山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
Semi-Annual Report for Year of 2020
August 2020
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section I. Important Notice, Contents and Interpretation
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.
Lu Lianxing, Principal of the Company, Fu Chuanhai, person in charge of accounting works
and Lei Lixin, person in charge of accounting organ (accounting principal) hereby confirm
that the Financial Report of Semi-annual of 2020 Report is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
Certain risks that may exist in the Company’s business operation and countermeasures
adopted by the Company are disclosed in “IX. Risks and countermeasures” in the Section IV.
“Discussion and Analysis on Operation”, which shall be brought to attention of investors.
This report has been prepared in Chinese and English version respectively. In the event of
difference in interpretation between the two versions, Chinese report shall prevail.
The Company has no plans of cash dividend distributed, no bonus shares and has no share
converted from capital reserve either.
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Contents
Semi-Annual Report of 2020 ............................................................................................................. 1
Section I Important Notice, Contents and Interpretation ............................................................ 2
Section II Company Profile and Main Financial Indexes ............................................................. 5
Section III Summary of Company Business .................................................................................. 8
Section IV Discussion and Analysis of Operation ......................................................................... 12
Section V Important Events .......................................................................................................... 23
Section VI Changes in shares and particular about shareholders............................................... 35
Section VII Preferred Stock…………………………………………………… ............................40
Section VIII Convertible Bond……………………………………………....................................41
Section IX Particulars about Directors, Supervisors and Senior Executives ............................. 42
Section X Corporate Bond .............................................................................................................. 43
Section XI Financial Report ............................................................................................................ 44
Section XII Documents available for reference ........................................................................... 149
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Interpretation
Items Refers to Contents
The Company or Company Refers to Shandong Zhonglu Oceanic Fisheries Co., Ltd.
Shandong State-owned Assets Investment Refers to Shandong State-owned Assets Investment Holding Company Limited
State-owned Assets Supervision and Administration Commission of
SASACP Refers to
Shandong Provincial Government
CSRC Refers to China Securities Regulatory Commission
The report Refers to Semi-Annual Report for 2020 compiled by the Company
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section II. Company Profile and Main Financial Indexes
I. Company profile
Short form of the stock Zhonglu-B Stock code 200992
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
山东省中鲁远洋渔业股份有限公司
Chinese)
Short form of the Company
中鲁远洋
(in Chinese if applicable)
Foreign name of the
Shandong Zhonglu Oceanic Fisheries Company Limited
Company (if applicable)
Short form of foreign name
of the Company (if ZLYY
applicable)
Legal representative Lu Lianxing
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Li Ming Li Ying
No. 65 Haier Rd., Laoshan District, No. 65 Haier Rd., Laoshan District,
Contacts add.
Qingdao, Shandong Qingdao, Shandong
Tel. 0532-55717968 0532-55715968
Fax. 0532-55719258 0532-55719258
Email zl000992@163.com zl000992@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 changed in reporting period,
found more in Annual Report 2019
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation
place for semi-annual report have no change in reporting period, found more details in Annual Report 2019.
IV. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √ No
Increase/decrease in this
Current period Same period of last year
report y-o-y (+,-)
Operating revenue (RMB) 375,590,835.67 515,468,659.14 -27.14%
Net profit attributable to shareholders of
16,135,719.93 28,420,094.20 -43.22%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 5,851,649.35 28,012,400.46 -79.11%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-12,171,787.81 -4,240,847.30 -187.01%
activities(RMB)
Basic earnings per share (RMB/Share) 0.06 0.11 -45.45%
Diluted earnings per share (RMB/Share) 0.06 0.11 -45.45%
Weighted average ROE 1.80% 3.48% -1.68%
Increase/decrease in this
End of current period End of last period report-end over that of
last period-end
Total assets (RMB) 1,285,949,450.31 1,288,526,843.80 -0.20%
Net assets attributable to shareholder of
904,641,198.32 887,201,969.69 1.97%
listed company(RMB)
V. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
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山东省中鲁远洋渔业股份有限公司 2020 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
VI. 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
55,893.20
the 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
799,607.83
national standards, which are closely relevant to enterprise’s
business)
Other non-operating income and expenditure except for the
9,428,569.55
aforementioned items
Total 10,284,070.58 --
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
Item Amount (RMB) Reason
Subsidy for exploitation and
The subsidy enjoyed in quota or ration according to national
utilization of international 18,234,412.56
standards, which are closely relevant to enterprise’s business
fishery resources
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section III. Summary of Company Business
I. Main businesses of the company in the reporting period
The Company is a comprehensive fishery enterprise integrated with ocean-going fishing, ocean refrigerated
transport, and refrigeration, processing and trading of aquatic products, its main businesses involve all major
aspects of the industry chain.
During the reporting period, the company’s main business didn’t make any change. Ocean fishing has still been
the main line while refrigerated transport and refrigeration processing trade were the two wings, and they
supported each other and promoted each other, the industrial chain was relatively complete.
1. Ocean fishing
During the reporting period, the Company has a total of 23 vessels for ocean-going fishing, including 14 large
ultra-low temperature tuna long liners, 7 large-scale tuna seiners (units) and 2 medium-sized trawlers, which have
been respectively working in Indian Ocean and the Atlantic Ocean. Firstly, in the long-lining operation, the main
operating area was in the Indian Ocean. In first half of the year, due to the multiple factors such as the
international epidemic, sales volume and sales price of the long-line fishing goods showed a downward trend.
Secondly, in terms of the purse seine fishing, the main operating area was in the Atlantic Ocean. Affected by
epidemic, price of fish in international market gradually declined during the period, and quantity of fish sold
abroad decreased; price of domestic fish was also reduced due to the depreciation of local currency, resulting in a
slight increase in sales while has a income declined slightly; thirdly, ageing of the Ghana trawling project has
resulted in reduced production, revenue from operation decreased correspondingly.
2.Refrigerated transport
During the reporting period, the company’s seven international refrigerated transport vessels were engaged in
operational services, and affected by the epidemic, crew members could not change shifts, which brought hidden
dangers to the safety of the ships and health of the crew; the shore-based personnel were unable to conduct audit
and dock repair, which brought certain difficulties to ship dock repairs. In the face of the adverse situation caused
by epidemic, we strengthen epidemic prevention and control measures and work guidance, put more efforts on
communication between the ships and comfort of crew members, ensure the safety and health of the crew
members and guarantee a safe production to promote development of the enterprise in a high quality way.
3. Refrigeration processing trade
During the reporting period, due to the impact of epidemic, domestic and foreign trade markets shrank severely
and product circulation slowed down. Firstly, affected by global outbreak of COVID-19, the export-oriented
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
processing trade sector is facing a severe situation. A variety of adverse factors, resulting in a large number of
orders canceled, there are no orders for workers, enterprise production and operation have been severely impacted;
secondly, in the period, the business strategy of “determining the procurement based on sales” led to an initial
results in reducing the risks of dead stock; thirdly, overcome difficulties and pressures to actively transform to
field of cooked food; meanwhile, in the period, we actively exploring domestic market by increased the
investment in filed of products research and development, the tuna APP publicity, product advertising and product
promotion.
II. Major changes in main assets
1. Major changes in main assets
Major assets Note of major changes
Equity assets No major change
Decreased 19,891,600 yuan, mainly due to the provision for depreciation and
Fixed assets
scrapping of ships in distress
Intangible assets No major change
Construction in progress No major change
2. Main overseas assets
√Applicable □Not applicable
Ratio of
Control the Whether
measures overseas has major
Assets Operating Earnings
Content Causes Location to ensure assets in impairment
scale mode status
the safety net assets risks or not
of assets of the (Y/N)
Company
HABITAT
INTERNA Vessels and
Established 291,772,54 Independen 21,841,845
TIONAL Panama crew 27.42% N
aboard 7.90 t operation .63
CORPORA insurance
TION
ZHONG A
GHA professiona
Established 173,868,04 Independen
FOODS Ghana l -3,330,505. 16.34% N
aboard 2.22 t operation
COMPAN manageme 15
Y nt team
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
LIMITED overseas
posting,
vessels and
crew
insurance
III. Core competitiveness analysis
The Company is a professional listed enterprise engaged in ocean going fishing, and it is one of the leading
enterprises in the domestic ocean going fishing industry. The company's core competitiveness is mainly reflected in
the following aspects:
Firstly we have a complete industrial chain. The Company is a comprehensive fishery enterprise integrating
pelagic fishing, refrigerated transport, and refrigeration and processing and trading of aquatic products, its main
business involves all key links of industry chain, and the businesses among all operating entities are highly related,
possess the conditions for overall collaborative operation, and provides guarantee for strengthening and extending
the industrial chain strategy.
Secondly we have a reasonable resource development layout. The ocean fishery development resources obtained
by the Company distribute in the Pacific Ocean, Indian Ocean and the open seas and coastal areas of Atlantic. In
particular, tuna seine project is on the right track after many years of exploration and practice. Under the
protection of the strict rules of WCPFC in the western and central Pacific and ICCAT in the Atlantic, the
Company’s tuna seine business can develop steadily.
Thirdly we owns a strong comprehensive management ability. As one of the enterprises engaged in deep-sea
fishing business at the earliest in China, the company starts the production and operation early with high starting
point, and high-quality talents and assets. After many years of professional management, the company has
accumulated a large number of professional talents covering all fields of deep-sea fishing.
Fourthly we has great potential in deep development. The Company has the largest cryogenic refrigerator and raw
food professing plant in China. The China tuna trading center and new-built electronic trading platform system of
tuna strengthened the advantages in tuna processing and trading capacity of the Company. The 30000-ton
ultra-low temperature variable temperature cold storage and supporting facilities of the Zhonglu refrigeration
logistic center have pioneered the use of a number of new technologies and operating well; the “Tuna Research
Center” jointly established with universities and scientific research institutions will play a leading edge in the
depth and breadth of the development and utilization of the tuna value chain.
Fifthly, position of the industry is constantly improving. the distant fishery is parts of “going out” strategy and
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
maritime strategy of the country, and also it is the part of Blue Economic Zone Plans in Shandong Province. The
distant fishery still has a development opportunity in way of depth adjustment. Pelagic fishery products are mainly
out from the deep ocean, which have a favorable market prospect for being pure natural, high-quality and
unconditioned secure;
Sixth, continuous release of policy dividends. The Company’s pelagic fishing production area is in the Atlantic
Ocean and the Indian Ocean, our refrigerated transport has reached most of the world’s major ports, and the
import and export trade spread all over the world. With the implementation of the “One Belt and One Road”
strategy, countries along the road strengthen the bilateral mutual trust and have closer cooperation. With a series
of development planning issued by the country and governments at all levels, our company faces new
development opportunities.
The Company will make good use of these strategic resources, creating innovative, keeping forge ahead and
moving forward, and participated in the construction of new-aged energy transform actively, accelerate the
strategic transformation, and vigorously implement the industrial chain extension projects to upgrade the influence
and competitive power in deep-sea fishing market in and out of China.
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section IV Discussion and Analysis on Operation
I. Introduction
In the first half of the year, in the face of the challenges and tests of the novel coronavirus pneumonia epidemic,
and in view of the continued downturn in the international market for tuna, the significant reduction in export
orders, and the continuous decline in the price of fish, while unswervingly doing a good job in the prevention and
control of the epidemic, the company worked together to coordinate the production and operation of both land and
sea, focused on both production and backhaul for catching sector, and two fleets of 23 ships set sail for production
in the Atlantic and Indian Oceans; and focused on marine transportation and material security for transportation
sector, overcame multiple difficulties, and achieved 100% resumption of work and production, and 100% safe
navigation; for the food sector, focused not only on resuming work and production but also on operating and
selling, the tuna express project achieved multiple breakthroughs and transformed from raw food-based to raw and
cooked dual-line development. The company's overall business operation was stabilized and expanded, and
positive factors continued to accumulate, the losses caused by the epidemic were minimized, and achieved initial
results in epidemic prevention and control and production and operation.
(1)Business review during the reporting period
1.Ocean fishing: The company’s 7 fleets of tuna purse seine fishing boats reduced the fishing output during the
current period due to the novel coronavirus epidemic and the impact of the fishing off season, and the sales volume
slightly decreased. The purse seine fishing operation time was shortened compared with the same period last year,
and the output also decreased. Affected by the epidemic, both domestic and export sales were sluggish, sales
expansion was difficult, and sales volume declined on a year-on-year basis; 14 tuna longline fishing vessels have
re-entered in the Indian Ocean bilateral cooperative fishing grounds on schedule, the fleet paid close attention to
maritime safety production, and further improved the sense of responsibility, and focused on the main business
without distractions, the fishing output reached a new high again, and the output in the first half of the year reached
the historical peak, effectively maintaining the stability of the entire business plan. During the reporting period,
ocean fishing achieved an operation revenue of 122.63 million yuan with y-o-y declined of 36.58%; total profit
gains 7.63 million yuan with a y-o-y declined of 64.93%.
2.Refrigerated transport: Actively implemented the strategic deployment of the company's overall development,
made great efforts to maintain the stable and healthy development of the company, and achieved better economic
benefits. Established a working mechanism for epidemic prevention and control, formulated and improved work
plans and emergency plans, made overall plans and made every effort to normalize epidemic prevention and control,
and jointly prevented and controlled ships and shores to form a joint force; continued to implement standardized
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
management, strengthened innovative development models, strengthened business management, and promoted the
steady and healthy development of enterprise. Although affected by the epidemic, we still achieved both growth in
operating revenue and total profit. During the reporting period, refrigerated transport achieved an operation revenue
of 52.62 million yuan with y-o-y growth of 9.43%; total profit gains 23.99 million yuan with a y-o-y growth of
109.02%.
3. Refrigeration processing trade: Strived to overcome the adverse impact of the epidemic on the export and
domestic tuna market, looked for opportunities in crisis, worked hard on new product development, responded to
changes, and opened up new situations; determined the purchase by sales to reduce the risk of dead stock, and the
effect was remarkable; online sales got on the right track and made new breakthroughs, platform cooperation and
multiple measures were taken at the same time; explored corporate transformation, researched and developed
marketable cooked food products, and expanded domestic sales channels. During the reporting period, refrigeration
processing trade achieved an operation revenue of 227 million yuan with y-o-y declined of 32.96%; total profit has
- 7.31 million yuan with a y-o-y declined of 197.09%.
(2) General operation
During the reporting period, the Company achieved business revenue of 375.59 million yuan, a decrease of
27.14% on a y-o-y basis; total profit was 17.36 million yuan, decreased 46.04% over same period last year; the net
profit attributable to parent company amounted as 16.14 million yuan, a 43.21% down over same period last year.
Total assets achieved 1285.95 million yuan with 0.20% down from that of period-beginning; total shareholder’s
equity amounted to 1064.24 million yuan with 1.83% up over that of period-beginning.
II. Main business analysis
See “I. Introduction” in “Discussion and Analysis of Business”.
y-o-y change of main financial data
In RMB
Same period of last Y-o-y
Current period Reasons for changes
year increase/decrease
Operation revenue 375,590,835.67 515,468,659.14 -27.14%
Operation cost 353,368,335.26 437,867,047.13 -19.30%
Sales volume declined
in the Period, the
corresponding port
Sales expenses 8,387,357.40 11,996,385.92 -30.08%
miscellaneous charges,
freight &
miscellaneous charges,
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
customs declaration &
inspection fee as well
as the agency fee
declined
Administrative
21,578,117.77 29,199,215.47 -26.10%
expenses
The exchange income
increased on a y-o-y
basis in the Period,
Financial expenses -161,718.60 3,152,666.58 -105.13% interest expenses
declined due to the
reduce of bank
borrowings
Income tax expense 597,651.69 662,058.68 -9.73%
R&D investment 49,775.28
Sales volume decline
Net cash flow arising
due to the
from operation -12,171,787.81 -4,240,847.30 -187.01%
epidemic,cash received
activities
from sales decreased.
Cash received from
Net cash flow arising
disposal of the
from investment 9,964,118.43 -15,487,389.84 164.34%
transport vessel
activities
increased.
Net cash flow arising Subsidiary of the
from financing -7,503,324.16 10,392,746.18 -172.20% Company repaid part
activities of the bank loans
Net increase of cash
-8,614,656.65 -10,947,176.40 21.31%
and cash equivalent
Major changes on profit composition or profit resources in reporting period
√ Applicable □ Not applicable
1. Affected by the epidemic, sales volume and unit price of the ocean-going fishery products are declined, resulting in a decrease of
55.38 million yuan in gross profit from the same period last year;
2. The subsidies for development and utilization of international fishery resources received in the Period has 18.23 million yuan
increased over same period last year;
3. the non-operating revenue has 10.11 million yuan increased from receiving the insurance claim payment for cargo ships.
Constitution of operating revenue
In RMB
Current Period Same period last year Increase/decrease
Amount Ratio in operating Amount Ratio in operating y-o-y (+,-)
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
revenue revenue
Total operating
375,590,835.67 100% 515,468,659.14 100% -27.14%
revenue
According to industries
Ocean fishing 122,634,986.10 32.65% 193,377,962.74 37.51% -36.58%
Vessel leasing 52,623,995.34 14.01% 48,088,609.67 9.33% 9.43%
Refrigeration
226,997,325.56 60.44% 338,579,646.58 65.68% -32.96%
processing trade
Other 2,911,099.36 0.78% 2,695,646.92 0.52% 7.99%
Internal
-29,576,570.69 -7.87% -67,273,206.77 -13.05%
transaction offset
According to products
Ocean fishing 122,634,986.10 32.65% 193,377,962.74 37.51% -36.58%
Vessel leasing 52,623,995.34 14.01% 48,088,609.67 9.33% 9.43%
Refrigeration
226,997,325.56 60.44% 338,579,646.58 65.68% -32.96%
processing trade
Other 2,911,099.36 0.78% 2,695,646.92 0.52% 7.99%
Internal
-29,576,570.69 -7.87% -67,273,206.77 -13.05%
transaction offset
According to region
Japan 92,971,627.30 24.75% 77,806,939.54 15.09% 19.49%
Mainland China 85,264,324.16 22.70% 179,931,136.41 34.91% -52.61%
Taiwan China 54,746,494.20 14.58% 74,442,404.96 14.44% -26.46%
Ghana 55,758,193.67 14.85% 72,480,473.01 14.06% -23.07%
Other 116,426,767.03 31.00% 178,080,911.99 34.55% -34.62%
Internal
-29,576,570.69 -7.87% -67,273,206.77 -13.05%
transaction offset
About the industries, products, or regions accounting for over 10% of the company’s operating income or operating profit
√Applicable □Not applicable
In RMB
Increase/decrea
Increase/decrea Increase/decrea
Operating Gross profit se of gross
Operating cost se of operating se of operating
revenue ratio profit ratio
revenue y-o-y cost y-o-y
y-o-y
According to industries
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Ocean fishing 122,634,986.10 120,620,754.64 1.64% -36.58% -20.23% -20.17%
Vessel leasing 52,623,995.34 37,760,278.70 28.25% 9.43% 12.48% -1.94%
Refrigeration
processing 226,997,325.56 223,569,371.83 1.51% -32.96% -29.99% -4.18%
trade
According to products
Ocean fishing 122,634,986.10 120,620,754.64 1.64% -36.58% -20.23% -20.17%
Vessel leasing 52,623,995.34 37,760,278.70 28.25% 9.43% 12.48% -1.94%
Refrigeration
processing 226,997,325.56 223,569,371.83 1.51% -32.96% -29.99% -4.18%
trade
According to region
Japan 92,971,627.30 88,115,263.47 5.22% 19.49% 20.08% -0.47%
Mainland
85,264,324.16 80,751,747.01 5.29% -52.61% -44.73% -13.52%
China
Taiwan China 54,746,494.20 39,861,830.80 27.19% -26.46% -31.34% 5.18%
Ghana 57,163,773.67 63,021,807.25 -10.25% -21.13% 4.82% -27.30%
Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted main business based on
latest one year’s scope of period-end
□ Applicable √ Not applicable
Reasons for y-o-y relevant data with over 30% changes
√Applicable □Not applicable
Operating revenue from ocean fishing has 35.86% declined on a y-o-y basis, main reasons is that due to the impact of epidemic and
continued downturn in international tuna market, sales volume has decreased and the unit price of sales has declined.
