山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
SEMI-ANNUAL REPORT 2015
August 2015
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
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 2015 is authentic, accurate and complete.
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Content
Semi-Annual Report 2015 ................................................................................................................. 1
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 ............................................................................................................ 17
Section VI Changes in shares and particular about shareholders............................................... 22
Section VII Preferred Stock……………………………………………………………………….27
Section VIII Directors, Supervisors and Senior Executives ....................................................... 28
Section IX Financial Report ............................................................................................................ 29
Section X Documents Available for Reference ........................................................................... 119
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Paraphrase
Items Refers to Definition
“The Company” or “Company” Refers to Shandong Zhonglu Oceanic Fisheries Company Limited
" Shandong State-owned Assets Investment " Refers to Shandong State-owned Assets Investment Holding Company Limited
“Luxin Group” Refers to Luxin Investment Holding Company Limited
State-owned Assets Supervision and Administration Commission of
“SASAP” Refers to
Shandong Provincial Government
“CSRC” Refers to China Securities Regulatory Commission
“Shandong SRB” Refers to CSRC, Shandong Securities Regulatory Bureau
“The report” Refers to Semi-Annual Report for 2015 compiled by the Company
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
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 Li Ming Li Ying
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 2014.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
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 2014.
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 2014.
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
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) 354,687,719.14 260,016,584.61 36.41%
Net profit attributable to shareholders of
-10,923,907.99 1,306,809.14 -935.92%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting -9,454,892.95 1,127,784.64 -938.36%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
3,256,740.30 1,721,929.37 89.13%
activities(RMB)
Basic earnings per share (RMB/Share) -0.04 0.005 -900.00%
Diluted earnings per share (RMB/Share) -0.04 0.005 -900.00%
Weighted average ROE -1.99% 0.24% -2.23%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end
Total assets (RMB) 852,804,975.75 797,490,171.48 6.94%
Net assets attributable to shareholder of
545,229,571.35 554,900,782.17 -1.74%
listed company(RMB)
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
The Company has no difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) in reporting period
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company has no difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and
Chinese GAAP (Generally Accepted Accounting Principles) in reporting period
II. Items and amounts of extraordinary profit (gains)/loss
√Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
-1,745,126.82
write-off that accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
439,542.74
national standards, which are closely relevant to enterprise’s
business)
Other non-operating income and expenditure except for the
96,010.67
aforementioned items
Less: impact on income tax 259,441.63
Total -1,469,015.04 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Section IV. Report of the Board of Directors
I. Introduction
By adherence to the core task of healthy production and operation, the Company managed to complete various
budget indexes and ensured sustainable development with open mind. However, as affected by both domestic and
international economic situation, price of tuna caught from oceanic fishing project dropped dramatically, and
production capacity also felled down, leading to a loss of the Company. Other segments realized their indexes as
expected. During the reporting period, the Company realized operating income of RMB354, 687,700, representing
an increase of RMB94, 671,100 or 36.41%. The operating cost was RMB341, 893,500, representing an increase
of RMB102, 767,500 or 42.98%. The Company realized net profit and equity attributable to parent company of
RMB (10,923,900) and RMB545, 229,600 respectively, representing decrease of 935.92% as compared to that of
last year and 1.74% as compared to that of year beginning respectively. Throughout the year, the Company caught
a total of 5801.18 tons of fishes, representing a decrease of 1071.58 tons or 15.59% as compared to that of last
year
II. Main business analysis
Y-o-y changes of main financial data
In RMB
Current period Same period of last year Y-o-y increase/decrease Reasons for changes
Increase of the fish
processing and trade
Operation revenue 354,687,719.14 260,016,584.61 36.41%
exporting, than the
income increased
Ditto, cost increased
Operation cost 341,893,525.38 239,126,034.18 42.98%
correspondingly
Sales expenses 3,174,368.35 2,138,614.48 48.43% Port freight increased
Administrative expenses 16,889,614.73 16,577,378.13 1.88%
Loans from subsidiaries
Financial cost 1,964,841.39 1,091,710.54 79.98% Zhonglu Food Company
increased
Profit from subsidiaries
Zhonglu Food Company
Income tax expense 259,441.63 144,258.54 79.84%
higher than same period
of last year
Operating income has
Net cash flow arising
3,256,740.30 1,721,929.37 89.13% dramatically growth over
from operation activities
same period of last year
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Net cash flow arising Investment in the Period
from investment -9,430,776.54 -11,624,249.91 18.87% decreased over that of
activities last year
Funds raising in the
Net cash flow arising
3,067,952.77 -1,873,220.21 263.78% Period increased over
from financing activities
that of last year
Net increase of cash and
-2,974,673.29 -11,601,442.24 74.36%
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
During the reporting period, challenged by depressed macro economy and tuna price, the Company worked hard
to basically maintain stable production and operation by adherence to its target “optimization, adjustment and
maintenance of healthy development”. For the first half year, the Company realized operating income of RMB354,
687,700, representing an increase of RMB94, 671,100 or 36.41%. The operating cost was RMB364, 326,600,
representing an increase of RMB105, 000,800 or 40.49%. The Company realized net profit attributable to parent
company of RMB (10,923,900), representing decrease of 935.92% as compared to that of last year.
III. Constitution of main business
In RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Operating
Operating cost Gross profit ratio 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
Seine tuna fishing 16,544,848.95 40,865,192.99 -147.00% -48.50% 35.80% -153.32%
Longlines tuna
45,935,526.50 41,410,511.17 9.85% -45.38% -54.31% 17.63%
fishing
Boat rental 47,080,135.99 34,820,146.42 26.04% 19.82% 17.28% 1.60%
Other deep-sea
7,018,984.35 6,718,236.83 4.28% 4.79% 2.41% 2.22%
fishing
Aquatic product
228,554,486.36 213,860,972.21 6.43% 149.05% 168.95% -6.92%
processing
Refrigerator 2,808,855.58 2,477,916.02 11.78% 193.29% 114.27% 32.53%
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
OEM 1,251,858.36 895,329.03 28.48% 107.58% 60.51% 20.97%
Total 349,194,696.09 341,048,304.67 2.33% 4.87% 6.92% -1.95%
According to products
Seine tuna fishing 16,544,848.95 40,865,192.99 -147.00% -48.50% 35.80% -153.32%
Longlines tuna
45,935,526.50 41,410,511.17 9.85% -45.38% -54.31% 17.63%
fishing
Boat rental 47,080,135.99 34,820,146.42 26.04% 19.82% 17.28% 1.60%
Other deep-sea
7,018,984.35 6,718,236.83 4.28% 4.79% 2.41% 2.22%
fishing
Aquatic product
228,554,486.36 213,860,972.21 6.43% 149.05% 168.95% -6.92%
processing
Refrigerator 2,808,855.58 2,477,916.02 11.78% 193.29% 114.27% 32.53%
OEM 1,251,858.36 895,329.03 28.48% 107.58% 60.51% 20.97%
Total 349,194,696.09 341,048,304.67 2.33% 4.87% 6.92% -1.95%
According to region
Taiwan 75,315,305.07 82,542,811.01 -9.60% 17.78% 55.97% -26.84%
China 70,336,182.77 61,715,421.42 12.26% -45.86% -1.96% 14.21%
Garner 7,018,984.35 6,718,236.83 4.28% 4.79% 2.06% 2.22%
Japan 129,742,034.80 124,960,605.24 3.69% 77.56% 5.29% -1.60%
Singapore 9,600,543.83 9,378,120.90 2.32% -35.33% 5.29% -2.97%
Korea 26,982,316.31 26,009,868.96 3.60% -13.86% 5.29% -1.69%
Other 30,199,328.96 29,723,240.31 1.58% 102.73% 5.29% -3.71%
Total 349,194,696.09 341,048,304.67 2.33% 4.87% 6.92% -1.95%
IV. Core competitive-ness analysis
As a comprehensive fishery enterprise, core competitive-ness of the Company mainly shows in follow aspects:
firstly, ocean-going fishing, refrigeration transport, aquatic products frozen processing and trading combined into
the enterprise, main business involved in vary main link of the industry chain, business between vary business
entities are highly associated, owns overall synergy conditions that supply guarantees of operation mode
innovation and for the strategy of reinforce and extend industry chain; Secondly, as one of the first enterprises
engaged in pelagic fishing business, business of the Company begins quite early with high starting point, and
talents and assets quality quite well. After professional operation for over decades, the Company absorb many
specialized talents with vary field of deep-sea fishery involved. No matter in aspect of ships numbers, gross
tonnage or profitability, current refrigerated transport fleet always leading the way in the country. The Company
owns the biggest ultra-low temperature cold storage and raw food processing factory in China. The tuna trading
center in China and new-established tuna electronic trading platform system strengthen the advantages of fresh
tuna processing and trading ability of the Company. The 1st phase construction of tide refrigerated logistic center,
30,000 tons ultra-low temperature and variable temperature cold storage as well as the supporting facility have
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
completed and bring into production. And now the operation is normal; thirdly, the oceanic fishery industry of the
Company, is one of the components of country’s maritime strategy and Shandong Blue Economic Zone Planning,
policy advantage is the material strategy resources for an enterpise to develop and growth, many oceanic
development preferential policy will carry out by the Company in a long time.
V. Investment analysis
1. Equity investment outside
(1) Investment outside
□ Applicable √ Not applicable
The Company has no investment outside in the Period
(2) Holding equity of financial enterprise
□ Applicable √ Not applicable
The Company has no equity of financial enterprise held in the Period
(3) Securities investment
□ Applicable √ Not applicable
The Company has no securities investment in the Period
(4)Explanation on equity of other listed company held
□ Applicable √ Not applicable
The Company had no equity of other listed company held in Period.
2. Trust financing, investment of derivatives and entrustment loan
(1) Trust financing
√ Applicable □ Not applicable
In ten thousand Yuan
Impairme
Connecte Is a Determin Principal nt Actual
Amount provision Anticipat gains/loss
d related e way for actually
Trustee Kinds for trust Start Date Expiry (if ed
relationsh transactio remunerat recover in es in
financing applicable income
ip n or not ion the period Period
)
CMB N/A No Preservati 200 2015-01- 2015-03- 200 1.24 1.24
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
on 20 18
financial
products
Preservati
on 2015-01- 2015-03-
CMB N/A No 200 200 1.42 1.42
financial 20 27
products
Preservati
on 2015-01- 2015-03-
CMB N/A No 200 200 1.42 1.42
financial 20 27
products
Preservati
on 2015-01- 2015-05-
CMB N/A No 200 200 2.67 2.67
financial 20 25
products
Preservati
on 2015-01- 2015-05-
CMB N/A No 200 200 2.67 2.67
financial 20 25
products
Total 1,000 -- -- -- 1,000 9.42 9.42
Capital resources Owned fund of the Company
Accumulated overdue uncollected
0
principal and interest
Disclosure date for the notice of approval
by the Board (if applicable)
Disclosure date for the notice of approval
by Shareholders’ General Meeting (if
applicable)
(2) Investment of derivatives
□ Applicable √ Not applicable
The Company has no derivatives investment in the Period
(3) Entrustment loan
□ Applicable √ Not applicable
The Company has no entrustment loan in the Period
3. Application of raised proceeds
□ Applicable √ Not applicable
The company had no application of raised proceeds in the reporting period.
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
4. Main subsidiaries and joint-stock companies analysis
√ Applicable □ Not applicable
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. 35,191,302. 14,670,238. -714,716.
Fishery Subsidiary 486,963.53 -714,716.86
transportati carriage of 00 03 93 86
Shipping
on frozen
Co., Ltd.
aquatic
products
Self-suppor
Habitat
ting
Internationa Refrigerate 12,476,146. 161,761,40 155,075,82 32,409,897. 9,101,301
Subsidiary business of 9,101,301.08
l d transport 00 5.07 3.34 06 .08
refrigerated
Corporation
transport
Freeze, cold
storage,
process and
Shandong sales of
Zhonglu aquatic
Oceanic Food products, 75,593,300. 314,672,93 131,697,34 276,560,27 7,669,469
Subsidiary 7,835,382.65
(Yantai) processing animal 00 1.31 6.94 6.13 .54
Foods Co., products
Ltd. and fruits
and
vegetables
etc.
Shandong
Offshore
Zhonglu
Ocean fishing, 138,731,90 147,540,83 137,845,08 2,337,427.0 -988,767.
Haiyan Subsidiary -981,673.41
fishery ocean-goin 0.00 6.50 7.71 0 41
Oceanic
g fishing
Co., Ltd.
5. Major project invested by non-raised funds
□ Applicable √ Not applicable
The Company had no major project invested by non-raised funds in Period.
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
VI. Prediction of business performance from January – September 2015
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
□ Applicable √ Not applicable
VIII. Explanation from the Board for “Qualified Opinion” of last year’s
□ Applicable √ 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
Previous year’s profit distribution plan was no profit distribution and shares converted from capital reserve either
X. Profit distribution and capitalization of capital reserves in the Period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for
the semi-annual year
XI. In the report period, reception of research, communication and interview
√ Applicable □ Not applicable
Contents discussed and
Time Place Way Type Reception
material provided
Operation status of the
Telephone
2015-01-27 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2015-04-20 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2015-04-21 Jinan Individual Individual investor Company and with no
communication
materials provided
2015-04-27 Jinan Telephone Individual Individual investor Operation status of the
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
communication Company and with no
materials provided
Operation status of the
Telephone
2015-04-28 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2015-04-29 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2015-05-04 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2015-05-12 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2015-05-13 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2015-06-02 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
Telephone
2015-06-05 Jinan Individual Individual investor Company and with no
communication
materials provided
Operation status of the
2015-06-09 Jinan Field research Individual Individual investor Company and with no
materials provided
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Section V. Iimportant Events
I. Corporate governance
During the reporting period, the Company continued to improve its legal person governance structure, further
standardize its operation and raise its corporate governance level in strict compliance with the Company Law,
Securities Law, Governance Rules of Listed Issuer, Guidelines on Standardized Operation of Companies Listed
on the Main Board of Shenzhen Stock Exchange. The Company was able to convene general meeting, board
meeting and supervisors meeting in strict accordance with relevant requirements, and the respective directors and
supervisors can perform their obligations on an earnest basis. During the reporting period, the actual corporate
governance of the Company had nothing different from the relevant requirements of the Company Law and the
CSRC.
II. Lawsuits
Significant lawsuits and arbitrations
□Applicable √Not applicable
The Company has no significant lawsuits and arbitrations in reporting period
Other lawsuits
□Applicable √Not applicable
III. Question from media
□ Applicable √ Not applicable
No universal questioned by media in reporting period
IV. Bankruptcy reorganization
□ Applicable √ Not applicable
In reporting period, the Company has no bankruptcy reorganization occurred.
V. Transaction in assets
1. Assets acquisition
□ Applicable √ Not applicable
The Company did not purchased assets in the Period
2. Sales of assets
□ Applicable √ Not applicable
The Company did not sell assets in the Period
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
3. Business combination
□ Applicable √ Not applicable
The Company has no business combined in the Period
VI. Implementation of the company’s equity incentive and the effects
□ Applicable √ Not applicable
No equity incentive in reporting period
VII. Significant related transaction
1. Related transaction routine operations concerned
□ Applicable √ Not applicable
The Company has no related transaction with routine operations concerned occurred in the Period
2. Related transaction incurred by purchase or sales of assets
□ Applicable √ Not applicable
No related transaction incurred by purchase or sales of assets in Period
3. Related transaction from jointly investment outside
□ Applicable √ Not applicable
No related transaction from jointly investment outside occurred in Period
4. Credits and liability of related party
□ Applicable √ Not applicable
The Company had no credits or liability of related party in Period.
5. Other related transactions
√ Applicable □ Not applicable
On 20 May 2015, the resolution relating to capital increase of Shandong Zhonglu Haiyan Oceanic Fisheries Co.,
Ltd. in specie was considered and approved at the 2014 annual general meeting of the Company.
