in shares and particular about shareholders...............................................20
Section VII Directors, Supervisors and Senior Executives .........................................................23
Section VIII Financial Report.........................................................................................................24
Section IX Documents Available for Reference .........................................................................127
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section II Company profile
I. Company Profile
*ST ZHONGHUA – A
Short form for share Code for share 000017、200017
*ST ZHONGHUA – B
Listing stock exchange Shenzhen Stock Exchange
Chinese name of the Company 深圳中华自行车(集团)股份有限公司
Abbr. of Chinese name of the
深中华
Company(if applicable)
English name of the
SHENZHEN CHINA BICYCLE COMPANY（HOLDINGS）LIMITED
Company(if applicable)
Abbr. of English name of the
CBC
Company(if applicable)
Legal Representative Luo Guiyou
II. Contact person and ways
Secretary of the Board Rep. of securities affairs
Name Sun Longlong Cui Hongxia
Zhonghua Industrial Park, Yousong Zhonghua Industrial Park, Yousong
Contact adds. Industrial Zone, Longhua, Shenzhen, Industrial Zone, Longhua, Shenzhen,
Guangdong Province Guangdong Province
Tel. 0755-28181666 0755-28181666
Fax. 0755-28181009 0755-28181009
E-mail dmc@szcbc.com dmc@szcbc.com
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found more details in Annual Report 2012.
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
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 2012.
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of taxation registration and
organization code have no change in reporting period, found more details in Annual Report 2012.
4. Other relevant information
Whether other relevant information has changed in reporting period or not
□ Applicable √ Not applicable
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
Increase/decrease in this
Current period Same period of last year
report y-o-y (%)
Operating revenue (RMB) 104,903,520.59 113,186,086.20 -7.32%
Net profit attributable to shareholders of
-29,283,608.20 -33,344,485.07 -12.18%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 2,197,124.06 -33,402,742.30 -106.58%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-20,556,480.08 -2,504,014.01 720.94%
activities(RMB)
Basic earnings per share (RMB/Share) -0.0531 -0.0605 -12.23%
Diluted earnings per share (RMB/Share) -0.0531 -0.0605 -12.23%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end (%)
Total assets (RMB) 157,297,854.65 162,649,076.30 -3.29%
Net assets attributable to shareholder of
-1,738,734,864.61 -1,709,451,256.41 1.71%
listed company(RMB)
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP -29,283,608.20 -33,344,485.07 -1,738,734,864.61 -1,709,451,256.41
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Items and amount adjusted by IAS
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)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP -29,283,608.20 -33,344,485.07 -1,738,734,864.61 -1,709,451,256.41
Items and amount adjusted by foreign accounting rules
3. Reasons for the differences of accounting data under accounting rules in and out of China
III. Items and amounts of extraordinary profit (gains)/loss
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
15,100.00
write-off that accrued for impairment of assets)
Reorganization expenses, such as expenditure for allocation of Expenditure for allocation of
-31,521,787.26
employees and integration fee employees
Other non-operating income and expenditure except the
25,955.00
abovementioned
Total -31,480,732.26 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section IV. Report of the Board of Directors
I. Introduction
In the first half year of 2013, continued to be affected by the financial crisis and European and American debt crisis, the domestic and
overseas situation was still complicated and severe, the international economic situation hasn’t really get over the crisis, the recovery
of the domestic economy was still unstable and uncertain, various macro-control measures were in rapid succession, the overall level
of prices continued to rise, the household consumption tended to be cautions, and the manufacturing industry was greatly impacted.
Meanwhile, the market competition became more and more violent, and the operating environment of the company was very harsh.
The company was ruled to enter reorganization procedures by the court in Oct., 2012. Under the above-mentioned special operating
background, through the arduous efforts of the board of directors, the management team and all staff of the company, all aspects of
the company’s work has proceeded in order in the first half year of 2013, the company’s business has kept stable development;
strictly controlled the costs and expenses by adjusting the product structure, even the operating revenue declined slightly compared
with the same period of last year, the gross profits increased steadily compared with the same period of last year. The stable
development of the business has supported the advance of reorganization. According to the legal provisions, the company has
established reorganization plan draft, and submitted to Shenzhen Intermediate People's Court and the meeting of creditors of the
company within the legal time limit. Soon afterwards, Shenzhen Intermediate People's Court decided to hold the second meeting of
creditors about the corporation reorganization on 22nd, Aug., 2013 to consider and vote the reorganization plan draft of Shenzhen
China Bicycle Co., Ltd. and convene the investor meeting on the same day to consider and vote the investors’ interests adjustment
program involved in the reorganization plan draft. The Company will announce the results of the meeting separately. At present, the
reorganization is under way.
II. Main business analysis
Introduction
Since the Company entered the reorganization procedure in Oct., 2012, the business environment and client confidence of the
upstream-downstream selling supply chain was greatly impacted which resulted in decrease in business. Facing the special dilemma,
the company has adjusted the business policy, took root in the business, developed the information communication of the customer,
strengthened the details management, starting with the propaganda, sales promotion, order, purchase, marketing, transportation
service, balance accounts, and in-sales and after-sales services, and maintained the overall stable development of the business
operation furthest. The company makes all work proceed in order by grasping management, preventing the risks, implementing the
reorganization and adjusting the product structure. During the report period, the company has achieved operation revenue of
104,903,500 Yuan, operating profits of -29,322,000 Yuan, and net profits attributable to listed company’s shareholders of -29,283,600
Yuan, which overall kept the same and declined slightly compared with the same period of last year.
Y-o-y changes of main financial data
In RMB
Y-o-y increase/decrease
Current period Same period of last year Reasons for changes
(%)
Operation revenue 104,903,520.59 113,186,086.20 -7.32%
Operation cost 92,139,173.51 101,210,241.57 -8.96%
Increased the investment
Sales expenses 3,589,369.24 2,458,621.15 45.99% to maintain the business
steady
Mainly due to the
Administrative expenses 38,509,731.68 9,601,264.94 301.09% economic compensation
paid
Financial cost -198,651.27 33,204,294.32 -100.6% After the Company
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
entered the
reorganization process,
original interest-bearing
debt stopped to bear
interest, foreign currency
debt stopped to discount
exchange rate
Mainly due to the
Net cash flow arising
-20,556,480.08 -2,504,014.01 720.94% economic compensation
from operation activities
paid
Net cash flow arising
from investment 27,570.94 -10,166.98 -371.18%
activities
Mainly due to the
Net increase of cash and
-20,528,909.14 -2,514,180.99 716.52% economic compensation
cash equivalent
paid
Net profit attributable to
shareholders of listed -29,283,608.20 -33,344,485.07 -12.18%
company
Major changes on profit composition or profit resources in reporting period
√ Applicable □ Not applicable
The net profit attributable to shareholders of listed company was RMB -29,283,608.20 in the reporting period, and the loss was
mainly due to the economic compensation paid; net profit attributable to shareholders of listed company at the same period of last
year was RMB -33,344,485.07, and the loss mainly because debt interest was accrued in advance.
The future development and planning extended to reporting period that published in disclosure documents as prospectus, private
placing memorandum and recapitalize statement
□ Applicable √ Not applicable
No future development and planning extended to reporting period that published in disclosure documents as prospectus, private
placing memorandum and recapitalize statement
Review on the previous business plan and its progress during reporting period
Under the special business environment of the corporation reorganization, in the first half year of 2013, all work of the company has
proceeded in order, the business has kept the stable development, and the company has submitted the reorganization plan draft within
the legal time limit. Shenzhen Intermediate People's Court decided to hold the second meeting of creditors about the corporation
reorganization on 22nd, Aug., 2013 to consider and vote the reorganization plan draft of Shenzhen China Bicycle Co., Ltd. and
convene the investor meeting on the same day to consider and vote the investors’ interests adjustment program involved in the
reorganization plan draft. The Company will announce the results of the meeting separately. At present, the reorganization is under
way.
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
III. Constitution of main business
In RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Operating Gross profit ratio
Operating cost operating revenue operating cost profit ratio over
revenue (%)
over same period over same period same period of
of last year (%) of last year (%) last year (%)
According to industries
Bicycle and sales
91,085,989.79 86,181,559.63 5.38% -9.25% -9.42% 0.17%
of spare parts
Leasing
1,361,047.70 1,644,557.66 -20.83% 18.14% -37.32% 106.93%
management
According to products
OEM electric
69,701,335.81 66,261,490.66 4.94% -11.14% -10.97% -0.18%
vehicle
OEM bicycle 20,816,179.61 19,409,282.99 6.76% 5.85% 4.33% 1.37%
CBC electric
vehicle
CBC bicycle 281,709.39 233,886.84 16.98% 162.61% 150.25% 4.1%
Other 286,764.98 276,899.14 3.44% -86.72% -86.35% -2.67%
Leasing
1,361,047.70 1,644,557.66 -20.83% 18.14% -37.32% 106.93%
management
According to region
IV. Investment analysis
1. Main subsidiaries and joint-stock companies analysis
Main subsidiaries and joint-stock companies
In RMB
Main
Industry Registered Operation Operation
Name Type products or Total assets Net assets Net profit
involved capital revenue profit
service
Shenzhen
An Jule Property Property
RMB 2 1,173,596.2 -21,666,729 1,361,047.7
Property Subsidiary managemen managemen -385,039.13 -385,039.13
million 1 .65 0
Managemen t t
t Co., Ltd.
China
Trading and HK$ 0.02
Bicycle Subsidiary Bicycle 565,493.40 -739,399.91 0.00 0.00 0.00
manufacture million
(Internation
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
al) Co., Ltd.
China
Bicycle Sales of
HK$ 5 15,496,178. -50,588,239
(Hong Subsidiary Bicycle bicycles and 0.00 0.00 0.00
million 40 .35
Kong) Co., accessories
Ltd.
Shenzhen
Sales of
Emmelle RMB 2 62,303,355. 91,669,708.
Subsidiary Bicycle bicycles and 210,645.61 -56,363.21 8,736.79
Industry million 95 79
accessories
Co., Ltd.
V. Prediction of business performance from January – September 2013
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
warning of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable √ Not applicable
VI. Explanation from the Board and Supervisory Committee for “Qualified Opinion” from
the CPA of this year’s
Un-audited in the reporting
VII. Explanation from the Board for “Qualified Opinion” of last year’s
Financial Report of the Company for year of 2012 was audited by Crowe Horwath China CPA (LLP) with disclaimer of opinion
issued. In according to regulation of Rules Governing the Listing of Stocks on Shenzhen Stock Exchange, the specific explanations
with events involved in audit report from the Board are:
Disclaimer of opinion from CPA:
1. CBC started reforming on 25th, Oct., 2012, tax administration, customs, finance, guarantees, suppliers, and other creditors have
declared financial claims to the custodian, up to the audit report date, the financial claims declaration has amounted to
3,453,252,904.97 Yuan, the total amount of financial claims that the custodian has confirmed and enrolled in The Form of Claims
was 1,875,616,630.22 Yuan, above-mentioned financial claims declared by the creditors are different from the accounting and
haven’t been ruled by the court, Crowe Horwath China CPAs cannot confirm its effects on financial statements of China Bicycle
Company.
2. Refer to the statement in Note X.: ended as 31 December 2012, total assets of CBC was 162,649,076.30 Yuan, total liability was
1,872,039,760.06 Yuan while net assets was -1,709,390,683.76 Yuan for serious insolvency resulted with vary huge over due debts,
taxes and lawsuit debts arising from external guarantee and overdue debts; Being application from first majority shareholder and
largest creditor of CBC, Shenzhen Guosheng Energy Investment Development Co., Ltd, CBC was ruled to reorganize since 25
October 2012 by Shenzhen Intermediate People’s Court. As to the end of audit reporting date, CBC still in process of reorganization
without judge from Shenzhen Intermediate People’s Court, Crowe Horwath China is unable to obtained complete-ness and properly
auditing evidence to guarantee whether it can improve the sustainable operational ability for China Bicycle. Therefore, Crowe
Horwath China fail to judge the appropriate-ness of the financial statement 2012 of CBC that prepared under the sustainable
hypothesis.
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Specific explanation from the Board:
On 11th, May 2012, the largest shareholder and biggest creditor of the Company, Shenzhen Guosheng Energy Investment and
Development Co., Ltd. applied to Shenzhen Municipal Intermediate People's Court for reforming the Company as the Company
couldn’t pay off the matured debts and was seriously insolvent. On 12th, Oct., 2012, Shenzhen Municipal Intermediate People's Court
ruled to accept the application proposed by Guosheng Energy according to (2012) Shenzhen Intermediate Court Po Zi No. 30 civil
ruling. In late October, 2012, Shenzhen Municipal Intermediate People's Court ruled to reform the Company since 25th, Oct., 2012
according to (2012) Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen) Mallesons and
Shenzhen Zhengyuan Liquidation Affairs Co., Ltd. as the custodians of the Company. At the same time, Shenzhen Municipal
Intermediate People's Court made (2012) Shenzhen Intermediate Court Po Zi No. 30-1 written decision, and approved the Company
to manage property and business affairs by itself under the supervision of custodians according to the law. After the Company entered
bankruptcy reorganization procedures, in accordance with the relevant regulations of Enterprise Bankruptcy Law of the People's
Republic of China, the custodians started creditor's rights declaring registration and examination, and the first meeting of creditors of
the Company’s reorganization case was presided over by Shenzhen Municipal Intermediate People's Court and convoked on 11th,
Dec., 2012. According to the legal provisions, the company has established the reorganization plan draft, and submitted to Shenzhen
Intermediate People's Court and the meeting of creditors of the company within the legal time limit. On 31st, Jul., 2013, the
company has received the written ruling for confirming the financial claim from the court and announced it. Soon afterwards,
Shenzhen Intermediate People's Court decided to hold the second meeting of creditors about the corporation reorganization on 22nd,
Aug., 2013 to consider and vote the reorganization plan draft of Shenzhen China Bicycle Co., Ltd. and convene the investor meeting
on the same day to consider and vote the investors’ interests adjustment program involved in the reorganization plan draft. At present,
the reforming is being advanced, the Company will solve the debt crisis via the reforming, introduce strong recombination party, and
transfuse high quality assets so as to recover the Company’s sustainable operation ability and profitability and realize benign
development of the Company.
VIII. Implementation of profit distribution in reporting period
Implementation or adjustment of profit distribution plan in reporting period, cash dividend plan and shares converted from capital
reserve in particular
□Applicable √Not applicable
The Company has no profit distribution and shares converted from capital reserve either, which was deliberated and approved in
annual shareholders’ general meeting of 2012
IX. Plan of profit distribution and capital reserve capitalizing in the reporting
There is no plan of profit distribution or capital reserve capitalizing in the reporting.
X. In the report period, reception of research, communication and interview
Contents discussed and
Time Place Way Type Reception
material provided
Office of the Phone Shareholders of Restructure progress of the
2013-1-1 to 6-30 Individual investor
Company communication circulating shares Company
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section V. Iimportant Events
I. Corporate governance
During the report period, in accordance with its actual situation, the Company has constantly improved the corporate governance
structure of the company and strived to establish the modern enterprise system by strictly following the requirements of the Company
Law, the Securities Law, and the Governance Standards for Listed Companies, and the normative documents. The Company also has
operated and convoked the stockholders' meeting, the board meeting and the meeting of the board of directors by strictly following
the relevant rules and procedures of the Articles of Association, and has maintained the interests of the company. The actual situation
of the corporate governance structure meets requirements of the normative documents about the governance of listed companies
issued by the China Securities Regulatory Commission.
Actual corporate governance of the Company shows no difference with the Company Law and relevant regulations of CSRC
II. Significant lawsuits and arbitrations of the Company
□Applicable √Not applicable
The Company has no significant lawsuits and arbitrations in reporting period
III. Question from media
□ Applicable √ Not applicable
No universal questioned by media in reporting period
IV. Bankruptcy reorganization
On 11th, May, 2012, the largest shareholder and biggest creditor of the Company, Shenzhen Guosheng Energy Investment and
Development Co., Ltd. applied to Shenzhen Municipal Intermediate People's Court for reforming the Company as the Company
couldn’t pay off the matured debts and was seriously insolvent. On 12th, Oct., 2012, Shenzhen Municipal Intermediate People's Court
ruled to accept the application proposed by Guosheng Energy according to (2012) Shenzhen Intermediate Court Po Zi No. 30 civil
ruling. In late October 2012, Shenzhen Municipal Intermediate People's Court ruled to reform the Company since 25th, Oct., 2012
according to (2012) Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen) Mallesons and
Shenzhen Zhengyuan Liquidation Affairs Co., Ltd. as the custodians of the Company. On the same time, Shenzhen Municipal
Intermediate People's Court made (2012) Shenzhen Intermediate Court Po Zi No. 30-1 written decision, and approved the Company
to manage property and business affairs by itself under the supervision of custodians according to the law. After the Company entered
bankruptcy reorganization procedures, in accordance with the relevant regulations of Enterprise Bankruptcy Law of the People's
Republic of China, the custodians started creditor's rights declaring registration and examination, and the first meeting of creditors of
the Company’s reorganization case was presided over by Shenzhen Municipal Intermediate People's Court and convoked on 11th,
Dec., 2012. According to the legal provisions, the company has established the reorganization plan draft, and submitted to Shenzhen
Intermediate People's Court and the meeting of creditors of the company within the legal time limit. On 31st, Jul., 2013, the
company has received the written ruling for confirming the financial claim from the court and announced it. Soon afterwards,
Shenzhen Intermediate People's Court decided to hold the second meeting of creditors about the corporation reorganization on 22nd,
Aug., 2013 to consider and vote the reorganization plan draft of Shenzhen China Bicycle Co., Ltd. and convene the investor meeting
on the same day to consider and vote the investors’ interests adjustment program involved in the reorganization plan draft. The
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
reorganization still in process recently
V. Transaction in assets
Nil
VI. Implementation and its influence of equity incentive
Nil
VII. Insignificant related transactions
1. Contact of related credit and debt
Whether exist non-operating contact of related credit and debt or not
√Yes □No
Whether exist Balance of Amount of the
Balance at
non-operation period-begin period
Related Type of credit Forming period-end (in
Related party al capital (in 10 occurrence (in
relationship and debt reason 10 thousand
occupying thousand 10 thousand
Yuan)
Yuan) Yuan)
Shenzhen Guosheng Debts of
Controlling
Energy Investment related party 41,678.31 41,678.31
shareholder
Development Co., Ltd. payable
Shenzhen Guosheng Debts of
Controlling
Energy Investment related party 435.33 435.33
shareholder
Development Co., Ltd. payable
Shenzhen Guosheng Debts of
Controlling
Energy Investment related party 4,510 4,510
shareholder
Development Co., Ltd. payable
Shenzhen Jinhuan Debts of
Printing Board Co., Associates related party 261.64 261.64
Ltd. payable
2. Other insignificant related transactions
Nil
VIII. Significant contracts and its implementation
1. Trusteeship, contracting and leasing
Nil
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
2. Guarantees
In ten thousand Yuan
Particulars about the external guarantee of the Company (Barring the guarantee for the controlling subsidiaries)
Guarante
Related Actual date of
Complete e for
Announcem happening
Name of the Guarantee Actual Guarantee Guarantee implemen related
ent (Date of
Company guaranteed limit guarantee limit type term tation or party
disclosure signing
not (Yes or
date agreement)
no)
Guangdong Sunrise General
1996-07-26 1,960 1996-07-26 1,960 4 months No No
Group Co., Ltd. guarantee
Guangdong Sunrise General
1999-09-30 477.28 1999-09-30 477.28 12months No No
Group Co., Ltd. guarantee
Guangdong Sunrise General
1998-04-30 182 1998-04-30 182 11 months No No
Group Co., Ltd. guarantee
Guangdong Sunrise General
1997-07-30 175 1997-07-30 175 7 months No No
Group Co., Ltd. guarantee
Guangdong Sunrise General
1997-06-04 210 1997-06-04 210 8months No No
Group Co., Ltd. guarantee
Jintian Industry General
1998-10-30 5,000 1998-10-30 5,000 6 months No No
(Group) Co., Ltd. guarantee
Shenzhen Tianma General
1994-09-30 800 1994-09-30 800 12 months No No
Cosmetics Co., Ltd guarantee
Total actual occurred external
Total approving external
0 guarantee in report period 0
guarantee in report period (A1)
(A2)
Total actual balance of
Total approved external guarantee
0 external guarantee at the end 8,804.29
at the end of report period ( A3)
of report period (A4)
Guarantee of the Company for the subsidiaries
Guarante
Related Actual date of
Complete e for
Announcem happening
Name of the Guarantee Actual Guarantee Guarantee implemen related
ent (Date of
Company guaranteed limit guarantee limit type term tation or party
disclosure signing
not (Yes or
date agreement)
no)
Shandong
General
Huajiaming 1997-09-03 8.31 1997-09-03 8.31 4 months No No
guarantee
Economic and Trade
16
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Co., Ltd.
General
Zoria Pte Ltd 1996-03-25 7,808.7 1996-03-25 7,808.7 9 months No No
guarantee
Total amount of actual
Total amount of approving
occurred guarantee for
guarantee for subsidiaries in 0 0
subsidiaries in report period
report period (B1)
(B2)
Total balance of actual
Total amount of approved
guarantee for subsidiaries at
guarantee for subsidiaries at the 0 7,817.01
the end of reporting period
end of reporting period (B3)
(B4)
Total amount of guarantee of the Company( total of two abovementioned guarantee)
Total amount of approving Total amount of actual
guarantee in report period 0 occurred guarantee in report 0
(A1+B1) period (A2+B2)
Total amount of approved Total balance of actual
guarantee at the end of report 0 guarantee at the end of report 16,621.3
period (A3+B3) period (A4+B4)
The proportion of the total amount of actually guarantee in the
-9.56%
net assets of the Company (that is A4+ B4) (%)
Including:
The debts guarantee amount provided for the guaranteed parties
16,621.3
whose assets-liability ratio exceed 70% directly or indirectly(D)
Total amount of the aforesaid three guarantees(C+D+E) 16,621.3
Explanations on possibly bearing joint and several liquidating
N/A
responsibilities for undue guarantees (if applicable)
Explanation on guarantee with way of complex
IX. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or occurring in the previous period but extending to reporting
period
Commitment Commitme
Commitments Promisee Content of commitments Implementation
date nt term
The original non-circulated
shares are not available for
Shenzhen
trading or transfer in 12
Guosheng
months since Reform
Energy
implemented; after the
Commitments for Development
aforesaid period expired, 2006-12-29 Implemented
Share Merger Reform Co., Ltd,;
original shareholders with
Zhuorun
over 5% of non-circulated
Technology
shares held can list the share
Co., Ltd.
on Shenzhen Stock
Exchange; the proportion of
17
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
sold shares should be over
5% within 12 months and no
more 10% deal in 24
months.
