深圳市特力(集团)股份有限公司 2020 年半年度报告全文
深圳市特力(集团)股份有限公司
SHENZHEN TELLUS HOLDING CO., LTD
Semi-Annual Report 2020
August 2020
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section I. Important Notice, Content and Interpretation
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.
Fu Chunlong, Principal of the Company, Lou Hong, person in charge of
accounting works and Liu Yuhong, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of Semi-Annual
Report 2020 is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
Securities Times, Hong Kong Commercial Daily and Juchao Website
(www.cninfo.com.cn) are the media for information disclosure appointed by the
Company, all information under the name of the Company disclosed on the
above said media shall prevail. Concerning the forward-looking statements with
future planning involved in the Report, they do not constitute a substantial
commitment for investors, and investors are advised to exercise caution of
investment risks.
The Company has no plan of cash dividends carried out, bonus issued and
capitalizing of common reserves either.
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Content
Section I. Important Notice, Content and Interpretation ..........................................................................................................................2
Section II Company Profile and Main Financial Indexes ........................................................................................................................5
Section III. Summary of Company Business ...........................................................................................................................................9
Section IV Discussion and Analysis of the Operation ........................................................................................................................... 13
Section V. Important Events .................................................................................................................................................................. 24
Section VI. Changes in Shares and Particulars about Shareholders ....................................................................................................... 38
Section VII. Preferred Stock .................................................................................................................................................................. 42
Section VIII. Convertible Bonds ........................................................................................................................................................... 43
Section IX. Directors, Supervisors and Senior Executives .................................................................................................................... 44
Section X. Corporate Bond .................................................................................................................................................................... 45
Section XI. Financial Report ................................................................................................................................................................. 46
Section XII. Documents Available for Reference ................................................................................................................................ 169
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Interpretation
Items Refers to Contents
CSRC Refers to China Securities Regulatory Commission
SZ Exchange Refers to Shenzhen Stock Exchange
Shenzhen Branch of China Securities Depository & Clearing Corporation
Shenzhen Branch of SD&C Refers to
Limited
Company, the Company, our Company,
Refers to Shenzhen Tellus Holding Co., Ltd.
Tellus Group
Reporting period, this reporting period, the
Refers to January to June of 2020
year
Auto Industry and Trade Company Refers to Shenzhen Auto Industry and Trade Corporation
Zhongtian Company Refers to Shenzhen Zhongtian Industrial Co,. Ltd.
Shenzhen Huari Toyota Auto Sales Co., Ltd, Shenzhen SDG Huari Auto
Huari Company Refers to
Enterprise Co., Ltd.
Huari Toyota Refers to Shenzhen Huari Toyota Auto Sales Co., Ltd
Zung Fu Tellus Refers to Shenzhen Zung Fu Tellus Auto Service Co., Ltd.
Dongfeng Company Refers to Shenzhen Dongfeng Motor Co., Ltd.
Tellus Starlight Refers to Anhui Tellus Starlight Jewelry Investment Co., Ltd.
Tellus Starlight Jinzun Refers to Anhui Tellus Starlight Jinzun Jewelry Co., Ltd.
Sichuan Channel Platform Company,
Refers to Sichuan Tellus Jewelry Tech. Co., Ltd.
Sichuan Jewelry Company
Xinglong Company Refers to Shenzhen Xinglong Machinery Mould Co., Ltd.
SDG Refers to Shenzhen Special Development Group Co., Ltd.
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section II Company Profile and Main Financial Indexes
I. Company profile
Short form of the stock Tellus-A, Tellus-B Stock code 000025, 200025
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
深圳市特力(集团)股份有限公司
Chinese)
Short form of the Company
特力 A
(in Chinese if applicable)
Foreign name of the Company
Shenzhen Tellus Holding Co.,Ltd
(if applicable)
Legal representative Fu Chunlong
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Qi Peng Sun Bolun
3/F, Tellus Building, No.56, Shui Bei Er Road, Luohu 3/F, Tellus Building, No.56, Shui Bei Er Road,
Contact add.
District, Shenzhen Luohu District, Shenzhen
Tel. (0755) 88394183 (0755)83989339
Fax. (0755)83989386 (0755)83989386
E-mail ir@tellus.cn sunbl@tellus.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 3/F, Tellus Building, No.56, Shui Bei Er Road, Luohu District, Shenzhen
Codes of the registration address 518001
Office address 3/F, 4/F, Tellus Building, No.56, Shui Bei Er Road, Luohu District, Shenzhen
Codes of the office address 518001
Website www.tellus.cn
E-mail ir@tellus.cn
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Date for provisional notice inquiry on appointed
18 January 2020
website (if applicable)
Index for provisional notice inquiry on
Juchao Website(www.cninfo.com.cn)
appointed website (if applicable)
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 2019
IV. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□ Yes √ No
Current period Same period of last year Changes over last year
Operating income (RMB) 197,051,790.29 278,268,739.33 -29.19%
Net profit attributable to shareholders of
25,594,985.78 44,779,948.60 -42.84%
the listed Company (RMB)
Net profit attributable to shareholders of
the listed Company after deducting 21,402,820.83 40,593,359.72 -47.28%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
17,306,322.20 27,434,059.30 -36.92%
activities (RMB)
Basic earnings per share (RMB/Share) 0.0594 0.1039 -42.83%
Diluted earnings per share (RMB/Share) 0.0594 0.1039 -42.83%
Weighted average ROE 1.99% 4.17% -2.18%
Changes over period-end of
Period-end Period-end of last year
last year
Total assets (RMB) 1,576,055,264.66 1,645,782,144.03 -4.24%
Net assets attributable to shareholder of
1,278,455,832.36 1,270,965,296.02 0.59%
listed Company (RMB)
V. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
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
In RMB
Item Amount Note
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to Mainly refers to the individual
52,846.70
national standards, which are closely relevant to enterprise’s income tax returns
business)
Except for effective hedge business relevant to normal operation
of the Company, gains and losses arising from fair value change
of tradable financial assets, derivative financial liabilities,
tradable financial liability and derivative financial liability and 4,003,521.31 Income from financial products
investment income from disposal of tradable financial assets,
derivative financial liabilities, tradable financial liability,
derivative financial liability and other debt investment
Restoring of receivable a and contractual assets impairment Restoring of the bad debt
599,201.43
provision that tested individually provision
Income from forfeiting the lease
Other non-operating income and expenditure except for the
917,047.44 deposit after the tenant returns
aforementioned items
the lease in advance
Less: Impact on income tax 858,601.74
Impact on minority shareholders’ equity (post-tax) 521,850.19
Total 4,192,164.95 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
the Public --- Extraordinary Profit/loss
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section III. Summary of Company Business
I. Main businesses of the Company in the reporting period
The main business of the Company during the reporting period was auto sales, auto testing, maintenance and
accessories sales; resource assets management and jewelry service business.
(1) Automobile sales, testing, maintenance and maintenance and accessories sales: In the first half of 2020, the
automobile market was greatly affected by the epidemic, the overall consumption momentum was insufficient,
and the consumption ability continued to weaken. Although there were government subsidy policies for
promotion, it has not completely recovered. FAW Toyota’s marketing strategy plus the “increased oil incident”
affected the sales in the first half of the year, and the impact of low prices caused by government subsidies and
auto shows still existed. During the reporting period, under adverse circumstances affected by the market
environment, the company carried out a variety of innovative marketing methods and other measures to increase
marketing efforts, and realized automobile sales revenue of 98,797,500 yuan, an increase of 24.67% over the same
period last year. The automobile inspection and maintenance and accessories sales revenue was 19,138,100 yuan,
a decrease of 20.77% over the same period last year.
(2) Resources assets management: Due to the continuing impact of the epidemic in the first half of the year,
demand in the property leasing market has dropped significantly, the vacancy rate is expected to rise further, and
the rents will continue to decline. At the same time, with the rise of remote office mode, commercial office leasing
is facing severe challenges. During the reporting period, in response to the sluggish market, on the one hand, the
company improved the quality of old properties to consolidate the basic capabilities of commercial operations; on
the other hand, it increased the activity promotions, relied on professional institutions, promoted internal
management improvements, and combined the in-depth impact of the epidemic to promptly launch favourable
investment policies to seize the market. During the reporting period, the company realized property rental and
services of 62,152,900 yuan, a decrease of 20.08% over the same period last year.
(3) Jewelry service business: Due to the uncertain impact of the epidemic, many merchants are lack of confidence,
some stop losses quickly, and some take a wait-and-see attitude on whether to continue to open stores. During the
reporting period, in the face of the declining industry situation, on the one hand, the company took multiple
measures to deeply explore the extension of the third-party comprehensive services of jewelry and innovate
business models; on the other hand, it strengthened risk monitoring to ensure the solid growth of state-owned
assets and investors increase. In order to reduce operating risks, the company reduced the business scale of the
Sichuan Channel Platform Company, coupled with the decline in the purchase quantity of jewelry customers
affected by the epidemic, in the first half of 2020, the cumulative operating revenue was 16,963,300 yuan, a
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
year-on-year decrease of 75,615,700 yuan, a decrease of 81.68% over the same period last year.
II. Major changes in main assets
1. Major changes in main assets
Major assets Note of major changes
Book value of long-term equity investment as of 30 June 2020 amounting to 170,700,400
Equity assets Yuan, increased 8,521,900 Yuan over that of period beginning with 5.25% up, mainly due
to the investment income from shareholding enterprise.
Fixed assets No major change
Intangible assets No major change
Book value of the construction in progress as of 30 June 2020 amounting to 74,408,200
Construction in progress Yuan, an increase of 26,753,800 Yuan over that of period-begin with 56.14% up. Mainly
due to the preliminary input for the project of Jinzuan Trading Building
Book value of the monetary fund as of 30 June 2020 amounting to 333,609,300 Yuan, a
decrease of 95,242,300 Yuan over that of period-begin with 22.21% down. Mainly
Monetary fund
because pay the corporate income tax on equity transfer for year of 2019, and distributed
the cash dividend and purchasing financial products.
Book value of the tradable financial assets as of 30 June 2020 amounting to 115,128,600
Tradable financial assets Yuan, an increase of 54,642,000 Yuan over that of period-begin with 90.34% up. Mainly
because purchase more financial products
Book value of account receivable as of 30 June 2020 amounting to 60,519,100 Yuan, a
Account receivable decrease of 52,094,100 Yuan over that of period-begin with -46.26% down, mainly
because the wholesale credit for jewelry decreased in the period
Book value of advance payment as of 30 June 2020 amounting to 17,088,100 Yuan, an
Advance payment increase of 4,404,500 Yuan over that of period-begin with 34.73% up, mainly due to the
increase of safe purchasing prepaid
Book value of other non-current assets as of 30 June 2020 amounting to 9,517,000 Yuan,
Other non-current assets an increase of 2,627,900 Yuan over that of period-begin with 38.15% up, mainly due to
the payment of decoration for Tellus Building
2. Main overseas assets
□ Applicable √ Not applicable
III. Core Competitiveness Analysis
(1) Owns rich property resources and provides stable business income
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
The output value of Shenzhen jewelry accounts for more than 70% of the national jewelry industry, and
Shuibei-Buxin area is the core gathering area of jewelry industry in Shenzhen, its output value accounts for more
than 70% of the jewelry industry in Shenzhen.We has formed the largest cluster of gold jewelry enterprises in the
country, covering the entire industry chain including raw material procurement, production and processing, and
wholesale sales, and the economic and strategic position and the core aggregation effects of this area in jewelry
industry have remained stable for many years.
According to the “13th Five-Year” plan for urban renewal in Luohu District, Shenzhen, Shuibei-Buxin area will be
built into the jewellery fashion industrial zone of Luohu District, Shuibei area is the international jewellery art
center and Buxin area is the jewellery intelligent high-end manufacturing center so as to form the Shuibei-Buxin
international jewellery eco-creative area. The company is the largest owner of the Tellus Gman Gold Jewellery
Industrial Park in Shuibei area, Tellus Shuibei Jewellery Building phase I has been put into use, and phase II
construction project has also been fully started. At the same time, as the largest owner of land parcels 04 & 05 in
the urban renewal unit planning project of Buxin industrial zone, the company will plan and construct an
innovative industrial project in line with the city, district and the Company’s overall strategic layout in Buxin area
through the renovation method. The company will maintain the status of the largest owner of Shuibei and Buxin
areas, and master the physical platform resource advantages of the core area of the jewelry industry.
At the same time, the Company has a lot of property resources in various areas of Shenzhen, on the basis of
maintaining the stability of the original leasing business, the company will actively promote the improvement of
property quality and transform its old properties from the traditional method of simple lease to the direction of
property asset operation so as to fully enhance and tap the added value of the property brand, bring stable business
income and cash flow to the company, and provide a solid foundation for the company’s long-term development.
(2) Make use of the advantages of status, build industrial platforms, and promote the development of the industry
In 2019, the release of the “Opinions of the State Council on Supporting Shenzhen to Build a Pioneering Socialist
Demonstration Zone with Chinese Characteristics” and the approval of the “Pilot Implementation Plan for
Shenzhen Regional State-owned Enterprises’ Comprehensive Reform” have created an unprecedented opportunity
for Shenzhen. As a state-owned holding enterprise group in Shenzhen, Tellus Group has outstanding resource
advantages.
This year, due to the COVID-19 and other unfavorable factors, the growth of the jewelry industry has continued to
slow down, and the industry has continued to show a trend of bottom shocks and undergo deep integration and
shuffle. Under such circumstances, the company’s identity advantages as a state-owned enterprise and a listed
company are highlighted, it has good credit qualifications and credit endorsement ability and also has good
relations with government departments and effective communication channels so that it can play the role of a
platform enterprise in the jewelry industry, aggregate the upstream and downstream of the jewelry industry chain,
act as a bridge and bond among the government and the private jewelry enterprises, the overseas and the domestic
suppliers, and the distributors, integrate industry needs, solve industry pain points, and strive for various policy
supports such as taxation, trade, and approval for industry enterprises, improve traditional model of the industry,
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
provide more comprehensive innovative services, promote the healthy development of the industry and achieve a
win-win situation for all parties while achieving its own social responsibility and rewarding the company’s
shareholders.
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section IV Discussion and Analysis of the Operation
I. Introduction
In the first half of 2020, the global spread of the novel coronavirus pneumonia epidemic severely hit international
business activities. The blockade and prevention and control measures of various countries have caused the
economy to stagnate or even decline, and the prospects for recovery are not optimistic. In response to the impact
of the epidemic on the economy, central banks have adopted the largest easing policies since the 2008 financial
crisis. According to the latest report of the World Bank, the global economy is expected to decline by 5.2% in
2020. Under the impact of the novel coronavirus epidemic, China's economy is gradually recovering along the
path of "production recovery - confidence rebuilding - demand recovery". Investment in new infrastructure has
increased, industrial production has gradually rebounded, PPI deflationary pressure has eased, and real estate,
automobiles, and exports are bright. However, demand for non-consumer goods is still sluggish, and economic
recovery still needs time.
In order to reduce the impact of the epidemic on the company, our company has actively implemented the "six
stability" and "six guarantees" spirits, fulfilled the responsibility of state-owned enterprises, reduced rents and fees
of more than 25 million yuan, fully tapped the potential, strictly controlled various expenses, and made a good
operational defense war in the first half of the year. During the reporting period, the Company achieved a business
revenue of 197.0518 million yuan, which decrease by 81.2169 million yuan or 29.19% compared with 278.2687
million yuan in the same period last year, revenue declined mainly because responding to the government’s call
for rent relief for tenants, the rental revenue decreased and as well as a decline in jewelry sales affected by the
epidemic. Total profit amounted to 33.219 million yuan, which decrease by 17.8018 million yuan compared with
51.0208 million yuan in the same period last year; net profit attributable to parent company amounted to 25.595
million yuan, which decrease by 19.1849 million yuan compared with 44.7799 million yuan in the same period
last year.
II. Main business analysis
See the “I-Introduction” in “Discussion and Analysis of the Operation”
Change of main financial data on a y-o-y basis
In RMB
Current period Same period of last year y-o-y changes (+,-) Reasons
Responding to the
government’s call for
Operation revenue 197,051,790.29 278,268,739.33 -29.19% rent relief for tenants, the
rental revenue decreased
and as well as a decline
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
in jewelry sales affected
by the epidemic
Cost reduced due to the
Operation costs 154,774,587.52 210,494,012.42 -26.47% decline of jewelry sales
for epidemic
Sales expense 6,776,144.54 9,358,514.29 -27.59%
Management expense 17,202,000.61 16,878,629.26 1.92%
Interest expenses
declined due to the
Financial expense -2,202,150.55 3,757,775.76
decrease of bank loans
on a y-o-y basis
Income tax expense 6,448,306.06 6,038,256.76 6.79%
1. Responding to the
government’s call for
Net cash flow arising rent relief for tenants; 2.
17,306,322.20 27,434,059.30 -36.92%
from operation activities cash flow paid for
enterprise income tax
declined
1. purchasing of financial
products increased on a
Net cash flow arising
y-o-y basis and 2.
from investment -88,258,570.72 54,510,161.97
preliminary input for
activities
Jinzuan Trading Building
project increased
At same period last year,
Zhongtain Company
return the borrowings of
Net cash flow arising projects, the cash
-24,778,202.09 -25,551,300.64
from financing activities out-flow declined on a
y-o-y basis, and there
was no such event
occurred in the year
Net increase of cash and
-95,730,362.19 56,392,930.47
cash equivalent
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period
Constitution of operation revenue
In RMB
Current period Same period last year y-o-y changes (+,-)
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Ratio in operation Ratio in operation
Amount Amount
revenue revenue
Total operation
197,051,790.29 100% 278,268,739.33 100% -29.19%
revenue
According to industries
Auto sales 98,797,491.83 50.14% 79,247,600.74 28.48% 24.67%
Auto inspection and
maintenance and 19,138,132.58 9.71% 24,156,408.72 8.68% -20.77%
accessories sales
Property rental and
62,152,861.68 31.54% 77,764,007.23 27.95% -20.08%
service
Wholesale and
16,963,304.20 8.61% 97,100,722.64 34.89% -82.53%
retails of Jewelry
According to products
Auto sales 98,797,491.83 50.14% 79,247,600.74 28.48% 24.67%
Auto inspection and
maintenance and 19,138,132.58 9.71% 24,156,408.72 8.68% -20.77%
accessories sales
Property rental and
62,152,861.68 31.54% 77,764,007.23 27.95% -20.08%
service
Wholesale and
16,963,304.20 8.61% 97,100,722.64 34.89% -82.53%
retails of Jewelry
According to region
Shenzhen 180,088,486.09 91.39% 181,168,016.69 65.11% -0.60%
Anhui 4,521,763.87 1.62% -100.00%
Sichuan 16,963,304.20 8.61% 92,578,958.77 33.27% -81.68%
About the industries, products, or regions accounting for over 10% of the Company’s operating income or operating profit
√Applicable □ Not applicable
In RMB
Increase/decrease Increase/decrease Increase/decrease
Operating
Operating cost Gross profit ratio of operating of operating cost of gross profit
revenue
revenue y-o-y y-o-y ratio y-o-y
According to industries
Auto sales 98,797,491.83 96,189,360.80 2.64% 24.67% 23.45% 0.96%
Auto inspection
19,138,132.58 16,287,281.23 14.90% -20.77% -16.58% -4.28%
and maintenance
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
and accessories
sales
Property rental
62,152,861.68 26,287,572.04 57.70% -20.08% 20.01% -14.13%
and service
Wholesale and
16,963,304.20 16,010,373.45 5.62% -82.53% -82.43% -0.51%
retails of Jewelry
According to products
Auto sales 98,797,491.83 96,189,360.80 2.64% 24.67% 23.45% 0.96%
Auto inspection
and maintenance
19,138,132.58 16,287,281.23 14.90% -20.77% -16.58% -4.28%
and accessories
sales
Property rental
62,152,861.68 26,287,572.04 57.70% -20.08% 20.01% -14.13%
and service
Wholesale and
16,963,304.20 16,010,373.45 5.62% -82.53% -82.43% -0.51%
retails of Jewelry
According to region
Shenzhen 180,088,486.09 138,764,214.07 22.95% -0.60% 16.27% -28.85%
Anhui 0.00% -100.00% -100.00% -6.75%
Sichuan 16,963,304.20 16,010,373.45 5.62% -81.68% -81.58% -0.90%
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
Affected by epidemic, revenue and costs of the jewelry wholesale and retails declined.
III. Analysis of non-main business
√Applicable □ Not applicable
In RMB
Amount Ratio in total profit Note Whether be sustainable
Investment income from
Investment income 12,881,490.50 38.78% shareholding enterprises and N
financing income
Redeem the unmatured
Gain/loss of fair
-356,102.35 -1.07% wealth management income N
value changes
at the end of 2019
Assets impairment 0.00 0.00% - N
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
1. Obtained government
subsidy due to the epidemic
Non-operation and 2. Income from
946,106.92 2.85% N
revenue forfeiting the lease deposit
after the tenant returns the
lease in advance
Non-operation
29,059.48 0.09% N
expenditure
Restoring of bad debt
Credit impairment 599,201.43 1.80% N
provision
IV. Analysis of assets and liability
1. Major changes of assets composition
In RMB
Period-end Period-end of last year
Ratio
Ratio in total Ratio in total Notes of major changes
Amount Amount changes
assets assets
333,609,309.6
Monetary fund 21.17% 225,905,191.16 13.20% 7.97%
2
Account
60,519,075.70 3.84% 113,548,299.77 6.63% -2.79%
receivable
Inventory 15,113,989.46 0.96% 16,798,362.97 0.98% -0.02%
Investment real 545,498,309.3 Transfer-in from the decoration amount
34.61% 494,163,460.21 28.87% 5.74%
estate 5 for Jewelry Building
Long-term equity 170,700,410.8
10.83% 153,819,742.68 8.99% 1.84%
investment 9
104,203,903.9
Fix assets 6.61% 109,620,846.65 6.40% 0.21%
5
Construction in the preliminary input for the project of
74,408,194.38 4.72% 22,707,214.36 1.33% 3.39%
process Jinzuan Trading Building
The borrowings are returned in total at
Short-term loans 0.00 0.00% 143,000,000.00 8.35% -8.35%
end of 2019
Long-term loans 0.00 0.00% 0.00 0.00% 0.00%
The profit distribution from
Dividend shareholding enterprises Dongfeng
39,647,732.42 2.52% 81,600,548.07 4.77% -2.25%
receivable Company and Pudong Development
Machinery
Assets held for 0.00% 85,017,251.77 4.97% -4.97% The former investment funds for
17
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
sale shareholding enterprise Xinglong
Company, and completed the equity
transfer at end of 2019
Adjustment for implementation of the
Other current
2,970,702.64 0.19% 42,208,745.54 2.47% -2.28% New Financial Instrument Standard in
assets
2019
The equity transfer funds of Xinglong
Other account
99,453,009.14 6.31% 271,599,091.34 15.87% -9.56% that to be recovered in the same period
payable
of last year, and no such event this year
2. Assets and liability measured by fair value
√ Applicable □Not applicable
In RMB
Accumulative
Changes of
changes of Impairment Amount of Amount of
Opening fair value Other Ending
Items fair value accrual in the purchase in sale in the
amount gains/losses changes amount
reckoned into Period the period period
in this period
equity
Financial
assets
1. Tradable
financial
assets
810,800,000. 755,800,000. 115,128,569
(excluding 60,486,575.34
00 00 .86
derivative
financial
assets)
4. Other
equity 10,176,617.
10,176,617.20
instruments 20
Investment
810,800,000. 755,800,000. 125,305,187
Above total 70,663,192.54 -358,005.48
00 00 .06
Financial
0.00 0.00 0.00
liabilities
Content of other changes
Whether there have major changes on measurement attributes for main assets of the Company in report period or not
□ Yes √No
18
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
3. Right of the assets restrained till end of the Period
Item Book value at period-end Restriction reasons
Monetary fund 28,671,414.00 (1)
Total 28,671,414.00
(1) End of 30 June 2020, the Company’s right to use of currency funds under restrictions is 28,671,414.00 Yuan, which is the
supervision fund paid by the Company to Luohu District Urban Renewal Bureau of Shenzhen for the land plot 03 project of the
upgrading project of Tellus-Gman Gold Jewelry Industrial Park. The currency funds with restricted use rights at the end of last year
were 28,183,348.23 Yuan.
V. Investment
1. Overall situation
□Applicable √ Not applicable
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 measured by fair value
√Applicable □Not applicable
In RMB
Cumulative
Initial Gain/loss of Amount Amount Cumulative
change of fair Ending Capital
Type investment fair value purchasing in selling in investment
value reckoned amount source
cost changes the Period the Period income
into equity
70,663,192 755,800,000 125,305,187
Other -358,005.48 0.00 810,800,000.00 598,686.99 Own funds
.54 .00 .06
70,663,192 755,800,000 125,305,187
Total -358,005.48 0.00 810,800,000.00 598,686.99 --
.54 .00 .06
19
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
5. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The Company had no securities investment in the reporting period.
(2) Derivative investment
□ Applicable √ Not applicable
The Company has no derivatives investment in the Period
VI. 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
VII. Analysis of main Holding Company and stock-jointly companies
√Applicable □ Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
In RMB
Company Main Register Operating Operating
Type Total assets Net assets Net profit
name business capital revenue profit
Shenzhen
Auto Sales of auto
RMB 58.96 373,829,523. 334,882,970. 3,509,253.
Industry and Subsidiary and 6,764,801.62 2,581,442.92
million 58 10 68
Trade accessories
Corporation
Auto
Shenzhen
maintenance
SDG Huari
and US$ 5 73,717,821.6 24,954,700.1 16,003,589.0
Auto Subsidiary 551,747.46 549,866.95
production million 6 1 1
Enterprise
and sales of
Co., Ltd.
accessories
Shenzhen Property RMB 632,478,145. 410,494,812. 31,003,603.4 16,864,184
Subsidiary 13,179,700.32
Zhongtian rental 366.2219 17 87 7 .62
20
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Industrial million
Co,. Ltd.
Shenzhen
Huari Toyota Automobile RMB 2 67,368,569.3 119,178,692. -213,105.0
Subsidiary 4,192,036.40 -3,930.02
Auto Sales Sales million 9 47 2
Co. Ltd
Shenzhen
Manufacture
Xinyongtong
of inspection
Auto Vehicle RMB 19.61 13,505,262.5
Subsidiary equipment 8,326,499.17 1,937,703.80 497,695.37 472,065.44
Inspection million 4
for motor
Equipment
vehicle
Co., Ltd.
Shenzhen
Tellus Inspection
Xinyongtong and repair of RMB 32.9 84,045,236.1 65,193,283.1 3,499,323.
Subsidiary 4,732,830.21 2,683,208.62
Automobile motor million 9 9 51
Development vehicle
Co. Ltd
Sichuan
Tellus Wholesale of RMB 150 154,097,291. 153,415,865. 16,963,304.2 2,652,318.
