Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
Stock Code: 000019, 200019 Notice No: 2011-39
Short Form of the Stock: SHENSHENBAO-A, SHENSHENBAO-B
SHENZHEN SHENBAO INDUSTRIAL CO., LTD.
SUMMARY OF SEMI-ANNUAL REPORT 2011
§1. Important Notes
1.1 Board of Directors and Supervisory Committee of Shenzhen Shenbao Industrial Co., Ltd.
(hereinafter referred to as the Company) and its directors, supervisors and senior executives hereby
confirm that there are no any important omissions, fictitious statements or serious misleading
information carried in this report, and shall take all responsibilities, individual and/or joint, for the
reality, accuracy and completion of the whole contents.
The summary of semi-annual report is abstracted from the semi-annual report 2011; and full text of
the semi-annual report is published on the Internet website http://www.cninfo.com.cn in the mean
time. The investors are suggested to read the full text of semi-annual report 2011 to understand
more details.
1.2 No director, supervisor and senior executive stated that he (she) couldn’t ensure the correctness,
accuracy and completeness of the contents of the Semi-annual Report 2011 or have objection to this
report.
1.3 All the directors attended the meeting on discussing the Semi-annual Report.
1.4 The Semi-annual Financial Report 2011 of the Company has not been audited.
1.5 Chairman of the Board Mr. Zheng Yuxi, current General Manager Mr. Yan Zesong, previous
General Manager Mr. Peng Ying and CFO Ms. Zeng Suyan hereby confirm that the Financial
Report of the Semi-annual Report is true and complete.
1.6 This Semi-annual report has been prepared in Chinese version and English version respectively.
In the event of difference in interpretation between the two versions, the Chinese report shall
prevail.
§2. Company Profile
2.1 Basic information
Short form of stock SHENSHENBAO-A, SHENSHENBAO-B
Stock code 000019, 200019
Listed stock exchange Shenzhen Stock Exchange
Secretary of the Board Securities affairs representative
Name Ms. Li Yiyan Mr. Zheng Guibo
23/F, No.26 Educational Technology Building, Zizhuqidao, 4th Road
Contact address
Zhuzilin, Futian District, Shenzhen
Telephone 0755-82027522
Fax 0755-82027522
E-mail lyy@ sbsy.com.cn zhenggb@ sbsy.com.cn
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
2.2 Major Financial Data and Indexes
2.2.1 Major accounting data and financial indexes
Increase/decrease at the
At the end of end of this report period
At the period-end
this report compared with that in
of last year
period period-end of last year
(%)
Total assets(RMB) 1,165,535,518.18 658,468,839.95 77.01%
Owners’ equity attributable to
shareholders of the listed company 887,292,634.00 325,092,060.80 172.94%
(RMB)
Share capital(Share) 250,900,154.00 181,923,088.00 37.92%
Net assets per share attributable to
shareholders of the listed 3.54 1.79 97.77%
company(RMB/Share)
This report Increase/decrease in this
The same period
period (Jan. to report period
of last year
June) year-on-year (%)
Total operating income(RMB) 139,922,991.06 98,031,142.11 42.73%
Operating profit (RMB) -8,639,594.03 -19,960,777.66 56.72%
Total profit(RMB) 8,733,411.67 -17,168,300.74 150.87%
Net profit attributable to shareholders of
4,396,354.98 -18,263,527.21 124.07%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting -12,866,651.90 -20,565,188.38 37.43%
non-recurring gains and losses(RMB)
Basic earnings per share (RMB/Share) 0.0242 -0.1004 124.07%
Diluted earnings per share (RMB/Share) 0.0242 -0.1004 124.07%
Weighted average return on equity (%) 1.34% -5.87% 7.21%
Weighted average return on equity after
deducting non-recurring gains and -3.93% -6.61% 2.68%
losses (%)
Net cash flow arising from operating
-8,272,410.63 -6,132,118.35 -34.90%
activities(RMB)
Net cash flow per share arising from
-0.0330 -0.0337 2.18%
operating activities (RMB/Share)
2.2.2 Items of non-recurring gains and losses
√Applicable □Inapplicable
Unit: RMB
Items of non-recurring gains and losses Amount
Gains and losses from the disposal of non-current asset -21,707.57
Governmental subsidy calculated into current gains and losses, while closely related
with the normal business of the Company, excluding the fixed-amount or 310,048.00
fixed-proportion governmental subsidy according to the unified national standard
Gains and losses from fair value change arising from holding transactional financial
asset and transactional financial liability, and investment income from disposal of -42,000.00
transactional financial assets, transactional liability and financial assets available for
sale besides of hedge relevant to normal operating business
Other non-operating income and expenditure beside for the aforementioned items 17,088,944.71
Impact on income tax -82,282.16
Influenced amount of minority shareholders’ equity 10,003.90
Total 17,263,006.88
2.2.3 Differences between CAS and IAS:
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
√Applicable □Inapplicable
Unit: RMB
Net profit attributable to Owners’ equity attributable to
shareholders of listed company shareholders of listed company
Amount in the Amount in last Amount in Amount in
report period period period-end period-begin
IAS 4,396,354.98 -18,263,527.21 888,995,232.77 326,794,659.57
CAS 4,396,354.98 -18,263,527.21 887,292,634.00 325,092,060.80
Sub-items and total adjusted based on IAS:
1. Adjustment on
amortization of
_ _ 1,016,958.04 1,016,958.04
differences of
equity investment:
2. Adjustment on
cost of transferring
_ _ -381,359.27 -381,359.27
Shenzhen Pepsi’s
equity
3. Adjustment on
other account _ _ 1,067,000.00 1,067,000.00
payable
Total amount of
differences between _ _ 1,702,598.77 1,702,598.77
CAS and IAS
In the first half of year 2011, the net profit attributable to owners of the parent
Explanations on company calculated based on CAS and on IAS shows no differences between
differences between them. At the end of period, difference between the shareholders’ equity
CAS and IAS attributable to parent company calculated based on CAS and on IAS were
showed in the above sub-items.