In order to make our subsidiary Shandong Zhonglu Haiyan Oceanic Fisheries Co., Ltd. (hereinafter referred to as
Zhonglu Haiyan Company) meet relevant requirements by the ministry of agriculture in terms of number of
working vessels and total tonnage, and to ensure the existing qualification as oceanic fisheries company so as to
fully take advantages of the various beneficial policies issued by the national and local governments regarding to
developing oceanic fisheries, the Company plans to increase investment in Zhonglu Haiyan Company in specie
(namely to contribute eight tuna vessels into Zhonglu Haiyan Company) for its better development. Another
shareholder of Zhonglu Haiyan Company – Shandong Guotou gave up capital increase to the company.
Upon this capital increase, Zhonglu Company increased shareholding in Zhonglu Haiyan Company by 29.41%,
further increasing the rights and liabilities as the largest shareholder.
Website for temporary disclosure of the connected transaction
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Announcement Date of disclosure Website for disclosure
Capital increase and Related Transactions 2015-04-29 http//www.cninfo.com.cn
Supplemental Announcement of Related
2015-05-04 http//www.cninfo.com.cn
Transactions
Resolution of the AGM of 2014 2015-05-21 http//www.cninfo.com.cn
Capital increase for subsidiary 2015-06-02 http//www.cninfo.com.cn
VIII. Non-business capital occupying by controlling shareholders and its related parties
□ Applicable √ Not applicable
No non-business capital occupied by controlling shareholders and its related parties in Period
IX. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
The Company had no trusteeship in the reporting period.
(2) Contract
□ Applicable √ Not applicable
The Company had no contract in the reporting period.
(3) Leasing
□ Applicable √ Not applicable
The Company had no leasing in the reporting period.
2. Guarantee
□ Applicable √ Not applicable
The Company had no guarantee in the reporting period.
3. Other material contracts
□ Applicable √ Not applicable
The Company had no other material contracts in the reporting period.
19
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
4. Other material transactions
□ Applicable √ Not applicable
The Company had no other material transactions in the reporting period.
X. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or occurred in the previous reporting period but continued to
reporting period
□ Applicable √ Not applicable
The Company had no commitment made by the Company or shareholders holding above 5% shares of the Company in reporting
period or occurred in the previous reporting period but continued to reporting period in Period.
XI. Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□ Yes √ No
The semi-annual report had not been audited.
XII. Penalty and rectification
□ Applicable √ Not applicable
The Company had no penalty or rectification in the reporting period.
XIII. Risk disclosure of delisting with laws and rules violated
□ Applicable √ Not applicable
The Company has no delisting risks with laws and rules violated in Period
XIV. Explanation on other significant events
√ Applicable □ Not applicable
Name The Press for disclosure Date of disclosed Internet website and retrieval path for
disclosed information
Performance pre-notice of 2014 Hong Kong Commercial Daily 2015-1-30 http//www.cninfo.com.cn
China Securities Journal
Resolution Notice of 10th Meeting of Hong Kong Commercial Daily 2015-3-6 http//www.cninfo.com.cn
5th Session of the Board China Securities Journal
Resolution Notice of 8th Meeting of 5th Hong Kong Commercial Daily 2015-3-6 http//www.cninfo.com.cn
Session of Supervisory Committee China Securities Journal
Summary of Annual Report for year of Hong Kong Commercial Daily 2015-3-6 http//www.cninfo.com.cn
2014 China Securities Journal
Resignation of the Secretary of the Hong Kong Commercial Daily 2015-3-17 http//www.cninfo.com.cn
Board China Securities Journal
20
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Performance pre-notice of First Hong Kong Commercial Daily 2015-4-14 http//www.cninfo.com.cn
Quarterly for year of 2015 China Securities Journal
Resolution Notice of 11th Meeting of Hong Kong Commercial Daily 2015-4-29 http//www.cninfo.com.cn
5th Session of the Board China Securities Journal
Notice of Related Transaction Hong Kong Commercial Daily 2015-4-29 http//www.cninfo.com.cn
China Securities Journal
Summary of First Quarterly Report for Hong Kong Commercial Daily 2015-4-29 http//www.cninfo.com.cn
year of 2015 China Securities Journal
Declaration of the Independent Director Hong Kong Commercial Daily 2015-4-29 http//www.cninfo.com.cn
Nominator China Securities Journal
Declaration of the Independent Director Hong Kong Commercial Daily 2015-4-29 http//www.cninfo.com.cn
Candidate China Securities Journal
Annoucement of Helding the AGM of Hong Kong Commercial Daily 2015-4-29 http//www.cninfo.com.cn
2014 China Securities Journal
Supplement Annoucement of Related Hong Kong Commercial Daily 2015-5-4 http//www.cninfo.com.cn
Transactions China Securities Journal
Prompted Notice of AGM Hong Kong Commercial Daily 2015-5-16 http//www.cninfo.com.cn
China Securities Journal
Annoucement of Abnormal Price Hong Kong Commercial Daily 2015-5-19 http//www.cninfo.com.cn
Movement China Securities Journal
Resolution of the AGM of 2014 Hong Kong Commercial Daily 2015-5-21 http//www.cninfo.com.cn
China Securities Journal
Capital Increased Completion for Hong Kong Commercial Daily 2015-6-2 http//www.cninfo.com.cn
Subsidairy China Securities Journal
Annoucement of Abnormal Price Hong Kong Commercial Daily 2015-6-3 http//www.cninfo.com.cn
Movement China Securities Journal
21
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Number of shares and shares held
In Share
Before change Increase/decrease in this time (+ , - ) After change
Capitalizat
Bonus ion of
Amount Ratio New issue Other Subtotal Amount Ratio
share public
reserve
128,071,3 128,071,3
I. Unlisted shares 48.13% 48.13%
20 20
128,071,3 128,071,3
1. Sponsor shares 48.13% 48.13%
20 20
Including: State-owned 127,811,3 127,811,3
48.04% 48.04%
shares 20 20
Domestic corporate
260,000 0.10% 260,000 0.10%
shares
138,000,0 138,000,0
II. Listed shares 51.87% 51.87%
00 00
2. Domestically listed 138,000,0 138,000,0
51.87% 51.87%
foreign shares 00 00
266,071,3 266,071,3
III. Total shares 100.00% 100.00%
20 20
Reasons for share changed
□ Applicable √ Not applicable
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changes
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
Explanation on changes in aspect of total shares, shareholders structures as well as structure of assets and liability of the Company
□ Applicable √ Not applicable
22
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
II. Number of shares and shares held
In Share
Total preference shareholders
Total common shareholders at with voting rights recovered at
10,892 0
period-end end of reporting period (if
applicable) (see Note 8)
Particulars about shares held above 5% by common shareholders or top ten common shareholders
Amount Amount Number of share pledged/frozen
Number
of of
of
Changes holding holding
common
Nature of Proportion of in unlisted listed
Shareholders shares
shareholder shares held reportin common common State of share Amount
held at
g period circulati circulati
period-e
on on
nd
shares shares
Shandong
State-owned
Assets State-owned 88,000,0 88,000,0
33.07%
Investment corporate 00 00
Holding Co.,
Ltd
Shandong
Luxin
State-owned 37,731,3 37,731,3
Investment 14.18%
corporate 20 20
Holding Group
Co., Ltd
GUOTAI
JUNAN
17,828,5 17,828,5
SECURITIES( Overseas corporate 6.70%
11 11
HONGKONG)
LIMITED
Shanghai HK
7,878,87 7,878,87
Wanguo Overseas corporate 2.96%
4 4
securities
CHINA INT'L
CAPITAL
CORP HONG 6,378,78 6,378,78
Overseas corporate 2.40%
KONG 2 2
SECURITIES
LTD
Chen Tianming Overseas natural 2.16% 5,760,42 5,760,42
23
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
person 7 7
China
Everbright 2,865,60 2,865,60
Overseas corporate 1.08%
Securities 0 0
(H.K.) Co., Ltd.
Taifook
Securities
2,088,10 2,088,10
Company Overseas corporate 0.78%
0 0
Limited-Accou
nt Client
China National
Heavy Duty
State-owned 1,950,00 1,950,00
Truck Group 0.73%
corporate 0 0
Jinan Truck
LLC.
Wang Overseas natural 1,180,20 1,180,20
0.44%
Dongsheng person 0 0
Strategy investors or general
corporate becomes top 10 common
Not applicable
shareholders due to rights issued (if
applicable)(Note 3)
Shandong State-owned Assets Investment Holding Co., Ltd and Shandong Luxin Investment
Holding Group Co., Ltd are provincial state-owned enterprises under the same stock controlling of
Shandong Provincial Commission; China National Heavy Duty Truck Group Jinan Truck LLC is
the sponsor shareholder of the Company and the above mentioned shareholders have no
Explanation on associated
associated relationships or not belong to consistent actors regulated by Management
relationship among the aforesaid
Regulation of Information Disclosure on Change of Shareholding for Listed Companies. Rests
shareholders
of the shareholders are the domestically listed foreign shareholders, and t he Company is
unknown whether there exists associated relationship or belongs to consistent actor regulated
by “management method for acquisition of listed company” among the above said
shareholders.
Particulars about the shares held by the top ten unrestricted common shareholders
Amount of circulated common shares held at Type of shares
Shareholders
period-end Type Amount
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 17,828,511 listed foreign 17,828,511
LIMITED shares
Domestically
Shanghai HK Wanguo securities 7,878,874 listed foreign 7,878,874
shares
CHINA INT'L CAPITAL CORP 6,378,782 Domestically 6,378,782
24
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
HONG KONG SECURITIES LTD listed foreign
shares
Domestically
Chen Tianming 5,760,427 listed foreign 5,760,427
shares
Domestically
China Everbright Securities (H.K.)
2,865,600 listed foreign 2,865,600
Co., Ltd.
shares
Domestically
Taifook Securities Company
2,088,100 listed foreign 2,088,100
Limited-Account Client
shares
Domestically
Wang Dongsheng 1,180,200 listed foreign 1,180,200
shares
Domestically
Zhang Xiufang 1,108,554 listed foreign 1,108,554
shares
Domestically
Yi Ying 1,078,200 listed foreign 1,078,200
shares
Domestically
Huang Jiayi 1,048,687 listed foreign 1,048,687
shares
Expiation on associated relationship
or consistent actors within the top It is unknown whether the shareholders just mentioned belong to consistent actors or have
10 un-restrict common shareholders associated relationship or regulated by the Management Regulation of Information Disclosure
and between top 10 un-restrict on Change of Shareholding for Listed Companies.
common shareholders and top 10
common shareholders
Explanation on top 10 common
shareholders involving margin Not applicable
business (if applicable)(see note4)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
III. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
25
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
□ Applicable √ Not applicable
Changes of controlling shareholders had no change in reporting period.
Changes of actual controller in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
IV. Share holding increasing plan proposed or implemented in reporting period from
shareholder of the Company and its concerted action person
□ Applicable √Not applicable
As far as the Company know, there are no share holding increasing plan proposed or implemented in Period from shareholder of the
Company and its concerted action person.
26
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the reporting.
27
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Section VIII. 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
2014.
II. Resignation and dismissal of directors, supervisors and senior executives
√ Applicable □ Not applicable
Name Title Type Date Reasons
Independent
Wang Hanmin Elected 2015-05-20 Elected
director
Secretary of the
Li Ming Appointment 2015-04-28 Appointment
board
Leave the post
Independent
H u Yuanmu while office 2015-05-20 Leave the post while office terms expired
director
terms expired
Secretary of the
Zhou Feng Dismissal 2015-03-16 Quit (retired)
board
28
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Section IX. 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
2015-06-30
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 42,005,537.75 44,980,211.04
Settlement provisions
Capital lent
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable 39,499,929.78 25,395,972.27
Accounts paid in advance 41,468,269.34 29,278,905.45
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 8,261,901.89 7,613,670.62
Purchase restituted finance asset
29
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Inventories 230,412,082.47 189,737,455.53
Divided into assets held for sale
Non-current asset due within one
year
Other current assets 10,357,445.59 8,588,771.55
Total current assets 372,005,166.82 305,594,986.46
Non-current assets:
Loans and payments on behalf
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment
Investment property 34,166,390.46 34,775,723.22
Fixed assets 399,387,405.49 411,596,231.93
Construction in progress 24,254,326.57 22,485,504.14
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 13,696,842.01 13,862,710.39
Expense on Research and
Development
Goodwill
Long-term expenses to be
119,829.06
apportioned
Deferred income tax asset 306,828.34 306,828.34
Other non-current asset 8,868,187.00 8,868,187.00
Total non-current asset 480,799,808.93 491,895,185.02
Total assets 852,804,975.75 797,490,171.48
Current liabilities:
Short-term loans 57,472,132.69 42,316,324.69
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
30
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Derivative financial liability
Notes payable
Accounts payable 149,203,311.67 81,409,933.67
Accounts received in advance 14,518,919.74 21,249,662.15
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 15,603,410.41 16,946,769.05
Taxes payable 1,215,819.57 1,415,685.45
Interest payable 741,295.43
Dividend payable
Other accounts payable 11,897,719.30 7,124,660.88
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Divided into liability held for sale
Non-current liabilities due within 1
2,333,292.74 16,213,252.14
year
Other current liabilities
Total current liabilities 252,244,606.12 187,417,583.46
Non-current liabilities:
Long-term loans 1,900,000.00 1,900,000.00
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable 14,630,000.00 14,630,000.00
Long-term wages payable 2,123,940.44 1,780,982.41
Special accounts payable
Projected liabilities
Deferred income 12,305,625.58 12,305,625.58
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 30,959,566.02 30,616,607.99
Total liabilities 283,204,172.14 218,034,191.45
31
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Owner’s equity:
Share capital 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 282,494,952.60 281,245,215.96
Less: Inventory shares
Other comprehensive income 55,841.72 52,881.19
Reasonable reserve
Surplus public reserve 21,908,064.19 21,908,064.19
Provision of general risk
Retained profit -25,300,607.16 -14,376,699.17
Total owner’s equity attributable to
545,229,571.35 554,900,782.17
parent company
Minority interests 24,371,232.26 24,555,197.86
Total owner’s equity 569,600,803.61 579,455,980.03
Total liabilities and owner’s equity 852,804,975.75 797,490,171.48
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
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 13,518,115.67 30,215,484.63
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable 1,609,676.88 9,375,347.44
Account paid in advance 7,482,100.00 17,971,428.11
Interest receivable
Dividends receivable
32
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Other receivables 38,585,640.27 34,069,621.90
Inventories 79,618,863.50 90,759,254.92
Divided into assets held for sale
Non-current assets maturing within
one year
Other current assets 129,725.59 267,436.41
Total current assets 140,944,121.91 182,658,573.41
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term receivables 6,594,030.26 6,231,614.21
Long-term equity investments 204,189,455.23 118,779,655.23
Investment property 34,166,390.46 34,775,723.22
Fixed assets 90,733,308.96 187,370,467.76
Construction in progress 612,900.00
Project materials
Disposal of fixed assets
Productive biological assets
Oil and natural gas assets
Intangible assets 36,209.94 10,143.24
Research and development costs
Goodwill
Long-term deferred expenses
Deferred income tax assets
Other non-current assets
Total non-current assets 336,332,294.85 347,167,603.66
Total assets 477,276,416.76 529,826,177.07
Current liabilities:
Short-term borrowings 10,000,000.00 10,000,000.00
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes payable
Accounts payable 35,416,556.46 35,571,681.51
33
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Accounts received in advance 13,792,354.21 2,579,030.39
Wage payable 5,786,728.98 8,509,363.43
Taxes payable 658,874.43 749,581.59
Interest payable 50,506.75
Dividend payable
Other accounts payable 28,614,366.82 44,438,966.80
Divided into liability held for sale
Non-current liabilities due within 1
1,900,000.00 15,375,042.66
year
Other current liabilities
Total current liabilities 96,168,880.90 117,274,173.13
Non-current liabilities:
Long-term loans 1,900,000.00 1,900,000.00
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 1,458,495.50 1,458,495.50
Special accounts payable
Projected liabilities
Deferred income 761,424.64
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 3,358,495.50 4,119,920.14
Total liabilities 99,527,376.40 121,394,093.27
Owners’ equity:
Share capita 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 279,115,900.17 279,115,900.17
Less: Inventory shares
Other comprehensive income
34
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Reasonable reserve
Surplus reserve 19,184,672.34 19,184,672.34
Retained profit -186,622,852.15 -155,939,808.71
