SHENZHEN ZHONGHENG HUAFA CO., LTD.
SEMI-ANNUAL REPORT 2022
【23 Aug,2022】
Section I. Important Notice, Contents and Interpretation
Board of Directors, Board of Supervisory, all directors, supervisors and senior executives of
Shenzhen Zhongheng HUAFA 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.
Li Zhongqiu, Principal of the Company, Chen Zhigang, person in charger of accounting
works and Chuai Guoxu, person in charge of accounting organ (accounting principal) hereby
confirm that the Financial Report of 2022 Semi-Annual Report is authentic, accurate and
complete.
All directors are attended the Board Meeting for report deliberation.
Concerning the forward-looking statements with future planning involved in the Report, they
do not constitute a substantial commitment for investors. Majority investors are advised to
exercise caution of investment risks.
Risks factors are being well-described in the Report, found more in risks factors and
countermeasures disclosed in Prospects for Future Development of the Board of Directors’
Report.
The Company has no plan of cash dividends carried out, bonus issued and capitalizing of
common reserves either.
1
Contents
Section I Important Notice, Contents and Interpretation .............................................................. 1
Section II Company Profile and Main Financial Indexes .............................................................. 5
Section III Management Discussion and Analysis ............................................................................................... 8
Section IV Corporate Governance ................................................................................................................ 15
Section V Enviornmental and Social Responsibility .......................................................................................... 16
Section VI Important Matters ........................................................................................................ 17
Section VII Changes in shares and particular about shareholders ............................................. 32
Section VIII Preferred Stock .......................................................................................................... 37
Section IX Corporate Bonds ........................................................................................................... 38
Section X Financial Report ............................................................................................................. 39
2
Documents Available for Reference
I. Financial statement carrying the signatures and seals of the person in charge of the Company, principal of the
accounting works and person in charge of accounting organ;
II. All documents of the Company and manuscripts of public notices that disclosed in the Securities Times and
Hong Kong Commercial Daily designated by CSRC in the report period;
III. Article of Association
IV. Other relevant files.
3
Interpretation
Items Refers to Contents
SHENZHEN ZHONGHENG HUAFA
Company, Shen HUAFA Refers to
CO., LTD.
Hengfa Technology Refers to Wuhan Hengfa Technology Co., Ltd.
Shenzhen Zhongheng HUAFA Property
HUAFA Property Refers to
Co., Ltd
Shenzhen HUAFA Property Lease
HUAFA Lease Refers to
Management Co., Ltd
Wuhan Zhongheng New Science &
Wuhan Zhongheng Group Refers to
Technology Industrial Group Co., Ltd
Hong Kong Yutian International
HK Yutian Refers to
Investment Co., Ltd.
Wuhan Hengsheng Photo-electricity
Hengsheng Photo-electricity Refers to
Industry Co., Ltd.
Wuhan Hengsheng Yutian Industrial Co.,
Hengsheng Yutian Refers to
Ltd.
Yutian Henghua Refers to Shenzhen Yutian Henghua Co., Ltd.
HUAFA Hengtian Refers to Shenzhen HUAFA Hengtian Co., Ltd.
HUAFA Hengtai Refers to Shenzhen HUAFA Hengtai Co., Ltd.
Shenzhen Vanke Real Estate Co., Ltd,
Shenzhen Vanke Refers to renamed as“Shenzhen Vanke
Development Co., Ltd”
Shenzhen Vanke Guangming Real Estate
Vanke Guangming Refers to
Development Co., Ltd
V& T Law Firm Refers to Shenzhen V& T Law Firm
Shenzhen Zhongheng Semiconductor
Zhongheng Semiconductor (former
Refers to Co., Ltd. (former Zhongheng Huafa
Huafa Technology)
Technology Co., Ltd)
4
Section II. Company Profile and Main Financial Indexes
I. Company profile
Shen HUAFA -A,
Short form of the stock Stock code 000020
Shen HUAFA- B
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
深圳中恒华发股份有限公司
Chinese)
Short form of the Company
深华发
(in Chinese) (if applicable)
Foreign name of the
SHENZHEN ZHONGHENG HUAFA CO., LTD.
Company (if applicable)
Legal representative Li Zhongqiu
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Niu Zhuo
618, 6/F, East Tower, Huafa Building,
Contact add. No.411 Building, Huafa (N) Road,
Futian District, Shenzhen
Tel. 0755-86360201
Fax. 0755-86360201
E-mail huafainvestor@126.com.cn
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found more details in Annual Report 2021.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation
place for semi-annual report have no change in reporting period, found more details in Annual Report 2021.
5
3. Other relevant information
Whether other relevant information has changed in the reporting period
□ Applicable √ Not applicable
VI. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data
□ Yes √ No
Changes in the current
reporting period compared
Current period Same period last year
with the same period of the
previous year (+,-)
Operating income(RMB) 354,146,920.81 391,633,808.55 -9.57%
Net profit attributable to
shareholders of the listed 8,806,785.10 6,989,362.48 26.00%
company(RMB)
Net profit attributable to
shareholders of the listed
company after deducting non- 4,150,928.94 7,034,198.78 -40.99%
recurring gains and
losses(RMB)
Net cash flow arising from
49,720,222.38 -21,818,369.59 327.88%
operating activities(RMB)
Basic earnings per
0.0311 0.0248 25.40%
share(RMB/Share)
Diluted earnings per
0.0311 0.0248 25.40%
share(RMB/Share)
Weighted average ROE 2.53% 2.07% 0.46%
Changes at the end of the
reporting period compared
End of current period End of last year
with the end of the previous
year (+,-)
Total assets(RMB) 638,152,495.34 659,933,225.57 -3.30%
Net assets attributable to
shareholder of listed 352,257,424.41 343,450,639.31 2.56%
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
6
The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International
Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period.
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or
Chinese GAAP (Generally Accepted Accounting Principles) in the period.
VI. Items and amounts of extraordinary profit (gains)/loss
√Applicable □ Not applicable
Unit: RMB/CNY
Item Amount Note
Gains/losses from the disposal of non-
current asset (including the write-off that 789,308.26
accrued for impairment of assets)
Governmental subsidy reckoned into
current gains/losses (except for those
with normal operation business
concerned, and conform to the national
4,515,323.81
policies & regulations and are
continuously enjoyed at a fixed or
quantitative basis according to certain
standards)
Gain/loss of entrusted investment or
180,088.19
assets management
Other non-operating income and
expenditure except for the 25,266.61
aforementioned items
Less: Impact on income tax 854,130.71
Total 4,655,856.16
Specific information on other items of profits/losses that qualified the definition of non-recurring profit(gain)/loss
□Applicable √Not applicable
The Company does not have other items of profits/losses that qualified the definition of non-recurring profit(gain)/loss
Information on the definition of non-recurring profit(gain)/loss that listed in the Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss as the recurring
profit(gain)/loss
□Applicable √Not applicable
The Company does not have any non-recurring profit(gain)/loss listed under the Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss defined as
recurring profit(gain)/loss
7
Section III Management Discussion and Analysis
I. Main businesses of the company in the reporting period
After years of development, the company has gradually formed two main businesses in industry and property
management. Among them, the industrial business mainly includes injection molding, Styrofoam (light-weight
packaging materials), and complete machine production and sales of liquid crystal display, property management
business is mainly the lease of its own property.
II. Core competitiveness analysis
All industrial lands of the Company located in Shenzhen were taken into the first batch of plan under 2010
Shenzhen urban upgrade planning. In the future, development and operation of self-owned land resources would
become the income source of the Company on a long-term and stable basis.
III. Main business analysis
Overview
See the “I. Main businesses of the company in the reporting period”
Change of main financial data on a y-o-y basis
Unit: RMB/CNY
Same period of last
Current period y-o-y changes (+,-) Reasons
year
Operation income 354,146,920.81 391,633,808.55 -9.57%
Operation cost 311,845,943.49 334,523,805.25 -6.78%
Decrease in commodity
Sales expenses 9,503,158.57 14,094,617.96 -32.58%
wastage
Administrative
17,627,621.80 22,680,307.24 -22.28%
expenses
Decrease in foreign
Financial cost 1,940,816.62 5,241,702.86 -62.97%
exchange losses
Income tax expense 2,858,046.44 1,584,720.39 80.35% Increase in profitability
Net cash flow arising
Decrease in inventories
from operation 49,720,222.38 -21,818,369.59 -327.88%
and assets occupancy
activities
Net cash flow arising
from investment 2,353,325.62 -2,316,374.60 201.60% Disposal of fixed assets
activities
Net cash flow arising
Decrease in long-term
from financing -24,458,104.11 23,182,219.89 -205.50%
loans
activities
8
Net increase of cash Decrease in inventories
27,879,096.12 -1,355,867.36 2,156.18%
and cash equivalent and assets occupancy
Major changes on profit composition or profit resources in reporting period
No major changes on profit composition or profit resources occurred in reporting period
Constitution of operation income
Unit: RMB/CNY
Current period Same period of lat year Increase/decrease
Ratio in operation Ratio in operation y-o-y(+,-)
Amount Amount
income income
Total operation
354,146,920.81 100% 391,633,808.55 100% -9.57%
income
According to industries
Computer,
communications
and other
203,847,819.16 57.56% 205,727,604.15 52.53% -0.91%
electronic
equipment
manufacturing
Rubber and plastic
122,229,453.44 34.51% 160,400,235.93 40.96% -23.80%
products industry
Leasing and others 28,069,648.21 7.93% 25,505,968.47 6.51% 10.05%
According to products
Display 203,847,819.16 57.56% 205,727,604.15 52.53% -0.91%
Plastic injection
99,672,642.36 28.33% 137,963,397.80 35.23% -27.75%
hardware
Foam parts 22,556,811.08 6.37% 22,437,585.36 5.73% 0.53%
Property leasing
28,069,648.21 7.74% 25,505,221.24 6.51% 10.05%
and others
According to region
Domestic 303,461,034.26 85.69% 295,887,424.63 75.55% 2.56%
Overseas 50,685,886.55 14.31% 95,746,383.92 24.45% -47.06%
The industries, products, or regions accounting for over 10% of the company’s operating revenue or operating profit
√Applicable □ Not applicable
Unit: RMB/CNY
Increase/decrea
Increase/decrea Increase/decrea
Operation Gross profit se of gross
Operation cost se of operation se of operation
income ratio profit ratio y-o-
income y-o-y cost y-o-y
y
According to industries
Computer,
communication
s and other
203,847,819.16 191,933,490.52 5.84% -0.91% 3.83% -4.31%
electronic
equipment
manufacturing
Rubber and
122,229,453.44 114,807,915.44 6.07% -23.80% -20.62% -3.76%
plastic products
9
industry
According to products
Display 203,847,819.16 191,933,490.52 5.84% -0.91% 3.83% -4.31%
Plastic injection
99,672,642.36 90,817,327.84 8.88% -27.75% -26.39% -1.69%
hardware
According to region
Domestic 303,461,034.26 263,711,937.83 13.10% 2.56% 5.46% -2.39%
Overseas 50,685,886.55 48,134,005.66 5.03% -47.61% -43.01% -6.76%
Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted main business based on
latest one year’s scope of period-end
□ Applicable √ Not applicable
Reasons for y-o-y relevant data with over 30% changes
□ Applicable √ Not applicable
IV. Analysis of the non-main business
√Applicable □Not applicable
Unit: RMB/CNY
Description of Whether be sustainable
Amount Ratio in total profit
formation (Y/N)
Invoicing margin
Investment income 180,088.19 1.54% N
earnings
Non-operation revenue 40,574.92 0.35% Three generation fee N
Non-operation expense 15,308.31 0.13% Tax late fees N
Other income 4,515,323.81 38.71% Government subsidy N
V. Assets and liability analysis
1. Major changes of assets composition
Unit: RMB/CNY
End of the current period End of last year
Ratio Notes of major
Ratio in total Ratio in total changes(+,-) changes
Amount Amount
assets assets
Increase in
management
efficiency of
Monetary fund 75,664,614.16 11.86% 34,426,043.11 5.22% 6.64% inventory, and
the capital
occupancy
declined
Account
133,872,767.55 20.98% 128,675,327.97 19.50% 1.48%
receivable
Improve the
management
efficiency of
Inventory 66,100,631.11 10.36% 90,585,670.27 13.73% -3.37%
inventory and
reduced the
inventory
10
Investment real
45,327,612.66 7.10% 46,191,777.80 7.00% 0.10%
estate
Fixed assets 183,280,126.25 28.72% 187,889,261.50 28.47% 0.25%
Construction in
740,000.00 0.12% 740,000.00 0.11% 0.01%
process
Right-of-use
156,974.04 0.02% 209,298.72 0.03% -0.01%
assets
Decrease in
Short-term inventory,
11,433,573.00 1.79% 26,480,857.00 4.01% -2.22%
loans operational
loans declined
Contract
273,518.20 0.04% 736,355.70 0.11% -0.07%
liability
Lease liability 86,325.75 0.01% 115,101.00 0.02% -0.01%
2. Major overseas assets
□ Applicable √ Not applicable
3. Assets and liability measured by fair value
□ Applicable √ Not applicable
4. Assets right restriction till end of reporting period
Item Ending book value Restriction reasons
Monetary fund 14,890,386.86 Note payable margin
Fixed assets 11,972,048.26 Collateral for borrowing
Intangible assets 6,463,333.15 Collateral for borrowing
Monetary fund 92,568.28 Judicial freeze
Investment real estate 33,323,610.66 Collateral for borrowing
Disposal of fixed
92,857,471.69 Court seizure
assets
Total 159,599,418.90
VI. Investment analysis
1. Overall situation
□ Applicable √ Not applicable
11
2. The major equity investment obtained in the reporting period
□ Applicable √ Not applicable
3. The major non-equity investment doing in the reporting period
□ Applicable √ Not applicable
4. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The Company has no securities investment in the Period
(2) Derivative investment
□ Applicable √ Not applicable
The Company has no derivatives investment in the Period.
5. Application of raised proceeds
□ Applicable √ Not applicable
The Company has no application of raised proceeds in the Period.
VII. Sales of major assets and equity
1. Sales of major assets
□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.
2. Sales of major equity
□ Applicable √ Not applicable
VIII. Analysis of main holding company and stock-jointly companies
√Applicable □ Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
Unit: RMB/CNY
Company Main Register Operation Operation
Type Total assets Net assets Net profit
name business capital income profit
Hengfa Subsidiary Production 181,643,11 490,082,27 224,594,86 326,746,16 694,597.45 583,906.55
12
Technolog & sales 1.00 4.87 3.57 9.37
y Company
HUAFA Property
1,000,000.0 17,055,193. 1,798,595.8 3,278,337.4 1,271,549.0 1,497,741.9
Property Subsidiary manageme
0 87 7 4 3 6
Company nt
Particular about subsidiaries obtained or disposed in report period
□Applicable √ Not applicable
Explanation of main holding company and stock-jointly companies
IX. Structured vehicle controlled by the Company
□ Applicable √Not applicable
X. Risks and countermeasures
(1)Risk analysis
Wuhan Hengfa Technology, as an important subsidiary of the company, is faced with increasing pressure under
the influence of intensifying market competition and tight supply of raw and auxiliary materials and other factors,
the key to solve the dilemma is to upgrade technology, enhance the added value of technology, and improve
profitability; In the context of downstream consumer demand upgrading, it improves production efficiency by
increasing the research and development of new products, adjusting and improving the product structure, and
improving the production process; At the same time, it expands upstream supply channels of raw and auxiliary
materials to avoid material shortage affecting production.
For a certain period of time, property leasing is still another important business for the development of the
company. Making full use of the self-owned property to provide operation, leasing and service businesses will
bring a certain contribution to the company's cash flow. After the gradual implementation of the urban renewal
project, it will bring long-term and stable sources of income for the company.
(2) Countermeasures
◆Industrial Business Upgrade
The epidemic of COVID-19 is not over yet, and all colleagues in the company continued to work hard to serve
existing customers, vigorously expanded the market, and gained more market share; Meanwhile, the Company
will intensify the development of raw & auxiliary materials suppliers in shortage within the market, try to avoid
the negative impact of upstream material shortage on the Company’s production. On the basis of maintaining
customers, actively looked for high-quality technology projects in consumer electronics, and gradually realized
industrial upgrading through technology optimization and management optimization; at the same time, it
strengthened management, improved production efficiency, improved product quality, and made full use of the
geographical advantages of the company to make the business bigger and stronger.
◆Promote the urban renewal project
13
Speed up the promotion of renewal unit project of Huafa District, Gongming Street, Guangming New District,
Shenzhen and the renewal project renovation progress of Huafa Building, Huaqiang North Street, Futian District,
Shenzhen, accelerate the settlement of project procedures, and strive to make stage progress as early as possible.
◆Continue to focus on strengthening the company’s internal control
In 2022, the company will further optimize the corporate governance structure and improve the internal control
system and process and strictly implement and improve the executive ability of relevant system in accordance
with the governance requirements of listed companies, the company’s management and relevant departments will
execute the administrative provisions for approval procedures of fund utilizing, management system of related
transactions, working system of internal audit, internal reporting system of major information in strict accordance
with the requirements of internal control documents.
14
Section IV Corporate Governance
I. In the report period, the Company held annual general meeting and extraordinary
shareholders’ general meeting
1. Shareholders’ General Meeting in the report period
Ratio of investor
Session of meeting Type Date Date of disclosure Resolutions
participation
http://www.cninfo.
com.cn/new/disclo
sure/detail?stockC
ode=000020&ann
Annual General
AGM 48.15% 2022-06-09 2022-06-10 ouncementId=121
Meeting of 2021
3660641&orgId=g
ssz0000020&anno
uncementTime=20
22-06-10
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
II. Changes of directors, supervisors and senior executives
√ Applicable □ Not applicable
Name Position held Type Date Causes
Yang Bin Deputy GM, CFO Leaving office 2022-02-17 Personal reasons
Chen Zhigang Deputy GM, CFO Appointments 2022-02-18 Appointments
Director, Deputy
Jiang Junming Leaving office 2022-06-08 Personal reasons
President
Director, Deputy
Yang Hongyu Be elected 2022-06-09 Be elected
President
III. Profit distribution plan and capitalizing of common reserves plan for the Period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for
the midterm.
IV. Implementation of the company’s stock incentive plan, employee stock ownership plan or
other employee incentives
□ Applicable √ Not applicable
The Company had no stock incentive plan, employee stock ownership plan or other employee incentive in the reporting period.
15
16
Section V. Environmental and Social Responsibility
I. Important environmental issues
The listed Company and its subsidiary whether belongs to the key sewage units released from environmental protection department
□ Yes √No
Administrative penalties imposed for environmental issues during the reporting period
Impact on the
The company or Reasons for production & Corrective
Violations Penalty results
subsidiary penalty operation of listed measures
company
N/A N/A N/A N/A N/A N/A
Other environmental information disclosed with reference to the key emission units
Not applicable
Measures taken to reduce carbon emission during the reporting period and their effectiveness
□ Applicable √ Not applicable
Reasons for not disclosed other environmental information
Not applicable
II. Social responsibility
N/A
17
Section VI. Important Matters
I. Commitments that the actual controller, shareholders, related party, offeror and committed party as the
Company etc. have fulfilled during the reporting period and have not yet fulfilled by the end of reporting
period
□ Applicable √ Not applicable
There were no commitments that the actual controller, shareholders, related party, offeror and committed party as the Company etc.
have fulfilled during the reporting period and have not yet fulfilled by the end of reporting period
II. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period.
III. Guarantee outside against the regulation
□Applicable √Not applicable
No guarantee outside against the regulation in Period.
IV. Appointment and non-reappointment (dismissal) of CPA
Whether the financial report has been audited or not
□Yes √no
The company's semi-annual report has not been audited.
V. Explanation from Board of Directors and Supervisory Committee for “Qualified Opinion”
that issued by CPA
□ Applicable √Not applicable
VI. Explanation from the Board for “Qualified Opinion” of last year’s
□ Applicable √Not applicable
VII. Bankruptcy reorganization
□ Applicable √Not applicable
No bankruptcy reorganization for the Company in reporting period
VIII. Lawsuits
Significant lawsuits and arbitration
18
√Applicable □Not applicable
Amount of
The basic The results
money Predicted Advances in Execution of
situation of and effects of Disclosure Disclosure
involved (in liabilities litigation the litigation
litigation litigation date index
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Other lawsuits
□Applicable √ Not applicable
IX. Penalty and rectification
□Applicable √ Not applicable
X. Integrity of the company and its controlling shareholders and actual controllers
□ Applicable √Not applicable
XI. Major related transaction
1. Related transaction with routine operation concerned
√Applicable □ Not applicable
Relate Whet
Tradi
d her Cleari
Propo ng
Type Conte transa over ng Avail
Relate rtion limit
of nt of Pricin ction the form able Date Index
Relate Relati d in appro
relate relate g amou appro for simila of of
d onshi transa simila ved
d d princi nt (in ved relate r disclo disclo
party p ction r (in 10
transa transa ple 10 limite d marke sure sure
price transa thousa
ction ction thousa d or transa t price
ctions nd
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The The
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shareh remen marke marke N transf ditto and
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ess”
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shareh Sales marke marke 0 0.00% N transf ditto
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24
Ltd. contro 2022
ller for
the
Video
and
Telec
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nicati
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Busin
ess”
(Notic
e No:
2022-
16) on
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te
(www
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o.com
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The
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d of
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- d 510.0 2022- Telec
shareh Sales marke marke 62.65 0.63% N transf ditto
electri produ 6 04-26 ommu
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and tradin tradin
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te price price
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contro
Ltd. on (Notic
ller
hardw e No:
are 2022-
16) on
Jucha
o
Websi
te
(www
.cninf
o.com
.cn)
25
15,21 53,74
Total -- -- -- -- -- -- -- --
6.4 7.16
Detail of sales return with major
N/A
amount involved
During the reporting period, Hengfa Technology actually has 32.0934 million yuan
procurement from HK Yutian, 25.17% of the annual amount predicted at the beginning of
the year; purchased LCD monitor from Hengsheng Photo-electricity with 44.9609 million
yuan approximately, 35.26% of the annual amount predicted at the beginning of the year;
Report the actual implementation purchasing LCD Display from Hengsheng Photo-electricity with about 10.9161 million
of the daily related transactions yuan, 21.4% of the annual amount predicted at the beginning of the year; sold LCD Display
which were projected about their whole machine to HK Yutian with 35.6806 million yuan approximately, 22.39% of the
total amount by types during the annual amount predicted at the beginning of the year; sold LCD display to Hengsheng
reporting period(if applicable) Photo-electricity with about 27.8865 million yuan, 43.74% of the annual amount predicted
at the beginning of the year; and sold LCD relevant products of plastic injection hardware to
Hengsheng Photo-electricity with about 626,500 yuan,12.28% of the annual amount
predicted at the beginning of the year
Reasons for major differences
between trading price and market N/A
reference price
2. Related transactions of assets or equity acquisition and sold
□Applicable √Not applicable
There were no related transactions of assets or equity acquisition and sold during the reporting period
3. Main related transactions of mutual investment outside
□ Applicable √ Not applicable
No main related transactions of mutual investment outside for the Company in reporting period.
4. Contact of related credit and debt
□ Applicable √ Not applicable
No contact of related credit and debt during 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 Company and the finance companies with related
relationships or between the related parties
6. Contact between the finance companies that controlled by the Company and related parties
□ Applicable √ Not applicable
There are no deposits, loans, credits or other financial business between the finance companies that controlled by the Company and
related parties
26
7. Other significant related transactions
□ Applicable √ Not applicable
The company had no other significant related transactions in reporting period.
XII. Significant contract and implementations
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
No trusteeship for the Company in reporting period.
(2) Contract
□ Applicable √ Not applicable
No contract for the Company in reporting period.
(3) Leasing
√ Applicable □Not applicable
Explanation on leasing
Wuhan Hengfa Technology Co., Ltd entered into the storage area lease contract with TCL Air Conditioner (Wuhan) Co., Ltd due to
production and operation requirements. Leased 300 square meters warehouses for business use, the contract expires at end of 2023
and the Company exercised the right of first renewal in 2021. Relevant accounting treatment are recognized as Right-of-use assets
and Lease liability in line with the new leasing standards.