Commitments in report of
acquisition or equity change
Commitments in assets replacement
Commitments in initial public offering
or refinancing
Other commitments for medium and
small shareholders
Completed on time or not Yes
Detail reasons for un-complement and
No
further plan (if applicable )
X. Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□ Yes √ No
XI. Penalty and rectification
Explanation on rectification
□Applicable √ Not applicable
XII. Explanation on other significant events
Nil
18
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in shares
Before the Changes Increase/Decrease in the Change (+, -) After the Changes
Public
Newly-
Proportion Bonus reserve-co Proportio
Amount issued Others Subtotal Amount
(%) shares nverted n (%)
shares
shares
37,542,58 -27,567,39 -27,567,39
I. Restricted shares 6.81% 0 0 0 9,975,190 1.81%
7 7 7
1、State-owned shares 0 0% 0 0 0 0 0 0 0%
2. State-owned legal
0 0% 0 0 0 0 0 0 0%
person’s shares
37,531,01 -27,567,39 -27,567,39
3、Other domestic shares 6.81% 0 0 0 9,963,618 1.81%
5 7 7
Including: Domestic legal 37,531,01 -27,567,39 -27,567,39
6.81% 0 0 0 9,963,618 1.81%
person’s shares 5 7 7
Domestic natural person’s
0 0% 0 0 0 0 0 0
shares
4. Foreign shares 0 0% 0 0 0 0 0 0
Including: Foreign legal
0 0% 0 0 0 0 0 0 0%
person’s shares
Foreign natural person’s
0 0% 0 0 0 0 0 0 0%
shares
5. Senior executives’
11,572 0% 0 0 0 0 0 11,572 0%
shares
513,805,3 27,567,39 27,567,39 541,372,7
II. Unrestricted shares 93.19% 0 0 0 98.19%
60 7 7 57
265,445,0 27,567,39 27,567,39 293,012,4
1. RMB Ordinary shares 48.14% 0 0 0 53.14%
03 7 7 00
2. Domestically listed 248,360,3 248,360,3
45.05% 0 0 0 0 0 45.05%
foreign shares 57 57
3. Overseas listed foreign
0 0% 0 0 0 0 0 0 0%
shares
4. Others 0 0% 0 0 0 0 0 0 0%
551,347,9 551,347,9
III. Total shares 100% 0 0 0 0 0 100%
47 47
19
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Reasons for share changed
√Applicable □Not applicable
The restricted 27,567,397 shares held by Shenzhen Guosheng Energy Investment Development Co., Ltd.(largest shareholder of the
Company) was listed for trading on 8 February 2013, representing 5.00 percent of total share of the Company.
Approval of share changed
√Applicable □Not applicable
Being examined by Zhongshan Securities Co., Ltd. (sponsor of the Share Reform), the desterilization of non-tradabel shares from
Shenzhen Guosheng Energy Investment Development Co., Ltd. meets requirement and relevant regulation of “Management Method
of Equity Division Reform for Listed Company” without violated relevant commitments of equity division reform, and the stocks are
listed for trading after verified and approved by Shenzhen Stock Exchange.
Ownership transfer of share changed
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
Explanation on changes of total shares and shareholders structure as well as changes of structure of assets and liability
□ Applicable √ Not applicable
II. Number of shares and shares held
In Share
Total shareholders at period-end 34,427(including 21,358 A-share and 13,069 B-share)
Shareholders with over 5% shares held
Number Number of share pledged/frozen
Amount Amount
of Changes
of of
Nature of Proportion of shares in
Shareholders restrict un-restri
shareholder shares held (%) held at reportin State of share Amount
shares ct shares
period-e g period
held held
nd
Shenzhen
Guosheng Energy Domestic
65,098, 9,963,6 55,134,
Investment non-State-owned 11.81% 0 0
412 18 794
Development legal person
Co., Ltd.
Zhuorun Foreign legal 44,104, 44,104,
8% 0 0 0
Technology Co., person 246 246
20
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Ltd.
Domestic nature 6,894,2 6,894,2
Zeng Ying 1.25% 0 0
person 57 57
Shenzhen
Kangsheng Domestic
5,972,5 5,972,5
Investment non-State-owned 1.08% 0 0
00 00
Development legal person
Co., Ltd.
Jingchao
Foreign legal 5,001,9 5,001,9
Investment Co., 0.91% 0 0
person 44 44
Ltd.
Domestic nature 2,293,2 2,293,2
Li Gaofeng 0.42% 0 0
person 41 41
Domestic nature 2,221,9 2,221,9
Wang Haoyu 0.4% 0 0
person 33 33
TANG JING Foreign nature 2,213,1 2,213,1
0.4% 0 0
YUAN person 75 75
GUOTAI
JUNAN
Foreign legal 2,208,0 2,208,0
SECURITIES(H 0.4% 0 0
person 17 17
ONGKONG)
LIMITED
Domestic nature 2,061,7 2,061,7
Liu Xiuhuang 0.37% 0 0
person 07 07
Among the shareholders with over 5% shares held the Company was unaware of whether
Explanation on associated
there existed associated relationship or whether there existed consistent actionist regulated in
relationship among the aforesaid
the Management Measure of Information Disclosure on Change of Shareholding for Listed
shareholders
Companies
Particulars about the shares held by the top ten unrestricted shareholders
Type of shares
Shareholders Amount of unrestricted shares held at period-end
Type Amount
Shenzhen Guosheng Energy RMB common
55,134,794 55,134,794
Investment Development Co., Ltd. shares
RMB common
Zhuorun Technology Co., Ltd. 44,104,246 44,104,246
shares
Domestically
Zeng Ying 6,894,257 listed foreign 6,894,257
shares
Shenzhen Kangsheng Investment 5,972,500 RMB common 5,972,500
21
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Development Co., Ltd. shares
RMB common
Jingchao Investment Co., Ltd. 5,001,944 5,001,944
shares
Domestically
Li Gaofeng 2,293,241 listed foreign 2,293,241
shares
RMB common
Wang Haoyu 2,221,933 2,221,933
shares
Domestically
TANG JING YUAN 2,213,175 listed foreign 2,213,175
shares
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 2,208,017 listed foreign 2,208,017
LIMITED shares
Domestically
Liu Xiuhuang 2,061,707 listed foreign 2,061,707
shares
Expiation on associated relationship
or consistent actors within the top 10 Among the other circulating shareholders, the Company was unaware of whether there
existed associated relationship or whether there existed consistent actionist regulated in the
un-restrict shareholders and between
Management Measure of Information Disclosure on Change of Shareholding for Listed
top 10 un-restrict shareholders and Companies.
top 10 shareholders
Explanation on shareholders
involving margin business (if N/A
applicable)(note 4)
Whether has a buy-back agreement dealing in reporting period
□Yes √No
III. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period
□ Applicable √ Not applicable
22
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section VII. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior executives have no changes in reporting period, found more details in Annual Report
2012.
II. Changes of directors, supervisors and senior executives
There is no change of directors, supervisors and senior executives in the reporting.
23
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section VIII. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
Units in Notes of Financial Statements is RMB
1. Consolidated balance sheet
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 31,866,451.72 52,395,360.86
Settlement funds
Lending funds
Tradable financial assets
Notes receivable 7,836,971.30 1,627,810.00
Accounts receivable 692,626.30 6,002,162.94
Prepayments 4,809,886.63 829,956.13
Premium receivable
Reinsurance accounts receivable
Reinsurance contract reserve
receivable
Interest receivable
Dividend receivable
Other account receivable 16,682,217.15 23,467,668.87
Buying back the sale of financial
assets
Inventory 35,959,634.12 17,612,197.85
Non-current assets due within one
year
24
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Other current assets
Total current assets 97,847,787.22 101,935,156.65
Non-current assets:
Issuance of loans and advances
Financial assets available for Sale
Held-to-maturity investment
Long-term receivables
Long term equity investment 2,619,840.50 2,619,840.50
Investment real estate 20,909,802.94 21,395,176.24
Fixed asset 12,623,151.83 12,970,199.73
Project in progress
Project materials
Liquidation of fixed asset
Productive biological asset
Oil and gas asset
Intangible asset 23,297,272.16 23,728,703.18
Development expenditure
Goodwill
Long-term deferred expenditure
Deferred income tax asset
Other non-current asset
Total non-current asset 59,450,067.43 60,713,919.65
Total Assets 157,297,854.65 162,649,076.30
Current Liabilities:
Short-term borrowing 355,796,107.93 355,796,107.93
Borrowing from the central bank
Deposits and interbank deposit
Borrowed capital
Transaction financial liabilities
Notes payable
Accounts payable 138,975,694.45 118,475,773.47
Account received in advance 19,363,778.13 13,660,199.55
Financial assets sold for
repurchase
25
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Fees and commissions payable
Salary payable 3,785,531.50 3,983,845.52
Taxes payable 96,628,906.90 95,980,708.60
Interest payable 230,575,685.75 230,575,685.75
Dividend payable
Other payables 428,538,776.34 431,275,594.67
Reinsurance payables
Reserves for insurance contracts
Agency securities trading
Agency securities underwriting
Non-current liabilities due within
453,747,741.58 453,747,741.58
one year
Other current liabilities 2,344,350.07 2,331,150.07
Total current liabilities 1,729,756,572.65 1,705,826,807.14
Non-current liabilities
Long-term loans
Bonds payable
Long-term payables
Special payables
Accrued liabilities 166,212,952.92 166,212,952.92
Deferred income tax liability
Other non-current liability
Total non-current liability 166,212,952.92 166,212,952.92
Total liability 1,895,969,525.57 1,872,039,760.06
Owners’ equity (or Shareholder’s
equity):
Paid-in capital(share capital) 551,347,947.00 551,347,947.00
Capital surplus 486,589,213.20 486,589,213.20
Less: treasury stock
Special reserve
Surplus reserve 32,673,227.01 32,673,227.01
Reserve for general risks
Retained profit -2,809,345,251.82 -2,780,061,643.62
Converted difference in foreign
currency Statements
26
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Total owner’s equity attributable to
-1,738,734,864.61 -1,709,451,256.41
parent company
Interest of minority shareholders 63,193.69 60,572.65
Total owners’ equity (or shareholders
-1,738,671,670.92 -1,709,390,683.76
equity)
Total liabilities and owners’ equity (or
157,297,854.65 162,649,076.30
shareholders equity)
Legal Representative: Luo Guiyou Person in Charge of Accounting: Zhang Zebing
Person in Charge of Accounting Department: Sun Longlong
2. Balance Sheet of Parent Company
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
In RMB
Item Closing balance Opening balance
Current assets:
Monetary fund 8,088,545.87 31,432,888.50
Tradable financial assets
Notes receivable
Accounts receivable 1,114,712.60 1,014,896.60
Prepayments
Interest receivable
Dividend receivable
Other account receivable 48,342,087.03 52,910,895.39
Inventory 9,482,709.51 9,779,439.79
Non-current assets due within one
year
Other current assets
Total current assets 67,028,055.01 95,138,120.28
Non-current assets:
Financial assets available for Sale
Held-to-maturity investment
Long-term receivables
Long term equity investment 2,619,840.50 2,619,840.50
Investment real estate 20,909,802.94 21,395,176.24
Fixed assets 12,380,089.99 12,676,971.13
27
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Project in progress
Project materials
Liquidation of fixed assets
Productive biological asset
Oil and gas asset
Intangible assets 23,297,272.16 23,728,703.18
Development expenditure
Goodwill
Long-term deferred expenditure
Deferred income tax asset
Other non-current assets
Total non-current assets 59,207,005.59 60,420,691.05
Total assets 126,235,060.60 155,558,811.33
Current liabilities:
Short-term borrowing 320,902,551.61 320,902,551.61
Transaction financial liabilities
Notes payable
Accounts payable 124,098,936.31 124,098,936.31
Account received in advance 10,664,592.85 10,664,592.85
Salary payable 2,011,494.65 2,151,710.33
Taxes payable 95,526,560.43 94,891,954.20
Interest payable 230,575,685.75 230,575,685.75
Dividend payable
Others payables 386,061,830.31 386,975,286.77
Non-current liabilities due within
453,747,741.58 453,747,741.58
one year
Other current liabilities 2,320,660.19 2,320,660.19
Total current liabilities 1,625,910,053.68 1,626,329,119.59
Non- current liabilities:
Long-term loans
Bonds payable
Long-term payables
Special payables
Accrued liabilities 166,212,952.92 166,212,952.92
28
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Deferred income tax liability
Other non-current liability
Total non-current liability 166,212,952.92 166,212,952.92
Total liabilities 1,792,123,006.60 1,792,542,072.51
Owners’ equity (or Shareholder’s
equity):
Paid-in capital(share capital) 551,347,947.00 551,347,947.00
Capital surplus 486,589,213.20 486,589,213.20
Less: treasury stock
Special reserve
Surplus reserve 32,673,227.01 32,673,227.01
Reserve for general risks
Retained profit -2,736,498,333.21 -2,707,593,648.39
Converted difference in foreign
currency
Total owners’ equity (or shareholders
-1,665,887,946.00 -1,636,983,261.18
equity)
Total liabilities and owners’ equity (or
126,235,060.60 155,558,811.33
shareholders equity)
Legal Representative: Luo Guiyou Person in Charge of Accounting: Zhang Zebing
Person in Charge of Accounting Department: Sun Longlong
3. Consolidated Income Statements
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
In RMB
Item Current Amount Amount of the Previous Period
I. Total operation revenue 104,903,520.59 113,186,086.20
Including: Operating revenue 104,903,520.59 113,186,086.20
Interest income
Earned premium
Fee and commission
income
II Total Operating cost 134,225,562.75 146,542,399.62
Including: Operating costs 92,139,173.51 101,210,241.57
Interest costs
29
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Fee and commission costs
Cash surrender
Net compensation expenses
Net extraction reserves for
insurance contracts
Policy dividend payout
Reinsurance expense
Business tax and surcharge 185,939.59 83,566.51
Sales expenses 3,589,369.24 2,458,621.15
Administrative expenses 38,509,731.68 9,601,264.94
Financial expenses -198,651.27 33,204,294.32
Asset impairment losses -15,588.87
Add: gains from changes of
fair value (Loss is listed with “-”)
Investment gain (Loss is
listed with “-”)
Including: Investment gains
on affiliated Company and joint venture
Exchange gains (Loss is
listed with “-”)
III. Operating profits (Loss is listed
-29,322,042.16 -33,356,313.42
with “-”)
Add: Non-operating income 66,345.00 80,257.23
Less: Non-operating expenditure 25,290.00 22,000.00
Including: Disposal loss on
non-current liability
IV Total profits (Total loss is listed with
-29,280,987.16 -33,298,056.19
“-”)
Less: Income tax expenses
V. Net profit (Net loss is listed with “-”) -29,280,987.16 -33,298,056.19
Including: Net profit generated by
combined party before merged
Net profit attribute to owners of
-29,283,608.20 -33,344,485.07
parent company
Minority interest 2,621.04 46,428.88
VI. Earnings per share(EPS) -- --
30
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(i) Basic Earnings per share(EPS) -0.0531 -0.0605
(ii) Diluted Earnings per
-0.0531 -0.0605
share(EPS)
VII. Other consolidated income
VIII. Total consolidated income -29,280,987.16 -33,298,056.19
Total consolidated income
attributable to owners of parent -29,283,608.20 -33,344,485.07
company
Total consolidated income
2,621.04 46,428.88
attributable to minority shareholders
Legal Representative: Luo Guiyou Person in Charge of Accounting: Zhang Zebing
Person in Charge of Accounting Department: Sun Longlong
4. Profit Statement of parent company
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
In RMB
Items Current Amount Amount of the Previous Period
I. Operation revenue 13,529,519.88 12,586,398.55
Less: Operating costs 4,562,602.46 3,494,706.28
Business tax and surcharge
Sales expenses
Administrative expenses 37,950,216.66 8,590,635.73
Financial expenses -102,659.42 33,240,370.76
Asset impairment losses -15,588.87
Add: gains from changes of fair
value(Loss is listed with “-”)
Investment gain(Loss is listed
with “-”)
Including: Investment gains
on affiliated Company and joint venture
III. Operating profits (Loss is listed
-28,880,639.82 -32,723,725.35
with “-”)
Add: Non-operating income 1,245.00 70,257.23
Less: Non-operating expenditure 25,290.00 21,980.00
Including: Disposal loss on
non-current liability
III. Total profit (Loss is listed with “-”) -28,904,684.82 -32,675,448.12
Less: Income tax expenses
31
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
IV. Net profit (net loss is listed with “-”) -28,904,684.82 -32,675,448.12
V. Earnings per share(EPS): -- --
(i) Basic Earnings per share(EPS) -0.0524 -0.0593
(ii) Diluted Earnings per
-0.0524 -0.0593
share(EPS)
VI. Other consolidated income
VII. Total consolidated income -28,904,684.82 -32,675,448.12
Legal Representative: Luo Guiyou Person in Charge of Accounting: Zhang Zebing
Person in Charge of Accounting Department: Sun Longlong
5. Consolidated Cash Flow Statement
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
In RMB
Items Current Amount Amount of the Previous Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 60,803,029.90 80,538,581.70
services
Net increase of customer deposit 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
Net increase of disposal of
transaction financial asset
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Write-back of tax received
32
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Other cash received concerning
19,329,843.70 12,421,194.72
operating activities
Subtotal of cash inflow arising from
80,132,873.60 92,959,776.42
operating activities
Cash paid for purchasing
commodities and receiving labor 53,975,862.67 74,510,481.06
service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 35,436,172.27 9,162,440.28
Taxes paid 2,778,235.49 4,851,947.12
Other cash paid concerning
8,499,083.25 6,938,921.97
operating activities
Subtotal of cash outflow arising from
100,689,353.68 95,463,790.43
operating activities
Net cash flows arising from operating
-20,556,480.08 -2,504,014.01
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term 32,000.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
33
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Subtotal of cash inflow from investing
32,000.00
activities
Cash paid for purchasing fixed,
4,429.06 10,166.98
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash paid for obtaining
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
4,429.06 10,166.98
activities
Net cash flows arising from investing
27,570.94 -10,166.98
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
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
activities
Cash paid for settling debts
Cash paid for dividend and profit
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
activities
Net cash flows arising from financing
34
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
-20,528,909.14 -2,514,180.99
equivalents
Add: Balance of cash and cash
52,395,360.86 24,546,601.39
equivalents at the period -begin
VI. Balance of cash and cash
31,866,451.72 22,032,420.40
equivalents at the period -end
Legal Representative: Luo Guiyou Person in Charge of Accounting: Zhang Zebing
Person in Charge of Accounting Department: Sun Longlong
6. Cash Flow Statement of parent company
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
In RMB
Item Current Amount Amount of the Previous Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 5,265.00
services
Write-back of tax received
Other cash received concerning
18,804,524.65 7,339,369.17
operating activities
Subtotal of cash inflow arising from
18,804,524.65 7,344,634.17
operating activities
Cash paid for purchasing
commodities and receiving labor
service
Cash paid to/for staff and workers 32,536,140.33 505,370.10
Taxes paid 1,515,331.51 714,478.37
Other cash paid concerning
8,097,395.44 6,467,244.60
operating activities
Subtotal of cash outflow arising from
42,148,867.28 7,687,093.07
operating activities
Net cash flows arising from operating
-23,344,342.63 -342,458.90
activities
II. Cash flows arising from investing
35
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
activities:
Cash received from recovering
investment
Cash received from investment
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
activities
Cash paid for purchasing fixed,
2,717.95
intangible and other long-term assets
Cash paid for investment
Net cash paid for obtaining
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
2,717.95
activities
Net cash flows arising from investing
-2,717.95
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
activities
Cash paid for settling debts
Cash paid for dividend and profit
distributing or interest paying
36
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
activities
Net cash flows arising from financing
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
-23,344,342.63 -345,176.85
equivalents
Add: Balance of cash and cash
31,432,888.50 561,283.08
equivalents at the period -begin
VI. Balance of cash and cash
8,088,545.87 216,106.23
equivalents at the period -end
Legal Representative: Luo Guiyou Person in Charge of Accounting: Zhang Zebing
Person in Charge of Accounting Department: Sun Longlong
7. Consolidated Statement on Changes of Owners' Equity
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
Current Amount
In RMB
Current Amount
Owners' equity attributable to the parent company
Interest of
Paid-in Reserve Total
Item minority
Less:
capital(s Capital Special Surplus for Retaine owners’
treasury Other sharehold
hare surplus reserve reserve general d profit equity
stock ers
capital) risks
-2,780,0
I. Balance at the end of last 551,347 486,589, 32,673, -1,709,390,
61,643.6 60,572.65
year ,947.00 213.20 227.01 683.76
2
Add: Changes of
accounting policy
Error correction of
previous period
Others
-2,780,0
II. Balance at the beginning of 551,347 486,589, 32,673, -1,709,390,
61,643.6 60,572.65
this year ,947.00 213.20 227.01 683.76
2
III. Increase/ Decrease in this -29,283, 2,621.04 -29,280,98
37
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
year (Decrease is listed 608.20 7.16
with'"-")
-29,283, -29,280,98
(i) Net profit 2,621.04
608.20 7.16
(ii) Other consolidated income
-29,283, -29,280,98
Subtotal of (i)and (ii) 2,621.04
608.20 7.16
(III) Owners' devoted and
decreased capital
1. Owners' devoted capital
2. Amount calculated into
owners' equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus
reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) 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. Others
(VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
-2,809,3
IV. Balance at the end of the 551,347 486,589, 32,673, -1,738,671,
45,251.8 63,193.69
report period ,947.00 213.20 227.01 670.92
2
Amount in last year
38
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
In RMB
Amount in last year
Owners’ equity attributable to the parent company
Interest of
Paid-in Reserve Total
Items Less: minority
capital(s Capital Special Surplus for Retaine owners’
treasury Other sharehold
hare surplus reserve reserve general d profit equity
stock ers
capital) risks
-2,727,6
I. Balance at the end of last 551,347 460,757, 32,673, -1,682,839,
18,409.3
year ,947.00 567.84 227.01 667.48
3
Add: retroactive
adjustment arising from
enterprise consolidation under
the same control
Add: Changes of
accounting policy
Error correction of
previous period
Other
-2,727,6
II. Balance at the beginning of 551,347 460,757, 32,673, -1,682,839,
18,409.3
this year ,947.00 567.84 227.01 667.48
3
III. Increase/ Decrease in this
25,831,6 -52,443, -26,551,01
year (Decrease is listed 60,572.65
45.36 234.29 6.28
with’”-”)
-52,443, 316,614.6 -52,126,61
(i) Net profit
234.29 4 9.65
(II) Other consolidated income
-52,443, 316,614.6 -52,126,61
Subtotal of (i)and (ii)
234.29 4 9.65
(III) Owners’ devoted and 25,831,6 25,831,645
decreased capital 45.36 .36
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
25,831,6 25,831,645
3. Others
45.36 .36
(IV)Profit distribution
1. Withdrawal of surplus
39
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) 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. Others
( VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
-256,041. -256,041.9
(VII) Other
99 9
-2,780,0
IV. Balance at the end of the 551,347 486,589, 32,673, -1,709,390,
61,643.6 60,572.65
report period ,947.00 213.20 227.01 683.76
2
Legal Representative: Luo Guiyou Person in Charge of Accounting: Zhang Zebing
Person in Charge of Accounting Department: Sun Longlong
8. Statement on Changes of Owners' Equity of Parent Company
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
Current Amount
In RMB
Current Amount
Paid-in Less: Reserve Total
Items Capital Special Surplus Retained
capital(sha treasury for general owners’
surplus reserve reserve profit
re capital) stock risks equity
551,347,94 486,589,21 32,673,227 -2,707,593, -1,636,983,
I. Balance at the end of last year
7.00 3.20 .01 648.39 261.18
Add: Changes of accounting
policy
Error correction of
40
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
previous period
Other
II. Balance at the beginning of 551,347,94 486,589,21 32,673,227 -2,707,593, -1,636,983,
this year 7.00 3.20 .01 648.39 261.18
III. Increase/ Decrease in this -28,904,68 -28,904,68
year (Decrease is listed with’”-”) 4.82 4.82
-28,904,68 -28,904,68
(i) Net profit
4.82 4.82
(II) Other consolidated income
-28,904,68 -28,904,68
Subtotal of (i)and (ii)
4.82 4.82
(III) Owners’ devoted and
decreased capital
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) 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. Others
(VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
41
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
IV. Balance at the end of the 551,347,94 486,589,21 32,673,227 -2,736,498, -1,665,887,
report period 7.00 3.20 .01 333.21 946.00
Amount in last year
In RMB
Amount in last yea
Paid-in Less: Reserve Total
Item Capital Special Surplus Retained
capital(sha treasury for general owners’
surplus reserve reserve profit
re capital) stock risks equity
551,347,94 460,757,56 32,673,227 -2,657,896, -1,613,118,
I. Balance at the end of last year
7.00 7.84 .01 939.41 197.56
Add: Changes of accounting
policy
Error correction of previous
period
Other
II. Balance at the beginning of 551,347,94 460,757,56 32,673,227 -2,657,896, -1,613,118,
this year 7.00 7.84 .01 939.41 197.56
III. Increase/ Decrease in this 25,831,645 -49,696,70 -23,865,06
year (Decrease is listed with’”-”) .36 8.98 3.62
-49,696,70 -49,696,70
(i) Net profit
8.98 8.98
(II) Other consolidated income
-49,696,70 -49,696,70
Subtotal of (i)and (ii)
8.98 8.98
(III) Owners’ devoted and 25,831,645 25,831,645
decreased capital .36 .36
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
25,831,645 25,831,645
3. Others
.36 .36
(IV)Profit distribution
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
42
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(V) 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. Others
(VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the 551,347,94 486,589,21 32,673,227 -2,707,593, -1,636,983,
report period 7.00 3.20 .01 648.39 261.18
Legal Representative: Luo Guiyou Person in Charge of Accounting: Zhang Zebing
Person in Charge of Accounting Department: Sun Longlong
III. Company Profile
(I)Company History
According to the Approval Document SFBF (1991) No. 888 issued by the People’s Government of Shenzhen,
Shenzhen China Bicycle Company (Holdings) Limited (hereinafter referred to as the Company) was
reincorporated as the company limited by shares in November 1991. On 28 December 1991, upon the Approval
Document SRYFZ(1991) No. 119 issued by Shenzhen Special Economic Zone Branch of the People’s Bank of
China, the Company got listed on Shenzhen Stock Exchange. The Company reserves the business license for the
enterprise legal person (QGYSZFZ No.101165) [the registered number has been altered as 440301501122085]
with the registered capital of RMB551, 347,947.00.