Subsidiary 2,017,572.52
Jewelry Tech. jewelry million 92 92 0 20
Co., Ltd.
Shenzhen
Tellus
Property RMB 14 15,344,257.3 12,818,879.7 -554,343.6
Chuangying Subsidiary 1,073,816.65 -554,344.35
rental million 8 8 2
Tech. Co.,
Ltd.
Anhui Tellus
Starlight
RMB 9.8 -1,228,757.3
Jewelry Subsidiary Jewelry sales 159,280.75 77,034.65 77,034.65
million 5
Investment
Co., Ltd.
Shenzhen
Zung Fu
Joint stock Car sales and RMB 30 268,923,388. 102,743,982. 542,501,386. 13,528,433
Tellus Auto 12,502,889.67
Company maintenance million 75 32 62 .80
Service Co.,
Ltd.
Manufacture
Shenzhen
and
Dongfeng Joint stock RMB 100 647,785,962. 163,979,281. 154,117,515.
maintenance 820,711.18 -345,684.65
Motor Co., Company million 69 27 10
of
Ltd.
automobile
21
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Investment in
Shenzhen
industry, RMB
Tellus Gman Joint stock 416,200,766. 148,432,955. 37,081,024.7 10,769,769
property 123.70496 8,079,274.57
Investment Company 15 80 4 .93
management million
Co., Ltd.
and leasing
Particular about subsidiaries obtained or disposed in report period
□Applicable √Not applicable
VIII. Structured vehicle controlled by the Company
□Applicable √Not applicable
IX. Prediction of business performance from January – September 2020
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
warning of its material change compared with the corresponding period of the last year and explanation on reason
□Applicable √ Not applicable
X. Risks and countermeasures
(1) The overall economic environment has a serious negative impact on company operations
Affected by the epidemic, the jewelry industry has shown a trend of sharp decline in market demand, a backlog of
upstream and downstream inventories, and a decline in corporate performance. At the same time, most of the
transportation channels for valuables from Hong Kong and other regions outside the country to China have
stagnated, which has seriously affected the circulation and transactions of diamond jewelry.
In response to this risk, the company will actively take various preventive measures. The first is to continue to
strengthen management, improve efficiency through scientific management, tap potential and increase revenue,
and comprehensively improve the profitability of the original business; the second, sort out the business, reduce
the business scale of regional platform with high risks, and insist on making progress while maintaining stability;
the third is to firmly promote the pace of strategic transformation of the company, promote the transformation of
the project through innovative business models, expand the incremental market, expand the scale of business, look
for new profit growth points, and provide a good foundation for the company’s long-term stable development.
(2)Risks brought by transforming into new areas
In recent years, the company has fully promoted the strategic goal of transforming into a third-party integrated
operation service provider in the jewelry industry, and many transformation projects have been implemented and
achieved good results. However, in the process of deeply cutting into the jewelry industry, the company has
become more and more aware of the difficulties and risks that will be faced in the transition to a new business
22
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
area. Whether we can realize the innovative integration of the traditional characteristics of jewelry industry and
the new technology and new model, how to meet the ever-changing individualized and diversified needs of
emerging consumer groups, and how to make a path of innovative development in the industry environment with
more fierce competition in market segment, these are all new challenges that the company needs to solve urgently
and put forward higher requirements for the company's resource integration capabilities, project management
capabilities and professional talent reserves in the transformation of business layout.
In response to this risk, on the one hand, the company will continue to strengthen the transformation conviction, in
accordance with the established overall development strategy and business strategy, fully demonstrate, prudently
make decisions, carry out fine management, make market-oriented operation, ensure that transformation projects
achieve good investment returns, and actively respond to market competition; on the other hand, the company will
steadily promote reform and innovation, and with the opportunity to complete the “Double Hundred Actions”,
explore and improve the company's long-term incentive mechanism, mobilize the enthusiasm of all employees,
improve the management level and operational efficiency of the enterprise, and effectively enhance the core
competitiveness of the enterprise.
23
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section V. Important Events
I. AGM and extraordinary general meeting
1. AGM held in the period
Participation ratio
Meeting Type Holding date Disclosure date Index
for investors
Notice No.:
2020-013 on
Securities Times,
First Extraordinary Extraordinary
Hong Kong
Shareholders Shareholders 66.01% 2020-03-23 2020-03-24
Commercial Daily
Meeting of 2020 Meeting
and Juchao Website
(www.cninfo.com.cn
)
Notice No.:
2020-025 on
Securities Times,
Annual General Hong Kong
AGM 65.97% 2020-04-24 2020-04-25
Meeting 2019 Commercial Daily
and Juchao Website
(www.cninfo.com.cn
)
Notice No.:
2020-032 on
Second Securities Times,
Extraordinary
Extraordinary Hong Kong
Shareholders 65.57% 2020-06-17 2020-06-18
Shareholders Commercial Daily
Meeting
Meeting of 2020 and Juchao Website
(www.cninfo.com.cn
)
2. Request for extraordinary general meeting by preferred stockholders with rights to vote
□Applicable √ Not applicable
II. Profit distribution plan and capitalizing of common reserves in the period
□ Applicable √ Not applicable
24
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
III. Commitments that actual controller, shareholder, related parties, buyer 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
Type of
Commitmen Commitmen Commitm Impleme
Commitments commitme Content of commitments
t party t date ent term ntation
nts
Commitments for
share merger reform
Commitments in
report of
acquisition or equity
change
Commitments in
assets reorganization
The commitments to the fulfillment of
information disclosure about the Company
business development are as follows: except
for the information has been disclosed
Shenzhen publicly, the Company has not had the
Commitments make in
Tellus disclosed information about asset acquisition Impleme
initial public offering Other 2014-10-17 Long-term
Holding Co., and business development that has not been nting
or re-financing
Ltd. disclosed within one year. In the future, the
Company shall timely, accurately and
adequately disclose the relevant information
according to the progress of new business and
the related requirements.
Equity incentive
commitment
In order to avoid the horizontal competition,
the Company’s controlling shareholder,
Shenzhen SDG has issued the “commitment
letter about the avoidance of horizontal
Shenzhen
competition” on May 26, 2014. The full
Other commitments Special Horizontal
commitment letter is as follows: 1. The Impleme
for medium and small Developmen Competiti 2014-05-26 Long-term
Company and other enterprises controlled by nting
shareholders t Group Co., on
the Company except Tellus Group haven’t
Ltd. (SDG)
occupied in any business that could
substantially compete with the main
businesses of Tellus Group, and have no
horizontal competition relationship with
25
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Tellus Group.
From 2020 to 2022, the Company’s profits
will first be used to cover the losses of
previous years; after making up for losses of
previous years, in the premise that the
Company’s profits and cash flow can meet the
Company's normal operations and long-term
development, reward shareholders, the
Company will implement positive profit
distribution approaches to reward the
shareholders, details are as follows: 1. The
Company’s profit distribution can adopt cash,
stock or the combination of cash and stock or
other methods permitted by law. The foreign
currency conversion rates of domestically
listed foreign shares dividend are calculated
according to the standard price of HK dollar
against RMB announced by People's Bank of
China on the first working day after the
resolution date of the shareholders' meeting.
2. According to the "Company Law" and
other relevant laws and the provisions of the
2022-12-3 Impleme
Company’s "Articles of Association", 2020-04-02
1 nting
following conditions should be satisfied when
the Company implements cash dividends: (1)
the Company's annual distributable profits
(i.e. the after-tax profits after making up for
losses and withdrawing accumulation funds)
are positive value, the implementation of cash
dividends will not affect the Company's
subsequent continuing operations; (2) the
audit institution issues the standard audit
report with clean opinion to the Company's
annual financial report; (3) the Company has
no significant investment plans or significant
cash outlay (except for fund-raising projects).
Major investment plans or significant cash
outlay refer to: the accumulated expenditures
the Company plans to used for investments
abroad, acquisition of assets, or purchase of
equipment within the next 12 months reach or
exceed 30% of the net assets audited in the
latest period. 3. In the premise of meeting the
conditions of cash dividends and ensuring the
26
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Company’s normal operation and long-term
development, the Company makes cash
dividends once a year in principle, the
Company’s board of directors can propose the
Company to make interim cash dividends in
accordance with the Company's profitability
and capital demand conditions. The
proportion of cash dividends in profits
available for distribution and in distribution of
profits should meet the following
requirements: (1) in principle, the Company’s
profits distributed in cash every year should
not be less than 10% of profit available for
distribution realized in the same year, and the
Company’s profits accumulatively distributed
in cash in the last three years should not be
less than 30% of the annual average profit
available for distribution realized in the last
three years. (2) if the Company’s development
stage belongs to mature stage and there is no
significant capital expenditure arrangement,
when distributing profits, the minimum
proportion of cash dividends in this profit
distribution should be 80%; (3) if the
Company’s development stage belongs to
mature stage and there are significant capital
expenditure arrangements, when distributing
profits, the minimum proportion of cash
dividends in this profit distribution should be
40%; (4) if the Company’s development stage
belongs to growth stage and there are
significant capital expenditure arrangements,
when distributing profits, the minimum
proportion of cash dividends in this profit
distribution should be 20%; when the
Company's development stage is not easy to
be differed but there are significant capital
expenditure arrangements, please handle
according to the preceding provisions. 4. On
the condition of meeting the cash dividend
distribution, if the Company's operation
revenue and net profit grow fast, and the
board of directors considers that the
Company’s equity scale and equity structure
27
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
are reasonable, the Company can propose and
implement the dividend distribution plans
except proposing the cash dividend
distribution plans. When allocating stock
dividend every time, the stock dividend per
10 shares should be no less than 1 share.
Stock allocation can be implemented
individually or in combination of cash
dividends. When confirming the exact amount
of profit distribution by stock, the Company
should fully consider if the general capital
after profit distribution by stock matches with
the Company’s current operation scale and
profit growth rate and consider the impact on
future financing so as to make sure the
allocation plans meet the overall interests of
all shareholders.
Completed on time
Y
(Y/N)
As for the
commitment out of the
commitment time,
Not applicable
explain the specific
reasons and further
plans
IV. Appointment and non-reappointment (dismissal) of CPA
Whether the semi-annual financial report had been audited
□Yes √ No
The semi-annual report was not audited
V. Explanation on “Qualified Opinion” from CPA by the Board and Supervisory Committee
□ Applicable √ Not applicable
VI. Explanation from the Board for “Qualified Opinion” of last year’s
□ Applicable √ Not applicable
28
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
VII. Bankruptcy reorganization
□ Applicable √ Not applicable
No bankruptcy reorganization in Period.
VIII. Lawsuits
Material lawsuits and arbitration
□ Applicable √ Not applicable
No material lawsuits and arbitration in the reporting
Other lawsuits
√Applicable □ Not applicable
Amount of
Advances in
The basic situation money The results and Execution of
Predicted litigation Disclosure Disclosure
of litigation involved (in effects of litigation the litigation
liabilities (Y/N) (Arbitration date index
(Arbitration) 10 thousand (Arbitration) (Arbitration)
)
Yuan)
The company paid
Labor disputes 519,000 yuan
52 No Case closed Executed -
(Xie Jianguang) compensation to the
appellant
Labor disputes
47 No Case closed Company wins - -
(Ma Baohong)
Waiting for
Leasing Contract
the
dispute (Zhang 2 No - - -
scheduled
Ning)
hearing
Jintian Company
paid 325,000 yuan to
32.5
Tellus Group within
(Orders
5 days from the
Disputes over include Wait for the
effective date of the
guarantee rights of 42,7604 A No verdict to -
judgment, and
recovery (Jintian) shares and take effect
delivered 427604 A
163,886 B
shares and 163886 B
shares)
shares of Jintian
Group.
IX. Media questioning
□Applicable √Not applicable
During the reporting period, the company had no media generally questioned matters.
29
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
X. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.
XI. Integrity of the Company and its controlling shareholders and actual controllers
√Applicable □ Not applicable
During the reporting period, the Company and the controlling shareholders and the actual controllers have had good reputation, and
there is no large amount due un-liquidated debt sentenced by the court.
XII. Implementation of the Company’s stock incentive plan, employee stock ownership plan
or other employee incentives
□Applicable √ Not applicable
During the reporting period, the Company has no stock incentive plan, employee stock ownership plan or other employee incentives
that have not been implemented.
XIII. Major related transaction
1. Related transaction with routine operation concerned
√Applicable □ Not applicable
Whether
Trading
Related over the
Content transacti Proporti limit Clearing Availabl Index
Type of approve Date of
of Pricing Related on on in approve form for e similar of
Related Relation related
related principl transacti amount similar d related disclosu
party ship transacti
transacti e on price (in 10 transacti d (in 10 transacti market disclos
on limited re
on thousan ons (%) thousan on price ure
d Yuan) or not
d Yuan)
(Y/N)
Shenzhe Director
n Zung /Supervi
By
Fu sor/ SE Routine Providin Referen
contract
Tellus serves related g ce to
169.44 169.44 15.58% 545 N or 169.44
Auto director transacti property market
agreeme
Service of the ons leasing price
nt
Co., Compan
Ltd. y
Shenzhe Subsidia By
Routine Providin Referen
n SD ry of the contract
related g ce to
Tellus controlli 2.54 2.54 0.23% 10 N or 2.54
transacti property market
Property ng agreeme
ons leasing price
Manage sharehol nt
30
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
ment der
Co.,
Ltd.
Providin
Shenzhe Subsidia g
By
n SDG ry of the Routine property Referen
contract
Petty controlli related leasing ce to
62.07 62.07 5.71% 140 N or 62.07
Loan ng transacti and market
agreeme
Co., sharehol ons manage price
nt
Ltd. der ment
service
Jewelry
Park Sub-sub
Branch sidiary By
Routine Referen
of of Offering contract
related ce to
Shenzhe controlli property 89.80 89.8 8.26% 151.36 N or 89.80
transacti market
n SDG ng renal agreeme
ons price
Service sharehol nt
Co., der
Ltd.
Shenzhe
Subsidia Accept
n SDG By
ry of the Routine engineer Referen
Enginee contract
controlli related ing ce to
ring 63.76 63.76 5.86% 532.02 N or 63.76
ng transacti supervis market
Manage agreeme
sharehol ons ion price
ment nt
der service
Co., Ltd
Shenzhe
n SD Subsidia Accepti
By
Tellus ry of the Routine ng Referen
contract
Property controlli related property ce to
700.15 700.15 64.37% 1,400.31 N or 700.15
Manage ng transacti manage market
agreeme
ment sharehol ons ment price
nt
Co., der service
Ltd.
Total -- -- 1,087.76 -- 2,778.69 -- -- -- -- --
Detail of sales return with major
N/A
amount involved
Report the actual implementation of
the normal related transactions which
Performing normally
were projected about their total
amount by types during the reporting
31
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
period (if applicable)
Reasons for major differences
between trading price and market Not applicable
reference price (if applicable)
2. Related transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in 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
Whether has non-operational contact of credit and debts or not
√Yes □No
Debts payable to related party:
Balance at Current Current Current Balance at
period-begin newly added recovery interest period-end
Related party Relationship Causes Interest rate
(10 thousand (10 thousand (10 thousand (10 thousand (10 thousand
Yuan) Yuan) Yuan) Yuan) Yuan)
Shenzhen
Loans
Special
Controlling interests of
Development 1,738 7 1,745
shareholder Huari
Group Co.,
Company
Ltd.
Shenzhen
Loan
Special
Controlling principal of
Development 300 300
shareholder Huari
Group Co.,
Company
Ltd.
Impact on operation results
Total profit decreased 70,000 Yuan due to the interest expenses increased in the Year
and financial status
5. Other related transactions
□Applicable √Not applicable
No other related transaction in Period
32
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
XIV. Non-business capital occupying by controlling shareholders and its related parties
□ Applicable √ Not applicable
No non-business capital occupied by controlling shareholders and its related parties in Period
XV. Significant contract and implementations
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
No trusteeship for the Company in reporting period
(2) Contract
□ Applicable √ Not applicable
No contract for the Company in reporting period
(3) Leasing
□ Applicable √ Not applicable
No leasing for the Company in reporting period
2. Major guarantees
√Applicable □ Not applicable
(1) Guarantees
In 10 thousand Yuan
Particulars about the external guarantee of the Company and its subsidiary (Barring the guarantee for subsidiaries)
Related Guarante
Name of the Announce e for
Guarantee Actual date of Actual Guarantee Guarantee Implemen
Company ment related
limit happening guarantee limit type term ted (Y/N)
guaranteed disclosure party
date (Y/N)
To the expire
Shenzhen Zung Fu
date of joint
Tellus Auto 2014-09-30 3,500 2007-04-17 3,500 Pledge N Y
venture
Service Co., Ltd.
contract
Total actual occurred external
Total approving external
0 guarantee in report period 3,500
guarantee in report period (A1)
(A2)
33
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Total approved external Total actual balance of
guarantee at the end of report 3,500 external guarantee at the end 3,500
period (A3) of report period (A4)
Guarantee of the Company and the subsidiaries
Guarante
Related
e for
Name of the Announce Implemen
Guarantee Actual date of Actual Guarantee Guarantee
Company ment related
limit happening guarantee limit type term ted (Y/N)
guaranteed disclosure
party
date
(Y/N)
Total amount of actual
Total amount of approving
occurred guarantee for
guarantee for subsidiaries in 0 0
subsidiaries in report period
report period (B1)
(B2)
Total balance of actual
Total amount of approved
guarantee for subsidiaries at
guarantee for subsidiaries at the 0 0
the end of reporting period
end of reporting period (B3)
(B4)
Guarantee of the subsidiaries and the subsidiaries
Guarante
Related
e for
Name of the Announce Implemen
Guarantee Actual date of Actual Guarantee Guarantee
Company ment related
limit happening guarantee limit type term ted (Y/N)
guaranteed disclosure
party
date
(Y/N)
Total amount of actual
Total amount of approving
occurred guarantee for
guarantee for subsidiaries in 0 0
subsidiaries in report period
report period (C1)
(C2)
Total balance of actual
Total amount of approved
guarantee for subsidiaries at
guarantee for subsidiaries at the 0 0
the end of reporting period
end of reporting period (C3)
(C4)
Total amount of guarantee of the Company (total of three above mentioned guarantee)
Total amount of approving Total amount of actual
guarantee in report period 0 occurred guarantee in report 3,500
(A1+B1+C1) period (A2+B2+C2)
Total amount of approved Total balance of actual
guarantee at the end of report 3,500 guarantee at the end of report 3,500
period (A3+B3+C3) period (A4+B4+C4)
The proportion of the total amount of actually guarantee in the
2.74%
net assets of the Company (that is A4+ B4+C4)
Amount of guarantee for shareholders, actual controller and its
0
related parties (D)
The debts guarantee amount provided for the guaranteed
0
parties whose assets-liability ratio exceed 70% directly or
34
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
indirectly (E)
Proportion of total amount of guarantee in net assets of the
0
Company exceed 50% (F)
Total amount of the aforesaid three guarantees (D+E+F) 0
Explanations on possibly bearing joint and several liquidating
N/A
responsibilities for undue guarantees (if applicable)
Explanations on external guarantee against regulated
N/A
procedures (if applicable)
(2) Guarantee outside against the regulation
□Applicable √ Not applicable
No guarantee outside against the regulation in Period.
3. Trust financing
√Applicable □Not applicable
In 10 thousand Yuan
Type Capital resources Amount for entrust Balance un-expired Overdue amount
Bank financing product Own funds 40,300 11,500 0
Total 40,300 11,500 0
Details of the single major amount, or high-risk trust investment with low security, poor fluidity and non-guaranteed
□Applicable √Not applicable
Entrust financial expected to be unable to recover the principal or impairment might be occurred
□Applicable √Not applicable
4. Other material contracts
□ Applicable √ Not applicable
No other material contracts for the Company in reporting period.
XVI. Social responsibility
1. Major environmental protection
Listed Company and its subsidiary belong to the key pollution enterprise listed by Department of Environmental Protection
No
35
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
2. Targeted poverty alleviation social responsibility
(1) Targeted measures in poverty alleviation
During the period, the Company participates in the targeted measures in poverty alleviation for Libai Village, Shangguang Town,
Dongyuan County, Heyuan City, Guangdong Province.
(2) Semi-annual poverty alleviation
The Company is concerned about the mountainous areas, takes the initiative to assume social responsibilities for poverty alleviation.
According to the arrangement, the Company is responsible for the hard bottoming and widening of village roads and the hard
bottoming of roads for transporting of Libai village. The project has begun on 29 December 2017, the project has been completed.
After the project is completed, it will greatly facilitate the production and transportation of Libai villagers, and the “difficulties in
roads” that have plagued the villagers for many years will be thoroughly resolved.
(3) Results of targeted poverty alleviation
Measurement
Target Numbers/ implementation
unit
i. Overall —— ——
ii. Invested by specific project —— ——
1. Industrial development poverty —— ——
2. Transfer employment —— ——
3.Relocation the poor —— ——
4.Education poverty —— ——
5.Health poverty alleviation —— ——
6.Ecological protection and poverty alleviation —— ——
7.Fallback protection —— ——
8.Social poverty alleviation —— ——
9. Other —— ——
iii. Awards (content and grade) —— ——
(4) Follow-up of targeted poverty alleviation
The road expansion and repair in Li Bai village
XVII. Explanation on other significant events
□ Applicable √ Not applicable
The Company had no explanation on other significant events in the reporting period.
36
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
XVIII. Significant event of subsidiary of the Company
√Applicable □ Not applicable
Sichuan Channel Platform Company was established on July 3, 2017 with a registered capital of 150 million yuan.
Since 2020, due to various factors, the scale of the business has continued to decline. In the first half of 2020, the
cumulative operating revenue was 16,963,300 yuan, a year-on-year decrease of 75,615,700 yuan. The main
reasons for the sharp drop in revenue are: Firstly, the outbreak of the epidemic at the end of 2019 has a
far-reaching impact on small and medium-sized enterprises. Most customer stores in Sichuan have been
suspended since the Spring Festival, and cash flow has been extremely exhausted, and the main customer groups
served by the company have a sharp decline in business demand. Secondly, in recent years, the market demand in
the jewelry industry has fallen sharply, and the upstream and downstream inventory has been overstocked, the
overall situation is not optimistic. Thirdly, after the company’s comprehensive assessment, in order to strictly
control risks, Sichuan Channel Platform Company has been suspended from launching new business. On the one
hand, we took the initiative to assume the social responsibilities of state-owned enterprises, and gave up some
profits to help customers tide over difficulties.
In the face of the above operating difficulties and challenges, Sichuan Channel Platform Company will continue to
strictly control risks, seek progress while maintaining stability, and actively explore business model
transformation, seize the low period of the jewelry industry caused by the epidemic, and explore new cooperation
and profit models.
37
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in Share Capital
1. Changes in Share Capital
In Share
Before change Increase/decrease in this time (+ , - ) After change
Capitalizat
Bonus ion of
Amount Ratio New issue Other Subtotal Amount Ratio
share public
reserve
Reasons for share changed
□Applicable √Not applicable
Approval of share changed
□Applicable √Not applicable
Ownership transfer of share changes
□Applicable √Not applicable
Progress of shares buy-back
□Applicable √Not applicable
Implementation progress of the reduction of repurchases shares 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 for the Company or need to disclosed under requirement from security regulators
□Applicable √ Not applicable
2. Changes of restricted shares
□Applicable √ Not applicable
II. Securities issuance and listing
□Applicable √ Not applicable
III. Amount of shareholders of the Company and particulars about shares holding
In Share
38
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Total preference shareholders
Total common stock
with voting rights recovered at
shareholders in reporting 49,238 0
end of reporting period (if
period-end
applicable) (found in note 8)
Particulars about shares held above 5% by common shareholders or top ten common shareholders
Total Number of share pledged/frozen
Amount
sharehold Amount of
Changes in of
Proportion ers at the un-restricte
Full name of Nature of
of shares report restricted
Shareholders shareholder end of d shares State of share
held Amount
period shares
report held
held
period
Shenzhen
Special State-owned 211,591,6 211,591,62
49.09% 0 0 0
Development corporation 21 1
Group Co., Ltd.
Shenzhen
Capital Fortune
Jewelry
Domestic non
Industry 68,475,98
state-owned 15.89% -8,620,885 0 68,475,986 0
Investment 6
corporate
Enterprise
(limited
partnership)
GUOTAI
JUNAN
Foreign
SECURITIES( 0.41% 1,746,091 0 0 1,746,091 0
corporation
HONGKONG)
LIMITED
Hong Kong
Securities
Foreign
Clearing 0.27% 1,168,065 +364,717 0 1,168,065 0
corporation
Company
Limited
Agricultural
Bank of China
Other 0.19% 836,089 -171,135 0 836,089 0
Ltd. – CSI 500
ETF
# Huang Domestic nature
0.15% 632,608 +169,043 0 632,608 0
Xinchang person
Domestic nature
#Chen Yun 0.12% 500,000 +200,000 0 500,000 0
person
39
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Domestic nature
#Lu Xia 0.12% 496,195 +253,500 496,195 0
person
Domestic nature
Li Guangxin 0.11% 487,181 0 487,181 0
person
# Tang Domestic nature
0.11% 461,520 +461,520 461,520 0
Zhenxiong person
Strategy investors or general
corporation comes top 10
N/A
shareholders due to rights issue (if
applicable) (see note 3)
Among the top ten shareholders, there exists no associated relationship between the
Explanation on associated state-owned legal person’s shareholders SDG, Ltd and other shareholders, and they do not
relationship among the top ten belong to the consistent actionist regulated by the Management Measure of Information
shareholders or consistent action Disclosure on Change of Shareholding for Listed Companies. For the other shareholders of
circulation share, the Company is unknown whether they belong to the consistent actionist.