Projects that bring gain/loss to the Company accounting to 10% or more of the total profit for the reporting period
□ Applicable √ Not applicable
There was no leasing projects that bring gain/loss to the Company accounting to 10% or more of the total profit during the reporting
period
2. Major guarantees
√Applicable □ Not applicable
In 10 thousand Yuan
Particulars about the external guarantee of the Company (Barring the guarantee for subsidiaries)
Name of Related Actual Guarante
Actual Impleme
the Announc Guarante date of Guarante Counter Guarante e for
guarante Collatera nted
guarante
Compan ement e limit happenin e type l (if any) e term related
e limit e(if any) (Y/N)
y disclosur g party
27
guarante e date (Y/N)
ed
Joint and
several
liability N N
guarante
e
Guarantee to subsidiary by the Company
Name of
Related Guarante
the Actual
Announc Actual Impleme e for
Compan Guarante date of Guarante Counter Guarante
ement guarante Collatera nted related
guarante
y e limit happenin e type l (if any) e term
disclosur e limit e(if any) (Y/N) party
guarante g
e date (Y/N)
ed
Wuhan
Hengfa
Technol
ogy Co.,
Ltd
offering
a
counter-
guarante
e to
Wuhan Joint and Shenzhe
Hengfa several n
2022-04-
Technol 20,000 1,143.36 liability Zhonghe One year N Y
26
ogy Co., guarante ng
Ltd. e Huafa
Technol
ogy Co.,
Ltd
within
the
scope of
36
million
yuan
Total amount of
Total amount of
actual occurred
approving guarantee
20,000 guarantee for 3,633.3
for subsidiaries in
subsidiaries in report
report period (B1)
period (B2)
Total amount of Total balance of
approved guarantee actual guarantee for
for subsidiaries at 20,000 subsidiaries at the 1,143.36
the end of reporting end of reporting
period (B3) period (B4)
Guarantee of the subsidiaries for the subsidiaries
Name of Related Guarante Actual Actual Guarante Collatera Counter Guarante Complet Guarante
l (if any) guarante
28
the Announc e limit date of guarante e type e(if any) e term e e for
Compan ement happenin e limit impleme related
y disclosur g ntation party
guarante e date or not
ed
Total amount of guarantee of the Company (total of three above mentioned guarantee)
Total amount of Total amount of
approving guarantee actual occurred
20,000 3,633.3
in report period guarantee in report
(A1+B1+C1) period (A2+B2+C3)
Total amount of Total balance of
approved guarantee actual guarantee at
20,000 1,143.36
at the end of report the end of report
period (A3+B3+C2) period (A4+B4+C4)
The proportion of the total amount of
actually guarantee in the net assets of the 3.25%
Company (that is A4+ B4+C4)
Including:
Explanation on compound guarantee
3.Trust financing
□Applicable √Not applicable
No trust financing occurred in the reporting period
4. Other material contracts
□ Applicable √ Not applicable
No other material contracts for the Company in reporting period.
XIII. Explanation on other significant events
√ Applicable □ Not applicable
(1) The Company signed Asset Exchange Contract with Wuhan Zhongheng New Science & Technology
Industrial Group Co., Ltd (hereinafter referred to as Wuhan Zhongheng Group) on 29 April 2009 (details were
referred to in the announcement dated 30 April 2009), and pursuant to the contract, since part of the assets of the
Company (namely two parcel of industrial lands located at Huafa road, Gongming town, Guangming new district,
Shenzhen (the property certificate No. were SFDZ No.7226760 and SFDZ No.7226763, No. of parcels were
A627-005 andA627-007, and the aggregate area was 48,200 sq.m) were the lands listed in the first batch of plan
for 2010 Shenzhen urbanization unit planning preparation plan. For promotion of such urbanization project and
joint cooperation, the Company has not completed the transfer procedures in respect of the aforesaid land.
29
The Company convoked the first extraordinary meeting of the Board in 2015 on February 16, 2015 and the first
extraordinary general meeting of the Board in 2015 on March 4, 2015, which considered and approved the
“Motion on promoting and implementing the urban renewal project for the renewal units of Huafa area at
Gongming street, Guangming new district, Shenzhen”, specified that the Company and Wuhan Zhongheng Group
shall obtain the corresponding compensatory consideration for removal from the respectively owned project plots
and the respectively contributed and constructed above-ground buildings before the land development, it is
estimated that the compensatory consideration obtained by the Company accounts for 50.5% of the total
consideration and Wuhan Zhongheng Group accounts for 49.5% by calculation.
The sixth extraordinary meeting of the board of directors in 2015 and the third extraordinary general meeting of
2015 have considered and adopted the “Proposal on the project promotion and implementation of urban renewal
and the progress of related transactions of ‘the updated units at Huafa Area, Gong Ming Street, Guangming New
District, Shenzhen’”, the company has signed the “Agreement on the cooperation of urban renewal project of the
updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”, “Contract for the
cooperative venture of reconstruction project for Huafa Industrial Park, Gong Ming Street, Guangming New
District” on 26 August 2015, and “Agreement on housing acquisition and removal compensation and resettlement”
with Wuhan Wuhan Zhongheng Group, Shenzhen Vanke Real Estate Co., Ltd. (hereinafter referred to as
“Shenzhen Vanke”), and Shenzhen Vanke Guangming Real Estate Development Co., Ltd. (hereinafter referred to
as “Vanke Guangming”).
On 12 September 2016, Shenzhen Vanke applied for arbitration in respect of “Agreement on the cooperation of
urban renewal project of the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”
against the Company and Wuhan Zhongheng Group. Shenzhen Court of International Arbitration (SCIA) has
given a ruling in August 2017. On August 29, 2018, the court accepted the compulsory execution application of
Shenzhen Vanke. In October 2019, as a number of outsiders filed an “execution objection” and applied for “no
execution” to Shenzhen Intermediate People’s Court, the Shenzhen Intermediate People’s Court ruled to terminate
the enforcement procedure on March 20, 2020. If the “execution objection” and “no execution” proposed by
outsiders are rejected according to law, Shenzhen Vanke may continue to apply to the Shenzhen Intermediate
People’s Court to resume execution.
In April 2020, Zhongheng Semiconductor sued the company to Shenzhen Intermediate People’s Court, and
requested the company to transfer the above mentioned two pieces of lands and compensate the economic loss of
52 million yuan, the first and second trial judgments reject the Semiconductor’s appeal; Zhongheng
Semiconductor sued the Company and the invalid of “Agreement on the cooperation of urban renewal project of
the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen” signed by Wuhan
Zhongheng Group Company and Vanke, the second trial rejects all claims of Zhongheng Semiconductor. Progress
of the case found more in the Notices released on Juchao website dated 14 Sept. 2016, 1 Nov. 2016, 16 Nov. 2016,
on 18 Feb. 2017, 24 March 2017, 25 April 2017, 1 July 2017, 18 August 2017, 9 Feb. 2018, 25 Aug. 2018, 7 Sept.
30
2018, 21 Apr. 2020, 3 Jun, 2021, 22 Jul. 2021 and Mar. 5, 2022 respectively.
(2) On 31 December 2015, the 88,750,047 shares held by Wuhan Zhongheng Group, are pledge to China
Merchants Securities Assets Co., Ltd. with due date of 31 December 2016. On 1 Feb. 2016, Wuhan Zhongheng
Group pledge the 27,349,953 shares held to China Merchants Securities Assets Co., Ltd. with due date of 31
December 2016. The above-mentioned pledged shares are deferred by Wuhan Zhongheng Group; pledge expired
on 31 December 2017. The trading day for repurchase put off to the date when pledge actually removed. Till end
of this period released, controlling shareholder still not removed the pledge and the Company has apply by letter,
relevant Notice of Presentment on Stock Pledge from Controlling Shareholder was released. Found more in notice
released on Juchao website date 2 Feb. 2018.
In March 2021, Wuhan Zhongheng Group received the judgment on case of “pledged securities repurchase
dispute” brought by China Merchants Securities Assets Management Co., Ltd from High People’s Court of
Guangdong Province. Wuhan Zhongheng Group appealed to the Supreme People’s Court against the decision.
Found more in notice released on Juchao Website dated March 19, 2021.
(3) The controlling shareholder Wuhan Zhongheng Group holds 119,289,894 shares of the Company’ stock,
accounting for 42.13% of the total share capital of the Company, of which 116,489,894 shares were judicially
frozen by Shenzhen Intermediate People's Court (hereinafter referred to as "Shenzhen Intermediate Court") on
September 27, 2016, which were frozen again by the Shenzhen Intermediate People's Court on December 14,
2018, with a frozen period of 36 months; the remaining 2,800,000 shares were frozen by the Shenzhen
Intermediate People's Court on May 29, 2019, and were frozen again by the Higher People’s Court of Guangdong
Province on July 5, 2019. For details, please refer to the company’s announcements published on Juchao Website
dated October 27, 2016, January 11, 2019, May 31, 2019 and August 7, 2019.
(4) On September 29, 2016, the company and its controlling shareholder, Wuhan Zhongheng Group, signed the
“Agency Contract” with V&T Law Firm. On October 8, 2016, the three parties also signed the “Supplemental
Agreement for Agency Contract”, it was agreed that V&T acted as an agent for the company and Wuhan
Zhongheng Group to deal with the arbitration case with Shenzhen Vanke. After losing the lawsuit, due to
differences in the payment of attorney fees, V&T sued our company and Wuhan Zhongheng Group to the
Shenzhen Court of International Arbitration, and applied to the court to seize a bank account under our company’s
name and part of our company dormitories, please refer to “Other Announcements on the Progress Involving
Litigation and Arbitration” (Announcement Numbers: 2018-43, 2019-02) released on Juchao Website dated
November 14, 2018 and March 6, 2019. In November 2019, the Shenzhen Court of International Arbitration ruled
that the company and Wuhan Zhongheng Group paid the corresponding fees. According to the relevant agreement
of the “Entrusted Agency Contract” and “Supplementary Agreement” signed by the three parties, loss of the
ruling in the case shall be fully borne by Wuhan Zhongheng Group, therefore, it has no impact on the profit of the
31
Company. Found more on “Other Announcements on the Progress Involving Litigation and Arbitration”
(Announcement No.: 2019-34) released on Juchao Website dated November 25, 2019.
(5) Business of the Company - Styrofoam is a traditional manufacturing industry. The industry has stepping into
the maturity with severe overcapacity, the oversupply leads to a low gross margin and downward trend of
profitability of the Company’s products. The “proposal to shut down the Styrofoam business from wholly-owned
subsidiary” was deliberated and approved by the third interim meeting of BOD of 2022. Closure of the plant is
progressing steadily.
XIV. Significant event of subsidiary of the Company
□ Applicable √Not applicable
32
Section VII. Changes in Shares and Particulars about Shareholders
I. Changes in Share Capital
1. Changes in Share Capital
Unit: Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Public
New reserve
Proporti Bonus Proportio
Amount shares transfer Others Subtotal Amount
on shares n
issued into share
capital
I. Restricted shares 0 0.00% 0 0 0 0 0 0 0.00%
1. State-owned shares
2. State-owned legal
person’s shares
3. Other domestic shares
Including: Domestic
legal person’s shares
Domestic natural
person’s shares
4. Foreign shares
Including: Foreign legal
person’s shares
Foreign natural
person’s shares
II. Unrestricted shares 283,161,227 100.00% 0 0 0 0 0 283,161,227 100.00%
1. RMB ordinary shares 181,165,391 63.98% 0 0 0 0 0 181,165,391 63.98%
2. Domestically listed
101,995,836 36.02% 0 0 0 0 0 101,995,836 36.02%
foreign shares
3. Overseas listed foreign
shares
4. Others
III. Total shares 283,161,227 100.00% 0 0 0 0 0 283,161,227 100.00%
Reasons for share changed
□ Applicable √ Not applicable
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changed
□ Applicable √ Not applicable
33
Progress of shares buy-back
□ Applicable √ Not applicable
Implementation progress of reducing holdings of shares buy-back by centralized bidding
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
2. Changes of lock-up stocks
□ Applicable √ Not applicable
II. Securities issuance and listing
□ Applicable √ Not applicable
III. Amount of shareholders of the Company and particulars about shares holding
Unit: Share
Total preference shareholders with
Total common stock
voting rights recovered at end of
shareholders in reporting 24,938 0
reporting period (if applicable) (see note
period-end
8)
Particulars about common shares held above 5% by shareholders or top ten common shareholders
Amount of Information of shares
Amount of
Full name common Amount of pledged, tagged or frozen
Proportion Changes in common
of Nature of shares held restricted
of shares report shares held
Shareholde shareholder at the end common State of
held period without Amount
rs of reporting shares held share
restriction
period
Domestic
Wuhan non-state-
119,289,89 119,289,89 119,289,89
Zhongheng owned 42.13% 0 0 Frozen
4 4 4
Group legal
person
SEG
Overseas
(HONG
legal 5.85% 16,569,560 0 0 16,569,560
KONG)
person
CO., LTD.
GOOD
Overseas
HOPE
legal 2.50% 7,072,000 0 0 7,072,000
CORNER
person
INVESTM
34
ENTS
LTD.
Changjiang
Securities
Overseas
Brokerage
legal 1.89% 5,355,249 0 0 5,355,249
(Hong
person
Kong) Co.,
Ltd.
Guoyuan
Securities
Overseas
Brokerage
legal 1.37% 3,870,117 0 0 3,870,117
(Hong
person
Kong)
Limited
Overseas
Li
nature 1.00% 2,830,000 0 0 2,830,000
Zhongqiu
person
Domestic
Jin
nature 1,849,300 0 1,849,300
Guoping
person
Domestic
He Wei nature 1,818,319 0 1,818,319
person
Domestic
Yao Ming nature 1,577,300 0 1,577,300
person
Domestic
Li Wei nature 1,546,800 0 1,546,800
person
Strategy investor or
general legal person
becoming the top 10
N/A
common shareholders by
placing new shares (if
applicable) (see note 3)
Among the top ten shareholders, Li Zhongqiu is the actual controller of Wuhan Zhongheng New
Explanation on associated Science & Technology Industrial Group Co., Ltd. and is a party acting in concert. The Company
relationship among the neither knew whether there exists associated relationship among the other shareholders, nor they
aforesaid shareholders belong to consistent actors that are prescribed in Measures for the Administration of Disclosure of
Shareholder Equity Changes of Listed Companies.
Description of the above
shareholders in relation to
N/A
delegate/entrusted voting
rights and abstention from
35
voting rights.
Special note on the
repurchase account among
N/A
the top 10 shareholders (if
applicable) (see note 11)
Particular about top ten shareholders with un-lock up common stocks held
Type of shares
Shareholders’ name Amount of common shares held without restriction at Period-end
Type Amount
RMB
119,289,89
Wuhan Zhongheng Group 119,289,894 common
4
share
Domestical
SEG (HONG KONG) ly listed
16,569,560 16,569,560
CO., LTD. foreign
shares
Domestical
GOOD HOPE CORNER ly listed
7,072,000 7,072,000
INVESTMENTS LTD. foreign
shares
Domestical
Changjiang Securities
ly listed
Brokerage (Hong Kong) 5,355,249 5,355,249
foreign
Co., Ltd.
shares
Domestical
Guoyuan Securities
ly listed
Brokerage (Hong Kong) 3,870,117 3,870,117
foreign
Limited
shares
Domestical
ly listed
Li Zhongqiu 2,830,000 2,830,000
foreign
shares
RMB
Jin Guoping 1,849,300 common 1,849,300
share
Domestical
ly listed
He Wei 1,818,319 1,818,319
foreign
shares
Domestical
ly listed
Yao Ming 1,577,300 1,577,300
foreign
shares
Domestical
Li Wei 1,546,800 1,546,800
ly listed
36
foreign
shares
Expiation on associated
relationship or consistent
actors within the top 10 Among the top ten shareholders, Li Zhongqiu is the actual controller of Wuhan Zhongheng New
un-lock up common Science & Technology Industrial Group Co., Ltd. and is a party acting in concert. The Company
shareholders and between neither knew whether there exists associated relationship among the other shareholders, nor they
top 10 un-lock up belong to consistent actors that are prescribed in Measures for the Administration of Disclosure of
common shareholders and Shareholder Equity Changes of Listed Companies.
top 10 common
shareholders
Explanation on top 10
common shareholders Among the top ten shareholders, Jin Guoping holds 0 shares through regular securities account and
involving margin business 1,849,300 shares through credit securities account.
(if applicable) (see note 4)
Whether top ten common stock shareholders or top ten common stock shareholders with un-lock up shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-lock up shares held of the Company have no
buy-back agreement dealing in reporting period.
IV. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior executives have no changes in reporting period, found more details in Annual Report
2021.
V. Changes in controlling shareholders or actual controllers
Change of controlling shareholder during the reporting period
□ Applicable √ Not applicable
The Company had no change of controlling shareholder during the reporting period
Change of actual controller during the reporting period
□ Applicable √ Not applicable
The Company had no change of actual controller during the reporting period
37
Section VIII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the Period.
38
Section IX. Corporate Bonds
□ Applicable √ Not applicable
39
深圳中恒华发股份有限公司 2022 年半年度报告全文
Section X. Financial Report
I. Audit report
Whether the semi annual report is audited
□ Yes √ No
The company's semi annual financial report has not been audited
II. Financial Statement
Statement in Financial Notes are carried Unit: RMB/CNY/CNY
1. Consolidated Balance Sheet
Prepared by SHENZHEN ZHONGHENG HUAFA CO., LTD.
Unit: RMB/CNY
Item June 30, 2022 January 1, 2022
Current assets:
Monetary funds 75,664,614.16 34,426,043.11
Settlement provisions
Capital lent
Trading financial assets
Derivative financial assets
Note receivable 60,827,292.54 105,922,317.60
Account receivable 133,872,767.55 128,675,327.97
Receivable financing 500,000.00
Accounts paid in advance 19,963,828.94 7,996,570.95
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Other account receivable 4,628,853.27 4,520,412.70
Including: Interest receivable
Dividend receivable
Buying back the sale of financial assets
Inventories 66,100,631.11 90,585,670.27
Contractual assets
Assets held for sale
Non-current asset due within one year
Other current assets 105,743.48 3,732,033.86
Total current assets 361,163,731.05 376,358,376.46
Non-current assets:
40
深圳中恒华发股份有限公司 2022 年半年度报告全文
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment
Investment in other equity instrument
Other non-current financial assets
Investment real estate 45,327,612.66 46,191,777.80
Fixed assets 183,280,126.25 187,889,261.50
Construction in progress 740,000.00 740,000.00
Productive biological asset
Oil and gas asset
Right-of-use assets 156,974.04 209,298.72
Intangible assets 38,310,208.33 39,171,573.09
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned 1,528,018.90 1,691,257.89
Deferred income tax asset 7,645,824.11 7,681,680.11
Other non-current asset
Total non-current asset 276,988,764.29 283,574,849.11
Total assets 638,152,495.34 659,933,225.57
Current liabilities:
Short-term loans 11,433,573.00 26,480,857.00
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable 22,605,511.76 21,554,981.30
Account payable 95,152,390.13 88,529,478.96
Accounts received in advance
Contractual liability 273,518.20 736,355.70
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable 4,427,543.85 3,844,381.07
Taxes payable 14,566,092.54 14,657,117.69
Other account payable 40,932,188.01 30,448,913.14
Including: Interest payable 93,178.03 113,080.26
Dividend payable
Commission charge and commission payable
Reinsurance payable
Liability held for sale
41
深圳中恒华发股份有限公司 2022 年半年度报告全文
Non-current liabilities due within one year 55,104,400.61 61,104,400.61
Other current liabilities 37,185,847.90 64,644,280.61
Total current liabilities 281,681,066.00 312,000,766.08
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability 86,325.75 115,101.00
Long-term account payable
Long-term wages payable
Accrual liability 801,159.18 801,159.18
Deferred income 3,326,520.00 3,565,560.00
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 4,214,004.93 4,481,820.18
Total liabilities 285,895,070.93 316,482,586.26
Owner’s equity:
Share capital 283,161,227.00 283,161,227.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve 146,577,771.50 146,577,771.50
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 77,391,593.25 77,391,593.25
Provision of general risk
Retained profit -154,873,167.34 -163,679,952.44
Total owner’ s equity attributable to parent company 352,257,424.41 343,450,639.31
Minority interests
Total owner’ s equity 352,257,424.41 343,450,639.31
Total liabilities and owner’ s equity 638,152,495.34 659,933,225.57
Legal Representative: Li Zhongqiu
Person in charge of accounting works: Chen Zhigang
Person in charge of accounting institute: Chuai Guoxu
2. Balance Sheet of Parent Company
Unit: RMB/CNY
42
深圳中恒华发股份有限公司 2022 年半年度报告全文
Item June 30, 2022 January 1, 2022
Current assets:
Monetary funds 819,726.82 619,099.39
Trading financial assets
Derivative financial assets
Note receivable
Account receivable
Receivable financing
Accounts paid in advance 402,189.53 52,129.33
Other account receivable 95,039,705.78 92,468,697.71
Including: Interest receivable
Dividend receivable
Inventories 14,806.50 14,806.50
Contractual assets
Assets held for sale
Non-current assets maturing within one year
Other current assets
Total current assets 96,276,428.63 93,154,732.93
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 186,618,400.00 186,618,400.00
Investment in other equity instrument
Other non-current financial assets
Investment real estate 22,840,740.28 23,444,941.60
Fixed assets 96,561,485.97 96,839,357.63
Construction in progress 740,000.00 740,000.00
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 4,191,344.94 4,263,817.80
Research and development costs
Goodwill
Long-term deferred expenses 969,444.45 969,444.45
Deferred income tax assets 7,555,266.74 7,555,266.74
Other non-current assets
Total non-current assets 319,476,682.38 320,431,228.22
Total assets 415,753,111.01 413,585,961.15
Current liabilities:
Short-term borrowings
Trading financial liability
Derivative financial liability
43
深圳中恒华发股份有限公司 2022 年半年度报告全文
Notes payable
Account payable 10,745,840.16 10,745,840.16
Accounts received in advance
Contractual liability 269,268.20 263,321.38
Wage payable 939,175.02 1,209,937.19
Taxes payable 7,802,338.58 9,236,248.86
Other accounts payable 23,797,881.84 21,695,466.51
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due within one year 55,000,000.00 61,000,000.00
Other current liabilities 13,859.02
Total current liabilities 98,554,503.80 104,164,673.12
Non-current liabilities:
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long term employee compensation payable
Accrued liabilities 801,159.18 801,159.18
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 801,159.18 801,159.18
Total liabilities 99,355,662.98 104,965,832.30
Owners’ equity:
Share capital 283,161,227.00 283,161,227.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve 146,587,271.50 146,587,271.50
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve 77,391,593.25 77,391,593.25
Retained profit -190,742,643.72 -198,519,962.90
Total owner’s equity 316,397,448.03 308,620,128.85
Total liabilities and owner’s equity 415,753,111.01 413,585,961.15
44
深圳中恒华发股份有限公司 2022 年半年度报告全文
3. Consolidated Profit Statement
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Total operating income 354,146,920.81 391,633,808.55
Including: Operating income 354,146,920.81 391,633,808.55
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 347,992,076.14 381,924,442.73
Including: Operating cost 311,845,943.49 334,523,805.25
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract
reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras 2,051,860.11 1,428,361.92
Sales expense 9,503,158.57 14,094,617.96
Administrative expense 17,627,621.80 22,680,307.24
R&D expense 5,022,675.55 3,955,647.50
Financial expense 1,940,816.62 5,241,702.86
Including: Interest expenses 2,729,221.86 3,774,381.48
Interest income -88.74 189,945.55
Add: Other income 4,515,323.81 3,553.35
Investment income (Loss is listed with “-”) 180,088.19 149,767.58
Including: Investment income on affiliated company and
joint 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 value (Loss is listed with “-”)
Loss of credit impairment (Loss is listed with “-”)
Losses of devaluation of asset (Loss is listed with “-”) 0.00 -1,350,000.00
Income from assets disposal (Loss is listed with “-”) 789,308.26
III. Operating profit (Loss is listed with “-”) 11,639,564.93 8,512,686.75
Add: Non-operating income 40,574.92 276,599.04
Less: Non-operating expense 15,308.31 215,202.92
IV. Total profit (Loss is listed with “-”) 11,664,831.54 8,574,082.87
Less: Income tax expense 2,858,046.44 1,584,720.39
45
深圳中恒华发股份有限公司 2022 年半年度报告全文
V. Net profit (Net loss is listed with “-”) 8,806,785.10 6,989,362.48
(i) Classify by business continuity
1.continuous operating net profit (net loss listed with ‘-”) 8,806,785.10 6,989,362.48
2.termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s of parent company 8,806,785.10 6,989,362.48
2.Minority shareholders’ gains and losses
VI. Net after-tax of other comprehensive income
Net after-tax of other comprehensive income attributable to
owners of parent company
(I) Other comprehensive income items which will not be
reclassified subsequently to profit of loss
1.Changes of the defined benefit plans that re-
measured
2.Other comprehensive income under equity method
that cannot be transfer to gain/loss
3.Change of fair value of investment in other equity
instrument
4.Fair value change of enterprise's credit risk
5. Other
(ii) Other comprehensive income items which will be
reclassified 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 8,806,785.10 6,989,362.48
Total comprehensive income attributable to owners of parent
8,806,785.10 6,989,362.48
Company
Total comprehensive income attributable to minority
shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0311 0.0248
(ii) Diluted earnings per share 0.0311 0.0248
As for the enterprise combined under the same control, net profit of 0 Yuan achieved by the merged party before combination
46
深圳中恒华发股份有限公司 2022 年半年度报告全文
while 0 Yuan achieved last period.
