上海锦江国际酒店发展股份有限公司
A 股股票代码：600754
B 股股票代码：900934
2016 年半年度报告
2016 年半年度报告
公司代码：600754、900934 公司简称：锦江股份、锦江 B 股
上海锦江国际酒店发展股份有限公司
2016 年半年度报告
重要提示
一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完
整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。
二、 本公司第八届董事会第二十二次会议于 2016 年 8 月 26 日审议通过了本半年度报告。公司全
体董事出席董事会会议。
三、 本公司按中国企业会计准则编制 2016 年半年度财务报表，经德勤华永会计师事务所（特殊
普通合伙）审阅，并出具了德师报(阅)字(16)第 R0043 号标准无保留意见的审阅报告。
四、 公司负责人董事长俞敏亮先生、首席执行官张晓强先生、主管会计工作负责人首席财务官沈
莉女士及会计机构负责人（会计主管人员）吴琳女士声明：保证半年度报告中财务报告的真
实、准确、完整。
五、 经董事会审议的报告期利润分配预案或公积金转增股本预案
无
六、 前瞻性陈述的风险声明
如半年度报告涉及未来计划等前瞻性陈述，同时附有相应的警示性陈述，则应当声明该计划不构
成公司对投资者的实质承诺，请投资者注意投资风险。
七、 是否存在被控股股东及其关联方非经营性占用资金情况
否
八、 是否存在违反规定决策程序对外提供担保的情况？
否
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2016 年半年度报告
九、 关于卢浮集团股份购买及其价格调整可能
于2015年2月16日，公司全资子公司海路投资有限公司与 Star SDL Investment Co S.à r.l.签署
收购卢浮集团100%股权的相关《股份购买协议》。于2015年2月27日（北京时间），本次交易完成
了各项相关交割工作。根据《股份购买协议》，标的公司的股权价格存在按照约定的调整机制进
行调整的可能。敬请投资者在阅读本财务报告时予以关注。
十、 关于铂涛集团股份购买及其价格调整可能
于2015年9月18日，公司与Prototal Enterprises Limited, Ever Felicitous Limited, Keystone
Asia Holdings Limited, SCC Growth 2010-Peak Holdco,Ltd., Sequoia Capital Global Growth
Fund,L.P., Sequoia Capital Global Growth Principals Fund, L.P., Happy Travel Limited,
Happy Boat Lodging Limited, Jaguar Investment Pte Ltd., Ctrip Investment Holding Ltd.,
Smartech Resources Limited, Chien Lee, Minjian Shi等 13名交易对方签署收购铂 涛集团
81.0034%股权的相关《股份购买协议》。于2016年2月26日，本次交易完成了各项相关交割工作。
根据《股份购买协议》，标的公司的股权价格存在按照约定的调整机制进行调整的可能。敬请投
资者在阅读本财务报告时予以关注。
十一、其他
本半年度报告分别以中文和英文两种文字印制，在对两种语言文本的说明上存在歧义时，以中文
文本为准。
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2016 年半年度报告
目录
第一节 释义 …………………………………………………………………………………… 4
第二节 公司简介 ……………………………………………………………………………… 6
第三节 会计数据和财务指标摘要 …………………………………………………………… 8
第四节 董事会报告 …………………………………………………………………………… 10
第五节 重要事项 ……………………………………………………………………………… 31
第六节 股份变动及股东情况 ………………………………………………………………… 37
第七节 优先股相关情况 ……………………………………………………………………… 40
第八节 董事、监事、高级管理人员情况 …………………………………………………… 41
第九节 公司债券相关情况 …………………………………………………………………… 42
第十节 财务报告 ……………………………………………………………………………… 43
第十一节 备查文件目录 ………………………………………………………………………… 44
附：1、审阅报告 ……………………………………………………………………………………… 45
2、财务报表 ……………………………………………………………………………………… 46
3、财务报表附注 ………………………………………………………………………………… 55
4、补充资料 ………………………………………………………………………………………163
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2016 年半年度报告
第一节 释义
在本报告书中，除非文义另有所指，下列词语具有如下含义：
常用词语释义
公司、本公司、锦江股份 指 上海锦江国际酒店发展股份有限公司
锦江酒店集团 指 上海锦江国际酒店（集团）股份有限公司，本公司控股股东
锦江国际（集团）有限公司，锦江股份、锦江酒店集团之法
锦江国际 指
人实际控制人
锦江都城 指 上海锦江都城酒店管理有限公司
锦江之星 指 锦江之星旅馆有限公司
旅馆投资公司 指 上海锦江国际旅馆投资有限公司
金广快捷 指 山西金广快捷酒店管理有限公司
时尚之旅 指 时尚之旅酒店管理有限公司
锦卢投资公司 指 上海锦卢投资管理有限公司
SAILING INVESTMENT CO.SARL(海路投资有限公司)，
海路投资公司 指
注册于卢森堡
卢浮集团、GDL 指 Group de Louvre，注册于法国
卢浮酒店集团、LHG 指 Louvre Hotels Group，注册于法国
铂涛集团 指 Keystone Lodging Holdings Limited 及下属子公司的合称
达华宾馆 指 上海锦江达华宾馆有限公司
闵行饭店 指 上海闵行饭店有限公司
锦盘酒店 指 上海锦盘酒店有限公司
东亚饭店 指 上海锦江国际酒店发展股份有限公司东亚饭店
南京饭店 指 上海锦江国际酒店发展股份有限公司南京饭店
新城饭店 指 上海锦江国际酒店发展股份有限公司新城饭店
新亚大酒店 指 上海锦江国际酒店发展股份有限公司新亚大酒店
南华亭宾馆 指 上海锦江国际酒店发展股份有限公司南华亭宾馆
金沙江宾馆 指 上海锦江国际酒店发展股份有限公司金沙江宾馆
白玉兰酒店 指 上海锦江国际酒店发展股份有限公司白玉兰酒店
青年会宾馆 指 上海锦江国际酒店发展股份有限公司青年会宾馆
餐饮投资公司 指 上海锦江国际餐饮投资管理有限公司
新亚食品 指 上海新亚食品有限公司
锦江食品 指 上海锦江国际食品餐饮管理有限公司
锦箸餐饮 指 上海锦箸餐饮管理有限公司
锦亚餐饮 指 上海锦亚餐饮管理有限公司
锦江同乐 指 上海锦江同乐餐饮管理有限公司
上海吉野家 指 上海吉野家快餐有限公司
上海肯德基 指 上海肯德基有限公司
新亚富丽华 指 上海新亚富丽华餐饮股份有限公司
杭州肯德基 指 杭州肯德基有限公司
无锡肯德基 指 无锡肯德基有限公司
苏州肯德基 指 苏州肯德基有限公司
静安面包房 指 上海静安面包房有限公司
锦江财务公司 指 锦江国际集团财务有限责任公司
长江证券 指 长江证券股份有限公司
申万宏源 指 申万宏源集团股份有限公司
弘毅投资基金 指 弘毅（上海）股权投资基金中心（有限合伙）
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2016 年半年度报告
国盛投资 指 上海国盛集团投资有限公司
长城资管 指 中国长城资产管理公司
华安资管 指 华安未来资产管理（上海）有限公司
上海国际资管 指 上海国际集团资产管理有限公司
中国证监会 指 中国证券监督管理委员会
上交所 指 上海证券交易所
香港联交所 指 香港联合交易所有限公司
上海市国资委 指 上海市国有资产监督管理委员会
《公司法》 指 《中华人民共和国公司法》
《证券法》 指 《中华人民共和国证券法》
出租率 指 （实际出租客房数/可供出租客房总数）×100%，%
平均房价 指 客房总收入/实际出租客房数，元/间
每间可供出租客房提供的每日平均客房收入，
RevPAR 指
平均客房收入=平均房价×平均出租率，元/间
EBITDA 指 扣除利息所得税折旧摊销前的利润
《公司章程》 指 《上海锦江国际酒店发展股份有限公司章程》
报告期、本期， 2016 年 1 月 1 日至 2016 年 6 月 30 日，
指
报告期末，本期末 2016 年 6 月 30 日
上年同期、上期， 2015 年 1 月 1 日至 2015 年 6 月 30 日，
指
上年末 2015 年 12 月 31 日
元、万元 指 人民币元、人民币万元
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2016 年半年度报告
第二节 公司简介
一、 公司信息
公司的中文名称 上海锦江国际酒店发展股份有限公司
公司的中文简称 锦江股份
Shanghai Jin Jiang International Hotels
公司的外文名称
Development Co., Ltd.
公司的外文名称缩写 JINJIANG SHARES
公司的法定代表人 俞敏亮 先生
二、 联系人和联系方式
董事会秘书 证券事务代表
姓名 胡 暋 女士 杨 劼 女士
联系地址 上海市延安东路100号25楼 上海市延安东路100号25楼
电话 86-21-63217132 86-21-63217132
传真 86-21-63217720 86-21-63217720
电子信箱 JJIR@jinjianghotels.com JJIR@jinjianghotels.com
三、 基本情况变更简介
中国（上海）自由贸易试验区杨高南路889号
公司注册地址
东锦江大酒店商住楼四层（B区域）
公司注册地址的邮政编码 200127
公司办公地址 上海市延安东路100号25楼
公司办公地址的邮政编码 200002
公司网址 http://www.jinjianghotels.sh.cn
电子信箱 JJIR@jinjianghotels.com
四、 信息披露及备置地点变更情况简介
公司选定的信息披露报纸名称 《上海证券报》、《大公报》
登载半年度报告的中国证监会指定网站
http://www.sse.com.cn
的网址
公司半年度报告备置地点 公司董事会秘书室
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2016 年半年度报告
五、 公司股票简况
股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称
A股 上海证券交易所 锦江股份 600754 新亚股份
B股 上海证券交易所 锦江B股 900934 新亚B股
六、 公司报告期内注册变更情况
注册登记日期 2016年5月20日
中国（上海）自由贸易试验区杨高南路889号
注册登记地点
东锦江大酒店商住楼四层（B区域）
企业法人营业执照注册号 91310000132203715W
税务登记号码 91310000132203715W
组织机构代码 91310000132203715W
报告期内注册变更情况查询索引 无
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2016 年半年度报告
第三节 会计数据和财务指标摘要
一、 公司主要会计数据和财务指标
(一) 主要会计数据
单位：元 币种：人民币
本报告期比
本报告期 上年同期
主要会计数据 上年同期增减
（2016年1至6月） （2015年1至6月）
(%)
营业收入 4,368,181,085.26 2,489,329,045.96 75.48
归属于上市公司股东的净利润 299,157,333.01 291,508,994.19 2.62
归属于上市公司股东的扣除非经常
101,687,059.87 152,729,397.21 -33.42
性损益的净利润
经营活动产生的现金流量净额 762,561,844.39 372,083,696.05 104.94
本报告期末比
本报告期末 上年度末
上年度末增减
（2016年6月30日） （2015年12月31日）
(%)
归属于上市公司股东的净资产 7,951,669,649.18 8,283,799,000.95 -4.01
总资产 42,902,308,015.94 27,026,378,513.76 58.74
(二) 主要财务指标
本报告期 上年同期 本报告期比
主要财务指标
（2016年1至6月） （2015年1至6月） 上年同期增减(%)
基本每股收益（元／股） 0.3718 0.3623 2.62
稀释每股收益（元／股） 不适用
不适用 不适用
扣除非经常性损益后的
0.1264 0.1898 -33.42
基本每股收益（元／股）
加权平均净资产收益率（%） 3.72 3.35 增加0.37个百分点
扣除非经常性损益后的
1.26 1.76 减少0.50个百分点
加权平均净资产收益率（%）
汇率
2016 年 6 月 30 日 2015 年 12 月 31 日 2015 年 6 月 30 日
1 美元对人民币元 6.6312 6.4936 6.1136
1 欧元对人民币元 7.3750 7.0952 6.8699
1 港币对人民币元 0.85467 0.83778 0.78861
注：汇率是指中国人民银行授权中国外汇交易中心公布的银行间外汇市场人民币汇率中间价。
二、 境内外会计准则下会计数据差异
□适用 √不适用
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2016 年半年度报告
三、 非经常性损益项目和金额
√适用 □不适用
单位：元 币种：人民币
非经常性损益项目 金额 附注（如适用）
非流动资产处置损益 6,976,911.56
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 公司、锦江之星、锦江都城等
31,026,515.03
一定标准定额或定量持续享受的政府补助 取得的政府补助
除外
除同公司正常经营业务相关的有效套期保
值业务外，持有交易性金融资产、交易性金
出售长江证券股票取得的
融负债产生的公允价值变动损益，以及处置 206,373,718.01
投资收益等
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
除上述各项之外的其他营业外收入和支出 22,040,481.29
少数股东权益影响额 -941.94
出售长江证券股票和取得的
所得税影响额 -68,946,410.81
政府补助等应计企业所得税额
合计 197,470,273.14
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2016 年半年度报告
第四节 董事会报告
一、董事会关于公司报告期内经营情况的讨论与分析
今年上半年，面临错综复杂的国内外形势和持续较大的经济下行压力，整个酒店餐饮行业充
满机遇和挑战。为贯彻“十三五”规划明确提出的大力发展旅游业、推动生活性服务业向精细和
高品质转变的发展要求，公司坚定不移地执行发展战略，积极实施变革整合等措施，强化运营管
理，较好地完成了今年上半年主要经营任务。
根据公司“全球布局、跨国经营”的发展战略，于 2015 年 9 月 18 日，公司与 Prototal
Enterprises Limited, Ever Felicitous Limited, Keystone Asia Holdings Limited, SCC Growth
2010-Peak Holdco,Ltd., Sequoia Capital Global Growth Fund,L.P., Sequoia Capital Global
Growth Principals Fund, L.P., Happy Travel Limited, Happy Boat Lodging Limited, Jaguar
Investment Pte Ltd., Ctrip Investment Holding Ltd., Smartech Resources Limited, Chien
Lee, Minjian Shi 等 13 名交易对方签署与本次收购铂涛集团 81.0034%股权交易有关的《股份购
买协议》；于 2016 年 2 月 26 日，本次交易完成了各项相关交割工作，公司拥有铂涛集团 81.0034%
股权。公司于 2016 年 2 月底完成股权交割，将铂涛集团纳入财务报表合并范围。于 2016 年 3 至
6 月份，铂涛集团实现合并营业收入 120,268 万元，归属于母公司所有者的净利润 4,406 万元，
扣除息税折旧摊销前利润（EBITDA）24,048 万元。于 2016 年 6 月 30 日，铂涛集团资产总额为 75
亿元，归属于母公司所有者的权益为 34 亿元。
于 2016 年 1 至 6 月份，公司实现合并营业收入 436,818 万元，比上年同期增长 75.48%。实
现营业利润 36,019 万元，比上年同期下降 6.80%。实现归属于上市公司股东的净利润 29,916 万
元，比上年同期增长 2.62%。实现归属于上市公司股东的扣除非经常性损益后的净利润 10,169 万
元，比上年同期下降 33.42%。
于 2016 年 6 月 30 日，公司资产总额 4,290,231 万元，比上年末增长 58.74%；负债总额
3,371,053 万元，比上年末增长 81.71%；归属于上市公司股东的净资产 795,167 万元，比上年末
下降 4.01%。
于 2016 年 1 至 6 月份，公司实现经营活动产生的现金流量净额 76,256 万元，比上年同期增
长 104.94%。
报告期内，公司主要会计数据与上年同期相比发生变动的主要因素如下：
合并营业收入的同比增长，主要受三个因素的影响：一是公司完成收购铂涛集团 81.0034%股
权并将其纳入财务报表合并范围；二是于 2015 年 3 月份纳入财务报表合并范围的卢浮集团今年上
半年同比新增两个月份营业收入；三是锦江都城、锦江之星等锦江系列品牌业务收入同比增加。
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2016 年半年度报告
实现归属于上市公司股东的净利润的同比增长，主要受两个因素变动的影响：一是公司取得
的上海肯德基、杭州肯德基、苏州肯德基和无锡肯德基投资收益同比增加；二是公司取得出售长
江证券股票所得税前收益同比增加。
总资产比上年末增长，主要是公司完成收购铂涛集团 81.0034%股权并将其纳入财务报表合并
范围，以及因该等收购发生筹资活动等所致。负债总额比上年末增长，主要是为收购铂涛集团
81.0034%股权，向银行融入借款所致。归属于上市公司所有者权益比上年末下降，主要是可供出
售金融资产于报告期末公允价值下降，以及公司于 2016 年实施上年度利润分配金额比 2015 年增
加等所致。
经营活动产生的现金流量净额的同比增长，主要是公司完成收购铂涛集团 81.0034%股权并将
其纳入财务报表合并范围而同比新增其 2016 年 3 至 6 月份现金流量净额，以及于 2015 年 3 月份
纳入财务报表合并范围的卢浮集团今年上半年同比新增两个月份经营活动现金流量净额等所致。
有限服务型酒店业务
1、全球酒店业务发展概况
于 2016 年 1 至 6 月份，有限服务型酒店业务实现合并营业收入 424,706 万元，比上年同期增
长 79.63%；实现归属于有限服务型酒店业务分部的净利润 13,179 万元，比上年同期下降 7.11%。
中国大陆境内营业收入实现 253,433 万元，比上年同期增长 95.33%；中国大陆境外营业收入
171,273 万元, 比上年同期增长 60.53%。中国大陆境内营业收入占全部酒店业务的比重为 59.67%，
中国大陆境外营业收入占全部酒店业务的比重为 40.33%。
合并营业收入中的首次加盟费收入 7,214 万元，比上年同期增长 223.93%；持续加盟费收入
62,872 万元，比上年同期增长 89.81%；中央订房系统渠道销售费收入 2,557 万元，比上年同期下
降 2.22%。
合并营业收入比上年同期增长，主要是公司完成收购铂涛集团 81.0034%股权并将其纳入财务
报表合并范围，于 2015 年 3 月份纳入合并财务报表范围的卢浮集团今年上半年同比新增两个月份
的合并营业收入，以及锦江都城、锦江之星等锦江系列品牌业务同比增长等所致。
归属于有限服务型酒店业务分部的净利润比上年同期减少，主要受两个因素的影响：一是新
增铂涛集团 2016 年 3 至 6 月份利润；二是受法国等地恐怖袭击事件影响，卢浮集团利润同比减少。
于 2016 年 1 至 6 月份，净增开业有限服务型连锁酒店 2,856 家，其中直营酒店 513 家，加盟
酒店 2,343 家。截至 2016 年 6 月 30 日，已经开业的有限服务型连锁酒店合计达到 5,079 家，其
中开业直营酒店 1,044 家，占比 20.56%；开业加盟酒店 4,035 家，占比 79.44%。已经开业的有限
服务型连锁酒店客房总数 471,737 间，其中开业直营酒店客房间数 110,091 间，占比 23.34%；开
业加盟酒店客房间数 361,646 间，占比 76.66%。
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2016 年半年度报告
于 2016 年 1 至 6 月份，净增签约有限服务型连锁酒店 3,753 家，其中直营酒店 493 家，加盟
酒店 3,260 家。截至 2016 年 6 月 30 日，已经签约的有限服务型连锁酒店合计达到 6,292 家，其
中签约直营酒店 1,083 家，占比 17.21%；签约加盟酒店 5,209 家，占比 82.79%。已经签约的有限
服务型连锁酒店客房总数 579,321 间，其中签约直营酒店客房间数为 115,446 间，占比 19.93%；
签约加盟酒店客房间数为 463,875 间，占比 80.07%。
截至 2016 年 6 月 30 日，公司旗下签约有限服务型连锁酒店分布于中国大陆境内 31 个省、自
治区和直辖市的 451 个城市，以及中国大陆境外 62 个国家或地区。
2、按地区分的有限服务型连锁酒店运营情况
（1）中国大陆境内业务运营情况
于 2016 年 1 至 6 月份，公司于中国大陆境内有限服务型连锁酒店业务实现合并营业收入
253,433 万元，比上年同期增长 95.33%；实现归属于母公司所有者的净利润 8,262 万元，比上年
同期增长 14.42%；合并营业收入中的首次加盟费收入 7,214 万元，比上年同期增长 233.93%；持
续加盟费收入 24,067 万元，比上年同期增长 163.69%；中央订房系统渠道销售费 2,557 万元，比
上年同期下降 2.22%。
合并营业收入比上年同期增长，主要受两个因素的影响：一是公司完成收购铂涛集团
81.0034%股权并将其纳入财务报表合并范围；二是锦江都城、锦江之星等锦江系列品牌业务同比
增长。
归属于母公司的净利润比上年同期增长，主要是新增铂涛集团 2016 年 3 至 6 月份归属于母公
司所有者的净利润所致。
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2016 年半年度报告
下表列示了公司截至 2016 年 6 月 30 日中国大陆境内有限服务型酒店家数和客房间数情况：
中国大陆境内开业酒店 中国大陆境内签约酒店
省(或 分布
直营酒店 加盟酒店 直营酒店 加盟酒店
直辖市、 城市
酒店 客房 酒店 客房 酒店 客房 酒店 客房
自治区) 数
家数 间数 家数 间数 家数 间数 家数 间数
北京 1 49 6,173 227 21,350 49 6,173 273 24,788
天津 1 13 1,693 84 7,269 14 1,848 125 10,529
河北 21 5 674 146 11,976 5 674 216 17,094
山西 13 19 2,275 72 6,610 20 2,410 102 8,926
内蒙古 13 2 206 45 4,442 2 206 66 6,016
辽宁 16 29 3,500 84 8,151 31 3,799 107 9,971
吉林 8 13 1,672 29 2,753 13 1,672 43 4,051
黑龙江 9 8 843 40 3,506 8 843 50 4,460
上海 1 60 7,856 141 14,549 73 10,003 169 17,046
江苏 50 61 6,729 310 28,059 62 6,848 415 37,379
浙江 33 33 4,096 93 8,746 36 4,530 135 12,948
安徽 24 15 1,826 70 5,713 15 1,826 113 9,141
福建 14 17 2,160 66 6,731 17 2,160 83 8,332
江西 15 29 3,153 86 7,636 29 3,153 107 9,510
山东 33 21 2,336 258 22,876 21 2,336 358 30,610
河南 21 9 1,407 134 12,715 9 1,407 185 17,248
湖北 17 42 4,743 120 10,804 42 4,743 164 14,668
湖南 16 55 5,715 105 8,319 56 5,855 133 10,178
广东 25 136 15,823 405 39,220 138 16,128 522 50,834
广西 14 13 1,645 49 4,016 13 1,645 69 5,939
海南 8 9 1,075 37 3,905 9 1,075 41 4,185
重庆 1 15 1,525 71 5,642 15 1,525 97 7,239
四川 27 39 4,317 143 11,546 39 4,317 209 16,557
贵州 9 19 1,898 75 6,831 19 1,898 109 10,177
云南 15 9 958 38 3,024 10 1,164 60 4937
西藏 3 2 218 7 616 2 218 9 843
陕西 9 23 2,490 99 9,715 23 2,490 133 12,509
甘肃 12 4 299 34 2,786 5 406 57 4,720
青海 3 4 269 18 1,461 4 269 29 2,144
宁夏 5 3 377 16 1,466 4 522 25 2,193
新疆 14 4 455 30 2,075 7 828 45 3,303
合计 451 760 88,406 3,132 284,508 790 92,971 4,249 378,475
注：大陆境内签约酒店合计 5,039 家，包括开业酒店 3,892 家和尚未开业酒店 1,147 家，以
下计算口径同。
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2016 年半年度报告
（2）中国大陆境外业务运营情况
于 2016 年 1 至 6 月份，公司于中国大陆境外有限服务型连锁酒店业务实现合并营业收入
23,588 万欧元，折合人民币 171,273 万元，比上年同期增长 60.53%；实现归属于母公司所有者的
净利润 677 万欧元，折合人民币 4,917 万元，比上年同期下降 29.41%。
合并营业收入比上年同期增长，主要是于 2015 年 3 月份纳入合并财务报表范围的卢浮集团今
年上半年同比新增两个月份的合并营业收入。归属于母公司所有者净利润的减少，主要是受法国
等地恐怖袭击事件影响。
下表列示了公司截至 2016 年 6 月 30 日中国大陆境外有限服务型酒店家数和客房间数情况：
中国大陆境外开业酒店 中国大陆境外签约酒店
中国大陆
直营酒店 加盟酒店 直营酒店 加盟酒店
境外国家
酒店 客房 酒店 客房 酒店 客房 酒店 客房
（或地区）
家数 间数 家数 间数 家数 间数 家数 间数
欧洲 283 21,615 721 49,833 287 22,262 737 51,232
其中：法国 196 14,085 634 40,331 196 14,085 644 41,219
亚洲 100 12,695 127 18,000
美洲 41 7,416 42 7,676
非洲 1 70 41 7,194 6 213 54 8,492
合计 284 21,685 903 77,138 293 22,475 960 85,400
注：大陆境外签约酒店合计 1,253 家，包括开业酒店 1,187 家和尚未开业酒店 66 家，以下计
算口径同。
3、按品牌分的有限服务型连锁酒店运营情况
在 2016 年 1 至 6 月份净增开业的有限服务型连锁酒店 2,856 家中，“锦江都城”品牌连锁酒
店增加 5 家，“锦江之星”品牌连锁酒店增加 58 家，“百时快捷”品牌连锁酒店增加 0 家，“金
广快捷”品牌连锁酒店减少 27 家；“Première Classe”品牌连锁酒店增加 5 家，“Campanile”
品牌连锁酒店减少 4 家，“Kyriad” 系列品牌连锁酒店增加 3 家，“Golden Tulip” 系列品牌
连锁酒店增加 22 家；新增“麗枫”品牌连锁酒店 121 家，“喆啡”品牌连锁酒店 49 家，“IU”
品牌连锁酒店 118 家，“七天”系列品牌连锁酒店 2,335 家，“派”品牌连锁酒店 112 家，其他
品牌连锁酒店 59 家。
截至 2016 年 6 月 30 日，已经开业的有限服务型连锁酒店合计为 5,079 家，“锦江都城”品
牌连锁酒店 37 家，“锦江之星”品牌连锁酒店 962 家，“百时快捷”品牌连锁酒店 65 家，“金
广快捷”品牌连锁酒店 38 家；“Première Classe”品牌连锁酒店 264 家，“Campanile”品牌连
锁酒店 374 家，“Kyriad 系列”品牌连锁酒店 253 家,“Golden Tulip 系列”品牌连锁酒店 292
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2016 年半年度报告
家；“麗枫”品牌连锁酒店 121 家，“喆啡”品牌连锁酒店 49 家，“IU”品牌连锁酒店 118 家，
“七天”系列品牌连锁酒店 2,335 家，“派”品牌连锁酒店 112 家，其他品牌连锁酒店 59 家。
截至 2016 年 6 月 30 日，已经签约的有限服务型连锁酒店 6,292 家中，“锦江都城”品牌连
锁酒店 67 家；“锦江之星”品牌连锁酒店 1,164 家，“百时快捷”品牌连锁酒店 69 家，“金广
快捷”品牌连锁酒店 67 家；“Première Classe”品牌连锁酒店 267 家， “Campanile”品牌连
锁酒店 382 家，“Kyriad 系列”品牌连锁酒店 254 家, “Golden Tulip 系列”品牌连锁酒店 339
家；“麗枫”品牌连锁酒店 274 家，“喆啡”品牌连锁酒店 119 家，“IU”品牌连锁酒店 167 家，
“七天”系列品牌连锁酒店 2,701 家，“派”品牌连锁酒店 202 家，其他品牌连锁酒店 220 家。
⑴ “锦江都城”、“锦江之星”等品牌系列的 RevPAR 及其与上年同期比较的情况
下表列示了 2016 年 1 至 6 月份“锦江都城”、“锦江之星”、“金广快捷”和“百时快捷”
四个品牌的 RevPAR 及其与上年同期比较的情况：
平均房价 平均出租率 RevPAR
（人民币元/间） （%） (人民币元/间)
品牌
2016 年 2015 年 2016 年 2015 年 2016 年 2015 年 同比增减
1至6月 1至6月 1至6月 1至6月 1至6月 1至6月 （%）
锦江都城 311.99 306.04 70.12 67.25 218.77 205.81 6.30
锦江之星 182.13 178.45 75.38 77.99 137.29 139.17 -1.35
金广快捷 151.97 163.47 56.79 55.10 86.30 90.07 -4.19
百时快捷 99.32 110.46 62.59 62.28 62.16 68.79 -9.64
平均 183.80 180.06 74.09 75.92 136.18 136.70 -0.38
注:自 2016 年 5 月起，实施“营改增”政策。报告期内 5 至 6 月份平均房价和 RevPAR 不含流
转税。
截至 2016 年 6 月 30 日，上述有限服务型连锁酒店品牌分布于中国境内 31 个省、自治区和直
辖市的 339 个城市，以及中国大陆境外 2 个国家或地区。
⑵ “麗枫”、“喆啡”等品牌系列的 RevPAR 情况
下表列示了 2016 年 3 至 6 月份“麗枫”、“喆啡”、“IU”、“七天”系列、派和铂涛集团
其他品牌的 RevPAR 情况：
2016 年 3 至 6 月 2016 年 3 至 6 月 2016 年 3 至 6 月
品牌
平均房价(元/间) 平均出租率（%） RevPAR(元/间)
麗枫 260.16 79.14 205.89
喆啡 234.95 61.84 145.29
IU 164.93 81.14 133.82
七天系列 141.52 83.05 117.53
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2016 年半年度报告
派 135.37 78.34 106.05
其他品牌 239.02 52.69 125.94
平均 149.01 81.81 121.91
注:自 2016 年 5 月起，实施“营改增”政策。报告期内 5 至 6 月份平均房价和 RevPAR 不含流
转税。
截至 2016 年 6 月 30 日，上述有限服务型连锁酒店品牌分布于中国境内 31 个省、自治区和直
辖市的 361 个城市，以及中国大陆境外 8 个国家或地区。
⑶ “Campanile”、“Golden Tulip”等品牌系列的 RevPAR 情况
下表列示了 2016 年 1 至 6 月份“Première Classe”、“Campanile”、“Kyriad”和“Golden
Tulip”系列四个品牌的 RevPAR 情况：
平均房价 平均出租率 RevPAR
(欧元/间) （%） (欧元/间)
品牌
2016 年 2015 年 2016 年 2015 年 2016 年 2015 年
1至6月 3至6月 1至6月 3至6月 1至6月 3至6月
Première Classe 40.26 39.94 62.55 68.08 25.18 27.19
Campanile 59.14 59.03 62.87 67.80 37.18 40.02
Kyriad 系列 62.90 63.80 58.49 63.68 36.79 40.63
Golden Tulip 系列 69.09 75.62 54.70 57.30 37.79 43.33
平均 58.37 58.72 59.40 64.48 34.67 37.86
截至 2016 年 6 月 30 日，上述有限服务型连锁酒店品牌分布于中国境内 7 个省、自治区和直
辖市的 15 个城市，以及中国大陆境外 59 个国家或地区。
预计 2016 年第三季度公司全部有限服务型连锁酒店运营及管理业务收入为 289,300 万元至
319,700 万元，其中中国大陆境内业务收入 203,300 万元至 224,700 万元，中国大陆境外业务收
入 11,940 万欧元至 13,200 万欧元。鉴于经营过程中存在各种不确定性，预计数据最终与定期报
告数据存在差异，因而该等预计数据谨供投资者参考。
食品及餐饮业务
于 2016 年 1 至 6 月份，食品及餐饮业务实现合并营业收入 12,101 万元，比上年同期下降
3.04%；主要是从事团膳业务的锦江食品营业收入比上年同期增长，以及从事中式快餐连锁的锦亚
餐饮营业收入比上年同期下降等共同影响所致。归属于食品及餐饮业务分部的净利润 7,892 万元，
比上年同期增长 175.85%；主要原因：一是上海肯德基因营业收入比上年同期增长，报告期内公
司取得的投资收益比上年同期增加 3,188 万元；二是公司以“成本法”核算投资收益的苏州肯德
基、无锡肯德基和杭州肯德基 2015 年度股利比上年增加 1,418 万元。
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2016 年半年度报告
以下列示了部分食品及餐饮企业的上半年度营业收入和上半年末连锁营业门店数量情况：
公司持有 100%股权的上海锦江国际食品餐饮管理有限公司于 2016 年上半年度实现营业收入
7,344 万元，比上年同期增长 23.55%；报告期末管理团膳餐厅为 52 家，上年末为 49 家。
公司持有 100%股权的上海锦亚餐饮管理有限公司于 2016 年上半年度实现营业收入 3,357 万
元，比上年同期下降 32.50%；报告期末连锁门店总数为 35 家，其中点心小铺 5 家；上年末连锁
门店总数为 42 家，其中点心小铺 9 家。
公司持有 100%股权的上海新亚食品有限公司于 2016 年上半年度实现营业收入 205 万元，比
上年同期下降 8.07%。
公司持有 100%股权的上海锦箸餐饮管理有限公司于 2016 年上半年度实现营业收入 569 万元，
比上年同期下降 22.80%；报告期末餐厅总数为 2 家，与上年末相同。
公司持有 51%股权的上海锦江同乐餐饮管理有限公司于 2016 年上半年度实现营业收入 909 万
元，比上年同期下降 7.81%；报告期末餐厅总数为 2 家，与上年末相同。
公司持有 42.815%股权的上海吉野家快餐有限公司于 2016 年上半年度实现营业收入 1,891 万
元，比上年同期下降 12.53%；报告期末连锁餐厅总数为 9 家，与上年末相同。
公司持有 42%股权的上海肯德基有限公司于 2016 年上半年度实现营业收入 146,907 万元，比
上年同期增长 8.94%；报告期末连锁餐厅总数为 304 家，与上年末相同。
社会责任履行
公司在发展过程中，不仅将实现股东价值最大化作为企业追求的目标，同时以企业长期价值
最大化为使命，将社会责任摆在企业战略发展的重要位置，以达到企业经济效益和社会利益的共
赢。
公司以对社会负责和对人类负责的高度责任心，尤其重视将保护环境作为公司的一项重要业
务进行管理。“锦江都城”和“锦江之星”等品牌的有限服务型连锁酒店根据国家绿色饭店的标
准要求设计建造，是一种全新概念的绿色酒店。例如：在缺水型城市酒店里使用了中水系统（把
雨水收集起来经过循环系统最终用于冲洗厕所及绿化用水等），采用高效的换气装置，推广使用
保温、隔热建筑材料和能源计量监测系统等一系列举措；客房所选用材料经过公司工程部门的随
机检测，达到环保标准；同时注重安全措施，对房屋结构进行检测与加固，达到当地的国家抗震
标准，并采用先进的红外线防盗系统。公司将绿色环保理念全面融入有限服务型酒店经营与管理
中，进一步突出了“安全、健康、舒适、专业”的特点，以实现酒店的经济效益、社会效益和生
态环境的有机统一。
本公司一贯注重改善职工薪酬与福利待遇，还积极投保雇主责任险，强化对员工安全和生活
保障的力度，取得了良好的效果。
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2016 年半年度报告
(一) 主营业务分析
1、 财务报表相关科目变动分析表
单位：元 币种：人民币
科目 本期数 上年同期数 变动比例（%）
营业收入 4,368,181,085.26 2,489,329,045.96 75.48
营业成本 434,096,326.04 225,004,836.43 92.93
销售费用 2,618,711,542.75 1,343,102,815.39 94.97
管理费用 960,758,802.61 614,392,008.62 56.38
财务费用 229,518,074.47 77,192,054.76 197.33
资产减值损失 14,509,980.72 116,396.90 12,365.95
投资收益 333,004,292.47 229,954,968.09 44.81
对联营企业和合营企业的投资收益 50,550,196.85 18,393,650.93 174.82
营业外收入 73,500,212.36 26,962,379.27 172.60
非流动资产处置收益 10,884,656.02 442,917.09 2,357.49
营业外支出 13,456,304.48 2,332,297.36 476.95
非流动资产处置损失 3,907,744.46 1,578,932.46 147.49
经营活动产生的现金流量净额 762,561,844.39 372,083,696.05 104.94
投资活动产生的现金流量净额 -8,248,288,904.42 -2,361,438,836.48 不适用
筹资活动产生的现金流量净额 9,701,010,615.97 1,830,814,870.01 429.87
公司于 2016 年 2 月底完成股权交割，将铂涛集团纳入财务报表合并范围。于 2016 年 3 至 6
月份，铂涛集团营业收入 120,268 万元，归属于母公司的净利润 4,406 万元；经营活动产生的现
金净流入额 30,560 万元，投资活动产生的现金净流出额 890 万元，筹资活动产生的现金净流入额
4,392 万元。该等事项引起公司合并利润表和合并现金流量表相关项目的报告期金额与上年同期
金额相比，发生大幅变动。下述分析中，恕不再对该等事项所引起的金额变动及其原因一一赘述。
于报告期内，合并利润表部分项目和合并现金流量表项目的变动金额及其主要原因如下所述。
⑴ 营业收入
本期 4,368,181,085.26 元，上年同期 2,489,329,045.96 元，本期比上年同期增长 75.48%，
主要是公司有限服务型连锁酒店业务和食品及餐饮业务中团膳业务保持增长所致。
⑵ 财务费用
本期 229,518,074.47 元，上年同期 77,192,054.76 元，本期比上年同期增长 197.33%，主要
是报告期内收购铂涛集团 81.0034%股权向银行融入借款所致。
⑶ 投资收益
本期 333,004,292.47 元，上年同期 229,954,968.09 元，本期比上年同期增长 44.81%，主要
是公司于报告期取得可供出售金融资产项下出售税前收益和持有期间现金股利收入同比增加；上
18
2016 年半年度报告
海肯德基因营业收入比上年同期增长，报告期内公司取得的投资收益比上年同期增加等共同影响
所致。
⑷ 对联营企业和合营企业投资收益
本期 50,550,196.85 元，上年同期 18,393,650.93 元，本期比上年同期增长 174.82%。主要
是上海肯德基因营业收入比上年同期增长，报告期内公司取得的投资收益比上年同期增加等所致。
⑸ 营业外收入
本期 73,500,212.36 元，上年同期 26,962,379.27 元，本期比上年同期增长 172.60%。主要
是公司本部收到政府补助同比增加和卢浮集团预计的诉讼赔偿款转回等所致。
⑹ 经营活动产生现金流量净额
本期 762,561,844.39 元，上年同期 372,083,696.05 元，增长 104.94%，主要是公司收到政
府补助收入和银行存款利息收入同比增加，以及预交第一季度企业所得税同比增加等共同影响所
致。
⑺ 投资活动产生现金流量净额
本期-8,248,288,904.42 元，上年同期-2,361,438,836.48 元，净流出增加 5,886,850,067.94
元，主要是本期支付受让铂涛集团 81.0034%股权价款所致。
⑻ 筹资活动产生现金流量净额
本期 9,701,010,615.97 元，上年同期 1,830,814,870.01 元，增长 429.87%，主要是本期偿
还债务同比减少，分配股利和支付利息同比增加等共同影响所致。
2、 其他
(1) 公司利润构成或利润来源发生重大变动的详细说明
如前所述，本公司主要从事有限服务型酒店营运及管理、食品及餐饮两大业务。同时，公司
持有一定数额的可供出售金融资产（包括但不限于长江证券股票）。公司的利润来源主要由这三
个方面收益构成。报告期内利润变动主要受三个因素的影响：一是酒店业务净利润同比减少 1,008
万元，该等因素主要是受法国等地恐怖袭击事件影响，中国大陆境外酒店业务利润同比减少 2,049
万元；二是公司取得的上海肯德基、杭州肯德基、苏州肯德基和无锡肯德基投资收益同比增加
4,606 万元；三是公司取得出售长江证券股票所得税前收益同比增加 4,614 万元。
(2) 公司前期各类融资、重大资产重组事项实施进度分析说明
详见本章“募集资金使用情况”
(3) 经营计划进展说明
公司本年度拟订的经营计划：全年预计营业收入 643,800 万元。报告期实际完成该等收入
436,818 万元，完成年度计划的 67.85 万元%。主要是公司完成收购铂涛集团 81.0034%股权并将其
纳入财务报表合并范围。
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2016 年半年度报告
(二) 行业、产品或地区经营情况分析
1、 主营业务分行业、分产品情况
单位：元 币种：人民币
主营业务分行业情况
营业收入 营业成本 毛利率
毛利率
分行业 营业收入 营业成本 比上年 比上年 比上年
（%）
增减（%） 增减（%） 增减（%）
有限服务
型酒店营 减少 1.80
4,247,058,545.83 374,071,062.44 91.19 79.63 125.91
运及管理 个百分点
业务
食品及 减少 1.99
121,007,908.32 60,014,967.58 50.40 -3.04 1.00
餐饮业务 个百分点
减少 8.98
其他业务 114,631.11 10,296.02 91.02 -12.62 不适用
个百分点
减少 0.90
合计 4,368,181,085.26 434,096,326.04 90.06 75.48 92.93
个百分点
2、 主营业务分地区情况
于报告期内，公司新增铂涛集团 2016 年 3 至 6 月份营业收入，该等营业收入被划分至中国大
陆境内地区。与上年同期相比，公司新增卢浮集团 2016 年 1 至 2 月份营业收入，该等营业收入被
划分至中国大陆境外地区。下表列示了公司营业收入分地区情况：
单位：元 币种：人民币
地区 营业收入 营业收入比上年增减（%）
中国大陆境内 2,650,509,160.94 86.34
其中：上海地区 712,170,913.85 14.34
上海以外地区 1,938,338,247.09 142.42
中国大陆境外 1,717,671,924.32 60.99
营业收入合计 4,368,181,085.26 75.48
注：中国大陆境外包括中国香港特别行政区、中国澳门特别行政区、台湾地区，以及法国、波兰、
英国、荷兰、德国、西班牙、意大利、葡萄牙等国家（或地区）。
（三）资产、负债情况分析
于 2016 年 1 至 6 月份，合并资产负债表项目变动的情况及其主要原因如下：
单位：元 币种：人民币
变动
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
金额 %
货币资金 7,464,223,069.79 4,741,841,642.55 2,722,381,427.24 57.41
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2016 年半年度报告
应收账款 603,034,300.17 437,288,801.40 165,745,498.77 37.90
预付款项 279,318,561.14 61,504,108.88 217,814,452.26 354.15
应收利息 45,714,158.69 34,953,185.30 10,760,973.39 30.79
应收股利 68,274,708.57 10,121,932.50 58,152,776.07 574.52
其他应收款 865,942,120.49 158,878,996.18 707,063,124.31 445.03
存货 72,027,061.88 50,705,754.23 21,321,307.65 42.05
其他流动资产 226,974,468.67 162,367,618.94 64,606,849.73 39.79
无形资产 6,567,100,242.85 2,455,945,267.19 4,111,154,975.66 167.40
商誉 10,169,998,341.56 4,216,472,381.60 5,953,525,959.96 141.20
长期待摊费用 2,594,587,721.48 1,499,352,322.69 1,095,235,398.79 73.05
短期借款 12,477,409,189.73 5,209,091,457.30 7,268,317,732.43 139.53
应付账款 1,584,854,569.97 938,139,369.55 646,715,200.42 68.94
预收款项 525,509,384.05 194,397,097.20 331,112,286.85 170.33
应付职工薪酬 452,263,357.33 330,702,963.14 121,560,394.19 36.76
应付利息 42,373,562.03 20,116,572.30 22,256,989.73 110.64
其他应付款 836,064,260.37 347,977,468.02 488,086,792.35 140.26
一年内到期的
2,873,595,035.92 21,093,804.60 2,852,501,231.32 13,522.93
非流动负债
预计负债 21,847,270.48 58,341,294.70 -36,494,024.22 -62.55
递延所得税负债 2,397,695,649.58 1,471,362,640.99 926,333,008.59 62.96
其他非流动负债 146,219,356.34 79,356,841.02 66,862,515.32 84.26
少数股东权益 1,240,103,544.17 190,706,260.51 1,049,397,283.66 550.27
公司于 2016 年 2 月底完成股权交割起，将铂涛集团纳入财务报表合并范围。于 2016 年 6 月
30 日，铂涛集团合并财务报表所列示资产总额 75 亿元，归属于母公司所有者的权益 34 亿元。该
等事项引起公司资产负债表相关项目报告期末余额与上年末余额相比，发生大幅变动。下述分析
中，恕不再对该等事项所引起的金额变动及其原因一一赘述。
于报告期末，合并资产负债表部分项目的变动金额及其主要原因如下：
⑴ 货币资金
期末 7,464,223,069.79 元，期初 4,741,841,642.55 元，增长 57.41%。主要是公司本部融入
借款增加所致。
⑵ 应收账款
期末 603,034,300.17 元，期初 437,288,801.40 元，增长 37.90%。主要是锦江之星、旅馆投
资公司应收客账增加所致。
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2016 年半年度报告
⑶ 应收利息
期末 45,714,158.69 元，期初 34,953,185.30 元，增长 30.79%。主要是公司本部银行存款本
金比上期末增加所致。
⑷ 应收股利
期末 68,274,708.57 元，期初 10,121,932.50 元，增长 574.52%。主要是本期末应收杭州肯
德基、无锡肯德基、苏州肯德基和上海肯德基 2015 年度股利所致。
⑸ 其他应收款
期末 865,942,120.49 元，期初 158,878,996.18 元，增长 445.03%。主要是应收预计需调整
的铂涛集团股权收购款等所致。
⑹ 其他流动资产
期末 226,974,468.67 元，期初 162,367,618.94 元，增长 39.79%。主要是公司预交第一季度
企业所得税所致。
⑺ 短期借款
期末 12,477,409,189.73 元，期初 5,209,091,457.30 元，增长 139.53%。主要是公司本部向
银行融入人民币借款增加所致。
⑻ 应付利息
期末 42,373,562.03 元，期初 20,116,572.30 元，增长 110.64%。主要是本期末银行借款本
金比上期末增加所致。
⑼ 一年内到期的非流动负债
期末 2,873,595,035.92 元，期初 21,093,804.60 元，增长 13,522.93%。主要是为收购卢浮
集团股权向银团融入的长期借款 30%部分将于 2017 年 5 月到期所致。
(四) 核心竞争力分析
公司经过二十余年的努力，已经形成并正在提升自己的核心竞争力。公司将经过若干年的努
力，进一步增强在“管理、品牌、网络、人才”方面的优势，确立并巩固公司在有限服务型酒店
等相关行业的市场领先地位。
报告期内，公司在做强做优做大和提高自身核心竞争力方面，作出了以下一些主要举措，并
取得了相应的成果：
继公司于 2015 年 2 月底完成对卢浮集团全部股权的收购后，公司在报告期内又完成了对铂涛
集团 81.0034%股权的购买和交割工作。与上年末（或上年度）相比，公司资产总额、营业收入、
现金流量以及酒店家数和客房间数等继续大幅增长。
22
2016 年半年度报告
截至 2016 年 6 月 30 日，锦江都城会员总数达到 2,484.5 万人，其中银卡会员 1,831.4 万人，
金卡会员 652.8 万人；报告期内新增铂涛集团会员总数 8,793.2 万人。公司各类会员总数超过 1
亿人次。
于 2016 年 1 至 6 月份，在 2016 亚洲酒店论坛年会暨第十一届中国酒店星光奖颁奖典礼上，
锦江都城获得“中国最具发展潜力酒店集团”称号，“锦江都城”、“希尔顿欢朋”品牌获得“中
国最佳中档酒店品牌”称号，“锦江之星”品牌获得“中国最佳经济型连锁酒店”称号， “安珀”
品牌获得“中国最佳文化主题精品酒店品牌”称号，“IU”品牌获得“2015 中国最具发展潜力酒
店品牌”称号；在中国酒店业第二届金光奖评选活动中，“锦江都城”品牌获得“中国酒店业最
佳有限服务酒店品牌”称号，“锦江之星”品牌获得“中国酒店业经济型酒店领军品牌”称号；
中国饭店业年会组织委员会在第十六届中国饭店金马奖评选中授予“锦江都城”品牌“中国新锐
酒店品牌”称号，授予“锦江之星”品牌“中国最具投资价值酒店品牌” 称号，授予“喆啡”
品牌“中国最具投资价值酒店连锁品牌”称号、“中国最佳主题酒店创意品牌”称号，授予“IU”
品牌“中国酒店‘互联网+’标杆品牌”称号；迈点网授予“锦江都城”、“麗枫”品牌“2015
年度有限服务中档酒店十大影响力品牌”称号，授予“锦江之星”、“7 天”品牌“2015 年度经
济型酒店十大影响力品牌”称号；中国连锁经营协会授予锦江都城品牌“2015 年度中国优秀特许
品牌”称号；“锦江之星”品牌登榜“第六届 BrandZ最具价值中国品牌 100 强”并成功入选品
牌价值增长最快的十大品牌。
(五) 投资状况分析
1、 新增对外股权投资总体分析
于报告期内，公司新增对外股权投资总额 822,662 万元，比上年同期增加 756,521 万元，增
长 1,143.80%。
(1) 1 月，本公司全资子公司卢浮集团出资 20,500,000 欧元，折合人民币 145,451,600 元，
受让 Nordic Hotel AG Kiel GmbH、Nordic Hotels Düsseldorf GmbH、Nordic Hotels München GmbH、
Nordic Hotels Hamburg GmbH、Nordic Hotels Berlin GmbH、Nordic Hotels Dnischer Hof Betriebs
GmbH、Nordic Hotel Bielefeld GmbH、DOMICIL Hotel Betriebs GmbH 和 Nordic Hotels Lübeck
GmbH 9 家公司 100%的股权。截至 2016 年 6 月 30 日，卢浮集团持有上述公司 100%的股权。
(2) 2 月，本公司出资 8,081,170,000 元人民币，支付受让铂涛集团 81.0034%股权款。截至
2016 年 6 月 30 日，本公司持有铂涛集团 81.0034%股权。该等股权购买价格存在调整可能。
23
2016 年半年度报告
2、 其他上市公司和非上市公司金融企业股权情况
(1) 证券投资情况
√适用 □不适用
占期末证
序 证券 证券 持有数量 期末账面价值 报告期损益
证券代码 最初投资金额（元） 券总投资
号 品种 简称 （股） （元） （元）
比例（%）
申万
1 股票 000166 10,000,000.00 11,088,566 93,254,840.06 9.78 1,663,284.90
宏源
长江
2 股票 000783 125,998,024.26 73,500,000 852,599,999.99 89.42 233,026,728.39
证券
全聚
3 股票 002186 56,408.72 95,608 1,872,960.72 0.20 21,033.76
德
交通
4 股票 601328 1,540,945.00 1,013,771 5,707,530.73 0.60 0.00
银行
合计 137,595,377.98 / 953,435,331.50 100% 234,711,047.05
注：1、“报告期损益”指本公司于报告期内所获得的持有期间现金股利收入和出售部分股票的所
得税前收益。
2、于 2015 年 12 月 31 日，本公司持有长江证券 9,600 万股，占长江证券总股本的 2.02%。
于 2016 年 3 月 21 日至 3 月 22 日，公司通过深圳证券交易所系统出售长江证券股份 2,000 万股，
扣除成本和相关交易税费后取得所得税前投资收益 18,348.2 万元；于 2016 年 6 月 22 日，公司通
过深圳证券交易所系统出售长江证券股份 250 万股，扣除成本和相关交易税费后取得所得税前投
资收益 2,294.5 万元。截至 2016 年 6 月 30 日，本公司持有长江证券股份 7,350 万股，占长江证
券总股本的 1.55%。
(2) 持有其他上市公司股权情况
□适用 √不适用
(3) 持有金融企业股权情况
□适用 √不适用
3、 非金融类公司委托理财及衍生品投资的情况
(1) 委托理财情况
□适用 √不适用
24
2016 年半年度报告
(2) 委托贷款情况
√适用 □不适用
委托贷款项目情况
截至 2016 年 6 月 30 日，委托贷款情况如下：
单位:万元 币种:人民币
抵押 资金来源
年贷款 是否
借款方 委托贷 贷款 借款 物或 是否 是否 是否 并说明是 关联
委托方 利率 关联 预期收益
名称 款金额 期限 用途 担保 逾期 展期 涉诉 否为募集 关系
(%) 交易
人 资金
资金 全资
锦江股份 锦亚餐饮 450 12 个月 3.393 无 否 否 否 否 否 15.3
周转 子公司
资金 全资
锦江股份 锦亚餐饮 400 12 个月 3.48 无 否 否 否 否 否 13.9
周转 子公司
资金 全资
锦江股份 锦亚餐饮 500 12 个月 3.48 无 否 否 否 否 否 17.4
周转 子公司
资金 全资
锦江股份 锦亚餐饮 300 12 个月 3.48 无 否 否 否 否 否 10.4
周转 子公司
资金 全资
锦江股份 锦箸餐饮 50 12 个月 3.393 无 否 否 否 否 否 1.7
周转 子公司
资金 全资
锦江股份 新亚食品 100 12 个月 3.48 无 否 否 否 否 否 3.5
周转 子公司
资金
锦江都城 锦江股份 5,000 12 个月 3.06 无 否 否 否 否 否 母公司 153.0
周转
上海锦花旅馆 资金 控股
锦江之星 800 12 个月 1.2 无 否 否 否 否 否 9.6
投资有限公司 周转 子公司
上海新锦酒店 资金 参股
旅馆投资公司 900 24 个月 4.848 无 否 否 否 否 否 87.3
管理有限公司 周转 公司
沈阳锦富酒店
资金 控股
旅馆投资公司 投资管理有限 550 24 个月 1.2 无 否 否 否 否 否 13.25
周转 子公司
公司
25
2016 年半年度报告
呼和浩特市锦
资金
旅投资管理有 旅馆投资公司 1,070 12 个月 1.2 无 否 否 否 否 否 母公司 12.8
周转
限公司
七天四季酒店
铂涛酒店品牌 24 个月 资金
（广州）有限 3,885 10-12 有 否 否 否 否 否 加盟商 917.2
加盟商 以内 周转
公司
七天四季酒店
铂涛酒店品牌 24 个月 资金
（广州）有限 227 10 有 否 否 否 否 否 加盟商 57.6
加盟商 -36 个月 周转
公司
七天四季酒店
铂涛酒店品牌 24 个月 资金
（广州）有限 158 12 有 否 否 是 否 否 加盟商 33.9
加盟商 以内 周转
公司
注：七天四季酒店（广州）有限公司是 Keystone Lodging Holdings Limited 全资子公司，向加盟商提供委托贷款，是为满足公司酒店业务发展需要。
公司于 2016 年 2 月底将铂涛集团纳入公司财务报表合并范围。
26
2016 年半年度报告
(3) 其他投资理财及衍生品投资情况
√适用 □不适用
本公司全资子公司卢浮集团与 HOTELS - Htels du pont de Suresnes 签订为期 12 年的融资
租赁协议，应付融资租赁款按浮动利率计息。为降低该项融资租赁款的现金流量风险敞口，卢浮
集团对该融资租赁款(期末折合人民币 12,200 万元)购入利率互换合同，将浮动利率转换为固定利
率。本财务报告期末，该现金流量套期工具公允价值折合人民币万元 773 万元。
4、 募集资金使用情况
(1) 募集资金总体使用情况
√适用 □不适用
单位：万元 币种：人民币
本报告期 尚未使用
已累计使用 尚未使用
募集 募集资金 已使用 募集资金
募集方式 募集资金 募集资金
年份 总额 募集资金 用途及
总额 总额
总额 去向
2014 非公开发行 303,525.72 7,688.22 124,802.78 181,287.14 专户存储
合计 / 303,525.72 7,688.22 124,802.78 181,287.14 /
本公司 2016 年上半年使用募集资金 7,688.22 万元，用于“锦江
之星”门店的拓展；截至 2016 年 6 月 30 日，公司累计使用募集
募集资金总体使用情况说明
资金 124,802.78 万元，尚未使用的募集资金余额为 181,287.14
万元（含存款利息收入）。
(2) 募集资金承诺项目情况
√适用 □不适用
单位：万元 币种：人民币
是 是
是 否 产 否 未达
变更原
否 符 预 生 符 到计
募集资金 募集资金 因及募
承诺项目 变 募集资金拟 合 项目 计 收 合 划进
本报告期 累计实际 集资金
名称 更 投入金额 计 进度 收 益 预 度和
投入金额 投入金额 变更程
项 划 益 情 计 收益
序说明
目 进 况 收 说明
度 益
补充未来
三年业务 不 不 不 不 不
规模及门 否 203,525.72 7,688.22 24,802.78 是 12.19 适 适 适 适 适
店发展所 用 用 用 用 用
需资金
偿还短期 不 不 不 不 不
银行借款 否 100,000.00 0 100,000.00 是 100 适 适 适 适 适
用 用 用 用 用
合计 / 303,525.72 / / / / / /
募集资金承诺项目使用情况
说明
27
2016 年半年度报告
(3) 募集资金变更项目情况
□适用 √不适用
5、 主要子公司、参股公司分析
单位：万元 币种：人民币
2016 年 2016 年
2016 年
2016 年 6 月 30 日 2016 年 1 至 6 月份
6 月30 日
公司名称 主营业务 6 月30 日 归属于 1 至 6 月份 归属于
持股比例
注册资本 母公司的 营业收入 母公司的
（注 5）
净资产 净利润
一、 有限服务型连锁酒店业务
（主要部分）：
有限服务商
1、上海锦江都城酒店管理有限公司 务酒店的投 100% 5,000 8,042 6,014 2,652
资、经营管理
有限服务型
2、锦江之星旅馆有限公司 酒店的租赁 100% 17,971 64,883 70,973 8,493
经营、管理
旅馆业的投
3、上海锦江国际旅馆投资有限公司 100% 152,500 193,279 36,898 -2,605
资
有限服务型
其中子公司：山西金广快捷酒店管
酒店的租赁 100% 6,833 13,495 3,116 215
理有限公司（注 1）
经营、管理
有限服务型
4、时尚之旅酒店管理有限公司 酒店住宿、餐 100% 60,000 59,879 11,221 669
饮管理
5、上海锦卢投资管理有限公司 投资管理 100% 35,000 60,219 171,273 5,638
其中子公司：卢浮集团（注 2） 经营酒店及 26,204 14,599 23,588 1,445
100%
（Groupe du Louvre） 餐饮 万欧元 万欧元 万欧元 万欧元
