深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
Stock Code: 000025,200025 No.: 2019-030
Short Form of Stock: Tellus A, Tellus B
Shenzhen Tellus Holding Co., Ltd.
Summary of Semi-Annual Report 2019
I. Important Notice
The summary of semi-annual report is excerpted from the full text of the semi-annual report. For the details, investors should
carefully read the full text of the semi-annual report published on Juchao Information website (www.cninfo.com.cn) and Shenzhen
Stock Exchange Website etc., appointed by CSRC.
Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of Shenzhen Tellus Holding 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.
All directors are attended the Board Meeting for report deliberation.
Prompt of non-standard audit opinion
□ Applicable √ Not applicable
Profit distribution pre-plan of common stock or capitalizing of common reserves pre-plan deliberated by the Board in the reporting
period
□ Applicable √ Not applicable
There is no plan of cash bonus, dividend distribution and capitalizing of common reserves carried out by the Company.
Profit distribution pre-plan of preferred stock deliberated and approved by the Board in the reporting period
□ Applicable √ Not applicable
II. Company profile
1. Company profile
Short form of the stock Tellus-A, Tellus-B Stock code 000025, 200025
Stock exchange for listing Shenzhen Stock Exchange
Person/Way to contact Secretary of the Board Rep. of security affairs
Name Qi Peng Sun Bolun
15/F, CNNC Building, Shennan Middle 15/F, CNNC Building, Shennan Middle
Office add.
Road, Futian District, Shenzhen Road, Futian District, Shenzhen
Tel. （0755）83989378 （0755）83989339
E-mail ir@tellus.cn sunbl@tellus.cn
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
2. Main financial data and indexes
Whether it has retroactive adjustment or re-statement on previous accounting data
□Yes √ No
Current period Same period of last year Changes over last year
Operating income (RMB) 278,268,739.33 197,955,081.73 40.57%
Net profit attributable to shareholders of
44,779,948.60 26,920,279.86 66.34%
the listed Company (RMB)
Net profit attributable to shareholders of
the listed Company after deducting 40,593,359.72 22,098,655.68 83.69%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
27,434,059.30 -28,070,468.11
activities (RMB)
Basic earnings per share (RMB/Share) 0.1039 0.0906 14.68%
Diluted earnings per share (RMB/Share) 0.1039 0.0906 14.68%
Weighted average ROE 4.17% 2.76% 1.41%
Changes over period-end of
Period-end Period-end of last year
last year
Total assets (RMB) 1,711,571,788.47 1,658,295,531.00 3.21%
Net assets attributable to shareholder of
1,094,989,485.95 1,050,209,537.35 4.26%
listed Company (RMB)
3. Number of shares and share-holding
In Share
Total preference shareholders
Total common stock shareholders in with voting rights recovered at
54,000 0
reporting period-end end of reporting period (if
applicable)
Top ten shareholders
Number of share
Full name of Nature of Proportion of Amount of
Amount of restricted shares held pledged/frozen
Shareholders shareholder shares held shares held
State of share Amount
Shenzhen
Special State-owned
49.09% 211,591,621 65,666,365 0
Development corporation
Group Co., Ltd.
Shenzhen
Capital Fortune Domestic non
Jewelry state-owned 19.89% 85,717,844 20,716,244 0
Industry corporate
Investment
Enterprise
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
(limited
partnership)
GUOTAI
JUNAN
Foreign
SECURITIES( 0.41% 1,746,091 548,787 0
corporation
HONGKONG)
LIMITED
Agricultural
Bank of China
Other 0.34% 1,463,324 684,483 0
Ltd. – CSI 500
ETF
Domestic
Li Guangxin 0.22% 964,513 203,352 0
nature person
Huang Domestic
0.11% 463,565 463,565 0
Xinchang nature person
Foreign nature
Ding Bingfang 0.11% 462,550 196,950 0
person
Domestic
He Xing 0.10% 444,135 144,035 0
nature person
China CITIC
Bank
Corporation
Limited -Jianxin
Other 0.10% 430,419 294,519 0
Securities 500
Index Enhanced
Investment
Fund
Foreign nature
Zeng Huiming 0.10% 419,920 224,920 0
person
Among the top ten shareholders, there exists no associated relationship between the state-owned
Explanation on associated legal person’s shareholders SDG, Ltd and other shareholders, and they do not belong to the
relationship among the top ten consistent actionist regulated by the Management Measure of Information Disclosure on Change
shareholders or consistent action of Shareholding for Listed Companies. For the other shareholders of circulation share, the
Company is unknown whether they belong to the consistent actionist.