Particular about top ten shareholders with un-restrict shares held
Type of shares
Shareholders’ name Amount of un-restrict shares held at Period-end
Type Amount
Shenzhen Special Development RMB ordinary
211,591,621 211,591,621
Group Co., Ltd. shares
Shenzhen Capital Fortune Jewelry
RMB ordinary
Industry Investment Enterprise 68,475,986 68,475,986
shares
(limited partnership)
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 1,746,091 listed foreign 1,746,091
LIMITED shares
Domestically
Hong Kong Securities Clearing
1,168,065 listed foreign 1,168,065
Company Limited
shares
Agricultural Bank of China Ltd. – RMB ordinary
836,089 836,089
CSI 500 ETF shares
RMB ordinary
Huang Xinchang 632,608 632,608
shares
RMB ordinary
Chen Yun 500,000 500,000
shares
RMB ordinary
Lu Xia 496,195 496,195
shares
RMB ordinary
Li Guangxin 487,181 487,181
shares
40
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
RMB ordinary
Tang Zhenxiong 461,520 461,520
shares
Expiation on associated relationship
Among the top ten shareholders, there exists no associated relationship between the
or consistent actors within the top
state-owned legal person’s shareholders SDG and other shareholders, and they do not belong
10 un-restrict shareholders and
to the consistent actionist regulated by the Management Measure of Information Disclosure on
between top 10 un-restrict
Change of Shareholding for Listed Companies. For the other shareholders of circulation share,
shareholders and top 10
the Company is unknown whether they belong to the consistent actionist.
shareholders
Shareholder Huang Xinchang holds 632,608 shares of the Company through security account
for credit transactions, and holds 0 share of the Company via common security account;
Explanation on shareholders Shareholder Chen Yun holds 500,000 shares of the Company through security account for
involving margin business about top credit transactions, and holds 0 share of the Company via common security account;
ten common shareholders with Shareholder Lu Xia holds 496,195 shares of the Company through security account for credit
un-restrict shares held (if transactions, and holds 0 share of the Company via common security account; Shareholder
applicable) (see note 4) Tang Zhenxiong holds 461,520 shares of the Company through security account for credit
transactions, and holds 0 share of the Company via common security account, 2,090,323
shares are held in total by Tang.
Whether top ten common stock shareholders or top ten common stock shareholders with un-restrict 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-restrict shares held of the Company have no
buy-back agreement dealing in reporting period.
IV. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of controlling shareholders had no change in reporting period.
Changes of actual controller in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
41
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the reporting.
42
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section VIII. Convertible Bonds
□ Applicable √ Not applicable
The Company had no convertible bonds in the Period.
43
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section IX. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
□Applicable √ Not applicable
Found more in annual report 2019 for the changes of shares held by directors, supervisors and senior executives
II. Resignation and dismissal of directors, supervisors and senior executives
□ Applicable √ Not applicable
No changes of directors, supervisors and senior executives, found more details in Annual Report 2019.
44
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section X. 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
45
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Section XI. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
1. Consolidated balance sheet
2020-06-30
In RMB
Item 2020-6-30 2019-12-31
Current assets:
Monetary funds 333,609,309.62 428,851,606.04
Settlement provisions
Capital lent
Tradable financial assets 115,128,569.86 60,486,575.34
Derivative financial assets
Note receivable
Account receivable 60,519,075.70 112,613,224.27
Receivable financing
Accounts paid in advance 17,088,141.12 12,683,603.89
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 45,617,678.95 44,908,546.40
Including: Interest receivable
Dividend receivable 39,647,732.42 39,647,732.42
Buying back the sale of financial
assets
Inventories 15,113,989.46 21,389,602.83
Contractual assets
46
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Assets held for sale
Non-current asset due within one
year
Other current assets 2,970,702.64 3,403,969.23
Total current assets 590,047,467.35 684,337,128.00
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 170,700,410.89 162,178,544.05
Investment in other equity
10,176,617.20 10,176,617.20
instrument
Other non-current financial assets
Investment real estate 545,498,309.35 554,599,503.55
Fixed assets 104,203,903.95 107,119,796.59
Construction in progress 74,408,194.38 47,654,393.55
Productive biological asset
Oil and gas asset
Right-of-use assets
Intangible assets 49,968,510.91 50,561,225.67
Expense on Research and
Development
Goodwill
Long-term expenses to be
12,895,310.28 13,606,805.49
apportioned
Deferred income tax asset 8,639,491.29 8,658,962.39
Other non-current asset 9,517,049.06 6,889,167.54
Total non-current asset 986,007,797.31 961,445,016.03
Total assets 1,576,055,264.66 1,645,782,144.03
Current liabilities:
Short-term loans 0.00
Loan from central bank
Capital borrowed
Trading financial liability
47
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Derivative financial liability
Note payable
Account payable 67,591,547.16 69,087,430.42
Accounts received in advance 14,416,295.28 27,299,822.71
Contractual liability
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 30,992,026.80 31,204,794.89
Taxes payable 13,159,531.35 71,425,267.61
Other account payable 99,453,009.14 101,266,802.49
Including: Interest payable
Dividend payable
Commission charge and
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within
one year
Other current liabilities
Total current liabilities 225,612,409.73 300,284,118.12
Non-current liabilities:
Insurance contract reserve
Long-term loans 0.00
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable 3,920,160.36 3,920,160.36
Long-term wages payable
Accrual liability 2,225,468.76 2,225,468.76
48
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Deferred income 139,400.00 139,400.00
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 6,285,029.12 6,285,029.12
Total liabilities 231,897,438.85 306,569,147.24
Owner’s equity:
Share capital 431,058,320.00 431,058,320.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 431,449,554.51 431,449,554.51
Less: Inventory shares
Other comprehensive income 26,422.00 26,422.00
Reasonable reserve
Surplus public reserve 21,007,488.73 21,007,488.73
Provision of general risk
Retained profit 394,914,047.12 387,423,510.78
Total owner’ s equity attributable to
1,278,455,832.36 1,270,965,296.02
parent company
Minority interests 65,701,993.45 68,247,700.77
Total owner’ s equity 1,344,157,825.81 1,339,212,996.79
Total liabilities and owner’ s equity 1,576,055,264.66 1,645,782,144.03
Legal representative: Fu Chunlong Accounting Principal: Lou Hong Accounting Firm’s Principal: Liu Yuhong
2. Balance Sheet of Parent Company
In RMB
Item 2020-6-30 2019-12-31
Current assets:
Monetary funds 149,476,502.21 201,885,691.27
Trading financial assets 40,324,383.56
Derivative financial assets
Note receivable
Account receivable 2,487,958.11 206,710.76
49
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Receivable financing
Accounts paid in advance 16,500.00 100,000.00
Other account receivable 136,039,446.63 116,037,773.09
Including: Interest receivable
Dividend receivable 547,184.35 547,184.35
Inventories
Contractual assets
Assets held for sale
Non-current assets maturing within
one year
Other current assets 2,304,943.56 1,419,760.18
Total current assets 290,325,350.51 359,974,318.86
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 868,070,987.03 859,355,040.60
Investment in other equity
10,176,617.20 10,176,617.20
instrument
Other non-current financial assets
Investment real estate 38,164,135.64 39,616,602.02
Fixed assets 13,680,941.18 14,012,830.64
Construction in progress 50,643,962.68 35,321,704.26
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 48,418,670.74 48,953,266.56
Research and development costs
Goodwill
Long-term deferred expenses 2,460,433.45 2,639,122.63
Deferred income tax assets 3,538,377.94 3,557,849.04
Other non-current assets 9,417,049.06 6,789,167.54
Total non-current assets 1,044,571,174.92 1,020,422,200.49
Total assets 1,334,896,525.43 1,380,396,519.35
Current liabilities
50
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Short-term borrowings
Trading financial liability
Derivative financial liability
Notes payable
Account payable 14,000.00 14,000.00
Accounts received in advance 7,849.53
Contractual liability
Wage payable 17,856,341.97 8,199,278.01
Taxes payable 677,021.46 54,684,929.01
Other accounts payable 259,193,066.48 257,260,350.77
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due within
one year
Other current liabilities
Total current liabilities 277,748,279.44 320,158,557.79
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
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 277,748,279.44 320,158,557.79
Owners’ equity:
Share capital 431,058,320.00 431,058,320.00
51
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 428,256,131.23 428,256,131.23
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve 21,007,488.73 21,007,488.73
Retained profit 176,826,306.03 179,916,021.60
Total owner’s equity 1,057,148,245.99 1,060,237,961.56
Total liabilities and owner’s equity 1,334,896,525.43 1,380,396,519.35
3. Consolidated Profit Statement
In RMB
Item 2020 semi-annual 2019 semi-annual
I. Total operating income 197,051,790.29 278,268,739.33
Including: Operating income 197,051,790.29 278,268,739.33
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 177,927,309.69 243,457,096.79
Including: Operating cost 154,774,587.52 210,494,012.42
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 1,376,727.57 2,968,165.06
52
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Sales expense 6,776,144.54 9,358,514.29
Administrative expense 17,202,000.61 16,878,629.26
R&D expense
Financial expense -2,202,150.55 3,757,775.76
Including: Interest
46,986.20 4,765,937.06
expenses
Interest income 2,453,494.99 1,152,054.69
Add: other income 52,846.70 6,611.29
Investment income (Loss is
12,881,490.50 16,711,450.93
listed with “-”)
Including: Investment income
8,521,866.84 10,775,524.54
on affiliated company and joint venture
The termination of income
recognition for financial assets measured
by amortized cost(Loss is listed with “-”)
Exchange income (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Income from change of fair
-356,102.35
value (Loss is listed with “-”)
Loss of credit impairment
599,201.43 101,666.14
(Loss is listed with “-”)
Losses of devaluation of asset
0.00
(Loss is listed with “-”)
Income from assets disposal
103,159.68
(Loss is listed with “-”)
III. Operating profit (Loss is listed with
32,301,916.88 51,734,530.58
“-”)
Add: Non-operating income 946,106.92 119,625.44
Less: Non-operating expense 29,059.48 833,400.00
IV. Total profit (Loss is listed with “-”) 33,218,964.32 51,020,756.02
Less: Income tax expense 6,448,306.06 6,038,256.76
V. Net profit (Net loss is listed with “-”) 26,770,658.26 44,982,499.26
(i) Classify by business continuity
1.continuous operating net profit
26,770,658.26 44,982,499.26
(net loss listed with ‘-”)
2.termination of net profit (net loss
53
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s
25,594,985.78 44,779,948.60
of parent company
2.Minority shareholders’ gains and
1,175,672.48 202,550.66
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
54
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
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 26,770,658.26 44,982,499.26
Total comprehensive income
25,594,985.78 44,779,948.60
attributable to owners of parent Company
Total comprehensive income
1,175,672.48 202,550.66
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0594 0.1039
(ii) Diluted earnings per share 0.0594 0.1039
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal representative: Fu Chunlong Accounting Principal: Lou Hong Accounting Firm’s Principal: Liu Yuhong
4. Profit Statement of Parent Company
In RMB
Item 2020 semi-annual 2019 semi-annual
I. Operating income 13,120,854.52 19,112,054.55
Less: Operating cost 3,857,719.57 1,774,557.00
Taxes and surcharge 409,089.36 786,231.07
Sales expenses 1,569,961.98
Administration expenses 12,509,528.85 8,507,495.18
R&D expenses
Financial expenses -961,656.89 2,775,796.55
Including: interest
3,610,643.70
expenses
Interest income 1,050,258.70 851,734.70
Add: other income 21,849.42
Investment income (Loss is
19,230,523.18 11,794,465.45
listed with “-”)
Including: Investment income
8,715,946.43 8,376,471.67
on affiliated Company and joint venture
55
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
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
-324,383.56
value (Loss is listed with “-”)
Loss of credit impairment
-18,945.66
(Loss is listed with “-”)
Losses of devaluation of asset
(Loss is listed with “-”)
Income on disposal of assets
(Loss is listed with “-”)
II. Operating profit (Loss is listed with
14,664,200.69 17,043,494.54
“-”)
Add: Non-operating income -18,810.00 19,425.71
Less: Non-operating expense
III. Total Profit (Loss is listed with “-”) 14,645,390.69 17,062,920.25
Less: Income tax -369,343.18 764,471.10
IV. Net profit (Net loss is listed with
15,014,733.87 16,298,449.15
“-”)
(i)continuous operating net profit
15,014,733.87 16,298,449.15
(net loss listed with ‘-”)
(ii) termination of net profit (net
loss listed with ‘-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
56
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
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 15,014,733.87 16,298,449.15
VII. Earnings per share:
(i) Basic earnings per share 0.0348 0.0378
(ii) Diluted earnings per share 0.0348 0.0378
5. Consolidated Cash Flow Statement
In RMB
Item 2020 semi-annual 2019 semi-annual
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 263,485,972.58 275,395,004.65
services
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
bank
57
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings
and investment
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in sale
and purchase of securities
Write-back of tax received
Other cash received concerning
38,218,429.50 30,288,007.02
operating activities
Subtotal of cash inflow arising from
301,704,402.08 305,683,011.67
operating activities
Cash paid for purchasing
commodities and receiving labor 142,251,999.24 212,542,573.51
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 24,589,002.12 26,091,445.73
Taxes paid 68,873,589.78 9,452,428.27
Other cash paid concerning
48,683,488.74 30,162,504.86
operating activities
58
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Subtotal of cash outflow arising from
284,398,079.88 278,248,952.37
operating activities
Net cash flows arising from operating
17,306,322.20 27,434,059.30
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
755,800,000.00 965,735,585.20
investment
Cash received from investment
4,556,873.60 5,967,222.92
income
Net cash received from disposal of
fixed, intangible and other long-term 6,400.00 78,500.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
20,870,000.00
investing activities
Subtotal of cash inflow from investing
760,363,273.60 992,651,308.12
activities
Cash paid for purchasing fixed,
37,821,844.32 34,041,146.15
intangible and other long-term assets
Cash paid for investment 810,800,000.00 904,100,000.00
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
848,621,844.32 938,141,146.15
activities
Net cash flows arising from investing
-88,258,570.72 54,510,161.97
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
20,000,000.00
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
59
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Cash received from loans 158,020,000.00
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
178,020,000.00
activities
Cash paid for settling debts 2,952,372.85 198,814,887.55
Cash paid for dividend and profit
21,825,829.24 4,756,413.09
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
24,778,202.09 203,571,300.64
activities
Net cash flows arising from financing
-24,778,202.09 -25,551,300.64
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 88.42 9.84
exchange rate
V. Net increase of cash and cash
-95,730,362.19 56,392,930.47
equivalents
Add: Balance of cash and cash
400,668,257.81 142,848,120.69
equivalents at the period -begin
VI. Balance of cash and cash
304,937,895.62 199,241,051.16
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB
Item 2020 semi-annual 2019 semi-annual
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 4,151,391.53 14,820,726.01
services
Write-back of tax received 0
Other cash received concerning
40,826,847.87 6,580,839.48
operating activities
60
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Subtotal of cash inflow arising from
44,978,239.40 21,401,565.49
operating activities
Cash paid for purchasing
commodities and receiving labor 239,375.15
service
Cash paid to/for staff and workers 11,892,984.82 7,850,812.96
Taxes paid 54,859,179.71 1,157,332.91
Other cash paid concerning
46,163,081.37 14,812,259.31
operating activities
Subtotal of cash outflow arising from
113,154,621.05 23,820,405.18
operating activities
Net cash flows arising from operating
-68,176,381.65 -2,418,839.69
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
307,000,000.00 500,000,000.00
investment
Cash received from investment
10,641,433.09 3,996,094.69
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
20,870,000.00
investing activities
Subtotal of cash inflow from investing
317,641,433.09 524,866,094.69
activities
Cash paid for purchasing fixed,
17,257,856.83 7,675,914.33
intangible and other long-term assets
Cash paid for investment 267,000,000.00 487,000,000.00
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
284,257,856.83 494,675,914.33
activities
Net cash flows arising from investing 33,383,576.26 30,190,180.36
61
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans 143,000,000.00
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
143,000,000.00
activities
Cash paid for settling debts 143,000,000.00
Cash paid for dividend and profit
18,104,449.44 3,670,662.11
distributing or interest paying
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
18,104,449.44 146,670,662.11
activities
Net cash flows arising from financing
-18,104,449.44 -3,670,662.11
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
-52,897,254.83 24,100,678.56
equivalents
Add: Balance of cash and cash
173,702,343.04 62,172,486.14
equivalents at the period -begin
VI. Balance of cash and cash
120,805,088.21 86,273,164.70
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
Current period
In RMB
2020 semi-annual
Owners’ equity attributable to the parent Company
Other Other Minori Total
Item Less: Provisi ty owners
Share equity instrument compr Reaso Surplu Retain
Capital Invent on of Subtot interes ’
capita Prefe Perpe ehensi nable s ed Other
reserve ory genera al ts equity
l rred tual Other ve reserve reserve profit
shares l risk
stock capit incom
62
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
al e
secur
ities
I. Balance at the 431,0 431,44
26,422
21,007 387,42 1,270, 68,247 1,339,
end of the last 58,32 9,554. ,488.7 3,510. 965,29 ,700.7 212,99
.00
year 0.00 51 3 78 6.02 7 6.79
Add:
Changes of
accounting
policy
Error
correction of the
last period
Enterprise
combine under
the same
control
Other
II. Balance at 431,0 431,44
26,422
21,007 387,42 1,270, 68,247 1,339,
the beginning of 58,32 9,554. ,488.7 3,510. 965,29 ,700.7 212,99
.00
this year 0.00 51 3 78 6.02 7 6.79
III. Increase/
Decrease in this 7,490, 7,490, -2,545, 4,944,
year (Decrease
536.34 536.34 707.32 829.02
is listed with
“-”)
(i) Total 25,594 25,594 26,770
1,175,
comprehensive ,985.7 ,985.7 ,658.2
672.48
income 8 8 6
(ii) Owners’
devoted and
decreased
capital
1.Common
shares invested
by shareholders
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity
with
share-based
payment
4. Other
63
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
-18,10 -18,10 -21,82
(III) Profit -3,721,
4,449. 4,449. 5,829.
distribution 379.80
44 44 24
1. Withdrawal
of surplus
reserves
2. Withdrawal
of general risk
provisions
3. Distribution -18,10 -18,10 -21,82
-3,721,
for owners (or 4,449. 4,449. 5,829.
379.80
shareholders) 44 44 24
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
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(VI)Others
IV. Balance at 431,0 431,44
26,422
21,007 394,91 1,278, 65,701 1,344,
the end of the 58,32 9,554. ,488.7 4,047. 455,83 ,993.4 157,82
.00
report period 0.00 51 3 12 2.36 5 5.81
Last period
In RMB
2019 semi-annual
Owners’ equity attributable to the parent Company
Other
equity instrument Other Minorit
Item Perp Less: compr Provisi Total
Share Reaso Surplu Retain y
etual Capital Invent ehensi on of Subtot interest owners’
capita Prefe nable s ed Other equity
capit reserve ory ve genera al s
l rred Other reserve reserve profit
al shares incom l risk
stock
secur e
ities
I. Balance at 297,2 565,22 26,422 3,139, 184,53 1,050, 49,072, 1,099,2
the end of the 81,60 6,274. .00 918.14 5,322. 209,53 678.52 82,215.
last year 0.00 51 70 7.35 87
Add:
Changes of
accounting
policy
Error
correction of
the last period
Enterprise
combine
under the
same control
Other
II. Balance at 297,2 565,22 26,422 3,139, 184,53 1,050, 49,072, 1,099,2
the beginning 81,60 6,274. .00 918.14 5,322. 209,53 678.52 82,215.
of this year 0.00 51 70 7.35 87
III. Increase/ 133,7 -133,7 44,779 44,779 20,202, 64,982,
Decrease in this
76,72 76,720 ,948.6 ,948.6 550.66 499.26
year (Decrease
0.00 .00 0 0
is listed with
“-”)
(i) Total 44,779 44,779 202,550 44,982,
comprehensive ,948.6 ,948.6 .66 499.26
income 0 0
(ii) Owners’ 20,000, 20,000,
devoted and
000.00 000.00
decreased
65
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
capital
1.Common 20,000, 20,000,
shares invested
000.00 000.00
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. Withdrawal
of general risk
provisions
3. Distribution
for owners (or
shareholders)
4. Other
(IV) Carrying 133,7 -133,7
forward
76,72 76,720
internal
0.00 .00
owners’ equity
1. Capital 133,7 -133,7
reserves
76,72 76,720
conversed to
0.00 .00
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
66
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
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 431,0 431,44 26,422 3,139, 229,31 1,094, 69,275, 1,164,2
the end of the 58,32 9,554. .00 918.14 5,271. 989,48 229.18 64,715.
report period 0.00 51 30 5.95 13
8. Statement of Changes in Owners’ Equity (Parent Company)
Current period
In RMB
2020 semi-annual
Other equity instrument
Perpet Other
Item Capital Less: Reasona Total
Share Preferr ual compreh Surplus Retaine
public Inventor ble Other owners’
capital ed capital Other ensive reserve d profit
reserve y shares reserve equity
stock securiti income
es
I. Balance at the 431,05 428,256, 21,007,4
179,91
1,060,237,
end of the last 8,320.0 6,021.6
131.23 88.73 961.56
year 0 0
Add:
Changes of
accounting
policy
Error
correction of the
last period
Other
II. Balance at the 431,05 428,256, 21,007,4
179,91
1,060,237,
beginning of this 8,320.0 6,021.6
131.23 88.73 961.56
year 0 0
III. Increase/ -3,089, -3,089,715
67
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Decrease in this 715.57 .57
year (Decrease is
listed with “-”)
(i) Total 15,014, 15,014,73
comprehensive
733.87 3.87
income
(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 -18,104 -18,104,44
distribution ,449.44 9.44
1. Withdrawal of
surplus reserves
2. Distribution -18,104 -18,104,44
for owners (or
,449.44 9.44
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
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
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 431,05 428,256, 21,007,4
176,82
1,057,148,
the end of the 8,320.0 6,306.0
131.23 88.73 245.99
report period 0 3
Last period
In RMB
2019 semi-annual
Other equity
instrument
Other
Item Perpet Capital Less: Total
Share compre Reasonab Surplus Retained
Preferr ual public Inventor Other owners’
capital hensive le reserve reserve profit
ed capital Other reserve y shares equity
income
stock securit
ies
I. Balance at the 297,28 562,032 3,139,9 18,545,85 881,000,21
end of the last 1,600.
,851.23 18.14 0.31 9.68
year 00
Add:
Changes of
accounting
policy
Error
correction of
the last period
Other
II. Balance at 297,28 562,032 3,139,9 18,545,85 881,000,21
the beginning 1,600.
,851.23 18.14 0.31 9.68
of this year 00
III. Increase/
Decrease in this 133,77 -133,77
16,298,44 16,298,449.
year (Decrease 6,720. 6,720.0
9.15 15
is listed with 00 0
“-”)
69
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(i) Total 16,298,44 16,298,449.
comprehensive
9.15 15
income
(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 133,77 -133,77
forward internal 6,720. 6,720.0
owners’ equity 00 0
1. Capital
reserves 133,77 -133,77
conversed to 6,720. 6,720.0
capital (share 00 0
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4．Carry-over
retained
earnings from
the defined
70
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
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 431,05 428,256 3,139,9 34,844,29 897,298,66
the end of the 8,320.
,131.23 18.14 9.46 8.83
report period 00
III. Basic situation of the company
Shenzhen Tellus Group Co., Ltd. (hereinafter referred to as Company or the Company), as authorized by the reply
relating to Shenzhen Machinery Industry Company transforming to Shenzhen Tellus Machinery Co.,
Ltd.(SFBF[1991]1012) issued by the Office of Shenzhen People Government, Shenzhen Machinery Industry
Company was transformed to Shenzhen Tellus Machinery Co., Ltd. Registered in Shenzhen Administration for
Industry and Commerce on November 10, 1986, Headquartered in Shenzhen, Guangdong Province. The company
now holds a business license with a unified social credit code of 91440300192192210U, the registered capital is
431,058,320.00 yuan, and the total number of shares is 431,058,320 shares (each with a par value of 1 yuan).
Among them, the tradable shares subject to sales restrictions: 0 A shares and 0 B shares; 392,778,320 A shares and
38,280,000 B shares subject to sales restrictions. The company’s shares were listed on the Shenzhen Stock
Exchange on June 21, 1993. The company belongs to the wholesale industry, and its main business activities
include automobile sales, automobile maintenance and testing, jewelry sales, property leasing and services. This
financial statement is approved for disclosure by resolution from the Board dated 26 August 2020.
There are 16 subsidiaries including Shenzhen Zhongtian Industrial Co,. Ltd., Sichuan Tellus Jewelry Tech. Co.,
Ltd and Shenzhen Huari Toyota Auto Sales Service Co., Ltd included in the consolidate scope of the Company in
the Period, found more in the explanation carry in Note VII and Note VIII.
71
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
IV. Basis Preparation of the Financial Statements
1. Preparation base
Financial statement of the Company is prepared on a going concern basis.
2. Going concern
The Company does not have any events or circumstances that would cause significant doubt about its ability to
continue as a going concern within 12 months from the end of the reporting period.
V. Important accounting policy & accounting estimation
Specific accounting policies and estimation attention:
Important tips: according to the characteristics of the actual production and operation, the Company formulated
specific accounting policies and estimation for transactions or events such as impairment of financial instruments,
depreciation of fixed assets, amortization of intangible assets and revenue recognition.
1. Statement of Compliance with the Accounting Standards for Business Enterprises
The financial statements prepared by the Company are in accordance to requirements of Accounting Standard for
Business Enterprise, which truly and completely reflect the financial status of the Company, as well as the
operation results and cash flows.
2. Accounting period
Accounting period of the Company is falls to the range starting from 1 January to 31 December.
3. Operating cycle
Operating cycle of the Company’s business is relatively short, and 12 months is taken as the liquidity division
standard of assets and liabilities.
4. Standard currency
The Company and its subsidiaries take RMB as the standard currency for bookkeeping.
5. Accounting treatment method for business combination under the same control and business
combination not under the same control
1. Accounting treatment method for business combination under the same control
The assets and liabilities acquired by the company in a business combination shall be measured according to the
72
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
book value of the combined party in the consolidated financial statements of the ultimate controlling party on the
combination date. The company adjusts the capital reserve according to the difference between the book value
share of the combined party’s owner’s equity in the ultimate controlling party’s consolidated financial statements
and the book value of the combined consideration paid or the total face value of the issued shares; if the capital
reserve is insufficient to offset, adjust the retained earnings.
2. Accounting treatment method for business combination not under the same control
The difference between the company’s combined cost and the fair value share of the acquiree’s identifiable net
assets acquired in the combination on the purchase date is recognized as goodwill; if the combination cost is less
than the fair value share of the acquiree’s identifiable net assets acquired in the combination, review the fair value
of the acquiree’s identifiable assets, liabilities and contingent liabilities and the measurement of the combination
cost in the first place. After the review, if the combination cost is still less than the fair value of the acquiree’s
identifiable net assets obtained in the combination, the difference is included in the current profit and loss.
6. Methods for preparation of consolidated financial statements
All subsidiaries controlled by the parent company are included in the consolidation scope of the consolidated
financial statements. The consolidated financial statements are based o the financial statements of the parent
company and its subsidiaries, and prepared by the parent company in accordance with the Accounting Standards
for Business Enterprise No.33- Consolidated Financial Statement according to other relevant information.
7. Classification of joint venture arrangement and accounting for joint operations
1. Joint venture arrangements are divided into joint operations and joint ventures.
2. When the Company is a joint venture party of a joint venture arrangement, recognizes its proportion of interests
in joint operation as related to the Company:
(1) To recognize separately-held assets and jointly-held assets under its proportion;
(2) To recognize separately-assumed liabilities and jointly-assumed liabilities under its proportion;
(3) To recognize revenue from disposal of the output which the Company is entitled to under the proportion;
(4) To recognize revenue from disposal of the output under the proportion;
(5) To recognize separately occurred expenses, and to recognize expenses occurred for joint operations under its
proportion.
