上海锦江国际实业投资股份有限公司

    600650 900914

    2009 年半年度报告上海锦江国际实业投资股份有限公司 2009 年半年度报告

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    目录

    一、重要提示.......................................................................... 2

    二、公司基本情况...................................................................... 2

    三、股本变动及股东情况................................................................ 3

    四、董事、监事和高级管理人员情况...................................................... 5

    五、董事会报告........................................................................ 5

    六、重要事项.......................................................................... 6

    七、财务报告（未经审计，附后） ........................................................ 9

    八、备查文件目录...................................................................... 9上海锦江国际实业投资股份有限公司 2009 年半年度报告

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    一、重要提示

    (一) 本公司董事会、监事会及其董事、监事、高级管理人员保证本报告所载资料不存在任何虚假记载、

    误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。

    (二) 公司全体董事出席董事会会议。

    (三) 公司半年度财务报告未经审计。

    (四) 本公司不存在被控股股东及其关联方非经常性占用资金情况。

    (五) 本公司不存在违反规定决策程序对外提供担保的情况。

    (六) 公司负责人董事长沈懋兴、首席执行官杨原平、主管会计工作负责人财务总监袁哲宁及会计机构

    负责人（会计主管人员）刘朝晖声明：保证本半年度报告中财务报告的真实、完整。

    二、公司基本情况

    (一) 公司基本情况简介

    1、 公司法定中文名称：上海锦江国际实业投资股份有限公司

    公司法定中文名称缩写：锦江投资

    公司英文名称：Shanghai Jin Jiang International Industrial Investment Co., Ltd.

    公司英文名称缩写：JJTZ

    2、 公司A 股上市交易所：上海证券交易所

    公司A 股简称：锦江投资

    公司A 股代码：600650

    公司B 股上市交易所：上海证券交易所

    公司B 股简称：锦投B 股

    公司B 股代码：900914

    3、 公司注册地址：上海市浦东大道1 号

    公司办公地址：上海市延安东路100 号28 楼

    邮政编码：200002

    公司国际互联网网址：http://www.jjtz.com

    公司电子信箱：dshms@jjtz.com

    4、 法定代表人：沈懋兴

    5、 公司董事会秘书： 袁哲宁

    电话： （021）63218800

    传真： （021）63213119

    E-mail：dshms@jjtz.com

    联系地址： 上海市延安东路100 号28 楼

    公司证券事务代表：黄跃冲

    电话：（021）63218800

    传真：（021）63213119

    E-mail：zqdb@jjtz.com

    联系地址：上海市延安东路100 号28 楼

    6、 公司信息披露报纸名称：《上海证券报》、香港《大公报》

    登载公司半年度报告的中国证监会指定国际互联网网址：http://www.sse.com.cn

    公司半年度报告备置地点：上海市延安东路100 号28 楼上海锦江国际实业投资股份有限公司 2009 年半年度报告

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    (二) 主要财务数据和指标

    1、主要会计数据和财务指标

    单位:元 币种:人民币

    本报告期末 上年度期末

    本报告期末比上年

    度期末增减（％）

    总资产 2,693,242,672.03 2,662,829,897.87 1.14

    所有者权益（或股东权益） 1,817,243,441.80 1,793,642,647.73 1.32

    每股净资产(元) 3.294 3.252 1.29

    报告期（1－6 月） 上年同期

    本报告期比上年同

    期增减（％）

    营业利润 165,645,444.94 213,661,968.64 -22.47

    利润总额 178,128,219.33 229,815,231.13 -22.49

    净利润 140,341,179.71 175,285,402.83 -19.94

    扣除非经常性损益后的净利润 114,860,631.23 157,143,047.26 -26.91

    基本每股收益(元) 0.254 0.318 -20.13

    扣除非经常性损益后的基本每股收

    益(元)

    0.208 0.285 -27.02

    稀释每股收益(元) 0.254 0.318 -20.13

    净资产收益率(%) 7.72 10.46 减少2.74 个百分点

    经营活动产生的现金流量净额 214,304,429.00 266,128,666.14 -19.47

    每股经营活动产生的现金流量净额（元） 0.389 0.482 -19.29

    2、非经常性损益项目和金额：

    单位:元 币种:人民币

    非经常性损益项目 金额

    非流动资产处置损益 11,402,652.58

    计入当期损益的政府补助，但与公司正常经营业务密切相关，符合国家政策规定、

    按照一定标准定额或定量持续享受的政府补助除外

    3,416,860.50

    处置交易性金融资产、交易性金融负债和可供出售金融资产取得的投资收益 17,630,900.37

    扣除资产减值准备后的其他各项营业外收入、支出 -36,540.86

    所得税影响额 -6,490,540.26

    少数股东权益影响数 -442,783.85

    合计 25,480,548.48

    三、股本变动及股东情况

    (一) 股份变动情况表

    2009 年2 月13 日,公司第三次有限售条件的流通股上市流通，数量为27,580,505 股。股本结构

    变动如下：

    单位：股

    本次变动前 本次变动增减（＋，－） 本次变动后

    数量

    比例

    (%)

    发

    行

    新

    股

    送

    股

    公

    积

    金

    转

    股

    其他 小计 数量

    比例

    (%)

    一、有限售条件股份

    国有法人持股 185,005,955 33.54 -27,580,505 -27,580,505 157,425,450 28.54

    有限售条件股份合计 185,005,955 33.54 -27,580,505 -27,580,505 157,425,450 28.54

    二、无限售条件流通股份

    1、人民币普通股 205,554,120 37.26 +27,580,505 +27,580,505 233,134,625 42.26

    2、境内上市的外资股 161,050,032 29.20 161,050,032 29.20上海锦江国际实业投资股份有限公司 2009 年半年度报告

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    无限售条件流通股份合计 366,604,152 66.46 +27,580,505 +27,580,505 394,184,657 71.46

    三、股份总数 551,610,107 100 551,610,107 100

    (二) 股东和实际控制人情况

    1、股东数量和持股情况

    单位：股

    报告期末股东总数 70,992（B：30,332）户

    前十名股东持股情况

    股东名称 股东性质

    持股

    比例

    (%)

    持股总数

    报告期内

    增减

    持有有限售

    条件股份数

    量

    质押或

    冻结的

    股份数

    量

    锦江国际(集团)有限公司 国有法人 38.54 212,586,460 157,425,450 无

    中国建设银行－工银瑞信精选

    平衡混合型证券投资基金

    其他 1.29 7,140,672 6,090,722 未知

    上海国际信托有限公司 国有法人 0.73 4,017,848 -454,544 未知

    蔡青蜂 境外自然人0.71 3,894,935 未知

    上海锦江饭店有限公司 国有法人 0.68 3,761,493 未知

    VALUE PARTNERS CLASSIC FUND 境外法人 0.68 3,746,216 3,746,216 未知

    胡家英 境内自然人0.65 3,571,786 168,000 未知

    中国建设银行－海富通风格优

    势股票型证券投资基金

    其他 0.54 3,000,000 3,000,000 未知

    上海和平饭店有限公司 国有法人 0.33 1,839,974 未知

    HTHK-VALUE PARTNERS

    INTELLIGENT FUNDS-CHINA B

    SHARE FUND

    境外法人 0.33 1,801,863 -811,505 未知

    前十名无限售条件股东持股情况

    股东名称

    持有无限售条

    件股份的数量

    股份种类

    锦江国际(集团)有限公司 55,161,010 人民币普通股

    中国建设银行－工银瑞信精选平衡混合型证券投资基金 7,140,672 人民币普通股

    上海国际信托有限公司 4,017,848 人民币普通股

    蔡青蜂 3,894,935 境内上市外资股

    上海锦江饭店有限公司 3,761,493 人民币普通股

    VALUE PARTNERS CLASSIC FUND 3,746,216 境内上市外资股

    胡家英 3,571,786 境内上市外资股

    中国建设银行－海富通风格优势股票型证券投资基金 3,000,000 人民币普通股

    上海和平饭店有限公司 1,839,974 人民币普通股

    HTHK-VALUE PARTNERS INTELLIGENT FUNDS-CHINA B SHARE FUND 1,801,863 境内上市外资股

    上述股东关联关系

    或一致行动的说明

    公司前十名股东中，第1 位股东和第5、9 位股东存在关联关系和一致行动关系。公

    司控股股东锦江国际（集团）有限公司是上海锦江饭店有限公司、上海和平饭店有限

    公司的控股股东。其他股东，公司未知其是否存在关联关系和一致行动关系。

    前十名有限售条件股东持股数量及限售条件

    单位:股

    有限售有限售条件股份可上市交易情况

    条件股

    东名称

    持有的有限

    售条件股份

    数量

    可上市交易时

    间

    新增可上市交

    易股份数量

    限售条件

    锦江国

    际（集

    157,425,450 2010 年2 月13 日157,425,450

    1、自获得在A 股市场上的"上市流通权"之日

    起12 个月内不上市交易或转让，并在其后的上海锦江国际实业投资股份有限公司 2009 年半年度报告

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    团）有

    限公司

    12 个月内不通过上海证券交易所挂牌交易。

    2、在第一项规定期满后，通过上海证券交易

    所挂牌交易出售的股份数量占公司股份总数

    的比例在12 个月内不超过5%。

    3、在第一项规定期满后，通过上海证券交易

    所挂牌交易出售的股份数量占公司股份总数

    的比例在24 个月内不超过10%。

    2、控股股东及实际控制人变更情况

    本报告期内公司控股股东及实际控制人没有发生变更。

    四、董事、监事和高级管理人员情况

    (一) 董事、监事和高级管理人员持股变动

    报告期内公司董事、监事、高级管理人员持股未发生变化。

    (二) 新聘或解聘公司董事、监事、高级管理人员的情况

    2009 年5 月22 日，公司2008 年度股东大会选举沈懋兴、杨原平、于建敏、陈文君、马名驹、张

    宝华、蔡青峰、胡茂元（独立董事）、刘永章（独立董事）、陆红贵（独立董事）、林莉华（独立董

    事）为公司第六届董事会董事。

    2009 年5 月22 日，公司2008 年度股东大会选举刘海海、潘建畅为公司第六届监事会监事。同月，

    经公司职工民主程序产生第六届监事会职工代表监事蔡涌均。

    2009 年5 月22 日，公司第六届董事会第一次会议选举沈懋兴为公司第六届董事会董事长，杨原

    平、于建敏为副董事长。聘任杨原平为公司首席执行官（兼）,于建敏为公司首席运营官（执行总裁）

    （兼）；聘任邵晓明、孟正伟、王荣发、袁辽骏为公司副总裁，袁哲宁为公司董事会秘书、财务总监

    （兼）。

    2009 年5 月22 日，公司第六届监事会第一次会议选举刘海海为公司第六届监事会监事长。

    五、董事会报告

    (一) 报告期内整体经营情况的讨论与分析

    报告期内，由于国际金融危机的持续影响，公司客运服务、现代物流、物流仓储三大核心业务不

    同程度受到冲击，经营业绩同比有所下降。公司坚持科学发展和实事求是的态度，坚定信心，紧紧围

    绕公司战略目标，积极应对金融危机所形成的严峻市场环境，强化内部管理，推进各项对策措施的有

    效实施。紧紧把握迎世博的发展机遇，努力使金融危机对公司业务的影响降到最低限度，保持公司的

    核心竞争力和可持续发展能力，完成公司半年度经营计划。公司经营已呈上升的态势。

    报告期内，公司实现营业收入77,918 万元，比去年同期减少4,238 万元，下降5.16%；营业利润

    16,565 万元，比去年同期减少4,801 万元，下降22.47%；完成净利润14,034 万元，比去年同期减少

    3,495 万元，下降19.94%。

    (二) 公司主营业务及其经营状况

    1、主营业务分行业、产品情况表

    单位:元 币种:人民币

    分行业 营业收入 营业成本

    毛利

    率(%)

    营业收入比

    上年增减(%)

    营业成本比

    上年增减(%)

    毛利率比上

    年增减(%)

    车辆营运

    业务

    492,390,681.17 322,697,657.08 34.46 0.30 -1.89

    增加1.46

    个百分点

    汽车销售

    业务

    224,527,231.20 210,781,682.69 6.12 -6.83 -6.78

    减少0.06

    个百分点

    低温物流

    业务

    37,960,565.09 19,866,523.34 47.67 -41.81 -52.91

    增加12.33

    个百分点

    其中：报告期内上市公司向控股股东及其子公司销售产品和提供劳务的关联交易总金额522 万元。上海锦江国际实业投资股份有限公司 2009 年半年度报告

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    注：低温物流业务毛利率增加12.33 个百分点，系本期转让毛利率较低的上海日冷食品有限公司股权

    所致。

    2、主营业务分地区情况

    单位:元 币种:人民币

    地区 营业收入 营业收入比上年增减（％）

    上海 779,183,454.87 -5.16

    3、参股公司经营情况（适用投资收益占净利润10％以上的情况）

    单位:元 币种:人民币

    公司名称

    经营

    范围

    净利润

    参股公司贡献的

    投资收益

    占上市公司净利

    润的比重(%)

    上海浦东国际机场货运站有限公司 仓储109,304,678.32 14,209,608.18 10.13

    4、公司在经营中出现的问题与困难

    由于全球金融危机对实体经济的影响，公司三大核心业务也不同程度的面临各种困难。其中贴近

    内需的相关业务受影响相对较小，而外向型的国际货运、机场仓储业务受到较大的冲击。

    公司将进一步强化内部控制与管理，发挥品牌优势，抓住经济逐步回暖和上海世博会的契机，不

    断开拓国内外市场，努力实现经营业绩的提升。

    (三) 公司投资情况

    1、募集资金使用情况

    报告期内，公司无募集资金或前期募集资金使用到本期的情况。

    2、非募集资金项目情况

    报告期内，公司无非募集资金投资项目。

    六、重要事项

    (一) 公司治理的情况

    报告期内，公司严格按照《公司法》、《证券法》、中国证监会制定的法规和上市公司治理规范

    性文件，以及上海证券交易所《股票上市规则》的要求，结合自身实际情况，不断完善法人治理结构，

    规范公司运作。公司以及控股子公司股东大会、董事会、监事会与经理层之间权责分明、各司其职、

    运作规范；公司切实加强投资者关系管理，严格信息披露工作，确保信息披露真实、准确、完整、及

    时。

    报告期内，公司顺利完成董事会、监事会的换届选举工作，新一届董事会、监事会组成符合相关

    法律法规的规定。同时，董事会组成新一届战略、审计、薪酬与考核等3 个专门委员会。

    报告期内，公司按照证券监管部门新出台的法规和规范性文件要求，又进一步修订了《公司章程》、

    《董事会审计委员会年报工作规程》、《独立董事年报工作制度》，使公司治理制度得到进一步完善。

    (二) 报告期实施的利润分配方案执行情况

    经2009 年5 月22 日公司2008 年度股东大会批准，公司2008 年度利润分配方案为：以2008 年末

    公司总股本55,161.01 万股为基数，向全体股东每10 股派发现金红利3.00 元(含税)。

    2009 年6 月9 日，公司在《上海证券报》、香港《大公报》上刊登利润分配实施公告。股权登记

    日：A 股 2009 年6 月12 日；B 股最后交易日2009 年6 月12 日，股权登记日6 月17 日。除息日：2009

    年6 月15 日。红利发放日：2009 年6 月26 日。全体股东红利已按时发放完毕。

    (三) 报告期内现金分红政策的执行情况

    根据《公司章程》规定，公司利润分配政策为：公司的利润分配应重视对投资者的合理投资回报，

    利润分配政策应保持连续性和稳定性。公司可以进行中期现金分红。公司最近三年以现金方式累计分

    配的利润少于最近三年实现的年均可分配利润的百分之三十的，不得向社会公众增发新股、发行可转

    换公司债券或向原股东配售股份。

    报告期内公司实施了现金分红，具体情况详见本章（二）。上海锦江国际实业投资股份有限公司 2009 年半年度报告

    7

    (四) 重大诉讼仲裁事项

    本报告期公司无重大诉讼、仲裁事项。

    (五) 公司持有其他上市公司股权、参股金融企业股权情况

    1、持有其他上市公司股权情况

    单位：元

    证券

    代码

    证券简称 初始投资金额

    占该公

    司股权

    比例

    （％）

    期末账面值 报告期损益

    报告期所有者

    权益变动

    601328 交通银行 8,106,520.00 <5 80,575,078.50 894,285.00 28,639,477.13

    600655 豫园商城 1,994,384.78 <1 20,019,000.96 52,080.00 7,178,532.00

    600643 爱建股份 2,757,499.60 <1 18,956,083.01 13,813,773.90 2,799,491.97

    601727 上海电气 497,340.08 <1 12,441,480.00 3,618.30 3,944,979.40

    600631 百联股份 1,666,309.70 <1 11,754,000.00 3,084,750.00

    600082 海泰发展 864,540.00 <1 3,639,094.46 1,901,306.12

    600616 金枫酒业 781,657.43 <1 2,390,004.75 682,710.05

    600642 申能股份 280,000.00 <1 1,479,000.00 15,000.00 435,375.00

    600665 天地源 159,264.00 <1 421,344.00 170,856.00

    600618 氯碱化工 44,044.00 <1 101,301.20 36,082.20

    合计 17,151,559.59 / 151,776,386.88 14,778,757.20 48,873,559.87

    注:1、以上股权会计核算科目均为:可供出售金融资产；

    2、以上股份来源均为:法人股认购。

    2、持有非上市金融企业股权情况

    所持对象

    名称

    初始投资金

    额（元）

    持有数量

    （股）

    占该

    公司

    股权

    比例

    （%）

    期末账面值

    （元）

    报告期损益

    （元）

    报告期

    所有者

    权益变

    动（元）

    会计

    核算

    科目

    股

    份

    来

    源

    国泰君安

    证券股份

    有限公司

    47,649,967 47,649,967 1.014 47,649,967 14,294,990.10 0

    长期

    股权

    投资

    认

    购

    合计 47,649,967 47,649,967 / 47,649,967 14,294,990.10 0 / /

    2007 年4 月6 日，公司董事会通过《关于增资国泰君安证券股份有限公司的议案》，决定增资认

    购国泰君安股份有限公司1,413 万股。公司已支付认购款项，待国泰君安证券股份有限公司增资扩股

    方案取得中国证监会等批准后，予以确权。确权后，公司将合计持有国泰君安证券股份有限公司6,178

    万股股权。

    (六) 报告期内公司收购及出售资产、吸收合并事项

    本报告期公司无重大收购及出售资产、吸收合并事项。

    (七) 报告期内公司重大关联交易事项

    本报告期公司无重大关联交易事项。

    (八) 重大合同及其履行情况

    1、托管、承包、租赁事项

    (1) 托管情况

    本报告期公司无重大托管事项。上海锦江国际实业投资股份有限公司 2009 年半年度报告

    8

    (2) 承包情况

    本报告期公司无重大承包事项。

    (3) 租赁情况

    本报告期公司无重大租赁事项。

    2、担保情况

    单位:万元 币种:人民币

    公司对外担保情况（不包括对子公司的担保）

    担保方

    担保方

    与上市

    公司的

    关系

    被担保方

    担保

    金额

    担保起

    始日

    担保到

    期日

    担保

    类型

    担保

    是否

    已经

    履行

    完毕

    担保

    是否

    逾期

    是否

    存在

    反担

    保

    是否

    为关

    联方

    上海锦江

    汽车服务

    有限公司

    公司的

    控股子

    公司

    上海永达风

    度汽车销售

    有限公司

    1,600

    2009 年

    3 月29

    日

    2010

    年3 月

    28 日

    一般

    担保

    否 否 是 否

    上海锦江

    商旅汽车

    服务股份

    有限公司

    公司控

    股子公

    司的下

    属公司

    上海南站长

    途客运有限

    公司

    1,250

    2008 年

    12 月20

    日

    2009

    年12

    月19

    日

    一般

    担保

    否 否 是 否

    报告期内担保发生额合计 1,520

    报告期末担保余额合计（A） 2,114

    公司对控股子公司的担保情况

    报告期内对控股子公司担保发生额合计 0

    报告期末对控股子公司担保余额合计（B） 0

    公司担保总额情况（包括对控股子公司的担保）

    担保总额（A+B） 2,114

    担保总额占公司净资产的比例(%) 1.16

    其中：

    为股东、实际控制人及其关联方提供担保的金额（C） 0

    直接或间接为资产负债率超过70％的被担保对象提供的债务担保金额（D） 0

    担保总额超过净资产50％部分的金额（E） 0

    上述三项担保金额合计（C+D+E） 0

    3、委托理财情况

    本报告期公司无重大委托理财事项。

    4、其他重大合同

    本报告期公司无其他重大合同。

    (九) 承诺事项履行情况

    1、公司、持股5%以上股东及其实际控制人在报告期内或持续到报告期内的承诺及其履行情况

    锦江国际（集团）有限公司承诺：

    承诺事项 承诺内容 履行情况

    股改承诺

    1、持有的非流通股股份自获得在A 股市场上的“上市流通权”之日起12 个

    月后的12 个月内，不通过上海证券交易所挂牌交易。

    2、在前项承诺期期满后，通过上海证券交易所挂牌交易出售的股份数量占

    公司股份总数的比例在12 个月内不超过5%，在24 个月内不超过10%；通过

    上海证券交易所挂牌交易出售获得流通权的股份数量达到公司股份总数1%

    1、限售期承

    诺在履行中。

    2、利润分配

    承诺已在公

    司2005、上海锦江国际实业投资股份有限公司 2009 年半年度报告

    9

    的，将自该事实发生之日起两个工作日内做出公告。

    3、在股权分置改革方案实施之后，将在上海锦江国际实业投资股份有限公

    司2005 年度至2007 年度连续三年的年度股东大会上提议利润分配比例不

    低于当年实现可分配利润的50%，并保证在年度股东大会表决时对该议案投

    赞成票。

    2006、2007

    年度利润分

    配中履行完

    毕。

    (1) 截至半年报披露日，是否存在尚未完全履行的业绩承诺：否

    (2) 截至半年报披露日，是否存在尚未完全履行的注入资产、资产整合承诺：否

    (十) 聘任、解聘会计师事务所情况

    单位:元 币种:人民币

    是否改聘会计师事务所： 否

    (十一) 上市公司及其董事、监事、高级管理人员、公司股东、实际控制人处罚及整改情况

    本报告期公司及其董事、监事、高级管理人员、公司股东、实际控制人均未受中国证监会的稽查、

    行政处罚、通报批评及证券交易所的公开谴责。

    (十二) 其他重大事项及其影响和解决方案的分析说明

    本报告期公司无其他重大事项。

    (十三) 信息披露索引

    事项 刊载的报刊名称及版面 刊载日期

    2008 年度业绩快报 《上海证券报》C13、香港《南华早报》B6 2009 年1 月20 日

    有限售条件的流通股上市流通的公告 《上海证券报》B4 2009 年2 月6 日

    第五届董事会第十九次会议决议公告 《上海证券报》C53、香港《大公报》C4 2009 年4 月23 日

    第五届监事会第十三次会议决议公告 《上海证券报》C53、香港《大公报》C4 2009 年4 月23 日

    2009 年度预计日常关联交易公告 《上海证券报》C53、香港《大公报》C4 2009 年4 月23 日

    2008 年度报告 《上海证券报》C53、香港《大公报》C4 2009 年4 月23 日

    第五届董事会第二十次会议决议公告

    暨召开2008 年度股东大会的通知

    《上海证券报》C84、香港《大公报》B8 2009 年4 月30 日

    2009 年第一季度报告 《上海证券报》C84、香港《大公报》B8 2009 年4 月30 日

    2008 年度股东大会决议公告 《上海证券报》13、香港《大公报》A7 2009 年5 月23 日

    第六届董事会第一次会议决议公告 《上海证券报》13、香港《大公报》A7 2009 年5 月23 日

    第六届监事会第一次会议决议公告 《上海证券报》13、香港《大公报》A7 2009 年5 月23 日

    2008 年度利润分配实施公告 《上海证券报》C5、香港《大公报》A29 2009 年6 月9 日

    注：上述刊载的互联网网站及检索路径均为：上海证券交易所网站http://www.sse.com.c

    七、财务报告（未经审计，附后）

    八、备查文件目录

    1、载有法定代表人签名的半年度报告文本；

    2、载有公司负责人、主管会计工作的负责人、会计机构负责人签名并盖章的财务报告文本；

    3、报告期内在中国证监会指定报刊上公开披露过的所有文件的正本及公告的原稿。

    董事长：沈懋兴

    上海锦江国际实业投资股份有限公司

    2009 年8 月10 日上海锦江国际实业投资股份有限公司

    2009 年上半年度财务报告

    (未经审计)

    2009 年8 月10 日上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    - 2 -

    公司及合并资产负债表

    2009 年6 月30 日

    单位：人民币元

    附注 合并 公司

    2009 年6 月30 日 年初数 2009 年6 月30 日 年初数

    资产

    流动资产

    货币资金 1 664,838,920.69 609,605,573.31 326,394,657.96 260,262,892.62

    应收账款 2 47,311,639.84 41,955,060.11 418,545.21 157,907.20

    预付款项 3 56,125,410.54 53,929,049.13 25,200.00 24,300.00

    应收股利 4 16,204,488.25 10,722,095.18 10,375,059.47 -

    其他应收款 5 23,482,750.99 25,819,294.55 40,572,184.93 44,131,974.01

    存货 6 33,108,593.89 48,344,222.64 63,519.49 100,216.69

    一年内到期的非流动资产 15 4,230,666.67 4,230,666.67 - -

    其他流动资产 7 ___________-_ __ ____5_,0_6_7_,_4_9_6_.1_6_ ___________-_ __ ___________-_ __

    流动资产合计 __8_4_5_,3_0_2_,_4_7_0_.8_7_ __7_9_9_,6_7_3_,_4_5_7_.7_5_ __3_7_7_,_8_4_9_,1_6_7_._0_6 __3_0_4_,6_7_7_,_2_9_0_.5_2_

    非流动资产

    可供出售金融资产 8 151,776,386.88 90,086,010.03 126,906,113.51 77,283,466.46

    长期股权投资 10 696,931,863.24 763,871,741.93 1,025,961,345.49 1,025,306,505.71

    投资性房地产 9 35,479,956.20 35,865,835.82 21,275,368.75 21,496,546.99

    固定资产 11 792,296,773.60 805,580,785.14 47,783,964.04 49,269,079.07

    在建工程 12 6,638,573.06 2,362,500.00 - -

    无形资产 13 135,000,036.29 135,539,826.35 940,054.00 958,426.00

    长期待摊费用 97,168.04 103,645.94 - -

    递延所得税资产 14 1,764,454.52 1,791,105.58 1,764,454.52 1,791,105.58

    其他非流动资产 1 5 ___2_7_,9_5_4_,_9_8_9_.3_3_ ___2_7_,9_5_4_,_9_8_9_.3_3_ ___1_5_,_2_6_2_,9_8_8_._7_6 ___1_5_,2_6_2_,_9_8_8_.7_6_

    非 流动资产合计 1_,_8_4_7_,9_4_0_,_2_0_1_.1_6_ 1_,_8_6_3_,1_5_6_,_4_4_0_.1_2_ _1_,2_3_9_,_8_9_4_,2_8_9_._0_7 1_,_1_9_1_,3_6_8_,_1_1_8_.5_7_

    资 产总计 2__,__6__9__3__,2__4__2__,__6__7__2__.0__3__ 2__,__6__6__2__,8__2__9__,__8__9__7__.8__7__ __1__,6__1__7__,__7__4__3__,4__5__6__.__1__3 1__,__4__9__6__,0__4__5__,__4__0__9__.0__9__

    (续)上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    - 3 -

    公司及合并资产负债表(续)

    2009 年6 月30 日

    单位：人民币元

    附注 合并 公司

    2009 年6 月30 日 年初数 2009 年6 月30 日 年初数

    负债及股东权益

    流动负债

    短期借款 17 - 25,000,000.00 - -

    应付账款 18 50,177,984.63 54,078,435.62 356,103.43 560,675.38

    预收款项 19 84,437,311.75 91,273,167.43 346,129.70 321,521.62

    应付职工薪酬 20 106,761,182.80 82,467,362.98 2,940,661.32 4,671,881.60

    应交税费 21 33,227,221.42 23,351,970.77 3,196,862.51 3,023,506.27

    应付股利 22 68,579,489.79 35,050,849.29 21,013,630.45 21,338,065.35

    其他应付款 23 265,873,141.64 269,172,827.55 ______________ _______________ ____4_,_3_7_1_,4_3_1_._4_5 _____3_,1_4_1_,_0_4_4_.4_5_

    流 动负债合计 __6_0_9_,_0_5_6_,3_3_2_._0_3 ___5_8_0_,3_9_4_,_6_1_3_.6_4_ ___3_2_,_2_2_4_,8_1_8_._8_6 ____3_3_,0_5_6_,_6_9_4_.6_7_

    非流动负债

    递延所得税负债 24 33,656,206.81 17,339,447.82 28,171,724.85 14,871,963.30

    其他非流动负债 2 5 ___5_5_,_7_3_1_,8_7_1_._6_4 ____5_6_,2_7_1_,_9_4_5_.8_4_ ___________-_ __ ____________-_ __

    非 流动负债合计 ___8_9_,_3_8_8_,0_7_8_._4_5 ____7_3_,6_1_1_,_3_9_3_.6_6_ ___2_8_,_1_7_1_,7_2_4_._8_5 ____1_4_,8_7_1_,_9_6_3_.3_0_

    负 债合计 __6_9_8_,_4_4_4_,4_1_0_._4_8 ___6_5_4_,0_0_6_,_0_0_7_.3_0_ ___6_0_,_3_9_6_,5_4_3_._7_1 ____4_7_,9_2_8_,_6_5_7_.9_7_

    股东权益

    股本 26 551,610,107.00 551,610,107.00 551,610,107.00 551,610,107.00

    资本公积 27 485,794,324.70 437,051,678.24 464,580,837.48 424,681,552.81

    盈余公积 28 207,076,075.63 183,594,684.76 207,076,075.63 183,594,684.76

    未分配利润 2 9 __5_7_2_,_7_6_2_,9_3_4_._4_7 ___6_2_1_,3_8_6_,_1_7_7_.7_3_ __3_3_4_,_0_7_9_,8_9_2_._3_1 ___2_8_8_,2_3_0_,_4_0_6_.5_5_

    归属于母公司股东权益合计 1,817,243,441.80 1,793,642,647.73 1,557,346,912.42 1,448,116,751.12

    少数股东权益 3 0 __1_7_7_,_5_5_4_,8_1_9_._7_5 ___2_1_5_,1_8_1_,_2_4_2_.8_4_ ___________-_ __ ____________-_ __

    股 东权益合计 _1_,9_9_4_,_7_9_8_,2_6_1_._5_5 _2_,_0_0_8_,8_2_3_,_8_9_0_.5_7_ _1_,5_5_7_,_3_4_6_,9_1_2_._4_2 _1_,_4_4_8_,1_1_6_,_7_5_1_.1_2_

    负 债和股东权益总计 __2__,6__9__3__,__2__4__2__,6__7__2__.__0__3 __2__,__6__6__2__,8__2__9__,__8__9__7__.8__7__ __1__,6__1__7__,__7__4__3__,4__5__6__.__1__3 __1__,__4__9__6__,0__4__5__,__4__0__9__.0__9__

    附注为财务报表的组成部分。

    第2 页至第50 页的财务报表由下列负责人签署：

    企业负责人：杨原平 主管会计工作的负责人：袁哲宁 会计机构负责人：刘朝晖上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    - 4 -

    公司及合并利润表

    2009 年1 月1 日至6 月30 日止期间

    单位：人民币元

    项目 附注 合并 公司

    本期累计数 上年同期累计数 本期累计数 上年同期累计数

    营业收入 31 779,183,454.87 821,557,202.60 9,817,732.30 11,051,626.82

    减：营业成本 32 557,653,433.66 601,541,761.82 1,735,461.68 1,981,421.66

    营业税金及附加 33 19,806,836.51 19,979,488.93 493,662.36 554,628.36

    销售费用 66,084,545.37 66,325,646.29 4,367,911.46 4,290,249.66

    管理费用 54,309,174.16 46,827,133.35 7,161,201.00 7,611,272.39

    财务费用 34 (1,278,098.18) (2,745,535.10) (1,383,248.12) (2,094,419.44)

    资产减值损失 - - - -

    加：投资收益 35 83,037,881.59 124,033,261.33 240,706,809.87 288,469,533.43

    其中：对联营企业和合营企业

    的投资收益 3 5 ____4_6_,_3_4_7_,6_7_8_._8_7 ____8_7_,2_5_3_,_9_2_0_.1_9_ ____1_1_,_0_2_9_,8_9_9_._2_5 ____1_5_,3_8_2_,_9_3_9_.1_8_

    营业利润 165,645,444.94 213,661,968.64 238,149,553.79 287,178,007.62

    加：营业外收入 36 12,629,718.03 16,362,172.35 3,611.30 3,930.50

    减：营业外支出 37 146,943.64 208,909.86 - 52,922.00

    其中：非流动资产处置损失 3 7 _______1_0_6_,7_1_1_._4_8 ______1_8_5_,_9_8_7_.8_6_ ____________-_ __ ____________-_ __

    利润总额 178,128,219.33 229,815,231.13 238,153,165.09 287,129,016.12

    减 ：所得税费用 3 8 ____2_2_,_5_8_2_,6_6_4_._0_0 ____2_2_,4_2_9_,_0_2_1_.7_2_ _____3_,_3_3_9_,2_5_6_._3_6 _____2_,3_1_8_,_0_6_4_.2_6_

    净 利润 ______1__5__5__,__5__4__5__,5__5__5__.__3__3 ______2__0__7__,3__8__6__,__2__0__9__.4__1__ ______2__3__4__,__8__1__3__,9__0__8__.__7__3 ______2__8__4__,8__1__0__,__9__5__1__.8__6__

    归属于母公司股东的净利润 40 140,341,179.71 175,285,402.83 234,813,908.73 284,810,951.86

    少数股东损益 15,204,375.62 32,100,806.58 - -

    每股收益：

    (一)基本每股收益 40 0.254 0.318

    (二)稀释每股收益 40 不适用 不适用

    附注为财务报表的组成部分。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    - 5 -

    公司及合并现金流量表

    2009 年1 月1 日至6 月30 日止期间

    单位：人民币元

    合并 公司

    附注 本期累计数 上年同期累计数 本期累计数 上年同期累计数

    经营活动产生的现金流量

    销售商品、提供劳务收到的现金 766,519,703.21 820,977,598.22 9,557,094.29 10,809,377.29

    收到 其他与经营活动有关的现金 ____8_7_,6_7_5_,_8_5_4_.2_1_ ___8_9_,9_6_4_,_7_5_3_.6_3_ ____1_,3_0_1_,_3_0_6_.4_6_ ____5_,2_1_3_,_4_0_1_.8_4_

    经营 活动现金流入小计 ___8_5_4_,1_9_5_,_5_5_7_.4_2_ __9_1_0_,9_4_2_,_3_5_1_.8_5_ ___1_0_,8_5_8_,_4_0_0_.7_5_ ___1_6_,0_2_2_,_7_7_9_.1_3_

    购买商品、接受劳务支付的现金 413,291,285.15 436,399,535.31 3,085,065.63 2,469,617.30

    支付给职工以及为职工支付的现金 155,713,840.79 146,091,485.06 6,592,854.85 8,858,515.82

    支付的各项税费 45,456,846.58 43,374,628.72 3,921,616.55 2,314,740.97

    支付 其他与经营活动有关的现金 ____2_5_,4_2_9_,_1_5_5_.9_0_ ___1_8_,9_4_8_,_0_3_6_.6_2_ ____1_,2_3_5_,_8_4_0_.5_2_ _____5_8_2_,_0_3_5_.8_4_

    经营 活动现金流出小计 ___6_3_9_,8_9_1_,_1_2_8_.4_2_ __6_4_4_,8_1_3_,_6_8_5_.7_1_ ___1_4_,8_3_5_,_3_7_7_.5_5_ ___1_4_,2_2_4_,_9_0_9_.9_3_

    经营活 动产生的现金流量净额 ___2_1_4_,3_0_4_,_4_2_9_.0_0_ __2_6_6_,1_2_8_,_6_6_6_.1_4_ ___(_3_,9_7_6_,_9_7_6_.8_0_) ____1_,7_9_7_,_8_6_9_.2_0_

    投资活动产生的现金流量

    收回投资收到的现金 21,207,819.31 9,257,559.05 21,202,538.64 9,257,559.05

    取得投资收益收到的现金 123,166,318.18 179,043,527.01 212,050,771.16 183,293,832.45

    处置固定资产、无形资产和

    其他长期资产收回的现金净额 15,270,665.78 19,128,458.20 - -

    处置子公司及其他营业单位收到的

    现金净额 43 1,394,304.63 - - -

    收到 其他与投资活动有关的现金 ____________-_ __ ___1_6_,0_0_0__,0_0_0_.0_0_ ____2_,7_4_9_,_9_3_3_.3_4_ ____2_,7_4_9_,_9_3_3_.3_4_

    投资 活动现金流入小计 ___1_6_1_,0_3_9_,_1_0_7_.9_0_ __2_2_3_,4_2_9_,_5_4_4_.2_6_ __2_3_6_,0_0_3_,_2_4_3_.1_4_ __1_9_5_,3_0_1_,_3_2_4_.8_4_

    购建固定资产、无形资产和

    其他长期资产支付的现金 118,117,807.48 123,550,829.96 87,034.00 187,192.00

    投资支付的现金 - - - -

    支付 其他与投资活动有关的现金 ____________-_ __ ___________-_ __ ___________-_ __ ___________-_ __

    投资 活动现金流出小计 ___1_1_8_,_11_7_,_8_0_7_.4_8_ __1_2_3_,5_5_0_,_8_2_9_.9_6_ ______8_7_,_0_3_4_.0_0_ _____1_8_7_,_1_9_2_.0_0_

    投资活 动产生的现金流量净额 ____4_2_,9_2_1_,_3_0_0_.4_2_ ___9_9_,8_7_8_,_7_1_4_.3_0_ __2_3_5_,9_1_6_,_2_0_9_.1_4_ __1_9_5_,1_1_4_,_1_3_2_.8_4_

    筹资活动产生的现金流量

    吸收投资收到的现金 - - - -

    取得借款收到的现金 - 30,000,000.00 - -

    收到 其他与筹资活动有关的现金 ____________-_ __ ___________-_ __ ___________-_ __ ___________-_ __

    筹资 活动现金流入小计 ____________-_ __ ___3_0_,0_0_0_,_0_0_0_.0_0_ ___________-_ __ ___________-_ __

    偿还债务支付的现金 25,000,000.00 - - -

    分配股利、利润或偿付利息支付的现金 176,992,382.04 224,378,635.21 165,807,467.00 221,115,814.00

    其中：子公司支付给少数股东的股利、利润 8,883,502.45 1,924,396.71 - -

    支付 其他与筹资活动有关的现金 ____________-_ __ ___________-_ __ ___________-_ __ ___________-_ __

    筹资 活动现金流出小计 ___2_0_1_,9_9_2_,_3_8_2_.0_4_ __2_2_4_,3_7_8_,_6_3_5_.2_1_ __1_6_5_,8_0_7_,_4_6_7_.0_0_ __2_2_1_,1_1_5_,_8_1_4_.0_0_

    筹资活 动产生的现金流量净额 __(_2_0_1_,9_9_2_,_3_8_2_.0_4_) _(_1_9_4_,3_7_8_,_6_3_5_.2_1_) _(_1_6_5_,8_0_7_,_4_6_7_.0_0_) _(_2_2_1_,1_1_5_,_8_1_4_.0_0_)

    现金及现金等价物净增加(减少)额 55,233,347.38 171,628,745.23 66,131,765.34 (24,203,811.96)

    加：期 初现金及现金等价物余额 ___6_0_9_,6_0_5_,_5_7_3_.3_1_ __4_1_4_,1_6_4_,_2_3_5_.7_0_ __2_6_0_,2_6_2_,_8_9_2_.6_2_ __1_7_3_,1_5_1_,_1_5_6_.9_8_

    期末现 金及现金等价物余额 ______6__6__4__,8__3__8__,__9__2__0__.6__9__ ____5__8__5__,7__9__2__,__9__8__0__.9__3__ ____3__2__6__,3__9__4__,__6__5__7__.9__6__ ____1__4__8__,9__4__7__,__3__4__5__.0__2__

    附注为财务报表的组成部分。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -6 -

    公司及合并股东权益变动表

    2009 年6 月30 日

    附注 合并 公司

    未分配 归属于母公司 少数 股东权益 未分配 股东权益

    股本 资本公积 盈余公积 利润 股东权益 股东权益 合计 股本 资本公积 盈余公积 利润 合计

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    一、2008 年12 月31 日余额 551,610,107.00 437,051,678.24 183,594,684.76 621,386,177.73 1,793,642,647.73 215,181,242.84 2,008,823,890.57 551,610,107.00 424,681,552.81 183,594,684.76 288,230,406.55 1,448,116,751.12

    1.会计政策变更 - - - - - - - - - - - -

    2.前期差错更正 - - - - - - - - - - - -

    二、2009 年1 月1 日余额 551,610,107.00 437,051,678.24 183,594,684.76 621,386,177.73 1,793,642,647.73 215,181,242.84 2,008,823,890.57 551,610,107.00 424,681,552.81 183,594,684.76 288,230,406.55 1,448,116,751.12

    三、本年增减变动金额

    (一)净利润 - - - 140,341,179.71 140,341,179.71 15,204,375.62 155,545,555.33 - - - 234,813,908.73 234,813,908.73

    (二)直接计入股东权益的利得和损失

    1.可供出售金融资产公允价值变动净额 - 64,990,195.28 - - 64,990,195.28 276,840.65 65,267,035.93 - 53,199,046.23 - - 53,199,046.23

    2.权益法下被投资单位其他股东权益变动的影响 - - - - - - - -

    3.与计入股东权益项目相关的所得税影响 - (16,247,548.82) - - (16,247,548.82) (69,210.17) (16,316,758.99) - (13,299,761.56) - - (13,299,761.56)

    4.其他 ___________-_ __ ___________-_ __ __________-_ __ ___________-_ __ ____________-_ __ __________-_ __ ____________-_ __ __________-_ __ __________-_ __ __________-_ __ __________-_ __ _____________-_ __

    (一)和(二)小计 ___________-_ __ ___4_8_,7_4_2_,_6_4_6_.4_6_ __________-_ __ __1_4_0_,3_4_1_,_1_7_9_.7_1_ ___1_8_9_,0_8_3_,_8_2_6_.1_7_ __1_5_,4_1_2_,_0_0_6_.1_0_ ___2_0_4_,4_9_5_,_8_3_2_.2_7_ __________-_ __ __3_9_,8_9_9_,_2_8_4_.6_7_ __________-_ __ _2_3_4_,8_1_3_,_9_0_8_.7_3_ ____2_7_4_,7_1_3_,_1_9_3_.4_0_

    (三)股东投入和减少资本

    1.股东投入资本 - - - - - - - - - - - -

    2.股份支付计入股东权益的金额 - - - - - - - - - - - -

    3.其他 43 - - - - - (10,301,851.34) (10,301,851.34) - - - - -

    (四)利润分配

    1.提取盈余公积 - - 23,481,390.87 (23,481,390.87) - - - - - 23,481,390.87 (23,481,390.87) -

    2.对股东的分配 - - - (165,483,032.10) (165,483,032.10) (42,736,577.85) (208,219,609.95) - - - (165,483,032.10) (165,483,032.10)

    3.其他 - - - - - - - - - - - -

    (五)股东权益内部结转

    1.资本公积转增股本 - - - - - - - - - - - -

    2.盈余公积转增股本 - - - - - - - - - - - -

    3.盈余公积弥补亏损 - - - - - - - - - - - -

    4.其他 ___________-_ __ ___________-_ __ __________-_ __ ___________-_ __ ____________-_ __ __________-_ __ ____________-_ __ __________-_ __ __________-_ __ __________-_ __ __________-_ __ _____________-_ __

    四、2009 年6 月30 日余额 ____5__5__1__,6__1__0__,__1__0__7__.0__0__ ____4__8__5__,7__9__4__,__3__2__4__.7__0__ __2__0__7__,0__7__6__,__0__7__5__.6__3__ ____5__7__2__,7__6__2__,__9__3__4__.4__7__ __1__,__8__1__7__,2__4__3__,__4__4__1__.8__0__ __1__7__7__,5__5__4__,__8__1__9__.7__5__ __1__,__9__9__4__,7__9__8__,__2__6__1__.5__5__ __5__5__1__,6__1__0__,__1__0__7__.0__0__ __4__6__4__,5__8__0__,__8__3__7__.4__8__ __2__0__7__,0__7__6__,__0__7__5__.6__3__ __3__3__4__,0__7__9__,__8__9__2__.3__1__ ____1__,__5__5__7__,3__4__6__,__9__1__2__.4__2__

    (续)上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -7 -

    公司及合并股东权益变动表

    2009 年6 月30 日

    附注 合并 公司

    未分配 归属于母公司 少数 股东权益 未分配 股东权益

    股本 资本公积 盈余公积 利润 股东权益 股东权益 合计 股本 资本公积 盈余公积 利润 合计

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    一、2007 年12 月31 日余额 551,610,107.00 531,883,826.10 152,837,477.26 550,330,570.41 1,786,661,980.77 213,699,453.24 2,000,361,434.01 551,610,107.00 513,602,606.28 152,837,477.26 232,059,581.84 1,450,109,772.38

    1.会计政策变更 - - - - - - - - - - - -

    2.前期差错更正 - - - - - - - - - - - -

    二、2008 年1 月1 日余额 551,610,107.00 531,883,826.10 152,837,477.26 550,330,570.41 1,786,661,980.77 213,699,453.24 2,000,361,434.01 551,610,107.00 513,602,606.28 152,837,477.26 232,059,581.84 1,450,109,772.38

