深圳市深粮控股股份有限公司 2021 年半年度报告全文
SHENZHEN CEREALS HOLDINGS CO., LTD.
SEMI-ANNUAL REPORT 2021
August 2021
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section I. Important Notice, Contents and Interpretation
Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of SHENZHEN CEREALS HOLDINGS CO.,LTD. (hereinafter
referred to as the Company) hereby confirm that there are no any fictitious
statements, misleading statements, or important omissions carried in this report,
and shall take all responsibilities, individual and/or joint, for the reality,
accuracy and completion of the whole contents.
Person in charge of the Company Zhu Junming, Head of Accounting Lu Yuhe
and Head of Accounting Institution (Accounting Supervisors) Wen Jieyu hereby
confirm that the Financial Report of Semi-Annual Report 2021 is authentic,
accurate and complete.
In addition tot he following directors, other directors attended the Board
Meeting for the deliberation of the semi-annual report.
Reason for not
Name of the director Title of the director not
attending the meeting in Entrusted person
not present in person present in person
person
Zhu Junming Chairman Vacation Lu Qiguang
Hu Xianghai director Vacation Lu Qiguang
Concerning the forward-looking statements with future planning involved in the
semi-annual report, they do not constitute a substantial commitment for
investors, Securities Times, China Securities Journal, Hong Kong Commercial
Daily and Juchao Website (www.cninfo.com.cn) are the media appointed by the
Company for information disclosure, all information of the Company disclosed
in the above mentioned media should prevail. Investors are advised to exercise
caution of investment risks.
The Company has analyzed the risk factors that the Company may exist and its
countermeasures in the report, investors are advised to pay attention to read
“Risks and Countermeasures”in the report of Section III-Management
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Discussion and Analysis. This report has been prepared in Chinese and English
version respectively. In the event of difference in interpretation between the two
versions, Chinese report shall prevail.
The Company plans not to distributed cash dividend, bonus and no capitalizing
of common reserves either.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Contents
Section I Important Notice, Contents and Interpretation .............................................................. 2
Section II Company Profile and Main Financial Indexes ............................................................ 7
Section IIIManagement Discussion and Analysis ......................................................................... 11
Section IV Corporate Governance. ................................................................................................ 29
Section V Enviornmental and Social Responsibility ..................................................................... 31
Section VI Important Events……………………………………………………...........................33
Section VII Changes in shares and particular about shareholders………………………….....41
Section VIII Preferred Stock ......................................................................................................... 46
Section IX Corporate Bonds ........................................................................................................... 47
Section X Financial Report ............................................................................................................. 48
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Documents Available for Reference
1. Text of financial statement with signature and seals of legal person, person in charge of accounting works and
person in charge of accounting institution;
2. Original and official copies of all documents which have been disclosed on Securities Times, China Securities
Journal, Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) in the report period;
3. Original copies of 2021 Semi-Annual Report with signature of the Chairman.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Interpretation
Items Refers to Contents
SZCH/Listed Company /the Company/ Refers to Shenzhen Cereals Holdings Co., Ltd.
SZCG Refers to Shenzhen Cereals Group Co., Ltd
Hualian Company Refers to Shenzhen Hualian Grain and Oil Trading Co., Ltd.
Shenliang Doximi Refers to Shenliang Doximi Business Co., Ltd.
Flour Company Refers to Shenzhen Flour Co., Ltd
Shenliang Quality Inspection Refers to Shenliang Quality Inspection Co., Ltd.
Dongguan Logistics Refers to Dongguan Shenliang Logistics Co., Ltd.
Dongguan Food Industrial Park Refers to Dongguan International Food Industrial Park Development Co., Ltd.
Shenliang Cold Chain Refers to Shenzhen Shenliang Cold Chain Logistics Co., Ltd.
Shenliang Property Refers to Shenzhen Shenliang Property Development Co., Ltd.
Shenliang Big Refers to Shenzhen Shenliang Big Kitchen Food Supply Chain Co., Ltd
Shenbao Huacheng Refers to Shenzhen Shenbao Huacheng Technology Co., Ltd.
Shenbao Investment Refers to Shenzhen Shenshenbao Investment Co., Ltd.
Food Materials Group Refers to Shenzhen Food Materials Group Co., Ltd
Agricultural Products Refers to Shenzhen Agricultural Products Group Co., Ltd
Shenzhen Municipal People’s Government State-owned Assets
Shenzhen SASAC Refers to
Supervision & Administration Commission
CSRC Refers to China Securities Regulation Commission
SSE Refers to Shenzhen Stock Exchange
Article of Association Refers to Article of Association of Shenzhen Cereals Holdings Co., Ltd.
RMB/10 thousand Yuan Refers to CNY/ten thousand Yuan
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section II Company Profile and Main Financial Indexes
I. Company profile
Short form for share SZCH, Shenliang B Stock code 000019, 200019
Listing stock exchange Shenzhen Stock Exchange
Chinese name of the
深圳市深粮控股股份有限公司
Company
Abbr. of Chinese name of
深粮控股
the Company (if applicable)
English name of the
SHENZHEN CEREALS HOLDINGS CO.,LTD
Company(if applicable)
Legal Representative Zhu Junming
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Chen Xiaohua Chen Kaiyue, Liu Muya
13/F, Tower A, World Trade Plaza, No.9 Fuhong 13/F, Tower A, World Trade Plaza, No.9 Fuhong Rd.,
Contact add.
Rd., Futian District, Shenzhen Futian District, Shenzhen
Tel. 0755-83778690 0755-83778690
Fax. 0755-83778311 0755-83778311
E-mail chenxh@slkg1949.com chenky@slkg1949.com、liumy@slkg1949.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
The registrations address, offices address and codes as well as website and email of the Company have no changes in the Period,
found more in Annual Report 2020.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
□ 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 2020.
IV. Main accounting data and financial indexes
Whether information disclosure and preparation place changed in reporting period or not
□Yes √No
Changes over last year
Current Period Same period of last year
(+,-)
Operating revenue (RMB) 5,262,189,180.53 4,740,428,222.10 11.01%
Net profit attributable to shareholders of
243,846,874.76 210,738,686.12 15.71%
the listed Company (RMB)
Net profit attributable to shareholders of
the listed Company after deducting 237,039,666.31 196,760,081.80 20.47%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
-691,272,151.33 9,610,361.15 -7,292.99%
activities (RMB)
Basic earnings per share (RMB/Share) 0.2116 0.1828 15.75%
Diluted earnings per share (RMB/Share) 0.2116 0.1828 15.75%
Weighted average ROE 5.17% 4.66% 0.51%
Changes over end of last
End of current Period End of last year
year (+,-)
Total assets (RMB) 8,429,737,224.82 7,309,384,147.93 15.33%
Net assets attributable to shareholder of
4,448,099,108.10 4,595,331,999.76 -3.20%
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
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of
Company listed Company
Current period Last period Period-end Period-begin
Chinese GAAP 243,846,874.76 210,738,686.12 4,448,099,108.10 4,595,331,999.76
Items and amount adjusted by IAS
Adjustment for other
1,067,000.00 1,067,000.00
payable fund of stock
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
market regulation
IAS 243,846,874.76 210,738,686.12 4,449,166,108.10 4,596,398,999.76
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company has no above mentioned condition occurred in the period
3. Explanation on differences of the data under accounting standards in and out of China
□ Applicable √ Not applicable
VI. Items and amounts of extraordinary profit (gains)/loss
√ Applicable □ Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the write-off that
4,753.12
accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards, which are closely relevant 4,811,695.56
to enterprise’s business)
Profit and loss of assets delegation on others’ investment or management 3,061,191.63
Gains and losses from change of fair values of held-for-transaction financial assets,
derivative financial assets, held-for-transaction financial liability and derivative
financial liability except for the effective hedge business related to normal business of
288,972.32
the Company, and investment income from disposal of tradable financial assets,
derivative financial assets, tradable financial liability, derivative financial liability and
other debt investment.
Other gains/losses items that conform to the definition of non-recurring gains/losses 1,529,279.86
Less: impact on income tax 2,005,561.30
Impact on minority shareholders’ equity (post-tax) 883,122.74
Total 6,807,208.45 --
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
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
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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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section III Management Discussion and Analysis
I. Main businesses of the Company in the reporting period
Main business of the Company includes the wholesale and retail business, food processing and manufacturing
business, leasing and commerce service business.
The wholesale and retail business are mainly rice, wheat, rice in the husk, corn, sorghum, cooking oil and other
varieties of grain and oil as well as the sales of fine tea, beverage and condiment. During the reporting period, the
company overcame many adverse factors such as shortage of grain source and fluctuation of grain price under the
influence of the pandemic, took multiple measures to ensure supply and stable supply, and continued to expand
the market, strengthen the brand and optimize the products. Mainly supplied wheat, rice, corn, barley, sorghum
and other raw grain to customers such as the industry's large traders, feed processing and flour processing
enterprises and so on; mainly sold rice, flour, cooking oil, high-quality tea, beverages and other products to
demand units and community residents.
Food processing and manufacturing business are mainly the processing the technology research in aspect of flour,
rice, cooking oil, tea and natural plant extracts, beverage and condiments etc. The company's flour brands and
products include “Jinchangman”, “Yingshanhong” and “Hongli” series bread flour; “Clivia” and “Canna” series
tailored flour for cakes and steamed bun; “Sunflower” wheat flour for noodles and cookie flour; “Tianlvxiang”
wheat flour for bread, refined flour and dumpling flour etc.; Rice products include “Shenliang Doximi”,
“Guzhixiang”, “Gufengxianman”, “Runxiangliangpin”, “Hexiang” and “Taitai Fukou” etc. Cooking oil products
include brands such as “Shenliang Fuxi”, “Shenliang Jinxi” and “Youtian” etc. Tea brands mainly include
"Jufangyong" tea; "Yichong" fresh extract, "Jindiao" instant tea powder and other tea deep-processed products, as
well as "Shenbao" chrysanthemum tea, lemon tea, and "Cha Mi Xiang Qi" and other series of tea drinks.
Condiments are mainly "Sanjing" oyster sauce and sauces. Several brands have formed product series, including
"SZCH Yushuiqing" rice, noodles, oil, and coarse cereals series, "Jiaxi" rice & noodles series, "Jinchangman"
noodles & oil series, Black-faced Spoonbill tea, rice, oil, drinking water, non-staple food and condiment series,
etc., and the launch of Yueqiu tea wine continues to enrich the product structure. During the reporting period, the
company insisted on innovation-oriented, continued to extend the industrial chain, actively carried out new
product research and development, and launched the SZCH sports drink brand "Shenbao Sports Muscle".
The leasing and business service refers to providing the professional import & export trade, warehousing &
storage, logistic & distribution, quality inspection & information technology services, property leasing and
management, business operation management services for all kinds of clients in the upstream and downstream of
the industrial chain, by using the advantage of brand reputation, operation service capacity and facility technology
that accumulated in field of grain and oil market. Its Dongguan smart gain logistics complex is a comprehensive
grain distribution service body integrating five major functions: grain & oil terminal, transit reserve, testing &
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
distribution, processing & production and market trading; The Shenliang Quality Inspection was awarded as
“Guangdong Shenzhen National Grain Quality Monitoring Station”. the subsidiary Shenliang Cold Chain provides
cold chain of food storage and distribution services to the customers, and Shenliang Property is a professional
assets management platform enterprise.
II. Core Competitiveness Analysis
The company enhances the endogenous power by deepening reform, strengthens the "extensive" development by
innovation cooperation, and continuously upgrades and transforms the governance pattern, development quality,
and guarantee ability, and has embarked on a path of sustainable and high-quality development through
self-innovation, and become a highly competitive, innovative and influential "ten billion" backbone grain
enterprise in the domestic grain industry.
(1)Operation mechanism
The core management team of the company has rich experience, and has a strong strategic vision and pragmatic
spirit. Combined with the actual development of the Company, formulated a set of effective mechanisms to
promote the quality and efficiency of business development. The company vigorously promotes the innovation and
transformation of business models, and actively promotes the transition from “trade-oriented enterprises” to
“service-oriented enterprises”, and from “operational management and control” to “strategic management and
control”. In business control, the company has built a "six-in-one" new control system with relative separation and
mutual checks and balances among "business operation and funds management, inventory management, quality
management, contract management, information system management". By strengthening the whole process risk
supervision, budget management, plan management, contract management, customer management and brand
management, it effectively reduced business risks while fully participating in market competition, and realized the
deep integration of "ensuring grain security" and "promoting development". Through innovative talent
development mechanism, the company has established an open talent team to meet the long-term development of
enterprises and reserve intelligence for the enterprise upgrading and development. The company has innovated
and implemented the EVA performance appraisal mechanism and established a result-oriented incentive and
restraint assessment mechanism which effectively built the performance culture and stimulated the viability within
the enterprise. The company insists on cultivating and advocating the corporate culture with “people-oriented,
performance first, excellent quality, and harmony” as the core values, combines the personal development goals of
employees with the corporate vision, and enhances the cohesiveness and centripetal force of the enterprise.
(2)Business model
The company deeply engages in segmenting the target market, provides diversified product supply services for
customers in different areas of the industry chain, establishes a multi-level product supply network covering
online and offline, and realizes the transformation of product supply to "remoteness, intelligentization, and
self-service". In terms of grain and oil trading services, the bulk commodity trading platform www.zglsjy.com.cn
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
created by its subsidiary Hualian Company efficiently integrates business flow, logistics, and information flow,
improves circulation efficiency, and provides spot listings, one-way bidding, basis price, financing, logistics,
quality inspection, information and other services for internal business units, suppliers and customers. In terms of
e-commerce, SZCH doximi actively promotes the development of new grain retail formats such as "Internet +
Grain" and "Community Automatic Grain Sales Stations", it has a B2C grain and oil online direct sales platform
"doximi.com", and has opened channels on e-commerce platforms such as Tmall and Jingdong Mall so as to
promote the deep integration of online and offline e-commerce platforms. In terms of group meal supply, its
subsidiary SZCH Beige has established a one-stop distribution service platform serving large end customers,
providing high-quality and safe smart group meal food services for group users such as enterprises, schools, and
government institutions. In terms of comprehensive tea drinking services, its subsidiary Shenbao Investment has
launched a micro-complex "Cha Mi Xiang Qi" with a combination of "light drinks", "light food" and "light retail"
functions.
(3) Information technology
The company attaches great importance to the transformation and upgrading of traditional industries with modern
technological means, and actively introduces new-generation information technologies such as the Internet of
Things, cloud computing, big data, and mobile Internet into grain management, forming an information system
that can cover the entire industrial chain of the grain industry, and promoting the "Internet + Grain" industry
development. The company’s informatization construction capability is at the leading level in the grain reserves
industry, taking the lead in building the warehouse management of "standardization, mechanization,
informatization, and harmlessness" in the industry, the self-developed "Grain Logistics Information System
(SZCG GLS)" has built a framework for the construction of grain informatization work, innovated the grain
management model, led the development direction of the grain industry, and became a benchmark for the national
grain industry. The project was awarded the “National IoT Major Application Demonstration Project” by the
National Development and Reform Commission and the Ministry of Finance. The company has undertaken a
number of national-level research projects, the results of a number of informatization projects have won national,
provincial and municipal awards, and more than 30 information systems have been developed and are operating
normally.
(4) R&D capabilities
The company has strong research and development capabilities in the field of food and beverage, gathers leading
technological advantages and equipment systems, has Jiangxi provincial enterprise technology center, Shenzhen
municipal research and development center (technology center) and Shenzhen plant deep processing technology
engineering laboratory. Its subsidiaries, Shenbao Huacheng and Wuyuan County Jufangyong Tea Co., Ltd., have
obtained national high-tech enterprise certification. Shenbao Huacheng has independently researched and
developed more than 50 patented technologies for tea powder, tea concentrated juice and plant extraction,
published more than 30 scientific papers, and won a number of awards such as Science and Technology Progress
Award of the Ministry of Agriculture, Zhejiang Science and Technology Award, Science and Technology Award of
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Chinese Academy of Agricultural Sciences, Jiangxi Science and Technology Progress Award, Science and
Technology Award of China National Light Industry Council, etc., presided over or participated in the preparation
of national standards "GBT 21733-2008 Tea Drinks" and two industry standards, i.e. "Tea Concentrated Juice for
Food Industry - Light Industry Standard QB-T 4068- 2010" and "Instant Tea Powder for Food Industry - Light
Industry Standard QB-T 4067-2010" .
(5) Quality control
The company implements grain and oil quality standards that are higher than national standards. The subordinate
SZCG Quality Inspection has the leading grain and oil quality inspection technology and equipment in the
domestic grain industry, and is included in the national grain quality supervision and inspection system. It was
awarded the "Guangdong Shenzhen National Grain Quality Monitoring Station" by the State Administration of
Grain and obtained the assessment certificate of agricultural product quality and safety inspection agency (CATL)
and the qualification certificate of inspection agency (CMA) etc, and total number of certified testing capability
items is 756. Shenliang Quality Inspection takes the lead in listing pesticide residues, heavy metal pollutants,
fungal toxins and other hygiene indicators as well as food taste indicators in the daily inspection indicators. It has
the ability to detect four types of indicators of generic quality, storage quality, food security & quality and other
four types of indicators of testing capacity, the detection capability can meet the relevant quality detection
requirements of grain and oil products, and can accurately analyze the nutritional composition and hygienic
indicators of the grain and determine its storage and edible quality. It has initiated the "digital laboratory" in the
grain industry, real-time monitoring of the entire process of cuttings, testing, distribution, etc., relying on
collaborative platforms to save, retrieve, integrate, analyze and share grain and oil testing data to achieve 100%
coverage of grain & oil product inspection, and 100% product quality qualification rate of the factory. Subsidiary
Shenbao Huacheng has established a quality control system recognized by large international food and beverage
companies, and has successfully passed the quality certification of global suppliers of Coca-Cola, Lipton, Kraft,
Suntory, and Nestlé
(6) Brand effect
The company was awarded the "Top 500 Service Enterprises in China", "China Top Ten Grain and Oil Groups",
"China Top 100 Grain and Oil Enterprises", "National Leading Enterprise Supporting Grain and Oil
Industrialization", “National Quality Benchmark”, “Top 10 Food Digital Technology Applications” and other
honors, and has been evaluated as "Shenzhen Top 100 Industry Leaders", "Shenzhen Time-honored Brand", and
"Shenzhen Well-known Brand", and it is a "rice bag" trusted by the public. The company owns many
well-known brands and platforms such as "Shenzhen Flour", "SZCH Doxi", "SZCH Yushuiqing", "Beige Kitchen",
"www.zglsjy.com.cn", "Shenbao Teabank", "Wuyuan Jufangyong" and other well-known brands and platforms,
and has gradually built up a complete industrial system with the elements of “rice” +”tea”. The Changxiangdao
Daohuaxiang Rice, held by the Shenliang Doximi, was selected as the first batch of "China Good Cereals and
Oils" by the State Administration of Grain. The company keeps abreast with the international first-class standards
and builds high-quality urban food brands, its 35 products have obtained the "Zhen Pin" certification, and the
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
company's corporate recognition, market reputation, and social recognition have continued to increase.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
III. Main business analysis
See the “I-Main businesses of the Company in the reporting period”
Y-o-y changes of main financial data
In RMB
Y-o-y
Same period of last
Current period increase/decre Reasons for changes
year
ase
Operation revenue 5,262,189,180.53 4,740,428,222.10 11.01%
Operation cost 4,650,397,070.67 4,219,403,828.80 10.21%
Sales expenses 106,711,776.77 109,796,698.11 -2.81%
Management expenses 109,316,093.65 101,838,460.53 7.34%
Mainly due to the increase in
borrowings and part of the
engineering projects have been
Financial expenses 17,204,774.52 6,155,212.61 179.52%
transferred to fixed assets in the
period, resulting in an increase in
expensed interest.
Lower income tax expense base due
Income tax expense 13,407,354.56 2,465,268.63 443.85% to the rent reduction in the prior
period for the epidemic
Investment for R&D increased in the
R&D investment 10,926,018.15 7,368,772.68 48.27%
Period
Net cash flow arising
Increase in food and oil purchases in
from operation -691,272,151.33 9,610,361.15 -7,292.99%
the period
activities
Net cash flow arising Purchase equity of the minority
from investment -267,111,859.35 -70,334,070.80 -279.78% shareholders of Dongguan Logistics
activities in the period
Net cash flow arising
The working capital loans increased
from financing 836,677,347.40 19,387,290.61 4,215.60%
in the period
activities
Mainly due to the y-o-y change
Net increase of cash
-121,720,142.83 -41,317,771.47 -194.60% impact of net cash flow arising from
and cash equivalent
operation activities
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
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Constitute of operation income
In RMB
Current period Same period last year
Increase/decrease
Ratio in operation Ratio in operation
Amount Amount y-o-y (+,-)
income income
Total operation
5,262,189,180.53 100% 4,740,428,222.10 100% 11.01%
revenue
According to industries
Wholesale and
4,400,038,220.56 83.62% 4,082,124,009.24 86.11% 7.79%
retail
Leasing and
commercial 476,311,036.38 9.05% 417,157,357.85 8.80% 14.18%
services
Manufacturing 385,839,923.59 7.33% 241,146,855.01 5.09% 60.00%
According to products
Grain and oil
trading and 4,675,804,942.84 88.86% 4,229,578,137.45 89.22% 10.55%
processing
Grain and oil
storage, logistics 422,355,721.28 8.03% 377,567,473.64 7.96% 11.86%
and services
Food & beverage
111,339,446.11 2.11% 93,692,726.80 1.98% 18.83%
and tea processing
Leasing and others 52,689,070.30 1.00% 39,589,884.21 0.84% 33.09%
According to region
Domestic market 5,245,073,883.18 99.67% 4,721,086,070.54 99.59% 11.10%
Exportation 17,115,297.35 0.33% 19,342,151.56 0.41% -11.51%
About the industries, products, or regions accounting for over 10% of the Company’s operating income or operating profit
√ Applicable □Not applicable
In RMB
Increase/decrea
Gross Increase/decrea Increase/decrea
se of gross
Operation revenue Operation cost profit se of operation se of operation
profit ratio
ratio revenue y-o-y cost y-o-y
y-o-y
According to industries
Wholesale and
4,400,038,220.56 4,133,013,050.29 6.07% 7.79% 6.30% 1.31%
retail
According to products
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Grain and oil
trading and 4,675,804,942.84 4,412,107,449.49 5.64% 10.55% 9.60% 0.82%
processing
According to region
Domestic market 5,245,073,883.18 4,637,681,823.32 11.58% 11.10% 10.33% 0.62%
Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted main business based on
latest one year’s scope of period-end
□ Applicable √Not applicable
Reasons for y-o-y relevant data with over 30% changes
□ Applicable √Not applicable
IV. Analysis of the non-main business
√ Applicable □ Not applicable
In RMB
Ratio in total Whether be
Amount Causes
profit sustainable
Investment
3,501,371.30 1.35% Unsustainable
income
Gains/losses of
fair value 288,972.32 0.11% Unsustainable
variation
Accrual of the reserve for falling prices
of goods in stock. When selling the
Asset impairment -111,448,173.12 -43.00% goods with falling prices accrual, the Unsustainable
actual carrying forward of the reserves
will be used to offset the current cost
Non-operating
1,627,702.56 0.63% Unsustainable
income
Non-operating
403,164.30 0.16% Unsustainable
expense
V. Assets and liability analysis
1. Major changes of assets composition
In RMB
End of current period End of last year Ratio Notes of major changes
18
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Ratio in Ratio in changes
Amount total Amount total
assets assets
The operating expenses
Monetary fund 68,774,083.11 0.82% 190,494,225.94 2.61% -1.79%
increased in the Period
The income from grain & oil
Account
712,441,439.01 8.45% 198,311,102.17 2.71% 5.74% reserve services have not yet
receivable
been returned in the period
Increase in food and oil
Inventory 4,130,250,968.86 49.00% 3,418,328,974.27 46.77% 2.23%
purchases in the period
Investment real
244,847,354.37 2.90% 253,037,899.57 3.46% -0.56%
estate
Long-term
equity 73,655,327.51 0.87% 73,215,147.84 1.00% -0.13%
investment
Part of the engineering projects
of Dongguan Logistics have
Fix assets 1,339,305,491.07 15.89% 1,122,692,490.55 15.36% 0.53%
been transferred to fixed assets
in the period
Part of the engineering projects
Construction in of Dongguan Logistics have
868,979,194.24 10.31% 1,045,643,295.57 14.31% -4.00%
process been transferred to fixed assets
in the period
The lease right-of-use assets
Right-of-use
89,811,269.93 1.07% 1.07% recognized under the new lease
assets
standards in the period
Short-term The working capital loans
1,212,686,540.73 14.39% 110,318,727.12 1.51% 12.88%
loans increased in the period
Contract
149,884,356.62 1.78% 108,975,866.82 1.49% 0.29%
liability
Long-term
805,594,327.98 9.56% 841,864,531.75 11.52% -1.96%
loans
The lease liability recognized
Lease liability 91,245,488.14 1.08% 1.08% under the new lease standards in
the period
2. Main overseas assets
□Applicable √Not applicable
19
深圳市深粮控股股份有限公司 2021 年半年度报告全文
3. Assets and liability measured by fair value
√ Applicable □ Not applicable
In RMB
Accumula Devalu Amou
Changes of tive ation of nt of
Other
fair value changes of withdra purcha Amount of sale in Ending
Items Opening amount chang
gains/losses in fair value wing in se in the period amount
es
this period reckoned the the
into equity period period
Financial
assets
1. Trading
financial
assets
(excluding 160,621,806.51 288,972.32 160,000,000.00 910,778.83
derivative
financial
assets)
Other
non-current
57,500.00 57,500.00
financial
assets
Aforementi
160,679,306.51 288,972.32 160,000,000.00 968,278.83
oned total
Financial
0.00 0.00
liabilities
Content of other changes
N/A
Whether there have major changes on measurement attributes for main assets of the Company in report period or not
□ Yes √No
4. The assets rights restricted till end of the period
Item Ending book value Reasons for restriction
According to the long-term loan mortgage contract signed by the Company, Shenzhen Branch
of Agricultural Development Bank and Huizhou Zhongkai Sub-branch of HSBC, the Company
Fixed assets 671,932,275.20 has mortgaged the real estate property rights of the structures of Yue (2020) Dongguan Property
Right No. 0127118, Yue (2020) Dongguan Property Right No. 0127119, Yue (2020) Dongguan
Property Right No. 0127120, and Yue (2020) Dongguan Property Right No.0119705 at No. 10,
20
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Jingang South Road, Machong Town, Dongguan City and other aground buildings to Shenzhen
Branch of Agricultural Development Bank and Huizhou Zhongkai Sub-branch of HSBC in
sequence as loan collateral.
According to the loan contract Yue DG2017 NGDZ No. 006 signed by International Food
Company, a subsidiary of the Company, and Bank of Communications Co., Ltd., Dongguan
Intangible
68,667,888.52 Branch, International Food Company has mortgaged its two pieces of land "DFGY (2009) DT
assets
No. 190" and "Yue(2020) Dongguan Real Estate Right No. 0321771" to the Bank of
Communications Co., Ltd., Dongguan Branch as loan collateral.
According to the long-term loan mortgage contract signed by the Company and Dongguan
Intangible Branch of CMB, Dongguan Logistics Company has mortgaged the real estate rights of the
35,398,230.05
assets structures of Yue (2016) Dongguan Property Right No. 0028527 at No. 10, Jingang South Road,
Machong Town, Dongguan City to Dongguan Branch of CMB as loan collateral.
Total 775,998,393.77
VI. Investment analysis
1. Overall situation
√ Applicable □ Not applicable
Investment in the same period of last
Investment in reporting period (RMB) Changes (+,-)
year (RMB)
423,203,922.73 107,920,927.79 292.14%
2.The major equity investment obtained in the reporting period
√ Applicable □ Not applicable
In RMB
W
het
her
Gain
it
Prog /loss
is
ress on Date
Inves inv
Inves Amo Shar Capit Inves as of Expe inve of
Main tmen Prod olv Disclosure
tee unt ehold al Partn tmen the cted stme discl
busin t uct ed index (if
comp inves ing sourc ers t bala earni nt in osur
ess meth type in any)
any ted ratio e term nce ngs curre e (if
od a
sheet nt any)
la
date perio
ws
d
uit
(Y/
N)
21
深圳市深粮控股股份有限公司 2021 年半年度报告全文
“Acquisitio
n of the
49% equity
of
Com Dongguan
Dong plete Shenliang
guan d the Logistics
Grain
Shenl busi Co., Ltd.”
stora Acqu 321,6 2
iang 100.0 Own ness (Notice
ge isitio 80,00 - - - 0.00 0.00 N June
Logis 0% funds chan No.:2021-1
logist n 0.00 2021
tics ge 7) released
ics
Co., regis on Juchao
Ltd. trati Website
on (www.cninf
o.com.cn)
dated 2
June 2021
321,6
Total -- -- 80,00 -- -- -- -- -- -- 0.00 0.00 -- -- --
0.00
3.The major non-equity investment carrying in the reporting period
√ Applicable □Not applicable
In RMB
Reaso
ns for
Accu Inco failur
mulate me e to
Whethe Indust
d accu achie
r it is ry Date
Amou actual mulat ve Discl
the with Capita Expe of
Invest nt input ed at plann osure
fixed the l Progr cted disclo
Item ment input as of end ed index
assets invest source ess earni sure
method in the the of the progr (if
invest ment s ngs (if
period end of report ess any)
ment involv any)
reporti ing and
(Y/N) ed
ng perio expec
period d ted
benef
its
Dongguan Self-bu Storag 13,582 419,51 Owne 100.0
Y -
Shenliang ild e and ,785.9 7,999. d 0%
22
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Logistics wharf 9 28 Funds
Co., Ltd.- and
Grain Bank
storage and Loans
wharf
complement
ary
engineering
Dongguan
Shenliang
Logistics
Owne
Co., Ltd.-
d
Grain Storag 172,81
Self-bu Funds 100.0
storage and Y e and 0,142. -
ild and 0%
wharf wharf 85
Bank
complement
Loans
ary
engineering
(Phase II)
Dongguan
International
Food Const
Owne
Industrial ructio
Wareh d
Park 957,51 52,79 23,92 n
Self-bu ouse 7,665, Funds 88.06
Developmen Y 1,995. 9,890 6,145 progr
ild logisti 976.79 and %
t Co., 31 .96 .22 am
c Bank
Ltd.-Wareho adjust
Loans
use logistic ment
distribution
center
Dongguan
Shenliang
Const
Logistics Owne
ructio
Co., Wareh d
93,052 n
Ltd.--Grain Self-bu ouse 1,739, Funds 17.17
Y ,038.7 progr
logistics and ild logisti 280.51 and %
9 am
wharf c Bank
adjust
complement Loans
ment
ary
engineering
Dongguan Wareh Owne New
Self-bu 5,345, 5,345, 42.76
Shenliang Y ouse d constr
ild 529.30 529.30 %
Logistics logisti Funds uctio
23
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Co., c and n
Ltd.-A1cotta Bank
ge Loans
warehouse
245,01 Owne
Land use Self-bu Constr
N 8,960. d -
right ild uction
82 Funds
28,333 1,893, 52,79 23,92
Total -- -- -- ,572.5 256,66 -- -- 9,890 6,145 -- -- --
9 6.35 .96 .22
4. Financial assets investment
(1) Securities investment
√ Applicable□Not applicable
Chan
ges in Profit
Book Cumu
Acco fair Curre and Book
Short value lative Curre
Variet Code Initial unting value nt loss value Acco Capita
form at the fair nt
y of of invest measu of the purch in the at the unting l
of begin value sales
securi securi ment remen curren ase Repor end of subjec Sourc
securit ning chang amou
ties ties cost t t amou ting the t e
ies of the es in nt
model profit nt Perio period
period equity
and d
loss
Dome
Fair Trada
stic Debt
value ble
and 00001 Zhong 621,8 288,9 288,9 910,7 resche
0.00 measu financ
overs 7 hua-A 06.51 72.32 72.32 78.83 duled
remen ial
eas shares
ts assets
stock
621,8 288,9 288,9 910,7
Total 0.00 -- 0.00 0.00 0.00 -- --
06.51 72.32 72.32 78.83
Disclosure date of
securities investment Not applicable
approval of the Board
Disclosure date of
securities investment
approval of the Not applicable
Shareholder Meeting (if
applicable)
24
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(2) Derivative investment
□ Applicable√Not applicable
The Company has no derivatives investment in the Period
VII. Sales of major assets and equity
1. Sales of major assets
□ Applicable √Not applicable
The Company had no sales of major assets in the reporting period.
2. Sales of major equity
□ Applicable √Not applicable
VIII. 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 Total Operating Operatin
Type Net assets Net profit
name business capital assets revenue g profit
Grain &
Shenzhen oil trading
Cereals processing, 1,530,000, 7,905,807, 4,005,341, 5,075,167, 227,542, 215,483,330.
Subsidiary
Group Co., Grain and 000.00 107.80 666.69 561.24 574.06 97
Ltd oil reserve
service
Shenzhen Grain &
30,000,000 1,008,586, 102,377,42 1,718,389, 38,937,9 38,938,653.0
Flour Co., Subsidiary oil trading
.00 902.83 5.79 940.19 75.88 6
Ltd processing
Shenzhen
Hualian
Grain & 100,000,00 2,035,583, 309,640,15 1,731,978, 51,276,7 51,134,582.8
Grain and Subsidiary
oil trading 0.00 513.97 9.40 543.62 18.59 8
Oil Trading
Co., Ltd.
Particular about subsidiaries obtained or disposed in report period
√ Applicable □Not applicable
The way of getting and treating Influence on overall product and
Company name
subsidiary in the reporting performance
Dongguan Shenliang Hualian Grain &
Establishment No operating business has occurred yet
oil trading Co., Ltd.
25
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Explanation on main holding/stock-jointly enterprise:
Shenzhen Cereals Group Co., Ltd: general business items: grain and oil purchase and sales, grain and oil storage
and supply of military grain; grain and oil and products management and processing (operated by branches);
operation and processing of feed (operated by outsourcing); investment in grain and oil, feed logistics projects;
establishing grain and oil and feed trading market (including e-commerce market) (market license is also
available); storage (operated by branches); development, operation and management of free property; providing
management services for hotels; investing and setting up industries (specific projects are separately declared);
domestic trade; engaging in import and export business; E-commerce and information construction; and grain
circulation service. Licensed business items: the following projects shall be operated only with the relevant
examination and approval documents if they are involved in obtaining approval: information services (internet
information service only); general freight, professional transport (refrigerated preservation). Register capital was
1,530,000,000.00 Yuan. Ended as this period, total assets amounted as 7,905,807,107.80 Yuan, and net assets
amounting to 4,005,341,666.69 Yuan, shareholders’ equity attributable to parent Company is 3,816,559,564.40
Yuan; in the reporting period, achieved operation revenue, net profit and net profit attributable to shareholder of
parent Company as 5,075,167,561.24 Yuan, 215,483,330.97Yuan and 213,542,280.46 Yuan respectively.
Shenzhen Flour Co., Ltd: business scope: hardware and electrical equipment, chemical products (excluding
hazardous chemicals and restricted items), auto parts, purchase and sales of construction materials; self-operated
import and export business (carry out according to the provisions of the registration certificate SMGDZZ No. 76);
domestic trade (excluding franchise, exclusive control, monopoly commodities); wheat wholesale and retail; flour
processing and production. Register capital was 30,000,000.00 Yuan. Ended as this period, total assets amounted
as 1,008,586,902.83 Yuan, and net assets amounting to 102,377,425.79 Yuan, shareholders’ equity attributable to
parent Company is 102,377,425.79 Yuan; in the reporting period, achieved operation revenue, net profit and net
profit attributable to parent Company as 1,718,389,940.19 Yuan, 38,938,653.06 Yuan and 38,938,653.06 Yuan
respectively.
Shenzhen Hualian Grain and Oil Trading Co., Ltd.: Business scope: general business items: domestic trade
(except for projects that laws, administrative regulations, and decisions of the State Council require approval
before registration); engaging in import and export business (except for projects prohibited by laws,
administrative regulations, and decision of the State Council, restricted projects can be operated only after
obtaining permission); online feed sales; information consultation, self-owned housing leasing (excluding talent
agency services and other restricted items); international freight forwarding, domestic freight forwarding (can
only be operated after being approved by the transport department if laws, administrative regulations, State
Council decision require the approval of transport department); Licensed business items: purchase and sale of
grain and oil, online sales of grain and oil; information service business (internet information service business
only). Register capital was 100,000,000.00 Yuan. Ended as this period, total assets amounted as 2,035,583,513.97
Yuan, and net assets amounting to 309,640,159.40 Yuan, shareholders’ equity attributable to parent Company is
26
深圳市深粮控股股份有限公司 2021 年半年度报告全文
286,114,190.37 Yuan;in the reporting period, achieved operation revenue, net profit and net profit attributable to
parent Company as 1,731,978,543.62 Yuan, 51,134,582.88 Yuan and 51,816,675.78 Yuan respectively.
IX. Structured vehicle controlled by the Company
□ Applicable√Not applicable
X. Risks and countermeasures
1. The risk of the impact of the COVID-19 epidemic
Since year of 2020, the global spread of the COVID-19 epidemic has affected macroeconomic operations to
varying degrees. Judging from the current situation, although the domestic epidemic has occurred sporadically, the
overall situation has been brought under control. The overseas epidemic still has the risk of instability, making the
economy unpredictable and uncertain, which may affect the company's production, trade, and industrial supply
chain. The epidemic has caused increases in various costs such as raw material costs, labor costs, and logistics
costs. In response to this risk, the company will unswervingly do a good job of epidemic prevention and strictly
implement various epidemic prevention measures to ensure the orderly production and operation of the company.
