山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
SEMI-ANNUAL REPORT 2013
July 2013
1
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Section I. Important Notice, Contents and Paraphrase
Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of Shandong Zhonglu Oceanic Fisheries Co., Ltd. (hereinafter
referred to as the Company) hereby confirm that there are no any fictitious
statements, misleading statements, or important omissions carried in this report,
and shall take all responsibilities, individual and/or joint, for the reality,
accuracy and completion of the whole contents.
All directors are attended the Board Meeting for report deliberation.
The Company has no plans of cash dividend distributed, no bonus shares and
has no share converted from capital reserve either.
Li Wenyi, principal of the Company, Zhang Weiping, person in charger of
accounting works and Lei Lixin, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of Semi-Annual
Report 2013 is authentic, accurate and complete.
Concerning the forward-looking statements with future planning involved in the
Semi-Report, they do not constitute a substantial commitment for investors.
Investors are advised to exercise caution of investment risks.
2
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Content
Section I Important Notice, Contents and Paraphrase .................................................. 2
Section II Company Profile........................................................................................... 5
Section III Accounting data and summary of finnaical indexes ................................... 7
Section IV Report of the Board of Directors................................................................. 9
Section V Important Events......................................................................................... 16
Section VI Changes in shares and particular about shareholders ............................... 20
Section VII Directors, Supervisors and Senior Executives ....................................... 23
Section VIII Financial Report ..................................................................................... 21
Section IX Documents Available for Reference ...................................................... 110
3
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Paraphrase
Items Refers to Definition
“Zhonglu Company”, “The Company”
Refers to Shandong Zhonglu Oceanic Fisheries Company Limited
or “Company”
“State-owned Assets Investment” Refers to Shandong State-owned Assets Investment Holding Company Limited
"“Luxin Group” Refers to Luxin Investment Holding Company Limited
“Fisheries Enterprise” Refers to Shandong Group Corp. of Fisheries Enterprises
State-owned Assets Supervision and Administration Commission of
“SASAP” Refers to
Shandong Provincial Government
State-owned Assets Supervision and Administration Commission of the
“SASAC” Refers to
State Council
“CSRC” Refers to China Securities Regulatory Commission
“Shandong SRB” Refers to CSRC, Shandong Securities Regulatory Bureau
“The report” Refers to Semi-Annual Report for 2013 compiled by the Company
4
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Section II Company profile
I. Company Profile
Short form for share Zhonglu B Code for share 200992
Listing stock exchange Shenzhen Stock Exchange
Chinese name of the Company 山东省中鲁远洋渔业股份有限公司
Abbr. of Chinese name of the
中鲁远洋
Company(if applicable)
English name of the
Shandong Zhonglu Oceanic Fisheries Company Limited
Company(if applicable)
Abbr. of English name of the
zlyy
Company(if applicable)
Legal Representative Li Wenyi
II. Contact person and ways
Secretary of the Board Rep. of securities affairs
Name Zhou Feng Li Ying; Li Feng
No.43 Heping Rd, Jinan City, Shangdong No.43 Heping Rd, Jinan City, Shangdong
Contact adds.
Province Province
Tel. 0531-86553278 0531-86553276
Fax. 0531-86982906 0531-86982906
E-mail zlzqb@163.com zlzqb@163.com
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found more details in Annual Report 2012.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
5
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
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 2012.
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of taxation registration and
organization code have no change in reporting period, found more details in Annual Report 2012.
4. Other relevant information
Whether other relevant information has changed in reporting period or not
□ Applicable √ Not applicable
6
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
Increase/decrease in this
Current period Same period of last year
report y-o-y (%)
Operating revenue (RMB) 264,728,360.22 250,900,094.03 5.51%
Net profit attributable to shareholders of
23,102,972.94 26,409,180.75 -12.52%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 21,965,338.55 34,610,915.52 -36.54%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-20,915,097.21 42,161,318.81 -149.61%
activities(RMB)
Basic earnings per share (RMB/Share) 0.09 0.1 -10%
Diluted earnings per share (RMB/Share) 0.09 0.1 -10%
Weighted average ROE (%) 4.73% 5.87% -1.14%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end (%)
Total assets (RMB) 700,683,103.00 646,521,696.71 8.38%
Net assets attributable to shareholder of
500,551,998.76 476,824,979.57 4.98%
listed company(RMB)
II. Items and amounts of extraordinary profit (gains)/loss
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
1,091,226.17
write-off that accrued for impairment of assets)
Other non-operating income and expenditure except for the
46,408.22
aforementioned items
Total 1,137,634.39 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
7
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
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
8
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Section IV. Report of the Board of Directors
I. Introduction
In the light of annual primary mission of “continues to remain stable development, seize opportunity proactively
and development promotion” and around the “catch production, strengthen management and promoting stability”
as work center, the Company reinforce production operation, conscientiously implement the safety management,
consolidate internal control and push for implementation of main investment/financing projects with more efforts
in order to accelerate the optimization of structure adjustment. Actively implement the strategy of “talents to make
enterprises strong”, gradually enhance core competiveness of the Company, which contribute to achieve a good
result in aspect of annual operation target and the sustainable and healthy development for the Company.
Operation revenue achieved RMB 264.7284 million in this period, a 5.51% up compare with same period of last
year. Operation cost amounted as RMB 219.7414 million with 0.40% growth over same period the year before.
Net profit attributable to parent company in this period realized RMB 23.103 million, a 12.52% down compare
with same period of last year and the fishing production yield to 6,484.84 tons in this period.
II. Main business analysis
Operation revenue earns a 5.51% over same period of last year, which mainly because production and sales show
a sharp increase after the purse seine production recover. However, due to major down in the price of ultralow
temperature tuna, the inventory growth and the sales decreased, than overall revenue of the Company has
increased slightly. Period charge shows a decrease of 15.36% compare with same period of last year, among
which sales expenses increased 13% mainly due to the increase of freight and miscellaneous charges and
travelling expenses generate from fish boat discharge after reach port. Administrative expenses have a 16.99%
down mainly because the performance pay and public accumulation funds for employees decreased. Financial
cost decrease 60.09%, mainly because the return of interest income for equity transfer of Qingdao Double Whale
Company increased. Income tax expense has a 95.74% down compare with same period of last year, which
mainly because according to the regulation of enterprise income tax law, the primary processing of agricultural
products are exempted from enterprise income tax in advance. Net cash flow arising from operation activities has
149.61% down compare with same period of last year, which mainly because no fuel subsidy received in this
period and part of the sales have not return yet. Net cash flow arising from investment activities increase 121.27%
over same period of last year, which mainly because the insurance indemnity for Taifu 102 has been received. Net
cash flow arising from financing activities increase 11.24% over same period of last year mainly because more
bank loans occurred in the Period. The net profit attributable to parent company of the Company achieved RMB
23.103 million in this period, a 12.52% down compare with same period of last year, which mainly because the
price of longline tuna drop dramatically, the net realizable value for stock fish was lower than the cost, Allotted
provision for inventory preparation.
Y-o-y changes of main financial data
In RMB
Y-o-y increase/decrease
Current period Same period of last year Reasons for changes
(%)
9
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Operation revenue 264,728,360.22 250,900,094.03 5.51%
Operation cost 219,741,407.16 218,874,259.05 0.4%
Sales expenses 2,162,304.33 1,913,459.71 13%
Administrative expenses 13,721,691.25 16,530,420.03 -16.99%
The return of interest
income for equity
Financial cost 244,394.62 612,320.50 -60.09% transfer of Qingdao
Double Whale Company
was increased
The primary processing
of agricultural products
Income tax expense 28,100.00 660,166.07 -95.74% are exempted from
enterprise income tax in
advance
No fuel subsidy received
Net cash flow arising in this period and part of
-20,915,097.21 42,161,318.81 -149.61%
from operation activities the sales have not return
yet
Net cash flow arising The insurance indemnity
from investment 9,392,667.50 -44,167,850.71 121.27% for Taifu 102 has been
activities received
Net cash flow arising
32,716,152.93 29,409,272.97 11.24%
from financing activities
Net increase of cash and
20,966,388.76 27,429,901.32 -23.56%
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
The future development and planning extended to reporting period that published in disclosure documents as prospectus, private
placing memorandum and recapitalize statement
□ Applicable √ Not applicable
No future development and planning extended to reporting period that published in disclosure documents as prospectus, private
placing memorandum and recapitalize statement
Review on the previous business plan and its progress during reporting period
The main construction of Phase III project of Zhonglu (Yantai) Food Co., Ltd. was completed currently, and the
project still in last stage of construction; accomplish follow-up investment of RMB 7,515,820.00 in this period.
10
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
III. Constitution of main business
In RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Operating Gross profit ratio
Operating cost operating revenue operating cost profit ratio over
revenue (%)
over same period over same period same period of
of last year (%) of last year (%) last year (%)
According to industries
Pelagic fishery
74,020,865.36 51,153,852.24 30.89% -6.86% -23.65% 15.2%
and reprocess
Management and
rent of
refrigerated 39,743,558.52 30,632,659.79 22.92% 17.27% 18.67% -0.91%
transportation
ships
Aquatic product
process, freeze, 147,224,452.49 137,175,578.42 6.83% 9.68% 9.64% 0.04%
etc
According to products
Tuna 74,020,865.36 51,153,852.24 30.89% -6.86% -23.65% 15.2%
Ship Rental 39,743,558.52 30,632,659.79 22.92% 17.27% 18.67% -0.91%
Aquatic product
process and cold 147,224,452.49 137,175,578.42 6.83% 9.68% 9.64% 0.04%
storage
According to region
Mainland China 70,125,569.27 61,224,936.88 12.69% 53.92% 82.66% -13.74%
Taiwan China 73,341,550.52 48,151,686.19 34.35% 48.5% 26.47% 11.43%
H.K. China 11,581,030.32 10,801,572.70 6.73%
Japan 75,549,131.86 70,464,321.21 6.73% -26.14% -28.39% 2.93%
Singapore 7,679,886.56 7,162,994.20 6.73% -56% -57.22% 2.66%
Ghana 5,922,454.23 5,497,321.11 7.18% -9.4% -7.18% -2.22%
South Korea 16,789,253.61 15,659,258.16 6.73% -36.3% -38.04% 2.62%
IV. Core competitive-ness analysis
The world economic situation is intricate and complex since year of 2013, emerging economies growth slowing
including China. In regards to the external environment, the influence of global financial crisis presents to be
permanent and intensification. The economic upswings is underpowered and trade protectionism beginning to
show; from the view of internal environment, the slumping domestic demand as well as the cost pressure, which
was increased every year, cause negative effect for the enterprise’s operation. At the same time, global monetary
11
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
remain easing, due to the quantitative easing policy adoption to cope with debt problems from Unite States and
Japanese etc., the Renminbi force to appreciated, therefore, major influence on price fluctuation in China emerged.
As a pelagic fishery with export-oriented comes increasingly prominent, and strongly depend on Japanese market
particularly, domestic enterprise of distant-water fishery suffer a rough adjustment period, effected by economic
situation in first half year in particular.
According to the above situation, leadership of the Company actively take actions, adhere to the core of
ocean-going fishing, assisted by ocean shipping and food process trading, take more efforts to enlarge the fleet,
create new way of operation with purpose of improving the ability in aspect of fishing, transportation and food
processing. Operation measures for development of the Company since first half year are as follow:
(1) Enlarge the fleet, enhance operational capability. Fishing operation is a crucial support for the operation and
soaring benefits of the Company. As for the operation layout, the Company persists in oceanic purse seine and
production of long liner fishing as center, assisted by distant water trawl fishing, optimized resource allocation
and continues to strengthen the establishment of fishing ability of deep-sea fishing. Currently, the Company owns
15 long liner and purse seiner in total. Among which, 8 tuna long liners, completed in second half year of 2012,
and 2 tuna purse seiner purchased have put into operation successfully with favorable earnings achieved. Also,
two sets of great tuna purse seiner, which invested RMB 53 million only in total, maintains a strong growth after
resume production since November the year before. Furthermore, yielding 7107 tons in more than half year with
output value of RMB 55.18 million; profit amount approximately as RMB 26.65 million with profit margin up to
48%. In addition, the huge ultralow temperature long liner, introduced this year from Japan, is in renovation in
Zhoushan Harbor. And the long liner expect to put into production in August after dock repair and naturalization
completed, at that time, the fleet of the Company as oceanic tuna purse seiner and long liner comes to 16.
(2) Deepen resources integration,diversified operation scale. On 27 August 2012, the Shandong Zhonglu Haiyan
Oceanic Co., Ltd., which is in charge of the operation, management and maintenance of the long liner and purse
seiner for the Company, was established jointly by the Company and Shandong State-owned Assets Investment
Holdings Co., Ltd. with capital of RMB 54 million. During the reporting period, the Company, Shandong
State-owned Assets Investment Holdings Co., Ltd. and Shandong Luxin Group reached an agreement for jointly
investment of RMB 423 million for expanding share capital of Zhonglu Haiyan, and plan to implement fishery
cooperation with riparian state and relevant fisheries organization. The cooperation will enhance the fishing
capacity of the Company greatly, and also undoubtedly, plays an important role in improving benefits of the
Company as well as consolidating the status in field of tuna in the world.
(3) Developed comprehensively, steadily improve benefits. While persevere in high sea fishing as main business,
the Company make further improvement on the development of indirect activities, such as refrigerated transport
and foods process etc. In terms of refrigerated transport, while persist in past good measures, the Company make a
step forward in reforming the way of operation and management, improving relationship between the transport
ship and client enterprises, and provided a comprehensive and warm service to clients. Maintained equipment
regularly to ensure high-efficiency operation for all equipments, combat extravagance and waste as well as avoid
water leakage. In aspect of food processing, increasing investment for “Chinese Tuna Trading Center”, locates in
Yantai, Shandong, improving the production and processing equipment. Currently, the hardware engineering of
Phase III is nearing completion, and comes in the final stage. The projects will put into operation as a brand new
industry development service platform after relevant system debugging completed with its perfected and regulated
functions optimize and efficiency service as well as accurate and authoritative information.
Zhonglu stands in a period of fast-improvement and in the best growing trend currently. Operation benefits of the
Company improved steadily, management standards upgrade constantly and the enterprise getting more and
12
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
stronger apparently along with the obvious strengthen in aspect of corporate image and social influence. The
Company continue to implement the operation idea of “one core with two wings” for purpose of laying a solid
foundation for further development of the Company, that is core with high sea fishing and assisted by refrigerated
transport and process trading.
V. Investment analysis
1. Main subsidiaries and joint-stock companies analysis
Main subsidiaries and joint-stock companies
In RMB
Main
Industry Registered Operation Operation
Name Type products or Total assets Net assets Net profit
involved capital revenue profit
service
Internationa
l ocean
Shandong
Cold shipping,
Zhonglu
storage, accept for 22,505,600. 41,746,565. 14,712,794.
Fishery Subsidiary 671,888.89 381,043.44 411,343.44
transportati carriage of 00 18 50
Shipping
on frozen
Co., Ltd.
aquatic
products
Self-support
Habitat
ing business
Internationa Refrigerated 12,476,146. 133,780,370 130,368,812 25,030,764. 5,944,309.8 5,944,309.8
Subsidiary of
l transport 00 .92 .77 02 0 0
refrigerated
Corporation
transport
Freeze, cold
storage,
process and
Shandong sales of
Zhonglu aquatic
Oceanic Food products, 75,593,300. 170,262,747 104,180,422 148,203,763 5,142,695.6 4,771,262.1
Subsidiary
(Yantai) processing animal 00 .82 .66 .97 3 0
Foods Co., products
Ltd. and fruits
and
vegetables
etc.
Shandong Offshore
Zhonglu Ocean fishing, 54,000,000. 53,962,970. 53,962,970.
Subsidiary 0.00 -37,029.99 -37,029.99
Haiyan fishery ocean-going 00 01 01
Oceanic fishing
13
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Co., Ltd.
2. Major project invested by non-raised funds
In ten thousand Yuan
Amount invested
Total investment Amount invested in
Project accumulative till end Progress Earnings
planned this period
of reporting period
VI. Prediction of business performance from January – September 2013
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
VII. Explanation from the Board and Supervisory Committee for “Qualified Opinion” from
the CPA of this year’s
Not applicable
VIII. Explanation from the Board for “Qualified Opinion” of last year’s
Not applicable
IX. Implementation of profit distribution in reporting period
Implementation or adjustment of profit distribution plan in reporting period, cash dividend plan and shares converted from capital
reserve in particular
□Applicable √Not applicable
The Company has no profit distribution and shares converted from capital reserve either, which was deliberated and approved in
annual shareholders’ general meeting of 2012
X. In the report period, reception of research, communication and interview
Contents discussed and
Time Place Way Type Reception
material provided
Operation status of the
Telephone
2013-01-24 Jinan Individuals Individual investor Company and with no
communication
materials provided
Operation status of the
2013-02-22 Jinan Telephone Individuals Individual investor
Company and with no
14
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
communication materials provided
Operation status of the
Telephone
2013-03-12 Jinan Individuals Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2013-04-18 Jinan Individuals Individual investor Company and with no
communication
materials provided
15
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Section V. Iimportant Events
I. Corporate governance
In reporting period, by strictly followed requirement of relevant laws and regulations as well as relevant
normative documents of “Company Law”, “Securities Laws”, “Rules of Corporate Governance for Listed
Company” and “Rules of Stock Listing in Shenzhen Stock Exchange” etc., the Company constantly perfected its
corporate governance structure, established and improved the internal control and controlling system, continue to
deepen the corporate governance activities in order to enhance standard of regulate operation. The Company
considers that: in reporting period, actual corporate governance of the Company shows no difference with the
Company Law and requirement of relevant regulations from CSRC.
II. Significant lawsuits and arbitrations of the Company
□Applicable √Not applicable
The Company has no significant lawsuits and arbitrations in reporting period
III. Question from media
□ Applicable √ Not applicable
No universal questioned by media in reporting period
IV. Bankruptcy reorganization
In reporting period, the Company has no bankruptcy reorganization occurred.
V. Transaction in assets
1. Acquisition of assets
Ratio of
the profit Relationsh
Whethe
Counterp Trading contribut ip with
Assets Impact on Impact on ra
arty or price (in ed to counterpar Disclosure
acquired Progress operation of the gains/losses of related Disclosure
ultimate 10 listed ty (apply date (Note
or (Note 2) Company (Note the Company transact index
controlli thousand company to related 5)
replaced 3) (Note 4) ion or
ng party Yuan) in total transaction
not
net profit )
(%)
2. Assets sold
Counter Assets Date for Trading Net Impact Ratio of Pricing Whether Relation Whether Whether Disclos Disclos
16
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
party sold sales price (in profit on the the principl a related ship ownersh the ure date ure
10 contribu Compan profit e transacti with ip of the debts index
thousan ted to y (Note contribu on or counter assets and
d Yuan) listed 3) ted to not party have liability
compan listed (apply been have
y from compan to transfer been
period-b y in related totally transfer
egin to total net transacti or not totally
date for profit on) or not
sale (in (%)
10
thousan
d Yuan)
3. Enterprise mergers
VI. Insignificant related transactions
Other insignificant related transactions
On 28 June 2013, the proposal of Increasing Capital and Shares for Shandong Zhonglu Haiyan Oceanic Fisheries Company Limited
and Implemented 2 New Purse Seine Ship for Fisheries Cooperation Project was deliberated and approved in Annual Shareholders’
General Meeting of 2012.
In order to seek the sustainable and healthy development of tuna industry and solve the bottleneck of capitals needs in investment
projects, the company united controlling shareholder Shandong State-owned Assets Investment Holding Company Limited and
shareholder Luxin Investment Holding Company Limited to implement capital increase and share expansion for Shandong Zhonglu
Haiyan Oceanic Fisheries Company Limited (hereinafter referred to as “Zhonglu Haiyan”) which the company belongs to. This
project plans to raise RMB 424,750,000 funds by capital increase and share expansion, in which State-owned Assets Investment
Company invested RMB 124,000,000 in cash, Luxin Group invested RMB 160, 000, 000 in cash, the company invested RMB
140,750,000 for producing and operating in ships and related physical assets, insufficient part was made up with cash. It was
predicted that the Company holds 35.35% equity of Zhonglu Haiyan after capital increase, which was still the first big shareholder of
Zhonglu Haiyan; Luxin Group holds 33.42%; SDIC company holds 31.33%. Investment projects that the transactions involved need
to be audited by competent department of every related party, the actual investment ratio will be adjusted according to specific
investment situation. This transaction made up the related transaction, but not made up the material assets reorganization that ruled
by Administration Measures of Material Assets Reorganization for Listed Companies.