Legal Representative: Li Zhongqiu
Person in charge of accounting works: Chen Zhigang
Person in charge of accounting institute: Chuai Guoxu
4. Profit Statement of Parent Company
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Operating income 24,122,414.00 22,146,204.31
Less: Operating cost 4,518,020.17 4,439,887.16
Taxes and surcharge 590,485.14 572,280.19
Sales expenses
Administration expenses 6,887,075.97 7,444,373.84
R&D expenses
Financial expenses 2,812,875.27 3,381,988.26
Including: Interest expenses 2,812,961.00 52,129.33
Interest income -88.74
Add: Other income 4,085.02 3,306.96
Investment income (Loss is 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 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 “-”) 254,400.00
II. Operating profit (Loss is listed with “-”) 9,572,442.47 6,310,981.82
Add: Non-operating income 22,167.01 0.35
Less: Non-operating expense 240.23 8,500.00
III. Total Profit (Loss is listed with “-”) 9,594,369.25 6,302,482.17
Less: Income tax 1,817,050.07 1,236,934.73
IV. Net profit (Net loss is listed with “-”) 7,777,319.18 5,065,547.44
(i) continuous operating net profit (net loss listed with ‘-”) 7,777,319.18 5,065,547.44
(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-
47
深圳中恒华发股份有限公司 2022 年半年度报告全文
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 reserve
6.Translation differences arising on translation of
foreign currency financial statements
7.Other
VI. Total comprehensive income 7,777,319.18 5,065,547.44
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
296,973,278.94 244,756,106.28
services
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
Net increase of capital borrowed from other financial
institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Net increase of insured savings and investment
Cash received from interest, commission charge and
commission
Net increase of capital borrowed
Net increase of returned business capital
48
深圳中恒华发股份有限公司 2022 年半年度报告全文
Net cash received by agents in sale and purchase of securities
Write-back of tax received 2,582,436.42 2,152,394.35
Other cash received concerning operating activities 13,894,131.24 16,266,093.74
Subtotal of cash inflow arising from operating activities 313,449,846.60 263,174,594.37
Cash paid for purchasing commodities and receiving labor
174,717,587.41 180,586,052.16
service
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Net increase of capital lent
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 30,684,125.76 38,342,263.84
Taxes paid 18,183,319.71 13,863,743.82
Other cash paid concerning operating activities 40,144,591.34 52,200,904.14
Subtotal of cash outflow arising from operating activities 263,729,624.22 284,992,963.96
Net cash flows arising from operating activities 49,720,222.38 -21,818,369.59
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 180,088.19 186,685.90
Net cash received from disposal of fixed, intangible and other
3,855,290.26 21,750.00
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities 57,000,000.00
Subtotal of cash inflow from investing activities 61,035,378.45 208,435.90
Cash paid for purchasing fixed, intangible and other long-term
1,682,052.83 2,524,810.50
assets
Cash paid for investment
Net increase of mortgaged loans 0.00
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities 57,000,000.00
Subtotal of cash outflow from investing activities 58,682,052.83 2,524,810.50
Net cash flows arising from investing activities 2,353,325.62 -2,316,374.60
III. Cash flows arising from financing activities:
Cash received from absorbing investment
Including: Cash received from absorbing minority
shareholders’ investment by subsidiaries
Cash received from loans 18,332,990.00 57,190,879.00
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities 18,332,990.00 57,190,879.00
Cash paid for settling debts 39,754,209.00 30,430,404.00
Cash paid for dividend and profit distributing or interest
3,036,885.11 3,578,255.11
paying
49
深圳中恒华发股份有限公司 2022 年半年度报告全文
Including: Dividend and profit of minority shareholder paid by
subsidiaries
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities 42,791,094.11 34,008,659.11
Net cash flows arising from financing activities -24,458,104.11 23,182,219.89
IV. Influence on cash and cash equivalents due to fluctuation in
263,652.23 -403,343.06
exchange rate
V. Net increase of cash and cash equivalents 27,879,096.12 -1,355,867.36
Add: Balance of cash and cash equivalents at the period -begin 32,802,562.90 60,968,053.58
VI. Balance of cash and cash equivalents at the period -end 60,681,659.02 59,612,186.22
6. Cash Flow Statement of Parent Company
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
14,657,628.10 2,336,572.26
services
Write-back of tax received 0.00 0.00
Other cash received concerning operating activities 404,017.91 12,794,492.62
Subtotal of cash inflow arising from operating activities 15,061,646.01 15,131,064.88
Cash paid for purchasing commodities and receiving labor
service
Cash paid to/for staff and workers 555,796.92 548,093.93
Taxes paid 5,094,652.76 3,454,113.92
Other cash paid concerning operating activities 398,328.69 1,380,064.32
Subtotal of cash outflow arising from operating activities 6,048,778.37 5,382,272.17
Net cash flows arising from operating activities 9,012,867.64 9,748,792.71
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income
Net cash received from disposal of fixed, intangible and other
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities
Cash paid for purchasing fixed, intangible and other long-term
assets
Cash paid for investment
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities
Net cash flows arising from investing activities
50
深圳中恒华发股份有限公司 2022 年半年度报告全文
III. Cash flows arising from financing activities:
Cash received from absorbing investment
Cash received from loans
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities
Cash paid for settling debts 6,000,000.00 6,000,000.00
Cash paid for dividend and profit distributing or interest paying 2,812,240.21 3,383,290.96
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities 8,812,240.21 9,383,290.96
Net cash flows arising from financing activities -8,812,240.21 -9,383,290.96
IV. Influence on cash and cash equivalents due to fluctuation in
-1,509.10 0.00
exchange rate
V. Net increase of cash and cash equivalents 199,118.33 365,501.75
Add: Balance of cash and cash equivalents at the period -begin 526,531.11 966,379.17
VI. Balance of cash and cash equivalents at the period -end 725,649.44 1,331,880.92
7. Statement of Changes in Owners’ Equity (Consolidated)
Current Amount
Unit: RMB/CNY
2022 semi-annual
Owners’ equity attributable to the parent Company
Other
equity
Othe
instrument Less Tota
r Prov
Per : Reas Min l
Sha Capi com Surp ision Reta
Item 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
283 -
146, 77,3 343, 343,
I. The ending ,16 163,
577, 91,5 450, 450,
balance of the 1,2 679,
771. 93.2 639. 639.
previous year 27. 952.
50 5 31 31
00 44
Add: Changes
of accounting
policy
Error
correction of
the last period
51
深圳中恒华发股份有限公司 2022 年半年度报告全文
Enterprise
combine
under the
same control
Other
283 -
II. The 146, 77,3 343, 343,
,16 163,
beginning 577, 91,5 450, 450,
1,2 679,
balance of the 771. 93.2 639. 639.
27. 952.
current year 50 5 31 31
00 44
III. Increase/
Decrease in
8,80 8,80 8,80
the period
6,78 6,78 6,78
(Decrease is
5.10 5.10 5.10
listed with “-
”)
(i) Total 8,80 8,80 8,80
comprehensiv 6,78 6,78 6,78
e income 5.10 5.10 5.10
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
shareholders
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned into
owners equity
with share-
based
payment
4. Other
(iii) Profit
distribution
1. Withdrawal
of surplus
reserves
52
深圳中恒华发股份有限公司 2022 年半年度报告全文
2. Withdrawal
of general
risk
provisions
3.
Distribution
for owners (or
shareholders)
4. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus
reserve
4. 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
53
深圳中恒华发股份有限公司 2022 年半年度报告全文
in the report
period
2. Usage in
the report
period
(vi) Others
283 -
146, 77,3 352, 352,
IV. Balance at ,16 154,
577, 91,5 257, 257,
the end of the 1,2 873,
771. 93.2 424. 424.
period 27. 167.
50 5 41 41
00 34
Amount of the previous period
Unit: RMB/CNY
2021 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 Pr Inve onab rity
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
283 -
I. The ending 146, 77,3 336,
,16 170, 336,2
balance of 577, 91,5 248,
1,2 881, 48,73
the previous 771. 93.2 737.
27. 854. 7.29
year 50 5 29
00 46
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Enterprise
combine
54
深圳中恒华发股份有限公司 2022 年半年度报告全文
under the
same control
Other
II. The 283 -
146, 77,3 336,
beginning ,16 170, 336,2
577, 91,5 248,
balance of 1,2 881, 48,73
771. 93.2 737.
the current 27. 854. 7.29
50 5 29
year 00 46
III. Increase/
Decrease in
6,98 6,98 6,989
the period
9,36 9,36 ,362.
(Decrease is
2.48 2.48 48
listed with “-
”)
(i) Total 6,98 6,98 6,989
comprehensi 9,36 9,36 ,362.
ve income 2.48 2.48 48
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
shareholders
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned into
owners
equity with
share-based
payment
4. Other
(iii) Profit
distribution
1.
Withdrawal
of surplus
reserves
2.
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深圳中恒华发股份有限公司 2022 年半年度报告全文
Withdrawal
of general
risk
provisions
3.
Distribution
for owners
(or
shareholders)
4. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3.
Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings
from the
defined
benefit plans
5. Carry-over
retained
earnings
from other
comprehensi
ve income
6. Other
(v)
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深圳中恒华发股份有限公司 2022 年半年度报告全文
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(vi) Others
283 -
146, 77,3 343,
IV. Balance ,16 163, 343,2
577, 91,5 238,
at the end of 1,2 892, 38,09
771. 93.2 099.
the period 27. 491. 9.77
50 5 77
00 98
8. Statement of Changes in Owners’ Equity (Parent Company)
Current Amount
Unit: RMB/CNY
2022 semi-annual
Other
equity instrument Other
Perp Capita Less: compr Reaso Surplu Retai
Share Total
Item etual l Invent ehensi nable s ned
capit Prefe Other owners’
capit Othe reserv ory ve reserv reserv profi
al rred equity
al r e shares incom e e t
stock
secur e
ities
-
I. The ending 283,1 146,58 77,391 198,
308,620,
balance of the 61,22 7,271. ,593.2 519,
128.85
previous year 7.00 50 5 962.
90
Add:
Changes of
accounting
policy
Error
correction of
the last period
Other
II. The 283,1 146,58 77,391 - 308,620,
beginning 61,22 7,271. ,593.2 198, 128.85
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深圳中恒华发股份有限公司 2022 年半年度报告全文
balance of the 7.00 50 5 519,
current year 962.
90
III. Increase/
Decrease in 7,77
7,777,31
the period 7,31
9.18
(Decrease is 9.18
listed with “-”)
(i) Total 7,77
7,777,31
comprehensive 7,31
9.18
income 9.18
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
shareholders
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned into
owners equity
with share-
based payment
4. Other
(iii) Profit
distribution
1. Withdrawal
of surplus
reserves
2. Distribution
for owners (or
shareholders)
3. Other
(iv) Carrying
forward
internal
owners’ equity
1. Capital
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深圳中恒华发股份有限公司 2022 年半年度报告全文
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4. Carry-over
retained
earnings from
the defined
benefit plans
5. Carry-over
retained
earnings from
other
comprehensive
income
6. Other
(v) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
(vi) Others
-
IV. Balance at 283,1 146,58 77,391 190,
316,397,
the end of the 61,22 7,271. ,593.2 742,
448.03
period 7.00 50 5 643.
72
Amount of the previous period
Unit: RMB/CNY
2021 semi-annual
Shar Other Capit Less: Other Surpl
Reason Total
Item e equity instrument al Invent compr us Retaine
able Other owners’
capit Pref Perp Othe reserv ory ehensi reserv d profit
reserve equity
al erre etual r e shares ve e
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深圳中恒华发股份有限公司 2022 年半年度报告全文
d capit incom
stoc al e
k secu
ritie
s
283, -
I. The ending 146,5 77,39
161, 206,88 300,252,
balance of the 87,27 1,593
227. 7,603.6 488.06
previous year 1.50 .25
00 9
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Other
II. The 283, -
146,5 77,39
beginning 161, 206,88 300,252,
87,27 1,593
balance of the 227. 7,603.6 488.06
1.50 .25
current year 00 9
III. Increase/
Decrease in
the period 5,065,5 5,065,54
(Decrease is 47.44 7.44
listed with “-
”)
(i) Total
5,065,5 5,065,54
comprehensiv
47.44 7.44
e income
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
shareholders
2. Capital
invested by
holders of
other equity
instruments
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深圳中恒华发股份有限公司 2022 年半年度报告全文
3. Amount
reckoned into
owners equity
with share-
based
payment
4. Other
(iii) Profit
distribution
1.
Withdrawal
of surplus
reserves
2.
Distribution
for owners
(or
shareholders)
3. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings from
the defined
benefit plans
5. Carry-over
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深圳中恒华发股份有限公司 2022 年半年度报告全文
retained
earnings from
other
comprehensiv
e income
6. Other
(v)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(vi) Others
283, -
IV. Balance 146,5 77,39
161, 201,82 305,318,
at the end of 87,27 1,593
227. 2,056.2 035.50
the period 1.50 .25
00 5
III. Company profile
1. The registration place of the enterprise, the form of organization and the headquarters address
Shenzhen Zhongheng HUAFA Company Limited (hereinafter referred to as Company or the Company),
established on 8 December 1981. Uniform social credit code 91440300618830372G.
Registered place and head office of the Company: 411 Bldg., Huafa (N) Road, Futian District, Shenzhen
Legal representative: Li Zhongqiu
Registered capital: RMB 283,161,227.00
2. The nature of the business and the main business activities.
The Company belongs to the computer, telecommunication and manufacturing of other electronic equipment.
Business scope: producing and sales of vary color TV set, liquid crystal display, LCD (operates in branch), radio-
recorder, sound equipment, electronic watch, electronic game and computers, the printed wiring board, precision
injection parts, light packaging material (operates in Wuhan) and hardware (including tool and mould) for various
electronic products and supporting parts, plating and surface treatment and tin wire, development and operation of
real estate (Shen Fang Di Zi No.: 7226760) and property management. Funded affiliated companies in Wuhan and
Jilin. Setting up branches in capital of the province (Lhasa City excluded) in China and municipality directly
under the central government.
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深圳中恒华发股份有限公司 2022 年半年度报告全文
3. Relevant party offering approval reporting of financial statements and date thereof
The financial statement has been deliberated and approved by BOD on August 20, 2022.
Main subsidiaries included in the consolidate scope of the statement found in Note VIII-Equity in other subjects
IV. Preparation basis of Financial Statements
1. Preparation basis
Base on the running continuously and actual transactions and events, in line with the Accounting Standards for
Business Enterprise – Basic Standards and specific principle of accounting standards issued by the Ministry of
Finance (hereinafter collectively referred to as Accounting Standards for Business Enterprise), the Company
prepared and formulate the financial statement lies on the followed important accounting policy and estimation.
2. Going concern
The Company expects that the production and sales will be in a virtuous cycle within 12 months from the end of
he reporting period, and there is no risk that affects the continued operations.
V. Important accounting policy and estimation
Notes on specific accounting policies and accounting estimation:
The following disclosure has covered the specific accounting policies and accounting estimates formulated by the
Company according to the actual production and operation characteristics.
1. Declaration of obedience to Accounting Standards for Business Enterprise
The Financial Statements of the Company are up to requirements of Accounting Standards for Business
Enterprise and also a true and thorough reflection to the relevant information as the Company’s financial position
dated 30th June 2022 and the operation results as well as cash flow from January to June of 2022.
2. Accounting period
The Company’s accounting year is Gregorian calendar year, namely from 1st January to 31st December of every
year.
3. Business cycle
The Company’s business cycle is one year (12 months) as a normal cycle, and the business cycle is the
determining criterion for the liquidity of assets and liabilities of the Company.
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深圳中恒华发股份有限公司 2022 年半年度报告全文
4. Bookkeeping standard currency
The Renminbi (RMB) is taken as the book-keeping standard currency.
5. Accounting methods for consolidation of enterprises under the same control or otherwise
5.1 Consolidation of enterprises under the same control
Where the Company for long term equity investment arising from business combination under common control
satisfies the combination consideration by payment of cash, transfer of non-cash assets or assumption of debt, the
carrying value of the net assets of the acquire in combined financial statement of the ultimate controller shared by
the Company as at the combination date shall be deemed as the initial investment cost of such long term equity
investment. If the equity instrument issued by combining party are consider as the combination consideration,
than the total value of the issuing shares are consider as the share capital. The difference between the initial cost
of long-term equity investment and book value of consideration (or total face value of the shares issued) paid,
capital surplus adjusted; if the capital surplus not enough to written down, than retained earning adjusted.
5.2 Business combination not under common control
As for business combination not under common control, combination costs refer to the sum of the fair value of the
assets paid, liabilities occurred or assumed as well as equity securities issued by the acquirer to obtain control over
the acquire as at the acquisition date. As for acquiree that obtained by consolidation not under the same control,
the qualified confirmation of identified assets, liability and contingency liabilities should calculated by fair value
on day of purchased. If the consolidation cost larger than the fair value amount of identified net assets from
acquiree’s, the differences should be recognized as goodwill. If the consolidation cost less than the fair value
amount of identified net assets from acquiree’s, the differences should reckoned into current non-operating
income.
6. Preparation methods for consolidated financial statements
6.1 Consolidation financial statement range
The Company includes all the subsidiaries (including the separate entities controlled by the Company) into
consolidated financial statement, including companies controlled by the Company, non-integral part of the
investees and structural main body.
6.2 Centralize accounting policies, balance sheet dates and accounting periods of parent and subsidiaries.
As for the inconsistency between the subsidiaries and the Company in the accounting policies and periods, the
necessary adjustment is made on the subsidiaries’ financial statements in the preparation of the consolidated
financial statements according to the Company’s accounting policies and periods.
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深圳中恒华发股份有限公司 2022 年半年度报告全文
6.3 Offset of consolidated financial statement
The consolidated financial statements shall be prepared on the basis of the balance sheet of the parent company
and subsidiaries, which offset the internal transactions incurred between the parent company and subsidiaries and
within subsidiaries. The owner’s equity of the subsidiaries not attributable to the parent company shall be
presented as minority equity under the owner’s equity item in the consolidated balance sheet. The long term
equity investment of the parent company held by the subsidiaries, deemed as treasury stock of the corporate group
as well as the reduction of owners’ equity, shall be presented as “Less: treasury stock” under the owners’ equity
item in the consolidated balance sheet.
6.4Accounting for acquisition of subsidiary through combination
For subsidiaries acquired under enterprise merger involving enterprises under common control, the assets,
liabilities, operating results and cash flows of the subsidiaries are included in the consolidated financial statements
from the beginning of the financial year in which the combination took place. When preparing the
consolidated financial statements, for the subsidiaries acquired from business combination not involving
entities under common control, the identifiable net assets of the subsidiaries are adjusted on the basis of their fair
values on the date of acquisition.
6.5 Accounting treatment of disposal subsidiaries
In the case of partial disposal of long-term equity investments in subsidiaries without loss of control, in the
consolidated financial statements, the difference between the disposal price and the net asset share corresponding
to the disposal of long-term equity investments and enjoying the subsidiaries’ continued calculation from the
purchase date or the merger date is used to adjust the capital reserve (capital premium or equity premium). If the
capital reserve is insufficient to offset, the retained earnings are adjusted.
7. Determination criteria of cash and cash equivalent
The cash recognized in the preparation of the cash flow statements, is the Company’s storage cash and deposits
available for payment anytime. The cash equivalents recognized in the preparation of the cash flow statements
refers to the investment held by the Company with characteristic of short-term, strong mobility, easy transfer to
known sum cash and has slim risk from value changes.
8. Foreign currency exchange and the conversion of foreign currency statements
8.1 Foreign currency exchange
The approximate exchange rate of the spot exchange rate on transaction occurred should be used for standard
money conversion while foreign currency exchange occurred On the balance sheet day, the monetary items are
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深圳中恒华发股份有限公司 2022 年半年度报告全文
converted on the current rate on the balance sheet day, concerning the exchange differences between the spot
exchange rate on that date and initial confirmation or the sport exchange rate on previously balance sheet date,
should reckoned in to current gains/losses except the capitalizing on exchange differences for foreign specific
loans, which was reckoned into cost for capitalizing. The non-monetary items measured on the historic cost are
still measured by the original bookkeeping rate with the sum of the bookkeeping standard currency unchanged.
Items of non-monetary foreign currency which was calculated by fair value, should converted by spot exchange
rate on the confirmation day of fair value, difference between the converted amount of bookkeeping currency and
original amount of bookkeeping currency, was treated as changes of fair value (including exchange rate changed)
reckoned into current gains/losses or recognized as other consolidated income.
8.2 Conversion of foreign currency financial statements
Upon the conversion of the foreign currency financial statements of the controlling subsidiaries, joint enterprises,
and the affiliated enterprises on the bookkeeping standard currency different from the Company’s, the accounting
check and preparation of the consolidated financial statements are made. Assets and liabilities items in the balance
sheet are converted on the current rate on the balance sheet day; owners’ equity items besides the “retained profit”
item, the other items are converted on the actual rate. Items of revenue and expenses in profit statement, should
converted by the approximate exchange rate of spot exchange rate on occurring date. The conversion difference of
the foreign currency financial statements is listed specifically in the owners’ equity in the balance sheet. If the
foreign cash flow determined by rational system method, the approximate exchange rate of spot exchange rate on
occurring date should prevail. The cash influenced by the rate fluctuation is listed specifically in the cash flow
statement. As for the foreign operation, the conversion difference of the foreign currency statement related to the
foreign operation is transferred in proportion into the disposal of the current loss/gain.
9. Financial instrument
9.1 Category and recognition of financial instrument
Financial instrument is the contract that taken shape of the financial asses for an enterprise and of the financial
liability or equity instrument for other units.
(1) Financial assets
The Company classifies financial assets that meet the following conditions as financial assets measured at
amortized cost: ① The Company’s business model for managing financial assets is to collect contractual cash
flows as its goal; ② The contractual terms of the financial assets stipulate that the cash flow generated on a
specific date is only the payment of principal and interest based on the outstanding principal amount.
For investment in non-trading equity instruments, the Company may irrevocably designate it as a financial asset
measured at fair value and its changes included in other comprehensive income at initial recognition. The
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深圳中恒华发股份有限公司 2022 年半年度报告全文
designation is made on the basis of a single investment, and the relevant investment meets the definition of equity
instruments from the perspective of the issuer.
Except for financial assets classified as financial assets measured at amortized cost and financial assets measured
at fair value and whose changes are included in other comprehensive income, the Company classifies the financial
assets as financial assets measured at fair value and whose changes are included in current profit or loss. At the
initial recognition, if the accounting mismatch can be eliminated or reduced, the Company can irrevocably
designate the financial asset as a financial asset measured at fair value and its changes are included in the current
profit and loss.