2. Food safety risk
On the one hand, our country is paying more and more attention to food safety and strengthening the supervision.
On the other hand, consumers’ awareness of food safety and rights protection is also increasing. Food safety has
become the industry’s number one risk, especially after the COVID-19 epidemic, consumers' attention to food
safety and cleanliness is rapidly increasing in the short term, and put forward higher requirements for food
hygiene and safety.
The company has always regarded food quality and safety as the most important core work. The first is to strictly
implement laws and regulations related to national food safety, and assume the social responsibility of supplying
high-quality and safe food to the market. The second is to strengthen the quality of raw materials and strengthen
quality control from the source. The third is to strengthen production management, standardize production
operations, and implement quality responsibilities. The fourth is to strengthen staff's operating skills and safety
awareness training to prevent product quality accidents caused by non-standard operations or weak food safety
awareness. The fifth is to continuously improve product quality assurance level through technological
transformation and technological progress. The sixth is to strengthen product transportation and storage
management to prevent secondary pollution of products.
3. Raw material fluctuation risk
On the one hand, with the implementation of the quantitative easing policy of the US dollar and major currencies
in the world, the speculative nature and hedging preferences of capital will cause social funds to flow into the bulk
commodity sector, which will lead to violent fluctuations in domestic and foreign bulk commodity prices. On the
other hand, with the outbreak of the COVID-19 epidemic, most countries' controls on the export of agricultural
27
深圳市深粮控股股份有限公司 2021 年半年度报告全文
products will have a major impact on prices; at the same time, the epidemic will also affect the normal operation
of the supply chain in various regions and have a direct impact on the supply of bulk agricultural and sideline
products.
The company will actively respond to the risk of adverse effects of price fluctuations on the company's operations
through measures such as strengthening market forecasts, establishing strategic cooperation, optimizing supply
management, and using refined management to improve utilization.
4. Risk of intensified market competition
As a representative enterprise of regional grain, oil and food business, compared with central enterprises and large
multinational grain, oil and food enterprises, the company still has a certain gap in scale and brand awareness. In
the future, the competition in the grain, oil and food industry will become more intense, if the company cannot
effectively promote its own brand and broaden its marketing channels, it may face greater risks when market
competition intensifies.
In response to possible market and business risks, on the one hand, the company makes overall plans for the year's
procurement, carefully optimizes procurement channels, and ensures sufficient grain supply and orderly supply.
On the other hand, the company continues to strengthen communication with upstream and downstream
customers in the industry chain, vigorously expands sales channels, focuses on customer needs, deepens brand and
service, and enhances the company's brand value and competitiveness.
5. M&A integration risks
The company carries out investment and M&A projects in accordance with its development strategy. Whether the
M&A project can form synergy with the original business and whether the integration of corporate culture and
management methods is in place during the critical period of integration of mergers and acquisitions are the key to
the realization of the company’s strategic goals. Inadequate management and control can easily lead to merger and
acquisition risks.
The company will take the following measures to prevent risks, the first is to pay attention to the operation of the
merged company and the integrating degree with the company's development strategy, and correct deviations in a
timely manner; the second is to pay attention to the synergy between the merged company and the company's
existing industry, and coordinate the deployment of resources in a timely manner; the third is to gradually realize
the integration of systems and cultures; the fourth is to increase performance improvement and innovation
incentives and assessments for mergers and acquisitions, and continuously adjust incentive policies that are
compatible with operations.
28
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section IV Corporate Governance
I. Annual General Meeting and extraordinary shareholders general meeting held in this
period
1. AGM in the period
Investor
Sessions Type Opening date Disclosure date Resolutions
participation (%)
Resolution Notice
of AGM 2020 of
Shenzhen Cereals
Holdings Co., Ltd.
2020 Annual (Notice No.:
AGM 72.05% 2021-05-18 2021-05-19
general meeting 2021-14) released
on Juchao website
(www.cninfo.com.
cn) dated 19 May
2021
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
II. Changes of directors, supervisors and senior executives
√ Applicable □ Not applicable
Name Position Type Date Causes
Jin Zhenyuan CFO Dismiss 2021-07-16 Job transfer
Jin Zhenyuan Director Outgoing 2021-07-16 Job transfer
Lu Yuhe CFO Appointment 2021-07-16 Appointment of the Board of Directors
Lu Yuhe Director Be elected 2021-08-02 Election of the Shareholder Meeting
III. Profit distribution plan and capitalizing of common reserves plan for the Period
□ Applicable √ Not applicable
The Company plans not to carried out distribution of cash dividend, bonus shares and share converted from capital reserve either for
the half year
29
深圳市深粮控股股份有限公司 2021 年半年度报告全文
IV. Implementation of the Company’s stock incentive plan, employee stock ownership plan or
other employee incentives
□ Applicable √ Not applicable
During the reporting period, the Company has no stock incentive plan, employee stock ownership plan or other employee incentives
that have not been implemented.
30
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section V Environmental and Social Responsibility
I. Major environmental protection
The listed Company and its subsidiary whether belong to the key sewage units released from environmental protection department
□Yes √No
Administrative penalties imposed for environmental issues during the reporting period
Impact on the production &
Company/Subsidiar Reasons for Violation Corrective
Penalty results operation of the listed
y penalty situation measures
company
Not
Not applicable Not applicable Not applicable Not applicable Not applicable
applicable
Other environmental information disclosed with reference to the key emission units
The company attached great importance to environmental protection work, and each subsidiary has built corresponding
environmental protection facilities according to the actual situation of production and operation to treat waste gas, dust, waste water
and solid waste generated in the production process, so as to make its emissions reach the national and local relevant standards. At
the same time, based on its own business characteristics, the company’s subsidiaries have formulated a series of rules and regulations
on environmental protection and strictly implemented them to institutionalize and standardize the environmental protection.
Reasons for not disclosing other environmental information
The Company and its subsidiaries do not belong to the key emission units announced by the environmental protection department,
and there is no other environmental information that needs to be disclosed.
II. Social responsibility
2021 is the first year of rural revitalization, and a key year for promoting a smooth transition of poverty alleviation
policies and measures and work systems to rural revitalization. In accordance with the document spirit of the
Implementation Opinions on Three-year Targeted Poverty Alleviation in the New Era (Yuefa [2016] No. 13)
issued by Guangdong Provincial Party Committee and Guangdong Provincial Government, the working team of
Guilin Village, Yidu Town, Longchuan County, Heyuan City (hereinafter referred to as the "working team in the
village") dispatched by SZCH has completed the targeted poverty alleviation project for Guilin Village and
achieved expected results by the end of 2020 through a series of powerful measures, contributing SZCH strength
for winning the battle against poverty as scheduled. In the first half of 2021, in order to consolidate and expand
the achievements of poverty alleviation, the working team in the village maintained unabated efforts and worked
hard, and did a good job in the finishing touches in a pragmatic and efficient manner so as to make the foundation
of poverty alleviation more stable and the results more sustainable, and make solid progress in the effective
connection between targeted poverty alleviation and rural revitalization.
31
深圳市深粮控股股份有限公司 2021 年半年度报告全文
To effectively carry out the rural revitalization work, according to the relevant work deployment of the provincial
party committee and municipal party committee, SZCH and Government Offices Administration of Shenzhen,
Meteorological Bureau of Shenzhen Municipality and China Life Insurance Company Ltd., Heyuan Centre
Branch assigned crew, and formed a support working in the town (hereinafter referred to as the "working team in
the town") to Tuocheng Town, Longchuan County, Heyuan City to carry out the support work of rural
revitalization.
SZCH has been working hard to provide assistance to Tibet. The second batch of high-quality cadres have been
selected and sent to Chayu Farm in Nyingchi, Tibet. We will take good care of cadres assisting Tibet, and ensure
their services and support, so that they can make more contributions to Tibet. The company donated 200,000 yuan
to Chayu Farm to improve the living conditions of farm workers.
32
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section VI Important Events
I. Commitments that the actual controller, shareholders, related party, buyer and the Company have
fulfilled during the reporting period and the overdue commitments as of the end of the reporting period
□ Applicable √Not applicable
There is no commitments that the actual controller, shareholders, related party, buyer and the Company have fulfilled during the
reporting period and the overdue commitments as of the end of the reporting period
II. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period.
III. External guarantee against the regulation
□ Applicable √Not applicable
No external guarantee against the regulation occurred in the period
IV. Appointment and non-reappointment (dismissal) of CPA
Whether the financial report has been audited or not
□Yes √No
The financial report has not been audited
V. Explanation from Board of Directors and Supervisory Committee for “Qualified Opinion”
that issued by CPA
□ Applicable √ Not applicable
VI. Explanation from the BOD for “Qualified Opinion” of last year
□ Applicable √ Not applicable
VII. Bankruptcy reorganization
□ Applicable √ Not applicable
33
深圳市深粮控股股份有限公司 2021 年半年度报告全文
No bankruptcy reorganization for the Company in end of this period
VIII. Lawsuits
Significant lawsuits and arbitration
□ Applicable √ Not applicable
No significant lawsuits and arbitration occurred in the reporting period
Other lawsuits
√ Applicable □ Not applicable
Amount
involved Trial result Execution Disclo Discl
Resulted an accrual
Lawsuits (arbitration) (in 10 Progress and of sure osure
liability (Y/N)
thousand influence judgment date index
Yuan)
The Company
As of 30 June 2021, Yes, the single loan actively makes
other lawsuits that did contract dispute from use of the After
not meet the subordinate enterprise advantageous comprehen
disclosure standards of the Company is resources of sive
for significant expected to form an internal legal analysis,
lawsuits mainly accrual liability of 3.5 affairs and the
including: disputes million yuan external laws outcome of
over purchase and approximately. Other firm to follow up the cases
In Not Not
sales contract, lawsuit-related cases and deal with the involved in
13,918.9 promoting applica appli
disputes over loans are relatively small in lawsuit-related the
actively ble cable
contract, disputes individual amount, cases. At present, lawsuits
over construction and will not have a the Company is will not
contracts, disputes significant impact on responding to and have a
over corporate the Company when dealing with the significant
separation contracts analyzed in cases effectively impact on
and housing lease conjunction with the in accordance the
contract dispute etc. progress of these with relevant Company
cases. laws and
regulations
IX. Penalty and rectification
□ Applicable √Not applicable
No penalty and rectification for the Company in reporting period.
34
深圳市深粮控股股份有限公司 2021 年半年度报告全文
X. Integrity of the Company and its controlling shareholders and actual controllers
□ Applicable √Not applicable
XI. Major related transaction
1. Related transaction with routine operation concerned
□ Applicable √ Not applicable
No related transaction occurred in the period with routine operation concerned
2. Assets or equity acquisition, and sales of assets and equity
□ Applicable √ Not applicable
No related transaction concerning the asses or equity acquisition and sold in the period
3. Related transaction of foreign investment
□ Applicable √Not applicable
No related transaction of foreign investment occurred in the period
4. Related credits and liabilities
□ Applicable √ Not applicable
No related credits and liabilities occurred in period
5. Transactions with related finance companies and finance companies controlled by the Company
□ Applicable √ Not applicable
No deposits, loans, credit or other financial operations occurred between the Company and related finance companies, the finance
companies controlled by the Company and related parties in the period.
6. Other major related transaction
□ Applicable √Not applicable
No other major related transaction in the Period.
35
深圳市深粮控股股份有限公司 2021 年半年度报告全文
XII. Significant contract and implementations
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √Not applicable
No trusteeship for the Company in reporting period
(2) Contract
□ Applicable √Not applicable
No contract for the Company in reporting period
(3) Leasing
□ Applicable √Not applicable
No leasing in the Period
2. Major Guarantee
√ Applicable □Not applicable
In 10 thousand Yuan
External Guarantee (not including guarantees to subsidiaries)
Count
Name of Related er Comple Guaran
Actual
the Announc Actual Collateral guara te tee for
Guarante date of Guarante Guarant
Company ement guarantee implem related
e limit happenin e type (if any) ntee ee term
guarantee disclosur limit entation party
g
d e date (if or not (Y/N)
any)
Guarantee for the subsidiaries
Count
Name of Related er Comple Guaran
Actual
the Announc Actual Collateral guara te tee for
Guarante date of Guarante Guarant
Company ement guarantee implem related
e limit happenin e type (if any) ntee ee term
guarantee disclosur limit entation party
g
d e date (if or not (Y/N)
any)
Guarantee of the subsidiaries for the subsidiaries
Name of Related Count Comple Guaran
Actual
the Announc Actual Collateral er te tee for
Guarante date of Guarante Guarant
Company ement guarantee implem related
e limit happenin e type (if any) guara ee term
guarantee disclosur limit entation party
g
d e date ntee or not (Y/N)
36
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(if
any)
Donggua
Joint and
n
2015-07- several
Shenliang 27,300 14,502 N/A N 8-year N N
13 liability
Logistics
guarantee
Co., Ltd.
Donggua
Joint and
n
2016-12- several
Shenliang 10,200 2,918 N/A N 5-year N N
21 liability
Logistics
guarantee
Co., Ltd.
Donggua
n
Internatio
Joint and
nal Food
2018-07- several
Industrial 39,168 31,216 N/A N 14-year N N
27 liability
Park
guarantee
Develop
ment Co.,
Ltd.
Donggua
Joint and
n
2020-10- several
Shenliang 21,930 1,935 N/A N 14-year N N
20 liability
Logistics
guarantee
Co., Ltd.
Donggua
n
Joint and
Shenliang
2019-04- several
Oil & 11,883 4,584 N/A N 8-year N N
19 liability
Food
guarantee
Trade
Co., Ltd.
Total amount of Total amount of actual
approving guarantee occurred guarantee for
82,300 659
for subsidiaries in subsidiaries in report
report period (C1) period (C2)
Total amount of Total balance of actual
approved guarantee guarantee for
for subsidiaries at the 192,781 subsidiaries at the end 55,155
end of reporting of reporting period
period (C3) (C4)
Total amount of guarantee of the Company (total of three above mentioned guarantee)
Total amount of actual
Total amount of approving
occurred guarantee in
guarantee in report period 82,300 659
report period
(A1+B1+C1)
(A2+B2+C3)
37
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Total balance of actual
Total amount of approved
guarantee at the end of
guarantee at the end of report 192,781 55,155
report period
period (A3+B3+C2)
(A4+B4+C4)
The proportion of the total amount of actually
guarantee in the net assets of the Company (that 12.40%
is A4+ B4+C4)
Including:
Balance of the guarantee provided for
shareholder, actual controller and their related 0
parties (D)
The debts guarantee amount provided for the
guaranteed parties whose assets-liability ratio 50,571
exceed 70% directly or indirectly (E)
Proportion of total amount of guarantee in net
0
assets of the Company exceed 50% (F)
Total amount of the aforesaid three guarantees
50,571
(D+E+F)
Explanations on possibly bearing joint and
several liquidating responsibilities for undue N/A
guarantees (if applicable)
Explanations on external guarantee against
N/A
regulated procedures (if applicable)
Explanation on guarantee with composite way
N/A
3.Trust financing
√ Applicable □ Not applicable
In 10 thousand Yuan
Impairment
amount accrual
Type Fund sources Amount occurred Undue balance Overdue amount for overdue
financial
management
Bank financial
Owned Funds 29,000 2,000 0 0
products
Total 29,000 2,000 0 0
The high-risk trust investment with single major amount or has minor security, poor fluidity and non-guaranteed
□ Applicable √Not applicable
Unrecoverable principal or impairment possibility from entrust investment
□ Applicable √ Not applicable
38
深圳市深粮控股股份有限公司 2021 年半年度报告全文
4. Material contracts for daily operations
□ Applicable √Not applicable
5. Other material contracts
□ Applicable √ Not applicable
No other material contracts in the period.
XIII. Explanation of other important events
√ Applicable □ Not applicable
1. Changes in directors, supervisor and senior executives
On July 16, 2021, the company received a written resignation from Ms. Jin Zhenyuan, a director and the Chief
Financial Officer of the company. Due to job transfer, Ms. Jin Zhenyuan applied to resign from her position as
director and chief financial officer of the company. On the same day, the company held the 16th meeting of the
tenth board of directors, deliberated and approved the Proposal on the Appointment of the Company's Chief
Financial Officer and the Proposal on the Addition of the Company's Directors, and agreed to appoint Ms. Lu
Yuhe as the company's chief financial officer for a term from the date of the approval of the board of directors to
the expiration of the tenth board of directors; agreed to add Ms. Lu Yuhe as a director of the tenth board of
directors of the company and submit it to the shareholders' meeting for approval. For details, see the
Announcement of Resolutions of the 16th Meeting of the Tenth Board of Directors of the Company and the
Announcement of Resignation of Directors and Chief Financial Officer of the Company and Appointment of
Chief Financial Officer of the Company and the Addition of Directors of the Company published at
www.cninfo.com.cn on July 17, 2021.
The company held the first extraordinary shareholders' meeting of 2021 on August 2, 2021, which deliberated and
approved the Proposal on the Addition of Directors of the Company and agreed to add Ms. Lu Yuhe as a director
of the tenth board of directors of the company. The term of office shall be from the date of approval of the
resolution at the shareholders' meeting of the company to the date of expiration of the tenth board of directors of
the company. For details, see the Announcement of the Resolutions of the Company's First Extraordinary General
Meeting of Shareholders in 2021 published at www.cninfo.com.cn on August 3, 2021.
XIV. Important events from subsidiaries
√ Applicable □ Not applicable
1. The company held the 15th meeting of the tenth board of directors on June 1, 2021, which deliberated and
approved the Proposal on the Company's Acquisition of 49% Equity of Dongguan Shenliang Logistics Co., Ltd.,
and agreed that the company acquires the 49% equity of Dongguan Shenliang Logistics Co., Ltd., held by
Dongguan Fruits and Vegetables and Non-staple Food Trading Market Co., Ltd. in cash, the purchase price was
321.68 million yuan. For details, see the "Announcement of Resolutions of the 15th Meeting of the Tenth Board of
39
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Directors of the Company" and the "Announcement of the Company on the Acquisition of 49% Equity of
Dongguan Shenliang Logistics Co., Ltd." published at www.cninfo.com.cn on June 2, 2021.
2. The company held the 16th meeting of the tenth board of directors on July 16, 2021 and the first extraordinary
shareholders’ meeting on August 2, 2021, which deliberated and approved the "Proposal on the Consolidation and
Merger of Shenzhen Shenbao Technology Center Co., Ltd., agreed to the company’s consolidation and merger of
the wholly-owned subsidiary of Shenzhen Shenbao Technology Center Co., Ltd. For details, please see the
Announcement of Resolutions of the 16th Meeting of the Tenth Board of Directors of the Company and the
Announcement of the Company’s Consolidation and Merger of Shenzhen Shenbao Technology Center Co., Ltd.
published at www.cninfo.com.cn on July 17, 2021, and the Announcement of Resolutions of the Company’s First
Extraordinary Shareholders’ Meeting in 2021 published at www.cninfo.com.cn on August 3, 2021.
3. On July 22, 2021, the company acquired 51% of the equity of Wuhan Jiacheng biotechnology Co.,Ltd in cash
with the purchase price of 21,675,000 yuan. After the completion of the acquisition, the Company held a total of
51% of the equity of Wuhan Jiasheng biotechnology Co., Ltd.
40
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section VII. Changes in Shares and Particulars about Shareholders
I. Changes in Share Capital
1. Changes in Share Capital
In Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Public
Bon
New reserve
Proporti us Oth Subt Proporti
Amount shares transfer Amount
on shar ers otal on
issued into share
es
capital
I. Restricted shares 684,601,142 59.40% 0 0 0 0 0 684,601,142 59.40%
1. State-owned shares 0 0.00% 0 0 0 0 0 0 0.00%
2. State-owned legal
684,569,567 59.40% 0 0 0 0 0 684,569,567 59.40%
person’s shares
3. Other domestic
31,575 0.00% 0 0 0 0 0 31,575 0.00%
shares
Including: Domestic
0 0.00% 0 0 0 0 0 0 0.00%
legal person’s shares
Domestic natural
31,575 0.00% 0 0 0 0 0 31,575 0.00%
person’s shares
4. Foreign shares 0 0.00% 0 0 0 0 0 0 0.00%
Including: Foreign
0 0.00% 0 0 0 0 0 0 0.00%
legal person’s shares
Foreign natural
0 0.00% 0 0 0 0 0 0 0.00%
person’s shares
II. Unrestricted shares 467,934,112 40.60% 0 0 0 0 0 467,934,112 40.60%
1. RMB ordinary
416,184,832 36.11% 0 0 0 0 0 416,184,832 36.11%
shares
2. Domestically listed
51,749,280 4.49% 0 0 0 0 0 51,749,280 4.49%
foreign shares
3. Overseas listed
0 0.00% 0 0 0 0 0 0 0.00%
foreign shares
4. Others 0 0.00% 0 0 0 0 0 0 0.00%
III. Total shares 1,152,535,254 100.00% 0 0 0 0 0 1,152,535,254 100.00%
41
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Reasons for share changed
□ Applicable √ Not applicable
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changed
□ Applicable √ Not applicable
Progress of shares buy-back
□ Applicable √ Not applicable
Implementation progress of reducing holdings of shares buy-back by centralized bidding
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
2. Changes of lock-up stocks
□ Applicable √ Not applicable
II. Securities issuance and listing
□ Applicable √ Not applicable
III. Amount of shareholders of the Company and particulars about shares holding
In Share
Total common stock Total preference shareholders with voting rights
shareholders in reporting 55,886 recovered at end of reporting period (if 0
period-end applicable) (see note 8)
Particulars about common shares held above 5% by shareholders or top ten common shareholders
Information
of shares
Amount of
Amount of pledged,
Proport common Amount of
Changes common tagged or
Nature of ion of shares held restricted
Full name of Shareholders in report shares held frozen
shareholder shares at the end of common
period without State
held reporting shares held Am
restriction of
period oun
shar
t
e
Shenzhen Food Materials State-owned 63.79% 735,237,253 0 669,184,735 66,052,518
42
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Group Co., Ltd legal person
Shenzhen Agricultural State-owned
8.23% 94,832,294 0 15,384,832 79,447,462
Products Group Co., Ltd legal person
Dongguan Fruit Vegetable Domestic
Non-staple Food Trading non-state 0.54% 6,198,236 6,198,236 0 6,198,236
Market Co., Ltd. legal person
Domestic
Lin Junbo nature 0.31% 3,600,000 33,300 0 3,600,000
person
Domestic
Sun Huiming nature 0.30% 3,436,462 0 0 3,436,462
person
Domestic
Chen Jiuyang nature 0.27% 3,086,700 342,000 0 3,086,700
person
Domestic
Xu Wenxing nature 0.18% 2,056,925 6,545 0 2,056,925
person
Domestic
Hu Xiangzhu nature 0.12% 1,380,000 -183,000 0 1,380,000
person
Domestic
Xu Zhifeng nature 0.10% 1,166,000 1,166,000 0 1,166,000
person
Domestic
Wang Lianyi nature 0.10% 1,152,200 1,152,200 0 1,152,200
person
Strategy investor or general legal person
becoming the top 10 common shareholders
N/A
by placing new shares (if applicable) (see
note 3)
Shenzhen SASAC directly holds 100% equity of Shenzhen Food Materials Group
Co., Ltd., and holds 34% of Shenzhen Agricultural Products Group Co., Ltd.
Explanation on associated relationship indirectly through Shenzhen Food Materials Group Co., Ltd.; the Company was
among the aforesaid shareholders not aware of any related relationship between other shareholders above, and
whether they belonged to parties acting in concert as defined by the Acquisition
Management Method of Listed Company.
Description of the above shareholders in
relation to delegate/entrusted voting rights N/A
and abstention from voting rights.
43
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Special note on the repurchase account
among the top 10 shareholders (if N/A
applicable) (see note 11)
Particular about top ten shareholders with un-lock up common stocks held
Amount of common shares held without Type of shares
Shareholders’ name
restriction at Period-end Type Amount
Shenzhen Agricultural Products Group RMB common
79,447,462 79,447,462
Co., Ltd shares
RMB common
Shenzhen Food Materials Group Co., Ltd 66,052,518 66,052,518
shares
Dongguan Fruit Vegetable Non-staple RMB common
6,198,236 6,198,236
Food Trading Market Co., Ltd. shares
RMB common
Lin Junbo 3,600,000 3,600,000
shares
Domestically
Sun Huiming 3,436,462 listed foreign 3,436,462
shares
RMB common
Chen Jiuyang 3,086,700 3,086,700
shares
RMB common
Xu Wenxing 2,056,925 2,056,925
shares
RMB common
Hu Xiangzhu 1,380,000 1,380,000
shares
RMB common
Xu Zhifeng 1,166,000 1,166,000
shares
RMB common
Wang Lianyi 1,152,200 1,152,200
shares
Shenzhen SASAC directly holds 100% equity of Shenzhen Food Materials Group
Expiation on associated relationship or
Co., Ltd., and holds 34% of Shenzhen Agricultural Products Group Co., Ltd.
consistent actors within the top 10 un-lock
indirectly through Shenzhen Food Materials Group Co., Ltd.; the Company was
up common shareholders and between top
not aware of any related relationship between other shareholders above, and
10 un-lock up common shareholders and
whether they belonged to parties acting in concert as defined by the Acquisition
top 10 common shareholders
Management Method of Listed Company.
1. At the end of reporting period, Shareholder – Lin Junbo holds 3,600,000 shares
of the Company under customer credit trading secured securities account through
Explanation on top 10 common China Merchants Securities Co., Ltd., common account holds 0 shares, and
shareholders involving margin business (if 3,600,000 shares are held in total at end of the Period. During the reporting period,
applicable) (see note 4) the credit trading secured securities account has 3,600,000 shares increased, and
shares held in the common account has 3,566,700 shares decreased, shares held are
increased 33,300 shares in total.
44
深圳市深粮控股股份有限公司 2021 年半年度报告全文
2. At the end of reporting period, Shareholder – Xu Zhifeng holds 1,146,000 shares
of the Company under customer credit trading secured securities account through
Nanjing Securities Co., Ltd., common account holds 20,000 shares, and 1,166,000
shares are held in total at end of the Period. During the reporting period, the credit
trading secured securities account has 1,146,000 shares increased, and shares held
in the common account has 20,000 shares increased, shares held are increased
1,166,000 shares in total.
3. At the end of reporting period, Shareholder – Wang Lianyi holds 1,152,200
shares of the Company under customer credit trading secured securities account
through Industrial Securities Co., Ltd., common account holds 0 shares, and
1,152,200 shares are held in total at end of the Period. During the reporting period,
the credit trading secured securities account has 1,152,200 shares increased, and no
change in the common account, shares held are increased 1,152,200 shares in total.
Whether top ten common stock shareholders or top ten common stock shareholders with un-lock up shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-lock up shares held of the Company have no
buy-back agreement dealing in reporting period.
IV. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior executives have no changes in reporting period, found more details in Annual Report
2020.
V. Changes in controlling shareholders or actual controllers
Change of controlling shareholder during the reporting period
□ Applicable √ Not applicable
The Company had no change of controlling shareholder during the reporting period
Change of actual controller during the reporting period
□ Applicable √ Not applicable
The Company had no change of actual controller during the reporting period
45
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section VIII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the Period.
46
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section IX. Corporate Bonds
□ Applicable √ Not applicable
47
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Section X. Financial Report
I. Audit report
Whether the semi annual report is audited
□ Yes √ No
The company's semi annual financial report has not been audited
II. Financial Statement
Statement in Financial Notes are carried in RMB/CNY
1. Consolidated Balance Sheet
Prepared by SHENZHEN CEREALS HOLDINGS CO., LTD.
In RMB/CNY
Item June 30, 2021 December 31, 2020
Current assets:
Monetary funds 68,774,083.11 190,494,225.94
Settlement provisions
Capital lent
Trading financial assets 910,778.83 160,621,806.51
Derivative financial assets
Note receivable 694,376.00 2,213,426.00
Account receivable 712,441,439.01 198,311,102.17
Receivable financing
Accounts paid in advance 75,748,406.57 27,136,263.84
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 18,588,482.62 22,631,043.66
Including: Interest receivable
Dividend receivable
Buying back the sale of financial
assets
48
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Inventories 4,130,250,968.86 3,418,328,974.27
Contract assets
Assets held for sale
Non-current asset due within one
year
Other current assets 126,719,728.35 119,750,603.31
Total current assets 5,134,128,263.35 4,139,487,445.70
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 73,655,327.51 73,215,147.84
Investment in other equity
instrument
Other non-current financial
57,500.00 57,500.00
assets
Investment real estate 244,847,354.37 253,037,899.57
Fixed assets 1,339,305,491.07 1,122,692,490.55
Construction in progress 868,979,194.24 1,045,643,295.57
Productive biological asset 382,848.00 387,694.20
Oil and gas asset
Right-of-use assets 89,811,269.93
Intangible assets 606,551,066.68 599,306,223.04
Expense on Research and
Development
Goodwill
Long-term expenses to be
29,232,611.11 31,732,325.01
apportioned
Deferred income tax asset 41,450,382.72 41,347,952.12
Other non-current asset 1,335,915.84 2,476,174.33
Total non-current asset 3,295,608,961.47 3,169,896,702.23
Total assets 8,429,737,224.82 7,309,384,147.93
Current liabilities:
Short-term loans 1,212,686,540.73 110,318,727.12
49
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable
Account payable 703,173,288.94 480,896,517.64
Accounts received in advance 4,961,036.19 3,376,262.66
Contract liability 149,884,356.62 108,975,866.82
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 232,853,211.08 260,514,559.66
Taxes payable 29,684,001.70 66,904,735.29
Other account payable 438,040,855.78 397,325,719.50
Including: Interest payable
Dividend payable 2,933,690.04 2,933,690.04
Commission charge and
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due
137,873,648.25 104,225,183.07
within one year
Other current liabilities 7,250,420.68
Total current liabilities 2,909,156,939.29 1,539,787,992.44
Non-current liabilities:
Insurance contract reserve
Long-term loans 805,594,327.98 841,864,531.75
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability 91,245,488.14
50
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Long-term account payable 17,023,270.19 16,126,146.20
Long-term wages payable
Accrual liability 3,500,000.00 3,500,000.00
Deferred income 103,098,943.07 100,710,038.32
Deferred income tax liabilities 11,943,176.43 12,150,035.13
Other non-current liabilities
Total non-current liabilities 1,032,405,205.81 974,350,751.40
Total liabilities 3,941,562,145.10 2,514,138,743.84
Owner’s equity:
Share capital 1,152,535,254.00 1,152,535,254.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 1,262,320,013.74 1,422,892,729.36
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 382,367,575.37 382,367,575.37
Provision of general risk
Retained profit 1,650,876,264.99 1,637,536,441.03
Total owner’ s equity attributable to
4,448,099,108.10 4,595,331,999.76
parent company
Minority interests 40,075,971.62 199,913,404.33
Total owner’ s equity 4,488,175,079.72 4,795,245,404.09
Total liabilities and owner’ s equity 8,429,737,224.82 7,309,384,147.93
Legal Representative: Zhu Junming
Person in charge of accounting works: Lu Yuhe
Person in charge of accounting institute: Wen Jieyu
2. Balance Sheet of Parent Company
In RMB/CNY
Item June 30, 2021 December 31, 2020
51
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Current assets:
Monetary funds 5,854,664.28 5,312,806.71
Trading financial assets 910,778.83 621,806.51
Derivative financial assets
Note receivable
Account receivable 364,150,328.77 4,087,681.18
Receivable financing
Accounts paid in advance
Other account receivable 824,833,488.88 892,105,968.23
Including: Interest receivable
Dividend
390,000,000.00 390,000,000.00
receivable
Inventories
Contract assets
Assets held for sale
Non-current assets maturing
within one year
Other current assets 11,817,926.97 1,497,597.50
Total current assets 1,207,567,187.73 903,625,860.13
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 4,029,394,425.09 3,707,714,425.09
Investment in other equity
instrument
Other non-current financial
assets
Investment real estate 16,750,708.90 16,986,504.04
Fixed assets 32,539,655.72 33,125,275.65
Construction in progress 493,682.75
Productive biological assets 382,848.00 387,694.20
Oil and natural gas assets
Right-of-use assets
Intangible assets 16,781,499.47 12,842,693.98
52
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Research and development costs
Goodwill
Long-term deferred expenses 966,458.94 1,040,708.20
Deferred income tax assets
Other non-current assets
Total non-current assets 4,097,309,278.87 3,772,097,301.16
Total assets 5,304,876,466.60 4,675,723,161.29
Current liabilities:
Short-term borrowings 312,629,623.82
Trading financial liability
Derivative financial liability
Notes payable
Account payable
Accounts received in advance
Contract liability 411.00 411.00
Wage payable 35,530,964.43 26,535,794.31
Taxes payable 3,625,912.04 2,736,075.65
Other accounts payable 545,254,132.00 45,560,514.82
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due
within one year
Other current liabilities
Total current liabilities 897,041,043.29 74,832,795.78
Non-current liabilities:
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long term employee
compensation payable
53
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Accrued liabilities 3,500,000.00 3,500,000.00
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 3,500,000.00 3,500,000.00
Total liabilities 900,541,043.29 78,332,795.78
Owners’ equity:
Share capital 1,152,535,254.00 1,152,535,254.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 3,018,106,568.27 3,018,106,568.27
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve 109,963,147.23 109,963,147.23
Retained profit 123,730,453.81 316,785,396.01
Total owner’s equity 4,404,335,423.31 4,597,390,365.51
Total liabilities and owner’s equity 5,304,876,466.60 4,675,723,161.29
3. Consolidated Profit Statement
In RMB/CNY
Item 2021 semi-annual 2020 semi-annual
I. Total operating income 5,262,189,180.53 4,740,428,222.10
Including: Operating income 5,262,189,180.53 4,740,428,222.10
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 4,901,525,013.61 4,448,897,391.27
Including: Operating cost 4,650,397,070.67 4,219,403,828.80
Interest expense
Commission charge and
commission expense
54
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal
of insurance contract reserve
Bonus expense of
guarantee slip
Reinsurance expense
Tax and extras 6,969,279.85 4,334,418.54
Sales expense 106,711,776.77 109,796,698.11
Administrative expense 109,316,093.65 101,838,460.53
R&D expense 10,926,018.15 7,368,772.68
Financial expense 17,204,774.52 6,155,212.61
Including: Interest
15,362,400.04 7,410,693.33
expenses
Interest
765,002.68 1,735,133.50
income
Add: Other income 4,891,929.30 10,824,560.17
Investment income (Loss is
3,501,371.30 10,249,064.30
listed with “-”)
Including: Investment
income on affiliated company and joint 440,179.67 366,989.43
venture
The termination of
income recognition for financial assets
measured by amortized cost
Exchange income (Loss is
listed with “-”)
Net exposure hedging
income (Loss is listed with “-”)
Income from change of fair
288,972.32 -572,784.42
value (Loss is listed with “-”)
Loss of credit impairment
34,157.37 1,791,966.35
(Loss is listed with “-”)
Losses of devaluation of
-111,448,173.12 -95,290,043.04
asset (Loss is listed with “-”)
Income from assets disposal
8,318.64 -10,598.38
(Loss is listed with “-”)
55
深圳市深粮控股股份有限公司 2021 年半年度报告全文
III. Operating profit (Loss is listed with
257,940,742.73 218,522,995.81
“-”)
Add: Non-operating income 1,627,702.56 1,358,799.58
Less: Non-operating expense 403,164.30 5,186,666.30
IV. Total profit (Loss is listed with “-”) 259,165,280.99 214,695,129.09
Less: Income tax expense 13,407,354.56 2,465,268.63
V. Net profit (Net loss is listed with
245,757,926.43 212,229,860.46
“-”)
(i) Classify by business continuity
1.continuous operating net profit
245,757,926.43 212,229,860.46
(net loss listed with ‘-”)
2.termination of net profit (net
loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to
243,846,874.76 210,738,686.12
owner’s of parent company
2.Minority shareholders’ gains
1,911,051.67 1,491,174.34
and losses
VI. Net after-tax of other
comprehensive income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that
cannot be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
56
深圳市深粮控股股份有限公司 2021 年半年度报告全文
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 245,757,926.43 212,229,860.46
Total comprehensive income
attributable to owners of parent 243,846,874.76 210,738,686.12
Company
Total comprehensive income
1,911,051.67 1,491,174.34
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.2116 0.1828
(ii) Diluted earnings per share 0.2116 0.1828
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: Zhu Junming
Person in charge of accounting works: Lu Yuhe
Person in charge of accounting institute: Wen Jieyu
57
深圳市深粮控股股份有限公司 2021 年半年度报告全文
4. Profit Statement of Parent Company
In RMB/CNY
Item Semi-annual of 2021 Semi-annual of 2020
I. Operating income 78,409,527.17 191,007.09
Less: Operating cost 235,795.14 250,130.28
Taxes and surcharge 443,112.63 115,899.05
Sales expenses 1,557.53
Administration expenses 40,040,419.50 27,299,132.94
R&D expenses
Financial expenses 893,183.83 -137,521.80
Including: Interest
1,145,171.80
expenses
Interest
285,480.74 131,202.58
income
Add: Other income 169,161.92 994,791.02
Investment income (Loss is
567,166.06 392,812,575.88
listed with “-”)
Including: Investment
income on affiliated Company and -48,505.63
joint venture
The termination of
income recognition for financial
assets measured by amortized cost
(Loss is listed with “-”)
Net exposure hedging
income (Loss is listed with “-”)
Changing income of fair
288,972.32 -572,784.42
value (Loss is listed with “-”)
Loss of credit impairment
-220,207.77 -204,763.50
(Loss is listed with “-”)
Losses of devaluation of
asset (Loss is listed with “-”)
Income on disposal of
assets (Loss is listed with “-”)
II. Operating profit (Loss is listed
37,602,108.60 365,691,628.07
with “-”)
Add: Non-operating income 357,590.00
58
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Less: Non-operating expense 150,000.00 5,090,000.00
III. Total Profit (Loss is listed with
37,452,108.60 360,959,218.07
“-”)
Less: Income tax
IV. Net profit (Net loss is listed with
37,452,108.60 360,959,218.07
“-”)
(i) continuous operating net
37,452,108.60 360,959,218.07
profit (net loss listed with ‘-”)
(ii) termination of net profit (net
loss listed with ‘-”)
V. Net after-tax of other
comprehensive income
(i) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that
cannot be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
59
深圳市深粮控股股份有限公司 2021 年半年度报告全文
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
VI. Total comprehensive income 37,452,108.60 360,959,218.07
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB/CNY
Item Semi-annual of 2021 Semi-annual of 2020
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 4,872,625,307.71 4,851,380,535.76
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
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in
sale and purchase of securities
60
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Write-back of tax received 15,314,266.13 2,634,408.13
Other cash received concerning
509,043,498.66 440,707,293.21
operating activities
Subtotal of cash inflow arising from
5,396,983,072.50 5,294,722,237.10
operating activities
Cash paid for purchasing
commodities and receiving labor 5,229,031,194.26 4,653,349,386.89
service
Net increase of customer loans
and advances
Net increase of deposits in
central bank and interbank
Cash paid for original insurance
contract compensation
Net increase of capital lent
Cash paid for interest,
commission charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and
158,496,287.47 149,264,002.51
workers
Taxes paid 108,750,086.71 37,068,103.68
Other cash paid concerning
591,977,655.39 445,430,382.87
operating activities
Subtotal of cash outflow arising from
6,088,255,223.83 5,285,111,875.95
operating activities
Net cash flows arising from operating
-691,272,151.33 9,610,361.15
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
270,000,000.00 464,500,000.00
investment
Cash received from investment
3,051,423.05 7,544,998.92
income
Net cash received from disposal
of fixed, intangible and other 17,565.00 19,988.32
long-term assets
Net cash received from disposal
61
深圳市深粮控股股份有限公司 2021 年半年度报告全文
of subsidiaries and other units
Other cash received concerning
54,336.41 337,500.00
investing activities
Subtotal of cash inflow from
273,123,324.46 472,402,487.24
investing activities
Cash paid for purchasing fixed,
98,438,615.15 156,742,240.20
intangible and other long-term assets
Cash paid for investment 120,006,966.66 385,000,000.00
Net increase of mortgaged loans
Net cash received from
321,680,000.00
subsidiaries and other units obtained
Other cash paid concerning
109,602.00 994,317.84
investing activities
Subtotal of cash outflow from
540,235,183.81 542,736,558.04
investing activities
Net cash flows arising from investing
-267,111,859.35 -70,334,070.80
activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
490,000.00
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 2,006,423,247.45 833,803,914.65
Other cash received concerning
financing activities
Subtotal of cash inflow from
2,006,913,247.45 833,803,914.65
financing activities
Cash paid for settling debts 907,763,968.37 558,227,673.50
Cash paid for dividend and
262,471,931.68 256,130,248.31
profit distributing or interest paying
Including: Dividend and profit
of minority shareholder paid by
subsidiaries
Other cash paid concerning
58,702.23
financing activities
Subtotal of cash outflow from 1,170,235,900.05 814,416,624.04
62
深圳市深粮控股股份有限公司 2021 年半年度报告全文
financing activities
Net cash flows arising from financing
836,677,347.40 19,387,290.61
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -13,479.55 18,647.57
exchange rate
V. Net increase of cash and cash
-121,720,142.83 -41,317,771.47
equivalents
Add: Balance of cash and cash
190,494,225.94 154,954,757.85
equivalents at the period -begin
VI. Balance of cash and cash
68,774,083.11 113,636,986.38
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB/CNY
Item Semi-annual of 2021 Semi-annual of 2020
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 826,505.31 124,032.00
services
Write-back of tax received 103,987.33
Other cash received concerning
664,855,399.05 279,260,229.55
operating activities
Subtotal of cash inflow arising from
665,681,904.36 279,488,248.88
operating activities
Cash paid for purchasing
commodities and receiving labor 45,000,000.00 12,742.23
service
Cash paid to/for staff and
25,664,475.70 15,199,812.23
workers
Taxes paid 1,938,500.47 1,392,555.04
Other cash paid concerning
337,740,658.17 27,911,182.13
operating activities
Subtotal of cash outflow arising from
410,343,634.34 44,516,291.63
operating activities
Net cash flows arising from operating
255,338,270.02 234,971,957.25
activities
63
深圳市深粮控股股份有限公司 2021 年半年度报告全文
II. Cash flows arising from investing
activities:
Cash received from recovering
10,000,000.00 24,500,000.00
investment
Cash received from investment
123,077.77 524,005.56
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
54,336.41 337,500.00
investing activities
Subtotal of cash inflow from
10,177,414.18 25,361,505.56
investing activities
Cash paid for purchasing fixed,
4,271,363.11 5,054,670.76
intangible and other long-term assets
Cash paid for investment 20,006,966.66 30,000,000.00
Net cash received from
321,680,000.00
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from
345,958,329.77 35,054,670.76
investing activities
Net cash flows arising from investing
-335,780,915.59 -9,693,165.20
activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
investment
Cash received from loans 411,800,462.65
Other cash received concerning
financing activities
Subtotal of cash inflow from
411,800,462.65
financing activities
Cash paid for settling debts 99,925,561.27
Cash paid for dividend and
230,890,398.24 230,507,050.80
profit distributing or interest paying
64
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Other cash paid concerning
58,702.23
financing activities
Subtotal of cash outflow from
330,815,959.51 230,565,753.03
financing activities
Net cash flows arising from financing
80,984,503.14 -230,565,753.03
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 8,620.29
exchange rate
V. Net increase of cash and cash
541,857.57 -5,278,340.69
equivalents
Add: Balance of cash and cash
5,312,806.71 16,272,394.90
equivalents at the period -begin
VI. Balance of cash and cash
5,854,664.28 10,994,054.21
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
Current Amount
In RMB/CNY
Semi-annual of 2021
Owners’ equity attributable to the parent Company
Other
equity
instrument Othe
Less Tota
r Prov
Per : Reas Min l
Item Sha Capi com Surp ision Reta
pet Inve onab ority own
re Pre tal preh lus of ined Othe Subt
ual ntor le inter ers’
cap fer reser ensi reser gene profi r otal
cap Ot y reser ests equit
ital red ve ve ve ral t
ital her shar ve y
sto inco risk
sec es
ck me
urit
ies
1,1
52, 1,42 382, 1,63 4,59 199, 4,79
I. The ending
535 2,89 367, 7,53 5,33 913, 5,24
balance of the
,25 2,72 575. 6,44 1,99 404. 5,40
previous year
4.0 9.36 37 1.03 9.76 33 4.09
0
Add: Changes
of accounting
65
深圳市深粮控股股份有限公司 2021 年半年度报告全文
policy
Error
correction of
the last period
Enterprise
combine
under the
same control
Other
1,1
II. The 52, 1,42 382, 1,63 4,59 199, 4,79
beginning 535 2,89 367, 7,53 5,33 913, 5,24
balance of the ,25 2,72 575. 6,44 1,99 404. 5,40
current year 4.0 9.36 37 1.03 9.76 33 4.09
0
III. Increase/
Decrease in -160 13,3 -147 -159 -307
the period ,572, 39,8 ,232, ,837, ,070,
(Decrease is 715. 23.9 891. 432. 324.