Operating revenue from refrigeration processing trade has 32.96% declined on a y-o-y basis, main reason was a sharp drop in export
orders and a decline in domestic sales due to the epidemic.
The operating revenue and operating cost from mainland China have 52.61% and 44.73% down respectively on a y-o-y basis, mainly
due to the sales declined sharply domestically for epidemic.
III. Analysis of the non-main business
√Applicable □Not applicable
In RMB
Ration in total Whether has sustainability or
Amount Cause
profit not
Investment income
Investment
54,131.01 0.31% resulted from purchasing Unsustainable
income
the structural deposits
16
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Accrual of the inventory
Assets falling price reserves and
2,321,393.17 13.37% Unsustainable
impairment bad debt provision for
receivable
Received the insurance
claims for cargo ship,
Non-operating
10,122,538.63 58.31% non-operating revenue has Unsustainable
revenue
10.11 million yuan
increased
The net loss of fixed assets
Non-operating
693,969.08 4.00% scrap and donation Unsustainable
expenses
expenditure
IV. Analysis of assets and liability
1. Major changes of assets composition
In RMB
End of current period End of last period Ratio
Ratio in Ratio in changes Notes of major changes
Amount Amount
total assets total assets (+,-)
177,396,987. 172,505,897.
Monetary fund 13.80% 13.47% 0.33%
64 17
Account 83,980,551.5 72,831,521.7
6.53% 5.69% 0.84%
receivable 8 4
394,334,010. 408,714,619.
Inventories 30.66% 31.92% -1.26%
87 51
Investment real 32,098,047.7 33,424,124.4
2.50% 2.61% -0.11%
estate 7 5
531,275,969. 501,281,203.
Fixed assets 41.31% 39.15% 2.16%
26 55
Construction in 17,528,453.3
1.37% -1.37%
progress 1
Short-term 45,739,352.8 90,310,561.4
3.56% 7.05% -3.49% Part of the bank loans are paid
loans 3 9
2. Assets and liability measure by fair value
√Applicable □Not applicable
In RMB
17
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Gain/loss Cumulative
Amount
of fair change of Impairment Amount
Opening purchased Other Ending
Item value fair value accrual in sold in the
amount in the changes amount
changes in recorded the Period Period
Period
the Period into equity
Financial
assets
1.tradable
financial
assets(deri
10,000,000. 10,000,00
vative 0.00
00 0.00
financial
assets
excluded)
Subtotal of
10,000,000. 10,000,00
financial 0.00
00 0.00
assets
Total of 10,000,000. 10,000,00
0.00
above 00 0.00
Financial
0.00 0.00 0.00
liability
Other changes
Whether there is a significant changes in the measurement attributes of the main assets during the period
□Yes √No
3. Assets right restriction till end of reporting period
Item Ending book value Causes of restriction
Monetary fund 1,408,005.57 Cash deposit for L/C
Fixed assets 30,033,251.77 Loan mortgage
Intangible assets 5,388,512.23 Loan mortgage
Total 36,829,769.57 --
V. Investment analysis
1. Overall situation
√Applicable □Not applicable
Amount invested in the period (RMB) Amount invested at same period last Changes
18
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
year (RMB)
10,000,000.00 12,678,961.94 -21.13%
2. The major equity investment obtained in Reporting Period
□Applicable √Not applicable
3. The major non-equity investment doing in Reporting Period
□Applicable √Not applicable
4.Financial assets measured by fair value
√Applicable □Not applicable
In RMB
Gain/loss Cumulative
Cumulati
Initial of fair change of Amount Amount
ve Ending Capital
Types investme value fair value purchased in sold in
investmen amount source
nt cost changes in recorded into the Period the Period
t income
the Period equity
10,000,0 10,000,000.0 10,000,00 Own
Other 0.00 0.00 0.00 54,131.01
00.00 0 0.00 funds
10,000,0 10,000,000.0 10,000,00
Total 0.00 0.00 0.00 54,131.01 --
00.00 0 0.00
5. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The company had no securities investment in the reporting period.
(2) Derivative investment
□ Applicable √ Not applicable
The company had no derivative investment in the reporting period.
VI. Sales of major assets and equity
1. Sales of major assets
□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.
19
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
2. Sales of major equity
□Applicable √Not applicable
VII. Analysis of main holding company and stock-jointly companies
√Applicable □Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
In RMB
Company Main Registered Total Operating Operatin
Type Net assets Net profit
name business capital assets revenue g profit
Shandong
Zhonglu
Haiyan Ocean 221,617,34 508,797,50 389,726,41 91,427,317 1,527,28
Subsidiary 1,527,286.45
Deep-sea fishing 9.00 1.07 5.39 .45 6.45
Fishery
Co., Ltd
Shandong
Zhonglu Refrigerati
22,505,600 41,399,755 16,561,009 17,566,515 2,144,90
Fishery Subsidiary on 1,746,815.26
.00 .68 .47 .62 0.29
Shipping transport
Co., Ltd.
Shandong
Zhonglu
Oceanic Food 75,593,300 384,095,94 206,742,35 226,997,32 -6,984,3 -7,377,838.3
Subsidiary
(Yantai) processing .00 6.44 2.15 5.56 71.51 9
Foods Co.,
Ltd.
HABITAT
INTERNA Refrigerati
12,476,145 291,772,54 188,044,82 35,057,479 11,794,7 21,841,845.6
TIONAL Subsidiary on
.60 7.90 7.54 .72 07.15 3
CORPORA transport
TION
Particular about subsidiaries obtained or disposed in report period
□ Applicable √ Not applicable
Notes of main holding company and stock-jointly companies
VIII. Structured vehicle controlled by the Company
□Applicable √Not applicable
20
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
IX. Risks and countermeasures
1. Risk of periodic fluctuations in the fishery resources. The fishery resources are uncontrollable, and the resource
decline will directly affect the catch. At present, the long-line fishing operations in the first half of the year are
mainly in the western Indian Ocean, and the yield is relatively stable and high from the situation of now. However,
with the arrival of the regular off-season, changes in oceanic climate, hydrometeorology and micro-organisms will
also cause fisheries to be uncontrollable.
Countermeasures: Strengthen scientific and technical supports for fishing production, and build new highlands for
fishery production through technological innovation. The company has deep exchanges with the Fisheries College
of Ocean University of China to seek and strengthen cooperation between schools and enterprises, and later, the
company will establish industry-university- research cooperation research platform jointly participated by the
government, enterprises and schools, which uses our operational history data, combines with on-site remote
sensing technology and other big data to guide production, strengthen the analysis and mastery of resources,
provide us with short, medium and long-term fishery and fishery forecasting work, after the platform is put into
use, it will be truly realizing the transformation of science and technology into productivity, and it will play a
great role in boosting production and laying a leading position for the company in the industry.
2. Risk of fluctuations in sales prices. In recent years, the Japanese and European & American market have been
sluggish and consumption has fallen sharply. In particular, due to the impact of international epidemic this year,
global tuna consumption demand continues to shrink and the capacity of the frozen warehouse in ports is full,
leading to the price falling all the way down.
Countermeasures: In this case, we must grasp the market, the first is to continue to expand inventory sales; the
second is to properly purchase low-cost raw materials and dilute costs; the third is focus on cultivating and
developing the domestic market.
3. Human resources risk. The construction of the crew is difficult. The one-child policy has resulted in fewer
family members, and the younger generation is reluctant to work on the ship; the number of students graduating
from maritime colleges is also decreasing year by year, and the talent pool cannot meet the development
requirements of enterprises.
Countermeasures: In response to the dilemma of the gradual reduction of crew, firstly, the company is actively
recruiting foreign crew members to compensate for the shortage of crew members; the second is to take advantage
of the company's crew assignment qualifications, participate in the international crew market, and invigorate the
company's crew allocation management.
4. The continuing risk of the epidemic. The global spread of the novel coronavirus pneumonia epidemic continues
21
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
to intensify, and the global economy may face a greater risk of recession. As an export-oriented ocean-going
fishery company, the company is greatly affected by external economic changes, especially external economic
frictions and the continuous fermentation or even out of control of the overseas novel coronavirus pneumonia
epidemic, which brings certain uncertainties to the company's production and operation and future development
expectations.
Countermeasures: The company will continue to pay attention to the changes in the epidemic, do a good job in
predicting changes in customers and markets, and strive for more market shares. At the same time, it will increase
investment in research and development of new products and technologies, and actively explore the domestic
market.
5. The risk of exchange rate fluctuations. Foreign currency exchange rate fluctuations have an impact on the
company, especially the fluctuations in the US dollar and Japanese yen have a greater impact on the company.
Countermeasures: The company will pay close attention to changes in the international situation in the future,
carefully analyze and discuss the trend of foreign exchange rate changes, assess the situation, conduct foreign
exchange collection and settlement operations, minimize exchange rate risks, and maximize the company's foreign
exchange benefits.
22
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section V. Important Events
I. In the report period, the Company held annual shareholders’ general meeting and
extraordinary shareholders’ general meeting
1. Annual Shareholders’ General Meeting in the report period
Ratio of investor
Session of meeting Type Date Date of disclosure Index of disclosure
participation
Resolution Notice of
Annual General
Meeting of 2019
(Notice No.:
Annual General
AGM 48.09% 2020-05-25 2020-05-26 2020-13) released on
Meeting of 2019
China Securities
Journal, Hong Kong
Commercial Daily
and Juchao Website
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□Applicable √Not applicable
II. Profit distribution plan and capitalizing of common reserves plan for the Period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for
the semi-annual
III. Commitments completed in Period and those without completed till end of the Period from actual
controller, shareholders, related parties, purchaser and companies
√Applicable □Not applicable
Type of Content of Commitment Commitment Implementatio
Commitments Promise
commitments commitments date term n
Commitments for
Share Merger Reform
Shandong 1. The Continuous
State-owned Inter-industry Company and effective
Commitments in report of In
Assets Competition does not 2018-07-23 during the
acquisition or equity change performance
Investment Commitment directly or time with
Holding Co., indirectly own controlling of
23
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Ltd any shares or the Zhonglu
equity in other Oceanic
enterprises
that may
cause
horizontal
competition
with Zhonglu
Oceanic
(hereinafter
collectively
referred to as
“competitive
enterprise”) or
own any
interest in any
competing
enterprise, and
will not
directly or
indirectly
invest or
purchase the
competitive
enterprises; 2.
For any
business
opportunities
obtained by
the Company
and other
enterprises
controlled by
the Company
from any third
party that
constitute or
may constitute
substantial
competition
with the
business of
Zhonglu
Oceanic, the
24
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Company will
immediately
notify
Zhonglu
Oceanic and
give these
business
opportunities
to Zhonglu
Oceanic so as
to avoid the
horizontal
competition or
potential
horizontal
competition
with Zhonglu
Oceanic; 3.
The Company
and other
companies
controlled by
the Company
will not
provide
business
secrets such as
technical
information,
technological
process, and
sales channels
for other
companies,
enterprises,
organizations
or individuals
that have
business
constituting
competition
with the
business of
Zhonglu
25
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Oceanic. 4.
The Company
promises not
to damage the
interests of
Zhonglu
Oceanic and
other
shareholders
of Zhonglu
Oceanic by
utilizing the
position of
controlling
shareholder;
5. The
Company is
willing to bear
the direct and
indirect
economic
losses,
liability
claims and
additional
expenses
caused by the
violation of
above
commitments
to Zhonglu
Oceanic.
1. The related
transactions
between the
Continuous
Company and
and effective
other
Related during the
companies In
transaction 2018-07-23 time with
controlled by performance
Commitment controlling of
the Company
the Zhonglu
and Zhonglu
Oceanic
Oceanic are
strictly in
compliance
26
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
with the
relevant
provisions of
laws and
regulations,
and will be
conducted on
an equal and
voluntary
basis in
accordance
with the
principles of
fairness and
equivalence,
prices will be
determined at
a reasonable
price
recognized by
the market. 2.
The Company
and other
enterprises
controlled by
the Company
will strictly
abide by the
provisions on
the avoidance
of related
transactions in
the articles of
association of
Zhonglu
Oceanic, and
the related
transactions
involved will
be conducted
in accordance
with the
decision-maki
ng procedures
27
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
of related
transactions of
Zhonglu
Oceanic, and
will perform
legal
procedures
and
information
disclosure
obligations. 3.
The Company
and other
enterprises
controlled by
the Company
guarantee
strict
compliance
with laws,
regulations
and regulatory
documents
and the
relevant
provisions of
the articles of
association of
Zhonglu
Oceanic, and
exercise
shareholder
rights and
perform
shareholder
obligations on
an equal basis
with other
shareholders
in accordance
with legal
procedures,
and don’t seek
improper
28
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
interests or
harm the
legitimate
rights and
interests of
Zhonglu
Oceanic and
other
shareholders
by utilizing
the position of
controlling
shareholder. 4.
The above
commitments
continue to be
effective
during the
period that the
Company
controls
Zhonglu
Oceanic. If the
Company fails
to perform the
commitments
made in this
commitment
letter and
causes losses
and
consequences
to Zhonglu
Oceanic, the
Company will
bear the
corresponding
liability for
damage.
Commitments in assets reorganization
Commitments make in initial public
offering or re-financing
Equity incentive commitment
29
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Other commitments for medium and
small shareholders
Completed on time (Y/N) Y
IV. Appointment and non-reappointment (dismissal) of CPA
Whether the semi-annual financial report had been audited
□Yes √ No
The semi-annual report was not audited
V. Explanation on “Qualified Opinion” from CPA by the Board and Supervisory Committee
□Applicable √Not applicable
VI. Explanation from the Board for “Qualified Opinion” of last year’s
□Applicable √Not applicable
VII. Bankruptcy reorganization
□ Applicable √ Not applicable
No bankruptcy reorganization for the Company in reporting period.
VIII. Lawsuits
Material lawsuits and arbitration
□ Applicable √ Not applicable
No material lawsuits and arbitration in the reporting
Other lawsuits
□ Applicable √ Not applicable
IX. Media questioning
□Applicable √Not applicable
During the reporting period, the company had no media generally questioned matters.
X. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.
30
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
XI. Integrity of the company and its controlling shareholders and actual controllers
√Applicable □Not applicable
The company and its controlling shareholders and actual controllers do not have a relatively large amount of due existing debt with
court's effective judgments.
XII. Implementation of the company’s stock incentive plan, employee stock ownership plan or
other employee incentives
□ Applicable √ Not applicable
During the reporting period, the company has no stock incentive plan, employee stock ownership plan or other employee incentives
that have not been implemented.
XIII. Material related transactions
1. Related transaction with daily operation concerned
□ Applicable √ Not applicable
No related transaction with daily operation concerned for the Company in reporting period.
2. Related transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in reporting period.
3. Main related transactions of mutual investment outside
□ Applicable √ Not applicable
No main related transactions of mutual investment outside for the Company in reporting period
4. Contact of related credit and debt
□ Applicable √ Not applicable
No contact of related credit and debt for the Company in reporting period
5. Other material related transactions
□Applicable √Not applicable
No other material related transactions in the period
XIV. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period.
31
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
XV. 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. Major guarantee
□ Applicable √ Not applicable
The Company had no guarantee in the reporting period.
3. Trust financing
□ Applicable √ Not applicable
The company had no trust financing in the reporting period.
4. Other material contracts
□ Applicable √ Not applicable
The Company had no other material contracts in the reporting period.
XVI. Social responsibility
1. Material environmental protection
Listed company and its subsidiary belongs to the key pollution enterprise listed by Department of Environmental Protection
No
Listed company and its subsidiary are not belongs to key pollution enterprise listed by Department of Environmental Protection
32
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
2. Targeted poverty alleviation social responsibility
(1) Targeted poverty alleviation
During the reporting period, the company has not yet carried out targeted poverty alleviation work.
(2) Summary of semi-annual precision poverty alleviation
(3) Accuracy of poverty alleviation
Measurement
Target Numbers/progress
units
I. general condition —— ——
II. Implemented by detail —— ——
1. Industrial development poverty —— ——
2.Transfer employment —— ——
3. Anti-poverty by relocating in other places —— ——
4. Education poverty —— ——
5.Health poverty alleviation —— ——
6.Ecological conservation —— ——
7.Fallback protection —— ——
8.Social poverty alleviation —— ——
9.Other —— ——
III. Awards (content and level) —— ——
(4) Subsequent precision poverty alleviation program
In the future, the Company will focus on poverty alleviation through education contribution as the essential manner to perform its
social responsibility, seeking for poverty alleviation assistance demands to implemented the plans for purpose of making its own
contribution to the national strategy of poverty alleviation.
XVII. Explanation on other significant events
□Applicable √Not applicable
33
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
During the reporting period, the company had no explanation on other significant matters.
XVIII. Significant event of subsidiary of the Company
√Applicable □Not applicable
On December 20, 2019, the Company released the"Announcement of Important Matters" (Announcement No.: 2019-37) about the
maritime distress of Panamanian "SEA MARK" vessel ("Xinmaoxing" vessel) owned by its wholly-owned subsidiary HABITAT
INTERNATIONAL CORPORATION. And Notice on Progress of the Important Event (Announcement No.: 2020-14) released by the
Company on 30 June 2020, the subsidiary received a reimbursement of $3,000,000.00 from Qingdao Branch of PICC P&C (PICC
Property and Casualty Company Limited), and $118,672.66 from China Shipowners Mutual Assurance Association. Insurance
settlement of this matter has been closed.
34
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section VI. Changes in Shares and Particular about Shareholders
I. Changes in Shares
1. Changes in shares
In Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Shares
Issuing transfer
Bonus
Amount Ratio new from Other Subtotal Amount Ratio
shares
shares public
reserves
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 0.09% 260,000 0.09%
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 changed
□Applicable √Not applicable
Implementation progress of the share repurchases
□Applicable √Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding
□Applicable √Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
35
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
shareholders of Company in latest year and period
□Applicable √Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security regulators
□Applicable √Not applicable
2. Changes of restricted shares
□Applicable √Not applicable
II. Securities issuance and listing
□Applicable √Not applicable
III. Numbers of shareholders and particulars about shares holding
In share
Total preference shareholders
Total common shareholders at with voting rights recovered at
11,422 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 Share-holding in unlisted listed
Shareholders shares
shareholder ratio reportin common common Status Amount
held at
g period circulati circulati
period-e
on on
nd
shares shares
Shandong
State-owned
Assets
State-owned 125,731, 125,731,
Investment 47.25%
corporate 320 320
Holding
Company
Limited
Overseas natural 5,760,42 5,760,42
Chen Tianming 2.16%
person 7 7
Domestic natural 4,096,81 4,096,81
Cai Yujiu 1.54% 330410
person 1 1
Haitong 2,118,73 2,118,73
Overseas corporate 0.80%
International 6 6
36
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Securities
Company
Limited-Accou
nt Client
GUOTAI
JUNAN
1,986,48 1,986,48
SECURITIES( Overseas corporate 0.75% -28139
5 5
HONGKONG)
LIMITED
Shen Wan
Hongyuan 1,977,85 1,977,85
Overseas corporate 0.74% 38700
Securities (H.K) 4 4
Co., Ltd.
China National
Heavy Duty State-owned 1,950,00 1,950,00
0.73%
Truck Group corporate 0 0
Co., Ltd.