Total owner’s equity 377,749,040.36 408,432,083.80
Total liabilities and owner’s equity 477,276,416.76 529,826,177.07
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 354,687,719.14 260,016,584.61
Including: Operating income 354,687,719.14 260,016,584.61
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 364,326,577.69 259,325,768.29
Including: Operating cost 341,893,525.38 239,126,034.18
Interest expense
Commission charge and commission
expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 404,227.84 392,030.96
Sales expenses 3,174,368.35 2,138,614.48
Administration expenses 16,889,614.73 16,577,378.13
Financial expenses 1,964,841.39 1,091,710.54
Losses of devaluation of asset
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed
35
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
with “-”)
Including: Investment income on
affiliated company and joint venture
Exchange income (Loss is listed
with “-”)
III. Operating profit (Loss is listed with
-9,638,858.55 690,816.32
“-”)
Add: Non-operating income 542,733.41 478,581.95
Including: Disposal gains of
non-current asset
Less: Non-operating expense 1,752,306.82 299,557.45
Including: Disposal loss of
1,745,126.82 291,933.45
non-current asset
IV. Total Profit (Loss is listed with “-”) -10,848,431.96 869,840.82
Less: Income tax expense 259,441.63 144,258.54
V. Net profit (Net loss is listed with “-”) -11,107,873.59 725,582.28
Net profit attributable to owner’s of
-10,923,907.99 1,306,809.14
parent company
Minority shareholders’ gains and
-183,965.60 -581,226.86
losses
VI. Net after-tax of other comprehensive
2,960.53 -6,201.08
income
Net after-tax of other comprehensive
income attributable to owners of parent 2,960.53 -6,201.08
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss
(II) Other comprehensive income
items which will be reclassified 2,960.53 -6,201.08
subsequently to profit or loss
36
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
1. Share of the other
comprehensive income of the investee
accounted for using equity method which
will be reclassified subsequently to profit
or loss
2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale financial
assets
4. The effect hedging portion
of gains or losses arising from cash flow
hedging instruments
5. Translation differences
arising on translation of foreign currency 2,960.53 -6,201.08
financial statements
6. Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income -11,104,913.06 719,381.20
Total comprehensive income
-10,920,947.46 1,300,608.06
attributable to owners of parent Company
Total comprehensive income
-183,965.60 -581,226.86
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share -0.04 0.005
(ii) Diluted earnings per share -0.04 0.005
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal Representative: Li Wenyi Person in Charge of Accounting: Zhang Weiping
Person in Charge of Accounting Department: Lei Lixin
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
I. Operating income 63,565,831.67 110,632,911.88
37
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Less: Operating cost 80,525,788.81 112,102,413.16
Operating tax and extras 344,641.80 240,453.35
Sales expenses 263,143.28 185,615.30
Administration expenses 8,923,445.69 10,384,249.02
Financial expenses 115,006.58 506,278.72
Losses of devaluation of asset
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”)
Including: Investment income
on affiliated company and joint venture
II. Operating profit (Loss is listed
-26,606,194.49 -12,786,097.67
with “-”)
Add: Non-operating income 110,284.67 8,642.60
Including: Disposal gains of
1,548.60
non-current asset
Less: Non-operating expense 4,187,133.62 1,000.00
Including: Disposal loss of
4,179,953.62
non-current asset
III. Total Profit (Loss is listed with
-30,683,043.44 -12,778,455.07
“-”)
Less: Income tax expense
IV. Net profit (Net loss is listed with
-30,683,043.44 -12,778,455.07
“-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss
38
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss
2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale
financial assets
4. The effect hedging
portion of gains or losses arising from
cash flow hedging instruments
5. Translation differences
arising on translation of foreign
currency financial statements
6. Other
VI. Total comprehensive income -30,683,043.44 -12,778,455.07
VII. Earnings per share:
(i) Basic earnings per share -0.115 -0.048
(ii) Diluted earnings per share -0.115 -0.048
5. Consolidated Cash Flow Statement
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 321,832,556.63 261,347,101.18
services
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
bank
39
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings and
investment
Net increase of amount from
disposal financial assets that measured
by fair value and with variation
reckoned into current gains/losses
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Write-back of tax received 24,785,214.51 23,929,792.87
Other cash received concerning
21,586,085.45 8,827,066.97
operating activities
Subtotal of cash inflow arising from
368,203,856.59 294,103,961.02
operating activities
Cash paid for purchasing
commodities and receiving labor 284,284,559.67 229,949,930.76
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 50,560,586.51 39,653,914.45
Taxes paid 3,702,132.11 3,232,169.03
Other cash paid concerning
26,399,838.00 19,546,017.41
operating activities
40
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Subtotal of cash outflow arising from
364,947,116.29 292,382,031.65
operating activities
Net cash flows arising from operating
3,256,740.30 1,721,929.37
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 132,974.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
132,974.00
activities
Cash paid for purchasing fixed,
9,430,776.54 11,757,223.91
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
9,430,776.54 11,757,223.91
activities
Net cash flows arising from investing
-9,430,776.54 -11,624,249.91
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
41
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Cash received from loans 61,900,595.13 21,113,015.94
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
61,900,595.13 21,113,015.94
activities
Cash paid for settling debts 57,137,375.73 21,400,448.16
Cash paid for dividend and profit
1,695,266.63 1,585,787.99
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
58,832,642.36 22,986,236.15
activities
Net cash flows arising from financing
3,067,952.77 -1,873,220.21
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 131,410.18 174,098.51
exchange rate
V. Net increase of cash and cash
-2,974,673.29 -11,601,442.24
equivalents
Add: Balance of cash and cash
44,980,211.04 53,935,725.66
equivalents at the period -begin
VI. Balance of cash and cash
42,005,537.75 42,334,283.42
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 73,565,062.60 97,512,745.74
services
Write-back of tax received 9,430.95
Other cash received concerning 16,899,788.26 4,364,018.87
42
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
operating activities
Subtotal of cash inflow arising from
90,474,281.81 101,876,764.61
operating activities
Cash paid for purchasing
commodities and receiving labor 57,906,027.79 80,816,610.46
service
Cash paid to/for staff and workers 20,311,694.29 15,170,672.53
Taxes paid 535,262.69 295,186.29
Other cash paid concerning
14,288,824.02 11,491,311.44
operating activities
Subtotal of cash outflow arising from
93,041,808.79 107,773,780.72
operating activities
Net cash flows arising from operating
-2,567,526.98 -5,897,016.11
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
investing activities
Subtotal of cash inflow from investing
activities
Cash paid for purchasing fixed,
37,183.00 15,960.00
intangible and other long-term assets
Cash paid for investment
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
37,183.00 15,960.00
activities
43
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Net cash flows arising from investing
-37,183.00 -15,960.00
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans 10,400,000.00
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
10,400,000.00
activities
Cash paid for settling debts 13,446,666.66 7,697,777.78
Cash paid for dividend and profit
645,992.32 1,084,039.95
distributing or interest paying
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
14,092,658.98 8,781,817.73
activities
Net cash flows arising from financing
-14,092,658.98 1,618,182.27
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -25,385.02
exchange rate
V. Net increase of cash and cash
-16,697,368.96 -4,320,178.86
equivalents
Add: Balance of cash and cash
30,215,484.63 13,401,133.74
equivalents at the period -begin
VI. Balance of cash and cash
13,518,115.67 9,080,954.88
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
This Period
In RMB
This Period
Owners’ equity attributable to parent company Minorit Total
Item
Other Capital Less: Other Reason Surplus Provisio Retaine y owners’
Share interests equity
equity instrument reserve Invento compre able reserve n of d profit
44
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
capital Perpet ry hensive reserve general
ual shares income risk
Prefer
capita
red Other
l
stock
securi
ties
266,07
I. Balance at the 281,245 52,881. 21,908, -14,376, 24,555, 579,455
1,320.
end of the last year ,215.96 19 064.19 699.17 197.86 ,980.03
00
Add:
Changes of
accounting policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
II. Balance at the 266,07 281,245 52,881. 21,908, -14,376, 24,555, 579,455
beginning of this 1,320.
,215.96 19 064.19 699.17 197.86 ,980.03
year 00
III. Increase/
Decrease in this 1,249,7 2,960.5 -10,923, -183,96 -9,855,1
year (Decrease is 36.64 3 907.99 5.60 76.42
listed with “-”)
(i) Total 2,960.5 -10,923, -183,96 -11,104,
comprehensive
3 907.99 5.60 913.06
income
(ii) Owners’ 1,249,7 1,249,7
devoted and
36.64 36.64
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
1,249,7 1,249,7
4. Other
36.64 36.64
(III) Profit
distribution
1. Withdrawal of
surplus reserves
45
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
2. Withdrawal of
general risk
provisions
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,07 282,494 55,841. 21,908, -25,300, 24,371, 569,600
end of the report 1,320.
,952.60 72 064.19 607.16 232.26 ,803.61
period 00
Last Period
In RMB
Last Period
Owners’ equity attributable to the parent Company
Other
equity instrument Minorit
Item Less: Other Provisio Total
Perpet Reason y
Share
ual Capital Invento compre Surplus n of Retaine interest owners’
able equity
capital Prefer capita reserve ry hensive reserve general d profit s
red Other reserve
l shares income risk
stock
securi
ties
I. Balance at the 266,07
281,245 58,213. 21,908, -29,744, 25,804, 565,343
end of the last year 1,320.
46
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
00 ,215.96 82 064.19 691.68 934.50 ,056.79
Add:
Changes of
accounting policy
Error
correction of the
last period
Enterprise
combine under the
same control
Other
II. Balance at the 266,07 281,245 58,213. 21,908, -29,744, 25,804, 565,343
beginning of this 1,320.
,215.96 82 064.19 691.68 934.50 ,056.79
year 00
III. Increase/
Decrease in this -5,332.6 15,367, -1,249, 14,112,
year (Decrease is 3 992.51 736.64 923.24
listed with “-”)
(i) Total -5,332.6 15,367, -1,249, 14,112,
comprehensive
3 992.51 736.64 923.24
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4 Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk
provisions
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
47
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
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. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,07 281,245 52,881. 21,908, -14,376, 24,555, 579,455
end of the report 1,320.
,215.96 19 064.19 699.17 197.86 ,980.03
period 00
8. Statement of Changes in Owners’ Equity (Parent Company)
This Period
In RMB
This Period
Other
equity instrument
Other Total
Item Perpetu Less:
Share Capital comprehe Reasonab Surplus Retaine
Inventory owners’
capital Preferre al reserve nsive le reserve reserve d profit
capital Other shares equity
d stock income
securiti
es
-155,93
I. Balance at the 266,071, 279,115,9 19,184,67 408,432,0
9,808.7
end of the last year 320.00 00.17 2.34 83.80
1
Add: Changes
of accounting
policy
Error
correction of the
48
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
last period
Other
II. Balance at the 266,071, -155,93
279,115,9 19,184,67 408,432,0
beginning of this 9,808.7
320.00 00.17 2.34 83.80
year 1
III. Increase/
Decrease in this -30,683, -30,683,0
year (Decrease is 043.44 43.44
listed with “-”)
(i) Total -30,683, -30,683,0
comprehensive
043.44 43.44
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or
shareholders)
3. Other
(IV) Carrying
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
49
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,071, -186,62
279,115,9 19,184,67 377,749,0
end of the report 2,852.1
320.00 00.17 2.34 40.36
period 5
Last period
In RMB
Last period
Other
equity instrument
Other Total
Item Share Perpetu Less: Retaine
Capital comprehe Reasonab Surplus
Inventory owners’
capital Preferre al reserve nsive le reserve reserve d profit
capital Other shares equity
d stock income
securiti
es
-147,26
I. Balance at the 266,071, 279,115,9 19,184,67 417,109,9
1,971.6
end of the last year 320.00 00.17 2.34 20.91
0
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the 266,071, -147,26
279,115,9 19,184,67 417,109,9
beginning of this 1,971.6
320.00 00.17 2.34 20.91
year 0
III. Increase/
Decrease in this -8,677,8 -8,677,83
year (Decrease is 37.11 7.11
listed with “-”)
(i) Total -8,677,8 -8,677,83
comprehensive
37.11 7.11
income
(ii) Owners’
devoted and
decreased capital
50
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 266,071, -155,93
279,115,9 19,184,67 408,432,0
end of the report 9,808.7
320.00 00.17 2.34 83.80
period 1
51
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
III. Company profile
Shandong Zhonglu Oceanic Fisheries Co., Ltd. (the “Company”), registered at No.43, Heping Road, Jinan,
Shandong Province, HQ located at No.43, Heping Road, Jinan, Shandong Province, 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
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
Operating scope: general management projects: sales and processing of aquatic products; 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.
52
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Pre-licensing projects: offshore fishing and distant fishing.
Basic organization structure of the Company: board of shareholders, board of directors, supervisory committee,
office of the board, departments of human resources, financing plan department, corporate operation department,
office of auditory supervision and general affairs department.
The financial report has been approved for report by the Board dated 20 August 2015.
Till end of 30 June 2015, consolidation socpe of the Company are as: four subsidairies, that is Shandong Zhonglu
Fishery Shipping Co., Ltd., Shandong Zhonglu Oceanic (Yantai) Foods Co., Ltd., HABITAT
INTERNATIONAL CORPORATION and Shandong Zhonglu Haiyan Deep-sea Fishery Co., Ltd; two
sub-subsidiary: LAIFFISHERIES COMPANY LIMITED and Shandong Zhonglu Ocean Refrigerated Co., Ltd.;
and one operation entity with conrolling rights obtained through operating lease: YAW ADDO FISHERIES
COMPANY LIMITED.
IV. Preparation basis of Financial Statements
1. Preparation basis
Base on the running continuously and actual transactions and events, in line with the Accounting Standards for
Business Enterprise – Basic Standards and specific principle of accounting standards issued by the Ministry of
Finance, the Company prepared and formulate the financial statement lies on the followed important accounting
policy and estimation.
2. Going concern
The Company have the ability to continue as a going concern within 12 months at least since end of the reporting period, there
are no major events that impact the ability to continue as a going concern
V. Important accounting policy and estimation
Notes on specific accounting policies and accounting estimation:
The Company and subsidiaries determine specific accounting policies and accounting estimation based on their
production and operation, which mainly differ in provision for bad debt reserve of trade receivables and
amortization of intangible assets.
1. Declaration of obedience to Accounting Standards for Business Enterprise
The Financial Statements of the Company are up to requirements of Accounting Standards for Business Enterprise
and also a true and thorough reflection to the relevant information as the Company’s financial position dated 30th
June 2015 and the operation results as well as cash flow in first half year of 2015.
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
2. Accounting period
The Company’s accounting year is Gregorian calendar year, namely from 1st January to 31st December of every
year.
3. Business cycle
The Company’s business cycle is one year(12 months) as a normal cycle, and the business cycle is the determining criterion
for the liquidity of assets and liabilities of the Comapny.
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
Where the Company for long term equity investment arising from business combination under common control
satisfies the combination consideration by payment of cash, transfer of non-cash assets or assumption of debt, the
carrying value of the net assets of the acquire in combined financial statement of the ultimate controller shared by
the Company as at the combination date shall be deemed as the initial investment cost of such long term equity
investment. If the equity instrument issued by combining party are consider as the combination consideration,
than the total value of the issuing shares are consider as the share capital. The difference between the initial cost of
long-term equity investment and book value of consideration (or total face value of the shares issued) paid, capital
surplus adjusted; if the capital surplus not enough to written down, than retained earning adjusted.