Website for temporary disclosure of the significant related transaction
Announcement Date of disclosure Website for disclosure
Suggestive announcement on related
2013-06-15 http//www.cninfo.com.cn
transactions
Announcement of related transactions 2013-06-18 http//www.cninfo.com.cn
Resolution Notice of Annual Shareholders’
2013-06-29 http//www.cninfo.com.cn
General Meeting of 2012
17
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
VII. Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□ Yes √ No
VIII. Explanation on other significant events
Name The Press for disclosure Dated of disclosed Internet website and retrieval path
for disclosed information
Resolution Notice of 17th Hong Kong Commercial 2013-01-15 http//www.cninfo.com.cn
Daily
Meeting of 4th Session of the
China Securities Journal
Board
Announcement on Progressing of Hong Kong Commercial 2013-03-09 http//www.cninfo.com.cn
Daily
Significant Issues
China Securities Journal
th
Resolution Notice of 18 Hong Kong Commercial 2013-03-13 http//www.cninfo.com.cn
th Daily
Meeting of 4 Session of the
China Securities Journal
Board
Summary of Annual Report for Hong Kong Commercial 2013-03-13 http//www.cninfo.com.cn
Daily
year of 2012
China Securities Journal
th
Resolution Notice of 12 Meeting Hong Kong Commercial 2013-03-13 http//www.cninfo.com.cn
Daily
of 4th Session of Supervisory
China Securities Journal
Committee
Notice of Guarantee for Hong Kong Commercial 2013-03-13 http//www.cninfo.com.cn
Daily
Controlling Subsidiary
China Securities Journal
Notice of Guarantee Terminated Hong Kong Commercial 2013-04-15 http//www.cninfo.com.cn
Daily
Outside
China Securities Journal
Text of First Quarterly Report for Hong Kong Commercial 2013-04-27 http//www.cninfo.com.cn
Daily
yare of 2013
China Securities Journal
th
Resolution Notice of 20 Hong Kong Commercial 2013-06-06 http//www.cninfo.com.cn
th Daily
Meeting of 4 Session of the
China Securities Journal
Board
Resolution Notice of 14th Meeting Hong Kong Commercial 2013-06-06 http//www.cninfo.com.cn
Daily
of 4th Session of Supervisory
China Securities Journal
Committee
Notification of Annual Hong Kong Commercial 2013-06-06 http//www.cninfo.com.cn
Daily
Shareholders’ General Meeting of
China Securities Journal
2012
Suggestive Notice of Related Hong Kong Commercial 2013-06-15 http//www.cninfo.com.cn
Daily
Transaction
China Securities Journal
Increase Temporary Proposal in Hong Kong Commercial 2013-06-18 http//www.cninfo.com.cn
Daily
annual Shareholders’ General
18
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Meeting of 2012 and Opening China Securities Journal
Internet Voting
Notification of Annual Hong Kong Commercial 2013-06-18 http//www.cninfo.com.cn
Daily
Shareholders’ General Meeting of
China Securities Journal
2012(after proposal increased)
Notice of Related Transaction Hong Kong Commercial 2013-06-18 http//www.cninfo.com.cn
Daily
China Securities Journal
Notification of Revising Hong Kong Commercial 2013-06-19 http//www.cninfo.com.cn
Daily
Shareholders’ General Meeting
China Securities Journal
Suggestive Notice of Holding Hong Kong Commercial 2013-06-21 http//www.cninfo.com.cn
Daily
Annual Shareholders’ General
China Securities Journal
Meeting of 2012
Resolution of Annual Hong Kong Commercial 2013-06-29 http//www.cninfo.com.cn
Daily
Shareholders’ General Meeting of
China Securities Journal
2012
Resolution Notice of 1st Hong Kong Commercial 2013-06-29 http//www.cninfo.com.cn
th Daily
Meeting of 5 Session of the
China Securities Journal
Board
Resolution Notice of 1st Meeting Hong Kong Commercial 2013-06-29 http//www.cninfo.com.cn
Daily
of 5th Session of Supervisory
China Securities Journal
Committee
19
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Number of shares and shares held
In Share
Total shareholders at period-end 14,458
Shareholders with over 5% shares held
Amount Amount Number of share pledged/frozen
Number
of of
of Changes
holding holding
Nature of Proportion of shares in
Shareholders unlisted listed
shareholder shares held (%) held at reportin State of share Amount
circulati circulati
period-e g period
on on
nd
shares shares
Shandong
State-owned
State-owned 88,000, 88,000,
Assets 33.07%
corporate 000 000
Investment
Holding Co., Ltd
Shandong Luxin
Investment State-owned 37,731, 37,731,
14.18%
Holding Group corporate 320 320
Co., Ltd
GUOTAI
JUNAN
Overseas 13,621, 13,621,
SECURITIES(H 5.12%
corporate 592 592
ONGKONG)
LIMITED
Overseas natural 5,760,4 5,760,4
Chen Tianming 2.16%
person 27 27
Shanghai HK
Overseas 2,851,3 2,851,3
Wanguo 1.07%
corporate 00 00
securities
China National
Heavy Duty State-owned 1,950,0 1,950,0
0.73%
Truck Group corporate 00 00
Jinan Truck LLC.
Overseas natural 1,531,8 1,531,8
Wang Dongsheng 0.58%
person 10 10
Yi Ying Overseas natural 0.41% 1,078,2 1,078,2
20
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
person 00 00
Overseas natural 1,066,3 1,066,3
Zhu Guanhong 0.4% -726257
person 25 25
Overseas natural 1,048,6 1,048,6
Huang Jiayi 0.39% +95000
person 87 87
Strategy investors or general
corporate becomes top 10
Not applicable
shareholders due to rights issued (if
applicable)(Note 3)
Shandong State-owned Assets Investment Holding Co., Ltd and Shandong Luxin Investment
Explanation on associated Holding Group Co., Ltd are provincial state owned enterprises under the same stock controlling of
relationship among the aforesaid Shangdong Provincial Commission, the shareholders just mentioned have no associated
shareholders relationships or belong to consistent actors regulated by the Management Regulation of
Information Disclosure on Change of Shareholding for Listed Companies.
Particulars about the shares held by the top ten unrestricted shareholders
Type of shares
Shareholders Amount of circulated shares held at period-end
Type Amount
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 13,621,592 listed foreign 13,621,592
LIMITED shares
Domestically
Chen Tianming 5,760,427 listed foreign 5,760,427
shares
Domestically
Shanghai HK Wanguo securities 2,851,300 listed foreign 2,851,300
shares
Domestically
Wang Dongsheng 1,531,810 listed foreign 1,531,810
shares
Domestically
Yi Ying 1,078,200 listed foreign 1,078,200
shares
Domestically
Zhu Guanhong 1,066,325 listed foreign 1,066,325
shares
Domestically
Huang Jiayi 1,048,687 listed foreign 1,048,687
shares
WANXIANG INTERNATIONAL Domestically
910,000 910,000
INVESTMENT CORPORATION listed foreign
21
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
shares
Domestically
Lin Mingyu 804,800 listed foreign 804,800
shares
Domestically
Taifook Securities Company
572,600 listed foreign 572,600
Limited-Account Client
shares
Expiation on associated relationship
It is unknown whether the shareholders just mentioned belong to consistent actors or have
or consistent actors within the top 10
associated relationship or regulated by the Management Regulation of Information Disclosure
un-restrict shareholders and between
on Change of Shareholding for Listed Companies.
top 10 un-restrict shareholders and
top 10 shareholders
Explanation on shareholders
involving margin business (if Not applicable
applicable)(note 4)
Whether has a buy-back agreement dealing in reporting period
□Yes √No
II. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period
□ Applicable √ Not applicable
22
山东省中鲁远洋渔业股份有限公司 2013 半年度报告全文
Section VII. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior executives have no changes in reporting period, found more details in Annual Report
2012.
II. Resignation and dismissal of directors, supervisors and senior executives
Name Title Type Date Reason
Mr. Liu Zhihui had been elected as the Company’s
Appointment and supervisors of 5th Session of Supervisory Committee in
Liu Zhihui Supervisor 2013-06-28
removal Annual Shareholders’ General Meeting of 2012 held on
June 28th, 2013
Leave the post
Zhou Tianxiang Director while office 2013-06-28 Terms of office expired
terms expired
Leave the post
Chi Mingjie Director while office 2013-06-28 Terms of office expired
terms expired
Leave the post
Chi Weizhen Director while office 2013-06-28 Terms of office expired
terms expired
Leave the post
Independent
Xu Haifeng while office 2013-06-28 Terms of office expired
director
terms expired
Leave the post
Huang Li Supervisor while office 2013-06-28 Terms of office expired
terms expired
Leave the post
Employee
Chi Ming while office 2013-06-28 Terms of office expired
supervisor
terms expired
Leave the post
Employee
Song Jinghai while office 2013-06-28 Terms of office expired
supervisor
terms expired
23
Section VIII. 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
Units in Notes of Financial Statements is RMB
1. Consolidated balance sheet
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 49,253,990.22 28,287,601.46
Settlement funds
Lending funds
Tradable financial assets
Notes receivable
Accounts receivable 22,900,642.37 15,811,863.58
Prepayments 13,780,418.36 11,804,226.51
Premium receivable
Reinsurance accounts receivable
Reinsurance contract reserve
receivable
Interest receivable
Dividend receivable
Other account receivable 9,884,257.74 7,720,735.92
Buying back the sale of financial
assets
Inventory 171,898,314.25 128,159,413.67
Non-current assets due within one
24
year
Other current assets
Total current assets 267,717,622.94 191,783,841.14
Non-current assets:
Issuance of loans and advances
Financial assets available for Sale
Held-to-maturity investment
Long-term receivables
Long term equity investment 1,311,900.00
Investment real estate 36,603,721.50 37,213,054.26
Fixed asset 366,561,836.40 374,748,119.53
Project in progress 22,428,431.90 1,454,373.00
Project materials
Liquidation of fixed asset 32,504,063.30
Productive biological asset
Oil and gas asset
Intangible asset 7,084,027.26 7,218,882.48
Development expenditure
Goodwill
Long-term deferred expenditure 81,778.00 81,778.00
Deferred income tax asset 205,685.00 205,685.00
Other non-current asset
Total non-current asset 432,965,480.06 454,737,855.57
Total Assets 700,683,103.00 646,521,696.71
Current Liabilities:
Short-term borrowing 34,101,962.54 32,676,887.96
Borrowing from the central bank
Deposits and interbank deposit
Borrowed capital
Transaction financial liabilities
Notes payable
Accounts payable 66,073,532.00 44,088,346.18
Account received in advance 4,601,070.45 2,423,905.95
Financial assets sold for
repurchase
25
Fees and commissions payable
Salary payable 11,474,431.95 11,440,281.72
Taxes payable -9,730,452.76 -9,247,959.85
Interest payable 101,386.50
Dividend payable 459,329.80 459,329.80
Other payables 11,324,673.11 24,538,951.79
Reinsurance payables
Reserves for insurance contracts
Agency securities trading
Agency securities underwriting
Non-current liabilities due within
7,697,777.78 7,697,777.78
one year
Other current liabilities
Total current liabilities 126,002,324.87 114,178,907.83
Non-current liabilities
Long-term loans 34,542,222.22 26,942,222.22
Bonds payable
Long-term payables
Special payables
Accrued liabilities
Deferred income tax liability
Other non-current liability 13,600,000.00 28,571,200.00
Total non-current liability 48,142,222.22 55,513,422.22
Total liability 174,144,547.09 169,692,330.05
Owners’ equity (or Shareholder’s
equity):
Paid-in capital(share capital) 266,071,320.00 266,071,320.00
Capital surplus 281,245,215.96 281,245,215.96
Less: treasury stock
Special reserve
Surplus reserve 21,908,064.19 21,908,064.19
Reserve for general risks
Retained profit -70,310,789.06 -93,413,762.00
Converted difference in foreign
1,638,187.67 1,014,141.42
currency Statements
26
Total owner’s equity attributable to
500,551,998.76 476,824,979.57
parent company
Interest of minority shareholders 25,986,557.15 4,387.09
Total owners’ equity (or shareholders
526,538,555.91 476,829,366.66
equity)
Total liabilities and owners’ equity (or
700,683,103.00 646,521,696.71
shareholders equity)
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
2. Balance Sheet of Parent Company
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
In RMB
Item Closing balance Opening balance
Current assets:
Monetary fund 26,592,324.84 16,467,806.39
Tradable financial assets
Notes receivable
Accounts receivable 12,359,927.63 18,850,657.57
Prepayments 7,509,543.22 11,036,487.37
Interest receivable
Dividend receivable
Other account receivable 35,882,793.57 36,294,347.03
Inventory 105,380,170.71 73,334,822.89
Non-current assets due within one
year
Other current assets
Total current assets 187,724,759.97 155,984,121.25
Non-current assets:
Financial assets available for Sale
Held-to-maturity investment
Long-term receivables 6,246,572.98 5,800,810.98
Long term equity investment 118,793,844.22 92,105,744.22
27
Investment real estate 36,603,721.50 37,213,054.26
Fixed assets 178,052,674.25 185,141,889.75
Project in progress 13,458,238.90
Project materials
Liquidation of fixed assets 32,504,063.30
Productive biological asset
Oil and gas asset
Intangible assets 15,143.18 31,789.88
Development expenditure
Goodwill
Long-term deferred expenditure
Deferred income tax asset
Other non-current assets
Total non-current assets 353,170,195.03 352,797,352.39
Total assets 540,894,955.00 508,781,473.64
Current liabilities:
Short-term borrowing 20,000,000.00 20,000,000.00
Transaction financial liabilities
Notes payable
Accounts payable 32,242,065.64 22,811,123.30
Account received in advance 4,601,070.45 2,040,339.09
Salary payable 7,093,320.00 6,834,652.55
Taxes payable 600,347.65 144,914.76
Interest payable 101,386.50
Dividend payable 459,329.80 459,329.80
Others payables 44,927,635.37 28,369,884.43
Non-current liabilities due within
7,697,777.78 7,697,777.78
one year
Other current liabilities
Total current liabilities 117,621,546.69 88,459,408.21
Non- current liabilities:
Long-term loans 34,542,222.22 26,942,222.22
Bonds payable
Long-term payables
28
Special payables
Accrued liabilities
Deferred income tax liability
Other non-current liability 21,771,200.00
Total non-current liability 34,542,222.22 48,713,422.22
Total liabilities 152,163,768.91 137,172,830.43
Owners’ equity (or Shareholder’s
equity):
Paid-in capital(share capital) 266,071,320.00 266,071,320.00
Capital surplus 279,130,089.16 279,130,089.16
Less: treasury stock
Special reserve
Surplus reserve 19,184,672.34 19,184,672.34
Reserve for general risks
Retained profit -175,654,895.41 -192,777,438.29
Converted difference in foreign
currency
Total owners’ equity (or shareholders
388,731,186.09 371,608,643.21
equity)
Total liabilities and owners’ equity (or
540,894,955.00 508,781,473.64
shareholders equity)
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
3. Consolidated Income Statements
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
In RMB
Item Current Amount Amount of the Previous Period
I. Total operation revenue 264,728,360.22 250,900,094.03
Including: Operating revenue 264,728,360.22 250,900,094.03
Interest income
Earned premium
Fee and commission
income
II Total Operating cost 264,523,951.61 238,000,212.44
29
Including: Operating costs 219,741,407.16 218,874,259.05
Interest costs
Fee and commission costs
Cash surrender
Net compensation expenses
Net extraction reserves for
insurance contracts
Policy dividend payout
Reinsurance expense
Business tax and surcharge 553,189.30 401,832.22
Sales expenses 2,162,304.33 1,913,459.71
Administrative expenses 13,721,691.25 16,530,420.03
Financial expenses 244,394.62 612,320.50
Asset impairment losses 28,100,964.35 -332,079.07
Add: gains from changes of
fair value (Loss is listed with “-”)
Investment gain (Loss is
listed with “-”)
Including: Investment gains
on affiliated Company and joint venture
Exchange gains (Loss is
listed with “-”)
III. Operating profits (Loss is listed
204,408.61 12,899,881.59
with “-”)
Add: Non-operating income 23,292,200.92 23,441,013.97
Less: Non-operating expenditure 383,366.53 9,271,548.74
Including: Disposal loss on
383,366.53 4,779,798.56
non-current liability
IV Total profits (Total loss is listed with
23,113,243.00 27,069,346.82
“-”)
Less: Income tax expenses 28,100.00 660,166.07
V. Net profit (Net loss is listed with “-”) 23,085,143.00 26,409,180.75
Including: Net profit generated by
combined party before merged
Net profit attribute to owners of
23,102,972.94 26,409,180.75
parent company
30
Minority interest -17,829.94
VI. Earnings per share(EPS) -- --
(i) Basic Earnings per share(EPS) 0.09 0.1
(ii) Diluted Earnings per
0.09 0.1
share(EPS)
VII. Other consolidated income 624,046.25 495,931.24
VIII. Total consolidated income 23,709,189.25 26,905,111.99
Total consolidated income
attributable to owners of parent 23,727,019.19 26,905,111.99
company
Total consolidated income
-17,829.94
attributable to minority shareholders
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
4. Profit Statement of parent company
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
In RMB
Items Current Amount Amount of the Previous Period
I. Operation revenue 77,302,186.47 76,969,574.92
Less: Operating costs 52,558,645.91 63,054,354.15
Business tax and surcharge 408,041.83 214,242.10
Sales expenses 320,070.10 152,247.70
Administrative expenses 8,699,221.16 11,594,044.53
Financial expenses -2,583,406.92 -545,105.83
Asset impairment losses 28,100,964.35 6,940.30
Add: gains from changes of fair
value(Loss is listed with “-”)
Investment gain(Loss is listed
with “-”)
Including: Investment gains
on affiliated Company and joint venture
III. Operating profits (Loss is listed
-10,201,349.96 2,492,851.97
with “-”)
Add: Non-operating income 27,362,725.84 22,371,200.00
Less: Non-operating expenditure 38,833.00 9,271,548.74
Including: Disposal loss on
31
non-current liability
III. Total profit (Loss is listed with “-”) 17,122,542.88 15,592,503.23
Less: Income tax expenses
IV. Net profit (net loss is listed with “-”) 17,122,542.88 15,592,503.23
V. Earnings per share(EPS): -- --
(i) Basic Earnings per share(EPS) 0.06 0.06
(ii) Diluted Earnings per
0.06 0.06
share(EPS)
VI. Other consolidated income 33,737.59
VII. Total consolidated income 17,122,542.88 15,626,240.82
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
5. Consolidated Cash Flow Statement
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
In RMB
Items Current Amount Amount of the Previous Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 230,660,666.38 248,335,015.05
services
Net increase of customer deposit and
interbank deposit
Net increase of loan from central
bank
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings and
investment
Net increase of disposal of
transaction financial asset
Cash received from interest,
commission charge and commission
32
Net increase of capital borrowed
Net increase of returned business
capital
Write-back of tax received 12,189,045.48 11,231,763.77
Other cash received concerning
27,985,523.92 46,600,965.81
operating activities
Subtotal of cash inflow arising from
270,835,235.78 306,167,744.63
operating activities
Cash paid for purchasing
commodities and receiving labor 217,694,025.61 202,727,715.67
service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 29,988,312.71 33,250,485.33
Taxes paid 1,645,241.25 2,471,402.64
Other cash paid concerning
42,422,753.42 25,556,822.18
operating activities
Subtotal of cash outflow arising from
291,750,332.99 264,006,425.82
operating activities
Net cash flows arising from operating
-20,915,097.21 42,161,318.81
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term 84,260.00
assets
33
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
33,974,356.00
investing activities
Subtotal of cash inflow from investing
34,058,616.00
activities
Cash paid for purchasing fixed,
24,665,948.50 44,167,850.71
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash paid for obtaining
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
24,665,948.50 44,167,850.71
activities
Net cash flows arising from investing
9,392,667.50 -44,167,850.71
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
26,000,000.00
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 14,540,265.98 54,149,101.35
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
40,540,265.98 54,149,101.35
activities
Cash paid for settling debts 5,510,969.88 23,930,636.48
Cash paid for dividend and profit
2,313,143.17 809,191.90
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
34
financing activities
Subtotal of cash outflow from financing
7,824,113.05 24,739,828.38
activities
Net cash flows arising from financing
32,716,152.93 29,409,272.97
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -227,334.46 27,160.25
exchange rate
V. Net increase of cash and cash
20,966,388.76 27,429,901.32
equivalents
Add: Balance of cash and cash
28,287,601.46 65,716,267.14
equivalents at the period -begin
VI. Balance of cash and cash
49,253,990.22 93,146,168.46
equivalents at the period -end
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
6. Cash Flow Statement of parent company
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
In RMB
Item Current Amount Amount of the Previous Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 50,291,346.17 54,285,974.40
services
Write-back of tax received
Other cash received concerning
22,905,133.04 73,068,096.21
operating activities
Subtotal of cash inflow arising from
73,196,479.21 127,354,070.61
operating activities
Cash paid for purchasing
commodities and receiving labor 59,211,420.68 34,724,904.65
service
Cash paid to/for staff and workers 10,679,592.87 16,508,207.38
Taxes paid 457,103.57 547,525.58
Other cash paid concerning
6,689,803.36 1,408,794.82
operating activities
35
Subtotal of cash outflow arising from
77,037,920.48 53,189,432.43
operating activities
Net cash flows arising from operating
-3,841,441.27 74,164,638.18
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
33,974,356.00
investing activities
Subtotal of cash inflow from investing
33,974,356.00
activities
Cash paid for purchasing fixed,
13,396,619.50 43,438,239.53
intangible and other long-term assets
Cash paid for investment 12,285,800.00
Net cash paid for obtaining
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
25,682,419.50 43,438,239.53
activities
Net cash flows arising from investing
8,291,936.50 -43,438,239.53
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans 7,600,000.00 10,260,000.00
Cash received from issuing bonds
Other cash received concerning
financing activities
36
Subtotal of cash inflow from financing
7,600,000.00 10,260,000.00
activities
Cash paid for settling debts
Cash paid for dividend and profit
1,925,976.78 16,051.20
distributing or interest paying
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
1,925,976.78 16,051.20
activities
Net cash flows arising from financing
5,674,023.22 10,243,948.80
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
10,124,518.45 40,970,347.45
equivalents
Add: Balance of cash and cash
16,467,806.39 24,327,292.06
equivalents at the period -begin
VI. Balance of cash and cash
26,592,324.84 65,297,639.51
equivalents at the period -end
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
7. Consolidated Statement on Changes of Owners' Equity
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
Current Amount
In RMB
Current Amount
Owners' equity attributable to the parent company
Interest of
Paid-in Reserve Total
Item minority
Less:
capital(s Capital Special Surplus for Retaine owners’
treasury Other sharehold
hare surplus reserve reserve general d profit equity
stock ers
capital) risks
I. Balance at the end of last 266,071 281,245, 21,908, -93,413, 1,014,14 476,829,36
4,387.09
year ,320.00 215.96 064.19 762.00 1.42 6.66
Add: Changes of
accounting policy
Error correction of
37
previous period
Others
II. Balance at the beginning of 266,071 281,245, 21,908, -93,413, 1,014,14 476,829,36
4,387.09
this year ,320.00 215.96 064.19 762.00 1.42 6.66
III. Increase/ Decrease in this
23,102,9 624,046. 25,982,17 49,709,189
year (Decrease is listed
72.94 25 0.06 .25
with'"-")
23,102,9 23,102,972
(i) Net profit
72.94 .94
624,046.
