深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Shenzhen China Bicycle Company (Holdings) Limited
SEMI-ANNUAL REPORT 2014
August 2014
1
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section I. Important Notice, Contents and Paraphrase
Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of Shenzhen 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.
All directors are attended the Board Meeting for report deliberation.
The Company has no plans of cash dividend distributed, no bonus shares and has
no share converted from capital reserve either.
Luo Guiyou, principal of the Company, Li Hai, 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 2014
is authentic, accurate and complete.
2
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section II Company profile
I. Company Profile
Short form for share Zhonghua – A, Zhonghua -B Code for share 000017, 200017
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
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
Room 1201, Wantong Building, No.3002, Room 1201, Wantong Building, No.3002,
Contact adds.
Sungang East Road, Shenzhen Sungang East Road, Shenzhen
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 add. No. 3008, Buxin Road, Shenzhen
Code for registrations add 518020
Offices add. Room 1201, Wantong Building, No.3002, Sungang East Road, Shenzhen
Codes for office add. 518023
Company’s Internet Web Site www.cbc.com.cn
3
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
E-mail dmc@szcbc.com.cn
Query date for temporary notice disclosed on
--
appointed website (if applicable)
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
√ Applicable □ Not applicable
Newspaper appointed for information disclosure Securities Times; Hong Kong Commercial Daily
Website for annual report publish appointed by
www.cninfo.com.cn
CSRC
Preparation place for annual report Room 1201, Wantong Building, No.3002, Sungang East Road, Shenzhen
Query date for temporary notice disclosed on
--
appointed website (if applicable)
Query index for temporary notice disclosed on
--
appointed website (if applicable)
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of taxation registration and
organization code have no change in reporting period, found more details in Annual Report 2013.
4
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting error
correction or not
□Yes √ No
Increase/decrease in this report
Current period Same period of last year
y-o-y
Operating revenue (RMB) 85,666,634.40 104,903,520.59 -18.34%
Net profit attributable to shareholders of the
1,874,649.46 -29,283,608.20 -106.40%
listed company(RMB)
Net profit attributable to shareholders of the
listed company after deducting -2,694,064.82 2,197,124.06 -222.62%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
2,745,840.89 -20,556,480.08 -113.36%
activities(RMB)
Basic earnings per share (RMB/Share) 0.0034 -0.0531 -106.40%
Diluted earnings per share (RMB/Share) 0.0034 -0.0531 -106.40%
Weighted average ROE 23.61% 1.70% 21.91%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end
Total assets (RMB) 71,080,200.32 151,511,429.85 -53.09%
Net assets attributable to shareholder of
8,877,984.86 7,003,335.40 26.77%
listed company(RMB)
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
5
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
The Company has no difference of the net profit and net assets disclosed in financial report, under both IAS (International Accounting
Standards) and Chinese GAAP (Generally Accepted Accounting Principles) in reporting period
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules
and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company has no difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and
Chinese GAAP (Generally Accepted Accounting Principles) in reporting period
III. Items and amounts of extraordinary profit (gains)/loss
√ Applicable □ Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
33,851.46
write-off that accrued for impairment of assets)
Other non-operating income and expenditure except the
4,845,452.91
abovementioned
Less: Impact on income tax 280,473.51
Impact on minority shareholders’ equity (post-tax) 30,116.58
Total 4,568,714.28 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the
Public --- Extraordinary Profit/loss
6
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section IV. Report of the Board of Directors
I. Introduction
Shenzhen Intermediate People’s Court rendered a ruling of the completion of the implementation of the
restructuring plan of Shenzhen China Bicycle Company and the conclusion of its bankruptcy procedure on 27
December 2013, followed by the resumption of trading of its A share and B share on 31 December of the same year.
Being approved by Shenzhen Stock Exchange, trading stock of the Company cancel the delisting risk warning since
14 May 2014
In the first half of 2014, domestic macro-economic situation remains severe, as in the field of traditional
manufacturing, the bicycle industry continues to face the difficulties in soaring material costs, manufature costs and
capital costs, total available market continue to fall. In consepence of the low market entry barries and mutiple
vendors, market is extremely competitive and the Company runs in an unfavorable enviornment. However, with the
development of social economic in China and changes of the concept of life, the consciousness of gree travel and
practice relaxation continues been arounded, bicycle industry stands in the opportunity of structural development. In
the first half year, on basis of maintain key market areas of northern and eastern China, the Company emphasize
market development in the South and northwest through gridding method in aspect of business development; while
in aspect of operation method, greadually establish the mode of supermarket-operation and E-commerce; in aspect
of product research, continues to strengthen the development of mid-to high-end bicycles, E-bike and auxiliaries;
meanwhile, improve supporting and cooperation standards towards front office for the back office via reinforcing
back office manaagement and office automation. Through carrying out various operations, under the circumstances
of slightly down in bicycle business over that of last year in the first half year, the gross profit from bicycle operation
stands the same as last year’s, business operation of the bicycle maintains a smooth and healthy running.
II. Main business analysis
Y-o-y changes of main financial data
In RMB
Y-o-y
Same period of
Current period increase/decre Reasons for changes
last year
ase
Operation revenue 85,666,634.40 104,903,520.59 -18.34%
Operation cost 80,326,800.62 92,139,173.51 -12.82%
Sales expense of subsidiary Emmelle
Sales expenses 1,856,602.82 3,589,369.24 -48.27%
decreased
There is economic compensation due to
Administrative expenses 5,077,370.04 38,509,731.68 -86.82%
restructuring at same period of last year
Monetary fund decreased and interest
Financial cost -98,274.42 -198,651.27 -50.53%
income declined
7
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Income tax expense 789,686.25
Net cash flow arising from Expenses paid for bankruptcy
2,745,840.89 -20,556,480.08 -113.36%
operation activities restructuring at same period of last year
Net cash flow arising from Dispose assets at same period of last year
-219,304.27 27,570.94 -895.42%
investment activities and purchased fixed asset in the Period
Net increase of cash and cash Expenses paid for bankruptcy
2,526,536.62 -20,528,909.14 -112.31%
equivalent restructuring at same period of last year
Subsidiary EMMELLE’s account
Accounts receivable 2,207,762.11 7,060,251.28 -68.73%
receivable decreased in the Period-end
Subsidiary EMMELLE’s account paid in
Advance payment 943,983.29 177,636.49 431.41%
advance increased in the Period-end
Account receivables from administrators
Other account receivable 560,467.78 107,395,429.69 -99.48%
decreased
Subsidiary EMMELLE prepare goods for
Inventory 22,846,440.68 4,545,116.43 402.66%
sales peak season
Fixed assets 452,133.85 227,824.37 98.46% Purchase new fixed assets
Account payables increased due to the
Account payables 25,020,457.21 9,935,720.73 151.82% stock ready for sale peak season from
subsidiary EMMELLE
Subsidiary EMMELLE’s account
Account received in advance 6,027,223.64 3,627,323.31 66.16%
received in advance increased
The enterprise income tax for year of
Taxes payable 1,731,786.24 93,778,253.57 -98.15%
2013 paid in the Period
Account payable to administrator
Other payables 26,819,638.25 34,954,734.89 -23.27%
decreased
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 1,870,000 in January to June 2014, and the net profit attributable
to shareholders of listed company was RMB -29,280,000 in January to June 2013. Turn losses into gains mainly because: operation
business runs normally after restructuing procedures closed, and losses in same period of last year mainly because the Company paying
off labor claim for employees, than the current administration expenses increased
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
Nil
8
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
III. Constitution of main business
In RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Gross
Operating revenue Operating cost operating revenue operating cost profit ratio over
profit ratio
over same period over same period same period of
of last year of last year last year
According to industries
Bicycle and sales of
82,413,282.09 77,743,826.24 5.67% -9.52% -9.79% 0.28%
spare parts
Leasing management 0.00 0.00 -100.00% -100.00% 20.83%
According to products
OEM electric vehicle 62,313,134.43 58,778,064.57 5.67% -10.60% -11.29% 0.74%
OEM bicycle 19,947,262.69 18,760,980.47 5.95% -4.17% -3.34% -0.81%
CBC bicycle 94,461.57 112,515.09 -19.11% -66.47% -51.89% -36.09%
Other 58,423.40 92,266.11 -57.93% -79.63% -66.68% -61.37%
Leasing management 0.00 0.00 -100.00% -100.00% 20.83%
According to region
Shenzhen 653,776.07 613,280.36 6.19% -80.44% -81.78% 6.91%
Other places 81,759,506.02 77,130,545.88 5.66% -8.24% -8.68% 0.45%
IV. Core competitive-ness analysis
Despite the fierce market competition in the bicycle industry as a conventional industry, the increased awareness of
green commuting, leisure and exercises as a result of the development of China’s social economy and the change of
people’s living concept creates structural development opportunity for the bicycle industry. The Company will
continue to do better in various aspects of operation such as market development, product development and quality
management so as to maintain and improve the Company’s ability to continue as a going concern before the
restructuring. On the other side, the Company has set out the condition of introduction of investors in the
restructuring plan with expectation to restore its ability to continue as a going concern and its continuous
profitability through the restructuring of assets.
V. Investment analysis
1. Equity investment outside
(1) Investment outside
□ Applicable √ Not applicable
The Company has no investment outside in the Period
9
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(2) Holding equity of financial enterprise
□ Applicable √ Not applicable
The Company has no equity of financial enterprise held in the Period
(3) Securities investment
□ Applicable √ Not applicable
The Company has no securities investment in the Period
2. Trust financing, investment of derivatives and entrustment loan
(1) Trust financing
□ Applicable √ Not applicable
The Company has no trust financing in the Period
(2) Investment of derivatives
□ Applicable √ Not applicable
The Company has no derivatives investment in the Period
(3) Entrustment loan
□ Applicable √ Not applicable
The Company has no entrustment loan in the Period
3. Application of raised proceeds
(1)Overall application of raised proceeds
□ Applicable √ Not applicable
(2) Situation of committed project of raised proceeds
□ Applicable √ Not applicable
(3)The changed project of raised proceeds
□ Applicable √ Not applicable
The Company has no project of raised proceeds changed in the Period
10
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
4. Main subsidiaries and joint-stock companies analysis
√ Applicable □ Not applicable
Main subsidiaries and joint-stock companies
In RMB
Industr
Main
y Registered Operation Operation
Name Type products or Total assets Net assets Net profit
involv capital revenue profit
service
ed
Shenzhen
Sales of
Emmelle Subsidiar
Trade bicycles and 2000000 64,235,616.34 3,939,517.32 83,395,111.04 2,030,215.54 1,621,391.39
Industry y
accessories
Co., Ltd.
5. Major project invested by non-raised funds
□ Applicable √ Not applicable
No major project invested by non-raised funds in Period.
VI. Prediction of business performance from January – September 2014
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the warning
of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable √ Not applicable
VII. Explanation from the Board and Supervisory Committee for “Qualified Opinion” from
the CPA of this year’s
□ Applicable √ Not applicable
VIII. Explanation from the Board for “Qualified Opinion” of last year’s
√ Applicable □ Not applicable
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
11
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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. On 5 November 2013, the Shenzhen Intermediate People’s Court (2012) Shen Zhong Fa Po Zi
No. 30-6 Civil Ruling Paper judged that approved the reorganization plan of the Company. On 27 December 2013,
the Civil Ruling Paper Shenzhen Intermediate People’s Court (2012) Shen Zhong Fa Po Zi No. 30-10 ruled that the
reorganization plan of CBC was completed and bankruptcy procedures of CBC closed down.
The Company has solved the debt problem by reforming, realized the net assets with positive value, the main
business of bicycle is able to be maintained and realizes the stable development. The Company has set up the
conditions for introducing the recombination party in the reforming plan, and expects to restore the abilities of
sustainable operation and sustained profitability by reorganization. The conditions of introducing the recombination
party includes: the assessed value of net assets should be no less than 2 billion Yuan, the net assets in the same year
for implementing the major reorganization should be no less than 200 million Yuan. The Company doesn’t have the
recombination party at the moment. The Company will continue to carry out vary related works actively and
promote the reorganization work with all efforts.
IX. Implementation of profit distribution in reporting period
Implementation or adjustment of profit distribution plan in reporting period, cash dividend plan and shares converted from capital
reserve in particular
□ Applicable √ Not applicable
Previous year’s profit distribution plan was no profit distribution and shares converted from capital reserve either
X. Profit distribution and capitalization of capital reserves in the Period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for the
semi-annual year
XI. In the report period, reception of research, communication and interview
√ Applicable □ Not applicable
Contents discussed and
Time Place Way Type Reception
material provided
Phone The public Restructure progress of the
Jan-Jun 2014 The Company Individual
communication shareholders Company
12
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section V. Important Events
I. Corporate governance
During the 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
□ Applicable √ Not applicable
In reporting period, the Company has no bankruptcy reorganization occurred.
V. Transaction in assets
1. Assets acquisition
□ Applicable √ Not applicable
The Company did not purchased assets in the Period
2. Sales of assets
□ Applicable √ Not applicable
The Company did not sell assets in the Period
13
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
3. Business combination
□ Applicable √ Not applicable
The Company has no business combined in the Period
VI. Implementation of the company’s equity incentive and the effects
□ Applicable √ Not applicable
No equity incentive in reporting period
VII. Significant related transaction
1. Related transaction routine operations concerned
□ Applicable √ Not applicable
The Company has no related transaction with routine operations concerned occurred in the Period
2. Related transaction incurred by purchase or sales of assets
□ Applicable √ Not applicable
No related transaction incurred by purchase or sales of assets in Period
3. Related transaction from jointly investment outside
□ Applicable √ Not applicable
No related transaction from jointly investment outside occurred in Period
4. Contact of related credit and debt
√ Applicable □ Not applicable
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
The largest Subsidiary
Energy Investment related party No 650 0 650
shareholder borrow capital
Development Co., Ltd. payable
5. Other significant related transactions
□ Applicable √ Not applicable
The Company had no other significant related transactions in the reporting period
14
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
VIII. Non-business capital occupying by controlling shareholders and its related parties
□ Applicable √ Not applicable
No non-business capital occupied by controlling shareholders and its related parties in Period
IX. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
The Company had no trusteeship in the reporting period.
(2) Contract
□ Applicable √ Not applicable
The Company had no contract in the reporting period.
(3) Leasing
□ Applicable √ Not applicable
The Company had no leasing in the reporting period.
2. Guarantee
□ Applicable √ Not applicable
The Company had no guarantee in Period.
(1) Guarantee outside against the regulation
□ Applicable √ Not applicable
No guarantee outside against the regulation in Period
3. Other material contracts
□ Applicable √ Not applicable
The Company had no other material contracts in the reporting period.
4. Other material transactions
□ Applicable √ Not applicable
The Company had no other material transactions in the reporting period.
15
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
X. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or occurred in the previous reporting period but continued to
reporting period
□ Applicable √ Not applicable
The Company had no commitment made by the Company or shareholders holding above 5% shares of the Company in reporting period
or occurred in the previous reporting period but continued to reporting period.
XI. Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□ Yes √ No
XII. Penalty and rectification
□ Applicable √ Not applicable
The Company had no penalty or rectification in the reporting period.
XIII. Risk disclosure of delisting with laws and rules violated
□ Applicable √ Not applicable
The Company has no delisting risks with laws and rules violated in Period
XIV. Explanation on other significant events
√ Applicable □ Not applicable
(1) Being approved by Shenzhen Stock Exchange, trading stock of the Company cancel the delisting risk warning
since 14 May 2014
(2) The final settlement for payable enterprise income tax for year of 2013 has paid in the Period, that is 92.39
million Yuan
16
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in shares
In share
Before the Changes Increase/Decrease in the Change (+, -) After the Changes
Newly- Public
Proporti Bonus Subtot Proportio
Amount issued reserve-conve Others Amount
on shares al n
shares rted shares
I. Restricted shares 11,362 0.00% 11,362 0.00%
3、Other domestic shares 11,362 0.00% 11,362 0.00%
Domestic natural
11,362 0.00% 11,362 0.00%
person’s shares
II. Unrestricted shares 551,336,585 100.00% 551,336,585 100.00%
1. RMB Ordinary shares 302,976,018 54.95% 302,976,018 54.95%
2. Domestically listed
248,360,567 45.05% 248,360,567 45.05%
foreign shares
III. Total shares 551,347,947 100.00% 551,347,947 100.00%
Reasons for share changed
□ Applicable √ Not applicable
Approval of share changed
□ Applicable √ Not applicable
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 preference shareholders
Total common shareholders at with voting rights recovered at
31,746 0
period-end end of reporting period (if
applicable) (see Note 8)
17
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Particulars about shares held above 5% by shareholders or top ten shareholders
Amount of Number of share
Proportion Number of Changes in Amount of
Nature of restrict pledged/frozen
Shareholders of shares shares held at reporting un-restrict
shareholder shares State of
held period-end period shares held Amount
held share
Shenzhen Guosheng
Domestic
Energy Investment
non-State-owned 11.52% 63,508,747 0 0 63,508,747
Development Co.,
legal person
Ltd.