    三、本年增减变动金额

    (一)净利润 - - - 323,105,516.48 323,105,516.48 62,945,745.90 386,051,262.38 - - - 307,572,075.01 307,572,075.01

    (二)直接计入股东权益的利得和损失

    1.可供出售金融资产公允价值变动净额 - (133,314,994.35) - - (133,314,994.35) (220,976.06) (133,535,970.41) - (118,561,405.70) - - (118,561,405.70)

    2.权益法下被投资单位其他股东权益变动的影响 - (651,499.99) - - (651,499.99) (34,289.47) (685,789.46) - - - -

    3.与计入股东权益项目相关的所得税影响 - 33,328,749.40 - - 33,328,749.40 55,244.02 33,383,993.42 - 29,640,352.23 - - 29,640,352.23

    4.其他 - 5,805,597.08 ______________ ______________ __________-_ __ ____(_6_4_8_,_6_5_8_.8_6_) _____5_,1_5_6_,_9_3_8_.2_2_ ____2_7_1_,_4_1_7_.7_8_ _____5_,4_2_8_,_3_5_6_.0_0_ __________-_ __ __________-_ __ __________-_ __ __________-_ __ _____________-_ __

    (一)和(二)小计 ___________-_ __ __(_9_4_,8_3_2_,_1_4_7_.8_6_) __________-_ __ __3_2_2_,4_5_6_,_8_5_7_.6_2_ ___2_2_7_,6_2_4_,_7_0_9_.7_6_ __6_3_,0_1_7_,_1_4_2_.1_7_ ___2_9_0_,6_4_1_,_8_5_1_.9_3_ __________-_ __ _(_8_8_,9_2_1_,_0_5_3_.4_7_) __________-_ __ _3_0_7_,5_7_2_,_0_7_5_.0_1_ ____2_1_8_,6_5_1_,_0_2_1_.5_4_

    (三)股东投入和减少资本

    1.股东投入资本 - - - - - - - - - - - -

    2.股份支付计入股东权益的金额 - - - - - - - - - - - -

    3.其他 - - - - - - - - - - - -

    (四)利润分配

    1.提取盈余公积 - - 30,757,207.50 (30,757,207.50) - - - - - 30,757,207.50 (30,757,207.50) -

    2.对股东的分配 - - - (220,644,042.80) (220,644,042.80) (61,535,352.57) (282,179,395.37) - - - (220,644,042.80) (220,644,042.80)

    3.其他 - - - - - - - - - - - -

    (五)股东权益内部结转

    1.资本公积转增股本 - - - - - - - - - - - -

    2.盈余公积转增股本 - - - - - - - - - - - -

    3.盈余公积弥补亏损 - - - - - - - - - - - -

    4.其他 ___________-_ __ ___________-_ __ __________-_ __ ___________-_ __ ____________-_ __ __________-_ __ ____________-_ __ __________-_ __ __________-_ __ __________-_ __ __________-_ __ _____________-_ __

    四、2008 年12 月31 日余额 ____5__5__1__,6__1__0__,__1__0__7__.0__0__ ____4__3__7__,0__5__1__,__6__7__8__.2__4__ __1__8__3__,5__9__4__,__6__8__4__.7__6__ ____6__2__1__,3__8__6__,__1__7__7__.7__3__ __1__,__7__9__3__,6__4__2__,__6__4__7__.7__3__ __2__1__5__,1__8__1__,__2__4__2__.8__4__ __2__,__0__0__8__,8__2__3__,__8__9__0__.5__7__ __5__5__1__,6__1__0__,__1__0__7__.0__0__ __4__2__4__,6__8__1__,__5__5__2__.8__1__ __1__8__3__,5__9__4__,__6__8__4__.7__6__ __2__8__8__,2__3__0__,__4__0__6__.5__5__ ____1__,__4__4__8__,1__1__6__,__7__5__1__.1__2__

    附注为财务报表的组成部分。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -8 -

    财务报表附注

    截至2009年6月30日止

    一、 概况

    上海锦江国际实业投资股份有限公司(以下简称“本公司”)是一家在中华人民共和国境内由

    原上海新锦江大酒店改制而成的股份有限公司，成立于1993 年2 月24 日。本公司于1993

    年发行的A 股和B 股股票在中国上海证券交易所上市。其大股东为锦江国际(集团)有限公

    司。股本情况详见附注八、26。

    本公司及子公司(以下简称“本集团”)主要从事车辆服务、物流服务(普通货物的仓储、装卸、

    加工、包装、配送(筹建)及相关信息处理服务和有关咨询服务；提供供应链、仓储、运输、

    库存、采购订单的管理和咨询服务，计算机软件的开发与技术服务(涉及许可经营的凭许可

    证经营)；国内货物运输代理业务、国际货物运输代理业务)、旅游服务(非旅行社接待业务)、

    商务服务、宾馆、物业管理、办公用房出租、房地产开发经营，提供商场的场地。

    二、 遵循企业会计准则的声明

    本公司编制的财务报表符合新会计准则的要求，真实、完整地反映了本公司于2009年6月30日

    的公司及合并财务状况以及2009年上半年度的公司及合并经营成果和公司及合并现金流量。

    三、 重要会计政策及会计估计

    1. 会计年度

    本集团的会计年度为公历年度，即每年1月1日起至12月31日止。

    2. 记账本位币

    人民币为本公司及子公司经营所处的主要经济环境中的货币，本公司及子公司以人民币

    为记账本位币。本集团编制本财务报表时所采用的货币为人民币。

    3. 记账基础和计价原则

    本集团会计核算以权责发生制为记账基础。除某些金融工具以公允价值计量外，财务报

    表以历史成本作为计量基础。资产如果发生减值，则按照相关规定计提相应的减值准备。

    4. 现金等价物

    现金等价物是指本集团持有的期限短、流动性强、易于转换为已知金额现金、价值变动

    风险很小的投资。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    三、 重要会计政策及会计估计 - 续

    5. 外币业务折算

    外币交易在初始确认时采用交易发生日的即期汇率折算。

    于资产负债表日，外币货币性项目采用该日即期汇率折算为人民币，因该日的即期汇率

    与初始确认时或者前一资产负债表日即期汇率不同而产生的汇兑差额，均计入当期损

    益。

    以历史成本计量的外币非货币性项目仍以交易发生日的即期汇率折算的记账本位币金

    额计量。以公允价值计量的外币非货币性项目，采用公允价值确定日的即期汇率折算，

    折算后的记账本位币金额与原记账本位币金额的差额，作为公允价值变动(含汇率变动)

    处理，计入当期损益或股东权益。

    6. 金融工具的公允价值确定方法

    公允价值，指在公平交易中，熟悉情况的交易双方自愿进行资产交换或债务清偿的金额。

    金融工具存在活跃市场的，本集团采用活跃市场中的报价确定其公允价值。活跃市场中

    的报价是指易于定期从交易所、经纪商、行业协会、定价服务机构等获得的价格，且代

    表了在公平交易中实际发生的市场交易的价格。金融工具不存在活跃市场的，本集团采

    用估值技术确定其公允价值。估值技术包括参考熟悉情况并自愿交易的各方最近进行的

    市场交易中使用的价格、参照实质上相同的其他金融工具当前的公允价值、现金流量折

    现法和期权定价模型等。

    7. 金融资产的确认及计量

    以常规方式买卖金融资产，按交易日会计进行确认和终止确认。金融资产在初始确认时

    划分为以公允价值计量且其变动计入当期损益的金融资产、持有至到期投资、贷款和应

    收款项以及可供出售金融资产。初始确认金融资产，以公允价值计量。对于以公允价值

    计量且其变动计入当期损益的金融资产，相关的交易费用直接计入当期损益，对于其他

    类别的金融资产，相关交易费用计入初始确认金额。

    7.1. 以公允价值计量且其变动计入当期损益的金融资产

    包括交易性金融资产和指定为以公允价值计量且其变动计入当期损益的金融资产。本集

    团以公允价值计量且其变动计入当期损益的金融资产均为交易性金融资产。

    交易性金融资产是指满足下列条件之一的金融资产：(1)取得该金融资产的目的，主要是

    为了近期内出售或回购；(2)属于进行集中管理的可辨认金融工具组合的一部分，且有客

    观证据表明本集团近期采用短期获利方式对该组合进行管理；(3)属于衍生工具，但是，

    被指定且为有效套期工具的衍生工具、属于财务担保合同的衍生工具、与在活跃市场中

    没有报价且其公允价值不能可靠计量的权益工具投资挂钩并须通过交付该权益工具结

    算的衍生工具除外。

    交易性金融资产采用公允价值进行后续计量，公允价值变动形成的利得或损失以及与该

    等金融资产相关的股利和利息收入计入当期损益。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    三、 重要会计政策及会计估计 - 续

    7. 金融资产的确认及计量 - 续

    7.2. 贷款和应收款项

    是指在活跃市场中没有报价、回收金额固定或可确定的非衍生金融资产。本集团划分为

    贷款和应收款的金融资产包括应收账款、应收股利及其他应收款等。

    贷款和应收款项采用实际利率法，按摊余成本进行后续计量，在终止确认、发生减值或

    摊销时产生的利得或损失，计入当期损益。

    实际利率法是指按照金融资产或金融负债(含一组金融资产或金融负债)的实际利率计算

    其摊余成本及各期利息收入或支出的方法。实际利率是指将金融资产或金融负债在预期

    存续期间或适用的更短期间内的未来现金流量，折现为该金融资产或金融负债当前账面

    价值所使用的利率。

    在计算实际利率时，本集团将在考虑金融资产或金融负债所有合同条款的基础上预计未

    来现金流量(不考虑未来的信用损失)，同时还将考虑金融资产或金融负债合同各方之间

    支付或收取的、属于实际利率组成部分的各项收费、交易费用及折价或溢价等。

    7.3. 可供出售金融资产

    包括初始确认时即被指定为可供出售的非衍生金融资产，以及除了以公允价值计量且其

    变动计入当期损益的金融资产、贷款和应收款项、持有至到期投资以外的金融资产。

    可供出售金融资产采用公允价值进行后续计量，公允价值变动形成的利得或损失，除减

    值损失和外币货币性金融资产的汇兑差额计入当期损益外，直接计入股东权益，在该金

    融资产终止确认时转出，计入当期损益。

    可供出售金融资产持有期间取得的利息及被投资单位宣告发放的现金股利，计入投资收

    益。

    8. 金融资产减值

    除了以公允价值计量且其变动计入当期损益的金融资产外，本集团在每个资产负债表日

    对其他金融资产的账面价值进行检查，有客观证据表明金融资产发生减值的，计提减值

    准备。

    金融资产发生减值的客观证据，包括下列可观察到的各项事项：

    (1) 发行方或债务人发生严重财务困难；

    (2) 债务人违反了合同条款，如偿付利息或本金发生违约或逾期等；

    (3) 本集团出于经济或法律等方面因素的考虑，对发生财务困难的债务人作出让步；

    (4) 债务人很可能倒闭或者进行其他财务重组；

    (5) 因发行方发生重大财务困难，导致金融资产无法在活跃市场继续交易；

    (6) 无法辨认一组金融资产中的某项资产的现金流量是否已经减少，但根据公开的数据

    对其进行总体评价后发现，该组金融资产自初始确认以来的预计未来现金流量确已

    减少且可计量，包括：

    – 该组金融资产的债务人支付能力逐步恶化；

    – 债务人所在国家或地区经济出现了可能导致该组金融资产无法支付的状况；上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    三、 重要会计政策及会计估计 - 续

    8. 金融资产减值 - 续

    (7) 债务人经营所处的技术、市场、经济或法律环境等发生重大不利变化，使权益工具

    投资人可能无法收回投资成本；

    (8) 权益工具投资的公允价值发生严重或非暂时性下跌；

    (9) 其他表明金融资产发生减值的客观证据。

    本集团对单项金额重大的金融资产单独进行减值测试；对单项金额不重大的金融资产，

    单独进行减值测试或包括在具有类似信用风险特征的金融资产组合中进行减值测试。单

    独测试未发生减值的金融资产(包括单项金额重大和不重大的金融资产)，应包括在具有

    类似信用风险特征的金融资产组合中再进行减值测试。已单项确认减值损失的金融资

    产，不应包括在具有类似信用风险特征的金融资产组合中进行减值测试。

    - 贷款和应收款项减值

    以成本或摊余成本计量的金融资产将其账面价值减记至预计未来现金流量现值，减记金

    额确认为减值损失，计入当期损益。金融资产在确认减值损失后，如有客观证据表明该

    金融资产价值已恢复，且客观上与确认该损失后发生的事项有关，原确认的减值损失予

    以转回，金融资产转回减值损失后的账面价值不超过假定不计提减值准备情况下该金融

    资产在转回日的摊余成本。

    - 可供出售金融资产减值

    可供出售金融资产发生减值时，将原直接计入资本公积的因公允价值下降形成的累计损

    失予以转出并计入当期损益，该转出的累计损失为该资产初始取得成本扣除已收回本金

    和已摊销金额、当前公允价值和原已计入损益的减值损失后的余额。

    在确认减值损失后，期后如有客观证据表明该金融资产价值已恢复，且客观上与确认该

    损失后发生的事项有关，原确认的减值损失予以转回，可供出售权益工具投资的减值损

    失转回计入权益，可供出售债务工具的减值损失计入当期损益。

    在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资，或与该权益工具挂

    钩并须通过交付该权益工具结算的衍生金融资产的减值损失，不予转回。

    9. 金融资产的终止确认

    满足下列条件之一的金融资产，予以终止确认：(1)收取该金融资产现金流量的合同权利

    终止；(2)该金融资产已转移，且将金融资产所有权上几乎所有的风险和报酬转移给转入

    方；(3)该金融资产已转移，虽然企业既没有转移也没有保留金融资产所有权上几乎所有

    的风险和报酬，但是放弃了对该金融资产控制。

    10. 存货

    本集团的存货主要包括库存商品、备品备件、物料用品和食品饮料及其他。按成本进行

    初始计量，存货成本包括采购成本、加工成本和其他使存货达到目前场所和状态所发生

    的支出。

    车辆营运业务的备品备件发出时按加权平均法确定其实际成本，其余业务的存货发出

    时，除物料用品采用加权平均法外，均按先进先出法确定其实际成本。

    存货盘存制度为永续盘存制。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    三、 重要会计政策及会计估计 - 续

    11. 存货跌价准备

    资产负债表日，存货按照成本与可变现净值孰低计量。当其可变现净值低于成本时，提

    取存货跌价准备。对于数量繁多、单价较低的存货，按存货类别计提存货跌价准备；其

    他存货按单个存货项目的成本高于其可变现净值的差额提取存货跌价准备。

    计提存货跌价准备后，如果以前减记存货价值的影响因素已经消失，导致存货的可变现

    净值高于其账面价值的，在原已计提的存货跌价准备金额内予以转回，转回的金额计入

    当期损益。

    可变现净值是指在日常活动中，存货的估计售价减去至完工时估计将要发生的成本、估

    计的销售费用以及相关税费后的金额。在确定存货的可变现净值时，以取得的确凿证据

    为基础，同时考虑持有存货的目的以及资产负债表日后事项的影响。

    12. 投资性房地产

    投资性房地产是指为赚取租金或资本增值，或两者兼有而持有的房地产。包括已出租的

    土地使用权、持有并准备增值后转让的土地使用权、已出租的建筑物等。

    投资性房地产按成本进行初始计量。与投资性房地产有关的后续支出，如果与该资产有

    关的经济利益很可能流入且其成本能可靠地计量，则计入投资性房地产成本。其他后续

    支出，在发生时计入当期损益。

    本集团采用成本模式对投资性房地产进行后续计量，并按照与房屋建筑物或土地使用权

    一致的政策进行折旧或摊销。

    自用房地产或存货转换为投资性房地产或投资性房地产转换为自用房地产时，按转换前

    的账面价值作为转换后的入账价值。

    投资性房地产出售、转让、报废或毁损的处置收入扣除其账面价值和相关税费后的差额

    计入当期损益。

    13. 长期股权投资

    对于企业合并形成的长期股权投资，如为同一控制下的企业合并取得的长期股权投资，

    在合并日按照取得被合并方股东权益账面价值的份额作为初始投资成本；通过非同一控

    制下的企业合并取得的长期股权投资，按照合并成本作为长期股权投资的初始投资成

    本。除企业合并形成的长期股权投资外的其他长期股权投资，按成本进行初始计量。

    对被投资单位不具有共同控制或重大影响并且在活跃市场中没有报价、公允价值不能可

    靠计量的长期股权投资，采用成本法核算；对被投资单位具有共同控制或重大影响的长

    期股权投资，采用权益法核算；对被投资单位不具有控制、共同控制或重大影响并且公

    允价值能够可靠计量的长期股权投资，作为可供出售金融资产核算。

    此外，本公司财务报表对被投资单位能够实施控制的长期股权投资采用成本法核算。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    三、 重要会计政策及会计估计 - 续

    13. 长期股权投资 - 续

    控制是指有权决定一个企业的财务和经营政策，并能据以从该企业的经营活动中获取利

    益。共同控制是指按照合同约定对某项经济活动所共有的控制，仅在与该项经济活动相

    关的重要财务和经营决策需要分享控制权的投资方一致同意时存在。重大影响是指对一

    个企业的财务和经营政策有参与决策的权力，但并不能够控制或者与其他方一起共同控

    制这些政策的制定。

    13.1.成本法核算的长期股权投资

    采用成本法核算时，长期股权投资按初始投资成本计价，当期投资收益仅限于所获得的

    被投资单位在接受投资后产生的累积净利润的分配额，所获得的被投资单位宣告分派的

    利润或现金股利超过上述数额的部分，作为初始投资成本的收回，冲减投资的账面价值。

    13.2.权益法核算的长期股权投资

    采用权益法核算时，长期股权投资的初始投资成本大于投资时应享有被投资单位可辨认

    净资产公允价值份额的，不调整长期股权投资的初始投资成本；初始投资成本小于投资

    时应享有被投资单位可辨认净资产公允价值份额的，其差额计入当期损益，同时调整长

    期股权投资的成本。

    采用权益法核算时，当期投资损益为应享有或应分担的被投资单位当年实现的净损益的

    份额。在确认应享有被投资单位净损益的份额时，以取得投资时被投资单位各项可辨认

    资产等的公允价值为基础，并按照本集团的会计政策及会计期间，对被投资单位的净利

    润进行调整后确认。对于本集团与联营企业及合营之间发生的未实现内部交易损益，按

    照持股比例计算属于本集团的部分予以抵销，在此基础上确认投资损益。但本集团与被

    投资单位发生的未实现内部交易损失，按照《企业会计准则第8号―资产减值》等规定

    属于所转让资产减值损失的，不予以抵销。对被投资单位除净损益以外的其他所有者权

    益变动，相应调整长期股权投资的账面价值并计入股东权益。

    在确认应分担被投资单位发生的净亏损时，以长期股权投资的账面价值和其他实质上构

    成对被投资单位净投资的长期权益减记至零为限。此外，如本集团对被投资单位负有承

    担额外损失的义务，则按预计承担的义务确认预计负债，计入当期投资损失。被投资单

    位以后期间实现净利润的，本集团在收益分享额弥补未确认的亏损分担额后，恢复确认

    收益分享额。

    对于首执行日之前已经持有的对联营企业和合营企业的长期股权投资，如存在与该投资

    相关的股权投资借方差额，按原剩余期限直线摊销的金额计入当期损益。

    13.3.处置长期股权投资

    处置长期股权投资时，其账面价值与实际取得价款的差额，计入当期损益。采用权益法

    核算的长期股权投资，在处置时将原计入股东权益的部分按相应的比例转入当期损益。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    14. 固定资产及折旧

    固定资产是指为生产商品、提供劳务、出租或经营管理而持有的，使用寿命超过一个会

    计年度的有形资产。

    固定资产按成本并考虑预计弃置费用因素的影响进行初始计量。对于本集团所拥有固定

    资产，从其达到预定可使用状态的次月起，采用年限平均法在使用寿命内提取折旧。采

    用年限平均法提取折旧的各类固定资产的使用寿命、预计净残值率和年折旧率如下：

    类别 使用寿命 估计净残值率 年折旧率

    房屋建筑物 20-50年 4-10% 1.8-4.8%

    机器设备 5-20年 4-10% 4.8-19.2%

    电子设备、器具及家具 3-10年 4-10% 9.0-32.0%

    营运车辆 4-10年 4-10% 9.0-22.5%

    其他运输设备 5-10年 4-10% 9.0-19.2%

    酒店改造 5年 - 20%

    预计净残值是指假定固定资产预计使用寿命已满并处于使用寿命终了时的预期状态，本

    集团目前从该项资产处置中获得的扣除预计处置费用后的金额。

    与固定资产有关的后续支出，如果与该固定资产有关的经济利益很可能流入且其成本能

    可靠地计量，则计入固定资产成本，并终止确认被替换部分的账面价值，除此以外的其

    他后续支出，在发生时计入当期损益。

    本集团至少于年度终了对固定资产的使用寿命、预计净残值和折旧方法进行复核，如发

    生改变则作为会计估计变更处理。

    固定资产出售、转让、报废或毁损的处置收入扣除其账面价值和相关税费后的差额计入

    当期损益。

    15. 在建工程

    在建工程成本按实际工程支出确定，包括在建期间发生的各项工程支出以及其他相关费

    用等。在建工程在达到预定可使用状态后结转为固定资产。

    16. 无形资产

    无形资产是指本集团拥有或者控制的没有实物形态的可辨认非货币性资产。

    无形资产按成本进行初始计量。与无形资产有关的支出，如果相关的经济利益很可能流

    入本集团且其成本能可靠地计量，则计入无形资产成本。除此以外的其他无形项目的支

    出，在发生时计入当期损益。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    16. 无形资产 - 续

    取得的土地使用权通常作为无形资产核算。自行开发建造厂房等建筑物，相关的土地使

    用权支出和建筑物建造成本则分别作为无形资产和固定资产核算。如为外购的房屋及建

    筑物，则将有关价款在土地使用权和建筑物之间进行分配，难以合理分配的，全部作为

    固定资产处理。

    使用寿命有限的无形资产自可供使用时起，对其原值在其预计使用寿命内采用直线法分

    期平均摊销，使用寿命不确定的无形资产不予摊销。出租车营运牌照由于使用寿命不确

    定而不予摊销。

    期末，对使用寿命有限的无形资产的使用寿命和摊销方法进行复核，如发生变更则作为

    会计估计变更处理。此外，还对使用寿命不确定的无形资产的使用寿命进行复核，如果

    有证据表明该无形资产为企业带来经济利益的期限是可预见的，则估计其使用寿命并按

    照使用寿命有限的无形资产的摊销政策进行摊销。

    17. 长期待摊费用

    长期待摊费用为已经发生但应由本期和以后各期负担的分摊期限在一年以上的各项费

    用。长期待摊费用在预计受益期间分期平均摊销。

    18. 持有待售的非流动资产

    若本集团已就处置某项非流动资产作出决议，已经与受让方签订了不可撤销的转让协

    议，且该项转让很可能在一年内完成，则该非流动资产作为持有待售非流动资产核算，

    不计提折旧或进行摊销，按照账面价值与公允价值减去处置费用后的净额孰低计量。持

    有待售的非流动资产为单项资产。

    19. 非金融资产减值

    本集团在每一个资产负债表日检查长期股权投资、投资性房地产、固定资产、在建工程

    及使用寿命确定的无形资产是否存在可能发生减值的迹象。如果该等资产存在减值迹

    象，则估计其可收回金额。估计资产的可收回金额以单项资产为基础，如果难以对单项

    资产的可收回金额进行估计的，则以该资产所属的资产组为基础确定资产组的可收回金

    额。如果资产的可收回金额低于其账面价值，按其差额计提资产减值准备，并计入当期

    损益。

    使用寿命不确定的无形资产，无论是否存在减值迹象，每年均进行减值测试。

    可收回金额为资产的公允价值减去处置费用后的净额与资产预计未来现金流量的现值

    两者之中的较高者。资产的公允价值根据公平交易中销售协议价格确定；不存在销售协

    议但存在资产活跃市场的，公允价值按照该资产的买方出价确定；不存在销售协议和资

    产活跃市场的，则以可获取的最佳信息为基础估计资产的公允价值。处置费用包括与资

    产处置有关的法律费用、相关税费、搬运费以及为使资产达到可销售状态所发生的直接

    费用。

    上述减值损失一经确认，在以后会计期间不予转回。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    20. 金融负债

    金融负债在初始确认时划分为以公允价值计量且其变动计入当期损益的金融负债和其

    他金融负债。初始确认金融负债，以公允价值计量。对于以公允价值计量且其变动计入

    当期损益的金融负债，相关的交易费用直接计入当期损益，对于其他金融负债，相关交

    易费用计入初始确认金额。本集团暂无划分为公允价值计量且其变动计入当期损益的金

    融负债。

    20.1. 其他金融负债

    其他金融负债采用实际利率法，按摊余成本进行后续计量，终止确认或摊销产生的利得

    或损失计入当期损益。

    20.2. 财务担保合同

    不属于指定为以公允价值计量且其变动计入当期损益的金融负债的财务担保合同，以公

    允价值进行初始确认，在初始确认后按照《企业会计准则—或有事项》确定的金额和初

    始确认金额扣除按照《企业会计准则—收入》的原则确定的累积摊销额后的余额之中的

    较高者进行后续计量。

    21. 职工薪酬

    本集团在职工提供服务的会计期间，将应付的职工薪酬确认为负债。

    本集团按规定参加由政府机构设立的职工社会保障体系，包括基本养老保险、医疗保险、

    住房公积金及其他社会保障制度，相应的支出于发生时计入相关资产成本或当期损益。

    在职工劳动合同到期之前解除与职工的劳动关系，或为鼓励职工自愿接受裁减而提出给

    予补偿的建议，如果本集团已经制定正式的解除劳动关系计划或提出自愿裁减建议并即

    将实施，同时本集团不能单方面撤回解除劳动关系计划或裁减建议的，确认因解除与职

    工劳动关系给予补偿产生的预计负债，并计入当期损益。

    职工内部退休计划采用上述辞退福利相同的原则处理。本集团将自职工停止提供服务日

    至正常退休日的期间拟支付的内退人员工资和缴纳的社会保险费等，在符合预计负债确

    认条件时，计入当期损益(辞退福利)。

    22. 金融资产与金融负债的抵销

    当本集团具有抵销已确认金融资产和金融负债的法定权利，且目前可执行该种法定权

    利，同时本集团计划以净额结算或同时变现该金融资产和清偿该金融负债时，金融资产

    和金融负债以相互抵销后的金额在资产负债表内列示。除此以外，金融资产和金融负债

    在资产负债表内分别列示，不予相互抵销。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    23. 权益工具

    权益工具是指能证明拥有本集团在扣除所有负债后的资产中的剩余权益的合同。权益工

    具，在发行时收到的对价扣除交易费用后增加所有者权益。回购自身权益工具支付的对

    价和交易费用减少所有者权益。发行、回购、出售或注销权益工具时，不确认利得或损

    失。

    本集团对权益工具持有方的各种分配(不包括股票股利)，减少所有者权益。本集团不确

    认权益工具的公允价值变动额。

    24. 收入确认原则

    24.1.商品销售收入

    在已将商品所有权上的主要风险和报酬转移给买方，既没有保留通常与所有权相联系的

    继续管理权，也没有对已售商品实施有效控制，收入的金额能够可靠地计量，相关的经

    济利益很可能流入企业，相关的已发生或将发生的成本能够可靠地计量时，确认商品销

    售收入的实现。

    24.2.提供劳务收入

    在提供劳务交易的结果能够可靠估计的情况下，于资产负债表日按照完工百分比法确认

    提供的劳务收入。劳务交易的完工进度按已经提供的劳务占应提供劳务总量的比例确

    定。

    提供劳务交易的结果能够可靠估计是指同时满足：(1)收入的金额能够可靠地计量；(2)

    相关的经济利益很可能流入企业；(3)交易的完工程度能够可靠地确定；(4)交易中已发生

    和将发生的成本能够可靠地计量。

    如果提供劳务交易的结果不能够可靠估计，则按已经发生并预计能够得到补偿的劳务成

    本金额确认提供的劳务收入，并将已发生的劳务成本作为当期费用。已经发生的劳务成

    本如预计不能得到补偿的，则不确认收入。

    24.3.让渡资产使用权

    与交易相关的经济利益很可能流入企业，收入的金额能够可靠地计量时。

    24.4.利息收入

    按照他人使用本集团货币资金的时间和实际利率计算确定。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    25. 政府补助

    政府补助是指本集团从政府无偿取得货币性资产和非货币性资产，不包括政府作为所有

    者投入的资本。政府补助分为与资产相关的政府补助和与收益相关的政府补助。

    政府补助为货币性资产的，按照收到或应收的金额计量。政府补助为非货币性资产的，

    按照公允价值计量；公允价值不能够可靠取得的，按照名义金额计量。按照名义金额计

    量的政府补助，直接计入当期损益。

    与资产相关的政府补助，确认为递延收益，并在相关资产的使用寿命内平均分配计入当

    期损益。与收益相关的政府补助，用于补偿以后期间的相关费用和损失的，确认为递延

    收益，并在确认相关费用的期间计入当期损益；用于补偿已经发生的相关费用和损失的，

    直接计入当期损益。

    已确认的政府补助需要返还时，存在相关递延收益余额的，冲减相关递延收益账面余额，

    超出部分计入当期损益；不存在相关递延收益的，直接计入当期损益。

    26. 借款费用

    借款费用包括借款利息、折价或溢价的摊销、辅助费用以及因外币借款而发生的汇兑差

    额等。借款费用在发生当期确认为费用。

    27. 所得税

    27.1.当期所得税

    资产负债表日，对于当期和以前期间形成的当期所得税负债(或资产)，以按照税法规定

    计算的预期应交纳(或返还)的所得税金额计量。计算当期所得税费用所依据的应纳税所

    得额系根据有关税法规定对本期税前会计利润作相应调整后计算得出。

    27.2.递延所得税资产及递延所得税负债

    某些资产、负债项目的账面价值与其计税基础之间的差额，以及未作为资产和负债确认

    但按照税法规定可以确定其计税基础的项目的账面价值与计税基础之间的差额产生的

    暂时性差异，采用资产负债表债务法确认递延所得税资产及递延所得税负债。

    与商誉的初始确认有关，以及与既不是企业合并、发生时也不影响会计利润和应纳税所

    得额(或可抵扣亏损)的交易中产生的资产或负债的初始确认有关的应纳税暂时性差异，

    不予确认有关的递延所得税负债。此外，对与子公司、联营企业及合营企业投资相关的

    应纳税暂时性差异，如果本集团能够控制暂时性差异转回的时间，而且该暂时性差异在

    可预见的未来很可能不会转回，也不予确认有关的递延所得税负债。除上述例外情况，

    本集团确认其他所有应纳税暂时性差异产生的递延所得税负债。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    27. 所得税 - 续

    27.2.递延所得税资产及递延所得税负债 - 续

    与既不是企业合并、发生时也不影响会计利润和应纳税所得额(或可抵扣亏损)的交易中

    产生的资产或负债的初始确认有关的可抵扣暂时性差异，不予确认有关的递延所得税资

    产。此外，对与子公司、联营企业及合营企业投资相关的可抵扣暂时性差异，如果暂时

    性差异在可预见的未来不是很可能转回，或者未来不是很可能获得用来抵扣可抵扣暂时

    性差异的应纳税所得额，不予确认有关的递延所得税资产。除上述例外情况，本集团以

    很可能取得用来抵扣可抵扣暂时性差异的应纳税所得额为限，确认其他可抵扣暂时性差

    异产生的递延所得税资产。

    对于能够结转以后年度的可抵扣亏损和税款抵减，以很可能获得用来抵扣可抵扣亏损和

    税款抵减的未来应纳税所得额为限，确认相应的递延所得税资产。

    资产负债表日，对于递延所得税资产和递延所得税负债，根据税法规定，按照预期收回

    相关资产或清偿相关负债期间的适用税率计量。

    于资产负债表日，对递延所得税资产的账面价值进行复核，如果未来很可能无法获得足

    够的应纳税所得额用以抵扣递延所得税资产的利益，则减记递延所得税资产的账面价

    值。在很可能获得足够的应纳税所得额时，减记的金额予以转回。

    27.3.所得税费用

    所得税费用包括当期所得税和递延所得税。

    除与直接计入所有者权益的交易和事项相关的当期所得税和递延所得税计入股东权益，

    以及企业合并产生的递延所得税调整商誉的账面价值外，其余当期所得税和递延所得税

    费用或收益计入当期损益。

    27.4. 所得税的抵消

    当拥有以净额结算的法定权利，且意图以净额结算或取得资产、清偿负债同时进行时，

    本集团当期所得税资产及当期所得税负债以抵消后的净额列报。

    当拥有以净额结算当期所得税资产及当期所得税负债的法定权利，且递延所得税资产及

    递延所得税负债是与同一税收征管部门对同一纳税主体征收的所得税相关或者是对不

    同的纳税主体相关，但在未来每一具有重要性的递延所得税资产及负债转回的期间内，

    涉及的纳税主体意图以净额结算当期所得税资产和负债或是同时取得资产、清偿负债

    时，本集团递延所得税资产及递延所得税负债以抵消后的净额列报。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 0 -

    三、 重要会计政策及会计估计 - 续

    28. 企业合并

    企业合并指将两个或两个以上单独的企业合并形成一个报告主体的交易或事项。企业合

    并分为同一控制下企业合并和非同一控制下企业合并。

    本集团在合并日或购买日确认因企业合并取得的资产、负债。合并日或购买日为实际取

    得对被合并方或被购买方控制权的日期，即被合并方或被购买方的净资产或生产经营决

    策的控制权转移给本集团的日期。

    28.1.同一控制下的企业合并

    参与合并的企业在合并前后均受同一方或相同的多方最终控制，且该控制并非暂时性

    的，为同一控制下的企业合并。在合并日取得对其他参与合并企业控制权的一方为合并

    方，参与合并的其他企业为被合并方。

    合并方在企业合并中取得的资产和负债，按合并日在被合并方的账面价值计量。合并方

    取得的净资产账面价值与支付的合并对价的账面价值(或发行股份面值总额)的差额，调

    整资本公积中的股本溢价，股本溢价不足冲减的则调整留存收益。

    合并方为进行企业合并发生的各项直接费用，于发生时计入当期损益。

    28.2.非同一控制下的企业合并及商誉

    参与合并的企业在合并前后不受同一方或相同的多方最终控制，为非同一控制下的企业

    合并。非同一控制下的企业合并，在购买日取得对其他参与合并企业控制权的一方为购

    买方，参与合并的其他企业为被购买方。

    对于非同一控制下的企业合并，合并成本为购买日为取得被购买方的控制权而付出的资

    产、发生或承担的负债以及发行的权益性工具的公允价值，以及为企业合并而发生的各

    项直接相关费用。通过多次交换交易分步实现的企业合并，合并成本为每一单项交易成

    本之和。在合并合同中对可能影响合并成本的未来事项作出约定的，购买日如果估计未

    来事项很可能发生并且对合并成本的影响金额能够可靠计量的，也计入合并成本。

    非同一控制下企业合并中所取得的被购买方符合确认条件的可辨认资产、负债及或有负

    债在收购日以公允价值计量。

    合并成本大于合并中取得的被购买方可辨认净资产公允价值份额的差额，确认为商誉。

    合并成本小于合并中取得的被购买方可辨认净资产公允价值份额的，首先对取得的被购

    买方各项可辨认资产、负债及或有负债的公允价值以及合并成本的计量进行复核，复核

    后合并成本仍小于合并中取得的被购买方可辨认净资产公允价值份额的，计入当期损

    益。

    29. 租赁

    融资租赁为实质上转移了与资产所有权有关的全部风险和报酬的租赁，其所有权最终可

    能转移，也可能不转移。融资租赁以外的其他租赁为经营租赁。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 1 -

    三、 重要会计政策及会计估计 - 续

    29. 租赁 - 续

    29.1. 本集团作为承租人记录经营租赁业务

    经营租赁的租金支出在租赁期内的各个期间按直线法计入相关资产成本或当期损益。初

    始直接费用计入当期损益。或有租金于实际发生时计入当期损益。

    29.2. 本集团作为出租人记录经营租赁业务

    经营租赁的租金收入在租赁期内的各个期间按直线法确认为当期损益。对金额较大的初

    始直接费用于发生时予以资本化，在整个租赁期间内按照与确认租金收入相同的基础分

    期计入当期损益；其他金额较小的初始直接费用于发时计入当期损益。或有租金于实际

    发生时计入当期损益。

    30. 合并财务报表的编制方法

    合并财务报表的合并范围以控制为基础予以确定。控制是指本集团能够决定另一个企业

    的财务和经营政策，并能据以从该企业的经营活动中获取利益的权力。

    本公司将取得或失去对子公司控制权的日期作为购买日和处置日。对于处置的子公司的

    经营成果和现金流量已经适当地包括在合并利润表和合并现金流量表中；当期处置不调

    整合并资产负债表的期初数。非同一控制下企业合并增加的子公司，其购买日后的经营

    成果及现金流量已经适当地包括在合并利润表和合并现金流量表中，且不调整合并财务

    报表的期初数和对比数。同一控制下企业合并增加的子公司，其自合并当期期初至合并

    日的经营成果和现金流量已经适当地包括在合并利润表和合并现金流量表中，并且同时

    调整合并财务报表的对比数。

    子公司采用的主要会计政策和会计期间按照本集团统一规定的会计政策和会计期间厘

    定。

    公司与子公司及子公司相互之间的所有重大账目及交易于合并时抵销。

    子公司所有者权益中不属于母公司的份额作为少数股东权益，在合并资产负债表中所有

    者权益项目下以“少数股东权益”项目列示。子公司当期净损益中属于少数股东权益的份

    额，在合并利润表中净利润项目下以“少数股东损益”项目列示。少数股东分担的子公司

    的亏损超过了少数股东在该子公司期初所有者权益中所享有的份额，如果公司章程或协

    议规定少数股东有义务承担并且有能力予以弥补的，冲减少数股东权益，否则冲减归属

    于母公司股东权益。该子公司以后期间实现的利润，在弥补了母公司承担的属于少数股

    东的损失之前，全部归属于母公司的股东权益。

    31. 关联方

    一方控制、共同控制另一方或对另一方施加重大影响，以及两方或两方以上同受一方控

    制、共同控制或重大影响的，构成关联方。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 2 -

    四、 运用会计政策过程中所作的重要判断和会计估计所采用的关键假设的不确定因素

    本集团在运用附注三所描述的会计政策过程中，由于经营活动内在的不确定性，本集团需

    要对无法准确计量的报表项目的账面价值进行判断、估计和假设。这些判断、估计和假设

    是基于本集团管理层过去的历史经验，并在考虑其他相关因素的基础上作出的。实际的结

    果可能与本集团的估计存在差异。

    本集团对前述判断、估计和假设在持续经营的基础上进行定期复核，会计估计的变更仅影

    响变更当期的，其影响数在变更当期予以确认；既影响变更当期又影响未来期间的，其影

    响数在变更当期和未来期间予以确认。

    - 会计估计所采用的关键假设和不确定因素

    资产负债表日，会计估计中很可能导致未来期间资产、负债账面价值作出重大调整的关键

    假设和不确定性主要有：

    出租车营运牌照的使用寿命

    本集团所拥有的出租车营运牌照并无使用年限限制，本集团管理层认为在可预见的将来该

    出租车营运牌照均会使用并带给集团预期的经济利益流入，故其使用寿命是不确定的。

    五、 会计估计变更

    为了更加公允地反映公司的财务状况和经营成果，提供更准确的会计信息，根据《企业会

    计准则》的规定，结合公司资产特性及自然使用寿命的实际情况，对固定资产中“有顶灯

    出租营运车辆和商务小车”的折旧方法由6 年双倍余额法变更为4 年直线法，残值率由5

    ％变更为10%。

    本次会计估计变更日为2009 年4 月1 日，此估计变更增加本期净利润人民币3,581,500 元。

    六、 税项

    营业税

    小型出租车和客运线路营运收入的营业税按核定应纳税营业额的3%缴纳。

    其他车辆营运收入的营业税按应纳税营业额的3%缴纳。

    其他服务收入的营业税按应税服务收入的5%缴纳。

    增值税

    应纳增值税为销项税额减可抵扣进项税后的余额，销项税额按根据相关税法规定计算的销

    售额的17%计算。

    所得税

    本公司2009 年实际所得税税率为20%(2008 年度：18%)。

    根据2007 年3 月16 日发布的《中华人民共和国企业所得税法》的规定，本公司自2008 年

    1 月1 日起按有关规定和政策逐步执行25%的企业所得税率。本公司系注册于上海浦东新区

    的企业，各年度实际税率如下：

    实际税率

    2008 年 18%

    2009 年 20%

    2010 年 22%

    2011 年 24%

    2012 年及以后 25%上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 3 -

    六、 税项 - 续

    所得税 - 续

    除如下子公司外，其他子公司的企业所得税税率为25%。

    公司名称 2009年度实际税率

    上海锦江汽车服务有限公司 20% (注1)

    上海锦海捷亚物流管理有限公司 20% (注1)

    上海锦江国际低温物流发展有限公司 20% (注1)

    上海锦江商旅汽车服务股份有限公司 20% (注1)

    上海浦东友谊汽车服务有限责任公司 20% (注1)

    上海锦江汽车租赁有限公司 20% (注1)

    上海锦佳汽车贸易有限公司 20% (注1)

    上海锦江公共交通有限公司 20% (注1)

    上海津悦汽车咨询服务有限公司 核定 (注2)

    其他

    按流转税额的7%缴纳城市建设税。

    按流转税额的3%缴纳教育费附加。

    按流转税额的1%缴纳河道管理费。

    注1：上述公司的注册地为上海浦东新区，按有关政策，2009 年度实际税率20%。

    注2：经税务局认定，上海津悦汽车咨询服务有限公司按营业收入的10%的25%核定征收

    所得税。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 4 -

    七、 合并财务报表范围

    组织 本集团年末 本集团合计

    名称 企业类型 机构代码 法人代表 注册地点 经营范围 注册资本 实际投资额 持股比例

    人民币万元 人民币万元 %

    上年末及本期末本集团均持有之子公司

    －本公司设立的子公司

    上海锦海捷亚物流管理 有限责任公司 60720956-4 杨原平 上海 国际、国内物流企业管理、国际国内货运企业管理、货 8,000 5,200 65

    有限公司(“物流管理”) (台港澳及境内合资) 物技术进出口(不含分销业务)及相关信息管理、提供相

    关服务咨询。

    上海锦江国际低温物流 有限责任公司 792741797 张国美 上海 仓储物流管理服务及相关业务咨询，存货管理服务、货 10,000 10,000 100

    发展有限公司(“锦江低温物流”) 物运输代理管理，商务信息咨询(除经纪)(涉及许可经营

    的凭许可证经营) 。

    －通过同一控制下的企业合并取得的子公司

    上海锦江汽车服务有限公司(“锦江汽车”) 有限责任公司 13373676-7 杨原平 上海 大小客车出租服务，旅游，汽车修理，长途客运，汽车 33,849 53,814 95

    配件、客车租赁，房地产信息咨询，附设分支机构，保

    险兼业代理。(以上涉及许可经营的凭许可证经营)。

    上海锦江商旅汽车服务股份有限公司(注1) 有限责任公司 734552795 戎平涛 上海 大小客车出租服务，跨省市长途客运汽车配件，汽车修 7,000 3,430 50

    理，以及相关业务的咨询服务。

    上海太平洋客运服务有限公司 有限责任公司 133048729 戎平涛 上海 跨省市旅客运输、代办跨省市客运业务等。 200 200 100

    上海锦江高速客运有限公司 有限责任公司 631318058 许文忠 上海 省际道路旅客运输、高速公路旅客运输，代办省际道路 1,000 1,000 100

    旅客运输、代办高速公路旅客运输等。

    上海商旅投资咨询有限公司 有限责任公司 740586932 戎平涛 上海 投资咨询、企业管理咨询等。 1,600 1,600 100

    上海浦东友谊汽车服务有限责任公司 有限责任公司 133700887 吴晓国 上海 汽车客运，汽车修理，汽车配件的销售。(涉及许可经营 561 493 87.83

    的凭许可证经营)。

    上海锦江公共交通有限公司 有限责任公司 739026276 吴晓国 上海 市内公交客运，汽车配件及辅助产品的销售。 1,000 1,000 93.92

    上海锦江汽车租赁有限公司 有限责任公司 13226636-1 沈正东 上海 汽车租赁。 330 330 100

    上海中油锦友油品经营有限公司 有限责任公司 63165642-8 翁志雄 上海 油气站开发(专项凭许可证)、服务，附设市西分公司。 200 152 76

    上海嘉定锦江汽车服务有限公司 有限责任公司 70328624-4 余国富 上海 出租汽车营运、汽车配件的批售，客车租赁(涉及许可 500 350 70

    经营的凭许可证经营)。

    上海锦佳汽车贸易有限公司 有限责任公司 13382805-5 施根昌 上海 汽车(含小轿车)及配件的销售、汽车内装潢。 1,010 1,010 100

    上海锦江丰田汽车销售服务有限公司 有限责任公司 76692464-5 华庆建 上海 汽车、品牌轿车销售及售后服务、汽车维修、汽车内装 1,000 700 70

    潢、汽车技术信息服务，汽车配件的销售，二手车经

    (涉及行政许可的凭许可经营)。

    上海锦振电子技术有限公司 有限责任公司 132284690 余国富 上海 计算机、通讯、电子技术领域内的科技咨询，技术开发、 80 80 100

    转让、服务，销售维修电子器材。

    上海花样年华广告有限公司 有限责任公司 13224869X 余国富 上海 承接各类广告设计、制作；承办出租车辆国内外广告发布 80 64 80

    上海丰田汽车维修有限公司 有限责任公司 13263238-4 丁跃华 上海 汽车修理、汽车零部件。 85 85 100

    上海振星出租汽车管理有限公司 有限责任公司 77328018X 吴晓国 上海 出租汽车个体工商户管理服务、汽车内部装饰(涉及许 10 100 100

    可经营的凭许可证经营)。

    上海津悦汽车咨询服务有限公司 有限责任公司 77764224-8 丁跃华 上海 汽车咨询服务。汽车配件，装饰材料(除危险品) 零售。 30 30 100

    (涉及许可经营的凭许可证经营)。

    上海锦江机动车驾驶员培训有限公司 有限责任公司(国有控股) 66938544-0 余国富 上海 普通机动车驾驶员培训。(涉及行政许可的，凭许可证经营) 500 500 100