listed with 62 6 66 71 37
“-”)
243, 243, 245,
(i) Total 1,91
846, 846, 757,
comprehensiv 1,05
874. 874. 926.
e income 1.67
76 76 43
(ii) Owners’ -160 -160 -161 -322
devoted and ,572, ,572, ,748, ,321,
decreased 715. 715. 484. 200.
capital 62 62 38 00
1.Common -160 -160 -161 -322
shares ,572, ,572, ,748, ,321,
invested by 715. 715. 484. 200.
shareholders 62 62 38 00
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned into
owners equity
66
深圳市深粮控股股份有限公司 2021 年半年度报告全文
with
share-based
payment
4. Other
-230 -230 -230
(iii) Profit ,507, ,507, ,507,
distribution 050. 050. 050.
80 80 80
1. Withdrawal
of surplus
reserves
2. Withdrawal
of general
risk
provisions
3. -230 -230 -230
Distribution ,507, ,507, ,507,
for owners (or 050. 050. 050.
shareholders) 80 80 80
4. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus
reserve
4. Carry-over
retained
67
深圳市深粮控股股份有限公司 2021 年半年度报告全文
earnings from
the defined
benefit plans
5. Carry-over
retained
earnings from
other
comprehensiv
e income
6. Other
(v)
Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in
the report
period
(vi) Others
1,1
52, 1,26 382, 1,65 4,44 40,0 4,48
VI. Balance at
535 2,32 367, 0,87 8,09 75,9 8,17
the end of the
,25 0,01 575. 6,26 9,10 71.6 5,07
period
4.0 3.74 37 4.99 8.10 2 9.72
0
Amount of the previous period
In RMB/CNY
Semi-annual of 2020
Owners’ equity attributable to the parent Company
Other
equity
Othe
instrument Less
r Prov Total
Pe : Reas Mino
Sha Capi com Surp ision Reta owne
Item Inve onab rity
Pr rpe
re tal preh lus of ined Othe Subt rs’
efe tua ntor le intere
cap reser ensi reser gene profi r otal equit
rre l Oth y reser sts
ital ve ve ve ral t y
d ca er shar ve
inco risk
sto pit es
me
ck al
sec
68
深圳市深粮控股股份有限公司 2021 年半年度报告全文
uri
tie
s
1,1
I. The ending 52, 1,42 350, 1,49 4,42 4,623
202,6
balance of 535 2,89 522. 187, 5,13 0,75 ,438,
86,94
the previous ,25 2,72 55 601. 5,08 1,18 130.9
3.42
year 4.0 9.36 06 0.60 7.57 9
0
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Enterprise
combine
under the
same control
Other
1,1
II. The
52, 1,42 350, 1,49 4,42 4,623
beginning 202,6
535 2,89 522. 187, 5,13 0,75 ,438,
balance of 86,94
,25 2,72 55 601. 5,08 1,18 130.9
the current 3.42
4.0 9.36 06 0.60 7.57 9
year
0
III. Increase/
Decrease in -19, -19,
-19,7
the period -522 768, 768, 34,17
34,71
(Decrease is .55 364. 887. 4.34
2.89
listed with 68 23
“-”)
210, 210,
(i) Total 1,491 212,2
738, 738,
comprehensi ,174. 29,86
686. 686.
ve income 34 0.46
12 12
(ii) Owners’
devoted and
decreased
69
深圳市深粮控股股份有限公司 2021 年半年度报告全文
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
-230 -230
-1,45 -231,
(iii) Profit ,507, ,507
7,000 964,0
distribution 050. ,050
.00 50.80
80 .80
1.
Withdrawal
of surplus
reserves
2.
Withdrawal
of general
risk
provisions
3.
-230 -230
Distribution -1,45 -231,
,507, ,507
for owners 7,000 964,0
050. ,050
(or .00 50.80
80 .80
shareholders)
4. Other
(iv) Carrying
forward
internal
owners’
equity
70
深圳市深粮控股股份有限公司 2021 年半年度报告全文
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3.
Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings
from the
defined
benefit plans
5. Carry-over
retained
earnings
from other
comprehensi
ve income
6. Other
(v)
-522 -522 -522.
Reasonable
.55 .55 55
reserve
1.
574, 574,
Withdrawal 574,6
618. 618.
in the report 18.41
41 41
period
2. Usage in 575, 575,
575,1
the report 140. 140.
40.96
period 96 96
(vi) Others
VI. Balance 1,1 1,42 350, 1,47 4,40 202,7 4,603
at the end of 52, 2,89 187, 5,36 0,98 21,11 ,703,
71
深圳市深粮控股股份有限公司 2021 年半年度报告全文
the period 535 2,72 601. 6,71 2,30 7.76 418.1
,25 9.36 06 5.92 0.34 0
4.0
0
8. Statement of Changes in Owners’ Equity (Parent Company)
Current Amount
In RMB/CNY
Semi-annual of 2021
Other
equity instrument
Other
Perp Capita Less:
Share compr Reaso Surplu Retai
Item l Invent Total
etual ehensi nable s ned
capit Prefe Other owners’
capit Othe reserv ory ve reserv reserv profi
al rred equity
al r e shares incom e e t
stock e
secur
ities
1,152 316,
I. The ending 3,018, 109,96
,535, 785, 4,597,39
balance of the 106,56 3,147.
254.0 396. 0,365.51
previous year 8.27 23
0 01
Add:
Changes of
accounting
policy
Error
correction of
the last period
Other
II. The 1,152 316,
3,018, 109,96
beginning ,535, 785, 4,597,39
106,56 3,147.
balance of the 254.0 396. 0,365.51
8.27 23
current year 0 01
III. Increase/
-193,
Decrease in
054, -193,054
the period
942. ,942.20
(Decrease is
20
listed with “-”)
(i) Total 37,4 37,452,1
comprehensive 52,1 08.60
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
income 08.6
0
(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
-230,
(iii) Profit 507, -230,507
distribution 050. ,050.80
80
1. Withdrawal
of surplus
reserves
-230,
2. Distribution
507, -230,507
for owners (or
050. ,050.80
shareholders)
80
3. Other
(iv) Carrying
forward
internal
owners’ equity
1. Capital
reserves
conversed to
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4. Carry-over
retained
earnings from
the defined
benefit plans
5. Carry-over
retained
earnings from
other
comprehensive
income
6. Other
(v) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
(vi) Others
1,152 123,
VI. Balance at 3,018, 109,96
,535, 730, 4,404,33
the end of the 106,56 3,147.
254.0 453. 5,423.31
period 8.27 23
0 81
Amount of the previous period
In RMB/CNY
Semi-annual of 2020
Other Other Surpl
Shar Capit Less: Reason Total
Item equity instrument compr us Retaine
e al Invent able Other owners’
Pref Perp Othe ehensi reserv d profit
capit reserv ory reserve equity
erre etual r ve e
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
al d capit e shares incom
stoc al e
k secu
ritie
s
1,15
I. The ending 3,018, 77,78 257,67
2,53 4,506,09
balance of the 106,5 3,172 2,677.9
5,25 7,673.13
previous year 68.27 .92 4
4.00
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Other
II. The 1,15
3,018, 77,78 257,67
beginning 2,53 4,506,09
106,5 3,172 2,677.9
balance of the 5,25 7,673.13
68.27 .92 4
current year 4.00
III. Increase/
Decrease in
130,45
the period 130,452,
2,167.2
(Decrease is 167.27
7
listed with
“-”)
(i) Total 360,95
360,959,
comprehensiv 9,218.0
218.07
e income 7
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
shareholders
2. Capital
invested by
holders of
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
other equity
instruments
3. Amount
reckoned into
owners equity
with
share-based
payment
4. Other
-230,50
(iii) Profit -230,507,
7,050.8
distribution 050.80
0
1.
Withdrawal
of surplus
reserves
2.
Distribution -230,50
-230,507,
for owners 7,050.8
050.80
(or 0
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
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
4. Carry-over
retained
earnings from
the defined
benefit plans
5. Carry-over
retained
earnings from
other
comprehensiv
e income
6. Other
(v)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(vi) Others
1,15
VI. Balance 3,018, 77,78 388,12
2,53 4,636,54
at the end of 106,5 3,172 4,845.2
5,25 9,840.40
the period 68.27 .92 1
4.00
III. Basic information of Company
Shenzhen Cereals Holdings Co., Ltd. (formerly the Shenzhen Shenbao Industrial Co., Ltd., hereinafter referred to
as “Company” or “the Company” ), formerly named Shenzhen Shenbao Canned Food Company, obtained
approval (Document (1991) No.978) from Shenzhen Municipal People’s Government to change to the name as
Shenzhen Shenbao Industrial Co., ltd. on 1 August 1991.Then with the approval (Document (1991)No.126) from
People’s Bank of China, the Company began to list on Shenzhen Stock Exchange. The Company belongs to the
grain, oil, food and beverage industry.
As of 30 June 2021, the cumulative amount of shares issued by the Company was 1,152,535,254 shares with
registered capital of 1,152,535,254.00 yuan. Registered address: Shenzhen, Guangdong Province; HQ of the
Company: 8/F, Tower B, No.4 Building, Software Industry Base, South District, Science & Technology Park,
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Xuefu Rd., Yuehai Street, Nanshan District, Shenzhen. Main business of the Company: general operating items:
Purchase and sales of grain and oil, grain & oil reserves; operation and processing of grain & oil products;
production of tea, tea products, tea and natural plant extract, canned foods, beverages and native products
(business license of the production place shall be separately applied for); feed management and processing
(outsourcing); investment, operation and development of grain & oil logistics, feed logistics and tea garden etc.;
sales of feed and tea; warehousing services; food circulation services; modern food supply chain services;
technology development and services of grain & oil, tea, plant products, soft drinks and foods; construction of
E-commerce and information, IT development and supporting services; industrial investment (specific items will
be declared separately); domestic trade; operating the import and export business; engaged in real estate
development and operation on the lands where the right-to-use has been legally acquired; development, operation,
leasing and management of the own property; property management; providing management services to
hotels.(items mentioned above which are involved in approval from national laws, administrative regulations and
decision of the state council, must be submitted for examination and approval before operation ). Licensed
business item: wholesale of prepackaged food (excluding reheating prepackaged food) (in non-physical way);
information service (internet information service only); general freight, professional transportation (refrigeration
and fresh-keeping). Parent enterprise of the Company: Shenzhen Food Group Co., Ltd; actual controller of the
Company: Assets Supervision and Administration Commission of Shenzhen municipal People’s Government.
Change of the consolidate scope in the Period found more in “Note VIII. Change of consolidate scope”
Information with subsidiaries concerned found more in the “Note IX. Equity in other entity”
IV. Basis of preparation of financial statements
1. Basis of preparation
The financial statement are prepared in line with the Accounting Standards for Business Enterprise -Basic
Standard issued by Ministry of Finance and specific accounting principle as well as the application guidance for
the accounting principles for enterprise, interpretation to the accounting principles for enterprise and other related
requirements (hereinafter referred to as Accounting Standards for Business Enterprise), combining the
Information Disclosure Preparation Rules for Company Public Issuing Securities No.15-General Rules for
Financial Report of the CSRC
2. Going concern
The Company was evaluated on continued viability of 12 months for the reporting period and found to have no
significant doubt. Accordingly, the financial statements have been prepared on the basis of going concern
assumptions.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
V. Major accounting policy, accounting estimation
Specific accounting policies and estimation attention:
The following disclosures have covered the specific accounting policies and estimates that formulated by the
Company according to the actual characteristics of production and operation.
1. Statement for observation of Accounting Standard for Business Enterprise
The financial statements prepared by the Company are in accordance to requirements of Accounting Standard for
Business Enterprise issued by Ministry of Finance, which truly and completely reflect the financial status of the
Company and parent company on 30 June 2021, as well as the consolidate and parent company’s operational
results and cash flow from Jan.-Jun. of 2021.
2. Accounting period
Calendar year is the accounting period for the Company, that is falls to the range starting from 1 January to 31
December.
3. Operating cycle
Operating cycle of the Company was 12 months
4. Standard 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
Business combination under the same control: The assets and liabilities the Company acquired in a business
combination shall be measured in accordance with book value of assets, liabilities (including the ultimate
controlling party of goodwill acquired by the merging parties and the formation of) stated in combined financial
report of the ultimate controlling party on the merger date. The net book value of assets and the payment of the
merger consideration in the merger book value (or nominal value of shares issued) shall be adjusted in the share
premium of reserve capital. the share premium in capital reserve is not enough for deducting, retained earnings .
Business combination not under the same control: Combination cost is the fair value of the assets paid, the
liabilities incurred or assumed by the purchaser for the acquisition of the control of the purchaser and the equity
securities issued on the purchase date. The difference between the fair value and book value is recognized in profit
or loss. Goodwill is realized by the Company as for the difference between the combination cost and the fair value
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
of the recognizable net assets of the acquiree acquired by acquirer in such business combination. In case that the
above cost is less than the above fair value even with re-review, then the difference shall be recorded in current
gains and losses. Each identifiable assets, liabilities and contingent liability of the acquiree acquired in a
combination that qualifies for recognition is measured at fair value at the date of purchase.
The directed expenses incurred in the business combination are recorded into current gains/losses; the trading fees
for issuing equity securities or debt securities for the business combination shall be recorded into the initial
confirmation amount of equity securities or debt securities.
6. Methods for preparation of consolidated financial statements
6.1 Consolidated scope
The consolidation scope of the consolidated financial statements of the Company is fixed on the basis of control,
which includes the Company and all subsidiaries. Control means that the Company has power over the investee,
enjoys variable returns through its participation in the investee’s related activities, and has the ability to influence
the amount of returns by using the power over the investee.
6.2 Consolidated procedure
The Company regards the entire enterprise group as an accounting entity and prepares consolidated financial
statements in accordance with unified accounting policies to reflect the overall financial status, operating results
and cash flow of the enterprise group. The influence of internal transactions between the company and its
subsidiaries and among the subsidiaries shall be offset. If internal transactions indicate that the relevant assets
have suffered impairment losses, the partial losses shall be confirmed in full. If the accounting policy and
accounting period adopted by the subsidiary are inconsistent with the Company, when preparing the consolidated
financial statements, make necessary adjustments in accordance with the Company's accounting policy and
accounting period.
Subsidiary's equity, current net profits or losses and current comprehensive income belonging to minority
shareholders shall be listed respectively under item of owners’ equity in the consolidated balance sheet, item of
net profit in profit sheet and item of total comprehensive income. Current loss minority shareholders of a
subsidiary exceed the minority shareholders in the subsidiary's opening owners' equity share and the formation of
balance, offset against minority interests.
(1) Increase of subsidiary or business
During the reporting period, the merger of the enterprises under the same control results in additional subsidiaries
or business, the operation results and cash flow of the subsidiaries or business from beginning to the end of the
reporting shall be included in the consolidated profit statement; also adjust the opening figures of the consolidated
financial statements and the related items in the comparative statements, the consolidated reporting body is
considered to have existed since the point when the ultimate controller began to control it.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
If additional investment and other reasons can lead investee to be controlled under the same control, equity
investments made before obtaining controlling right, relevant gains and losses and other comprehensive income as
well as other changes in net assets confirmed during the latter date between point obtaining original equity and
combined party and combinee under the same control day to the combined day, shall be offset against the retained
earnings or profit or loss of the comparative reporting period.
During the reporting period, if a subsidiary or business is added due to a business combination not under the same
control, it shall be included in the consolidated financial statements on the basis of the fair value of various
identifiable assets, liabilities and contingent liabilities determined on the purchase date.
Equity held from investee before acquisition date shall be measured at fair value of acquisition date if additional
investment and other reasons can lead investee to be controlled under the same control. Difference between the
fair value and the book value is recognized as investment income. Other comprehensive income and other changes
in owner’s equity under the equity method of accounting that can be reclassified to profit or loss at a later date are
transferred to investment income for the period to which they belong at the date of purchase.
(2) Disposal of subsidiaries
① The general approach
If losing controlling right to investee due to disposal of partial equity, the remaining equity after the disposal shall
be re-measured at fair value at the date when control is lost. Price of equity disposal plus fair value of the
remaining equity, then subtracting net assets held from the former subsidiary from the acquisition date or
combination date initially measured in accordance with original stake and goodwill, the difference shall be
included in investment income of the period losing controlling right. Other comprehensive income and other
changes in owner’s equity under the equity method of accounting related to equity investments in former
subsidiaries that can be reclassified to profit or loss in the future are transferred to investment income in the
current period when control is lost.
② Step disposal of subsidiaries
As multiple transactions over disposal of the subsidiary's equity lead to loss of controlling right, if the terms of the
transaction, situation and economic impact subject to one or above of the following conditions, usually it indicates
repeated transactions should be accounted for as a package deal:
i. These transactions are made considering at the same time or in the case of mutual impact;
ii. These transactions only reach a complete business results when as a whole;
iii. A transaction occurs depending on the occurrence of at least one other transaction;
iv. Single transaction is not economical, but considered together with other transactions it is economical.
If each transaction is a package transaction, each transaction is accounted for as a disposal of a subsidiary and loss
of control; before the loss of control the difference between the disposal price and the corresponding net assets of
the subsidiary, recognized as other comprehensive income in the consolidated financial statements, into current
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
profit and loss at current period when losing controlling right.
If each transactions doesn’t form a package deal, equity held from subsidiary shall be accounted in accordance
with relevant rules before losing controlling right, while in accordance with general accounting treatment when
losing controlling right.
(3) Purchase of a minority stake in the subsidiary
Long-term equity investment of the Company for the purchase of minority interests in accordance with the newly
acquired stake in the new calculation shall be entitled to the difference between the net assets from the acquisition
date (or combination date) initially measured between the consolidated balance sheet adjustment capital balance
of the share premium in the capital reserve share premium insufficient, any excess is adjusted to retained earnings.
(4) Disposal of equity in subsidiary without losing control
Disposal price and disposal of long-term equity investment due to partial disposal of subsidiaries and long-term
equity investment made between the relative net assets from the purchase date or the date of merger were initially
measured at the difference between the subsidiary shall enjoy, the consolidated balance sheet adjustment in the
balance of the share premium, capital balance of the share premium insufficient, any excess is adjusted to retained
earnings.
7. Recognition standards for cash and cash equivalents
Cash refers to the cash on hand and cash equivalents of deposits that can be used for payment at any time. Cash
equivalent refers to the investment held by the Company with short maturity and strong liquidity that are easy to
be converted into known amounts with little risk of change in cash value.
8. Foreign currency business and conversion of foreign currency statement
8.1 Foreign currency business
The foreign currency business uses the spot exchange rate on the transaction date as the conversion rate to convert
the foreign currency amount into RMB.
The balance of foreign currency monetary items on the balance sheet date is converted at the spot exchange rate on
the balance sheet date. The resulting exchange differences, except that the balance of exchange generated from the
foreign currency special borrowings related to the assets whose acquisition and construction are eligible for
capitalization is disposed in accordance with the principle of borrowing costs capitalization, are included in the
current profit and loss.
8.2 Conversion of foreign currency financial statements
Assets and liabilities in the balance sheet are converted at the spot exchange rate on the balance sheet date; except
for the “undistributed profit” item, other items of the owner's equity items are converted at the spot exchange rate at
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
the time of occurrence. Income and expense items in the income statement are converted at the spot exchange rate
on the transaction date.
When disposing an overseas operation, the translation difference of the foreign currency financial statements related
to the overseas operation is transferred from the owner's equity items to the disposal of the current profit and loss.
9. Financial instruments
The Company recognizes a financial assets, financial liabilities or equity instrument when it becomes a party to a
financial instrument contract.
9.1 Categories of financial instruments
According to the business model of managing financial assets and the contractual cash flow characteristics of
financial assets, at initial recognition, the Company classifies the financial assets into the financial assets
measured at amortized cost, the financial assets(debt instrument) measured at fair value and whose changes are
included in other comprehensive income, and the financial assets measured at fair value and whose changes are
included in current gain or loss.
The Company classifies the financial assets that meet the following conditions and are not designated to be
measured at fair value and whose changes are recorded into the current gain/losses as financial assets measured at
amortized cost:
－ the business mode is aimed at collecting contractual cash flows；
－ contractual cash flows represent only payments of principal and interest based on the outstanding principal
amount.
The Company classifies the financial assets (debt instruments) that meet the following conditions and are not
specified as measured at fair value and whose changes are recorded into the current gain/losses as financial assets
(debt instruments) measured at fair value and whose changes are recorded into other comprehensive income:
－ the business model is aimed at both the collection of contractual cash flows and the sales of the financial
assets;
－ contractual cash flows represent only payments of principal and interest based on the outstanding principal
amount.
For non-trading equity instrument investment, the Company determines whether it is designated as a financial asset
(equity instrument) measured at fair value and whose changes are included in other comprehensive income at the
initial recognition. The designation is made on a single investment basis and the related investment meet the
definition of an equity instrument from an issuer’s perspective.
Except for the above-mentioned financial assets measured at amortized cost and at fair value with changes
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
included in other comprehensive income, the Company classifies all other financial assets as financial assets
measured at fair value and with changes included in current profits and losses. At the time of initial recognition, if
accounting mismatches can be eliminated or significantly reduced, the Company can irrevocably designate the
financial assets that should be classified as financial assets measured at amortized cost or measured at fair value
and whose changes are included in other comprehensive income as the financial assets measured at fair value and
whose changes are included in the current profit and loss.
In the initial recognition, financial liabilities are classified as the financial liabilities measured at fair value and
whose changes are included in current profit and loss and the financial liabilities measured at amortized cost.
Financial liabilities that meet one of the following conditions can be designated as financial liabilities measured at
fair value and whose changes are included in current profit and loss in the initial measurement:
1) The designation can eliminate or significantly reduce accounting mismatches.
2) According to the enterprise risk management or investment strategy specified in the official written document,
manage and make performance evaluation of the financial liability portfolio or financial assets and financial
liability portfolio based on fair value, and report to the key management personnel based on this.
3) The financial liability includes embedded derivatives that need to be separately split.
9.2 Recognition and measurement for financial instrument
(1) Financial assets measured at amortized cost
Financial assets measured at amortized cost include notes receivable, accounts receivable, other receivables,
long-term receivables, and debt investment, which are initially measured at fair value, and related transaction costs
are included in the initial recognition amount. The accounts receivable not including major financing components
and the accounts receivable that the Company decides not to consider the financing component of not more than one
year are initially measured at the contract transaction price.
Interest calculated by the effective interest method during the holding period is included in the current profit and
loss.
When recovering or disposing, the difference between the price obtained and the book value of the financial asset is
included in the current profit and loss.
(2) Financial assets (debt instruments) measured at fair value and whose changes are included in other
comprehensive income
Financial assets (debt instruments) measured at fair value and whose changes are included in other comprehensive
income, including receivables financing, other debt investment, etc., are initially measured at fair value, and related
transaction expenses are included in the initial recognition amount. The financial assets are subsequently measured
at fair value, the changes in fair value are included in other comprehensive income except for interest, impairment
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
losses or gains and exchange gains and losses calculated by using the effective interest method.
When a financial asset is terminated for recognition, the accumulated gain or loss previously included in other
comprehensive income is transferred from other comprehensive income and included in current profit and loss.
(3) Financial assets (equity instruments) measured at fair value and whose changes are included in other
comprehensive income
Financial assets (equity instruments) measured at fair value and whose changes are included in other comprehensive
income, including other equity instruments, etc., are initially measured at fair value, and related transaction
expenses are included in the initially recognized amount. The financial assets are subsequently measured at fair
value, and changes in fair value are included in other comprehensive income. The dividends obtained are included in
the current profits and losses.
When a financial asset is terminated for recognition, the accumulated gain or loss previously included in other
comprehensive income is transferred from other comprehensive income and included in retained earnings.
(4) Financial assets measured at fair value and whose changes are included in current profit and loss
Financial assets measured at fair value and whose changes are included in current profit and loss, including
Tradable financial assets, derivative financial assets and other non-current financial assets, etc., are initially
measured at fair value, and related transaction expenses are included in the initial recognition amount. The financial
assets are subsequently measured at fair value, and changes in fair value are recognized in current profit and loss.
(5) Financial liabilities measured at fair value and whose changes are included in current profit and loss
Financial liabilities measured at fair value and whose changes are included in current profit and loss, including
transaction financial liabilities, derivative financial liabilities, etc., are initially measured at fair value, and related
transaction expenses are included in current profit and loss. The financial liabilities are subsequently measured at
fair value, and changes in fair value are included in current profit and loss.
When a financial liability is terminate for recognition, the difference between book value and the consideration
paid shall be recorded into the current profit and loss.
(6) Financial liabilities measured at amortized cost
Financial liabilities measured at amortized cost, including short-term borrowings, bills payable, accounts payable,
other payable, long-term borrowings, bonds payable, and long-term payable, are initially measured at fair value, and
related transaction expenses are included in the initial recognition amount.
Interest calculated by the effective interest method during the holding period is included in the current profit and
loss.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
When a financial liability is terminate for recognition, the difference between the consideration paid and the book
value of the financial liability is included in current profit and loss.
9.3 Termination of recognition and transfer of financial assets
If one of the following conditions is satisfied, the Company shall terminate the recognition of financial assets:
－ the contractual rights to receive cash flows from financial assets terminates;
－ the financial asset has been transferred and virtually all the risks and rewards of the ownership of the financial
asset have been transferred to the transferee;
－ the financial assets have been transferred. Although the company has neither transferred nor retained nearly all
the risks and rewards of ownership of the financial assets, it has not retained control of the financial assets
When transfer of financial assets occurs, if substantially all the risks and rewards of ownership of the financial
asset are retained, the recognition of the financial asset shall not be terminated.
When judging whether or not the aforesaid terminal recognition condition for financial assets is arrived at for
transfer of financial assets, the Company generally adopts the principle that substance over weighs format.
The Company divides such transfer into entire transfer and part transfer. As for the entire transfer meeting
condition for discontinued recognition, balance between the following two items is recorded in current gains and
losses:
1) Carrying value of financial assets in transfer;
2) Aggregate of the consideration received from transfer and accumulative movements of fair value originally
recorded in owners’ equity directly (applicable for the financial assets (debt instrument) measured at fair value and
whose changes are recorded into other comprehensive income)
As for the part transfer meeting condition for discontinued recognition, entire carrying value of financial assets in
transfer is shared by discontinued recognition part and continued recognition part, in light of their respective fair
value. Balance between the following two items is recorded in current gains and losses:
1)Carrying value of discontinued recognition part;
2) Aggregate of the consideration of discontinued recognition part and amount of such part attributable to
accumulative movements of fair value originally recorded in owners’ equity directly (applicable when financial
assets involved in transfer belong to financial assets (debt instrument) measured at fair value and whose changes
are included in other comprehensive income).
Financial assets are still subject to recognition if transfer of such assets doesn’t satisfy the condition for
discontinued recognition. And consideration received is recognized as financial liability.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
9.4 Terminating the recognition of financial liability
As for the financial liabilities with its whole or part present obligations released, the company shall terminate the
recognition for such financial liabilities or part of it. if the company enters into agreement with its creditor to
substitute for the existing financial liabilities by means of assuming new financial liabilities, then the company
shall terminate the recognition for the existing financial liabilities and recognized the new financial liabilities
provided that the contract clauses of the new and the existing financial liabilities are different in substance.
If the company makes substantial amendment to the whole or part contract clauses of the existing financial
liabilities, it shall terminate the recognition for the existing financial liabilities or part of it. Meanwhile, the
financial liabilities with amendment to its clauses shall be realized as new financial liabilities.
In case of terminate the recognition of financial liabilities in whole or part, the difference between the carrying
value of such financial liabilities and consideration paid (including the non-cash assets exchanged or new
financial liabilities assumed) shall be recorded in current gains and losses.
In case that the company repurchases part of financial liabilities, based on the comparative fair value of the
continuing recognition part and the derecognizing part, the company shall allocate the carrying value of the
financial liabilities in whole on the repurchase date. Difference between the carrying value allocated to the
derecognizing part and the consideration paid (including the non-cash assets exchanged or new financial liabilities
assumed) shall be recorded in current gains and losses.
9.5 Recognition method for fair value of financial assets and financial liabilities
As for the financial instrument with an active market, the fair value is determined by the offer of the active market;
there is no active market for a financial instrument, the valuation techniques to determine its fair value. At the
time of valuation, the Company adopted applicable in the present case and there is enough available data and
other information technology to support valuation, assets or liabilities of feature selection and market participants
in the trading of the underlying asset or liability considered consistent input value and priority as the relevant
observable inputs. Where relevant observable inputs can not get or do not get as far as practicable, the use of
un-observable inputs.
9.6 Testing of the financial assets impairment and accounting treatment
The Company estimates the expected credit losses of financial assets measured at amortized cost, financial assets
(debt instruments) measured at fair value and whose changes are included in other comprehensive income, and
financial guarantee contracts in a single or combined way.
The Company considers reasonable and well-founded information about past events, current conditions, and
forecasts of future economic conditions, and uses the risk of default as the weight to calculate the
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probability-weighted amount of the present value of the difference between the cash flow receivable from the
contract and the cash flow expected to be received to confirm the expected credit loss.
If the credit risk of the financial instrument has increased significantly since the initial recognition, the Company
measures its loss provision based on the amount equivalent to the expected credit losses for the entire duration of the
financial instrument; if the credit risk of the financial instrument has not increased significantly since the initial
recognition, the Company measures its loss provision based on the amount equivalent to the expected credit losses
of the financial instrument in the next 12 months. The increase or reversal amount of the resulting loss provision is
included in the current profit and loss as an impairment loss or gain.
The Company compares the risk of default on the balance sheet date of financial instruments with the risk of
default on the date of initial recognition to determine the relative change in the risk of default during the expected
life of the financial instrument so as to assess whether the credit risk of the financial instrument has increased
significantly since the initial recognition. Usually, if it s overdue for more than 30 days, the Company shall believe
that the credit risk of the financial instrument has increased significantly, unless there is conclusive evidence that the
credit risk of the financial instrument has not increased significantly since the initial recognition.
If the financial instrument's credit risk at the balance sheet date is low, the Company shall believe that the credit risk
of the financial instrument has not increased significantly since the initial recognition.
If there is objective evidence that a financial asset has suffered credit impairment, the Company shall make
provision for impairment of the financial asset on a single basis.
Regarding the accounts receivable and contract assets formed from transactions regulated by the "Accounting
Standards for Business Enterprises No. 14-Revenue" (2017), regardless of whether it contains a significant
financing component, the Company always measure its loss reserves at the amount equivalent to the expected
credit loss during the entire duration.