Domestic natural 1,330,00 1,330,00
Lin Mingyu 0.50% 120000
person 1 1
Wang Overseas natural 1,185,20 1,185,20
0.45% -20000
Dongsheng person 3 3
Overseas natural 1,048,68 1,048,68
Huang Jiayi 0.39%
person 7 7
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 has 20% shares of China National Heavy Duty
Truck Group Co., Ltd. (During the reporting period, Shandong SDIC entrusted Shandong
Explanation on associated Heavy Industry Group Co., Ltd. to exercise other shareholder’s rights of its 20% stock equity
relationship among the aforesaid in Sinotruk Group except for the assets income right), Rests of the shareholders are the
shareholders 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
Shareholding of top 10 circulated shareholders
Type of shares
Shareholders Amount of listed shares held at end of the Period
Type Amount
Domestically
Chen Tianming 5,760,427 listed foreign 5,760,427
shares
37
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Domestically
Cai Yujiu 4,096,811 listed foreign 4,096,811
shares
Domestically
Haitong International Securities
2,118,736 listed foreign 2,118,736
Company Limited-Account Client
shares
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 1,986,485 listed foreign 1,986,485
LIMITED shares
Domestically
Shen Wan Hongyuan Securities
1,977,854 listed foreign 1,977,854
(H.K) Co., Ltd.
shares
Domestically
Lin Mingyu 1,330,001 listed foreign 1,330,001
shares
Domestically
Wang Dongsheng 1,185,203 listed foreign 1,185,203
shares
Domestically
Huang Jiayi 1,048,687 listed foreign 1,048,687
shares
Domestically
He Bin 887,447 listed foreign 887,447
shares
Domestically
Huang Weiguang 880,206 listed foreign 880,206
shares
Expiation on associated relationship
or consistent actors within the top
The Company is unknown whether there exists associated relationship or belongs to consistent
10 un-restrict shareholders and
actor regulated by management method for acquisition of listed company among the above
between top 10 un-restrict
said shareholders.
shareholders and top 10
shareholders
Explanation on shareholders
involving margin business about top
ten common stock shareholders Not applicable
with un-restrict shares held(if
applicable) (see note4)
Whether top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
38
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
The top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held of the Company have no
buy-back agreement dealing in reporting period.
IV. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of controlling shareholders had no change in reporting period.
Changes of actual controller in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
39
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the reporting
40
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section VIII. Convertible Bonds
□ Applicable √ Not applicable
The Company had no convertible bonds in the Period.
41
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section IX. Particulars about Directors, Supervisors and Senior
Officers
I. Changes of shares held by directors, supervisors and senior officers
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior officers have no changes in reporting period, found more details in Annual Report
2019.
II. Resignation and dismissal of directors, supervisors and senior officers
□ Applicable √ Not applicable
The directors, supervisors and senior management of the company did not change during the reporting period, found more details in
Annual Report 2019.
42
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section X. Corporate bond
Whether the Company has a corporation bonds that issuance publicly and listed on stock exchange and without due on the date when
annual report approved for released or fail to cash in full on due
No
43
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section XI. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
Units in Notes of Financial Statements is RMB
1. Consolidate balance sheet
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd.
2020-06-30
In RMB
Item 2020-6-30 2019-12-31
Current assets:
Monetary funds 177,396,987.64 186,011,644.29
Settlement provisions
Capital lent
Tradable financial assets 10,000,000.00
Derivative financial assets
Note receivable
Account receivable 83,980,551.58 70,003,394.30
Receivable financing
Accounts paid in advance 21,701,284.51 17,350,069.13
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 2,633,719.57 4,343,207.56
Including: Interest receivable
Dividend receivable
Buying back the sale of financial
44
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
assets
Inventories 394,334,010.87 375,744,116.36
Contractual assets
Assets held for sale
Non-current asset due within one
year
Other current assets 14,911,213.92 32,027,587.58
Total current assets 704,957,768.09 685,480,019.22
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment
Investment in other equity
instrument
Other non-current financial
assets
Investment real estate 32,098,047.77 32,761,086.11
Fixed assets 531,275,969.26 551,167,599.49
Construction in progress
Productive biological asset
Oil and gas asset
Right-of-use assets
Intangible assets 13,139,705.70 13,196,284.54
Expense on Research and
Development
Goodwill
Long-term expenses to be
237,229.61 435,134.13
apportioned
Deferred income tax asset 1,845,872.82 1,845,872.82
Other non-current asset 2,394,857.06 3,640,847.49
Total non-current asset 580,991,682.22 603,046,824.58
Total assets 1,285,949,450.31 1,288,526,843.80
Current liabilities:
45
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Short-term loans 45,739,352.83 51,662,365.00
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable
Account payable 89,424,677.12 94,725,231.68
Accounts received in advance 18,477,646.54
Contractual liability 21,552,546.54
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 34,116,025.64 49,149,654.32
Taxes payable 3,784,227.59 3,597,925.54
Other account payable 10,681,034.80 8,634,438.40
Including: Interest payable
Dividend payable
Commission charge and
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due
within one year
Other current liabilities
Total current liabilities 205,297,864.52 226,247,261.48
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital
securities
46
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Lease liability
Long-term account payable
Long-term wages payable 1,286,394.42 1,378,471.70
Accrual liability
Deferred income 15,126,638.86 15,764,480.48
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 16,413,033.28 17,142,952.18
Total liabilities 221,710,897.80 243,390,213.66
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 284,054,997.75 284,054,997.75
Less: Inventory shares
Other comprehensive income 2,010,664.87 707,156.17
Reasonable reserve
Surplus public reserve 21,908,064.19 21,908,064.19
Provision of general risk
Retained profit 330,596,151.51 314,460,431.58
Total owner’ s equity attributable to
904,641,198.32 887,201,969.69
parent company
Minority interests 159,597,354.19 157,934,660.45
Total owner’ s equity 1,064,238,552.51 1,045,136,630.14
Total liabilities and owner’ s equity 1,285,949,450.31 1,288,526,843.80
Legal Representative: Lu Lianxing
Person in Charge of Accounting: Fu Chuanhai
Person in Charge of Accounting Department: Lei Lixin
2. Balance Sheet of Parent Company
In RMB
47
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Item 2020-6-30 2019-12-31
Current assets:
Monetary funds 22,710,239.22 56,205,332.78
Trading financial assets 10,000,000.00
Derivative financial assets
Note receivable
Account receivable 15,424,953.61 29,071,151.64
Receivable financing
Accounts paid in advance 4,449,452.87 4,729,985.40
Other account receivable 191,745,933.66 181,768,872.70
Including: Interest receivable
Dividend
94,566,287.92 94,566,287.92
receivable
Inventories 56,905,427.51 34,787,467.34
Contractual assets
Assets held for sale
Non-current assets maturing
within one year
Other current assets 2,202,025.15 2,079,593.94
Total current assets 303,438,032.02 308,642,403.80
Non-current assets:
Debt investment
Other debt investment
Long-term receivables 5,630,080.88 5,196,204.31
Long-term equity investments 232,189,455.23 232,189,455.23
Investment in other equity
instrument
Other non-current financial
assets
Investment real estate 32,098,047.77 32,761,086.11
Fixed assets 58,558,777.31 58,708,493.74
Construction in progress
Productive biological assets
Oil and natural gas assets
Right-of-use assets
48
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Intangible assets 940,669.14 846,324.29
Research and development costs
Goodwill
Long-term deferred expenses 88,996.85
Deferred income tax assets
Other non-current assets 394,857.06 1,279,247.49
Total non-current assets 329,811,887.39 331,069,808.02
Total assets 633,249,919.41 639,712,211.82
Current liabilities
Short-term borrowings
Trading financial liability
Derivative financial liability
Notes payable
Account payable 5,937,041.52 6,504,914.36
Accounts received in advance 2,161,006.77
Contractual liability 3,649,086.27
Wage payable 12,905,578.65 16,431,213.09
Taxes payable 256,786.40 452,563.73
Other accounts payable 85,870,394.98 88,931,206.55
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due
within one year
Other current liabilities
Total current liabilities 108,618,887.82 114,480,904.50
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long term employee 892,489.40 984,566.68
49
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
compensation payable
Accrued liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 892,489.40 984,566.68
Total liabilities 109,511,377.22 115,465,471.18
Owners’ equity:
Share capital 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
Special reserve
Surplus reserve 19,184,672.34 19,184,672.34
Retained profit -40,633,350.32 -40,125,151.87
Total owner’s equity 523,738,542.19 524,246,740.64
Total liabilities and owner’s equity 633,249,919.41 639,712,211.82
3. Consolidated Profit Statement
In RMB
Item Semi-annual of 2020 Semi-annual of 2019
I. Total operating income 375,590,835.67 515,468,659.14
Including: Operating income 375,590,835.67 515,468,659.14
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 384,483,261.23 483,700,588.70
Including: Operating cost 353,368,335.26 437,867,047.13
Interest expense
Commission charge and
50
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
commission expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras 1,261,394.12 1,485,273.60
Sales expense 8,387,357.40 11,996,385.92
Administrative expense 21,578,117.77 29,199,215.47
R&D expense 49,775.28
Financial expense -161,718.60 3,152,666.58
Including: Interest
1,290,415.47 2,382,040.26
expenses
Interest
375,178.04 541,927.78
income
Add: other income 19,034,020.39 433,292.74
Investment income (Loss is
54,131.01
listed with “-”)
Including: Investment
income on affiliated company and joint
venture
The termination of
income recognition for financial assets
measured by amortized cost(Loss is
listed with “-”)
Exchange income (Loss is
listed with “-”)
Net exposure hedging
income (Loss is listed with “-”)
Income from change of fair
value (Loss is listed with “-”)
Loss of credit impairment
-1,169,489.97
(Loss is listed with “-”)
Losses of devaluation of
-1,151,903.20 -3,302.88
asset (Loss is listed with “-”)
Income from assets disposal 55,893.20 -1,399.00
51
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
(Loss is listed with “-”)
III. Operating profit (Loss is listed with
7,930,225.87 32,196,661.30
“-”)
Add: Non-operating income 10,122,538.63
Less: Non-operating expense 693,969.08 24,200.00
IV. Total profit (Loss is listed with “-”) 17,358,795.42 32,172,461.30
Less: Income tax expense 597,651.69 662,058.68
V. Net profit (Net loss is listed with
16,761,143.73 31,510,402.62
“-”)
(i) Classify by business continuity
1.continuous operating net profit
16,761,143.73 31,510,402.62
(net loss listed with ‘-”)
2.termination of net profit (net
loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to
16,135,719.93 28,420,094.20
owner’s of parent company
2.Minority shareholders’ gains
625,423.80 3,090,308.42
and losses
VI. Net after-tax of other
2,340,778.64 -44,875.62
comprehensive income
Net after-tax of other comprehensive
income attributable to owners of parent 1,303,508.70 -35,906.51
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that
cannot be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income 1,303,508.70 -35,906.51
52
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreign 1,303,508.70 -35,906.51
currency financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority 1,037,269.94 -8,969.11
shareholders
VII. Total comprehensive income 19,101,922.37 31,465,527.00
Total comprehensive income
attributable to owners of parent 17,439,228.63 28,384,187.69
Company
Total comprehensive income
1,662,693.74 3,081,339.31
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.06 0.11
(ii) Diluted earnings per share 0.06 0.11
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: Lu Lianxing
Person in Charge of Accounting: Fu Chuanhai
Person in Charge of Accounting Department: Lei Lixin
53
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
4. Profit Statement of Parent Company
In RMB
Item Semi-annual of 2020 Semi-annual of 2019
I. Operating income 32,245,432.56 90,518,493.12
Less: Operating cost 29,487,279.57 63,255,773.62
Taxes and surcharge 373,646.54 355,604.14
Sales expenses 164,061.94 5,438,557.64
Administration expenses 11,215,607.85 14,109,200.60
R&D expenses
Financial expenses -534,611.85 -571,940.04
Including: interest
expenses
Interest income 51,639.77 209,935.62
Add: other income 8,237,896.28
Investment income (Loss is
54,131.01
listed with “-”)
Including: Investment
income on affiliated Company and
joint venture
The termination of
income recognition for financial
assets measured by amortized cost
(Loss is listed with “-”)
Net exposure hedging
income (Loss is listed with “-”)
Changing income of fair
value (Loss is listed with “-”)
Loss of credit impairment
29,101.26
(Loss is listed with “-”)
Losses of devaluation of
-3,302.88
asset (Loss is listed with “-”)
Income on disposal of
55,893.20
assets (Loss is listed with “-”)
II. Operating profit (Loss is listed
-83,529.74 7,927,994.28
with “-”)
Add: Non-operating income 30.00
Less: Non-operating expense 290,132.05 24,200.00
54
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
III. Total Profit (Loss is listed with
-373,631.79 7,903,794.28
“-”)
Less: Income tax 134,566.66
IV. Net profit (Net loss is listed with
-508,198.45 7,903,794.28
“-”)
(i)continuous operating net
-508,198.45 7,903,794.28
profit (net loss listed with ‘-”)
(ii) termination of net profit (net
loss listed with ‘-”)
V. Net after-tax of other
comprehensive income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that
cannot be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(II) Other comprehensive
income items which will be
reclassified subsequently to profit or
loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
55
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
VI. Total comprehensive income -508,198.45 7,903,794.28
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB
Item Semi-annual of 2020 Semi-annual of 2019
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 345,543,772.43 516,354,870.14
services
Net increase of customer deposit
and interbank deposit
Net increase of loan from
central bank
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from
reinsurance business
Net increase of insured savings
and investment
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in
sale and purchase of securities
56
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Write-back of tax received 27,911,364.58 18,156,060.52
Other cash received concerning
29,222,982.06 23,261,940.06
operating activities
Subtotal of cash inflow arising from
402,678,119.07 557,772,870.72
operating activities
Cash paid for purchasing
commodities and receiving labor 310,458,279.86 417,495,100.29
service
Net increase of customer loans
and advances
Net increase of deposits in
central bank and interbank
Cash paid for original insurance
contract compensation
Net increase of capital lent
Cash paid for interest,
commission charge and commission
Cash paid for bonus of
guarantee slip
Cash paid to/for staff and
65,604,976.15 63,172,046.67
workers
Taxes paid 6,133,273.62 8,042,420.72
Other cash paid concerning
32,653,377.25 73,304,150.34
operating activities
Subtotal of cash outflow arising from
414,849,906.88 562,013,718.02
operating activities
Net cash flows arising from operating
-12,171,787.81 -4,240,847.30
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
54,131.01
income
Net cash received from disposal
of fixed, intangible and other 22,055,057.42
long-term assets
Net cash received from disposal
57
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
of subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from
22,109,188.43
investing activities
Cash paid for purchasing fixed,
2,145,070.00 15,487,389.84
intangible and other long-term assets
Cash paid for investment 10,000,000.00
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from
12,145,070.00 15,487,389.84
investing activities
Net cash flows arising from investing
9,964,118.43 -15,487,389.84
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 16,971,420.99 65,683,927.18
Other cash received concerning
financing activities
Subtotal of cash inflow from
16,971,420.99 65,683,927.18
financing activities
Cash paid for settling debts 23,170,050.24 53,222,974.42
Cash paid for dividend and
1,304,694.91 2,068,206.58
profit 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 24,474,745.15 55,291,181.00
58
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
financing activities
Net cash flows arising from financing
-7,503,324.16 10,392,746.18
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 1,096,336.89 -1,611,685.44
exchange rate
V. Net increase of cash and cash
-8,614,656.65 -10,947,176.40
equivalents
Add: Balance of cash and cash
184,603,638.72 182,767,125.48
equivalents at the period -begin
VI. Balance of cash and cash
175,988,982.07 171,819,949.08
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB
Item Semi-annual of 2020 Semi-annual of 2019
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 22,978,886.95 74,442,966.97
services
Write-back of tax received 2,000.54
Other cash received concerning
11,946,999.88 24,878,328.23
operating activities
Subtotal of cash inflow arising from
34,927,887.37 99,321,295.20
operating activities
Cash paid for purchasing
commodities and receiving labor 16,522,497.80 25,971,148.25
service
Cash paid to/for staff and
17,342,332.23 15,978,127.46
workers
Taxes paid 768,741.55 1,146,367.73
Other cash paid concerning
13,337,016.38 76,293,284.88
operating activities
Subtotal of cash outflow arising from
47,970,587.96 119,388,928.32
operating activities
Net cash flows arising from operating
-13,042,700.59 -20,067,633.12
activities
59
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
54,131.01
income
Net cash received from disposal
of fixed, intangible and other 57,000.00
long-term assets
Net cash received from disposal
of subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from
111,131.01 0.00
investing activities
Cash paid for purchasing fixed,
264,360.00 71,454.89
intangible and other long-term assets
Cash paid for investment 10,000,000.00
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from
10,264,360.00 71,454.89
investing activities
Net cash flows arising from investing
-10,153,228.99 -71,454.89
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans
Other cash received concerning
11,000,000.00
financing activities
Subtotal of cash inflow from
11,000,000.00
financing activities
Cash paid for settling debts
Cash paid for dividend and
profit distributing or interest paying
60
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Other cash paid concerning
21,333,129.97
financing activities
Subtotal of cash outflow from
21,333,129.97
financing activities
Net cash flows arising from financing
-10,333,129.97
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 33,965.99 121.41
exchange rate
V. Net increase of cash and cash
-33,495,093.56 -20,138,966.60
equivalents
Add: Balance of cash and cash
56,205,332.78 58,180,225.27
equivalents at the period -begin
VI. Balance of cash and cash
22,710,239.22 38,041,258.67
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
Current Period
In RMB
Semi-annual of 2020
Owners’ equity attributable to the parent Company
Other
equity
Othe Tota
instrument Less
r Prov Min l
Per : Reas
Item Sha Capi com Surp ision Reta ority own
pet Inve onab
re Pre tal preh lus of ined Othe Subt inter ers’
ual ntor le
cap fer reser ensi reser gene profi r otal ests equit
cap Ot y reser
ital red ve ve ve ral t
ital her shar ve y
sto inco risk
sec es
ck me
urit
ies
266
284, 21,9 314, 887, 157, 1,04
I. Balance at ,07 707,
054, 08,0 460, 201, 934, 5,13
the end of the 1,3 156.
997. 64.1 431. 969. 660. 6,63
last year 20. 17
75 9 58 69 45 0.14
00
Add:
Changes of
accounting
policy
Error
61
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
correction of
the last period
Enterprise
combine
under the
same control
Other
266
284, 21,9 314, 887, 157, 1,04
II. Balance at ,07 707,
054, 08,0 460, 201, 934, 5,13
the beginning 1,3 156.
997. 64.1 431. 969. 660. 6,63
of this year 20. 17
75 9 58 69 45 0.14
00
III. Increase/
16,1 17,4 19,1
Decrease in 1,30 1,66
this year 35,7 39,2 01,9
3,50 2,69
(Decrease is 19.9 28.6 22.3
8.70 3.74
listed with 3 3 7
“-”)
16,1 17,4 19,1
(i) Total 1,30 1,66
35,7 39,2 01,9
comprehensiv 3,50 2,69
19.9 28.6 22.3
e income 8.70 3.74
3 3 7
(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
62
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
of general
risk
provisions
3.
Distribution
for owners (or
shareholders)
4. Other
(IV) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus
reserve
4．Carry-over
retained
earnings
from the
defined
benefit
plans
5．Carry-over
retained
earnings from
other
comprehensiv
e income
6. Other
(V)
Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in
the report
period
63
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
(VI)Others
266
284, 21,9 330, 904, 159, 1,06
IV. Balance at ,07 2,01
054, 08,0 596, 641, 597, 4,23
the end of the 1,3 0,66
997. 64.1 151. 198. 354. 8,55
report period 20. 4.87
75 9 51 32 19 2.51
00
Last Period
In RMB
Semi-annual of 2019
Owners’ equity attributable to the parent Company
Other
equity
instrument
Pe Othe
Less Total
rpe r Prov Mino
: Reas owne
Item Sha tua Capi com Surp ision Reta rity
Pr Inve onab rs’
re l tal preh lus of ined Othe Subt intere
efe ntor le equit
cap ca reser ensi reser gene profi r otal sts
rre Oth y reser y
ital pit ve ve ve ral t
d er shar ve
al inco risk
sto es
sec me
ck
uri
tie
s
266
284, 21,9 232, 803,
I. Balance at ,07 -675 140,3 943,8
054, 08,0 148, 507,
the end of the 1,3 ,743. 69,31 76,75
997. 64.1 801. 440.
last year 20. 05 2.43 2.67
75 9 35 24
00
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Enterprise
combine
under the
same
control
Other
II. Balance at 266 284, -675 21,9 232, 803, 140,3 943,8
the beginning ,07 054, ,743. 08,0 148, 507, 69,31 76,75
64
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
of this year 1,3 997. 05 64.1 801. 440. 2.43 2.67
20. 75 9 35 24
00
III. Increase/
28,4 28,3
Decrease in -35, 3,085 31,47
this year 20,0 84,1
906. ,831. 0,019
(Decrease is 94.2 87.6
51 75 .44
listed with 0 9
“-”)
28,4 28,3
(i) Total -35, 3,085 31,47
20,0 84,1
comprehensi 906. ,831. 0,019
94.2 87.6
ve income 51 75 .44
0 9
(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
65
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
(IV) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3.