Zhuorun Technology Foreign legal
5.91% 32,596,212 -7,097,610 0 32,596,212
Co., Ltd. person
Domestic nature
Zeng Ying 6,342,717 0 0 6,342,717
person
Specific account of
Domestic
property disposition
non-State-owned 0.97% 5,326,807 0 0 5,326,807
for bankruptcy
legal person
enterprise of CBC
CORE
PACIFIC-YAMAIC
Foreign legal
HI 0.94% 5,198,701 3,692,998 0 5,198,701
person
INTERNATIONAL
(H.K.) LIMITED
Jingchao Investment Foreign legal
0.84% 4,601,789 0 0 4,601,789
Co., Ltd. person
Domestic nature
Li Dongxuan 0.83% 4,548,425 0 4,548,425
person
Specific account of
Domestic
property disposition
non-State-owned 0.77% 4,230,337 0 0 4,230,337
for bankruptcy
legal person
enterprise of CBC
Domestic nature
Li Huili 0.71% 3,891,124 0 0 3,891,124
person
Domestic nature
Xu Hongbo 0.52% 2,847,519 395,600 0 2,847,519
person
Strategy investors or general corporate
becomes top 10 shareholders due to N/A
rights issued
Li Huili, the spouse of actual controller Ji Hanfei, holding B-share of the Company on behalf
Explanation on associated relationship
of Shenzhen Guosheng Energy Investment Development Co., Ltd., beyond that, the
among the aforesaid shareholders
Company has no idea of whether other circulated shareholders belong to concerted action
18
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
persons ruled in the Administration Norms for Information Disclosure of Change on
Shareholding of Shareholders of Listed 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 Investment
63,508,747 RMB common shares 63,508,747
Development Co., Ltd.
Zhuorun Technology Co., Ltd. 32,596,212 RMB common shares 32,596,212
Domestically listed
Zeng Ying 6,342,717 6,342,717
foreign shares
Specific account of property disposition
5,326,807 RMB common shares 5,326,807
for bankruptcy enterprise of CBC
CORE PACIFIC-YAMAICHI Domestically listed
5,198,701 5,198,701
INTERNATIONAL (H.K.) LIMITED foreign shares
Jingchao Investment Co., Ltd. 4,601,789 RMB common shares 4,601,789
Li Dongxuan 4,548,425 RMB common shares 4,548,425
Specific account of property disposition Domestically listed
4,230,337 4,230,337
for bankruptcy enterprise of CBC foreign shares
Domestically listed
Li Huili 3,891,124 3,891,124
foreign shares
Domestically listed
Xu Hongbo 2,847,519 2,847,519
foreign shares
Expiation on associated relationship or Li Huili, the spouse of actual controller Ji Hanfei, holding B-share of the Company on behalf
consistent actors within the top 10 of Shenzhen Guosheng Energy Investment Development Co., Ltd., beyond that, the
un-restrict shareholders and between Company has no idea of whether other circulated shareholders belong to concerted action
top 10 un-restrict shareholders and top persons ruled in the Administration Norms for Information Disclosure of Change on
10 shareholders Shareholding of Shareholders of Listed Companies.
Explanation on shareholders involving
N/A
margin business
Whether has a buy-back agreement dealing in reporting period
□Yes √No
The shareholders o f the Company had no buy-back agreement dealing in reporting period.
III. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of controlling shareholders had no change in reporting period.
Changes of actual controller in reporting period
19
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
IV. Share holding increasing plan proposed or implemented in reporting period from
shareholder of the Company and its concerted action person
□ Applicable √Not applicable
As far as the Company knows, there are no share holding increasing plan proposed or implemented in Period from shareholder of the
Company and its concerted action person.
20
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section VII. Preferred Stock
I. Issuance and listing of preferred stock in Period
□ Applicable √ Not applicable
II. Number of shareholders with preferred stock held and shareholdings
□ Applicable √ Not applicable
III. Repurchase and conversion of preferred stock
1. Preferred stock repurchased
□ Applicable √ Not applicable
2. Preferred stock converted
□ Applicable √ Not applicable
IV. Preferred stock with voting rights recovered and executed
□ Applicable √ Not applicable
V. Accounting policy taken for preferred stock and reasons
□ Applicable √ Not applicable
21
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section VIII. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
√ Applicable □ Not applicable
Increasing Decreasing Restricted Restricted
Shares Shares
shares held shares held shares shares Restricted shares
Working held at held at
Title in this in this awarded at awarded in awarded at period-end
Name status period-beg period-end
period period period-beg the period (Share)
in (Share) (Share)
(Share) (Share) in (Share) (Share)
Zheng Currently
Zhonghua Supervisor 10,976 0 2,700 8,276 8,232 0 8,232
n in office
Total -- -- 10,976 0 2,700 8,276 8,232 0 8,232
II. Changes of directors, supervisors and senior executives
√ Applicable □ Not applicable
Name Title Type Date Reason
Convener of The 7th session of supervisory committee expired and
Li Xiang Be elected 2014-06-27
supervisors elected the 8th session of supervisory committee
The 7th session of supervisory committee expired and
Li Jialin Staff Supervisor Be elected 2014-05-22
elected the 8th session of supervisory committee
Convener of Leaving
Xiao Yan 2014-06-27 Leaving end-of-tour
supervisors end-of-tour
Leaving
Tao Hualiang Staff Supervisor 2014-06-27 Leaving end-of-tour
end-of-tour
22
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section IX. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
Units in Notes of Financial Statements is RMB
1. Consolidated balance sheet
Prepared by SHENZHEN CHINA BICYCLE COMPANY (HOLDINGS) LIMITED
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 29,360,708.21 26,834,171.59
Settlement funds
Lending funds
Tradable financial assets
Notes receivable 9,814,204.40
Accounts receivable 2,207,762.11 7,060,251.28
Prepayments 943,983.29 177,636.49
Premium receivable
Reinsurance accounts receivable
Reinsurance contract reserve
receivable
Interest receivable
Dividend receivable
Other account receivable 560,467.78 107,395,429.69
Buying back the sale of financial assets
Inventory 22,846,440.68 4,545,116.43
Non-current assets due within one year
Other current assets
Total current assets 65,733,566.47 146,012,605.48
23
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Non-current assets:
Issuance of loans and advances
Financial assets available for Sale
Held-to-maturity investment
Long-term receivables
Long term equity investment
Investment real estate
Fixed asset 452,133.85 227,824.37
Project in progress
Project materials
Liquidation of fixed asset
Productive biological asset
Oil and gas asset
Intangible asset 4,894,500.00 5,271,000.00
Development expenditure
Goodwill
Long-term deferred expenditure
Deferred income tax asset
Other non-current asset
Total non-current asset 5,346,633.85 5,498,824.37
Total Assets 71,080,200.32 151,511,429.85
Current Liabilities:
Short-term borrowing
Borrowing from the central bank
Deposits and interbank deposit
Borrowed capital
Transaction financial liabilities
Notes payable
Accounts payable 25,020,457.21 9,935,720.73
Account received in advance 6,027,223.64 3,627,323.31
Financial assets sold for repurchase
Fees and commissions payable
Salary payable 1,421,254.92 1,516,624.17
Taxes payable 1,731,786.24 93,778,253.57
24
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Interest payable
Dividend payable
Other payables 26,819,638.25 34,954,734.89
Reinsurance payables
Reserves for insurance contracts
Agency securities trading
Agency securities underwriting
Non-current liabilities due within one
year
Other current liabilities
Total current liabilities 61,020,360.26 143,812,656.67
Non-current liabilities
Long-term loans
Bonds payable
Long-term payables
Special payables
Accrued liabilities
Deferred income tax liability
Other non-current liability
Total non-current liability
Total liability 61,020,360.26 143,812,656.67
Owners’ equity (or Shareholder’s
equity):
Paid-in capital(share capital) 551,347,947.00 551,347,947.00
Capital surplus 627,819,910.12 627,819,910.12
Less: treasury stock
Special reserve
Surplus reserve 32,673,227.01 32,673,227.01
Reserve for general risks
Retained profit -1,202,963,099.27 -1,204,837,748.73
Converted difference in foreign
currency Statements
Total owner’s equity attributable to
8,877,984.86 7,003,335.40
parent company
Interest of minority shareholders 1,181,855.20 695,437.78
25
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Total owners’ equity (or shareholders
10,059,840.06 7,698,773.18
equity)
Total liabilities and owners’ equity (or
71,080,200.32 151,511,429.85
shareholders equity)
Legal Representative: Luo Guiyou Person in Charge of Accounting: Li Hai
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 1,089,776.09 1,080,836.82
Tradable financial assets
Notes receivable
Accounts receivable 292,106.00 245,382.00
Prepayments
Interest receivable
Dividend receivable
Other account receivable 17,419,137.07 116,990,372.76
Inventory
Non-current assets due within one year
Other current assets
Total current assets 18,801,019.16 118,316,591.58
Non-current assets:
Financial assets available for Sale
Held-to-maturity investment
Long-term receivables
Long term equity investment 10,379.73 10,379.73
Investment real estate
Fixed assets 416,984.30 109,020.00
Project in progress
Project materials
Liquidation of fixed assets
26
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Productive biological asset
Oil and gas asset
Intangible assets 4,894,500.00 5,271,000.00
Development expenditure
Goodwill
Long-term deferred expenditure
Deferred income tax asset
Other non-current assets
Total non-current assets 5,321,864.03 5,390,399.73
Total assets 24,122,883.19 123,706,991.31
Current liabilities:
Short-term borrowing
Transaction financial liabilities
Notes payable
Accounts payable
Account received in advance
Salary payable 21,077.84 6,847.09
Taxes payable -37,878.16 92,205,392.56
Interest payable
Dividend payable
Others payables 18,008,981.04 26,103,724.68
Non-current liabilities due within one
year
Other current liabilities
Total current liabilities 17,992,180.72 118,315,964.33
Non- current liabilities:
Long-term loans
Bonds payable
Long-term payables
Special payables
Accrued liabilities
Deferred income tax liability
Other non-current liability
Total non-current liability
27
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Total liabilities 17,992,180.72 118,315,964.33
Owners’ equity (or Shareholder’s
equity):
Paid-in capital(share capital) 551,347,947.00 551,347,947.00
Capital surplus 627,819,910.12 627,819,910.12
Less: treasury stock
Special reserve
Surplus reserve 32,673,227.01 32,673,227.01
Reserve for general risks
Retained profit -1,205,710,381.66 -1,206,450,057.15
Converted difference in foreign
currency
Total owners’ equity (or shareholders
6,130,702.47 5,391,026.98
equity)
Total liabilities and owners’ equity (or
24,122,883.19 123,706,991.31
shareholders equity)
Legal Representative: Luo Guiyou Person in Charge of Accounting: Li Hai
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 85,666,634.40 104,903,520.59
Including: Operating revenue 85,666,634.40 104,903,520.59
Interest income
Earned premium
Fee and commission income
II Total Operating cost 87,395,185.64 134,225,562.75
Including: Operating costs 80,326,800.62 92,139,173.51
Interest costs
Fee and commission costs
Cash surrender
Net compensation expenses
28
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Net extraction reserves for insurance
contracts
Policy dividend payout
Reinsurance expense
Business tax and surcharge 245,931.44 185,939.59
Sales expenses 1,856,602.82 3,589,369.24
Administrative expenses 5,077,370.04 38,509,731.68
Financial expenses -98,274.42 -198,651.27
Asset impairment losses -13,244.86
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 with
-1,728,551.24 -29,322,042.16
―-‖)
Add: Non-operating income 4,902,358.37 66,345.00
Less: Non-operating expenditure 23,054.00 25,290.00
Including: Disposal loss on non-current
liability
IV Total profits (Total loss is listed with
3,150,753.13 -29,280,987.16
―-‖)
Less: Income tax expenses 789,686.25
V. Net profit (Net loss is listed with ―-‖) 2,361,066.88 -29,280,987.16
Including: Net profit generated by
combined party before merged
Net profit attribute to owners of parent
1,874,649.46 -29,283,608.20
company
Minority interest 486,417.42 2,621.04
VI. Earnings per share(EPS) -- --
(i) Basic Earnings per share(EPS) 0.0034 -0.0531
(ii) Diluted Earnings per share(EPS) 0.0034 -0.0531
VII. Other consolidated income
29
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
VIII. Total consolidated income 2,361,066.88 -29,280,987.16
Total consolidated income attributable
1,874,649.46 -29,283,608.20
to owners of parent company
Total consolidated income attributable
486,417.42 2,621.04
to minority shareholders
Legal Representative: Luo Guiyou Person in Charge of Accounting: Li Hai
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 3,703,766.10 13,529,519.88
Less: Operating costs 2,536,032.31 4,562,602.46
Business tax and surcharge 192,196.65
Sales expenses
Administrative expenses 4,731,814.61 37,950,216.66
Financial expenses 1,132.90 -102,659.42
Asset impairment losses 1,356.41
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 with
-3,758,766.78 -28,880,639.82
―-‖)
Add: Non-operating income 4,762,626.91 1,245.00
Less: Non-operating expenditure 17,174.00 25,290.00
Including: Disposal loss on
non-current liability
III. Total profit (Loss is listed with ―-‖) 986,686.13 -28,904,684.82
Less: Income tax expenses 247,010.64
IV. Net profit (net loss is listed with ―-‖) 739,675.49 -28,904,684.82
V. Earnings per share(EPS): -- --
(i) Basic Earnings per share(EPS) 0.0013 -0.0524
(ii) Diluted Earnings per share(EPS) 0.0013 -0.0524
30
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
VI. Other consolidated income
VII. Total consolidated income 739,675.49 -28,904,684.82
Legal Representative: Luo Guiyou Person in Charge of Accounting: Li Hai
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 43,219,779.00 60,803,029.90
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
Other cash received concerning
110,619,815.38 19,329,843.70
operating activities
Subtotal of cash inflow arising from
153,839,594.38 80,132,873.60
operating activities
Cash paid for purchasing commodities 42,938,795.58 53,975,862.67
31
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
and receiving labor service
Net increase of customer loans and
advances
Net increase of deposits in central bank
and interbank
Cash paid for original insurance
contract compensation
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 5,398,978.85 35,436,172.27
Taxes paid 93,668,033.13 2,778,235.49
Other cash paid concerning operating
9,087,945.93 8,499,083.25
activities
Subtotal of cash outflow arising from
151,093,753.49 100,689,353.68
operating activities
Net cash flows arising from operating
2,745,840.89 -20,556,480.08
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 100,500.00 32,000.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
100,500.00 32,000.00
activities
Cash paid for purchasing fixed,
319,804.27 4,429.06
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash paid for obtaining subsidiaries
and other units
32
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Other cash paid concerning investing
activities
Subtotal of cash outflow from investing
319,804.27 4,429.06
activities
Net cash flows arising from investing
-219,304.27 27,570.94
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
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
2,526,536.62 -20,528,909.14
equivalents
Add: Balance of cash and cash
26,834,171.59 52,395,360.86
equivalents at the period -begin
33
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
VI. Balance of cash and cash equivalents
29,360,708.21 31,866,451.72
at the period -end
Legal Representative: Luo Guiyou Person in Charge of Accounting: Li Hai
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
services
Write-back of tax received
Other cash received concerning
116,130,748.61 18,804,524.65
operating activities
Subtotal of cash inflow arising from
116,130,748.61 18,804,524.65
operating activities
Cash paid for purchasing commodities
and receiving labor service
Cash paid to/for staff and workers 3,769,818.64 32,536,140.33
Taxes paid 92,786,756.90 1,515,331.51
Other cash paid concerning operating
19,248,933.80 8,097,395.44
activities
Subtotal of cash outflow arising from
115,805,509.34 42,148,867.28
operating activities
Net cash flows arising from operating
325,239.27 -23,344,342.63
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
assets
Net cash received from disposal of
34
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
activities
Cash paid for purchasing fixed,
316,300.00
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
316,300.00
activities
Net cash flows arising from investing
-316,300.00
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
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
35
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
V. Net increase of cash and cash
8,939.27 -23,344,342.63
equivalents
Add: Balance of cash and cash
1,080,836.82 31,432,888.50
equivalents at the period -begin
VI. Balance of cash and cash equivalents
1,089,776.09 8,088,545.87
at the period -end
Legal Representative: Luo Guiyou Person in Charge of Accounting: Li Hai
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 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
-1,204,8
551,347 627,819, 32,673, 695,437.7 7,698,773.
I. Balance at the end of last year 37,748.7
,947.00 910.12 227.01 8 18
3
Add: Changes of accounting
policy
Error correction of previous
period
Others
-1,204,8
II. Balance at the beginning of 551,347 627,819, 32,673, 695,437.7 7,698,773.
37,748.7
this year ,947.00 910.12 227.01 8 18
3
III. Increase/ Decrease in this 1,874,64 486,417.4 2,361,066.
year (Decrease is listed with'"-") 9.46 2 88
1,874,64 486,417.4 2,361,066.