8. Recognition standards for cash and cash equivalents
The cash carry in cash flow statement refers to the stock cash and deposits available for payment at any time.
Cash equivalent refers to the investment featuring with the following characters: short term, active liquidity, easy
to convert to already-known cash and small value change risks.
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9. Foreign currency business and conversion of foreign currency statement
1.Conversion of foreign currency business
When foreign currency transactions are initially recognized, the spot exchange rate on the transaction date shall be
used to convert the foreign currency transaction into RMB amount.On the balance sheet date, foreign currency
monetary items are converted at the spot exchange rate on the balance sheet date. The exchange difference arising
from different exchange rates, except for the exchange difference of the principal and interest of foreign currency
special borrowings related to the acquisition and construction of assets that meet the conditions for capitalization,
is included in the current profit and loss; as for the foreign currency non-monetary items measured by historical
cost, conversion is made with the spot exchange rate as of the business day, with no change in RMB amount; as
for the foreign currency non-monetary items measured by fair value, the amount is then converted into RMB
according to the spot exchange rate as of the confirmation day for fair value. And the conversion difference
occurred is recorded into current gains/losses or other comprehensive income.
2. Conversion of foreign currency financial statement
Spot exchange rate as of the balance sheet date is adopted for conversion of assets and liabilities in the balance
sheet; as for the items in statement of owners’ equity except for “Retained profit”, conversion is made pursuant to
the spot exchange rate of business day; items of income and expenses in the profit statement shall be converted at
the spot exchange rate on the date of transaction. The balance of foreign currency financial statements generated
according to the above transaction shall be included in other comprehensive income.
10. Financial instruments
1. Categories of financial assets and financial liabilities
At initial recognition, financial assets are classifies into three types: (1) the financial assets measured at amortized
cost; (2) the financial assets measured at fair value and whose changes are included in other comprehensive
income; and (3) the financial assets measured at fair value and whose changes are included in current gain/loss.
At the time of initial recognition, financial liabilities are divided into the following four categories: (1) Financial
liabilities measured at fair value and whose changes are included in the current profit and loss; (2) Financial
liabilities formed as the transfer of financial assets does not meet the conditions for derecognition or continues to
be involved in the transferred financial assets; (3) Financial guarantee contracts that do not belong to
above-mentioned (1) or (2), and loan commitments that do not belong to above-mentioned (1) and are loaned at a
lower-than-market interest rate; (4) Financial liabilities measured at amortized cost.
2. Recognition basis, measurement method and derecognition conditions of financial assets and financial
liabilities
(1) Recognition basis and initial measurement method of financial assets and financial liabilities
When a company becomes a party to a financial instrument contract, a financial asset or financial liability is
recognized. When financial assets or financial liabilities are initially recognized, they are measured at fair value;
for financial assets and financial liabilities that are measured at fair value and whose changes are included in the
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current profits and losses, the relevant transaction costs are directly included in the current profits and losses; for
other types of financial assets or financial liabilities, related transaction costs are included in the initial recognition
amount. However, if the account receivable initially recognized by the company does not contain a significant
financing component or the company does not consider the financing component in a contract that is less than one
year, the initial measurement is made at the transaction price.
(2) Subsequent measurement methods of financial assets
1) Financial assets measured at amortized cost
The subsequent measurement is carried out according to the amortized cost by adopting the effective interest
method. The gains or losses arising from financial assets that are measured at amortized costs and are not part of
any hedging relationship are included in the current profits and losses when they are derecognized, reclassified,
amortized or recognized as impairment in accordance with the effective interest method.
2) Debt instrument investment measured at fair value and whose changes are included in other comprehensive
income
Use fair value for subsequent measurement. Interest, impairment losses or gains and exchange gains and losses
calculated by using the effective interest rate method are included in the current profits and losses, and other gains
or losses are included in other comprehensive income. When derecognized, the accumulated gains or losses
previously included in other comprehensive income shall be transferred from other comprehensive income and
included in the current profits and losses.
3) Equity instrument investment measured at fair value and whose changes are included in other comprehensive
income
Use fair value for subsequent measurement. Dividends obtained (except those that are part of the recovery of
investment costs) are included in the current profits and losses, and other gains or losses are included in other
comprehensive income. When derecognized, the accumulated gains or losses previously included in other
comprehensive income are transferred from other comprehensive income and included in retained earnings.
4) Financial assets measured at fair value and whose changes are included in the current profits and losses
Use fair value for subsequent measurement, and the resulting gains or losses (including interest and dividend
income) are included in the current profits and losses, unless the financial asset is part of the hedging relationship.
(3) Subsequent measurement methods of financial liabilities
1) Financial liabilities measured at fair value and whose changes are included in the current profits and losses
Such financial liabilities include transactional financial liabilities (including derivative instruments that are
financial liabilities) and financial liabilities designated to be measured at fair value and whose changes are
included in the current profits and losses. For such financial liabilities, subsequent measurement is made at fair
value. Changes in the fair value of financial liabilities designated to be measured at fair value and whose changes
are included in the current profits and losses caused by changes in the company’s own credit risk are included in
other comprehensive income, unless the treatment will cause or enlarge the accounting mismatch in the profits
and losses. Other gains or losses arising from such financial liabilities (including interest expenses,except for
changes in fair value due to changes in the company's own credit risk) are included in the current profits and
losses, unless the financial liabilities are part of the hedging relationship. When derecognized, the accumulated
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gains or losses previously included in other comprehensive income are transferred from other comprehensive
income and included in retained earnings.
2) The transfer of financial assets does not meet the conditions for derecognition or continues to be involved in
financial liabilities formed by the transferred financial assets
Measure in accordance with the relevant provisions of the "Accounting Standards for Business Enterprises No.
23-Transfer of Financial Assets".
3) Financial guarantee contracts that do not belong to 1) or 2) above, and loan commitments that do not belong to
1) above and loan at interest rates lower than market interest rates
After the initial recognition, the subsequent measurement shall be carried out according to the higher of the
following two amounts: ① The amount of loss provisions determined in accordance with the impairment
provisions of financial instruments; ② The balance after deducting the accumulated amortization determined in
accordance with relevant regulations from the initial recognition amount.
4) Financial liabilities measured at amortized cost
Measure at amortized cost by using the effective interest method. The gains or losses arising from financial
liabilities that are measured at amortized cost and are not part of any hedging relationship are included in the
current profits and losses when they are derecognized and amortized according to the effective interest method.
(4) Derecognition of financial assets and financial liabilities
1) When meeting one of the following conditions, the financial assets are derecognized:
① The contractual right to receive cash flow of financial assets has been terminated;
② The financial assets have been transferred and the transfer meets the requirements of the "Accounting
Standards for Business Enterprises No. 23-Transfer of Financial Assets" on the derecognition of financial assets.
2) When the current obligation of the financial liability (or part of it) has been discharged, the financial liability
(or part of the financial liability) shall be derecognized accordingly.
3. Recognition basis and measurement method of financial asset transfer
If the company transfers almost all the risks and rewards related to the ownership of a financial asset, derecognize
the financial asset, and separately recognize the rights and obligations arising or retained during the transfer as
assets or liabilities; if almost all the risks and rewards related to the ownership of the financial assets are
retained,continue to recognize the transferred financial assets. If the company neither transfers nor retains almost
all the risks and rewards related to the ownership of the financial assets, the following situations shall be dealt
with respectively: (1) If the control of the financial assets is not retained, derecognize the financial assets, and the
rights and obligations generated or retained during the transfer shall be separately recognized as assets or
liabilities; (2) If the control of the financial assets is retained, the relevant financial assets are recognized
according to the degree of continued involvement in the transferred financial assets, and the relevant liabilities are
recognized accordingly.
If the overall transfer of financial assets meets the conditions for derecognition, the difference between the
following two amounts is 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 due to the transfer of financial assets
and the amount corresponding to the derecognized portion of the accumulated amount of fair value changes
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originally directly included in other comprehensive income (the financial assets involved in transfer are
investments in debt instruments that are measured at fair value and whose changes are included in other
comprehensive income). If a part of the financial asset is transferred, and the entire transferred part meets the
conditions for derecognition, the book value of the entire financial asset before the transfer will be allocated
between the derecognition part and the part continuing to recognize according to their respective relative fair
values on the transfer date, and include the difference between the following two amounts in the current profits
and losses: (1) the book value of the derecognized part; (2) the sum of the consideration of the derecognized part
and the amount corresponding to the derecognized portion of the accumulated amount of fair value changes
originally directly included in other comprehensive income (the financial assets involved in transfer are
investments in debt instruments that are measured at fair value and whose changes are included in other
comprehensive income)..
4. Methods for determining the fair value of financial assets and financial liabilities
The company uses valuation techniques that are applicable under current circumstances and have sufficient data
and other supporting information to determine the fair value of relevant financial assets and financial liabilities.
The company divides the input values used by valuation techniques into the following levels and uses them in
sequence:
(1) The first-level input value is the unadjusted quotation of the same asset or liability in the active market that can
be obtained on the measurement date;
(2) The second-level input value is the directly or indirectly observable input value of related assets or liabilities
other than the first-level input value, including the quotes of similar assets or liabilities in the active market; the
quotes of the same or similar assets or liabilities in the inactive market; other observable input values other than
quotes, such as interest rates and yield curves that are observable during the normal quote interval;
market-validated input values, etc.;
(3) The third-level input value is the unobservable input value of the relevant asset or liability, including interest
rates that cannot be directly observed or verified by observable market data, stock volatility, future cash flows of
abandoned obligations assumed in business combinations, financial forecasts made by using own data, etc.
5. Impairment of financial instruments
(1) Impairment measurement and accounting treatment of financial instruments
The company uses expected credit losses as the basis, and makes impairment and recognizes loss provisions for
financial assets measured at amortized cost, investment in debt instruments measured at fair value with changes
included in other comprehensive income, lease receivables, loan commitments other than financial liabilities that
are classified as financial liabilities measured at fair value with changes included in the current profits and losses,
financial liabilities that are not measured at fair value and whose changes are included in the current profits and
losses, or financial guarantee contracts of financial liabilities that do not meet the conditions for derecognition or
continue to be involved in the transferred financial assets.
Expected credit loss refers to the weighted average of the credit losses of financial instruments weighted on the
risk of default. Credit loss refers to the difference between all contractual cash flows discounted by the company
at the original actual interest rate and receivable under the contract and all cash flows expected to be received, that
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is, the present value of all cash shortages. Among them, for the financial assets purchased or originated by the
company that have been credit-impaired, they are discounted according to the credit-adjusted actual interest rate
of the financial assets.
For purchased or derived financial assets that have been credit-impaired, the company only recognizes the
cumulative changes in expected credit losses during the entire duration after initial recognition as loss provisions
on the balance sheet date.
For accounts receivable that do not contain a significant financing component or the company does not consider
the financing component of a contract that does not exceed one year, the company uses the simplified
measurement method to measure the loss provisions at the amount equivalent to the expected credit losses during
the entire duration.
For lease receivables and accounts receivable that contain major financing components, the company uses the
simplified measurement method to measure loss provisions at the amount equivalent to expected credit losses
during the entire duration.
For a financial asset other than the above measurement methods, the company assesses on each balance sheet date
whether its credit risk has increased significantly since the initial recognition. If the credit risk has increased
significantly since the initial recognition, the company measures the loss provisions at the amount of expected
credit losses during the entire duration; if the credit risk has not increased significantly since the initial recognition,
the company measures the loss provisions based on the amount of expected credit loss of the financial instrument
in the next 12 months.
The company uses available reasonable and evidence-based information, including forward-looking information,
and determines whether the credit risks of financial instruments have increased significantly since the initial
recognition by comparing the risk of default of financial instruments on the balance sheet date with the risk of
default on the date of initial recognition.
On the balance sheet date, if the company judges that a financial instrument only has a low credit risk, it is
assumed that the credit risk of the financial instrument has not increased significantly since the initial recognition.
The company assesses expected credit risks and measures expected credit losses based on individual financial
instrument or a combination of financial instruments. When based on a combination of financial instruments, the
company divides financial instruments into different combinations based on common risk characteristics.
The company re-measures expected credit losses on each balance sheet date, and the resulting increase in loss
reserves or the amount reversed is included in the current profits and losses as impairment losses or gains. For a
financial asset measured at amortized cost, the loss provisions offset against the book value of the financial asset
listed in the balance sheet; for debt investments measured at fair value and whose changes are included in other
comprehensive income, the company recognizes the loss provisions in other comprehensive income, and does not
deduct the book value of the financial asset.
(2) Financial instrument that assesses expected credit risks and measures expected credit losses by portfolio
Item Basis for determining the portfolio Measuring methods for expected credit
losses
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Other account receivable - related transaction Nature of the account With reference to historical credit loss
receivable in consolidate scope experience, combined with current
Other account receivable - dividend receivable conditions and forecasts of future economic
conditions, the expected credit loss is
Other account receivable - account age Account age
calculated through the default risk exposure
and the expected credit loss rate within the
next 12 months or the entire duration
(3)Account receivable with expected credit loss measured at portfolio
1) Specific portfolio and methods on measuring the expected credit losses
Item Basis for determining the portfolio Measuring methods for expected credit
losses
Account receivable—account age account age With reference to historical credit loss
experience, combined with current
conditions and forecasts of future economic
conditions, the expected credit loss is
calculated by the comparison table prepared
between the account age of receivable and
the expected credit loss rate within the entire
duration
Account receivable - Jewelry sales business Account receivable with sales of jewelry With reference to historical credit loss
concerned experience, combined with current
conditions and forecasts of future economic
conditions, the expected credit loss is
calculated through the default risk exposure
and the expected credit loss rate within the
entire duration
2) Account receivable—comparison table between the account age (in portfolio) and expected credit loss rate
for the whole duration
Account age Expected credit loss rate of account
receivable (%)
Within one year (inclusive, the same below) 1
1-2 years 5
2-3 years 20
Over 3 years 50
6. Offsetting of financial assets and financial liabilities
Financial assets and financial liabilities are listed separately in the balance sheet and do not offset each other.
However, if the following conditions are met at the same time, the company will list the net amount after
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offsetting each other in the balance sheet: (1) The company has the statutory right to offset the recognized amount,
and this statutory right is currently enforceable; 2) The company plans to settle on a net amount, or realize the
financial assets and liquidate the financial liabilities at the same time.
For the transfer of financial assets that does not meet the conditions for derecognition, the company does not
offset the transferred financial assets and related liabilities.
11.Note receivable
Not applicable
12.Account receivable
1. Account receivable with bad debt provision accrual on a single basis
Provision for bad debts on single basis: Bad debt provision shall be made on a single basis when there is evidence that the credit
risk of a single item of account receivable is large.
Accrual method for bad debt provision: Conduct impairment tests separately, and make provision for bad debts according to the
difference between the present value of its future cash flow and its book value
2. Accounts receivable with provision for bad debts according to the combination of expected credit risk
characteristics
Except for the accounts receivable with bad debt provision accrual on a single basis, the accounts receivable are
grouped according to the similarity and correlation of credit risk characteristics. These credit risks usually reflect
the debtor's ability to repay all due amounts in accordance with the contractual terms of the assets, and are related
to the calculation of the future cash flow of the asset under inspection. The Group uses the aging of accounts
receivable as the combination of expected credit risk characteristics to make provisions for bad debts based on the
actual credit losses of previous years and the forward-looking information of the current year. The accounting
policies for bad debt provisions are as follows:
Account age Expected credit loss rate of account receivable (%)
Within one year 1
1-2 years 5
2-3 years 20
Over 3 years 50
13. Account receivable financing
Not applicable
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14. Other account receivable
Determining method and accounting treatment on the expected credit loss of other account receivable
1. Other account receivable with bad debt provision accrual on a single basis
Provision for bad debts on single basis: Bad debt provision shall be made on a single basis when there is evidence that the credit
risk of a single item of other account receivable is large.
Accrual method for bad debt provision: Conduct impairment tests separately, and make provision for bad debts according to the
difference between the present value of its future cash flow and its book value
2. Other accounts receivable with provision for bad debts according to the combination of expected credit risk
characteristics
Except for the other accounts receivable with single provision for bad debts, the other receivable are grouped
according to the similarity and correlation of credit risk characteristics. These credit risks usually reflect the
debtor's ability to repay all due amounts in accordance with the contractual terms of the assets, and are related to
the calculation of the future cash flow of the asset under inspection. The Group uses the aging of other accounts
receivable as the combination of expected credit risk characteristics to make provisions for bad debts based on the
actual credit losses of previous years and the forward-looking information of the current year. The accounting
policies for bad debt provisions are as follows:
Account age Expected credit loss rate of other account receivable (%)
Within one year 1
1-2 years 5
2-3 years 20
Over 3 years 50
15. Inventory
1. Classification
Inventory includes finished products or commodities held for sale in daily activities, products in the production
process, materials and supplies consumed in the production process or the process of providing labor services, etc.
2. Valuation methods for delivery of inventory
The delivery of inventory shall be priced individually on a first-in, first-out basis.
3. Recognition standards of the net realizable value for inventory
On the balance sheet date, inventories are measured at the lower of cost and net realizable value, and provision for
impairment of inventories is made based on the difference between the cost of a single inventory/inventory
category and the net realizable value. The net realizable value of the inventory directly used for sale is determined
in the normal production and operation process at the estimated selling price of the inventory minus the estimated
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sales expenses and related taxes. The net realizable value of the inventory that needs to be processed is determined
by the estimated selling price of the finished product produced after subtracting the estimated cost, estimated sales
expenses and related taxes and fees at the time of completion in the normal production and operation process. On
the balance sheet date, for part of the same inventory has a contract price agreement while the other part does not
have a contract price, the net realizable value shall be determined separately, and the corresponding cost shall be
compared to respectively determine the amount of provision or reversal for inventory falling price reserves.
4. Inventory system
Inventory system is the perpetual inventory system.
5. Amortization of low-value consumables and packaging materials
(1) Low-value consumables
Amortization is carried out according to the number of times of use.
(2) Wrappage
Amortization is carried out according to the number of times of use.
16. Contractual asset
Not applicable
17. Contract cost
Not applicable
18. Assets held for sale
1. Classification of non-current assets or disposal groups held for sale
The Company classifies non-current assets or disposal groups that meet all of the following conditions as
held-for-sale: 1)according to the practice of selling this type of assets or disposal groups in a similar transaction,
the non-current assets or disposal group can be sold immediately at its current condition; 2)The sale is likely to
occur, that is, the Company has made resolution on the selling plan and obtained definite purchase commitment,
the selling is estimated to be completed within one year.
The non-current assets or disposal group acquired by the company specifically for resale shall be classified as held
for sale on the date of acquisition if meets the condition of “expected to complete the sale within one year” on the
acquisition date, and is likely to meet other classification conditions of held for sale in the short term (usually 3
months) .
Due to one of the following reasons beyond the company’s control, the transaction among non-related parties
cannot be completed within one year, and the company still promises to sell non-current assets or disposal groups,
continue to classify non-current assets or disposal groups as held for sale: 1) The buyer or other parties
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accidentally set the conditions that caused the sale to be delayed. The company has taken timely action against
these conditions and is expected to be able to smoothly resolve the delay factors within one year from the setting
of the conditions that caused the sale to be delayed; 2) Rare circumstances have caused the non-current assets held
for sale or the disposal group to fail to complete the sale within one year. The company has taken necessary
measures to address these new situations in the first year and has re-satisfied the classification conditions of the
held for sale categories.
2. Measurement of non-current assets or disposal groups held for sale
1) Initial measurement and subsequent measurement
When initially measuring and remeasuring the non-current assets or disposal groups held for sale on the balance
sheet date, if the book value is higher than the net value of fair value minus selling expenses, the book value shall
be written down to the net amount after deducting selling expenses from fair value, the written-down amount is
recognized as asset impairment loss, and included in the current profits and losses, and provision for impairment
of assets held for sale is made.
For non-current assets or disposal groups classified as held-for-sale categories on the acquisition date, compare
the initial measurement amount assuming that they are not classified as held-for-sale with the net amount after
deducting selling expenses from fair value at the initial measurement, and measure the lower of the two. Except
for the non-current assets or disposal groups obtained in a business combination, the difference arising from the
net amount of the non-current assets or disposal groups after deducting selling expenses from fair value and used
as the initial measurement amount is included in the current profit and loss.
For the amount of asset impairment losses confirmed by the disposal group held for sale, the book value of the
goodwill in the disposal group is first offset, and then the book value is offset in proportion based on the
proportion of the book value of each non-current asset in the disposal group.
Non-current assets held for sale or non-current assets in the disposal group are not depreciated or amortized, and
interest and other expenses on liabilities in the disposal group held for sale continue to be recognized.
2) Accounting treatment of asset impairment loss reversal
If the net amount of the fair value of the non-current assets held for sale increases after subtracting the selling
expenses on the subsequent balance sheet date, the previously written-down amount shall be recovered and
reversed within the amount of the asset impairment losses recognized after being classified as held for sale, and
the reversed amount is included in the current profits and losses. Asset impairment losses recognized before being
classified as held for sale shall not be reversed.
On the subsequent balance sheet date, if the net amount of the fair value of the disposal group held for sale
increases after subtracting the selling expenses, the previously written-down amount shall be recovered and
reversed within the amount of the asset impairment losses recognized as non-current assets after being classified
as held for sale, and the reversed amount is included in the current profits and losses. The book value of the
deducted goodwill and the asset impairment losses recognized before the non-current assets are classified as held
for sale shall not be reversed.
For subsequent reversal of the asset impairment losses confirmed by the disposal group held for sale, its book
value is increased in proportion based on the proportion of the book value of each non-current asset in the disposal
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group except for the goodwill.
3) Accounting treatment no longer being classified as held for sale and being derecognized
When non-current assets or disposal groups no longer continue to be classified as held for sale as they no longer
meet the classification conditions of the held for sale category or non-current assets are removed from the held for
sale disposal group, measure based on the lower of the following two: a. Book value before being classified as
held for sale, the amount adjusted according to the depreciation, amortization, or impairment that should have
been recognized under the assumption that it is not classified as held for sale; b. Recoverable amount.
When derecognizing non-current assets or disposal groups held for sale, the unrecognized gains or losses shall be
included in the current profits and losses.
19. Creditors’ investment
Not applicable
20. Other creditors’ investment
Not applicable
21. Long-term account receivable
Based on whether its credit risk has increased significantly since its initial recognition, the Company uses an
amount equivalent to expected credit losses in the next 12 months or the entire duration to measure long-term
receivable impairment losses. Except for long-term receivables whose credit risk is assessed individually,
impairment losses are accrued based on their credit risk characteristics.
22. Long-term equity investment
1. Judgment of joint control and significant influence
According to the relevant agreement, there is mutual control over an arrangement, and the relevant activities of
the arrangement must be agreed by the participants who share the control rights before making decisions, and it is
deemed as joint control. Having the power to participate in decision-making on the financial and operating
policies of the invested entity, but not being able to control or jointly control the formulation of these policies with
other parties, it is deemed as a significant influence.
2. Determination of investment cost
(1) In the case of a business combination under the same control, if the combining party pays cash, transfers
non-cash assets, assumes debts, or issues equity securities as the merger consideration, the share of the book value
of the acquired owner’s equity of the combined party in the consolidated financial statements of the ultimate
controlling party shall be used as its initial investment cost. The difference between the initial investment cost of
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long-term equity investment and the book value of the combined consideration paid or the total face value of the
issued shares shall adjust the capital reserve; if the capital reserve is insufficient to offset, adjust the retained
earnings.
The company realizes the long-term equity investment formed by the business combination under the same
control step by step through multiple transactions, and judges whether it is a "package deal". If it is a "package
deal", each transaction shall be accounted for as a transaction to obtain control for accounting treatment. If it is not
a "package deal", on the combining date, the initial investment cost shall be determined based on the share of the
book value of the combined party's net assets in the ultimate controlling party's consolidated financial statements
after the combination. The difference between the initial investment cost of the long-term equity investment on
the combining date and the book value of the long-term equity investment before the combination plus the sum of
the book value of the consideration newly paid for further obtaining shares on the combining date shall adjust the
capital reserve; if the capital reserve is insufficient to offset , adjust the retained earnings.
(2) In the case of a business combination not under the same control, the fair value of the combined consideration
paid on the purchase date shall be the initial investment cost.
The company realizes the long-term equity investment formed by business combination not under the same
control step by step through multiple transactions, and separates individual financial statements and consolidated
financial statements for relevant accounting treatment:
1) In individual financial statements, the sum of the book value of the equity investment originally held plus the
cost of the newly increased investment is used as the initial investment cost calculated by the cost method.
2) In the consolidated financial statements, judge whether it is a "package deal". If it is a "package deal", each
transaction shall be accounted for as a transaction to obtain control for accounting treatment. If it is not a "package
deal", the equity of the acquiree held before the purchase date shall be remeasured at the fair value of the equity
on the purchase date, and the difference between the fair value and its book value shall be included in the current
investment income.
If the equity held by the acquiree before the purchase date involves other comprehensive income calculated by the
equity method, the other comprehensive income related to it shall be converted to the current income on the
purchase date, except for other comprehensive income arising from changes in net liabilities or net assets of
defined benefit plans remeasured by the investee.
(3) Except for the formation of a business combination, for those obtained by paying cash, the actual purchase
price paid shall be its initial investment cost; for those obtained by issuing equity securities, the fair value of the
issued equity securities shall be its initial investment cost; for those acquired through debt restructuring, the initial
investment cost shall be determined according to "Accounting Standards for Business Enterprises No. 12 - Debt
Restructuring"; for those acquired through non-monetary asset exchanges, the initial investment cost shall be
determined in accordance with "Accounting Standards for Business Enterprises No. 7 - Non-monetary Asset
Exchanges".
3. Subsequent measurement and profit and loss confirmation methods
The long-term equity investment that controls the investee is accounted for by the cost method; the long-term
equity investment for associates and joint ventures is accounted for by the equity method.
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4. Handling method of disposing investments in subsidiaries step by step through multiple transactions until they
lose control
(1) Individual financial statements
For the disposed equity, the difference between its book value and the actual purchase price shall be included in
the current profit and loss. For the remaining equity, if it still has a significant impact on the invested entity or
performs joint control with other parties, it shall be converted to equity method accounting; if the invested entity
can no longer be controlled, jointly controlled or significantly affected, it shall be calculated in accordance with
relevant regulations of the "Accounting Standards for Business Enterprises No. 22 - Recognition and
Measurement of Financial Instruments".