    大连锦江汽车租赁有限公司 有限责任公司 68300065-8 沈正东 大连 汽车租赁。 500 500 100上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 5 -

    七、 合并财务报表范围 – 续

    组织 本集团年末 本集团合计

    名称 企业类型 机构代码 法人代表 注册地点 经营范围 注册资本 实际投资额 持股比例

    人民币万元 人民币万元 %

    －通过同一控制下的企业合并取得的子公司(续)

    上海锦茂汽车销售服务有限公司 (注2) 有限责任公司 784784332 龚文凯 上海 销售汽车(不含小轿车)，汽车配件，日用百货；汽车修 1,020 510 50

    理(一类) (汽修修理)，汽车内装饰。(涉及行政许可的

    凭许可证经营)。

    上海锦用汽车维修服务有限公司 有限责任公司 79707667-7 韩汇田 上海 汽车配件的销售(小型车辆维修)，汽车装潢、开发、 1,000 800 80

    技术咨询、技术服务、技术转让。(涉及行政许可的

    凭行政许可证经营)。

    上海南浦大桥食品批发交易

    市场经营管理有限公司 有限责任公司 76474583-8 丁志良 上海 为本市场内农副产品商品经营者提供市场管理服务。(以 30 30 100

    上范围涉及许可经营的凭许可证经营)。

    上海吴泾冷藏有限公司 一人有限责任公司 133306740 何为光 上海 储运：食品(不含熟食)，货物储运，代客理货中转， 5,000 9,453 100

    (法人独资) 商务信息咨询(除经纪)，(涉及行政许可的凭许可证经营)。

    (涉及许可经营的凭许可经营证经营)

    上海吴淞罗吉冷藏有限公司 一人有限责任公司 133401000 岑建荣 上海 道路货物运输(本单位普通货物)：在港区内从事货物装 825 825 100

    (法人独资) 卸、仓储经营；储运(含冷冻(冷藏)食品)；五金加工；

    货物存储；本单位空余场地出租。

    －通过非同一控制下的企业合并取得的子公司

    上海锦江耀华出租汽车有限公司 一人有限责任公司 132407486 余国富 上海 客运服务，停车站，汽车配件、日用百货销售 222 222 100

    (法人独资) (涉及许可经营的凭许可证经营)。

    本期处置之子公司

    上海日冷食品有限公司(注3) 中外合资 607241011 王叶萍 上海 生产、销售加工的冷冻食品，包括中式点心、 日币 784 50

    蔬菜、家禽、肉制品、水产加工食品及其他加工食品 41,000 万元

    除注1、注2 外，本集团享有的表决权比例与持股比例一致。

    注1：根据与其他投资者的协议，本集团拥有实际控制权，因此将其纳入合并财务报表的合并范围。

    注2：根据公司章程规定，本集团享有表决权比例大于50%，因此将其纳入合并财务报表的合并范围。

    注3：本期处置之子公司于本期年初及处置日的财务状况及年初至处置日的经营成果及现金流量情况详见附注八、43

    除附注九及附注十、(5)外均为合并报表附注。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 6 -

    八、 合并财务报表项目附注

    1. 货币资金

    2009 年6 月30 日 年初数

    原币金额 折算汇率 人民币元 原币金额 折算汇率 人民币元

    现金

    人民币 576,109.95 1.0000 576,109.95 394,422.06 1.0000 394,422.06

    银行存款

    人民币 664,262,810.74 1.0000 664,262,810.74 609,200,437.63 1.0000 609,200,437.63

    美元 - - - 1,564.49 6.8346 10,692.66

    日元 - - __________-_ __ 276.88 0.0757 _________2_0_.9_6_

    合 计 6__6__4__,__8__3__8__,9__2__0__.__6__9__ __6__0__9__,6__0__5__,__5__7__3__.3__1__

    2. 应收账款

    应收账款账龄分析如下：

    账龄 2009 年6 月30 日 年初数

    金额 比例(%) 坏账准备 账面价值 金额 比例(%) 坏账准备 账面价值

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    1 年以内 47,703,066.96 100 391,427.12 47,311,639.84 42,346,487.23 100 391,427.12 41,955,060.11 ____________________________ ____________ ________________________ __________________________ ____________________________ __________ __________________________ ____________________________

    应收账款按客户类别划分，均为其他不重大的款项。

    欠款金额前五名情况如下：

    前五名欠款总额 账龄 占应收账款总额比例

    人民币元 %

    11,763,601.11 一年以内 24.7

    应收账款中无应收持有本集团5%(含5%)以上表决权股份的股东单位款项。

    应收账款坏账准备本期无变动。

    3. 预付款项

    预付款项账龄分析如下：

    2009 年6 月30 日 年初数

    账龄 金额 比例 金额 比例

    人民币元 % 人民币元 %

    1 年以内 5__6__,__1__2__5__,4__1__0__.__5__4__ __1__0__0__ ____5__3__,__9__2__9__,0__4__9__.__1__3 __1__0__0__

    预付款项按客户类别披露如下：

    类别 2009年6 月30 日 年初数

    人民币元 人民币元

    单项金额重大的款项 37,543,843.23 39,919,804.07

    其 他不重大的款项 1__8_,5_8__1_,5_6__7_.3_1_ 1_4__,0_0_9__,2_4_5__.0_6_

    合 计 5____6__,1__2____5__,4__1____0__.5__4__ 5__3____,9__2__9____,0__4__9____.1__3__

    预付款项中无预付持有本集团5%(含5%)以上表决权股份的股东单位款项。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 7 -

    八、 合并财务报表项目附注 – 续

    4. 应收股利

    2009 年6 月30 日 年初数

    一年以内： 人民币元 人民币元

    上海振东汽车服务有限公司 - 5,626,095.18

    上海金茂锦江汽车服务有限公司 2,500,000.00 4,000,000.00

    上海永达风度汽车销售服务有限公司 - 1,096,000.00

    上海大众新亚出租汽车有限公司 10,375,059.47 -

    上海日产汽车维修中心 8,220.08 -

    上 海锦江佳友汽车服务有限公司 ___3_,3_2_1_,_2_0_8_.7_0_ __________- ___

    合 计 ____1__6__,2__0__4__,__4__8__8__.2__5__ __1____0__,7__2__2__,0____95____.1__8__

    5. 其他应收款

    其他应收款账龄分析如下：

    2009 年6 月30 日 年初数

    金额 比例(%) 坏账准备 账面价值 金额 比例(%) 坏账准备 账面价值

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    1 年以内 22,257,924.92 95 11,254.42 22,246,670.50 24,201,913.88 95 11,254.42 24,190,659.46

    1 至2 年 888,971.28 4 - 888,971.28 1,247,171.28 4 - 1,247,171.28

    2 至3 年 224,009.21 1 - 224,009.21 248,109.21 1 - 248,109.21

    3 年以上 ____1_2_3_,_1_0_0_._0_0 ____- _________-_ __ ____1_2_3_,_1_0_0_._0_0 _____1_3_3_,3__5_4_.6_0_ ___-_ __________-_ __ _____1_3_3_,3_5__4_.6_0_

    合 计 __2__3__,__4__9__4__,__0__0__5__.__4__1 __1__0__0__ ________1__1__,__2__5__4__.__4__2 __2__3__,__4__8__2__,__7__5__0__.__9__9 ____2__5__,__8__3__0__,5____4__8__.9__7__ __1__0__0__ __________1__1__,2____5__4__.4__2__ ____2__5__,__8__1__9__,2__9__4____.5__5__

    其他应收款按类别披露如下：

    2009 年6 月30 日 年初数

    类别 金额 比例(%) 坏账准备 账面价值 金额 比例(%) 坏账准备 账面价值

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    单项金额重大的款项 - - - - - - - -

    其 他不重大的款项 _2_3_,_4_9_4_,_0_0_5_._4_1 _1_0_0_ ____1_1_,_2_5_4_._4_2 _2_3_,_4_8_2_,_7_5_0_._9_9 __2_5_,_8_3_0_,5__4_8_.9_7_ _1_0_0_ _____1_1_,2__5_4_.4_2_ __2_5_,_8_1_9_,2_9_4__.5_5_

    合 计 __2__3__,__4__9__4__,__0__0__5__.__4__1 __1__0__0__ ________1__1__,__2__5__4__.__4__2 __2__3__,__4__8__2__,__7__5__0__.__9__9 ____2__5__,__8__3__0__,5____4__8__.9__7__ __1__0__0__ __________1__1__,2____5__4__.4__2__ ____2__5__,__8__1__9__,2__9__4____.5__5__

    其他应收账款坏账准备本期无变动。

    欠款金额前五名情况如下：

    前五名欠款总额 账龄 占其他应收款总额比例

    人民币元 %

    7,641,201.35 一年以内 32.5

    其他应收款余额中无应收持有本集团5%(含5%)以上表决权股份的股东单位款项。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 8 -

    八、 合并财务报表项目附注 – 续

    6. 存货

    类别 2009 年6 月30 日 年初数

    人民币元 人民币元

    库存商品 22,215,711.52 36,138,295.17

    备品备件 7,431,981.66 7,933,658.10

    物料用品 2,142,028.81 2,521,874.60

    食品饮料及其他 __1_,_3_1_8_,8_7_1_._9_0_ __1_,_7_5_0_,_3_9_4_.7_7_

    小计 33,108,593.89 48,344,222.64

    减：减值准备 __________- ___ __________-_ __

    存货总计 __3__3__,__1__0__8__,5__9__3__.__8__9__ ____4__8__,3__4__4__,__2__2__2__.6__4__

    7. 其他流动资产

    类别 2009 年6 月30 日 年初数

    人民币元 人民币元

    持有待售之长期资产—固定资产 ______________________-__ ____ __5__,__0__6__7__,4__9__6__.__1__6__

    8. 可供出售金融资产

    类别 2009 年6 月30 日 年初

    公允价值 公允价值

    人民币元 人民币元

    可供出售权益工具 ____1__5__1__,7__7__6__,__3__8__6__.8__8__ ____9__0____,0__8__6__,0__1__0___._0__3__

    9. 投资性房地产

    房屋建筑物 土地使用权 合计

    人民币元 人民币元 人民币元

    原值

    年 初数及2009 年6 月30 日余额 __2_7_,_20_1_,_94_6_._7_1 __1_2_,_94_6_,_77_4_._8_0 __4_0_,1_4_8_,7_2_1_.5_1_

    累计折旧及累计摊销

    年初数 3,763,241.17 519,644.52 4,282,885.69

    本 期计提额 _____25_5_,_5_25_._1_2 _____13_0_,_35_4_._5_0 ____3_8_5_,8_7_9_.6_2_

    2 009 年6 月30 日 ___4_,_01_8_,_76_6_._2_9 _____64_9_,_99_9_._0_2 ___4_,6_6_8_,7_6_5_.3_1_

    减值准备

    年初数及2009 年6 月30 日余额 __________- __ __________- __ _________-_ __

    净额

    年 初数 ____2__3__,__43__8__,__70__5__.__5__4 ____1__2__,__42__7__,__13__0__.__2__8 ____3__5__,8__6__5__,8__3__5__.8__2__

    2 009 年6 月30 日余额 ____2__3__,__18__3__,__18__0__.__4__2 ____1__2__,__29__6__,__77__5__.__7__8 ____3__5__,4__7__9__,9__5__6__.2__0__上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -2 9 -

    八、 合并财务报表项目附注 – 续

    10. 长期股权投资

    (1)长期股权投资详细情况如下：

    初始 本期 本期

    被投资公司名称 投资额 年初数 权益调整 现金股利 2009 年6 月30 日

    人民币元 人民币元 人民币元 人民币元 人民币元

    按权益法核算

    上海日产汽车维修中心 5,643,011.57 5,637,906.38 57,345.57 (8,220.08) 5,687,031.87

    万国机动车驾驶培训中心 42,105,806.17 42,744,628.22 56,800.63 (2,780,000.00) 40,021,428.85

    上海市机动车驾驶员培训中心 33,105,611.21 33,298,922.05 1,409,972.76 (5,000,000.00) 29,708,894.81

    上海振东汽车服务有限公司 21,211,895.00 30,114,226.35 2,769,872.54 (1,500.00) 32,882,598.89

    上海金茂锦江汽车服务有限公司 16,940,000.00 27,112,582.30 1,798,286.26 - 28,910,868.56

    上海大众新亚出租汽车有限公司 84,628,129.42 98,874,008.02 7,360,245.54 (10,375,059.47) 95,859,194.09

    上海锦海捷亚国际货运有限公司 40,254,477.70 147,617,202.02 3,669,653.71 - 151,286,855.73

    上海永达风度汽车销售服务有限公司 6,000,000.00 9,914,593.78 531,312.31 - 10,445,906.09

    上海永达二手车经营有限公司 4,500,000.00 4,398,655.56 (39,313.75) - 4,359,341.81

    上海锦江客运有限公司 3,000,000.00 7,123,876.40 1,243,559.45 (2,604,958.82) 5,762,477.03

    上海锦江汽车销售服务有限公司 1,500,000.00 2,569,309.48 350,202.57 (580,521.93) 2,338,990.12

    上海锦江佳友汽车服务有限公司 14,614,900.00 23,315,289.88 2,556,524.00 (4,321,208.70) 21,550,605.18

    上海锦江佘山汽车服务有限公司 500,000.00 7,025,904.21 780,124.65 (1,275,387.39) 6,530,641.47

    上海石油集团长乐加油站有限公司 150,000.00 581,509.37 57,196.24 - 638,705.61

    江苏南京长途汽车客运集团有限公司 25,300,000.00 29,802,450.99 1,884,960.73 (2,783,000.00) 28,904,411.72

    上海浦东国际机场货运站有限公司 63,130,065.07 185,487,766.25 21,860,935.66 (83,557,701.17) 123,791,000.74

    世联锦江物流有限公司 ____3_,_0_1_2_,6_7_5_._0_0 ___________-_ __ ___________-_ __ _ _________- ____ ___________-_ __

    小计 __3_6_5_,_5_9_6_,5_7_1_._1_4 __6_5_5_,6_1_8_,_8_3_1_.2_6_ ___4_6_,3_4_7_,_6_7_8_.8_7_ _(1_1_3_,_2_8_7_,5_5_7_._5_6_) __5_8_8_,6_7_8_,_9_5_2_.5_7_

    按成本法核算

    上海东锦江大酒店有限公司 16,555,237.81 16,555,237.81 - - 16,555,237.81

    上海寰球纸制品有限公司 746,253.00 746,253.00 - - 746,253.00

    国泰君安证券股份有限公司 47,649,967.00 47,649,967.00 - - 47,649,967.00

    国泰君安投资管理股份有限公司 31,974,279.24 31,974,279.24 - - 31,974,279.24

    上海国嘉实业股份有限公司 650,000.00 650,000.00 - - 650,000.00

    山东国泰股份有限公司 555,000.00 555,000.00 - - 555,000.00

    上海长途客运南站有限公司 7,500,000.00 7,500,000.00 - - 7,500,000.00

    上海新世纪运输有限公司 2,240,000.00 2,240,000.00 - - 2,240,000.00

    天津华联商厦股份有限公司 468,000.00 468,000.00 - - 468,000.00

    上海万国汽车修理厂(注) ____6_,_9_0_2_,5_3_7_._5_6 ____4_,8_3_3_,_4_2_6_.6_2_ ___________-_ __ __ _________- ____ ____4_,_8_3_3_,4_2_6_._6_2

    小计 __1_1_5_,_2_4_1_,2_7_4_._6_1 __1_1_3_,1_7_2_,_1_6_3_.6_7_ ___________-_ __ ____ _______- ____ __1_1_3_,1_7_2_,_1_6_3_.6_7_

    合计 ____4__8__0__,__8__3__7__,8__4__5__.__7__5 768,790,994.93 ______4__6__,3__4__7__,__6__7__8__.8__7__ __(1__1__3__,__2__8__7__,5__5__7__.__5__6__)__ 701,851,116.24

    减：减值准备 ____4_,9_1_9_,_2_5_3_.0_0_ ____4_,_9_1_9_,2_5_3_._0_0

    长期股权投资净额 ____7__6__3__,8__7__1__,__7__4__1__.9__3__ ____6__9__6__,__9__3__1__,8__6__3__.__2__4

    注：上海万国汽车修理厂的清算已接近尾声，预计可收回投资金额不低于账面价值。

    长期股权投资减值准备变动如下：

    被投资公司名称 年初数及2009 年6 月30 日

    人民币元

    上海寰球纸制品有限公司 746,253.00

    国泰君安投资管理股份有限公司 2,500,000.00

    上海国嘉实业股份有限公司 650,000.00

    天津华联商厦股份有限公司 468,000.00

    山东国泰股份有限公司 __ ___55_5_,_00_0_._00_ _

    合 计 ______4__,__91__9__,__25__3__.__00__ __上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -3 0 -

    八、 合并财务报表项目附注 – 续

    10. 长期股权投资 – 续

    (2)合营企业及联营企业清单及其主要财务信息

    占被投资 被投资 被投资 被投资单位 被投资

    被投资 单位注册 单位年末 单位年末 本期营业 单位本期

    单位名称 注册地 业务性质 注册资本 资本的比例 资产总额 负债总额 收入总额 净利润

    人民币万元 人民币元 人民币元 人民币元 人民币元

    合营企业

    上海振东汽车服务

    有限公司 上海 中外合资 790万美元 50.00% 78,010,344.70 12,245,146.99 22,723,269.95 6,161,046.04

    上海金茂锦江汽车

    服务有限公司 上海 有限责任公司 2,200 50.00% 76,502,829.29 22,277,664.75 20,078,231.11 3,596,572.49

    上海大众新亚出租

    汽车有限公司 上海 有限责任公司 3,000 49.50% 209,914,169.48 55,908,853.72 65,560,493.91 15,358,588.58

    上海锦海捷亚国际

    货运有限公司 上海 中外合资 1,000万美元 50.00% 507,357,246.37 211,075,003.84 800,061,937.84 7,339,307.43

    上海锦江佳友汽车

    服务有限公司 上海 有限责任公司 2,470 50.00% 66,117,722.37 23,016,512.01 24,573,443.87 5,113,048.00

    其他合营企业(共3 家) 97,971,609.16 13,877,603.97 25,890,645.09 3,429,359.48

    联营企业

    江苏南京长途汽车客运

    集团有限公司 南京 有限责任公司 11,000 23.00% 725,841,255.01 480,406,308.78 170,979,346.34 8,195,481.43

    上海浦东国际机场

    货运站有限公司 上海 有限责任公司 19,161 20.00% 112,893,8791.20 509,983,777.51 265,600,384.41 109,304,678.32

    世联锦江物流

    有限公司 上海 有限责任公司 1,000 万美元 25.00% 1,171,651.98 8,331,209.71 0.00 (4,236,401.37)

    其他联营企业(共6 家) 292,230,861.96 122,880,802.26 375,690,894.20 14,626,646.08

    除上海大众新亚出租汽车有限公司外，本集团享有的表决权比例与持股比例一致。根据

    公司章程，本集团对上海大众新亚出租汽车有限公司的表决权比例为50%。

    (3)本集团于2009 年6 月30 日持有的长期股权投资之被投资单位向本集团转移资金的能力

    未受到限制。

    11. 固定资产

    电子设备、

    房屋建筑物 机器设备 器具及家具 营运车辆 运输设备 酒店改造 合计

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    原值

    年初数 153,306,927.82 81,143,637.06 23,926,627.97 1,500,026,371.43 14,329,795.10 3,766,821.31 1,776,500,180.69

    本期购置 520,110.72 781,197.00 214,239.92 8,911,401.18 575,569.50 39,784.00 11,042,302.32

    本期在建工程转入 - 375,160.00 2,718.00 102,421,554.10 - - 102,799,432.10

    因处置子公司而减少 - (37,800,243.76) - - (1,578,229.68) - (39,378,473.44)

    本期减少额 ____(6_6_9_,_2_6_4_.3_1_) ___(_9_9_,2_5_0_._5_2_) __________-_ __ _(_1_3_5_,5_4_1_,_0_2_9_.6_2_) __________-_ __ _________-_ __ __(1_3_6_,_3_0_9_,5_4_4_._4_5_)

    2009 年6 月30 日 _1_5_3_,1_5_7_,_7_7_4_.2_3_ 4_4_,_4_0_0_,4_9_9_._7_8_ __2_4_,1_4_3_,_5_8_5_.8_9_ 1_,_4_7_5_,8_1_8_,_2_9_7_.0_9_ __1_3_,3_2_7_,_1_3_4_.9_2_ __3_,8_0_6_,_6_0_5_.3_1_ _1_,_7_1_4_,6_5_3_,_8_9_7_.2_2_

    累计折旧

    年初数 48,337,491.02 53,730,196.96 16,352,790.56 842,669,049.81 6,706,851.32 1,028,613.95 968,824,993.62

    本期计提额 3,511,104.36 1,905,107.52 1,424,254.99 98,170,919.28 592,957.31 395,296.67 105,999,640.13

    因处置子公司而减少 - (29,718,328.41) - - (1,164,939.14) - (30,883,267.55)

    本期减少额 ____(6_6_9_,_2_6_4_.3_1_) ___(_1_2_,4_0_5_._8_0_) __________-_ __ _(_1_2_2_,9_9_6_,_9_7_4_.4_0_) __________-_ __ _________-_ __ __(1_2_3_,_6_7_8_,6_4_4_._5_1_)

    2009 年6 月30 日 __5_1_,1_7_9_,_3_3_1_.0_7_ 2_5_,_9_0_4_,5_7_0_._2_7_ __1_7_,7_7_7_,_0_4_5_.5_5_ __8_1_7_,8_4_2_,_9_9_4_.6_9_ ___6_,1_3_4_,_8_6_9_.4_9_ __1_,4_2_3_,_9_1_0_.6_2_ ___9_2_0_,2_6_2_,_7_2_1_.6_9_

    减值准备

    年初数及2009 年6 月30 日 ___1_,9_8_0_,_4_4_4_.8_7_ ____7_4_,9_7_4_._3_4_ _____3_8_,_9_8_2_.7_2_ ___________-_ __ __________-_ __ _________-_ __ _____2_,0_9_4_,_4_0_1_.9_3_

    净额

    年初数 __1__0__2__,9__8__8__,__9__9__1__.9__3__ 2__7__,__3__3__8__,4__6__5__.__7__6__ ______7__,5__3__4__,__8__5__4__.6__9__ ____6__5__7__,3__5__7__,__3__2__1__.6__2__ ______7__,6__2__2__,__9__4__3__.7__8__ ____2__,7__3__8__,__2__0__7__.3__6__ ______8__0__5__,5__8__0__,__7__8__5__.1__4__

    2009 年6 月30 日 ____9__9__,9__9__7__,__9__9__8__.2__9__ 1__8__,__4__2__0__,9__5__5__.__1__7__ ______6__,3__2__7__,__5__5__7__.6__2__ ____6__5__7__,9__7__5__,__3__0__2__.4__0__ ______7__,1__9__2__,__2__6__5__.4__3__ ____2__,3__8__2__,__6__9__4__.6__9__ ______7__9__2__,2__9__6__,__7__7__3__.6__0__

    注：截至2009 年6 月30 日止，净值为人民币11,024,717.56 元(年初数：人民币12,155,966.74

    元)的房屋建筑物尚未办理产权证明。净值为人民币5,040,136.96 元(年初数：人民币

    5,196,275.20 元)的房屋建筑物的产权人在产权证明中尚未更新，仍为锦江低温物流

    黄浦分公司的前身原上海尚海食品有限公司。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -3 1 -

    八 、 合并财务报表项目附注 – 续

    12. 在建工程

    本期完工

    项目名称 年初数 本期增加额 转入固定资产 2009年6月30日 资金来源

    人民币元 人民币元 人民币元 人民币元

    未达使用状态之车辆 275,320.00 105,495,949.10 (102,421,554.10) 3,349,715.00 自筹

    其他 ___2_,0_8_7_,_1_8_0_.0_0_ ___1_,5_7_9_,_5_5_6_.0_6_ ____(3_7_7_,_8_7_8_.0_0_) __3_,2_8_8_,_8_5_8_.0_6_ 自筹

    合 计 2,362,500.00 __1__0__7__,0__7__5__,__5__0__5__.1__6__ (__1__0__2__,7__9__9__,__4__3__2__.1__0__) 6,638,573.06

    减：减值准备 __________-_ __ _________-_ __

    在 建工程净值 ______2__,3__6__2__,__5__0__0__.0__0__ ____6__,6__3__8__,__5__7__3__.0__6__

    13. 无形资产

    土地使用权 出租车营运牌照 合计

    人民币元 人民币元 人民币元

    原值

    年初数及2009 年6 月30 日余额 __9_5_,2_7_1_,_8_1_9_.2_0_ __4_8_,_7_9_6_,4_3_1_._3_5 _1_4_4_,_0_6_8_,2_5_0_._5_5

    累计摊销

    年初数 2,498,072.08 6,030,352.12 8,528,424.20

    本 期计提额 ____5_3_9_,_7_9_0_.0_6_ __________-_ __ _____5_3_9_,7_9_0_._0_6

    2009 年6 月30 日余额 ___3_,0_3_7_,_8_6_2_.1_4_ ___6_,_0_3_0_,3_5_2_._1_2 ___9_,_0_6_8_,2_1_4_._2_6

    减值准备

    年初数及2009 年6 月30 日余额 __________-_ __ __________-_ __ __________-_ __

    净额

    年 初数 ____9__2__,7__7__3__,__7__4__7__.1__2__ ____4__2__,__7__6__6__,0__7__9__.__2__3 __1__3__5__,__5__3__9__,8__2__6__.__3__5

    2009 年6 月30 日余额 ____9__2__,2__3__3__,__9__5__7__.0__6__ ____4__2__,__7__6__6__,0__7__9__.__2__3 __1__3__5__,__0__0__0__,0__3__6__.__2__9

    剩余摊销年限 26年-无期限 无期限

    土地使用权中有账面价值人民币42,106,800.00 元系划拨用地，因划拨用地土地证中未明确

    使用年限，故未予摊销。其中价值人民币14,230,400.00 元的土地证产权人尚未更新，仍为

    锦江低温物流黄浦分公司的前身原上海尚海食品有限公司。

    14. 递延所得税资产

    可抵扣暂时性差异 递延所得税资产

    项目 2009 年6 月30 日 年初数 2009 年6 月30 日 年初数

    人民币元 人民币元 人民币元 人民币元

    资产减值准备 4,451,253.00 4,451,253.00 1,112,813.25 1,112,813.25

    其他 _2_,_6_0_5_,7_5_1_._4_0 _2_,_7_1_2_,3_5_5_._6_4 ___6_5_1_,6_4_1_._2_7 ___6_7_8_,2_9_2_._3_3

    合计 __7__,__0__5__7__,0__0__4__.__4__0 __7__,__1__6__3__,6__0__8__.__6__4 __1__,__7__6__4__,4__5__4__.__5__2 __1__,__7__9__1__,1__0__5__.__5__8

    以下可抵扣时间性差异和可抵扣亏损未确认递延所得税资产：

    2009 年6 月30 日 年初数

    人民币元 人民币元

    可抵扣亏损 4,036,635.62 4,036,635.62

    可 抵扣暂时性差异 ___2_,4_9_7_,_0_8_3_.4_7_ __2_,_4_9_7_,0_8_3__.4_7_

    合 计 ______6__,5__3__3__,__7__1__9__.0__9__ ____6__,__5__3__3__,7__1__9____.0__9__上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -3 2 -

    八、 合并财务报表项目附注 – 续

    15. 其他非流动资产

    项目 年初数及2009 年6 月30 日

    人民币元

    预付投资款(注1) 15,262,988.76

    应收长期垫付款(注2) 16,922,667.24

    减 ：一年内到期的非流动资产 __4_,2_3__0_,6_6__6_.6_7_

    合 计 __2__7__,__9__5__4__,__9__8__9__.__3__3

    注1： 其中人民币15,262,988.76 元系预付国泰君安证券股份有限公司的投资款。

    注2： 系无偿为上海浦东国际机场货运站有限公司垫付的货运站建筑物、设备和场地租赁的

    租金共计人民币50,768,000.00 元。该款项由上海浦东国际机场货运站有限公司按12

    年进行等额分期偿还。

    16. 资产减值准备

    项目 年初数及2009 年6 月30 日

    人民币元

    坏账准备 402,681.54

    长期股权投资减值准备 4,919,253.00

    固 定资产减值准备 __2_,0_9__4_,4_0__1_.9_3_

    合 计 __7__,__4__1__6__,__3__3__6__.__4__7__

    17. 短期借款

    2009 年6 月30 日 年初数

    人民币元 人民币元

    票据贴现 - 20,000,000.00

    信 用借款 __________-_ __ ___5_,0_0_0_,0_0_0_.0_0_

    合 计 ____________________-__ ____ ____2__5__,0__0__0__,0__0__0__.0__0__

    18. 应付账款

    应付账款中无应付持有本集团5%(含5%)以上表决权股份的股东单位或关联方的款项。

    19. 预收款项

    预收账款中无预收持有本集团5%(含5%)以上表决权股份的股东单位或关联方的款项。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -3 3 -

    八、 合并财务报表项目附注 – 续

    20. 应付职工薪酬

    项目 年初数 本期计提 本期支付 2009 年6 月30 日

    人民币元 人民币元 人民币元 人民币元

    工资、奖金、津贴和补贴 7,557,563.88 108,975,773.37 82,248,501.11 34,284,836.14

    职工福利费 30,094,216.96 2,072,573.61 5,221,679.45 26,945,111.12

    社会保险费 8,783,803.72 55,059,069.97 54,654,352.80 9,188,520.89

    其中：医疗保险费 2,453,668.22 16,473,766.64 16,271,917.23 2,655,517.63

    基本养老保险费 5,503,965.38 34,151,595.66 33,995,145.00 5,660,416.04

    失业保险费 654,736.22 3,458,236.93 3,452,158.73 660,814.42

    工伤保险费 86,495.00 487,735.37 467,565.92 106,664.45

    生育保险费 84,938.90 487,735.37 467,565.92 105,108.35

    住房公积金 173,661.50 9,754,418.75 8,752,173.25 1,175,907.00

    工会经费和职工教育经费 10,852,914.50 932,488.91 1,115,495.94 10,669,907.47

    因解除劳动关系给予的补偿 - 3,213,336.00 1,899,205.00 1,314,131.00

    内退职工补助 14,287,613.94 - 848,000.84 13,439,613.10

    退 休职工补助 __1_0_,7_1_7_,_5_8_8_.4_8_ __________-_ __ ____9_7_4_,4_3_2_._4_0_ ___9_,7_4_3_,_1_5_6_.0_8_

    合 计 ____8__2__,4__6__7__,__3__6__2__.9__8__ __1__8__0__,0__0__7__,__6__6__0__.6__1__ 1__5__5__,__7__1__3__,8__4__0__.__7__9__ 1__0__6__,__7__6__1__,1__8__2__.__8__0__

    21. 应交税费

    2009 年6 月30 日 年初数

    人民币元 人民币元

    所得税 26,829,719.07 16,495,272.04

    增值税 68,062.04 (148,063.59)

    营业税 3,220,104.15 3,527,204.05

    其 他 ____3_,1_0_9_,3_3_6_.1_6_ ____3_,4_7_7_,5_5_8_._27_

    合 计 ______3__3__,2__2__7__,2__2__1__.4__2__ ______2__3__,3__5__1__,9__7__0__.__77__

    22. 应付股利

    2009 年6 月30 日 年初数 原因

    人民币元 人民币元

    原法人股股利 21,013,630.45 21,338,065.35 尚未领取

    少 数股东股利 ___4_7_,5_6_5_,8_5_9_.3_4_ ___1_3_,_71_2_,_78_3_._9_4 尚未支付

    合 计 ______6__8__,5__7__9__,4__8__9__.7__9__ ______3__5__,__05__0__,__84__9__.__2__9

    23. 其他应付款

    性质 2009 年6 月30 日 年初数

    人民币元 人民币元

    押金及保证金 109,038,676.77 111,345,188.39

    重组欠款 39,821,129.93 39,821,129.93

    其 他 ___11_7_,_01_3_,_33_4_._9_4 __1_1_8_,0_0_6_,5_0_9_.2_3_

    合 计 ____2__6__5__,__87__3__,__14__1__.__6__4 ____2__6__9__,1__7__2__,8__2__7__.5__5__

    其中，账龄超过一年的主要系押金、保证金及重组欠款。

    其他应付款中应付持有本集团5%(含5%)以上表决权股份的股东单位或关联方的款项情况如下：

    股东名称 2009 年6 月30 日 年初数

    人民币元 人民币元

    锦 江国际(集团)有限公司 ______________________- ____ ________3__,__0__0__0,__0__0__0.__0__0上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -3 4 -

    八、 合并财务报表项目附注 – 续

    24. 递延所得税负债

    暂时性差异项目 应纳税暂时性差异 递延所得税负债

    2009 年6 月30 日 年初数 2009 年6 月30 日 年初数

    人民币元 人民币元 人民币元 人民币元

    可供出售金融资产 __1__3__4__,__6__2__4__,8__2__7__.__3__0 ____6__9__,__3__5__7__,7__9__0__.__2__4 __3__3__,__6__5__6__,2__0__6__.__8__1 __1__7__,__3__3__9__,4__4__7__.__8__2

    25. 其他非流动负债

    类别 2009 年6 月30 日 年初数

    人民币元 人民币元

    动迁补偿款 28,793,301.92 28,793,301.92

    动迁安置费 22,791,069.72 23,068,643.92

    递 延收益 ___4_,1_4_7_,_5_0_0_.0_0_ __4_,4_1_0_,_0_0_0_.0_0_

    ____5__5__,7__3__1__,__8__7__1__.6__4__ __5__6__,2__7__1__,__9__4__5__.8__4__

    26. 股本

    本公司注册及实收股本计 551,610,107股，每股面值1元，股份种类及其结构如下:

    2009年上半年度

    年初数(股) 本期增减(股) 2009 年6 月30 日(股)

    一、有限售条件的流通股份

    1 、国有法人持股 ___1_8_5_,_0_0_5_,9_5_5_ ____(2_7_,_5_8_0_,5__0_5 ) __1_5_7_,_4_2_5_,4_5_0_

    有 限售条件的流通股合计 ___1_8_5_,_0_0_5_,9_5_5_ ____(2_7_,_5_8_0_,5__0_5 ) __1_5_7_,_4_2_5_,4_5_0_

    二、无限售条件的流通股份

    1、人民币普通股(A 股) 205,554,120 27,580,505 233,134,625

    2 、境内上市的外资股(B 股) ___1_6_1_,_0_5_0_,0_3_2_ _____________- __1__6_1_,0_5_0_,_0_3_2

    无 限售条件的流通股份合计 ___3_6_6_,_6_0_4_,1_5_2_ _____2_7_,5_8_0_,_5_0_5 __3_9_4_,_1_8_4_,6_5_7_

    三 、股份总额 ______5__5__1__,__6__1__0__,1__0__7__ __________________________- ______5__5__1__,6__1__0__,__1__0__7

    2007年2月13日本集团第一次安排有限售条件(仅限股改形成)的流通股上市，上市数量为

    113,304,788股，占本集团总股份比例为20.54%。

    2008年2月13日本集团第二次安排有限售条件(仅限股改形成)的流通股上市，上市数量为

    35,795,572股，占本集团总股份比例为6.49%。

    2009年2月13日本集团第三次安排有限售条件(仅限股改形成)的流通股上市，上市数量为

    27,580,505股，占本集团总股份比例为5.00%。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -3 5 -

    八、 合并财务报表项目附注 – 续

    27. 资本公积

    项目 年初数 本期增加数 本期减少数 2009年6月30日

    人民币元 人民币元 人民币元 人民币元

    股本溢价 266,218,226.90 - - 266,218,226.90

    其中：股东投入的资本 266,218,226.90 - - 266,218,226.90

    其他资本公积 170,833,451.34 48,873,559.87 130,913.41 219,576,097.80

    其中： 分步实现的非同一控制

    下企业合并调整 5,805,597.08 - - 5,805,597.08

    被投资单位除净损益外所有者

    权益其他变动 7,220.00 - - 7,220.00

    可供出售金融资产公允价值

    变动产生的利得或损失 51,778,068.74 48,873,559.87 130,913.41 100,520,715.20

    原制度资本公积转入 _1_1_3_,2_4_2_,_5_6_5_.5_2_ _________-_ __ ________-_ _ _1_1_3_,_2_4_2_,5_6_5_._5_2

    合 计 __4__3__7__,0__5__1__,__6__7__8__.2__4__ __4__8__,__8__7__3__,5__5__9__.__8__7 ____1__3__0__,9__1__3__.__4__1 __4__8__5__,__7__9__4__,3__2__4__.__7__0

    28. 盈余公积

    项目 法定盈余公积 任意盈余公积 合 计

    人民币元 人民币元 人民币元

    年初余额 172,910,048.76 10,684,636.00 183,594,684.76

    本 期计提 _2_3_,_4_8_1_,3_9_0_._8_7 _________-_ __ _2_3_,_4_8_1_,3_9_0_._8_7

    2 009 年6 月30 日余额 1__9__6__,__3__9__1__,4__3__9__.__6__3 __1__0__,6__8__4__,__6__3__6__.0__0__ 2__0__7__,__0__7__6__,0__7__5__.__6__3

    法定盈余公积可用于弥补公司的亏损，扩大公司生产经营或转增公司股本。

    29. 未分配利润

    2009年上半年度 2008 年度

    人民币元 人民币元

    年初未分配利润 621,386,177.73 550,330,570.41

    加：本期净利润 140,341,179.71 323,105,516.48

    减：分步实现的非同一控制下企业合并调整 - 648,658.86

    减 ：提取法定盈余公积 (1) ___2_3_,4_8_1_,_3_9_0_.8_7_ __3_0_,_7_5_7_,2_0_7_._5_0

    可供股东分配的利润 738,245,966.57 842,030,220.53

    减：应付股利—股东大会

    已批准的上年度现金股利 (2) __1_6_5_,4_8_3_,_0_3_2_.1_0_ _2_2_0_,_6_4_4_,0_4_2_._8_0

    年 末未分配利润 ____5__7__2__,7__6__2__,__9__3__4__.4__7__ __6__2__1__,__3__8__6__,1__7__7__.__7__3

    其中：资产负债表日后决议分配的利润 - 165,483,032.10

    (1) 提取法定盈余公积

    根据公司章程规定，法定盈余公积按净利润之10%提取。公司法定盈余公积累计额为公司注册

    资本50%以上的，可不再提取。

    (2) 资产负债表日后决议的利润分配情况

    经股东大会批准，2008 年度现金红利人民币165,483,032.10 元（按已发行之股份551,610,107 股

    计算，以每股0.30 元(含税)向全体股东派发现金红利），在本期转入应付股利，并已全额支付。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    八、 合并财务报表项目附注 – 续

    30. 少数股东权益

    本集团子公司少数股东权益如下：

    2009 年6 月30 日 年初数

    人民币元 人民币元

    锦江汽车 126,932,820.25 128,643,175.38

    物流管理 50,621,999.50 76,236,216.12

    锦 江低温物流 ____________-_ __ __1_0__,3_0_1__,8_5_1__.3_4_

    合 计 __1__7____7__,5__5____4__,8__1____9__.7__5__ __2__1__5____,1__8__1____,2__4__2____.8__4__

    31. 营业收入

    2009 年1 月1 日至 2008 年1 月1 日至

    项目 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    主营业务 764,696,209.76 806,986,974.55

    其中：车辆营运业务 492,390,681.17 490,929,262.59

    汽车销售业务 224,527,231.20 240,997,871.21

    酒店及相关业务 9,817,732.30 9,820,714.96

    低温物流及相关业务 37,960,565.09 65,239,125.79

    其他业务 ____1_4_,4_8_7_,_2_4_5_.1_1_ ___1_4_,_5_7_0_,2_2_8_._0_5

    合 计 ______7__7__9__,1__8__3__,__4__5__4__.8__7__ ____8__2__1__,__5__5__7__,2__0__2__.__6__0

    前五名客户营业收入总额为34,673,663.74元(上年同期累计数：40,158,904.00元)，占营业收入比例为报告

    4%(上年同期：5%)。

    32. 营业成本

    2009 年1 月1 日至 2008 年1 月1 日至

    项目 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    主营业务 555,081,324.79 598,967,509.09

    其中：车辆营运业务 322,697,657.08 328,918,416.72

    汽车销售业务 210,781,682.69 226,104,081.64

    酒店及相关业务 1,735,461.68 1,760,243.42

    低温物流及相关业务 19,866,523.34 42,184,767.31

    其他业务 _____2_,5_7_2_,_1_0_8_.8_7_ ____2_,_5_7_4_,2_5_2_._7_3

    合 计 ______5__5__7__,6__5__3__,__4__3__3__.6__6__ ____6__0__1__,__5__4__1__,7__6__1__.__8__2

    33. 营业税金及附加

    2009 年1 月1 日至 2008 年1 月1 日至

    税种 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    营业税 18,068,762.14 18,707,424.26

    城市维护建设税 1,195,445.22 874,632.27

    教育费附加 ______5_4_2_,6_2_9_._1_5 _____3_9_7_,_4_3_2_.4_0_

    合计 ______1__9__,8__0__6__,__8__3__6__.5__1__ ______1__9__,9__7__9__,__4__8__8__.9__3__上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    八、 合并财务报表项目附注 – 续

    34. 财务费用

    项目 2009 年1 月1 日至 2008 年1 月1 日至

    6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    利息支出 2,301,412.59 1,338,424.50

    减：利息收入 4,392,445.75 3,523,660.42

    汇兑损失(收益) 128,555.25 (775,275.88)

    其 他 ___6_8_4_,_3_7_9_.7_3_ ____2_1_4_,9_7_6_._7_0

    合 计 __(__1__,2__7__8__,__0__9__8__.1__8__) __(__2__,__7__4__5__,5__3__5__.__1__0 )

    35. 投资收益

    项目 2009 年1 月1 日至 2008 年1 月1 日至

    6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    按成本法核算的被投资单位宣告分派利润 15,361,153.69 26,166,566.79

    按权益法确认收益 46,347,678.87 87,253,920.19

    处置长期投资股权收益 3,698,148.66 -

    可供出售金融资产收益 17,630,900.37 8,837,214.18

    其 他 __________-_ __ ___1_,_7_7_5_,5_6_0_._1_7

    合 计 ____8__3__,0__3__7__,__8__8__1__.5__9__ __1__2__4__,__0__3__3__,2__6__1__.__3__3

    本集团的投资收益汇回不存在重大限制

    36. 营业外收入

    项目 2009 年1 月1 日至 2008 年1 月1 日至

    6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    处置固定资产净利得 7,811,215.40 9,216,889.77

    政府补助(详见附注八39) 4,814,811.33 6,734,056.01

    其 他 _____3_,_6_9_1_._3_0_ ____4_1_1_,_2_2_6_._5_7

    合 计 1__2__,__6__2__9__,__7__1__8__.__0__3__ __1__6__,__3__6__2__,__1__7__2__.__3__5

    37. 营业外支出

    项目 2009 年1 月1 日至 2008 年1 月1 日至

    6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    固定资产报废净损失 106,711.48 185,987.86

    其 他 ____4_0_,_2_3_2_.1_6_ ____2_2_,9_2_2_._0_0_

    合 计 ______1__4__6__,__9__4__3__.6__4__ ______2__0__8__,9__0__9__.__8__6__上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -3 8 -

    八、 合并财务报表项目附注 – 续

    38. 所得税

    2009 年1 月1 日至 2008 年1 月1 日至

    项目 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    当期所得税费用 22,556,012.94 22,390,889.12

    递 延所得税费用 ____2_6_,_6_5_1_._0_6_ _____3_8_,_1_3_2_._6_0

    合 计 2__2__,__5__8__2__,__6__6__4__.__0__0__ __2__2__,__4__2__9__,__0__2__1__.__7__2

    39. 政府补助

    2009 年1 月1 日至 2008 年1 月1 日至

    6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    收到的与收益相关的政府补助

    财政返还 938,968.17 509,248.00

    优惠乘车补贴 1,397,950.83 2,579,908.01

    油价补贴 1,615,392.33 2,308,600.00

    线路优化补贴 - 1,336,300.00

    其 他财政拨款 ___6_0_0_,_0_0_0_.0_0_ ________-_ __

    合 计 ____4__,5__5__2__,__3__1__1__.3__3__ __6__,7__3__4__,__0__5__6__.0__1__

    计 入当期损益的政府补助 ____4__,8__1__4__,__8__1__1__.3__3__ __6__,7__3__4__,__0__5__6__.0__1__

    40. 每股收益

    计算基本每股收益时，归属于普通股股东的当期净利润为：

    本期累计数 上年同期累计数

    人民币元 人民币元

    归属于普通股股东的当期净利润 __1__4__0__,__3__4__1__,1__7__9__.__7__1 __1__7__5__,2__8__5__,__4__0__2__.8__3__

    计算基本每股收益时，分母为发行在外普通股加权平均数，计算过程如下：

    本期累计数及上年同期累计数

    年初发行在外的普通股股数及

    本期末发行在外的普通股加权数 ____5__5__1__,6__1__0__,__1__0__7

    注：本集团于2009 年6 月30 日不存在稀释性潜在普通股。

    每股收益 本期累计数 上年同期累计数

    人民币元 人民币元

    按归属于母公司股东的净利润计算：

    基本每股收益 0.254 0.318

    稀 释每股收益 ________________不____适____用_ ______________不____适____用____上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    八、 合并财务报表项目附注 – 续