Remedying
loss with
surplus
reserve
4．Carry-over
retained
earnings
from the
defined
benefit
plans
5．Carry-over
retained
earnings
from other
comprehensi
ve income
6. Other
(V)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(VI)Others
266 284, 21,9 260, 831,
IV. Balance -711 143,4 975,3
at the end of ,07 054, 08,0 568, 891,
,649. 55,14 46,77
the report 1,3 997. 64.1 895. 627.
56 4.18 2.11
period 20. 75 9 55 93
66
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
00
8. Statement of Changes in Owners’ Equity (Parent Company)
Current Period
In RMB
Semi-annual of 2020
Other equity
instrument Other
Capita
Perp Less: compr Reaso Surplu Retai
Item Share l Total
etual Invent ehensi nable s ned
capit Prefe public Other owners’
capit Othe ory ve reserv reserv profi
al rred reserv equity
al r shares incom e e t
stock e
secur e
ities
-40,1
I. Balance at 266,0 279,11 19,184
25,1 524,246,
the end of the 71,32 5,900. ,672.3
51.8 740.64
last year 0.00 17 4
7
Add:
Changes of
accounting
policy
Error
correction of
the last period
Other
-40,1
II. Balance at 266,0 279,11 19,184
25,1 524,246,
the beginning 71,32 5,900. ,672.3
51.8 740.64
of this year 0.00 17 4
7
III. Increase/
Decrease in -508,
-508,198
this year 198.
.45
(Decrease is 45
listed with “-”)
(i) Total -508,
-508,198
comprehensive 198.
.45
income 45
(ii) Owners’
devoted and
decreased
capital
1.Common
shares
invested by
67
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
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．Carry-over
retained
earnings from
the defined
benefit plans
5．Carry-over
retained
earnings from
other
comprehensive
income
6. Other
68
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
(V)
Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
(VI)Others
-40,6
IV. Balance at 266,0 279,11 19,184
33,3 523,738,
the end of the 71,32 5,900. ,672.3
50.3 542.19
report period 0.00 17 4
2
Last Period
In RMB
Semi-annual of 2019
Other equity
instrument
Other
Perp Capit
Shar Less: compr Surpl
Item Pref etual al Reason Total
e Invent ehensi us Retaine
erre capit public able Other owners’
capit Othe ory ve reserv d profit
d al reserv reserve equity
al r shares incom e
stoc secu e
e
k ritie
s
266,
I. Balance at 279,1 19,18
071, -64,310 500,061,
the end of the 15,90 4,672
320. ,165.40 727.11
last year 0.17 .34
00
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Other
266,
II. Balance at 279,1 19,18
071, -64,310 500,061,
the beginning 15,90 4,672
320. ,165.40 727.11
of this year 0.17 .34
00
III. Increase/ 7,903,7 7,903,79
Decrease in 94.28 4.28
69
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
this year
(Decrease is
listed with
“-”)
(i) Total 7,903,7 7,903,79
comprehensiv
94.28 4.28
e 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
70
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
capital (share
capital)
3. Remedying
loss with
surplus
reserve
4．Carry-over
retained
earnings from
the defined
benefit plans
5．Carry-over
retained
earnings from
other
comprehensiv
e income
6. Other
(V)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
the report
period
(VI)Others
266,
IV. Balance at 279,1 19,18
071, -56,406 507,965,
the end of the 15,90 4,672
320. ,371.12 521.39
report period 0.17 .34
00
III. Company profile
1. Enterprise registration place, Organization form and Headquarters address
Shandong Zhonglu Oceanic Fisheries Co., Ltd. (hereinafter referred to as “Company” or “the Company”),
registration address: No. 29 Miaoling Road, Laoshan District, Qingdao Shangdong, headquarter locates at No. 65
Haier Road, Qingdao Shangdong, 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, being approved by the documentation
of Zheng Jian Fa Xing Zi [2000] No.82 issued by the China Securities Regulatory Commission, the Company’s
71
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
B-share, stock ID “Zhonglu B”, stock code “200992” are listing for trading on Shenzhen Stock Exchange dated 24
July 2000.
Basic organization structure of the Company: Shareholder General Meeting, BOD, Supervisory Committee,
Office of the GM (Office of the Party Committee), Departments of HR(Organization Dept.), Financial
Management Dept. (Capital Operation Dept.), Enterprise Development Dept., Auditing Dept., Oceanic
Management Dept., Office of the Discipline Inspection Commission, Party-Masses Relationship Dept. and Risk
Control Dept. (Legal Affairs Dept.).
2. Business nature and main business activities of Enterprise
Corporate industry: ocean-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.
Pre-license operation: offshore fishing and distant fishing.
3. Person approves the financial report for disclosed and date for report
The financial report has been approved for report by the Board dated 26 August 2020.
Ended as 30 June 2020, consolidation scope of the Company including 4 secondary enterprises, 4 three-tier
enterprises and one operation entity with controlling rights obtained through operating lease.
4 secondary enterprises: 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; 4 three-tier enterprises: LAIF FISHERIES COMPANY LIMITED, Shandong Zhonglu Ocean
Refrigerated Co., Ltd., AFRICA STAR FISHERIES LIMITED and ZHONG GHA FOODS COMPANY
LIMITED; one operation entity with controlling rights obtained through operating lease: YAW ADDO
FISHERIES COMPANY LIMITED. Entity of the consolidate scope found more in Note IX- Equity in Other
entity
IV. Preparation basis of Financial Statements
1. Preparation basis
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.
72
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
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:
According to actual production and operation characteristics and regulation of relevant accounting standards for
enterprises, the Company and its subsidiaries, formulated a variety of specific accounting policies and estimations
in aspect of the transaction and events such as provision for bad debts of the receivable, valuation method of
inventory, depreciation of the fixed assets, amortization of intangible assets, revenue recognition etc.
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 2020 and the operation results as well as cash flow from January to June in 2020.
2. Accounting period
The Company’s accounting year is Gregorian calendar year, namely from 1st January to 31st December of every
year.
3. Business cycle
The Company’s business cycle is one year (12 months) as a normal cycle, and the business cycle is the
determining criterion for the liquidity of assets and liabilities of the Company.
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
73
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
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 contingency liabilities should calculated by fair value
on day of purchased. If the consolidation cost larger than the fair value amount of identified net assets from
acquiree’s, the differences should be recognized as goodwill. If the consolidation cost less than the fair value
amount of identified net assets from acquiree’s, the differences should reckoned into current 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
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) Set-off 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,
74
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
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.
(5) Accounting treatment of disposal of subsidiaries
In the case of partial disposal of long-term equity investments in subsidiaries without loss of control, in the
consolidated financial statements, the difference between the disposal cost and the subsidiary’s share of net
assets continuously calculated from the date of purchase or consolidation corresponding to the disposal of
long-term equity investments adjusts the capital reserve (capital premium or equity premium), if the capital
reserve is insufficient to offset, adjust the retained earnings.
If the control of the investee is lost due to the disposal of part of the equity investment, when preparing the
consolidated financial statements, the remaining equity shall be remeasured at its fair value on the date of loss of
control. The balance after subtracting the share of the original subsidiary’s net assets calculated continuously from
the date of purchase or combination according to the original shareholding ratio from the sum of the consideration
obtained from the disposal of the equity and the fair value of the remaining equity is included in the current
investment income of loss of control right, and offsets goodwill. Other comprehensive income related to the
equity investment of the original subsidiary will be transferred to the current investment income when the control
is lost.
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 recognized 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
As a parties of joint operation, the Company should recognize 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 recognize their separate assets or liabilities held, and recognize
the assets or liabilities jointly held according to their respective shares; to recognize the income from the disposal
75
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
of their output share under joint operation; to recognize the income from the disposal of output under joint
operation according to their respective shares; to recognize the expenses incurred separately, and recognize the
expenses incurred under joint operation according to their respective shares.
As a 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
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.
(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
76
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
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) Category and re-classification of financial instrument
Financial instrument is the contract that taken shape of the financial asses for an enterprise and of the financial
liability or equity instrument for other units.
①Financial asset
The financial assets meet the following conditions simultaneously are classified as financial assets measured by
amortized cost: a-The Company's business model for managing financial assets measured at amortized cost is to
collect contractual cash flows; and b- according to the contract regulations, the cash flows generated on a specific
date are only the payment for the principal and the interest based on the outstanding principal amount.
The financial assets meet the following conditions simultaneously are classified as financial assets measured on
fair value and with its variation reckoned into other comprehensive income:a-The Company's business model for
managing such financial assets is to target at both the collection of contractual cash flows and the sale; and
b-according to the contract regulations, the cash flows generated on a specific date are only the payment for the
principal and the interest based on the outstanding principal amount.
For non-trading equity instrument investments, the Company irreversibly designates them as the financial assets
that are measured at fair value and whose changes are included in other comprehensive income in the initial
recognition. The designation is made based on a single investment and the relevant investment is in line with the
definition of equity instruments from the issuer's perspective.
Except for financial assets measured at amortized cost and financial assets measured at fair value and whose
changes are included in other comprehensive income, the Company classifies the financial assets as financial assets
measured at fair value and whose changes are included in current profit and loss. At the initial recognition, if the
accounting mismatch can be eliminated or reduced, the Company can irrevocably designate the financial assets as
financial assets measured at fair value and whose changes are included in current profit and loss.
When the Company changes its business model of managing financial assets, it will reclassify all affected financial
assets on the first day of the first reporting period after the business model changes, and adopt the future applicable
77
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
method from the date of reclassification for relevant accounting treatment, and will not make retrospective
adjustments to previously recognized gains, losses (including impairment losses or gains) or interest.
②Financial liability
At initial recognition, financial liabilities are classified into financial liabilities measured by fair value with
changes counted into current gains/losses; and the financial liabilities measured at amortized cost. All financial
liabilities are not reclassified.
(2) Measurement of financial instrument
The initial recognition of the Company's financial instruments is measured at fair value. For financial assets and
financial liabilities measured at fair value and whose changes are included in current profit and loss, the related
transaction expenses are directly recognized in current profit and loss. For other financial assets or financial
liabilities, the related transaction expenses are included in the initial recognition amount. For the accounts
receivable or notes receivable arising from the sale of products or the provision of labor services that do not contain
or consider significant financing components, the Company shall use the consideration amount that is expected to be
received as the initial recognition amount. Subsequent measurement of financial instruments depends on their
classification.
①Financial assets
a.Financial assets measured at amortized cost: After initial recognition, such financial assets are measured at
amortized cost by using the effective interest method. Gains or losses arising from financial assets which are
measured at amortized cost and are not a component of any hedging relationship are included in current profit or
loss when being derecognized ,re-classified and amortized by effective interest method, or impaired.
b. Financial assets measured at fair value and whose changes are included in other comprehensive income: After
initial recognition, such financial assets (part of the financial assets belonging to hedging relationship excluded)
are subsequently measured at fair value. The gains or losses (interest and dividend revenue included) are reckoned
into current gains/losses.
c.Debt instrument investment measured at fair value and with its variation reckoned into other comprehensive
income: After initial recognition, such financial assets are subsequently measured at fair value. The interest
calculated by using the effective interest method, the impairment loss or gains and the exchange gains and losses are
recognized in the current profit and loss, other gains or losses are recognized in other comprehensive income. When
being derecognized, the accumulated gains or losses previously recognized in other comprehensive income are
transferred from other comprehensive income and recognized in current profit and loss.
②Financial liability
a. Financial liabilities measured at fair value and whose changes are included in current profit and loss: Such
financial liabilities include transactional financial liabilities (including derivatives that are financial liabilities) and
financial liabilities designated to be measured at fair value and whose changes are included in current profit and loss.
After the initial recognition, such financial liabilities are subsequently measured at fair value, in addition to relevant
to the hedge accounting, the gains or losses (including interest expenses) arising from changes in the fair value of the
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financial liabilities are included in current profit and loss. If the financial liabilities are designated to be measured at
fair value and whose changes are included in current profit and loss, the changes in the fair value of the financial
liabilities caused by the changes in the enterprise’s own credit risks are included in other comprehensive income,
and other changes in fair value are included in current profit and loss. If the effect of the change in the credit risk of
the financial liability being included in other comprehensive income shall cause or expand the accounting mismatch
in profit or loss, the Company will include the entire gains or losses of the financial liability in the current profit and
loss.
b.Financial liabilities measured at amortized cost: After initial recognition, such financial liabilities are measured at
amortized cost by using the effective interest method.
(3) How the Company recognizes the fair value of financial instruments
If the financial instrument has an active market, its fair value is determined by the quoted price in the active market;
if the financial instrument doesn’t have an active market, its fair value is determined by the valuation technique.
Valuation techniques mainly include market approach, income approach and cost method. In limited circumstances,
if the recent information used to determine the fair value is insufficient, or the possible estimated amount of fair
value is widely distributed, and the cost represents the best estimate of the fair value within the range, the cost may
represent the appropriate estimates of fair value within this distribution. The Company uses all the information
about the performance and operations of the investee that can be obtained after the initial recognition date to judge
whether the cost can represent the fair value.
(4) Confirmation basis and measurement method for transfer of financial assets and financial liabilities
① Financial assets
If the financial asset of the Company meets one of the following conditions, it shall be derecognized: a. the
contractual right to receive the cash flow of the financial asset is terminated; b.the financial asset has been
transferred, and the Company has transferred almost all the risks and remuneration of ownership of the financial
assets; c.the financial asset has been transferred., although the Company has neither transferred nor retained almost
all remuneration of the financial assets, it does not retain control over the financial asset.
If the Company neither transfers nor retains almost all remuneration of the financial asset, and does not retain
control over the financial asset, the relevant financial asset is recognized according to the extent of continuing
involvement in the transferred financial asset, and the related liabilities are recognized accordingly.
If the financial asset transfer generally meets the conditions for derecognition, the difference between the following
two amounts is included in the current profit and loss: a. the book value of the transferred financial asset on the date
of derecognition; b. the sum of the consideration received due to the transfer of financial asset and the amount (the
financial asset involving transfer is classified as the financial asset measured at fair value and whose changes are
included in other comprehensive income)corresponding to the derecognition portion in cumulative amount of
changes in fair value originally and directly included in other comprehensive income.
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If partial transfer of financial asset meets the conditions for derecognition, the whole book value of the transferred
financial asset will be apportioned between the derecognition portion and the non-derecognition portion according
to the respective fair value at the transfer date, and then include the difference of following two amounts in profit
and loss for the current period: a. the book value of the derecognized portion on the date of derecognition; b. the sum
of the consideration received from the derecognized portion and the amount (the financial asset involving transfer is
classified as the financial asset measured at fair value and whose changes are included in other comprehensive
income) corresponding to the derecognition portion in cumulative amount of changes in fair value originally
included in other comprehensive income.
②Financial liabilities
If the current obligation of a financial liability (or part of it) has been discharged, the Company derecognizes the
financial liability (or part of the financial liability). If a financial liability (or a part of it) is derecognized, the
Company includes the difference between the book value and the consideration paid (including the transferred
non-cash assets or liabilities assumed) in current profit and loss.
(5) Methods for determining expected credit losses and accounting treatment methods
①Methods for determining expected credit losses
Based on the expected credit losses, the Company conducts accounting for impairment and confirms loss provisions
for financial assets (including receivables) measured at amortized cost, debt investments measured at fair value and
whose changes are included in other comprehensive income (including receivables financing) ), and lease
receivables.
On each balance sheet date, the Company assesses whether the credit risk of relevant financial instrument has
increased significantly since the initial recognition. The process of credit impairment of financial instrument is
divided into three stages, and there are different accounting treatment methods for the impairment of financial
instrument at different stages: 1) In the first stage, if the credit risk of financial instrument has not increased
significantly since the initial recognition, the Company measures the loss provisions according to the expected
credit losses of the financial instrument in the next 12 months, and calculate the interest income according to its
book balance (i.e., not deducting provision for impairment) and effective interest rate. 2)In the second stage, if the
credit risk of financial instrument has increased significantly since the initial recognition but no credit impairment
has occurred, the Company measures the loss provisions according to the expected credit losses of the financial
instrument for the entire duration, and calculate the interest income according to its book balance and effective
interest rate. 3) In the third stage, if the credit risk has credit impairment, the Company measures the loss provisions
according to the expected credit losses of the financial instrument for the entire duration, and calculate the interest
income according to its book balance (book balance impairment has made provisions for impairment) and
effective interest rate.
1) Method for measuring loss provisions for financial instruments with lower credit risk
For financial instruments with lower credit risk on the balance sheet date, the Company can directly make the
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assumption that the credit risk of the instrument has not increased significantly since the initial recognition without
comparing with the credit risk at the initial recognition.
If the default risk of financial instruments is low, the debtor has a strong ability to fulfill its contractual cash flow
obligations in the short term, and even if there are unfavorable changes in the economic situation and operating
environment in a long period of time, it may not necessarily reduce the borrower’s ability to fulfill its contractual
cash flow obligations, and the financial instrument shall be deemed to have low credit risk.
2) Methods for measuring the loss provisions of receivables
The Company adopts the simplified method for receivables formed by transactions regulated by the Accounting
Standards for Business Enterprises No. 14 - Revenue (whether or not it contains significant financing components),
that is, the loss provisions are always measured according to the expected credit loss for the entire duration.
According to the nature of financial instruments, the Company assesses whether the credit risk has increased
significantly on the basis of individual financial assets or a combination of financial assets. The Company divides
notes receivable and accounts receivable into a number of combinations based on credit risk characteristics, and
calculates expected credit losses on the basis of the combination.
A. For accounts receivable among companies within the scope of the Company's consolidated statements, the
Company judges that there is no expected credit loss, and no credit loss provision is made.
B. For accounts receivable outside the enterprises within the scope of the consolidated statements of the Company,
the Company makes reference to the historical credit loss experience, combines with the current situation and the
forecast of future economic conditions, prepares the accounts receivable aging and the expected credit loss rate
comparison table for the entire duration, and calculates the expected credit loss.
C. If the Company obtains sufficient evidence of a significant increase in credit risk on a single account receivable,
the expected credit loss of the account receivable is determined based on the difference between the book value of
the receivable and the present value of the cash flow expected to be received, and provisions for loss are made.
3)Method for measuring loss provisions of other financial assets
For financial assets other than those mentioned above, such as debt investment, other debt investment, other
receivables, long-term receivables other than lease receivables, etc., the Company measures loss provisions
according to the general method, namely the “three-stage” model.
②Accounting treatment methods of expected credit losses
In order to reflect the changes in the credit risk of financial instruments since the initial recognition, the Company
re-measures the expected credit losses on each balance sheet date, and the increase or reversal amount of the loss
provisions resulting from this shall be treated as impairment losses or gains and included in the current profit and
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loss, and according to the type of financial instruments, the book value of the financial assets listed in the balance
sheet is deducted or included in the estimated liabilities (loan commitments or financial guarantee contracts) or
included in other comprehensive income (debt investments measured at fair value and whose changes are included
in other comprehensive income).
11. Account receivable
Found more in Note V-10 Financial instrument
12. Other account receivable
Determination and accounting treatment on expected credit loss of other account receivable
Found more in Note V-10 Financial instrument
13. Inventory
(1)Classification of inventory
Inventory means finished goods and merchandise that are ready for sale, work-in-progress, or material used in the
process of production or provision of service in the ordinary course of business. Inventory includes raw materials,
revolving materials (packaging, low-value consumables), merchandise in warehouse and goods in transit.
(2)Measurement
Inventories, when delivered, would be determined the actual cost under moving weighted average method.
(3)Provision for impairment of inventory
At the balance sheet date, inventory is recorded at the lower of cost and net realizable value on an individual basis.
For items with significant quantity and low values, provision is made based on their categories.
Net realizable value of inventories is determined as follows: ① net realizable value of finished goods is the
estimated selling price less relevant tax and selling expenses. The inventories of the Company mainly refer to
long-line fishing tuna. The ending net realizable value is determined at the quotation of Qingshui Fishery Ground
of Japan on the date which is the most close to the balance sheet date less the relevant expenses that would occur
to realize product sales; ② for materials held for production, net realizable value equals the cost if the net
realizable value of the finished goods produced from the materials exceeds the cost; when the price of raw
materials decreases indicating that the net realizable value of the relevant finished goods would be lower than cost,
the net realizable value is the estimated selling price less costs to completion, selling expenses and relevant tax;
and ③ net realizable value of materials held for sale is the market price.