6、Keystone Lodging Holdings 经营酒店及
Limited（注 3） 81.0034% 1 万美元 339,250 120,268 4,406
餐饮
经营酒店及
7、上海锦江达华宾馆有限公司 100% 3,170 -788 835 -84
餐饮
经营酒店及
8、上海闵行饭店有限公司 100% 769 505 1,458 74
餐饮
二、食品及餐饮业务（主要部分）：
餐饮业开发
1、上海锦江国际餐饮投资管理有限
管理、国内 100% 14,993 -2,074 12,347 -1,495
公司
贸易
其中子公司：⑴上海锦江国际食品
餐饮管理有限公司 餐饮业务 100% 1,000 1,485 7,344 391
（注 4）
⑵上海锦亚餐饮管理
中西餐饮 100% 6,867 -3,174 3,357 -832
有限公司（注 4）
28
2016 年半年度报告
⑶上海新亚食品有限 生产月饼及
100% 1,142 -344 205 -312
公司（注 4） 冷冻食品
⑷上海锦箸餐饮管理
餐饮业务 100% 1,000 -1,235 569 -307
有限公司（注 4）
⑸上海锦江同乐餐饮
中西餐饮 51% 1,890 17 909 -138
管理有限公司（注 4）
联营公司：⑴上海吉野家快餐有限 1,230
日式快餐 42.815% 425 1,891 -69
公司（注 4） 万美元
⑵上海静安面包房有限 生产和销售 383
14.63% 195 4,877 -504
公司（注 4） 面包糕点 万美元
2,701
2、上海肯德基有限公司 西式快餐 42% 35,243 146,907 11,450
万美元
3、上海新亚富丽华餐饮股份有限公
中式餐饮 41% 3,500 6,469 12,358 702
司
2,150
4、杭州肯德基有限公司 西式快餐 8% 45,640 217,503 27,222
万美元
334.8
5、无锡肯德基有限公司 西式快餐 8% 10,318 61,709 5,263
万美元
1,000
6、苏州肯德基有限公司 西式快餐 8% 19,379 112,956 11,374
万美元
三、其他业务（主要部分）：
证券经纪、证
长江证券股份有限公司 1.55% 474,247 1,602,869 257,572 111,489
券投资咨询
注：1、山西金广快捷酒店管理有限公司系上海锦江国际旅馆投资有限公司之全资子公司。
2、注册于法国的卢浮集团的 100%股权为上海锦卢投资管理有限公司依次透过其全资子公司
上海锦江股份（香港）有限公司和卢森堡海路投资有限公司持有。
3、于 2016 年 2 月底公司完成对 Keystone Lodging Holdings Limited 81.0034%股权的交割，
表格中的营业收入、归属于母公司的净利润为 2016 年 3 月至 6 月份数据。
4、上海锦江国际食品餐饮管理有限公司的 82%股权、上海新亚食品有限公司的 95%股权、上
海锦箸餐饮管理有限公司 100%股权、上海锦亚餐饮管理有限公司 100%股权、上海锦江同乐餐饮管
理有限公司的 51%股权和上海吉野家快餐有限公司的 42.815%股权为上海锦江国际餐饮投资管理
有限公司所持有。上海静安面包房有限公司的 14.63%股权为上海锦江国际餐饮投资管理有限公司
所持有，后者对其能够施加重大影响。本公司持有上海锦江国际餐饮投资管理有限公司的 100%股
权、上海新亚食品有限公司的 5%股权、上海锦江国际食品餐饮管理有限公司的 18%股权。
5、表中期末持股比例为本公司直接或间接持有被投资单位的股权比例。
29
2016 年半年度报告
6、 非募集资金项目情况
√适用 □不适用
报告期内，公司继续加大对有限服务型酒店的建设和改造，以及锦江之星总部信息化项目的
建设和完善，合计新增投资人民币 16,602 万元，比上年同期减少 2,771 万元。具体投资情况如下：
⑴ 本公司合计支付 8,258 万元人民币，用于新亚大酒店、新城饭店、南京饭店、大方饭店、
闵行饭店、东亚饭店等的整体改造。
⑵ 本公司全资子公司旅馆投资公司合计投资 5,193 万元人民币，用于门店的建设和整体修
缮。
⑶ 本公司全资子公司锦江之星合计支付 2,167 万元人民币，用于门店的建设和整体修缮；合
计支付 391 万元人民币，用于总部信息化项目的建设。
⑷ 报告期内，本公司子公司时尚之旅合计投资 593 万元人民币，用于门店的修缮。
二、利润分配或资本公积金转增预案
(一) 报告期实施的利润分配方案的执行或调整情况
经公司 2015 年度股东大会批准的利润分配方案为：以 2015 年末总股本 804,517,740 股为基
数，向全体股东每 10 股派发 4.80 元现金红利（含税），B 股股利折算成美元支付。公司 2015 年
度股东大会决议公告刊登于 2016 年 4 月 23 日《上海证券报》和《大公报》。
公司 2015 年度分红派息实施公告刊登于 2016 年 4 月 30 日《上海证券报》和《大公报》：A
股股权登记日为 2016 年 5 月 5 日；B 股最后交易日为 2016 年 5 月 5 日，股权登记日为 2016 年 5
月 10 日；除息日为 2016 年 5 月 6 日；A 股红利发放日为 2016 年 5 月 6 日，B 股红利发放日为 2016
年 5 月 18 日。
(二) 半年度拟定的利润分配预案、公积金转增股本预案
是否分配或转增 否
三、其他披露事项
(一) 预测年初至下一报告期期末的累计净利润可能为亏损或者与上年同期相比发生大幅度变动
的警示及说明
□适用 √不适用
(二) 董事会、监事会对会计师事务所“非标准审计报告”的说明
□适用 √不适用
30
2016 年半年度报告
第五节 重要事项
一、重大诉讼、仲裁和媒体普遍质疑的事项
□适用 √不适用
二、破产重整相关事项
□适用 √不适用
三、资产交易、企业合并事项
√适用 □不适用
(一) 公司收购、出售资产和企业合并事项已在临时公告披露且后续实施无变化的
事项概述及类型 查询索引
于 2015 年 9 月 18 日，公司与 Prototal Enterprises 请详见公司于 2015 年 9 月 19 日披露的
Limited, Ever Felicitous Limited, Keystone Asia 相关董事会决议公告；于 2015 年 10 月
Holdings Limited,SCC Growth 2010-Peak Holdco,Ltd., 17 日披露的《锦江股份重大资产购买报
Sequoia Capital Global Growth Fund,L.P.,Sequoia 告书》(草案修订稿)；于 2015 年 10 月
Capital Global Growth Principals Fund, L.P., Happy 28 日披露的《2015 年第三次临时股东大
Travel Limited,Happy Boat Lodging Limited, Jaguar 会决议公告》；以及于 2016 年 2 月 27
Investment Pte Ltd., Ctrip Investment Holding Ltd., 日披露的《关于收购 Keystone81.0034%
Smartech Resources Limited, Chien Lee, Minjian Shi 股权完成交割的公告》、《上海锦江国
等 13 名交易对方签署与本次收购铂涛集团 81.0034%股 际酒店发展股份有限公司重大资产购买
权交易有关的《股份购买协议》。截至 2016 年 2 月 26 实施情况报告书》。
日，本次交易完成了各项交割工作。
于 2015 年 10 月 27 日，公司召开的 2015 年第三次临时
股东大会审议通过了关于收购铂涛集团 81.0034%股权
交易的相关议案。
于 2016 年 4 月 28 日，公司与黄德满先生签署与本次收 请详见公司于 2016 年 4 月 29 日披露的
购维也纳酒店有限公司及深圳市百岁村餐饮连锁有限公 《关于签署维也纳酒店、百岁村餐饮股
司 80%股权交易有关的《股份转让协议》。 权转让协议的公告》；于 2016 年 7 月 2
截至 2016 年 7 月 1 日，本次交易完成了各项交割工作。 日披露的《关于收购维也纳酒店、百岁
村餐饮各 80%股权完成交割的公告》。
(二) 临时公告未披露或有后续进展的情况
□适用 √不适用
31
2016 年半年度报告
四、公司股权激励情况及其影响
□适用 √不适用
五、重大关联交易
√适用 □不适用
(一) 与日常经营相关的关联交易
1、 已在临时公告披露，但有后续实施的进展或变化的事项
报告期内，公司受托经营锦江酒店集团新城饭店分公司、新亚大酒店分公司、青年会大酒店，
共计支付受托经营费用人民币 1,998.33 万元；公司租赁南华亭酒店、金沙江大酒店及白玉兰宾馆，
共计支付相关租赁费用人民币 1,314.57 万元；并向锦江酒店集团、青年会大酒店、南华亭酒店、
金沙江大酒店及白玉兰宾馆支付有关人员的劳动报酬及其社会保险费等费用共计人民币 2,701 万
元。
2、 临时公告未披露的事项
√适用 □不适用
单位：元 币种：人民币
关联 占同类 关联
关联 关联
关联交易 交易 交易 交易
关联交易方 关联关系 交易 交易 关联交易金额
内容 定价 金额的 结算
类型 价格
原则 比例(%) 方式
锦江国际、锦江
最终控股公司、 有限服务
酒店集团及其下 提供 市场
母公司及其控股 型酒店管 906,631.46 0.14 现金
属酒店服务类企 劳务 价格
子公司 理费收入
业
锦江国际、锦江
最终控股公司、 有限服务
酒店集团及其下 提供 市场
母公司及其控股 型酒店订 193,123.91 0.76 现金
属酒店服务类企 劳务 价格
子公司 房渠道费
业
锦江国际、锦江
最终控股公司、
酒店集团及其下 提供 市场
母公司及其控股 积分收入 37,173.74 1.09 现金
属酒店服务类企 劳务 价格
子公司
业
锦江国际、锦江 有限服务
最终控股公司、
酒店集团及其下 销售 型酒店销 市场
母公司及其控股 181,288.14 0.73 现金
属酒店服务类企 商品 售酒店物 价格
子公司
业 品
锦江国际、锦江
最终控股公司、
酒店集团及其下 销售 市场
母公司及其控股 销售食品 1,089,386.34 15.89 现金
属酒店服务类企 商品 价格
子公司
业
锦江国际、锦江 最终控股公司、
酒店集团及其下 母公司及其控股 销售 采购酒店 市场
357,599.87 0.16 现金
属酒店服务类企 子公司、联营企 商品 物品食品 价格
业 业
32
2016 年半年度报告
锦江国际及其下 最终控股公司及 接受 会员积分 市场
1,282,717.79 100.00 现金
属企业 其控股子公司 劳务 服务费用 价格
锦江国际及其下 最终控股公司及 接受 订房服务 市场
318,333.48 2.58 现金
属企业 其控股子公司 劳务 费 价格
合计 / / 4,366,254.73 0.47 /
公司为锦江酒店集团、锦江国际下属酒店服务
关联交易的必要性、持续性、选择与关联方
类企业提供有限服务型酒店管理，主要是为了
（而非市场其他交易方）进行交易的原因
扩大市场份额。
本公司与日常经营相关的关联交易协议已提
关联交易的说明 交于2016年3月29日召开的公司八届十三次董
事会审议通过。
(二) 其他重大关联交易
本公司将部分结算资金或闲置资金存入锦江国际集团财务有限责任公司（经批准的非银行金
融机构），报告期初余额为 63,374 万元人民币，报告期末余额为 113,810 万元人民币。本公司于
2016 年 4 月 22 日召开的 2015 年度股东大会审议通过了相关向财务公司存款的决议：公司 2016
年度在锦江国际集团财务有限责任公司预计存款余额最高上限不超过 12 亿元人民币。2016 年上
半年度发生相应存款利息收入 474 万元人民币。
本公司下属公司向锦江国际集团财务有限责任公司进行借款，报告期初余额为 90,000 万元人
民币，报告期末余额为 90,000 万元人民币。本公司于 2016 年 4 月 22 日召开的 2015 年度股东大
会审议通过了相关财务公司贷款的决议：公司 2015 年度在锦江国际集团财务有限责任公司预计贷
款最高上限不超过 16 亿元人民币。2016 年上半年度发生相应借款利息支出 1,835 万元人民币。
锦江国际集团财务有限责任公司章程第三章第十二条规定：“锦江国际（集团）有限公司董
事会承诺：在公司出现支付困难的紧急情况时，将督促上海锦江国际酒店（集团）股份有限公司
按照解决支付困难的实际需求，增加相应资本金。”
为进一步确保本公司在集团财务公司存款的安全性及独立性，本公司实际控制人锦江国际（集
团）有限公司又于 2009 年 12 月 22 日出具以下承诺：
“在本次重组获得批准并得以实施的前提下，将对你公司及附属企业在本次审计评估基准日
2009 年 7 月 31 日存放在锦江财务的全部款项及其他金融资产及其后存放在锦江财务的任何款项
及其他金额资产提供全额担保。如锦江财务出现无法支付你公司及附属企业存款及其他金融资产
本金及利息的情况，我公司将即时代为支付。你公司与锦江财务进行资金存储等业务应遵循自愿
原则，独立决策，我公司承诺不采取任何方式对你公司在锦江财务的资金存储等业务做统一要求，
干扰你公司的正常决策，以保证你公司的财务独立性和资金安全性。为此你公司须按照有关规定
及时披露上述存款及担保情况（包括在定期报告中定期披露和重大情况及时披露）”。
33
2016 年半年度报告
六、重大合同及其履行情况
1、 托管、承包、租赁事项
□适用 √不适用
2、 担保情况
√适用 □不适用
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 担保
方与 发生 担保是 是否
担保 是否为
担保 上市 被担 担保 日期 担保 担保 否已经 担保是 担保逾 存在 关联
起始 关联方
方 公司 保方 金额 (协议 到期日 类型 履行完 否逾期 期金额 反担 关系
日 担保
的关 签署 毕 保
系 日)
报告期内担保发生额合计（不包括对子公
司的担保）
报告期末担保余额合计（A）（不包括对子
公司的担保）
公司对子公司的担保情况
报告期内对子公司担保发生额合计 60,000
报告期末对子公司担保余额合计（B） 60,000
公司担保总额情况（包括对子公司的担保）
担保总额（A+B） 60,000
担保总额占公司净资产的比例(%) 7.56
其中：
为股东、实际控制人及其关联方提供担保
的金额（C）
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）
担保总额超过净资产50%部分的金额（E）
上述三项担保金额合计（C+D+E）
未到期担保可能承担连带清偿责任说明
八届八次董事会审议通过了关于向下属子公司提供担保的
议案：同意公司全资子公司时尚之旅向中国工商银行外滩
支行融入不超过6亿元人民币的借款，期限为1年，年利率
担保情况说明
为中国人民银行公布的一年期贷款基准利率下浮10%，本公
司对该笔借款提供保证担保。上述借款已于2016年8月15
日提前归还，公司对该笔借款提供的保证担保亦同日到期。
34
2016 年半年度报告
七、承诺事项履行情况
√适用 □不适用
(一) 上市公司、持股 5%以上的股东、控股股东及实际控制人在报告期内或持续到报告期内的承诺
事项
承诺 是否 是否
承诺 承诺 时间 有履 及时
承诺方 承诺内容
背景 类型 及 行期 严格
期限 限 履行
资产置换方案中，置入资产的租赁物业中有 30 家
“锦江之星”门店物业存在一定程度的权属瑕疵。
针对该等风险及本公司计划解决时间表，2010 年 3
月 1 日，锦江国际向本公司做出承诺：
1）如本公司未能在解决计划时间表规定的相关期
限内按照计划确定的比例和家数解决租赁经营门
店承租物业的上述权属瑕疵问题（即未能在中国证
监会核准本次重组之日起 12 个月内降低至 20%，或
未能在 24 个月内降低至 10%，或未能在 36 个月内
全部解决），本公司对于在上述三个期限时点分别
未能达到计划整改比例及整改家数的部分租赁经
营门店，采取解除租约、重新选址开业的，我公司
解 决 将承担该等解除租约重新选址开业的租赁经营门
土 地 店因解除租约可能导致发生的违约金，并按照资产
锦江 评估基准日 2009 年 7 月 31 日的具体资产评估值予
等 产 永久 否 是
国际 以补偿。
权 瑕
疵 2）在置入资产未来经营过程中，如由于“锦江之
与重大 星”租赁经营门店存在瑕疵导致相关门店不得不
资产重 重新选址开业，则自该门店停业之日起一年内，有
组相关 关物业出租方未能赔偿或未能全部赔偿该门店损
的承诺 失的，锦江国际将立即按照下述方法计算的全部损
失向该门店予以全额补偿，用于支持其搬迁开设新
店。具体损失金额按照截至审计基准日 2009 年 7
月 31 日经审计的该门店固定资产及装修投入的全
部初始投资成本，与其在资产评估基准日 2009 年 7
月 31 日的资产评估值较高者计算。锦江国际进行
上述补偿后如收回物业出租方的赔偿款归其所有。
同时，锦江国际将按照该门店停业之日前一个会计
年度经审计的净利润金额向该门店提供补偿，用于
弥补该门店停业期间的营业损失。
重组报告书披露：2009 年 12 月 22 日，锦江国际向
锦江股份承诺，在本次重组后，将对锦江股份及附
属企业在本次审计评估基准日 2009 年 7 月 31 日存
放在锦江国际财务公司的全部款项及其他金融资
锦江
其他 产，以及其后存放在锦江国际财务公司的任何款项 永久 否 是
国际
及其他金融资产提供全额担保。如锦江国际财务公
司出现无法支付锦江股份及附属企业存款本金及
利息及其他金融资产的情况，锦江国际将即时代为
支付。
35
2016 年半年度报告
2009 年 8 月 28 日，锦江酒店集团出具了《交易对
方关于避免同业竞争的承诺》，承诺锦江酒店集团
及其控制的公司（不含锦江股份及其下属公司，下
同）不会从事任何与锦江股份所从事的业务发生或
锦江 可能发生竞争的业务。如锦江酒店集团及其控制的
其他 永久 否 是
国际 公司在本次重组完成后的经营活动可能在将来与
锦江股份发生同业竞争或利益冲突，其将放弃或促
使其控制的公司放弃可能发生同业竞争或利益冲
突的业务，或将该等业务以公平、公允的市场价格，
在适当时候全部注入锦江股份。
八、聘任、解聘会计师事务所情况
□适用 √不适用
九、上市公司及其董事、监事、高级管理人员、持有 5%以上股份的股东、实际控制人、收购人
处罚及整改情况
□适用 √不适用
十、可转换公司债券情况
□适用 √不适用
十一、公司治理情况
报告期内，公司按照《公司法》、《证券法》、《上市公司治理准则》等有关法律、法规的
要求规范运作，继续完善公司法人治理结构，健全治理机制和各项规章制度，强化规范运作和信
息披露。公司治理的实际情况符合有关法律法规和中国证监会有关要求。
十二、其他重大事项的说明
(一) 董事会对会计政策、会计估计或核算方法变更的原因和影响的分析说明
□适用 √不适用
(二) 董事会对重要前期差错更正的原因及影响的分析说明
□适用 √不适用
(三) 其他
于 2016 年 7 月 8 日，公司收到中国证监会出具的《关于核准上海锦江国际酒店发展股份有限
公司非公开发行股票的批复》（证监许可[2016]1090 号）。请详见公司公告 2016-034。
本次发行股份已于 2016 年 8 月 2 日在中国证券登记结算有限责任公司上海分公司办理完成股
份登记相关手续。本次向 6 名认购对象发行的 153,418,700 股股份自发行结束之日起 36 个月内不
得转让，该部分新增股份预计可流通时间为 2019 年 8 月 5 日（如遇法定节假日或休息日，则顺延
至其后的第一个交易日）。请详见公司公告 2016-043。
36
2016 年半年度报告
第六节 股份变动及股东情况
一、 股本变动情况
(一) 股份变动情况表
1、 股份变动情况表
报告期内，公司股份总数及股本结构未发生变化。
2、 报告期后到半年报披露日期间发生股份变动对每股收益、每股净资产等财务指标的影响（如
有）
本公司于 2016 年 8 月 5 日披露《非公开发行股票发行结果暨股本变动公告》：公司向锦江酒
店集团、弘毅投资基金、国盛投资、长城资管、华安资管、上海国际资管共 6 名特定投资者非公
开发行 153,418,700 股人民币 A 股股票，发行价格为 29.45 元/股。本次发行完成后，公司总股本
由 804,517,740 股增至 957,936,440 股，因此短期内可能会导致每股收益、每股净资产等财务指
标出现一定程度的下降。但随着公司业务规模的不断扩大，充足的流动资金将有助于公司业务的
拓展，因而从长期来看将进一步提升公司持续盈利能力。
(二) 限售股份变动情况
□适用 √不适用
二、 股东情况
(一) 股东总数:
68,405 户（其中：A 股股东 42,979 户，
截止报告期末股东总数(户)
B 股股东 25,426 户）
截止报告期末表决权恢复的优先股股东总数（户）
(二) 截止报告期末前十名股东、前十名流通股东（或无限售条件股东）持股情况表
单位：股
前十名股东持股情况
持有有限售 质押或冻结情况
股东名称 报告期内 期末持股 比例 股东
条件股份 股份 数量
（全称） 增减 数量 (%) 性质
数量 状态
上海锦江国际
国有
酒店(集团)股 404,810,935 50.32 101,277,000 无
法人
份有限公司
弘毅(上海)股
境外
权投资基金中 100,000,000 12.43 100,000,000 质押 100,000,000
法人
心(有限合伙)
37
2016 年半年度报告
INVESCO FUNDS 境外
-9,426,400 11,599,621 1.44 未知
SICAV 法人
汇添富移动互
联股票型证券 6,708,999 6,708,999 0.83 无 其他
投资基金
INVESCO
PERPETUAL HONG 境外
-172,000 4,682,708 0.58 未知
KONG & CHINA 法人
FUND
SCHRODER
境外
INTERNATIONAL -689,818 4,207,797 0.52 未知
法人
SELECTION FUND
银丰证券投资
-500,000 3,500,000 0.44 无 其他
基金
香港中央结算
有限公司(沪股 628,399 3,235,006 0.40 无 未知
通)
境外
NORGES BANK 371,292 3,159,013 0.39 未知
法人
SCBHK A/C BBH
S/A VANGUARD 境外
EMERGING -90,200 3,087,508 0.38 未知
MARKETS STOCK 法人
INDEX FUND
前十名无限售条件股东持股情况
股份种类及数量
股东名称 持有无限售条件流通股的数量
种类 数量
上海锦江国际酒店(集团)股份
303,533,935 人民币普通股
有限公司
INVESCO FUNDS SICAV 11,599,621 境内上市外资股
汇添富移动互联股票型证券投
6,708,999 人民币普通股
资基金
INVESCO PERPETUAL HONG KONG &
4,682,708 境内上市外资股
CHINA FUND
SCHRODER INTERNATIONAL
4,207,797 境内上市外资股
SELECTION FUND
银丰证券投资基金 3,500,000 人民币普通股
香港中央结算有限公司(沪股
3,235,006 人民币普通股
通)
NORGES BANK 3,159,013 境内上市外资股
SCBHK A/C BBH S/A VANGUARD
EMERGING MARKETS STOCK INDEX 3,087,508 境内上市外资股
FUND
全国社保基金四一五组合 2,520,878 境内上市外资股
INVESCO FUNDS SICAV 与 INVESCO PERPETUAL HONG KONG & CHINA FUND
上述股东关联关系或一致行动 同属于景顺投资管理有限公司（INVESCO）。除此之外，公司未知其
的说明 他股东之间是否存在关联关系或属于《上市公司股东持股变动信息披
露管理办法》规定的一致行动人。
38
2016 年半年度报告
前十名有限售条件股东持股数量及限售条件
单位：股
有限售条件股份可上市交易情况
序 持有的有限售 新增可
有限售条件股东名称 限售条件
号 条件股份数量 可上市交易时间 上市交易
股份数量
1 上海锦江国际酒店(集 自发行结束之日起
101,277,000 2017 年 12 月 6 日
团)股份有限公司 36 个月不得转让
2 弘毅（上海）股权投资 自发行结束之日起
100,000,000 2017 年 12 月 6 日
基金中心（有限合伙） 36 个月不得转让
上述股东关联关系或一致
行动的说明
(三) 战略投资者或一般法人因配售新股成为前 10 名股东
√适用 □不适用
战略投资者或一般法人的名称 约定持股起始日期 约定持股终止日期
弘毅投资基金 2014 年 12 月 3 日 2017 年 12 月 5 日
战略投资者或一般法人参与配
售新股约定持股期限的说明
三、 控股股东或实际控制人变更情况
□适用 √不适用
39
2016 年半年度报告
第七节 优先股相关情况
□适用 √不适用
40
2016 年半年度报告
第八节 董事、监事、高级管理人员情况
一、持股变动情况
(一) 现任及报告期内离任董事、监事和高级管理人员持股变动情况
□适用 √不适用
(二) 董事、监事、高级管理人员报告期内被授予的股权激励情况
□适用 √不适用
二、公司董事、监事、高级管理人员变动情况
√适用 □不适用
姓名 担任的职务 变动情形 变动原因
陈君瑾 监事 离任 到龄退休
刘晨健 监事 选举 增补
刘晨健 监事 离任 工作变动
何一迟 监事 选举 增补
卢正刚 首席执行官、财务负责人 离任 工作变动
俞 萌 副总裁 离任 工作变动
张晓强 首席执行官 聘任 增补
沈 莉 首席财务官、财务负责人 聘任 增补
朱 虔 首席投资官、董事会秘书长 聘任 增补
杨少锋 副总裁 聘任 增补
胡 暋 副总裁、董事会秘书 聘任 增补
夏 民 副总裁 聘任 增补
李予恺 副总裁 聘任 增补
侯乐蕊 副总裁 聘任 增补
41
2016 年半年度报告
第九节 公司债券相关情况
□适用 √不适用
42
2016 年半年度报告
第十节 财务报告
本公司按中国会计准则编制 2016 年半年度财务报表，经德勤华永会计师事务所（特殊普通合
伙）审阅，并出具了德师报(阅)字(16)第 R0043 号标准无保留意见的审阅报告。
一、审阅报告（附后）
二、财务报表（附后）
三、财务报表附注（附后）
43
2016 年半年度报告
第十一节 备查文件目录
载有法定代表人、主管会计工作负责人、会计机构负责人签名并盖章的
会计报表
备查文件目录
报告期内在《上海证券报》、《大公报》上披露过的所有公司文件的正
本及公告的原件
董事长：俞敏亮
上海锦江国际酒店发展股份有限公司
董事会批准报送日期：2016 年 8 月 26 日
44
审阅报告
德师报(阅)字(16)第 R0043 号
上海锦江国际酒店发展股份有限公司全体股东：
我们审阅了后附的上海锦江国际酒店发展股份有限公司(以下简称“贵公司”)的财务报表，包括 2016 年 6
月 30 日的公司及合并资产负债表、2016 年 1 月 1 日至 2016 年 6 月 30 日止期间的公司及合并利润表、公司及
合并股东权益变动表和公司及合并现金流量表以及财务报表附注。这些财务报表的编制是贵公司管理层的责
任，我们的责任是在实施审阅工作的基础上对这些财务报表出具审阅报告。
我们按照《中国注册会计师审阅准则第 2101 号——财务报表审阅》的规定执行了审阅业务。该准则要求
我们计划和实施审阅工作，以对财务报表是否不存在重大错报获取有限保证。审阅主要限于询问公司有关人
员和对财务数据实施分析程序，提供的保证程度低于审计。我们没有实施审计，因而不发表审计意见。
根据我们的审阅，我们没有注意到任何事项使我们相信财务报表没有按照企业会计准则的规定编制，未
能在所有重大方面公允反映被审阅单位的财务状况、经营成果和现金流量。
德勤华永会计师事务所(特殊普通合伙) 中国注册会计师
中国上海
唐恋炯
陈 彦
2016 年 8 月 26 日
45
上海锦江国际酒店发展股份有限公司
2016 年 6 月 30 日
合并资产负债表
人民币元
2016 年 2015 年 2016 年 2015 年
项目 附注 6 月 30 日 12 月 31 日 项目 附注 6 月 30 日 12 月 31 日
流动资产： 流动负债：
货币资金 (五)1 7,464,223,069.79 4,741,841,642.55 短期借款 (五)19 12,477,409,189.73 5,209,091,457.30
衍生金融资产 - - 衍生金融负债 7,731,861.50 6,360,052.14
应收票据 - - 应付票据 - -
应收账款 (五)2 603,034,300.17 437,288,801.40 应付账款 (五)20 1,584,854,569.97 938,139,369.55
预付款项 (五)3 279,318,561.14 61,504,108.88 预收款项 (五)21 525,509,384.05 194,397,097.20
应收利息 (五)4 45,714,158.69 34,953,185.30 应付职工薪酬 (五)22 452,263,357.33 330,702,963.14
应收股利 (五)5 68,274,708.57 10,121,932.50 应交税费 (五)23 280,695,283.48 247,237,712.08
其他应收款 (五)6 865,942,120.49 158,878,996.18 应付利息 (五)24 42,373,562.03 20,116,572.30
存货 (五)7 72,027,061.88 50,705,754.23 应付股利 (五)25 450,274.74 589,147.76
一年内到期的非流动资产 1,724,154.35 1,640,003.54 其他应付款 (五)26 836,064,260.37 347,977,468.02
其他流动资产 (五)8 226,974,468.67 162,367,618.94 一年内到期的非流动负债 (五)27 2,873,595,035.92 21,093,804.60
流动资产合计 9,627,232,603.75 5,659,302,043.52 其他流动负债 - -
流动负债合计 19,080,946,779.12 7,315,705,644.09
非流动资产：
可供出售金融资产 (五)9 1,412,724,281.07 1,351,198,601.21 非流动负债：
持有至到期投资 - - 长期借款 (五)28 11,735,318,710.19 9,313,179,348.27
长期应收款 - - 应付债券 - -
长期股权投资 (五)10 299,846,750.56 244,109,853.54 长期应付款 (五)29 153,001,519.50 152,063,990.30
投资性房地产 - - 长期应付职工薪酬 (五)30 175,505,537.38 161,863,492.93
固定资产 (五)11 6,766,531,196.90 6,554,629,777.68 预计负债 (五)31 21,847,270.48 58,341,294.70
在建工程 (五)12 696,102,198.57 674,948,908.96 递延所得税负债 (五)16 2,397,695,649.58 1,471,362,640.99
工程物资 - - 其他非流动负债 (五)32 146,219,356.34 79,356,841.02
固定资产清理 - - 非流动负债合计 14,629,588,043.47 11,236,167,608.21
无形资产 (五)13 6,567,100,242.85 2,455,945,267.19 负债合计 33,710,534,822.59 18,551,873,252.30
开发支出 - - 股东权益：
商誉 (五)14 10,169,998,341.56 4,216,472,381.60 股本 (五)33 804,517,740.00 804,517,740.00
长期待摊费用 (五)15 2,594,587,721.48 1,499,352,322.69 资本公积 (五)34 4,482,097,548.95 4,482,097,548.95
递延所得税资产 (五)16 501,252,304.79 400,396,575.10 减：库存股 - -
其他非流动资产 (五)17 4,266,932,374.41 3,970,022,782.27 其他综合收益 (五)35 663,353,976.58 908,472,146.16
非流动资产合计 33,275,075,412.19 21,367,076,470.24 盈余公积 (五)36 579,263,664.10 579,263,664.10
未分配利润 (五)37 1,422,436,719.55 1,509,447,901.74
归属于母公司所有者权益
合计 7,951,669,649.18 8,283,799,000.95
少数股东权益 1,240,103,544.17 190,706,260.51
股东权益合计 9,191,773,193.35 8,474,505,261.46
资产总计 42,902,308,015.94 27,026,378,513.76 负债和股东权益总计 42,902,308,015.94 27,026,378,513.76
附注为财务报表的组成部分
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
46
上海锦江国际酒店发展股份有限公司
2016 年 6 月 30 日
公司资产负债表
人民币元
2016 年 2015 年 2016 年 2015 年
项目 附注 6 月 30 日 12 月 31 日 项目 附注 6 月 30 日 12 月 31 日
流动资产： 流动负债：
货币资金 (十四)1 4,544,536,324.66 3,234,076,648.62 短期借款 (十四)18 10,050,000,000.00 4,647,000,000.00
衍生金融资产 - - 衍生金融负债 - -
应收票据 - - 应付票据 - -
应收账款 (十四)2 8,725,317.23 6,271,530.27 应付账款 63,376,476.02 85,609,143.69
预付款项 624,445.48 715,393.47 预收款项 7,339,517.32 7,822,189.93
应收利息 (十四)3 44,683,622.54 33,887,553.31 应付职工薪酬 (十四)19 24,787,913.77 23,545,397.50
应收股利 (十四)4 237,634,116.07 9,507,026.99 应交税费 (十四)20 8,046,453.45 80,710,053.11
其他应收款 (十四)5 630,125,211.97 146,676,032.96 应付利息 24,944,256.50 6,026,655.22
存货 (十四)6 2,162,017.72 4,049,155.14 应付股利 429,303.93 395,560.41
一年内到期的非流动
资产 (十四)7 - 200,000,000.00 其他应付款 (十四)21 223,786,745.63 189,575,140.85
一年内到期的非流动
其他流动资产 (十四)8 33,630,967.55 10,016,467.45 负债 - -
流动资产合计 5,502,122,023.22 3,645,199,808.21 其他流动负债 - -
流动负债合计 10,402,710,666.62 5,040,684,140.71
非流动资产：
可供出售金融资产 980,834,694.27 1,347,205,573.86 非流动负债：
持有至到期投资 - - 长期借款 4,920,000,000.00 -
长期应收款 (十四)9 10,328,000.00 10,328,000.00 应付债券 - -
长期股权投资 (十四)10 12,237,766,310.24 4,138,655,010.27 长期应付款 - -
投资性房地产 - - 长期应付职工薪酬 - -
固定资产 (十四)11 65,536,198.93 49,894,424.76 预计负债 - -
在建工程 (十四)12 153,562,533.85 191,044,483.24 递延所得税负债 (十四)16 203,452,655.88 289,089,179.26
工程物资 - - 其他非流动负债 (十四)22 5,500,000.00 5,500,000.00
固定资产清理 - - 非流动负债合计 5,128,952,655.88 294,589,179.26
无形资产 (十四)13 55,915,982.83 57,079,608.40 负债合计 15,531,663,322.50 5,335,273,319.97
开发支出 - - 股东权益：
长期待摊费用 (十四)14 74,750,033.28 5,940,435.43 股本 804,517,740.00 804,517,740.00
递延所得税资产 - - 资本公积 4,871,182,047.73 4,871,182,047.73
其他非流动资产 (十四)15 4,141,602,634.32 3,875,299,789.44 减：库存股 - -
非流动资产合计 17,720,296,387.72 9,675,447,325.40 其他综合收益 (十四)23 640,608,498.22 893,238,567.71
盈余公积 579,263,664.10 579,263,664.10
未分配利润 795,183,138.39 837,171,794.10
股东权益合计 7,690,755,088.44 7,985,373,813.64
资产总计 23,222,418,410.94 13,320,647,133.61 负债和股东权益总计 23,222,418,410.94 13,320,647,133.61
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
47
上海锦江国际酒店发展股份有限公司
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
合并利润表
人民币元
2016 年 1 月 1 日 2015 年 1 月 1 日
至 2016 年 6 月 30 日 至 2015 年 6 月 30 日
项目 附注 止期间 止期间
一、营业收入 (五)38 4,368,181,085.26 2,489,329,045.96
减：营业成本 (五)38、39 434,096,326.04 225,004,836.43
营业税金及附加 (五)40 83,397,356.63 73,015,974.11
销售费用 (五)39 2,618,711,542.75 1,343,102,815.39
管理费用 (五)39 960,758,802.61 614,392,008.62
财务费用 (五)41 229,518,074.47 77,192,054.76
资产减值损失 (五)42 14,509,980.72 116,396.90
加：公允价值变动收益 - -
投资收益 (五)43 333,004,292.47 229,954,968.09
其中：对联营企业和合营企业的投资收益 50,550,196.85 18,393,650.93
二、营业利润 360,193,294.51 386,459,927.84
加：营业外收入 (五)44 73,500,212.36 26,962,379.27
其中：非流动资产处置收益 10,884,656.02 442,917.09
减：营业外支出 (五)45 13,456,304.48 2,332,297.36
其中：非流动资产处置损失 3,907,744.46 1,578,932.46
三、利润总额 420,237,202.39 411,090,009.75
减：所得税费用 (五)46 116,845,075.66 116,020,043.71
四、净利润 303,392,126.73 295,069,966.04
归属于母公司所有者的净利润 299,157,333.01 291,508,994.19
少数股东损益 4,234,793.72 3,560,971.85
五、其他综合收益(损失)的税后净额 (五)35 (234,190,988.17) (365,531,915.73)
归属母公司所有者的其他综合收益(损失)的税后净额 (245,118,169.58) (364,005,234.49)
(一)以后不能重分类进损益的其他综合收益(损失) (4,474,875.79) (855,139.98)
1.重新计量设定受益计划净负债或净资产的变动 (4,474,875.79) (855,139.98)
(二)以后将重分类进损益的其他综合收益(损失) (240,643,293.79) (363,150,094.51)
1.可供出售金融资产公允价值变动损益 (230,222,566.06) (371,089,926.18)
2.现金流量套期损益的有效部分 (728,428.74) 1,377,344.00
3.外币财务报表折算差额 (9,692,298.99) 6,562,487.67
归属于少数股东的其他综合收益(损失)的税后净额 10,927,181.41 (1,526,681.24)
六、综合收益(损失)总额 69,201,138.56 (70,461,949.69)
归属于母公司所有者的综合收益(损失)总额 54,039,163.43 (72,496,240.30)
归属于少数股东的综合收益总额 15,161,975.13 2,034,290.61
七、每股收益：
(一)基本每股收益 (五)51 0.3718 0.3623
(二)稀释每股收益 (五)51 不适用 不适用
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
48
上海锦江国际酒店发展股份有限公司
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
公司利润表
人民币元
2016 年 1 月 1 日 2015 年 1 月 1 日
至 2016 年 6 月 30 日 至 2015 年 6 月 30 日
项目 附注 止期间 止期间
一、营业收入 (十四)24 78,902,643.33 92,268,671.22
减：营业成本 (十四)24、25 10,554,868.66 13,362,751.42
营业税金及附加 2,901,985.28 4,742,959.88
销售费用 (十四)25 72,421,729.19 65,799,867.43
管理费用 (十四)25 60,769,283.40 87,383,009.92
财务费用 (十四)26 114,160,413.79 19,276,643.17
资产减值损失 21,186.48 -
加：公允价值变动收益 - -
投资收益 (十四)27 525,958,103.44 437,269,489.95
其中：对联营企业和合营企业的投资收益 48,821,164.65 16,737,821.83
二、营业利润 344,031,279.97 338,972,929.35
加：营业外收入 (十四)28 11,377,345.89 5,594,103.08
减：营业外支出 33,395.70 281,491.26
其中：非流动资产处置损失 10,468.29 3,491.26
三、利润总额 355,375,230.16 344,285,541.17
减：所得税费用 11,195,370.67 18,668,560.98
四、净利润 344,179,859.49 325,616,980.19
五、其他综合收益(损失)的税后净额 (252,630,069.49) (371,089,926.18)
以后将重分类进损益的其他综合收益(损失) (252,630,069.49) (371,089,926.18)
1.可供出售金融资产公允价值变动损益 (252,630,069.49) (371,089,926.18)
六、综合收益(损失)总额 91,549,790.00 (45,472,945.99)
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
49
上海锦江国际酒店发展股份有限公司
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
合并现金流量表
人民币元
2016 年 1 月 1 日 2015 年 1 月 1 日
至 2016 年 6 月 30 日 至 2015 年 6 月 30 日
项目 附注 止期间 止期间
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 4,444,711,993.77 2,426,135,604.35
收到的税费返还 15,952,197.30 -
收到其他与经营活动有关的现金 (五)47(1) 96,244,768.07 57,282,161.29
经营活动现金流入小计 4,556,908,959.14 2,483,417,765.64
购买商品、接受劳务支付的现金 976,031,888.76 561,239,643.80
支付给职工以及为职工支付的现金 1,321,410,478.32 756,711,286.70
支付的各项税费 382,644,522.72 257,638,248.96
支付其他与经营活动有关的现金 (五)47(2) 1,114,260,224.95 535,744,890.13
经营活动现金流出小计 3,794,347,114.75 2,111,334,069.59
经营活动产生的现金流量净额 (五)48(1) 762,561,844.39 372,083,696.05
二、投资活动产生的现金流量：
收回投资收到的现金 251,317,907.13 362,105,100.45
取得投资收益收到的现金 49,191,240.93 37,837,670.49
处置固定资产、无形资产和其他长期资产收回的现金净额 8,790,907.52 833,667.27
处置子公司及其他营业单位收到的现金净额 (五)47(3) - 527,063,409.16
收到其他与投资活动有关的现金 - 17,142,936.10
投资活动现金流入小计 309,300,055.58 944,982,783.47
购买子公司和其他经营单位支付的现金净额 (五)47(4) 6,940,397,644.67 2,956,867,734.47
购建固定资产、无形资产和其他长期资产支付的现金 423,369,006.41 276,602,701.46
投资所支付的现金 4,375,457.62 98,879.25
支付其他与投资活动有关的现金 (五)47(5) 1,189,446,851.30 72,852,304.77
投资活动现金流出小计 8,557,588,960.00 3,306,421,619.95
投资活动产生的现金流量净额 (8,248,288,904.42) (2,361,438,836.48)
三、筹资活动产生的现金流量：
吸收投资收到的现金 22,538,570.00 -
其中：子公司吸收少数股东投资收到的现金 22,538,570.00 -
取得借款收到的现金 (五)47(6) 16,920,000,000.00 24,811,718,832.86
收到其他与筹资活动有关的现金 (五)47(7) 65,181,237.12 37,917,044.02
筹资活动现金流入小计 17,007,719,807.12 24,849,635,876.88
偿还债务支付的现金 (五)47(8) 6,612,341,287.62 18,060,261,032.85
分配股利、利润或偿付利息支付的现金 688,872,882.55 165,374,494.21
其中：子公司支付给少数股东的股利、利润 236,043.43 10,480,767.45
支付其他与筹资活动有关的现金 (五)47(9) 5,495,020.98 4,793,185,479.81
筹资活动现金流出小计 7,306,709,191.15 23,018,821,006.87
筹资活动产生的现金流量净额 9,701,010,615.97 1,830,814,870.01
四、汇率变动对现金及现金等价物的影响 30,054,183.36 76,178,817.34
五、现金及现金等价物净增加额 2,245,337,739.30 (82,361,453.08)
加：期初现金及现金等价物余额 (五)48(3) 3,797,129,642.55 3,551,614,901.31
六、期末现金及现金等价物余额 (五)48(3) 6,042,467,381.85 3,469,253,448.23
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
50
上海锦江国际酒店发展股份有限公司
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
公司现金流量表
人民币元
2016 年 1 月 1 日 2015 年 1 月 1 日
至 2016 年 6 月 30 日 至 2015 年 6 月 30 日
项目 附注 止期间 止期间
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 78,532,682.78 90,542,387.54
收到其他与经营活动有关的现金 30,175,044.28 21,317,368.76
经营活动现金流入小计 108,707,727.06 111,859,756.30
购买商品、接受劳务支付的现金 22,539,400.84 27,915,712.56
支付给职工以及为职工支付的现金 47,407,849.12 41,958,201.79
支付的各项税费 110,898,102.57 80,626,618.86
支付其他与经营活动有关的现金 20,151,714.15 37,748,862.46
经营活动现金流出小计 200,997,066.68 188,249,395.67
经营活动产生的现金流量净额 (十四)30(1) (92,289,339.62) (76,389,639.37)
二、投资活动产生的现金流量：
收回投资收到的现金 442,334,188.43 634,724,855.73
取得投资收益收到的现金 73,644,471.03 39,822,840.25
处置固定资产、无形资产和其他长期资产收回的现金净额 1,070.00 166,056.00
收到其他与投资活动有关的现金 - 340,000,000.00
投资活动现金流入小计 515,979,729.46 1,014,713,751.98
购买子公司和其他经营单位支付的现金净额 8,081,170,000.00 -
购建固定资产、无形资产和其他长期资产支付的现金 76,697,979.69 25,088,123.82
投资所支付的现金 13,000,000.00 654,000,000.00
支付其他与投资活动有关的现金 (十四)29(1) 1,161,757,520.10 83,791,374.46
投资活动现金流出小计 9,332,625,499.79 762,879,498.28
投资活动产生的现金流量净额 (8,816,645,770.33) 251,834,253.70
三、筹资活动产生的现金流量：
取得借款收到的现金 15,770,000,000.00 6,247,000,000.00
收到其他与筹资活动有关的现金 (十四)29(2) 19,364,837.12 35,592,676.74
筹资活动现金流入小计 15,789,364,837.12 6,282,592,676.74
偿还债务支付的现金 5,447,000,000.00 2,347,000,000.00
分配股利、利润或偿付利息支付的现金 595,326,051.13 101,859,848.19
支付其他与筹资活动有关的现金 - 4,723,560,000.00
筹资活动现金流出小计 6,042,326,051.13 7,172,419,848.19
筹资活动产生的现金流量净额 9,747,038,785.99 (889,827,171.45)
四、汇率变动对现金及现金等价物的影响 - -
五、现金及现金等价物净增加(减少)额 838,103,676.04 (714,382,557.12)
加：期初现金及现金等价物余额 (十四)30 2,289,364,648.62 2,842,897,015.27
六、期末现金及现金等价物余额 (十四)30 3,127,468,324.66 2,128,514,458.15
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
51
上海锦江国际酒店发展股份有限公司
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
合并股东权益变动表
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
归属于母公司所有者权益
项目 股本 资本公积 其他综合收益 盈余公积 未分配利润 少数股东权益 所有者权益合计
一、上期期末余额 804,517,740.00 4,482,097,548.95 908,472,146.16 579,263,664.10 1,509,447,901.74 190,706,260.51 8,474,505,261.46
加：会计政策变更 - - - - - - -
二、本期期初余额 804,517,740.00 4,482,097,548.95 908,472,146.16 579,263,664.10 1,509,447,901.74 190,706,260.51 8,474,505,261.46
三、本期增减变动金额 - - (245,118,169.58) - (87,011,182.19) 1,049,397,283.66 717,267,931.89
(一)综合收益(损失)总额 - - (245,118,169.58) - 299,157,333.01 15,161,975.13 69,201,138.56
(二)所有者投入和减少资本 - - - - - 22,538,570.00 22,538,570.00
1．股东投入的普通股 - - - - - - -
2．子公司少数股东投入资本(注) - - - - - 22,538,570.00 22,538,570.00
3．子公司少数股东撤回资本 - - - - - - -
(三)利润分配 - - - - (386,168,515.20) (236,043.43) (386,404,558.63)
1．提取盈余公积 - - - - - - -
2．对股东的分配 - - - - (386,168,515.20) (236,043.43) (386,404,558.63)
(四)所有者权益内部结转 - - - - - - -
(五)专项储备 - - - - - - -
(六)其他(附注(六)1) - - - - - 1,011,932,781.96 1,011,932,781.96
四、本期期末余额 804,517,740.00 4,482,097,548.95 663,353,976.58 579,263,664.10 1,422,436,719.55 1,240,103,544.17 9,191,773,193.35
注：本财务报告期间，本集团之子公司广州窝趣公寓管理有限公司收到少数股东投入资本人民币 22,538,570.00 元。
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
52
上海锦江国际酒店发展股份有限公司
2015 年 1 月 1 日至 2015 年 6 月 30 日止期间
合并股东权益变动表
人民币元
2015 年 1 月 1 日至 2015 年 6 月 30 日止期间
归属于母公司所有者权益
项目 股本 资本公积 其他综合收益 盈余公积 未分配利润 少数股东权益 所有者权益合计
一、上期期末余额 804,517,740.00 4,482,097,548.95 1,639,273,900.26 529,215,741.42 1,243,693,387.43 28,798,007.19 8,727,596,325.25
加：会计政策变更 - - - - - - -
二、本期期初余额 804,517,740.00 4,482,097,548.95 1,639,273,900.26 529,215,741.42 1,243,693,387.43 28,798,007.19 8,727,596,325.25
三、本期增减变动金额 - - (364,005,234.49) - (30,298,101.81) 172,471,407.69 (221,831,928.61)
(一)综合收益(损失)总额 - - (364,005,234.49) - 291,508,994.19 2,034,290.61 (70,461,949.69)
(二)所有者投入和减少资本 - - - - - 8,274,400.00 8,274,400.00
1．股东投入的普通股 - - - - - - -
2．子公司少数股东投入资本 - - - - - 8,274,400.00 8,274,400.00
3．子公司少数股东撤回资本 - - - - - - -
(三)利润分配 - - - - (321,807,096.00) (11,073,635.20) (332,880,731.20)
1．提取盈余公积 - - - - - - -
2．对股东的分配 - - - - (321,807,096.00) (11,073,635.20) (332,880,731.20)
(四)所有者权益内部结转 - - - - - - -
(五)专项储备 - - - - - - -
(六)其他 - - - - - 173,236,352.28 173,236,352.28
四、本期期末余额 804,517,740.00 4,482,097,548.95 1,275,268,665.77 529,215,741.42 1,213,395,285.62 201,269,414.88 8,505,764,396.64
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
53
上海锦江国际酒店发展股份有限公司
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
公司股东权益变动表
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间 2015 年 1 月 1 日至 2015 年 6 月 30 日止期间
项目 股本 资本公积 其他综合收益 盈余公积 未分配利润 所有者权益合计 股本 资本公积 其他综合收益 盈余公积 未分配利润 所有者权益合计
一、上期期末余额 804,517,740.00 4,871,182,047.73 893,238,567.71 579,263,664.10 837,171,794.10 7,985,373,813.64 804,517,740.00 4,871,182,047.73 1,639,273,900.26 529,215,741.42 708,547,586.02 8,552,737,015.43
加：会计政策变更 - - - - - - - - - - - -
二、本期期初余额 804,517,740.00 4,871,182,047.73 893,238,567.71 579,263,664.10 837,171,794.10 7,985,373,813.64 804,517,740.00 4,871,182,047.73 1,639,273,900.26 529,215,741.42 708,547,586.02 8,552,737,015.43
三、本期增减变动金额 - - (252,630,069.49) - (41,988,655.71) (294,618,725.20) - - (371,089,926.18) - 3,809,884.19 (367,280,041.99)
(一)综合收益(损失)总额 - - (252,630,069.49) - 344,179,859.49 91,549,790.00 - - (371,089,926.18) - 325,616,980.19 (45,472,945.99)
(二)所有者投入和减少资本 - - - - - - - - - - - -
(三)利润分配 - - - - - - - - - - - -
1．提取盈余公积 - - - - - - - - - - - -
2．对股东的分配 - - - - (386,168,515.20) (386,168,515.20) - - - - (321,807,096.00) (321,807,096.00)
(四)所有者权益内部结转 - - - - - - - - - - - -
(五)专项储备 - - - - - - - - - - - -
(六)其他 - - - - - - - - - - - -
四、本期期末余额 804,517,740.00 4,871,182,047.73 640,608,498.22 579,263,664.10 795,183,138.39 7,690,755,088.44 804,517,740.00 4,871,182,047.73 1,268,183,974.08 529,215,741.42 712,357,470.21 8,185,456,973.44
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
54
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(一) 公司基本情况
上海锦江国际酒店发展股份有限公司(“公司”或“本公司”)于 1993 年 6 月 9 日在中华人民共和国上海
市注册成立，本公司总部位于上海市。本公司及子公司(“本集团”)主要在中国大陆境内及境外从事有
限服务型酒店营运及管理业务、食品及餐饮等业务。
本公司持有企业法人营业执照，统一社会信用代码为：91310000132203715W。法定代表人为俞敏亮先生。
1993 年 6 月，本公司以定向募集方式成立，股本总额为人民币 235,641,500 元。
1994 年 12 月，本公司溢价发行 1 亿股面值每股人民币 1 元的境内上市外资股(B 股)，发行价为每股 0.35
美元，于 1994 年 12 月 15 日在上海证券交易所上市交易，股本总额增至人民币 335,641,500 元。
1996 年 9 月，本公司经中国证券监督管理委员会批准公开溢价发行 1,900 万股面值每股人民币 1 元的境
内上市人民币普通股(A 股)，发行价为每股人民币 4.90 元，与 600 万股公司内部职工股一并于 1996 年
10 月 11 日在上海证券交易所上市交易，股本总额增至人民币 354,641,500 元。
1997 年 7 月，本公司向全体股东按 10:2 的比例用资本公积金转增股本，股本总额增至人民币 425,569,800
元。
1998 年 7 月，本公司向全体股东按 10:2 的比例派送股票股利，按 10:1 的比例用资本公积转增股本，股
本总额增至人民币 553,240,740 元。
2001 年 1 月，本公司经中国证券监督管理委员会批准公开溢价增发 5,000 万股面值每股人民币 1 元的境
内上市人民币普通股(A 股)，发行价为每股人民币 10.80 元，上述新增股份于 2001 年 1 月 19 日起在上海
证券交易所分批上市。发行后总股本增至人民币 603,240,740 元。
本公司于 2006 年 1 月 23 日进行股权分置改革，由全体非流通股股东向股权分置改革方案所约定的股权
登记日(2006 年 1 月 19 日)登记在册的流通 A 股股东每 10 股支付 3.1 股股份对价。根据股权分置改革方
案，2007 年 1 月 23 日有限售条件的流通股上市 49,009,806 股，2007 年 3 月 21 日有限售条件的流通股上
市 10,065,610 股，2008 年 1 月 23 日有限售条件的流通股上市 30,162,037 股，2009 年 1 月 23 日有限售条
件的流通股上市 229,151,687 股。于 2009 年 1 月 23 日，所有原非流通股股东所持有的股份均已实现流通，
共计 318,389,140 股有限售条件的流通股上市。
于 2014 年 10 月 29 日，中国证券监督管理委员会以中国证监会证监许可[2014]1129 号《关于核准上海锦
江国际酒店发展股份有限公司非公开发行股票的批复》核准了本公司非公开发行股票事项。据此，本公
司向弘毅(上海)股权投资基金中心(有限合伙) (“弘毅投资基金”)和上海锦江国际酒店(集团)股份有限公
司(“锦江酒店集团”)非公开发行合计 201,277,000 股人民币普通股(A 股)，面值为每股人民币 1 元，发
行价格为每股人民币 15.08 元，募集资金总额为人民币 3,035,257,160 元，扣除发行费用人民币 7,001,277
元，募集资金净额为人民币 3,028,255,883 元，其中，计入股本人民币 201,277,000 元，计入资本公积人
民币 2,826,978,883 元。本次非公开发行后股本总额增至人民币 804,517,740 元。
于 2015 年 2 月 16 日，公司之全资子公司卢森堡海路投资有限公司(“海路投资”)与 Star SDL Investment Co S.