Explanation on involving margin Shareholder Huang Xinchang holds 463,565 shares of the Company through security account for
credit transactions, and holds 0 share of the Company via common security account, 463,565
business (if applicable)
shares are held in total by Huang.
4. Changes of controlling shareholders or actual controller
Controlling shareholder changed in the Period
□ Applicable √ Not applicable
Controlling shareholders had no change in reporting period.
Actual controller changed in the Period
□ Applicable √ Not applicable
Actual controller had no change in reporting period.
5. Total preferred shareholders and top 10 shares held by preferred shareholders
□ Applicable √ Not applicable
The Company has no preferred shareholders
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
6. Corporate bond
Whether the Company has a corporation bonds that issuance publicly and listed on stock exchange and without due on the date when
semi-annual report approved for released or fail to cash in full on due
No
III. Discussion and analysis of operation
1. Operation status in the period
Does the Company need to comply with the disclosure requirements of the special industry
No
In the first half of 2019, the world economy was in a downturn, the OECD released the economic outlook for the
first half of 2019, it is expected that tariffs and uncertainties in trade will affect China's economic growth. In the
first quarter, China's GDP actually increased by 6.4%, which was lower than the same period of last year, the
GDP growth rate is 6.2% in the second quarter, the Chinese economy is still at the bottom stage. Affected by the
sluggish domestic economic environment, the automobile terminal retail market in 2018 showed its first decline in
28 years, in the first half of 2019, the production and sales volume decreased compared with the same period of
last year, the auto aftermarket faced a large downward pressure. The development trends of jewelry industry
showed great uncertainty, jewelers are holding a wait-and-see attitude towards industry development in 2019, the
industry is still in a downturn, SMEs are closed or changed the profession, the jewelry industry is undergoing
in-depth adjustment, the quantity demanded by commercial stores, office space, etc. is also correspondingly
reduced, the regional channel platform for the jewelry operated by our company and the resource-based asset
leasing are under great pressure.
In the face of the complicated economic situation in the first half of the year, Tellus Group has sailed in the head
tide, guided by the strugglers, fully motivated the employees and activated the kinetic energy of the enterprise;
intensively carried out all the key tasks, tapped the potential of old properties, and continued to lay out new
projects in the jewelry market, meanwhile, strictly maintained the bottom line of risk control to ensure that the
economic indicators of our company in the first half of the year exceeded the same period last year.
In the reporting period, the Company achieved operating income of 278.2687 million Yuan, an increase of
80.3136 million Yuan or 40.57% compared with 197.9551 million Yuan in the same period of last year; growth of
the income mainly due to the operation revenue from Phase I of Jewelry Building and income of jewelry
wholesale from Sichuan Jewelry Company. The total profit was 51.0208 million Yuan, an increase of 22.5665
million Yuan compared with 28.4543 million Yuan in same period of last year, net profit attributable to the parent
Company was 44.7799 million Yuan, an increase of 17.8596 million Yuan or 66.37% compared with 26.9203
million Yuan in the same period of last year.