(4)Inventory stocking system
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The Company adopts perpetual inventory system for stocking.
(5)Amortization of low value consumables and packing materials
The Company adopts fifty amortization method for low value consumables and packing materials.
14. Contract assets
The Company lists the right to receive consideration (and this right depends on factors other than the passage of
time) due to transfer of goods or services to customers as contract assets. Contract assets are provided for
impairment based on expected credit losses.
For the determination method and accounting treatment method of the Company to expected credit loss of
contract assets, please refer to the related content of "financial instruments" in accounting policies and accounting
estimates.
15. Contract cost
The Company’s contract costs include incremental costs incurred to obtain contracts and contract performance
costs. The incremental costs incurred to obtain the contract ("contract acquisition costs") refer to the costs that
would not be incurred without obtaining the contract. If the cost is expected to be recovered, the Company will
recognize it as an asset as the contract acquisition cost.
The cost incurred by the Company for the performance of the contract that does not fall within the scope of other
business accounting standards such as inventory and meets the following conditions at the same time is
recognized as an asset as the contract performance cost:
(1) The cost is directly related to a current or expected contract, including direct labor, direct materials,
manufacturing expenses (or similar expenses), costs clearly borne by the user, and other costs incurred solely due
to the contract;
(2) The cost increases the Company's future resources for fulfilling contract performance obligations;
(3) The cost is expected to be recovered.
The Company amortizes the assets recognized for contract acquisition costs and contract performance costs
(hereinafter referred to as "assets related to contract costs") on the same basis as the recognition of commodity
revenue related to the assets and includes in the current profits and losses. If the amortization period of the asset
formed by the incremental cost of obtaining the contract does not exceed one year, it shall be included in the
current profits and losses when it occurs.
When the book value of the asset related to the contract cost is higher than the difference between the following
two items, the Company will make provisions for impairment for the excess part and recognize it as an asset
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impairment loss:
(1) Remaining consideration expected to be obtained due to the transfer of commodities related to the asset;
(2) Cost estimated to incur for the transfer of the relevant goods.
16. Long-term equity investments
(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 of “Accounting Standards for Business Enterprise No.7- Exchange of the Non-monetary Assets”.
(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
equity investments indirectly held by the investor shall be measured at fair value through profit or loss according
to relevant requirements of Accounting Standards for Business Enterprises No.22—Recognition and measurement
of Financial Instruments regardless whether the above entities have significant influence on such part of equity
investments, while the remaining part shall be measured using equity method.
(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.
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17. Investment real estate
Measurement for investment real estate
Cost method
Depreciation or amortization method
Investment real estate of the Company refers to the leased buildings. The 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.
18. 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
Annual depreciation
Category Depreciation method Depreciation life (year) Salvage rate
rate
Straight-line
House and building 20-40 0-10 2.25-5.00
depreciation
Straight-line
Vessel and netting gear 5-30 3-5 3.17-19.40
depreciation
Straight-line
Machine equipment 8-20 0-10 4.5-12.50
depreciation
Transportation Straight-line
5 0-10 18.00-20.00
equipment depreciation
Furniture and office Straight-line
5 0-10 18.00-20.00
equipment depreciation
The Company's fixed assets mainly include housing and buildings, vessels and netting, machinery and equipment, transportation
equipment, furniture and office equipment; and the depreciation method adopts the straight-line depreciation. The useful life and
estimated net residual value of fixed assets are determined by the nature and use condition of various types of fixed assets. The useful
life, estimated net residual value, and depreciation method of fixed assets are rechecked at the end of the year, if there is difference
with the former estimated number, corresponding adjustments should be made. In addition to the fixed assets that have been accrued
depreciation and still continue to use and the land that has been separately valued and recorded, the Company counts and draws the
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depreciation of all fixed assets.
(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.
19. Construction in progress
Construction in progress of the Company divided as self-run construction and out-bag construction. The
Construction 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.
20. 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
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
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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.
21. 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 estimate 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.
Amortization of intangible assets with limited life:
Category Service life (Year) Amortization method
Land use rights 42 Straight-line method
Patent 10 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.
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(2) Accounting policy of the internal R&D expenditure
Expenditures in the research phase of internal research and development projects shall be included in the current
profits and losses when incurred; expenditures in the development phase shall be recognized as intangible assets if
the following conditions are met at the same time: (1) Completing the intangible asset so that it can be used or
sold and has technical feasibility; (2) With the intention to complete the intangible asset and use or sell it; (3) The
method of intangible asset generating economic benefits, including the ability to prove that the product produced
by the intangible asset exists in the market or the intangible asset itself exists in the market, if the intangible asset
will be used internally, its usefulness can be proved; (4) Sufficient technical, financial resources and other
resource support are available to complete the development of the intangible asset and have the ability to use or
sell the intangible asset; (5) The expenditures vested in the development stage of this intangible asset can be
reliably measured.
The specific criteria for dividing the research phase and the development phase of internal research and
development projects: the planned investigation phase for acquiring new technology and knowledge should be
determined as the research phase, which has the characteristics of planning and exploratory nature; before
commercial production or use, the stage of applying research results or other knowledge to a certain plan or
design to produce new or substantially improved materials, devices, products, etc. should be determined as the
development stage, which has the characteristics of pertinence and greater possibility of forming results.
22. Long-term assets impairment
Long-term equity investments, investment properties measured at cost and long-term assets such as fixed assets,
construction in progress, productive biological assets at cost method, oil and gas assets, intangible assets and
goodwill are tested for impairment if there is any indication that an asset may be impaired at the balance date. If
the result of the impairment test indicates that the recoverable amount of the asset is less than its carrying amount,
a provision for impairment and an impairment loss are recognized for the amount by which the asset’s carrying
amount exceeds its recoverable amount.
The recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the future
cash flows expected to be derived from the asset. Provision for asset impairment is determined and recognized on
the individual asset basis. If it is not possible to estimate the recoverable amount of an individual asset, the
recoverable amount of a group of assets to which the asset belongs is determined. A group of assets is the smallest
group of assets that is able to generate independent cash inflows.
Goodwill arising from a business combination is tested for impairment at least at each year end, irrespective of
whether there is any indication that the asset may be impaired. For the purpose of impairment testing, the carrying
amount of goodwill acquired in a business combination is allocated from the acquisition date on a reasonable
basis to each of the related asset groups; if it is impossible to allocate to the related asset groups, it is allocated to
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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.
23. 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.
24. Contractual liabilities
The obligations to transfer the goods or provided the services to customers after receiving or receivable
consideration from the customers are listed as contractual liabilities.
The contractual assets and liabilities under the same contract are listed by net amount.
25. 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 accounting standards of the enterprise, to the related costs of assets
for the current period. At the time of actual occurrence, The Company’s employee benefits are recorded into the
profits and losses of the current year or assets associated costs according to the actual amount. The non-monetary
employee benefits are measured at fair value. Regarding to the medical and health insurance, industrial injury
insurance, maternity insurance and other social insurances, housing fund and labor union expenditure and
personnel education that the Company paid for employees, the Company should recognize corresponding
employees benefits payable according to the appropriation basis and proportion as stipulated by relevant
requirements and recognize the corresponding liabilities and include these expenses in the profits or losses of the
current period or recognized as respective assets costs.
(2) Accounting for post-employment benefits
During the accounting period in which an employee provides service, the amount payable calculated under
defined contribution scheme shall be recognized as a liability and recorded in profit and loss of the current period
or in assets. In respect of the defined benefit scheme, the Company shall use the projected unit credit method and
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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.
26. Revenue
Accounting policies for recognition and measurement of revenue
The Company has fulfilled the performance obligations in the contract, that is, when the customer obtains control
of the relevant goods or services, the revenue is recognized at the transaction price allocated to the performance
obligation. Obtaining control rights of related commodities means being able to lead the use of the commodities
and obtain almost all economic benefits from them. Performance obligations refer to the Company's commitment
to transfer clearly distinguishable products to customers in the contract. The transaction price refers to the amount
of consideration that the Company expects to be entitled to receive due to the transfer of goods to the customer,
excluding the amount collected on behalf of a third party and the amount that the Company expects to return to
the customer.
Whether the performance obligation is performed within a certain period of time or at a certain point in time
depends on the terms of the contract and relevant legal provisions. If the performance obligation is performed
within a certain period of time, the Company recognizes revenue according to the performance progress.
Otherwise, the Company recognizes revenue at a certain point when the customer obtains control of the relevant
assets.
For the Company's purse seine fish sold at overseas bases, generally, the income is recognized after obtaining the
vast majority of payment from the customers and after the delivery of the fish. In the case of export sales by the
local country, the income is recognized when the shipping order and bill of lading are obtained.
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Most of the Company's longline fishing goods are shipped back to domestic sales, the sales department refers to
the transaction price of Japanese Shimizu for external sales, and both parties confirm the change of the cargo
rights based on the signing of the sales contract and the value decision table. The company confirms sales revenue
based on the sales contract and the value decision table.
Domestic sales of the Company's aquatic products processing: Shandong Zhonglu Oceanic (Yantai) Foods Co.,
Ltd. issues a delivery confirmation according to the fax or mail order from domestic customers, and the sales staff
arrange the warehouse management department to stock up and deliver the goods by air, long-distance bus or
other means of delivery, the company issues the sales invoice and confirms the sales revenue according to the
delivery confirmation issued by the sales department and signed by the warehouse management department.
Foreign sales of the Company's aquatic products processing: After the international trade department obtains the
purchase orders of foreign customers, it issues an export delivery confirmation form and arranges the storage and
transportation department to stock up. After the export goods are packed and sent out, the warehouse management
department sign on the delivery confirmation issued by the international trade department, and obtain the export
documents such as packing list and bill of lading issued by the transportation department after shipment, and
obtain the export declaration form issued by the customs. The company issues the sales invoice and confirms the
sales revenue according to the export documents such as delivery confirmation, packing list and customs
declaration.
The Company's vessel rental income: The transportation vessel leasing of Shandong Zhonglu Aquatic Marine Co.,
Ltd. and HABITAT INTERNATIONAL CORPORATION's adopts the time charter, the company leases the ships
equipped with operators to others for a certain period of time, and waits for the dispatch of the leasee during the
lease term. Regardless of whether it is operated or not, the rental fee is charged to the lessee on a daily basis, and
the company is responsible for the occurrence of fixed expenses (such as personnel salaries, maintenance costs,
etc.). During the term of the lease, the customer settles accounts regularly and the revenue is recognized according
to the number of lease days confirmed by the customer.
27. Government subsidy
(1) Types of government subsidy and accounting treatment
government subsidy refer to monetary assets or non-monetary assets that the Company obtains from the
government without compensation (but excluding the capital invested by the government as the owner). If the
government grant is a monetary asset, it shall be measured according to the amount received or receivable. If the
government grant is a non-monetary asset, it shall be measured at fair value; if the fair value cannot be obtained
reliably, it is measured at the nominal amount.
government subsidy related to daily activities are included in other income in accordance with the economic
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
business. government subsidy not related to daily activities are included in the non-operating income and
expenditure.
government subsidy that the government documents clearly stipulate for acquisition and construction or forming
long-term assets in other ways are recognized as government subsidy related to assets. If the government
documents do not clearly specify the grant target, government subsidy that can form long-term assets, of which
the part corresponding to the asset value is used as the government subsidy related to the assets, and the rest is
used as the government subsidy related to the income; if it is difficult to distinguish, the whole government
subsidy will be used as a government grant related to income. government subsidy related to assets are recognized
as deferred income. The amount recognized as deferred income is included in the current profit and loss in a
reasonable and systematic manner within the useful life of the relevant asset.
government subsidy other than government subsidy related to assets are recognized as government subsidy related
to income. If a government grant related to the income is used to compensate the relevant expenses or losses of
the enterprise in the future period, it is recognized as deferred income and is included in the current profit and loss
during the period of recognizing related expenses; the government grant used to compensate the occurred relevant
expenses or losses of the enterprise is directly included in the current profit and loss.
The Company obtains the policy preferential loan interest subsidy, and the government allocates the interest
subsidy funds to the loan bank. If the loan bank provides loans to the Company at a policy preferential interest
rate, the actually received loan amount will be used as the entry value of the loan, and the relevant borrowing
costs will be calculated according to the loan principal and the policy preferential interest rate. If the government
directly allocates the interest subsidy to the Company, the Company will offset the corresponding interest subsidy
against relevant borrowing costs.
(2) Confirmation time-point of government subsidy
government subsidy are recognized when they meet the conditions attached to government subsidy and can be
received. government subsidy measured in accordance with the amount receivable are recognized when there is
conclusive evidence at the end of the period that they conform to relevant conditions stipulated in the financial
support policy and are expected to receive financial support funds. Other government subsidy other than
government subsidy measured in accordance with the receivable amount are recognized when the grant is actually
received.
28. 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
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
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.
29. Leasing
(1) Accounting treatment for operating lease
Operating lease payments are recognized on a straight-line basis over the term of the relevant lease, and are either
included in the cost of related asset or charged to profit or loss for the period.
(2) Accounting treatment for finance lease
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 account payable.
30. Changes of other important accounting policy and estimation
(1) Changes in important accounting policies
√Applicable □Not applicable
Content and causes of accounting policy
Approval procedures Note
changed
Change the accounting policy according
to the “Accounting Standards for
Approved by the BOD
Business Enterprises No.14- Revenue”
revised and issued by Ministry of
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Finance in July 2017
The company implements the "Accounting Standards for Business Enterprises No. 14- Revenue " (CK [2017] No. 22) revised and
issued by the Ministry of Finance. Other unaltered parts are still implemented in accordance with the "Accounting Standards for
Business Enterprises - Basic Standards" promulgated by the Ministry of Finance in the previous period and the various specific
accounting standards, the application guide of the accounting standards for business enterprises, the interpretation announcement of
the accounting standards for business enterprises and other relevant regulations.
The company has implemented the above revised standards from January 1, 2020, and adjusted the relevant content of accounting
policies.
According to the "Accounting Standards for Business Enterprises No. 14 - Revenue" revised by the Ministry of Finance, incorporates
the current revenue and construction contract standards in a unified revenue recognition model; use the transfer of control rights
instead of risk reward transfer as the judgment standard for the point in time of revenue recognition; provides clearer guidance for the
accounting treatment of contracts that include multiple transaction arrangements; gives clear regulations for the revenue recognition
and measurement of certain specific transactions (or events).
According to the convergence regulations, the cumulative impact number of the first implementation of this standard is used to adjust
the amount of retained earnings at the beginning of the period and the amount of other related items in the financial statements, and
no adjustment is made to the information during comparable period. This change of accounting policy is made by the company in
accordance with the relevant regulations and requirements issued by the Ministry of Finance. After the change, the accounting policy
can objectively and fairly reflect the company's financial status and operating results, and comply with relevant laws and regulations
and the actual situation of the company. This accounting policy change only adjusts the retained earnings at the beginning of the
period and other related items in the financial statements, and will not have a significant impact on the company's financial status,
operating results and cash flow, and there is no harm to the company and the shareholders' interests.
Item of consolidate statement 2019-12-31 2020-01-01 Impact amount
Account received in 18,477,646.54 -18,477,646.54
advance
Contractual liability 18,477,646.54 18,477,646.54
(2)Change of important accounting estimates
□Applicable √Not applicable
(3) Adjust relevant items of financial statements at beginning of the year of fist implementation of the new
revenue standards and new leasing standards since 2020
Applicable
Whether need to adjust the items of balance sheet at the beginning of the year
√Yes □No
Consolidate balance sheet
In RMB
Item 2019-12-31 2020-01-01 Adjustment
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Current assets:
Monetary fund 186,011,644.29 186,011,644.29
Settlement provisions
Capital lent
Trading financial
assets
Derivative financial
assets
Notes receivable
Account receivable 70,003,394.30 70,003,394.30
Receivables financing
Accounts paid in
17,350,069.13 17,350,069.13
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
Other account
4,343,207.56 4,343,207.56
receivable
Including: interest
receivable
Dividend
receivable
Buying back the sale
of financial assets
Inventories 375,744,116.36 375,744,116.36
Contractual assets
Assets held for sale
Non-current asset due
within one year
Other current assets 32,027,587.58 32,027,587.58
Total current assets 685,480,019.22 685,480,019.22
Non-current assets:
Loans and payments
on behalf
Creditors’ investment
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Other creditor’s
investment
Long-term account
receivable
Long-term equity
investments
Other equity
instrument investment
Other non-current
financial assets
Investment real estate 32,761,086.11 32,761,086.11
Fixed assets 551,167,599.49 551,167,599.49
Construction in
progress
Productive biological
asset
Oil and gas asset
Right-of-use asset
Intangible assets 13,196,284.54 13,196,284.54
Expense on Research
and Development
Goodwill
Long-term prepaid
435,134.13 435,134.13
expenses
Deferred income tax
1,845,872.82 1,845,872.82
asset
Other non-current
3,640,847.49 3,640,847.49
asset
Total non-current asset 603,046,824.58 603,046,824.58
Total assets 1,288,526,843.80 1,288,526,843.80
Current liabilities:
Short-term loans 51,662,365.00 51,662,365.00
Loan from central
bank
Capital borrowed
Trading financial
liability
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Derivative financial
liability
Notes payable
Accounts payable 94,725,231.68 94,725,231.68
Accounts received in
18,477,646.54 -18,477,646.54
advance
Contractual liability 18,477,646.54 18,477,646.54
Selling financial asset
of repurchase
Absorbing deposit and
interbank deposit
Security trading of
agency
Security sales of
agency
Wage payable 49,149,654.32 49,149,654.32
Taxes payable 3,597,925.54 3,597,925.54
Other accounts
8,634,438.40 8,634,438.40
payable
Including: interest
payable
Dividend
payable
Commission charge
and commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities
due within one year
Other current
liabilities
Total current liabilities 226,247,261.48 226,247,261.48
Non-current liabilities:
Insurance contract
reserve
Long-term loans
Bonds payable
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Including: preferred
stock
Perpetual
capital securities
Lease liability
Long-term account
payable
Long-term wages
1,378,471.70 1,378,471.70
payable
Accrual liability
Deferred income 15,764,480.48 15,764,480.48
Deferred income tax
liabilities
Other non-current
liabilities
Total non-current liabilities 17,142,952.18 17,142,952.18
Total liabilities 243,390,213.66 243,390,213.66
Owners’ equity:
Share capital 266,071,320.00 266,071,320.00
Other equity
instrument
Including: preferred
stock
Perpetual
capital securities
Capital reserve 284,054,997.75 284,054,997.75
Less: treasury stock
Other comprehensive
707,156.17 707,156.17
income
Reasonable reserve
Surplus reserve 21,908,064.19 21,908,064.19
Provision of general
risk
Retained profit 314,460,431.58 314,460,431.58
Total owner’s equity
attributable to parent 887,201,969.69 887,201,969.69
company
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Minority interests 157,934,660.45 157,934,660.45
Total owner’s equity 1,045,136,630.14 1,045,136,630.14
Total liabilities and
1,288,526,843.80 1,288,526,843.80
owner’s equity
Explanation
The company has implemented the new revenue standard from January 1, 2020.According to the convergence regulations, the
cumulative impact number of the first implementation of this standard is used to adjust the amount of retained earnings at the
beginning of the period and the amount of other related items in the financial statements, and no adjustment is made to the
information during comparable period. This change of accounting policy is made by the company in accordance with the relevant
regulations and requirements issued by the Ministry of Finance. After the change, the accounting policy can objectively and fairly
reflect the company's financial status and operating results, and comply with relevant laws and regulations and the actual situation of
the company. This accounting policy change only adjusts the retained earnings at the beginning of the period and other related items
in the financial statements, and will not have a significant impact on the company's financial status, operating results and cash flow,
and there is no harm to the company and the shareholders' interests.