(II) Business Scope and Operation
The Company belongs to the machinery manufacture industry and mainly engages in the production and assembly
of various bicycles and spare parts, components, parts, mechanical product, sport machinery, fine chemicals,
carbon fiber composites material, household electrical appliance and affiliated components (products management
by license excluded).
The Company is specialized in making the middle-top rank bicycles, the main brands are EMMELLE and various
electrical bicycles.
The majority of its products were previously exported, however, the sales volume sharply declined in recent years
because of the antidumping litigation. Hence, the Company commences on the debt reorganization
and makes greater efforts to develop and research the new products, and creates a range of electrical
bicycles to occupy the domestic market.
43
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
IV. Main Accounting Policy, Accounting Estimate and Errors
1. Compilation Basis of Financial Statement
The Company proceed on continue operating as a premise, according to the actual occurred transactions and
events, based on Accounting Standard for Enterprise—Basic and “Item 38”-Details of Accounting Standard, and
Application Guide of Accounting Standard for Enterprise issued subsequently, the Accounting Standard for
Enterprise—Explanation and other relevant regulations (together short for “Accounting Standard for Enterprise”)
to prepare financial statements.
2. Announcement for Following the Enterprise Accounting Standards
The financial statement complied by the Company pursuant to the foresaid compilation basis truly and fully
reflects such related information as financial status as of 30 June 2013, operation achievement and cash flows of
the Company and parent company for first half year of 2013.
3. Accounting Period
The company adopts Gregorian calendar, namely each 1 January to 31 December should be one fiscal year.
4. Standard Accounting Currency
The Company adopts Renminbi (RMB) as the standard accounting currency.
5. Accounting Treatment Method for Business Combinations under the Same Control and not under the
Same Control
(1) The business combination under the same control
The Company conducts accounting treatment for the business combination under the same control under equity
method. The assets and liabilities that acquired by the acquirer in a business combination shall be measured on the
basis of their original carrying amount in the acquiree on the acquisition date, except for the necessary adjustment
made for different accounting policies. As for the difference between the carrying value of the combination
consideration (or the total par value of the shares issued) and the carrying value of the net assets acquired through
the business combination is used to adjust the capital reserve. In case that the capital reserve is insufficient to off
set, then retained earnings shall be adjusted.
The intermediate expenses occurred by the Company as combining party for the business combination (including
the expenses for audit, legal services, appraisal consultant and other related administrative expenses), shall be
recorded into the profits and losses at the current period. Bonds issued for business combination or fees or
commissions paid for assuming other liabilities shall be recorded in the initial measurement amount of the bonds
issued and other liabilities. Fees or commissions occurred by issuance of equity securities shall be used to reduce
the premium income of equity securities. In case that the premium income is insufficient to offset, then retained
earnings shall be off set.
(2) The business combination not under the same control
The Company conducts accounting treatment for the business combination not under the same control under
purchase method. The combination cost represents the fair value of the cash or non-cash assets paid, liabilities
44
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
assumed and equity securities issued by the Company for acquiring the control over the acquiree. The
intermediate expenses occurred by the Company as acquirer for the business combination (including the expenses
for audit, legal services, appraisal consultant and other related administrative expenses), shall be recorded into the
profits and losses at the current period. The transaction expense of the equity securities or debt securities issued by
the Company as combination consideration shall be recorded in the initial recognition amount of equity securities
or debt securities.
The combination cost confirmed as at the acquisition date shall be deemed as the initial investment cost of the
long term equity investment acquired from the business combination not under the same control. The Company
realizes and measures the identified assets and liabilities acquired from the combination not under the same
control at their fair value as of the acquisition date. If the combination cost is greater than the fair value of the net
identifiable assets of the acquiree acquired through combination, then the relevant difference shall be confirmed as
goodwill. If the combination cost is less than such fair value, then the relevant difference shall be recorded in
current profits and losses after review.
6. Compilation of Consolidated Financial Statements
(1) Compilation of Consolidated Financial Statements
(1)Confirmation bases for consolidation scope
Based on control, the Company takes the Company and all of its subsidiaries into the consolidation scope of
financial report.
As for the subsidiaries increased through business combination under the same control during the reporting period,
the Company consolidates such subsidiaries from the very beginning for reporting of financial statement to the
end of the reporting period. As for the subsidiaries increased through business combination not under the same
control during the reporting period, the Company consolidates such subsidiaries from the acquisition date to the
end of the reporting period. As for the subsidiaries reduced due to disposal during the reporting period, the
Company stops consolidation of such subsidiaries since the disposal date.
(2)Preparation method of consolidated financial statement
The consolidated financial statements are prepared by the Company based on the individual financial statement of
the Company and subsidiaries by reference to other related information after adjustment to the long term equity
investments of the subsidiaries at equity method. When preparing consolidated financial statements, the Company
makes necessary adjustments to the financial statements of subsidiaries which have different accounting policies
and accounting periods according to the unified requirements of the Company. The internal transactions or issues
and internal liabilities between the subsidiaries within consolidation scope are written off. The shareholders equity
of subsidiaries not attributable to the parents shall be separately listed under the item of shareholder equity as
minority equity in consolidated financial statement. Where the current losses shared by minority shareholders of
subsidiary exceed the owners equity of such subsidiary shared by minority shareholders as at the year begin, the
balance shall be used to off set minority equity.
(2)Disclosure of related accounting method for buy-and-resell or sell-and-repurchase of equities in the same
subsidiary within two successive accounting years
7. Determination standards for cash and cash equivalents
When preparing cash flow statement, the Company determines such investments with the following four
conditions including short terms (matured within 3 months since the acquisition date), high liquidity, easy to
convert to cash with known amount as well as minor value change risks as cash equivalents.
45
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
8. Foreign currency business and foreign currency statement translation
(1)Foreign currency business
The foreign currency business shall be translated to the functional currency amount at the spot exchange rate on
the transaction date.
As at the balance sheet date, items denominated in foreign currency are translated under the spot rate of the
balance sheet date or exchange rate approximate to the spot rate. The translation differences arising from the
difference between the spot rate of the balance sheet date and the spot rate of the initial realization date or the
previous balance sheet date is recorded in finance expense; foreign non-monetary items measured at historical
cost are still translated at the spot rate of the transaction date; foreign non-monetary items measured at fair value
are translated at the spot rate of the date when fair value is determined. The difference between the functional
currency amount after translation and the original functional currency amount is recorded in current profits and
losses as income from change of fair value, while the translation differences related to foreign non-monetary items
available for sale shall be recorded in capital reserve.
(2) Foreign currency statement translation
When translating the foreign currency financial statements of the overseas subsidiaries by the Company, the assets
and liabilities items in the balance sheet are translated at the spot rate of the balance sheet date. As for
shareholders’ equity items, items are translated at the spot rate of the occurrence date other than the item of
“undistributed profit”; in income statement, income and expense items are translated at the spot rate of the
transaction occurrence date or the exchange rate approximate to the spot rate; in cash flow statement, all items are
translated at the spot rate of the cash flow occurrence date or the exchange rate approximate to the spot rate. The
affect amount on cash from change of exchange rate is used as an adjustment item which is separately listed in the
cash flow statement as “affect of cash and cash equivalents from change of exchange rate”.
Since foreign currency financial statement translation would occur differences, such differences are separately
listed in the shareholders’ equity in consolidated balance sheet as “foreign currency statement translation
difference”.
9. Financial instruments
Financial instrument represent such contract pursuant to which financial assets are formed for an enterprise and
financial liabilities or equity instruments are formed for other entities.
(1) Classification of the financial instrument
Financial assets and financial liabilities of the Company are, at initial recognition, classified into the following
five categories: financial assets or financial liabilities at fair value through profit or loss; held-to-maturity
investments, accounts receivable, available-for-sale financial assets and other financial liabilities.
(2) Recognition and measurement of financial instrument
(1) Recognition and de- recognized of financial assets and financial liabilities
The Company realizes financial assets or financial liabilities when it becomes a party to financial instrument
contract.
Financial assets are de- recognized when any of the following conditions is satisfied:
① contract right to receive cash flow from such financial assets terminates;
② such financial asset has been transferred and complies with the de- recognized condition in respect of financial
assets transfer.
46
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(2) Measurement of financial assets and financial liabilities
A financial asset or financial liability is recognized initially at fair value. In the case of financial assets or financial
liabilities at fair value through profit or loss, the relevant transaction costs are directly recognized in the profit or
loss for the current period; transaction costs relating to financial assets or financial liabilities of other categories
are included in their initial recognized amount.
① Financial assets or financial liabilities at fair value through profit or loss for the current period
Financial assets at fair value through profit or loss include held-for-trading financial assets and those designated
upon initial recognition as financial assets at fair value through profit or loss. Held-for-trading financial assets
mainly refer to shares, bonds, funds and non-hedging derivatives held for disposal in the short-term or financial
liabilities assumed for repurchase in the short-term; financial assets or financial liabilities designated as ones at
fair value through the profit or loss for the current period mainly refer to those so designated by the Company for
risk management, strategic investment and other purposes.
Such kind of financial assets or financial liabilities are subsequently measured at fair value. Except when they are
used as effective derivatives, all realized and unrealized gains or losses on these financial assets or financial
liabilities are recognized in the profit or loss for the current period.
②held-to-maturity investment
Held-to-maturity investment represents the non derivative financial assets such as fixed rate national bunds or
floating rate corporate bunds which have fixed expiration date, fixed or determinable recoverable amount and for
which the Company has definite plan and ability to hold until maturity.
During the holding period, the Company measures the held-to-maturity investments at effective interest method
under amortized cost. Gains or losses arising from impairment, amortization or derealization of held-to-maturity
investment shall be recorded in current profits and losses. When disposing held-to-maturity investment, the
difference between the amount received from such disposal and the carrying value of such investment shall be
recorded in investment income.
③account receivables
Account receivables represent the creditor’s right such as account receivables formed from sales of goods and
provision of labor services, including account receivables, other receivables and long term receivables, etc.
Account receivables are initially measured at the contract or agreement amount receivable from the purchaser, and
are measured at the effective interest method under amortized cost during the holding period. When recovered or
disposed, the difference between the amount received and the carrying value of the account receivables shall be
recorded in current profit and loss.
④financial assets available for sale
Financial assets available for sale represent the non-derivative financial assets designated as available for sale at
initial recognition and those financial assets other than the aforesaid three kinds of financial assets. As for this
kind of financial assets, the Company conducts subsequent measurement at fair value, whose depreciation and
premium is amortized at effective interest method and which is realized as interest income. Except for impairment
loss and exchange difference of foreign monetary financial assets which are realized as current profit and loss,
change of fair value of financial assets available for sale shall be realized as a separate part of capital reserve until
such financial assets are de-realized or impaired, and the accumulative gains or losses realized in capital reserve
previously shall be transferred to current profit and loss. Dividends or interest income relate to financial assets
available for sale shall be recorded in current profit and loss
47
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
⑤other financial liabilities
Other financial liabilities represent those which are not grouped at fair value through profit and loss.
The Company measures other liabilities at amortized cost or cost. Gains or losses arising from other financial
liabilities upon amortization and de-recognition shall be recorded in current profit and loss.
(3) Recognition basis and measurement for transfer of financial assets
①The Company would de-realizes such financial assets in case that it transfers nearly all the risks and
remunerations entitled to the ownership of the financial assets to the transferee or it neither transfer nor retain
nearly all the risks and remunerations entitled to the ownership of the financial assets while gives up the control
over such financial assets.
②If the de-recognition conditions are met in respect of whole transfer of financial assets, then the difference
between the followings shall be recorded in current profit and loss:
A. Carrying value of the assets transferred;
B. The sum between the considerations received for transfer and accumulative fair value change which shall be
recorded in owners’ equity directly.
③If the de-recognition conditions are met in respect of transfer of part of financial assets, the whole carrying
value of the assets transferred shall be allocated to the realized part and de-realized part based on the respective
fair values. And the differences between the two amounts shall be recorded in current profit and loss:
A. Carrying value of the de-realized part;
B. The sum between the consideration for the de-realized part and the accumulative fair value change
corresponding to the de-realized part which was previously recorded in owners’ equity directly.
④If transfer of financial assets don’t meet condition for de-realization, the financial assets shall be continually
realized. The consideration received shall be confirmed as financial liabilities.
⑤as for the transfer of financial assets at constant involvement method, the Company realizes financial assets and
meanwhile financial liabilities based on the degree of the involvement.
(4) Recognition condition for termination of financial liability
A financial liability or part of it is derecognized when the existing obligation of the financial liability are fully or
partially derecognized.
(5) Determination of fair value of financial assets and financial liabilities
①fair value of financial assets or financial liabilities which have active market is determined based on the
quotation in the active market;
②as for financial instruments which have no active market, the Company determines its fair value by evaluation
technology.
(6) Impairment test for financial assets (excluding account receivables) and withdrawal method for
provision
The Company reviews the carrying value of financial assets (excluding account receivables) as at balance sheet
date. If there is objective evidence showing impairment occurs, it shall provide impairment reserve.
①held-to-maturity investment
Impairment losses are calculated based on the difference between the carrying value and the present value of
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
predicted future cash flow. For details, please refer to the measurement treatment for impairment losses of account
receivables.
If there is objective evidence showing the value of financial assets has been recovered which is related objectively
to the issues occurred after recognition of such losses (such as enhancement of the credit rating of debtor), the
impairment losses previously realized shall be written back and recorded in current profit and losses. However, the
carrying value after such written-back shall not exceed the amortized cost of the financial assets as at the
written-back date assuming no impairment reserve is provided.
②financial assets available for sale
If there is objective evidence showing fair value of financial assets available for sale decreases greatly, and it is
predicted that the decline trend is not temporary, the financial assets is deemed to be impaired and impairment loss
shall be realized. If financial assets available for sale experience impairment, the Company shall take out the
accumulative losses arising from decrease of fair value which was directly recorded in owners’ equity previously
to record in impairment losses when realizing impairment losses. The accumulative losses taken out equal to the
initial acquisition cost of the financial assets available for sale less the principal recovered and amortized amount,
prevailing fair value and impairment losses previously recorded in profit and loss.
As for the debt instruments for which impairment losses have been realized, if its fair value increases in
subsequent accounting periods which is objectively related to the issues occurred after the realization of previous
impairment losses, the previously realized impairment losses shall be written back and recorded in current profits
and losses. The impairment losses occurred by investment of equity instruments available for sale shall be written
back through equity while not through profit and losses if the value of such equity instrument increases.
(7)As for reclassification of un-matured held-to-maturity investments into financial assets available for sale,
please explain the holding purposes or references for change of ability
10. Recognition standards and accrual method for bad debt provision for accounts receivable
(1) Bad debt provision for accounts receivable with single major amount
Standards for the determination on account receivable with
single significant amount based on business scale, business
Determine basis or amount standards for Single Significant Amount nature and settlement status of the clients:
The account receivable over RMB 5 million(including RMB
5 million) at period-end
An impairment test shall be made on the financial assets with
significant single amounts. The impairment-related losses
Withdrawal method on single significant amount and with bad debt
shall be recognized to prepare the provisions for bad debts
provision accrued for single item
according to the balance between the future present value and
the book value.
(2) Bad debt provision for account receivable withdrawal by combination:
Combination Withdrawal method Recognition basis
Age group—account receivable
with same book age owns similar Aging of accounts Characteristic in credit risk
characteristic in credit risk
Adopt age analysis method for bad debt provision withdrawal in combination:
√Applicable □Not applicable
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Accrued ratio for account receivable
Age Accrued ratio for other account receivable (%)
(%)
Within I year (1 year included) 0.3% 0.3%
1-2 years 0.3% 0.3%
2-3 years 0.3% 0.3%
Over 3 years 100% 100%
In combination, withdrawal proportion of bad debt provision based on balance proportion:
□ Applicable √ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods:
□ Applicable √ Not applicable
(3) Account receivable with minor single amount but with withdrawal bad debt provision for single item:
Reasons of withdrawal bad debt provision for
Clearly evidence shows that the account hard to recover
single item
Recognized impairment loss and accrued the bad debt provision according to the
Withdrawal method for bad debt provision
balance between future cash flow on account receivable and its book value
11. Inventory
(1) Classification of inventory
The inventory of the Company refers to such seven classifications as the raw materials, product in process, goods
on hand, wrappage, low value consumables, materials for consigned processing and goods sold.
(2)Valuing of the delivered inventory
Valuing method: Weighted average method
The Company adopts the historical cost for obtaining or the planned cost to value the inventory according to its
actual situation, and weighted average method for the issued inventory.
(3) Confirmation of net realizable value for the inventory and provision for inventory impairment
The net realizable value for the inventory refers to, in the course of general operation, the estimated amount with
deducting the estimated cost, estimated sales expense and related taxes from the estimated sales price.
Provision for inventory impairment: Based on making an overall check of the inventory at the middle and end of
the year, the Company measures the whole or partial out-of-dated inventory or the inventory with extremely lower
price according to the cost or the net realizable value, whichever is lower; and withdraws the impairment
provisions for the single inventory according to the balance between the net realizable value and the cost and
recorded into the profits and losses of current period. In addition to the holding purpose and the price and cost
fluctuation as of the balance sheet date, the Company shall take into the future event account when confirming the
net realizable value.
(4)Inventory System
Inventory system: perpetual inventory system
In addition to the periodic inventory system for the products, the Company adopts the perpetual inventory system
for other inventories.
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(5) Amortization method for the low-value consumables and wrappage
Low-value consumables
Amortization method: one-off amortization method
The Company adopts one-off amortization method to amortize the low-value consumables.
wrappage
Amortization method: one-off amortization method
The Company adopts one-off amortization method to amortize the wrappage at the time of receipt.
12. Long-term equity investment
(1)Determination of investment cost
①Long-term equity investments acquired from business combination involving entities under common control.
For long-term equity investments acquired from business combination involving entities under common control,
the share of the book value of the shareholders’ equity of the merged enterprise as at the date of combination after
adjustments in accordance with the Company’s accounting policies shall be taken as the initial investment cost.
②Long-term equity investments acquired from business combination involving entities not under common
control. For long-term equity investments acquired from business combination involving entities not under
common control, the cost of combination as at the date of acquisition shall be taken as the initial investment cost.
For the gradual combination realized by separate procedures, the sum of book value shareholders’ equity in the
acquiree prior to the date of acquisition and the additional acquisition cost as at the date of acquisition shall be
taken as the initial investment cost. ③Long-term equity investment acquired by other methods. The initial
investment cost of a long-term equity investment obtained by making payment in cash shall be accounted for its
actual cash paid. The initial investment cost of a long-term equity investment obtained on the basis of issuing
equity securities shall be the fair value of the equity securities issued (excluding declared but not yet paid cash
dividends or profits received from the investee). The initial investment cost of a long-term equity investment of an
investor shall be the value stipulated in the investment contract or agreement except the unfair value stipulated in
the contract or agreement. Under the conditions that the exchange of non-monetary assets is characterized with
business essence, and the fair value of the assets received or surrendered can be accounted in a reliable way, the
book value of assets received is defined on basis of the fair value of assets surrendered, except there are
conclusive evidences for the stronger reliability of the fair value of assets received. For the exchange of
non-monetary assets not meeting the above premises, the book value of assets surrendered and related taxes shall
be accounted as cost of assets received and the profits and losses shall not be concluded. The initial investment
cost of long-term equity investment obtained by recombination of liabilities shall be accounted at fair value.
(2)Subsequent reckoning as well as profits and loss determination method
Investments on the subsidiary company of an investing enterprise, investees not under common control or
significant influence, and long-term equity investments not quoted in an active market and where its fair value
cannot be measured reliably shall be accounted by the cost method. Long-term equity investments under common
control or significant influence shall be accounted by the equity method. Upon accounting of long-term equity
investments using the equity method: ① If the initial cost of a long-term equity investment is more than the
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investing enterprise’s attributable share of the fair value of the investee’s identifiable net assets for the investment,
the initial cost of the long-term equity investment may not be adjusted; if the initial cost of a long-term equity
investment is lower than the investing enterprise’ attributable share of the fair value of the investee’s identifiable
net assets for the investment, the difference shall be included in the profit or loss for the current period and the
cost of the long-term equity investment shall be adjusted at the same time. ②The Group recognizes its share of
the net profit or loss made by the investee as investment income or losses, and adjusts the carrying amount of the
investment accordingly. The Group recognizes its share of the investee’s net profit or loss after making
appropriate adjustments to the investee’s net profit or loss based on the fair value of the investee’s identifiable
assets at the acquisition date, using the Group’s accounting policies and periods, and eliminating the portion of the
profit or loss arising from internal transactions with its joint ventures and associates attributable to the investor
according to its share ratio (but impairment losses for assets arising from internal transactions shall be recognized
in full). ③The Group’s share of net losses of the investee is recognized to the extent that the carrying amount of
the long-term equity investment, together with any long-term interests that in substance form part of its net
investment in the investee is reduced to zero, except that the Group has incurred obligations to assume additional
losses. Subsequent net profits realized by the investee are re-recognized as share of profits after setting off
un-recognized losses in its share of profits. ④Entitlements to profits or cash dividends declared by the investee
are calculated to write down the carrying value of the long-term investments. ⑤Where any change is made to the
shareholders’ equity other than the net profits and losses of the investee, the book value of the long-term equity
investment shall be adjusted and be included in the shareholders’ equity, and the capital reserves shall be
accordingly adjusted, in accordance with the attributable share of the net profits or losses of the investee. When
the ownership interest in investee decrease, but the investee an associate or joint venture of the Company, the
Company continues to account for the remained investment using equity method, and transfers the profit or losses
which were recognized in other comprehensive income (capital reserves) before into current profit or losses.