à r.l. (“Star SDL”)签署股权购买协议，收购交易对方全资子公司 Groupe du Louvre (“GDL”)全部股权。于
2015 年 2 月 27 日，双方完成了股权交割。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(一) 公司基本情况 - 续
于 2015 年 9 月 18 日，公司与 Keystone Lodging Holdings Limited(“Keystone”)原股东签署股份购买协议，
收购 Keystone 81.0034%股权。于 2016 年 2 月 26 日，股权交割完成，公司正式成为 Keystone 的控股股
东。本次收购情况详见附注(六)1。
于 2016 年 6 月 30 日，公司股份总数为 804,517,740 股。锦江酒店集团持有公司 404,810,935 股股份，占
总股本 50.32%，为公司控股股东。锦江国际(集团)有限公司(“锦江国际”)为锦江酒店集团的控股股东
及公司的最终控股股东。
本公司的公司及合并财务报表已经本公司董事会于 2016 年 8 月 26 日批准报出。
(二) 财务报表的编制基础
编制基础
本集团执行财政部颁布的企业会计准则及相关规定。此外，本集团还按照《公开发行证券的公司信息披
露编报规则第 15 号—财务报告的一般规定(2014 年修订)》披露有关财务信息。
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，本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。
在历史成本计量下，资产按照购置时支付的现金或者现金等价物的金额或者所付出的对价的公允价值计
量。负债按照因承担现时义务而实际收到的款项或者资产的金额，或者承担现时义务的合同金额，或者
按照日常活动中为偿还负债预期需要支付的现金或者现金等价物的金额计量。
公允价值是市场参与者在计量日发生的有序交易中，出售一项资产所能收到或者转移一项负债所需支付
的价格。无论公允价值是可观察到的还是采用估值技术估计的，在本财务报表中计量和披露的公允价值
均在此基础上予以确定。
公允价值计量基于公允价值的输入值的可观察程度以及该等输入值对公允价值计量整体的重要性，被划
分为三个层次：
第一层次输入值是在计量日能够取得的相同资产或负债在活跃市场上未经调整的报价。
第二层次输入值是除第一层次输入值外相关资产或负债直接或间接可观察的输入值。
第三层次输入值是相关资产或负债的不可观察输入值。
(三) 重要会计政策和会计估计
1、遵循企业会计准则的声明
本公司编制的财务报表符合企业会计准则的要求，真实、完整地反映了本公司于 2016 年 6 月 30 日的公
司及合并财务状况以及 2016 年 1 月 1 日至 2016 年 6 月 30 日止期间的公司及合并经营成果和公司及合并
现金流量。
56
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
2、会计期间
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。本财务报表的会计期间为 2016 年 1
月 1 日起至 2016 年 6 月 30 日止。
3、营业周期
本集团主要在中国大陆境内及境外从事有限服务型酒店营运及管理业务、食品及餐饮等业务，营业周期
通常约为12个月。
4、记账本位币
人民币为本公司及境内子公司经营所处的主要经济环境中的货币，本公司及境内子公司以人民币为记账
本位币。境外子公司根据其经营所处经济环境中的主要货币确定其记账本位币。本集团编制本财务报表
时所采用的货币为人民币。
5、同一控制下和非同一控制下企业合并的会计处理方法
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。
5.1 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。
在企业合并中取得的资产和负债，按合并日其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。
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。
5.2 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。
合并成本指购买方为取得被购买方的控制权而付出的资产、发生或承担的负债和发行的权益性工具的公
允价值。通过多次交易分步实现非同一控制下的企业合并的，合并成本为购买日支付的对价与购买日之
前已经持有的被购买方的股权在购买日的公允价值之和。购买方为企业合并发生的审计、法律服务、评
估咨询等中介费用以及其他相关管理费用，于发生时计入当期损益。
购买方在合并中所取得的被购买方符合确认条件的可辨认资产、负债及或有负债在购买日以公允价值计
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，作为一项资产确认为商誉并按
成本进行初始计量。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。
因企业合并形成的商誉在合并财务报表中单独列报，并按照成本扣除累计减值准备后的金额计量。
57
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
6、合并财务报表的编制方法
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。控制是指投资方拥有对被投资方的权力，通过参与被
投资方的相关活动而享有可变回报，并且有能力运用对被投资方的权力影响其回报金额。一旦相关事实
和情况的变化导致上述控制定义涉及的相关要素发生了变化，本集团将进行重新评估。
子公司的合并起始于本集团获得对该子公司的控制权时，终止于本集团丧失对该子公司的控制权时。
对于本集团处置的子公司，处置日(丧失控制权的日期)前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。
对于通过非同一控制下的企业合并取得的子公司，其自购买日(取得控制权的日期)起的经营成果及现金
流量已经适当地包括在合并利润表和合并现金流量表中。
对于通过同一控制下的企业合并取得的子公司，无论该项企业合并发生在报告期的任一时点，视同该子
公司同受最终控制方控制之日起纳入本集团的合并范围，其自报告期最早期间期初起的经营成果和现金
流量已适当地包括在合并利润表和合并现金流量表中。
子公司采用的主要会计政策和会计期间按照本公司统一规定的会计政策和会计期间厘定。
本公司与子公司及子公司相互之间发生的内部交易对合并财务报表的影响于合并时抵销。
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股东权益项目下以“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，其余额仍冲
减少数股东权益。
对于购买子公司少数股权或因处置部分股权投资但没有丧失对该子公司控制权的交易，作为权益性交易
核算，调整归属于母公司所有者权益和少数股东权益的账面价值以反映其在子公司中相关权益的变化。
少数股东权益的调整额与支付/收到对价的公允价值之间的差额调整资本公积，资本公积不足冲减的，调
整留存收益。
因处置部分股权投资或其他原因丧失了对原有子公司控制权的，剩余股权按照其在丧失控制权日的公允
价值进行重新计量。处置股权取得的对价与剩余股权公允价值之和，减去按原持股比例计算应享有原子
公司自购买日开始持续计算的净资产的份额之间的差额，计入丧失控制权当期的投资收益, 同时冲减商
誉。与原有子公司股权投资相关的其他综合收益，在丧失控制权时转为当期投资收益。
7、现金及现金等价物的确定标准
现金是指库存现金以及可以随时用于支付的存款。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。
58
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
8、外币业务和外币报表折算
8.1 外币业务
外币交易在初始确认时采用交易发生日的即期汇率折算入账。
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记账本位币，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，除：(1)符合资本化条件的外币专门借款的汇
兑差额在资本化期间予以资本化计入相关资产的成本；(2)为了规避外汇风险进行套期的套期工具的汇兑
差额按套期会计方法处理；(3)可供出售货币性项目除摊余成本之外的其他账面余额变动产生的汇兑差额
计入其他综合收益外，均计入当期损益。
编制合并财务报表涉及境外经营的，如有实质上构成对境外经营净投资的外币货币性项目，因汇率变
动而产生的汇兑差额，列入股东权益“外币报表折算差额”项目；处置境外经营时，计入处置当期损益。
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，计入当期损益或确认为其他综合收益。
8.2 外币财务报表折算
为编制合并财务报表，境外经营的外币财务报表按以下方法折算为记账本位币报表：资产负债表中的所
有资产、负债类项目按资产负债表日的即期汇率折算；所有者权益项目按发生时的即期汇率折算；利润
表中的所有项目及反映利润分配发生额的项目按交易发生日即期汇率近似的汇率折算；折算后资产类项
目与负债类项目和股东权益类项目合计数的差额确认为其他综合收益并计入股东权益。
外币现金流量以及境外子公司的现金流量，采用现金流量发生日即期汇率近似的汇率折算，汇率变动对
现金及现金等价物的影响额，作为调节项目，在现金流量表中以“汇率变动对现金及现金等价物的影响”
单独列示。
年初数和上年实际数按照上年财务报表折算后的数额列示。
在处置本集团在境外经营的全部所有者权益或因处置部分股权投资或其他原因丧失了对境外经营控制权
时，将资产负债表中所有者权益项目下列示的、与该境外经营相关的归属于母公司所有者权益的外币报
表折算差额，全部转入处置当期损益。
在处置部分股权投资或其他原因导致持有境外经营权益比例降低但不丧失对境外经营控制权时，与该境
外经营处置部分相关的外币报表折算差额将归属于少数股东权益，不转入当期损益。在处置境外经营为
联营企业或合营企业的部分股权时，与该境外经营相关的外币报表折算差额，按处置该境外经营的比例
转入处置当期损益。
9、金融工具
在本集团成为金融工具合同的一方时确认一项金融资产或金融负债。金融资产和金融负债在初始确认时
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和金融负债，相关的交易费用
直接计入损益，对于其他类别的金融资产和金融负债，相关交易费用计入初始确认金额。
59
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.1 实际利率法
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。
9.2 金融资产的分类、确认和计量
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。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。
本集团持有的金融资产主要包括贷款和应收款项以及可供出售金融资产。
9.2.1 贷款和应收款项
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、应收利息、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。
9.2.2 可供出售金融资产
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
币性金融资产与摊余成本相关的汇兑差额计入当期损益外，确认为其他综合收益，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。
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，按照成本计量。
9.3 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。表明金融资产发生减值的
客观证据是指金融资产初始确认后实际发生的、对该金融资产的预计未来现金流量有影响，且能够对该
影响进行可靠计量的事项。
60
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.3 金融资产减值 - 续
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；
(7) 权益工具发行人经营所处的技术、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。
- 以摊余成本计量的金融资产减值
以摊余成本计量的金融资产发生减值时，将其账面价值减记至按照该金融资产的原实际利率折现确定的
预计未来现金流量 (不包括尚未发生的未来信用损失)现值，减记金额确认为减值损失，计入当期损益。
金融资产确认减值损失后，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，但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。
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)，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。
- 可供出售金融资产减值
对于可供出售权益工具投资，于资产负债表日，若一项权益工具投资的公允价值低于其初始投资成本超
过50%(含50%)，或低于其初始投资成本持续时间超过12个月(含12个月)，认定为公允价值发生严重或非
暂时性下跌，即发生减值。
可供出售金融资产发生减值时，将原直接计入其他综合收益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确认为其他综合收益，可
供出售债务工具的减值损失转回计入当期损益。
61
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.3 金融资产减值 - 续
- 以成本计量的金融资产减值
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发生减值时，将其账面价值减记至与按照类似金融资产当时市场收益率
对未来现金流量折现确定的现值，减记金额确认为减值损失，计入当期损益。此类金融资产的减值损失
一经确认不予转回。
9.4 金融资产的转移
本集团的金融资产转移，包括下列两种情形：
(1) 收取该金融资产现金流量的合同权利已转移；或
(2) 将金融资产转移给另一方，但保留了收取该金融资产现金流量的合同权利并承担将收取的现金流量
支付给最终收款方的义务，同时满足下列条件：
从该金融资产收到对等的现金流量时，才有义务将其支付给最终收款方。本集团发生短期垫付款，
但有权全额收回该垫付款并按照市场上同期银行贷款利率计收利息的，视同满足本条件；
根据合同约定，不能出售该金融资产或作为担保物，但可以将其作为对最终收款方支付现金流量
的保证；
有义务将收取的现金流量及时支付给最终收款方。本集团无权将该现金流量进行再投资，但按照
合同约定在相邻两次支付间隔期内将所收到的现金流量进行现金或现金等价物投资的除外。本集
团按照合同约定进行再投资的，应当将投资收益按照合同约定支付给最终收款方。
某项金融资产或某项金融资产的一部分在满足下列条件之一时，将被终止确认：
(1) 收取该金融资产现金流量的合同权利终止；或
(2) 该金融资产已转移，且在满足下列条件之一时：
本集团已转移与该金融资产所有权上几乎所有的风险和报酬；或
本集团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，也没有保留对该金融资
产控制。
若金融资产已转移且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，也没有转移对该
金融资产的控制，则本集团会根据继续涉入所转移金融资产的程度确认有关金融资产。
金融资产转移满足终止确认条件的，将所转移金融资产的账面价值及因转移而收到的对价与原计入其他
综合收益的公允价值变动累计额之和的差额计入当期损益。
9.5 金融负债的分类、确认及计量
本集团根据所发行金融工具的合同条款及其所反映的经济实质而非仅以法律形式，结合金融负债和权益
工具的定义，在初始确认时将该金融工具或其组成部分分类为金融负债或权益工具。
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。
62
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.5 金融负债的分类、确认及计量 - 续
9.5.1 以公允价值计量且其变动计入当期损益的金融负债
以公允价值计量且其变动计入当期损益的金融负债，包括交易性金融负债和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。
满足下列条件之一的金融负债划分为交易性金融负债：(1)承担该金融负债的目的，主要是为了近期内回
购；(2)初始确认时即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。
符合下列条件之一的金融负债，在初始确认时可以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：(1)该指定可以消除或明显减少由于该金融负债的计量基础不同所导致的相关利得或损失在确认和
计量方面不一致的情况；(2)本集团风险管理或投资策略的正式书面文件已载明，该金融负债所在的金融
负债组合或金融资产和金融负债组合以公允价值为基础进行管理、评价并向关键管理人员报告；(3)符合
条件的包含嵌入衍生工具的混合工具。
以公允价值计量且其变动计入当期损益的金融负债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负债相关的股利和利息支出计入当期损益。
9.5.2 其他金融负债
与在活跃市场中没有报价、公允价值不能可靠计量的权益工具挂钩并须通过交付该权益工具结算的衍生
金融负债，按照成本进行后续计量。除财务担保合同负债外的其他金融负债采用实际利率法，按摊余本
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。
9.5.3 财务担保合同
财务担保合同是指保证人和债权人约定，当债务人不履行债务时，保证人按照约定履行债务或者承担责
任的合同。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
值减直接归属的交易费用进行初始确认，在初始确认后按照《企业会计准则第13 号—或有事项》确定的
金额和初始确认金额扣除按照《企业会计准则第14 号—收入》的原则确定的累计摊销额后的余额之中的
较高者进行后续计量。
9.6 金融负债的终止确认
金融负债的现时义务全部或部分已经解除的，终止确认该金融负债或其一部分。本集团(债务人)与债权
人之间签订协议，以承担新金融负债方式替换现存金融负债，且新金融负债与现存金融负债的合同条款
实质上不同的，终止确认现存金融负债，并同时确认新金融负债。
金融负债全部或部分终止确认的，将终止确认部分的账面价值与支付的对价(包括转出的非现金资产或承
担的新金融负债)之间的差额，计入当期损益。
63
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.7 衍生工具
衍生金融工具，包括利率上限和下限工具、利率互换合同等。衍生工具于相关合同签署日以公允价值进
行初始计量，并以公允价值进行后续计量。除指定为套期工具且套期高度有效的衍生工具，其公允价值
变动形成的利得或损失将根据套期关系的性质按照套期会计的要求确定计入损益的期间外，其余衍生工
具的公允价值变动计入当期损益。
9.8 金融资产和金融负债的抵销
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，且该种法定权利是当前可执行的，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。
9.9 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。本集团发行(含再融资)、
回购、出售或注销权益工具作为权益的变动处理。本集团不确认权益工具的公允价值变动。与权益性交
易相关的交易费用从权益中扣减。
本集团对权益工具持有方的分配作为利润分配处理，发放的股票股利不影响股东权益总额。
10、应收款项
10.1 单项金额重大并单独计提坏账准备的应收款项：
本集团将单项金额大于人民币 500 万元(含人民币 500 万元)的应
单项金额重大的判断依据或金额标准
收款项认定为单项金额重大的应收款项。
本集团对单项金额重大的应收款项单独进行减值测试，单独测
试未发生减值的金融资产，包括在具有类似信用风险特征的金
单项金额重大并单项计提坏账准备的
融资产组合中进行减值测试。单项测试已确认减值损失的应收
计提方法
款项，不再包括在具有类似信用风险特征的应收款项组合中进
行减值测试。
10.2 按信用风险特征组合计提坏账准备的应收款项：
按信用风险特征组合计提坏账准备的计提方法
中国大陆境内有限服务型酒店营运及管理业务 账龄分析法
的应收账款
中国大陆境外有限服务型酒店营运及管理业务 账龄分析法
的应收账款
64
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
10、应收款项 - 续
10.2 按信用风险特征组合计提坏账准备的应收款项： - 续
组合中，采用账龄分析法计提坏账准备的：
中国大陆境内有限服务型酒店营运及管理业务的应收账款
账龄 应收账款坏账准备的计提比例(%)
3 个月以内 -
3 个月-6 个月 0.50
6 个月-1 年 25.00
1 年以上 100.00
中国大陆境外有限服务型酒店营运及管理业务的应收账款
账龄 应收账款坏账准备的计提比例(%)
0-120 天 -
121-150 天 20.00
151-180 天 30.00
181 天-1 年 50.00
1-2 年 70.00
2 年以上 90.00
本集团认为除上述应收账款外，其他应收款项如在单独进行减值测试后未发生减值，其减值风险极低，
不再进行进一步减值测试。
10.3 单项金额不重大但单独计提坏账准备的应收款项：
本集团对有客观证据表明单项金额虽不重大，但因
单项计提坏账准备的理由 其发生了特殊减值的应收款项以及所有的其他应收
款进行单项减值测试
单独进行减值测试，按预计未来现金流量现值低于
单项金额不重大但单项计提坏账准备的计提方法
其账面价值的差额计提坏账准备，计入当期损益。
11、存货
11.1 存货的分类
本集团的存货主要包括原材料、产成品和库存商品等。存货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。
11.2 发出存货的计价方法
存货发出时，采用成本按加权平均法或先进先出法确定发出存货的实际成本。
65
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
11、存货 - 续
11.3 存货可变现净值的确定依据
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。
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。
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。
11.4 存货的盘存制度
存货盘存制度为永续盘存制。
11.5 低值易耗品和包装物的摊销方法
包装物与低值易耗品采用一次转销法进行摊销。酒店新开业所领用的大量低值易耗品，在领用后 12 个月
内进行摊销。
12、长期股权投资
12.1 共同控制、重要影响的判断标准
控制是指投资方拥有对被投资方的权力，通过参与被投资方的相关活动而享有可变回报，并且有能力运
用对被投资方的权力影响其回报金额。共同控制是指按照相关约定对某项安排所共有的控制，并且该安
排的相关活动必须经过分享控制权的参与方一致同意后才能决策。重大影响是指对被投资方的财务和经
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。在确定能否对
被投资单位实施控制或施加重大影响时，已考虑投资方和其他方持有的被投资单位当期可转换公司债券、
当期可执行认股权证等潜在表决权因素。
12.2 初始投资成本的确定
对于同一控制下的企业合并取得的长期股权投资，在合并日按照被合并方所有者权益在最终控制方合并
财务报表中的账面价值的份额作为长期股权投资的初始投资成本。长期股权投资初始投资成本与支付的
现金、转让的非现金资产以及所承担债务账面价值之间的差额，调整资本公积；资本公积不足冲减的，
调整留存收益。以发行权益性证券作为合并对价的，在合并日按照被合并方所有者权益在最终控制方合
并财务报表中的账面价值的份额作为长期股权投资的初始投资成本，按照发行股份的面值总额作为股本，
长期股权投资初始投资成本与所发行股份面值总额之间的差额，调整资本公积；资本公积不足冲减的，
调整留存收益。
对于非同一控制下的企业合并取得的长期股权投资，在购买日按照合并成本作为长期股权投资的初始投
资成本。
合并方或购买方为企业合并发生的审计、法律服务、评估咨询等中介费用以及其他相关管理费用，于发
生时计入当期损益。
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2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
12、长期股权投资 - 续
12.2 初始投资成本的确定 - 续
除企业合并形成的长期股权投资外其他方式取得的长期股权投资，按成本进行初始计量。对于能够对被
投资单位实施重大影响或实施共同控制但不构成控制的，长期股权投资成本为按照《企业会计准则第 22
号—金融工具确认和计量》确定的原持有股权投资的公允价值加上新增投资成本之和。
12.3 后续计量及损益确认方法
12.3.1 成本法核算的长期股权投资
公司财务报表采用成本法核算对子公司的长期股权投资。子公司是指本集团能够对其实施控制的被投资
主体。
采用成本法核算的长期股权投资按初始投资成本计价。追加或收回投资调整长期股权投资的成本。当期
投资收益按照享有被投资单位宣告发放的现金股利或利润确认。
12.3.2 权益法核算的长期股权投资
本集团对联营企业和合营企业的投资采用权益法核算。联营企业是指本集团能够对其施加重大影响的被
投资单位，合营企业是指本集团仅对该安排的净资产享有权利的合营安排。
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，按照应享有或应分担的被投资单位实现的净损益和其他综合收益的份额，分别确认
投资收益和其他综合收益，同时调整长期股权投资的账面价值；按照被投资单位宣告分派的利润或现金
股利计算应享有的部分，相应减少长期股权投资的账面价值；对于被投资单位除净损益、其他综合收益
和利润分配以外所有者权益的其他变动，调整长期股权投资的账面价值并计入资本公积。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，对被投资
单位的净利润进行调整后确认。被投资单位采用的会计政策及会计期间与本公司不一致的，按照本公司
的会计政策及会计期间对被投资单位的财务报表进行调整，并据以确认投资收益和其他综合收益。对于
本集团与联营企业及合营企业之间发生的交易，投出或出售的资产不构成业务的，未实现内部交易损益
按照享有的比例计算归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，属于所转让资产减值损失的，不予以抵销。
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。
12.4 长期股权投资处置
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。
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(三) 重要会计政策和会计估计 - 续
13、固定资产
13.1 确认条件
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。固定资产仅在与其有关的经济利益很可能流入本集团，且其成本能够可靠地计量时才予以确认。固
定资产按成本进行初始计量。
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。
13.2 折旧方法
除使用寿命不确定的土地不予折旧外，其他固定资产从达到预定可使用状态的次月起，采用年限平均法
在使用寿命内计提折旧。各类固定资产的折旧方法、使用寿命、预计净残值率和年折旧率如下：
类别 折旧方法 折旧年限(年) 残值率(%) 年折旧率(%)
房屋及建筑物 年限平均法 20-60 0-10 1.58-4.50
机器设备 年限平均法 3-20 0-10 4.50-30.00
运输工具 年限平均法 4-10 5-10 9.00-23.75
固定资产装修支出 年限平均法 3-10 0 10.00-33.33
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。
13.3 融资租入固定资产的认定依据、计价和折旧方法
于租赁期开始日，将租赁开始日租赁资产的公允价值与最低租赁付款额现值两者中较低者作为租入资产
的入账价值，将最低租赁付款额作为长期应付款的入账价值，其差额作为未确认融资费用。此外，在租
赁谈判和签订租赁合同过程中发生的，可归属于租赁项目的初始直接费用也计入租入资产价值。
以融资租赁方式租入的固定资产采用与自有固定资产一致的政策计提租赁资产折旧。能够合理确定租赁
期届满时取得租赁资产所有权的在租赁资产使用寿命内计提折旧，无法合理确定租赁期届满能够取得租
赁资产所有权的，在租赁期与租赁资产使用寿命两者中较短的期间内计提折旧。
13.4 其他说明
当固定资产处于处置状态或预期通过使用或处置不能产生经济利益时，终止确认该固定资产。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。
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。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
14、在建工程
在建工程按实际成本计量，实际成本包括在建期间发生的各项工程支出、工程达到预定可使用状态前的
资本化的借款费用以及其他相关费用等。在建工程不计提折旧。在建工程在达到预定可使用状态后结转
为固定资产。
15、借款费用
可直接归属于符合资本化条件的资产的购建或者生产的借款费用，在资产支出已经发生、借款费用已经
发生、为使资产达到预定可使用或可销售状态所必要的购建或生产活动已经开始时，开始资本化；构建
或者生产的符合资本化条件的资产达到预定可使用状态或者可销售状态时，停止资本化。如果符合资本
化条件的资产在购建或生产过程中发生非正常中断、并且中断时间连续超过 3 个月的，暂停借款费用的
资本化，直至资产的购建或生产活动重新开始。其余借款费用在发生当期确认为费用。
专门借款当期实际发生的利息费用，减去尚未动用的借款资金存入银行取得的利息收入或进行暂时性投
资取得的投资收益后的金额予以资本化；一般借款根据累计资产支出超过专门借款部分的资产支出加权
平均数乘以所占用一般借款的资本化率，确定资本化金额。资本化率根据一般借款的加权平均利率计算
确定。
16、无形资产
无形资产包括土地使用权、专利和相关权利、长期租约受益权、商标及品牌、会员权、软件等。
无形资产按成本进行初始计量。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。各类无形资产的摊销方法、使用寿
命和预计净残值如下：
类别 摊销方法 使用寿命(年) 残值率(%)
土地使用权 直线法分期平均摊销 40 0
长期租约受益权 直线法分期平均摊销 按租赁合同剩余年限 0
商标及品牌 不摊销 不确定 0
会员权 直线法分期平均摊销 20 0
专利、相关权利及软件 直线法分期平均摊销 2-10 0
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，必要时进行调整。
17、长期资产减值
本集团在每一个资产负债表日检查长期股权投资、固定资产、在建工程、使用寿命确定的无形资产及经
营租入固定资产改良支出与装修支出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。使用寿命不确定的无形资产和尚未达到可使用状态的无形资产，无论是否存在减值迹
象，每年均进行减值测试。
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。可收回金额为资产或者资产组的公允价值减去处置费用
后的净额与其预计未来现金流量的现值两者之中的较高者。
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。
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上海锦江国际酒店发展股份有限公司
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2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
17、长期资产减值 - 续
商誉至少在每年年度终了进行减值测试。对商誉进行减值测试时，结合与其相关的资产组或者资产组组
合进行。即，自购买日起将商誉的账面价值按照合理的方法分摊到能够从企业合并的协同效应中受益的
资产组或资产组组合，如包含分摊的商誉的资产组或资产组组合的可收回金额低于其账面价值的，确认
相应的减值损失。减值损失金额首先抵减分摊到该资产组或资产组组合的商誉的账面价值，再根据资产
组或资产组组合中除商誉以外的其他各项资产的账面价值所占比重，按比例抵减其他各项资产的账面价
值。
上述资产减值损失一经确认，在以后会计期间不予转回。
18、长期待摊费用
长期待摊费用为已经发生但应由本年和以后各期负担的分摊期限超过一年的各项费用。长期待摊费用在
预计受益期间中分期平均摊销。
19、职工薪酬
19.1 短期薪酬的会计处理方法
本集团在职工为其提供服务的会计期间，将实际发生的短期薪酬确认为负债，并计入当期损益或相关资
产成本。本集团发生的职工福利费，在实际发生时根据实际发生额计入当期损益或相关资产成本。职工
福利费为非货币性福利的，按照公允价值计量。
本集团为职工缴纳的医疗保险费、工伤保险费、生育保险费等社会保险费和住房公积金，以及本集团按
规定提取的工会经费和职工教育经费，在职工为本集团提供服务的会计期间，根据规定的计提基础和计
提比例计算确定相应的职工薪酬金额，确认相应负债，并计入当期损益或相关资产成本。
19.2 离职后福利的会计处理方法
离职后福利分类为设定提存计划和设定受益计划。
对于设定提存计划，本集团在职工为其提供服务的会计期间，将根据设定提存计划计算的应缴存金额确
认为负债，并计入当期损益或相关资产成本。
对于设定受益计划，本集团根据预期累计福利单位法确定的公式将设定受益计划产生的福利义务归属于
职工提供服务的期间，并计入当期损益或相关资产成本。设定受益计划产生的职工薪酬成本划分为下列
组成部分：
服务成本(包括当期服务成本、过去服务成本和结算利得和损失)；
设定受益计划净负债或净资产的利息净额(包括计划资产的利息收益、设定受益计划义务的利息费用
以及资产上限影响的利息)；以及
重新计量设定受益计划净负债或净资产所产生的变动。
服务成本及设定受益计划净负债或净资产的利息净额计入当期损益或相关资产成本。重新计量设定受益
计划净负债或净资产所产生的变动(包括精算利得或损失、计划资产回报扣除包括在设定受益计划净负债
或净资产的利息净额中的金额、资产上限影响的变动扣除包括在设定受益计划净负债或净资产的利息净
额中的金额)计入其他综合收益。
70
上海锦江国际酒店发展股份有限公司
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2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
19、职工薪酬 - 续
19.3 辞退福利的会计处理方法
本集团向职工提供辞退福利的，在下列两者孰早日确认辞退福利产生的职工薪酬负债，并计入当期损益：
本集团不能单方面撤回因解除劳动关系计划或裁减建议所提供的辞退福利时；本集团确认与涉及支付辞
退福利的重组相关的成本或费用时。
19.4 其他长期职工福利的会计处理方法
本集团其他长期职工福利按照设定受益计划的有关规定，确认和计量其他长期职工福利净负债或净资产。
在报告期末，其他长期职工福利产生的职工薪酬成本确认为服务成本、其他长期职工福利净负债或净资
产的利息净额以及重新计量其他长期职工福利净负债或净资产所产生的变动三个组成部分。这些项目的
总净额计入当期损益或相关资产成本。
20、预计负债
当与或有事项相关的义务是本集团承担的现时义务，且履行该义务很可能导致经济利益流出，以及该义
务的金额能够可靠地计量，则确认为预计负债。
在资产负债表日，考虑与或有事项有关的风险、不确定性和货币时间价值等因素，按照履行相关现时义
务所需支出的最佳估计数对预计负债进行计量。如果货币时间价值影响重大，则以预计未来现金流出折
现后的金额确定最佳估计数。
21、收入
21.1 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本集团，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。
21.2 提供劳务收入
本集团对外提供酒店客房服务的，在酒店客房服务已提供且取得收取服务费的权利时确认收入。
提供劳务同时授予客户奖励积分的业务，在提供劳务的同时，将销售取得的货款或应收货款在本次劳务
提供产生的收入与奖励积分的公允价值之间进行分配，将取得的现金或应收货款扣除奖励积分公允价值
的部分确认为收入、奖励积分的公允价值确认为递延收益。
客户兑换奖励积分时，本集团将原计入递延收益的与所兑换积分相关的部分确认为收入，确认为收入的
金额以被兑换用于换取奖励的积分数额占预期将兑换用于换取奖励的积分总数的比例为基础计算确定。
21.3 加盟费收入
根据有关合同或协议，按权责发生制确认收入。
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(三) 重要会计政策和会计估计 - 续
21、收入 - 续
21.4 中央订房系统渠道收入
根据有关合同或协议，按权责发生制确认收入。
21.5 会员卡收入
会员卡收入按照权责发生制确认收入。
21.6 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。
22、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。政府补助根据相关政府文件中明确规
定的补助对象性质划分为与资产相关的政府补助和与收益相关的政府补助。
政府补助在能够满足政府补助所附条件且能够收到时予以确认。政府补助为货币性资产的，按照收到或
应收的金额计量。
22.1 与资产相关的政府补助判断依据及会计处理方法
本集团的政府补助主要包括信息平台扶持基金、新城饭店项目扶持基金和时尚之旅项目扶持基金，由于
补贴款分别用于相关资产的投资及研发，故该等政府补助为与资产相关的政府补助。
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。
22.2 与收益相关的政府补助判断依据及会计处理方法
本集团的政府补助主要包括公司及锦江之星产业扶持和锦江都城品牌推广的财政补贴，该等政府补助为
与收益相关的政府补助。
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。
23、递延所得税资产/递延所得税负债
所得税费用包括当期所得税和递延所得税。
23.1 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。
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2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
23、递延所得税资产/递延所得税负债 - 续
23.2 递延所得税资产及递延所得税负债
对于某些资产、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。
一般情况下所有暂时性差异均确认相关的递延所得税。但对于可抵扣暂时性差异，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，确认相关的递延所得税资产。此外，与商誉的初始确
认相关的，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暂时性差异，不予确认有关的递延所得税资产或负债。
对于能够结转以后年度的可抵扣亏损及税款抵减，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。
本集团确认与子公司、联营企业及合营企业投资相关的应纳税暂时性差异产生的递延所得税负债，除非
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。对于与子
公司、联营企业及合营企业投资相关的可抵扣暂时性差异，只有当暂时性差异在可预见的未来很可能转
回，且未来很可能获得用来抵扣可抵扣暂时性差异的应纳税所得额时，本集团才确认递延所得税资产。
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。
除与直接计入其他综合收益或股东权益的交易和事项相关的当期所得税和递延所得税计入其他综合收益
或股东权益，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。
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。
23.3 所得税的抵销
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销后的净额列报。
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销后的净额列报。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
24、租赁
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为融资租赁。融资租赁以外的其他租赁为经营
租赁。
24.1 经营租赁的会计处理方法
24.1.1 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。
24.1.2 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生时计入当期损益。或有租金于实际发生时计入当期损益。
24.2 融资租赁的会计处理方法
24.2.1 本集团作为承租人记录融资租赁业务
相关会计处理方法参见附注(三)“13.3 融资租入固定资产的认定依据、计价和折旧方法”。未确认融资
费用在租赁期内采用实际利率法计算确认当期的融资费用。或有租金于实际发生时计入当期损益。最低
租赁付款额扣除未确认融资费用后的余额分别作为长期负债和一年内到期的长期负债列示。
25、套期会计
为规避某些风险，本集团把某些金融工具作为套期工具进行套期。满足规定条件的套期，本集团采用套
期会计方法进行处理。本集团的套期主要为现金流量套期。
本集团在套期开始时，记录套期工具与被套期项目之间的关系，以及风险管理目标和进行不同套期交易
的策略。此外，在套期开始及之后，本集团会持续地对套期有效性进行评价，以检查有关套期在套期关
系被指定的会计期间内是否高度有效。
被指定为现金流量套期且符合条件的的衍生工具，其公允价值的变动属于有效套期的部分计入其他综合
收益，无效套期部分计入当期损益。
如果对预期交易的套期使本集团随后确认一项金融资产或金融负债的，原计入其他综合收益的金额将在
该项资产或债务影响损益的相同期间转出，计入当期损益；如果本集团预期原直接在其他综合收益中确
认的净损失全部或部分在未来会计期间不能弥补，则将不能弥补的部分转出，计入当期损益。
如果对预期交易的套期使本集团随后确认一项非金融资产或非金融负债，则将已计入其他综合收益的利
得或损失转出，计入该项非金融资产或非金融负债的初始成本中。如果预期原直接在其他综合收益中确
认的净损失全部或部分在未来会计期间不能弥补的，则将不能弥补的部分转出，计入当期损益。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
25、套期会计 - 续
除上述情况外，原计入其他综合收益的金额在被套期预期交易影响损益的相同期间转出，计入当期损益。
当本集团撤销了对套期关系的指定、套期工具已到期或被出售、合同终止、已行使或不再符合套期会计
条件时，终止运用套期会计。套期会计终止时，已计入其他综合收益的累计利得或损失，将在预期交易
发生并计入损益时，自其他综合收益转出计入损益。如果预期交易不会发生，则将计入其他综合收益的
累计利得或损失立即转出，计入当期损益。
26、重要会计估计和判断
本集团根据历史经验和其他因素，包括对未来事项的合理预期，对所采用的重要会计估计和关键判断进
行持续的评价。
重要会计估计及其关键假设
下列重要会计估计及关键假设存在会导致下一会计年度资产和负债的账面价值出现重大调整的重要风险：
26.1 固定资产的预计使用寿命与预计净残值
本集团管理层负责评估确认固定资产的预计使用寿命与预计净残值。这项估计是将性质和功能类似的固
定资产过往的实际使用寿命与实际净残值作为基础。在固定资产使用过程中，其所处的经济环境，技术
环境以及其他环境有可能对固定资产使用寿命与预计净残值产生较大影响。如果固定资产使用寿命与净
残值的预计数与原先估计数有差异，本集团管理层将对其进行调整。
26.2 经营租入物业改良支出与装修支出的预计受益期间
本集团以租赁物业经营若干酒店，并对这些酒店进行物业改良与装修。本集团管理层根据过往经验和可
取得的信息，将经营租入物业改良支出及装修支出根据实际使用寿命、剩余经营期与剩余租赁期三者孰
短进行摊销。如果经营租入物业改良支出与装修支出的上述预计受益期间与原先估计数有差异，本集团
管理层将对其进行调整。
26.3 土地和商标及品牌的使用寿命
本集团管理层认为，在可预见的将来本集团所拥有的土地和商标及品牌均会使用并带给本集团预期的经
济利益流入，故其使用寿命是不确定的，对土地不予折旧，对商标及品牌不予摊销。但无论上述使用寿
命不确定的土地和商标及品牌是否存在减值迹象，本集团管理层每年均对其进行减值测试。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
26、重要会计估计和判断 - 续
26.4 递延所得税资产和递延所得税负债
递延所得税资产和递延所得税负债按照预期收回该资产或清偿该债务期间的适用所得税税率计量。预期
适用所得税税率是根据有关现行的税务法规及本集团的实际情况而确定。若预计所得税税率与原估计有
差异，本集团管理层将对其进行调整。
递延所得税资产的确定，以很可能取得用来抵扣税务亏损及暂时性差异的应纳税所得额为限。如果预计
未来期间无法取得足够的应纳税所得额用以利用可抵扣税务亏损及可抵扣暂时性差异带来的经济利益，
本集团管理层将减记递延所得税资产的账面价值。
由于无法确定相关可抵扣税务亏损和可抵扣暂时性差异是否很可能转回，故本集团对于部分可抵扣税务
亏损及可抵扣暂时性差异未确认为递延所得税资产。如未来实际产生的盈利多于预期，将视情况调整相
应的递延所得税资产，确认在该情况发生期间的合并利润表中。
26.5 长期股权投资、固定资产、在建工程、使用寿命确定的无形资产及经营租入固定资产改良支出与装
修支出的减值
本集团管理层根据附注(三)17 所述的会计政策，于资产负债表日评估长期股权投资、固定资产、在建工
程、使用寿命确定的无形资产及经营租入固定资产改良支出与装修支出是否出现任何减值。可收回金额
为资产预计未来现金流量的现值与公允价值减去处置费用后的净额两者中较高者，是按可以取得的最佳
信息作出估计，以反映知情自愿各方于各资产负债表日进行公平交易以处置资产而获取的款项(经扣减处
置成本)或持续使用该资产所产生的现金。该估计于每次减值测试时都可能予以调整。
26.6 应收款项减值
本集团管理层及时判断应收款项的可收回程度，以此来估计应收款项减值准备。如发生任何事件或情况
变动，显示本集团未必可追回有关余额，则会为应收款项计提准备，并需要使用估计。若预期数字与原
来估计数不同，有关差额则会影响应收款项的账面价值，以及在估计变动期间的减值费用。
26.7 商誉减值
本集团每年对商誉进行减值测试。为进行减值测试，本集团将商誉分摊至相关资产组或资产组组合。包
含商誉的资产组或资产组组合的可收回金额按照资产组或资产组组合预计未来现金流量的现值与公允价
值减去处置费用后的净额中较高者确定，其计算需要采用会计估计。
本集团计算可收回金额时，采用的关键假设及估计包括：折现率、平均每间可供出租客房收入增长率。
若实际情况与估计不同，将影响资产组或资产组组合可收回金额，从而影响商誉的减值金额。
26.8 长期应付职工薪酬
对于本集团职工退休福利计划等设定受益计划，于各年度末，管理层聘请专家进行精算。精算涉及折现
率、长期通货膨胀率、工资增长率及死亡率等主要估计，若未来现金流量的实际情况与估计数不同，有
关差额则会影响长期应付职工薪酬的账面价值。
76
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(四) 税项
主要税种及税率
税种 计税依据 税率及简易征收率
本公司及中国大陆境内子公司：
增值税 销项税额减可抵扣进项税后余额 5%或 6%或 11%或 17%
营业税 应税营业收入 5%(注 1)
城市维护建设税 流转税额 5%或 7%
教育费附加 流转税额 3%
地方教育费附加 流转税额 2%
企业所得税 应纳税所得额 15%或 25%(注 2)
房产税 房产计税原值、租金收入 1.2%或 12%
中国大陆境外子公司：
增值税 营业收入 20%或 19.6%或 10%
企业互助社会捐金 营业收入 0.16%
住房税 员工应税工资 0.45%
学徒税 员工应税工资 0.68%
继续教育税 员工应税工资 0.15%或 1.05%或 1.60%
企业所得税 应纳税所得额 注3
企业增值税(CVAE) 法国税法下企业价值增加金额 0% - 1.5%
注 1：根据财政部、国家税务总局于 2016 年 3 月 23 日联合发布的《关于全面推开营业税改征增值税试
点的通知》(财税[2016]36 号)，自 2016 年 5 月 1 日起，本公司及境内子公司均缴纳增值税。
注 2：根据西藏自治区人民政府关于调整企业所得税税率的通知(藏政发[2011]14 号)，以及国家对西部大
开发税收优惠政策，对设在西藏自治区的各类企业，在 2011 年至 2020 年期间按 15%的税率征收
企业所得税。因此，2016 年度拉萨锦江之星旅馆有限公司所得税税率为 15%。
广州赛文软件开发有限公司于 2014 年度被认定为高新技术企业，自 2015 年起的三年内执行 15%
的企业所得税税率。
本公司及其他境内子公司企业所得税税率为 25%。
注 3：中国大陆境外子公司 GDL 企业所得税基准税率为 33.33%，如果营业收入超过 7,630,000.00 欧元，
企业所得税税率上浮到 34.43%。
本集团在开曼群岛注册成立的子公司不需缴纳企业所得税；注册于香港特别行政区的子公司的所
得税税率为 16.5%；注册于德国的子公司的所得税税率为 15%；注册于新加坡的子公司的所得税税
率为 17%；注册于奥地利的子公司的所得税税率为 25%；注册于卢森堡的子公司的所得税税率为
29.22%。
77
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释
1、货币资金
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目
外币金额 折算率 人民币金额 外币金额 折算率 人民币金额
现金：
人民币 8,293,269.22 7,037,250.23
欧元 39,412.27 7.3750 290,665.49 -
银行存款(注 1)：
人民币 5,185,781,775.28 3,225,749,605.30
美元 48,022,001.58 6.6312 318,443,496.90 2,024,024.00 6.4936 13,143,202.17
欧元 101,478,642.05 7.3750 748,404,985.09 111,731,571.72 7.0952 792,757,847.64
英镑 1,493,612.71 8.9212 13,324,817.72 1,049,375.05 9.6665 10,143,794.58
雷亚尔 2,634,000.00 2.0543 5,411,072.42 3,134,000.00 1.6455 5,156,862.31
兹罗提 25,058,435.42 1.6625 41,660,496.22 31,113,722.38 1.6640 51,772,539.17
摩洛哥迪拉姆 94,000.00 0.6785 63,782.32 93,000.00 0.6584 61,231.58
印尼卢比 3,429,191,000.00 0.0005 1,732,009.53 3,429,518,000.00 0.0005 1,617,918.46
港币 3,133,815.77 0.8547 2,678,472.34 784,467.86 0.8378 657,228.38
韩元 7,271,026.74 0.0057 41,787.51 -
其他金融机构存款(注 2)：
人民币 1,138,096,439.75 633,744,162.73
合计 7,464,223,069.79 4,741,841,642.55
注 1：本集团上述银行存款中用于借款质押的定期存款为人民币 1,417,068,000.00 元(期初数﹕人民币
944,712,000.00 元)。质押借款信息参见附注(五)28。
本集团上述银行存款中由于诉讼被冻结的银行存款为人民币 4,687,687.94 元(期初数﹕人民币零元)，
详见附注(五)26。
注 2：其他金融机构存款系存于锦江国际集团财务有限责任公司(经批准的非银行金融机构，以下简称“财
务公司”)的款项。
2、应收账款
(1) 应收账款分类披露：
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类 计提 计提
比例 账面价值 比例 账面价值
金额 金额 比例 金额 金额 比例
(%) (%)
(%) (%)
单项金额重大并单项计提
- - - - - - - - - -
坏账准备的应收账款
按信用风险特征组合计提
683,194,256.61 96.83 102,529,192.24 15.01 580,665,064.37 518,092,264.71 97.03 96,675,734.93 18.66 421,416,529.78
坏账准备的应收账款
单项金额不重大但单独计
22,381,712.50 3.17 12,476.70 0.06 22,369,235.80 15,884,748.32 2.97 12,476.70 0.08 15,872,271.62
提坏账准备的应收账款
合计 705,575,969.11 100.00 102,541,668.94 14.53 603,034,300.17 533,977,013.03 100.00 96,688,211.63 18.11 437,288,801.40
(2) 按账龄分析法计提坏账准备的应收账款：
人民币元
2016 年 6 月 30 日
账龄
金额 坏账准备 计提比例(%)
3 个月以内 467,596,233.41 - -
3 至 12 个月 122,268,400.75 28,725,611.78 23.49
12 个月以上 93,329,622.45 73,803,580.46 79.08
合计 683,194,256.61 102,529,192.24 15.01
78
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
2、应收账款 - 续
(3) 本期计提、收回或转回的坏账准备情况
人民币元
2015 年 本期外币报表 2016 年
项目 本期计提额 本期转回额
12 月 31 日 折算差额 6 月 30 日
坏账准备 96,688,211.63 13,397,428.18 (11,684,476.11) 4,140,505.24 102,541,668.94
(4) 按欠款方归集的期末余额前五名的应收账款情况
占应收账款总额的比 计提坏账
单位名称 与本集团关系 金额
例(%) 准备金额
北京三快科技有限公司 第三方 29,317,610.51 4.16 8,645.33
北京趣拿软件科技有限公司 第三方 13,526,143.68 1.92 607.85
携程计算机技术(上海)有限公司 第三方 13,178,261.32 1.87 850.35
财付通支付科技有限公司 第三方 6,335,947.11 0.90 -
浙江天猫技术有限公司 第三方 6,110,096.68 0.87 -
合计 68,468,059.30 9.72 10,103.53
3、预付款项
(1) 预付款项按账龄列示：
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
账龄
金额 比例(%) 金额 比例(%)
1 年以内 279,318,561.14 100.00 61,504,108.88 100.00
合计 279,318,561.14 100.00 61,504,108.88 100.00
(2) 按预付对象归集的期末余额前五名的预付款项情况
人民币元
单位名称 与本集团关系 期末余额 未结算原因
广东富海商业发展有限公司 第三方 6,918,430.82 预付房租
姜世宏 第三方 5,358,475.16 预付房租
上海机场(集团)有限公司 第三方 4,791,381.63 预付房租
北京七天丰盛源酒店管理有限公司 第三方 3,691,899.66 预付房租
Eatonbridge Holdings Ltd. 第三方 3,315,599.87 预付咨询费
合计 24,075,787.14
4、应收利息
人民币元
单位名称 2016 年 6 月 30 日 2015 年 12 月 31 日
银行定期存款 38,001,192.84 29,502,211.83
财务公司定期存款 7,700,845.85 5,253,347.51
委托贷款 12,120.00 197,625.96
合计 45,714,158.69 34,953,185.30
79
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
5、应收股利
人民币元
相关款项
2015 年 外币报表 2016 年
项目 本期增加 本期减少 未收回的原因 是否发生
12 月 31 日 折算差额 6 月 30 日
减值
(1)长江证券股份有限公司 - 26,600,000.00 (26,600,000.00) - -
(2)上海肯德基有限公司 - 26,574,864.68 - - 26,574,864.68 尚未发放 否
(3)杭州肯德基有限公司 9,507,026.99 29,157,567.86 (12,420,939.34) - 26,243,655.51 尚未发放完毕 否
(4)苏州肯德基有限公司 - 10,780,761.00 - - 10,780,761.00 尚未发放 否
(5)无锡肯德基有限公司 - 4,691,549.98 (2,320,000.00) - 2,371,549.98 尚未发放完毕 否
(6)申万宏源证券股份有限
- 1,663,284.90 - - 1,663,284.90 尚未发放 否
公司
(7)上海新亚富丽华餐饮股
- 4,305,000.00 (4,305,000.00) - -
份有限公司
(8)GDL 之股权投资 614,905.51 - - 25,686.99 640,592.50 尚未发放完毕 否
(9)其他 - 132,033.76 (132,033.76) - -
合计 10,121,932.50 103,905,062.18 (45,777,973.10) 25,686.99 68,274,708.57
6、其他应收款
(1) 其他应收款分类披露
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类 计提 计提
比例 账面价值 比例 账面价值
金额 金额 比例 金额 金额 比例
(%) (%)
(%) (%)
单项金额重大并单项计提
548,549,899.08 60.60 5,775,000.00 1.05 542,774,899.08 58,215,718.92 31.01 - - 58,215,718.92
坏账准备的其他应收款
按信用风险特征组合计提
- - - - - - - - - -
坏账准备的其他应收款
单项金额不重大但单独计
356,618,448.66 39.40 33,451,227.25 9.38 323,167,221.41 129,520,768.45 68.99 28,857,491.19 22.28 100,663,277.26
提坏账准备的其他应收款
合计 905,168,347.74 100.00 39,226,227.25 4.33 865,942,120.49 187,736,487.37 100.00 28,857,491.19 15.37 158,878,996.18
期末单项金额重大并单独计提坏账准备的其他应收款：
人民币元
单位名称 期末余额
账面余额 坏账准备 计提比例(%) 计提理由
深圳市英迈奇机电设备有限公司(注) 5,775,000.00 5,775,000.00 100 预计无法收回
合计 5,775,000.00 5,775,000.00 100
注：深圳市英迈奇机电设备有限公司系 Keystone 的设备供应商，由于其提供的设备无法使用，Keystone
要求其退回相关款项。本财务报告期末，Keystone 根据该应收款项的可回收性全额计提了坏账准备。
(2) 本期计提、收回或转回的坏账准备情况
人民币元
2015 年 本期收购 本期外币报表 2016 年
项目 本期计提额 本期转回额
12 月 31 日 子公司增加 折算差额 6 月 30 日
坏账准备 28,857,491.19 3,046,081.34 6,807,978.23 (363,045.00) 877,721.49 39,226,227.25
80
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
6、其他应收款 - 续
(3) 按款项性质列示其他应收款
人民币元
其他应收款性质 2016 年 6 月 30 日 2015 年 12 月 31 日
预计收回股权收购款(附注(六)1) 480,656,509.90 -
押金及保证金 194,296,294.22 80,002,538.48
业务周转金 12,277,625.85 4,224,704.20
动迁补偿款(附注(五)44) 14,499,250.00 -
代垫款及其他 203,438,667.77 103,509,244.69
合计 905,168,347.74 187,736,487.37
(4) 按欠款方归集的期末余额前五名的其他应收款情况
人民币元
占其他应收
与本公司 坏账准备
单位名称 性质 期末余额 账龄 款总额的
关系 期末余额
比例(%)
预计收回股权
JP Morgan&Chase(附注(六)1) 第三方 480,656,509.90 1 年以内 53.10 -
收购款
Starwood (NC) 代垫款 第三方 25,082,375.00 1至2年 2.77 -
杭州钱江新城资产经营管理投资
保证金 第三方 15,516,524.00 1 年以内 1.71 -
有限公司(注)
Communauté d'Agglomération
动迁补偿款 第三方 14,499,250.00 1 年以内 1.60 -
Rennes Metropole (附注(五)44)
广州市百达屋信息科技有限公司 代垫款 关联方 7,020,240.18 1 年以内 0.78 -
合计 542,774,899.08 59.96 -
注： 系子公司上海锦江国际旅馆投资有限公司(“旅馆投资”)下属子公司杭州锦澈投资管理有限公司向
杭州钱江新城资产经营管理投资有限公司根据租赁合同支付的履约保证金以及装修保证金。
7、存货
(1) 存货分类
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目
账面余额 跌价准备 账面价值 账面余额 跌价准备 账面价值
原材料 29,562,296.83 18,287.87 29,544,008.96 30,787,008.17 18,303.75 30,768,704.42
产成品 551,233.35 - 551,233.35 626,307.34 - 626,307.34
库存商品 44,628,885.80 2,697,066.23 41,931,819.57 22,101,712.39 2,790,969.92 19,310,742.47
合计 74,742,415.98 2,715,354.10 72,027,061.88 53,515,027.90 2,809,273.67 50,705,754.23
(2) 存货跌价准备
人民币元
2015 年 外币报表 2016 年
存货种类 本期转回额
12 月 31 日 折算差额 6 月 30 日
原材料 18,303.75 - (15.88) 18,287.87
库存商品 2,790,969.92 (43,431.60) (50,472.09) 2,697,066.23
合计 2,809,273.67 (43,431.60) (50,487.97) 2,715,354.10
81
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
8、其他流动资产
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
预缴税金 147,838,682.60 129,931,551.97
待摊费用 52,884,702.60 32,436,066.97
委托贷款(注) 15,395,204.57 -
存放于支付宝款项 10,855,878.90 -
合计 226,974,468.67 162,367,618.94
注：系本集团下属子公司 Keystone 对加盟店发放的委托贷款，年利率为 6%至 12%。
9、可供出售金融资产
(1)可供出售金融资产情况
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目
账面余额 减值准备 账面价值 账面余额 减值准备 账面价值
可供出售权益工具
-公允价值计量 1,377,350,477.39 - 1,377,350,477.39 1,319,806,211.09 - 1,319,806,211.09
-按成本计量 38,689,212.81 3,315,409.13 35,373,803.68 34,583,306.90 3,190,916.78 31,392,390.12
合计 1,416,039,690.20 3,315,409.13 1,412,724,281.07 1,354,389,517.99 3,190,916.78 1,351,198,601.21
(2)期末按公允价值计量的可供出售金融资产
人民币元
可供出售金融资产分类 可供出售权益工具
权益工具的成本 499,317,313.61
公允价值 1,377,350,477.39
累计计入其他综合收益的公允价值变动金额 878,033,163.78
人民币元
被投资 2015 年 本期 本期 2016 年
股票代码 本期增减变动 期末股数
公司名称 12 月 31 日 企业合并增加 公允价值变动 6 月 30 日
长江证券 000783 1,192,319,999.99 - (310,189,213.06) (29,530,786.94) 852,599,999.99 73,500,000
交通银行 601328 6,528,685.24 - (821,154.51) - 5,707,530.73 1,013,771
全聚德 002186 2,198,984.00 - (326,023.28) - 1,872,960.72 95,608
申万宏源 000166 118,758,541.86 - (25,503,701.80) - 93,254,840.06 11,088,566
Ocean
Imagination 注 - 396,252,722.55 27,662,423.34 - 423,915,145.89 注
L.P.
合计 1,319,806,211.09 396,252,722.55 (309,177,669.31) (29,530,786.94) 1,377,350,477.39
注：本集团之子公司 Keystone 持有 Ocean Imagination L.P.36.62%的股权投资，并为 Ocean Imagination L.P.