Balance sheet of parent company
In RMB
Item 2019-12-31 2020-01-01 Adjustment
Current assets:
Monetary fund 56,205,332.78 56,205,332.78
Trading financial
assets
Derivative financial
assets
Notes receivable
Account receivable 29,071,151.64 29,071,151.64
Receivables financing
Accounts paid in
4,729,985.40 4,729,985.40
advance
Other account
181,768,872.70 181,768,872.70
receivable
Including: interest
receivable
Dividend
94,566,287.92 94,566,287.92
receivable
Inventories 34,787,467.34 34,787,467.34
Contractual assets
Assets held for sale
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Non-current asset due
within one year
Other current assets 2,079,593.94 2,079,593.94
Total current assets 308,642,403.80 308,642,403.80
Non-current assets:
Creditors’ investment
Other creditor’s
investment
Long-term account
5,196,204.31 5,196,204.31
receivable
Long-term equity
232,189,455.23 232,189,455.23
investments
Other equity
instrument investment
Other non-current
financial assets
Investment real estate 32,761,086.11 32,761,086.11
Fixed assets 58,708,493.74 58,708,493.74
Construction in
progress
Productive biological
asset
Oil and gas asset
Right-of-use asset
Intangible assets 846,324.29 846,324.29
Expense on Research
and Development
Goodwill
Long-term prepaid
88,996.85 88,996.85
expenses
Deferred income tax
asset
Other non-current
1,279,247.49 1,279,247.49
asset
Total non-current asset 331,069,808.02 331,069,808.02
Total assets 639,712,211.82 639,712,211.82
Current liabilities:
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Short-term loans
Trading financial
liability
Derivative financial
liability
Notes payable
Accounts payable 6,504,914.36 6,504,914.36
Accounts received in
2,161,006.77 -2,161,006.77
advance
Contractual liability 2,161,006.77 2,161,006.77
Wage payable 16,431,213.09 16,431,213.09
Taxes payable 452,563.73 452,563.73
Other accounts
88,931,206.55 88,931,206.55
payable
Including: interest
payable
Dividend
payable
Liability held for sale
Non-current liabilities
due within one year
Other current
liabilities
Total current liabilities 114,480,904.50 114,480,904.50
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred
stock
Perpetual
capital securities
Lease liability
Long-term account
payable
Long-term wages
984,566.68 984,566.68
payable
Accrual liability
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Deferred income
Deferred income tax
liabilities
Other non-current
liabilities
Total non-current liabilities 984,566.68 984,566.68
Total liabilities 115,465,471.18 115,465,471.18
Owners’ equity:
Share capital 266,071,320.00 266,071,320.00
Other equity
instrument
Including: preferred
stock
Perpetual
capital securities
Capital reserve 279,115,900.17 279,115,900.17
Less: treasury stock
Other comprehensive
income
Reasonable reserve
Surplus reserve 19,184,672.34 19,184,672.34
Retained profit -40,125,151.87 -40,125,151.87
Total owner’s equity 524,246,740.64 524,246,740.64
Total liabilities and
639,712,211.82 639,712,211.82
owner’s equity
Explanation
The company has implemented the new revenue standard from January 1, 2020.According to the convergence regulations, the
cumulative impact number of the first implementation of this standard is used to adjust the amount of retained earnings at the
beginning of the period and the amount of other related items in the financial statements, and no adjustment is made to the
information during comparable period. This change of accounting policy is made by the company in accordance with the relevant
regulations and requirements issued by the Ministry of Finance. After the change, the accounting policy can objectively and fairly
reflect the company's financial status and operating results, and comply with relevant laws and regulations and the actual situation of
the company. This accounting policy change only adjusts the retained earnings at the beginning of the period and other related items
in the financial statements, and will not have a significant impact on the company's financial status, operating results and cash flow,
and there is no harm to the company and the shareholders' interests.
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(4) Retrospective adjustment of early comparative data for the first implementation of new financial
standards and new lease standards since 2020
□Applicable √Not applicable
VI. Taxes
1. Major tax and tax rate
Taxes Taxation basis Tax rate
Output tax minor the deductible input
VAT 13%, 9%, 6%, 5%
tax
Urban maintenance and construction tax Turnover taxes payable 7%
Corporate income ax Taxable amount Exemption, 25%, 8%
Explain the different taxation entity of the enterprise income tax
Taxation entity Income tax rate
Imposing no tax on distant fishing, and 25% for the house
Shandong Zhonglu Oceanic Fisheries Company Limited
leasing
Shandong Zhonglu Haiyan Deep-sea Fishery Co., Ltd. Exemption
AFRICA STAR FISHERIES LIMITED 8% for export parts, 25% for domestic sales
HABITAT INTERNATIONAL CORPORATION Exemption
LAIF FISHERIES COMPANY LIMITED 25%
ZHONG GHA FOODS COMPANY LIMITED 25%
Shandong Zhonglu Fishery Shipping Co., Ltd. 25%
Imposing no tax on aquatic product processing, and 25% for
Shandong Zhonglu Ocean Refrigerated Co., Ltd.
refrigeration service
Imposing no tax on aquatic product processing, and 25% for
Shandong Zhonglu Oceanic (Yantai) Foods Co., Ltd.
refrigeration service
2. Preferential tax
(1) VAT tax preference:
According to the relevant provisions of the Circular About the Provisional Management Method of Not Levying the Tax on the
Aquatic Products Directly Caught by Ocean Fishery Enterprises (SS No. [2000] 260), China's ocean fishery enterprises stipulate on
the high seas or in accordance with the relevant agreements that the aquatic products caught in foreign sea areas and sent back for
domestic sales should be regarded as the domestic products and should not be levied the import duties and import VAT. If the
corresponding domestic sales business is the primary agricultural products sales, exempt from the VAT according to the provisions of
VAT rules. The Company's sales revenue from ocean-going fishing operations is exempt from VAT.
(2) Income tax preference:
According to relevant regulation of Circular of the Preferential Policies Concerning Corporate Income Tax (CSZ No.[1994]001), the
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Letter About Relevant Issue About Accelerating the Development of China's Ocean Fisheries (CN No. [2000] 104) of the Ministry of
Finance, the Enterprise Income Tax Law of the People's Republic of China (PRC Presidential Decree No. [2007] 63), the
Enforcement Regulations of Enterprise Income Tax Law of the People's Republic of China (PRC State Council Decree No. 512),
Notice About Issuing the Preliminary Processing Scope (Trial) of Agricultural Products that Enjoy the Preferential Policy of
Enterprise Income Tax of Ministry of Finance and State Administration of Taxation (CS No. [2008]149), the Supplement Notice
About the Preliminary Processing Scope of Agricultural Products that Enjoy the Preferential Policy of Enterprise Income Tax of
Ministry of Finance and State Administration of Taxation (CS No. [2011] 26) and the Notice About the Preferential Problems of
Corporate Income Tax for Implementation of Agriculture Animal Husbandry and Fishery of Ministry of Finance and State
Administration of Taxation (Notice of the State Administration of Taxation 2011 No. 48), as for the initial processing of agricultural
products and the commissioned initial processing of an agricultural product, as well as the processing fees it charges, may be handled
in accordance with the tax-free items for initial processing of agricultural products. The Company's income obtained from the
ocean-going fishing business and the preliminary processing of agricultural products is exempted from corporate income tax. The
Company's income obtained from the business except for the ocean-going fishing and the preliminary processing of agricultural
products should pay the enterprise income tax at 25%.
VII. Notes to main items in consolidated financial statement
1. Monetary fund
In RMB
Item Closing balance Opening balance
Cash on hand 2,524,076.65 4,956,965.73
Bank deposit 173,464,905.42 179,646,672.99
Other monetary fund 1,408,005.57 1,408,005.57
Total 177,396,987.64 186,011,644.29
Including: Total amount save aboard 24,056,156.78 32,175,289.98
2. Trading financial assets
In RMB
Item Closing balance Opening balance
Financial assets measured by fair value
and with variation reckoned into current 10,000,000.00
gains/losses
Including:
Structured deposits 10,000,000.00
Total 10,000,000.00
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5. Account receivable
(1) Category
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Including:
Account receivable
with bad debt 95,248,2 11,267,7 83,980,55 80,013,69 10,010,30 70,003,394.
100.00% 11.83% 100.00% 12.51%
provision accrual by 57.99 06.41 1.58 9.94 5.64 30
portfolio
Including:
95,248,2 11,267,7 83,980,55 80,013,69 10,010,30 70,003,394.
Total 100.00% 11.83% 100.00% 12.51%
57.99 06.41 1.58 9.94 5.64 30
Accrual of bad debt provision on portfolio: 11,267,706.41
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio
Provision for bad debts by
95,248,257.99 11,267,706.41 11.83%
combination:
Total 95,248,257.99 11,267,706.41 --
If the provision for bad debts of accounts receivable is made in accordance with the general model of expected credit losses, please refer
to the disclosure of other account receivable to disclose related information about bad-debt provisions:
□Applicable √Not applicable
By account age
In RMB
Account age Closing balance
Within one year (one year included) 88,360,770.57
1-2 years 571,159.46
2-3 years 52,493.07
Over three years 6,263,834.89
3-4 years 574,816.88
Over five years 5,689,018.01
Total 95,248,257.99
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(2) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Opening Closing
Category Collected or
balance Accrual Charge-off Other balance
reversal
Provision for
bad debts based 10,010,305.64 1,701,273.33 444,052.56 11,267,526.41
on age
Total 10,010,305.64 1,701,273.33 444,052.56 11,267,526.41
(3) Top five account receivables collected by arrears party at ending balance
Ending balance of accounts Proportion in total receivables Bad debt preparation ending
Enterprise
receivable at ending balance balance
Hong Kong Luen Thai
12,923,568.42 13.57% 646,178.42
Seafood
HAIXINSHEN
10,303,013.91 10.82% 515,150.70
CO.LTD
NOTOS ＆
9,431,153.10 9.90% 471,557.66
COMPANY LIMITED
AFKO FISHERIES CO
6,496,248.05 6.82% 523,807.55
LTD
Shenzhen SZY Trading
5,610,741.89 5.89% 561,074.19
Co., Ltd.
Total 44,764,725.37 47.00%
4. Accounts paid in advance
(1) By account age
In RMB
Closing balance Opening balance
Account age
Amount Ratio Amount Ratio
Within one year 20,384,990.92 93.93% 16,715,518.41 96.34%
1-2 years 1,245,498.59 5.74% 564,788.72 3.26%
2-3 years 70,795.00 0.33% 69,762.00 0.40%
Total 21,701,284.51 -- 17,350,069.13 --
106
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
(2) Top 5 account paid in advance collected by objects at ending balance
Name Closing balance Ratio in total account paid in Note
advance at period-end
China Fisheries Association - access fishing fee 5,927,047.49 27.31%
Dongyi Sea Transportation Personal Company 3,786,318.86 17.45%
FISHERIES COMMISSION( GHANA) 1,478,801.71 6.81%
Dalian Chuanyang International Co., Ltd. 1,170,000.00 5.39%
Yantai Aowei Refrigeration Equipment Co., Ltd. 1,000,000.00 4.61%
Total 13,362,168.06 61.57%
5. Other account receivable
In RMB
Item Closing balance Opening balance
Other account receivable 2,633,719.57 4,343,207.56
Total 2,633,719.57 4,343,207.56
(1) Other account receivable
1) By nature
In RMB
Nature Closing book balance Opening book balance
Margin 156,311.70 571,699.92
Intercourse funds and other 7,472,019.37 8,838,749.39
Less: bad debt provision -4,994,611.50 -5,067,241.75
Total 2,633,719.57 4,343,207.56
2) Accrual of bad debt provision
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2020 627,212.45 4,440,029.30 5,067,241.75
Balance of Jan. 1, 2020
—— —— —— ——
in the period
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Current accrual 102,717.52 102,717.52
Current reversal 175,347.77 175,347.77
Balance on Jun. 30, 2020 554,582.20 4,440,029.30 4,994,611.50
Change of book balance of loss provision with amount has major changes in the period
□Applicable √Not applicable
By account age
In RMB
Account age Closing balance
Within one year (one year included) 2,225,130.93
Including within six months 66,544.39
Six months - one year 2,158,586.54
1-2 years 655,419.82
2-3 years 412,815.58
Over three years 4,334,964.74
3-4 years 54,274.66
4-5 years 35,798.26
Over 5 years 4,244,891.82
Total 7,628,331.07
3) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Opening Closing
Category Collected or
balance Accrual Written off Other balance
reversal
Provision for
bad debts based 5,067,241.75 102,717.52 175,347.77 4,994,611.50
on age
Total 5,067,241.75 102,717.52 175,347.77 4,994,611.50
4) Top 5 other account receivable collected by arrears party at ending balance
In RMB
Proportion in total
other account Ending balance of
Enterprise Nature Closing balance Account age
receivables at bad debt provision
period-end
108
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Qingdao Anning
Ship Engineering Intercourse funds 809,272.83 Over three years 10.61% 809,272.83
Co., Ltd.
Bocheng Jingwei
Software
Intercourse funds 299,000.00 Within one year 3.92% 14,950.00
Technology Co.,
Ltd.
Japan Daihatsu
Intercourse funds 288,896.39 Over 5 years 3.79% 288,896.39
Co., Ltd.
DIVING-SEAGU
Intercourse funds 207,072.50 Over 5 years 2.71% 207,072.50
LL
Wende Ship
Intercourse funds 200,000.00 Over 5 years 2.62% 200,000.00
Repair Company
Total -- 1,804,241.72 -- 23.65% 1,520,191.72
6. Inventories
Whether implemented the new revenue standards
No
(1) Category
In RMB
Closing balance Opening balance
Provision for Provision for
inventory inventory
depreciation or depreciation or
Item contract contract
Book balance Book value Book balance Book value
performance performance
cost cost
impairment impairment
provision provision
Raw materials 98,497,048.59 1,067,265.00 97,429,783.59 139,142,998.02 1,506,520.94 137,636,477.08
Inventory 298,812,210.70 3,942,499.54 294,869,711.16 236,151,661.21 3,116,468.80 233,035,192.41
Revolving
28,628.50 28,628.50 989,692.35 989,692.35
materials
Goods in transit 3,279,215.85 3,279,215.85
Low value
2,005,887.62 2,005,887.62 803,538.67 803,538.67
consumables
Total 399,343,775.41 5,009,764.54 394,334,010.87 380,367,106.10 4,622,989.74 375,744,116.36
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
(2) Provision for inventory depreciation or contract performance cost impairment provision
In RMB
Current increased Current decreased
Item Opening balance Switch back or Closing balance
Accrual Other Other
charge-off
Raw materials 1,506,520.94 439,255.94 1,067,265.00
Inventory 3,116,468.80 1,151,903.20 325,872.46 3,942,499.54
Total 4,622,989.74 1,151,903.20 765,128.40 5,009,764.54
7. Other current assets
In RMB
Item Closing balance Opening balance
Input VAT ready for deduction 14,911,213.92 31,837,201.31
Income tax prepaid 177,922.66
Prepay other taxes 12,463.61
Total 14,911,213.92 32,027,587.58
8. Other equity instrument investment
In RMB
Item Closing balance Opening balance
Southern Securities
Itemized the non-tradable equity instrument investment in the period
In RMB
Causes of those
that designated
Retained earnings measured by fair Cause of retained
transfer from value and with its earnings transfer
Dividend income Cumulative
Item Cumulative gains other variation from other
recognized losses
comprehensive reckoned into comprehensive
income other income
comprehensive
income
Other explanation:
On April 29, 2005, China Southern Securities Co., Ltd. was issued an administrative penalty of canceling the securities business
license and being ordered to close down by the China Securities Regulatory Commission. On August 16, 2006, Southern Securities
Co., Ltd. was declared bankruptcy by the Shenzhen Intermediate People’s Court. The company made a provision for impairment of
the 33 million yuan of investment cost in full of Southern Securities Co., Ltd. held by the company based on the book balance.
110
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
9. Investment real estate
(1) Measured at cost
√Applicable □Not applicable
In RMB
Construction in
Item House and building Land use rights Total
progress
I. Original book value
1.Opening balance 51,308,578.35 51,308,578.35
2.Current increased
(1) Outsourcing
(2) Inventory\fixed
assets\construction in
process transfer-in
(3) Increased by
combination
3.Current decreased
(1) Disposal
(2) Other transfer-out
4.Closing balance 51,308,578.35 51,308,578.35
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 17,660,980.18 17,660,980.18
2.Current increased 663,038.34 663,038.34
(1) Accrual or
663,038.34 663,038.34
amortization
3.Current decreased
(1) Disposal
(2) Other transfer-out
111
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
4.Closing balance 18,324,018.52 18,324,018.52
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.Closing balance 886,512.06 886,512.06
IV. Book value
1.Ending book value 32,098,047.77 32,098,047.77
2.Opening book value 32,761,086.11 32,761,086.11
(2) Measure on fair value
□Applicable √Not applicable
(3) Investment real estate without property certificate completed
In RMB
Item Book value Reasons
Houses and buildings 31,988,486.56 See the notes
Other explanation
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 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.
10. Fixed assets
In RMB
Item Closing balance Opening balance
Fixed assets 531,275,969.26 539,678,865.42
Fixed assets liquidation 11,488,734.07
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Total 531,275,969.26 551,167,599.49
(1) Fixed assets
In RMB
House and Vessel and netting Machine Transportation Furniture and
Item Total
building gear equipment equipment office equipment
I. Original book
value：
1.Opening
114,235,599.27 678,939,803.12 47,695,910.53 9,147,146.26 11,927,233.82 861,945,693.00
balance
2.Current
16,269.75 16,249,673.91 1,483,320.55 60,400.17 121,588.17 17,931,252.55
increased
(1)
7,974,371.01 1,482,515.55 112,580.27 9,569,466.83
Purchasing
(2)
Construction in
5,582,844.05 5,582,844.05
progress
transfer-in
(3) Increased
by combination
(4)
Fluctuations in 16,269.75 2,692,458.85 805.00 60,400.17 9,007.90 2,778,941.67
exchange
3.Current
4,252,342.53 1,316,249.33 296,298.34 5,864,890.20
decreased
(1) Disposal
4,252,342.53 1,316,249.33 296,298.34 5,864,890.20
or scrapping
4.Closing
114,251,869.02 690,937,134.50 47,862,981.75 8,911,248.09 12,048,821.99 874,012,055.35
balance
II. Accumulative
depreciation
1.Opening
31,952,258.72 253,213,522.57 22,766,284.17 5,324,327.47 8,852,861.15 322,109,254.08
balance
2.Current
1,405,794.67 21,888,337.09 1,858,551.25 599,498.78 198,551.58 25,950,733.37
increased
(1) Accrual 1,405,794.67 21,888,337.09 1,858,551.25 599,498.78 198,551.58 25,950,733.37
113
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
3.Current
4,039,725.40 1,150,251.12 291,498.34 5,481,474.86
decreased
(1) Disposal
4,039,725.40 1,150,251.12 291,498.34 5,481,474.86
or scrapping
4.Closing
33,358,053.39 271,062,134.26 23,474,584.30 5,632,327.91 9,051,412.73 342,578,512.59
balance
III. Impairment
provision
1.Opening
157,573.50 157,573.50
balance
2.Current
increased
(1) Accrual
3.Current
decreased
(1) Disposal
or scrapping
4.Closing
157,573.50 157,573.50
balance
IV. Book value
1.Ending book
80,893,815.63 419,717,426.74 24,388,397.45 3,278,920.18 2,997,409.26 531,275,969.26
value
2.Opening
82,283,340.55 425,568,707.05 24,929,626.36 3,822,818.79 3,074,372.67 539,678,865.42
book value
(2) Fixed assets without property certificate obtained
In RMB
Item Book value Causes
Houses and buildings 2,005,587.41 See the notes
Other explanation
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 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.