For lease receivables, the Company always chooses to measure its loss reserves at an amount equivalent to
expected credit losses during the entire duration.
If the Company no longer reasonably expects whether the contractual cash flow of a financial asset can be
recovered in whole or in part, it will directly write down the book balance of the financial asset.
10. Inventory
10.1 Classification and costs of inventory
Inventory includes raw materials, revolving material, goods in process, goods in transit and work in
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process-outsourced and so on.
Inventory is initially measured at cost, which includes the costs of purchase, processing costs and other
expenditures incurred in bringing the inventories to their present location and condition.
10.2 Valuation methods for delivery of inventory
The weighted average or individual valuation method is used when the inventory is issued according to the nature
of the business.
10.3 Recognition standards of the net realizable value for inventory
On the balance sheet date, inventories shall be measured at the lower of cost and net realizable value. When the
cost of inventories is higher than its net realizable value, make provisions for inventory write-down. The net
realizable value refers to the amount of the estimated selling price of the inventory minus the estimated cost,
estimated selling expenses and related taxes and fees at the time of completion in daily activities.
The net realizable value of inventory products and materials for sale, in normal business production, is measured
as the residual value after deducting the estimated sales expense and related taxes and fees from the estimated
selling price; the net realizable value of an item of inventories subject to further processing, in normal business
production, is measured as the residual value after deducting the sum of the estimated costs of completion, sales
expense and related taxes and fees from the estimated selling price of the for-sale item. The net realizable value of
the quantity of inventories held to satisfy firm sales or service contracts is based on the contract price. If the sales
contracts are for less than the inventory quantities held, the net realizable value of the excess is based on general
selling prices.
After making provisions for inventory write-down, if the factors that previously affected the write-down of the
inventory value have disappeared, causing the net realizable value of the inventory to be higher than its book
value, it shall be reversed within the amount of the inventory write-down that has been withdrawn, and the
reversed amount is included in the current profit and loss.
10.4 Inventory system
Inventory system is the perpetual inventory system.
10.5 Amortization of low-value consumables and packaging materials
(1) Low-value consumables adopts the method of primary resale;
(2) Wrappage adopts the method of primary resale.
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11. Contract asset
11.1 Methods and criteria for recognition of a contract asset
The Company lists contract assets or contract liabilities in the balance sheet based on the relationship between
performance obligations and customer payments. The Company lists the right (and the right depends on other
factors other than the passage of time) to receive consideration for the transfer of goods or services to customers
as contract assets. Contract assets and contract liabilities under the same contract are presented in net amount. The
Company's unconditional (only depending on the passage of time) right to collect consideration from customers
are separately listed as receivables.
11.2 Determination method and accounting treatment method of expected credit loss of contract assets
Found more in the 10.6 Testing of the financial assets impairment and accounting treatment carried under 10.
Financial instrument
12. Contract cost
Contract cost includes contract performance cost and contract acquisition cost.
The cost incurred by the Company for the performance of the contract does not fall within the scope of relevant
standards and norms such as inventory, fixed assets or intangible assets, and shall be recognized as an asset as
contract performance cost when the following conditions are met:
The cost is directly related to a current or anticipated contract.
This cost increases the Company's resources for future performance obligations.
This cost is expected to be recovered.
The incremental cost incurred by the Company to acquire the contract which is expected to be recovered shall be
recognized as an asset as the contract acquisition cost.
Assets related to contract cost are amortized on the same basis as revenue recognition for the goods or services
related to the assets; However, if the amortization period of the contract acquisition cost does not exceed one year,
the Company shall record it into the profit and loss of the current period when it occurs.
If the carrying value of the assets related to the contract cost is higher than the difference between the following
two items, the Company shall make an impairment provision for the excess part and recognize it as an asset
impairment loss:
(1) the remaining consideration expected to be obtained from the transfer of the goods or services related to the
asset;
(2) the cost estimated to occur for the transfer of the relevant goods or services.
If the said difference is higher than the book value of the asset due to the changes in the factors of impairment in the
previous period, the Company shall reverse the original provision for impairment which has been set aside and
record it into the profits and losses of the current period, provided that the book value of the asset after being
reversed shall not exceed the book value of the asset on the date of reversal under the assumption that no impairment
provision is set aside.
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13. Long-term equity investment
13.1 Criteria for judgment of the common control and significant influence
Common control refers to the control that is common to an arrangement in accordance with the relevant
agreement, and the relevant activities of the arrangement must be agreed upon by the participants sharing the
control rights before making a decision. Where the Company and other joint venture parties jointly control the
invested entity and have rights to the net assets of the invested entity, the invested entity is the joint venture of the
Company.
Significant influence refers to the right to participate in making decisions relating to the financial and operational
policies of an enterprise, while not able to control or jointly control (with others) establishment of these policies.
If the Company has significant influence on the invested enterprises, than such invested enterprises shall be the
joint venture of the Company.
13.2 Determination of initial investment cost
(1) Long-term equity investment formed by business combination
For a long-term equity investment in a subsidiary formed by a business combination under the same control, the
initial investment cost of the long-term equity investment is based on the share of the book value of the owner’s
equity of the combined party obtained in the consolidated financial statements of the ultimate controlling party on
the combining date. The difference between the initial investment cost of long-term equity investment and the
book value of the consideration paid shall be used to adjust the equity premium in the capital reserve; when the
equity premium in the capital reserve is insufficient to offset, adjust the retained earnings. If it is possible to
exercise control over an investee under the same control due to additional investment, etc., adjust the equity
premium based on the difference between the initial investment cost of the long-term equity investment confirmed
in accordance with the above principles and the book value of the long-term equity investment before the
combination plus the sum of the book value of the new valuable consideration for the shares obtained on the
combining date, if the equity premium is not enough to offset, offset the retained earnings.
For long-term equity investment in a subsidiaries formed by business combination not under the same control, the
initial investment cost is based on the cost of the combination determined at the date of purchase. If it is possible
to exercise control over an investee not under the same control due to additional investment, the sum of book
value of the equity investment originally held plus the cost of the additional investment is used as the initial
investment cost.
(2) Long-term equity investment required by means other than business combination
For long-term equity investments obtained through payment with cash, then the actual payment shall be viewed as
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initial investment cost.
For long-term equity investments obtained through issuance of equity securities, then the fair value of such
securities shall be viewed as initial investment cost
13.3 Subsequent measurement and recognition of gains and losses
(1) Long-term equity investment measured by cost
The long-term equity investment for subsidiary shall be measured by cost, unless the investment qualities as held
for sale. Other than payment actually paid for obtaining investment or cash dividend or profit included in
consideration which has been declared while not granted yet, the Company recognizes investment income
according to its share in the cash dividend or profit declared for grant by the invested unit.
(2) Long-term equity investment measured by equity
The Company calculates long term equity investment in associates and joint ventures under equity method. Where
the initial investment cost of a long-term equity investment exceeds the Group’s share of the fair value of the
investee’s identifiable net assets at the time of acquisition, no adjustment is made to the initial investment cost.
Where the initial investment cost is less than the Group’s share of the fair value of the investee’s identifiable net
assets at the time of acquisition, the difference is recognized in profit or loss for the period. And adjusted the costs
of long-term equity investment at the same time.
Return on investments and other comprehensive income is recognized respectively by shares of net gains and
losses realized by the invested company and other comprehensive income, and book value of such investment is
adjusted accordingly. Profit or cash dividends pro rata distributed by the invested company are to minus book
value of the relative long-term investment. Book value of long-term investment is adjusted when changes occur
other than net gains and losses, other comprehensive income and profit distribution of the invested company
(abbreviated as other changes of owners’ equity), and is to report in owners’ equity accordingly.
When confirming the share of the net profit and loss, other comprehensive income and other owner’s equity
changes that should be enjoyed by the investee, adjust the net profit and other comprehensive income of the
investee based on the fair value of the investee’s identifiable net assets at the time when the investment is obtained
and in accordance with the company’s accounting policies and accounting period before confirmation.
The un-realized transaction gains/losses attributable to investment enterprise, internally occurred between the
Company, affiliated units and joint-ventures should calculated by proportion of shares-holding which should be
offset, than recognized investment gains/losses(except where the assets invested or sold constitute a business). If
the unrealized internal transaction losses with the investee are assets impairment losses, they will be fully
recognized.
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In addition to assuming obligations for additional losses, the company’s net losses to joint ventures or associates
are limited to the book value of long-term equity investments and other long-term equity that actually constitutes
net investment in joint ventures or associates write down to zero. If a joint venture or an associated enterprise
realizes net profits in the future, the company resumes recognizing its share of profits after the share of profits
makes up for the share of unrecognized losses.
(3) Disposal of long-term equity investment
Difference between carrying value and actual acquisition price in respect of disposal of long term equity
investment shall be included in current period gains and losses.
Long-term equity investment accounted for by equity method
For long-term equity investments accounted for by partial disposition equity method, the remaining equity is still
accounted for by the equity method, the other comprehensive income recognized by the original equity method
shall be carried forward in a corresponding proportion on the same basis as the direct disposal of related assets or
liabilities by the investee, other changes in owner's equity are carried forward to the current profit and loss on a
pro rata basis.
If the joint control or significant influence on the investee is lost due to the disposal of equity investment, for the
other comprehensive income recognized by the original equity investment due to the adoption of the equity
method, use the same basis as the investee to directly dispose of related assets or liabilities for accounting
treatment when terminating the adoption of the equity method, the same basis as the direct disposal of related
assets or liabilities by the investee is used for accounting treatment, all other changes in owner's equity are
transferred to the current profit and loss when terminating the adoption of the equity method.
If the control of the investee is lost due to the disposal of part of the equity investment, and the remaining equity
can exercise joint control or exert significant influence on the investee when preparing individual financial
statements, the equity method shall be used for accounting and the remaining equity shall be deemed to be
accounted for by the equity method for adjustment since the acquisition, and the other comprehensive income
recognized before obtaining the control of the investee is carried forward on the same basis as the direct disposal
of related assets or liabilities by the investee in proportion, changes in other owners’ equity confirmed by the
equity method are carried forward to the current profit and loss on a pro rata basis; if the remaining equity cannot
exercise joint control or exert significant influence on the investee, it shall be recognized as a financial asset, and
the difference between its fair value and book value on the day when the control is lost is included in the current
profit and loss, and all other comprehensive income and other owner's equity changes recognized before obtaining
the control of the investee are carried forward.
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If the equity investment in a subsidiary is disposed of through multiple transactions until it loses control, and it is
a package transaction, each transaction shall be accounted for as a transaction that disposes of the equity
investment of the subsidiary and loses control. The difference between the cost of each disposal before the loss of
control and the book value of the long-term equity investment corresponding to the equity being disposed of is
first recognized as other comprehensive income in individual financial statements, and then transferred to the
current profit and loss of the loss of control when the control is lost. If it is not a package transaction, each
transaction shall be accounted for separately.
14. Investment real estate
Measurement
Measured by cost
Depreciation or amortization method
Investment real estate is defined as the real estate with the purpose to earn rent or capital appreciation or both,
including the rented land use rights and the land use rights which are held and prepared for transfer after
appreciation, the rented buildings (including the buildings for rent after completion of self-construction or
development activities and the buildings under construction or development for future lease).
Subsequent expenditures related to investment real estate are included in the cost of investment real estate when it
is probable that the related economic benefits will flow and the cost can be measured; otherwise, charged to
current gain/loss as incurred.
Current investment real estate of the Company are measured by cost. As for the investment real estate-rental
building measured by cost, the depreciation policy is same as the fixed assets of the Company, the land use right
for rental has the same amortization policy as intangible assets.
15. Fix assets
(1) Recognition
Fixed assets is defined as the tangible assets which are held for the purpose of producing goods, providing
services, lease or for operation & management, and have more than one year of service life. Fixed assets should be
recognized for qualified the followed conditions at the same time:
① It is probable that the economic benefits associated with the assets will flow into the Company;
② The cost of the assets can be measured reliably.
Fixed assets are initially measured at cost (and considering the impact of expected abandonment cost factors).
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Subsequent expenditures related to fixed assets are included in the cost of fixed assets when the related economic
benefits are likely to flow in and their costs can be reliably measured; the book value of the replaced part is
derecognized; all other subsequent expenditures are included in the current profit and loss when incurred.
(2)Depreciation methods
Yearly depreciation
Category Method Years of depreciation Scrap value rate
rate
Straight-line
House and buildings
depreciation
Straight-line
Production buildings 20-35 5.00 2.71-4.75
depreciation
Non-production Straight-line
20-40 5.00 2.38-4.75
buildings depreciation
Temporary dormitory Straight-line
5-15 5.00 6.33-19.00
and simple room etc. depreciation
Straight-line
Gas storage bin 20 5.00 4.75
depreciation
Straight-line
Silo 50 5.00 1.90
depreciation
Wharf and supporting Straight-line
50 5.00 1.90
facilities depreciation
Straight-line
Machinery equipment
depreciation
Other machinery Straight-line
10-20 5.00 4.75-9.50
equipment depreciation
Warehouse
Straight-line
transmission 20 5.00 4.75
depreciation
equipment
Straight-line
Transport equipment 3-10 5.00 9.50-31.67
depreciation
Electronic equipment Straight-line
2-10 5.00 9.50-47.50
and others depreciation
Depreciation of fixed assets is classified and accrued by using the straight-line depreciation, and the depreciation
rate is determined according to the type of fixed assets, the expected service life and the estimated net residual
value rate. For fixed assets with provision for impairment, the amount of depreciation shall be determined in
future periods according to the book value after deducting the provision for impairment and based on the usable
life. If each component of the fixed assets has different service lives or provides economic benefits to the
enterprise in different ways, select different depreciation rates or depreciation methods, and the depreciation is
accrued separately.
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Depreciation policy for fixed assets leased under finance leases is consistent with that for owned fixed assets. If it
is reasonable to be certain that the lessee will obtain the ownership of the leased asset when the lease term expires,
the leased asset shall be fully depreciated over its useful life. If it is not reasonable to be certain that the lessee will
obtain the ownership of the leased asset at the expiry of the lease term, the leased asset shall be fully depreciated
over the shorter one of the lease term or its useful life.
(3) Recognition, measurement and depreciation of fixed assets held under finance lease
If any of the following conditions are stipulated in the lease agreement signed by the Company and the lessee, it
shall be recognized as a financial leased assets:
① ownership of the leased assets shall belong to the Company upon the expiration of the lease term;
② the Company has the option to purchase assets for a purchase price much lower than the fair value of the
assets when the option is exercised;
③the lease period accounts for most of the service life of the leased assets;
④ there is no significant difference between the present value of the minimum lease payment on the lease
commencement date and the fair value of the assets.
⑤ leased assets are special in nature and can only be used by the lessee if no major alterations are made.
On the lease start date, the company regards the lower of the fair value of the leased asset and the present value of
the minimum lease payment as the book value of the leased asset and regards the minimum lease payment amount
as the book value of the long-term payable, and the difference is regarded as unrecognized financing charges.
16. Construction in progress
Construction in progress is measured at the actual cost incurred. The actual cost includes construction cost,
installation cost, borrowing costs that meet the capitalization conditions, and other necessary expenditures
incurred before the construction in progress reaches its intended usable state. When the construction in progress
reaches the intended usable state, it will be transferred to fixed assets and depreciation will be accrued from the
next month.
17. Borrowing expenses
17.1 Recognition of the borrowing expenses capitalization
Borrowing expenses that attributed for purchasing or construction of assets that are complying start to be
capitalized and counted as relevant assets cost; other borrowing expenses, reckoned into current gains and losses
after expenses recognized while occurred.
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Assets satisfying the conditions of capitalization are those assets of fixed, investment real estate etc. which need a
long period of time to purchase, construct, or manufacturing before becoming usable.
17.2 Period of capitalization
Capitalizing period was from the time star capitalizing until the time of suspended capitalization. The period for
borrowing expenses suspended excluded in the period.
Capitalizing for borrowing expenses by satisfying the followed at same time:
(1) Assets expense occurred, and paid as expenses in way of cash, non-cash assets transfer or debt with interest
taken for purchasing, constructing or manufacturing assets that complying with capitalizing condition;
(2) Borrowing expenses have occurred;
(3) Necessary activities occurred for reaching predicted usable statues or sale-able status for assets purchased,
constructed or manufactured.
If purchasing, construction, or manufacturing process of an asset satisfying the conditions of capitalization
reached its predicted usable status or sale-able status, capitalization suspended for borrowing expenses.
17.3 Period of suspended
If purchasing, construction, or manufacturing process of an asset satisfying the conditions of capitalization is
suspended abnormally for over 3 months, capitalizing of borrowing expenses shall be suspended; the suspended
assets that satisfying the conditions of capitalization meets the necessary procedure of reaching predicted usable
status or for-sale status, capitalizing of borrowing expenses shall be resumed. The borrowing expenses occurred
during the period of suspended shall reckon into current gains and losses until the purchasing, construction, or
manufacturing process is resumed for capitalizing.
17.4 Capitalization rate of the borrowing costs, measurement of the capitalized amount
As for the special loans borrowed for the purchase, construction or production of assets eligible for capitalization,
the borrowing costs are capitalized by deducting the actual borrowing costs incurred in current period of special
borrowing, the interest income earned by borrowing funds that have not ye been used, deposited in the bank or the
investment income obtained from the temporary investment.
For the general borrowings used for the acquisition, construction or production of assets eligible for capitalization,
the amount of borrowing costs that should be capitalized for general borrowings is calculated and determined
according to the weighted average of the asset expenditures of accumulated asset expenditures over the special
borrowings multiplying by the capitalization rate of the occupied general borrowings. The capitalization rate is
determined based on the weighted average interest rate of general borrowings.
During the capitalization period, the exchange difference of the principal and interest of the specialized foreign
currency borrowing is capitalized and included in the cost of the assets that meet the capitalization conditions.
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Exchange differences arising from the principal and interest of foreign currency borrowings other than specialized
foreign currency borrowing are included in the current profits and losses.
18. Biological assets
18.1The Company's biological assets are productive biological assets, which are classified into productive
biological assets, consumptive biological assets and biological assets for commonweal according to the purpose of
holding and the way in which economic benefits are realized.
18.2 Biological assets are initially measured at cost
18.3 The necessary expenditures incurred by productive biological assets before reaching the intended production
and operation purposes constitute the cost of the productive biological assets. Subsequent expenditures incurred
after achieving the intended production purposes shall be included in the current profit and loss.
18.4 The necessary expenditures for consumptive biological assets before closure constitute the cost of
consumptive biological assets, and subsequent expenditures incurred after closure are included in the current
profit and loss. The cost of consumptive biological assets shall be carried forward according to the growing stock
volume ratio method when harvesting.
18.5 The Company’s biological assets are mainly tea trees. The company’s productive biological assets that
achieve the intended production and operation purposes are depreciated according to the average service life
method, and the service life is determined as the remaining period of land use after deducting the immature tea
tree period (5 years), the residual value rate is 5.00%. At the end of each year, the company reviews the service
life, expected net residual value and depreciation methods. If the service life and expected net output value are
different from the original estimate, or there is a significant change in the realization of economic benefits, it will
be used as an accounting estimate change to adjust the service life or estimated net output value or change the
depreciation method.
18.6 Biological assets for commonweal refer to biological assets whose main purpose is protection and
environmental protection, including wind-breaking and sand-fixing forests, soil and water conservation forests,
and water conservation forests.
The cost of self-constructed biological assets for commonweal shall be determined in accordance with the
necessary expenditures such as cost of planting, tending fees, forest protection fees, forest culture and management
facility fees, improved seed experiment fees, survey design fees, and indirect costs that should be apportioned
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before the closure, including borrowing costs that meet the conditions for capitalization.
Biological assets for commonweal are subsequently measured at cost. There is no need to withdraw the asset
impairment reserve for biological assets for commonweal.
18.7 The balance of the disposal consideration from the sale, inventory loss, death or damage of biological assets
after deducting the book value and relevant taxes shall be included in the current profit and loss.
19. Right-of-use assets
On the commencement date of the lease term, the Company recognizes the right -of-use assets for leases other than short-term
leases and low-value asset leases. The right-of-use assets shall be initially measured at cost. The cost includes:
The initial measurement amount of lease liabilities;
Where the lease payments paid on or before the commencement date of the lease term have a lease incentive, the
amount of the lease incentive already enjoyed shall be deducted;
Initial direct costs incurred by the Company;
Costs expected to be incurred by the Company to dismantle and remove the leased assets, restore the sites where
the leased assets locate or restore the leased assets to the state agreed upon in the lease terms, excluding costs
incurred for the production of inventory.
The Company shall subsequently use the straight-line method to calculate the depreciation of the right-of-use
assets. Where ownership of the leased asset can be reasonably determined at the end of the lease term, the
Company shall calculate the depreciation during the remaining useful life of the leased asset; Otherwise, the
depreciation of the leased asset is calculated during the period which is shorter between the lease term and the
remaining useful life of the leased asset.
The Company determines whether the right-of-use asset impairment has occurred in accordance with the
principles described in the Notes "21. Impairment of Long-term Assets", and makes accounting treatment for the
identified impairment loss.
20. Intangible assets
(1) Measurement, use of life and impairment testing
1) Measurement
i-Initial measurement is made at cost when the Company acquires intangible assets;
For those intangible assets purchased from outside, the purchase value, relevant taxes and other payments
attributable to predicted purpose obtained should recognized as cost for this assets.
ⅱ-Subsequent measurement
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Analyzing and judging the service life of an intangible asset when they are acquired.
Those intangible assets with limited useful life are evenly amortized on straight basis from the date when
they become usable to the end of expected useful life;Intangible assets for which it is impossible to predict the
term during which the assets can bring in economic benefits are viewed as intangible assets with indefinite life
without amortization.
2）Estimation of the service life of intangible assets with limited service life
Residual
Item Predicted useful life Amortization method Basis
value rate
Amortized the actual rest of life after Straight-line method 0.00% Certificate of land use
Land use right
certificate of land use right obtained right
Forest tree use right Service life arranged Straight-line method 0.00% Protocol agreement
Straight-line method 0.00% Actual situation of the
Trademark use right 10-year
Company
Shop management right Service life arranged Straight-line method 0.00% Protocol agreement
Software use right 5-8 years Straight-line method 0.00% Protocol agreement
Straight-line method 0.00% Actual situation of the
Patents and others 20-year
Company
3) Judgment basis on intangible assets with uncertain service life and review procedures for the service life
Intangible assets for which it is impossible to predict the term during which the assets can bring in
economic benefits are viewed as intangible assets with indefinite life. Intangible assets with indefinite life are
not amortized during the holding period, and useful life is re-reviewed at the end of each accounting period. In
case that it is still determined as indefinite after such re-review, then impairment test will be conducted
continuously in every accounting period.
(2)Accounting policy of the internal R&D expenditure
1)Specific criteria for dividing research and development stages
The expenditure for internal R&D is divided into research expenditure and development expenditure.
Research stage: stage of the investigation and research activities exercising innovative-ness for new science or
technology knowledge obtained and understanding.
Development stage: stage of the activities that produced new or material advance materials, devices and products
that by research results or other knowledge adoption in certain plan or design before the commercial production or
usage.
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Expenditures incurred during the research phase of internal R&D projects shall be recorded into the current profit
and loss when incurred.
2) Standards for capitalization satisfaction of expenditure in development state
Expenditures in the research phase are included in the current profit and loss when they occur. Expenditures in the
development phase that meet the following conditions at the same time are recognized as intangible assets, and
expenditures in the development phase that cannot meet the following conditions are included in the current profit
and loss:
① Owes feasibility in technology and completed the intangible assets for useful or for sale;
② Owes the intention for completed the intangible assets and for sale purpose;
③ Way of profit generated including: show evidence that the products generated from the intangible assets owes
a market or owes a market for itself; if the intangible assets will use internally, than show evidence of useful-ness;
④ Possess sufficient technique, financial resources and other resources for the development of kind of intangible
assets and has the ability for used or for sale;
⑤ The expenditure attributable to the exploitation stage for intangible assets could be measured reliably.
If it is not possible to distinguish between research stage expenditures and development stage expenditures, all
research and development expenditures incurred are charged to current gain/loss.
Expenditure happened in development phase not satisfying the above conditions is included in current period
gains and losses when occurs. Development expenditure previously included in gains and losses in previous
periods will not be re-recognized as assets in later periods. Capitalized development expenditure is stated in
balance sheet as development expenditure, and is transferred to intangible assets when the project is ready for
planned use.
21. Impairment of long term assets
The long-term assets as long-term equity investments, investment real estate measured at cost, fixed assets,
construction in progress, right-of-use assets, intangible assets with certain service life and oil & gas assets are
tested for impairment if there is any indication that an asset may be impaired at the balance date. If the result of
the impairment test indicates that the recoverable amount of the asset is less than its carrying amount, a provision
for impairment and an impairment loss are recognized for the amount by which the asset’s carrying amount
exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and
the present value of the future cash flows expected to be derived from the asset. Provision for asset impairment is
determined and recognized on the individual asset basis. If it is not possible to estimate the recoverable amount of
an individual asset, the recoverable amount of a group of assets to which the asset belongs is determined. A group
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of assets is the smallest group of assets that is able to generate independent cash inflows.
For goodwill formed by business combination, intangible assets with uncertain service life, and intangible assets
that have not yet reached the usable state, regardless of whether there are signs of impairment, impairment test
shall be carried out at least at the end of each year.
When the Company conducts the goodwill impairment test, the book value of goodwill formed by business
combination is apportioned to the relevant asset group according to reasonable methods from the date of purchase; if
it is difficult to apportion it to the relevant asset group, apportion it to the relevant asset group portfolio. Relevant
asset group or assets portfolio is the asset group or combination of assets group that can benefit from the synergies
of the enterprise merger.
When conducting impairment test for relevant asset group with inclusion of goodwill, in case that there is
indication of impairment for such asset group, impairment test would be firstly conducted in respect of the asset
groups without inclusion of goodwill. Then, it shall calculate the recoverable amount and determine the
corresponding impairment loss as compared to its carrying value. Then conduct an impairment test on the asset
group or asset group portfolios containing goodwill, and compare their book value with the recoverable amount. If
the recoverable amount is lower than the book value, the amount of impairment loss first deducts the book value
of the goodwill allocated to the asset group or asset group portfolio, and then deducts the book value of the other
assets in proportion according to the proportion of the book value of the other assets other than goodwill in the
asset group or asset group portfolio. Once recognized, asset impairment loss would not be reversed in future
accounting period.
22. Long term prepaid expense
Long term prepaid expense represents the expense which the Company has occurred and shall be amortized in the
current and later periods with amortization period exceeding one year. Long-term prepaid expenses of the
Company includes expenditures on improvement of investment real estate, decoration fee and expenditure for
fixed assets improvement etc. Long term prepaid expense is amortized during the beneficial period under straight
line method.
23. Contract liabilities
The Company lists contract assets or contract liabilities in the balance sheet based on the relationship between
performance obligations and customer payments. The Company's obligation to transfer goods or provide services
to customers for consideration received or receivable from customers is listed as contract liabilities. Contract
assets and contract liabilities under the same contract are presented in net amount.
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24. Staff remuneration
(1)Accounting treatment of short term remuneration
In the period of employee services, short-term benefits are actually recognized as liabilities and charged to profit
or loss or relevant assets costs.
Regarding to the social insurance and housing funds that the Company paid for employees, the Company should
recognize corresponding employees benefits payable according to the appropriation basis and proportion as
stipulated by relevant requirements and recognize the corresponding liabilities.
The employee welfare expenses incurred shall be recorded into the current gain/loss or the cost of relevant assets
according to the actual amount when actually incurred, and the non-monetary welfare shall be measured at fair
value.
(2)Accounting treatment for post employment benefits
1)Defined contribution plan
The Company pays basic endowment insurance and unemployment insurance for employees according to the
relevant regulations of the local government. In the accounting period in which employees provide services for the
Company, the amount to be paid is calculated according to the local payment base and proportion, and is
recognized as a liability and included in current profit and loss or related asset cost. In addition, the Company also
participates in the enterprise annuity plan/supplementary pension insurance fund approved by the relevant state
departments. The Company pays a certain percentage of the total wages of employees to the annuity plan/local
social insurance agency, and the corresponding expenditures are included in the current profit and loss or the cost
of related asset.
2)Defined benefit plan
The Company assigns the benefit obligation arising from the defined benefit plan to the period during which the
employee provides service according to the formula determined by the expected accumulated benefit unit method,
and includes it in the current profit and loss or related asset cost.
The deficit or surplus formed by the present value of the defined benefit plan obligation minus the fair value of the
defined benefit plan asset is recognized as a net benefit or net asset of the defined benefit plan. If there is a surplus in
the defined benefit plan, the Company measures the net assets of the defined benefit plan by the lower of the surplus
and the asset limit of the defined benefit plan.
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All defined benefit plan obligations, including obligations expected to be paid within twelve months of the end of
the annual reporting period in which the employee provides services, are discounted based on the market return of
the national debt matching with the defined benefit plan obligations deadline and currency or the high quality
corporation bonds in an active market on the balance sheet date.
The service cost generated by the defined benefit plan and the net liabilities or the net interest of the net assets of the
defined benefit plan are included in the current profit and loss or the related assets cost; the changes generated by the
remeasurement of net liabilities or net assets of the defined benefit plan are included in other comprehensive income,
and will not be transferred back to profit or loss in the subsequent accounting period, when the original defined
benefit plan is terminated, the part that was originally included in other comprehensive income will be carried
forward to undistributed profit within the scope of equity.
When settling the defined benefit plan, the settlement gain or loss is confirmed by the difference between the present
value of the defined benefit plan obligation and the settlement price determined on the settlement date.
3)Accounting treatment for dismissal benefit
If the Company provides dismissal benefits to employees, the employee compensation liabilities arising from
dismissal benefits shall be recognized on the earlier date of the following two, and shall be included in the current
profit and loss: When the company cannot unilaterally withdraw the dismissal benefits provided by the dismissal
plan or downsizing proposal; When the company confirms the costs or expenses related to the reorganization
involving the payment of dismissal benefits.
4)Accounting treatment for other long term staff benefits
Other long term staff benefits refers to all the other staff benefits except for short term remuneration, post office
benefit and dismissal benefit.
For other long term staff benefits satisfying conditions under defined withdraw plan, the contribution payables
shall be recognized as liabilities and included in current gains and losses or relevant asset cost during the
accounting period in which the staff provides services to the Company.
25. Accrual liability
The Company will recognize the obligations related to contingencies as expected liabilities when they meet the
following conditions:
(1)The responsibility is a current responsibility undertaken by the Company;
(2)Fulfilling of the responsibility may lead to financial benefit outflow;
(3)The responsibility can be measured reliably for its value.
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Accrual liabilities shall conduct initial measurement by best estimation of expenditures needed by
fulfillment of current responsibilities.
While determined the best estimation, take the risks, uncertainty and periodic value of currency that connected
to the contingent issues into consideration. For major influence from periodic value of currency, determined best
estimation after discount on future relevant cash out-flow.
Where there is a continuous range of required expenditures, and the probability of occurrence of various results within this range is
the same, the best estimate is determined according to the median value in the range; in other cases, the best estimate shall be
treated as follows:
If a contingency involves a single item, it shall be determined according to the amount most likely to occur.
If a contingency involves multiple items, it shall be determined in accordance with various possible outcomes
and related probability calculation.
If all or part of the expenditure required to pay off the estimated liabilities is expected to be compensated by a
third party, the compensation amount shall be separately recognized as an asset when it is basically certain that it
can be received, and the recognized compensation amount shall not exceed the book value of the estimated
liability.
The Company reviews the book value of estimated liabilities on the balance sheet date. If there is conclusive
evidence that the book value does not reflect the current best estimate, the book value will be adjusted according
to the current best estimate.
26. Other financial instrument of preferred stocks and perpetual bond
The Company categorizes a financial instrument or its components as a financial asset, a financial liability or an
equity instrument at the time of initial recognition based on the contractual terms of preferred stocks/perpetual
bonds issued and the economic substance it reflects, not just in legal form.
When a financial instrument such as perpetual bonds/preferred stocks issued by the Company meet one of the
following conditions, the entire financial instrument or its components shall be classified as a financial liability at
the time of initial recognition.
(1) There are contractual obligations that the Company cannot unconditionally avoid fulfilling with the cash
payment or other financial assets;
(2) Contains contractual obligation to deliver variable amounts of own equity instruments for settlement;
(3) Contains derivative instrument that is settled with its own equity (such as conversion of equity, etc.), and the
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derivative instrument is not settled with a fixed amount of their own equity instruments in exchange for a fixed
amount of cash or other financial assets;
(4) There are contract clauses that indirectly form contract obligations;
(5) The perpetual bonds are in the same repayment order as the ordinary bonds and other debts issued by the
issuer at the time of liquidation by the issuer.
For financial instruments such as perpetual bonds/preferred stocks that do not meet any of the above conditions,
classify the financial instruments as a whole or their components as equity instruments at the time of initial
recognition.
27. Revenue
Accounting policy used for revenue recognition and measurement
27.1 accounting policy applicable for the revenue recognition and measurement
The Company fulfills the performance obligations in the contract, that is, revenue is recognized when the
customer obtains control of the relevant goods or services. Obtaining control of related goods or services means
being able to lead the use of the goods or services and obtain almost all of the economic benefits from them.
If the contract contains two or more performance obligations, the Company will allocate the transaction price to
each individual performance obligation in accordance with the relative proportion of the stand-alone selling price
of the goods or services promised by each individual performance obligation on the starting date of the contract.
The Company measures revenue based on the transaction price allocated to each individual performance
obligation.
The transaction price refers to the amount of consideration that the Company expects to be entitled to receive due
to the transfer of goods or services to customers, excluding payments collected on behalf of third parties and
payments expected to be returned to customers. The Company determines the transaction price in accordance with
the terms of the contract and combined with its past customary practices, when determining the transaction price,
it considers the influence of variable consideration, major financing components in the contract, non-cash
consideration, consideration payable to customers and other factors. The Company determines the transaction
price that includes variable consideration at an amount that does not exceed the amount of accumulated
recognized revenue that is unlikely to be materially reversed when the relevant uncertainty is eliminated. If there
is a significant financing component in the contract, the Company determines the transaction price based on the
amount payable in cash when the customer obtains control of the goods or services, and uses the actual interest
method to amortize the difference between the transaction price and the contract consideration during the contract
period.
It belongs to the performance obligation fulfilled within a certain period of time when meeting one of the
following conditions, otherwise it belongs to the performance obligation fulfilled at a certain point in time:
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The customer obtains and consumes the economic benefits brought by the Company's performance at the same
time as the Company's performance.
Customers can control the products under construction in the Company's performance process.
The products produced by the Company during the performance of the contract have irreplaceable uses, and the
Company has the right to collect payment for the accumulated performance part of the contract during the entire
contract period.
For performance obligations performed within a certain period of time, the Company recognizes revenue
according to the performance progress during that period, except where the performance progress cannot be
reasonably determined. The Company considers the nature of the goods or services and adopts the output method
or the input method to determine the progress of performance. When the performance progress cannot be
reasonably determined, and the costs incurred are expected to be compensated, the Company shall recognize the
revenue according to the amount of the costs incurred until the performance progress can be reasonably
determined.
For performance obligations performed at a certain point in time, the Company recognizes revenue at the point
when the customer obtains control of the relevant goods or services. When judging whether a customer has
obtained control of goods or services, the Company considers the following signs:
The Company has the current right to collect payment for the goods or services, that is, the customer has the
current payment obligation for the goods or services.
The Company has transferred the legal ownership of the goods to the customer, that is, the customer has the legal
ownership of the goods.
The Company has transferred the goods to the customer in kind, that is, the customer has taken possession of the
goods in kind.
The Company has transferred the main risks and rewards of the ownership of the goods to the customer, that is,
the customer has obtained the main risks and rewards of the ownership of the goods.
The customer has accepted the goods or services, etc.
27.2 Specific principle
1) Revenue from sales of goods: the sales revenue is recognized after the goods sold domestically have been
delivered and the relevant terms agreed in the contract are met; for export sales, the realization of sales revenue is
confirmed after the goods have been dispatched and declared in compliance with the relevant terms as agreed in
the contract. For export sales, the sales revenue is recognized after the goods have been sent and declared and the
relevant terms agreed in the contract are met.
2) Revenue from provision of labor services: For the dynamic reserve of grain and oil and its rotation services
provided by the Company to the Shenzhen Municipal Government, the revenue is recognized when relevant labor
services occur, the revenue from grain and oil reserve services is calculated and confirmed monthly based on the
actual amount of grain and oil reserves and the reserve price stipulated in the "Shenzhen Municipal Government
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Grain Reserve Expenses Contract Operation Regulations" and the "Shenzhen Municipal Government Edible
Vegetable Oil Government Reserve Expenses Contract Operation Regulations".
3) Other income:
i-The amount of royalty revenue is calculated and determined in accordance with the charging time and method
agreed in the relevant contract or agreement;
ii- Income from real estate, terminal warehouse and other property leasing and terminal docking business is
calculated and recognized as the property rental income, warehousing and logistics income.
Differences in accounting policies for revenue recognition due to the different operating models for the same types of business
28. Government subsidy
28.1 Types
Governments subsidy of the Company refer to the monetary and non-monetary assets obtained from government
for free, and are divided into those related to assets and others related to revenues.
Government subsidy related to assets refer to those obtained by the Company and used for purchase or
construction of or otherwise to form long-term assets. Government subsidies related to revenue refer to those other
than government subsidies related to assets.
Specific criteria for classifying the government subsidy as asset-related by the Company are: government subsidy
acquired for the acquisition and construction or other formation of long-term assets
Specific criteria for classifying the government subsidy as income-related by the Company are: government
subsidy obtained by the Company other than those related to assets.