的有限合伙人。本财务报告期末，Ocean Imagination L.P.持有 eLong Inc.(“艺龙”)25.70%股权，因此本
集团根据艺龙的股权公允价值将 Ocean Imagination L.P.的股权投资确认为可供出售金融资产。艺龙原为
美国纳斯达克证券市场上市公司，于 2016 年 6 月艺龙宣布完成私有化交易，本集团认为艺龙私有化收购
价格接近其股权公允价值，因此根据该私有化收购价格确定该可供出售金融资产公允价值。
82
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
9、可供出售金融资产 - 续
(3)期末按成本计量的可供出售金融资产
人民币元
账面余额 减值准备
在被投资单位
被投资单位 2015 年 外币报表 2016 年 2015 年 外币报表 2016 年 本期现金
初始投资成本 企业合并增加 本期增加 本期减少 本期增加 持股比例(%)
12 月 31 日 折算差额 6 月 30 日 12 月 31 日 折算差额 6 月 30 日 红利
杭州肯德基有限公司 12,265,725.33 12,265,725.33 - - - - 12,265,725.33 - - - - 8 29,157,567.86
苏州肯德基有限公司 5,484,594.24 5,484,594.24 - - - - 5,484,594.24 - - - - 8 10,780,761.00
无锡肯德基有限公司 3,761,343.20 3,761,343.20 - - - - 3,761,343.20 - - - - 8 4,691,549.98
长江联合发展公司 700,000.00 700,000.00 - - - - 700,000.00 - - - - <1 -
上海商务中心股份有限公司 5,187,700.00 5,187,700.00 - - - - 5,187,700.00 - - - - 3 111,000.00
上海锦江酒店物品有限公司 1,469,473.95 1,469,473.95 - - - - 1,469,473.95 - - - - 15 -
广州宛若故里信息科技有限
4,000,000.00 - 4,000,000.00 - - - 4,000,000.00 - - - - 10 -
公司
其他 6,064,470.18 5,714,470.18 350,000.00 - (462,182.02) 218,087.93 5,820,376.09 3,190,916.78 - 124,492.35 3,315,409.13 -
合计 38,933,306.90 34,583,306.90 4,350,000.00 - (462,182.02) 218,087.93 38,689,212.81 3,190,916.78 - 124,492.35 3,315,409.13 44,740,878.84
83
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
10、长期股权投资
人民币元
本期增减变动
2015 年 2016 年 减值准备
被投资单位 本期收购 其他 其他 宣告发放现金 计提 外币报表
12 月 31 日 追加投资 投资收益 6 月 30 日 期末余额
子公司增加 综合收益调整 权益变动 股利或利润 减值准备 折算差额
联营企业
上海肯德基有限公司(“上海肯德基”) 128,783,162.53 - - 45,812,247.38 - - (26,574,864.68) - - 148,020,545.23 -
上海新鹿餐饮发展有限公司(“新鹿餐饮”) 1,865,886.66 - - 129,449.49 - - - - - 1,995,336.15 -
上海新亚富丽华餐饮股份有限公司(“新亚富丽华”) 27,949,957.21 - - 2,879,467.78 - - (4,305,000.00) - - 26,524,424.99 -
上海吉野家快餐有限公司(“上海吉野家”) 2,112,632.51 - - (294,939.10) - - - - - 1,817,693.41 -
上海静安面包房有限公司(“静安面包房”) 1,024,824.13 - - (739,096.38) - - - - - 285,727.75 -
上海新锦酒店管理有限公司(“新锦酒店管理”) 1,333,796.07 - - 47,805.85 - - - - - 1,381,601.92 -
SNC Invest Hotels Dix90 9,671,239.36 - - 2,453.36 - - - - 380,785.36 10,054,478.08 -
SNC Rouen Annecy 6,501,039.55 - - - - - - - 256,354.33 6,757,393.88 -
SNC Lisieux 6,072,896.87 - - 2,989,846.88 - - - - 287,312.73 9,350,056.48 -
SNC Angers Montpellier Villeneuve Rennes Invest
8,151,084.51 - - 229,749.03 - - - - 325,049.26 8,705,882.80 -
Hotels
SNC Chaville Bx Arles 5,862,893.88 - - 272,618.99 - - - - 235,487.93 6,371,000.80 -
SNC Bayeux Bergerac Blagnac 6,157,352.15 - - 144,053.72 - - - - 244,373.90 6,545,779.77 -
SNC Fontenay Dieppe 3,713,562.36 - - 898.49 - - - - 146,971.73 3,861,432.58 -
Saclay Invest Hotel - - 3,617,986.67 (349.86) - - - - 69,139.08 3,686,775.89 -
甘孜州圣地香巴拉旅游投资有限公司(“圣地香巴拉” - 3,550,706.93 - (493,444.64) - - - - - 3,057,262.29 -
广州铭岩信息科技有限公司(“广州铭岩信息”) - 2,548,897.57 - (76,537.75) - - - - - 2,472,359.82 -
广州蛋壳网络科技有限公司(“广州蛋壳网络”) - 6,600,033.56 - (120,074.69) - - - - - 6,479,958.87 -
广州乐寄信息科技有限公司(“广州乐寄信息”) - 1,962,577.33 - (84,529.13) - - - - - 1,878,048.20 -
深圳市第五空间公寓酒店管理有限公司(“深圳第五空
- 2,819,766.69 - (188,731.55) - - - - - 2,631,035.14 -
间公寓”)
广州辐伦淄信息科技有限公司(“广州辐伦淄信息”) - 2,925,473.49 - (94,659.50) - - - - - 2,830,813.99 -
广州创变者出入境服务有限公司(“广州创变者”) - 716,824.01 750,000.00 11,684.08 - - - - - 1,478,508.09 -
广州虫洞网络科技有限公司(“广州虫洞网络”) - 4,909,435.97 - (348,384.41) - - - - - 4,561,051.56 -
广州沁游商务服务有限公司(“广州沁游商务”) - 2,001,794.97 - 19,261.35 - - - - - 2,021,056.32 -
广州小胖信息科技有限公司(“广州小胖信息”) - 494,843.86 - (17,104.49) - - - - - 477,739.37 -
其他 34,909,525.75 - - 468,511.95 - - - - 1,222,749.48 36,600,787.18 -
合计 244,109,853.54 28,530,354.38 4,367,986.67 50,550,196.85 - - (30,879,864.68) - 3,168,223.80 299,846,750.56 -
84
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
11、固定资产
(1) 固定资产情况
人民币元
项目 境外土地 房屋及建筑物 机器设备 运输工具 固定资产装修支出 合计
一、账面原值
1.2015 年 12 月 31 日 1,206,981,028.82 7,959,828,679.93 2,338,377,781.72 8,954,557.20 484,702,675.69 11,998,844,723.36
2.本期增加金额 45,418,216.76 169,938,260.28 474,248,598.63 444,923.51 19,938,144.68 709,988,143.86
(1)购置 - 9,123,210.22 42,639,837.13 444,923.51 7,732,987.67 59,940,958.53
(2)在建工程转入 8,179,397.97 25,662,820.94 69,768,895.55 - 9,619,558.07 113,230,672.53
(3)收购子公司增加 - 8,160,783.30 342,387,860.32 - - 350,548,643.62
(4)竣工结算调整 - - 179,006.04 - - 179,006.04
(5)外币报表折算差额 37,238,818.79 126,991,445.82 19,272,999.59 - 2,585,598.94 186,088,863.14
3.本期减少 (5,034,738.18) (12,976,963.60) (34,192,687.42) - (7,777,119.00) (59,981,508.20)
(1)本期处置或报废 (5,034,738.18) (9,754,315.05) (34,192,687.42) - (4,184,610.51) (53,166,351.16)
(2)竣工结算调整 - (3,222,648.55) - - (3,592,508.49) (6,815,157.04)
4.2016 年 6 月 30 日 1,247,364,507.40 8,116,789,976.61 2,778,433,692.93 9,399,480.71 496,863,701.37 12,648,851,359.02
二、累计折旧
1.2015 年 12 月 31 日 74,812,893.18 3,458,825,909.89 1,604,247,859.83 5,782,799.75 300,498,899.71 5,444,168,362.36
2.本期增加金额 1,716,061.88 220,016,858.17 233,736,124.24 357,282.36 22,090,918.47 477,917,245.12
(1)计提 101,021.97 151,834,720.09 117,168,192.90 357,282.36 21,437,592.67 290,898,809.99
(2)收购子公司增加 - 1,974,121.85 105,697,604.61 - - 107,671,726.46
(3)外币报表折算差额 1,615,039.91 66,208,016.23 10,870,326.73 - 653,325.80 79,346,708.67
3.本期减少 (537,369.53) (5,724,924.17) (29,785,683.31) - (3,764,051.67) (39,812,028.68)
(1)本期处置或报废 (537,369.53) (5,724,924.17) (29,785,683.31) - (3,764,051.67) (39,812,028.68)
4.2016 年 6 月 30 日 75,991,585.53 3,673,117,843.89 1,808,198,300.76 6,140,082.11 318,825,766.51 5,882,273,578.80
三、减值准备
1.2015 年 12 月 31 日 - - 46,583.32 - - 46,583.32
2.本期增加金额 - - - - - -
3.本期处置或报废 - - - - - -
4.2016 年 6 月 30 日 - - 46,583.32 - - 46,583.32
四、账面价值
1.2016 年 6 月 30 日 1,171,372,921.87 4,443,672,132.72 970,188,808.85 3,259,398.60 178,037,934.86 6,766,531,196.90
2.2015 年 12 月 31 日 1,132,168,135.64 4,501,002,770.04 734,083,338.57 3,171,757.45 184,203,775.98 6,554,629,777.68
(2) 通过融资租赁租入的固定资产情况
人民币元
项目 账面原值 累计折旧 账面价值
土地 114,519,000.00 66,375.00 114,452,625.00
房屋建筑物 750,482,212.50 604,277,437.58 146,204,774.92
机器设备 16,565,927.11 11,513,523.26 5,052,403.85
合计 881,567,139.61 615,857,335.84 265,709,803.77
(3) 未办妥产权证书的固定资产情况
本财务报告期末，子公司时尚之旅酒店管理有限公司(“时尚之旅”)的净值为人民币 166,212,362.96 元的
房屋建筑物产权证明尚在办理中。
(4) 固定资产抵押情况
本财务报告期末，本集团下属子公司净值为人民币 156,463,086.75 元的房屋建筑物用于长期借款抵押，
详见附注五(28)注 2。
85
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
12、在建工程
(1) 在建工程情况
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目
账面余额 减值准备 账面净值 账面余额 减值准备 账面净值
一、固定资产装修
(一)锦江都城在建工程：
“锦江都城”新亚大酒店装修工程 102,159,105.29 - 102,159,105.29 79,529,721.58 - 79,529,721.58
“锦江都城”长沙开福店装修工程 83,251,738.98 - 83,251,738.98 83,251,822.59 - 83,251,822.59
“锦江都城”杭州市火车东站酒店装修工程 80,180,558.92 - 80,180,558.92 24,904,676.16 - 24,904,676.16
“锦江之星”佛山南海桂城地铁站酒店装修工程 24,679,068.30 - 24,679,068.30 22,701,323.92 - 22,701,323.92
“锦江之星”金广临汾解放路店装修工程 22,142,017.03 - 22,142,017.03 21,200,920.65 - 21,200,920.65
“Campanile”大方饭店装修工程 21,314,137.18 - 21,314,137.18 - - -
“锦江之星”上海九亭沪松公路酒店装修工程 19,886,898.48 - 19,886,898.48 18,279,372.38 - 18,279,372.38
“锦江都城”南华亭宾馆装修工程 19,840,252.62 - 19,840,252.62 20,086,119.43 - 20,086,119.43
“锦江之星”上海真南路店装修工程 18,143,179.21 - 18,143,179.21 17,154,308.47 - 17,154,308.47
“锦江都城”沈阳三好街酒店装修工程 16,822,540.33 - 16,822,540.33 50,977.57 - 50,977.57
“锦江之星”徐州民主南路酒店装修工程 15,584,801.01 - 15,584,801.01 14,295,093.18 - 14,295,093.18
“锦江之星”上海奉贤南桥运河酒店装修工程 15,017,971.43 - 15,017,971.43 11,886,157.80 - 11,886,157.80
“锦江之星”沈阳塔湾酒店装修工程 14,576,357.10 - 14,576,357.10 6,113,949.28 - 6,113,949.28
“锦江之星”杭州滨江江陵路店装修工程 14,271,815.16 - 14,271,815.16 12,814,913.46 - 12,814,913.46
“锦江之星”克拉玛依市行政中心酒店装修工程 9,935,780.17 - 9,935,780.17 111,650.00 - 111,650.00
“锦江之星”天津台儿庄路酒店装修工程 9,403,067.92 - 9,403,067.92 - - -
“锦江之星”敦煌市妙街酒店装修工程 7,386,361.58 - 7,386,361.58 - - -
“锦江都城”南京饭店装修工程 6,435,844.60 - 6,435,844.60 - - -
“锦江之星”银川清和南街酒店装修工程 3,804,469.84 - 3,804,469.84 - - -
“锦江之星”庐山景区香山路云中酒店装修工程 10,689.20 - 10,689.20 19,631,679.25 - 19,631,679.25
“锦江都城”新城饭店装修工程 - - - 87,047,405.13 - 87,047,405.13
“锦江之星”南宁市民主路酒店装修工程 - - - 25,831,893.88 - 25,831,893.88
“锦江之星”重庆菜园坝火车站酒店装修工程 - - - 22,715,168.14 - 22,715,168.14
“锦江之星”长春一汽东风大街酒店装修工程 - - - 19,852,779.55 - 19,852,779.55
“锦江之星”伊宁火车站酒店装修工程 - - - 16,575,605.26 - 16,575,605.26
“锦江之星”嘉兴火车南站酒店装修工程 - - - 15,981,461.03 - 15,981,461.03
“锦江之星”钦州市政府酒店装修工程 - - - 13,759,287.03 - 13,759,287.03
“锦江之星”绍兴解放北路酒店装修工程 - - - 11,560,718.32 - 11,560,718.32
锦江都城其他装修工程 8,953,231.86 - 8,953,231.86 7,233,702.36 - 7,233,702.36
小计 513,799,886.21 - 513,799,886.21 572,570,706.42 - 572,570,706.42
(二)GDL 在建工程：
Louvre Htels Group 酒店装修工程 37,972,805.63 - 37,972,805.63 30,197,362.77 - 30,197,362.77
Htels dupont de Suresnes 酒店装修工程 8,427,091.98 - 8,427,091.98 7,275,682.23 - 7,275,682.23
Star Gt Holdco F 酒店装修工程 7,009,234.52 - 7,009,234.52 9,609,513.82 - 9,609,513.82
LWIH Property Holding Poland 酒店装修工程 6,775,880.99 - 6,775,880.99 6,786,315.84 - 6,786,315.84
Htel du Chateau(Fontainebleau)酒店装修工程 3,966,331.05 - 3,966,331.05 2,880,740.60 - 2,880,740.60
Golden Tulip Investments BV 酒店装修工程 2,323,125.00 - 2,323,125.00 2,234,988.00 - 2,234,988.00
Htel Grill Bordeaux Artigues 酒店装修工程 145,734.79 - 145,734.79 7,657,883.42 - 7,657,883.42
GDL 其他装修工程 70,474,429.85 - 70,474,429.85 35,176,925.99 - 35,176,925.99
小计 137,094,633.81 - 137,094,633.81 101,819,412.67 - 101,819,412.67
(三)Keystone 在建工程：
商用物业建设工程 23,930,073.61 - 23,930,073.61 - - -
H12 品质提升装修费 5,524,769.36 - 5,524,769.36 - - -
窝趣上海酒店装修工程 3,814,947.85 - 3,814,947.85 - - -
Keystone 其他装修工程 7,949,553.20 - 7,949,553.20 - - -
小计 41,219,344.02 - 41,219,344.02 - - -
二、软件
锦江之星 BI 商务智能平台项目工程及其他 2,461,565.68 - 2,461,565.68 558,789.87 - 558,789.87
Keystone 软件开发工程 1,526,768.85 - 1,526,768.85 - - -
软件合计 3,988,334.53 - 3,988,334.53 558,789.87 - 558,789.87
总计 696,102,198.57 - 696,102,198.57 674,948,908.96 - 674,948,908.96
86
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
12、在建工程 - 续
(2) 重大在建工程项目变动情况
人民币元
本期利息
2015 年 本期转入 本期转入 本期转入 本期 外币报表 2016 年 利息资本化 其中:本期利息
项目名称 收购子公司增加 本期购建 资本化率 资金来源
12 月 31 日 固定资产 无形资产 长期待摊费用 其他减少 折算差额 6 月 30 日 累计金额 资本化金额
(%)
“锦江都城”新亚大酒店装修工程 79,529,721.58 - 22,629,383.71 - - - - - 102,159,105.29 - - - 自筹资金
“锦江都城”长沙开福店装修工程 83,251,822.59 - - - - - (83.61) - 83,251,738.98 - - - 自筹资金
“锦江都城”杭州市火车东站酒店装修工程 24,904,676.16 - 55,275,882.76 - - - - - 80,180,558.92 - - - 自筹资金
“锦江之星”佛山南海桂城地铁站酒店装修工程 22,701,323.92 - 1,977,744.38 - - - - - 24,679,068.30 - - - 自筹资金
“锦江之星”金广临汾解放路店装修工程 21,200,920.65 - 941,096.38 - - - - - 22,142,017.03 - - - 自筹资金
“Campanile”大方饭店装修工程 - - 21,314,137.18 - - - - - 21,314,137.18 - - - 自筹资金
“锦江之星”上海九亭沪松公路酒店装修工程 18,279,372.38 - 1,607,526.10 - - - - - 19,886,898.48 - - - 募股资金
“锦江都城”南华亭宾馆装修工程 20,086,119.43 - - - - - (245,866.81) - 19,840,252.62 - - - 自筹资金
“锦江之星”上海真南路店装修工程 17,154,308.47 - 988,870.74 - - - - - 18,143,179.21 - - - 自筹资金
“锦江都城”沈阳三好街酒店装修工程 50,977.57 - 16,771,562.76 - - - - - 16,822,540.33 - - - 募股资金
“锦江之星”徐州民主南路酒店装修工程 14,295,093.18 - 1,289,707.83 - - - - - 15,584,801.01 - - - 募股资金
“锦江之星”上海奉贤南桥运河酒店装修工程 11,886,157.80 - 3,131,813.63 - - - - - 15,017,971.43 - - - 募股资金
“锦江之星”沈阳塔湾酒店装修工程 6,113,949.28 - 8,462,407.82 - - - - - 14,576,357.10 - - - 自筹资金
“锦江之星”杭州滨江江陵路店装修工程 12,814,913.46 - 1,456,901.70 - - - - - 14,271,815.16 - - - 自筹资金
“锦江之星”克拉玛依市行政中心酒店装修工程 111,650.00 - 9,824,130.17 - - - - - 9,935,780.17 - - - 募股资金
“锦江之星”天津台儿庄路酒店装修工程 - - 9,403,067.92 - - - - - 9,403,067.92 - - - 募股资金
“锦江之星”敦煌市妙街酒店装修工程 - - 7,386,361.58 - - - - - 7,386,361.58 - - - 募股资金
“锦江都城”南京饭店装修工程 - - 6,435,844.60 - - - - - 6,435,844.60 - - - 自筹资金
“锦江之星”银川清和南街酒店装修工程 - - 3,804,469.84 - - - - - 3,804,469.84 - - - 募股资金
“锦江之星”庐山景区香山路云中酒店装修工程 19,631,679.25 - 6,043,907.51 (3,756,051.32) - (21,908,846.24) - - 10,689.20 - - - 自筹资金
“锦江都城”新城饭店装修工程 87,047,405.13 - - (15,590,803.79) (9,670.00) (66,885,674.73) (4,561,256.61) - - - - - 自筹资金
“锦江之星”南宁市民主路酒店装修工程 25,831,893.88 - 961,913.84 (4,954,826.50) - (21,838,981.22) - - - - - - 募股资金
“锦江之星”重庆菜园坝火车站酒店装修工程 22,715,168.14 - - (4,674,749.23) - (17,206,603.84) (833,815.07) - - - - - 募股资金
“锦江之星”长春一汽东风大街酒店装修工程 19,852,779.55 - 153,118.70 (3,263,357.84) - (16,742,540.41) - - - - - - 募股资金
“锦江之星”伊宁火车站酒店装修工程 16,575,605.26 - 2,388.13 (3,276,807.64) - (13,287,371.49) (13,814.26) - - - - - 募股资金
“锦江之星”嘉兴火车南站酒店装修工程 15,981,461.03 - - (2,973,371.28) - (12,213,040.99) (795,048.76) - - - - - 募股资金
“锦江之星”钦州市政府酒店装修工程 13,759,287.03 - - (2,691,654.30) - (10,889,535.29) (178,097.44) - - - - - 募股资金
“锦江之星”绍兴解放北路酒店装修工程 11,560,718.32 - 1,472,810.72 (2,389,562.66) - (10,643,966.38) - - - - - - 募股资金
Louvre Htels Group 酒店装修工程 30,197,362.77 - 18,357,012.19 (6,612,001.72) (4,823,390.55) - (438,885.10) 1,292,708.04 37,972,805.63 - - - 自筹资金
Htels dupont de Suresnes 酒店装修工程 7,275,682.23 - 1,211,528.65 (360,410.96) - - - 300,292.06 8,427,091.98 - - - 自筹资金
Star Gt Holdco F 酒店装修工程 9,609,513.82 - 6,522,127.31 (9,455,266.62) - - - 332,860.01 7,009,234.52 - - - 自筹资金
LWIH Property Holding Poland 酒店装修工程 6,786,315.84 - 21,016.84 (18,849.18) - - (6,715.08) (5,887.43) 6,775,880.99 - - - 自筹资金
Htel du Chateau(Fontainebleau)酒店装修工程 2,880,740.60 - 956,950.32 - - - - 128,640.13 3,966,331.05 - - - 自筹资金
Golden Tulip Investments BV 酒店装修工程 2,234,988.00 - - - - - - 88,137.00 2,323,125.00 - - - 自筹资金
Htel Grill Bordeaux Artigues 酒店装修工程 7,657,883.42 - 143,480.10 (7,836,724.22) - - - 181,095.49 145,734.79 - - - 自筹资金
小计 631,979,490.74 - 208,547,163.41 (67,854,437.26) (4,833,060.55) (191,616,560.59) (7,073,582.74) 2,317,845.30 571,466,858.31
87
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
12、 在建工程 - 续
(2)重大在建工程项目变动情况 - 续
人民币元
本期利息
2015 年 本期转入 本期转入 本期转入 本期 外币报表 2016 年 利息资本化 其中:本期利息
项目名称 收购子公司增加 本期购建 资本化率 资金来源
12 月 31 日 固定资产 无形资产 长期待摊费用 其他减少 折算差额 6 月 30 日 累计金额 资本化金额
(%)
商用物业建设工程 - 23,811,617.67 118,455.94 - - - - - 23,930,073.61 - - - 自筹资金
H12 品质提升装修费 - - 5,524,769.36 - - - - - 5,524,769.36 - - - 自筹资金
窝趣上海酒店装修工程 - 2,974,962.75 839,985.10 - - - - - 3,814,947.85 - - - 自筹资金
锦江之星 BI 商务智能平台项目工程及其他 558,789.87 - 3,050,301.75 (111,410.26) (1,036,115.68) - - - 2,461,565.68 - - - 自筹资金
GDL 其他装修工程 35,176,925.99 - 61,132,390.55 (26,800,673.18) - - - 965,786.49 70,474,429.85 - - - 自筹资金
境内其他在建工程 7,233,702.36 18,602,891.77 39,024,479.41 (18,464,151.83) (7,370,036.39) (14,822,331.41) (5,775,000.00) - 18,429,553.91 - - - 自筹资金
合计 674,948,908.96 45,389,472.19 318,237,545.52 (113,230,672.53) (13,239,212.62) (206,438,892.00) (12,848,582.74) 3,283,631.79 696,102,198.57
(3) 本期无计提在建工程减值准备。
88
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
13、无形资产
人民币元
专利、相关权利
项目 土地使用权 长期租约受益权 商标及品牌(注) 会员权 合计
及软件
一、账面原值
1.2015 年 12 月 31 日 258,518,949.02 93,645,799.45 2,088,988,345.47 - 336,646,104.31 2,777,799,198.25
2.本期增加金额 108,086,169.71 253,814,005.00 3,194,600,000.00 190,900,000.00 437,916,085.53 4,185,316,260.24
(1)购置 - - - - 1,305,786.83 1,305,786.83
(2)在建工程转入 - - - - 13,239,212.62 13,239,212.62
(3)收购子公司增加 108,086,169.71 253,814,005.00 3,194,600,000.00 190,900,000.00 423,371,086.08 4,170,771,260.79
3.本期减少金额 - - - - (1,021,526.53) (1,021,526.53)
(1)处置 - - - - (1,021,526.53) (1,021,526.53)
4.外币报表折算差额 - 1,839,496.37 82,379,487.41 - 9,590,474.72 93,809,458.50
5.2016 年 6 月 30 日 366,605,118.73 349,299,300.82 5,365,967,832.88 190,900,000.00 783,131,138.03 7,055,903,390.46
二、累计摊销
1.2015 年 12 月 31 日 71,351,127.79 23,191,857.52 - - 227,310,945.75 321,853,931.06
2.本期增加金额 5,726,685.81 60,162,015.48 - 3,483,333.32 90,909,803.00 160,281,837.61
(1)计提 4,049,718.10 14,530,260.75 - 3,483,333.32 39,930,097.39 61,993,409.56
(2)收购子公司增加 1,676,967.71 45,631,754.73 - - 50,979,705.61 98,288,428.05
3.本期减少金额 - - - - (110,000.10) (110,000.10)
(1)处置 - - - - (110,000.10) (110,000.10)
4.外币报表折算差额 - 114,673.07 - - 6,662,705.97 6,777,379.04
5.2016 年 6 月 30 日 77,077,813.60 83,468,546.07 - 3,483,333.32 324,773,454.62 488,803,147.61
三、减值准备
1.2015 年 12 月 31 日 - - - - - -
2.本期增加金额 - - - - - -
3.本期减少金额 - - - - - -
4.2016 年 6 月 30 日 - - - - - -
四、账面价值
1.2016 年 6 月 30 日 289,527,305.13 265,830,754.75 5,365,967,832.88 187,416,666.68 458,357,683.41 6,567,100,242.85
2.2015 年 12 月 31 日 187,167,821.23 70,453,941.93 2,088,988,345.47 - 109,335,158.56 2,455,945,267.19
注： 本集团认为在可预见的将来该等商标及品牌均会使用并带给本集团预期的经济利益流入，故其使用
寿命是不确定的。
14、商誉
(1) 商誉账面原值
人民币元
2015 年 2016 年
被投资单位名称或形成商誉的事项 本期增加 外币报表折算差额
12 月 31 日 6 月 30 日
Keystone(注1) - 5,644,223,388.69 - 5,644,223,388.69
GDL(注2) 4,120,774,403.95 141,229,956.00 168,072,615.27 4,430,076,975.22
山西金广快捷酒店管理有限公司(“金广快捷”) 40,171,417.85 - - 40,171,417.85
时尚之旅 51,785,803.21 - - 51,785,803.21
深圳市都之华酒店管理有限公司(“都之华”) 3,740,756.59 - - 3,740,756.59
合计 4,216,472,381.60 5,785,453,344.69 168,072,615.27 10,169,998,341.56
注 1：本期增加系本集团非同一控制下企业合并 Keystone 的合并成本大于合并中取得对方可辨认净资产公
允价值份额的差异(详见附注(六)1)。
注 2：本公司管理层于 2016 年 2 月根据对 GDL 收购对价的最佳估计调增了收购 GDL 的商誉 1,065,000.00
欧元，折合人民币 7,464,150.40 元，截至本财务报告期末，GDL 收购对价最终金额的协商及确定工
作尚在进行过程中。
于 2016 年 1 月，GDL 非同一控制下企业合并 Nordic Hotel AG Kiel GmbH 等 9 家公司(统称“Nordic”
的合并成本超过合并中取得对方可辨认净资产公允价值份额的金额为 18,853,000.00 欧元，折合人民
币 133,765,805.60 元，确认为商誉。详见附注(六)1。
89
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
14、商誉 - 续
(2) 商誉减值准备
将商誉分摊到资产组
本集团以经营分部作为报告分部。为减值测试的目的，本集团将商誉分摊至五个资产组，包括一个属于中
国大陆境外有限服务型酒店营运及管理业务分部的资产组、一个属于中国大陆境内铂涛集团有限服务型酒
店营运及管理业务分部的资产组和三个属于中国大陆境内锦江都城有限服务型酒店营运及管理业务分部
的资产组。2016 年 6 月 30 日，分配到这五个资产组的商誉的账面价值及相关减值准备如下：
人民币元
成本 减值准备 2016 年 6 月 30 日
中国大陆境外有限服务型酒店营运及管理业务分部
4,430,076,975.22 - 4,430,076,975.22
-GDL
中国大陆境内铂涛集团有限服务型酒店营运及管理业
5,644,223,388.69 - 5,644,223,388.69
务分部-Keystone
中国大陆境内锦江都城有限服务型酒店营运及管理业
40,171,417.85 - 40,171,417.85
务分部-金广快捷
中国大陆境内锦江都城有限服务型酒店营运及管理业
51,785,803.21 - 51,785,803.21
务分部-时尚之旅
中国大陆境内锦江都城有限服务型酒店营运及管理业
3,740,756.59 - 3,740,756.59
务分部-都之华
合计 10,169,998,341.56 - 10,169,998,341.56
计算上述资产组的可收回金额的关键假设及其依据如下：
资产组的可收回金额按照预计未来现金流量的现值确定。在预计未来现金流量的现值时使用的关键假设为：
基于该资产组过去的业绩和对市场发展的预期估计预计的平均每间可供出租客房收入增长率以及折现率。
管理层认为上述假设发生的任何合理变化均不会导致资产组的账面价值合计超过其可收回金额。
90
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
15、长期待摊费用
人民币元
2015 年 本期增加 其他减少 外币报表 2016 年
项目 本期摊销金额
12 月 31 日 金额(注 1) 金额(注 2) 折算差额 6 月 30 日
经营租入固定资产改良支出 1,348,822,105.12 1,258,799,568.82 (190,291,005.88) (8,025,056.19) 3,313,293.99 2,412,618,905.86
经营租入固定资产装修支出 137,560,634.74 61,024,800.43 (26,151,431.95) - - 172,434,003.22
其他 12,969,582.83 - (2,523,832.87) (910,937.56) - 9,534,812.40
合计 1,499,352,322.69 1,319,824,369.25 (218,966,270.70) (8,935,993.75) 3,313,293.99 2,594,587,721.48
注 1： 本期增加金额包括因购买子公司而增加人民币 1,110,984,956.80 元，在建工程完工转入长期待摊费
用人民币 206,438,892.00 元，购置增加长期待摊费用人民币 1,718,673.63 元以及因工程竣工结算调
整而增加的人民币 681,846.82 元。
注 2： 其他减少金额包括因工程竣工结算调整而减少的长期待摊费用人民币 2,094,069.25 元，报废处置
人民币 446,397.48 元以及因经营租入固定资产改良支出发生减值而减少的人民币 6,395,527.02 元。
16、递延所得税资产/递延所得税负债
(1) 未经抵销的递延所得税资产
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目 可抵扣 可抵扣
递延所得税资产 递延所得税资产
暂时性差异 暂时性差异
应付职工薪酬 198,822,504.17 66,385,872.09 177,975,897.53 59,767,916.69
预提费用 41,122,443.36 10,280,610.84 - -
预收会员卡及积分的递延收益 85,231,597.76 21,302,488.10 64,690,459.15 16,167,203.46
经营租赁费用 173,665,353.07 42,980,088.23 142,621,464.41 35,219,116.06
政府补助 23,293,604.19 5,823,398.70 25,251,604.19 6,312,901.05
资产减值准备 84,145,414.79 21,036,167.18 12,666,125.98 3,166,344.99
固定资产折旧税会差异 12,670,152.05 3,167,538.01 16,905,137.72 4,226,284.43
可抵扣亏损(注) 1,827,732,249.67 594,796,615.82 1,562,652,502.16 528,199,384.42
资本化费用 4,715,578.74 1,178,894.69 3,655,834.88 913,958.72
其他 55,370,718.92 14,584,179.65 23,563,360.64 6,513,396.11
合计 2,506,769,616.72 781,535,853.31 2,029,982,386.66 660,486,505.93
注： 其中人民币 228,280,837.80 元可抵扣亏损系因收购 Keystone 而增加。
(2) 未经抵销的递延所得税负债
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目 应纳税 应纳税
递延所得税负债 递延所得税负债
暂时性差异 暂时性差异
计入其他综合收益的可供出售金融
850,370,740.46 212,592,685.13 1,187,210,833.11 296,802,708.29
资产公允价值变动
非同一控制下企业合并中资产公允
8,071,921,892.49 2,361,117,711.07 3,994,426,672.77 1,332,543,438.48
价值调整(注)
融资租赁费用 108,564,181.21 37,378,647.59 110,590,941.84 38,076,461.27
固定资产折旧税会差异 118,837,698.98 40,915,819.76 120,197,462.50 41,383,986.34
其他 75,517,489.40 25,974,334.55 65,876,261.57 22,645,977.44
合计 9,225,212,002.54 2,677,979,198.10 5,478,302,171.79 1,731,452,571.82
注： 其中人民币 3,988,088,401.88 元应纳税暂时性差异系因收购 Keystone 而增加。
91
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
16、递延所得税资产/递延所得税负债 - 续
(3) 以抵销后净额列示的递延所得税资产或负债
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目 递延所得税资产 抵销后递延所得 递延所得税资产 抵销后递延所得
和负债互抵金额 税资产或负债 和负债互抵金额 税资产或负债
递延所得税资产 280,283,548.52 501,252,304.79 260,089,930.83 400,396,575.10
递延所得税负债 280,283,548.52 2,397,695,649.58 260,089,930.83 1,471,362,640.99
(4) 未确认递延所得税资产明细
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
可抵扣亏损 671,788,918.21 413,750,764.05
可抵扣暂时性差异 43,751,739.98 44,438,759.48
合计 715,540,658.19 458,189,523.53
(5)未确认递延所得税资产的可抵扣亏损将于以下年度到期
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
2016 年 52,754,440.07 16,899,798.38
2017 年 100,529,085.43 37,272,783.04
2018 年 73,523,811.31 35,972,179.66
2019 年 119,405,324.05 84,520,506.00
2020 年及以后 325,576,257.35 239,085,496.97
合计 671,788,918.21 413,750,764.05
17、其他非流动资产
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
一年后到期的质押存款(附注(五)28) 3,306,492,000.00 3,778,848,000.00
一年后到期的质押存款利息 155,110,634.32 96,451,789.44
股权收购定金及预付款(附注(十二)1) 680,000,000.00 -
地下建筑租赁使用费 50,369,580.47 51,104,227.66
委托贷款(注) 36,464,154.53 9,000,000.00
保证金及押金 34,218,859.75 32,476,793.47
其他 4,277,145.34 2,141,971.70
合计 4,266,932,374.41 3,970,022,782.27
注：本财务报告期末，本集团下属子公司 Keystone 对加盟店发放委托贷款人民币 27,464,154.53 元，年利
率为 6%至 12%。旅馆投资委托财务公司向新锦酒店管理发放的委托贷款人民币 9,000,000.00 元，年
利率为 4.848%。
92
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
18、资产减值准备明细
人民币元
2015 年 本期收购 外币报表 2016 年
项目 本期计提 本期转回 本期转销
12 月 31 日 子公司增加 折算差额 6 月 30 日
一、坏账准备 125,545,702.82 3,046,081.34 20,205,406.41 (12,047,521.11) - 5,018,226.73 141,767,896.19
二、存货跌价准备 2,809,273.67 - - (43,431.60) - (50,487.97) 2,715,354.10
三、可供出售金融资产减值准备 3,190,916.78 - - - - 124,492.35 3,315,409.13
四、持有至到期投资减值准备 - - - - - - -
五、长期股权投资减值准备 - - - - - - -
六、投资性房地产减值准备 - - - - - - -
七、固定资产减值准备 46,583.32 - - - - - 46,583.32
八、工程物资减值准备 - - - - - - -
九、在建工程减值准备 - - - - - - -
十、生产性生物资产减值准备 - - - - - - -
十一、油气资产减值准备 - - - - - - -
十二、无形资产减值准备 - - - - - - -
十三、商誉减值准备 - - - - - - -
十四、长期待摊费用减值准备 - - 6,395,527.02 - - - 6,395,527.02
合计 131,592,476.59 3,046,081.34 26,600,933.43 (12,090,952.71) - 5,092,231.11 154,240,769.76
19、短期借款
短期借款分类：
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
信用借款—银行(注 1) 9,712,084,189.73 4,309,091,457.30
信用借款—其他金融机构(注 2) 900,000,000.00 900,000,000.00
质押借款(注 3) 1,865,325,000.00 -
合计(注 4) 12,477,409,189.73 5,209,091,457.30
注 1：本财务报告期末，本公司从中国建设银行股份有限公司获得为期一年的人民币短期借款，借款总
额人民币 2,000,000,000.00 元，借款年利率为 3.915%至 4.14%；从招商银行股份有限公司获得为期
一年的人民币短期借款，借款总额人民币 1,900,000,000.00 元，其中人民币 1,500,000,000.00 元以
浮动利率计息，本财务报告期间，借款年利率为 3.915%，人民币 400,000,000.00 元以固定利率计
息，借款年利率为 3.915%；从上海浦东发展银行股份有限公司获得为期一年的人民币短期借款，
借款总额人民币 1,800,000,000.00 元，借款年利率为 3.915%至 4.14%；从上海银行股份有限公司获
得为期一年的人民币短期借款，借款总额人民币 500,000,000.00 元，借款年利率为 3.915%；从中
国农业银行股份有限公司获得为期一年的人民币短期借款，借款总额人民币 1,000,000,000.00 元，
借款年利率为 3.915%；从中国银行股份有限公司获得为期一年的人民币短期借款，借款总额人民
币 1,000,000,000.00 元，借款年利率为 3.915%；从上海农商银行获得为期一年的人民币短期借款，
借款总额人民币 900,000,000.00 元，借款年利率为 3.915%。
本集团之子公司时尚之旅从中国工商银行股份有限公司获得为期一年的人民币短期借款，借款总
额人民币 600,000,000.00 元，借款年利率为 3.915%。
注 2：本财务报告期末，本集团信用借款中从财务公司获得的借款金额为人民币 900,000,000.00 元，借款
年利率为 3.22%至 3.48%。
93
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
19、短期借款 - 续
注 3：本财务报告期末，本集团子公司 Keystone 从中国银行股份有限公司获得为期一年的人民币短期借
款，借款总额人民币 2,000,000,000.00 元，借款年利率为 3.480%，由锦江国际提供担保，并以
Keystone 少数股东合计持有的 18.9966%股权作为质押。本财务报告期末，该借款合同下的余额为
1,865,325,000.00 元。
注 4：其中人民币 1,512,084,189.73 元借款以浮动利率计息。
20、应付账款
应付账款明细如下：
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
应付经营货款 1,131,506,394.10 561,562,250.52
应付工程项目款 453,348,175.87 376,577,119.03
合计 1,584,854,569.97 938,139,369.55
21、预收款项
预收款项明细如下：
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
预收货款 108,426,127.57 6,792,396.25
预收加盟费 99,051,392.13 46,231,786.77
预收房款及餐饮定金等 127,158,203.26 69,623,473.12
预收会员卡及储值卡 170,656,082.12 71,749,441.06
其他 20,217,578.97 -
合计 525,509,384.05 194,397,097.20
22、应付职工薪酬
(1) 应付职工薪酬列示
人民币元
2015 年 2016 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、短期薪酬 310,391,862.96 1,351,055,007.44 1,253,351,797.20 408,095,073.20
2、境内离职后福利-设定提存
1,693,067.10 88,262,689.91 60,928,111.79 29,027,645.22
计划
3、辞退福利 18,618,033.08 1,592,785.87 5,070,180.04 15,140,638.91
合计 330,702,963.14 1,440,910,483.22 1,319,350,089.03 452,263,357.33
94
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
22、应付职工薪酬 - 续
(2) 短期薪酬列示
人民币元
2015 年 2016 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、工资、奖金、津贴和补贴 219,163,641.07 1,062,281,626.07 1,013,217,816.04 268,227,451.10
2、职工福利费 6,068.16 22,372,264.67 22,372,234.67 6,098.16
3、境内社会保险费 2,028,439.69 48,803,806.75 32,258,601.90 18,573,644.54
其中：医疗保险费 1,952,962.51 42,351,355.04 28,232,725.48 16,071,592.07
工伤保险费 25,604.22 2,473,896.27 1,580,689.22 918,811.27
生育保险费 49,872.96 3,978,555.44 2,445,187.20 1,583,241.20
4、境内住房公积金 1,019,136.23 58,738,883.69 18,939,885.54 40,818,134.38
5、境外社会保险费 86,167,053.28 147,568,417.98 155,346,457.55 78,389,013.71
6、工会经费和职工教育经费 1,998,756.71 6,763,350.09 6,690,143.31 2,071,963.49
7、其他 8,767.82 4,526,658.19 4,526,658.19 8,767.82
合计 310,391,862.96 1,351,055,007.44 1,253,351,797.20 408,095,073.20
(3) 境内离职后福利-设定提存计划
人民币元
2015 年 2016 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、养老保险费 1,548,895.71 82,396,012.20 57,206,071.67 26,738,836.24
2、失业保险费 144,171.39 5,866,677.71 3,722,040.12 2,288,808.98
合计 1,693,067.10 88,262,689.91 60,928,111.79 29,027,645.22
本公司及境内子公司按规定参加由政府机构设立的养老保险、失业保险计划，根据该等计划，本公司及
境内子公司分别按员工上一年度月平均工资的一定比例每月计提费用。除上述每月计提的费用外，本公
司及境内子公司不再承担进一步支付义务。相应的支出于发生时计入当期损益或相关资产的成本。
本财务报告期内，本公司及境内子公司应分别向养老保险、失业保险计划缴存费用人民币 56,514,129.04
元及人民币 3,648,230.58 元。本财务报告期末，本集团尚有人民币 26,738,836.24 元及人民币 2,288,808.98
元的应缴存费用是于本财务报告期内到期而未支付给养老保险及失业保险计划的。
95
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
23、应交税费
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
增值税 111,601,474.80 48,533,402.19
营业税 424,739.54 12,852,508.17
企业所得税 91,829,031.80 124,355,804.71
个人所得税 12,172,982.69 2,848,731.75
房产税 5,922,936.08 7,093,797.80
境内其他税费 13,794,843.94 9,762,453.41
境外其他税费 44,949,274.63 41,791,014.05
合计 280,695,283.48 247,237,712.08
24、应付利息
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
长期借款应付利息 29,623,474.70 13,229,717.09
短期借款应付利息 12,750,087.33 6,886,855.21
合计 42,373,562.03 20,116,572.30
25、应付股利
人民币元
单位名称 2016 年 6 月 30 日 2015 年 12 月 31 日
应付 A 股股东股利 429,303.93 395,560.41
应付 GDL 之非全资子公司少数股东股利 20,970.81 193,587.35
合计 450,274.74 589,147.76
96
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
26、其他应付款
(1) 其他应付款明细如下：
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
代收款 306,207,842.87 16,394,865.42
定金和押金 96,654,361.91 19,081,627.80
非公开发行履约保证金(注(3)) 91,118,465.72 90,635,621.93
预提费用 81,748,369.31 54,232,809.17
预提重大资产置换及附属交易涉及税金(注(2)A) 58,623,448.29 58,623,448.29
工程保证金 39,179,425.14 23,565,286.40
项目合作款(注(2)B) 30,000,000.00 -
尚未支付的子公司收购款(注(3)) 22,862,500.00 24,548,934.14
应付华天之星股权转让款(注(2)C) 15,362,764.00 -
预提股权收购项目中介机构费用 14,294,130.57 5,814,869.44
应付诉讼款(注(4)) 10,852,437.20 -
应付时尚之旅股权转让款(注(2)D) 9,796,303.25 9,796,303.25
其他 59,364,212.11 45,283,702.18
合计 836,064,260.37 347,977,468.02
(2) 本财务报告期末账龄超过 1 年的大额其他应付款情况的说明
本财务报告期末，账龄超过 1 年的的大额其他应付款包括：
A.本公司预提尚未支付的最终金额尚需待相关税金的清算工作完成后确定的重大资产置换及附属交
易涉及税金人民币 58,623,448.29 元。
B.本集团之子公司 Keystone 应付项目合作款余额人民币 30,000,000.00 元，系 Keystone 2013 年收到
第三方合作方关于双方合作开发商用物业项目的合作款。本财务报告期末，该合作项目尚未实施。
该款项未来将用于合作项目支出用途。
C. 本 集 团 之 子 公 司 Keystone 应 付 湖 南 华 天 之 星 酒 店 管 理 有 限 公 司 股 权 转 让 款 余 额 人 民 币
15,362,764.00 元，该股权转让款系出让方未完全履行合同规定，尚未支付的合同尾款。
D.本公司应付时尚之旅股权转让款余额人民币 9,796,303.25 元，该股权转让款余额作为交易保证金将
于时尚之旅瑕疵物业等事项解除后进行支付。
(3) 本财务报告期末，除(2)中所述项目外，本集团大额的其他应付款包括本集团拟在本财务报告期后非
公开发行股票而向投资者收取的履约保证金人民币 91,118,465.72 元(详见附注(十二)2)，GDL 尚未支
付的预计子公司收购款人民币 22,862,500.00 元。
(4) 本财务报告期末，本集团之子公司 Keystone 由于房屋租赁、平台服务费等事项受到起诉，并且根据
诉讼判决结果确认应付款人民币 10,852,437.20 元。Keystone 由于上述诉讼，人民币 4,687,687.94 元
的银行存款被冻结。
(5) 除(2)、(3)、(4)中所述项目外，本财务报告期末本集团的其他应付款主要系与日常经营有关的预提租
金等费用、代收款项、定金和押金等款项。
97
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
27、一年内到期的非流动负债
(1) 一年内到期的非流动负债明细如下：
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
一年内到期的长期借款 2,859,438,106.42 6,543,659.66
一年内到期的长期应付款 9,340,929.50 9,734,144.94
一年内到期的其他非流动负债 4,816,000.00 4,816,000.00
合计 2,873,595,035.92 21,093,804.60
(2) 一年内到期的长期借款的情况详见附注(五)28。
(3) 一年内到期的长期应付款的情况详见附注(五)29。
(4) 一年内到期的其他非流动负债的情况详见附注(五)32。
28、长期借款
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
质押借款(注 1) 14,429,943,334.75 9,147,875,942.00
抵押借款(注 2) 77,686,731.27 81,444,791.35
信用借款 82,626,750.59 85,902,274.58
委托借款(注 3) 4,500,000.00 4,500,000.00
合计(注 4) 14,594,756,816.61 9,319,723,007.93
减：一年内到期的长期借款 2,859,438,106.42 6,543,659.66
一年后到期的长期借款 11,735,318,710.19 9,313,179,348.27
注 1：本财务报告期末，本集团从中国工商银行股份有限公司等银团融入借款 1,289,483,842.00 欧元，折
合人民币 9,509,943,334.75 元，其中一年内到期借款 386,845,152.60 欧元，折合人民币
2,852,983,000.42 元。该借款以一年内到期定期存款人民币 1,417,068,000.00 元、一年后到期定期存
款人民币 3,306,492,000.00 元以及子公司海路投资之所有权作为质押，并由锦江国际提供担保。借
款期限自 2015 年 5 月 19 日至 2018 年 5 月 18 日，年利率为浮动利率，加权平均利率为 1.14%。
本财务报告期末，本集团从中国进出口银行有限公司融入借款人民币 4,920,000,000.00 元。该借款
以子公司 Keystone 81.0034%股权作为质押。借款期限自 2016 年 2 月 18 日至 2022 年 2 月 18 日，
年利率为浮动利率，本财务报告期内加权平均利率为 3.25%。
注 2：本财务报告期末，本集团下属子公司向境外银行融入借款 48,945,849.35 波兰兹罗提，折合人民币
77,686,731.27 元，其中一年内到期借款为人民币 6,455,106.00 元。本集团下属相关子公司以其固定
资产作为抵押，详见附注(五)11(4)。借款到期日为 2023 年 3 月 31 日，年利率为波兰银行间三个月
同业拆借利率上浮 2.70 百分点。
注 3：本财务报告期末，旅馆投资下属子公司沈阳锦富酒店投资管理有限公司向沈阳副食品集团公司取
得的借款余额为人民币 4,500,000.00 元，借款期限自 2014 年 12 月 30 日至 2017 年 12 月 29 日止，
年利率为 1.2%。
注 4：其中人民币 14,585,513,217.68 元借款以浮动利率计息。
98
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
29、长期应付款
(1) 按款项性质列示长期应付款
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
应付融资租赁款 152,942,519.50 152,007,228.70
其他 59,000.00 56,761.60
合计 153,001,519.50 152,063,990.30
(2) 长期应付款中的应付融资租赁款明细
人民币元
2016 年 6 月 30 日
资产负债表日后第 1 年 18,787,468.37
资产负债表日后第 2 年 18,787,468.37
资产负债表日后第 3 年 18,787,468.37
以后年度 225,029,742.67
最低租赁付款额合计 281,392,147.78
减：未确认融资费用 119,108,698.78
应付融资租赁款(注) 162,283,449.00
其中：一年内到期的应付融资租赁款 9,340,929.50
一年后到期的应付融资租赁款 152,942,519.50
并无由独立第三方为本集团融资租赁提供担保的金额。
注： 应付融资租赁款中人民币 156,615,500.00 元以浮动利率计息，对于其中人民币 121,997,250.00 元的
应付融资租赁款，本集团已经购买了利率互换合同，详见附注(五)50。
99
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
30、长期应付职工薪酬
(1) 长期应付职工薪酬
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
离职后福利-设定受益计划净负债 175,505,537.38 161,863,492.93
合计 175,505,537.38 161,863,492.93
系 GDL 根据所在地国家、行业及公司的相关工资协议规定、员工服务年限及工资水平所决定。
(2) 设定受益计划变动情况
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
一、期初余额 161,863,492.93 -
二、本期收购子公司增加 - 158,746,996.46
三、计入当期损益的设定受益成本 2,382,446.51 (4,673,263.29)
1、当期服务成本 1,943,765.34 1,458,430.01
2、结算利得 - (6,510,289.45)
3、利息净额 438,681.17 378,596.15
四、计入其他综合收益的设定受益成本 6,824,578.00 1,304,163.47
1、精算损失 6,824,578.00 1,304,163.47
五、结算时支付的对价 (2,060,389.29) (1,654,620.51)
六、本期外币报表折算差额 6,495,409.23 (1,349,059.01)
七、期末余额 175,505,537.38 152,374,217.12
100
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
30、长期应付职工薪酬 - 续
(2) 设定受益计划变动情况 - 续
设定受益计划的内容及与之相关风险、对 GDL 未来现金流量、时间和不确定性的影响说明：
设定受益计划使 GDL 面临精算风险，这些风险包括利率风险、长寿风险和通货膨胀风险。政府债券收
益率的降低将导致设定受益计划义务现值增加。设定受益计划义务现值基于参与计划的员工的死亡率的
最佳估计来计算，计划成员预期寿命的增加将导致计划负债的增加。此外，设定受益计划义务现值与计
划未来的支付标准相关，而支付标准根据通货膨胀率确定，因此，通货膨胀率的上升亦将导致计划负债
的增加。
GDL 聘请了 SPAC 公司，根据预期累积福利单位法，以精算方式估计其上述退休福利计划义务的现值。
这项计划以通货膨胀率和死亡率假设预计未来现金流出，以折现率确定其现值。折现率根据资产负债表
日与设定受益计划义务期限和币种相匹配的活跃市场上的高质量公司债券的市场收益率确定。GDL 根据
精算结果确认 GDL 的负债，相关精算利得或损失计入其他综合收益，并且在后续会计期间不会转回至
损益。过去服务成本会在对计划作出修订的期间计入当期损益。通过将设定受益计划净负债乘以适当的
折现率来确定利息净额。
在确定设定受益计划义务现值时所使用的重大精算假设为折现率、通货膨胀率及死亡率。本财务报表期
间折现率与通货膨胀率均为 1.75%。死亡率的假设是以 65 岁退休的男性职工和 60 岁退休的女性职工的
平均预期剩余生命年限，本财务报表期间年限分别为 23.1 年以及 27.7 年。GDL 总部人员薪酬预期 2016
年增长率为 3%，酒店人员薪酬的预期增长率为 2.5%。当员工达到相关规定工作年限后退休，其可领取
的社会福利将不受影响(年龄段包括 60 岁至 65 岁，退休年龄的不同取决于其职业类别及出生年份)。确
定退休年龄时假定普通职员、行政人员以及行政主管分别于 20 岁、22 岁及 23 岁开始工作。
下述敏感性分析以相应假设在报告期末发生的合理可能变动为基础(所有其他假设维持不变)：
如果折现率增加(减少)0.50%，则设定受益计划义务现值将减少人民币 4,210,700.22 元(增加人民币
3,791,728.10 元)。
如果通货膨胀率增加(减少)0.50%，则设定受益计划义务现值将增加人民币 10,759,678.00 元(减少人
民币 12,081,157.67 元)。
如果薪酬的预期增长率增加(减少)0.50%，则设定受益计划义务现值将增加人民币 3,724,223.56 元(减
少人民币 4,101,288.48 元)。
由于部分假设可能具有相关性，一项假设不可能孤立地发生变动，因此上述敏感性分析不一定能反映设
定受益计划义务现值的实际变动。
在上述敏感性分析中，报告期末设定受益计划净负债的计算方法与资产负债表中确认相关债务的计算方
法相同。
与以往年度相比，用于敏感性分析的方法和假设未发生任何变动。
101
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
31、预计负债
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
未决诉讼(注) 8,544,734.07 45,798,967.52
索赔准备 13,302,536.41 12,542,327.18
合计 21,847,270.48 58,341,294.70
注：本财务报告期内，GDL 下属子公司与波兰 Handlowy 银行的诉讼已经判决，GDL 下属子公司根据判
决结果支付了相应的赔偿款，并转回了上年末的预计负债 20,855,500 波兰兹罗提，折合人民币 34,693.93
千元，详见附注(五)44。
32、其他非流动负债
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
营销基金(注 1) 73,955,876.08 57,877,875.40
会员积分 36,525,919.62 -
政府补助 23,293,604.19 25,251,604.19
长租约亏损(注 2) 16,200,702.97 -
其他 1,059,253.48 1,043,361.43
减：一年内到期的其他非流动负债 4,816,000.00 4,816,000.00
一年后到期的其他非流动负债 146,219,356.34 79,356,841.02
注 1：营销基金系 GDL 向加盟酒店收取的品牌推广费，用于 GDL 未来发生的品牌推广活动。
注 2：长租约亏损为 Keystone 2013 年私有化收购 7 Days Group Holdings Limited(“7 Days Group”)过程
中根据评估确定的 7 Days Group 已签订的不可撤销租赁合同未来现金流出高于收购日市场公允价
值部分的现值。该长租约租赁亏损按照相应租赁合同的剩余期限进行摊销。
涉及政府补助的项目：
人民币元
2015 年 本期计入 2016 年 与资产相关
负债项目 本期新增补助金额
12 月 31 日 营业外收入金额 6 月 30 日 /与收益相关
信息平台扶持基金 11,700,000.00 - 1,950,000.00 9,750,000.00 与资产相关
新城饭店项目扶持基金 5,500,000.00 - - 5,500,000.00 与资产相关
时尚之旅项目扶持基金 5,000,000.00 - - 5,000,000.00 与资产相关
锦江都城品牌推广扶持基金 2,920,937.52 - - 2,920,937.52 与收益相关
其他 130,666.67 - 8,000.00 122,666.67 与资产相关
合计 25,251,604.19 - 1,958,000.00 23,293,604.19
102
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
33、股本
人民币元
2015 年 本期变动 2016 年
12 月 31 日 非公开发行新股 送股 公积金转股 其他 小计 6 月 30 日
一、有限售条件股份
1 国家持股 101,277,000.00 - - - - - 101,277,000.00
2. 国有法人持股 - - - - - - -
3. 其他内资持股 - - - - - - -
4. 外资持股 100,000,000.00 - - - - - 100,000,000.00
有限售条件股份合计 201,277,000.00 - - - - - 201,277,000.00
二、无限售条件股份
1. 人民币普通股 447,240,740.00 - - - - - 447,240,740.00
2. 境内上市外资股 156,000,000.00 - - - - - 156,000,000.00
3. 境外上市外资股 - - - - - - -
4. 其他 - - - - - - -
无限售条件股份合计 603,240,740.00 - - - - - 603,240,740.00
三、股份总数 804,517,740.00 - - - - - 804,517,740.00
人民币元
2014 年 上期变动 2015 年
12 月 31 日 非公开发行新股 送股 公积金转股 其他 小计 6 月 30 日
一、有限售条件股份
1 国家持股 101,277,000.00 - - - - - 101,277,000.00
2. 国有法人持股 - - - - - - -
3. 其他内资持股 - - - - - - -
4. 外资持股 100,000,000.00 - - - - - 100,000,000.00
有限售条件股份合计 201,277,000.00 - - - - - 201,277,000.00
二、无限售条件股份
1. 人民币普通股 447,240,740.00 - - - - - 447,240,740.00
2. 境内上市外资股 156,000,000.00 - - - - - 156,000,000.00
3. 境外上市外资股 - - - - - - -
4. 其他 - - - - - - -
无限售条件股份合计 603,240,740.00 - - - - - 603,240,740.00
三、股份总数 804,517,740.00 - - - - - 804,517,740.00
34、资本公积
人民币元
2015 年 2016 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
资本溢价 4,318,594,736.95 - - 4,318,594,736.95
其中：投资者投入的资本 3,432,896,828.00 - - 3,432,896,828.00
同一控制下企业合并形成的差额 1,027,136,210.91 - - 1,027,136,210.91
收购少数股东股权 (141,438,301.96) - - (141,438,301.96)
其他资本公积-原制度资本公积转入 163,502,812.00 - - 163,502,812.00
合计 4,482,097,548.95 - - 4,482,097,548.95
人民币元
2014 年 2015 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
资本溢价 4,318,594,736.95 - - 4,318,594,736.95
其中：投资者投入的资本 3,432,896,828.00 - - 3,432,896,828.00
同一控制下企业合并形成的差额 1,027,136,210.91 - - 1,027,136,210.91
收购少数股东股权 (141,438,301.96) - - (141,438,301.96)
其他资本公积-原制度资本公积转入 163,502,812.00 - - 163,502,812.00
合计 4,482,097,548.95 - - 4,482,097,548.95
103
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
35、其他综合收益
人民币元
本期发生额
2015 年 减：前期计入其他 2016 年
项目 本期所得税前发 税后归属于 税后归属于
12 月 31 日 综合收益当期转 减：所得税费用 6 月 30 日
生额 母公司所有者 少数股东
入损益
一、以后不能重分类进损益的其他综合收益
其中：重新计算设定受益计划净负债或净资产
587,012.14 (6,824,578.00) - (2,349,702.21) (4,474,875.79) - (3,887,863.65)
的变动
二、以后将重分类进损益的其他综合收益
其中：可供出售金融资产公允价值变动损益 890,408,124.80 (146,933,456.25) 162,244,213.06 (84,210,023.16) (230,222,566.06) 5,254,919.91 660,185,558.74
权益法下在被投资单位以后将重分类进损益
2,830,442.91 - - - - - 2,830,442.91
的其他综合收益中享有的份额
现金流量套期损益的有效部分 817,758.02 (1,110,917.70) - (382,488.96) (728,428.74) - 89,329.28
外币财务报表折算差额 13,828,808.29 (4,020,037.49) - - (9,692,298.99) 5,672,261.50 4,136,509.30
合计 908,472,146.16 (158,888,989.44) 162,244,213.06 (86,942,214.33) (245,118,169.58) 10,927,181.41 663,353,976.58
人民币元
上期发生额
2014 年 减：前期计入其他 2015 年
项目 本年所得税前发 税后归属于 税后归属于
12 月 31 日 综合收益当期转 减：所得税费用 6 月 30 日
生额 母公司所有者 少数股东
入损益
一、以后不能重分类进损益的其他综合收益
其中：重新计算设定受益计划净负债或净资产
- (1,304,163.47) - (449,023.49) (855,139.98) - (855,139.98)
的变动
二、以后将重分类进损益的其他综合收益
其中：可供出售金融资产公允价值变动损益 1,637,319,869.25 (347,853,841.86) 146,932,726.39 (123,696,642.07) (371,089,926.18) - 1,266,229,943.07
权益法下在被投资单位以后将重分类进损益
1,954,031.01 - - - - - 1,954,031.01
的其他综合收益中享有的份额
现金流量套期损益的有效部分 - 1,909,078.68 - 531,734.68 1,377,344.00 - 1,377,344.00
外币财务报表折算差额 - 5,035,806.43 - - 6,562,487.67 (1,526,681.24) 6,562,487.67
合计 1,639,273,900.26 (342,213,120.22) 146,932,726.39 (123,613,930.88) (364,005,234.49) (1,526,681.24) 1,275,268,665.77
36、盈余公积
人民币元
项目 2015 年 12 月 31 日 本期增加 本期减少 2016 年 6 月 30 日
法定盈余公积 398,582,375.60 - - 398,582,375.60
任意盈余公积 180,681,288.50 - - 180,681,288.50
合计 579,263,664.10 - - 579,263,664.10
人民币元
项目 2014 年 12 月 31 日 本期增加 本期减少 2015 年 6 月 30 日
法定盈余公积 348,534,452.92 - - 348,534,452.92
任意盈余公积 180,681,288.50 - - 180,681,288.50
合计 529,215,741.42 - - 529,215,741.42
根据《中华人民共和国公司法》及本公司章程，本公司按年度母公司净利润的 10%提取法定盈余公积金；
当法定盈余公积金累计额达到股本的 50%以上时，可不再提取。法定盈余公积金经批准后可用于弥补亏
损或者增加股本。任意盈余公积金经批准后可用于弥补以前年度亏损或增加股本。
104
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
37、未分配利润
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
期初未分配利润 1,509,447,901.74 1,243,693,387.43
加：本期归属于母公司所有者的净利润 299,157,333.01 291,508,994.19
减：提取法定盈余公积 - -
提取任意盈余公积 - -
应付普通股股利 386,168,515.20 321,807,096.00
转作股本的普通股股利 - -
期末未分配利润 1,422,436,719.55 1,213,395,285.62
38、营业收入、营业成本
(1) 营业收入、营业成本
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日 2015 年 1 月 1 日至 2015 年 6 月 30 日
行业名称 止期间 止期间
收入 成本 收入 成本
主营业务 4,368,066,454.15 434,086,030.02 2,489,197,865.96 225,004,836.43
其他业务 114,631.11 10,296.02 131,180.00 -
合计 4,368,181,085.26 434,096,326.04 2,489,329,045.96 225,004,836.43
(2) 主营业务(分行业)
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日 2015 年 1 月 1 日至 2015 年 6 月 30 日
行业名称 止期间 止期间
主营业务收入 主营业务成本 主营业务收入 主营业务成本
酒店营运及管理业务 4,247,058,545.83 374,071,062.44 2,364,399,353.37 165,582,326.43
食品及餐饮业务 121,007,908.32 60,014,967.58 124,798,512.59 59,422,510.00
合计 4,368,066,454.15 434,086,030.02 2,489,197,865.96 225,004,836.43
(3) 按照地区划分的营业收入
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
中国大陆境内地区 2,650,509,160.94 1,422,405,447.71
其中：上海地区 712,170,913.85 622,841,462.14
上海以外地区 1,938,338,247.09 799,563,985.57
中国大陆境外地区 1,717,671,924.32 1,066,923,598.25
合计 4,368,181,085.26 2,489,329,045.96
105
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
38、营业收入、营业成本 - 续
(4) 中国大陆境内及境外有限服务型酒店营运及管理业务营业收入及营业成本
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日 2015 年 1 月 1 日至 2015 年 6 月 30 日
行业名称 止期间 止期间
营业收入 营业成本 营业收入 营业成本
客房 2,638,293,742.78 - 1,518,616,776.65 -
餐饮 448,449,608.48 194,520,473.85 325,238,565.75 132,738,079.55
商品销售 172,500,888.34 142,939,581.10 19,067,931.47 14,834,023.67
管理
首次加盟费 72,142,416.70 - 22,267,759.37 -
持续加盟费 628,717,518.46 - 331,227,481.62 -
订房渠道费(注) 25,572,114.14 - 26,150,884.00 -
其他 64,882,544.51 - 28,595,065.51 -
管理小计： 791,314,593.81 - 408,241,190.50 -
其他
会员卡 91,170,234.42 - 41,034,063.51 -
租赁 23,816,938.93 12,163,090.20 23,459,606.64 11,628,456.07
其他 81,512,539.07 24,447,917.29 28,741,218.85 6,381,767.14
其他小计: 196,499,712.42 36,611,007.49 93,234,889.00 18,010,223.21
合计 4,247,058,545.83 374,071,062.44 2,364,399,353.37 165,582,326.43
注：系通过中央订房系统送达各连锁加盟店的客房预订，按实际住店间夜数和一定标准向相关加盟店收
取的订房渠道销售费。
(5) 餐饮业务营业收入及营业成本
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日 2015 年 1 月 1 日至 2015 年 6 月 30 日
行业名称 止期间 止期间
营业收入 营业成本 营业收入 营业成本
连锁餐饮 48,195,696.92 21,757,019.47 66,560,065.42 31,226,661.47
团体用膳 66,421,607.93 31,555,419.95 54,692,668.87 24,831,349.85
食品销售 4,720,256.13 5,554,690.25 1,606,158.11 2,474,710.60
其他 1,670,347.34 1,147,837.91 1,939,620.19 889,788.08
合计 121,007,908.32 60,014,967.58 124,798,512.59 59,422,510.00
106
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
38、营业收入、营业成本 - 续
(6) 本集团来自前五名客户的营业收入情况
人民币元
占集团全部营业收入
客户名称 营业收入
的比例(%)
Brake France Services 18,898,603.36 0.43
东方证券股份有限公司 8,174,995.11 0.19
上海上期商务服务有限公司 8,070,490.10 0.18
上海证券交易所 7,614,360.20 0.17
中国外汇交易中心 6,438,853.59 0.15
合计 49,197,302.36 1.12
39、按性质分类的成本与费用
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
商品成本 423,833,321.53 212,057,012.12
职工薪酬 1,286,180,237.37 724,434,452.97
其中：工资和薪金 992,440,126.57 533,103,842.56
社会保险费和住房公积金 238,077,685.79 158,574,715.38
福利费和其他费用 55,662,425.01 32,755,895.03
能源费及物料消耗 343,144,858.55 175,442,817.60
折旧与摊销 571,858,490.25 310,125,819.26
经营租赁费用 634,463,876.21 280,300,117.99
维修和维护费 188,106,755.62 103,682,728.43
房产税及其他税费附加 63,961,399.71 28,441,391.17
其他 502,017,732.16 348,015,320.90
营业成本、销售费用及管理费用合计 4,013,566,671.40 2,182,499,660.44
40、营业税金及附加
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
营业税 68,549,177.40 64,736,874.02
城市维护建设税 8,619,423.99 4,781,399.38
教育费附加 5,235,435.41 3,497,400.71
其他 993,319.83 300.00
合计 83,397,356.63 73,015,974.11
107
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
41、财务费用
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
利息支出 329,075,288.26 163,947,820.11
减﹕已资本化的利息费用 - -
减﹕利息收入 115,813,629.52 98,123,311.07
汇兑差额 (6,915,815.01) (451,281.40)
减﹕已资本化的汇兑差额 - -
其他 23,172,230.74 11,818,827.12
合计 229,518,074.47 77,192,054.76
42、资产减值损失
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
一、坏账损失 8,157,885.30 157,515.90
二、存货跌价损失(转回) (43,431.60) (41,119.00)
三、可供出售金融资产减值损失 - -
四、长期股权投资减值损失 - -
五、投资性房地产减值损失 - -
六、固定资产减值损失 - -
七、在建工程减值损失 - -
八、无形资产减值损失 - -
九、商誉减值损失 - -
十、长期待摊费用减值损失 6,395,527.02 -
合计 14,509,980.72 116,396.90
43、投资收益
(1) 投资收益明细情况
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
权益法核算的长期股权投资收益 50,550,196.85 18,393,650.93
持有可供出售金融资产期间取得的投资收益 73,025,197.50 50,668,411.52
处置可供出售金融资产取得的投资收益 206,373,718.01 160,635,323.08
其他 3,055,180.11 257,582.56
合计 333,004,292.47 229,954,968.09
108
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
43、投资收益 - 续
(2) 按权益法核算的长期股权投资收益
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
被投资单位 2016 年 6 月 30 日 2015 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
上海肯德基 45,812,247.38 13,927,868.57 因营业收入增加，本期盈利高于上期
新亚富丽华 2,879,467.78 2,679,541.46 本期盈利与上期持平
新鹿餐饮 129,449.49 130,411.80 本期盈利与上期持平
上海吉野家 (294,939.10) (2,214,810.60) 因营业收入增加，本期亏损低于上期
静安面包房 (739,096.38) (446,946.30) 因成本费用增加，本期亏损高于上期
新锦酒店管理 47,805.85 (1,551,472.60) 因营业收入增加，本期开始盈利
圣地香巴拉 (493,444.64) - 本期并购增加
广州铭岩信息 (76,537.75) - 本期并购增加
广州蛋壳网络 (120,074.69) - 本期并购增加
广州乐寄信息 (84,529.13) - 本期并购增加
深圳第五空间公寓 (188,731.55) - 本期并购增加
广州辐伦淄信息 (94,659.50) - 本期并购增加
广州创变者 11,684.08 - 本期并购增加
广州虫洞网络 (348,384.41) - 本期并购增加
广州沁游商务 19,261.35 - 本期并购增加
广州小胖信息 (17,104.49) - 本期并购增加
GDL 之联营企业 4,107,782.56 5,869,058.60 因成本费用增加，本期盈利低于上期
合计 50,550,196.85 18,393,650.93
(3) 持有可供出售金融资产期间取得的投资收益
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
被投资单位 2016 年 6 月 30 日 2015 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
杭州肯德基有限公司 29,157,567.86 19,014,053.96 宣告发放股利有所增加
长江证券股份有限公司 26,600,000.00 17,850,000.00 宣告发放股利有所增加
苏州肯德基有限公司 10,780,761.00 8,699,126.93 宣告发放股利有所增加
无锡肯德基有限公司 4,691,549.98 2,733,569.98 宣告发放股利有所增加
申万宏源证券股份有限公司 1,663,284.90 - 上期未宣告发放股利
GDL 之可供出售金融资产 - 1,949,629.67 本期尚未宣告发放股利
其他 132,033.76 422,030.98
合计 73,025,197.50 50,668,411.52
(4) 处置可供出售金融资产取得的投资收益
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
可供出售金融资产名称 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
长江证券(股票代码：000783)(注) 206,426,728.39 160,287,582.12