(2) Financial liabilities
Financial liabilities are classified as financial liabilities measured at fair value and whose changes are included in
the current profit or loss, financial liabilities formed by the transfer of financial assets that does not meet the
conditions for derecognition or continues to be involved in the transferred financial assets, and financial liabilities
measured at amortized cost at initial recognition. All financial liabilities are not reclassified.
9.2 Measurement of financial instruments
The initial recognition of the Company’s financial instruments is measured at fair value. For financial assets and
financial liabilities measured at fair value and whose changes are included in the current profit and loss, the
related transaction costs are directly included in the current profit and loss; for other types of financial assets or
financial liabilities, the related transaction costs are included in the initial recognition amount. For the accounts
receivable or bills receivable arising from the sale of products or the provision of labor services, not containing or
not considering significant financing components, the Company shall use the amount of consideration expected to
be received as the initial recognition amount. The subsequent measurement of financial instruments depends on
their classification.
(1) Financial assets
① Financial assets measured at amortized cost. After initial recognition, such financial assets are measured at
amortized cost by using the effective interest method. Gains or losses arising from financial assets that are
measured at amortized cost and do not belong to any hedging relationship are included in the current profit or loss
when they are derecognized, reclassified, amortized in accordance with the effective interest rate method, or
recognized for impairment.
② Financial assets measured at fair value and whose changes are included in the current profit and loss. After
initial recognition, for such financial assets (except for a part of financial assets that belong to the hedging
relationship), the fair value is used for subsequent measurement, and the resulting gains or losses (including
interest and dividend income) are included in the current profit and loss.
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深圳中恒华发股份有限公司 2022 年半年度报告全文
③ Investment in debt instruments measured at fair value and whose changes are included in other comprehensive
income. After initial recognition, the subsequent measurement of such financial assets is conducted at fair value.
Interest, impairment losses or gains calculated by using the effective interest rate method and the exchange gains
and losses are included in the current profit and loss, and other gains or losses are included in other
comprehensive income. In derecognition, the accumulated gains or losses previously included in other
comprehensive income are transferred out of other comprehensive income and included in the current profit and
loss.
(2) Financial liabilities
① Financial liabilities measured at fair value and whose changes are included in the current profit and loss. Such
financial liabilities include trading financial liabilities (including derivatives that belong to financial liabilities)
and financial liabilities designated to be measured at fair value and whose changes are included in the current
profit and loss. After initial recognition, the subsequent measurement of such financial liabilities is at fair value,
except for those related to hedge accounting, gains or losses (including interest expenses) resulting from changes
in the fair value of trading financial liabilities are included in the current profit and loss. If a financial liability
designated to be measured at fair value and whose changes are included in the current profit or loss, the amount of
change in the fair value of the financial liability caused by changes in the enterprise’s own credit risk is included
in other comprehensive income, other changes in fair value are included in the current profit and loss. If the
impact of changes in the financial liability’s own credit risk included in other comprehensive income causes or
expands the accounting mismatch in profit or loss, the Company will include all gains or losses on the financial
liability in the current profit and loss.
② Financial liabilities measured at amortized cost. After initial recognition, such financial liabilities are measured
at amortized cost by using the effective interest method.
9.3 The Company’s methods for confirming the fair value of financial instruments
If the financial instrument has an active market, the fair value is determined by the quoted price in the active
market; if the financial instrument doesn’t have an active market, the fair value is determined by adopting the
valuation technique. Valuation techniques mainly include market approach, income approach and cost approach.
In limited circumstances, if the recent information used to determine fair value is insufficient, or the range of
possible estimated amounts of fair value is widely distributed, and the cost represents the best estimate of fair
value within this range, the cost may represent the appropriate estimates of fair value within this distribution range.
The Company uses all information on the performance and operation of the investee gettable after the initial
recognition date to determine whether the cost represents the fair value or not.
9.4 Confirmation basis and measurement method for the transfer of liabilities of financial assets
(1)Financial assets
If the Company’s financial asset meets one of the following conditions, it shall be terminated for confirmation: ①
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深圳中恒华发股份有限公司 2022 年半年度报告全文
The contract right to receive the cash flow of the financial asset is terminated; ② The financial asset has been
transferred, and the Company has transferred almost all risks and rewards of ownership of the financial asset; ③
The financial asset has been transferred, although the Company has neither transferred nor retained almost all the
remuneration in the ownership of the financial asset, it has not retained control of the financial asset.
If the transfer of financial assets meets the conditions for derecognition, the difference between the following two
amounts shall be included in the current profit and loss: ① The book value of the transferred financial assets on
the date of derecognition; ② The sum of the consideration received for the transfer of financial assets and the
amount corresponding to the derecognized part of the cumulative amount of changes in fair value that was directly
included in other comprehensive income (the financial assets involved in the transfer are classified as financial
assets measured at fair value and their changes are included in other comprehensive income).
(2) Financial liability
If the current obligation of the financial liability (or part of it) has been discharged, the Company derecognizes the
financial liability (or part of the financial liability).
If the financial liability (or part of it) is derecognized, the Company shall include the difference between its book
value and the consideration paid (including non-cash assets transferred out or liabilities assumed) into the current
profit and loss.
10.Note receivable
10.1 How to determine expected credit losses
Based on expected credit losses, the Company makes impairment accounting treatment and confirm loss
provisions for financial assets (including receivables) measured at amortized cost and financial assets (including
receivables financing) that are measured at fair value and whose changes are included in other comprehensive
income, and lease receivables.
The Company assesses on each balance sheet date whether the credit risk of relevant financial instruments has
increased significantly since initial recognition, and divides the process of credit impairment of financial
instruments into three stages, and adopts different accounting treatment methods for financial instruments
impairment at different stages: (1) In the first stage, if the credit risk of a financial instrument has not increased
significantly since its initial recognition, the Company shall measure the loss provisions according to the expected
credit losses of the financial instrument in the next 12 months, and calculate the interest income according to its
book balance (i.e. without deducting impairment) and actual interest rate; (2) In the second stage, if the credit risk
of a financial instrument has increased significantly since the initial recognition but no credit impairment has
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深圳中恒华发股份有限公司 2022 年半年度报告全文
occurred, the Company shall measure the loss provisions according to the expected credit losses of the financial
instrument during the entire duration, and calculate the interest income according to its book balance and actual
interest rate; (3) In the third stage, if the credit impairment occurs after initial recognition, the Company shall
measure loss provisions based on the expected credit losses of the financial instrument for the entire duration, and
calculate the interest income according to its book balance and actual interest rate.
(1) Methods of measuring loss provisions for financial instruments with lower credit risk
For financial instruments with lower credit risk on the balance sheet date, the Company can directly make the
assumption that the credit risk of the instrument has not increased significantly since the initial recognition
without comparing with the credit risk at the initial recognition.
If the default risk of financial instruments is low, the debtor’s ability to fulfill its contractual cash flow obligations
is strong in the short term, and even if there are adverse changes in the economic situation and operating
environment over a long period of time, it may not necessarily reduce the borrower’s ability to fulfill the
contractual cash flow obligations, the financial instrument shall be considered to have lower credit risk.
(2) Methods of measuring loss provisions for accounts receivable and lease receivables
①Receivables that do not contain significant financing components. For the receivables formed by transactions
regulated by “Accounting Standards for Business Enterprises No.14-Revenue” and without containing significant
financing components, the Company adopts a simplified method, that is, it always calculates the loss provisions
based on the expected credit losses for the entire duration.
Based on the nature of financial instruments, the Company assesses whether credit risk has increased significantly
on the basis of individual financial assets or financial assets portfolios. The Company divides the notes receivable
and accounts receivable into several portfolios based on the characteristics of credit risk, and calculates the
expected credit losses on the basis of the portfolios, the basis for determining the portfolios is as follows:
Accounts receivable portfolio 1: A portfolio that uses the aging of accounts receivables as credit risk
characteristics,
Accounts receivable portfolio 2: Combination of related parties included in the scope of consolidated statements
Notes receivable portfolio 1: Same as the division of accounts receivable portfolio
Notes receivable portfolio 2: Management evaluates that this type of fund is bank acceptance portfolio with lower
credit risk
For the accounts receivable and notes receivable being divided into portfolio 1, the Company refers to the
historical credit loss experience, combines with the current conditions and the prediction of future economic
situation, and prepares a comparison table of the aging of accounts receivable and the expected credit loss rate of
the entire duration, and calculates the expected credit losses.
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深圳中恒华发股份有限公司 2022 年半年度报告全文
For accounts receivable and notes receivable being divided into portfolio 2, the Company refers to historical credit
loss experience, combines with the current conditions and the predictions of future economic conditions, and
calculates the expected credit losses of 0% through default risk exposure and expected credit loss rate for the
entire duration.
② Accounts receivables and leases receivables that contain significant financing components. For accounts
receivables that contain significant financing components and leases receivables regulated by “Accounting
Standards for Business Enterprises No. 21-Leases”, the Company measures loss provisions in accordance with the
general method, that is, the “third stage” model.
(3) Methods of measuring loss reserves for other financial assets
For financial assets other than the above, such as debt investment, other debt investment, other receivables, long-
term receivables other than lease receivables, etc., the Company uses the general method, that is, the three-stage
model to measure loss reserves.
When measuring the credit impairment of financial instruments, the Company considers the following factors in
assessing whether the credit risk has increased significantly:
The Company divides other receivables into a number of portfolios based on the nature of the money, and
calculates the expected credit loss on the basis of the portfolio. The basis for determining the portfolio is as
follows:
Other receivables portfolio 1: A portfolio of unrelated parties with provision for impairment in accordance with
the expected loss rate
Other receivables portfolio 2: A portfolio of related parties included in the scope of the consolidated statement
For other receivables classified into portfolio 1, the Company refers to historical credit loss experience, combines
with current conditions and forecasts of future economic conditions, compiles a comparison table of accounts
receivable aging and expected credit loss rate of the entire duration, and calculates the expected credit loss.
For other receivables classified into portfolio 2, the Company refers to historical credit loss experience, combines
with current conditions and forecasts of future economic conditions, and calculates an expected credit loss of 0%
through the default risk exposure and the expected credit loss rate of the entire duration .
(4)Accrual method of bad debt provision for those accrual by account age as the portfolio
Account age Expected credit loss rate of receivable (%) Expected credit loss rate of other receivable (%)
Within one year (one year included) 0 0
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深圳中恒华发股份有限公司 2022 年半年度报告全文
1-2 years 5 5
2-3 years 10 10
Over 3 years 30 30
10.2 Accounting treatment methods of expected credit losses
In order to reflect the changes in the credit risk of financial instruments since initial recognition, the Company
remeasures the expected credit losses on each balance sheet date, and the resulting increase or reversal of the loss
provisions should be counted as an impairment loss or gain and included in the current profit and loss, and based
on the type of financial instrument, offsets the book value of the financial asset listed in the balance sheet or
includes in the estimated liability (loan commitment or financial guarantee contract) or includes in other
comprehensive income (debt investments measured at fair value and whose changes are included in other
comprehensive income).
11. Account receivable
Same as 10. Note receivable
12.Receivable financing
Same as 10. Note receivable
13. Other account receivable
Determination and accounting treatment on the expected credit losses of other account receivable
Same as 10. Note receivable
14. Inventory
14.1 Categories of inventory
The inventory is goods or manufactured products held for sale, products in process, and materials and matters
utilized in the production or supply of labor. Mainly including raw material, revolving materials (wrappage and
low-value consumption goods etc.), outside processing materials, goods in process, semi-finished goods, stocks
and so on.
14.2 Accounting method for inventory delivery
When inventories are issued, the actual cost is determined by weighted average method.
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14.3 Accrual method inventory falling price reserves
On the balance sheet day, the inventory is measured on the lower one between the cost and the net realizable value,
and the provision for the falling price reserves is accrued on each inventory item; however, as for the inventory of
large quantity and low price, the provision is accrued on the inventory category.
14.4 Inventory system
Inventory system of the Company is perpetual inventory system
14.5 Amortization method for the low-value consumables and wrap page
Low-value consumables and packages are amortized by one-point method
15. Contract assets
The Company lists the right to receive consideration (and this right depends on factors other than the passage of
time) that has transferred goods or services to the customer as a contract asset.
Impairment of contract assets is based on expected credit losses. For the determination method and accounting
treatment method of the expected credit loss of the contract assets of the Company, please refer to (11) Notes
Receivable.
16.Contract costs
The Company’s contract cost includes the incremental cost for obtaining contracts and contract performance cost.
The incremental cost incurred to obtain a contract (contract acquisition cost) is the cost that would not have been
incurred if the contract had not been obtained. If the cost is expected to be recovered, the Company shall
recognize it as an asset as the contract acquisition cost.
If the cost incurred by the Company for performing the contract does not fall within the scope of the inventory and
other accounting standards and meets the following conditions at the same time, it shall be recognized as an asset
as the contract performance cost:
1. The cost is directly related to a current or expected contract, including direct labor, direct materials,
manufacturing overhead (or similar expenses), cost clearly borne by the user, and other cost incurred solely as a
result of the contract;
2. The cost increases the Company’s future resources for fulfilling its performance obligations;
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3. The cost is expected to be recovered.
The Company amortizes the asset (hereinafter referred to as the “asset related to the contract cost”) recognized by
the contract acquisition cost and the contract performance cost on the same basis as the revenue from the
commodity related to the asset, and includes it in the current profit and loss. If the amortization period of the asset
formed by the incremental cost for obtaining the contract does not exceed one year, it shall be included in the
current profit and loss when it occurs.
When the book value of the asset related to the contract cost is higher than the difference between the following
two items, the Company shall make provision for impairment of the excess and recognize it as an asset
impairment loss:
1. The remaining consideration expected to be obtained due to the transfer of commodity related to the asset;
2. The estimated cost to be incurred for the transfer of the relevant commodity.
17. Long-term equity investment
17.1 Recognition of initial investment cost
For a long-term equity investment obtained by a business combination, if it is a business combination under the
same control, take the share of the combine party obtained in the book value of the net assets in the consolidated
financial statements of the ultimate controlling party on the combination date as the initial investment cost; in the
case of the consolidation of enterprises not under the same control, recognized as the initial cost is the recognized
consolidation cost on the purchase day. As for the long term equity investment obtained by cash payment, the
initial investment cost is the actual purchase payment. As for the long term equity investment obtained by the
equity securities offering, the initial investment cost is the fair value of the equity securities. As for the long-term
equity investment obtained by debt reorganization, initial investment cost of such investment should determine by
relevant regulation of the “Accounting Standards for Business Enterprise No.12- Debt Reorganization”; as for the
long term equity investment obtained by the exchange of the non-monetary assets, the initial investment cost is
recognized on the relevant rules in the “Accounting Standards for Business Enterprise No. 7- Exchange of Non-
Monetary Assets”
17.2 Subsequent measurement and profit or loss recognition
Where the company has a control over the investee, long-term equity investments are measured using cost method.
Long-term equity investments in associates and joint ventures are measured using equity method. Where part of
the equity investments of an investor in its associates are held indirectly through venture investment institutions,
common fund, trust companies or other similar entities including investment linked insurance funds, such part of
equity investments indirectly held by the investor shall be measured at fair value through profit or loss according
to according to relevant requirements of Accounting Standards for Business Enterprises No.22—Recognition and
measurement of Financial Instruments regardless whether the above entities have significant influence on such
part of equity investments, while the remaining part shall be measured using equity method.
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17.3 Basis of conclusion for common control and significant influence over the investee
Joint control over an investee refers to where the activities which have a significant influence on return on certain
arrangement could be decided only by mutual consent of the investing parties sharing the control, which includes
the sales and purchase of goods or services, management of financial assets, acquisition and disposal of assets,
research and development activities and financing activities, etc.; Significant influence on the investee refers to
that: significant influence over the investee exists when holding more than 20% but less than 50% of the shares
with voting rights or even if the holding is below 20%, there is still significant influence if any of the following
conditions is met: there is representative in the board of directors or similar governing body of the investee;
participation in the investee’s policy setting process; assign key management to the investee; the investee relies on
the technology or technical information of the investing company; or major transactions with the investee.
18. Investment real estate
Measurement for investment real estate
Cost method
Depreciation or amortization method
The leased buildings in the Company’s investment property adopts straight-line depreciation to calculate and
distill depreciation, specific accounting policy are same as part of the fixed assets. The leased land use rights in
the investment property and the land use rights to be transferred after appreciation adopt straight-line amortization,
specific accounting policy are same as part of the intangible assets.
19. Fixed assets
(1) Recognition
Fixed assets refers to the tangible assets holding for purpose of producing goods, providing labor services, leasing
or operation management, which has one accounting fiscal year of using life. Meanwhile as up to the following
conditions, they are recognized: the economic interest related to the fixed assets probably flow into the Company;
the cost of the fixed assets can be measured reliably.
(2) Depreciation method
Annual depreciation
Category Depreciation method Depreciation life (year) Salvage rate
rate
Straight-line
House building 20-50 10 1.80-4.50
depreciation
Straight-line
Machinery equipment 10 10 9
depreciation
Mold equipment Straight-line 3 10 30
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depreciation
Transportation Straight-line
5 10 18
equipment depreciation
Straight-line
Instrument equipment 5 10 18
depreciation
Straight-line
Tool equipment 5 10 18
depreciation
Straight-line
Office equipment 5 10 18
depreciation
The fixed assets under financing lease are the lease that has substantially transferred all the risks and rewards
associated with asset ownership. The initial valuation of the fixed assets under financing lease is to take the lower
one between the fair value of the leased assets and the present value of the minimum lease payments on the start
date of the lease period as the entry value; the subsequent valuation of the fixed assets under financing lease
adopts the depreciation policy consistent with the own fixed assets to make depreciation and impairment provision.
(3) Recognition basis, valuation and depreciation method for fixed assets under financing lease
The fixed assets under financing lease are the lease that has substantially transferred all the risks and rewards
associated with asset ownership. The initial valuation of the fixed assets under financing lease is to take the lower
one between the fair value of the leased assets and the present value of the minimum lease payments on the start
date of the lease period as the entry value; the subsequent valuation of the fixed assets under financing lease
adopts the depreciation policy consistent with the own fixed assets to make depreciation and impairment provision.
20. Construction in process
21. Borrowing expenses
21.1 Recognition principle on capitalization of borrowing expenses
As for the Company’s actual borrowing expenses directly attributable to the assets construction or production, it is
capitalized and reckoned into the relevant assets cost; as for other borrowing expenses, it is recognized on the
actual sum and reckoned into the current loss/gain. The assets up to the capitalization are assets as the capital
assets, investment real estate, and inventory reaching the expectant availability or sale ability.
21.2 Calculation of the capitalization
Capitalization term: the period from the time starts to capitalization to the time the capitalization ends. The period
of capitalization suspended is not included. The capitalization of borrowing expenses should be suspended while
the abnormal interrupt, which surpass three months continuously, in the middle of acquisition or construction or
production.
As for the borrowing of the specific borrowing, the capitalization sum is recognized on the current actual
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interest expenses less the interest income of the borrowing capital not utilized but deposited in the bank or the
return of the temporary investment; As for the appropriation of the general borrowing, the capitalization sum is
recognized on the weighted average of, the accumulative assets expenditure above the specific borrowing, and
times the capitalization rate of the appropriation; As for the discount or premium of the borrowing, the discount or
premium to be diluted in every accounting period is recognized in the actual rate method.
The effective interest method is the method for the measurement of the diluted discount or premium or interest
expenses on the actual interest rate; and the actual interest rate is the interest rate used in the discount of the future
cash flow in the expectant duration period as the current book value of the borrowing.
22. Right-of-use assets
For right-of-use assets, if the lessee can reasonably determine that the ownership of the leased asset can be
obtained when the lease term expires, it shall accrue depreciation over the remaining useful life of the leased asset.
If it cannot be reasonably determined that the ownership of the leased asset can be obtained at the expiration of the
lease term, depreciation shall be accrued within the shorter of the lease term and the remaining useful life of the
leased asset. At the same time, the lessee needs to determine whether the right-of-use asset is impaired, and
conducts accounting treatment for the recognized impairment loss.
23. Intangible assets
(1) Accounting method, service life and impairment test
1. Recognition principle on capitalization of borrowing expenses
As for the Company’s actual borrowing expenses directly attributable to the assets construction or production, it is
capitalized and reckoned into the relevant assets cost; as for other borrowing expenses, it is recognized on the
actual sum and reckoned into the current loss/gain. The assets up to the capitalization are assets as the capital
assets, investment real estate, and inventory reaching the expectant availability or sale ability.
2. Calculation of the capitalization
Capitalization term: the period from the time starts to capitalization to the time the capitalization ends. The period
of capitalization suspended is not included. The capitalization of borrowing expenses should be suspended while
the abnormal interrupt, which surpass three months continuously, in the middle of acquisition or construction or
production.
As for the borrowing of the specific borrowing, the capitalization sum is recognized on the current actual
interest expenses less the interest income of the borrowing capital not utilized but deposited in the bank or the
return of the temporary investment; As for the appropriation of the general borrowing, the capitalization sum is
recognized on the weighted average of, the accumulative assets expenditure above the specific borrowing, and
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times the capitalization rate of the appropriation; As for the discount or premium of the borrowing, the discount or
premium to be diluted in every accounting period is recognized in the actual rate method.
The effective interest method is the method for the measurement of the diluted discount or premium or interest
expenses on the actual interest rate; and the actual interest rate is the interest rate used in the discount of the future
cash flow in the expectant duration period as the current book value of the borrowing.
(2) Accounting policies for internal research and development expenditure
Specific criteria for the research phase and development phase of internal R&D projects, and specific criteria for
development phase expenditures to qualify for capitalization
Expenditures for internal research and development projects at the research phase shall be included in the current
profit or loss when incurred; expenditures incurred at the development phase and recognized as intangible assets
shall be transferred to intangible assets accounting.
24. Long-term assets impairment
Long-term equity investments, investment properties measured at cost and long-term assets such as fixed assets,
construction in progress, productive biological assets at cost method, oil and gas assets, intangible assets and
goodwill are tested for impairment if there is any indication that an asset may be impaired at the balance date. If
the result of the impairment test indicates that the recoverable amount of the asset is less than its carrying amount,
a provision for impairment and an impairment loss are recognized for the amount by which the asset’s carrying
amount exceeds its recoverable amount.
The recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the future
cash flows expected to be derived from the asset. Provision for asset impairment is determined and recognized on
the individual asset basis. If it is not possible to estimate the recoverable amount of an individual asset, the
recoverable amount of a group of assets to which the asset belongs is determined. A group of assets is the smallest
group of assets that is able to generate independent cash inflows.
Goodwill arising from a business combination is tested for impairment at least at each year end, irrespective of
whether there is any indication that the asset may be impaired. For the purpose of impairment testing, the carrying
amount of goodwill acquired in a business combination is allocated from the acquisition date on a reasonable
basis to each of the related asset groups; if it is impossible to allocate to the related asset groups, it is allocated to
each of the related set of asset groups. If the carrying amount of the asset group or set of asset groups is higher
than its recoverable amount, the amount of the impairment loss first reduced by the carrying amount of the
goodwill allocated to the asset group or set of asset groups, and then the carrying amount of other assets (other
than the goodwill) within the asset group or set of asset groups, pro rata based on the carrying amount of each
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asset.
Once the impairment loss of such assets is recognized, it is not be reversed in any subsequent period.
25. Long-term deferred expenses
The Company’s long-term deferred expenditure are expenses paid out and with one year above (one-year
excluded) benefit period. The long-term deferred expenses are diluted by periods according to the benefit period.
As the long-term deferred expenses cannot enable the accounting period’s beneficiary, all dilution values of the
project undiluted yet, are transferred into the current loss/gain.
26. Contract liability
The company presents the obligation to transfer goods or provide services to customers for consideration received
or receivable as a contract liability.