(ii) Other consolidated income 624,046.25
25
23,102,9 624,046. 23,727,019
Subtotal of (i)and (ii)
72.94 25 .19
(III) Owners' devoted and 25,982,17 25,982,170
decreased capital 0.06 .06
25,982,17 25,982,170
1. Owners' devoted capital
0.06 .06
2. Amount calculated into
owners' equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus
reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) 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. Others
(VI) Special reserve
38
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the 266,071 281,245, 21,908, -70,310, 1,638,18 25,986,55 526,538,55
report period ,320.00 215.96 064.19 789.06 7.67 7.15 5.91
Amount in last period
In RMB
Amount in last period
Owners’ equity attributable to the parent company
Interest of
Paid-in Reserve Total
Items Less: minority
capital(s Capital Special Surplus for Retaine owners’
treasury Other sharehold
hare surplus reserve reserve general d profit equity
stock ers
capital) risks
I. Balance at the end of last 266,071 281,233, 21,908, -133,70 919,099. 436,432,65
4,387.09
year ,320.00 795.42 064.19 4,015.43 20 0.47
Add: retroactive
adjustment arising from
enterprise consolidation under
the same control
Add: Changes of
accounting policy
Error correction of
previous period
Other
II. Balance at the beginning of 266,071 281,233, 21,908, -133,70 919,099. 436,432,65
4,387.09
this year ,320.00 795.42 064.19 4,015.43 20 0.47
III. Increase/ Decrease in this
11,420.5 40,290,2 95,042.2 40,396,716
year (Decrease is listed
4 53.43 2 .19
with’”-”)
40,290,2 40,290,253
(i) Net profit
53.43 .43
11,420.5 95,042.2
(II) Other consolidated income 106,462.76
4 2
11,420.5 40,290,2 95,042.2 40,396,716
Subtotal of (i)and (ii)
4 53.43 2 .19
(III) Owners’ devoted and
decreased capital
1. Owners’ devoted capital
39
2. Amount calculated into
owners’ equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus
reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) 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. Others
( VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the 266,071 281,245, 21,908, -93,413, 1,014,14 476,829,36
4,387.09
report period ,320.00 215.96 064.19 762.00 1.42 6.66
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
8. Statement on Changes of Owners' Equity of Parent Company
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
Current Amount
In RMB
Current Amount
Paid-in Less: Reserve Total
Items Capital Special Surplus Retained
capital(sha treasury for general owners’
surplus reserve reserve profit
re capital) stock risks equity
40
266,071,32 279,130,08 19,184,672 -192,777,4 371,608,64
I. Balance at the end of last year
0.00 9.16 .34 38.29 3.21
Add: Changes of accounting
policy
Error correction of
previous period
Other
II. Balance at the beginning of 266,071,32 279,130,08 19,184,672 -192,777,4 371,608,64
this year 0.00 9.16 .34 38.29 3.21
III. Increase/ Decrease in this 17,122,542 17,122,542
year (Decrease is listed with’”-”) .88 .88
17,122,542 17,122,542
(i) Net profit
.88 .88
(II) Other consolidated income
17,122,542 17,122,542
Subtotal of (i)and (ii)
.88 .88
(III) Owners’ devoted and
decreased capital
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) 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. Others
41
(VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the 266,071,32 279,130,08 19,184,672 -175,654,8 388,731,18
report period 0.00 9.16 .34 95.41 6.09
Amount in last year
In RMB
Amount in last yea
Paid-in Less: Reserve Total
Item Capital Special Surplus Retained
capital(sha treasury for general owners’
surplus reserve reserve profit
re capital) stock risks equity
266,071,32 279,118,66 19,184,672 -216,841,0 347,533,58
I. Balance at the end of last year
0.00 8.62 .34 73.34 7.62
Add: Changes of accounting
policy
Error correction of previous
period
Other
II. Balance at the beginning of 266,071,32 279,118,66 19,184,672 -216,841,0 347,533,58
this year 0.00 8.62 .34 73.34 7.62
III. Increase/ Decrease in this 24,063,635 24,075,055
11,420.54
year (Decrease is listed with’”-”) .05 .59
24,063,635 24,063,635
(i) Net profit
.05 .05
(II) Other consolidated income 11,420.54 11,420.54
24,063,635 24,075,055
Subtotal of (i)and (ii) 11,420.54
.05 .59
(III) Owners’ devoted and
decreased capital
1. Owners’ devoted capital
2. Amount calculated into
owners’ equity paid in shares
3. Others
(IV)Profit distribution
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
42
provisions
3. Distribution for owners
(shareholders)
4. Others
(V) 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. Others
(VI) Special reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the 266,071,32 279,130,08 19,184,672 -192,777,4 371,608,64
report period 0.00 9.16 .34 38.29 3.21
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
III. Company profile
Shandong Zhonglu Oceanic Fisheries Co., Ltd. (the “Company”) was incorporated as a joint stock limited
company in the People’s Republic of China on 30 July 1999 according to the documentation of Lu Ti Gai Zi
[1999] No.85 issued by Shandong Development and Reform Commission, and the holding company of the
Company is Shandong Fisheries Enterprise Group General Corporation, the main sponsor. On 26 June 2000, the
Company issued 120 million domestic listed foreign shares (B shares) to foreign investors with face value of One
Yuan per share according to the approval documentation of Zheng Jian Fa Xing Zi [2000] No.82 issued by the
China Securities Regulatory Commission. The B shares listed on the Shenzhen Stock Exchange dated 24 July
2000. On 22 August 2000, by the Company’s authorization, lead underwriters fully exercised the 15%
over-allotment option and issued 18 million B shares to foreign investors again with face value of 1 Yuan per
share, and then the Company's total issued share capital is 266,071,320.00 Yuan.
Since 2003, 125,731,320 state-owned legal person shares (representing 47.25% of the total share capital of the
Company) held by Shandong Fisheries Enterprise Group General Corporation (“Fisheries Group”) have been
frozen by the judiciary, including: A. Fisheries Group provided guarantee for the loan of 11,700,000 Yuan for a
43
subordinate company, but the subordinate company failed to repay the loan on time, so Shandong Yantai
Intermediate People's Court froze 8,000,000 shares (representing 3% of the total share capital). B. Fisheries
Group borrowed 73,580,680 Yuan from the Agricultural Bank of China Jinan Lixia branch, and Jinan Lixia Court
froze 80,000,000 shares (representing 30.07% of the total share capital).
On 10 December 2006, shares of the Company 88,000,000 shares held by Fisheries Group were auctioned
publicly. According to the auction transaction confirmation (Lu Yin Pai Cheng Zi [2006] No.96) of Shandong
Silver Star Auction Ltd., Shandong State-owned Assets Investment Holdings Ltd. bought the shares at the price of
48,400,000 Yuan. Shandong State-owned Assets Investment Holdings Ltd. comes to the first majority shareholder
of the Company with 33.07% equity of the Company held after auction. Relevant transfer procedures completed
on 20 June 2007. .
Fisheries Group borrowed 73,344,932 Yuan from Bank of China Jinan branch (the creditor of the loan was
changed to China Xinda Asset Management Corporation from Bank of China in 2004), and Shandong Higher
People's Court froze 37,731,320 shares (representing 14.18% of the total share capital). On 7 June 2005, the above
37,731,320 shares were auctioned publicly, according to the auction transaction confirmation (Lu Rui Cheng Zi
[2005] No.013) of Shandong Qilu Rui Feng Auction Ltd., Shandong Luxin Investment Holdings Ltd. bought the
shares at the price of 8,760,000 Yuan. On 2 February 2007, relevant transfer procedures have been completed.
Corporate industry: sea-going fisheries
Corporate major products: tuna and its products
Corporate registered address: No. 43, Heping Road, Jinan, Shandong Province, PRC
Operating scope: marine and oceanic fishing; aquatic products breeding, processing and marketing; merchandise
import and export business within approved scope; ice machine manufacture and sale; refrigeration equipment
manufacturing, installation, maintenance; refrigeration; load and unload services; housing lease.
Basic organization structure of the Company: board of shareholders, board of directors, supervisory committee,
office of the board, general affairs department, departments of human resources, financing plan department,
corporate operation department and office of auditory supervision. Three branches are Shandong Zhonglu Oceanic
Qingdao Haiwei Branch, Shandong Zhonglu Oceanic Qingdao Haiyan Branch and Shandong Zhonglu Oceanic
Qingdao Refrigeration Branch. Three wholly-owned subsidiaries are Shandong Zhonglu Fishery Shipping Co.,
Ltd., Shandong Zhonglu Oceanic (Yantai) Foods Co., Ltd. and HABITAT INTERNATIONAL CORP. The
operation entity –YAW ADDO FISHERIES COMPANY LIMITED, is controlled by operation lease. The
Company has a new subsidiary Shandong Zhonglu Haiyan Deep-sea Fishery Co., Ltd. in 2013 with equity of
51.85% held.
44
IV．Main accounting policies and estimates and previous errors
1. Preparation basis of Financial Statements
Base on the assumption of running continuously and actual transactions and events, in line with the Accounting
Standards for Business Enterprise – Basic Standards and No. 38 specific principle of accounting standards issued
on 15 February 2006 from the Ministry of Finance as well as the application guidance, interpretational and other
relevant regulations of Standards, the Company prepared and formulate the financial statement lies on the
followed important accounting policy and estimation.
2. Declaration of obedience to Accounting Standards for Business Enterprise
The Financial Statements of the Company are up to requirements of Accounting Standards for Business Enterprise
and also a true and thorough reflection to the relevant information as the Company’s financial position dated 30th
June 2013 and the operation results as well as cash flow in first half year of 2013.
3. Accounting period
The Company’s accounting year is Gregorian calendar year, namely from 1st January to 31st December of every
year.
4. Bookkeeping standard currency
The Renminbi (RMB) is taken as the book-keeping standard currency
5. Accounting methods for consolidation of enterprises under the same control or otherwise
(1) Consolidation of enterprises under the same control
As for the consolidation of enterprises under the same control, the assets and liabilities received by the combining
party in the consolidation are measured on the book value of the combined party on consolidation day. The
difference between the book value of net assets, acquired by combining party, and book value of consideration (or
total face value of the shares issued) paid, capital surplus adjusted; if the capital surplus not enough to written
down, than retained earning adjusted. Directly expenses occurred in combination from the combining party should
be reckoned into current gains/losses.
(2) Consolidation of enterprises not under the same control
As for the consolidation not under the same control, the consolidation cost is the fair value of the assets paid,
liabilities incurred or committed, and equity securities offered, for obtaining the control right over the purchased
party. As for the consolidation achieved by several exchange transactions, the consolidation cost is the total of
each single transaction. All expenses of the purchasing party for and directly related to the consolidation are
reckoned into the corporate consolidation cost. For those agreements that made in consolidation contracts for
future events which might have influenced on consolidation cost, on purchased day, if the estimated future events
probably going to occurred and the influence amount on consolidation cost should be calculated reliably, than
reckoned into consolidation cost.
45
As for acquiree that obtained by consolidation not under the same control, the qualified confirmation of identified
assets, liability and contigency liabilities should calculated by fair value on day of purchsaed. If the consolidation
cost larger than the fair value amount of indentified net assts from acquiree’s, the differences should be
recognized as goodwill. If the consoldiation cost less than the fair value amount of indentified net assts from
acquiree’s, the differences should reckoned into current gains/losses after re-examination.
6. Preparation methods for consolidated financial statements
(1) Preparation methods for consolidated financial statements
For the subsidiaries and special purpose entity whose actual control was held by the Company, included in the
range of consolidate financial statement of the Company.
As the Company’s financial statements are prepared pursuant to the Accounting Standards for Business
Enterprises No. 33 – Consolidated Financial Statements and relevant rules, all substantive inside transactions and
dealings within the consolidation scope are balanced out during the consolidation. As for the shareholders’ equity
not attributable to the Parent Company in the subsidiaries, it is specifically listed as the minority shareholders’
equity in the shareholders’ equity.
As for the inconsistency between the subsidiaries and the Company in the accounting policies and periods, the
necessary adjustment is made on the subsidiaries’ financial statements in the preparation of the consolidated
financial statements according to the Company’s accounting policies and periods.
As for the subsidiaries obtained in the consolidation of enterprises not under the same control, the adjustment is
made on the individual financial statements on the basis the fair value of the identifiable assets on the purchase
day. As for the subsidiaries obtained under the same control, the consolidation is regarded as starting at the
Year-beginning of the consolidation period, and the assets, liabilities, operation results and the cash flow are
reckoned into the consolidated financial statements from the year-beginning in the consolidation period.
(2)Disclosing the relevant accounting methods on buying to selling or selling to buying of the equity in two
successive fiscal year for same subsidiaries
7. Determination criteria of cash and cash equivalent
The cash recognized in the preparation of the cash flow statements, is the Company’s storage cash and deposits
available for payment anytime.
The cash equivalents recognized in the preparation of the cash flow statements refers to the investment held by the
Company with characteristic of short-term, strong mobility, easy transfer to known sum cash and has slim risk
from value changes.
8. Foreign currency exchange and the conversion of foreign currency statements
46
(1) Foreign currency exchange
The foreign currency exchange is booked on the current exchange rate on the transaction day and converted in the
bookkeeping standard currency.
On the balance sheet day, the monetary items are converted on the current rate on the balance sheet day, concerning
the exchange differences between teh spot exchange rate on that date and initial confirmation or the sport
exchange rate on previously balance sheet date, should reckoned in to current gains/losses except the capitalizing
on exchange differences for foreign specific loans, which was reckoned into cost for capitalizing.
The non-monetary items measured on the historic cost are still measured by the original bookkeeping rate with the
sum of the bookkeeping standard currency unchanged. Items of non-monetary foreign currency which was
calculated by fair value, should converted by spot exchange rate on the confirmation day of fair value, difference
between the converted amount of bookkeeping currency and original amount of bookkeeping currency, was
treated as changes of fair value (including exchange rate changed) reckoned into current gains/losses or
recognized as other consolidated income and reckoned into capital public reserve.
(2) Conversion of foreign currency financial statements
Upon the conversion of the foreign currency financial statements of the controlling subsidiaries, joint enterprises,
and the affiliated enterprises on the bookkeeping standard currency different from the Company’s, the accounting
check and preparation of the consolidated financial statements are made.
Assets and liabilities items in the balance sheet, are converted on the current rate on the balance sheet day;
owners’ equity items besides the “retained profit” item, the other items are converted on the actual rate. Incomes
and expenses items in the profit statement are converted on the current rate. The conversion difference of the
foreign currency financial statements is listed specifically in the owners’ equity in the balance sheet.
The foreign currency cash flow is converted on the current rate on the cash flow actual day. The cash influenced
by the rate fluctuation is listed specifically in the cash flow statement.
As for the foreign operation, the conversion difference of the foreign currency statement related to the foreign
operation is transferred in proportion into the disposal of the current loss/gain.
9. Financial instruments
(1) Categories of financial instruments
The financial instruments are classified as the financial assets and liabilities.
In the initial recognition, the financial assets are classified as, the financial assets measured on fair value and with
its changes reckoned into the current loss/gain (including tradable ones and ones designated to be measured on
fair value and with its changes reckoned into the current loss/gain), long-term invest-bonds, account receivables,
47
and financial assets available for sale. Categories of the financial assets besides account receivables are dependent
on the holding intention and purpose of the Company and its subsidiaries for the financial assets.
In the initial recognition, the financial liabilities are classified as the financial liabilities measured on the fair value
and with its changes reckoned into the current loss/gain (including tradable ones and ones designated to be
measured on fair value and with its changes reckoned into the current loss/gain), other financial liabilities.
As the Company becomes one party of the financial instrument contract, the instrument is recognized as one
financial asset or liability.
(2) Recognition and measurement of financial instruments
In the initial recognition, the financial assets or liabilities are measured on fair value; and the follow-up
measurements are: financial assets and financial assets available for sale that measured by fair value and with
alteration reckoned into current gains/losses together with teh financial liabilities that measured by fair value with
alteration reckoned into current gains/losses should meausred by fair value; financial guarantee contract and loan
committments, loan by the rates lower than market rates, should conducted follow-up measurement by the higher
ones between confirmed amount recognized by “Accounting Standards for Business Enterprises No.13
—Contingencies” after initial confirmation and balance of initial confirmed amount deducting the accumulated
amortization amount, based on “Accounting Standards for Business Enterprises No.14—Revenue”; investment
held to maturity, loans, account receivable and other financial liabilities should measured by amortized cost.
The loss/gain from the fair value changes in the follow-up measurement of the financial assets and liabilities,
besides one related to the hedge, is dealt with in the following methods: ① The financial assets or liabilities
measured on the fair value and with its changes reckoned into the current loss/gain, are reckoned into the fair
value loss/gain; the interest or cash dividend obtained in the assets holding period, is recognized as the investment
return; in disposal, the difference between the sum actually received and the one booked initially, is recognized as
the investment return with the loss/gain of the fair value change adjusted. ② The fair value change of the financial
assets available for sale, is reckoned into the reserve; the interest on the actual rate in the holding period, is
reckoned into the investment return; the cash dividend of the stock instrument available for sale is reckoned into
the investment return when the invested unit announces to pay the dividend, is reckoned into the investment return;
in dividend, the difference between the sum actually received and the book value in deduction of the accumulative
fair value change originally booked into the capital reserve.
(3) Recognition basis and measurement method for the transfer of financial assets
The Company’s recognition basis of the financial assets transfer: As for the financial assets with all risks and
compensations on their patent transferred, or all risks and compensations neither maintained nor transferred but
the control over the assets given up, the recognition of the financial asset may terminate.
