深圳市深粮控股股份有限公司 2023 年半年度报告全文
深圳市深粮控股股份有限公司
SHENZHEN CEREALS HOLDINGS CO.,LTD.
SEMI-ANNUAL REPORT 2023
【August 2023】
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深圳市深粮控股股份有限公司 2023 年半年度报告全文
Section I. Important Notice, Contents and Interpretation
Board of Directors, the board of supervisors, 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.
Principal of the Company Hu Haixiang, Head of Accounting Lu Yuhe and Head of Accounting
Institution (Accounting Supervisors) Wen Jieyu hereby confirm that the Financial Report of
Semi-Annual Report 2023 is authentic, accurate and complete.
All Directors have attended the Board Meeting for deliberation of this Report.
Concerning the forward-looking statements with future planning involved in the annual
report, they do not constitute a substantial commitment for investors. Securities Times, China
Securities Journal, and the CNINFO 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 “Prospect for
future development of the Company” in the report of Section III Discussion and Analysis of
the Operation.
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 has no plan of cash dividend distributed, no cash bonus and capitalizing of
common reserves either carried out.
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深圳市深粮控股股份有限公司 2023 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 III Management Discussion and Analysis...................................................................................................................................11
Section IV Corporate Governance........................................................................................................................................................... 27
Section V. Environmental and Social Responsibility...............................................................................................................................28
Section VI. Important Events...................................................................................................................................................................30
Section VII. Changes in Shares and Particulars about Shareholders....................................................................................................... 35
Section VIII. Preferred Stock...................................................................................................................................................................39
Section IX. Corporate Bonds................................................................................................................................................................... 40
Section X. Financial Report..................................................................................................................................................................... 41
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深圳市深粮控股股份有限公司 2023 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 in the reporting period;
3. Original copies of semi-annual report 2023 with signature of the company’s principal.
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深圳市深粮控股股份有限公司 2023 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.
Shenshenbao/Shenbao Company Refers to Shenzhen Shenbao Industrial Co., Ltd.
SZCG Refers to Shenzhen Cereals Group Co., Ltd
Doximi Refers to Shenzhen Shenliang Doximi Business Co., Ltd.
Shenzhen Flour, 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.
Shenbao Huacheng Refers to Shenzhen Shenbao Huacheng Technology Co., Ltd.
Hualian Company Refers to Shenzhen Hualian Grain and Oil Trading 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, Big Kitchen Refers to Shenzhen Shenliang Big Kitchen Food Supply Chain Co., Ltd
Grain and Oil Purchase and Sales Branch of Shenzhen Cereals Group
Purchase and Sales Branch Refers to
Co., Ltd
Dongguan Oil & Food Refers to Dongguan Shenliang Oil & Food Trade Co., Ltd.
Shenliang Cold Transport Refers to Shenzhen Shenliang Cold Transport Co., Ltd.
Shenshenbao Investment Refers to Shenzhen Shenshenbao Investment Co., Ltd
Shenliang Food Refers to Shenzhen Shenliang Food Co., Ltd.
Zhenpin Market Refers to Zhenpin Market Operation Technology Co., Ltd.
Wuhan Jiacheng Refers to Wuhan Jiacheng Biotechnology Co., Ltd
Shenzhen Agriculture and Food Investment Holding Group Co., Ltd.,
Food Materials Group/Food formerly known as “Shenzhen Food Materials Group Co., Ltd”,
Refers to
Group/Fude Capital “Shenzhen Food Group Co., Ltd.”and “Shenzhen Fude State Capital
Operation Co., Ltd”, is the Controlling shareholder of the company.
Agricultural Products Refers to Shenzhen Agricultural Products Group Co., Ltd
SIHC Refers to Shenzhen Investment Holdings 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
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深圳市深粮控股股份有限公司 2023 年半年度报告全文
Shu Lun Pan CPAs Refers to BDO China Shu Lun Pan Certified Public Accountant LLP
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 2023 年半年度报告全文
Section II Company Profile and Main Financial Indexes
I. Company information
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
English name of the
SHENZHEN CEREALS HOLDINGS CO.,LTD
Company(if applicable)
Legal Representative Hu Xianghai
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
Contact add.
Rd., Futian District, Shenzhen Rd., 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. Information disclosure and preparation place
Website of the Stock Exchange where the annual
Securities Times; China Securities Journal
report of the Company is disclosed
Media and Website where the annual report of the
Juchao Website: www.cninfo.com.cn
Company is disclosed
Preparation place for annual report Office of the Board of Directors
IV. Registration changes of the Company
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深圳市深粮控股股份有限公司 2023 年半年度报告全文
III. Other information
1. Company contact information
Has the registered address, office address, postal code, website, email address, etc. of the company changed
during the reporting period?
□ Applicable Not applicable
The registered address, office address, postal code, website, and email address of the company remained
unchanged during the reporting period. Please refer to the 2022 annual report for details.
2. Information disclosure and location
Has the information disclosure and location changed during the reporting period?
□ Applicable Not applicable
The website and media name and website of the stock exchange where the company disclosed its semi-annual
report, and the place of placement of the company’s semi-annual report remains unchanged during the reporting
period, as detailed in the 2022 annual report.
3. Other relevant information
Is there any change in other relevant information during the reporting period?
□ Applicable Not applicable
IV. Main accounting data and financial indexes
Is the Company required to retrospectively adjust or restate prior year’s accounting data?
□ Yes No
Amount in current Amount in last Year-on-year
period period increase(+)/decrease(-)
Operation income (RMB) 2,831,996,801.82 4,338,044,528.35 -34.72%
Net profit attributable to shareholders of the listed
168,149,768.31 237,527,782.93 -29.21%
company(RMB)
Net profit attributable to shareholders of the listed
company after deducting extraordinary 159,103,953.25 227,132,288.75 -29.95%
gains/losses(RMB)
Net cash flows arising from operating activities
83,503,352.21 260,373,502.86 -67.93%
(RMB)
Basic earnings per share (RMB/Share) 0.1459 0.2061 -29.21%
Diluted earnings per share (RMB/Share) 0.1459 0.2061 -29.21%
Weighted average ROE 3.47% 5.00% -1.53%
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深圳市深粮控股股份有限公司 2023 年半年度报告全文
Ending balance of Ending balance of Year-on-year
current period last period increase(+)/decrease(-)
Total assets (RMB) 7,579,279,609.50 7,441,334,674.98 1.85%
Net assets attributable to shareholders of listed
4,643,162,339.43 4,762,973,461.81 -2.52%
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
Unit: RMB/CNY
Net profit attributable to shareholders of the Net assets attributable to shareholder of listed
listed Company Company
Current period Last period Ending amount Opening amount
Chinese GAAP 168,149,768.31 237,527,782.93 4,643,162,339.43 4,762,973,461.81
Items and amount adjusted by IAS
Adjustment for other
payable fund of stock 1,067,000.00 1,067,000.00
market regulation
IAS 168,149,768.31 237,527,782.93 4,644,229,339.43 4,764,040,461.81
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or
Chinese GAAP (Generally Accepted Accounting Principles) in the reporting period.
3. Explanation on difference of the accounting data under accounting rules in and out of China
□Applicable Not applicable
VI. Items and amounts of extraordinary gains/losses
Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the write-off that accrued for impairment of
1,587,775.37
assets)
Governmental grants reckoned into current gains/losses (except for those with normal operation business 5,788,072.14
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深圳市深粮控股股份有限公司 2023 年半年度报告全文
concerned, and conform to the national policies & regulations and are continuously enjoyed at a fixed or
quantitative basis according to certain standards)
Profit and loss of assets delegation on others’ investment or management 3,107,648.76
Except for the effective hedging operations related to normal business operation of the Company, the
gains/losses of fair value changes from holding the tradable financial assets and tradable financial liabilities,
174,961.34
and the investment earnings obtained from disposing the trading financial asset, trading financial liability
and financial assets available for sale
Other non-operating income and expenditure except for the aforementioned items 143,428.04
Less: Impact on income tax 1,679,903.52
Impact on minority shareholders’ equity (post-tax) 76,167.07
Total 9,045,815.06 --
Specific information on other items of gains/losses qualified the definition of extraordinary gains/losses
□Applicable Not applicable
The Company does not have other items of gains/losses qualified the definition of extraordinary gains/losses
Information on the definition of extraordinary gains/losses that listed in the Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Extraordinary Gains/Losses as the recurring gains/losses.
□Applicable Not applicable
The Company does not have any extraordinary gains/losses listed under the Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Extraordinary Gains/Losses defined as recurring gains/losses.
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深圳市深粮控股股份有限公司 2022 年年度报告全文
Section III Management Discussion and Analysis
I. Main businesses of the Company during 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 decline in market demand and fluctuation of grain
price, took multiple measures to ensure supply and stable supply, and continued to optimize the products,
strengthen the brand and expand the market. 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 “Ju Fang Yong” 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.
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. Dongguan smart gain logistics complex is a comprehensive
grain distribution service body integrating five major functions: grain & oil terminal, transit reserve, testing &
distribution, processing & production and market trading; Shenliang Quality Inspection was awarded as
“Guangdong Shenzhen National Grain Quality Monitoring Station”. the subsidiary Shenliang Cold Chain
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深圳市深粮控股股份有限公司 2022 年年度报告全文
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 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, through the own information management system, realizes a
seamless link between the “operation” and “planning, capital, quality inspection, inventory, risk control and
discipline”, building a strict “six-in-one” system of controlling to effectively reduce the operational risks while
fully participating in the market competition, and achieving a deep integration of “ensuring grain security” and
“promoting development”. Through deeply promotes the strategy of “talent strengthening the enterprises”,
continuously innovative talent training mechanism to creates a high-quality talent supply chain, 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
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
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深圳市深粮控股股份有限公司 2022 年年度报告全文
e-commerce, SZCH Doximi actively promotes the development of new grain retail formats such as “Internet +
Grain” and “Community Automatic Grain Sales Stations”, 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 dozens of 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, and gathers
leading technological advantages and equipment systems. The subsidiary Shenbao Huacheng owns the Jiangxi
provincial enterprise technology center, Shenzhen municipal research and development center (technology center)
and Shenzhen plant deep processing technology engineering laboratory and have obtained national high-tech
enterprise certification. And also owns over fifty patented technologies for tea powder, tea concentrated juice and
plant extraction independently researched and developed, published more than thirty of scientific papers, and won
a number of awards such as Science and Technology Progress Award of the Ministry of Agriculture, Shennong
Chinese Agricultural Science & Technology Award of the Chines Society of Agriculture, Science & Technology
Achievement Award of Chinese Academy of Agricultural Sciences, Science and Technology Award of China
National Light Industry Council, Zhejiang Science and Technology Award, Jiangxi Science and Technology
Progress Award and Shenzhen Science & Technology Progress Award, etc., presided over or participated in the
preparation of a national standards “GBT 21733-2008 Tea Beverages” and two industry standards, i.e. “Tea
Concentrates for Food Industry - Light Industry Standard QB-T 4068- 2010” and “Instant Tea for Food Industry -
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深圳市深粮控股股份有限公司 2022 年年度报告全文
Light Industry Standard QB-T 4067-2010”. Wuhan Jiacheng Company is a national-level high-tech enterprise, a
supporting unit of Hubei Food Fermentation Engineering Technology Research Center, a key backbone enterprise
in the national biological fermentation industry, a unit undertaking national agricultural transfer funds, innovation
funds, and major key projects, and has participated in drafting a number of national standards, industry
development plans and related policies, and has published dozens of papers, monographs, and has a number of
national patents for invention.
5．Quality control
The company implements grain and oil quality standards that are higher than national standards. The
subordinate Shenliang 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 passed the
certification of 950 testing capability items. Shenliang Quality Inspection lists 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 created 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. Has the internationally recognized quality control system. Its
subsidiary Shenbao Huacheng Company 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. Subsidiary Wuhan Jiacheng Company’s series of products have
passed the certification of European Organic Products (EOP), US National Organic Program and other relevant
system certification, and also obtained the product registration certificate of Russian red currant and special
registration certificate of US FDA products for import, etc.
6．Brand effect
The company was awarded the “Top 500 Service Enterprises in China”, “China’s Most Influential Grain &
Oil Group”, “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” and “Top 10 Food
Digital Technology Applications”. It has been selected as one of the “First Batch of National Emergency Food
Security Enterprises”, “Top 100 Agricultural Industrialized Head Enterprises in China”, “Top 10 Head Enterprise
in the Grain Industry” and “The National Demonstration Enterprise of Assured Gain & Oil Demonstration
Project”, etc.. It is the “Rice Bag” trusted by the public. Strengthen brand leadership, actively explore and
cultivate excellent public brands, rely on quality to win recognition, reputation and market share, and form a series
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深圳市深粮控股股份有限公司 2022 年年度报告全文
of high-quality grain and oil products centered on China Good Grain and Oil, Shenzhen Well-known Brands, and
Shenzhen Products. The company owns well-known brands and platforms, such as “Shenzhen Flour”, “SZCH
Duoxi”, “SZCH Yushuiqing”, “Big Kitchen”, “Shenbao Teabank”, “Ju Fang Yong”, “Cha Mi Xiang Qi”,
“Sanjing”, “www.zglsjy.com.com”, and “doximi.com”, and gradually build an industrial system with complete
“rice” + “tea” elements.
IV. Main business analysis
Overview
2023 is the first year to fully implement the spirit of the 20th National Congress of the CPC. In the face of
complex domestic and international situations, the company closely focused on the strategic goal of “becoming a
smart grain, oil and food supply chain quality service provider”, adhered to the general tone of seeking progress
while maintaining stability, firmly grasped the primary task of high-quality development, gathered strength to
strengthen the coordination of “production, purchase, storage and marketing” of grain, did a solid job in
infrastructure construction, improved the construction of systems and mechanisms, better balanced development
and safety, focused on making up deficiencies, strengthening weak links, consolidating foundation and giving full
play to advantages, and effectively enhances the ability to ensure the safety of the grain industrial chain and
supply chain. In the first half of 2023, the demand of the grain and oil market continued to decline, and the global
prices of bulk wheat, corn, grease and oil dropped significantly.The sales and gross profits of wheat and other raw
grain of the company decreased, together with the rotation of high-price crude oil in stock, weak flour market
demand and import quota wheat profit slowdown, the company achieved operating revenue of 2.832 billion yuan
in the first half of the year, with the year-on-year decrease of 34.72%; the total profit was 214 million yuan, with
the year-on-year decrease of 11.31%; the net profit attributable to shareholders of listed companies was 168
million yuan, with the year-on-year decrease of 29.21%.
1．Progress of key projects
At the beginning of the year, the Northeast Grain Source Base completed the drying and warehousing of more
than 30,000 tons of new grain purchased in the autumn of last year, and inspected nearly 1,000 carloads, all of
which met the quality standards of national grain reserves; upgraded and optimized rice processing capacity to
meet the processing needs of multiple varieties, and completed the production task of 11,000 tons.
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深圳市深粮控股股份有限公司 2022 年年度报告全文
The A2 and A3 plot projects of Dongguan grain logistics node completed the main structure capping, which is
expected to be completed in the second half of this year, and the No. 3 berth project is being accelerated; to adapt
to the development trend of larger ships, No.1 and No.2 berths implemented berthing with less load, and the type
of berthing ships has been upgraded from 10,000 tons to 20,000 tons. As of the end of June, 437 ships have been
loaded and unloaded at the dock, including 11 ships above 10,000 tons, with the maximum deadweight of a single
ship 16,800 tons, and the throughput of the dock has reached 1.062 million tons.
2．Sustained innovation and development
Guided by building a world-class enterprise, the company focused on tackling key core technologies and
promoted the application of innovative achievements; on the basis of the existing system data and application
system, gradually promoted the establishment of standard and unified data base, constructed data subject domain,
and realized the data acquisition, cleaning and management of the business system; Organize the application of
2023 innovation support projects and technical transformation support projects; two invention patents of “A grain
sampling management method, system and server” and “Positioning method, device, storage medium and terminal
equipment based on video information” have been authorized by national patent announcement; worked with
Henan University of Technology and related institutions to carry out the project of “Key Information Technology
and Application of Grain Reserve Security” project; promoted the establishment of quality control system and
production process study of red yeast rice.
“SZCG” won the honorary title of Shenzhen Famous Brand (2023-2025); Big Kitchen won the title of
“Shenzhen Key Agricultural Leading Enterprise” and “the 11th Batch of National Assured Grain and Oil
Demonstration Processing Enterprise”; Shenbao Huacheng was awarded “2023 Shenzhen SRDI Small and
Medium-sized Enterprise”, “2022 Innovative Small and Medium-sized Enterprise”, and its Guangdong Tea Deep
Processing Engineering Technology Research Center was certified the 2022 Guangdong Engineering Technology
Research Center by the Department of Science and Technology of Guangdong Province. Fresh extract LR607162
and instant black tea powder HCP63408 won the first and second prizes of Jiangxi Province 2022 Excellent New
Products respectively; Wuhan Jiacheng was certified as a state-level small and medium-sized science and
technology enterprise, and won the prize subsidy of Wuhan High-tech Enterprise. The workshop technical
transformation project of its functional red yeast rice project (Traditional Chinese medicine decoction piece
production line) has been successfully completed, and the GMP workshop certification application is under way.
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深圳市深粮控股股份有限公司 2022 年年度报告全文
3．Other key works
(1) The purchasing and marketing company withstood the pressure of storage capacity positions, overcame the
difficulty of rotation, and well completed the rice reserve service. After the flour production line of
Dongguan Oil & Food is officially put into operation, the flour small packaging production capacity of
SZCG has been greatly improved. Shenliang Cold Transport walks out of the Bay Area in virtue of “fresh
cloud warehouse + package delivery”, and the “overnight delivery” has covered multiple provinces. Doximi
continued to deepen cooperation, strengthened support market, and introduced a number of support products;
actively participated in large enterprises and employee welfare internal purchase platform, with significant
growth in Tmall store member sales. The “Zhenpin” marketization project is progressing steadily, the smart
Zhenpin supply chain management service platform has entered trial operation, built a large screen of data
management, and the marketization order transactions have expanded rapidly; the product library of Big
Company prepared food, Shenbao Huacheng instant tea concentrate, fresh extract, Shenbao Investment tea
gift, Shenbao Sanjing FOOD&BEVERAGE oyster sauce continues to enrich.
(2) Adhered to science and technology first, implement the strategy of “grain storage in technology”, actively
applied grain storage by technology and green grain storage, vigorously promoted the construction of
automated storage facilities such as quasi-low temperature storage and centralized temperature controlled
grain storage system, reduced losses and consumption, and realized the high-quality development from “safe
grain storage” to “green storage”.
(3) Participated in the formulation of national standard Wheat and industry standards Grain Storage: Technical
Specification for Rice Storage and Grain and Oils Inspection:Determination of Water Soaking Cracked
Kernels of Rice; proposes suggestions for the revision of provincial and municipal reserve systems, many of
which have been adopted.
(4) Started company institutional document sorting and compilation, strengthened the abolishment, modification,
formulation and interpretation of systems of grain reserve, finance, capital, investment, property rights,
engineering, internal control, quality, safety and personnel, woven an all-round “net” for the systems, further
optimized corporate governance structure and regulated operation of the company.
(5) Strictly implemented the transmission mechanism of “three management and three must” and “Party and
administration co-responsibility system, one post with two responsibilities, accountability for dereliction of
17
深圳市深粮控股股份有限公司 2022 年年度报告全文
duty”, emphasized individual responsibility, highlighted personal duties, consolidated own work safety
positions, and strengthened safety red line awareness and bottom line thinking.
Year-on-year changes in major financial data
In RMB
Amount in current Amount in last Year-on-year
Reason
period period increase(+)/decrease(-)
Mainly due to weak demand in the
Operation income 2,831,996,801.82 4,338,044,528.35 -34.72% grain and oil market and downward
trade sales of grain and oil
Mainly due to weak demand in the
grain and oil market, downward
Operation cost 2,357,438,707.57 3,775,825,625.81 -37.56% trade revenue of grain and oil, and a
corresponding decrease in sales
costs
Sales expense 81,081,244.08 79,331,081.69 2.21%
Mainly due to the decrease in
Administration compensation expenses calculated
104,657,015.04 125,631,541.74 -16.70%
expenses by the company based on operating
performance
Mainly due to decrease in loan
Financial expenses 20,808,115.34 28,009,628.45 -25.71%
interest
Mainly due to the increase in
income tax expenses confirmed
Income tax expense 46,217,947.45 2,958,666.41 1,462.12%
based on final settlement and
payment in the current period
R&D expenses 9,432,745.24 10,137,177.77 -6.95%
Net cash flows Mainly due to a decrease in the net
arising from 83,503,352.21 260,373,502.86 -67.93% inflow of advance receipts from the
operating activities company's grain and oil trading
Mainly because the company’s
Net cash flows
expenditure on purchasing wealth
arising from -255,045,437.38 -25,369,682.63 -905.32%
management products with idle
investing activities
funds
Net cash flows
Mainly due to the increase in
arising from 215,116,463.60 -212,953,478.35 201.02%
operating loans in the current period
financing activities
Net increase of cash
47,016,660.48 22,090,601.62 112.84%
and cash equivalents
Significant changes in the composition or source of profits of the company during the reporting period
□ Applicable Not applicable
There have been no significant changes in the composition or source of profits of the company during the reporting period.
Composition of operation revenue
In RMB
Amount in current period Amount in last period Year-on-y
ear
Amount Ratio in operation Amount Ratio in operation
increase(+
18
深圳市深粮控股股份有限公司 2022 年年度报告全文
revenue revenue )/decrease
(-)
Total operation
2,831,996,801.82 100% 4,338,044,528.35 100% -34.72%
revenue
By industry
Wholesale and retail 1,970,880,248.72 69.59% 3,409,189,664.66 78.59% -42.19%
Leasing and business
487,158,541.41 17.20% 470,365,451.05 10.84% 3.57%
services
Manufacturing 373,958,011.69 13.21% 458,489,412.64 10.57% -18.44%
By product
Grain & oil trading
2,217,815,907.14 78.31% 3,754,406,530.76 86.55% -40.93%
and processing
Grain & oil storage
428,675,200.44 15.14% 439,642,478.40 10.13% -2.49%
logistics and services
Food, beverage and
125,895,974.09 4.45% 113,272,546.54 2.61% 11.14%
tea processing
Leasing and others 59,609,720.15 2.10% 30,722,972.65 0.71% 94.02%
By region
Domestic market 2,814,438,937.19 99.38% 4,313,917,094.98 99.44% -34.76%
Export 17,557,864.63 0.62% 24,127,433.37 0.56% -27.23%
The industries, products, regions or sales model accounting for over 10% of the Company’s operation revenue or operation profit
Applicable □ Not applicable
In RMB
Operation Operation cost Gross Year-on-year Year-on-year Year-on-year
revenue profit increase(+)/decrease increase(+)/decrease increase(+)/decrease
ratio (-) of operation (-) of operation cost (-) of gross profit
revenue ratio
By industry
Wholesale 1,970,880,248. 1,870,818,136.2
5.08% -42.19% -41.21% -1.57%
and retail 72 7
By product
Grain & oil
2,217,815,907.
trading and 2,118,753,957.28 4.47% -40.93% -39.57% -2.15%
14
processing
By region
Domestic 2,814,438,937. 2,344,160,503.2 16.71
-34.76% -37.64% 3.85%
sales 19 7 %
In case of changes in the statistical caliber of principal business data in the reporting period, the Company will refer to the principal
business data after adjustment in recent 1 year:
□Applicable Not Applicable
19
深圳市深粮控股股份有限公司 2022 年年度报告全文
IV. Analysis of non-main business
Applicable □ Not applicable
Unit: RMB/CNY
Ratio in Whether be
Amount Description of formation
total profit sustainable
Investment
2,402,184.67 1.12% Unsustainable
income
Gains/losses of
fair value 174,961.34 0.08% Unsustainable
variation
The main reason for this is the provision for inventory
depreciation. When selling goods with provision for
Asset impairment -46,633,952.80 -21.80% inventory depreciation, the current cost will be offset based Unsustainable
on the actual carryover of the provision for inventory
depreciation.
Non-operating
338,644.53 0.16% Unsustainable
income
Non-operating
195,216.49 0.09% Unsustainable
expense
V. Analysis of assets and liabilities
1. Major changes of assets component
Unit: RMB/CNY
End of current period End of last period
Ratio
Ratio in Ratio
changes Notes of major changes
Amount total Amount in total
(+/-)
assets assets
Monetary fund 101,707,439.66 1.34% 54,103,771.00 0.73% 0.61%
Mainly because the final
Account payment received from grain
172,193,021.29 2.27% 236,829,100.95 3.18% -0.91%
receivable and oil reserve services at
the end of the previous year
Inventory 3,622,303,471.44 47.79% 3,599,041,970.52 48.37% -0.58%
Investment real
209,337,679.80 2.76% 217,137,461.76 2.92% -0.16%
estate
Long-term
69,971,070.54 0.92% 70,676,534.63 0.95% -0.03%
equity
20
深圳市深粮控股股份有限公司 2022 年年度报告全文
investment
Fix assets 2,098,755,391.85 27.69% 2,141,336,538.80 28.78% -1.09%
Construction in
232,409,940.90 3.07% 186,884,912.13 2.51% 0.56%
progress
Right-of-use
67,604,978.54 0.89% 78,304,838.28 1.05% -0.16%
assets
Mainly due to increase in
Short-term
1,722,765,009.74 22.73% 1,192,211,087.37 16.02% 6.71% operating loans during the
loans
current period.
Contract
83,528,485.53 1.10% 110,177,908.96 1.48% -0.38%
liability
Lease liability 58,167,435.71 0.77% 60,436,879.66 0.81% -0.04%
Foreign assets account for a relatively high proportion
□ Applicable Not applicable
2. Assets and liabilities measured by fair value
□Applicable Not applicable
3. Assets and liability measured by fair value
Applicable □ Not applicable
In RMB
Changes
of fair Accumulati Devaluatio Amou
Amount at
value ve changes n of Amount of nt of Other
the Amount at
Items gains/loss of fair value withdrawin purchase in sale in changes
beginning period-end
es in reckoned g in the the period the (+/-)
period
current into equity period period
period
Financial assets
1.Trading
financial
asset(excludi 46,676,652. 113,524.8 180,040,306. 226,830,484.
ng derivative 91 4 48 23
financial
assets)
5.Other
non-current
57,500.00 57,500.00
financial
assets
46,734,152. 113,524.8 180,040,306. 226,887,984.
Subtotal of
91 4 48 23
21
深圳市深粮控股股份有限公司 2022 年年度报告全文
financial
assets
46,734,152. 113,524.8 180,040,306. 226,887,984.
Above total
91 4 48 23
Financial -288,486.1
288,486.18 0.00
liabilities 8
Other changes
NA
Whether there have major changes on measurement attributes for main assets of the Company in reporting period or not
□ Yes No
4. The assets rights restricted till end of the period
Item Book value at
Reasons for restriction
period-end
Monetary fund 1,595,309.92 Guarantee deposit, credit deposit, etc.
Total 1,595,309.92
VI. Investment analysis
1. Overall situation
Applicable □ Not applicable
Investment in the same period of last
Investment in reporting period (RMB) Changes (+/-)
period (RMB)
51,638,617.14 33,983,734.95 51.95%
2.The major equity investment obtained in the reporting period
□ Applicable Not applicable
3.The major non-equity investment performed in the reporting period
□ Applicable Not applicable
4. Financial assets investment
(1) Securities investment
Applicable □ Not applicable
Unit: RMB/CNY
Variet Code Short Initial Acco Book Chan Cumu Curre Curre Profit Book Acco Capita
22
深圳市深粮控股股份有限公司 2022 年年度报告全文
y of of form invest unting value ges in lative nt nt and value unting l
securi securi of ment measu at the fair fair purch sales loss at the subjec Sourc
ties ties securit cost remen begin value value ase amou in the end of t e
ies t ning of the chang amou nt Repor the
model of the curren es in nt ting period
period t equity Perio
gains/ d
losses
Dome
Fair Trada
stic Debt
value 1,228, 1,341, ble
and 00001 Zhong 113,5 113,5 resche
0.00 measu 132.3 657.2 financ
overs 7 hua-A 24.84 24.84 duled
remen 6 0 ial
eas shares
ts assets
stock
1,228, 1,341,
113,5 113,5
Total 0.00 -- 132.3 0.00 0.00 0.00 657.2 -- --
24.84 24.84
6 0
(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 with over 10% in net profit
Unit: RMB/CNY
Company Main Register Total Operating Operating
Type Net assets Net profit
name business capital assets revenue profit
Shenzhen Grain & 1,530,000, 8,096,250, 4,235,126, 2,629,163, 150,627,23 129,272,86
Subsidiary
Cereals oil trading, 000 213.12 779.47 045.89 6.74 9.33
23
深圳市深粮控股股份有限公司 2022 年年度报告全文
Group Co., processing,
Ltd grain and
oil reserve
service
Shenzhen
Hualian
Grain & 100,000,00 1,175,224, 308,665,61 793,629,26 32,982,657 32,673,245
Grain and Subsidiary
oil trading 0 279.20 5.58 8.32 .72 .69
Oil Trading
Co., Ltd.
Particular about subsidiaries obtained or disposed in reporting period
Applicable □ Not applicable
Explanation on main holding/stock-jointly enterprise:
Shenzhen Cereals Group Co., Ltd: Business scope: general business items: grain and oil purchase and sales, grain
and oil storage; 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 is 1,530,000,000.00 yuan. As of
the end of current period, total assets reached 8,096,250,213.12 yuan, and net assets amounted to
4,235,126,779.47 yuan; in the reporting period, the operation revenue, net profit and the net profit attributable to
shareholder of parent company were 2,629,163,045.89 yuan, 129,272,869.33 yuan and 126,649,819.18 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: following items shall be
operated only with the relevant examination and approval documents if they are involved in obtaining approval:
purchase and sale of grain and oil, online sales of grain and oil; information service business (internet information
service business only). Register capital is 100,000,000.00 yuan. As of the end of current period, total assets
24
深圳市深粮控股股份有限公司 2022 年年度报告全文
reached 1,175,224,279.20 yuan, and net assets amounted to 308,665,615.58 yuan; in the reporting period, the
operation revenue, net profit and net profit attributable to shareholder of parent company were 793,629,268.32
yuan, 32,673,245.69 yuan and 32,579,407.25 yuan respectively.
IX. Structured vehicle controlled by the Company
□ Applicable Not applicable
X. Risks faced by the company and corresponding measures
1. Price fluctuation risk of grain and oil purchase and sale
The Federal Reserve continued to raise interest rates, the Russia-Ukraine war, extreme weather and other
uncertain external factors resulted in significant price fluctuation in domestic and foreign grain and oil purchase
and sale. On the other hand, some countries have controlled the export of agricultural products, which had a direct
impact on the supply of bulk agricultural and sideline products, and also exacerbated the price fluctuation of grain
and oil.
The Company will actively respond to the risk of price fluctuation that may have adverse impact on the
company’s operations by strengthening market forecasting, establishing strategic cooperation, optimizing supply
management, refining management and improving utilization rate.
2. Food safety risk
“Quality safety” is the lifeline of the sustainable enterprise development, and food safety is a red line that
cannot be crossed. Regulatory authorities issued a series of top-down regulations and systems for food safety
hazards, corporate subject responsibility, production management compliance, quality safety inspection and risk
monitoring and control, aiming to implement the “four strictest” requirements for food safety management.
Based on the diversified development of current product varieties and business models, the company issued
the Food Quality Safety Management Measures of SZCG, which covers grain and oil and other food varieties and
their key business links to match the existing business model and the quality management of diversified products.
As the superior system of the food safety management of the company, the system fills the institutional gaps,
clarifies the responsibilities of key positions, strengthens the supervision of key links, refines and standardizes the
daily food quality and safety management from five aspects, on-site inspection list, enterprise self-inspection
25
深圳市深粮控股股份有限公司 2022 年年度报告全文
reporting, training and drilling records, and product information ledgers, so as to ensure that food products comply
with quality standards, hygiene standards and relevant regulations.
3. Merger and integration risk
The company carries out investment and merger projects according to the development strategy. Whether the
merged project can form synergy effect with the original business, and whether the corporate culture and
management mode can be effectively integrated in the critical period of team integration will be the key to the
realization of the merger objective. If the management and control is not implemented in place, the merger and
acquisition risk may occur.
The company will take the following measures to prevent risks: first, continue to pay attention to the
operation of the merged enterprise and the compatibility with the company’s development strategy, and make
corrections in time; second, pay attention to the synergy effect between the merged enterprise and the existing
industry of the company, and coordinate the allocation of resources in time; third, gradually realize the integration
of system and culture; fourth, increase the performance improvement and innovation incentive and assessment on
the merged enterprise, and constantly adjust the incentive policy to adapt to the operation.
4. Increasing market competition
As a representative enterprise in regional grain, oil and food business, the company still has a certain gap in
scale and brand awareness compared with central enterprises and large multinational grain, oil and food
enterprises. In the future, the competition in the grain, oil and food industry will become increasingly fierce. If the
company fails to effectively promote its own brand and expand marketing channels, it may face greater risks in an
intensified market competition.
In view of the possible market and business risks: on the one hand, the company will make overall planning
for the procurement of the year, and carefully optimize the procurement channels to ensure adequate food supply
and orderly supply; on the other hand, the company will continue to strengthen the communication with upstream
and downstream customers in the industrial chain, vigorously expand marketing channels, focus on customer
needs, cultivate brand and services, and enhance the brand value and competitive power.
26
深圳市深粮控股股份有限公司 2022 年年度报告全文
Section IV Corporate Governance
I. Annual shareholders’ general meeting and extraordinary shareholders’ general meeting
held during the reporting period
1. Annual shareholders’ general meeting during the reporting period
Ratio of
Ordinal number of investor
Type Date Date of disclosure Resolutions
meeting participati
on
Resolutions of the Annual
General Meeting of 2022
Annual General (Notice No. 2023-11 )
AGM 72.13% 2023-05-17 2023-05-18
Meeting of 2022 disclosed on CNINFO
website(www.cninfo.com.c
n) on May 18, 2023
2. Request for extraordinary shareholders’ general meeting by preferred stockholders whose voting rights
restore
□ Applicable Not applicable
II. Changes in directors, supervisors and senior officers of the company
Applicable □ Not applicable
There were no changes in the directors, supervisors, and senior management of the company during the reporting
period, as detailed in the 2022 annual report.
III. Profit distribution plan and transfer of capital reserve into share capital
□ Applicable Not applicable
There are no cash dividend, bonus and capitalizing of common reserves carried out in the semi-annual.
IV. Implementation of the company’s stock incentive scheme, employee stock ownership plan
or other employee incentives
□Applicable Not applicable
There are no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their
implementation during the reporting period of the company.
27
深圳市深粮控股股份有限公司 2022 年年度报告全文
Section V. Environmental and Social Responsibility
I. Major environmental issues
Are the listed company and its subsidiaries a key pollutant discharge unit announced by the environmental protection authorities?