(2) Consolidated financial statements
1) Step-by-step disposal of investments in subsidiaries through multiple transactions to the loss of control, and not
belonging to a "package deal"
Before the loss of control, the difference between the disposal cost and the net asset share continuing to be
calculated from the date of purchase or combination by the subsidiary corresponding to the disposal of long-term
equity investment shall adjust the capital reserve (capital premium), if the capital reserve is insufficient to offset ,
adjust the retained earnings.
When losing the control to the original subsidiary, the remaining equity shall be remeasured at its fair value on the
date of loss of control. The difference between the sum of the consideration obtained from the disposal of the
equity and the fair value of the remaining equity and the share of the original subsidiary’s net assets calculated
continuously from the date of purchase or merger according to the original shareholding ratio is included in the
current investment income when the control is lost, while offsets goodwill. Other comprehensive income related
to the equity investment of the original subsidiary shall be transferred to the current investment income when
losing the control.
2) Step-by-step disposal of investments in subsidiaries through multiple transactions to the loss of control, and
belonging to a "package deal"
Take each transaction as a transaction that disposes of a subsidiary and loses control for accounting treatment.
However, before the loss of control, the difference between each disposal cost and the share of the subsidiary’s net
assets corresponding to the disposal investment shall be recognized as other comprehensive income in the
consolidated financial statements, and shall be transferred to the profit and loss of current period when losing the
control.
23. Investment real estate
1. The investment real estate includes the rented land use rights, the land use rights which are held and prepared
for transfer after appreciation and the rented buildings.
2. Initial measurement of an investment real estate is based on the cost, the subsequent measurement is based on
cost model, and adopt the same method of depreciation or amortization as fixed assets and intangible assets.
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24. Fixed asset
(1) Recognition
Fixed assets is defined as the tangible assets which are held for the purpose of producing goods, providing
services, lease or for operation & management, and have more than one year of service life. Fixed assets should be
recognized for qualified the followed conditions at the same time:1) It is probable that the economic benefits
associated with the assets will flow into the Company; and 2) The cost of the assets can be measured reliably.
(2)Depreciation methods
Category Method Years of depreciation Scrap value rate Yearly depreciation rate
House and buildings Straight-line depreciation 35-40 3 2.77-2.43
Machinery equipment Straight-line depreciation 12 3 8.08
Transport equipment Straight-line depreciation 7 3 13.86
Electronic equipment Straight-line depreciation 5-7 3 33.33-13.86
Office and other
Straight-line depreciation 7 3 13.86
equipment
Decoration fee for the
Straight-line depreciation 10 0 10.00
self-owned house
(3) Recognition, measurement and depreciation of fixed assets held under finance lease
Not applicable
25. Construction in progress
1. The construction in progress is recognized when meet the follow conditions at the same time, that is the
economic benefits are likely to flow in and the cost can be measured reliably. Construction in progress shall be
measured in terms of the actual cost incurred prior to the construction of such asset to its intended serviceable
state.
2. When the construction in progress reaches the expected serviceable state, it will be transferred into fixed asses
according to the actual cost of the construction. Those who have reached the expected serviceable status but have
not yet processed the final account on completion, shall be transferred to fixed assets according to the estimated
value first. The original temporary estimated value shall be adjusted according to the actual cost after the final
accounts for the completion have been processed, but the previously accrued depreciation shall not be adjusted.
26. Borrowing expense
1. Recognition of capitalization of borrowing expenses
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Borrowing expenses that attributed for purchasing or construction of assets that are complying start to be
capitalized and counted as relevant assets cost; other borrowing expenses, reckoned into current gains and losses
after expenses recognized while occurred.
2. Period of capitalization
(1) Borrowing expenses start to be capitalized when all of the following conditions are met: 1) capital expenditure
has been occurred; 2) borrowing expenses have been occurred and 3) acquisition or construction necessary for the
assets to come into an expected serviceable state has been carried out.
(2) If an asset that meets the capitalization conditions is abnormally interrupted during the acquisition or
construction or in the production process, and the interruption time exceeds 3 consecutive months, the
capitalization of borrowing costs shall be suspended; the borrowing costs incurred during the suspension shall be
recognized as current expenses until the acquisition, construction or production of assets restarts.
(3) When the purchased, constructed or produced assets that meet the capitalization conditions reach the expected
usable or saleable state, the capitalization of borrowing costs shall cease.
3. Capitalization rate and capitalization amount of borrowing costs
If special loans are borrowed for the purpose of purchasing, constructing or producing assets that meet the
capitalization conditions, the amount after subtracting the interest income obtained by depositing the unused
borrowing funds in the bank or the investment income obtained by making a temporary investment for the unused
borrowing funds from the interest expenses actually incurred during the period of the special loans (including the
amortization of discounts or premiums determined in accordance with the actual interest rate method) shall
determine the amount of interest that should be capitalized; if the general borrowing is occupied for the purchase,
construction or production of assets that meet the capitalization conditions, the amount of interest of general
borrowings that should be capitalized shall be calculated and determined by multiplying the weighted average
number of accumulated asset expenditures in excess of asset expenditures of special borrowings by the
capitalization rate of general borrowings.
27. Biological assets
Not applicable
28. Oil and gas assets
Not applicable
29. Right-of-use assets
Not applicable
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30. Intangible assets
(1) Measurement, use of life and impairment testing
1. Intangible assets of the Company including land use rights, trademark and software, which are initially
measured at cost.
2. Intangible assets with limited service life shall be amortized systematically and reasonably within their service
life in accordance with the expected realization method of the economic benefits related to the intangible assets. If
the expected realization method can not be reliably determined, the straight-line method shall be adopted for
amortization. Specific year for amortization are as:
Item Period for amortization (Year)
Land use right 50
Trademark 10
Software 5
(2)Accounting policy of the internal R&D expenditure
Research expenditures for its internal R&D projects shall be recorded into the current gain/loss. Expenses incurred
during the development phase that satisfy the following condition at the same time are recognized as intangible
assets: 1)it is technically feasible that the intangible asset can be used or sold upon completion; 2)there is intention
to complete the intangible asset for use or sale; 3)the intangible asset can produce economic benefits, including
there is evidence that the products produced using the intangible asset has a market or the intangible asset itself
has a market; if the intangible asset is for internal use, there is evidence that there exists usage for the intangible
asset; 4) there is sufficient support in terms of technology, financial resources and other resources in order to
complete the development of the intangible asset, and there is capability to use or sell the intangible asset; and
5)the expenses attributable to the development phase of the intangible asset can be measured reliably.
31. Impairment of long term assets
For long-term equity investments, investment real estate measured by the cost model, fixed assets, construction in
progress, intangible assets with limited service life and other long-term assets, if there are signs of impairment on
the balance sheet date, estimate the recoverable amount. For goodwill formed by business combinations and
intangible assets with uncertain service life, regardless of whether there are signs of impairment, an impairment
test is conducted every year. Goodwill is tested for impairment in combination with its related asset groups or
combination of asset groups.
If the recoverable amount of the aforementioned long-term assets is lower than its book value, the asset
impairment provision shall be recognized according to the difference and included in the current profit and loss.
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32. Long-term prepaid expenses
General expenses that the long-term prepaid expenses have been accounted for and the amortization period is
more than 1 year (excluding 1 year). Long-term prepaid expenses are accounted for according to the actual
amount, and amortized evenly in installments during the benefit period or the prescribed period. If the long-term
prepaid expense item cannot benefit the future accounting period, all the amortized value of the item that has not
been amortized shall be transferred to the current profit and loss.
33. Contractual liabilities
Not applicable
34. Staff remuneration
(1) Accounting treatment of short term remuneration
In the period of employee services, short-term benefits are actually recognized as liabilities and charged to profit
or loss or relevant assets costs.
(2) Accounting treatment for after-service benefits
After-service benefits are divided into defined contribution plan and defined benefit plan.
(1) During the accounting period when employees provide services to the company, the amount of deposits
calculated according to the defined contribution plan is recognized as a liability and included in the current profit
and loss or the cost of related assets.
(2) The accounting treatment of defined benefit plans usually includes the following steps:
1) According to the expected cumulative welfare unit method, use unbiased and mutually consistent actuarial
assumptions to estimate relevant demographic variables and financial variables, measure the obligations arising
from the defined benefit plan, and determine the period of the relevant obligations. At the same time, the
obligations generated by the defined benefit plan are discounted to determine the present value of the defined
benefit plan obligations and current service costs;
2) If there are assets in a defined benefit plan, the deficit or surplus formed by subtracting the fair value of the
defined benefit plan’s assets from the current value of the defined benefit plan's obligations shall be recognized as
a defined benefit plan’s net liabilities or net assets. If there is a surplus in the defined benefit plan, the net assets of
the defined benefit plan shall be measured at the lower of the surplus of the defined benefit plan and the asset
ceiling;
3) At the end of the period, the employee compensation costs generated by the defined benefit plans are
recognized as three parts, i.e. service costs, net interest of the net liabilities or net assets of the defined benefit
plans, and changes in the remeasured net liabilities or net assets of the defined benefit plans, of which the service
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costs and the net interest of the net liabilities or net assets of the defined benefit plans are included in the current
profits and losses or the cost of related assets, and the changes in the remeasured net liabilities or net assets of the
defined benefit plans are included in other comprehensive income and not allowed to switch back to profits or
losses in the subsequent accounting period, but the amount recognized in other comprehensive income can be
transferred within the scope of equity.
(3)Accounting treatment for dismissal benefit
For dismissal benefit provided to employee, the compensation liability resulting from dismissal benefits shall be
recognized as early as possible in the following two conditions, and shall be recorded into current gain/loss:
1)when the company can not unilaterally withdraw severance benefits due to the labor relationship termination
plan or layoff proposal; 2) when the company recognizes the costs and expenses associated with a reorganization
involving the payment of severance benefits.
(4)Accounting treatment for other long term staff benefits
If other long term benefits provided to the employees meet the conditions of defined contribution plan, accounting
treatment shall be conducted in line with relevant provisions of defined contribution plan; the accounting
treatment of other long term benefit beyond that shall be conducted in accordance with the relevant provision of
defined benefit plan, in order to simplify relevant accounting treatment, the employee compensation costs incurred
are recognized as service costs; the total net amount (includes net interest of the net liability (or net asset) of other
long term employee benefits and changes resulting from remeasuring the net liability (or net asset) of the long
term employee benefit) shall be recorded into current gain/loss or relevant assets costs.
35. Lease liability
Not applicable
36. Accrual liability
1. when the responsibility relating to contingencies such as guarantee, litigation, product warranties and loss
contract etc. are became the current responsibility undertaken by the Company, the fulfilling of such responsibility
may lead to financial benefit outflow and such responsibility can be measured reliably for its value, the
responsibility shall be recognized as an accrual liability.
2. Accrual liabilities shall conduct initial measurement by best estimation of expenditures needed by fulfillment of
current responsibilities, and on balance sheet date, review the book value of the accrual liability.
37. Share-based payment
Not applicable
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38. Other financial instrument of preferred stocks and perpetual bond
Not applicable
39. Revenue
Accounting policy applicable for the revenue recognition and measurement
1. Revenue recognition principle
(1) Sale of goods
The income from the sale of goods is recognized when the following conditions are met at the same time: 1) The
main risks and rewards of the ownership of the goods are transferred to the purchaser; 2) The company no longer
retains the continued management rights normally associated with the ownership, and no longer implements
effectively control of the goods sold; 3) The amount of revenue can be reliably measured; 4) The relevant
economic benefits are likely to flow in; 5) The related costs that have occurred and will occur can be reliably
measured.
(2) Provision of labor services
The result of the provision of labor service transaction can be reliably estimated (at the same time, the amount of
income can be reliably measured, the relevant economic benefits are likely to flow in, the completion progress of
the transaction can be reliably determined, and the costs that have occurred and will occur in the transaction can
be measured reliably) on the balance sheet date, the percentage of completion method is used to confirm the
income from the provision of labor services, and the completion progress of the labor services transaction is
determined according to the proportion of the labor services provided to the total labor services to be provided. If
the result of the provision of labor service transaction cannot be reliably estimated on the balance sheet date, and
the labor costs incurred are expected to be compensated, the labor service income shall be recognized at the
amount of labor costs incurred, and the labor costs shall be carried forward at the same amount. If the labor costs
incurred are not expected to be compensated, and the labor costs incurred are included in the current profit sand
losses, and labor income shall not be recognized.
(3) Transfer of assets use rights
The income from the transfer of assets use rights is recognized when the relevant economic benefits are likely to
flow in and the amount of income can be reliably measured. Interest income is calculated and determined in
accordance with the time for others to use the Company's monetary funds and the actual interest rate; usage fee
income is calculated and determined in accordance with the charging time and method agreed in the relevant
contract or agreement.
2. Specific methods of revenue recognition
(1) Automobile sales revenue
The Company sells automobiles, and recognizes sales revenue after the automobiles are delivered to customers in
accordance with the agreement, and the payment is received or the right to receive payment is obtained.
(2) Jewellery retail and wholesale
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The Company's revenue from the sale of jewellery is divided into retail revenue and wholesale revenue according
to the sales method. Retail revenue is recognized when the physical goods have been delivered to consumers and
the payment has been collected. Wholesale revenue is realized when the physical goods have been delivered to the
customer, and the customer has signed for confirmation and received the payment or obtained the proof of
claiming payment.
(3) Property rental income
The Company's property rental income is recognized as revenue on an accrual basis, and sales revenue is
recognized when the leased assets are delivered to the lessee and the rent has been collected.
40. Government subsidy
1. Government subsidies are recognized when the following conditions are met at the same time: (1) The company
can meet the conditions attached to the government subsidies; (2) The company can receive government subsidies.
If a government subsidy is a monetary asset, it shall be measured at the amount received or receivable. If a
government subsidy is a non-monetary asset, it shall be measured at its fair value; if its fair value cannot be
obtained reliably, it shall be measured at its nominal amount.
2. Judgment basis and accounting treatment methods of government subsidies related to assets
Government documents stipulate that government subsidies used for purchase, construction or other forms of
long-term assets shall be classified as asset-related government subsidies. If the government document doesn’t
stipulate, judgment shall be made on the basis of the basic conditions that must be met to obtain the subsidies,
those used for purchase, construction or other forms of long-term assets shall be regarded as government subsidies
related to assets. Government subsidies related to assets are used to offset the book value of related assets or are
recognized as deferred income. If government subsidies related to assets are recognized as deferred income, they
shall be included in profit and loss in installments within the useful life of the relevant assets in a reasonable and
systematic way. Government subsidies measured at their nominal amounts are directly included in the current
profits and losses. If the relevant asset is sold, transferred, scrapped or damaged before the end of its useful life,
the undistributed deferred income balance shall be transferred to the current profits and losses of asset disposal.
3. Judgment basis and accounting treatment methods of government subsidies related to income
Government subsidies other than government subsidies related to assets are classified as government subsidies
related to income. For government subsidies that include both asset-related parts and income-related parts, it is
difficult to distinguish between assets-related and income-related government subsidies, and they are classified as
income-related government subsidies as a whole. If government subsidies related to income are used to
compensate related costs or losses in subsequent periods, they are recognized as deferred income, and included in
the current profits and losses or offset related costs during the period when related costs or losses are recognized,
and they are directly included in the current profits and losses or offset related costs when being used to
compensate related costs or losses that have occurred.
4. Government subsidies related to the company's daily operating activities are included in other income or offset
related costs in accordance with the nature of the economic business. Government subsidies not related to the
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company's daily activities are included in non-operating income and expenditure.
41. Deferred income tax assets and deferred income tax liabilities
1. According to the difference between the book value of assets and liabilities and their tax base (the tax base of
items that are not recognized as assets and liabilities can be determined in accordance with the tax law, the
difference between the tax base and its book amount), the deferred income tax assets or deferred income tax
liabilities are calculated and recognized according to the applicable tax rate during the period when the asset is
expected to be recovered or the liability is settled.
2. Recognition of deferred income tax assets is limited to the amount of taxable income that is likely to be
obtained to offset deductible temporary differences. On the balance sheet date, if there is conclusive evidence
showing that sufficient taxable income is likely to be obtained in the future to offset the deductible temporary
differences, recognize the deferred income tax assets that have not been recognized in the previous accounting
period.
3. On the balance sheet date, review the book value of deferred income tax assets. If it is likely that sufficient
taxable income cannot be obtained in the future to offset the benefits of deferred income tax assets, the book value
of the deferred income tax assets shall be written down. When it is likely to obtain sufficient taxable income, the
write-down amount shall be returned.
4. The company's current income taxes and deferred income taxes are included in the current profits and losses as
income tax expenses or income, but not including income tax arising from the following situations: (1) business
combination; (2) transactions or events directly recognized in owner's equity.
42. Leasing
(1)Accounting treatment for operating lease
As a leassee for the Company, rental expense of operating lease is included in the relevant asset costs or current
profits and losses through the straight-line method during every period. Initial direct costs shall be included in
profit or loss for the current period. Contingent rental shall be recorded in the current profits and losses in which
they actually arise.
As a lessor for the Company, rental expense of operating lease is included in current profits and losses through the
straight-line method during every period. The initial direct expenses incurred are directly recorded into current
profit/loss, except for those with a large amount to be capitalized and recorded into the profit/loss in stages.
Contingent rental shall be recorded in the current profits and losses in which they actually arise.
(2)Accounting treatment for financing lease
Not applicable
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43. Other important accounting policy and estimation
Segmental (divisional) report
The Company determines operating divisions based on internal organizational structure, management
requirements and internal reporting system. Operating divisions of the Company refers to the component that
meets the following conditions at the same time:
1. this component can generate income and incur expenses in the course of daily activities;
2. the management can evaluate the operating results of this component regularly to determine resources
allocation and evaluate its performance;
3. be able to obtain relevant accounting information such as the financial status, operating results and cash flow of
the component through analysis.
44. Changes of important accounting policy and estimation
(1)Changes of important accounting policies
□Applicable √ Not applicable
(2) Changes of important accounting estimate
□Applicable √ Not applicable
(3)Adjustment on the relevant items of financial statement at beginning of the year when implemented the
new revenue standards and new leasing standards since 2020
□ Applicable √ Not applicable
Whether need to adjust the balance sheet items at the beginning of the year
□Yes √No
Explain the reasons of no need to adjust the balance sheet items at the beginning of the year
On 5 July 2017, the “Notice Concerning Amendments and Issuance” (Cai Kuai [2017] No.22) (hereinafter referred to as New
Revenue Standard) was issued by Ministry of Finance, and requires the enterprises listed in China shall be implemented since 1 Jan.
2020. The Company prepare the disclosure of accounting statement in accordance with the New Revenue Standard since 1 Jan. 2020,
and there is no need to retroactively adjust the comparability number in 2019, change of the accounting policy will not affect relevant
financial indicators of the Company for 2019.
(4) Retrospective adjustment of early comparison data description when implemented the new revenue
standards and new leasing standards since 2020
□ Applicable √ Not applicable
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45. Other
VI. Taxes
1. Type of tax and rate for main applicable tax
Taxes Basis Rate
VAT Selling goods or providing taxable services 13%, 11%, 9%, 5%, 6% and 3%
Price-based resource tax, 1.2 percent of the
Property tax remaining value after deducting 30% of the 1.2%
original value of the property;
Urban maintenance and construction tax Turnover tax payable 7%
Educational surtax Turnover tax payable 3%
Local education surcharge Turnover tax payable 2%
Enterprise income tax Taxable income 20%, 25%
Rate of income tax for different taxpaying body:
Taxpaying body Rate of income tax
Shenzhen Xinyongtong Motor Vehicle Testing Equipment Co.,
20%
Ltd.
Other taxpaying body than the above 25%
2. Tax preferential
According to the “Notice on Implementation of Preferential Tax-reduction & Exemption Policies for Small &
Micro Enterprises”(Cai Shui [2019] No.13) issued by SAT (State Administration of Taxation), Shenzhen
Xinyongtong Automobile Inspection Equipment Co. Ltd enjoys the preferential tax policies for small & micro
enterprises with enterprise income tax at the rate of 20%.
3. Other
VII. Annotation to main items of consolidated financial statements
1. Monetary funds
In RMB
Item Ending balance Opening balance
Cash on hand 52,095.50 120,351.17
Cash in bank 333,557,214.12 428,731,254.87
Total 333,609,309.62 428,851,606.04
The total amount of money that 28,671,414.00 28,183,348.23
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has restrictions on use due to mortgage,
pledge or freezing
Other explanation:
Up to 30 June 2020, the Company’s right to use of currency funds under restrictions is 28,671,414.00 yuan, which
is the supervision fund by the Company developed the land plot 03 project of the upgrading project of
Tellus-Gman Gold Jewelry Industrial Park.
2. Tradable financial assets
In RMB
Item Ending balance Opening balance
Financial assets measured by fair value and
with variation reckoned into current 115,128,569.86 60,486,575.34
gains/losses
Including:
Debt instrument investment 115,128,569.86 60,486,575.34
Including:
Total 115,128,569.86 60,486,575.34
Other explanation:
3. Derivative financial assets
Not applicable
4. Note receivable
Not applicable
5. Account receivable
(1) Category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Account receivable
with bad debt 49,125,8 49,125,8 49,125,86 49,125,86
44.59% 100.00% 30.16% 100.00%
provision accrual on 62.29 62.29 2.29 2.29
a single basis
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Including:
Account receivable
with bad debt 61,057,3 538,319. 60,519,07 113,750,7 1,137,507 112,613,22
55.41% 0.88% 69.84% 1.00%
provision accrual on 95.46 76 5.70 31.59 .32 4.27
portfolio
Including:
110,183, 49,664,1 60,519,07 162,876,5 50,263,36 112,613,22
Total 100.00% 45.07% 100.00% 30.86%
257.75 82.05 5.70 93.88 9.61 4.27
Bad debt provision accrual on single basis:
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
The accounts are more
Shenzhen Jinlu Industry than 10 years old and are
9,846,607.00 9,846,607.00 100.00%
not expected to be
and Trade Co., Ltd.
recovered
The accounts are more
Guangdong Zhanjiang
than 10 years old and are
Sanxing Auto Service 4,060,329.44 4,060,329.44 100.00%
not expected to be
Co., Ltd. recovered
The accounts are more
than 10 years old and are
Wang Changlong 2,370,760.40 2,370,760.40 100.00%
not expected to be
recovered
The accounts are more
Huizhou Jiandacheng
than 10 years old and are
Daoqiao Engineering 2,021,657.70 2,021,657.70 100.00%
not expected to be
Company recovered
The accounts are more
Jiangling Automobile than 10 years old and are
1,191,059.98 1,191,059.98 100.00%
not expected to be
Factory
recovered
The accounts are more
Yangjiang Auto Trade than 10 years old and are
1,150,000.00 1,150,000.00 100.00%
not expected to be
Co., Ltd.
recovered
The accounts are more
Guangdong Materials than 10 years old and are
1,862,000.00 1,862,000.00 100.00%
not expected to be
Group Corp
recovered
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The accounts are more
than 10 years old and are
Other 26,623,447.77 26,623,447.77 100.00%
not expected to be
recovered
Total 49,125,862.29 49,125,862.29 --
Bad debt provision accrual on portfolio:
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Aging portfolio 19,577,459.23 123,520.40 0.63%
Jewelry sales business portfolio 41,479,936.23 414,799.36 1.00%
Total 61,057,395.46 538,319.76
Explanation on portfolio determines:
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses, please refer
to the disclosure of other account receivables to disclose related information about bad-debt provisions:
□ Applicable √Not applicable
By account age
In RMB
Account age Ending balance
Within one year (including one year) 61,057,395.46
Over 3 years 49,125,862.29
Over 5 years 49,125,862.29
Total 110,183,257.75
(2) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
In RMB
Amount changed in the period
Category Opening balance Collected or Ending balance
Accrual Written-off Other
reversal
Accounts
receivable with
single item 49,125,862.29 49,125,862.29
provision for bad
debts
Accounts
1,137,507.32 414,799.36 1,013,986.92 538,319.76
receivable with
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provision for bad
debts by
combination
Total 50,263,369.61 414,799.36 1,013,986.92 49,664,182.05
(3) Account receivable actually written-off in the period
Not applicable
(4) Top 5 account receivables at ending balance by arrears party
In RMB
Ending balance of accounts Proportion in total receivables at Bad debt preparation ending
Enterprise
receivable ending balance balance
Shenzhen Jinlu Industry
9,846,607.00 8.94% 9,846,607.00
and Trade Co., Ltd.
Guangdong Zhanjiang
Sanxing Auto Service Co., 4,060,329.44 3.69% 4,060,329.44
Ltd.
Shenzhen Shangjinyuan
3,246,835.81 2.95% 32,468.36
Jewelry Industry Co., Ltd.
Tan Changyun 2,969,392.64 2.69% 29,693.93
Wang Changlong 2,370,760.40 2.15% 2,370,760.40
Total 22,493,925.29 20.42% 16,339,859.13
(5) Account receivable derecognition due to financial assets transfer
Not applicable
(6) Assets and liabilities resulted by account receivable transfer and continues involvement
Not applicable
6. Account receivable financing
In RMB
Changes of account receivable financing and change of fair value in the period
□ Applicable √Not applicable
If the impairment provision of account receivable financing is made in accordance with the general model of expected credit losses,
please refer to the disclosure of other account receivables to disclose related information about impairment provision:
□ Applicable √Not applicable
100
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
7. Accounts paid in advance
(1) By account age
In RMB
Ending balance Opening balance
Account age
Amount Ratio Amount Ratio
Within one year 17,075,615.18 99.93% 12,671,077.95 99.90%
1-2 years 632.00 0.00% 632.00 0.00%
Over 3 years 11,893.94 0.07% 11,893.94 0.09%
Total 17,088,141.12 100.00% 12,683,603.89 100.00%
(2) Top 5 account paid in advance at ending balance by prepayment object
Name Ending balance Proportion in prepayment balance at
the end of period (%)
FAW Toyota Motor Sales Co., Ltd. 8,794,912.61 51.47%
Beijing Fugong Lide Technology Development 3,114,328.95 18.23%
Co., Ltd.
Toyota Motor (China) Investment Co., Ltd. 2,033,274.00 11.90%
Shenzhen Dingye Building Decoration 1,198,130.04 7.01%
Engineering Co., Ltd.
