深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Shenzhen China Bicycle Company (Holdings) Limited
SEMI-ANNUAL REPORT 2018
August 2018
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深圳中华自行车(集团)股份有限公司 2018 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.
Li Hai, Principal of the Company, Sun Longlong, person in charge of accounting
works and Zhong Xiaojin, person in charge of accounting organ (accounting
principal) hereby confirm that the Financial Report of 2018 Semi-Annual
Report is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
The Company has no plan of cash bonus, dividends and capitalizing of reserves
either.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Content
Section I. Important Notice, Contents and Paraphrase .......................................... 2
Section II. Company Profile and Main Finnaical Indexes ...................................... 5
Section III. Summary of Company Business ............................................................ 8
Section IV. Discussion and Analysis of the Business .............................................. 10
Section V. Important Events ..................................................................................... 16
Section VI. Changes in Shares and Shareholders .................................................. 23
Section VII. Preferred Stock ..................................................................................... 29
Section VIII. Directors, Supervisors and Senior Executives ................................. 30
Section IX. Corporate Bonds.................................................................................... 31
Section X. Financial Report ...................................................................................... 32
Section XI. Documents available for reference..................................................... 145
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Paraphrase
Items Refers to Definition
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Section II. Company Profile and Main Finnaical Indexes
I. Company Profile
Short form of the stock Zhonghua – A, Zhonghua -B Code for share 000017, 200017
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
深圳中华自行车(集团)股份有限公司
Chinese)
Short form of the Company
深中华
(in Chinese) (if applicable)
Foreign name of the Company
Shenzhen China Bicycle Company (Holdings) Limited
(if applicable)
Short form of foreign name of
CBC
the Company (if applicable)
Legal representative Li Hai
II. Contact person and ways
Secretary of the Board Rep. of securities affairs
Name Sun Longlong Cui Hongxia, Zhong Xiaojin
Room 1201, Wantong Building, No.3002, Room 1201, Wantong Building, No.3002,
Contact adds.
Sungang East Road, Shenzhen Sungang East Road, Shenzhen
Tel. 0755-25516998,28181666 0755-25516998,28181666
Fax. 0755-28181009 0755-28181009
E-mail dmc@szcbc.com dmc@szcbc.com
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found more details in Annual Report 2017.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation
place for semi-annual report have no change in reporting period, found more details in Annual Report 2017.
IV. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□ Yes √ No
Increase/decrease in this
Current period Same period of last year
report y-o-y
Operating revenue (RMB) 67,734,899.35 48,929,676.27 38.43%
Net profit attributable to shareholders of
554,162.06 -1,691,378.44 -132.76%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting 521,366.39 -1,902,819.26 -127.40%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
-3,362,971.19 -8,806,042.23 -61.81%
activities (RMB)
Basic earnings per share (RMB/Share) 0.0010 -0.0031 -132.26%
Diluted earnings per share (RMB/Share) 0.0010 -0.0031 -132.26%
Weighted average ROE 3.43% -12.51% 15.94%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end
Total assets (RMB) 70,833,599.30 73,559,961.28 -3.71%
Net assets attributable to shareholder of
16,452,432.91 15,898,270.85 3.49%
listed company (RMB)
V. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International
Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or
Chinese GAAP (Generally Accepted Accounting Principles) in the period.
VI. Items and amounts of extraordinary profit (gains)/loss
√Applicable □ Not applicable
In RMB
Item Amount Note
Other non-operating income and expenditure except for the
41,986.28
aforementioned items
Less: impact on income tax 17,026.35
Impact on minority shareholders’ equity (post-tax) -7,835.74
Total 32,795.67 --
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
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Section III. Summary of Company Business
I. Main businesses of the Company in the reporting period
Does the Company need to comply with the disclosure requirement of the special industry
No
The company is engaged in the main business for the bicycle business and lithium battery material business, including production,
assembly, procurement, sales of bicycles and electric bicycles, etc.
II. Major changes in main assets
1. Major changes in main assets
Major assets Note of major changes
Equity assets No major change
Fixed assets No major change
Intangible assets No major change
Construction in process No major change
Decreased 43.49% over that of period-begin, mainly because the bank acceptance was
Monetary Fund
paid on expiration in the period and the inventory increased
Decreased 100.00% over that of period-begin, mainly because the note receivables in the
Notes receivable
period are endorsed for goods payment
Increased 144.81% over that of period-begin, mainly because the advance payment for
Advance payment
purchasing lithium battery materials in the period increased
Increased 73.21% over that of period-begin, mainly because inventory are increased from
Inventory
subsidiary for peak season
2. Main overseas assets
□ Applicable √ Not applicable
III. Core Competitiveness Analysis
Does the Company need to comply with the disclosure requirements of the special industry
No
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
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
such as market development, product development, quality management and sales of e-commerce, extended and expansion the
application of upstream & downstream industry for the industrial chain step by step, 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.
Furthermore, we strive to planning the privately placement in the period and hope to improve the operation ability and development
strength of the Company. The Resolution Relating to Adjustment of the Non-public Offer of A Shares Plan and the Resolution
Relating to the Plan of Non-public Offer of A Shares (the 3rd Amendment) were considered and approved by the Company at the 4th
extraordinary meeting of the 10th session of the board of directors and the 1st extraordinary general meeting for 2018 held in January
and February, respectively. The specific works are underway.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Section IV. Discussion and Analysis of the Business
I. Introduction
In first half of 2018, the international political and economical situation was complex and severe, structural
problems and deep-seated contradictions in the domestic economic development were highlighted, economic
downturn pressure continued to increase, many unstable and uncertain factors still existed, which affected and
impacted the traditional manufacturing industries and the social consumption structure demand. Under the
leadership of central government and governments at all levels, the whole nation strengthened their confidence,
overcame difficulties, and forged ahead, and achieved steady progress in economic and social development, and
the economic fundamentals were continuously consolidated and developed. As a sector in the traditional
manufacturing field, the bicycle industry continued the dilemma of rise in labor cost, manufacturing costs, cost of
capital, and material costs. Due to the low entry barriers of the industry and the large number of manufacturers,
the market competition was fierce and the industry reshuffle intensified. The shared bicycle brands like Mobike
were quickly promoted with financial advantages, further met the users’ needs, and squeezed the market space of
traditional bicycle enterprises. At the same time, as a traditional manufacturing industry, the bicycle industry also
ushered in the “Made in China 2025” strategy, under the guidance of the basic principles of “Innovation Driven,
Quality First, Green Development, Structure Optimization, and Talent Based”, took the important opportunity to
speed up the transformation and upgrading, and also faced with the important challenges of e-commerce
development impacts on channels, channel integration and Internet+.
China has the world’s largest production and marketing of electric bicycles, after years of development, electric
bicycles have gradually become an important means of transportation for consumers on everyday short-distance
trips, at present, there are about 200 million bicycles in the entire society. Structural body, motor, power battery,
and control system are the core components of electric bicycles, Shenzhen China Bicycle has been closely
following up the research on their technological development, application development, and commercial value for
a long period of time, and has determined the qualified suppliers for core components year by year. The
non-public offering of shares for fund-raising investment project of Shenzhen China Bicycle being planned and
prepared at present also covers the application researches on switched reluctance motors, super-capacitor batteries,
new materials, electric car bus control systems, wearable devices, intelligent positioning lock systems, etc. As one
of the core components, electric bicycle power batteries have been mainly lead-acid batteries in the past decade or
two, with the development and popularization of new energy technologies and new energy materials, it is
expected to be replaced by the lithium batteries in the future. According to the strategy guidelines of “Made in
China 2025” by the State Council and the spirit of standardization reform, the Ministry of Industry and
Information Technology, the Ministry of Public Security, the State Administration for Industry and Commerce,
and the General Administration of Quality Supervision, Inspection and Quarantine have introduced a new national
standard for electric bicycles to comprehensively improve the safety performance of electric bicycles, adjust and
improve the speed limit, vehicle quality, pedaling and riding ability and other technical indicators. New standards
not only are close to people’s livelihood, but also improve the application space for lithium battery energy storage,
and lithium battery electric bicycles usher in a new stage of development.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Under this background, in first half 2018, the company combined with its actual situation of weak economic
foundation after restructuring, on the one hand, adhered to taking the traditional business model development as
the principle, strengthened the product research and development efforts, and constantly optimized and adjusted
the product structure and sales model transformation, according to the e-commerce transformation of business
team and the cost control way of internal introduction and external connection, and actively expanded the
e-commerce business model; on the one hand, correspondingly carried out the tracking study on industrial projects
and technology applications of upstream and downstream of industrial chain in the long-term process of electric
bicycle business, strived to expand the lithium battery materials business based on the extensive business
consultation and business opportunity sifting, and took it as an opportunity to gradually expand its main business;
on the other hand, strived to promote the selection work of the company's restructuring, planned the non-public
offering of shares, and started the business upgrades and connection work of the offline sales platform for sports
experience and R & D center construction projects.
In preparation for non-public offering of shares, in July 2016, the company initiated the planning and preparation
for non-public offering of shares and engaged securities companies, lawyers, accountants, and other intermediary
agencies to carry out various tasks. Since then, the nineteenth (temporary) meeting, the twenty-second (temporary)
meeting, and the twenty-sixth (temporary) meeting of the ninth session of board of directors of the company, and
the second extraordinary shareholders’ meeting in 2017 reviewed and approved the relevant proposals on
non-public offering of shares. Combining the capital market with the actual situation of the company, from
January to February, 2018, the fourth (temporary) meeting of the 10th session of board of directors and the first
extraordinary shareholders’ meeting of the company in 2018 reviewed and approved the Proposal on Adjusting
the Plan for the Company’s Non-Public Offering of A-Shares, and the Proposal on the Plan for the Company’s
Non-Public Offering of A-Shares (three revised versions) and other relevant proposals. According to the above
proposals, the total amount of funds raised in this non-public offering of shares did not exceed 750 million Yuan,
and planned to invest 680 million Yuan for the “online and offline marketing network platform construction and
upgrade project” and planned to invest 70 million Yuan for the “R&D center construction project after deducting
the issuance costs.
Under the background that the traditional manufacturing industry at home was still sluggish, in accordance with
the guidelines of “Made in China 2025”, the company insisted on accelerating its professional transformation and
e-commercial transformation, striving to expand its main business, strengthening the structural adjustment,
intensifying the quality management, strengthening cost control, improving the ability of traditional enterprises to
adapt to economy new normal and participate in market competition. Through various efforts, the company
achieved operating revenue of 67,734,900 Yuan and net profit of 491,900 Yuan in first half of 2018, of which, the
net profit attributable to shareholders of listed companies was 554,200 Yuan. The company’s operations remained
stable and have injected new development potential.
II. Main business analysis
See the “I-Introduction” in “Discussion and Analysis of the Business”
Y-o-y changes of main financial data
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
In RMB
Current period Same period last year y-o-y changes (+,-) Reasons
New business of lithium
Operating revenue 67,734,899.35 48,929,676.27 38.43% battery increased in the
period
New business of lithium
Operating costs 61,164,206.33 45,686,272.83 33.88% battery increased in the
period
Sales expenses 2,755,927.53 2,468,701.87 11.63%
Administration expenses 3,309,720.24 3,339,531.50 -0.89%
Income from bank
Finance expenses -260,975.81 -201,564.91 29.47%
interest declined
Total profit in the period
Income tax expenses 233,133.98 11,629.41 1,904.69%
growth
Current liability were
Net cash flow arising
-3,362,971.19 -8,806,042.23 -61.81% paid in last period and
from operating activities
inventory increased
Net cash flow arising
from investment -31,940.00 -100.00%
activities
Current liability were
Net increase of cash and
-3,362,971.19 -8,837,982.23 -61.95% paid in last period and
cash equivalent
inventory increased
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period.
Constitution of main business
In RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Operating
Operating cost Gross profit ratio operating revenue operating cost profit ratio over
revenue
over same period over same period same period of
of last year of last year last year
According to industries
Sales of bicycles
and accessories 43,534,007.87 39,127,940.50 10.12% -11.03% -14.36% 3.49%
and fittings
Lithium battery
24,200,891.48 22,036,265.83 8.94% 100.00% 100.00% 8.94%
materials
According to products
Sales of bicycles
and accessories 43,534,007.87 39,127,940.50 10.12% -11.03% -14.36% 3.49%
and fittings
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Lithium battery
24,200,891.48 22,036,265.83 8.94% 100.00% 100.00% 8.94%
materials
According to region
Domestic 67,734,899.35 61,164,206.33 9.70% 38.43% 33.88% 3.07%
III. Analysis of the non-main business
□Applicable √ Not applicable
IV. Assets and liability
1. Major changes of assets composition
In RMB
End of same period of last
End of the Period
year Ratio
Notes of major changes
Ratio in total Ratio in total changes
Amount Amount
assets assets
Monetary fund 15,814,304.99 22.33% 15,177,305.48 31.00% -8.67%
Account
34,951,941.66 49.34% 10,621,799.74 21.70% 27.64% Receivable from clients increased
receivable
Inventory 4,810,375.32 6.79% 6,085,173.94 12.43% -5.64%
Fix assets 3,756,571.22 5.30% 3,615,758.14 7.39% -2.09%
Advance payment for purchasing
Advance payment 6,076,785.42 8.58% 1,496,894.88 3.06% 5.52%
lithium battery materials increased
2. Assets and liability measured by fair value
□ Applicable √ Not applicable
3. Assets rights restricted till end of the period
Purchasing six properties of Lianxin Garden with original value of 2,959,824.00 Yuan in 2016; the property purchasing refers to the
indemnificatory housing for enterprise talent buying from Shenzhen Housing and Construction Bureau of Luohu District. According
to the agreement, the enterprise shall not carrying any kind of property trading with any units or individuals except the government,
and the company has no property certification on the above mentioned properties.
V. Investment
1. Overall situation
□ Applicable √ Not applicable
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
2. The major equity investment obtained in the reporting period
□ Applicable √ Not applicable
3. The major non-equity investment doing in the reporting period
□ Applicable √ Not applicable
4. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The Company had no securities investment in Period.
(2) Derivative investment
□ Applicable √ Not applicable
The Company has no derivatives investment in Period.
VI. Sales of major assets and equity
1. Sales of major assets
□ Applicable √ Not applicable
The Company has no sales of major assets in Period.
2. Sales of major equity
□ Applicable √ Not applicable
VII. Analysis of main holding company and stock-jointly companies
√Applicable □ Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
In RMB
Company Main Register Operating Operating
Type Total assets Net Assets Net profit
name business capital revenue profit
Shenzhen
Sales of
Emmelle 31,609,935.1 44,367,011.1 -181,366.3
Subsidiary bicycles and 2000000 9,668,180.05 -207,485.52
Industry Co., 1 8 9
accessories
Ltd.
Particular about subsidiaries obtained or disposed in report period
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
□ Applicable √ Not applicable
Notes of holding and shareholding companies
The Company holds 70 percent equity of the Shenzhen Emmelle Industry Co., Ltd., the balance of minority equity at period-end
amounting to 2900454.02 Yuan.
VIII. Structured vehicle controlled by the Company
□ Applicable √ Not applicable
IX. Prediction of business performance from January – September 2018
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
X. Risks and countermeasures
The tough international economic situation: The domestic economy is at the structural adjustment stage in the course of development,
structural problems and deep-seated conflicts are highlighted. The economic downturn pressure continues to increase, many unstable
and uncertain factors exist, which affect and impact the traditional manufacturing industries and the social consumption structure
demand. Since the domestic economy is at the structural adjustment stage, coupled with a difficult situation of continuously rising
labor cost, manufacturing cost, financing cost and material cost the bicycle industry as a conventional manufacturing field recorded a
decline in the market turnover. Due to the low entry threshold and numerous manufacturers, the competition in the market is
extremely fierce. The bicycle sharing brands such as Mobike have obtained large amount of financing and rapid promotion, but also
further digested the user's demand, and squeezed the market space of traditional bicycle enterprises.
Faced with the above problems, combine actual condition of financially insecure after reorganization, on the one hand, we adhere to
traditional business model development, strengthen R&D of the products, and continue to optimize the structure for products and
sales mode. According to the electricity supplier transformation and inner lead of the cost controlling, the Company proactively
develop the electricity supplier business model; on the one hand, correspondingly carry out the tracking study on industrial projects
and technology applications of upstream and downstream of industrial chain in the long-term process of electric bicycle business,
start getting involved in the lithium battery materials business based on the extensive business consultation and business opportunity
sifting, and take it as an opportunity to gradually expand its main business; on the other hand, we strive to promote the selection for
recombinant party, planning a private placement of shares, and carry out a sport experience sales platform online and offline and the
construction of R&D center, recently the business upgrade still in process.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Section V. Important Events
I. In the report period, the Company held annual shareholders’ general meeting and
extraordinary shareholders’ general meeting
1. Shareholders’ General Meeting in the report period
Ratio of investor Index of
Session of meeting Type Date Date of disclosure
participation disclosure
Notice of
Resolution of First
First Extraordinary Extraordinary
Extraordinary
shareholders shareholders
12.59% 2018-02-13 2018-02-13 shareholders
general meeting general
general meeting
2018 meeting
2018 (No.:
2018006)
Notice of
Annual Resolution of
Annual General
General 12.45% 2018-06-19 2018-06-19 Annual General
Meeting 2017
Meeting Meeting 2017
(No.: 2018013)
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
II. Profit distribution plan and capitalizing of common reserves plan for 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.
III. Commitments that actual controller, shareholder, related parties, buyer and committed
party as the Company etc. have fulfilled during the reporting period and have not yet fulfilled
by the end of reporting period
□ Applicable √ Not applicable
No commitments that actual controller, shareholders, related parties, buyer and committed party as the Company etc. have fulfilled
during the reporting period and have not yet fulfilled by the end of reporting period
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
IV. Appointment and non-reappointment (dismissal) of CPA
Financial report has been audit or not
□ Yes √ No
Not been audited.
V. Explanation from Board of Directors, Supervisory Committee for “Qualified Opinion”
that issued by CPA
□ Applicable √ Not applicable
VI. Explanation from the Board for “Qualified Opinion” of last year’s
√Applicable □ Not applicable
On 11 May 2012, the largest shareholder and biggest creditor of the Company, Shenzhen Guocheng Energy Investment 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 Guocheng Energy according to (2012) Shenzhen Intermediate Court Po Zi No. 30 civil ruling. On the
last ten-day of October 2012, Shenzhen Municipal Intermediate People's Court ruled to reform the Company since 25th, Oct., 2012
according to (2012) Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen) Mallesons and
Shenzhen ZhengYuan Liquidation Affairs Co., Ltd. as the custodians of the Company. On the same day, 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 continues to carry out vary works proactively in order to
promoted the reorganization works.
VII. Bankruptcy reorganization
□ Applicable √ Not applicable
No bankruptcy reorganization for the Company in Period.
VIII. Lawsuits
Material lawsuits and arbitration
□ Applicable √ Not applicable
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
No significant lawsuits and arbitrations occurred in the reporting period.
Other lawsuits events
□ Applicable √ Not applicable
IX. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in Period.
X. Integrity of the Company and its controlling shareholders and actual controllers
□ Applicable √ Not applicable
XI. Implementation of the Company’s stock incentive plan, employee stock ownership plan or
other employee incentives
□ Applicable √ Not applicable
The Company has no equity incentive plan, employee stock ownership plans or other employee incentives in Period.
XII. Major related transaction
1. Related transaction with routine operation concerned
□ Applicable √ Not applicable
The Company had no related transaction with routine operation concerned in Period.
2. Related transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in Period.
3. Main related transactions of mutual investment outside
□ Applicable √ Not applicable
No main related transactions of mutual investment outside for the Company in Period.