    41. 扣除非经常性损益后的净利润

    本期累计数 上年同期累计数

    人民币元 人民币元

    净利润 155,545,555.33 207,386,209.41

    加(减)：非经常性损益项目

    —非流动资产处置损益 (11,402,652.58) (9,030,901.91)

    —计入当期损益的政府补贴 (3,416,860.50) (6,734,056.01)

    —处置金融资产取得的投资收益 (17,630,900.37) (8,837,214.18)

    —除上述各项之外的其他营业外收支净额 36,540.86 (388,304.57)

    非经常性损益的所得税影响数 ____6_,4_9__0_,5_4__0_.2_6_ ___6__,2_4_7__,6_1_9__.1_7_

    扣 除非经常性损益后的净利润 __1__2____9__,6__2____2__,2__2____3__.0__0__ __1__8__8____,6__4__3____,3__5__1____.9__1__

    其中：归属于母公司股东的净利润 114,860,631.23 157,143,047.26

    归属于少数股东的净利润 14,761,591.77 31,500,304.65

    42. 现金流量表补充资料

    本期累计数 上年同期累计数

    人民币元 人民币元

    (1)将净利润调节为经营活动现金流量：

    净利润 155,545,555.33 207,386,209.41

    加：固定资产及投资性房地产折旧 106,385,519.75 122,408,594.67

    无形资产摊销 539,790.06 670,144.56

    长期待摊费用摊销 6,477.90 6,477.90

    处置固定资产、无形资产和其他

    长期资产的损失(减收益) (7,704,503.92) (9,030,901.91)

    财务费用 2,301,412.59 1,338,424.50

    投资损失(减收益) (83,037,881.59) (124,033,261.33)

    递延所得税资产减少(减增加) 26,651.06 38,132.60

    存货的减少(减增加) 15,235,628.75 (10,366,387.80)

    经营性应收项目的减少(减增加) (5,206,690.40) 30,616,243.46

    经营性应付项目的增加(减减少) __3_0_,2_1_2_,_4_6_9_.4_7_ __4_7_,_0_9_4_,9_9_0_._0_8

    经营活动产生的现金流量净额 __2__1__4__,3__0__4__,__4__2__9__.0__0__ __2__6__6__,__1__2__8__,6__6__6__.__1__4

    (2)现金及现金等价物净变动情况：

    现金的期末余额 664,838,920.69 585,792,980.93

    减：现金的期初余额 _6_0_9_,6_0_5_,_5_7_3_.3_1_ _4_1_4_,_1_6_4_,2_3_5_._7_0

    现金及现金等价物净增加额 ____5__5__,2__3__3__,__3__4__7__.3__8__ __1__7__1__,__6__2__8__,7__4__5__.__2__3上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    八、 合并财务报表项目附注 – 续

    43. 处置子公司

    本集团于本期将下述出售（已出售子公司的详细情况见附注七），因此未将其纳入2009 年6

    月30 日的合并资产负债表的合并范围内。已出售之子公司于出售日和2008 年12 月31 日

    的财务状况如下表所示，已出售子公司自2009 年1 月1 日至出售日止期间并无重大经营成

    果。

    已出售之子公司于出售日及2008 年12 月31 日的财务状况如下表所示：

    2008 年12 月31 日及出售日

    人民币元

    上海日冷食品有限公司

    流动资产 26,593,673.94

    非流动资产 8,495,205.89

    流 动负债 _(1_4_,_4_8_5_,_1_7_7_.1_4_)

    股 东权益合计 ____2__0__,6__0__3__,__7__0__2__.6__9__

    其中：归属于母公司股东的权益 10,301,851.35

    归属于少数股东的权益 10,301,851.34

    本期处置子公司有关现金流量信息

    金额

    人民币元

    处置子公司的价格 14,000,000.00

    处置子公司收到的现金和现金等价物 14,000,000.00

    减：子公司持 有的现金和现金等价物 __1_2_,6_0_5_,_6_9_5_.3_7_

    处置子公司所 收到的现金净额 _____1__,_3__9__4__,_3__0__4__._6__3__上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -4 1 -

    八、 合并财务报表项目附注 – 续

    44. 分部报告

    因为风险和报酬主要受产品和劳务差异影响，本集团将业务分部作为主要报告形式，由于本集团95%以上业务和经营资产均在上海，故无

    地区分部。

    (1)主要报告形式－业务分部

    车辆营运业务 汽车销售业务 酒店及相关业务 低温物流业务 未分配项目 合计

    本期累计数 上年同期累计数 本期累计数 上年同期累计数 本期累计数 上年同期累计数 本期累计数 上年同期累计数 本期累计数 上年同期累计数 本期累计数 上年同期累计数

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    营业收入

    对外交易收入 492,390,681.17 490,929,262.59 224,527,231.20 240,997,871.21 9,817,732.30 9,820,714.96 37,960,565.09 65,239,125.79 14,487,245.11 14,570,228.05 779,183,454.87 821,557,202.60

    分布间交易收入 _________-_ _ ________- __ ___________- __ _________-_ __ __________-_ _ _________-_ _ _________-_ __ ________-_ _ ________-_ _ ________-_ _ _________- __ ________-_ __

    营业收入合计 492,390,681.17 490,929,262.59 224,527,231.20 240,997,871.21 9,817,732.30 9,820,714.96 37,960,565.09 65,239,125.79 14,487,245.11 14,570,228.05 779,183,454.87 821,557,202.60

    ______________________ ____________________ __________________________ ________________________ ________________________ ______________________ ________________________ ____________________ ____________________ ____________________ ______________________ ______________________

    营业费用 88,693,783.65 78,871,017.15 9,224,349.92 8,777,932.48 10,145,864.34 9,807,102.61 11,003,686.98 12,836,766.40 38,229.28 114,425.90 119,105,914.17 110,407,244.54

    ______________________ ____________________ __________________________ ________________________ ________________________ ______________________ ________________________ ____________________ ____________________ ____________________ ______________________ ______________________

    营业利润 91,051,384.19 92,454,387.41 2,294,671.34 3,807,168.76 (2,557,256.08) (1,291,525.81) 9,016,746.72 8,025,737.42 65,839,898.77 110,666,200.86 165,645,444.94 213,661,968.64

    ______________________ ____________________ __________________________ ________________________ ________________________ ______________________ ________________________ ____________________ ____________________ ____________________ ______________________ ______________________

    分部会计政策与合并财务报表会计政策一致。

    分部间转移交易以实际交易价格为基础计量。分部收入和分部费用按各分部的实际收入和费用确定。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

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    九、 母公司财务报表主要项目注释

    1. 应收账款

    应收账款账龄分析如下：

    账龄 2009 年6 月30 日 年初数

    金额 比例(%) 坏账准备 账面价值 金额 比例(%) 坏账准备 账面价值

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    1 年以内 __________4__1__9__,__5__5__8__.__5__9 ______1__0__0__ ________1__,__0__1__3__.__3__8__ ______4__1__8__,__5__4__5__.__2__1__ __________1__5__8__,__9__2__0__.5____8 ____1__0__0__ __________1__,__0__1__3__.__3__8__ ________1__5__7__,__9__0__7__.2____0__

    应收账款按客户类别划分，均为其他不重要的款项。

    欠款金额前五名情况如下：

    前五名欠款总额 账龄 占应收账款总额比例

    人民币元 %

    417,717.09 一年以内 99.6%

    应收账款中无应收持有本公司5%(含5%)以上股份的股东的款项。

    2. 其他应收款

    其他应收款账龄分析如下：

    2009 年6 月30 日 年初数

    金额 比例(%) 坏账准备 账面价值 金额 比例(%) 坏账准备 账面价值

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    1 年以内 387,584.93 1 - 387,584.93 3,947,374.01 9 - 3,947,374.01

    1 至2 年 - - - - 18,184,500.00 41 - 18,184,500.00

    2 至3 年 _4_0_,_1_8_4_,_6_0_0_._0_0 __9_9_ _________-_ __ _4_0__,1_8_4_,_6_0_0_._0_0 __2_2_,_0_0_0_,1__0_0_.0_0_ __5_0_ __________-_ __ __2_2_,_0_0_0_,1_0__0_.0_0_

    合 计 __4__0__,__5__7__2__,__1__8__4__.__9__3 __1__0__0__ __________________-__ ____ __4__0____,5__7__2__,__1__8__4__.__9__3 ____4__4__,__1__3__1__,9____7__4__.0__1__ __1__0__0__ ____________________-__ ____ ____4__4__,__1__3__1__,9__7____4__.0__1__

    其他应收款按类别披露如下：

    2009 年6 月30 日 年初数

    类别 金额 比例(%) 坏账准备 账面价值 金额 比例(%) 坏账准备 账面价值

    人民币元 人民币元 人民币元 人民币元 人民币元 人民币元

    单项金额重大的款项 40,369,204.03 99 - 40,369,204.03 43,211,517.97 98 - 43,211,517.97

    其 他不重大的款项 ____2_0_2_,_9_8_0_._9_0 ___1_ _________-_ __ ____2_0_2_,_9_8_0_._9_0 _____9_2_0_,4__5_6_.0_4_ ___2_ __________-_ __ _____9_2_0_,4_5__6_.0_4_

    合 计 __4__0__,__5__7__2__,__1__8__4__.__9__3 __1__0__0__ __________________-__ ____ __4__0____,5__7__2__,__1__8__4__.__9__3 ____4__4__,__1__3__1__,9____7__4__.0__1__ __1__0__0__ ____________________-__ ____ ____4__4__,__1__3__1__,9__7____4__.0__1__

    欠款金额前五名情况如下：

    前五名欠款金额 账龄 占其他收账款总额比例

    人民币元 %

    184,704.03 1年以内 0.46

    40,184,500.00 2至3年 99.04

    其他应收款余额中无应收持有本公司5%以上表决权股份的股东的款项。

    3. 可供出售金融资产

    2009 年6 月30 日 年初数

    类别 公允价值 公允价值

    人民币元 人民币元

    可 供出售权益工具 ____1__2__6__,9__0__6__,1__1__3__.5__1__ ______7__7__,2__8__3__,4__6__6__.4__6__上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -4 3 -

    九、 母公司财务报表主要项目注释 – 续

    4. 长期股权投资

    (1) 长期股权投资详细情况如下：

    初始 本期 本期

    被投资公司名称 投资额 年初数 权益调整 现金股利 2009 年6 月30 日

    人民币元 人民币元 人民币元 人民币元 人民币元

    按权益法核算

    上海大众新亚出租汽车有限公司 84,628,129.42 98,874,008.04 7,360,245.54 (10,375,059.47) 95,859,194.11

    上海锦海捷亚国际货运有限公司 40,254,477.70 147,617,202.02 3,669,653.71 - 151,286,855.73

    世联锦江物流有限公司 ____3_,_0_1_2_,6_7_5_._0_0 ___________-_ __ ___________-_ __ _ _________- ____ ___________-_ __

    小计 __1_2_7_,_8_9_5_,2_8_2_._1_2 __2_4_6_,4_9_1_,_2_1_0_.0_6_ ___1_1_,0_2_9_,_8_9_9_.2_5_ _ (1_0_,_3_7_5_,0_5_9_._4_7_)_ __2_4_7_,1_4_6_,_0_4_9_.8_4_

    按成本法核算

    上海锦海捷亚物流管理有限公司 52,000,000.00 52,000,000.00 - - 52,000,000.00

    上海锦江汽车服务有限公司 538,135,811.60 538,135,811.60 - - 538,135,811.60

    上海锦江国际低温物流有限公司 95,000,000.00 95,000,000.00 - - 95,000,000.00

    上海东锦江大酒店有限公司 16,555,237.81 16,555,237.81 - - 16,555,237.81

    上海寰球纸制品有限公司 746,253.00 746,253.00 - - 746,253.00

    国泰君安证券股份有限公司 47,649,967.00 47,649,967.00 - - 47,649,967.00

    国泰君安投资管理股份有限公司 31,974,279.24 31,974,279.24 - - 31,974,279.24

    上海国嘉实业股份有限公司 650,000.00 650,000.00 - - 650,000.00

    山东国泰股份有限公司 ______5_5_5_,0_0_0_._0_0 _____5_5_5_,_0_0_0_.0_0_ ___________-_ __ __ _________- ____ ______5_5_5_,0_0_0_.0_0_

    小计 __7_8_3_,_2_6_6_,5_4_8_._6_5 __7_8_3_,2_6_6_,_5_4_8_.6_5_ ___________-_ __ ____ _______- ____ __7_8_3_,2_6_6_,_5_4_8_.6_5_

    合计 ____9__1__1__,__1__6__1__,8__3__0__.__7__7 1,029,757,758.71 ______1__1__,0__2__9__,__8__9__9__.2__5__ ____(1__0__,__3__7__5__,0__5__9__.__4__7__)__ 1,030,412,598.49

    减：减值准备 ____4_,4_5_1_,_2_5_3_.0_0_ ____4_,_4_5_1_,2_5_3_._0_0

    长期股权投资净额 1__,__0__2__5__,3__0__6__,__5__0__5__.7__1__ __1__,0__2__5__,__9__6__1__,3__4__5__.__4__9

    长期股权投资减值准备变动如下：

    被投资公司名称 年初数及2009 年6 月30 日

    人民币元

    上海寰球纸制品有限公司 746,253.00

    国泰君安投资管理股份有限公司 2,500,000.00

    上海国嘉实业股份有限公司 650,000.00

    山东国泰股份有限公司 ____5_5_5_,_0_0_0_.0_0_

    合计 ______4__,4__5__1__,__2__5__3__.0__0__

    (2) 本公司于2009 年6 月30 日持有的长期股权投资之被投资单位向本公司转移资金的能力

    未受到限制。

    5. 营业收入和营业成本

    2009 年1 月1 日 2008 年1 月1 日

    6 月30 日止期间 6 月30 日止期间

    营业收入 营业成本 营业收入 营业成本

    人民币元 人民币元 人民币元 人民币元

    酒店及相关业务 __9__,__8__1__7__,7__3__2__.__3__0 1__,7__3__5__,__4__6__1__.6__8__ 1__1__,0__5__1__,__6__2__6__.8__2__ __1__,9__8__1__,__4__2__1__.6__6__

    前五名客户营业收入总额为816,845.33元(上年度同期累计数：1,204,627.00元)，占营业收入

    比例为8%(上年同期：11%)。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -4 4 -

    九、 母公司财务报表主要项目注释 – 续

    6. 投资收益

    2009 年1 月1 日至 2008 年1 月1 日至

    项目 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    按成本法核算的被投资单位宣告分派利润 212,050,771.16 262,473,819.90

    按权益法确认收益 11,029,899.25 15,382,939.18

    处置可供出售金融资产收益 17,626,139.46 8,837,214.18

    其他 __________-_ __ ___1_,_7_7_5_,5_6_0_._1_7

    合 计 __2__4__0__,7__0__6__,__8__0__9__.8__7__ __2__8__8__,__4__6__9__,5__3__3__.__4__3

    7. 现金流量表补充资料

    2009 年1 月1 日至 2008 年1 月1 日至

    项目 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    (1)将净利润调节为经营活动现金流量：

    净利润 234,813,908.73 284,810,951.86

    加：资产减值准备 - -

    固定资产及投资性房地产折旧 1,793,327.27 1,792,807.24

    无形资产摊销 18,372.00 18,372.00

    处置固定资产、无形资产和其他

    长期资产的损失(减收益) - -

    投资损失(减收益) (240,706,809.87) (288,469,533.43)

    递延所得税资产减少(减增加) 26,651.06 38,132.60

    存货的减少 36,697.20 2,206.32

    经营性应收项目的减少(减增加) 3,298,251.03 7,853,550.56

    经营性应付项目的增加(减减少) __(3_,_2_5_7_,3_7_4_._2_2_) __(_4_,2_4_8_,_6_1_7_.9_5_)

    经营活动产生的现金流量净额 ____(3__,__9__7__6__,9__7__6__.__8__0__) ______1__,7__9__7__,__8__6__9__.2__0__

    (2)现金及现金等价物净变动情况：

    现金的期末余额 326,394,657.96 148,947,345.02

    减：现金的期初余额 2_6_0_,_2_6_2_,8_9_2_._6_2_ _1_7_3_,1_5_1_,_1_5_6_.9_8_

    现金及现金等价物净增加额 __6__6__,__1__3__1__,7__6__5__.__3__4__ __(__2__4__,2__0__3__,__8__1__1__.9__6__)

    十、 关联方关系及其交易

    (1)存在控制关系的关联方

    法人 企业 组织机构 持股

    关联方名称 代表 类型 代码 注册地址 业务性质 注册资本 比例

    人民币千元

    锦江国际(集团)有限 俞敏亮 有限责任 13222031-2 中国上海 国有资产经营与管理，企 2,000,000 38.54%

    公司(“锦江集团”) 公司(国 业投资及管理，饭店管理，

    有独资) 游乐业配套服务，国内贸

    易，物业管理，自有办

    公楼、公寓租赁，产权纪

    经及相关项目咨询。

    锦江集团享有的表决权比例与持股比例一致。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -4 5 -

    十、关联方关系及其交易– 续

    (2)子公司相关信息详见附注七所述。

    (3)与本集团发生交易但不存在控制关系的其他关联方如下：

    关联方关系

    上海锦江旅游有限公司 控股股东之子公司

    上海锦江国际酒店物品有限公司 控股股东之子公司

    上海旅行社有限公司 控股股东之子公司

    上海国旅国际旅行社股份有限公司 控股股东之子公司

    上海食品(集团)有限公司 控股股东之子公司

    上海华亭海外旅游公司 控股股东之子公司

    上海锦江国际旅游股份有限公司 控股股东之子公司

    锦江之星旅馆有限公司 控股股东之子公司

    锦江国际集团(香港)有限公司 控股股东之子公司

    以上各公司统称锦江集团下属公司

    关联方关系

    上海万国汽车修理厂 子公司之子公司注1

    上海锦海捷亚国际货运有限公司 合营企业

    上海金茂锦江汽车服务有限公司 子公司之合营公司

    上海锦江汽车销售服务有限公司 子公司之联营公司

    上海石油集团长乐路加油站有限公司 子公司之联营公司

    上海锦江客运有限公司 子公司之联营公司

    上海永达风度汽车销售服务有限公司 子公司之联营公司

    上海浦东国际机场货运站有限公司 子公司之联营公司

    注1：参见附注八、10(1)注。

    (4)本集团与关联方在本期度发生了如下重大关联交易：

    (a)定价原则

    根据本集团与各关联方签定的有关综合服务协议、产品购销合同等协议的规定定价。

    (b)销售、运费收入及采购

    向关联方销售、提供营运服务及采购货物有关明细资料如下：

    2009 年1 月1 日至 2008 年1 月1 日至

    关联方名称 性 质 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    锦江集团下属公司 车辆营运业务收入 5,216,403.00 3,725,075.00

    酒店及相关业务收入 _________- ___ _________-_ __

    __5__,__2__1__6__,4__0__3__.__0__0__ ____3__,7__2__5__,__0__7__5__.0__0__

    锦江集团下属公司 采购物品 - 75,550.00

    上 海锦江汽车销售服务有限公司 采购物品 __1_,_0_9_2_,3_9_9__.3_0_ __1_,0_9_3_,_4_8_6_.1_6_

    ____1__,__0__9__2__,3__9__9____.3__0__ ____1__,1__6__9__,__0__3__6__.1__6__

    (c)向关联方购置、出售资产有关明细资料如下：

    2009 年1 月1 日至 2008 年1 月1 日至

    关联方名称 性 质 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    上海锦江汽车销售服务有限公司 购置固定资产 __4__1__,__4__9__6__,9__2__3__.__0__8__ ____8__,2__8__3__,__4__0__0__.0__0__上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -4 6 -

    十、关联方关 系及其交易 – 续

    (4)本集团与关联方在本期度发生了如下重大关联交易– 续

    (d)资金拆借

    与关联方之间的资金拆借明细资料如下：

    年利率 本期净发生额 2009 年6 月30 日余额 上年净发生额 年初余额

    借出-其他应收款 人民币元 比例 人民币元 比例 人民币元 比例 人民币元 比例

    上海金茂锦江汽车

    服务有限公司 6.72 (3,500,000.00) 100 - - 3,500,000.00 - 3,500,000.00 17

    上海浦东国际机场

    货运站有限公司 - ______- _ ____- 1_6_,92_2_,6_67_.2_4 _10_0 _(4_,2_30_,6_66_.6_7 ) __- 1_6_,92_2_,6_67_.2_4 __8_3

    (__3__,50__0__,0__00__.0__0) ______10__0 1__6__,92__2__,6__67__.2__4 __10__0 ____(7__30__,6__66__.6__7 ) 1__0__0 2__0__,42__2__,6__67__.2__4 __ 1__0__0

    (e)其他交易

    2009 年1 月1 日至 2008 年1 月1 日至

    关联方名称 性 质 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    所支付之费用

    锦江集团 房屋租赁费 1,558,116.00 587,802.00

    锦 江集团下属公司 管理费用 __1_3_1_,_9_4_1_.1_6_ ____1_3_7_,7_8_1_._0_5

    __1__,6__9__0__,__0__5__7__.1__6__ ______7__2__5__,__5__8__3__.0__5__

    应支付给锦江集团及其下属公司的管理费以酒店经营收入的2%和酒店经营利润的3%计算加总，

    作为其提供服务的酬劳，服务包括一般行政、市场推广及采购等。

    2009 年1 月1 日至 2008 年1 月1 日至

    关联方名称 性 质 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    所收取之收入

    上海锦江汽车销售服务有限公司 房租收入 - 834,180.00

    上 海石油集团长乐路加油站有限公司 房租收入 ________-_ __ ____1_0_0_,0_0_0_._0_0

    ________________-__ ____ ____ __9__3__4__,__1__8__0__.0__0__

    (f)债权债务往来情形

    科 目 关联方名称 2009 年6 月30 日 年初数

    人民币元 人民币元

    应 收账款 锦江集团下属公司 ______1__,0__3__1__,__2__5__6__.6__7__ __________7__4__5__,7__8__6__.__3__9

    其他应收款 上海金茂锦江汽车服务有限公司 - 3,548,950.00

    上海锦海捷亚国际货运有限公司 - 700,000.00

    上海锦江客运有限公司 __________-_ __ _______1_,3_8_8_._0_0

    ____________________-__ ____ ______4__,__2__5__0__,3__3__8__.__0__0

    预付款项 锦江集团下属公司 25,200.00 24,300.00

    上海锦江汽车销售服务有限公司 __3_7_,5_4_3_,_8_4_3_.2_3_ __2_3_,_9_1_6_,8_9_4_._9_2

    ____3__7__,5__6__9__,__0__4__3__.2__3__ ____2__3__,__9__4__1__,1__9__4__.__9__2

    其 他非流动资产 上海浦东国际机场货运站有限公司 ____1__6__,9__2__2__,__6__6__7__.2__4__ ____1__6__,__9__2__2__,6__6__7__.__2__4上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -4 7 -

    十、关联方关 系及其交易 – 续

    (4)本集团与关联方在本期度发生了如下重大关联交易– 续

    (f)债权债务往来情形 – 续：

    科 目 关联方名称 2009 年6 月30 日 年初数

    人民币元 人民币元

    应付账款 锦江集团下属公司 22,350.00 -

    上海永达风度汽车销售有限公司 ___6_,6_0_8_,_8_0_7_.0_1_ __________-_ __

    ______6__,6__3__1__,__1__5__7__.0__1__ ____________________-__ ____

    其他应付款 锦江集团 - 3,000,000.00

    锦江集团下属公司 39,821,129.93 43,522,138.03

    上海锦江客运有限公司 106,831.75 2,450,170.06

    上海万国汽车修理厂 __1_8_,5_8_5_,_2_3_1_.2_1_ __1_8_,_5_8_5_,2_3_1_._2_1

    ____5__8__,5__1__3__,__1__9__2__.8__9__ ____6__7__,__5__5__7__,5__3__9__.__3__0

    (5)母公司与关联方在本期发生了如下重大关联交易：

    (a)定价原则

    根据本集团与各关联方签定的有关综合服务协议、产品购销合同等协议的规定定价。

    (b)销售及采购

    本公司向关联方销售及采购货物有关明细资料如下：

    2009 年1 月1 日至 2008 年1 月1 日至

    关联方名称 性 质 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    采购

    锦江集团下属公司 采购物品 ____________________- ____ __________23__9__,__97__5__.__9__6

    (c)其他交易

    2009 年1 月1 日至 2008 年1 月1 日至

    关联方名称 性 质 6 月30 日止期间 6 月30 日止期间

    人民币元 人民币元

    应支付之费用

    锦江集团 房屋租赁费 58,116.00 587,802.00

    锦 江集团下属公司(注) 管理费用 __________1__3__1__,9__4__1__.__1__6 ________1__3__7__,__7__8__1__.0__5__

    注：支付给锦江集团及其下属公司的管理费以酒店经营收入的2%和酒店经营利润的

    4%计算加总，作为其提供服务的酬劳，服务包括一般行政、市场推广及采购等。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -4 8 -

    十、关联方关系及其交易 – 续

    (5)母公司与关联方在本期发生了如下重大关联交易– 续

    (d)债权债务往来情形

    科 目 关联方名称 2009 年6 月30 日 年初数

    人民币元 人民币元

    其他应收款 上海锦海捷亚物流管理有限公司 184,704.03 3,027,017.97

    上海锦江国际低温物流发展有限公司(注) 22,000,000.00 22,000,000.00

    上海吴淞罗吉冷藏有限公司(注) 18,184,500.00 18,184,500.00

    上海锦海捷亚国际货运有限公司 __________-_ __ _____7_0_0_,0_0_0_._0_0

    ____4__0__,3__6__9__,__2__0__4__.0__3__ ____4__3__,__9__1__1__,5__1__7__.__9__7

    预 付款项 锦江集团下属公司 __________2__5__,__2__0__0__.0__0__ ____________2__4__,3__0__0__.__0__0

    应 付账款 锦江集团下属公司 ____________________-__ ____ ____________________-__ ____

    其 他应付款 锦江集团下属公司 ____________________-__ ____ __________4__6__2__,5__8__7__.__0__7

    注：系对子公司的无息资金拆借。

    十一、金融工具及风险管理

    本集团的主要金融工具包括股权投资、借款、可供出售金融资产、应收账款、应付账款等，

    各项金融工具的详细情况说明见附注八。与这些金融工具有关的风险，以及本集团为降低

    这些风险所采取的风险管理政策如下所述。本集团管理层对这些风险敞口进行管理和监控

    以确保将上述风险控制在限定的范围之内。

    1. 风险管理目标和政策

    本集团从事风险管理的目标是在风险和收益之间取得适当的平衡，将风险对本集团经

    营业绩的负面影响降低到最低水平，使股东的利益最大化。基于该风险管理目标，本

    集团风险管理的基本策略是确定和分析本集团所面临的各种风险，建立适当的风险承

    受底线和进行风险管理，并及时可靠地对各种风险进行监督，将风险控制在限定的范

    围之内。

    1.1 市场风险

    1.1.1. 外汇风险

    外汇风险指因汇率变动产生损失的风险。本集团的主要业务活动以人民币计价结算，

    因此外汇风险对本集团的经营业绩不会产生重大影响。

    1.1.2. 其他价格风险

    本集团持有的分类为可供出售金融资产的投资在资产负债表日以公允价值计量。因

    此，本集团承担着证券市场变动的风险。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -4 9 -

    十一、金融工具及风险管理 - 续

    1. 风险管理目标和政策 - 续

    1.2. 信用风险

    2009 年6 月30 日，可能引起本集团财务损失的最大信用风险敞口主要来自于合同另

    一方未能履行义务而导致本集团金融资产产生的损失，具体包括：

    ?合并资产负债表中已确认的金融资产的账面金额；对于以公允价值计量的金融工

    具而言，账面价值反映了其风险敞口，但并非最大风险敞口，其最大风险敞口将

    随着未来公允价值的变化而改变。

    为降低信用风险，本集团控制信用额度、进行信用审批，并执行其他监控程序以确保

    采取必要的措施回收过期债权。此外，本集团于每个资产负债表日审核每一单项应收

    款的回收情况，以确保就无法回收的款项计提充分的坏帐准备。因此，本集团管理层

    认为本集团所承担的信用风险已经大为降低。

    本集团的流动资金存放在信用评级较高的银行，故流动资金的信用风险较低。

    本集团采用了必要的政策确保所有销售客户均具有良好的信用记录。本集团无重大信

    用集中风险。

    1.3. 流动风险

    流动风险是指企业在履行与金融负债有关的义务时遇到资金短缺的风险。管理流动风

    险时，本集团保持管理层认为充分的现金及现金等价物并对其进行监控，以满足本集

    团经营需要，并降低现金流量波动的影响。

    鉴于较低的资本负债率以及持续的融资能力，本集团相信其无重大流动性风险。

    于资产负债表日，除其他应付款中部分押金、保证金及重组欠款将于1 年后到期外，

    本集团其他金融资产和金融负债的到期日均在一年以内。

    2. 公允价值

    金融资产的公允价值按照下述方法确定：

    ?具有标准条款及条件并存在活跃市场的金融资产的公允价值参照相应的活跃市

    场现行出价及现行要价确定；

    ?其他金融资产及金融负债(不包括衍生工具)的公允价值按照未来现金流量折现法

    为基础的通用定价模型确定或采用可观察的现行市场交易价格确认。

    本集团管理层认为，财务报表中按摊余成本计量的金融资产及金融负债的账面价值接

    近该等资产的公允价值。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    -5 0 -

    十一、金融工具及风险管理 - 续

    3. 敏感性分析

    本集团采用敏感性分析技术分析风险变量可能发生的合理变化对当期损益或股东权

    益可能产生的影响。利率和汇率可能发生的合理变动对当期损益和权益的影响均不重

    大。股票市场价格的波动对股东权益的影响如下：

    项目 年末股价变动 对权益的影响

    人民币千元

    可供出售金融资产 上涨10% 11,336

    下跌10% (11,336)

    十二、或有事项

    1. 本期，子公司上海锦江汽车服务有限公司为上海永达风度汽车销售有限公司人民币1,600

    万元（2008年：人民币1,600万元）的短期借款提供担保。

    2. 本期，子公司上海锦江商旅汽车服务股份有限公司为上海长途客运南站有限公司人民币

    1,250万元（2008年：人民币1,250万元）的短期借款提供担保。

    十三、承诺事项

    租赁承诺

    截至资产负债表日，本集团对外签订的不可取消的经营租赁合约情况如下：

    2009年6 月30 日 年初数

    人民币千元 人民币千元

    不可撤销经营租赁的最低租赁付款额：

    资产负债表日后第1 年 8,470 8,278

    资产负债表日后第2 年 6,386 6,956

    资产负债表日后第3 年 6,423 6,102

    以后 年度 ____1_0_,2_0_8_ _______1_0_,5_6_6_

    合计 ________3__1__,4__8__7__ ______________3__1__,9__0__2__

    十四、资产负债表日后事项中的非调整事项

    截止资产负债表日，本集团不存在需要披露的重大非调整事项。

    十五、其他重要事项

    截止资产负债表日，本集团不存在需要披露的其他重要事项。

    十六、财务报表之批准

    本公司的公司及合并财务报表于2009 年8 月10 日已经本公司董事会批准。

    * * *财务报表结束* * *上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    51

    2009年6月30日止补充资料

    1. 扣除非经常性损益项目和金额

    单位：元 币种：人民币

    非 经 常 性 损 益 项 目 金 额

    政府补贴 3,416,860.50

    非流动资产处置损益 11,402,652.58

    处置交易性金融资产、交易性金融负债和可供出售金融资

    产取得的投资收益 17,630,900.37

    扣除资产减值准备后的其他各项营业外收入、支出 (36,540.86)

    所得税影响数 (6,490,540.26)

    少数股东权益影响数 (442,783.85)

    合 计 25,480,548.48

    2. 全面摊薄和加权平均计算后净资产收益率及每股收益

    本净资产收益率和每股收益计算表是上海锦江国际实业投资股份有限公司按照中国证券监督管理委

    员会颁布的《公开发行证券公司信息披露编报规则第09 号 – 净资产收益率和每股收益的计算及披

    露》(2007 年修订)的有关规定而编制的。

    报告期利润 净资产收益率 每股收益

    全面摊薄 加权平均 全面摊薄 加权平均

    归属于公司普通股

    公司普通股股东的净利润 7.72% 7.64% 0.254 0.254

    扣除非经常性损益后归属于

    公司普通股股东的净利润 6.32% 6.26% 0.208 0.208

    计算公式

    全面摊薄净资产收益率的计算公式如下：

    全面摊薄净资产收益率 = P÷E

    其中：P为归属于公司普通股股东的净利润或扣除非经常性损益后归属于公司普通股股东的净利润；E

    为归属于公司普通股股东的期末净资产。

    上述“归属于公司普通股股东的净利润”不包括少数股东损益金额；“扣除非经常性损益后归属于公司

    普通股股东的净利润”以扣除少数股东损益后的合并净利润为基础，扣除母公司非经常性损益（应考

    虑所得税影响）、各子公司非经常性损益（应考虑所得税影响）中母公司普通股股东所占份额；“归属

    于公司普通股股东的期末净资产”不包括少数股东权益金额。

    加权平均净资产收益率的计算公式如下:

    P

    加权平均净资产收益率 = --------------------------------------------------------------------

    E0+NP÷2+Ei×Mi÷M0-Ej×Mj÷M0±Ek×Mk÷M0

    其中：P 分别对应于归属于公司普通股股东的净利润、扣除非经常性损益后归属于公司普通股股东

    的净利润；

    NP 为归属于公司普通股股东的净利润；

    E0 为归属于公司普通股股东的期初净资产；

    Ei 为报告期发行新股或债转股等新增的、归属于公司普通股股东的净资产；

    Ej 为报告期回购或现金分红等减少的、归属于公司普通股股东的净资产；

    M0 为报告期月份数；

    Mi 为新增净资产下一月份起至报告期期末的月份数；

    Mj 为减少净资产下一月份起至报告期期末的月份数；

    Ek 为因其他交易或事项引起的净资产增减变动；

    Mk 为发生其他净资产增减变动下一月份起至报告期期末的月份数。上海锦江国际实业投资股份有限公司 2009 年上半年度财务报告

    52

    基本每股收益的计算公式如下:

    P P

    基本每股收益 = -------- = ---------------------------------------------------

    S S0+S1+Si×Mi÷M0-Sj×Mj÷M0-Sk

    其中： P 为归属于公司普通股股东的净利润或扣除非经常性损益后归属于普通股股东的净利润；

    S 为发行在外的普通股加权平均数；

    S0 为期初股份总数；

    S1 为报告期因公积金转增股本或股票股利分配等增加股份数；

    Si 为报告期因发行新股或债转股等增加股份数；

    Sj 为报告期因回购等减少股份数；

    Sk 为报告期缩股数；

    M0 报告期月份数；

    Mi 为增加股份下一月份起至报告期期末的月份数；

    Mj 为减少股份下一月份起至报告期期末的月份数。Shanghai Jin Jiang International Industrial

    Investment Co., Ltd

    600650 900914

    Semi-Annual Report 20092

    Contents

    I. Important Notice…………………………………………………………………….3

    II. Company Profile……………………………………………………………………4

    III. Changes in Share capital and Particulars about Shareholders……………………..6

    IV. Particulars about Directors, Supervisors and Superior Managers…………………9

    V. Report of the Board of Directors………………………………………………….10

    VI. Significant Events……………………………………………...………………12

    VII. Financial Report (Un-audited and attached)…………………………………….18

    VIII. Documents Available for Reference……………………………………………183

    I. Important Notice

    (I) The Board of Directors, the Supervisory Committee as well as directors,

    supervisors and senior executives of Shanghai Jin Jiang International Industrial

    Investment Co., Ltd (hereinafter referred to as “the Company”) hereby guarantee that

    there are no any omissions, fictitious or serious misleading statements carried in the

    report and will take all responsibilities, individual and joint for the authenticity,

    accuracy and integrity of the report.

    (II) All the directors were present at the meeting of Board of Directors.

    (III) The Semi-Annual Financial Report 2009 has not been audited.

    (IV) No capital occupied by the controlling shareholder and related parties of the

    Company.

    (V) There was no outward guarantee for others going against stated decision-making

    procedure.

    (VI) Chairman as well as person in charge of the Company Shen Maoxing, CEO Yang

    Yuanping, person in charge of accounting affirms as well as CFO Yuan Zhening and

    person in charge of accounting firm also being Chief Accountant Liu Chaohui declare

    to confirm that the Financial Report enclosed in this Semi-Annual Report is authentic

    and complete.

    (VII)This Semi-Annual Report was prepared in both Chinese and English. Should

    there be any difference in interpretation of the two versions, the Chinese version shall

    prevail.4

    II. Company Profile

    (I) Brief introduction of company profile

    1. Legal Name of Company

    In Chinese: 上海锦江国际实业投资股份有限公司

    Abbreviation in Chinese: 锦江投资

    In English: Shanghai Jin Jiang International Industrial Investment Co., Ltd.

    Abbreviation in English: JJTZ

    2. A-share: Listed in: Shanghai Stock Exchange

    Short Form of A-share: Jin Jiang Tou Zi

    Stock Code of A-share: 600650

    B-share: Listed in: Shanghai Stock Exchange

    Short Form of B-share: Jin Tou B

    Stock Code of B-share: 900914

    3. Registered Address: No.1, Pudong Avenue, Shanghai City

    Office Address: 28/F, No. 100, East Yan’an Road, Shanghai

    Post code: 200002

    Internet Website: http://www.jjtz.com

    E-mail: dshms@jjtz.com

    4. Legal Representative: Shen Maoxing

    5. Secretary to the Board of Directors: Yuan Zhening

    Tel: (021) 63218800

    Fax: (021) 63213119

    E-mail: dshms@jjtz.com

    Contact Address: 28/F, No. 100, East Yan’an Road, Shanghai

    Securities Affairs Representative: Huang Yuechong

    Tel: (021) 63218800

    Fax: (021) 63213119

    E-mail: zqdb@jjtz.com

    Contact Address: 28/F, No. 100, East Yan’an Road, Shanghai

    6. Newspaper Designated for Information Disclosure: Shanghai Securities News,

    Hong Kong Ta Kung Pao

    Website Designated for Publishing Semi-Annual Report: http://www.sse.com.cn

    Place Where the Annual Report is Prepared and Placed: 28/F, No. 100, East Yan’an

    Road, Shanghai

    (II) Main financial data and indices

    1. Main accounting data and financial indices

    Unit: RMB Yuan

    At the end of this

    report period

    At the period-end

    of last year

    Increase/decrease of the period-end

    compared with the end of last year (%)

    Total assets 2,693,242,672.03 2,662,829,897.87 1.14

    Owners’ equity (or shareholders’

    equity)

    1,817,243,441.80 1,793,642,647.73 1.32

    Net assets per share (Yuan) 3.294 3.252 1.295

    In the report

    period (Jan.-Jun.)

    The same period

    of last year

    Increase/decrease of this report period

    year-on-year (％)

    Operating profit 165,645,444.94 213,661,968.64 -22.47

    Total profit 178,128,219.33 229,815,231.13 -22.49

    Net profit 140,341,179.71 175,285,402.83 -19.94

    Net profit deducted non-recurring

    gain/loss

    114,860,631.23 157,143,047.26 -26.91

    Basic earnings per share (Yuan) 0.254 0.318 -20.13

    Basic earnings per share deducted

    non-recurring gain/loss (Yuan)

    0.208 0.285 -27.02

    Diluted earnings per share (Yuan) 0.254 0.318 -20.13

    Net return on equity (%) 7.72 10.46 -2.74

    Net cash flow from operating activities 214,304,429.00 266,128,666.14 -19.47

    Net cash flow from operating activities

    per share (Yuan)

    0.389 0.482 -19.29

    2. Items and amount of non-recurring gains and losses

    Unit: RMB Yuan

    Items Amount

    Gains and losses from disposal of non-current assets 11,402,652.58

    Government subsidies recorded into current gains and losses, excluding government subsidies with close

    relationship with the Company’s business and rationed government grants in line with the united standard

    3,416,860.50

    Investment income from disposal of transaction financial assets, transaction financial liabilities and

    financial assets available for sale

    17,630,900.37

    Other non-operating income and expense -36,540.86

    Impact on income tax -6,490,540.26

    Impact on minority shareholders’ equity -442,783.85

    Total 25,480,548.486

    III. Changes in Share capital and Particulars about Shareholders

    (I) Statement on changes in share capital

    On13 Feb. 2008, tradable shares subject to conditional sales amounting to 27,580,505

    shares listed to circulate for the third time. The change of share structure is as follows:

    Unit: Share

    Before the change Increase/decrease (+, - ) After the change

    Number

    Proport

    ion (%)

    Issuan

    ce of

    new

    shares

    Bon

    us

    shar

    es

    Capita

    lizatio

    n of

    public

    reserv

    e fund

    Other (listing of

    tradable shares

    subject to

    trading

    moratorium)

    Subtotal Number

    Propo

    rtion

    (%)

    I. Shares subject to

    conditional sales

    Shares held by the state

    corporation

    185,005,955 33.54 -27,580,505 -27,580,505 157,425,450 28.54

    Total of shares subject

    to conditional sales

    185,005,955 33.54 -27,580,505 -27,580,505 157,425,450 28.54

    II. Shares without

    conditional sales

    1. RMB ordinary shares 205,554,120 37.26 +27,580,505 +27,580,505 233,134,625 42.26

    2. Domestically listed

    foreign shares

    161,050,032 29.20 161,050,032 29.20

    Total of shares without

    conditional sales

    366,604,152 66.46 +27,580,505 +27,580,505 394,184,657 71.46

    III. Total shares 551,610,107 100 551,610,107 100

    (II) Introduction about shareholders and actual controller

    1. Number of shareholders and shares held

    Unit: Share

    Total number of shareholders at the end of the report period 70,992 (shareholders of B-share: 30,332)

    Particulars about shares held by the top ten shareholders

    Name of shareholders Nature of shareholders

    Proportio

    n of

    shares

    held (%)

    Total shares

    held

    Changes

    during the

    report period

    Shares subject

    to conditional

    sales held

    Shares

    pledged

    or

    frozen

    Jin Jiang International Holding Co., Ltd. State corporation 38.54 212,586,460 157,425,450 None

    China Construction Bank-ICBC Credit Suisse

    Selected Balanced Mixed Fund

    Other 1.29 7,140,672 6,090,722 Unknown

    Shanghai International Trust Co., Ltd. State corporation 0.73 4,017,848 -454,544 Unknown

    Cai Qingfeng Foreign natural person 0.71 3,894,935 Unknown

    Shanghai Jinjiang Hotel Co., Ltd. State corporation 0.68 3,761,493 Unknown

    VALUE PARTNERS CLASSIC FUND Foreign corporation 0.68 3,746,216 3,746,216 Unknown7

    Hu Jiaying Foreign natural person 0.65 3,571,786 168,000 Unknown

    China Construction Bank-Fortis Haitong

    Style Advantage Stock Fund

    Other 0.54 3,000,000 3,000,000 Unknown

    Shanghai Peace Hotel Co., Ltd State corporation 0.33 1,839,974 Unknown

    HTHK-VALUE PARTNERS INTELLIGENT

    FUNDS-CHINA B SHARE FUND

    Foreign corporation 0.33 1,801,863 -811,505 Unknown

    Particulars about shares without conditional sales held by the top ten shareholders

    Name of shareholders

    Shares without conditional

    sales held

    Type of share

    Jin Jiang International Holding Co., Ltd. 55,161,010 RMB ordinary share

    China Construction Bank-ICBC Credit Suisse Selected Balanced Mixed Fund 7,140,672 RMB ordinary share

    Shanghai International Trust Co., Ltd. 4,017,848 RMB ordinary share

    Cai Qingfeng 3,894,935

    Domestically listed foreign

    shares

    Shanghai Jinjiang Hotel Co., Ltd. 3,761,493 RMB ordinary share

    VALUE PARTNERS CLASSIC FUND 3,746,216

    Domestically listed foreign

    shares

    Hu Jiaying 3,571,786

    Domestically listed foreign

    shares

    China Construction Bank-Fortis Haitong Style Advantage Stock Fund 3,000,000 RMB ordinary share

    Shanghai Peace Hotel Co., Ltd 1,839,974 RMB ordinary share

    HTHK-VALUE PARTNERS INTELLIGENT FUNDS-CHINA B SHARE FUND 1,801,863

    Domestically listed foreign

    shares

    Explanation on associated

    relationship among the top

    ten shareholders or

    acting-in-concert

    Among the top ten shareholders of the Company, the first shareholder and the 5th, the 9th shareholder existed

    associated relationship and concerted actions. Jin Jiang International Holdings Co., Ltd, controlling shareholder of the

    Company, was also controlling shareholder of Shanghai Jinjiang Hotel Co., Ltd and Shanghai Peace Hotel Co., Ltd.

    It is unknown whether there is associated relationship or action-in-concert among other shareholders.

    Shares subject to conditional sales held by the top ten shareholders and the

    conditional sales

    Unit: Share

    Listing shares subject to trading

    moratorium

    Name of

    shareholders

    Shares

    subject to

    conditional

    sales held

    Date when shares

    will be listed for

    trade

    Increased shares

    to be listed for

    trade

    Conditional sales

    Jin Jiang

    International

    Holdings Co., Ltd

    157,425,450 13 Feb. 2010 157,425,450

    1. No trading and transfer may be taken within 12

    months as of the date when it gets the listing right in A

    share market, and no shares listed for sale in Shanghai

    Stock Exchange within 12 months.

    2. This company would sell shares held through listing

    and trading in Shenzhen Stock Exchange after expiration

    of the aforesaid commitment, but proportion of shares8

    sold in total shares of the Company shall not exceed 5

    percent within 12 months.