(i) Net profit
9.46 2 88
(ii) Other consolidated income
1,874,64 486,417.4 2,361,066.
Subtotal of (i)and (ii)
9.46 2 88
(III) Owners' devoted and
decreased capital
36
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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
-1,202,9
IV. Balance at the end of the 551,347 627,819, 32,673, 1,181,855 10,059,840
63,099.2
report period ,947.00 910.12 227.01 .20 .06
7
Amount in last year
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
-2,780,0
551,347 486,589, 32,673, -1,709,390,
I. Balance at the end of last year 61,643.6 60,572.65
,947.00 213.20 227.01 683.76
2
37
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Add: retroactive adjustment
arising from enterprise
consolidation under the same
control
Add: Changes of accounting
policy
Error correction of previous
period
Other
-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
141,230, 1,575,22 634,865.1 1,717,089,
year (Decrease is listed
696.92 3,894.89 3 456.94
with’‖-‖)
1,575,22 634,865.1 1,575,858,
(i) Net profit
3,894.89 3 760.02
(II) Other consolidated income
1,575,22 634,865.1 1,575,858,
Subtotal of (i)and (ii)
3,894.89 3 760.02
(III) Owners’ devoted and 141,230, 141,230,69
decreased capital 696.92 6.92
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
141,230, 141,230,69
3. Others
696.92 6.92
(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
38
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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
-1,204,8
IV. Balance at the end of the 551,347 627,819, 32,673, 695,437.7 7,698,773.
37,748.7
report period ,947.00 910.12 227.01 8 18
3
Legal Representative: Luo Guiyou Person in Charge of Accounting: Li Hai
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 for Total
Items Capital Special Surplus Retained
capital(sha treasury general owners’
surplus reserve reserve profit
re capital) stock risks equity
551,347,94 627,819,91 32,673,227 -1,206,450, 5,391,026.
I. Balance at the end of last year
7.00 0.12 .01 057.15 98
Add: Changes of accounting
policy
Error correction of previous
period
Other
II. Balance at the beginning of 551,347,94 627,819,91 32,673,227 -1,206,450, 5,391,026.
this year 7.00 0.12 .01 057.15 98
III. Increase/ Decrease in this
739,675.49 739,675.49
year (Decrease is listed with’‖-‖)
(i) Net profit 739,675.49 739,675.49
(II) Other consolidated income
Subtotal of (i)and (ii) 739,675.49 739,675.49
39
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(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
IV. Balance at the end of the 551,347,94 627,819,91 32,673,227 -1,205,710, 6,130,702.
report period 7.00 0.12 .01 381.66 47
Amount in last year
In RMB
Amount in last yea
Paid-in Less: Reserve for Total
Item Capital Special Surplus Retained
capital(sha treasury 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
40
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
policy
Error correction of 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 year 141,230,69 1,501,143, 1,642,374,
(Decrease is listed with’‖-‖) 6.92 591.24 288.16
1,501,143, 1,501,143,
(i) Net profit
591.24 591.24
(II) Other consolidated income
1,501,143, 1,501,143,
Subtotal of (i)and (ii)
591.24 591.24
(III) Owners’ devoted and 141,230,69 141,230,69
decreased capital 6.92 6.92
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
141,230,69 141,230,69
3. Others
6.92 6.92
(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
41
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the 551,347,94 627,819,91 32,673,227 -1,206,450, 5,391,026.
report period 7.00 0.12 .01 057.15 98
Legal Representative: Luo Guiyou Person in Charge of Accounting: Li Hai
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.
The Company offering accumulative shares of 551,347,947 shares in total up to 30 June 2014.
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 issued by Financial Department on 15 February 2006 and
―Item 38‖-Details of Accounting Standard, and Application Guide of Accounting Standard for Enterprise issued
42
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
subsequently, the Accounting Standard for Enterprise—Explanation and other relevant regulations to prepare
financial statements.
Accounting records of the Company is based on accrual basis in line with relevant regulations of Accounting
Standards for Enterprise. Except for some financial instruments, the financial statement is calculated based on
historical cost.
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, operation achievement and cash flows.
3. Accounting Period
The company adopts Gregorian calendar as accounting period, namely form each 1 January to 31 December.
4. Standard Accounting Currency
The Company adopts Renminbi as the standard accounting currency.
5. Accounting Treatment Method for Business Combinations
(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
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
43
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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. Relevant specific accounting policy for equity disposal on step-by-step basis to lose control
(1) A principle of judgment of “Package Deal”
Nil
(2) Accounting method for “Package Deal”
Nil
(3) Accounting method for Non “Package Deal”
Nil
7. Preparation method of consolidated financial statement
(1)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
44
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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.
8. 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.
9. 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‖.
45
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
10. 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 financial instrument
Financial assets and financial liabilities of the Company are divided into the following 5 groups at the initial
recognition: financial assets and financial liabilities at fair value through current profits and losses, held-to-maturity
investment, account receivables, financial assets available for sale and other financial liabilities.
(2) Realization basis and measurement method
(1) Realization and de-realization 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-realized 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 derealization condition in respect of financial
assets transfer.
Where the prevailing obligations of the financial liabilities are released in whole or in part, the financial liabilities
shall be de-realized or only part of it.
(2) Measurement for financial assets/liability
Financial assets and financial liabilities are measured at fair value at initial recognition. As for financial assets and
financial liabilities at fair value through current profits and losses, the related transaction expenses are recorded in
current profits and losses directly, and the related transaction expenses of other financial assets and financial
liabilities are recorded in their initial recognition amounts.
①financial assets and financial liabilities at fair value through current profits and losses
Financial assets and financial liabilities at fair value through current profits and losses comprise of transactional
financial assets or financial liabilities and those which are directly designated as financial assets and financial
liabilities at fair value through current profits and losses. transactional financial assets mainly represent the stocks,
bonds, funds and derivatives not use as effective hedge instrument held for disposal in a short term or financial
liabilities assumed due to recent repurchase. Those which are directly designated as financial assets and financial
liabilities at fair value through current profits and losses are mainly designated by the Company based on the
requirements for risk management and strategy investment.
This kind of financial assets and financial liabilities are subsequently measured at fair value. In addition to be used
as effective hedge instruments, all realized and unrealized profits and losses of this kind of financial assets and
financial liabilities are recorded in current profits and losses.
46
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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
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 derealization shall be recorded in current profit and loss.
(3) Realization basis and measurement method for transfer of financial assets
① The 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.
47
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
②If the derealization 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 derealization 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
Only when present obligations under financial liability have been released entirely or partly, could cease recognition
of such financial liability or part thereof.
(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 and method for impairment provision for financial assets (excluding account
receivables)
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
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
48
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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. Where the fair value of single financial assets available for sales drops significantly or not
contemporarily, the financial assets available for sale is deemed to be impaired and provision for impairment loss,
the impairment loss shall be realized. Drops significantly means the fair value less than 50% of the cost price, and
with over one-year continued; drops not contemporarily means the fair value less than 80% of the cost price with
over three-year continued. 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.
Recognition standards for vary impairment of financial assets available for sale
①held-to-maturity investment
Impairment losses are calculated based on the difference between the carrying value and the present value of
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. Where the fair value of single financial assets available for sales drops significantly or not
contemporarily, the financial assets available for sale is deemed to be impaired and provision for impairment loss,
the impairment loss shall be realized. Drops significantly means the fair value less than 50% of the cost price, and
49
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
with over one-year continued; drops not contemporarily means the fair value less than 80% of the cost price with
over three-year continued. 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,
explain the holding purposes or references for change of ability
Nil
11. Recognition standards and accrual method for bad debt provision for accounts receivable
Account receivables including receivables and other receivables
(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:
Methods on withdrawal of
Combination bad debt provision based on Basis for combination recognized
combination
Age group—account receivable determined the impairment losses and bad debt provision accrued
with same book age owns similar Age analysis method by age and regulated withdrawal proportion of the account
characteristic in credit risk receivable
Adopt age analysis method for bad debt provision withdrawal in combination:
√ Applicable□ Not applicable
Age Accrued ratio for account receivable Accrued ratio for other account receivable
Within I year (1 year included) 0.30% 0.30%
50
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
1－2 years 0.30% 0.30%
2－3 years 0.30% 0.30%
Over 3 years 100.00% 100.00%
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
12. 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, wrap page, low value consumables, materials for consigned processing and goods sold.
(2)Valuing of the delivered inventory
Valuation methods: Weighted average
Adopts actual cost for vary inventory obtained 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 for inventory
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.
(5) Amortization method for the low-value consumables and wrappage
51
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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.
13. Long-term equity investment
(1)Determination of investment cost
①long term equity investment acquired through business combination under the same control: As for the long term
equity investment acquired through business combination under the same control, share of the carrying value of net
assets of the acquiree as at the combination date adjusted according to the accounting policies of the Company is
deemed as the initial investment cost. ②long term equity investment acquired through business combination not
under the same control: As for the long term equity investment acquired through business combination not under the
same control, combination cost determined on the acquisition date shall be deemed as initial investment cost. In case
that business combination not under the same control is realized through several transactions step by step, the sum
between the carrying value of the equity investment held in the acquiree before the acquisition date and the new
investment cost as at the acquisition date shall be deemed as initial investment cost. ③long term equity investment
acquired by other means: As for the long term equity investment by cash payment, the purchase amount actually
paid shall be deemed as initial investment cost. As for the long term equity investment by issuance of equity
securities, the fair value of the equity securities issued (excluding the declared while not granted cash dividends or
profits received from investee) shall be deemed as initial investment cost. As for the long term equity investment
made by investor, the value as agreed by investment contract or agreement shall be deemed as initial investment cost,
provided that the value as agreed by contract or agreement shall be fair. 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 initial investment cost of the long term equity investment acquired 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
initial investment cost of the long term equity investment acquired. As for long term equity investment acquired
through debt reorganization, its initial investment cost is determined based on fair value.
(2)Subsequent reckoning as well as profits and loss determination method
Investments in subsidiaries and long term equity investment in investee which the Company has no common control
or significant influences and no quotation in active market and for which the fair value can’t be measured reliably
are calculated at cost method. Long term equity investment in investee which the Company has common control or
significant influences is calculated at equity method.
52
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
When calculating long term equity investment at equity method:
① If the initial investment cost of long term equity investment is greater than the share of fair value of the net
identifiable assets of investee upon investment, the initial investment cost of long term equity investment shall not
be adjusted; If the initial investment cost of long term equity investment is lesser than the share of fair value of the
net identifiable assets of investee upon investment, the difference shall be recorded in current profit and loss and
meanwhile cost of long term equity investment shall be adjusted.
② Upon acquisition of long term equity investment, the Company shall confirm investment profit or loss and
adjust the carrying value of long term equity investment based on the proportion of the net profit and loss realized by
the investee it shall share or assume. Confirmation for the proportion of the net profit and loss realized by the
investee it shall share or assume is based on the fair value of the various identifiable assets of the investee upon
acquisition of the investment with offset of the unrealized profit and loss of the internal transactions with associates
and joint ventures attributable to the Company based on its shareholding proportion (if the unrealized internal
transaction loss belongs to assets impairment loss, it shall confirm in full) and adjustment to the net profit of the
investee under the accounting policies and accounting periods of the Company.
③confirmation of net loss in investee shall be within the limit of zero of the carrying value of long term equity
investment and other long term equity which substantially constitutes net investment in investee, while except for
the obligations to assume additional losses as agreed in contract or agreement. If investee realizes net profit in future,
the Company would resume confirmation of income shares after the compensation of unrealized loss shares with its
income shares.
④carrying value of long term equity investment shall be offset accordingly with the attributable profit or cash
dividends declared by investee.
⑤as for other changes in owners’ equity (other than net profit and loss) of the investee, the Company calculates the
part it should share or assume according to the shareholding proportion provided that such proportion remains
unchanged, adjusts carrying value of the long term equity investment and increases or decreases capital reserve
accordingly.
If the investee is still an associate or joint venture of the Company after reduction of the shareholding proportion, the
Company will continue to calculate the remaining investment at equity method, and carry forward the gains or
losses previously realized in other comprehensive income (capital reserve) to current profit and loss at the same
proportion as it disposes the investment.
If the investee is still an associate or joint venture of the Company after increase of the shareholding proportion, the
Company will continue to calculate the investment at equity method under the new shareholding proportion. On the
new investment date, the difference between the new investment cost and the share of fair value of net identifiable
assets of investee as calculated under the new shareholding proportion shall be treated according to the aforesaid
principle; the difference between the original carrying value of the long term equity investment upon acquisition of
new investment and the share of fair value of net identifiable assets of investee as calculated at the shareholding
proportion (namely the shareholding proportion after investment increase less the new additional shareholding
proportion) shall be used to adjust the carrying value of long term equity investment and capital reserve.
53
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(3)The basis for the co-control over and material influence on the invested unit
① Judgment 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.
② Judgment 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.
(4)Depreciation test method and depreciation allowance
As for the long-term equity investment for subsidiary, joint ventures and affiliated enterprise, impairment provision
should be as follow: (1) the Company judges on balance sheet date whether there exist indication for impairment of
assets. If such indication exists, the Company would estimate its recoverable amount and conduct impairment test.
As for the goodwill arising from business combination, intangible assets with indefinite use life and intangible
assets for which the condition for planned use is not satisfied, whether h\there is impairment indication, impairment
test shall be conducted every year. (2) Recoverable amount is determined at the higher of the asset fair value less
disposal expenses and the present value of the assets predicted future cash flow. The Company estimates the
recoverable amount based on single asset. If it is hard to estimate the recoverable amount of single asset, the
Company estimates the recoverable amount of the assets group where such single asset belongs to. (3)
Determination of assets group is based on whether the major cash inflow from one asset group is independent from
the cash inflow from other assets or assets group. When the recoverable amount of assets or assets group is lesser
than its carrying value, the Company would reduce the carrying value to recoverable amount, with the reduced
amount recorded in current profit and loss, and asset impairment reserve shall be provided accordingly. (4) Once
realized, asset impairment losses would not be transferred back in future account periods. As for the long term
equity investment by which the Company has no common control or significant influence over the investee, and
where there is no quotation in active market and whose fair value can not be measured reliably, Impairment losses
are calculated based on the difference between the carrying value and the present value of 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
54
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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.
14. Investment real estate
Investment real estate refers to the real properties for the purpose of rental or value increase or both. Investment real
estate of the Company including rented land use right, land use right on hand and ready for transfer after
appreciation and rented buildings.
The Company initiated the investment real estate on the cost while obtained, and accrual depreciation or
amortization by period based on relevant regulation of fixed assets or intangible assets.
For the investment real estate adopting subsequent measures for cost mode, as for impairment, the follow measures
should be taken:
(1) The Company judges on balance sheet date whether there exist indication for impairment of assets. If such
indication exists, the Company would estimate its recoverable amount and conduct impairment test. As for the
goodwill arising from business combination, intangible assets with indefinite use life and intangible assets for which
the condition for planned use is not satisfied, whether h\there is impairment indication, impairment test shall be
conducted every year.
(2) Recoverable amount is determined at the higher of the asset fair value less disposal expenses and the present
value of the assets predicted future cash flow. The Company estimates the recoverable amount based on single asset.
If it is hard to estimate the recoverable amount of single asset, the Company estimates the recoverable amount of the
assets group where such single asset belongs to.
(3) Determination of assets group is based on whether the major cash inflow from one asset group is independent
from the cash inflow from other assets or assets group. When the recoverable amount of assets or assets group is
lesser than its carrying value, the Company would reduce the carrying value to recoverable amount, with the
reduced amount recorded in current profit and loss, and asset impairment reserve shall be provided accordingly.
(4) Once realized, asset impairment losses would not be transferred back in future account periods.
15. 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) Determination and evaluation method for fixed assets financed by leasing
The lesser of the fair value of leased assets and present value of the minimum lease payment is taken as the
accounting value of the leased assets on the starting date of the lease. As for the fixed assets leased under financing
55
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
lease, if it is reasonable to confirm that the Company can acquire the ownership of the leased assets upon expiration
of the lease term, the Company provides depreciation of the leased assets within the useful period; if the ownership
can not be confirmed, depreciation shall be provided at the lesser of the lease term and the useful period of the leased
assets.
(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:
Categories Years of depreciation(years) Scrap value rate Yearly depreciation rate
Housing buildings 20 10.00% 4.5%
Machines equipment 10 10.00% 9%
Electronic equipment 5 10.00% 18%
Transportation equipment 5 10.00% 18%
(4) Depreciation test method and depreciation allowance method for fixed assets
(1) The Company judges on balance sheet date whether there exist indication for impairment of assets. If such
indication exists, the Company would estimate its recoverable amount and conduct impairment test. As for the
goodwill arising from business combination, intangible assets with indefinite use life and intangible assets for which
the condition for planned use is not satisfied, whether h\there is impairment indication, impairment test shall be
conducted every year.