4. Contact of related credit and debt
√Applicable □ Not applicable
Whether has non-operational contact of related liability and debts or not
√ Yes □ No
Claim receivable from related party:
18
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Whether Current
Balance at Current Current Ending
has newly
period-be recovery interest balance
Related Relations non-busin added Interest
Causes gin (10 (10 (10 (10
party hip ess capital (10 rate
thousand thousand thousand thousand
occupying thousand
Yuan) Yuan) Yuan) Yuan)
or not Yuan)
Influence on business
performance and
financial status of the N/A
Company from related
liabilities
Debts payable to related party:
Current
Balance at Current Current
newly Ending
period-begi recovery interest
Related Relationshi added balance (10
Causes n (10 (10 Interest rate (10
party p (10 thousand
thousand thousand thousand
thousand Yuan)
Yuan) Yuan) Yuan)
Yuan)
Shenzhen
Guosheng Subsidiar
Energy The largest y
650 0 0 0.00% 0 650
Investment shareholder Emmelle
Developme loan
nt Co., Ltd.
Influence on business
performance and financial
N/A
status of the Company
from related debts
5. Other significant related transactions
□ Applicable √ Not applicable
The company had no other significant related transactions in reporting period.
XIII. 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.
19
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
XIV. Significant contract and implementations
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
No trusteeship for the Company in Period.
(2) Contract
□ Applicable √ Not applicable
No contract for the Company in Period.
(3) Leasing
□ Applicable √ Not applicable
No leasing for the Company in Period.
2. Major guarantees
□ Applicable √ Not applicable
No guarantee for the Company in Period.
3. Other material contracts
□ Applicable √ Not applicable
No other material contracts for the Company in Period.
XV. Social responsibility
1. Major environmental protection
The listed Company and its subsidiary whether belongs to the key sewage units released from environmental protection department
Not applicable
Nil
2. Fulfill the precise social responsibility for poverty alleviation
(1) Targeted poverty alleviation
Nil
20
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(2) Summary of annual precision poverty alleviation
Nil
(3) Accuracy of poverty alleviation
Measurement
Target Numbers/progress
units
I. general condition —— ——
II. Implemented by detail —— ——
1. Industrial development poverty —— ——
2.Transfer employment —— ——
3. Anti-poverty by relocating in other places —— ——
4. Education poverty —— ——
5. Health poverty alleviation —— ——
6. Ecological conservation —— ——
7. Fallback protection —— ——
8. Social poverty alleviation —— ——
9. Other —— ——
III. Awards (content and level) —— ——
(4) Subsequent precision poverty alleviation program
Nil
XVI. Other major events
√Applicable □ Not applicable
In July 2016, the Company started to plan a non-public issue of shares with proceeds to be utilized to acquire
material assets. The Plan on Non-public Issue of A shares in 2016 was considered and approved by the Board of
the Company. Based on the due diligence, audit, assessment and business negation with intermediates, taking into
account the conditions of capital market and actual conditions of the Company, the Board of the Company
considered and approved the Proposal Relating to Adjusting the Plan of non-public of A Shares, the Explanation
on non-public of A-shares for year of 2016 Amendment, the Plan on Non-public Issue of A shares in 2016
(amended), the Plan on Non-public Issue of A shares in 2016 (Second Amended) and Plan on Non-public Issue of
A shares in 2016 (Third Amended) from February 2017 to February 2018. According to the three revised drafts,
the number of non-public offering of shares should not exceed 110,269,586 shares, and the total amount of funds
raised should not exceed 750 million Yuan. The total amount of raised funds for this non-public offering should
not exceed RMB 750 million, will be used for the following projects after deducting the issuance expenses: 1.
RMB 680 million of funds for “online and offline marketing network platform construction and upgrading
project”; 2. RMB 70 million of funds for “R & D center construction project”. The issuing objects of this
21
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
non-public offering include four specific investors which are Ruian Information, Zhisheng High-tech, Wansheng
Industry and Beier High-tech. The subscription amount of Ruian Information does not exceed 250 million Yuan,
and the number of subscribed shares does not exceed 36,756,529 shares; the subscription amount of Zhisheng
High-tech does not exceed 200 million Yuan, and the number of subscribed shares does not exceed 29,405,223
shares; the subscription amount of Wansheng Industry and Beier High-tech respectively does not exceed 150
million Yuan, and the number of subscribed shares does not exceed 22,053,917 shares respectively. The company
convened the first extraordinary general meeting of 2018 on February 13, 2018 which reviewed and passed the
Proposal on the Plan on Non-public Issue of A shares (Third Amended), etc. See details on the announcement
issued by the board of directors of the company.
XVII. Major event of the subsidiaries
□ Applicable √ Not applicable
22
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Section VI. Changes in Shares and Shareholders
I. Changes in Share Capital
1. Changes in Share Capital
In Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Capitalizat
New
Bonus ion of Proportio
Amount Proportion shares Others Subtotal Amount
shares public n
issued
reserve
I. Restricted shares 4,707 0.00% -750 -750 3,957 0.00%
1. State-owned shares 0 0.00% 0 0.00%
2. State-owned legal
0 0.00% 0 0.00%
person’s shares
3. Other domestic shares 4,707 0.00% -750 -750 3,957 0.00%
Including: Domestic legal
0 0.00% 0 0.00%
person’s shares
Domestic natural person’s
4,707 0.00% -750 -750 3,957 0.00%
shares
4. Foreign shares 0 0.00% 0 0.00%
Including: Foreign legal
0 0.00% 0 0.00%
person’s shares
Foreign natural person’s
0 0.00% 0 0.00%
shares
551,343,2 551,343,9
II. Unrestricted shares 100.00% 750 750 100.00%
40 90
302,980,2 302,981,0
1. RMB Ordinary shares 54.95% 750 750 54.95%
58 08
2. Domestically listed 248,362,9 248,362,9
45.05% 45.05%
foreign shares 82 82
3. Overseas listed foreign
0 0.00% 0 0.00%
shares
4. Others 0 0.00% 0 0.00%
551,347,9 551,347,9
III. Total shares 100.00% 0 0 100.00%
47 47
Reasons for share changed
23
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
√Applicable □ Not applicable
In accordance with relevatn laws and regulations, the shares held by supervisor of the Company are released for trading counted as
25%
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changes
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
2. Changes of restricted shares
√Applicable □ Not applicable
In Share
Restricted
Shares
Opening shares Shares released in Increased Ending shares Restricted
Shareholders Date for released
restricted Period In restricted reasons
the
Period
Zheng Shares held by
4,707 750 0 3,957 -
Zhonghuan supervisor
Total 4,707 750 0 3,957 -- --
II. Securities issuance and listing
□ Applicable √ Not applicable
III. Number of shares and shares held
In Share
Total preference shareholders
Total common shareholders at with voting rights recovered at
49,697 0
period-end end of reporting period (if
applicable) (note8)
24
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Particulars about common shares held above 5% by shareholders or top ten common shareholders
Number Number of share pledged/frozen
Amount
of
of Amount of
Proportion common Changes in
Nature of restricted un-restricte
Shareholders of shares shares reporting
shareholder common d common State of share Amount
held held at period
shares shares held
period-en
held
d
Shenzhen
Guocheng
Domestic
Energy 63,508,74
non-State-owned 11.52% 0 0 63,508,747 0
Investment 7
legal person
Development
Co., Ltd.
UOB Koy Hian
Foreign legal 15,907,85
(Hong Kong) 2.89% 0 0 15,907,850 0
person 0
Co., Ltd.
Guosen
Securities
Foreign legal 13,909,42
(Hong Kong) 2.52% -79000 0 13,909,425 0
person 5
brokerage Co.,
Ltd.
Huabao Trust
Co., Ltd. –
Huihuang Other 1.35% 7,435,165 -4103345 0 7,435,165 0
No.33 single
fund trust
Huabao Trust
Co., Ltd. –
Huihuang Other 1.29% 7,114,435 -65200 0 7,114,435 0
No.15 single
fund trust
Shenwan
Hongyuan
Foreign legal
Securities 1.22% 6,707,257 -130000 0 6,707,257 0
person
(Hongkong)
Co., Ltd.
Huabao Trust
Co., Ltd. –
Huihuang Other 0.80% 4,387,288 2753888 0 4,387,288 0
No.22 single
fund trust
25
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Zhongrong
International
Trust Co., Ltd.
– Zhongrong
–Dingfu No.13 Other 0.72% 3,958,923 -174900 0 3,958,923 0
structured
portfolio
investment trust
plan
Domestic nature
Li Huili 0.71% 3,891,124 0 0 3,891,124 0
person
Zhongrong
International
Trust Co., Ltd.
– Zhongrong
–Dingfu Other 0.67% 3,684,497 -407600 0 3,684,497 0
No.14structured
portfolio
investment trust
plan
Strategy investors or general
corporation comes top 10 common
N/A
stock shareholders due to rights
issue (if applicable) (see note 3)
Li Huili, spouse of the Ji Hanfei, the actual controller of he Company- Shenzhen Guosheng
Energy Investment Development Co., Ltd., holding B-share of the Company on behalf of
Explanation on associated
Shenzhen Guocheng Energy Investment Development Co., Ltd., beyond that, the Company
relationship among the aforesaid
has no idea of whether other circulated shareholders belong to concerted action persons ruled
shareholders
in the Administration Norms for Information Disclosure of Change on Shareholding of
Shareholders of Listed Companies.
Particular about top ten common shareholders with un-restrict shares held
Amount of un-restrict common shares held at Type of shares
Shareholders
period-end Type Amount
Shenzhen Guocheng Energy RMB ordinary
63,508,747 63,508,747
Investment Development Co., Ltd. shares
Domestically
UOB Koy Hian (Hong Kong) Co.,
15,907,850 listed foreign 15,907,850
Ltd.
shares
Domestically
Guosen Securities (Hong Kong)
13,909,425 listed foreign 13,909,425
brokerage Co., Ltd.
shares
26
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Huabao Trust Co., Ltd. – Huihuang RMB ordinary
7,435,165 7,435,165
No.33 single fund trust shares
Huabao Trust Co., Ltd. – Huihuang RMB ordinary
7,114,435 7,114,435
No.15 single fund trust shares
Domestically
Shenwan Hongyuan Securities
6,707,257 listed foreign 6,707,257
(Hongkong) Co., Ltd.
shares
Huabao Trust Co., Ltd. – Huihuang RMB ordinary
4,387,288 4,387,288
No.22 single fund trust shares
Zhongrong International Trust Co.,
Ltd. – Zhongrong –Dingfu No.13 RMB ordinary
3,958,923 3,958,923
structured portfolio investment trust shares
plan
Domestically
Li Huili 3,891,124 listed foreign 3,891,124
shares
Zhongrong International Trust Co.,
Ltd. – Zhongrong –Dingfu RMB ordinary
3,684,497 3,684,497
No.14structured portfolio shares
investment trust plan
Expiation on associated relationship Li Huili, spouse of the Ji Hanfei, the actual controller of he Company- Shenzhen Guosheng
or consistent actors within the top Energy Investment Development Co., Ltd., holding B-share of the Company on behalf of
10 un-restrict shareholders and Shenzhen Guocheng Energy Investment Development Co., Ltd., beyond that, the Company
between top 10 un-restrict has no idea of whether other circulated shareholders belong to concerted action persons ruled
shareholders and top 10 in the Administration Norms for Information Disclosure of Change on Shareholding of
shareholders Shareholders of Listed Companies.
Explanation on top 10 shareholders
involving margin business (if N/A
applicable) (see note 4)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□Yes √No
Top ten common shareholders or top ten common shareholders with un-restrict shares not held have a buy-back agreement dealing in
reporting period
IV. 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
27
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
28
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the reporting.
29
深圳中华自行车(集团)股份有限公司 2018 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
Found more in annual report 2017 for the changes of shares held by directors, supervisors and senior executives
II. Resignation and dismissal of directors, supervisors and senior executives
√Applicable □ Not applicable
Name Title Type Date Reason
Li Xiang Supervisor Be elected 2018-02-13 General election
Zheng
Supervisor Be elected 2018-02-13 General election
Zhonghuan
Li Jialin Supervisor Be elected 2018-02-13 General election
Li Hai President Appointment 2018-05-28 Re-engagement
30
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Section IX. Corporate Bonds
Whether the Company has corporate bonds that issuance publicly and listed on stock exchange and without due on the date when
semi-annual report approved for released or fail to cash in full on due
No
31
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Section X. 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
2018-06-30
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 15,814,304.99 27,985,654.24
Settlement provisions
Capital lent
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable 1,500,000.00
Accounts receivable 34,951,941.66 29,007,775.21
Accounts paid in advance 6,076,785.42 2,482,276.54
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 606,839.17 659,706.81
Purchase restituted finance asset
32
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Inventories 4,810,375.32 2,777,174.63
Assets held for sale
Non-current asset due within one
year
Other current assets 1,792,452.81 1,805,427.17
Total current assets 64,052,699.37 66,218,014.60
Non-current assets:
Loans and payments on behalf
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment
Investment property
Fixed assets 3,756,571.22 3,941,117.97
Construction in progress
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 1,882,500.00 2,259,000.00
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned
Deferred income tax asset 741,828.71 741,828.71
Other non-current asset 400,000.00 400,000.00
Total non-current asset 6,780,899.93 7,341,946.68
Total assets 70,833,599.30 73,559,961.28
Current liabilities:
Short-term loans
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
33
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Derivative financial liability
Notes payable 8,480,000.00
Accounts payable 10,827,725.61 3,928,197.27
Accounts received in advance 1,718,541.33 1,268,479.32
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 859,708.64 706,703.40
Taxes payable 2,733,356.50 3,807,286.87
Interest payable
Dividend payable
Other accounts payable 35,341,380.29 36,508,323.90
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 51,480,712.37 54,698,990.76
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 51,480,712.37 54,698,990.76
34
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Owner’s equity:
Share capital 551,347,947.00 551,347,947.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 627,834,297.85 627,834,297.85
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 32,673,227.01 32,673,227.01
Provision of general risk
Retained profit -1,195,403,038.95 -1,195,957,201.01
Total owner’s equity attributable to
16,452,432.91 15,898,270.85
parent company
Minority interests 2,900,454.02 2,962,699.67
Total owner’s equity 19,352,886.93 18,860,970.52
Total liabilities and owner’s equity 70,833,599.30 73,559,961.28
Legal Representative: Li Hai
Person in charge of Accounting Works: Sun Longlong
Person in charge of Accounting Institution: Zhong Xiaojin
2. Balance Sheet of Parent Company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 10,592,392.19 15,398,405.80
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable 300,000.00
Accounts receivable 17,008,339.16 17,680,663.16
Account paid in advance 5,524,648.70 2,357,662.42
Interest receivable
35
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Dividends receivable
Other receivables 255,580.95 280,576.37
Inventories
Assets held for sale
Non-current assets maturing within
one year
Other current assets 1,792,452.81 1,792,452.81
Total current assets 35,173,413.81 37,809,760.56
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term receivables
Long-term equity investments 10,379.73 10,379.73
Investment property
Fixed assets 3,189,645.44 3,309,465.26
Construction in progress
Project materials
Disposal of fixed assets
Productive biological assets
Oil and natural gas assets
Intangible assets 1,882,500.00 2,259,000.00
Research and development costs
Goodwill
Long-term deferred expenses
Deferred income tax assets
Other non-current assets 400,000.00 400,000.00
Total non-current assets 5,482,525.17 5,978,844.99
Total assets 40,655,938.98 43,788,605.55
Current liabilities:
Short-term borrowings
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes payable
36
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Accounts payable
Accounts received in advance 111,111.10 1,086,506.70
Wage payable 437,700.34 112,896.71
Taxes payable 1,773,220.21 2,806,928.48
Interest payable
Dividend payable
Other accounts payable 28,638,820.72 30,786,588.98
Liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 30,960,852.37 34,792,920.87
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 30,960,852.37 34,792,920.87
Owners’ equity:
Share capita 551,347,947.00 551,347,947.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 627,834,297.85 627,834,297.85
Less: Inventory shares
Other comprehensive income
Reasonable reserve
37
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Surplus reserve 32,673,227.01 32,673,227.01
Retained profit -1,202,160,385.25 -1,202,859,787.18
Total owner’s equity 9,695,086.61 8,995,684.68
Total liabilities and owner’s equity 40,655,938.98 43,788,605.55
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 67,734,899.35 48,929,676.27
Including: Operating income 67,734,899.35 48,929,676.27
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 67,051,835.24 51,337,023.25
Including: Operating cost 61,164,206.33 45,686,272.83
Interest expense
Commission charge and commission
expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 75,737.75 91,353.05
Sales expenses 2,755,927.53 2,468,701.87
Administration expenses 3,309,720.24 3,339,531.50
Financial expenses -260,975.81 -201,564.91
Losses of devaluation of asset 7,219.20 -47,271.09
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed
with “-”)
38
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Including: Investment income on
affiliated company and joint venture
Exchange income (Loss is listed
with “-”)
Assets disposal income (Loss is
listed with “-”)
Other income
III. Operating profit (Loss is listed with
683,064.11 -2,407,346.98
“-”)
Add: Non-operating income 72,126.28 291,710.58
Less: Non-operating expense 30,140.00
IV. Total Profit (Loss is listed with “-”) 725,050.39 -2,115,636.40
Less: Income tax expense 233,133.98 11,629.41
V. Net profit (Net loss is listed with “-”) 491,916.41 -2,127,265.81
(I) Continuous operation net profit
491,916.41 -2,127,265.81
(Net loss is listed with “-”)
(II) Discontinued operation net profit
(Net loss is listed with “-”)
Net profit attributable to owner’s of
554,162.06 -1,691,378.44
parent company
Minority shareholders’ gains and
-62,245.65 -435,887.37
losses
VI. Net after-tax of other comprehensive
income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss
(II) Other comprehensive income items
39
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
which will be reclassified subsequently to
profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method which
will be reclassified subsequently to profit
or loss
2. Gains or losses arising from
changes in fair value of available-for-sale
financial assets
3. Gains or losses arising from
reclassification of held-to-maturity
investment as available-for-sale financial
assets
4. The effect hedging portion of
gains or losses arising from cash flow
hedging instruments
5. Translation differences arising
on translation of foreign currency
financial statements
6. Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 491,916.41 -2,127,265.81
Total comprehensive income
554,162.06 -1,691,378.44
attributable to owners of parent Company
Total comprehensive income
-62,245.65 -435,887.37
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0010 -0.0031
(ii) Diluted earnings per share 0.0010 -0.0031
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal Representative: Li Hai
Person in charge of Accounting Works: Sun Longlong
Person in charge of Accounting Institution: Zhong Xiaojin
40
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
I. Operating income 24,023,518.68 3,228,905.96
Less: Operating cost 20,846,218.08 1,994,075.80
Operating tax and extras 13,741.20
Sales expenses 276,827.75
Administration expenses 2,107,312.50 2,165,755.45
Financial expenses -83,003.31 2,461.63
Losses of devaluation of asset -2,008.04
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”)
Including: Investment income
on affiliated company and joint venture
Assets disposal income (Loss is
listed with “-”)
Other income
II. Operating profit (Loss is listed
864,430.50 -933,386.92
with “-”)
Add: Non-operating income 68,105.41 259,079.00
Less: Non-operating expense
III. Total Profit (Loss is listed with
932,535.91 -674,307.92
“-”)
Less: Income tax expense 233,133.98
IV. Net profit (Net loss is listed with
699,401.93 -674,307.92
“-”)
(I) Continuous operation net profit
699,401.93 -674,307.92
(Net loss is listed with “-”)
(II) Discontinued operation net profit
(Net loss is listed with “-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
41
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss
2. Gains or losses arising from
changes in fair value of
available-for-sale financial assets
3. Gains or losses arising from
reclassification of held-to-maturity
investment as available-for-sale
financial assets
4. The effect hedging portion of
gains or losses arising from cash flow
hedging instruments
5. Translation differences arising
on translation of foreign currency
financial statements
6. Other
VI. Total comprehensive income 699,401.93 -674,307.92
VII. Earnings per share:
(i) Basic earnings per share 0.0013 -0.0012
(ii) Diluted earnings per share 0.0013 -0.0012
5. Consolidated Cash Flow Statement
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
42
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Cash received from selling
commodities and providing labor 15,792,549.13 23,451,451.79
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 amount from disposal
financial assets that measured by fair
value and with variation reckoned into
current gains/losses
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Write-back of tax received 5,306.26
Other cash received concerning
2,529,012.36 2,324,298.02
operating activities
Subtotal of cash inflow arising from
18,326,867.75 25,775,749.81
operating activities
Cash paid for purchasing
commodities and receiving labor 12,448,466.83 23,835,363.39
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
43
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 3,190,388.60 3,517,233.68
Taxes paid 1,336,400.97 1,649,135.49
Other cash paid concerning
4,714,582.54 5,580,059.48
operating activities
Subtotal of cash outflow arising from
21,689,838.94 34,581,792.04
operating activities
Net cash flows arising from operating
-3,362,971.19 -8,806,042.23
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
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
activities
Cash paid for purchasing fixed,
31,940.00
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries
and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
31,940.00
activities
Net cash flows arising from investing
-31,940.00
activities
44
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
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
-3,362,971.19 -8,837,982.23
equivalents
Add: Balance of cash and cash
19,177,276.18 24,015,287.71
equivalents at the period -begin
VI. Balance of cash and cash
15,814,304.99 15,177,305.48
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB
Item Current Period Last Period
45
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 6,974.00
services
Write-back of tax received 5,306.26
Other cash received concerning
1,963,467.24 4,981,778.23
operating activities
Subtotal of cash inflow arising from
1,975,747.50 4,981,778.23
operating activities
Cash paid for purchasing
commodities and receiving labor 17,278.04
service
Cash paid to/for staff and workers 1,237,282.20 1,439,294.18
Taxes paid 733,058.03 186,158.39
Other cash paid concerning
4,794,142.84 3,108,206.34
operating activities
Subtotal of cash outflow arising from
6,781,761.11 4,733,658.91
operating activities
Net cash flows arising from operating
-4,806,013.61 248,119.32
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
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
activities
Cash paid for purchasing fixed,
intangible and other long-term assets
46
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Cash paid for investment
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
activities
Net cash flows arising from investing
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
V. Net increase of cash and cash
-4,806,013.61 248,119.32
equivalents
Add: Balance of cash and cash
15,398,405.80 1,143,418.29
equivalents at the period -begin
VI. Balance of cash and cash
10,592,392.19 1,391,537.61
equivalents at the period -end
47
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
7. Statement of Changes in Owners’ Equity (Consolidated)
This Period
In RMB
This Period
Owners’ equity attributable to parent company
Other
equity instrument
Item Less: Other Provisio Minorit Total
Perpet Reason
Share Capital Invento compre Surplus n of Retaine y owners’
ual able
capital Prefer capita reserve ry hensive reserve general d profit interests equity
red Other reserve
l shares income risk
stock
securi
ties
551,34 -1,195,9
I. Balance at the 627,834 32,673, 2,962,6 18,860,
7,947. 57,201.
end of the last year ,297.85 227.01 99.67 970.52
00 01
Add: Changes
of accounting
policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
II. Balance at the 551,34 -1,195,9
627,834 32,673, 2,962,6 18,860,
beginning of this 7,947. 57,201.