□Yes No
Administrative punishment for environmental problems during the reporting period
Company name or Reason for Punishment Impact on the production and The company’s
Violation
subsidiary name punishment result operation of listed company rectification measures
NA NA NA NA NA NA
Other environmental information disclosed by reference to key pollutant discharge entities
Not applicable
Measures taken to reduce carbon emissions during the reporting period and their effectiveness
Applicable □ Not applicable
1. In the first half of 2023, SZCH selected and engaged an energy management partner through public bidding to be responsible for
the roof photovoltaic power generation in the park properties of SZCH and its subsidiaries. The project cooperation adopts the
“energy management” mode, and the winning bidder is responsible for the design, construction and operation of photovoltaic power
generation equipment in the park of SZCH with 100% investment.The first batch of construction projects are expected to be
completed by the end of 2023. After completion, the average annual power generation capacity will be about 6.22 million KWH, and
the carbon reduction will reach 2058.0 tons/year.
2. Shenzhen Flour promotes the use of lithium battery. Compared with the original “2.5 tons fuel forklift”, the current “Linde lithium
battery 3 tons forklift” can reduce carbon dioxide emissions by 21.0 kg per day, and reduce carbon emissions of 7.7 tons/year.
Reasons for not disclosing other environmental information
Not applicable
II. Social responsibility
The company adheres to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly
implemented the spirit of the 20th National Congress of the CPC, carried out the deployment requirements of the provincial Party
committee, provincial government, municipal Party committee and municipal government on carrying out the rural revitalization and
township and village support and the “high-quality development project of hundreds of counties and towns and villages”, cooperates
with the units of aid, continued to consolidate and expand the achievements of poverty alleviation in the regions of aid, and makes
solid progress in rural revitalization. First, researched and deployed the work throughout the year. General Manager Hu Xianghai led
a team to attend the joint meeting of the units of aid in Tuocheng Town, investigated and discussed the annual rural revitalization and
work of aid, and assisted Shengli Village to complete the upgrading of the Party and mass service center. Second, do a good job in
improving people’s lives.The company visited and consoled more than 50 households for dynamic monitoring of poverty prevention
and poverty alleviation, and carried out solid monitoring of poverty return and targeted assistance work. Through the Rural
Revitalization Public Welfare Fund, the task force has raised a total of 240,000 yuan to finance the enrollment of students in
difficulty in Tuocheng Town and help disabled youth obtain medical assistance.Students in difficulty were sponsored 44 times and
sanitation workers were consoled 66 times on the “May Day”. Third, focused on the “hundred, million and ten million project” to
28
深圳市深粮控股股份有限公司 2022 年年度报告全文
help five cooperative projects in Tencent Foundation’s “Agricultural Revival Plan” to land in Tuocheng Town and boost the
development of the characteristic agricultural industry of Tuocheng Town. Fourth, innovated the model of aid to promote industrial
revitalization. The company gave full play to the resource advantages of SZCH, and carries out industrial and consumption support in
the mode of “taking out and inviting in”. Zhenpin helps six business entities in Longchuan County to apply for “Zhenpin”. Shenzhen
Flour helps organize cooperatives, farmers and households lifted out of poverty to set up breeding alliances to promote the
development of free range chicken industry in Tuocheng Town. Shenbao Investment company cooperated with the units of aid to
create consumer products of aid and boost the sales of products of aid to 200,000 yuan.
29
深圳市深粮控股股份有限公司 2022 年年度报告全文
Section VI. Important Events
I. Undertakings that the actual controller, shareholders, related party, buyers and the Company have
fulfilled during the reporting period and have not yet fulfilled by the end of reporting period
□ Applicable Not applicable
No undertakings that the actual controller, shareholders, related party, buyers and the Company have fulfilled during the reporting
period and have not yet fulfilled by the end of the period
II. Occupation of the non-operational funds of the listed company by controlling shareholders
and its related party
□ Applicable Not applicable
No non-operational funds of the listed company have been occupied by the controlling shareholders and its related party in period.
III. External guarantee out of the regulations
□ Applicable Not applicable
No external guarantee out of the regulations occurred in the period.
IV. Appointment and non-reappointment (dismissal) of CPA
Has the semi-annual financial statements been audited?
□ Applicable Not applicable
The semi-annual report of the company hasn’t been audited.
V. Statement on the latest “modified audit report” by BOD
□ Applicable Not applicable
VI. Explanation from Board of Directors for “Qualified Opinion” that issued by CPA for last
period
□Applicable Not applicable
VII. Bankruptcy reorganization
□ Applicable Not applicable
No bankruptcy reorganization for the Company in reporting period
30
深圳市深粮控股股份有限公司 2022 年年度报告全文
VIII. Litigation and arbitration
Major litigation and arbitration
□Applicable Not applicable
There were no major litigation and arbitration in the reporting period.
Other litigation and arbitration
□Applicable Not applicable
Amount
involved Resulting in an Execution
Lawsuits Trial result and Disclosure Disclosure
(in 10 accrual liability Progress of
(arbitration) influence date index
thousand (Y/N) judgment
yuan)
As of June 30, Yes, the single loan The Company
contract dispute actively makes
2023, other
from subordinate use of the
lawsuits that enterprise of the advantageous
did not meet Company is resources of
expected to form internal legal
the disclosure
an accrual liability affairs and
standards for of 3.50 million external laws firm
significant yuan to follow up and
approximately. deal with the
lawsuits
Other lawsuit-related
mainly lawsuit-related cases. At present, After
included the cases are relatively the Company is comprehensive
following: small in individual responding to and analysis, the
amount, and will dealing with the result of the
disputes over It is Not
not have a cases effectively cases involved Not
13,828.65 actively
purchase and significant impact in accordance in the lawsuits applicable applicable
advancing
sales contract, on the Company with relevant laws will not have a
when analyzed in and regulations significant
dispute over
conjunction with impact on the
loan contract, the progress of Company
disputes over these cases.
construction
contracts,
Disputes over
company
separation
contracts,
housing lease
contracts, etc.
IX. Penalty and rectification
□ Applicable Not applicable
31
深圳市深粮控股股份有限公司 2022 年年度报告全文
X. Integrity of the Company, its controlling shareholders and actual controllers
□ Applicable Not applicable
XI. Major related party transaction
1. Related party transaction involved with daily operation
□Applicable Not applicable
There were no related party transactions involved with daily operation.
2. Related party transactions of assets or acquisition and sold
□ Applicable Not applicable
No related party transactions of assets or equity acquisition and sold occurred during the reporting period
3. Related party transactions of mutual investment outside
□ Applicable Not applicable
No related party transactions of mutual investment outside occurred during the reporting period.
4. Contact of related party credit and debt
□ Applicable Not applicable
There were no contact of related party credit and debt in the reporting period.
5. Contact with the related finance companies
□ Applicable Not applicable
There are no deposits, loans, credits or other financial business between the finance companies with associated relationship and
related parties
6. Transactions between the finance company controlled by the Company and related parties
□ Applicable Not applicable
There are no deposits, loans, credits or other financial business between the finance companies controlled by the Company and
related parties
7. Other material related party transactions
□Applicable Not applicable
There were no other material related party transactions in the reporting period.
32
深圳市深粮控股股份有限公司 2022 年年度报告全文
XII. Significant contract and implementations
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable Not applicable
No trusteeship occurred during the reporting period
(2) Contracting
□ Applicable Not applicable
No contract occurred during the reporting period
(3) Leasing
□ Applicable Not applicable
No leasing occurred during the reporting period
2. Material guarantees
□Applicable Not applicable
The company had no material guarantees in the reporting period.
3. Trusted cash asset management
Applicable □ Not applicable
In ten thousand yuan
Amount with
impairment
Outstanding accrual for the
Type Capital sources Amount occurred Overdue amount
balance overdue financial
products which has
not been recovered
Financing products
Own funds 45,500 22,500 0 0
of banks
Total 45,500 22,500 0 0
Details of the single major amount, or high-risk trust investment with low security, or poor liquidity
□ Applicable Not applicable
It is expected that the principal of entrusted financial management fails to recover or there are other situations leading to impairment
in entrusted financial management
□ Applicable Not applicable
4. Other significant contract
□ Applicable Not applicable
The company had no other significant contract in the reporting period.
33
深圳市深粮控股股份有限公司 2022 年年度报告全文
XIII. Explanation on other material matters
Applicable □ Not applicable
The company has no explanation on other material matters.
XIV. Material matters of subsidiary of the Company
□ Applicable Not applicable
1. On April 24, 2023, the company held the 27th meeting of its 10th session of BOD, deliberated and approved the Proposal on the
Investment of Dongguan Logistics in the Construction of Berth 3. It was agreed that Dongguan Logistics, a wholly-owned subsidiary
of the company, would invest in the construction of the expansion project of the deep grain storage supporting terminal in the
Xinshanan Operation Area of Machong Port Area, Dongguan Port (Berth 3). One 20,000 ton grain berth will be built, with total
investment of 175 million yuan. For details, please refer to the “Announcement on the Resolutions of the 27th Meeting of the 10th
Board of Directors of the Company” and the “Announcement on the Investment and Construction of Berth 3 by Dongguan Logistics”
published on the CNINFO website (www.cninfo. com. cn) on April 26, 2023.
34
深圳市深粮控股股份有限公司 2022 年年度报告全文
Section VII. Changes in Shares and Particulars about Shareholders
I. Changes in Shares
1. Changes in shares
Unit: Share
Increase/Decrease in the Change (+/
Before the Change After the Change
-)
Capita
New
Bo lizatio
share Sub
Proportio nus n of Oth Proportio
Amount s tota A mount
n sha public ers n
issue l
res reserv
d
e
I. Restricted shares 684,569,567 59.40% 0 0 0 0 0 684,569,567 59.40%
1. State-owned shares 0 0.00% 0 0 0 0 0 0 0.00%
2. State-owned corporate
684,569,567 59.40% 0 0 0 0 0 684,569,567 59.40%
shares
3. Other domestic shares 0 0.00% 0 0 0 0 0 0 0.00%
Including: Domestic legal
0 0.00% 0 0 0 0 0 0 0.00%
person’s shares
Domestic nature
0 0.00% 0 0 0 0 0 0 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%
corporate shares
overseas nature
0 0.00% 0 0 0 0 0 0 0.00%
person’s share
II. Unrestricted shares 467,965,687 40.60% 0 0 0 0 0 467,965,687 40.60%
1. RMB common shares 416,216,407 36.11% 0 0 0 0 0 416,216,407 36.11%
2. Domestically listed
51,749,280 4.49% 0 0 0 0 0 51,749,280 4.49%
foreign shares
3. Foreign listed foreign
0 0.00% 0 0 0 0 0 0 0.00%
shares
4. Other 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%
Reasons for changes in share
□ Applicable Not applicable
Approval of changes in share
□ Applicable Not applicable
Ownership transfer of changes in share
□ Applicable Not applicable
Progress of the implementation of repurchase share
35
深圳市深粮控股股份有限公司 2022 年年度报告全文
Applicable □ Not applicable
Progress of the implementation of reducing buyback shares by means of 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 last 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 in restricted shares
□ Applicable Not applicable
II. Securities issuance and listing
□ Applicable Not applicable
III. Particulars about shareholders and actual controller of the Company
1. Number of shareholders and particulars about shares holding
Unit: Share
In Share
Total common
stock Total preference shareholders with voting rights
shareholders in 49,201 recovered at end of last month before annual report 0
reporting disclosed (if applicable)(refer to Note 8)
period-end
Particulars about shares held above 5% by shareholders or top ten shareholders
Total of Numbe Information of shares
Nature common r of pledged, tagged or
Proportion Changes in Amount of
Full name of of shares held at restrict frozen
of shares reporting unrestricted
Shareholders sharehol the end of ed
held period shares held State of
der reporting shares Amount
share
period held
Shenzhen Food State-o
Materials Group wned 669,18
63.79% 735,237,253 0 66,052,518
Co., Ltd legal 4,735
person
Shenzhen State-o
Agricultural wned 15,384,
8.23% 94,832,294 0 79,447,462
Products Group legal 832
Co., Ltd person
Dongguan Fruit, Domesti
Vegetable, and c
Non- staple non-stat 0.75% 8,698,216 0
Food Trading e-owned
Market Co., Ltd legal
36
深圳市深粮控股股份有限公司 2022 年年度报告全文
person
Domesti
Lin Junbo
c nature 0.47% 5,390,000 687,200
person
Domesti
Deng Lijun
c nature 0.40% 4,643,670 875,200
person
Domesti
Sun Huiming
c nature 0.29% 3,366,662 -33,300
person
Domesti
Zhong Zhenxin
c nature 0.29% 3,295,500 0
person
Domesti
Chen Jiuyang
c nature 0.26% 2,979,770 218,700
person
Domesti
Wang Guanghua c nature 0.24% 2,732,099 2,732,099
person
Hong Kong Foreign
Securities legal
0.20% 2,361,867 -2,319,229
Clearing person
Company
Strategy investor or general
legal person becoming the
top 10 shareholders by N/A
placing new shares (if
applicable) (refer to Note 3)
Shenzhen SASAC directly holds 100% equity of Shenzhen Food Materials Group Co., Ltd., and
Explanation on associated
holds 34% equity of Shenzhen Agricultural Products Group Co., Ltd. indirectly through Shenzhen
relationship concerted
Food Materials Group Co., Ltd.; the Company was not aware of any related relationship between
action among the aforesaid
other shareholders above, and whether they are parties acting in concert as defined by the
shareholders
Acquisition Management Method of Listed Company.
Description of the above
shareholders in relation to
delegate/entrusted voting N/A
rights and abstention from
voting rights.
Special note on the
repurchase account among
the top 10 shareholders (if N/A
applicable) (refer to note
11)
Particular about top ten shareholders with unrestricted shares held
Amount of unrestricted shares Shares held
Shareholders’ name
held at Period-end Type Amount
Shenzhen Agricultural Products Group Co., Ltd RMB common
79,447,462 79,447,462
shares
Shenzhen Food Materials Group Co., Ltd RMB common
66,052,518 66,052,518
shares
Dongguan Fruit, Vegetable, and Non- staple Food RMB common
8,698,216 8,698,216
Trading Market Co., Ltd shares
Lin Junbo RMB common
5,390,000 5,390,000
shares
Deng Lijun RMB common
4,643,670 4,643,670
shares
Sun Huiming Domestically
3,366,662 3,366,662
listed foreign
37
深圳市深粮控股股份有限公司 2022 年年度报告全文
shares
Zhong Zhenxin RMB common
3,295,500 3,295,500
shares
Domestically
Chen Jiuyang
2,979,770 listed foreign 2,979,770
shares
RMB common
Wang Guanghua 2,732,099 2,732,099
shares
Hong Kong Securities Clearing Company RMB common
2,361,867 2,361,867
shares
Shenzhen SASAC directly holds 100% equity of Shenzhen Food
Materials Group Co., Ltd., and holds 34% of Shenzhen Agricultural
Explanation on associated relationship or consistent Products Group Co., Ltd. indirectly through Shenzhen Food Materials
actors within the top 10 restricted shareholders and
Group Co., Ltd.; the Company was not aware of any related
between top 10 unrestricted shareholders and top 10
shareholders relationship between other shareholders above, and whether they are
parties acting in concert as defined by the Acquisition Management
Method of Listed Company.
At the end of reporting period, Lin Junbo, a shareholder of the
company, held 3,390,000 shares of the Company under customer credit
trading secured securities account through China Merchants Securities
Co., Ltd., and held 2,000,000 shares of the company under common
Explanation on top 10 shareholders involving margin
account, totally holding 5,390,000 shares of the Company. During the
business (if applicable) (refer to Note 4)
reporting period, shares held by Lin Junbo under the credit trading
secured securities account rose by 104,300 shares, shares held by him
under common account rose by 582, 900 shares, and shares held by Lin
Junbo rose by 687,200 shares.
Did top ten common shareholders or top ten unrestricted shareholders have agreed repurchase dealing in reporting period ?
□ Yes No
The top ten common shareholders or top ten unrestricted shareholders didn’t have agreed repurchase dealing in reporting period.
IV.Changes in shareholding of directors, supervisors, and senior management
□Applicable Not applicable
There are no changes in shareholding of directors, supervisors, and senior management in the reporting period. Refer to 2022 annual
report for details.
V. Changes of controlling shareholders or actual controller in reporting period
Changes of controlling shareholders in reporting period
□ Applicable Not applicable
The Company had no changes of controlling shareholders in reporting period. Following the reporting period, the controlling
shareholder of the company will be renamed from “Shenzhen Food Materials Group Co., Ltd” to “Shenzhen Agriculture and Food
Investment Holding Group Co., Ltd.”
Changes of actual controller in the reporting period
□ Applicable Not applicable
The Company had no changes of actual controller in the reporting period.
38
深圳市深粮控股股份有限公司 2022 年年度报告全文
Section VIII. Preferred Stock
□ Applicable Not applicable
The Company had no preferred stock in the Period.
39
深圳市深粮控股股份有限公司 2022 年年度报告全文
Section IX. Corporate Bonds
□ Applicable Not applicable
40
深圳市深粮控股股份有限公司 2022 年年度报告全文
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.
June 30, 2023
Unit: RMB/CNY
Item June 30, 2023 January 1, 2023
Current assets:
Monetary funds 101,707,439.66 54,103,771.00
Settlement provisions
Capital lent
Tradable financial assets 226,830,484.23 46,676,652.91
Derivative financial assets
Note receivable 177,052.00 270,109.00
Account receivable 172,193,021.29 236,829,100.95
Receivable financing
Accounts paid in advance 32,599,077.76 65,487,390.88
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 42,351,756.38 32,910,189.14
Including: Interest receivable
Dividend receivable
Buying back the sale of financial
41
深圳市深粮控股股份有限公司 2022 年年度报告全文
assets
Inventories 3,622,303,471.44 3,599,041,970.52
Contract assets
Assets held for sale
Non-current asset due within one
year
Other current assets 45,716,262.80 32,597,421.26
Total current assets 4,243,878,565.56 4,067,916,605.66
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 69,971,070.54 70,676,534.63
Investment in other equity
instrument
Other non-current financial
57,500.00 57,500.00
assets
Investment real estate 209,337,679.80 217,137,461.76
Fixed assets 2,098,755,391.85 2,141,336,538.86
Construction in progress 232,409,940.90 186,884,912.13
Productive biological asset 363,463.20 368,309.40
Oil and gas asset
Right-of-use assets 67,604,978.54 78,304,838.28
Intangible assets 573,791,747.60 594,428,051.55
Expense on research and
463,886.83
development
Goodwill 1,953,790.56 1,953,790.56
Long-term expenses to be
32,319,347.89 33,076,249.90
apportioned
Deferred income tax asset 40,206,899.02 40,240,466.35
Other non-current asset 8,165,347.21 8,953,415.90
Total non-current asset 3,335,401,043.94 3,373,418,069.32
Total assets 7,579,279,609.50 7,441,334,674.98
Current liabilities:
42
深圳市深粮控股股份有限公司 2022 年年度报告全文
Short-term loans 1,722,765,009.74 1,192,211,087.37
Loan from central bank
Capital borrowed
Tradable financial liability 288,486.18
Derivative financial liability
Note payable
Account payable 310,410,532.14 390,149,018.13
Accounts received in advance 1,047,894.08 1,355,802.01
Contract liability 83,528,485.53 110,177,908.96
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 225,994,654.82 339,234,506.43
Taxes payable 41,959,573.95 70,739,384.81
Other account payable 279,848,547.31 299,793,948.48
Including: Interest payable
Dividend payable 2,933,690.04 2,933,690.04
handle fee and commission
payable
Reinsurance payable
Liability held for sale
Non-current liabilities due
12,423,019.72 21,770,690.45
within one year
Other current liabilities 798,459.45 1,112,119.07
Total current liabilities 2,678,776,176.74 2,426,832,951.89
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital
securities
43
深圳市深粮控股股份有限公司 2022 年年度报告全文
Lease liability 58,167,435.71 60,436,879.66
Long-term account payable 17,843,224.46 17,620,572.48
Long-term wages payable
Accrual liability 3,500,000.00 3,500,000.00
Deferred income 95,171,763.08 87,077,137.27
Deferred income tax liabilities 13,175,090.14 13,381,949.47
Other non-current liabilities
Total non-current liabilities 187,857,513.39 182,016,538.88
Total liabilities 2,866,633,690.13 2,608,849,490.77
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 1,259,639,656.65 1,259,639,656.65
Less: Inventory shares
Other comprehensive income
Reasonable reserve 393,224.51 220,301.70
Surplus public reserve 439,624,164.67 439,624,164.67
Provision of general risk
Retained profit 1,790,970,039.60 1,910,954,084.79
Total owner’ s equity attributable to
4,643,162,339.43 4,762,973,461.81
parent company
Minority interests 69,483,579.94 69,511,722.40
Total owner’ s equity 4,712,645,919.37 4,832,485,184.21
Total liabilities and owner’ s equity 7,579,279,609.50 7,441,334,674.98
Legal Representative: Hu Xianghai
Person in charge of accounting works: Lu Yuhe
Person in charge of accounting institute: Wen Jieyu
2. Balance sheet of parent company
Unit: RMB/CNY
44
深圳市深粮控股股份有限公司 2022 年年度报告全文
Item June 30, 2023 January 1, 2023
Current assets:
Monetary funds 2,381,016.02 961,310.17
Tradable financial assets 41,292,963.68 46,676,652.91
Derivative financial assets
Note receivable
Account receivable 46,236,864.83 87,194,178.84
Receivable financing
Accounts paid in advance 687,515.40
Other account receivable 1,637,542,361.56 1,560,888,393.94
Including: Interest receivable
Dividend
receivable
Inventories
Contract assets
Assets held for sale
Non-current assets maturing
within one year
Other current assets 106,372.57 274,196.00
Total current assets 1,727,559,578.66 1,696,682,247.26
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 4,033,819,425.09 4,033,819,425.09
Investment in other equity
instrument
Other non-current financial
assets
Investment real estate 15,807,528.34 16,043,323.48
Fixed assets 32,946,922.69 33,752,718.66
Construction in progress
Productive biological assets 363,463.20 368,309.40
Oil and natural gas assets
Right-of-use assets
45
深圳市深粮控股股份有限公司 2022 年年度报告全文
Intangible assets 17,546,142.60 17,032,428.19
Research and development costs
Goodwill
Long-term deferred expenses 2,701,449.17 3,097,280.23
Deferred income tax assets
Other non-current assets 7,512,443.78 8,700,512.47
Total non-current assets 4,110,697,374.87 4,112,813,997.52
Total assets 5,838,256,953.53 5,809,496,244.78
Current liabilities:
Short-term borrowings 30,019,166.67 100,073,055.56
Tradable financial liability
Derivative financial liability
Notes payable
Account payable
Accounts received in advance
Contract liability
Wage payable 27,210,014.67 27,465,081.26
Taxes payable 4,389,575.75 2,993,808.49
Other accounts payable 1,370,026,183.10 1,024,148,905.29
Including: Interest payable
Dividend payable 2,933,690.04 2,933,690.04
Liability held for sale
Non-current liabilities due
within one year
Other current liabilities
Total current liabilities 1,431,644,940.19 1,154,680,850.60
Non-current liabilities:
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long term employee
46
深圳市深粮控股股份有限公司 2022 年年度报告全文
compensation payable
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 1,435,144,940.19 1,158,180,850.60
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 167,219,736.53 167,219,736.53
Retained profit 65,250,454.54 313,453,835.38
Total owner’s equity 4,403,112,013.34 4,651,315,394.18
Total liabilities and owner’s equity 5,838,256,953.53 5,809,496,244.78
3. Consolidated profit statement
Unit: RMB/CNY
Item 2023 semi-annual 2022 semi-annual
I. Total operating income 2,831,996,801.82 4,338,044,528.35
Including: Operating income 2,831,996,801.82 4,338,044,528.35
Interest income
Insurance gained
handle fee and
commission income
II. Total operating cost 2,582,248,916.32 4,027,985,541.37
Including: Operating cost 2,357,438,707.57 3,775,825,625.81
Interest expense
handle fee and
47
深圳市深粮控股股份有限公司 2022 年年度报告全文
commission expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal
of insurance contract reserve
Bonus expense of
guarantee slip
Reinsurance expense
Taxes and surcharge 8,831,089.05 9,050,485.91
Sales expense 81,081,244.08 79,331,081.69
Administrative expense 104,657,015.04 125,631,541.74
R&D expense 9,432,745.24 10,137,177.77
Financial expense 20,808,115.34 28,009,628.45
Including: Interest
20,495,411.83 27,256,521.87
expenses
Interest
315,939.31 1,233,894.54
income
Add: Other income 5,788,072.14 8,030,243.98
Investment income (Loss is
2,402,184.67 3,038,365.75
listed with “-”)
Including: Investment
income on affiliated company and joint -705,464.09 -535,079.99
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
174,961.34 221,889.46
value (Loss is listed with “-”)
Loss of credit impairment
670,247.23 245,856.01
(Loss is listed with “-”)
Losses of devaluation of
-46,633,952.80 -81,499,450.86
asset (Loss is listed with “-”)
Income from assets disposal 1,587,775.37
48
深圳市深粮控股股份有限公司 2022 年年度报告全文
(Loss is listed with “-”)
III. Operating profit (Loss is listed with
213,737,173.45 240,095,891.32
“-”)
Add: Non-operating income 338,644.53 1,133,017.31
Less: Non-operating expense 195,216.49 67,133.97
IV. Total profit (Loss is listed with “-”) 213,880,601.49 241,161,774.66
Less: Income tax expense 46,217,947.45 2,958,666.41
V. Net profit (Net loss is listed with
167,662,654.04 238,203,108.25
“-”)
(i) Classify by business continuity
1.continuous operating net profit
167,662,654.04 238,203,108.25
(net loss listed with ‘-”)
2.termination of net profit (net
loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to
168,149,768.31 237,527,782.93
owner’s of parent company
2.Minority shareholders’
-487,114.27 675,325.32
gains/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
49
深圳市深粮控股股份有限公司 2022 年年度报告全文
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 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 167,662,654.04 238,203,108.25
Total comprehensive income
attributable to owners of parent 168,149,768.31 237,527,782.93
Company
Total comprehensive income
-487,114.27 675,325.32
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.1459 0.2061
(ii) Diluted earnings per share 0.1459 0.2061
As for the enterprise combined under the same control, the net profit achieved by the merged party before combination is 0.00 yuan
and the net profit achieved by the merged party in last period is 0.00 yuan.
Legal Representative: Hu Xianghai
Person in charge of accounting works: Lu Yuhe
Person in charge of accounting institute: Wen Jieyu
50
深圳市深粮控股股份有限公司 2022 年年度报告全文
4. Profit statement of parent company
Unit: RMB/CNY
Item 2023 semi-annual 2022 semi-annual
I. Operating income 80,465,663.56 94,732,571.88
Less: Operating cost 235,795.14 235,795.14
Taxes and surcharge 226,880.22 239,797.63
Sales expenses
Administration expenses 31,183,573.58 35,210,060.97
R&D expenses
Financial expenses -14,476,713.20 -249,289.38
Including: Interest
1,153,273.64 1,215,509.60
expenses
Interest
15,881,657.87 1,385,168.73
income
Add: Other income 382,620.07 216,639.79
Investment income (Loss is
975,629.57 2,279,175.50
listed with “-”)
Including: Investment
income on affiliated Company and
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
-113,524.84 221,889.46
value (Loss is listed with “-”)
Loss of credit impairment
(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
64,540,852.62 62,013,912.27
with “-”)
Add: Non-operating income 5,000.02 5,000.00
51
深圳市深粮控股股份有限公司 2022 年年度报告全文
Less: Non-operating expense
III. Total Profit (Loss is listed with
64,545,852.64 62,018,912.27
“-”)
Less: Income tax 24,615,419.98
IV. Net profit (Net loss is listed with
39,930,432.66 62,018,912.27
“-”)
(i) continuous operating net
39,930,432.66 62,018,912.27
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
52
深圳市深粮控股股份有限公司 2022 年年度报告全文
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
VI. Total comprehensive income 39,930,432.66 62,018,912.27
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated cash flow statement
Unit: RMB/CNY
Item 2023 semi-annual 2022 semi-annual
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 2,908,830,118.57 4,505,675,220.29
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,
handle fee and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in
sale and purchase of securities
53
深圳市深粮控股股份有限公司 2022 年年度报告全文
Write-back of tax received 924,811.35 27,412,268.12
Other cash received concerning
335,627,204.39 969,031,224.09
operating activities
Subtotal of cash inflow arising from
3,245,382,134.31 5,502,118,712.50
operating activities
Cash paid for purchasing
commodities and receiving labor 2,346,304,152.82 3,881,170,164.56
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, handle fee
and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and
238,939,457.87 213,374,966.28
workers
Taxes paid 133,546,738.58 117,336,305.52
Other cash paid concerning
443,088,432.83 1,029,863,773.28
operating activities
Subtotal of cash outflow arising from
3,161,878,782.10 5,241,745,209.64
operating activities
Net cash flows arising from operating
83,503,352.21 260,373,502.86
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
719,000,000.00 485,000,000.00
investment
Cash received from investment
2,840,292.60 2,507,720.69
income
Net cash received from disposal
of fixed, intangible and other 2,048,910.70 570.00
long-term assets
Net cash received from disposal
54
深圳市深粮控股股份有限公司 2022 年年度报告全文
of subsidiaries and other units
Other cash received concerning
154.49
investing activities
Subtotal of cash inflow from
723,889,203.30 487,508,445.18
investing activities
Cash paid for purchasing fixed,
76,150,532.92 97,877,199.01
intangible and other long-term assets
Cash paid for investment 899,000,000.00 415,000,000.00
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
3,784,107.76 928.80
investing activities
Subtotal of cash outflow from
978,934,640.68 512,878,127.81
investing activities
Net cash flows arising from investing
-255,045,437.38 -25,369,682.63
activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
490,000.00 4,900,000.00
investment
Including: Cash received from
absorbing minority shareholders’ 490,000.00 4,900,000.00
investment by subsidiaries
Cash received from loans 1,418,006,020.58 1,923,171,121.48
Other cash received concerning
financing activities
Subtotal of cash inflow from
1,418,496,020.58 1,928,071,121.48
financing activities
Cash paid for settling debts 887,417,617.78 1,817,214,190.96
Cash paid for dividend and
306,311,864.63 314,281,984.10
profit distributing or interest paying
Including: Dividend and profit
of minority shareholder paid by
subsidiaries
Other cash paid concerning
9,650,074.57 9,528,424.77
financing activities
Subtotal of cash outflow from 1,203,379,556.98 2,141,024,599.83
55
深圳市深粮控股股份有限公司 2022 年年度报告全文
financing activities
Net cash flows arising from financing
215,116,463.60 -212,953,478.35
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 3,442,282.05 40,259.74
exchange rate
V. Net increase of cash and cash
47,016,660.48 22,090,601.62
equivalents
Add: Balance of cash and cash
53,095,469.26 49,370,080.20
equivalents at the period -begin
VI. Balance of cash and cash
100,112,129.74 71,460,681.82
equivalents at the period -end
6. Cash flow statement of parent company
Unit: RMB/CNY
Item 2023 semi-annual 2022 semi-annual
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 408,104,768.00 456,611,209.00
services
Write-back of tax received 193,577.27 127,947.08
Other cash received concerning
1,220,117,754.90 1,390,207,872.37
operating activities
Subtotal of cash inflow arising from
1,628,416,100.17 1,846,947,028.45
operating activities
Cash paid for purchasing
commodities and receiving labor
service
Cash paid to/for staff and
30,688,663.89 31,404,815.06
workers
Taxes paid 27,682,272.82 2,411,446.34
Other cash paid concerning
1,162,985,810.35 1,384,817,990.79
operating activities
Subtotal of cash outflow arising from
1,221,356,747.06 1,418,634,252.19
operating activities
Net cash flows arising from operating
407,059,353.11 428,312,776.26
activities
56
深圳市深粮控股股份有限公司 2022 年年度报告全文
II. Cash flows arising from investing
activities:
Cash received from recovering
279,000,000.00 255,000,000.00
investment
Cash received from investment
1,245,793.96 1,359,602.96
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
382,533.35
investing activities
Subtotal of cash inflow from
280,628,327.31 256,359,602.96
investing activities
Cash paid for purchasing fixed,
5,580,933.36 4,135,551.25
intangible and other long-term assets
Cash paid for investment 274,000,000.00 145,000,000.00
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
47,100,000.00 216,912,975.11
investing activities
Subtotal of cash outflow from
326,680,933.36 366,048,526.36
investing activities
Net cash flows arising from investing
-46,052,606.05 -109,688,923.40
activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
investment
Cash received from loans 342,127,475.10
Other cash received concerning
financing activities
Subtotal of cash inflow from
342,127,475.10
financing activities
Cash paid for settling debts 70,000,000.00 370,299,684.12
Cash paid for dividend and
289,587,041.21 289,268,397.83
profit distributing or interest paying
57
深圳市深粮控股股份有限公司 2022 年年度报告全文
Other cash paid concerning
financing activities
Subtotal of cash outflow from
359,587,041.21 659,568,081.95
financing activities
Net cash flows arising from financing
-359,587,041.21 -317,440,606.85
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -1,697.17
exchange rate
V. Net increase of cash and cash
1,419,705.85 1,181,548.84
equivalents
Add: Beginning balance of cash
961,310.17 2,264,388.89
and cash equivalents
VI. Ending balance of cash and cash
2,381,016.02 3,445,937.73
equivalents
7. Consolidated statement of changes in owners’ equity
Current period
Unit: RMB/CNY
2023 semi-annual
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, 1,25 439, 1,91 4,76 69,5 4,83
I. Balance at 220,
535 0.0 0.0 0.0 9,63 624, 0,95 2,97 11,7 2,48
the end of the 0.00 0.00 301. 0.00 0.00
last year ,25 0 0 0 9,65 164. 4,08 3,46 22.4 5,18
70
4.0 6.65 67 4.79 1.81 0 4.21
0
Add: Changes
of accounting
policy
Error correction
of the last
period
58
深圳市深粮控股股份有限公司 2022 年年度报告全文
Enterprise
combine under
the same
control
Other
1,1
52, 1,25 439, 1,91 4,76 69,5 4,83
II. Balance at 220,
535 0.0 0.0 0.0 9,63 624, 0,95 2,97 11,7 2,48
the beginning 0.00 0.00 301. 0.00 0.00
of this year ,25 0 0 0 9,65 164. 4,08 3,46 22.4 5,18
70
4.0 6.65 67 4.79 1.81 0 4.21
0
III. Increase/ -119 -119 -119
Decrease in 172, -28,
0.0 ,984, ,811, ,839,
reporting period 922. 142.
(Decrease is 0 045. 122. 264.
81 46
listed with “-”) 19 38 84
168, 168, 167,
(i) Total -487
149, 149, 662,
comprehensive ,114.
income 768. 768. 654.
27
31 31 04
(ii) Owners’ 490, 490,
devoted and 0.0 0.0 0.0 0.0
decreased 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 000. 000.
0 0 0 0
capital 00 00
1.Common 490, 490,
shares invested 000. 000.
by shareholders 00 00
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity
with
share-based
payment
4. Other
-288 -288 -288
-31,
(III) Profit 0.0 0.0 0.0 0.0 ,133, ,133, ,164,
distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 028.
0 0 0 0 813. 813. 841.
19
50 50 69
1. Withdrawal
of surplus
reserves
2. Withdrawal
of general risk
provisions
-288 -288 -288
3. Distribution -31,
,133, ,133, ,164,
for owners (or 028.
shareholders) 813. 813. 841.