    3. This company would sell shares held through listing

    and trading in Shenzhen Stock Exchange after expiration

    of the aforesaid commitment, but proportion of shares

    sold in total shares of the Company shall exceed 10

    percent with 24 months.

    2. Changes in controlling shareholder and actual controller

    During the report period, the controlling shareholder and actual controller remained

    unchanged.9

    IV. Particulars about Directors, Supervisors and Superior Managers

    (I) Changes in shares held by directors, supervisors and superior manager

    During the report period, shares held by directors, supervisors and superior manager

    of the Company remained unchanged.

    (II) Directors, supervisors and superior manager dismissed or engaged

    On 22 May 2009, the Annual Shareholders’ General Meeting 2008 elected Shen

    Maoxing, Yang Yuanping, Yu Jianmin, Chen Wenjun, Ma Mingju, Zhang Baohua, Cai

    Qingfeng, Hu Maoyuan, Liu Yongzhang Lu Honggui and Lin Lihua as director of the

    Company, including Hu Maoyuan, Liu Yongzhang Lu Honggui and Lin Lihua as

    independent director.

    On 22 May 2009, the Annual Shareholders’ General Meeting 2008 elected Liu Haihai,

    Pan Jianchang as members of the 6th Supervisory Committee. Cai Yongjun was

    elected as employee representative supervisor of the 6th Supervisory Committee

    through democratic election procedure of employees.

    On 22 May 2009, the 1st Meeting of the 6th Board of Directors of the Company

    elected Shen Maoxing as Chairman of the 6th Board of Directors, Yang Yuanping and

    Yu Jianmin as Vice Board Chairman, and concurrently appointed Yang Yuanping as

    CEO and Yu Jianmin as COO and CEO; engaged Shao Xiaoming, Meng Zhengwei,

    Wang Rongfa and Yuan Liaojun as Vice President of the Company and Yuan Zhening

    as Secretary to the Board of Directors and hold a concurrent post of CFO.

    On 22 May 2009, the 1st Meeting of the 6th Supervisory Committee elected Liu Haihai

    as Chairman of the 6th Supervisory Committee of the Company.10

    V. Report of the Board of Directors

    (I) Discussion and Analysis of overall operation of the Company during the report

    period

    During the report period, owing to continual influence of international financial crisis,

    the three core business of the Company, that is passenger transportation service,

    modern logistics and logistics warehouse, was impacted, and operating achievements

    declined year-on-year. The Company insisted on attitude of scientific development

    and seeking truth from facts, strengthened confidence, focused on strategic objectives,

    actively confronted severe market environment caused by financial crisis, enhanced

    internal management and promoted effective implement of all countermeasures. The

    Company seized opportunity of development when prepared for the World Exposition,

    made effort to reduced influence of financial crisis on business of the Company at the

    lowest level, and kept core competitiveness and durative development ability.

    Operation of the Company was in upturn.

    During the report period, the Company realized operating income amounting to RMB

    779.18million, with an decrease of RMB42.38milion year-on-year, down5.16%;

    operating profit amounting to RMB165.65million, with an decrease of RMB48.01

    million year-on-year, down22.47%; net profit amounting to RMB140.34million, with

    an decrease of RMB34.95million year-on-year, down19.94%.

    (II) Main business of the Company and their operation status

    1. Statement on main business classified according to industries and products

    Unit: RMB Yuan

    Industry

    Operating

    income

    Operating cost

    Gross

    profit

    ratio (%)

    Changes of

    operating

    income over

    last year (%)

    Changes of

    operating cost

    over last year

    (%)

    Changes of gross

    profit ratio over last

    year (%)

    Vehicle operation and

    relevant business 492,390,681.17 322,697,657.08 34.46 0.30 -1.89 Increase by 1.46%

    Auto sales 224,527,231.20 210,781,682.69 6.12 -6.83 -6.78 Decrease by 0.06%

    Low-temperature

    logistics and relevant

    business

    37,960,565.09 19,866,523.34 47.67 -41.81 -52.91

    Decrease by 12.33

    %

    Of which: During the report period, related transaction that the Company offer

    products and labor service to its controlling shareholders and subsidiaries amount to

    RMB 5,220,000.

    Notes: The gross profit rate of the low-temperature logistics business grew by 12.33%,

    which was mainly due to the transfer of equity of Shanghai Nichirei Foods Co., Ltd.

    with a low gross profit rate.

    2. Main businesses classified according to regions

    Unit: (RMB) Yuan

    Region Operating revenue

    Increase/ decrease over the same period of

    last year (%)

    Shanghai 779,183,454.87 -5.1611

    3. Operational status of joint stock companies (applicable only when the returns of

    investment in the company exceed 10% of the Company’s net profit)

    Unit: (RMB) Yuan

    Name of company

    Business

    scope

    Net profit

    Investment yield

    contributed by

    joint stock

    company

    Proportion in net

    profit of the

    listed Company

    (%)

    Shanghai Pudong International

    Airport Cargo Terminal Co.,

    Ltd.

    Warehousing 109,304,678.32 14,209,608.18 10.13

    4. Problems and difficulties in the Company’s operation

    Due to the impact of the global financial crisis on the real economy, the Company

    encountered varying degrees of difficulty in its three main businesses. To be specific,

    the businesses related to domestic demand was slightly affected, while the

    international cargo transportation business and air port warehousing business, both

    closely associated with the foreign demand, were attacked to a greater extent.

    As the countermeasures, the Company was to further strengthen its internal control

    and management, give full play to its brand advantage and seize the opportunities

    brought by the economic pick-up and the 2010 Shanghai World Expo, so as to

    constantly expand the domestic and international markets and realize the

    improvement of the business performance.

    (Ⅲ) Investments by the Company

    1. Use of raised funds

    In the report period, the Company did not raise any funds or use any funds raised in

    the previous periods.

    2. Projects invested by non-raised funds

    In the report period, the Company did not launch any project invested by non-raised

    funds.12

    Ⅵ. Significant Events

    (Ⅰ) Corporate governance

    In the report period, in strict compliance with the Company Law, Securities Law,

    regulations concerning corporate governance issued by CSRC and the Rules of

    Shanghai Stock Exchange for Stock Listing, the Company constantly perfected its

    corporate governance structure and regulated its operation. The shareholders’ general

    meetings, boards of directors, boards of supervisors and the manager teams of the

    Company and its holding subsidiaries all worked in a regulated way with clear rights

    and responsibilities; Meanwhile, the Company took effective measures to strengthen

    the management of relationship with investors and strictly control its information

    disclosure, so as to make sure the factuality, accuracy, completeness and timeliness of

    information disclosure.

    In the report period, the Company successfully conducted the elections of new board

    of directors and board of supervisors upon the expiration of the old ones. And the

    composition of the new boards was in line with relevant laws and regulations. At the

    same time, three special committees—respectively involving strategic planning,

    auditing, and remuneration & performance appraisal—were re-established by the

    Board of Directors.

    In the report period, according to the regulations newly issued by securities regulatory

    authorities, the Company further amended its Articles of Association, Rules for Audit

    Committee of the Board of Directors Concerning Annual Reports, and Rules for

    Independent Directors Concerning Annual Reports, which greatly improved its

    governance.

    (Ⅱ) Implementation of profit distribution plan in the report period

    Approved by the 2008 Annual Shareholders’ General Meeting of the Company on 22

    May 2009, the Company came up with its profit distribution plan specified as follows:

    based on the Company’s total shares of 551,610,100 shares at the end of the year 2008,

    cash dividend of RMB 3.00 (tax included) was to be distributed to all the shareholders

    for every 10 shares.

    On 9 Jun. 2009, the Company disclosed the public notice concerning profit

    distribution implementation on Shanghai Securities News and Hong Kong Ta Kung

    Pao. As disclosed in the public notice, the date of record for A-share was 12 Jun. 2009;

    for B-share, the last trading date was 12 Jun. 2009, and the date of record 17 Jun.

    2009. Ex-dividend date: 15 Jun. 2009. Date of Payment: 26 Jun. 2009. And the

    distribution of dividends for all the shareholders was completed as scheduled.

    (Ⅲ) Implementation of cash dividend policy in the report period

    According to its Articles of Association, the Company adopted a profit distribution

    policy as follows: the Company should pay attention to reasonable investment returns13

    for investors when distributing profit, and ensure a consistent and stable profit

    distribution policy. The Company may conduct interim distribution of cash dividends.

    And where the profit accumulatively distributed in cash in the last three years is less

    than 30% of the average distributable profits per year in the last three years, the

    Company shall not issue new equity or convertible debentures to the public, or allot

    shares to the original shareholders.

    The Company carried out the distribution of cash dividends in the report period, for

    details of which please refer to (Ⅱ) of this Section.

    (Ⅳ) Significant lawsuits and arbitrations

    The Company was not involved in any significant lawsuit or arbitration in the report

    period.

    (Ⅴ) Equity of other listed companies and financial enterprises held by the Company

    1. Equity of other listed companies held by the Company

    Unit: (RMB) Yuan

    Stock

    code

    Short

    form of

    stock

    Initial

    investment

    amount

    Proport

    ion in

    the

    compan

    y’s

    shares

    (%)

    Book value at

    period-end

    Gains/ losses in

    report period

    Changes in

    owners’ equity

    in report period

    601328 JTYH 8,106,520.00 <5 80,575,078.50 894,285.00 28,639,477.13

    600655 YYSC 1,994,384.78 <1 20,019,000.96 52,080.00 7,178,532.00

    600643 AJGF 2,757,499.60 <1 18,956,083.01 13,813,773.90 2,799,491.97

    601727 SDGF 497,340.08 <1 12,441,480.00 3,618.30 3,944,979.40

    600631 BLGF 1,666,309.70 <1 11,754,000.00 3,084,750.00

    600082 HTFZ 864,540.00 <1 3,639,094.46 1,901,306.12

    600616 JFJY 781,657.43 <1 2,390,004.75 682,710.05

    600642 SNGF 280,000.00 <1 1,479,000.00 15,000.00 435,375.00

    600665 TDY 159,264.00 <1 421,344.00 170,856.00

    600618 LJHG 44,044.00 <1 101,301.20 36,082.20

    Total 17,151,559.59 / 151,776,386.88 14,778,757.20 48,873,559.87

    Notes: 1. The equities mentioned above all belonged to the accounting entry of

    available-for-sale financial assets;

    2. The equities mentioned above all came from the subscription of corporate

    shares.

    2. Equity of non-listed financial enterprises held by the Company14

    Name of

    entity

    Initial

    investment

    amount

    (RMB)

    Amount of

    shares held

    (share)

    Proportion

    in equity of

    the

    company

    Book value at

    period-end

    (RMB)

    Gains/ losses in

    report period

    (RMB)

    Changes

    of owners’

    equity in

    report

    period

    (RMB)

    Accounting

    entry

    Source of share

    Guotai

    Junan

    Securities

    Co., Ltd

    47,649,967 47,649,967 1.014 47,649,967 14,294,990.10 0

    Long-term

    equity

    investment

    Subscription

    Total 47,649,967 47,649,967 / 47,649,967 14,294,990.10 0 / /

    On 6 Apr. 2007, the Board of Directors of the Company approved the Proposal on

    Increasing Investment in Guotai Junan Securities Co., Ltd., deciding to subscribe

    another 14,130,000 shares of Guotai Junan Securities Co., Ltd.. The Company had

    paid for the share subscription. And the relevant stock rights would be confirmed

    upon CSRC’s approving the plan of increasing investment in Guotai Junan Securities

    Co., Ltd.. After the rights confirmation, the shares of Guotai Junan Securities Co., Ltd.

    held by the Company would aggregate 61,780,000 shares.

    (Ⅵ) Asset purchase and sale, as well as mergers in the report period

    In the report period, the Company was not involved in any significant asset purchase

    or sale or merger.

    (Ⅶ) Significant related transactions in the report period

    In the report period, the Company did not conduct any significant related transactions.

    (Ⅷ) Significant contracts and their execution

    1. Particulars about trusteeship, contracting and leasing affairs

    (1) Particulars about trusteeship affairs

    The Company was not involved in any significant trusteeship affair in the report

    period.

    (2) Particulars about contracting affairs

    The Company was not involved in any significant contracting affair in the report

    period.

    (3) Particulars about leasing affairs

    The Company was not involved in any significant leasing affair in the report period.

    2. Particulars about guarantees

    Unit: (RMB) Ten Thousand15

    External guarantees provided by the Company (excluding guarantees for subsidiaries)

    Guarantee

    provider

    Relationshi

    p between

    guarantee

    provider

    and the

    listed

    Company

    Guaranteed party

    Amount

    of

    guarantee

    Beginning

    date of

    guarantee

    Expiring

    date of

    guarantee

    Type of

    guarantee

    Whethe

    r or not

    guarant

    ee has

    been

    fully

    accomp

    lished

    Whether an

    overdue

    guarantee

    Whether

    counter

    guarantee

    exists

    Whether

    or not a

    guarantee

    provided

    for related

    party

    Shanghai Jin

    Jiang Auto

    Service Co., Ltd

    Holding

    subsidiary

    of the

    Company

    Shanghai Yongda

    Fengdu Vehicle

    Selling Co., Ltd

    1,600

    29 Mar.

    2009

    28 Mar.

    2010

    General

    guarantee

    No No Yes No

    Shanghai Jin

    Jiang Business

    and Travel Auto

    Service Co., Ltd

    Affiliated

    company

    of the

    Company’s

    holding

    subsidiary

    Shanghai South

    Station

    Long-distance

    Passenger

    Transport Co.,

    Ltd

    1,250

    20 Dec.

    2008

    19 Dec.

    2009

    General

    guarantee

    No No Yes No

    Total amount of external guarantees in report period 1,520

    Total balance of external guarantees at period-end (A) 2,114

    Guarantees provided by the Company for its holding subsidiaries

    Total amount of guarantees for holding subsidiaries in report period 0

    Total balance of guarantees for holding subsidiaries at period-end（B） 0

    Total amount of guarantees provided by the Company (including guarantees for subsidiaries)

    Total amount of guarantees（A+B） 2,114

    Proportion of total guarantee amount in the Company’s net assets (%) 1.16

    Including:

    Amount of guarantees for shareholders, actual controller and their related parties （C） 0

    Amount of direct and indirect debt guarantees for parties with asset-liability-ratio higher than 70%（D） 0

    Amount of total guarantee exceeding 50% of net assets（E） 0

    Total of the three kinds of guarantees mentioned above（C+D+E） 0

    3. Particulars about trust financing

    The Company was not involved in any significant trust financing affair in the report

    period.

    4. Other significant contracts

    The Company was not involved in any other significant contract in the report period.

    (Ⅸ) Particulars about fulfillment of commitments

    1. Commitments made by the Company, shareholders holding over 5% shares and

    actual controller and their execution, as well as such commitments carried down from16

    previous periods and their execution

    Commitments made by JinJiang International (Group) Co., Ltd.:

    Commitme

    nt

    Specific contents of commitment

    Fulfillment of

    commitment

    Commitme

    nt

    concerning

    share

    merger

    1. Within the following 12 months after it acquires the right to list at A share market, the

    non-tradable shares held by it shall not get listed at Shanghai Stock Exchange.

    2. After expiration of the previous commitment, the proportion of the shares sold at Shanghai

    Stock Exchange in the Company’s total shares will not exceed 5% within 12 months, and

    will not exceed 10% within 24 months; And where the shares which are sold and become

    tradable in Shanghai Stock Exchange reach 1% of the Company’s total shares, the Company

    shall make a relevant public notice within two workdays since the occurrence of the sale.

    3. After the implementation of share merger reform, the Company will propose and vote for

    a cash distribution not lower than 50% of the profit available for distribution in the same

    year at the 2005, 2006 and 2007 Shareholders’ General Meeting of Shanghai Jinjiang

    International Industrial Investment Co., Ltd.

    1. The commitment

    concerning the trading

    moratorium is being

    executed.

    2. The commitment

    concerning profit

    distribution has been

    fulfilled in the profit

    distribution of the year

    2005, 2006 and 2007.

    (1) By the date of this semi-yearly report’s being disclosed, whether or not there still

    existed commitments concerning business performance of which the execution had

    not been fully accomplished: No

    (2) By the date of this semi-yearly report’s being disclosed, whether or not there still

    existed commitments concerning asset injection and integration of which the

    execution had not been fully accomplished: No

    (Ⅹ) Engagement and disengagement of CPA firm by the Company

    Unit: (RMB) Yuan

    Whether to engage another CPA firm No

    (Ⅺ) Punishment on the Company, its directors, supervisors, senior executives,

    shareholders and actual controller, as well as particulars about relevant rectification

    In the report period, the Company, its directors, supervisors, senior executives,

    shareholders and actual controller did not receive any investigation, administrative

    punishment, criticism by circular from CSRC, or any official criticism from stock

    exchanges.

    (Ⅻ) Explanation and analysis on other significant events, their impact and solutions

    The Company was not involved in any other significant event in the report period.

    (ⅩⅢ) Index for information disclosed17

    Information disclosed

    Name and page number of the newspapers

    for disclosure

    Date of disclosure

    2008 Annual Preliminary Earnings

    Estimate

    Shanghai Securities News C13, Hong Kong

    South China Morning Post B6

    20 Jan. 2009

    Public Notice on Listing of Shares

    Subject to Trading Moratorium

    Shanghai Securities News B4 6 Feb. 2009

    Public Notice on Resolutions Made at

    the 19th Meeting of the 5th Board of

    Directors

    Shanghai Securities News C53, Hong Kong

    Ta Kung Pao C4

    23 Apr. 2009

    Public Notice on Resolutions Made at

    the 13th Meeting of the 5th Board of

    Supervisors

    Shanghai Securities News C53, Hong Kong

    Ta Kung Pao C4

    23 Apr. 2009

    Public Notice on Estimated Routine

    Related Transactions in 2009

    Shanghai Securities News C53, Hong Kong

    Ta Kung Pao C4

    23 Apr. 2009

    2008 Annual Report

    Shanghai Securities News C53, Hong Kong

    Ta Kung Pao C4

    23 Apr. 2009

    Public Notice on Resolutions Made at

    the 20th Meeting of the 5th Board of

    Directors & Convening 2008 Annual

    Shareholders’ General Meeting

    Shanghai Securities News C84, Hong Kong

    Ta Kung Pao B8

    30 Apr. 2009

    The 1st Quarterly Report of 2009

    Shanghai Securities News C84, Hong Kong

    Ta Kung Pao B8

    30 Apr. 2009

    Public Notice on Resolutions Made at

    2008 Annual Shareholders’ General

    Meeting

    Shanghai Securities News 13, Hong Kong

    Ta Kung Pao A7

    23 May 2009

    Public Notice on Resolutions Made at

    the 1st Meeting of the 6th Board of

    Directors

    Shanghai Securities News 13, Hong Kong

    Ta Kung Pao A7

    23 May 2009

    Public Notice on Resolutions Made at

    the 1st Meeting of the 6th Board of

    Supervisors

    Shanghai Securities News 13, Hong Kong

    Ta Kung Pao A7

    23 May 2009

    Public Notice on Implementation of

    2008 Profit Distribution

    Shanghai Securities News C5, Hong Kong

    Ta Kung Pao A29

    9 Jun. 2009

    Notes: The disclosed information as mentioned above can all be found at the website

    of Shanghai Stock Exchange http://www.sse.com.cn.18

    Ⅶ. Financial Report (Un-audited, attached behind)

    Ⅷ. Documents for Reference

    1. Text of this semi-yearly report with the signature of Legal Representative;

    2. Text of the financial report with the signatures and seals of the head of the

    Company, Person-in-charge of accounting and Person-in-charge of the accounting

    agency;

    3. Original texts of all the Company’s documents and public notices disclosed in the

    report period on the newspapers designated by CSRC.

    Chairman of the Board: Shen Maoxing

    Shanghai Jin Jiang International Industrial Investment Co., Ltd.

    10 Aug. 2009- 1 -

    SHANGHAI JIN JIANG INTERNATIONAL

    INDUSTRIAL INVESTMENT CO., LTD.

    Financial Statements for

    Six Months Ended

    30 June 2009

    (Not audited)

    10 August, 2009SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.

    - 2 -

    THE COMPANY AND CONSOLIDATED BALANCE SHEETS

    AT 30 JUNE 2009

    Unit:RMB

    Consolidated The Company

    ASSETS NOTE VIII 30/06/2009 31/12/2008 30/06/2009 31/12/2008

    Current Assets:

    Currency funds 1 664,838,920.69 609,605,573.31 326,394,657.96 260,262,892.62

    Accounts receivable 2 47,311,639.84 41,955,060.11 418,545.21 157,907.20

    Advances to suppliers 3 56,125,410.54 53,929,049.13 25,200.00 24,300.00

    Dividends receivable 4 16,204,488.25 10,722,095.18 10,375,059.47 -

    Other receivables 5 23,482,750.99 25,819,294.55 40,572,184.93 44,131,974.01

    Inventories 6 33,108,593.89 48,344,222.64 63,519.49 100,216.69

    Non-current assets

    due within one year 15 4,230,666.67 4,230,666.67 - -

    Other current assets 7 ___________-_ __ ____5_,_0_6_7_,4_9_6_._1_6 ____________- __ ___________-_ __

    Total current assets __8_4_5_,3_0_2_,_4_7_0_.8_7_ __7_9_9_,_6_7_3_,4_5_7_._7_5 __3_7_7_,_8_4_9_,1_6_7_._0_6 __3_0_4_,6_7_7_,_2_9_0_.5_2_

    Non-current assets:

    Available-for-sale

    financial assets 8 151,776,386.88 90,086,010.03 126,906,113.51 77,283,466.46

    Long-term equity

    investments 10 696,931,863.24 763,871,741.93 1,025,961,345.49 1,025,306,505.71

    Investment property 9 35,479,956.20 35,865,835.82 21,275,368.75 21,496,546.99

    Fixed assets 11 792,296,773.60 805,580,785.14 47,783,964.04 49,269,079.07

    Construction in progress 12 6,638,573.06 2,362,500.00 - -

    Intangible assets 13 135,000,036.29 135,539,826.35 940,054.00 958,426.00

    Long-term prepayments 97,168.04 103,645.94 - -

    Deferred tax assets 14 1,764,454.52 1,791,105.58 1,764,454.52 1,791,105.58

    Other non-current assets 1 5 ___2_7_,9_5_4_,_9_8_9_.3_3_ ___2_7_,_9_5_4_,9_8_9_._3_3 ___1_5_,_2_6_2_,9_8_8_._7_6 ___1_5_,2_6_2_,_9_8_8_.7_6_

    Total non-current assets 1_,_8_4_7_,9_4_0_,_2_0_1_.1_6_ _1_,8_6_3_,_1_5_6_,4_4_0_._1_2 _1_,2_3_9_,_8_9_4_,2_8_9_._0_7 1_,_1_9_1_,3_6_8_,_1_1_8_.5_7_

    TOTAL ASSETS 2__,__6__9__3__,2__4__2__,__6__7__2__.0__3__ __2__,6__6__2__,__8__2__9__,8__9__7__.__8__7 __1__,6__1__7__,__7__4__3__,4__5__6__.__1__3 1__,__4__9__6__,0__4__5__,__4__0__9__.0__9__

    (Continued)SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.

    - 3 -

    THE COMPANY AND CONSOLIDATED BALANCE SHEETS

    AT 30 JUNE 2009

    Unit:RMB

    Consolidated The Company

    LIABILITIES AND

    SHAREHOLDERS'

    EQUITY NOTE VIII 30/06/2009 31/12/2008 30/06/2009 31/12/2008

    Current Liabilities:

    Short-term borrowings 17 - 25,000,000.00 - -

    Accounts payable 18 50,177,984.63 54,078,435.62 356,103.43 560,675.38

    Advances from customers 19 84,437,311.75 91,273,167.43 346,129.70 321,521.62

    Employee benefits payable 20 106,761,182.80 82,467,362.98 2,940,661.32 4,671,881.60

    Tax payable 21 33,227,221.42 23,351,970.77 3,196,862.51 3,023,506.27

    Dividends payable 22 68,579,489.79 35,050,849.29 21,013,630.45 21,338,065.35

    Other payables 23 265,873,141.64 ______________ ___2_6_9_,_1_7_2_,8_2_7_._5_5 _____4_,3_7_1_,4_3_1_._4_5 _____3_,1_4_1_,_0_4_4_.4_5_

    Total current liabilities ___6_0_9_,0_5_6_,3_3_2_._0_3 ___5_8_0_,_3_9_4_,6_1_3_._6_4 ____3_2_,2_2_4_,8_1_8_._8_6 ____3_3_,0_5_6_,_6_9_4_.6_7_

    Non-Current Liabilities:

    Deferred tax liabilities 24 33,656,206.81 17,339,447.82 28,171,724.85 14,871,963.30

    Other non-current liabilities 2 5 ____5_5_,7_3_1_,8_7_1_._6_4 ____5_6_,_2_7_1_,9_4_5_._8_4 ____________- __ ____________-_ __

    Total non-current liabilities ____8_9_,3_8_8_,0_7_8_._4_5 ____7_3_,_6_1_1_,3_9_3_._6_6 ____2_8_,1_7_1_,7_2_4_._8_5 ____1_4_,8_7_1_,_9_6_3_.3_0_

    T OTAL LIABILITIES ___6_9_8_,4_4_4_,4_1_0_._4_8 ___6_5_4_,_0_0_6_,0_0_7_._3_0 ____6_0_,3_9_6_,5_4_3_._7_1 ____4_7_,9_2_8_,_6_5_7_.9_7_

    SHAREHOLDERS’ EQUITY

    Share capital 26 551,610,107.00 551,610,107.00 551,610,107.00 551,610,107.00

    Capital reserve 27 485,794,324.70 437,051,678.24 464,580,837.48 424,681,552.81

    Surplus reserve 28 207,076,075.63 183,594,684.76 207,076,075.63 183,594,684.76

    Unappropriated profit 2 9 ___5_7_2_,7_6_2_,9_3_4_._4_7 ___6_2_1_,_3_8_6_,1_7_7_._7_3 ___3_3_4_,0_7_9_,8_9_2_._3_1 ___2_8_8_,2_3_0_,_4_0_6_.5_5_

    Total shareholders’ equity

    attributable to equity

    holders of the parent 1,817,243,441.80 1,793,642,647.73 1,557,346,912.42 1,448,116,751.12

    Minority interests 3 0 ___1_7_7_,5_5_4_,8_1_9_._7_5 ___2_1_5_,_1_8_1_,2_4_2_._8_4 ____________- __ ____________-_ __

    Total shareholders’ equity _1_,_9_9_4_,7_9_8_,2_6_1_._5_5 __2_,0_0_8_,_8_2_3_,8_9_0_._5_7 _1_,_5_5_7_,3_4_6_,9_1_2_._4_2 _1_,_4_4_8_,1_1_6_,_7_5_1_.1_2_

    TOTAL LIABILITIES AND

    SHAREHOLDERS' EQUITY __2__,__6__9__3__,2__4__2__,6__7__2__.__0__3 ____2__,6__6__2__,__8__2__9__,8__9__7__.__8__7 __1__,__6__1__7__,7__4__3__,4__5__6__.__1__3 __1__,__4__9__6__,0__4__5__,__4__0__9__.0__9__

    The accompanying notes form part of the financial statements.

    The financial statements on pages 2 to 61 were signed by the following:

    Head of the Company: Chief Financial Officer: Head of Accounting Department:

    Yang Yuan Ping Yuan Zhe Ning Liu Zhao HuiSHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.

    - 4 -

    THE COMPANY AND CONSOLIDATED INCOME STATEMENTS

    FOR SIX MONTHS ENDED 30 JUNE 2009

    Unit:RMB

    Consolidated The Company

    Items NOTE VIII For six months For six months For six months For six months

    ended ended ended ended

    30 June 2009 30 June 2008 30 June 2009 30 June 2008

    RMB RMB RMB RMB

    Operating income 31 779,183,454.87 821,557,202.60 9,817,732.30 11,051,626.82

    Less: Operating costs 32 557,653,433.66 601,541,761.82 1,735,461.68 1,981,421.66

    Business taxes and levied 33 19,806,836.51 19,979,488.93 493,662.36 554,628.36

    Selling and distribution

    expenses 66,084,545.37 66,325,646.29 4,367,911.46 4,290,249.66

    Administrative expenses 54,309,174.16 46,827,133.35 7,161,201.00 7,611,272.39

    Finance expenses 34 (1,278,098.18) (2,745,535.10) (1,383,248.12) (2,094,419.44)

    Impairment loss

    in respect of assets - - - -

    Add: Investment income 35 83,037,881.59 124,033,261.33 240,706,809.87 288,469,533.43

    Including:

    Income from investment

    in associates and

    joint ventures 3 5 _____4_6_,_3_47_,_6_7_8_.8_7 _____8_7_,2_5_3_,9_2_0_._19_ _____1_1_,0_2_9_,_8_99_._2_5 _____1_5_,3_8_2_,_93_9_._1_8

    Operating profit 165,645,444.94 213,661,968.64 238,149,553.79 287,178,007.62

    Add: Non-operating income 36 12,629,718.03 16,362,172.35 3,611.30 3,930.50

    Less: Non-operating expenses 37 146,943.64 208,909.86 - 52,922.00

    Including: Losses from

    disposal of

    non-current assets 3 7 ________1_0_6,_7_1_1_.4_8 _______1_8_5_,9_8_7_._86_ _____________- __ _____________- __

    Total profit 178,128,219.33 229,815,231.13 238,153,165.09 287,129,016.12

    Less: Income tax expenses 3 8 _____2_2_,_5_82_,_6_6_4_.0_0 _____2_2_,4_2_9_,0_2_1_._72_ ______3_,3_3_9_,_2_56_._3_6 ______2_,3_1_8_,_06_4_._2_6

    N et profit __________15__5__,__5__45__,__5__5__5__.3__3 ________2__0__7__,3__8__6__,2__0__9__.__41__ ________2__3__4__,8__1__3__,__9__08__.__7__3 ________2__8__4__,8__1__0__,__95__1__.__8__6

    Net profit attributable to

    shareholders of the parent 40 140,341,179.71 175,285,402.83 234,813,908.73 284,810,951.86

    Profit attributable to minority interests 15,204,375.62 32,100,806.58 - -

    Earnings per share:

    1. Basic earnings per share 40 0.254 0.318

    2. Diluted earnings per share 40 N/A N/A

    The accompanying notes form part of the financial statements.SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.

    - 5 -

    THE COMPANY AND CONSOLIDATED CASH FLOW STATEMENTS

    FOR SIX MONTHS ENDED 30 JUNE 2009

    Consolidated The Company

    For six months For six months For six months For six months

    ended ended ended ended

    NOTE VIII 30 June 2009 30 June 2008 30 June 2009 30 June 2008

    RMB RMB RMB RMB

    Cash Flows from Operating Activities:

    Cash received from sales of goods

    or rendering of services 766,519,703.21 820,977,598.22 9,557,094.29 10,809,377.29

    Other cash receipts relating to

    operating activities 87,675,854.21 89,964,753.63 _______________ ______________ ____1_,3_0_1_,_3_0_6_.4_6_ ____5_,2_1_3_,_4_0_1_.8_4_

    Su b-total of cash inflows ___8_5_4_,1_9_5_,_5_5_7_.4_2_ __9_1_0_,9_4_2_,_3_5_1_.8_5_ ___1_0_,8_5_8_,_4_0_0_.7_5_ ___1_6_,0_2_2_,_7_7_9_.1_3_

    Cash payments for goods and purchased

    and services received 413,291,285.15 436,399,535.31 3,085,065.63 2,469,617.30

    Cash payments to and on behalf of employees 155,713,840.79 146,091,485.06 6,592,854.85 8,858,515.82

    Payments of all type of taxes 45,456,846.58 43,374,628.72 3,921,616.55 2,314,740.97

    Oth er cash payments relating to operating activities ____2_5_,4_2_9_,_1_5_5_.9_0_ ___1_8_,9_4_8_,_0_3_6_.6_2_ ____1_,2_3_5_,_8_4_0_.5_2_ _____5_8_2_,_0_3_5_.8_4_

    Su b-total of cash outflows ___6_3_9_,8_9_1_,_1_2_8_.4_2_ __6_4_4_,8_1_3_,_6_8_5_.7_1_ ___1_4_,8_3_5_,_3_7_7_.5_5_ ___1_4_,2_2_4_,_9_0_9_.9_3_

    Net C ash Flows from Operating Activities ___2_1_4_,3_0_4_,_4_2_9_.0_0_ __2_6_6_,1_2_8_,_6_6_6_.1_4_ ___(_3_,9_7_6_,_9_7_6_.8_0_) ____1_,7_9_7_,_8_6_9_.2_0_

    Cash Flow from Investing Activities:

    Proceeds on disposal and returns of investments 21,207,819.31 9,257,559.05 21,202,538.64 9,257,559.05

    Cash receipts from returns on investments 123,166,318.18 179,043,527.01 212,050,771.16 183,293,832.45

    Net cash receipts from disposal

    of fixed assets, intangible assets

    and other long-term assets 15,270,665.78 19,128,458.20 - -

    Net cash receipts from disposals

    of subsidiaries or other business units 43 1,394,304.63 - - -

    Oth er cash receipts relating to investing activities ____________-_ __ ___1_6_,0_0_0__,0_0_0_.0_0_ ____2_,7_4_9_,_9_3_3_.3_4_ ____2_,7_4_9_,_9_3_3_.3_4_

    Su b-total of cash inflows ___1_6_1_,0_3_9_,_1_0_7_.9_0_ __2_2_3_,4_2_9_,_5_4_4_.2_6_ __2_3_6_,0_0_3_,_2_4_3_.1_4_ __1_9_5_,3_0_1_,_3_2_4_.8_4_

    Cash payments to acquire and construct fixed assets,

    intangible assets and other long-term assets 118,117,807.48 123,550,829.96 87,034.00 187,192.00

    Cash payments to acquire investments - - - -

    other cash payments relating to

    i nvesting activities ____________-_ __ ___________-_ __ ___________-_ __ ___________-_ __

    Su b-total of cash outflows ___1_1_8_,_11_7_,_8_0_7_.4_8_ __1_2_3_,5_5_0_,_8_2_9_.9_6_ ______8_7_,_0_3_4_.0_0_ _____1_8_7_,_1_9_2_.0_0_

    Net C ash Flows from Investing Activities ____4_2_,_92__1_,3_0_0_.4_2_ ___9_9_,8_7_8__,7_1_4_.3_0_ __2_3_5_,9_1_6_,_2_0_9_.1_4_ __1_9_5_,1_1_4_,_1_3_2_.8_4_

    Cash Flows from Financing Activities:

    Cash receipts from investors making investment

    in the enterprise - - - -

    Cash receipt from borrowings - 30,000,000.00 - -

    Ca sh received from other financing activities ____________-_ __ ___________-_ __ ___________-_ __ ___________-_ __

    Su b-total of cash inflows ____________-_ __ ___3_0_,0_0_0_,_0_0_0_.0_0_ ___________-_ __ ___________-_ __

    Cash repayments of amounts borrowed 25,000,000.00 - - -

    Cash payments for distribution of dividends or

    profit or interest expenses 176,992,382.04 224,378,635.21 165,807,467.00 221,115,814.00

    Including: payments for distribution of dividends or profit to

    minorities of subsidiaries 8,883,502.45 1,924,396.71 - -

    Oth er cash payments relating to financing activities ____________-_ __ ___________-_ __ ___________-_ __ ___________-_ __

    Su b-total of cash outflows ___2_0_1_,9_9_2_,_3_8_2_.0_4_ __2_2_4_,3_7_8_,_6_3_5_.2_1_ __1_6_5_,8_0_7_,_4_6_7_.0_0_ __2_2_1_,1_1_5_,_8_1_4_.0_0_

    Net C ash Flows from Financing Activities __(_2_0_1_,9_9_2_,_3_8_2_.0_4_) _(_1_9_4_,3_7_8_,_6_3_5_.2_1_) _(_1_6_5_,8_0_7_,_4_6_7_.0_0_) _(_2_2_1_,1_1_5_,_8_1_4_.0_0_)

    Net In crease in Cash and Cash Equivalents ____5_5_,2_3_3_,_3_4_7_.3_8_ __1_7_1_,6_2_8_,_7_4_5_.2_3_ ___6_6_,1_3_1_,_7_6_5_.3_4_ __(_2_4_,2_0_3_,_8_1_1_.9_6_)

    Add:O pening Balance of Cash and Cash Equivalents ___6_0_9_,6_0_5_,_5_7_3_.3_1_ __4_1_4_,1_6_4_,_2_3_5_.7_0_ __2_6_0_,2_6_2_,_8_9_2_.6_2_ __1_7_3_,1_5_1_,_1_5_6_.9_8_

    Closin g Balance of Cash and Cash Equivalents ______6__6__4__,8__3__8__,__9__2__0__.6__9__ ____5__8__5__,7__9__2__,__9__8__0__.9__3__ ____3__2__6__,3__9__4__,__6__5__7__.9__6__ ____1__4__8__,9__4__7__,__3__4__5__.0__2__

    The accompanying notes form part of the financial statements.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 6 -

    THE COMPANY AND CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

    FOR SIX MONTHS ENDED 30 JUNE 2009

    NOTE VIII Consolidated The Company

    Attributable to Total Total

    Unappropriated equity holders of Minority shareholders’ Unappropriated shareholders’

    Share capital Capital reserve Surplus reserve profit the parent interests equity Share capital Capital reserve Surplus reserve profit equity

    RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB

    I. Balance at 31 December 2008 551,610,107.00 437,051,678.24 183,594,684.76 621,386,177.73 1,793,642,647.73 215,181,242.84 2,008,823,890.57 551,610,107.00 424,681,552.81 183,594,684.76 288,230,406.55 1,448,116,751.12

    1.Effects of changes in accounting policies - - - - - - - - - - - -

    2.Corrections of prior year errors - - - - - - - - - - - -

    II. At 1 January 2009 551,610,107.00 437,051,678.24 183,594,684.76 621,386,177.73 1,793,642,647.73 215,181,242.84 2,008,823,890.57 551,610,107.00 424,681,552.81 183,594,684.76 288,230,406.55 1,448,116,751.12

    III. Changes for the year

    (I) Net profits - - - 140,341,179.71 140,341,179.71 15,204,375.62 155,545,555.33 - - - 234,813,908.73 234,813,908.73

    (II) Gain and loss directly recognised in

    shareholders' equity

    1. Net fair value changes of

    available-for-sale financial assets - 64,990,195.28 - - 64,990,195.28 276,840.65 65,267,035.93 - 53,199,046.23 - - 53,199,046.23

    2. Implications of changes in other owner’s

    equity of investees using equity method - - - - - - - - - - - -

    3. Tax effects of items directly recognised in

    shareholders' equity - (16,247,548.82) - - (16,247,548.82) (69,210.17) (16,316,758.99) - (13,299,761.56) - - (13,299,761.56)

    4. Others ___________-_ __ ___________-_ __ __________-_ __ ___________-_ __ ____________-_ __ __________-_ __ ____________-_ __ __________-_ __ _________-_ __ __________-_ __ __________-_ __ ____________-_ __

    Subtotal of (I) and (II) ___________-_ __ ___4_8_,7_4_2_,_6_4_6_.4_6_ __________-_ __ __1_4_0_,3_4_1_,_1_7_9_.7_1_ ___1_8_9_,0_8_3_,_8_2_6_.1_7_ __1_5_,4_1_2_,_0_0_6_.1_0_ ___2_0_4_,4_9_5_,_8_3_2_.2_7_ __________-_ __ _3_9_,_8_9_9_,2_8_4_._6_7 __________-_ __ _2_3_4_,8_1_3_,_9_0_8_.7_3_ ___2_7_4_,7_1_3_,_1_9_3_.4_0_

    (III) Owner’s contributions and reduction in capital

    1. Capital contribution from owners - - - - - - - - - - - -

    2. Share-based payment recognised in shareholders' equity - - - - - - - - - - - -

    3. Others 43 - - - - - (10,301,851.34) (10,301,851.34) - - - - -

    (IV) Profit distribution

    1. Transfer to surplus reserve - - 23,481,390.87 (23,481,390.87) - - - - - 23,481,390.87 (23,481,390.87) -

    2. Distribution to shareholders - - - (165,483,032.10) (165,483,032.10) (42,736,577.85) (208,219,609.95) - - - (165,483,032.10) (165,483,032.10)

    3. Others - - - - - - - - - - - -

    (V) Transfer within shareholders' equity

    1. Capitalisation of capital reserve - - - - - - - - - - - -

    2. Capitalisation of surplus reserve - - - - - - - - - - - -

    3. Loss made up by surplus reserve - - - - - - - - - - - -

    4. Others ___________-_ __ ___________-_ __ __________-_ __ ___________-_ __ ____________-_ __ __________-_ __ ____________-_ __ ____________-_ __ ___________-_ __ __________-_ __ __________-_ __ ____________-_ __

    I V. Balance at 30 June 2009 ____5__5__1__,6__1__0__,__1__0__7__.0__0__ ____4__8__5__,7__9__4__,__3__2__4__.7__0__ __2__0__7__,0__7__6__,__0__7__5__.6__3__ ____5__7__2__,7__6__2__,__9__3__4__.4__7__ __1__,__8__1__7__,2__4__3__,__4__4__1__.8__0__ __1__7__7__,5__5__4__,__8__1__9__.7__5__ __1__,__9__9__4__,7__9__8__,__2__6__1__.5__5__ ______5__5__1__,__6__1__0__,1__0__7__.__0__0 ____4__6__4__,__5__8__0__,8__3__7__.__4__8 __2__0__7__,0__7__6__,__0__7__5__.6__3__ __3__3__4__,0__7__9__,__8__9__2__.3__1__ __1__,__5__5__7__,3__4__6__,__9__1__2__.4__2__

    (Continued)SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 7 -

    THE COMPANY AND CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

    FOR SIX MONTHS ENDED 30 JUNE 2009

    The Group The Company

    Attributable to Total Total

    Unappropriated equity holders of Minority shareholders’ Unappropriated shareholders’

    Share capital Capital reserve Surplus reserve profit the parent interests equity Share capital Capital reserve Surplus reserve profit equity

    RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB

    I. Balance at 31 December 2007 551,610,107.00 531,883,826.10 152,837,477.26 550,330,570.41 1,786,661,980.77 213,699,453.24 2,000,361,434.01 551,610,107.00 513,602,606.28 152,837,477.26 232,059,581.84 1,450,109,772.38

    Effects of changes in accounting policies - - - - - - - - - - - -

    Corrections of prior year errors - - - - - - - - - - - -

    II. Balance at 1 January 2008 551,610,107.00 531,883,826.10 152,837,477.26 550,330,570.41 1,786,661,980.77 213,699,453.24 2,000,361,434.01 551,610,107.00 513,602,606.28 152,837,477.26 232,059,581.84 1,450,109,772.38

    III. Changes for the year

    (I) Net profits - - - 323,105,516.48 323,105,516.48 62,945,745.90 386,051,262.38 - - - 307,572,075.01 307,572,075.01

    (II) Gain and loss directly recognised in

    shareholders' equity

    1. Net fair value changes of

    available-for-sale financial assets - (133,314,994.35) - - (133,314,994.35) (220,976.06) (133,535,970.41) - (118,561,405.70) - - (118,561,405.70)

    2. Implications of changes in other owner’s

    equity of investees using equity method - (651,499.99) - - (651,499.99) (34,289.47) (685,789.46) - - - - -

    3. Tax effects of items directly recognised in

    shareholders' equity - 33,328,749.40 - - 33,328,749.40 55,244.02 33,383,993.42 - 29,640,352.23 - - 29,640,352.23

    4. Others ___________-_ __ ____5_,8_0_5_,_5_9_7_.0_8_ __________-_ __ _____(6_4_8_,_6_5_8_.8_6_) _____5_,1_5_6_,_9_3_8_.2_2_ ____2_7_1_,_4_1_7_.7_8_ _____5_,4_2_8_,_3_5_6_.0_0_ __________-_ __ _________-_ __ __________-_ __ __________-_ __ ____________-_ __

    Subtotal of (I) and (II) ___________-_ __ __(_9_4_,8_3_2_,_1_4_7_.8_6_) __________-_ __ __3_2_2_,4_5_6_,_8_5_7_.6_2_ ___2_2_7_,6_2_4_,_7_0_9_.7_6_ __6_3_,0_1_7_,_1_4_2_.1_7_ ___2_9_0_,6_4_1_,_8_5_1_.9_3_ __________-_ __ (_8_8_,_9_2_1_,0_5_3_._4_7 ) __________-_ __ _3_0_7_,5_7_2_,_0_7_5_.0_1_ ___2_1_8_,6_5_1_,_0_2_1_.5_4_

    (III) Owner’s contributions and reduction in capital

    1. Capital contribution from owners - - - - - - - - - - - -

    2. Share-based payment recognised in shareholders' equity - - - - - - - - - - - -

    3. Others - - - - - - - - - - - -

    (IV) Profit distribution

    1. Transfer to surplus reserve - - 30,757,207.50 (30,757,207.50) - - - - - 30,757,207.50 (30,757,207.50) -

    2. Distribution to shareholders - - - (220,644,042.80) (220,644,042.80) (61,535,352.57) (282,179,395.37) - - - (220,644,042.80) (220,644,042.80)

    3. Others - - - - - - - - - - - -

    (V) Transfer within shareholders' equity

    1. Capitalisation of capital reserve - - - - - - - - - - - -

    2. Capitalisation of surplus reserve - - - - - - - - - - - -

    3. Loss made up by surplus reserve - - - - - - - - - - - -

    4. Others ___________-_ __ ___________-_ __ __________-_ __ ___________-_ __ ____________-_ __ __________-_ __ ____________-_ __ __________-_ __ _________-_ __ __________-_ __ __________-_ __ ____________-_ __

    I V. Balance at 31 December 2008 ____5__5__1__,6__1__0__,__1__0__7__.0__0__ ____4__3__7__,0__5__1__,__6__7__8__.2__4__ __1__8__3__,5__9__4__,__6__8__4__.7__6__ ____6__2__1__,3__8__6__,__1__7__7__.7__3__ __1__,__7__9__3__,6__4__2__,__6__4__7__.7__3__ __2__1__5__,1__8__1__,__2__4__2__.8__4__ __2__,__0__0__8__,8__2__3__,__8__9__0__.5__7__ __5__5__1__,__6__1__0__,1__0__7__.__0__0 4__2__4__,__6__8__1__,5__5__2__.__8__1 __1__8__3__,5__9__4__,__6__8__4__.7__6__ __2__8__8__,2__3__0__,__4__0__6__.5__5__ __1__,__4__4__8__,1__1__6__,__7__5__1__.1__2__

    The accompanying notes form part of the financial statements.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 8 -

    NOTES TO THE FINANCIAL STATEMENT

    FOR SIX MONTHS ENDED 2009

    I. GENERAL

    Shanghai Jin Jiang International Industrial Investment Co., Ltd. (the “Company”) was established

    in the People’s Republic of China (the “PRC”) as a joint stock company limited which was

    reformed from Shanghai Jin Jiang Tower on 24 February 1993. The public shares to the society

    and the foreign capital shares issued by the Company are being formally listed in Shanghai Stock

    Exchange. Its controlling shareholder is the Jin Jiang International (Group) Co., Ltd. Share capital

    information please refers to Note VIII, 26.