(2) Recoverable amount is determined at the higher of the asset fair value less disposal expenses and the present
value of the assets predicted future cash flow. The Company estimates the recoverable amount based on single asset.
If it is hard to estimate the recoverable amount of single asset, the Company estimates the recoverable amount of the
assets group where such single asset belongs to.
(3) Determination of assets group is based on whether the major cash inflow from one asset group is independent
from the cash inflow from other assets or assets group. When the recoverable amount of assets or assets group is
lesser than its carrying value, the Company would reduce the carrying value to recoverable amount, with the
reduced amount recorded in current profit and loss, and asset impairment reserve shall be provided accordingly.
(4) Once realized, asset impairment losses would not be transferred back in future account periods.
(5) Other explanation
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
56
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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.
16. Project under Construction
(1) Classification of project under Construction
The construction in progress is measured based on actual cost and calculated based on different projects.
(2) Standard and timing of converting projects under construction into fixed assets
When construction in progress reaches condition for planned use, it shall be carried forward to fixed assets based on
all actual occurrences of expenditures for calculation. If construction in progress reaches condition for planned use
while completion settlement has not been proceeded, it shall be transferred to fixed assets at the estimated value
based on project budget, construction fee or actual cost since the date when condition for planned use is reached.
Meanwhile, the Company would provide fixed assets depreciation according to its depreciation policies. After
proceed of such completion settlement, the Company would adjust the previously estimated value based on actual
cost, with no adjustment to the previous provision of depreciation.
(3) Recognition standards and accrual method of impairment provision for construction in process:
Take the follow measures while impairment:
(1)the Company judges on balance sheet date whether there exist indication for impairment of assets. If such
indication exists, the Company would estimate its recoverable amount and conduct impairment test. As for the
goodwill arising from business combination, intangible assets with indefinite use life and intangible assets for which
the condition for planned use is not satisfied, whether h\there is impairment indication, impairment test shall be
conducted every year.
(2)recoverable amount is determined at the higher of the asset fair value less disposal expenses and the present value
of the assets predicted future cash flow. The Company estimates the recoverable amount based on single asset. If it
is hard to estimate the recoverable amount of single asset, the Company estimates the recoverable amount of the
assets group where such single asset belongs to.
(3)determination of assets group is based on whether the major cash inflow from one asset group is independent
from the cash inflow from other assets or assets group. When the recoverable amount of assets or assets group is
lesser than its carrying value, the Company would reduce the carrying value to recoverable amount, with the
reduced amount recorded in current profit and loss, and asset impairment reserve shall be provided accordingly.
(4)once realized, asset impairment losses would not be transferred back in future account periods.
57
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
17. Borrowing Costs
(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
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) Suspend capitalization period
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
58
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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 multiplies 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.
18. Biological assets
Biological assets refer to living animals and plants.
Biological assets are classified into consumptive biological assets, productive biological assets and public welfare
biological assets.
Consumptive biological asset is the biological assets that held for sale or harvested as agricultural products in the
future, including growing field crops, vegetables for timber as well as the amount of livestock for sale and so on
Productive biological assets refer to the biological assets held for agricultural products output, labor service
providing or for renting, including economic forest firewood forests productive livestock and draught animals, etc.
Public welfare biological assets refers to the biological assets aims at protection and enviornment protection,
including shelter forests against wind and for fixing sands, soil and water conservation forest and water conservation
forest etc.
(1)the Company judges on balance sheet date whether there exist indication for impairment of assets. If such
indication exists, the Company would estimate its recoverable amount and conduct impairment test. As for the
goodwill arising from business combination, intangible assets with indefinite use life and intangible assets for which
the condition for planned use is not satisfied, whether h\there is impairment indication, impairment test shall be
conducted every year.
(2)recoverable amount is determined at the higher of the asset fair value less disposal expenses and the present value
of the assets predicted future cash flow. The Company estimates the recoverable amount based on single asset. If it
is hard to estimate the recoverable amount of single asset, the Company estimates the recoverable amount of the
assets group where such single asset belongs to.
(3)determination of assets group is based on whether the major cash inflow from one asset group is independent
from the cash inflow from other assets or assets group. When the recoverable amount of assets or assets group is
lesser than its carrying value, the Company would reduce the carrying value to recoverable amount, with the
reduced amount recorded in current profit and loss, and asset impairment reserve shall be provided accordingly.
(4)once realized, asset impairment losses would not be transferred back in future account periods.
59
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
19. Oil/gas assets
Nil
20. Intangible Assets
(1)Valuation method for 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) Service life estimation for intangible assets with limited service life
The Company analyzes and judges the use life of the intangible assets upon acquisition. If the use life of intangible
assets is definite, the Company estimates the term of such use life or quantity of measurement unit such as
production capacity that constitutes use life.
Item Service life expected Basis
Trademark Remaining time In line with the term in Trade Mark License
(3) Determination basis for intangible assets with uncertain service life
The Company analyzes and judges the use life of the intangible assets upon acquisition. For intangible assets for
which the term to bring economic benefit to the Company is unpredictable, the intangible assets are deemed as those
with indefinite use life.
(4) Withdrawal of impairment of intangible assets
(1)the Company judges on balance sheet date whether there exist indication for impairment of assets. If such
indication exists, the Company would estimate its recoverable amount and conduct impairment test. As for the
goodwill arising from business combination, intangible assets with indefinite use life and intangible assets for which
the condition for planned use is not satisfied, whether h\there is impairment indication, impairment test shall be
conducted every year.
(2)recoverable amount is determined at the higher of the asset fair value less disposal expenses and the present value
of the assets predicted future cash flow. The Company estimates the recoverable amount based on single asset. If it
is hard to estimate the recoverable amount of single asset, the Company estimates the recoverable amount of the
assets group where such single asset belongs to.
(3)determination of assets group is based on whether the major cash inflow from one asset group is independent
from the cash inflow from other assets or assets group. When the recoverable amount of assets or assets group is
60
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
lesser than its carrying value, the Company would reduce the carrying value to recoverable amount, with the
reduced amount recorded in current profit and loss, and asset impairment reserve shall be provided accordingly.
(4)once realized, asset impairment losses would not be transferred back in future account periods.
(5) Divide the specific standards research stage and development stage
(6) Calculation of expenditure for internal R&D projects
21. 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.
22. Assets transfer with repurchase condition attached
Nil
23. Accrued Liabilities
(1) Recognition standards
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.
(2) Measurement method
(1) Predicted 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.
61
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(2) Oil and gas assets disposal obligations satisfying confirmation condition for predicted liabilities are confirmed as
predicted 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 predicted 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.
24. 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
25. Shares of the Company repurchased
Nil
26. Revenue
(1) Detail judgment standards for recognition of selling goods revenue
Income 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) Recognition of revenue of assets using right abalienation
In case that the economic benefits related to transactions are probable to flow into the Company and amount of
income can be measured reliably, the income from transfer of asset use right is determined as follows:
①interest income 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 income shall be determined based on the charge time and method as agreed by the relevant contract or
agreement.
(3) Basis of recognition of labor revenue 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
62
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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
Nil
27. Government Grants
(1) Types
Government grants comprise of those related to assets and those related to income.
(2) Accounting policy
(1) Confirmation and measurement of government grants
Government grants are realized where the conditions enclosed with the government grants is 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.
28. Deferred tax assets / deferred income tax liabilities
(1) Basis of affirming the 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
63
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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.
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.
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.
On balance sheet date, as for deferred income tax assets and deferred income tax liabilities, the Company measures
the assets and liabilities at the tax rate applicable in the period when the assets are recovered or the liabilities are
settled. Meanwhile, the measurements shall reflect the income tax effects from the methods of recovering assets or
settling liabilities as at balance sheet date.
The Company reviews carrying value of deferred income tax assets on balance sheet date. If it is not probable to
obtain sufficient taxable income in future periods to offset the benefits of deferred income tax assets, the carrying
value of deferred income tax assets shall be reduced, with the reduction amount recorded in current income tax
expenses. As for the deferred income tax assets previously recorded in owners’ equity upon realization, the
reduction amount shall also be recorded in owners’ equity. When it is probable to obtain sufficient taxable income
tax, the reduced carrying value of deferred income tax assets can be resumed.
(2) Recognition basis for deferred income tax liability
According to the temporary differences between the carrying value of assets and liabilities as at the balance sheet
64
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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.
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.
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.
On balance sheet date, as for deferred income tax assets and deferred income tax liabilities, the Company measures
the assets and liabilities at the tax rate applicable in the period when the assets are recovered or the liabilities are
settled. Meanwhile, the measurements shall reflect the income tax effects from the methods of recovering assets or
settling liabilities as at balance sheet date.
The Company reviews carrying value of deferred income tax assets on balance sheet date. If it is not probable to
obtain sufficient taxable income in future periods to offset the benefits of deferred income tax assets, the carrying
value of deferred income tax assets shall be reduced, with the reduction amount recorded in current income tax
expenses. As for the deferred income tax assets previously recorded in owners’ equity upon realization, the
reduction amount shall also be recorded in owners’ equity. When it is probable to obtain sufficient taxable income
tax, the reduced carrying value of deferred income tax assets can be resumed.
65
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
29. Operating lease/ Finance lease
(1) Accounting treatment for operating 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.
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 for finance 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 for leaseback
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.
66
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
30. Assets held for sale
(1) Recognition standards
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 and iii. The transfer would be completed within one year.
(2) Accounting method
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.
31. Assets securitization
Nil
32. Hedge accounting
Nil
33. Changes of major accounting policies and accounting estimation
Whether there have changes of major accounting policies and accounting estimation in report period or not
□ Yes √ No
Accounting policies and accounting estimation has no changed in reporting period
(1) Changes in accounting policies
Whether have changes in accounting policies in report period
□ Yes √ No
(2) Changes in accounting estimates
Whether have changes in accounting estimates in report period
□ Yes √ No
34. Error correction of previous accounting
Whether has error correction of previous accounting occurred in this period
□ Yes √ No
Nil
67
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(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
35. Other major accounting policy, accounting estimation and preparation method for financial statement
There is no other major accounting policy, accounting estimation and preparation method for financial statement
in the Period
V. Taxes
1. Mai tax category and tax rate
Tax category Tax calculation evidence Tax rate
Sales income, and income from
processing, maintenance, making repairs
Value added tax 17%
and supplying replacements, and labor
service
Sales tax Taxable labor income 5%
Amount of value-added tax and sales tax
Tax for maintaining and building cities 7%
payable
Business 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%
The income tax rates applicable to each Branch Company or plant
Nil
2. Tax preference and approvals
Nil
3. Other explanation
Nil
68
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
VI. Business Combination and Consolidated Financial Statements
1. Subsidiaries
The Company has one subsidiary in the Period, that is Shenzhen Emmelle Industrial Co., Ltd.
(1) Subsidiaries obtained by means of establishment or investment
In RMB
The
balance
after the
parent
compan
y’s
owner’s
equity
writing
down
the
Balance
excess
of other of the
current
items Amount
Actual loss
in
actually underta
amount minority
Proporti Consoli ken by
Register forming Proporti Minorit interest
Registra invested on of dated minority
Full Natureof Busines on of used for
Type tion ed the net voting report y’s sharehol
name at shares writing
place business s scope power stateme ders of
capital investm held (%) equity down
period-e (%) nt or not the
minority
ent in subsidia
nd gain and
ry over
the loss
the
subsidia share
enjoyed
ries
by
minority
sharehol
ders in
the
original
owner’s
equity
of the
subsidia
ry
Shenzhe RMB 2 Bicycle
n
Emmell Controll million and
ing Shenzhe
e 70.00% 70.00% Y
subsidia n parts
Industri ry
al Co., distribut
Ltd.
ion
Other explanation on subsidiary obtained by establishment or investment:
The company is a limited liability enterprise, organization code is 72617897-5
69
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(2) Subsidiaries acquired by business combination under the common control
In RMB
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 interest sharehol
Sta
Name of Type of Register ent actually Holding Voting tements Minorit availabl ders of
Register Busines Busines combine
subsidia subsidia ed amount constitut proporti proportio y’s e to subsidia
ed place s nature s scope d (Y/N)
ry ry capital at es net on% n% equity offset ries over
period-e investm 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:
Nil
(3) Subsidiaries acquired by business combination not under the common control
In RMB
Actual Balance Holding Voting Sta Minorit Amount Balance
Name of Type of Registere Business Registere Business tements
investmen of other proportio proportion y’s in between
subsidiary subsidiary d place nature d capital scope combine
t amount items n% % d (Y/N) equity minority the
70
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
at which interest owners’
period-en actually available equity in
d constitute to offset parent
s net minority offsetting
investmen gains and the
t in losses current
subsidiari losses
es attributabl
e to
minority
sharehold
ers of
subsidiari
es over
the share
of
beginning
owner’s
equity in
such
subsidiari
es by the
minority
sharehold
ers
Other explanation on subsidiary obtained by enterprise merger not under the same control:
Nil
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 consolidated statement
Other explanation for special purposes entity or operation entity where controlling right is formed under entrusted operation or leasing:
Nil
3. Explanation on changes of consolidation scope
Explanation on changes of consolidation scope
Nil
□ 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
71
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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
Companies, special-purpose entity and operation entity with controlling rights formed through entrust operation or leasing excluded in
consolidation scope in the Period
In RMB
Net profit from the year-begin to the
Name Net assets as at the disposal date
disposal date
Other explanation on entities newly included in consolidation scope and entities ceasing to be included in consolidation scope:
Nil
5. Business combination under the common control during the reporting period
In RMB
Basis for Consolidated Consolidated
Consolidated net
determination of Actual controller income for the operating activities
profit from this
Party to be consolidated business under the common period from the cash flow from this
period to
combination under control period-begin to period to
consolidation date
the common control consolidation date consolidation date
Other explanation for business combination under the common control:
Nil
6. Business combination not under the common control during the reporting period
In RMB
Party to be consolidated Amount of goodwill Calculation method for goodwill
Other explanation for business combination not under the common control:
Nil
Achieved enterprise combination by multiple trading on step-by-step basis and obtained controlling rights in the Period
□ Applicable√ Not applicable
7. Loss of subsidiaries due to disposal of equity interests without controlling rights during the reporting
period
Subsidiary Disposal date Recognition method for gains and losses
Other explanation for loss of subsidiaries due to disposal of equity interests without controlling rights
Nil
Dispose investment for subsidiary by multiple trading on step-by-step basis and losing controlling rights lasting to the Period
□ Applicable√ Not applicable
8. Counter purchase occurred during the reporting period
Basis for determination of Determination method for Calculation method for goodwill
Backdoor
counter purchase consolidated costs recognized in consolidation or
72
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
recorded in current gains and
losses
Other explanation for counter purchase:
Nil
9. Absorption consolidation occurred during the reporting period
In RMB
Types of absorption consolidation Major assets consolidated Major liabilities consolidated
Absorption consolidation under common control Item Amount Item Amount
Absorption consolidation not under common
Item Amount Item Amount
control
Other explanation for absorption consolidation:
Nil
10. Translation exchange rates for items in major statements of overseas operating entities
Nil
VII. Notes to Items in Consolidated Financial Statements
1. Monetary fund
In RMB
Period-end Period-begin
Items Conversion Conversion
Foreign currency Amount in RMB Foreign currency Amount in RMB
rate rate
Cash: -- -- 204,015.53 -- -- 49,992.08
-- -- 204,015.53 -- -- 48,495.10
RMB
1,894.30 0.78623 1,489.36
HKD
1.25 6.1000 7.62
USD
Bank deposit: -- -- 29,156,692.68 -- -- 26,784,179.51
RMB -- -- 29,156,692.68 -- -- 26,784,179.51
Other monetary fund: -- -- 0.00 -- -- 0.00
RMB -- -- 0.00 -- -- 0.00
Total -- -- 29,360,708.21 -- -- 26,834,171.59
Separate explanation is required for accounts with restricted application purposes, deposited overseas and of potential recovery risks
arising from pledge, mortgage or frozen:
Nil
2. Transactional financial assets
(1) Transactional financial assets
73
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
In RMB
Item Fair value as at period-end Fair value as at period-begin
(2) Realization of restricted transactional financial assets
In RMB
Other significant restrictions on restriction
Item Amount as at period-end
conditions for sale or realization
(3) Explanation for hedge instruments and related hedge transactions
3. Notes receivable
(1) Classification of notes receivable
In RMB
Category Period-end Period-begin
Bank acceptance bill 9,814,204.40 0.00
Business acceptance bill 0.00 0.00
Total 9,814,204.40
(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
Notes transfer to account receivable due to weak performance of drawer
In RMB
Issuer Issue date Expiring date Amount Notes
Explanation:
Nil
Un-matured notes endorsed to others by the Company
In RMB
Drawn by Date of drawl Expire date Amount Remark
Jinan YUSIGN Sales Co.,
2014-05-21 2014-11-21 27,530,000.00
Ltd.
Henan Daming Kemao
2014-06-17 2014-12-17 14,867,917.90
Co., Ltd.
Shijiazhuang Dasong
2014-05-22 2014-11-22 4,470,000.00
Technology Co., Ltd.