,297.85 227.01 99.67 970.52
year 00 01
III. Increase/
Decrease in this 554,162 -62,245. 491,916
year (Decrease is .06 65 .41
listed with “-”)
(i) Total 554,162 -62,245. 491,916
comprehensive
.06 65 .41
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
48
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk
provisions
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 551,34 -1,195,4
627,834 32,673, 2,900,4 19,352,
end of the report 7,947. 03,038.
,297.85 227.01 54.02 886.93
period 00 95
Last Period
In RMB
Last Period
Owners’ equity attributable to parent company Minorit
Item Total
y
Other Capital Less: Other Reason Surplus Provisio Retaine interest owners’
Share equity
equity instrument reserve Invento compre able reserve n of d profit s
49
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
capital Perpet ry hensive reserve general
ual shares income risk
Prefer
capita
red Other
l
stock
securi
ties
551,34 -1,197,4
I. Balance at the 627,834 32,673, 2,913,1 17,281,
7,947. 86,788.
end of the last year ,297.85 227.01 27.47 811.05
00 28
Add: Changes
of accounting
policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
II. Balance at the 551,34 -1,197,4
627,834 32,673, 2,913,1 17,281,
beginning of this 7,947. 86,788.
,297.85 227.01 27.47 811.05
year 00 28
III. Increase/
Decrease in this 1,529,5 49,572. 1,579,1
year (Decrease is 87.27 20 59.47
listed with “-”)
(i) Total 1,529,5 49,572. 1,579,1
comprehensive
87.27 20 59.47
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk
50
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
provisions
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 551,34 -1,195,9
627,834 32,673, 2,962,6 18,860,
end of the report 7,947. 57,201.
,297.85 227.01 99.67 970.52
period 00 01
8. Statement of Changes in Owners’ Equity (Parent Company)
This Period
In RMB
This Period
Other
equity instrument
Other Total
Item Share Perpetu Less: Retaine
Capital comprehe Reasonab Surplus
al Inventory owners’
capital Preferre reserve nsive le reserve reserve d profit
capital Other shares equity
d stock income
securiti
es
I. Balance at the 551,347, 627,834,2 32,673,22 -1,202,8 8,995,684
end of the last year 947.00 97.85 7.01 59,787. .68
51
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
18
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the -1,202,8
551,347, 627,834,2 32,673,22 8,995,684
beginning of this 59,787.
947.00 97.85 7.01 .68
year 18
III. Increase/
Decrease in this 699,401 699,401.9
year (Decrease is .93 3
listed with “-”)
(i) Total 699,401 699,401.9
comprehensive
.93 3
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
52
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 551,347, -1,202,1
627,834,2 32,673,22 9,695,086
end of the report 60,385.
947.00 97.85 7.01 .61
period 25
Last period
In RMB
Last period
Other
equity instrument
Other Total
Item Perpetu Less:
Share Capital comprehe Reasonab Surplus Retaine
al Inventory owners’
capital Preferre reserve nsive le reserve reserve d profit
capital Other shares equity
d stock income
securiti
es
-1,204,2
I. Balance at the 551,347, 627,834,2 32,673,22 7,581,765
73,705.
end of the last year 947.00 97.85 7.01 .88
98
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the -1,204,2
551,347, 627,834,2 32,673,22 7,581,765
beginning of this 73,705.
947.00 97.85 7.01 .88
year 98
III. Increase/ 1,413,9 1,413,918
Decrease in this
18.80 .80
year (Decrease is
53
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
listed with “-”)
(i) Total 1,413,9 1,413,918
comprehensive
18.80 .80
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
54
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(VI)Others
IV. Balance at the 551,347, -1,202,8
627,834,2 32,673,22 8,995,684
end of the report 59,787.
947.00 97.85 7.01 .68
period 18
III. Company Profile
1. History and basic information
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. Registered capital of the Company amounted as
551,347,947.00 Yuan.
Legal representative: Li Hai
Location: No. 3008, Buxin Road, Luohu District, Shenzhen
Certificate for Uniform Social Credit Code: 914403006188304524
2. Business nature and main operation activities
The Company's industry: machinery manufacturing industry
Main operation activities: 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 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 the
reorganization plan was completed on 27 December 2013 with bankruptcy proceedings terminated. Meanwhile,
makes greater efforts to develop and research the new products, and creates a range of electrical bicycles to
occupy the domestic market.
Main products and services provided so far: EMMELLE bicycles, electrical bicycles and lithium battery material
3. Release of the financial report
The Financial Report released on 21 August 2018 after approved by 8th session of 10th BOD of the Company
One subsidairy included in consolidate scope in the period, and no changes in the period, found more in Note VIII
and IX
55
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
IV. Compilation Basis of Financial Statement
1. Compilation Basis
The financial statement is prepared based on continuing operation assumptions, and according to actual
occurrence, in line with relevant accounting rules and follow important accounting policy and estimation.
2. Going concern
On 11 May 2012, the largest shareholder and biggest creditor of the Company, Shenzhen Guosheng Energy
Investment 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 12 October 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. On the last ten-day of October 2012,
Shenzhen Municipal Intermediate People's Court ruled to reform the Company since 25 October 2012 according
to (2012) Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen)
Mallesons and Shenzhen ZhengYuan Liquidation Affairs Co., Ltd. as the custodians of the Company. On the same
day, 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
the Company 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.
V. Main accounting policy and Accounting Estimate
Tips for specific accounting policy and estimate:
Nil
56
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
1. Declaration on compliance with accounting standards
The financial statement prepared by the Company, based on follow compilation basis, is comply with the
requirement of new accounting standards for business enterprise issued by Ministry of Finance and its application
guide, commentate as well as other regulations (collectively referred to as Accounting Standards for Business
Enterprise), which is reflect a real and truth financial status of the Company, as well as operation results and cash
flow situations.
Furthermore, the statement has reference to the listing and disclosure requirement from “Rules Governing the
Disclosure of Information for Enterprise with Stock Listed No.15-general regulation of financial report” (2014
Revised) (hereinafter referred to as NO. 15 (2014 Revised) document)
2. Accounting period
Calendar year is the accounting period for the Company, which is starting from 1 January to 31 December.
3. Business cycles
The business period for the Company, which is the Gregorian calendar starting from 1 January to 31 December
4. Recording currency
The Company and its subsidiaries take RMB as the standard currency for bookkeeping.
5. Accounting treatment for business combinations under the same control and those not under the same
control
①The business combination under the same control
For a business merger that is under the same control and is achieved by the Company through one single
transaction or multiple transactions, assets and liabilities obtained from that business combination shall be
measured at their book value at the combination date as recorded by the party being absorbed in the consolidated
financial statement of ultimate controlling party. Capital reserve shall be adjusted as per the difference between
the book value of obtained net assets and the book value of paid consolidated consideration (or the nominal value
of the issued shares) of the Company; retained earnings shall be adjusted if the capital reserve is not sufficient for
offset.
The asset or liability items of consolidated party are measured at their carrying value in the consolidated balance
sheet as of the consolidation date. Consolidated Profit and Loss include all items of income, expenditures and
profit from beginning till end of the period of the consolidated party(ies). Net profit made by the consolidated
company should be listed exclusively in the consolidated Profit and Loss. Cash flows from beginning till end of
the period of all consolidated parties are taken into the consolidated Cash Flow.
57
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
②The business combinations not involving enterprises under common control
The Company will validate the difference that the combined cost is more than the fair value of the net identifiable
assets gained from the acquiree on the acquisition date as goodwill; where the combined cost is less than the fair
value of net identifiable assets gained from the acquiree during business combination, the fair value and combined
cost of various identifiable assets, liabilities and contingent liabilities from the acquiree must be rechecked. Where
the combined cost is, after the recheck, still less than the fair value of net identifiable assets gained from the
acquiree during business combination, the difference shall be charged to current profits and losses.
As for business combination not under common control and realized through multiple transactions and by steps,
the Company shall make accounting treatment as follows:
A. Adjust the initial investment cost of long-term equity investments. As for stock equities held before the
acquisition date accounted according to the equity method, re-measurement is carried out according to the fair
value of the equity on the acquisition date. The balance between the fair value and the book value is included
in the current investment income. If the acquiree’s stock equities held before the acquisition date involves
changes of other comprehensive incomes and other owner's equities under accounting with the equity method,
the balance between the fair value and the book value is included in the current investment income on the
acquisition date, excluding other comprehensive incomes incurred by changes due to re-measurement of net
liabilities or net assets of the defined benefit plan.
B. Confirm the goodwill (or include the amount in the profits and losses). The initial investment cost of long-term
equity investments adjusted in step 1 is compared with the fair value of net identifiable assets of the subsidiary
shared on the acquisition date. If the former is greater than the latter, the balance is confirmed as goodwill; if
the former is less than the latter, the balance is included in the current profits and losses.
(2)Loss of control of a subsidiary in multiple transactions in which it disposes equity interests of its subsidiary in
stages
①In determining whether to account for the multiple transactions as a single transaction
A parent shall consider all the terms and conditions of the transactions and their economic effects. One or more of
the following may indicate that the parent should account for the multiple arrangements as a single transaction:
A. Arrangements are entered into at the same time or in contemplation of each other;
B. Arrangements work together to achieve an overall commercial effect;
C. The occurrence of one arrangement is dependent on the occurrence of at least one other arrangement;
D. One arrangement considered on its own is not economically justified, but it is economically justified when
considered together with other arrangements.
②Accounting treatment for each of the multiple transactions forming part of a bundled transactions which
eventually results in loss of control the subsidiary during disposal of its subsidiary in stages
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If each of the multiple transactions forms part of a bundled transactions which eventually results in loss of control
the subsidiary, these multiple transactions should be accounted for as a single transaction. In the consolidated
financial statements, the difference between the consideration received and the corresponding percentage of the
subsidiary’s net assets in each transaction prior to the loss of control shall be recognized in other comprehensive
income and transferred to the profit or loss when the parent eventually loses control of the subsidiary.
The remaining equity investment shall be re-measured at its fair value in the consolidated financial statements at
the date when control is lost. The difference between the total amount of consideration received from the
transaction that resulted in the loss of control and the fair value of the remaining equity investment and the share
of net assets of the former subsidiary calculated continuously from the acquisition date or combination date based
on the previous shareholding proportion, shall be recognized as investment income for the current period when
control is lost. The amount previously recognized in other comprehensive income in relation to the former
subsidiary’s equity investment should be transferred to investment income for the current period when control is
lost
③Accounting treatment for each of the multiple transactions NOT forming part of a bundled transactions which
eventually results in loss of control the subsidiary during disposal of its subsidiary in stages
If the Company doesn't lose control of investee, the difference between the amount of the consideration received
and the corresponding portion of net assets of the subsidiary shall be adjusted to the capital reserve (capital
premium) in the consolidated financial statements.
If the Company loses control of investee, the remaining equity investment shall be re-measured at its fair value in
the consolidated financial statements at the date when control is lost. The difference between the total amount of
consideration received from the transaction that resulted in the loss of control and the fair value of the remaining
equity investment and the share of net assets of the former subsidiary calculated continuously from the acquisition
date or combination date based on the previous shareholding percentage, shall be recognized as investment
income for the current period when control is lost. The amount previously recognized in other comprehensive
income in relation to the former subsidiary’s equity investment should be transferred to investment income for the
current period when control is lost.
6. Compilation method of consolidated financial statement
Consolidated financial statements are prepared by the Company in accordance with Accounting Standard for
Business Enterprise No. 33-Consolidated Financial Statements and based on financial statements of parent
company and its subsidiaries and other related information.
When consolidating the financial statements, the following items are eliminated: internal equity investment and
owners’ equity of subsidiaries, proceeds on internal investments and profit distribution of subsidiaries, internal
transactions, internal debts and claim. The accounting policies adopted by subsidiaries are the same as parent
company.
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7. Classification of joint venture arrangement and accounting treatment for joint control
(1) Affirmation and classification of joint venture arrangement
Joint arrangement refers to an arrangement controlled by two or more than two participants. Joint venture
arrangement has the following characteristics: 1) Each participant is bound by the arrangement; 2) Two or more
participants carry out joint control on implementation of the arrangement. Any participant cannot control the
arrangement independently. Any participant for joint control can stop other participants or participant
combinations to independently control the arrangement.
Joint control refers to the sharing of control over certain arrangement under related agreements, and related
activities of the arrangement must be determined only when obtaining the unanimous consent of the parties
sharing control.
Joint venture arrangement is classified in to joint operation and joint venture. Joint operation refers to an
arrangement that a joint party enjoys assets related to the arrangement and bears liabilities related to the
arrangement. Joint venture refers to an arrangement that a joint party only has the power governing net assets of
the arrangement.
(2) Accounting treatment of joint venture arrangement
Joint venture participants should confirm the following items related to interest shares in joint venture and carry
out accounting settlement according to relevant provisions of the Accounting Standards for Business Enterprises:
1) confirm the assets held separately and confirm the assets held jointly based on shares; 2) confirm the liabilities
borne separately and confirm the liabilities borne jointly based on shares; 3) confirm the income incurred after
selling its shares in joint venture output; 4) confirm the income after selling the joint venture outputs based on
shares; 5) confirm the expenses incurred separately and confirm the expenses incurred in joint venture based on
shares.
Joint venture participants should carry out accounting settlement for investments of the joint venture according to
provisions of Accounting Standards for Business Enterprises No.2–Long-term Equity Investments.
8. Recognition of cash and cash equivalents
Cash in cash flow statement means the inventory cash and savings available for use anytime. Cash equivalents
refer to the short-term (generally due within three months since the date of purchase) highly liquid investments
that are readily convertible into known amounts of cash and that are subject to an insignificant risk of change in
value.
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9. Foreign currency transaction and financial statement conversion
(1)Conversion for foreign currency transaction
When initially recognized, the foreign currency for the transaction shall be converted into CNY amount according
to the spot exchange rate on the date of transaction. For the foreign currency monetary items, conversion must be
based on the spot exchange rate on the balance sheet date and the exchange difference incurred from different
exchange rates, except for the exchange difference of principal and interest incurred due to foreign currency loan
related to acquisition or construction of assets that qualify for capitalization, shall be charged to current profits and
losses; foreign currency non-monetary items measured with historical cost are still converted as per the spot
exchange rate on the transaction date and keep the RMB amount unchanged; foreign currency non-monetary items
measured with fair value shall be converted as per the spot exchange rate on the date of determining the fair value
and the difference shall be charged to current profits and losses or other comprehensive income.
(2)Conversion of financial statements presented in foreign currencies
The asset and liability items in the balance sheet shall be converted at the spot exchange rate on the balance sheet
date; the owner’s equity items, except for the items of “undistributed profit”, shall be converted at the spot
exchange rate on the transaction date; the income and expenditure items in the profit statement shall be converted
at the spot exchange rate on the transaction date. The translation difference of foreign financial statements
conducted as above is recognized as other comprehensive incomes.
10. Financial instruments
(1) Classification of financial instruments
Financial assets can be divided into four types while initially recognized: financial assets at fair value through
profit or loss (including transactional financial assets and those financial assets designated as at fair value through
profit or loss), held-to-maturity investments; loans & receivables; available-for-sale financial assets.
Financial liability can be divided into two types while initially recognized: financial liability at fair value through
profit or loss (including transactional financial liability and those financial liabilities designated as at fair value
through profit or loss) and other financial liability
(2)Recognition, measurement and derecognition of financial assets and financial liabilities
Financial assets or financial liabilities are recognized when the Group becomes a party to the contractual
provisions of the instrument. Financial assets or financial liabilities are initially measured at fair value. For
financial assets and financial liabilities at fair value through profit or loss, transaction costs are immediately
recognized to profit or loss. For other financial assets or financial liabilities, transaction costs are included in their
initial recognized amounts.
Financial assets are subsequently measured at fair value without considering of the possible transaction costs upon
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the disposal thereof in the future, except that: (1) Held-to-maturity investments and loans and receivables are
subsequently measured at amortized cost using the effective interest method; and (2) Investments in equity
instruments that do not have a quoted price in an active market and whose fair value cannot be reliably measured,
and derivative financial assets that are linked to and must be settled by delivery of such unquoted equity
instruments, they are measured at cost.
Financial liabilities are subsequently measured at amortized cost using the effective interest method, except that:
(1) Financial liabilities at fair value through profit are subsequently measured at fair value without considering of
the possible transaction costs upon the settlement thereof in the future; (2) Derivative financial liabilities that are
linked to and must be settled by delivery of an unquoted equity instrument without a quoted price in an active
market whose fair value cannot be reliably measured, they are subsequently measured at cost; and (3) Financial
guarantee contracts that are not designated as financial liabilities at fair value through profit or loss, or loan
commitments to provide a loan at a below-market interest rate, which are not designated at fair value through
profit or loss, subsequent to initial recognition, they are measured at the higher of: (1) the amount determined in
accordance with ASBE No. 13 “Contingencies”; and (2) the amount initially recognized less cumulative
amortization recognized in accordance with the principles set out in ASBE No. 14 “Revenue”.