(2) Business combination not under common control
As for business combination not under common control, combination costs refer to the sum of the fair value of the
assets paid, liabilities occurred or assumed as well as equity securities issued by the acquirer to obtain control over
the acquire as at the acquisition date. As for acquiree that obtained by consolidation not under the same control,
the qualified confirmation of identified assets, liability and 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) consolidation financial statement range
The Company includes all the subsidiaries (including the separate entities controlled by the Company) into
consolidated financial statement, including companies controlled by the Company, non-integral part of the
investees and structural main body.
(2) Centralize accounting policies, balance sheet dates and accounting periods of parent and subsidiaries.
As for the inconsistency between the subsidiaries and the Company in the accounting policies and periods, the
54
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
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.
(3)setoff of consolidated financial statement
The consolidated financial statements shall be prepared on the basis of the balance sheet of the parent company
and subsidiaries, which offset the internal transactions incurred between the parent company and subsidiaries and
within subsidiaries. The owner’s equity of the subsidiaries not attributable to the parent company shall be
presented as minority equity under the owner’s equity item in the consolidated balance sheet. The long term
equity investment of the parent company held by the subsidiaries, deemed as treasury stock of the corporate group
as well as the reduction of owners’ equity, shall be presented as “Less: treasury stock” under the owners’ equity
item in the consolidated balance sheet.
(4)Accounting for acquisition of subsidiary through combination
For subsidiaries acquired under enterprise merger involving enterprises under common control,
the assets, liabilities, operating results and cash flows of the subsidiaries are included in the consolidated financial
statements from the beginning of the financial year in which the combination took place. When
preparing the consolidated financial statements, for the subsidiaries acquired from business
combination not involving entities under common control, the identifiable net assets of the subsidiaries are
adjusted on the basis of their fair values on the date of acquisition.
7. Classification of joint arrangements and accounting treatment of joint operation
(1) Classification of joint arrangements
Joint arrangements are divided into joint operations and joint ventures. Joint arrangements achieved not through
separate entities are classified as joint operations. Separate entities refer to the entities with separate identifiable
financial architecture including separate legal entities and legally recognised entities without the qualification of
legal entity. Joint arrangements achieved through separate entities are generally classified as joint ventures. In
case of changes in rights entitled to and obligations undertaken by the parties of joint venture under a joint
arrangement due to the changes in relevant facts and circumstances, the parties of joint venture will re-assess the
classification of joint arrangements.
(2) Accounting treatment for joint operations
The parties of joint operation should recognise the following items in relation to their share of interest in joint
operation, and proceed with accounting in accordance with the relevant provisions under the Accounting
Standards for Business Enterprises: to recognise their separate assets or liabilities held, and recognise the assets or
liabilities jointly held according to their respective shares; to recognise the income from the disposal of their
output share under joint operation; to recognise the income from the disposal of output under joint operation
according to their respective shares; to recognise the expenses incurred separately, and recognise the expenses
incurred under joint operation according to their respective shares. For the parties of a joint operation not under
common control, if they are entitled to relevant assets and undertake relevant liabilities of the joint operation,
accounting will be carried out with reference to the provisions of the parties of joint operation; otherwise, it
should be subject to relevant Accounting Standards for Business Enterprises.
(3) Accounting treatment for joint ventures
The parties of a joint venture should perform accounting for investments by the joint venture in accordance with
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the Accounting Standards for Business Enterprises No. 2 – Long-term Equity Investments. The parties not under
common control should carry out accounting depending on their influence on the joint venture.
8. 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.
9. Foreign currency exchange and the conversion of foreign currency statements
(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.
10. Financial instruments
(1) Categories and recognition of financial instruments
The financial instruments are classified as the financial assets and liabilities. As the Company becomes one party
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of the financial instrument contract, the instrument is recognized as one financial asset or liability. 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, long-term invest-bonds, account receivables, 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, other financial liabilities.
Financial assets at fair value through profit or loss include financial assets held for the purpose of selling in the
short term; receivables are non-derivative financial assets with fixed or determinable payments that are not quoted
in an active market; available-for-sale financial assets are non-derivative financial assets that are either designated
in this category or not classified in any of the other categories at initial recognition; held-to-maturity investments
are non-derivative financial assets with fixed maturity and fixed or determinable payments that management has
the positive intention and ability to hold to maturity.
(2) 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 the financial liabilities that measured by fair value with
alteration reckoned into current gains/losses should measured by fair value; the held-to-maturity securities, loans,
account receivable and other financial liabiltiy are measured by amortized cost; as for the equity instrument
investment without quote in an active market and with its fair value can not be reliably measured, and those
derivative financail assets or liability that paid with equity instrument, which have hook with such instrument,
should measured by 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; ② The fair value change of the financial assets available for sale, is
reckoned into the other comprehensive income.
(3) Recognition of the fair value for the financial assets and liabilities
For those financial instruments existing in active markets, market quotation in the active market is used to confirm
their fair values; fair value of the financial instruments which have no active market is confirmed by adoption of
estimation technology. The estimation technology mainly including market approach, income approach and cost
method
(4) Recognition basis and measurement method for the transfer of financial assets/liabilities
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. For the financial assets are qualified for the 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.
If the partial transfer satisfies the criteria for derecognition, the entire carrying value of the transferred financial
asset shall proportionally allocated between the derecognized portion and the retained portion according to their
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respective relative fair value. When all or part of the current obligation to a financial liability has been terminated,
the entire or part of such financial liability shall be derecognized.
(5) Impairment loss on a financial assets
When an impairment loss on a financial asset carried at amortised cost has occurred, the amount of loss is
provided for at the difference between the asset’s carrying amount and the present value of its estimated future
cash flows (excluding future credit losses that have not been incurred). If there is objective evidence that the value
of the financial asset recovered and the recovery is related objectively to an event occurring after the impairment
was recognised, the previously recognised impairment loss is reversed and the amount of reversal is recognised in
profit or loss.
When an impairment loss on a financial asset measured at cost has occurred, the amount of loss is provided for at
the difference between the asset’s carrying amount and the present value of its estimated future cash flows. The
impairment loss on such financial asset is not reversed once it is recognised.
Where there is objective evidence that an impairment loss on available-for-sale financial assets occurs, the
cumulative loss arising from the decline in fair value that had been recognised directly in equity is removed from
equity and recognised in impairment loss. For en investment in debt instrument classified as available-for-sale on
which impairment losses have been recognised, if, in a subsequent period, its fair value increases and the increase
can be objectively related to an even occurring after the impairment loss was recognised in profit or loss, the
previously recognised impairment loss is reversed and recognised in profit or loss for the current period. For an
investment in an equity instrument classified as available-for-sale on which impairment losses have been
recognised, the increase in its fair value in a subsequent period is recognised in equity directly.
For investments in equity instruments, the specific quantitative criteria for the Company to determine “serious” or
“not temporary” decrease in their fair value, cost computing method, method for determining closing fair value,
and basis for determining the continuous decrease period are set out below:
Specific quantitative criterion Decrease in closing fair value relative to the cost has reached or exceeded 50%
on “serious” decrease in their
fair value
Specific quantitative criterion Fall for 12 consecutive months
on “not temporary” decrease in
their fair value
Cost computing method Consideration of payment at acquisition (net of cash dividends declared but not yet paid or due but
unpaid interest on bonds) and the relevant transaction cost are recognized as the investment cost.
Method for determining As for a financial instrument for which there is an active market, the quoted prices in the active
closing fair value market shall be used to recognize the fair values thereof. Where there is no active market for a
financial instrument, the enterprise concerned shall adopt value appraisal techniques to determine its
fair value.
Basis for determining the The rebound in the continuous fall or the period with the tread of fall is less than 20% margin.
continuous decrease period Rebound duration not more than six months is treated as continuous decrease period.
11. Account receivable
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(1) account receivables with single major amount and withdrawal bad debt provision independently
Book balance of the account receivable with over one
Criterion or amount standards of major single amount
million Yuan (one million yean inclusive)
Withdrawal method for individual bad debt provision accrual Recognized on the difference between the book value and the
with 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
Age portfolio Aging of accounts
Age portfolio Aging of accounts
Withdrawing bad bed provision by aging method in portfolio:
√ Applicable □ Not applicable
Accrued proportion of accounts Accrued proportion of other
Account ages
receivable accounts receivable
Within six months 5.00% 5.00%
Six months to one year (one year
10.00% 10.00%
inclusive)
1－2 years 30.00% 30.00%
2－3years 50.00% 50.00%
Over three years 100.00% 100.00%
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
12. 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, consumable low-value product,
storage goods, turnover material and wrappage etc.
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(2) Accounting method for inventory delivery
Recognized actual cost for the inventory while deliver by using weighted average method
(3) Accural method inventory falling price reserves
On the balance sheet day, the inventory is measured on the lower one between the cost and the net realizable value,
and the provision for the falling price reserves is accrued on each inventory item; however, as for the inventory of
large quantity and low price, the provision is accrued on the inventory category.，Recognition principle on net
realizable value of inventory: ① net realizable value as the estimative sale price less the relevant tax expenses,
stock of the Company mainly refers to the long lines tuna, ending net realizable value of the tuna based on the
quote of Shimizu Fisheries, closely to balance sheet date, after deducted relevant expenses while products have
sale achieved; 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 of the Company is perpetual inventory system
(5) Amortization method for the low-value consumables and wrap page
Amortization method for the low-value consumables and wrap page refers to the fifty percent (50%) amortization
13. Long term equity investment
(1) Recognition of initial investment cost
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. As for the long
term equity investment obtained by cash payment, the initial investment cost is the actual purchase payment. As
for the long term equity investment obtained by the equity securities offering, the initial investment cost is the fair
value of the equity securities. As for the long-term equity investment obtained by debt reorganization, initial
investment cost of such investment should determine by relevant regulation of the “Accounting Standards for
Business Enterprise No.12- Debt Reorganization”; As for the long term equity investment obtained by the
exchange of the non-monetary assets and the debts restructuring, the initial investment cost is recognized on the
relevant rules in the Principles.
(2) Subsequent measurement and profit or loss recognition
Where the investor has a control over the investee, long-term equity investments are measured using cost method.
Long-term equity investments in associates and joint ventures are measured using equity method. Where part of
the equity investments of an investor in its associates are held indirectly through venture investment institutions,
common fund, trust companies or other similar entities including investment linked insurance funds, such part of
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equity investments indirectly held by the investor shall be measured at fair value through profit or loss according
to according to relevant requirements of Accounting Standards for Business Enterprises No.22—Recognizition
and measurement of Financial Instruments regardless whether the above entities have significant influence on
such part of equity investments, while the remaining part shall be measured using equity method.
(3) Basis of conclusion for common control and significant influence over the investee
Joint control over an investee refers to where the activities which have a significant influence on return on certain
arrangement could be decided only by mutual consent of the investing parties sharing the control, which includes
the sales and purchase of goods or services, management of financial assets, acquisition and disposal of assets,
research and development activities and financing activities, etc.; Significant influence on the investee refers to
that: significant influence over the investee exists when holding more than 20% but less than 50% of the shares
with voting rights or even if the holding is below 20%, there is still significant influence if any of the following
conditions is met: there is representative in the board of directors or similar governing body of the investee;
participation in the investee’s policy setting process; assign key management to the investee; the investee relies on
the technology or technical information of the investing company; or major transactions with the investee.
14. Investment real estate
Measurement for investment real estate
Cost method
Depreciation or amortization method
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.
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.
15. Fixed assets
(1) Recognition
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:
The economic interest related to the fixed assets probably flow into the Company; The cost of the fixed assets can
be measured reliably.
(2) Depreciation method
Depreciation life Annual depreciation
Category Depreciation method Salvage rate
(year) rate
House and building Straight-line depreciation 20-40 3-5 2.00-5.00
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5-30
Vessel and netting gear Straight-line depreciation 3-5 3.17-12.00
Machine equipment Straight-line depreciation 8-20 3-5 5.00-12.00
Transportation
Straight-line depreciation 5 3-5 19.00-19.40
equipment
Furniture and office
Straight-line depreciation 5 3-5
equipment
(3) Recognition, evaluation and depreciation of the fixed assets under finance lease
Recognition of fixed assets under finance lease: the nature of this kind of lease is a transfer of all risk and rewards
related to the ownership of assets. Measurement of fixed assets under finance lease: the initial amount of a fixed
asset under finance lease should be recorded as the lower of fair value of the leased asset at the beginning date of
lease term and the present value of minimum lease payment. Subsequent measurement of fixed assets under
finance lease should be in accordance with the accounting policies adopted for self-owned fixed assets in respect
of provision of depreciation and impairment.
16. Project in progress
Project in progress of the Company divided as self-run construction and out-bag construction. 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: The substance construction
(installation included) of the fixed assets has completed all or basically; 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. The expenditure of the
fixed assets on the construction, is a little or little. The fixed assets of the project constructed have been up to the
requirements of the design or contract, or basically up to. The construction in progress of the Company mainly
refers to vessels. When a vessel is accepted as qualified for normal sailing, the Company determines that the
vessel reaches its planned condition for use.
17. 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) Calculation of the capitalization
Capitalization term: the period from the time starts to capitalization to the time the capitalization ends. The period
of capitalization suspended is not included. The capitalization of borrowing expenses should be suspended while
the abnormal interrupt, which surpass three months continuously, in the middle of acquisition or construction or
production.
As for the borrowing of the specific borrowing, the capitalization sum is recognized on the current actual
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interest expenses less the interest income of the borrowing capital not utilized but deposited in the bank or the
return of the temporary investment; As for the appropriation of the general borrowing, the capitalization sum is
recognized on the weighted average of, the accumulative assets expenditure above the specific borrowing, and
times the capitalization rate of the appropriation; As for the discount or premium of the borrowing, the discount or
premium to be diluted in every accounting period is recognized in the actual rate method.
The effective interest method is the method for the measurement of the diluted discount or premium or interest
expenses on the actual interest rate; and the actual interest rate is the interest rate used in the discount of the future
cash flow in the expectant duration period as the current book value of the borrowing.
18. Intangible assets
(1) Accounting method, service life and impairment test
1) Accounting method for intangible assets
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: the 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. 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) 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: from contract right or other legal rights, the uncertain service period is stipulated in the
contract or law; 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.
(2) Accounting policy of the internal R&D expenditure
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19. Long-term investment impairment
Long-term equity investments, investment properties measured at cost and long-term assets such as fixed assets,
construction in progress, productive biological assets at cost method, oil and gas assets, intangible assets and
goodwill are tested for impairment if there is any indication that an asset may be impaired at the balance date. If
the result of the impairment test indicates that the recoverable amount of the asset is less than its carrying amount,
a provision for impairment and an impairment loss are recognised for the amount by which the asset’s carrying
amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to
sell and the present value of the future cash flows expected to be derived from the asset. Provision for asset
impairment is determined and recognised on the individual asset basis. If it is not possible to estimate the
recoverable amount of an individual asset, the recoverable amount of a group of assets to which the asset belongs
is determined. A group of assets is the smallest group of assets that is able to generate independent cash inflows.
Goodwill arising from a business combination is tested for impairment at least at each year end, irrespective of
whether there is any indication that the asset may be impaired. For the purpose of impairment testing, the carrying
amount of goodwill acquired in a business combination is allocated from the acquisition date on a reasonable
basis to each of the related asset groups; if it is impossible to allocate to the related asset groups, it is allocated to
each of the related set of asset groups. If the carrying amount of the asset group or set of asset groups is higher
than its recoverable amount, the amount of the impairment loss first reduced by the carrying amount of the
goodwill allocated to the asset group or set of asset groups, and then the carrying amount of other assets (other
than the goodwill) within the asset group or set of asset groups, pro rata based on the carrying amount of each
asset. Once the impairment loss of such assets is recognized, it is not be reversed in any subsequent period.
20. 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. 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.