74
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Suzhou Jiaxin Economy
2014-04-15 2014-10-15 2,050,000.00
& Trade Co., Ltd.
Suzhou Daming Vehicle
2014-03-27 2014-09-27 600,000.00
Industry Co., Ltd.
Total -- -- 49,517,917.90 --
Note: amount of notes with endorsement provided to other party but not post-dated of the Company in first half of the year was RMB
50,218,459.41.
Explanation for commercial acceptance notes discounted or pledged:
Nil
4. Dividend receivables
In RMB
Depreciation for
Increase in this Decrease in this Reasons of
Item Period-begin Period-end relevant account
period period unrevoked
or not
Including: -- -- -- -- -- --
Including: -- -- -- -- -- --
Explanation:
5. Interest receivables
(1) Interest receivables
In RMB
Item Period-begin Increase in this period Decrease in this period Period-end
(2) overdue interests
In RMB
Loan provider Times overdue (days) Overdue interests
(3) Explanation on interest receivable
6. Accounts receivable
(1) Exposure of accounts receivable by category:
In RMB
Period-end Period-begin
Category Book balance Bad debt provision Book balance Bad debt provision
Amount Ratio Amount Ratio Amount Ratio Amount Ratio
75
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Account receivable of bad debt provision withdrawal by combination
Withdrawal bad debt 3,479,566.9 1,271,804.8 8,346,657
100.00% 36.55% 100.00% 1,286,406.13 15.41%
provision by age group 7 6 .41
3,479,566.9 1,271,804.8 8,346,657
Subtotal of group 100.00% 36.55% 100.00% 1,286,406.13 15.41%
7 6 .41
3,479,566.9 1,271,804.8 8,346,657
Total -- -- -- 1,286,406.13 --
7 6 .41
Explanation to the category of accounts receivable:
According to the business scale, business nature, and customers’ settlement, etc., the account receivable with single big amount is
determined to be RMB 5 million. The account receivable with single big amount has no depreciation reserve, and the reserve for bad
and doubtful account is withdrawn with age analysis method.
Account receivable with single significant amount and withdrawal bad debt provision separately at period end
□ Applicable√ Not applicable
In combination, account receivable withdrawal bed debt provision by age analysis method:
√ Applicable□ Not applicable
In RMB
Period-end Period-begin
Age Book balance Book balance
Bad debt provision Bad debt provision
Amount Ratio Amount Ratio
Within 1year
Including: -- -- -- -- -- --
Within 1year 2,129,333.82 61.19% 6,388.00 6,996,424.26 83.82% 20,989.27
Subtotal of Within
2,129,333.82 61.19% 6,388.00 6,996,424.26 83.82% 20,989.27
1year
1-2 years 59,730.00 1.72% 179.19 59,730.00 0.72% 179.19
2-3 years 25,341.50 0.73% 76.02 25,341.50 0.30% 76.02
Over 3 years 1,265,161.65 36.36% 1,265,161.65 1,265,161.65 15.16% 1,265,161.65
Total 3,479,566.97 -- 1,271,804.86 8,346,657.41 -- 1,286,406.13
In combination, withdrawal proportion of bad debt provision based on balance proportion for account receivable
□ Applicable√ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for account receivable
□ Applicable√ Not applicable
Accounts with single significant amount and bad debts provision accrued individually at end of period
□ Applicable√ Not applicable
(2) Reversal or recovery of account receivables during the reporting period
In RMB
76
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Basis for determination Accumulated provision of
Contents of account Reason for reversal of Amounts reversed or
of original bad debt bad debt reserve before
receivables recovery recovered
reserve reversal or recovery
Total -- -- 0.00 --
Provision for bad debt reserve for account receivable with single significant or minor amount but tested for impairment separately as at
period-end:
In RMB
Contents of account
Book balance Bad debt amount Provision proportion Reasons
receivables
Total 0.00 0.00 -- --
Explanation for account receivable with single minor amount while the risks of the group categorized with similar risk characteristics
are relative significant:
Nil
(3) Account receivables actually written-off during the reporting period
In RMB
Name of the Nature of account Arising from related
Time of write-off Amount written off Reason for write-off
company receivables transactions (Y/N)
Total -- -- 0.00 -- --
Explanation for write-off of account receivables:
Nil
(4) Account receivables due from the shareholders holding 5% or above voting shares of the Company
during the reporting period
In RMB
Period-end Period-begin
Name Bad debt provision Bad debt provision
Book balance Book balance
accrual accrual
Total 0.00 0.00 0.00 0.00
(5) Top 5 units with an amount of account receivable
In RMB
Proportion among the
Relationship with the
Name Amount Period gross accounts receivable
company
(%)
Customer 1 Non-affiliated 1,028,931.76 Within 1year 29.57%
Customer 2 Non-affiliated 261,419.60 Within 1year 7.51%
77
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Customer 3 Non-affiliated 254,580.20 Within 1year 7.32%
Customer 4 Non-affiliated 117,483.98 Within 1year 3.38%
Customer 5 Non-affiliated 109,419.79 Within 1year 3.14%
Total -- 1,771,835.33 -- 50.92%
(6) Account receivables due from related parties
In RMB
Proportion in total account
Name of the company Relationship with the Company Amount
receivables (%)
Total -- 0.00 0.00%
(7) Account receivables derecognized
In RMB
Item De-recognition amount Gains or losses related to derecognizing
Total 0.00 0.00
(8) As for securities with account receivables as target subject, list the assets and liabilities arising from
further involvement
In RMB
Item Period-end
Assets:
Subtotal 0.00
Liabilities:
Subtotal 0.00
7. Other receivables
(1) Disclosure of other receivables by classification
In RMB
Period-end Period-begin
Types Book balance Bad debt provision Book balance Bad debt provision
Amount Ratio Amount Ratio Amount Ratio Amount Ratio
Other receivable of bad debt provision withdrawal by combination
Withdrawal bad debt 107,821,659.
988,053.75 100.00% 427,585.97 43.28% 100.00% 426,229.56 0.40%
provision by age group 25
78
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
107,821,659.
Subtotal of group 988,053.75 100.00% 427,585.97 43.28% 100.00% 426,229.56 0.40%
25
107,821,659.
Total 988,053.75 -- 427,585.97 -- -- 426,229.56 --
25
Explanation for category of other receivables:
According to the business scale, business nature, and customers’ settlement, etc., the account receivable with single big amount is
determined to be RMB 5 million. The account receivable with single big amount has no depreciation reserve, and the reserve for bad
and doubtful account is withdrawn with age analysis method.
Other receivable with single significant amount and withdrawal bad debt provision separately at end of period
□ Applicable√ Not applicable
In combination, other accounts receivable whose bad debts provision was accrued by age analysis
√ Applicable□ Not applicable
In RMB
Period-end Period-begin
Age Book balance Book balance
Bad debt provision Bad debt provision
Amount Ratio Amount Ratio
Within 1year
Including:
Within 1year 539,318.23 54.58% 1,617.95 107,372,923.73 99.58% 261.54
Subtotal of Within 1year 539,318.23 54.58% 1,617.95 107,372,923.73 99.58% 261.54
2-3 years 22,836.00 2.31% 68.50 22,836.00 0.02% 68.50
Over 3 years 425,899.52 43.11% 425,899.52 425,899.52 0.40% 425,899.52
Total 988,053.75 -- 427,585.97 107,821,659.25 -- 426,229.56
In combination, withdrawal proportion of bad debt provision based on balance proportion for other account receivable
□ Applicable√ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for other account receivable
□ Applicable√ Not applicable
Other receivable with single minor amount while withdrawal bad debt provision separately at end of period
□ Applicable√ Not applicable
(2) Reversal or recovery of other receivables during the reporting period
In RMB
Basis for determination Accumulated provision of
Reason for reversal of Amounts reversed or
Contents of other receivables of original bad debt bad debt reserve before
recovery recovered
reserve reversal or recovery
79
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Total -- -- 0.00 --
Provision for bad debt reserve for other receivable with single significant or minor amount but tested for impairment separately as at
period-end:
In RMB
Contents of account
Book balance Bad debt amount Provision proportion Reason
receivables
Total 0.00 0.00 -- --
Explanation for other receivable with single minor amount while the risks of the group categorized with similar risk characteristics are
relative significant:
Nil
(3) Other receivables actually written-off during the reporting period
In RMB
Name of the Nature of other Arising from related
Time of write-off Amount written off Reason for write-off
company receivables transactions (Y/N)
Total -- -- 0.00 -- --
Explanation for write-off of other receivables:
Nil
(4) Other receivables due from the shareholders holding 5% or above voting shares of the Company during
the reporting period
In RMB
Period-end Period-begin
Name of the company Bad debt provision Bad debt provision
Book balance Book balance
accrual accrual
Total 0.00 0.00 0.00 0.00
(5) Nature or content of other receivables with significant amount
In RMB
Nature or content of
Name of the company Amount Proportion in total other receivables
account
Labor union 404,000.00 Account receivable 40.89%
Total 404,000.00 -- 40.89%
Explanation
Nil
80
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(6) Top 5 other receivable
In RMB
Relationship with the Proportion in total other
Name of the company Amount Terms
Company receivables (%)
Total -- 0.00 -- 0.00%
(7) Other receivables due from related parties
In RMB
Proportion in total other
Name of the company Relationship with the Company Amount
receivables (%)
Total -- 0.00 0.00%
(8) Other receivables derecognized
In RMB
Item De-recognition amount Gains or losses related to de-recognition
Total 0.00 0.00
(9) As for securities with other receivables as target subject, list the assets and liabilities arising from further
involvement
In RMB
Item Period-end
Assets:
Subtotal 0.00
Liabilities:
Subtotal 0.00
(10) Government subsidy recognized by amount receivable at end of period
In RMB
Reasons of fails to
Item of Time to Amount
Name of the Closing Age of Basis for collected amount in
government collected estimated to
company balance period-end obtained estimated time (if
subsidy estimated obtained
applicable)
Total -- 0.00 -- -- 0.00 -- --
81
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
8. Payment in advance
(1) Analysis of payments in advance by aging
In RMB
Period-end Period-begin
Age
Amount Ratio Amount Ratio
Within 1year 874,283.29 92.62% 3,748.01 2.11%
1-2 years 69,700.00 7.38% 173,888.48 97.89%
Total 943,983.29 -- 177,636.49 --
Explanation for aging analysis of payments in advance:
Nil
(2) Top 5 of payments in advance
In RMB
Relationship with the
Name of the company Amount Time Reason for unsettlement
Company
Customer 1 Non-affiliated 263,114.00 Within 1 year
Customer 2 Non-affiliated 121,070.80 Within 1 year
Customer 3 Non-affiliated 119,107.00 Within 1 year
Customer 4 Non-affiliated 83,527.00 Within 1 year
Customer 5 Non-affiliated 69,700.00 Within 1 year
Total -- 656,518.80 -- --
Explanation for major units paid in advance:
Nil
(3) Shareholders holding 5% or above voting shares of the Company in payments in advance during the
reporting period
In RMB
Period-end Period-begin
Name of the company Bad debt provision Bad debt provision
Book balance Book balance
accrual accrual
(4) Explanation for account paid in advance
Nil
82
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
9. Inventory
(1) Classification
In RMB
Period-end Period-begin
Item Depreciation Depreciation
Book balance Book value Book balance Book value
provision provision
Raw materials 49,675.47 49,675.47 10,580.00 10,580.00
Stock products 22,796,765.21 22,796,765.21 4,534,536.43 4,534,536.43
Total 22,846,440.68 22,846,440.68 4,545,116.43 4,545,116.43
(2) Inventory impairment provision
In RMB
Opening book Provision for this Decrease during this period
Kinds of inventories Closing book balance
balance period Reversal Written-off
(3) Particular about inventory impairment provision
Proportion of the reversal
Accrual basis for inventory Reason for reversal during the amount during the year in the
Item
impairment provision period period-end balance of the
inventory (%)
Explanation on inventory
Nil
10. Other current assets
In RMB
Item Period-end Period-begin
Explanation on other current assets
Nil
11. Financial assets available for sale
(1) Particular about financial assets available for sale
In RMB
Item Closing fair value Opening fair value
For financial assets available for sale that re-category from investment held to maturity, re-category amounting as Yuan, and takes
percent of the investment held to maturity before re-category.