28.2 Recognition time point
At end of the period, if there is evidence show that the Company qualified relevant condition of fiscal supporting
polices and such supporting funds are predicted to obtained, than recognized the amount receivable as government
subsidy. After that, government subsidy shall recognize while actually received.
Government subsidy in the form of monetary assets are stated at the amount received or receivable. Government
subsidy in the form of non-monetary assets are measured at fair value; if fair value cannot be obtained, a nominal
amount (one yuan) is used. Government subsidy measured at nominal amount is recognized immediately in profit
or loss for the current period.
28.3 Accounting treatment
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Based on the nature of economic business, the Company determines whether a certain type of government subsidy
business should be accounted for by using the total amount method or the net amount method. In general, the
Company only chooses one method for similar or similar government subsidy services, and this method is
consistently applied to the business.
Item Calculation content
Based on gross method All business of government subsidy
Government subsidy related to assets is used to offset the book value of related assets or be recognized as deferred
income. If it is confirmed as deferred income, it shall be included in the current profit and loss in a reasonable and
systematic way by stages within the useful life of the relevant assets (those related to the Company’s daily
activities are included in other income; those unrelated to the Company’s daily activities are included in the
non-operating income);
Government subsidy related to income that is used to compensate the Company's related costs or losses in
subsequent periods is recognized as deferred income, and is included in the current profit and loss during the period
when the related costs or losses are recognized (those related to the Company’s daily activities are included in other
income; those unrelated to the Company’s daily activities are included in the non-operating income) or used to
offset related costs or losses; those used to compensate the Company’s related costs, expenses or losses are directly
included in the current profit and loss (those related to the Company’s daily activities are included in other income;
those unrelated to the Company’s daily activities are included in the non-operating income) or used to offset
related costs or losses.
The policy-related preferential loan interest discounts obtained by the Company shall be accounted for separately
in the following two situations:
(1)The finance allocates interest discount funds to the lending bank. If the lending bank provides loans to the
Company at a policy-based preferential interest rate, the Company will use the actually received loan amount as
the entry value of the loan, and calculate related borrowing costs according to the loan principal and the
policy-based preferential interest rate.
(2) If the finance directly allocates interest discount funds to the Company, the Company will write down the
relevant borrowing costs with the corresponding interest discount.
29. Deferred income tax assets and deferred income tax liabilities
Income tax includes current income tax and deferred income tax. Except for income tax arising from business mergers and
transactions or events that are directly included in owner's equity (including other comprehensive income), the Company include
current income tax and deferred income tax in current profit and loss.
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Deferred income tax assets and deferred income tax liabilities are calculated and recognized based on the
difference (temporary difference) between the tax base of assets and liabilities and their book value.
Deductible temporary differences recognized by deferred income tax assets is limited to the taxable income that is
likely to be obtained in the future to deduct deductible temporary differences. For the deductible losses and tax
deductions that can be carried forward for subsequent years are limited to the future taxable income that is likely
to be obtained to deduct deductible and tax deductions.
For taxable temporary differences, except for special circumstances, deferred income tax liabilities are recognized.
Special circumstances that do not recognize deferred income tax assets or deferred income tax liabilities include:
Initial recognition of goodwill;
Transactions or events that neither are a business combination nor affect accounting profits and taxable income
(or deductible losses) when occur.
For taxable temporary differences related to investments in subsidiaries, associates and joint ventures, deferred
income tax liabilities are recognized, unless the Company can control the timing of the reversal of the temporary
differences and the temporary differences are not likely to be reversed in the foreseeable future. For deductible
temporary differences related to investments in subsidiaries, associates and joint ventures, when the temporary
differences are likely to be reversed in the foreseeable future and are likely to be used to deduct the taxable
income of deductible temporary differences in the future, recognize deferred income tax assets.
On the balance sheet date, deferred income tax assets and deferred income tax liabilities are measured at the
applicable tax rate during the period when the relevant assets are expected to be recovered or the relevant
liabilities are expected to be paid off in accordance with the provisions of the tax law.
On the balance sheet date, the Company reviews the book value of deferred income tax assets. If it is probable that
sufficient taxable income cannot be obtained in the future to offset the benefits of deferred income tax assets, the
book value of the deferred income tax assets shall be written down. When it is possible to obtain sufficient taxable
income, the write-down amount shall be reversed.
When there is a statutory right to settle on a net basis, and an intention to settle on a net basis or acquire assets and
pay off liabilities at the same time, the current income tax assets and current income tax liabilities are presented at
the net amount after offsetting.
On the balance sheet date, deferred income tax assets and deferred income tax liabilities shall be listed as the net
amount after offset when the following conditions are met at the same time:
The tax subject has the statutory right to settle current income tax assets and current income tax liabilities on a
net basis;
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Income tax assets and deferred income tax liabilities are related to the income tax levied by the same tax
administration department on the same taxation subject or related to different taxation subjects, however, in the
period during which each important deferred income tax asset and liability are reversed in the future, the taxpayer
involved intends to settle the current income tax assets and liabilities on a net basis or obtain assets and settle
liabilities at the same time.
30. Lease
(1)Accounting treatment for operating lease
Accounting policy since 1 Jan. 2021
A lease is a contract whereby the lessor transfers the right to the use of an asset to the lessee for a certain period of
time in exchange for consideration. On the commencement date of the contract, the Company evaluates whether
the contract is a lease or includes a lease. A contract is a lease or includes a lease if one party transfers the right to
control the use of one or more identified assets for a certain period of time in exchange for consideration.
If the contract contains multiple separate leases at the same time, the Company will divide the contract and make
accounting treatment for each separate lease. If the contract contains both leasing and non-leasing parts, the lessee
and lessor shall divide the leasing and non-leasing parts.
30.1. The Company acts as the lessee
(1) Right-of-use assets
On the commencement date of the lease term, the Company recognizes the right-of-use assets for leases other than
short-term leases and low-value asset leases. The right-of-use assets shall be initially measured at cost. The cost
includes:
The initial measurement amount of lease liabilities;
Where the lease payments paid on or before the commencement date of the lease term have a lease incentive, the
amount of the lease incentive already enjoyed shall be deducted;
Initial direct costs incurred by the Company;
Costs expected to be incurred by the Company to dismantle and remove the leased assets, restore the sites where
the leased assets locate or restore the leased assets to the state agreed upon in the lease terms, excluding costs
incurred for the production of inventory.
The Company shall subsequently use the straight-line method to calculate the depreciation of the right-of-use
assets. Where ownership of the leased asset can be reasonably determined at the end of the lease term, the
Company shall calculate the depreciation during the remaining useful life of the leased asset; Otherwise, the
depreciation of the leased asset is calculated during the period which is shorter between the lease term and the
remaining useful life of the leased asset.
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The Company determines whether the right-of-use asset impairment has occurred in accordance with the
principles described in the Notes "21. Impairment of Long-term Assets", and makes accounting treatment for the
identified impairment loss.
(2) Lease liabilities
On the commencement date of the lease term, the Company recognizes the lease liabilities for leases other than
short-term leases and low-value asset leases. Lease liabilities are initially measured at the present value of
outstanding lease payments. The lease payments include:
Where there is a lease incentive in the fixed payments (including the substantive fixed payments), deduct the lease
incentive;
Variable lease payments depending on the index or ratio;
The payments estimated to be paid according to the guaranteed residual value provided by the company;
The executive price of the call option provided that the company reasonably determines that the option will be
exercised;
The payments payable to exercise the termination of lease option provided that the lease term reflects that the
company shall exercise the termination of lease option.
The Company uses the interest rate implicit in lease as the discount rate, but if the interest rate implicit in lease
cannot be reasonably determined, the Company's incremental borrowing rate shall be used as the discount rate.
The Company calculates the interest expense of the lease liability in each period of the lease term at a fixed
periodic rate and records it into the current profits and losses or the cost of underlying asset.
The variable lease payments not included in the measurement of lease liabilities are booked into the profits and
losses of the current period or the cost of related assets when actually incurred.
After the commencement date of the lease term, if any of the following circumstances occurs, the Company shall
re-measure the lease liabilities and adjust the corresponding right-of-use assets. If the book value of the
right-of-use assets has been reduced to zero, but the lease liabilities still need to be further reduced, the difference
shall be recorded into the profits and losses of the current period.
If the evaluation results of the call option, the lease renewal option or the termination option changes, or the actual
exercise of the said option is inconsistent with the original evaluation results, the Company shall remeasure the
lease liability at the present value calculated by the changed lease payment and the revised discount rate;
In the event of a change in the substantive fixed payment, a change in the amount expected to be payable for the
guaranteed residual value, or a change in the index or ratio used to determine the lease payment, the Company
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shall remeasure the lease liability according to the present value calculated by the changed lease payment and the
original discount rate. However, where changes in lease payments result from changes in floating interest rates,
the present value is calculated by using the revised discount rate.
(3) Short-term leases and low-value asset leases
The Company chooses not to recognize the right-of-use assets and lease liabilities for short-term leases and
low-value asset leases, and records the relevant lease payments into the current profits and losses or related asset
costs in accordance with the straight-line method for each period of the lease term. A short-term lease is a lease
not exceeding 12 months and excluding the call option on the commencement date of the lease term. The
low-value asset lease refers to a lease with a lower value when a single leased asset is a new asset. Where the
company subleases or expects to sublease the leased asset, the original lease is not a low-value asset lease.
(4) Lease change
If the lease changes and meets the following conditions at the same time, the Company will treat the lease change
as a separate lease for accounting treatment:
The lease change expands the lease scope by increasing one or more right of use of the leased assets;
The increased consideration and the separate price for the extension portion of the lease shall be equivalent to the
amount adjusted according to the contract.
If the lease change is not regarded as a separate lease for accounting treatment, the company shall, on the effective
date of the lease change, reapportion the consideration of the contract after the change, redetermine the lease term,
and remeasure the lease liabilities according to the present value calculated by the changed lease payments and the
revised discount rate.
If the lease change results in the narrowing of the lease scope or the shortening of the lease term, the Company
shall adjust the book value of the right-of-use assets accordingly, and record the profits or losses related to partial
or complete termination of lease into the profits and losses of the current period. The Company shall adjust the
book value of the right-of-use assets accordingly if the lease liabilities are remeasured due to other lease changes.
30.2 The Company acts as the lessor
On the commencement date of the lease, the lease receipts of operating lease are recognized as rental income in
accordance with the straight-line method for each period of the lease term. The Company capitalizes the initial
direct costs incurred in connection with the operating lease and appoints them into the current profits and losses
on the same basis as the rental income recognition during the lease term. Variable lease payments not included in
lease receipts are recorded in the current profits and losses when they actually occur. If the operating lease
changes, the Company shall treat it as a new lease for accounting treatment as of the effective date of the change,
and the lease receipts collected in advance or receivable related to the lease before change shall be regarded as the
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receipts of the new lease.
Accounting policy before 1 Jan. 2021
1)The rental fee paid for renting the properties by the company are amortized by the straight-line method and
reckoned in the current expenses throughout the lease term without deducting rent-free period. The initial direct
costs related to the lease transactions paid by the company are reckoned in the current expenses.
When the lessor undertakes the expenses related to the lease that should be undertaken by the company, the
company shall deduct the expenses from the total rental costs, share by the deducted rental costs during the lease
term, and reckon in the current expenses.
2)Rental obtained from assets leasing, during the whole leasing period without rent-free period excluded, shall be
amortized by straight-line method and recognized as leasing revenue. The initial direct costs paid with leasing
transaction concerned are reckoned into current expenditure; the amount is larger is capitalized when incurred,
and accounted for as profit or loss for the current period on the same basis as recognition of rental income over the
entire lease period.
When the company undertakes the expenses related to the lease that should be undertaken by the lessor, the
company shall deduct the expenses from the total rental income, and distribute by the deducted rental costs during
the lease term.
(2)Accounting treatment for financing lease
Accounting policy since 1 Jan. 2021
On the commencement date of the lease, the Company recognizes the finance lease receivable for the finance
lease and terminates the recognition of the finance lease assets. In the initial measurement of the finance lease
receivable, the Company shall take the net lease investment as the entry value of the finance lease receivable. The
net lease investment is the sum of the unguaranteed residual value and the present value of the lease receipts not
yet received at the commencement date of the lease term and discounted at the interest rate implicit in lease.
The Company calculates and recognizes the interest income for each period of the lease term at a fixed periodic
interest rate. The accounting treatment for the termination of recognition and the impairment of the finance lease
is conducted in accordance with the Notes "9. Financial Instruments".
Variable lease payments not included in the measurement of net lease investment are recorded in the current
profits and losses when they actually occur.
If the finance lease changes and meets the following conditions at the same time, the Company will treat the
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change as a separate lease for accounting treatment:
The change expands the lease scope by increasing one or more right of use of the leased assets;
The increased consideration and the separate price for the extension portion of the lease shall be equivalent to the
amount adjusted according to the contract.
If the change of finance lease is not regarded as a separate lease for accounting treatment, the Company will
treat the changed lease as follows:
If the change takes effective on the commencement date of the lease, the lease will be classified as an operating
lease, and the Company will take it as a new lease for accounting treatment as of the effective date of the lease
change, and take the net lease investment before the effective date of the lease change as the book value of the
leased asset;
If the change takes effective on the commencement date of the lease, the lease will be classified as a finance lease,
and the Company will comply with the policies on modification or renegotiation of contract in Notes "9. Financial
Instruments" for accounting treatment.
Accounting policy before 1 Jan. 2021
(1)Assets lease-in by financing: On the beginning date of the lease, the entry value of leased asset shall be at the
lower of the fair value of the leased asset and the present value of minimum lease payment at the beginning date
of the lease. Minimum lease payment shall be the entry value of long-term accounts payable, with difference
recognized as unrecognized financing expenses. Unrecognized financing expenses shall be reckoned in financial
expenses and amortized and using effective interest method during the leasing period. The initial direct expenses
incurred by the Company are included in the value of the rented assets.
(2) Finance leased assets: on the lease commencement date, the company affirms the balance among the finance
lease receivables, the sum of unguaranteed residual value and its present value as the unrealized financing income,
and recognizes it as the rental income during the period of receiving the rent. For the initial direct costs related to
the rental transaction, the company reckons in the initial measurement of the finance lease receivables, and
reduces the amount of income confirmed in the lease term.
31. Other important accounting policy and estimation
Safety production expenses
The safety production expenses drawn by the Company in accordance with the national regulations are included in
the cost of relevant products or the current profit and loss, and are recorded in the “special reserve” account. When
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using the drawn safety production expenses, directly offset the special reserve if it belongs to the expense
expenditure. For fixed assets, the expenses incurred through the collection of “under construction” subjects shall be
recognized as fixed assets when the safety project is completed and ready for use. At the same time, the special
reserve shall be offset according to the cost of forming the fixed assets, and accumulated depreciation of the same
amount shall be recognized. The fixed assets will no longer be depreciated in the future.
32. Changes of important accounting policy and estimation
(1)Changes of important accounting policies
√ Applicable □ Not applicable
Content & reasons Approval procedure Note
32.1Changes of important accounting estimate
(1) Implementation of the Accounting Standards for Business Enterprises No. 21 - Lease (2018 Revision)
The Ministry of Finance revised the Accounting Standards for Business Enterprises No. 21 -- Lease ("New Lease
Standards" for short) in 2018. The Company has implemented the new lease standards from January 1, 2021.
According to the revised standards, the company chooses not to re-evaluate whether they are leases or include
leases on the first execution date for contracts that already exist prior to the first execution date.
The Company acts as the lessee
The Company chooses to adjust the amount of retained earnings and other relevant items in its financial
statements at the beginning of the year of the first implementation of the new lease standards based on the
cumulative impact of the first implementation of the new lease standards, without adjusting the comparable period
information.
For an operating lease existing prior to the first execution date, the Company shall measure the lease liabilities at
the first execution date based on the present value of the remaining lease payment discounted at the incremental
borrowing rate of the Company at the first execution date, and measure the right-of-use assets according to one of
the following two ways for each lease:
Assume that the book value of the new lease standards is adopted on the start date of the lease term and the
Company's incremental borrowing rate on the first execution date is used as the discount rate.
Make necessary adjustments to the prepaid rent for the amount equal to the lease liability.
For operating leases prior to the first execution date, the Company may choose one or more of the following
simplified treatments for each lease in conjunction with the above method:
1) The leases completed within 12 months after the first execution date shall be treated as short-term leases;
2) When measuring lease liabilities, leases with similar features shall use the same discount rate;
3) The measurement of the right-of-use assets does not include the initial direct cost;
4) Where there is an option to renew or terminate the lease, the lease term shall be determined according to the
actual exercise of the option prior to the first exercise and other latest conditions;
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5) As an alternative to the impairment test of the right-of-use asset, assess whether the contract containing the
lease is a loss contract prior to the first execution date in accordance with the Notes "25. Estimated Liabilities"
and adjust the right-of-use asset according to the amount of loss provisions recorded in the balance sheet prior to
the first execution date;
6) The lease changes occurring before the first execution date shall not be retroactively adjusted, and the
accounting treatment shall be conducted in accordance with the final arrangement of lease changes and the new
lease standards.
For the finance lease existing before the first execution date, the Company shall measure the right-of-use assets
and lease liabilities respectively on the first execution date according to the original book value of the finance
lease assets and the finance lease payments payable.
The Company acts as the lessor
For the subleases classified as operating leases prior to the first execution date and surviving after the first
execution date, the Company will re-evaluate them on the first execution date on the basis of the remaining
contract term and terms of the original lease and the sublease, and classify them in accordance with the provisions
of the new lease standards. If they are reclassified as finance leases, the Company will treat them as new finance
leases.
Except for subleases, the Company does not need to adjust the leases on which it is the lessor in accordance with
the new lease standards. The company shall conduct accounting treatment in accordance with the new lease
standards from the first execution date.
The main effects of the Company's implementation of the new lease standards on the financial statements are as
follows:
Content and reasons for Statement items affected Impact on the amount on balance as of 1 Jan. 2021
changes in accounting Consolidate Parent company
policies
As a lessee, the adjustment of Right-of-use assets 2,329,027.97
the operating leases existing
before the date of fist Lease liability 2,329,027.97
execution
(2) Implementation of the "Interpretation No. 14 of Accounting Standards for Business Enterprises"
The Ministry of Finance promulgated the "Interpretation No. 14 of Accounting Standards for Business
Enterprises" (CK[2021] No. 1, hereinafter referred to as "Interpretation No. 14") on February 2, 2021, which has
taken effect as of the date of promulgation. The relevant business added from January 1, 2021 to the effective date
shall be adjusted according to Interpretation No. 14.
① Public-private partnership (PPP) project contracts
Interpretation No. 14 is applicable for the PPP project contracts that meet the "dual features" and "double
controls" described in the interpretation at the same time, and makes retroactive adjustment on the relevant PPP
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project contracts that have been implemented before December 31, 2020 and have not been completed up to the
implementation date, where the retroactive adjustment is not feasible, the application begins at the beginning of
the earliest period of retroactive adjustment, cumulative impact adjusts the retained earnings at the beginning of
the year of the implementation date and other related items in the financial statements, and information of
comparable periods shall not be adjusted. The implementation of the provisions does not have a significant impact
on the Company's financial situation and operating results.
② Interest rate benchmark reform
Interpretation No. 14 provides a simplified accounting treatment for cases where the basis for determining cash
flows related to financial instrument contracts and lease contracts is changed as a result of the interest rate
benchmark reform.
According to the provisions of this interpretation, businesses related to the interest rate benchmark reform
occurring before December 31, 2020 shall be subject to retroactive adjustment, except where retroactive
adjustment is not feasible, and there is no need to adjust the data in the previous comparative financial statements.
On the implementation date of this interpretation, the difference between the original carrying value of financial
assets and financial liabilities and the new carrying value shall be included in the retained earnings or other
comprehensive income at the beginning of the annual reporting period of the implementation date of this
interpretation. The implementation of the provisions does not have a significant impact on the Company's
financial situation and operating results.
(3) Execution of the “Notice on the Adjustment of the Scope of Application of the Provisions on the Accounting
Treatment of COVID-19 Related Rent Concessions”
On June 19, 2020, the Ministry of Finance issued the "Regulations on Accounting Treatment of Rental
Concessions Related to the COVID-19 Epidemic" (CK (2020) No. 10), and enterprises can choose to adopt
simplified methods for accounting treatments for rent concessions and deferred payment of rents directly caused
by the COVID-19 epidemic that meet the conditions.
On May 26, 2021, the Ministry of Finance promulgated the Notice on the Adjustment of the Scope of Application
of the Provisions on the Accounting Treatment of COVID-19 Related Rent Concessions (CK [2021] No. 9), which
has taken effective from May 26, 2021, the scope of application of COVID-19 pandemic-related rent concessions
which are allowed to adopt the simplified method under the Provisions on the Accounting Treatment of
COVID-19 Related Rent Concessions is adjusted from the "the concession applies only to lease payments payable
before 30 June 2021" to "the concession only applies to lease payments payable before 30 June 2022" to "the
concession only applies to lease payments payable before 30 June 2022", and other conditions remain unchanged.
The Company has selected the simplified accounting treatment method for all the eligible lease contracts before
the adjustment of scope of application, and adopted the simplified accounting treatment method for all the eligible
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and similar lease contracts after the adjustment of scope of application, and made retroactive adjustment on
relevant lease contracts that had adopted lease change for accounting treatment before the release of the notice,
but did not adjust the data of the previous comparative financial statement; The relevant rent concessions incurred
between January 1, 2021 and the effective date of the notice of which accounting treatment are not conducted in
accordance with the provisions of the notice shall be adjusted in accordance with the notice.
32.2Adjustment on the items of financial statements at beginning of the year when first exercise the new
lease standards
Consolidate balance sheet
Item Balance at end of Balance at Number adjusted
last year beginning of the
Re-classified Re-measured Total
year
Right-of-use assets 2,329,027.97 2,329,027.97 2,329,027.97
Lease liability 2,329,027.97 2,329,027.97 2,329,027.97
(2) Changes of important accounting estimate
□ Applicable √ Not applicable
(3)Adjustment on the relevant items of financial statement at beginning of the year when implemented the
new leasing standards since 2021
Applicable
Whether to adjust the items of balance sheet at the beginning of the year
√Yes □No
Consolidate balance sheet
In RMB
Item 2020-12-31 2021-01-01 Adjustments
Current assets:
Monetary fund 190,494,225.94 190,494,225.94
Settlement provisions
Capital lent
Trading financial
160,621,806.51 160,621,806.51
assets
Derivative financial
assets
Note receivable 2,213,426.00 2,213,426.00
Account receivable 198,311,102.17 198,311,102.17
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Account receivable
financing
Accounts paid in
27,136,263.84 27,136,263.84
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
Other account
22,631,043.66 22,631,043.66
receivable
Including: Interest
receivable
Dividend
receivable
Buying back the sale
of financial assets
Inventory 3,418,328,974.27 3,418,328,974.27
Contract asset
Assets held for sale
Non-current asset due
within one year
Other current assets 119,750,603.31 119,750,603.31
Total current assets 4,139,487,445.70 4,139,487,445.70
Non-current assets:
Loans and payments
on behalf
Creditors’ investment
Other creditors’
investment
Long-term account
receivable
Long-term equity
73,215,147.84 73,215,147.84
investment
Other equity
instrument investment
Other non-current
57,500.00 57,500.00
financial assets
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Investment real estate 253,037,899.57 253,037,899.57
Fix assets 1,122,692,490.55 1,122,692,490.55
Construction in
1,045,643,295.57 1,045,643,295.57
progress
Productive biological
387,694.20 387,694.20
asset
Oil and gas asset
Right-of-use asset 2,329,027.97 2,329,027.97
Intangible assets 599,306,223.04 599,306,223.04
Expense on Research
and Development
Goodwill
Long-term expenses
31,732,325.01 31,732,325.01
to be apportioned
Deferred income tax
41,347,952.12 41,347,952.12
assets
Other non-current
2,476,174.33 2,476,174.33
assets
Total non-current assets 3,169,896,702.23 3,172,225,730.20 2,329,027.97
Total assets 7,309,384,147.93 7,311,713,175.90 2,329,027.97
Current liabilities:
Short-term loans 110,318,727.12 110,318,727.12
Loan from central
bank
Capital borrowed
Tradable financial
liability
Derivative financial
liability
Note payable
Account payable 480,896,517.64 480,896,517.64
Accounts received in
3,376,262.66 3,376,262.66
advance
Contract liabilities 108,975,866.82 108,975,866.82
Selling financial asset
of repurchase
Absorbing deposit and
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interbank deposit
Security trading of
agency
Security sales of
agency
Wage payable 260,514,559.66 260,514,559.66
Taxes payable 66,904,735.29 66,904,735.29
Other account payable 397,325,719.50 397,325,719.50
Including: Interest
payable
Dividend
2,933,690.04 2,933,690.04
payable
Commission charge
and commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities
104,225,183.07 104,225,183.07
due within one year
Other current
7,250,420.68 7,250,420.68
liabilities
Total current liabilities 1,539,787,992.44 1,539,787,992.44
Non-current liabilities:
Insurance contract
reserve
Long-term loans 841,864,531.75 841,864,531.75
Bonds payable
Including: preferred
stock
Perpetual
capital securities
Lease liability 2,329,027.97 2,329,027.97
Long-term account
16,126,146.20 16,126,146.20
payable
Long-term wage
payable
Accrual liabilities 3,500,000.00 3,500,000.00
Deferred income 100,710,038.32 100,710,038.32
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Deferred income tax
12,150,035.13 12,150,035.13
liabilities
Other non-current
liabilities
Total non-current liabilities 974,350,751.40 976,679,779.37 2,329,027.97
Total liabilities 2,514,138,743.84 2,516,467,771.81 2,329,027.97
Owners’ equity:
Share capital 1,152,535,254.00 1,152,535,254.00
Other equity
instrument
Including: preferred
stock
Perpetual
capital securities
Capital public reserve 1,422,892,729.36 1,422,892,729.36
Less: Inventory shares
Other comprehensive
income
Reasonable reserve
Surplus public reserve 382,367,575.37 382,367,575.37
Provision of general
risk
Retained profit 1,637,536,441.03 1,637,536,441.03
Total owner’s equity
attributable to parent 4,595,331,999.76 4,595,331,999.76
company
Minority interests 199,913,404.33 199,913,404.33
Total owner’s equity 4,795,245,404.09 4,795,245,404.09
Total liabilities and
7,309,384,147.93 7,311,713,175.90 2,329,027.97
owner’s equity
Explanation on adjustment
Balance sheet of parent company
In RMB
Item 2020-12-31 2021-01-01 Adjustments
Current assets:
Monetary fund 5,312,806.71 5,312,806.71
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Trading financial
621,806.51 621,806.51
assets
Derivative financial
assets
Note receivable
Account receivable 4,087,681.18 4,087,681.18
Account receivable
financing
Accounts paid in
advance
Other account
892,105,968.23 892,105,968.23
receivable
Including: Interest
receivable
Dividend
390,000,000.00 390,000,000.00
receivable
Inventory
Contract asset
Assets held for sale
Non-current asset due
within one year
Other current assets 1,497,597.50 1,497,597.50
Total current assets 903,625,860.13 903,625,860.13
Non-current assets:
Creditors’ investment
Other creditors’
investment
Long-term account
receivable
Long-term equity
3,707,714,425.09 3,707,714,425.09
investment
Other equity
instrument investment
Other non-current
financial assets
Investment real estate 16,986,504.04 16,986,504.04
Fix assets 33,125,275.65 33,125,275.65
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Construction in
progress
Productive biological
387,694.20 387,694.20
asset
Oil and gas asset
Right-of-use asset
Intangible assets 12,842,693.98 12,842,693.98
Expense on Research
and Development
Goodwill
Long-term expenses
1,040,708.20 1,040,708.20
to be apportioned
Deferred income tax
assets
Other non-current
assets
Total non-current assets 3,772,097,301.16 3,772,097,301.16
Total assets 4,675,723,161.29 4,675,723,161.29
Current liabilities:
Short-term loans
Tradable financial
liability
Derivative financial
liability
Note payable
Account payable
Accounts received in
advance
Contract liabilities 411.00 411.00
Wage payable 26,535,794.31 26,535,794.31
Taxes payable 2,736,075.65 2,736,075.65
Other account payable 45,560,514.82 45,560,514.82
Including: Interest
payable
Dividend
payable
Liability held for sale
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Non-current liabilities
due within one year
Other current
liabilities
Total current liabilities 74,832,795.78 74,832,795.78
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred
stock
Perpetual
capital securities
Lease liability
Long-term account
payable
Long-term wage
payable
Accrual liabilities 3,500,000.00 3,500,000.00
Deferred income
Deferred income tax
liabilities
Other non-current
liabilities
Total non-current liabilities 3,500,000.00 3,500,000.00
Total liabilities 78,332,795.78 78,332,795.78
Owners’ equity:
Share capital 1,152,535,254.00 1,152,535,254.00
Other equity
instrument
Including: preferred
stock
Perpetual
capital securities
Capital public reserve 3,018,106,568.27 3,018,106,568.27
Less: Inventory shares
Other comprehensive
income
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Reasonable reserve
Surplus public reserve 109,963,147.23 109,963,147.23
Retained profit 316,785,396.01 316,785,396.01
Total owner’s equity 4,597,390,365.51 4,597,390,365.51
Total liabilities and
4,675,723,161.29 4,675,723,161.29
owner’s equity
Explanation on adjustment
(4) Retrospective adjustment of early comparison data description when implemented the new leasing
standards since 2021
□ Applicable √ Not applicable
33.Others
N/A
VI. Taxes
1. Type of tax and rate for main applicable tax
Taxes Basis Rate
The output tax is calculated on the basis
of the sales of goods and the taxable
service income calculated according to
VAT the tax law. After deducting the input tax 13%, 9% ,6%, 5%, 3%
amount that is allowed to be deducted in
the current period, the difference part is
the value-added tax payable.
Calculated according to the actual
Urban maintenance and construction tax 5%, 7%
value-added tax and consumption tax
Enterprise income tax Calculated according to taxable income 25%, 15%, 10%, 5%
Calculated according to the actual
Educational surtax 3%
value-added tax and consumption tax
Calculated according to the actual
Local education surcharge 2%
value-added tax and consumption tax
Price-based resource tax, 1.2 percent of
the remaining value after deducting 20%
Property tax of the original value of the property; 12 1.20%, 12%
percent of the rental income if levy by
rents.
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When the property right of the real
property is transferred, the contract price
Deed tax 3%-5%
shall be paid to the owner of the property
right in one lump sum
Rate of income tax for different taxpaying body:
Taxpaying body Rate of income tax
Shenzhen Cereals Holdings Co., Ltd. 25%
Shenzhen Cereals Group Co., Ltd. (hereinafter referred to as
25%, Some businesses are tax-free
"SZCG")
Shenzhen Hualian Grain & Oil Trade Co., Ltd. (hereinafter
25%
referred to as "Hualian Cereals and Oil")
Dongguan Hualian Grain & Oil Trade Co., Ltd. (hereinafter
25%
referred to as "Dongguan Hualian ")
Shenzhen Flour Co., Ltd. (hereinafter referred to as "Shenzhen
Tax-free
Flour")
Shenliang Quality Inspection Co., Ltd. (hereinafter referred to
5%
as "Shenliang Quality Inspection ")
Hainan Shenliang Oil & Food Co., Ltd. (hereinafter referred to
5%
as "Hainan Oil & Food")
Shenliang Doximi Business Co., Ltd. (hereinafter referred to as
25%
"Doximi")
Shenzhen Shenliang Big Kitchen Food Supply Chain Co.,
25%
Ltd(hereinafter referred to as "Big Kitchen ")
Shenzhen Shenliang Storage (Yingkou) Co., Ltd. (hereinafter
25%
referred to as "Yingkou Storage")
Shenzhen Shenliang Cold Chain Logistics Co., Ltd.
15%
(hereinafter referred to as "Cold Chain Logistics")
Shenzhen Shenliang Property Development Co., Ltd.
25%
(hereinafter referred to as " Shenliang Property")
Shenzhen Shenliang Property Management Co., Ltd.
5%
(hereinafter referred to as "Shenliang Property")
Dongguan Shenliang Logistics Co., Ltd. (hereinafter referred
25%
to as "Dongguan Logistics")
Dongguan International Food Industrial Park Development
25%
Co., Ltd. (hereinafter referred to as "International Food")
Dongguan Shenliang Oil & Food Trade Co., Ltd. (hereinafter
25%
referred to as "Dongguan Oil & Food")
Shuangyashan Shenliang Zhongxin Cereals Base Co., Ltd. 25%
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(hereinafter referred to as "Shuangyashan")
Heilongjiang Hongxinglong Nongken Shenxin Cereals
Industrial Park Co., Ltd. (hereinafter referred to as " 25%
Hongxinglong")
Shenzhen Shenbao Huacheng Science and Technology Co.,
25%
Ltd. (hereinafter referred to as "Shenbao Huacheng")
Wuyuan Ju Fang Yong Tea Industry Co., Ltd.(hereinafter
25%
referred to as "Wuyuan Ju Fang Yong")
Shenzhen Shenshenbao Investment Co., Ltd. (hereinafter
25%
referred to as "Shenbao Investment")
Shenzhen Shenshenbao Tea Culture Commercial Management
25%
Co., Ltd. (hereinafter referred to as "Shenbao Tea Culture")
Hangzhou Ju Fang Yong Holding Co., Ltd (hereinafter referred
25%
to as "Ju Fang Yong Holding ")
Hangzhou Ju Fang Yong Trading Co., Ltd. (hereinafter
25%
referred to as "Ju Fang Yong Trading ")
Hangzhou Fuhaitang Catering Management Chain Co., Ltd.
25%
(hereinafter referred to as "Fuhaitang Catering")
Hangzhou Fuhaitang Tea Ecological Technology Co., Ltd.
25%
(hereinafter referred to as "Fuhaitang Ecological")
Mount Wuyi Shenbao Rock Tea Co., Ltd. (hereinafter referred
25%
to as "Shenbao Rock Tea")
Yunnan Shenbao Pu’er Tea Supply Chain Management Co.,
25%
Ltd. (hereinafter referred to as "Pu’er Tea Supply Chain")
Shenzhen Shenliang Food Co., Ltd. (hereinafter referred to as
25%
"Shenliang Food ")
Yunnan Pu’er Tea Trading Center Co., Ltd. (hereinafter
25%
referred to as "Pu’er Tea Trading Center")
Huizhou Shenbao Food Co., Ltd. (hereinafter referred to as
25%
"Shenbao Food")
Huizhou Shenbao Technology Co., Ltd. (hereinafter referred to
25%
as "Huizhou Shenbao")
Shenzhen Shenbao Property Management Co., Ltd.
10%
(hereinafter referred to as "Shenbao Property")
Shenzhen Shenbao Technology Center Co., Ltd. (hereinafter
25%
referred to as "Shenbao Technology")
Shenzhen Shenbao Industrial & Trading Co., Ltd. (hereinafter
25%
referred to as "Shenbao Industry and Trade")
Shenzhen Shenliang Hongjun Catering Management Co., Ltd. 25%
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
(hereinafter referred to as "Shenliang Hongjun")
2. Tax preferential
2.1 VAT discounts and approval
According to the “Notice of the Ministry of Finance and the State Administration of Taxation on the Issues
Concerning the VAT Collection and Exemption of Grain Enterprises (CSZ [1999] No. 198)” and “Shenzhen Tax
Service, State Taxation Administration and Shenzhen Finance Bureau SGSF (SCF [1999] No.428)”, confirming
that SZCG, the Company’s subsidiary, and its subsidiaries, are state-owned grain purchase and sale enterprises that
undertake grain collection and storage tasks for Shenzhen, the grain sold is subject to tax-free declaration by rule
and enjoys the exemption from VAT. In addition, according to the stipulation of the “Announcement of State
Administration of Taxation on Relevant Management Matters After Clarifying the Cancellation of the Approval of
Some VAT Preferential Policies” (SAT Announcement 2015 No. 38), the approval for exemption from VAT and
the involved tax review and approval procedures for the state-owned grain enterprises that undertake grain
collection and storage tasks, other grain enterprises that operate tax-free projects and enterprises that have edible
vegetable oil sales business for government reserves are cancelled and changed to record management. The
taxpayer does not change the content of the record materials during the period of tax exemption can be put on a
one-time record. In December 2013, SZCG obtained the notice of the VAT preferential record (SGSFJBM [2013]
No.2956) from Shenzhen Futian State Administration of Taxation. In the case of no change in policy, this limited
filing period started on January 1st, 2014.The VAT input tax amount of the preferential item was separately
accounted for, and the input VAT calculation method cannot be changed within 36 months after the selection. As
of December 31, 2018, the tax exemption policy has been in effect since its filing in 2014, and the company’s VAT
input tax has not changed since it was accounted for separately in 2014, so the company continues to enjoy the tax
preference.
2.2 Stamp duty, house property tax, and urban land use tax preferences
According to the stipulations of “Notice of the Ministry of Finance and the State Administration of Taxation on
the Relevant Tax Policies Concerning Some National Reserved Commodities (CS [2019] No. 77)”, and
documents of Guangdong Province Department of Finance, Guangdong Provincial Taxation Bureau of the State
Administration of Taxation and Guangdong Provincial Food and Material Reserve Bureau (Yue Cai Shui
[2020]No.2, confirming that the fund account book of SZCG, the Company’s subsidiary, and its direct depots is
exempt from stamp duty, confirming that the written purchase and sale contracts of SZCG in the process of
undertaking the commodity reserve business are exempt from stamp duty, and confirming that SZCG’s house
property and land used for the commodity reserve business are exempt from house property tax and urban land
use tax. The execution time limit for this tax preference policy is up to December 31, 2021.