19
50 50 69
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital
reserves
converted to
capital (share
capital)
2. Surplus
reserves
converted to
capital (share
capital)
59
深圳市深粮控股股份有限公司 2022 年年度报告全文
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
172, 172, 172,
(V) Reasonable
reserve 922. 922. 922.
81 81 81
1. Withdrawal 880, 880, 880,
in the reporting 675. 675. 675.
period 98 98 98
707, 707, 707,
2. Usage in the
reporting period 753. 753. 753.
17 17 17
(VI)Others
1,1
52, 1,25 439, 1,79 4,64 69,4 4,71
IV. Balance at 393,
535 0.0 0.0 0.0 9,63 624, 0,97 3,16 83,5 2,64
the end of the 0.00 0.00 224. 0.00 0.00
reporting period ,25 0 0 0 9,65 164. 0,03 2,33 79.9 5,91
51
4.0 6.65 67 9.60 9.43 4 9.37
0
Last period
Unit: RMB/CNY
2022 semi-annual
Owners’ equity attributable to the parent Company
Other
equity
instrument
Pe Othe
Less
rpe r Prov Total
: Reas Mino
Sha tua Capi com Surp ision Reta owne
Item Inve onab rity
Pr
re l tal preh lus of ined Othe Subt rs’
efe ntor le intere
cap ca reser ensi reser gene profi r otal equit
rre Oth y reser sts
ital pit ve ve ve ral t y
d er shar ve
al inco risk
sto es
sec me
ck
uri
tie
s
1,1 1,25 405, 1,81 4,63 66,61 4,696
I. Balance at 52, 9,63 575, 2,54 0,29 ,906,
the end of the 4,164
last year 535 9,65 490. 1,70 2,10 266.7
,25 6.65 42 1.27 2.34 .37 1
60
深圳市深粮控股股份有限公司 2022 年年度报告全文
4.0
0
Add: Changes
of accounting
policy
Error
correction of
the last period
Enterprise
combine under
the same
control
Other
1,1 1,25 405, 1,81 4,63 66,61 4,696
52, 9,63 575, 2,54 0,29 4,164 ,906,
II. Balance at 535 9,65 490. 1,70 2,10 .37 266.7
the beginning
of this year ,25 6.65 42 1.27 2.34 1
4.0
0
III. Increase/ -50, -50, 5,575 -45,0
Decrease in
reporting 606, 606, ,325. 30,70
period 030. 030. 32 5.25
(Decrease is
listed with “-”) 57 57
237, 237, 675,3 238,2
(i) Total 527, 527, 25.32 03,10
comprehensive
income 782. 782. 8.25
93 93
(ii) Owners’ 4,900 4,900
devoted and
decreased
,000. ,000.
capital 00 00
1.Common 4,900 4,900
shares invested
by
,000. ,000.
shareholders 00 00
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned into
owners equity
with
share-based
payment
4. Other
-288 -288 -288,
(III) Profit ,133, ,133 133,8
distribution 813. ,813 13.50
50 .50
1. Withdrawal
of surplus
reserves
2. Withdrawal
of general risk
provisions
3. Distribution -288 -288 -288,
61
深圳市深粮控股股份有限公司 2022 年年度报告全文
for owners (or ,133, ,133 133,8
shareholders)
813. ,813 13.50
50 .50
4. Other
(IV) Carrying
forward
internal
owners’ equity
1. Capital
reserves
converted to
capital (share
capital)
2. Surplus
reserves
converted 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
723, 723, 723,6
1. Withdrawal
in the reporting 692. 692. 92.27
period
27 27
723, 723, 723,6
2. Usage in the
reporting 692. 692. 92.27
period
27 27
(VI)Others
1,1 1,25 405, 1,76 4,57 72,18 4,651
IV. Balance at 52, 9,63 575, 1,93 9,68 9,489 ,875,
the end of the 535 9,65 490. 5,67 6,07 .69 561.4
reporting ,25 6.65 42 0.70 1.77 6
period
4.0
0
8. Statement of changes in owners’ equity (parent company)
Current period
Unit: RMB/CNY
2023 semi-annual
Share Other Capita Less: Other Reaso Surplu Retai
Item Total
equity instrument compr nable s ned
capit l Invent Other owners’
ehensi reserv reserv profi
al Prefe Perp Othe reserv ory equity
ve e e t
62
深圳市深粮控股股份有限公司 2022 年年度报告全文
rred etual r e shares incom
stock capit e
al
secur
ities
1,152 0.00 0.00 0.00 3,018, 0.00 0.00 0.00 167,21 313, 0.00 4,651,31
I. Balance at ,535, 106,56 9,736. 453, 5,394.18
the end of the
last year 254.0 8.27 53 835.
0 38
Add: Changes
of accounting
policy
Error
correction of
the last period
Other
1,152 0.00 0.00 0.00 3,018, 0.00 0.00 0.00 167,21 313, 0.00 4,651,31
II. Balance at
,535, 106,56 9,736. 453, 5,394.18
the beginning
of this year 254.0 8.27 53 835.
0 38
III. Increase/ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -248, -248,203
Decrease in 203, ,380.84
reporting 380.
period
(Decrease is 84
listed with “-”)
39,9 39,930,4
(i) Total
30,4 32.66
comprehensive
income 32.6
6
(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
0.00
with
share-based
payment
4. Other 0.00
-288, -288,133
(III) Profit 133, ,813.50
distribution 813.
50
1. Withdrawal 0.00
of surplus
reserves
63
深圳市深粮控股股份有限公司 2022 年年度报告全文
-288, -288,133
2. Distribution 133, ,813.50
for owners (or
shareholders) 813.
50
3. Other 0.00
(IV) Carrying 0.00
forward
internal
owners’ equity
1. Capital 0.00
reserves
converted to
capital (share
capital)
2. Surplus 0.00
reserves
converted to
capital (share
capital)
3. Remedying 0.00
loss with
surplus reserve
4．Carry-over 0.00
retained
earnings from
the defined
benefit plans
5．Carry-over 0.00
retained
earnings from
other
comprehensive
income
6. Other 0.00
(V) 0.00
Reasonable
reserve
1. Withdrawal 0.00
in the
reporting
period
2. Usage in the 0.00
reporting
period
(VI)Others 0.00
IV. Balance at 1,152 0.00 0.00 0.00 3,018, 0.00 0.00 0.00 167,21 65,2 0.00 4,403,11
the end of the ,535, 106,56 9,736. 50,4 2,013.34
reporting 254.0 8.27 53 54.5
period 0 4
Last period
Unit: RMB/CNY
2022 semi-annual
Other Other
Shar Capit Less:
equity instrument compr Surpl
Item Reason Total
e al Invent ehensi us Retaine
Pref Perp able Other owners’
capit Othe reserv ory ve reserv d profit
erre etual reserve equity
al r e shares incom e
d capit e
64
深圳市深粮控股股份有限公司 2022 年年度报告全文
stoc al
k secu
ritie
s
1,15
I. Balance at 3,018, 133,1 295,14
2,53 4,598,96
the end of the 106,5 71,06 9,580.6
last year 5,25 2,465.18
68.27 2.28 3
4.00
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Other
1,15
II. Balance at 3,018, 133,1 295,14
2,53 4,598,96
the beginning 106,5 71,06 9,580.6
of this year 5,25 2,465.18
68.27 2.28 3
4.00
III. Increase/
Decrease in
reporting -226,11
-226,114,
period 4,901.2
(Decrease is 901.23
3
listed with
“-”)
(i) Total
62,018, 62,018,9
comprehensiv
e income 912.27 12.27
(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
-288,13 -288,133,
(III) Profit
3,813.5 813.50
distribution
0
1.
Withdrawal
of surplus
reserves
2. -288,13 -288,133,
Distribution
for owners 3,813.5 813.50
65
深圳市深粮控股股份有限公司 2022 年年度报告全文
(or 0
shareholders)
3. Other
(IV) Carrying
forward
internal
owners’
equity
1. Capital
reserves
converted to
capital (share
capital)
2. Surplus
reserves
converted 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
comprehensiv
e income
6. Other
(V)
Reasonable
reserve
1.
Withdrawal
in the
reporting
period
2. Usage in
the reporting
period
(VI)Others
1,15 3,018, 133,1 69,034, 4,372,84
IV. Balance at
the end of the 2,53 106,5 71,06 679.40 7,563.95
reporting 5,25 68.27 2.28
period
4.00
III. Basic information of Company
1. Company profile
Shenzhen Cereals Holdings Co., Ltd. (formerly the Shenzhen Shenbao Industrial Co., Ltd., hereinafter referred to
as “SZCH”, “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 August 1991.Approved by the People’s Bank of
66
深圳市深粮控股股份有限公司 2022 年年度报告全文
China(Document (1991)No.126), the Company was listed on Shenzhen Stock Exchange. The Company belongs to
the grain, oil, food and beverage industry.
As of June 30, 2023, 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,
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 preservation).
The parent enterprise of the Company is Shenzhen Food Materials Group Co., Ltd and the actual controller of the
Company is Shenzhen Municipal People’s Government State-owned Assets Supervision & Administration
Commission
For more details of change of the consolidation scope in the reporting period, please refer to “Note VIII. Change
of consolidation scope”
For more details of subsidiaries of the company, please refer to “Note IX. Equity in other entities”.
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
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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 financial statement has been prepared on a going concern basis.
V. Major accounting policy and accounting estimate
Specific accounting policies and accounting estimate tips:
The following disclosure contents cover the specific accounting policies and estimates formulated by the company
based on the actual production and operation characteristics. Please refer to “15. Inventory”, “24. Fixed Assets”,
and “39. Revenue” in this note for details.
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 June 30, 2023, as well as the consolidate and parent company’s operational
results and cash flow in the period from January to June 2023.
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. Business cycle
The business cycle of the Company is 12 months.
4. Recording currency
The Company and its subsidiaries take RMB as the standard currency for bookkeeping.
5. Accounting treatment method for business combinations under the same/different 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
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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
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/losses. Each identifiable assets, liabilities and contingent liability of the acquiree acquired in a combination
that qualifies for recognition is measured by fair value at the date of purchase.
The direct 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 Consolidation 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 Consolidation 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, such 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.
The owners’ equity of subsidiaries, current net gains/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. The balance arising from the current loss
shared by the minority shareholders of a subsidiary exceeding the minority shareholders’ share in the initial
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owners’ equity of the subsidiary shall be offset against the minority shareholders’ equity.
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.
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/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 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
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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
gains/losses 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 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 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. Classification of joint venture arrangement and accounting for joint operations
The joint venture arrangement are divided into joint operations and joint ventures.
The joint operation implies a joint venture arrangement in which the joint ventures enjoys the assets and bear the
liabilities associated with the arrangement.
The Company recognized the following items related to its shares of interest in the joint operation:
1) Recognition of the assets held separately by the Company, and recognition of the jointly held assets based on
the share of the Company;
2) Recognition of the liabilities born by the Company individually and liabilities born jointly in proportion to
the shares;
3) Recognition of revenue from the sales of the shares of common operating output;
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4) Recognition of the revenue from joint operation arising from the sale of the output at the shares;
5) Recognition of the separately incurred costs and recognition of the expenses incurred in joint operations
based on the shares;
Investment in joint venture is measured with equity method. For more details, please refer to “Note V(22)
Long-term equity investment”
8. 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.
9. Foreign currency business and conversion of foreign currency statement
9.1 Foreign currency business
The foreign currency business uses the spot exchange rate (or: using an exchange rate determined in accordance
with a systematic and reasonable method that approximates the spot rate on the date of the transaction. Tip: if the
method is used, what method and what caliber should be specified) 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 gains/losses.
9.2 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 the time of occurrence. Income and expense items in the income statement are converted at the spot exchange
rate (or: using an exchange rate determined in accordance with a systematic and reasonable method that
approximates the spot rate on the date of the transaction. Tip: if the method is used, what method and what caliber
should be specified)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
gains/losses.
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10. Financial instruments
The Company recognizes a financial assets, financial liabilities or equity instrument when it becomes a party to a
financial instrument contract.
10.1 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
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 gains/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 gains/losses.
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In the initial recognition, financial liabilities are classified as the financial liabilities measured at fair value and
whose changes are included in current gains/losses 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 gains/losses 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.
10.2 Recognition and measurement for financial instrument
1) Financial assets measured by amortized cost
Financial assets measured by amortized cost include notes receivable, accounts receivable, other receivables,
long-term receivables, and debt investment, which are initially measured by 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
gains/losses.
When recovering or disposing, the difference between the price obtained and the book value of the financial asset
is included in the current gains/losses.
2) Financial assets (debt instruments) measured by fair value and whose changes are included in other
comprehensive income
Financial assets (debt instruments) measured by fair value and whose changes are included in other
comprehensive income, including receivables financing, other debt investment, etc., are initially measured by fair
value, and related transaction expenses are included in the initial recognition amount. The financial assets are
subsequently measured by fair value, and the changes in fair value are included in other comprehensive income
except for interest, impairment losses or gains and exchange gains/losses calculated by using the effective interest
method.
When a financial asset is derecognized, the accumulated gain or loss previously included in other comprehensive
income is transferred from other comprehensive income and included in current gains/losses.
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3) Financial assets (equity instruments) measured by fair value and whose changes are included in other
comprehensive income
Financial assets (equity instruments) measured by fair value and whose changes are included in other
comprehensive income, including other equity instruments, etc., are initially measured by fair value, and related
transaction expenses are included in the initially recognized amount. The financial assets are subsequently
measured by fair value, and changes in fair value are included in other comprehensive income. The dividends
obtained are included in the current gains/losses.
When a financial asset is terminated for recognition, the accumulated gains or losses previously included in other
comprehensive income is transferred from other comprehensive income and included in retained earnings.
4) Financial assets measured by fair value and whose changes are included in current gains/losses
Financial assets measured by fair value and whose changes are included in current gains/losses, including tradable
financial assets, derivative financial assets and other non-current financial assets, etc., are initially measured by
fair value, and related transaction expenses are included in the initial recognition amount. The financial assets are
subsequently measured by fair value, and changes in fair value are recognized in current gains/losses.
5) Financial liabilities measured by fair value and whose changes are included in current gains/losses
Financial liabilities measured by fair value and whose changes are included in current gains/losses, including
transaction financial liabilities, derivative financial liabilities, etc., are initially measured by fair value, and related
transaction expenses are included in current gains/losses. The financial liabilities are subsequently measured by
fair value, and changes in fair value are included in current gains/losses.
When a financial liability is terminated for recognition, the difference between book value and the consideration
paid shall be recorded into the current gains/losses.
6) Financial liabilities measured by amortized cost
Financial liabilities measured by amortized cost, including short-term borrowings, bills payable, accounts payable,
other payable, long-term borrowings, bonds payable, and long-term payable, are initially measured by 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
gains/losses.
When a financial liability is terminated for recognition, the difference between the consideration paid and the
book value of the financial liability is included in current gains/losses.
10.3 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:
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－ 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 partial transfer. As for the entire transfer meeting
condition for discontinued recognition, balance between the following two items is recorded in current
gains/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 by fair
value and whose changes are recorded into other comprehensive income)
As for the partial 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/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 by 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.
10.4 Terminating the recognition of financial liability
As for the financial liabilities with its whole or partial 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, the company shall
terminate the recognition for the existing financial liabilities and recognize the new financial liabilities provided
that the contract clauses of the new and the existing financial liabilities are different in substance.
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If the company makes substantial amendment to the whole or partial 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 terminating 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/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/losses.
10.5 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;
in case there is no active market for a financial instrument, the valuation techniques will be used to determine its
fair value. At the time of valuation, the Company adopts applicable valuation techniques in the present case for
which there is enough available data and other information technology to support valuation, chooses input values
that are consistent with the asset or liability characteristics considered by market participants in the transaction of
related assets or liabilities, and prioritizes the use of relevant observable input values. Where relevant observable
inputs can not get or do not get as far as practicable, the use of un-observable inputs.
10.6 Testing of the financial assets impairment and accounting treatment
The Company estimates the expected credit losses of financial assets measured by 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
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 risen 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 risen 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
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included in the current gains/losses 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 is 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.
11. Note receivable
12. Account receivable
13. Receivable financing
14. Other account receivable
15. Inventory
15.1 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.
15.2 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.
15.3 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 gains/losses.
15.4 Inventory system
Inventory system is the perpetual inventory system.
15.5 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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16. Contract asset
16.1 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.
16.2 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 V(10)
Financial instrument
17. Contract cost
18. Assets held for sale
If the book value of a non-current asset or disposal group is mainly recovered through sale (including the
exchange of non monetary assets with commercial substance) rather than continuous use, it is classified as held
for sale.
The Company classifies non-current assets or disposal groups that meet the following conditions as held for sale
categories:
(1) According to the convention of selling such assets or disposal groups in similar transactions, they can be
immediately sold under current conditions;
(2) The sale is highly likely to occur, as the company has already made a decision on a sale plan and obtained a
confirmed purchase commitment, and it is expected that the sale will be completed within one year. The
relevant regulations require approval from the relevant authority or regulatory department of the company
before sale, and approval has been obtained.
If the book value of non-current assets (excluding financial assets, deferred income tax assets, and assets formed
by employee compensation) or disposal groups held for sale is higher than the net amount of fair value minus
selling expenses, the book value shall be written down to the net amount of fair value minus selling expenses. The
written down amount shall be recognized as asset impairment loss and included in the current gains/losses, and a
provision for impairment of held for sale assets shall be made.
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19. Creditors’ investment
20. Other creditors’ investment
21. Long-term account receivable
22. Long-term equity investment
22.1 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.
22.2 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.
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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
initial investment cost.
For long-term equity investments obtained through issuance of equity securities, the fair value of such securities
shall be viewed as initial investment cost
22.3 Subsequent measurement and recognition of gains/losses
1. Long-term equity investment measured by cost
The long-term equity investment in subsidiary shall be measured by cost, unless such investment satisfies
conditions for 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/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/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
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the unrealized internal transaction losses with the investee are assets impairment losses, they will be fully
recognized.
In addition to assuming obligations for additional losses, the company’s net losses to joint ventures or associated
enterprise 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/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 gains/losses 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 gains/losses 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 gains/losses 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
gains/losses, and all other comprehensive income and other owner's equity changes recognized before obtaining
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the control of the investee are carried forward.
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 gains/losses of the loss of control when the control is lost. If it is not a package transaction, each
transaction shall be accounted for separately.
23. 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.
24. Fixed 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.
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Fixed assets are initially measured at cost (and considering the impact of expected abandonment cost factors).
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 gains/losses when incurred.
(2)Depreciation methods
Years of Scrap value Yearly depreciation
Category Method
depreciation rate rate
Straight-line
House and buildings
depreciation
Straight-line
Production buildings 20-35 5 2.71-4.75
depreciation
Straight-line
Non-production buildings 20-40 5 2.38-4.75
depreciation
Temporary dormitory and simple room Straight-line
5-15 5 6.33-19.00
etc. depreciation
Straight-line
Gas storage bin 20 5 4.75
depreciation
Straight-line
Silo 50 5 1.90
depreciation
Straight-line
Wharf and supporting facilities 50 5 1.90
depreciation
Straight-line
Machinery equipment
depreciation
Straight-line
Other machinery equipment 10-20 5 4.75-9.50
depreciation
Straight-line
Warehouse transmission equipment 20 5 4.75
depreciation
Straight-line
Transport equipment 3-10 5 9.50-31.67
depreciation
Straight-line
Electronic equipment and others 2-10 5 9.50-47.50
depreciation
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The expected net residual value rate determines the depreciation rate. For fixed assets with provision for
impairment, the depreciation amount shall be determined based on the book value after deducting the impairment
provision and the remaining useful life in the future period. In case each component of a fixed asset has different
service life or provides economic benefits to the enterprise in different ways, different depreciation rates or
methods should be chosen and depreciation should be calculated separately.
(3) Recognition, measurement and depreciation of fixed assets held under finance lease
25. 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.
26. Borrowing expenses
26.1 Recognition of the borrowing expenses capitalization
The borrowing costs incurred by the company, which can be directly attributed to the acquisition, construction or
production of assets that meet the capitalization conditions, shall be capitalized and included in the relevant asset
costs; Other borrowing costs are recognized as expenses based on their amount at the time of occurrence and
included in the current gains/losses.
Assets satisfying the conditions of capitalization refer to fixed assets, investment real estate inventories and other
assets which take a long period of time to purchase, construct, or manufacturing before becoming usable.
26.2 Period of capitalization
The capitalization period refers to the period from the time when the capitalization of borrowing costs starts to the
time when the capitalization stops, excluding the period when the capitalization of borrowing costs is suspended.
The borrowing expense shall be capitalized in case all the following conditions are satisfied 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.
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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.
26.3 Period of capitalization suspension
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 satisfy the conditions of capitalization meet 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 capitalization suspension shall reckon into current gains/losses until the purchasing, construction, or
manufacturing process is resumed for capitalizing.
26.4 Capitalization rate of the borrowing expense, 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.
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.
27. Biological assets
(1) The 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.
(2) Biological assets are initially measured at cost.
(3) The necessary expenditures incurred by productive biological assets before reaching the intended production
and operation purposes constitute the cost of productive biological assets. Subsequent expenditures incurred
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after achieving the intended production purposes shall be included in the current gains/losses.
(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
gains/losses. The consumptive biological assets are carried at cost when harvested using the proportional
method of accumulation.
(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%. 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.
(6) Public welfare biological assets 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 public welfare biological assets 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 before the closure, including borrowing costs that meet the conditions for capitalization.
Public welfare biological assets are subsequently measured at cost. There is no need to withdraw the asset
impairment reserve for public welfare biological assets.
(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 gains/losses.
28. Oil and gas assets
29. Right-of-use assets
30. Intangible assets
(1) Measurement, use of life and impairment testing
1) The intangible assets are measured at cost when the Company acquires intangible assets;
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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.
2)Subsequent measurement
The service life of an intangible asset shall be analyzed and judged when such intangible assets is 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.
Estimation of the service life of intangible assets with limited service life
Residual value
Item Predicted useful life Amortization method Basis
rate
Land use right Amortized the actual rest of life after Straight-line method 0.00% Certificate of land use
certificate of land use right obtained right
Forest tree use Service life arranged Straight-line method 0.00% Protocol agreement
right
Trademark use 10 years Straight-line method 0.00% Actual situation of the
right Company
Shop management Service life arranged Straight-line method 0.00% Protocol agreement
right
Software use right 5-8 years Straight-line method 0.00% Protocol agreement
Patents and others 20 years Straight-line method 0.00% Actual situation of the
Company
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 the useful life of such intangible assets 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 internal R&D expenditure
Specific criteria for dividing research and development stages
The expenditure for internal R&D is divided into research expenditure and development expenditure.
Research stage: The stage of creative and planned research activities to acquire and understand new scientific or
technological knowledge, etc
Development stage: stage of the activities that produced new or material advance materials, devices and products
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that by research results or other knowledge adoption in certain plan or design before the commercial production or
usage.
Specific conditions for capitalization of expenditure during the development phase
Expenditures in the research phase are included in the current gains/losses 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
gains/losses:
(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.
31. 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, the
provision for impairment and impairment loss shall be 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 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.
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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.
32. 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.
33. 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.
34. 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 pays 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.
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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 gains/losses 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 gains/losses 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 gains/losses 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.
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 gains/losses 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.
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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
gains/losses: 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
35. Lease liability
36. 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.
Accrual liabilities shall conduct initial measurement by best estimation of expenditures needed by fulfillment of
current responsibilities.
While determining the best estimation, take the risks, uncertainty and periodic value of currency related to the
contingent issues into consideration. For major influence from periodic value of currency, determine the best
estimation after discount on future relevant cash outflow.
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 estimation 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.
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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.
37.Share-based payment
The Company’s share-based payment is a transaction that grants equity instruments or assumes liabilities
determined based on equity instruments in order to obtain services from employees or other parties. The
Company’s share-based payment is divided into equity-settled share-based payment and cash-settled share-based
payment.
37.1 Equity-settled share-based payments and equity instruments
The equity-settled share-based payment in exchange for services provided by employees shall be measured at the
fair value of equity instruments granted to employees. For share-based payment transactions that can be exercised
immediately after the grant, the fair value of the equity instrument is included in the relevant cost or expenses on
the grant date, and the capital reserve is increased accordingly. For share-based payment transactions that can be
exercised only after completing the services during the waiting period or meeting the specified performance
conditions after the grant, on each balance sheet date during the waiting period, the Company shall include the
services obtained in the current period in the relevant cost or expenses based on the best estimate of the number of
viable equity instruments and the fair value on the grant date, and increase the capital reserve accordingly.
If the terms of the equity-settled share-based payment are modified, at least the services acquired are recognized
as if the terms were not modified. In addition, any modification that increases the fair value of the granted equity
instruments, or a change in favor of the employee on the modification date, is recognized as an increase in
services received.
During the waiting period, if the granted equity instrument is canceled, the Company will treat the canceled
granted equity instrument as an accelerated exercise, and immediately include the amount that should be
recognized during the remaining waiting period in the current gains/losses, and recognize the capital reserve at the
same time. However, if a new equity instrument is granted and it is determined that the new equity instrument
granted is to replace the canceled equity instrument on the grant date of the new equity instrument, then in the
same manner as the modification of the terms and conditions of the original equity instrument, the granted
alternative equity instruments are processed.
37.2 Cash-settled share-based payments and equity instruments
The cash-settled share-based payment shall be measured at the fair value of the liabilities calculated and
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determined on the basis of shares or other equity instruments undertaken by the Company. For share-based
payment transactions that can be exercised immediately after the grant, the Company shall include them in the
relevant cost or expenses at the fair value of the liabilities on the grant date, and increase the liabilities accordingly.
For share-based payment transactions that can be exercised only after completing the service during the waiting
period or meeting the specified performance conditions, on each balance sheet date during the waiting period, the
Company shall include the services obtained in the current period in the relevant cost or expenses based on the
best estimate of the viable equity instruments and the fair value of the liabilities undertaken by the Company, and
include in the liabilities accordingly. On each balance sheet date and settlement date before the settlement of
relevant liabilities, the fair value of the liabilities is re-measured, and the changes are included in the current
gains/losses.
38. 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
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.
39. Revenue
Accounting policy used for revenue recognition and measurement
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39.1 Accounting policy used for 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:
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 obligations to be 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.
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For obligations to be 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.
39.2 Specific principles
1. Revenue from sales of goods: The realization of sales revenue is recognized after the domestic sales of goods
have been delivered and in compliance with the relevant terms of the contract; for export sales, the realization of
sales revenue is recognized after the goods have been delivered and declared to the customs and meet the relevant
terms of the contract.
2. Income from the provision of labor services: The Company provides the grain and oil dynamic reserve and its
rotation services for the Shenzhen Municipal Government, and the income is recognized when the relevant labor
activities occur. Operating Regulations for Shenzhen Municipal Government Grain Reserve Cost Contracting and
Shenzhen Edible Vegetable Oil Government Reserve Expenses All-inclusive Operational Regulations shall be
used to calculate and confirm the service income of grain and oil reserves.
3. Other income:
1) The amount of income from royalties shall be calculated and determined according to the charging time and
method stipulated in the relevant contracts or agreements.
2) Income from property leasing such as real estate, dock warehouses, and dock docking business shall be
calculated and confirmed according to the charging time and method agreed in the contract or agreement.
Differences in accounting policies of revenue recognition resulted by the different operating models for the same type of business
40. Government subsidy
40.1 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.
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Specific criteria for classifying the government subsidy as asset-related by the Company are: Government subsidy
obtained by the company for the purchase, construction, or other forms of long-term assets
Specific criteria for classifying the government subsidy as income-related by the Company are: Government
subsidies obtained by the company except for the government subsidies related to assets.
40.2 Recognition time point
If there is evidence at the end of the period that the company can meet the relevant conditions stipulated by the
financial support policy and is expected to receive financial support funds, the government subsidy shall be
recognized according to the amount receivable. In addition, government subsidies are recognized when they are
actually received.
If the government subsidy is a monetary asset, it shall be measured in terms of the amount received or receivable.
If the government subsidy is a non-monetary asset, it shall be measured at its fair value; if the fair value cannot be
obtained reliably, it shall be measured at its nominal amount (RMB 1). Government subsidies measured at the
nominal amount are directly included in the current gains/losses.
40.3 Accounting treatment
Based on the essence of economic business, the company determines whether a certain type of government
subsidy business should be accounted for using the gross method or the net method. Normally, the company only
selects one method for the same or similar government subsidy business, and uses that method consistently for
that business.
Category Accounting content
Types of government subsidies accounted for using the gross method All government subsidies
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 gains/losses 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 gains/losses 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 gains/losses (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
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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.
41. 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 gains/losses.
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
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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;
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.
42. Lease
(1) Accounting treatment of operating leases
Lease refers to a contract in which the lessor transfers the right to use an asset to the lessee for a certain period of
time in order to obtain consideration. On the start date of the contract, the company evaluates whether the contract
is a lease contract or the contract includes a lease. In case one party of the contract transfers the right to control the
use of one or more identified assets for a certain period of time in exchange for consideration, such contract is
considered a lease contract or such contract includes a lease.
If multiple separate leases are included in the contract, the company will split the contract and perform accounting
for each separate lease separately. If the contract includes both the leased and non-leased parts, the lessee and
lessor shall split the leased and non-leased parts. However, the company, in case serving as the lessee, choose not
to split the contract and combine the leasing parts and their related non-leasing parts into a lease.
For rent reduction, deferred payment and other rent concession in respect of the existing lease contract which are
directly caused by implementing the document ZHXCK[2022]No. 13, if the following conditions are met at the
same time, the Company will adopt a simplified method for all leases, and will not evaluate whether there is any
change in lease or re-evaluate the lease classification:
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The lease consideration after concession is reduced or basically unchanged compared with that before
concession, where the lease consideration is not discounted or is discounted at the discount rate before
concession;
After considering both qualitative and quantitative factors, it is determined that there are no significant
changes in the other terms and conditions of the lease.
42.1 the Company serves as lessor
1. Right-of-use assets
On the commencement date of the lease period, the Company recognizes right-of-use assets for leases other than
short-term leases and leases of low-value assets. Right-of-use assets are initially measured at cost. This cost
includes:
The initial measurement amount of the lease liability;
The lease payment amount paid on or before the start date of the lease period, if there is a lease incentive,
deduct the relevant amount of the lease incentive already enjoyed;
Initial direct expenses incurred by the company;
The estimated costs incurred by the Company for dismantling and removing the leased assets, restoring the
site where the leased assets are located, or restoring the leased assets to the state agreed upon in the lease
terms, but do not include the costs incurred for the production of inventories.
The Company subsequently adopts the straight-line method to depreciate the right-of-use assets. If it can be
reasonably determined that the ownership of the leased asset will be obtained at the expiration of the lease term,
the company shall accrue depreciation within the remaining useful life of the leased asset; otherwise, the leased
asset shall be depreciated within the shorter of the lease term and the remaining useful life of the leased asset. .
The company determines whether the right-of-use asset has been impaired in accordance with the principles
described in Note V. (31) Impairment of long-term assets, and performs accounting treatment on the identified
impairment losses.
2.Lease liabilities
On the commencement date of the lease term, the Company recognizes lease liabilities for leases other than
short-term leases and leases of low-value assets. The lease liability is initially measured at the present value of
outstanding lease payments. Lease payments include:
Fixed payments (including actual fixed payments), deduct the relevant amount of the lease incentive if any;
Variable lease payments that depend on an index or rate;
The expected payment according to the residual value of the guarantee provided by the company;
The exercise price of the purchase option, provided that the company is reasonably certain that the option
will be exercised;
Payments for exercising the option to terminate the lease, provided that the lease term reflects that the
company will exercise the option to terminate the lease.
The company uses the interest rate implicit in the lease as the discount rate, but if the interest rate implicit in the
lease cannot be reasonably determined, the company’s incremental borrowing rate is used as the discount rate.
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The company calculates the interest expense of the lease liability in each period of the lease term according to the
fixed periodic interest rate, and includes it into the current gains/losses or the cost of related assets.
Variable lease payments that are not included in the measurement of lease liabilities are included in the current
gains/losses or the cost of related assets when they are actually incurred.
After the commencement date of the lease term, the Company shall re-measure the lease liabilities and adjust the
corresponding right-of-use assets under the following circumstances. 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 The difference is included in
the current gains/losses:
When there is a change in the evaluation results of the purchase option, lease renewal option or termination
option, or the actual exercise of the aforementioned options is inconsistent with the original evaluation result,
the company will calculate the lease payment after the change and the revised discount. Remeasure the lease
liability at the present value of the rate calculation;
When the actual fixed payment changes, the estimated payable amount of the residual value guarantee
changes, or the index or ratio used to determine the lease payment changes, the company calculates the
present value based on the changed lease payment and the original discount rate Remeasure the lease liability.
However, where changes in lease payments result from changes in floating interest rates, a revised discount
rate is used to calculate the present value.
3.Short-term leases and low-value asset leases
The company doesn’t recognize right-of-use assets and lease liabilities for short-term leases and low-value asset
leases, and includes the relevant lease payments in the current gains/losses or related asset costs on a straight-line
basis over each period of the lease term. Short-term leases refer to leases with a lease term of not more than 12
months and excluding purchase options on the commencement date of the lease term. A low-value asset lease
refers to a lease with a lower value when a single leased asset is a brand-new asset. If the company subleases or
expects to sublease the leased assets, the original lease is not a low-value asset lease.
4.Lease change
If the lease changes and the following conditions are met at the same time, the company will account for the lease
change as a separate lease:
The lease modification expands the scope of the lease by adding the right to use one or more leased assets;
The increased consideration is equivalent to the amount adjusted by the individual price of the expanded part
of the lease scope according to the contract.
If the lease change is not accounted for as a separate lease, on the effective date of the lease change, the company
re-allocates the consideration of the contract after the change, re-determines the lease term, and calculates the
current value based on the lease payment after the change and the revised discount rate to remeasure the lease
liability.
If the lease change leads to the narrowing of the lease scope or the shortening of the lease term, the company will
reduce the book value of the right-of-use asset accordingly, and include the relevant gains or losses on partial or
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complete termination of the lease into the current gains/losses. If other lease changes result in re-measurement of
lease liabilities, the Company adjusts the book value of the right-of-use asset accordingly.
42.2 The Company serves as the lessee
On the commencement date of the lease, the company divides the lease into financing lease and operating lease.
Finance lease refers to a lease that, regardless of whether ownership is ultimately transferred or not, essentially
transfers almost all the risks and rewards related to the ownership of the leased asset. Operating leases refer to
leases other than financing leases. When the company serves as a sublease lessor, the sublease is classified based
on the use rights assets generated from the original lease.
1. Accounting treatment for operating leases
The lease receipts from operating leases are recognized as rental income on a straight-line basis during each
period of the lease term. The company capitalizes the initial direct expenses related to operating leases and books
them to the current gains/losses on the same basis as rental income recognition during the lease term. The variable
lease payments that are not included in the lease receipts are recognized in the current gains/losses at the time of
actual occurrence. If there is a change in the operating lease, the company will treat it as a new lease for
accounting treatment from the effective date of the change, and the advance or receivable lease receipts related to
the lease before the change are considered as the new lease receipts.