Alight Automotive Technology Co., Ltd. 702,764.09 4.11%
Total 15,843,409.69 92.72%
8. Other account receivable
In RMB
Item Ending balance Opening balance
Dividend receivable 39,647,732.42 39,647,732.42
Other account receivable 5,969,946.53 5,260,813.98
Total 45,617,678.95 44,908,546.40
(1) Interest receivable
Not applicable
101
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(2) Dividend receivable
1) Category
In RMB
Item (or invested unit) Ending balance Opening balance
China Pudong Development Machinery
547,184.35 547,184.35
Industry Co., Ltd
Shenzhen Dongfeng Motor Co., Ltd. 39,100,548.07 39,100,548.07
Total 39,647,732.42 39,647,732.42
2) Important dividend receivable with account age over one year
Not applicable
3) Accrual of bad debt provision
□ Applicable √Not applicable
(3) Other account receivable
1) By nature
In RMB
Nature Ending book balance Opening book balance
Deposit margin 191,787.80 35,477.21
Reserve fund 195,000.00 43,385.72
Interim payment receivable 57,937,858.58 57,536,664.77
Total 58,324,646.38 57,615,527.70
2) Accrual of bad debt provision
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2020 2,515,818.56 49,838,895.16 52,354,713.72
Balance of Jan. 1, 2020
—— —— —— ——
in the period
102
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Current accrual 17.90 17.90
Current switch back 31.77 31.77
Balance on Jun. 30, 2020 2,515,804.69 49,838,895.16 52,354,699.85
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
In RMB
Account age Ending balance
Within one year (including one year) 3,383,256.24
1-2 years 110,132.23
2-3 years 116,202.70
Over 3 years 54,715,055.21
3-4 years 25,191.12
4-5 years 251,466.43
Over 5 years 54,438,397.66
Total 58,324,646.38
3) Bad debt provision accrual, collected or reversal in the period
Bad debt provision accrual in the period:
In RMB
Amount changed in the period
Category Opening balance Collected or Ending balance
Accrual Written off Other
reversal
Provision for bad
debts by 52,354,713.72 17.90 31.77 52,354,699.85
combination
Total 52,354,713.72 17.90 31.77 52,354,699.85
4) Other account receivable actually written-off in the period
Not applicable
5) Top 5 other receivables at ending balance by arrears party
In RMB
Ratio in total ending Ending balance of
Enterprise Nature Ending balance Account age
balance of other bad debt reserve
103
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
account receivables
Zhongqi South
China Auto Sales Intercourse funds 9,832,956.37 Over 3 years 16.86% 9,832,956.37
Company
South Industry &
TRADE Shenzhen Intercourse funds 7,359,060.75 Over 3 years 12.62% 7,359,060.75
Industrial Company
Shenzhen Zhonghao
Intercourse funds 5,000,000.00 Over 3 years 8.57% 5,000,000.00
(Group) Co., Ltd
Shenzhen Kaifeng
Special Automobile Intercourse funds 4,413,728.50 Over 3 years 7.57% 4,413,728.50
Industry Co., Ltd.
Gold Beili Electrical
Appliances Intercourse funds 2,706,983.51 Over 3 years 4.64% 2,706,983.51
Company
Total -- 29,312,729.13 -- 50.26% 29,312,729.13
6) Other account receivables related to government grants
Not applicable
7) Other receivable for termination of confirmation due to the transfer of financial assets
Not applicable
8) The amount of assets and liabilities that are transferred other receivable and continued to be involved
Not applicable
9. Inventories
Does the company need to comply with the disclosure requirements of the real estate industry
No
(1) Category
In RMB
Ending balance Opening balance
Item Provision for Provision for
Book balance Book value Book balance Book value
inventory inventory
104
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
depreciation or depreciation or
contract contract
performance cost performance cost
impairment impairment
provision provision
Raw materials 15,148,137.86 14,772,382.17 375,755.69 15,079,409.32 14,772,382.17 307,027.15
Inventory 28,859,715.44 14,121,481.67 14,738,233.77 35,204,057.35 14,121,481.67 21,082,575.68
Total 44,007,853.30 28,893,863.84 15,113,989.46 50,283,466.67 28,893,863.84 21,389,602.83
(2) Provision for inventory depreciation or contract performance cost impairment provision
In RMB
Current amount increased Current amount decreased
Item Opening balance Reversal or Ending balance
Accrual Other Other
write-off
Raw materials 14,772,382.17 14,772,382.17
Inventory 14,121,481.67 14,121,481.67
Total 28,893,863.84 28,893,863.84
(3) Explanation on inventories with capitalization of borrowing costs included at ending balance
Not applicable
(4) Description of the current amortization amount of contract performance costs
Not applicable
10. Contract assets
Not applicable
11. Assets held for sale
Not applicable
12. Non-current asset due within one year
Not applicable
13. Other current assets
In RMB
105
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Item Ending balance Opening balance
Input VAT to be deducted 2,970,702.64 3,403,969.23
Total 2,970,702.64 3,403,969.23
14. Creditors’ investment
Not applicable
15. Other creditors’ investment
Not applicable
16. Long-term account receivable
(1) Long-term account receivable
In RMB
Ending balance Opening balance
Discount rate
Item Bad debt Bad debt
Book balance Book value Book balance Book value interval
provision provision
Related
2,179,203.68 2,179,203.68 2,179,203.68 2,179,203.68
transactions
Total 2,179,203.68 2,179,203.68 2,179,203.68 2,179,203.68 --
Impairment of bad debt provision
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance of Jan. 1, 2020 2,179,203.68 2,179,203.68
Balance of Jan. 1, 2020
—— —— —— ——
in the period
Balance of Jun. 30, 2020 2,179,203.68 2,179,203.68
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
(2) Long-term account receivable derecognition due to financial assets transfer
Not applicable
106
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(3) Assets and liabilities resulted by long-term account receivable transfer and continues involvement
Not applicable
17. Long-term equity investment
In RMB
Current changes (+,-)
Ending
Other Cash
Opening Investme Accrual Ending balance
The Additiona comprehe dividend
balance nt gains Other of balance of
invested l Capital nsive or profit
(book recognize equity impairme Other (book impairme
entity investmen reduction income announce
value) d under change nt value) nt
t adjustmen d to
equity provision provision
t issued
I. Joint venture
Shenzhen
Tellus
Gman 70,155,38 4,039,637 74,195,02
Investme 3.50 .29 0.79
nt Co.,
Ltd
Shenzhen
Tellus
Hang 11,845,45 300,297.7 12,145,74
Investme 2.17 6 9.93
nt Co.,
Ltd.
82,000,83 4,339,935 86,340,77
Subtotal
5.67 .05 0.72
II. Associated enterprise
Shenzhen
Zung Fu
Tellus 33,313,73 4,376,011 37,689,74
Auto 2.20 .38 3.58
Service
Co., Ltd.
Shenzhen
Automobi
le 2,026,407 -345,335. 1,681,072
Industry .98 82 .16
Import
and
107
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Export
Co., Ltd.
Shenzhen
Dongfeng 44,837,56 151,256.2 44,988,82
Motor 8.20 3 4.43
Co., Ltd.
Shenzhen
Xinyongt
ong Oil
Pump 127,836.5
Environm 9
ent
Protection
Co., Ltd.
Shenzhen
Xinyongt
ong 41,556.83
Consultan
t Co., Ltd.
Shenzhen
Tellus
Automobi
le Service
Chain
Co., Ltd.
[Note 3]
Shenzhen
Xinyongt
ong Auto
Service
Co.,
Ltd.[ Not
e 3]
Shenzhen
Xinyongt
ong
Dongxiao
Auto
Service
Co.,
Ltd.[ Not
e 3]
108
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Shenzhen
Yongtong
Xinda
Inspectio
n
Equipmen
t Co.,
Ltd.[ Not
e 3]
Hunan
Changyan
g
1,810,540
Industrial
.70
Co.,
Ltd.[ Not
e 1]
Shenzhen
Jiecheng
Electronic 3,225,000
Co., .00
Ltd.[ Not
e 1]
Shenzhen
Xiandao
New
4,751,621
Materials
.62
Co.,
Ltd.[ Not
e 1]
China
Auto
Industrial
400,000.0
Shenzhen
0
Trading
Company
[Note 1]
Shenzhen
General
Standard 500,000.0
Co., 0
Ltd.[ Not
e 1]
109
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Shenzhen
Zhongqi
South
China 2,250,000
Auto .00
Sales
Company
[Note 1]
Shenzhen
Bailiyuan
Power
1,320,000
Supply
.00
Co.,
Ltd.[ Not
e 1]
Shenzhen
Yimin
Auto 200,001.1
Trading 0
Company
[Note 1]
Shenzhen
Torch
Spark
17,849.20
Plug
Industry
Company
Shenzhen
Hanligao
Technolo
gy 1,956,000
Ceramics .00
Co.,
Ltd.[ Not
e 2]
Shenzhen
South
Auto
6,700,000
Maintena
.00
nce
Center[N
ote 2]
110
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
80,177,70 4,181,931 84,359,64 23,300,40
Subtotal
8.38 .79 0.17 6.04
162,178,5 8,521,866 170,700,4 23,300,40
Total
44.05 .84 10.89 6.04
Other explanation:
[Note 1]: These companies have revoked their industrial and commercial registrations, and the company has made
full provision for impairment of such long-term equity investments.
[Note 2]: The operating period of Shenzhen Hanligao Technology Ceramics Co., Ltd was from September 21,
1993 to September 21, 1998, and the operation period of Shenzhen South Auto Maintenance Center was from July
12, 1994 to July 11, 2002, these companies have ceased operations for many years and their business registrations
have been revoked because they did not participate in the annual industrial and commercial inspection. The
Company has been unable to exercise effective control over these companies, and these companies are not
included in the consolidation scope of the Company's consolidated financial statements, the Company's
investment in these companies book value is zero.
[Note 3]: Book balance of these long-term equity investment is adjusted for profit and loss in accordance with the
equity method, the book balance is 0 yuan.
18. Other equity instrument investment
In RMB
Item Ending balance Opening balance
China Pudong Development Machinery
10,176,617.20 10,176,617.20
Industry Co., Ltd
Total 10,176,617.20 10,176,617.20
19. Other non-current financial assets
Not applicable
20. Investment real estate
(1) Measured at cost
√ Applicable □Not applicable
In RMB
Item House and building Land use right Construction in progress Total
I. Original book value
1.Opening balance 614,240,458.56 49,079,520.00 663,319,978.56
2.Current amount
increased
111
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(1) Outsourcing
(2) Inventory\fixed
assets\construction in
process transfer-in
(3) Increased by
combination
3.Current amount
decreased
(1) Disposal
(2) Other transfer-out
4.Ending balance 614,240,458.56 49,079,520.00 663,319,978.56
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 107,605,031.33 1,115,443.68 108,720,475.01
2.Current amount
8,543,675.81 557,518.39 9,101,194.20
increased
(1) Accrual or
8,543,675.81 557,518.39 9,101,194.20
amortization
3.Current amount
decreased
(1) Disposal
(2) Other transfer-out
4.Ending balance 116,148,707.14 1,672,962.07 117,821,669.21
III. Impairment provision
1.Opening balance
2.Current amount
increased
(1) Accrual
3. Current amount
decreased
112
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(1) Disposal
(2) Other transfer-out
4.Ending balance
IV. Book value
1.Ending book value 498,091,751.42 47,406,557.93 545,498,309.35
2. Opening book value 506,635,427.23 47,964,076.32 554,599,503.55
(2) Measure at fair value
□ Applicable √Not applicable
(3) Investment real estate without property certificate completed
In RMB
Item Book value Reasons
Shuibei Jewelry Building Phase I (Houses Uncompleted settlement, failure to handle
417,743,515.67
and Buildings)
the ownership certificate
Failure to handle the ownership
12 buildings in Sungang 16,267.01
certificate for historical reasons
Failure to handle the ownership
12 building shops in Sungang 50,731.71
certificate for historical reasons
Total 417,810,514.39
21. Fixed assets
In RMB
Item Ending balance Opening balance
Fixed assets 104,203,903.95 107,119,796.59
Total 104,203,903.95 107,119,796.59
(1) Fixed assets
In RMB
Office and Self-owned
House and Machinery Transport Electronic
Item other house Total
buildings equipment equipment equipment
equipment decoration fee
113
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
I. Original
book value:
1.Opening
266,262,162.27 11,370,001.49 5,187,935.34 9,732,341.99 3,030,248.40 2,697,711.99 298,280,401.48
balance
2.Current
amount 115,167.00 219,281.00 301,125.77 848,167.16 1,483,740.93
increased
(1)
115,167.00 219,281.00 301,125.77 848,167.16 1,483,740.93
Purchase
(2)
Construction in
progress
transfer-in
(3)
Increased by
combination
3.Current
amount 246,687.67 52,940.15 299,627.82
decreased
(1)
Disposal or 246,687.67 52,940.15 299,627.82
scrap
4.Ending
266,262,162.27 11,238,480.82 5,407,216.34 9,980,527.61 3,878,415.56 2,697,711.99 299,464,514.59
balance
II.
Accumulated
depreciation
1.Opening
164,059,471.10 8,364,746.10 3,201,785.74 6,873,351.21 1,999,468.42 2,416,329.26 186,915,151.83
balance
2.Current
amount 3,554,259.68 179,885.22 207,648.08 301,413.58 126,255.78 4,369,462.34
increased
(1)
3,554,259.68 179,885.22 207,648.08 301,413.58 126,255.78 4,369,462.34
Accrual
3.Current
222,018.92 47,437.67 269,456.59
amount
114
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
decreased
(1)
Disposal or 222,018.92 47,437.67 269,456.59
scrap
4.Ending
167,613,730.78 8,322,612.40 3,409,433.82 7,127,327.12 2,125,724.20 2,416,329.26 191,015,157.58
balance
III. Impairment
provision
1.Opening
3,555,385.70 319,675.11 6,165.00 17,984.71 64,859.81 281,382.73 4,245,453.06
balance
2.Current
amount
increased
(1)
Accrual
3.Current
amount
decreased
(1)
Disposal or
scrap
4.Ending
3,555,385.70 319,675.11 6,165.00 17,984.71 64,859.81 281,382.73 4,245,453.06
balance
IV. Book value
1.Ending
95,093,045.79 2,596,193.31 1,991,617.52 2,835,215.78 1,687,831.55 104,203,903.95
book value
2. Opening
98,647,305.47 2,685,580.28 1,979,984.60 2,841,006.07 965,920.17 107,119,796.59
book value
(2) Temporarily idle fixed assets
Not applicable
(3) Fixed assets by financing leased
Not applicable
115
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(4) Fixed assets leased out by operation
Not applicable
(5) Fix assets without property certification held
In RMB
Reasons for without the property
Item Book value
certification
Failure to handle the ownership certificate
32,456,952.25
Yongtong Building for historical reasons
Failure to handle the ownership certificate
Automotive building 16,023,300.79
for historical reasons
Tellus Building underground parking Parking lot is un-able to carried out the
9,248,131.94
certificate
Failure to handle the ownership certificate
4,760,273.67
Nuclear Office build for historical reasons
Failure to handle the ownership certificate
1#,2# and 3-5/F 3# plant of Taoyuan Road 3,650,542.96
for historical reasons
Tellus Building transformation layer 1,594,452.32 Un-able to carried out the certificate
Failure to handle the ownership certificate
16# Taohua Garden 1,435,947.00
for historical reasons
Failure to handle the ownership certificate
934,803.54
Shuibei Zhongtian comprehensive building for historical reasons
First floor of Bao’an commercial-residence Failure to handle the ownership certificate
919,474.29
for historical reasons
build
Failure to handle the ownership certificate
Warehouse 861,346.33
for historical reasons
Failure to handle the ownership certificate
Trade department warehouse 74,798.77
for historical reasons
Failure to handle the ownership certificate
Songquan Apartment (mixed) 11,203.94
for historical reasons
Failure to handle the ownership certificate
5,902.41
Hostel of Renmin North Road for historical reasons
Subtotal 71,977,130.21
Other explanation
116
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(6) Fixed assets disposal
Not applicable
22. Construction in progress
In RMB
Item Ending balance Opening balance
Construction in progress 74,408,194.38 47,654,393.55
Total 74,408,194.38 47,654,393.55
(1) Construction in progress
In RMB
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Tellus Shuibei
Jewelry Building 50,643,962.68 50,643,962.68 35,321,704.26 35,321,704.26
Phase II
421 Factory
Reconstruction 18,249,388.95 18,249,388.95 8,593,316.07 8,593,316.07
and Upgrade Item
Phase I and Phase
II Underground
4,679,302.48 4,679,302.48 3,710,247.00 3,710,247.00
Connection
Project
Treasure Item 835,540.27 835,540.27 29,126.22 29,126.22
Total 74,408,194.38 74,408,194.38 47,654,393.55 47,654,393.55
(2) Changes of major construction in progress
In RMB
Includin
Proporti g:
Accumul
Other on of amount Interest
Current Transfer- ated
Item Opening decrease Ending project of capitaliz
Budget amount in fixed Progress capitaliz
Name balance d in the balance investme capitaliz ation rate
increased assets ation of
Period nt in ation of in Period
interest
budget interest
in Period
117
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Tellus
Shuibei
35,321,7 15,322,2 50,643,9
Jewelry 9.83% 9.83% Other
04.26 58.42 62.68
Building
Phase II
421
Factory
Reconstr
8,593,31 9,656,07 18,249,3
uction 61.01% 61.01% Other
6.07 2.88 88.95
and
Upgrade
Item
Phase I
and
Phase II
Undergr 3,710,24 969,055. 4,679,30
94.34% 94.34% Other
ound 7.00 48 2.48
Connecti
on
Project
Treasure 29,126.2 806,414. 835,540.
1.67% 1.67% Other
Item 2 05 27
47,654,3 26,753,8 74,408,1
Total -- -- --
93.55 00.83 94.38
(3) The provision for impairment of construction in progress
Not applicable
(4) Engineering material
Not applicable
23. Productive biological asset
(1) Measured by cost
□ Applicable √Not applicable
(2) Measured by fair value
□ Applicable √Not applicable
118
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
24. Oil and gas asset
□ Applicable √Not applicable
25. Right-of-use asset
Not applicable
26. Intangible assets
(1) Intangible assets
In RMB
Non-patent
Item Land use right Patent Total
technology
I. Original book
value
1.Opening
50,661,450.00 128,500.00 1,582,145.00 52,372,095.00
balance
2.Current
46,017.70 46,017.70
amount increased
(1) Purchase 46,017.70 46,017.70
(2) internal
R&D
(3)
Increased by
combination
3.Current amount
decreased
(1) Disposal
4.Ending
50,661,450.00 128,500.00 1,628,162.70 52,418,112.70
balance
II. Accumulated
depreciation
1.Opening
713,015.84 89,622.68 1,008,230.81 1,810,869.33
balance
2.Current
538,721.58 2,674.98 97,335.90 638,732.46
amount increased
119
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(1) Accrual 538,721.58 2,674.98 97,335.90 638,732.46
3.Current
amount decreased
(1) Disposal
4.Ending
1,251,737.42 92,297.66 1,105,566.71 2,449,601.79
balance
III. Impairment
provision
1.Opening
balance
2.Current
amount increased
(1) Accrual
3.Current
amount decreased
(1) Disposal
4.Ending
balance
IV. Book value
1.Ending book
49,409,712.58 36,202.34 522,595.99 49,968,510.91
value
2. Opening
49,948,434.16 38,877.32 573,914.19 50,561,225.67
book value
(2) Land use rights without certificate of ownership
Not applicable
27. Expense on Research and Development
Not applicable
28. Goodwill
Not applicable
120
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
29. Long-term expenses to be apportioned
In RMB
Current amount
Item Opening balance Current amortization Other decreased Ending balance
increased
Renovation costs 13,606,805.49 337,672.41 1,049,167.62 12,895,310.28
Total 13,606,805.49 337,672.41 1,049,167.62 12,895,310.28
30. Deferred income tax asset /Deferred income tax liabilities
(1) Deferred income tax assets without offset
In RMB
Ending balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Asset impairment
34,557,965.16 8,639,491.29 34,635,849.55 8,658,962.39
provision
Total 34,557,965.16 8,639,491.29 34,635,849.55 8,658,962.39
(2) Deferred income tax liability without offset
Not applicable
(3) Deferred income tax assets and deferred income tax liabilities listed after off-set
In RMB
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 after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred income tax
8,639,491.29 8,658,962.39
asset
(4) Details of uncertain deferred income tax assets
In RMB
Item Ending balance Opening balance
Deductible temporary differences 126,645,220.59 127,244,422.02
Deductible loss 19,619,056.75 19,619,056.75
121
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Total 146,264,277.34 146,863,478.77
(5) Deductible losses of un-recognized deferred income tax assets expired on the followed year
In RMB
Year Ending amount Opening amount Note
2020 505,851.30 505,851.30
2021 1,484,364.61 1,484,364.61
2022 4,702,701.91 4,702,701.91
2023 5,499,309.62 5,499,309.62
2024 7,426,829.31 7,426,829.31
Total 19,619,056.75 19,619,056.75 --
31. Other non-current asset
In RMB
Ending balance Opening balance
Item Provision for Provision for
Book balance Book value Book balance Book value
impairment impairment
Advance payment for engineering
8,483,308.88 8,483,308.88 6,789,167.54 6,789,167.54
equipment
Information construction fund 933,740.18 933,740.18
Other 100,000.00 100,000.00 100,000.00 100,000.00
Total 9,517,049.06 9,517,049.06 6,889,167.54 6,889,167.54
Other explanation:
32. Short-term loans
(1) Category
Not applicable
33. Tradable financial liability
Not applicable
34. Derivative financial liability
Not applicable
122
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
35. Note payable
Not applicable
36. Account payable
(1) Account payable
In RMB
Item Ending balance Opening balance
Purchase of goods and services 8,863,245.61 5,671,144.03
Engineering equipment 58,728,301.55 63,416,286.39
Total 67,591,547.16 69,087,430.42
(2) Major accounts payable with age over one year
In RMB
Item Ending balance Reasons of outstanding or carry-over
Shenzhen Yinglong Jian’an (Group) Co.,
28,503,133.19 Project unsettled
Ltd.
Shenzhen SDG Real Estate Co., Ltd 6,054,855.46 Unrepayment from related enterprise
Shenzhen Yinuo Construction Engineering
4,274,022.22 Project unsettled
Co., Ltd.