2.3 Enterprise income tax
(1) According to the “Notice on the Issues Concerning the Treatment of Corporate Income Taxes for Fiscal Funds
130
深圳市深粮控股股份有限公司 2021 年半年度报告全文
of Special Purposes of the Ministry of Finance and the State Administration of Taxation (CS [2009] No. 87), the
government service income obtained by SZCG, the Company’s subsidiary, and its subsidiaries from the
government’s grain reserve business is a special-purpose fiscal fund, which can be used as non-taxable income if
eligible and is deducted from the total income when calculating the taxable income. The expenses arising from the
above-mentioned non-taxable income for expenditure shall not be deducted when calculating the taxable income;
the calculated depreciation and amortization of the assets formed by non-taxable income for expenditure shall not
be deducted when calculating the taxable income.
(2) Shenzhen Flour, a subsidiary of the Company, is a flour primary processing enterprise, according to the
stipulations of the “Notice on Issuing the Scope (Trial) of Primary Processing of Agricultural Products Applicable
to the Corporate Income Tax Preferential Policy (CS [2008] No. 149)” and the “Supplementary Notice on the
Scope of Primary Processing of Agricultural Products Applicable to the Corporate Income Tax Preferential Policy
of the Ministry of Finance and the State Administration of Taxation” (CS [2011] No. 26), the wheat primary
processing is exempt from income tax.
(3) According to Article 1, CS [2021] No. 30 of the Notice on the Extension of Preferential Policies of Enterprise
Income Tax of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in Shenzhen, the
enterprise income tax of qualified enterprises located in Qianhai Shenzhen-Hong Kong Modern Service Industry
Cooperation Zone is levied at the rate of 15.00%. The Company's subsidiary cold chain logistics is registered in
Shenzhen Qianhai Cooperation Zone, which is eligible for preferential tax conditions. According to relevant
policies of the cooperation zone, its income tax will enjoy a preferential tax of 15.00%, and the preferential tax
policy will end on December 31, 2025.
(4) According to Article II of the "Notice of the State Taxation Administration and Ministry of Finance on the
Implementation of Inclusive Tax Relief Policies for Small and Micro Enterprises" (CS[2029] No. 13), the portion
of the annual taxable income of small, low-profit enterprises that does not exceed 1 million yuan will be included
in the taxable income by 25%, and the corporate income tax will be paid at a tax rate of 20%. The portion of the
annual taxable income of small, low-profit enterprises exceeding 1 million yuan but not exceeding 3 million yuan
will be included in the taxable income by 50%, and the corporate income tax will be paid at a tax rate of 20%. The
Company’s subsidiaries, Quality Inspection, Hainan Grain and Oil and SZCH Property, are small and low-profit
enterprises that meet the conditions for preferential taxation, and their income tax enjoys a 5% tax preference; the
Company’s subsidiary Shenbao Property is a small and low-profit enterprise that meets the conditions for
preferential taxation, and its income tax enjoys a 10% tax preference.
3. Other
Nil
131
深圳市深粮控股股份有限公司 2021 年半年度报告全文
VII. Annotation to main items of consolidated financial statements
1. Monetary funds
In RMB/CNY
Item Ending balance Opening balance
Cash on hand 100,315.03 62,642.11
Cash in bank 67,609,744.07 189,169,821.01
Other monetary fund 1,064,024.01 1,261,762.82
Total 68,774,083.11 190,494,225.94
Other explanation
The Company did not has account pledge, freeze or has potential risks in collection ended as 30 June 2021.
2. Tradable financial assets
In RMB/CNY
Item Ending balance Opening balance
Financial assets measured by fair value
and with variation reckoned into current 910,778.83 160,621,806.51
gains/losses
Including:
Structured financial products 160,000,000.00
Equity investment instrument 910,778.83 621,806.51
Including:
Total 910,778.83 160,621,806.51
Other explanation:
3. Note receivable
(1) Category
In RMB/CNY
Item Ending balance Opening balance
Bank acceptance bill 694,376.00 2,213,426.00
Total 694,376.00 2,213,426.00
In RMB/CNY
Ending balance Opening balance
Category
Book balance Bad debt Book Book balance Bad debt provision Book
132
深圳市深粮控股股份有限公司 2021 年半年度报告全文
provision value value
Amoun Amoun Accrua Amoun Accrual
Ratio Ratio Amount
t t l ratio t ratio
Including:
Including:
Bad debt provision accrual on single basis:
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Bad debt provision accrual on portfolio:
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio determines:
If the provision for bad debts of note receivable is made in accordance with the general model of expected credit losses, please refer
to the disclosure of other account receivables to disclose related information about bad-debt provisions:
□ Applicable √Not applicable
4. Account receivable
(1) Category
In RMB/CNY
Ending balance Opening balance
Bad debt
Book balance Book balance Bad debt provision
Category provision Book Book
Amoun Amoun Accrua value Amoun Amoun Accrual value
Ratio Ratio
t t l ratio t t ratio
Account receivable
with bad debt 99,461, 12.24 96,675, 97.20 2,786,5 99,461, 96,675, 2,786,59
33.33% 97.20%
provision accrual 835.19 % 238.63 % 96.56 835.19 238.63 6.56
on a single basis
Including:
Account receivable
with single
significant amount 10,455, 10,455, 100.00 10,455, 10,455, 100.00
1.29% 3.50%
and withdrawal 627.54 627.54 % 627.54 627.54 %
bad debt provision
on single basis
133
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Account receivable
with single minor
amount but with 89,006, 10.95 86,219, 96.87 2,786,5 89,006, 86,219, 2,786,59
29.83% 96.87%
bad debts provision 207.65 % 611.09 % 96.56 207.65 611.09 6.56
accrued on a single
basis
Account receivable
713,07 709,65 198,93
with bad debt 87.76 3,423,4 3,411,6 195,524,
8,324.2 0.48% 4,842.4 6,140.2 66.67% 1.71%
provision accrual % 81.81 34.68 505.61
6 5 9
on portfolio
Including:
279,22 275,79 123,37
Combination of 34.46 3,423,4 3,411,6 119,966,3
2,500.8 1.23% 9,019.0 8,031.8 41.35% 2.77%
sales receivables % 81.81 34.68 97.15
2 1 3
433,85 433,85
Specific object 53.40 75,558, 75,558,1
5,823.4 5,823.4 25.32%
combinations % 108.46 08.46
4 4
812,54 100,09 712,44 298,39 100,08
100.00 12.32 100.00 198,311,1
Total 0,159.4 8,720.4 1,439.0 7,975.4 6,873.3 33.54%
% % % 02.17
5 4 1 8 1
Bad debt provision accrual on single basis:
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Guangzhou Jinhe Feed Slightly possibly taken
10,455,627.54 10,455,627.54 100.00%
Co., Ltd back
Shenzhen Faqun Slightly possibly taken
4,582,156.00 4,582,156.00 100.00%
Industry Co., Ltd. back
Li Shaoyu owes for Slightly possibly taken
2,929,128.53 2,929,128.53 100.00%
goods back
Slightly possibly taken
Hengyang Feed factory 2,591,566.65 2,591,566.65 100.00%
back
Zhuhai Doumen Huabi Slightly possibly taken
2,396,327.14 2,396,327.14 100.00%
Feed Co., Ltd. back
Chongqing Zhongxing
Slightly possibly taken
Food Industry Co., 2,354,783.30 2,354,783.30 100.00%
back
Ltd.
Shenzhen Buji
Slightly possibly taken
Agricultural Products 1,534,512.45 1,534,512.45 100.00%
back
Wholesale Center
134
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Market Xingmin
Commercial Bank
Slightly possibly taken
Cao Shengyun 1,429,745.00 1,429,745.00 100.00%
back
Huaxing Feed Factory,
Slightly possibly taken
Shunde District, 1,290,274.22 1,290,274.22 100.00%
back
Foshan City
Slightly possibly taken
Shanghai office 1,059,295.90 1,059,295.90 100.00%
back
Shenzhen Dihuan
Investment Slightly possibly taken
1,045,356.50 1,045,356.50 100.00%
Development back
Company
Slightly possibly taken
Other single provision 67,793,061.96 65,006,465.40 95.89%
back
Total 99,461,835.19 96,675,238.63 -- --
Bad debt provision accrual on single basis:
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Bad debt provision accrual on portfolio:
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Combination of sales
279,222,500.82 3,423,481.81 1.23%
receivables
Specific object combinations 433,855,823.44
Total 713,078,324.26 3,423,481.81 --
Explanation on portfolio determines:
Bad debt provision accrual on portfolio:
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio determines:
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses, please
refer to the disclosure of other account receivables to disclose related information about bad-debt provisions:
□ Applicable √Not applicable
By account age
135
深圳市深粮控股股份有限公司 2021 年半年度报告全文
In RMB/CNY
Account age Ending balance
Within one year (including 1-year) 709,154,553.26
1-2 years 1,997,698.44
2-3 years 4,291,591.73
Over 3 years 97,096,316.02
3-4 years 997,736.66
4-5 years 796,616.58
Over 5 years 95,301,962.78
Total 812,540,159.45
(2) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
In RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Bad debt
provision
96,675,238.63 96,675,238.63
accrual on
single basis
Sales
3,411,634.68 11,847.13 3,423,481.81
receivable
Total 100,086,873.31 11,847.13 100,098,720.44
Including major amount bad debt provision that collected or reversal in the period:
In RMB/CNY
Enterprise Amount collected or reversal Collection way
Nil
(3) Top 5 account receivables at ending balance by arrears party
In RMB/CNY
Ending balance of accounts Proportion in total receivables Bad debt preparation ending
Enterprise
receivable at ending balance balance
First 433,676,208.60 53.37%
Second 116,537,624.81 14.34% 1,165,376.25
136
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Third 47,968,235.57 5.90% 479,682.36
Fourth 15,645,347.20 1.93% 156,453.47
Fifth 11,998,839.55 1.48% 119,988.40
Total 625,826,255.73 77.02%
5. Accounts paid in advance
(1) By account age
In RMB/CNY
Ending balance Opening balance
Account age
Amount Ratio Amount Ratio
Within one year 74,621,066.06 98.51% 26,384,747.13 97.23%
1-2 years 990,625.12 1.31% 616,328.73 2.27%
2-3 years 62,060.02 0.08% 61,695.87 0.23%
Over 3 years 74,655.37 0.10% 73,492.11 0.27%
Total 75,748,406.57 -- 27,136,263.84 --
Explanation on reasons of failure to settle on important account paid in advance with age over one year:
(2) Top 5 account paid in advance at ending balance by prepayment object
Proportion in of total prepayment
Prepaid objects Ending balance
balance at the end of period (%)
First 51,099,594.05 67.46
Second 6,098,013.75 8.05
Three 4,806,333.75 6.35
Fourth 2,120,000.00 2.80
Fifth 1,794,973.44 2.37
Total 65,918,914.99 87.03
Other explanation:
6. Other account receivable
In RMB/CNY
Item Ending balance Opening balance
Other account receivable 18,588,482.62 22,631,043.66
Total 18,588,482.62 22,631,043.66
137
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(3) Other account receivable
1) By nature
In RMB/CNY
Nature Ending book balance Opening book balance
Margin and deposit 5,419,081.24 14,965,660.96
Other intercourse funds 110,917,774.74 105,459,789.74
Total 116,336,855.98 120,425,450.70
2) Accrual of bad debt provision
In RMB/CNY
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Bad debt provision the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance on Jan. 1,
2,380,495.42 95,413,911.62 97,794,407.04
2021
Balance of Jan. 1, 2021
—— —— —— ——
in the period
Current accrual -266,212.27 220,207.77 -46,004.50
Current write-off 29.18 29.18
Balance on Jun. 30,
2,114,253.97 95,634,119.39 97,748,373.36
2021
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
In RMB/CNY
Account age Ending balance
Within one year (including 1-year) 15,684,570.95
1-2 years 3,946,102.73
2-3 years 1,048,008.68
Over 3 years 95,658,173.62
3-4 years 1,329,095.17
4-5 years 683,347.93
Over 5 years 93,645,730.52
138
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Total 116,336,855.98
3) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
In RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written off Other
reversal
Bad debt
provision
95,413,911.62 220,207.77 95,634,119.39
accrual on
single basis
Bad debt
provision
2,380,495.42 -266,212.27 29.18 2,114,253.97
accrual on
portfolio
Total 97,794,407.04 -46,004.50 29.18 97,748,373.36
Including major amount with bad debt provision reverse or collected in the period:
In RMB/CNY
Enterprise Amount reversal or collected Collection way
4) Top 5 other receivables at ending balance by arrears party
In RMB/CNY
Ratio in total
Bad debt
ending balance of
Enterprise Nature Ending balance Account age preparation ending
other account
balance
receivables
First Intercourse funds 24,384,884.84 Over 5 years 20.96% 21,963,786.56
Second Intercourse funds 8,326,202.63 Over 5 years 7.16% 8,326,202.63
Three Intercourse funds 8,285,803.57 Over 5 years 7.12% 8,285,803.57
Fourth Intercourse funds 5,677,473.59 Over 5 years 4.88% 5,677,473.59
Fifth Intercourse funds 5,602,468.81 Over 5 years 4.82% 5,602,468.81
Total -- 52,276,833.44 -- 44.94% 49,855,735.16
7. Inventories
Whether companies need to comply with the disclosure requirements of the real estate industry
No
139
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(1) Category
In RMB/CNY
Ending balance Opening balance
Inventories fall Inventories fall
provision or provision or
contract contract
Item
Book balance performance Book value Book balance performance Book value
costs costs
impairment impairment
provision provision
Raw materials 76,395,063.80 16,559,251.32 59,835,812.48 68,152,781.12 16,559,251.32 51,593,529.80
Inventory 4,135,095,644. 4,023,558,725. 3,431,982,588. 3,321,835,893.
111,536,919.08 110,146,694.45
goods 49 41 15 70
Revolving
1,785,312.27 887,023.20 898,289.07 5,614,055.57 887,023.20 4,727,032.37
material
Goods in transit 7,350,107.95 7,350,107.95 7,582,654.13 7,582,654.13
Consignment
processing 6,095,792.03 5,290,502.32 805,289.71 5,388,478.79 5,290,502.32 97,976.47
materials
Semi-finished
29,487,509.61 29,487,509.61 27,672,374.13 27,672,374.13
products
Low-value
consumables-p 8,315,234.63 8,315,234.63 4,819,513.67 4,819,513.67
ackaging
4,264,524,664. 4,130,250,968. 3,551,212,445. 3,418,328,974.
Total 134,273,695.92 132,883,471.29
78 86 56 27
(2) Inventories fall provision or contract performance costs impairment provision
In RMB/CNY
Current amount increased Current amount decreased
Opening
Item Reversal or Ending balance
balance Accrual Other Other
write-off
Raw materials 16,559,251.32 16,559,251.32
Inventory
110,146,694.45 111,448,173.12 110,057,948.49 111,536,919.08
goods
Revolving
887,023.20 887,023.20
material
140
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Consignment
processing 5,290,502.32 5,290,502.32
materials
Total 132,883,471.29 111,448,173.12 110,057,948.49 134,273,695.92
8. Other current assets
In RMB/CNY
Item Ending balance Opening balance
Financial products 20,000,000.00 10,000,000.00
Other
Input tax to be deducted 106,719,728.35 109,023,326.25
Prepaid enterprise income tax 727,277.06
Total 126,719,728.35 119,750,603.31
Other explanation:
9. Long-term equity investment
In RMB/CNY
Current changes (+,-)
Ending
Investm Cash
Openin Other Accrual balance
ent dividen Ending
The g Additio compre of of
Capital gains Other d or balance
investe balance nal hensive impair impair
reducti recogni equity profit Other (book
d entity (book investm income ment ment
on zed change announ value)
value) ent adjustm provisi provisi
under ced to
ent on on
equity issued
I. Joint venture
II. Associated enterprise
Zhuhai
Hengxi
ng Feed 33,002, 324,99 33,327,
Industri 039.62 8.58 038.20
al Co.,
Ltd.
Shenzh
en
3,359,6 -185,54 3,174,0
Duoxi
01.93 8.73 53.20
Equity
Investm
141
深圳市深粮控股股份有限公司 2021 年半年度报告全文
ent
Fund
Manage
ment
Co.,
Ltd.
Shenlia
ng
Intellig
ent
Wulian
Equity
Investm
ent
26,255, -109,51 26,146,
Fund
667.98 5.52 152.46
(Shenz
hen)
Partner
ship
Enterpr
ise
(Limite
d)
Shenzh
en
Shenyu
10,597, 410,24 11,008,
an Data
838.31 5.34 083.65
Tech.
Co.,
Ltd
Shenzh
en
Shenba
o
57,628.
(Liaoyu
53
an)
Industri
al Co.,
Ltd.
Shenzh
en 2,870,0
Shenba 00.00
o
142
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(Xinmi
n)
Foods
Co.,
Ltd.
Changz
hou
Shenba
o
Chacan
g
E-busin
ess Co.,
Ltd.
Shenzh
en
Shichu
mingm
en
Restaur
ant
Manage
ment
Co.,
Ltd.
Subtota 73,215, 440,17 73,655, 2,927,6
l 147.84 9.67 327.51 28.53
73,215, 440,17 73,655, 2,927,6
Total
147.84 9.67 327.51 28.53
Other explanation
10. Other non-current financial assets
In RMB/CNY
Item Ending balance Opening balance
Financial assets measured at fair value
and whose changes are included in the
current profit and loss
Including: Debt instrument investment
Equity instrument investment 57,500.00 57,500.00
Total 57,500.00 57,500.00
143
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Other explanation:
11. Investment real estate
(1) Measured at cost
√ Applicable □Not applicable
In RMB/CNY
Construction in
Item House and building Land use right Total
progress
I. Original book value
1.Opening balance 590,440,328.15 590,440,328.15
2.Current amount
increased
(1) Outsourcing
(2) Inventory\fixed
assets\construction in
process transfer-in
(3) Increased by
combination
3.Current amount
decreased
(1) Disposal
(2) Other transfer-out
4.Ending balance 590,440,328.15 590,440,328.15
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 337,402,428.58 337,402,428.58
2.Current amount
8,190,545.20 8,190,545.20
increased
(1) Accrual or
8,190,545.20 8,190,545.20
amortization
3.Current amount
decreased
144
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(1) Disposal
(2) Other transfer-out
4.Ending balance 345,592,973.78 345,592,973.78
III. Impairment
provision
1.Opening balance
2.Current amount
increased
(1) Accrual
3. Current amount
decreased
(1) Disposal
(2) Other transfer-out
4.Ending balance
IV. Book value
1.Ending book value 244,847,354.37 244,847,354.37
2. Opening book value 253,037,899.57 253,037,899.57
12. Fixed assets
In RMB/CNY
Item Ending balance Opening balance
Fixed assets 1,339,289,781.07 1,122,692,490.55
Fixed assets disposal 15,710.00
Total 1,339,305,491.07 1,122,692,490.55
(1) Fixed assets
In RMB/CNY
House and Machinery Transport Electronic and
Item Total
buildings equipment equipment other equipment
I. Original book
value:
1.Opening 1,039,002,914.64 532,316,124.36 17,662,383.74 68,287,685.82 1,657,269,108.56
145
深圳市深粮控股股份有限公司 2021 年半年度报告全文
balance
2.Current
206,859,963.77 20,609,099.53 37,536.16 21,125,146.53 248,631,745.99
amount increased
(1) Purchase 849,283.58 37,536.16 14,161,752.45 15,048,572.19
(2) Construction in
progress 206,859,963.77 19,759,815.95 6,963,394.08 233,583,173.80
transfer-in
(3)
Increased by
combination
3.Current
810,115.28 586,965.42 641,148.21 2,038,228.91
amount decreased
(1) Disposal
810,115.28 586,965.42 641,148.21 2,038,228.91
or scrap
4.Ending
1,245,862,878.41 552,115,108.61 17,112,954.48 88,771,684.14 1,903,862,625.64
balance
II. Accumulated
depreciation
1.Opening
217,598,012.04 255,179,025.46 12,517,697.64 44,323,543.85 529,618,278.99
balance
2.Current
14,397,576.84 11,888,234.19 694,122.18 4,650,771.70 31,630,704.91
amount increased
(1) Accrual 14,397,576.84 11,888,234.19 694,122.18 4,650,771.70 31,630,704.91
3.Current
729,103.75 329,065.00 576,309.60 1,634,478.35
amount decreased
(1) Disposal
729,103.75 329,065.00 576,309.60 1,634,478.35
or scrap
4.Ending
231,995,588.88 266,338,155.90 12,882,754.82 48,398,005.95 559,614,505.55
balance
III. Impairment
provision
1.Opening
689,332.71 4,259,116.44 9,889.87 4,958,339.02
balance
2.Current
146
深圳市深粮控股股份有限公司 2021 年半年度报告全文
amount increased
(1) Accrual
3.Current
amount decreased
(1) Disposal
or scrap
4.Ending
689,332.71 4,259,116.44 9,889.87 4,958,339.02
balance
IV. Book value
1.Ending book
1,013,177,956.82 281,517,836.27 4,230,199.66 40,363,788.32 1,339,289,781.07
value
2. Opening
820,715,569.89 272,877,982.46 5,144,686.10 23,954,252.10 1,122,692,490.55
book value
(2) Fix assets without property certification held
In RMB/CNY
Reasons for without the property
Item Book value
certification
House buildings 88,736,008.62 Still under processing
At present, the relevant application and
House buildings 15,188,788.28
approval procedures are being started.
Simple and temporary buildings etc,
House buildings 10,588,288.49 cannot handle the property right
certificate
Simple and temporary buildings etc,
House buildings 1,178,284.70 cannot handle the property right
certificate
Berth of wharf has right of use, no need
House buildings 102,533,049.08
to handle the certificate
Berth of wharf has right of use, no need
House buildings 154,683,436.23
to handle the certificate
Other explanation
(3) Fixed assets disposal
In RMB/CNY
147
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Item Ending balance Opening balance
Fixed assets disposal 15,710.00
Total 15,710.00
Other explanation
13. Construction in progress
In RMB/CNY
Item Ending balance Opening balance
Construction in progress 868,979,194.24 1,045,643,295.57
Total 868,979,194.24 1,045,643,295.57
(1) Construction in progress
In RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Shenbao Plaza
3,842,333.64 3,842,333.64 3,842,333.64 3,842,333.64
project
Dongguan
grain storage
and wharf 105,051,055.18 105,051,055.18 266,376,815.54 266,376,815.54
matching
project
Pinghu Grain
Depot Phase III
Low
Temperature
Rice 13,069,797.53 13,069,797.53
Warehouse
Expansion and
Reconstruction
Project
Deep
processing of
Dongguan 692,628.86 692,628.86 513,729.78 513,729.78
Industry and
Trading Food
CDE storage of 736,730,017.78 736,730,017.78 720,076,609.48 720,076,609.48
148
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Dongguan
Food Industrial
Park and wharf
mating projects
Grain storage
43,334,291.04 43,334,291.04
and processing
Water Leakage
Project of
2,763,915.81 2,763,915.81
Pinghu
Reservoir
Shuguang
Warehouse No.
3 & No. 6
1,992,099.16 1,992,099.16
Refrigeration
Reconstruction
Project
Renovation of
supporting
loading and
unloading 1,169,025.00 1,169,025.00
facilities in
Pinghu
Reservoir
Cold chain
intelligent 3,645,282.94 3,645,282.94 3,645,282.94 3,645,282.94
system
Other 10,693,601.69 903,189.74 9,790,411.95 6,674,716.56 903,189.74 5,771,526.82
1,050,388,818. 1,045,643,295.
Total 873,724,717.62 4,745,523.38 868,979,194.24 4,745,523.38
95 57
(2) Changes of major construction in progress
In RMB/CNY
Includi
Propor Accum ng:
Curren Interes
Other tion of ulated amoun
Openi t Transf t
decrea Ending project capital t of Capital
Item ng amoun er-in Progre capital
Budget sed in balanc invest ization capital resour
Name balanc t fixed ss ization
the e ment of ization ces
e increas assets rate in
Period in interes of
ed Period
budget t interes
t in
149
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Period
Dongg
uan
grain
storag 1,242, 266,37 10,664 171,99 105,05 34,175
77.00 77.00 1,938,
e and 000,00 6,815. ,855.9 0,616. 1,055. ,733.6 4.90% Other
% % 827.03
wharf 0.00 54 8 34 18 7
matchi
ng
project
Deep
proces
sing of
Dongg 292,00
513,72 178,89 692,62 42.00 42.00 4,812,
uan 0,000. Other
9.78 9.08 8.86 % % 867.06
Industr 00
y and
Tradin
g Food
CDE
storag
e of
Dongg
uan
Food
1,087, 720,07 16,653 736,73 87,395 14,547
Industr 95.00 95.00
300,00 6,609. ,408.3 0,017. ,237.6 ,868.6 4.90% Other
ial % %
0.00 48 0 78 7 9
Park
and
wharf
mating
project
s
2,621, 986,96 27,497 171,99 842,47 126,38 16,486
Total 300,00 7,154. ,163.3 0,616. 3,701. -- -- 3,838. ,695.7 --
0.00 80 6 34 82 40 2
14. Productive biological asset
(1) Measured by cost
√ Applicable □Not applicable
In RMB/CNY
150
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Item Plant Livestock Forestry Fisheries Total
Tea tree
I. Original book
value
1.Opening
416,771.28 416,771.28
balance
2.Current
amount increased
(1)
Outsourcing
(2)
self-cultivate
3.Current
amount decreased
(1) Disposal
(2) Other
4.Ending
416,771.28 416,771.28
balance
II. Accumulated
depreciation
1.Opening
29,077.08 29,077.08
balance
2.Current
4,846.20 4,846.20
amount increased
(1) Accrual 4,846.20 4,846.20
3.Current
amount decreased
(1) Disposal
(2) Other
4.Ending
33,923.28 33,923.28
balance
III. Impairment
provision
151
深圳市深粮控股股份有限公司 2021 年半年度报告全文
1.Opening
balance
2.Current
amount increased
(1) Accrual
3.Current
amount decreased
(1) Disposal
(2) Other
4.Ending
balance
IV. Book value
1.Ending book
382,848.00 382,848.00
value
2. Opening
387,694.20 387,694.20
book value
15. Right-of-use asset
In RMB/CNY
Item House building Total
1.Opening balance 2,329,027.97 2,329,027.97
2.Current amount increased 96,145,899.53 96,145,899.53
—New lease 96,145,899.53 96,145,899.53
4.Ending balance 98,474,927.50 98,474,927.50
2.Current amount increased 8,663,657.57 8,663,657.57
(1) Accrual 8,663,657.57 8,663,657.57
4.Ending balance 8,663,657.57 8,663,657.57
1.Ending book value 89,811,269.93 89,811,269.93
2. Opening book value 2,329,027.97 2,329,027.97
Other explanation:
152
深圳市深粮控股股份有限公司 2021 年半年度报告全文
16. Intangible assets
(1) Intangible assets
In RMB/CNY
Non-patent
Item Land use right Patent Other Total
technology
I. Original book
value
1.Opening
633,437,630.19 47,245,918.89 40,777,889.56 34,007,377.25 755,468,815.89
balance
2.Current
95,247.35 6,846,482.20 13,683,637.74 20,625,367.29
amount increased
(1)
95,247.35 6,846,482.20 13,683,637.74 20,625,367.29
Purchase
(2) Internal R&D
(3)
Increased by
combination
3.Current
amount decreased
(1)
Disposal
4.Ending
633,532,877.54 47,245,918.89 47,624,371.76 47,691,014.99 776,094,183.18
balance
II. Accumulated
amortization
1.Opening
100,424,358.42 27,673,682.23 9,037,770.45 12,343,156.33 149,478,967.43
balance
2.Current
7,569,916.80 1,026,128.94 3,526,506.37 1,257,971.54 13,380,523.65
amount increased
(1) Accrual 7,569,916.80 1,026,128.94 3,526,506.37 1,257,971.54 13,380,523.65
3.Current
amount decreased
(1)
Disposal
153
深圳市深粮控股股份有限公司 2021 年半年度报告全文
4.Ending
107,994,275.22 28,699,811.17 12,564,276.82 13,601,127.87 162,859,491.08
balance
III. Impairment
provision
1.Opening
5,553,283.54 1,130,341.88 0.00 6,683,625.42
balance
2.Current
amount increased
(1) Accrual
3.Current
amount decreased
(1) Disposal
4.Ending
5,553,283.54 1,130,341.88 0.00 6,683,625.42
balance
IV. Book value
1.Ending
525,538,602.32 12,992,824.18 33,929,753.06 34,089,887.12 606,551,066.68
book value
2. Opening
533,013,271.77 14,018,953.12 30,609,777.23 21,664,220.92 599,306,223.04
book value
Ratio of the intangible assets from internal R&D in balance of intangible assets at period-end
(2) Land use rights without certificate of ownership
In RMB/CNY
Reasons for without the property
Item Book value
certification
Land use right 34,305,035.82 Still under processing
Other explanation:
17. Goodwill
(1) Goodwill Original book value
In RMB/CNY
The invested Opening Current increased Current decreased Ending balance
154
深圳市深粮控股股份有限公司 2021 年半年度报告全文
entity or balance
Formed by
matters
business Dispose
forming
combination
goodwill
Yunnan Pu’er
Tea Trading
673,940.32 673,940.32
Center Co.,
Ltd.
Total 673,940.32 673,940.32
(2) Goodwill impairment provision
In RMB/CNY
The invested Current increased Current decreased
entity or
Opening
matters Ending balance
balance Accrual Dispose
forming
goodwill
Yunnan Pu’er
Tea Trading
673,940.32 673,940.32
Center Co.,
Ltd.
Total 673,940.32 673,940.32
Relevant information about the assets group or portfolio goodwill included
Note: In May 2016, the 15% equity of Pu’er Tea Trading Center held by Yunnan Heng Feng Xiang Investment Co., Ltd was acquired
by Ju Fang Yong Holding, the sub-subsidiary of the Company, after completion of the acquisition, the Company has control over the
Pu’er Tea Trading Center. The balance between the combined cost and the fair value of net assets on the combining date formed
goodwill of RMB 673,940.32. As of June 30, 2021, the impairment provision has been fully accrued.
Instructions for goodwill impairments test process and key parameters (such as the forecast period growth rate, stable period growth
rate, profit rate, discount rate, and forecast period when estimating the present value of the future cash flow), and the method of
confirming the impairment loss of goodwill:
Impact of goodwill impairment test
Other explanation
18. Long-term expenses to be apportioned
In RMB/CNY
Current amount Current
Item Opening balance Other decreased Ending balance
increased amortization
Improve 12,887,591.23 2,760,426.27 1,820,244.87 13,827,772.63
155
深圳市深粮控股股份有限公司 2021 年半年度报告全文
expenditure for fix
assets
Decoration fee 8,966,668.26 845,069.45 7,186,859.67 2,624,878.04
Improve
expenditure for
4,285,771.94 160,095.18 4,125,676.76
investment real
estate
Affiliated project
of resident area in
96,739.87 13,191.78 83,548.09
Wuyuan Ju Fang
Yong
Other 5,495,553.71 3,853,942.89 778,761.01 8,570,735.59
Total 31,732,325.01 7,459,438.61 9,959,152.51 29,232,611.11
Other explanation
19. Deferred income tax asset /Deferred income tax liabilities
(1) Deferred income tax assets without offset
In RMB/CNY
Ending balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Impairment provision
67,113,321.86 16,501,454.23 67,113,321.86 16,501,454.23
for assets
Unrealized profits in
3,488,612.52 872,153.13 3,078,755.60 769,722.53
internal transactions
Deductible loss 53,846.20 13,461.55 53,846.20 13,461.55
Credit impairment loss 96,768,909.47 24,063,313.81 96,768,909.47 24,063,313.81
Total 167,424,690.05 41,450,382.72 167,014,833.13 41,347,952.12
(2) Deferred income tax liability without offset
In RMB/CNY
Ending balance Opening balance
Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
Asset evaluation
increment of enterprise 47,772,705.72 11,943,176.43 48,600,140.52 12,150,035.13
combine under
156
深圳市深粮控股股份有限公司 2021 年半年度报告全文
different control
Total 47,772,705.72 11,943,176.43 48,600,140.52 12,150,035.13
(3) Deferred income tax assets and deferred income tax liabilities listed after off-set
In RMB/CNY
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Item deferred income tax
assets or liabilities assets and liabilities at assets or liabilities
assets and liabilities
after off-set period-begin after off-set
Deferred income tax
41,450,382.72 41,347,952.12
asset
Deferred income tax
11,943,176.43 12,150,035.13
liabilities
(4) Details of uncertain deferred income tax assets
In RMB/CNY
Item Ending balance Opening balance
Deductible temporary differences 226,433,711.65 183,270,008.13
Deductible loss 363,628,773.68 351,368,763.83
Total 590,062,485.33 534,638,771.96
20. Other non-current asset
In RMB/CNY
Ending balance Opening balance
Item Book Impairment Book Impairment
Book value Book value
balance provision balance provision
Prepaid for equipment 611,965.84 611,965.84 611,965.84 611,965.84
1,864,208. 1,864,208.
Prepaid for system 723,950.00 723,950.00
49 49
1,335,915. 1,335,915. 2,476,174. 2,476,174.
Total
84 84 33 33
Other explanation:
157
深圳市深粮控股股份有限公司 2021 年半年度报告全文
21. Short-term loans
(1) Category
In RMB/CNY
Item Ending balance Opening balance
Loan in credit 1,212,686,540.73 110,318,727.12
Total 1,212,686,540.73 110,318,727.12
Explanation on category of short-term loans:
22. Account payable
(1) Account payable
In RMB/CNY
Item Ending balance Opening balance
Trade accounts payable 488,144,451.37 221,632,903.56
Account payable for engineering 208,126,202.35 254,410,372.45
Other 6,902,635.22 4,853,241.63
Total 703,173,288.94 480,896,517.64
23. Accounts received in advance
(1) Accounts received in advance
In RMB/CNY
Item Ending balance Opening balance
Other 4,961,036.19 3,376,262.66
Total 4,961,036.19 3,376,262.66
24. Contract liabilities
In RMB/CNY
Item Ending balance Opening balance
Sales price 149,884,356.62 108,975,866.82
Total 149,884,356.62 108,975,866.82
Amount and reasons for important changes of book value in the period
In RMB/CNY
Item Amount changed Reasons of changes
158
深圳市深粮控股股份有限公司 2021 年半年度报告全文
25. Wage payable
(1) Wage payable
In RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
I. Short-term
243,040,453.26 141,910,030.56 171,001,148.83 213,949,334.99
compensation
II. After-service
welfare-defined 16,738,931.80 9,088,085.58 7,683,026.68 18,143,990.70
contribution plans
III. Dismissed welfare 735,174.60 350,981.09 326,270.30 759,885.39
Total 260,514,559.66 151,349,097.23 179,010,445.81 232,853,211.08
(2) Short-term compensation
In RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
1. Wage, bonus,
234,356,069.74 122,448,450.33 149,519,388.07 207,285,132.00
allowance and subsidy
2. Employees’ welfare 156,952.35 7,245,636.48 7,402,588.83
3. Social insurance
198,640.24 3,094,989.14 3,245,891.24 47,738.14
charges
Including:
medical insurance 115,400.07 2,834,293.35 2,937,215.78 12,477.64
premium
Industrial injury
1,267.41 115,193.44 116,406.64 54.21
insurance premiums
Maternity
40,586.98 145,502.35 150,883.04 35,206.29
insurance premiums
Other 41,385.78 41,385.78
4. Housing public
61,858.47 6,818,628.30 6,871,039.80 9,446.97
reserve
5. Trade union fee and
8,266,932.46 2,302,326.31 3,962,240.89 6,607,017.88
education fee
Total 243,040,453.26 141,910,030.56 171,001,148.83 213,949,334.99
(3) Defined contribution plans
In RMB/CNY
159
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Item Opening balance Current increased Current decreased Ending balance
1. Basic endowment
393,107.74 6,959,588.97 7,135,906.32 216,790.39
insurance premiums
2. Unemployment
975.41 96,724.58 97,699.99
insurance premiums
3. Enterprise annuity 16,344,848.65 2,031,772.03 449,420.37 17,927,200.31
Total 16,738,931.80 9,088,085.58 7,683,026.68 18,143,990.70
Other explanation:
26. Taxes payable
In RMB/CNY
Item Ending balance Opening balance
VAT 2,646,968.62 2,792,128.64
Enterprise income tax 10,869,915.24 59,929,311.33
Personal income tax 8,865,349.38 975,572.27
Urban maintenance and construction tax 109,791.27 117,101.01
House property tax 5,091,298.35 1,041,691.54
Educational surtax 71,345.31 84,670.40
Use tax of land 774,044.06 191,383.02
Stamp tax 467,780.06 1,066,139.48
Other 123,281.57 42,509.76
Deed tax 664,227.84 664,227.84
Total 29,684,001.70 66,904,735.29
Other explanation:
27. Other account payable
In RMB/CNY
Item Ending balance Opening balance
Dividend payable 2,933,690.04 2,933,690.04
Other account payable 435,107,165.74 394,392,029.46
Total 438,040,855.78 397,325,719.50
(1) Dividend payable
In RMB/CNY
160
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Item Ending balance Opening balance
Shenzhen Investment Management
2,690,970.14 2,690,970.14
Company
Unmanaged shares 242,719.90 242,719.90
Total 2,933,690.04 2,933,690.04
Other explanation, including important dividend payable over one year without payment, disclose reasons for un-paid:
(2) Other account payable
1) By nature
In RMB/CNY
Item Ending balance Opening balance
Engineering quality retention money and
1,056,043.07 737,356.67
fund of tail
Deposit and margin 113,796,045.40 191,086,945.49
Intercourse funds and other 319,443,401.51 191,229,002.98
Drawing expenses in advance 811,675.76 11,338,724.32
Total 435,107,165.74 394,392,029.46
2) Significant other account payable with over one year age
In RMB/CNY
Item Ending balance Reasons of outstanding or carry-over
Shenzhen Food Materials Group Co., The settlement conditions have not yet
146,162,941.72
Ltd been met
Total 146,162,941.72 --
Other explanation
28. Non-current liabilities due within one year
In RMB/CNY
Item Ending balance Opening balance
Long-term loans due within one year 137,873,648.25 104,225,183.07
Total 137,873,648.25 104,225,183.07
Other explanation:
161
深圳市深粮控股股份有限公司 2021 年半年度报告全文
29. Other current liabilities
In RMB/CNY
Item Ending balance Opening balance
VAT payable 2,329,512.69
Other 4,920,907.99
Total 7,250,420.68
Change of short-term bonds payable:
In RMB/CNY
Premiu
Accrual m and
Openin Issued Paid in
Face Issuanc Bonds Amoun interest discoun Ending
Bonds g in the the
value e date term t issued by face t balance
balance period period
value amortiz
ation
Other explanation: nil
30. Long-term loans
(1) Category
In RMB/CNY
Item Ending balance Opening balance
Mortgage + guarantee 805,594,327.98 841,864,531.75
Total 805,594,327.98 841,864,531.75
Explanation on category of long-term loans:
Other explanation, including interest rate range:
31. Lease liability
In RMB/CNY
Item Ending balance Opening balance
Lease payment 91,245,488.14 2,329,027.97
Total 91,245,488.14 2,329,027.97
Other explanation
32. Long-term account payable
In RMB/CNY
Item Ending balance Opening balance
162
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Special account payable 17,023,270.19 16,126,146.20
Total 17,023,270.19 16,126,146.20
(1) Special account payable
In RMB/CNY
Item Opening balance Current increased Current decreased Ending balance Causes
Depreciation fund
16,126,146.20 897,123.99 17,023,270.19
for grain deposits
Total 16,126,146.20 897,123.99 17,023,270.19 --
Other explanation:
Note: the finance allocated to the Company as a government investment in depreciation special funds of reserve grain depot and
interest.