§3. Changes in Share Capital and Particulars about Shareholders
3.1 Statement of change in shares
√Applicable □Inapplicable
(I) Issuance and listing of stock
Approved by ZJXK [2011] No. 777 document of Reply about Approving the Non-Public Issuing of
Stocks of Shenzhen Shenbao Industrial Co., Ltd issued by CSRC, the Company issued 68,977,066
shares of RMB ordinary share (Stock A) to 8 special investors with price of 8.7 yuan per share,
totally collecting RMB 600,100,474.20. The net amount of actual raised capital was RMB
572,392,141.89 after deducting RMB 27,708,332.31 of issuing expense. Including, 4 related natural
people namely Ms. Lin Yixiang, Mr. Xia Zhenzhong, Ms. Cao Lijun and Ms. Zheng Lingna
subscribed with their gathering 48.33% equity holding from Shenbao Huacheng while another 4
investors namely Shenzhen Tianzhong Investment Co., Ltd, Ms. Li Duruo, XinJiang Xiehe Equity
Investment Partner Corporation (limited partner) and Yinfu (Tianjin) Equity Investment
Management Partner Corporation (limited partner) subscribed in cash. Approved by LXDHYZi
[2011] No. 177 document of the Capital Verification Report issued by BOD China Lixin Dahua
CPA Co., Ltd, all the raised capital of this time of non-public issuing had been paid up on Jun. 23 of
2011, which the Company had deposited them in specific account. registration and entrust
procedure over theses shares had been accomplished in China Securities Depository and Clearing
Co., Ltd. Branch in Shenzhen on Jun. 27 of 2011. On July 1 of 2011, they were registered and on
July 4 of 2011 all the newly increased shares were listed in Shenzhen Stock Exchange. The transfer
procedure over the 48.33% equity of Shenbao Huacheng was handled on June 8, 2011.
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
(II) Amount of shares and change
On July 12 of 2011, the commercial and industrial procedure over the newly increased shares was
handled thus share capital of the Company became 250,900,154 shares. The nature of these new
shares was restricted current shares. The predicted listing and trading date of shares subscribed by 4
relevant natural people was July 4 of 2014 while the date of the shares subscribed by other specific
objects was July 4 of 2012. The particulars of shares held by the 8 specific investors were as follow:
Placing Amount of ration in total Restriction
No. Issuing object shares placing shares after duration
(share) (yuan) the issuing (month)
1 Lin Yixiang 2,561,002 22,280,717.40 1.02% 36
2 Xia Zhenzhong 2,134,917 18,573,777.90 0.85% 36
3 Cao Lijun 2,012,758 17,510,994.60 0.80% 36
4 Zheng Lingna 774,137 6,734,991.90 0.31% 36
5 Li Duruo 13,252,874 115,300,003.80 5.28% 12
Shenzhen
6 Tianzhong 24,983,908 217,359,999.60 9.96% 12
Investment Co., Ltd
Xinjiang Xiehe
Equity Investment
7 11,595,402 100,879,997.40 4.62% 12
Partner Corporation
(limited partner)
Yinfu (Tianjin)
Equity Investment
8 Management 11,662,068 101,459,991.60 4.65% 12
Partner Corporation
(limited partner)
Total 68,977,066 600,100,474.20 27.49% --
Note: remaining of the latter 2 figures after decimal point based on rounded-up arrear will lead
difference between the summation of arrears and collective vale. It is the same below.
Excluding the above events, in reporting period the Company had no change on total amount of
shares and structure owing to bonus shares, converted new shares, placing shares, and combination,
shares transferred from convertible bonds, capital decrease or other factors. Till July 1 of 2011, the
capital share of the Company was as follow:
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
(As at 1 July 2011 Unit: share)
Before the change Increase/Decrease of this time (+, -) After the change
Bon Capitaliz
Proporti New shares us ation of Other Propor
Amount Subtotal Amount
on issued shar public s tion
es reserve
I. Restricted 14,553,847 8.00% 68,977,066 --- --- --- 68,977,066 83,530,913 33.29%
shares
1. State-owned --- --- --- --- --- --- --- --- ---
shares
2. State-owned
legal person’s 6,783,729 3.73% --- --- --- --- --- 6,783,729 2.70%
shares
3. Other
domestic 7,770,118 4.27% 68,977,066 --- --- --- 68,977,066 76,747,184 30.59%
shares
Including:
Domestic
non-state-owne 7,770,118 4.27% 48,241,378 --- --- --- 48,241,378 56,011,496 22.32%
d legal person’s
shares
Domestic
natural --- --- 20,735,688 --- --- --- 20,735,688 20,735,688 8.26%
person’s shares
4. Foreign --- --- --- --- --- --- --- --- ---
shares
Including:
Foreign legal --- --- --- --- --- --- --- --- ---
person’s shares
Foreign natural --- --- --- --- --- --- --- --- ---
person’s shares
5. Senior
executives’ --- --- --- --- --- --- --- --- ---
shares
II. Unrestricted 167,369,241 92.00% --- --- --- --- --- 167,369,241 66.71%
shares
1. RMB
Ordinary 141,233,241 77.63% --- --- --- --- --- 141,233,241 56.29%
shares
2.
Domestically 26,136,000 14.37% --- --- --- --- --- 26,136,000 10.42%
listed foreign
shares
3. Overseas
listed foreign --- --- --- --- --- --- --- --- ---
shares
4. Others --- --- --- --- --- --- --- --- ---
III. Total shares 181,923,088 100.00% 68,977,066 --- --- --- 68,977,066 250,900,154 100%
Note: the above sheet was complied based on the Share Structure Sheet of Listed Companies
offered by China Securities Registration and Clearing LLC Branch in Shenzhen. Till July 1 of 2011,
the 68,977,066 shares of non-public A Stock issued to the 8 specific investors had been registered.
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
3.2 Particulars about shares held by the top ten shareholders and the top ten shareholders
with unrestricted conditions
Unit: Share
Total shareholders till 23,845
period-end
Particulars about shares held by the top ten shareholders
Propor
tion of
share-
Nature holdin Amount of Amount of
Names of shareholders (full of restricted Shares pledged
name) sharehol g in share held shares held or frozen
der the (share) (share) (share)
day of
Jun. 1
(%)
SHENZHEN AGRICULTURAL 19.09 47,895,097
RODUCTS CO., LTD. Other 7,770,118 0
State-own
SHENZHEN INVESTMENT ed 16.00 40,143,586
HOLDING CO., LTD. sharehold 6,783,729 0
er
Bank of China Industrial and Other
Commercial- Galaxy Yintai 0.32
Financial Dividends Securities 0 0
Investment Fund 799,900
Zhou Cuijin Other 0.20 500,000 0 0
Li Wenwei Other 0.20 492,600 0 0
Huang Xiangdong Other 0.19 474,689 0 0
Lai Wei Other 0.15 375,500 0 0
Lu Yongming Other 0.14 345,461 0 0
Chen Chunfeng Other 0.14 341,880 0 0
Zhang Shu Other 0.13 335,631 0 0
Particulars about the shares held by the top ten unrestricted shareholders
Full Name of shareholder Amount of unrestricted shares Type of shares
held (share)
SHENZHEN AGRICULTURAL 40,124,979 A share
RODUCTS CO., LTD.