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(3) Disposal of fixed assets
In RMB
Item Closing balance Opening balance
Adjust the pending "Xin Maoxing" to
11,488,734.07
disposal of fixed assets
Total 11,488,734.07
Other explanation
11. Construction in progress
In RMB
(1) Construction in progress
In RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Atlantic Seine
4,077,658.55 4,077,658.55 0.00 4,077,658.55 4,077,658.55 0.00
Item
Total 4,077,658.55 4,077,658.55 4,077,658.55 4,077,658.55
(2) Changes of major Construction in progress
In RMB
Accum Includi
Propor
ulative ng:
tion of
Openi Curren Transf Closin amoun interes
Other project Work Capital Capital
Item ng t er to g t of t
Budget decrea invest progre izing resour
Name balanc increas fixed balanc interes capital
sing ment ss rate ces
e ed assets e t ization
in
capital in
budget
ization Period
"Tyron
e 2"
5,372, 5,372, Compl
round 0.00 0.00 Other
721.96 721.96 eted
overha
ul
5,372, 5,372,
Total 0.00 -- -- --
721.96 721.96
115
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
12. Intangible assets
(1) Intangible assets
In RMB
Non-patented
Item Land use rights Patent right Computer software Total
technology
I. Original book
value
1.Opening
17,154,729.00 1,950,771.84 19,105,500.84
balance
2.Current
292,216.61 292,216.61
increased
(1)
292,216.61 292,216.61
Purchasing
(2) Internal
R&D
(3) Increased
by combination
3.Current
decreased
(1) Disposal
4.Closing
17,154,729.00 2,242,988.45 19,397,717.45
balance
II. Accumulated
amortization
1.Opening
5,221,512.65 687,703.65 5,909,216.30
balance
2.Current
191,935.08 156,860.37 348,795.45
increased
(1) Accrual 191,935.08 156,860.37 348,795.45
3.Current
decreased
(1) Disposal
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
4.Closing
5,413,447.73 844,564.02 6,258,011.75
balance
III. Impairment
provision
1.Opening
balance
2.Current
increased
(1) Accrual
3.Current
decreased
(1) Disposal
4.Closing
balance
IV. Book value
1.Ending book
11,741,281.27 1,398,424.43 13,139,705.70
value
2.Opening book
11,933,216.35 1,263,068.19 13,196,284.54
value
The proportion of intangible assets form by internal R&D in total book value of intangible assets at period-end
13. Long-term prepaid expenses
In RMB
Amortized in
Item Opening balance Current increased Other decreased Closing balance
Period
Office building
435,134.13 197,904.52 237,229.61
decoration
Total 435,134.13 197,904.52 237,229.61
Other explanation
14. Deferred income tax asset /Deferred income tax liabilities
(1) Deferred income tax assets without offset
In RMB
Item Closing balance Opening balance
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Asset impairment
957,359.10 239,339.79 957,359.10 239,339.79
provision
Deferred income 6,426,132.12 1,606,533.03 6,426,132.12 1,606,533.03
Total 7,383,491.22 1,845,872.82 7,383,491.22 1,845,872.82
(2) 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
Item deferred income tax
assets or liabilities after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred income tax
1,845,872.82 1,845,872.82
asset
(3) Deferred income tax asset without recognized
In RMB
Item Closing balance Opening balance
Deductible temporary differences 25,349,741.00 22,820,836.58
Total 25,349,741.00 22,820,836.58
15. Other non-current asset
In RMB
Closing balance Opening balance
Item Book Impairment Book Impairment
Book value Book value
balance provision balance provision
2,000,000. 2,000,000. 2,000,000. 2,000,000.
Account for lands paid in advance
00 00 00 00
Advance payment for construction in 1,640,847. 1,640,847.
394,857.06 394,857.06
progress and equipment 49 49
2,394,857. 2,394,857. 3,640,847. 3,640,847.
Total
06 06 49 49
118
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
16. Short-term loans
(1) Category
In RMB
Item Closing balance Opening balance
Mortgage loan 34,097,398.73 28,038,983.33
Credit loan 11,641,954.10 23,623,381.67
Total 45,739,352.83 51,662,365.00
17. Accounts payable
(1) Accounts payable
In RMB
Item Closing balance Opening balance
Within one year (one year included) 84,061,580.47 89,503,027.66
Over one year 5,363,096.65 5,222,204.02
Total 89,424,677.12 94,725,231.68
18. Accounts received in advance
(1) Accounts received in advance
In RMB
Item Closing balance Opening balance
19. Contract liability
In RMB
Item Closing balance Opening balance
Within one year (one year included) 20,823,713.27 17,765,800.17
Over one year 728,833.27 711,846.37
Total 21,552,546.54 18,477,646.54
20. Wage payable
(1) Wage payable
In RMB
119
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Increase during the Decrease during this
Item Opening balance Closing balance
period period
I. Short-term
45,730,031.58 66,120,706.88 79,904,872.03 31,945,866.43
compensation
II. Post-employment
welfare- defined 3,351,602.54 2,982,030.63 4,193,500.46 2,140,132.71
contribution plans
III. Dismissal welfare 34,622.89 34,622.89
IV. Other welfare due
33,397.31 3,370.81 30,026.50
within one year
Total 49,149,654.32 69,102,737.51 84,136,366.19 34,116,025.64
(2) Short-term compensation
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
1. Wages,bonuses,allowances
44,272,818.76 59,891,724.08 73,904,414.17 30,260,128.67
andsubsidies
2. Welfare for workers
2,038,323.37 2,027,992.46 10,330.91
and staff
3. Social insurance 1,776,021.97 1,776,021.97
Including: Medical
1,721,083.81 1,721,083.81
insurance
Work injury
40,213.80 40,213.80
insurance
Maternity
14,724.36 14,724.36
insurance
4. Housing accumulation
2,172,863.03 1,971,623.03 201,240.00
fund
5. Labor union
expenditure and
1,457,212.82 241,774.43 224,820.40 1,474,166.85
personnel education
expense
Total 45,730,031.58 66,120,706.88 79,904,872.03 31,945,866.43
(3) Defined contribution plans
In RMB
120
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Increase during the Decrease during this
Item Opening balance Closing balance
period period
1. Basic endowment
1,504,626.66 1,504,626.66
insurance
2. Unemployment
65,442.50 65,442.50
insurance
3. Enterprise annuity 3,351,602.54 1,229,460.27 2,440,930.10 2,140,132.71
Social security and
subsidies for retired 182,501.20 182,501.20
employees
Total 3,351,602.54 2,982,030.63 4,193,500.46 2,140,132.71
21. Taxes payable
In RMB
Item Closing balance Opening balance
VAT 218,413.26 239,608.16
Corporate income ax 1,397,032.33 1,802,946.98
Individual income tax 128,441.98 399,027.16
Urban maintenance and construction tax 6,506.01 9,769.37
House property tax 172,610.65 207,304.90
Land use tax 105,577.84 133,639.72
Educational additional 2,788.29 4,186.87
Other tax 1,752,857.23 801,442.38
Total 3,784,227.59 3,597,925.54
22. Other accounts payable
In RMB
Item Closing balance Opening balance
Other accounts payable 10,681,034.80 8,634,438.40
Total 10,681,034.80 8,634,438.40
(1) Other accounts payable
1) By nature
In RMB
121
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Item Closing balance Opening balance
Cash deposit 2,835,788.51 1,270,350.00
Employee cost 2,396,697.59 1,409,892.00
Other 5,448,548.70 5,954,196.40
Total 10,681,034.80 8,634,438.40
23. Long-term wages payable
(1) Long-term wages payable
In RMB
Item Closing balance Opening balance
I. Post-employment welfare- net liability of
448,146.54 448,146.54
defined contribution plans
III. Other long-term benefits 838,247.88 930,325.16
Total 1,286,394.42 1,378,471.70
24. Deferred income
In RMB
Increase during Decrease during
Item Opening balance Closing balance Causes
the period this period
Government
Government
15,764,480.48 637,841.62 15,126,638.86 subsidies related
subsidy
to assets
Total 15,764,480.48 637,841.62 15,126,638.86 --
Item with government subsidy concerned:
In RMB
Amount Amount
reckoned reckoned
Subsidy Cost Assets-rela
into into
Opening increase reduction Other Closing ted/
Liability non-operati non-operati
balance during this in the changes balance Income-rel
on revenue on revenue
period period ated
in the in the
Period period
Constructio
10,043,559 9,505,406. Assets-rela
n special 538,153.62
.84 22 ted
fund
Financial 5,720,920. 99,688.00 5,621,232. Assets-rela
122
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
ship-buildi 64 64 ted
ng subsidy
funds
25. Share capital
In RMB
Changes in the Period (+,-)
Opening Shares transfer Closing
Issuing new
balance Bonus shares from public Other Subtotal balance
shares
reserves
Total shares 266,071,320.00 266,071,320.00
26. Capital reserve
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
Capital premium (equity
189,093,492.79 189,093,492.79
premium)
Other capital reserve 94,961,504.96 94,961,504.96
Total 284,054,997.75 284,054,997.75
27. Other comprehensive income
In RMB
Current Period
Less:
Less: written written in
in other other
comprehensi comprehe
ve income in nsive
Account
previous income in Belong to Belong to
Opening before Closing
Item period and previous Less : income parent minority
balance income tax balance
carried period and tax expense company shareholders
in the
forward to carried after tax after tax
period
gains and forward to
losses in retained
current earnings in
period current
period
123
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
II. Other comprehensive income
2,340,778. 1,303,508. 1,037,269. 2,010,66
items which will be reclassified 707,156.17
64 70 94 4.87
subsequently to profit or loss
Differences of conversion
2,340,778. 1,303,508. 1,037,269. 2,010,66
of foreign currency financial 707,156.17
64 70 94 4.87
statements
2,340,778. 1,303,508. 1,037,269. 2,010,66
Total other comprehensive income 707,156.17
64 70 94 4.87
28. Reasonable reserve
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
Safety production fee 1,041,311.57 1,041,311.57
Total 1,041,311.57 1,041,311.57
29. Surplus reserve
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
Statutory surplus
21,908,064.19 21,908,064.19
reserves
Total 21,908,064.19 21,908,064.19
30. Retained profit
In RMB
Item Current period Last period
Retained profits at the end of last period before
314,460,431.58 232,148,801.35
adjustment
Retained profits at the beginning of the period
314,460,431.58 232,148,801.35
after adjustment
Add: net profit attributable to owners of parent
16,135,719.93 28,420,094.20
company
Retained profit at period-end 330,596,151.51 260,568,895.55
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.
124
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
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
31. Operating income and cost
In RMB
Current Period Last Period
Item
Income Cost Income Cost
Main operating 371,657,778.07 352,538,006.84 511,543,286.14 437,069,263.62
Other operating 3,933,057.60 830,328.42 3,925,373.00 797,783.51
Total 375,590,835.67 353,368,335.26 515,468,659.14 437,867,047.13
In RMB
Offset between
Category Branch 1 Branch 2 Branch 3 Branch 4 Total
segment
Product Types 122,634,986.10 52,623,995.34 226,997,325.56 2,911,099.36 -29,576,570.69 375,590,835.67
Including:
Main business
122,634,986.10 52,623,995.34 225,726,490.08 248,877.24 -29,576,570.69 371,657,778.07
income
Other operating
1,270,835.48 2,662,222.12 3,933,057.60
income
Total 122,634,986.10 52,623,995.34 226,997,325.56 2,911,099.36 -29,576,570.69 375,590,835.67
Information relating to performance obligations:
The company handled the payment, transfer of goods and other business activities related to the performance obligations in
accordance with the contract, and the performance obligations related to the current operating income have been completed.
Information related to the transaction price apportioned to the remaining performance obligations:
The amount of income corresponding to the performance obligations that have been signed at the end of this reporting period but
have not yet been fulfilled or have not done with fulfillment is 0.00 yuan, among them, yuan of revenue is expected to be recognized
in YEAR, yuan of revenue is expected to be recognized in YEAR, and yuan of revenue is expected to be recognized in YEAR.
Other explanation
32. Tax and surcharges
In RMB
Item Current Period Last Period
Urban maintenance and construction tax 162,268.12 231,486.42
125
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Educational surtax 69,543.49 99,208.47
House property tax 657,114.81 635,618.75
Land use tax 209,306.34 267,724.88
Vehicle and vessel tax 25,531.00 25,967.68
Stamp tax 79,677.45 142,593.66
Local education surcharge 46,362.33 66,138.99
Local water conservancy construction
11,590.58 16,534.75
fund
Total 1,261,394.12 1,485,273.60
33. Sales expenses
In RMB
Item Current Period Last Period
Port surcharge 2,052,570.48 2,817,934.66
Payroll payable 902,930.92 1,132,222.24
Freight and miscellaneous charges 4,303,346.96 5,754,382.37
Business publicity expenses 6,664.26 345,900.76
Travelling charge 70,294.27 288,835.76
Depreciation 35,797.78
Communication fee 10,899.77
Customs clearance and agency fees 602,583.25 1,312,910.64
Terminal charges 6,842.93 6,571.71
Other 395,426.78 337,627.78
Total 8,387,357.40 11,996,385.92
34. Administrative expenses
In RMB
Item Current Period Last Period
Payroll payable 14,217,069.57 18,665,326.51
Accumulated depreciation and
881,433.10 943,319.56
amortization
Travelling charge 297,366.94 1,078,933.34
Business entertainment 187,367.59 582,445.48
Vehicles charge 335,320.60 559,567.32
126
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Intermediary service fee 209,291.81 1,380,153.61
Office allowance 200,158.31 267,236.85
Property water and electricity 457,671.82 547,474.71
Other 4,792,438.03 5,174,758.09
Total 21,578,117.77 29,199,215.47
35. R&D expenses
In RMB
Item Current Period Last Period
Material 49,775.28
Total 49,775.28
36. Financial expenses
In RMB
Item Current Period Last Period
Interest costs 1,290,415.47 2,382,040.26
Less: interest income 375,178.04 541,927.87
Exchange loss -1,666,414.96 608,195.72
Handing expense 512,619.81 635,318.65
Other expense 76,839.12 69,039.82
Total -161,718.60 3,152,666.58
37. Other income
In RMB
Sources Current Period Last Period
Subsidy for exploitation and utilization
18,234,412.56
of international fishery resources
Shipbuilding financial discount 99,688.00 14,188.00
Financial subsidies for special
construction funds of the Blue Economic 369,133.74 419,104.74
Zone
Special funds for cold chain logistics 169,019.88
Tax rebate on individual 33,747.74
Job stabilization subsidy 128,018.47
127
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Total 19,034,020.39 433,292.74
38. Investment income
In RMB
Item Current Period Last Period
Investment income of trading financial assets
54,131.01
during the holding period
Total 54,131.01
39. Credit impairment loss
In RMB
Item Current Period Last Period
Credit impairment losses on accounts
-1,246,157.87
receivable
Credit impairment losses on other
76,667.90
receivables
Total -1,169,489.97
40. Assets impairment loss
In RMB
Item Current Period Last Period
II. Loss of inventory depreciation and loss
-1,151,903.20 -3,302.88
of contract performance cost impairment
Total -1,151,903.20 -3,302.88
41. Income from assets disposal
In RMB
Sources Current Period Last Period
Gains/losses of fixed assets disposal 55,893.20 -1,399.00
42. Non-operating income
In RMB
Amount reckoned in current
Item Current Period Last Period
non-recurring gains/losses
128
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Gains from disposal of fixed
10,111,783.13 10,111,783.13
assets
Other 10,755.50 10,755.50
Total 10,122,538.63 10,122,538.63
43. Non-operating expenses
In RMB
Amount reckoned in current
Item Current Period Last Period
non-recurring gains/losses
Donate to outsiders 278,200.00 278,200.00
Loss from scrapped fixed
351,124.43 351,124.43
assets
Other 64,644.65 24,200.00 64,644.65
Total 693,969.08 24,200.00 693,969.08
44. Income tax expenses
(1) Statement of income tax expense
In RMB
Item Current Period Last Period
Current income tax expense 597,651.69 662,058.68
Total 597,651.69 662,058.68
(2) Adjustment on accounting profit and income tax expenses
In RMB
Item Current Period
Total profit 17,358,795.42
Income tax based on statutory/applicable rate 4,339,698.86
Impact on different tax rate applicable for subsidiary -3,742,047.17
Income tax expense 597,651.69
45. Other comprehensive income
See Note XI (VII) 27.
129
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46. Items of cash flow statement
(1) Other cash received in relation to operation activities
In RMB
Item Current Period Last Period
Financial expenses-interest income 375,178.04 541,927.78
Government subsidy and other
18,395,368.37 1,000,000.00
non-operating income
Cash deposit for L/C 360,798.05
Intercourse funds and other 10,452,435.65 21,359,214.23
Total 29,222,982.06 23,261,940.06
(2) Other cash paid in relation to operation activities
In RMB
Item Current Period Last Period
Sales expenses paid in cash 7,718,987.80 2,354,341.12
Expenses of management cash paid 8,673,236.81 19,099,534.64
Pay cash for R&D expenses 8,195.00
Cash deposit for L/C 4,655,500.00
Intercourse funds and other 16,252,957.64 47,194,774.58
Total 32,653,377.25 73,304,150.34
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 16,761,143.73 31,510,402.62
Add: Asset impairment provision 2,321,393.17 3,302.88
Depreciation of fixed assets, consumption of
oil assets and depreciation of productive 25,950,733.37 23,902,779.42
biology assets
Amortization of intangible assets 348,795.45 322,215.89
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Amortization of long-term retained expense 197,904.52 148,462.80
Loss from disposal of fixed assets, intangible
assets and other long-term assets(gain is -55,893.20 1,399.00
listed with “-”)
Loss from scrapping of fixed assets (gain is
-9,760,658.70
listed with “-”)
Financial expenses (gain is listed with “-”) -375,999.50 2,382,040.26
Investment loss (gain is listed with “-”) -54,131.01
Decrease of inventory (increase is listed with
-19,741,797.71 -78,123,499.51
“-”)
Decrease of operating receivable accounts
-4,337,407.33 -7,409,603.52
(increase is listed with “-”)
Increase of operating payable accounts
-23,425,870.60 23,021,652.86
(decrease is listed with “-”)
Net cash flow arising from operating
-12,171,787.81 -4,240,847.30
activities
2. Material investment and financing not
-- --
involved in cash flow
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 175,988,982.07 171,819,949.08
Less: Balance of cash equivalent at
184,603,638.72 182,767,125.48
year-begin
Net increasing of cash and cash equivalents -8,614,656.65 -10,947,176.40
(2) Constitution of cash and cash equivalent
In RMB
Item Closing balance Opening balance
I. Cash 175,988,982.07 184,603,638.72
Including: Cash on hand 2,524,076.65 4,956,965.73
Bank deposit available for payment
173,464,905.42 179,646,672.99
at any time
III. Balance of cash and cash equivalent at
175,988,982.07 184,603,638.72
period-end
48. Assets with ownership or use right restricted
In RMB
131
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Item Ending book value Restriction reasons
Monetary fund 1,408,005.57 Cash deposit for L/C
Fixed assets 30,033,251.77 Mortgage loan
Intangible assets 5,388,512.23 Mortgage loan
Total 36,829,769.57 --
49. Item of foreign currency
(1) Item of foreign currency
In RMB
Closing balance of foreign Ending RMB balance
Item Rate of conversion
currency converted
Monetary fund -- -- 138,105,337.72
Including: USD 18,458,231.31 7.0795 130,675,048.49
EUR 293,366.22 7.9610 2,335,488.48
HKD
JPY 12,262,316.00 0.0658 806,958.50
CEDI 3,427,507.92 1.2491 4,281,134.47
XOF 554,000.00 0.0121 6,707.79
Account receivable -- -- 64,209,187.18
Including: USD 6,631,174.48 7.0795 46,945,399.70
EUR
HKD
JPY 209,011,355.00 0.0658 13,754,619.43
CEDI 2,563,482.89 1.2491 3,201,922.57
XOF 25,375,569.00 0.0121 307,245.48
Long-term loans -- --
Including: USD
EUR
HKD
Other explanation:
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(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
Book-keeping
Major foreign operation entity Foreign main operation place Basis
currency
HABITAT INTERNATIONAL Panama CNY The economic
CORPORATION environment in the
operation sites
LAIF FISHERIES COMPANY Ghana USD The economic
LIMITED environment in the
operation sites
YAW ADDO FISHERIES COMPANY Ghana USD The economic
LIMITED environment in the
operation sites
ZHONG GHA FOODS COMPANY Ghana USD The economic
LIMITED environment in the
operation sites
AFRICA STAR FISHERIES LIMITED Ghana USD The economic
environment in the
operation sites
50. Government subsidy
(1) Government subsidy
In RMB
Amount reckoned into current
Category Amount Item presented
gain/loss
Subsidy for exploitation and
utilization of international 18,234,412.56 Other income 18,234,412.56
fishery resources
Individual tax procedure
33,747.74 Other income 33,747.74
refund
Job stabilization subsidy 128,018.47 Other income 128,018.47
(2) Government subsidy refund
□Applicable √Not applicable
Other explanation:
133
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
VIII. Changes of consolidation scope
There was no change in the company's consolidation scope during the reporting period.