21. Employees benefits
(1)Accounting for short-term benefits
In the period of employee services, short-term benefits are actually recognized as liabilities and charged to profit
or loss, or if otherwise required or allowed by other accounting standards, to the related costs of assets for the
current period. At the time of actual occurrence, The Company’s employee benefits are recorded into the profits
and losses of the current year or assets associated costs according to the actual amount. The non-monetary
employee benefits are measured at fair value. Regarding to the medical and health insurance, industrial injury
insurance, maternity insurance and other social insurances, housing fund and labor union expenditure and
personnel education that the Company paid for employees, the Company should recognize corresponding
employees benefits payable according to the appropriation basis and proportion as stipulated by relevant
requirements and recognize the corresponding liabilities and include these expenses in the profits or losses of the
current period or recognized as respective assets costs.
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(2) Accounting for post-employment benefits
During the accounting period in which an employee provides service, the amount payable calculated under
defined contribution scheme shall be recognized as a liability and recorded in profit and loss of the current period
or in assets. In respect of the defined benefit scheme, the Company shall use the projected unit credit method and
attribute the welfare obligations calculated using the formula stipulated by the defined benefit scheme to the
service period of the employee, and record the obligation in the current profit and loss or related assets cost.
(3) Accounting for termination benefits
The Company recognizes a liability and expenses in the current profit or loss for termination benefits at the earlier
of the following dates: when the Company can no longer withdraw the offer of those benefits; and when the
Company recognizes costs for restructuring involving the payment of termination costs.
(4) Accounting for other long-term employee benefits.
The Company provides other long-term employee benefits to its employees. For those falling within the scope of
defined contribution scheme, the Company shall account for them according to relevant requirements of the
defined contribution scheme. In addition, the Company recognizes and measures the net liabilities or net assets of
the other long-term employee benefits according to relevant requirements of the defined contribution scheme.
22. Revenue
(1) Sales of goods
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.
The Company mainly conducts seine fisheries sales on sea. In detail, our production vessel directly unloads
fisheries products to the shipping vessel of purchaser. Upon delivery of such products to shipping vessel, parties
from both production vessel and shipping vessel would confirm the unloaded quantity and issue delivery bill (both
parties sign ship receipt); finance department would confirm sales revenue based on ship receipt and sales
contract.
Fisheries products gained from long line fishing by the Company are all shipped back to domestic market for sale.
Our sales department makes external sales by reference to the trading price in Qingshui of Japan. Change in
ownership of cargos is based on sales contract and value determination table. Finance department would confirm
sales revenue based on sales contract and value determination table.
The Company processes aquatic products for domestic sales: Shandong Zhonglu Oceanic (Yantai) Food Co., Ltd.
issues delivery confirmation according to the fax or email orders from domestic customers, then sales staff would
arrange warehouse department to prepare stock and deliver cargos via airline and long trip auto transportation.
Finance department will issue sales invoice according to the delivery bill issued by sales department and signed
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
and confirmed by warehouse department, and confirm sales revenue.
The Company processes aquatic products for overseas sales: once receipt purchase orders from overseas
customers, our international trade department will issue export delivery confirmation and arrange warehouse
department to prepare relevant orders. Once the cargos to be exported is packed and delivered, warehouse
department will sign on the delivery bill issued by international trade department to confirm. Upon completion of
export by unloading cargos on vessels, we will obtain packing slip, delivery order and other export bills issued by
the transportation department and also bill of clearance from custom. Finance department will issued sales invoice
and confirm sales revenue based on delivery bill, packing slip, bill of clearance, etc.
Where amounts of contract or agreement are received in deferred manner and which in fact is of financing nature,
commodity sales revenue shall be recognised based on the fair value of contract or agreement amount receivables.
( 2)Labor service provising
If an enterprise can, on the date of the balance sheet, reliably estimate the outcome of a transaction concerning the
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.
(3)Transition of asset use right
When economic benefits relating to transition of asset use right is likely to inflow into the Company and the
relevant income can be measured reliably, the Company shall recognise such income from transition of asset use
right
23. Government subsidy
(1) Determination basis and accounting treatment for government grants related to assets
Government grant obtained by the Company for the purpose of constructing or otherwise forming long term assets
is recognised as government grant related to assets which will be recognised as deferred income. Deferred income
is averagely allocated against the estimated service life of asset since the asset is available for use, and recorded in
profit or loss for the current period.
(2) Determination basis and accounting treatment for government grants related to income
The government grants other than the government grants related to assets are recognized as government grants
related to income. Government grants related to income shall be treated as follows: those used to compensate
relevant expenses or losses to be incurred by the enterprise in subsequent periods are recognized as deferred
income and recorded in profit and loss for the current period when such expenses are recognized; and those used
66
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
to compensate relevant expenses or losses that have been incurred by the enterprise are recorded directly in profit
or loss for the current period.
24. Deferred income tax asset and deferred income tax liability
(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
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.
25. Leasing
(1) Accounting treatment for operating lease
Accounting treatment for operating lease: Operating lease payments are recognized on a straight-line basis over
the term of the relevant lease, and are either included in the cost of related asset or charged to profit or loss for the
period.
(2) Accounting treatment for finance lease
Accounting treatment for finance lease: At the commencement of the lease term, the Group records the leased
asset at an amount equal to the lower of the fair value of the leased asset and the present value of the minimum
lease payments. The difference between the recorded amounts is accounted for as unrecognized finance charge,
using the effective interest method amortization during the lease term. Minimum lease payments deducting
unrecognized financing charges are listed as long-term payables.
26. Other important accounting policy and estimation
The ministry of finance amended and newly issued Accounting Standards for Business Enterprises No.2 –
67
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Long-term Equity Investment and other seven accounting standards in 2014, standards other than Accounting
Standards for Business Enterprises No.37 –Presentation of Financial Instruments which has been implemented for
2014 and subsequent periods started to implement in those enterprises which were subject to Accounting
Standards for Business Enterprises since 1 July 2014. The Company re-determined certain accounting policies
according the requirements of the standards and restated 2014 comparative financial statements by retrospection
adjustment method.
According to Accounting Standards for Business Enterprises No.2 – Long-term Equity Investment, the Company
re-measured those equity investment where it owned no control, common control and significant influence and
which was not quoted in active market as financial assets available for sale at cost method. According to
Accounting Standards for Business Enterprises No.30 –Presentation of Financial Statements, the Company
presented government grant originally presented in other non-current liabilities as deferred income, and presented
foreign currency financial statement translation difference in other comprehensive income. According to the
amended Accounting Standards for Business Enterprises No.9–Staff Remuneration, remuneration expenditure
with payment period over one year for early-retired and disabled staff was included in long-term remuneration
payables.
27. Changes in important accounting policies and estimates
(1) Changes in important accounting policies
□ Applicable √ Not applicable
(2) Changes in important accounting estimates
□ Applicable √ Not applicable
VI. Taxes
1. Major tax and tax rate:
Taxes Taxation basis Tax rate
Output tax minor the deductible
VAT 17%, 13%, 6%
input tax
Business tax Income from leasing 5%
Urban maintenance and construction
Turnover taxes payable 7%
tax
Corporate income ax Taxable amount 25%
Educational surtax Turnover taxes payable 3%
Local educational surtax Turnover taxes payable 2%
Explain the different taxation entity of the enterprise income tax
68
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Taxation entity Income tax rate
2. Preferential tax
(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.
VII. Notes to main items in consolidated financial statement
1. Monetary fund
In RMB
Item Ending balance Opening balance
Cash on hand 1,076,478.61 817,698.32
Bank deposit 37,398,176.21 43,373,129.70
Other monetary fund 3,530,882.93 789,383.02
Total 42,005,537.75 44,980,211.04
Other explanation
2. Derivative financial assets
□ Applicable √ Not applicable
3. Account receivable
(1) Category of account receivable
In RMB
Ending balance Opening balance
Category
Book balance Bad debt provision Book Book balance Bad debt provision Book value
69
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Proportio Accrual value Proportio Accrual
Amount Amount Amount Amount
n ratio n ratio
Account receivable
with bad debt 46,545,1 7,045,21 39,499,92 32,444, 7,048,225 25,395,972.
16.44% 100.00% 21.72%
provision accrual by 47.69 7.91 9.78 198.22 .95 27
portfolio
46,545,1 7,045,21 39,499,92 32,444, 7,048,225 25,395,972.
Total
47.69 7.91 9.78 198.22 .95 27
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
Ending balance
Account age
Account receivable Bad debt provision Accrual ratio
Sub-item of within one year
Including: 1-6 months 40,715,895.20 1,341,761.51 5.00%
6-12 months 139,197.15 13,919.72 10.00%
1-2 years 30.00%
2-3 years 1,037.33 518.67 50.00%
Over three years 5,689,018.01 5,689,018.01 100.00%
Total 46,545,147.69 7,045,217.91
Explanation on portfolio basis:
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:
(2) Bad debt provision accrual, switch-back or taken back in the period
Amount accrual in the Period; amount switch-back or taken back in the Period
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch back or taken back Way
(3) Account receivables actually written-off during the reporting period
In RMB
Item Amount verified
70
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Including major account receivables written-off:
In RMB
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on account receivable written-off :
(4) Top five receivables collected by arrears party at ending balance
Company Ending balance Ending balance and ratio of the Bad debt provision
total ending balance of balance
receivables (%)
Tokyo Corporation 16,273,044.16 49.24% 423,170.82
Hong Kong Luen Thai Seafood 6,845,089.66 19.11% 178,002.48
Singapore- Zhao Qun 5,312,797.36 14.83% 138,156.13
PACIFIC PANDA,INC 3,600,962.12 10.05% 3,600,962.12
CORAL TRIANGLE PROCESSORS 1,016,979.28 2.84% 118,667.95
(5) Account receivables derecognized due to financial assets transfer
(6) Transfer the account receivable and assets & liabilities arising from further involvement
Other explanation:
4. Prepayments
(1) Prepayments listed by account age
In RMB
Ending balance Opening balance
Account age
Amount Proportion Amount Proportion
Within one year 41,468,269.34 100.00% 29,278,905.45 100.00%
Total 41,468,269.34 -- 29,278,905.45 --
Explanation on prepayments with over one year in age and reasons of un-settle:
(2) Top 5 prepayments collected by objects at ending balance
Company Relations with Closing amount Ratio in total
Company prepayment %
Penglai Jingyuan Food Co., Ltd. Supplier 5,900,000.00 14.23%
71
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Rongcheng Oceanic Fishery Co., Ltd. Supplier 3,800,000.00 9.16%
Rongcheng Mashan Fishery Co., ltd. Supplier 3,000,000.00 7.23%
Shandong Lidao Oceanic Technology Co., Supplier 3,000,000.00 7.23%
Ltd.
Shandong Shawo Island Oceanic Fishery Supplier 2,647,561.00 6.38%
Co., Ltd.
Total —— 18,347,561.00 44.24%
Other explanation:
5. Other account receivable
(1) Category of other account receivable
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Proportio Accrual Proportio Accrual Book value
Amount Amount value Amount Amount
n ratio n ratio
Other account
receivable with bad 12,792,7 4,530,85 8,261,901 12,146, 4,532,337 7,613,670.6
100.00% 37.32%
debt provision 52.87 0.98 .89 008.44 .82 2
accrual by portfolio
12,792,7 4,530,85 8,261,901 12,146, 4,532,337 7,613,670.6
Total
52.87 0.98 .89 008.44 .82 2
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
Ending balance
Account age
Other account receivable Bad debt provision Accrual ratio
Sub-item of within one year
Within six months 4,176,067.83 181,614.74
6 months to 1 year 152,090.47 15,209.05
Subtotal Within one year 4,328,158.30
1-2 years 164,513.76 49,354.13
2-3 years 38,381.13 19,190.57
Over three years 4,265,482.50 4,265,482.50
72
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Total 8,796,535.69 4,530,850.98
Explanation on portfolio basis:
Withdrawing bad bed provision by percentage of total other accounts receivable outstanding in portfolio
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
√ Applicable □ Not applicable
Portfolio Ending Opening
Book balance Accrual Bad debt Book balance Accrual ratio Bad debt
ratio provision % provision
%
Riskless portfolio 3996217.18 1,000,000.00
Total 3996217.18 1,000,000.00
(2) Bad debt provision accrual, switch-back or taken back in reporting period
Amount accrual in the Period; amount switch-back or taken back in the Period
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch-back or taken back Way
(3) Other receivables actually written-off during the reporting period
In RMB
Item Amount verified
Including major other account receivables written-off:
In RMB
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on write-off of other receivables:
(4) Classify according to nature
In RMB
Nature Ending book balance Opening book balance
Refunds receivables 1,763,631.75 2,516,977.89
Margin 3,076,715.64 2,270,000.00
73
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Insurance claims payment receivable 351,655.81 351,655.81
Transactions and others 7,600,749.67 7,007,374.74
Total 12,792,752.87 12,146,008.44
(5) top 5 other receivables collected by arrears party at ending balance
In RMB
Proportion in total
Ending balance of
Company Nature Ending balance Account age other receivables at
bad debt provision
year-end
(6)Account receivable involved government subsidies
In RMB
Time, amount and basis
Company Government subsidies Ending balance Ending account age
estimated to received
(7) Other account receivables derecognized due to financial assets transfer
(8) Transfer the other account receivable and assets & liabilities arising from further involvement
Other explanation:
6. Inventory
(1) Category of inventory
In RMB
Ending balance Opening balance
Item Provision for Provision for
Book balance Book value Book balance Book value
price fall-down price fall-down
Raw materials 96,424,979.95 146,312.87 96,278,667.08 97,293,304.24 146,312.87 97,146,991.37
Inventory 138,535,834.15 5,235,952.08 133,299,882.07 108,084,914.82 16,849,588.00 91,235,326.82
Revolving
966,531.62 132,998.30 833,533.32 1,488,135.64 132,998.30 1,355,137.34
material
Total 235,927,345.72 5,515,263.25 230,412,082.47 206,866,354.70 17,128,899.17 189,737,455.53
(2) Provision for price fall-down
In RMB
Items Opening balance Current increased Current decreased Ending balance
74
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Switch back or
Accrual Other Other
Written-off
Raw materials 146,312.87 146,312.87
Inventory 16,849,588.00 11,613,635.92 5,235,952.08
Revolving
132,998.30 132,998.30
material
Total 17,128,899.17 11,613,635.92 5,515,263.25
(3) Explanation on capitalization of borrowing costs in ending balance of inventory
(4) Assets completed without settle resulted by construction contract at period-end
In RMB
Items Amount
Other explanation:
7. Other current assets
In RMB
Items Ending balance Opening balance
Input VAT 10,268,965.04 8,365,709.75
Income tax prepaid 88,480.55 88,480.55
Other tax prepaid 134,581.25
Total 10,357,445.59 8,588,771.55
Other explanation:
8. Finance asset available for sales
(1)Finance asset available for sales
In RMB
Ending balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Equity instrument available
33,000,000.00 33,000,000.00 33,000,000.00 33,000,000.00
for sales:
Measured by cost 33,000,000.00 33,000,000.00 33,000,000.00 33,000,000.00
Total 33,000,000.00 33,000,000.00 33,000,000.00 33,000,000.00
75
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(2) Finance asset available for sales measured by fair value at period-end
In RMB
Equity instrument Debt instrument
Category Total
available for sale available for sale
(3) Finance asset available for sales measured by cost at period-end
In RMB
Book balance Impairment provision Cash
Invested Holding dividend
period-beg Increase in Decrease period-beg Increase in Decrease proportion in
Unit period-end period-end invested unit for the
in the year in the year in the year in the year
year
Equity
investment
33,000,000 33,000,000 33,000,000 33,000,000
- South
.00 .00 .00 .00
Securities
Co., Ltd.