When the ownership interest in investee increase while the investee remains an associate or joint venture of the
Company, the equity method will be continued be adopted by using new shareholding proportion. On the new
investment date, the difference between the new investment cost and fair value of the net identifiable assets of the
investee based on the new shareholding proportion shall be accounted for according to the previous principles; the
difference between the original carrying value of the long term equity investment upon acquisition of the new
investment and the share of the fair value of the net identifiable assets of the investee as calculated based on the
shareholding proportion as determined with the shareholding proportion upon capital increase less the new
increased shareholding proportion shall be used to adjust the carrying value of the long term equity investment
and capital reserve.
(3)The basis for the co-control over and material influence on the invested unit
①Judgment for common control: Common control means any joint venture party can not control the production
and operation of the joint venture separately, and decision involving the basic operation activity of the joint
venture requires unanimous consent from all the joint venture parties. ②Judgment for significant influence:
Significant influences represent an entity is entitled to the decision making in respect of the financial and
operational policies of an enterprise, while it is not entitled to control the establishment of these policies
separately or with other parties. In case that the Company holds, directly or indirectly by subsidiary, more than
20% (20% included) while less than 50% voting shares of an investee, it is deemed to have significant influences
over the investee unless there is obvious evidence showing that the Company can’t participate in the production
and operation decision making thus no significant influence can be formed in such situation. In case that the
Company holds less than 20% (20% excluded)voting shares of investee, it is deemed to have no significant
influences over the investee, unless there is obvious evidence showing the Company can participate in the
production and operation decision making of the investee thus significant influence can be formed in such
situation.
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(4) Methods for impairment test and provision of impairment reserve
As to the long-term equity investments on subsidiaries, associates and joint control entities, the Company provides
for impairment reserve according to the following methods: (1) Indication of impairment are assessed on balance
sheet date. If there is an indication, the recoverable amount shall be estimated and the impairment test shall be
taken. (2) Recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the
future cash flows expected to be derived from the asset. The Company estimates recoverable value for individual
assets. When it is difficult to estimate individually, the recoverable value of the cash generating units which the
asset belongs to will be estimated. (3) The definition of cash generating units is determined on the basis of
whether the cash generating units generate cash flows which are largely independent of those from other cash
generating units. Where the carrying amount of an asset or a cash generating unit exceeds its recoverable amount,
the asset or cash generating unit is considered impaired and is written down to its recoverable amount. The
difference between the carrying amount and recoverable amount is recognized in the current period’s profit or loss
and provision for impairment is made accordingly. (4) Impairment loss once recognized, shall not be reversed in
the following accounting period. As for the long term equity investment in such investee that the Company has no
common control or significant influences, no quotation in an active market and the fair value can not be measured
reliably measured, the Company provides assets impairment reserves based on the following methods: carrying
value of the long term equity investment is reviewed on balance sheet date. For any objective evidence indicating
impairment, the Company shall make impairment provision. (1)Held-to-maturity investment. Impairment loss is
recognized according to the differences between carrying amount and present value of estimated future cash flow.
For details, please refer to the measurement for impairment losses of account receivables. If there are objective
evidences show the value of this financial asset is recovered and it related to the matters happened after the
impairment loss recognition, the impairment loss recognized shall be reversed and accounted in current profit or
loss. However the reversal shall not result in a carrying amount of the financial asset that exceeds what the
amortized cost would have been and had the impairment not been recognized at the date when the impairment is
reversed. (2)Available-for-sale financial asset. If there are objective evidences shows the fair value of
available-for-sale financial asset has a significant decline and this decline is not temporary, impairment loss shall
be recognized. If an available-for-sale financial asset is impaired, the cumulative loss arising from decline in fair
value that had been recognized directly in capital reserves is removed from capital reserves and recognized in
profit or loss. The cumulative loss that is removed from capital reserves is the difference between its acquisition
cost (net of any principal repayment and amortization) and its current fair value, less any impairment loss
previously recognized in profit or loss. If there are objective evidences show the value of available-for-sale debt
instrument is recovered and it related to the matters happened after the impairment loss recognition, the
impairment loss recognized shall be reversed and accounted in current profit or loss. Impairment losses
recognized for equity instruments classified as available-for-sale are reversed through equities instead of profit or
loss when the value of the equity instruments recovers.
13. Investment real estate
Investment properties of the company are those held for rental income or capital appreciation, or both, including
land use rights already leased out, land use rights held for sale after capital appreciation and buildings already
leased out.
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Investment properties are initially recognized at acquisition cost, and depreciated or amortized according to the
accounting policies applicable to fixed assets and intangible assets.
The company adopts the cost model for subsequent measurement of investment properties. Methods for provision
of assets impairment are listed as follows:
(1) Indication of impairment are assessed on balance sheet date. If there is an indication, the recoverable amount
shall be estimated and the impairment test shall be taken.
(2) Recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the future
cash flows expected to be derived from the asset. The Company estimates recoverable value for individual assets.
When it is difficult to estimate individually, the recoverable value of the cash generating units which the asset
belongs to will be estimated.
(3) The definition of cash generating units is determined on the basis of whether the cash generating units generate
cash flows which are largely independent of those from other cash generating units. Where the carrying amount of
an asset or a cash generating unit exceeds its recoverable amount, the asset or cash generating unit is considered
impaired and is written down to its recoverable amount. The difference between the carrying amount and
recoverable amount is recognized in the current period’s profit or loss and provision for impairment is made
accordingly.
(4)Impairment loss once recognized, shall not be reversed in the following accounting period.
14. Fixed assets
(1) Fixed assets confirmation conditions
Fixed assets refer to the tangible assets for production of products, provision of labor, lease or operation, and with
a service life in excess of 1 financial year. Fixed assets shall be confirmed when meet the following conditions:
①Fixed assets’ related financial benefits shall flow into the Company; ②Their value can be measured.
(2) Recognition and measurement of fixed assets acquired under finance leases
The leased asset is recognized at the lower of the fair value of the leased asset and the present value of the
minimum lease payments. When a leased asset can be reasonably determined that its ownership will be transferred
at the end of the lease term, it is depreciated over the period of expected use; otherwise, the lease asset is
depreciated over the shorter period of the lease term and the period of expected use.
(3) Depreciation methods for various fixed assets
Depreciation of fixed assets is provided under straight-line method. Fixed assets start to provide depreciation when
it reaches the condition for planned use, and stop provision of depreciation upon de-realization or classification to
non-current assets held for sale (other than the fixed assets which are provided with depreciation in full and for
continued use and the land accounted in separate calculation). Without consideration of impairment reserve, the
Company determines the annual depreciation rates of various fixed assets as follows based on the category of fixed
assets, predicted use life and predicted residual value:
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Categories Years of depreciation(years) Scrap value rate (%) Yearly depreciation rate (%)
Housing buildings 20 10% 4.5
Machines equipment 10 10% 9
Electronic equipment 5 10% 18
Transportation equipment 5 10% 18
Office equipment 5 10% 18
Other equipment 5 10% 18
(4) Methods for impairment test and provision of impairment reserve in respect of fixed assets
The Company adopts the following methods to make provision of fixed assets impairment reserve:
(1) Indication of impairment is assessed on balance sheet date. If there is an indication, the recoverable amount
shall be estimated and the impairment test shall be taken.
(2) Recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the future
cash flows expected to be derived from the asset. The Company estimates recoverable value for individual assets.
When it is difficult to estimate individually, the recoverable value of the cash generating units which the asset
belongs to will be estimated.
(3) The definition of cash generating units is determined on the basis of whether the cash generating units generate
cash flows which are largely independent of those from other cash generating units. Where the carrying amount of
an asset or a cash generating unit exceeds its recoverable amount, the asset or cash generating unit is considered
impaired and is written down to its recoverable amount. The difference between the carrying amount and
recoverable amount is recognized in the current period’s profit or loss and provision for impairment is made
accordingly.
(4) Impairment loss once recognized shall not be reversed in the following accounting period.
(5) Other notes
①at the end of each year, the Company reviews the use life, predicted net residual value and depreciation method
of fixed assets. In case of any difference between the predicted use life and the previously estimated one, the
Company would adjust the use life of fixed assets; In case of any difference between the predicted net residual
value and the previously estimated one, the Company would adjust the predicted net residual value.
②as for the repair expenses occurred by fixed assets, if confirmation conditions for fixed assets are satisfied, the
expenses shall be recorded in fixed asset cost; and if the conditions are not satisfied, it shall be recorded in cost
and expense of the current period when it occurs.
③fixed assets decoration expenses satisfying capitalization condition: provide depreciation under straight line
method during the period of the lesser of the gap period between two decorations and use life of fixed assets.
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15. Construction in process
(1) Classification of construction in process
Construction in progress includes construction preparation, building works, installation works, technological
transformation works and general overhaul works under construction.
(2) Transfer of construction in progress to fixed assets
Construction-in-progress is transferred into fixed assets when it is ready for its intended use based on actual cost.
When a construction-in-progress is ready for its intended use but the actual cost is not yet determined, the
estimated cost incurred up to the date when the construction-in-progress is ready for its intended use should be
transferred into fixed asset and depreciated according to the company’s accounting policy. The cost of the fixed
asset will be adjusted when the actual cost of the fixed asset is determined; however, no adjustments will be made
with regard to the amount depreciated since the construction-in-progress is transferred into fixed asset.
(3) Methods for impairment test and provision of impairment reserve in respect of construction in progress
The Company adopts the following methods to make impairment provision of construction in progress:
(1) Indication of impairment are assessed on balance sheet date. If there is an indication, the recoverable amount
shall be estimated and the impairment test shall be taken.
(2) Recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the future
cash flows expected to be derived from the asset. The Company estimates recoverable value for individual assets.
When it is difficult to estimate individually, the recoverable value of the cash generating units which the asset
belongs to will be estimated.
(3) The definition of cash generating units is determined on the basis of whether the cash generating units generate
cash flows which are largely independent of those from other cash generating units. Where the carrying amount of
an asset or a cash generating unit exceeds its recoverable amount, the asset or cash generating unit is considered
impaired and is written down to its recoverable amount. The difference between the carrying amount and
recoverable amount is recognized in the current period’s profit or loss and provision for impairment is made
accordingly.
(4) Impairment loss once recognized, shall not be reversed in the following accounting period.
16. Borrowing Costs
(1) Confirmation of capitalization of borrowing expenses
(1) Confirmation of capitalization of borrowing expenses
Assets qualifying for capitalization represent those fixed assets, investment property and inventory which require
quite a long time of purchase or production activities to reach the conditions for planned use or be ready for sale.
Borrowing expenses include borrowing interests, amortization of discount or premium, auxiliary expenses and
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exchange difference arising from foreign currency borrowings.
The borrowing expenses of the Company which can be directly attributable to the purchase or production of the
assets qualifying for capitalization shall be capitalized and recorded in related assets cost; other borrowing
expenses are confirmed as expenses upon occurrence according to the occurrence amount and recorded in current
profit and loss.
Borrowing expenses start to capitalize when the following conditions are met:
①assets expenditures, which include the expenditures occurred for purchasing or producing assets qualifying for
capitalization through payment of cash, transfer of non cash assets or assuming interest debts, have occurred;
②borrowing expenses have occurred;
③purchase or production activity for reach of the conditions for planned use or ready for sale has occurred.
(2) Capitalization period of borrowing expense
Borrowing expenses occurred for purchasing or producing assets qualifying for capitalization shall be recorded in
cost of the assets when the assets reach conditions for planned use or be ready for sale; and the borrowing
expenses occurred after the assets reach conditions for planned use or be ready for sale shall be recorded in
current profit and loss.
(3) Period of capitalization suspend
If abnormal interruption occurs during the purchasing or producing assets qualifying for capitalization and the
interruption lasts over 3 months consecutively, the borrowing expenses shall stop capitalization temporarily. If
part items are completed and available for use separately when purchasing or producing assets qualifying for
capitalization, such part of assets shall stop capitalization in respect of their borrowing expenses.
(4) Determination method of the capitalized amount of borrowing expenses
The Company calculates the capitalized amount of borrowing expenses per quarter.
Interest expenses (after deduction of the interest income obtained from the unused borrowing capitals as saved in
bank or investment income obtained from temporary investment) and auxiliary expenses of special borrowings are
capitalized when the assets qualifying for conditions purchased or produced reach conditions for planned use or be
ready for sale.
The interest of general borrowings which should be capitalized is calculated based on the weighted average
number of the capital expenditure that the accumulative assets expenditure exceeding special borrowings multiply
the capitalization rate taken in general borrowings. Capitalization rate is calculated based on the weighted average
interest rate of general borrowings.
For discount or premium of borrowings, the Company determines the discount or premium amount that shall be
amortized in each accounting period under effective interest method and adjusts the interest amount for each
period.
During the capitalization period, the exchange difference of principals and interests of foreign currency special
borrowing shall be capitalized and recorded in the cost of the assets qualifying for capitalization.
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17. Biological assets
18. Oil and gas assets
19. Intangible assets
(1) Measurement of intangible assets
(1)Initial measurement of intangible assets
The intangible assets of the Company are initially measured at effective cost. In case that the payment for
purchasing intangible assets defers out of the normal credit conditions and is of financing substantially, cost of the
intangible assets is the present value of the purchase payment.
As for the intangible assets acquired from debtor in debt reorganization to settle debt, the accounting value is
determined based on the fair value of such intangible assets. With the preceding conditions that non-monetary
assets exchange has business nature and the fair value of assets exchanged in or out can be measured reliably, the
accounting value of the intangible assets exchanged in through non-monetary assets exchange is determined based
on the fair value of the assets exchanged out, unless there is definite evidence showing the fair value of the assets
exchanged in is more reliable. Non-monetary assets exchange not satisfying such preceding conditions, the
carrying value of assets exchanged out and relevant tax payables are deemed as cost of the intangible assets
exchanged in without confirmation of profit and loss.
(2) Estimate on useful life of intangible assets with finite useful life
The Company makes judgment on the useful life of intangible assets upon acquisition of the same. If the useful
life is finite, the Company will estimate the term of the useful life or number of the similar measurable units such
as yields which constitute the useful life. Intangible asset with finite useful life shall be amortized under straight
line method over the expected useful life since the month when it is acquired.
Item Expected useful life References for expected useful life
(3) Determination of intangible assets with indefinite useful life
Intangible assets which bring unpredicted economic benefits term to the Company shall be regarded as those with
indefinite useful life.
Intangible assets with indefinite useful life shall not be amortized, and impairment test shall be made at the
period-end.
(4)Provision of impairment reserve for intangible assets
The Company adopts the following methods to make provision of impairment reserve for intangible assets:
(1) Indication of impairment are assessed on balance sheet date. If there is an indication, the recoverable amount
shall be estimated and the impairment test shall be taken.
(2) Recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the future
cash flows expected to be derived from the asset. The Company estimates recoverable value for individual assets.
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When it is difficult to estimate individually, the recoverable value of the cash generating units which the asset
belongs to will be estimated.
(3) The definition of cash generating units is determined on the basis of whether the cash generating units generate
cash flows which are largely independent of those from other cash generating units. Where the carrying amount of
an asset or a cash generating unit exceeds its recoverable amount, the asset or cash generating unit is considered
impaired and is written down to its recoverable amount. The difference between the carrying amount and
recoverable amount is recognized in the current period’s profit or loss and provision for impairment is made
accordingly.
(4) Impairment loss once recognized, shall not be reversed in the following accounting period.
(5) Determination of specific standards of research phase and development phase in respect of the internal
research & development projects of the Company
(6)Calculation of expenditure on internal research & development projects
20. Long-term Deferred Expenses
Long term unamortized expenses represent the occurred expenses which should be shared by the current period
and future periods with term than one year. The long term unamortized expenses are averagely amortized during
the benefit period, among which:
(1) Rental prepaid for operation lease for fixed assets shall be averagely amortized within the term as provided in
the lease contract.
(2) Improvement expenditure of the fixed assets leased through operation lease shall be averagely amortized
within the lesser of the remaining lease term and the useful life of the leased assets.
(3) As for fixed assets leased through financing lease, the decoration expenses qualifying for capitalization shall
be averagely amortized within the lesser of the gap period between two decorations, the remaining lease term and
the useful life of the fixed assets.
As for the long term unamortized expenses items which would not benefit the future accounting periods, the
amortized value shall be recorded in current profit and loss in full.
21. Assets transfer with buy-back condition attaché
22. Accrued liability
(1) Recognition standards of accrued liability
The performance of the present obligations arising from pending lawsuits, product quality guarantee, loss contract
and disposal obligations of oil and gas assets may lead to outflow of economic benefits. If the obligations can be
measured reliably, it shall be confirmed as predicted liabilities.
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(2) Measurement of accrued liability
(1) The accrued liabilities are measured initially based on the best estimate for the expenditures required for
performance of relevant present obligations with considerations of factors such as risks related to contingent
issues, uncertainty and monetary time value. If the influence of monetary time value is significant, the best
estimate is determined with discount of the relevant future cash outflow.
(2) Oil and gas assets disposal obligations satisfying confirmation condition for accrued liabilities are confirmed
as accrued liabilities and record the original value of the relevant oil and gas assets. The amount equals to the
present value of the predicted future expenditure occurred according to the local conditions and relevant
requirements.
(3) As for those not satisfying confirmation condition for accrued liabilities, the expenditures occurred for
dismantle, relocation and premise clearance upon disposal shall be recorded in current profit and loss as clearance
expenses when actually occur.
23. Share-based payment and equity instrument
(1) Category of share-based payment
(2) Recognition method for fair-value of equity instrument
(3) Basis of best estimation for vesting equity instrument
(4) Relevant accounting treatment for implementation, amendment and termination of shares payment
plan
24. Shares of the Company repurchased
25. Revenue
(1) Criteria of time for good sales recognized
Revenue from goods sales are realized when the following conditions are met: the major risks and remuneration
entitled to the ownership of goods are transferred to buyer; neither retain the continued management right
generally related to ownership, nor exercise effective control over the sold products; the relevant economic
benefits are probable to flow into the Company; the relevant income and costs can be measured reliably.
(2) Basis of the revenue from abalienating of right to use assets
In case that the economic benefits related to transactions are probable to flow into the Company and amount of
revenue can be measured reliably, the revenue from transfer of asset use right is determined as follows:
①interest revenue shall be determined based on the time used by others for use of the monetary capital of the
Company and effective interest rate.
②use fee revenue shall be determined based on the charge time and method as agreed by the relevant contract or
60
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
agreement.
(3) Labor service providing
If the result of labor service transaction provided on balance sheet date can be measured reliably, the result shall
be confirmed under completion percentage method. The total income from provision of labor services is
determined based on the contract or agreement amount received or receivable from the acceptor of labor services,
provided that such contract or agreement amount received or receivable shall be fair.
If the result of labor service transaction provided on balance sheet date can not be measured reliably, then it shall
proceed as follows:
①if the occurred labor service cost can be compensated, the Company would confirm labor service provision
income based on the occurred labor service cost and carry forward the same to labor service cost.
②if the occurred labor service cost can not be compensated, the Company would record the occurred labor
service cost in current profit and loss without confirmation of labor service provision income.
(4) Recognition basis and method of construction progress completion while recognize revenue from labor
service providing and from construction contract by percentage of completion method
26. Government grants
(1) Type
Government grants comprise of those related to assets and those related to income.
(2) Accounting treatment
(1) Confirmation and measurement of government grants
Government grants are realized where the conditions enclosed with the government grants are satisfied and the
same can be received.
If government grants are monetary assets, they shall be measured based on the amount received or receivable; If
government grants are not monetary assets, they shall be measured at fair value; if fair value can not determined
reliably, they shall be measured at nominal amount.
(2) Accounting treatment for government grants
Government grants related to assets are realized as deferred income and allocated averagely in the use life of the
relevant assets which shall be recorded in current profit and loss.
Government grants measured at nominal amount are recorded in current profit and loss directly.
Government grants related to income which are used to make up for the relevant expenses and losses in future
periods are realized as deferred income and recorded in current profit and loss in the period when related expenses
are realized; those which are used to make up for the relevant occurred expenses or losses shall be recorded in
current profit and loss directly.
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
27. Deferred income tax assets / deferred income tax liabilities
(1) Recognition of deferred income tax assets
According to the temporary differences between the carrying value of assets and liabilities as at the balance sheet
date and tax bases, the Company realizes deferred income tax under balance sheet debt method. Except for the
goodwill adjustment arising from business combination or deferred income tax related to the transactions or issues
which should be recorded in owners’ equity directly are recorded in owners’ equity, deferred income tax shall be
recorded in current profit and loss as income tax expense. As for the deductible losses and tax deduction which
can be used to deduct temporary difference and carried forward in future years, the Company takes the future
taxable income which can be obtained and used to deduct deductible temporary difference, deductible losses and
tax deduction as the limit to realize the arising deferred income tax assets, unless such deductible temporary
difference occurs in the following transactions: (1)the transaction is not business combination, and the occurrence
of which neither affect accounting profit nor taxable income; (2)as for deductible temporary difference related to
investments in subsidiaries, joint venture and associates, the Company realizes the underlying deferred income tax
assets when the following conditions are satisfied: temporary difference is probable to transfer back in foreseeable
future, and it is probable to obtain such taxable income to offset deductible temporary differences.
(2) Recognition of deferred income tax liability
The taxable temporary difference shall confirm the relevant deferred income tax liabilities, unless such difference
occurs in the following transactions: (1)initial confirmation of goodwill, or initial confirmation of the assets or
liabilities occurred in the transactions with the following characteristics: the transaction is not business
combination, and the occurrence of which neither affect accounting profit nor taxable income; (2)initial
confirmation of the assets or liabilities occurred in the transactions with the following characteristics: the
transaction is not business combination, and the occurrence of which neither affect accounting profit nor taxable
income; (3)as for the taxable temporary differences related to investments in subsidiaries, joint venture and
associates, the time for transferring back the temporary difference is under control and it is probable that the
temporary difference will not transfer back in foreseeable future.
28. Operation lease and financing lease
(1) Accounting treatment of operation lease
The Company groups the lease by which all the risks and remunerations related to ownership of assets are
transferred substantially as financing lease, and others are operation lease.
(1) Operation lease
①the lease payment paid for leasing assets is amortized under straight line method in the entire lease period
without deduction of lease-for-free period, and is recorded in current expenses. The initial direct expenses paid by
the Company related to lease transactions shall be recorded in current expenses.
If asset leaser assumes the lease related expenses which shall be assumed by the Company, the Company shall
deduct such expenses from the total rental and amortize based on the deducted rental expenses during the lease
period and record in current expenses.
②the lease fee collected by the Company for assets lease is amortized under straight line method in the entire
lease period without deduction of lease-for-free period, and is realize as lease income. The initial direct expenses
paid by the Company related to lease transactions shall be recorded in current expenses; for significant amount, it
shall be capitalized and recorded in current income in phases under the same basis as realization of lease income
in the entire lease period.