Any gains or losses arising from changes in the fair value on financial assets or financial liabilities, other than
those hedging instrument, are accounted for as follows: (1) Gains or losses arising from the change in fair value
on financial assets or financial liabilities at fair value through profit or loss are recorded as gains or losses from
change in fair value; Any interest or dividend income earned during the holding on such financial assets are
recognized to profit or loss. On disposal, the differences between the consideration received and initial recognized
amount are recognized as investment income and adjust to the gains or losses from change in fair value
accordingly; and (2) Changes in fair value of available-for-sale financial assets are recorded in the other
comprehensive income. Interest calculated using the effective interest method for the periods, in which the assets
are held, are recognized as investment income. Cash dividends from available-for-sale equity investments are
recognized as investment income when the dividends are declared by the investee. On disposal, the differences
between the considerations received and the carrying amounts of financial assets after deducting the accumulated
fair values adjustments previously recorded in the other comprehensive income are recognized as investment
income.
A financial asset is derecognized when the contractual rights to the cash flows from the financial asset terminate,
or when it transfers substantially all the risks and rewards of ownership of the asset to another entity. A financial
liability (or part of it) is derecognized only when the underlying present obligations (or part of it) are discharged.
(3)Recognition and measurement on transfer of financial assets
If the Group has transferred substantially all the risks and rewards of ownership of the financial asset to the
transferee, the financial asset should be derecognized; If the Group retains substantially all the risks and rewards
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of ownership of a financial asset, the transferred financial asset should be recognized and the consideration
received should be recognized as a financial liability; If the Group neither transfers nor retains substantially all the
risks and rewards of ownership of a financial asset, it shall be accounted for as follows: (1)the financial asset
should be derecognized if the Group waives control over the asset; (2)it recognizes the financial asset to the extent
of its continuing involvement in the transferred financial asset and recognizes an associated liability if the Group
does not waives control over the asset.
For a transfer of a financial asset in its entirety that satisfies the derecognition criteria, the difference of the
following is recognized to profit or loss: (1) The carrying amount of the financial asset transferred; and (2) The
sum of the consideration received from the transfer and any cumulative change of fair value that has been
previously recognized in other comprehensive income directly. If a part of the transferred financial asset qualifies
for derecognition, the carrying amount of the transferred financial asset is allocated between the part that
continues to be recognized and the part that is derecognized, based on the respective fair values of those parts. The
difference of the following is recognized to profit or loss: (i) The carrying amount allocated to the part
derecognized; and (ii) The sum of the consideration received for the part derecognized and any cumulative change
of fair value allocated to the part derecognized which has been previously recognized in other comprehensive
income directly.
(4)Determination of fair value of financial assets and financial liabilities
For a financial asset or financial liability which has an active market, the Group considers the quoted price in the
active market to determine its fair value. For a financial assets or financial liability which has no active market,
the Group uses a valuation technique (valuation techniques include using recent arm’s length market transactions
between knowledgeable, willing parties, reference to the current fair value of another instrument that is
substantially the same, discounted cash flow analysis and option pricing models) to determine its fair value. For a
financial asset acquired or a financial liability assumed initially, its fair value is based on the price of market
transactions.
(5) Provision for impairment on financial assets other than account receivables
At each balance sheet date, the Group assesses the carrying amounts of its financial assets other than those
financial assets at fair value through profit or loss. If there is objective evidence that a financial asset is impaired,
the Group determines the amount of any impairment loss.
For a financial asset that is individually significant, the Company assesses the asset individually for impairment.
For a financial asset that is not individually significant, the Company assesses the asset individually for
impairment or includes the asset in a group of financial assets with similar credit risk characteristics and
collectively assesses them for impairment. If the Company determines that no objective evidence of impairment
exists for an individually assessed financial asset (whether significant or not), it includes the asset in a group of
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financial assets with similar credit risk characteristics and collectively reassesses them for impairment.
At the end of the reporting period, if there is objective evidence that an impairment loss on a financial asset
carried at amortized cost has occurred, an impairment loss is recognized as the excess of the carrying amount of
the financial asset over its present value of estimated future cash flows to profit or loss. If an impairment loss has
been incurred on an investment in unquoted equity instrument without a quoted price in an active market whose
fair value cannot be reliably measured, or on a derivative financial asset that is linked to and must be settled by
delivery of such equity instrument, an impairment loss is recognized as the excess of the carrying amount of the
unquoted equity investment or a derivative financial asset over its present value of estimated future cash flows
discounted at the current market rate of return for a similar financial asset to profit or loss.
An impairment is recognized where there is a significant decrease in the fair value of available for sale financial
assets, or taken into account all factors, the decrease trend is not temporary to profit or loss. The cumulative loss
arising from decline in fair value previously recognized directly in the other comprehensive income is reclassified
from the capital reserve to profit or loss.
(6)There is no reclassification of held-to-maturity investment which is not due into financial assets available for
sale during the period.
11. Account receivable
(1) Account receivable with single significant amount and withdrawal single item bad debt provision
Account with single significant amount Over RMB 5 million
Conducted impairment testing separately, balance between the
present value of future cash flow and its carrying value, bad debt
Withdrawal method for bad debt provision of account receivable
provision withdrawal and reckoned into current gains/losses. For
with single significant amount
those without impairment being found after test, collected into
relevant combination for accrual.
(2) Accounts receivable whose bad debts provision was accrued by combination based on credit risk
characteristics portfolio
Combination Bad debt provision accrual
Bad debt provision of receivables Age analysis method
Accrual bad debt provision by age analysis in combination:
√ Applicable □ Not applicable
Age Accrual ratio Accrual ratio for other receivable
Within one year (one year included) 0.30% 0.30%
1－2 years 0.30% 0.30%
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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
If any objective evidence shows that it may has impaired, such as
the debtor revoke, bankruptcy or death, and after liquidate with
Reasons for provision of bad debt reserve
bankrupt’s estates or heritage, the money still un-collectable, and
in sufficient of cash flow
As for the receivable with objective evidence shows that it might
Provision method of bad debt reserve be impaired, an independent impairment test may be carried out
for impairment losses recognized
12. Inventory
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(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) Valuation of inventories
Inventories are initially measured at cost upon acquisition, which includes procurement costs, processing costs
and other costs. The prices of inventories are calculated using weighted average method when they are delivered.
(3) Provision for inventory impairment
When a comprehensive count of inventories is done at the end of the period, provision for inventory impairment is
allocated or adjusted using the lower of the cost of inventory and the net realizable value. The net realizable value
of stock in inventory (including finished products, inventory merchandize and materials for sale) that can be sold
directly is determined using the estimated saleable price of such inventory deducted by the cost of sales and
relevant taxation over the course of ordinary production and operation. The net realizable value of material in
inventory that requires processing is determined using the estimated saleable price of the finished product
deducted by the cost to completion, estimated cost of sales and relevant taxation over the course of ordinary
production and operation. The net realizable value of inventory held for performance of sales contract or labor
service contract is determined based on the contractual price; in case the amount of inventory held exceeds the
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contractual amount, the net realizable value of the excess portion of inventory is calculated using the normal
saleable price.
Provision for impairment is made according to individual items of inventories at the end of the period; however,
for inventories with large quantity and low unit price, the provision is made by categories; inventories of products
that are produced and sold in the same region or with the same or similar purpose or usage and are difficult to be
measured separately are combined for provision for impairment.
If the factors causing a previous write-off of inventory value has disappeared, the amount written-off is reversed
and the amount provided for inventory impairment is reversed and recognized in profit or loss for the period.
(4)Inventory system
Perpetual inventory system is adopted.
13. Assets held for sale
The Company classifies such corporate components (or non-current assets) that meet the following criteria as
held-for-sale: (1) Disposable immediately under current conditions based on similar transactions for disposals of
such assets or practices for the disposal group; (2) Probable disposal; that is, a decision has been made on a plan
for disposal and an undertaking to purchase has been obtained (the undertaking to purchase means a binding
purchase agreement entered into by the Company and other parties, which contains transaction price, time and
adequately strict punishments for breach of contract provisions, which renders the possibility of material
adjustment or revocation of the agreement is extremely minor), and the disposal is expected to be completed
within a year. Besides, approval from relevant competent authorities or regulatory authorities has been obtained as
required by relevant rules.
The expected net residual value of asset held for sale is adjusted by the Company to reflect its fair value less
selling expense, provided that the net amount shall not exceed the original carrying value of the asset. In case that
the original value is higher than the adjusted expected net residual value, the difference shall be recorded in profit
or loss for the period as asset impairment loss, and allowance of impairment for the asset shall be provided.
Impairment loss recognized in respect of the disposal group held for sale shall be used to offset the carrying value
of the goodwill in the disposal group, and then offset the carrying value of the non-current assets within the
disposal group based on their respective proportion of their carrying value.
In respect of the non-current assets held for sale, if the net amount after their fair value less the selling expenses
increased as at the subsequent balance date, the reduced amount before will be recovered and reversed in the
assets impairment loss amount recognized after being classified as held for sale, and the reversed amount will be
recorded in the current profits or loss. The impairment loss on assets recognized before being classified as held for
sale will not be reversed. In respect of the disposal group held for sale, if the net amount after their fair value less
the selling expenses increased as at the subsequent balance date, the reduced amount before will be recovered and
reversed in the assets impairment loss amount recognized in non-current assets after being classified as held for
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sale, and the reversed amount will be recorded in the current profits or loss. The reduced book value of the
goodwill as well as the impairment loss on assets recognized before the non-current assets are classified as held
for sale will not be reversed. The subsequent reversed amount in respect of the impairment loss on assets
recognized in the disposal group held for sale will increase the book value in proportion of the book value of each
non-current assets (other than goodwill) in the disposal group.
In respect of loss of control in a subsidiary arising from disposal of the investment in such subsidiary, the
investment in a subsidiary shall be classified as held for sale in its entirety in the individual financial statement of
the parent company, and all the assets and liabilities of the subsidiary shall be classified as held for sale in the
consolidated financial statement subject to that the proposed disposal of investment in the subsidiary satisfies such
conditions as required for being classified as held for sale notwithstanding part equity investment will be retained
by the Company after such disposal.
14. Long-term equity investments
(1)Determination of investment costs
1) If it is formed by the business combination under the common control, and that the combining party takes cash
payment, transfer of non-cash assets, assumption of debts or issuance of equity securities as the consolidation
consideration, the shares of the book value of the owner’s equity obtained from the combined party on the date of
combination in the ultimate controlling party’s consolidated financial statements shall be recognized as its initial
investment cost. Capital reserves shall be adjusted according to the balance between the initial investment cost for
long-term equity investment and the book value of paid consolidation consideration or the total face value of
issued shares (capital premium or equity premium). If capital reserves are insufficient for offset, retained earnings
shall be adjusted.
As for business combination under the common control realized by the Company through several transactions, the
initial investment cost of the investment shall be determined based on the share of the carrying value of the
owners’ equity of the consolidated party as calculated according to the shareholding proportion on the
consolidation date. Difference between initial investment cost and the carrying value of long-term equity
investment before combination and the sum of carrying value of newly paid consideration for additional shares
acquired on the date of combination is to adjust capital reserve (capital premium or equity premium). If the
balance of capital reserve is insufficient, any excess is adjusted to retained earnings.
2) As for long-term equity investment formed from business combination not under common control, the fair
value of the consolidated consideration paid shall be deemed as the initial investment cost on the acquisition date.
3) Except those ones formed by the business combination, for all items obtained by means of cash payment,
actually paid acquisition costs shall be taken as the initial investment cost. For those ones obtained by the issuance
of equity securities, the fair value of the issued equity securities shall be taken as the initial investment cost. For
those ones invested by investors, the value agreed in the investment contract or agreement shall be taken as the
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initial investment cost, provided that the value agreed in the contract or agreement shall be fair.
(2)Subsequent measurement and profit or loss recognition
For a long-term equity investment where the Company can exercise control over the investee, the long-term
investment is accounted for using the cost method in the Company’s financial statements. The equity method is
adopted when the Group has joint control, or exercises significant influence on the investee.
Under cost method, long term equity investment is measured at initial investment cost. Except for the price
actually paid for obtaining the investment or the cash dividends or profits declared but not yet distributed which is
included in the consideration, the Company recognizes cash dividends or profits declared by the investee as
current investment gains, and determine whether there is impairment on long term investment according to
relevant assets impairment policies.
Under equity method, when the initial investment cost of the long-term equity investment exceeds the share of fair
value in the net identifiable assets in the investee, the difference shall be included in initial investment cost of the
long-term equity investment. When the initial investment cost is lower than the share of fair value in the net
identifiable asset in the investee, such difference is recognized in profit or loss for the period with adjustment of
cost of the long-term equity investment.
Under equity method, after the Company acquires a long-term equity investment, it shall, in accordance with its
attributable share of the net profit or loss realized by the investee, recognize the investment profit or loss and
adjust carrying value of the investment. The Group recognizes its share of the investee’s net profits or losses after
making appropriate adjustments to the investee’s net profits and losses based on the fair value of the investee’s
identifiable assets at the acquisition date, using the Group’s accounting policies and periods, and eliminating the
portion of the profits or losses arising from internal transactions with its joint ventures and associates, attributable
to the investing entity according to its shareholding proportion (but impairment losses for assets arising from
internal transactions shall be recognized in full). The carrying amount of the investment is reduced based on the
Group’s share of any profit distributions or cash dividends declared by the investee. The Group’s share of net
losses of the investee is recognized to the extent the carrying amount of the investment together with any
long-term interests that in substance form part of its net investment in the investee is reduced to zero, except that
the Group has the obligations to assume additional losses. The Group adjusts the carrying amount of the long-term
equity investment for any changes in owners’ equity of the investee (other than net profits or losses) and includes
the corresponding adjustments in the owners’ equity of the Group.
(3) Determination of control and significant influence on investee
Control is the power over an investee. An investor must have exposure or rights to variable returns from its
involvement with the investee, and the ability to use its power over the investee to affect the amount of the
investor’s returns. Significant influence is the power to participate in the financial and operating policy decisions
of the investee but is not control or joint control with other parties over those policies
(4)Disposal of long-term equity investment
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1) Partial disposal of long term investment in which control is retained
When long term investment is been partially disposed but control is retained by the company, the difference
between disposal proceeds and carrying amount of the proportion being disposed is accounted for through profit
or loss.
2) Partial disposal of long term investment in which control is lost
When long term investment is partially disposed and control is lost as a result, the carrying value of the long term
invest on the stock right, the difference between carrying amount of the part being disposed and disposal proceeds
should be recognized as profit or loss. The residual part should be treated as long term investment or other
financial assets according to their carrying amount. After partial disposal, if the company is able to exert
significant influence or common control over the investee, the investment should be measured according to cost
method or equity method, in compliance with relevant accounting standards and regulations.
(5)Impairment test and provision for impairment
If there is objective evidence on the balance sheet date showing investment in subsidiaries, associates and joint
ventures is impaired, provision of impairment shall be made against the difference between the carrying amount
and the recoverable amount of the investment.
15. Investment property
Measurement mode
Measured by cost method
Depreciation or amortization method
(1) Investment property including land use right which has been rented out, land use right which is held for
transfer upon appreciation and buildings which has been rented out.
(2) Investment properties are initially measured at cost and subsequently measured as per the cost pattern, and
relevant withdrawal of provision for depreciation or amortization is carried out by the same method for fixed
assets and intangible assets. As of the balance sheet date, where there is any indication that an investment property
experiences impairment, the relevant impairment provision shall be provided for based on the difference between
the carrying value and the recoverable amount.
16. Fixed assets
(1) 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.
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(2) Depreciation methods
Categories Method Years of depreciation Scrap value rate Yearly depreciation rate
Housing buildings Straight-line depreciation 20 10% 4.5%
Machinery equipment Straight-line depreciation 10 10% 9%
Office equipment Straight-line depreciation 5 10% 18%
Electronic equipment Straight-line depreciation 5 10% 18%
Means of transportation Straight-line depreciation 5 10% 18%
Other equipment Straight-line depreciation 5 10% 18%
(3) Recognization basis, valuation and depreciation method for financial lease assets
Finance lease is determined when one or a combination of the following conditions are satisfied: (1) the
ownership has been transferred to the lessee when the leasing term is due; (2) the lessee has the option to purchase
the leasing asset at a price that is much lower than its fair value, so it can be reasonably determined that the lessee
will take the option at the very beginning of the lease; (3) the leasing term accounts for most time of the useful life
(ordinarily accounting for 75% or higher) even if the ownership does not transfer to the lessee; (4) the present
value of the minimum amount of rent that the lessee has to pay at the first day of the lease amounts to 90% or
higher of its fair value at the same date; or the present value of the minimum amount of rent that the lessor collects
at the first day of the lease amounts to 90% or higher of its fair value at the same date; and/or (5) the leased assets
are of such a specialized nature that only the lessee can use them without major modifications. Fixed assets
rented-in under finance lease are recorded at the lower of fair value and the present value of the minimum lease
payment at the inception of the lease, and are depreciated following the depreciation policy for self-owned fixed
assets.
17. Construction in process
(1)When the construction in progress has reached the intended condition for use, it will be treated as fixed assets
as per the actual construction cost. If the construction in progress has reached the intended condition for use but
completion accounting is not carried out, the construction in progress should be first treated as fixed assets as per
the estimated value. After completion accounting is carried out, the original estimated value should be adjusted as
per the actual cost, but the provision for depreciation withdrawn should not be adjusted.
(2)As of the balance sheet date, where there is any indication that a construction in process experiences
impairment, the relevant impairment provision shall be provided for based on the difference between the carrying
value and the recoverable amount.
18. Borrowing expenses
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19. Biological assets
Nil
20. Oil-and-gas assets
Nil
21. Intangible assets
(1) Valuation method, service life and impairment test
a.Intangible assets include land use right, patent right and non-patent technology, which should be initially
measured at cost.
b.Intangible assets with limited service life should be amortized systematically and reasonably in their service
lives as per the expected form of realization economic benefits relating to the said intangible assets. If the form of
realization cannot be reliably determined, the intangible assets should be amortized on a straight-line basis.
c. At the balance sheet date, when there is any indication that the intangible assets with finite useful lives may be
impaired, a provision for impairment loss is recognized on the excess of the carrying amounts of the assets over
their recoverable amounts. Intangible assets with infinite useful lives and intangible assets not satisfying the
condition for use yet are subject to impairment test each year notwithstanding whether the assets are impaired.
(2)Accounting policies for expenditures for internal research and development activities
Expenditures for internal research and development activities are expensed in the period as incurred. The expenses
of internal research and development projects during the development stage are recognized as intangible assets
when all of the following conditions are satisfied: (1) The completion of such intangible assets for use or sale is
technically feasible; (2) The Company has the intention to use or sell the intangible assets upon completion; (3)
The way in which the intangible assets bring economic benefits shows that there exists consumption market for
the products with use of these intangible assets or the intangible assets themselves, or that they are useful in case
of internal utilization; (4) The Company has sufficient technological, financial and other resources to complete the
development of the intangible assets and the ability to make them available for use or sale; (5) The expenses
attributable to such intangible assets can be measured reliably at the development stage.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
22. Impairment of long-term assets
23. Long-term deferred expenses
23. Long-term prepaid expenses
Long-term prepaid expenses are recorded with actual cost, and evenly amortized within its beneficiary period or
stipulated period. If items of long-term prepaid expenses fail to be beneficial to the following accounting periods,
residual values of such items are included in profit or loss.
24. Employee compensation
(1) Accounting treatment for short-term compensation
During the accounting period when staff providing service to the Company, the actual short-term compensation
occurred shall recognized as liabilities and reckoned into current gains/losses or relevant assets costs. The
non-monetary welfare is measured by fair value.
(2) Accounting treatment for post-employment benefit
(3) Accounting for retirement benefits
When the Company terminates the employment relationship with employees before the end of the employment
contracts or provides compensation as an offer to encourage employees to accept voluntary redundancy, the
Company shall recognize employee compensation liabilities arising from compensation for staff dismissal and
included in profit or loss for the current period, when the Company cannot revoke unilaterally compensation for
dismissal due to the cancellation of labor relationship plans and employee redundant proposals; and the Company
recognize cost and expenses related to payment of compensation for dismissal and restructuring, whichever is
earlier.