2. Financial leasing accounting treatment
On the lease commencement date, the company recognizes the receivable financing lease payments for financing
leases and derecognize financing lease assets. When the company initially measures the receivable financing lease
payments, the net lease investment is recognized as the booked value of the receivable financing lease payments.
The net lease investment is the sum of the unguaranteed residual value and the present value of the lease receipts
that have not been received on the start date of the lease term discounted at the implicit interest rate of the lease.
Our company calculates and recognizes interest income for each period of the lease term at a fixed periodic
interest rate. The derecognition and impairment of financing lease receivables shall be accounted for in
accordance with “V. (10) Financial Instruments” in this note.
Variable lease payments that are not included in the measurement of net lease investment are recognized in the
current gains/losses at the time of actual occurrence.
If there is a change in the financing lease and the following conditions are met simultaneously, the company will
treat this change as a separate lease for accounting purposes:
The change expands the lease scope by increasing the right to use one or more leased assets;
The increased consideration is equivalent to the individual price for most of the expansion of the lease scope
adjusted according to the contract status.
If the change in financing lease is not treated as a separate lease for accounting purposes, the company will handle
the changed lease in the following situations:
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If the change takes effect on the lease commencement date and the lease will be classified as an operating
lease, the company will treat it as a new lease for accounting purposes starting from the effective date of the
lease change, and use the net lease investment before the effective date of the lease change as the book value
of the leased asset;
If the change takes effect on the lease commencement date, and the lease will be classified as a financing
lease, the company will conduct accounting treatment in accordance with the policy on modifying or
renegotiating contracts in “V. (10) Financial Instruments” of this note.
42.3 Leaseback transactions
The company evaluates and determines whether the asset transfer in the leaseback transaction are sales in
accordance with the principles stated in “Note V. (39) Revenue”.
1. The company acts as lessee
In case the transfer of assets in leaseback transaction is sales, the company, as the lessee, measures the
right-of-use assets formed by leaseback based on the portion of the original asset book value related to the
leaseback obtained in the book value of original assets, and only recognizes the relevant gains or losses based on
the rights transferred to the lessor; If the asset transfer in leaseback transaction does is not sales, the company, as
the lessee, continues to recognize the transferred asset and recognizes a financial liability equal to the transfer
income. The accounting treatment of financial liabilities is detailed in “Note V. (10) Financial Instruments” .
2. The Company serves as lessor
In case the transfer of assets in leaseback transaction is sales, the company, as the lessor, conducts accounting
treatment for the purchase of assets, and conducts accounting treatment for asset leasing in accordance with the
aforementioned policy of “2. The company as the lessor”; In case the transfer of assets in leaseback transaction
does not belong to sales, the company, as the lessor, does not recognize the transferred assets, but recognizes a
financial asset equal to the transfer income. The accounting treatment of financial assets is detailed in “Note V.
(10) Financial Instruments”.
（2）Accounting treatment method of financial leasing
43. Other important accounting policy and estimation
44. Changes of important accounting policy and estimation
(1) Changes of important accounting policies
Applicable □ Not applicable
Content & reasons Approval procedure Note
On November 30, 2022, the Ministry of Finance issued Interpretation No. 16 of the Accounting Standards for
Business Enterprises (CK[2022] No. 31, hereinafter referred to as “Interpretation No. 16”), which states that
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“accounting treatment for deferred income tax related to assets and liabilities arising from individual transactions
does not apply to initial recognition exemption” shall be implemented from January 1, 2023, allowing enterprises
to execute it in advance from the year of publication. The company implemented the accounting treatment related
to this matter from January 1, 2023, and this matter has no significant impact on the company’s financial
statements during the reporting period.
(2) Changes of important accounting estimate
□ Applicable Not applicable
(3) Related items of financial statements at the beginning of the first year to implement the new accounting standards
adjustment for the first time starting from 2023
□Applicable Not applicable
45.Others
Nil
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 13.00%, 9.00%, 6.00%, 5.00%, 3.00%
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 7.00%, 5.0%
value-added tax and consumption tax
Enterprise income tax Calculated according to taxable income 25.00%, 20.00%, 15.00%
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%, 12.00%
percent of the rental income if levy by
rents.
When the property right of the real
property is transferred, the contract price
Deed tax 3.00%-5.00%
shall be paid to the owner of the property
right in one lump sum
Rate of income tax for different taxpaying body:
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Taxpaying body Rate of income tax
Shenzhen Cereals Holdings Co., Ltd. 25.00%
25.00% , some businesses are
Shenzhen Cereals Group Co., Ltd(hereinafter referred to as “SZCG”)
tax-free
Shenzhen Hualian Grain and Oil Trading Co., Ltd.(hereinafter referred to as “Hualian Cereals and
25.00%
Oil”)
Dongguan Shenliang Hualian Cereals and Oil Trading Co., Ltd(hereinafter referred to as
25.00%
“Dongguan Hualian”)
Shenzhen Shenliang Hongjun Catering Management Co., Ltd.(hereinafter referred to as
25.00%
“Shenliang Hongjun”)
25.00% , some businesses are
Shenzhen Flour Co., Ltd(hereinafter referred to as “Shenzhen Flour”)
tax-free
Shenliang Quality Inspection Co., Ltd. (hereinafter referred to as “Shenliang Quality Inspection”) 20.00%
Hainan Shenliang Oil & Food Co., Ltd. (hereinafter referred to as “Hainan Oil & Food”) 20.00%
Shenzhen Shenliang Doximi Business Co., Ltd. (hereinafter referred to as “Doximi”) 25.00%
Shenzhen Shenliang Big Kitchen Food Supply Chain Co., Ltd(hereinafter referred to as “Big
25.00%
Kitchen”)
Zhenpin Market Operation Technology Co., Ltd. (hereinafter referred to “Zhenpin Market”) 25.00%
Shenzhen Shenliang Storage (Yingkou) Co., Ltd(hereinafter referred to as “Yingkou Storage”) 25.00%
Shenzhen Shenliang Cold Chain Logistics Co., Ltd.(hereinafter referred to as “Cold Chain
15.00%
Logistics”)
Shenzhen Shenliang Property Development Co., Ltd.(hereinafter referred to as “Shenliang
25.00%
Property Development”)
Shenzhen Shenliang Property Management Co., Ltd. (hereinafter referred to as “Shenliang
20.00%
Property Management”)
Dongguan Shenliang Logistics Co., Ltd.(hereinafter referred to as “Dongguan Logistics”) 25.00%
Dongguan International Food Industrial Park Development Co., Ltd.(hereinafter referred to as
25.00%
“International Food”)
Dongguan Shenliang Oil & Food Trade Co., Ltd.(hereinafter referred to as “Dongguan Oil &
25.00%
Food”)
Shuangyashan Shenliang Cereals Base Co., Ltd. (hereinafter referred to as “Shuangyashan”) 25.00%
Shenzhen Shenbao Huacheng Technology Co., Ltd. (hereinafter referred to as “Shenbao
15.00%
Huacheng”)
Wuyuan Ju Fang Yong Tea Industry Co., Ltd(hereinafter referred to as “Wuyuan Ju Fang Yong”) 15.00%
Shenzhen Shenshenbao Investment Co., Ltd(hereinafter referred to as “Shenshenbao Investment”) 25.00%
Shenzhen Shenshenbao Tea Culture Commercial Management Co., Ltd.(hereinafter referred to as
25.00%
“Shenbao Tea Culture”)
Hangzhou Ju Fang Yong Holding Co., Ltd(hereinafter referred to as “Ju Fang Yong Holding”) 25.00%
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深圳市深粮控股股份有限公司 2022 年年度报告全文
Hangzhou Fuhaitang Catering Management Chain Co., Ltd. (hereinafter referred to as “Fuhaitang
25.00%
Catering”)
Hangzhou Fuhaitang Tea Ecology Technology Co., Ltd(hereinafter referred to as “Fuhaitang Tea
25%
Ecology”)
Mount Wuyi Shenbao Rock Tea Co., Ltd.(hereinafter referred to as “Shenbao Rock Tea”) 25.00%
Yunnan Shenbao Pu’er Tea Supply Chain Management Co., Ltd. (hereinafter referred to as “Pu’er
25.00%
Tea Supply Chain”)
Shenzhen Shenliang Food Co., Ltd. (hereinafter referred to as “Shenzhen Shenliang Food”) 25.00%
Yunnan Pu’er Tea Trading Center Co., Ltd. (hereinafter referred to as “Pu’er Tea Trading Center”) 25.00%
Huizhou Shenliang Food Co., Ltd. (hereinafter referred to as “Huizhou Shenliang Food”) 25.00%
Huizhou Shenbao Technology Co., Ltd.(hereinafter referred to as “Huizhou Shenbao”) 25.00%
Zhenpin Market Operation Technology Co., Ltd. (hereinafter referred to “Zhenpin Market”) 25.00%
Shenzhen Shenbao Industrial & Trading Co., Ltd (hereinafter referred to as “Shenbao Industrial &
25.00%
Trading”)
Wuhan Jiacheng Biotechnology Co., Ltd (hereinafter referred to as “Wuhan Jiacheng”) 15.00%
Hubei Jiacheng Biotechnology Co., Ltd (hereinafter referred to as “Hubei Jiacheng”) 25.00%
Wuhan Hongqu Health Biology Co., Ltd (hereinafter referred to as “Wuhan Hongqu”) 25.00%
Macheng Jintian Camellia Oil Co., Ltd.(hereinafter referred to as“Macheng Jintian”) 25.00%
Shenliang Hongli Grain and Oil (Shenzhen) Co., Ltd (hereinafter referred to as “Shenliang
25.00%
Hongli”)
2. Preferential taxation
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 canceled 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
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深圳市深粮控股股份有限公司 2022 年年度报告全文
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 June 30, 2023, 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 “Announcement of the Ministry of Finance and the State Administration of
Taxation on Continuing the Implementation of Tax Preferential Policies for Some National Reserve Commodity
Reserves(CS[2022]No.8)”, confirm that the fund account book of SZCG, the Company’s subsidiary, and its direct
depots is exempt from stamp duty, 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, 2022 since January 1, 2022.
2.3. Enterprise income tax
(1) On May 27, 2021, the General Administration of Taxation, Ministry of Finance issued 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%, and the Notice
to be implemented from January 1, 2021 to December 31, 2025. 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%
(2) On December 23, 2021, Shenbao Huacheng, a subsidiary of the Company, obtained the High-tech Enterprise
Certificate (Certificate No.: GR202144205394) jointly issued by the Shenzhen Science and Technology Bureau,
the Shenzhen Finance Bureau, and the Shenzhen Tax Service, State Taxation Administration, which is valid for
three years. According to the relevant preferential policies of the state for high-tech enterprises, the qualified
high-tech enterprises will pay corporate income tax at a reduced income tax rate of 15.00% within three years
from the year of identification. Shenbao Huacheng will enjoy the preferential tax policy from 2021 to 2024.
(3) On November 3, 2021, Wuyuan Ju Fang Yong, a subsidiary of the Company, obtained the High-tech Enterprise
Certificate (Certificate No.: GR202136000731) jointly issued by the Science and Technology Department of
Jiangxi Province, the Finance Department of Jiangxi Province, and the Jiangxi Provincial Tax Service, State
Taxation Administration, which is valid for three years. According to the relevant preferential policies of the state
for high-tech enterprises, qualified high-tech enterprises will pay corporate income tax at a reduced income tax
rate of 15.00% within three years from the year of identification. Wuyuan Ju Fang Yong will enjoy the preferential
tax policy from 2021 to 2024.
(4) On Oct. 12, 2022, Wuhan Jiacheng, a subsidiary of the Company, obtained the High-tech Enterprise Certificate
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深圳市深粮控股股份有限公司 2022 年年度报告全文
(Certificate No.:GR202242000734) jointly issued by the Department of Science and Technology of Hubei
Province, the Hubei Provincial Department of Finance of Hubei Province, and the Hubei Provincial Tax Service,
State Taxation Administration, which is valid for three years. According to the relevant preferential policies of the
state for high-tech enterprises, qualified high-tech enterprises will pay corporate income tax at a reduced income
tax rate of 15.00% within three years from the year of identification. Wuhan Jiacheng enjoys the preferential tax
policy from 2022 to 2025.
(5) According to the Notice of the Ministry of Finance and the State Taxation Administration on the Treatment of
Corporate Income Tax Treatment of Fiscal Funds for Special Purposes (CS[2009]No.87), the governmental
service incomes obtained by SZCG, the Company’s subsidiary, and its subordinate companies by carrying out
government grain reserves business are fiscal funds for special purposes, those that meet the requirements can be
regarded as non-taxable incomes and deducted from the total income when calculating the taxable income.
Expenses arising from the use of the above non-taxable income for expenditure shall not be deducted from the
calculation of taxable income; for assets formed from expenditure, the calculated depreciation and amortization
shall not be deducted from the calculation of taxable income.
(6) 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.
(7) According to the Announcement of the Ministry of Finance and the State Taxation Administration on the
Implementation of Preferential Income Tax Policies for Small and Micro Enterprises and Individual Business
(GG[2021]No.12) and the Announcement of State Taxation Administration on Matters Related to the
Implementation of Preferential Income Tax Policies for the Development of Small and Micro-profit Enterprises
and Individual Business (GG[2021]No. 8), from January 1, 2021 to December 31, 2022, the part of the annual
taxable income of small and low-profit enterprises not exceeding 1 million yuan shall be included in the taxable
income at a reduced rate of 12.50%, and the enterprise income tax shall be paid at a tax rate of 20.00%. According
to the Announcement of the Ministry of Finance and the State Administration of Taxation on the Further
Implementation of Preferential Income Tax Policies for Small and Micro Enterprises (GG[2022]No.13), from
January 1, 2022 to December 31, 2024, the annual taxable income of small and micro profit enterprises exceeds 1
million yuan but does not exceed 3.00 million yuan. Deduct 25.00% as taxable income and pay corporate income
tax at the rate of 20.00%. The company’s subsidiary Hainan Grain and Oil, Shenliang Property and Shenliang
Quality Inspection are small profit enterprises and in line with the preferential tax conditions.
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3. Other
VII. Notes to main items of consolidated financial statements
1. Monetary funds
Unit: RMB/CNY
Item Ending balance Opening balance
Cash on hand 247,140.34 69,686.00
Cash in bank 100,373,190.25 52,837,770.89
Other monetary fund 1,087,109.07 1,196,314.11
Total 101,707,439.66 54,103,771.00
Total amount of funds with restrictions on
1,595,309.92 1,008,301.74
use due to mortgage, pledge, or freezing
Other explanation
2. Tradable financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Financial assets measured by fair value and
with variation reckoned into current 226,830,484.23 46,676,652.91
gains/losses
Including:
Equity investment instrument 1,114,607.52 1,228,132.36
Structured financial products 225,715,876.71 45,448,520.55
Including:
Total 226,830,484.23 46,676,652.91
Other explanation:
3. Derivative financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
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4. Note receivable
(1) By category
Unit: RMB/CNY
Item Ending balance Opening balance
Bank acceptance bill 177,052.00 270,109.00
Total 177,052.00 270,109.00
Unit: RMB/CNY
Ending balance Opening balance
Provision for bad
Book balance Book balance Provision for bad debt
Category debt Book Book
Accrual value Accrual value
Amount Ratio Amount Amount Ratio Amount
ratio ratio
Including:
Including:
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 provisions for bad debts:
□ Applicable Not applicable
(2) Provision for bad debt accrual, collected or reversal in the period
Provision for bad debt accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Category Opening balance Collected or Ending balance
Accrual Written-off Other
reversal
Including major amount of provision for bad debt collected or reversal in the period:
□ Applicable Not applicable
(3) Notes receivable already pledged by the Company at the end of the period
Unit: RMB/CNY
Item Amount pledged at period-end
(4) Notes endorsement or discount and undue on balance sheet date
Unit: RMB/CNY
Item Amount derecognition at period-end Amount not derecognition at period-end
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深圳市深粮控股股份有限公司 2022 年年度报告全文
Bank acceptance bill 861,712.00
Total 861,712.00
(5) Notes transfer to account receivable due for failure implementation by drawer at period-end
Unit: RMB/CNY
Item Amount transfer to account receivable at period-end
Other explanation
(6) Note receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including important note receivable that written-off:
Unit: RMB/CNY
Procedure of Resulted by related
Enterprise Nature Amount written-off Written-off causes
written-off transaction
Explanation on note receivable written-off:
5. Account receivable
(1) By category
Unit: RMB/CNY
Ending balance Opening balance
Provision for bad Provision for bad
Book balance Book balance
Category debt Book debt
Book value
Accrual value Accrual
Amount Ratio Amount Amount Ratio Amount
ratio ratio
Account receivable
with provision for 95,687,4 95,575,7 111,741.0 96,298,24 95,725,03
35.30% 99.88% 28.65% 99.40% 573,203.97
bad debts accrual on 77.94 36.94 0 2.86 8.89
a single basis
Including:
Account receivable
with provision for 175,395, 3,314,32 172,081,2 239,772,8 3,516,949 236,255,89
64.70% 1.89% 71.35% 1.47%
bad debts accrual on 609.66 9.37 80.29 46.96 .98 6.98
portfolio
Including:
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Including:
123,368, 3,314,32 120,054,2 142,291,7 3,516,949 138,774,81
portfolio of sales 45.51% 2.69% 42.34% 2.47%
590.15 9.37 60.78 69.29 .98 9.31
receivable
Object-specific 52,027,0 52,027,01 97,481,07 97,481,077.
19.19% 29.01%
portfolio 19.51 9.51 7.67 67
271,083, 98,890,0 172,193,0 336,071,0 99,241,98 236,829,10
Total 100.00% 100.00%
087.60 66.31 21.29 89.82 8.87 0.95
Provision for bad debt accrual on single basis: 95,575,736.94 yuan.
Unit: RMB/CNY
Ending balance
Name
Book balance Provision for bad debt Accrual ratio Accrual causes
Guangzhou Jinhe Feed Extreme low
10,455,627.54 10,455,627.54 100.00%
Co., Ltd possibility of recovery
Shenzhen Faqun Extreme low
4,582,156.00 4,582,156.00 100.00%
Industry Co., Ltd. possibility of recovery
Extreme low
Li Shaoyu 2,929,128.53 2,929,128.53 100.00%
possibility of recovery
Zhuhai Doumen Huabi Extreme low
2,396,327.14 2,396,327.14 100.00%
Feed Co., Ltd. possibility of recovery
Chongqing Zhongxing
Extreme low
Food Industry Co., 2,354,783.30 2,354,783.30 100.00%
possibility of recovery
Ltd.
Sichuan Zhongxing
Food Industry Co., 1,698,103.22 1,698,103.22 100.00%
Ltd.
Shenzhen Buji
Agricultural Products
Extreme low
Wholesale Center 1,534,512.45 1,534,512.45 100.00%
possibility of recovery
Market Xingmin
Commercial Bank
Extreme low
Cao Shengyun 1,429,745.00 1,429,745.00 100.00%
possibility of recovery
Huaxing Feed Factory,
Extreme low
Shunde District, 1,290,274.22 1,290,274.22 100.00%
possibility of recovery
Foshan City
Extreme low
Shanghai office 1,059,295.90 1,059,295.90 100.00%
possibility of recovery
Shenzhen Dihuan
Investment Extreme low
1,045,356.50 1,045,356.50 100.00%
Development possibility of recovery
Company
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Other single provision Extreme low
64,912,168.14 64,800,427.14 99.83%
possibility of recovery
Total 95,687,477.94 95,575,736.94
Provision for bad debts accrual on portfolio:3,314,329.37 yuan
Unit: RMB/CNY
Ending balance
Name
Book balance Provision for bad debt Accrual ratio
Including: Portfolio of sales
123,368,590.15 3,314,329.37 2.69%
receivable
Object-specific portfolio 52,027,019.51
Total 175,395,609.66 3,314,329.37
Explanation on the basis for determining portfolio:
Provision for bad debts accrual on portfolio:
Unit: RMB/CNY
Ending balance
Name
Book balance Provision for bad debt Accrual ratio
Explanation on the basis for determining portfolio:
If the provision for bad debts of accounts receivable is made in accordance with the general model of expected credit losses, please
refer to the disclosure of other receivables to disclose related information about provisions for bad debt:
□ Applicable Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within one year (including 1-year) 173,818,562.72
1-2 years 1,747,202.64
2-3 years 2,307,020.56
Over 3 years 93,210,301.68
3-4 years 189,384.00
4-5 years 713,578.10
Over 5 years 92,307,339.58
Total 271,083,087.60
(2) Provisions for bad debts accrual, collected or reversal in the period
Provision for bad debt accrual in the period:
Unit: RMB/CNY
Category Opening balance Amount changed in the period Ending balance
114
深圳市深粮控股股份有限公司 2022 年年度报告全文
Collected or
Accrual Written-off Other
reversal
Provision for bad
debts accrual on 95,725,038.89 149,301.95 95,575,736.94
single basis
Provision for bad
debts accrual on 3,516,949.98 -107,813.22 94,807.39 3,314,329.37
portfolio
Total 99,241,988.87 -107,813.22 244,109.34 98,890,066.31
Important amount of provision for bad debts collected or reversal:
□Applicable Not applicable
Unit: RMB/CNY
Enterprise Amount collected or reversal Collection way
(3) Account receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including major account receivable written-off:
Unit: RMB/CNY
Procedure of Resulted by related
Enterprise Nature Amount written-off Written-off causes
written-off transaction (Y/N)
Explanation on account receivable written-off:
(4) Top 5 account receivables at ending balance by arrears party
Unit: RMB/CNY
Enterprise Ending balance of accounts Proportion in total receivables at Bad debt preparation ending
receivable ending balance balance
First 46,147,460.26 17.02%
Second 10,455,627.54 3.86% 10,455,627.54
Third 8,235,912.87 3.04% 51,692.01
Fourth 4,582,156.00 1.69% 4,582,156.00
Fifth 3,918,920.00 1.44% 20,060.36
Total 73,340,076.67 27.05%
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深圳市深粮控股股份有限公司 2022 年年度报告全文
(5) Assets and liabilities formed by account receivable transfer and continuing to be involved
(6) The amount of assets and liabilities formed by transferring other receivables and continuing to be
involved
Other explanation
6. Account receivable financing
Unit: RMB/CNY
Item Ending balance Opening balance
Changes of account receivable financing and change of fair value in the period
□ Applicable Not applicable
If the impairment provision of account receivable financing 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 impairment provision:
□ Applicable Not applicable
Other explanation:
7. Accounts paid in advance
(1) By account age
Unit: RMB/CNY
Ending balance Opening balance
Account age
Amount Ratio Amount Ratio
Within one year 31,986,367.58 98.12% 64,831,898.58 99.00%
1-2 years 302,136.99 0.93% 361,081.54 0.55%
2-3 years 131,447.72 0.40% 175,520.68 0.27%
Over 3 years 179,125.47 0.55% 118,890.08 0.18%
Total 32,599,077.76 65,487,390.88
Explanation on reasons for not timely settling important account paid in advance with age over one year:
(3) Top 5 accounts paid in advance at ending balance by prepayment object
Other explanation:
Prepaid objects Ending balance Proportion in total prepayment balance at
the end of period (%)
First 22,412,160.12 68.75
Second 3,567,146.00 10.94
Third 1,693,030.56 5.19
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深圳市深粮控股股份有限公司 2022 年年度报告全文
Fourth 1,068,577.20 3.28
Fifth 483,400.20 1.48
Total 29,224,314.08 89.64
8. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Other account receivable 42,351,756.38 32,910,189.14
Total 42,351,756.38 32,910,189.14
(1) Interest receivable
1) By category
Unit: RMB/CNY
Item Ending balance Opening balance
2) Significant overdue interest
Unit: RMB/CNY
Whether impairment
Borrower Ending balance Overdue time Overdue causes occurs and its judgment
basis
Other explanation:
3) Accrual of provision for bad debts
□ Applicable Not applicable
(2) Dividend receivable
1) By category
Unit: RMB/CNY
Item (or invested enterprise) Ending balance Opening balance
2) Important dividends receivable with account age over one year
Unit: RMB/CNY
117
深圳市深粮控股股份有限公司 2022 年年度报告全文
Whether impairment
Item (or invested Reasons for not
Ending balance Account age occurs and its judgment
enterprise) collection
basis
3) Accrual of provision for bad debt
□ Applicable Not applicable
Other explanation:
(3) Other account receivable
1) By nature
Unit: RMB/CNY
Nature Ending book balance Opening book balance
Margin and deposit 13,114,954.68 14,170,451.49
Other intercourse funds 132,607,662.86 122,723,170.61
Total 145,722,617.54 136,893,622.10
2) Accrual of provision for bad debts
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Provision for bad debt Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2023 2,845,796.16 101,137,636.80 103,983,432.96
Balance on Jan. 1, 2023
in the period
Current accrual 1,590.28 1,590.28
Other changes 163,532.86 450,629.22 614,162.08
Balance on June 30, 2023 2,683,853.58 100,687,007.58 103,370,861.16
Change in the book balance of loss provision whose amount changed greatly in the period
□ Applicable Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within one year (including 1 year) 22,618,973.61
1-2 years 15,627,452.42
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2-3 years 4,134,695.16
Over 3 years 103,341,496.35
3-4 years 1,819,427.03
4-5 years 1,226,657.34
Over 5 years 100,295,411.98
Total 145,722,617.54
3) Provision for bad debts accrual, collected or reversal in the period
Provision for bad debt accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written off Other
reversal
Provision for bad
101,137,636.8
debts accrual on 450,629.22 100,687,007.58
0
single basis
Provision for bad
debts accrual on 2,845,796.16 1,590.28 163,532.86 2,683,853.58
portfolio
103,983,432.9
Total 1,590.28 614,162.08 103,370,861.16
6
Including major amount with provision for bad debts reverse or collected in the period:
Unit: RMB/CNY
Enterprise Amount reversal or collected Collection way
4) Other account receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including important other account receivable written-off:
Unit: RMB/CNY
Procedure of Resulted by related
Enterprise Nature Amount written-off Written-off causes
written-off transaction (Y/N)
Explanation on other account receivable written-off:
5) Top 5 other receivables at ending balance by arrears party
Unit: RMB/CNY
119
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Ratio in total ending
balance of other Ending balance of bad
Enterprise Nature Ending balance Account age
account debt reserve
receivables
First Other intercourse funds 1-2 year, 2-3 years,
24,608,742.46 16.89% 22,187,644.18
over 5 years
Second Other intercourse funds 8,326,202.63 Over 5 years 5.71% 8,326,202.63
Third Other intercourse funds 8,285,803.57 Over 5 years 5.69% 8,285,803.57
Fourth Other intercourse funds 8,257,311.80 Over 5 years 5.67% 8,257,311.80
Fifth Other intercourse funds 7,381,000.00 Over 5 years 5.07%
Total 56,859,060.46 -- 39.03% 47,056,962.18
6) Other account receivables related to government grants
Unit: RMB/CNY
Time, amount and basis
Enterprise Government grants Ending balance Ending account age
for collection predicted
7) Other accounts receivable derecognized due to the transfer of financial assets
8) The amount of assets and liabilities formed by transferring other receivables and continuing to be
involved
Other explanation:
9. Inventory
Does the Company need to comply with the disclosure requirements of the real estate industry?
No
(1) By category
Unit: RMB/CNY
Ending balance Opening balance
Inventories fall Inventories fall
provision or provision or
Item contract contract
Book balance Book value Book balance Book value
performance costs performance costs
impairment impairment
provision provision
Raw materials 72,639,491.32 12,429,328.37 60,210,162.95 70,633,688.83 13,324,174.78 57,309,514.05
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Goods in process 29,647,826.25 29,647,826.25 25,496,450.76 25,496,450.76
Finished goods 3,588,470,267.96 79,593,849.27 3,508,876,418.69 3,574,759,554.65 80,193,872.72 3,494,565,681.93
Revolving material 11,356,676.28 1,794,283.18 9,562,393.10 9,977,936.24 998,163.23 8,979,773.01
Goods in transit 13,858,809.10 13,858,809.10 11,981,893.90 11,981,893.90
Work in
5,438,363.67 5,290,502.32 147,861.35 5,999,159.19 5,290,502.32 708,656.87
process-outsourced
Total 3,721,411,434.58 99,107,963.14 3,622,303,471.44 3,698,848,683.57 99,806,713.05 3,599,041,970.52
(2) Provision for inventory depreciation or provision for impairment of contract performance costs
Unit: RMB/CNY
Increase in current period Decrease in current period
Item Opening balance Ending balance
Accrual Other Reversal or write-off Other
Raw materials 13,324,174.78 223,943.76 1,118,790.17 12,429,328.37
Finished goods 80,193,872.72 46,859,503.69 47,459,527.14 79,593,849.27
Revolving material 998,163.23 1,569,921.56 773,801.61 1,794,283.18
Work in process-outsourced 5,290,502.32 5,290,502.32
Total 99,806,713.05 48,653,369.01 49,352,118.92 99,107,963.14
(3) Explanation on inventories with capitalization of borrowing costs included at ending balance
(4) Assets unsettled formed by construction contract which has completed at period-end
10. Contract assets
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Total 0.00 0.00
Amount and reasons for the major changes of book value of contract assets in the period:
Unit: RMB/CNY
Item Amount changed Cause of change
If the provision for bad debt of accrual contract 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 provision for bad debt:
□ Applicable Not applicable
Impairment provision of contract assets in the period
Unit: RMB/CNY
121
深圳市深粮控股股份有限公司 2022 年年度报告全文
Item Current accrual Current reversal Charge off/Written-off Causes
Other explanation:
11. Assets held for sale
Unit: RMB/CNY
Ending book Impairment Ending book Estimated Estimated
Item Fair value
balance provision value disposal cost disposal time
Other explanation:
12. Non-current asset due within one year
Unit: RMB/CNY
Item Ending balance Opening balance
Important creditors’ investment/ other creditors’ investment
Unit: RMB/CNY
Ending balance Opening balance
Item Maturity Maturity
Face value Coupon rate Actual rate Face value Coupon rate Actual rate
date date
Other explanation:
13. Other current assets
Unit: RMB/CNY
Item Ending balance Opening balance
Financing product 224,348.62 1,152,463.71
Input tax to be deducted 45,293,194.79 31,248,541.96
Other 198,719.39 196,415.59
Total 45,716,262.80 32,597,421.26
Other explanation:
14. Creditors’ investment
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Important creditors’ investment
Unit: RMB/CNY
122
深圳市深粮控股股份有限公司 2022 年年度报告全文
Ending balance Opening balance
Item Maturity Maturity
Face value Coupon rate Actual rate Face value Coupon rate Actual rate
date date
Accrual of impairment provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Provisions for bad debts Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2023
—— —— —— ——
in the reporting period
Change of book balance of loss provision with amount has major changes in the period
□ Applicable Not applicable
Other explanation:
15. Other creditors’ investment
Unit: RMB/CNY
Loss
impairment
Change of Accumulated accumulated
Opening Accrual Ending
Item fair value in Cost change of recognized in Note
balance interest balance
the period fair value other
comprehensi
ve income
Important other creditors’ investment
Unit: RMB/CNY
Ending balance Opening balance
Other creditor item Maturity Maturity
Face value Coupon rate Actual rate Face value Coupon rate Actual rate
date date
Accrual of impairment provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Provisions for bad debts Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2023
—— —— —— ——
in the reporting period
Change in book balance of loss provision whose amount changed greatly in the period
123
深圳市深粮控股股份有限公司 2022 年年度报告全文
□ Applicable Not applicable
Other explanation:
16. Long-term account receivable
(1) Long-term account receivable
Unit: RMB/CNY
Ending balance Opening balance
Discount rate
Item Provision for Provision for
Book balance Book value Book balance Book value interval
bad debt bad debt
Impairment of provisions for bad debt
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Provision for bad debt Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2023
—— —— —— ——
in reporting period
Change in book balance of loss provision whose amount changed greatly in the period
□ Applicable Not applicable
(2) Long-term account receivable derecognition due to the transfer of financial assets
(3) Assets and liabilities formed by long-term account receivable transfer and continuing to be involved
Other explanation
17. Long-term equity investment
Unit: RMB/CNY
Current changes (+/-)
Openi Endin Ending
Addi Other Oth Cash Accrua
ng Cap Investme O g balance
tiona compreh er dividend l of
balanc ital nt gains t balanc of
The invested entity l ensive equi or profit impair
e red recognize h e impairm
inve income ty announce ment
(book ucti d under e (book ent
stme adjustme chan d to provisi
value) on equity r value) provision
nt nt ge issued on
I. Joint venture
II. Associated enterprise
Shenzhen Duoxi 2,170, -503,444. 1,667,
124
深圳市深粮控股股份有限公司 2022 年年度报告全文
Equity Investment 792.11 08 348.0
3
Fund Management
Co., Ltd.
Zhuhai Hengxing Feed 30,214 30,93
722,895.
,746.2 7,642.
Industrial Co., Ltd. 95
9 24
Shenliang Intelligent
Wulian Equity
Investment Fund 26,883 26,51
-368,790.
,128.8 4,338.
(Shenzhen) 54
2 28
Partnership Enterprise
(Limited)
Shenzhen Shenyuan 11,407 10,85
-556,125.
,867.4 1,741.
Data Tech. Co., Ltd 42
1 99
Shenzhen Shenbao
57,628.5
Liaoyuan Investment
3
Company
Shenzhen Shenbao
2,870,00
(Xinmin) Foods Co.,
0.00
Ltd.
Changzhou Shenbao
Chacang E-business
Co., Ltd.
70,676 69,97
-705,464. 2,927,62
Subtotal ,534.6 1,070.
09 8.53
3 54
70,676 69,97
-705,464. 2,927,62
Total ,534.6 1,070.