62
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
If the Company assumes the lease related expenses which shall be assumed by the lessee, the Company shall
deduct such expenses from the total rental income and allocate based on the deducted rental expenses during the
lease period.
(2) Accounting treatment of financing lease
①assets leased by financing lease: the Company accounts the leased assets at the lower of the fair value of leased
assets and present value of the minimum lease payment on the inception date of the lease, and the minimum lease
payment is deemed as the accounting value of long term account payables, and the difference is taken as
unrealized financing expenses.
The Company amortizes the unrealized financing expenses at effective interest rate method in the asset lease
period and records in finance expenses.
②assets leased out by financing lease: on the inception date of the lease, the Company realizes the difference
between the sum of financing lease account receivables and unguaranteed remaining value and its present value as
unrealized financing income which is conformed as lease income in future periods involving lease. The initial
direct expenses occurred by the Company related to lease transaction shall be recorded in the initial measurement
of financing lease account receivables. And income realized in lease period shall be reduced accordingly.
(3) Accounting treatment of sale and lease-back
29. Assets held for sales
(1) Recognition criteria of assets held for sales
Non current assets satisfying the following conditions are grouped as assets held for sale: I. the Company has
made resolution in respect of the disposal of the non current assets; II. The Company has entered into
irrecoverable transfer agreement with transfee; III. The transfer would be completed within one year.
(2) Accounting treatment of assets held for sales
As for fixed assets held for sale, the Company shall adjust the predicted net residual value of the fixed assets to
make the predicted net residual value of fixed assets reflect the fair value less disposal expenses, while not
exceeding the original carrying value of the fixed assets when condition of held-for-sale is satisfied. The
difference between the original carrying value and the adjusted predicted net residual value shall be recorded in
current profit and loss as asset impairment.
Other non current assets such as intangible assets satisfying condition of held-for-sale are treated by reference to
the above principles.
63
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
30. Assets securitization
31. Hedge accounting
32. Changes of main accounting policy and estimate
Whether main accounting policy and estimate of the Company changed in the Period or not
□Yes √No
32. Changes of accounting policies
Whether there have changes of major accounting policies in the Period or not
□ Yes √ No
There are no changes of major accounting policies in the Period or not
(2) Changes in accounting estimates
Whether have changes in accounting estimates in report period
□ Yes √ No
There are no changes of accounting estimates in the Period or not
33. Error correction of previous accounting
Whether has error correction of previous accounting occurred in this period
□ Yes √ No
No error correction of previous been found
(1) Retrospective Restatement
Is there has errors of previous accounting adopt retrospective restatement in this period
□ Yes √ No
(2) Prospective Application
Is there has errors of previous accounting adopt retrospective restatement in this period
□ Yes √ No
34. Other major accounting policy, accounting estimation and preparation method for financial statement
The Company has no other major accounting policy, estimate and preparation method for financial statement in
the Period
64
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
V. Taxes
1. Main tax category and tax rate:
Tax category Tax calculation evidence Tax rate
Sales income, and income from
processing, maintenance, making repairs
VAT 17%
and supplying replacements, and labor
service
Business tax Taxable labor income 5%
Amount of value-added tax and sales tax
Urban maintenance and construction tax 1%、7%
payable
Enterprise income tax Taxable income 25%
Amount of value-added tax and sales tax
Educational surtax 3%
payable
Amount of value-added tax and sales tax
Local educational surtax 2%
payable
Property tax 70% of the original value of the property 1.2%
Income tax rate for vary branches and plants
2. Tax preference and approvals
3. Other explanation
VI. Business Combination and Consolidated Financial Statements
1. Subsidiaries
(1) Subsidiaries acquired by means of establishment or investment
In RMB
The sum The
Other
of balance
balance
Actual money after the
of items
investm Proporti in parent
constitut Proporti
Nature ent on of minority compan
Registra Register Busines e net on of Consoli
Full Minorit
Type tion of amount voting dation
name capita s scope investm shares y equity equity y’s
place or not
business at right which is owner’s
ent in held (%)
period-e (%) used to equity
subsidia
nd write writing
ry
down down
actually
the the
65
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
minority excess
interest of the
current
loss
underta
ken by
minority
sharehol
ders of
eth
subsidia
ry over
the
share
enjoyed
by
minority
sharehol
ders in
the
original
owners’
equity
of the
subsidia
ry
Shenzhe Yes
n Anjule
Wholly- Self-ow
Property
owned ned
Shenzhe RMB 2
Manage property 100% 100%
subsidia n million
manage
ment
ry ment
Co.,
Ltd.
China Yes
Bicycle Wholly-
Trade
(Internat owned HK$
Hong and
0.02 100% 100%
ional) subsidia Kong million
manufac
turing
Co., ry
Ltd.
China Bicycle Yes
Controll
Bicycle ing Hong HK$ 5 and
parts 99% 99%
(Hong subsidia Kong million distribut
ry
Kong) ion
66
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Co.,
Ltd.
Shenzhe Yes
n
Bicycle
Emmell Controll
Shenzhe and
ing RMB 2
e parts 70% 70%
subsidia n million
distribut
Industry ry
ion
Co.,
Ltd.
Other explanation on subsidiary obtained by establishment or investment:
(2) Subsidiaries acquired by business combination under the common control
In RMB
The
balance
after the
parent
compan
y’s
owner’s
equity
writing
down
the
excess
of the
Balance current
Amount
of other loss
Stateme in
items underta
Investm minority
material Minori interest ken by
ent Voting
Registra Register Busines ly Holding nts minority
Name Type tion
Busines
ed
amount
forming proporti
right ty used for
sharehol
s nature actual at proporti interest writing
place capital s scope net on (%) ders of
period-e on (%) combine down
investm the
nd minority
ent to subsidia
d or not gain and
subsidia ry over
loss
ry the
share
enjoyed
by
minority
sharehol
ders in
the
original
owner’s
equity
of the
subsidia
ry
Other explanation on subsidiary obtained by establishment or investment:
(2) Subsidiaries acquired by business combination under the common control
In RMB
67
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Balance
between
the
owners’
equity
in
parent
offsettin
g the
current
losses
Balance Amount
attributa
of other in
ble to
Actual items minority
minority
investm which Consoli interest
sharehol
Name of Type of Register ent actually Holding Voting dated Minorit availabl
Register Busines Busines ders of
subsidia subsidia ed amount constitut proporti proportio stateme y e to
ed place s nature s scope subsidia
ry ry capital at es net on% n% nt interests offset
ries over
period-e investm Yes/No minority
the
nd ent in gains
share of
subsidia and
beginni
ries losses
ng
owner’s
equity
in such
subsidia
ries by
the
minority
sharehol
ders
Other explanation on subsidiary obtained by enterprise merger under same control:
2. Special purposes entity or operation entity where controlling right is formed under entrusted
operation or leasing
In RMB
Main business contact with the Balance of main assets and liability at period-end recognized in
Name
Company consolidation statement
Other explanation for special purposes entity or operation entity where controlling right is formed under entrusted operation or
leasing:
68
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
3. Explanation on changes of consolidation range
Explanation on changes of consolidation range
□ Applicable □ Not applicable
4. Entities newly included in consolidate scope during the reporting period and entities ceasing to be
included in consolidate scope during the reporting period
Subsidiaries, special purposes entities, operation entity where controlling right is formed under entrusted operation or leasing newly
included in consolidation scope during the period
In RMB
Name Net assets as at period-end Net profit for the period
Subsidiaries, special purposes entities, operation entity where controlling right is formed under entrusted operation or leasing ceasing
to be included in consolidation scope during the period
In RMB
Net profit from year-begin to
Name Net assets at disposal date
disposal date
Other explanation on subject newly included in consolidation range and those out of the range
5. Business combination under the common control during the reporting period
In RMB
Cash flow from
Criterion of Actual controller Revenue from Net profit from operation activity
Combined party combination under under the common period-begin to date combination period from combination
the common control control of combined to date of combined period to date of
combined
Other explanation for business combination under the common control:
6. Business combination not under the common control during the reporting period
In RMB
Combined party Goodwill Measurement of goodwill
Other explanation for business combination not under the common control:
7. Loss of subsidiaries due to disposal of equity interests without controlling rights during the
reporting period
Name Date for sales Recognition of gains/losses
Other explanation for loss of subsidiaries due to disposal of equity interests without controlling rights
8. Counter purchase occurred during the reporting period
Basis of counter purchase Recognition method for Measurement of goodwill
Backdoor party
recognized consolidation cost recognized in combination or
69
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
gains/losses reckoned into
current period
Other explanation for counter purchase:
9. Absorption consolidation occurred during the reporting period
In RMB
Type Main assets merge into Main liability merge into
Absorption consolidate under common control Item Amount Item Amount
Absorption consolidate under different control Item Amount Item Amount
Other explanation for absorption consolidation:
10. Translation exchange rates for items in major statements of overseas operating entities
VII. Notes to major items in consolidated financial statements
1. Monetary fund
In RMB
Amount at period-end Amount at period-begin
Item Amount in Converting Amount in Converting
Amount in RMB Amount in RMB
foreign currency rate foreign currency rate
Cash: -- -- 180,534.63 -- -- 114,315.34
RMB -- -- 178,990.80 -- -- 112,771.51
HKD 1,894.30 0.81085 1,535.97 1,894.30 0.81085 1,535.97
USD 1.25 6.28550 7.86 1.25 6.28550 7.86
Bank savings: -- -- 31,685,917.09 -- -- 52,281,045.52
RMB -- -- 31,109,868.06 -- -- 51,704,996.49
HKD 710,426.13 0.81085 576,049.03 710,426.13 0.81085 576,049.03
Total -- -- 31,866,451.72 -- -- 52,395,360.86
Separate explanation is required for accounts with restricted application purposes, deposited overseas and of potential recovery risks
arising from pledge, mortgage or frozen:
2. Transactional financial assets
(1) Transactional financial assets
In RMB
Item Fair value at period-end Fair value at period-begin
(2) Realization of restricted transactional financial assets
In RMB
70
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Other major restriction in aspect of restricted
Item Amount at period-end
conditions or realization
(3) Explanation for hedge instruments and related hedge transactions
3. Notes receivables
(1) Classification of notes receivables
In RMB
Types Amount at period-end Amount at period-begin
Bank acceptance bill 7,836,971.30 1,627,810.00
Total 7,836,971.30 1,627,810.00
(2) Notes receivable already pledged by the Company at the end of the period
In RMB
Issuer Issue date Expiring date Amount Notes
(3)Transfer of notes to notes receivable due to the issuer’s impossibility to perform its obligations, and
un-matured notes endorsed to others by the Company as at the period-end
In RMB
Issuer Issue date Expiring date Amount Notes
Explanation
Un-matured notes endorsed to others by the Company
In RMB
Issuer Issue date Expiring date Amount Notes
Jinan Yuxintai Sales Co.,
2013-05-07 2013-11-07 6,500,000.00
Ltd.
Jinan Yuxintai Sales Co.,
2013-01-25 2013-07-25 3,500,000.00
Ltd.
Jinan Yuxintai Sales Co.,
2013-03-20 2013-09-20 3,000,000.00
Ltd.
Jinan Yuxintai Sales Co.,
2013-03-26 2013-09-26 3,000,000.00
Ltd.
Henan Daming Electric
2013-05-30 2013-11-30 2,989,450.00
Car Sales Co., Ltd.
Total -- -- 18,989,450.00 --
Explanation:
71
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
In reporting period, the un-matured notes endorsed to others by the Company was 57,876,789.69 Yuan.
Explanation for commercial acceptance notes discounted or pledged:
4. Dividend receivables
In RMB
Depreciation for
Amount at Increase in this Decrease in this Amount at Reasons of
Item relevant account
period-begin period period period-end unrevoked
or not
Including: -- -- -- -- -- --
Including: -- -- -- -- -- --
Explanation
5. Interests receivables
(1) Interests receivables
In RMB
Item Amount at period-begin Increase in this period Decrease in this period Amount at period-end
(2)Overdue interests
In RMB
Unit Overdue days (day) Overdue interest
(3)Explanation on interest receivables
6. Account receivables
(1) Classified by categories
In RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Categories
Proportion Proportion Proportion Proportion
Amount Amount Amount Amount
(%) (%) (%) (%)
Account receivable of bad debt provision withdrawal by combination
Account receivable
1,037,398,0 1,036,705,3 1,042,707 1,036,705,39
withdrawal bad debt 100% 99.93% 100% 99.42%
25.03 98.73 ,561.67 8.73
provision by age group
1,037,398,0 1,036,705,3 1,042,707 1,036,705,39
Subtotal of group 100% 99.93% 100% 99.42%
25.03 98.73 ,561.67 8.73
Total 1,037,398,0 -- 1,036,705,3 -- 1,042,707 -- 1,036,705,39 --
72
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
25.03 98.73 ,561.67 8.73
Explanation for category of account receivables:
Account receivable with single significant amount and withdrawal bad debt provision separately at period-end
□ Applicable √ Not applicable
Account receivable provided for bad debt reserve under aging analysis method in the groups:
√ Applicable □ Not applicable
In RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Age
Proportion Bad debt reserve Proportion Bad debt reserve
Amount Amount
(%) (%)
within 1 year
Including: -- -- -- -- -- --
Subtotal of within
431,368.27 0.04% 17,222.72 5,740,904.91 0.55% 17,222.72
1 year
1-2 years 240,247.48 0.02% 720.74 240,247.48 0.02% 720.74
2-3 years 39,071.22 0% 117.21 39,071.22 0.01% 117.21
Over 3 years 1,036,687,338.06 99.93% 1,036,687,338.06 1,036,687,338.06 99.42% 1,036,687,338.06
Total 1,037,398,025.03 -- 1,036,705,398.73 1,042,707,561.67 -- 1,036,705,398.73
Account receivables provided for bad debt reserve under balance percentage method in the groups:
□ Applicable √ Not applicable
Account receivables provided for bad debt reserve under other method in the groups:
□ Applicable √ Not applicable
Account receivable with minor single amount but with withdrawal bad debt provision for single item at period-end
□ Applicable √ Not applicable
(2) Reversal or recovery of account receivables during the reporting period
In RMB
Bad debt reserve accrual
Reason of reversal or Basis of original bad Amount reversed or
Account receivable accumulatively before
recovery debt reserves recognized recover
reversal or recovery
Bad debt reserves accrual for account receivable with single significant amount or with single minor amount but have impairment
test in a single basis at period-end
In RMB
Account receivable Book balance Bad debt amount Accrual proportion (%) Reasons
Explanation on account receivable with single minor amount but has major risk after group by credit risk characteristics
73
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(3) Account receivables actually written-off during the reporting period
In RMB
Occurred due to
Name Nature of receivable Time of written-off Amount written-off Written-off reasons related transactions
or not
Explanation on account receivable written-off
(4) Account receivables due from the shareholders holding 5% or above voting shares of the Company
during the reporting period
In RMB
Amount at period-end Amount at period-begin
Name Bad debt amount Bad debt amount
Book balance Book balance
accrual accrual
(5) Top 5 account receivable
In RMB
Relationship with the Proportion in total
Name Amount Terms
Company account receivables (%)
Client 1 Non-related party client 174,219,907.69 Over 3 years 16.79%
Client 2 Non-related party client 140,887,132.85 Over 3 years 13.58%
Client 3 Non-related party client 97,930,571.16 Over 3 years 9.44%
Client 4 Non-related party client 69,887,060.40 Over 3 years 6.74%
Client 5 Non-related party client 52,406,319.69 Over 3 years 5.05%
Total -- 535,330,991.79 -- 51.6%
(6) Account receivables due from related parties
In RMB
Proportion in total account
Name Relationship with the Company Amount
receivables (%)
(7) Account receivables derecognized
In RMB
Gains or losses with amount derecognized
Item Amount derecognized
concerned
74
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(8) As for securities with account receivables as target subject, list the assets and liabilities arising from
further involvement
In RMB
Item Amount at period-end
Assets:
Liability:
7. Other receivables
(1) Disclosure of other receivables by classification
In RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Categories
Proportio Proportio Proportion Proportio
Amount Amount Amount Amount
n (%) n (%) (%) n (%)
Other receivable of bad debt provision withdrawal by combination
Other account receivable
549,889,506. 533,207,289. 556,674,958.
withdrawal bad debt 100% 96.97% 100% 533,207,289.71 95.78%
86 71 58
provision by age group
549,889,506. 533,207,289. 556,674,958.
Subtotal of group 100% 96.97% 100% 533,207,289.71 95.78%
86 71 58
549,889,506. 533,207,289. 556,674,958.
Total -- -- -- 533,207,289.71 --
86 71 58
Explanation for category of other receivables:
Other receivable with single significant amount and withdrawal bad debt provision separately at period-end
□ Applicable √ Not applicable
Other receivable adopt age analysis method for bad debt provision withdrawal in combination:
√ Applicable □ Not applicable
In RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Age
Proporti Bad debt reserve Proporti Bad debt reserve
Amount Amount
on (%) on (%)
within 1 year
Including:
Subtotal of within 1 year 246,748.64 0.04% 1,419.08 470,811.60 0.08% 1,419.08
75
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
1-2 years 16,361,895.88 2.98% 68,719.86 22,923,284.64 4.12% 68,719.86
2-3 years 144,144.00 0.03% 432.43 144,144.00 0.03% 432.43
Over 3 years 533,136,718.34 96.95% 533,136,718.34 533,136,718.34 95.77% 533,136,718.34
Total 549,889,506.86 -- 533,207,289.71 556,674,958.58 -- 533,207,289.71
Other receivables provided for bad debt reserve under balance percentage method in the groups:
□ Applicable √ Not applicable
Other receivables provided for bad debt reserve under other method in the groups:
□ Applicable √ Not applicable
Other receivable with single minor amount while withdrawal bad debt provision separately at period-end
□ Applicable √ Not applicable
(2) Reversal or recovery of other receivables during the reporting period
In RMB
Bad debt reserve accrual
Reason of reversal or Basis of original bad Amount reversed or
Other receivable accumulatively before
recovery debt reserves recognized recover
reversal or recovery
Bad debt reserves accrual for other account receivable with single significant amount or with single minor amount but have
impairment test in a single basis at period-end
In RMB
Account receivable Book balance Bad debt amount Accrual proportion (%) Reasons
Explanation on other account receivable with single minor amount but has major risk after group by credit risk characteristics
(3) Other receivables actually written-off during the reporting period
In RMB
Nature of other Amount Occurred due to related
Name Time of written-off Written-off reasons
receivable written-off transactions or not
Explanation on other account receivable
(4) Other receivables due from the shareholders holding 5% or above voting shares of the Company during
the reporting period
In RMB
Amount at period-end Amount at period-begin
Name Bad debt amount Bad debt amount
Book balance Book balance
accrual accrual
76
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(5) Nature or content of other receivables with significant amount
In RMB
Nature or content of the Proportion in total other receivable
Name Amount
amount (%)
Explanation
(6) Top 5 other receivable
In RMB
Relationship with the Proportion in total other
Name Amount Terms
Company receivable (%)
Client 1 Non-related party 220,038,935.10 Over 3 years 40.02%
Client 2 Non-related party 60,329,041.39 Over 3 years 10.97%
Client 3 Non-related party 30,059,193.03 Over 3 years 5.47%
Client 4 Non-related party 25,842,462.08 Over 3 years 4.7%
Client 5 Non-related party 20,531,780.08 Over 3 years 3.73%
Total -- 356,801,411.68 -- 64.89%
(7) Other receivables due from related parties
In RMB
Proportion in total other
Name Relationship with the Company Amount
receivable (%)
(8) Other receivables derecognized
In RMB
Gains or losses with amount derecognized
Item Amount derecognized
concerned
(9) As for securities with other receivables as target subject, list the assets and liabilities arising from
further involvement
In RMB
Item Amount at period-end
Assets:
Liability:
77
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
8. Payment in advance
(1) Analysis of payments in advance by aging
In RMB
Amount at period-end Amount at period-begin
Age
Amount Proportion (%) Amount Proportion (%)
within 1 year 4,440,588.55 92.32% 460,658.05 55.5%
1-2 years 369,298.08 7.68% 369,298.08 44.5%
Total 4,809,886.63 -- 829,956.13 --
Explanation for aging analysis of payments in advance:
(2) Top 5 of payments in advance
In RMB
Relationship with the
Name Amount Time Reason for unsettlement
Company
Client 1 No related relationship 1,669,898.00
Client 2 No related relationship 1,621,785.00
Client 3 No related relationship 513,867.50
Client 4 No related relationship 420,514.00
Client 5 No related relationship 69,700.00
Total -- 4,295,764.50 -- --
Explanation for major units paid in advance:
(3) Shareholders holding 5% or above voting shares of the Company in payments in advance during the
reporting period
In RMB
Amount at period-end Amount at period-begin
Name Bad debt amount Bad debt amount
Book balance Book balance
accrual accrual
(4) Explanation for payment in advance
9. Inventory
(1) Classification
In RMB
78
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Amount at period-end Amount at period-begin
Item Depreciation Depreciation
Book balance Carrying amount Book balance Carrying amount
provision provision
Raw materials 41,882,030.28 35,572,510.46 6,309,519.82 41,879,466.18 35,572,510.46 6,306,955.72
Product in process 0.00
Stock products 42,799,448.09 13,582,049.04 29,217,399.05 24,498,798.60 13,626,271.72 10,872,526.88
Revolving materials 0.00
Consumptive
0.00
biological assets
Low value
432,715.25 432,715.25 432,715.25 432,715.25
consumables
Total 85,114,193.62 49,154,559.50 35,959,634.12 66,810,980.03 49,198,782.18 17,612,197.85
(2) Inventory impairment provision
In RMB
Book-balance as at Provision for this Decrease in this period Book-balance as at
Category
period-begin period Reversal Written-off period-end
Raw materials 35,572,510.46 35,572,510.46
Stock products 13,626,271.72 44,222.68 13,582,049.04
Total 49,198,782.18 44,222.68 49,154,559.50
(3) Particular about inventory impairment provision
Proportion of the reversal
Reason for reversal during the amount during the year in the
Item Provision basis
year period-end balance of the
inventory (%)
Explanation on inventory
10. Other current assets
In RMB
Item Amount at period-end Amount at period-begin
Explanation on other current assets
11. Financial assets available for sale
(1) Particular about financial assets available for sale
In RMB
Item Fair value at period-end Fair value at period-begin
For financial assets available for sale that re-category from investment held to maturity, re-category amounting as 0 Yuan, and takes
0% of the investment held to maturity before re-category.