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
2. Matters relevant to financial report
(1) Particulars about the changes in aspect of accounting policy, estimates and calculation method
compared with the accounting period of last year
√Applicable □ Not applicable
(1) Changes in Accounting policy
①Changes in accounting policies for execution of the new financial instrument standards
On March 31, 2017, the Ministry of Finance issued the Accounting Standards for Business Enterprises No. 22 -
Recognition and Measurement of Financial Instruments (Revised in 2017) (CK [2017] No. 7) and Accounting
Standards for Business Enterprises No. 23 - Transfer of Financial Assets (Revised in 2017) (CK [2017] No. 8),
Accounting Standards for Business Enterprises No. 24 - Hedge Accounting (Revised in 2017) (CK [2017] No. 9)
respectively, and issued Accounting Standards for Business Enterprises No. 37 – Financial Instruments
Presentation (Revised in 2017) (CK [2017] No. 14) on May 2, 2017 (the above-mentioned standards are
collectively referred to as the “New Financial Instruments Standards”), domestic listed companies are required to
implement the new financial instrument standards since 1 Jan. 2019.
Approved by the resolution of 2nd session of 9th BOD dated 1 April 2019, the Company will implement the above
mentioned new financial instrument standards since 1 Jan. 2019.
All recognized financial assets under the new financial instrument standard are subsequently measured at
amortized cost or fair value. On the implementation date of the new financial instrument standard, the business
model of managing financial assets is evaluated based on the facts and circumstances of the Company on the day,
and the contractual cash flow characteristics of the financial assets are evaluated based on the facts and
circumstances at the initial recognition of the financial assets. Financial assets are classified into three categories:
those measured at amortized cost, those measured at fair value and the changes are included in other
comprehensive income, and those measured at fair value and the changes are included in current profit or loss.
Among them, for the equity instrument investment measured at fair value and whose changes are included in other
comprehensive income, when the financial asset is derecognized, the accumulated gain or loss previously included
in other comprehensive income shall be transferred from other comprehensive income to retained earnings, but
not included in the current profit and loss.
Under the new financial instrument standard, the Company makes the impairment provision and confirms the
credit impairment losses for financial assets measured at amortized cost, debt instrument investments measured at
fair value and whose changes are included in other comprehensive income, lease receivables, contract assets and
the financial guarantee contracts based on expected credit losses.
The Company traces the application of the new financial instrument standards, but the Company chooses not to
restate the classification and measurement (including impairment) involving the inconsistency between the
previous comparative financial statement data and the new financial instrument standards. Therefore, for the
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
cumulative impact of the implementation of the standard for the first time, the Company adjusted the retained
earnings or other comprehensive income at the beginning of 2019 and the amount of other related items in the
financial statements, and the financial statements for 2018 didn’t restate it.
The main changes and impacts of the implementation of the new financial instruments standards on the Company
are as follows:
Some non-trading equity investments held by the Company on or after January 1, 2019 are designated as financial
assets measured at fair value and whose changes are included in other comprehensive income, and are presented
as other equity instrument investments.
A- Category and measuring contrast of the financial instrument after/before the date when initially
implementation
a- impact on consolidate financial statement
2018-12-31(before change) 2019-1-1(after change)
Item Measurement Book value Item Measurement Book value
category category
Measured by fair
value and with its
Measured by Other equity
Available-for-sale variation reckoned
cost (equity 10,176,617.20 instrument 10,176,617.20
financial assets into other
instrument) investment
comprehensive
income
Measured by
fair value and Measured by fair
with its value and with its
Other current Trading
variation 330,400,000.00 variation reckoned 330,400,000.00
assets financial assets
reckoned into into current
current gain/loss
gain/loss
b-impact on financial statement of the Company
2018-12-31(before change) 2019-1-1(after change)
Item Measurement Book value Item Measurement Book value
category category
Measured by fair
value and with its
Measured by Other equity variation
Available-for-sale
cost (equity 10,176,617.20 instrument reckoned into 10,176,617.20
financial assets