Total 38,832,010.87 --
37. Accounts received in advance
(1) Accounts received in advance
In RMB
Item Ending balance Opening balance
Rent 158,872.79 491,560.38
Payment 14,257,422.49 26,808,262.33
Total 14,416,295.28 27,299,822.71
38. Contractual liabilities
Not applicable
123
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
39. Wage payable
(1) Wage payable
In RMB
Item Opening balance Current increased Current decreased Ending balance
I. Short-term
30,503,178.16 36,875,035.83 36,555,731.04 30,822,482.95
compensation
II. After-service
welfare-defined 701,616.73 384,408.27 916,481.15 169,543.85
contribution plans
III. Dismissed welfare 360,836.00 360,836.00
Total 31,204,794.89 37,620,280.10 37,833,048.19 30,992,026.80
(2) Short-term compensation
In RMB
Item Opening balance Current increased Current decreased Ending balance
1. Wage, bonus,
28,178,495.98 33,551,443.96 32,787,768.34 28,942,171.60
allowance and subsidy
2. Employees’ welfare 469,358.91 469,358.91
3. Social insurance
8,358.59 622,767.82 631,126.41
charges
Including: medical
7,172.62 543,280.30 550,452.92
insurance premium
Industrial injury
513.72 2,473.22 2,986.94
insurance premiums
Maternity insurance
672.25 77,014.30 77,686.55
premiums
4. Housing public reserve 2,041,648.34 1,755,734.00 2,173,133.46 1,624,248.88
5. Trade union fee and
274,675.25 475,731.14 494,343.92 256,062.47
education fee
Total 30,503,178.16 36,875,035.83 36,555,731.04 30,822,482.95
(3) Defined contribution plans
In RMB
Item Opening balance Current increased Current decreased Ending balance
1. Basic endowment
142,418.85 381,168.57 523,587.42
insurance premiums
2. Unemployment 1,352.03 3,239.70 4,591.73
124
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
insurance premiums
3. Enterprise annuity 557,845.85 388,302.00 169,543.85
Total 701,616.73 384,408.27 916,481.15 169,543.85
40. Taxes payable
In RMB
Item Ending balance Opening balance
VAT -358,235.15 551,626.76
Enterprise income tax 6,435,910.05 64,461,051.35
Personal income tax 339,337.61 342,986.08
Urban maintenance and construction tax 137,895.89 134,816.64
Land VAT 5,362,682.64 5,362,682.64
House property tax 811,135.85 266.04
Use tax of land 135,831.92 26,459.98
Educational surtax 83,895.38 82,529.27
Local education surcharges 55,930.25 55,019.51
Stamp tax 143,335.03 407,829.34
Other 11,811.88
Total 13,159,531.35 71,425,267.61
Other explanation:
41. Other account payable
In RMB
Item Ending balance Opening balance
Other account payable 99,453,009.14 101,266,802.49
Total 99,453,009.14 101,266,802.49
(1) Interest payable
Not applicable
(2) Dividend payable
Not applicable
125
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(3) Other account payable
1) By nature
In RMB
Item Ending balance Opening balance
Deposit margin 34,097,428.62 29,630,854.41
Related transactions 28,310,337.10
Withholding payments 30,877,029.60 14,218,478.78
Payable interim payment 34,478,550.92 29,107,132.20
Total 99,453,009.14 101,266,802.49
2) Significant other account payable with over one year age
Not applicable
42. Liability held for sale
Not applicable
43. Non-current liabilities due within one year
Not applicable
44. Other current liabilities
Not applicable
45. Long-term loans
Not applicable
46. Bonds payable
Not applicable
47. Lease liability
Not applicable
48. Long-term account payable
In RMB
126
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Item Ending balance Opening balance
Long-term account payable 3,920,160.36 3,920,160.36
Total 3,920,160.36 3,920,160.36
(1) By nature
In RMB
Item Ending balance Opening balance
Deposit of staff residence 3,908,848.40 3,908,848.40
Allocation for technology innovation
11,311.96 11,311.96
projects
Total 3,920,160.36 3,920,160.36
(2) Special account payable
Not applicable
49. Long-term wage payable
Not applicable
50. Accrual liabilities
In RMB
Item Ending balance Opening balance Causes
For details, please refer to note
Pending litigation 2,225,468.76 2,225,468.76 XIV 2 (2) of this financial
statement
Total 2,225,468.76 2,225,468.76 --
51. Deferred income
In RMB
Item Opening balance Current increased Current decreased Ending balance Causes
Government Receive government
139,400.00 139,400.00
subsidies subsidies
Total 139,400.00 139,400.00 --
Item with government grants involved:
In RMB
127
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Amount
Amount Cost Assets-relate
Opening New grants reckoned in Other Ending
Liability reckoned in reduction in d/income
balance in the Period non-operatio changes balance
other income the period related
n revenue
Elevator
Renewal
Subsidy Fund
for Futian
Assets-relate
District Old 139,400.00 139,400.00
d
Elevator
Renovation
Working
Group
52. Other non-current liabilities
Not applicable
53. Share capital
In RMB
Increased (decreased) in this period+,-
Opening Shares
Ending balance
balance New shares
Bonus shares converted from Other Subtotal
issued
public reserve
Total shares 431,058,320.00 431,058,320.00
54. Other equity instrument
Not applicable
55. Capital public reserve
In RMB
Item Opening balance Current increased Current decreased Ending balance
Capital premium (Share
425,768,053.35 425,768,053.35
capital premium)
Other capital reserve 5,681,501.16 5,681,501.16
Total 431,449,554.51 431,449,554.51
128
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
56. Treasury stock
Not applicable
57. Other comprehensive income
In RMB
Current Period
Less:
Less: written written in
in other other
comprehensi comprehe
ve income in nsive
Account
previous income in Belong to Belong to
Opening before Ending
Item period and previous Less : income parent minority
balance income tax balance
carried period and tax expense company shareholders
in the
forward to carried after tax after tax
period
gains and forward to
losses in retained
current earnings in
period current
period
II. Other comprehensive income
26,422.0
items which will be reclassified 26,422.00
0
subsequently to profit or loss
Including: Other comprehensive
26,422.0
income under equity method that 26,422.00
0
can transfer to gain/loss
26,422.0
Total other comprehensive income 26,422.00
0
58. Reasonable reserve
Not applicable
59. Surplus public reserve
In RMB
Item Opening balance Current increased Current decreased Ending balance
Statutory surplus
21,007,488.73 21,007,488.73
reserves
Total 21,007,488.73 21,007,488.73
129
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
60. Retained profit
In RMB
Item Current period Last period
Retained profit at the end of the previous period
387,423,510.78 184,535,322.70
before adjustment
Adjust the total Retained profits at the beginning
1,079,805.36
of the period (Increase +, Decrease -)
Total retained profit at the beginning of the
387,423,510.78 185,615,128.06
previous period before adjustment
Add: net profit attributable to shareholder of
25,594,985.78 219,669,708.47
parent company
Less: withdrawal of legal surplus reserve 17,861,325.75
Common stock dividends payable 18,104,449.44
Retained profit at period-end 394,914,047.12 387,423,510.78
61. Operating income and operating cost
In RMB
Current period Last period
Item
Income Cost Income Cost
Main business 193,056,348.40 153,545,320.45 274,182,882.36 209,294,422.75
Other business 3,995,441.89 1,229,267.07 4,085,856.97 1,199,589.67
Total 197,051,790.29 154,774,587.52 278,268,739.33 210,494,012.42
Income related information
In RMB
Contract classification Division 1 Division 2 Total
Including:
Auto sales 98,797,491.83
Automobile inspection
and maintenance and 19,138,132.58
parts sales
Property leasing and
62,152,861.68
services
Jewelry wholesale and
16,963,304.20
retail
Including:
Shenzhen 180,088,486.09
130
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Sichuan 16,963,304.20
62. Tax and surcharges
In RMB
Item Current period Last period
Consumption tax 228,067.46
Urban maintenance and construction tax 273,827.41 395,934.29
Education surcharge 195,109.16 282,810.15
House property tax 554,437.90 1,686,527.43
Use tax of land 365,803.85 218,743.88
Stamp duty 82,782.69 152,809.21
Other taxes -95,233.44 3,272.64
Total 1,376,727.57 2,968,165.06
63. Sales expenses
In RMB
Item Current period Last period
Staff remuneration 4,368,623.68 6,075,124.02
Advertising and exhibition expenses 190,434.21 238,736.65
Depreciation and amortization 762,935.85 710,671.25
Office expenses 266,706.77 283,392.38
Property and utilities 371,102.25 141,178.84
Transportation and business trip cost 6,650.61 147,134.39
Other 809,691.17 1,762,276.76
Total 6,776,144.54 9,358,514.29
64. Administration expenses
In RMB
Item Current period Last period
Staff remuneration 13,255,712.63 13,660,961.91
Office expenses 522,602.46 631,367.84
Transportation and business trip cost 105,949.65 159,511.67
131
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Business entertainment expenses 103,117.88 257,293.90
Depreciation and amortization 989,192.76 1,027,310.00
Consulting and service expenses 1,270,520.91 528,616.99
Other 954,904.32 613,566.95
Total 17,202,000.61 16,878,629.26
65. R&D expenses
Not applicable
66. Financial expenses
In RMB
Item Current period Last period
Interest expenses 46,986.20 4,765,937.06
Less: Interest income 2,453,494.99 1,152,054.69
Less: interest capitalized amount
Exchange loss 66,918.38 10,717.33
Other 137,439.86 133,176.06
Total -2,202,150.55 3,757,775.76
67. Other income
In RMB
Sources Current period Last period
VAT input tax deduction 6,611.29
Handling fee refund for withholding
36,471.10
personal income tax
Other 16,375.60
Total 52,846.70 6,611.29
68. Investment income
In RMB
Item Current period Last period
Long-term equity investment income
8,521,866.84 10,775,524.54
measured by equity
132
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Investment income of trading financial assets
4,359,623.66 5,935,926.39
during the holding period
Total 12,881,490.50 16,711,450.93
69. Net exposure hedge gains
Not applicable
70. Income of fair value changes
In RMB
Sources Current period Last period
Tradable financial assets -356,102.35
Total -356,102.35
71. Credit impairment loss
In RMB
Item Current period Last period
Loss of bad debt of other account
599,187.56 -184,419.32
receivable
Loss of bad debt of other account
13.87 286,085.46
receivable
Total 599,201.43 101,666.14
72. Assets impairment loss
Not applicable
73. Income from assets disposal
In RMB
Sources Current period Last period
Income from disposal of non-current assets 103,159.68
Total 103,159.68
74. Non-operating income
In RMB
Item Current period Last period Amount included in the current
133
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
non-recurring profit and loss
Government grants 230,000.00 230,000.00
Gains from non-current assets
52,583.13
damaged/scrap
Including: Fixed assets 52,583.13
Other 716,106.92 67,042.31 716,106.92
Total 946,106.92 119,625.44
Government grants reckoned into current gains/losses:
In RMB
Whether the
impact of
Whether Assets
Issuing subsidies on Amount of Amount of
Grants Issuing cause Property type special related/Incom
subject the current this period last period
subsidies e related
profit and
loss
Luohu
District
Government Industry and Income
230,000.00
grants Information related
Technology
Bureau
Other explanation:
Epidemic subsidy
75. Non-operating expenditure
In RMB
Amount included in the current
Item Current period Last period
non-recurring profit and loss
Other 29,059.48 833,400.00 29,059.48
Total 29,059.48 833,400.00 29,059.48
76. Income tax expense
(1) Income tax expense
In RMB
Item Current period Last period
Current income tax expenses 6,407,943.06 5,997,893.76
134
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Deferred income tax expenses 19,471.10 19,471.10
Adjustment for precious period 20,891.90 20,891.90
Total 6,448,306.06 6,038,256.76
(2) Adjustment process of accounting profit and income tax expenses
In RMB
Item Current period
Total profit 33,218,964.32
Income tax expenses calculated by statutory tax rate 8,304,741.08
Effect of adjusting income tax in the previous period 20,891.90
Impact of non taxable income -2,130,466.71
Unrecognized impacts of deductible temporary differences or
253,139.79
deductible losses on deferred income tax assets in the period
Income tax expenses 6,448,306.06
77. Other comprehensive income
Found more in annotations
78. Annotation of cash flow statement
(1) Cash received with other operating activities concerned
In RMB
Item Current period Last period
Deposit margin 3,272,399.10 23,334,956.48
Interest income 1,643,158.09 565,912.47
Intercourse funds and other 33,302,872.31 6,387,138.07
Total 38,218,429.50 30,288,007.02
Note of cash paid with other operating activities concerned:
(2) Cash paid with other operating activities concerned
In RMB
Item Current period Last period
Cash paid 18,510,703.27 13,629,937.63
Deposit margin 734,563.26 15,893,485.00
135
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Intercourse funds and other 29,438,222.21 639,082.23
Total 48,683,488.74 30,162,504.86
(3) Cash received with other investment activities concerned
In RMB
Item Current period Last period
Received equity transfer payment 20,870,000.00
Total 20,870,000.00
(4) Cash paid related with investment activities
Not applicable
(5) Cash received with other financing activities concerned
Not applicable
(6) Other cash paid related with financing activities
Not applicable
79. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Supplementary information Current period Last period
1. Net profit adjusted to cash flow of
-- --
operation activities:
Net profit 26,770,658.26 44,982,499.26
Add: Impairment provision for assets -599,201.43 -101,666.14
Depreciation of fixed assets, consumption of
oil assets and depreciation of productive 11,167,637.52 11,806,505.67
biology assets
Amortization of intangible assets 638,732.46 670,462.14
Amortization of long-term pending expenses 764,042.88 527,299.42
Loss from disposal of fixed assets, intangible
assets and other long-term assets (income is -101,666.14
listed with “-”)
136
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Losses on scrapping of fixed assets (income
23,933.75 -52,583.13
is listed with “-“)
Loss from change of fair value (income is
356,102.35
listed with “-“)
Financial expenses (income is listed with
46,986.20 4,765,937.06
“-”)
Investment loss (income is listed with “-”) -12,881,490.50 -16,711,450.93
Decrease of deferred income tax assets
19,471.10 19,471.10
(increase is listed with “-”)
Decrease of inventory (increase is listed with
6,275,613.37 -4,455,508.57
“-”)
Decrease of operating receivable accounts
48,012,932.94 -29,044,227.74
(increase is listed with “-”)
Increase of operating payable accounts
-63,289,096.70 15,128,987.30
(decrease is listed with “-”)
Net cash flow arising from operating
17,306,322.20 27,434,059.30
activities
2. Material investment and financing not
-- --
involved in cash flow
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 304,937,895.62 199,241,051.16
Less: Balance of cash at year-begin 400,668,257.81 142,848,120.69
Net increasing of cash and cash equivalents -95,730,362.19 56,392,930.47
(2) Net cash paid for obtaining subsidiary in the Period
Not applicable
(3) Net cash received by disposing subsidiary in the Period
Not applicable
(4) Constitution of cash and cash equivalent
In RMB
Item Ending balance Opening balance
I. Cash 304,937,895.62 400,668,257.81
Including: Cash on hand 52,095.50 120,351.17
Bank deposit available for payment 304,885,800.12 400,547,906.64
137
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
at any time
III. Balance of cash and cash equivalent at
304,937,895.62 400,668,257.81
period-end
Including: Cash and cash equivalent with
restriction used by parent company or 28,671,414.00 28,183,348.23
subsidiary in the Group
80. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period:
Nil
81. Assets with ownership or use right restricted
In RMB
Item Ending book value Reasons for restriction
Upgrading project of the Tellus-Gman
Monetary fund 28,671,414.00 Gold & Jewelry Industrial Park -
supervision funds for the 03# land
Total 28,671,414.00 --
82. Foreign currency monetary
(1) Foreign currency monetary
In RMB
Ending foreign currency
Item Convert rate Ending RMB balance converted
balance
Monetary funds -- --
Including: USD 856.00 7.0795 6,060.05
EURO
HKD
Account receivable -- --
Including: USD
EURO
HKD
138
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Long-term loans -- --
Including: USD
EURO
HKD
Other explanation:
(2) Explanation on foreign operational entity, including as for the major foreign operational entity,
disclosed main operation place, book-keeping currency and basis for selection; if the book-keeping
currency changed, explain reasons
□ Applicable √Not applicable
83. Hedging
Disclosed hedging items and relevant hedging instrument based on hedging’s category, disclosed qualitative and quantitative
information for the arbitrage risks:
Not applicable
84. Government grants
(1) Government grants
In RMB
Amount reckoned into current
Category Amount Item
gains/losses
Elevator Renewal Subsidy Fund
for Futian District Old Elevator 139,400.00 Deferred income
Renovation Working Group
Epidemic subsidy 230,000.00 Non operating income 230,000.00
(2) Government grants rebate
□ Applicable √Not applicable
85. Other
VIII. Changes of consolidation range
Not applicable
139
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
IX. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main operation Share-holding ratio
Subsidiary Registered place Business nature Acquired way
place Directly Indirectly
Shenzhen Tellus
Xinyongtong
Automobile Shenzhen Shenzhen Commerce 100.00% Establishment
Development Co.
Ltd.
Shenzhen
Dongchang
Yongtong
Shenzhen Shenzhen Commerce 95.00% Establishment
Automobile
Inspection Co.,
Ltd.
Shenzhen Bao’an
Shiquan
Shenzhen Shenzhen Commerce 100.00% Establishment
Industrial Co.,
Ltd.
Shenzhen SDG
Tellus Real Estate Shenzhen Shenzhen Manufacture 100.00% Establishment
Co., Ltd.
Shenzhen Tellus
Chuangying
Shenzhen Shenzhen Commerce 100.00% Establishment
Technology Co.,
Ltd.
Shenzhen
Xinyongtong
Automobile
Shenzhen Shenzhen Commerce 51.00% Establishment
Inspection
Equipment Co.
Ltd.
Shenzhen Auto
Industry and
Shenzhen Shenzhen Commerce 100.00% Establishment
Trade
Corporation
Shenzhen
Shenzhen Shenzhen Commerce 100.00% Establishment
Automotive
140
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Industry Supply
Corporation
Shenzhen SDG
Huari Auto
Shenzhen Shenzhen Commerce 60.00% Establishment
Enterprise Co.,
Ltd.
Shenzhen Huari
Anxin
Shenzhen Shenzhen Commerce 100.00% Establishment
Automobile
Inspection Ltd.
Shenzhen
Zhongtian
Shenzhen Shenzhen Commerce 100.00% Establishment
Industrial Co,.
Ltd.
Shenzhen Huari
TOYOTA
Shenzhen Shenzhen Commerce 60.00% Establishment
Automobile Sales
Service Co., Ltd.
Anhui Tellus
Starlight Jewelry
Hefei Hefei Commerce 51.00% Establishment
Investment Co.,
Ltd.
Anhui Tellus
Starlight Jewelry
Hefei Hefei Commerce 60.00% Establishment
Investment Co.,
Ltd.
Sichuan Tellus
Jewelry Tech. Chengdu Chengdu Commerce 66.67% Establishment
Co., Ltd.
Shenzhen Tellus
Baoku Supply
Chain Shenzhen Shenzhen Commerce 100.00% Establishment
Technology Co.,
Ltd.
(2) Important non-wholly-owned subsidiary
In RMB
Dividend announced to
Share-holding ratio of Gains/losses attributable Ending equity of
Subsidiary distribute for minority in
minority to minority in the Period minority
the Period
141
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Shenzhen Huari Toyota
40.00% -1,572.01 1,676,814.56
Auto Sales Co., Ltd
Shenzhen SDG Huari
40.00% 219,946.78 9,921,880.04
Auto Enterprise Co., Ltd.
Sichuan Tellus Jewelry
33.33% 672,524.17 3,721,379.80 51,457,806.19
Tech. Co., Ltd.
(3) Main finance of the important non-wholly-owned subsidiary
In RMB
Ending balance Opening balance
Subsidia Non-curr Non-curr Non-curr Non-curr
Current Total Current Total Current Total Current Total
ry ent ent ent ent
assets assets liabilities liabilities assets assets liabilities liabilities
assets liabilities assets liabilities
Shenzhe
n Huari
Toyota 62,803,8 4,564,67 67,368,5 63,176,5 63,176,5 66,208,2 4,780,91 70,989,1 66,793,2 66,793,2
Auto 94.10 5.29 69.39 32.99 32.99 79.12 2.24 91.36 24.94 24.94
Sales
Co., Ltd
Shenzhe
n SDG
Huari
50,621,5 23,096,2 73,717,8 48,763,1 48,763,1 48,495,2 24,078,7 72,573,9 48,169,1 48,169,1
Auto
53.07 68.59 21.66 21.55 21.55 44.11 18.09 62.20 29.04 29.04
Enterpris
e Co.,
Ltd.
Sichuan
Tellus
153,866, 231,131. 154,097, 681,426. 681,426. 164,965, 255,849. 165,221, 1,701,03 1,701,03
Jewelry
160.08 84 291.92 00 00 162.17 32 011.49 3.97 3.97
Tech.
Co., Ltd.
In RMB
Current period Last period
Cash flow Cash flow
Total Total
Subsidiary Operating from Operating from
Net profit comprehensi Net profit comprehensi
income operation income operation
ve income ve income
activity activity
Shenzhen
119,178,692. 106,372,651.
Huari Toyota -3,930.02 -3,930.02 1,564,040.84 133,522.54 133,522.54 3,616,339.12
47 09
Auto Sales
142
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Co., Ltd
Shenzhen
SDG Huari
16,003,589.0 18,957,565.7
Auto 549,866.95 549,866.95 -4,077,786.01 -58,474.42 -58,474.42 -3,733,976.75
1 1
Enterprise
Co., Ltd.
Sichuan
Tellus 16,963,304.2 59,442,155.9 92,578,958.7 -14,716,246.5
2,017,572.52 2,017,572.52 3,852,200.31 3,852,200.31
Jewelry Tech. 0 5 7 3
Co., Ltd.
(4) Significant restrictions on the use of enterprise group assets and pay off debts of the enterprise group
Nil
(5) Financial or other supporting offers to the structured entity included in consolidated financial statement
range
Nil
2. Transaction that has owners equity shares changed in subsidiary but still with controlling rights
Nil
3. Equity in joint venture and associated enterprise
(1) Important joint venture or associated enterprise
Share-holding ratio Accounting
treatment on
Joint venture or
Main operation investment for
Associated Registered place Business nature
place Directly Indirectly joint venture and
enterprise
associated
enterprise
Shenzhen Tellus Investment and
Equity method
Gman Investment Shenzhen Shenzhen establishment of 50.00%
accounting
Co., Ltd industries
Shenzhen Zung
Equity method
Fu Tellus Auto Shenzhen Shenzhen Sales of Benz 35.00%
accounting
Service Co., Ltd.
Shenzhen
Auto manufacture Equity method
Dongfeng Motor Shenzhen Shenzhen 25.00%
accounting
Co., Ltd. and maintain
143
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(2) Main financial information of the important joint venture
In RMB
Ending balance/Current period Opening balance/Last period
Shenzhen Tellus Gman Investment Co., Shenzhen Tellus Gman Investment Co.,
Ltd Ltd
Current assets 51,890,128.83 56,022,041.04
Including: Cash and cash equivalent 8,300,876.58 9,770,310.11
Non current assets 364,310,637.32 363,958,852.65
Total Assets 416,200,766.15 419,980,893.69
Current liabilities 33,267,810.35 34,420,126.74
Non current liabilities 234,500,000.00 245,250,000.00
Total liabilities 267,767,810.35 279,670,126.74
Shareholders' equity attributable to the
148,432,955.80 140,310,766.95
parent company
Share of net assets calculated by
74,216,477.90 70,155,383.48
shareholding ratio
--Others 74,195,020.79 70,155,383.48
Fair value of the equity investment of joint
37,081,024.74 41,866,318.34
venture with public offers concerned
Business income 6,840,207.33 7,181,939.67
Financial expenses 2,693,091.50 1,685,627.29
Income tax expenses 8,079,274.57 7,304,384.91
Other comprehensive income 8,079,274.57 7,304,384.91
51,890,128.83 56,022,041.04
Dividends received from joint venture in
8,300,876.58 9,770,310.11
the year
(3) Main financial information of the important associated enterprise
In RMB
Ending balance/Current period Opening balance/Last period
Shenzhen Zung Fu Tellus Shenzhen Dongfeng Shenzhen Zung Fu Tellus Shenzhen Dongfeng
Auto Service Co., Ltd. Motor Co., Ltd. Auto Service Co., Ltd. Motor Co., Ltd.
Current assets 230,248,569.76 435,453,513.27 229,415,509.00 479,352,285.14
144
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Non current assets 38,674,818.99 212,332,449.42 22,735,996.00 214,963,230.31
Total Assets 268,923,388.75 647,785,962.69 252,151,505.00 694,315,515.45
Current liabilities 149,717,250.16 417,995,210.15 156,969,413.00 459,613,457.00
Non current liabilities 16,462,156.27 65,811,471.27 66,941,248.16
Total liabilities 166,179,406.43 483,806,681.42 156,969,413.00 526,554,705.16
-13,887,156.97 -11,589,462.52
Minority interests 102,743,982.32 177,866,438.24 95,182,092.00 179,350,272.81
Shareholders' equity
attributable to the parent 35,960,393.81 44,466,609.56 33,313,732.20 44,837,568.20
company
—Unrealized profit of
37,689,743.58 44,988,824.43 33,313,732.20 44,837,568.20
internal trading
Book value of equity
investment in associated 542,501,386.62 154,117,515.10 568,266,810.59 219,400,462.98
enterprise
Fair value of the equity
investment of associated
12,502,889.67 -345,684.65 12,457,996.18 10,121,106.72
enterprise with public
offers concerned
Net profit of the
12,502,889.67 -345,684.65 12,457,996.18 10,121,106.72
termination of operation
Other comprehensive
17,500,000.00 64,100,548.07
income
Total comprehensive
230,248,569.76 435,453,513.27 229,415,509.00 479,352,285.14
income
38,674,818.99 212,332,449.42 22,735,996.00 214,963,230.31
Dividends received from
associated enterprise in 268,923,388.75 647,785,962.69 252,151,505.00 694,315,515.45
the year
Other explanation
(4) Financial summary for non-important Joint venture and associated enterprise
In RMB
Ending balance/Current period Opening balance/Last period
145
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Joint venture: -- --
Total book value of investment 12,145,749.93 11,845,452.17
Amount based on share-holding ratio -- --
-- Net profit 588,819.14 363,981.77
-- Total comprehensive income 588,819.14 363,981.77
Associated enterprise: -- --
Total book value of investment 1,681,072.16 2,026,407.98
Amount based on share-holding ratio -- --
-- Net profit -959,266.17 -409,250.15
-- Total comprehensive income -959,266.17 -409,250.15
Other explanation:
1. Not important joint venture：Shenzhen Tellus Hang Investment Co., Ltd.
2. Not important associated enterprise: Shenzhen Automobile Industry Import and Export Co., Ltd.
(5) Major limitation on capital transfer ability to the Company from joint venture or associated enterprise
Nil
(6) Excess loss occurred in joint venture or associated enterprise
In RMB
Un-recognized losses not
Joint venture/Associated Cumulative un-recognized Cumulative un-recognized
recognized in the Period (or net
enterprise losses losses at period-end
profit enjoyed in the Period)
Shenzhen Yongtong Xinda
916,937.25 -121,989.68 794,947.57
Inspection Equipment Co., Ltd.
(7) Unconfirmed commitment with joint venture investment concerned
Nil
(8) Intangible liability with joint venture or affiliates investment concerned
Nil
4. Major conduct joint operation
Nil
146
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
5. Structured body excluding in consolidate financial statement
Note of structured body excluding in consolidate financial statement:
Nil
6. Other
X. Risks relating to financial instruments
XI. Fair value disclosure
1. Ending fair value of the assets and liabilities measured by fair value
In RMB
Ending fair value
Item
First-order Second-order Third-order Total
I. Sustaining measured by
-- -- -- --
fair value
(I) Tradable financial
115,128,569.86 115,128,569.86
assets
1.Financial assets
measured by fair value
and with variation 115,128,569.86 115,128,569.86
reckoned into current
gains/losses
(III) Other equity
10,176,617.20 10,176,617.20
instrument investment
Total assets continuously
125,305,187.06 125,305,187.06
measured at fair value
II. Non-persistent
-- -- -- --
measured by fair value
147
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
2. Recognized basis for the market price sustaining and non-persistent measured by fair value on
first-order
3. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on second-order
4. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on third-order
The financial assets measured at fair value and whose changes are included in current gain/loss refers to the
financial products, and forecast the future cash flow at expected rate of return, the unobservable estimate is the
expected rate of return.
For other equity instrument investment, the company measured the investment cost as a reasonable estimate of the
fair value due to the operating environment, conditions and financial status of the invested enterprise(China
Pudong Development Machinery Industry Co., Ltd) has not changed significantly.
5. Adjustment information and sensitivity analysis of unobservable parameters for the fair value measure
sustaining and non-persistent on third-order
6. Sustaining items measured by fair value, as for the conversion between at all levels, reasons for
conversion and policy for conversion time point
7. Changes of valuation technique in the Period
8. Financial assets and liability not measured by fair value
9. Other
XII. Related party and related transactions
1. Parent company
Ratio of shareholding Ratio of voting right
Parent company Registration place Business nature Registered capital
on the Company on the Company
Development and
Shenzhen SDG Co., operation of real 3582.82 million Yua
Shenzhen 49.09% 49.09%
Ltd.
estate and domestic n
commerce
Explanation on parent company of the enterprise
148
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Shenzhen SDG Co., Ltd. is invested by the State-owned Assets Supervision and Administration Commission of Shenzhen Municipal
People's Government and was established on August 1, 1981. The company now holds a business license with a unified social credit
code of 91440300192194195C and a registered capital of 3582.82 million yuan.
Ultimate controller of the Company is Shenzhen Municipal People’s Government State-Owned Assets Supervision and
Administration Commission.
2. Subsidiary
Subsidiary of the Company found more in Note IX
3. Joint venture and associated enterprise
Joint Venture of the Company found more in Note IX
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in previous
period:
Joint venture/Associated enterprise Relationship
Shenzhen Xinyongtong Auto Service Co., Ltd. Associated company
Shenzhen Tellus Xinyongtong Auto Service Co., Ltd. Associated company
Shenzhen Tellus Automobile Service Chain Co., Ltd. Associated company
Shenzhen Yongtong Xinda Inspection Equipment Co., Ltd. Associated company
Shenzhen Xiandao New Material Co., Ltd. Associated company
Shenzhen Tellus Hang Investment Co., Ltd. Joint venture
4. Other related party
Other related party Relationship with the Enterprise
Shenzhen SD Petty Loan Co., Ltd. Holding subsidiary of the parent company
Shenzhen SDG Swan Industrial Co., Ltd. Holding subsidiary of the parent company
Shenzhen Machinery Equipment Imp & Exp. Company Holding subsidiary of the parent company
Shenzhen SDG Real Estate Co., Ltd Holding subsidiary of the parent company
Hong Kong Yujia Investment Co, Ltd. Holding subsidiary of the parent company
Shenzhen SDG Engineering Management Co., Ltd. Holding subsidiary of the parent company
Shenzhen Tellus Yangchun Real Estate Co., Ltd. Holding subsidiary of the parent company
Shenzhen Longgang Tellus Real Estate Co., Ltd. Holding subsidiary of the parent company
Shenzhen SDG Tellus Property Management Co., Ltd. Holding subsidiary of the parent company
Shenzhen SDG Service Co., Ltd. Jewelry Park Branch Holding subsidiary of the parent company
Starlight Jewelry Co., Ltd. Shareholders
149
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Anhui Jinzun Jewelry Co., Ltd. Shareholders
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Whether more than
Related transaction Approved transaction
Related party Current Period the transaction limit Last Period
content limit
(Y/N)
Shenzhen SDG
Engineering
Accept labor 637,620.00 504,190.40
Management Co.,
Ltd.