    The Company and its subsidiary (the “Group”) are engaged in vehicle operating, transportation

    services, travelling services, business services, hotel, property management, office leasing,

    development of real estate, providing field for stores.

    II. STATEMENT OF COMPLIANCE WITH THE ASBE

    The financial statements of the company have been prepared in accordance with new CASs, and

    present fairly, in all material respects, the company and consolidated financial position of the

    company as of 30 June 2009, and the company and consolidated results of its operations and cash

    flows for the year then ended.

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES

    1. Accounting year

    The Group has adopted the calendar year as its accounting year, i.e. from 1 January to 31

    December.

    2. Functional currency

    Renminbi (“RMB”) is the currency of the primary economic environment in which the

    Company and its subsidiaries operate. The functional currency of the Company and its

    subsidiaries is RMB. RMB is used as reporting currency to prepare the financial statements.

    3. Basis of accounting and principle of measurement

    The Group has adopted the accrual basis of accounting. Except for certain financial instruments

    which are measured at fair value, the Group has adopted the historical cost as the principle of

    measurement of the financial statements. Where assets are impaired, provisions for asset

    impairment are made in accordance with relevant requirements.

    4. Cash equivalents

    Cash equivalents are short-term, highly liquid investments that are readily convertible to known

    amounts of cash and which are subject to an insignificant risk of change in value.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 9 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    5. Translation of transactions denominated in foreign currencies

    On initial recognition, foreign currency transactions are translated by applying an exchange

    rate that approximates the actual spot exchange rate at the dates of the transactions.

    At the balance sheet date, foreign currency monetary items are translated to RMB using the

    spot exchange rate at that date. Exchange differences arising from the differences between the

    spot exchange rate prevailing at the balance sheet date and those spot rates used on initial

    recognition or at the previous balance sheet date are recognised in profit or loss for the period

    or shareholders’ equity.

    Foreign currency non-monetary items carried at historical cost shall continue to be measured

    at the amounts in functional currency translated using the spot exchange rates at the dates of

    the transactions; foreign currency non-monetary items carried at fair value are translated using

    the spot exchange rates at the date when the fair value was determined. Differences between

    the translated amount and the original amount of functional currency are accounted for as

    changes in fair value (including changes in foreign exchange rates) and included in profit or

    loss for the period or shareholders' equity.

    6. Fair value of financial instruments

    Fair value is the amount between knowledgeable, wiling parties, when they exchange the

    assets and pay the debt. If the market for a financial instrument is active, the group establishes

    its fair value based on the available observable market data. The data represent the actual

    transaction price in the fair trade, the price of which can be easily and regularly got from

    Stock Exchange, Brokedealer, guild and rated institution. If the market for a financial

    instrument is not active, the group establishes its fair value using a valuation technique.

    Valuation techniques include using recent arm’s length market transactions between

    knowledgeable,willing parties, if available, reference to the current fair value of another

    instrument that is substantially the same, discounted cash flow analysis and option pricing

    models.

    7. Recognition and measurement of financial assets

    All regular way purchase or sales of financial assets are recognised and derecognised on a

    settlement date basis. On initial recognition, financial assets are classified into the following

    categories: financial assets ‘at fair value through profit or loss’ (FVTPL), ‘held-to-maturity’

    investments, ‘loans and receivables’ and ‘available-for-sale’ (AFS) financial assets. Financial

    assets are initially recognised at fair value. For financial assets classified as at fair value through

    profit or loss, related transaction costs are charged to the profit or loss for the current period; for

    financial assets classified as other categories, related transaction costs are included in the initial

    recognition amounts.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 0 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    7. Recognition and measurement of financial assets - continued

    7.1. Financial assets at FVTPL

    Financial assets are classified as at FVTPL where the financial asset is either held for trading

    or it is designated as at FVTPL. All Financial assets at FVTPL of the Group are classified as

    held for trading.

    A financial asset is classified as held for trading if: (1) it has been acquired principally for the

    purpose of selling in the near future; or (2) it is part of a portfolio of identified financial

    instruments that are managed together and for which there is evidence of a recent actual

    pattern of short-term profit-taking; or (3) it is a derivative, except for a derivative that is a

    designated and effective hedging instrument, or a financial guarantee contract, or a derivative

    that is linked to and must be settled by delivery of an unquoted equity instrument (without a

    quoted price from an active market) whose fair value cannot be reliably measured.

    Financial assets at held for trading are subsequently measure at fair value, with gains or losses

    arising from changes in fair value as well as dividends and interest income related to such

    financial assets recognised in profit or loss for the current period.

    7.2. Loans and receivables

    Loans and receivables are non-derivative financial assets with fixed or determinable payments

    that are not quoted in an active market. The notes receivable, accounts receivable, dividends

    receivable and other receivable are included in this category.

    Loans and receivables are subsequently measured at amortised cost using the effective interest

    method. Gains or losses arising from derecognition, impairment or amortisation are

    recognised in profit or loss for the current period.

    The effective interest method is a method of calculating the amortised cost of a financial asset

    or a financial liability (or group of financial assets or financial liabilities) and of allocating the

    interest income or interest expense over the relevant period, using the effective interest rate.

    The effective interest rate is the rate that exactly discounts estimated future cash payments or

    receipts through the expected life of the financial instrument or, when appropriate, a shorter

    period to the net carrying amount of the financial asset or financial liability.

    When calculating the effective interest rate, the Group estimates the future cash flows

    considering all contractual terms of financial assets and financial liabilities (without

    considering future credit losses). The calculation includes all fees paid or received between

    the parties to the contract that are an integral part of the effective interest rate, transaction

    costs, and all other premiums or discounts.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 1 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    7. Recognition and measurement of financial assets - continued

    7.3. AFS financial assets

    AFS financial assets are those non-derivative financial assets that are designated as

    available-for-sale or are not classified as (1) financial assets at FVTPL, (2) loans and

    receivables, and (3) held-to-maturity investments.

    AFS financial assets are subsequently measured at fair value. Gains or losses arising from

    changes in fair value (other than impairment losses and foreign exchange gains and losses

    resulted from foreign currency monetary assets which are recognised in profit or loss for the

    current period) are recognised directly in shareholders' equity, and are reversed and recognised

    in profit or loss for the period when such financial assets are derecognised.

    Interest received during the period in which the Group holds the AFS financial assets and cash

    dividends declared by the investee are recognised as investment income.

    8. Impairment of financial assets

    The Group assesses the carrying amount of financial assets, other than those at FVTPL, at

    each balance sheet date. If there is objective evidence that financial assets are impaired the

    Group determines the amount of any impairment loss.

    Objective evidence that a financial asset is impaired includes observable data that comes to

    the attention of the holder of the asset about the following loss events:

    (1) Significant financial difficulty of the issuer or obligor;

    (2) A breach of contract, such as a default or delinquency in interest or principal payments;

    (3) The lender, for economic or legal reasons relating to the borrower’s financial difficulty,

    granting to the borrower a concession that the lender would not otherwise consider;

    (4) It becoming probable that the borrower will enter bankruptcy or other financial

    reorganization;

    (5) The disappearance of an active market for that financial asset because of financial

    difficultiers;

    (6) Observable data indicating that there is a measureable decrase in the estimated future cash

    flows from a group of financial assets since the initial recognition of those assets, although

    the decrease cannot yet be identified with the individual financial assets in the group,

    inclulding:

    - Adverse changes in the payment status of borrowers in the group;

    - National or local economic conditions that correlate with defaults on the assets in the

    group;

    (7) Significant changes with an adverse effect that have taken place in the technological,

    market, economic or legal environment in which the issuer operates, and indicates that the

    cost of the investment in the equity instrument may not be recovered;

    (8) A significant or prolonged decline in the fair value of an investment in an equity

    instrument below its cost;

    (9) Others

    Financial assets that are individually significant are subject to separate impairment assessment.

    Financial assets that are not individually significant should assessed separately or assessed

    together with those financial assets that have been individually evaluated for impairment and

    found not to be impaired grouped on the basis of similar credit risk characteristics. Those

    financial assets that have been individually evaluated for impairment and found to be impaired

    are not grouped on the basis of similar credit risk characteristics.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 2 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    8. Impairment of financial assets - continued

    - Impairment of loans and receivables

    The carrying amount of financial assets carried at cost or amortised cost is reduced to the

    present value of estimated future cash flows, with the reduced amount recognised as

    impairment losses and charged to profit or loss for the current period. If, after the recognition

    of impairment losses, the carrying amount of financial assets increases and the increase can be

    related objectively to an event occurring after the impairment was recognised, the previously

    recognised impairment losses are reversed through profit or loss to the extent that the carrying

    amount of the financial assets at the date the impairment is reversed does not exceed whtat the

    amortised cost would have been had the impairment not been recognised.

    - Impairment of AFS financial assets

    Where AFS financial assets are impaired, accumulated losses due to decreases in fair value

    previously recognised directly in capital reserve are reversed and charged to profit or loss for

    the current period. The reversed accumulated losses are the asset's initial acquisition costs

    after deducting amounts recovered and amortised, current fair value and impairment losses

    previously recognised in profit or loss.

    If, in a subsequent period, the carrying amount of financial assets increases and the increase

    can be related objectively to an event occurring after the impairment was recognised, the

    previously recognised impairment losses are reversed. The reversal of impairment losses of

    AFS equity instruments is recognised in equity, and the impairment losses of AFS debt

    instruments are recognised in profit or loss for the current period.

    Impairment losses incurred by the following are not reversed: (1) investments in an unquoted

    equity instrument (without a quoted price in an active market) whose fair value cannot be

    reliably measured; or (2) derivatives financial assets linked to and must be settled by delivery

    of such an unquoted equity instrument.

    9. Derecognition of financial assets

    The Group derecognises a financial asset only when: (1) the contractual rights to the cash

    flows from the financial asset expire; or (2) it transfers the financial asset and substantially all

    the risks and rewards of ownership of the asset to another entity; or (3) it transfers the

    financial asset, neither transfers nor retains substantially all the risks and rewards of

    ownership but has not retained control over the financial assets.

    10. Inventories

    Inventories are classified in merchandise, spare parts, consumable items, and food & beverage.

    Inventories are initially measured at cost. Cost of inventories comprises all costs of purchase,

    costs of conversion and other expenditures incurred in bringing the inventories to their present

    location and condition.

    Inventories are accounted for using the actual costing method. Cost of spare parts for vehicle

    operating business is calculated using the weighted average cost method. For remainings,

    other than cost of consumable items using the weighted average cost method, are calculated

    using the first-in, first-out method.

    The perpetual inventory system is adopted for stock count.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 3 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    11. Provision for decline in value of inventories

    At the balance sheet date, inventories are measured at the lower of cost and net realisable

    value. If the cost of inventories is higher than the net realisable value, a provision for decline

    in value of inventories shall be recognised. For large quantity and low value items of

    inventories, provision may be made based on categories of inventories. For other inventories,

    the excess of cost over the net realisable value is generally recognised as provision for decline

    in value of inventories on an item-by-item basis.

    After provision for decline in value of inventories has been made, if the circumstances that

    previously caused inventories to be written down no longer exist which results in the net

    realisable value is higher than the carrying amount, the amount of the write-down shall be

    reversed in profit or loss; the reversal shall be limited to the amount originally provided for

    the decline in value of inventories.

    Net realisable value is the estimated selling price in the ordinary course of business less the

    estimated costs of completion and the estimated costs necessary to make the sale and relevant

    taxes. Purpose of inventories being held and effect of the post balance sheet events shall be

    taken into consideration in determining the net realisable value based on the conclusive

    evidence available.

    12. Investment property

    Investment property is a property held to earn rentals or for capital appreciation or both,

    comprising a land use right that is leased out, a land use right held for transfer upon capital

    appreciation and a building that is leased out.

    An investment property is initially measured at cost. Subsequent expenditures incurred on an

    investment property are recognised as cost of the investment property only when: 1) it is

    probable that economic benefits associated with the investment property will flow to the

    Group; and 2) the cost of the investment property can be measured reliably. Subsequent

    expenditures that fail to meet such recognition criteria shall be recognised in profit or loss in

    the period in which they are incurred.

    The Group uses the cost model for subsequent measurement of an investment property, and

    adopts the depreciation or amortisation policy consistent with that applicable to buildings or

    land use right.

    When a property held as owner-occupied property or inventories is transferred to investment

    property, or a property held as investment property is transferred to owner-occupied property,

    the carrying amount of a property before its transfer shall be regarded as the recorded amount

    after its transfer.

    When an investment property is sold, transferred, retired or damaged, the amount of any

    proceeds on disposal net of the carrying amount and related taxes is recognised in profit or

    loss for the current period.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 4 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    13. Long-term equity investments

    For a long-term equity investment acquired through a business combination involving

    enterprises under common control, the initial investment cost of the long-term equity

    investment shall be the absorbing party’s share of the carrying amount of the shareholders’

    equity of the party being absorbed at the date of combination. For a long-term equity

    investment acquired through business combination not involving enterprises under common

    control, the initial investment cost of the long-term equity investment acquired shall be the

    cost of acquisition. The long-term equity investment acquired through means other than a

    business combination shall be initially measured at its cost.

    Where the Group does not have joint control or significant influence over the investee, the

    investment is not quoted in an active market and its fair value cannot be reliably measured, a

    long-term equity investment shall be accounted for using the cost method. Where the Group

    can exercise joint control or significant influence over the investee, a long-term equity

    investment shall be accounted for using the equity method. Where the Group does not have

    control, joint control or significant influence over the investee and the fair value of the

    long-term equity investment can be reliably measured, the investment shall be accounted for

    as an available-for-sale financial asset.

    A long-term equity investment where the Group can exercise control over the investee shall be

    accounted for using the cost method.

    Control is the power to govern the financial and operating policies of an entity so as to obtain

    benefits from its operating activities. Joint control is the contractually agreed sharing of

    control over an economic activity, and exists only when the strategic financial and operating

    decisions relating to the activity require the unanimous consent of the parties sharing control.

    Significant influence is the power to participate in the financial and operating policy decisions

    of the investee but is not control or joint control over those policies.

    13.1. A long-term equity investment accounted for using the cost method

    Under the cost method, a long-term equity investment is measured at initial investment cost.

    Investment income recognised shall be limited to the amount distributed to it out of

    accumulated net profits of the investee that arose after the investment was made. Any cash

    dividends or distributions received in excess of this amount shall be treated as return of initial

    investment cost to reduce the carrying amount of the investment.

    13.2. A long-term equity investment accounted for using the equity method

    Under the equity method, where the initial investment cost of a long-term equity investment

    exceeds the Group’s interest in the fair values of the investee’s identifiable net assets at the

    acquisition date, no adjustment is made to the initial investment cost. Where the initial

    investment cost is less than the Group’s interest in the fair values of the investee’s identifiable

    net assets at the acquisition date, the difference is charged to profit or loss for the current

    period, and the cost of the long-term equity investment is adjusted accordingly.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 5 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    13. Long-term equity investments - continued

    13.2. A long-term equity investment accounted for using the equity method - continued

    Under the equity method, investment income or loss represents the Group’s share of the net

    profits or losses made by the investee for the current period. The Group recognises its share of

    the investee’s net profits or losses based on the fair values of the investee’s individual

    separately identifiable assets at the acquisition date, after making appropriate adjustments

    thereto in conformity with the accounting policies and accounting periods of the Group. For

    the unrealized profit or loss between the group and an associate or joint venture, the part

    belongs to the group, calculated with ratio held by the group, should be offset. Accordingly,

    the group recognizes investment income. But if the unrealized loss is related with an

    impairment of the assets transferred between the group and the investee, according to the

    Accounting Standards for Business Enterprises No.8-Impairment of Assets, the loss can't be

    offset. For any changes in shareholder’s equity other than net profits or losses in the investee,

    the Group adjusts the carrying amount of the long-term equity investment and include the

    corresponding adjustment in shareholders' equity.

    The Group’s share of net losses of the investee is recognised to the extent that the carrying

    amount of the long-term equity investment together with any long-term interests that in

    substance form part of the investor’s net investment in the investee are reduced to zero. If the

    Group has to assume additional obligations, the estimated obligation assumed is provided for

    and charged to the profit or loss as investment loss for the period. Where the investee records

    profits in subsequent periods, the Group resumes recognising its share of profits after setting

    off profits against the unrecognised share of losses.

    For a long-term equity investment in an associate or joint venture held prior to first-time

    adoption date, if an equity investment debit balance associated with the investment exists, the

    amount amortised on a straight-line basis during the remaining period is recognised in profit

    or loss for the current period.

    13.3. Disposal of a long-term equity investment

    On disposal of a long-term equity investment, the difference between the proceeds actually

    received and the carrying amount is recognised in profit or loss for the current period. For a

    long-term equity investment accounted for using the equity method, any changes in the

    owners’ equity of the investee (other than net profits or losses) included in the shareholders’

    equity of the Group, is transferred to profit or loss for the current period on a pro-rata basis

    according to the proportion disposed of.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 6 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    14. Fixed assets and depreciation

    Fixed assets are tangible assets that are held for use in the production or supply of services, for

    rental to others, or for administrative purposes and have useful lives more than one accounting

    year.

    A fixed asset shall be initially measured at cost and the effect of any expected costs of

    abandoning the asset at the end of its use. For fixed assets of the Group, the depreciation is

    provided to write off the cost of each category of fixed assets over their estimated useful lives

    from the month after they are put into use, using the straight-line method. The estimated useful

    life, residual value and annual depreciation rate of each category of fixed assets are as follows:

    Annual

    Category of fixed assets Useful life (years) Residual value depreciation rate

    Buildings 20-50 4-10% 1.8-4.8%

    Plant and machinery 5-20 4-10% 4.8-19.2%

    Electronic equipment, furniture and

    fixtures 3-10 4-10% 9.0-32.0%

    Operational vehicle 4-10 4-10% 9.0-22.5%

    Other transportation equipment 5-10 4-10% 9.0-19.2%

    Hotel improvement 5 - 20%

    Estimated net residual value of a fixed asset is the estimated amount that the Group would

    currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if

    the asset were already of the age and in the condition expected at the end of its useful life.

    Subsequent expenditures incurred for a fixed asset shall be included in the cost of the fixed

    asset, only if it is probable that economic benefits associated with the asset will flow to the

    Group and the relevant cost can be measured reliably; meanwhile the carrying amount of the

    replaced part shall be derecognised. Other subsequent expenditures that fail to meet the

    capitalisation criteria shall be charged to profit or loss when incurred.

    The Group shall review the useful life and estimated net residual value of a fixed asset and the

    depreciation method applied at least at each financial year-end. A change in the useful life or

    estimated net residual value of a fixed asset or the depreciation method used shall be

    accounted for as a change in an accounting estimate.

    When a fixed asset is sold, transferred, retired or damaged, the Group shall recognise the

    amount of any proceeds on disposal of the asset net of the carrying amount and related taxes in

    profit or loss for the current period.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 7 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    15. Construction in progress

    Cost of construction in progress is determined as the expenditure actually incurred for the

    construction, comprising all expenditure incurred for construction projects, and other related

    expenses. Construction in progress is reclassified as fixed assets when it has reached working

    condition for its intended use.

    16. Intangible assets

    An intangible asset is an identifiable non-monetary asset without physical substance owned or

    controlled by the Group.

    An intangible asset shall be initially measured at cost. The expenditures incurred on an

    intangible asset shall be recognised as cost of the intangible asset only if: 1) it is probable that

    economic benefits associated with the asset will flow to the Group; and 2) the cost of the asset

    can be measured reliably. Other expenditures on an intangible asset that fail to meet the

    recognition criteria shall be charged to profit or loss when incurred.

    Land-use right acquired shall normally be recognised as an intangible asset. Self-constructed

    buildings (e.g. plants), related land-use right and the buildings shall be separately accounted

    for as an intangible asset and fixed asset. For buildings purchased, the purchase consideration

    shall be allocated among the buildings and land-use right on a reasonable basis. In case there

    is difficulty in making a reasonable allocation, the consideration shall be recognised in full as

    fixed assets.

    An intangible asset with a finite useful life shall be amortised using the straight-line method

    over its useful life when the asset is available for use. An intangible asset with an indefinite

    useful life shall not be amortised.

    For an intangible asset with a finite useful life, the Group shall review the useful life and

    amortisation method at least at each financial year-end. A change in the useful life or the

    amortisation method used shall be accounted for as a change in an accounting estimate. For an

    intangible asset with an indefinite useful life, the Group shall reassess the useful life of the

    asset in each accounting period. If there is evidence indicating that the useful life of that

    intangible asset is finite, the Group shall estimate the useful life of that asset and apply the

    amortisation policy applicable to an intangible asset with a finite useful life accordingly.

    17. Long-term prepayments

    Long-term prepayments are various expenditures incurred but that should be allocated over

    the current and future periods of more than one year. Long-term prepayments are evenly

    amortised over the respective beneficial period.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 8 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    18. Non-current assets held for sale

    The Group shall classify a non-current asset as held for sale if its carrying amount will be

    recovered principally through a sale transaction rather than through continuing use and the

    transaction shall be accomplished within one year. The Group shall not depreciate (or amortise)

    a non-current asset while it is classified as held for sale. The Group shall measure a

    non-current asset classified as held for sale at the lower of its carrying amount and fair value

    less costs to sell. The Group shall present a non-current asset classified as held for sale

    separately from other assets in the statement of financial position.

    19. Impairment of non-financial assets

    The Group shall assess at the balance sheet date whether there is any indication that long-term

    equity investments in subsidiaries, associates and joint ventures, investment properties, fixed

    assets, construction in progress, intangible assets with finite useful life may be impaired. If

    there is any indication that an asset may be impaired, recoverable amount shall be estimated

    for the individual asset. If it is not possible to estimate the recoverable amount of the

    individual asset, the Group shall determine the recoverable amount of the asset group to which

    the asset belongs. If the recoverable amount of an asset is less than its carrying amount, the

    difference shall be recognised as an impairment loss and charged to profit or loss for the

    current period.

    An intangible asset with an indefinite useful life shall be tested for impairment annually,

    irrespective of whether there is any indication that the asset may be impaired.

    The recoverable amount of an asset is the higher of its fair value less costs of disposal and the

    present value of the future cash flows expected to be derived from the asset. An asset’s fair

    value is the price in a sale agreement in an arm’s length transaction. If there is no sale

    agreement but an asset is traded in an active market, fair value shall be the current bid price. If

    there is no sales agreement or active market for an asset, fair value shall be based on the best

    information available. Costs of disposal include legal costs related to the disposal of the asset,

    related taxes, costs of removing the asset and direct costs incurred in bringing the asset into

    the condition for its intended sale.

    Once an impairment loss on the long-term equity investment in subsidiaries, associates and

    joint ventures, investment properties, fixed assets, construction in progress, intangible assets

    with finite useful life is recognised, it shall not be reversed in a subsequent period.

    20. Financial liabilities

    On initial recognition, financial liabilities are classified as either financial liabilities at ‘fair

    value through profit or loss’ (FVTPL) or ‘other financial liabilities’. Financial liabilities are

    initially recognised at fair value. For financial liabilities classified as at fair value through

    profit or loss, related transaction costs are charged to the profit or loss for the current period;

    for financial liabilities classified as other categories, related transaction costs are included in

    the initial recognition amounts.The Group do not hold financial liabilities at ‘fair value

    through profit or loss’ (FVTPL) at present.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 1 9 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    20. Financial liabilities - continue

    20.1. Other financial liabilities

    Other financial liabilities are subsequently measured at amortised cost using the effective

    interest method; gains or losses arising from derecognition or amortisation is recognised in

    profit or loss for the period.

    20.2. Financial guarantee contract

    Financial guarantee contracts other than those designated as financial liabilities at FVTPL are

    initially recognised at fair value, and shall be subsequently measured at the higher of the

    following two amounts: (1) the amount determined in accordance with Accounting Standard

    for Business Enterprises No. 13 – Contingencies; and (2) the amount initially recognised less

    cumulative amortisation recognised in accordance with the principles set out in Accounting

    Standard for Business Enterprises No. 14 – Revenue.

    21. Employee benefits

    In the accounting period in which an employee has rendered services, the Group recognises

    the employee benefits for those services as a liability.

    Expenditures related to payments for employees' social welfare system established by the state,

    including pensions, medical insurance, housing funds and other social welfare contributions,

    shall be included in the cost of related assets or profit or loss for the period in which they are

    incurred.

    When the Group terminates the employment relationship with employees before the end of the

    employment contracts or provides compensation as an offer to encourage employees to accept

    voluntary redundancy, if the Group has a formal plan for termination of employment

    relationship or has made an offer for voluntary redundancy which will be implemented

    immediately, and at the same time the Group cannot unilaterally withdraw from the

    termination plan or the redundancy offer, a provision shall be recognised for the compensation

    arising from termination of employment relationship with employees, with a corresponding

    charge to the profit or loss for the current period.

    An internal retirement plan is accounted for using the same principles as described above.

    Salaries and social insurance contributions to be paid to the internally retired employees by

    the Group during the period from the date when the employee ceases to provide services to the

    normal retirement date are recognised in profit or loss for the period when the recognition

    criteria for provisions are met (termination benefits).

    22. Offsetting a financial asset and a financial liability

    Financial assets and financial liabilities shall be presented separately in the balance sheet and

    shall not be offset. However, a financial asset and a financial liability shall be offset and the

    net amount presented in the balance sheet when both of the following conditions are satisfied:

    (1) the Group has a legal right to set off the recognised amounts and the legal right is currently

    enforceable; and (2) the Group intends either to settle on a net basis, or to realise the financial

    asset and settle the financial liability simultaneously.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 0 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    23. Equity instruments

    An equity instrument is any contract that evidences a residual interest in the assets of the

    Group after deducting all of its liabilities; transaction costs incurred for the issue of equity

    instruments in a business combination shall be deducted from the premium arising from issue

    of equity instruments. The consideration and transaction costs paid to reacquire its own equity

    instruments shall be deducted from owners’ equity. Any gain or loss on the issue, reacquisition,

    sale or cancellation of the Group's own equity instruments are not recognised.

    All types of distributions made by the Group to holders of equity instruments (excluding stock

    dividends) are deducted from owners’ equity. The Group does not recognise changes in the

    fair value of equity instruments.

    24. Principle of revenue recognition

    24.1 Revenue from the sale of goods

    Revenue from the sale of goods shall be recognised only when all of the following conditions

    are satisfied: (1) the Group has transferred to the buyer the significant risks and rewards of

    ownership of the goods; (2) the Group retains neither continuing managerial involvement to

    the degree usually associated with ownership nor effective control over the goods sold; (3) the

    amount of revenue can be measured reliably; (4) it is probable that the associated economic

    benefits will flow to the Group; and (5) the associated costs incurred or to be incurred can be

    measured reliably.

    24.2 Revenue arising from the rendering of services

    When the outcome of a transaction involving the rendering of services can be estimated

    reliably, at the balance sheet date, revenue associated with the transaction is recognised using

    the percentage of completion method. The stage of completion of a transaction involving the

    rendering of services is determined according to the proportion of services performed to date

    to the total services to be performed.

    The outcome of a transaction involving the rendering of services can be estimated reliably

    when all of the following conditions are satisfied: (1) the amount of revenue can be measured

    reliably; (2) it is probable that the associated economic benefits will flow to the Group; (3) the

    stage of completion of the transaction can be measured reliably; and (4) the costs incurred and

    to be incurred for the transaction can be measured reliably.

    When the outcome of a transaction involving the rendering of services cannot be estimated

    reliably, when the costs incurred are expected to be recoverable, revenue shall be recognised

    to the extent of costs incurred that are expected to be recoverable and the service costs

    incurred shall be charged to profit or loss for the period; when the costs incurred are not

    expected to be recoverable, no service revenue shall be recognised.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 1 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    24. Principle of revenue recognition - continued

    24.3 Revenue arising from the use by others of enterprise assets

    Revenue arising from the use by others of enterprise assets shall be recognised only when both

    of the following conditions are satisfied:

    (1) it is probable that the associated economic benefits will flow to the enterprise; and

    (2) the amount of the revenue can be measured reliably.

    24.4. Interest income

    Interest income is measured based on the length of time for which the enterprise's cash is used

    by others and the applicable interest rate.

    25. Government grants

    Government grants are transfer of monetary assets or non-monetary assets from the

    government to the Group at no consideration. Government grants are classified into

    government grants related to assets and government grants related to income.

    If a government grant is in the form of a transfer of a monetary asset, the item shall be

    measured at the amount received or receivable. If a government grant is in the form of a

    transfer of a non-monetary asset, the item shall be measured at fair value. A government grant

    measured at a nominal amount shall be recognised immediately in profit or loss for the current

    period.

    A government grant related to an asset shall be recognised as deferred income, and evenly

    amortised to profit or loss over the useful life of the related asset. For a government grant

    related to income, if the grant is a compensation for related expenses or losses to be incurred

    in subsequent periods, the grant shall be recognised as deferred income, and recognised in

    profit or loss over the periods in which the related costs are recognised; if the grant is a

    compensation for related expenses or losses already incurred, the grant shall be recognised

    immediately in profit or loss for the current period.

    For the repayment of a government grant already recognised, if there is any related deferred

    income, the repayment shall be offset against the carrying amount of the deferred income, and

    any excess shall be recognised in profit or loss for the current period; if there is no related

    deferred income, the repayment shall be recognised immediately in profit or loss for the

    current period.

    26. Borrowing costs

    Borrowing costs include interest, amortisation of discounts or premiums related to borrowings,

    ancillary costs incurred in connection with the arrangement of borrowings, and exchange

    differences arising from foreign currency borrowings. The amount of borrowing costs incurred

    shall be recognised as an expense in the period in which they are incurred.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 2 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    27. Income taxes

    27.1. Current income taxes

    At the balance sheet date, current income tax liabilities (or assets) for the current and prior

    periods shall be measured at the amount expected to be paid (or recovered) according to the

    requirements of tax laws. Taxable profits, which are the basis for calculating the current tax

    expense, are determined after adjusting the accounting profits before tax for the year in

    accordance with relevant requirements of tax laws.

    27.2. Deferred tax assets and deferred tax liabilities

    Temporary differences arising from the difference between the carrying amount of an asset or

    liability and its tax base, or the difference between the tax base and the carrying amount of

    those items that are not recognised as assets or liabilities but have a tax base that can be

    determined according to tax laws, shall be recognised as deferred tax assets and deferred tax

    liabilities using the balance sheet liability method.

    Deferred tax liabilities are not recognised for taxable temporary differences related to (1) the

    initial recognition of goodwill; and (2) the initial recognition of an asset or liability in a

    transaction which is neither a business combination nor affects accounting profit or taxable

    profit (or deductible loss) at the time of the transaction. In addition, the Group recognises the

    corresponding deferred tax liability for taxable temporary differences associated with

    investments in subsidiaries, associates and joint ventures, except when both of the following

    conditions are satisfied: (1) the Group is able to control the timing of the reversal of the

    temporary difference; and (2) it is probable that the temporary difference will not reverse in the

    foreseeable future.

    Deferred tax assets are not recognised for deductible temporary differences related to the

    initial recognition of an asset or liability in a transaction which is neither a business

    combination nor affects accounting profit or taxable profit (or deductible loss) at the time of

    the transaction. In addition, the Group recognises the corresponding deferred tax asset for

    deductible temporary differences associated with investments in subsidiaries, associates and

    joint ventures to the extent that it is probable that taxable profits will be available against

    which the deductible temporary differences can be utilised, except when both of the following

    conditions are satisfied: (1) it is not probable that the temporary difference will reverse in the

    foreseeable future; and (2) it is not probable that taxable profits will be available in the future,

    against which the temporary difference can be utilised.

    The Group recognises a deferred tax asset for the carryforward of deductible losses and tax

    credits to subsequent periods, to the extent that it is probable that future taxable profits will be

    available against which the deductible losses and tax credits can be utilised.

    At the balance sheet date, deferred tax assets and deferred tax liabilities are measured at the

    tax rates that are expected to apply to the period when the asset is realised or the liability is

    settled, according to the requirements of tax laws.

    At the balance sheet date, the Group shall review the carrying amount of a deferred tax asset.

    If it is probable that sufficient taxable profits will not be available in future periods to allow

    the benefit of the deferred tax asset to be utilised, the carrying amount of the deferred tax asset

    shall be reduced. Any such reduction in amount shall be reversed when it becomes probable

    that sufficient taxable profits will be available.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 3 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    27. Income taxes - continued

    27.3. Tax expense

    Tax expense comprises current tax expense and deferred tax expense.

    Current tax expense (current tax income) and deferred tax expense (deferred tax income) are

    included in profit or loss for the current period, except for: (1) current tax and deferred tax

    related to transactions or events that are directly recognised in owners’ equity, which are

    recognised directly in owners’ equity; (2) deferred tax arising from a business combination,

    which is adjusted against the carrying amount of goodwill.

    27.4. Offsetting a deferred tax asset and a deferred tax liability

    Deferred tax assets and liabilities are offset when:

    (1)The deferred taxes are relate to the same tax payer within the group and same fiscal

    authority, and; (2)That tax payer has a legally enforceable right to offset current tax assets

    against current tax liabilities.

    28. Business combinations

    A business combination is a transaction or event that brings together two or more separate

    enterprises into one reporting entity. Business combinations are classified into business

    combinations involving enterprises under common control and business combinations not

    involving enterprises under common control.

    The Group recognises assets and liabilities obtained through a business combination at the

    combination date or acquisition date. A combination date or acquisition date is the date on

    which the absorbing party or acquirer effectively obtains control of the party being absorbed

    or acquiree i.e. the date on which the net assets or control over production and operational

    decisions of the party being absorbed or acquiree are transferred to the absorbing party or

    acquirer.

    28.1 business combination involving enterprises under common control

    A business combination involving enterprises under common control is a business

    combination in which all of the combining enterprises are ultimately controlled by the same

    party or parties both before and after the combination, and that control is not transitory. The

    party that, on the combination date, obtains control of another enterprise participating in the

    combination is the absorbing party, while that other enterprise participating in the combination

    is a party being absorbed.

    Assets and liabilities that are obtained by the absorbing party in a business combination shall

    be measured at their carrying amounts at the combination date as recorded by the party being

    absorbed. The difference between the carrying amount of the net assets obtained and the

    carrying amount of the consideration paid for the combination (or the aggregate face value of

    shares issued as consideration) shall be adjusted to capital premium in capital reserve. If the

    capital premium in capital reserve is not sufficient to absorb the difference, any excess shall be

    adjusted against retained earnings.

    Costs incurred by the absorbing party that are directly attributable to the combination shall be

    charged to profit or loss in the period in which they are incurred.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 4 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    28. Business combinations - continued

    28.2 business combination not involving enterprises under common control

    A business combination not involving enterprises under common control is a business

    combination in which all of the combining enterprises are not ultimately controlled by the

    same party or parties before and after the combination. For a business combination not

    involving enterprises under common control, the party that, on the acquisition date, obtains

    control of another enterprise participating in the combination is the acquirer, while that other

    enterprise participating in the combination is the acquiree.

    For a business combination not involving enterprises under common control, the cost of

    combination is the aggregate of the fair values, at the acquisition date, of the assets given,

    liabilities incurred or assumed, and equity securities issued by the acquirer in exchange for

    control of the acquiree, as well as costs incurred by the acquirer that are directly attributable to

    the business combination. For a business combination achieved in stages that involves

    multiple exchange transactions, the cost of combination is the aggregate of the costs of

    individual transactions. When a business combination contract provides for an adjustment to

    the cost of combination contingent on a future event, the acquirer shall include the amount of

    that adjustment in the cost of the combination if it is expected on the acquisition date that the

    occurrence of the future event is probable and the amount affecting the cost of combination

    can be measured reliably.

    The acquiree’s identifiable assets, liabilities and contingent liabilities that satisfy the

    recognition criteria, which are acquired in a business combination not involving enterprises

    under common control, are measured at their fair value at the acquisition date.

    Where the cost of combination exceeds the acquirer’s interest in the fair value of the

    acquiree’s identifiable net assets, the difference shall be recognised as goodwill. Where the

    cost of combination is less than the acquirer’s interest in the fair value of the acquiree’s

    identifiable net assets, the difference shall be accounted for as follows: firstly, the acquirer

    shall reassess the measurement of the fair values of the acquiree’s identifiable assets, liabilities

    and contingent liabilities and measurement of the cost of combination; then, if after that

    reassessment, the cost of combination is still less than the acquirer’s interest in the fair value

    of the acquiree’s identifiable net assets, the acquirer shall recognise the remaining difference

    immediately in profit or loss for the current period.

    29. Leases

    A finance lease is a lease that transfers in substance all the risks and rewards incidental to

    ownership of an asset. Title may or may not eventually be transferred. An operating lease is a

    lease other than a finance lease.

    29.1.Recording of operating leases by the Group as lessee

    Lease payments under an operating lease are recognised on a straight-line basis over the lease

    term. Significant initial direct costs are capitalised when incurred and charged to profit or loss for

    the corresponding period according to the same basis for rental income recognition; while other

    insignificant initial direct costs are charged to profit or loss for the period in which they are

    incurred. Contingent rents are charged to profit or loss in the period in which they are actually

    incurred.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 5 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    29. Leases - continued

    29.2. Recording of operating leases by the Group as lessor

    Lease income from operating leases is recognised in profit or loss on a straight-line basis over

    the lease term. Initial direct costs are charged to profit or loss for the current period.

    Contingent rents are credited to profit or loss in the period in which they actually arise.

    30. Preparation of consolidated financial statements

    The scope of consolidated financial statements is determined on the basis of control. Control

    is the power to govern the financial and operating policies of an enterprise so as to obtain

    benefits from its operating activities.

    The date on which the Group effectively obtains or loses control of its subsidiaries are

    considered as the combination date or acquisition date. For a subsidiary already disposed of,

    its operating results and cash flows before the disposal date are appropriately included in the

    consolidated income statement and the consolidated cash flow statement; for a subsidiary

    disposed of during the current period, no adjustments are made to the opening balance of the

    consolidated balance sheet. Where a subsidiary has been acquired through a business

    combination not involving enterprises under common control, the subsidiary’s operating

    results and cash flows after the acquisition date are appropriately included in the consolidated

    income statement and the consolidated cash flow statement, and no adjustments are made to

    the opening balance and comparative figures of the consolidated financial statements. Where a

    subsidiary has been acquired through a business combination involving enterprises under

    common control, the subsidiary’s operating results and cash flows from the beginning of the

    reporting period to the combination date are appropriately included in the consolidated income

    statement and the consolidated cash flow statement, and adjustments are made to the

    comparative figures of the consolidated financial statements accordingly.

    Major accounting policies and accounting periods adopted by the subsidiary(ies) are defined

    according to the standardised accounting policies and accounting periods established by the

    Company.

    All significant intra-group accounts and transactions between the Company and its

    subsidiaries or between subsidiaries are eliminated on consolidation.

    The portion of a subsidiary’s equity that is not attributable to the parent is treated as minority

    interest and presented as “minority interest” in the consolidated balance sheet within owners’

    equity. The portion of net profits or losses of subsidiaries for the period attributable to

    minority interest is presented in the consolidated income statement below the "net profit" line

    item as “minority interest”. When the amount of loss attributable to the minority shareholders

    of a subsidiary exceeds the minority shareholders’ portion of the opening balance of owners'

    equity of the subsidiary, where the minority shareholders have a binding obligation under the

    articles of association or an agreement and are able to make an additional investment to cover

    the loss, the excess amount shall be allocated against minority interest; otherwise the excess

    amount shall be allocated against shareholders' equity attributable to the parent. If the

    subsidiary subsequently reports profits, such profits shall be allocated to shareholders' equity

    attributable to the parent until the minority shareholders' share of losses previously absorbed

    by the parent has been recovered.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 6 -

    III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued

    31. Related parties

    If a party has the power to control, jointly control or exercise significant influence over

    another party, they are regarded as related parties. Two or more parties are also regarded as

    related parties if they are subject to control, joint control or significant influence from the

    same party.

    IV. BASIS OF DETERMINING SIGNIFICANT ACCOUNTING POLICIES AND KEY

    ASSUMPTIONS AND UNCERTAINTIES IN ACCOUNTING ESTIMATES

    In the application of the Group’s accounting policies, which are described in Note III, the Group

    is required to make judgements, estimates and assumptions about the carrying amounts of items in

    the financial statements that cannot be measured accurately. These judgements, estimates and

    assumptions are based on historical experience of the Group's management as well as other

    factors that are considered to be relevant. Actual results may differ from these estimates.

    The aforementioned judgements, estimates and assumptions are reviewed regularly on a going

    concern basis. Revisions to accounting estimates are recognised in the period in which the

    estimate is revised if the revision affects only that period, or in the period of the revision and

    future periods if the revision affects both current and future periods.

    - Critical judgements in applying accounting policies

    The following are the critical judgements that the Group has made in the process of applying the

    accounting policies and that have the most significant effect on the amounts recognised in

    financial statements.

    The useful life of the operational license of taxi

    The useful year of the operational license of taxi held by the Group will not be expired. The

    Group management believes the operational license of taxi will be in use and bring in expected

    inflow economical benefits in the foreseeable future. Therefore its useful life is infinite.

    V. CHANGES IN ACCOUNTING ESTIMATES

    In order to be more fairly to present the financial position and operating results of the company, to

    provide more accurate accounting information, in accordance with Accounting Standards for

    Business Enterprise, combined with considering about the characteristics of assets and the actual

    situation of their lifetime, the company has changed the depreciation policy of "taxies and

    minibus" of fixed-assets from double decline balance method over 6 years to straight-line method

    over 4 years, as well as the residual value rate was changed from 5% to 10%.

    The date of change in accounting estimates is 1 April 2009, and the estimated impact of the

    change to the current net profit is increasing by RMB 3,581,500.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 7 -

    VI. TAXES

    Business tax

    The business tax is levied at 3% of deemed taxi operating income and long distance transportation

    income.

    The business tax is levied at 3% of other vehicle operating income.

    The business tax is levied at 5% of other service income.

    Value added tax

    Value added tax (“VAT”) on sales is calculated at 17% on revenue from principal operations and

    paid after deducting input VAT on purchases.

    Income tax

    The effective income tax rate of the Company is 20% for this year (18% for year 2008).

    According to the Law of the People’s Republic of China on Enterprise Income Tax published on 16 March

    2007, the origin income tax rate of the Company is 25% from 1 January 2008. The company is

    located in Shanghai Pudong New Province, and the effective income tax rates of the Company for

    the coming years are listed as below:

    Effective

    income tax rate

    Year 2008 18%

    Year 2009 20%

    Year 2010 22%

    Year 2011 24%

    Year 2012 and after 25%

    Except the following subsidiaries, the income tax rate of remaining subsidiaries is 25%:

    Company names Effective rate in 2009

    Shanghai Jin Jiang Automobile Service Co., Ltd. 20% (Note1)

    Shanghai JHJ Logistic Management Co., Ltd. 20% (Note1)

    Shanghai Jin Jiang International Refrigerated Logistic Co., Ltd. 20% (Note1)

    Shanghai Jin Jiang Business and Travel Auto Services Co., Ltd. 20% (Note1)

    Shanghai Pudong Friendship Automobile Services Co., Ltd. 20% (Note1)

    Shanghai Jin Jiang Automobile Leasing Co., Ltd. 20% (Note1)

    Shanghai Jinjia Automobile Trading Co., Ltd. 20% (Note1)

    Shanghai Jin Jiang Public Traffic Co., Ltd. 20% (Note1)

    Shanghai Jinyue Automobile Consulting Co., Ltd. deemed (Note2)SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 8 -

    VI. TAXES - continued

    Other taxes

    City construction tax is levied at 7% on turnover tax.

    Eduation additional tax is levied at 3% on turnover tax.

    River management fee is levied at 1% on turnover tax.

    Note 1: These companies were registered in Pudong New Area and the effective income tax rate of

    these companies for this year is 20%.

    Note 2: With approval of the tax bureau, the income tax of Shanghai Jinyue Automobile

    Consulting Co., Ltd. is levied at the basis of 10% of revenue with income tax rate of 25%.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 2 9 -

    VII. SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS

    Proportion of

    The Group’s ownership

    actual interest

    Nature of Organisation Legal Place of Registered investment held by the

    Names business code representative incorporation Business scope Capital at year end Group

    RMB’000 RMB’000 %

    Subsidiaries owned by the Group from the

    beginning to the end of this period

    - Subsidiaries set up by the Company

    Shanghai JHJ Logistic Management Co., Ltd. Limited company 60720956-4 Yang Yuan-Ping Shanghai Logistic management 80,000 52,000 65

    Shanghai Jin Jiang International Limited company 792741797 Zhang Guo-Mei Shanghai Logistic management 100,000 100,000 100

    Refrigerated Logistic Co., Ltd

    - Subsidiaries acquired through business combinations

    involving enterprises under common control

    Shanghai Jin Jiang Automobile Service Co., Ltd. Limited company 13373676-7 Yang Yuan-Ping Shanghai Taxi service and car rental service 338,486 538,136 95

    Shanghai Jin Jiang Business and Travel Limited company 734552795 Rong Ping-Tao Shanghai Bus services and consulting 70,000 34,300 50

    Auto Services Co., Ltd. (Note1)

    Shanghai Pacific Passenger Transport Limited company 133048729 Rong Ping-Tao Shanghai Coach Service 2,000 2,000 100

    Service Co., Ltd.