27. Employees remuneration
(1) Accounting for short-term benefits
In the period of employee services, short-term benefits are actually recognized as liabilities and charged to profit
or loss, or if otherwise required or allowed by other accounting standards, to the related costs of assets for the
current period. At the time of actual occurrence, The Company’s employee benefits are recorded into the profits
and losses of the current year or assets associated costs according to the actual amount. The non-monetary
employee benefits are measured at fair value. Regarding to the medical and health insurance, industrial injury
insurance, maternity insurance and other social insurances, housing fund and labor union expenditure and
personnel education that the Company paid for employees, the Company should recognize corresponding
employees benefits payable according to the appropriation basis and proportion as stipulated by relevant
requirements and recognize the corresponding liabilities and include these expenses in the profits or losses of the
current period or recognized as respective assets costs.
(2) Accounting for post-employment benefits
During the accounting period in which an employee provides service, the amount payable calculated under
defined contribution scheme shall be recognized as a liability and recorded in profit and loss of the current period
or in assets. In respect of the defined benefit scheme, the Company shall use the projected unit credit method and
attribute the welfare obligations calculated using the formula stipulated by the defined benefit scheme to the
service period of the employee, and record the obligation in the current profit and loss or related assets cost.
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(3) Accounting for termination benefits
The Company recognizes a liability and expenses in the current profit or loss for termination benefits at the earlier
of the following dates: when the Company can no longer withdraw the offer of those benefits; and when the
Company recognizes costs for restructuring involving the payment of termination costs.
(4) Accounting for other long-term employee benefits
The Company provides other long-term employee benefits to its employees. For those falling within the scope of
defined contribution scheme, the Company shall account for them according to relevant requirements of the
defined contribution scheme. In addition, the Company recognizes and measures the net liabilities or net assets of
the other long-term employee benefits according to relevant requirements of the defined contribution scheme.
28. Lease liability
For the lease liabilities, the lessee shall calculate the interest expenses on the lease liability for each period of the
lease term and reckon into current gain/loss.
29. Accrual liability
The obligation related to contingencies is the current obligation assumed by the company, and performing this
obligation may result in an outflow of economic benefits, and this obligation can be determined as the estimated
liabilities when the amount can be reliably measured. The Company makes initial measurement in accordance
with the best estimate for performing the related current obligation, if the expenditure as needed has a continuous
range, and the likelihood of occurrence of various results in this range is the same, the best estimate is determined
by the median value within the range; if a number of items are involved, the best estimate is determined by the
calculation of various possible outcomes and related probabilities.
At the balance sheet date, the book value of estimated liabilities should be rechecked, if there is conclusive
evidence indicates that this book value cannot truly reflect the current best estimate, and then the book value
should be adjusted in accordance with the current best estimate.
30. Revenue (income)
Accounting policy for recognition and measurement of revenue(income)
Different business models of similar business resulted in different accounting policies for revenue recognition
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31. Government subsidy
31.1Category of government subsidy and accounting treatment
Governments subsidy of the Company refer to the monetary and non-monetary assets obtained from government
for free (excluding the capital invested by government as an owner). If the government grants are monetary assets,
it shall be measured according to the amount received or receivable. If the government grants are non-monetary
assets, it shall be measured at fair value; if the fair value cannot be obtained reliably, it shall be measured at the
nominal amount.
Government grants related to daily activities are included in other income in accordance with the economic
business. Government grants not related to daily activities are included in the non-operating income and
expenditure.
Government grants that the government documents clearly stipulate to be used for the purchase and establishment
or forming long-term assets in other way are recognized as government grants related to assets. For the
government grants that the government documents do not clearly specify the subsidy target and can form long-
term assets, the part corresponding to the asset value is recognized as the government grants related to the assets,
and the rest is recognized as the government grants related to the income. For the government grants which are
difficult to be distinguished, recognize the whole as the government grants related to the income. Government
grants related to assets are recognized as deferred income. The amount recognized as deferred income is included
in the current profit and loss in a reasonable and systematic manner within the useful life of the relevant asset.
Government grants other than government grants related to assets are recognized as government grants related to
income. If the government grants related to the income are used to compensate the related expenses or losses of
the enterprise in the future period, recognize them as deferred income and include them in the current profit and
loss during the period of recognizing the related expenses. The government grants used to compensate the relevant
expenses or losses incurred by the enterprise are directly included in the current profit and loss.
The Company obtained the policy preferential loan interest subsidy, and the finance allocated the interest subsidy
funds to the loan bank, and the loan bank provides loans to the Company at a preferential interest rate, take the
actual amount of the loan received as the entry value of the loan, and calculate the relevant borrowing costs
according to the loan principal the policy preferential interest rate. If the finance directly appropriates the interest
subsidy funds to the Company, the Company will offset the relevant borrowing costs with the corresponding
interest subsidy.
31.2 Time points to recognize the government grants
Government grants are recognized when they meet the conditions attached to government grants and can be
received. Government grants measured in accordance with the amount receivable are recognized when there is
conclusive evidence at the end of the period that it meets the relevant conditions stipulated in the financial support
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policy and is expected to receive financial support funds. Other government grants other than government grants
measured in accordance with the receivable amount are recognized when the grant is actually received.
32. Deferred income tax asset / deferred income tax liability
32.1 Where there is difference between the carrying amount of the assets or liabilities and its tax base, (as for an
item that has not been recognized as an asset or liability, if its tax base can be determined in light of the tax law,
the tax base shall recognized as the difference) the deferred income tax and deferred income tax liabilities shall be
determined according to the applicable tax rate in period of assets expected to recover or liability expected to pay
off.
32.2 The deferred income tax assets shall be recognized to the extent of the amount of the taxable income which it
is most likely to obtain and which can be deducted from the deductible temporary difference. On balance sheet
date, if there have concrete evidence of obtaining, in future period, enough taxable amounts to deduct the
deductible temporary difference, the un-confirmed deferred income tax assets in previous accounting period shall
be recognized. If there has no enough taxable amounts, obtained in future period, to deducted the deferred income
tax assets, book value of the deferred income tax assets shall be kept in decreased.
32.3The taxable temporary differences related to the investments of subsidiary companies and associated
enterprises shall recognized as deferred income tax liability, unless the Company can control the time of the
reverse of temporary differences and the temporary differences are unlikely to be reversed in the expected future.
As for the deductible temporary difference related to the investment of the subsidiary companies and associated
enterprises, deferred income tax assets shall be recognized while the temporary differences are likely to be
reversed in the expected future and it is likely to acquire any amount of taxable income tax that may be used for
making up the deductible temporary differences.
33. Leasing
(1) Accounting treatment for operating lease
Operating lease payments are recognized on a straight-line basis over the term of the relevant lease, and are either
included in the cost of related asset or charged to profit or loss for the period.
(2) Accounting treatment for finance lease
Accounting treatment for finance lease: At the commencement of the lease term, the Group records the leased
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asset at an amount equal to the lower of the fair value of the leased asset and the present value of the minimum
lease payments. The difference between the recorded amounts is accounted for as unrecognized finance charge,
using the effective interest method amortization during the lease term. Minimum lease payments deducting
unrecognized financing charges are listed as long-term payable.
34. Changes in important accounting policies and estimates
(1) Changes in important accounting policies
□ Applicable √Not applicable
(2)Changes in important accounting estimates
□ Applicable √Not applicable
VI. Taxes
1. Major tax and tax rate
Taxes Taxation basis Tax rate
VAT Domestic sales revenue 13%, 9%, 6%, 5%, 3%
Consumption tax Turnover tax payable 7%
Corporate income tax Taxable income 15%, 25%
Educational surtax Turnover tax payable 3%
Local educational surtax Turnover tax payable 2%
Property tax 70% of original value of the property 1.2%
Explain the different taxation entity of the enterprise income tax
Taxation entity Income tax rate
Wuhan Hengfa Technology Co., Ltd. 15%
2. Tax preferences
According to the “Measures for the Determination of High-tech Enterprises”, and through the enterprise
application, expert review, and public announcement and other procedures, the Company’s wholly-owned
subsidiary, Wuhan Hengfa Technology Co., Ltd., has been identified as a high-tech enterprise, and obtained the
“High-tech Enterprise Certificate” jointly issued by the Science and Technology Department of Hubei Province,
Hubei Provincial Finance Department, Hubei Provincial Office, SAT, and Local Taxation Bureau of Hubei
Province on December 1, 2020, the certificate number is GR202042003237, which is valid for 3 years. The
applicable corporate income tax rate of the subsidiary Wuhan Hengfa Technology Co., Ltd. for 2022 was 15%.
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VII. Notes to main items in consolidated financial statement
1. Monetary fund
Unit: RMB/CNY
Item Ending balance Opening balance
Cash on hand 460.00 220,467.15
Bank deposit 60,773,767.30 32,674,664.03
Other monetary fund 14,890,386.86 1,530,911.93
Total 75,664,614.16 34,426,043.11
The total amount of money that has
restrictions on use due to mortgage, 92,568.28 92,568.28
pledge or freezing
Other explanation
Amount of the restricted monetary funds at end of the period was 14,982,955.14 yuan, including bank deposits of 92,568.28 yuan,
which were restricted due to the freezing of litigation; other monetary fund was 14,890,386.86 yuan, which were restricted due to the
note deposit. Other than that, the Company has no other amounts that are subject to restriction on use and potential recovery risks due
to mortgages, pledges or freezes.
2. Trading financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Including:
Including:
Other note:
3. Derivative financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Other note:
4. Note receivable
(1) Category
Unit: RMB/CNY
Item Ending balance Opening balance
Bank acceptance bill 2,298,990.09 62,186,577.09
Commercial acceptance bill 58,528,302.45 43,735,740.51
Total 60,827,292.54 105,922,317.60
Unit: RMB/CNY
Ending balance Opening balance
Bad debt
Book balance Book balance Bad debt provision
Category provision Book Book
Amoun Proport Amoun Accrua value Amoun Proport Accrual value
Amount
t ion t l ratio t ion ratio
62,827, 100.00 62,827, 105,92 100.00 105,92
Including: 0.00 0.00% 0.00 0.00%
292.54 % 292.54 2,317.6 % 2,317.6
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0 0
Note receivable
with bad debt
provision accrual
by combination
2,298,9 2,298,9 62,186, 62,186,
Including: 3.66% 0.00 0.00% 58.71% 0.00 0.00%
90.09 90.09 577.09 577.09
Bank acceptance 60,528, 96.34 60,528, 43,735, 43,735,
0.00 0.00% 41.29% 0.00 0.00%
bill 302.45 % 302.45 740.51 740.51
105,92 105,92
Commercial 62,827, 100.00 62,827, 100.00
0.00 0.00% 2,317.6 0.00 0.00% 2,317.6
acceptance bill 292.54 % 292.54 %
0 0
105,92 105,92
62,827, 100.00 62,827, 100.00
Total 0.00 0.00% 2,317.6 0.00 0.00% 2,317.6
292.54 % 292.54 %
0 0
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 receivables to disclose related information about bad-debt provisions:
□ Applicable √Not applicable
(2) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Including major amount bad debt provision that collected or reversal in the period:
□ Applicable √Not applicable
(3) Notes receivable that the company has pledged at the end of the period
Unit: RMB/CNY
Item Amount pledge at period-end
Commercial acceptance bill 7,715,431.89
Total 7,715,431.89
(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
Commercial acceptance bill 37,185,847.90
Total 37,185,847.90
5. Account receivable
(1) Category
Unit: RMB/CNY
Ending balance Opening balance
Bad debt
Category Book balance Book Book balance Bad debt provision Book
provision
value value
Amoun Proport Amoun Accrua Amoun Proport Amoun Accrual
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t ion t l ratio t ion t ratio
Account receivable
with bad debt 13,146, 13,146, 100.00 13,146, 13,146, 100.00
9.94% 9.27%
provision accrual 290.18 290.18 % 290.18 290.18 %
on a single basis
Including:
Account receivable 133,91 133,87 128,71
with bad debt 91.06 39,021. 39,021. 128,675,
1,789.3 0.03% 2,767.5 4,349.7 90.73% 0.03%
provision accrual % 77 77 327.97
by combination 2 5 4
Including:
Combination 1:
Take account ages 133,91 133,87 128,71
of receivables as a 91.06 39,021. 39,021. 128,675,
1,789.3 0.03% 2,767.5 4,349.7 90.73% 0.03%
combination of % 77 77 327.97
credit risk 2 5 4
characteristics
147,05 133,87 141,86
100.00 13,185, 100.00 13,185, 128,675,
Total 8,079.5 8.97% 2,767.5 0,639.9 9.29%
% 311.95 % 311.95 327.97
0 5 2
Accrual of bad debt provision on single basis: 13,146,290.18
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Shenzhen Portman
Bowling Club Co., 2,555,374.75 2,555,374.75 100.00% Uncollectible
Ltd.
Hong Kong Haowei
1,870,887.18 1,870,887.18 100.00% Uncollectible
Industrial Co., Ltd.
TCL ACE ELECTRIC
APPLIANCE
1,325,431.75 1,325,431.75 100.00% Uncollectible
(HUIZHOU) CO.,
LTD.
Qingdao Haier Parts
1,225,326.15 1,225,326.15 100.00% Uncollectible
Procurement Co., Ltd.
SKYWORTH
Multimedia 579,343.89 579,343.89 100.00% Uncollectible
(Shenzhen) Co., Ltd.
Shenzhen Huixin
Video Technology Co., 381,168.96 381,168.96 100.00% Uncollectible
Ltd.
Shenzhen Wandelai
Digital Technology 351,813.70 351,813.70 100.00% Uncollectible
Co., Ltd.
Shenzhen Dalong
344,700.00 344,700.00 100.00% Uncollectible
Electronic Co., Ltd.
Shenzhen Keya
332,337.76 332,337.76 100.00% Uncollectible
Electronic Co., Ltd.
Shenzhen Qunping
304,542.95 304,542.95 100.00% Uncollectible
Electronic Co., Ltd.
China Galaxy
Electronics (Hong 288,261.17 288,261.17 100.00% Uncollectible
Kong) Co., Ltd.
Dongguan Weite
274,399.80 274,399.80 100.00% Uncollectible
Electronic Co., Ltd.
Chuangjing 247,811.87 247,811.87 100.00% Uncollectible
Hong Kong New
Century Electronics 207,409.40 207,409.40 100.00% Uncollectible
Co., Ltd.
Shenyang Beitai
203,304.02 203,304.02 100.00% Uncollectible
Electronic Co., Ltd.
Beijing Xinfang Weiye
193,000.00 193,000.00 100.00% Uncollectible
Technology Co., Ltd.
TCL Electronics 145,087.14 145,087.14 100.00% Uncollectible
86
深圳中恒华发股份有限公司 2022 年半年度报告全文
(Hong Kong) Co., Ltd.
Huizhou TCL Xinte
142,707.14 142,707.14 100.00% Uncollectible
Electronics Co., Ltd.
Sky Worth – RGB
133,485.83 133,485.83 100.00% Uncollectible
Electronic Co., Ltd.
Other 2,039,896.72 2,039,896.72 100.00% Uncollectible
Total 13,146,290.18 13,146,290.18
Accrual of bad debt provision on portfolio: 39,021.77
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Within one year 133,167,210.49 0.00%
1-2 years 718,833.35 35,941.67 5.00%
2-3 years 23,217.71 2,321.77 10.00%
Over 3 years 2,527.77 758.33 30.00%
Total 133,911,789.32 39,021.77
Explanation on portfolio basis:
Take account ages of receivables as a combination of credit risk characteristics
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 bad-debt provisions:
□ Applicable √Not applicable
By account age
Unit: RMB/CNY
Account ages Book balance
Within one year (one year included) 146,313,500.67
1-2 years 718,833.35
2-3 years 23,217.71
Over 3 years 2,527.77
3-4 years 2,527.77
Total 147,058,079.50
(2) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Accounts
receivable with
provision for
13,146,290.18 13,146,290.18
bad debts based
on individual
assessments
Accounts
receivable with
provision for 39,021.77 39,021.77
bad debts by
combination
Total 13,185,311.95 13,185,311.95
Including major amount bad debt provision that collected or reversal in the period:
Unit: RMB/CNY
Company Amount collected or reversal Way of collection
87
深圳中恒华发股份有限公司 2022 年半年度报告全文
(3) Actual written-off accounts receivable in the current period
Unit: RMB/CNY
Item Written-off amount
Including the important accounts receivable written-off situation:
Unit: RMB/CNY
Whether the
Written-off payment is
Nature of accounts Written-off
Name Written-off reason procedure generated by
receivable amount
performed related party
transactions
Written-off description of accounts receivable:
(4) Top 5 account receivables collected by arrears party at ending balance
Unit: RMB/CNY
Ending balance of account Proportion in total account Ending balance of bad debt
Company
receivable receivables at period-end provision
Qingdao Haidayuan
Purchasing Service Co., 31,949,615.40 23.87%
Ltd.
Hefei Hangjia Display
29,729,570.68 22.21%
Technology Co., Ltd.
ViewSonic Technology
13,159,959.00 9.83%
(China) Co., Ltd.
Xiamen Edmond
Electronic Technology 8,261,850.62 6.17%
Co., Ltd.
TCL Air Conditioner
7,306,764.13 5.46%
(Wuhan) Co., Ltd.
Total 90,407,759.83 67.54%
6. Receivable financing
Unit: RMB/CNY
Item Ending balance Opening balance
Notes receivable 500,000.00
Total 500,000.00
Receivable financing Changes in the period and changes in fair value
□ Applicable √Not applicable
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 bad-debt provisions:
□ Applicable √Not applicable
Other explanation:
7. Accounts paid in advance
(1) By account age
Unit: RMB/CNY
88
深圳中恒华发股份有限公司 2022 年半年度报告全文
Ending balance Opening balance
Account ages
Amount Proportion Amount Proportion
Within one year 19,963,828.94 100.00% 7,996,570.95 100.00%
Total 19,963,828.94 7,996,570.95
Explanation on reasons of failure to settle on important account paid in advance with age over one year:
Not applicable
(2) Top 5 account paid in advance at ending balance by prepayment object
Name of supplier Amount Ratio
Hong Kong Yutian International Investment Co., Ltd. 14,502,424.33 72.64%
AU Optronics Co., Ltd. 1,549,115.87 7.76%
Mingyan Technology (Shenzhen) Co., Ltd. 876,919.77 4.39%
Nanjing CLP Panda LCD Technology Co., Ltd. 616,945.60 3.09%
Zhengzhou Haier Air Conditioner Co., Ltd. 441,126.00 2.21%
Total 17,986,531.57 90.09%
Other explanation:
8. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Other account receivable 4,628,853.27 4,520,412.70
Total 4,628,853.27 4,520,412.70
(1) Interest receivable
1) Category of interest receivable
Unit: RMB/CNY
Item Ending balance Opening balance
2) Significant overdue interest
Unit: RMB/CNY
Whether there is
Borrower Ending balance Overdue time Reason for overdue impairment and its
judgment basis
Other note:
3) Accrual of bad debt provision
√ Applicable □ Not applicable
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses Expected credit losses
Bad debt provision Expected credit losses for the entire duration for the entire duration Total
over next 12 months (without credit (with credit impairment
impairment occurred) occurred)
89
深圳中恒华发股份有限公司 2022 年半年度报告全文
Balance of 1 Jan. 2022
in the period
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
(2) Dividend receivable
1) Category of dividend receivable
Unit: RMB/CNY
Item (or invested unit) Ending balance Opening balance
2) Important dividend receivable with account age over one year
Unit: RMB/CNY
Whether there is
Reasons for non-
Item (or invested unit) Ending balance Account age impairment and its
recovery
judgment basis
3) Accrual of bad debt provision
√ Applicable □ Not applicable
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses Expected credit losses
Bad debt provision Expected credit losses for the entire duration for the entire duration Total
over next 12 months (without credit (with credit impairment
impairment occurred) occurred)
Balance of 1 Jan. 2022
in the period
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
Other note:
(3) Other account receivable
1) Other account receivable by nature
Unit: RMB/CNY
Nature Ending book balance Opening book balance
Margin & deposit 279,076.70 1,829,768.00
Borrow money 3,031,923.33 1,481,984.12
Intercourse funds 8,723,023.54 7,844,053.53
Rental receivable 7,013,623.97 6,999,971.21
Other 141,721.91 925,152.02
Less: Bad debt provision -14,560,516.18 -14,560,516.18
Total 4,628,853.27 4,520,412.70
90
深圳中恒华发股份有限公司 2022 年半年度报告全文
2) Accrual of bad debt provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Bad debt provision the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance on1 Jan. 2022 14,560,516.18 14,560,516.18
Balance of 1 Jan. 2022
in the period
Balance on Dec. 31,
14,560,516.18 14,560,516.18
2022
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
Unit: RMB/CNY
Account ages Book balance
Within one year (one year included) 1,697,997.65
1-2 years 1,725,961.49
2-3 years 265,630.40
Over 3 years 15,790,653.83
3-4 years 15,790,653.83
Total 19,480,243.37
3) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Including the important amount collected or switches back in the period:
Unit: RMB/CNY
Company Amount collected or switches back Way of collection
4) The actual written-off other receivables in the current period
Unit: RMB/CNY
Item Written-off amount
Including the important written-off situation of other receivables:
Unit: RMB/CNY
Whether the
Written-off payment is
Nature of other Written-off
Name Written-off reason procedure generated by
receivables amount
performed related party
transactions
Description of other receivables written-off:
5) Top 5 other receivables collected by arrears party at ending balance
Unit: RMB/CNY
91
深圳中恒华发股份有限公司 2022 年半年度报告全文
Proportion in total
Ending balance of
Company Nature Ending balance Account ages other receivables
bad debt provision
at period-end
Portman Rental receivable 4,021,734.22 Over 3 years 20.96% 4,021,734.22
Jackfang
Investment 1F Rental receivable 1,380,608.00 Over 3 years 7.19% 1,380,608.00
1076
TPV Electronic
Technology Margin 800,000.00 Over 3 years 4.17%
(Fujian) Co., Ltd.