SHENZHEN INVESTMENT 33,359,857 A share
HOLDING CO., LTD.
Bank of China Industrial and
Commercial- Galaxy Yintai
Financial Dividends Securities A share
Investment Fund 799,900
Zhou Cuijin 500,000 A share
Li Wenwei 492,600 A share
Huang Xiangdong 474,689 B share
Lai Wei 375,500 A share
Lu Yongming 345,461 A share
Chen Chunfeng 341,880 A share
Zhang Shu 335,631 B share
STATE-OWNED ASSETS SUPERVISION & ADMINISTRATION
Explanation on associated COMMISSION OF SHENZHEN MUNICIPALITY GOVERNMENT
relationship or accordant directly held 21.52% equities of Agricultural Products and indirectly held
action among the top ten 5.22% equities of Agricultural Products, and directly held 100% equities of
shareholders of circulation Shenzhen Investment Holdings; except that, it is unknown whether there
share exists associated relationship or belongs to accordant actionist regulated by
Administration of the Takeover of Listed Companies among the aforesaid
listed other shareholders or not.
Statement to agreed holding Name of shareholder Agreed holding period
period of strategic investors
or general legal person’s
participation in new shares Naught Naught
issue
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
3.3 Particulars about changes in controlling shareholder and actual controller of the
Company
□Applicable √Inapplicable
§4. Particulars about Directors, Supervisors, and Senior Executives
4.1 Particulars about changes in shares held by directors, supervisors and senior executives
□Applicable √Inapplicable
§5. Report of Board of Directors
5.1 Statement of main operations classified according to industries and products
Unit: RMB’0000
Main operations classified according to industries
Increase/dec Increase/dec Increase/decr
Classified
Income rease in rease in cost ease in gross
according to Cost of Gross
from income from of
industries or operations operations interest rate operations operations year-on-yearprofit ratio
products year-on-year year-on-year
Manufacture of 12,151.24 9,763.47 19.65% 59.99% 62.75% -1.36%
teas
Manufacture of 630.56 413.72 34.39% -22.22% -22.51% 0.24%
condiments
Manufacture of 1,180.82 1,022.53 13.41% -13.61% 5.51% -15.69%
soft drinks
Main operations classified according to products
Tea products 12,151.24 9,763.47 19.65% 59.99% 62.75% -1.36%
Mitsui brand 630.56 413.72 34.39% -22.22% -22.51% 0.24%
condiments
Soft packing drinks 1,180.82 1,022.53 13.41% -13.61% 5.51% -15.69%
5.2 Particulars about main operations classified according to areas
Unit: RMB’0000
Increase/decrease in income
Areas Income from operations from operations over last
year (%)
South China 3,703.98 18.93%
North China 1,566.79 209.61%
East China 5,219.91 31.13%
Export 43.30 -84.51%
Other areas 3,457.98 79.88%
Total 13,991.95 42.73%
5.3 Explanation on reasons of material changes in main operations and its structure
□Applicable √Inapplicable
5.4 Explanation on reasons of material changes in profitability (gross profit ratio) of main
operations compared with that of last year
□Applicable √Inapplicable
5.5 Analysis on reasons of material changes in profit structure compared with the previous
year
□Applicable √Inapplicable
5.6 Application of the raised proceeds
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
5.6.1 Comparison sheet of usage of raised funds
□Applicable √Inapplicable
5.6.2 Particulars about items invested in raised funds
□Applicable √Inapplicable
5.7 The modification plan of Board to the business plan for the second half year
□Applicable √Inapplicable
5.8 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 √Inapplicable
5.9 Explanation of the Management on “Qualified Opinion” from the Certified Public
Accountants in the report period by the Board of Directors
□Applicable √Inapplicable
5.10 Explanation of the Management on changes and disposal of the issues involved in
“Qualified Opinion” from the Certified Public Accountants in the last year by the Board of
Directors
□Applicable √Inapplicable
§6. Significant Events
6.1 Purchases and sales of assets and assets restructure
6.1.1 Assets purchased or acquired
□Applicable √Inapplicable
6.1.2 Assets sold
□Applicable √Inapplicable
6.1.3 Progress of the events and their influence on the Company’s operating results and
financial status in the report period after the Report on Assets Restructure or Public Notice
on Acquisition and Sales of Assets being published
□Applicable √Inapplicable
6.2 Guarantees
√Applicable □Inapplicable
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
Unit: RMB’0000
Particulars about the external guarantee of the Company (Barring the guarantee for the controlling
subsidiaries)
Relevant Date of Complet Guarantee
Name of the disclosure Amount happening Actual Guarante Guarante e for
Company date/No.
of the of (Date of amount of e type e term impleme associated
guaranteed guarantee guarantee signing guarantee ntation parties
d amount agreement) or not (Yes or no)
Total of external
guarantee approved in Total of external
0.00 guaranteeactualPeriod(A2)
in 0.00
Period(A1)
Total of external Total balance of actual
guarantee approved at 0.00 external guarantee at 0.00
Period-end(A3) Period-end(A4)
Guarantee of the Company for the controlling subsidiaries
Relevant Date of Complet Guarantee
Name of the disclosure Amount happening Actual Guarante Guarante e for
Company date/No.
of the of (Date of amount of e type e term impleme associated
guaranteed guarantee guarantee signing guarantee ntation parties
d amount agreement) or not (Yes or no)
Shenzhen
Shenbao Joint
Huacheng — 2,000.00 2010-10-21 2,000.00 responsib 1 year Not Yes
Food Co., ility
Ltd.
Shenzhen Not Yes
Shenbao Joint
Huacheng — 2,000.00 2011-01-26 1,532.37 responsib 1 year
Food Co., ility
Ltd.
Shenzhen Not Yes
Shenbao Joint
Huacheng — 3,000.00 2011-05-26 1,500.00 responsib 1 year
Food Co., ility
Ltd.