The Company’s measurement of the financial assets transfer: For the financial assets are qualified for the
48
recognition of termination conditions, the measurement may be taken on the financial assets transfer, namely the
difference is reckoned into the current loss/gain, between the book value of the transferred financial assets and, the
total of the consideration value received from the transfer and the fair value change accumulative sum originally
booked into the capital reserve.
As for the partly transfer of the financial assets qualified for the recognition termination conditions, the whole
book value of the transferred financial assets is diluted on the respective relative fair value between the part of
recognition termination and the part of no recognition termination, and the difference is reckoned into the current
loss/gain, between the book value of the part of recognition termination and, the total of the consideration value of
the part of recognition termination and the fair value change accumulative sum originally booked into the capital
reserve.
(4) Derecognizing conditions of the financial liabilities
The Company’s derecognizing conditions of the financial liabilities: For the current obligation of the financial
liabilities is relieved whole or partly, the recognition of the financial liabilities or part may be terminated.
(5) Recognition methods of the fair values of the financial assets and liabilities
The Company’s recognition methods of the fair values of the financial assets and liabilities: as for the financial
instrument in the active market, its fair value is recognized on the quotation in the active market; as for the
financial instrument in the active market, its fair value is recognized by the evaluation method.
The evaluation method consists of as the references to the familiar situation and the price in the latest market
transaction between the two voluntary parties, and the references to the current fair value of other substantially
same financial assets, and the conversion method of the cash flow. In the evaluation method, the market index is
the preferential and uttermost use, and the index specifically related to the Company and its subsidiaries is in less
use.
(6) Impairment testing method and way of accrual for depreciation reserves for financial assets (account
receivables excluded)
On the balance sheet day, the impairment check is taken on the book value of the financial assets besides the ones
measured on fair value and with changes reckoned into the current loss/gain, and as there is objective evidence to
the financial assets impairment, the impairment test may be taken on the financial assets, and the impairment
provision is accrued according to the test result.
The Company exercise impairment test on financial assets with single major amount independently; for those
financial assets with minor single amount, impairment test was exercised or performing test in combination of
fianncial assets that with similar charateristic of credit risk. If no impairment found in independent test for those
financial assets( including financial assets with single major and minor amount), consolidated into the
combination of fianncial assets with similar charateristic of credit risk found for impairment testing again. If
49
impairment found in those fianncial assets, then not going to consolidated into the combination of fianncial assets
with similar charateristic of credit risk found for impairment testing.
If impairment found in held-to-maturity investment, loans and account receivable, calculated their book value to
the current value of predicted future cash flow, the less reckoned amount was recognized as impairment losses and
reckoned into curren gains/losses. If impairment found in financial assets available for sale, transfer-out the
accumulated losses, reckoned into capital public reserve before, for fair value decreased, and reckoned into
current gains/losses, the accumulated losses transfer-out was the balance of initial obtained cost deducting the
principal received, amortized amount, current fair value and original impairment losses that reckoned into
gains/losses.
(7) Explain the holding purpose and basis of changes in ability for those re-classified as financial assets
available for sale from held-to-maturity investment whose terms have not matured
Main criterion of re-classification of the undue held-to-maturity investment as financial assets available for sale:
1) For there are no financial resources available for the continual capital support for the financial assets, the
financial assets has to be due;
2) There is no intention for holding due in the management;
3) Due to the restrictions of the law and the executive rules, or other reasons, it is impossible for holding the
financial assets due;
4) And other indications to the Company’s incapability for holding due.
The re-classification of the undue held-to-maturity investment as financial assets available for sale needs to be
decided by the approval from Board of Directors.
10. Recognition criteria and accrual method of bad debt provision for account receivable
The account receivables of the Company mainly consist of the bill receivable, long-term receivables and other
account receivable. On the balance sheet day, if there is objective evidence to the actual impairment, the
impairment loss is recognized on the difference between the book value and the current value of the estimative
future cash flow.
(1) Bad debt provision for account receivables with single major amount
Account receivable with over one million Yuan(one million
Criterion or amount standards of major single amount
yean inclusive)
Withdrawal method for individual bad debt provision accrual with Recognized on the difference between the book value and the
major single amount concerned current value of the estimative future cash flow
(2) Account receivable with bad debt provision accrual by portfolio
Portfolio Accrued method for bad Portfolio basis
50
debt provision withdrawal by
portfolio
Accounts with major single amount without withdrawal bad debt
Portfolio 1 Aging of accounts
provision singly
Portfolio 2 Aging of accounts Accounts without major single amount and major risks
Withdrawing bad bed provision by aging method in portfolio
√ Applicable □Not applicable
Accrued proportion of accounts
Account ages Accrued proportion of other accounts receivable (%)
receivable (%)
Within six months 5% 5%
Six months to one year (one year
10% 10%
inclusive)
1－2 years 30% 30%
2－3years 50% 50%
Over three years 100% 100%
Withdrawing bad bed provision by percentage of total accounts receivable outstanding in portfolio
□Applicable √Not applicable
Withdrawing bad bed provision by other methods in portfolio
□Applicable √Not applicable
(3) Account receivable with minor single amount but has individual bad debt provision accrual
Reasons for individual bad debt prevision Account receivable with over three years in account age and has objective evidence
accrual of impairment appears
Recognized on the difference between the book value and the current value of the
Accrued method for bad debt provision
estimative future cash flow
11. Inventory
(1) Categories of inventory
The inventory is goods or manufactured products held for sale, products in process, and materials and matters
utilized in the production or supply of labor. It mainly consists of the raw material, turnover material, consumable
low-value product, product in process, self-made semi-finished product, and manufactured product (storage goods)
etc.
(2) Accounting method for inventory delivery
Accounting method: weighted average
Recognized actual cost for the inventory while deliver by using weighted average method
51
(3) Recognition principle of net realizable value of inventory and accrual method for inventory falling price
reserves
On the balance sheet day, the inventory is measured on the lower one between the cost and the net realizable value,
and the provision for the falling price reserves is accrued on each inventory item; however, as for the inventory of
large quantity and low price, the provision is accrued on the inventory category.
Recognition principle on net realizable value of inventory: ① net realizable value as the estimative sale price less
the relevant tax expenses. ② as for the materials held for production, if the net realizable value of the
manufactured product in use of the materials, is higher than the cost, the net realizable value is measured on cost;
as the fall-down of the material price shows that the net realizable value of the manufactured product is lower than
the cost, recognizable value is recognized on the estimative sale price less the estimative will-be actual cost,
estimative sale expenses, and relevant tax expenses.③ As for the materials held on sale, the net realizable value is
the market sale price.
(4) Inventory system
Inventory system: perpetual inventory system
Inventory system of the Company is perpetual inventory system
(5) Amortization method for the low-value consumables and wrap page
Low-value consumables
Amortization method: fifty percent (50%) amortization
Wrap page
Amortization method: fifty percent (50%) amortization
12. Long term equity investment
(1) Recognition of investment cost
① initial investment cost of long term equity investment obtained by corporate consolidation: in the case of the
consolidation of enterprises under the same control, recognized as the initial cost is the book value of the owners’
equity obtained from the consolidated party; in the case of the consolidation of enterprises not under the same
control, recognized as the initial cost is the recognized consolidation cost on the purchase day. ② As for the long
term equity investment obtained by cash payment, the initial investment cost is the actual purchase payment. ③
As for the long term equity investment obtained by the equity securities offering, the initial investment cost is the
fair value of the equity securities. ④ As for the long term equity investment invested in by the investors, the initial
investment cost is the value in the contract agreement. ⑤ As for the long term equity investment obtained by the
exchange of the non-monetary assets and the debts restructuring, the initial investment cost is recognized on the
relevant rules in the Principles.
(2) Follow-up measurement and recognition of gains/losses
The follow-up measurement of the long term equity investment is on equity or cost. As for the long term equity
52
investment on, the investment return is recognized on the share of the net gains/loses deserved or distributed; upon
the calculation of the deserved share of the profit and cash dividend announced to be distributed, the book value of
the long term equity investments decreased correspondingly. As for the long term equity investment on, the book
value remains unchanged, besides the investment added or withdrawn. Upon the calculation of the deserved share
of the profit or cash dividend announced to be distributed, the investment return is recognized.
As for the long term equity investment of common control and significant influence, it is checked on equity; and
others are checked on cost.
(3) Recognition principle of being has common control and significant influence on the invested unit
① Recognition principle on common control over invested units: the common control is agreed in the contract or
agreement by the two or more joint parties that the accounting and operation policy must be decided commonly by
the two or several investment parties.
② Recognition principle on the significant influence on invested unit: As above 20% to 50% vote capital is held
in the invested unit, the significant influence is recognized; or as 20% below is held, the significant influence is
recognized if the following conditions are matched up to: ①there is representative in the invested unit’s board of
directors or similar authority organs; ②there is participation in the policy-making of the invested unit; ③there is
management person dispatch into the invested unit; ④there is dependence on the invested company’s technology
or technologic materials; ⑤and other situations which can prove fully the significant influence on the invested
unit
(4) Impairment test method and accrual method for impairment provision
On the balance sheet day, the check is taken on the long term equity investment to make sure whether there is the
indication to the impairment; once there is, the impairment test is taken to recognize the recoverable, and then the
provision for the impairment is accrued on the lower one between the book value and the recoverable; once the
impairment loss is accrued, it may not be transferred in the future accounting periods.
As for the net fair value sold in the long-term stock investment, if there is the agreement price of the fair
transaction, it is on the agreement price less the relevant tax expense; or there is no fair transaction agreement but
the active market for similar assets, it is on the market price less relevant tax expense.
13. Investment real estate
(1) Category and measurement for investment real estate
Category of the Company’s investment real estate: rented land use rights, rented buildings and land use rights held
for transfer after appreciation.
Investment real estate of the Company is initially measured by cost and conducting follow-up measures by cost
mode.
53
(2) Policy of the cost calculation mode
Accrued on the year averaging is the depreciation of the lease buildings in the Company’s investment property.
The detailed check principle is same as that of the fixed assets. The rented land use rights and land use rights held
for transfer after appreciation owned by the Company was adopted line amortization method. Detail calculation
policy was similar to intangible assets.
On balance sheet day, examing impairment evidence on investment real estate, if found evidence of impairement,
than conducted impairment test and confirmed its recovered amount. Withdrawal impairment provision by lower
amount between its book value and recovered amount, the impairment losses should be transfer-back in
subsequent accounting period while been accrued.
14. Fixed assets
(1) Recognition of fixed assets
The fixed assets are tangible assets held for the goods production, labor supply, lease or operation & management,
and with above one-accounting-year service life; meanwhile as up to the following conditions, they are recognized:
①The economic interest related to the fixed assets probably flow into the Company; ②The cost of the fixed
assets can be measured reliably.
(2) Recognized basis and valuation method for fixed assets that rent-in by financing
Recognized basis for fixed assets that rent-in by financing: rents that transfer all risks and remuneration relted to
assets ownership actually. Detail recognition for follow one item or more item been qualified: ① while the tenacy
expired, ownership of the rented assets transfer to lessee; ② lessee has the right of choice for purchasing rented
assets, the purchased price setted was far lower than the fair value of rented assets that exercise option rights by
prediction, the option rights was reaonably recognized on date of renting for lessee; ③thought no ownership
transfer, rent period takes majority time of the useful life of rented assets; ④ current value of the minimun rented
amount payment on date of renting is almost equals to the fair value of rented assets on starting day of purchasing;
⑤ rented assets owes special natures, lessee should not be used this rented asstes if no major changes on this
assets.
Valuation method for fixed assets that rent-in by financing: initial valuation for the fixed assets rent-in by
financing was used the lower ones between faire value of rented assets on starting day of purchasing and
minimum rented payment for bookkeeping value;
Follow-up valuation for fixed assets that rent-in by financing was used the similar depreciation policies of
self-owned fixed assets withdrawal depreciation and impairment provision.
(3) Depreciation method for vary fixed assets
The Company’s fixed assets are mainly divided as: house buildings, ships & machines & fishing equipment,
furniture & office equipment, transportation equipment; the depreciation is in year averaging method. The service
life and the net estimative remnant are recognized on the nature and utilization of the fixed assets; and at the
year-end, the service life, net estimative remnant, and the depreciation method, of the fixed assets, are checked,
54
and the corresponding adjustment is made if there is inconsistency between the checked ones and the previous
ones. The depreciation of all of the Company’s fixed assets is accrued, besides the ones sufficiently accrued and in
continuous use, and the land booked specifically.
Category Depreciation life (year) Salvage rate (%) Annual depreciation rate (%)
House and building 20-40 3-5% 2-5%
Machine equipment 8-20 3-5% 5-12%
Electronic devices 5 3-5% 19-19%
Transportation equipment 5 3-5% 19-19%
Vessels 15-30 3-5% 3-6%
(4) Impairment test method of fixed assets, and accrual method for provision of impairment
At balance sheet day, fixed assets have been examined by the Company whether there has evidence of impairment
probably, while impairment evidence be found than impairment test shall be performed and recognized its
recoverable amount. Take the lower one between the book value and recoverable amount for impairment provision
withdrawal, the withdrawal impairment losses shall not be switch back in subsequent fiscal year.
The recoverable amount of fixed assets was recognized as the higher one between the net amount resuled from
faire value of assets minor disposal charges and current value of predicted future cash flows. If there exis sales
agrement price within fair transaction, net amount resulted from faire value of assets minor disposal charges
should recognized as the amount resulted from sales agreement price minor disposal charge directly attributable to
this asses; if exits no sales agrement price within fair transaction but exits active market or similar transaction
price in assets, then recognized by the amount resulted from market price minor disposal charge.
(5) Other explanations
15. Project in progress
(1) Category of project in progress
The Company’s project in progress is divided as the self-support and contract-out construction.
(2) Principle and time for project in progress carried forward as fixed assets
The project in progress of the Company carried forward as fixed assets while the construction is ready for the
intended use. Criteria of the expected condition for use should apply one of the follow conditions: ① The
substance construction (installation included) of the fixed assets has completed all or basically; ② As the projects
have been in test production or operation, and the results show that the assets can operate properly and produce
the qualified products stably, or the test operation result shows the assets can operate or open properly. ③ The
expenditure of the fixed assets on the construction, is a little or little. ④ The fixed assets of the project constructed
have been up to the requirements of the design or contract, or basically up to.
55
(3) Impairment test method of project in progress, and accrual method for provision of impairment
On the balance sheet day, the check is taken on the projects in progress for the indication to the impairment, and if
there is the indication, the impairment test is taken to recognize the recoverable, and the impairment provision is
accrued on the lower one between the book value and the recoverable; once the impairment loss is accrued, it
cannot be transferred back in the future accounting periods.
The recoverable is recognized on the higher one between the net of the assets fair value less the disposal expenses,
and the current value of the assets estimative future cash flow.
16. Borrowing expenses
(1) Recognition principle on capitalization of borrowing expenses
As for the Company’s actual borrowing expenses directly attributable to the assets construction or production, it is
capitalized and reckoned into the relevant assets cost; as for other borrowing expenses, it is recognized on the
actual sum and reckoned into the current loss/gain. The assets up to the capitalization are assets as the capital
assets, investment real estate, and inventory reaching the expectant availability or sale ability.
(2) Capitalization term
Capitalization term: the period from the time starts to capitalization to the time the capitalization ends. The period
of capitalization suspended is not included.
(3) Terms for capitalization suspended
Terms for capitalization suspended: the capitalization of borrowing expenses should be suspended while the
abnormal interrupt, which surpass three months continuously, in the middle of acquisition or construction or
production.
(4) Calculation of capitalization for borrowing expenses
Calculation of capitalization amount: ① As for the borrowing of the specific borrowing, the capitalization sum
is recognized on the current actual interest expenses less the interest income of the borrowing capital not utilized
but deposited in the bank or the return of the temporary investment; ② As for the appropriation of the general
borrowing, the capitalization sum is recognized on the weighted average of, the accumulative assets expenditure
above the specific borrowing, and times the capitalization rate of the appropriation; ③ As for the discount or
premium of the borrowing, the discount or premium to be diluted in every accounting period is recognized in the
actual rate method.
The effective interest method is the method for the measurement of the diluted discount or premium or interest
expenses on the actual interest rate; and the actual interest rate is the interest rate used in the discount of the future
cash flow in the expectant duration period as the current book value of the borrowing.
17. Intangible assets
(1) Accounting method for intangible assets
56
The Company’s intangible assets are measured initially on cost. The intangible assets purchased in are taken as the
actual cost on the actual payment and relevant expenditure. As for the intangible assets invested in by the
investors, the actual cost is recognized on the value stipulated in the contract or agreement; however, if what is
stipulated in the contract or agreement is not fair value, the actual cost is recognized on fair value. As for the
self-developed intangible assets, their cost is the actual total expenditure before reaching the expectant purpose.
The follow-up measurements of the Company’s intangible assets respectively are: ①the line amortization method
is taken on the intangible assets of finite service life, and at the yea-end, the check is taken on the service life and
dilution of the intangible assets, and the corresponding adjustment is made if there is inconsistency with the
previous estimative ones. ② As for the intangible assets of uncertain service life, it is not diluted, however, the
service life is checked at year-end; If there is solid evidence to its finite service life, its service life is estimated
and diluted in straight line method.
(2) Estimation of service life of intangible assets of finite service life
As the service life of the intangible assets of finite service life is estimated, the following factors are considered
usually: ① the ordinary service life period of products produced by the assets, and the available information of
the service life of the similar assets; ② the present situation of the technology, craftsmanship, etc. ③ the market
demand for the products produced by the assets and the labor supply; ④ the expectable actions taken by the
present or potential competitor; ⑤ expectant maintenance expenditure for the assets’ ability to bring forth the
economic interest; ⑥ relevant law rules or similar restrictions on control period of the assets; ⑦ relevancy with
the service life of other assets held by the Company.
Item Expected service life Basis
(3) Recognition principle of intangible assets with uncertain service life
Recognized as the intangible assets of uncertain service life is refers to those intangible assets of un-expectable
period of economic benefits brought into the Company, or of the uncertain service period.
Recognition principle of uncertain service life: ① from contract right or other legal rights, the uncertain service
period is stipulated in the contract or law; ② after the integration of the situations and relevant expertise
argumentation in the same trade, the period of the economic interest brought into the Company by the intangible
assets still cannot be recognized.
At every year-end, the check is taken on the intangible assets of uncertain service life, mainly in bottom-up way,
namely the basic check is taken by the department relevant to the assets utilization, to assess whether there is
change in the recognition principle of the uncertain service life.
(4) Accrual of impairment of intangible assets
On balance sheet day, the check is made on the intangible assets for the indication to the impairment; as there is
57
the indication, the recoverable is recognized, and the impairment provision is accrued on the lower one between
the book value and the recoverable; once the impairment loss is accrued, it may not be transferred back in later
accounting periods.
The recoverable amount on intangible assets shall recognized as the higher one between the fair value of assets
less net amount which have been disposal and current value of future predicted cash flow.
(5) Specific division standards of research stage and development stage for internal R&D project of the
Company
(6) Calculation of the expenditure from internal R&D projects
18. Long-term deferred expenditure
The Company’s long-term deferred expenditure are expenses paid out and with one year above (1-year included)
benefit period, mainly consisting of the house decoration expenses and the like. The long-term unamortized
expenses are diluted by periods according to the benefit period. As the long-term unamortized expenses cannot
enable the accounting period’s beneficiary, all dilution values of the project undiluted yet, are transferred into the
current loss/gain.
19. Accrued liabilities
(1) Recognition principle of accrued liabilities
The obligation, which can be measured in a reliable way, will recognize as the accrued liabilities while the duty
with contingency concerned is the current obligation for the Company, which may probably causes the outflow of
economic interests in fulfillment.
(2) Measurement of accrued liabilities
The initial measurement is taken according to the best estimator of the expenditure necessary for the fulfillment of
the relevant current liabilities; if the necessary expenditure is of a continual scope and of a same chance of all
results within the scope, the intermediate value is recognized as the best estimator; if several items are involved in,
the best estimator is recognized according to all likely results and relevant possibilities.
On the balance sheet day, the check is taken on the book value of the accrued liabilities, and the adjustment is
made on the book value according to the current best estimator if there is solid evidence to the inability of the
book value for the true reflection to the current best estimator.
58
20. Share-based payment and equity instrument
(1) Category of share-based payment
Share-based payment refers to a transaction in which an enterprise grants equity instruments or undertakes
equity-instrument-based liabilities in return for services from employee or other parties. The share-based
payments shall consist of equity-settled share-based payments and cash-settled share-based payments.