09 8.53
3 54
Other explanation
18. Other equity instrument investment
Unit: RMB/CNY
Item Ending balance Opening balance
Itemized the non-tradable equity instrument investment in the period
Unit: RMB/CNY
125
深圳市深粮控股股份有限公司 2022 年年度报告全文
Causes of those
that designated
Retained earnings measured by fair Cause of retained
transfer from value and with its earnings transfer
Dividend income Cumulative
Item Cumulative gains other variation from other
recognized losses
comprehensive reckoned into comprehensive
income other income
comprehensive
income
Other explanation:
19. Other non-current financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Financial assets measured by fair value and
whose changes are included in the current 57,500.00 57,500.00
gains/losses
Total 57,500.00 57,500.00
Other explanation:
20. Investment real estate
(1) Measured by cost
Applicable □Not applicable
Unit: RMB/CNY
Item House and building Land use right Construction in progress Total
I. Original book value
1.Opening balance 583,090,328.15 583,090,328.15
2.Increase in current
period
(1) Outsourcing
(2) Inventory\fixed
assets\construction in
process transfer-in
(3) Increased by
combination
126
深圳市深粮控股股份有限公司 2022 年年度报告全文
3.Decrease in current
period
(1) Disposal
(2) Other transfer-out
4.Ending balance 583,090,328.15 583,090,328.15
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 365,952,866.39 365,952,866.39
2.Increase in current
7,799,781.96 7,799,781.96
period
(1) Accrual or
7,799,781.96 7,799,781.96
amortization
3.Decrease in current
period
(1) Disposal
(2) Other transfer-out
4.Ending balance 373,752,648.35 373,752,648.35
III. Impairment provision
1.Opening balance
2.Increase in current
period
(1) Accrual
3. Decrease in current
period
(1) Disposal
(2) Other transfer-out
4.Ending balance
IV. Book value
1.Ending book value 209,337,679.80 209,337,679.80
127
深圳市深粮控股股份有限公司 2022 年年度报告全文
2. Opening book value 217,137,461.76 217,137,461.76
(2) Measured by fair value
□ Applicable Not applicable
(3) Investment real estate without property certificate completed
Unit: RMB/CNY
Item Book value Reasons
Real estate 4,141,859.91
Other explanation
21. Fixed assets
Unit: RMB/CNY
Item Ending balance Opening balance
Fixed assets 2,095,543,847.68 2,138,124,994.69
Fixed assets liquidation 3,211,544.17 3,211,544.17
Total 2,098,755,391.85 2,141,336,538.86
(1) Fixed assets
Unit: RMB/CNY
Machinery Electronic and other
Item House and buildings Transport equipment Total
equipment equipment
I. Original book
value:
1.Opening balance 1,909,203,923.29 780,980,484.11 20,052,061.27 99,598,395.61 2,809,834,864.28
2.Increase in
4,559,905.44 12,100.00 3,065,318.55 7,637,323.99
current period
(1)Purchase 4,031,696.20 12,100.00 3,029,821.34 7,073,617.54
(2) Construction
in progress 528,209.24 35,497.21 563,706.45
transfer-in
(3) Increased by
combination
3.Decrease in 4,252,080.77 34,495.73 644,578.87 4,931,155.37
128
深圳市深粮控股股份有限公司 2022 年年度报告全文
current period
(1) Disposal or
4,252,080.77 34,495.73 644,578.87 4,931,155.37
scrap
Other
4.Ending balance 1,909,203,923.29 781,288,308.78 20,029,665.54 102,019,135.29 2,812,541,032.90
II. Accumulated
depreciation
1.Opening balance 296,435,188.37 289,770,846.08 16,287,279.16 62,579,197.17 665,072,510.78
2.Increase in
22,240,652.84 19,455,150.59 520,226.59 6,704,167.84 48,920,197.86
current period
(1) Accrual 22,240,652.84 19,455,150.59 520,226.59 6,704,167.84 48,920,197.86
3.Decrease in
2,939,506.68 84,541.04 608,834.51 3,632,882.23
current period
(1) Disposal or
2,939,506.68 84,541.04 608,834.51 3,632,882.23
scrap
4.Ending balance 318,675,841.21 306,286,489.99 16,722,964.71 68,674,530.50 710,359,826.41
III. Impairment
provision
1.Opening balance 6,627,468.94 9,889.87 6,637,358.81
2.Increase in
current period
(1) Accrual
3.Decrease in
current period
(1) Disposal or
scrap
4.Ending balance 6,627,468.94 9,889.87 6,637,358.81
IV. Book value
1.Ending book
1,590,528,082.08 468,374,349.85 3,306,700.83 33,334,714.92 2,095,543,847.68
value
2. Opening book
1,612,768,734.92 484,582,169.09 3,764,782.11 37,009,308.57 2,138,124,994.69
value
129
深圳市深粮控股股份有限公司 2022 年年度报告全文
(2) Temporarily idle fixed assets
Unit: RMB/CNY
Accumulated Impairment
Item Original book value Book value Note
depreciation provision
(3) Fixed assets leased out by operation
Unit: RMB/CNY
Item Ending book value
(4) Fix assets without property certification held
Unit: RMB/CNY
Reasons for without the property
Item Book value
certification
House buildings 684,954,925.04 Still under processing
House buildings 83,726,274.78 Still under processing
House buildings 14,558,098.04 Remaining problem, in progress.
Other explanation
(5) Fixed assets liquidation
Unit: RMB/CNY
Item Ending balance Opening balance
Machinery equipment 3,211,360.41 3,211,360.41
Electronic equipment and others 183.76 183.76
Total 3,211,544.17 3,211,544.17
Other explanation
22. Construction in progress
Unit: RMB/CNY
Item Ending balance Opening balance
Construction in progress 232,409,940.90 186,884,912.13
Total 232,409,940.90 186,884,912.13
(1) Construction in progress
Unit: RMB/CNY
130
深圳市深粮控股股份有限公司 2022 年年度报告全文
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Dongguan grain
storage and wharf 168,400,437.48 168,400,437.48 127,376,376.09 127,376,376.09
matching project
Jiangxia Base Project 31,398,025.76 31,398,025.76 31,317,609.78 31,317,609.78
CDE storage of
Dongguan Food
3,726,180.24 3,726,180.24 4,152,832.01 4,152,832.01
Industrial Park and
wharf mating projects
Shenyuan Data
Technology Smart
Logistics Park 2,777,600.00 2,777,600.00
Management Platform
Project
Deep processing of
Dongguan Industry 513,729.78 513,729.78 513,729.78 513,729.78
and Trading Food
Shenbao Plaza project 3,842,333.64 3,842,333.64 3,842,333.64 3,842,333.64
Small packaging
9,047,251.50 9,047,251.50 8,250,772.32 8,250,772.32
production line
Other 20,227,505.88 903,189.74 19,324,316.14 13,399,181.89 903,189.74 12,495,992.15
Total 237,155,464.28 4,745,523.38 232,409,940.90 191,630,435.51 4,745,523.38 186,884,912.13
(2) Changes of major construction in progress
Unit: RMB/CNY
Includi
ng:
Propor Accum
amoun Interes
Other tion of ulated
Openi Increas Transf t of t
decrea Ending project capital Capital
ng e in er-in Progre capital capital
Item Budget sed in balanc invest ization resour
balanc current fixed ss ization ization
the e ment of ces
e period assets of rate in
Period in interes
interes Period
budget t
t in
Period
Dongg 1,242, 127,37 41,320 168,40 36,685 Financ
296,62 83.99 466,97
uan 000,00 6,376. ,685.7 0,437. ,214.6 3.00% ial
4.36 % 6.42
grain 0.00 09 5 48 8 Institut
131
深圳市深粮控股股份有限公司 2022 年年度报告全文
storag ion
e and Loans
wharf
matchi
ng
project
CDE
storag
e of
Dongg
uan
Financ
Food
1,087, 86,730 ial
Industr 4,152, 204,24 630,89 3,726,
300,00 98.7% ,568.7 Institut
ial 832.01 7.79 9.56 180.24
0.00 4 ion
Park
Loans
and
wharf
mating
project
s
2,329, 131,52 41,524 172,12 123,41
927,52 466,97
Total 300,00 9,208. ,933.5 6,617. 5,783. 3.00% --
3.92 6.42
0.00 10 4 72 42
(3) Provision for impairment of construction in progress
Unit: RMB/CNY
Item Amount accrual in the period Reasons of accrual
Other explanation
(4) Engineering material
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Other explanation:
23. Productive biological asset
(1) Measured at cost
Applicable □Not applicable
132
深圳市深粮控股股份有限公司 2022 年年度报告全文
Unit: RMB/CNY
Item Plant Livestock Forestry Fisheries Total
I. Original book
value
1.Opening balance 416,771.28 416,771.28
2.Increase in
current period
(1)Outsourcing
(2)self-cultivate
3.Decrease in
current period
(1)Disposal
(2)Other
4.Ending balance 416,771.28 416,771.28
II. Accumulated
depreciation
1.Opening balance 48,461.88 48,461.88
2.Increase in
4,846.20 4,846.20
current period
(1)Accrual 4,846.20 4,846.20
3.Decrease in
current period
(1)Disposal
(2)Other
4.Ending balance 48,461.88 48,461.88
III. Impairment
provision
1.Opening balance
2.Increase in
current period
(1)Accrual
133
深圳市深粮控股股份有限公司 2022 年年度报告全文
3.Decrease in
current period
(1)Disposal
(2)Other
4.Ending balance
IV. Book value
1.Ending book
363,463.20 363,463.20
value
2. Opening book
368,309.40 368,309.40
value
(2) Measured at fair value
□ Applicable Not applicable
24. Oil and gas asset
□ Applicable Not applicable
25. Right-of-use asset
Unit: RMB/CNY
Item House building Land use rights Total
I. Original book value
1.Opening balance 116,758,420.82 1,823,669.22 118,582,090.04
2.Increase in current
7,077,287.91 7,077,287.91
period
Purchase 7,077,287.91 7,077,287.91
3.Decrease in current
13,712,093.43 13,712,093.43
period
Disposal 13,712,093.43 13,712,093.43
4.Ending balance 110,123,615.30 1,823,669.22 111,947,284.52
II. Accumulated depreciation
1.Opening balance 39,805,615.38 471,636.38 40,277,251.76
2.Increase in current
10,972,237.24 116,084.28 11,088,321.52
period
134
深圳市深粮控股股份有限公司 2022 年年度报告全文
(1) Accrual 10,972,237.24 116,084.28 11,088,321.52
3.Decrease in current
7,023,267.30 7,023,267.30
period
(1) Disposal 7,023,267.30 7,023,267.30
4.Ending balance 43,754,585.32 587,720.66 44,342,305.98
III. Impairment provision
1.Opening balance
2.Increase in current
period
(1) Accrual
3.Decrease in current
period
(1) Disposal
4.Ending balance
IV. Book value
1.Ending book value 66,369,029.98 1,235,948.56 67,604,978.54
2. Opening book value 76,952,805.44 1,352,032.84 78,304,838.28
Other explanation:
26. Intangible assets
(1) Intangible assets
Unit: RMB/CNY
Non-pat
Tradem Software
Land use ent Forest use Shop use
Item Patent ark usage Other Total
right technolo rights rights
rights rights
gy
I.
Original
book
value
1.Openin 639,497,28 50,960,43 184,073 66,083,85 22,859,10 3,610,487 21,221,42 804,416,66
g balance 2.33 9.11 .32 2.28 4.98 .37 2.64 2.03
135
深圳市深粮控股股份有限公司 2022 年年度报告全文
2.Increase
3,226,257. 3,226,257.1
in current
11 1
period
(1) 3,226,257. 3,226,257.1
Purchase 11 1
(2)Interna
l R&D
(3)
Increased
by
combinati
on
3.Decreas
e in 9,704,520.0 86,000. 9,828,920.0
38,400.00
current 0 00 0
period
(1) 9,704,520.0 86,000. 9,828,920.0
38,400.00
Disposal 0 00 0
4.Ending 629,792,76 50,960,43 98,073. 69,271,70 22,859,10 3,610,487 21,221,42 797,813,99
balance 2.33 9.11 32 9.39 4.98 .37 2.64 9.14
II.
Accumula
ted
depreciati
on
1.Openin 127,819,62 30,706,00 146,185 23,973,88 7,717,446. 1,579,325 11,362,50 203,304,98
g balance 8.23 5.77 .83 9.96 37 .31 3.59 5.06
2.Increase
7,751,455.7 647,855.8 4,291.7 4,769,723. 386,432.9 1,835,088. 15,448,850.
in current 54,002.70
8 2 4 34 0 27 55
period
(1) 7,751,455.7 647,855.8 4,291.7 4,769,723. 386,432.9 1,835,088. 15,448,850.
54,002.70
Accrual 8 2 4 34 0 27 55
3.Decreas
e in 1,326,284.4 60,125. 1,415,209.4
28,800.00
current 0 09 9
period
(1) 1,326,284.4 60,125. 28,800.00 1,415,209.4
136
深圳市深粮控股股份有限公司 2022 年年度报告全文
Disposal 0 09 9
4.Ending 134,244,79 31,353,86 90,352. 28,714,81 8,103,879. 1,633,328 13,197,59 217,338,62
balance 9.61 1.59 48 3.30 27 .01 1.86 6.12
III.
Impairme
nt
provision
1.Openin 5,553,283. 1,130,341. 6,683,625.4
g balance 54 88 2
2.Increase
in current
period
(1)
Accrual
3.Decreas
e in
current
period
(1)
Disposal
4.Ending 5,553,283. 1,130,341. 6,683,625.4
balance 54 88 2
IV. Book
value
1.Ending
495,547,96 14,053,29 7,720.8 39,426,55 14,755,22 1,977,159 8,023,830. 573,791,74
book
2.72 3.98 4 4.21 5.71 .36 78 7.60
value
2.
Opening 511,677,65 14,701,14 37,887. 40,979,62 15,141,65 2,031,162 9,858,919. 594,428,05
book 4.10 9.80 49 0.44 8.61 .06 05 1.55
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
Unit: RMB/CNY
137
深圳市深粮控股股份有限公司 2022 年年度报告全文
Item Book value Reasons for without the property
certification
Land use rights 7,849,990.00 Still in process
Other explanation:
27. Expense on research and development
Unit: RMB/CNY
Increase in current period Decrease in current period
Opening Internal Confirmed as Transfer to Ending
Item
balance development Other intangible current balance
expenditure assets gains/losses
Total
Other explanation
28. Goodwill
(1) Goodwill original book value
Unit: RMB/CNY
Increase in current period Decrease in current period
The invested
Formed by
entity or matters Opening balance Ending balance
business Disposal
forming goodwill
combination
Wuhan Jiacheng
Biotechnology 1,953,790.56 1,953,790.56
Co., Ltd
Yunnan Pu’er Tea
Trading Center 673,940.32 673,940.32
Co., Ltd.
Total 2,627,730.88 2,627,730.88
(2) Goodwill impairment provision
Unit: RMB/CNY
The invested Increase in current period Decrease in current period
entity or matters Opening balance Ending balance
Accrual Disposal
forming goodwill
138
深圳市深粮控股股份有限公司 2022 年年度报告全文
Wuhan Jiacheng
Biotechnology
Co., Ltd
Yunnan Pu’er Tea
Trading Center 673,940.32 673,940.32
Co., Ltd.
Total 673,940.32 673,940.32
Relevant information about the assets group or portfolio goodwill included
In May 2016, Ju Fang Yong Holdings, a sub-subsidiary of the Company, acquired 15.00% equity in Pu’er Tea
Trading Center held by Yunnan Hengfengxiang Investment Co., Ltd. After the completion of the acquisition, the
Company has control over the Pu’er Tea Trading Center. The difference between the combined cost and the fair
value of net identifiable assets on the combination date formed goodwill of 673,940.32 yuan. As of December 31,
2022, the full provision for impairment had been made.
The Company invested in the purchase of 51.00% equity in Wuhan Jiacheng in August 2021. After the completion
of the purchase, the Company has control over Wuhan Jiacheng. The difference between the combined cost and
the fair value of the net identifiable assets on the combination date formed goodwill of 1,953,790.56 yuan.
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
29. Long-term expenses to be apportioned
Unit: RMB/CNY
Increase in current
Item Opening balance Current amortization Other decreased Ending balance
period
Improve expenditure
17,631,951.68 899,886.45 1,597,709.68 16,934,128.45
for fix assets
Decoration fee 10,603,371.12 1,940,124.85 1,951,933.16 10,591,562.81
Improve expenditure
for investment real 244,962.81 0.00 41,796.24 203,166.57
estate
Other 4,595,964.29 1,223,426.25 1,228,900.48 4,590,490.06
Total 33,076,249.90 4,063,437.55 4,820,339.56 32,319,347.89
Other explanation
139
深圳市深粮控股股份有限公司 2022 年年度报告全文
30. Deferred income tax asset /Deferred income tax liabilities
(1) Deferred income tax assets not offset
Unit: RMB/CNY
Ending balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Impairment provision for
61,675,370.48 14,436,509.98 61,591,107.94 14,415,444.33
assets
Unrealized profits in
2,854,626.87 428,194.03 3,044,122.07 456,618.31
internal transactions
Right-of-use asset 3,305,416.87 495,812.53 3,305,416.87 495,812.53
Credit impairment loss 101,320,605.30 24,846,382.48 101,461,154.87 24,872,591.18
Total 169,156,019.52 40,206,899.02 169,401,801.75 40,240,466.35
(2) Deferred income tax liability not offset
Unit: 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
58,191,956.35 13,175,090.14 59,019,394.01 13,381,949.47
combine under different
control
Total 58,191,956.35 13,175,090.14 59,019,394.01 13,381,949.47
(3) Deferred income tax assets and deferred income tax liabilities listed after off-set
Unit: RMB/CNY
Trade-off between the Ending balance of Trade-off between the Opening balance of
deferred income tax deferred income tax deferred income tax deferred income tax
Item
assets and liabilities assets or liabilities after assets and liabilities at assets or liabilities after
off-set period-begin off-set
Deferred income tax
40,206,899.02 40,240,466.35
asset
Deferred income tax
13,175,090.14 13,381,949.47
liabilities
140
深圳市深粮控股股份有限公司 2022 年年度报告全文
(4) Details of uncertain deferred income tax assets
Unit: RMB/CNY
Item Ending balance Opening balance
(5) Deductible losses of un-recognized deferred income tax assets expiring in following years
Unit: RMB/CNY
Year Ending amount Opening amount Note
Other explanation:
31. Other non-current asset
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Prepaid for
122,351.00 122,351.00 122,351.00 122,351.00
equipment
Prepaid for
8,042,996.21 8,042,996.21 8,831,064.90 8,831,064.90
system
Total 8,165,347.21 8,165,347.21 8,953,415.90 8,953,415.90
Other explanation:
32. Short-term loans
(1) By category
Unit: RMB/CNY
Item Ending balance Opening balance
Mortgage loan 12,500,000.00
Guaranteed loan 10,000,000.00 10,015,277.78
Loan in credit 1,700,265,009.74 1,182,195,809.59
Total 1,722,765,009.74 1,192,211,087.37
Explanation on category of short-term loans:
(2) Overdue and unpaid short-term loans
The overdue and unpaid short-term loans was 0.00 yuan at period-end, including follow major amount:
Unit: RMB/CNY
141
深圳市深粮控股股份有限公司 2022 年年度报告全文
Borrower Ending balance Loan rate Overdue time Overdue interest
Other explanation:
33. Tradable financial liability
Unit: RMB/CNY
Item Ending balance Opening balance
Tradable financial liability 288,486.18
Including:
Including:
Total 288,486.18
Other explanation:
34. Derivative financial liability
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
35. Note payable
Unit: RMB/CNY
Category Ending balance Opening balance
Total 0.00 0.00
Notes expiring at year-end not repaid was 0.00 yuan.
36. Account payable
(1) Account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Trade accounts payable 121,772,060.04 193,989,937.97
Account payable for engineering 184,904,322.21 196,037,079.96
Other 3,734,149.89 122,000.20
Total 310,410,532.14 390,149,018.13
142
深圳市深粮控股股份有限公司 2022 年年度报告全文
(2) Major accounts payable with age over one year
Unit: RMB/CNY
Item Ending balance Reasons of outstanding or carry-over
Other explanation:
37. Accounts received in advance
(1) Accounts received in advance
Unit: RMB/CNY
Item Ending balance Opening balance
Other 1,047,894.08 1,355,802.01
Total 1,047,894.08 1,355,802.01
(2) Important account received in advance with account age over one year
Unit: RMB/CNY
Item Ending balance Reasons of outstanding or carry-over
38. Contractual liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Sales price 83,528,485.53 110,177,908.96
Total 83,528,485.53 110,177,908.96
Amount and reasons for important changes in book value in the period
Unit: RMB/CNY
Item Amount changed Reasons of changes
39. Wage payable
(1) Wage payable
Unit: RMB/CNY
Decrease in current
Item Opening balance Increase in current period Ending balance
period
I. Short-term
324,402,647.33 119,277,936.40 235,936,979.40 207,743,604.33
compensation
143
深圳市深粮控股股份有限公司 2022 年年度报告全文
II. After-service
welfare-defined 13,955,184.50 10,419,391.48 6,884,250.09 17,490,325.89
contribution plans
III. Dismissed welfare 876,674.60 53,818.08 169,768.08 760,724.60
Total 339,234,506.43 129,751,145.96 242,990,997.57 225,994,654.82
(2) Short-term compensation
Unit: RMB/CNY
Decrease in current
Item Opening balance Increase in current period Ending balance
period
1. Wage, bonus,
315,645,971.54 101,050,143.68 217,400,240.11 199,295,875.11
allowance and subsidy
2. Employees’ welfare 798,260.16 4,420,819.87 5,107,404.79 111,675.24
3. Social insurance
373,330.56 3,062,745.86 3,095,397.52 340,678.90
charges
Including: medical
330,963.19 2,592,471.16 2,620,838.53 302,595.82
insurance premium
Work injury
insurance 8,429.56 117,375.20 119,316.68 6,488.08
premiums
Maternity
insurance 33,937.81 174,028.80 176,371.61 31,595.00
premiums
Others 178,870.70 178,870.70
4. Housing public reserve 50,807.20 7,170,360.42 7,187,951.01 33,216.61
5. Trade union fee and
7,534,277.87 3,573,866.57 3,145,985.97 7,962,158.47
education fee
Total 324,402,647.33 119,277,936.40 235,936,979.40 207,743,604.33
(3) Defined contribution plans
Unit: RMB/CNY
Decrease in current
Item Opening balance Increase in current period Ending balance
period
1. Basic endowment
350,358.14 6,736,807.36 6,774,359.35 312,806.15
insurance premiums
2. Unemployment
10,256.72 95,094.94 97,922.92 7,428.74
insurance premiums
3. Enterprise annuity 13,594,569.64 3,587,489.18 11,967.82 17,170,091.00
Total 13,955,184.50 10,419,391.48 6,884,250.09 17,490,325.89
Other explanation:
144
深圳市深粮控股股份有限公司 2022 年年度报告全文
40. Taxes payable
Unit: RMB/CNY
Item Ending balance Opening balance
VAT 2,783,121.12 4,549,095.77
Enterprise income tax 14,591,664.28 59,136,130.15
Personal income tax 16,645,246.11 3,246,378.11
Urban maintenance and construction tax 125,690.00 254,333.53
Property tax 5,793,357.40 1,333,445.64
Stamp tax 465,033.16 1,175,093.10
Deed tax 664,227.84 664,227.84
Use tax of land 694,811.34 190,127.68
Educational surtax 83,846.44 185,644.26
Other 112,576.26 4,908.73
Total 41,959,573.95 70,739,384.81
Other explanation:
41. Other account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Dividend payable 2,933,690.04 2,933,690.04
Other account payable 276,914,857.27 296,860,258.44
Total 279,848,547.31 299,793,948.48
(1) Interest payable
Unit: RMB/CNY
Item Ending balance Opening balance
Major overdue interest:
Unit: RMB/CNY
Borrower Overdue amount Overdue causes
Other explanation:
(2) Dividend payable
Unit: RMB/CNY
Item Ending balance Opening balance
145
深圳市深粮控股股份有限公司 2022 年年度报告全文
Common stock dividend 2,933,690.04 2,933,690.04
Total 2,933,690.04 2,933,690.04
Other explanation, including important dividend payable which hasn’t been paid over one year, disclose reasons for not paying.
(3) Other account payable
1) By nature
Unit: RMB/CNY
Item Ending balance Opening balance
Engineering quality retention money and
13,310,715.53 1,360,325.16
fund of tail
Deposit and margin 52,995,465.13 73,717,653.72
Intercourse funds and other 209,382,260.30 212,410,539.40
Accrued expense 1,226,416.31 9,371,740.16
Total 276,914,857.27 296,860,258.44
2) Significant other account payable with over one year age
Unit: RMB/CNY
Item Ending balance Reasons of outstanding or carry-over
Other explanation
Nil
42. Liability held for sale
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
43. Non-current liabilities due within one year
Unit: RMB/CNY
Item Ending balance Opening balance
Lease liabilities due within one year 12,423,019.72 21,770,690.45
Total 12,423,019.72 21,770,690.45
Other explanation:
146
深圳市深粮控股股份有限公司 2022 年年度报告全文
44. Other current liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Payable refund payment 50,000.00 33,600.00
VAT payable 748,459.45 1,078,519.07
Total 798,459.45 1,112,119.07
Change of short-term bonds payable:
Unit: RMB/CNY
Premium
Accrual
and
Face Issuance Bonds Amount Opening Issued in interest Paid in Ending
Bonds discount
value date term issued balance the period by face the period balance
amortizati
value
on
Total -- -- --
Other explanation:
45. Long-term loans
(1) By category
Unit: RMB/CNY
Item Ending balance Opening balance
Explanation on category of long-term loans:
Other explanation, including interest rate range:
46. Bonds payable
(1) Bonds payable
Unit: RMB/CNY
Item Ending balance Opening balance
(2) Changes of bonds payable (not including the other financial instrument of preferred stock and
perpetual capital securities that classify as financial liability)
Unit: RMB/CNY
147
深圳市深粮控股股份有限公司 2022 年年度报告全文
Premium
Accrual
and
Face Issuance Bonds Amount Opening Issued in interest Paid in Ending
Bonds discount
value date term issued balance the period by face the period balance
amortizati
value
on
Total --
(3) Convertible conditions and time for shares transfer for the convertible bonds
(4) Other financial instruments classified as financial liability
Basic information of the outstanding preferred stock and perpetual capital securities at period-end
Changes of outstanding preferred stock and perpetual capital securities at period-end
Unit: RMB/CNY
Outstanding Period-beginning Increase in current period Decrease in current period Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Explanation on the basis for classifying other financial instrument into financial liability
Other explanation
47. Lease liability
Unit: RMB/CNY
Item Ending balance Opening balance
Lease payments 75,524,289.72 88,673,874.53
Unrecognized financing charges -4,933,834.29 -6,466,304.42
Lease liabilities due within one year -12,423,019.72 -21,770,690.45
Total 58,167,435.71 60,436,879.66
Other explanation
48. Long-term account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Special account payable 17,843,224.46 17,620,572.48
Total 17,843,224.46 17,620,572.48
148
深圳市深粮控股股份有限公司 2022 年年度报告全文
(1) By nature
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
(2) Special account payable
Unit: RMB/CNY
Increase in current Decrease in current
Item Opening balance Ending balance Causes
period period
Depreciation fund
16,328,757.48 222,651.98 16,551,409.46
for grain deposits
Shenzhen Hospital
Phase III Housing
Expropriation 1,291,815.00 1,291,815.00
Property Rights
Exchange
Total 17,620,572.48 222,651.98 17,843,224.46
Other explanation:
49. Long-term wage payable
(1) Long-term wage payable
Unit: RMB/CNY
Item Ending balance Opening balance
Total 0.00 0.00
(2) Changes of defined benefit plans
Present value of the defined benefit plans:
Unit: RMB/CNY
Item Current Period Last Period
Scheme assets:
Unit: RMB/CNY
Item Current Period Last Period
Net liability (assets) of the defined benefit plans
Unit: RMB/CNY
Item Current Period Last Period
149
深圳市深粮控股股份有限公司 2022 年年度报告全文
Content of defined benefit plans and relevant risks, impact on future cash flow of the Company as well as times and uncertainty:
Major actuarial assumption and sensitivity analysis:
Other explanation:
50. Accrual liabilities
Unit: 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:
According to the civil judgment made by the Shenzhen Intermediate People’s Court, in the disputes over loan
contract between Changzhou Shenbao Chacang E-business 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 E-business Co., ltd. within the scope of 3.5 million yuan.
51. Deferred income
Unit: RMB/CNY
Increase in current Decrease in current
Item Opening balance Ending balance Causes
period period
Government grant 87,077,137.27 10,684,288.27 2,589,662.46 95,171,763.08
Total 87,077,137.27 10,684,288.27 2,589,662.46 95,171,763.08 --
Item involved with government grants:
Unit: RMB/CNY
Amo
unt
reck
Amount Cost Othe Assets-rel
New grants oned
Opening reckoned in reduction r Ending ated/inco
Liability in the in
balance non-operatio in the chan balance me-
Period othe
n revenue period ges related
r
inco
me
Intelligent
management of 66,6 Assets-rel
66,666.48 66.4
grain depot based ated
8
on mobile internet
Special funds for 477, Assets-rel
intelligent 5,332,083.43 499. 4,854,583.45
ated
upgrading and 98
150
深圳市深粮控股股份有限公司 2022 年年度报告全文
transformation of
grain warehouse
“Grain Safety
Project”
Government 755, Assets-rel
central financial 4,707,783.99 965. 3,951,818.67
ated
funds 32
Special fund for
the development of 175,
2,829,760. Assets-rel
strategic emerging 2,134,056.71 604. 4,788,212.19
00 ated
industries in 52
Shenzhen
Industrialization of 98,2 Assets-rel
2,554,580.
1,298,353.15 22.9 3,754,710.21
instant tea powder 00 ated
4
Subsidies for
industrial
technological
advancement to the 102, Assets-rel
1,893,600.
1,171,203.01 012. 2,962,790.77
enterprise whose 00 ated
24
technology center
is a municipal
R&D center
Grant for key
technology
7,12 Assets-rel
research and 96,031.25 164,955.27 253,864.04
2.48 ated
industrialization of
instant tea powder
Construction of
O2O community
sales service
system for high 10,0 Assets-rel
1,645,328.02 00.0 1,635,328.00
quality grain and ated
2
oil based on B2C
E-commerce
platform
Grain storage
project of
Dongguan 131, Assets-rel
7,193,389.35 128. 7,062,260.79
Shenliang ated
56
Logistics Co., Ltd.
- Storage A
Phase II of grain 28,843,497.44 515, 28,327,847.1 Assets-rel
151
深圳市深粮控股股份有限公司 2022 年年度报告全文
storage project of 650. 8 ated
26
Dongguan
Shenliang
Logistics Co., Ltd.-
Storage B
Grain, oil and food
headquarters and
innovative public
18,000,000.0 Assets-rel
service platform of 18,000,000.00
0 ated
Dongguan
Shenliang
Logistics Co., Ltd.
Construction of
450,000 ton silos
and 60,000 ton 249, Assets-rel
16,338,954.7
16,588,744.44 789.
film silos -CDE 8 ated
66
warehouse, gas
storage bin
Functional red
yeast new
workshop technical
3,241,393. Assets-rel
renovation project 3,241,393.00
00 ated
of Hubei Jiacheng
Biotechnology Co.,
Ltd
Other explanation:
52. Other non-current liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Total 0.00 0.00
Other explanation:
53. Share capital
Unit: RMB/CNY
Increased (decreased) in this year(+/-)
Opening Shares
Ending balance
balance New shares
Bonus shares converted from Other Subtotal
issued
public reserve
152
深圳市深粮控股股份有限公司 2022 年年度报告全文
1,152,535,254. 1,152,535,254.
Total shares
00 00
Other explanation:
54. Other equity instrument
(1) Basic information of the outstanding preferred stock and perpetual capital securities at period-end
(2) Changes of outstanding preferred stock and perpetual capital securities at period-end
Unit: RMB/CNY
Outstanding Period-beginning Increase in current period Decrease in current period Period-end
financial
Quantity Book value Quantity Book value Quantity Book value Quantity Book value
instrument
Explanation on changes in other equity instrument, reasons for changes and relevant accounting treatment basis:
Other explanation:
55. Capital reserve
Unit: RMB/CNY
Decrease in current
Item Opening balance Increase in current period Ending balance
period
Capital premium (Share
1,250,743,274.79 1,250,743,274.79
capital premium)
Other capital reserve 8,896,381.86 8,896,381.86
Total 1,259,639,656.65 1,259,639,656.65
Other instructions, including changes in the current period, reasons for changes:
56. Treasury stock
Unit: RMB/CNY
Decrease in current
Item Opening balance Increase in current period Ending balance
period
Other explanation, including changes and reason for changes:
57. Other comprehensive income
Unit: RMB/CNY
Item Opening Current Period Ending
153
深圳市深粮控股股份有限公司 2022 年年度报告全文
balance Less: written in other Less: written in other balance
Account
comprehensive income in comprehensive income in Less : Attributable to Attributable to
before
previous period and previous period and income parent minority
income tax
carried forward to carried forward to tax company after shareholders
in the
gains/losses in current retained earnings in expense tax after tax
period
period current period
Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial reorganization adjustment for
the arbitraged items:
58. Reasonable reserve
Unit: RMB/CNY
Item Opening balance Increase in current Decrease in current Ending balance
period period
Work safety fee 220,301.70 880,675.98 707,753.17 393,224.51
Total 220,301.70 880,675.98 707,753.17 393,224.51
Other explanation, including changes in current period and reason for changes:
59. Surplus public reserve
Unit: RMB/CNY
Decrease in current
Item Opening balance Increase in current period Ending balance
period
Statutory surplus
439,624,164.67 439,624,164.67
reserves
Total 439,624,164.67 439,624,164.67
Other explanation, including changes in current period and reasons for changes:
60. Retained profit
Unit: RMB/CNY
Item Current period Last period
Retained profit at the end of the previous year
1,910,954,084.79 1,812,541,701.27
before adjustment
Retained profit at the beginning of the year after
1,910,954,084.79 1,812,541,701.27
adjustment
Add: net profit attributable to shareholder of
168,149,768.31 420,594,871.27
parent company
Less: withdrawal of legal surplus reserve 34,048,674.25
Common stock dividends payable 288,133,813.50 288,133,813.50
154
深圳市深粮控股股份有限公司 2022 年年度报告全文
Retained profit at period-end 1,790,970,039.60 1,910,954,084.79
Details about adjusting the retained profits at the beginning of the period:
1) Due to the retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations, the retained
profit at the beginning of the period was affected by 0.00 yuan.
2) Due to changes in accounting policies, the retained profit at the beginning of the period was affected by 0.00 yuan.
3) Due to major accounting error correction, the retained profit at the beginning of the period was affected by 0.00 yuan
4) Due to changes in merge scope caused by the same control, the retained profits at the beginning of the period was affected by 0.00
yuan.
5) Due to other adjustments, the retained profits at the beginning of the period was affected by 0.00 yuan.
61. Operating income and operating cost
Unit: RMB/CNY
Current period Last period
Item
Income Cost Income Cost
Main business 2,831,155,949.83 2,356,767,116.63 4,337,091,078.42 3,774,554,176.15
Other business 840,851.99 671,590.94 953,449.93 1,271,449.66
Total 2,831,996,801.82 2,357,438,707.57 4,338,044,528.35 3,775,825,625.81
Information relating to revenue:
Unit: RMB/CNY
Category Branch 1 Branch 2 Total
Product types
Including:
Classification by
business area
Including:
Market or customer
type
Including:
Contract types
Including:
Classification by time
of goods transfer
155
深圳市深粮控股股份有限公司 2022 年年度报告全文
Including:
Classification by
contract duration
Including:
Classification by sales
channel
Including:
Total
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 begun or have not been completed is 83,528,486.00 yuan, among them, 83,528,486.00 yuan of revenue is expected to be
recognized in one year.