(2) Long-term debt investment in financial assets available for sales
In RMB
83
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Interest
Initial
Opening receivable or Closing
Bond Type Book value investment Expired dated Interest
balance received balance
cost
accumulative
Explanation on long-term debt investment in financial assets available for sales
(3) Impairment of financial assets available for sale
In RMB
Type of financial assets available for Equity instrument Debt instrument
Other Total
sale available for sale available for sale
(4) Changes of impairment of financial assets available for sale in period
In RMB
Type of financial assets Equity instrument Debt instrument
Other Total
available for sale available for sale available for sale
(5) Explanation on closing fair value of equity instrument available for sale which was down sharply and
drop continuously
In RMB
Decline
Equity Explanation on not to accrual
changes (%) Accrual
instrument Time to drop impairment in line with the
Cost Fair value of fair value impairment
available for continuously difference between cost and
comparing amount
sale (by items) closing fair value
with its costs
12. Held-to-maturity investment
(1) Particular about held-to-maturity investment
In RMB
Item Closing book balance Opening book balance
Explanation on held-to-maturity investment
(2) Held-to-maturity investment that sold in report period but not expired
In RMB
Item Amount Proportion in amount before sold (%)
Explanation on held-to-maturity investment that sold in report period but not expired
13. Long-term account receivable
In RMB
84
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Types Period-end 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 at total net assets Net profit in
revenue in this
company by the invested period-end 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
Explanati
on on the
incongruit
Proportio Impairme
Proportio y in share
n of nt
n of share holding
Increase/d voting Impairme provision Cash
Invested Calculatio Investme Opening Closing holding in proportio
ecrease(+, rights in nt of bonus this
company n method nt cost balance balance invested n and
-) invested provision accruing period
company voting
company this
(%) proportio
(%) period
n in
invested
company
Total -- 0.00 0.00 0.00 0.00 -- -- -- 0.00 0.00 0.00
(2) Limited ability for capital transfer to investment enterprise
In RMB
Long-term equity investment that has
un-recognized investment losses
limited ability of capital transfer to Restriction reasons
accumulative in period
investment enterprise
Explanation on long-term equity investment
85
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
16. Investment real estate
(1) Investment real estate measured by cost
In RMB
Increase during the Decrease during this
Item Opening book balance Closing book balance
period period
In RMB
This period
(2) Investment real estate measured by fair value
In RMB
Increase during the period Decrease during this period
Self-use real
Opening fair Gains/losses Transfer to Closing fair
Item estate or
value Purchase of fair value Disposal self-use real value
transfer from
changed estate
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
Opening book Decrease during this Closing book
Item Increase during the period
balance period balance
I. Total original book value: 1,171,452.63 319,804.27 515,478.06 975,778.84
Transportation tools 590,000.00 316,300.00 515,478.06 390,821.94
Electronic and other
581,452.63 3,504.27
equipment
Opening book Increase during Decrease during this Book balance at
-- Accrual in this period
balance this period period period-end
II. total of accumulated
943,628.26 28,846.25 448,829.52 523,644.99
depreciation:
Transportation tools 551,711.93 16,261.35 448,829.52 119,143.76
Electronic and other
391,916.33 12,584.90 404,501.23
equipment
Opening book Book balance at
-- --
balance period-end
III. total net value of fixed
227,824.37 -- 452,133.85
assets
Transportation tools 38,288.07 -- 271,678.18
Electronic and other 189,536.30 -- 180,455.67
86
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
equipment
Electronic and other
--
equipment
V. total book value of fixed
227,824.37 -- 452,133.85
assets
Transportation tools 38,288.07 -- 271,678.18
Electronic and other
189,536.30 -- 180,455.67
equipment
Depreciation in this period amounting to 28,846.25 Yuan; original price transfer from construction in progress to
fixed assets amounting as 0.00 Yuan
(2) Temporary idle fixed assets
In RMB
Depreciation Impairment
Item Original book value Net book value Note
accumulative provision
(3) Fixed assets leasing-in by financing lease
In RMB
Item Original book value Depreciation accumulative Net book value
(4) Fixed assets leasing-out by operational lease
In RMB
Types Closing book value
(5) Fixed assets held for sale in period-end
In RMB
Disposal expense
Item Book value Fair value Disposal date predicted
predicted
(6) Fixed assets with un-completed property certificates
Item Reasons for un-completed certificate Times expected for certificate completed
Explanation on fixed assets:
Nil
18. Construction in process
(1) Construction in process
In RMB
Period-end Period-begin
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Total 0.00 0.00 0.00 0.00
(2) Changes of major projects under construction
In RMB
87
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Proportio
n of Interest
Increase Accumulatincluding:
Transfer project capitaliz
Period-b during Other ed amount interest Capital Closing
Item Budget to fixed investme Progress of interestcapitalizedation rate
egin the decrease capitalizatiamount of source amount
assets nt in of the
period on the year
budget year (%)
(%)
Total 0.00 0.00 0.00 0.00 0.00 -- -- 0.00 0.00 -- -- 0.00
Explanation on changes of major projects under construction
Nil
(3) Construction in process impairment provision
In RMB
Increase during the Decrease during this
Item Period-begin Period-end Accrual Reason
period period
Total 0.00 0.00 0.00 0.00 --
(4) Progress of material construction in progress
Item progress Note
(5) Explanation on construction in process
Nil
19. Construction materials
In RMB
Increase during the Decrease during this
Item Period-begin Period-end
period period
Total 0.00 0.00
Explanation on construction materials
Nil
20. Disposal of fixed assets
In RMB
Item Opening book value Closing book value Reasons for turn to disposal
Explain the progress of disposal of fixed assets transfer over one year
Nil
21. Productive biological assets
(1) Measured by cost
In RMB
88
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Increase during the
Item Opening book balance Decrease during this period Closing book balance
period
I. Crop farming
II. Livestock
III. Forestry
IV. Aquaculture
Total 0.00 0.00 0.00 0.00
(2) Measured by fair value
In RMB
Increase during the
Item Opening book value Decrease during this period Closing book value
period
I. Crop farming
II. Livestock
III. Forestry
IV. Aquaculture
Total 0.00 0.00 0.00 0.00
Explanation on productive biological assets
Nil
22. oil/gas assets
In RMB
Increase during the
Item Opening book balance Decrease during this period Closing book balance
period
I. Total original book value 0.00 0.00 0.00 0.00
II. Total accumulative loss 0.00 0.00 0.00 0.00
III. Total accumulative
amount of impairment 0.00 0.00 0.00 0.00
provision for oil/gas assets
Explanation on oil/gas assets
Nil
23. Intangible assets
(1) Particular about intangible assets
In RMB
Item Opening book balance Increase during the Decrease during this Closing book balance
89
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
period period
I. Total original book value 5,271,000.00 5,271,000.00
Trademark 5,271,000.00 5,271,000.00
II. total accumulated
376,500.00 376,500.00
amortization
Trademark 376,500.00 376,500.00
III. total net book value of
5,271,000.00 -376,500.00 4,894,500.00
intangible assets
Trademark 5,271,000.00 -376,500.00 4,894,500.00
Trademark
Total book value of intangible
5,271,000.00 -376,500.00 4,894,500.00
assets
Trademark 5,271,000.00 -376,500.00 4,894,500.00
The amount amortized in this period accounting as 376,500.00 Yuan
(2) Expenditure of project development
In RMB
Decrease during this period
Increase during the
Item Period-begin Record into current Confirm as intangible Period-end
period
gains and losses assets
Total 0.00 0.00 0.00 0.00 0.00
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:
Nil
24. Goodwill
In RMB
Closing
Name of invested company or Increase during the Decrease during
Opening balance Closing balance impairment
items formed goodwill period this period
provision
Total 0.00 0.00 0.00 0.00 0.00
Explain the impairment testing method and withdrawal method for impairment provision of goodwill:
Nil
25. Long-term deferred expense
In RMB
Increase during Amortization Reasons for other
Item Opening amount Other decrease Closing amount
the period during this period decrease
Explanation on long-term deferred expense:
Nil
90
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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 Period-end Period-begin
Deferred income tax assets:
Deferred income tax liability:
Details of un-recognized deferred income tax assets
In RMB
Item Period-end Period-begin
Total 0.00 0.00
The deductible losses of un-recognized deferred income tax assets are expired in the follow year:
In RMB
Year Closing amount Opening amount Note
Total 0.00 0.00 --
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
Subtotal 0.00 0.00
Item of deductible differences
Subtotal 0.00 0.00
(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 differences
assets and liability differences of assets and liability
Item of payable taxes after
after mutual offset at payable taxes after after mutual offset at
mutual offset at
period-end mutual offset at period-begin
period-begin
period-end
Deferred income tax liability 0.00 0.00
Details of mutual offset of deferred income tax assets and liability
In RMB
Item Amount mutual offset
Explanation on deferred income tax assets and deferred income tax liabilities
91
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Nil
27. Details of asset impairment provision
In RMB
Opening book Increase during the Decrease during this period Closing book
Item
balance period Reversal Written-off balance
I. Bad debt reserve 1,712,635.69 1,356.41 14,601.27 1,699,390.83
V. Long-term equity
0.00 0.00
investment provision
IX. Construction in process
0.00 0.00 0.00
impairment provision
XI. Oil/gas assets provision 0.00 0.00 0.00
XIII. Goodwill provision 0.00
Total 1,712,635.69 1,356.41 14,601.27 1,699,390.83
Explanation on asset impairment provision:
28. Other non-current assets
In RMB
Item Period-end Period-begin
Explanation on other non-current assets
Nil
29. Short-term loans
(1) Type of Short-term Loans
In RMB
Item Period-end Period-begin
Explanation on short-term loans
Nil
(2) Short-term loans un-paid by expired
In RMB
Unit Loan amount Loan rates Using in Reasons of un-paid Predicted payment date
Total 0.00 -- -- -- --
Amount paid after balance sheet date.
Explanation on short-term loans: for those expired short-term loans obtained expansion period, explain the expansion condition and
new expiration:
Nil
30. Transactional financial liabilities
In RMB
92
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Item Closing fair value Opening fair value
Explanation on transactional financial liabilities:
Nil
31. Note payable
In RMB
Types Period-end Period-begin
Amount expired in next accounting period: 0.00 Yuan
Explanation on note payable:
Nil
32. Account payables
(1) Account payables
In RMB
Item Period-end Period-begin
Within 1year 24,763,739.37 9,679,002.89
1-2 years 256,717.84 256,717.84
Total 25,020,457.21 9,935,720.73
(2)Accounts payable to shareholders holding 5% or above voting shares of the Company
In RMB
Name of the company Period-end Period-begin
Total 0.00 0.00
(3) Explanation on major account payable with over one year age:
Nil
33. Account received in advance
(1) Account received in advance
In RMB
Item Period-end Period-begin
Within 1year 5,466,837.05 3,066,936.72
1-2 years 58,373.00 58,373.00
2-3 years 502,013.59 502,013.59
Total 6,027,223.64 3,627,323.31
(2)Accounts received in advance to shareholders holding 5% or above voting shares of the Company
In RMB
Name of the company Period-end Period-begin
Total 0.00 0.00
(3) Explanation on major account received in advance with over one year age:
93
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Nil
34. Wages payable
In RMB
Item Opening book balance Increase during the period Decrease during this period Closing book balance
I. Wage, bonus,
allowance and 1,286,682.00 4,723,911.29 4,806,319.29 1,204,274.00
subsidy
V. Dismission
17,310.25 17,310.25
welfare
VI. Other 229,942.17 42,235.74 55,196.99 216,980.92
Labor union and staff
229,942.17 42,235.74 55,196.99 216,980.92
educational charge
Total 1,516,624.17 4,783,457.28 4,878,826.53 1,421,254.92
Wages payable has 0 Yuan for arrears
Outlay for labor union and staff educational charge amounting as 55,196.99Yuan; non-monetary welfare amounting as 0 Yuan and
compensation for dismiss of labor relationship amounting to 17,310.25 Yuan
The wages payable expected to pay and the amount for payment:
Nil
35. Tax payable
In RMB
Item Period-end Period-begin
VAT 829,853.59 596,142.27
Business tax 45,715.36 67,744.68
Enterprise income tax 782,666.07 93,002,221.34
Personal income tax 45,363.67 31,172.70
City maintenance and construction tax 15,821.24 15,383.51
Educational surtax 6,481.87 6,169.20
Embankment fee 5,884.44 6,297.08
Housing property tax 53,122.79
Total 1,731,786.24 93,778,253.57
Explanation on tax payable: if the local taxation bureau agrees mutual adjustment between vary branches and plants, explain taxation
calculation:
Nil
36. Interest payable
In RMB
94
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Item Period-end Period-begin
Explanation on interest payable:
Nil
37. Dividend payable
In RMB
Reasons for un-payment over one
Name of the company Period-end Period-begin
year
Explanation on dividend payable:
Nil
38. Other payables
(1) Other payables
In RMB
Item Period-end Period-begin
Within 1year 18,316,628.04 26,451,724.68
1-2 years 8,503,010.21 8,503,010.21
Total 26,819,638.25 34,954,734.89
(2) Others payable due to shareholders units holding over 5% (5% included) voting shares of the Company
at period-end
In RMB
Name of the company Period-end Period-begin
Total 0.00 0.00
(3) Explanation on other account payable with over one year age
Subsidiary EMMELLE borowwed 6.5 million Yuan from Shenzhen Guosheng Energy Investment Development Co., Ltd.
(4) Explanation on major amount for other account payable
Creditor Period-end Nature/content
Administrator and common benefits debt 17,838,748.74 Common benefits debt and others
Shenzhen Guosheng Energy Investment 6,500,000.00 Interest-free loan
Development Co., Ltd.
Total 24,338,748.74
39. Accrued liabilities
In RMB
Increase during the Decrease during this
Item Period-begin Period-end
period period
Explanation on accrued liabilities
Nil
95
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
40. Non-current liability due within one year
(1) Non-current liability due within one year
In RMB
Item Period-end Period-begin
(2) Long-term loans due within one year
Long-term loans due within one year
In RMB
Item Period-end Period-begin
In long-term loans due within one year, amount of undue but with expansion time
Top five long-term loans due within one year:
In RMB
Period-end Period-begin
Starting date Termination
Unit Currency Rate Foreign Local Foreign Local
for loans date for loans
currency currency currency currency
Total -- -- -- -- -- 0.00 -- 0.00
Due loans in long-term loans due within one year:
In RMB
Unit Amount loans Undue date Annual rate Using purpose Unpaid reasons Paid expected
Total 0.00 -- -- -- -- --
Amount paid after balance sheet date.
Explanation on long-term loans due within one yea:
Nil
(3) Bond payable due within one year
In RMB
Interest Interest
Interest Interest paid
Issuing payable at payable in Balance at
Name Value Issuing date Terms payable in in this
amount period-begi this period-end
this period period
n period-end
Explanation on bond payable due within one year:
Nil
(4) Long-term account payable due within one year
In RMB
Amount at
Unit Terms Initial amount Rate (%) Interest reckoned Loan condition
period-end
Explanation on long-term account payable due within one year:
96
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Nil
41. Other current liability
In RMB
Item Closing book balance Opening book balance
Explanation on other current liability:
Nil
42. Long-term loan
(1) Category of long-term loans
In RMB
Item Period-end Period-begin
Explanation on category of long-term loans:
Nil
(2) Top five long-term loans
In RMB
Period-end Period-begin
Starting date Termination
Unit Currency Rate Foreign Local Foreign Local
for loans date for loans
currency currency currency currency
Total -- -- -- -- -- 0.00 -- 0.00
Explanation on long-term loans: if there has long-term loans from undue with expansion obtained, explain the expansion condition,
principle, interest and predicted payment arrange:
Nil
43. Bond payable
In RMB
Amount at Amount at
Interest Interest paid
Issuing period-begi period-end Closing
Name Value Issuing date Terms payable in in this
amount n Interest Interest balance
this period period
payable payable
Bond payable including convertible corporate bond’s condition and time for shares transfer:
Nil
44. Long-term account payable
(1) Top five long-term account payable
In RMB
Unit Term Initial amount Rate Interest reckoned Closing balance Loan condition
97
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(2)Details of financing lease payable in long-term payable
In RMB
Period-end Period-begin
Unit
Foreign currency RMB Foreign currency RMB
Total 0.00 0.00 0.00 0.00
Amount of guarantee from independent third party for the financing lease of the Company
Explanation on long-term payable:
Nil
45. Specific account payable
In RMB
Decrease
Increase during
Item Period-begin during this Period-end Note
the period
period
Total 0.00 0.00 --
Explanation on specific account payable:
Nil
46. Other non-current liability
In RMB
Item Closing book balance Opening book balance
Explanation on other non-current liability
Nil
Item of liability with government subsidy concerned
In RMB
Amount reckoned
Subsidy
into non-operation Closing Assets-related/Inco
Item Opening balance increase during Other changes
revenue in the balance me-related
this period
Period
Total 0.00 0.00 0.00 0.00 0.00 --
Nil
47. Share capital
In RMB
Increased (decreased) in this period
Shares
Period-begin New shares Period-end
Bonus shares converted from Other Subtotal
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
98
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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.
No changes in the Period
48. Stock shares
Explanation on stock shares:
Nil
49. Reasonable reserve
Explanation on reasonable reserve
Nil
50. Capital reserves
In RMB
Decrease during this
Item Period-begin Increase during the period Period-end
period
Other capital reserves 627,819,910.12 627,819,910.12
Total 627,819,910.12 627,819,910.12
Explanation on capital reserve
Capital reserve has no changed in the Period
51. Surplus reserves
In RMB
Decrease during this
Item Period-begin Increase during the period Period-end
period
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:
Nil
52. General risk provision
Explanation on general risk provision:
Nil
53. Retained profit
In RMB
Withdrawal or Allocation
Item Amount
Ratio
99
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Retained profits at the end of last year before
-1,204,837,748.73 --
adjustment
Retained profits at the beginning of the year after
-1,204,837,748.73 --
adjustment
Add: The net profits belong to owners of patent
1,874,649.46 --
company of this period
Less: Withdraw legal surplus reserves 10.00%
Retained profit at period-end -1,202,963,099.27 --
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 retained
profits at the beginning of the year amounting to 0 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the year amounting to 0 Yuan. 3) The major
accounting error correction affects the retained profits at the beginning of the year amounting to 0 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the year amounting to 0 Yuan.
5) Other adjustments affect the retained profits at the beginning of the year amounting to 0 Yuan
The retained 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.
Nil
54. Operating income and cost
(1) Operating income and cost
In RMB
Item Amount of this period Amount of last period
Main operating income 82,413,282.09 92,447,037.49
Other operating income 3,253,352.31 12,456,483.10
Operating cost 80,326,800.62 92,139,173.51
(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 part 82,413,282.09 77,743,826.24 91,085,989.79 86,181,559.63
Lease management 0.00 0.00 1,361,047.70 1,644,557.66
Total 82,413,282.09 77,743,826.24 92,447,037.49 87,826,117.29
100
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(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 electro car 62,313,134.43 58,778,064.57 69,701,335.81 66,261,490.66
OEM bicycle 19,947,262.69 18,760,980.47 20,816,179.61 19,409,282.99
CBC bicycle 94,461.57 112,515.09 281,709.39 233,886.84
Other 58,423.40 92,266.11 286,764.98 276,899.14
Lease management 0.00 0.00 1,361,047.70 1,644,557.66
Total 82,413,282.09 77,743,826.24 92,447,037.49 87,826,117.29
(4) Main business (By districts)
In RMB
Amount of this period Amount of last period
District
Operating income Operating cost Operating income Operating cost
Shenzhen 653,776.07 613,280.36 3,342,588.70 3,366,561.94
Other places 81,759,506.02 77,130,545.88 89,104,448.79 84,459,555.35
Total 82,413,282.09 77,743,826.24 92,447,037.49 87,826,117.29
(5) The operating income of the top five customers of the Company
In RMB
The percentage in all operating income of the Company
Client Income from main business
(%)
Client1 35,935,263.93 41.95%
Client2 17,631,991.56 20.58%
Client3 11,789,486.13 13.76%
Client4 4,662,102.28 5.44%
Client5 1,915,476.94 2.24%
Total 71,934,320.84 83.97%
Explanation on operating income
Nil
55. Contract item income
In RMB
101
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Gross profit
Cost accumulative accumulative Amount with
Contract Item Amount
Fixed price contract occurred recognized (loss settlement done
listed with ―-―)
Subtotal 0.00 0.00 0.00 0.00
Gross profit
Cost accumulative accumulative Amount with
Contract Item Amount
Fixed price contract occurred recognized (loss settlement done
listed with ―-―)
Subtotal 0.00 0.00 0.00 0.00
Explanation on contract item
Nil
56. Business tax and surcharges
In RMB
Item Amount of this period Amount of last period Taxation standards
Business tax 171,604.15 68,052.39 5%
City maintenance and construction tax 43,357.58 49,119.69 7% of the payable VAT and business tax
Educational surtax 30,969.71 68,767.51 5% of the payable VAT and business tax
Total 245,931.44 185,939.59 --
Explanation on business tax and surcharges
Educational surtax above including 2% of the local education surtax
57. Sales expenses
In RMB
Item Amount of this period Amount of last period
Salary & social insurance & housing funds 1,246,169.99 1,555,388.25
Development charge for new products 45,540.34 920,282.10
Market promotion fees 292,689.61
AD and promotion expenses 146,500.00
Travel expenses 199,145.50 228,460.40
Rental cost 262,879.39
Other 102,867.60 446,048.88
Total 1,856,602.82 3,589,369.24
102
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
58. Administration expenses
In RMB
Item Amount of this period Amount of last period
Salary & social insurance & housing funds 1,669,744.66 2,467,176.81
Auditing charge 471,698.10 500,000.00
Depreciation & amortization 28,846.25 761,100.76
Restructuring charge 0.00 31,721,968.92
Taxes 118,400.16 886,707.53
Social engagement fee 283,390.20 357,650.50
Rental cost 1,509,289.55 0.00
Other 996,001.12 1,815,127.16
Total 5,077,370.04 38,509,731.68
59. Financial expenses
In RMB
Item Amount of this period Amount of last period
Less: interest income -113,868.86 -219,377.90
Gains/losses from exchange
Other 15,594.44 20,726.63
Total -98,274.42 -198,651.27
60. Income of fair value changes
In RMB
Sources generating income of fair value changes Amount of this period Amount of last period
Explanation on income of fair value changes
Nil
61. Investment income
(1) Particulars about investment income
In RMB
Item Amount of this period Amount of last period
103
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(2) Income of long-term equity investment calculated based on cost
In RMB
Invested company Amount of this period Amount of last period Reasons of change (+,-)
Total 0.00 0.00 --
(3) Income of long-term equity investment calculated based on equity
In RMB
Invested company Amount of this period Amount of last period Reasons of change (+,-)
Total 0.00 0.00 --
Investment income description: It should be introduced if there are significant restrictions to repatriation of investment income; it also
should be introduced if there is no this kind of significant restrictions:
Nil
62. Asset impairment loss
In RMB
Item Amount of this period Amount of last period
I. bad debt loss -13,244.86
Total -13,244.86
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
Non-current assets disposal gains 39,731.46 39,731.46
Including: fixed assets disposal gains 39,731.46 39,731.46
Income from fine and penalty
Other 4,862,626.91 66,345.00 4,862,626.91
Total 4,902,358.37 66,345.00 4,902,358.37
Explanation on non-operating income
(2) Government subsidy reckoned into current gains/losses
In RMB
104
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Assets-related/income-rel Non-recurring
Item Amount of this period Amount of last period
ated gains/losses (Y/N)
64. Non-operating expenditure
In RMB
Amount reckoned into
Item Amount of this period Amount of last period current non-recurring
gains/losses
Including: fixed assets disposal losses 5,880.00 5,880.00
Other 17,174.00 25,290.00 17,174.00
Total 23,054.00 25,290.00 23,054.00
Explanation on non-operating expenditure
65. Income tax expense
In RMB
Item Amount of this period Amount of last period
Current income tax calculated based on tax law and relevant
789,686.25
rules
Total 789,686.25
66. Calculation of basic earnings per share and diluted earnings per share
The basic earnings per share are the results to divide the current net profits belonging to the Company’s common
stock holders by the weighted average of the issued common stock. The number of newly issued ordinary shares
should be calculated and determined issued from the receivable consideration day (It is generally the issue date of
the stock) in accordance with the specific terms of the contract.