79
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(2) Long-term debt investment in financial assets available for sales
In RMB
Interest
Initial
Balance at Current accumulative Balance at
Item Type Face value investment Expired date
period-begin interest ly received or period-end
cost
receivables
Explanation on long-term debt investment in financial assets available for sale
12. Held-to-maturity investment
(1) Particular about held-to-maturity investment
In RMB
Item Book balance at period-end Book balance at period-begin
Explanation on held-to-maturity investment
(2) Held-to-maturity investment that sold in report period but not expired
In RMB
Proportion in amount of the investment before sales
Item Amount
(%)
Explanation on held-to-maturity investment that sold in reporting period but not expired
13. Long-term account receivable
In RMB
Type Amount at period-end Amount at period-begin
14. Investment for affiliated enterprise and joint ventures
In RMB
Equity Proportion of
Total operation
Invested proportion held voting rights in Total assets at Total liability Total net assets Net profit in
revenue in this
company by the invested period-end at period-end at period-end this period
period
Company (%) company (%)
I. Joint venture
II. Associated company
Explanation on major accounting policy and accounting estimation in joint venture and affiliated enterprises difference from the
policy and estimation of the Company:
15. Long-term equity investment
(1) Details of long-term equity investment
In RMB
Balance Balance Proportio Proportio Explanati Impairme
Invested Calculatio Investme Increase/d Impairme Cash
at at n of share n of on on the nt
company n method nt cost ecrease(+, nt bonus this
period-be period-en holding in voting incongruit provision
80
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
gin -) d invested rights in y in share provision of period
company invested holding accruing
(%) company proportio this year
(%) n and
voting
proportio
n in
invested
company
Shenzhen
Jinhuan 14,883,56 14,883,56 14,883,56 12,263,71
Equity 38% 38% -
Printing 0.00 0.00 0.00 9.50
Co., Ltd.*
14,883,56 14,883,56 14,883,56 12,263,71
Total -- -- -- --
0.00 0.00 0.00 9.50
(2) Limited ability for capital transfer to investment enterprise
In RMB
Long-term equity investment with
Un-recognized current investment losses
restriction in capital-transfer ability to Restriction reasons
accumulated
invested enterprise
Explanation on long-term equity investment:
The industry and commer resgistation information was revoked for Shenzhen Jinhuan Printing Platae Co., Ltd., shares
holding are entursted by one of the original shareholder—Hong Kong Dahuan Bicycle Co., Ltd., actual holder was the
Company.
16. Investment real estate
(1) Investment real estate measured by cost
In RMB
Book balance at
Item Increase in this period Decrease in this period Book balance at period-end
period-begin
I. Total original book
129,872,063.32 129,872,063.32
value
1. Houses and
129,872,063.32 129,872,063.32
buildings
II. Accumulated
depreciation and
108,476,887.08 485,373.30 108,962,260.38
accumulated
amortization
1. Houses and
108,476,887.08 485,373.30 108,962,260.38
buildings
III. Total net book 21,395,176.24 -485,373.30 20,909,802.94
81
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
value of investment
real estate
1. Houses and
21,395,176.24 -485,373.30 20,909,802.94
buildings
V. Total book value of
21,395,176.24 -485,373.30 20,909,802.94
investment real estate
1. Houses and
21,395,176.24 -485,373.30 20,909,802.94
buildings
In RMB
Current period
Amount depreciated and amortized in the Period 485,373.30
Amount accrual of depreciation reserves for investment real estate in the
0.00
Period
(2) Investment real estate measured by fair value
In RMB
Increase in this period Decrease in this period
Transfer-in
Fair value
Fair value at from Variation Transfer as
Item at
period-begin Acquisition self-used gains/losses Disposal self-used
period-end
property or of fair value property
inventory
Explain the investment real estate that changing measurement mold in report period, and the investment real estate without property
certificate done as well as the reasons for property certificate un-finished and predicted the time to obtained that certificates
17. Fixed assets
(1) Particular about fixed assets
In RMB
Book balance at Decrease in this Book balance at
Item Increase in this period
period-begin period period-end
I. total of book balance: 109,973,366.12 4,429.06 169,000.00 109,808,795.18
Including: House &
103,054,579.44 103,054,579.44
buildings
Machinery
4,242,098.00 4,242,098.00
equipment
Transportation tools 1,037,978.06 169,000.00 868,978.06
Other equipment 1,638,710.62 4,429.06 1,643,139.68
Book balance at Increase during Accrual in this Decrease in this Balance at
--
period-begin this period period period period-end
II. total of accumulated
94,611,492.16 334,576.96 152,100.00 94,793,969.12
depreciation:
82
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Including: House &
91,380,925.10 115,500.60 91,496,425.70
buildings
Machinery
1,278,540.74 164,344.44 1,442,885.18
equipment
Transportation tools 885,410.91 26,053.02 152,100.00 759,363.93
Other equipment 1,066,615.41 28,678.90 1,095,294.31
Book balance at Balance at
-- --
period-begin period-end
III. total net value of fixed
15,361,873.96 -- 15,014,826.06
assets
Including: House &
11,673,654.34 -- 11,558,153.74
buildings
Machinery
2,963,557.26 -- 2,799,212.82
equipment
Transportation tools 152,567.15 -- 109,614.13
Other equipment 572,095.21 -- 547,845.37
IV. total impairment
2,391,674.23 -- 2,391,674.23
provision
Including: House &
1,580,000.00 -- 1,580,000.00
buildings
Machinery equipment 426,800.00 -- 426,800.00
Other equipment 384,874.23 -- 384,874.23
V. total book value of fixed
12,970,199.73 -- 12,623,151.83
assets
Including: House &
10,093,654.34 -- 9,978,153.74
buildings
Machinery
2,536,757.26 -- 2,372,412.82
equipment
Transportation tools 152,567.15 -- 109,614.13
Other equipment 187,220.98 -- 162,971.14
Depreciation in this period amounting to 0.00 Yuan; original price transfer from construction in progress to fixed assets amounting as
0.00 Yuan
(2) Temporary idle fixed assets
In RMB
Accumulated Depreciation
Item Original book value Net book value Note
depreciation reserves
Machinery
252,098.00 190,684.97 61,413.03
equipment
83
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(3) Fixed assets leasing-in by financing lease
In RMB
Item Original book value Accumulated depreciation Net book value
(4) Fixed assets leasing-out by operational lease
In RMB
Type Carrying amount at period-end
(5) Fixed assets held for sale in period-end
In RMB
Estimated disposal
Item Carrying amount Fair value Estimated disposal time
expenses
(6) Fixed assets with un-completed property certificates
Item Reasons for un-completed certificate Times expected for certificate completed
Staff canteen (Block 10, Shuibei Plant Unpredictable, the Company in
Incomplete procedures
District) restructuring
Restaurant icehouse (Block 11, Shuibei Unpredictable, the Company in
Incomplete procedures
Plant District) restructuring
Employee housing (1) (Block 8, Shuibei Unpredictable, the Company in
Incomplete procedures
Plant District) restructuring
Employee housing (2) (Block 9, Shuibei Unpredictable, the Company in
Incomplete procedures
Plant District) restructuring
Employee housing (3) (Block 14, Shuibei Unpredictable, the Company in
Incomplete procedures
Plant District) restructuring
Employee housing (5) (Block 19, Beili Unpredictable, the Company in
Incomplete procedures
Garden) restructuring
Unpredictable, the Company in
1# workshop Incomplete procedures
restructuring
Unpredictable, the Company in
2# workshop Incomplete procedures
restructuring
Unpredictable, the Company in
3# workshop Incomplete procedures
restructuring
Unpredictable, the Company in
4# workshop Incomplete procedures
restructuring
Unpredictable, the Company in
5# workshop Incomplete procedures
restructuring
Unpredictable, the Company in
Administrative building Incomplete procedures
restructuring
Unpredictable, the Company in
Multiple-use building Incomplete procedures
restructuring
84
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Unpredictable, the Company in
1# residential building Incomplete procedures
restructuring
Unpredictable, the Company in
2# residential building Incomplete procedures
restructuring
Unpredictable, the Company in
3# residential building Incomplete procedures
restructuring
Unpredictable, the Company in
4# residential building Incomplete procedures
restructuring
Unpredictable, the Company in
5# residential building Incomplete procedures
restructuring
No.7, Guang’an Town, Xi Duan, Guomao Unpredictable, the Company in
Incomplete procedures
Road, Taijiang District, Fuzhou City restructuring
Explanation on fixed assets:
The Company offered guarantee for the US$ 7.5 million loans from China Merchants Bank for subsidiary Hong
Kong CBC, China Merchants Bank charge the failure payment from Hong Kong CBC to Shenzhen Intermdediate
Court, and the 127,333 M2 lands and above-ground structure locate in Yousong Village, Longhua Town, Bao’an
District, Shenzhen was sealed up. On 12 October 2012, Shenzhen Intermediate People’s Court accepted the case
of reforming application from Shenzhen Guosheng Energy Investment Development for Shenzhen China Bicycle
Company (Holdings) Limited. All property of the CBC, since case accepted, should release the preservation
measures by the law, and execution procedure shall be suspend, the assets shall not be seal-up, detained, frozen or
disposed unless Shenzhen Intermediate Court agree.
18. Construction in process
(1) Construction in process
In RMB
Amount at period-end Amount at period-begin
Item Depreciation Carrying Depreciation
Book balance Book balance Carrying amount
reserves amount reserves
(2) Changes of major projects under construction
In RMB
Proportio
n of Interest
Amount Accumulatincluding: Amount
Increase Transfer project capitaliz
at Other ed amount interest Capital at
Item Budget in this to fixed investme Progress of interestcapitalizedation rate
period-b decrease capitalizatiamount of source period-e
period assets nt in of the
egin on the year nd
budget year (%)
(%)
Explanation on changes of major projects under construction
85
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(3) Construction in process impairment provision
In RMB
Amount at Increase in this Decrease in this Amount at
Item Accrual reason
period-begin period period period-end
(4) Progress of material construction in progress
Item Progress Note
(5) Explanation on construction in process
19. Construction materials
In RMB
Amount at Increase in this Decrease in this
Item Amount at period-end
period-begin period period
Explanation on construction materials
20. Disposal of fixed assets
In RMB
Carrying amount at Carrying amount at
Item Reasons of disposal transfer-in
period-begin period-end
Explanation on progress of the fixed assets disposal with over one year since the disposal of fixed assets transfer-in
21. Productive biological assets
(1) Measured by cost
In RMB
Book balance at Book balance at
Item Increase in this period Decrease in this period
period-begin period-end
I. Plantation
II. Livestock
III. Forestry
IV. Marine industry
(2) Measured by fair value
In RMB
Carrying amount at Carrying amount at
Item Increase in this period Decrease in this period
period-begin period-end
I. Plantation
II. Livestock
III. Forestry
IV. Marine industry
86
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Explanation on productive biological assets
22. Oil and gas assets
In RMB
Book balance at Book balance at
Item Increase in this period Decrease in this period
period-begin period-end
Explanation on oil and gas assets
23. Intangible assets
(1) Particular about intangible assets
In RMB
Book balance at Book balance at
Item Increase in this period Decrease in this period
period-begin period-end
I. Total original book value 43,143,099.08 43,143,099.08
Land use right 43,143,099.08 43,143,099.08
II. Total accumulated
19,414,395.90 431,431.02 19,845,826.92
amortization
Land use right 19,414,395.90 431,431.02 19,845,826.92
III. Total net book value of
23,728,703.18 -431,431.02 23,297,272.16
intangible assets
Land use right 23,728,703.18 -431,431.02 23,297,272.16
Land use right
Total carrying amount of
23,728,703.18 -431,431.02 23,297,272.16
intangible assets
Land use right 23,728,703.18 -431,431.02 23,297,272.16
The amount amortized in this period accounting as 431,431.02 Yuan
(2) Expenditure of project development
In RMB
Decrease in this period
Amount at Increase in this Amount at
Item Reckoned into Recognized as
period-begin period period-end
current gains/losses intangible assets
The proportion of development expenditure of total expenditure in R&D projects in reporting period
The proportion of intangible assets form by internal R&D in total book value of intangible assets at period-end
For development projects, including single price over one million Yuan occurred in this period and the assessment price have been
kept in book, disclosed the assessment institution and way of assessment:
24. Goodwill
In RMB
Name of invested company or Balance at Increase in this Decrease in this Balance at Provision
87
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
items formed goodwill period-begin period period period-end reserve at
period-end
Explain the impairment testing method and withdrawal method for impairment provision of goodwill:
25. Long-term deferred expense
In RMB
Amount at Increase in this Amortization Amount at Reasons for other
Item Other decrease
period-begin period during this period period-end decrease
Explanation on long-term deferred expense:
26. Deferred income tax assets and deferred income tax liabilities
(1) Net amount of deferred income tax assets and deferred income tax liabilities before deduction
Deferred income tax assets and deferred income tax liability that recognized
In RMB
Item Amount at period-end Amount at period-begin
Deferred income tax assets:
Deferred income tax liability:
Details of un-recognized deferred income tax assets
In RMB
Item Amount at period-end Amount at period-begin
The deductible losses of un-recognized deferred income tax assets are expired in the follow year:
In RMB
Year Amount at period-end Amount at period-begin Note
Details of taxable difference and deductible differences
In RMB
Amount of temporary differences
Item
Amount at period-end Amount at period-begin
Items of taxable differences
Item of deductible differences
(2) Net amount of deferred income tax assets and deferred income tax liabilities after deduction
Item of deferred income tax assets and liability after mutual offset
In RMB
Deductible of Deductible of
Deferred income tax temporary Deferred income tax temporary
assets and liability differences of assets and liability differences of
Item
after mutual offset at payable taxes after after mutual offset at payable taxes after
period-end mutual offset at period-begin mutual offset at
period-end period-begin
Details of deferred income tax assets and liability after mutual offset
88
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
In RMB
Item Current mutual offset amount
Explanation on deferred income tax assets and deferred income tax liability
27. Details of asset impairment provision
In RMB
Book balance at Increase in this Decrease in this period Book balance at
Item
period-begin period Reversal Written-off period-end
I. Bad debt reserve 1,569,912,688.44 1,569,912,688.44
II. Inventory falling price
49,198,782.18 44,222.68 49,154,559.50
reserves
V. Long-term equity
investment impairment 12,263,719.50 12,263,719.50
provision
VII. Fixed asset impairment
2,391,674.23 2,391,674.23
provision
Total 1,633,766,864.35 44,222.68 1,633,722,641.67
Explanation on asset impairment provision:
28. Other non-current assets
In RMB
Item Amount at period-end Amount at period-begin
Explanation on other non-current assets
29. Short-term loans
(1) Type of Short-term Loans
In RMB
Item Amount at period-end Amount at period-begin
Guarantee loans 223,574,555.28 223,574,555.28
Guarantee loans 132,221,552.65 132,221,552.65
Total 355,796,107.93 355,796,107.93
Explanation on short-term loans
(2) Short-term loans un-paid by expired
In RMB
Reasons of unpaid on
Company Loan amount Loan rate Purpose of loans Payment date expected
time
Export-Import Bank 114,558,000.00 Production turnover Capital shortage In the reforming
89
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
of China
China Cinda Assets
56,923,923.61 Production turnover Capital shortage In the reforming
Management Corp.
China Merchants
34,893,556.32 Production turnover Capital shortage In the reforming
Bank, H.O.
Orient Assets
Management Co., 89,035,110.36 Production turnover Capital shortage In the reforming
Ltd.
Huizhou Dongfang
Union Industrial Co., 34,709,926.52 Production turnover Capital shortage In the reforming
Ltd.
Luohu branch of
15,238,496.53 Production turnover Capital shortage In the reforming
CMB
China Everbright
9,817,094.59 Production turnover Capital shortage In the reforming
Bank
China Construction
Bank of Sichuan 620,000.00 Production turnover Capital shortage In the reforming
Mianyang
Total 355,796,107.93 -- -- -- --
Amount 00.00 Yuan paid after balance sheet date
Explanation on short-term loans: as for the expired short-term loans which gains a exhibition period, explain the exhibition condition
and new expired date
The abovementioned loans are overdue for yeras
30. Transactional financial liabilities
In RMB
Item Fair value at period-end Fair value at period-begin
Explanation on transactional financial liabilities
31. Note payable
In RMB
Type Amount at period-end Amount at period-begin
Amount expired in next accounting period: 0.00 Yuan
Explanation on note payable:
32. Account payables
(1) Account payables
In RMB
Item Amount at period-end Amount at period-begin
within 1 year 32,982,301.26 12,482,380.28
1-2 years 243,077.59 243,077.59
2-3 years
90
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Over 3 years 105,750,315.60 105,750,315.60
Total 138,975,694.45 118,475,773.47
(2)Accounts payable to shareholders holding 5% or above voting shares of the Company
In RMB
Name Amount at period-end Amount at period-begin
(3) Explanation on major account payable with over one year age:
Account payable with over one-year in account age refers to the accounts hanging for yeras due to indolvent
33. Account received in advance
(1) Account received in advance
In RMB
Item Amount at period-end Amount at period-begin
within 1 year 8,151,221.69 2,447,643.11
1-2 years 547,963.59 547,963.59
2-3 years
Over 3 years 10,664,592.85 10,664,592.85
Total 19,363,778.13 13,660,199.55
(2)Accounts received in advance to shareholders holding 5% or above voting shares of the Company
In RMB
Name Amount at period-end Amount at period-begin
(3) Explanation on major account received in advance with over one year age:
Major account received in advance with over one year age mainly refers to the contact accumulated resulte from
historical business
34. Wages payable
In RMB
Book balance at Book balance at
Item Increase in this period Decrease in this period
period-begin period-end
I. Wage, bonus,
allowance and 2,567,091.52 4,024,905.00 4,150,258.10 2,441,738.42
subsidy
VI. Other 1,416,754.00 77,567.07 150,527.99 1,343,793.08
Outlay for labor
union and staff 1,416,754.00 77,567.07 150,527.99 1,343,793.08
educational charge
91
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Total 3,983,845.52 4,102,472.07 4,300,786.09 3,785,531.50
No arrears in wages payable
Outlay for labor union and staff educational charge amounting as 0.00 Yuan; no non-monetary welfare and no compensation for
dismiss of labor relationship
The wages payable expected to pay and the amount for payment:
35. Tax payable
In RMB
Item Amount at period-end Amount at period-begin
VAT 54,421,072.70 54,432,329.55
Business tax 436,925.25 451,932.63
Enterprise income tax 33,753,125.02 33,753,125.02
Personal income tax 690,092.54 14,851.01
City maintenance and construction tax 16,109.68 15,992.02
Property tax 7,293,642.64 7,293,642.64
Other 17,939.07 18,835.73
Total 96,628,906.90 95,980,708.60
Explanation on tax payable: if the local taxation bureau agrees mutual adjustment between vary branches and plants, explain taxation
calculation:
The Company has payment of fine and overdue fine due to a long period for tax arrears.
36. Interest payable
In RMB
Item Amount at period-end Amount at period-begin
Loan interests 230,575,685.75 230,575,685.75
Total 230,575,685.75 230,575,685.75
Explanation on interest payable:
37. Dividend payable
In RMB
Reasons of unpaid for over one
Name Amount at period-end Amount at period-begin
year
Explanation on dividend payable:
38. Other payables
(1) Other payables
In RMB
Item Amount at period-end Amount at period-begin
within 1 year 45,656,192.61 48,393,010.94
1-2 years 11,905,625.18 11,905,625.18
92
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
2-3 years 2,793,311.04 2,793,311.04
Over 3 years 368,183,647.51 368,183,647.51
Total 428,538,776.34 431,275,594.67
(2) Others payable due to shareholders units holding over 5% (5% included) voting shares of the Company
In RMB
Name Amount at period-end Amount at period-begin
Shenzhen Guosheng Energy Investment
41,500,000.00 41,500,000.00
Development Co., Ltd.
Total 41,500,000.00 41,500,000.00
(3) Explanation on other account payable with over one year age
Account payable with over one year age refers to the amount insolvent by the Company
(4) Explanation on unit of major connected amount for other account payable
39. Accrual liability
In RMB
Item Amount at period-begin Increase in this period Decrease in this period Amount at period-end
Guarantee offer outside 166,212,952.92 166,212,952.92
Total 166,212,952.92 166,212,952.92
Explanation on accrual liability
In the abovementioned companies, except fot the accrual liability withdrawal for undertake joint liability for loans
of Guangdong Sunrise Holdings Co., Ltd., the liquidated part for creditors after reforming plan of Sunrise
completed, other companies are seriously insolvent or closed down.
40. Non-current liability due within one year
(1) Non-current liability due within one year
In RMB
Item Amount at period-end Amount at period-begin
Long-term loans due within one year 453,747,741.58 453,747,741.58
Total 453,747,741.58 453,747,741.58
(2) Long-term loans due within one year
Long-term loans due within one year
In RMB
Item Amount at period-end Amount at period-begin
Long-term loans due within one year 453,747,741.58 453,747,741.58
Total 453,747,741.58 453,747,741.58
Amount 0.00 refers to the overdue loans with exhibition obtained in long-term loans due within one year
Top five amount in long-term loans due within one year
In RMB
93
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Amount at period-end Amount at period-begin
Amount in Amount in
Unit Start date Expiry date Currency Rate (%)
foreign In RMB foreign In RMB
currency currency
Shenzhen
Guosheng
Energy 62,829,259.0 397,483,024. 62,829,259.0 397,483,024.
USD
Investment 2 21 2 21
Development
Co., Ltd.
Shenzhen
Guosheng
Energy 19,300,058.5 19,300,058.5
RMB
Investment 9 9
Development
Co., Ltd.
China Cinda
Assets 13,648,549.6 13,648,549.6
USD 2,157,395.94 2,157,395.94
Management 5 5
Co., Ltd.
China
Greatwall
12,653,050.0 12,653,050.0
Assets USD 2,000,000.00 2,000,000.00
0 0
Management
Co., Ltd.
Xie Lingling USD 500,000.00 3,163,200.00 500,000.00 3,163,200.00
446,247,882. 446,247,882.
Total -- -- -- -- -- --
45 45
Overdue loans in long-term loans due within one year
In RMB
Annual interest Reasons for Payment date
Unit Loans Overdue term Loans purpose
rate (%) overdue paid expected
Shenzhen
Guosheng Energy
Investment 416,783,082.80 Overdue for years
Development
Co., Ltd.
China Cinda
Assets 13,648,549.65 Overdue for years
Management Co.,
94
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Ltd.
China Greatwall
Assets
12,653,050.00 Overdue for years
Management Co.,
Ltd.
Xie Lingling 6,162,950.00 Overdue for years
China Orient
Assets
3,000,000.00 Overdue for years
Management
Corp.
Shenzhen Lionda
Holdings Co., 1,500,109.13 Overdue for years
Ltd.
Total 453,747,741.58 -- -- -- -- --
Amount 0.00 paid after balance sheet date
Explanation on long-term loans due within one year
(3) Bond payable due within one year
In RMB
Interest
Interest Interest paid Interest
Release Offering payable at Closing
Bond Face value Bond period accrual in in the payable at
date price period-begi balance
the Period Period period-end
n
Explanation on bond payable due within one year
(4) Long-term account payable due within one year
In RMB
Unit Term Initial amount Interest rate (%) Interest accrual Closing balance Loan condition
Explanation on long-term account payable due within one year
41. Other current liability
In RMB
Item Book balance at period-end Book balance at period-begin
Rent 521,639.87 521,639.87
Decoration charge 188,853.82 188,853.82
Other 1,633,856.38 1,620,656.38
Total 2,344,350.07 2,331,150.07
Explanation on other current liability:
95
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
42. Long-term loan
(1) Category of long-term loans
In RMB
Item Amount at period-end Amount at period-begin
Explanation on long-term loans
(2) Top five long-term loans
In RMB
Amount at period-end Amount at period-begin
Interest rate Amount in Amount in
Unit Start date Expiry date Currency
(%) foreign In RMB foreign In RMB
currency currency
Explanation on long-term loans: explain renewal condition, principal, interest and expected payment arrange for long-term loans
resulted from renew for overdue loans
43. Bond payable
In RMB
Interest
Interest Interest paid Interest
Release Offering payable at Closing
Bond Face value Bond period accrual in in the payable at
date price period-begi balance
the Period Period period-end
n
Explanation on bond payable: including share-converted condition and time for convertible corporate bonds
44.Long-term account payable
(1) Top five long-term account payable
In RMB
Balance at
Unit Term Initial amount Rate (%) Interest reckoned Loan condition
period-end
(2)Details of financing rent payable in long-term payable
In RMB
Amount at period-end Amount at period-begin
Unit
Foreign currency In RMB Foreign currency In RMB
Amount 0.00 guarantee offer to financing rent of the Company from independent third party
Explanation on long-term account payable
96
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
45. Specific account payable
In RMB
Amount at Increase in this Decrease in Amount at
Item Note
period-begin period this period period-end
Explanation on special account payable
46. Other non-current liability
In RMB
Item Book balance at period-end Book balance at period-begin
Other non-current liability, including vary government subsidy related with assets and income as well as its balance at period-end:
47. Share capital
In RMB
Increased (decreased) in this year
Amount at Shares Amount at
New shares
period-begin Bonus shares converted from Other Sub-total period-end
issued
public reserve
Total shares 551,347,947.00 551,347,947.00
Explanation on share capital changes, if there has capital increase/decrease in reporting period, disclosed the CPA’s name and
verification documents; for company limited within 3 years operation, explain the net assets before establishment; for those company
limited changed from limited liability company, explain the verification condition while established.