Other explanation
62. Tax and surcharges
Unit: RMB/CNY
Item Current period Last period
Urban maintenance and construction tax 707,839.53 895,956.94
Education surcharges 514,033.21 679,527.61
Resource tax 12,486.15
Property tax 5,465,817.42 5,248,155.88
Use tax of land 1,057,091.18 1,110,186.75
Vehicle and vessel use tax 8,618.40 11,504.16
Stamp duty 1,041,352.09 1,098,343.62
Other 23,851.07 6,810.95
Total 8,831,089.05 9,050,485.91
Other explanation:
63. Sales expenses
Unit: RMB/CNY
Item Current period Last period
156
深圳市深粮控股股份有限公司 2022 年年度报告全文
Labor and social security benefits 46,585,880.47 50,753,585.91
Port terminal fee 6,403,280.39 716,873.62
Warehousing, loading and unloading
4,495,439.50 1,731,511.87
fees
Depreciation and amortization of
7,597,306.09 6,945,867.51
long-term assets
Equivalent loss for low value perishable
-1,471,258.29 1,795,020.01
goods
Utilities and office expenses 4,317,153.38 5,073,994.09
After-sale services 3,981,193.46 5,310,993.88
Rental fee 122,357.08 2,387,092.62
Advertisement charge 151,566.61 444,896.32
Travel expenses 1,272,102.59 489,966.51
Business hospitality expenses 870,284.53 600,487.33
Property insurance premium 315,312.65 412,474.71
Logistics transportation fee 200,017.78 1,016,601.52
Sales commission 231,142.82
Automobile expenses 161,425.43 98,335.07
Other 6,079,182.41 1,322,237.90
Total 81,081,244.08 79,331,081.69
Other explanation:
64. Administration expenses
Unit: RMB/CNY
Item Current period Last period
Labor and social security benefits 68,054,624.17 87,350,621.59
Depreciation and amortization of
21,180,508.17 19,952,461.81
long-term assets
Office expenses 3,240,787.25 5,602,580.56
Intermediary agency fee 2,520,013.55 3,139,405.86
Rental fee 100,321.82 310,642.57
Travel expenses 926,931.47 403,109.35
Communication fee 743,873.40 707,182.05
Business hospitality 441,096.09 413,778.48
Vehicle usage fee 531,242.62 492,876.00
157
深圳市深粮控股股份有限公司 2022 年年度报告全文
Relocation and shutdown costs 412,506.76
Repair cost 211,610.40 183,270.55
Low-value consumables 25,815.93 84,958.94
Other 6,680,190.17 6,578,147.22
Total 104,657,015.04 125,631,541.74
Other explanation:
65. R&D expenses
Unit: RMB/CNY
Item Current period Last period
Labor and social security benefits 5,658,800.71 6,716,359.32
Depreciation cost 1,459,851.71 1,998,043.41
Materials consumption 1,079,631.78 592,590.41
Travel expenses 368,211.91 139,106.57
Maintenance and inspection fee 33,552.42 102,772.23
Office expenses 336,015.10 362,891.74
Intermediary fees 56,115.10 62,832.83
Automobile expenses 199.50
Other 440,566.51 162,381.76
Total 9,432,745.24 10,137,177.77
Other explanation:
66. Financial expenses
Unit: RMB/CNY
Item Current period Last period
Interest expenses 20,495,411.83 27,256,521.87
Less: Interest income 315,939.31 1,233,894.54
Exchange gains or loss 253,349.64 -335,848.25
Other 375,293.18 2,322,849.37
Total 20,808,115.34 28,009,628.45
Other explanation:
67. Other income
Unit: RMB/CNY
158
深圳市深粮控股股份有限公司 2022 年年度报告全文
Sources Current Period Last Period
Government grant related to assets
Government grant related to income
Input tax deduction 1,189,220.31 258,853.31
Handling fees for withholding personal
383,734.35 287,394.38
income tax
Direct reduction of value-added tax 7,091.04
Government grant 4,215,117.48 7,465,486.58
Other 11,418.67
Total 5,788,072.14 8,030,243.98
68. Investment income
Unit: RMB/CNY
Item Current period Last period
Long-term equity investment income
-705,464.09 -535,079.99
measured by equity
Financial products 3,107,648.76 3,573,445.74
Total 2,402,184.67 3,038,365.75
Other explanation:
69. Net exposure hedge gains
Unit: RMB/CNY
Item Current period Last period
Other explanation:
70. Income of fair value changes
Unit: RMB/CNY
Sources Current Period Last Period
Tradable financial assets -113,524.84 221,889.46
Tradable financial liabilities 288,486.18
Total 174,961.34 221,889.46
Other explanation:
159
深圳市深粮控股股份有限公司 2022 年年度报告全文
71. Credit impairment loss
Unit: RMB/CNY
Item Current period Last period
Loss of bad debt of other account
613,567.64 5,099.80
receivable
Loss of bad debt of account receivable 56,679.59 240,756.21
Total 670,247.23 245,856.01
Other explanation:
72. Assets impairment loss
Unit: RMB/CNY
Item Current period Last period
II. Inventory price drop loss and contract
-46,633,952.80 -81,499,450.86
performance cost impairment loss
Total -46,633,952.80 -81,499,450.86
Other explanation:
73. Income from assets disposal
Unit: RMB/CNY
Sources Current Period Last Period
Profit and loss on disposal of non-current
1,587,775.37
assets
74. Non-operating income
Unit: RMB/CNY
Amount included in the current
Item Current period Last period
extraordinary gains/losses
Gains from non-monetary asset
84,111.74
exchange
Other 147,404.53 358,293.46 147,404.53
Liquidated damages
191,240.00 690,612.11 191,240.00
compensation income
Total 338,644.53 1,133,017.31 338,644.53
Government grants reckoned into current gains/losses:
Unit: RMB/CNY
160
深圳市深粮控股股份有限公司 2022 年年度报告全文
Whether the
impact of Whether Assets
Issuing Amount of Amount of
Grants Issuing cause Property type subsidies on special related/Incom
subject this period last period
the current subsidies e related
gains/losses
Other explanation:
75. Non-operating expenditure
Unit: RMB/CNY
Amount included in the current
Item Current period Last period
non-recurring profit and loss
External donations 39,545.29
Loss of scrap from non-current
40,437.67 6,686.73 40,437.67
assets
Other 154,778.82 20,901.95 154,778.82
Total 195,216.49 67,133.97 195,216.49
Other explanation:
76. Income tax expense
(1) Income tax expense
Unit: RMB/CNY
Item Current period Last period
Current income tax expenses 12,023,380.41 3,110,846.12
Deferred income tax expenses -139,471.71 -152,179.71
Other 34,334,038.75
Total 46,217,947.45 2,958,666.41
(2) Adjustment process of accounting profit and income tax expenses
Unit: RMB/CNY
Item Current Period
Total profit 213,880,601.49
Income tax expenses calculated by statutory/applicable tax rate 53,470,150.37
Impact from different tax rate applicable with subsidiaries -222,880.68
Effect of adjusting income tax in the previous period 34,334,038.75
Impact of non taxable income -92,226,659.00
Impact of cost, expenses and losses unable to be deducted 19,824,452.61
Impact of the use of a previously unrecognized deferred -1,133,405.49
161
深圳市深粮控股股份有限公司 2022 年年度报告全文
income tax asset on deductible losses
Impact of unrecognized deferred income tax assets in current
period on deductible temporary differences or deductible 32,172,250.89
losses
Income tax expenses 46,217,947.45
Other explanation
77. Other comprehensive income
For more details, refer to notes.
78. Items of cash flow statement
(1) Cash received with other operating activities concerned
Unit: RMB/CNY
Item Current period Last period
Intercourse funds and deposit 333,482,963.88 966,296,334.99
Government grants 1,828,301.20 1,500,994.56
Interest income 315,939.31 1,233,894.54
Total 335,627,204.39 969,031,224.09
Note of cash paid with other operating activities concerned:
(2) Cash paid with other operating activities concerned
Unit: RMB/CNY
Item Current period Last period
Intercourse funds and deposit 403,829,430.09 983,321,525.67
Operating daily expenses 37,196,560.20 38,737,048.77
Other 2,062,442.54 7,805,198.84
Total 443,088,432.83 1,029,863,773.28
Note of cash paid with other operating activities concerned:
(3) Cash received with other investment activities concerned
Unit: RMB/CNY
Item Current period Last period
Other 154.49
Total 154.49
162
深圳市深粮控股股份有限公司 2022 年年度报告全文
Note of cash received with other investment activities concerned:
(4) Cash paid related with investment activities
Unit: RMB/CNY
Item Current period Last period
Other 3,784,107.76 928.80
Total 3,784,107.76 928.80
Note of cash paid related with investment activities:
(5) Cash received with other financing activities concerned
Unit: RMB/CNY
Item Current period Last period
Note of cash received with other financing activities concerned:
(6) Other cash paid related with financing activities
Unit: RMB/CNY
Item Current period Last period
Operating lease rent paid 9,650,074.57 9,528,424.77
Total 9,650,074.57 9,528,424.77
Note of other cash paid related with financing activities:
79. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
Unit: RMB/CNY
Supplementary information Current period Last period
1. Net profit adjusted to cash flow of
-- --
operation activities:
Net profit 167,662,654.04 238,203,108.25
Add: Impairment provision for assets 45,963,705.57 81,253,594.85
Depreciation of fixed assets,
consumption of oil assets and depreciation of 56,724,826.02 54,905,296.21
productive biology assets
Depreciation of right-of-use assets 11,088,321.52 10,700,326.09
Amortization of intangible assets 15,448,850.55 14,629,292.57
163
深圳市深粮控股股份有限公司 2022 年年度报告全文
Amortization of long-term pending
4,063,437.55 3,966,556.35
expenses
Loss from disposal of fixed assets,
intangible assets and other long-term assets -1,587,775.37 -570.00
(income is listed with “-”)
Losses on scrapping of fixed assets
6,686.73
(income is listed with “-“)
Loss from change of fair value
113,524.84 -221,889.46
(income is listed with “-“)
Financial expenses (income is
19,324,823.46 26,920,673.62
listed with “-”)
Investment loss (income is listed
-3,107,648.76 -3,038,365.75
with “-”)
Decrease of deferred income tax
33,567.33 -68,306.74
assets (increase is listed with “-”)
Increase of deferred income tax
-206,859.33 -206,858.71
asset( (increase is listed with “-”)
Decrease of inventory (increase is
-22,562,750.54 -233,168,543.50
listed with “-”)
Decrease of operating receivable
56,159,006.78 99,277,098.55
accounts (increase is listed with “-”)
Increase of operating payable
-265,614,331.45 -32,784,596.20
accounts (decrease is listed with “-”)
Other
Net cash flow arising from
83,503,352.21 260,373,502.86
operating activities
2. Material investment and financing not
involved in cash flow
Conversion of debt into capital
Convertible company bonds due within
one year
Financing lease of fixed assets
3. Net change of cash and cash equivalents:
Ending balance of cash 100,112,129.74 71,460,681.82
Less: beginning balance of cash 53,095,469.26 49,370,080.20
Add: ending balance of cash
equivalents
Less: beginning balance of cash
164
深圳市深粮控股股份有限公司 2022 年年度报告全文
equivalents
Net increasing of cash and cash
47,016,660.48 22,090,601.62
equivalents
(2) Net cash paid for obtaining subsidiary in the Period
Unit: RMB/CNY
Amount
Including:
Including
Including:
Other explanation:
(3) Net cash received by disposing subsidiary in the Period
Unit: RMB/CNY
Amount
Including:
Including:
Including:
Other explanation:
(4) Component of cash and cash equivalent
Unit: RMB/CNY
Item Ending balance Opening balance
I. Cash 100,112,129.74 53,095,469.26
Including: Cash on hand 247,140.34 69,686.00
Bank deposit available for
98,784,730.91 52,829,469.15
payment at any time
Other monetary fund available for
1,080,258.49 196,314.11
payment at any time
III. Ending balance of cash and cash
100,112,129.74 53,095,469.26
equivalent
Other explanation:
80. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” items that have been adjusted to the ending balance of the previous year.
165
深圳市深粮控股股份有限公司 2022 年年度报告全文
81. Assets with ownership or use right restricted
Unit: RMB/CNY
Item Ending book value Reasons for restriction
Money funds 1,595,309.92 Guarantee deposit and credit deposit, etc.
Total 1,595,309.92 --
Other explanation:
82. Foreign currency monetary items
(1) Foreign currency monetary items
Unit: RMB/CNY
Ending foreign currency Ending RMB balance
Item Convert rate
balance converted
Monetary fund 830,939.40
Including: USD 114,402.58 7.2258 826,650.16
EURO 30.39 7.8771 239.39
HKD 4,392.46 0.9220 4,049.85
Account receivable 828,688.88
Including: USD 98,025.87 7.2258 708,315.33
EURO
HKD 130,557.00 0.9220 120,373.55
Long-term loans
Including: USD
EURO
HKD
Other explanation:
(2) Explanation on foreign operational entity, including as for the major foreign operational entity,
disclosed main operation place, book-keeping currency and basis for selection; if the book-keeping
currency is changed, explain reasons
□ Applicable Not applicable
166
深圳市深粮控股股份有限公司 2022 年年度报告全文
83. Hedging
Disclose hedging items and relevant hedging instrument, qualitative and quantitative information for the arbitrage risks on the basis
of hedging category:
84. Government grant
(1) Government grant
Unit: RMB/CNY
Category Amount Item Amount reckoned into current gains/losses
Government subsidies related to assets 95,171,763.08 Deferred income 2,589,662.46
Government subsidies related to income 1,625,455.02 Other income 1,625,455.02
(2) Return of government grant
□ Applicable Not applicable
Other explanation:
85. Other
VIII. Changes in consolidation range
1. Enterprise merger not under the same control
(1) Enterprise merger not under the same control
Unit: RMB/CNY
Income of Net profit
Standard to
Acquired acquiree of acquiree
Time point Cost of Ratio of determine
way Equity Purchasing from from
Acquiree for equity equity equity the
obtained date purchasing purchasing
obtained obtained obtained purchasing
way date to date to
date
period-end period-end
Other explanation:
(2) Combination cost and goodwill
Unit: RMB/CNY
Consolidation cost
--Cash
--Fair value of non-cash assets
167
深圳市深粮控股股份有限公司 2022 年年度报告全文
--Fair value of debts issued or assumed
--Fair value of equity securities issued
-- Fair value of contingent consideration
--Fair value of the equity prior to the purchasing date
--Other
Total combination cost
Less: shares of fair value of identifiable net assets acquired
Portion of goodwill/merger cost less than the shares of fair
value of identifiable net assets acquired
Explanation of the method for determining the fair value of merger costs, contingent considerations, and their changes:
Main reasons for the formation of large goodwill
Other explanation:
(3) Identifiable assets and liabilities on purchasing date under the acquiree
Unit: RMB/CNY
Fair value on purchasing date Book value on purchasing date
Assets:
Monetary funds
Account receivable
Inventory
Fixed assets
Intangible assets
Liability:
Loan
Account payable
Deferred tax liabilities
Net assets
Less: Minority interests
Net assets acquired
Determination method for fair value of the identifiable assets and liabilities:
Contingent liabilities assumed by the acquiree in a business merger:
Other explanation:
168
深圳市深粮控股股份有限公司 2022 年年度报告全文
(4) Gains or losses arising from re-measured by fair value for the equity held before purchasing date
Is there any transaction that achieves business merger through multiple transactions and obtains control during the reporting period?
□Yes No
(5) On purchasing date or period-end of the combination, combination consideration or fair value of
identifiable assets and liability for the acquiree are unable to confirm rationally
(6) Other explanation
2. Business combination under the same control
(1) Business combination under the same control in the Period
Unit: RMB/CNY
Income of Net profit
the of the
Income of Net profit
combined combined
Equity Basis of Standard to the of the
party from party from
ratio combined determine combined combined
Combinati period-begi period-begi
Acquiree obtained in under the the party party
on date n of n of
combinatio same combinatio during the during the
combinatio combinatio
n control n date comparison comparison
n to the n to the
period period
combinatio combinatio
n date n date
Other explanation:
(2)Combination cost
Unit: RMB/CNY
Consolidation cost
--Cash
-- Book value of non-cash assets
-- Book value of debts issued or assumed
-- Face value of equity securities issued
--Contingent consideration
Explanation on contingent consideration and its changes:
Other explanation:
(3) Book value of the assets and liabilities of the combined party on combination date
Unit: RMB/CNY
169
深圳市深粮控股股份有限公司 2022 年年度报告全文
Consolidation date Ending balance of last period
Assets:
Monetary funds
Account receivable
Inventory
Fixed assets
Intangible assets
Liability:
Loan
Account payable
Net assets
Less: Minority interests
Net assets acquired
Contingent liability of the combined party assumed by the Company during combination:
Other explanation:
3. Reverse purchase
Basic transaction information, basis of counter purchase, whether making up business due to the assets and liability reserved by listed
company and basis, determination of combination cost, amount and calculation on adjusted equity by equity transaction:
4. Disposal of subsidiary
Is there any situation where a single disposal of investment in a subsidiary results in loss of control?
□Yes No
Is there any situation where investments in subsidiaries are disposed by steps through multiple transactions and control is lost in the
current period?
□Yes No
5. Other reasons for changes in consolidation range
Consolidation scope changes caused by other reasons (eg, establish new subsidiaries, liquidate subsidiaries, etc.) and the related
circumstances:
170
深圳市深粮控股股份有限公司 2022 年年度报告全文
6. Other
IX. Equity in other entities
1. Equity in subsidiaries
(1) Membership of enterprise group
Main place of Registration shareholding ratio ratio Acquisition
Subsidiary Business nature
operation place Directly Indirectly way
Combine under
Grain & oil
SZCG Shenzhen City Shenzhen City 100.00% the same
trading
control
Combine under
Hualian Grain Grain & oil
Shenzhen City Shenzhen City 100.00% the same
& Oil trading
control
Combine under
Flour
Shenzhen Flour Shenzhen City Shenzhen City 100.00% the same
processing
control
Shenliang Combine under
Quality Shenzhen City Shenzhen City Inspection 100.00% the same
Inspection control
Combine under
Hainan Grain Feed
Haikou City Haikou City 100.00% the same
and Oil production
control
Combine under
Doximi Shenzhen City Shenzhen City E-commerce 100.00% the same
control
Sales and
processing of Combine under
Big Kitchen Shenzhen City Shenzhen City grain,oil and 70.00% the same
relevant control
products
Combine under
Yingkou
Yingkou City Yingkou City Storage 100.00% the same
Storage
control
On-line Combine under
Cold Chain
Shenzhen City Shenzhen City operation of 100.00% the same
Logistic
fresh food control
Property Combine under
Shenliang
Shenzhen City Shenzhen City development 100.00% the same
Property
and control
171
深圳市深粮控股股份有限公司 2022 年年度报告全文
management
Port operation, Combine under
International Dongguan Dongguan
food 100.00% the same
Food City City
production control
Combine under
Dongguan Dongguan Dongguan Food
100.00% the same
Grain and Oil City City production
control
Combine under
Dongguan Dongguan Dongguan Storage,
49.00% 51.00% the same
Logistics City City logistics
control
Construction of
food base and
Combine under
Shuangyashan Shuangyashan development of
Shuangyashan 51.00% the same
City City related
control
complementary
facilities
Shenliang
Shenzhen City Shenzhen City Catering 51.00% Establishment
Hongjun
Dongguan Dongguan Dongguan Grain and oil
100.00% Establishment
Hualian City City trade
Shenliang
Property
Property Shenzhen City Shenzhen City 100.00% Establishment
management
Management
Shenbao
Shenzhen City Shenzhen City Manufacturing 100.00% Establishment
Huacheng
Wuyuan Ju
Shangrao City Shangrao City Manufacturing 100.00% Establishment
Fang Yong
Huizhou
Huizhou City Huizhou City Comprehensive 100.00% Establishment
Shenbao
Shenbao Investment
Shenzhen City Shenzhen City 100.00% Establishment
Investment management
Shenbao Tea Commercial
Shenzhen City Shenzhen City 100.00% Establishment
Culture trade
Shenliang Gain and oil
Shenzhen City Shenzhen City 100.00% Establishment
Hongli wholesale
Ju Fang Yong
Hangzhou City Hangzhou City Comprehensive 100.00% Establishment
Holding
Fuhaitang Catering
Hangzhou City Hangzhou City 100.00% Establishment
Catering industry
Fuhaitang Hangzhou City Hangzhou City Tea planting, 100.00% Business
172
深圳市深粮控股股份有限公司 2022 年年度报告全文
Ecology production and combination
Technology sales not under the
same control
Shenbao Rock
Wuyishan City Wuyishan City Manufacturing 100.00% Establishment
Tea
Pu’er Tea Wholesale
Pu’er City Pu’er City 100.00% Establishment
Supply Chain business
Pu’er Tea Service
Pu’er City Pu’er City 55.00% Establishment
Trading Center industry
Shenliang Food Huizhou City Shenzhen City Manufacturing 100.00% Establishment
Huizhou Wholesale
Huizhou City Huizhou City 100.00% Establishment
Shenliang Food business
Platform
Zhenpin construction,
Shenzhen City Shenzhen City 51.00% Establishment
Market promotion, and
operation
Shenbao
Wholesale
Industry & Huizhou City Shenzhen City 100.00% Establishment
business
Trade
Combine not
Wuhan Food
Wuhan City Wuhan City 51.00% under the same
Jiacheng production
control
Combine not
Food
Hubei Jiacheng Wuhan City Wuhan City 51.00% under the same
production
control
Combine not
Food
Wuhan Hongqu Wuhan City Wuhan City 51.00% under the same
production
control
Combine not
Macheng Food
Macheng City Macheng City 51.00% under the same
Jingtian production
control
Explanation on shareholding ratio ratio in subsidiary different from ratio of voting right:
Explanation on 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:
Explanation on the basis for control the important structured entities included in the consolidation scope:
Basis for determining whether the company is an agent or consignor:
Other explanation:
(2) Important non-wholly-owned subsidiary
Unit: RMB/CNY
Subsidiary Shareholding ratio Gains/losses Dividend announced to Ending equity of
173
深圳市深粮控股股份有限公司 2022 年年度报告全文
ratio of minority attributable to minority distribute for minority minority shareholders
shareholders shareholders in the shareholders in the
Period Period
Big Kitchen 30.00% 471,241.12 4,501,895.11
Explanation on the situation where the shareholding ratio of minority shareholders is different from the voting right ratio of minority
shareholders:
Other explanation:
(3) Main financial information of the important non-wholly-owned subsidiary
Unit: RMB/CNY
Ending balance Opening balance
Subs
Curre Non Current Non Total Curre Non Current Non Total
idiar Total Total
nt current liabiliti current liabilit nt current liabiliti current liabilit
y assets assets
assets assets es liabilities ies assets assets es liabilities ies
Big 157,34 161,5 145,76 146,51 150,57 154,98 140,79 141,54
4,179,6 746,383. 4,403,4 746,383.
Kitc 1,348. 21,00 8,300.8 4,684. 7,065. 0,508. 8,611.6 4,994.
52.49 23 42.68 23
hen 62 1.11 4 07 52 20 6 89
Unit: RMB/CNY
Current Period Last Period
Total Cash flow Total Cash flow
Subsidiary Operating comprehen from Operating comprehen from
Net profit Net profit
revenue sive operation revenue sive operation
income activity income activity
Big 110,913,21 1,570,803. 1,570,803. 129,580,96 2,482,115. 2,482,115.
326,599.03 -45,524.08
Kitchen 7.22 73 73 5.22 69 69
Other explanation:
(4) Significant restrictions on the use of enterprise group assets and the repayment of debts of the
enterprise group
(5) Financial or other support offered to the structured entities included in consolidated financial
statements
Other explanation:
174
深圳市深粮控股股份有限公司 2022 年年度报告全文
2. Transactions where the share of owner’s equity in a subsidiary changes while the subsidiary is still
controlled
(1) Explanation on changes in owner’s equity shares in subsidiary
(2) Impact of such transaction on equity of minority interests and owners’ equity attributable to parent
company
Unit: RMB/CNY
Purchase cost/disposal consideration
--Cash
--Fair value of non-cash assets
Purchase cost/total disposal consideration
Less: Subsidiary’s share of net assets calculated based on the
proportion of acquired/disposed equity
Difference
Including: Adjust capital reserve
Adjust surplus reserve
Adjust undistributed profit
Other explanation
3. Equity in joint venture and associated enterprise
(1) Important joint venture or associated enterprise
Shareholding ratio Accounting
treatment on
Joint
Main place of Registration investment in
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 Equity
Intelligent Shenzhen Shenzhen investment; 49.02% Equity method
Wulian Equity investment
175
深圳市深粮控股股份有限公司 2022 年年度报告全文
Investment consultant
Fund
(Shenzhen)
Partnership
Enterprise
(Limited)
Description on situation where the shareholding ratio in joint ventures or associated enterprises is different from the ratio of voting
rights:
Description on the basis for holding less than 20% of voting rights but having significant influence, or holding 20% or more of voting
rights but having no significant influence.
(2) Main financial information of important joint venture
Unit: RMB/CNY
Ending balance/Current period Opening balance/Last period
Current assets
Including: cash and
cash equivalent
Non-current assets
Total assets
Current liabilities
Non-current liabilities
Total liabilities
Minority interests
Shareholders’ equity
attributable to parent
company
Share of net assets
calculated by
shareholding ratio
Adjustment items
--Goodwill
--Unrealized profit of
internal trading
-- Other
Book value of equity
investment in joint
venture
Fair value of the equity
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深圳市深粮控股股份有限公司 2022 年年度报告全文
investment in joint
ventures with public
offers concerned
Operating income
Financial expenses
Income tax expenses
Net profit
Net profit of
discontinuing
operation
Other comprehensive
income
Total comprehensive
income
Dividends received
from joint venture in
the year
Other explanation
(3) Main financial information of important associated enterprises
Unit: 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 232,080,984.44 20,354,425.32 156,635,317.42 20,190,370.67
Non-current assets 22,673,463.85 33,904,753.98 22,985,162.27 34,651,129.30
Total assets 254,754,448.29 54,259,179.30 179,620,479.69 54,841,499.97
Current liabilities 148,783,655.07 170,000.00 104,136,525.08
Non-current liabilities 30,308,562.39 353,858.37
Total liabilities 179,092,217.46 170,000.00 104,490,383.45
Minority interests
Equity attributable to
shareholder of parent 75,662,230.83 54,089,179.30 75,130,096.24 54,841,499.97
company
Share of net assets
30,264,892.34 26,514,515.70 30,052,038.50 26,883,303.29
measured by
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深圳市深粮控股股份有限公司 2022 年年度报告全文
shareholding
Adjustment 672,749.90 -177.42 162,707.79 -174.47
--Goodwill
--Unrealized profit of
internal trading
-- Other 672,749.90 -177.42 162,707.79 -174.47
Book value of equity
investment in 30,937,642.24 26,514,338.28 30,214,746.29 26,883,128.82
associated enterprise
Fair value of the equity
investment of
associated enterprise
with public offers
concerned
Operating income 267,239,221.76 348,236,616.85
Net profit 1,868,302.32 -403,077.01 -548,345.35 -574,411.34
Net profit of
discontinuing operation
Other comprehensive
income
Total comprehensive
1,868,302.32 -403,077.01 -548,345.35 -574,411.34
income
Dividends received
from associated
enterprise in the year
Other explanation
(4) Summary of financial information of unimportant joint venture and associated enterprises
Unit: RMB/CNY
Ending balance/Current period Opening balance/Last period
Joint venture:
Amount based on shareholding ratio ratio
Associated enterprise:
Total book value of investment 12,519,090.02 13,578,659.52
Total amount calculated in terms of
shareholding ratio ratio
--Net profit -2,828,725.22 -371,088.05
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深圳市深粮控股股份有限公司 2022 年年度报告全文
--Total comprehensive income -2,828,725.22 -371,088.05
Other explanation
(5) Major limitation on capital transfer ability to the Company from joint venture or associated enterprise
(6) Excess loss occurred in joint venture or associated enterprise
Unit: 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
9,671,616.17 151,812.60 9,823,428.77
E-business Co., ltd.
Shenzhen Shichumingmen
Catering Management Co., 4,815,325.70 4,815,325.70
Ltd.
Other explanation
(7) Unconfirmed commitment related to joint venture investment
(8) Intangible liabilities related to joint venture or associated enterprise investment
4. Major joint operation
Main place of Shareholding ratio/ shares enjoyed
Name Registration place Business nature
operation Directly In-directly
Explanation on situation where shareholding ratio or shares enjoyed in joint operation is different from voting right ratio in joint
operation:
Explanation on the classification basis of joint operation in case the entity of joint operation is the separate entity:
Other explanation
5. Equity in structured entities not included in the scope of consolidated financial statements
Explanation:
6. Other
X. Risks relating to financial instruments
Our business operation makes the Company exposed to various financial risks, such as credit risk, liquidity risk
and market risk (Including exchange rate risk, interest rate risk and other price risk).
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The Company disperses the risk of financial instruments through appropriate diversified investment and business
portfolio, and reduces the risk concentrating on a single industry, specific region or specific counterparty by
formulating corresponding risk management policies.
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.
Credit risks of the Company arises mainly from monetary funds, note receivable, account receivable, other
receivable, debt investments, financial guarantee contracts, the debt instrument investments measured at fair value
and with its variation reckoned in current gain/loss that are not included in the scope of impairment assessment
and derivative financial assets, etc. As of the balance sheet date, the carrying value of the financial assets
represented its maximum exposure to credit risk;
Monetary funds of the Company are mainly the bank deposits in reputable state-owned banks and other larger and
medium-sized listed banks with high credit ratings, and the company believes that it is not exposed to significant
credit risks and will hardly incur significant losses due to the bank defaults.
Furthermore, for bill receivable, 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 June 30, 2023, the account receivable from top five clients accounted for 27.05% 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.
It is the Company’s policy to ensure that sufficient cash is available to meet debt obligations as they fall due.
Liquidity risk is centrally controlled by the Company’s finance department. By monitoring cash balances, readily
realizable marketable securities, and rolling forecasts of cash flows for the next 12 months, the finance department
ensures that the company has sufficient funds to service its debts under all reasonable forecasts. In addition, it
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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.
The financial liabilities of the company are presented as undiscounted contract cash flows at maturity as follows:
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.
3.1 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.
Interest-bearing financial instruments with fixed rates and floating rates expose the Company to fair value interest
rate risk and cash flow interest rate risk, respectively. The Company determines the ratio of fixed interest rate
instruments to floating interest rate instruments according to the market environment, and maintains an
appropriate portfolio of fixed and floating interest rate instruments through regular review and monitoring. When
necessary, the Company will use interest rate swap instruments to hedge interest rate risk.
3.2 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.
The Company continuously monitors the foreign currency transactions and the scale of foreign currency assets
and liabilities to minimize foreign exchange risks. In addition, the company may also sign forward foreign
exchange contracts or currency swap contracts to avoid exchange rate risks. During the current period and the
previous period, the Company did not sign any forward foreign exchange contracts or currency swap contracts.
3.3 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.
Other price risk of the Company arises mainly from investment in various types of equity instruments and is
exposed to the risks of changes in the prices of equity instruments.
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XI. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured by fair value
Unit: RMB/CNY
Ending fair value
Item
First level Second level Third level Total
I. Sustaining measured
-- -- -- --
by fair value
(i) Tradable financial
1,341,657.20 225,488,827.03 226,830,484.23
assets
1. Financial assets
measured at fair value
and whose changes are 1,341,657.20 225,488,827.03 226,830,484.23
included in current
profit or loss
(2)Equity instrument
1,341,657.20 1,341,657.20
investment
(3)Other 225,488,827.03 225,488,827.03
(iii) Investment in other
57,500.00 57,500.00
equity instruments
Total assets sustaining
1,341,657.20 225,546,327.03 226,887,984.23
measured by fair value
II. Non-sustaining
-- -- -- --
measured by fair value
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2.Basis for recognizing the market price of items sustaining and non-persistent measured by fair value on
first level
3.The qualitative and quantitative information for the valuation technique and critical parameter of items
sustaining and non-persistent measured by fair value on second level
4.The qualitative and quantitative information for the valuation technique and critical parameter of items
sustaining and non-persistent measured by fair value on third level
5. For items sustaining measured by fair value on second level, adjustment information between the
opening and closing book value and sensitivity analysis of unobservable parameters
6. For items sustaining measured by fair value, describe the reasons for the conversion and the policy for
determining the timing of the conversion if there is a conversion between levels in the current period
7. Changes in valuation technology during the current period and reasons for such changes
8. The fair value of financial assets and financial liabilities not measured by fair value
9. Other
XII. Related party and related transactions
1. Parent company
Ratio of
Ratio of voting right
Parent company Registration place Business nature Registered capital shareholding on the
on the Company
Company
Investing in
industry,
Shenzhen Food
development,
Materials Group Shenzhen 5,000 million yuan 63.79% 72.02%
operation and
Co., Ltd
management of
the own property
Explanation on parent company of the Company
The ultimate controller of the Company is
Other explanation:
2. Subsidiaries of the Company
For more details of subsidiaries of the Company, please refer to “Note IX-Equity in other entities”.
3. Joint venture and associated enterprise of the Company
For more details of important joint venture and associated enterprise of the Company, please refer to “Note V(17)-Long-term equity
183
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investment”.
Other joint venture and associated enterprise that have related transaction with the Company in the Period or that have balance with
the Company arising from transaction in last period are described as follows:
Joint venture/Associated enterprise Relationship with the enterprise
Other explanation
4. Other related party
Other related party Relationship with the Enterprise
Zhanjiang Changshan (Shenzhen) Ecological Aquaculture Co.,
Wholly-owned subsidiary of parent company
Ltd
Shenzhen Agricultural Products Group Co., Ltd Holding subsidiary of parent company
Shenzhen Higreen International Agricultural Products Logistic
Holding subsidiary of parent company
Management Co., Ltd
Shenzhen Qianhai Nongmai World E-Commerce Co., Ltd Holding subsidiary of parent company
Changsha Mawangdui Agricultural Products Co., Ltd. Holding subsidiary of parent company
Xi’an Moore Agricultural Products Co., Ltd. Holding subsidiary of parent company
Shenzhen Chinese Cabbage Technology Co., Ltd. Holding subsidiary of parent company
Shenzhen Qianhai Agricultural Products Exchange Co., Ltd. Holding subsidiary of parent company
Huizhou Higreen Agricultural Products International Logistics
Holding subsidiary of parent company
Co., Ltd.
Chengdu Agricultural Products Center Wholesale Market Co.,
Holding subsidiary of parent company
Ltd.
Guangxi Higreen Agricultural Products International Logistics
Holding subsidiary of parent company
Co., Ltd.
Shenzhen Zhenchu Supply Chain Co., Ltd. Holding subsidiary of parent company
Shenzhen Medical Materials Co., Ltd. Holding subsidiary of parent company
Shenzhen Shennong Land Co., Ltd. Holding subsidiary of parent company
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
Subsidiaries of the Company’s shareholders, controlled by the
Zhanjiang Haitian Aquatic Feed Co., Ltd
ultimate controlling party
Subsidiaries of the Company’s shareholders, controlled by the
Shenzhen Shennong Kitchen Co., Ltd
ultimate controlling party
Subsidiaries of the Company’s shareholders, controlled by the
Shenzhen Agricultural Products E-commerce Co., Ltd
ultimate controlling party
Shenzhen Higreen Real Estate Co., Ltd Subsidiaries of the Company’s shareholders, controlled by the
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深圳市深粮控股股份有限公司 2022 年年度报告全文
ultimate controlling party
Subsidiaries of the Company’s shareholders, controlled by the
Shenzhen Southern Agricultural Products Logistics Co., Ltd
ultimate controlling party
Subsidiaries of the Company’s shareholders, controlled by the
Shenzhen Agricultural Products Small Loan Co., Ltd
ultimate controlling party
Shenzhen Shenliang Cold Transport Co., Ltd. Holding subsidiaries of the Company’s associated enterprise
Yao Jicheng Minority shareholder of controlling subsidiary
Zhang Tiejun Minority shareholder of controlling subsidiary
Other explanation
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
Unit: RMB/CNY
Related party Related transaction Current Period Approved Whether Last Period
content transaction more than
limit the
transactio
n limit
(Y/N)
Shenzhen Shenliang Cold Warehousing
Transport Co., Ltd. services/Transportati 137,432.79 N 114,204.50
on services
Shenzhen Shennong Procurement of
852,212.56 N
Kitchen Co., Ltd goods
Shenzhen Shenyuan Data Information
Tech. Co., Ltd software 5,091,557.43 N 1,332,904.42
development
Goods sold/labor service providing
Unit: RMB/CNY
Content of related
Related party Current period Last period
transaction content
Shenzhen Duoxi Equity
Grain and oil sales, tea
Investment Fund 9,433.95 18,984.00
sales, cleaning services
Management Co., Ltd.