The numerator of the diluted earnings per share should belong to the current net profits of the Company’s ordinary
shareholders, which is confirmed after adjusting the following factors: (1) the interests of dilutive potential ordinary
shares that have been confirmed as the expenses; (2) the earnings or costs generated when converting the diluted
potential ordinary shares; and (3) the impact of above adjustments to the related income taxes.
The denominator of the diluted earnings per share is equal to the sum of below two items: (1) the weighted average
of the ordinary shares that the parent company has issued in the basic earnings per share; and (2) the weighted
average of the ordinary shares increased by converting the assumed dilutive potential ordinary shares into the
ordinary share.
When calculating the weighted average of the ordinary shares increased by converting the diluted potential ordinary
shares into the issued ordinary shares, assume the previously issued dilutive potential ordinary shares are converted
at the beginning of the year; and assume the dilutive potential ordinary shares issued in the current year are
105
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
converted on the issue date.
(1) Basic EPS and diluted EPS
Profit in the reporting period
Amount at this year Amount at last year
diluted earning per diluted earning per
Basic earning per share Basic earning per share
share share
Net profit classed under the
Company’s common shareholders
0.0034 0.0034 -0.0531 -0.0531
Net profit classed under the
Company’s common shareholders
after deduction of non-frequent gain
-0.0049 -0.0049
0.0040 0.0040
and loss
(2)Calculation process of earning per share and diluted earning per share
The Company has no potential ordinary shares possessing dilution in the Period, thus, diluted EPS equals to basic EPS
①Current net profit attributable to common shareholders in calculation of basic EPS:
Item
Amount at this year Amount at last year
1,874,649.46 -29,283,608.20
Net profit attributable to common shareholders
1,874,649.46 -29,283,608.20
Including: net profit attributable to on-going operation
Net profit attributable to discontinuing operation
-2,694,064.82 2,197,124.06
Net profit attributable to common shareholders after deduction of
non-recurring gains/losses
-2,694,064.82 2,197,124.06
Including: net profit attributable to on-going operation
Net profit attributable to discontinuing operation
②Denominator is the weighted common shares issued in calculation of the basic EPS:
Item
Amount at this year Amount at last year
Number of common shares outstanding at period-beginning 551,347,947.00 551,347,947.00
Add: Weighted common shares outstanding in the Period
Less: Weighted common shares buy-back in the Period
Number of common shares outstanding at Period -end 551,347,947.00 551,347,947.00
106
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
67. Other consolidated income
In RMB
Item Amount of this period Amount of last period
Explanation on other consolidated income
Nil
68. Notes to statement of cash flow
(1) Other cash received in relation to operation activities
In RMB
Item Amount
Rent and utilities etc. 2,270,088.04
Other accounts current 108,349,727.34
Total 110,619,815.38
Explanation on other cash received in relation to operation activities
‖Other accounts current‖ including 92,388,206.44 Yuan enterprise income tax for year of 2013 that allocated by
administrator, and has paid in the Period totally
(2) Other cash paid in relation to operation activities
In RMB
Item Amount
The period expenses, operation expenditure and common benefits debt paid 9,087,945.93
Total 9,087,945.93
Explanation on other cash paid in relation to operation activities
Nil
(3) Cash received from other investment activities
In RMB
Item Amount
Explanation on cash received from other investment activities
Nil
(4) Cash paid related with investment activities
In RMB
Item Amount
Explanation on cash paid related with investment activities
Nil
(5) Other cash received in relation to financing activities
In RMB
Item Amount
107
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Explanation on other cash received in relation to financing activities
Nil
(6) Cash paid related with financing activities
In RMB
Item Amount
Explanation on cash paid related with financing activities
Nil
69. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Supplementary information This Period Last Period
1. Net profit adjusted to cash flow of operation activities: -- --
Net profit 2,361,066.88 -29,280,987.16
Add: Assets impairment provision -13,244.86
Depreciation of fixed assets, consumption of oil assets and
28,846.25 761,100.76
depreciation of productive biology assets
Amortization of intangible assets 376,500.00 431,431.02
Loss from disposal of fixed assets, intangible assets and
-33,851.46 32,000.00
other long-term assets(gain is listed with ―-‖)
Financial expenses (gain is listed with ―-‖) -198,651.27
Investment loss (gain is listed with ―-‖) -18,301,324.25 -18,347,436.27
Decrease of operating receivable accounts (increase is listed
101,120,144.74 1,905,896.56
with ―-‖)
Increase of operating payable accounts (decrease is listed
-82,792,296.41 24,140,166.28
with ―-‖)
Net cash flow arising from operating activities 2,745,840.89 -20,556,480.08
2. Material investment and financing not involved in cash
-- --
flow
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 29,360,708.21 31,866,451.72
Less: Balance of cash equivalent at year-begin 26,834,171.59 52,395,360.86
Net increasing of cash and cash equivalents 2,526,536.62 -20,528,909.14
(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 -- --
108
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
business units:
II. Relevant information about disposal of subsidiary and
-- --
other business units:
(3) Constitution of cash and cash equivalent:
In RMB
Item Period-end Period-begin
Ⅰ. Cash 29,360,708.21 26,834,171.59
Including: stock cash 204,015.53 49,992.08
Bank deposit available for payment at any time 29,156,692.68 26,784,179.51
Ⅲ. Balance of cash and cash equivalent at period-end 29,360,708.21 26,834,171.59
Explanation on constitution of cash and cash equivalent:
Nil
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:
Nil
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 operation
Total assets at Total liability at Net assets at Net profit in this
Name revenue in this Note
period-end period-end period-end period
period
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
(%) (%)
Shenzhen
Guosheng Controllin LLC Investment RMB 70 77411579-
Ji Hanfei 11.52% 11.52% Ji Hanfei
Energy g (wholly-o Shenzhen industrial, million 2
Investment shareholde wned legal domestic
109
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Developm r corporatio business
ent Co., n) and
Ltd. material
supply and
marketing
industry
(excluding
the
monopoliz
ed
commodit
y under
special
control)
Explanation on parent company of the enterprise
Nil
2. Subsidiary of the Company
Legal Proportion Proportion
Registration Business Registered Organizatio
Subsidiary Type Nature representati of shares of voting
place nature capital n code
ve held right
Shenzhen
Sales of
Emmelle Controlling 2 million
LLC Shenzhen Li Hai bicycle and 70.00% 70.00% 72617897-5
Industrial subsidiary Yuan
spare part
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
4. Particulars about other related parties
Other Related parties Relationship with the Company Organization code
Explanation on other related parties:
Nil
110
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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 parties Content decision making similar similar
Amount Amount
procedures transactio transactio
ns (%) ns (%)
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 parties Content decision making similar similar
Amount Amount
procedures transactio transactio
ns (%) ns (%)
(2) Related trusteeship/contract
Statement of related trusteeship/contract
In RMB
Income
Assignee/contract Assigner/contract
Assts type Starting from Terminated dated Pricing basis recognized in this
-out party or
period
Statement of entrusted management and contract
In RMB
Income
Assignee/contract Assigner/contract
Assts type Starting from Terminated dated Pricing basis recognized in this
-out party or
period
Explanation on related trusted ship and contract
(3) Related leasing
Leasing-out
In RMB
Leasing income
Pricing basis for
Lessor Lessee Type of leasing Starting from Terminated dated recognized in
leasing income
period
Statement of leasing
In RMB
Leasing income
Pricing basis for
Lessor Lessee Type of leasing Starting from Terminated dated recognized in
leasing income
period
Explanation on related leasing:
111
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(4) Related guarantee
In RMB
Whether guarantee
Guarantee provided Guarantee received Guarantee amount Starting from Terminated dated
implemented or not
Explanation on related leasing:
(5) Borrowed funds from related party
In RMB
Related parties Borrowed funds Starting from Terminated dated Note
Borrow-in
Borrow-out
(6) Assets transfer, debt restructure of related party
In RMB
Amount of this period Amount of last period
Ratio in Ratio in
Related parties Type Content Pricing principal similar similar
Amount Amount
transactio transactio
ns (%) ns (%)
(7) Other related transactions
Nil
6. Account receivable/payable for related parties
Account receivable from related parties
In RMB
Amount at period-end Amount at period-begin
Item Related parties
Book balance Bad debt provision Book balance Bad debt provision
Account payable for related parties
In RMB
Item Related parties Amount at period-end Amount at period-begin
Shenzhen Guosheng Energy
Other payable Investment Development Co., 6,500,000.00 6,500,000.00
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
112
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
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. Contingent events
1. Contingent liability and its financial influence formed by un-settle lawsuits or arbitration
Nil
2. Contingent liability and its financial influence formed from debt guarantee offered to other units
Nil
Other contingent liability and its financial influence:
Nil
XII. Commitments
1. Material commitments
Nil
2. Commitments made previously
Nil
XIII. Subsequent events of balance sheet
1. Explanation on major event after balance sheet date
In RMB
Influence on financial status and Reasons for no estimation on
Item Content
operation results influence amount
2. Profit distribution after balance sheet date
In RMB
3. Other explanation after balance sheet date
1. The impact generated by implementing the accounting standard newly issued or revised by the Ministry of
Finance from 1st, July, 2014
In the beginning of 2014, the Ministry of Finance issued the "Accounting Standards for Business Enterprises No. 39
- Fair Value Measurement", "Accounting Standards for Business Enterprises No. 30 - Presentation of Financial
Statements (revision 2014)‖, "Accounting Standards for Business Enterprises No. 9 - Employee Remuneration
(Revision 2014)", "Accounting Standards for Business Enterprises No. 33 - Consolidated Financial Statements
(Revision 2014)‖, "Accounting Standards for Business Enterprises No. 40 - Jointly Venture Arrangement",
"Accounting Standards for Business Enterprises No. 2 - Long-term Equity Investments (Revision 2014) " and
113
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
"Accounting Standards for Business Enterprises No. 41 - Interests Disclosure in Other Entities" respectively based
on Cai Kuai [2014] No. 6, 7, 8, 10, 11, 14, 16, which are required to be implemented in all the enterprises which
carry out the Accounting Standards for Business Enterprises from 1st, July, 2014, and encourage the companies
listed overseas to perform in advance.
Since July 1st, 2014, the Company will start to implement the above-mentioned criteria and change the relevant
accounting policies in accordance with the provisions of the above-mentioned criteria. The followings are the main
contents of the changes in accounting policies:
①Accounting Standards for Business Enterprises No. 9 - Employee Remuneration (Revision 2014)" completely
specified the accounting treatment of post-employment benefits; the post-employment benefit plans are classified as
defined contribution plans and defined benefit plans. The defined contribution plans are the post-employment
benefit plans that the enterprises no longer assume the obligation after paying the fixed charges to the separate funds;
the defined benefit plans are the post-employment benefit plans except the defined contribution plans. The
enterprises shall confirm the amounts to be paid as the liabilities by calculating based on the defined contribution
plans when the employees provide services for the enterprises, and reckon it in the current profit and loss or the
associated asset costs; for the defined benefit plans, the enterprises should calculate the obligations generated by the
defined benefit plans by adopting the unit method for the expected cumulative benefits and in accordance with the
appropriate assumptions, attribute them to the time that the employees provide services according to the formula
determined by the defined benefit plans, and reckon them in the current profit and loss, while the net indebtedness or
the changes generated by the net indebtedness by re-calculating the defined benefit plans shall be reckoned in other
consolidated income. In addition, the revised criteria also enriched the accounting treatment standards for the
short-term remuneration, replenished the accounting treatment provisions for the dismission welfare, and
introduced other benefits for the permanent staff so as to completely standardize the accounting treatment of
employees’ benefits.
②"Accounting Standards for Business Enterprises No. 30 - Presentation of Financial Statements (revision 2014)‖
further standardizes the presentation of the financial statements, and completely revised the going concern
assessment, the normal operating cycle, and the replenishment for the notes and disclosure contents, and defines the
"The further information of profit statement of which the costs are classified in accordance with the nature" as a
mandatory disclosure. The standard requires to divide the other consolidated incomes into two categories in the
statements of other consolidated incomes: (1) The follow-up projects will not be reclassified to the profits or losses;
(2) The follow-up projects may be reclassified to the profits or losses when meet the specified conditions.
③The consolidation scope of the consolidated financial statements should be confirmed on the basis of control in
accordance with "Accounting Standards for Business Enterprises No. 33 - Consolidated Financial Statements
(Revision 2014)‖. The standard establishes a single model to determine the existence of control, and specifies the
three elements required to form the control to the investees: (1) possesses the power over the investees; (2) enjoys
the changeable returns by participating in the relevant activities of the investees; (3) be capable of utilizing the
power over the investees to affects its return amount. On this basis, this standard gives more guidelines for judging
the control power than the one. In accordance with the provisions of this standard, the management of the Company
needs to use the significant judgments to determine the control power over the investees.
114
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
④ "Accounting Standards for Business Enterprises No. 40 - Jointly Venture Arrangement" standardizes the
affirmation, classification and accounting of one arrangement to the joint control with two or more participants. The
joint venture arrangements are classified as pooling of interests and cooperative enterprises in accordance with the
rights and obligations of the joint venture parties. The joint operations refer to the joint venture arrangements that
the joint venture parties enjoy the underlying assets and assume the relevant liabilities. The cooperative enterprises
refer to the joint venture arrangements that the joint venture parties only enjoy the rights of the net assets of this
arrangement. This standard requires the joint venture parties to calculate the investments of the cooperative
enterprises by using the equity method, and affirm the assets (including the share of any assets held jointly), its
liabilities (including the share of any liabilities incurred jointly), the incomes (including the share of the incomes
generated by the selling and output of the joint operations, and the expenses (including the share of the expenses
occurred during the joint operations).
⑤ "Accounting Standards for Business Enterprises No. 39 - Fair Value Measurement" standardizes the definition of
fair value, specifies the method of fair value measurement, and divides the fair value measurement into three levels
in accordance with the input value used by the fair value measurement, and makes detailed requirements to the
disclosure of relevant information of the fair value measurement. However, this standard does not change the
requirements of other accounting standards about when the fair value measurement should be used.