其他 (53,010.38) 347,740.96
合计 206,373,718.01 160,635,323.08
注：本财务报告期内，本公司出售长江证券股票共计 22,500,000 股。
109
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
44、营业外收入
(1) 营业外收入明细：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日 计入当期非经常性损益的金额
止期间 止期间
非流动资产处置利得合计(注 1) 10,884,656.02 442,917.09 10,884,656.02
政府补助 31,026,515.03 22,624,728.76 31,026,515.03
无需支付的赔偿款(注 2) 21,760,917.30 - 21,760,917.30
无法支付的应付账款 3,154,911.13 - 3,154,911.13
对外索赔收入 1,302,366.89 193,622.06 1,302,366.89
其他 5,370,845.99 3,701,111.36 5,370,845.99
合计 73,500,212.36 26,962,379.27 73,500,212.36
注 1： GDL 下属酒店 S.N.C Invest Hotels Saint-Dizier Rennes 于 2016 年 1 月由于市政动迁而关闭，根据
2015 年 12 月当地法院的裁决，GDL 将于 2016 年 11 月收到动迁补偿款 2,172,000.00 欧元，折合人民币
14,499,250.00 元，扣除相关成本后确认营业外收入 446,000.00 欧元，折合人民币 3,238,361.40 元。
注 2：系波兰 Handlowy 银行于 2007 年度就债务抵押物事项向波兰 Szczecin 区法院起诉 GDL 下属相关子
公司，经 Szczecin 区法院一审判决，GDL 下属相关子公司应赔偿损失 20,855,500 波兰兹罗提，GDL 下
属相关子公司计提了预计负债，并于 2012 年 11 月 23 日向上级法院提起申诉。于 2014 年 1 月 22 日，上
级法院判决申诉有效，发回 Szczecin 区法院重新审理。本财务报告期间，波兰 Handlowy 银行作出让步，
GDL 下属相关子公司实际支付赔偿款低于计提的预计负债确认为营业外收入，折合人民币 21,760,917.30
元。
(2) 计入当期损益的政府补助
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
计入当期非经常性损益的金
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
额
止期间 止期间
产业扶持资金 27,615,490.64 14,245,000.00 与收益相关
信息平台扶持基金 1,950,000.00 1,950,000.00 与资产相关
锅炉补贴摊销 8,000.00 8,000.00 与资产相关
动迁补偿款 - 5,414,168.63 与收益相关
其他政府补助 1,453,024.39 1,007,560.13 与收益相关
合计 31,026,515.03 22,624,728.76
110
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
45、营业外支出
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至 计入当期非经常性损益的
项目
2016 年 6 月 30 日止期间 2015 年 6 月 30 日止期间 金额
非流动资产处置损失合计 3,907,744.46 1,578,932.46 3,907,744.46
罚没支出 464,482.13 153,545.88 464,482.13
诉讼支出 3,257,425.78 - 3,257,425.78
其他 5,826,652.11 599,819.02 5,826,652.11
合计 13,456,304.48 2,332,297.36 13,456,304.48
46、所得税费用
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
按税法及相关规定计算的当期所得税 136,923,556.27 82,338,571.83
上期所得税汇算清缴调整 (465,937.78) (18,786.30)
递延所得税 (29,897,665.77) 29,474,675.06
企业增值税 10,285,122.94 4,225,583.12
合计 116,845,075.66 116,020,043.71
所得税费用与会计利润的调节表如下：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
利润总额 420,237,202.39 411,090,009.75
企业增值税抵扣(注) (10,285,122.94) (4,225,583.12)
按 25%的税率计算的所得税费用 102,488,019.86 101,716,106.66
非应税收入的影响 (31,888,009.02) (15,976,282.77)
不可抵扣的成本、费用和损失的影响 2,651,766.92 701,526.33
使用前期未确认递延所得税资产的可抵扣亏损的影响 (87,875.60) (100.76)
本期未确认递延所得税资产的可抵扣暂时性差异或可抵扣
35,047,147.23 20,956,160.15
亏损的影响
子公司适用不同税率的影响 4,090,956.47 4,415,837.28
调整以前期间所得税的影响及其他 (5,742,053.14) (18,786.30)
企业增值税 10,285,122.94 4,225,583.12
所得税费用 116,845,075.66 116,020,043.71
注：根据法国税法规定，企业增值税可以在所得税税前列支。
111
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
47、现金流量表项目注释
(1) 收到的其他与经营活动有关的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
政府补助及征收补偿 31,026,515.03 19,999,374.52
利息收入 26,843,594.03 20,791,968.64
其他 38,374,659.01 16,490,818.13
合计 96,244,768.07 57,282,161.29
(2) 支付的其他与经营活动有关的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
租赁费 598,325,815.67 252,514,963.75
销售费用及管理费用中的其他支付额 436,057,012.92 221,572,157.46
支付的银行手续费 22,098,284.83 11,471,049.22
其他 57,779,111.53 50,186,719.70
合计 1,114,260,224.95 535,744,890.13
(3) 处置子公司及其他营业单位收到的现金净额
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
收回 GDL 部分业务及子公司处置款 - 527,063,409.16
(4) 购买子公司及其他经营单位支付的现金净额
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
收购 Keystone 支付的现金净额(附注六(1)) 6,801,509,255.94 -
收购 Nordic 支付的现金净额(附注六(1)) 138,888,388.73 -
收购 GDL 支付的现金净额 - 2,956,867,734.47
合计(附注五(48)2) 6,940,397,644.67 2,956,867,734.47
112
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
47、现金流量表项目注释 - 续
(5) 支付其他与投资活动有关的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
股权收购定金及预付款(附注(十二)1) 680,000,000.00 -
预计收回股权收购款(附注(六)1) 473,750,000.00 -
收购中介机构费 35,696,851.30 72,852,304.77
合计 1,189,446,851.30 72,852,304.77
(6) 取得借款收到的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
从关联方融入的借款 6,000,000,000.00 4,100,000,000.00
从银行融入的借款 10,920,000,000.00 20,711,718,832.86
合计 16,920,000,000.00 24,811,718,832.86
(7) 收到其他与筹资活动有关的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
收回借款保证金 45,816,400.00 -
质押的定期存款利息收入 19,364,837.12 37,917,044.02
合计 65,181,237.12 37,917,044.02
(8) 偿还债务支付的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
偿还银行借款 612,341,287.62 9,678,205,125.00
偿还关联方借款 6,000,000,000.00 2,100,000,000.00
GDL 偿还借款 - 6,282,055,907.85
合计 6,612,341,287.62 18,060,261,032.85
(9) 支付其他与筹资活动有关的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
为取得借款而质押的定期存款 - 4,723,560,000.00
支付融资租赁费 5,495,020.98 69,625,479.81
合计 5,495,020.98 4,793,185,479.81
113
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
48、现金流量表补充资料
(1) 现金流量表补充资料
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
补充资料 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
1．将净利润调节为经营活动现金流量：
净利润 303,392,126.73 295,069,966.04
加：计提的资产减值准备 14,509,980.72 116,396.90
固定资产折旧 290,898,809.99 200,000,497.42
无形资产摊销 61,993,409.56 18,596,164.92
长期待摊费用摊销 218,966,270.70 91,529,156.92
处置固定资产、无形资产和其他长期资产的损失(收
(6,976,911.56) 1,136,015.37
益)
财务费用 238,633,455.01 104,548,534.61
投资损失(收益) (333,004,292.47) (229,954,968.09)
递延所得税资产减少 8,413,675.59 117,409,147.09
递延所得税负债增加(减少) (38,311,341.36) (31,277,083.68)
存货的减少 9,969,781.87 826,665.29
经营性应收项目的减少(增加) (116,216,413.54) (144,299,851.45)
经营性应付项目的增加(减少) 110,293,293.15 (51,616,945.29)
经营活动产生的现金流量净额 762,561,844.39 372,083,696.05
2．不涉及现金收支的重大投资和筹资活动：
债务转为资本 - -
半年内到期的可转换公司债券 - -
融资租入固定资产 - -
3．现金及现金等价物净变动情况：
现金的期末余额 6,042,467,381.85 3,469,253,448.23
减：现金的期初余额 3,797,129,642.55 3,551,614,901.31
加：现金等价物的期末余额 - -
减：现金等价物的期初余额 - -
现金及现金等价物净增加额 2,245,337,739.30 (82,361,453.08)
(2) 本期支付的取得子公司的现金净额
人民币元
金额
本期发生的企业合并于本年支付的现金或现金等价物
-Keystone 8,081,170,000.00
-Nordic 145,451,600.00
减：购买日子公司持有的现金及现金等价物
-Keystone 1,279,660,744.06
-Nordic 6,563,211.27
取得子公司支付的现金净额 6,940,397,644.67
114
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
48、现金流量表补充资料 - 续
(3) 现金和现金等价物的构成
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
一、现金 6,042,467,381.85 3,797,129,642.55
其中：库存现金 8,583,934.71 7,037,250.23
可随时用于支付的银行存款 6,033,883,447.14 3,790,092,392.32
可随时用于支付的其他货币资金 - -
二、现金等价物 - -
三、期末现金及现金等价物余额 6,042,467,381.85 3,797,129,642.55
49、所有权或使用权受到限制的资产
人民币元
项目 期末账面价值 受限原因
货币资金(附注(五)26(4)) 4,687,687.94 诉讼冻结
货币资金(附注(五)28(注 1)) 1,417,068,000.00 质押
其他非流动资产(附注(五)28(注 1)) 3,306,492,000.00 质押
海路投资净资产(附注(五)28(注 1)) 581,667,479.33 抵押
Keystone 净资产(附注(五)28(注 1)) 2,527,580,789.20 抵押
Keystone 净资产(附注(五)19(注 3)) 592,758,343.72 抵押
固定资产(附注(五)11(4)) 156,463,086.75 抵押
固定资产(附注(五)11(3)) 166,212,362.96 未办妥产权证书
合计 8,752,929,749.90
50、现金流量套期
本集团采用利率互换合同以降低以浮动利率计息的融资租赁款的现金流量风险敞口，即将部分融资租赁
款的浮动利率转换成固定利率。于 2016 年 1 月 1 日至 2016 年 6 月 30 日止期间，本集团将购入的利率互
换合同指定为套期工具，这些利率互换合同与相应的融资租赁条款相同，本集团管理层认为这些利率互
换合同是高度有效的套期工具，并采用比率分析法评价套期有效性。
本集团所签订的利率互换合同的条款与预期交易的条款吻合，主要内容如下：
人民币千元
2016 年 1 月 1 日至
2016 年 6 月 30 日止期间 名义金额 到期日 利率互换条款
利率互换 121,997.25 2025 年 6 月 28 日 Euribor3M+2.56%转换为 1.40%的固定利率
115
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
51、基本每股收益和稀释每股收益的计算过程
计算基本每股收益时，归属于普通股股东的当期净利润为：
人民币元
本期发生额 上期发生额
归属于普通股股东的当期净利润 299,157,333.01 291,508,994.19
其中：归属于持续经营的净利润 299,157,333.01 291,508,994.19
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：
人民币元
本期发生额 上期发生额
期初发行在外的普通股股数 804,517,740.00 804,517,740.00
加：本期发行的普通股加权数 - -
期末发行在外的普通股加权数 804,517,740.00 804,517,740.00
每股收益
人民币元
本期发生额 上期发生额
按归属于母公司股东的净利润计算：
基本每股收益 0.3718 0.3623
稀释每股收益(注) 不适用 不适用
按归属于母公司股东的持续经营净利润计算：
基本每股收益 0.3718 0.3623
稀释每股收益(注) 不适用 不适用
注：本集团无稀释性普通股。
(六) 合并范围的变更
1、非同一控制下企业合并
(1) 本期发生的非同一控制下企业合并
Keystone
于 2015 年 9 月 18 日，本集团与 Keystone 原股东签署了关于收购 Keystone 81.0034%股权的《股份购买
协议》，预估购买价款为人民币 855,492.00 万元。于 2016 年 2 月 26 日，本集团向交易对方支付对价
130,890.89 万美元，折合人民币 855,492.00 万元。
根据有关股权转让协议的约定，在购买日后，上述合并对价中本公司尚需支付的债务金额将根据协议约
定且双方协商确认的最终金额进行调整，本公司将根据最终金额支付或收回相应的款项。
本财务报告期末，有关的协商及确认工作尚在进行过程中。本公司管理层认为，本财务报表中披露的有
关金额代表本公司管理层的最佳估计。根据该最佳估计，合并对价折合人民币 808,117.00 万元，尚需收
回款项为 7,248.41 万美元，按期末汇率折合人民币 48,065.65 万元。
116
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(六) 合并范围的变更 - 续
1、非同一控制下企业合并 - 续
(1) 本期发生的非同一控制下企业合并 - 续
Nordic
于 2015 年 12 月，GDL 与 Nordic 原股东签署了关于收购 Nordic 100%股权的股权转让协议，预估购买价
款为 20,500,000.00 欧元，折合人民币 145,451,600.00 元。于 2016 年 1 月 5 日，上述股权交割完成。
根据有关股权转让协议的约定，在购买日后，上述合并对价中 GDL 尚需支付的债务金额将根据协议约
定且双方协商确认的最终金额进行调整。
本财务报告期末，有关的协商及确认工作尚在进行过程中。GDL 管理层认为，本财务报表中披露的有关
金额代表公司管理层的最佳估计。
人民币元
股权取 购买日至期末
股权取 购买日的 购买日至期末
被购买方名称 股权取得时点 股权取得成本 得比例 购买日 被购买方的
得方式 确定依据 被购买方的收入
(%) 净利润
取得被购买方控
2016 年 支付 2016 年
Keystone 8,081,170,000.00 81.0034 制权的股权交割 1,202,678,320.17 41,428,780.28
2 月 26 日 现金 2 月 26 日
日
取得被购买方控
2016 年 支付 2016 年
Nordic 145,451,600.00 100 制权的股权交割 115,737,179.53 11,486,743.80
1月5日 现金 1月5日
日
(2) 成本及商誉
人民币元
Keystone Nordic
合并成本 8,081,170,000.00 145,451,600.00
减：取得的可辨认净资产公允价值份额 2,436,946,611.31 11,685,794.40
商誉 5,644,223,388.69 133,765,805.60
117
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(六) 合并范围的变更 - 续
1、非同一控制下企业合并 - 续
(3) 被购买方于购买日可辨认资产、负债
人民币元
Keystone(注 1) Nordic (注 2)
购买日公允价值 购买日账面价值 购买日公允价值 购买日账面价值
资产：
货币资金 1,279,660,744.06 1,279,660,744.06 6,563,211.27 6,563,211.27
除货币资金外的其他流动资产 412,442,427.15 412,442,427.15 34,518,229.11 34,518,229.11
可供出售金融资产 400,602,722.55 400,602,722.55 - -
固定资产 232,545,651.15 232,545,651.15 10,331,266.01 10,331,266.01
在建工程 45,389,472.19 42,560,950.19 - -
无形资产 4,071,773,646.21 2,363,098,632.21 709,186.53 709,186.53
长期待摊费用 1,110,984,956.80 1,110,984,956.80 - -
除可供出售金融资产、固定资产、
在建工程、无形资产、长期待摊费 348,675,330.82 348,675,330.82 - -
用外的其他非流动资产
资产小计 7,902,074,950.93 6,190,571,414.93 52,121,892.92 52,121,892.92
负债：
流动负债 3,109,384,722.76 3,109,384,722.76 40,162,450.61 40,162,450.61
非流动负债 1,343,810,834.90 915,934,950.90 273,647.91 273,647.91
负债小计 4,453,195,557.66 4,025,319,673.66 40,436,098.52 40,436,098.52
净资产 3,448,879,393.27 2,165,251,741.27 11,685,794.40 11,685,794.40
减：少数股东权益 1,011,932,781.96 589,172,126.72 - -
取得的净资产 2,436,946,611.31 1,576,079,614.55 11,685,794.40 11,685,794.40
注 1：Keystone 可辨认净资产不存在活跃市场，为确定其公允价值，本集团聘请了独立评估师上海东洲
资产评估有限公司按收益法及资产基础法对 Keystone 可辨认净资产公允价值进行评估。至本财务
报表报出日，相关评估工作尚未全部结束，本集团根据上海东洲资产评估有限公司初步评估结果
确定购买日 Keystone 可辨认净资产公允价值，并将在之后按照最终评估结果进行调整。
注 2：Nordic 可辨认净资产不存在活跃市场，为确定其公允价值，本集团聘请了独立评估师对 Nordic 可
辨认净资产公允价值进行评估。至本财务报表报出日，相关评估工作尚未全部结束，本集团管理
层认为 Nordic 可辨认净资产的公允价值与账面价值接近，因此根据账面价值确认可辨认净资产的
公允价值，并将在之后按照最终评估结果进行调整。
2、其他原因的合并范围变动
本期新设立并纳入合并范围的子公司
人民币元
期末净资产 本期净利润(亏损)
天津锦台酒店管理有限公司 10,000,895.54 895.54
118
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(七) 在其他主体中的权益
1、在子公司中的权益
(1) 企业集团的主要子公司
主要经营地 持股比例(%)
序号 子公司名称 业务性质 取得方式
及注册地 直接 间接
1 餐饮投资 中国 服务 100.00 - 通过设立或投资等方式取得
2 旅馆投资 中国 服务 100.00 - 同一控制下企业合并
3 锦江之星 中国 服务 100.00 - 同一控制下企业合并
4 上海锦卢投资管理有限公司(“锦卢投资”) 中国 服务 100.00 - 通过设立或投资等方式取得
5 时尚之旅 中国 服务 100.00 - 非同一控制下企业合并
6 上海饮食服务成套设备公司(“成套设备”) 中国 贸易 100.00 - 通过设立或投资等方式取得
7 锦江都城 中国 服务 100.00 - 通过设立或投资等方式取得
8 上海锦盘酒店有限公司(“锦盘酒店”) 中国 服务 100.00 - 通过设立或投资等方式取得
9 上海锦江达华宾馆有限公司("达华宾馆") 中国 服务 100.00 - 同一控制下企业合并
10 上海闵行饭店有限公司(“闵行饭店”) 中国 服务 98.25 1.75 通过设立或投资等方式取得
11 上海锦江国际食品餐饮管理有限公司(“锦江食品”)(注 1) 中国 服务 18.00 82.00 通过设立或投资等方式取得
12 上海新亚食品有限公司(“新亚食品”)(注 1) 中国 生产 5.00 95.00 通过设立或投资等方式取得
13 上海新亚食品销售有限公司(注 2) 中国 贸易 - 100.00 通过设立或投资等方式取得
14 上海锦江同乐餐饮管理有限公司(“同乐餐饮")(注 1) 中国 服务 - 51.00 通过设立或投资等方式取得
15 上海锦箸餐饮管理有限公司(注 1) 中国 服务 - 100.00 通过设立或投资等方式取得
16 上海锦亚餐饮管理有限公司("锦亚餐饮")(注 1) 中国 服务 - 100.00 非同一控制下企业合并
17 上海锦祁酒店管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
18 上海锦北投资管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
19 上海锦真投资管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
20 沈阳锦富酒店投资管理有限公司(注 4) 中国 服务 - 55.00 通过设立或投资等方式取得
21 西安锦湖旅馆管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
22 上海锦张酒店管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
23 嘉兴锦湖酒店管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
24 西安锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
25 郑州锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
26 天津锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
27 天津河东区锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
28 沈阳松花江街锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
29 舟山沈家门锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
30 天津锦津旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
31 上海锦浦投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
32 南京沪锦旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
33 昆山锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
34 常州锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
35 西安锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
36 长春锦江之星旅管有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
37 长春锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
38 镇江京口锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
39 武汉锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
40 金华锦旅锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
41 深圳锦旅酒店管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
42 沈阳文化路锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
43 福州锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
44 常州锦宁旅馆投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
45 马鞍山锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
46 合肥锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
47 呼和浩特市锦旅投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
48 昆明沪锦酒店有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
49 常州锦江之星投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
50 西宁锦旅酒店投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
51 青岛锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
52 金广快捷(注 4) 中国 服务 - 100.00 同一控制下企业合并
53 上海锦乐旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
54 宁波锦波旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
55 苏州新区锦狮旅馆有限公司(注 5) 中国 服务 - 60.00 同一控制下企业合并
56 上海锦宏旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
57 无锡锦锡旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
58 北京锦江之星旅馆投资管理有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
59 上海锦海旅馆有限公司(注 5) 中国 服务 - 70.00 同一控制下企业合并
119
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
1、在子公司中的权益 - 续
(1) 企业集团的主要子公司 - 续
主要经营地 持股比例(%)
序号 子公司名称 业务性质 取得方式
及注册地 直接 间接
60 上海锦花旅馆有限公司(注 5) 中国 服务 - 80.00 同一控制下企业合并
61 扬州锦扬旅馆有限公司(注 5) 中国 服务 - 75.00 同一控制下企业合并
62 上海滴水湖锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
63 淮安锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
64 上海锦亚旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
65 杭州锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
66 重庆锦江之星旅馆投资有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
67 成都锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
68 上海锦宁旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
69 上海锦闵旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
70 南昌孺子路锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
71 南昌南京西路锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
72 沈阳锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
73 嘉兴锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
74 南宁锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
75 上海临青宾馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
76 上海锦奉旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
77 天津沪锦旅馆投资有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
78 拉萨锦江之星旅馆有限公司(注 5) 中国 服务 - 100.00 同一控制下企业合并
79 上海豫锦酒店管理有限公司(注 5) 中国 服务 - 60.00 同一控制下企业合并
80 都之华(注 5) 中国 服务 - 100.00 非同一控制下企业合并
81 庐山锦江国际旅馆投资有限公司(注 4) 中国 服务 - 60.00 通过设立或投资等方式取得
82 伊犁锦旅酒店管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
83 上海锦苋酒店管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
84 杭州锦澈投资管理有限公司(注 4) 中国 服务 - 100.00 通过设立或投资等方式取得
85 天津锦台酒店管理有限公司(注 3、4) 中国 服务 - 100.00 通过设立或投资等方式取得
86 上海锦江股份(香港)有限公司(注 6) 香港 投资 - 100.00 通过设立或投资等方式取得
87 海路投资(注 6) 卢森堡 投资 - 100.00 通过设立或投资等方式取得
88 GDL(注 6) 法国 投资 - 100.00 非同一控制下企业合并
89 Star Eco(注 6) 法国 投资 - 100.00 非同一控制下企业合并
90 Louvre Htels Group(注 6、7) 法国 投资 - 100.00 非同一控制下企业合并
91 Keystone(注 8) 开曼群岛 投资 81.0034 - 非同一控制下企业合并
92 七天酒店（深圳）有限公司(注 9) 中国 服务 81.0034 非同一控制下企业合并
93 七天四季酒店（广州）有限公司(注 9) 中国 服务 81.0034 非同一控制下企业合并
94 Plateno Investment Limited(注 9) 开曼群岛 投资 81.0034 非同一控制下企业合并
95 Plateno Group Limited(注 9) 开曼群岛 投资 81.0034 非同一控制下企业合并
96 7 Days Group Holdings Limited(注 9) 开曼群岛 投资 81.0034 非同一控制下企业合并
注 1：系餐饮投资下属子公司。
注 2：系新亚食品下属子公司。
注 3：系本财务报告期间新增子公司。
注 4：系旅馆投资下属子公司。
注 5：系锦江之星下属子公司。
120
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
1、在子公司中的权益 - 续
(1) 企业集团的主要子公司 - 续
注 6：系锦卢投资下属子公司。
注 7：Louvre Htels Group 下属子公司合计 359 家，其中全资子公司 314 家。按注册地划分，有 283 家注
册于法国、14 家注册于波兰、14 家注册于荷兰、12 家注册于英国、11 家注册于德国、8 家注册于
西班牙、其余 17 家注册于其他国家。
注 8：Keystone 下属子公司合计 128 家，其中全资子公司 89 家。按注册地划分，有 85 家注册于中国大
陆境内、有 43 家注册于中国大陆境外。
注 9：系 Keystone 下属子公司。
(2) 重要的非全资子公司
少数股东持股 本期归属于 本期向少数股东 期末少数股东
子公司名称
比例(%) 少数股东的损益 宣告分派的股利 权益余额
上海豫锦酒店管理有限公司 40.00 642,580.11 - 10,358,774.77
苏州新区锦狮旅馆有限公司 40.00 482,780.67 - 6,725,522.09
庐山锦江国际旅馆投资有限公
司 40.00 (293,199.63) - 7,978,262.13
Gerestel Rodez Nancy Aurillac 34.00 122,641.12 - 8,022,148.68
Gestion Hotel Cahors Vitrolles 44.50 476,479.16 - 7,200,085.92
Gestion Htel de St Quentinen
Yvelines 13.00 1,268,589.50 - 6,768,286.27
Gestion Htel Nanterre Paris 92 21.50 965,070.08 - 5,981,136.48
上海锦花旅馆有限公司 20.00 719,134.34 - 5,389,885.24
Keystone 18.9966 8,370,305.21 - 592,758,343.72
121
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
1、在子公司中的权益 - 续
(3) 重要的非全资子公司的重要财务信息
人民币元
2016年6月30日 2015年12月31日
子公司名称
流动资产 非流动资产 资产合计 流动负债 非流动负债 负债合计 流动资产 非流动资产 资产合计 流动负债 非流动负债 负债合计
上海豫锦酒店管理有限公司 45,885,860.21 41,931,287.56 87,817,147.77 29,840,335.99 32,079,874.79 61,920,210.78 17,698,729.03 10,087,728.03 27,786,457.06 3,495,970.41 - 3,495,970.41
苏州新区锦狮旅馆有限公司 7,066,656.06 11,013,907.88 18,080,563.94 1,266,758.75 - 1,266,758.75 5,624,706.51 11,321,810.15 16,946,516.66 1,339,663.13 - 1,339,663.13
庐山锦江国际旅馆投资有限公
4,304,954.24 26,372,256.34 30,677,210.58 10,731,555.26 - 10,731,555.26 15,179,207.86 19,631,679.25 34,810,887.11 14,132,232.73 - 14,132,232.73
司
Gerestel Rodez Nancy Aurillac 15,795,978.31 14,711,121.94 30,507,100.25 3,721,400.90 3,191,144.41 6,912,545.31 14,936,822.56 14,359,471.80 29,296,294.36 3,397,533.97 3,538,579.68 6,936,113.65
Gestion Hotel Cahors Vitrolles 8,556,033.92 16,191,127.82 24,747,161.74 5,684,668.98 2,882,524.40 8,567,193.38 7,442,302.22 16,179,866.34 23,622,168.56 4,863,164.88 3,168,809.48 8,031,974.36
Gestion Htel de St Quentinen
Yvelines
17,953,638.90 78,202,667.75 96,156,306.65 4,410,143.38 39,682,422.73 44,092,566.11 12,691,238.73 77,567,641.60 90,258,880.33 4,018,667.71 39,851,821.93 43,870,489.64
Gestion Htel Nanterre Paris 92 8,885,026.46 52,054,928.43 60,939,954.89 4,597,290.68 28,523,424.78 33,120,715.46 7,295,892.70 51,395,853.44 58,691,746.14 4,169,496.98 28,757,300.23 32,926,797.21
上海锦花旅馆有限公司 10,324,789.21 27,889,558.33 38,214,347.54 11,264,921.38 - 11,264,921.38 5,536,114.09 28,718,472.85 34,254,586.94 10,907,405.17 - 10,907,405.17
Keystone 2,179,063,559.15 5,078,765,542.38 7,257,829,101.53 3,483,756,015.48 623,723,707.64 4,107,479,723.12 - - - - - -
122
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
1、在子公司中的权益 - 续
(3) 重要的非全资子公司的重要财务信息 - 续
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间 2015 年 1 月 1 日至 2015 年 6 月 30 日止期间
子公司名称 经营活动 经营活动
营业收入 净利润 综合收益总额 营业收入 净利润 综合收益总额
现金流量 现金流量
上海豫锦酒店管理有限公司 9,156,129.54 1,606,450.27 1,606,450.27 (24,542,466.06) 9,029,037.34 1,399,425.61 1,399,425.61 2,365,319.89
苏州新区锦狮旅馆有限公司 4,355,211.91 1,206,951.68 1,206,951.68 (4,118,917.32) 4,760,486.62 1,338,372.11 1,338,372.11 1,206,137.31
庐山锦江国际旅馆投资有限公司 157,530.04 (732,999.08) (732,999.08) (791,304.37) - - - -
Gerestel Rodez Nancy Aurillac 6,497,980.92 360,709.17 360,709.17 (610,432.14) 5,991,403.06 219,649.92 (740.22) 57,775.11
Gestion Hotel Cahors Vitrolles 8,961,274.75 1,070,739.69 1,070,739.69 (1,120,250.13) 9,164,740.40 336,909.78 (13,505.95) 695,380.68
Gestion Htel de St Quentinen Yvelines 39,002,505.36 9,758,380.80 9,758,380.80 (4,665,643.41) 11,672,428.76 3,642,333.19 (106,669.76) 5,434,616.82
Gestion Htel Nanterre Paris 92 6,339,423.30 4,488,698.05 4,488,698.05 (4,156,760.62) 8,784,668.61 1,727,857.59 (32,359.54) 4,071,331.67
上海锦花旅馆有限公司 15,855,927.78 3,595,671.70 3,595,671.70 4,297,660.14 15,856,502.74 3,514,218.39 3,514,218.39 3,715,237.53
Keystone 1,202,678,320.17 41,428,780.28 69,510,925.26 305,603,099.49 - - - -
2、在联营企业中的权益
(1) 重要的联营企业
持股比例(%) 对联营企业投资的
联营企业名称 主要经营地 注册地 业务性质
直接 间接 会计处理方法
上海肯德基 中国 上海市杨浦区双辽路 768 号 生产肯德基快餐 42 - 以权益法核算
新亚富丽华 中国 上海市淮海中路 808 号 餐饮业、厨房设备、日用化学品等 41 - 以权益法核算
123
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
2、在联营企业中的权益 - 续
(2) 重要联营企业的主要财务信息
人民币元
2016 年 6 月 30 日/2016 年 1 月 1 日至 2016 2015 年 6 月 30 日/2015 年 1 月 1 日至 2015
年 6 月 30 日止期间 年 6 月 30 日止期间
上海肯德基 新亚富丽华 上海肯德基 新亚富丽华
流动资产 265,964,260.06 75,373,840.36 64,405,015.15 65,672,224.40
其中：现金和现金等价物 87,146,459.46 62,378,015.81 61,776,036.44 53,002,451.64
非流动资产 504,969,374.79 31,576,705.21 504,828,332.96 30,258,519.54
资产合计 770,933,634.85 106,950,545.57 569,233,348.11 95,930,743.94
流动负债 376,585,840.60 40,964,558.56 293,976,751.27 35,592,760.68
非流动负债 41,917,924.80 1,292,267.50 19,041,490.85 579,737.50
负债合计 418,503,765.40 42,256,826.06 313,018,242.12 36,172,498.18
少数股东权益 - - - -
归属于母公司股东权益 352,429,869.45 64,693,719.51 256,215,105.99 59,758,245.76
按持股比例计算的净资产份额 148,020,545.17 26,524,425.00 107,610,344.54 24,500,880.75
对联营企业权益投资的账面价值 148,020,545.23 26,524,424.99 107,610,344.54 24,500,880.75
营业收入 1,469,067,642.84 123,578,048.09 1,348,564,963.78 115,774,148.94
财务费用 (1,341,301.81) 411,590.19 1,848,371.50 397,262.64
所得税费用 35,814,087.55 2,341,030.73 (1,143,677.36) 2,178,489.00
净利润 109,076,779.48 7,023,092.14 33,161,591.83 6,535,466.95
其他综合收益 - - - -
综合收益总额 109,076,779.48 7,023,092.14 33,161,591.83 6,535,466.95
本期收到的来自联营企业的股利 - 4,305,000.00 - 3,731,000.00
(3) 不重要的联营企业的汇总财务信息
人民币元
2016 年 6 月 30 日/2016 年 1 2015 年 6 月 30 日/2015 年 1
月 1 日至 2016 年 6 月 30 日止 月 1 日至 2015 年 6 月 30 日止
期间 期间
联营企业
投资账面价值合计 125,301,780.34 80,854,800.09
下列各项按持股比例计算的合计数
--净利润及综合收益总额 1,858,481.69 1,786,240.90
(八) 与金融工具相关的风险
本集团的主要金融工具包括货币资金、应收款项、应付款项、可供出售金融资产、借款、长期应付款等，
各项金融工具的详细情况说明详见附注(五)。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。
本集团采用敏感性分析技术分析风险变量的合理、可能变化对当期损益或股东权益可能产生的影响。由
于任何风险变量很少孤立的发生变化，而变量之间存在的相关性对某一风险变量的变化的最终影响金额
将产生重大作用，因此下述内容是在假设每一变量的变化是独立的情况下进行的。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(八) 与金融工具相关的风险 - 续
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，使股东及其他权益投资者的利益最大化。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，是指金融工具的公允价值或未来现金流量因外汇汇率变动而发生波动的风险。本公司及中国
大陆境内子公司主要在中国大陆境内经营业务，主要业务活动以人民币计价结算，故大部分交易、资产
和负债以人民币为单位。于 2016 年 6 月 30 日，本公司及中国大陆境内子公司的外币余额主要集中在部
分货币资金及其他应收款，本公司及境内子公司承受外汇风险主要与美元有关，除下表所述资产及负债
为美元余额外，本公司及境内子公司的资产及负债主要为人民币余额。该等外币余额的资产和负债产生
的外汇风险可能对本公司及境内子公司的经营业绩产生影响。本公司及境内子公司密切关注汇率变动对
集团外汇风险的影响。
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
货币资金 305,055,918.59 -
其他应收款 487,114,851.00 -
合计 792,170,769.59 -
本集团中国大陆境外子公司 GDL 主要在欧洲经营业务，主要业务活动以欧元计价结算，故大部分交易、
资产和负债以欧元为单位。于 2016 年 6 月 30 日，GDL 的外币余额主要集中在部分货币资金，承受外汇
风险主要与英镑及波兰兹罗提有关。GDL 密切关注汇率变动对集团外汇风险的影响，但由于外币结算业
务非常有限，GDL 认为目前的外汇风险对于 GDL 的经营影响不重大。
外汇风险敏感性分析
在其他变量不变的情况下，美元汇率可能发生的合理变动对当期损益和所有者权益影响如下：
人民币千元
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间/ 2015 年 1 月 1 日至 2015 年 6 月 30 日止期间/
汇率变动 2016 年 6 月 30 日 2015 年 6 月 30 日
对税前利润的影响 对股东权益的影响 对税前利润的影响 对股东权益的影响
对人民币升值 5% 39,609 29,706 - -
对人民币贬值 5% (39,609) (29,706) - -
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(八) 与金融工具相关的风险 - 续
1、风险管理目标和政策 - 续
1.1 市场风险 - 续
1.1.2.利率风险
利率风险，是指金融工具的公允价值或未来现金流量因市场利率变动而发生波动的风险。本集团面临的
利率风险主要来源于货币资金、借款及应付融资租赁款。
本集团与现金流量变动有关的利率风险主要与浮动利率借款及应付融资租赁款(附注五(29))有关。本集团
的政策是保持这些借款的浮动利率，以消除利率的公允价值变动风险。
利率风险敏感性分析
利率风险敏感性分析基于下述假设：
市场利率变化影响可变利率金融工具的利息收入或费用；
以资产负债表日市场利率采用现金流量折现法计算衍生金融工具及其他金融资产和负债的公允价值
变化。
在上述假设的基础上，在其他变量不变的情况下，利率可能发生的合理变动对 2016 年 1 月 1 日至 2016
年 6 月 30 日止期间及 2015 年 1 月 1 日至 2015 年 6 月 30 日止期间损益和所有者权益的影响如下：
人民币千元
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间/ 2015 年 1 月 1 日至 2015 年 6 月 30 日止期间/
利率变动 2016 年 6 月 30 日 2015 年 6 月 30 日
对税前利润的影响 对股东权益的影响 对税前利润的影响 对股东权益的影响
上升 25 个基点 (40,331) (28,415) (22,361) (14,661)
下降 25 个基点 40,331 28,415 22,361 14,661
1.1.3.其他价格风险
其他价格风险，是指外汇风险和利率风险以外的市场风险。本集团面临的主要其他价格风险包括可供出
售权益工具的公允价值因证券价值的变化而波动的风险。于 2016 年 6 月 30 日，本集团的可供出售权益
工具详见附注(五)9。这些以公允价值计价的资产的其他价格风险可能对本集团的经营业绩和股东权益产
生影响。本集团密切关注证券价格变动对本集团的影响。本集团对证券价值风险进行了如下敏感性分析，
本集团认为目前的证券价值风险对于本集团的经营影响重大。
本集团因持有以公允价值计量的金融资产而面临价格风险。于 2016 年 6 月 30 日，在其他变量不变的情
况下，根据证券价值可能发生的合理变动，有关权益工具价格上升(下降)10%，将会导致集团股东权益增
加(减少)人民币 113,899,164.45 元。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(八) 与金融工具相关的风险 - 续
1、风险管理目标和政策 - 续
1.2 信用风险
于 2016 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以及本集团承担的财务担保，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，以确保对无法回收的
款项计提充分的坏账准备。
本集团关注集中信用风险的控制，采取必要措施避免债权过度集中。于 2016 年 6 月 30 日，本集团并未
面临重大信用集中风险。
本集团的流动资金存放在信用评级较高的银行及财务公司，故流动资金的信用风险较低。
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。本集团管理层对银行借款的使用情况进行监控并确保遵守借款协议。
本财务报告期末，本集团流动负债合计金额超过流动资产合计金额为人民币 9,453,714,175.37 元。本集
团已采取以下措施来降低流动风险：
本集团之最终控股股东锦江国际同意在可预见将来款项到期偿还时提供一切必须之财务支援，以维
持本集团的继续经营。
于 2016 年 7 月 12 日，公司收到中国证券监督管理委员会出具的《关于核准上海锦江国际酒店发展
股份有限公司非公开发行股票的批复》(证监许可[2016]1090 号)，核准公司非公开发行不超过
153,418,700 股人民币普通股(A 股)。本次发行于 2016 年 8 月 2 日正式完成，发行价格为每股人民币
29.45 元。详见附注(十二)2。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(八) 与金融工具相关的风险 - 续
1、风险管理目标和政策 - 续
1.3 流动风险 - 续
综上所述，本集团管理层认为本集团所承担的流动风险已经大为降低，对本集团的经营和财务报表不构
成重大影响。
本集团持有的金融负债按未折现剩余合同义务的到期期限分析如下：
1 年以内 1 年至 5 年 5 年以上 合计
非衍生金融负债：
短期借款 14,597,880,137.17 - - 14,597,880,137.17
应付账款 1,584,854,569.97 - - 1,584,854,569.97
应付股利 450,274.74 - - 450,274.74
其他应付款 836,064,260.37 - - 836,064,260.37
长期应付款及一年内到期的非流动负债 18,787,468.37 75,149,873.48 187,454,805.93 281,392,147.78
长期借款及一年内到期的非流动负债 3,120,994,387.21 10,993,968,012.33 1,305,186,575.36 15,420,148,974.90
上表系根据本集团金融负债可能的最早偿还日的未折现现金流编制，表中同时考虑了本金和利息的现金
流。如果利息流量是基于浮动利率，则未折现金额由报告期末的利率产生，合同到期日基于本集团可能
被要求偿付的最早日。
2、资本管理
本集团通过优化负债与股东权益的结构来管理资本，以确保集团内的主体能够持续经营，并同时最大限
度地增加股东回报。2016 年 1 月 1 日至 2016 年 6 月 30 日止期间本集团的整体策略维持不变。
本集团的资本结构由本集团的净债务和股东权益组成。
本集团并未受制于外部强制性资本管理要求。本集团的管理层定期复核本集团的资本结构。
(九) 公允价值的披露
1、以公允价值计量的资产和负债的期末公允价值
人民币元
2016 年 6 月 30 日公允价值
第一层次 第二层次 第三层次
合计
公允价值计量 公允价值计量 公允价值计量
持续的公允价值计量
可供出售金融资产 1,377,350,477.39 - - 1,377,350,477.39
持续以公允价值计量的资产总额 1,377,350,477.39 - - 1,377,350,477.39
交易性金融负债
其中：衍生金融负债 - 7,731,861.50 - 7,731,861.50
持续以公允价值计量的负债总额 - 7,731,861.50 - 7,731,861.50
2、持续和非持续第一层次公允价值计量项目市价的确定依据
本财务报告期末，除本集团对 Ocean Imagination L.P.的可供出售金融资产的公允价值参考艺龙被
私有化收购的收购价格确定外(详见附注(五)9(2))，本集团其他可供出售金融资产的公允价值参照
上海证券交易所和深圳证券交易所上市股票于 2016 年 6 月 30 日之收盘价确定。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(九) 公允价值的披露 - 续
3、持续第二层次公允价值计量项目，采用的估值技术和重要参数的信息
2016 年 6 月 30 日的公允价值 估值技术 输入值
衍生金融负债 7,731,861.50 现金流量折现法 折现率及远期利率
4、不以公允价值计量的金融资产与金融负债的公允价值信息
本集团流动资产及流动负债中不以公允价值计量的金融资产与金融负债的账面价值接近公允价
值。
(十) 关联方及关联交易
1、本公司的控股公司情况
母公司对本 母公司对本
母公司名称 注册地 业务性质 注册资本 企业的持股 企业的表决
比例(%) 权比例(%)
上海市浦东新区 酒店投资、酒店经营
锦江酒店集团 杨新东路 24 号 316-318 室 和管理及其他 人民币 556,600 万元 50.32 50.32
本公司的母公司情况的说明
锦江酒店集团是一家在中华人民共和国境内由上海新亚(集团)有限公司改制而成的股份有限公司，成立于 1995 年 6 月 6 日，主要从
事酒店、食品等业务。2006 年 12 月 15 日锦江酒店集团股票(证券代码：02006)获准在香港联合交易所有限公司挂牌交易。其母公司
及最终控股股东均为锦江国际。
本公司最终控制方是锦江国际。
2、本公司的子公司情况
子公司的基本情况及相关信息参见附注(七)1。
3、本集团的合营和联营企业情况
本集团无合营企业，本集团的联营企业的基本情况及相关信息参见附注(七)2。
4、本集团的其他关联方情况
关联方名称 与本集团的关系
上海锦江国际酒店(集团)股份有限公司 母公司
上海锦江饭店有限公司 同一母公司
上海锦江国际饭店有限公司 同一母公司
上海龙柏饭店有限公司 同一母公司
上海锦江金门大酒店有限公司 同一母公司
上海虹桥宾馆有限公司 同一母公司
上海市上海宾馆有限公司 同一母公司
上海金沙江大酒店有限公司(“金沙江大酒店”) 同一母公司
上海和平饭店有限公司 同一母公司
武汉锦江国际大酒店有限公司 同一母公司
上海商悦青年会大酒店有限公司(“青年会大酒店”) 同一母公司
上海海仑宾馆有限公司 同一母公司
129
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
4、本集团的其他关联方情况 - 续
关联方名称 与本集团的关系
上海建国宾馆有限公司 同一母公司
上海白玉兰宾馆有限公司(“白玉兰宾馆”) 同一母公司
锦江国际集团财务有限责任公司 同一母公司
上海新亚广场长城酒店有限公司 同一母公司
上海锦江国际酒店物品有限公司 同一母公司
锦江国际酒店管理有限公司 同一母公司
上海南华亭酒店有限公司(“南华亭酒店”) 同一母公司
上海锦江旅游有限公司 同一母公司
上海锦江国际旅游股份有限公司 同一母公司
上海锦江国际实业投资股份有限公司新锦江商旅酒店 同一母公司
西安西京国际饭店有限公司 同一母公司
上海锦江汤臣大酒店有限公司 母公司之合营公司
上海锦江国际理诺士酒店管理专修学院 母公司之联营公司
上海扬子江大酒店有限公司 母公司之联营公司
(以下将锦江酒店集团同上述公司统称为“锦江酒店集团及其下属企业”)
上海龙申商务服务有限公司 同一最终控制方
上海新亚(集团)经贸有限公司 同一最终控制方
上海食品集团酒店管理有限公司胶州度假旅馆 同一最终控制方
上海锦江广告装饰公司 同一最终控制方
上海锦江乐园 同一最终控制方
上海市食品集团公司晋元大酒店 同一最终控制方
上海锦江物业管理公司 同一最终控股方
上海庚杰投资管理有限公司 同一最终控制方
香港锦江旅游有限公司 同一最终控制方
上海东锦江大酒店有限公司 同一最终控制方
上海牛羊肉公司 同一最终控制方
上海锦江国际投资管理有限公司 同一最终控制方
锦江国际商务电子有限公司 同一最终控制方
上海华亭宾馆有限公司 同一最终控制方
上海新苑宾馆 同一最终控制方
上海沪南蛋品公司 同一最终控制方
汇通百达网络科技(上海)有限公司 同一最终控制方
(以下将锦江国际同上述公司统称为“锦江国际及其下属企业”)
Fortune News International Limited Keystone 的关键管理人员控制的企业
广州瑞卡租车有限公司 Keystone 的关键管理人员控制的企业
瑞致（广州）租车有限公司 Keystone 的关键管理人员控制的企业
深圳市聚点天下科技有限公司 Keystone 的关键管理人员控制的企业
广州市百达屋信息科技有限公司 Keystone 的关键管理人员控制的企业
(以下将上述公司统称为“Keystone 之关联企业”)
130
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况
(1) 购销商品、提供和接受劳务的关联交易
采购商品/接受劳务情况表：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至 2015
关联方 关联交易内容 2016 年 6 月 30 日 年 6 月 30 日
止期间 止期间
1.采购
锦江酒店集团及其下属企业 采购酒店物品、食品 342,257.87 529,322.61
锦江国际及其下属企业 采购酒店物品、食品 15,342.00 441,100.00
小计 357,599.87 970,422.61
2.接受劳务
锦江国际及其下属企业 会员积分服务费用 1,282,717.79 1,142,925.06
小计 1,282,717.79 1,142,925.06
锦江国际及其下属企业 订房服务费 318,333.48 -
小计 318,333.48 -
出售商品/提供劳务情况表：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
关联方 关联交易内容 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
1.管理费收入
锦江酒店集团及其下属企业 中国大陆境内有限服务型酒店管理费收入 526,409.31 570,224.25
锦江国际及其下属企业 中国大陆境内有限服务型酒店管理费收入 380,222.15 358,078.46
小计 906,631.46 928,302.71
2.订房渠道费收入
锦江酒店集团及其下属企业 中国大陆境内有限服务型酒店订房渠道费收入 103,260.57 234,997.00
锦江国际及其下属企业 中国大陆境内有限服务型酒店订房渠道费收入 89,863.34 140,352.00
小计 193,123.91 375,349.00
3.积分收入
锦江酒店集团及其下属企业 中国大陆境内有限服务型酒店积分收入 18,016.02 -
锦江国际及其下属企业 中国大陆境内有限服务型酒店积分收入 19,157.72 44,203.40
小计 37,173.74 44,203.40
4.销售酒店物品及食品收入
锦江酒店集团及其下属企业 中国大陆境内有限服务型酒店销售物品 68,586.44 177,874.65
锦江国际及其下属企业 中国大陆境内有限服务型酒店销售物品 112,701.70 1,463.58
小计 181,288.14 179,338.23
锦江酒店集团及其下属企业 销售食品 1,019,622.94 594,090.72
锦江国际及其下属企业 销售食品 69,763.40 54,073.16
小计 1,089,386.34 648,163.88
131
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(2) 关联租赁情况
本集团作为出租方：
人民币元
承租方名称 租赁资产种类 本期确认的租赁收入 上期确认的租赁收入
上海锦江广告装饰公司 广告位 - 283,332.60
上海锦江国际理诺士酒店管理专修学院 办公区域 112,190.48 114,000.00
小计 112,190.48 397,332.60
本集团作为承租方：
人民币元
出租方名称 租赁资产种类 本期确认的租赁费 上期确认的租赁费
上海庚杰投资管理有限公司 经营区域及办公区域 5,314,285.71 5,400,000.00
金沙江大酒店(注) 经营区域 5,038,607.22 5,292,000.00
南华亭酒店(注) 经营区域 4,089,584.90 4,284,000.00
白玉兰宾馆(注) 经营区域 4,017,495.30 4,452,000.00
上海锦江饭店有限公司 餐厅及员工楼 1,527,892.57 1,552,536.00
锦江国际 办公区域及经营区域 1,230,777.13 1,382,916.00
上海新亚广场长城酒店有限公司 恒丰店销售店铺 - 781,087.01
上海东锦江大酒店有限公司 办公区域 299,789.00 387,996.00
上海锦江乐园 经营区域 285,033.66 289,630.95
上海锦江物业管理公司 办公区域及海宁店销售店铺 331,307.92 336,651.60
武汉锦江国际大酒店有限公司 餐厅 206,907.93 273,428.34
小计 22,341,681.34 24,432,245.90
注： 有关本公司与锦江酒店集团子公司南华亭酒店、金沙江大酒店及白玉兰宾馆的租赁及与锦江酒店集
团及其子公司青年会大酒店的受托经营的详情参见附注(十)5(3)。
(3) 关联受托经营及租赁情况
于 2013 年 3 月 29 日，本公司与锦江酒店集团签署了《委托经营合同》，本公司受托经营锦江酒店集团下
属的组成部分锦江酒店集团新城饭店分公司及锦江酒店集团新亚大酒店分公司(以下称为“受托经营酒
店”)。受托经营期限为 15 年，自 2013 年 4 月 1 日至 2028 年 3 月 31 日止，且本公司享有委托期限届满
后的续期选择权，续期不少于 5 年。本公司在上述 15 年的受托经营期限内，每年向锦江酒店集团支付固
定金额的受托经营业务费用，同时，为了经营需要，本公司借用受托经营酒店于 2013 年 3 月 31 日在册
的合格从业人员，并每年向锦江酒店集团支付有关人员的劳动报酬及其社会保险费等费用。除上述费用
外的受托经营资产剩余收益或亏损全部归本公司享有或承担。此外，上述受托经营两家分公司在 2013
年 4 月 1 日前形成的原有债权债务仍由锦江酒店集团继续承担。
于 2013 年 3 月 29 日，本公司与南华亭酒店、金沙江大酒店及白玉兰宾馆分别签署了《租赁合同》，本公
司租赁南华亭酒店、金沙江大酒店及白玉兰宾馆所拥有的酒店物业、场地及附属设施(以下统称为“租入
酒店”)。租赁期限为 15 年，自 2013 年 4 月 1 日至 2028 年 3 月 31 日止，且本公司享有租赁期限届满后
的续期选择权，续期不少于 5 年。本公司在上述 15 年的租赁期限内，每年向南华亭酒店、金沙江大酒店
及白玉兰宾馆支付固定金额的相关租赁费用。同时，为了经营需要，本公司借用租入酒店于 2013 年 3
月 31 日在册的合格从业人员，并每年向南华亭酒店、金沙江大酒店及白玉兰宾馆支付有关人员的劳动报
酬及其社会保险费等费用。此外，上述南华亭酒店、金沙江大酒店及白玉兰宾馆在 2013 年 4 月 1 日前形
成的原有债权债务仍由其分别继续承担。
132
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(3) 关联受托经营及租赁情况 - 续
上述受托经营酒店及租入酒店自 2013 年 4 月 1 日起的经营成果和现金流量已纳入本公司的利润表和现金
流量表及本集团的合并利润表和合并现金流量表。上述受托经营酒店及租入酒店自 2013 年 4 月 1 日起经
营产生的资产、负债已纳入本公司的资产负债表及本集团的合并资产负债表。
于 2013 年 12 月 30 日，本公司与青年会大酒店签署了《委托经营合同》，本公司受托经营青年会大酒店，
受托经营期限为 14 年，自 2014 年 1 月 1 日至 2027 年 12 月 31 日止，委托期限届满前六个月，如本公司
有意对委托期限续期，经与青年会大酒店、上海基督教青年会进行协商达成共识后可按约定对委托期限
续期，青年会大酒店应予以配合。在上述受托经营期限内，本公司每年向青年会大酒店支付受托经营业
务费用，同时，为了经营需要，本公司借用青年会大酒店截至 2013 年 12 月 31 日在册的原有合格从业人
员，并每年向青年会大酒店支付有关人员的劳动报酬及其社会保险费等费用，并一次性买断受托经营酒
店拥有的以 2013 年 12 月 31 日的账面价值为计价基础的存货共计人民币 2,447.23 元。此外，青年会大酒
店在 2013 年 12 月 31 日前形成的原有债权债务仍由其继续承担。本公司设立了上海锦江国际酒店发展股
份有限公司青年会宾馆分公司(“青年会宾馆”)以核算受托经营青年会大酒店后发生的业务。青年会宾
馆自 2014 年度的经营成果和现金流量已纳入本公司的利润表和现金流量表及本集团的合并利润表和合
并现金流量表。青年会宾馆自 2014 年 1 月 1 日起经营产生的资产、负债已纳入本公司的资产负债表及本
集团的合并资产负债表。
于本期，本公司作为上述酒店的受托经营方或承租方，相关关联受托经营业务费用/租赁费用及支付的租
用人员的劳动报酬及其社会保险费等费用情况如下：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
委托经营方/出租方名称 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
关联受托经营业务费用/租赁费
锦江酒店集团 14,820,800.00 15,072,000.00
青年会大酒店 5,162,500.00 5,250,000.00
金沙江大酒店 5,038,607.22 5,292,000.00
南华亭酒店 4,089,584.90 4,284,000.00
白玉兰宾馆 4,017,495.30 4,452,000.00
合计 33,128,987.42 34,350,000.00
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
支付的租用人员的劳动报酬及其社会保险费等费用 27,009,970.34 15,289,461.81
133
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(4) 关联方资金拆借情况
人民币元
关联方 拆借金额 起始日 到期日 说明
拆入
财务公司 100,000,000.00 2015 年 10 月 20 日 2016 年 10 月 19 日 信用借款
财务公司 200,000,000.00 2015 年 12 月 21 日 2016 年 12 月 20 日 信用借款
财务公司 400,000,000.00 2015 年 12 月 21 日 2016 年 12 月 20 日 信用借款
财务公司 200,000,000.00 2016 年 2 月 18 日 2017 年 2 月 17 日 信用借款
财务公司 100,000,000.00 2015 年 8 月 4 日 2016 年 4 月 29 日 信用借款
财务公司 100,000,000.00 2015 年 10 月 20 日 2016 年 4 月 29 日 信用借款
财务公司 400,000,000.00 2016 年 1 月 19 日 2016 年 1 月 19 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 19 日 2016 年 1 月 19 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 19 日 2016 年 1 月 19 日 信用借款
财务公司 100,000,000.00 2016 年 1 月 19 日 2016 年 1 月 19 日 信用借款
财务公司 400,000,000.00 2016 年 1 月 20 日 2016 年 1 月 20 日 信用借款
财务公司 100,000,000.00 2016 年 1 月 20 日 2016 年 1 月 20 日 信用借款
财务公司 400,000,000.00 2016 年 1 月 21 日 2016 年 1 月 21 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 21 日 2016 年 1 月 21 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 21 日 2016 年 1 月 21 日 信用借款
财务公司 100,000,000.00 2016 年 1 月 21 日 2016 年 1 月 21 日 信用借款
财务公司 180,000,000.00 2016 年 1 月 26 日 2016 年 1 月 26 日 信用借款
财务公司 400,000,000.00 2016 年 1 月 26 日 2016 年 1 月 26 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 26 日 2016 年 1 月 26 日 信用借款
财务公司 100,000,000.00 2016 年 2 月 18 日 2016 年 5 月 3 日 信用借款
财务公司 120,000,000.00 2016 年 4 月 29 日 2016 年 4 月 29 日 信用借款
财务公司 200,000,000.00 2016 年 4 月 29 日 2016 年 4 月 29 日 信用借款
财务公司 200,000,000.00 2016 年 4 月 29 日 2016 年 4 月 29 日 信用借款
财务公司 100,000,000.00 2016 年 4 月 29 日 2016 年 4 月 29 日 信用借款
财务公司 100,000,000.00 2016 年 5 月 3 日 2016 年 5 月 3 日 信用借款
财务公司 400,000,000.00 2016 年 5 月 3 日 2016 年 5 月 3 日 信用借款
财务公司 400,000,000.00 2016 年 6 月 27 日 2016 年 6 月 27 日 信用借款
财务公司 200,000,000.00 2016 年 6 月 27 日 2016 年 6 月 27 日 信用借款
财务公司 200,000,000.00 2016 年 6 月 27 日 2016 年 6 月 27 日 信用借款
财务公司 100,000,000.00 2016 年 6 月 27 日 2016 年 6 月 27 日 信用借款
财务公司 400,000,000.00 2016 年 2 月 2 日 2016 年 2 月 18 日 信用借款
财务公司 200,000,000.00 2016 年 3 月 22 日 2016 年 3 月 23 日 信用借款
小计 6,900,000,000.00
拆出
新锦酒店管理 9,000,000.00 2015 年 11 月 17 日 2017 年 11 月 16 日 委托贷款
小计 9,000,000.00
本集团与关联方之间资金拆借产生的利息支出列示如下：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
利息支出 18,346,346.36 54,813,250.67
134
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(4) 关联方资金拆借情况 - 续
本集团将部分结算资金或闲置资金存入财务公司，期末余额及本期交易额列示如下：
人民币元
财务公司 2016 年 6 月 30 日 2015 年 12 月 31 日
期末存款余额 1,138,096,439.75 633,744,162.73
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
财务公司 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
报告期内累计存入财务公司的存款资金 4,790,560,697.54 18,614,783,090.18
报告期内累计从财务公司取出的存款资金 4,286,208,420.52 18,958,328,882.27
利息收入 4,737,766.59 6,796,196.06
(5) 本财务报告期内本集团无关联方资产转让以及债务重组。
(6) 根据公司与 Keystone 少数股东签署的股东协议，Keystone 少数股东可以在将来一定期间内将其持有
的全部或部分 Keystone 股权以按照一定方法计算的价格出售给本公司 (“强售权”)。于 2016 年 3
月，本公司与锦江国际约定 Keystone 少数股东实际出售股权时，由锦江国际或其他相关方购买相关
股权。
(7) 本财务报告期内本集团无其他关联交易。
6、关联方应收应付款项
(1) 应收项目
人民币元
项目名称 关联方 2016 年 6 月 30 日 2015 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
应收账款 锦江酒店集团及其下属企业 1,529,148.43 - 797,980.16 -
应收账款 锦江国际及其下属企业 2,425,380.78 - 1,491,446.00 -
小计 3,954,529.21 - 2,289,426.16 -
其他应收款 锦江国际及其下属企业 1,587,609.61 - 2,643,376.76 -
其他应收款 锦江酒店集团及其下属企业 1,079,848.89 - 2,024,925.58 -
其他应收款 GDL 之联营企业 10,951,875.00 - 10,799,175.72 -
其他应收款 Keystone 之关联企业 12,424,700.09 -
小计 26,044,033.59 - 15,467,478.06 -
预付款项 锦江国际及其下属企业 2,617,500.00 - 237,130.86 -
小计 2,617,500.00 - 237,130.86 -
应收利息 锦江酒店集团及其下属企业 7,480,000.00 - 5,174,805.84 -
小计 7,480,000.00 - 5,174,805.84 -
135
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
6、关联方应收应付款项 - 续
(2) 应付项目
人民币元
项目名称 关联方 2016 年 6 月 30 日 2015 年 12 月 31 日
应付账款 锦江国际及其下属企业 5,870,120.95 10,238,012.27
应付账款 锦江酒店集团及其下属企业 132,858.04 247,801.78
小计 6,002,978.99 10,485,814.05
其他应付款 锦江国际及其下属企业 1,195,230.24 1,652,074.39
其他应付款 锦江酒店集团及其下属企业 3,252,704.94 2,640,078.90
小计 4,447,935.18 4,292,153.29
预收款项 Keystone 之关联企业 826,556.08 -
小计 826,556.08 -
应付利息 锦江酒店集团及其下属企业 345,110.66 938,512.66
小计 345,110.66 938,512.66
(十一) 承诺及或有事项
1、重要承诺事项
(1) 资本承诺
人民币千元
2016 年 6 月 30 日 2015 年 12 月 31 日
已签约但尚未于财务报表中确认的
-购建长期资产承诺 215,260 117,524
-对外投资承诺 1,069,600 8,554,920
合计 1,284,860 8,672,444
(2) 经营租赁承诺
至资产负债表日止，本集团对外签订的不可撤销的经营租赁合约情况如下：
人民币千元
2016 年 6 月 30 日 2015 年 12 月 31 日
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 1,245,429 567,704
资产负债表日后第 2 年 1,275,314 603,346
资产负债表日后第 3 年 1,176,103 604,108
以后年度 7,042,440 5,148,954
合计 10,739,286 6,924,112
2、前期承诺履行情况
本财务报告期内，本集团之资本承诺及经营租赁承诺已按照之前承诺履行。
3、或有事项
于本财务报告期末，本集团并无重大的或有事项。
136
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十二) 资产负债表日后事项
1、 于 2016 年 4 月 28 日，本集团与黄德满先生及深圳市维也纳之星酒店管理有限公司签署了关于分别
收购维也纳酒店有限公司(“维也纳”)以及深圳市百岁村餐饮连锁有限公司(“百岁村”)80%股权的
《股份购买协议》。于 2016 年 5 月 3 日，本集团向交易对方支付人民币 6.8 亿元股权收购定金及预付
款。于 2016 年 7 月 4 日，本集团支付股权收购款人民币 6.56 亿元，于 2016 年 7 月 21 日，本集团支
付股权收购款人民币 2.38 亿元。上述股权收购款可能会根据《股份购买协议》约定的价格调整机制
而相应调整。于 2016 年 7 月 1 日，本集团已通过股权转让方式受让维也纳及百岁村 80%股权，正式
成为维也纳及百岁村的控股股东。
2、 于 2016 年 7 月 12 日，公司收到中国证监会证券监督管理委员会出具的《关于核准上海锦江国际酒
店发展股份有限公司非公开发行股票的批复》(证监许可[2016]1090 号)，核准公司非公开发行不超过
153,418,700 股人民币普通股(A 股)。本次发行实际向锦江酒店集团发行 77,196,290 股、弘毅投资基
金发行 20,325,976 股、上海国盛集团投资有限公司发行 15,244,482 股、中国长城资产管理公司发行
15,244,482 股、华安未来资产管理(上海)有限公司发行 15,244,482 股、上海国际集团资产管理有限公
司发行 10,162,988 股，发行价格为每股人民币 29.45 元。于 2016 年 8 月 2 日，本次发行的股份登记
相关手续在中国证券登记结算有限责任公司上海分公司办理完成。
(十三) 分部报告
根据本集团的内部组织结构、管理要求及内部报告制度，本集团的经营业务划分为 5 个经营分部，本集
团的管理层定期评价这些分部的经营成果，以决定向其分配资源及评价其业绩。在经营分部的基础上本
集团确定了 5 个报告分部，首先，根据公司的业务性质分为“中国大陆境内有限服务型酒店营运及管理
业务”、“中国大陆境外有限服务型酒店营运及管理业务”、“食品及餐饮业务”及“其他”。其次，“中国
大陆境内有限服务型酒店营运及管理业务”根据品牌进一步分为“中国大陆境内锦江都城有限服务型酒
店营运及管理业务”及“中国大陆境内铂涛集团有限服务型酒店营运及管理业务”。本集团各个报告分部
提供的主要产品及劳务分别为境内锦江都城酒店服务业务、境内铂涛集团酒店服务业务、境外酒店服务
业务、餐饮服务业务及其他业务。
分部报告信息根据各分部向管理层报告时采用的会计政策及计量标准披露，这些计量基础与编制财务报
表时的会计与计量基础保持一致。
分部间转移价格参照市场价格确定，间接归属于各分部的费用按照收入比例在分部之间进行分配。
137
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十三) 分部报告 - 续
1、分部报告信息
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间相关信息如下：
中国大陆境内 中国大陆境内
中国大陆境外
锦江都城 铂涛集团
有限服务型 食品及 分部间相互抵
有限服务型 有限服务型 其他 合计
酒店营运及 餐饮业务 减
酒店营运及 酒店营运及
管理业务
管理业务 管理业务
分部账面金额
营业收入
对外交易收入 1,331,647,358.58 1,202,678,320.17 1,712,732,867.08 121,007,908.32 114,631.11 - 4,368,181,085.26
分部间交易收入 275,000.00 - - 2,463,113.37 727,108.62 (3,465,221.99) -
分部营业收入合计 1,331,922,358.58 1,202,678,320.17 1,712,732,867.08 123,471,021.69 841,739.73 (3,465,221.99) 4,368,181,085.26
营业成本
对外交易成本 93,324,120.47 149,057,148.07 131,689,793.90 60,014,967.58 10,296.02 - 434,096,326.04
分部间交易成本 - - - 1,633,082.07 580,180.18 (2,213,262.25) -
分部营业成本合计 93,324,120.47 149,057,148.07 131,689,793.90 61,648,049.65 590,476.20 (2,213,262.25) 434,096,326.04
减：营业税金及附加 47,129,555.01 31,483,066.83 - 4,625,600.15 159,134.64 - 83,397,356.63
销售费用 777,133,387.30 800,555,541.65 968,303,454.24 34,675,945.36 - (275,000.00) 2,580,393,328.55
管理费用 318,739,223.42 125,975,614.50 424,078,283.51 38,293,774.83 31,776,829.50 (976,959.74) 937,886,766.02
财务费用 18,355,650.10 20,470,998.34 87,922,544.18 312,780.20 104,069,177.88 (1,613,076.23) 229,518,074.47
资产减值损失 653,890.78 13,485,259.97 414,261.57 (43,431.60) - - 14,509,980.72
加:公允价值变动损益 - - - - - - -
投资收益 1,024,831.17 1,488,029.40 4,026,440.17 92,287,558.52 235,790,509.44 (1,613,076.23) 333,004,292.47
分部账面营业利润 77,611,362.67 63,138,720.21 104,350,969.85 76,245,861.62 100,036,630.95 - 421,383,545.30
营业外收入 17,391,911.31 8,816,198.51 40,287,892.76 3,569,621.14 11,167,447.14 - 81,233,070.86
营业外支出 846,425.87 6,909,944.96 5,464,123.28 214,796.96 21,013.41 - 13,456,304.48
分部账面利润总额 94,156,848.11 65,044,973.76 139,174,739.33 79,600,685.80 111,183,064.68 - 489,160,311.68
所得税 28,137,963.54 23,616,193.48 62,003,072.21 1,353,265.78 22,737,087.19 - 137,847,582.20
分部账面净利润 66,018,884.57 41,428,780.28 77,171,667.12 78,247,420.02 88,445,977.49 - 351,312,729.48
减：收购日被收购方可辨认净资
产公允价值超过账面价值部分 4,536,868.06 17,157,617.37 26,226,117.32 - - - 47,920,602.75
的摊销(注)
净利润 61,482,016.51 24,271,162.91 50,945,549.80 78,247,420.02 88,445,977.49 - 303,392,126.73
少数股东损益 1,672,203.70 1,457,595.65 1,780,030.55 (675,036.18) - - 4,234,793.72
归属于母公司所有者的净利润 59,809,812.81 22,813,567.26 49,165,519.25 78,922,456.20 88,445,977.49 - 299,157,333.01
资产总额 5,933,064,456.79 13,697,395,017.75 12,808,014,525.31 283,874,092.04 10,830,338,514.27 (650,378,590.22) 42,902,308,015.94
其中：分部账面资产 5,462,100,314.66 6,594,924,360.02 5,942,084,225.31 107,225,700.66 10,828,343,178.11 (650,378,590.22) 28,284,299,188.54
分部账面长期股权投资 1,381,601.92 27,887,833.65 91,933,587.45 176,648,391.38 1,995,336.16 - 299,846,750.56
收购日被收购方可辨认
资产公允价值超过账面 417,796,737.00 1,430,359,435.39 2,343,919,737.33 - - - 4,192,075,909.72
价值的摊余金额(注)
商誉 51,785,803.21 5,644,223,388.69 4,430,076,975.22 - - - 10,126,086,167.12
负债总额 2,020,867,484.42 4,529,636,401.33 12,043,205,946.80 108,542,346.46 15,399,505,687.81 (391,223,044.23) 33,710,534,822.59
其中：分部账面负债 1,916,418,300.17 4,107,479,723.12 11,236,194,381.20 108,542,346.46 15,399,505,687.81 (391,223,044.23) 32,376,917,394.53
收购日被收购方可辨认
负债公允价值超过账面 104,449,184.25 422,156,678.21 807,011,565.60 - - - 1,333,617,428.06
价值的摊余金额(注)
补充信息：
折旧 107,018,849.99 19,930,291.55 161,394,698.18 2,182,521.29 372,448.98 - 290,898,809.99
摊销 101,403,641.39 159,064,685.21 18,967,521.00 1,368,157.38 155,675.28 - 280,959,680.26
利息收入 2,829,661.60 4,332,968.08 645,201.06 147,420.86 107,858,377.92 - 115,813,629.52
利息支出 13,622,721.14 25,104,380.27 73,209,868.47 267,650.92 218,483,743.69 (1,613,076.23) 329,075,288.26
当期确认(转回)的减值损失 653,890.78 13,485,259.97 414,261.57 (43,431.60) - - 14,509,980.72
采用权益法核算的长期股权投
47,805.85 (1,392,520.73) 4,107,782.56 47,787,129.17 - - 50,550,196.85
资确认的投资收益(损失)
采用权益法核算的长期股权投
1,381,601.92 27,887,833.65 91,933,587.45 176,648,391.38 1,995,336.16 - 299,846,750.56
资金额
长期股权投资以外的非流动资
5,131,575,760.22 11,474,331,324.39 11,192,983,490.25 42,038,398.30 5,397,153,823.90 (278,966,435.99) 32,959,116,361.07
产
资本性支出 229,843,806.52 22,688,561.46 127,498,120.08 1,172,476.45 - - 381,202,964.51
其中：在建工程支出 213,056,430.77 15,934,411.49 88,344,505.98 902,197.28 - - 318,237,545.52
购置固定资产支出 16,517,597.30 5,058,624.84 38,244,335.30 120,401.09 - - 59,940,958.53
购置无形资产支出 27,060.00 524,396.36 754,330.47 - - - 1,305,786.83
购置长期待摊费用支出 242,718.45 1,171,128.77 154,948.33 149,878.08 - - 1,718,673.63
注：系本集团非同一控制下收购各分部或各分部非同一控制下收购子公司时可辨认资产及负债公允价值
超过账面价值在本财务报告期间的摊销金额及本财务报告期末的摊余金额。
138
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十三) 分部报告 - 续
1、分部报告信息 - 续
2015 年 1 月 1 日至 2015 年 6 月 30 日止期间相关信息如下：
人民币元
中国大陆境内
中国大陆境外
锦江都城
有限服务型
有限服务型 食品及餐饮业务 其他 分部间相互抵减 合计
酒店营运及
酒店营运及
管理业务
管理业务
分部账面金额
营业收入
对外交易收入 1,297,475,755.12 1,066,923,598.25 124,798,512.59 131,180.00 - 2,489,329,045.96