48. Stock shares
Explanation on stock shares
49. Specific Reserve
Explanation on specific Reserve:
50. Capital reserves
In RMB
Amount at
Item Amount at period-begin Increase in this period Decrease in this period
period-end
Including: gain on restructuring
482,580,588.23 482,580,588.23
of debt
Account without
690,624.97 690,624.97
payment
Price difference of
3,318,000.00 3,318,000.00
related transaction
Total 486,589,213.20 486,589,213.20
Explanation on capital reserve
97
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
51. Surplus reserves
In RMB
Amount at
Item Amount at period-begin Increase in this period Decrease in this period
period-end
Statutory surplus reserves 32,673,227.01 32,673,227.01
Total 32,673,227.01 32,673,227.01
Explanation on surplus reserve, if share capital converted from surplus reserve, remedy deficit and dividend distributed, explain
relevant resolutions:
52. General risk provision
Explanation on general risk provision:
53. Retained profits
In RMB
Withdrawal or allocation
Item Amount
ratio
Retained profits at the end of last year before
-2,780,061,643.62 --
adjustment
Retained profits at the beginning of the year after
-2,780,061,643.62 --
adjustment
Add: The net profits belong to owners of patent
-29,283,608.20 --
company of this period
Less: withdrawal of statutory surplus reserves 10%
Retained profits at the end of the period -2,809,345,251.82 --
Details about adjusting the retained profits at the beginning of the year:
(1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the
undistributed profits at the beginning of the year amounting to 0 Yuan.
(2) The changes in accounting policies affect the undistributed profits at the beginning of the year amounting to 0 Yuan.
(3) The major accounting error correction affects the undistributed profits at the beginning of the year amounting to 0 Yuan.
(4) Merge scope changes caused by the same control affect the undistributed profits at the beginning of the year amounting to 0 Yuan.
(5) Other adjustments affect the undistributed profits at the beginning of the year amounting to 0 Yuan.
The undistributed profits explain that the company initial public offering bonds should clearly state if the accumulated profits are
decided to be shared by old and new shareholders by general meeting of stockholders before issuing; while the company should
clearly disclose that the profits in the dividends payable belong to old shareholders after auditing if the general meeting of
stockholders decides the accumulated profits are allocated and shared by old shareholders before issuing.
54. Operating income and cost
(1) Operating income and cost
98
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
In RMB
Item Amount of this period Amount of last period
Main operating income 92,447,037.49 101,526,547.36
Other operating income 12,456,483.10 11,659,538.84
Operating cost 92,139,173.51 101,210,241.57
(2) Main business (By industries)
In RMB
Amount of this period Amount of last period
Industry
Operating income Operating cost Operating income Operating cost
Sales of bicycle and spare parts 91,085,989.79 86,181,559.63 100,374,527.80 95,148,412.36
Lease management 1,361,047.70 1,644,557.66 1,152,019.56 2,623,800.34
Total 92,447,037.49 87,826,117.29 101,526,547.36 97,772,212.70
(3) Main business (By products)
In RMB
Amount of this period Amount of last period
Products
Operating income Operating cost Operating income Operating cost
OEM electric vehicle 69,701,335.81 66,261,490.66 78,442,258.17 74,422,449.78
OEM bicycle 20,816,179.61 19,409,282.99 19,664,983.99 18,604,372.91
CBC electric vehicle 0.00 0.00
CBC bicycle 281,709.39 233,886.84 107,273.54 93,461.41
Other 286,764.98 276,899.14 2,160,012.10 2,028,128.26
Lease management 1,361,047.70 1,644,557.66 1,152,019.56 2,623,800.34
Total 92,447,037.49 87,826,117.29 101,526,547.36 97,772,212.70
(4) Main business (By districts)
In RMB
Amount of this period Amount of last period
District
Operating income Operating cost Operating income Operating cost
92,447,037.49 101,526,547.36
Total 92,447,037.49 101,526,547.36
99
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(5) The operating income of the top five customers of the Company
In RMB
The percentage in all operating income of the Company
Customer name Primary business income
(%)
Client 1 28,078,081.70 26.77%
Client 2 21,470,552.94 20.47%
Client 3 14,898,360.81 14.2%
Client 4 7,933,041.23 7.56%
Client 5 4,327,471.79 4.13%
Total 76,707,508.47 73.13%
Explanation on operating income
55. Contract item income
In RMB
Accumulative gross
Accumulative cost profit recognized
Fixed price contract Item Amount Amount settlement
occurred (loss is listed with
“-“)
Accumulative gross
Accumulative cost profit recognized
Cost-plus contract Item Amount Amount settlement
occurred (loss is listed with
“-“)
Explanation on contract item
56. Business tax and surcharges
In RMB
Item Amount of this period Amount of last period Calculating and payment standards
Business tax 68,052.39 57,600.98 5%
City maintenance and construction
49,119.69 15,146.56 7%
tax
Educational surtax 68,767.51 10,818.97 5%
Total 185,939.59 83,566.51 --
Explanation on business tax and surcharges
57. Sales expenses
In RMB
100
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Item Amount of this period Amount of last period
Wages 1,555,388.25 1,458,880.59
New products development fee 920,282.10 10,000.00
Market promotion fees 292,689.61
Travel expenses 228,460.40 225,743.10
Advertising and publicity costs 146,500.00 250,000.00
Other 446,048.88 513,997.46
Total 3,589,369.24 2,458,621.15
58. Administration expenses
In RMB
Item Amount of this period Amount of last period
Restructuring charge 31,721,968.92
Wages social security 2,467,176.81 2,641,609.48
Taxes 886,707.53 907,880.26
Amortization of depreciation charge 761,100.76 2,028,404.29
Audit expenses 500,000.00 500,000.00
Other 2,172,777.66 3,523,370.91
Total 38,509,731.68 9,601,264.94
59. Financial expenses
In RMB
Item Amount of this period Amount of last period
Interest expenses 30,861,468.30
Less: interest income -219,377.90 -52,129.03
Gains/losses from exchange 2,376,697.86
Other 20,726.63 18,257.19
Total -198,651.27 33,204,294.32
60. Income of fair value changes
In RMB
Resources of variation of fair value Amount of this period Amount of last period
Explanation on income of fair value changes
101
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
61. Investment income
(1) Particulars about investment income
In RMB
Item Amount of this period Amount of last period
(2) Income of long-term equity investment calculated based on cost
In RMB
Company name Amount of this period Amount of last period Reasons of change (+,-)
(3) Income of long-term equity investment calculated based on equity
In RMB
Company name Amount of this period Amount of last period Reasons of change (+,-)
Investment income description: It should be introduced if there is a significant restriction to repatriation of investment income; it also
should be introduced if there is no this kind of significant restrictions:
62. Asset impairment loss
In RMB
Item Amount of this period Amount of last period
I. Bad debt loss -15,588.87
Total -15,588.87
63. Non-operating income
(1) Non-operating income
In RMB
Amount reckoned into
Item Amount of this period Amount of last period current non-recurring
gains/losses
Other 66,345.00 80,257.23 66,345.00
Total 66,345.00 80,257.23 66,345.00
(2) Details of government grants
In RMB
102
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Item Amount of this period Amount of last period Note
Explanation on non-operating income
64. Non-operating expenditure
In RMB
Amount reckoned into
Item Amount of this period Amount of last period current non-recurring
gains/losses
Other 25,290.00 22,000.00 25,290.00
Total 25,290.00 22,000.00 25,290.00
Explanation on non-operating expenditure
65. Income tax expense
In RMB
Item Amount of this period Amount of last period
66. Calculation of basic earnings per share and diluted earnings per share
Item Amount of this period Amount of last period
Net profit attributable to the shareholders of ordinary shares of P1 -29,283,608.20 -33,344,485.07
the Company in Period
Non-recurring gains/losses attributable to the shareholders of F -31,480,732.26 58,257.23
ordinary shares of the Company in Period
Net profit attributable to the shareholders of ordinary shares P2=P1-F 2,197,124.06 -33,402,742.30
after the deduction of non-recurring gains and losses
Impact on net profit attributable to shaerholders of ordinary P3 - -
shaers from dilution matters
Impact on net profit attributable to shaerholders of ordinary P4 - -
shaers after the deduction of non-recurring gains and losses
from dilution matters
Total number of shares at the beginning of the year S0 551,347,947.00 551,347,947.00
The number of increased shares due to reserve’s conversion S1 - -
into share capital or distribution of dividends in the reporting
period
The number of increased shares due to issue of new shares or Si - -
debt-to-equity in the reporting period
The number of accumulated months from the next month of Mi - -
shares increase to the end of the reporting period
103
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
The number of decreased shares due to repurchase in the Sj - -
reporting period
The number of accumulated months from the next month of Mj - -
shares decrease to the end of the reporting period
The number of contraction of shares in the reporting period Sk - -
Number of months in the reporting period M0 6 6
The weighted average number of ordinary shares outstanding S=S0+S1+Si*Mi/ 551,347,947.00 551,347,947.00
M0-Sj*Mj/M0-Sk
Add: number of weighted average of ordinary shares increased X1 - -
by issued ordinary shares converted from dilutive potential
ordinary share on assumption basis
Weighted average of ordinary shares of diluted EPS X2=S+X1 551,347,947.00 551,347,947.00
Including: Weighted average of ordinary shares increased - -
from convertion of convertible corporate bonds
Weighted average of ordinary shares increased from - -
warrants/exercise of stock option
Weighted average of ordinary shares increased from - -
performance of buy-back commitment
Basic EPS attributable to shareholders of ordinary shares of Y1=P1/S -0.0531 -0.0605
the Company
Basic EPS attributable to shareholders of ordinary shares of Y2=P2/S 0.0040 -0.0606
the Company after the deduction of non-recurring gains and
losses
Diluted EPS attributable to shareholders of ordinary shares of Y3=(P1+P3) /X2 -0.0531 -0.0605
the Company
Diluted EPS attributable to shareholders of ordinary shares of Y4=(P2+P4) /X2 0.0040 -0.0606
the Company after the deduction of non-recurring gains and
losses
67. Other consolidated income
In RMB
Item Amount of this period Amount of last period
Explanation on other consolidated income
68. Notes to statement of cash flow
(1) Other cash received in relation to operation activities
In RMB
Item Amount
104
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Rent and utilities 11,621,081.82
Other contact amount 7,708,761.88
Total 19,329,843.70
Explanation on other cash received in relation to operation activities
(2) Other cash paid in relation to operation activities
In RMB
Item Amount
Period charge paid and operation business expenses 8,499,083.25
Total 8,499,083.25
Explanation on other cash paid in relation to operation activities
(3) Cash received from other investment activities
In RMB
Item Amount
Explanation on cash received from other investment activities
(4) Cash paid related with investment activities
In RMB
Item Amount
Explanation on cash paid related with investment activities
(5) Other cash received in relation to financing activities
In RMB
Item Amount
Explanation on other cash received in relation to financing activities
(6) Cash paid related with financing activities
In RMB
Item Amount
Explanation on cash paid related with financing activities
69. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Supplementary information Amount in this period Amount in last period
1. Net profit adjusted to cash flow of operation activities: -- --
Net profit -29,280,987.16 -33,298,056.19
Add: assets impairment losses -15,588.87
Depreciation of fixed assets, consumption of oil assets and
761,100.76 2,441,158.89
depreciation of productive biology assets
105
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Amortization of intangible assets 431,431.02 431,431.02
Loss from disposal of fixed assets, intangible assets and
32,000.00
other long-term assets(gain is listed with “-”)
Financial expenses (gain is listed with “-”) -198,651.27 33,204,294.32
Decrease of inventory (increase is listed with “-”) -18,347,436.27 -17,034,490.36
Decrease of operating receivable accounts (increase is listed
1,905,896.56 5,564,616.82
with “-”)
Increase of operating payable accounts (decrease is listed
24,140,166.28 6,249,049.24
with “-”)
Net cash flow arising from operating activities -20,556,480.08 -2,504,014.01
2. Material investment and financing not involved in cash
-- --
flow
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 31,866,451.72 22,032,420.40
Less: Balance of cash equivalent at year-begin 52,395,360.86 24,546,601.39
Net increase of cash and cash equivalents -20,528,909.14 -2,514,180.99
(2) Relevant information about obtaining/disposal of subsidiary and other business unit in report period
In RMB
Supplementary information Amount of this period Amount of last period
I. Relevant information about obtaining subsidiary and
-- --
other business units:
II. Relevant information about disposal of subsidiary and
-- --
other business units:
(3) Constitution of cash and cash equivalent:
In RMB
Item Amount at period-end Amount at period-begin
Ⅰ. Cash 31,866,451.72 52,395,360.86
Including: stock cash 180,534.63 114,315.34
Bank deposit available for payment at any time 31,685,917.09 52,281,045.52
Ⅲ. Balance of cash and cash equivalent at year-end 31,866,451.72 52,395,360.86
Explanation on constitution of cash and cash equivalent:
70. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period as well as the retroactive adjustment arising from enterprise
combination under same control:
106
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
VIII. Accounting treatment of assets securitization
1. Explain the main exchange of assets securitization and its accounting treatment and provision of
bankruptcy-remote
2. Subject of special purpose without controlling rights on hand by actually bear the risks
In RMB
Total assts at Total liability at Net assts at Current operation
Name Current net profit Note
period-end period-end period-end income
IX. Related Parties and Transactions
1. Parent company of the Company
Proportion Proportion
Final
Legal of shares of voting
Parent Relationsh Registratio Business Registered controller Organizati
Nature representat held to the right to the
company ip n place nature capital of the on code
ive Company Company
Company
(%) (%)
Industrial
developme
nt,
Limited domestic
Shenzhen
liability business,
Guosheng
Controllin company material
Energy
g (sole supply & 70000000. 77411579-
Investment Shenzhen Ji Hanfei 11.81% 11.81% Ji Hanfei
sharehold proprietors marketing 00 2
Developm
er hip of (specialize
ent Co.,
legal s in
Ltd.
person) exclusive
monopoly
goods
excluded)
Explanation on parent company of the enterprise
2. Subsidiary of the Company
Subsidiary Legal Proportion Proportion
Registration Business Registered Organizatio
of the Type Nature representati of shares of voting
place nature capital n code
Company ve held (%) right (%)
Shenzhen
Anjule
Controlling RMB 2
Property Shenzhen Li Hai 100% 100%
subsidiary million
Managemen
t Co., Ltd.
107
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
China
Bicycle Controlling
Hong Kong HK$ 20000 100% 100%
(Internation subsidiary
al) Co., Ltd.
China
Bicycle
Controlling HK$ 5
(Hong Hong Kong 99% 99%
subsidiary million
Kong) Co.,
Ltd.
Shenzhen
Emmelle Controlling RMB 2
Shenzhen Li Hai 70% 70%
Industry subsidiary million
Co., Ltd.
3. Details of joint-venture and affiliated enterprise of the Company
Proportion
Equity
of voting
proportion
Invested Register Business Register rights in Relationshi Organizatio
Type Legal rep. held by the
company place nature capital invested p n code
Company
company
(%)
(%)
I. Joint venture
II. Associated company
Shenzhen Joint-ventur
Jinhuan e of $3,700,000.
Shenzhen Gu Ke 38% 38% 61883711X
Printing Sino-foreig 00
Co., Ltd. * n
4. Particulars about other related parties
Other related parties Relationship with the Company Organization code
Explanation on other related parties:
5. Related transaction
(1) Statement of commodity purchased and labor service received
In RMB
Amount of this period Amount of last period
Pricing way and Ratio in Ratio in
Related party Content decision making similar similar
Amount Amount
procedures transactio transactio
ns (%) ns (%)
108
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Statement of commodity sales and labor service provided
In RMB
Amount of this period Amount of last period
Pricing way and Ratio in Ratio in
Related party Content decision making similar similar
Amount Amount
procedures transactio transactio
ns (%) ns (%)
(2) Related trusteeship/contract
Statement of trusteeship/contract
In RMB
Pricing basis of
Earnings
Trustee/contracto earnings from
Client/contractee Assets type Start date Expiry date recognized in
r trusteeship/contra
Period
ct
Statement of delegated management /package
In RMB
Trustee fee and
Pricing basis of
Trustee/contracto contract fee
Client/contractee Assets type Start date Expiry date trustee fee/
r recognized in
contract fee
Period
Explanation on related trusteeship/contract
(3) Related leasing
Statement of rent out
In RMB
Leasing earnings
Pricing basis of
Lessor Lessee Assets type Start date Expiry date recognized in
leasing earnings
Period
Statement of accepting leases
In RMB
Pricing basis of Rent recognized
Lessor Lessee Assets type Start date Expiry date
rent in Period
Explanation on related leasing
(4) Related guarantee
In RMB
Whether the
Guarantor Secured party Guarantee amount Start date Expiry date guarantee
implemented or not
Explanation on related guarantee
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(5) Borrowed funds from related party
In RMB
Related party Borrowing amount Start date Expiry date Note
Inter-bank borrowing
Lending transaction
(6) Assets transfer, debt restructure of related party
In RMB
Amount of this period Amount of last period
Ratio in Ratio in
Transaction
Related party Content Pricing principle similar similar
type Amount Amount
transactio transactio
ns (%) ns (%)
(7) Other related transactions
6. Account receivable/payable for related parties
Account receivable from related parties
In RMB
Period-end Period-begin
Item Related party
Book balance Bad debt reserve Book balance Bad debt reserve
Account payable for related parties
In RMB
Item Related party Amount at period-end Amount at period-begin
Shenzhen Jinhuan Printing Platae
Other payable 2,616,430.50 2,616,430.50
Co., Ltd.
Shenzhen Guosheng Energy Long-term liability due within
416,783,082.80 416,783,082.80
Investment Development Co., Ltd. one year
Shenzhen Guosheng Energy
Interest payable 4,353,349.98 4,353,349.98
Investment Development Co., Ltd.
Shenzhen Guosheng Energy
Other payable 41,500,000.00 41,500,000.00
Investment Development Co., Ltd.
X. Share-based payment
1. General particular about share-based payment
In RMB
Explanation on share-based payment
2. Share –based payment settled by equity
In RMB
Explanation on share-based payment settled by equity
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
3. Share-based payment settled by cash
In RMB
Explanation on share-based payment settled by cash
4. Share-based payment settled by service
In RMB
5. Particular about amendment of share-based payment and its termination
XI. Contingency
1. Contingent liability and its financial influence formed by un-settle lawsuits or arbitration
(1) As of 30 June 2013, totally 17 financing institutions are charge the Company for failed to pay the overdue
loans, which involved loans principal RMB 411.6367 million, US$ 76.9345 million and HK$ 8.2616 million, the
Company is decided defeat as a results for majority of the abovementioned lawsuits or cases mediated. After the
litigation, part of the creditor transfer the debts, than main body in the case changed correspondingly
(2) As of 30 June 2013, totally 34 suppliers or other units are charge the Company with RMB 71.1824 million,
HK$ 24.5340million and US$ 2.8006 million involved, the Company is decided defeat as a results for majority of
the abovementioned lawsuits
2. Contingent liability and its financial influence formed from debt guarantee offered to other units
Impact on financial status,
Item Amount involved operation results and cash flow Nature
in the Period and post-period
Loan guarantee of Guangdong Sunrise Holdings RMB25,270,000.00 (1) Guarantee
Co., Ltd. USD700,000.00
Loan guarantee of Gintian Industry (Group) RMB50,000,000.00 (2) Guarantee
Co., Ltd.
Loan guarantee of Shenzhen Tianma Cosmetics RMB8,000,000.00 (3) Guarantee
Co., Ltd.
ZoriaPteLtdc USD10,000,000.00 (4) Guarantee
Shendong Huajiaming Trade Co., Ltd. RMB83,142.92 (5) Guarantee
Total RMB83,353,142.92
USD10,700,000.00
(1) In April 2011, the turnaround plan of Sunrise Company was decided to completed [(2010) Shen Zhong Fa Min
Qi Chong Zheng Zi No.: 5-16 “Civil Ruling Paper”] by Shenzhen Intermedia Court. In accordance with the Page
12 of Turnaround Plan of Sunrise Company approved in October 2010 by Shenzhen Intermedia Court”·based on
the share disclount method, satisfaction of ordinary creditor gains a 27.89% rate of amortization through shares
pay off, gains 2.16% rate of amortization plus currency settlement, the ordinary creditor gains a 30.05% rate of
amortization in total·”. The 30% of the accrual losses in the guarantee was written-off. At balance at period-end,
70% of the guarantee amount was accrual for lossses by the Company.
(2) The company was delist with seriously insolvent, total guarantee amount are accrual for losses.
(3) The company was closed down, total guarantee amount are accrual for losses.
(4) The company sreiously insolvent, and in process of liquidation, total guarantee amount are accrual for losses.
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(5) The company sreiously insolvent, total guarantee amount are accrual for losses.
Other contingent liability and its financial influence:
XII. Commitments
1. Material commitments
No material commitments in reporting period
2. Commitments made previously
XIII. Subsequent events of balance sheet
1. Explanation on major event after balance sheet date
In RMB
Impact amount on financial Reasons of impact amount
Item Content
status and operation results unable to estimated
2. Profit distribution after balance sheet date
In RMB
3. Other explanation after balance sheet date
(1) Creditor’s right declaring and approval
In late July of 2013, the (2012) Shen Zhong Fa Po Zi No.: 30-4 “Civil Ruling Paper” issed by Shenzhen
Intermediate People’s Court was received by the Company from administrator: Being approved through
investigation from Shenzhen Intermediate, as of 25 June 2013, administrator of CBC recived totally 59 creditor’s
rights declaring with claim of RMB 3,457,953,812.32 (the following presents RMB) declare. Among them, one
claim for employee payment with RMB10,175,420.00 declare; 3 claims for taxes with RMB547,903,187.49
declare and 56 ordinary claims (including one declare for employee payment) with RMB2,899,875,204.83 in total.
Administrator of CBC approved the abovementioned claim and deliver examination result to all creditor.