Total of guarantee for Total of actual guarantee
subsidiaries approved in 2,000.00 for subsidiaries in the 3,902.30
the Period (B1) Period (B2)
Total of guarantee for Total of actual guarantee
subsidiaries approved at 7,000.00 for subsidiaries at 5,032.37
Period-end (B3) Period-end (B4)
Total of Company’s guarantee（namely total of the large two aforementioned）
Total of guarantee in the Total of actual guarantee
Period (A1+B1) 2,000.00 in the Period 3,902.30
(A2+B2)
Total of guarantee at Total of actual guarantee
Period-end 7,000.00 at Period-end 5,032.37
(A3+B3) (A4+B4)
The proportion of the total amount of actually
guarantee in the net assets of the Company(that is 5.67%
A4+ B4)
Including:
Amount of guarantee for shareholders, actual 0.00
controller and its associated parties(C)
The debts guarantee amount provided for the
guaranteed parties whose assets-liability ratio exceed 0.00
70% directly or indirectly(D)
Proportion of total amount of guarantee in net assets 0.00
of the Company exceed 50%(E)
Total guarantee amount of the abovementioned 0.00
guarantees(C+D+E)
Explanations on possibly bearing joint and several ——
liquidating responsibilities for undue guarantees
6.3 Current non-operating related credits and liabilities
□Applicable √Inapplicable
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
6.4 Material lawsuits and arbitrations
√Applicable □Inapplicable
(I) The case concerning the joint-liability guarantee the Company provided for the RMB 7 million
loan that Shenzhen China Bicycle Company (Holdings) Limited (hereinafter referred to as Shen
China) had got from China Construction Bank Shenzhen Branch (hereinafter referred to as
Construction Bank) has been closed with a reconciliation. In the year 2003, the Company and
Construction Bank reached the Agreement on Interest Reduction and Cancellation, and according to
the agreement, the Company had already paid back the RMB 7 million in two times for Shen China
and fulfilled its guarantee liability (for details, please refer to Annual Report 2003 of the Company.);
through the verdict of (1999) YFJYZZi No. 26 Civil Judgment Document made by Guangdong High
People’s Court on the case concerning the joint-liability guarantee amounting to USD 0.8 million the
Company provided for issue of Letter of Credit Shen China had applied for at Bank of China
Shenzhen Branch, the Company should shoulder joint repayment liability. And ended the first half
year of 2004, the Company had repaid RMB 6,631,600 (amounting to USD 0.8 million) for Shen
China and fulfilled the guarantee responsibility (for details, please refer to Semi-Annual Report 2004
of the Company.). Latter, on Jul. 22, 2004, the guarantee payment, which the Company had paid on
its behalf, was enforced to conduct by Shenzhen Intermediate People’s Court that the Company
applied to.
To safeguard the rights and interests of the Company, the Company sued Shen China to Shenzhen
Intermediate People’s Court, and requested for a verdict to order Shen China to repay RMB 7
million, which the Company had paid on its behalf, as well as to compensate relevant loss arising
from the capital occupancy in 2004. Shenzhen Intermediate People’s Court judged and ordered Shen
China to repay the RMB 7 million the Company had paid on its behalf, and the interest arising during
the period of capital occupancy [(2004) SZFMECZi No.448]. Since Shen China had not fulfilled its
repayment duty according to the time and contents stipulated in the judgment document, the
Company applied to Shenzhen Intermediate People’s Court on Dec.20, 2004 for compulsory
enforcement. Shenzhen Intermediate People’s Court sent Shen China (2004) SZFZZi No.1382 Civil
Verdict and Mandamus, as well as (2005) SZFZZi No.208 Civil Verdict and Mandamus on Jan.14,
2005, and ruled that the property of Shen China (RMB 14,131,575.92 as the limit) should be sealed
up and frozen, and that Shen China should fulfill the duties stipulated in effective legal papers or
regulated by law within five days from the day the Mandamus arrived. Should Shen China defaulted
beyond the time limit, Shenzhen Intermediate People’s Court would make compulsory enforcement
according to law (for details, please refer to notifications of the Company published on Securities
Times, Hong Kong Ta Kung Pao and Juchao Website dated Jul.30, 2004, Nov.20, 2004, Dec.16,
2004, Dec.29, 2004 and Jan.18, 2005.). Later, stipulated by the Higher People’s Court of Guangdong,
the aforesaid two lawsuits were conducted by Guangzhou Railway Transportation Court, and the
conductions were suspended in the report period because of discovering no property clues. As soon
as circumstances of execution suspension ended, the Company may apply to Guangzhou Railway
Transportation Court for resumption of execution. The Company would exercise relevant rights
through legitimate means.
(II) Lawsuits between the Company and Guangdong Sunrise Holdings Co., Ltd.
Lawsuits arising from joint liabilities guarantee the Company offered for Guangdong Sunrise
Holdings Co., Ltd. (the former Shenzhen Lionda Holdings Co., Ltd. hereinafter referred to as Sunrise
Company for short) referred to historic remaining guarantees before 1999 the company and Shengrun
Company were both controlled subsidiaries of Shenzhen Investment Management Company. Details
are as follow:
1. “Guarantee Contract” was entered into by the Company and Futian Sub-branch of Shenzhen ICBC
on 30 December 1998 for jointly liability of HK$3 million loans to Shengrun Company from the
Company.
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Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
2. “Guarantee Contract for Loans” was entered into by the Company and Nantou Sub-branch of SDB
on 30 June 1999 for jointly liability of HK$6 million loans to Shengrun Company from the
Company.
3. “Borrowing Contract” was entered into by the Shengrun Company and Nantou Shenzhen branch
of BOC on 31 December 1998 for HK$32 million borrowings; the Company provided jointly
liability for the aforesaid loans.
4. “Guarantee Contract” was entered into by the Company and Nanyuan Sub-branch of GDB on 23
June 1999 for jointly liability of 8 million yuan loans to Shengrun Company from the Company.
The possible losses arising from the above joint liability guarantee had been totally accrued in 2007.
On Apr. 14 of 2010, Shenzhen Intermediate People’s Court (hereinafter referred to as Shenzhen
Zhongyuan) accepted application about restructure on Shengrun Company raised up by Shenzhen
Xingyaju Decoration Project Co., Ltd, and on May 5 of 2010 made the (2010) SZFMQCZZ No. 5-2
Civil Ruling which ruled that: since May 6 of 2010 the restructure on Shengrun Company could be
started. According to relevant requirements of application of creditors’ right, the Company applied
creditors’ right to managers of Shengrun Company as for accounts such as compensation principal
and relevant interest the above 4 guarantee cases concerned in Jun. of 2010.
In Sep. of 2010, the Company received the (2010) SZFMQCZZ No. 5-2 Civil Ruling made by
Shenzhen Zhongyuan which finally ruled that: confirmed the Creditors’ Right Sheet on Restructure
Plan of Guangdong Shengrun Group Holding Co., Ltd submitted by managers of Shengrun Company
on Aug. 13 of 2010 which confirmed 38 creditors with equivalent RMB 2,063,084,247.96. They were
all ordinary creditors’ right. The Creditors’ Right Sheet on Restructure Plan of Guangdong Shengrun
Group Holding Co., Ltd confirmed the creditors’ right on Shengrun Company was RMB
62,150,928.20. (Details could be seen from Securities Times, China Security Journal, Hong Kong
Commercial Daily and Juchao website dated on Sep. 9 of 2010).