    Shanghai Jin Jiang High-speed Limited company 631318058 Xu Wen-Zhong Shanghai Coach Service 10,000 10,000 100

    Transportation Co., Ltd.

    Shanghai Business and Travel Limited company 740586932 Rong Ping-Tao Shanghai Investment and management service 16,000 16,000 100

    Investment Consulting Co., Ltd.

    Shanghai Pudong Friendship Limited company 133700887 Wu Xiao-Guo Shanghai Taxi service and car rental service 5,610 4,930 87.83

    Automobile Service Co., Ltd.

    Shanghai Jin Jiang Public Traffic Co., Ltd. Limited company 739026276 Wu Xiao-Guo Shanghai Public Transportation 10,000 10,000 93.92

    Shanghai Jin Jiang Automobile Leasing Co., Ltd. Limited company 13226636-1 Shen Zhen-Dong Shanghai Car rental 3,300 3,300 100

    Shanghai Zhong You Jin You Oil Limited company 63165642-8 Wen Zhi-Xiong Shanghai Gas & oil service 2,000 1,520 76

    Products Co., Ltd.

    Shanghai Jiading Jin Jiang Automobile

    Services Co., Ltd. Limited company 70328624-4 Yu Guo-Fu Shanghai Taxi service 5,000 3,500 70

    Shanghai Jin Jia Automobile Trading Co., Ltd. Limited company 13382805-5 Shi Gen-Chang Shanghai Car trading 10,100 10,100 100

    Shanghai Toyota Automative Sales Co., Ltd. Limited company 76692464-5 Hua Jian-Qing Shanghai Car trading 10,000 7,000 70

    Shanghai Jinzhen Electronics Technology Co., Ltd. Limited company 132284690 Yu Guo-Fu Shanghai Electronics 800 800 100

    Shanghai Colorful Day Advertising Co., Ltd. Limited company 13224869X Yu Guo-Fu Shanghai Advertising 800 640 80

    Shanghai Toyota Automobile Repair Co., Ltd. Limited company 13263238-4 Ding Yue-Hua Shanghai Car repairing 850 850 100

    Shanghai Zhenxing Taxi Management Co., Ltd. Limited company 77328018X Wu Xiao-Guo Shanghai Taxi management 100 1,000 100

    Shanghai Jinyue Automobile Consulting Co., Ltd. Limited company 77764224-8 Ding Yue-Hua Shanghai Automobile service 300 300 100

    Shanghai Jin Jiang Automobile Driver Limited company 66938544-0 Yu Guo-Fu Shanghai Driver training 5,000 5,000 100

    Training Co., Ltd.

    Dalian Jin Jiang Automobile Rental Co., Ltd. Limited company 68300065-8 Shen Zheng-Dong Dalian Car rental 5,000 5,000 100SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 0 -

    VII. SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS – continued

    Proportion of

    The Group’s ownership

    actual interest

    Nature of Organisation Legal Place of Registered investment held by the

    Names business code representative incorporation Business scope Capital at year end Group

    RMB’000 RMB’000 %

    - Subsidiaries acquired through business combinations

    involving enterprises under common control (continued)

    Shanghai Jinmao Automobile Distribution and Limited company 784784332 Gong Wen-Kai Shanghai Car trading 10,200 5,100 50

    Services Co., Ltd. (Note2)

    Shanghai Jinyong Automobile Repair Limited company 79707667-7 Han Hui-Tian Shanghai Car repairing 10,000 8,000 80

    Service Co., Ltd.

    Shanghai Nanpu Bridge Food Wholesale

    Market Management Co., Ltd. Limited company 76474583-8 Ding Zhi-Liang Shanghai Food trade 300 300 100

    Shanghai Wujing Refrigerated

    Warehouse Co., Ltd. Limited company 133306740 He Wei-Guang Shanghai Food storage 50,000 94,530 100

    Shanghai Wusong Logistics Refrigerated Limited company 133401000 Cen Jian-Rong Shanghai Logistics 8,250 8,250 100

    Logistics Co., Ltd.

    - Subsidiaries acquired through business combinations

    involving enterprises not under common control

    Shanghai Jin Jiang Yaohua Limited company 132407486 Yu Guo-Fu Shanghai Taxi service 2,220 2,220 100

    Taxi Services Co., Ltd.

    Subsidiary disposed of during this period

    Shanghai Nichirei Food Co., Ltd. (Note3) Joint Venture 607241011 Wang Ye-Ping Shanghai Food processing 410,000K JPY 7,840 50

    E xcept for note 1 and note 2, the proportion of the voting power is the same as of the shares.

    Note 1: According to the agreement with other investors, the Group can excise substantive control on this subsidiary, therefore, it is included in

    the consolidation scope.

    Note 2: According to the entity’s Articles of Association, the Group can hold more than 50% of the voting power on this subsidiary, therefore, it is

    included in the consolidation scope.

    Note 3: Please see Note VIII.43 for the financial position of the subsidiary disposed during this period at the beginning of this period and on the

    date of disposal, as well as its operating results and cash flows from the beginning of the period the date of disposal.

    Except for Note IX and Note X, (5), all notes are for consolidated financial statements.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 1 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

    1. CURRENCY FUNDS

    30/06/2009 31/12/2008

    Foreign Exchange Foreign Exchange

    currency rate RMB currency rate RMB

    Cash

    RMB 576,109.95 1.0000 576,109.95 394,422.06 1.0000 394,422.06

    Cash deposit

    RMB 664,262,810.74 1.0000 664,262,810.74 609,200,437.63 1.0000 609,200,437.63

    USD - - - 1,564.49 6.8346 10,692.66

    JPY - - __________- ___ 276.88 0.0757 ________2_0_._9_6_

    Total 6__6__4__,__8__3__8__,9__2__0__.__6__9__ 6__0__9__,__6__0__5__,5__7__3__.__3__1__

    2. ACCOUNTS RECEIVABLE

    The aging analysis of accounts receivable is as follows:

    30/06/2009 31/12/2008

    Bad debt Bad debt

    Amount Proportion provision Carrying amount Amount Proportion provision Carrying amount

    RMB % RMB RMB RMB % RMB RMB

    W ithin 1 year ______4__7__,7__0__3__,__0__6__6__.__9__6 ______1__0__0__ ________3__9__1__,4____2__7__.1__2 __4__7__,3__1__1__,__6__3__9__.__8__4__ ____4__2__,__3__4__6__,__4__8__7__.2____3 ____1__0__0__. ________3____9__1__,4__2__7__.__1__2 __4__1__,__9__5__5__,__0__6__0__.1__1____

    The balance of accounts receivable shows individually insignificant by client categories.

    Top five outstanding amounts:

    Total of top five Proportion of the outstanding amounts

    outstanding amounts Aging to the total accounts receivable

    RMB %

    11,763,601.11 Within 1 year 24.7

    There are no accounts receivable from shareholders holding over 5% (inclusive) of the Company

    shares.

    There is no movement of bad debt provision of accounts receivable during this period.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 2 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    3. ADVANCES TO SUPPLIERS

    The aging analysis of advances to suppliers is as follows:

    30/06/2009 31/12/2008

    Amount Proportion Amount Proportion

    RMB % RMB %

    W ithin 1 year __5__6__,__1__2__5__,4__1__0__.__5__4 ______1__0__0 __5__3__,9__2__9__,__0__4__9__.1__3__ ____1__0__0__

    Disclosure of advances to suppliers by client categories is as follows:

    Items 30/06/2009 31/12/2008

    RMB RMB

    Individually significant payments 37,543,843.23 39,919,804.07

    O ther insignificant payments 1__8_,5_8__1_,5_6__7_.3_1_ 1_4__,0_0_9__,2_4_5__.0_6_

    T otal 5____6__,1__2____5__,4__1____0__.5__4__ 5__3____,9__2__9___,_0__4__9___._1__3__

    There are no advances to suppliers who are shareholders holding over 5% (inclusive) of the

    Company shares.

    4. DIVIDENDS RECEIVABLE

    30/06/2009 31/12/2008

    RMB RMB

    Within 1 year

    Shanghai Zhendong Automobile Service Co., Ltd. - 5,626,095.18

    Shanghai Jinmao Jin Jiang Automobile

    Services Co., Ltd. 2,500,000.00 4,000,000.00

    Shanghai Yongda Fengdu Automobile Distribution

    and Services Co., Ltd. - 1,096,000.00

    Shanghai Dazhong New Asia Co., Ltd. 10,375,059.47 -

    Shanghai Nissan Maintenance Center 8,220.08 -

    S hanghai Jing Jiang Jiayou Automobile Services Co., Ltd. __3_,3_2__1_,2_0__8_.7_0_ __________-_ __

    T otal 1____6__,2__0____4__,4__8____8__.2__5__ 1__0____,7__2__2___,_0__9__5___._1__8__

    5. OTHER RECEIVABLES

    The aging analysis of other receivables is as follows:

    30/06/2009 31/12/2008

    Bad debt Bad debt

    Amount Proportion provision Carrying amount Amount Proportion provision Carrying amount

    RMB % RMB RMB RMB % RMB RMB

    Within 1 year 22,257,924.92 95 11,254.42 22,246,670.50 24,201,913.88 95 11,254.42 24,190,659.46

    1 to 2 years 888,971.28 4 - 888,971.28 1,247,171.28 4 - 1,247,171.28

    2 to 3 years 224,009.21 1 - 224,009.21 248,109.21 1 - 248,109.21

    O ver 3 years ____1_2_3_,_1_0_0_._0_0 ____- _________-_ __ ____1_2_3_,_1_0_0_._0_0 _____1_3_3_,3__5_4_.6_0_ ___-_ __________-_ __ _____1_3_3_,3_5__4_.6_0_

    T otal __2__3__,__4__9__4__,__0__0__5__.__4__1 __1__0__0__ ________1__1__,__2__5__4__.__4__2 __2__3__,__4__8__2__,__7__5__0__.__9__9 ____2__5__,__8__3__0__,5____4__8__.9__7__ __1__0__0__ __________1__1__,__2__5__4__.4__2__ ____2__5__,__8__1__9__,2__9__4____.5__5__SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 3 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    5. OTHER RECEIVABLES - continued

    Disclosure of other receivables by categories is as follows:

    30/06/2009 31/12/2008

    Bad debt Carrying Bad debt Carrying

    Items Amount Porportion provision amount Amount Porportion provision amount

    RMB % RMB RMB RMB % RMB RMB

    Individually significant - - - - - - - -

    Other insignificant

    receivables _2_3_,_4_9_4_,_0_0_5_._4_1 _1_0_0_ ____1_1_,_2_5_4_._4_2 _2_3_,_4_8_2_,_7_5_0_._9_9 __2_5_,_8_3_0_,5__4_8_.9_7_ _1_0_0_ _____1_1_,_2_5_4_.4_2_ __2_5_,_8_1_9_,2_9__4_.5_5_

    T otal __2__3__,__4__9__4__,__0__0__5__.__4__1 __1__0__0__ ________1__1__,__2__5__4__.__4__2 __2__3__,__4__8__2__,__7__5__0__.__9__9 ____2__5__,__8__3__0__,5____4__8__.9__7__ __1__0__0__ __________1__1__,__2__5__4__.4__2__ ____2__5__,__8__1__9__,2__9__4____.5__5__

    There is no movement of bad debt provision of other receivables during this period.

    Top five outstanding amounts:

    Total of top five Proportion of the outstanding amounts

    outstanding amounts Aging to the total accounts receivable

    RMB %

    7,641,201.35 Within 1 year 32.5

    There are no other receivables from shareholders holding over 5% (inclusive) of the Company

    shares.

    6. INVENTORY

    Category 30/06/2009 31/12/2008

    RMB RMB

    Merchandise 22,215,711.52 36,138,295.17

    Spare parts 7,431,981.66 7,933,658.10

    Consumable items 2,142,028.81 2,521,874.60

    Food and beverages _1_,_3_1_8_,_8_7_1_._9_0_ _1_,_7_5_0_,_3_9_4_._7_7_

    Sub-total 33,108,593.89 48,344,222.64

    Less: Provision for the decline in value of inventories __________- ___ __________-_ __

    Total 3__3__,__1__0__8__,__5__9__3__.__8__9__ 4__8__,__3__4__4__,__2__2__2__.__6__4__

    7. OTHER CURRENT ASSETS

    Category 30/06/2009 31/12/2008

    RMB RMB

    Assets held for sale

    I ncluding: Fixed assets ________________________- ____ ______5__,0__6__7__,__4__9__6__.1__6__SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 4 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    8. AVAILABLE-FOR-SALE FINANCIAL ASSETS

    30/06/2009 31/12/2008

    Category Fair value Fair value

    RMB RMB

    A vailable-for-sale equity instruments ____1__5__1__,__7__7__6__,3__8__6__.__8__8 ____9__0__,0__8__6__,__0__1__0__.0__3__

    9. INVESTMENT PROPERTY

    Buildings Land use right Total

    RMB RMB RMB

    Original cost

    At 1 January 2009 and 30 June 2009 _2_7_,_2_0_1_,9_4_6_._7_1 _1_2_,_9_4_6_,7_7_4_._8_0 _4_0_,1_4_8_,_7_2_1_.5_1_

    Accumulated depreciation

    and accumulated amortisation

    At 1 January 2009 3,763,241.17 519,644.52 4,282,885.69

    Provided for the year ____2_5_5_,5_2_5_._12_ ____1_3_0_,3_5_4_._50_ ___3_8_5_,_8_7_9_.6_2_

    At 30 June 2009 __4_,_0_1_8_,7_6_6_._29_ ____6_4_9_,9_9_9_._02_ __4_,6_6_8_,_7_6_5_.3_1_

    Provision for impairment loss

    At 1 January 2009 and 30 June 2009 _________-_ __ _________-_ __ _________-_ __

    Net amount

    At 1 January 2009 __2__3__,__4__3__8__,7__0__5__.__54__ __1__2__,__4__2__7__,1__3__0__.__28__ __3__5__,8__6__5__,__8__3__5__.8__2__

    At 30 June 2009 _2_3_,_1_8_3_,1_8_0_._42_ _1_2_,_2_9_6_,7_7_5_._78_ _3_5_,4_7_9_,_9_5_6_.2_0_SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 5 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    10. LONG-TERM EQUITY INVESTMENTS

    (1) Details of long-term equity investments are as follows:

    Initial Opening Share Cash

    Investee investments balance of results dividends 30/06/2009

    RMB RMB RMB RMB RMB

    Using the equity method

    Shanghai Nissan Maintenance Center 5,643,011.57 5,637,906.38 57,345.57 (8,220.08) 5,687,031.87

    Shanghai Wanguo Automobile

    Driver Training Center 42,105,806.17 42,744,628.22 56,800.63 (2,780,000.00) 40,021,428.85

    Shanghai Vehicle Driver Training Centre 33,105,611.21 33,298,922.05 1,409,972.76 (5,000,000.00) 29,708,894.81

    Shanghai Zhendong Automobile

    Services Co., Ltd. 21,211,895.00 30,114,226.35 2,769,872.54 (1,500.00) 32,882,598.89

    Shanghai Jinmao Jin Jiang

    Automobile Services Co., Ltd. 16,940,000.00 27,112,582.30 1,798,286.26 - 28,910,868.56

    Shanghai Dazhong New Asia Co., Ltd 84,628,129.42 98,874,008.02 7,360,245.54 (10,375,059.47) 95,859,194.09

    Shanghai JHJ International

    Transportation Co., Ltd. 40,254,477.70 147,617,202.02 3,669,653.71 - 151,286,855.73

    Shanghai Yongda Fengdu

    Automobile Distribution and

    Services Co., Ltd. 6,000,000.00 9,914,593.78 531,312.31 - 10,445,906.09

    Shanghai Yongda Secondhand

    Automobile Services Co., Ltd. 4,500,000.00 4,398,655.56 (39,313.75) - 4,359,341.81

    Shanghai Jin Jiang Public Traffic Co., Ltd. 3,000,000.00 7,123,876.40 1,243,559.45 (2,604,958.82) 5,762,477.03

    Shanghai Jin Jiang Automobile Sales Co., Ltd. 1,500,000.00 2,569,309.48 350,202.57 (580,521.93) 2,338,990.12

    Shanghai Jing Jiang Jiayou Automobile

    Services Co., Ltd. 14,614,900.00 23,315,289.88 2,556,524.00 (4,321,208.70) 21,550,605.18

    Shanghai Jin Jiang Sheshan

    Automobile Co., Ltd. 500,000.00 7,025,904.21 780,124.65 (1,275,387.39) 6,530,641.47

    Shanghai Petrol Group Changle

    Road Gas Station Co., Ltd. 150,000.00 581,509.37 57,196.24 - 638,705.61

    Nanjing Long Distance Passenger

    Transport Group Co., Ltd 25,300,000.00 29,802,450.99 1,884,960.73 (2,783,000.00) 28,904,411.72

    Shanghai Pudong International Airport

    Transport Terminal Co., Ltd. 63,130,065.07 185,487,766.25 21,860,935.66 (83,557,701.17) 123,791,000.74

    Shilian Jin Jiang Logistics Co., Ltd. ___3_,_0_1_2_,6_7_5_._0_0_ ___________-_ __ ___________-_ __ __ ________-_ ___ ____________- __

    Subtotal _3_6_5_,_5_9_6_,5_7_1_._1_4_ __6_5_5_,_6_1_8_,8_3_1_._2_6 ___4_6_,3_4_7_,_6_7_8_.8_7_ __(1_1_3_,_2_8_7_,5_5_7_._5_6 ) __5_8_8_,_6_7_8_,9_5_2_._5_7

    Using the cost method

    Shanghai East Jin Jiang Hotel Co., Ltd. 16,555,237.81 16,555,237.81 - - 16,555,237.81

    Shanghai Global Paper

    Production Co., Ltd. 746,253.00 746,253.00 - - 746,253.00

    Guotai Jun'an Securities Co., Ltd. 47,649,967.00 47,649,967.00 - - 47,649,967.00

    Guotai Jun'an Investment

    Management Co., Ltd. 31,974,279.24 31,974,279.24 - - 31,974,279.24

    Shanghai Guojia Industry Co., Ltd. 650,000.00 650,000.00 - - 650,000.00

    Shandong Guo Tai Co., Ltd. 555,000.00 555,000.00 - - 555,000.00

    Shanghai South Station Long

    Distance Passenger Terminal Co., Ltd. 7,500,000.00 7,500,000.00 - - 7,500,000.00

    Shanghai New Century Freight Co., Ltd. 2,240,000.00 2,240,000.00 - - 2,240,000.00

    Tianjin Hualian Commercial

    Building Co., Ltd. 468,000.00 468,000.00 - - 468,000.00

    Shanghai Wanguo Vehicle

    Repair Factory(Note) ___6_,_9_0_2_,5_3_7_._5_6_ ____4_,_8_3_3_,4_2_6_._6_2 ___________-_ __ ___ ________-_ ___ ____4_,_8_3_3_,4_2_6_._6_2

    Subtotal _1_1_5_,_2_4_1_,2_7_4_._6_1_ __1_1_3_,_1_7_2_,1_6_3_._6_7 ___________-_ __ _____ ______-_ ___ __1_1_3_,_1_7_2_,1_6_3_._6_7

    Total __4__8__0__,__8__3__7__,8__4__5__.__7__5__ 768,790,994.93 ______4__6__,3__4__7__,__6__7__8__.8__7__ __(__1__1__3__,2__8__7__,__5__5__7__.5__6__)__ 701,851,116.24

    Less：Provision for Impairment loss ____4_,_9_1_9_,2_5_3_._0_0 ____4_,_9_1_9_,2_5_3_._0_0

    Net amount of long-term

    equity investments ____7__6__3__,__8__7__1__,7__4__1__.__9__3 ____6__9__6__,__9__3__1__,8__6__3__.__2__4

    Note：The liquidation process of Shanghai Wanguo Vehicle Repair Factory is close to the end,

    the management of the Group estimates the recoverable amount would be higher than the

    carrying amount.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 6 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    10. LONG-TERM EQUITY INVESTMENTS - continued

    Changes in the provision for impairment loss for long-term equity investments:

    _

    Investee 01/01/2009and 30/06/2009

    RMB

    Shanghai Global Paper Production Co., Ltd. 746,253.00

    Guotai Junan Investment Management Co., Ltd. 2,500,000.00

    Shanghai Guojia Industry Co., Ltd. 650,000.00

    Tianjin Hualian Commercial Building Co., Ltd. 468,000.00

    S handong Guo Tai Co., Ltd. __ ___55_5_,_00_0_._00_ _

    T otal ______4__,__91__9__,__25__3__.__00__ __

    (2) A list of joint ventures and associates and their key financial information

    Proportion of Investee’s Investee’s Investee’s Investee’s

    ownership total total total operating net profit

    Country of Nature of Registered interest held by assets at liabilities income for the for the

    Investee incorporation business capital the entity year end at year end current year current year

    RMB’000 RMB RMB RMB RMB

    Joint venture

    Shanghai Zhengdong

    Automobile Services

    Co., Ltd. Shanghai Sino-foreign USD7.9 million 50.00% 78,010,344.70 12,245,146.99 22,723,269.95 6,161,046.04

    Shanghai Jinmao Jin

    Jiang Automobile

    Services Co., Ltd. Shanghai Limited company 22,000 50.00% 76,502,829.29 22,277,664.75 20,078,231.11 3,596,572.49

    Shanghai Dazhong

    New Asia Co., Ltd.(Note1) Shanghai Limited company 30,000 49.50% 209,914,169.48 55,908,853.72 65,560,493.91 15,358,588.58

    Shanghai JHJ International

    Transportation

    Co., Ltd. Shanghai Sino-foreign USD10 million 50.00% 507,357,246.37 211,075,003.84 800,061,937.84 7,339,307.43

    Shanghai Jing Jiang

    Jiayou Automobile

    Services Co., Ltd. Shangha Limited company 24,700 50.00% 66,117,722.37 23,016,512.01 24,573,443.87 5,113,048.00

    Other joint ventures 97,971,609.16 13,877,603.97 25,890,645.09 3,429,359.48

    Associate

    Nanjing Long Distance

    Passenger Terminal

    Group Co., Ltd. Nanjing Limited company 110,000 23.00% 725,841,255.01 480,406,308.78 170,979,346.34 8,195,481.43

    Shanghai Pudong

    International Airport

    Transport Terminal

    Co., Ltd. Shanghai Limited company 19,161 20.00% 112,893,8791.20 509,983,777.51 265,600,384.41 109,304,678.32

    Shilian Jin Jiang

    Logistics Co., Ltd. Shanghai Limited company USD10 million 25.00% 1,171,651.98 8,331,209.71 0.00 (4,236,401.37)

    Other associates 292,230,861.96 122,880,802.26 375,690,894.20 14,626,646.08

    The proportion of the voting power is the same as of the shares except for Shanghai Dazhong

    New Asis Co., Ltd. of which the proportion of the voting right is 50% according to the entity’s

    constitution.

    (3) For long-term equity investments held by the Group on 30 June 2009, the investee’s ability to

    transfer funds to the Group is not restricted.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 7 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    11. FIXED ASSETS

    Electronic

    Plant and equipment, Operational Other Hotel

    Buildings machinery furniture & fixture vehicles transportation improvement Total

    RMB RMB RMB RMB RMB RMB RMB

    Cost

    At 1 January 2009 153,306,927.82 81,143,637.06 23,926,627.97 1,500,026,371.43 14,329,795.10 3,766,821.31 1,776,500,180.69

    Acquisition 520,110.72 781,197.00 214,239.92 8,911,401.18 575,569.50 39,784.00 11,042,302.32

    Transferred from construction

    in progress - 375,160.00 2,718.00 102,421,554.10 - - 102,799,432.10

    Transfer out for disposal of

    subsidiaries - (37,800,243.76) - - (1,578,229.68) - (39,378,473.44)

    Disposals ____(6_6_9_,_2_6_4_.3_1_) ___(_9_9_,2_5_0_._5_2_) __________-_ __ _(_1_3_5_,_5_4_1_,0_2_9_._6_2 ) __________-_ __ _________-_ __ (1_3_6_,_3_0_9_,5_4_4_._4_5_)

    At 30 June 2009 _1_5_3_,1_5_7_,_7_7_4_.2_3_ 4_4_,_4_0_0_,4_9_9_._7_8_ __2_4_,_1_4_3_,5_8_5_._8_9 _1_,4_7_5_,_8_1_8_,2_9_7_._0_9 __1_3_,3_2__7_,1_3_4_.9_2_ __3_,8_0_6_,_6_0_5_.3_1_ 1,_7_1_4_,6_5_3_,_8_9_7_.2_2_

    Accumulated depreciation

    At 1 January 2009 48,337,491.02 53,730,196.96 16,352,790.56 842,669,049.81 6,706,851.32 1,028,613.95 968,824,993.62

    Provided for the year 3,511,104.36 1,905,107.52 1,424,254.99 98,170,919.28 592,957.31 395,296.67 105,999,640.13

    Transfer out for disposal of

    subsidiaries - (29,718,328.41) - - (1,164,939.14) - (30,883,267.55)

    Eliminated on disposals ____(6_6_9_,_2_6_4_.3_1_) ___(_1_2_,4_0_5_._8_0_) __________-_ __ _(_1_2_2_,_9_9_6_,9_7_4_._4_0 ) __________-_ __ _________-_ __ (1_2_3_,_6_7_8_,6_4_4_._5_1_)

    At 30 June 2009 __5_1_,1_7_9_,_3_3_1_.0_7_ 2_5_,_9_0_4_,5_7_0_._2_7_ __1_7_,_7_7_7_,0_4_5_._5_5 __8_1_7_,_8_4_2_,9_9_4_._6_9 ___6_,1_3_4_,_8_6_9_.4_9_ __1_,4_2_3_,_9_1_0_.6_2_ _9_2_0_,2_6_2_,_7_2_1_.6_9_

    Provision for impairment loss

    At 1 January 2009

    and 30 June 2009 ___1_,9_8_0_,_4_4_4_.8_7_ ____7_4_,9_7_4_._3_4_ ______3_8_,9_8_2_._7_2 ___________-_ __ __________-_ __ _________-_ __ ___2_,0_9_4_,_4_0_1_.9_3_

    Net book value

    At 1 January 2009 __1__0__2__,9__8__8__,__9__9__1__.9__3__ 2__7__,__3__3__8__,4__6__5__.__7__6__ ______7__,__5__3__4__,8__5__4__.__6__9 ____6__5__7__,__3__5__7__,3__2__1__.__6__2 ______7__,6__2__2__,__9__4__3__.7__8__ ____2__,7__3__8__,__2__0__7__.3__6__ __8__0__5__,5__8__0__,__7__8__5__.1__4__

    At 30 December 2009 ____9__9__,9__9__7__,__9__9__8__.2__9__ 1__8__,__4__2__0__,9__5__5__.__1__7__ ______6__,__3__2__7__,5__5__7__.__6__2 ____6__5__7__,__9__7__5__,3__0__2__.__4__0 ______7__,__1__9__2__,2__6__5__.__4__3 ____2__,3__8__2__,__6__9__4__.6__9__ __7__9__2__,2__9__6__,__7__7__3__.6__0__

    Note: At the end of 30 June 2009, the certificate of the building with net book value of RMB

    11,024,717.56 (2008: RMB 12,155,966.74) is not obtained. The owner of the certificate of the

    building with net book value of RMB 5,040,136.96 (2008: RMB 5,196,275.20) is not updated. The

    owner of the certificate of the building is still Shanghai Shang Hai Food Co., Ltd., the predecessor

    of Shanghai Jin Jiang International Refrigerated Logistic Co., Ltd. Huangpu branch.

    12. CONSTRUCTION IN PROGRESS

    Complete and

    transfer to Capital

    Items 01/01/2009 Additions fixed assets 30/06/2009 source

    RMB RMB RMB RMB

    Vehicle before working

    condition 275,320.00 105,495,949.10 (102,421,554.10) 3,349,715.00 self-finance

    O thers __2_,_0_8_7_,1_8__0_.0_0_ __1_,_5_7_9_,_5_5_6_.0_6_ ___(_3_7_7_,_8_7_8_.0_0_) _3_,_2_8_8_,_8_5_8_.0_6_ self-finance

    Total 2,362,500.00 1__0__7__,__0__7__5__,__5__0__5__.1__6__ (10__2__,__7__9__9__,__4__3__2__.1__0__) 6,638,573.06

    P rovision for impairment loss __________-_ __ _________-_ __

    N et book value ______2__,3__6__2__,__5__0__0__.0__0__ ____6__,6__3__8__,__5__7__3__.0__6__SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 8 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    13. INTANGIBLE ASSETS

    Operational

    Land use right license of taxi Total

    RMB RMB RMB

    Cost

    At 1 January 2009 and 30 June 2009 ___9_5_,2_7_1_,8_1_9_.2_0_ ___4_8_,7_9_6_,4_3_1_.3_5_ __1_4_4_,0_6_8_,2_5_0_.5_5_

    Accumulated amortisation

    At 1 January 2009 2,498,072.08 6,030,352.12 8,528,424.20

    Provided for the year _____5_3_9_,7_9_0_.0_6_ __________-_ __ _____5_3_9_,7_9_0_.0_6_

    A t 30 June 2009 ____3_,0_3_7_,8_6_2_.1_4_ ____6_,0_3_0_,3_5_2_.1_2_ ____9_,0_6_8_,2_1_4_.2_6_

    Provision for impairment loss

    A t 1 January 2009 and 30 June 2009 __________-_ __ __________-_ __ _____________

    Net book value

    At 1 January 2009 ______9__2__,7__7__3__,7__4__7__.1__2__ ______4__2__,7__6__6__,0__7__9__.2__3__ ____1__3__5__,5__3__9__,8__2__6__.3__5__

    A t 30 June 2009 ______9__2__,2__3__3__,9__5__7__.0__6__ ______4__2__,7__6__6__,0__7__9__.2__3__ ____1__3__5__,0__0__0__,0__3__6__.2__9__

    Remaining years for amortization 26 years to Infinite Infinite

    Land use right with net book value of RMB 42,106,800 at 30 June 2009 is allocated by the

    government and not amorised due to the uncertainty of the useful life. The owner of the certificate

    of land use right with net book value of RMB 14,230,400.00 at 30 June 2009 is not updated. The

    owner of the certificate of the building is still Shanghai Shang Hai Food Co., Ltd., the predecessor

    of Shanghai Jin Jiang International Refrigerated Logistic Co., Ltd. Huangpu branch.

    14. DEFERRED TAX ASSETS

    Deductible temporary differences Deferred tax assets

    Items 30/06/2009 31/12/2008 30/06/2009 31/12/2008

    RMB RMB RMB RMB

    Provision of impairment loss 4,451,253.00 4,451,253.00 1,112,813.25 1,112,813.25

    Others _2_,_6_0_5_,7_5_1_.4_0_ ___2_,7_1_2_,3_5_5_._6_4 ____6_5_1_,6_4_1_._27_ ___6_7_8_,2_9_2_._3_3 _

    Total __7__,__0__5__7__,0__0__4__.4__0__ ______7__,1__6__3__,6__0__8__.__6__4 ____1__,__7__6__4__,4__5__4__.5__2__ __1__,__7__9__1__,1__0__5__.__5__8 __

    Deferred tax assets are not recognised for the following deductible temporary differences and

    deductible loss:

    30/06/2009 31/12/2008

    RMB RMB

    Deductible losses 4,036,635.62 4,036,635.62

    D eductible temporary differences ___2_,4_9_7_,_0_8_3_.4_7_ __2_,_4_9_7_,0_8_3__.4_7_

    T otal ______6__,5__3__3__,__7__1__9__.0__9__ ____6__,__5__3__3__,7__1__9____.0__9__SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 3 9 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    15. OTHER NON-CURRENT ASSETS

    01/01/2009and 30/06/2009

    Items RMB

    Prepayment for investment (Note 1) 15,262,988.76

    Long-term loan receivables (Note 2) 16,922,667.24

    Less: Due within 1 year ___4_,2_3_0_,6_6_6_._6_7_

    Total ___2_7__,__9__5__4__,9__8__9__.__3__3__

    Note 1: Within the balance at 30 June 2009, RMB 15,262,988.76 prepayment to Guotai Jun'an

    Securities Co., Ltd. for investment;

    Note 2: Other long-term loan receivable due from Shanghai Pudong International Airport

    Transport Terminal Co., Ltd. is RMB 50,768,000.00 non-interest bearing loan for its

    rental of buildings, equipments and plants. The long-term loan receivable is repayable in

    12 equal annual repayments.

    16. PROVISION FOR IMPAIRMENT LOSS OF ASSETS

    01/01/2009and 30/06/2009

    Items RMB

    Bad debts provision 402,681.54

    Provision for impairment loss of

    long-term equity investments 4,919,253.00

    Provision for impairment loss of

    fixed asset s ___2_,0_9_4_,_4_0_1_.9_3_

    Total _____7_,__4__1__6__,3__3__6__.__4__7__

    17. SHORT-TERM BORROWINGS

    Category 30/06/2009 31/12/2008

    RMB RMB

    Discounted notes - 20,000,000.00

    C redit loans __________-_ __ __5_,_0_0_0_,0_0_0__.0_0_

    T otal ____________________-__ ____ ____2__5__,0__0__0__,0__0__0__.0__0__

    18. ACCOUNTS PAYABLE

    There are no accounts payable to shareholders who holding over 5% (inclusive) of the equity

    interests with voting power or related parties.

    19. ADVANCES FROM CUSTOMERS

    There are no advances from customers from shareholders holding over 5% (inclusive) of the

    equity interests with voting power or related parties.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 0 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    20. EMPLOYEE BENEFITS PAYABLE

    Items 01/01/2009 Accruals Payments 30/06/2009

    RMB RMB RMB RMB

    Wages or salaries, bonus,

    allowances, subsidies 7,557,563.88 108,975,773.37 82,248,501.11 34,284,836.14

    Staff welfare 30,094,216.96 2,072,573.61 5,221,679.45 26,945,111.12

    Social security contributions 8,783,803.72 55,059,069.97 54,654,352.80 9,188,520.89

    Including：Premiums or contributions

    on medical insurance 2,453,668.22 16,473,766.64 16,271,917.23 2,655,517.63

    Basic pension insurance 5,503,965.38 34,151,595.66 33,995,145.00 5,660,416.04

    Unemployment insurance 654,736.22 3,458,236.93 3,452,158.73 660,814.42

    Work injury insurance 86,495.00 487,735.37 467,565.92 106,664.45

    Maternity insurance 84,938.90 487,735.37 467,565.92 105,108.35

    Housing funds 173,661.50 9,754,418.75 8,752,173.25 1,175,907.00

    Union running costs and employee

    education costs 10,852,914.50 932,488.91 1,115,495.94 10,669,907.47

    Compensation to employees for termination

    of employment relationship - 3,213,336.00 1,899,205.00 1,314,131.00

    Subsidy for internal retired staffs 14,287,613.94 - 848,000.84 13,439,613.10

    S ubsidy for retired staffs _1_0_,_7_1_7_,_5_8_8_.4_8_ __________-_ __ ____9_7_4_,_4_3_2_.4_0_ __9_,_7_4_3_,1_5_6_._0_8_

    T otal __8__2__,__4__6__7__,__3__6__2__.9__8__ 1__8__0__,__0__0__7__,6__6__0____.6__1__ 1__5__5__,__7__1__3__,__8__4__0__.7__9__ 1__0__6__,__7__6__1__,1__8__2__.__8__0__

    21. TAX PAYABLE

    30/06/2009 31/12/2008

    RMB RMB

    Income tax 26,829,719.07 16,495,272.04

    Value added tax 68,062.04 (148,063.59)

    Business tax 3,220,104.15 3,527,204.05

    O ther taxes ___3_,1_0_9_,_3_3_6_.1_6_ ___3_,_4_7_7_,5_5_8_._2_7

    T otal ____3__3__,2__2__7__,__2__2__1__.4__2__ ____2__3__,__3__5__1__,9__7__0__.__7__7

    22. DIVIDENDS PAYABLE

    30/06/2009 31/12/2008 Reason

    RMB RMB

    Dividend paid to shareholders 21,013,630.45 21,338,065.35 Not draw

    D ividend paid to minority shareholders __4_7_,5_6_5_,_8_5_9_.3_4_ __1_3_,7_1_2_,_7_8_3_.9_4_ Not draw

    T otal ____6__8__,5__7__9__,__4__8__9__.7__9__ ____3__5__,0__5__0__,__8__4__9__.2__9__SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 1 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    23. OTHER PAYABLES

    Nature 30/06/2009 31/12/2008

    RMB RMB

    Deposit 109,038,676.77 111,345,188.39

    Debt due from reform 39,821,129.93 39,821,129.93

    O thers taxes _1_1_7_,0_1_3_,_3_3_4_.9_4_ _1_1_8_,_0_0_6_,5_0_9_._2_3

    T otal __2__6__5__,8__7__3__,__1__4__1__.6__4__ __2__6__9__,__1__7__2__,8__2__7__.__5__5

    The balances aged over one year mainly include deposit and debt due from reform.

    Other payables to shareholders holding over 5% (inclusive) of the entity interests with voting

    power or related parties is as follow:

    Name of shareholder 30/06/2009 31/12/2008

    RMB RMB

    J in Jiang International (Group) Co., Ltd. ______________________- ____ ______3__,__0__0__0__,0__0__0__.__0__0

    24. DEFFERED TAX LIABILITIES

    Taxable

    Items temporary differences Deferred tax liabilities

    30/06/2009 31/12/2008 30/06/2009 31/12/2008

    RMB RMB RMB RMB

    Available-for-sale financial assets __1__3__4__,__6__2__4__,8__2__7__.__3__0 ____6__9__,__3__5__7__,7__9__0__.__2__4 __3__3__,6__5____6__,2__0__6__.__8__1 __1__7__,3__3__9__,__4__4__7__.8__2__ __

    25. OTHER NON-CURRENT LIABILITIS

    Items 30/06/2009 31/12/2008

    RMB RMB

    Relocation compensation 28,793,301.92 28,793,301.92

    Rehousing compensation 22,791,069.72 23,068,643.92

    D eferred income ___4_,_1_4_7_,5_0_0_._0_0 ___4_,_4_1_0_,0_0_0_._0_0

    ____5__5__,__7__3__1__,8__7__1__.__6__4 ____5__6__,__2__7__1__,9__4__5__.__8__4SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 2 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    26. SHARE CAPITAL

    The registered capital and paid-in capital of the Company are recorded as 551,610,107 shares,

    with the par value of RMB 1 per share. Types and structure of the shares are as follows:

    For six months ended 30 June 2009

    Additions/

    01/01/2009 reversals (shares) 30/06/2009

    (a) Restricted tradable shares

    1. State-owned legal person shares __1_8_5_,_0_0_5_,9_5_5_ ___(2_7_,_5_8_0_,_5_0_5 ) ___1_5_7_,_4_2_5_,_4_5_0

    Sub-total __1_8_5_,_0_0_5_,9_5_5_ ___(2_7_,_5_8_0_,_5_0_5 ) ___1_5_7_,_4_2_5_,_4_5_0

    (b) Tradable shares

    1. Ordinary shares denominated

    in RMB 205,554,120 27,580,505 233,134,625

    2. Foreign captail shares listed

    domestically (B Share) __1_6_1_,_0_5_0_,0_3_2_ ____________- ___1_6_1_,_0_5_0_,_0_3_2

    Sub-total __3_6_6_,_6_0_4_,1_5_2_ ___2_7_,_5_8_0_,_5_0_5 ___3_9_4_,_1_8_4_,_6_5_7

    (c) Total ____5__5__1__,__6__1__0__,1__0__7__ ________________________- ______5__5__1__,__6__1__0__,__1__0__7

    On 13 February 2009, the Group arranges the tradable shares come on to the market for the third

    time, (only unit reform shaped tradable shares). The quantity was 27,580,505 shares, 5.00% of the

    total Group shares.

    27. CAPITAL RESERVE

    2008:

    Items 01/01/2009 Additions Reversals 30/06/2009

    RMB RMB RMB RMB

    Share premium 266,218,226.90 - - 266,218,226.90

    Including: Capital invested by investors 266,218,226.90 - - 266,218,226.90

    Other capital reserve 170,833,451.34 48,873,559.87 130,913.41 219,576,097.80

    Including：Realized conslidation adjustments by steps

    to an entity not under the same control 5,805,597.08 - - 5,805,597.08

    Other changes in shareholders' equity

    except for net profit or loss of the investee 7,220.00 - - 7,220.00

    Gain or loss arising from changes in fair

    value of available-for-sale

    financial assets 51,778,068.74 48,873,559.87 130,913.41 100,520,715.20

    Transfer from capital reserve under the

    previous accounting system(Note2) _1_1_3_,2_4_2_,_5_6_5_.5_2_ _________-_ __ _________-_ __ 1_1_3_,_2_4_2_,5_6_5_._5_2

    Total __4__3__7__,0__5__1__,__6__7__8__.2__4__ __4__8__,__8__7__3__,5__5__9__.__8__7 ______1__3__0__,__9__1__3__.4__1__ 4__8__5__,__7__9__4__,3__2__4__.__7__0SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 3 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    28. SURPLUS RESERVE

    Statutory surplus Discretionary

    Items reserve surplus reserve Total

    RMB RMB RMB

    Balance at beginning of year 172,910,048.76 10,684,636.00 183,594,684.76

    A ddition _2_3_,_4_8_1_,3_9_0_._8_7 _________-_ __ _2_3_,_4_8_1_,3_9_0_._8_7

    B alance at 30 June 2009 1__9__6__,__3__9__1__,4__3__9__.__6__3 __1__0__,6__8__4__,__6__3__6__.0__0__ 2__0__7__,__0__7__6__,0__7__5__.__6__3

    The statutory surpulus can be used for making up losses of the Company, enlarge production

    operation or increase share capital.

    29. UNAPPROPRIATED PROFIT

    30/06/2009 31/12/2008

    RMB RMB

    At beginning of year 621,386,177.73 550,330,570.41

    Addition：Net profit for the year 140,341,179.71 323,105,516.48

    Less: Realized consolidation adjustments by steps

    to an entity not under the same control - 648,658.86

    L ess: Appropriation to statutory surplus reserve (Note1) ___2_3_,4_8_1_,_3_9_0_.8_7_ ___3_0_,_7_5_7_,2_0_7_._5_0

    Profit available for distribution to shareholders 738,245,966.57 842,030,220.53

    Less: Dividends payable - last year’s cash

    dividends approved by shareholder’s meeting (Note2) __1_6_5_,4_8_3_,_0_3_2_.1_0_ __2_2_0_,_6_4_4_,0_4_2_._8_0

    A t end of year ____5__7__2__,7__6__2__,__9__3__4__.4__7__ ____6__2__1__,__3__8__6__,1__7__7__.__7__3

    Including: Cash dividends after

    balance sheet date - 165,483,032.10

    Note 1: Appropriation for statutory surplus reserve

    According to the Articles of Association, the Company is required to transfer 10% of its

    net profit to the statutory surplus reserve.The transfer may be ceased if the balance of

    statutory surplus reserve has reached 50% of the Company registered capital.

    Note 2: Cash dividends after balance sheet date

    As approved by shareholders’ meeting, cash dividends of RMB 165,483,032.10 of 2008

    (calculated on the basis of 551,610,107 issued shares, cash dividends of RMB0.3

    (including tax) per share will be distributed to all shareholders), has been transferred to

    the account of dividends payable, and has been paid.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 4 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    30. MINORITY INTEREST

    The minority interest of subsidiaries of the Group is as follows:

    30/06/2009 31/12/2008

    RMB RMB

    Shanghai Jin Jiang Automobile Services Co., Ltd. 126,932,820.25 128,643,175.38

    Shanghai JHJ Logistic Management Co., Ltd. 50,621,999.50 76,236,216.12

    Shanghai Jin Jiang International Refrigerated

    Logistic Co., Ltd. ____________-_ __ __1_0_,3_0_1_,_8_5_1_.3_4_

    T otal ______1__7__7__,__5__5__4__,8__1__9__.__7__5 __2__1__5__,1__8__1__,__2__4__2__.8__4__

    31. OPERATING INCOME

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    RMB RMB

    Principal operating activities 764,696,209.76 806,986,974.55

    Including：Vehicle operating and relevant business 492,390,681.17 490,929,262.59

    Vehicle selling 224,527,231.20 240,997,871.21

    Hotel and relevant business 9,817,732.30 9,820,714.96

    Refrigerated logistics and relevant business 37,960,565.09 65,239,125.79

    O ther operating activities ____1_4_,4_8_7_,_2_4_5_.1_1_ ___1_4_,_5_7_0_,2_2_8_._0_5

    Total ______7__7__9__,1__8__3__,__4__5__4__.8__7__ ____8__2__1__,__5__5__7__,2__0__2__.__6__0

    The aggregate amount of operating income from the top five customers was RMB 34,673,663.74

    (01/01/2008to 30/06/2008: RMB 40,158,904.00) which accounts for 4% (01/01/2008to

    30/06/2008: 5% ) of the total operating income.