分部间交易收入 372,900.00 2,689,093.11 600,000.00 (3,661,993.11) -
分部营业收入合计 1,297,848,655.12 1,066,923,598.25 127,487,605.70 731,180.00 (3,661,993.11) 2,489,329,045.96
营业成本
对外交易成本 84,149,936.24 81,432,390.19 59,422,510.00 - - 225,004,836.43
分部间交易成本 - - 1,709,521.12 600,000.00 (2,309,521.12) -
分部营业成本合计 84,149,936.24 81,432,390.19 61,132,031.12 600,000.00 (2,309,521.12) 225,004,836.43
减：营业税金及附加 66,106,383.48 - 6,875,690.63 33,900.00 - 73,015,974.11
销售费用 742,559,552.53 532,080,185.73 41,991,093.54 171,991.61 - 1,316,802,823.41
管理费用 292,685,283.31 269,987,994.91 34,498,895.67 17,881,412.29 (656,790.99) 614,396,795.19
财务费用 17,540,682.51 53,698,323.35 62,553.15 9,888,118.83 (3,997,623.08) 77,192,054.76
资产减值损失 1,014,545.33 (857,029.43) (41,119.00) - - 116,396.90
加:公允价值变动损益 - - - - - -
投资收益 (331,762.24) 8,166,429.23 44,392,404.00 181,729,329.05 (4,001,431.95) 229,954,968.09
分部账面营业利润 93,460,509.48 138,748,162.73 27,360,864.59 153,885,086.32 (699,489.87) 412,755,133.25
营业外收入 19,178,095.71 2,245,040.45 1,685,476.96 3,853,766.15 - 26,962,379.27
营业外支出 1,084,918.48 1,198,116.57 49,262.31 - - 2,332,297.36
分部账面利润总额 111,553,686.71 139,795,086.61 28,997,079.24 157,738,852.47 (699,489.87) 437,385,215.16
所得税 33,011,191.56 54,711,293.71 772,859.54 36,007,702.58 - 124,503,047.39
分部账面净利润 78,542,495.15 85,083,792.90 28,224,219.70 121,731,149.89 (699,489.87) 312,882,167.77
减：收购日被收购方可辨认净资
产公允价值超过账面价值部分
的摊销 4,536,868.06 13,275,333.67 - - - 17,812,201.73
净利润 74,005,627.09 71,808,459.23 28,224,219.70 121,731,149.89 (699,489.87) 295,069,966.04
少数股东损益 1,799,191.52 2,145,130.26 (383,349.93) - - 3,560,971.85
归属于母公司所有者的净利润 72,206,435.57 69,663,328.97 28,607,569.63 121,731,149.89 (699,489.87) 291,508,994.19
资产总额 5,991,603,143.19 11,755,664,797.28 99,298,532.47 9,651,281,818.67 (748,185,605.92) 26,749,662,685.69
其中：分部账面资产 5,507,695,479.53 5,383,042,023.22 95,248,560.96 9,517,436,219.84 (748,185,605.92) 19,755,236,677.63
分部账面长期股权投资 2,226,808.65 72,843,646.39 4,049,971.51 133,845,598.83 - 212,966,025.38
收购日被收购方可辨认
资产公允价值超过账面
价值的摊余金额 429,895,051.80 2,316,926,082.28 - - - 2,746,821,134.08
商誉 51,785,803.21 3,982,853,045.39 - - - 4,034,638,848.60
负债总额 2,175,056,251.57 11,166,149,519.67 87,860,481.31 5,465,382,898.45 (650,550,861.95) 18,243,898,289.05
其中：分部账面负债 2,067,582,488.62 10,368,431,869.54 87,860,481.31 5,465,382,898.45 (650,550,861.95) 17,338,706,875.97
收购日被收购方可辨认
负债公允价值超过账面
价值的摊余金额 107,473,762.95 797,717,650.13 - - - 905,191,413.08
补充信息：
折旧 104,430,441.71 92,515,906.56 2,735,272.53 318,876.62 - 200,000,497.42
摊销 93,432,869.44 14,970,954.08 1,484,753.72 236,744.60 - 110,125,321.84
利息收入 6,818,172.56 2,324,362.99 187,128.62 88,793,646.90 - 98,123,311.07
利息支出 16,709,809.96 52,537,265.05 34,542.50 98,667,554.00 (4,001,351.40) 163,947,820.11
当期确认(转回)的减值损失 1,014,545.33 (857,029.43) (41,119.00) - - 116,396.90
采用权益法核算的长期股权投
资确认的投资收益(损失) (1,551,472.60) 5,869,058.60 13,945,653.13 130,411.80 - 18,393,650.93
采用权益法核算的长期股权投
资金额 2,226,808.65 72,843,646.39 4,049,971.51 133,845,598.83 - 212,966,025.38
长期股权投资以外的非流动资
产 5,019,264,645.35 10,299,060,481.43 - 2,229,108,519.44 (295,970,899.45) 17,251,462,746.77
资本性支出 200,038,172.38 39,708,876.69 1,685,972.49 9,950.00 - 241,442,971.56
其中：在建工程支出 181,788,704.04 21,146,817.41 597,631.73 - - 203,533,153.18
购置固定资产支出 18,084,694.04 18,024,892.85 671,543.76 9,950.00 - 36,791,080.65
购置无形资产支出 74,124.30 147,626.74 - - - 221,751.04
购置长期待摊费用支出 90,650.00 389,539.69 416,797.00 - - 896,986.69
2、本集团主要业务为酒店营运管理、食品及餐饮服务等，经营范围广泛，未有对特定客户的依赖。
139
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释
1、货币资金
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目
外币金额 折算率 人民币金额 外币金额 折算率 人民币金额
现金：
人民币 209,929.98 285,568.20
银行存款：
人民币(注 1) 3,544,677,820.83 2,799,169,072.59
美元 81,615.51 6.6320 541,275.08 120,458.07 6.4936 782,206.52
其他金融机构存款(注 2)：
人民币 999,107,298.77 433,839,801.31
合计 4,544,536,324.66 3,234,076,648.62
注 1：本公司上述银行存款中用于为子公司借款提供担保的质押存款为人民币 1,417,068,000.00 元(期初
数﹕人民币 944,712,000.00 元)。质押借款信息参见附注(五)28。
注 2：其他金融机构存款系存放于财务公司的款项。
2、应收账款
(1) 应收账款按种类披露：
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类 计提 计提
比例 账面价值 比例 账面价值
金额 金额 比例 金额 金额 比例
(%) (%)
(%) (%)
单项金额重大并单项计提坏
- - - - - - - - - -
账准备的应收账款
按信用风险特征组合计提坏
8,795,120.46 100.00 69,803.23 0.79 8,725,317.23 6,320,147.02 100.00 48,616.75 0.77 6,271,530.27
账准备的应收账款
单项金额不重大但单独计提
- - - - - - - - - -
坏账准备的应收账款
合计 8,795,120.46 100.00 69,803.23 0.79 8,725,317.23 6,320,147.02 100.00 48,616.75 0.77 6,271,530.27
组合中，按账龄分析法计提坏账准备的应收账款：
人民币元
2016 年 6 月 30 日
账龄
金额 坏账准备 计提比例(%)
3 个月以内 8,211,996.29 - -
3 至 6 个月 496,128.66 2,339.30 0.47
6 至 12 个月 26,042.12 6,510.54 25.00
12 个月以上 60,953.39 60,953.39 100.00
合计 8,795,120.46 69,803.23
(2) 本期计提、收回或转回的坏账准备情况
人民币元
项目 2015 年 12 月 31 日 本期计提额 本期转回额 本期转销额 2016 年 6 月 30 日
坏账准备 48,616.75 51,668.99 (30,482.51) - 69,803.23
140
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
2、应收账款 - 续
(3) 按欠款方归集的期末余额前五名的应收账款情况
人民币元
与本公司关 占应收账款总额的比例 计提坏账
单位名称 金额
系 (%) 准备金额
北京三快科技有限公司 第三方 1,620,901.30 18.43 -
汇通百达网络科技(上海)有限公司 关联方 1,012,091.19 11.51 585.47
上海晶英汇餐饮有限公司 第三方 298,589.50 3.39 1,893.57
上海携程国际旅行社有限公司 第三方 282,815.92 3.22 -
北京趣拿软件科技有限公司 第三方 159,203.58 1.81 -
合计 3,373,601.49 38.36 2,479.04
3、应收利息
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
银行定期存款 37,186,343.38 28,723,398.72
财务公司定期存款 7,480,000.00 5,080,000.00
委托贷款 17,279.16 84,154.59
合计 44,683,622.54 33,887,553.31
4、应收股利
人民币元
2015 年 2016 年 相关款项是否
项目 本期增加 本期减少 未收回的原因
12 月 31 日 6 月 30 日 发生减值
账龄一年以内的应收股利
(1)锦江之星 - 170,000,000.00 - 170,000,000.00 尚未发放 否
(2)锦江都城 - 26,000,000.00 (26,000,000.00) -
(3)长江证券股份有限公司 - 26,600,000.00 (26,600,000.00) -
(4)申万宏源股份有限公司 - 1,663,284.90 - 1,663,284.90 尚未发放 否
(5)锦江食品 - 846,000.00 (846,000.00) -
(6)杭州肯德基有限公司 9,507,026.99 29,157,567.86 (12,420,939.34) 26,243,655.51 尚未发放 否
(7)苏州肯德基有限公司 - 10,780,761.00 - 10,780,761.00 尚未发放 否
(8)无锡肯德基有限公司 - 4,691,549.98 (2,320,000.00) 2,371,549.98 尚未发放 否
(9)上海肯德基有限公司 - 26,574,864.68 - 26,574,864.68 尚未发放 否
(10)新亚富丽华 - 4,305,000.00 (4,305,000.00) -
(11)其他 - 132,033.76 (132,033.76) -
合计 9,507,026.99 300,751,062.18 (72,623,973.10) 237,634,116.07
本财务报告期末，本公司无账龄一年以上的应收股利。
5、其他应收款
(1) 其他应收款按种类披露：
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类 计提 计提
账面价值 账面价值
金额 比例(%) 金额 比例 金额 比例(%) 金额 比例
(%) (%)
单项金额重大并单项计提
615,649,456.68 97.61 - - 615,649,456.68 134,068,832.68 91.03 - - 134,068,832.68
坏账准备的其他应收款
按信用风险特征组合计提
- - - - - - - - - -
坏账准备的其他应收款
单项金额不重大但单独计
15,082,021.22 2.39 606,265.93 4.02 14,475,755.29 13,213,466.21 8.97 606,265.93 4.59 12,607,200.28
提坏账准备的其他应收款
合计 630,731,477.90 100.00 606,265.93 0.10 630,125,211.97 147,282,298.89 100.00 606,265.93 0.41 146,676,032.96
141
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
5、其他应收款 - 续
(2) 本期计提、收回或转回的坏账准备情况
本期其他应收款坏账准备余额无变动。
(3) 按款项性质列示其他应收款
人民币元
其他应收款性质 2016 年 6 月 30 日 2015 年 12 月 31 日
预计收回股权收购款(附注(六)1) 480,656,509.90 -
关联方代垫资金 146,619,263.43 144,040,291.04
押金及保证金 349,752.02 334,752.02
业务周转金 237,800.00 253,285.70
其他 2,868,152.55 2,653,970.13
合计 630,731,477.90 147,282,298.89
(4) 按欠款方归集的期末余额前五名的其他应收款情况
人民币元
与本公 占其他应收款 坏账准备
单位名称 性质 金额 账龄
司关系 总额的比例(%) 期末余额
JP Morgan&Chase
预计收回股权收购款 第三方 480,656,509.90 1 年内 76.21 -
(附注(六)1)
时尚之旅 关联方代垫资金 子公司 50,000,000.00 2至3年 7.93 -
达华宾馆 关联方代垫资金 子公司 47,595,022.50 1至5年 7.55 -
闵行饭店 关联方代垫资金 子公司 30,449,295.35 1至3年 4.83 -
锦江都城 关联方代垫资金 子公司 6,948,628.93 1至3年 1.10 -
合计 615,649,456.68 97.62 -
6、存货
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目
账面余额 跌价准备 账面价值 账面余额 跌价准备 账面价值
原材料 835,324.82 - 835,324.82 782,519.22 - 782,519.22
库存商品 1,326,692.90 - 1,326,692.90 3,266,635.92 - 3,266,635.92
合计 2,162,017.72 - 2,162,017.72 4,049,155.14 - 4,049,155.14
7、一年内到期的非流动资产
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
委托贷款(附注(十四)31(5)) - 200,000,000.00
合计 - 200,000,000.00
8、其他流动资产
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
委托贷款(附注(十四)31(5)) 18,000,000.00 10,000,000.00
预缴税金 15,510,397.21 -
待摊费用 120,570.34 16,467.45
合计 33,630,967.55 10,016,467.45
142
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
9、长期应收款
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
关联方资金拨款 10,328,000.00 10,328,000.00
合计 10,328,000.00 10,328,000.00
系本公司应收全资子公司新亚食品的流动资金拨款。
10、长期股权投资
(1) 长期股权投资分类汇总如下：
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
对子公司投资 12,063,277,303.87 3,982,107,303.87
对联营企业投资 176,540,306.37 158,599,006.40
合计 12,239,817,610.24 4,140,706,310.27
减：长期股权投资减值准备 2,051,300.00 2,051,300.00
长期股权投资净额 12,237,766,310.24 4,138,655,010.27
(2) 本财务报告期内长期股权投资减值准备变动如下：
人民币元
2015 年 2016 年
被投资单位 本期增加 本期减少
12 月 31 日 6 月 30 日
子公司
-成套设备 2,051,300.00 - - 2,051,300.00
合计 2,051,300.00 - - 2,051,300.00
143
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
10、长期股权投资 - 续
(3) 对子公司投资明细如下：
人民币元
在被投资单位
在被投资单位
2015 年 本期计提 2016 年 在被投资单位 持股比例与表 减值准备
被投资单位 核算方法 初始投资成本 本期新增 持股比例
12 月 31 日 减值准备 6 月 30 日 表决权比例(%) 决权比例 期末余额
(%)
不一致的说明
子公司
Keystone 成本法 8,081,170,000.00 - 8,081,170,000.00 - 8,081,170,000.00 81.0034 81.0034 不适用
旅馆投资 成本法 1,733,088,660.71 2,033,088,660.71 - - 2,033,088,660.71 100.00 100.00 不适用
时尚之旅 成本法 686,345,057.89 986,345,057.89 - - 986,345,057.89 100.00 100.00 不适用
锦江之星 成本法 377,261,176.09 377,261,176.09 - - 377,261,176.09 100.00 100.00 不适用
餐饮投资 成本法 149,804,836.13 149,804,836.13 - - 149,804,836.13 100.00 100.00 不适用
锦江都城 成本法 50,000,000.00 50,000,000.00 - - 50,000,000.00 100.00 100.00 不适用
达华宾馆 成本法 18,692,739.64 18,692,739.64 - - 18,692,739.64 100.00 100.00 不适用
闵行饭店 成本法 5,505,600.00 5,505,600.00 - - 5,505,600.00 98.25 100.00 注1
锦盘酒店 成本法 5,000,000.00 5,000,000.00 - - 5,000,000.00 100.00 100.00 不适用
锦江食品 成本法 3,269,783.41 3,269,783.41 - - 3,269,783.41 18.00 100.00 不适用
成套设备 成本法 2,051,300.00 2,051,300.00 - - 2,051,300.00 100.00 100.00 不适用 2,051,300.00
新亚食品 成本法 1,088,150.00 1,088,150.00 - - 1,088,150.00 5.00 100.00 注1
锦卢投资 成本法 1,000,000.00 350,000,000.00 - - 350,000,000.00 100.00 100.00 不适用
合计 3,982,107,303.87 8,081,170,000.00 - 12,063,277,303.87 2,051,300.00
注 1：本公司及子公司餐饮投资对闵行饭店持股比例分别为 98.25%及 1.75%。本公司及子公司餐饮投资对新亚食品持股比例分别为 5%及 95%。
144
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
10、长期股权投资 - 续
(4) 对联营公司投资明细如下：
人民币元
本期增减变动
2015 年 2016 年 减值准备
被投资单位 初始投资成本 权益法下确认的 其他综合收益 宣告发放现金
12 月 31 日 追加投资 减少投资 其他权益变动 计提减值准备 其他 6 月 30 日 期末余额
投资损益 调整 股利或利润
联营企业
上海肯德基 97,977,250.00 128,783,162.53 - - 45,812,247.38 - - (26,574,864.68) - - 148,020,545.23 -
新亚富丽华 14,350,000.00 27,949,957.21 - - 2,879,467.78 - - (4,305,000.00) - - 26,524,424.99 -
新鹿餐饮 2,719,227.00 1,865,886.66 - - 129,449.49 - - - - - 1,995,336.15 -
合计 158,599,006.40 - - 48,821,164.65 - - (30,879,864.68) - - 176,540,306.37 -
本财务报告期末，本公司持有长期股权投资的被投资单位向本公司转移资金的能力未受到限制，并无未确认的投资损失。
145
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
11、固定资产
固定资产情况
人民币元
项目 房屋及建筑物 机器设备 运输工具 固定资产装修支出 合计
一、账面原值
1.2015 年 12 月 31 日 51,745,577.93 40,442,605.87 1,693,465.01 14,820,554.09 108,702,202.90
2.本期增加金额 - 17,144,884.96 - 1,827,512.00 18,972,396.96
(1)购置 - 1,313,542.57 - - 1,313,542.57
(2)在建工程转入 - 15,819,598.05 - 1,827,512.00 17,647,110.05
(3)竣工结算调整 - 11,744.34 - - 11,744.34
3.本期减少金额 - (74,874.07) - - (74,874.07)
(1)本期处置或报废 - (74,874.07) - - (74,874.07)
4.2016 年 6 月 30 日 51,745,577.93 57,512,616.76 1,693,465.01 16,648,066.09 127,599,725.79
二、累计折旧
1.2015 年 12 月 31 日 17,320,419.24 29,260,789.32 1,517,057.17 10,709,512.41 58,807,778.14
2.本期增加金额-计提 873,107.67 1,539,775.05 4,601.28 901,600.50 3,319,084.50
3.本期减少金额-处置或报废 - (63,335.78) - - (63,335.78)
4.2016 年 6 月 30 日 18,193,526.91 30,737,228.59 1,521,658.45 11,611,112.91 62,063,526.86
三、减值准备
1.2015 年 12 月 31 日 - - - - -
2.本期增加金额 - - - - -
3.本期减少金额 - - - - -
4.2016 年 6 月 30 日 - - - - -
四、账面价值
1.2016 年 6 月 30 日 33,552,051.02 26,775,388.17 171,806.56 5,036,953.18 65,536,198.93
2.2015 年 12 月 31 日 34,425,158.69 11,181,816.55 176,407.84 4,111,041.68 49,894,424.76
12、在建工程
(1) 在建工程明细如下：
2016 年 6 月 30 日 2015 年 12 月 31 日
项目
账面余额 减值准备 账面净值 账面余额 减值准备 账面净值
“锦江都城”新亚大酒店装修工程 103,478,895.23 - 103,478,895.23 80,486,536.30 - 80,486,536.30
“Campanile”大方饭店装修工程 21,706,016.86 - 21,706,016.86 102,331.73 - 102,331.73
“锦江都城”南华亭宾馆装修工程 20,787,498.60 - 20,787,498.60 20,787,496.04 - 20,787,496.04
“锦江都城”南京饭店装修工程 6,435,844.60 - 6,435,844.60 - - -
“锦江都城”新城饭店装修工程 - - - 88,083,808.90 - 88,083,808.90
其他装修工程 1,154,278.56 - 1,154,278.56 1,584,310.27 - 1,584,310.27
合计 153,562,533.85 - 153,562,533.85 191,044,483.24 - 191,044,483.24
146
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
12、在建工程 - 续
(2) 重大在建工程项目变动情况
人民币元
工程投入 本期利息
2015 年 本期转入 本期转入 2016 年 利息资本化 其中：本期利息
项目名称 预算数 本期增加 本期转入 占预算比例 工程进度(%) 资本化率 资金来源
12 月 31 日 固定资产 无形资产 6 月 30 日 累计金额 资本化金额
长期待摊费用 其他减少 (%) (%)
“锦江都城”新亚大酒店装
114,961,730.00 80,486,536.30 22,992,358.93 - - - - 103,478,895.23 90.00% 90.00% - - - 自筹拨款
修工程
“Campanile”大方饭店装
28,938,617.00 102,331.73 21,603,685.13 - - - - 21,706,016.86 75.00% 75.00% - - - 自筹拨款
修工程
“锦江都城”南华亭宾馆装
46,002,906.00 20,787,496.04 2.56 - - - - 20,787,498.60 45.00% 45.00% - - - 自筹拨款
修工程
“锦江都城”南京饭店装修
50,000,000.00 - 6,435,844.60 - - - - 6,435,844.60 13.00% 7.00% - - - 自筹拨款
工程
“锦江都城”新城饭店装修
88,083,808.90 88,083,808.90 - (15,590,803.79) (68,255,260.53) (9,670.00) (4,228,074.58) - 100.00% 100.00% - - - 自筹拨款
工程
其他装修工程 1,584,310.27 3,996,512.55 (2,056,306.26) (2,370,238.00) - - 1,154,278.56 - - -
合计 191,044,483.24 55,028,403.77 (17,647,110.05) (70,625,498.53) (9,670.00) (4,228,074.58) 153,562,533.85 - - -
147
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
13、无形资产
人民币元
项目 土地使用权 其他 合计
一、账面原值
1.2015 年 12 月 31 日 91,847,425.45 1,972,987.83 93,820,413.28
2.本年购置 - 1,800.00 1,800.00
3.本年在建工程转入 - 9,670.00 9,670.00
3.本年减少金额 - - -
4.2016 年 6 月 30 日 91,847,425.45 1,984,457.83 93,831,883.28
二、累计摊销
1.2015 年 12 月 31 日 34,789,823.02 1,950,981.86 36,740,804.88
2.本年增加金额-计提 1,171,202.88 3,892.69 1,175,095.57
3.本年减少金额 - - -
4.2016 年 6 月 30 日 35,961,025.90 1,954,874.55 37,915,900.45
三、减值准备
1.2015 年 12 月 31 日 - - -
2.本年增加金额 - - -
3.本年减少金额 - - -
4.2016 年 6 月 30 日 - - -
四、账面价值
1.2016 年 6 月 30 日 55,886,399.55 29,583.28 55,915,982.83
2.2015 年 12 月 31 日 57,057,602.43 22,005.97 57,079,608.40
14、长期待摊费用
人民币元
项目 2015 年 12 月 31 日 本期增加额(注) 本期摊销额 其他减少额 2016 年 6 月 30 日
经营租入固定资产改良 5,164,600.29 43,945,497.30 (210,504.37) (996,938.00) 47,902,655.22
经营租入固定资产装修 775,835.14 26,680,001.23 (551,690.31) (56,768.00) 26,847,378.06
合计 5,940,435.43 70,625,498.53 (762,194.68) (1,053,706.00) 74,750,033.28
注：本期增加中包括在建工程完工转入长期待摊费用人民币 70,625,498.53 元。
15、其他非流动资产
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
一年后到期的质押存款(附注(五)28) 3,306,492,000.00 3,778,848,000.00
股权收购定金及预付款(附注(十二)1) 680,000,000.00 -
一年后到期的质押存款利息 155,110,634.32 96,451,789.44
合计 4,141,602,634.32 3,875,299,789.44
148
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
16、递延所得税资产/递延所得税负债
(1) 未经抵销的递延所得税资产
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目 可抵扣 可抵扣
递延所得税资产 递延所得税资产
暂时性差异 暂时性差异
应付职工薪酬 20,140,996.82 5,035,249.21 14,544,446.74 3,636,111.69
资产减值准备 5,676,069.16 1,419,017.29 5,654,882.68 1,413,720.67
政府补助 5,500,000.00 1,375,000.00 5,500,000.00 1,375,000.00
经营租赁费用 3,365,628.62 841,407.16 2,871,142.88 717,785.72
预收会员卡及积分的递延收益 1,877,422.37 469,355.59 2,283,643.80 570,910.95
合计 36,560,116.97 9,140,029.25 30,854,116.10 7,713,529.03
(2) 未经抵销的递延所得税负债
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目 应纳税 应纳税
递延所得税负债 递延所得税负债
暂时性差异 暂时性差异
计入其他综合收益的可供出售金融
850,370,740.46 212,592,685.13 1,187,210,833.11 296,802,708.29
资产公允价值变动
合计 850,370,740.46 212,592,685.13 1,187,210,833.11 296,802,708.29
(3) 以抵销后净额列示的递延所得税资产或负债
人民币元
2016 年 6 月 30 日 2015 年 12 月 31 日
项目 抵销后 抵销后
递延所得税资产 递延所得税资产
递延所得税 递延所得税
和负债互抵金额 和负债互抵金额
资产或负债 资产或负债
递延所得税资产 9,140,029.25 - 7,713,529.03 -
递延所得税负债 9,140,029.25 203,452,655.88 7,713,529.03 289,089,179.26
17、资产减值准备明细
人民币元
2015 年 本期减少 2016 年
项目 本期增加
12 月 31 日 转回 转销 6 月 30 日
一、坏账准备 654,882.68 51,668.99 (30,482.51) - 676,069.16
二、存货跌价准备 - - - - -
三、可供出售金融资产减值准备 - - - - -
四、持有至到期投资减值准备 - - - - -
五、长期股权投资减值准备 2,051,300.00 - - - 2,051,300.00
六、投资性房地产减值准备 - - - - -
七、固定资产减值准备 - - - - -
八、工程物资减值准备 - - - - -
九、在建工程减值准备 - - - - -
十、生产性生物资产减值准备 - - - - -
其中：成熟生产性生物资产减值准备 - - - - -
十一、油气资产减值准备 - - - - -
十二、无形资产减值准备 - - - - -
十三、商誉减值准备 - - - - -
十四、其他 - - - -
合计 2,706,182.68 51,668.99 (30,482.51) - 2,727,369.16
149
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
18、短期借款
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
信用借款—银行(注 1) 9,100,000,000.00 3,700,000,000.00
信用借款—其他金融机构(附注(五)19) 900,000,000.00 900,000,000.00
信用借款—委托借款(注 2) 50,000,000.00 47,000,000.00
合计(注 3) 10,050,000,000.00 4,647,000,000.00
注 1： 本财务报告期末，本公司从中国建设银行股份有限公司获得为期一年的人民币短期借款，借款总
额人民币 2,000,000,000.00 元，借款年利率为 3.915%至 4.14%；从招商银行股份有限公司获得为
期一年的人民币短期借款，借款总额人民币 1,900,000,000.00 元，其中人民币 1,500,000,000.00 元
以浮动利率计息，本财务报告期间，借款年利率为 3.915%，人民币 400,000,000.00 元以固定利率
计息，借款年利率为 3.915%；从上海浦东发展银行股份有限公司获得为期一年的人民币短期借款，
借款总额人民币 1,800,000,000.00 元，借款年利率为 3.915%至 4.14%；从上海银行股份有限公司
获得为期一年的人民币短期借款，借款总额人民币 500,000,000.00 元，借款年利率为 3.915%；从
中国农业银行股份有限公司获得为期一年的人民币短期借款，借款总额人民币 1,000,000,000.00
元，借款年利率为 3.915%；从中国银行股份有限公司获得为期一年的人民币短期借款，借款总额
人民币 1,000,000,000.00 元，借款年利率为 3.915%；从上海农商银行获得为期一年的人民币短期
借款，借款总额人民币 900,000,000.00 元，借款年利率为 3.915%。
注 2： 系本公司自锦江都城通过财务公司取得的委托借款，金额为人民币 50,000,000.00 元，借款利率为
3.06%。有关借款期限详见附注(十四)31(5)。
注 3： 其中人民币 1,500,000,000.00 元借款以浮动利率计息。
19、应付职工薪酬
(1) 应付职工薪酬列示
人民币元
2015 年 2016 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、短期薪酬 8,825,653.70 42,739,663.25 38,628,147.43 12,937,169.52
2、离职后福利-设定提存计划 175,297.06 5,704,982.07 5,826,882.07 53,397.06
3、辞退福利 14,544,446.74 205,720.07 2,952,819.62 11,797,347.19
合计 23,545,397.50 48,650,365.39 47,407,849.12 24,787,913.77
(2) 短期薪酬列示
人民币元
2015 年 2016 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、工资、奖金、津贴和补贴 8,189,368.70 34,226,907.54 30,090,406.70 12,325,869.54
2、职工福利费 - 2,095,688.33 2,095,688.33 -
3、社会保险费 16,744.09 2,736,254.54 2,736,253.94 16,744.69
其中：医疗保险费 16,102.08 2,402,843.75 2,402,843.75 16,102.08
工伤保险费 404.57 124,656.47 124,655.87 405.17
生育保险费 237.44 208,754.32 208,754.32 237.44
4、住房公积金 122,248.00 2,129,671.00 2,251,571.00 348.00
5、工会经费和职工教育经费 497,292.91 722,810.84 625,896.46 594,207.29
6、其他 - 828,331.00 828,331.00 -
合计 8,825,653.70 42,739,663.25 38,628,147.43 12,937,169.52
150
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
19、应付职工薪酬 - 续
(3) 设定提存计划
人民币元
2015 年 2016 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、养老保险费 170,481.18 5,429,102.07 5,551,002.07 48,581.18
2、失业保险费 4,815.88 275,880.00 275,880.00 4,815.88
合计 175,297.06 5,704,982.07 5,826,882.07 53,397.06
本公司按规定参加由政府机构设立的养老保险、失业保险计划，根据该等计划，本公司分别按员工上一
年度月平均工资的 21%、1.5%每月向该等计划缴存费用。除上述每月缴存费用外，本公司不再承担进一
步支付义务。相应的支出于发生时计入当期损益或相关资产的成本。
本公司 2016 年 1 月 1 日至 2016 年 6 月 30 日止期间应分别向养老保险、失业保险计划缴存费用人民币
5,429,102.07 元及人民币 275,880.00 元(2015 年 1 月 1 日至 2015 年 6 月 30 日止期间：人民币 3,813,535.30
元及人民币 201,454.73 元)。于 2016 年 6 月 30 日，本公司尚有人民币 48,581.18 元及人民币 4,815.88 元
(2015 年 12 月 31 日：人民币 170,481.18 元及人民币 4,815.88 元)的应缴存费用是于本报告期间到期而未
支付给养老保险及失业保险计划的。有关应缴存费用已于报告期后支付。
20、应交税费
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
增值税 323,950.33 (1,324,015.84)
营业税 - 850,350.67
企业所得税 - 73,548,197.33
个人所得税 213,904.42 334,053.57
房产税 72,731.93 72,731.92
其他 7,435,866.77 7,228,735.46
合计 8,046,453.45 80,710,053.11
21、其他应付款
(1) 其他应付款明细如下：
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
非公开发行履约保证金(注(3)) 78,391,614.44 78,391,614.44
预提重大资产置换及附属交易涉及税金(注(2)A) 58,623,448.29 58,623,448.29
经营周转款 36,404,563.76 13,407,663.42
预提股权收购项目中介机构费用 14,294,130.57 5,814,869.44
应付时尚之旅股权受让款(注(2)B) 9,796,303.25 9,796,303.25
预提费用 6,155,443.08 5,324,678.58
代垫款 2,411,323.50 2,399,936.13
其他 17,709,918.74 15,816,627.30
合计 223,786,745.63 189,575,140.85
151
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
21、其他应付款 - 续
(2) 本报告期末账龄超过 1 年的大额其他应付款情况的说明。
本财务报告期末，账龄超过 1 年的的大额其他应付款包括：
A.本公司预提尚未支付的最终金额尚需待相关税金的清算工作完成后确定的重大资产置换及附属交易涉
及税金人民币 58,623,448.29 元。
B.本公司应付时尚之旅股权转让款余额人民币 9,796,303.25 元，该股权转让款余额作为交易保证金将于
时尚之旅瑕疵物业等事项解除后进行支付。
(3) 本财务报告期末，除(2)中所述项目外，本公司大额的其他应付款包括本公司拟在本财务报告期后非
公开发行股票而向发行对象收取的履约保证金人民币 78,391,614.44 元。
(4) 除(2)、(3)中所述项目外，本财务报告期末本公司的其他应付款主要系与日常经营有关的预提租金等
费用、代垫款项、定金和押金等零星款项。
22、其他非流动负债
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
政府补助 5,500,000.00 5,500,000.00
合计 5,500,000.00 5,500,000.00
涉及政府补助的项目：
人民币元
本期新增 本期计入营业外 与资产相关
负债项目 期初余额 期末余额
补助金额 收入金额 /与收益相关
新城饭店项目扶持基金 5,500,000.00 - - 5,500,000.00 与资产相关
合计 5,500,000.00 - - 5,500,000.00
23、其他综合收益
人民币元
本期发生额
2015 年 减：前期计入其 2016 年
项目 本期所得税前 减： 税后归属于母
12 月 31 日 他综合收益当 6 月 30 日
发生额 所得税费用 公司所有者
期转入损益
以后将重分类进损益的其他综合收益 893,238,567.71 (174,595,879.59) 162,244,213.06 (84,210,023.16) (252,630,069.49) 640,608,498.22
其中：可供出售金融资产公允价值变动
890,408,124.80 (174,595,879.59) 162,244,213.06 (84,210,023.16) (252,630,069.49) 637,778,055.31
损益
权益法下在被投资单位以后将重
分类进损益的其他综合收益中享 2,830,442.91 - - - - 2,830,442.91
有的份额
合计 893,238,567.71 (174,595,879.59) 162,244,213.06 (84,210,023.16) (252,630,069.49) 640,608,498.22
152
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
24、营业收入、营业成本
(1) 营业收入、营业成本
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日 2015 年 1 月 1 日至 2015 年 6 月 30 日
行业名称 止期间 止期间
收入 成本 收入 成本
主营业务 78,175,534.71 9,964,392.46 91,668,671.22 12,762,751.42
其他业务 727,108.62 590,476.20 600,000.00 600,000.00
合计 78,902,643.33 10,554,868.66 92,268,671.22 13,362,751.42
(2) 主营业务(分行业)
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日 2015 年 1 月 1 日至 2015 年 6 月 30 日
行业名称 止期间 止期间
营业收入 营业成本 营业收入 营业成本
有限服务型酒店营运及管理业务
其中：客房 62,840,487.25 - 72,090,380.09 -
餐饮 5,191,508.68 3,926,028.67 7,029,430.70 4,913,688.87
商品销售 5,681,906.51 5,519,323.31 7,852,836.38 7,611,860.41
其他 4,461,632.27 519,040.48 4,696,024.05 237,202.14
合计 78,175,534.71 9,964,392.46 91,668,671.22 12,762,751.42
(3) 来自前五名客户的营业收入情况
人民币元
占公司全部营业
客户名称 营业收入
收入的比例(%)
北京三快科技有限公司 3,070,085.31 3.89
上海杨浦唐宫海鲜舫有限公司 1,122,246.89 1.42
携程旅游信息技术（上海）有限公司 897,415.00 1.14
上海申浦广告装潢有限公司 590,476.20 0.75
上海晶英汇餐饮有限公司 550,362.20 0.70
合计 6,230,585.60 7.90
153
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
25、按性质分类的成本与费用
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
商品成本 9,964,392.46 12,388,694.56
职工薪酬 48,650,365.39 37,983,331.28
其中：工资和薪金 34,226,907.54 28,903,653.96
社会保险费 8,441,236.61 6,012,928.35
住房公积金 2,129,671.00 1,495,567.00
福利费 2,095,688.33 728,456.25
其他费用 1,756,861.91 842,725.72
能源及物料消耗 9,894,857.45 10,920,134.36
折旧与摊销 5,256,374.75 5,325,004.36
经营租赁费用 18,679,254.33 17,750,298.82
维修和维护费 1,147,509.21 1,432,991.51
房产税及其他税费附加 5,652,623.40 337,414.77
中介机构费用 18,423,359.96 54,329,470.89
广告费 1,356,834.02 1,434,175.27
其他 24,720,310.28 24,644,112.95
营业成本、销售费用及管理费用合计 143,745,881.25 166,545,628.77
26、财务费用
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
利息支出 228,108,880.73 107,564,175.14
减﹕利息收入 107,895,698.94 88,882,055.13
汇兑差额 (6,994,255.10) 697.43
其他 941,487.10 593,825.73
合计 114,160,413.79 19,276,643.17
27、投资收益
(1) 投资收益明细情况
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
权益法核算的长期股权投资收益 48,821,164.65 16,737,821.83
成本法核算的长期股权投资收益 196,846,000.00 208,486,000.00
持有可供出售金融资产期间取得的投资收益 73,025,197.50 48,718,781.85
处置可供出售金融资产取得的投资收益 206,426,728.39 160,287,582.12
其他 839,012.90 3,039,304.15
合计 525,958,103.44 437,269,489.95
154
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
27、投资收益 - 续
(2) 按权益法核算的长期股权投资收益(损失)
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
被投资单位 2016 年 6 月 30 日 2015 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
上海肯德基 45,812,247.38 13,927,868.57 因营业收入增加，本期盈利高于上期
新亚富丽华 2,879,467.78 2,679,541.46 本期盈利基本与上期持平
新鹿餐饮 129,449.49 130,411.80 本期盈利基本与上期持平
合计 48,821,164.65 16,737,821.83
(3) 按成本法核算的长期股权投资收益
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
被投资单位 2016 年 6 月 30 日 2015 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
锦江之星 170,000,000.00 200,000,000.00 因营业收入下降，本期盈利低于上期
锦江都城 26,000,000.00 8,000,000.00 因营业收入增加，本期盈利高于上期
锦江食品 846,000.00 486,000.00 因营业收入增加，本期盈利高于上期
合计 196,846,000.00 208,486,000.00
(4) 持有可供出售金融资产期间取得的投资收益的情况详见附注(五)43(3)。
(5) 处置可供出售金融资产取得的投资收益的情况详见附注(五)43(4)。
28、营业外收入
(1) 营业外收入明细：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
政府补助 11,167,447.14 5,414,168.63
其他 209,898.75 179,934.45
合计 11,377,345.89 5,594,103.08
(2) 政府补助明细：
人民币元
项目 本期发生额 上期发生额 与资产相关/与收益相关
产业扶持资金 11,167,447.14 5,414,168.63 与收益相关
合计 11,167,447.14 5,414,168.63
155
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
29、现金流量表项目注释
(1) 支付其他与投资活动有关的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
支付的并购中介费 8,007,520.10 69,136,075.13
为关联方代垫之工程款项 - 14,655,299.33
股权收购定金及预付款(附注(十二)1) 680,000,000.00 -
预计收回股权收购款(附注(六)1) 473,750,000.00 -
合计 1,161,757,520.10 83,791,374.46
(2) 收到其他与筹资活动有关的现金
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
用于借款质押的定期存款利息收入 19,364,837.12 35,592,676.74
合计 19,364,837.12 35,592,676.74
156
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
30、现金流量表补充资料
(1) 现金流量表补充资料
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
补充资料 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
1．将净利润调节为经营活动现金流量：
净利润 344,179,859.49 325,616,980.19
加：计提资产减值准备 21,186.48 -
固定资产折旧 3,319,084.50 3,040,203.05
无形资产摊销 1,175,095.57 1,250,202.90
长期待摊费用摊销 762,194.68 1,034,598.41
处置固定资产、无形资产和其他长期资产的损失 10,468.29 (150,480.03)
财务费用 137,667,047.48 50,489,256.92
投资损失(收益) (525,958,103.44) (437,269,489.95)
递延所得税资产减少(增加) (1,426,500.22) 421,649.39
存货的减少(增加) 1,887,137.42 (611,563.03)
经营性应收项目的减少(增加) (26,142,497.97) (23,800,598.13)
经营性应付项目的增加(减少) (27,784,311.90) 3,589,600.91
经营活动产生的现金流量净额 (92,289,339.62) (76,389,639.37)
2．不涉及现金收支的重大投资和筹资活动：
融资租入固定资产 - -
3．现金及现金等价物净变动情况：
现金的期末数 3,127,468,324.66 2,128,514,458.15
减：现金的期初数 2,289,364,648.62 2,842,897,015.27
加：现金等价物的期末数 - -
减：现金等价物的期初数 - -
现金及现金等价物净增加(减少)额 838,103,676.04 (714,382,557.12)
(2) 现金和现金等价物的构成
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日
一、现金 3,127,468,324.66 2,289,364,648.62
其中：库存现金 209,929.98 285,568.20
可随时用于支付的银行存款 3,127,258,394.68 2,289,079,080.42
二、现金等价物 - -
三、期末现金及现金等价物余额 3,127,468,324.66 2,289,364,648.62
157
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
31、关联方及关联交易
(1) 本公司的子公司、联营公司的基本情况及相关信息详见附注(七)，本公司的其他关联方的基本情况及
相关信息详见附注(十)。
(2) 购销商品、提供和接受劳务的关联交易
采购商品/接受劳务情况表：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
关联方 关联交易内容 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
锦江之星 采购物品 2,219,219.60 224,135.62
食品公司 采购食品 8,657.18 -
上海锦江国际酒店物品有限公司 采购酒店物品 2,839.20 340,658.40
小计 2,230,715.98 564,794.02
(3) 关联租赁情况
本公司作为出租方：
人民币元
承租方名称 租赁资产种类 本期确认的租赁收入 上期确认的租赁收入
锦亚餐饮 物流中心、共和店及大方店销售店铺 780,180.18 897,900.00
闵行饭店 房屋租赁 146,928.44 -
上海锦江广告装饰公司 广告位 - 283,332.60
小计 927,108.62 1,181,232.60
本公司作为承租方：
人民币元
出租方名称 租赁资产种类 本期确认的租赁费 上期确认的租赁费
金沙江大酒店(注) 经营区域 5,038,607.22 5,292,000.00
南华亭酒店(注) 经营区域 4,089,584.90 4,284,000.00
白玉兰宾馆(注) 经营区域 4,017,495.30 4,452,000.00
锦江国际 办公区域及经营区域 1,230,777.13 1,382,916.00
上海东锦江大酒店有限公司 办公区域 299,789.00 387,996.00
上海锦江物业管理公司 办公区域 48,512.00 62,838.00
小计 14,724,765.55 15,861,750.00
注：有关本公司与南华亭酒店、金沙江大酒店及白玉兰宾馆的租赁的详情参见附注(十)5(3)。
158
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
31、关联方及关联交易 - 续
(4) 关联受托经营情况
有关本公司与锦江酒店集团及青年会大酒店的受托经营详情参见附注(十)5(3)。
(5) 关联方资金拆借
本财务报告期间发生额及于 2016 年 6 月 30 日余额：
人民币元
关联方 拆借金额 起始日 到期日 说明
拆入
财务公司 100,000,000.00 2015 年 10 月 20 日 2016 年 10 月 19 日 信用借款
财务公司 400,000,000.00 2015 年 12 月 21 日 2016 年 12 月 20 日 信用借款
财务公司 200,000,000.00 2015 年 12 月 21 日 2016 年 12 月 20 日 信用借款
财务公司 200,000,000.00 2016 年 2 月 18 日 2017 年 2 月 17 日 信用借款
财务公司 100,000,000.00 2015 年 8 月 4 日 2016 年 4 月 29 日 信用借款
财务公司 100,000,000.00 2015 年 10 月 20 日 2016 年 4 月 29 日 信用借款
财务公司 400,000,000.00 2016 年 1 月 19 日 2016 年 1 月 19 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 19 日 2016 年 1 月 19 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 19 日 2016 年 1 月 19 日 信用借款
财务公司 100,000,000.00 2016 年 1 月 19 日 2016 年 1 月 19 日 信用借款
财务公司 400,000,000.00 2016 年 1 月 20 日 2016 年 1 月 20 日 信用借款
财务公司 100,000,000.00 2016 年 1 月 20 日 2016 年 1 月 20 日 信用借款
财务公司 400,000,000.00 2016 年 1 月 21 日 2016 年 1 月 21 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 21 日 2016 年 1 月 21 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 21 日 2016 年 1 月 21 日 信用借款
财务公司 100,000,000.00 2016 年 1 月 21 日 2016 年 1 月 21 日 信用借款
财务公司 180,000,000.00 2016 年 1 月 26 日 2016 年 1 月 26 日 信用借款
财务公司 400,000,000.00 2016 年 1 月 26 日 2016 年 1 月 26 日 信用借款
财务公司 200,000,000.00 2016 年 1 月 26 日 2016 年 1 月 26 日 信用借款
财务公司 100,000,000.00 2016 年 2 月 18 日 2016 年 5 月 3 日 信用借款
财务公司 120,000,000.00 2016 年 4 月 29 日 2016 年 4 月 29 日 信用借款
财务公司 200,000,000.00 2016 年 4 月 29 日 2016 年 4 月 29 日 信用借款
财务公司 200,000,000.00 2016 年 4 月 29 日 2016 年 4 月 29 日 信用借款
财务公司 100,000,000.00 2016 年 4 月 29 日 2016 年 4 月 29 日 信用借款
财务公司 400,000,000.00 2016 年 5 月 3 日 2016 年 5 月 3 日 信用借款
财务公司 100,000,000.00 2016 年 5 月 3 日 2016 年 5 月 3 日 信用借款
财务公司 400,000,000.00 2016 年 6 月 27 日 2016 年 6 月 27 日 信用借款
财务公司 200,000,000.00 2016 年 6 月 27 日 2016 年 6 月 27 日 信用借款
财务公司 200,000,000.00 2016 年 6 月 27 日 2016 年 6 月 27 日 信用借款
财务公司 100,000,000.00 2016 年 6 月 27 日 2016 年 6 月 27 日 信用借款
锦江都城 47,000,000.00 2015 年 6 月 18 日 2016 年 6 月 17 日 委托借款
锦江都城 50,000,000.00 2016 年 6 月 17 日 2017 年 6 月 16 日 委托借款
小计 6,397,000,000.00
159
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
31、关联方及关联交易 - 续
(5) 关联方资金拆借 - 续
人民币元
关联方 拆借金额 起始日 到期日 说明
拆出
锦亚餐饮 3,000,000.00 2015 年 4 月 13 日 2016 年 4 月 12 日 委托贷款
锦亚餐饮 2,000,000.00 2015 年 5 月 12 日 2016 年 4 月 12 日 委托贷款
锦亚餐饮 2,000,000.00 2015 年 7 月 13 日 2016 年 7 月 12 日 委托贷款
锦亚餐饮 1,000,000.00 2015 年 10 月 12 日 2016 年 7 月 12 日 委托贷款
锦亚餐饮 1,500,000.00 2015 年 11 月 17 日 2016 年 7 月 12 日 委托贷款
锦亚餐饮 4,000,000.00 2016 年 1 月 27 日 2017 年 1 月 26 日 委托贷款
锦亚餐饮 5,000,000.00 2016 年 4 月 12 日 2017 年 4 月 11 日 委托贷款
锦亚餐饮 3,000,000.00 2016 年 5 月 11 日 2017 年 5 月 10 日 委托贷款
锦箸餐饮 500,000.00 2015 年 7 月 13 日 2016 年 7 月 12 日 委托贷款
新亚食品 1,000,000.00 2016 年 1 月 26 日 2017 年 1 月 26 日 委托贷款
锦江之星 40,000,000.00 2013 年 7 月 17 日 2016 年 1 月 20 日 委托贷款
锦江之星 50,000,000.00 2013 年 7 月 17 日 2016 年 3 月 9 日 委托贷款
锦江之星 10,000,000.00 2013 年 7 月 17 日 2016 年 4 月 11 日 委托贷款
锦江之星 100,000,000.00 2013 年 7 月 18 日 2016 年 6 月 6 日 委托贷款
小计 223,000,000.00
本公司与关联方之间资金拆借产生的利息费用和利息收入列示如下：
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
利息支出 18,517,560.36 53,613,554.00
本公司将部分结算资金或闲置资金存入财务公司，期末余额及本期交易额列示如下：
人民币元
财务公司 2016 年 6 月 30 日 2015 年 12 月 31 日
期末存款余额 999,107,298.77 433,839,801.31
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
财务公司 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
期内累计存入财务公司的存款资金 2,511,339,004.39 16,501,465,609.46
期内累计从财务公司取出的存款资金 1,946,071,506.93 16,803,555,913.52
利息收入 3,929,547.34 5,370,037.02
(6) 本财务报告期内本公司无关联方资产转让和债务重组。
(7) 根据公司与 Keystone 少数股东签署的股东协议，Keystone 少数股东可以在将来一定期间内将其持有
的全部或部分 Keystone 股权以按照一定方法计算的价格出售给本公司 (“强售权”)。于 2016 年 3
月，本公司与锦江国际约定 Keystone 少数股东实际出售股权时，由锦江国际或其他相关方购买相关
股权。
(8) 本财务报告期内本公司并无其他关联交易。
160
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
31、关联方及关联交易 - 续
(9) 关联方应收应付项目
i)应收项目
人民币元
项目名称 关联方 2016 年 6 月 30 日 2015 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
应收账款 锦江国际及其下属企业 1,241,473.13 - 820,469.81 -
小计 1,241,473.13 - 820,469.81 -
其他应收款 时尚之旅 50,000,000.00 - 50,000,000.00 -
其他应收款 达华宾馆 47,595,022.50 - 47,583,458.80 -
其他应收款 闵行饭店 30,449,295.35 - 30,449,295.35 -
其他应收款 锦江都城 6,948,628.93 - 6,036,078.53 -
其他应收款 成套设备 3,278,337.51 - 3,278,337.51 -
其他应收款 锦江之星 5,450,653.11 - 2,890,232.82 -
其他应收款 锦盘酒店 1,369,807.71 - 1,369,807.71 -
其他应收款 锦亚餐饮 1,200,000.00 - 1,000,000.00 -
其他应收款 旅馆投资 302,955.33 - - -
其他应收款 餐饮投资 29,088.33 - - -
其他应收款 锦江国际及其下属企业 42,505.70 - - -
其他应收款 锦江酒店集团及其下属企业 7,476.20 - 1,433,080.32 -
小计 146,673,770.67 - 144,040,291.04 -
应收利息 财务公司 7,480,000.00 - 5,080,000.00 -
应收利息 锦江之星 - - 73,333.33 -
应收利息 锦亚餐饮 15,841.25 - 10,302.88 -
应收利息 新亚食品 966.66 - - -
应收利息 锦箸餐饮 471.25 - 518.38 -
小计 7,497,279.16 - 5,164,154.59 -
其他流动资产 新亚食品 1,000,000.00 - - -
其他流动资产 锦亚餐饮 16,500,000.00 - 9,500,000.00 -
其他流动资产 锦箸餐饮 500,000.00 - 500,000.00 -
小计 18,000,000.00 - 10,000,000.00 -
一年内到期的非流 - -
锦江之星 - 200,000,000.00
动资产
小计 - - 200,000,000.00 -
长期应收款 新亚食品 10,328,000.00 - 10,328,000.00 -
小计 10,328,000.00 - 10,328,000.00 -
161
上海锦江国际酒店发展股份有限公司
财务报表附注
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
31、关联方及关联交易 - 续
(8) 关联方应收应付项目 - 续
ii)应付项目
人民币元
项目名称 关联方 2016 年 6 月 30 日 2015 年 12 月 31 日
应付账款 锦江国际及其下属企业 5,726,549.04 4,489,755.27
应付账款 锦江酒店集团及其下属企业 - 48,807.54
小计 5,726,549.04 4,538,562.81
其他应付款 锦江之星 32,506,405.64 10,758,364.85
其他应付款 旅馆投资 3,898,158.12 2,649,298.57
其他应付款 锦亚餐饮 - 1,008.00
其他应付款 新亚食品 15,876.21 -
其他应付款 锦江酒店集团及其下属企业 26,154.90 414,027.82
其他应付款 锦江国际及其下属企业 200,981.65 106,448.21
其他应付款 锦江都城 253,231.91 221,292.13
其他应付款 成套设备 441,291.63 428,887.63
其他应付款 闵行饭店 18,775.80 -
其他应付款 达华宾馆 203,678.74 -
小计 37,564,554.60 14,579,327.21
应付利息 财务公司 345,110.66 938,512.66
应付利息 锦江都城 42,500.00 51,700.00
小计 387,610.66 990,212.66
***财务报表结束***
162
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
1、当期非经常性损益明细表
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日 2015 年 6 月 30 日
止期间 止期间
非流动资产处置收益(损失) 6,976,911.56 (1,136,015.37)
越权审批或无正式批准文件的税收返还、减免 - -
计入当期损益的政府补助(与企业业务密切相关，按照国家统一标准
31,026,515.03 22,624,728.76
定额或定量享受的政府补助除外)
计入当期损益的对非金融企业收取的资金占用费 - -
企业取得子公司、联营企业及合营企业的投资成本小于取得投资时应
- -
享有被投资单位可辨认净资产公允价值产生的收益
非货币性资产交换损益 - -
委托他人投资或管理资产的损益 - -
因不可抗力因素，如遭受自然灾害而计提的各项资产减值准备 - -
债务重组损益 - -
企业重组费用，如安置职工的支出、整合费用等 - -
交易价格显失公允的交易产生的超过公允价值部分的损益 - -
同一控制下企业合并产生的子公司期初至合并日的当期净损益 - -
与公司正常经营业务无关的或有事项产生的损益 - -
除同公司正常经营业务相关的有效套期保值业务外，持有以公允价值
计量且其变动计入当期损益的金融资产、交易性金融负债产生的公允
206,373,718.01 160,635,323.08
价值变动损益，处置以公允价值计量且其变动计入当期损益的金融资
产、交易性金融负债和可供出售金融资产取得的投资收益
单独进行减值测试的应收款项减值准备转回 - -
对外委托贷款取得的损益 - -
采用公允价值模式进行后续计量的投资性房地产公允价值变动产生
- -
的损益
根据税收、会计等法律、法规的要求对当期损益进行一次性调整对当
- -
期损益的影响
受托经营取得的托管费收入 - -
除上述各项之外的其他营业外收入和支出 22,040,481.29 3,141,368.52
其他符合非经常性损益定义的损益项目 - -
所得税影响额 (68,946,410.81) (46,486,254.60)
少数股东权益影响额(税后) (941.94) 446.59
合计 197,470,273.14 138,779,596.98
非经常性损益明细表编制基础
根据中国证券监督管理委员会《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益[2008]》的
规定，非经常性损益是指与公司正常经营业务无直接关系，以及虽与正常经营业务相关，但由于其性质特殊和
偶发性，影响报表使用人对公司经营业绩和盈利能力作出正确判断的各项交易和事项产生的损益。
163
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
2、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酒店发展股份有限公司(以下简称“锦江股份”)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》
(2012 年修订)的有关规定而编制的。
人民币元
加权平均净资产 每股收益
报告期利润
收益率 加权平均净资产 基本每股收益 稀释每股收益(注)
(%) (人民币元)
归属于公司普通股股东的净利润 3.72 8,043,645,145.60 0.3718 不适用
扣除非经常性损益后归属于公司普通股股东的
1.26 8,043,645,145.60 0.1264 不适用
净利润
注：本公司并不存在稀释性潜在普通股。
164
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表
为方便报表使用者阅读并比较本公司有限服务型酒店业务分部 2016 年 6 月 30 日与 2015 年 12 月 31 日的资产负
债变动状况、2016 年 1 月 1 日至 2016 年 6 月 30 日止期间和 2015 年 1 月 1 日至 2015 年 6 月 30 日止期间的经营
成果、现金流量情况及有限服务型酒店业务分部的客房运营数据，本公司编制了后附的有限服务型酒店业务分
部汇总会计报表和客房运营报表。本有限服务型酒店业务分部汇总会计报表并未对有限服务型酒店业务分部与
本公司其他业务分部间的交易和往来余额进行抵销。本汇总会计报表和客房运营报表仅供报表使用者参考。
有限服务型酒店业务分部汇总资产负债表
人民币元
项目 2016 年 6 月 30 日 2015 年 12 月 31 日 项目 2016 年 6 月 30 日 2015 年 12 月 31 日
流动资产： 流动负债：
货币资金 2,939,985,820.97 1,553,043,349.87 短期借款 2,477,409,189.73 609,091,457.30
衍生金融资产 - - 衍生金融负债 7,731,861.50 6,360,052.14
应收票据 - - 应付票据 - -
应收账款 580,675,984.98 421,427,450.39 应付账款 1,534,712,954.17 894,261,128.32
预付款项 278,097,204.17 60,766,765.96 预收款项 519,492,032.42 188,145,473.34
应收利息 890,116.66 1,022,377.35 应付职工薪酬 436,508,859.83 311,837,706.31
应收股利 640,592.50 614,905.51 应交税费 269,495,134.54 162,628,534.86
其他应收款 380,589,976.86 155,309,656.38 应付利息 17,470,955.51 14,214,950.42
存货 66,894,937.89 45,008,489.43 应付股利 170,020,970.81 193,587.35
一年内到期的非流动
1,724,154.35 1,640,003.54 其他应付款 781,137,450.53 343,954,057.53
资产
一年内到期的非流动
其他流动资产 261,464,071.46 209,367,618.94 2,873,595,035.92 221,093,804.60
负债
流动资产合计 4,510,962,859.84 2,448,200,617.37 其他流动负债 - -
流动负债合计 9,087,574,444.96 2,751,780,752.17
非流动资产： 非流动负债：
可供出售金融资产 430,871,462.85 2,974,903.40 长期借款 6,815,318,710.19 9,313,179,348.27
持有至到期投资 - - 长期应付款 153,001,519.50 152,063,990.30
长期应收款 - - 长期应付职工薪酬 175,505,537.38 161,863,492.93
长期股权投资 121,203,023.02 82,373,390.50 预计负债 21,847,270.48 58,341,294.70
投资性房地产 - - 递延所得税负债 2,194,242,993.70 1,182,273,461.73
固定资产 6,709,046,645.40 6,488,490,261.16 其他非流动负债 146,219,356.34 79,356,841.02
在建工程 696,102,198.57 674,948,908.96 非流动负债合计 9,506,135,387.59 10,947,078,428.95
工程物资 - - 负债合计 18,593,709,832.55 13,698,859,181.12
固定资产清理 - - 股东权益：
生产性生物资产 - - 股本 2,749,103,922.55 2,749,103,922.55
油气资产 - - 资本公积 744,285,703.53 744,285,703.53
无形资产 6,556,111,892.95 2,444,659,431.17 其他综合收益 22,745,478.36 15,233,578.45
开发支出 - 盈余公积 110,630,561.03 110,630,561.03
商誉 10,169,998,341.56 4,216,472,381.61 未分配利润 584,999,865.64 614,585,816.80
长期待摊费用 2,617,483,929.67 1,528,087,224.76 母公司拨款 8,392,984,147.19 258,786,497.42
归属于有限服务型酒
递延所得税资产 501,363,905.90 400,497,318.29 店业务分部所有者权 12,604,749,678.30 4,492,626,079.78
益合计
其他非流动资产 125,329,740.09 94,722,992.83 少数股东权益 1,240,014,489.00 189,942,169.15
非流动资产合计 27,927,511,140.01 15,933,226,812.68 股东权益合计 13,844,764,167.30 4,682,568,248.93
资产总计 32,438,473,999.85 18,381,427,430.05 负债和股东权益总计 32,438,473,999.85 18,381,427,430.05
165
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表-续
有限服务型酒店业务分部汇总利润表
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目
2016 年 6 月 30 日止期间 2015 年 6 月 30 日止期间
一、营业总收入 4,247,333,545.83 2,364,772,253.37
自有和租赁酒店 3,456,018,952.02 1,956,531,062.87
加盟和管理酒店 791,314,593.81 408,241,190.50
营业收入总额 4,247,333,545.83 2,364,772,253.37
减：营业税金及附加 78,612,621.84 66,106,383.48
营业收入净额 4,168,720,923.99 2,298,665,869.89
营业成本和费用：
自有和租赁酒店成本
租金 621,598,207.41 284,844,920.15
能源 268,182,518.10 91,447,877.73
人工成本 902,870,596.38 492,285,934.61
折旧 283,238,691.94 196,946,348.27
摊销 277,191,154.04 108,403,823.52
消耗用品、食品和饮料 196,520,473.85 131,935,754.80
其他 665,456,442.60 388,865,224.77
自有和租赁酒店成本合计 3,215,058,084.32 1,694,729,883.85
销售和市场费用 102,022,429.16 81,738,682.79
加盟管理酒店人工成本 27,018,678.90 24,272,549.67
一般行政管理费用 534,480,546.05 232,982,514.45
开办费 8,640,545.22 6,758,899.86
全部营业成本和费用合计 3,887,220,283.65 2,040,482,530.62
二、来自营业的利润 281,500,640.34 258,183,339.27
利息收入 7,807,830.74 9,142,535.55
利息支出 111,936,969.88 69,247,075.01
其他非营业收入 65,302,444.82 29,257,803.15
其他非营业支出 13,220,494.11 2,283,035.05
三、利润总额 229,453,451.91 225,053,567.91
所得税费用 92,754,722.69 79,239,481.59
四、净利润 136,698,729.22 145,814,086.32
减：少数股东收益 4,909,829.90 3,944,321.78
归属于有限服务型酒店业务分部的净利润 131,788,899.32 141,869,764.54
166
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表-续
有限服务型酒店业务分部汇总现金流量表
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目
2016 年 6 月 30 日止期间 2015 年 6 月 30 日止期间
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 4,319,707,031.13 2,288,612,081.21
收到的税费返还 15,952,197.30 -
收到其他与经营活动有关的现金 28,213,153.86 45,387,951.01
经营活动现金流入小计 4,363,872,382.29 2,334,000,032.22
购买商品、接受劳务支付的现金 943,718,802.54 540,368,604.88
支付给职工以及为职工支付的现金 1,258,248,081.80 665,814,789.58
支付的各项税费 268,756,209.82 174,689,878.62
支付其他与经营活动有关的现金 1,025,864,132.50 491,472,548.72
经营活动现金流出小计 3,496,587,226.66 1,872,345,821.80
经营活动产生的现金流量净额 867,285,155.63 461,654,210.42
二、投资活动产生的现金流量：
收回投资收到的现金 60,983,718.70 234,380,244.72
取得投资收益收到的现金 4,242,857.82 11,611,916.08
处置固定资产、无形资产和其他长期资产收回的现金
8,790,807.52 833,667.27
净额
处置子公司及其他营业单位收到的现金净额 - 527,063,409.16
收到其他与投资活动有关的现金 - 17,142,936.10
投资活动现金流入小计 74,017,384.04 791,032,173.33
购买子公司和其他经营单位支付的现金 138,888,388.73 2,956,867,734.47
购建固定资产、无形资产和其他长期资产支付的现
410,450,314.22 273,814,527.21
金
投资所支付的现金 54,375,457.62 47,098,879.25
支付其他与投资活动有关的现金 27,689,331.20 47,409,767.14
投资活动现金流出小计 631,403,491.77 3,325,190,908.07
投资活动产生的现金流量净额 (557,386,107.73) (2,534,158,734.74)
三、筹资活动产生的现金流量：
吸收投资收到的现金 22,538,570.00 649,000,000.00
其中：子公司吸收少数股东投资收到的现金 22,538,570.00 -
取得借款收到的现金 1,200,000,000.00 18,611,718,832.86
收到其他与筹资活动有关的现金 131,146,460.95 60,206,093.76
筹资活动现金流入小计 1,353,685,030.95 19,320,924,926.62
偿还债务支付的现金 1,412,341,287.62 16,220,261,032.85
分配股利、利润或偿付利息支付的现金 130,811,216.56 92,010,504.26
其中：子公司支付给少数股东的股利、利润 236,043.43 10,480,767.45
支付其他与筹资活动有关的现金 47,891,718.93 416,548,860.48
筹资活动现金流出小计 1,591,044,223.11 16,728,820,397.59
筹资活动产生的现金流量净额 (237,359,192.16) 2,592,104,529.03
四、汇率变动对现金及现金等价物的影响 30,054,183.36 76,178,817.34
五、现金及现金等价物净增加额 102,594,039.10 595,778,822.05
加：期初现金及现金等价物余额 2,832,704,093.93 717,373,079.65
六、期末现金及现金等价物余额 2,935,298,133.03 1,313,151,901.70
167
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表-续
有限服务型酒店业务分部息税折旧摊销前利润表
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目
2016 年 6 月 30 日止期间 2015 年 6 月 30 日止期间
归属于有限服务型酒店分部的净利润 131,788,899.32 141,869,764.54
利息收入 7,807,830.74 9,142,535.55
利息费用 111,936,969.88 69,247,075.01
所得税费用 92,754,722.69 79,239,481.59
折旧 286,547,481.66 196,946,348.27
摊销 281,232,205.65 108,403,823.52
息税折旧摊销前的利润(EBITDA) 896,452,448.46 586,563,957.38
息税折旧摊销前的利润占营业收入的比重(%) 21.11 24.80
汇兑损益 (83,226.72) 449,834.86
开办费 8,640,545.22 6,758,899.86
调整后息税折旧摊销前的利润(EBITDA) 905,176,220.40 592,873,022.38
调整后息税折旧摊销前的利润占营业收入的比
21.31 25.07
重(%)
有限服务型酒店业务分部成本费用表
人民币元
2016 年 1 月 1 日至 2015 年 1 月 1 日至
项目 2016 年 6 月 30 日止期间 2015 年 6 月 30 日止期间
金额 占营业收入(%) 金额 占营业收入(%)
营业收入 4,247,333,545.83 100.00 2,364,772,253.37 100.00
酒店营业成本 3,215,058,084.32 75.70 1,694,729,883.85 71.67
销售和市场费用 102,022,429.16 2.40 81,738,682.79 3.46
加盟管理酒店人工成本 27,018,678.90 0.64 24,272,549.67 1.03
一般行政管理费用 534,480,546.05 12.58 232,982,514.45 9.85
开办费 8,640,545.22 0.20 6,758,899.86 0.29
全部营业成本和费用 3,887,220,283.65 91.52 2,040,482,530.62 86.30
168
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表-续
锦江都城、锦江之星、金广快捷和百时快捷品牌客房运营表（第二季度）
截止至 2015 年 6 月 30 日 截止至 2016 年 3 月 31 日 截止至 2016 年 6 月 30 日
开业酒店数量（家）
自有和租赁酒店 272 278 282
加盟和管理酒店 750 806 820
全部开业酒店 1,022 1,084 1,102
开业酒店全部客房数量（间）
自有和租赁酒店 37,340 38,218 38,885
加盟和管理酒店 84,551 90,690 92,037
全部开业酒店 121,891 128,908 130,922
全部签约酒店数量（家）
自有和租赁酒店 305 309 309
加盟和管理酒店 953 1,030 1,058
全部签约酒店 1,258 1,339 1,367
全部签约酒店客房数量（间）
自有和租赁酒店 42,303 42,989 43,018
加盟和管理酒店 105,804 113,438 115,888
全部签约酒店 148,107 156,427 158,906
2015 年第二季度 2016 年第一季度 2016 年第二季度
客房出租率（%）
自有和租赁酒店 77.97 69.98 77.49
加盟和管理酒店 80.05 70.39 78.05
全部开业酒店 79.40 70.27 77.88
平均房价（人民币元/间）
自有和租赁酒店 194.73 188.55 193.05
加盟和管理酒店 179.16 177.58 183.57
全部开业酒店 183.94 180.86 186.43
每间可供客房提供的客房收入
（人民币元/间）
自有和租赁酒店 151.83 131.95 149.59
加盟和管理酒店 143.42 125.00 143.28
全部开业酒店 146.05 127.09 145.19
169
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表
麗枫、喆啡、IU、七天系列、派和铂涛集团其他品牌客房运营表（第二季度）
截止至 2016 年 3 月 31 日 截止至 2016 年 6 月 30 日
开业酒店数量（家）
自有和租赁酒店 481 482
加盟和管理酒店 2,274 2,312
全部开业酒店 2,755 2,794
开业酒店全部客房数量（间）
自有和租赁酒店 50,024 49,884
加盟和管理酒店 191,253 191,648
全部开业酒店 241,277 241,532
全部签约酒店数量（家）
自有和租赁酒店 484 492
加盟和管理酒店 3,128 3,191
全部签约酒店 3,612 3,683
全部签约酒店客房数量（间）
自有和租赁酒店 50,456 50,830
加盟和管理酒店 257,553 261,243
全部签约酒店 308,009 312,073
2016 年 3 月 2016 年第二季度
客房出租率（%）
自有和租赁酒店 77.47 87.35
加盟和管理酒店 75.54 82.83
全部开业酒店 75.70 83.80
平均房价（人民币元/间）
自有和租赁酒店 159.24 143.82
加盟和管理酒店 152.22 148.71
全部开业酒店 153.71 147.62
每间可供客房提供的客房收入
(人民币元/间)
自有和租赁酒店 123.36 125.63
加盟和管理酒店 114.99 123.18
全部开业酒店 116.36 123.71
170
补充资料
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表
Première Classe、Campanile、Kyriad 系列、Golden Tulip 系列品牌客房运营表（第二季度）
截止至 2015 年 6 月 30 日 截止至 2016 年 3 月 31 日 截止至 2016 年 6 月 30 日
开业酒店数量（家）
自有和租赁酒店 253 281 280
加盟和管理酒店 878 895 903
全部开业酒店 1,131 1,176 1,183
开业酒店全部客房数量（间）
自有和租赁酒店 19,085 21,393 21,322
加盟和管理酒店 74,546 77,182 77,961
全部开业酒店 93,631 98,575 99,283
全部签约酒店数量（家）
自有和租赁酒店 253 283 282
加盟和管理酒店 924 952 960
全部签约酒店 1,177 1,235 1,242
全部签约酒店客房数量（间）
自有和租赁酒店 19,085 21,669 21,598
加盟和管理酒店 82,236 85,942 86,744
全部签约酒店 101,321 107,611 108,342
2015 年第二季度 2016 年第一季度 2016 年第二季度
客房出租率（%）
自有和租赁酒店 74.05 58.99 72.77
加盟和管理酒店 62.03 53.13 61.16
全部开业酒店 64.52 54.60 63.92
平均房价（欧元/间）
自有和租赁酒店 54.59 52.05 56.20
加盟和管理酒店 62.93 58.92 60.63
全部开业酒店 60.94 57.05 59.43
每间可供客房提供的客房收入
（欧元/间）
自有和租赁酒店 40.42 30.70 40.90
加盟和管理酒店 39.04 31.30 37.08
全部开业酒店 39.32 31.15 37.99
171
Shanghai Jin Jiang International Hotels
Development Co., Ltd.