(2) Recognition of fair value of the equity instrument
As there is the active market, it is recognized on the quotation in the active market;
As there is no active market, it is recognized by the rational evaluation technology including the reference to the
price used in the latest market transaction between the parties familiar to situations and voluntary to the
transaction, and the reference to the current value of other financial instruments substantially same, discount of
cash flow and the option pricing model.
(3) Basis of optimum estimate for recognition of vesting equity instrument
(4) Relevant accounting treatment on implementation, modification and termination of the share-based
payment plan
21. Revenue
(1) Recognition standards for revenue from goods sales
The Company shall ascertain the revenue incurred by selling goods in accordance with the received or receivable
price stipulated in the contract or agreement signed between the enterprise and the buyer unless the following
conditions are met simultaneously: ① the significant risks and rewards of ownership of the goods have been
transferred to the buyer by the enterprise; ② the enterprise retains neither continuous management right that
usually keeps relation with the ownership nor effective control over the sold goods; ③the relevant amount of
revenue can be measured in a reliable way; ④ relevant economic benefits may flow into the enterprise and ⑤ the
relevant costs incurred or to be incurred can be measured in a reliable way. If the collection of the price as
stipulated in the contract or agreement is delayed and if it has the financing nature, the revenue incurred by selling
goods shall be ascertained in accordance with the fair value of the receivable price as stipulated in the contract or
agreement.
(2) Recognition basis of revenue from abalienating the right to use assets
The Company ascertains the revenue from abalienating of right to use assets while relevant economic interest may
flow into and the revenue can be measured in a reliable way.
(3) Recognition basis of revenue from providing labor services
If an enterprise can, on the date of the balance sheet, reliably estimate the outcome of a transaction concerning the
59
labor services it provides, it shall recognize the revenue from providing services employing the
percentage-of-completion method. The enterprise can ascertain the schedule of completion
(percentage-of-completion) under the transaction concerning the providing of labor services based on calculation
of completed works, if an enterprise can not, on the date of the balance sheet, measure the result of a transaction
concerning the providing of labor service in a reliable way, it shall be conducted in accordance with the following
circumstances, respectively: ①if the cost of labor services incurred is expected to be compensated, the revenue
from the providing of labor services shall be recognized in accordance with the amount of the cost of labor
services incurred, and the cost of labor services shall be carried forward at the same amount; ②if the cost of labor
services incurred is not expected to compensate, the cost incurred should be included in the current profits and
losses, and no revenue from the providing of labor services may be recognized.
(4) Recognition basis and method of schedule of the contracted project while ascertain the revenue from the
providing of labor services by percentage-of-completion method and revenue from construction contract
22. Government subsidy
(1) Category
Government subsidies consist of the government subsidies pertinent to assets and government subsidies pertinent
to income.
(2) Accounting method
The government subsidies pertinent to assets shall be recognized as deferred income, equally distributed within
the useful lives of the relevant assets, and included in the current gains/losses; the government subsidies measured
at their nominal amounts shall e directly included in the current gains/losses. The government subsidies pertinent
to incomes shall be treated respectively in accordance with the circumstances as follows: ①those subsidies used
for compensating the related future expenses or losses of the enterprise shall be recognized as deferred income
and shall included in the current gains/losses during the period when the relevant expenses are recognized;
②those subsidies used for compensating the related expenses or losses incurred to the enterprise shall be directly
included in the current gains/losses.
23. Deferred income tax asset and deferred income tax liability
(1) Recognition of deferred income tax asset
(1) Where there is difference between the carrying amount of the assets or liabilities and its tax base, (as for an
item that has not been recognized as an asset or liability, if its tax base can be determined in light of the tax law,
the tax base shall recognized as the difference) the deferred income tax and deferred income tax liabilities shall be
determined according to the applicable tax rate in period of assets expected to recover or liability expected to pay
off. (2) The deferred income tax assets shall be recognized to the extent of the amount of the taxable income
which it is most likely to obtain and which can be deducted from the deductible temporary difference. On balance
sheet date, if there have concrete evidence of obtaining, in future period, enough taxable amounts to deduct the
deductible temporary difference, the un-confirmed deferred income tax assts in previous accounting period shall
be recognized. If there has no enough taxable amounts, obtained in future period, to deducted the deferred income
60
tax assets, book value of the deferred income tax assets shall be kept in decreased. (3) the taxable temporary
differences related to the investments of subsidiary companies and associated enterprises shall recognized as
deferred income tax liability, unless the Company can control the time of the reverse of temporary differences and
the temporary differences are unlikely to be reversed in the expected future. As for the deductible temporary
difference related to the investment of the subsidiary companies and associated enterprises, deferred income tax
assets shall be recognized while the temporary differences are likely to be reversed in the expected future and it is
likely to acquire any amount of taxable income tax that may be used for making up the deductible temporary
differences.
(2) Recognition of deferred income tax liability
24. Operating lease, financial leasing
(1) Accounting treatment of operating lease
If, essentially, the Leasing Terms and all risks and remuneration related with ownership of the leased assets are
transfer to the lessee, the leasing will consider as financial leasing, other leasing beside that will consider as
operating lease.
As a lessee, the Company rented office houses and pay the rent monthly, which was included in current expenses
directly.
(2) Accounting treatment of financial leasing
(3) Accounting treatment of f leaseback
25. Assets held for sale
(1) Recognition criteria of assets held for sale
Meet the following requirements simultaneously: the Company has made a resolution for the disposal of such
assets; the Company entered into an irrevocable transfer agreement with the transferee and; the transfer of such
assets will complete in one year.
61
(2) Accounting treatment of assets held for sale
As for the fixed assets held for sale, the net estimative remnant of the capital assets may be adjusted for the
reflection of the remnant to the sum of the fair value less the disposal expenses, without above the limit of the
previous book value of the capital assets as up to the conditions of holding assets on sale; And the difference of
the previous book value above the net estimative remnant adjusted is reckoned into the current loss/gain.
As for the holding of other non-current assets on saleable, they are dealt with on the above principles; they consist
of the single assets and the disposal group; the disposal group is a group of assets which is sold as a whole or
disposed together.
26.Changes in accounting policies and estimates
Whether the accounting policies and estimates changed in reporting period or not
□Yes √No
(1) Changes in accounting policies
Whether the accounting policies changed in reporting period or not
□Yes √No
(2) Changes in accounting estimates
Whether the accounting estimates changed in reporting period or not
□Yes √No
27. Correction of previous errors
Whether the correction of previous errors been found in reporting period or not
□Yes √No
(1) Retrospective restatement
Whether adopted the retrospective restatement on previous errors correction in reporting period or not
□Yes √No
(2) Prospective application
Whether adopted the prospective application on previous errors correction in reporting period or not
□Yes √No
62
V. Taxes
1. Major tax and tax rate:
Taxes Taxation basis Tax rate
Output tax minor the deductible input
VAT 17%, 13%
tax
Business tax Income from leasing 5%
Urban maintenance and construction tax Turnover taxes payable 7%
Corporate income ax Taxable amount 25%
Educational surtax Turnover taxes payable 3%
Local educational surtax Turnover taxes payable 2%
Income tax rate implemented by vary branches and factories
2. Tax preference and approvals
(1) Preferential tax for VAT
Pursuant to the Treasury Tax (1997) No. 64 Notice on Taxation on Import of Fishery Equipment and
Transport-back of Self-fished Fishery Products of Overseas Fishery Industry Corporation, the self-fished fishery
products transported home, is regarded as the non-import domestic products, without taxation of tariff or
added-value taxation in the import link. The corresponding domestic sales are attributable to the primary
agricultural products sales, and free from added-value tax according to the specific rules of added value tax.
(2) Preferential tax for income tax
Pursuant to rules of Treasury Tax [1994] No. 001 , Treasury Tax [1997] No. 114 , Treasury Agriculture [2010] No. 104 , President Order of People’s Republic of China [2007] No. 63 <
Corporate Income Tax Law of People’s Republic of China>, the Company’s income earns from the overseas
fishing business and preliminary process of agricultural products are exempted from corporate income tax.
The Company’s income besides one from the overseas fishing business and preliminary process of agricultural
products will taxed on 25% for the corporate income tax.
The subsidiary – Shandong Zhonglu Overseas (Yantai) Food Co., Ltd—is a foreign investment corporation, is
implemented the tax preference policies of “Two-free, Three-reduction” on according to the original , but has not enjoyed the preference yet because of no profit,
according to the rules of tax preference policies in the transitory period of new , with the
preference period starting from 2008. Applicable tax rate for 2010 was 22%, 24% for 2011 and 25% for 2012. The
rate for corporate income tax of 2012 was executed by 12.5% actually.
63
3. Others
VI. Corporate consolidation and consolidated financial statements
1. Subsidiaries
For the subsidiaries and special purpose entity whose actual control was held by the Company, included in the
range of consolidate financial statement of the Company.
As the Company’s financial statements are prepared pursuant to the Accounting Standards for Business
Enterprises No. 33 – Consolidated Financial Statements and relevant rules, all substantive inside transactions and
dealings within the consolidation scope are balanced out during the consolidation. As for the shareholders’ equity
not attributable to the Parent Company in the subsidiaries, it is specifically listed as the minority shareholders’
equity in the shareholders’ equity.
As for the inconsistency between the subsidiaries and the Company in the accounting policies and periods, the
necessary adjustment is made on the subsidiaries’ financial statements in the preparation of the consolidated
financial statements according to the Company’s accounting policies and periods.
As for the subsidiaries obtained in the consolidation of enterprises not under the same control, the adjustment is
made on the individual financial statements on the basis the fair value of the identifiable assets on the purchase
day. As for the subsidiaries obtained under the same control, the consolidation is regarded as starting at the
Year-beginning of the consolidation period, and the assets, liabilities, operation results and the cash flow are
reckoned into the consolidated financial statements from the year-beginning in the consolidation period.
(1) Subsidiaries obtained from establishment or investment
In RMB
Balance Balance
Amount
of other of
of
items owners’
minority
substant equity
Actual Whether Interest sharehol
Full ially Shareho of
Type of Register investm Voting consolid of ders’
name of Register Busines Busines consisti lding parent
subsidia ed ent at proporti ated the minority equity
subsidia place s nature s scope ng of proporti compan
ry capital period-e on (%) stateme sharehol for
ry net on (%) y for
nd nt or not ders deductin
investm deductin
g
ent in g loss in
loss/gai
subsidia Period
n
ry diluted
64
by
minority
sharehol
ders of
subsidia
ry above
share
enjoyed
in
owners’
equity at
Period-b
eginnin
g
Internati
onal
Shando ocean
ng shipping
Qingdao Cold
Zhonglu Limited , accept
, storage, 22,505, 22,505,
Fishery compan for 100% 100% Yes
Shando transpor 600 600.00
Shippin y carriage
ng tation
g Co., of
Ltd. frozen
aquatic
products
Self-sup
porting
Habitat
Refriger business
Internati Limited
ated 12,476, of 12,476,
onal compan Panama 100% 100% Yes
transpor 146 refrigera 146.00
Corpora y
t ted
tion
transpor
t
Freeze,
Shando cold
ng storage,
Zhonglu process
Limited Yantai , Food
Oceanic 75,593, and 75,593,
compan Shando processi 100% 100% Yes
(Yantai) 300 sales of 300.00
y ng ng
Foods aquatic
Co., products
Ltd. , animal
products
65
and
fruits
and
vegetabl
es etc.
Shando
Offshor
ng
Qingdao e
Zhonglu Limited
, Ocean 54,000, fishing, 54,000, 25,982, -17,829.
Haiyan compan 51.85% 51.85% Yes
Shando fishery 000 ocean-g 000.00 170.06 94
Oceanic y
ng oing
Co.,
fishing
Ltd.
Other explanation on subsidiaries obtained through establishment or investments
(2) Subsidiary obtained through enterprise combination under the same control
In RMB
Balance
of
owners’
equity
of
parent
compan
Balance y for
Amount
of other deductin
of
items g loss in
minority
substant Period
Actual Whether Interest sharehol
Full ially Shareho diluted
Type of Register investm Voting consolid of ders’
name of Register Busines Busines consisti lding by
subsidia ed ent at proporti ated the minority equity
subsidia place s nature s scope ng of proporti minority
ry capital period-e on (%) stateme sharehol for
ry net on (%) sharehol
nd nt or not ders deductin
investm ders of
g
ent in subsidia
loss/gai
subsidia ry above
n
ry share
enjoyed
in
owners’
equity at
Period-b
eginnin
g
66
Other explanation on subsidiaries obtained through enterprise combination under the same control
(3) Subsidiary obtained through enterprise combination under different control
In RMB
Balance
of
owners’
equity
of
parent
compan
Balance y for
Amount
of other deductin
of
items g loss in
minority
substant Period
Actual Whether Interests sharehol
Full ially Shareho diluted
Type of Register investm Voting consolid of ders’
name of Register Busines Busines consisti lding by
subsidia ed ent at proporti ated the minority equity
subsidia place s nature s scope ng of proporti minority
ry capital period-e on (%) stateme sharehol for
ry net on (%) sharehol
nd nt or not ders deductin
investm ders of
g
ent in subsidia
loss/gai
subsidia ry above
n
ry share
enjoyed
in
owners’
equity at
Period-b
eginnin
g
Other explanation on subsidiaries obtained through enterprise combination under different control
2. Operating entity with controlling rights emerge by way of entrust operation or lease from special
purpose entity
In RMB
Major business dealing with Balance of major assets and liabilities recognized in
Name
Company consolidated statement at Period-end
YAW ADDO FISHERIES Balance of assets was RMB 8,526,091.75 while liabilities
Lease management
COMPANY LIMITED was RMB 15,392,464.56
Other explanation on operating entity with controlling rights emerge by way of entrust operation or lease from special purpose entity
67
3. Explanation on changes of the range for consolidation statement
Explanation on changes of the range for consolidation statement
In consolidation statement range, Shandong Zhonglu Haiyan Oceanic Co., Ltd. (“Zhonglu Haiyan”) was increased
till end of 30 June 2013. Zhonglu Haiyan was the enterprise invested jointly by Shandong Zhonglu Oceanic
Fisheries Co., Ltd. (“Zhonglu”) and Shandong State-owned Assets Investment Holdings Co., Ltd. (Shandong
State-owned Assets Investment) with registered capital of RMB 54 million, among which RMB 28 million
invested by Zhonglu, representing 51.85% in registered capital while Shandong State-owned Assets Investment)
representing 48.15% with capital of RMB 26 million invested. In accordance with regulation of the Accounting
Standard for Business Enterprises No.2 – Long term equity investment and Accounting Standard for Business
Enterprises No.33 – Consolidated financial statements, over half of the voting of Zhonglu Haiyan was held by
Zhonglu, which has ability of controlling over Zhonglu Haiyan. The Zhonglu Haiyan shall recognize as the
subsidiary of Zhonglu within the consolidation scope in aspect of consolidate financial statement.
√ Applicable □Not applicable
One unit was increased compare with last year (period) for:
Found more reasons in “Explanation on changes of the range for consolidation statement”
** unit was decreased compare with last year(period) for:
4. Body included/excluded in consolidate statement in reporting period
Subsidiary, special purpose entity and operating entity with controlling rights merge through entrust management or lease that
included in consolidated statement in this period
In RMB
Name Net assets at period-end Current net profit
Shandong Zhonglu Haiyan Oceanic Co., Ltd. 53,962,970.01 -37,029.99
Subsidiary, special purpose entity and operating entity with controlling rights merge through entrust management or lease that
excluded in consolidated statement in this period
In RMB
Net profit from year-begin to date
Name Net assets at date for disposal
of disposal
Explanation on entity newly included in consolidation range and entity excluded
5. Conversion rate of main statement items of overseas operation entity
(1) Conversion method for statement of overseas subsidiary with foreign currency as bookkeeping standard
currency
a. The balance item in the balance sheet is converted on the current rate on the balance sheet day; all equity items
besides the “retained profit” item, all are converted on the actual rate.
b. The income and expense item in the profit statement are converted on the spot rate on the actual transaction
day.
68
c. The conversion difference in the foreign currency financial start is listed specifically as “Converted difference
in foreign currency” in the owners’ equity in the consolidated balance sheet in the preparation of the financial
statement.
(2) Rate of conversion of foreign currency statement in Period
a. The spot exchange rate of US$ : RMB = 1: 6.1787 on the balance sheet day is used for the balance sheet item in
the balance sheet.
b. The spot rate on the actual transaction day is used for the income and expense item in the profit statement.
VII. Notes to main items in consolidated financial statement
1. Monetary fund
In RMB
Closing amount Opening amount
Item In foreign Conversion In foreign Conversion
In RMB In RMB
currency rate currency rate
Cash: -- -- 409,245.00 -- -- 562,927.25
RMB -- -- 185,196.84 -- -- 257,867.93
USD 36,131.03 6.1787 223,242.80 45,754.89 6.2855 287,592.36
EUR 100.00 8.0536 805.36 2,100.00 8.3176 17,466.96
Bank deposit: -- -- 47,978,104.97 -- -- 26,831,911.66
RMB -- -- 42,960,741.76 -- -- 24,537,135.13
USD 790,017.53 6.1787 4,881,281.31 216,986.50 6.2855 1,363,868.65
JPY 1,342,314.00 0.062607 84,038.25 12,007,806.00 0.073049 877,158.22
EUR 6,462.16 8.0536 52,043.65 6,462.16 8.3176 53,749.66
SGD
Other monetary fund: -- -- 866,640.25 -- -- 892,762.55
RMB -- -- 866,640.25 -- -- 892,762.55
Total -- -- 49,253,990.22 -- -- 28,287,601.46
Special statements should be given to the fund of using limitation, disposal aboard and potential risk recovery as mortgage, pledge or
freeze:
Note: closing balance of other monetary fund was RMB 866,640.25, of which LC margin was RMB 866,640.25
2. Account receivable
(1) Category of account receivable
In RMB
Category Closing amount Opening amount
69
Book balance Bad debt provision Book balance Bad debt provision
Proportion Proportion Proportion Proportion
Amount Amount Amount Amount
(%) (%) (%) (%)
Account receivable with bad debt provision accrual by portfolio
Portfolio 1: Accounts with
major single amount 14,000,463. 11,024,97
47.66% 472,912.13 3.38% 49.47% 3,972,162.97 36.03%
without withdrawal bad 40 9.59
debt provision singly
Portfolio 2: Accounts
15,373,759. 6,000,668.1 11,260,46
without major single 52.34% 39.03% 50.53% 2,501,417.26 22.21%
20 0 4.22
amount and major risks
29,374,222. 6,473,580.2 22,285,44
Subtotal 100% 22.04% 100% 6,473,580.23 29.05%
60 3 3.81
29,374,222. 6,473,580.2 22,285,44
Total -- -- -- 6,473,580.23 --
60 3 3.81
Explanation on category of account receivable
Explanation on category of account receivable: Account receivable with major single amount refers to the accounts receivable from
clients with over RMB one million (RMB one million included), the Company will withdrawal the bad debt provision by account age
while no impairment been found in testing. Account receivable of bad debt provision withdrawal by portfolio refers to the account
receivable with major single amount without withdrawal bad debt provision singly and the accounts without major single amount and
major risks, the Company will withdrawal bad debt provision by account age while no impairment been found in testing.