33. Accrual liabilities
In RMB/CNY
Item Ending balance Opening balance Causes
External guarantee 3,500,000.00 3,500,000.00
Total 3,500,000.00 3,500,000.00 --
Other explanation, including relevant important assumptions and estimation:
Note: According to the civil judgment made by the Shenzhen Intermediate People’s Court, in the disputes over loan contract between
Changzhou Shenbao Chacang Electronic Commerce Co., Ltd. and Shenzhen Agricultural Products Financing Guarantee Co., Ltd.,
the Company shall assume joint and several liabilities for repayment of the debts of Changzhou Shenbao Chacang Electronic
Commerce Co., Ltd. within the scope of 3.5 million yuan.
34. Deferred income
In RMB/CNY
Item Opening balance Current increased Current decreased Ending balance Causes
Government
100,710,038.32 5,660,000.00 3,271,095.25 103,098,943.07
subsidies
Total 100,710,038.32 5,660,000.00 3,271,095.25 103,098,943.07 --
Item with Government subsidy involved:
In RMB/CNY
Amount Amount Cost
New grants Assets-rela
Opening reckoned in reckoned in reduction Other Ending
Liability in the ted/income
balance non-operati other in the changes balance
Period related
on revenue income period
163
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Governme
nt central
4,710,782. 5,660,000. 9,663,937. Assets-rela
governmen 706,844.69
45 00 76 ted
t grant
funds
Intelligent
manageme
nt of grain
Assets-rela
depot 466,666.56 100,000.02 366,666.54
ted
based on
mobile
internet
Special
funds for
intelligent
upgrading
and
10,922,083 10,444,583 Assets-rela
transformat 477,499.98
.35 .37 ted
ion of grain
warehouse
“Grain
Safety
Project”
Subsidy for
supply
system
Assets-rela
constructio 350,000.00 100,000.00 250,000.00
ted
n of
agricultural
products
Agricultura
l product
safety
testing
project of
the special Assets-rela
342,000.00 171,000.00 171,000.00
fund for ted
agricultural
developme
nt - Central
investment
fund
164
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Special
fund for
agricultural
developme
nt -
agricultural
product
safety
testing Assets-rela
164,000.00 82,000.00 82,000.00
project- ted
capacity
building of
the third
party
inspection
institution
expansion
evaluation
Constructio
n of O2O
community
sales
service
system for
1,712,259. 1,692,971. Assets-rela
high 19,288.02
12 10 ted
quality
grain and
oil based
on B2C
E-commerc
e platform
Industrializ
ation of
Assets-rela
Doximi 978,281.14 368,210.28 610,070.86
ted
E-commerc
e platform
Grain
storage
project of
7,717,903. 7,586,775. Assets-rela
Dongguan 131,128.56
59 03 ted
Shenliang
Logistics
Co., Ltd. -
165
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Storage A
Phase II of
grain
storage
project of
30,906,098 30,390,448 Assets-rela
Dongguan 515,650.26
.48 .22 ted
Shenliang
Logistics
Co., Ltd.-
Storage B
Grain, oil
and food
headquarte
rs and
innovative
public 18,000,000 18,000,000 Assets-rela
service .00 .00 ted
platform of
Dongguan
Shenliang
Logistics
Co., Ltd.
Constructio
n of
450000 ton
silos and
60000 ton 16,830,624 16,814,113 Assets-rela
16,511.22
film silos .65 .43 ted
-CDE
warehouse.
Gas storage
bin
Base of
further
processing Assets-rela
550,000.00 137,500.02 412,499.98
for tea and ted
nature
plants
Special
fund for
2,836,474. 2,660,870. Assets-rela
the 175,604.52
79 27 ted
developme
nt of
166
深圳市深粮控股股份有限公司 2021 年半年度报告全文
strategic
emerging
industries
in
Shenzhen
Industrializ
ation of 1,691,244. 1,593,021. Assets-rela
98,222.94
instant tea 91 97 ted
powder
Enterprise
technology
center is a
municipal
R&D
center.
1,579,251. 1,477,239. Assets-rela
Subsidies 102,012.24
97 73 ted
for
industrial
technologic
al
advanceme
nt
Grant for
key
technology
research
Assets-rela
and 124,521.17 7,122.48 117,398.69
ted
industrializ
ation of
instant tea
powder
Constructio
n amount
for 50 tons
for clearly Assets-rela
249,999.94 62,500.02 187,499.92
processing ted
for
Mingyou
tea
Project
grants for Assets-rela
53,846.20 53,846.20
years for ted
agricultural
167
深圳市深粮控股股份有限公司 2021 年半年度报告全文
district,
Xihu Zone
Commercia
l
circulation Assets-rela
524,000.00 524,000.00
developme ted
nt project
funding
100,710,03 5,660,000. 3,271,095. 103,098,94
Total
8.32 00 25 3.07
Other explanation:
35. Share capital
In RMB/CNY
Increased (decreased) in this period+, -
Shares
Opening Ending
New shares converted
balance Bonus shares Other Subtotal balance
issued from public
reserve
1,152,535,25 1,152,535,25
Total shares
4.00 4.00
Other explanation:
36. Capital public reserve
In RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Capital premium
(Share capital 1,413,996,347.50 160,572,715.62 1,253,423,631.88
premium)
Other capital reserve 8,896,381.86 8,896,381.86
Total 1,422,892,729.36 160,572,715.62 1,262,320,013.74
Other instructions, including changes in the current period, reasons for the change:
37. Surplus public reserve
In RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Statutory surplus
382,367,575.37 382,367,575.37
reserves
168
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Total 382,367,575.37 382,367,575.37
Other explanation, including changes and reasons for changes:
38. Retained profit
In RMB/CNY
Item Current period Last period
Retained profit at the end of the previous year
1,637,536,441.03 1,495,135,080.60
before adjustment
Total retained profit at the beginning of the
1,637,536,441.03 1,495,135,080.60
previous year before adjustment
Add: net profit attributable to shareholder of
243,846,874.76 210,738,686.12
parent company
Common stock dividends payable 230,507,050.80 230,507,050.80
Retained profit at period-end 1,650,876,264.99 1,475,366,715.92
Details about adjusting the retained profits at the beginning of the period:
1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the retained
profits at the beginning of the period amounting to 0 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the period amounting to 0 Yuan.
3) The major accounting error correction affects the retained profits at the beginning of the period amounting to 0 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the period amounting to 0 Yuan.
5) Other adjustments affect the retained profits at the beginning of the period amounting to 0 Yuan
39. Operating income and operating cost
In RMB/CNY
Current period Last period
Item
Income Cost Income Cost
Main business 5,259,568,275.95 4,649,191,683.41 4,738,760,181.96 4,218,999,878.26
Other business 2,620,904.58 1,205,387.26 1,668,040.14 403,950.54
Total 5,262,189,180.53 4,650,397,070.67 4,740,428,222.10 4,219,403,828.80
Information relating to revenue:
In RMB/CNY
Category Branch 1 Branch 2 Total
Including:
Including:
Including:
Including:
169
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Including:
Including:
Including:
Information relating to performance obligations:
Nil
Information related to the transaction price apportioned to the remaining performance obligations:
The amount of income corresponding to the performance obligations that have been signed at the end of this reporting period but
have not yet been fulfilled or have not done with fulfillment is 149,884,356.62 yuan, among them, 149,884,356.62 yuan of revenue is
expected to be recognized in 2021.
Other explanation
40. Tax and surcharges
In RMB/CNY
Item Current period Last period
Consumption tax 544,486.02 393,095.87
Urban maintenance and construction tax 411,731.33 293,482.34
House property tax 4,225,156.71 2,332,175.04
Use tax of land 945,095.60 871,580.42
Vehicle and vessel use tax 8,953.20
Stamp duty 826,252.63 385,415.59
Other 7,604.36 58,669.28
Total 6,969,279.85 4,334,418.54
Other explanation:
41. Sales expenses
In RMB/CNY
Item Current period Last period
Labor and social security benefits 40,890,403.82 32,804,986.80
Port terminal fee 29,316,408.89 19,474,717.84
Handling charges 4,291,965.96 4,882,744.12
Depreciation and amortization of
6,730,728.23 6,518,839.48
long-term assets
Equivalent loss for low value perishable
2,408,636.91 935,717.93
goods
After-sale services 2,359,846.00 789,476.48
Utilities and office expenses 2,848,894.71 2,350,318.50
170
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Rental 2,942,783.48 2,577,208.22
Logistics transportation fee 2,180,760.95 28,612,496.12
Travel expenses 1,101,872.85 779,656.28
Sales commission 230,219.20 248,538.85
Business hospitality 799,812.28 527,170.78
Advertisement charge 790,841.41 363,244.31
Property insurance premium 631,971.43 82,506.02
Automobile expenses 296,086.85 317,274.99
Other 8,890,543.80 8,531,801.39
Total 106,711,776.77 109,796,698.11
Other explanation:
42. Administration expenses
In RMB/CNY
Item Current period Last period
Labor and social security benefits 74,829,904.07 69,229,045.12
Depreciation and amortization of
12,401,821.37 13,292,796.12
long-term assets
Office expenses 5,946,658.73 3,701,673.55
Intermediary agency fee 3,127,140.25 2,140,781.77
Rental 2,049,677.28 1,468,092.89
Business hospitality 776,421.99 1,164,075.59
Relocation and shutdown costs 419,391.74
Travel expenses 721,643.56 552,462.94
Repair cost 311,482.72 693,712.09
Communication fee 602,782.52 520,417.29
Vehicle usage fee 458,887.95 546,606.17
Low-value consumables 66,494.16 179,389.99
Other 7,603,787.31 8,285,912.43
Contract compensation 63,494.58
Total 109,316,093.65 101,838,460.53
Other explanation:
43. R&D expenses
In RMB/CNY
171
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Item Current period Last period
Labor and social security benefits 7,052,838.34 4,299,743.55
Depreciation cost 2,141,451.05 1,678,787.85
Logistics consumption 350,852.23 80,752.32
Office expenses 559,237.89 146,085.41
Maintenance and inspection fee 190,595.59 11,870.89
Travel expenses 350,496.63 82,848.06
Automobile expenses 27,522.00
Intermediary fees 18,883.02
Other 234,141.40 1,068,684.60
Total 10,926,018.15 7,368,772.68
Other explanation:
44. Financial expenses
In RMB/CNY
Item Current period Last period
Interest expenses 15,362,400.04 7,410,693.33
Less: Interest income 765,002.68 1,735,133.50
Exchange loss 152,194.11 -54,764.94
Other 2,455,183.05 534,417.72
Total 17,204,774.52 6,155,212.61
Other explanation:
45. Other income
In RMB/CNY
Sources Current period Last period
Government subsidies related to asset 3,271,095.25 2,055,335.31
Government subsidies related to income 1,004,197.50 8,769,224.86
Collectively deduction for input tax 294,887.24
Withholding personal income tax
321,549.63
handling fee
Direct VAT exemption 199.68
Total 4,891,929.30 10,824,560.17
172
深圳市深粮控股股份有限公司 2021 年半年度报告全文
46. Investment income
In RMB/CNY
Item Current period Last period
Long-term equity investment income
440,179.67 366,989.43
measured by equity
Investment income from disposal of
2,337,075.95
long-term equity investment
Income from financial products 3,061,191.63 7,544,998.92
Total 3,501,371.30 10,249,064.30
Other explanation:
47. Income of fair value changes
In RMB/CNY
Sources Current period Last period
Tradable financial assets 288,972.32 -572,784.42
Total 288,972.32 -572,784.42
Other explanation:
48. Credit impairment loss
In RMB/CNY
Item Current period Last period
Loss of bad debt of other account
46,004.50 638,878.91
receivable
Loss of bad debt of account receivable -11,847.13 1,153,087.44
Total 34,157.37 1,791,966.35
Other explanation:
49. Assets impairment loss
In RMB/CNY
Item Current period Last period
II. Inventory price drop loss and contract
-111,448,173.12 -95,290,043.04
performance cost impairment loss
Total -111,448,173.12 -95,290,043.04
Other explanation:
173
深圳市深粮控股股份有限公司 2021 年半年度报告全文
50. Income from assets disposal
In RMB/CNY
Sources Current period Last period
Profit and loss on disposal of non current
8,318.64 -10,598.38
assets
Total 8,318.64 -10,598.38
51. Non-operating income
In RMB/CNY
Amount included in the
Item Current period Last period current non-recurring profit
and loss
Government subsidy 3,879.42 10,030.08 3,879.42
Profit 91,006.38 91,006.38
Other 1,532,816.76 664,790.24 1,532,816.76
Liquidated damages
683,979.26
compensation income
Total 1,627,702.56 1,358,799.58 1,627,702.56
Government subsidy reckoned into current gains/losses:
In RMB/CNY
Whether
the impact
of
Whether Assets
Issuing Issuing Property subsidies Amount of Amount of
Grants special related/Inc
subject cause type on the this period last period
subsidies ome related
current
profit and
loss
Other explanation: nil
52. Non-operating expenditure
In RMB/CNY
Amount included in the
Item Current period Last period current non-recurring profit
and loss
External donations 150,397.26 5,151,098.92 150,397.26
Inventory loss 6,532.18 6,532.18
174
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Loss of scrap from
19,868.54 35,567.38 19,868.54
non-current assets
Other 226,366.32 226,366.32
Total 403,164.30 5,186,666.30 403,164.30
Other explanation:
53. Income tax expense
(1) Income tax expense
In RMB/CNY
Item Current period Last period
Current income tax expenses 13,716,643.86 3,142,430.31
Deferred income tax expenses -309,289.30 -677,161.68
Total 13,407,354.56 2,465,268.63
(2) Adjustment process of accounting profit and income tax expenses
In RMB/CNY
Item Current period
Total profit 259,165,280.99
Income tax expenses calculated by statutory tax rate 64,791,320.25
Impact from different tax rate apply with the subsidiary -271,592.28
Effect of adjusting income tax in the previous period 5,552,660.64
Impact of non taxable income -93,461,467.46
Impact on cost, expenses and losses that unable to deducted 27,943,603.88
Unrecognized impacts of deductible temporary differences or
11,584,334.07
deductible losses on deferred income tax assets in the period
Additional deductible expenses required by tax law——Impact
-2,731,504.54
on R&D costs deduction
Income tax expenses 13,407,354.56
Other explanation
54. Annotation of cash flow statement
(1) Cash received with other operating activities concerned
In RMB/CNY
Item Current period Last period
175
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Intercourse funds and deposit 501,614,298.48 425,055,874.21
Government subsidy 6,664,197.50 13,758,224.86
Interest income 765,002.68 1,893,194.14
Other
Total 509,043,498.66 440,707,293.21
Note of cash paid with other operating activities concerned:
(2) Cash paid with other operating activities concerned
In RMB/CNY
Item Current period Last period
Intercourse funds and deposit 506,989,695.21 342,216,823.96
Operating daily expenses 80,962,607.92 103,213,558.91
Other 4,025,352.26
Total 591,977,655.39 445,430,382.87
Note of cash paid with other operating activities concerned:
(3) Cash received with other investment activities concerned
In RMB/CNY
Item Current period Last period
Performance compensation 337,500.00
Other 54,336.41
Total 54,336.41 337,500.00
Note of cash received with other investment activities concerned:
(4) Cash paid related with investment activities
In RMB/CNY
Item Current period Last period
Other 109,602.00 994,317.84
Total 109,602.00 994,317.84
Note of cash paid related with investment activities:
(5) Other cash paid related with financing activities
In RMB/CNY
Item Current period Last period
176
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Other 58,702.23
Total 58,702.23
Note of other cash paid related with financing activities:
55. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB/CNY
Supplementary information Current period Last period
1. Net profit adjusted to cash flow of
-- --
operation activities:
Net profit 245,757,926.43 212,229,860.46
Add: Impairment provision for assets 111,414,015.75 93,498,076.69
Depreciation of fixed assets, consumption
of oil assets and depreciation of productive 39,826,096.31 36,594,574.62
biology assets
Depreciation of right-of-use assets 8,663,657.57
Amortization of intangible assets 13,380,523.65 11,220,066.23
Amortization of long-term pending
9,959,152.51 2,824,888.62
expenses
Loss from disposal of fixed assets,
intangible assets and other long-term -8,318.64 10,598.38
assets (income is listed with “-”)
Losses on scrapping of fixed assets
19,868.54 35,567.38
(income is listed with “-“)
Loss from change of fair value (income is
-288,972.32 572,784.42
listed with “-“)
Financial expenses (income is listed with
15,500,789.85 7,410,693.33
“-”)
Investment loss (income is listed with “-”) -3,501,371.30 -10,249,064.30
Decrease of deferred income tax assets
-102,430.60 -470,303.13
(increase is listed with “-”)
Decrease of deferred income tax asset
-206,858.70 -206,858.55
((increase is listed with “-”)
Decrease of inventory (increase is listed
-713,312,219.22 -382,924,860.42
with “-”)
Decrease of operating receivable accounts
-557,180,868.53 129,417,912.00
(increase is listed with “-”)
177
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Increase of operating payable accounts
138,806,857.37 -90,353,574.58
(decrease is listed with “-”)
Other
Net cash flow arising from operating
-691,272,151.33 9,610,361.15
activities
2. Material investment and financing not
-- --
involved in cash flow
Conversion of debt into capital
Switching Company bonds due
within one year
financing lease of fixed assets
3. Net change of cash and cash
-- --
equivalents:
Balance of cash at period end 68,774,083.11 113,636,986.38
Less: Balance of cash at year-begin 190,494,225.94 154,954,757.85
Add: Balance at year-end of cash
equivalents
Less: Balance at year-begin of cash
equivalents
Net increasing of cash and cash
-121,720,142.83 -41,317,771.47
equivalents
(2) Constitution of cash and cash equivalent
In RMB/CNY
Item Ending balance Opening balance
I. Cash 68,774,083.11 190,494,225.94
Including: Cash on hand 100,315.03 62,642.11
Bank deposit available for payment
67,609,744.07 189,169,821.01
at any time
Other monetary fund available for
1,064,024.01 1,261,762.82
payment at any time
III. Balance of cash and cash equivalent
68,774,083.11 190,494,225.94
at period-end
Other explanation:
56. Assets with ownership or use right restricted
In RMB/CNY
178
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Item Ending book value Reasons for restriction
According to the long-term loan mortgage contract signed by the Company,
with Shenzhen Branch of Agricultural Development Bank and Huizhou
Zhongkai Sub-branch of HSBC, the Company has mortgaged the real estate
property rights of the structures of Yue (2020) Dongguan Property Right No.
0127118, Yue (2020) Dongguan Property Right No. 0127119, Yue (2020)
Fix assets 671,932,275.20
Dongguan Property Right No. 0127120, and Yue (2020) Dongguan Property
Right No.0119705 at No. 10, Jingang South Road, Machong Town, Dongguan
City and other aground buildings to Shenzhen Branch of Agricultural
Development Bank and Huizhou Zhongkai Sub-branch of HSBC in sequence as
loan collateral.
According to the loan contract Yue DG 2017 NGDZ No. 006 signed by
International Food Company and Bank of Communications Co., Ltd. Dongguan
Intangible assets 68,667,888.52 Branch, International Food Company mortgaged two pieces of land “DFGY
(2009) DT No. 190” and “DFGY (2012) DT No. 152” to Bank of
Communications Co., Ltd. Dongguan Branch as collateral for the loan.
According to the long-term loan mortgage contract signed by the Company,
with Dongguan Branch of CMB, Dongguan Logistics Company has mortgaged
Intangible assets 35,398,230.05 the real estate property rights of the structures of Yue (2016) Dongguan Property
Right No. 0028527 at No. 10, Jingang South Road, Machong Town, Dongguan
City to Dongguan Branch of CMB
Total 775,998,393.77 --
Other explanation:
57. Foreign currency monetary items
(1) Foreign currency monetary items
In RMB/CNY
Ending foreign currency Ending RMB balance
Item Convert rate
balance converted
Monetary fund -- -- 649,435.35
Including: USD 51,229.50 6.4601 330,947.69
EURO
HKD 382,751.66 0.8321 318,487.66
Account receivable -- -- 2,413,463.66
Including: USD 356,778.87 6.4601 2,304,827.18
EURO
HKD 130,557.00 0.8321 108,636.48
179
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Long-term loans -- --
Including: USD
EURO
HKD
Other explanation:
58. Government subsidy
(1) Government subsidy
In RMB/CNY
Amount reckoned into current
Category Amount Item
gains/losses
Government subsidy related
103,098,943.07 Deferred income 3,271,095.25
to assets
Government subsidy related
1,008,076.92 1,008,076.92
to income
Total 104,107,019.99 4,279,172.17
59. Other
Nil
VIII. Changes of consolidation range
1. Other reasons for consolidation range changed
Consolidation scope changes caused by other reasons (eg, newly establish subsidiaries, liquidate subsidiaries, etc.) and the related
circumstances:
During the reporting period, the Company newly established Dongguan Hualian Company
2. Other
Nil
180
深圳市深粮控股股份有限公司 2021 年半年度报告全文
IX. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main place of Registration Share-holding ratio
Subsidiary Business nature Acquired way
operation place Directly Indirectly
Shenbao
Shenzhen Shenzhen Manufacturing 100.00% Establishment
Huacheng
Wuyuan Ju
Shangrao Shangrao Manufacturing 100.00% Establishment
Fang Yong
Shenbao Tea Commercial
Shenzhen Shenzhen 100.00% Establishment
Culture trade
Ju Fang Yong Wholesale
Hangzhou Hangzhou 60.00% Establishment
Trading business
Ju Fang Yong
Hangzhou Hangzhou Comprehensive 100.00% Establishment
Holding
Fuhaitang Catering
Hangzhou Hangzhou 100.00% Establishment
Catering industry
Tea planting,
Fuhaitang
Hangzhou Hangzhou production and 100.00% Acquisition
Ecological
sales
Shenbao Rock
Wuyishan Wuyishan Manufacturing 100.00% Establishment
Tea
Pu'er Tea Wholesale
Pu’er Pu’er 100.00% Establishment
Supply Chain business
Wholesale
Shenbao Food Huizhou Huizhou 100.00% Establishment
business
Pu’er Tea Service
Pu’er Pu’er 55.00% Establishment
Trading Center industry
Shenbao Investment
Shenzhen Shenzhen 100.00% Establishment
Investment management
Shenliang Food Huizhou Shenzhen Manufacturing 100.00% Establishment
Huizhou
Huizhou Huizhou Comprehensive 100.00% Establishment
Shenbao
Shenbao Property
Shenzhen Shenzhen 100.00% Establishment
Property management
Shenbao Shenzhen Shenzhen Development, 100.00% Establishment
181
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Technology consulting and
transfer of
technology
Shenbao
Wholesale
Industry & Huizhou Shenzhen 100.00% Establishment
business
Trade
Combine under
Grain & oil
SZCG Shenzhen Shenzhen 100.00% the same
trading
control
Combine under
Hualian Grain Grain & oil
Shenzhen Shenzhen 100.00% the same
& Oil trading
control
Dongguan Grain & oil
Dongguan Dongguan 100.00% Establishment
Hualian trading
Combine under
Flour
Shenzhen Flour Shenzhen Shenzhen 100.00% the same
processing
control
Shenliang Combine under
Quality Shenzhen Shenzhen Inspection 100.00% the same
Inspection control
Combine under
Hainan Grain Feed
Haikou Haikou 100.00% the same
and Oil production
control
Combine under
Doximi Shenzhen Shenzhen E-commerce 100.00% the same
control
Sales and
Combine under
processing of
Big Kitchen Shenzhen Shenzhen 70.00% the same
grain, oil and
control
products
Combine under
Yingkou
Yingkou Yingkou Storage 100.00% the same
Storage
control
Fresh food Combine under
Cold-Chain
Shenzhen Shenzhen management 100.00% the same
Logistic
on-line control
Combine under
Shenliang Property
Shenzhen Shenzhen 100.00% the same
Property management
control
Shenliang Real Shenzhen Shenzhen Real estate 100.00% Combine under
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Estate development the same
and property control
management
Port operation, Combine under
International
Dongguan Dongguan food 51.00% the same
Food
production control
Combine under
Dongguan Food
Dongguan Dongguan 51.00% the same
Grain and Oil production
control
Combine under
Dongguan Storage,
Dongguan Dongguan 49.00% 51.00% the same
Logistics logistics
control
Construction of
food base and
Combine under
development of
Hongxinglong Shuangyashan Shuangyashan 51.00% the same
related
control
complementary
facility
Construction of
food base and
Combine under
development of
Shuangyashan Shuangyashan Shuangyashan 51.00% the same
related
control
complementary
facility
Shenliang
Shenzhen Shenzhen Catering 51.00% Establishment
Hongjun
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
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:
Major structured entity included in consolidates statement:
Basis of termination of agent or consignor:：
Other explanation:
2. Transaction that has owners equity shares changed in subsidiary but still with controlling rights
(1) Owners equity shares changed in subsidiary
During the reporting period, the 49.00% equity of Dongguan Logistics were acquired by the Company and became a wholly-owned
subsidiary of the company.
183
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(2) Impact on minority’s interest and owners’ equity attributable to parent company
In RMB/CNY
Dongguan Logistics
Purchase cost/disposal consideration 321,680,000.00
--Cash 321,680,000.00
Purchase cost/total disposal consideration 321,680,000.00
Less: Subsidiary's share of net assets calculated based on the
161,107,284.38
proportion of acquired/disposed equity
Difference 160,572,715.62
Including: Adjust the capital reserve 160,572,715.62
Other explanation
3. Equity in joint venture and associated enterprise
(1) Important joint venture or associated enterprise
Share-holding ratio Accounting
treatment on
Joint
Main place of Registration investment for
venture/Associ Business nature
operation place Directly Indirectly joint venture
ated enterprise
and associated
enterprise
Zhuhai
Hengxing Feed Aquatic fee and
Zhuhai Zhuhai 40.00% Equity method
Industrial Co., animal fee
Ltd.
Shenliang
Intelligent
Wulian Equity
Equity
Investment
investment;
Fund Shenzhen Shenzhen 49.02% Equity method
investment
(Shenzhen)
consultant
Partnership
Enterprise
(Limited)
Description of the percentage of shareholding in joint ventures or associates different from the percentage of voting rights:
Has major influence with less 20% voting rights hold, or has minor influence with over 20% (20% included) voting rights hold:
184
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(2) Main financial information of the important joint venture
In RMB/CNY
Ending balance/Current period Opening balance/Last period
Shenliang Intelligent Shenliang Intelligent
Wulian Equity Wulian Equity
Zhuhai Hengxing Feed Zhuhai Hengxing Feed
Investment Fund Investment Fund
Industrial Co., Ltd. Industrial Co., Ltd.
(Shenzhen) Partnership (Shenzhen) Partnership
Enterprise (Limited) Enterprise (Limited)
Current assets 165,853,289.04 21,012,185.03 98,242,527.52 20,459,246.10
Non current assets 27,231,124.63 32,835,895.19 29,365,806.23 33,102,244.01
Total assets 193,084,413.67 53,848,080.22 127,608,333.75 53,561,490.11
Current liabilities 111,754,886.72 510,000.00 44,972,658.51
Non current liabilities 491,358.69 537,345.69
Total liabilities 112,246,245.41 510,000.00 45,510,004.20
Shareholders' equity
attributable to the 80,838,168.26 53,338,080.22 82,098,329.55 53,561,490.11
parent company
Share of net assets
calculated by 32,335,267.30 26,146,326.93 32,839,331.82 26,255,842.45
shareholding ratio
Adjustment items 991,770.90 -174.47 162,707.80 -174.47
--Other 991,770.90 -174.47 162,707.80 -174.47
Book value of equity
investment in 33,327,038.20 26,146,152.46 33,002,039.62 26,255,667.98
associated enterprises
Operating revenue 342,054,335.50 259,095,047.79
Net profit 1,430,282.78 -223,409.89 3,337,583.11 -352,638.57
Total comprehensive
1,430,282.78 -223,409.89 3,337,583.11 -352,638.57
income
Other explanation
(3) Financial summary for non-important Joint venture and associated enterprise
In RMB/CNY
Ending balance/Current period Opening balance/Last period
Joint venture: -- --
Amount based on share-holding ratio -- --
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Associated enterprise: -- --
Total book value of investment 14,182,136.85 13,957,440.24
Amount based on share-holding ratio -- --
--Net profit 224,696.61 415,495.06
--Total comprehensive income 224,696.61 415,495.06
Other explanation
(4) Excess loss occurred in joint venture or associated enterprise
In RMB/CNY
Un-recognized losses not
Joint venture/Associated Cumulative un-recognized recognized in the Period (or Cumulative un-recognized
enterprise losses net profit enjoyed in the losses at period-end
Period)
Changzhou Shenbao Chacang
8,742,655.05 165,079.10 8,907,734.15
E-business Co., ltd.
Shenzhen Shichumingmen
Catering Management Co., 4,815,325.70 4,815,325.70
Ltd.
Other explanation
4. Other
Nil
X. Disclosure of risks relating to financial instruments
Our business operation makes the Company exposed to various financial risks: credit risk, liquidity risk and
market risk (mainly refers to exchange rate risk and interest risk). The general risk management policy of the
Company is to minimize potential negative effects on our financial performance in view of the unforeseeable
financial market.
1. Credit risk
Credit risk refers to the risk of a financial loss caused by the counter party’s failure to fulfill its contractual
obligations.
The credit risk mainly arises from monetary funds, account receivable and other account receivable so on. The
management has established adequate credit policies and continues to monitor exposure of these credit risks.
The monetary funds held by the Company are mainly deposited in state-controlled banks and other large and
medium-sized commercial banks and other financial institutions. The management believes that these commercial
banks have high reputation and asset status and have no major credit risk, and won't create any major losses
caused by the breach of contract of the opposite side.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
For account receivables and other account receivables, the Company establishes relevant policies to control
exposure of credit risk. The Company appraises customers’ credit quality based on their financial position,
possibility to obtain guarantee from third parties, credit history and other factors such as prevailing market
conditions, and set corresponding credit terms. Customers’ credit history would be regularly monitored by the
Company. For those customers who have bad credit history, the Company will call collection in written form,
shorten credit term or cancel credit term to ensure its overall credit risk is under control.
As of 30 June 2021, the account receivable from top five customers accounted for 77.02% of the Company’s total
account receivable.
The maximum credit risk exposure equals to the carrying value of each financial asset in balance sheet (including
derivative financial instrument). The Company has not provided any guarantee which would otherwise make the
Company exposed to credit risk except for the financial guarantee carried in Note “X. Related party and related
transaction”
2. Liquidity risk
Liquidity risk refers to the risk that a company will run short of funds to meet its obligations settled by delivering
cash or other financial assets.
The finance department continues to monitor capital requirement for short and long term, to ensure adequate cash
reserve. In addition, it continues to monitor whether borrowing agreement is complied with, and seeks for
commitment from major financial institutions for provision of sufficient back-up fund, so as to satisfy capital
requirement in a short and long term.
3. Market risk
The market risk of financial instruments refers to the risk that the fair value or future cash flows of financial
instruments will fluctuate due to changes in market prices, including exchange rate risk, interest rate risk and other
price risks.
(1) Interest risk
Interest rate risk refers to the risk that the fair value or future cash flows of financial instruments will fluctuate due
to changes in market interest rates. The Company determines the relative proportions of fixed interest rate and
floating interest rate contracts based on the prevailing market environment.
The financial department of the Company continuously monitors the interest rate of the Company. The rise in
interest rates will increase the cost of new interest-bearing debts and the interest expense of the Company’s unpaid
interest-bearing debts with floating interest rates, management will make timely adjustments based on the latest
market conditions.
(2) Exchange rate risk
Exchange rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to
the changes in foreign exchange rates.
187
深圳市深粮控股股份有限公司 2021 年半年度报告全文
The major operation of the Company is located in the PRC, and its major operation is settled in Renminbi.
However, there is also exchange risk in respect of the recognized foreign currency assets and liabilities and future
foreign currency transactions which are mainly denominated in US dollar. Our finance department is responsible
for monitoring scale of foreign currency assets and liabilities and foreign currency transactions, to minimize its
exposure to exchange risks. In reporting period, the Company did not sign forward exchange contract or monetary
exchange contract.
The foreign exchange risk faced by the company mainly comes from financial assets and financial liabilities
denominated in US dollars. For the amount of foreign currency financial assets and foreign currency financial
liabilities converted into RMB, please refer to Note (57) Foreign Currency Monetary Items of VII. Consolidated
Financial Statement.
(3) Other price risk
Other price risk refers to the risk that the fair value or future cash flow of financial instruments will fluctuate due
to changes in market prices other than exchange rate risk and interest rate risk.
The Company purchases and sells products at market prices, therefore it is affected by fluctuation of these prices.
XI. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured by fair value
In RMB/CNY
Ending fair value
Item
First-order Second-order Third-order Total
I. Sustaining measured
-- -- -- --
by fair value
1.Financial assets
measured by fair value
and with variation 910,778.83 910,778.83
reckoned into current
gains/losses
(2) Equity instrument
910,778.83 910,778.83
investment
Other non-current
57,500.00 57,500.00
financial assets
II. Non-persistent
-- -- -- --
measure
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
2. Other
Nil
XII. Related party and related transactions
1. Parent company
Ratio of Ratio of voting
Parent company Registration place Business nature Registered capital shareholding on right on the
the Company Company
Investing in
industry,
Shenzhen Food
development,
Materials Group Shenzhen 5000 million Yuan 63.79% 63.79%
operation and
Co., Ltd
management of
the own property
Explanation on parent company of the enterprise
Ultimate controller of the Company is Shenzhen Municipal People’s Government State-owned Assets Supervision & Administration
Commission
Ultimate controller of the Enterprise is Shenzhen Municipal People’s Government State-owned Assets Supervision & Administration
Commission。
Other explanation:
2. Subsidiary
Subsidiary of the Company found more in Note "1. Equity in subsidiaries" of Note IX-Equity in other entity
3. Joint venture and associated enterprise
Joint Venture of the Company found more in Note "3. Equity in joint arrangement or joint venture" of Note IX-Equity in other entity
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in previous
period:
Joint venture/Associated enterprise Relationship with the Enterprise
Other explanation
4.Other related party
Other related party Relationship with the Enterprise
Shareholder of the Company, subsidiary of the actual
Shenzhen Agricultural Products Group Co., Ltd
controller, controlled by the same ultimate controlling party
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Subsidiary of the actual controller, Controlled by the same
Zhanjiang Haitian Aquatic Feed Co., Ltd
ultimate controlling party
Dongguan Fruit Vegetable Non-staple Food Trading Market
Minority shareholder of controlling subsidiary
Co., Ltd.
Subsidiary of the actual controller, Controlled by the same
Taizhong Agricultural Co., Ltd
ultimate controlling party
Former shareholder of the Company, Controlled by the same
Shenzhen Investment Holdings Co., Ltd.
ultimate controlling party
Former shareholder of the Company, Controlled by the same
Shenzhen Investment Management Co., Ltd
ultimate controlling party
Fujian Wuyishan Yuxing Tea Co., Ltd Minority shareholder of former controlling subsidiary
Wholly-owned subsidiary of Shenzhen Agricultural Products
Shenzhen Fruits and Vegetables Trading Co., Ltd
Group Co., Ltd
Shenzhen Higreen International Agricultural Products Logistic Controlling subsidiary of Shenzhen Agricultural Products
Management Co., Ltd Group Co., Ltd
Zhanjiang Changshan (Shenzhen) Ecological Aquaculture Co.,
Has the same parent company
Ltd
Shenzhen Shenliang Cold Transport Co., Ltd. Holding subsidiary of the company's associated enterprise
Former shareholder of Shenzhen Agricultural Products Group
Shenzhen Yixin Investment Co., Ltd
Co., Ltd, Controlled by the same ultimate controlling party
Guangxi Higreen Agricultural Products International Logistics Wholly-owned subsidiary of Shenzhen Agricultural Products
Co., Ltd. Group Co., Ltd
Controlling subsidiary of Shenzhen Agricultural Products
Guangxi Higreen Business Management Co., Ltd.