Subsequently, administrator of CBC re-check the objections from creditors, 54 claims are recognized while 5
de-recognized. After checking agein, as of 25 June 2013, totally 6 creditor in the abovementioned recognized 54
claims are propose objections and to lodge a complaint, other creditor shows no objections without proceedings
taken, CBC shows no objection for the above complaint. Total 48 creditors have been recognized without
objection by administrator of CBC with RMB 1,663,681,044.97 claim in total. Among them, one emlpyee
payment of RMB10,175,420.00; 3 tax claim of RMB 92,075,600.05 and 47 ordinary claims of
RMB1,561,430,024.92. The 48 creditors have been prepared in the form of claims by administrator of CBC for
confirmed from the Court. The Shenzhen Intermediate considers that debtor and creditors shows no objection for
the debts from Shenzhen Guosheng Energy Investment Development Co., Ltd. and other 47 creditors according to
the verification results. The claims of Shenzhen Guosheng Energy Investment Development Co., Ltd. and other
47 creditors are order to recognized in line with the regulation of Clause 2 of Article 58 in “Enterprise Bankruptcy
Law of The People’s Republic of China”. And the ruling takes effect as from today.
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
XIV. Other major event
1. Non-monetary assets exchange
2. Debt reorganization
(1) Bankruptcy reorganization of the Company
On 11th, May, 2012, the largest shareholder and biggest creditor of the Company, Shenzhen Guosheng Energy
Investment and Development Co., Ltd. applied to Shenzhen Municipal Intermediate People's Court for reforming
the Company as the Company couldn’t pay off the matured debts and was seriously insolvent. On 12th, Oct., 2012,
Shenzhen Municipal Intermediate People's Court ruled to accept the application proposed by Guosheng Energy
according to (2012) Shenzhen Intermediate Court Po Zi No. 30 civil ruling. In late October, 2012, Shenzhen
Municipal Intermediate People's Court ruled to reform the Company since 25th, Oct., 2012 according to (2012)
Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen) Mallesons and
Shenzhen Zhengyuan Liquidation Affairs Co., Ltd. as the custodians of the Company. At the same time, Shenzhen
Municipal Intermediate People's Court made (2012) Shenzhen Intermediate Court Po Zi No. 30-1 written decision,
and approved the Company to manage property and business affairs by itself under the supervision of custodians
according to the law. After the Company entered bankruptcy reorganization procedures, in accordance with the
relevant regulations of Enterprise Bankruptcy Law of the People's Republic of China, the custodians started
creditor's rights declaring registration and examination, and the first meeting of creditors of the Company’s
reorganization case was presided over by Shenzhen Municipal Intermediate People's Court and convoked on 11th,
Dec., 2012. According to the legal provisions, the company has established the reorganization plan draft, and
submitted to Shenzhen Intermediate People's Court and the meeting of creditors of the company within the
st
legal time limit. On 31 , Jul., 2013, the company has received the written ruling for confirming the financial claim
from the court and announced it. Soon afterwards, Shenzhen Intermediate People's Court decided to hold the
second meeting of creditors about the corporation reorganization on 22nd, Aug., 2013 to consider and vote the
reorganization plan draft of Shenzhen China Bicycle Co., Ltd. and convene the investor meeting on the same day
to consider and vote the investors’ interests adjustment program involved in the reorganization plan draft. At
present, the reorganization is on the way.
In the course of reforming, the Company exists the risks of being suspended according to the regulations of
“Listing Rules”, or being declared bankruptcy liquidation in accordance with the regulations of “Enterprise
Bankruptcy Law of the People's Republic of China” (Reforming plan failed); if the Company is declared
bankruptcy liquidation, the stock of the Company will face the risk of being delisted.
(2) Financial debt reconstructing
In accordance with YJBT [2004] No.6 Document issued by the Office of China Banking Regulatory Commission
on Jan. 7th, 2004, the Bank of China, totally 11 financial institutes agreed to stop calculating the interests as of Jan.
1st, 2002 for three years, and exempt all and any interests payable prior to Dec. 31st, 2001, including the default
interests and compound interests. The Company will transfer all the interests payable (including the default
interests and compound interests) of RMB 357,993,665.24 prior to Dec. 31st, 2001 to “public accumulated capital”,
and the interests will be not calculated temporarily from Jan. 1st, 2002 to Dec. 31st, 2004. This term of interest’s
113
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
exemption shall be valid before Dec. 31st, 2004.
In 2005, China Huarong Asset Management Corporation Shenzhen Office, China Orient Asset Management Corp.
Shenzhen Office, China Cinda Asset Management Corporation Shenzhen Office and China Great Wall Asset
Management Corporation Shenzhen Office will continuous to stop calculating the interests of 2005 loans.
Whereas the term of “Stop Calculating Interests” may cause discrepancy and General Terms on the Loan did not
interpreted its meaning either, China Huarong Asset Management Corporation Shenzhen Office, China Orient
Asset Management Corp. Shenzhen Office, China Cinda Asset Management Corporation Shenzhen Office and
China Great Wall Asset Management Corporation Shenzhen Office all agree not to claim the Company to repay
all the interests stopped calculating herein. However, Shenzhen Development Bank required the Company to
repay all the interests and compound interests which was stopped calculating from Jan.1st, 2002 to Dec.31, 2004.
The Company argued that the interests which were stopped calculating shall not be repaid; therefore, after the
period during which the interests is stopped calculating, the interests to be repaid shall be calculated as the normal
loans, but not the interests and compound interests stopped calculating from Jan.1st, 2002 to Dec. 31, 2004. The
Company takes opinions as the un-calculated interest are not return, therefore, when the un-calculated period
expired, payable interest should calculate on normal loans, and the intestate and compound interest stop calculated
from 1 January 2002 to 31 December 2004 are not accrued.
Considering that the company had reformed since October 25, 2012, the relevant creditor had declared the
creditor’s right, the specific amount needed to be audited by managers and declared to court to judge, and will
liquidate in reorganization.
(3) Sustainable operation
On 11th, May, 2012, the largest shareholder and biggest creditor of the Company, Shenzhen Guosheng Energy
Investment and Development Co., Ltd. applied to Shenzhen Municipal Intermediate People's Court for reforming
the Company as the Company couldn’t pay off the matured debts and was seriously insolvent. On 12th, Oct., 2012,
Shenzhen Municipal Intermediate People's Court ruled to accept the application proposed by Guosheng Energy
according to (2012) Shenzhen Intermediate Court Po Zi No. 30 civil ruling. In late October, 2012, Shenzhen
Municipal Intermediate People's Court ruled to reform the Company since 25th, Oct., 2012 according to (2012)
Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen) Mallesons and
Shenzhen Zhengyuan Liquidation Affairs Co., Ltd. as the custodians of the Company. At the same time, Shenzhen
Municipal Intermediate People's Court made (2012) Shenzhen Intermediate Court Po Zi No. 30-1 written decision,
and approved the Company to manage property and business affairs by itself under the supervision of custodians
according to the law. After the Company entered bankruptcy reorganization procedures, in accordance with the
relevant regulations of Enterprise Bankruptcy Law of the People's Republic of China, the custodians started
creditor's rights declaring registration and examination, and the first meeting of creditors of the Company’s
reorganization case was presided over by Shenzhen Municipal Intermediate People's Court and convoked on 11th,
114
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Dec., 2012. According to the legal provisions, the company has established the reorganization plan draft, and
submitted to Shenzhen Intermediate People's Court and the meeting of creditors of the company within the
legal time limit. On 31st, Jul., 2013, the company has received the written ruling for confirming the financial claim
from the court and announced it. Soon afterwards, Shenzhen Intermediate People's Court decided to hold the
second meeting of creditors about the corporation reorganization on 22nd, Aug., 2013 to consider and vote the
reorganization plan draft of Shenzhen China Bicycle Co., Ltd. and convene the investor meeting on the same day
to consider and vote the investors’ interests adjustment program involved in the reorganization plan draft. At
present, the reforming is being advanced, the Company will solve the debt crisis via the reforming, introduce
strong recombination party, and transfuse high quality assets so as to recover the Company’s sustainable operation
ability and profitability and realize benign development of the Company.
3. Enterprise combination
4. Leasing
5. Financial instrument issued outside and convertible to shares in report period
6. Main content of annuity plan and major changes
In RMB
Changes of fair
Gains/losses of
Amount at value reckoned into Impairment accrual Amount at
Item change of fair value
period-begin equity in this term period-end
in this term
accumulatively
Financial assets
Subtotal of financial
0.00 0.00 0.00 0.00 0.00
assets
Total 0.00 0.00 0.00 0.00 0.00
Financial liability 0.00 0.00 0.00 0.00 0.00
7. Foreign currency financial assets and financial liability
In RMB
Changes of fair
Gains/losses of
Amount at value reckoned into Impairment accrual Amount at
Item change of fair value
period-begin equity in this term period-end
in this term
accumulatively
Financial assets
Subtotal of financial
0.00 0.00 0.00 0.00 0.00
assets
Financial liability 0.00 0.00 0.00 0.00 0.00
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
8. Main content of pension plan and major changes
9. Other
XV. Principle notes of financial statements of parent company
1. Accounts receivable
(1) Accounts receivable
In RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Type
Propo
Proporti Proporti Proporti
Amount rtion Amount Amount Amount
on (%) on (%) on (%)
(%)
Account receivable of bad debt provision withdrawal by combination
Withdrawal bad debt
1,034,396,837. 1,034,297,021.
reserve of account 100% 1,033,282,124.90 99.89% 100% 1,033,282,124.90 99.9%
50 50
receivable by age group
1,034,396,837. 1,034,297,021.
Subtotal of group 100% 1,033,282,124.90 99.89% 100% 1,033,282,124.90 99.9%
50 50
1,034,396,837. 1,034,297,021.
Total -- 1,033,282,124.90 -- -- 1,033,282,124.90 --
50 50
Explanation on types of accounts receivable:
Account receivable with single significant amount and withdrawal bad debt provision separately at period-end
□ Applicable √ Not applicable
Account receivable adopt age analysis method for bad debt provision withdrawal in combination:
√ Applicable □ Not applicable
In RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Age
Proporti Bad debt reserve Proporti Bad debt reserve
Amount Amount
on (%) on (%)
within 1 year
Including: -- -- -- -- -- --
Subtotal of
99,816.00 0.01% 0.00
within 1 year
Over 3 years 1,034,297,021.50 99.99% 1,033,282,124.90 1,034,297,021.50 100% 1,033,282,124.90
116
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Total 1,034,396,837.50 -- 1,033,282,124.90 1,034,297,021.50 -- 1,033,282,124.90
Account receivables provided for bad debt reserve under balance percentage method in the groups:
□ Applicable √ Not applicable
Account receivables provided for bad debt reserve under other method in the groups:
□ Applicable √ Not applicable
Account receivable with minor single amount but with withdrawal bad debt provision for single item at period-end
□ Applicable √ Not applicable
(2) Accounts receivable switched back or taken back during the report period
In RMB
Bad debt reserve accrual
Reversal or Basis of original bad Amount reversed or
Account receivable accumulatively before
taken-back debt reserves recognized recover
reversal or recovery
Accrual of bad debt reserves for account receivable with single significant amount or with minor amount but with impairment test on
a single basis at period-end
In RMB
Account receivable Book balance Bad debt amount Accrual proportion (%) Reasons
Explanation on account receivable with single minor amount but has major risk after group by credit risk characteristics
(3) Account receivables actually written-off during the reporting period
In RMB
Occurred due to
Name Nature of receivable Time of written-off Amount written-off Written-off reasons related transactions
or not
Explanation on account receivable written-off
(4) Account receivables due from the shareholders holding 5% (5% included) or above voting shares of the
Company during the reporting period
In RMB
Amount at period-end Amount at period-begin
Name Bad debt amount Bad debt amount
Book balance Book balance
accrual accrual
(5) Properties and contents of other accounts receivable with large amount
(6) Top 5 account receivable
In RMB
117
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Relationship with the Proportion in total
Name Amount Terms
Company account receivables (%)
Client 1 Non-related party client 174,219,907.69 Over 3 years 16.84%
Client 2 Non-related party client 140,887,132.85 Over 3 years 13.62%
Client 3 Non-related party client 97,930,571.16 Over 3 years 9.47%
Client 4 Non-related party client 69,887,060.40 Over 3 years 6.76%
Client 5 Non-related party client 52,406,319.69 Over 3 years 5.07%
Total -- 535,330,991.79 -- 51.76%
(7) Account receivables due from related parties
In RMB
Proportion in total account
Name Relationship with the Company Amount
receivables (%)
(8)
Transferring amount is 0 Yuan for accounts receivable not conforming to terminate the confirmation.
(9) It is required to introduce the relevant transaction arrangement for asset securitization taking accounts
receivables as the standard
2. Other accounts receivable
(1) Other accounts receivable
In RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Category
Propo Propo Propo Propo
Amount rtion Amount rtion Amount rtion Amount rtion
(%) (%) (%) (%)
Other receivable of bad debt provision withdrawal by combination
Other account receivable
91.47 90.73
withdrawal bad debt 566,419,969.78 100% 518,077,882.75 570,988,778.14 100% 518,077,882.75
% %
provision by age group
91.47 90.73
Subtotal of group 566,419,969.78 100% 518,077,882.75 570,988,778.14 100% 518,077,882.75
% %
118
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Total 566,419,969.78 -- 518,077,882.75 -- 570,988,778.14 -- 518,077,882.75 --
Explanation for category of other receivables:
Other receivable with single significant amount and withdrawal bad debt provision separately at period-end
□ Applicable √ Not applicable
Other account receivable adopt age analysis method for bad debt provision withdrawal in combination:
√ Applicable □ Not applicable
In RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Age
Proporti Bad debt reserve Proporti Bad debt reserve
Amount Amount
on (%) on (%)
within 1 year
Including: -- -- -- -- -- --
Subtotal of
15,491,684.90 2.74% 742.45 13,154,669.62 2.3% 742.45
within 1 year
1-2 years 18,688,258.37 3.3% 68,701.35 25,594,082.01 4.48% 68,701.35
2-3 years 144,144.00 0.03% 432.43 144,144.00 0.03% 432.43
Over 3 years 532,095,882.51 93.94% 518,008,006.52 532,095,882.51 93.19% 518,008,006.52
Total 566,419,969.78 -- 518,077,882.75 570,988,778.14 -- 518,077,882.75
Other receivables provided for bad debt reserve under balance percentage method in the groups:
□ Applicable √ Not applicable
Other receivables provided for bad debt reserve under other method in the groups:
□ Applicable √ Not applicable
Other receivable with single minor amount while withdrawal bad debt provision separately at period-end
□ Applicable √ Not applicable
(2) Other accounts receivable switched back or taken back during the report period
In RMB
Bad debt reserve accrual
Reason of reversal or Basis of original bad Amount reversed or
Other receivable accumulatively before
recovery debt reserves recognized recover
reversal or recovery
Bad debt reserves accrual for other account receivable with single significant amount or with single minor amount but have
impairment test in a single basis at period-end
In RMB
Account receivable Book balance Bad debt amount Accrual proportion (%) Reasons
Explanation on other account receivable with single minor amount but has major risk after group by credit risk characteristics
119
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(3) Other account receivables actually written-off during the reporting period
In RMB
Nature of other Amount Occurred due to related
Name Time of written-off Written-off reasons
receivable written-off transactions or not
Explanation on other account receivable written-off
(4) Other receivables due from the shareholders holding 5% (5% included) or above voting shares of the
Company during the reporting period
In RMB
Amount at period-end Amount at period-begin
Name Bad debt amount Bad debt amount
Book balance Book balance
accrual accrual
(5) Nature or content of other receivables with significant amount
(6) Top 5 other receivable
In RMB
Relationship with the Proportion in total other
Name Amount Terms
Company receivable (%)
Client 1 Non-related party 220,038,935.10 Over 3 years 38.85%
Client 2 Non-related party 60,359,041.39 Over 3 years 10.66%
Client 3 Non-related party 30,059,193.03 Over 3 years 5.31%
Client 4 Non-related party 25,902,462.08 Over 3 years 4.57%
Client 5 Non-related party 20,531,780.08 Over 3 years 3.62%
Total -- 356,891,411.68 -- 63.01%
(7)Other receivables due from related parties
In RMB
Proportion in total other
Name Relationship with the Company Amount
receivable (%)
120
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
(8)
Transferring amount is 0 Yuan for other accounts receivable not conforming to terminate the confirmation.
(9) It is required to introduce the relevant transaction arrangement for asset securitization taking other
accounts receivables as the standard
3. Long-term equity investment
In RMB
Descripti
on of
Counting
inconfor
and
Balance Increase Balance Share mity of
Vote drawing Cash
holding share
Company Calculatin at and at percentag
percentag
holding Provision impairme dividends
g investmen e in nt at the
e in percentag reserve
name methods t costs period-be decrease period-en invested reserves current
invested e and vote
gin changes d units (%) at the period
units (%) percentag
current
e in
period
invested
units
Shenzhen
Emmelle 1,400,000 1,400,000 1,400,000 1,400,000
Cost 70% 70% -
Industry .00 .00 .00 .00
Co., Ltd.
Shenzhen Cost
Anjule
Property 2,000,000 2,000,000 2,000,000 2,000,000
100% 100% -
Managem .00 .00 .00 .00
ent Co.,
ltd.
China Cost
Bicycle
5,350,000 5,350,000 5,350,000 5,350,000
(Hong 99% 99% -
.00 .00 .00 .00
Kong)
Co., Ltd.
China Cost
Bicycle
(Internati 18,727.60 18,727.60 18,727.60 100% 100% - 18,727.60
onal) Co.,
Ltd.
Shenzhen
Jinhuan 14,883,56 14,883,56 14,883,56 12,263,71
Equity 38% 38% -
Printing 0.00 0.00 0.00 9.50
Co., Ltd.
121
深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
23,652,28 23,652,28 23,652,28 21,032,44
Total -- -- -- --
7.60 7.60 7.60 7.10
Explanation on long-term equity investment
4. Operating income and cost
(1) Operating income
In RMB
Item Amount of this period Amount of last period
Main operating income 344,800.01 110,585.50
Other operating income 13,184,719.87 12,475,813.05
Total 13,529,519.88 12,586,398.55
Operating cost 4,562,602.46 3,494,706.28
(2) Main business (by industry)
In RMB
Amount of this period Amount of last period
Industry
Operating income Operating cost Operating income Operating cost
Sales of bicycle and spare
344,800.01 296,730.28 110,585.50 96,846.17
parts
Total 344,800.01 296,730.28 110,585.50 96,846.17
(3) Main business (By products)
In RMB
Amount of this period Amount of last period
Products
Operating income Operating cost Operating income Operating cost
CBC bicycle 344,800.01 296,730.28 110,585.50 96,846.17
Total 344,800.01 296,730.28 110,585.50 96,846.17
(4) Main business (By districts)
In RMB
Amount of this period Amount of last period
District
Operating income Operating cost Operating income Operating cost
344,800.01 110,585.50
Total 344,800.01 110,585.50
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(5) The operating income of the top five customers of the Company
In RMB
The percentage in all
Customer name Primary business income operating income of the
Company (%)
Explanation on operating income
5. Investment income
(1) Particulars about investment income
In RMB
Item Amount of this period Amount of last period
(2) Income of long-term equity investment calculated based on cost
In RMB
Amount of last
Company name Amount of this period Reasons of change (+,-)
period
(3) Income of long-term equity investment calculated based on equity
In RMB
Amount of last
Company name Amount of this period Reasons of change (+,-)
period
Explanation on investment income:
6. Supplementary information of cash flow statement
In RMB
Supplementary information Amount in this period Amount in last period
1. Adjust the net profits to be cash flow for operating activities -- --
Net profits -28,904,684.82 -32,675,448.12
Add: assets impairment preparation 0.00 -15,588.87
fixed assets depreciation, oil-and-gas assets loss , productive living
782,254.44 2,401,844.61
beings depreciation
Intangible assets amortization 431,431.02 431,431.02
Financial costs(profits fill with “-“ ) -102,659.42 33,240,370.76
Stock decreases(increases fill with “-“ ) 296,730.28 52,709.42
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Operating receivables decrease(increases fill with “-“ ) 4,468,992.36 -321,450.78
Operating payables increase(decreases fill with “-“ ) -316,406.49 -3,456,326.94
Net cash flow generated by operating activities -23,344,342.63 -342,458.90
2. Significant investment financial activities not involving and cash
-- --
deposit and withdrawal
3. Net changes of cash and cash equivalents -- --
Ending balance of cash 8,088,545.87 216,106.23
Decrease: opening balance of cash equivalents 31,432,888.50 561,283.08
Net increase of cash and cash equivalents -23,344,342.63 -345,176.85
7. Assets and liabilities enter into the account book with assessed value by counter purchase
Assets and liabilities enter into the account book with assessed value by counter purchase
In RMB
Item Fair value Recognition of fair value Calculation of fair value Original carrying amount
Long-term equity investment resulted by counter purchase
In RMB
Amount of long-term equity investment
Item Calculation of long-term equity investment
resulted by counter purchase
XVI. Supplementary Information
1. Current non-recurring gains/losses
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
15,100.00
write-off that accrued for impairment of assets)
Restructuring charges, including staffing charges and integrated
-31,521,787.26 Staffing charges
costs etc.
Other non-operating income and expenditure except for the
25,955.00
aforementioned items
Total -31,480,732.26 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
2. 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)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP -29,283,608.20 -33,344,485.07 -1,738,734,864.61 -1,709,451,256.41
Items and amount adjusted by IAS
(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)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP -29,283,608.20 -33,344,485.07 -1,738,734,864.61 -1,709,451,256.41
Items and amount adjusted by foreign accounting rules
(3) Reasons for the differences of accounting data under accounting rules in and out of China
3. ROE and EPS
In RMB
EPS
Profit in the Period Weighted average ROE (%)
Basic EPS Diluted EPS
Net profit attributable to common shareholders
1.7% -0.0531 -0.0531
of the Company
Net profit attributable to common shareholders
of the Company after deducting non-recurring -0.13% 0.004 0.004
gains/losses
4. Abnormalities and reasons of the accounting statement items of the Company
Item Changes of Changes ratio (%) Note
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
amount between
period-end and
period-begin
Monetary fund -20,528,909.14 -39.18 Mainly due to the economic compensation paid
Note receivable 6,209,161.30 381.44 Note receivable from Emmelle(subsidiary of the Company) at
period-end increased
Net acount -5,309,536.64 -88.46 Account receivable from Emmelle(subsidiary of the Company) at
receivable period-end decreased
Account paid in 3,979,930.50 479.54 Account paid in advance from Emmelle(subsidiary of the Company) at
advance period-end increased
Net other account -6,785,451.72 -28.91 Part of the execution amount of the Court was received
payable
Inventory 18,347,436.27 104.17 Inventroy for sales in summer from Emmele (subsidiary of the
Company) increased
Account payable 20,499,920.98 17.30 Account payable for inventroy for sales in summer from Emmele
(subsidiary of the Company) increased
Account received in 5,703,578.58 41.75 Account received in advance for inventroy for sales in summer from
advance Emmele (subsidiary of the Company) increased
Adminsitration 28,908,466.74 301.09 Mainly due to the economic compensation paid
expenses
Finacnial expenses -33,402,945.59 -100.60 After the Company entered the reorganization process, original
interest-bearing debt stopped to bear interest, foreign currency debt
stopped to discount exchange rate
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深圳中华自行车(集团)股份有限公司 2013 半年度报告全文
Section IX. Documents available for reference
I. Accounting statements with the signature and seal from the legal representative, person in charge of accounting works and person
in charge of the accouting organ;
II. Text and original draft of the notice that disclosed in reproting period on newspapers appointed by CSRC;
III.Semi-annual report of the Company for year of 2013 (English version)
Board of Directors of
Shenzhen China Bicycle Company (Holdings) Limited
21August 2013
127