Jiang Hong Borrow money 600,000.00 Within 1 year 3.13%
Compensation for
Intercourse funds 555,785.81 Over 3 years 2.90% 555,785.81
traffic accidents
Total 7,358,128.03 38.34% 5,958,128.03
6) Receivables involving government subsidies
Unit: RMB/CNY
Estimated time,
Government subsidy
Name Ending balance Ending account age amount and basis of
item
receipt
7) Other receivable for termination of confirmation due to the transfer of financial assets
8) The amount of assets and liabilities that are transferred other receivable and continued to be involved
Other note:
9. Inventories
Whether companies need to comply with the disclosure requirements of the real estate industry
No
(1) Category
Unit: RMB/CNY
Ending balance Opening balance
Inventories fall Inventories fall
provision or provision or
contract contract
Item
Book balance performance Book value Book balance performance Book value
costs costs
impairment impairment
provision provision
Raw materials 38,396,272.13 2,085,289.46 36,310,982.67 51,030,203.86 2,085,289.46 48,944,914.40
Inventory
23,660,783.35 2,210,144.58 21,450,638.77 32,258,568.10 2,210,144.58 30,048,423.52
goods
Low priced and
easily worn 97,988.60 21,905.99 76,082.61 141,953.08 21,905.99 120,047.09
articles
Homemade
semi-finished 8,588,301.98 325,374.92 8,262,927.06 11,797,660.18 325,374.92 11,472,285.26
products
Total 70,743,346.06 4,642,714.95 66,100,631.11 95,228,385.22 4,642,714.95 90,585,670.27
92
深圳中恒华发股份有限公司 2022 年半年度报告全文
(2) Inventories fall provision or contract performance costs impairment provision
Unit: RMB/CNY
Current increased Current decreased
Opening
Item Reversal or Ending balance
balance Accrual Other Other
write-off
Raw materials 2,085,289.46 2,085,289.46
Inventory
2,210,144.58 2,210,144.58
goods
Homemade
semi-finished 325,374.92 325,374.92
products
Low priced and
easily worn 21,905.99 21,905.99
articles
Total 4,642,714.95 4,642,714.95
(3) Explanation on capitalization of borrowing costs at ending balance of inventory
(4) Assets completed without settlement from construction contract at period-end
10. Contract assets
Unit: RMB/CNY
Ending balance Opening balance
Item Book Provision for Book Provision for
Book value Book value
balance impairment balance impairment
The amount and reasons for major changes in the book value of contract assets during the current period:
Unit: RMB/CNY
Item Change amount Reason for change
If the provision for bad debts of contract assets 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 bad-debt
provisions:
□ Applicable √Not applicable
Accrual provision for impairment of contract assets in the current period
Unit: RMB/CNY
Current resell/Written-
Item Current accrual Current reversal Reason
off
Other note:
11. Assets held for sale
Unit: RMB/CNY
Ending book Provision for Ending book Estimated Estimated
Item Fair value
balance impairment value disposal cost disposal time
Other note:
12. Non-current assets due within one year
Unit: RMB/CNY
Item Ending balance Opening balance
93
深圳中恒华发股份有限公司 2022 年半年度报告全文
Important debt investment/other debt investment
Unit: RMB/CNY
Ending balance Opening balance
Real Real
Creditor’s Rights Item Face Coupon Expiry Face Coupon Expiry
interest interest
value rate date value rate date
rate rate
Other note:
13. Other current assets
Unit: RMB/CNY
Item Ending balance Opening balance
Value-added tax to be deducted 3,732,033.86
Gain/loss on properties held for disposal 105,743.48
Total 105,743.48 3,732,033.86
Other explanation:
14. Debt investment
Unit: RMB/CNY
Ending balance Opening balance
Item Provision for Provision for
Book balance Book value Book balance Book value
impairment impairment
Important debt investment
Unit: RMB/CNY
Ending balance Opening balance
Real Real
Creditor’s Rights Item Face Coupon Expiry Face Coupon Expiry
interest interest
value rate date value rate date
rate rate
Provision for impairment accrual
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Bad debt provision the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance of 1 Jan. 2022
—— —— —— ——
in the period
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
Other note:
15. Other debt investment
Unit: RMB/CNY
Accumulat
ed loss
reserves
Fair value Cumulativ
Opening Accrued Ending recognized
Item changes in Cost e fair value Note
balance interest balance in other
this period changes
comprehen
sive
income
94
深圳中恒华发股份有限公司 2022 年半年度报告全文
Important other debt investment
Unit: RMB/CNY
Ending balance Opening balance
Other Creditor’s Real Real
Face Coupon Expiry Face Coupon Expiry
Rights Item interest interest
value rate date value rate date
rate rate
Provision for impairment accrual
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Bad debt provision the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance of 1 Jan. 2022
—— —— —— ——
in the period
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
Other note:
16. Long-term receivables
(1) Long-term receivables
Unit: RMB/CNY
Ending balance Opening balance
Discount
Item Book Bad debt Book Bad debt
Book value Book value rate range
balance provision balance provision
Bad debt provision impairment
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Bad debt provision the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance of 1 Jan. 2022
—— —— —— ——
in the period
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
(2) Long-term receivables derecognized due to the transfer of financial assets
(3) The amount of assets and liabilities formed by the transfer of long-term receivables and continued
involvement
Other note
17. Long-term equity investment
Unit: RMB/CNY
Openin Current changes (+, -) Ending Ending
Enterpr g Additio Capital Investm Other Other Cash Impair balance balance
Other
ise balance nal reducti ent compre equity dividen ment (book of
95
深圳中恒华发股份有限公司 2022 年半年度报告全文
(book investm on gain/los hensive change d or accrual value) depreci
value) ent s income profit ation
recogni adjustm announ reserve
zed ent ced to s
under issued
equity
I. Joint venture
II. Associated enterprise
Other note
18. Other equity instrument investment
Unit: RMB/CNY
Item Ending balance Opening balance
Itemized disclosure of investment in non-trading equity instruments for the current period
Unit: RMB/CNY
Reasons
designated as
The amount of Reason for
fair value
comprehensive transferring
Recognized measurement
Cumulative Accumulated income comprehensive
Item dividend and its changes
gain loss transferred to income to
income included in
retained retained
other
earnings income
comprehensive
income
Other note:
19. Other non-current financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Other note:
20. Investment real estate
(1) Investment real estate measured at cost
√ Applicable □ Not applicable
Unit: RMB/CNY
Construction in
Item House and building Land use right Total
process
I. Original book value
1. Opening balance 134,798,893.94 134,798,893.94
2. Current increased
(1) Outsourcing
(2) Inventory\fixed
assets\construction in
process transfer-in
(3) Increased by
combination
3. Current decreased
(1) Disposal
(2) Other transfer-out
96
深圳中恒华发股份有限公司 2022 年半年度报告全文
4. Ending balance 134,798,893.94 134,798,893.94
II. Accumulated
depreciation and
accumulated
amortization
1. Opening balance 88,607,116.14 88,607,116.14
2. Current increased 864,165.14 864,165.14
(1) Accrual or
864,165.14 864,165.14
amortization
3. Current decreased
(1) Disposal
(2) Other transfer-out
4. Ending balance 89,471,281.28 89,471,281.28
III. Impairment
provision
1. Opening balance
2. Current increased
(1) Accrual
3. Current decreased
(1) Disposal
(2) Other transfer-out
4. Ending balance
IV. Book value
1. Ending book value 45,327,612.66 45,327,612.66
2. Opening book value 46,191,777.80 46,191,777.80
(2) Investment real estate measured by fair value
□ Applicable √Not applicable
(3) Investment real estate without property certification held
Unit: RMB/CNY
Reason without property certification
Item Book value
held
Other note
21. Fixed assets
Unit: RMB/CNY
Item Ending balance Opening balance
Fixed assets 83,306,441.83 95,031,789.81
Disposal of fixed assets 99,973,684.42 92,857,471.69
Total 183,280,126.25 187,889,261.50
(1) Fixed asset
Unit: RMB/CNY
Item House Machinery Means of Office Instrument Tool Mold Total
97
深圳中恒华发股份有限公司 2022 年半年度报告全文
building equipment transportati equipment equipment equipment equipment
on
I. Original
book value
1. Opening 72,063,410 95,810,002 3,473,225. 8,470,322. 3,424,013. 9,766,024. 27,439,464 220,446,46
balance .41 .45 86 17 01 86 .52 3.28
2. Current 1,503,759. 1,503,759.
increased 73 73
(1) 1,503,759. 1,503,759.
Purchasing 73 73
(2)
Constructio
n in
process
transfer-in
(3)
Increased
by
combinatio
n
3. Current 17,472,879 18,159,963
7,822.14 42,777.24 636,484.30
decreased .92 .60
(1)
17,472,879 18,159,963
Disposal or 7,822.14 42,777.24 636,484.30
scrapping .92 .60
4. Ending 72,063,410 78,337,122 3,473,225. 8,462,500. 3,381,235. 9,129,540. 28,943,224 203,790,25
balance .41 .53 86 03 77 56 .25 9.41
II.
Accumulati
ve
depreciatio
n
1. Opening 22,443,385 66,166,210 1,467,827. 6,590,289. 2,881,961. 5,946,957. 19,918,041 125,414,67
balance .19 .12 24 96 79 87 .30 3.47
2. Current 1,372,440. 3,905,303. 1,477,365. 7,690,371.
40,471.06 159,101.19 165,847.79 569,841.46
increased 94 66 31 41
1,372,440. 3,905,303. 1,477,365. 7,690,371.
(1) Accrual 40,471.06 159,101.19 165,847.79 569,841.46
94 66 31 41
3. Current 12,132,347 12,621,227
38,190.65 127,945.12 307,465.30 15,278.41
decreased .82 .30
(1)
12,132,347 12,621,227
Disposal or 38,190.65 127,945.12 307,465.30 15,278.41
scrapping .82 .30
4. Ending 23,815,826 57,939,165 1,508,298. 6,711,200. 2,919,864. 6,209,334. 21,380,128 120,483,81
balance .13 .96 30 50 46 03 .20 7.58
III.
Depreciatio
n reserves
1. Opening
balance
2. Current
increased
(1) Accrual
3. Current
decreased
(1)
98
深圳中恒华发股份有限公司 2022 年半年度报告全文
Disposal or
scrapping
4. Ending
balance
IV. Book
value
1. Ending 48,247,584 20,397,956 1,964,927. 1,751,299. 2,920,206. 7,563,096. 83,306,441
461,371.31
book value .28 .57 56 53 53 05 .83
2. Opening 49,620,025 29,643,792 2,005,398. 1,880,032. 3,819,066. 7,521,423. 95,031,789
542,051.22
book value .22 .33 62 21 99 22 .81
(2) Temporarily idle fixed assets
Unit: RMB/CNY
Original book Accumulated Provision for
Item Book value Note
value depreciation impairment
(3) Fixed assets leasing-out by operational lease
Unit: RMB/CNY
Item Ending book value
(4) Fixed assets without property certification held
Unit: RMB/CNY
Reason without property certification
Item Book value
held
Other note
(5) Disposal of fixed assets
Unit: RMB/CNY
Item Ending balance Opening balance
Renovation of Gongming Huafa Electric
92,857,471.69 92,857,471.69
Town
Disposal of aged equipment and others 7,116,212.73
Total 99,973,684.42 92,857,471.69
Other explanation
22. Construction in process
Unit: RMB/CNY
Item Ending balance Opening balance
Construction in process 740,000.00 740,000.00
Total 740,000.00 740,000.00
(1) Construction in process
Unit: RMB/CNY
Ending balance Opening balance
Item
Book balance Impairment Book value Book balance Impairment Book value
99
深圳中恒华发股份有限公司 2022 年半年度报告全文
provision provision
Huafa Building
Reconstruction 240,000.00 240,000.00 240,000.00 240,000.00
Project
Gongming
Electronic City
500,000.00 500,000.00 500,000.00 500,000.00
Reconstruction
Project
Total 740,000.00 740,000.00 740,000.00 740,000.00
(2) Changes of major projects under construction
Unit: RMB/CNY
includi
Accum
Propor ng: Interes
Fixed ulated
Other tion of interes t
Openi Curren assets amoun
decrea Ending project t capital
ng t transfe Progre t of Sourceof
Item Budget sed in balanc invest capital ization
balanc increas r-in in ss interes funds
the e ment ized rate of
e ed the t
Period in amoun the
Period capital
budget t of the year
ization
year
(3) The provision for impairment of construction projects
Unit: RMB/CNY
Item Current accrual amount Accrual reason
Other note
(4) Engineering materials
Unit: RMB/CNY
Ending balance Opening balance
Item Provision for Book Provision for
Book balance Book value Book value
impairment balance impairment
Other note:
23. Right to use assets
Unit: RMB/CNY
Item House building Total
I. Original book value
1. Opening balance 313,948.08 313,948.08
2. Current increased
3. Current decreased
4. Ending balance 313,948.08 313,948.08
II. Accumulative depreciation
1. Opening balance 104,649.36 104,649.36
2. Current increased 52,324.68 52,324.68
(1) Accrual 52,324.68 52,324.68
3. Current decreased
(1) Disposal
100
深圳中恒华发股份有限公司 2022 年半年度报告全文
4. Ending balance 156,974.04 156,974.04
III. Depreciation reserves
1. Opening balance
2. Current increased
(1) Accrual
3. Current decreased
(1) Disposal
4. Ending balance
IV. Book value
1. Ending book value 156,974.04 156,974.04
2. Opening book value 209,298.72 209,298.72
Other note:
24. Intangible assets
(1) Intangible assets
Unit: RMB/CNY
Non-patented Computer
Item Land use right Patent right Total
technology software
I. Original book
value
1. Opening
55,415,814.36 3,172,234.92 58,588,049.28
balance
2. Current
increased
(1) Purchasing
(2) Internal R&D
(3) Increased by
combination
3. Current
498,858.97 498,858.97
decreased
(1) Disposal 498,858.97 498,858.97
4. Ending balance 55,415,814.36 2,673,375.95 58,089,190.31
II. Accumulated
amortization
1. Opening
18,096,524.31 1,210,523.98 19,307,048.29
balance
2. Current
722,744.45 139,090.94 861,835.39
increased
(1) Accrual 722,744.45 139,090.94 861,835.39
3. Current
499,329.60 499,329.60
decreased
(1) Disposal 499,329.60 499,329.60
4. Ending balance 18,819,269.00 850,285.32 19,669,554.08
III. Depreciation
reserves
1. Opening
109,427.90 109,427.90
balance
2. Current
increased
101
深圳中恒华发股份有限公司 2022 年半年度报告全文
(1) Accrual
3. Current
decreased
(1) Disposal
4. Ending balance 109,427.90 109,427.90
IV. Book value
1. Ending book
36,596,545.60 1,713,662.73 38,310,208.33
value
2. Opening book
37,319,290.05 1,852,283.04 39,171,573.09
value
The proportion of intangible assets form by internal R&D in total book value of intangible assets at period-end
(2) The situation of land use rights that have not completed the ownership certificate
Unit: RMB/CNY
Reason without property certification
Item Book value
held
Other note:
25. Development expenditure
Unit: RMB/CNY
Increase in the current period Decrease in the current period
Internal
Recognize Transferred
Opening developme Ending
Item d as into current
balance nt Other balance
intangible profit and
expenditur
assets loss
e
Total
Other note
26. Goodwill
(1) Goodwill original book value
Unit: RMB/CNY
Invested name Increase in the current period Decrease in the current period
or matters Opening Formed by
Ending balance
forming balance business Dispose
goodwill combination
Total
(2) Goodwill provision for impairment
Unit: RMB/CNY
Invested name Increase in the current period Decrease in the current period
or matters Opening
Ending balance
forming balance Accrual Dispose
goodwill
Total
102
深圳中恒华发股份有限公司 2022 年半年度报告全文
Information about the asset group or combination of asset groups where the goodwill is located
Explain the process of goodwill impairment testing, key parameters (such as the growth rate of the forecast period when the present
value of future cash flows are expected, the growth rate of the stable period, the profit rate, the discount rate, the forecast period, etc.)
and the confirmation method of the impairment loss of goodwill:
The impact of goodwill impairment testing
Other note
27. Long-term deferred expenses
Unit: RMB/CNY
Amortized in
Item Opening balance Current increased Other decreased Ending balance
Period
Lawyer fee 969,444.45 969,444.45
Amortization of
512,893.11 109,905.66 402,987.45
cloud service fees
Huafa Building
Central Air
150,787.00 150,787.00
Conditioning
Overhaul Project
China Telecom
Corporation
4,800.00 4,800.00
Limited Shenzhen
Branch
Huafa Building
Elevator Overhaul 53,333.33 53,333.33 0.00
Project
Total 1,691,257.89 163,238.99 1,528,018.90
Other explanation
28. Deferred income tax assets/Deferred income tax liabilities
(1) Deferred income tax assets without offset
Unit: RMB/CNY
Ending balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences assets differences assets
Provision for assets
29,705,573.64 6,946,556.32 29,705,573.64 6,946,556.32
impairment
Accrual liability 801,159.18 200,289.79 801,159.18 200,289.79
Deferred income 3,326,520.00 498,978.00 3,565,560.00 534,834.00
Total 33,833,252.82 7,645,824.11 34,072,292.82 7,681,680.11
(2) Deferred income tax liabilities that are not offset
Unit: RMB/CNY
Ending balance Opening balance
Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
(3) Amount of deferred income tax asset and deferred income tax liability after trade-off
Unit: RMB/CNY
103
深圳中恒华发股份有限公司 2022 年半年度报告全文
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Item deferred income tax
assets or liabilities assets and liabilities at assets or liabilities
assets and liabilities
after off-set period-begin after off-set
Deferred income tax
7,645,824.11 7,681,680.11
assets
(4) Deferred income tax asset without recognized
Unit: RMB/CNY
Item Ending balance Opening balance
Deductible temporary differences 3,163,837.81 3,163,837.81
Deductible loss 5,081,160.28 5,081,160.28
Total 8,244,998.09 8,244,998.09
(5) Deductible losses of un-recognized deferred income tax assets expired on the followed year
Unit: RMB/CNY
Year Ending amount Opening amount Note
2027 and future years
(applicable to high-tech
5,079,572.71 5,079,572.71
enterprises and technology-
based SMEs)
2026 1,587.57 1,587.57
2025
2024
2023
2022
Total 5,081,160.28 5,081,160.28
Other explanation:
29. Other non-current assets
Unit: RMB/CNY
Ending balance Opening balance
Item Book Impairment Book Impairment
Book value Book value
balance provision balance provision
Other explanation:
30. Short-term borrowings
(1) Category
Unit: RMB/CNY
Item Ending balance Opening balance
Mortgage loan 7,290,000.00
Secured portfolio loan 11,433,573.00 19,190,857.00
Total 11,433,573.00 26,480,857.00
Explanation on category of short-term loans:
104
深圳中恒华发股份有限公司 2022 年半年度报告全文
(2) Short-term loans that have been overdue and have not been repaid
The total amount of short-term loans that were overdue and not repaid at the end of the period was RMB 0.00,
and the important short-term loans that were overdue and not repaid are as follows:
Unit: RMB/CNY
Borrower Ending balance Borrowing rate Overdue time Overdue interest rate
Other note:
31. Trading financial liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Including:
Including:
Other note:
32. Derivative financial liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Other note:
33. Notes payable
Unit: RMB/CNY
Category Ending balance Opening balance
Bank acceptance draft 22,605,511.76 21,554,981.30
Total 22,605,511.76 21,554,981.30
Totally 0 Yuan due note payable are paid at period-end
34. Account payable
(1) Account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Within one year 84,279,098.42 76,362,296.93
Over one year 10,873,291.71 12,167,182.03
Total 95,152,390.13 88,529,478.96
(2) Major account payable over one year
Unit: RMB/CNY
Item Ending balance Reasons for non-payment or carry over
Shenzhen Yuehai Global Logistics Co.,
2,858,885.97 Without settlement
Ltd.
LG 1,906,267.50 Without settlement
Tokin Electronics (Nanjing) Plasma Co.,
617,963.45 Without settlement
Ltd.
Total 5,383,116.92 --
105
深圳中恒华发股份有限公司 2022 年半年度报告全文
Other explanation:
35. Accounts received in advance
(1) Accounts received in advance
Unit: RMB/CNY
Item Ending balance Opening balance
(2) Important accounts received in advance with account age over one year
Unit: RMB/CNY
Item Ending balance Reasons for outstanding or carry-over
Other note:
36. Contract liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Lease received in advance 4,250.00 473,034.32
Sales received in advance 269,268.20 263,321.38
Total 273,518.20 736,355.70
Amount and reasons for significant changes in book value during the reporting period
Unit: RMB/CNY
Item Change Amount Reason for change
37. Wage payable
(1) Wage payable
Unit: RMB/CNY
Increase during the Decrease during the
Item Opening balance Ending balance
period period
I. Short-term benefits 3,844,381.07 30,004,922.98 29,423,338.40 4,427,543.85
II. Post-employment
benefits-defined 2,923,103.38 2,923,103.38
contribution plans
III. Dismiss welfare 17,830.00 17,830.00
Total 3,844,381.07 32,945,856.36 32,364,271.78 4,427,543.85
(2) Short-term benefits
Unit: RMB/CNY
Increase during the Decrease during the
Item Opening balance Ending balance
period period
1. Wages,bonuses,
2,813,561.11 26,048,826.55 25,425,203.47 3,437,184.19
allowancesand subsidies
2. Employee benefits 51,391.40 2,419,193.30 2,460,442.70 10,142.00
3. Social insurance
22,287.98 1,304,063.69 1,304,852.79 23,077.08
premium
Including: 22,287.98 1,171,767.28 1,170,978.18 23,077.08
106
深圳中恒华发股份有限公司 2022 年半年度报告全文
Medical insurance
Work
50,802.86 50,802.86
injury insurance
Maternity
82,282.65 82,282.65
insurance
4. Housing
24,310.00 171,415.44 171,415.44 24,310.00
accumulation fund
5. Labor union
expenditure and
932,830.58 61,424.00 61,424.00 932,830.58
personnel education
expense
Total 3,844,381.07 30,004,922.98 29,423,338.40 4,427,543.85
(3) Defined contribution plans
Unit: RMB/CNY
Increase during the Decrease during the
Item Opening balance Ending balance
period period
1. Basic endowment
2,824,232.22 2,824,232.22
insurance
2. Unemployment
98,871.16 98,871.16
insurance
Total 2,923,103.38 2,923,103.38
Other explanation:
38. Taxes payable
Unit: RMB/CNY
Item Ending balance Opening balance
VAT 5,512,451.48 4,271,423.08
Corporate income tax 6,153,723.35 7,387,839.94
Individual income tax 9,766.38 22,943.65
Urban maintenance and construction tax 406,704.84 658,864.50
Property tax 588,618.67 544,525.98
Land use tax 251,640.57 107,577.53
Educational surtax 175,459.14 283,138.75
Local educational surtax 86,688.01 159,099.46
Dike fee 1,665.00 1,665.00
Stamp tax 27,875.10 34,839.80
Disposal fund of waste electrical
1,351,500.00 1,185,200.00
products
Total 14,566,092.54 14,657,117.69
Other explanation:
39. Other accounts payable
Unit: RMB/CNY
Item Ending balance Opening balance
Interest payable 93,178.03 113,080.26
Other payable 40,839,009.98 30,335,832.88
Total 40,932,188.01 30,448,913.14
107
深圳中恒华发股份有限公司 2022 年半年度报告全文
(1) Interest payable
Unit: RMB/CNY
Item Ending balance Opening balance
Interest of short-term loans payable 93,178.03 113,080.26
Total 93,178.03 113,080.26
Significant overdue and unpaid interest:
Unit: RMB/CNY
Loan unit Overdue amount Reason for overdue
Other explanation:
(2) Dividend payable
Unit: RMB/CNY
Item Ending balance Opening balance
Other note, including important dividends payable that have not been paid for more than 1 year, should disclose
the reasons for the non-payment:
(3) Other accounts payable
1) Other account payable by nature
Unit: RMB/CNY
Item Ending balance Opening balance
Margin & deposit 13,943,459.17 11,702,750.67
Lease management fee 3,647,788.39 3,647,788.39
Intercourse funds 13,732,977.24 5,411,882.45
After sale and repairmen 3,043,012.42 1,920,745.00
Energy consumption (Water, electricity
781,678.27 2,554,906.95
and steam)
Shipping 1,355,093.10 1,762,758.03
Reserve fund 1,300,000.00 1,300,000.00
Other 3,035,001.39 2,035,001.39
Total 40,839,009.98 30,335,832.88
2) Significant other account payable with over one year age
Unit: RMB/CNY
Item Ending balance Reasons for non-payment or carry over
Shenzhen SED Property Development
2,158,060.75 Without settlement
Co., Ltd.
Shenzhen Huayongxing Environmental
1,000,000.00 Deposit
Protection Technology Co., Ltd.
Linghang Technology (Shenzhen) Co.,
656,345.28 Without settlement
Ltd
Shenzhen Tongxing Electronics Co.,
578,259.83 Without settlement
Ltd.
Shenzhen Yongdasheng Investment
558,970.00 Deposit
Development Co., Ltd.