Account receivable with major single amount and withdrawal bad debt provision single at period-end
□Applicable √Not applicable
Account receivable with bad debt provision withdrawal by method of account age in portfolio
√ Applicable □Not applicable
In RMB
Closing amount Opening amount
Book balance Book balance
Account age
Proportion Bad debt provision Proportion( Bad debt provision
Amount Amount
(%) %)
Within one year
Including: -- -- -- -- -- --
Within six months 23,319,634.61 79.39% 748,005.22 16,463,300.06 73.87% 771,249.64
6 months to 1 year 365,569.98 1.24% 36,557.00 133,125.74 0.6% 13,312.58
Within one year 23,685,204.59 80.63% 784,562.22 16,596,425.77 74.47% 784,562.22
Over three years 5,689,018.01 19.37% 5,689,018.01 5,689,018.01 25.53% 5,689,018.01
Total 29,374,222.60 -- 6,473,580.23 22,285,443.81 -- 6,473,580.23
(2Account receivable with bad debt provision withdrawal by method of percentage of balance in portfolio
70
□Applicable √Not applicable
Account receivable withdrawing bad bed provision by other methods in portfolio
□Applicable √Not applicable
Account receivable with minor single amount but has individual bad debt provision accrual at period-end
□Applicable √Not applicable
(2) Top five clients in account receivable
In RMB
Proportion in total
Name Relations with Company Amount Aging
account receivable (%)
PANDA Non-related party 3,600,962.12 Over three years 12.26%
Hong Kong Liantai
Non-related party 3,597,547.95 Within six months 12.25%
Seafood
South Korea SEA SKY Non-related party 3,455,359.46 Within six months 11.76%
Singapore-Zhan Qun Non-related party 2,823,244.79 Within six months 9.61%
Nikko Fishery Co., Non-related party 2,345,100.87 Within six months 7.98%
Total -- 15,822,215.19 -- 53.86%
3. Other account receivable
(1) Category of other account receivable
In RMB
Closing amount Opening amount
Book balance Bad debt provision Book balance Bad debt provision
Category
Proportio Proportio Proportion Proportio
Amount Amount Amount Amount
n (%) n (%) (%) n (%)
Other account receivable with bad debt provision accrual by portfolio
Portfolio 1:Accounts
with major single amount
5,200,000.00 35.59% 210,000.00 4.04% 9,481,620.00 56.73% 4,472,162.00 47.17%
without withdrawal bad
debt provision singly
Portfolio 2:Accounts
without major single 9,411,364.51 64.41% 4,517,106.77 48% 7,232,708.69 43.27% 4,521,430.77 62.51%
amount and major risks
14,611,364.5 16,714,328.6
Subtotal 100% 4,727,106.77 32.35% 100% 8,993,592.77 53.81%
1 9
Total 14,611,364.5 -- 4,727,106.77 -- 16,714,328.6 -- 8,993,592.77 --
71
1 9
Explanation on category of other account receivable
Note: other account receivable with major single amount refers to the other accounts receivable with over RMB one million (RMB
one million included), the Company will withdrawal the bad debt provision by account age while no impairment been found in
testing. Other account receivable of bad debt provision withdrawal by portfolio refers to the other account receivable with major
single amount without withdrawal bad debt provision singly and the accounts without major single amount and major risks, the
Company will withdrawal bad debt provision by account age while no impairment been found in testing.
Other account receivable with major single amount and withdrawal bad debt provision single at period-end
□Applicable √Not applicable
Other account receivable with bad debt provision withdrawal by method of account age in portfolio
√ Applicable □Not applicable
In RMB
Closing amount Opening amount
Book balance Book balance
Account age
Proporti Bad debt provision Proporti Bad debt provision
Amount Amount
on (%) on (%)
Within one year
Including:
Within six months 4,404,539.96 30.15% 74,264.14 7,391,285.00 44.22% 319,564.28
6 months to 1 year 5,904,678.23 40.41% 383,267.31 451,369.80 2.7% 45,136.98
Within one year 10,309,218.19 70.56% 457,531.45 7,842,654.80 46.92% 364,701.26
1-2years 32,571.00 0.22% 341,848.57 2.05% 99,316.19
2-3years 0.00 500.00 250.00
Over three years 4,269,575.32 29.22% 4,269,575.32 8,529,325.32 51.03% 8,529,325.32
Total 14,611,364.51 -- 4,727,106.77 16,714,328.69 -- 8,993,592.77
Other account receivable with bad debt provision withdrawal by method of percentage of balance in portfolio
□Applicable √Not applicable
Withdrawing bad bed provision by other methods in portfolio
□Applicable √Not applicable
Other account receivable with minor single amount but has individual bad debt provision accrual at period-end
□Applicable √Not applicable
(2) Other account receivable switch-back or taken back in reporting period
In RMB
Reason of switch back Determination basis for Amount of bad bed Amount switch back or
Other account receivable
or take back original bad debt provision accrual taken back
72
reserves accumulatively before
switch-back or taken
back
Equity transfer amount owed
Arrears-recovering in Accrual by age of
from Zhongchanjing 4,266,486.00 4,266,486.00
total account receivable
Investment Co., Ltd.
Total -- -- 4,266,486.00 --
Accrual of bad debt provision for other account receivable with major single amount or with minor amount but have impairment test
independently at period
In RMB
Account receivable Book balance Bad debt Accrual proportion (%) Reasons
Explanation on other account receivable with minor single amount but have major risks after combined with risk characteristic of the
credit
(3) Top five clients in other account receivable
In RMB
Proportion in total other
Name Relations with Company Amount Aging
account receivable (%)
Zhoushan Customs
Non-related party 4,200,000.00 6 months to 1 year 28.74%
/margins
Qingdao branch of PICC Non-related party 3,157,237.91 Within six months 21.61%
Shandong Marine Affairs
Non-related party 1,000,000.00 6 months to 1 year 6.84%
Bureau
Japan Daihatsu Non-related party 288,896.39 Over three years 1.98%
Wende Ship Repair
Non-related party 200,000.00 Over three years 1.37%
Company
Total -- 8,846,134.30 -- 60.54%
4. Prepayments
(1) Prepayments listed by account age
In RMB
Closing amount Opening amount
Account age
Amount Proportion (%) Amount Proportion (%)
Within one
13,780,418.36 100% 11,738,461.64 99.44%
year
1-2years 50,779.61 0.43%
73
2-3years 14,985.26 0.13%
Total 13,780,418.36 -- 11,804,226.51 --
Explanation on account age of prepayment
The closing balance of prepayment increased 16.74 compare with opening balance, mainly due to the prepayment of tuna raw
materials purchased by Yantai Foods Company and the common-of-piscary paid in advance by Qingdao Haiwei Branch
(2) Top five clients in prepayment
In RMB
Name Relations with Company Amount Aging Un-settled reasons
Penglai Jinyuan Food Account for raw
Non-related party 4,433,994.00 Within one year
Co., Ltd. materials prepaid
Common-of-piscary in Common-of-piscary
Non-related party 1,187,725.00 Within one year
Kiribati prepaid
Taiwan Far Eastern
Non-related party 1,146,419.00 Within one year Security service prepaid
Company
Common-of-piscary in Common-of-piscary
Non-related party 998,512.02 Within one year
Nauru prepaid
Common-of-piscary in Common-of-piscary
Non-related party 971,254.33 Within one year
Micronesia prepaid
Total -- 8,737,904.35 -- --
Explanation on clients of prepayment
5. Inventory
(1) Category of inventory
In RMB
Closing amount Opening amount
Item Provision for Provision for
Book balance Book value Book balance Book value
price fall-down price fall-down
Raw materials 78,728,597.91 51,082.91 78,677,515.00 66,499,993.74 51,082.91 66,448,910.83
Goods in process 775,653.77 775,653.77
Inventory 124,812,595.83 32,367,450.35 92,445,145.48 60,559,252.98 60,559,252.98
Revolving materials 1,151,249.86 1,151,249.86
Total 204,316,847.51 32,418,533.26 171,898,314.25 128,210,496.58 51,082.91 128,159,413.67
74
(2) Provision for price fall-down
In RMB
Accrual in this Decreased in this period Decrease in
Opening book
Items period Accrual in Period Closing book balance
balance
Period Switch back Written-off
Raw materials 51,082.91 51,082.91
Inventory 32,367,450.35 32,367,450.35
Total 51,082.91 32,367,450.35 32,418,533.26
(3) Provision for price fall-down of inventory
Ratio of amount switch back in
Accrual basis of provision for Reasons of provision for price
Item Period in closing balance of the
price fall-down fall-down switch back in Period
inventory (%)
Measure in accordance of lower
of cost and net realizable value;
net realizable value of the
Inventory
finished goods is the amount
after deducted estimated sales
expenses and relevant taxes
Explanation on inventory
Net value of inventory at period-end increased 34.13% over that of year-beginning mainly because the stock tuna long liners of
Qingdao Haiyan Branch increased. Resulted by the wild actions of Somali pirates in Indian Ocean, vessels and crews are being
threaded; 3 long liners plans to repair on the dock in China, the out-put from tuna long liners in the Period decreased; Furth more,
affected by economic downturn in Japan and sharply depreciation of JP, sales price of tuna long liner was downing all the time, than
majority of the tuna from Qingdao Haiyan Branch was stock for sales. At end of period, according to the sales of similar tuna in
Japan market, the Company estimate the net realizable value of the aforesaid tuna, and ascertained the cost is high than its net
realizable value. According to the principal of “on balance sheet date, inventory shall be measured in accordance of lower of cost and
net realizable value”, the difference of cost and its net realizable value, RMB 32,367,450.35 was accrual as provision for price
fall-down of inventory, and included in current gains/losses.
6. Long term equity investment
(1) Long term equity investment
In RMB
Sharehold Voting Explanati Accrual
Provision
Increase/ ing proportio on on of Cash
Invested Calculatio Investme Opening Closing for
decrease proportio n in inconsiste provision dividend
company n method nt cost balance balance depreciati
change n in invested ncy in for in Period
on
invested company proportio impairme
75
company (%) n between nt in
(%) the Period
sharehold
ing and
voting
South
Cost 33,000,00 33,000,00 33,000,00 33,000,00
Securities 0.87% 0.87%
method 0.00 0.00 0.00 0.00
Co., Ltd.
33,000,00 33,000,00 33,000,00 33,000,00
Total -- -- -- --
0.00 0.00 0.00 0.00
(2) Condition of restriction in aspect of transferring capital to investment enterprises
In RMB
Projects of long term equity investment
Amount of investment loss un-confirmed
that restricted in capital transfer to Restricted reasons
accumulative in this period
investment enterprises
Explanation on long term equity investment
Concerning South Securities Co., Ltd. had been canceled the license for securities business and charged to close
down as the administrative punishment by the CSRC on 29 April 2005, it was announced to be bankrupt by
Shenzhen Intermediate Court, and the proportion for the impairment of the long-term investment has been accrued
on the book value in full sum on the stock in the South Securities Company.
Intermediate People’s Court of Shenzhen, Guangzhou, issued a civil ruling paper ((2006) Shen Zhong Fa Min Qi
Zi No.: 26-246) dated 17 December 2012 as: “1. terminated the bankruptcy procedure of South Securities Co.,
Ltd.; 2. Retain part of the members of bankruptcy liquidation group for the liquidation. The ruling will come into
force as of today.” The civil ruling paper states that “distribution ratio of the bankruptcy assets from bankruptcy
case of South Securities reached to 64%”
7. Investment real estate
(1) Investment real estate measure on cost
In RMB
Item Opening book balance Increase in Period Decrease in Period Closing book balance
I. Total original book
47,120,794.80 47,120,794.80
value
1. House, building 47,120,794.80 47,120,794.80
II. Total accumulative
9,021,228.48 609,332.76 9,630,561.24
depreciation and
76
amortization
1. House, building 9,021,228.48 609,332.76 9,630,561.24
III. Total net book
value of investment 38,099,566.32 -609,332.76 37,490,233.56
real estate
1. House, building 388,099,566.32 -609,332.76 37,490,233.56
IV. Total accumulative
provision for
886,512.06 886,512.06
investment real estate
provision
1. House, building 886,512.06 886,512.06
V. Total book value of
37,213,054.26 -609,332.76 36,603,721.50
investment real estate
1. House, building 37,213,054.26 -609,332.76 36,603,721.50
In RMB
Current
Amount of depreciation and amortization in Period 609,332.76
(2) Investment real estate measure on fair value
In RMB
Increase in Period Decrease in Period
Transfer-in
Gains/losses
Opening fair from Transfer as Closing fair
Item from
value Purchased self-used Disposal self-used value
changes of
property or property
fair value
inventory
Explain the investment real estate with measurement mode changed in reporting period and investment real estate without a property
certificate required. Explain the reasons on un-settle certificate and time expected to completed
In accordance with the “Civil Ruling Paper” (2005) Li Zhi Zi No.: 1299 from People’s Court of Lixia District, Jinan in July 2006, the
comprehensive buildings owned by Shandong Group Corp. of Fisheries Enterprises (totally 7430 M2 including 1/B, 1/F to 3/F and
6/F to 13/F as well as land use right of 1847M2) locates in No. 43, Heping Rd., Lixia District, Jinan City along with the offices
supplies are compensate for the arrears to Shandong Zhonglu Oceanic Fisheries Co., Ltd. As RMB 55,129,673.57 (relevant notice
was published on Securities Times and Hong Kong Wen Wei Po dated 25 July 2006). The aforesaid lands belongs to the allocated
lands without constuction planning permit and has no property certificate hold. The Company still coordinate with local government
in aspect of the property certificates currently.
77
8. Fixed assets
(1) Fixed assets
In RMB
Opening book Closing book
Item Increase in Period Decrease in Period
balance balance
I. Total original book value: 506,760,163.40 6,038,391.63 15,556,074.15 497,242,480.88
Including: House and
63,638,771.10 32,470.00 63,606,301.10
building
Machine equipment 25,662,199.51 3,024,988.09 631,200.00 28,055,987.60
Transportation
5,820,978.59 649,826.11 482,717.52 5,988,087.18
vehicle
Vessels 402,354,380.39 2,231,969.83 14,257,266.07 390,329,084.15
Furniture and office
9,283,833.81 131,607.60 152,420.56 9,263,020.85
appliances
Opening book Increase in
-- Accrual in Period Decrease in Period Closing balance
balance Period
II. Total accumulative
124,440,463.87 12,601,428.88 6,361,248.27 130,680,644.48
depreciation
Including: House and
12,751,618.58 786,512.80 5,428.72 13,532,702.66
building
Machine equipment 9,368,577.16 1,399,323.94 271,709.64 10,496,191.46
Transportation
3,076,128.92 458,984.86 525,992.29 3,009,121.49
vehicle
Vessels 92,404,928.19 9,743,389.88 5,425,986.32 96,722,331.75
Furniture and office
6,839,211.02 213,217.40 132,131.30 6,920,297.12
appliances
Opening book
-- -- Closing balance
balance
III. Total net book value of
382,319,699.53 -- 366,561,836.40
fixed assets
Including: House and
50,887,152.52 -- 50,073,598.44
building
Machine equipment 16,293,622.35 -- 17,559,796.14
Transportation
2,744,849.67 -- 2,978,965.69
vehicle
Vessels 309,949,452.20 -- 293,606,752.40
78
Furniture and office
2,444,622.79 -- 2,342,723.73
appliances
IV. Total provision for
7,571,580.00 -- 0.00
depreciation
Vessels 7,571,580.00 -- 0.00
Furniture and office
--
appliances
V. Total book value of fixed
374,748,119.53 -- 366,561,836.40
assets
Including: House and
52,460,424.88 -- 50,073,598.44
building
Machine equipment 17,196,572.70 -- 17,559,796.14
Transportation
3,357,464.70 -- 2,978,965.69
vehicle
Vessels 189,180,898.55 -- 293,606,752.40
Furniture and office
2,634,436.89 -- 2,342,723.73
appliances
Total RMB 11,686,603.28 depreciated in this period; RMB ** was transfer to fixed assets from project in progress in this period
(2) Fixed assets without property certificate obtained
Item Reasons for certificate un-settled Time expected to completed the certificate
Explanation on fixed assets
1. Fixed assets increased RMB 6,038,391.63 in Period, mainly because machine equipment was purchased by Yantai Foods
Company and the physical investment (vessels and vehicles for business purpose) in Haiyan Branch was consider as the sales
increased;
2. Pledge of fixed assets: In order to obtained the comprehensive credit line of RMB 27 million, the production-used house with
original value of RMB 22,651,704.00, and land use right of 33,333.30 M2 were pledge by subsidiary Zhonglu Oceanic (Yantai)
Foods Co., Ltd. RMB 13,216,727.52 short-term borrowing has received.
3. In accordance with the “Civil Ruling Paper” (2005) Li Zhi Zi No.: 1299 from People’s Court of Lixia District, Jinan in July 2006,
the comprehensive buildings owned by Shandong Group Corp. of Fisheries Enterprises (totally 7430 M2 including 1/B, 1/F to 3/F
and 6/F to 13/F as well as land use right of 1847M2) locates in No. 43, Heping Rd., Lixia District, Jinan City along with the offices
supplies are compensate for the arrears to Shandong Zhonglu Oceanic Fisheries Co., Ltd. As RMB 55,129,673.57 (relevant notice
was published on Securities Times and Hong Kong Wen Wei Po dated 25 July 2006). The aforesaid lands belongs to the allocated
lands without constuction planning permit and has no property certificate hold. The Company still coordinate with local government
in aspect of the property certificates currently.
79
9. Project in progress
(1) Project in progress
In RMB
Closing amount Opening amount
Item Provision for Provision for
Book balance Book value Book balance Book value
depreciation depreciation
Vessels 13,458,238.90 13,458,238.90
Phase III project of the tuna
8,970,193.00 8,970,193.00 1,454,373.00 1,454,373.00
trading center
Total 22,428,431.90 22,428,431.90 1,454,373.00 1,454,373.00
(2) Changes of major project in progress
In RMB
Proportio Accumul
Includin
n of ative
g:
Transfer Other project amount Capitaliz
Opening Increase Work interest Capital Closing
Item Budget to fixed decreasi investme of ing rate
amount in Period progress capitaliz resources amount
assets ng nt in interest (%)
ation in
budget capitaliz
Period
(%) ation
Bank
loans,
13,458,2 13,458,2
Vessels self-own
38.90 38.90
ed
capital
Phase III
project
of the 1,454,37 7,515,82 8,970,19
tuna 3.00 0.00 3.00
trading
center
1,454,37 20,974,0 22,428,4
Total -- -- -- --
3.00 58.90 31.90
Explanation on changes of project in progress
1. With purpose of maintain a certained scale of the operation vessels of the Company and echelon structure of the
vessel age, the Company entered into a purchasing agreement for one ocean tuna long liner with total investment
of RMB 18 million. RMB 13,458,238.90 was paid for purchasing and other charges till end of this Period.
2. The main construction of Phase III project of Zhonglu (Yantai) Food Co., Ltd. was completed currently, and the
80
project still in last stage of construction; accomplish follow-up investment of RMB 7,515,820.00 in this period.
10. Disposal of fixed assets
In RMB
Item Opening book value Closing book value Reasons for transfer-in
”Taifu 102” 32,504,063.30 Vessels sunk
Total 32,504,063.30 --
Progress of disposal of fixed assets with over one year started transfer-in
On 16 May 2012, the “Taifu 102” was sunk along with the netting gear while good transshipment approach
completed in anchorage in Rabaul Port. The vessels was originally value RMB 64,274,978.63, accumulative
depreciation was RMB 35,479,417.36 and net value was RMB 28,795,561.27; original value for the netting gear
was RMB 3,829,778.35, accumulative depreciation was RMB 121,276.32 and net value was RMB 3,708,502.03.
As till end of 30 June 2013, the insurance claims with PICC for the vessel was completed, US$ 5.48 million claim
was received in March of 2013 and the assets disposal of the vessel was completed.
11. Intangible assets
(1) Intangible assets
In RMB
Item Opening book balance Increase in Period Decrease in Period Closing book balance
I. Total original book value 10,164,557.00 10,164,557.00
Land use right of Yantai
9,929,529.00 9,929,529.00
Foods
Other 235,028.00 235,028.00
II. Total amount of
2,945,674.52 134,855.22 3,080,529.74
accumulated amortization
Land use right of Yantai
2,742,436.40 118,208.52 2,860,644.92
Foods
Other 203,238.12 16,646.70 219,884.82
III. Total net book value of
7,218,882.48 -134,855.22 7,084,027.26
intangible assets
Land use right of Yantai
7,187,092.60 -118,208.52 7,068,884.08
Foods
Other 31,789.88 -16,646.70 15,143.18
Land use right of Yantai
Foods
Other
81
Total book value of
7,218,882.48 -134,855.22 7,084,027.26
intangible assets
Land use right of Yantai
7,187,092.60 -118,208.52 7,068,884.08
Foods
Other 31,789.88 -16,646.70 15,143.18
RMB 134,855.22 amortized in Period
12. Long-term deferred expenditure
In RMB
Amortized in Reasons of other
Item Opening amount Increase in Period Other decreased Closing amount
Period decreased
Improvement
expenditure of
81,778.00 81,778.00
rent-in fixed
assets
Total 81,778.00 81,778.00 --
Explanation on long-term deferred expenditure
The Improvement expenditure (decoration costs) of rent-in fixed assets from Shandong Zhonglu Fishery Shipping Co., Ltd.,
amortized in 3 years after construction completed.