In Oct. of 2010, creditors of Shengrun Company held meeting which passed the Draft of Restructure
Plan of Guangdong Shengrun Group Holding Co., Ltd. According to restructure plan of Shengrun
Company, it is predicted that monetary discharge proportion of ordinary creditors’ right was 2.16%
and shares discharge proportion was 27.89%, thus ordinary creditors could got 30.05% discharge
totally. Till issuing date of this report, the Company received discharge account RMB 1,381,832.66
and 2,135,071 A shares from *ST Shengrun. (Details could be seen from Securities Times, China
Security Journal, Hong Kong Commercial Daily and Juchao website dated on Apr. 9 of 2011).
6.5 Other significant events and analysis on their influences and solutions
□Applicable √Inapplicable
6.5.1 Particulars about securities investment
√Applicable □Inapplicable
Unit: RMB
Total
investme
Amount nt
Securities Stock
Initial
Short form investme held in Book value proportio Gains and
losses in
No. kinds code of the nt amount period-en at n of report
stock d
(RMB) (Share) period-end securities period
in
period-e
nd
1 Stock(3 board）400005 Haiguoshi 272,288.09 150,000 262,500.00 1.49% -42,000.00
2 Stock 000030 *ST 0.00 2,135,071 17,334,869.55 98.51% 0.00
Shengrun A
Other stock investment held at the end of _ _ _ _ _
report period
Gain/loss of the sold securities investment _ _ _ _ _
in the report period
Total 272,288.09 - 17,597,369.55 100% -42,000.00
11
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
6.5.2 Equity of other listed companies held
□Applicable √Inapplicable
6.5.3 Occupation and its progress of paying off on non-operational funds by largest
shareholder and its affiliated enterprises
□Applicable √Inapplicable
6.5.4 Implementation of commitments made by the Company, shareholders and actual
controller
The following events committed by related parties such as listed companies, directors, supervisors,
senior management, shareholders holding above 5% shares of the Company as well as actual
controllers in reporting period or extending to reporting period.
√Applicable □Inapplicable
Commitments Promisee Content of commitments Implem
entation
Commitments made by the original non-tradable
shareholders in the process of Share Merger Reform:
1. Shenzhen Agricultural Products Co., Ltd. and
Shenzhen Investment Holdings Co., Ltd. will obey
the laws, statutes and regulations, and perform the
statutory commitment obligations in the process of
Share Merger Reform; 2.Carrying out an effective
and long-term encouragement to the management
level, after the completion of share merger reform,
Shenzhen Agricultural Products Co., Ltd. and
Shenzhen Investment Holdings Co., Ltd., the original
non-tradable shareholders of the Company, will sell
their possessed shares in 3 year to the management
team of the Company according to their share
holding proportion after the share merger reform,
which took up 6%-8% of the Company’s total capital
shares after the implementation of pricing.
The aforesaid encouragement specific measures and
SHENZHEN rules for implementation for the management level
AGRICULTU was studied and formulated by listed company
RAL according to The Measures Governing Equity Abided
Commitments for RODUCTS Incentive Plans of Listed Companies of CSRC and the
Share Merger CO., LTD. and national relevant regulations, and were reported to commit
Reform SHENZHEN the State-owned Assets Supervision and ments
INVESTMEN Administration Commission of Shenzhen
T HOLDING Municipality Government for examination and
CO., LTD. approval and then implementation. The circulation
condition of this part of shares will be implemented
following relevant provisions.
Both of Agriculture Products Co. and
Investment Holdings Co. have been fulfilling their
statutory responsibilities for their commitments.
According to Trial Provisions for Implementing
Stock Option Incentive in State-owned Controlling
Listed Companies (Domestic) issued jointly by
State-owned Assets Supervisory & Administration
Committee and the Ministry of Finance dated
December 6, 2006, the Company should detail its
stock option incentive plan for management
executives according to relevant regulations. The
non-tradable share holders will push forward the
implementation of stock option incentive plan for
executives within the range allowed by relevant
national laws and regulations and in appropriate
market situation.
Commitments in
report of —— —— ——
acquisition or
equity change
12
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
Commitment for
substantive asset —— —— ——
restructuring
Issuance —— —— ——
commitment
Other
commitments(addi
tional —— —— ——
commitments
included)
6.5.5 Profit distribution of Board of Directors this time or preplan of capital reserve
capitalizing
□Applicable √Inapplicable
6.5.6 Detail items of other consolidated income
Unit: RMB
Items Amount occurred in the Amount occurred in same
report period period of last year
1. Gains/losses from financial assets _ _
available for sales
Less: Income tax influences from financial _ _
assets available for sales
Net amount reckoned into other _ _
consolidated income in previous period but
transferred into gains/losses in current
period
Subtotal _ _
2. Shares in the other consolidated income _ _
of the investee calculated based on equity
method
Less: Income tax influences of shares in the _ _
other consolidated income of the investee
calculated based on equity method
Net amount reckoned into other _ _
consolidated income in previous period but
transferred into gains/losses in current
period
Subtotal _ _
3. Gains/losses from cash flow hedge _ _
instrument
Less: Income tax influences from cash flow _ _
hedge
Net amount reckoned into other _ _
consolidated income in previous period but
transferred into gains/losses in current
period
Adjusted amount transferred to initial _ _
confirmed amount of the arbitraged items
Subtotal _ _
4. Differences from translating foreign _ _
currency financial statements
Less: Net amount of disposing overseas _ _
business transferred to current gains/losses
Subtotal _ _
5. Others _ _
Less: Income tax influences by others _ _
reckoned into other consolidated income
Net amount reckoned into other _ _
consolidated income in previous period but
transferred into gains/losses in current
period
Subtotal _ _
Total 0.00 0.00
13
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
6.6 Registration form for receiving research, communication and interview in the report
period.
Reception Content discussed and
Reception date Reception place Object received
way information provided
Discussed particulars of
production and operation,
strategy plan of the Company
Hangzhou Galaxy as well as prospect of
Conference Field
Investment investment by funds raised
2011-5-9 room of the investigatio
Management about specialized additional
Company n
Consulting Co., Ltd. issue plan; the Company
didn’t disclose, reveal and
leave out significant
information to receipt object.