Total 4,951,635.86
Other explanation
Nil
108
深圳中恒华发股份有限公司 2022 年半年度报告全文
40. Non-current liabilities due within one year
Unit: RMB/CNY
Item Ending balance Opening balance
Long-term loans due within one year 55,000,000.00 61,000,000.00
Lease liabilities due within one year 104,400.61 104,400.61
Total 55,104,400.61 61,104,400.61
Other explanation:
41. Other current liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Unterminated confirmation on note
37,185,847.90 64,546,944.94
receivable
Pending sales tax 97,335.67
Total 37,185,847.90 64,644,280.61
Changes in short-term bonds payable:
Unit: RMB/CNY
Premiu
Repay
Interest m and
Bond Issue Openin ment in
Name Face Issue Current accrued discoun Ending
maturit Amoun g the
of bond value date issue at face t balance
y t balance current
value amortiz
period
ation
Total
Other explanation:
42. Long-term loans
(1) Category
Unit: RMB/CNY
Item Ending balance Opening balance
Description of Long-term loans classification:
Other explanation, including interest rate range:
43. Bonds payable
(1) Bonds payable
Unit: RMB/CNY
Item Ending balance Opening balance
(2) Changes in increase or decrease in bonds payable (excluding preferred stocks, perpetual bonds and
other financial instruments classified as financial liabilities)
Unit: RMB/CNY
Name Face Issue Bond Issue Openin Current Interest Premiu Repay Closing
109
深圳中恒华发股份有限公司 2022 年半年度报告全文
of bond value date maturit Amoun g issue accrued m and ment in balance
y t balance at face discoun the
value t current
amortiz period
ation
Total --
(3) Description of the conditions and time for the conversion of convertible corporate bonds
(4) Description of other financial instruments classified as financial liabilities
Basic situation of other financial instruments such as preferred stocks and perpetual bonds issued at the end of
the period
Changes in financial instruments such as preferred stocks and perpetual bonds issued at the end of the period
Unit: RMB/CNY
Financial Increase in the current Decrease in the current
Beginning of period Ending of period
instruments period period
issued Amount Book value Amount Book value Amount Book value Amount Book value
Explanation of the basis for the classification of other financial instruments into financial liabilities
Other note
44. Lease liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Lease liability 86,325.75 115,101.00
Total 86,325.75 115,101.00
Other note
45. Long-term payables
Unit: RMB/CNY
Item Ending balance Opening balance
(1) List long-term payables according to the nature of the payment
Unit: RMB/CNY
Item Ending balance Opening balance
Other note:
(2) Special accounts payable
Unit: RMB/CNY
Increase in the Decrease in the Cause of
Item Opening balance Ending balance
current period current period formation
Other note:
110
深圳中恒华发股份有限公司 2022 年半年度报告全文
46. Long-term Wages payable
(1) Long-term Wages payable
Unit: RMB/CNY
Item Ending balance Opening balance
(2) Changes in defined benefit plans
Present value of defined benefit plan obligations:
Unit: RMB/CNY
Item The Period Last Period
Plan assets:
Unit: RMB/CNY
Item The Period Last Period
Defined benefit plan net liabilities (net assets)
Unit: RMB/CNY
Item The Period Last Period
Description of the content of the defined benefit plan and related risks, the impact on the company's future cash
flow, time and uncertainty:
Explanation of major actuarial assumptions and sensitivity analysis results of defined benefit plans:
Other note:
47. Accrual liability
Unit: RMB/CNY
Item Ending balance Opening balance Causes
Pending action 801,159.18 801,159.18
Total 801,159.18 801,159.18
Other explanations, including important assumptions and estimation about important estimated liabilities:
48. Deferred income
Unit: RMB/CNY
Increase during Decrease during
Item Opening balance Ending balance Causes
the period the period
Government
3,565,560.00 239,040.00 3,326,520.00
subsidy
Total 3,565,560.00 239,040.00 3,326,520.00
Items involving Government subsidy:
Unit: RMB/CNY
Amount Amount Amount of
New
reckoned included cost and Assets-
subsidy
Opening in non- in other expense Other Ending related/Inc
Liability increased
balance operating income in offset in change balance ome-
in the
income in the current the current related
period
the period period period
Provincial
special 100,000.0 Assets-
1,400,000.00 1,300,000.00
fund for 0 related
transforma
111
深圳中恒华发股份有限公司 2022 年半年度报告全文
tion and
upgrading
of
traditional
industry
for 2018
Incentive
fund for
Wuhan
industrial
intelligent
Assets-
transforma 413,560.00 29,540.00 384,020.00
related
tion
demonstra
tion
project in
2019
Special
funds for
industrial
investment
and
technologi
109,500.0 Assets-
cal 1,752,000.00 1,642,500.00
0 related
transforma
tion and
intelligent
transforma
tion in
2020
Other explanation:
49. Other non-current liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Other note:
50. Share capital
Unit: RMB/CNY
Changes in the Period (+,-)
Shares
Opening Ending
Issuing new transfer from
balance Bonus shares Other Subtotal balance
shares public
reserves
283,161,227. 283,161,227.
Total shares
00 00
Other explanation:
112
深圳中恒华发股份有限公司 2022 年半年度报告全文
51. Other equity instruments
(1) Basic information of other financial instruments such as preferred stocks and perpetual bonds issued
at the end of the period
(2) Changes in financial instruments such as preferred stocks and perpetual bonds issued at the end of
the period
Unit: RMB/CNY
Financial Increase in the current Decrease in the current
Beginning of period Ending of period
instruments period period
issued Amount Book value Amount Book value Amount Book value Amount Book value
Other equity instruments' changes in the current period, explanations of the reasons for the changes, and the
basis for related accounting treatments:
Other note:
52. Capital public reserve
Unit: RMB/CNY
Increase during the Decrease during the
Item Opening balance Ending balance
period period
Capital premium
146,577,771.50 146,577,771.50
(equity premium)
Total 146,577,771.50 146,577,771.50
Other explanation, including changes and reasons of changes:
53. Treasury stocks
Unit: RMB/CNY
Increase in the current Decrease in the current
Item Opening balance Ending balance
period period
Other note, including changes in the current period and explanations of the reasons for the changes:
54. Other comprehensive income
Unit: RMB/CNY
The Period
Less:
Less: written
written in in other
other compreh
comprehen ensive
sive income
Account Belong to Endin
income in in Less: Belong to
Opening before minority g
Item previous previous income parent
balance income sharehold balanc
period and period tax company
tax in the ers after e
carried and expense after tax
year tax
forward to carried
gains and forward
losses in to
current retained
period earnings
in
113
深圳中恒华发股份有限公司 2022 年半年度报告全文
current
period
Other explanation, including the adjustment on initial recognition for arbitrage items that transfer from the
effective part of cash flow hedge profit/loss:
55. Surplus public reserve
Unit: RMB/CNY
Increase during the Decrease during the
Item Opening balance Ending balance
period period
Statutory surplus
77,391,593.25 77,391,593.25
reserves
Total 77,391,593.25 77,391,593.25
Other explanation, including changes and reasons for changes:
56. Retained profit
Unit: RMB/CNY
Item Current period Last period
Retained profit at the end of the previous period
-163,679,952.44 -170,881,854.46
before adjustment
Retained profit at period-begin after adjustment -163,679,952.44 -170,881,854.46
Add: net profit attributable to owners of the
8,806,785.10 6,989,362.48
parent company
Retained profit at period-end -154,873,167.34 -163,892,491.98
Details about adjusting the retained profits at the beginning of the period:
1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new
regulations affect the retained profits at the beginning of the period amounting to 0 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the period amounting to 0
Yuan.
3) The major accounting error correction affects the retained profits at the beginning of the period amounting to
0 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the period
amounting to 0 Yuan.
5) Other adjustments affect the retained profits at the beginning of the period amounting to 0 Yuan
57. Operating revenue and cost
Unit: RMB/CNY
Current Period Last Period
Item
Revenue Cost Revenue Cost
Main business 343,768,461.90 302,427,802.11 323,468,602.68 282,596,348.19
Other business 10,378,458.91 9,418,141.38 68,165,205.87 47,447,861.39
Total 354,146,920.81 311,845,943.49 391,633,808.55 330,044,209.58
Information relating to revenue:
Unit: RMB/CNY
Category Branch 1 Branch 2 Total
Product types
Including:
Display 201,380,980.94 201,380,980.94
114
深圳中恒华发股份有限公司 2022 年半年度报告全文
Plastic injection
92,476,910.14 92,476,910.14
hardware
Foam parts 22,509,819.38 22,509,819.38
Property lease 26,482,662.15 26,482,662.15
Material income 9,553,238.60 9,553,238.60
Utility bills and others 1,743,309.60 1,743,309.60
Classification by
business area
Including:
Domestic 303,461,034.26 303,461,034.26
Overseas 50,685,886.55 50,685,886.55
Market or customer
type
Including:
Contract types
Including:
Classification by time
of goods transfer
Including:
Classification by
contract duration
Including:
Classification by sales
channel
Including:
Total 354,146,920.81 354,146,920.81
Information relating to performance obligations:
Nil
Information related to the transaction price apportioned to the remaining performance obligations:
The amount of income corresponding to the performance obligations that have been signed at the end of this
reporting period but have not yet been fulfilled or have not done with fulfillment is 0.00 yuan, among them,
yuan of revenue is expected to be recognized in YEAR, yuan of revenue is expected to be recognized in YEAR,
and yuan of revenue is expected to be recognized in YEAR.
Other explanation
58. Tax and surcharges
Unit: RMB/CNY
Item Current Period Last Period
Urban maintenance and construction tax 524,812.63 53,181.85
Educational surtax 337,932.44 23,402.05
Property tax 803,504.10 671,892.72
Land use tax 140,595.85 380,897.71
Vehicle use tax 420.00
Stamp tax 225,040.10 283,562.58
Local education development fee 19,554.99 15,425.01
Total 2,051,860.11 1,428,361.92
Other explanation:
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深圳中恒华发股份有限公司 2022 年半年度报告全文
59. Sales expense
Unit: RMB/CNY
Item Current Period Last Period
Employee compensation 1,511,113.24 1,940,607.71
Customs fee 428,889.32 204,766.55
After-sales service fee 2,181,327.83 3,190,859.79
Business entertainment expense 103,382.79 264,119.35
Transportation fee 3,362,898.88 4,858,694.34
Commodity loss and others 1,915,546.51 3,635,570.22
Total 9,503,158.57 14,094,617.96
Other explanation:
60. Administrative expense
Unit: RMB/CNY
Item Current Period Last Period
Salary 4,569,059.54 6,033,625.10
Depreciation 1,034,235.99 1,259,331.29
Social security fee 1,196,121.34 1,182,922.32
Business entertainment expense 721,167.15 1,829,623.45
Employee benefits 451,211.62 1,205,669.37
Travel expenses 304,754.99 705,255.91
Depreciation and amortization cost 956,561.62 863,491.01
Transportation expenses 190,138.32 220,781.91
Intermediary agency service fee 1,392,751.91 2,163,145.90
Security fee 783,054.02 460,539.40
Repair cost 2,792,908.99 3,428,358.44
Office expenses 612,830.43 1,075,155.32
Communication fee 70,790.74 61,127.20
Securities Information Disclosure Fee 33,532.00 46,361.00
Environmental protection fee 312,500.95 47,617.53
Staff education and labor union funds 99,228.19 12,689.53
Water and electricity 262,980.96 284,729.15
Property insurance premium 145,636.56
Litigation fee 502,311.00
Other expenses 1,195,845.48 1,799,883.41
Total 17,627,621.80 22,680,307.24
Other explanation:
61. R& D expenses
Unit: RMB/CNY
Item Current Period Last Period
Personnel labor costs 3,349,821.11 3,424,760.68
Depreciation and amortization expense 461,134.94 437,009.74
Maintenance and inspection fees 972,301.14
Other related expenses 239,418.36 93,877.08
Total 5,022,675.55 3,955,647.50
Other explanation:
116
深圳中恒华发股份有限公司 2022 年半年度报告全文
62. Financial expense
Unit: RMB/CNY
Item Current Period Last Period
Interest costs 3,018,586.99 3,731,443.17
Less: Interest income -197,692.42 203,041.26
Exchange loss 1,232,863.24 4,068,036.84
Less: exchange gains 2,188,048.69 2,461,568.22
Handing expense 73,802.64 106,832.13
Total 1,940,816.62 5,241,702.86
Other explanation:
63. Other income
Unit: RMB/CNY
Sources Current Period Last Period
Three generations of fees refunds 4,283.81 3,553.35
Special funds of 2021 provincial foreign
3,500,000.00
trade and economic development
Special funds of 2021 provincial foreign
trade and economic development 575,800.00
(processing trade matters)
Special funds of 2020 Caidian District
Industrial enterprise technology 130,000.00
transformation
Special funds of 2021 Central foreign
economic and trade development (to
66,200.00
promote the development of foreign
trade SMEs)
Provincial special fund for
transformation and upgrading of 100,000.00
traditional industry for 2018
Incentive fund for Wuhan industrial
intelligent transformation demonstration 29,540.00
project in 2019
Special funds for industrial investment
and technological transformation and 109,500.00
intelligent transformation in 2020
Total 4,515,323.81 3,553.35
64. Investment income
Unit: RMB/CNY
Item Current Period Last Period
Financial income 180,088.19 149,767.58
Total 180,088.19 149,767.58
Other explanation:
65. Credit impairment loss
Unit: RMB/CNY
Item Current Period Last Period
Other explanation:
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深圳中恒华发股份有限公司 2022 年半年度报告全文
66. Losses on assets impairment
Unit: RMB/CNY
Item Current Period Last Period
II. Inventory falling price loss and
impairment loss of contract performance -1,350,000.00
cost
Total 0.00 -1,350,000.00
Other explanation:
67. Asset disposal income
Unit: RMB/CNY
Source of asset disposal income Current Period Last Period
Fixed assets disposal 789,308.26
68. Non-operating income
Unit: RMB/CNY
Amount included in current
Item Current Period Last Period
non-recurring profits or losses
Government subsidy 256,000.00
Handling fee and others 40,574.92 20,599.04 40,574.92
Total 40,574.92 276,599.04 40,574.92
Government subsidy reckoned into current gains/losses:
Unit: RMB/CNY
Subsidy
Assets-
impact The special
Issuing Offering Amount in Amount in related/Inc
Item Nature current subsidy
subject causes the Period last period ome-
gains/losse (Y/N)
related
s (Y/N)
Other explanation:
69. Non-operating expenditure
Unit: RMB/CNY
Amount included in current
Item Current Period Last Period
non-recurring profits or losses
Other 15,308.31 215,202.92 15,308.31
Total 15,308.31 215,202.92 15,308.31
Other explanation:
70. Income tax expense
(1) Statement of income tax expense
Unit: RMB/CNY
Item Current Period Last Period
Current income tax expense 2,858,046.44 1,584,720.39
Total 2,858,046.44 1,584,720.39
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深圳中恒华发股份有限公司 2022 年半年度报告全文
(2) Adjustment on accounting profit and income tax expenses
Unit: RMB/CNY
Item Current Period
Total profit 11,664,831.54
Income tax based on statutory/applicable rate 2,935,595.03
Impact by different tax rate applied by subsidies 77,548.59
Income tax expense 2,858,046.44
Other explanation
Nil
71. Other comprehensive income
See note
72. Annotation of cash flow statement
(1) Cash received with other operating activities concerned
Unit: RMB/CNY
Item The Period Last Period
Unit intercourse account 9,264,523.28 15,891,476.38
Repayment from employees 8,000.00 81,510.67
Margin and deposit 308,402.50 3,420.00
Interest income 41,205.46 30,133.34
Government subsidy 4,272,000.00 259,553.35
Total 13,894,131.24 16,266,093.74
Note of cash received with other operating activities concerned:
Nil
(2) Cash paid with other operating activities concerned
Unit: RMB/CNY
Item The Period Last Period
Unit intercourse account 17,410,896.15 19,499,576.94
Employee loan 2,418,943.00 47,686.67
Deposit and security deposit 310,606.20 1,804,581.00
Communication fee 315,763.72 165,926.34
Utility bill 1,791,131.38 4,662,103.00
Travel expenses 168,703.63 1,168,068.54
Shipping fee 3,191,066.04 2,706,778.65
Repair cost 1,114,725.46 1,369,952.77
Consultation fee 1,400,000.00
Office expenses 6,485.97 19,086.70
Communication fee 56,794.86 437,439.91
Other 13,359,474.93 18,919,703.62
Total 40,144,591.34 52,200,904.14
Note of cash paid with other operating activities concerned:
”Other” refers to note receivable margin, which is restricted funds.
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深圳中恒华发股份有限公司 2022 年半年度报告全文
(3) Cash received with other investment activities concerned
Unit: RMB/CNY
Item Current Period Last Period
Financial redemption 57,000,000.00
Total 57,000,000.00
Note of cash received with other investment activities concerned:
(4) Cash paid related with investment activities
Unit: RMB/CNY
Item Current Period Last Period
Investment and financial management 57,000,000.00
Total 57,000,000.00
Note of cash paid related with investment activities:
(5) Other cash received related to financing activities
Unit: RMB/CNY
Item Current Period Last Period
Description of other received cash related to financing activities:
(6) Cash paid related with financing activities
Unit: RMB/CNY
Item Current Period Last Period
Note of cash paid related with financing activities:
73. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
Unit: RMB/CNY
Supplementary information This Period Last Period
1. Net profit adjusted to cash flow of
operation activities:
Net profit 8,806,785.10 6,989,362.48
Add: Assets impairment provision 1,350,000.00
Depreciation of fixed assets,
consumption of oil assets and depreciation 7,690,371.41 5,855,066.65
of productive biology assets
Depreciation of right-of-use
52,324.68
assets
Amortization of intangible assets 362,505.79 875,257.88
Amortization of long-term deferred
163,238.99 114,127.72
expenses
Loss from disposal of fixed assets,
intangible assets and other long-term -789,308.26
assets (gain is listed with “-”)
Losses on scrapping of fixed assets
(gain is listed with “-”)
Gain/loss of fair value changes
120
深圳中恒华发股份有限公司 2022 年半年度报告全文
(gain is listed with “-”)
Financial expenses (gain is listed
1,940,816.62 5,241,702.86
with “-”)
Investment loss (gain is listed
-180,088.19 -149,767.58
with “-”)
Decrease of deferred income tax
35,856.00
asset ((increase is listed with “-”)
Increase of deferred income tax
liability (decrease is listed with “-”)
Decrease of inventory (increase is
24,485,039.16 -61,101,647.02
listed with “-”)
Decrease of operating receivable
28,321,886.92 97,224,785.91
accounts (increase is listed with “-”)
Increase of operating payable
-21,169,205.84 -78,217,258.49
accounts (decrease is listed with “-”)
Other
Net cash flows arising from
49,720,222.38 -21,818,369.59
operating activities
2. Material investment and financing not
involved in cash flow
Conversion of debt into capital
Switching Company bonds due within
one year
Financing lease of fixed assets
3. Net change of cash and cash
equivalents:
Balance of cash at period end 60,681,659.02 59,612,186.22
Less: Balance of cash equivalent at
32,802,562.90 60,968,053.58
year-begin
Add: Balance at year-end of cash
equivalents
Less: Balance at year-begin of cash
equivalents
Net increase of cash and cash
27,879,096.12 -1,355,867.36
equivalents
(2) Net cash payment for the acquisition of a subsidiary in the period
Unit: RMB/CNY
Amount
Including: --
Including: --
Including: --
Other note:
(3) Net cash received from the disposal of subsidiaries
Unit: RMB/CNY
Amount
Including: --
Including: --
Including: --
Other note:
(4) Constitution of cash and cash equivalent
Unit: RMB/CNY
Item Ending balance Opening balance
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深圳中恒华发股份有限公司 2022 年半年度报告全文
I. Cash 60,681,659.02 32,802,562.90
Including: Cash on hand 460.00 220,467.15
Bank deposit available for payment
75,664,154.16 32,582,095.75
at any time
III. Balance of cash and cash equivalent at
60,681,659.02 32,802,562.90
period-end
Other explanation:
74. Note of the changes of owners’ equity
Explain the items and amount at period-end adjusted for “Other” at end of the last year:
Nil
75. Assets with ownership or use right restricted
Unit: RMB/CNY
Item Ending book value Limited reason
Monetary fund 14,890,386.86 Note payable margin
Fixed assets 11,972,048.26 Collateral for borrowing
Intangible assets 6,463,333.15 Collateral for borrowing
Monetary fund 92,568.28 Judicial freeze
Investment real estate 33,323,610.66 Collateral for borrowing
Disposal of fixed assets 92,857,471.69 Court seizure
Total 159,599,418.90
Other explanation:
76. Item of foreign currency
(1) Item of foreign currency
Unit: RMB/CNY
Ending balance of foreign Ending RMB balance
Item Rate of conversion
currency converted
Monetary funds
Including: USD 144,521.39 6.6863 966,313.38
Euro
HKD
Account receivable
Including: USD 3,148,466.55 6.6863 21,051,591.91
Euro
HKD
Long-term loans
Including: USD
Euro
HKD
Other explanation:
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深圳中恒华发股份有限公司 2022 年半年度报告全文
(2) Explanation on foreign operational entity, including as for the major foreign operational entity,
disclosed main operation place, book-keeping currency and basis for selection; if the book-keeping
currency changed, explain reasons
□ Applicable √Not applicable
77. Government subsidy
(1) Government subsidy
Unit: RMB/CNY
Amount reckoned into current
Category Amount Item for presentation
gains/losses
Special funds of 2021
provincial foreign trade and 3,500,000.00 Other income 3,500,000.00
economic development
Special funds of 2021
provincial foreign trade and
575,800.00 Other income 575,800.00
economic development
(processing trade matters)
Special funds of 2020 Caidian
District Industrial enterprise 130,000.00 Other income 130,000.00
technology transformation
Special funds of 2021 Central
foreign economic and trade
development (to promote the 66,200.00 Other income 66,200.00
development of foreign trade
SMEs)
Provincial special fund for
transformation and upgrading
100,000.00 Other income 100,000.00
of traditional industry for
2018
Incentive fund for Wuhan
industrial intelligent
29,540.00 Other income 29,540.00
transformation demonstration
project in 2019
Special funds for industrial
investment and technological
109,500.00 Other income 109,500.00
transformation and intelligent
transformation in 2020
Three generation of fees 4,283.81 Other income 4,283.81
(2) Government grants rebate
□ Applicable √Not applicable
Other explanation:
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深圳中恒华发股份有限公司 2022 年半年度报告全文
VIII. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main operation Registration Share-holding ratio
Subsidiary Business nature Acquired way
place place Directly Indirectly
Wuhan Hengfa
Production & Investment
Technology Wuhan Wuhan 100.00%
sales establishment
Co., Ltd.
Shenzhen
Zhongheng
Property Investment
HUAFA Shenzhen Shenzhen 100.00%
management establishment
Property Co.,
Ltd
Shenzhen
HUAFA Property Investment
Shenzhen Shenzhen 100.00%
Hengtian Co., management establishment
Ltd.
Shenzhen
HUAFA Property Investment
Shenzhen Shenzhen 100.00%
Hengtai Co., management establishment
Ltd.
Shenzhen
HUAFA
Property Investment
Property Lease Shenzhen Shenzhen 100.00%
management establishment
Management
Co., Ltd
Hong Kong, Hong Kong, Equity
Ruth Co., Ltd. 100.00%
China China acquisition
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
Basis for controlling the invested entity with half or below voting rights held and without controlling invested entity but with over
half and over voting rights:
Major structured entity included in consolidates statement:
The scope of consolidate financial statement is determined on a control basis, which not only includes the subsidiaries determined
on the basis of voting rights themselves or in combination with other arrangements, but also structured subjects determined on the
basis of one or more contractual arrangements.
The control means that the Company owns a power over the investee, obtains variable returns through participation in the
investee’s related activities, and has the ability to use its power over the investee to influence the amount of variable returns. The
subsidiary is the subject that are controlled by the Company, the structured subjects are subjects that are not designed to have
voting rights as a determinant in determining the controlling party.
Basis of termination of agent or consignor:
Other explanation
124
深圳中恒华发股份有限公司 2022 年半年度报告全文
IX. Related party and related party transactions
1. Parent company of the enterprise
Share-holding
ratio on the Voting right ratio
Parent company Registration place Business nature Registered capital
enterprise for on the enterprise
parent company
Wuhan Production and
Zhongheng New sales, real estate
Science & development and
Wuhan 138,000,000.00 42.13% 42.13%
Technology sales, housing
Industrial Group leasing and
Co., Ltd management
Explanation on parent company of the enterprise
Nil
The ultimate control of the enterprise is Li Zhongqiu.
Other note:
2. Subsidiary of the Enterprise
Found more in VIII. Equity in other entity in the Note
3. Other related party
Other Related party Relationship with the Enterprise
Shenzhen Zhongheng Semiconductor Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Hengsheng Yutian Industrial Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Hengsheng Photo-electricity Industry Co., Ltd. Control by same controlling shareholder and ultimate controller
Hong Kong Yutian International Investment Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan New Oriental Real Estate Development Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Zhongheng Property Management Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Optical Valley Display System Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Yutian Dongfang Property Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Xiahua Zhongheng Electronics Co. Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Zhongheng Yutian Trading Co,, Ltd Control by same controlling shareholder and ultimate controller
Wuhan Yutian Hongguang Real Estate Co., Ltd. Control by same controlling shareholder and ultimate controller
Shenzhen Zhongheng Huayu Investment Holding Co., Ltd. Control by same controlling shareholder and ultimate controller
Famous Sky Capital Limited Control by same controlling shareholder and ultimate controller
Hong Kong Zhongheng Yutian Co., Ltd. Control by same controlling shareholder and ultimate controller
Shenzhen Zhongheng Yongye Technology Co., Ltd. Control by same controlling shareholder and ultimate controller
Shenzhen Yutian Hengrui Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Henglian Optoelectronics Co., Ltd. Control by same controlling shareholder and ultimate controller
Other note
4. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
Unit: RMB/CNY
Related party Content Current Period Trading limit Whether over the Last Period
125
深圳中恒华发股份有限公司 2022 年半年度报告全文
approved approved limited or
not (Y/N)
Hong Kong
Yutian
International Purchasing 32,093,434.47 127,514,000.00 N 37,751,811.11
Investment Co.,
Ltd.