13. Deferred income tax asset and deferred income tax liability
(1) Amount of deferred income tax asset and deferred income tax liability before trade-off
Deferred income tax asset and deferred income tax liability ascertained
In RMB
Item Closing amount Opening amount
Deferred income tax asset:
Start-up costs 205,685.00 205,685.00
Subtotal 205,685.00 205,685.00
Deferred income tax liability:
Deferred income tax asset without confirmed
In RMB
Closing amount Opening amount
Deductible losses of deferred income tax asset without confirmed will expired in later year
In RMB
Year Closing amount Opening amount Note
Taxable difference and deductible difference
82
In RMB
Amount of temporary differences
Item
Period-end Period-begin
Taxable difference
Deductible difference
(2) Amount of deferred income tax asset and deferred income tax liability after trade-off
Composition of deferred income tax asset and liabilities after trade-off
In RMB
Deductible or taxable Deductible or taxable
Deferred income tax Deferred income tax
temporary temporary
asset or liability after asset or liability after
Item differences after differences after
trade-off at trade-off at
trade-off at trade-off at period-
period-end period-begin
period-end begin
Deferred income tax asset 205,685.00 205,685.00
Trade-off between the deferred income tax asset and deferred income tax liability
In RMB
Item Amount trade-off in Period
Explanation on deferred income tax asset and deferred income tax liability
14. Impairment of assets
In RMB
Opening book Decrease in Period Closing book
Item Increase in Period
balance Switch-back Written-off balance
I. Bad debt provision 15,467,173.00 4,266,486.00 11,200,687.00
II. Provision for price
51,082.91 32,367,450.35 32,418,533.26
fall-down of inventory
V. Provision for depreciation
of long term equity 33,000,000.00 33,000,000.00
investment
VI. Provision for depreciation
886,512.06 886,512.06
of investment real estate
VII. Provision for
7,571,580.00 7,571,580.00 0.00
depreciation of fixed assets
Total 56,976,347.97 32,367,450.35 4,266,486.00 7,571,580.00 77,505,732.32
Explanation on provision for depreciation of assets
83
15. Short-term borrowing
(1) Short-term borrowing
In RMB
Item Closing amount Opening amount
Mortgage loan 13,216,727.52 12,676,887.96
Credit loan 20,885,235.02 20,000,000.00
Total 34,101,962.54 32,676,887.96
Explanation on category of short-term borrowing
In order to obtained the comprehensive credit line of RMB 27 million, the production-used house with original value of RMB
22,651,704.00, and land use right of 33,333.30 M2 were pledge by subsidiary Zhonglu Oceanic (Yantai) Foods Co., Ltd. RMB
13,216,727.52 short-term borrowing has received.
16. Account payable
(1) Account payable
In RMB
Item Closing amount Opening amount
Within one year 61,815,498.63 39,830,312.81
1-2 years 0.00
2-3 years 0.00
Over three years 4,258,033.37 4,258,033.37
Total 66,073,532.00 44,088,346.18
(2) Explanation on major account payable over one year
There are no major acount payables with over one year
17. Account received in advance
(1) Account received in advance
In RMB
Item Closing amount Opening amount
Within 1 year 4,251,206.73 2,074,042.23
1-2 years 0.00
2-3 years 0.00
84
Over three years 349,863.72 349,863.72
Total 4,601,070.45 2,423,905.95
18. Salary payable
In RMB
Item Opening book balance Increase in Period Decrease in Period Closing book balance
I. Salary, bonus,
allowance and 10,349,436.93 23,273,648.81 23,220,115.87 10,402,969.87
subsidy
II. Employee
1,506,186.06 1,506,186.06
Welfare expenses
III. Social insurance 4,300,613.07 4,300,613.07
Including: 1.
1,214,455.52 1,214,455.52
Medical insurance
2. Basic pension
2,577,383.09 2,577,383.09
insurance
3. Unemployment
231,544.18 231,544.18
insurance
4. Injury insurance 140,992.81 140,992.81
5. Maternity
136,237.47 136,237.47
insurance
IV. Housing
873,183.00 873,183.00
accumulation fund
V. Dismissal welfare 197,360.00 163,680.00 33,680.00
VI. Other 893,484.79 515,360.11 371,062.82 1,037,782.08
Fund of labor union
893,484.79 515,360.11 371,062.82 1,037,782.08
and education
Total 11,440,281.72 30,468,991.05 30,434,840.82 11,474,431.95
RMB ** was defaulted in salary payable
Fund of labor union and education was RMB 371,062.82, non-monetary welfare was RMB **, and compensation due to labor
relationship terminated was RMB 163,680.00.
Note: Closing balance of salary payable mainly was the bonus for year of 2012 and salary of June 2013 for employees which was
accrual but not give out.
19. Tax payable
In RMB
85
Item Closing amount Opening amount
VAT -10,047,436.29 -9,986,506.96
Business tax 36,548.11 79,158.55
Corporate income tax -70,736.34 299,260.41
Individual income tax 34,249.09 42,904.53
Urban maintenance and construction tax 2,706.68 5,890.75
House property tax 210,470.33 201,470.33
Land use tax 82,750.00 82,750.00
Educational surtax 1,933.35 4,162.68
Other 19,062.31 22,949.86
Total -9,730,452.76 -9,247,959.85
Taxes payable, that the tax authorities agreed to the branch companies, subsidiaries of taxable income between mutual dispensing,
and shall explain tax calculation process:
20. Interest payable
In RMB
Item Closing amount Opening amount
Installment and interest due repayment of principal
68,053.16
long-term loan interest
Short-term borrowing interest payable 33,333.34
Total 101,386.50
Explanation on interest payable
21. Dividends payable
In RMB
Name Closing amount Opening amount Reasons for unpaid over one year
Luyin Investment Group Co., Ltd. 45,109.80 45,109.80
Shandong Airlines Co., Ltd. 32,110.00 32,110.00
CNHTC Jinan Truck Co., Ltd. 350,000.00 350,000.00
Shandong Detai Decorating Co., Ltd. 32,110.00 32,110.00
Total 459,329.80 459,329.80 --
Explanation on dividends payable
86
22. Other account payable
(1) Other account payable
In RMB
Item Closing amount Opening amount
Within one year 5,474,400.04 18,616,754.54
1-2 years 973,352.19 3,676,262.14
2-3 years 294,609.98 869,961.68
Over three years 4,582,310.90 1,375,973.43
Total 11,324,673.11 24,538,951.79
23. Non-current liabilities due within one year
(1) Non-current liabilities due within one year
In RMB
Item Closing amount Opening amount
Long-term loans due within one year 7,697,777.78 7,697,777.78
Total 7,697,777.78 7,697,777.78
(2) Long-term loans due within one year
Long-term loans due within one year
In RMB
Item Closing amount Opening amount
Credit loan 7,697,777.78 7,697,777.78
Total 7,697,777.78 7,697,777.78
Amount of RMB ** was extended due to overdue in long-term loans due within one year
Top five long-term loans due within one year
In RMB
Closing amount Opening amount
Loans dated
Company Loans ended Currency Rate (%) In foreign In foreign
from In RMB In RMB
currency currency
Jinan Lixia
Branch of 2012-10-31 2015-10-30 RMB 7.07% 7,697,777.78 7,697,777.78
ICBC
Total -- -- -- -- -- 7,697,777.78 -- 7,697,777.78
Overdue loans in long-term loans due within one year
87
In RMB
Reasons for Expected
Company Amount loans Overdue time Annual rate (%) Purpose of loans
overdue payment date
Amount RMB ** was paid after balance sheet date
Explanation on long-term loans due within one year:
Note: On 11 June 2012, the Company entered into a loan agreement with Jinan Lixia Branch of ICBC for loan of RMB
58,000,000.00. The loan terms from 31 October 2012 to 30 October 2015, RMB 34,640,000.00 was drawing in the Period actually.
The principal RMB 7,697,777.78 paid in 2013 was listed under the item of “Non-current liabilities due within one year”
24. Long-term loans
(1) Long-term loans
In RMB
Item Closing amount Opening amount
Credit loan 34,542,222.22 26,942,222.22
Total 34,542,222.22 26,942,222.22
Explanation on long-term loans
1. On 11 June 2012, the Company entered into a loans agreement with Jinan Lixia Branch of ICBC for borrowing RMB
58,000,000.00 dated from 31 October 2012 to 30 October 2015. Actually RMB 34,640,000.00 loans were withdrawal in the Period.
The principal of loans RMB 7,697,777.78 payable was listed under the “Non-current liabilities due within one year”
2. On 3 April 2013, the Company entered into a loans agreement with Jinan Lixia Branch of ICBC for borrowing RMB
10,000,000.00 dated from 8 April 2013 to 1 April 2016. And actually RMB 7,600,000.00 loans were withdrawal in the Period.
(2) Top five long-term loans
In RMB
Closing amount Opening amount
Loans dated
Company Loans ended Currency Rate (%) In foreign In foreign
from In RMB In RMB
currency currency
Jinan Lixia
26,942,222.2 26,942,222.2
Branch of 2012-10-31 2015-10-30 RMB 7.07%
2 2
ICBC
Jinan Lixia
Branch of 2013-04-08 2016-04-01 RMB 6.77% 7,600,000.00
ICBC
34,542,222.2 26,942,222.2
Total -- -- -- -- -- --
2 2
Explanation on long-term loans: explain the condition of extension, principal, interest and arrangement for payment for those
long-term loans merge from overdue loans which were extended.
88
25. Other non-current liability
In RMB
Item Closing book balance Opening book balance
Fuel subsidies 21,771,200.00
Construction special funds 13,600,000.00 6,800,000.00
Total 13,600,000.00 28,571,200.00
Explanation on other non-current liability, including vary government subsidies with assets and income concerned obtained in
reporting period as well as the amount at period-end
In accordance with the notice of construction special funds plans as 2nd RMB 800 million “Two districts” of 2011 and 2nd of 2011
Shandong peninsula blue economic development districts and Yellow River Delta Efficient Ecological Economic Districts, that is
Yan Fa Gai Tou Zi [2011] No. 464 issued from Yantai Development and Reform Commission and Yantai Municipal Finance Bureau,
the Company obtained construction special funds with assets concerned RMB 6,800,000.00 in reporting period.
26. Share capital
In RMB
Changes in the Period (+,-)
Opening Shares transfer Closing
Issuing new
amount Bonus shares from public Other Subtotal amount
shares
reserves
Total shares 266,071,320.00 266,071,320.00
Explanation on changes of share capital:
Name of CPA, who has verified the capital, and verification report serial shall be disclosed while the capital was increased or
decreased in the reporting period; as for the incorporated company operated within three years, net assets of the year before
establishment should be explained; if the limited liability company change to incorporated company totally, the verification while
establishment shall be explained
27. Capital surplus
In RMB
Item Opening amount Increase in Period Decrease in Period Closing amount
Capital premium (equity
186,283,711.00 186,283,711.00
premium)
Other Capital surplus 94,961,504.96 94,961,504.96
Total 281,245,215.96 281,245,215.96
Explanation on capital surplus
89
28. Surplus reserve
In RMB
Item Opening amount Increase in Period Decrease in Period Closing amount
Statutory Surplus reserve 21,908,064.19 21,908,064.19
Total 21,908,064.19 21,908,064.19
Explanation on surplus reserve: explain relevant reference while there have equity increased from surplus reserves, make-up losses
and dividend distribution
29. Retained profit
In RMB
Proportion of withdrawal or
Item Amount
distribution
Retained profit of end of last year before
-93,413,762.00 --
adjustment
Retained profit of year-begin after adjustment -93,413,762.00 --
Add: Net profit attribute to owners of parent
23,102,972.94 --
company
Retained profit at period-end -70,310,789.06 --
Adjustment of retained profit at year-begin:
1) Retained profit RMB ** at beginning of the year was affected by the retroactive adjustment regulated in rules and Accounting
Standards for Business Enterprise;
2) Retained profit RMB ** at beginning of the year was affected by the changes of accounting policy;
3) Retained profit RMB ** at beginning of the year was affected by the major correction on accounting errors;
4) Retained profit RMB ** at beginning of the year was affected by the consolidation scope changed under the same control;
5) Retained profit RMB ** at beginning of the year was affected by the total other adjustment
Explanation on retained profit:
As for the enterprises initial public offering the securities, if the accumulated profits before offering are been approved to be share by
new and old shareholders in the shareholders’ general meeting, the explanation shall be state; if the accumulated profit before
offering are been approved to be share by old shareholders only before offering in the shareholders’ general meting, the audit profit in
dividend payables that should be share by the old shareholders shall be disclosed.
30. Operating revenue, operating cost
(1) Operating revenue, operating cost
In RMB
Item Current amount Amount of the period before
Main operating revenue 260,988,876.37 247,589,887.87
90
Other revenue 3,739,483.85 3,310,206.16
Operating cost Operating cost 219,741,407.16 218,874,259.05
(2) Main business (by industries)
In RMB
Current amount Amount of the period before
Industries
Operating revenue Operating cost Operating revenue Operating cost
Oceanic fishing and re-processing 74,020,865.36 51,153,852.24 79,469,478.83 67,000,613.37
Management and rental of
39,743,558.52 30,632,659.79 33,889,343.62 25,813,516.53
refrigerated transport vessels
Seafood processing, cold storage
147,224,452.49 137,175,578.42 134,231,065.42 125,119,665.33
and other
Total 260,988,876.37 218,962,090.45 247,589,887.87 217,933,795.23
(3) Main business (by products)
In RMB
Current amount Amount of the period before
Products
Operating revenue Operating cost Operating revenue Operating cost
Tuna 74,020,865.36 51,153,852.24 79,469,478.83 67,000,613.37
Vessels rental 39,743,558.52 30,632,659.79 33,889,343.62 25,813,516.53
Seafood processing, cold storage
147,224,452.49 137,175,578.42 134,231,065.42 125,119,665.33
charge
Total 260,988,876.37 218,962,090.45 247,589,887.87 217,933,795.23
(4) Main business (regions)
In RMB
Current amount Amount of the period before
Regions
Operating revenue Operating cost Operating revenue Operating cost
Mainland China 70,125,569.27 61,224,936.88 45,560,040.48 33,518,936.51
Taiwan China 73,341,550.52 48,151,686.19 49,389,849.01 38,073,465.57
Hong Kong China 11,581,030.32 10,801,572.70
Japan 75,549,131.86 70,464,321.21 102,292,151.80 98,401,777.04
Singapore 7,679,886.56 7,162,994.20 17,454,830.61 16,744,419.00
Ghana 5,922,454.23 5,497,321.11 6,537,224.74 5,922,602.54
91
South Korea 16,789,253.61 15,659,258.16 26,355,791.23 25,272,594.57
Total 260,988,876.37 218,962,090.45 247,589,887.87 217,933,795.23
(5) Top five clients in operating revenue
In RMB
Proportion in total operating revenue of the Company
Clients Revenue from main business
(%)
No.1 Fengqun Fishery Co., Ltd. 73,341,550.52 27.7%
No.2 Ningbo Fengsheng Seafood
30,508,182.67 11.53%
Co., Ltd.
No.3 Japan San Narita 26,855,322.20 10.15%
No.4 WEC FOODS
18,986,547.53 7.17%
CORPORATION
No.5 BFC JAPAN CO.LTD 18,135,993.55 6.85%
Total 167,827,596.47 63.4%
Explanation on operating revenue
31. Business tax and surcharge
In RMB
Amount of the period
Item Current amount Taxation basis
before
Business tax 360,209.02 125,064.20 3% or 5% of the rental income
Urban maintenance and construction
24,918.01 68,137.15 7% of amount of turnover tax paid
tax
Educational surtax 17,798.59 48,669.39 5% of amount of turnover tax paid
House property tax 132,465.47 135,960.00 House area
Other 17,798.21 24,001.48
Total 553,189.30 401,832.22 --
Explanation on business tax and surcharge
32. Sales expenses
In RMB
Item Current amount Amount of the period before
Payroll payable 430,724.97 255,821.99
Depreciation cost 16,777.50 18,892.69
92
Travelling charge 140,057.56 59,023.77
Entertainment expenses 81,280.50
Freight and miscellaneous charges 456,934.13 384,439.67
Port surcharge 915,375.64 882,728.45
Communication expenses 12,447.43 17,664.98
Agency fee 55,585.71 25,514.19
Business publicity expenses 18,800.00 57,700.00
Customs censoring charges 104,201.39 105,417.00
Other 11,400.00 24,976.47
Total 2,162,304.33 1,913,459.71
33. Administrative expenses
In RMB
Item Current amount Amount of the period before
Payroll payable 8,108,131.68 11,710,177.15
Travelling charge 402,232.49 282,834.32
Entertainment expenses 787,815.99 698,307.07
Office allowance 215,231.09 152,914.45
Depreciation cost 762,431.65 705,229.86
Repair charge 86,168.10 72,826.18
Conference expenses 39,284.50 90,456.00
Amortization of low-value consumption 12,638.00 6,300.50
Personnel education fund 127,930.88 145,890.56
Expenses-type taxes 420,288.64 379,707.70
Agency fee 625,473.70 517,246.40
Vehicles charge (operating expenses) 286,423.18 238,046.59
Disclosure expenses 190,000.00 194,883.40
Utilities 94,442.82 74,662.61
Amortization of intangible assets 134,855.22 135,595.22
Post and communication charge 177,610.57 193,130.91
Expenses of labor protection appliance 151,758.30 9,500.00
Abroad charges 138,547.40 80,433.50
Leasing expenses 485,387.17 356,873.42
Premium 119,286.95 99,447.25
93
Publicity expenses 99,900.00 134,340.00
Other 255,852.92 251,616.94
Total 13,721,691.25 16,530,420.03
34. Financial expenses
In RMB
Item Current amount Amount of the period before
Interest costs 2,122,987.11 591,719.89
Interest income -3,503,459.03 -130,445.04
Exchange loss 1,856,838.69 202,707.51
Exchange gains -567,204.26 -203,149.91
Service fee expense 335,232.11 151,488.05
Total 244,394.62 612,320.50
35. Asset impairment losses
In RMB
Item Current amount Amount of the period before
I. Bad debt losses -4,266,486.00 -332,079.07
II. Inventory falling price loss 32,367,450.35
Total 28,100,964.35 -332,079.07
36. Non-operating revenue
(1) Non-operating revenue
In RMB
Amount reckoned in current
Item Current amount Amount of the period before
non-recurring gains/losses
Total income from disposal of non-current
1,474,592.70 1,474,592.70
assets
Including: income from disposal of fixed
1,474,592.70 1,474,592.70
assets
Government subsidies 21,771,200.00 22,401,200.00
Other 46,408.22 1,039,813.97 46,408.22
Total 23,292,200.92 23,441,013.97 1,521,000.92
94
(2) Government subsidy
In RMB
Amount of the period
Item Current amount Note
before
Fuel subsidies 21,771,200.00 21,771,200.00 Note: 1
Finance discount 600,000.00
30,000.00
Total 21,771,200.00 22,401,200.00 --
Explanation on non-operating revenue
Note: 1. In accordance with the document from Shandong Finance Department Lu Cai Jian Zhi [2012] No.: 54 (issued on 11 May
2012): “Notice of Badget Index of Fiscal Subsidies Allocated in Advance for Year of 12012 for Reform of Refined Oil Price” and
attached “Allocation Table of Badget Index of Fiscal Subsidies for Reform of Refined Oil Price for year of 2012”, the fuel subsidies
RMB 21,771,200.00 for year of 2012 allocated in advance was received by the Company on 13 June 2012. In line with the “Notice
of Liquidation Fund of Fiscal Subsidies for Refine Oil Price of 2012” carried out from Ministry of Finance, the fule subsidiay which
was received actually was reckoned into the income for first half year of 2013.
37. Non-operating expenditure
In RMB
Amount reckoned in
Amount of the period
Item Current amount current non-recurring
before
gains/losses
Total income from disposal of non-current assets 383,366.53 4,779,798.56
Including: losses from disposal of fixed assets 383,366.53 4,779,798.56 383,366.53
Other 4,491,750.18
Total 383,366.53 9,271,548.74 383,366.53
Explanation on non-operating expenditure
Losses from disposal of fixed assets mainly due to the expenditure RMB 344,533.53 used facilities sort out
38. Income tax expenses
In RMB
Item Current amount Amount of the period before
Current income taxes that calculated based on taxation laws
28,100.00 660,166.07
and relevant regulations
Total 28,100.00 660,166.07
95
39. Calculation of basic Earnings per share (EPS) and diluted Earnings per share (EPS)
Item Code Current amount Amount of the
period before
Net profit attributable to common shareholders of the Company (Ⅰ) P0 23,102,972.94 26,409,180.75
Net profit attributable to common shareholders of the Company P0 21,965,338.55 34,610,915.52
after deducting non-recurring gains and losses (Ⅱ)
Total shares at period-begin S0 266,071,320.00 266,071,320.00
Amount of shares increase from public reserve capitalizing or share S1
dividend distribution
Amount of shares increase from newly issuing shares or shares Si
transfer from debt
Amount of shares decrease from repurchased in report period Sj
Reducing shares in report period Sk
Amount of months in report period M0 6 6
Accumulated months from next month of share increased to Mi
period-end
Accumulated months from next month of share decreased to Mj
period-end
Weighted average of common shares issuing outside S 266,071,320.00 266,071,320.00
Basic earnings per share(EPS) (Ⅰ) 0.10
0.09
Basic earnings per share(EPS) (Ⅱ) 0.13
0.08
Current net profit attributable to common shareholders after P1 23,102,972.94 24,609,180.75
adjustment (Ⅰ)
Current net profit attributable to common shareholders after P1 21,965,338.55 34,610,915.52
adjustment without non-recurring gains and losses (Ⅱ)
Weighted average of common shares increased by warrants, stock
option and convertible bonds etc.