33,000,000 33,000,000 33,000,000 33,000,000
Total --
.00 .00 .00 .00
(4) Impairment reserve of finance asset available for sales
In RMB
Equity instrument Debt instrument
Category Total
available for sale available for sale
Balance of accrual
impairment at 33,000,000.00
period-begin
Balance of accrual
33,000,000.00
impairment at period-end
(5) Explanation on closing fair value of equity instrument available for sale which was down sharply or
other-than-temporary drop without accrual the impairment provision
In RMB
Decline changes
Time to drop Accrual
Equity instrument of fair value Reasons without
Investment cost Ending fair value continuously impairment
available for sale comparing with accrual
(month) amount
its costs
Other explanation
76
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
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 dated 16 August 2006, 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.
9. Investment real estate
(1) Investment real estate measure on cost
√ Applicable □ Not applicable
In RMB
Items House and buildings Land use right Construction in progress Total
I. original book value
1.Opening balance 47,120,794.80 47,120,794.80
2.Current increased
(1) Outsourcing
(2) Transfer from
inventory\ fixed
assets\Construction in
progress
(3)Increased by
enterprise combination
3.Current decreased
(1)Disposal
(2)Other
transfer-out
4.Ending balance 47,120,794.80 47,120,794.80
II. Total accumulative
depreciation and
amortization
1.Opening balance 11,458,559.52 11,458,559.52
2.Current increased 609,332.76 609,332.76
(1)Accrual or
609,332.76 609,332.76
amortization
3.Current decreased
77
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(1)Disposal
(2)Other
transfer-out
4.Ending balance 12,067,892.28 12,067,892.28
III. Impairment provision
1.Opening balance 886,512.06 886,512.06
2.Current increased
(1)Accrual
3. Current decreased
(1)Disposal
(2)Other
transfer-out
4.Ending balance 886,512.06 886,512.06
IV. Book value
1. Ending book
34,166,390.46 34,166,390.46
value
2. Opening book
34,775,723.22 34,775,723.22
value
(2) Investment real estate measure on fair value
□ Applicable √ Not applicable
(3) Investment real estate without property certificate completed
In RMB
Items Book value Reasons
Pursuant to the Debt Compensation
Opinion entered into between the
Company and Shandong Aquatic Products
Group in April 2006 and the civil verdict
House and building 33,994,222.85 issued by People Court of Lixia district of
Jinan city (2005 LZZDi-1299), the
comprehensive office building owned by
Shandong Aquatic Products Group at
No.43, Heping road, Lixia District, Jinan
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
with original value of RMB54,221,197.05
(among which, RMB9,592,434.61 was
recorded as fixed assets and others were
recorded as investment property) was ruled
to be vested to the Company, so as to
compensate the relevant debts. Building
ownership transfer has not been registered
yet; management of the Company is in the
process of making active coordination
among various parties seeking for early
completion of such registration.
Other explanation
10. Fixed assets
(1) Fixed assets
In RMB
House and Vessel and netting Machine Transportation Furniture and
Items Total
building gear equipment equipment office equipment
I. original book
value:
1.Opening
74,047,364.66 469,007,734.69 32,328,693.35 6,423,090.54 9,659,001.08 591,465,884.32
balance
2.Current
831,512.83 95,744,052.02 4,361,107.68 181,196.58 527,568.53 101,645,437.64
increased
0.00 395,575.32 4,361,107.68 181,196.58 527,568.53 5,465,448.11
(1)purchasing
(2)Construction
831,512.83 95,348,476.70 0.00 0.00 0.00 96,179,989.53
in progress
transfer-in
(3) Increased
by enterprise
combination
3.Current
0.00 95,348,476.70 163.60 0.00 0.00 95,348,640.30
decreased
(1)disposal
0.00 95,348,476.70 163.60 0.00 0.00 95,348,640.30
or scrapping
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
4.Ending
74,878,877.49 456,396,914.64 42,041,068.18 6,209,171.00 10,493,748.23 597,762,681.66
balance
II. accumulative
depreciation
1.Opening
16,238,002.60 133,576,455.65 11,415,218.43 3,711,487.24 7,356,908.47 172,298,072.39
balance
2.Current
1,490,593.78 22,953,702.01 905,280.30 450,456.38 209,441.20 26,009,473.68
increased
(1)Accrual 1,490,593.78 22,953,702.01 905,280.30 450,456.38 209,441.20 26,009,473.68
3.Current
0.00 7,503,849.90 0.00 0.00 0.00 7,503,849.90
decreased
(1)disposal
0.00 7,503,849.90 0.00 0.00 0.00 7,503,849.90
or scrapping
4.Ending
17,728,596.38 147,585,004.78 12,320,498.73 3,902,935.92 7,741,247.49 190,803,696.17
balance
III. Impairment
provision
1.Opening
7,571,580.00 7,571,580.00
balance
2.Current
increased
(1)Accrual
3.Current
decreased
(1)disposal
or scrapping
4.Ending
7,571,580.00 7,571,580.00
balance
IV. Book value
1. Ending book
57,150,281.11 308,811,909.86 29,720,569.45 2,306,235.08 2,752,500.74 399,387,405.49
value
2. Opening
57,809,362.06 327,859,699.04 20,913,474.92 2,711,603.30 2,302,092.61 411,596,231.93
book value
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(2) Temporary idle fixed assets
In RMB
Depreciation Impairment
Items Original book value Book value Note
accumulative provision
(3) Fixed assets leasing-in by financing lease
In RMB
Depreciation
Items Original book value Impairment provision Book value
accumulative
(4) Fixed assets leasing-out by operational lease
In RMB
Items Ending book value
(5) Fixed assets without property certificate obtained
In RMB
Items Book value Reasons for certificate un-settled
Pursuant to the Debt Compensation
Opinion entered into between the
Company and Shandong Aquatic Products
Group in April 2006 and the civil verdict
issued by People Court of Lixia district of
Jinan city (2005 LZZDi-1299), the
comprehensive office building owned by
Shandong Aquatic Products Group at
No.43, Heping road, Lixia District, Jinan
with original value of RMB54,221,197.05
House and building 7,304,125.69 (among which, RMB9,592,434.61 was
recorded as fixed assets and others were
recorded as investment property) was ruled
to be vested to the Company, so as to
compensate the relevant debts. Building
ownership transfer has not been registered
yet; management of the Company is in the
process of making active coordination
among various parties seeking for early
completion of such registration.
Other explanation
81
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
11. Construction in progress
(1)Construction in progress
In RMB
Ending balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Cold storage 19,600,245.15 19,600,245.15 18,511,970.07 18,511,970.07
Atlantic fencing 4,041,181.42 4,041,181.42 3,973,534.07 3,973,534.07
Tailong 1netting
612,900.00 612,900.00
gear
Total 24,254,326.57 24,254,326.57 22,485,504.14 22,485,504.14
(2) Changes of major project in progress
In RMB
Accumul
Proporti Includin
ative
on of g:
Transfer Other amount
Opening Current Ending project Work interest Capitaliz Capital
Item Budget to fixed decreasin of
balance increased balance investme progress capitaliz ing rate resources
assets g interest
nt in ation in
capitaliz
budget Period
ation
Cold 39,000,0 18,511,9 1,088,27 19,600,2
50.26% Other
storage 00.00 70.07 5.08 45.15
Atlantic
43,840,0 3,973,53 67,647.3 4,041,18
fencing 9.22% Other
00.00 4.07 5 1.42
Items
Tailong
612,900. 612,900.
1netting Other
00 00
gear
Other
82,840,0 22,485,5 1,768,82 24,254,3
Total -- -- --
00.00 04.14 2.43 26.57
(3) Impairment provision of construction in process accrual in the Period
In RMB
Items Accrual amount Reasons
82
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Other explanation
12. Productive biological assets
(1) Measured by cost
□ Applicable √ Not applicable
(2) Measured by fair value
□ Applicable √ Not applicable
13. oil/gas assets
□ Applicable √ Not applicable
14. Intangible assets
(1) Intangible assets
In RMB
Non-patented
Items Land use right Patent right Computer software Total
technology
I. original book
value
1.Opening
17,154,729.00 165,000.00 17,319,729.00
balance
2.Current
32,000.00 32,000.00
increased
32,000.00 32,000.00
(1)purchasing
(2)internal
R&D
(3)increased
by enterprise
combination
3.Current
decreased
(1)disposal
4.Ending
197,000.00 197,000.00
balance
II. accumulated
83
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
amortization
1.Opening
3,302,161.85 154,856.76 3,457,018.61
balance
2.Current
191,935.08 5,933.30 197,868.38
increased
(1)accrual 191,935.08 5,933.30 197,868.38
3.Current
decreased
(1)disposal
4.Ending
3,494,096.93 160,790.06 3,654,886.99
balance
III. Impairment
provision
1.Opening
balance
2.Current
increased
(1)accrual
3.Current
decreased
(1)disposal
4.Ending
balance
IV. Book value
1. Ending book
13,660,632.07 36,209.94 13,696,842.01
value
2. Opening
13,852,567.15 10,143.24 13,862,710.39
book value
The proportion of intangible assets form by internal R&D in total book value of intangible assets at period-end
(2) Land use right without property certificate completed
In RMB
Items Book value Reasons
84
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Other explanation:
15. Long-term deferred expenditure
In RMB
Items Opening balance Current increased Amortized in Period Other decreased Ending balance
Tool and appliance
amortization
239,658.12 119,829.06 119,829.06
(loading and
unloading)
Total 239,658.12 119,829.06 119,829.06
Other explanation
16. Deferred income tax asset /deferred income tax liability
(1) Deferred income tax assets un-offset
In RMB
Ending balance Opening balance
Items Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
(2) Deferred income tax liabilities un-offset
In RMB
Ending balance Opening balance
Items Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liability differences liability
(3) Amount of deferred income tax asset and deferred income tax liability after trade-off
In RMB
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Items deferred income tax
assets or liabilities after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred income tax
306,828.34 306,828.34
asset
(4) Deferred income tax asset without confirmed
In RMB
85
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Items Ending balance Opening balance
(5) Deductible losses of deferred income tax asset without confirmed will expired in later year
In RMB
Year Closing amount Opening amount Note
Other explanation:
17. Other non-current assets
In RMB
Items Ending balance Opening balance
Land paid in advance 2,000,000.00 2,000,000.00
Construction in progress paid in advance 6,868,187.00 6,868,187.00
Total 8,868,187.00 8,868,187.00
Other explanation:
18. Short-term borrowing
(1) Category of short-term borrowing
In RMB
Items Ending balance Opening balance
Mortgage loan 20,358,198.33 11,054,697.70
Credit loan 37,113,934.36 31,261,626.99
Total 57,472,132.69 42,316,324.69
Explanation on category of short-term borrowing
(2) Short-term loans un-paid by expired
Total short-term loans un-paid by expired at end of the Period was 00 Yuan, including important short-term loans are as:
In RMB
Unit Ending balance Loans rate Overdue time Overdue interest rate
Other explanation:
19. Derivative financial liabilities
□ Applicable √ Not applicable
20. Account payable
(1) Account payable
In RMB
86
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Items Ending balance Opening balance
Within one year (including 1 year) 144,113,014.21 77,136,413.14
Over 1 year 5,090,297.46 4,273,520.53
Total 149,203,311.67 81,409,933.67
(2) Major account payable over one year
In RMB
Items Ending balance Reasons of un-paid or carry-over
Other explanation:
21. Account received in advance
(1) Account received in advance
In RMB
Items Ending balance Opening balance
Within one year (including 1 year) 14,169,056.02 20,787,298.43
Over 1 year 349,863.72 462,363.72
Total 14,518,919.74 21,249,662.15
(2) Major account received in advance with over one year age
In RMB
Items Ending balance Reasons of un-paid or carry-over
(3) Projects un-completed but settled from construction contract at end of the Period
In RMB
Items Amount
Other explanation:
22. Salary payable
(1) Salary payable
In RMB
Items Opening balance Increase in Period Decrease in Period Ending balance
I. Short-term compensation 16,749,497.40 49,925,885.57 51,179,341.55 15,496,041.42
II. Post-employment 3,202,019.81 3,164,674.85 37,344.96
87
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
welfare- defined
contribution plans
III. Dismissal welfare 140,933.82 35,115.43 106,025.22 70,024.03
IV. Other welfare due
56,337.83 56,337.83 0.00
within one year
Total 16,946,769.05 53,163,020.81 54,506,379.45 15,603,410.41
(2) Short-term compensation
In RMB
Decreased during the
Items Opening balance Increase during the year Ending balance
year
1. Wages,bonuses,allowances
15,542,180.52 43,914,455.90 45,354,620.85 14,102,015.57
andsubsidies
2. Welfare for workers
1,534,370.72 1,490,202.37 44,168.35
and staff
3. Social insurance 2,786,887.12 2,768,607.75 18,279.37
Including: Medical
1,359,866.85 1,346,108.19 13,758.66
insurance
Work injury
164,828.15 162,272.97 2,555.18
insurance
Maternity
158,551.32 156,585.79 1,965.53
insurance
4. Housing accumulation
134,340.00 1,306,729.82 1,429,327.82 11,742.00
fund
5. Labor union
expenditure and
1,072,976.88 383,442.01 136,582.76 1,319,836.13
personnel education
expense
Total 16,749,497.40 49,925,885.57 51,179,341.55 15,496,041.42
(3) Defined contribution plans
In RMB
Decreased during the
Items Opening balance Increase during the year Ending balance
year
1. Basic endowment
2,941,326.85 2,905,947.42 35,379.43
insurance
2. Unemployment
160,645.21 158,679.68 1,965.53
insurance
88
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
3. Enterprise annuity 0.00 0.00 0.00
4. Other 100,047.75 100,047.75 0.00
Total 3,202,019.81 3,164,674.85 37,344.96
Other explanation:
23. Tax payable
In RMB
Items Ending balance Opening balance
Value-added tax 431,263.67 551,786.52
Business tax 28,500.00 112,078.67
Enterprise income tax 196,438.90 117,104.60
Individual income tax 61,600.47 133,937.83
Urban maintenance and construction tax 1,995.00 7,845.51
House property tax 320,566.31 228,809.68
Land use tax 166,227.25 166,192.45
Stamp tax 645.00 88,016.04
Educational surtax 855.00 3,362.36
Local educational surtax 570.00 2,241.57
Local water conservancy construction fund 285.00 1,120.78
tariff 3,189.44
Other 6,872.97
Total 1,215,819.57 1,415,685.45
Other explanation:
24. Interest payable
In RMB
Items Ending balance Opening balance
Long-term borrowing interest for
33,395.64
installment
Interest payable for short-term loans 133,672.29
Long-term accounts payable interest for
574,227.50
installment
Total 741,295.43
Interest overdue without paid:
In RMB
Borrower Amount overdue Reasons
89
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Other explanation:
25. Other payable
(1) Classification of other payable according to nature of account
In RMB
Items Ending balance Opening balance
With 1 year 7,966,264.95 3,759,597.34
Over 1 year 3,931,454.35 3,365,063.54
Total 11,897,719.30 7,124,660.88
(2) Significant other payable with over one year age
In RMB
Items Ending balance Reasons of un-paid or carry-over
Other explanation
26. Non-current liabilities due within one year
In RMB
Items Ending balance Opening balance
Long-term loans due within one year 1,900,000.00 15,346,666.66
Deferred income due within one year 433,292.74 866,585.48
Total 2,333,292.74 16,213,252.14
Other explanation:
27. Long-term loans
(1) Classification of long-term loans
In RMB
Items Ending balance Opening balance
Credit loan 1,900,000.00 1,900,000.00
Total 1,900,000.00 1,900,000.00
Explanation on category of long-term loans:
Other explanation, including interest rate section:
6.7650-7.0725
90
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
28. Long-term account payable
(1) Listed by nature
In RMB
Items Ending balance Opening balance
Employee loan 14,630,000.00 14,630,000.00
Other explanation:
In 2014, Shandong Zhonglu Oceanic (Yantai) Food Co., Ltd. invested to establish the wholly-owned subsidiary
Shandong Zhonglu Oceanic Refrigerator Co., Ltd., and raised special borrowing of RMB14,630,000.00 from staff
of each branches and subsidiaries within the consolidation scope of the Company in respect of low temperature
freezer project at annual interest rate of 9.00% with a term of two years commencing from 28 July 2014.