Huizhou Higreen Agricultural
Products International Grain and oil sales 12,361.06
Logistics Co., Ltd.
Shenzhen Agricultural Grain and oil sales 8,240.71 13,870.00
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Products Small Loan Co., Ltd
Grain and oil sales,
Shenzhen Shenliang Cold
warehousing services and 512,330.45 5,046.48
Transport Co., Ltd.
tea sales
Shenzhen Shennong Kitchen Grain and oil sales, and tea
41,203.54 555,498.00
Co., Ltd sales
Shenzhen Shenyuan Data
Grain and oil sales 22,214.14 20,080.40
Tech. Co., Ltd
Shenzhen Food Materials Grain and oil sales, asset
762,516.56 1,465,053.67
Group Co., Ltd management, tea sales
Shenzhen Zhenchu Supply Grain and oil sales,
971,414.88 11,179,507.33
Chain Co., Ltd. transportation service
Explanation on goods purchasing, labor service providing and receiving
(2) Related trusteeship management/contract & entrust management/outsourcing
Trusteeship management/contract:
Unit: RMB/CNY
Entrusting
Client/Contr Trustee/ass Truste Truste Managed earnings /pricing Managed earnings confirmed in
party/Contract
act-out party ets contract e /start e /ends of the contract earnings the period / contract earnings
or
Related managed/contract:
Entrusted management/outsourcing:
Unit: RMB/CNY
Entrusting
Client/Contra Trustee/ass Truste Truste Managed earnings /pricing Managed earnings confirmed in
party/Contract
ct-out party ets contract e /start e /ends of the contract earnings the period / contract earnings
or
Related management/ outsourcing:
(3) Related lease
The company acts as the lessor:
Unit: RMB/CNY
Lease income recognized in Lease income recognized last
Lessee Assets type
the Period Period
Shenzhen Shenyuan Data
Operating site 261,994.26 275,094.00
Technology Co., ltd.
Shenzhen Duoxi Equity
Investment Fund Office space 133,405.74 135,996.00
Management Co., Ltd.
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The company acts as the lessee:
Unit: RMB/CNY
Variable lease
Simplified rental
payments not Interest expense on
fees for short-term
included in the Rent paid lease liabilities Increased right- of-
leases and low
Assets measurement of assumed use assets
Lessor value asset leases
type lease liabilities (if
(if applicable)
applicable)
Current Last Current Last Current Last Current Last Current Last
period period period period period period period period period period
Zhang Office 42,377. 42,377.
Tiejun space 55 55
Shenzh
en
Higreen
Internat
ional
Agricul
tural
Office 15,771. 15,771.
Product
space 00 00
s
Logisti
c
Manage
ment
Co.,
Ltd
Explanation on related lease
(4) Related guarantee
The Company acts as the guarantor
Unit: RMB/CNY
Whether the guarantee
Secured party Guarantee amount Guarantee start date Guarantee expiry date
has been fulfilled
Changzhou Shenbao
Chacang E-business 3,500,000.00 2011-12-20 N
Co., ltd.
The Company acts as the secured party
Unit: RMB/CNY
Whether the guarantee
Guarantor Guarantee amount Guarantee start date Guarantee expiry date
has been fulfilled
Explanation on related guarantee:
(5) Related party’s borrowed funds
Unit: RMB/CNY
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Related party Borrowing amount Starting date Maturity date Note
Borrowing
Yao Jicheng 1,990,000.00 2021-11-25 2022-11-24
Yao Jicheng 4,010,000.00 2021-12-30 2022-12-29
Lending
(6) Assets transfer and debt reorganization of related party
Unit: RMB/CNY
Related party Content of related transaction Current Period Last Period
(7) Remuneration of key executives
Unit: RMB/CNY
Item Current Period Last Period
(8) Other related transaction
6. Receivable and payable of related party
(1) Receivable item
Unit: RMB/CNY
Ending balance Opening balance
Item Related party Provision for bad Provision for bad
Book balance Book balance
debt debt
Shenzhen
Account
Shenliang Cold 110,620.00 94.34 9,434.00 94.34
receivable
Transport Co., Ltd.
Shenzhen
Account
Shennong Kitchen 50,402.00 431.51 43,151.00 431.51
receivable
Co., Ltd
Shenzhen Food
Account
Materials Group 21,764.00 217.64 21,764.00 217.64
receivable
Co., Ltd
Shenzhen Duoxi
Account Equity Investment
1,123.20 1,123.20
receivable Fund Management
Co., Ltd.
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Huizhou Higreen
Agricultural
Account
Products 41,844.00 302.64 30,264.00 302.64
receivable
International
Logistics Co., Ltd.
Shenzhen Zhenchu
Account
Supply Chain Co., 1,521,749.67 25,026.91 2,502,691.02 25,026.91
receivable
Ltd.
Shenzhen
Other accounts
Shenliang Cold 10,000.00 10,000.00
receivable
Transport Co., Ltd.
Shenzhen Higreen
International
Other accounts Agricultural
50,000.00 50,000.00
receivable Products Logistic
Management Co.,
Ltd
Zhanjiang
Changshan
Other accounts (Shenzhen)
5,520.00 5,520.00 5,520.00 5,520.00
receivable Ecological
Aquaculture Co.,
Ltd
Shenzhen
Other accounts
Shenyuan Data 27,000.00 270.00
receivable
Tech. Co., Ltd
Changzhou
Other accounts Shenbao Chacang
24,608,742.46 22,187,644.18 24,608,742.46 22,187,644.18
receivable E-business Co.,
Ltd.
Shenzhen
Shichumingmen
Other accounts
Catering 1,908,202.67 1,908,202.67 1,908,202.67 1,908,202.67
receivable
Management Co.,
Ltd.
Shenzhen
Other accounts
Investment 415,644.52 415,644.52
receivable
Holdings Co., Ltd.
Shenzhen Food
Other accounts
Materials Group 1,658,857.18 1,104,355.28
receivable
Co., Ltd
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Shenzhen Zhenchu
Other accounts
Supply Chain Co., 1,000,000.00
receivable
Ltd.
Shenzhen Duoxi
Other accounts Equity Investment
4,000.00
receivable Fund Management
Co., Ltd.
Shenzhen
Municipal
People’s
Other accounts Government
52,735.50 30,132.00
receivable State-owned
Assets Supervision
& Administration
Commission
Other accounts
Yao Jicheng 463,085.35 1,702.29 463,085.35 1,702.29
receivable
(2) Payable item
Unit: RMB/CNY
Item Related party Ending book balance Opening book balance
Shenzhen Investment
Dividend payable 2,690,970.14
Management Co., Ltd
Shenzhen Shenyuan Data
Account payable 103,511.67 485,080.53
Tech. Co., Ltd
Shenzhen Shenliang Cold
Account payable 2,033.96
Transport Co., Ltd.
Shenzhen Municipal People’s
Government State-owned
Account payable 19,693,023.35 39,633,221.00
Assets Supervision &
Administration Commission
Shenzhen Shenliang Cold
Other account payable 280,000.00
Transport Co., Ltd.
Shenzhen Food Materials
Other account payable 146,162,941.72 146,162,941.72
Group Co., Ltd
Zhanjiang Changshan
Other account payable (Shenzhen) Ecological 8,060,632.25 8,051,954.17
Aquaculture Co., Ltd
Other account payable Shenzhen Duoxi Equity 41,486.00 453,294.60
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Investment Fund
Management Co., Ltd.
Shenzhen Investment
Other account payable 3,510,297.20 3,510,297.20
Management Co., Ltd
Shenzhen Shenyuan Data
Other account payable 557,300.00 3,564,200.00
Tech. Co., Ltd
Zhanjiang Haitian Aquatic
Other account payable 20,000.00 20,000.00
Feed Co., Ltd
Shenzhen Shennong Kitchen
Other account payable 400,000.00 200,000.00
Co., Ltd
Other account payable Yao Jicheng 10,564,054.93 10,650,837.33
Other account payable Zhang Tiejun 39,459.95
Shenzhen Food Materials
Contract liability 280.00
Group Co., Ltd
Shenzhen Shennong Kitchen
Contract liability 5,022.00
Co., Ltd
Shenzhen Zhenchu Supply
Contract liability 3,760.00
Chain Co., Ltd.
Shenzhen Investment
Contract liability 39,640.00
Holdings Co., Ltd.
Shenzhen Shenliang Cold
Contract liability 2,160.00
Transport Co., Ltd.
Shenzhen Shenyuan Data
Contract liability 2,696.00
Tech. Co., Ltd
Shenzhen Duoxi Equity
Contract liability Investment Fund 1,123.20
Management Co., Ltd.
7. Related party commitment
8. Other
XIII. Share-based payment
1. Overall situation of share-based payment
□ Applicable Not applicable
2. Share-based payment settled by equity
□ Applicable Not applicable
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3. Share-based payment settled by cash
□ Applicable Not applicable
4. Modification and termination of share-based payment
Nil
5. Other
Nil
XIV. Commitment or contingency
1. Important commitments
Important commitments on balance sheet date
The Company has no important commitments that need to disclosed as of June 30, 2023.
2. Contingency
(1) Important contingency on balance sheet date
(1)The sales and purchase contract dispute between Hualian Company and Zhuhai Doumen Huabi Trading
Co., Ltd (hereinafter referred to as “Zhuhai Huabi”)
Hualian Company (plaintiff) brought a suit against Zhuhai Huabi (defendant), and the People’s Court of Shenzhen
Luohu District has made the first instance effective judgment 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 canceled.
As of June 30, 2023 Hualian Company has withdrawn 100.00% of bad debt reserves for the receivables of
2,396,300 yuan from Zhuhai Huabi.
(2) Disputes over import agency contract among SZCG, Hualian Company and Guangzhou Jinhe Feed Co.,
Ltd.(hereinafter referred to as Guangzhou Jinhe), Huang Xianning
In the case of the plaintiff SZCG and Hualian Company versus the defendant Guangzhou Jinhe and Huang
Xianning over the import and export agency contract disputes, the Futian District People’s Court made the
first-instance judgment in 2015: 1. The defendant Guangzhou Jinhe should pay a total of 10,237,400 yuan to
SZCG and Hualian Company within ten(10) days from the effective date of the judgment; 2. If it fails to perform
its pecuniary obligations within the period specified by the judgment, it shall pay double of the interest on the debt
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for the delayed in performance in accordance with Article 253 of the Civil Procedure Law of the People’s
Republic of China; 3. The case acceptance fee of 83,200 yuan shall be born by Guangzhou Jinhe.
As Guangzhou Jinhe dissatisfied with the above-mentioned first-instance judgment, it appealed to the Shenzhen
Intermediate People’s Court. On March 30, 2017, Shenzhen Intermediate People’s Court issued a second-instance
judgment, which rejected the appeal of Guangzhou Jinhe and upheld the original judgment. Subsequently, SZCG
and Hualian Company applied to the Court of first instance for the enforcement.
As of June 30, 2023, the case is currently still being executed, and the other party has not paid any money. SZCG
has made a provision for bad debts at a rate of 100.00% for the receivable payment of 10,455,600 yuan from
Guangzhou Jinhe.
According to the “Letter of Commitment from Shenzhen Fude State Capital Operation Co., Ltd. on the Pending
Litigation of Shenzhen Cereals Group Co., Ltd.”, Shenzhen Fude State Capital Operation Co., Ltd. (now renamed
into Shenzhen Food Materials Group Co., Ltd.) will bear the compensation or losses caused by the lawsuit on its
behalf for any claims, compensation, losses or expenditures caused by the disputes over import agency contract
among SZCG and its holding subsidiaries with Guangzhou Jinhe and Huang Xianning.
(3) Contract disputes between Hualian Company and Foshan Shunde Huaxing Feed Factory (hereinafter
referred to as “Huaxing Feed Factory”)
In August and October 2007, Hualian Company sold products to 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
Company filed a lawsuit with the Shunde District People’s Court of Foshan City on October 29, 2007, requesting
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. The company received 29,400 yuan in Oct.
2020. As of June 30, 2023, Hualian Company had a receivable payment of 1,290,300 yuan from Huaxing Feed
Factory. This amount has been withdrawn bad debt reserves by 100.00%.
(4) Mung bean business disputes between SZCG and Jilin Tongyu County Shengda Company (hereinafter
referred to as “Shengda Company”)
On August 26, 2010, the Shenzhen Futian District People’s Court accepted the case of the plaintiff SZCG versus
the defendant Shengda Company over an entrustment contract dispute. Upon mediation, both parties reached a
mediation agreement voluntarily: 1. It’s confirmed that the defendant Shengda Company still owes the plaintiff
SZCG the repurchase payment of 7.492 million yuan and the repurchase payment interest of 2.8 million yuan
before September 3, 2009. 2. The defendant Shengda Company should pay the first installment of 1 million yuan
to the plaintiff SZCG before October 30, 2010, and should pay 1 million yuan at the end of each month from
November 2010 to March 2011, and should 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 and on schedule, it does not need to
pay the remaining principal of 1 million yuan and the interest of 2.8 million yuan. If any of the above sums are not
paid in full and on schedule, the plaintiff may apply to the court for enforcement of all the claims set out in the
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first item above.
After the mediation agreement came into effect, Shengda Company did not fully fulfill its repayment obligations,
and SZCG has applied for compulsory execution. As of the date of June 30, 2022, the book receivables amounted
to 5,602,500 yuan, the execution of the remaining amounts was highly uncertain, and the Company has fully made
provisions for bad debts of 5,602,500 yuan for this payment.
(5) Sales contract disputes between Hualian Company and Dalian Liangshuntong Supply Chain
Management Co., Ltd. (hereinafter referred to as “Liangshuntong Company”)
1) In the case of the plaintiff Liangshuntong Company versus the defendant Hualian Company over a sales
contract dispute ([2019] Y0304 MChNo.49562), the Futian District People’s Court made a first-instance civil
judgment on July 3, 2020 that: 1. The plaintiff Liangshun Tongtong Company shall pay Hualian Company
595,800 yuan within ten days from the effective date of this judgment; 2. Reject the claims of Liangshuntong
Company; 3. Reject other counterclaims of Hualian Company; 4. The plaintiff Liangshuntong Company shall
prepay the litigation fee of 208,900 yuan, which shall be borne by the plaintiff, and the defendant Hualian
Company shall prepay the counterclaim acceptance fee of 113,000 yuan, of which 1,800 yuan shall be borne by
the plaintiff and 111,200 yuan shall be borne by the defendant. After receiving the judgment, the plaintiff
Liangshuntong refused to accept it and appealed to the Shenzhen Intermediate People’s Court. The Shenzhen
Intermediate People’s Court made a final ruling on October 29, 2021, and the ruling is as follows: rejecting the
appeal and upholding the original judgment. The Futian District People’s Court has accepted the enforcement
application submitted by Hualian Company. Hualian Company applied for execution to the Futian District
People’s Court of Shenzhen in December 2021. In May 2022, the Futian District People’s Court issued the
“Execution Order”( [2021] Y0304ZhNo.37136), ruling that the execution procedure should be terminated due to
the fact that the person being executed currently has no property available for execution; If the applicant for
enforcement discovers that the person subjected to enforcement has property available for enforcement, it may
apply for enforcement again
2) In the case of the plaintiff Hualian Company versus the defendant Liangshuntong Company over a contract
dispute ([2020]Y 0304 MChNo. 2824), the Futian District People’s Court delivered the Civil Judgment of the first
instance on December 31, 2020, ruling that 1. The defendant Liangshuntong Company shall pay Hualian
Company advance fees of 461,900 yuan and capital cost of 4,030,000 yuan within ten days from the effective date
of the judgment; 2. Liangshuntong Company shall pay the capital occupation fee (based on 461,900 yuan, with an
annual interest rate of 10.00%, calculating from December 11, 2019 to the date of paying off the full amount) to
Hualian Company within ten(10) days from the effective date of the judgment; 3. Case acceptance fee of 42,700
yuan shall be borne by the defendant Liangshuntong Company. After receiving the judgment, Liangshuntong
appealed to the Shenzhen Intermediate People’s Court on January 22, 2021. The Shenzhen Intermediate People’s
Court made a final ruling on November 9, 2021, and the ruling is as follows: rejecting the appeal and upholding
the original judgment. Hualian Company applied for execution to the Futian District People’s Court of Shenzhen
in December 2021. In May 2022, the Futian District People’s Court issued the Execution Order( [2021]Y0304
ZhNo.37314), ruling that the execution procedure should be terminated due to the fact that the person being
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executed currently has no property available for execution; If the applicant for enforcement discovers that the
person subjected to enforcement has property available for enforcement, it may apply for enforcement again.
(6) Disputes over construction engineering contract between Heilongjiang Hongxinglong Farms & Land
Reclamation Shenxin Grain Industrial Park Co., Ltd. (hereinafter referred to as “Hongxinglong”) and
Heilongjiang Zhishengda Construction Engineering Co., Ltd. (hereinafter referred to as “Zhishengda
Company”)
In April 2020, Zhishengda Company filed a lawsuit with Hongxinglong People’s Court of Heilongjiang Province
with Hongxinglong as the defendant, requesting: 1. To confirm that the “Letter on Rectification of Completed
Projects and Cancellation of Not Constructed Projects” issued by Hongxinglong on April 7, 2020 does not have
the effect of terminating the contract, the rescission 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 shall be borne by Hongxinglong.
On July 29, 2020, Hongxinglong filed a counterclaim with the first-instance court, requesting the court: 1. To
confirm the validity of the cancellation of the construction contract between Hongxinglong and Zhishengda in
accordance with the law. 2. To rule that 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 Company.
On March 16, 2021, the third-party appraisal agency applied by Zhishengda Company conducted an on-site
survey and on-site appraisal for the engineering quantities. The appraisal agency (Heilongjiang Yage Construction
Engineering Management Consulting Co., Ltd., now renamed into Zhongyun Project Management Co., Ltd.)
appraised the cost of project restoration. On April 29, 2021, Hongxinglong Company applied for a third-party
appraisal agency to conduct on-site inspection. On May 27, 2021, the third-party appraisal agency (Harbin
Gongda Construction Engineering Judicial Appraisal Consulting Co., Ltd.) conducted on-site appraisal of the
engineering quantities. Hongxingda paid an appraisal fee of 20,000 yuan. On July 22, 2021, Zhishengda Company
reapplied to a third-party appraisal agency for on-site appraisal. On October 27, 2021, the appraisal agency,
Zhongyun Project Management Co., Ltd., came to the site for appraisal.
On March 9, 2022, the first-instance trial was held, and the lawyers of both parties conducted cross-examination.
But the third-party appraiser did not appear in court due to the impact of the pandemic, so it was planned to
choose another day for the trial.
On March 31, 2022, Hongxinglong Company submitted an “Application for Change of Litigation Request” to the
court, requesting that the second paragraph of the second clause of the applicant’s counterclaim be changed to
“976,722.63 yuan (incurred repair costs) + 438,143.84 yuan (the continued repair cost identified by Zhongyun
Project Management Co., Ltd.), with a total repair cost of 1,414,866.47 yuan”, requesting the court to judge
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Zhishengda Company shall pay the following to Hongxinglong Company: 1 a total of 763,200.00 yuan as
liquidated damages (including: 1) 253,186.57 yuan as liquidated damages for overdue completion of the project; 2)
a fine of 500,000 yuan as the project manager left the construction site without permission; 3) a penalty of 10,000
yuan for collective petitions by migrant workers; 2. 976,722.63 yuan (incurred repair costs) + 438,143.84 yuan
(continued repair costs identified by Zhongyun Project Management Co., Ltd.) for the repair of substandard
engineering quality, totaling 1,414,866.47 million yuan. The above two items amounted to 2,178,053.04 yuan, and
the counterclaim fee and appraisal fee shall be borne by Zhishengda Company.
On May 19, 2022, Zhishengda Company submitted a “Clear Litigation Request Application”, which stated that the
litigation request was: 1) Hongxinglong shall pay 2,362,100 yuan for the project and inventory materials, and the
interest shall be calculated from June 1, 2020 at four times the loan interest rate published by the National
Interbank Funding Center until the project payment is fully paid. 2) Requesting the People’s Court to rule that
Hongxinglong Company shall pay compensation of Zhishengda Company for losses of 4,234,900 yuan (including
① loss of road interests of 606,900 yuan; ② loss of equipment rent of 1,633,000 yuan; ③ loss of wages of
technical personnel and management personnel of 197,500 yuan; ④ bidding cost of 20,000 yuan). 3)
Hongxionglong Company shall pay a monthly compensation of 79,500 yuan for losses of Zhishengda since June 1,
2022, until the project manager and others involved in the case are released from the record. The aforesaid three
items amounted to 6,676,500 yuan. 4) The case acceptance fee and appraisal fee of 58,000 yuan shall be borne by
Hongxinglong.
(7) Construction project subcontracting dispute case of Xu Anwu versus Dongguan Shenliang Logistics Co.,
Ltd., Gansu Installation and Construction Group Co., Ltd., Guangdong Dianbai Construction Group Co.,
Ltd., and Xu Jianqiang
On March 17, 2021, the plaintiff Xu Anwu sued Dongguan Shenliang Logistics Co., Ltd., Gansu Installation and
Construction Group Co., Ltd., Guangdong Dianbai Construction Group Co., Ltd., and Xu Jianqiang as defendants
to the First People’s Court of Dongguan, requesting: 1. The four defendants to immediately pay the plaintiff the
construction cost of 10.445 million yuan; 2. The four defendants to bear the litigation costs in this case.
On May 19, 2021, Gansu Installation and Construction Group Co., Ltd. filed a counterclaim with Xu Anwu as the
counterclaim defendant, requesting: 1. Xu Anwu to immediately return the overpaid 2,567,000 yuan to Gansu
Installation and Construction Group Co., Ltd.; 2. Xu Anwu to bear all litigation costs.
The first instance of this case was heard on July 14, 2021. On April 22, 2022, the First People’s Court of
Dongguan City, Guangdong Province issued a judgment rejecting all the plaintiff’s litigation claims against
Dongguan Shenliang Logistics Co., Ltd..
Gansu Installation and Construction Group Co., Ltd. appealed to the Intermediate People’s Court of Dongguan
City, Guangdong Province.
On September 22, 2022, the Intermediate People’s Court of Dongguan City, Guangdong Province issued a final
judgment rejecting all the litigation claims of the plaintiff Xu Anwu against Dongguan Shenliang Logistics Co.,
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Ltd..
On March 31, 2023, Xu Anwu applied for a retrial to the Guangdong Provincial Higher People’s Court. Request: 1.
Revoke (2022)Y 19 MZHNo.7365 of the Intermediate People’s Court of Dongguan City, Guangdong Province; 2.
It is ordered that the litigation costs for the first rail, second trail, and retrial of this case shall be borne by the
respondent Gansu Installation and Construction Group Co., Ltd.
(8) Disputes over sales contract between Hangzhou Ju Fang Yong Holdings Co., Ltd. and Hangzhou Ju
Fang Yong Trading Co., Ltd.,
On September 7, 2021, the plaintiff Hangzhou Ju Fang Yong Holdings Co., Ltd. sued Hangzhou Ju Fang Yong
Trading Co., Ltd. as the defendant to the Hangzhou Binjiang District People’s Court, requesting to order: 1. The
defendant to immediately pay 2,816,300.00 yuan; 2. The defendant to bear the litigation costs in this case.
On October 29, 2021, Hangzhou Ju Fang Yong Holdings Co., Ltd. and Hangzhou Ju Fang Yong Trading Co., Ltd.
reached a pre-litigation mediation, and Hangzhou Ju Fang Yong Trading Co., Ltd. paid 2,816,000 yuan to
Hangzhou Ju Fang Yong Holdings Co., Ltd., and paid in full before November 30, 2021.
On December 8, 2021, Hangzhou Binjiang District People’s Court issued a civil ruling paper, ruling that the
mediation agreement reached by Hangzhou Ju Fang Yong Holdings Co., Ltd. and Hangzhou Ju Fang Yong
Trading Co., Ltd. on October 29, 2021 is valid, and the parties shall consciously perform their obligations in
accordance with the provisions of the mediation agreement. If any party refuses to perform or fails to perform all
of its obligations, the other party shall apply to the people’s court for enforcement.
On December 29, 2021, Hangzhou Binjiang District People’s Court accepted the enforcement application of
Hangzhou Ju Fang Yong Holdings Co., Ltd.
On March 4, 2022, Hangzhou Ju Fang Yong Holdings Co., Ltd. submitted an application for “transfer of
enforcement to bankruptcy” to Hangzhou Intermediate People’s Court.
On August 19, 2022, the court ruled to accept the bankruptcy liquidation application of Ju Fang Yong Holdings for
Ju Fang Yong Trading. On September 27, 2022, Ju Fang Yong Trading Co., Ltd. transferred the seal, account
books and other materials to the bankruptcy liquidation administrator. On October 21, 2022, the manager held the
first creditors’ meeting.
(9) Disputes over private lending between Shenzhen Shenshenbao Tea Culture Commercial Management
Co., Ltd. and Shenzhen Shichumingmen Catering Management Co., Ltd.
On May 31, 2021, the plaintiff Shenzhen Shenshenbao Tea Culture Commercial Management Co., Ltd. filed a
lawsuit with Shenzhen Nanshan District People’s Court against Shenzhen Shichumingmen Catering Management
Co., Ltd. as the defendant, requesting to order: 1). The defendant to return the principal of 1,183,000 yuan
borrowed from the plaintiff; 2). The defendant to pay the interest on borrowings of 171,300 yuan to the plaintiff;
3). The defendant to bear the litigation costs in this case.
On December 1, 2021, the court made a judgment in support of all the claims of Shenzhen Shenshenbao Tea
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Culture Company.
On January 20, 2022, the People’s Court of Nanshan District accepted the enforcement application of Shenzhen
Shenshenbao Tea Culture Company.
On April 27, 2022, the People’s Court of Nanshan District made a ruling: to terminate this execution procedure. If
the applicant for enforcement discovers that the person subjected to enforcement has property available for
enforcement, they may apply for resumption of enforcement.
On May 18, 2022, Shenzhen Shenshenbao Tea Culture Company applied to the court for bankruptcy liquidation.
On August 15, 2022, the Shenzhen Intermediate People’s Court made a decision to appoint Guangdong Guanghe
Law Firm as the administrator for bankruptcy liquidation.
On September 9, 2022, Shenzhen Shenshenbao Tea Culture Company declared its creditor’s rights to the
administrator.
On November 8, 2022, the administrator held the first creditors’ meeting.
On December 12, 2022, the Shenzhen Intermediate Court made a ruling declaring Shenzhen Shichumingmen
Catering Management Co., Ltd. bankrupt and ending the bankruptcy proceedings.
On March 6, 2023, the bankruptcy administrator canceled Shenzhen Shichumingmen Catering Management Co.,
Ltd.
(10) Disputes over special operating contract between Shanghai Baoyan Catering Co., Ltd. and Hangzhou
Fuhaitang Catering Management Chain Co., Ltd.
On July 22, 2021, the plaintiff Shanghai Baoyan Catering Co., Ltd. filed a lawsuit with Hangzhou Binjiang
District People’s Court against Hangzhou Fuhaitang Catering Management Chain Co., Ltd. as the defendant,
requesting: 1). To cancel the Regional Agency Authorized Operating Agreement signed by the plaintiff and the
defendant; 2). The defendant to return the regional agency cooperation fee of 1,880,000 yuan and the cooperation
deposit of 80,000 yuan to the plaintiff, a total of 1,960,000 yuan; 3). The defendant to pay the liquidated damages
of 100,000 yuan to the plaintiff; 4. The defendant to pay the attorney fee of 50,000 yuan to the plaintiff; 5). The
defendant to bear the litigation fee in this case. The Hangzhou Binjiang District People’s Court issued a subpoena
on February 11, 2022, confirming that the case number was (2021) Zh 0108 MCh No. 5890, and the court date set
for March 17, 2022.
On May 18, 2022, Hangzhou Binjiang District Court made a judgment of first instance that Hangzhou Fuhaitang
Catering Management Chain Co., Ltd. shall returned the agency cooperation price of 880,000 yuan to Shanghai
Baoyan Catering Co., Ltd. and bear the legal cost of 12,600 yuan; Shanghai Baoyan shall bear the legal costs of
13,100 yuan. Both Fuhaitang Catering and Shanghai Baoyan refused to obey and appealed to Hangzhou
Intermediate People’s Court.
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On September 6, 2022, Hangzhou Intermediate People’s Court held a trial on this case.
On November 17, 2022, the court made a judgment: Fuhaitang Catering shall return agency cooperation and
deposit of 960,000 yuan to Shanghai Baoyan.
Shanghai Baoyan applied to Hangzhou Binjiang District Court for enforcement. On February 16, 2023, Hangzhou
Binjiang District Court notified Fuhaitang Catering to declare its property, and Fuhaitang Catering had declared its
property as required by the court. Hangzhou Fuhaitang Catering Company was in severe insolvency and filed for
bankruptcy in the name of the debtor on June 13, 2023.
(11) Sales contract disputes between Shuangyashan Shenliang Grain Base Co., Ltd. (hereinafter referred to
as “Shuangyashan Company”) and Tongliao Fada Grain Purchase and Storage Co., Ltd.
On November 26, 2021, the plaintiff Tongliao Fada Grain Purchase and Storage Co., Ltd. filed a lawsuit with
Keerqin District People’s Court of Tongliao City, Inner Mongolia Autonomous Region, with Shuangyashan
Company as the defendant, requesting: 1. To cancel the six purchase contracts signed with Shuangyashan
Company; 2. Shuangyashan Company to return the corn purchase payment of 25.2 million yuan; 3. Shuangyashan
Company to pay the interest on occupation of funds of 4,713,600 yuan (tentatively until November 1, 2021); 4.
Shuangyashan Company to bear the litigation costs of this case.
Shuangyashan Company filed an objection to jurisdiction with Keerqin District People’s Court of Tongliao City,
Inner Mongolia Autonomous Region. On March 24, 2022, Keerqin District People’s Court of Tongliao City, Inner
Mongolia Autonomous Region made a ruling that Shuangyashan Company’s objection to jurisdiction was
established, and the case was transferred to the People’s Court of Baoqing County, Shuangyashan City,
Heilongjiang Province. On April 1, 2022, Tongliao Fada Grain Purchase and Storage Co., Ltd. filed an appeal with
Tongliao Intermediate People’s Court, requesting to revoke the ruling on the objection to jurisdiction. This case
was heard in court on February 20, 2023. As of the approval date of the financial report, the court has not yet
made a ruling. On May 10, 2023, a subpoena was received from the People’s Court of Baoqing County, and
Tongliao Fada Grain Purchase and Storage Co., Ltd. added Shanghai Jiexi Industrial Co., Ltd. as the third party.
The trial was held on May 19, 2023. On August 3, 2023, the People’s Court of Baoqing County ruled to dismiss
the lawsuit request of Inner Mongolia Cold Land Black Soil Supply Chain Management Co., Ltd. (formerly
known as Tongliao Fada Grain Purchase and Storage Co., Ltd.). The litigation costs of this case, 191,368 yuan,
shall be borne by Inner Mongolia Cold Land Black Soil Supply Chain Management Co., Ltd.
(12) Project construction contract disputes between Wuhan Jiangxia Yijian Construction Engineering Co.,
Ltd. and Wuhan Jiacheng Biological Products Co., Ltd.
1) On January 10, 2022, the plaintiff Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. filed a lawsuit
with Jiangxia District People’s Court of Wuhan City against Wuhan Jiacheng Biological Products Co., Ltd. as the
defendant, requesting: ①The defendant to immediately pay the project money of 4,421,900 yuan owed to the
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plaintiff; ② The defendant to pay liquidated damages (based on the arrears of the project payment of 4,421,900
yuan), and calculated at an annual interest rate of 15.4% from October 10, 2019 to the date of payment, and
temporarily calculated to be 1,514,900 yuan until December 30, 2021) for the delayed payment of the project
payment to the plaintiff. The above two items add up to 5,936,800 yuan. ③The defendant to bear all expenses of
the case, including litigation fee, appraisal fee, and preservation fee.
The plaintiff applied for property preservation (the preservation amount was more than 5.9 million yuan), and the
Jiangxia District Court ruled to freeze all bank accounts of Wuhan Jiacheng Biological Products Co., Ltd.
The Jiangxia District People’s Court of Wuhan City set the court date as February 28, 2022, and the case number
is (2022) E 0115 MCHNo. 182.
2) On February 25, 2022, the counterclaim plaintiff Wuhan Jiacheng Biological Products Co., Ltd. filed a
counterclaim against Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. as the counterclaim defendant,
requesting: ①To confirm that the Hubei Province Construction Project Contract, with the project cost of
25,965,100 yuan, signed by the plaintiff and the defendant on July 4, 2017 for Jiacheng Bio-Industrial Park
Construction Project (Phase I) is invalid; ②To order the defendant of the counterclaim to submit the complete
completion data and completion report to the plaintiff of the counterclaim and assist in handling the completion
acceptance of the project and the relevant procedures for archiving and filing the engineering data in the urban
construction archives; ③To compensate for the losses (from April 1, 2018 to October 25, 2019, calculated at
1,000 yuan per day; from October 26, 2019 to the date of acceptance and delivery of project, with 21,543,200
yuan as the base, calculated according to the quoted interest rate of the loan market for the same period announced
by the National Interbank Funding Center, and it’s about 2.3 million yuan calculated to the date of indictment)
caused to the plaintiff due to the delayed delivery of the Wuhan Jiacheng Bio-Industrial Park Construction Project
(Phase I); 4. To bear the litigation fees, preservation fees and other expenses for the counterclaim.
On July 6, 2022, Wuhan Jiangxia District People’s Court made a judgment:
(1) The defendant Wuhan Jiacheng Biological Products Co., Ltd. shall pay 4,421,900 yuan to the plaintiff Wuhan
Jiangxia Yijian Construction Engineering Co., Ltd. within ten days after the judgment takes effect;
(2) The defendant Wuhan Jiacheng shall pay the liquidated damages to the plaintiff Wuhan Jiangxia Yijian
Construction Engineering Co., Ltd. (based on 4,421,900 yuan, according to 1.3 times of LPR, from
September 19, 2020 to the fulfillment of performance) within 10 days after the judgment takes effect;
(3) The plaintiff Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. shall have the priority to receive
compensation for the discount or auction price of the above projects undertaken by it within the scope of
Items 1 and 2 of the aforesaid judgment;
(4) Counterclaim defendant Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. shall submit complete
completion materials and completion report to the counterclaim plaintiff Wuhan Jiacheng within 10 days
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after the judgment takes effect, and assist in handling relevant filing procedures of project completion
acceptance and engineering materials in the urban construction archives;
(5) Reject other claims of plaintiff Wuhan Jiangxia Yijian Construction Engineering Co., Ltd.;
(6) Reject other claims of counterclaim plaintiff Wuhan Jiacheng.