⑥The standard scope of "Accounting Standards for Business Enterprises No. 2 - Long-term Equity Investments
(Revision 2014)" has been reduced compared with the original standards, which only specifies the recognition and
measurement of the long-term equity investments in the subsidiaries, cooperative enterprises, and joint ventures.
The long-term equity investments that the investors do not have control, joint control or significant influence to the
invested units shall belong to the standard scope of the "Accounting Standards for Business Enterprises No. 22 -
Recognition and Measurement of the Financial Instruments". It also introduces a number of other important changes,
including emphasizing that the "book value" followed by the financial accounting of long-term equity investments
formed by business merger under the same control refers to the share of the book value of the combined party’s
equities in the consolidated financial statement of the final control party"; clarify the other changes of the owner's
equities except for the net profits and losses, other comprehensive incomes and profit distribution of the investors to
the invested units, adjusts the book value of the long-term equity investments and reckons in the owners' equities;
adjusts the joint requirements for converting the accounting methods; adds the management to investments on the
joint ventures; introduces the option to the fair value measurement of the joint venture investments held by the
subordinate investors.
⑦ "Accounting Standards for Business Enterprises No. 41 - Interests Disclosure in Other Entities" is appropriate for
the disclosure of interests in the subsidiaries, joint arrangements, joint ventures and the structuring entities not
included in the consolidated financial statements. The standard requires to disclose the significant judgments and
assumptions of the control of implementation, joint control or significant influence to other entities, and the changes
to these judgments and assumptions; and respectively specifies the detailed requirements to the disclosure about the
interests in the subsidiaries, the interests in the joint arrangements or joint ventures, and the interests in the
structuring entities not included in the consolidated financial statements. The information disclosed according to the
requirements of this standard shall help the users of the financial statements to evaluate the interests’ nature of the
115
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Company in other entities and the relevant risks, as well as the impacts of these interests on the Company's financial
condition, business performance and cash flows. After this standard goes into effect, the information disclosed
before the implementation date of this standard in the Company's comparative financial statements shall be adjusted
in accordance with the provisions of this standard (Except for the disclosure of the structuring entities not included
in the consolidated financial statements).
XIV. Other major event
1. Non-monetary assets exchange
2. Debt reorganization
3. Enterprise combination
4. Leasing
5. Financial instrument issued outside and convertible to shares in report period
6. Assets and liability measured by fair value
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
Productive biological
0.00 0.00
asset
Total 0.00 0.00
Financial liability 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 assets 0.00 0.00
Financial liability 0.00 0.00
116
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
8. Main content of pension plan and major changes
9. Other
(1) Being approved by Shenzhen Stock Exchange, trading stock of the Company cancel the delisting risk warning
since 14 May 2014
(2) The final settlement for payable enterprise income tax for year of 2013 has paid in the Period, that is
92,388,206.44 Yuan
XV. Principle notes of financial statements of parent company
1. Accounts receivable
(1) Accounts receivable
In RMB
Period-end Period-begin
Types Book balance Bad debt provision Book balance Bad debt provision
Amount Ratio Amount Ratio Amount Ratio Amount Ratio
Account receivable of bad debt provision withdrawal by combination
Account receivable of bad
100.0 100.00
debt provision withdrawal 292,106.00 245,382.00
0% %
by combination
100.0 100.00
Subtotal of group 292,106.00 245,382.00
0% %
Total 292,106.00 -- -- 245,382.00 -- --
Explanation for category of account receivables:
Based on the size, business nature and customer settlement condition of the company, the company decides that RMB 5 million of
accounts receivable is important single sum of payment. For an account receivable without depreciation at the end of the period, the bad
debt allowance is accrued on the basis of account aging analysis method.
Account receivable with single significant amount and withdrawal bad debt provision separately at period end
□ Applicable√ Not applicable
In combination, accounts receivable whose bad debts provision was accrued by age analysis
√ Applicable□ Not applicable
In RMB
Period-end Period-begin
Age Book balance Book balance
Bad debt provision Bad debt provision
Amount Ratio Amount Ratio
Within 1year
117
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Including: -- -- -- -- -- --
100.00 100.00
Within 1year 292,106.00 245,382.00
% %
Subtotal of 100.00 100.00
292,106.00 245,382.00
Within 1year % %
Total 292,106.00 -- 245,382.00 --
In combination, withdrawal proportion of bad debt provision based on balance proportion for account receivable
□ Applicable√ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for account receivable
□ Applicable√ Not applicable
Accounts with single significant amount and bad debts provision accrued individually at end of period
□ Applicable√ Not applicable
(2) Reversal or recovery of account receivables during the reporting period
In RMB
Basis for determination Accumulated provision of
Contents of account Reason for reversal of Amounts reversed or
of original bad debt bad debt reserve before
receivables recovery recovered
reserve reversal or recovery
Total -- -- 0.00 --
Provision for bad debt reserve for account receivable with single significant or minor amount but tested for impairment separately as at
period-end:
In RMB
Contents of account
Book balance Bad debt amount Provision proportion (%) Reason
receivables
Total 0.00 0.00 -- --
Explanation for account receivable with single minor amount while the risks of the group categorized with similar risk characteristics
are relative significant:
Nil
(3) Account receivables actually written-off during the reporting period
In RMB
Name of the Nature of account Arising from related
Time of write-off Amount written off Reason for write-off
company receivables transactions (Y/N)
Total -- -- 0.00 -- --
Explanation for write-off of account receivables:
Nil
118
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(4)Account receivables due from the shareholders holding 5% or above voting shares of the Company
during the reporting period
In RMB
Period-end Period-begin
Name of the company Bad debt provision Bad debt provision
Book balance Book balance
accrual accrual
Total 0.00 0.00 0.00 0.00
(5) Properties and contents of other accounts receivable with large amount
Nil
(6) Top 5 account receivable
In RMB
Relationship with the Proportion in total
Name of the company Amount Terms
Company account receivables (%)
Shenzhen Emmelle
Controlling subsidiary 292,106.00 Within 1year 100.00%
Industrial Co., Ltd.
Total -- 292,106.00 -- 100.00%
(7) Account receivables due from related parties
In RMB
Proportion in total account
Name of the company Relationship with the Company Amount
receivables (%)
Shenzhen Emmelle Industrial
Controlling subsidiary 292,106.00 100.00%
Co., Ltd.
Total -- 292,106.00 100.00%
(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
Nil
119
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
2. Other accounts receivable
(1) Other accounts receivable
In RMB
Period-end Period-begin
Types Book balance Bad debt provision Book balance Bad debt provision
Amount Ratio Amount Ratio Amount Ratio Amount Ratio
Other receivable of bad debt provision withdrawal by combination
Other receivable of bad debt
100.0 100.0
provision withdrawal by 17,420,493.48 1,356.41 0.01% 116,990,372.76
0% 0%
combination
100.0 100.0
Subtotal of group 17,420,493.48 1,356.41 0.01% 116,990,372.76
0% 0%
Total 17,420,493.48 -- 1,356.41 -- 116,990,372.76 -- --
Explanation for category of other receivables:
Based on the size, business nature and customer settlement condition of the company, the company decides that RMB 5 million of other
accounts receivable is important single sum of payment. For the other account receivable without depreciation at the end of the period,
the bad debt allowance is accrued on the basis of account aging analysis method.
Other receivable with single significant amount and withdrawal bad debt provision separately at end of period
□ Applicable√ Not applicable
In combination, other accounts receivable whose bad debts provision was accrued by age analysis
√ Applicable□ Not applicable
In RMB
Period-end Period-begin
Age Book balance Book balance
Bad debt provision Bad debt provision
Amount Ratio Amount Ratio
Within 1year
Including: -- -- -- -- -- --
100.00 100.00
Within 1year 17,420,493.48 1,356.41 116,990,372.76
% %
Subtotal of 100.00 100.00
17,420,493.48 1,356.41 116,990,372.76
Within 1year % %
Total 17,420,493.48 -- 1,356.41 116,990,372.76 --
In combination, withdrawal proportion of bad debt provision based on balance proportion for other account receivable
□ Applicable√ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for other account receivable
120
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
□ Applicable√ Not applicable
Other receivable with single minor amount while withdrawal bad debt provision separately at end of period
□ Applicable√ Not applicable
(2) Reversal or recovery of other receivables during the reporting period
In RMB
Basis for determination Accumulated provision of
Reason for reversal of Amounts reversed or
Contents of other receivables of original bad debt bad debt reserve before
recovery recovered
reserve reversal or recovery
Total -- -- 0.00 --
Provision for bad debt reserve for other receivable with single significant or minor amount but tested for impairment separately as at
period-end:
In RMB
Contents of account
Book balance Bad debt amount Provision proportion Reason
receivables
Total 0.00 0.00 -- --
Explanation for other receivable with single minor amount while the risks of the group categorized with similar risk characteristics are
relative significant:
Nil
(3) Other receivables actually written-off during the reporting period
In RMB
Name of the Nature of other Arising from related
Time of write-off Amount written off Reason for write-off
company receivables transactions (Y/N)
Total -- -- 0.00 -- --
Explanation for write-off of other receivables:
Nil
(4) Other receivables due from the shareholders holding 5% or above voting shares of the Company during
the reporting period
In RMB
Period-end Period-begin
Name of the company Bad debt provision Bad debt provision
Book balance Book balance
accrual accrual
Total 0.00 0.00 0.00 0.00
121
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
(5) Nature or content of other receivables with significant amount
Contact with EMMELLE, refers to the current accoutns
(6) Top 5 other receivable
In RMB
Percentage in total
Relationship with the
Name of the company Amount Terms accounts receivable
Company
amount (%)
Shenzhen Emmelle
Controlling subsidiary 16,975,813.48 Within 1year 97.45%
Industrial Co., Ltd.
Total -- 16,975,813.48 -- 97.45%
(7) Other receivables due from related parties
In RMB
Proportion in total other
Name of the company Relationship with the Company Amount
receivables (%)
Shenzhen Emmelle Industrial
Controlling subsidiary 16,975,813.48 97.45%
Co., Ltd.
Total -- 16,975,813.48 97.45%
(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
Nil
3. Long-term equity investment
In RMB
Proportio Explanati Impairme
Proportio
n of on on the nt
n of share
Increase/d voting incongruit Impairme provision Cash
Invested Calculatio Investme Opening Closing holding in
ecrease(+, rights in y in share nt of bonus this
company n method nt cost balance balance invested
-) invested holding provision accruing period
company
company proportio this
(%)
(%) n and period
122
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
voting
proportio
n in
invested
company
Shenzhen
Emmelle Cost 2,000,000 2,000,000 2,000,000 1,389,620
70.00% 70.00%
Industrial method .00 .00 .00 .27
Co., Ltd.
2,000,000 2,000,000 2,000,000 1,389,620
Total -- -- -- --
.00 .00 .00 .27
Explanation on long-term equity investment
Nil
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
Other operating income 3,703,766.10 13,184,719.87
Total 3,703,766.10 13,529,519.88
Operating cost 2,536,032.31 4,562,602.46
(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 bicycles 344,800.01 296,730.28
Total 344,800.01 296,730.28
(3) Main business (by product)
In RMB
Amount of this period Amount of last period
Product
Operating income Operating cost Operating income Operating cost
Bicycles 344,800.01 296,730.28
Total 344,800.01 296,730.28
(4) Main business (by districts)
In RMB
123
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Amount of this period Amount of last period
Districts
Operating income Operating cost Operating income Operating cost
Shenzhen 344,800.01 296,730.28
Total 344,800.01 296,730.28
(5) The operating income of the top five customers of the Company
In RMB
The percentage in all
Client Total operation revenue operating revenue of the
Company (%)
Tenant 2,271,523.36 61.33%
Total 2,271,523.36 61.33%
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
Invested company Amount of this period Reasons of change (+,-)
period
Total 0.00 0.00 --
(3) Income of long-term equity investment calculated based on equity
In RMB
Amount of last
Invested company Amount of this period Reasons of change (+,-)
period
Total 0.00 0.00 --
Explanation on investment income:
Nil
124
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
6. Supplementary information of cash flow statement
In RMB
Supplementary information This Period Last Period
1. adjust the net profits to be cash flow for operating activities -- --
Net profits 739,675.49 -28,904,684.82
Add: Assets impairment provision 1,356.41
Fixed assets depreciation, oil-and-gas assets loss , productive living
8,335.70 782,254.44
beings depreciation
Intangible assets amortization 376,500.00 431,431.02
Financial costs(profits fill with ―-― ) -102,659.42
Stock decreases(increases fill with ―-― ) 296,730.28
Operating receivables decrease(increases fill with ―-― ) 99,523,155.28 4,468,992.36
Operating payables increase(decreases fill with ―-― ) -100,323,783.61 -316,406.49
Cash flow net amount generated by operating activities 325,239.27 -23,344,342.63
2. significant investment financial activities not involving and cash
-- --
deposit and withdrawal
3. net changes of cash and cash equivalents -- --
Ending balance of cash 1,089,776.09 8,088,545.87
Decrease: opening balance of cash equivalents 1,080,836.82 31,432,888.50
Net increase of cash and cash equivalents 8,939.27 -23,344,342.63
7. Assets and liabilities enter into the account book with assessed value by counter purchase
Assets and liability reckoned into book with fair value while counter purchased
In RMB
Method to determine fair
Item Fair value Process of fair value Original Book value
value
Long-term equity investment from counter purchased
In RMB
Amount of long-term equity investment
Item Process of long-term equity investment
form by counter purchased
XVI. Supplementary Information
1. Current non-recurring gains/losses
In RMB
125
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
33,851.46
write-off that accrued for impairment of assets)
Other non-operating income and expenditure except for the
4,845,452.91
aforementioned items
Less: Impact on income tax 280,473.51
Impact on minority shareholders’ equity (post-tax) 30,116.58
Total 4,568,714.28 --
Explain recognition reasons item-by-item if the government subsidy reckoned into current gains/losses was the recurring gains/losses
□ Applicable√ Not applicable
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 in this period Amount in last period Period-end Period-begin
Chinese GAAP 1,874,649.46 -29,283,608.20 8,877,984.86 7,003,335.40
Items and amount adjusted by IAS
IAS 1,874,649.46 -29,283,608.20 8,877,984.86 7,003,335.40
(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 in this period Amount in last period Period-end Period-begin
Chinese GAAP 1,874,649.46 -29,283,608.20 8,877,984.86 7,003,335.40
Items and amount adjusted by foreign accounting rules
Foreign accounting rules 1,874,649.46 -29,283,608.20 8,877,984.86 7,003,335.40
Nil
(3) Reasons for the differences of accounting data under accounting rules in and out of China
Nil
126
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
3. REO and earnings per share
In RMB
Earnings per share
Profits during report period Weighted average ROE (%)
Basic EPS Diluted EPS
Net profits belong to common stock
23.61% 0.0034 0.0034
stockholders of the Company
Net profits belong to common stock
stockholders of the Company after deducting -33.93% -0.0049 -0.0049
nonrecurring gains and losses
4. Abnormalities and reasons of the accounting statement items of the Company
Item
Amount changes Changes ratio (%) Explanation
Notes receivable 9,814,204.40 Subsidiary EMMELLE’s note receivable increased in the
Period-end
Account receivabels -4,852,489.17 -68.73 Subsidiary EMMELLE’s account receivable decreased in the
Period-end
Account paid in advance 766,346.80 431.41 Subsidiary EMMELLE’s account paid in advance increased
in the Period-end
Other receivabels -106,834,961.91 -99.48 Account receivables from administrators decreased
Inventory 18,301,324.25 402.66 Subsidiary EMMELLE prepare goods for sales peak season
Fixed assets 224,309.48 98.46 Purchase new fixed assets
Account payable 15,084,736.48 151.82 Account payables increased due to the stock ready for sale
peak season from subsidiary EMMELLE
Account received in advance 2,399,900.33 66.16 Subsidiary EMMELLE’s account received in advance
increased
Tax payable -92,046,467.33 -98.15 The enterprise income tax for year of 2013 paid in the Period
Other payables -8,135,096.64 -23.27 Account payable to administrator decreased
Minority interest 482,037.04 69.31 Subsidiary EMMELLE gains profit
Sales expenses -1,732,766.42 -48.27 Sales expenses from subsidiary EMMELLE declined
Administration expenses -33,432,361.64 -86.82 Economic compensation due to restructuring paid to the
employees in lasst period
Finance expenses 100,376.85 -50.53 Interest income from the bank decreased due to the decline of
monetary funds
Non-operation income 4,836,013.37 7,289.19 The operation fund for year of 2014 was allocated by
administrator due to restructuring
Gains/losses of minority 479,416.00 18,291.06 Subsidiary EMMELLE gains profit
shareholders
127
深圳中华自行车(集团)股份有限公司 2014 年半年度报告全文
Section XI. Documents available for reference
1. Accounting statement carrying the signatures and seals of the legal representative, person in charge of accounting
and person in charge of accounting organ;
2. Original audit report with seal of the accounting firm and signature and seal of CPAs;
3. English version of the Semi-Annual Report 2014
128