29. Long-term employee payable
(1) Long-term employee payable
In RMB
Items Ending balance Opening balance
I Post-employment benefit – net liability of
493,748.64 509,128.39
the defined benefit plan
III. Other long-term welfare 1,630,191.80 1,271,854.02
Total 2,123,940.44 1,780,982.41
(2) Change of defined benefit plan
Present value of the obligation of defined benefit plan:
In RMB
Items Current amount Amount of the period before
Scheme assets:
In RMB
Items Current amount Amount of the period before
Net liability(assets) of the defined benefit plan
In RMB
Items Current amount Amount of the period before
Contents of defined benefit plan and the risks associate thereof, influences upon the Company’s future cash flow, timing and
uncertainty:
The material actuary assumption and sensitive analysis relating to defined benefit plan is explained as follows:
Other explanation:
91
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
30. Deferred income
In RMB
Increase during the Decreased during the
Items Opening balance Closing balance Causes
year year
Construction special Government subsidy
11,544,200.94 11,544,200.94
funds related to assets
Fiscal ship-building Government subsidy
761,424.64 761,424.64
discount related to assets
Total 12,305,625.58 12,305,625.58 --
Item with government subsidy concerned:
In RMB
Amount reckoned
into
Subsidy increase Assets-related/
Item Opening balance non-operation Other changes Closing balance
during this period Income-related
revenue in the
Period
Other explanation:
31. Share capital
In RMB
Changes in the Period (+,-)
Opening Shares transfer
Issuing new Ending balance
balance Bonus shares from public Other Subtotal
shares
reserves
Total shares 266,071,320.00 266,071,320.00
Other explanation:
32. Capital surplus
In RMB
Items Opening balance Increase in Period Decrease in Period Ending balance
Capital premium (equity
186,356,883.99 186,356,883.99
premium)
Other Capital surplus 94,888,331.97 1,249,736.64 96,138,068.61
Total 281,245,215.96 1,249,736.64 282,494,952.60
Other explanation, including changes and reasons for changes:
92
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
33. Other consolidated income
In RMB
Amount of this period
Less: written in
other
Account comprehensive
Opening Belong to Belong to Ending
Items before income in
balance Less : income parent minority balance
previous period
income tax in and carried tax expense company after shareholders
tax after tax
the year forward to gains
and losses in
current period
(II) Other comprehensive income
items which will be reclassified 52,881.19 2,960.53 2,960.53 55,841.72
subsequently to profit or loss
Translation differences of foreign
52,881.19 2,960.53 2,960.53
financial sheet
Total of other consolidated income 52,881.19 2,960.53 2,960.53 55,841.72
Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial reorganization adjustment for
the arbitraged items:
34. Reasonable reserve
In RMB
Increase during the Decrease during this
Items Opening balance Ending balance
period period
Other explanation, including changes and reasons for changes:
35. Surplus reserves
In RMB
Increase during the Decrease during this
Items Opening balance Ending balance
period period
Statutory surplus
21,908,064.19 21,908,064.19
reserves
Total 21,908,064.19 21,908,064.19
Other explanation, including changes and reasons for changes:
36. Retained profit
In RMB
Items This period Last period
Retained profits at the end of last year before -14,376,699.17 -29,744,691.68
93
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
adjustment
Retained profits at the beginning of the year after
-14,376,699.17 -29,744,691.68
adjustment
Add: The net profits belong to owners of patent
15,367,992.51
company of this period
Retained profit at period-end -25,300,607.16 -14,376,699.17
Details about adjusting the retained profits at the beginning of the period:
1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the retained
profits at the beginning of the period amounting to 0 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the period amounting to 0 Yuan.
3) The major accounting error correction affects the retained profits at the beginning of the period amounting to 0 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the period amounting to 0 Yuan.
5) Other adjustments affect the retained profits at the beginning of the period amounting to 0 Yuan
37. Operating income and cost
In RMB
Amount of this period Amount of last period
Items
Income Cost Income Cost
Main operating 349,194,696.09 341,048,304.67 255,542,481.66 238,212,823.44
Other operating 5,493,023.05 845,220.71 4,474,102.95 913,210.74
Total 354,687,719.14 341,893,525.38 260,016,584.61 239,126,034.18
38. Business tax and surcharges
In RMB
Items Amount of this period Amount of last period
Business tax 100,045.42 65,412.51
City maintenance and construction tax 38,753.32 85,573.82
Educational surtax 27,680.94 61,112.52
House property tax 215,700.00 154,500.00
Other 22,048.16 25,432.11
Total 404,227.84 392,030.96
Other explanation:
39. Sales expenses
In RMB
94
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Items Amount of this period Amount of last period
Payroll payable 584,154.38 489,983.40
Port surcharge 1,812,379.48 983,277.01
Freight and miscellaneous charges 451,630.24 381,004.75
Customs censoring charges 23,037.00 21,041.94
Travelling charge 193,257.50 165,979.96
Business publicity expenses 0.00 25,055.00
Other 109,909.75 72,272.42
Total 3,174,368.35 2,138,614.48
Other explanation:
40. Administrative expenses
In RMB
Items Amount of this period Amount of last period
Payroll payable 10,748,520.38 11,285,018.16
Depreciation 791,900.81 680,995.85
Travelling charge 419,807.65 435,241.76
Business entertainment expenses 663,237.18 435,390.78
Expense of taxation 717,046.16 513,233.53
Vehicles charge 296,841.33 321,127.20
Attorney charge 727,835.60 742,962.80
Office allowance 270,482.59 145,930.58
Property water and electricity 385,176.68 222,890.80
Amortization of intangible assets 191,935.08 122,008.50
Other 1,676,831.27 1,672,578.17
Total 16,889,614.73 16,577,378.13
Other explanation:
41. Financial expenses
In RMB
Items Amount of this period Amount of last period
Interest costs 2,470,646.97 1,529,736.37
Less: interest income 169,697.04 133,915.91
Exchange loss 412,477.29 519,064.60
95
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Less: exchange gains 970,871.64 967,018.35
Handing expense 198,190.28 196,061.67
Other expense 24,095.53 -52,217.84
Total 1,964,841.39 1,091,710.54
Other explanation:
42. Non-operating revenue
In RMB
Amount reckoned in current
Items Amount of this period Amount of last period
non-recurring gains/losses
Including: income from
18,634.61
disposal of fixed assets
Government subsidies 439,542.74 426,198.74 439,542.74
Other 103,190.67 33,748.60 103,190.67
Total 542,733.41 478,581.95 542,733.41
Government subsidy reckoned into current gains/losses:
In RMB
Item Amount of this period Amount of last period Assets-related/income-related
Construction subsidy of Blue
419,104.74 419,104.74 Assets-related
Economic Zone
Specific funds for the economic
and technological cooperation 6,250.00 Income-related
with foreign countries
Finance discount 14,188.00 7,094.00 Assets-related
Total 439,542.74 426,198.74 --
Other explanation:
Note 1. 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, “issued the budget index of the
enterprise for year of 2011” (Yan Kai Cai Yu [2011] No.514) from Yantai Economic and Technological
Development Zone Finance Bureau, the specific index of RMB13,600,000.00 of the Construction of Blue
Economic Zone from Yantai Development Zone Finance Bureau, RMB 6,800,000.00 to the account in 2012 and
RMB 6,800,000.00 to the account in 2013; relevant amount has been reckoned into deferred income while
received by the Company, and amorized by average method based on relevant asset’s predicted rest service life,
the non-operation revenue for year of 2013 amounting to RMB 379,380.10, while RMB 838,209.48 for the year of
2014, and first half of 2015 amounting to RMB 419,104.74
Note2. In accordance with the notice of 2013 budget index of fiscal discount fund for provincial deep-sea fishing
96
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
enterprises Lu Cai Nong Zhi [2013] No.32 printed and issued by Office of Shandong Financial Department dated
25 June 2013, the Company received a financial discount RMB 830,000.00 for year of 2013, the current deferred
income received and amorized by average method based on relevant asset’s predicted rest service life, the
non-operation revenue for year of 2013 amounting to RMB 11,823.36, while RMB 28,376.00 for the year of 2014,
and first half of 2015 amounting to RMB 14,188.00
43. Non-operating expenditure
In RMB
Amount reckoned in current
Items Amount of this period Amount of last period
non-recurring gains/losses
Total income from disposal of
1,745,126.82 291,933.45 1,745,126.82
non-current assets
Including: losses from disposal
1,745,126.82 291,933.45 1,745,126.82
of fixed assets
Foreign donations 1,000.00 1,000.00 1,000.00
Other 6,180.00 6,624.00 6,180.00
Total 1,752,306.82 299,557.45 1,752,306.82
Other explanation:
44. Income tax expenses
(1) Statement of income tax expense
In RMB
Items Amount of this period Amount of last period
Current income tax expense 259,441.63 144,258.54
Total 259,441.63 144,258.54
(2) Adjustment on accounting profit and income tax expenses
In RMB
Items Amount of this period
Total profit -10,848,431.96
Income tax expense 259,441.63
Other explanation
97
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
45. Other comprehensive income
See Note 33
46. Items of statement of cash flow
(1) Other cash received in relation to operation activities
In RMB
Items Amount of this period Amount of last period
Including: financial expense- interest
167,412.00 134,566.40
income
Government subsidy
Financing products expired
Margin expired 3,050.00
Intercourse funds and others 21,415,623.45 8,692,500.57
Total 21,586,085.45 8,827,066.97
Explanation on other cash received in relation to operation activities:
(2) Other cash paid in relation to operation activities
In RMB
Items Amount of this period Amount of last period
Including: sales expenses paid in cash 2,888,318.16 1,775,906.26
Expenses of management cash paid 8,545,389.69 12,193,990.72
Purchase of financial products
LC Margin
Intercourse funds and others 14,966,130.15 5,576,120.43
Total 26,399,838.00 19,546,017.41
Explanation on other cash paid in relation to operation activities:
(3) Cash received from other investment activities
In RMB
Items Amount of this period Amount of last period
Explanation on cash received from other investment activities
(4) Cash paid related with investment activities
In RMB
Items Amount of this period Amount of last period
Explanation on cash paid related with investment activities
(5) Other cash received in relation to financing activities
In RMB
Items Amount of this period Amount of last period
98
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Explanation on other cash received in relation to financing activities
(6) Cash paid related with financing activities
In RMB
Items Amount of this period Amount of last period
Explanation on cash paid related with financing activities:
47. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Supplementary information This Period Last Period
1. Net profit adjusted to cash flow of
-- --
operation activities:
Net profit -11,107,873.59 725,582.28
Add: Assets impairment provision -11,613,635.92 -21,492,419.66
Depreciation of fixed assets, consumption of
oil assets and depreciation of productive 18,505,486.96 13,281,060.26
biology assets
Amortization of intangible assets 197,868.38 122,008.50
Amortization of long-term deferred expenses 119,829.06
Loss from disposal of fixed assets, intangible
assets and other long-term assets(gain is 1,642,496.15 272,933.45
listed with “-”)
Loss of disposing fixed assets (gain is listed
0.00 -1,548.60
with “-”)
Loss of change in fair value (gain is listed
0.00
with “-”)
Financial expenses (gain is listed with “-”) 2,409,131.85 1,235,657.97
Decrease of inventory (increase is listed with
-27,528,427.21 26,242,704.59
“-”)
Decrease of operating receivable accounts
35,522,323.27 16,731,116.39
(increase is listed with “-”)
Increase of operating payable accounts
-4,890,458.65 -35,230,698.91
(decrease is listed with “-”)
Other -164,466.90
Net cash flow arising from operating
3,256,740.30 1,721,929.37
activities
2. Material investment and financing not
-- --
involved in cash flow
3. Net change of cash and cash equivalents: -- --
99
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Balance of cash at period end 42,005,537.75 42,334,283.42
Less: Balance of cash equivalent at
44,980,211.04 53,935,725.66
year-begin
Net increasing of cash and cash equivalents -2,974,673.29 -11,601,442.24
(2)Net cash paid for subsidiary obtained in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
(3)Net cash received from subsidiary disposal in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
(4) Constitution of cash and cash equivalent
In RMB
Items Ending balance Opening balance
Ⅰ. Cash 42,005,537.75 44,980,211.04
Ⅲ. Balance of cash and cash equivalent at
42,005,537.75 44,980,211.04
period-end
Other explanation:
48. Item of foreign currency
(1) Item of foreign currency
In RMB
Closing balance of foreign
Items Rate of conversion Ending RMB balance converted
currency
Monetary fund -- -- 785,078.26
100
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Including: USD 50,244.61 307,175.45
6.1136
EUR 15.00 103.05
6.8699
ZAR 12,000.00 7,000.22
0.58
IDR 858,000.00 511.70
0.00
BRL 1,969.00 5,129.28
2.61
GNF 0.00 0.00
GHS 329,236.15 465,158.56
1.4128
Bank deposit 17,345,366.38
Including: USD 2,763,011.80 16,891,948.94
6.1136
JPY 1,284,239.00 64,278.73
0.050052
EUR 16,645.83 114,355.19
6.8699
SGD 462.09 2,106.21
4.558
GHS 193,001.63 272,677.32
1.4128
Accounts receivable -- -- 33,821,080.38
Including: USD 5,010,170.81 30,630,180.26
6.1136
JPY 63,751,700.50 3,190,900.11
0.050052
Other receivable 69,509.43
Including: USD 11,369.64 6.1136 69,509.43
Other explanation:
(2) Explanation on foreign operational entity, including as for the major foreign operational entity,
disclosed main operation place, book-keeping currency and basis for selection; if the book-keeping
currency changed, explain reasons
√ Applicable □ Not applicable
major foreign operation Foreign main operation Book-keping currency Basis
101
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
entity place
HABITAT Panama CNY The economic enviornment
INTERNATIONAL in the operation sites
CORPORATION
LAIF FISHERIES Garner USD The economic enviornment
COMPANY LIMITED in the operation sites
YAW ADDO FISHERIES Garner USD The economic enviornment
COMPANY LIMITED in the operation sites
VIII. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main operation Share-holding ratio
Subsidiary Registered place Business nature Acquired way
place Directly Indirectly
Shandong
Zhonglu Fishery Shandong Shandong Refrigerated
100.00% Investment
Shipping Co., Qingdao Qingdao transport
Ltd.
Shandong
Zhonglu Oceanic
Shandong Yantai Shandong Yantai Food processing 100.00% Investment
(Yantai) Foods
Co., Ltd.
Shandong
Shandong Shandong
Zhonglu Haiyan Pelagic fishing 81.26% Investment
Qingdao Qingdao
Oceanic Co., Ltd.
HABITAT Panama Panama
INTERNATION Refrigerated
100.00% Investment
AL transport
CORPORATION
YYAW ADDO
Garner Garner Pelagic fishing 100.00% Operating lease
FISHERIES
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
Basis for controlling the invested entity with half or below voting rights held and without controlling invested entity but with over
half and over voting rights:
Controlling basis for the structuring entity included in consolidated range:
Basis on determining to be a agent or consignor:
Other explanation:
102
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(2) Important non-wholly-owned subsidiary
In RMB
Dividend announced to
Share-holding ratio of Gains/losses attributable Ending equity of
Subsidiary distribute for minority in
minority to minority in the Period minority
the Period
Shandong Zhonglu
18.74% -183,965.60 24,371,232.26
Haiyan Oceanic Co., Ltd.
Explanation on share-holding ratio of minority different from ratio of voting right:
Other explanation:
(3) Main finance of the important non-wholly-owned subsidiary
In RMB
Ending balance Opening balance
Subsidia Non-curr Non-curr Non-curr Non-curr
Current Total Current Total Current Total Current Total
ry ent ent ent ent
assets assets liability liability assets assets liability liability
assets liability assets liability
Shandon
g
Zhonglu 46,697,7 100,843, 147,540, 8,934,32 761,424. 9,695,74 43,220,4 15,012,3 58,232,8 7,251,42 7,251,42
Haiyan 19.68 116.82 836.50 4.15 64 8.79 42.84 60.60 03.44 1.94 1.94
Oceanic
Co., Ltd.