Wuhan
Hengsheng
Purchasing 55,876,974.75 178,519,600.00 N 60,509,427.57
Photo-electricity
Industry Co., Ltd.
Total 87,970,409.22 306,033,600.00 N 98,261,238.68
Goods sold/labor service providing
Unit: RMB/CNY
Related party Content Current Period Last Period
Hong Kong Yutian
International Investment Co., Sales 35,680,578.23 62,100,265.79
Ltd.
Wuhan Hengsheng Photo-
Sales 28,513,041.72 17,319,716.68
electricity Industry Co., Ltd.
Total 64,193,619.95 79,419,982.47
Explanation on goods purchasing, labor service providing and receiving
(2) Related guarantee
As the guarantor
Unit: RMB/CNY
Completed or not
Secured party Amount guarantee Start End
(Y/N)
Wuhan Hengfa
36,000,000.00 2022-04-21 2026-04-21 N
Technology Co., Ltd.
As the secured party
Unit: RMB/CNY
Completed or not
Guarantor Amount guarantee Start End
(Y/N)
Li Zhongqiu 90,000,000.00 2019-07-01 2022-07-01 Y
Explanation on related guarantee
5. Receivable/payable items of related parties
(1) Receivable
Unit: RMB/CNY
Ending balance Opening balance
Item Related party
Book balance Bad debt provision Book balance Bad debt provision
Hong Kong
Yutian
Account
International 17,899,401.57 24,428,463.68
receivable
Investment Co.,
Ltd.
Wuhan Hengsheng
Account
Photo-electricity 12,099.44 13,902,449.94
receivable
Industry Co., Ltd.
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深圳中恒华发股份有限公司 2022 年半年度报告全文
Hong Kong
Yutian
Advance payment International 14,502,424.33
Investment Co.,
Ltd.
Total 32,413,925.34 38,330,913.62
(2) Payable
Unit: RMB/CNY
Item Related party Closing book balance Opening book balance
Wuhan Hengsheng Photo-
Accounts payable 21,924,311.63 17,295,609.05
electricity Industry Co., Ltd.
Hong Kong Yutian
Accounts payable International Investment Co., 10,025,769.59
Ltd.
Total 21,924,311.63 27,321,378.64
X. Commitments or contingency
1. Important commitments
Important commitments on balance sheet date
As of the date of this report, the company has no important commitments that should be disclosed but not
disclosed.
2. Contingency
(1) Contingency on balance sheet date
As of the date of this report, the company has no undisclosed contingencies that should be disclosed.
(2) For the important contingency not necessary to disclosed by the Company, explained reasons
The Company has no important contingency that need to disclosed
XI. Other important events
1. Previous accounting errors collection
(1) Retrospective restatement method
Unit: RMB/CNY
Names of report items in each
Correction of accounting errors Processing program Cumulative influence
comparison period affected
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深圳中恒华发股份有限公司 2022 年半年度报告全文
(2) Future applicable law
Reasons for adopting future applicable
Correction of accounting errors Approval procedure
law
2. Debt restructuring
3. Assets replacement
(1) Exchange of non-monetary assets
(2) Other asset replacement
4. Pension plan
5. Termination of operation
Unit: RMB/CNY
Termination of
operation profit
Income tax attributable to
Item Income Expense Total profit Net profit
expense owners of the
parent
company
Other note
6. Segment
(1) Recognition basis and accounting policy for reportable segment
(2) Financial information for reportable segment
Unit: RMB/CNY
Item Offset of segment Total
(3) If the company has no reportable segments or is unable to disclose the total assets and liabilities of
each reportable segment, it should state the reasons
(4) Other explanations
7. Major transaction and events makes influence on investor’s decision
8. Other
(1) The Company signed Asset Exchange Contract with Wuhan Zhongheng New Science & Technology Industrial Group Co., Ltd
(hereinafter referred to as Wuhan Zhongheng Group) on 29 April 2009 (details were referred to in the announcement dated 30 April
2009), and pursuant to the contract, since part of the assets of the Company (namely two parcel of industrial lands located at Huafa
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深圳中恒华发股份有限公司 2022 年半年度报告全文
road, Gongming town, Guangming new district, Shenzhen (the property certificate No. were SFDZ No.7226760 and SFDZ
No.7226763, No. of parcels were A627-005 andA627-007, and the aggregate area was 48,200 sq.m) were the lands listed in the first
batch of plan for 2010 Shenzhen urbanization unit planning preparation plan. For promotion of such urbanization project and joint
cooperation, the Company has not completed the transfer procedures in respect of the aforesaid land.
The Company convoked the first extraordinary meeting of the Board in 2015 on February 16, 2015 and the first extraordinary general
meeting of the Board in 2015 on March 4, 2015, which considered and approved the “Motion on promoting and implementing the
urban renewal project for the renewal units of Huafa area at Gongming street, Guangming new district, Shenzhen”, specified that the
Company and Wuhan Zhongheng Group shall obtain the corresponding compensatory consideration for removal from the
respectively owned project plots and the respectively contributed and constructed above-ground buildings before the land
development, it is estimated that the compensatory consideration obtained by the Company accounts for 50.5% of the total
consideration and Wuhan Zhongheng Group accounts for 49.5% by calculation.
The sixth extraordinary meeting of the board of directors in 2015 and the third extraordinary general meeting of 2015 have
considered and adopted the “Proposal on the project promotion and implementation of urban renewal and the progress of related
transactions of ‘the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen’”, the company has signed
the “Agreement on the cooperation of urban renewal project of the updated units at Huafa Area, Gong Ming Street, Guangming New
District, Shenzhen”, “Contract for the cooperative venture of reconstruction project for Huafa Industrial Park, Gong Ming Street,
Guangming New District” on 26 August 2015, and “Agreement on housing acquisition and removal compensation and resettlement”
with Wuhan Wuhan Zhongheng Group, Shenzhen Vanke Real Estate Co., Ltd. (hereinafter referred to as “Shenzhen Vanke”), and
Shenzhen Vanke Guangming Real Estate Development Co., Ltd. (hereinafter referred to as “Vanke Guangming”).
On 12 September 2016, Shenzhen Vanke applied for arbitration in respect of “Agreement on the cooperation of urban renewal
project of the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen” against the Company and Wuhan
Zhongheng Group. Shenzhen Court of International Arbitration (SCIA) has given a ruling in August 2017. On August 29, 2018, the
court accepted the compulsory execution application of Shenzhen Vanke. In October 2019, as a number of outsiders filed an
“execution objection” and applied for “no execution” to Shenzhen Intermediate People’s Court, the Shenzhen Intermediate People’s
Court ruled to terminate the enforcement procedure on March 20, 2020. If the “execution objection” and “no execution” proposed by
outsiders are rejected according to law, Shenzhen Vanke may continue to apply to the Shenzhen Intermediate People’s Court to
resume execution.
In April 2020, Zhongheng Semiconductor sued the company to Shenzhen Intermediate People’s Court, and requested the company to
transfer the above mentioned two pieces of lands and compensate the economic loss of 52 million yuan, the first and second trial
judgments reject the Semiconductor’s appeal; Zhongheng Semiconductor sued the Company and the invalid of “Agreement on the
cooperation of urban renewal project of the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”
signed by Wuhan Zhongheng Group Company and Vanke, the second trial rejects all claims of Zhongheng Semiconductor. Progress
of the case found more in the Notices released on Juchao website dated 14 Sept. 2016, 1 Nov. 2016, 16 Nov. 2016, on 18 Feb. 2017,
24 March 2017, 25 April 2017, 1 July 2017, 18 August 2017, 9 Feb. 2018, 25 Aug. 2018, 7 Sept. 2018, 21 Apr. 2020, 3 Jun, 2021, 22
Jul. 2021 and Mar. 5, 2022 respectively.
(2) On 31 December 2015, the 88,750,047 shares held by Wuhan Zhongheng Group, are pledge to China Merchants Securities Assets
Co., Ltd. with due date of 31 December 2016. On 1 Feb. 2016, Wuhan Zhongheng Group pledge the 27,349,953 shares held to China
Merchants Securities Assets Co., Ltd. with due date of 31 December 2016. The above-mentioned pledged shares are deferred by
Wuhan Zhongheng Group; pledge expired on 31 December 2017. The trading day for repurchase put off to the date when pledge
actually removed. Till end of this period released, controlling shareholder still not removed the pledge and the Company has apply by
129
深圳中恒华发股份有限公司 2022 年半年度报告全文
letter, relevant Notice of Presentment on Stock Pledge from Controlling Shareholder was released. Found more in notice released on
Juchao website date 2 Feb. 2018.
In March 2021, Wuhan Zhongheng Group received the judgment on case of “pledged securities repurchase dispute” brought by
China Merchants Securities Assets Management Co., Ltd from High People’s Court of Guangdong Province. Wuhan Zhongheng
Group appealed to the Supreme People’s Court against the decision. Found more in notice released on Juchao Website dated March
19, 2021.
(3) The controlling shareholder Wuhan Zhongheng Group holds 119,289,894 shares of the Company’ stock, accounting for 42.13%
of the total share capital of the Company, of which 116,489,894 shares were judicially frozen by Shenzhen Intermediate People's
Court (hereinafter referred to as "Shenzhen Intermediate Court") on September 27, 2016, which were frozen again by the Shenzhen
Intermediate People's Court on December 14, 2018, with a frozen period of 36 months; the remaining 2,800,000 shares were frozen
by the Shenzhen Intermediate People's Court on May 29, 2019, and were frozen again by the Higher People’s Court of Guangdong
Province on July 5, 2019. For details, please refer to the company’s announcements published on Juchao Website dated October 27,
2016, January 11, 2019, May 31, 2019 and August 7, 2019.
(4) On September 29, 2016, the company and its controlling shareholder, Wuhan Zhongheng Group, signed the “Agency Contract”
with V&T Law Firm. On October 8, 2016, the three parties also signed the “Supplemental Agreement for Agency Contract”, it was
agreed that V&T acted as an agent for the company and Wuhan Zhongheng Group to deal with the arbitration case with Shenzhen
Vanke. After losing the lawsuit, due to differences in the payment of attorney fees, V&T sued our company and Wuhan Zhongheng
Group to the Shenzhen Court of International Arbitration, and applied to the court to seize a bank account under our company’s name
and part of our company dormitories, please refer to “Other Announcements on the Progress Involving Litigation and Arbitration”
(Announcement Numbers: 2018-43, 2019-02) released on Juchao Website dated November 14, 2018 and March 6, 2019. In
November 2019, the Shenzhen Court of International Arbitration ruled that the company and Wuhan Zhongheng Group paid the
corresponding fees. According to the relevant agreement of the “Entrusted Agency Contract” and “Supplementary Agreement”
signed by the three parties, loss of the ruling in the case shall be fully borne by Wuhan Zhongheng Group, therefore, it has no impact
on the profit of the Company. Found more on “Other Announcements on the Progress Involving Litigation and Arbitration”
(Announcement No.: 2019-34) released on Juchao Website dated November 25, 2019.
(5) Business of the Company - Styrofoam is a traditional manufacturing industry. The industry has stepping into the maturity with
severe overcapacity, the oversupply leads to a low gross margin and downward trend of profitability of the Company’s products. The
“proposal to shut down the Styrofoam business from wholly-owned subsidiary” was deliberated and approved by the third interim
meeting of BOD of 2022. Closure of the plant is progressing steadily.
XII. Principle notes of financial statements of parent company
1. Account receivable
(1) Category of account receivable
Unit: RMB/CNY
Ending balance Opening balance
Category Bad debt Book Book
Book balance Book balance Bad debt provision
provision value value
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深圳中恒华发股份有限公司 2022 年半年度报告全文
Amoun Proport Amoun Accrua Amoun Proport Amoun Accrual
t ion t l ratio t ion t ratio
Account receivable
with bad debt 10,293, 100.00 10,293, 100.00 10,293, 100.00 10,293, 100.00
provision accrual 424.29 % 424.29 % 424.29 % 424.29 %
on a single basis
Including:
Including:
10,293, 100.00 10,293, 100.00 10,293, 100.00 10,293, 100.00
Total
424.29 % 424.29 % 424.29 % 424.29 %
Accrual of bad debt provision on single basis: 10,293,424.29
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Hong Kong Haowei
1,870,887.18 1,870,887.18 100.00% Uncollectible
Industrial Co., Ltd.
TCL ACE ELECTRIC
APPLIANCE
1,325,431.75 1,325,431.75 100.00% Uncollectible
(HUIZHOU) CO.,
LTD.
Qingdao Haier Parts
1,225,326.15 1,225,326.15 100.00% Uncollectible
Procurement Co., Ltd.
SKYWORTH
Multimedia 579,343.89 579,343.89 100.00% Uncollectible
(Shenzhen) Co., Ltd.
Shenzhen Huixin
Video Technology Co., 381,168.96 381,168.96 100.00% Uncollectible
Ltd.
Shenzhen Wandelai
Digital Technology 351,813.70 351,813.70 100.00% Uncollectible
Co., Ltd.
Shenzhen Dalong
344,700.00 344,700.00 100.00% Uncollectible
Electronic Co., Ltd.
Shenzhen Keya
332,337.76 332,337.76 100.00% Uncollectible
Electronic Co., Ltd.
Shenzhen Qunping
304,542.95 304,542.95 100.00% Uncollectible
Electronic Co., Ltd.
China Galaxy
Electronics (Hong 288,261.17 288,261.17 100.00% Uncollectible
Kong) Co., Ltd.
Dongguan Weite
274,399.80 274,399.80 100.00% Uncollectible
Electronic Co., Ltd.
Hong Kong New
Century Electronics 207,409.40 207,409.40 100.00% Uncollectible
Co., Ltd.
Shenyang Beitai
203,304.02 203,304.02 100.00% Uncollectible
Electronic Co., Ltd.
Beijing Xinfang Weiye
193,000.00 193,000.00 100.00% Uncollectible
Technology Co., Ltd.
TCL Electronics
145,087.14 145,087.14 100.00% Uncollectible
(Hong Kong) Co., Ltd.
Huizhou TCL Xinte
142,707.14 142,707.14 100.00% Uncollectible
Electronics Co., Ltd.
Sky Worth – RGB
133,485.83 133,485.83 100.00% Uncollectible
Electronic Co., Ltd.
Other 1,990,217.45 1,990,217.45 100.00% Uncollectible
Total 10,293,424.29 10,293,424.29 --
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 bad-debt
provisions:
□ Applicable √Not applicable
By account age
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深圳中恒华发股份有限公司 2022 年半年度报告全文
Unit: RMB/CNY
Account age Ending balance
Over 3 years 10,293,424.29
Over 5 years 10,293,424.29
Total 10,293,424.29
(2) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Including major amount bad debt provision that collected or reversal in the period:
Unit: RMB/CNY
Name Amount collected or reversal Way of collection
(3) Actual written-off accounts receivable in the current period
Unit: RMB/CNY
Item Written-off amount
Including the important accounts receivable written-off situation:
Unit: RMB/CNY
Whether the
Nature of Written-off payment is
Written-off
Name accounts Written-off reason procedure generated by
amount
receivable performed related party
transactions
Written-off description of accounts receivable:
(4) Top 5 account receivables collected by arrears party at ending balance
Unit: RMB/CNY
Ending balance of account Proportion in total account Ending balance of bad debt
Company
receivable receivables at period-end provision
Hong Kong Haowei
1,870,887.18 18.18% 1,870,887.18
Industrial Co., Ltd.
TCL ACE ELECTRIC
APPLIANCE (HUIZHOU) 1,325,431.75 12.88% 1,325,431.75
CO., LTD.
Qingdao Haier Parts
1,227,646.55 11.93% 1,227,646.55
Procurement Co., Ltd.
SKYWORTH Multimedia
579,343.89 5.63% 579,343.89
(Shenzhen) Co., Ltd.
Shenzhen Huixin Video
381,168.96 3.70% 381,168.96
Technology Co., Ltd.
Total 5,384,478.33 52.32%
(5) Account receivable derecognition due to financial assets transfer
(6) Assets and liabilities resulted by account receivable transfer and continues involvement
Other note:
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深圳中恒华发股份有限公司 2022 年半年度报告全文
2. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Other account receivable 95,039,705.78 92,468,697.71
Total 95,039,705.78 92,468,697.71
(1) Interest receivable
1) Category of interest receivable
Unit: RMB/CNY
Item Ending balance Opening balance
2) Significant overdue interest
Whether there is
Borrower Ending balance Overdue time Overdue reason impairment and its
judgment basis
Other note:
3) Accrual of bad debt provision
□ Applicable √Not applicable
(2) Dividend receivable
1) Category of dividend receivable
Unit: RMB/CNY
Item (or invested unit) Ending balance Opening balance
2) Important dividend receivable with account age over one year
Unit: RMB/CNY
Whether there is
Reasons for non-
Item (or invested unit) Ending balance Account age impairment and its
recovery
judgment basis
3) Accrual of bad debt provision
□ Applicable √Not applicable
Other note:
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深圳中恒华发股份有限公司 2022 年半年度报告全文
(3) Other account receivable
1) Other account receivable by nature
Unit: RMB/CNY
Nature Ending book balance Opening book balance
Intercourse funds 103,557,917.67 101,523,586.62
Borrow money 2,779,815.03 1,441,111.12
Margin & deposit 85,304.70 304,608.00
Rent receivable and utilities 7,001,429.97 6,999,971.21
Other 141,721.91 725,904.26
Less: Bad debt provision -18,526,483.50 -18,526,483.50
Total 95,039,705.78 92,468,697.71
2) Accrual of bad debt provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Bad debt provision the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance on1 Jan. 2022 18,526,483.50 18,526,483.50
Balance of 1 Jan. 2022
in the period
Balance on Jun. 30,
18,526,483.50 18,526,483.50
2022
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within one year (one year included) 16,763,629.05
1-2 years 4,969,630.70
2-3 years 73,307,622.03
Over 3 years 18,525,307.50
Over 5 years 18,525,307.50
Total 113,566,189.28
3) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written-off Other
reversal
Including the important amount collected or switches back in the period:
Unit: RMB/CNY
Name Amount collected or switches back Way of collection
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深圳中恒华发股份有限公司 2022 年半年度报告全文
4) The actual written-off other receivables in the current period
Unit: RMB/CNY
Item Written-off amount
Including the important written-off situation of other receivables:
Unit: RMB/CNY
Whether the
Written-off payment is
Nature of other Written-off
Name Written-off reason procedure generated by
receivables amount
performed related party
transactions
Description of other receivables written-off:
5) Top 5 other receivables collected by arrears party at ending balance
Unit: RMB/CNY
Proportion in total
Ending balance of
Company Nature Ending balance Account ages other receivables
bad debt provision
at period-end
Wuhan Hengfa
Within 1 year/1-2
Technology Co., Intercourse funds 79,365,808.06 69.89%
years/2-3 years
Ltd.
Shenzhen
Zhongheng
Intercourse funds 20,661,335.28 Within 1 year 18.19%
HUAFA Property
Co., Ltd
Shenzhen HUAFA
Property Leasing Rent receivable 4,559,659.15 Over 5 years 4.01% 4,559,659.15
Co., Ltd.
Portman Rent receivable 4,021,734.22 Over 5 years 3.54% 4,021,734.22
Jackfang
Rent receivable 1,380,608.00 Over 5 years 1.22% 1,380,608.00
Investment 1F 1076
Total 109,989,144.71 96.85% 9,962,001.37
6) Receivables involving government subsidies
Unit: RMB/CNY
Government subsidy Estimated time, amount
Name Ending balance Ending account age
item and basis of receipt
7) Other receivable for termination of confirmation due to the transfer of financial assets
8) The amount of assets and liabilities that are transferred other receivable and continued to be involved
Other note:
3. Long-term equity investments
Unit: RMB/CNY
Ending balance Opening balance
Item Provision for Provision for
Book balance Book value Book balance Book value
impairment impairment
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深圳中恒华发股份有限公司 2022 年半年度报告全文
Investment for
187,218,400.00 600,000.00 186,618,400.00 187,218,400.00 600,000.00 186,618,400.00
subsidiary
Total 187,218,400.00 600,000.00 186,618,400.00 187,218,400.00 600,000.00 186,618,400.00
(1) Investment for subsidiary
Unit: RMB/CNY
Changes in the period Closing
Opening Closing
The invested Accrual of balance of
balance Additional Reduce balance
entity impairment Other impairment
(Book value) investment investment (Book value)
provision provision
Wuhan
Hengfa 183,608,900. 183,608,900.
Technology 00 00
Co., Ltd.
Shenzhen
Zhongheng
HUAFA 1,000,000.00 1,000,000.00
Property Co.,
Ltd
Shenzhen
HUAFA
1,000,000.00 1,000,000.00
Hengtian Co.,
Ltd.
Shenzhen
HUAFA
1,000,000.00 1,000,000.00
Hengtai Co.,
Ltd.
Shenzhen
HUAFA
Property 600,000.00
Leasing Co.,
Ltd.
Ruth Co., Ltd. 9,500.00 9,500.00
186,618,400. 186,618,400.
Total 600,000.00
00 00
4. Operating revenue and cost
Unit: RMB/CNY
The Period Last Period
Item
Revenue Cost Revenue Cost
Other business 24,122,414.00 4,518,020.17 22,146,204.31 4,439,887.16
Total 24,122,414.00 4,518,020.17 22,146,204.31 4,439,887.16
Information relating to revenue:
Unit: RMB/CNY
Category Branch 1 Branch 2 Total
Product types
Including:
Property lease 22,853,967.50 22,853,967.50
Utility bill 1,268,446.50 1,268,446.50
Classification by
business area
Including:
Domestic 24,122,414.00 24,122,414.00
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深圳中恒华发股份有限公司 2022 年半年度报告全文
Market or customer
type
Including:
Contract types
Including:
Classification by time
of goods transfer
Including:
Classification by
contract duration
Including:
Classification by sales
channel
Including:
Total 24,122,414.00 24,122,414.00
Information relating to performance obligations:
Nil
Information relating to the transaction price assigned to the remaining performance obligation:
At end of the period, the corresponding revenue amount for performance obligations that have been signed but have not been
performed or have not been performed is 0.00 yuan, of which, yuan expected to recognized as revenue in the year.
Other explanation:
XIII. Supplementary Information
1. Current non-recurring gains/losses
√ Applicable □ Not applicable
Unit: RMB/CNY
Item Amount Note
Gains/losses from the disposal of non-
789,308.26
current asset
Governmental subsidy reckoned into
current gains/losses (except for those with
normal operation business concerned, and
conform to the national policies & 4,515,323.81
regulations and are continuously enjoyed
at a fixed or quantitative basis according to
certain standards)
Gain/loss of entrusted investment or assets
180,088.19
management
Other non-operating income and
expenditure except for the aforementioned 25,266.61
items
Less: Impact on income tax 854,130.71
Total 4,655,856.16 --
Details of other gains/losses items that meets the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
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深圳中恒华发股份有限公司 2022 年半年度报告全文
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss
in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public -
-- Extraordinary Profit/loss
□ Applicable √Not applicable
2. ROE and earnings per share
Earnings per share
Profits during report period Weighted average ROE Basic earnings per Diluted earnings per
share (RMB/Share) share (RMB/Share)
Net profits belong to common
stock stockholders of the 2.53% 0.0311 0.0311
Company
Net profits belong to common
stock stockholders of the
1.19% 0.0147 0.0147
Company after deducting
nonrecurring gains and losses
3. Difference of the accounting data under accounting rules in and out of China
(1) Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
138