Discussed particulars of
Soochow Fund
production and operation,
Management Co., Ltd.,
strategy plan of the Company
China International
as well as prospect of
Conference Field Fund Management Co.,
investment by funds raised
2011-5-23 room of the investigatio Ltd., Guotai Junan
about specialized additional
Company n Securities, Guotai
issue plan; the Company
Fund, Shanghai Zexi
didn’t disclose, reveal and
Investment
leave out significant
Management Co., Ltd.
information to receipt object.
Discussed particulars of
production and operation,
strategy plan of the Company
as well as prospect of
Conference Field Wuhan Technology
investment by funds raised
2011-6-2 room of the investigatio Innovation Investment
about specialized additional
Company n Co., Ltd
issue plan; the Company
didn’t disclose, reveal and
leave out significant
information to receipt object.
Discussed particulars of
production and operation,
strategy plan of the Company
as well as prospect of
Conference Field
China International investment by funds raised
2011-6-3 room of the investigatio
Financial Co., Ltd about specialized additional
Company n
issue plan; the Company
didn’t disclose, reveal and
leave out significant
information to receipt object.
§7. Financial Report
7.1 Auditing opinion
Financial Report √Un-audited □Audited
14
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
7.2 Financial statement
7.2.1 Balance Sheet
Prepared by Shenzhen Shenbao Industrial Co., Ltd. June 30, 2011 Unit: RMB
Amount at period-end Amount at year-begin
Items
Merger Parent Company Merger Parent Company
Current assets:
Monetary funds 587,792,262.16 564,324,133.25 60,540,179.32 43,617,846.34
Settlement provisions
Capital lent
Transaction finance
17,597,369.55 17,334,869.55 304,500.00
asset
Notes receivable
Accounts receivable 45,930,990.59 13,451.24 60,924,949.75 26,834.82
Accounts paid in
5,213,825.94 6,545,149.29
advance
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 19,140,659.59 264,954,419.54 56,556,386.04 293,645,635.65
Purchase restituted
finance asset
Inventories 56,557,726.07 951,531.42 53,165,409.41 824,287.66
Non-current asset due
within one year
Other current assets
Total current assets 732,232,833.90 847,578,405.00 238,036,573.81 338,114,604.47
Non-current assets:
Granted loans and
advances
Finance asset available
for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
63,911,629.91 287,856,754.07 65,976,879.14 224,821,521.50
investment
Investment property 25,086,337.67 25,501,779.89
Fixed assets 150,928,519.89 3,034,406.52 154,620,846.11 2,949,630.80
Construction in progress 11,167,666.37 5,723,542.10 7,513,353.21 4,657,647.12
Engineering material
Disposal of fixed asset
Productive biological
270,016.00 270,016.00 242,021.00 242,021.00
asset
Oil and gas asset
Intangible assets 202,399,937.74 67,525,146.73 187,367,943.21 68,437,527.61
Expense on Research
and Development
Goodwill
Long-term expenses to
2,029,681.04 924,520.57 2,115,990.14 1,063,758.19
be apportioned
Deferred income tax
2,595,233.33 1,235,914.32 2,595,233.33 1,235,914.32
asset
Other non-current asset
Total non-current asset 433,302,684.28 391,656,637.98 420,432,266.14 328,909,800.43
Total assets 1,165,535,518.18 1,239,235,042.98 658,468,839.95 667,024,404.90
Current liabilities:
15
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
Short-term loans 85,000,000.00 30,000,000.00 62,400,000.00 19,000,000.00
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial
liabilities
Notes payable
Accounts payable 21,188,555.41 326,088.46 38,992,403.72 172,066.01
Accounts received in
1,531,203.73 2,150,632.12
advance
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 1,723,341.49 496,007.96 3,298,879.27 2,280,240.37
Taxes payable 2,015,764.66 72,912.61 4,651,110.52 79,815.08
Interest payable
Dividend payable 2,909,182.74 2,909,182.74 2,909,182.74 2,909,182.74
Other accounts payable 78,331,778.72 116,490,739.07 77,081,960.91 120,151,055.55
Reinsurance payables
Insurance contract
reserve
Security trading of
agency
Security sales of agency
Non-current liabilities
57,500,000.00 57,500,000.00 66,500,000.00 66,500,000.00
due within 1 year
Other current liabilities 1,993,137.43 493,137.43
Total current liabilities 252,192,964.18 207,794,930.84 258,477,306.71 211,092,359.75
Non-current liabilities:
Long-term loans 26,000,000.00 26,000,000.00 27,000,000.00 27,000,000.00
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities
Deferred income tax
liabilities
Other non-current
49,920.00 49,920.00 49,920.00 49,920.00
liabilities
Total non-current liabilities 26,049,920.00 26,049,920.00 27,049,920.00 27,049,920.00
Total liabilities 278,242,884.18 233,844,850.84 285,527,226.71 238,142,279.75
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or share
250,900,154.00 250,900,154.00 181,923,088.00 181,923,088.00
capital)
Capital public reserve 568,700,222.51 583,510,721.44 79,873,070.29 80,095,645.55
Less: Inventory shares
Reasonable reserve
Surplus public reserve 32,464,033.34 32,464,033.34 32,464,033.34 32,464,033.34
Provision of general risk
Retained profit 35,228,224.15 138,515,283.36 30,831,869.17 134,399,358.26
Balance difference of
foreign currency translation
Total owner’s equity
attributable to parent 887,292,634.00 1,005,390,192.14 325,092,060.80 428,882,125.15
company
Minority interests 47,849,552.44
Total owner’s equity 887,292,634.00 1,005,390,192.14 372,941,613.24 428,882,125.15
Total liabilities and owner’s
1,165,535,518.18 1,239,235,042.98 658,468,839.95 667,024,404.90
equity
16
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
7.2.2 Profit Statement
Prepared by Shenzhen Shenbao Industrial Co., Ltd. January-June, 2011 Unit: RMB
Amount in this period Amount in last period
Items Merger Parent Merger Parent
Company Company
I. Total operating income 139,922,991.06 1,434,424.23 98,031,142.11 1,347,753.85
Including: Operating income 139,922,991.06 1,434,424.23 98,031,142.11 1,347,753.85
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 148,255,335.86 14,106,456.23 106,079,351.47 10,062,371.67
Including: Operating cost 112,209,097.15 91,320.28 75,106,437.05 79,866.50