In RMB
Amount of this period Amount of last period
Cash flow Cash flow
Total Total
Subsidiary Operation from Operation from
Net profit comprehensi Net profit comprehensi
Income operation Income operation
ve income ve income
activity activity
Shandong
Zhonglu
12,985,795.4
Haiyan 2,337,427.00 -981,673.40 -981,673.40 -3,932,820.05 -2,603,617.99 -2,604,370.81 4,121,172.71
1
Oceanic Co.,
Ltd.
Other explanation:
103
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(4) Use of the corporate funds and major limitation of debt liquidation of the group
(5) Financial supporting or other supports offer to the structured body, which included in consolidation
statement scope
Other explanation:
2. Transaction that has owners equity shares changed in subsidiary but still with controlling rights
(1) Owners equity shares changed in subsidiary
(2) Impact on minority’s interest and owners’ equity attributable to parent company
In RMB
Other explanation
3. Equity in joint venture and cooperative enterprise
(1) Important joint venture and cooperative enterprise
Share-holding ratio Accounting
treatment on
Main operation investment for
Name Registered place Business nature
place Directly Indirectly joint venture and
cooperative
enterprise
Share-holding ratio or shares enjoyed different from voting right ratio:
Basis of the voting rights with 20% below but with major influence, or without major influence but with over 20% (20% included)
voting rights hold:
(2) Main financial information of the important joint venture
In RMB
Ending balance /Amount of this period Opening balance /Amount of last period
Other explanation
(3) Main financial information of the important cooperative enterprise
In RMB
104
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Ending balance /Amount of this period Opening balance /Amount of last period
Other explanation
(4) Summary of the financial information for those minor joint venture and affiliates
In RMB
Ending balance /Amount of this period Opening balance /Amount of last period
Joint venture: -- --
Total of the items counted by share-holding
-- --
ratio
Cooperative enterprise: -- --
Total of the items counted by share-holding
-- --
ratio
Other explanation
(5) Major limitation of the capital transfer to the Company from joint venture or affiliates
(6)Excess deficit arising from joint venture or affiliates
In RMB
Loss un-confirmed in the Period
Accumulative loss Accumulative loss confirmed at
Joint venture or affiliates (or net profit shared in the
un-confirmed previous period-end
Period)
Other explanation
(7)Un-confirmed commitment with joint venture investment concerned
(8)Contingency with investment of joint venture investment concerned
4. Major co-management
Share-holding ratio /shares enjoyed
Name Main operation place Registered place Business nature
Directly Indirectly
Explanation on difference of the voting rights over share-holding or share enjoyed in co-management:
As for the independent entity, basis of co-management classification:
Other explanation
5. Equity of structured entity that out of the consolidated financial statement scope
Explanation on structured entity that out of the consolidated statement scope:
105
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
6. Other
IX. Related party and related transactions
1. Parent company of the enterprise
Share-holding ratio
Voting right ratio on
Parent company Registration place Business nature Registered capital on the enterprise for
the enterprise
parent company
Investment and
Shandong management,
State-owned Assets management and
Jinan Shandong RMB 4,500,000,000 33.07% 33.07%
Investment Holdings operation of assets,
Co., Ltd. managed operations,
investment advisory
Explanation on parent company of the enterprise
Ultimate controller of the Company is Shandong State-owned Assets Investment Holdings Co., Ltd.
Other explanation:
2. Subsidiary of the Enterprise
Found more in Note VIII. 1.” Equity in subsidiary”
3. Cooperative enterprise and joint venture
Found more in Note.
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in previous
period
Name Relationship
Other explanation
4. Other related party
Other related party Relationship with the Enterprise
Luxin Investment Holding Company Limited Shareholders with over 5% shares held
Other explanation
106
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Whether over the
Amount of this Trading limit
Related party Content approved limited or Amount of last period
period approved
not
Goods sold/labor service providing
In RMB
Related party Content Amount of this period Amount of last period
Explanation on goods purchasing, labor service providing and receiving
(2)Related trusteeship management/contracts and entrusted management/outsourcing
Statement of trusteeship management/contract:
In RMB
Managed
Managed
earnings
Client/Contract-o Entrusting Trustee/assts earnings /pricing
Trustee /start Trustee /ends confirmed in the
ut party party/Contractor contract of the contract
period / contract
earnings
earnings
Related managed/contract:
Entrusted management/outsourcing:
In RMB
Entrusted
Trustee fee / earnings
Client/Contract-o Entrusting Entrust /assets
Entrust /start Entrust /ends pricing of the confirmed in the
ut party party/Contractor outsourcing
outsourcing period /
outsourcing costs
Related management/ outsourcing:
(3) Related lease
As a lessor for the Company:
In RMB
Lease income in recognized in Lease income in recognized last
Lessee Assets type
the Period the Period
As a lessee for the Company:
107
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
In RMB
Lease income in recognized in Lease income in recognized last
Lessor Assets type
the Period the Period
Explanation on related lease
(4) Related guarantee
As the guarantor
In RMB
Secured party Amount guarantee Start End Completed or not (Y/N)
As the secured party
In RMB
Guarantor Amount guarantee Start End Completed or not (Y/N)
Explanation on related guarantee
(5) Related party’s fund loan
In RMB
Related party Fund loan Start End Note
Borrowing
Lending
(6) Related party’s assets transfer and debt reorganization
In RMB
Related party Content Amount of this period Amount of last period
(7) Remuneration of key manager
In RMB
Items Amount of this period Amount of last period
Li Wenyi 342,864.00 286,800.00
Chi Weizhen 296,183.00 246,760.00
Song Wenjian 273,263.00 230,960.00
Zhou Feng 212,943.00 230,960.00
Li Ming 273,263.00 230,960.00
Zhang Weiping 273,263.00 230,960.00
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(8) Other related transactions
6. Receivable/payable items of related parties
(1) Receivable item
In RMB
Ending balance Opening balance
Item Related party
Book balance Bad debt reserves Book balance Bad debt reserves
Shandong Zhonglu
Other receivable Fishery Shipping 24,714,718.67 24,714,718.67
Co., Ltd.
LAIF FISHERIES
Other receivable COMPANY 147,069.65 131,276.21
LIMITED
YAW ADDO
Other receivable FISHERIES 7,734,887.47 7,709,976.22
CO.,LTD
YAW ADDO
Long term
FISHERIES 7,236,525.26 6,874,109.21
receivable
CO.,LTD
Shandong Zhonglu
Account receivable Oceanic (Yantai) 2,000,000.00 1,948,835.00
Foods Co., Ltd.
(2) Payable item
In RMB
Item Related party Ending book balance Opening book balance
Habitat International
Other payables 10,641,695.68 14,406,939.79
Corporation
Shandong Zhonglu Haiyan
Other payables 8,899,848.34 26,047,415.63
Oceanic Co., Ltd.
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山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
7. Commitments of related party
8. Other
X. Share-based payment
1. Share-based payment
□ Applicable √ Not applicable
2Share-based payment settled by equity
□ Applicable √ Not applicable
3. Share-based payment settled by cash
□ Applicable √ Not applicable
4. Amendment and termination of the share-based payment
5. Other
XI. Principle notes of financial statements of parent company
1. Accounts receivable
(1)Category of account receivable
In RMB
Ending balance Opening balance
Book balance Bad debt reserves Book balance Bad debt reserves
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Account receivable
with bad debt 7,690,05 6,080,37 1,609,676 15,455, 6,080,378 9,375,347.4
100.00% 39.34%
provision accrual by 5.34 8.46 .88 725.90 .46 4
portfolio
7,690,05 6,080,37 1,609,676 15,455, 6,080,378 9,375,347.4
Total 100.00% 39.34%
5.34 8.46 .88 725.90 .46 4
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
110
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
In RMB
Ending balance
Account age
Account receivable Bad debt reserves Accrual ratio
Sub-item of within one year
2-3 years 1,037.33 518.67 50.00%
Over three years 5,689,018.01 6,079,859.79 100.00%
Total 5,690,055.34 6,080,378.46
Explanation on portfolio basis:
In combination, withdrawal proportion of bad debt provision based on balance proportion for account receivable:
□ Applicable √ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for account receivable:
Portfolio Ending Opening
Book balance Accrual ratio Bad debt Book Accrual ratio Bad debt
% reserves balance % reserves
Risk-free portfolio 2000000.00 1,948,835.00
Total 2000000.00 1,948,835.00
(2)Bad debt provision accrual, switch-back or taken back in reporting period
Amount accrual in the Period; amount switch-back or taken back in the Period 。
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch back or taken back Way
(3) Account receivables actually written-off during the reporting period
In RMB
Items Amount verified
Including major account receivables written-off:
In RMB
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on account receivable written-off :
111
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(4)Top five receivables collected by arrears party at ending balance
Company Ending balance Ratio in ending balance of Balance of bad debt
account receivable (%) provision
PANDA 3600962.12 47% 3600962.1
Haifeng Company 430625.10 6% 430625.10
Wholesale dept. 158154.98 2% 158154.98
Daqun 156875.50 2% 156875.50
Han Xue 293209.20 4% 293209.20
(5)Account receivables derecognized due to financial assets transfer
(6)Transfer the account receivable and assets & liabilities arising from further involvement
Other explanation:
2. Other accounts receivable
(1)Category of other account receivable
In RMB
Ending balance Opening balance
Book balance Bad debt reserves Book balance Bad debt reserves
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Other account
receivable with bad 42,141,9 3,556,33 38,585,64 37,625, 3,556,332 34,069,621.
100.00% 9.45%
debt provision 72.32 2.05 0.27 953.95 .05 90
accrual by portfolio
42,141,9 3,556,33 38,585,64 37,625, 3,556,332 34,069,621.
Total 100.00% 9.45%
72.32 2.05 0.27 953.95 .05 90
112
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
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
Ending balance
Account age
Other receivable Bad debt reserves Accrual ratio
Sub-item of within one year
1-6 months 1,710,357.07 96,586.81 0.00%
6-12 months 421,693.57 42,169.36 10.00%
Subtotal within one year 2,132,050.64 138,756.17
1-2 years 59,977.98 17,993.39 30.00%
2-3 years 0.00
Over three years 3,399,582.49 3,399,582.49 100.00%
Total 5,591,611.11 3,556,332.05
Explanation on portfolio basis:
In combination, withdrawal proportion of bad debt provision based on balance proportion for other account receivable
□ Applicable √ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for other account receivable
√ Applicable □ Not applicable
Portfolio Ending Opening
Book balance Accrual Book balance Accrual
Bad debt Bad debt
ratio ratio
reserves reserves
% %
Risk-free portfolio 36550361.21 32,555,971.10
Total 36550361.21 32,555,971.10
(2)Bad debt provision accrual, switch-back or taken back in reporting period
Amount accrual in the Period; amount switch-back or taken back in the Period
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch-back or taken back Way
(3)Other receivables actually written-off during the reporting period
In RMB
113
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Items Amount verified
Including major other account receivables written-off::
In RMB
Occurred due to
Nature of other
Company Amount verified Reasons Verified procedures related transaction
receivables
(Y/N)
Explanation on write-off of other receivables:
(4) Other receivables by nature
In RMB
Nature Ending book balance Opening book balance
Internal transactions in the Company 36,550,361.21 32,555,971.10
Payment of claims of the People’s Insurance
351,655.81 351,655.81
Company of China (PICC)
Petty cash and other 5,239,955.30 4,718,327.04
Total 42,141,972.32 37,625,953.95
(5) top 5 other receivables collected by arrears party at ending balance
In RMB
Proportion in total
Ending balance of
Company Nature Ending balance Account age other receivables at
bad debt provision
year-end
Shandong Zhonglu
Internal transactions
Fishery Shipping Co., 24,714,718.67 Over three years 58.65%
in the Company
Ltd.
YAW ADDO
FISHERIES Internal transactions
7,730,675.08 Over three years 18.34%
COMPANY in the Company
LIMITED
HABITAT(USD Internal transactions
3,765,244.11 1-6 months 8.93% 17,582.79
account) in the Company
PANDA Current money 3,600,962.12 Over three years 8.54% 3,600,962.12
PICC Payment of claims 351,655.81 1-6 months 0.83% 17,582.79
Total -- 40,163,255.79 -- 3,636,127.70
(6)Account receivable involved government subsidies
In RMB
114
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Time, amount and basis
Company Name Ending balance Ending account age
estimated to received
(7)Other account receivables derecognized due to financial assets transfer
(8)Transfer the other account receivable and assets & liabilities arising from further involvement
Other explanation:
3. Long-term equity investment
In RMB
Ending balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for
204,189,455.23 204,189,455.23 118,779,655.23 118,779,655.23
subsidiary
Total 204,189,455.23 204,189,455.23 118,779,655.23 118,779,655.23
(1) Investment for subsidiary
In RMB
Ending balance of
Increase during Decrease during Impairment
Invested Unit Opening balance Ending balance impairment
the period this period accrual
provision
HABITAT
INTERNATIONA 12,476,145.60 12,476,145.60
L CORP.
Shandong Zhonglu
Fishery Shipping 22,869,513.38 22,869,513.38
Co., Ltd.
Shandong Zhonglu
Oceanic (Yantai) 55,448,185.24 55,448,185.24
Foods Co., Ltd.
Shandong Zhonglu
Haiyan Oceanic 27,985,811.01 85,409,800.00 113,395,611.01
Co., Ltd.
Total 118,779,655.23 85,409,800.00 204,189,455.23
115
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(2) Investment for associates and joint venture
In RMB
+,-
Ending
Other Cash
Investme balance
Additiona comprehe dividend
Opening nt gains Other Ending of
Company l Capital nsive or profit Impairme
balance recognize equity Other balance impairme
investmen reduction income announce nt accrual
d under change nt
t adjustmen d to
equity provision
t issued
I. Joint venture
II. Associated enterprise
(3)Other explanation
4. Operating income and cost
In RMB
Amount of this period Amount of last period
Items
Income Cost Income Cost
Main business 60,142,948.45 79,680,568.10 107,599,036.19 111,189,202.42
Other business 3,422,883.22 845,220.71 3,033,875.69 913,210.74
Total 63,565,831.67 80,525,788.81 110,632,911.88 112,102,413.16
Other explanation:
5. Investment gains
In RMB
Items Amount of this period Amount of last period
6. Other
XII. Supplementary Information
1. Current non-recurring gains/losses
√ Applicable □ Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of -1,745,126.82
116
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
non-current asset
Governmental subsidy reckoned into current
gains/losses (not including the subsidy
enjoyed in quota or ration according to 439,542.74
national standards, which are closely
relevant to enterprise’s business)
Other non-operating income and expenditure
96,010.67
except for the aforementioned items
Less: Impact on income tax 259,441.63
Total -1,469,015.04 --
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. REO and earnings per share
Earnings per share
Profits during report period Weighted average ROE Diluted EPS
Basic EPS (RMB/Share)
(RMB/Share)
Net profits belong to common stock
-1.99% -0.04 -0.04
stockholders of the Company
Net profits belong to common stock
stockholders of the Company after
-1.72% -0.04 -0.04
deducting nonrecurring gains and
losses
3. Difference of the accounting data under accounting rules in and out of China
(1) Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
117
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
(3) Explain accounting difference over the accounting rules in and out of China; as for the difference
adjustment for data audited by foreign auditing organ, noted the name of such foreign organ
4. Other
118
山东省中鲁远洋渔业股份有限公司 2015 年半年度报告全文
Section X. Documents available for reference
I. Accounting 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;
II. Original text of all documents of the Company as well as manuscript of the announcement that disclosed on
website appointed by CSRC;
III. Text of 2015 semi-annual report with signature and seal of the legal representative.
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
Chairman: Li Wenyi
22 August 2015
119