(4) Accounting for other long-term employee benefits
25. Accrued liabilities
26. Share-based payment
(1)Types of share-based payment
Share-based payment comprises of equity-settled share-based payment and cash-settled share-based payment.
(2)Determination of fair value of equity instruments
1)determined based on the price quoted in an active market if there exists active market for the instrument.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
2)determined by adoption of valuation technology if there exists no active market, including by reference to the
recent arm’s length market transactions between knowledgeable, willing parties, reference to the current fair value
of another instrument that is substantially the same, discounted cash flow analysis and option pricing models.
(3)Basis for determination of the best estimate of exercisable equity instruments
To be determined based on the subsequent information relating to latest change of exercisable employees.
(4)Accounting relating to implementation, amendment and termination of share-based payment schemes
1)Equity-settled share-based payment
For equity instruments that may be exercised immediately after the grant, the fair value of such instrument shall,
on the date of the grant, be recognized in relevant costs or expenses with the increase in the capital reserve
accordingly. For equity-settled share-based payment made in return for the rendering of employee services that
cannot be exercised until the services are fully rendered during vesting period or specified performance targets are
met, on each balance sheet date within the vesting period, the services acquired in the current period shall, based
on the best estimate of the number of exercisable instruments, be recognized in relevant costs or expenses and the
capital reserves at the fair value of such instruments on the date of the grant.
For equity-settled share-based payment made in exchange for service from other parties, such payment shall be
measured at the fair value of the service as of the acquisition date is the fair value can be measured reliably. And if
the fair value of the service cannot be measured reliably while the fair value of the equity instrument can be
measured reliably, it shall be measure at the fair value of the instrument as of the date on which the service is
acquired, which shall be recorded in relevant cost or expense with increase in owners’ equity accordingly.
2)Cash-settled share-based payment
For the cash-settled share-based payment that may be exercised immediately after the grant in exchange for render
of service by employees, the fair value of the liability incurred by the Company shall, on the date of the grant, be
recognized in relevant costs or expenses and the liabilities shall be increased accordingly. For cash-settled
share-based payment made in return for the rendering of employee services that cannot be exercised until the
services are fully provided during vesting period or specified performance targets are met, on each balance sheet
date within the vesting period, the services acquired in the current period shall, based on the best estimate of the
number of exercisable instruments, be recognized in relevant costs or expenses and the corresponding liabilities at
the fair value of the liability incurred by the Company.
3)Revision and termination of share-based payment schemes
If the revision results in an increase in the fair value of the equity instruments granted, the Company shall
recognize the increase in the services rendered accordingly at the increased fair value of the equity instruments. If
the revision results in an increase in the number of equity instruments granted, the Company will recognize the
increase in the services rendered accordingly at the fair value of the increased number of equity instruments. If the
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Company revises the vesting conditions on terms favorable to the employees, the Company will take into
consideration of the revised vesting conditions when dealing with the vesting conditions.
If the revision results in a decrease in the fair value of the equity instruments granted, the Company shall continue
recognize the amount of services rendered accordingly at the fair value of the equity instruments on the date of
grant without considering the decrease in the fair value of the equity instruments. If the revision results in a
decrease in the number of equity instruments granted, the Company will account for such decrease by reducing
part of the cancellation of equity instruments granted. If the Company revises the vesting conditions on terms not
favorable to the employees, the Company will not take into consideration of the revised vesting conditions when
dealing with the vesting conditions.
If the Company cancels the equity instruments granted or settles the equity instruments granted during the vesting
period (other than cancellation as a result of failure to satisfy the vesting conditions), such cancellation or
settlement will be treated as accelerated exercisable rights and the original amount in the remaining vesting period
will be recognized immediately.
27. Other financial instruments including senior shares and perpetual bonds
28. Revenue
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(1) Goods sales
Income from sale of goods is recognized when the following conditions are met: (1)the Company has transferred
the key risks and return on the ownership of the merchandize to the buyer; (2)the Company has not retained
continued management rights associated with ownership and no longer exercises effective control on the
merchandize sold; (3)the amount of income can be reliably measured; (4)the relevant economic benefits are very
likely to flow to the enterprise; (5)the costs incurred or to be incurred can be reliably measured.
Timing for recognition of revenue of the Company from products sales: revenue is recognized upon delivery of
products to and confirmed by purchaser with signature.
(2)Rendering of services
When the outcome of the transaction can be estimated reliably, revenue from rendering of services is recognized
using the percentage of completion method. When the outcome of the transaction cannot be estimated reliably at
the balance sheet date, revenue is recognized based on the amount of the costs incurred and the costs incurred are
charged off at the same amount when the costs incurred are expected to be recoverable; and no revenue is
recognized and the costs incurred are charged off as an expense of the period when the costs incurred are not
expected to be recovered.
(3)Transfer of asset use right revenue
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
When the economic benefits related to the transaction is likely to flow to the Company and the income
amount can be reliably calculated, the Company shall recognize income arising from transfer of asset use right.
The income of interests is determined on basis of the time and real interest rate of the Company’s cash funds which
is utilized by other persons. The income of royalties is determined on basis of the chargeable time and method
fixed under relevant agreement or contract.
29. Government Grants
(1) Determination basis and accounting for government grants related to assets
(1)government grant, if granted as monetary assets, are measured at the amount received or receivable, and
measured at fair value if granted as non-monetary assets. If the fair value can not be determined reliably, they
shall be measured at nominal value.
(2)Aggregate method for government grants:
1)government grants relating to assets are recognized as deferred income, which shall be recorded in profit or loss
by installment reasonably and systematically within the useful life of the assets. If assets are sold, transferred,
discarded as useless or damaged prior to expiration of the useful life, the remaining deferred income undistributed
shall be transferred to profit or loss for the period in which the assets are disposed.
(3)Net method for government grants
1) Government grants relating to assets are used to write off the carrying value of the relevant assets;
(4)The Company adopts aggregated accounting method for the government grants received.
(5)As for the government grants comprising both portions relating to assets and income, separate accounting shall
be made for different portion; in case it is hard to differentiate the portions, the grants will be recorded as related
to income in general.
(6)The Company realizes government grants relating to its normal activities as other income based on the
substance of economic business, and if not related to its normal activities, realized as non-operating income and
expenditure.
(7)Subsidized loans from preferential policy obtained by the Company are classified based on whether subsidy
funds are paid to the loaning bank or directly to the Company by the competent financial authorities and are
treated based on the following principles:
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
1)Where subsidy funds are paid to the loaning bank by the competent financial authorities and the bank then
provides loans to the Company at a preferential policy rate, accounting shall be made by the Company as follows:
a. Recognizes the actual borrowing amount received as the carrying value of the loan, and calculates the relevant
borrowing costs based on the principal and the preferential policy rate.
b.Recognizes the fair value of the loan as the carrying value and calculates the borrowing cost under effective
interest method, and recognizes the difference between the actual amount received and the fair value of the loan as
deferred income. Deferred income is amortized over the term of the loan under effective interest method and
offset against the relevant borrowing costs.
2)Where subsidy funds are paid directly to the Company, the Company will offset the corresponding subsidy
against the relevant borrowing expenses.
(2)Judgment criteria and accounting treatment for government grants related to income
(1)government grant, if granted as monetary assets, are measured at the amount received or receivable, and
measured at fair value if granted as non-monetary assets. If the fair value can not be determined reliably, they
shall be measured at nominal value.
(2)Aggregate method for government grants:
1) If government grants relating to income are used to compensate for relevant costs or loss for the subsequent
periods, they shall be recognized as deferred income, and recorded in profit or loss for the period in which the
relevant costs are recognized. If government grants relating to income are used to compensate for the relevant
costs or loss occurred, they shall be recorded in profit or loss for the period directly.
(3)Net method for government grants
1) If government grants relating to income are used to compensate for relevant costs or loss for the subsequent
periods, they shall be recognized as deferred income, and recorded in profit or loss for the period in which offset
against the relevant costs. If government grants relating to income are used to compensate for the relevant costs or
loss occurred, they shall be offset against the relevant costs for the period directly.
(4)The Company adopts aggregated accounting method for the government grants received.
(5)As for the government grants comprising both portions relating to assets and income, separate accounting
shall be made for different portion; in case it is hard to differentiate the portions, the grants will be recorded as
related to income in general.
(6)The Company realizes government grants relating to its normal activities as other income based on the
substance of economic business, and if not related to its normal activities, realized as non-operating income and
expenditure.
(7)Subsidized loans from preferential policy obtained by the Company are classified based on whether subsidy
funds are paid to the loaning bank or directly to the Company by the competent financial authorities and are
treated based on the following principles:
1)Where subsidy funds are paid to the loaning bank by the competent financial authorities and the bank then
76
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
provides loans to the Company at a preferential policy rate, accounting shall be made by the Company as follows:
a. Recognizes the actual borrowing amount received as the carrying value of the loan, and calculates the relevant
borrowing costs based on the principal and the preferential policy rate.
b.Recognizes the fair value of the loan as the carrying value and calculates the borrowing cost under effective
interest method, and recognizes the difference between the actual amount received and the fair value of the loan as
deferred income. Deferred income is amortized over the term of the loan under effective interest method and
offset against the relevant borrowing costs.
2)Where subsidy funds are paid directly to the Company, the Company will offset the corresponding subsidy
against the relevant borrowing expenses.
30. Deferred tax assets / deferred income tax liabilities
(1) Deferred tax assets or deferred tax liabilities are calculated and recognized based on the difference between the
carrying amount and tax base of assets and liabilities (and the difference of the carrying amount and tax base
of items not recognized as assets and liabilities but with their tax base being able to be determined according
to tax laws) and in accordance with the tax rate applicable to the period during which the assets are expected
to be recovered or the liabilities are expected to be settled.
(2)A deferred tax asset is recognized to the extent of the amount of the taxable income, which it is most likely to
obtain and which can be deducted from the deductible temporary difference. At the balance sheet date, if there
is any exact evidence that it is probable that future taxable profits will be available against which deductible
temporary differences can be utilized, the deferred tax assets unrecognized in prior periods are recognized.
(3)At the balance sheet date, the carrying amount of deferred tax assets is reviewed. The carrying amount of a
deferred tax asset is reduced to the extent that it is no longer probable that sufficient taxable profits will be
available to allow the benefit of the deferred tax asset to be utilized. Such reduction is subsequently reversed to
the extent that it becomes probable that sufficient taxable income will be available.
(4)The income tax and deferred tax for the period are treated as income tax expenses or income through profit or
loss, excluding those arising from the following circumstances: ① business combination; and ② the
transactions or items directly recognized in equity.
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
31. Lease
(1)Accounting for operating lease
(2)Accounting for financing lease
32. Other important accounting policy and estimation
33. Major accounting policy and changes
(1) Main accounting policy changes
□ Applicable √ Not applicable
(2) Changes of important accounting estimate
□ Applicable √ Not applicable
34. Other
VI. Taxes
1. Main tax category and tax rate
Tax category Tax calculation evidence Tax rate
Sales of goods, taxable labor service
Value added tax revenue, taxable income, intangible assets 17%, 16%, 6%, 5%
income and income from property leasing
Tax for maintaining and building cities Turnover tax payable 7%
Business income tax Taxable income 25%
Educational surtax Turnover tax payable 3%
Local educational surtax Turnover tax payable 2%
Property tax Turnover tax payable 1.2%
Disclose reasons for different taxpaying body
Taxpaying body Income tax rate
2. Tax preference
Nil
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
3. Other
Nil
VII. Notes to Items in Consolidated Financial Statements
1. Monetary fund
In RMB
Item Ending balance Opening balance
Cash on hand 55,753.64 100,034.87
Cash in bank 15,758,551.35 18,837,402.11
Other monetary fund 9,048,217.26
Total 15,814,304.99 27,985,654.24
Other explanation
There were no restrited monetary fund at end of the period. No deposited overseas and of potential recovery risks
at period-end
2. Financial assets measured by fair value and reckoned into current gains/losses with its variation
In RMB
Item Ending balance Opening balance
Other explanation
Nil
3. Derivative financial assets
□ Applicable √ Not applicable
4. Note receivables
(1) Classification of notes receivable
In RMB
Item Ending balance Opening balance
Bank acceptance bill 1,500,000.00
Total 1,500,000.00
(2) Pledge at period-end
In RMB
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Item Amount pledge at period-end
Bank acceptance bill 0.00
Trade acceptance 0.00
Total 0.00
(3) Notes endorsement or discount and undue on balance sheet date
In RMB
Item Amount derecognition at period-end Amount not derecognition at period-end
Bank acceptance bill 48,320,333.38 0.00
Trade acceptance 0.00 0.00
Total 48,320,333.38 0.00
(4) Notes transfer to account receivable due for failure implementation by drawer at period-end
In RMB
Item Amount transfer to account receivable at period-end
Trade acceptance 0.00
Total 0.00
Other explanation
There was no notes that converted to receivables due to the inability of the drawer to performance the contrat。
5. Accounts receivable
(1) Accounts receivable by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Receivables with bad
debt provision 36,199,3 1,247,39 34,951,94 30,247, 1,240,186 29,007,775.
96.59% 3.45% 95.95% 4.10%
accrual by credit 37.45 5.79 1.66 962.05 .84 21
portfolio
Accounts with single
significant amount
1,278,28 1,278,28 1,278,2 1,278,283
and bad debts 3.41% 100.00% 4.05% 100.00%
3.50 3.50 83.50 .50
provision accrued
individually
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
37,477,6 2,525,67 34,951,94 31,526, 2,518,470 29,007,775.
Total 100.00% 6.74% 100.00% 7.99%
20.95 9.29 1.66 245.55 .34 21
Receivable with single significant amount and withdrawal bad debt provision separately at end of period:
□ Applicable √ Not applicable
In combination, accounts receivable whose bad debts provision was accrued by age analysis:
√ Applicable □ Not applicable
In RMB
Ending balance
Age
Account receivable Bad debt provision Accrual ratio
Within one year
Within 1 year 34,155,123.80 102,465.37 0.30%
Subtotal within one year 34,155,123.80 102,465.37 0.30%
1-2 years 901,989.20 2,705.97 0.30%
2-3 years 0.30%
Over 3 years 1,142,224.45 1,142,224.45 100.00%
Total 36,199,337.45 1,247,395.79 3.45%
Explanation on combination determines:
According to the business scale, business nature, and customers’ settlement, etc., the account receivable with single significant
amount is determined to be RMB 5 million. The account receivable with single significant amount has no depreciation reserve, and
the reserve for bad debt provision is withdrawn with age analysis method.
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:
Nil
(2) Bad debt provision accrual collected or switch back
Bad debt provision accrual was 9,231.99 Yuan; the amount collected or switches back amounting to 2,023.04 Yuan
Important bad debt provision collected or switch back:
In RMB
Company Collected or switch back amount Collection way
Total 0.00 --
(3) Account receivable actual charge off in the Period
In RMB
Item Amount written off
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Written-off for the major receivable:
In RMB
Verification Arising from related
Company Nature Amount written off Reason for write-off
procedures transaction (Y/N)
Total -- 0.00 -- -- --
Explanation for write-off of receivables:
Nil
(4) Top 5 receivables at ending balance by arrears party
Ratio in total
Relationship with Bad debt
Item Amount Account age receivables Nature
the company provision
(%)
Jinan Yuxintai Sales Co., Ltd. Unrelated party 9,043,566.55 Within 1 year 27,130.70 24.13 Paymen
t for
goods
Shenzhen WTR New Energy Unrelated party 7,923,335.39 Within 1 year 23,770.00 21.14 Paymen
Technology Co., Ltd. t for
goods
Shenzhen BoYiN Technology Unrelated party 5,217,743.51 Within 1 year 15,653.23 13.92 Paymen
Co., Ltd. t for
goods
Shenzhen Jiahaosong Unrelated party 3,918,438.81 Within 1 year 11,755.32 10.46 Paymen
Technology Co., Ltd. t for
goods
Fu Qi Unrelated party 2,933,729.40 Within 1 year 8,801.19 7.83 Paymen
t for
goods
Total 29,036,813.66 87,110.44 77.48
(5) De-recognition for financial assets transfer
Nil
(6) Receivable transferred and the assets and liability resulted for continue to engagement
Nil
Other explanation
At end of the period, there was no account receivable from shareholder unit and other related parties that holds 5%
(included) voting rights of the Company among Account Receivables
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
6. Advance payment
(1) Listed by account age
In RMB
Ending balance Opening balance
Age
Amount Ratio Amount Ratio
Within 1 year 6,076,785.42 100.00% 2,482,276.54 100.00%
Total 6,076,785.42 -- 2,482,276.54 --
Explanation on un-settlement in time for advance payment with over one year account age and major amounts:
Nil
(2) Top 5 advance payment at ending balance by prepayment object
Relationship Ratio in total
Item with the Amount Account age Nature advance e
payment (%)
company
Zhaoqing Kaisite Battery Material Unrelated 5,064,187.12 Within 1 year Prepayments for 83.34
Co., Ltd. party materials
Sichuan Xingsheng Lithium Industry Unrelated 660,000.00 Within 1 year Prepayments for 10.86
Co., Ltd. party materials
Guangshui Qilin New Mateiral Co., Unrelated 290,598.30 Within 1 year Prepayments for 4.78
Ltd. party materials
Xinjiang Tebian Electrical Unrelated 62,000.00 Within 1 year Project bid 1.02
Engineering Project Management party
Co., Ltd.
Total 6,076,785.42 100.00
Other explanation
At end of the period, there was no advance payment from shareholder unit and other related parties that holds
5% (included) voting rights of the Company among Advance Payment
7. Interest receivable
(1) interest receivable
In RMB
Item Ending balance Opening balance
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(2) Important overdue interest
Overdue time Overdue Impairment (Y/N) and
Borrower Ending balance Overdue reason
time judgment basis
Total 0.00 -- -- --
Other explanation
Nil
8. Dividend receivables
(1) Dividend receivables
In RMB
Item (or the invested entity) Ending balance Opening balance
(2) Major dividend receivables with over one year age
In RMB
Item or the invested Impairment (Y/N) and
Ending balance Age Reasons
entity) judgment basis
Total 0.00 -- -- --
Other explanation
Nil
9. Other accounts receivable
(1) Other accounts receivable by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Other receivables
with bad debt 1,077,73 470,894. 606,839.1 1,130,5 470,884.5
100.00% 43.69% 100.00% 41.65% 659,706.81
provision accrual by 4.01 84 7 91.40 9
credit portfolio
1,077,73 470,894. 606,839.1 1,130,5 470,884.5
Total 100.00% 43.69% 100.00% 41.65% 659,706.81
4.01 84 7 91.40 9
Other receivable with single significant amount and withdrawal bad debt provision separately at end of period:
□ Applicable √ Not applicable
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
In combination, other accounts receivable whose bad debts provision was accrued by age analysis
√ Applicable □ Not applicable
In RMB
Ending balance
Age
Other accounts receivable Bad debt provision Accrual ratio
Within 1 year
Within 1 year 251,572.17 754.72 0.30%
Subtotal within one year 251,572.17 754.72 0.30%
1-2 years 148,388.00 445.16 0.30%
2-3 years 208,705.00 626.12 0.30%
Over 3 years 469,068.84 469,068.84 100.00%
Total 1,077,734.01 470,894.84 43.69%
Explanations on combination determine:
Other receivable with single significant amount refers to the amount with over 5 million Yuan
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
(2) Bad debt provision accrual collected or switch back
Bad debt provision accrual was 15.00 Yuan; the amount collected or switches back amounting to 4.75Yuan
Important bad debt provision collected or switch back:
In RMB
Company Amount reversal or collected Collection way
Total 0.00 --
Nil
(3) Other receivables actually written-off during the reporting period
In RMB
Item Amount written off
Written-off for the major other receivable:
In RMB
Nature of other Verification Arising from related
Company Amount written off Reason for write-off
receivables procedures transaction (Y/N)
Total -- 0.00 -- -- --
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Explanation for write-off of other receivables:
Nil
(4) Other receivables by nature
In RMB
Nature Ending book balance Opening book balance
Margin or deposit 496,750.00 628,997.24
Equipment money 311,400.00 311,400.00
Staff personal loans 113,701.00 49,098.50
Other 155,883.01 141,095.66
Total 1,077,734.01 1,130,591.40
(5) Top 5 other receivables at ending balance by arrears party
In RMB
Ratio in total ending
Ending balance of
Company Nature Ending balance Age balance of other
bad bet provision
receivables
Shenzhen Luwei
Mechatronic Equipment money 300,000.00 Over 5 years 27.84% 300,000.00
Equipment Co., Ltd.