IX. Equity in Other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main operation Registered Share-holding ratio
Subsidiary Business nature Acquired way
place place Directly Indirectly
Shandong
Zhonglu
Qingdao Qingdao Refrigerated
Fishery 100.00% Investment
Shandong Shandong transport
Shipping Co.,
Ltd.
Shandong
Zhonglu
Yantai Yantai Food
Oceanic 74.23% 25.77% Investment
Shandong Shandong processing
(Yantai) Foods
Co., Ltd.
Shandong
Zhonglu
Haiyan Qingdao Qingdao
Pelagic fishing 59.05% Investment
Deep-sea Shandong Shandong
Fishery Co.,
Ltd.
HABITAT
INTERNATIO
Refrigerated
NAL Panama Panama 100.00% Investment
transport
CORPORATIO
N
LAIF
FISHERIES
Ghana Ghana Pelagic fishing 100.00% Investment
COMPANY
LIMITED
AFRICA STAR
FISHERIES Ghana Ghana Pelagic fishing 100.00% Investment
LIMITED
ZHONG GHA
Ghana Ghana Pelagic fishing 100.00% Investment
FOODS
134
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
COMPANY
LIMITED
Shandong
Zhonglu Ocean Yantai Yantai Refrigeration
100.00% Investment
Refrigerated Shandong Shandong service
Co., Ltd.
YAW ADDO
Ghana Ghana Pelagic fishing Operating lease
FISHERIES
(2) Important non-wholly-owned subsidiary
In RMB
Gains/losses Dividend announced to
Share-holding ratio of Ending equity of
Subsidiary attributable to minority distribute for minority
minority minority
in the Period in the Period
Shandong Zhonglu
Haiyan Deep-sea 40.95% 625,423.80 159,597,354.19
Fishery Co., Ltd.
(3) Main finance of the important non-wholly-owned subsidiary
In RMB
Closing balance Opening balance
Curren Non-c Curren Non-c
Subsid Non-c Total Non-c Total
Curren Total t urrent Curren Total t urrent
iary urrent liabilit urrent liabiliti
t assets assets liabilit liabilit t assets assets liabilit liabilit
assets ies assets es
y y y y
Shand
ong
Zhongl
u
262,15 246,63 508,79 113,44 119,07 250,89 247,53 498,42 107,04 112,76
Haiyan 5,621, 5,720,
8,605. 8,895. 7,501. 9,853. 1,085. 7,851. 1,784. 9,636. 2,602. 3,522.
Deep-s 232.64 920.64
40 67 07 04 68 01 99 00 15 79
ea
Fisher
y Co.,
Ltd.
In RMB
Current Period Last Period
Subsidiary Operation Total Cash flow Operation Total Cash flow
Net profit Net profit
Income comprehen from Income comprehen from
135
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
sive operation sive operation
income activity income activity
Shandong
Zhonglu
Haiyan 91,427,317 1,527,286. 4,060,302. -18,770,67 101,916,14 7,546,540. 7,524,638. 13,225,049
Deep-sea .45 45 18 1.72 5.57 71 11 .38
Fishery
Co., Ltd.
X. Risks related to financial instruments
The financial assets of the Company include accounts receivable and other receivables. The financial liabilities of the Company include
accounts payable, other account payable and short-term loans. For details of each financial instrument, please refer to the relevant items
in Note V. The Company is faced with the risks of various financial instruments in its daily activities, mainly including credit risk,
liquidity risk and market risk. The board of directors is responsible for establishing and supervising the risk management structure of
the Company and developing and monitoring the Company's risk management policies.
Risk management objectives and policies: the Company's goal of risk management is to strike a proper balance between risks and
profits, minimize the negative impacts of the risks on the Company's operating results and maximize the benefits of shareholders and
other equity investors.
1. Credit risk
If the customer or the other party involving in the financial instruments cannot fulfill the obligations under the contract and cause
financial losses to the Company, that is credit risk. Credit risk is mainly from the customer receivables. The book value of account
receivables and notes receivable and other receivables is the maximum credit risk of the Company for financial assets.
2. Liquidity risk
Liquidity risk is the risk of the shortage of funds when the Company is fulfilling its obligations related to financial liabilities. In the case
of normal and tense funds, the Company needs to ensure that there is sufficient liquidity to meet its due debts and negotiate with
financial institutions for financing so as to maintain a certain level of reserve credit line to reduce the liquidity risk.
3. Market risk
(1) Foreign exchange risk
Foreign exchange risk refers to the risk that the fair value of financial instruments or the future cash flows fluctuate due to changes in
foreign exchange rates. The foreign exchange risk faced by the Company mainly comes from the financial assets valued in US
dollars, and the amount of foreign currency financial assets converted into RMB is listed as described in VII. 49 foreign currency
monetary items.
(2) Interest rate risk
Interest rate risk refers to the risk that the fair value of financial instruments or future cash flows fluctuate due to changes in market
interest rates. The interest rate risk faced by the Company mainly comes from the long-term bank loans, the Company’s loans are
floating interest rate, and there is risk of RMB benchmark interest rate change.
XI. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured by fair value
In RMB
Item Ending fair value
136
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
First-order Second-order Third-order Total
I. Sustaining measured
-- -- -- --
by fair value
(I) Transactional
10,000,000.00 10,000,000.00
financial assets
(1) Investment in debt
10,000,000.00 10,000,000.00
instruments
II. Non-persistent
-- -- -- --
measured by fair value
2. Qualitative and quantitative information on the valuation techniques and important parameters used for
continuous and non-continuous third-level fair value measurement projects
According to Article 44 of the new financial instrument standard "Accounting Standards for Business Enterprises No. 22 -
Recognition and Measurement of Financial Instruments", enterprises’ investments in equity instruments and contracts related to such
investments should be measured at fair value. However, in limited circumstances, if the recent information used to determine the fair
value is insufficient, or the possible estimated amount of the fair value is distributed in a wide range, and the cost represents the best
estimate of the fair value within the range, the cost can represent the appropriate estimation of fair value within this distribution range.
There is no active market quotation for structured deposits and insufficient information to determine the fair value, so the acquisition
cost of the asset is used to represent the fair value of the trading financial asset.
XII. Related party and related transactions
1. Parent company of the enterprise
Share-holding
ratio on the Voting right ratio
Parent company Registered place Business nature Registered capital
enterprise for on the enterprise
parent company
Investment and
management,
Shandong
management and
State-owned
operation of
Assets Investment Jinan Shandong 4500 million Yuan 47.25% 47.25%
assets, managed
Holding Company
operations,
Limited
investment
advisory
Explanation on parent company of the enterprise
Ultimate controller of the Company is Shandong State-owned Assets Investment Holdings Co., Ltd.
137
山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
2. Subsidiary of the Enterprise
Found more in Note IX.” Equity in subsidiary”
3. Other related party
Other related party Relationship with the Enterprise
Inspur General Software Co., Ltd. Control by same parent company
Bank of Dezhou Co., Ltd. Control by same parent company
4. Related transaction
(1) Remuneration of key manager
In RMB
Item Current Period Last Period
Total 701,126.00 596,225.56
(2) Other related transactions
① Deposit monetary funds of related parties
Name Related party Closing balance Opening balance
Bank deposit Bank of Dezhou Co., Ltd 95,059.30 3,201,870.61
Total 95,059.30 3,201,870.61
② Other
Name Related party Closing balance Opening balance
Deposit interest income Bank of Dezhou Co., Ltd 751.00 1,027.29
Total 751.00 1,027.29
5. Receivable/payable items of related parties
(1) Receivable item
In RMB
Closing balance Opening balance
Item Name Related party
Book balance Bad debt provision Book balance Bad debt provision
Inspur General
Prepayments 394,857.06 394,857.06
Software Co., Ltd.
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
XIII. Share-based payment
1. Share-based payment
□Applicable √Not applicable
2. Share-based payment settled by equity
□Applicable √Not applicable
3. Share-based payment settled by cash
□Applicable √Not applicable
4. Amendment and termination of the share-based payment
Nil
XIV. Commitment or contingency
1. Important commitment
Important commitment on balance sheet date
No commitments that need to released ended as the reporting period
2. Contingency
(1) If the Company has no contingency need to disclosed, explain reasons
The Company has no important contingency that need to disclosed
XV. Event occurring after balance sheet date
1. Other explanation on events after balance sheet date
No events after balance sheet date need to released up to reporting period
XVI. Other important event
1. Pension plan
In accordance with relevant laws, regulations and policies, the Company has established an enterprise annuity
system, and on the basis of participating in basic pension insurance in accordance with the law, it pays
supplementary pension insurance (i.e., enterprise annuity) for employees. Each year, according to the actual
operating conditions, the operating efficiency coefficient is set, and the total amount of corporate contributions is
139
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calculated according to the operating efficiency coefficient; the expenses to be assumed by the company in the
enterprise annuity have been disclosed in the employee compensation payable - defined contribution plans, and
the individual payment of employees is withheld and paid from employee wages by the company.
2. Segment information
(1) Determination basis and accounting policy for segment
Main operation of the Company including pelagic fishing, cold storage processing trade of aquatic products,
vessel leasing and other operations. Segment disclosure is released by the business nature.
(2) Financial information of the segment
In RMB
Cold storage
processing trade Offset between
Item Pelagic fishing Vessel leasing Other Total
of aquatic segment
products
I. Main operating
122,634,986.10 52,623,995.34 225,726,490.08 248,877.24 -29,576,570.69 371,657,778.07
income
II. Main
120,620,754.64 37,760,278.70 223,569,371.83 164,172.36 -29,576,570.69 352,538,006.84
operating cost
III. Assets
1,151,903.20 1,151,903.20
impairment loss
IV. Depreciation
18,054,496.45 4,666,115.42 3,419,146.63 357,674.84 26,497,433.34
and amortization
V. Total profit 7,627,809.09 23,986,745.92 -7,312,838.39 -6,942,921.20 17,358,795.42
VI. Income tax 398,085.03 65,000.00 134,566.66 597,651.69
VII. Net profit 7,627,809.09 23,588,660.89 -7,377,838.39 -7,077,487.86 16,761,143.73
VIII. Total assets 845,274,298.71 333,172,303.58 384,095,946.44 80,640,653.12 -357,233,751.54 1,285,949,450.31
IX. Total liability 228,968,749.87 34,000,178.65 177,353,594.29 142,165,631.83 -360,777,256.84 221,710,897.80
3. Other
On December 20, 2019, Shandong Zhonglu Oceanic Fisheries Co., Ltd. (hereinafter referred to as the "Company")
released the"Announcement of Important Matters" (Announcement No.: 2019-37) about the maritime distress of
Panamanian "SEA MARK" vessel ("Xinmaoxing" vessel) owned by its wholly-owned subsidiary HABITAT
INTERNATIONAL CORPORATION, the company has also explained the follow-up related situation in the
"Annual Report 2019" and "First Quarter Report of 2020". As of the date of this announcement, the subsidiary has
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
received compensation of USD 3,000,000.00 from the Qingdao Branch of the People's Insurance Company of
China and compensation of USD 118,672.66 from the China Shipowners Mutual Insurance Association. The
insurance claim settlement of this matter has been closed. The company has carried out corresponding accounting
treatments for these insurance claims in accordance with the "Accounting Standards for Business Enterprises" and
other relevant regulations, and the final results confirmed by the audit agency shall prevail.
XVII. Principle notes of financial statements of parent company
1. Account receivable
(1) Category
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Including:
Account receivable
with bad debt 21,911,7 6,486,82 15,424,95 35,605,16 6,534,010 29,071,151.
100.00% 29.60% 100.00% 18.35%
provision accrual by 79.19 5.58 3.61 1.90 .26 64
portfolio
Including:
21,911,7 6,486,82 15,424,95 35,605,16 6,534,010 29,071,151.
Total 100.00% 29.60% 100.00% 18.35%
79.19 5.58 3.61 1.90 .26 64
Accrual bad debt provision on portfolio:
In RMB
Closing balance
Name
Book balance Bad debt provision Accrual ratio
Accrual of bad debt provision
21,911,779.19 6,486,825.58 29.60%
by portfolio
Total 21,911,779.19 6,486,825.58 --
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses, please refer
to the disclosure of other account receivable to disclose related information about bad-debt provisions:
□Applicable √Not applicable
By account age
In RMB
Account age Closing balance
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Within one year (one year included) 16,222,761.18
Over three years 5,689,018.01
Over 5 years 5,689,018.01
Total 21,911,779.19
(2) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Opening Closing
Category Collected or
balance Accrual Charge-off Other balance
reversal
Provision for
bad debts based 6,534,010.26 47,184.68 6,486,825.58
on age
Total 6,534,010.26 47,184.68 6,486,825.58
(3) Top five account receivables collected by arrears party at ending balance
Ending balance of accounts Proportion in total receivables Bad debt preparation ending
Enterprise
receivable at ending balance (%) balance
Shandong Zhonglu Oceanic
7,032,330.82 32.09%
(Yantai) Foods Co., Ltd.
AFKO CO.,LTD 4,936,163.27 22.53% 461,404.16
PNADA CO.,LTD 3,600,962.12 16.43% 3,600,962.12
HAIXINSHEN CO.,LTD 1,913,254.70 8.73% 95,662.74
MARGARET CO.,LTD 610,167.59 2.78% 30,508.38
Total 18,092,878.50 82.56%
2. Other account receivable
In RMB
Item Closing balance Opening balance
Dividend receivable 94,566,287.92 94,566,287.92
Other account receivable 97,179,645.74 87,202,584.78
Total 191,745,933.66 181,768,872.70
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
(1) Dividend receivable
1) Category
In RMB
Item (or invested company) Closing balance Opening balance
Subsidiary dividend 94,566,287.92 94,566,287.92
Total 94,566,287.92 94,566,287.92
2) Major dividend receivable with over one year aged
In RMB
Whether has
Item (or invested Causes of failure for impairment occurred
Closing balance Account age
company) collection and determination
basis
In order to meet the
capital needs of the
subsidiary's production
Subsidiary dividend 91,841,262.03 1-2 year No
and operation, no
payment has been
requested temporarily
Total 91,841,262.03 -- -- --
3) Accrual of bad debt provision
□Applicable √Not applicable
Other explanation:
(3) Other account receivable
1) By nature
In RMB
Nature Closing book balance Opening book balance
Intercourse funds between internal 96,732,665.19 86,430,396.31
Petty cash and other 4,187,035.85 4,494,160.35
Less: bad debt provision -3,740,055.30 -3,721,971.88
Total 97,179,645.74 87,202,584.78
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2) Accrual of bad debt provision
In RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1, 2020 218,936.05 3,503,035.83 3,721,971.88
Balance of Jan. 1, 2020
—— —— —— ——
in the period
Current accrual 18,083.42 18,083.42
Balance on Jun. 30, 2020 237,019.47 3,503,035.83 3,740,055.30
Change of book balance of loss provision with amount has major changes in the period
□Applicable √Not applicable
By account age
In RMB
Account age Closing balance
Within one year (one year included) 15,973,419.78
1-2 years 18,699,381.72
2-3 years 32,546,210.64
Over three years 33,700,688.90
3-4 years 382,578.15
4-5 years 72,121.25
Over 5 years 33,245,989.50
Total 100,919,701.04
3) Bad debt provision accrual, collected or reversal in the period
Accrual of bad debt provision in the period:
In RMB
Current changes
Opening Closing
Category Collected or
balance Accrual Written off Other balance
reversal
Provision for
bad debts based 3,721,971.88 18,083.42 3,740,055.30
on age
Total 3,721,971.88 18,083.42 3,740,055.30
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
4) Top 5 other account receivable collected by arrears party at ending balance
In RMB
Proportion in total
other account Ending balance of
Enterprise Nature Closing balance Account age
receivables at bad debt provision
period-end
AFRICA STAR
FISHERIES Intercourse funds 19,401,923.58 2-3 years 19.23%
LIMITED
Shandong Zhonglu
Fishery Shipping Intercourse funds 19,271,921.60 Over 3 years 19.10%
Co., Ltd.
Shandong Zhonglu
Haiyan Deep-sea Intercourse funds 13,518,875.11 Within one year 13.40%
Fishery Co., Ltd.
LAIF FISHERIES
COMPANY Intercourse funds 12,096,513.59 Within one year 11.99%
LIMITED
YAW ADDO
FISHERIES CO Intercourse funds 10,581,948.91 Over 5 years 10.49%
LTD
Total -- 74,871,182.79 -- 74.19%
3. Long-term equity investments
In RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for
232,189,455.23 232,189,455.23 232,189,455.23 232,189,455.23
subsidiary
Total 232,189,455.23 232,189,455.23 232,189,455.23 232,189,455.23
(1) Investment for subsidiary
In RMB
Opening Changes in the period (+,-) Closing Ending
The invested
balance Additional Capital Accrual of balance balance of
entity Other
(Book value) investment reduction impairment (Book value) impairment
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
provision provision
HABITAT
12,476,145.6 12,476,145.6
INTERNATI
0 0
ONAL CORP.
Shandong
Zhonglu
22,869,513.3 22,869,513.3
Fishery
8 8
Shipping Co.,
Ltd.
Shandong
Zhonglu
55,448,185.2 55,448,185.2
Oceanic
4 4
(Yantai) Food
Co., Ltd.
Shandong
Zhonglu
Haiyan 141,395,611. 141,395,611.
Deep-sea 01 01
Fishery Co.,
Ltd.
232,189,455. 232,189,455.
Total
23 23
4. Operating income and cost
In RMB
Current Period Last Period
Item
Income Cost Income Cost
Main operating 29,583,210.44 28,656,951.15 88,187,164.39 62,457,990.11
Other operating 2,662,222.12 830,328.42 2,331,328.73 797,783.51
Total 32,245,432.56 29,487,279.57 90,518,493.12 63,255,773.62
Information relating to revenue:
In RMB
Category Branch 1 Branch 2 Total
Product Types 29,334,333.20 2,911,099.36 32,245,432.56
Including:
Main business income 29,334,333.20 248,877.24 29,583,210.44
Other operating
2,662,222.12 2,662,222.12
income
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Including:
Including:
Including:
Including:
Including:
Including:
Total 29,334,333.20 2,911,099.36 32,245,432.56
Information relating to performance obligations:
The company handled the payment, transfer of goods and other business activities related to the performance obligations in
accordance with the contract, and the performance obligations related to the current operating income have been completed.
Information related to the transaction price allocated to the remaining performance obligations:
At the end of the reporting period, the amount of revenue corresponding to the performance obligations that have been signed but not
yet performed or not yet completed is 0.00 yuan, of which, yuan is expected to be recognized as revenue in , yuan is expected to
be recognized as revenue in , and yuan is expected to be recognized as revenue in .
Other explanation:
5. Investment income
In RMB
Item Current Period Last Period
Investment income of trading financial assets
54,131.01
during the holding period
Total 54,131.01
XVIII. Supplementary Information
1. Current non-recurring gains/losses
√Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of
55,893.20
non-current asset
Governmental subsidy reckoned into
current gains/losses (not including the
subsidy enjoyed in quota or ration 799,607.83
according to national standards, which are
closely relevant to enterprise’s business)
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Other non-operating income and
expenditure except for the aforementioned 9,428,569.55
items
Total 10,284,070.58 --
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
Item Amount involved (yuan) Reason
The subsidy enjoyed in quota or ration
Subsidy for exploitation and utilization of according to national standards, which
18,234,412.56
international fishery resources are closely relevant to enterprise’s
business
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 attributable to common
1.80% 0.06 0.06
stock stockholders of the Company
Net profits attributable to common
stock stockholders of the Company
0.66% 0.02 0.02
after deducting nonrecurring gains
and losses
3. Difference of the accounting data under accounting rules in and out of China
(1) Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□Applicable √Not applicable
(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□Applicable √Not applicable
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山东省中鲁远洋渔业股份有限公司 2020 年半年度报告全文
Section XII. Documents available for reference
I. The financial statement of the Company with signature and seal from the person in charge of the Company, person in charge of the
accounting works and person in charge of accounting;
II. Original text of all documents of the Company as well as manuscript of the announcement that disclosed on website appointed by
CSRC.
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
Chairman: Lu Lianxing
26 August 2020
149