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 896,845.51 66,000.00 431,774.87 62,610.08
Sales expenses 8,969,300.98 515,239.93 6,310,429.41 180,580.50
Administration 21,699,521.40 11,040,603.19 19,691,446.28 6,860,925.37
expenses
Financial expenses 4,550,650.77 2,392,752.83 4,543,914.84 2,878,389.22
Losses of devaluation of -70,079.950 540.00 -4,650.98
asset
Add: Changing income
of fair value(Loss is listed -42,000.000 139,500.00
with “-”)
Investment income -265,249.230 -265,249.230 -12,052,068.30 -14,014,997.93
(Loss is listed with “-”)
Including: Investment
income on affiliated -265,249.230 -265,249.230 -12,550,001.25 -12,550,001.25
company and joint venture
Exchange income (Loss
is listed with “-”)
III. Operating profit (Loss -8,639,594.03 -12,937,281.230 -19,960,777.66 -22,729,615.75
is listed with “-”)
Add: Non-operating 17,433,557.36 17,088,533.21 2,814,041.99 1,216,901.37
income
Less: Non-operating 60,551.66 35,326.88 21,565.07
expense
Including: Disposal loss 60,551.66 35,326.88 15,050.02
of non-current asset
IV. Total Profit (Loss is 8,733,411.67 4,115,925.10 -17,168,300.74 -21,512,714.38
listed with “-”)
Less: Income tax 1,674,051.00 53,230.14
expense
V. Net profit (Net loss is 7,059,360.67 4,115,925.10 -17,221,530.88 -21,512,714.38
listed with “-”)
Net profit attributable to 4,396,354.98 4,115,925.10 -18,263,527.21 -21,512,714.38
owner’s of parent company
Minority shareholders’ 2,663,005.69 1,041,996.33
gains and losses
VI. Earnings per share
i. Basic earnings per share 0.0242 -0.1004
ii. Diluted earnings per share 0.0242 -0.1004
VII. Other consolidated
income
VIII. Total consolidated 7,059,360.67 4,115,925.10 -17,221,530.880 -21,512,714.38
income
Total consolidated income
attributable to owners of 4,396,354.98 4,115,925.10 -18,263,527.210 -21,512,714.38
parent company
Total consolidated income
attributable to minority 2,663,005.69 1,041,996.33 0.00
shareholders
17
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
7.2.3 Cash Flow Statement
Prepared by Shenzhen Shenbao Industrial Co., Ltd. January-June, 2011 Unit: RMB
Items Amount in this period Amount in last period
Merger Parent Company Merger Parent Company
I. Cash flows arising from
operating activities:
Cash received from
selling commodities and 177,726,719.69 1,413,364.27 114,460,696.41 161,000.50
providing labor services
Net increase of
customer deposit and
interbank deposit
Net increase of loan
from central bank
Net increase of capital
borrowed from other
financial institution
Cash received from
original insurance contract
fee
Net cash received from
reinsurance business
Net increase of insured
savings and investment
Net increase of disposal
of transaction financial asset
Cash received from
interest, commission charge
and commission
Net increase of capital
borrowed
Net increase of returned
business capital
Write-back of tax 49,009.53 188,371.62
received
Other cash received
concerning operating 6,445,884.77 4,239,039.14 9,876,986.68 26,947,390.32
activities
Subtotal of cash inflow
arising from operating 184,221,613.99 5,652,403.41 124,526,054.71 27,108,390.82
activities
Cash paid for
purchasing commodities and 139,613,835.64 271,848.55 83,962,650.35 156,022.10
receiving labor service
Net increase of
customer loans and advances
Net increase of deposits
in central bank and interbank
Cash paid for original
insurance contract
compensation
Cash paid for interest,
commission charge and
commission
Cash paid for bonus of
guarantee slip
Cash paid to/for staff 17,020,987.85 5,784,877.12 18,724,555.47 9,074,261.51
and workers
Taxes paid 12,934,545.26 919,246.61 6,157,716.15 477,632.30
Other cash paid
concerning operating 22,924,655.87 20,208,017.33 21,813,251.09 44,966,320.96
activities
Subtotal of cash outflow
arising from operating 192,494,024.62 27,183,989.61 130,658,173.06 54,674,236.87
activities
Net cash flows arising -8,272,410.63 -21,531,586.20 -6,132,118.35 -27,565,846.05
from operating activities
II. Cash flows arising from
investing activities:
Cash received from 24,800,000.00 24,800,000.00
recovering investment
Cash received from
investment income
18
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
Net cash received from
disposal of fixed, intangible 13,051,728.00 13,000,000.00 2,718,835.00 1,680,835.00
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 37,851,728.00 37,800,000.00 2,718,835.00 1,680,835.00
from investing activities
Cash paid for
purchasing fixed, intangible 17,789,197.69 1,143,684.68 75,269,397.26 55,930,652.51
and other long-term assets
Cash paid for 1,200,000.00
investment
Net increase of -20,000,000.00 -20,000,000.00
mortgaged loans
Net cash received from
subsidiaries and other units
Other cash paid
concerning investing
activities
Subtotal of cash outflow -2,210,802.31 -18,856,315.32 76,469,397.26 55,930,652.51
from investing activities
Net cash flows arising 40,062,530.31 56,656,315.32 -73,750,562.26 -54,249,817.51
from investing activities
III. Cash flows arising from
financing activities
Cash received from 512,499,992.40 512,499,992.40
absorbing investment
Including: Cash
received from absorbing
minority shareholders’
investment by subsidiaries
Cash received from loans 65,000,000.00 30,000,000.00 134,000,000.00 92,000,000.00
Cash received from
issuing bonds
Other cash received
concerning financing 55,756,182.00 55,756,182.00
activities
Subtotal of cash inflow 577,499,992.40 542,499,992.40 189,756,182.00 147,756,182.00
from financing activities
Cash paid for settling 52,400,000.00 29,000,000.00 137,500,000.00 100,500,000.00
debts
Cash paid for dividend
and profit distributing or 5,530,183.59 3,818,933.23 5,650,201.01 4,718,700.90
interest paying
Including: Dividend and
profit of minority
shareholder paid by
subsidiaries
Other cash paid
concerning financing 4,099,501.38 4,099,501.38
activities
Subtotal of cash outflow 62,029,684.97 36,918,434.61 143,150,201.01 105,218,700.90
from financing activities
Net cash flows arising from 515,470,307.43 505,581,557.79 46,605,980.99 42,537,481.10
financing activities
IV. Influence on cash and
cash equivalents due to -8,344.27