Shenzhen Anjinheng
Margin or deposit 150,900.00 Within 3 years 14.00% 452.70
Industrial Co., Ltd.
Shenzhen Material
Margin or deposit 135,723.00 Within 3 years 12.59% 407.17
Group Co., Ltd.
Alipay (China)
Network Technology Margin or deposit 110,000.00 Within 2 years 10.21% 330.00
Co., Ltd.
Zhao Zhuqing Margin or deposit 36,000.00 Over 3 years 3.34% 36,000.00
Total -- 732,623.00 -- 67.98% 337,189.87
(6) Account receivable with government grants involved
In RMB
Time, amount and basis
Company Item Ending balance Ending age of amount collection
estimated
Total -- 0.00 -- --
Nil
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(7) Other account receivable derecognition due to financial assets transfer
Nil
(8) Assets and liability resulted by other account receivable transfer and continuous involvement
Nil
Other explanation
At end of the period, there was no other account receivable from shareholder unit and other related parties that
holds 5% (included) voting rights of the Company among Other Account Receivables
10. Inventory
(1) Inventory classification
In RMB
Ending balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserve reserve
Raw materials 442,413.52 27,465.37 414,948.15 566,193.56 27,465.37 538,728.19
Finished goods 4,399,877.37 4,450.20 4,395,427.17 2,233,386.81 4,450.20 2,228,936.61
Goods shipped in
9,509.83 9,509.83
transit
Total 4,842,290.89 31,915.57 4,810,375.32 2,809,090.20 31,915.57 2,777,174.63
Does the Company comply with the disclosure requirement of “Information Disclosure Guidelines of Shenzhen Stock Exchange
No.4 – Listed Companies Engaged in Seed Industry and Planting Business” or not
No
(2) Inventory depreciation reserve
In RMB
Increase in the current period Decrease in the current period
Item Opening balance Switch back or Ending balance
Accrual Other Other
write-off
Raw materials 27,465.37 27,465.37
Finished goods 4,450.20 4,450.20
Total 31,915.57 0.00 0.00 0.00 0.00 31,915.57
87
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Nil
(3) Explanation on capitalization of borrowing costs at ending balance of inventory
Nil
(4) Assets that completed without settlement from construction contract
In RMB
Item Amount
Other explanation
Nil
11. Assets hold for sold
In RMB
Expected disposal
Item Ending book value Fair value Expected disposal time
expenses
Total 0.00 0.00 0.00 --
Other explanation
Nil
12. Non-current assets due within one year
In RMB
Item Ending balance Opening balance
Other explanation
Nil
13. Other current assets
In RMB
Item Ending balance Opening balance
Prepaid intermediary fee 1,792,452.81 1,792,452.81
Prepaid tax 12,974.36
Total 1,792,452.81 1,805,427.17
Other explanation
Nil
88
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
14. Financial assets available for sale
(1) Financial assets available for sale
In RMB
Ending balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Total 0.00 0.00 0.00 0.00
(2) Financial assets available for sale measured by fair value at period-end
In RMB
Equity instrument Debt instrument
Type Total
available for sale available for sale
Cost /liability of equity
instrument/ amortization 0.00
cost of debt instrument
Fair value 0.00
Amount of fair value
changes that
accumulatively reckoned 0.00
in other comprehensive
gains
Amount with impairment
0.00
accrual
(3) Financial assets available for sale measured by cost at period-end
In RMB
Book balance Depreciation reserves Ratio of
The share-holdi
Cash
invested Period-beg Period-beg ng in
Increased Decreased Period-end Increased Decreased Period-end dividend
entity inning inning invested
entity
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- 0.00
(4) Changes of impairment in Period
In RMB
Type Equity instrument Debt instrument Total
89
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
available for sale available for sale
Balance of impairment
0.00
accrual at period-begin
Current accrual 0.00
Including: transfer-in
from other 0.00
comprehensive income
Current decrease 0.00
Including: switch back
due to fair value rebound 0.00
at period-end
Balance of impairment
0.00
accrual at period-end
(5) Fair value of equity instrument available for sale sharply declined or other-than-temporary declined at
period-end without depreciation reserves accrual
In RMB
Fair value Time of drops Amount with
Reasons for
Item Investment cost Ending fair value declined relative persistently impairment
un-accrual
to cost (month) accrual
Total 0.00 0.00 -- -- 0.00 --
Other explanation
Nil
15. Held-to-maturity investment
(1) Held-to-maturity investment
In RMB
Ending balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Total 0.00 0.00 0.00 0.00
(2) Important held-to-maturity investment at period-end
In RMB
Bond Face value Coupon value Actual rate Maturity date
Total 0.00 -- -- --
90
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(3) Held-to-maturity investment reclassify in the Period
Nil
Other explanation
Nil
16. Long-term account receivable
(1) Long-term account receivable
In RMB
Ending balance Opening balance
Discount rate
Item Bad debt Bad debt
Book balance Book value Book balance Book value section
provision provision
Total 0.00 0.00 0.00 0.00 --
(2) Long-term account receivable derecognition due to transfer of financial assets
Nil
(3) Assets and liability resulted by long-term account receivable transfer and continuous involvement
Nil
Other explanation
Nil
17. Long-term equity investment
In RMB
v
Ending
Other Cash
Investme balance
The Additiona comprehe dividend
Opening nt gains Other Ending of
invested l Capital nsive or profit Impairme
balance recognize equity Other balance impairme
entity investmen reduction income announce nt accrual
d under change nt
t adjustmen d to
equity provision
t issued
I. Joint venture
Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Associated enterprise
Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
91
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Other explanation
Nil
18. Investment real estate
(1) Investment real estate measured at cost
□ Applicable √ Not applicable
(2) Investment real estate measured at fair value
□ Applicable √ Not applicable
(3) Certificate of title un-completed
In RMB
Item Book value Reasons for un-completed
Other explanation
Nil
19. Fixed assets
(1) Fixed assets
In RMB
Machinery Means of Electronic
Item Housing buildings Total
equipment transportation equipment and other
I. Original book
value:
1.Opening balance 2,959,824.00 416,629.06 958,593.21 684,394.50 5,019,440.77
2.Increase in the
current period
(1) Purchase
(2)
construction in
process transfer-in
(3) the
increase in business
combination
3.Decrease in the
current period
92
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(1) Disposal or
scrap
4.Ending balance 2,959,824.00 416,629.06 958,593.21 684,394.50 5,019,440.77
II. accumulated
depreciation
1.Opening balance 199,788.12 109,246.12 269,780.13 499,508.43 1,078,322.80
2.Increase in the
66,596.04 18,748.32 86,273.40 12,928.99 184,546.75
current period
(1) provision 66,596.04 18,748.32 86,273.40 12,928.99 184,546.75
3.Decrease in the
current period
(1) Disposal or
scrap
4.Ending balance 266,384.16 127,994.44 356,053.53 512,437.42 1,262,869.55
III. impairment of
preparation
1.Opening balance 0.00 0.00 0.00 0.00 0.00
2.Increase in the
0.00 0.00 0.00 0.00 0.00
current period
(1) provision 0.00 0.00 0.00 0.00 0.00
3.Decrease in the
0.00 0.00 0.00 0.00 0.00
current period
(1) Disposal or
0.00 0.00 0.00 0.00 0.00
scrap
4.Ending balance 0.00 0.00 0.00 0.00 0.00
IV. book value
1.Ending book
2,693,439.84 288,634.62 602,539.68 171,957.08 3,756,571.22
value
2. Opening book
2,760,035.88 307,382.94 688,813.08 184,886.07 3,941,117.97
value
93
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(2) Fixed assets temporary idle
In RMB
Accumulated Depreciation
Item Original book value Book value Note
depreciation reserves
(3) Fixed assets leased through operating lease
In RMB
Accumulated
Item Original book value Depreciation reserves Book value
depreciation
(4) Fixed assets leased through operating lease
In RMB
Item Ending book value
(5) Certificate of title un-completed
In RMB
Item Book value Reasons
Six properties in Lianxin Garden 2,693,439.84 Other explanation
Other explanation
The six properties of Lianxin Garden have original value of 2,959,824.00 Yuan. The property purchasing refers to the
indemnificatory housing for enterprise talent buying from Shenzhen Housing and Construction Bureau of Luohu District. According
to the agreement, the enterprise shall not carrying any kind of property trading with any units or individuals except the government,
and the company has no property certification on the above mentioned properties.
20. Construction in progress
(1) Construction in progress
In RMB
Ending balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Total 0.00 0.00 0.00 0.00
(2) Changes in significant construction in progress
In RMB
94
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Accumul including
Proporti
Fixed ated : interest Interest
Increase Other on of
assets amount capitaliz capitaliz
Opening in the decrease Ending project Sourceof
Item Budget transfer-i Progress of ed ation rate
balance current d in the balance investme funds
n in the interest amount of the
period Period nt in
Period capitaliz of the year
budget
ation year
Total 0.00 0.00 0.00 0.00 0.00 0.00 -- -- 0.00 0.00 0.00% --
(3) Depreciation reserves accrual
In RMB
Item Accrual Amount Reasons
Total 0.00 --
Other explanation
Nil
21. Engineering materials
In RMB
Item Ending balance Opening balance
Other explanation
Nil
22. Disposal of fixed assets
In RMB
Item Ending balance Opening balance
Other explanation
Nil
23. Productive biological assets
(1) Productive biological assets measured by cost
□ Applicable √ Not applicable
(2) Productive biological assets measured by fair value
□ Applicable √ Not applicable
95
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
24. Oil-and-gas assets
□ Applicable √ Not applicable
25. Intangible assets
(1) Intangible assets
In RMB
Non-patent
Item Land use right Patent Trademark Total
technology
I. original book
value:
1.Opening
5,271,000.00 5,271,000.00
balance
2.Increase in
the current period
(1) Purchase
(2) internal R
&D
(3) the
increase in business
combination
3.Decrease in the
current period
(1) Disposal
4.Ending
5,271,000.00 5,271,000.00
balance
II. accumulated
depreciation
1.Opening
3,012,000.00 3,012,000.00
balance
2.Increase in
376,500.00 376,500.00
the current period
(1) provision 376,500.00 376,500.00
3.Decrease in
96
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
the current period
(1) Disposal
4.Ending
3,388,500.00 3,388,500.00
balance
III. impairment of
preparation
1.Opening
balance
2.Increase in
the current period
(1) provision
3.Decrease in
the current period
(1) Disposal
4.Ending
balance
IV. book value
1.Ending book
1,882,500.00 1,882,500.00
value
2. Opening book
2,259,000.00 2,259,000.00
value
Ratio of intangible assets resulted from internal R&D in balance of intangible assets at period-end
(2) Land use right without certificate of title completed
In RMB
Item Book value Reasons
Other explanation
Nil
26. Development expense
In RMB
Opening Ending
Item Increase in the current period Decrease in the current period
balance balance
97
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Total 0.00 0.00 0.00 0.00 0.00 0.00
Other explanation
Nil
27. Goodwill
(1) Original book value of goodwill
In RMB
The invested
entity or matters Opening balance Increase during the year Decreased during the year Ending balance
of goodwill
Total 0.00 0.00 0.00 0.00
(2) Depreciation reserves of goodwill
In RMB
The invested
entity or matters Opening balance Increase during the year Decreased during the year Ending balance
of goodwill
Total 0.00 0.00 0.00 0.00
Process of impairment testing, parameter and recognition method for impairment losses:
Nil
Other explanation
Nil
28. Long-term unamortized expenses
In RMB
Increase in the Amortized in the
Item Opening balance Other decrease Ending balance
current period Period
Total 0.00 0.00 0.00
Other explanation
Nil
29. Deferred income tax assets and deferred income tax liabilities
(1) Deferred income tax assets un-offset
In RMB
Item Ending balance Opening balance
98
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference assets difference assets
Assets impairment 2,967,314.86 741,828.71 2,967,314.86 741,828.71
Total 2,967,314.86 741,828.71 2,967,314.86 741,828.71
(2) Deferred income tax liabilities un-offset
In RMB
Ending balance Opening balance
Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
Total 0.00 0.00 0.00 0.00
(3) Deferred income tax assets and deferred income tax liabilities listed after off-set
In RMB
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Item deferred income tax
assets or liabilities after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred income tax
0.00 741,828.71 0.00 741,828.71
assets
Deferred income tax
0.00 0.00
liability
(4) Details of unrecognized deferred income tax assets
In RMB
Item Ending balance Opening balance
Total 0.00 0.00
(5) Deductible losses of un-recognized deferred income tax assets expired on the followed year
In RMB
Year Ending amount Opening amount Note
Total 0.00 0.00 --
Other explanation
Nil
99
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
30. Other non-current assets
In RMB
Item Ending balance Opening balance
Advance payment for house 400,000.00 400,000.00
Total 400,000.00 400,000.00
Other explanation
Ended as 30 June 2018, the four houses for enterprise talent, located in Yinhu Lanshan, have not yet delivered
by Shenzhen Housing and Construction Bureau of Luohu District
31. Short-term loans
(1)Types of short-term loans
In RMB
Item Ending balance Opening balance
Explanation on short-term loans category:
Nil
(2) Overdue outstanding short-term loans
Total 0.00 Yuan overdue outstanding short-term loans at period-end, including the followed significant amount:
In RMB
Unit Ending balance Lending rate Overdue time Overdue rate
Total 0.00 -- -- --
Other explanation
Nil
32. Financial liability measured by fair value and with its variation reckoned into current gains/losses
In RMB
Item Ending balance Opening balance
Other explanation
Nil
33. Derivative financial liabilities
□ Applicable √ Not applicable
34. Notes payable
In RMB
100
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Type Ending balance Opening balance
Trade acceptance 8,480,000.00
Total 8,480,000.00
Notes expired at year-end without paid was 0.00 Yuan
35. Account payable
(1) Account payable
In RMB
Item Ending balance Opening balance
Within one year (one year included) 10,599,255.82 3,638,705.30
1-2 year (2 years included) 76,401.23 137,423.41
2-3 years (3years included) 3,084.95 3,084.95
4-5 years (5years included)
Over 5 years 148,983.61 148,983.61
Total 10,827,725.61 3,928,197.27
(2) Account payable with over one year book age
In RMB
Item Ending balance Reasons of un-paid or carry-over
Total 0.00 --
Other explanation
Top 5 payables at Period-end
Ratio in total
Relationship with
Item Amount Account age payables in Nature
the company
advance (%)
Baodao Car Industry Group Co., Unrelated party 5,790,643.76 Within 1 year 53.48 Paymen
Ltd t for
goods
Jinda Intillence Technology Co., Unrelated party 2,660,755.70 Within 1 year 24.57 Paymen
Ltd. t for
goods
Tianjin Luying Car Industry Co., Unrelated party 1,196,170.33 Within 1 year 11.05 Paymen
Ltd. t for
goods
Tianjin Jianya Electronic Unrelated party 359,431.18 Within 1 year 3.32 Paymen
Tech.Co., Ltd. t for
101
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
goods
Tianjin Tianrui Weisheng Sports Unrelated party 244,729.18 Within 1 year 2.26 Paymen
Equipment Co., Ltd. t for
goods
Total 10,251,730.15 94.68
36. Account received in advance
(1) Account received in advance
In RMB
Item Ending balance Opening balance
Within one year (one year included) 1,661,866.45 1,211,804.44
1-2 years (2 years included) 19,777.88 19,777.88
2-3 years (3 years included) 36,897.00 36,897.00
Total 1,718,541.33 1,268,479.32
(2) Account received in advance with over one year book age
In RMB
Item Ending balance Reasons of un-paid or carry-over
Total 0.00 --
(3) Projects that settle without completed from construction contract at period-end
In RMB
Item Amount
Other explanation
Nil
37. Wages payable
(1) Wages payable
In RMB
Item Opening balance Increase during the year Decrease during the year Ending balance
I. Short-term
706,703.40 3,033,554.78 2,880,549.54 859,708.64
compensation
II. Post-employment 160,367.77 160,367.77
102
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
benefit – defined
contribution plan
Total 706,703.40 3,193,922.55 3,040,917.31 859,708.64
(2) Short-term compensation
In RMB
Item Opening balance Increase during the year Decrease during the year Ending balance
1. Wages, bonuses, allowances
699,994.68 2,524,848.21 2,372,089.72 852,753.17
andsubsidies
2. Welfare for workers
141,100.00 141,100.00
and staff
3. Social insurance 137,430.26 137,430.26
Including: Medical
124,611.52 124,611.52
insurance
Work injury
5,932.78 5,932.78
insurance
Maternity
6,885.96 6,885.96
insurance
4. Housing accumulation
189,464.40 189,464.40
fund
5. Labor union
expenditure and
6,708.72 40,711.91 40,465.16 6,955.47
personnel education
expense
Total 706,703.40 3,033,554.78 2,880,549.54 859,708.64
(3) Defined contribution plans
In RMB
Item Opening balance Increase during the year Decrease during the year Ending balance
1. Basic endowment
154,517.09 154,517.09
insurance
2. Unemployment
5,850.68 5,850.68
insurance
Total 160,367.77 160,367.77
Other explanation
No defaulted wages payable at end of the period
38. Tax payable
103
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
In RMB
Item Ending balance Opening balance
Value-added tax 2,345,559.33 3,391,621.62
Enterprise income tax 129,074.09 339,193.85
Individual income tax 139,291.45 23,164.05
Urban maintenance and construction tax 7,238.49 7,615.81
House property tax 90,141.20 45,070.60
Educational surtax & local educational
351.36 620.94
surcharge
Land holding tax 7,959.38
Stamp tax 13,741.20
Total 2,733,356.50 3,807,286.87
Other explanation
Nil
39. Interest payable
In RMB
Item Ending balance Opening balance
Interest overdue without paid:
In RMB
Borrower Amount overdue Reasons
Total 0.00 --
Other explanation
Nil
40. Dividends payable
In RMB
Item Ending balance Opening balance
Other explanation, including dividends payable with over one year age and disclosure un-payment reasons:
Nil
41. Other payable
(1) Classification of other payable according to nature of account
In RMB
104
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Item Ending balance Opening balance
Custodian and common benefit debts 18,639,499.20 18,919,942.85
Current money 6,500,000.00 6,500,000.00
Warranty and guarantee money 9,773,515.24 9,615,020.00
Other payable service charge (intermediary
305,554.80 707,252.91
services included)
Other 122,811.05 766,108.14
Total 35,341,380.29 36,508,323.90
(2) Significant other payable with over one year age
In RMB
Item Ending balance Reasons of un-paid or carry-over
Custodian and common benefit debts 9,194,762.20
Shenzhen Guosheng Energy Investment
6,500,000.00 Interest-free loans
Development Co., ltd.