    32. OPERATING COSTS

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    RMB RMB

    Principal operating activities 555,081,324.79 598,967,509.09

    Including: Vehicle operating and relevant business 322,697,657.08 328,918,416.72

    Vehicle selling 210,781,682.69 226,104,081.64

    Hotel and relevant business 1,735,461.68 1,760,243.42

    Refrigerated logistics and relevant business 19,866,523.34 42,184,767.31

    O ther operating activities _____2_,5_7_2_,_1_0_8_.8_7_ ____2_,_5_7_4_,2_5_2_._7_3

    ______5__5__7__,6__5__3__,__4__3__3__.6__6__ ____6__0__1__,__5__4__1__,7__6__1__.__8__2SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 5 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    33. SALES TAXES AND LEVIES

    01/01/2009to 01/01/2008to

    Category of tax 30/06/2009 30/06/2008

    RMB RMB

    Business tax 18,068,762.14 18,707,424.26

    Construction tax 1,195,445.22 874,632.27

    Others ______5_4_2_,6_2_9_._1_5 _____3_9_7_,_4_3_2_.4_0_

    Total ______1__9__,8__0__6__,__8__3__6__.5__1__ ______1__9__,9__7__9__,__4__8__8__.9__3__

    34. FINANCE EXPENSES

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    RMB RMB

    Interest expenses 2,301,412.59 1,338,424.50

    Less: Interest income 4,392,445.75 3,523,660.42

    Exchange difference 128,555.25 (775,275.88)

    O thers ___6_8_4_,_3_7_9_.7_3_ ____2_1_4_,9_7_6_._7_0

    T otal __(__1__,2__7__8__,__0__9__8__.1__8__) __(__2__,__7__4__5__,5__3__5__.__1__0 )

    35. INVESTMENT INCOME

    01/01/2009to 01/01/2008to

    Items 30/06/2009 30/06/2008

    RMB RMB

    Dividend from investment carried at cost 15,361,153.69 26,166,566.79

    Gains/losses recognised under equity method 46,347,678.87 87,253,920.19

    Gains from disposal of long-term

    equity investment 3,698,148.66 -

    Gains on available-for-sale financial assets 17,630,900.37 8,837,214.18

    O thers __________-_ __ ___1_,_7_7_5_,5_6_0_._1_7

    ____8__3__,0__3__7__,__8__8__1__.5__9__ __1__2__4__,__0__3__3__,2__6__1__.__3__3

    There are no significant restrictions on remittance of the Group’s gains on investment.

    36. NON-OPERATING INCOME

    01/01/2009to 01/01/2008to

    Items 30/06/2009 30/06/2008

    RMB RMB

    Gain on disposal of fixed assets 7,811,215.40 9,216,889.77

    Government grants(Detail please refer to Note VIII 39) 4,814,811.33 6,734,056.01

    O thers _____3_,_6_9_1_._3_0_ ____4_1_1_,_2_2_6_._5_7

    T otal 1__2__,__6__2__9__,__7__1__8__.__0__3__ __1__6__,3____6__2__,1____7__2__.__3__5SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 6 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – continued

    37. NON-OPERATING EXPENSE

    01/01/2009to 01/01/2008to

    Items 30/06/2009 30/06/2008

    RMB RMB

    Loss on write-off of fixed assets 106,711.48 185,987.86

    O thers ____4_0_,_2_3_2_._1_6_ _____2_2_,_9_2_2_._0_0

    T otal ______1__4__6__,__9__4__3__.__6__4__ _______2___0__8__,9____0__9__.__8__6

    38. INCOME TAX

    01/01/2009to 01/01/2008to

    Items 30/06/2009 30/06/2008

    RMB RMB

    Current tax expense 22,556,012.94 22,390,889.12

    D eferred tax expense ____2_6_,_6_5_1_._0_6_ _____3_8_,1__3_2_._6_0

    T otal 2__2__,__5__8__2__,__6__6__4__.__0__0__ __2__2__,4____2__9__,0____2__1__.__7__2

    39. GOVERNMENT GRANTS

    01/01/2009to 01/01/2008to

    Items 30/06/2009 30/06/2008

    RMB RMB

    Received government grants related to income

    Refund from Government 938,968.17 509,248.00

    Subsidy for preferential price of public traffic 1,397,950.83 2,579,908.01

    Subsidy for gasoline price 1,615,392.33 2,308,600.00

    Subsidy for certain lines of bus - 1,336,300.00

    O thers ___6_0_0_,_0_0_0_.0_0_ ________-_ __

    T otal ____4__,5__5__2__,__3__1__1__.3__3__ __6__,7__3__4__,__0__5__6__.0__1__

    G overnment grants recognised in profit for the period ____4__,8__1__4__,__8__1__1__.3__3__ __6__,7__3__4__,__0__5__6__.0__1__

    40. EARNINGS PER SHARE

    For the purpose of calculating basic earnings per share, net profit or loss for the current period

    attributable to ordinary shareholders is as follows:

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    RMB RMB

    Net profit for the current period attributable

    to ordinary shareholders __1__4__0__,__3__4__1__,1__7__9__.__7__1 __1__7__5__,2__8__5__,__4__0__2__.8__3__SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 7 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – continued

    41. EARNINGS PER SHARE - continued

    For the purpose of calculating basic earnings per share, the denominator is the weighted average

    number of outstanding ordinary shares and its calculation process is as follows:

    01/01/2009 to 30/06/2009 and

    01/01/2008to 30/06/2008

    Number of ordinary shares outstanding at the

    beginning and closing of year ________5__5__1__,6__1__0__,__1__0__7

    Note: The Group has no dilute potential ordinary shares at 30 June 2009.

    Earnings Per Share

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    RMB RMB

    Net profit for the year attributable to shareholders of the parent

    Basic earnings per share 0.254 0.318

    D ilute earnings per share ____________________N____/A__ ____________________N____/A__

    41. NET PROFIT AFTER DEDUCTING NON-RECURRING PROFIT OR LOSS

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    RMB RMB

    Net profit 155,545,555.33 207,386,209.41

    Add/less: Non-recurring profit or loss

    - Profit or loss on disposal of non-current assets (11,402,652.58) (9,030,901.91)

    - Government grants recognised

    in profit for the year (3,416,860.50) (6,734,056.01)

    - Investment income from disposals

    of financial assets (17,630,900.37) (8,837,214.18)

    - Other non-operating net income

    after deducting above items 36,540.86 (388,304.57)

    T ax effect of non-recurring profit or loss ___6_,_4_9_0_,5_4_0_._2_6 ___6_,_2_4_7_,6_1_9_._1_7

    Net profit after deducting non-recurring gain or loss __1__2__9__,__6__2__2__,2__2__3__.__0__0 __1__8__8__,__6__4__3__,3__5__1__.__9__1

    Including: Net profit attributable to shareholders of the parent 114,860,631.23 157,143,047.26

    Net profit attributable to minotiry interest ____1__4__,__7__6__1__,5__9__1__.__7__7 ____3__1__,__5__0__0__,3__0__4__.__6__5SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 8 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    42. SUPPLEMENTARY INFORMATION TO THE CASH FLOW STATMENT

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    RMB RMB

    (1) Reconciliation of net profit to cash flow from operating activities:

    Net profit 155,545,555.33 207,386,209.41

    Add: Depreciation of fixed assets

    and investment property 106,385,519.75 122,408,594.67

    Amortization of intangible assets 539,790.06 670,144.56

    Amortization of long-term prepayments 6,477.90 6,477.90

    Gains on disposal of fixed assets,

    intangible assets and other long-term assets (7,704,503.92) (9,030,901.91)

    Financial expenses 2,301,412.59 1,338,424.50

    Gains arising from investments (83,037,881.59) (124,033,261.33)

    Decrease (increase) in deferred tax assets 26,651.06 38,132.60

    Decrease in inventories 15,235,628.75 (10,366,387.80)

    Decrease (increase) in receivables

    under operating activities (5,206,690.40) 30,616,243.46

    Increase in payables under

    operating activities __3_0_,2_1_2_,_4_6_9_.4_7_ __4_7_,_0_9_4_,9_9_0_._0_8

    Net cash flow from operating activities __2__1__4__,3__0__4__,__4__2__9__.0__0__ __2__6__6__,__1__2__8__,6__6__6__.__1__4

    (2) Net changes in cash and cash equivalents:

    Cash at the end of the period 664,838,920.69 585,792,980.93

    Less: Cash at the beginning of the period _6_0_9_,6_0_5_,_5_7_3_.3_1_ _4_1_4_,_1_6_4_,2_3_5_._7_0

    Net increase in cash and cash equivalents ____5__5__,2__3__3__,__3__4__7__.3__8__ __1__7__1__,__6__2__8__,7__4__5__.__2__3SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 4 9 -

    VIII. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    43. DISPOSAL OF SUBSIDIARY

    The following subsidiary (see Note VII) was disposed of by the Group during the period and

    therefore they are not included in the consolidated balance sheet as at 30 June 2009. The

    subsidiary had no significant operating results from the beginning of the period to the date of

    disposal. The financial position of the subsidiary at the date of disposal and on 31 December 2008

    was as follows:

    31/12/2008and

    the date of disposal

    RMB

    Shanghai Nichirei Food Co., Ltd.

    Current assets 26,593,673.94

    Non current assets 8,495,205.89

    C urrent liabilities _(1_4_,_4_8_5_,1_7_7_._1_4_)

    T otal shareholders' equity ____2__0__,6__0__3__,__7__0__2__.6__9__

    Including: Attributable to equity

    holders of the parent 10,301,851.35

    Minority interest 10,301,851.34

    Information related to cash flows from disposal of subsidiary during this period

    Amount

    RMB

    The price of disposal of the subsidiary 14,000,000.00

    Cash and cash equivalents received in disposal of subsidiary 14,000,000.00

    Less: Cash an d cash equivalents held by acquiree _1_2_,_6_0_5_,6_9_5_._3_7_

    Net cash and cash equivalents received in disposal of subsidiary ______1__,3__9__4__,__3__0__4__.6__3__

    44. SEGMENT REPORT

    Since the Group's risks and returns are affected predominantly by differences in the products and

    services it produces, the Group intends to take business segment as its primary reporting format. As

    over 95% business and operating assets of the Group is in Shanghai, no geographical segament is

    necessary.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRIAL CO., LTD.

    - 5 0 -

    IX. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

    44. SEGMENT REPORT- CONTINUED

    (1) Primary reporting format - business segment

    Vehicle operating Refrigerated logistics

    and relevant business Automobile selling Hotel and relevant business and relevant business Unappropriated items Total

    01/01/2009to 01/01/2008to 01/01/2009to 01/01/2008to 01/01/2009to 01/01/2008to 01/01/2009to 01/01/2008to 01/01/2009to 01/01/2008to 01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008 30/06/2009 30/06/2008 30/06/2009 30/06/2008 30/06/2009 30/06/2008 30/06/2009 30/06/2008 30/06/2009 30/06/2008

    RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB

    Operating income

    Revenue arising from

    external transactions 492,390,681.17 490,929,262.59 224,527,231.20 240,997,871.21 9,817,732.30 9,820,714.96 37,960,565.09 65,239,125.79 14,487,245.11 14,570,228.05 779,183,454.87 821,557,202.60 -

    segment transactions ____________-_ __ ___________-_ __ ___________-_ __ __________-_ __ __________-_ __ __________-_ __ __________-_ __ __________-_ __ __________-_ __ __________-_ __ _________-_ __ ________-_ __

    Total operating income ________4__92__,__3__9__0__,6__8__1__.1__7__ ______4__9__0__,9__2__9__,2__6__2__.__59__ ______2__2__4__,5__2__7__,2__3__1__.2__0__ ____2__4__0__,9__9__7__,8__7__1__.2__1__ ________9__,8__1__7__,7__3__2__.__30__ ________9,__8__2__0__,7__1__4__.9__6__ ______37__,__9__6__0__,5__6__5__.0__9__ ______6__5__,2__3__9__,1__2__5__.__79__ ______1__4__,4__8__7__,2__4__5__.__11__ ______1__4__,5__7__0__,2__2__8__.__05__ __7__7__9__,1__8__3__,4__5__4__.8__7__ __ __8__2__1__,5__5__7__,__20__2__. 60 _______________ ______________

    Operating expenses __________88__,__6__9__3__,7__8__3__.6__5__ ________7__8__,8__7__1__,0__1__7__.__15__ __________9__,2__2__4__,3__4__9__.9__2__ ________8__,7__7__7__,9__3__2__.4__8__ ______1__0__,1__4__5__,8__6__4__.__34__ ________9,__8__0__7__,1__0__2__.6__1__ ______11__,__0__0__3__,6__8__6__.9__8__ ______1__2__,8__3__6__,7__6__6__.__40__ ____________3__8__,2__2__9__.__28__ __________1__1__4__,4__2__5__.__90__ __1__1__9__,1__0__5__,9__1__4__.1__7__ __ __1__1__0__,4__0__7__,__24__4__. 54 _______________ ______________

    Operating profit (loss) __________91__,__0__5__1__,3__8__4__.1__9__ ________9__2__,4__5__4__,3__8__7__.__41__ __________2__,2__9__4__,6__7__1__.3__4__ ________3__,8__0__7__,1__6__8__.7__6__ ______(__2__,5__5__7__,2__5__6__.__08__) ______(__1__,2__9__1__,5__2__5__.8__1__) ______9__,__0__1__6__,7__4__6__.7__2__ ________8__,0__2__5__,7__3__7__.__42__ ______6__5__,8__3__9__,8__9__8__.__77__ ____1__1__0__,6__6__6__,2__0__0__.__86__ __1__6__5__,6__4__5__,4__4__4__.9__4__ __ __2__1__3__,6__6__1__,__96__8__. 64 _______________ ______________

    The segment accounting policies are consistent with those of the consolidated financial statements.

    Segment revenue and segment expense are determined on the basis of actual revenue and expense of the segment respectively.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 1 -

    IX. NOTES TO COMPANY’S FINANCIAL STATEMENTS

    1. RECEIVABLES

    The aging analysis of receivables is as follows:

    Aging 30/06/2009 31/12/2008

    Bad debt Carrying Bad debt Carrying

    Amount Proprtion provision amount Amount Proprtion provision amount

    RMB % RMB RMB RMB % RMB RMB

    W ithin 1 year __________4__1__9__,__5__5__8__.__5__9 ______1__0__0__ ________1____,0__1__3__.__3__8__ ______4__1__8____,5__4__5__.__2__1__ __________1__5__8__,__9__2__0__.__5__8 ____1__0__0__ __________1____,0__1__3__.__3__8__ ________1__5__7__,__9__0__7__.2____0__

    Top five outstanding amounts:

    Total of top five Proportion of the outstanding amount

    outstanding amounts Aging to the total of receivables

    RMB %

    417,717.09 Within 1 year 99.6%

    There are no other receivables from shareholders holding over 5% (inclusive) of the Company

    shares.

    2. OTHER RECEIVABLES

    The aging analysis of other receivables is as follows:

    30/06/2009 31/12/2008

    Bad debt Bad debt

    Amount Proprtion provision Carrying amount Amount Proprtion provision Carrying amount

    RMB % RMB RMB RMB % RMB RMB

    Within 1 year 387,584.93 1 - 387,584.93 3,947,374.01 9 - 3,947,374.01

    1 to 2 years - - - 18,184,500.00 41 - 18,184,500.00

    2 to 3 years _4_0__,1_8_4_,_6_0_0_._0_0 __9_9_ _________-_ __ _4_0_,_1_8_4_,_6_0_0_.0_0_ __2_2_,_0_0_0_,1__0_0_.0_0_ __5_0_ __________-_ __ __2_2_,_0_0_0_,1_0__0_.0_0_

    T otal __4__0__,__5__7__2__,__1__8__4__.__9__3 __1__0__0__ __________________-__ ____ __4__0__,__5__7__2__,__1__8__4__.9__3__ ____4__4__,__1__3__1__,9____7__4__.0__1__ __1__0__0__ ____________________-__ ____ ____4__4__,__1__3__1__,9__7____4__.0__1__

    Disclosure of other receivables by category is as follows:

    30/06/2009 31/12/2008

    Bad debt Bad debt

    Item Amount Proprtion provision Carrying amount Amount Proprtion provision Carrying amount

    RMB % RMB RMB RMB % RMB RMB

    Individually significant 40,369,204.03 99 - 40,369,204.03 43,211,517.97 98 - 43,211,517.97

    Other insignificant

    receivables ____2_0_2_,_9_8_0_._9_0 ___1_ _________-_ __ ____2_0_2_,_9_8_0_.9_0_ _____9_2_0_,4__5_6_.0_4_ ___2_ __________-_ __ _____9_2_0_,4_5__6_.0_4_

    T otal __4__0__,__5__7__2__,__1__8__4__.__9__3 __1__0__0__ __________________-__ ____ __4__0__,__5__7__2__,__1__8__4__.9__3__ ____4__4__,__1__3__1__,9____7__4__.0__1__ __1__0__0__ ____________________-__ ____ ____4__4__,__1__3__1__,9__7____4__.0__1__

    Top five outstanding amounts:

    Total of top five Proportion of the outstanding amount

    outstanding amounts Aging to the total of other receivables

    RMB %

    184,704.03 within 1 year 0.46

    40,184,500.00 2 to 3 years 99.04

    There are no other receivables from shareholders holding over 5% (inclusive) of the Company

    shares.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 2 -

    IX. NOTES TO COMPANY’S FINANCIAL STATEMENTS - continued

    3. AVAILABLE-FOR-SALE FINANCIAL ASSETS

    30/06/2009 31/12/2008

    Category Fair value Fair value

    RMB RMB

    Available-for-sale equity instruments ____1__2__6__,9__0__6__,1__1__3__.5__1__ ______7__7__,2__8__3__,4__6__6__.4__6__

    4. LONG-TERM EQUITY INVESTMENTS

    (1) Details of long-term equity investments are as follows:

    cash

    initial Opening Share of dividends

    Investee investments Balance results for the period 2009 6.30

    RMB RMB RMB RMB RMB

    Using the equity method

    Shanghai Dazhong New

    Asia Co., Ltd. 84,628,129.42 98,874,008.04 7,360,245.54 (10,375,059.47) 95,859,194.11

    Shanghai JHJ International

    Transportation Co., Ltd. 40,254,477.70 147,617,202.02 3,669,653.71 - 151,286,855.73

    Shilian Jin Jiang Logistics

    Co., Ltd. ____3_,_0_1_2_,6_7_5_._0_0 ___________-_ __ ___________-_ __ _ _________- ____ ___________-_ __

    Sub-total __1_2_7_,_8_9_5_,2_8_2_._1_2 __2_4_6_,4_9_1_,_2_1_0_.0_6_ ___1_1_,0_2_9_,_8_9_9_.2_5_ _ (1_0_,_3_7_5_,0_5_9_._4_7_)_ __2_4_7_,1_4_6_,_0_4_9_.8_4_

    Using the cost method

    Shanghai JHJ Logistics

    Management Co., Ltd. 52,000,000.00 52,000,000.00 - - 52,000,000.00

    Shanghai Jin Jiang

    Automobile Services

    Co., Ltd. 538,135,811.60 538,135,811.60 - - 538,135,811.60

    Shanghai Jin Jiang

    International Refrigerated

    Logistic Co., Ltd. 95,000,000.00 95,000,000.00 - - 95,000,000.00

    Shanghai East Jin Jiang Hotel

    Co., Ltd. 16,555,237.81 16,555,237.81 - - 16,555,237.81

    Shanghai Global Paper

    Production Co., Ltd. 746,253.00 746,253.00 - - 746,253.00

    Guotai Jun'an

    Securities Co., Ltd.. 47,649,967.00 47,649,967.00 - - 47,649,967.00

    Guotai Jun'an Investment

    Management Co., Ltd. 31,974,279.24 31,974,279.24 - - 31,974,279.24

    Shanghai Guojia Industry

    Co., Ltd. 650,000.00 650,000.00 - - 650,000.00

    Shandong Guotai Co., Ltd. ______5_5_5_,0_0_0_._0_0 _____5_5_5_,_0_0_0_.0_0_ ___________-_ __ __ _________- ____ ______5_5_5_,0_0_0_._0_0

    Subtotal __7_8_3_,_2_6_6_,5_4_8_._6_5 __7_8_3_,2_6_6_,_5_4_8_.6_5_ ___________-_ __ ____ _______- ____ __7_8_3_,2_6_6_,_5_4_8_.6_5_

    Total ____9__1__1__,__1__6__1__,8__3__0__.__7__7 1,029,757,758.71 ______1__1__,0__2__9__,__8__9__9__.2__5__ ____(1__0__,__3__7__5__,0__5__9__.__4__7__)__ 1,030,412,598.49

    Less: Provision for impairment loss ____4_,4_5_1_,_2_5_3_.0_0_ ____4_,_4_5_1_,2_5_3_._0_0

    Net amount of long-term

    equity investments 1_,_0_2_5_,3_0_6_,_5_0_5_.7_1_ _1_,0_2_5_,_9_6_1_,3_4_5_._4_9

    ______________ ______________

    Changes in the provision for impairment loss for long-term equity investments:

    Investee 01/01/2009and

    30/06/2008

    RMB

    Shanghai Global Paper Production Co., Ltd. 746,253.00

    Guotai Junan Investment Management Co., Ltd 2,500,000.00

    Shanghai Guojia Industry Co., Ltd. 650,000.00

    Shandong Guotai Co., Ltd. ____5_5_5_,_0_0_0_.0_0_

    Total ____4__,__4__5__1__,2__5__3__.__0__0__

    (2) For long-term equity investments held by the Company on 30 June 2009, the investee’s ability

    to transfer funds to the Company is not restricted.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 3 -

    IX. NOTES TO COMPANY’S FINANCIAL STATEMENTS - continued

    5. OPERATING INCOME AND OPERATING COSTS

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    operating income operating cost operating income operating cost

    RMB _ _ _ _ _ _ _ _R_M__B_ _ _ _ _ _ _ _R_M__B_ _ _ _ RMB

    Ho tel and relevant business __9__,__8__1__7__,7__3__2__.__3__0 1__,7__3__5__,__4__6__1__.6__8__ 1__1__,0__5__1__,__6__2__6__.8__2__ __1__,9__8__1__,__4__2__1__.6__6__

    The aggregate amount of operating income from the top five customers was RMB 816,845.33

    (01/01/2008to 30/06/2008 RMB 1,204,627.00) which accounts for 8% (01/01/2008to

    30/06/2008:11%) of the total operating income.

    6. INVESTMENT INCOME

    01/01/2009to 01/01/2008to

    Items 30/06/2009 30/06/2008

    RMB RMB

    Dividends from investment carried at cost 212,050,771.16 262,473,819.90

    Gains recognised under equity method 11,029,899.25 15,382,939.18

    Gains on disposal of available-for-sale financial assets 17,626,139.46 8,837,214.18

    O thers __________-_ __ ___1_,_7_7_5_,5_6_0_._1_7

    __2__4__0__,7__0__6__,__8__0__9__.8__7__ __2__8__8__,__4__6__9__,5__3__3__.__4__3

    7. SUPPLEMENTARY INFORMATION TO THE CASH FLOW STATEMENT

    01/01/2009to 01/01/2008to

    30/06/2009 30/06/2008

    RMB RMB

    (1) Reconciliation of net profit to cash flow from operating activities:

    Net profit 234,813,908.73 284,810,951.86

    Add: Provision for impairment - -

    Depreciation of fixed assets 1,793,327.27 1,792,807.24

    Amortization of intangible assets 18,372.00 18,372.00

    Losses on disposal of fixed assets,

    intangible assets and other long term assets - -

    Gains arising from investments (240,706,809.87) (288,469,533.43)

    Decrease in deferred tax assets 26,651.06 38,132.60

    Decrease in inventories 36,697.20 2,206.32

    Decrease (increase) in receivables

    under operating activities 3,298,251.03 7,853,550.56

    Increase in payables under

    operating activities ___(_3_,2_5_7_,3_7_4_.2_2_) ____(4_,2_4_8_,6_1_7_._95_)

    Net cash flow from operating activities ______(__3__,9__7__6__,9__7__6__.8__0__) ________1__,7__9__7__,8__6__9__.__20__SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 4 -

    IX. NOTES TO COMPANY’S FINANCIAL STATEMENTS - continued

    7. SUPPLEMENTARY INFORMATION TO THE CASH FLOW STATEMENT - continued

    (2) Net change in cash and cash equivalents:

    Cash at the end of the period

    Cash at the closing of the period 326,394,657.96 148,947,345.02

    Less: Cash at the beginning of the year __2_6_0_,2_6_2_,8_9_2_.6_2_ __1_7_3_,1_5_1_,1_5_6_._98_

    Net increase in cash and cash equivalents ______6__6__,1__3__1__,7__6__5__.3__4__ ______(2__4__,2__0__3__,__81__1__.__96__)

    X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS

    (1) Related parties where a control relationship exists:

    Legal Organisation Place of Nature of Registered Proportion of

    Company name representative Type code registration business capital shareholdings

    RMB’000

    Jin Jiang Internationalg Yu Ming Liang Limited 13222031-2 Shanghai Travel, hotel 2,000,000 38.54%

    (Group)Co., Ltd. Company China

    (“Jin Jiang Group”) (state owned)

    The proportion of the voting power held by Jin Jiang Group is the same as of the shares.

    (2) Detail of subsidiaries please refers to Note VII.

    (3) The following are related parties where a control relationship dose not exists:

    Names Related party relationship

    Shanghai Jin Jiang Travel Co., Ltd. Fellow subsidiary

    Shanghai Jin Jiang International Hotel Facility Co., Ltd. Fellow subsidiary

    Shanghai Travel Co., Ltd. Fellow subsidiary

    Shanghai CITS International Travel Services Co., Ltd. Fellow subsidiary

    Shanghai Food (Group) Co., Ltd. Fellow subsidiary

    Shanghai Huating Overseas Tourist Co., Ltd. Fellow subsidiary

    Shanghai Jing Jiang International Travel Co., Ltd Fellow subsidiary

    Shanghai Jin Jiang Inn Hotel Co., Ltd. Fellow subsidiary

    Jin Jiang International Group (Hong Kong) Co., Ltd. Fellow subsidiary

    The above entities are called by a joint name of Jin Jiang Group Companies.

    The companies listed above are collectively regarded as Jin Jiang Group Companies.

    Names Related party relationship

    Shanghai Wanguo Vehicle Repair Factory Note1

    Shanghai JHJ International Transportaion Co., Ltd. Joint venture

    Shanghai Jinmao Jin Jiang Automobile Services Co., Ltd. Associate of subsidiary

    Shanghai Jin Jiang Automobile Sales Co., Ltd. Associate of subsidiary

    Shanghai Petrol Group Changle Road Gas Station Co., Ltd. Associate of subsidiary

    Shanghai Jin Jiang Public Traffic Co., Ltd. Associate of subsidiary

    Shanghai Yongda Fengdu Automobile

    Distribution and Services Co., Ltd. Associate of subsidiary

    Shanghai Pudong International Airport

    Transport Terminal Co., Ltd. Associate of subsidiary

    Note1: Details please refer to Notes VIII, 10(1).SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 5 -

    X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued

    (4) Significant transactions incurred between the Group and the above related parties in current

    year are as follows:

    (a) Pricing principle

    The Group set price according to the agreement on integrated services, products purchase

    and sales contracts signed by related parties.

    (b) Sales, vehicle operating income and purchases of goods

    Sales, foreign income and purchases between the Group and its related parties are as

    follows:

    01/01/2009to 01/01/2008to

    Company names Nature 30/06/2009 30/06/2008

    RMB RMB

    Jin Jiang Group Companies Vehicle operating

    and relevant business 5,216,403.00 3,725,075.00

    Hotel and

    relevant business _________- ___ _________-_ __

    __5__,__2__1__6__,4__0__3__.__0__0__ ____3__,7__2__5__,__0__7__5__.0__0__

    Jin Jiang Group Companies Purchase goods - 75,550.00

    Jin Jiang Automobile Sales Co., Ltd. Purchase goods __1_,_0_9_2_,3_9_9__.3_0_ __1_,0_9_3_,_4_8_6_.1_6_

    ____1__,__0__9__2__,3__9__9____.3__0__ ____1__,1__6__9__,__0__3__6__.1__6__

    (c) Assets transactions

    01/01/2009to 01/01/2008to

    Company names Nature 30/06/2009 30/06/2008

    RMB RMB

    Shanghai Jin Jiang Automobile Acquisition of

    Sales Co., Ltd. fixed assets 4__1__,__4__9__6,__9__2__3__.0__8__ ______8__,2__8__3__,4__0__0__.__0__0

    (d) Borrowing and loans

    Details of borrowings and loans between the Company and its related parties were as

    follows:

    Annual Amount incurred Amount incurred

    interest rate from 01/01/2009 to 30/06/2009 30/06/2009 in 2008 31/12/2008

    Loan to-other receivables % RMB % RMB % RMB % RMB %

    Shanghai Jinmao Jin Jiang

    AutomobileService Co., Ltd. 6.72 (3,500,000.00) 100 - - 3,500,000.00 - 3,500,000.00 17

    Shanghai Pudong International

    Airport Transport Terminal Co., Ltd.- _____-_ _ ____- 1_6_,92_2_,6_67_.2_4 _10_0 _(4_,2_30_,6_66_.6_7 ) __- 1_6_,92_2_,6_67_.2_4 __8_3

    (__3__,50__0__,0__00__.0__0) ______10__0 1__6__,92__2__,6__67__.2__4 __10__0 ____(7__30__,6__66__.6__7 ) 1__0__0 2__0__,42__2__,6__67__.2__4 __ 1__0__0SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 6 -

    X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued

    (4) Significant transactions incurred between the Group and the above related parties in current

    year are as follows: - continued

    (e)Other transactions

    01/01/2009to 01/01/2008to

    Company names Nature 30/06/2009 30/06/2008

    RMB RMB

    Expenses

    Jin Jiang Group Rental 1,558,116.00 587,802.00

    J in Jiang Group Companies Management fee ______1__3__1__,9__4__1__.__16__ ________1__3__7__,7__8__1__.__0__5

    __1__,6__9__0__,__0__5__7__.1__6__ ______7__2__5__,__5__8__3__.0__5__

    The management fee paid to Jin Jiang Group Companies is 2% of hotel income plus 3% of

    hotel and profit, as rewarding the service provided, including general administration,

    marketing, purchase and etc.

    01/01/2009to 01/01/2008to

    Company names Nature 30/06/2009 30/06/2008

    RMB RMB

    Income

    Shanghai Jin Jiang Automobile

    Sales Co., Ltd. Rental income - 834,180.00

    Shanghai Petrol Group Changle Road Gas

    Station Co., Ltd. Rental income ________-_ __ ____1_0_0_,0_0_0_._0_0

    ____________________-__ ____ ________9__3__4__,__1__8__0__.__0__0

    (f)Balance due to/from related parties

    Company names Name of related parties 30/06/2009 31/12/2008

    RMB RMB

    Accounts receivable Jin Jiang Group Companies ____1__,__0__3__1__,__2__5__6__.6__7__ ________7__4__5__,__7__8__6__.__3__9

    Other receivables Shanghai Jinmao Jin Jiang Automobile

    Services Co., Ltd. - 3,548,950.00

    Shanghai JHJ International

    Transportaiton Co., Ltd. - 700,000.00

    Shanghai Jin Jiang Traffic Service Co., Ltd. __________-_ __ ______1_,_3_8_8_._0_0

    ____________________-__ ____ ______4__,2__5__0__,__3__3__8__.0____0

    Advances to suppliers Jin Jiang Group Companies 25,200.00 24,300.00

    Shanghai Jin Jiang Automobile Sales

    Co., Ltd. _3_7_,_5_4_3_,_8_4_3_.2_3_ __2_3_,9_1_6_,_8_9_4_._9_2

    __3__7__,__5__6__9__,__0__4__3__.2__3__ ____2__3__,9__4__1__,__1__9__4__.__9__2

    Other non-current Shanghai Pudong International Airport

    assets Transport Terminal Co., Ltd. (Note) __1__6__,__9__2__2__,__6__6__7__.2__4__ ____1__6__,9__2__2__,__6__6__7__.__2__4SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 7 -

    X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued

    (4) Significant transactions incurred between the Group and the above related parties in current

    year are as follows: - continued

    (f)Balance due to/from related parties - continued

    Company names Name of related parties 30/06/2009 31/12/2008

    RMB RMB

    Accounts payable Jin Jiang Group Companies 22,350.00 -

    Shanghai Yongda Fengdu Automobile

    Distribution and Services Co., Ltd. __6_,_6_0_8_,_8_0_7_.0_1_ __________-_ __

    ____6__,__6__3__1__,__1__5__7__.0__1__ ____________________-__ ____

    Other payables Jin Jiang Group - 3,000,000.00

    Jin Jiang Group Companies 39,821,129.93 43,522,138.03

    Shanghai Jin Jiang Traffic Service Co., Ltd. 106,831.75 2,450,170.06

    Shanghai Wanguo Vehicle Repair Factory _1_8_,_5_8_5_,_2_3_1_.2_1_ __1_8_,5_8_5_,_2_3_1_._2_1

    __5__8__,__5__1__3__,__1__9__2__.8__9__ ____6__7__,5__5__7__,__5__3__9__.__3__0

    (5) Significant transactions between the Company and its related parties are as follow:

    (a) Pricing principle

    The Group set price according to the agreement on integrated services, products purchase

    and sales contracts signed by related parties.

    (b) Sales and purchases

    Sales and purchases between the company and its related parties are as follows:

    01/01/2009to 01/01/2008to

    Company names Nature 30/06/2009 30/06/2008

    RMB RMB

    Purchase

    J in Jiang Group Companies Purchase goods ____________________-__ __ __________23__9__,__97__5__.__9__6

    (c)Other transactions

    01/01/2009to 01/01/2008to

    Company names Nature 30/06/2009 30/06/2008

    RMB RMB

    Expenses

    Jin Jiang Group Rental 58,116.00 587,802.00

    Jin Jiang Group Companies(note) Management fee __________1__3__1__,9__4__1__.__1__6 __________1__3__7__,7__8__1__.__0__5

    Note: The management fee paid to Jin Jiang Group Companies is 2% of hotel income plus

    4% of hotel profit, as rewarding the service provided, including general administration,

    marketing, purchase and etc.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 8 -

    X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued

    (5) Significant transactions between the Company and its related parties are as follow: - continued

    (d)Balance due to/from related parties

    Company names Name of related parties 30/06/2009 31/12/2008

    RMB RMB

    Other Receivable Shanghai JHJ Logistic

    Management Co., Ltd. 184,704.03 3,027,017.97

    Shanghai Jin Jiang International

    Refrigerated Logistic Co., Ltd.(Note) 22,000,000.00 22,000,000.00

    Shanghai Wusong Logistics Refrigerated

    Logistics Co., Ltd.(Note) 18,184,500.00 18,184,500.00

    Shanghai JHJ International

    Transportation Co., Ltd. __________-_ __ _____7_0_0_,0_0_0_._0_0

    ____4__0__,3__6__9__,__2__0__4__.0__3__ ____4__3__,__9__1__1__,5__1__7__.__9__7

    A dvances to suppliers Jin Jiang Group Companies __________2__5__,__2__0__0__.0__0__ ____________2__4__,3__0__0__.__0__0

    A ccounts Payable Jin Jiang Group Companies ____________________-__ ____ ____________________-__ ____

    O ther payables Jin Jiang Group Companies ____________________-__ ____ __________4__6__2__,5__8__7__.__0__7

    Note: It represents the borrowing to the subsidaries without interest bearing.

    XI. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

    The Group's major financial instruments include equity investments, available-for-sale financial

    investment, accounts receivable, accounts payable and each financial instrument is detailed in

    Note VIII. Risks related to the financial instruments and the Group's risk management policies to

    mitigate such risks are as follows. The Group's management shall manage and monitor these risk

    exposures to ensure risks are under control within certain limits.

    1. Risk management objectives and policies

    The Group's risk management objectives are to achieve proper balance between risks and

    yield, minimize the adverse impacts of risks on the Group's operation performance, and

    maximize the benefits of the shareholders and other equity investors. Based on these risk

    management objectives, the Group's basic risk management strategy is to identify and

    analyse the industry's exposure to various risks, establish appropriate bottom line for risk

    tolerance and implement risk management, and monitor various risks in a timely and

    reliable manner to ensure risks are under control within certain limits.

    1.1 Market risk

    1.1.1. Currency risk

    Currency risk is the risk that losses will occur because of changes in foreign exchange rates.

    The Group's other principal activities are denominated and settled in RMB. Currency risk

    arising from the foreign currency balance of assets and liabilities has no significant impact

    on the Group's performance.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 5 9 -

    XI. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - continued

    1. Risk management objectives and policies - continued

    1.1 Market risk - continued

    1.1.2. Other price risk

    Investments classified as available-for-sale financial assets which are held by the Group,

    are measured at fair value at the balance sheet date. Therefore, the Group is exposed to

    risks of changes in securities market.

    1.2. Credit risk

    As at 30 June 2009, the Group’s maximum exposure to credit risk which will cause a

    financial loss to the Group due to failure to discharge an obligation by the counterparties

    and financial guarantees provided by the Group is arising from:

    ?The carrying amount of the recognised financial assets in the consolidated balance

    sheet. For financial instruments measured at fair value, the carrying amount reflects

    the exposure to risks (but not the maximum exposure to risks); the maximum exposure

    to risks may change depending on future changes in the fair value.

    In order to minimise the credit risk, the Group controls credit limits, credit approvals and

    conducts other monitoring procedures to ensure that follow-up action is taken to recover

    overdue debts. In addition, the Group reviews the recoverable amount of each individual

    trade debt at each balance sheet date to ensure that adequate impairment losses are made

    for irrecoverable amounts. In this regard, the management of the Group consider that the

    Group’s credit risk is significantly reduced

    The credit risk on liquid funds is limited because the counterparties are banks with high

    credit ratings assigned by international credit-rating agencies.

    The Group has adopted necessary policies to ensure all the customers with which it

    conducts sales transactions are with good credit records. The Group does not have any

    other significant concentration of credit risk.

    1.3. Liquidity risk

    In the management of the liquidity risk, the Group monitors and maintains a level of cash

    and cash equivalents deemed adequate by the management to finance the Group’s

    operations and mitigate the effects of fluctuations in cash flows.

    The management of the Group noted no material liquidity risk, regarding the low level of

    asset-liability ratio and sustainable financing ability.

    At 30 June 2009, the financial assets and financial liabilities of the Group will mature

    within one year except for some deposit and debt due from reform of other payables.SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 6 0 -

    XI. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - continued

    2. Fair value

    The fair values of the financial assets and financial liabilities are determined as follows:

    ?The fair value of financial assets and financial liabilities with standard terms and

    conditions and traded on active markets are determined with reference to quoted

    market bid prices and ask prices respectively;

    ?The fair value of other financial assets and financial liabilities (excluding derivative

    instruments) are determined in accordance with generally accepted pricing models

    based on discounted cash flow analysis using prices or rates from observable current

    market transactions.

    The Group’s management believes the book value of the financial assets measured by

    amortized cost in the financial statement is closed to the fair value.

    3. Sensitivity analysis

    The Group adopts the sensitivity analysis techniques to analyse the effects of reasonably

    possible changes in risk variables on the profit or loss for the period or on owners' equity.

    The reasonable changes of interest rate and exchange rate have little effect on the profit

    and equity in the period.

    Effects on equity of shareholders of the price fluctuation of stock market are as follows:

    Item Price fluctuation of the stock market Effects

    RMB’000

    Available-for-sale financial assets Increasing 10% 11,336

    Decreasing 10% (11,336)

    XII. CONTINGENCIES

    1. The Group’s subsidiary Shanghai Jin Jiang Automobile Sales Co., Ltd. provided guarantee to

    Shanghai Yongda Fengdu Automobile Distribution and Service Co., Ltd. for the short-term

    borrowings of RMB16,000,000.00 (2008:RMB16,000,000.00).

    2. The Group’s subsidiary Shanghai Jin Jiang Business and Travel Auto Services Co., Ltd.

    provided guarantee to Shanghai South Station Long Distance Passenger Terminal Co., Ltd. for

    short-term borrowings of RMB12,500,000.00 (2008:RMB12,500,000.00).SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 6 1 -

    XIII. COMMITMENTS

    (1)Operating lease commitments

    As of the balance sheet date, the Group has the following commitments in respect of

    non-cancelable operating leases:

    30/06/2009 31/12/2008

    RMB’000 RMB’000

    Minimum lease payments under non-cancelable

    operating leases:

    1st year subsequent to the balance sheet date 8,470 8,278

    2nd year subsequent to the balance sheet date 6,386 6,956

    3rd year subsequent to the balance sheet date 6,423 6,102

    S ubsequent periods ____1_0_,2_0_8_ ____1_0_,_5_6_6

    T otal ________3__1__,4__8__7__ ________3__1__,__9__0__2

    XIV. NON-ADJUSTING EVENTS AFTER THE BALANCE SHEET DATE

    As of the balance sheet date, the Group has no further significant events to disclose.

    XV. OTHER SIGNIFICANT EVENTS

    As of the balance sheet date, the Group has no further significant events to disclose.

    XVI. APPROVAL OF FINANCIAL STATEMENTS

    The Company and consolidated financial statements were approved by the board of directors and

    authorised for issue on 10 August 2009.

    * * *THE END OF THE REPORT* * *SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 6 2 -

    FOR THE YEAR ENDED 30 JUNE 2009

    SUPPLEMENTARY INFORMATION

    1. ITEMS AND AMOUNT AFTER DEDUCTING NON-RECURRING PROFIT OR LOSS

    Unit: yuan Currency: RMB

    Items of non-recurring profit or loss Amount

    Government grants 3,416,860.50

    Profit or loss on disposal of non-current asset 11,402,652.58

    Investment income from disposals of held-for-trading financial

    assets, Held-for-trading financial liabilities and

    available-for-sale financial assets

    17,630,900.37

    Other non-operating income or expenses after deducting

    provision for impairment of each asset (36,540.86)

    Tax effect of non-recurring profit or loss (6,490,540.26)

    Minotiry interest effect of non-recurring profit or loss (442,783.85)

    Total 25,480,548.48

    2. Return on net assets and earnings per share (“EPS”) after full dilution and weighted average

    calculation

    The calculation of return on net assets and EPS has been prepared by Shanghai Jin Jiang International

    Industrial Investment Co., Ltd in accordance with Information Disclosure and Presentation Rules for

    Companies Making Public Offering No. 9 – Calculation and Disclosure of Return on Net Assets and

    Earnings per Share (Revised 2007) issued by China Securities Regulatory Commission.

    Total profit for the reporting period Return on net assets EPS

    fully diluted weighted average fully diluted weighted average

    Net profit attributable to

    ordinary shareholders 7.72% 7.64% 0.254 0.254

    Net profit attributable to

    ordinary shareholders after

    extraordinary gains and losses 6.32% 6.26% 0.208 0.208

    Calculation formula

    Calculation formula of fully diluted return on net assets is set out below:

    Fully diluted return on net assets = P÷E

    Of which: “P” represents the net profit attributable to ordinary shareholders or the net profit

    attributable to ordinary shareholders after extraordinary gains and losses; “E” represents

    the year-end net assets attributable to ordinary shareholders.

    The “net profit attributable to ordinary shareholders” as mentioned above excludes profit and loss

    attributable to minority shareholders; the “net profit attributable to ordinary shareholders after

    extraordinary gains and losses” is the consolidated net profit after excluding profit and loss attributable to

    minority shareholders, extraordinary gains and losses of the parent company and related tax effect, and

    extraordinary gains and losses in various subsidiaries attributable to parent company shareholders and

    related tax effect; the “year-end net assets attributable to ordinary shareholders” excludes the amounts

    attributable to minority interest.

    Calculation formula of weighted average return on net assets is as below:

    P

    Weighted average return on net assets = -------------------------------------------------------------

    E0+NP÷2+Ei×Mi÷M0-Ej×Mj÷M0±Ek×Mk÷M0

    Of which: “P” represents net profit attributable to ordinary shareholders and net profit

    attributable to ordinary shareholders after extraordinary gains and losses respectively;SHANGHAI JIN JIANG INTERNATIONAL INVESTMENT INDUSTRY CO., LTD.

    - 6 3 -

    “NP” represents the net profit attributable to ordinary shareholders;

    “E0” represents the opening net assets attributable to ordinary shareholders;

    “Ei” represents increase in net assets attributable to ordinary shareholders

    resulted from activities like new issue of ordinary shares or conversion of

    convertible debt into ordinary shares, during the reporting period and;

    “Ej” represents decrease in net assets attributable to ordinary shareholders

    resulted from repurchase of ordinary shares or cash dividend to ordinary shareholders;

    “M0” represents number of months in the reporting period;

    “Mi” represents number of months from the month following the net assets

    increase to the end of the reporting period;

    “Mj” represents number of months from the month following the net assets

    decrease to the end of the reporting period;

    “Ek” represents change in net assets arising from other transactions or events;

    “Mk” represents number of months from the month following changes in net

    assets to the end of the reporting period.

    Calculation formula of basic EPS is as below:

    P P

    Basic EPS = -------- = ---------------------------------------------------

    S S0+S1+Si×Mi÷M0-Sj×Mj÷M0-Sk

    Of which: “P” represents net profit attributable to ordinary shareholders or net profit

    Attributable to ordinary shareholders after extraordinary gains and losses;

    “S” represents weighted average number of ordinary shares outstanding;

    “S0” represents total number of shares at the beginning of the year;

    “S1” represents increase in number of shares resulted from capitalisation of

    capital reserve or bonus shares issued during the reporting period;

    “Si” represents increase in number of shares resulted from new issue of ordinary

    shares or conversion of convertible debt into ordinary shares during the

    reporting period;

    “Sj” represents decrease in number of shares resulted from activities like

    repurchase of ordinary shares during the reporting period;

    “Sk” represents the number of shares reduced in share consolidation during the

    reporting period;

    “M0” represents number of months in the reporting period;

    “Mi” represents number of months from the month following increase in shares

    to the end of the reporting period;

    “Mj” represents number of months from the month following decrease in shares

    to the end of the reporting period.