Stock code for A share：600754
Stock code for B share：900934
2016 Mid-year Report
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Stock code: 600754, 900934 Stock name: Jin Jiang Shares, Jin Jiang B Share
Shanghai Jin Jiang International Hotels Development Co., Ltd.
2016 Mid-year Report
Important Notice
I. The Board of Directors and Board of Supervisors of the Company and all its members and
senior management ensure that the information contained in this Report are free from any false
statement, misrepresentation or significant omission and will bear the joint and several liabilities
for the truth, accuracy and completeness of the contents of the Report.
II. The 22th Meeting of the 8th Session of Board of Directors of the Company approved the
mid-year report on 26 August, 2016. All directors attended the board meeting.
III. The financial statements for the period ended 30 June 2016 prepared in accordance with
Accounting Standards for Business Enterprises are reviewed by Deloitte Touche Tohmatsu CPA
LLP. , and issued a reviewer's report with unqualified opinion for these financial statements (De
Shi Bao (Yue) Zi (16) No.(R0043).
IV. Mr. Yu Minliang, Chairman of Board and legal representative of the Company, Mr. Zhang
Xiaoqiang, Chief Executive Officer of the Company("CEO"), Ms. Shen Li, Chief Financial
Officer of the accounting department, and Ms. Wu Lin, person in charge of accounting
department declare to guarantee the authenticity, accuracy and integrity of the financial
statements in this Interim Mid-year Report.
V. The Company has no plan of profit distribution and surplus converted to share capital during the
reporting period discussed by the board.
VI. Disclaimer of prospective descriptions
The prospective description such as plans and development strategy in the interim report
shouldn't be considered as the commitment to the investors. Please pay attention to the
investment risk.
VII. The Company has no non-operating funds occupied by holding shareholder and its related
parties.
VIII. The Company has no guarantees provided violating the stipulated decision-making process.
IX. Share Purchase and Possible Prices Adjustment in Group de Louvre
On 16 February 2015, Luxembourg Sailing Investment Co.Sarl a wholly-owned subsidiary of the
Company signed the "Share Purchase Agreement" to acquire 100% share of the Group de
Louvre With Star SDL Investment Co S.à rl . The delivery issued of transaction is completed On
27 February 2015 (Beijing time). According to the "Share Purchase Agreement", it is possible to
adjust the price of the target company's shares in accordance with the agreed adjustment
mechanism. Please pay attention to this when reading the financial report.
1 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
X. Share Purchase and Possible Prices Adjustment in Plateno Group
On 18 September 2015, the Company entered into Share Purchase Agreement with the
following 13 counterparties: Prototal Enterprises Limited, Ever Felicitous Limited, Keystone
Asia Holdings Limited, SCC Growth 2010-Peak Holdco, Ltd., Sequoia Capital Global Growth
Fund,L.P., Sequoia Capital Global Growth Principals Fund, L.P., Happy Travel Limited, Happy
Boat Lodging Limited, Jaguar Investment Pte Ltd., Ctrip Investment Holding Ltd., Smartech
Resources Limited, Chien Lee, Minjian Shi etc. to purchase 81.0034% equity in Plateno Group.
This transaction was completed on 26 February 2016. Users of this Mid-year Report are kindly
informed that share prices of underlying companies are subject to adjustments in accordance
with agreed adjustment mechanism in the Share Purchase Agreement .
XI. Others
The Mid-year Report is published in Chinese and English respectively. Should there be any
inconsistency between the Chinese and English versions, the Chinese version shall prevail.
2 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Contents
I. Definition ................................................................................................................................................. 4
II. Basic Information of the Company........................................................................................................ 6
III. Summary of Financial Data and Financial Indexes ............................................................................... 7
IV. Reports of the Board of Directors ......................................................................................................... 9
V.Significant Events .................................................................................................................................. 27
VI. Change of Share Capital and Particulars of Shareholders .................................................................. 33
VII. Preferred Shares ................................................................................................................................ 35
VIII. Directors, Supervisors and Senior Management .............................................................................. 36
IX. Corporate Bonds .................................................................................................................................. 37
X. Financial Report ................................................................................................................................... 38
XI. Document for Reference ..................................................................................................................... 39
Attachment:
1. Report of the Reviewer ……………………………………………………………………………… 40
2．Financial Statements …………………………………………………………………………………41
3．Notes to the Financial Statements …………………………………………………………………… 50
4．Supplementary Information …………………………………………………………………………167
3 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
I. Definition
In this report，the words below had the meanings as following except for other requirements.
Commonly used words
Company/ the Company/
as Shanghai Jin Jiang International Hotels Development Co., Ltd.
Jin Jiang Hotels
Shanghai Jin Jiang International Hotels(Group)Co., Ltd.，the holding
Jin Jiang Hotels Group as
company of the Jin Jiang Hotels
Jin Jiang International (Holdings) Co., Ltd.，the ultimate holding
Jin Jiang International as
company of Jin Jiang Hotels and Jin Jiang Hotels Group
Jin Jiang Metropolo as Shanghai Jin Jiang Metropolo Hotels Management Co., Ltd.
Jin Jiang Inn as Jin Jiang Inn Co., Ltd.
Hotels Investment as Shanghai Jin Jiang International Hotels Investment Co., Ltd.
Jinguang as Shanghai Jinguang Management Co., Ltd.
Smartel as Smartel Management Co., Ltd.
Jin Lu Investment as Shanxi Jin Lu Hotels Management Co., Ltd.
Sailing Investment as Sailing Investment Co.Sarl, registered in Luxembourg
GDL as Group de Louvre, registered in France
LHG as Louvre Hotels Group, registered in France
Plateno Group as Keystone Lodging Holdings Limited and its subsidiaries
Da Hua Hotel as Shanghai Jin Jiang Da Hua Hotel Co., Ltd.
Minhang Hotel as Shanghai Minhang Hotel Co., Ltd.
Jin Pan Hotel as Shanghai Jin Pan Hotel Co., Ltd
Shanghai Jin Jiang International Hotels Development Co., Ltd. East
East Asia Hotel as
Asia Hotel
Shanghai Jin Jiang International Hotels Development Co., Ltd.Nan
Nan Jing Hotel as
Jing Hotel
Metropole Hotel as Shanghai Jin Jiang International Hotels Co., Ltd. Metropole Hotel
New Asia Hotel as Shanghai Jin Jiang International Hotels Co., Ltd. New Asia Hotel
Shanghai Jin Jiang International Hotels Co., Ltd. Huating Guest
Hua Ting Guest House as
House
Jinshajiang Hotel as Shanghai Jin Jiang International Hotels Co., Ltd. Jinshajiang Hotel
BaiYulan Hotel as Shanghai Jin Jiang International Hotels Co., Ltd. BaiYulan Hotel
Qing Nianhui Hotel as Shanghai Jin Jiang International Hotels Co., Ltd. Qing Nianhui Hotel
Catering Investment as Shanghai Jin Jiang International Catering Investment Co., Ltd.
New Asia Food as Shanghai New Asia Food Co., Ltd.
Shanghai Jin Jiang International Food & Catering Management
Jin Jiang Food as
Co.,Ltd.
Jinzhu Catering as Shanghai Jinzhu Catering Management Co., Ltd
Jinya Catering as Shanghai Jinya Catering Management Co.,Ltd.
Jin Jiang Tung Lok as Shanghai Jin Jiang Tung Lok Catering Management Inc.
Shanghai Yoshinoya as Shanghai Yoshinoya Co.,Ltd.
Shanghai KFC as Shanghai Kentucky Fried Chicken Co., Ltd.
New Asia Fulihua as Shanghai New Asia Fulihua Catering Co., Ltd.
Hangzhou KFC as Hangzhou Kentucky Fried Chicken Co., Ltd.
Wuxi KFC as Wuxi Kentucky Fried Chicken Co., Ltd.
Suzhou KFC as Suzhou Kentucky Fried Chicken Co., Ltd.
Jing An Bakery as Shanghai Jing An Bakery Co., Ltd.
Jin Jiang International
as Jin Jiang International Finance Co., Ltd.
Finance
Changjiang Securities as Changjiang Securities Co., Ltd.
Shenwan Hongyuan as Shenwan Hongyuan Group Co., Ltd.
Hony Capital (Shanghai) Equity Investment Fund Center (Limited
Hony Capital as
Partnership)
Guosheng Investment as Shanghai Guosheng Group Investment Co., Ltd.
GW Asset Management as China Great Wall Asset Management Corporation
HuaAn Asset Management as HuaAn Future Asset Management (Shanghai) Co., Ltd.
4 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
SIG Asset Management as SIG Asset Management Co., Ltd.
CSRC as China Securities Regulatory Commission
SSE as Shanghai Stock Exchange
SEHK as The Stock Exchange of Hong Kong Ltd.
Shanghai State-Owned Assets Supervision and Administration
SHSAC as
Commission of Shanghai Municipal Government
Company law as The Company Law of The People's Republic of China
Securities law as The Securities Law of The People's Republic of China
Average occupancy rate (%) as (Occupied rooms)/(Total available rooms)*100%, unit: %
Average Room Rate
as Total Room Revenue/ Total occupied rooms, RMB/room
(RMB/room)
The average daily revenue from per available room, Average room
RevPAR as
revenues=average room rate× average occupancy rate, RMB/room
EBITDA as Earnings Before Interest， Taxes， Depreciation and Amortization
Articles of Shanghai Jin Jiang International Hotels Development Co.,
Articles of the Company as
Ltd.
Reporting period, This
period, The end of reporting
as 01/01/2016-06/30/2016, 06/30/2016
period, The end of this
period
Last reporting period, prior
as 01/01/2015-06/30/2015, 12/31/2015
period, The end of prior year
Yuan, RMB 0'000 as RMB Yuan、RMB0'000Yuan
5 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
II. Basic Information of the Company
1. Information of the Company
Chinese legal name 上海锦江国际酒店发展股份有限公司
Abbreviation for Chinese legal name 锦江股份
English name Shanghai Jin Jiang International Hotels Development Co., Ltd.
Abbreviation for English name JIN JIANG SHARES
Legal representative Mr.Yu Minliang
2. Contact Person and Contacts
Secretary to the Company's Board of Directors Securities Deputy
Name Ms. Hu Min Ms. Yang Jie
25th Floor, No.100 Yan'an Road
Contact address 25th Floor, No.100 Yan'an Road East, Shanghai
East, Shanghai
Telephone 86-21-63217132 86-21-63217132
Fax 86-21-63217720 86-21-63217720
E-mail JJIR@JINJIANGHOTELS.COM JJIR@ JINJIANGHOTELS.COM
3. Basic Introduction
4th Floor, No.889, South Yang Gao Road,
Registered address
China (Shanghai) Pilot Free Trade Zone (District B)
Zip code of the registered address 200127
Business address 25th Floor, No.100 Yan'an Road East, Shanghai
Zip code of business address 200002
Internet website address http://www. JINJIANGHOTELS.SH.CN
E-mail JJIR@ JINJIANGHOTELS.COM
4. Information Disclosure and Changes of Venue for Preparation and Storage
Name of newspapers for information disclosure Shanghai Securities News, Ta Kung Pao
Internet website address designated by the CSRC
http://www.sse.com.cn
for the publication of the annual report
Venue for mid-year report preparation and Secretarial Office to the Company's Board of
storage directors
5. Brief of the Stock
Stock Type Stock Exchange Abbreviation Stock code Abbreviation before changed
A share Shanghai Stock Exchange Jin Jiang Shares 600754 New Asia Shares
B share Shanghai Stock Exchange Jin Jiang B Shares 900934 New Asia B Shares
6. The Change of Registration of the Company in the Reporting Period
Registration date 20 May 2016
Registration place 4th Floor, No.889, South Yang Gao Road,
China (Shanghai) Pilot Free Trade Zone (District B)
Business License of Legal Person 91310000132203715W
Tax registration number 91310000132203715W
Organization code 91310000132203715W
Reference to changes in the reporting period None
6 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
III. Summary of Financial Data and Financial Indexes
I. Principal Financial Data and Financial Indexes
(i) Principal Financial Data
Unit: RMB
Flux (%)
Reporting period Same period of prior year
Principal financial data compared to
(January to June 2016) (January to June 2015)
previous year
Revenue 4,368,181,085.26 2,489,329,045.96 75.48
Net profit for the year attributed to
299,157,333.01 291,508,994.19 2.62
shareholders of the Company
Net profit for the year attributed to
shareholders of the Company, deducting 101,687,059.87 152,729,397.21 -33.42
the non-routine profit/loss
Net cash flows from operating activities 762,561,844.39 372,083,696.05 104.94
End of the reporting Flux (%)
End of prior year
period compared to
(31 December 2015)
(30 June 2016) previous year
Owners’ equity (shareholders’ equity)
7,951,669,649.18 8,283,799,000.95 -4.01
attributable to shareholders of the Company
Total assets 42,902,308,015.94 27,026,378,513.76 58.74
(ii) Principal Financial Indexes
Flux (%)
Reporting period Same period of prior year
Principal financial indexes compared to
(January to June 2016) (January to June 2015)
previous year
Basic earnings per share ( Yuan/share ) 0.3718 0.3623 2.62
Diluted earnings per share ( Yuan/share ) N/A N/A N/A
Basic earnings per share after deducting the
0.1264 0.1898 -33.42
non-recurring profit/loss ( Yuan/share )
Increase by
Weighted average of return on net assets 0.37percentage
3.72 3.35
(%) point
Weighted average of return on net assets Decrease by
after deducting the 1.26 1.76 0.50 percentage
non-recurring profit/loss (%) point
Exchange Rate
30 June 2016 31 December 2015 30 June 2015
1 USD to RMB 6.6312 6.4936 6.1136
1 EUR to RMB 7.3750 7.0952 6.8699
1HKD to RMB 0.85467 0.83778 0.78861
Note: Exchange rate refers to the RMB central parity at the inter-bank foreign currency market
published by China Foreign Exchange Trade System with authorization from the People’s Bank of
China.
II. Differences of Financial Data under Domestic and Overseas Accounting Standards
□Applicable √Not applicable
7 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
III. Non-recurring Profit and Loss and Amounts
√Applicable □Not applicable
Unit: RMB
Non-recurring profit and loss Amount Note(if applicable)
Profit or loss on disposals of non-current assets 6,976,911.56
Government grants recognized in profit or loss (other than
Government grants received by
grants which are closely related to the enterprise's business and
31,026,515.03 the Company, Jin Jiang Inn, Jin
are either in fixed amounts or determined under quantitative
Jiang Metropolo etc.
methods in accordance with the national standard)
Profit or loss on changes in the fair value of financial assets at
fair value through profit or loss and held-for-trading financial
liabilities, and investment income on disposal of financial assets
Investment income on disposal of
at fair value through profit or loss, held-for-trading financial 206,373,718.01
Chang Jiang Securities shares
liabilities and available-for-sale financial assets, other than those
used in the effective hedging activities relating to normal
operating business
Other non-operating income or expenses other than the above
22,040,481.29
items
Effects attributable to minority interests (after tax) -941.94
Accrued income tax on the
Tax effects -68,946,410.81 disposal of Chang Jiang Securities
shares and Government grants
Total 197,470,273.14
8 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
IV. Reports of the Board of Directors
I. Management Discussion and Analysis
This first half of the year, faced with complicated international environment and the continuing
downward pressure of economy development，the hotel and catering industry is encountered with
challenges as well as opportunities. To carry out the requirement to extensively develop tourism industry
and promote consumer-oriented service industries to a more extensive and high quality development in
the 13th Five-Year Plan, the Company remained committed to carry out the development strategy and
proactively made reform and integration to strengthen operation management. As a result, principal
operation goal was achieved for the first half of the year.
Based on the Company’s development strategy "Global Layout, International Operation", the Company
entered into Share Purchase Agreement with the following 13 counterparties on 18 September 2015:
Prototal Enterprises Limited, Ever Felicitous Limited, Keystone Asia Holdings Limited, SCC Growth
2010-Peak Holdco,Ltd., Sequoia Capital Global Growth Fund,L.P., Sequoia Capital Global Growth
Principals Fund, L.P., Happy Travel Limited, Happy Boat Lodging Limited, Jaguar Investment Pte Ltd.,
Ctrip Investment Holding Ltd., Smartech Resources Limited, Chien Lee, Minjian Shi ect to purchase
81.0034% equity in Plateno Group. All closing work related to this equity transaction was completed on
26 February 2016, resulting to the Company’s obtainment of 81.0034% equity in Plateno Group. At the
end of February 2016, as this equity transaction was completed, Plateno Group was included in the
consolidated financial statements. From March through June, the Plateno Group realized considlation
income RMB 1202.68 million of which net profit RMB 44.06 million was attributable to owners of the
parent company and RMB 240.48 million was deducted as EBITDA. On 30 June 2016，total assets of
the Plateno Group amounted to RMB 7.5 billion of which RMB 3.4 billion was attributable to owners to
the parent company.
From January to June of 2016, the Company realized the following income and profits including
consolidated income as RMB 4,368.18 million, a year-on-year increase of 75.48%; operating profit as
360.19 million, a year-on-year decrease of 6.80%; net profit as RMB 299.16 million attributable to
shareholders of the listed company, a year-on-year increase of 2.62%; net profit after deducting
non-recurring profit or loss as RMB 101.69 million, a year-on-year decrease of 33.42%.
30 June 2016, the total assets of the Company amounted to RMB 42.90231 billion, an increase of 58.74%
compared with that of the end of prior year; total liabilities amounted to RMB 33.71053 billion, an
increase of 81.71% compared with that of the end of prior year, and net assets attributable to
shareholders of the listed company as RMB 7,951.67million, a decrease of 4.01% compared with the
end of the prior year.
From January to June 2016, the Company realized net cash flow arising from operating activities as
RMB 762.56 million, a year-on-year increase of 104.94%.
In the reporting period, reasons for changes in financial data of the Company compared with those of
prior period are as follows:
The year-on-year increase of consolidated operating income was mainly due to the following three
events: 1) the Company completed acquire 81.0034% equity in Plateno Group and included it into the
consolidated financial statements; 2) increased operating income for two months on a year-on-year basis
for the first half of this year of the GDL which was included in the consolidated financial statements in
March 2015; 3) business income increase on a year-on-year basis of brands including Jin Jiang
Metropolo and Jin Jiang Inn ect.
Net profit attributable to the shareholders of the listed company was increased on a year-on-year basis
due to the following events: 1) investment income obtained by the Company was increased on a
year-on-year basis of the following companies: Shanghai KFC, Hangzhou KFC, Suzhou KFC, Wuxi
KFC; 2) income before tax obtained by the Company was increased on a year-on-year basis on disposal
of shares in Changjiang Securities.
9 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Total assets were increased compared with those of prior year mainly due to that the Company obtained
81.0034% equity in Plateno Group upon completion of share acquisition and included it into
consolidated financial statements as well as financing activities in the acquisition. Total liabilities
increased compared with that of the end of prior year mainly due to borrowings from banks for the
acquisition of 81.0034% equity in Plateno Group. Owners' equity of the listed company was decreased
compared with that of the end of prior year mainly due to that the fair value of available-for-sale
financial assets was decreased and profit distribution for 2016 was increased than that of the year 2015.
Net cash flows arising from operating activities was increased on a year-on-year basis mainly due to that
the Company completed the acquisition of 81.0034% equity in Plateno Group and increased net cash
flows of March through June 2016 upon consolidation, as well as year-on-year increased net cash flows
of two months of GDL compared with that of first half of previous year after it was included in the
consolidated financial statements on March 2015.
Business of Limited Service Business Hotels
1. Business Development of Global Hotels
In the first half year of 2016, the limited service business hotels brought Operating income amounting to
RMB 4.24706 billion, increasing 79.63% as compared with the same period of previous year. The net
profit belonging to the segment of limited service business hotels was amounting to RMB 131.79million,
decreasing 7.11% as compared with the same period of previous year.
Operating income in the Mainland China was RMB 2,534.33million, a year-on-year increase of 95.33%
while overseas operating income amounted to RMB 1,712.73 million, a year-on-year increase of 60.53%.
Operating income in the Mainland China accounts for 59.67% of total businesses of hotels while
overseas operating income accounts for 40.33% of total businesses of hotels.
Income from initial franchising fee amounting to RMB 72.14million, increasing 223.93% as compared
with the same period of previous year; ongoing franchising fee amounting to RMB 628.72million,
increasing 89.81% as compared with the same period of previous year; Reservation channel fee
amounting to RMB 25.57 million, decreasing 2.22% compared with the same period of previous year.
Consolidated operating income was increased on a year-on-year basis due to the completion of 81.0034%
equity acquisition in the Plateno Group and then the consolidation; and the increased operating income
for two months on a year-on-year basis for the first half of this year of the GDL which was included in
the consolidated financial statements on March 2015; and business income increase on a year-on-year
basis of brands including Jin Jiang Metropolo and Jin Jiang Inn ect.
Net profit attributable to segments of limited service hotels was decreased on a year-on-year basis
mainly due to the following two facts: 1) newly-included profit from March through June 2016 in
Plateno Group;2) influenced by terrorist attacks in France and other regions, profit of GDL was
accordingly decreased on a year-on-year basis.
In the first half year of 2016, 2,856 limited service business hotels were newly opened in net, 513 among
which are directly-managed inns by the Company, and the remaining 2,343 inns are franchise inns. As at
30 June 2016, 5,079 limited service business hotels have been opened, including 1,044 directly-managed
inns by the Company and 4,035 franchise inns. Directly-managed inns accounted for 20.56% of total
opened hotels and franchise inns accounted for 79.44%. The opened limited service business hotels had
471,737 rooms, including 110,091 rooms from directly-managed inns and 361,646 rooms from franchise
inns. The rooms of directly-managed inns and franchise inns were accounted for 23.34% and 76.66% of
total rooms of the opened inns.
In the first half year of 2016, 3,753 limited service business hotels were newly contracted in net, 493
among which are directly-managed inns by the Company and the remaining 3,260 inns are franchise
inns. As at 30 June 2016, the number of limited service business hotels contracted has been up to 6,292
of which 1,083 are directly-managed inns, and the remaining 5,209 are franchise inns. The contracted
directly-managed inns accounted for 17.21% of total contracted hotels and franchise inns accounted for
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
82.79%. The number of rooms of contracted hotels has been up to 579,321, 115,446 of which belong to
directly-managed inns, and 463,875 of which belong to franchise inns. The rooms of directly-managed
inns accounted for 19.93% of total rooms of contracted hotels and rooms of franchise inns accounted for
80.07%.
As of 30 June 2016, the network of economy hotels including limited service business hotels has
covered 451 cities in 31 provinces, autonomous regions and municipalities directly under the central
government of PRC as well as 62 overseas cities or regions.
2. Business of Limited Service Hotels Operation Analysis by Regions
(1) Domestic Business Operation
In the first 6 month of 2016, the Company obtained consolidated operating income as RMB
2534.33million, a year-on-year increase of 95.33%; and net profit attributable to owners of parent
company as RMB 82.62million, a year-on-year increase of 14.42%; initial franchising fee in the
consolidated operating income as RMB 72.14 million, a year-on-year increase of 233.93%; and
continuous franchising fee as RMB 240.67 million, a year-on-year increase of 163.69%; channel sales
fee from central booking system as RMB 25.57million, a year-on-year decrease of 2.22%.
Consolidated operating income was increased on a year-on-year basis mainly due to the following two
events: 1) the Company completed the 81.0034% equity acquisition in the Plateno Group and included it
in the consolidated financial statements; 2) Business was increase on a year-on-year basis in Jin Jiang
brands including Jin Jiang Metrepolo and Jin Jiang Inn etc.
Net profit attributable to the parent company was increased on a year-on-year basis mainly due to the
newly included net profit of Plateno Group from March through June of 2016 attributable to owners of
the parent company.
The location of domestic limited service business hotels and rooms as at 30 June 2016 are set as below:
Domestic Operated Hotels Domestic Contracted Hotels
Province Number Of
Directly-managed Franchise Directly-managed Franchise
(autonomous regions or cities which
municipalities) is allocated Number Number Number Number Number Number Number Number
of hotels of rooms of hotels of rooms of hotels of rooms of hotels of rooms
Beijing 1 49 6,173 227 21,350 49 6,173 273 24,788
Tianjin 1 13 1,693 84 7,269 14 1,848 125 10,529
HeBei 21 5 674 146 11,976 5 674 216 17,094
Shanxi 13 19 2,275 72 6,610 20 2,410 102 8,926
Inner Mongolia 13 2 206 45 4,442 2 206 66 6,016
Liaoning 16 29 3,500 84 8,151 31 3,799 107 9,971
Jilin 8 13 1,672 29 2,753 13 1,672 43 4,051
Heilongjiang 9 8 843 40 3,506 8 843 50 4,460
Shanghai 1 60 7,856 141 14,549 73 10,003 169 17,046
Jiangsu 50 61 6,729 310 28,059 62 6,848 415 37,379
Zhejiang 33 33 4,096 93 8,746 36 4,530 135 12,948
Anhui 24 15 1,826 70 5,713 15 1,826 113 9,141
Fujian 14 17 2,160 66 6,731 17 2,160 83 8,332
Jiangxi 15 29 3,153 86 7,636 29 3,153 107 9,510
Shandong 33 21 2,336 258 22,876 21 2,336 358 30,610
Henan 21 9 1,407 134 12,715 9 1,407 185 17,248
Hubei 17 42 4,743 120 10,804 42 4,743 164 14,668
Hunan 16 55 5,715 105 8,319 56 5,855 133 10,178
Guangdong 25 136 15,823 405 39,220 138 16,128 522 50,834
Guangxi 14 13 1,645 49 4,016 13 1,645 69 5,939
Hainan 8 9 1,075 37 3,905 9 1,075 41 4,185
Chongqing 1 15 1,525 71 5,642 15 1,525 97 7,239
Sichuan 27 39 4,317 143 11,546 39 4,317 209 16,557
Guizhou 9 19 1,898 75 6,831 19 1,898 109 10,177
Yunnan 15 9 958 38 3,024 10 1,164 60 4937
Tibet 3 2 218 7 616 2 218 9 843
Shanxi 9 23 2,490 99 9,715 23 2,490 133 12,509
Gansu 12 4 299 34 2,786 5 406 57 4,720
Qinghai 3 4 269 18 1,461 4 269 29 2,144
Ningxia 5 3 377 16 1,466 4 522 25 2,193
Xinjiang 14 4 455 30 2,075 7 828 45 3,303
Total 451 760 88,406 3,132 284,508 790 92,971 4,249 378,475
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Note: Domestic contracted hotels are 5,039 in total, including 3,892 in operation and 1,147 about to be
open. The calculation as the same below.
(2) Overseas Business Operation
During January to June 2016, the Company obtained consolidated operating income EUR 235.88million,
equivalent to RMB 1712.73 million, from overseas limited service franchised hotels, increasing 60.53%
on a year-on-year basis; and net profit attributable to owners of the parent company EUR 6.77 million,
equivalent to RMB 49.17 million, decreasing 29.41% on a year-on-year basis.
Consolidated operating income was increased on a year-on-year basis mainly due to the increased
operating income for two months on a year-on-year basis for the first half of this year of the GDL which
was included in the consolidated financial statements on March 2015. The decrease in net profit
attributable to owners of the parent company was mainly due to the terrorists attacks in France and other
regions.
The location overseas and the total number of economy hotels and rooms at 30 June 2016 are set as
below:
Overseas opened hotels Overseas contracted hotels
OverseasCountry directly-managed inns franchise inns directly-managed inns franchise inns
or area Number Number Number Number Number Number Number Number
of hotels of rooms of hotels of rooms of hotels of rooms of hotels of rooms
Europe 283 21,615 721 49,833 287 22,262 737 51,232
Including: France 196 14,085 634 40,331 196 14,085 644 41,219
Asia 100 12,695 127 18,000
America 41 7,416 42 7,676
Africa 1 70 41 7,194 6 213 54 8,492
Total 284 21,685 903 77,138 293 22,475 960 85,400
Note: overseas contracted hotels are 1,253 in total including 1,187 in operation and 66 to be open, and
the calculation are the same.
3. Business of Limited Service Hotels Operation Analysis by Brands
In the first half of 2016, 2,856 limited service franchised hotels were newly opened in net, including 5
hotels in Jin Jiang Metropolo brand, 58 in Jin Jiang Inn brand, 0 in Bestay Hotels Express brand, 5 in
Première Classe brand, 27 decreased of Jinguang brand and 4 decreased in Campanile brand; 3 added in
Kyriad brand, 22 added in Golden Tulip brand, 121 added in Lavande brand, 49 added in James Joyce
Coffetel brand, 118 added in IU brand, 2,335 added in 7 Days Inn brand, 112 added in π brand and 59
added in other brands.
As of 30 June 2016, of all the opened 5,079 limited service hotels, there are 37 in Jin Jiang Metropolo
brand, 962 in Jin Jiang Inn brand, 65 in Bestay Hotels Express brand, 38 in Jinguang brand, 264 in
Première Classe brand, 374 in Campanile brand, 253 in Kyriad brand, 292 in Golden Tulip brand, 121 in
Lavande brand, 49 in James Joyce Coffetel brand, 118 in IU brand, 2,335 in 7 Days Inn brand, 112 in π
brand and 59 in other brands.
As of 30 June 2016, of all contracted 6,292 limited service hotels, there are 67 in Jin Jiang Metropolo
brand, 1,164 in Jin Jiang Inn brand, 69 in Bestay Hotels Express brand, 67 in Jinguang brand, 267 in
Première Classe brand, 382 in Campanile brand, 254 in Kyriad brand, 339 in Golden Tulip brand, 274 in
Lavande brand, 119 in James Joyce Coffetel brand, 167 in IU brand, 2,701 in 7 Days Inn brand, 202 in π
brand and 220 in other brands.
⑴ Year-on-year RevPAR Comparison among Jinjiang Brands including Jin Jiang Metropolo,
Jin Jiang Inn etc.
The RevPAR of the four hotel brands (Jin Jiang Metropolo, Jin Jiang Inn, Jinguang and Bestay Hotel
Express) from January to June 2016 and the comparative figures at the same period of 2015 were listed
as below:
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Average room Rate Average occupancy rate RevPAR
(RMB/room) (%) (RMB/room)
Brands
Jan- Jun Jan- Jun Jan- Jun Jan- Jun Jan- Jun Jan- Jun Flux (%)
2016 2015 2016 2015 2016 2015
Jin Jiang Metropolo 311.99 306.04 70.12 67.25 218.77 205.81 6.30
Jin Jiang Inn 182.13 178.45 75.38 77.99 137.29 139.17 -1.35
Jinguang 151.97 163.47 56.79 55.10 86.30 90.07 -4.19
Bestay Hotel express 99.32 110.46 62.59 62.28 62.16 68.79 -9.64
Average 183.80 180.06 74.09 75.92 136.18 136.70 -0.38
Note: Business tax has been replaced with value-added tax since May 2016. During the reporting period,
turnover tax was not included in the average room rate and RevPAR in May and June.
As of 30 June 2016, above limited service franchise hotels covered 339 cities among 31 provinces,
autonomous regions and municipalities directly under control of the central government of PRC, as well
as 2 overseas countries or regions.
⑵ RevPAR of Brands Including Lavande, James Joyce Coffetel etc.
The RevPAR of Lavande, James Joyce Coffetel, IU, π, 7 Days Inn and other brands in Plateno Group
from March to June 2016 was listed as below:
March to June 2016 March to June 2016 March to June 2016
Average room rate Average occupancy rate RevPAR
Brand (RMB/Room) (%) (RMB/Room)
Lavande 260.16 79.14 205.89
James Joyce Coffetel 234.95 61.84 145.29
IU 164.93 81.14 133.82
7 Days Inn 141.52 83.05 117.53
π 135.37 78.34 106.05
Other brands 239.02 52.69 125.94
Average 149.01 81.81 121.91
Note: Business tax has been replaced with value-added tax since May 2016. During the reporting period,
turnover tax was not included in the average room rate and RevPAR in May and June.
As of 30 June 2016, above limited service hotels covered 361 cities among 31 provinces, autonomous
regions and municipalities directly under control of the central government of PRC, as well as 8
overseas countries or regions.
⑶ RevPAR of Brands Including Campanile, Golden Tulip etc.
The RevPAR of Première Classe, Campanile, Kyriad, and Golden Tulip from January to June 2016 was
listed as below:
Average room rate (EUR/Room) Average occupancy rate (%) RevPAR (EUR/Room)
Brands January to June March to June January to March to January to June March to June
2016 2015 June 2016 June 2015 2016 2015
Première Classe 40.26 39.94 62.55 68.08 25.18 27.19
Campanile 59.14 59.03 62.87 67.80 37.18 40.02
Kyriad brand 62.90 63.80 58.49 63.68 36.79 40.63
Golden Tulip brand 69.09 75.62 54.70 57.30 37.79 43.33
Average 58.37 58.72 59.40 64.48 34.67 37.86
As of 30 June 2016, above limited service hotels covered 15 cities among 7 provinces, autonomous
regions and municipalities directly under control of the central government of PRC, as well as 59
overseas countries or regions.
In the third quarter of 2016, limited service hotels operation would be forecasted to bring operating
income amounting to RMB 2,893 million to 3,197 million, including domestic income from RMB 2,033
million to 2,247 million, overseas income from EUR 119.40 million to 132 million. Due to the
uncertainty in the process of operation, the forecasted data would be different from the final data from
the report, thus the forecast was only for reference.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Business of Food and Catering
In the first half of 2016, business of food and catering brought consolidated operating income amounting
to RMB 121.01 million, decreasing by 3.04% on a year-on-year basis which was mainly due to
increased operating income from Jin Jiang Food engaged in group meals services and decreased
operating income from Jinya Catering engaged in Chinese fast food chain service on a year-on-year basis.
Net profit RMB 78.92 million was attributable to food and catering segments, increasing by 175.85% on
a year-on-year basis which was mainly due to the following two events: 1) Operating income of
Shanghai KFC was increased on a year-on-year basis and the investment income obtained by the
Company was increased by RMB 31.88 million; 2) the Company’s dividends of 2015 in Suzhou KFC,
Wuxi KFC and Hangzhou KFC accounted under cost method was increased by 14.18million than that of
prior year.
Operating income and number of restaurant of food and restaurant business in the first half of 2016 are
listed as below:
Shanghai Jin Jiang International Food & Catering Management Co.,Ltd., of which the Company holds 100%
equity interest. In the first half of 2016, Jin Jiang Food accomplished Operating income amounting to
RMB73.44 million, increased by 23.55% as compared with the same period of previous year. At the end
of reporting period, there were 52 restaurants managed, and there were 49 restaurants managed for the
prior year.
Shanghai Jinya Catering Management Co.,Ltd., of which the Company holds 100% equity interest, in the
first half of 2016 accomplished Operating income amounting to RMB33.57 million, decreased by 32.50%
as compared with the same period of previous year. At the end of reporting period, there were 35
restaurants managed including 5 snack shops, and there were 42 restaurants managed including 9 snack
shops for the prior year.
Shanghai New Asia Food Co., Ltd., of which the Company holds 100% equity interest, accomplished
operating income amounting to RMB 2.05 million in the first half of 2016, decreased by 8.07% as
compared with the same period of previous year.
Shanghai Jinzhu Catering Management Co., Ltd., of which the Company holds 100% equity interest,
accomplished operating income amounting to RMB 5.69 million in the first half of 2016, decreased by
22.80% as compared with the same period of previous year. At the end of the reporting period, there
were 2 restaurants, the same as the end of 2015.
Shanghai Jin Jiang Tung Lok Catering Management Inc, of which the Company holds 51% equity
interest, accomplished operating income amounting to RMB 9.09 million in the first half of 2016,
decreased by 7.81% as compared with the same period of previous year. At the end of the reporting
period, there were 2 restaurants, the same as the end of 2015.
Shanghai Yoshinoya Co., Ltd., of which the Company holds 42.815% equity interest, accomplished
operating income amounting to RMB 18.91million in the first half of 2016, decreasing 12.53% as
compared with the same period of previous year. At the end of the reporting period, Shanghai Yoshinoya
Co., Ltd was operating 9 chain restaurants, and consistently at the end of prior year.
Shanghai Kentucky Fried Chicken Co., Ltd, of which the Company holds 42% equity interest,
accomplished operating income amounting to RMB 1.46907 billion in the first half of 2016, increasing
by 8.94% as compared with the previous year. At the end of the reporting period, Shanghai Kentucky
was operating 304 chain restaurants, and consistently at the end of prior year.
Fulfillment of Social Responsibility
In the pursuit of maximizing shareholders' interest, the Company values the sustained profitable with
great importance and places the social responsibility at the core in order to achieve a win-win situation
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
between the corporate economic efficiency and social benefits.
Being committed to the society and human being, the Company makes all efforts to protect environment.
Economy hotels such as “Jin Jiang Metrepolo” and “Jin Jiang Inn” built by national eco-friendly
standards are with brand new concepts of "green economy hotels". For example, water recycling system,
like collecting the rainwater for flushing and watering, was introduced in those cities located in fresh
water shortage areas. Meanwhile, a series of environment-friendly settings such as high-efficient air
interchanger and insulation building materials and energy measurement monitoring system have been
used in designing hotels. The indoor construction materials used in Jin Jiang Inn were double tested by
both engineering department and external authority institution to assure the materials reached national
environment-friendly quality. In order to provide a safe accommodation, Jin Jiang Inn detected and
strengthened the building structure to reach national aseismic standards and introduced advanced
infrared security system. The green idea is fully involved in economy hotels design, equipment and
materials used, service, operation and management to stress the concept of "safe, healthy, comfortable
and professional" of economy hotels like Jin Jiang Inn.
The Company is consistently focusing on improving salaries and benefits of employees. Furthermore,
the Company bought the insurance of employer's responsibilities to enhance the protection of safety and
life of employees, good effect was obtained.
(i) Analysis of Principal Operation and Performance
1. Changes of Accounts in Income Statement and Cash Flow Statement
Unit: RMB
From 2016.1.1 to From 2015.1.1 to
Item Flux (%)
2016.6.30 2015.6.30
Operating income 4,368,181,085.26 2,489,329,045.96 75.48
Operating cost 434,096,326.04 225,004,836.43 92.93
Selling expenses 2,618,711,542.75 1,343,102,815.39 94.97
Administrative expenses 960,758,802.61 614,392,008.62 56.38
Financial expenses 229,518,074.47 77,192,054.76 197.33
Impairment losses on assets 14,509,980.72 116,396.90 12,365.95
Investment income 333,004,292.47 229,954,968.09 44.81
Investment income from associates and joint ventures 50,550,196.85 18,393,650.93 174.82
Non-operating income 73,500,212.36 26,962,379.27 172.60
Gains arising from disposal of non-current assets 10,884,656.02 442,917.09 2,357.49
Non-operating expenses 13,456,304.48 2,332,297.36 476.95
Loss on disposal of non-current assets 3,907,744.46 1,578,932.46 147.49
Net cash flows from operating activities 762,561,844.39 372,083,696.05 104.94
Net cash flows from investing activities -8,248,288,904.42 -2,361,438,836.48 N/A
Net cash flows from financing activities 9,701,010,615.97 1,830,814,870.01 429.87
The Company completed equity transaction by end of February 2016 and included Plateno Group in the
consolidated financial statements. From March to June 2016, the Plateno Group obtained operating
income amounting to RMB 1,202.68 million of which net profit attributable to the parent company was
RMB 44.06 million; net cash inflows arising from operating activities amounting to RMB 305.6 million,
net cash outflows arising from investing activities amounting to RMB 8.9 million, and net cash inflows
arising from financing activities amounting to RMB 43.92 million. Above events caused major changes
in amounts of consolidated income statement and consolidated cash flow statement of the Company
while comparing with those of prior year on a year-on-year basis. The following analysis will no longer
not include changes in amounts and its reasons incurred by above events.
In the reporting period, Changes in amount and its main reasons for items in the consolidated income
statement and cash flow statement are specified as below:
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
⑴ Operating Income
Operating income for current period and previous period are RMB 4,368,181,085.26 and RMB
2,489,329,045.96 respectively, increased by 75.48% on a year-on-year basis which was mainly due to
the growing business in limited service hotels and the group meal in food and catering business.
⑵ Financial Expenses
There was RMB 229,518,074.47 for the current period while RMB 77,192,054.76 for prior period,
representing an increase of 197.33% on a year-on-year basis, which was mainly due to borrowings from
banks for the 81.0034% equity acquisition in Plateno Group in the reporting period.
⑶ Investment Income
There was RMB 333,004,292.47 for the current period while RMB 229,954,968.09 for prior period,
representing an increase of 44.81% on a year-on-year basis, which was mainly due to the following
increased income or revenue on a year-on-year basis to the Company in the reporting period: income
before tax under available-for-sale financial assets and cash dividends held by the Company, operating
income from Shanghai KFC and the investment income.
⑷ Investment Income in Associates and Joint Ventures
There was RMB50,550,196.85 for the current period while RMB18,393,650.93 for prior period,
representing an increase of 174.82% on a year-on-year basis, which was mainly due to increased
operating income from Shanghai KFC and increased investment income, etc.
⑸ Non-operating Income
There was RMB73,500,212.36 for the current period while RMB26,962,379.27 for prior period,
representing an increase of 172.60% on a year-on-year basis, which was mainly due to increased amount
of received government grants and the reversal of estimated litigation compensation of GDL. .
⑹ Net Cash Flows from Operating Activities
There was RMB 762,561,844.39for the current period while RMB372,083,696.05 for prior period,
representing an increase of 104.94% on a year-on-year basis, which was mainly due to increased
amounts of received governments grants and interest income from bank deposits as well as increased
amount of prepaid income tax.
⑺ Net Cash Flows from Investing Activities
There was RMB -8,248,288,904.42 for the current period while RMB -2,361,438,836.48 for prior period,
representing an increased net outflows RMB5,886,850,067.94 which was mainly due to consideration
payment for 81.0034% equity acquisition in Plateno Group.
⑻ Net Cash Flows from Financing Activities
There was RMB 9,701,010,615.97 for the current period while RMB 1,830,814,870.01 for prior period,
representing an increase of 429.87%, which was mainly due to decreased debt payment and increased
dividends distribution and interest payment.
2. Others
⑴ Details on Significant Changes of Profits sources
As mentioned above, the Company is mainly engaged in business of limited service hotels operation and
management, and the business of food and catering. Meanwhile, the Company holds a certain amount of
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
available-for-sale financial assets (include but not limited to stocks of Changjiang Securities). The
profits of the Company are mainly composed of above three components. Hence, changes in profits in
the reporting period were mainly caused by: 1) net profits from hotel business was decrease by 10.08
million which was mainly due to terrorists attacks in France and other regions, profits from overseas
hotel business was decreased by 20.49 million; 2) investment income from Shanghai KFC, Hangzhou
KFC, Suzhou KFC and Wuxi KFC was increased by RMB 46.06 million; 3) income before tax from
disposal of stocks in Changjiang Securities was increased by 46.14 million.
⑵ The Financing Activity in Early Stage and Significant Assets Reorganization Progress
Analysis
For details please reference to the "Details for usage of raised fund" in this Chapter.
⑶ Operating Plan Progress Analysis
Pursuant to the operation plan of the Company made for this year, it was projected to realize RMB 6,438
million operating income. The actual operating income for the period was RMB 4,368.18 million,
accomplishing an increment of 67.85% , which was mainly from the completion of 81.0034% equity
acquisition in Plateno Group and inclusion of it into the consolidated financial statements.
(ii) Principal Operation and Performance by Industries, by Products or by Regions
1. Principal Operation Analysis by Industries or by Products
Unit: RMB
Principal Operation analysis by industries
Changes in Changes in
Operating Gross Changes in gross
By Industry Operating cost operating operating
income margin (%) margin (%)
income (%) cost (%)
Limited service hotels Decreased by
operation & 4,247,058,545.83 374,071,062.44 91.19 79.63 125.91 1.80 percentage
management point
Decreased by 1.99
Food and restaurants 121,007,908.32 60,014,967.58 50.40 -3.04 1.00
percentage point
Decreased by
Others 114,631.11 10,296.02 91.02 -12.62 N/A 8.98 percentage
point
Decreased by 0.90
Total 4,368,181,085.26 434,096,326.04 90.06 75.48 92.93
percentage point
2. Principal Operation and Performance by Regions
In the reporting period, the Company newly included operating income from March to June 2016 of
Plateno Group, which was categorized as domestic operating income. Compared with prior period, the
Company newly included operating income from January to February of GDL, which was categorized as
overseas operating income. Operating income by regions is set out below:
Unit: RMB
Area Operating Income Flux (%)
Domestic 2,650,509,160.94 86.34
Including：Shanghai 712,170,913.85 14.34
Out of Shanghai 1,938,338,247.09 142.42
Outside of China Mainland 1,717,671,924.32 60.99
Total 4,368,181,085.26 75.48
Note: Outside of China Mainland including the Hong Kong special administrative region of China,
Macao special administrative region of China, Taiwan region, France, Poland, Britain, Dutch, Germany,
Spain, Italy, Portugal and other countries (or regions).