Total 15,694,762.20 --
Other explanation
Nil
42. Liabilities hold for sale
In RMB
Item Ending balance Opening balance
Other explanation
Nil
43. Non-current liability due within one year
In RMB
Item Ending balance Opening balance
Other explanation
Nil
44. Other current liability
In RMB
Item Ending balance Opening balance
Changes of short-term bond payable:
105
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
In RMB
Accrual Premium/
Face Release Bond Issuing Opening Issued in interest discount Paid in Ending
Bond
value date period amount balance the Period by face amortizati the Period balance
value on
Total -- -- -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other explanation
Nil
45. Long-term loans
(1) Classification of long-term loans
In RMB
Item Ending balance Opening balance
Explanation:
Nil
Other explanation, including interest rate section:
Nil
46. Bonds payable
(1) Bonds payable
In RMB
Item Ending balance Opening balance
(2) Changes of bonds payable (not including the other financial instrument of preferred stock and
perpetual capital securities that classify as financial liability)
In RMB
Total -- -- -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(3) Convertible conditions and time for shares transfer for the convertible bonds
Nil
(4) Other financial instruments classify as financial liability
Basic information of the outstanding preferred stock and perpetual capital securities at period-end
Nil
Changes of outstanding preferred stock and perpetual capital securities at period-end
106
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
In RMB
Outstanding Period-begin Increase during the year Decrease during the year Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Total 0 0.00 0 0.00 0 0.00 0 0.00
Basis for financial liability classification for other financial instrument
Nil
Other explanation
Nil
47. Long-term account payable
(1) Listed by nature
In RMB
Item Ending balance Opening balance
Other explanation
Nil
48. Long-term employee payable
(1) Long-term employee payable
In RMB
Item Ending balance Opening balance
(2) Changes of defined benefit plans
Present value of the defined benefit plans:
In RMB
Item Current amount Last amount
Scheme assets:
In RMB
Item Current amount Last amount
Net liability (assts) of the defined benefit plans
In RMB
Item Current amount Last amount
Content of defined benefit plans and relevant risks, impact on future cash flow of the Company as well as times and uncertainty:
Nil
Major actuarial assumption and sensitivity analysis:
107
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Nil
Other explanation
Nil
49. Special payable
In RMB
Increase during the Decrease during the
Item Opening balance Ending balance Causes
year year
Total 0.00 0.00 --
Other explanation
Nil
50. Accrued liability
In RMB
Item Ending balance Opening balance Causes
Other explanation, including relevant important assumptions and estimation:
Nil
51. Deferred income
In RMB
Increase during the Decrease during the
Item Opening balance Ending balance Causes
year year
Total 0.00 0.00 --
Item with government grants involved:
In RMB
Amount
Amount Cost Assets-relate
Opening New grants reckoned in Other Ending
Item reckoned in reduction in d/income
balance in the Period non-operatio changes balance
other income the period related
n revenue
Total 0.00 0.00 0.00 0.00 0.00 --
Other explanation
Nil
52. Other non-current liability
In RMB
Item Ending balance Opening balance
108
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Other explanation
Nil
53. Share capital
In RMB
Changeduringtheyear(+,-)
Shares
Opening
New shares transferred Ending balance
balance Bonus share Other Subtotal
issued from capital
reserve
Total shares 551,347,947.00 0.00 551,347,947.00
Other explanation
No changes in the period
54. Other equity instrument
(1) Basic information of the outstanding preferred stock and perpetual capital securities at period-end
Nil
(2) Changes of outstanding preferred stock and perpetual capital securities at period-end
In RMB
Outstanding Period-begin Increase during the year Decrease during the year Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Total 0 0 0.00 0 0.00 0
Changes of other equity instrument, change reasons and relevant accounting treatment basis:
Nil
Other explanation
Nil
55. Capital reserve
In RMB
Item Opening balance Increase during the year Decrease during the year Ending balance
Other capital reserve 627,834,297.85 627,834,297.85
Total 627,834,297.85 627,834,297.85
Other explanation, including changes and reasons for changes:
109
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Among the other capital reserves, 135,840,297.18 Yuan refers to the payment for creditor from shares assignment
by whole shareholders; majority shareholder Guosheng Energy donated 5,390,399.74 Yuan.
56. Treasury stock
In RMB
Item Opening balance Increase during the year Decrease during the year Ending balance
Total 0.00 0.00
Other explanation, including changes and reasons for changes:
Nil
57. Other comprehensive income
In RMB
Current amount
Less: written in
other
Account comprehensive
Opening Belong to Belong to Ending
Item before income in
balance Less : income parent minority balance
previous period
income tax in and carried tax expense company after shareholders
tax after tax
the year forward to gains
and losses in
current period
Total other comprehensive income 0.00 0.00 0.00
Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial recognization adjustment for
the arbitraged items:
Nil
58. Special reserves
In RMB
Item Opening balance Increase during the year Decrease during the year Ending balance
Total 0.00 0.00
Other explanation, including changes and reasons for changes:
Nil
59. Surplus reserves
In RMB
Item Opening balance Increase during the year Decrease during the year Ending balance
Statutory surplus reserve 32,673,227.01 32,673,227.01
Total 32,673,227.01 0.00 0.00 32,673,227.01
110
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Other explanation, including changes and reasons for changes:
Nil
60. Retained profit
In RMB
Item Current period Last period
Retained profit at period-end before adjustment -1,195,957,201.01 -1,197,486,788.28
Retained profit at period-begin after adjustment -1,195,957,201.01 -1,197,486,788.28
Add: net profit attributable to shareholders of
554,162.06 1,529,587.27
parent company for this year
Retained profit at period-end -1,195,403,038.95 -1,195,957,201.01
Adjustment for retained profit at period-begin:
1). Retroactive adjustment due to the Accounting Standards for Business Enterprise and relevant new regulations, retained profit at
period-begin has 0.00 Yuan affected;
2) Due to the accounting policy changes, retained profit at period-begin has 0.00 Yuan affected;
3) Due to the major accounting errors correction, retained profit at period-begin has 0.00 Yuan affected;
4) Consolidation range changed due to the same control, retained profit at period-begin has 0.00 Yuan affected;
5) Total other adjustment impacts 0.00 Yuan retained profit at period-begin
61. Operating income and operating cost
In RMB
Current amount Last amount
Item
Income Cost Income Cost
Main business 63,664,151.78 59,106,390.80 45,537,967.15 43,692,197.03
Other business 4,070,747.57 2,057,815.53 3,391,709.12 1,994,075.80
Total 67,734,899.35 61,164,206.33 48,929,676.27 45,686,272.83
62. Business tax and surcharge
In RMB
Item Current amount Last amount
Urban maintenance and construction tax 29,269.66 45,604.48
Educational surtax 20,906.89 32,574.63
Stamp tax 25,561.20 13,173.94
Total 75,737.75 91,353.05
Other explanation
Nil
111
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
63. Sales expense
In RMB
Item Current amount Last amount
Remuneration & social public reserves 1,532,803.51 1,126,682.80
Business travel expenses 192,454.31 218,695.40
Leasing and property fee 188,033.90 180,047.47
Net sales fee 535,515.52 476,089.26
Other 307,120.29 467,186.94
Total 2,755,927.53 2,468,701.87
Other explanation
Nil
64. Administration expense
In RMB
Item Current amount Last amount
Remuneration & social public reserves 1,828,693.52 2,079,149.94
Leasing and property fee 709,919.19 702,602.38
Other 771,107.53 557,779.18
Total 3,309,720.24 3,339,531.50
Other explanation
Nil
65. Financial expense
In RMB
Item Current amount Last amount
Interest income -272,686.20 -213,713.97
Commission charge etc. 11,710.39 12,149.06
Total -260,975.81 -201,564.91
Other explanation
Nil
66. Loss from Assets depreciation
In RMB
Item Current amount Last amount
112
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
I. Bad debt losses 7,219.20 -47,271.09
Total 7,219.20 -47,271.09
Other explanation
Nil
67. Changes in fair value gains
In RMB
Changes resources Current amount Last amount
Other explanation
Nil
68. Investment income
In RMB
Item Current amount Last amount
Other explanation
Nil
69. Gains from assets disposal
In RMB
Sources Current amount Last amount
70. Other income
In RMB
Sources Current amount Last amount
71. Non-operating revenue
In RMB
Amount reckoned into
Item Current amount Last amount non-recurring gains/losses in
the Year
Other 72,126.28 291,710.58 72,126.28
Total 72,126.28 291,710.58 72,126.28
Government grants reckoned into current gains/losses:
In RMB
Item Granting Cause of Nature Impact Special Amount in Amount last Assets
113
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
subject distribution current profit benefit (Y/N) the period period related/incom
(Y/N) e related
Total -- -- -- -- -- 0.00 0.00 --
Other explanation
Nil
72. Non-operating expenditure
In RMB
Amount reckoned into
Item Current amount Last amount non-recurring gains/losses in
the Year
Other 30,140.00 30,140.00
Total 30,140.00 30,140.00
Other explanation
Nil
73. Income tax expense
(1) Income tax expense
In RMB
Item Current amount Last amount
Current income tax 233,133.98
Deferred income tax 11,629.41
Total 233,133.98 11,629.41
(2) Adjustment on accounting profit and income tax expenses
In RMB
Item Current amount
Total profit 725,050.39
Income tax measured by statutory/applicable tax rate 233,133.98
Income tax expenses 233,133.98
Other explanation
Total profit of the subsidiaries in consolidate statement was losses
74. Other comprehensive income
Found more in Note 57.
114
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
75. Items of cash flow statement
(1) Other cash received in relation to operation activities
In RMB
Item Current amount Last amount
Interest and Rent and utilities etc. 1,673,601.27 1,603,116.82
Other Current money 855,411.09 721,181.20
Total 2,529,012.36 2,324,298.02
Explanation on other cash received in relation to operation activities:
Nil
(2) Other cash paid in relation to operation activities
In RMB
Item Current amount Last amount
Payment of the period fee, operation
4,714,582.54 5,580,059.48
expenditure & common debt
Total 4,714,582.54 5,580,059.48
Explanation on other cash paid in relation to operation activities:
Nil
(3) Cash received from other investment activities
In RMB
Item Current amount Last amount
Explanation on cash received from other investment activities:
Nil
(4) Cash paid related with investment activities
In RMB
Item Current amount Last amount
Explanation on cash paid related with investment activities
Nil
(5) Other cash received in relation to financing activities
In RMB
Item Current amount Last amount
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深圳中华自行车(集团)股份有限公司 2018 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 Current amount Last amount
Explanation on cash paid related with financing activities:
Nil
76. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Supplementary information Current Period Last Period
1. Net profit adjusted to cash flow of
-- --
operation activities:
Net profit 491,916.41 -2,127,265.81
Add: Assets impairment provision 7,219.20 -47,271.09
Depreciation of fixed assets, consumption of
oil assets and depreciation of productive 184,546.75 145,136.97
biology assets
Amortization of intangible assets 376,500.00 376,500.00
Financial expense(gain listed with “-”) -201,564.91
Decrease of deferred income tax
11,629.41
asset( (increase is listed with “-”)
Decrease of inventory (increase is listed with
-2,033,200.69 -2,966,733.68
“-”)
Decrease of operating receivable accounts
-5,809,570.61 1,556,935.35
(increase is listed with “-”)
Increase of operating payable accounts
3,419,617.75 -5,553,408.47
(decrease is listed with “-”)
Net cash flow arising from operating
-3,362,971.19 -8,806,042.23
activities
2. Material investment and financing not
-- --
involved in cash flow
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 15,814,304.99 15,177,305.48
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Less: Balance of cash at year-begin 19,177,276.18 24,015,287.71
Net increasing of cash and cash equivalents -3,362,971.19 -8,837,982.23
(2) Net cash paid for obtaining subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation
Nil
(3) Net cash received by disposing subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation
Nil
(4) Constitution of cash and cash equivalent:
In RMB
Item Ending balance Opening balance
Ⅰ. Cash 15,814,304.99 19,177,276.18
Including: Cash on hand 55,753.64 100,034.87
Bank deposit available for payment at
15,758,551.35 18,837,402.11
any time
Other monetary fund available for
239,839.20
payment at any time
Ⅲ. Balance of cash and cash equivalent at
15,814,304.99 19,177,276.18
period-end
Other explanation
Nil
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
77. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period:
Nil
78. Assets with ownership or use right restricted
In RMB
Item Ending book value Restriction reasons
Total 0.00 --
Other explanation
Nil
79. Foreign currency monetary items
(1) Foreign currency monetary items
In RMB
Ending foreign currency
Item Convert rate Ending RMB balance converted
balance
Other explanation
Nil
(2) Explanation on foreign operational entity, including as for the major foreign operational entity,
disclosed main operation place, book-keeping currency and basis for selection; if the book-keeping
currency changed, explain reasons
□ Applicable √ Not applicable
80. Hedging
Disclosed hedging items and relevant hedging instrument based on hedging’s category, disclosed qualitative and quantitative
information for the arbitrage risks:
Nil
81. Other
Nil
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
VIII. Changes of consolidation range
1. Enterprise combined under different control
(1) Enterprise combined under different control in the Period
In RMB
Income of Net profit of
Standard to
Time point Cost of Ratio of Acquired acquiree from acquiree from
Purchasing determine the
Acquiree for equity equity equity way Equity purchasing purchasing
date purchasing
obtained obtained obtained obtained way date to date to
date
period-end period-end
Other explanation
Nil
(2) Combination cost and goodwill
In RMB
Combination cost
Determination method for fair value of the combination cost and contingent consideration and changes:
Nil
Main reasons for large goodwill resulted:
Nil
Other explanation
Nil
(3) Identifiable assets and liability on purchasing date under the acquiree
In RMB
Fair value on purchasing date Book value on purchasing date
Determination method for fair value of the identifiable assets and liabilities:
Nil
Contingent liability of the acquiree bear during combination:
Nil
Other explanation
Nil
(4) Gains or losses arising from re-measured by fair value for the equity held before purchasing date
Whether it is a business combination realized by two or more transactions of exchange and a transaction of obtained control rights in
the Period or not
119
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
□Yes √No
(5) On purchasing date or period-end of the combination, combination consideration or fair value of
identifiable assets and liability for the acquiree are un-able to confirm rationally
Nil
(6) Other explanation
Nil
2. Enterprise combined under the same control
(1) Enterprise combined under the same control in the Period
In RMB
Income of the Net profit of
combined the combined
Income of the Net profit of
party from party from
Basis of Standard to combined the combined
Equity ratio period-begin period-begin
combined Combination determine the party during party during
Acquiree obtained in of of
under the date combination the the
combination combination combination
same control date comparison comparison
to the to the
period period
combination combination
date date
Other explanation
Nil
(2) Combination cost
In RMB
Combination cost
Explanation on contingent consideration and its changes:
Nil
Other explanation
Nil
(3) Assets and liability of the combined party on combination date
In RMB
On purchasing date At end of last period
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Contingent liability of the combined party bear during combination:
Nil
Other explanation
Nil
3. Counter purchase
Basic transaction information, basis of counter purchase, whether making up business due to the assets and liability reserved by listed
company and basis, determination of combination cost, amount and calculation on adjusted equity by equity transaction
Nil
4. Subsidiary disposal
Whether lost controlling rights while dispose subsidiary on one time or not
□ Yes √ No
Whether lost controlling rights in the Period while dispose subsidiary on two or more steps or not
□ Yes √ No
5. Other reasons for consolidation range changed
Reasons for changed on consolidation range (such as new subsidiary established, subsidiary liquidated etc.)And relevant information
Nil
6. Other
Nil
IX. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main operation Share-holding ratio
Subsidiary Registered place Business nature Acquired way
place Directly Indirectly
Shenzhen
Emmelle Bicycle and spare Investment
Shenzhen Shenzhen 70.00%
Industrial Co., parts distribution establishment
Ltd.
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
Nil
Basis for controlling the invested entity with half or below voting rights held and without controlling invested entity but with over
half and over voting rights
121
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Nil
Controlling basis for the structuring entity included in consolidated range
Nil
Basis on determining to be an agent or consignor:
Nil
Other explanation
Nil
(2) Important non-wholly-owned subsidiary
In RMB
Dividend announced to
Share-holding ratio of Gains/losses attributable Ending equity of
Subsidiary distribute for minority in
minority to minority in the Period minority
the Period
Shenzhen Emmelle
30.00% -62,245.65 0.00 2,900,454.02
Industrial Co., Ltd.
Explanation on share-holding ratio of minority different from ratio of voting right:
Nil
Other explanation
Nil
(3) Main finance of the important non-wholly-owned subsidiary
In RMB
Ending balance Opening balance
Subsidia Non-curr Non-curr Non-curr Non-curr
Current Total Current Total Current Total Current Total
ry ent ent ent ent
assets assets liability liability assets assets liability liability
assets liability assets liability
Shenzhe
n
Emmelle 30,301,1 1,308,75 31,609,9 21,941,7 21,941,7 31,672,2 1,373,48 33,045,7 23,170,0 23,170,0
0.00 0.00
Industria 80.62 4.49 35.11 55.06 55.06 52.96 1.42 34.38 68.81 68.81
l Co.,
Ltd.
In RMB
Current amount Last amount
Cash flow Cash flow
Total Total
Subsidiary Operation from Operation from
Net profit comprehensi Net profit comprehensi
Income operation Income operation
ve income ve income
activity activity
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Shenzhen
Emmelle 44,367,011.1 46,225,592.7
-207,485.52 -207,485.52 1,114,664.36 -1,452,957.89 -1,452,957.89 -9,054,161.55
Industrial 8 7
Co., Ltd.
Other explanation
Nil
(4) Major restriction on using corporate assets and liquidate corporate debts
Nil
(5) Financial or other supporting provided to structuring entity that included in consolidated financial
statement
Nil
Other explanation
Nil
2. Transaction that has owners equity shares changed in subsidiary but still with controlling rights
(1) Owners equity shares changed in subsidiary
(2) Impact on minority’s interest and owners’ equity attributable to parent company
In RMB
Other explanation
3. Equity in joint venture and cooperative enterprise
(1) Important joint venture and cooperative enterprise
Share-holding ratio Accounting
treatment on
Main operation investment for
Name Registered place Business nature
place Directly Indirectly joint venture and
cooperative
enterprise
Share-holding ratio or shares enjoyed different from voting right ratio:
Basis of the voting rights with 20% below but with major influence, or without major influence but with over 20% (20% included)
voting rights hold:
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(2) Main financial information of the important joint venture
In RMB
Ending balance /Current amount Opening balance /Last amount
Other explanation
(3) Main financial information of the important cooperative enterprise
In RMB
Ending balance /Current amount Opening balance /Last amount
Other explanation
(4) Financial summary for un-important joint venture or cooperative enterprise
In RMB
Ending balance /Current amount Opening balance /Last amount
Joint venture -- --
Total numbers measured by share-holding
-- --
ratio
Cooperative enterprise -- --
Total numbers measured by share-holding
-- --
ratio
Other explanation
(5) Assets transfer ability has major restriction from joint venture or cooperative enterprise
(6) Excess losses from joint venture or cooperative enterprise
In RMB
Un-confirmed losses not
Cumulative un-confirmed Cumulative un-confirmed
Name recognized in the Period (or net
losses losses at period-end
profit enjoyed in the Period)
Other explanation
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(7) Un-confirmed commitment with investment concerned with joint venture
(8) Contingent liability with investment concerned with joint venture or cooperative enterprise
4. Co-runs operation
Share-holding ratio/ share enjoyed
Name Main operation place Registered place Business nature
Directly Indirectly
Share-holding ratio or shares enjoyed different from voting right ratio:
If the co-runs entity is the separate entity, basis of the co-runs classification
Other explanation
5. Equity in structuring entity that excluding in the consolidated financial statement
Relevant explanation
6. Other
X. Risk related with financial instrument
The major financial instruments of the Company consist of monetary funds, trade receivables, other receivables,
trade payables, other payables, etc. details of these financial instruments are disclosed in the relevant notes. Risks
relating to these financial instruments and risk management policies adopted by the Company to minimize these
risks are detailed as follows. Management of the Company manages and monitors the risk exposures, to make sure
they are under control.
1. Risk management targets and policies
The objectives of the Company’s risk management is to balance the risk and income, reduce the negative risk
impact of operating performance to the lowest level, maximize the interests of shareholders and other equity
investors. Based on these objectives, the Company has established risk management policies to identify and
analyze the risks faced by the Company, set adequate risk acceptable level and designed relevant internal control
system to monitor the level of risks. The Company regularly reviews these policies and related internal control
system to adapt to market development and change of operating activities of the Company. The major risks arising
from the Company’s financial instruments are credit risk and liquidity risk.