Shenzhen SDG
Tellus Property
Accept labor 7,001,541.81 5,816,443.82
Management Co.,
Ltd.
Shenzhen SDG
Service Co., Ltd.
Accept labor 199,490.25
Jewelry Park
Branch
Goods sold/labor service providing
In RMB
Related party Related transaction content Current Period Last Period
Shenzhen SD Petty Loan Co.,
Providing services 93,615.92 95,167.03
Ltd.
(2) Related trusteeship management/contract & entrust management/ outsourcing
Not applicable
(3) Related lease
As a lessor for the Company:
In RMB
Lease income in recognized in Lease income in recognized last
Lessee Assets type
the Period the Period
Shenzhen Zung Fu Tellus Auto House lease 1,694,444.45 2,523,809.60
150
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Service Co., Ltd.
Shenzhen Xinyongtong Auto
House lease 231,379.05 327,782.86
Service Co., Ltd.
Shenzhen Xinyongtong
Dongxiao Auto Service Co., House lease 169,714.29 240,428.57
Ltd.
Shenzhen SD Petty Loan Co.,
House lease 620,733.12 704,631.90
Ltd.
Shenzhen SDG Tellus Property
House lease 25,402.04 13,288.57
Management Co., Ltd.
Shenzhen SDG Service Co.,
House lease 897,970.47
Ltd. Jewelry Park Branch
Subtotal 3,639,643.41 3,809,941.50
As lessee:
Nil
(4) Related guarantee
As guarantor
In RMB
Whether the guarantee
Secured party Guarantee amount Guarantee start date Guarantee expiry date
has been fulfilled
Shenzhen Zung Fu Tellus
3,500,000.00 2007-04-17 No
Auto Service Co., Ltd.
As secured party
Nil
Explanation on related guarantee
The Company entered into pledge contract with Zung Fu Auto Management (Shenzhen) Co., Ltd. (hereinafter
referred to as Zung Fu Shenzhen), pursuant to which, during the period from establishment of our associate
company Shenzhen Zung Fu Tellus Auto Service Co., Ltd. (hereinafter referred to as Zung Fu Tellus) to the
expiration date of the joint venture contract between the Company and Zung Fu Shenzhen, provided that Zung Fu
Shenzhen provides borrowings to Zung Fu Tellus under entrusted loan, Zung Fu Tellus makes borrows from bank
or other financial institutions and guaranteed by Zung Fu Shenzhen, and the total borrowings shall not exceed
RMB 100 million, the Company bears 35% of the obligations arising from above borrowings according to its
shareholding proportion. It was agreed for the Company to pledge 35% equity interests held in Zung Fu Tellus to
Zung Fu Shenzhen as counter guarantee for the above borrowings.
Chengdu HezhiYuan Jewelry Co., Ltd., the related enterprise of Chengdu CaizhiYuan Jewelry Co., Ltd. which is a
151
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
shareholder of the Company’s subsidiary Sichuan Tellus Jewelry Technology Co., Ltd., and the related individual
Xiong Yungui, Chengdu Ruihang Jewelry Co., Ltd., a shareholder of Sichuan Tellus Jewelry Technology Co., Ltd.,
and the related individual Linhang, Chengdu Zhongjin Guifu Jewelry Co., Ltd., a shareholder of Sichuan Tellus
Jewelry Technology Co., Ltd., and the related individual Lin Tonggui, Chengdu Hengyue Trading Co., Ltd., a
shareholder of Sichuan Tellus Jewelry Technology Co., Ltd., and related company Chengdu Zhongcheng Shubao
Jewelry Co., Ltd. set the maximum guarantee by taking Sichuan Tellus Jewelry Technology Co., Ltd. as the
creditor, the main creditor's right of guarantee is the accounts receivable of Sichuan Tellus Jewelry Technology
Co., Ltd. to the warrantees, Lin Qin, etc., the total amount of guarantees is 41.4799 million Yuan.
(5) Related party’s borrowed funds
In RMB
Related party Borrowing amount Starting date Maturity date Note
Borrowing
Lending
Payment of property
Shenzhen Tellus Hang
256,363.88 2020-01-01 2020-12-31 rights representative
Investment Co., Ltd.
salary
(6) Related party’s assets transfer and debt reorganization
Nil
(7) Remuneration of key manager
In RMB
Item Current period Last period
Remuneration of directors, supervisors and
2,926,900 2,323,700
senior executives
(8) Other related transaction
6. Receivable and payable of related party
(1) Receivable item
In RMB
Ending balance Opening balance
Item Name Related party
Book balance Bad debt provision Book balance Bad debt provision
152
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Shenzhen
Accounts receivable Xinyongtong Auto 927,602.00 927,602.00 927,602.00 927,602.00
Service Co., Ltd.
Shenzhen
Xinyongtong
680,400.00 680,400.00 680,400.00 680,400.00
Dongxiao Auto
Service Co., Ltd.
Shenzhen SD Petty
221,227.49 2,835.84 283,583.81 2,835.84
Loan Co., Ltd.
Subtotal 1,829,229.49 1,610,837.84 1,891,585.81 1,610,837.84
Shenzhen Tellus
Other receivable Automobile Service 1,359,297.00 1,359,297.00 1,359,297.00 1,359,297.00
Chain Co., Ltd.
Shenzhen Yongtong
Xinda Inspection 531,882.24 531,882.24 531,882.24 531,882.24
Equipment Co., Ltd.
Shenzhen Xiandao
New Material Co., 660,790.09 660,790.09 660,790.09 660,790.09
Ltd.
Shenzhen Tellus
Xinyongtong Auto 114,776.33 114,776.33 114,776.33 114,776.33
Service Co., Ltd.
Shenzhen Tellus
Hang Investment 55,125.04 551.25
Co., Ltd.
Shenzhen SDG
Service Co., Ltd. 879,119.04
Jewelry Park Branch
Subtotal 3,545,864.70 2,666,745.66 2,721,870.70 2,667,296.91
Shenzhen Tellus
Long-term
Automobile Service 2,179,203.68 2,179,203.68 2,179,203.68 2,179,203.68
receivables
Chain Co., Ltd.
Subtotal 2,179,203.68 2,179,203.68 2,179,203.68 2,179,203.68
(2) Payable item
In RMB
Item Name Related party Ending book balance Opening book balance
Accounts payable Shenzhen SDG Real Estate Co., 6,054,855.46 6,054,855.46
153
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Ltd
Shenzhen Machinery
Equipment Import & Export 45,300.00 45,300.00
Corporation
Shenzhen Tellus Gman
22,360.00 200,000.00
Investment Co., Ltd
Shenzhen SDG Engineering
42,205.66
Management Co., Ltd.
Shenzhen SDG Service Co.,
36,103.11
Ltd. Jewelry Park Branch
Shenzhen SDG Tellus Property
3,372,496.27
Management Co., Ltd.
Subtotal 9,495,011.73 6,378,464.23
Hong Kong Yujia Investment
Other payable 2,158,064.96 2,172,091.54
Co, Ltd.
Shenzhen SDG Swan Industrial
20,703.25 20,703.25
Co., Ltd.
Shenzhen Machinery
Equipment Imp & Exp. 1,554,196.80 1,554,196.80
Company
Shenzhen SDG Co., Ltd. 17,448,724.94 20,378,046.74
Shenzhen Longgang Tellus
1,095,742.50 1,095,742.50
Real Estate Co., Ltd.
Shenzhen Tellus Yangchun
476,217.49 476,217.49
Real Estate Co., Ltd.
Shenzhen Tellus Hang
16,765.12
Investment Co., Ltd.
Shenzhen Yongtong Xinda
29,940.00 29,940.00
Inspection Equipment Co., Ltd.
Anhui Jinzun Jewelry Co., Ltd. 1,330,000.00 1,330,000.00
Shenzhen SDG Tellus Property
192,227.98 192,227.98
Management Co., Ltd.
Shenzhen Zung Fu Tellus Auto
833,334.00 833,334.00
Service Co., Ltd.
Shenzhen SD Petty Loan Co., 227,836.80 227,836.80
154
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Ltd.
Shenzhen SDG Service Co.,
6,598.00
Ltd. Jewelry Park Branch
Subtotal 25,390,351.84 28,310,337.10
7. Related party commitment
8. Other
XIII. Share-based payment
1. Overall situation of share-based payment
□ Applicable √Not applicable
2. Share-based payment settled by equity
□ Applicable √Not applicable
3. Share-based payment settled by cash
□ Applicable √Not applicable
4. Modification and termination of share-based payment
Nil
5. Other
XIV. Commitment or contingency
1. Important commitments
Important commitments on balance sheet date
Nil
2. Contingency
(1) Contingency on balance sheet date
Contingent liability and its financial influence formed by pending litigation or arbitration
(1) In October 2005, a lawsuit was brought before Shenzhen Luo Hu District People’s Court by the Company,
which was the recognizer of Jintian Industrial (Group) Co., Ltd. (“Jintian”) to require Jintian to redress RMB
155
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
4,081,830 (principal: RMB 3,000,000, interest: RMB 1,051,380, legal fare: RMB 25,160 and executive fare:
RMB 5,290). Shenzhen Intermediate People’s Court had adjudged that the Company won the lawsuit and the
forcible execution had been applied by the Company. As for the deducted amount in previous years, the Company
has counted as debt losses.
In April 2006, Shenzhen Development Bank brought an accusation against Jintian’s overdue loan two million U.S.
dollars and the Company who guaranteed for this loan. The company took on the principal and all interest. After
that, the Company appealed to Shenzhen Luohu District People's Court, asking Jintian to repay 2,960,490 U.S.
dollars and interest. In 2008, it reached Shen Luo No.937 Civil Reconciliation Agreement (2008) after the
mediating action taken by Shenzhen Luohu District People's Court. The agreement is as follows: If Jintian repay
2,960,490 U.S. dollars before October 31, 2008, the company will exempt all the interest. If Jintian can not settle
the amount on time, it will pay the penalty in accordance with the People's Bank of China RMB benchmark
lending rate over the same period.
Jintian Company in process of debt service for bankruptcy reorganization. On January 29, 2016, Shenzhen
Intermediate People's Court ruled that the reorganization plan of Jintian Company was completed and the
bankruptcy proceedings were terminated, Jintian Company was re-allocating to the creditors, including the
Company, according to the reorganization plan. Cash of 325,000 yuan, 427,604 A shares and 163,886 B shares of
Jintian Company should be distributed to the Company. As of the date of approval of this financial report, the
company has not received the distributed property.
After failed to communicate with Jintian Company about the cash and equity that should be allocated to our
company after Jintian Company’s bankruptcy and reorganization for more than once, the Company filed a lawsuit
to the People's Court of the Qianhai Cooperation Zone, requesting the court to order Jintian Company and its
shareholders to pay.
On January 9, 2020, the Qianhai Court held a public hearing on the case, and made the first-instance judgment on
February 13, 2020, judging that Jintian Company should pay 325,000 yuan to Tellus Group within 5 days from
the effective date of the judgment and deliver 427,604 shares of A shares and 163,886 shares of B shares of
Jintian Group (if the shares cannot be delivered, the payment can be made after converting into cash according to
the stock market price on the last day of the aforementioned performance period). Because some of the defendants
in this case cannot be served with the written judgment, and the defendants whose whereabouts are unknown
include foreign-related parties, the Qianhai Court has published a delivery announcement for the written judgment
on February 14, 2020. As of June 30, 2020, the first-instance judgment of the case has not yet taken effect.
(2) In May 2014, our subsidiary Shenzhen Automobile Industry Trading General Company (hereinafter referred to as Automobile
Industry Trading Company) was served with a summon from people’s court in Futian district, Shenzhen, pursuant to which,
Shenzhen branch of China Huarong Asset Management Co., Ltd. (“Huarong Shenzhen”) sued Auto Industrial Trading Company for
joint settlement responsibility in respect of the debt disputes between Shenzhen Guangming Watch Co., Ltd. (“Guangming Watch”)
and its creditors. Including the payment of the debt principal of 350,000.00 yuan and the debt interest during the delayed
performance period of 946,697.54 yuan, the Auto Industry and Trade Company calculated the expected litigation loss of
2,225,468.76 yuan based on the bank’s borrowing interest rate for the same period of the outstanding principal and corresponding
interest. Huarong Shenzhen Company applied to the Futian Court to withdraw the lawsuit on January 20, 2018, Futian Court issued
156
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(2014) SFFMECZ No. 4712-2 Civil Ruling Paper on January 30, 2018, allowed to withdraw.
(2) If the Company has no important contingency need to disclosed, explain reasons
The Company has no important contingency that need to disclose.
3. Other
XV. Events after balance sheet date
Not applicable
XVI. Other important events
1. Previous accounting errors collection
Nil
2. Debt restructuring
Nil
3. Assets exchange
Nil
4. Pension plan
Nil
5. Discontinuing operation
Nil
6. Segment
(1) Recognition basis and accounting policy for reportable segment
The Company determines operating (segment)divisions based on internal organizational structure, management
requirements and internal reporting system, and determines the reporting segment based on the industry segment.
Respectively assess the operating performance of automobile sales, automobile maintenance and testing, leasing
and services, and jewelry wholesale and retail. The assets and liabilities used with each segment are distributed
among the different segments in proportion to their size.
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
(2) Financial information for reportable segment
In RMB
Auto
Leasing and Wholesale and Offset between
Item Auto sales maintenance and Total
retail of jewelry segment
services
inspection
Main business
112,524,897.49 19,138,132.58 58,157,419.79 16,963,304.20 -13,727,405.66 193,056,348.40
income
Main business
109,843,052.17 16,287,281.23 25,058,304.97 16,010,373.45 -13,653,691.37 153,545,320.45
cost
-1,208,556,813.6
Total assets 67,368,569.39 22,910,066.56 2,540,076,869.66 154,256,572.67 1,576,055,264.66
2
Total liability 63,176,532.99 14,176,110.25 617,141,672.40 2,069,464.10 -464,666,340.89 231,897,438.85
(3) The Company has no segment, or unable to disclose total assets and liability of the segment, explain
reasons
(4) Other explanation
7. Other major transaction and events makes influence on investor’s decision
Nil
8. Other
XVII. Principle notes of financial statements of parent company
1. Account receivable
(1) Category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Account receivable
484,803. 484,803. 484,803.0 484,803.0
with bad debt 16.30% 100.00% 69.90% 100.00%
08 08 8 8
provision accrual on
158
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
a single basis
Including:
Account receivable
with bad debt 2,490,04 2,487,958 208,798.7
83.70% 2,087.99 0.08% 30.10% 2,087.99 1.00% 206,710.76
provision accrual on 6.10 .11 5
portfolio
Including:
2,974,84 486,891. 2,487,958 693,601.8 486,891.0
Total 100.00% 16.37% 100.00% 70.20% 206,710.76
9.18 07 .11 3 7
Bad debt provision accrual on single basis:
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
The accounts are more
Shenzhen Bijiashan than 10 years old and are
172,000.00 172,000.00 100.00%
not expected to be
Entertainment Company
recovered
The accounts are more
than 10 years old and are
Gong Yanqing 97,806.64 97,806.64 100.00%
not expected to be
recovered
The accounts are more
Guangzhou Lemin than 10 years old and are
86,940.00 86,940.00 100.00%
not expected to be
Computer Center
recovered
The accounts are more
than 10 years old and are
Other 128,056.44 128,056.44 100.00%
not expected to be
recovered
Total 484,803.08 484,803.08 -- --
Bad debt provision accrual on portfolio:
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Within one year 2,490,046.10 2,087.99 0.08%
Total 2,490,046.10 2,087.99 --
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses, please refer
to the disclosure of other account receivables to disclose related information about bad-debt provisions:
√ Applicable □Not applicable
159
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
By account age
In RMB
Account age Ending balance
Within one year (including one year) 2,490,046.10
Over 3 years 484,803.08
Over 5 years 484,803.08
Total 2,974,849.18
(2) Bad debt provision accrual, collected or reversal in the period
Not applicable
(3) Account receivable actually written-off in the period
Not applicable
(4) Top 5 account receivables at ending balance by arrears party
In RMB
Ending balance of accounts Proportion in total receivables Bad debt preparation ending
Enterprise
receivable at ending balance balance
Shenzhen Zung Fu Tellus Auto
1,911,906.35 64.27%
Service Co., Ltd.
Shenzhen Bijiashan
172,000.00 5.78% 172,000.00
Entertainment Company
Shenzhen Jincheng Yinyu
103,272.00 3.47% 1,032.72
Jewelry Co., Ltd.
Gong Yanqing 97,806.64 3.29% 97,806.64
Guangzhou Lemin Computer
86,940.00 2.92% 86,940.00
Center
Total 2,371,924.99 79.73% 357,779.36
(5) Account receivable derecognition due to financial assets transfer
Not applicable
(6) Assets and liabilities resulted by account receivable transfer and continues involvement
Not applicable
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
2. Other account receivable
In RMB
Item Ending balance Opening balance
Dividends receivable 547,184.35 547,184.35
Other account receivable 135,492,262.28 115,490,588.74
Total 136,039,446.63 116,037,773.09
(1) Interest receivable
Not applicable
(2) Dividend receivable
1) Category
In RMB
Item (or invested enterprise) Ending balance Opening balance
China Pudong Development Machinery
547,184.35 547,184.35
Industry Co., Ltd
Total 547,184.35 547,184.35
2) Important dividend receivable with account age over one year
Nil
3) Accrual of bad debt provision
□ Applicable √Not applicable
(3) Other account receivable
1) By nature
In RMB
Nature Ending book balance Opening book balance
Dividend receivable 547,184.35 547,184.35
Related transactions within the scope of
135,184,758.23 115,271,769.06
consolidation
Reserve fund 130,000.00 43,346.12
Interim payment receivable 14,408,900.22 14,406,869.73
161
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Total 150,270,842.80 130,269,169.26
2) Accrual of bad debt provision
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2020 105,742.91 14,125,653.26 14,231,396.17
Balance of Jan. 1, 2020
—— —— —— ——
in the period
Balance on Jun. 30, 2020 105,742.91 14,125,653.26 14,231,396.17
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
In RMB
Account age Ending balance
Within one year (including one year) 135,388,827.06
Over 3 years 14,334,831.39
Over 5 years 14,334,831.39
Total 149,723,658.45
3) Bad debt provision accrual, collected or reversal in the period
Not applicable
4) Other account receivable actually written-off in the period
Not applicable
5) Top 5 other receivables at ending balance by arrears party
In RMB
Ratio in total ending
Ending balance of
Enterprise Nature Ending balance Account age balance of other
bad debt reserve
account receivables
Shenzhen Zhongtian
Internal intercourse 134,366,644.53 Within one year 89.74%
Industrial Co,. Ltd.
162
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Shenzhen Zhonghao
ntercourse funds 5,000,000.00 Over 3 years 3.34% 5,000,000.00
(Group) Co., Ltd
Gold Beili Electrical
ntercourse funds 2,706,983.51 Over 3 years 1.81% 2,706,983.51
Appliances Company
Shenzhen
ntercourse funds 1,923,891.98 Over 3 years 1.28% 1,923,891.98
Petrochemical Group
Shenzhen SDG
Huatong Packaging ntercourse funds 1,212,373.79 Over 3 years 0.81% 1,212,373.79
Industry Co., Ltd.
Total -- 145,209,893.81 -- 96.98% 10,843,249.28
6) Other account receivables related to government grants
Nil
7) Other receivable for termination of confirmation due to the transfer of financial assets
Nil
8) The amount of assets and liabilities that are transferred other receivable and continued to be involved
Nil
Other explanation:
Name Ending balance
Book balance Bad debt provision Provision Reason for provision
ratio
5,000,000.00 5,000,000.00 100% The accounts are more
Shenzhen Zhonghao (Group) Co., than 10 years old and
are not expected to be
Ltd
recovered
Gold Beili Electrical Appliances 2,706,983.51 2,706,983.51 100% The accounts are more
Company than 10 years old and
are not expected to be
recovered
1,923,891.98 1,923,891.98 100% The accounts are more
than 10 years old and
Shenzhen Petrochemical Group
are not expected to be
recovered
Shenzhen SDG Huatong Packaging 1,212,373.79 1,212,373.79 100% The accounts are more
Industry Co., Ltd. than 10 years old and
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深圳市特力(集团)股份有限公司 2020 年半年度报告全文
are not expected to be
recovered
Other 3,491,582.11 3,282,403.98 94% The accounts are more
than 10 years old and
are not expected to be
recovered
Total 14,334,831.39 14,125,653.26 -- --
3. Long-term equity investment
In RMB
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for
745,996,472.73 1,956,000.00 744,040,472.73 745,996,472.73 1,956,000.00 744,040,472.73
subsidiary
Investment for
associates and 133,817,676.62 9,787,162.32 124,030,514.30 125,101,730.19 9,787,162.32 115,314,567.87
joint venture
Total 879,814,149.35 11,743,162.32 868,070,987.03 871,098,202.92 11,743,162.32 859,355,040.60
(1) Investment for subsidiary
In RMB
Opening Increase and decrease in current period Ending balance
The invested Ending balance
balance (book Additional Reduce Provision for of impairment
entity Other (book value)
value) investment investment impairment provision
Shenzhen SDG
Tellus Real 31,152,888.87 31,152,888.87
Estate Co., Ltd.
Shenzhen Tellus
Chuangying
14,000,000.00 14,000,000.00
Technology Co.,
Ltd.
Shenzhen Tellus
Xinyongtong
Automobile 57,672,885.22 57,672,885.22
Development
Co. Ltd.
Shenzhen 369,680,522.9 369,680,522.90
164
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Zhongtian 0
Industrial Co,.
Ltd.
Shenzhen Auto
Industry and 126,251,071.5
126,251,071.57
Trade 7
Corporation
Shenzhen SDG
Huari Auto
19,224,692.65 19,224,692.65
Enterprise Co.,
Ltd.
Shenzhen Huari
TOYOTA
Automobile 1,807,411.52 1,807,411.52
Sales Service
Co., Ltd.
Shenzhen
Xinyongtong
Automobile
10,000,000.00 10,000,000.00
Inspection
Equipment Co.
Ltd.
Anhui Tellus
Starlight
Jewelry 4,998,000.00 4,998,000.00
Investment Co.,
Ltd.
Sichuan Tellus
100,000,000.0
Jewelry Tech. 100,000,000.00
0
Co., Ltd.
Shenzhen Tellus
Baoku Supply
Chain 9,253,000.00 9,253,000.00
Technology Co.,
Ltd.
Shenzhen
Hanligao
Technology 0.00 1,956,000.00
Ceramics Co.,
Ltd.
Total 744,040,472.7 744,040,472.73 1,956,000.00
165
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
3
(2) Investment for associates and joint venture
In RMB
Current changes (+, -)
Ending
Other Cash
Opening Investme Accrual Ending balance
investmen Additiona comprehe dividend
balance nt gains Other of balance of
t l Capital nsive or profit
(book recognize equity impairme Other (book impairme
company investmen reduction income announce
value) d under change nt value) nt
t adjustmen d to
equity provision provision
t issued
I. Joint venture
Shenzhen
Tellus
Gman 70,155,38 4,039,637 74,195,02
Investme 3.50 .29 0.79
nt Co.,
Ltd
Shenzhen
Tellus
Hang 11,845,45 300,297.7 12,145,74
Investme 2.17 6 9.93
nt Co.,
Ltd.
82,000,83 4,339,935 86,340,77
Subtotal
5.67 .05 0.72
II. Associated enterprise
Shenzhen
Zung Fu
Tellus 33,313,73 4,376,011 37,689,74
Auto 2.20 .38 3.58
Service
Co., Ltd.
Hunan
Changyan
1,810,540
g
.70
Industrial
Co., Ltd.
Shenzhen 3,225,000
Jiecheng .00
166
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Electronic
Co., Ltd.
Shenzhen
Xiandao
4,751,621
New
.62
Materials
Co., Ltd.
33,313,73 4,376,011 37,689,74 9,787,162
Subtotal
2.20 .38 3.58 .32
115,314,5 8,715,946 124,030,5 9,787,162
Total
67.87 .43 14.30 .32
4. Operating income and operating cost
In RMB
Current period Last period
Item
Income Cost Income Cost
Main business 13,120,854.52 3,857,719.57 19,112,054.55 1,774,557.00
Total 13,120,854.52 3,857,719.57 19,112,054.55 1,774,557.00
Income related information
In RMB
Contract classification Division 1 Division 2 Total
Including: - -
Property leasing and
13,120,854.52
services
Including: - -
Shenzhen 13,120,854.52
Including: - -
Total 13,120,854.52
5. Investment income
In RMB
Item Current period Last period
Long-term equity investment income
8,400,304.32
measured by cost
Long-term equity investment income
8,715,946.43 8,376,471.67
measured by equity
167
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
Investment income of trading financial assets
2,114,272.43 3,417,993.78
during the holding period
Total 19,230,523.18 11,794,465.45
XVIII. Supplementary information
1. Current non-recurring gains/losses
√ Applicable □Not applicable
In RMB
Item Amount Note
Governmental grants calculated into current
gains and losses (while closely related with
the normal business of the Company,
52,846.70
excluding the fixed-amount or
fixed-proportion governmental subsidy
according to the unified national standard)
Except for the effective hedging business
related to the normal business of the
Company, the fair value changes from
holding the tradable financial assets,
derivative financial assets, tradable
4,003,521.31 Income from financial products
financial liability and derivative financial
liability; and investment income from
disposal of tradable financial assets,
derivative financial assets, tradable financial
liability and other creditors investment
Switch back of the impairment provision
for account receivable with impairment test 599,201.43 Switch back of bad debt provision
on single basis and contract assets
Other non-operating income and expense Income from forfeiting the lease deposit
917,047.44
other than the above mentioned ones after the tenant returns the lease in advance
Less: Impact on income tax 858,601.74
Impact on minority interests 521,850.19
Total 4,192,164.95 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √Not applicable
168
深圳市特力(集团)股份有限公司 2020 年半年度报告全文
2. ROE and earnings per share
Earnings per share
Profits during report period Weighted average ROE Diluted EPS
Basic EPS (Yuan/share)
(Yuan/share)
Net profits belong to common stock
1.99% 0.0594 0.0594
stockholders of the Company
Net profits belong to common stock
stockholders of the Company after
1.67% 0.0497 0.0497
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
Section XII. Documents Available for Reference
The Company reserved completed integrated documents for CSRC, SZSE, relevant departments and public
investor for reference, including:
1. Original Accounting Statement of Semi-Annual 2020 carrying the signatures and seals of the legal
representative, general manager, CFO and manager of Financial Department;
2. All original documents and notifications of the Company disclosed in newspapers that designated by CSRC in
report period;
3. Semi-Annual report disclosed in securities market.
169