fluctuation in exchange rate
V. Net increase of cash and 547,252,082.84 540,706,286.91 -33,276,699.62 -39,278,182.46
cash equivalents
Add: Balance of cash
and cash equivalents at the 40,540,179.32 23,617,846.34 90,613,421.70 76,004,694.03
period -begin
VI. Balance of cash and cash 587,792,262.16 564,324,133.25 57,336,722.08 36,726,511.57
equivalents at the period -end
19
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
7.2.4 Consolidated Statement on Changes of Owners’ Equity
Prepared by Shenzhen Shenbao Industrial Co., Ltd. Semi-Annual of 2011 Unit: RMB
Amount in this report period Amount in last year
Owners' equity attributable to the parent company Owners' equity attributable to the parent company
Reas Gener
Paid-up Less: Paid-up Total
Items onabl al Minority’s Total owners’ Less: Reason General Minority’s
capital Capital Treas Surplus Retained capital Capital Surplus Retained owners’
e risk Others equity equity Treasury able risk Others equity
(Share reserves ury reserves profit (Share reserves reserves profit equity
reser provi Stock reserve provision
capital) Stock capital)
ve sion
I. Balance at
the end of last 181,923,088.00 79,873,070.29 32,464,033.34 30,831,869.17 47,849,552.44 372,941,613.24 181,923,088.00 80,564,909.22 32,464,033.34 25,144,224.38 45,244,179.29 365,340,434.23
year
Add: Changes
of accounting
policy
Error
correction of
the last period
Others
II. Balance at
the beginning 181,923,088.00 79,873,070.29 32,464,033.34 30,831,869.17 47,849,552.44 372,941,613.24 181,923,088.00 80,564,909.22 32,464,033.34 25,144,224.38 45,244,179.29 365,340,434.23
of this year
III. Increase/
Decrease in
this year
68,977,066.00 488,827,152.22 4,396,354.98 -47,849,552.44 514,351,020.76 -691,838.93 5,687,644.79 2,605,373.15 7,601,179.01
(Decrease is
listed
with'"-")
(I) Net profit 4,396,354.98 2,663,005.69 7,059,360.67 5,687,644.79 3,297,744.70 8,985,389.49
(II) Other
consolidated -210,249.15 -210,249.15
income
Subtotal of
4,396,354.98 2,663,005.69 7,059,360.67 -210,249.15 5,687,644.79 3,297,744.70 8,775,140.34
(I)and (II)
(III) Owners'
devoted and
68,977,066.00 488,827,152.22 (50,512,558.13) 507,291,660.09 -481,589.78 -692,371.55 -1,173,961.33
decreased
capital
1. Owners'
devoted 68,977,066.00 503,415,075.89 572,392,141.89
capital
2. Amount
calculated
into owners' -
equity paid in
shares
3. Others -14,587,923.67 (50,512,558.13) (65,100,481.80) -481,589.78 -692,371.55 -1,173,961.33
20
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
(IV) Profit
distribution
1. Withdrawal
of surplus
reserves
2. Withdrawal
of general
risk
provisions
3.
Distribution
for owners
(shareholders)
4. Others
(V) Carrying
forward
internal
owners'
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus
reserve
4. Others
(VI)
Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in
the report
period
(VII) Other
IV. Balance at
the end of this 250,900,154.00 568,700,222.51 32,464,033.34 35,228,224.15 887,292,634.00 181,923,088.00 79,873,070.29 32,464,033.34 30,831,869.17 47,849,552.44 372,941,613.24
term
21
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
7.2.5 Statement on Changes of Owners' Equity of Parent Company
Prepared by Shenzhen Shenbao Industrial Co., Ltd. Semi-Annual of 2011 Unit: RMB
Amount in this report period Amount in last year
Less: Provision Less: Provision
Items Paid-up capital Capital of Total owners’ of Total owners’
(Share capital) reserves Treasury Reasonable
reserve
Surplus
reserves general Retained profit equity
Paid-up capital
(Share capital)
Capital
reserves Treasury Reasonable
reserve
Surplus
reserves general Retained profit equity
Stock risk Stock risk
I. Balance at
the end of 181,923,088.00 80,095,645.55 32,464,033.34 134,399,358.26 428,882,125.15 181,923,088.00 80,305,894.70 32,464,033.34 137,778,205.32 432,471,221.36
last year
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Others
II. Balance
at the
beginning of 181,923,088.00 80,095,645.55 32,464,033.34 134,399,358.26 428,882,125.15 181,923,088.00 80,305,894.70 32,464,033.34 137,778,205.32 432,471,221.36
this year
III. Increase/
Decrease in
this year
(Decrease is 68,977,066.00 503,415,075.89 4,115,925.10 576,508,066.99 -210,249.15 -3,378,847.06 -3,589,096.21
listed
with'"-")
(I) Net profit 4,115,925.10 4,115,925.10 -3,378,847.06 -3,378,847.06
(II)Other
consolidated -210,249.15 -210,249.15
income
Subtotal of 4,115,925.10 4,115,925.10 -210,249.15 -3,378,847.06 -3,589,096.21
(I)and (II)
(III)
Owners'
devoted and 68,977,066.00 503,415,075.89 572,392,141.89
decreased
capital
1. Owners'
devoted 68,977,066.00 503,415,075.89 572,392,141.89
capital
2. Amount
calculated
into owners'
equity paid
in shares
3. Others
(IV) Profit
distribution
22
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
1. Providing
of surplus
reserves
2. Providing
of common
risk
provisions
3. Dividend
to
shareholders
4. Others
(V)
Carrying
forward
internal
owners'
equity
1. Capital
reserves
conversed to
capital
(share
capital)
2. Surplus
reserves
conversed to
capital
(share
capital)
3.
Remedying
loss with
surplus
reserves
4. Others
(VI)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(VII) Other
IV. Balance
at the end of 250,900,154.00 583,510,721.44 32,464,033.34 138,515,283.36 1,005,390,192.14 181,923,088.00 80,095,645.55 32,464,033.34 134,399,358.26 428,882,125.15
this term
23
Shenzhen Shenbao Industrial Co., Ltd. Summary of Semi-Annual Report 2011
7.3 Notes to financial statement
7.3.1 If there have been any changes to the accounting policy and accounting estimates, or
modification of accounting errors, give the relevant contents, reasons and the influenced numbers.
□Applicable √Inapplicable
7.3.2 If there have been any material changes to the consolidation scope of the financial statement,
give the reasons and the influenced numbers.
□Applicable √Inapplicable
7.3.3 If Non-standard Unqualified Opinion is supplied, list the related notes to the matters involved.
□Applicable √Inapplicable
Chairman of the Board: Zheng Yuxi
Shenzhen Shenbao Industrial Co., Ltd.
August 19, 2011
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