(1)Credit risk
Credit risk represents the risk of financial loss suffered by a party to a financial instrument due to failure of
performance obligation of another party.
Credit risk of the Company is managed by category. Credit risk mainly arises from bank deposits and trade
receivables. Since the bank deposits of the Company are mainly placed with those banks of high credit rating, the
125
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Company expects no significant credit risk on bank deposits.
As for trade receivables, the Company establishes relevant policies to control credit risk exposure. The Company,
based on financial position of debtors, their credit records, market conditions and other factors, makes assessment
on debtors’ credit quality and sets relevant limit on amount of debt and credit term. The maximum credit risk
exposure assumed by the Company equals to the sum of carrying value of every financial asset in the balance
sheet. The Company provides no guarantee that may lead it to be exposed to credit risks.
(2)Liquidity risk
Liquidity risk refers to the risk of capital shortage of the Company when performing settlement obligation via
delivery of cash or other financial assets.
When managing liquidity risk, the Company maintains and monitors such cash and cash equivalents as deemed
adequate by the management, so as to satisfy its operation needs and minimize influence of fluctuation of cash
flow. Management of the Company monitors application of bank borrowings to make sure it complies with
relevant borrowing agreements.
2. Capital management
The capital management policy of the Company is designed to ensure sustainable operation Of the Company so as
to bring shareholders return and benefit other stakeholders, and to minimize capital cost by maintaining optimal
capital structure.
In order to maintain and adjust capital structure, the Company may adjust share dividend paid to shareholders or
issue new shares.
The Company monitors capital structure based on gearing ratio (total liabilities divided by total assets). As at 30
June 2018, the gearing ratio of the Company was 72.68% (31 December 2017: 74.36%)
XI. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured by fair value
In RMB
Ending fair value
Item
First-order Second-order Third-order Total
I. Sustaining measured by
-- -- -- --
fair value
(I) Financial assets
0.00
measured at fair value and
126
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
changes accounted in the
current profits and losses
1. Transaction financial
0.00
assets
(1) Investment in debt
0.00
instruments
(2) Investment in equity
0.00
instruments
(3) Derivative financial
0.00
assets
2. Financial assets
appointed to measure at
fair value and changes 0.00
accounted in the current
profits and losses
(1) Investment in debt
0.00
instruments
(2) Investment in equity
0.00
instruments
(II) Financial assets
0.00
available for sale
(1) Investment in debt
0.00
instruments
(2) Investment in equity
0.00
instruments
(3) Other 0.00
(III) Investment real estate 0.00
1. Rental land use rights 0.00
2. Rental buildings 0.00
3. Land use rights holding
and preparing to transfer 0.00
after add value
(IV) Biological assets 0.00
1. Consumption biological
0.00
assets
2. Productive biological
0.00
assets
Total assets continuously
0.00
measured by fair value
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(V) Transaction financial
0.00
liabilities
Among them: issue of
0.00
transaction bonds
Derivative
0.00
financial liabilities
Other 0.00
(VI) Financial liabilities
appointed to measure at
fair value and changes 0.00
accounted in the current
profits and losses
Total liabilities
continuously measured by 0.00
fair value
II. Non-sustaining
-- -- -- --
measured by fair value
(I) Assets held for sale 0.00
Total assets
non-continuously 0.00
measured by fair value
Total liabilities
non-continuously 0.00
measured by fair value
2. Recognized basis for the market price sustaining and non-persistent measured by fair value on
first-order
Nil
3. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on second-order
Nil
4. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on third-order
Nil
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
5. Adjustment information and sensitivity analysis of unobservable parameters for the fair value measure
sustaining and non-persistent on third-order
Nil
6. Sustaining items measured by fair value, as for the conversion between at all levels, reasons for
conversion and policy for conversion time point
Nil
7. Changes of valuation technique in the Period
Nil
8. Financial assets and liability not measured by fair value
Nil
9. Other
Nil
XII. Related party and related transactions
1. Parent company of the enterprise
Share-holding ratio
Voting right ratio on
Parent company Registration place Business nature Registered capital on the enterprise for
the enterprise
parent company
Explanation on parent company of the enterprise
We do not have parent company presently
Ultimate controlling party: Nil
Other explanation:
Controlling shareholder and actual controller of the Company have changed on 20 Feburary 2017. Before changed, the first majority
shareholder of the Company was Shenzhen Guosheng Energy Investment Developmetn Co., Ltd., actual controller was Mr. Ji Hanfei;
the Company has no actual controller and controlling shareholder after changed. Found more in the Annual Report 2016 released on
27 April 2017 and “Reply on Surveillance Attention Letter on CBC from Shenzhen Stock Exchange” released on 26 May 2017
2. Subsidiary of the Enterprise
Found more in Note IX-1
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
3. Cooperative enterprise and joint venture
Found more in Note IX-3
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in pervious
period
Name Relationship
Other explanation
Nil
4. Other related party
Other related party Relationship with the Enterprise
Shenzhen Guosheng Energy Investment Development Co., Ltd. The first majority shareholder
Other explanation
Shenzhen Guosheng Energy Investment Development Co., Ltd. holds 11.52% shares
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Approved transaction Whether more than
Related party Content Current amount Last amount
amount the transaction amount
Goods sold/labor service providing
In RMB
Related party Content Current amount Last amount
Explanation on goods purchasing, labor service providing and receiving
Nil
(2) Related trusteeship/contract and delegated administration/outsourcing
Trusteeship/contract
In RMB
Income from
Client/ Entrusting party/ Yield pricing
Assets type Starting date Maturity date trusteeship/contra
contract-out party contractor basis
ct
Explanation on related trusteeship/contract
Nil
Delegated administration/outsourcing
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
In RMB
Pricing basis of trustee
Client/
Entrusting party/ trustee fee/outsourcing
contract-out Assets type Starting date Maturity date
contractor fee/outsourcing fee recognized in
party
fee the Period
Explanation on related administration/outsourcing
Nil
(3) Related lease
As a lessor for the Company:
In RMB
Lease income in recognized in Lease income in recognized last
Lessee Assets type
the Period the Period
As a lessee for the Company:
In RMB
Lease income in recognized in Lease income in recognized last
Lessor Assets type
the Period the Period
Explanation on related lease
Nil
(4) Related guarantee
As a guarantor for the Company
In RMB
Guarantee completed
Secured party Amount guarantee Starting date Maturity date
(Y/N)
As a secured party for the Company
In RMB
Guarantee completed
Guarantor Amount guarantee Starting date Maturity date
(Y/N)
Explanation on related guarantee
Nil
(5) Borrowed funds of related party
In RMB
Related party Borrowed funds Starting date Maturity date Note
Borrowing
Lending
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(6) Assets transfer and debt restructuring of related party
In RMB
Related party Transaction content Current amount Last amount
(7) Remuneration of key manager
In RMB
Item Current amount Last amount
Remuneration of key manager 1,258,900.00 1,091,420.00
(8) Other related transactions
Nil
6. Receivable/payable items of related parties
(1) Receivable item
In RMB
Ending balance Opening balance
Item Related party
Book balance Bad debt provision Book balance Bad debt provision
(2) Payable item
In RMB
Item Related party Ending book balance Opening book balance
Shenzhen Guosheng Energy
Other account payable Investment Development Co., 6,500,000.00 6,500,000.00
Ltd.
7. Commitments of related party
Nil
8. Other
Nil
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
XIII. Share-based payment
1. General share-based payment
□ Applicable √ Not applicable
2. Share-based payment settled by equity
□ Applicable √ Not applicable
3. Share-based payment settled by cash
□ Applicable √ Not applicable
4. Revised and termination on share-based payment
Nil
5. Other
Nil
XIV. Commitment or contingency
1. Important commitments
Important commitments in balance sheet date
Nil
2. Contingency
(1) Contingency on balance sheet date
Nil
(2) For the important contingency not necessary to disclosed by the Company, explained reasons
The Company has no important contingency that need to disclosed
3. Other
Nil
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
XV. Events after balance sheet date
1. Important non-adjustment items
In RMB
Impact on financial status and Reasons on un-able to estimated
Item Content
operation results the impact number
2. Profit distribution
In RMB
3. Sales return
Nil
4. Other events after balance sheet date
Nil
XVI. Other important events
1. Previous accounting errors collection
(1) Retrospective restatement
In RMB
Impact items of statement
Content Treatment procedures Cumulative impacted number
during a comparison
(2) Prospective application
Reasons for prospective application
Accounting error correction Approval procedures
adopted
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
2. Debt restructuring
3. Assets replacement
(1) Non-monetary assets replacement
(2) Other assets replacement
4. Pension plan
5. Discontinued operations
In RMB
Discontinued
operations profit
Income tax
Item Revenue Expenses Total profit Net profit attributable to
expenses
owners of parent
company
Other explanation
6. Segment
(1) Recognition basis and accounting policy for reportable segment
(2) Financial information for reportable segment
In RMB
Item Offset between segments Total
(3) The Company has no reportable segments, or unable to disclose total assts and total liability for
reportable segments, explain reasons
(4) Other explanation
7. Major transaction and events makes influence on investor’s decision
8. Other
1. Instructions for continuing operations
On 11 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 12 October
135
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
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 25 October 2012 according
to (2012) Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen)
Mallesons and Shenzhen ZhengYuan Liquidation Affairs Co., Ltd. as the custodians of the Company.
Subsequently, 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
the Company 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.
2. Non-public placement for year of 2016
In July 2016, the Company started to plan a non-public issue of shares with proceeds to be utilized to acquire
material assets. The Plan on Non-public Issue of A shares in 2016 was considered and approved by the Board of
the Company. Based on the due diligence, audit, assessment and business negation with intermediates, taking into
account the conditions of capital market and actual conditions of the Company, the Board of the Company
considered and approved the Proposal Relating to Adjusting the Plan of non-public of A Shares, the Explanation
on non-public of A-shares for year of 2016 Amendment, the Plan on Non-public Issue of A shares in 2016
(amended), the Plan on Non-public Issue of A shares in 2016 (Second Amended) and Plan on Non-public Issue of
A shares in 2016 (Third Amended) from February 2017 to February 2018. According to the three revised drafts,
the number of non-public offering of shares should not exceed 110,269,586 shares, and the total amount of funds
raised should not exceed 750 million Yuan. The issuing objects of this non-public offering include four specific
investors which are Ruian Information, Zhisheng High-tech, Wansheng Industry and Beier High-tech. The
subscription amount of Ruian Information does not exceed 250 million Yuan, and the number of subscribed
shares does not exceed 36,756,529 shares; the subscription amount of Zhisheng High-tech does not exceed 200
million Yuan, and the number of subscribed shares does not exceed 29,405,223 shares; the subscription amount of
Wansheng Industry and Beier High-tech respectively does not exceed 150 million Yuan, and the number of
subscribed shares does not exceed 22,053,917 shares respectively. See details on the announcement issued by the
board of directors of the company.
136
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
The Company convened the first extraordinary general meeting of 2018 on February 13, 2018 which reviewed
and passed the Proposal on Plan on Non-public Issue of A shares in 2016 (Third Amended), etc.
XVII. Principle notes of financial statements of parent company
1. Accounts receivable
(1) Category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Types Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Account receivable
withdrawal bad debt
17,059,5 51,178.5 17,008,33 17,733, 17,680,663.
provision by group of 100.00% 0.30% 100.00% 53,201.59 0.30%
17.71 5 9.16 864.75 16
credit risk
characteristics
17,059,5 51,178.5 17,008,33 17,733, 17,680,663.
Total 100.00% 0.30% 100.00% 53,201.59 0.30%
17.71 5 9.16 864.75 16
Receivable with single significant amount and withdrawal bad debt provision separately at end of period:
□ Applicable √ Not applicable
In combination, accounts receivable whose bad debts provision was accrued by age analysis:
√ Applicable □ Not applicable
In RMB
Ending balance
Age
Account receivable Bad debt provision Accrual ratio
Within 1 year
Within 1 year 17,059,517.71 51,178.55 0.30%
Subtotal within one year 17,059,517.71 51,178.55 0.30%
Total 17,059,517.71 51,178.55 0.30%
Explanation on combination determines:
According to the business scale, business nature, and customers’ settlement, etc., the account receivable with single significant
amount is determined to be RMB 5 million. The account receivable with single significant amount has no depreciation reserve, and
the reserve for bad debt provision is withdrawn with age analysis method.
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:
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(2) Bad debt provision accrual collected or switch back
Bad debt provision accrual was 53,201.59 Yuan; the amount collected or switches back amounting to 2,023.04 Yuan.
Important bad debt provision collected or switch back:
In RMB
Company Collected or switch back amount Collection way
Total 0.00 --
Nil
(3) Account receivable actual charge off in the Period
In RMB
Item Amount written off
Written-off for the major receivable:
In RMB
Verification Arising from related
Company Nature Amount written off Reason for write-off
procedures transaction (Y/N)
Total -- 0.00 -- -- --
Explanation for write-off of receivables:
Nil
(4) Top 5 receivables at ending balance by arrears party
Top 5 account recevieblaes at period-end
Bad debt Ratio in total
Relationship with
Item Amount Account age provision receivables Nature
the company
(%)
Shenzhen WTR New Energy Unrelated party 7,923,335.39 Within 1 year 23,770.00 46.44 Paymen
Technology Co., Ltd. t for
goods
Shenzhen BoYiN Technology Unrelated party 5,217,743.51 Within 1 year 15,653.23 30.59 Paymen
Co., Ltd. t for
goods
Shenzhen Jiahaosong Unrelated party 3,918,438.81 Within 1 year 11,755.32 22.97 Paymen
Technology Co., Ltd. t for
goods
Total 17,059,517.71 51,178.55 100.00
138
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(5) Receivable derecognition due to transfer of financial assets
Nil
(6) Assets and liability resulted by receivable transfer and continuous involvement
Nil
Other explanation
At end of the period, there was no account receivable from shareholder unit and other related parties that holds 5%
(included) voting rights of the Company among Account Receivables
2. Other accounts receivable
(1) Other accounts receivable by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Other receivables
with bad debt 256,350. 255,580.9 251,350
100.00% 769.05 0.30% 89.34% 754.05 0.30% 250,595.95
provision accrual by 00 5 .00
credit portfolio
Other account
receivable with
individual minor
29,980.
amount but 10.66% 29,980.42
42
withdrawal bad debt
provision
independently
256,350. 255,580.9 281,330
Total 100.00% 769.05 0.30% 100.00% 754.05 0.27% 280,576.37
00 5 .42
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
Ending balance
Age
Other receivable bad debts provision Accrual ratio
Within 1 year
139
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Within one year (one year
5,000.00 15.00 0.30%
included)
Subtotal within one year 5,000.00 15.00 0.30%
1-2 years 200.00 0.60 0.30%
2-3 years 251,150.00 753.45 0.30%
Total 256,350.00 769.05 0.30%
Explanation on combination determines:
According to the business scale, business nature, and customers’ settlement, etc., the account receivable with single significant
amount is determined to be RMB 5 million. The account receivable with single significant amount has no depreciation reserve, and
the reserve for bad debt provision is withdrawn with age analysis method.
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
(2) Bad debt provision accrual collected or switch back
Bad debt provision accrual was 15.00 Yuan; the amount collected or switches back amounting to 0.00 Yuan.
Important bad debt provision collected or switch back:
In RMB
Company Amount reversal or collected Collection way
Total 0.00 --
Nil
(3) Other receivables actually written-off during the reporting period
In RMB
Item Amount written off
Written-off for the major other receivable:
In RMB
Nature of other Verification Arising from related
Company Amount written off Reason for write-off
receivables procedures transaction (Y/N)
Total -- 0.00 -- -- --
Explanation for write-off of other receivables:
Nil
(4) Other receivables by nature
In RMB
140
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Nature Ending book balance Opening book balance
Intercourse funds 29,980.42
Margin or deposit 239,950.00 239,950.00
Equipment money 11,400.00 11,400.00
Staff borrowing 5,000.00
Total 256,350.00 281,330.42
(5) Top 5 other receivables at ending balance by arrears party
In RMB
Ratio in total ending
Ending balance of
Company Nature Ending balance Age balance of other
bad bet provision
receivables
Shenzhen Material
Deposit or margin 135,723.00 2-3 years 52.94% 407.17
Group Co., Ltd.
Shenzhen Anjinheng
Deposit or margin 90,100.00 2-3 years 35.15% 270.30
Industrial Co., Ltd.
Shenzhen Baifanghe
Deposit or margin 13,627.00 2-3 years 5.31% 40.88
Property Co., Ltd.
Shenzhen Hongkang
Instrument Equipment money 11,400.00 2-3 years 4.45% 34.20
Technology Co., Ltd.
Cui Hongxia Staff borrowing 5,000.00 Within 1 year 1.95% 15.00
Total -- 255,850.00 -- 99.80% 767.55
(6) Account receivable with government grants involved
In RMB
Time, amount and basis
Company Item Ending balance Ending age of amount collection
estimated
Total -- 0.00 -- --
Nil
(7) Other account receivable derecognition due to financial assets transfer
Nil
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
(8) Assets and liability resulted by other account receivable transfer and continuous involvement
Nil
Other explanation
Nil
3. Long-term equity investment
In RMB
Ending balance Opening balance
Item
Book balance Impairment Book value Book balance Impairment Book value
Investment for
1,400,000.00 1,389,620.27 10,379.73 1,400,000.00 1,389,620.27 10,379.73
subsidiary
Total 1,400,000.00 1,389,620.27 10,379.73 1,400,000.00 1,389,620.27 10,379.73
(1) Investment for subsidiary
In RMB
Ending balance of
Increase during Decrease during Impairment
The invested entity Opening balance Ending balance impairment
the year the year accrual
provision
Shenzhen
Emmelle Industrial 1,400,000.00 0.00 0.00 1,400,000.00 0.00 1,389,620.27
Co., Ltd.
Total 1,400,000.00 0.00 0.00 1,400,000.00 0.00 1,389,620.27
(2) Investment for associates and joint venture
In RMB
+,-
Ending
Other Cash
Investme balance
Additiona comprehe dividend
Opening nt gains Other Ending of
Company l Capital nsive or profit Impairme
balance recognize equity Other balance impairme
investmen reduction income announce nt accrual
d under change nt
t adjustmen d to
equity provision
t issued
I. Joint venture
Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Associated enterprise
Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(3) Other explanation
Nil
4. Operating income and cost
In RMB
Current amount Last amount
Item
Income Cost Income Cost
Main business 20,600,065.94 18,788,402.55
Other business 3,423,452.74 2,057,815.53 3,228,905.96 1,994,075.80
Total 24,023,518.68 20,846,218.08 3,228,905.96 1,994,075.80
Other explanation
Nil
5. Investment gains
In RMB
Item Current amount Last amount
6. Other
Nil
XVIII. Supplementary Information
1. Current non-recurring gains/losses
√ Applicable □ Not applicable
In RMB
Item Amount Note
Other non-operating income and expenditure
41,986.28
except for the aforementioned items
Less: Impact on income tax 17,026.35
Impact on minority shareholders’ equity -7,835.74
Total 32,795.67 --
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
143
深圳中华自行车(集团)股份有限公司 2018 年半年度报告全文
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
2. REO and earnings per share
Earnings per share
Profits during report period Weighted average ROE
Basic EPS (RMB/Share) Diluted EPS (RMB/Share)
Net profits belong to common stock
3.43% 0.0010 0.0010
stockholders of the Company
Net profits belong to common stock
stockholders of the Company after
3.22% 0.0009 0.0009
deducting nonrecurring gains and
losses
3. Difference of the accounting data under accounting rules in and out of China
(1) Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
(3) Explain accounting difference over the accounting rules in and out of China; as for the difference
adjustment for data audited by foreign auditing organ, noted the name of such foreign organ
Nil
4. Other
Nil
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深圳中华自行车(集团)股份有限公司 2018 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. Originals documents of the Company and manuscripts of public notices that disclosed in the newspaper
designated by CSRC in the report period
3. English version of the Semi-Annual Report 2018
145