instrument) investment other
comprehensive
income
Measured by Measured by fair
fair value and value and with its
Other current Trading
with its 195,000,000.00 variation 195,000,000.00
assets financial assets
variation reckoned into
reckoned into current gain/loss
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
2018-12-31(before change) 2019-1-1(after change)
Item Measurement Book value Item Measurement Book value
category category
current
gain/loss
B- On first implementation day, adjustment statement of the category and measurement for former financial
instrument and those adjusted with new financial instrument standards
a- impact on consolidate statement
2018-12-31(befor 2019-1-1(after
Item Re-classified Re-measured
e change) change)
Measured by fair value and with its
variation reckoned into other
comprehensive income:
Available-for-sale financial assets
10,176,617.20
(former standard)
Less: transfer to other equity
10,176,617.20
instrument investment
Balance under new financial instrument
standard
Other equity instrument investment ——
Add: transfer in from available-for-sale
10,176,617.20 10,176,617.20
financial assets (former standard)
Balance under new financial instrument
10,176,617.20
standard
Measured by fair value and with its
variation reckoned into current
gain/loss:
Other current assets 332,432,494.44
Less: transfer to trading financial assets 330,400,000.00
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
2018-12-31(befor 2019-1-1(after
Item Re-classified Re-measured
e change) change)
Balance under new financial instrument
2,032,494.44
standard
Trading financial assets ——
Add: transfer-in from other current
330,400,000.00
assets
Balance under new financial instrument
330,400,000.00
standard
b. impact on financial statement of the Company
2018-12-31(befor 2019-1-1(after
Item Re-classified Re-measured
e change) change)
Measured by fair value and with its
variation reckoned into other
comprehensive income:
Available-for-sale financial assets
10,176,617.20
(former standard)
Less: transfer to other equity
10,176,617.20
instrument investment
Balance under new financial instrument
standard
Other equity instrument investment ——
Add: transfer in from available-for-sale
10,176,617.20 10,176,617.20
financial assets (former standard)
Balance under new financial instrument
10,176,617.20
standard
Measured by fair value and with its
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
2018-12-31(befor 2019-1-1(after
Item Re-classified Re-measured
e change) change)
variation reckoned into current
gain/loss:
Other current assets 195,506,958.35
Less: transfer to trading financial assets 195,000,000.00
Balance under new financial instrument
506,958.35
standard
Trading financial assets ——
Add: transfer-in from other current
195,000,000.00
assets
Balance under new financial instrument
195,000,000.00
standard
C- On first implementation day, adjustment on the impairment provision for financial assets
a- impact on consolidate statement
2018-12-31(before 2019-1-1(after
Measurement category Re-classified Re-measured
change) change)
Amortized cost:
Impairment of
20,000.00 20,000.00
held-to-maturity investment
Measured by fair value and
with its variation reckoned
into other comprehensive
income(equity instrument) :
Impairment provision for
—— 20,000.00 20,000.00
other creditors’ investment
(2) Changes of accounting estimate
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深圳市特力(集团)股份有限公司 2019 年半年度报告摘要
Contents, causes and applicable time points of Approval
Items impact Amount impact
accounting estimation change procedure
The Company considers the architectural design and
construction standards of newly completed buildings
and the accelerating update speed of computer
equipment, in order to make the company's
accounting estimates better conform to the actual use
of assets, more accurately reflect the period during
which assets provide economic benefits to enterprises
and the actual assets consumption of every term, and Fixed assets, Investment real
more objectively and truthfully reflect the company's Internal
estate, main business cost, 337,023.38
financial status and operating results, the resolution procedures
administrative expenses
of the second meeting of the 9th Board of Directors of
the Company on April 1, 2019 passed that the
Company would change the service life of buildings
from 35 years to 35-40 years and change the
depreciable life of computer equipment in electronic
equipment from 7 years to 5 years on the date of the
resolution.
(2) Particulars about retroactive restatement on major correction for accounting errors in reporting period
□ Applicable √ Not applicable
The Company had no particulars about retroactive restatement on major correction for accounting errors in the reporting period.
(3) Particulars about the change of consolidation range compared with the accounting period of last year
□ Applicable √ Not applicable
The Company had no particular about the change of consolidation range compared in reporting period.
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