Diluted weighted average of common shares issuing outside 266,071,320.00 266,071,320.00
Diluted earnings per share(EPS) (Ⅰ) 0.09 0.10
Diluted earnings per share (EPS) (Ⅱ) 0.08 0.13
40. Other consolidated income
In RMB
96
Item Current amount Amount of the period before
1. Amount of gains (loss) arising from financial assets available
33,737.59
for sale
Subtotal 33,737.59
4. Translation differences of foreign financial sheet 624,046.25 462,193.65
Subtotal 624,046.25 462,193.65
Total 624,046.25 495,931.24
Explanation on other consolidated income
41. Notes of cash flow statement
(1) Other cash received related to operating activities
In RMB
Item Amount
Interest income 3,503,459.03
Government subsidies
Current account 22,933,544.23
Other 1,548,520.66
Total 27,985,523.92
Explanation on other cash received related to operating activities
(2) Other cash paid related to operating activities
In RMB
Item Amount
Current account paid 34,348,814.83
Sales expenses paid in cash 2,145,476.70
Administrative expenses paid in cash 5,928,461.89
Total 42,422,753.42
Explanation on other cash paid related to operating activities
(3) Other cash received related to investment activities
In RMB
Item Amount
Insurance indemnity received 33,974,356.00
97
Total 33,974,356.00
Explanation on other cash received related to investment activities
(4) Other cash paid related to investment activities
In RMB
Item Amount
Explanation on other cash paid related to investment activities
(5) Other cash received related to financing activities
In RMB
Item Amount
Explanation on other cash received related to financing activities
(6) Other cash paid related to financing activities
In RMB
Item Amount
Explanation on other cash paid related to financing activities
42. Supplementary information of cash flow statement
(1) Supplementary information of cash flow statement
In RMB
Supplementary information Current Amount Amount of the Previous Period
1. Reconciliation of net profit to cash flows from operating
-- --
activities:
Net profit 23,085,143.00 26,409,180.75
Add: Provision for impairment of assets 28,100,964.35 -332,079.07
Depreciation of fixed assets, oil assets and productive
11,686,603.28 11,365,741.09
biological assets
Amortization of intangible assets 134,855.22 134,855.22
Losses on disposal of fixed assets, intangible assets and
383,366.53
other long-term assets (income is listed with “- ”)
Losses on scrapping of fixed assets(income is listed with
-1,474,592.70 4,779,798.56
“- ”)
98
Financial expenses(income is listed with “- ”) 2,122,987.11 603,922.77
Decrease in inventories(increase is listed with “-”) -76,106,350.93 30,209,176.48
Decrease in operating receivables(increase is listed with
-15,494,978.46 -22,700,176.51
“-”)
Increase in operating payables(decrease is listed with “- ”) 6,646,905.40 -8,309,100.48
Net cash flows arising from operating activities -20,915,097.21 42,161,318.81
2. Significant investing and financing activities that do not
-- --
involve cash receipts and payments
3. Net changes in cash and cash equivalents -- --
Cash at the end of the year 49,253,990.22 93,146,168.46
Less: Cash at the beginning of the period 28,287,601.46 65,716,267.14
Net increase in cash and cash equivalents 20,966,388.76 27,429,901.32
(2) Composition of cash and cash equivalents
In RMB
Item Closing amount Opening amount
I. Cash 49,253,990.22 28,287,601.46
Including: Cash on hand 409,245.00 562,927.25
Bank deposit paid at any time 47,978,104.97 26,831,911.66
Other monetary funds paid at any time 866,640.25 892,762.55
III. Cash and cash equivalents a period-end 49,253,990.22 28,287,601.46
Explanation on supplementary information of cash flow statement
VIII. Related parties and related transaction
1. Parent company of the enterprise
Shareholdi Voting
ng right
proportion proportion Ultimate Code of
Related Legal
Parent Type of Register Business Registered of parent of parent controller organizati
relationshi representat
company enterprise place nature capital company company of the on
p ive
in the in the Company institution
Company Company
(%) (%)
Shandong Controllin State-owne Investment Shandong
Jinan Li 1,600,000, 16307316-
State-owne g d and 33.07% 33.07% State-owne
Shandong Guangqing 000.00 7
d Assets shareholde enterprise manageme d Assets
99
Investment r nt, Investment
Holdings manageme Holdings
Co., Ltd. nt and Co., Ltd.
operation
of assets,
managed
operations,
investment
advisory
Explanation on parent company of the enterprise
2. Subsidiary of the enterprise
Full name Legal Shareholdin Voting Code of
Type of Type of Register Business Registered
of representati g proportion proportion organization
subsidiary enterprise place nature capital
subsidiary ve (%) (%) institution
Shandong
Zhonglu
Controlling Limited Qingdao Refrigerated 22,5056,00.
Fishery Wang Huan 100% 100% 163071233
subsidiary company Shandong transport 00
Shipping
Co., Ltd.
Habitat
Internationa Controlling Limited Refrigerated 12,476,146.
Panama Li Wenyi 100% 100%
l subsidiary company transport 00
Corporation
Shandong
Zhonglu
Oceanic Controlling Limited Yantai Food 75,593,300.
Li Ming 100% 100% 729277389
(Yantai) subsidiary company Shandong processing 00
Foods Co.,
Ltd.
Shandong
Zhonglu
Controlling Limited Qingdao Chi Ocean 54,000,000.
Haiyan 51.85% 51.85% 05341864-6
subsidiary company Shandong Weizhen fishery 00
Oceanic
Co., Ltd.
3. Other related party of the Company
Other related party Relations with Company Organization code
Luxin Investment Holding Company
Shareholders with over 5% shares held 73577367-X
Limited
100
Explanation on other related party of the Company
4. Account receivable/payable of related parties
Account receivable from related party
In RMB
Period-end Period-begin
Item Related party
Book balance Bad debt provision Book balance Bad debt provision
Shandong Zhonglu
Account receivable Oceanic (Yantai) 12,358,600.06 18,849,330.00
Foods Co., Ltd.
YAW ADDO
FISHERIES
Other account receivable 6,122,866.55 6,228,701.46
COMPANY
LIMITED
Shandong Zhonglu
Other account receivable Fishery Shipping Co., 24,714,718.67 24,714,718.67
Ltd.
YAW ADDO
FISHERIES
Long-term receivables 7,051,496.61 5,800,810.98
COMPANY
LIMITED
Account payable to related party
In RMB
Item Related party Closing amount Opening amount
Shandong Zhonglu Haiyan
Other payables 26,799,669.84 1,454,000.00
Oceanic Co., Ltd.
Habitat International
Other payables 9,685,952.82 7,081,380.40
Corporation
IX. Notes to main items in financial statement of parent company
1. Account receivable
(1) Account receivable
In RMB
Closing amount Opening amount
Category Book balance Bad debt provision Book balance Bad debt provision
Amount Propo Amount Proporti Amount Proporti Amount Proporti
101
rtion on (%) on (%) on (%)
(%)
Account receivable with bad debt provision accrual by portfolio
Portfolio 1:Accounts with
major single amount 98.33
17,746,938.87 5,388,338.81 30.36% 22,450,292.12 91.49% 3,600,962.12 16.04%
without withdrawal bad %
debt provision singly
Portfolio 2:Accounts
without major single 302,154.28 300,826.71 99.56% 2,089,530.97 8.51% 2,088,203.40 99.94%
amount and major risks
Subtotal 18,049,093.15 1.67% 5,689,165.52 31.52% 24,539,823.09 100% 5,689,165.52 23.18%
Total 18,049,093.15 -- 5,689,165.52 -- 24,539,823.09 -- 5,689,165.52 --
Explanation on category of account receivable
Account receivable with major single amount refers to the accounts receivable from clients with over RMB one
million (RMB one million included), the Company will withdrawal the bad debt provision by account age while
no impairment been found in testing. Account receivable of bad debt provision withdrawal by portfolio refers to
the account receivable with major single amount without withdrawal bad debt provision singly and the accounts
without major single amount and major risks, the Company will withdrawal bad debt provision by account age
while no impairment been found in testing.
Account receivable with major single amount and withdrawal bad debt provision single at period-end
□Applicable √Not applicable
Account receivable with bad debt provision withdrawal by method of account age in portfolio
√ Applicable □Not applicable
In RMB
Closing amount Opening amount
Book balance Book balance
Account age
Proporti Bad debt provision Proporti Bad debt provision
Amount Amount
on (%) on (%)
Within one year
Including: -- -- -- -- -- --
Within six
12,358,600.06 68.47% 18,849,330.00 76.81%
months
6 months to 1
1,475.08 0.01% 147.51 1,475.08 0.01% 147.51
year
Subtotal
within one 12,360,075.14 68.48% 147.51 18,850,805.08 76.82% 147.51
year
Over three 5,689,018.01 31.52% 5,689,018.01 5,689,018.01 23.18% 5,689,018.01
102
years
Over five
5,689,018.01 5,689,018.01 5,689,018.01 23.18% 5,689,018.01
years
Total 18,049,093.15 -- 5,689,165.52 24,539,823.09 -- 5,689,165.52
Account receivable with bad debt provision withdrawal by method of percentage of balance in portfolio
□Applicable √Not applicable
Account receivable withdrawing bad bed provision by other methods in portfolio
□Applicable √Not applicable
Account receivable with minor single amount but has individual bad debt provision accrual at period-end
□Applicable √Not applicable
(2) Top five clients in account receivable
In RMB
Proportion in total
Name Relations with Company Amount Aging
account receivable (%)
Shandong Zhonglu
Oceanic (Yantai) Foods Subsidiary 12,358,600.06 Within six months 68.47%
Co., Ltd.
PANDA Non-related party 3,600,962.12 Over three years 19.95%
Haifeng Company Non-related party 430,625.10 Over three years 2.39%
Han Xue Non-related party 293,209.20 Over three years 1.62%
Wholesale dept. Non-related party 158,154.98 Over three years 0.88%
Total -- 16,841,551.46 -- 93.31%
2. Other account receivable
(1) Other account receivable
In RMB
Closing amount Opening amount
Book balance Bad debt provision Book balance Bad debt provision
Category
Propo Propo Propo Propo
Amount rtion Amount rtion Amount rtion Amount rtion
(%) (%) (%) (%)
Other account receivable with bad debt provision accrual by portfolio
Portfolio 1:Accounts with
11.34
major single amount without 37,107,173.02 1,819,492.98 39,425,040.13 88.9% 4,472,162.00
%
withdrawal bad debt
103
provision singly
Portfolio 2:Accounts without
72.75
major single amount and 2,561,937.62 1,966,824.09 4,922,109.97 11.1% 3,580,641.07
%
major risks
18.16
Subtotal 39,669,110.64 3,786,317.07 44,347,150.10 100% 8,052,803.07
%
Total 39,669,110.64 -- 3,786,317.07 -- 44,347,150.10 -- 8,052,803.07 --
Explanation on category of other account receivable
Other account receivable with major single amount refers to the other accounts receivable with over RMB one million (RMB one
million included), the Company will withdrawal the bad debt provision by account age while no impairment been found in testing.
Other account receivable of bad debt provision withdrawal by portfolio refers to the other account receivable with major single
amount without withdrawal bad debt provision singly and the accounts without major single amount and major risks, the Company
will withdrawal bad debt provision by account age while no impairment been found in testing
Other account receivable with major single amount and withdrawal bad debt provision single at period-end
□Applicable √Not applicable
Other account receivable with bad debt provision withdrawal by method of account age in portfolio
√ Applicable □Not applicable
In RMB
Closing amount Opening amount
Book balance Book balance
Account age
Proporti Bad debt provision Proporti Bad debt provision
Amount Amount
on(%) on(%)
Within one year
Including: -- -- -- -- -- --
Within six
10,733,377.86 27.06% 16,866.00 35,945,539.33 81.05% 250,105.96
months
6 months to 1
25,528,010.29 64.35% 361,728.58 425,084.30 0.96% 42,508.43
year
Within one year 36,261,388.15 91.41% 378,594.58 36,370,623.23 82.01% 292,614.39
1-2years 309,053.98 0.7% 92,716.19
Over three years 3,407,722.49 8.59% 3,407,722.49 7,667,472.49 17.29% 7,667,472.49
3-4years 3,050.00 0.01% 3,050.00
Over five years 7,664,672.49 17.28% 7,664,672.49
Total 39,669,110.64 -- 3,786,317.07 44,347,150.10 -- 8,052,803.07
Other account receivable with bad debt provision withdrawal by method of percentage of balance in portfolio
□Applicable √Not applicable
Withdrawing bad bed provision by other methods in portfolio
104
□Applicable √Not applicable
Other account receivable with minor single amount but has individual bad debt provision accrual at period-end
□Applicable √Not applicable
(2) Other account receivable switch-back or taken back in reporting period
In RMB
Amount of bad bed
Determination basis for provision accrual
Reason of switch back Amount switch back or
Other account receivable original bad debt accumulatively before
or take back taken back
reserves switch-back or taken
back
Followed the
Taken back Payment Accounting Standard for 4,266,486.00 4,281,620.00
Business Enterprise
Total -- -- 4,266,486.00 --
Accrual of bad debt provision for other account receivable with major single amount or with minor amount but have impairment test
independently at period
In RMB
Account receivable Book balance Bad debt Accrual proportion (%) Reasons
Explanation on other account receivable with minor single amount but have major risks after combined with risk characteristic of the
credit
(3) Top five clients in other account receivable
In RMB
Proportion in total other
Name Relations with Company Amount Aging
account receivable (%)
Shandong Zhonglu
Fishery Shipping Co., Subsidiary 24,714,718.67 Within 1 year 62.3%
Ltd.
YAW ADDO Subsidiary 6,243,096.46 2-3 years 15.74%
Zhoushan Customs Non-related party 4,200,000.00 6 months to 1 year 10.59%
Japan Daihatsu Non-related party 288,896.39 Over three years 0.73%
Wang Yanle from
Staff of the Company 200,865.64 Over three years 0.51%
business dept.
Total -- 35,647,577.16 -- 89.87%
105
3. Long term equity investment
In RMB
Explanati
on on
Sharehold Accrual
Voting inconsiste
ing of
proportio ncy in Provision
Increase/ proportio provision Cash
Invested Calculatio Investme Opening Closing n in proportio for
decrease n in for dividend
company n method nt cost balance balance invested n between depreciati
change invested impairme in Period
company the on
company nt in
(%) sharehold
(%) Period
ing and
voting
South
Cost 33,000,00 33,000,00 33,000,00 33,000,00
Securities 0.87% 0.87%
method 0.00 0.00 0.00 0.00
Co., Ltd.
HABITA
T
Cost 12,476,14 12,476,14 12,476,14
INTERN 100% 100%
method 5.60 5.60 5.60
ATIONA
L CORP.
Shandong
Zhonglu
Cost 21,380,32 22,869,51 22,869,51
Fishery 100% 100%
method 0.00 3.38 3.38
Shipping
Co., Ltd.
Shandong
Zhonglu
Oceanic Cost 32,280,00 55,448,18 55,448,18
74.23% 74.23%
(Yantai) method 0.00 5.24 5.24
Foods
Co., Ltd.
Shandong
Zhonglu
Cost 28,000,00 1,311,900 26,688,10 28,000,00
Haiyan 51.85% 51.85%
method 0.00 .00 0.00 0.00
Oceanic
Co., Ltd.
127,136,4 125,105,7 26,688,10 151,793,8 33,000,00
Total -- -- -- --
65.60 44.22 0.00 44.22 0.00
Explanation on long term equity investment
106
4. Operating revenue and Operating cost
(1) Operating revenue
In RMB
Item Current amount Amount of the period before
Main operating revenue 72,545,924.45 74,128,085.09
Other revenue 4,756,262.02 2,841,489.83
Total 77,302,186.47 76,969,574.92
Operating cost 52,558,645.91 63,054,354.15
(2) Main business (by industries)
In RMB
Current amount Amount of the period before
Industries
Operating revenue Operating cost Operating revenue Operating cost
Oceanic fishing 72,545,924.45 49,783,238.95 73,530,169.59 61,595,950.58
Other 597,915.50 517,939.75
Total 72,545,924.45 49,783,238.95 74,128,085.09 62,113,890.33
(3) Main business (by products)
In RMB
Current amount Amount of the period before
Products
Operating revenue Operating cost Operating revenue Operating cost
Tuna 72,545,924.45 49,783,238.95 73,530,169.59 61,595,950.58
Other 597,915.50 517,939.75
Total 72,545,924.45 49,783,238.95 74,128,085.09 62,113,890.33
(4) Main business (regions)
In RMB
Current amount Amount of the period before
Regions
Operating revenue Operating cost Operating revenue Operating cost
Mainland China 38,947,932.45 32,264,212.55 58,557,877.52 49,843,091.61
Taiwan China 33,597,992.00 17,519,026.40 14,972,292.07 11,752,858.97
Ghana 597,915.50 517,939.75
Total 72,545,924.45 49,783,238.95 74,128,085.09 62,113,890.33
107
(5) Top five clients in operating revenue
In RMB
Proportion in total
Clients Total operating revenue operating revenue of the
Company (%)
No.1 Fengqun Fishery Co., Ltd. 33,597,992.00 43.46%
No.2 Ningbo Fengsheng Seafood Co., Ltd. 30,508,182.67 39.47%
No.3 Shandong Zhonglu Haiyan Oceanic Co., Ltd. 6,306,644.26 8.16%
No.4 Tropical Food Manufacturing (Ningbo) Co., Ltd. 1,221,668.02 1.58%
No.5 Fuzhou Jindingwei Food Co., Ltd. 240,314.00 0.31%
Total 71,874,800.95 92.98%
Explanation on operating revenue
5. Supplementary information of cash flow statement
In RMB
Amount of the Previous
Item Current Amount
Period
1. Reconciliation of net profit to cash flows from operating activities: -- --
Net profit 17,122,542.88 15,592,503.23
Add: Provision for impairment of assets 28,100,964.35 6,940.30
Depreciation of fixed assets, oil assets and productive biological
6,705,488.08 5,517,259.93
assets
Amortization of intangible assets 16,646.70 16,646.70
Losses on disposal of fixed assets, intangible assets and other
-1,470,292.70 4,779,798.56
long-term assets (income is listed with “- ”)
Financial expenses(income is listed with “- ”) 1,730,237.32 16,051.20
Decrease in inventories(increase is listed with “-”) -64,412,798.17 961,402.57
Decrease in operating receivables(increase is listed with “-”) -5,290,079.93 -8,170,470.75
Increase in operating payables(decrease is listed with “- ”) 13,655,850.20 55,444,506.44
Net cash flows arising from operating activities -3,841,441.27 74,164,638.18
2. Significant investing and financing activities that do not involve
-- --
cash receipts and payments
3. Net changes in cash and cash equivalents -- --
Cash at the end of the year 26,592,324.84 65,297,639.51
Less: Cash at the beginning of the period 16,467,806.39 24,327,292.06
108
Net increase in cash and cash equivalents 10,124,518.45 40,970,347.45
X. Supplementary Information
1. Current non-recurring gains/losses
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
1,091,226.17
write-off that accrued for impairment of assets)
Other non-operating income and expenditure except for the
46,408.22
aforementioned items
Total 1,137,634.39 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□Applicable √Not applicable
2. ROE and Earnings per share (EPS)
In RMB
Earnings per share(EPS)
Weighted average rate of
Net profit in Period Basic earnings per Diluted earnings per
ROE (%)
share(EPS) share(EPS)
Net profit attributable to common shareholders
4.73% 0.09 0.09
of Company
Net profit attributable to common shareholders
of Company after deducting non-recurring 4.5% 0.08 0.08
gains/losses
109
Section IX. Documents available for reference
I. Text of semi-annual report with signature of the legal representative;
II. Financial statement of the Company with signature and seal from the person in charge of the Company, person
in charge of the accounting works and person in charge of accounting;
III. Original text of all documents of the Company as well as manuscript of the announcement that disclosed on website appointed by
CSRC.
Shandong Zhonglu Oceanic Fisheries Co., Ltd
August 8, 2013
110