If the payment obligation is not performed within the period specified in the judgment, the interest on the debt
during the delay in performance shall be double paid in accordance with Article 260 of the Civil Procedure Law of
the People’s Republic of China.
The case acceptance fee is 53,400 yuan, the counterclaim acceptance fee is 12,600 yuan, and the preservation fee
is 5,000 yuan, totaling 71,000 yuan. The plaintiff Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. shall
bear 2,000 yuan, and the defendant Wuhan Jiacheng shall bear 69,000 yuan.
On July 16, 2022, Wuhan Jiacheng appealed to Wuhan Intermediate People’s Court. The case was heard on
January 12, 2023.
On January 18, 2023, Hubei Wuhan Intermediate People’s Court made a judgment to reject the appeal and uphold
the original judgment. Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. has applied for enforcement.
On February 21, 2023, the People’s Court of Jiangxia District, Wuhan City, Hubei Province made a judgment to
freeze or withhold the bank deposits of 6.00 million yuan of Wuhan Jiacheng subject to enforcement, or to seal up,
seize, freeze, auction and sell other assets of the same amount. The judgment shall be enforced immediately.
On February 21, 2023, the court issued a property report order to Wuhan Jiacheng. Wuhan Jiacheng has paid 4.42
million yuan to the execution account of the People’s Court of Jiangxia District, Wuhan City, Hubei Province, and
the Wuhan Jiacheng account has been unfrozen. Wuhan Jiacheng has submitted an application for objection to
execution to the People’s Court of Jiangxia District, Wuhan City, Hubei Province.
On March 8, 2023, Wuhan Jiacheng applied for compulsory execution of the fourth item in the judgment of the
People’s Court of Jiangxia District, Wuhan City. The People’s Court of Jiangxia District filed the case for
acceptance([2023]E0115ZhNo.1719) on March 16, 2023. Application for enforcement matters is as follows:
1. Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. shall submit complete completion documents and
completion reports to the applicant, and assist in handling the relevant procedures for project completion
acceptance and engineering data archiving and filing in the urban construction archives;
2. Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. shall compensate Wuhan Jiacheng twice for the
losses caused (loss calculation method: based on the total construction area, the rent shall be calculated at
20.00 yuan per square meter per month, from the date when the party subjected to enforcement should fulfill
their obligations to the actual date of performance; the daily single loss is 10,396.00 yuan (15,594 square
meters) × 20.00 yuan ÷ 30 days);
3. As the effective judgment determines that both Wuhan Jiacheng and Wuhan Jiangxia Yijian Construction
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Engineering Co., Ltd. should fulfill their obligations simultaneously, and the period for fulfilling the
obligations has already expired, in accordance with the principles of good faith and fairness, Wuhan Jiacheng
shall pay the project funds and liquidated damages that should be paid to Wuhan Jiangxia Yijian Construction
Engineering Co., Ltd. to the court’s account. In case Wuhan Jiangxia Yijian Construction Engineering Co.,
Ltd. fails to fully fulfill the fourth obligation of the effective judgment, the court shall not distribute the
project funds to the party subject to enforcement so as to ensure that both parties will fulfill their obligations
simultaneously;
4. If Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. delays fulfilling the fourth obligation of the
effective judgment, Wuhan Jiacheng requests the court to entrust a third party to perform on behalf and the
expenses incurred by the third party in performing the obligation and the double compensation to be paid by
Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. for the losses caused to Wuhan Jiacheng shall be
deducted from the project payment paid by the applicant for enforcement;
5. Wuhan Jiangxia Yijian Construction Engineering Co., Ltd. shall bear the enforcement fees for this case.
On March 30, 2023, Wuhan Jiacheng applied for retrial. On April 6, 2023, the Higher People’s Court of Hubei
Province accepted the retrial application.
On June 30, 2023, the Higher People’s Court of Hubei Province made a civil ruling((2023) EMSh No. 2077),
rejecting the retrial application of Wuhan Jiacheng Biological Products Co., Ltd.
(13) Disputes over loan contract between Changzhou Shenbao Chacang E-business (hereinafter referred to
as “Changzhou Company”) and Shenzhen Agricultural Products Financing Guarantee Co., Ltd.
(hereinafter referred to as “Agricultural Products Guarantee Company”)
On July 15, 2016, the Agricultural Products Guarantee Company submitted a Civil Complaint to Shenzhen Futian
District People’s Court, requesting to order: 1). Changzhou Company to repay the loan principal of 5,000,000.00
yuan and the interest of 390,000 yuan, and the penalty interest of 3,200,300 yuan (The penalty interest is
temporarily calculated until June 30, 2016, and actually calculated to the date when the loan is fully paid); 2.
Changzhou Company to pay compensation of 100,000.00 yuan ( 5,000,000 yuan × 2%); totaling 8,690,200 yuan;
3. Shenzhen Shenbao Industrial Co., Ltd. (now renamed into “Shenzhen Cereals Holdings Co., Ltd.”, hereinafter
referred to as “SZCH” ) to be jointly and severally liable for the loan of 5,000,000.00 yuan.
Shenzhen Futian District People’s Court issued a first-instance judgment on May 31, 2017, ruling that Changzhou
Company should repay the loan principal of 5 million yuan and interest of 353,900 yuan, and interest penalty
(interest penalty is based on 5 million yuan as the principal, calculated from September 7, 2013 to the date of
actual repayment at an annual rate of 21.6% within ten(10) days after the judgement came into effect. If the
repayment is made in installments, the interest of corresponding part will be calculated to the date of each
repayment) to the plaintiff Agricultural Products Guarantee Company within 10 days from the effective date of the
judgment, and Changzhou Company shall bear the lawyer’s fee of 71,900 yuan and the preservation fee of 5,000
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yuan; the judgment rejected the request of the Agricultural Products Guarantee Company’s request Shenbao
Company to bear joint and several liability.
The Agricultural Products Guarantee Company refused to accept the first instance judgment and filed an appeal to
the Shenzhen Intermediate People’s Court. On May 10, 2019, the Shenzhen Intermediate People’s Court served
the civil judgment (final judgment), and the Shenzhen Intermediate Court made some changes to the first-instance
judgment, ruling that SZCH shall be jointly and severally liable for the debts of Changzhou Company within the
range of 3.5 million yuan; SZCH has the right to recover from Changzhou Company after paying off the debts on
its behalf.
In May 2021, the Agricultural Products Guarantee Company applied to the People’s Court of Futian District of the
first instance for compulsory execution of 5,193,400 yuan. According to the request of the court, Changzhou
Company declared the property status to the court. The Agricultural Products Guarantee Company reached a
voluntary settlement with Changzhou Company and SZCH. On September 29, 2021, the Agricultural Products
Guarantee Company submitted an application to the People’s Count of Futian District for consent to the settlement
and termination of execution. On October 20, 2021, the People’s Court of Futian District issued an enforcement
ruling to terminate the enforcement of the case.
(14) Lease contract dispute case in which Shenzhen Yanxin Industrial Co., Ltd. sued SZCG
On April 12, 2022, the plaintiff Shenzhen Yanxin Industrial Co., Ltd. filed a lawsuit with the People’s Court of
Longgang District with SZCG as the defendant, requesting: The defendant shall pay the following amount to the
plaintiff, totaling 1,583,800 yuan. 1) To compensate the plaintiff for the house renovation fee: 1,263,800 yuan
(including firefighting construction fee: 1,840,000 yuan, purchase fee of firefighting equipment: 900,000 yuan
(buildings 1-6), and decoration construction fee: 3,062,000 yuan). 2) To compensate the plaintiff for the
maintenance of water and electricity facilities: 120,000 yuan (180,000 yuan per year for the maintenance of three
buildings); 3) To compensate the plaintiff for changing the housing property from industrial to commercial:
200,000 yuan; 4) The legal costs of the case shall be borne by the defendant.
The People’s Court of Longgang District held a trial on this case on November 1, 2022.
On January 11, 2023, the People’s Court of Longgang District, Shenzhen made a judgment: 1. The defendant
SZCG shall pay the plaintiff Shenzhen Yanxin Industrial Co., Ltd. a compensation of 640,000 yuan for housing
renovation within seven days from the effective date of this judgment; 2. Reject other litigation requests from the
plaintiff Shenzhen Yanxin Industrial Co., Ltd.
Both the plaintiff and defendant have filed appeals.
(15) Loan contract dispute case in which Wuhan Jiacheng sued Wuhan Xinzhiquan Industrial Co., Ltd. and
Wuhan Chensheng Mining Investment Co., Ltd.
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Wuhan Jiacheng filed a lawsuit with the People’s Court of Qingshan District with Wuhan Xinzhiquan Industrial
Co., Ltd..and Wuhan Chensheng Mining Investment Co., Ltd. as the defendants, requesting: 1) Defendant Wuhan
Xinzhiquan Industrial Co., Ltd. shall repay the loan of 5.00 million yuan; 2) Defendant Wuhan Xinzhiquan
Industrial Co., Ltd. shall pay the interest calculated at the annual interest rate of 24% from August 29, 2014 to the
date when the principal is paid off; 3) Defendant Wuhan Chensheng Mining Investment Co., Ltd. shall be jointly
and severally liable for the above debts of defendant Wuhan Xinzhiquan Industrial Co., Ltd.; 4) The defendants
shall bear the legal costs of the case.
On May 30, 2019, the People’s Court of Qingshan District made the judgment ([2019] E 0107 MCH No. 104): 1)
the defendant Wuhan Xinzhiquan Industrial Co., Ltd. shall repay the loan of 5.00 million yuan to the plaintiff
Wuhan Jiacheng within ten (10) days after the judgment takes effect; 2) the defendant Wuhan Xinzhiquan
Industrial Co., Ltd. shall pay the interest to the plaintiff Wuhan Jiacheng within ten (10) days after the judgment
takes effect (based on the unpaid amount, the interest shall be calculated from August 29, 2014 at the annual rate
of 24%, until the date of actual repayment); 3) Defendant Wuhan Chensheng Mining Investment Co., Ltd. shall be
jointly and severally liable for the repayment of Item (1) and (2), and shall have the right to recover the liability
from the defendant Wuhan Xinzhiquan Industrial Co., Ltd. after assuming the liability.
Wuhan Jiacheng applied to the People’s Court of Qingshan District, Wuhan City, for enforcement. On June 4,
2020, since the company subject to enforcement had no property for enforcement for the time being, the People’s
Court of Qingshan District, Wuhan City, made the enforcement judgment ([2019]E0107ZNo.2117) enforcement
judgment to terminate the enforcement procedure.
(16) Liability dispute case in which Wuhan Jiacheng sued shareholders Chen Wei, Tian Xinhua, Yu Yong
and Chen Xin for impairing the interests creditors of the company
According to the civil judgement ([2019]E0107MCHNo.104), Wuhan Xinzhiquan Industrial Co., Ltd. owed debts
to Wuhan Jiacheng. Wuhan Jiacheng applied to the People’s Court of Qingshan District, Wuhan City, for
enforcement on the basis of the civil judgment. The court made a judgment to terminate the enforcement
procedure since Wuhan Xinzhiquan Industrial Co., Ltd. had no property for enforcement.
The court ascertained that the actual contributor of Wuhan Xinzhiquan Industrial Co., Ltd. was Wuhan Pengling
Company, in which Chen Wei, Yu Yong and Chen Xin were dummy shareholders and Tian Xinhua was fake
shareholder. The shareholders of Wuhan Xinzhiquan Industrial Co., Ltd. failed to fulfill their contribution
obligations of 9.3 million yuan.
With Chen Wei, Tian Xinhua, Yu Yong and Chen Xin as defendants, Wuhan Jiacheng filed a lawsuit with the
People’s Court of Qingshan District, Quhan City, requesting: 1) the defendants Chen Wei, Tian Xinhua shall be
jointly and severally liable for the supplementary compensation for debts of Wuhan Xinzhiquan Industrial Co.,
Ltd. to the plaintiff determined in civil judgment([2019]E0107MCHNo.104) made by the People’s Court of
Qingshan District, Wuhan City(based on the principal 5.00 million yuan, the interest shall be calculated at the
annual rate of 24% from August 29, 2014 until the actual repayment date) within the scope of principal and
interest of 9.3 million yuan not contributed; 2) Defendants Yu Yong and Chen Xin shall be jointly and severally
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liable for the above supplementary compensation liability of Tian Xinhua; 3) The defendants shall bear the legal
costs of the case.
In 2020, the People’s Court of Qingshan District, Wuhan City, made the judgement ([2020]E0107 MCHNo. 3458):
1. The defendant Chen Wei shall, within 10 days from the effective date of the judgment, bear the supplementary
compensation liability to the plaintiff Wuhan Jiacheng for the debt of Wuhan Xinzhiquan Industrial Co., Ltd.
determined in civil judgment ([2019]E0107MCHNo.104) made by Wuhan Qingshan District People’s Court
within the scope of principal and interest of 4.00 million yuan not contributed; 2. The defendant Chen Xin shall,
within ten (10) days from the effective date of the judgment, bear joint and several liability to the plaintiff Wuhan
Jiacheng for the debts of Wuhan Xinzhiquan Industrial Co., Ltd. determined in civil judgment ([2019]E0107MCH
No.104) made by the People’s Court of Qingshan District, Wuhan City, within the scope of principal and interest
of 5.3 million yuan not contributed by the actual contributor Wuhan Pengling Group Co., Ltd. 3. Other claims of
the plaintiff Wuhan Jiacheng are rejected.
After the judgment took effect, Wuhan Jiacheng applied to the People’s Court of Qingshan District, Wuhan City,
for enforcement.
On September 14, 2022, the People’s Court of Qingshan District, Wuhan City, made the judgement ([2022] E
0107 Z No. 1287) to auction and sell off the houses under the name of Chen Xin subject to enforcement.
Chen Xin’s shops in Huangpi and the parking lots located in the first and second phase of Rongke Tiancheng
in Jiang’an District have been auctioned; On January 4, 2023, Chen Xin’s ex-husband, Yuan Ding, applied to the
the People’s Court of Qingshan District to require 50% of the auction funds on the grounds that the shop located
in Huangpi and the parking lots located in second phase of Rongke Tiancheng were jointly owned after marriage.
The court has not yet disbursed the auction funds. Besides, auction proceedings against Chen Wei’s property have
been initiated and the creditors have now applied to resume enforcement.
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(17) Contract dispute in which Shenzhen Nanshan District Housing and Construction Bureau sued SZCG
In 2008, SZCG and Shenzhen Yulunda Investment Development Co., Ltd. (hereinafter referred to as “Yulunda”)
signed the “Supplementary Agreement (IV) on the Project of Cooperative Renovation of Dingtou Village Granary”
(hereinafter referred to as the “Supplementary Agreement (IV)”), agreeing that SZCG provided land use rights
and Yulunda provided all the construction funds in Kangdayuan Project. Both parties opened a regulatory account
jointly managed by SZCG and Yulunda (hereinafter referred to as the “co-managed account”).
On April 26, 2019, Shenzhen Nanshan District Housing and Construction Bureau signed the “Repurchase
Agreement” with SZCG. Shenzhen Nanshan District Housing and Construction Bureau selected 6 houses for
repurchase from the remaining 40 houses in Kangdayuan Project, and the repurchase funds were paid to the
co-managed account, and SZCG issued relevant receipts.
After the signing of the Repurchase Agreement, Shenzhen Nanshan District Housing and Construction Bureau
orally requested SZCG to issue the invoice for the repurchase funds for several times. However, due to the tax
burden and historical problems, SZCG has not been able to issue the invoice, the houses are still under the control
of Yulunda, and Shenzhen Nanshan District Housing and Construction Bureau has not paid the repurchase funds.
On September 1, 2022, Shenzhen Nanshan District Housing and Construction Bureau filed a lawsuit with the
People’s Court of Futian District with SZCG as the defendant, requesting the court to:
1. Judge the defendant SZCG to fulfill its obligation of assistance and issue the corresponding legal tax-included
invoice to the plaintiff according to the amount of the repurchase funds, with the invoice amount of RMB
3,898,814.22 yuan.
2. The defendant shall bear the legal costs in this case.
SZCG filed a jurisdiction objection with the People’s Court of Futian District.
On May 11, 2023, the People’s Court of Futian District made a ruling to reject the objection raised by the
defendant SZCG to the jurisdiction of the case.
On May 18, 2023, SZCG appealed to Shenzhen Intermediate People’s Court, requesting: 1. Revoke the civil
ruling of the People’s Court of Futian District on rejecting jurisdiction objection [(2023) Y0304MCH No.7416]; 2.
Transfer the case to the People’s Court of Nanshan District.
On June 20, 2023, Shenzhen Intermediate People’s Court made a ruling to reject the appeal and uphold the
original ruling.
On July 3, 2023, SZCG requested the People’s Court of Futian District to add Yulunda as the third party to
participate in the lawsuit of the case.
On July 3, 2023, SZCG filed a counterclaim with the People’s Court of Futian, requesting: 1. Terminate the
counterclaim of the Repurchase Agreement signed by the plaintiff and the defendant on April 26, 2019; 2. Order
the counterclaim defendant to bear the counterclaim costs in the case.
The case was heard on July 18, 2023, and the court has not made a judgment yet.
(18) Construction contract dispute between Zhonggang Construction and Dongguan Logistics
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Zhonggang Construction Group Co., Ltd. (hereinafter referred to as “Zhonggang Construction”) and Dongguan
Logistics signed the “Agreement on Design, Construction and Construction Management of SZCG Storage
Supporting Terminal Project in Freshwater Estuary Operation Area in Machong Port, Humen Port” in 2016,
agreeing that Zhonggang Construction shall undertake the engineering design and construction management of
Dongguan Logistics terminal. Six engineering changes were added in the project, and there were differences in
engineering volume and engineering settlement. In order to ensure the normal production and operation of
Dongguan Logistics, both parties settled and paid the part that was not in dispute (i.e. 104,969,795.62 yuan), while
suspended the payment for the part that was in dispute (i.e. 15,614,042.53 yuan) through negotiation or litigation.
Zhonggang Construction cooperated with Dongguan Logistics to successfully pass the completion acceptance of
the first phase of the terminal, and Dongguan Logistics obtained the "Port Operation License of the People's
Republic of China". As of June 2022, Dongguan Logistics has paid 104,969,795.62 yuan to Zhonggang
Construction.
On April 24, 2023, Dongguan Logistics received the “Civil Complaint” and other relevant documents. Zhonggang
Construction filed a lawsuit with Dongguan Logistics as the defendant to the First People’s Court of Dongguan,
requesting: 1. Order the defendant to pay 15,614,042.53 yuan to the plaintiff for the project; 2. Order the
defendant to pay the interest on the overdue payment to the plaintiff (temporarily amounting to 6,072,161.58 as of
February 24, 2023); 3. Order the defendant to bear all litigation costs of the case amounting to 21,686,204.11
yuan.
On April 26, 2023, Dongguan Logistics applied to the First People’s Court of Dongguan for an extension of proof.
On May 24, 2023, Dongguan Logistics, as a counterclaim plaintiff, filed a counterclaim with Zhonghong
Construction as the counterclaim defendant to the First People’s Court of Dongguan, requesting: 1. Order the
counterclaim defendant to pay the counterclaim plaintiff liquidated damages of 2,019,781.68 yuan (based on the
provisional settlement price of the project of 100,989,083.8 yuan, calculated according to 2% of the provisional
settlement price of the project, and the amount of liquidated damages is finally calculated on the basis of the total
project price determined by the court); 2. Order the counterclaim defendant to bear all counterclaim costs in the
case.
On June 5, 2023, Zhonggang Construction added a claim: The defendant shall compensate the plaintiff for the loss
of 6,020,000 yuan for the delay in the construction.
On June 5, 2023, both parties held the first pre-trial meeting in the First People’s Court of Dongguan.
On June 9, 2023, the First People’s Court of Dongguan informed that since the respondent Guangdong Province
Planning & Design Institute for Water Transportation Co., Ltd. had an interest in the case, in order to ascertain the
facts of the case, the plaintiff's application was allowed to add Guangdong Province Planning & Design Institute
for Water Transportation Co., Ltd. as the third party in the case to participate in the lawsuit.
On June 15, 2023, the First People’s Court of Dongguan served a summons and held the second pre-trial meeting
on July 6, 2023.
On June 30, 2023, Zhonggang Construction filed a lawsuit to Guangzhou Maritime Court, with Dongguan
Logistics as the defendant and Guangdong Province Planning & Design Institute for Water Transportation Co.,
Ltd. as the third party, requesting: 1. Order the defendant to pay 15,614,042.53 yuan to the plaintiff for the project;
2. Order the defendant to pay the interest on overdue payment to the plaintiff (the specific calculation method is
detailed in the "Interest Calculation Table", temporarily calculated to June 30, 2023, in an amount of 6,371,309.53
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yuan); 3. Order the defendant to compensate the plaintiff for the loss of 6,020,000 yuan for the delay in
construction; 4. Order the defendant to bear all litigation costs of the case.
The total amount of the above claims 1 to 3 is 28,005,352.06 yuan.
On July 4, 2023, Zhonggang Construction applied to the First People’s Court of Dongguan for withdrawal of the
lawsuit due to the change of jurisdiction, and planned to file another lawsuit with the Maritime Court.
On July 5, 2023, Dongguan Logistics applied to the First People’s Court of Dongguan to withdraw the
counterclaim in response to the aforementioned situation, and simultaneously prepared to respond to the litigation
from the Maritime Court.
On July 21, 2023, Guangzhou Maritime Court sent a summons, a notice of response and other legal documents to
SZCG Logistics (Dongguan) Co., Ltd. A pre-trial meeting and the hearing will be held for the case in the litigation
service center of Guangzhou Maritime Court in Haizhu District, Guangzhou on September 11, 2023.
On August 11, 2023, the First People’s Court of Dongguan made a civil ruling and agreed both parties to
withdraw the lawsuit.
(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
XV. Events after balance sheet date
1. Important non-adjustment matters
Unit: RMB/CNY
Impact on financial status and Reasons of failure to estimate
Item Content
operation results the impact
2. Profit distribution
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3. Sales return
4. Other events after balance sheet date
XVI. Other important events
1. Previous accounting errors correction
(1) Retrospective restatement
Unit: RMB/CNY
Content of accounting error Items impact during every
Procedures Accumulated impact
correction comparative period
(2)Prospective application
Reasons for adopting the prospective
Content of accounting error correction Approval procedure
applicable method
2. Debt restructuring
3. Assets exchange
(1) Exchange of non-monetary assets
(2) Other assets exchange
4. Pension plan
5. Discontinuing operation
Unit: RMB/CNY
Total Income tax Net Profit of discontinuing operation attributable to owners of
Item Revenue Expenses
profit expenses profit parent company
Other explanation
6. Segment
(1) Recognition basis and accounting policy for reportable segment
(2) Financial information for reportable segment
Unit: RMB/CNY
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深圳市深粮控股股份有限公司 2022 年年度报告全文
Item Offset between segments Total
(3) Explain reasons in case the Company has no segments, or is unable to disclose total assets and liabilities
of segments
(4) Other explanation
7. Other major transaction and events makes influence on investor’s decision
8. Other
XVII. Notes to main items of financial statements of parent company
1. Account receivable
(1) Account receivable classified by category
Unit: RMB/CNY
Ending balance Opening balance
Provision for bad Provision for bad
Book balance Book balance
Category debt Book debt Book
Amoun Accrua value Amoun Amoun Accrual value
Amount Ratio Ratio
t l ratio t t ratio
Account receivable
with provision for 28,453.0 0.06 28,453. 100.00 28,453. 28,453. 100.00
0.03%
bad debt accrual on 8 % 08 % 08 08 %
a single basis
Including:
Account receivable
with provision for 46,241,7 99.9 4,932.0 46,236, 87,199, 4,932.0 87,194,1
0.01% 99.97% 0.01%
bad debt accrual on 96.86 4% 3 864.83 110.87 3 78.84
portfolio
Including:
Portfolio of sales 94,336.6 0.20 4,932.0 89,404. 59,425. 4,932.0 54,493.5
5.23% 0.07% 8.30%
receivable 0 % 3 57 60 3 7
Object-specific 46,147,4 99.7 46,147, 87,139, 87,139,6
99.90%
portfolio 60.26 4% 460.26 685.27 85.27
46,270,2 100. 33,385. 46,236, 87,227, 100.00 33,385. 87,194,1
Total
49.94 00% 11 864.83 563.95 % 11 78.84
Accrual of provision for bad debt on single item: 28,453.08 yuan
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深圳市深粮控股股份有限公司 2022 年年度报告全文
Unit: RMB/CNY
Ending balance
Name
Book balance Provision for bad debt Accrual ratio Accrual causes
Other accrual on single Extremely low
28,453.08 28,453.08 100.00%
basis possibility of recovery
Total 28,453.08 28,453.08 -- --
Accrual of provision for bad debt on portfolio: 4,932.03 yuan
Unit: RMB/CNY
Ending balance
Name
Book balance Provision for bad debt Accrual ratio
Portfolio of sales receivable 94,336.60 4,932.03 5.23%
Object-specific portfolio 46,147,460.26
Total 46,241,796.86 4,932.03
Explanation on the basis to determine such portfolio:
Accrual of provision for bad debt on portfolio:
Unit: RMB/CNY
Ending balance
Name
Book balance Provision for bad debt Accrual ratio
Explanation on the basis to determine such portfolio:
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
Unit: RMB/CNY
Account age Book balance
Within one year(including one year) 46,232,944.26
Over 3 years 37,305.68
4-5 years 8,852.60
Over 5 years 28,453.08
Total 46,270,249.94
(2) Provision for bad debt accrual, collected or reversal in the period
Provision for bad debt accrual in the period:
Unit: RMB/CNY
Opening Amount changed in the period
Category Ending balance
balance Accrual Collected or Written off Other
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reversal
Other accrual
28,453.08 28,453.08
on single basis
Portfolio of
4,932.03 4,932.03
sales receivable
Total 33,385.11 33,385.11
Including major amount provision for bad debt collected or reversal in the period:
Unit: RMB/CNY
Enterprise Amount collected or reversal Collection way
(3) Account receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including major account receivable written-off:
Unit: RMB/CNY
Amount Cause of Procedure of Resulted by related
Enterprise Nature
written-off written-off written-off transaction (Y/N)
Explanation on account receivable written-off:
(4)Top 5 accounts receivable at ending balance by arrears party
Unit: RMB/CNY
Ending balance of accounts Proportion in total receivables Ending balance of bad debt
Enterprise
receivable at ending balance (%) reserve
Total
(5) Amount of assets and liabilities formed by transferring of account receivable and continuing to be
involved
Other explanation:
(6) Accounts receivable derecognized due to the transfer of financial assets
2. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Other account receivable 1,637,542,361.56 1,560,888,393.94
Total 1,637,542,361.56 1,560,888,393.94
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(1) Interest receivable
1) By category
Unit: RMB/CNY
Item Ending balance Opening balance
2) Important overdue interest
Whether impairment
Borrower Ending balance Overdue time Overdue causes occurs and its
judgment basis
Other explanation:
3) Accrual of provision for bad debt
□ Applicable Not applicable
(2) Dividend receivable
1) By category
Unit: RMB/CNY
Item (or the invested entity) Ending balance Opening balance
2) Important dividend receivable with account age over one year
Unit: RMB/CNY
Whether impairment
Item (or the invested Reasons for not
Ending balance Account age occurs and its
entity) collection
judgment basis
3) Accrual of provision for bad debt
□ Applicable Not applicable
Other explanation:
(3) Other account receivable
1) By nature
Unit: RMB/CNY
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Nature Ending book balance Opening book balance
Margin and deposit 1,008,000.00 1,054,999.00
Other intercourse funds 1,664,379,255.30 1,587,678,288.68
Total 1,665,387,255.30 1,588,733,287.68
2) Accrual of provision for bad debt
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Provision for bad debt the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance on Jan. 1,
213,626.85 27,631,266.89 27,844,893.74
2023
Balance on Jan. 1,
2023 in the period
Balance on June 30,
213,626.85 27,631,266.89 27,844,893.74
2023
Changes in book balance with significant changes in loss reserves during the current period
□ Applicable Not applicable
By account age
Unit: RMB/CNY
Account age Book balance
Within one year(including one year) 1,638,892,849.95
2-3 years 1,000,000.00
Over 3 years 25,494,405.35
4-5 years 436,664.33
Over 5 years 25,057,741.02
Total 1,665,387,255.30
3) Provision for bad debt accrual, collected or reversal in the period
Provision for bad debt accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written off Other
reversal
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Accrual of
provision for bad
27,631,266.89 27,631,266.89
debt on single
item
Accrual of
provision for bad 213,626.85 213,626.85
debt on portfolio
Total 27,844,893.74 27,844,893.74
Including provision for bad debt reversed or collected in the period with major amount:
Unit: RMB/CNY
Enterprise Amount reversal or collected Collection way
4) Other account receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including important other account receivable written-off:
Unit: RMB/CNY
Amount Procedure of Resulted by related
Enterprise Nature Written-off causes
written-off written-off transaction (Y/N)
Explanation on other account receivable written-off:
5) Top 5 other receivables at ending balance by arrears party
Unit: RMB/CNY
Ratio in total
ending balance of Ending balance of
Enterprise Nature Ending balance Account age
other account bad debt reserve
receivables
6) Other account receivables related to government grants
Unit: RMB/CNY
Time, amount and basis
Enterprise Government grants Ending balance Ending account age
for collection predicted
7) Other receivables de-recognized due to the transfer of financial assets
8) Amount of assets and liabilities formed by transfer of other receivable and continuing to be involved
Other explanation:
215
深圳市深粮控股股份有限公司 2022 年年度报告全文
3. Long-term equity investment
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment in 4,039,319,425. 4,033,819,425. 4,039,319,425. 4,033,819,425.
5,500,000.00 5,500,000.00
subsidiary 09 09 09 09
Investment in
joint venture
2,927,628.53 2,927,628.53 2,927,628.53 2,927,628.53
and associated
enterprise
4,042,247,053. 4,033,819,425. 4,042,247,053. 4,033,819,425.
Total 8,427,628.53 8,427,628.53
62 09 62 09
(1) Investment in subsidiary
Unit: RMB/CNY
Current changes (+/-) Ending
Opening Ending
Invested Accrual of balance of
balance(book Additional Capital balance(book
entity impairment Other impairment
value) investment reduction value)
provision provision
Shenbao
Industry & 5,500,000.00
Trade
Shenliang 80,520,842.3
80,520,842.36
Food 6
Shenbao 223,228,545.9 223,228,545.
Huacheng 1 91
Huizhou 60,000,000.0
60,000,000.00
Shenbao 0
Shenbao 50,000,000.0
50,000,000.00
Technology 0
Shenbao 3,291,415,036 3,291,415,03
Investment .82 6.82
SZCG 306,980,000.0 306,980,000.
0 00
Dongguan 21,675,000.0
21,675,000.00
Logistics 0
Wuhan 4,033,819,425 4,033,819,42
5,500,000.00
Jiacheng .09 5.09
216
深圳市深粮控股股份有限公司 2022 年年度报告全文
Total 4,048,519,425 54,676,764.1 69,376,764.1 4,033,819,42 5,500,000.00
.09 1 1 5.09
(2) Investment in associated enterprises and joint venture
Unit: 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
en
Shenba
o
(Liaoyu 57,628.
an) 53
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
217
深圳市深粮控股股份有限公司 2022 年年度报告全文
ess Co.,
ltd.
Subtota 2,927,6
l 28.53
2,927,6
Total
28.53
(3) Other explanation
4. Operating revenue and operating cost
Unit: RMB/CNY
Current Period Last Period
Item
Revenue Cost Revenue Cost
Main business 80,328,054.38 235,795.14 94,652,563.62 235,795.14
Other business 137,609.18 80,008.26
Total 80,465,663.56 235,795.14 94,732,571.88 235,795.14
Revenue-related information:
Unit: RMB/CNY
Category Branch 1 Branch 2 Total
Product types
Including:
Classification by
business area
Including:
Market or customer
type
Including:
Contract types
Including:
Classification by time
of goods transfer
Including:
218
深圳市深粮控股股份有限公司 2022 年年度报告全文
Classification by
contract duration
Including:
Classification by sales
channel
Including:
Total
Information related to performing obligations:
Nil
Information related to the transaction price apportioned to the remaining performance obligations:
The amount of income corresponding to performing 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 0.00 yuan, among them, 0.00 yuan of revenue is expected to be recognized in
the year
Other explanation:
5. Investment income
Unit: RMB/CNY
Item Current Period Last Period
Financing income 975,629.57 2,279,175.50
Total 975,629.57 2,279,175.50
6. Other
XVIII. Supplementary information
1. Current extraordinary gains/losses
Applicable □Not applicable
Unit: RMB/CNY
Item Amount Note
Gains/losses from the disposal of non-current asset (Including the offsetting portion
1,587,775.37
of the provision for impairment of assets that has been withdrawn)
Governmental grants reckoned into current gains/losses (except for those with
normal operation business concerned, and conform to the national policies &
5,788,072.14
regulations and are continuously enjoyed at a fixed or quantitative basis according to
certain standards)
219
深圳市深粮控股股份有限公司 2022 年年度报告全文
Profit and loss of assets delegation on others’ investment or management 3,107,648.76
Except for the effective hedging operations related to normal business operation of
the Company, the gains/losses of fair value changes from holding the tradable
financial assets and tradable financial liabilities, and the investment earnings 174,961.34
obtained from disposing the trading financial asset, trading financial liability and
financial assets available for sale
Other non-operating income and expenditure except for the aforementioned items 143,428.04
Less: Impact on income tax 1,679,903.52
Impact on minority shareholders’ equity 76,167.07
Total 9,045,815.06 --
Details of other gains/losses items that meets the definition of extraordinary gains/losses:
□ Applicable Not applicable
The Company has no other gains/losses items that meet the definition of extraordinary gains/losses.
Explain the items defined as recurring gains/losses items according to the lists of extraordinary gains/losses in Q&A Announcement
No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Gains/Losses.
□ Applicable Not applicable
2. ROE and earnings per share
Earnings per share
Profits during reporting period Weighted average ROE Basic earnings per Diluted earnings per
share (RMB/Share) share (RMB/Share)
Net profit attributable to common
3.47% 0.1459 0.1459
shareholders of the company
Net profit attributable to common
shareholders of the company
3.28% 0.1380 0.1380
after deducting nonrecurring
gains/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
Unit: RMB/CNY
Net profit Net assets
Current Period Last Period Ending balance Opening balance
Chinese GAAP 168,149,768.31 237,527,782.93 4,643,162,339.43 4,762,973,461.81
Items and amount adjusted by IAS:
220
深圳市深粮控股股份有限公司 2022 年年度报告全文
Adjustment for other
payable fund of stock 1,067,000.00 1,067,000.00
market regulation
IAS 168,149,768.31 237,527,782.93 4,644,229,339.43 4,764,040,461.81
(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable Not applicable
(3) Explanation on data differences under the accounting standards in and out of China; as for the
differences adjustment audited by foreign auditing institute, listed name of the institute
4. Other
221