Group Co., Ltd
Controlling subsidiary of Shenzhen Agricultural Products
Shenzhen Qianhai Nongmai World E-Commerce Co., Ltd
Group Co., Ltd
Wholly-owned subsidiary of Shenzhen Agricultural Products
Shenzhen Shennong Kitchen Co., Ltd
Group Co., Ltd
Other explanation
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB/CNY
Related Whether more than
Approved
Related party transaction Current Period the transaction limit Last Period
transaction limit
content (Y/N)
190
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Shenzhen
Warehousing
Shenliang Cold
Services/Transp 25,982.95 178,503.88
Transport Co.,
ortation services
Ltd.
Shenzhen
Information
Shenyuan Data
software 18,675,417.45 5,290,531.23
Technology Co.,
development
ltd.
Shenzhen Food
Asset
Materials Group 20,809.52
management
Co., Ltd
Goods sold/labor service providing
In RMB/CNY
Related party Related transaction content Current period Last period
Shenzhen Duoxi Equity
Grain and oil
Investment Fund 11,320.74
sales/Cleaning services fee
Management Co., Ltd.
Shenzhen Agricultural
Grain and oil sales 52,800.00
Products Group Co., Ltd
Shenzhen Shenliang Cold Grain and oil
125,643.48
Transport Co., Ltd. sales/Warehousing Services
Shenzhen Shennong Kitchen
Grain and oil sales 251,262.00
Co., Ltd
Shenzhen Food Materials
Asset management 62,894.66
Group Co., Ltd
Explanation on goods purchasing, labor service providing and receiving
(2) Related lease
As a lessor for the Company:
In RMB/CNY
Lease income recognized in Lease income recognized last
Lessee Assets type
the Period Period
Shenzhen Shichumingmen
Catering Management Co., Operating site 580,466.28
Ltd.
As lessee:
In RMB/CNY
Lease income recognized in Lease income recognized last
Lessor Assets type
the Period Period
191
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Shenzhen Food Materials
Office space 268,542.85
Group Co., Ltd
Explanation on related lease
(3) Related guarantee
As guarantor
In RMB/CNY
Whether the guarantee
Secured party Guarantee amount Guarantee start date Guarantee expiry date
has been fulfilled
Changzhou Shenbao
Chacang E-business 5,000,000.00 December 20, 2011 No
Co., ltd.
As secured party
In RMB/CNY
Whether the guarantee
Guarantor Guarantee amount Guarantee start date Guarantee expiry date
has been fulfilled
Dongguan Fruit
Vegetable Non-Staple
28,031,499.73 December 27, 2016 December 26, 2021 No
Food Trading Market
Co., Ltd.
Dongguan Fruit
Vegetable Non-Staple
299,915,049.97 July 27, 2018 August 29, 2032 No
Food Trading Market
Co., Ltd.
Dongguan Fruit
Vegetable Non-Staple
18,587,157.80 October 20, 2020 October 19, 2034 No
Food Trading Market
Co., Ltd.
Dongguan Fruit
Vegetable Non-Staple
40,369,672.45 May 9, 2019 May 8, 2027 No
Food Trading Market
Co., Ltd.
Explanation on related guarantee
6. Receivable and payable of related party
(1) Receivable item
In RMB/CNY
Item Name Related party Ending balance Opening balance
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Book balance Bad debt provision Book balance Bad debt provision
Account
receivable
Shenzhen
Shenliang Cold 164,402.16 7,029.57 113,286.17 7,029.57
Transport Co., Ltd.
Shenzhen
Shennong Kitchen 23,082.00 636.72 63,672.00 636.72
Co., Ltd
Shenzhen Duoxi
Equity Investment
8,701.00 87.01
Fund Management
Co., Ltd.
Shenzhen Qianhai
Nongmai World
38,259.42 382.59
E-Commerce Co.,
Ltd
Shenzhen Food
Materials Group 87,524.34 7,408.78 740,878.31 7,408.78
Co., Ltd
Shenzhen
Agricultural
2,328.00 25.98 2,598.00 25.98
Products Group
Co., Ltd
Other account
receivable
Shenzhen
Shenliang Cold 578.00 5.78 578.00 5.78
Transport Co., Ltd.
Shenzhen Higreen
International
Agricultural
50,000.00 50,000.00
Products Logistic
Management Co.,
Ltd
Zhanjiang
Changshan
(Shenzhen)
5,520.00 5,520.00 5,520.00 5,520.00
Ecological
Aquaculture Co.,
Ltd
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Shenzhen
Shenyuan Data
1,000,377.35 10,003.77 8,972,895.54 89,728.96
Technology Co.,
ltd.
Changzhou
Shenbao Chacang
24,384,884.84 21,963,786.56 24,494,677.07 22,007,578.79
E-business Co.,
ltd.
Shenzhen
Shichumingmen
Catering 2,092,197.67 581,383.34 2,092,197.67 581,383.34
Management Co.,
Ltd.
Shenzhen
Investment 415,644.52 415,644.52
Holdings Co., Ltd.
(2) Payable item
In RMB/CNY
Item Name Related party Ending book balance Opening book balance
Dividend payable
Shenzhen Investment
2,690,970.14 2,690,970.14
Management Co., Ltd
Other account payable
Shenzhen Shenliang Cold
2,790.00 2,790.00
Transport Co., Ltd.
Shenzhen Food Materials
146,234,653.72 146,520,998.86
Group Co., Ltd
Zhanjiang Changshan
(Shenzhen) Ecological 8,020,367.87 8,009,954.17
Aquaculture Co., Ltd
Shenzhen Duoxi Equity
Investment Fund 41,486.00 41,486.00
Management Co., Ltd.
Shenzhen Shichumingmen
Catering Management Co., 184,275.00 184,275.00
Ltd.
Shenzhen Investment
3,510,297.20 3,510,297.20
Management Co., Ltd
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Account received in advance
Shenzhen Shenliang Cold
210.00
Transport Co., Ltd.
7. Other
Nil
XIII. Commitment or contingency
1. Important commitments
Important commitments on balance sheet date
The Company has no important commitments that need to disclosed up to 30 June 2021.
2. Contingency
(1) Contingency on balance sheet date
1. Lawsuits
(1) Contract disputes between Hualian Grain and Oil and Zhuhai Huabi
For the contract disputes between the plaintiff, Shenzhen Hualian Grain and Oil Trading Co., Ltd. (hereinafter
referred to as "Hualian Grain and Oil"), and the defendant, Zhuhai Doumen Huabi Trading Co., Ltd. (hereinafter
referred to as "Zhuhai Huabi"), the People's Court of Luohu District in Shenzhen made a first-instance judgment
that took effect in 2007: 1) The defendant should repay the plaintiff payment for goods of 2,396,300 yuan; 2) The
defendant should pay the plaintiff liquidated damages of 239,600 yuan; 3) Court acceptance fee of 33,200 yuan
should be borne by the defendant.
In 2005, Zhuhai Huabi stopped production and its legal representative was arrested by the public security organs.
It was found that Zhuhai Huabi had been cancelled.
As of June 30, 2021, Hualian Grain and Oil has set aside 100.00% of bad debt reserves for the receivables of
2,396,300 yuan from Zhuhai Huabi.
(2) Contract disputes between Hualian Grain & Oil and Huaxing Feed Factory
In August and October 2007, Shenzhen Hualian Grain and Oil Trading Co., Ltd. (Hereinafter referred to as "
Hualian Grain and Oil") sold products to Foshan Shunde Huaxing Feed Factory and received commercial
acceptance bills totaling 2,958,600 yuan. Due to the company’s failure to repay the overdue payment, Hualian
Grain & Oil filed a lawsuit with the Shunde District People’s Court of Foshan City on October 29, 2007,
requesting Foshan Shunde Huaxing Feed Factory to repay the payment and pay the corresponding interest. From
June to July 2011, a total of 1,638,900 yuan of the company’s bankruptcy assets was recovered. As of 30 June
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
2021, Hualian Grain & Oil had a receivable payment of 1,319,700 yuan from Foshan Shunde Huaxing Feed
Factory. This amount has been withdrawn bad debt reserves by 100.00%.
(3) Mung bean business disputes between SZCG and Shengda Company
The agency contract disputes between the plaintiff, Shenzhen Cereals Group Co., Ltd. (hereinafter referred to as
"SZCG") and the defendant, Jilin Tongyu County Shengda Company (hereinafter referred to as "Shengda
Company") was filed and accepted by the People's Court of Futian District, Shenzhen City on August 26, 2010.
After mediation, both parties voluntarily reached a mediation agreement: 1) It is confirmed that the defendant
Shengda Company still owes the plaintiff SZCG the repurchase amount of 7.492 million yuan and the interest of
the repurchase amount of 2.8 million yuan before September 3, 2009. 2) The defendant Shengda Company shall
pay the first payment of 1 million yuan to the plaintiff SZCG before October 30, 2010, and pay 1 million yuan
before the end of each month from November 2010 to March 2011, and pay 492,000 yuan before the end of April
2011, totaling 6,492,000 yuan. 3) If the defendant Shengda Company can pay the above amount in full on time,
there is no need to pay the remaining principal of 1 million yuan and the interest of 2.8 million yuan; If any of the
above payments is not paid in full on time, the plaintiff may apply to the court for enforcement of all the claims
listed in Item 1 above.
After the mediation agreement takes effect, Shengda Company has not fully fulfilled the repayment obligations,
and SZCG has applied for compulsory execution. As of June 30, 2021, the accounts receivables were 5,602,500
yuan, and the execution of the remaining payments was highly uncertain, SZCG has set aside the bad debt
reserves of 5,602,500 yuan in full for the payments.
(4) Disputes over loan contract among Changzhou Shenbao Tea-Shop, former Shenshenbao and
Agricultural Products Guarantee
For the contract disputes among the plaintiff, Shenzhen Agricultural Products Financing Guarantee Co., Ltd.
(hereinafter referred to as "Agricultural Products Guarantee"), and the defendants, Changzhou Shenbao Tea-Shop
E-commerce Co., Ltd., (hereinafter referred to as "Changzhou Shenbao Tea-Shop") and Shenzhen Shenbao
Industrial Co.,Ltd. (now renamed as Shenzhen Cereals Holdings Co.,Ltd., hereinafter referred to as "former
Shenshenbao"), the first-instance court accepted the case in June 2016, and made a judgment in May 2017: 1) The
defendant Changzhou Shenbao Tea-Shop shall repay the loan principal of 5 million yuan and the interest of
353,900 yuan and the interest penalty (the interest penalty shall be based on the principal of 5 million yuan and
calculate at the annual standard of 21.6% from September 7, 2013 to the actual date of repayment, and for
repayment by installment, the corresponding penalty interest shall be calculated until the date of each repayment)
to the plaintiff, Agricultural Products Guarantee, within ten days from the effective date of this judgment. 2) The
defendant, Changzhou Shenbao Tea-Shop, shall pay the attorney fee of 193,400 yuan to the plaintiff, Agricultural
Products Guarantee, within ten days from the effective date of the judgment. 3) Other claims of the plaintiff,
Agricultural Products Guarantee, are rejected. 4) The court acceptance fee is 73,600 yuan, of which 71,900 yuan
will be borne by the defendant, Changzhou Shenbao Tea-Shop, and 1,700 yuan will be borne by the plaintiff; The
preservation fee of 5,000 yuan shall be borne by the defendant, Changzhou Shenbao Tea-Shop.
On July 4, 2017, Agricultural Products Guarantee filed an appeal, and On April 26, 2019, Shenzhen Intermediate
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
People's Court made the final judgment: 1) The first and second judgment of the first instance is upheld; 2) Cancel
the third judgment of the first instance; 3) Former Shenshenbao shall assume the joint and several liability for the
debts of Changzhou Shenbao Tea-Shop within the range of 3.5 million yuan. Former Shenshenbao has the right to
recover from Changzhou Shenbao Tea-Shop after the liquidation.
After the judgment second instance came into effect, Agricultural Products Guarantee communicated and
negotiated with Changzhou Shenbao Tea-Shop and former Shenshenbao on how to execute the judgment. In May
2021, Agricultural Products Guarantee had applied to the first-instance Futian District Court for enforcement of
5,193,443 yuan. As of June 30, 2021, the Company has recognized liabilities of 3.5 million yuan.
(5) Contract disputes between the Company’s subsidiaries, Shenbao Rock Tea, Jufangyong Holdings, and
Jiuxing Company, Yuxing Company, Xingjiu Tea Co., Ltd., Chen Yuxing, Chen Guopeng
Due to the separation agreement disputes, on December 3, 2018, the arbitration applicants, Mount Wuyi Shenbao
Rock Tea Co., Ltd. (hereinafter referred to as "Shenbao Rock Tea") and Hangzhou Jufangyong Holdings Co., Ltd.
(hereinafter referred to as the "Jufangyong Holdings"), took Mount Wuyi Jiuxing Tea Co., Ltd. (hereinafter
referred to as "Jiuxing Company"), Fujian Wuyishan Yuxing Tea Co., Ltd. (hereinafter referred to as "Yuxing
Company"), Xingjiu Tea Co., Ltd., Chen Yuxing, and Chen Guopeng as five respondents according to the
arbitration clause in the original Formal Agreement for the Separation of Fujian Province Mount Wuyi Shenbao
Yuxing Tea Co., Ltd., and submitted to the Shenzhen International Court of Arbitration for arbitration, claimed to:
1) Rule that the respondent, Yijiuxing Company, shall pay 5,272,900 yuan and liquidated damages of 1,581,900
yuan to the applicant, Shenbao Rock Tea, totaling 6,854,800 yuan; 2) Rule that the respondents, Yuxing Company,
Xingjiu Tea Co., Ltd., Chen Yuxing and Chen Guopeng shall assume joint and several liabilities for the above
receivables and liquidated damages of the applicant, Shenbao Rock Tea; 3) Rule that the respondent Jiuxing
Company shall pledge 19 designated trademarks to the applicant, Jufangyong Holdings, and cooperate with the
relevant trademark pledge registration procedures; 4) Rule that all the respondents shall bear the lawyer fees of
190,000 yuan, the preservation fee and other expenses incurred by the arbitration (the applicant reserves the right
to pursue the rest of the lawyer fees); 5) Rule that all the respondents shall bear all the arbitration fees of the case.
On April 18, 2019, Shenzhen Court of International Arbitration held a hearing on the arbitration case. On May 26,
2021, Shenzhen Court of International Arbitration made the following rulings: 1. Jiuxing Company shall
compensate Jufangyong Holding and Shenbao Rock Tea for the loss of receivables and liquidated damages of
4,798,369.95 yuan; 2. Yuxing Company, Xingjiu Tea Co., Ltd., Chen Yuxing and Chen Guopeng shall assume
joint and several liabilities for the above payment obligations of Jiuxing Company; 3. The arbitration fee of
104,953 yuan shall be paid by the five respondents to the two applicants; 4. The expenses of 4000 yuan of the two
arbitrators shall be paid directly by the five respondents to the two applicants. After the arbitration award comes
into effect, the applicant has applied to the court for enforcement because the respondent refuses to repay. As of
June 30, 2021, the Company has accumulatively set aside bad debt reserves of 4,469,500 yuan.
(6) Contract disputes between Hualian Grain and Oil and Liangshuntong Company
1) For the contract dispute case ([2019] Yue 0304 Min Chu No. 49562) between the plaintiff, Dalian
Liangshuntong Supply Chain Management Co., Ltd. (hereinafter referred to as "Liangshuntong Company") and
the defendant, Shenzhen Hualian Grain and Oil Trading Co., Ltd. (hereinafter referred to as "Hualian Grain and
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
Oil"), the People's Court of Futian District made a civil judgment of first instance on July 3, 2020 that: ① The
plaintiff Liangshuntong Company should pay 595,800 yuan to Hualian Grain and Oil; ② Rejected
Liangshuntong Company’s litigation request; ③ Rejected other litigation requests of Hualian Grain and Oil; ④
The plaintiff Liangshuntong Company should pay in advance the litigation fee of 208,900 yuan, which should be
assumed by the plaintiff, and the defendant Hualian Grain and Oil should pay in advance the counterclaim fee of
113,000 yuan, of which the plaintiff should assume 1,800 yuan, and the defendant should assume 111,200 yuan.
The plaintiff Liangshuntong Company refused to accept the judgment of the first instance and appealed to the
Shenzhen Intermediate People's Court. The second trial was held on July 29 after the Shenzhen Intermediate
People's Court accepted the case on appeal, but the final judgment has yet to be received.
2) For the contract dispute case (Case No.[2020] Yue 0304 Min Chu No. 2824) between the plaintiff, Hualian
Grain and Oil, and the defendant, Liangshuntong Company, the Futian District People’s Court served the "Civil
Judgment" of the first instance on December 31, 2020, which judged that: ① the defendant Liangshuntong
Company shall pay Hualian Grain and Oil an advance fee of 461,900 yuan and capital cost of 4,030,000 yuan
within ten days from the date when the judgment becomes legally effective; ② Liangshuntong Company shall
pay the capital occupation fee to Hualian Grain and Oil within ten days from the date when the judgment becomes
legally effective (Based on 461,900 yuan, calculate from December 11, 2019 to the date when the payment is
actually paid at the annual interest rate of 10.00%); ③ The litigation fee of 42,700 yuan shall be borne by
Liangshuntong Company. Liangshuntong Company submitted an appeal to the Shenzhen Intermediate People's
Court on January 22, 2021. So far, no notice of the second trial has been received.
(7) Disputes over construction contract between Hongxinglong and Zhishengda Company
In April 2020, Heilongjiang Zhishengda Construction Engineering Co., Ltd. (hereinafter referred to as
"Zhishengda Company") sued Heilongjiang Hongxinglong Agricultural Reclamation Shenxin Grain Industrial
Park Co., Ltd. (hereinafter referred to as "Hongxinglong") for construction contract disputes, request the
Heilongjiang Hongxinglong People's Court that: 1) Confirm that the "Letter on Rectification of Completed
Projects and Cancellation of Not Constructed Projects" sent by Hongxinglong on April 7, 2020 does not have the
effect of canceling the contract, the cancellation of the contract made by it is invalid, and judge that the defendant
Hongxinglong should continue to perform the contract (the project cost required to perform the contract is
5,137,800 yuan). 2) The litigation fee and other legal costs should be assumed by Hongxinglong.
On July 29, 2020, Hongxinglong filed a counterclaim with the court of first instance with the following appeals: 1)
Request the court to confirm the validity of the cancellation of the construction contract between Hongxinglong
and Zhishengda Company in accordance with the law. 2) Request the court to rule that the Zhishengda should pay
Hongxinglong liquidated damages of 1,003,200 yuan, of which liquidated damages for overdue completion of the
project of 253,200 yuan, repair costs for unqualified project quality of about 240,000 yuan (the specific amount is
to be determined by a third party), liquidated damages for project manager’s absence from the construction site
without permission of 500,000 yuan, liquidated damages for the migrant worker’s collective petitions of 10,000
yuan. 3) The counterclaim fee and appraisal fee shall be borne by Zhishengda. At present, all parties involved in
the case have filed applications for judicial appraisal to the court of first instance, and the case has not yet been
heard.
198
深圳市深粮控股股份有限公司 2021 年半年度报告全文
(8) Contract dispute case between Jufangyong Commercial and Trading and Xingfu Feixiang Company
In July 2020, Hangzhou Jufangyong Commercial and Trading Co., Ltd. (hereinafter referred to as "Jufangyong
Commercial and Trading") sued Hangzhou Xingfu Feixiang Commercial and Trading Co., Ltd. (hereinafter
referred to as "Xingfu Feixiang") due to contract dispute, requested Xiaoshan Primary People's Court, Hangzhou,
Zhejiang, 1) Order the defendant Xingfu Feixiang to pay a total of 2,454,700 yuan for the cooperation royalties
and water and electricity charges; 2) Order the defendant to pay cooperation fee of 699,700 yuan and water and
electricity charges (according to the actual amount incurred) to the western restaurant from July 1, 2019 to
September 10, 2019; 3) Order the defendant to pay liquidated damages of 515,300 yuan; 4) Order the defendant to
pay liquidated damages (with 3,154,400 yuan as the base and the monthly interest rate of 2% from April 16, 2020
to the date of paying off); 5) Order that the litigation costs should be borne by the defendant.
Since Xingfu Feixiang applied for bankruptcy and the court has accepted the appointment of administrator, the
court of first instance ruled to suspend the trial in August 2020, and Jufangyong Commercial and Trading has filed
claims with the bankruptcy administrator. The bankruptcy administrator of Xingfu Feixiang, namely Shanghai
City Development (Hangzhou) Law Firm, is in the process of checking the assets, and there is no property
distribution plan yet.
On December 23, 2020, Xiaoshan Court resumed the trial of this case, and the bankruptcy administrator issued the
confirmation of debt, confirming the debt principal of 2,422,000 yuan and the interest of 166,000 yuan, a total of
2,588,000 yuan. So far, no judgment has been made.
(9) Contract dispute case between Big Kitchen Ltd and Tianjin Rongyi Company
On April 27, 2021, Shenzhen Shenliang Big Kitchen Food Supply Chain Co., Ltd. (hereinafter referred to as "Big
Kitchen Ltd") received a summons from Shanghai Huangpu District People's Court, Tianjin Rongyi Supply Chain
Management Co., Ltd. (hereinafter referred to as "Tianjin Rongyi Company") sued and required Big Kitchen Ltd
to deliver 10,400 tons of rice (with the value of 41.6 million yuan), pay penalty of 4,784,000 yuan, issue an
invoice of 100,000 yuan, bear lawyer's fee of 300,000 yuan, and bear litigation costs of this case.
On May 27, 2021, the case was held in Shanghai Huangpu District People's Court, and the court required both
parties to provide supplementary evidence. On May 30, Big Kitchen Ltd submitted the Application for Judicial
Appraisal of Seal, applying for judicial appraisal of the seal of Big Kitchen Ltd on the relevant evidence submitted
by Tianjin Rongyi Company. At present, the court has designated institutions to for judicial appraisal of the seal,
up to now, it is still waiting for the second session.
(10) Disputes over construction subcontract between Dongguan Logistics and Xu Anwu
On March 17, 2021, the plaintiff, Xu Anwu, filed a lawsuit against the defendants, Dongguan Shenliang Logistics
Co., Ltd. (hereinafter referred to as "Dongguan Logistics"), Guangdong Dianbai Construction Engineering
Corporation, Gansu Installation Construction Group Co., Ltd., and Xu Jianqiang, to the First People's Court of
Dongguan, claiming that: 1. The four defendants immediately pay the project payment of 10,445,000 yuan to the
plaintiff; 2. The legal costs of this case shall be borne by the four defendants. The case has been held on June 4,
and Dongguan Logistics has entrusted lawyers to appear in court for defence. So far, no judgment has been made.
11) Disputes over private lending between Shenshenbao Tea Culture and Shi Chu Ming Men
In May 2021, Shenshenbao Tea Culture Commercial Management Co., Ltd. (hereinafter referred to as
199
深圳市深粮控股股份有限公司 2021 年半年度报告全文
"Shenshenbao Tea Culture") filed a lawsuit against the defendant, Shenzhen Shi Chu Ming Men Catering
Management Co., Ltd. (hereinafter referred to as "Shi Chu Ming Men"), on the basis of the disputes over the
private lending contract, requesting the People's Court of Nanshan District of Shenzhen to: 1. Order the defendant
Shi Chu Ming Men to return the loan principal of 1,183,000 yuan to the plaintiff Shenshenbao Tea Culture; 2.
Order Shi Chu Ming Men to pay the interest on borrowing to Shenshenbao Tea Culture (the interest is piecewise
calculated by: A. Taking the borrowing principal of 500,000 yuan as the base, the interest is calculated according
to the annual bank loan interest rate of the People's Bank of China for the same period is 78,179.17 yuan from
February 2, 2016 to August 19, 2019; B. Taking the borrowing principal of 333,000 yuan as the base, the interest
is calculated according to the annual bank loan interest rate of the People's Bank of China for the same period is
70,022.92 yuan from June 16, 2016 to August 19, 2019; C. Taking the borrowing principal of 200,000 yuan as the
base, the interest is calculated according to the annual bank loan interest rate of the People's Bank of China for the
same period is 67,425.00 yuan from July 19, 2016 to August 19, 2019; D. Taking the borrowing principal of
150,000 yuan as the base, the interest is calculated according to the annual bank loan interest rate of the People's
Bank of China for the same period is 64,887.50 yuan from September 9, 2016 to August 19, 2019; E. Taking the
borrowing principal of 1,183,000 yuan as the base, the interest is calculated based on the loan prime rate (LPR)
that the People's Bank of China authorizes the National Interbank Funding Center to publish from August 20,
2019 to the date of actual repayment. The total provisional interest is 171,250.68 yuan; 3. The legal costs of this
case shall be borne by the defendant, Shi Chu Ming Men. (The total principal and provisional interest of the above
borrowings is 1,354,250.68 yuan)
People's Court of Nanshan District of Shenzhen has accepted the case, so far no date has been set for session.
2. Guarantee
(1) Subsidiary of the Company -SZCG provide a guarantee to its subsidiary -Dongguan Logistics
SZCG provide a guarantee to Dongguan Logistics for the application of loans, amount of guarantee is 547.7159
million yuan. As of the report date, the loan is not yet due for repayment.
(2) Associated guarantees and restricted assets
For restricted assets, see Note VII. 56 Assets with restricted ownership or use rights, and for related guarantees,
see Note 12, 5 Related Party Transactions.
(2) If the Company has no important contingency need to disclosed, explain reasons
The Company has no important contingency that need to disclose.
3. Other
Nil
200
深圳市深粮控股股份有限公司 2021 年半年度报告全文
XIV. Events after balance sheet date
1. Description of other balance sheet events after the date
As of the approval date of this financial report, the company has no major future events that need to be disclosed.
XV. Principal notes of financial statements of parent company
1.Account receivable
(1) Account receivable classify by category
In RMB/CNY
Ending balance Opening balance
Bad debt
Book balance Book balance Bad debt provision
Category provision Book Book
Amoun Amoun Accrua value Amoun Amoun Accrual value
Ratio Ratio
t t l ratio t t ratio
Account receivable
with bad debt 28,453. 28,453. 100.00 28,453. 28,453. 100.00
0.01% 0.69%
provision accrual 08 08 % 08 08 %
on a single basis
Including:
Account receivable
with single
significant amount
and withdrawal
bad debt provision
on single basis
Account receivable
with single minor
amount but with 28,453. 28,453. 100.00 28,453. 28,453. 100.00
0.01% 0.69%
bad debts provision 08 08 % 08 08 %
accrued on a single
basis
Account receivable
364,16 364,15
with bad debt 99.99 10,537. 4,098,2 10,537. 4,087,68
0,865.9 0,328.7 99.31% 0.26%
provision accrual % 22 18.40 22 1.18
9 7
on portfolio
Including:
Combination of 125,51 0.03% 10,537. 8.39% 114,98 796,99 19.31% 10,537. 1.32% 786,459.
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深圳市深粮控股股份有限公司 2021 年半年度报告全文
sales receivables 8.94 22 1.72 6.91 22 69
364,03 364,03
Specific object 99.96 3,301,2 3,301,22
5,347.0 5,347.0 80.00%
combinations % 21.49 1.49
5 5
364,18 364,15
100.00 38,990. 4,126,6 100.00 38,990. 4,087,68
Total 9,319.0 0.01% 0,328.7 0.94%
% 30 71.48 % 30 1.18
7 7
Bad debt provision accrual on single basis:28,453.08
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Other accrual on single Slightly possibly taken
28,453.08 28,453.08 100.00%
basis back
Total 28,453.08 28,453.08 -- --
Bad debt provision accrual on single basis:
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Bad debt provision accrual on portfolio:10,537.22
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Combination of sales
125,518.94 10,537.22 8.39%
receivables
Specific object combinations 364,035,347.05
Total 364,160,865.99 10,537.22 --
Explanation on portfolio determines:
Bad debt provision accrual on portfolio:
In RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio determines:
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses, please
refer to the disclosure of other account receivables to disclose related information about bad-debt provisions:
□ Applicable √Not applicable
By account age
In RMB/CNY
202
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Account age Ending balance
Within one year (including 1-year) 364,152,013.39
2-3 years 8,852.60
Over 3 years 28,453.08
Over 5 years 28,453.08
Total 364,189,319.07
(2) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
In RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written off Other
reversal
Bad debt
provision
28,453.08 28,453.08
accrual on
single basis
Sales
10,537.22 10,537.22
receivable
Total 38,990.30 38,990.30
Including major amount bad debt provision that collected or reversal in the period: nil
In RMB/CNY
Enterprise Amount collected or reversal Collection way
(3) Top 5 account receivables at ending balance by arrears party
In RMB/CNY
Ending balance of accounts Proportion in total receivables Bad debt preparation ending
Enterprise
receivable at ending balance balance
First 364,035,347.05 99.94%
Second 66,668.34 0.02%
Third 25,574.00 0.01%
Fourth 24,424.00 0.01% 244.24
Fifth 18,456.50 0.01% 18,456.50
Total 364,170,469.89 99.99%
203
深圳市深粮控股股份有限公司 2021 年半年度报告全文
2. Other account receivable
In RMB/CNY
Item Ending balance Opening balance
Dividend receivable 390,000,000.00 390,000,000.00
Other account receivable 434,833,488.88 502,105,968.23
Total 824,833,488.88 892,105,968.23
(1) Dividend receivable
1) Category of dividend receivable
In RMB/CNY
Item (or the invested entity) Ending balance Opening balance
SZCG 390,000,000.00 390,000,000.00
Total 390,000,000.00 390,000,000.00
2) Important dividend receivable with account age over one year
In RMB/CNY
Whether impairment
Item (or the invested Reasons for not
Ending balance Account age occurs and its
entity) collection
judgment basis
No, internal unit
SZCG 390,000,000.00 1-2 years Not yet settled
payments
Total 390,000,000.00 -- -- --
(2) Other account receivable
1) Other account receivable classify by nature
In RMB/CNY
Nature Ending book balance Opening book balance
Margin and deposit 233,029.39 73,975.47
Current payments and others 462,266,131.58 529,477,457.08
Total 462,499,160.97 529,551,432.55
2) Accrual of bad debt provision
In RMB/CNY
204
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Bad debt provision the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance on Jan. 1,
258,262.82 27,187,201.50 27,445,464.32
2021
Balance of Jan. 1, 2021
—— —— —— ——
in the period
Current accrual 220,207.77 220,207.77
Balance on Jun. 30,
258,262.82 27,407,409.27 27,665,672.09
2021
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
In RMB/CNY
Account age Ending balance
Within one year (including 1-year) 431,691,818.12
2-3 years 5,749,601.83
Over 3 years 25,057,741.02
3-4 years 436,664.33
4-5 years 436,664.33
Over 5 years 24,184,412.36
Total 462,499,160.97
3) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
In RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written off Other
reversal
Bad debt
provision
27,187,201.50 220,207.77 27,407,409.27
accrual on
single basis
Bad debt
258,262.82 258,262.82
provision
205
深圳市深粮控股股份有限公司 2021 年半年度报告全文
accrual on
portfolio
Total 27,445,464.32 220,207.77 27,665,672.09
Including major amount with bad debt provision reverse or collected in the period: nil
In RMB/CNY
Enterprise Amount reversal or collected Collection way
4)Top 5 other receivables at ending balance by arrears party
In RMB/CNY
Ratio in total
Bad debt
ending balance of
Enterprise Nature Ending balance Account age preparation ending
other account
balance
receivables
First Internal funds 166,151,922.89 Within one year 35.92%
Second Internal funds 121,559,181.62 Within one year 26.28%
Three Internal funds 116,516,793.43 Within one year 25.19%
Fourth Intercourse funds 24,384,884.84 Over 5 years 5.27% 21,963,786.56
Fifth Internal funds 14,441,831.94 Within one year 3.12%
Total -- 443,054,614.72 -- 95.80% 21,963,786.56
3. Long-term equity investment
In RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for 4,034,894,425. 4,029,394,425. 3,713,214,425. 3,707,714,425.
5,500,000.00 5,500,000.00
subsidiary 09 09 09 09
Investment for
associates and 2,927,628.53 2,927,628.53 2,927,628.53 2,927,628.53
joint venture
4,037,822,053. 4,029,394,425. 3,716,142,053. 3,707,714,425.
Total 8,427,628.53 8,427,628.53
62 09 62 09
(1) Investment for subsidiary
In RMB/CNY
The invested Opening Current changes (+, -) Ending Ending
206
深圳市深粮控股股份有限公司 2021 年半年度报告全文
entity balance Accrual of balance balance of
Additional Capital
(book value) impairment Other (book value) impairment
investment reduction
provision provision
Shenbao
2,550,000.00 2,550,000.00
Property
Shenbao
Industry & 0.00 0.00 5,500,000.00
Trade
Shenliang 80,520,842.3 80,520,842.3
Food 6 6
Shenbao 168,551,781. 168,551,781.
Huacheng 80 80
Huizhou 60,000,000.0 60,000,000.0
Shenbao 0 0
Shenbao 54,676,764.1 54,676,764.1
Technology 1 1
Shenbao 50,000,000.0 50,000,000.0
Investment 0 0
3,291,415,03 3,291,415,03
SZCG
6.82 6.82
Dongguan 321,680,000. 321,680,000.
Logistics 00 00
3,707,714,42 321,680,000. 4,029,394,42
Total 5,500,000.00
5.09 00 5.09
(2) Investment for associates and joint venture
In RMB/CNY
Current changes (+, -)
Ending
Investm Cash
Openin Other Accrual balance
Investm ent dividen Ending
g Additio compre of of
ent Capital gains Other d or balance
balance nal hensive impair impair
compan reducti recogni equity profit Other (book
(book investm income ment ment
y on zed change announ value)
value) ent adjustm provisi provisi
under ced to
ent on on
equity issued
I. Joint venture
II. Associated enterprise
Shenzh 57,628.
en 53
207
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Shenba
o
(Liaoyu
an)
Industri
al
Compa
ny
Shenzh
en
Shenba
o
2,870,0
(Xinmi
00.00
n)
Foods
Co.,
Ltd
Changz
hou
Shenba
o
Chacan
g
E-busin
ess Co.,
Ltd.
Subtota 2,927,6
l 28.53
2,927,6
Total
28.53
(3) Other explanation
Nil
4. Operating revenue and operating cost
In RMB/CNY
Current period Last period
Item
Revenue Cost Revenue Cost
Main business 78,409,527.17 235,795.14 191,007.09 250,130.28
Total 78,409,527.17 235,795.14 191,007.09 250,130.28
208
深圳市深粮控股股份有限公司 2021 年半年度报告全文
Information relating to revenue:
In RMB/CNY
Category Division 1 Division 2 Total
Including:
Including:
Including:
Including:
Including:
Including:
Including:
Information relating to performance obligations:
Nil
Information related to the transaction price apportioned to the remaining performance obligations:
The amount of income corresponding to the performance obligations that have been signed at the end of this reporting period but
have not yet been fulfilled or have not done with fulfillment is 411.00 yuan, among them, 411.00 yuan of revenue is expected to be
recognized in 2021, 0.00 yuan of revenue is expected to be recognized in 2022, and 0.00 yuan of revenue is expected to be
recognized in 2023.
Other explanation:
5. Investment income
In RMB/CNY
Item Current period Last period
Long-term equity investment income
-48,505.63
measured by equity
Investment income from disposal of
2,337,075.95
long-term equity investment
Investment income during the period of
116,111.11 50,729.15
tradable financial assets hold
Dividend 451,054.95 390,473,276.41
Total 567,166.06 392,812,575.88
6. Other
Nil
209
深圳市深粮控股股份有限公司 2021 年半年度报告全文
XVI. Supplementary information
1. Current non-recurring gains/losses
√ Applicable □Not applicable
In RMB/CNY
Item Amount Note
Gains/losses from the disposal of non-current asset 4,753.12
Governmental subsidy reckoned into current gains/losses (not including the
subsidy enjoyed in quota or ration according to national standards, which are 4,811,695.56
closely relevant to enterprise’s business)
Profit and loss of assets delegation on others’ investment or management 3,061,191.63
Gains and losses from change of fair values of held-for-transaction financial
assets, derivative financial assets, held-for-transaction financial liability and
derivative financial liability except for the effective hedge business related to
288,972.32
normal business of the Company, and investment income from disposal of
tradable financial assets, derivative financial assets, tradable financial liability,
derivative financial liability and other debt investment.
Other gains/losses items that conform to the definition of non-recurring
1,529,279.86
gains/losses
Less: impact on income tax 2,005,561.30
Impact on minority interests 883,122.74
Total 6,807,208.45 --
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
2. ROE and earnings per share
Earnings per share
Profits during report period Weighted average ROE Basic earnings per Diluted earnings per
share (RMB/Share) share (RMB/Share)
Net profits belong to common
stock stockholders of the 5.17% 0.2116 0.2116
Company
Net profits belong to common
stock stockholders of the 5.02% 0.2057 0.2057
Company after deducting
210
深圳市深粮控股股份有限公司 2021 年半年度报告全文
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
In RMB/CNY
Net profit Net assets
Current period Last period Ending balance Opening balance
Chinese GAAP 243,846,874.76 210,738,686.12 4,448,099,108.10 4,595,331,999.76
Items and amount adjusted by IAS:
Adjustment for other
payable fund of stock 1,067,000.00 1,067,000.00
market regulation
IAS 243,846,874.76 210,738,686.12 4,449,166,108.10 4,596,398,999.76
(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
4. Other
Nil
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