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
(iii) Remarks on Assets and Liabilities
Analysis of the balance sheet items from January to June 2016 is as follows:
Unit: RMB
Changes
Item 30 June 2016 31 December 2015
Amount %
Cash and bank balances 7,464,223,069.79 4,741,841,642.55 2,722,381,427.24 57.41
Accounts receivable 603,034,300.17 437,288,801.40 165,745,498.77 37.90
Prepayments 279,318,561.14 61,504,108.88 217,814,452.26 354.15
Interest receivable 45,714,158.69 34,953,185.30 10,760,973.39 30.79
Dividends receivable 68,274,708.57 10,121,932.50 58,152,776.07 574.52
Other receivable 865,942,120.49 158,878,996.18 707,063,124.31 445.03
Inventory 72,027,061.88 50,705,754.23 21,321,307.65 42.05
Other current assets 226,974,468.67 162,367,618.94 64,606,849.73 39.79
Intangible assets 6,567,100,242.85 2,455,945,267.19 4,111,154,975.66 167.40
Goodwill 10,169,998,341.56 4,216,472,381.60 5,953,525,959.96 141.20
Long-term deferred expenses 2,594,587,721.48 1,499,352,322.69 1,095,235,398.79 73.05
Short-term borrowings 12,477,409,189.73 5,209,091,457.30 7,268,317,732.43 139.53
Accounts payable 1,584,854,569.97 938,139,369.55 646,715,200.42 68.94
Receipts in advance 525,509,384.05 194,397,097.20 331,112,286.85 170.33
Employee benefits payable 452,263,357.33 330,702,963.14 121,560,394.19 36.76
Interest payable 42,373,562.03 20,116,572.30 22,256,989.73 110.64
Other payables 836,064,260.37 347,977,468.02 488,086,792.35 140.26
Non-current liabilities due
2,873,595,035.92 21,093,804.60 2,852,501,231.32 13,522.93
within one year
Provisions 21,847,270.48 58,341,294.70 -36,494,024.22 -62.55
Deferred income tax liabilities 2,397,695,649.58 1,471,362,640.99 926,333,008.59 62.96
Other non-current liabilities 146,219,356.34 79,356,841.02 66,862,515.32 84.26
Minority interests 1,240,103,544.17 190,706,260.51 1,049,397,283.66 550.27
The Company completed equity transaction by end of February, and then included Plateno Group into
consolidated financial statements. On 30 June 2016, total assets in the consolidated financial statements
of Plateno Group was RMB7.5 billion, of which 3.4 billion was attributable to the parent company.
These events caused major changes in closing balance of items in balance sheet for the current period
compared with that of prior period. The following analysis will no longer include changes in amounts
and its reasons incurred by above events.
Remarks and reasons of fluctuations on cash flow statement’s items during the reporting period:
⑴ Cash and Bank Balances
There closing balance was RMB 7,464,223,069.79 while RMB 4,741,841,642.55 for opening balance,
representing an increase of 57.41% which was mainly due to increased borrowings.
⑵ Accounts Receivable
The closing balance was RMB 603,034,300.17 while RMB 437,288,801.40 for opening balance,
representing an increase of 37.90 % which was mainly due to increased accounts receivable from
customers of Jin Jiang Inn and Hotels Investment.
⑶ Interest Receivable
The closing balance was RMB 45,714,158.69 while RMB 34,953,185.30 for opening balance,
representing an increase of 30.79% which was mainly due to the company's increased deposit principal
at banks.
⑷ Dividends Receivable
18 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
There was closing balance RMB 68,274,708.57 while RMB 10,121,932.50 for opening balance,
representing an increase of 574.52% which was mainly due to 2015 dividends receivables from
Hangzhou KFC, Wuxi KFC, Suzhou KFC and Shanghai KFC at the end of the reporting period.
⑸ Other Receivables
The closing balance was RMB 865,942,120.49 while RMB 158,878,996.18 for opening balance,
representing an increase of 445.03% which was mainly due to consideration receivable(to be adjusted)
for equity acquisition in Plateno Group.
⑹ Other Current Assets
The closing balance was RMB 226,974,468.67 while RMB 162,367,618.94 for opening balance,
representing an increase of 39.79% which was mainly due to prepaid enterprise income tax for the first
quarter.
⑺ Short-term Borrowings
The closing balance was RMB 12,477,409,189.73 while RMB 5,209,091,457.30 for opening balance,
representing an increase of 139.53% which was mainly due to increased RMB borrowing from banks by
the Company.
⑻ Interest Payable
The closing balance was RMB 42,373,562.03 while RMB 20,116,572.30 for opening balance,
representing an increase of 110.64% which was mainly due to increased borrowing principal from banks
at the end of the reporting period.
⑼ Non-current Liabilities due within One Year
The closing balance was RMB 2,873,595,035.92 while RMB 21,093,804.60 for opening balance,
representing an increase of 13,522.93% which was mainly due to the 30% long-term borrowing from
banks with maturity in May 2017 for the purpose of equity acquisition in GDL.
(iv) Analysis of Core-competitiveness
The Company has been making great efforts for about 20 years and has been achieving
core-competitiveness. In accordance with the overall goals of development strategy, the Company will
make further efforts to enhance the advantages in management, brand, network and talent, and to build
and consolidate the leading position in limited service hotel market.
During reporting period, in order to improve self-core-competiveness, the Company has major actions as
below:
After acquisition of all equity in GDL by end of February 2015, the Company completed 81.0034%
equity acquisition in Plateno Group in the reporting period. Compared with prior year-end (or prior year),
there was significant growth in the Company's total assets, operating income, cash flows, hotels and
hotel rooms.
As of 30 June 2016, members of Jin Jiang Metropolo amounted to 24.845 million people in total, of
which silver members accounted for 18.314 million while gold members accounts for 6.528 million; and
members of Plateno Group was increased by 87.932 million people. In total, members of all kinds
amounted to more than 100 million people.
In the first half of 2016, in the 2016 Asia Hotel Forum 11th China Hotel Starlight Award Ceremony,
Shanghai Jin Jiang Metropolo Hotel Investment Management Co., Ltd was awarded as "The Most
19 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Development Potential Hotel Group Award", "Jin Jiang Metropolo" and “Hampton Hilton” brand were
awarded as the honorary title of "The Best Mid-priced Hotel Brand", Jin Jiang Inn brand was awarded as
"The Most Popular Economical Chain Hotel Brand", Mansion Albar brand was awarded as "The Most
Popular Cultural Theme Boutique Hotel" and IU brand was awarded as "The Most Development
Potential Hotel Brand in 2015"; In the 2nd China Hotels Golden Ray Award activity, Jin Jiang
Metropolo brand was awarded as "The Most Popular Limited Service Hotel Brand", Jin Jiang Inn brand
was awarded as "The Leading Brand in Economy Hotels in China"; In the 16th China Hotels Golden
Horse Award activity organized by China Hotel Association Commission, Jin Jiang Metropolo brand
was awarded as "The New and Potential Hotel Brand", Jin Jiang Inn was awarded as "The Best Brand
for Hotel Investment", James Joyce Coffetel brand was awarded as "The Best Brand for Chain Hotel
Investment" and "The Most Creative Theme Hotel Brand", IU brand was awarded as "The 'Internet Plus'
Benchmark Brand for Hotels in China"; The Meadin website awarded Jin Jiang Metropolo brand and
Lavande brand with "2015 Top 10 Influential Mid-priced Limited Service Hotels in China" and Jin Jiang
Inn brand and 7 Days Inn brand with "2015 Top 10 Influential Economy Hotel Brands"; China Chain
Store & Franchise Association awarded Jin Jiang Metropolo brand with "2015 Outstanding Franchised
Brand in China"; Jin Jiang Inn brand was included in the "Top 100 Valuable China Brands in the 6th
BrandZTM" and was successfully selected as top 10 fast growing brands.
(v) Details for the Investments of the Company
1. Overall Analysis for the Equity Investment
During the reporting period, the amount of equity investment was RMB 8,226.62 million, increasing
RMB 7,565.21 million by 1,143.80%.
⑴ In January, GDL, the wholly-owned subsidiary of the Company, contributed EUR 20,500,000,
equivalent to RMB 145,451,600, to pay for 100% equity acquisition in 9 companies including Nordic
Hotel AG Kiel GmbH, Nordic Hotels Düsseldorf GmbH, Nordic Hotels München GmbH, Nordic Hotels
Hamburg GmbH, Nordic Hotels Berlin GmbH, Nordic Hotels Dnischer Hof Betriebs GmbH, Nordic
Hotel Bielefeld GmbH, DOMICIL Hotel Betriebs GmbH and Nordic Hotels Lübeck GmbH. As of 30
June 2016, GDL held 100% equity interest in aforementioned companies.
⑵ In February, the Company contributed RMB 8,081,170,000 to pay for 81.0034% equity acquisition
in Plateno Group. As of 30 June 2016, the Company holds 81.0034% equity in Plateno Group and the
equity consideration is subject to possible adjustments.
2. Other Listed Companies and Non-listed Financial Enterprises
⑴ Equity Investment
√Applicable □Not applicable
Initial Book value at Equity shares Profit or loss for
Stock Abbreviation of
# Kind Investment Holding Quantity period end of the invested the reporting
code the stock
(RMB) (RMB) Company (%) period(RMB)
1 Stock 000166 Shenwan Hongyuan 10,000,000.00 11,088,566 93,254,840.06 9.78 1,663,284.90
Changjiang
2 Stock 000783 125,998,024.26 73,500,000 852,599,999.99 89.42 233,026,728.39
Securities
3 Stock 002186 Quanjude 56,408.72 95,608 1,872,960.72 0.20 21,033.76
Bank of
4 Stock 601328 1,540,945.00 1,013,771 5,707,530.73 0.60 0.00
Communications
Total 137,595,377.98 / 953,435,331.50 100% 234,711,047.05
Note 1: Profit or loss for the reporting period represents the cash dividend income and the disposal of
stocks for the reporting period.
2: As at 31 December 2015, the Company holds 96 million shares in Changjiang Securities,
accounting for 2.02% of the total equity in Changjiang Securities. From 21 March to 22 March 2016, the
Company disposed 20 million shares in Changjiang Securities through Shenzhen Security Exchange,
and obtained investment income before tax as RMB 183.482 million after deducting cost and related
taxes and expenses; on 22 June 2016, the Company deposed 2.5 million shares in Changjiang Securities
20 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
through Shenzhen Securities Exchange and obtained investment income before tax as RMB 22.945
million after deducting cost and related taxes and expenses. As of 30 June 2016, the Company holds
73.5 million shares in Changjiang Securities, accounting for 1.55% of the total equity in Changjiang
Securities.
⑵ Equity Interest of Other Listing Companies Held by the Company
□Applicable √Not applicable
⑶ Equity Interest of Finance Companies Held by the Company
□Applicable √Not applicable
3. Details for Entrusted Financing and Derivatives Investment of Non-financial Companies
⑴ Entrusting for financing
□Applicable √Not applicable
21 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
⑵ Entrusted Loans
√Applicable □Not applicable
Events for entrusted loans
As of 30 June 2016, the Company provided the following entrusted loans:
Unit: RMB 0'000
Source of
RPT Laws RPT Expected
Entrusting party Borrower Amount Maturity Rate (%) Purpose Guarantor Overdue Extension funds
transaction uit Relationship income
(Placement)
Jin Jiang Shares Jinya Catering 450 12 months 3.393 Capital turnover No None None None None None Wholly-owned subsidiary 15.3
Jin Jiang Shares Jinya Catering 400 12 months 3.48 Capital turnover No None None None None None Wholly-owned subsidiary 13.9
Jin Jiang Shares Jinya Catering 500 12 months 3.48 Capital turnover No None None None None None Wholly-owned subsidiary 17.4
Jin Jiang Shares Jinya Catering 300 12 months 3.48 Capital turnover No None None None None None Wholly-owned subsidiary 10.4
Jin Jiang Shares Jinzhu Catering 50 12 months 3.393 Capital turnover No None None None None None Wholly-owned subsidiary 1.7
Jin Jiang Shares New Asia Food 100 12 months 3.48 Capital turnover No None None None None None Wholly-owned subsidiary 3.5
Jin Jiang Metropolo Jin Jiang Shares 5,000 12 months 3.06 Capital turnover No None None None None None Parent 153.0
Shanghai Jinhua
Jin Jiang Inn Hotels Investment 800 12 months 1.2 Capital turnover No None None None None None Controlling subsidiary 9.6
Co., Ltd.
Shanghai Xinjin
Hotels Investment Hotel Management 900 24 months 4.848 Capital turnover No None None None None None Joint stock company 87.3
Co., Ltd.
Shenyang Jinfu
Hotels Investment
Hotels Investment 550 24 months 1.2 Capital turnover No None None None None None Controlling subsidiary 13.25
Management Co.,
Ltd.
Hohhot Jinlv
Investment
Hotels investment 1,070 12 months 1.2 Capital turnover No None None None None None Parent 12.8
Management Co.,
Ltd.
7 Days Hotel
Franchisee of Plateno Within 24
(Guangzhou) Co., 3,885 10-12 Capital turnover Yes None None None None None Franchisee 917.2
Hotel Brand. months
Ltd.
7 Days Hotel
Franchisee of Plateno
(Guangzhou) Co., 227 24-36 months 10 Capital turnover Yes None None None None None Franchisee 57.6
Hotel Brand
Ltd.
7 Days Hotel
Franchisee of Plateno Within 24
(Guangzhou) Co., 158 12 Capital turnover Yes None None Extension None None Franchisee 33.9
Hotel Brand months
Ltd.
Note: The purpose to provide entrusted loans to 7 Days Hotel (Guangzhou) Co., Ltd., a wholly-owned subsidiary of Keystone Lodging Holdings Limited, is to
satisfy the requirements of hotel business expansion of the Company. At the end of February 2016, Plateno Group was included in the scope of consolidation of the
Company’s consolidated financial statements.
22 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
⑶ Other Investment
√Applicable □ Not applicable
A finance lease agreement with validity period of 12 years has been made and entered into by and
between GDL, the wholly-owned subsidiary of the Company, and HOTELS - Htels du pont de
Suresnes, where the interest rate of the rent payable is carried in floating rate. Therefore, for the purpose
to decrease cash flow risk exposed to such finance lease rent payment, GDL has purchased an interest
rate swap contract aiming to such finance lease payment (equivalent to RMB 122 million at the end of
the reporting period), in which the floating interest rate was replaced by fixed interest rate. At the end of
the reporting period, the fair value of this cash flow hedging instrument was equivalent to RMB 7.73
million.
4. Details for Usage of Raised Fund
⑴ Overall Details for Usage of Raised Fund
√Applicable □Not applicable
Unit: RMB 0'000
The total use
amount of The total The Total
Year of The total amount of Purpose and going for
Method of raising fund fund during cumulative use Amount of fund
raising fund fund fund not used
the reporting amount of fund not used
period
2014 Non-public Offering 303,525.72 7,688.22 124,802.78 181,287.14 Deposit in specific
accounts
Total / 303,525.72 7,688.22 124,802.78 181,287.14 /
Overall details for replacement use In the first half of 2016, RMB 76.8822 million raised-fund was utilized
for expansion of Jin Jiang Inn; as of 30 June 2016, the Company
accumulated utilized RMB 1,248.0278 million raised-fund and the
unutilized amount was RMB 1,812.8714 million (including deposit
interest income)
⑵ Project Commitment Details for Replacement Use
√Applicable □Not applicable
Unit: RMB 0'000
The reasons for
Whether Raised fund The Total Whether Explain for
Raised fund in accordance Planned Generate the change and
Commitment Project can invested this Cumulative Use Progress meet the un-meet of
plan to invest with plan Profit earnings raise money
change period Amount of fund plan the target
change procedures
Supplement for the
business scale and the
funds required for the No 203,525.72 7,688.22 24,802.78 Yes 12.19 N/a N/a N/a N/a N/a
development in the
next three years
Repayment of
short-term bank No 100,000.00 0 100,000.00 Yes 100 N/a N/a N/a N/a N/a
borrowing
Total / 303,525.72 / / / / / /
Raise fund commitment project usage instructions
⑶ Project Change Details for Replacement Use
□Applicable √Not applicable
23 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
5. Business Operation and Performance of Principal Subsidiaries and Invested Companies
Unit: RMB 0'000
Shareholding Net assets of 2016 2016
Registered
percentage on parent company Jan-Jun Jan-Jun
Company name Principal Business capital on 30
30 June 2016 on 30 June Operating Net profit of
June 2016
(Note 5) 2016 Income parent
I. Business of limited service hotels
(Principal):
Operation and
1. Shanghai Jin Jiang Metropolo Hotel
management of limited 100% 5,000 8,042 6,014 2,652
Investment Management Co., Ltd
service
Leasing, operation and
2. Jin Jiang Inn Co., Ltd. management of limited 100% 17,971 64,883 70,973 8,493
service hotels
3. Shanghai International Hotels Investment
Hotels investment 100% 152,500 193,279 36,898 -2,605
Co., Ltd.
Leasing, operation and
Including subsidiary: Shanxi Jinguang
management of limited 100% 6,833 13,495 3,116 215
Management Co., Ltd. (Note 1)
service hotels
Operation of hotel and
4. Smartel Hotel Management Co., Ltd catering of limited 100% 60,000 59,879 11,221 669
service hotels
5. Shanghai Jinlu Investment Management
Investment management 100% 35,000 60,219 171,273 5,638
Co., Ltd
Including subsidiary: GDL. (Groupe du Operation of hotel and EUR 262.04 EUR 145.99 EUR 235.88 EUR 14.45
100%
Louvre)(Note 2) catering million million million million
6、Keystone Lodging Holdings Limited (Note
Hoteloperationandcatering 81.0034% USD 10,000 339,250 120,268 4,406
3)
Operation of hotel and
7. Shanghai Jin Jiang Da Hua Hotel Co., Ltd. 100% 3,170 -788 835 -84
catering
Operation of hotel and
8. Shanghai Minhang Hotel Co., Ltd 100% 769 505 1,458 74
catering
II. Business of food and catering (Principal):
Development and
1. Shanghai Jin Jiang International Catering Management of
100% 14,993 -2,074 12,347 -1,495
Investment Co., Ltd. restaurants, domestic
trading
Including subsidiary:
(1)Shanghai Jin Jiang International Food & Catering 100% 1,000 1,485 7,344 391
Catering Management Co.,Ltd (Note 4)
(2)Shanghai New Asia Café de Catering of Chinese and
100% 6,867 -3,174 3,357 -832
Coral Co., Ltd. (Note 4) western cuisine
Production of moon
(3)Shanghai New Asia Food(Note 4) 100% 1,142 -344 205 -312
cakes and frozen food
(4)Shanghai Jinzhu Catering Management
Catering 100% 1,000 -1,235 569 -307
Co.,Ltd(Note 4)
(5)Shanghai Jin Jiang Tung Lok Catering Catering of Chinese and
51% 1,890 17 909 -138
Management Inc (Note 4) western cuisine
Associated Companies: Operations of Japanese USD 12.30
42.815% 425 1,891 -69
(1)Shanghai Yoshinoya Co., Ltd.(Note 4) fast food million
USD 3.83
(2)Shanghai Jing An Bakery Co., Ltd(Note 4) Bakery 14.63% 195 4,877 -504
million
Operations of western USD 27.01
2. Shanghai Kentucky Fried Chicken Co., Ltd. 42% 35,243 146,907 11,450
fast food million
3. Shanghai New Asia Fulihua Catering Operations of Chinese
41% 3,500 6,469 12,358 702
Co.,Ltd. restaurants
4. Hangzhou Kentucky Fried Chicken Co., Operations of western USD 21.50
8% 45,640 217,503 27,222
Ltd. fast food million
Operations of western USD 3.348
5. Wuxi Kentucky Fried Chicken Co., Ltd. 8% 10,318 61,709 5,263
fast food million
Operations of western USD 10
6. Suzhou Kentucky Fried Chicken Co., Ltd. 8% 19,379 112,956 11,374
fast food million
III. Others (Principal):
Securities agency and
Changjiang Securities Co.,Ltd. investment consulting 1.55% 474,247 1,602,869 257,572 111,489
business
Note 1: Shanxi Jinguang Management Co., Ltd. is the wholly-owned subsidiary of Shanghai
International Hotels Investment Co., Ltd.
2: 100% equity of GDL (Register in France) is hold by Shanghai Jin Lu through its wholly-owned
subsidiary Shanghai Jin Jiang Shares (Hong Kong) co., LTD and Sailing Investment.
3: At the end of February 2016, the transfer of 81.0034% equity in Keystone Lodging Holdings
Limited has been completed by the Company, hence amounts of operating income and net profits
attributable to the Company listed in statements are data from March to June 2016.
4: Shanghai Jin Jiang International Catering Investment Co., Ltd. holds 82% equity interest of
Shanghai Jin Jiang International Food & Catering Management Co. Ltd., 95% equity interest of
Shanghai New Asia Food Co., Ltd., 100% equity interest of Shanghai Jinzhu Food & Catering
Management Co. Ltd, 100% equity interest of Shanghai Jinya Catering Management Co.,Ltd., 51%
equity interest of Shanghai Tongle Food & Catering Management Co. Ltd. and 42.815% equity interest
of Shanghai Yoshinoya Co., Ltd. In addition, Shanghai Jin Jiang International Catering Investment Co.,
24 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Ltd. holds 14.63% equity interest of Shanghai Jing An Bakery Co., Ltd., and has the capability of
exerting significant influence on Shanghai Jing An Bakery Co., Ltd. The Company holds 100% equity
interest of Shanghai Jin Jiang International Catering Investment Co., Ltd., 5% equity interest of
Shanghai New Asia Food Co., Ltd and 18% equity interest of Shanghai Jin Jiang International Food &
Catering Management Co.,Ltd.
5: Equity interest at the end of the reporting period in above sheet represents total equity interest
held by the Company directly and indirectly.
6. Details for Non-raised Capital Items
√Applicable □Not applicable
During the reporting period, the Company continued to improve constructions and renovations of the
limited service hotels and informationization project in Jin Jiang headquarters, with a new investment of
RMB 166.02 million in total, decreasing by RMB 27.71 million on a year-on-year basis.
(1) The Company paid RMB 82.58 million in total for overall renovations for New Asia Hotel,
Metropole Hotel, Nanjing Hotel, Dafang Hotel, Minhang Hotel and East Asia Hotel.
(2) During the reporting period, the Company's wholly -owned subsidiary of Hotel Investment invested
RMB 51.93 million in total for the construction of stores and overall repair.
(3) During the reporting period, the Company's wholly-owned subsidiary of Jin Jiang Inn paid RMB
21.67million in total, for the overall construction and renovation of stores; paid RMB 3.91 million in
total for the construction of the headquarters for IT projects.
(4) During the reporting period, the Company's subsidiary, Smartel paid RMB 5.93 million in total for
the construction of chain stores and overall repair.
II. The Proposal on Profit Distribution or Capitalization of Reserves
(i) The Proposal and Execution of Cash Dividends Policy
During the reporting period, 2015 profit distribution has been approved by the general meetings of
shareholders. A cash dividend of RMB 4.80 per 10 shares (tax included) for all shareholders on the basis
of the total share capital of 804,517,740 shares at the end of 2015, for which B shareholders are entitled
to a cash dividend of USD. The announcement on resolutions of 2015 shareholders' meetings was
published on Shanghai Securities News and Ta Kung Pao on 23 April 2016.
The announcement of dividend payment was published on Shanghai Securities News and Ta Kung Pao
on 30 April 2016: date of record of A share is 5 May 2016; last trading day of B share is 5 May 2016
and date of record is 10 May 2016; ex-dividend date of A share is 6 May 2016; the dividend payment
date of A share is 6 May 2016; and the dividend payment date of B share is 18 May 2016.
(ii) The Proposal on Profit Distribution or Capitalization of Reserves for the Half Year
Any profit distribution or capitalization of reserves No
for the half year
III. Other Disclosures
(i) Warning and Instructions on Possibility of Cumulative Net Profit as Loss of the Next End the
Reporting Period and Significant Year-on-year Fluctuation
□Applicable √Not applicable
25 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
(ii) Description of the Board of Directors for the CPA firm "non-standard audit report
□Applicable √Not applicable
26 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
V.Significant Events
I. Significant Lawsuits, Arbitrations and common-questioned events of media
□Applicable √Not applicable
II. Bankruptcy and Reorganization
□Applicable √Not applicable
III. Assets Transaction, Enterprise Consolidation
√Applicable □Not applicable
(i) Assets Transaction, Enterprise Consolidation Announced and without Further Changes
Overview and type of events Reference Index
On 18 September 2015，the Company entered into Share Details refer to the Company disclosure of
Purchase Agreement with the following 13 counterparties resolutions of board of directors on 19
including: Prototal Enterprises Limited, Ever Felicitous September 2015; < Jinjiang Significant Asset
Limited, Keystone Asia Holdings Limited, SCC Growth Acquisition Report(draft revised )> On 17
2010-Peak Holdco,Ltd., Sequoia Capital Global Growth October 2015; disclosure of ON
Limited, Jaguar Investment Pte Ltd., Ctrip Investment 28 October 2016; disclosure of
Holding Ltd., Smartech Resources Limited, Chien Lee, on 27 February 2016.
extraordinary shareholders' general meeting approved the
proposal for the acquisition 81.0034% equity of Plateno
Group.
On 28 April 2016, the Company entered into a Share Details refer to disclosure of
Transfer Agreement with Mr. Huang Deman in relation to on 29 April
As of 1 July 2016, the transaction has been completed. 2016; disclosure of on 2
July 2016.
(ii) Undisclosed of temporary announcement or related subsequent progress
□Applicable √Not applicable
IV. Condition and effects of company effects incentive
□Applicable √Not applicable
V. Significant related transaction
√Applicable □Not applicable
27 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
(i) Related Party Transactions in Association with Daily Operation
1. Events Disclosed in Temporary Announcement but with Further Progress or Changes
During reporting period, Jin Jiang Hotels Group entrusted the Company to manage Metropole hotels,
New Asia hotel, Qing Nianhui Hotel, and paid RMB 19.9833 million for entrusted management fee. The
company rented Hua Ting Guest House Hotel, Shanghai, Jinshajiang Hotel and BaiYulan Hotel and paid
related fee RMB 13.1457 million. In addition, the company paid RMB 27.01million to related labor cost
and social securities for Jin Jiang Hotels Group, Qing Nianhui Hotels, Hua Ting Guest House,
Jinshajiang Hotel, and BaiYulan Hotel.
2. Undisclosed Events in Temporary Announcement
√Applicable □Not applicable
Unit: RMB
Proportion in
Related party Transaction Pricing Related Transaction
Related party Content Congener Settlement by
relationship type policy price amount
business (%)
Jin Jiang
International Ultimate holding Limited
Market
(Holdings) Co., Ltd., company, parent Support labor service
price 906,631.46 0.14 Cash
Jin Jiang Hotels Group company and its service management
and their hotel-related subsidiaries fee
subsidiaries
Jin Jiang
Limited
International Ultimate holding
service Market
(Holdings) Co., Ltd., company, parent Support labor
booking price 193,123.91 0.76 Cash
Jin Jiang Hotels Group company and its service
channel
and their hotel-related subsidiaries
fee
subsidiaries
Jin Jiang
International Ultimate holding
Market
(Holdings) Co., Ltd., company, parent Support labor
Credits income price 37,173.74 1.09 Cash
Jin Jiang Hotels Group company and its service
and their hotel-related subsidiaries
subsidiaries
Jin Jiang International
Ultimate holding
(Holdings) Co., Ltd., Market
company, parent Sales of
Jin Jiang Hotels Group Sales price 181,288.14 0.73 Cash
company and its limited hotel food
and their hotel-related
subsidiaries
subsidiaries
Jin Jiang International
Ultimate holding
(Holdings) Co., Ltd., Market
company, parent
Jin Jiang Hotels Group Sales Sales of food price 1,089,386.34 15.89 Cash
company and its
and their hotel-related
subsidiaries
subsidiaries
Jin Jiang International
Ultimate holding Purchase hotel
(Holdings) Co., Ltd., Market
company, parent food
Jin Jiang Hotels Group Sales price 357,599.87 0.16 Cash
company and its And goods
and their hotel-related
subsidiaries
subsidiaries
Jin Jiang Hotels Member Market
Parent company Receive Labor
Group and its integration price 1,282,717.79 100.00 Cash
and its subsidiaries service
subsidiaries services
Jin Jiang Hotels Market
Parent company Receive Labor
Group and its Booking fee price 318,333.48 2.58 Cash
and its subsidiaries service
subsidiaries
Total / / 4,366,254.73 0.47 /
Necessity and sustainability for these related party transactions(non-market other Jin Jiang Inn Co., Ltd., a subsidiary of the Company, provides
transaction) and reasons for choosing of these related parties limited service hotel management services to Jin Jiang
international, Jin Jiang Hotels Group and its subordinate
hotel-related entities. The main purpose is to expand market
share of limited service hotel management.
Explanation of related transactions Agreement of related transactions of daily operation has been
handed in during 13th meeting of 8th board of directors and
approved in 29 March 2016.
28 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
(ii) Others
The Company deposits part of its operation or idle fund into Jin Jiang International Finance Co., Ltd. (an
authorized non-bank finance institution, Jin Jiang International Finance), and the balance at end of
reporting period was approximately RMB 633.74 million and the balance at beginning of reporting
period was approximately RMB1,138.10 million .The Company's 2015 annual shareholders' meeting
convened on 22 April 2016 considered and approved the resolution on making deposit in the Jin Jiang
International Finance: the Company's outstanding deposits in the Jin Jiang International Finance in 2016
shall not exceed RMB 1.2 billion. Interest income derived from the deposit for the reporting period was
RMB 4.74 million.
The subsidiaries of the Company have borrowings from Jin Jiang International Finance Co., Ltd., and
the balance at the beginning was RMB 9 billion and the ending was RMB 9 billion of reporting period.
On 22 April 2016, the general meeting of shareholders considered and approved the resolution on
borrowings from the Jin Jiang International Finance Co., Ltd.: The upper limit of loans from Jin Jiang
International Finance Co., Ltd. for the Company in 2015 was projected to be less than RMB 1.6 billion.
Related interest payment for the first half of 2016 was RMB 18.35 million.
As is stipulated by the Article 12 of 3rd Chapter of Article of Association of
Jin Jiang International Finance, it is committed by the Board of Directors of Jin Jiang
International Holdings Company Limited that in the case of the difficulty in payment of the Company,
Jin Jiang International Holdings Company Limited will supervise and urge Jin Jiang Hotels Group to
inject relevant capital according to the practical demand to settle the difficulty of payment.
To further ensure the security and independence of the company's deposit in Jin Jiang International
Finance, Jin Jiang Hotels Group, the substantial controller of the Company, made commitment on 22
December 2009 as follows:
Based on the precondition that the reorganization is approved and implemented, Jin Jiang Hotels Group
will provide full guarantee for the Company's and its subsidiaries' deposit in Jin Jiang International
Finance and other financial assets as at 31 July 2009, the date of evaluation and audit, and their deposit
in Jin Jiang International Finance and other financial assets thereafter. In the case that Jin Jiang
International Finance fail to repay the deposit and principal and interest of other financial assets of your
Company, Jin Jiang Hotels Group will repay on behalf of Jin Jiang International Finance. Businesses
like capital deposit and withdrawal between the Company and Jin Jiang International Finance are based
on the freewill and independent decision of the two parties. Jin Jiang Hotels Group committed not to
make unitive arrangement on the businesses like capital deposit and withdrawal between the Company
and Jin Jiang International Finance by any means to interfere the normal decision making of the
Company so as to ensure the independence of the finance and the secure of capital. As a result, the
Company shall disclose the deposit and guarantee stated above timely according to certain regulations
(including the periodical disclose in periodical reports and timely disclose of significant events).
VI. Significant Contracts and Fulfillment of Contracts
1. Trusteeship, Contracting or Leasing
□Applicable √Not applicable
29 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
2. Events on Guarantee
√Applicable □Not applicable
Unit: RMB 0'000
Company guaranty conditions (not including subsidiaries guarantee)
Secured party's
completion
relationship secured secured Signed Overdue counter Guarantee related-party
Guarantor From To Type of overdue
with the listed party Amount date Amount guarantee for relationship
implemented
company related-party
Total guarantee amount During the reporting period (not including
subsidiaries guarantee
Rest guarantee amount During the reporting period (not including
subsidiaries guarantee(A)
Guarantee to subsidiary company
Total guarantee amount During the reporting period 60,000
Rest guarantee amount During the reporting period(B) 60,000
Total guarantees (including subsidiaries guarantee
Total guarantee amount(A+B) 60,000
Total Guarantee amount of the net assets (%) 7.56
Including:
provide guarantee for shareholders Actual controllers and their affiliates(C)
guaranteed provide to asset-liability ratio more than 70% debt s Directly or
indirectly (D)
Guarantee on the amount more
than 50% of total net assets(E)
Sum of C,D and E(C+D+E)
Outstanding guarantees on joint liability explain
The 8th meeting of 8th board of directors approved the proposal on providing guarantees to its
subsidiaries: the Company agreed to provide guarantee on its wholly-owned subsidiary Smartel to
borrow the loan no more than RMB 0.6 billion from ICBC Bund Branch with a period of one year and
Guarantee explain
interest rate as 10% lower than the one-year loan interest rate stipulated by central bank. The
aforementioned borrowings was paid on 15 August 2016 while guarantees provided by the Company for
the borrowings was due at the same day.
30 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
VII. Fulfillment of Commitment
√Applicable □Not applicable
(i) During reporting period or continue to reporting period, commitment items of listed company, shareholders who have over 5% of shares, controlling
shareholders and substantial controller
Time and Strict
Background Category Commitment party Content Deadline
term fulfillment
Pursuant to agreement of Assets Replacement, it is noted that 30 inns among the transferred in and acquired assets of Jin
Jiang Inn have the properties’ defects problems. For the purpose of resolving the above defects problems and setting the
timetables, as at 1 March 2010, Jin Jiang International (Holdings) Co., Ltd. acknowledged for below:
1) If Jin Jiang International (Holdings) Co., Ltd. fails to solve the properties’ defects problems within the scheduled
timetable and quantities, which means the amount of the inns to be declined to 20% within 12 months; or to be declined to
10% within 24 months; or to be totally solved within 36 months after the approvals of CSRC, Jin Jiang International
Resolving (Holdings) Co., Ltd will undertake the default penalty for the cancellation of the rental contract and should make the
properties’ defect Jin Jiang compensation by the evaluated amount of the assets at the base date of appraisal (31 July 2009).
Perpetual N Y
problems such as International
land 2） In the future operation of the transferred in and acquired assets, the several lease inns of Jin Jiang Inn may have to
relocate due to the relevant defects. In the case that the lessors couldn’t fully compensate the loss, Jin Jiang International
(Holdings) Co., Ltd. should fully compensate the inns for their loss as the support to relocation and reopening in
accordance with the below calculation. The specific loss amount of an asset should be settled at the higher of the evaluated
amount of the assets at the base date of appraisal (31 July 2009) and total original cost of fixed assets and decoration based
Commitments
upon the audit result of 31 July 2009. After the compensation by Jin Jiang International (Holdings) Co., Ltd, any
regarding to
compensation repayment from the lessors will belong to Jin Jiang International (Holdings) Co., Ltd. Meanwhile, Jin Jiang
reorganization of
International (Holdings) Co., Ltd. should compensate the relevant inns of the fiscal year audited net profit before close to
significant assets
make up for the loss of business during the inn closed.
The reorganization report discloses：On 22 December 2009, Jin Jiang International made a commitment to provide full
guarantee for the whole balance of deposits and all of the other financial assets , which are deposited in Jin Jiang
Jin Jiang
Others International Finance Co., Ltd. by the Company and its subsidiaries from the base date of appraisal (31 July 2009) and Perpetual N Y
International
subsequent dates. For example, Jin Jiang International will pay the deposits and interest for Jin Jiang International Finance
Co., Ltd. to the Company and its subsidiaries when Jin Jiang International Finance Co., Ltd. is unable to pay.
Jin Jiang hotels group provided < Commitment of transactions about preventing horizontal competition> on 28 August
2009,which committed Jin Jiang hotel group and its controlled companies(excluded Jin Jiang international hotels
Jin Jiang development Co., Ltd and affiliated companies, similarly hereinafter) would not do any business which Jin Jiang
Others Perpetual N Y
International international hotels development Co., Ltd has been doing which may trigger any competition, or Jin Jiang hotel group and
controlled companies would transfer these related businesses to Jin Jiang international hotels development Co., Ltd based
on equitable, fair market value.
31 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
VIII. Appointment and Demission of Auditor
□Applicable √Not applicable
IX. Penalty Received by the Listed Company and the Directors, Supervisors, Senior
Management, Shareholders who Owned over 5% of Shares, Substantial Controller, Acquirer and
the Remedial Actions Adopted
□Applicable √Not applicable
X. Convertible Bonds
□Applicable √Not applicable
XI. Corporate Governance
During the reporting period, the company operated standardly according to the "Company Law",
"Securities Law", "Corporate Governance Standards of Listed Company" and other relevant laws,
regulations and requirements. The company continues to improve the structure, mechanism of corporate,
strengthen the standardized operation and information disclosure. The company's actual results of
corporate governance matched the requirements of relevant law and regulations and CSRC.
XII. Other Significant Events
(i) Board's Analysis on the Change in Accounting Policies or Accounting Estimates Calculation
Method
□Applicable √Not applicable
(ii) Board's Analysis on Important Corrections of Prior Period Errors
□Applicable √Not applicable
(iii) Others
As at 8 July 2016, the Company received the (ZJXK[2016]No.1090) issued by CSRC.
Please refer to the Company’s Announcement No.2016-034 for details. This issue of shares was
registered in Shanghai Branch of China Securities Depository and Clearing Co., Ltd on 2 August 2016,
which related to 153,418,700 shares issued to 6 specific subscribers. Such shares cannot be transferred
within 36 months from the closing date of this issue and is estimated to be transacted on 5 August 2019
(the transaction date will be postponed to the following business day if such day is a statutory holiday or
rest day). Please refer to the Company’s Announcement No.2016-043 for details.
32 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
VI. Change of Share Capital and Particulars of Shareholders
I. Change of Share Capital
(i) Change of Shares
1. Change of Shares
During the period, no change in total numbers of shares and share capital structure was incurred.
2. Shareholding Changes from the Subsequent Period and Disclosure Date of the Report that
Impacted the Financial Indexes including EPS, Net Asset per Share (if any)
As disclosed in on 5 August 2016, the Company issued RMB A-share of 153,418,700 at a price of 29.45 per
share to 6 specific investors privately, namely, Jin Jiang Hotels Group, Hony Capital， Guosheng
Investment, GW Asset Management, HuaAn Asset Management, and SIG Asset Management. After this
issue of shares, total share capital of the Company has been increased to 957,936,440 from 804,517,740,
hence financial indexes such as earnings per share, net asset per share will decrease to some extent in
short term. However, as sufficient working capital is helpful to business expansion of the Company
during the continuous development period of the Company, such issue of shares will further improve the
Company’s sustained profitability in the long run.
(ii) Change of Restricted Tradable Shares
□Applicable √Not applicable
II. Particulars of shareholders and the substantial controller
(i) The total number of shareholders
68,405 households
As of the report the total number of shareholders (households) (including: 42,979 households of A shareholders,
25,426 households of B shareholders)
As of the reporting period the total number of preferred
shareholders voting rights restored (households)
(ii) The Top Ten Shareholders and Shareholders of Circulating Shares(or Tradable Shareholders)
as of the Reporting Period
Unit: share
Shareholding of the top 10 shareholders
Increase/ Closing pledged or frozen
decrease Number of The number
Nature of
Name of shareholder during the restricted Percentage of restricted Shares
Amount shareholder
reporting tradable shares shares status
period
State-owned
Jin Jiang Hotels Group 404,810,935 50.32% 101,277,000 N/A
legal person
Hony (Shanghai) Equity
Overseas legal
Investment Fund Center (limited 100,000,000 12.43% 100,000,000 Pledged 100,000,000
person
partnership)
Overseas legal
INVESCO FUNDS SICAV -9,426,400 11,599,621 1.44% Unknown
person
Huitianfu Mobile Connected
6,708,999 6,708,999 0.83% N/A Others
Stock Security Investment Fund
INVESCO PERPETUAL
Overseas legal
HONG KONG & CHINA -172,000 4,682,708 0.58% Unknown
person
FUND
SCHRODER
Overseas legal
INTERNATIONAL -689,818 4,207,797 0.52% Unknown
person
SELECTION FUND
Yinfeng Securities Investment
-500,000 3,500,000 0.44% N/A Others
Fund
33 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
Hong Kong Securities Clearing
Company Ltd(Shanghai Stock 628,399 3,235,006 0.40% N/A Unknown
Connect)
Overseas legal
NORGES BANK 371,292 3,159,013 0.39% Unknown
person
SCBHK A/C BBH S/A
VANGUARD EMERGING Overseas legal
-90,200 3,087,508 0.38% Unknown
MARKETS STOCK INDEX person
FUND
Particulars of top 10 unrestricted tradable share shareholders
The category and amount of shares
Name of shareholder Numbers of unrestricted tradable shares
Category Amount
Jin Jiang Hotels Group 303,533,935 RMB ordinary shares
Domestically-listed
INVESCO FUNDS SICAV 11,599,621
foreign shares
Huitianfu Mobile Connected Stock Security
6,708,999 RMB ordinary shares
Investment Fund
INVESCO PERPETUAL HONG KONG & Domestically-listed
4,682,708
CHINA FUND foreign shares
SCHRODER INTERNATIONAL SELECTION Domestically-listed
4,207,797
FUND foreign shares
Yinfeng Securities Investment Fund 3,500,000 RMB ordinary shares
Hong Kong Securities Clearing Company
3,235,006 RMB ordinary shares
Ltd(Shanghai Stock Connect)
Domestically-listed
NORGES BANK 3,159,013
foreign shares
SCBHK A/C BBH S/A VANGUARD
Domestically-listed
EMERGING MARKETS STOCK INDEX 3,087,508
foreign shares
FUND
Domestically-listed
National social securities 415 profile 2,520,878
foreign shares
INVESCO FUNDS SICAV and INVESCO PERPETUAL HONG KONG & CHINA FUND are
Explanation on associated relationship among the all belonging to INVESCO Co., Ltd. Except as stated above, the Company did not know whether
top 10 shareholders or acting-in-concert the other shareholders were related parties or the person acting-in-concert defined as" Measures
for the administration of disclosure of shareholders' equity changes of listed companies ".
Particulars of Top 10 Shareholders of Shares and Restricted Conditions
Unit: Share
Conditions of restricted tradable shares can be
Numbers of listed
Names of restricted tradable
No. unrestricted Number of new Restricted conditions
shares
tradable shares Time can be trade shares can be
traded
Since the end of the release
1 Jin Jiang Hotels Group 101,277,000 6 December 2017 date of 36 months may not
be transferred
Hony (Shanghai) Equity Since the end of the release
2 Investment Fund Center 100,000,000 6 December 2017 date of 36 months may not
(limited partnership) be transferred
The shareholders' relationship or the
concerted actions
(ii) Strategic Investors, or Local Person for Placement of New Shares to Become the Top 10
Shareholders
√Applicable □Not applicable
The starting date of The end of date of
The name of strategic investors or legal person
shareholding agreement shareholding agreement
Hony Capital Fund 3 December 2014 5 December 2017
Description on strategic investors or legal persons
participating in the placing of new shares in the holding
period
III. The Holding Shareholder and the Substantial Controller
□Applicable √Not applicable
34 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
VII. Preferred Shares
□Applicable √Not applicable
35 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
VIII. Directors, Supervisors and Senior Management
I. Changes in shareholding
(i) Changes in Shareholding of Current Directors, Supervisors and Senior Management
□Applicable √Not applicable
(ii) Equity incentive awarded to directors, supervisors and senior managers during the reporting
period
□Applicable √Not applicable
II. Changes in Directors, Supervisors and senior Management
√Applicable □Not applicable
Name Position Change Reason for the change
Chen Junjin Supervisor outgoing Retire
Liu Chenjian Supervisor Election augment
Liu Chenjian Supervisor outgoing work movement
He Yichi Supervisor Election augment
CEO and the person in charge of
Lu Zhenggang outgoing work movement
Financial function
Yu Meng Vice President outgoing work movement
Zhang Xiaoqiang CEO engage augment
CFO and the person in charge of
Shen Li engage augment
Financial function
Chief Investing Officer,
Zhu Qian engage augment
Secretary to Board
Yang Shaofeng Vice President engage augment
Vice President, Secretary to
Hu Min engage augment
Board
Xia Min Vice President engage augment
Li Yukai Vice President engage augment
Hou Lerui Vice President engage augment
36 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
IX. Corporate Bonds
□Applicable √Not applicable
37 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
X. Financial Report
The financial statements for the period ended 30 June 2016 prepared in accordance with Accounting
Standards for Business Enterprises are reviewed by Deloitte Touche Tohmatsu CPA LLP who issued a
reviewer's report with unqualified opinion for these financial statements (De Shi Bao (Yue) Zi (16)
No.(R0043).
(I) Review Report (attached)
(II) Financial Statements(attached)
(III) Notes to the Financial Statements(attached)
38 / 39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2016 Mid-year Report
XI. Document for Reference
Financial statements signed and sealed by legal representative, person in
charge of financial function, person in charge of the financial department;
Document for Reference
All the formal files and original announcements disclosed in Shanghai
Securities News and Ta Kung Pao during the reporting period.
Chairman of the Board: Yu Minliang
Shanghai Jin Jiang International Hotels Development Co., Ltd.
Reporting and Approval date by Board of Directors: 26 August 2016
39 / 39
REVIEW REPORT
De Shi Bao(Yue) Zi (16) No. R0043
To the shareholders of Shanghai Jin Jiang International Hotels Development Company Limited:
We have reviewed the accompanying financial statements of Shanghai Jin Jiang International Hotels
Development Company Limited (hereinafter "Jin Jiang Hotels"), which comprise of the company’s and
consolidated balance sheets as at 30 June 2016, and the company’s and consolidated income statements,
the company’s and consolidated statements of changes in shareholders’ equity and the company’s and
consolidated cash flow statements for the period from 1 January to 30 June 2016, and the notes to the
financial statements. Preparing these financial statements is the responsibility of the company's
management; our responsibility is to issue a report on these financial statements based on our review.
We conducted our review in accordance with the Chinese Certified Public Accountants Standard on
Review Engagements 2101: Review Financial Statements. This standard requires that we plan and
perform the review to obtain moderate assurance as to whether the financial statements are free from
material misstatement. A review is limited primarily to inquiries of company personnel and analytical
procedures applied to financial data and thus provides less assurance than an audit. We have not performed
an audit and, accordingly, we do not express an audit opinion.
Based on our review, nothing that causes us to believe that the accompanying financial statements fail to
be prepared in accordance with Accounting Standards for Business Enterprises or fail to present fairly, in
all material respects, the financial position, operating results and the cash flow of the company that we
reviewed has come to our attention.
Deloitte Touche Tohmatsu CPA LLP Chinese Certified Public Accountant:
Shanghai, China
Tang Lianjiong
Chen Yan
26 August 2016
40
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
AT 30 JUNE 2016
CONSOLIDATED BALANCE SHEET
RMB
30 June 31 December 30 June 31 December
Item Note Item Note
2016 2015 2016 2015
Current Assets: Current Liabilities:
Cash and bank balances (V) 1 7,464,223,069.79 4,741,841,642.55 Short-term borrowings (V) 19 12,477,409,189.73 5,209,091,457.30
Derivative financial
Derivative financial assets - - 7,731,861.50 6,360,052.14
liabilities
Notes receivable - - Notes payable - -
Accounts receivable (V) 2 603,034,300.17 437,288,801.40 Accounts payable (V) 20 1,584,854,569.97 938,139,369.55
Advances to suppliers (V) 3 279,318,561.14 61,504,108.88 Advances from customers (V) 21 525,509,384.05 194,397,097.20
Interest receivable (V) 4 45,714,158.69 34,953,185.30 Employee benefits payable (V) 22 452,263,357.33 330,702,963.14
Dividends receivable (V) 5 68,274,708.57 10,121,932.50 Taxes payable (V) 23 280,695,283.48 247,237,712.08
Other receivables (V) 6 865,942,120.49 158,878,996.18 Interest payable (V) 24 42,373,562.03 20,116,572.30
Inventories (V) 7 72,027,061.88 50,705,754.23 Dividends payable (V) 25 450,274.74 589,147.76
Non-current assets due within
1,724,154.35 1,640,003.54 Other payables (V) 26 836,064,260.37 347,977,468.02
one year
Non-current liabilities due
Other current assets (V) 8 226,974,468.67 162,367,618.94 (V) 27 2,873,595,035.92 21,093,804.60
within one year
Total current assets 9,627,232,603.75 5,659,302,043.52 Other current liabilities - -
Total current liabilities 19,080,946,779.12 7,315,705,644.09
Non-current Assets:
Available-for-sale financial assets (V) 9 1,412,724,281.07 1,351,198,601.21 Non-current Liabilities:
Held-to-maturity investments - - Long-term borrowings (V) 28 11,735,318,710.19 9,313,179,348.27
Long-term receivables - - Bonds payable - -
Long-term equity investments (V) 10 299,846,750.56 244,109,853.54 Long-term payables (V) 29 153,001,519.50 152,063,990.30
Long-term employee
Investment properties - - (V) 30 175,505,537.38 161,863,492.93
benefits payable
Fixed assets (V) 11 6,766,531,196.90 6,554,629,777.68 Provisions (V) 31 21,847,270.48 58,341,294.70
Construction in progress (V) 12 696,102,198.57 674,948,908.96 Deferred tax liabilities (V) 16 2,397,695,649.58 1,471,362,640.99
Materials for construction of fixed assets - - Other non-current liabilities (V) 32 146,219,356.34 79,356,841.02
Disposal of fixed assets - - Total non-current liabilities 14,629,588,043.47 11,236,167,608.21
Intangible assets (V) 13 6,567,100,242.85 2,455,945,267.19 TOTAL LIABILITIES 33,710,534,822.59 18,551,873,252.30
Development expenditure - - SHAREHOLDERS' EQUITY:
Goodwill (V) 14 10,169,998,341.56 4,216,472,381.60 Share capital (V) 33 804,517,740.00 804,517,740.00
Long-term prepaid expenses (V) 15 2,594,587,721.48 1,499,352,322.69 Capital reserve (V) 34 4,482,097,548.95 4,482,097,548.95
Deferred tax assets (V) 16 501,252,304.79 400,396,575.10 Less: Treasury shares - -
Other comprehensive
Other non-current assets (V) 17 4,266,932,374.41 3,970,022,782.27 (V) 35 663,353,976.58 908,472,146.16
Income
Total non-current assets 33,275,075,412.19 21,367,076,470.24 Surplus reserve (V) 36 579,263,664.10 579,263,664.10
Retained profits (V) 37 1,422,436,719.55 1,509,447,901.74
Total shareholders' equity
attributable to the share 7,951,669,649.18 8,283,799,000.95
holders of the Company
Minority interests 1,240,103,544.17 190,706,260.51
TOTAL SHAREHOLDERS'
9,191,773,193.35 8,474,505,261.46
EQUITY
TOTAL LIABILITIES AND
TOTAL ASSETS 42,902,308,015.94 27,026,378,513.76 SHAREHOLDERS' 42,902,308,015.94 27,026,378,513.76
EQUITY
The accompanying notes form part of the financial statements.
Legal Representative: Yu Minliang
Chief Financial Officer: Shen Li
Person in Charge of the Accounting Body: Wu Lin
- 41 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
AT 30 JUNE 2016
COMPANY'S BALANCE SHEET
RMB
30 June 31 December 30 June 31 December
Item Note Item Note
2016 2015 2016 2015
Current Assets: Current Liabilities:
Cash and bank balances (XIV)1 4,544,536,324.66 3,234,076,648.62 Short-term borrowings (XIV)18 10,050,000,000.00 4,647,000,000.00
Derivative financial assets - - Derivative financial liabilities - -
Notes receivable - - Notes payable - -
Accounts receivable (XIV)2 8,725,317.23 6,271,530.27 Accounts payable 63,376,476.02 85,609,143.69
Advances to suppliers 624,445.48 715,393.47 Advances from customers 7,339,517.32 7,822,189.93
Interest receivable (XIV)3 44,683,622.54 33,887,553.31 Employee benefits payable (XIV)19 24,787,913.77 23,545,397.50
Dividends receivable (XIV)4 237,634,116.07 9,507,026.99 Taxes payable (XIV)20 8,046,453.45 80,710,053.11
Other receivables (XIV)5 630,125,211.97 146,676,032.96 Interest payable 24,944,256.50 6,026,655.22
Inventories (XIV)6 2,162,017.72 4,049,155.14 Dividends payable 429,303.93 395,560.41
Non-current assets due
(XIV)7 - 200,000,000.00 Other payables (XIV)21 223,786,745.63 189,575,140.85
within one year
Non-current liabilities due
Other current assets (XIV)8 33,630,967.55 10,016,467.45 - -
within one year
Total current assets 5,502,122,023.22 3,645,199,808.21 Other current liabilities - -
Total current liabilities 10,402,710,666.62 5,040,684,140.71
Non-current Assets:
Available-for-sale financial assets 980,834,694.27 1,347,205,573.86 Non-current Liabilities:
Held-to-maturity investments - - Long-term borrowings 4,920,000,000.00 -
Long-term receivables (XIV)9 10,328,000.00 10,328,000.00 Bonds payable - -
Long-term equity investments (XIV)10 12,237,766,310.24 4,138,655,010.27 Long-term payables - -
Long-term employee benefits
Investment properties - - - -
payable
Fixed assets (XIV)11 65,536,198.93 49,894,424.76 Provisions - -
Construction in progress (XIV)12 153,562,533.85 191,044,483.24 Deferred tax liabilities (XIV)16 203,452,655.88 289,089,179.26
Materials for construction of
- - Other non-current liabilities (XIV)22 5,500,000.00 5,500,000.00
fixed assets
Disposal for fixed assets - - Total Non-current Liabilities 5,128,952,655.88 294,589,179.26
Intangible assets (XIV)13 55,915,982.83 57,079,608.40 TOTAL LIABILITIES 15,531,663,322.50 5,335,273,319.97
Development expenditure - - SHAREHOLDERS' EQUITY:
Long-term prepaid expenses (XIV)14 74,750,033.28 5,940,435.43 Share capital 804,517,740.00 804,517,740.00
Deferred tax assets - - Capital reserve 4,871,182,047.73 4,871,182,047.73
Other non-current assets (XIV)15 4,141,602,634.32 3,875,299,789.44 Less: Treasury shares - -
Total Non-current Assets 17,720,296,387.72 9,675,447,325.40 Other comprehensive income (XIV)23 640,608,498.22 893,238,567.71
Surplus reserve 579,263,664.10 579,263,664.10
Retained profits 795,183,138.39 837,171,794.10
TOTAL SHAREHOLDERS'
7,690,755,088.44 7,985,373,813.64
EQUITY
TOTAL LIABILITIES AND
TOTAL ASSETS 23,222,418,410.94 13,320,647,133.61 23,222,418,410.94 13,320,647,133.61
SHAREHOLDERS' EQUITY
Legal Representative: Yu Minliang
Chief Financial Officer: Shen Li
Person in Charge of the Accounting Body: Wu Lin
- 42 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
CONSOLIDATED INCOME STATEMENT
RMB
Period from 1 January to Period from 1 January to
Item
Note 30 June 2016 30 June 2015
I. Operating income (V) 38 4,368,181,085.26 2,489,329,045.96
Less: Operating costs (V) 38, 39 434,096,326.04 225,004,836.43
Business taxes and levies (V) 40 83,397,356.63 73,015,974.11
Selling expenses (V) 39 2,618,711,542.75 1,343,102,815.39
Administrative expenses (V) 39 960,758,802.61 614,392,008.62
Financial expenses (V) 41 229,518,074.47 77,192,054.76
Impairment losses of assets (V) 42 14,509,980.72 116,396.90
Add: Profit arising from changes in fair value - -
Investment income (V) 43 333,004,292.47 229,954,968.09
Including: Investment income from investment in associates
and joint ventures 50,550,196.85 18,393,650.93
II .Operating profit 360,193,294.51 386,459,927.84
Add: Non-operating income (V) 44 73,500,212.36 26,962,379.27
Including: Gains from disposal of non-current assets 10,884,656.02 442,917.09
Less: Non-operating expenses (V) 45 13,456,304.48 2,332,297.36
Including: Losses from disposal of non-current assets 3,907,744.46 1,578,932.46
III. Total profit 420,237,202.39 411,090,009.75
Less: Income tax expenses (V) 46 116,845,075.66 116,020,043.71
IV. Net profit 303,392,126.73 295,069,966.04
Net profit attributable to the shareholders of the Company 299,157,333.01 291,508,994.19
Profit or loss attributable to minority interests 4,234,793.72 3,560,971.85
V. Other comprehensive income (loss), net of tax (V) 35 (234,190,988.17) (365,531,915.73)
Other comprehensive income (loss)
attributable to owners of the Company, net of tax (245,118,169.58) (364,005,234.49)
(I) Other comprehensive income that will not be reclassified
subsequently to profit or loss (4,474,875.79) (855,139.98)
1.Changes as a result of premeasurement of the net defined
benefit plan liability or asset (4,474,875.79) (855,139.98)
(II)Other comprehensive income (loss) that will be reclassified
subsequently to profit or loss (240,643,293.79) (363,150,094.51)
1. Changes in fair value of available-for-sale financial assets (230,222,566.06) (371,089,926.18)
2. Effective proportion of profit or loss of cash flow hedging (728,428.74) 1,377,344.00
3. Translation reserve (9,692,298.99) 6,562,487.67
Other comprehensive income (loss) attributable to
minority interests, net of tax 10,927,181.41 (1,526,681.24)
VI. Total comprehensive income (loss) 69,201,138.56 (70,461,949.69)
Comprehensive income (loss) attributable to shareholders
of the Company 54,039,163.43 (72,496,240.30)
Comprehensive income attributable to minority interests 15,161,975.13 2,034,290.61
VII. Earnings per share:
(I) Basic earnings per share (V) 51 0.3718 0.3623
(II) Diluted earnings per share (V) 51 N/A N/A
Legal Representative: Yu Minliang
Chief Financial Officer: Shen Li
Person in Charge of the Accounting Body: Wu Lin
- 43 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
COMPANY'S INCOME STATEMENT
RMB
Period from 1 January Period from 1 January
Item
Note to 30 June 2016 to 30 June 2015
I. Operating income (XIV)24 78,902,643.33 92,268,671.22
Less: Operating costs (XIV)24、25 10,554,868.66 13,362,751.42
Business taxes and levies 2,901,985.28 4,742,959.88
Selling expenses (XIV)25 72,421,729.19 65,799,867.43
Administrative expenses (XIV)25 60,769,283.40 87,383,009.92
Financial expenses (XIV)26 114,160,413.79 19,276,643.17
Impairment loss of assets 21,186.48 -
Add: Profit arising from changes in fair value - -
Investment income (XIV)27 525,958,103.44 437,269,489.95
Including: Investment income from investment in
associates and joint ventures 48,821,164.65 16,737,821.83
II .Operating profit 344,031,279.97 338,972,929.35
Add: Non-operating income (XIV)28 11,377,345.89 5,594,103.08
Less: Non-operating expenses 33,395.70 281,491.26
Including: Losses from disposal of non-current assets 10,468.29 3,491.26
III. Total profit 355,375,230.16 344,285,541.17
Less: Income tax expenses 11,195,370.67 18,668,560.98
IV. Net profit 344,179,859.49 325,616,980.19
V. Other comprehensive income (loss), net of tax (252,630,069.49) (371,089,926.18)
Other comprehensive income (loss) that will be
reclassified subsequently to profit or loss (252,630,069.49) (371,089,926.18)
1. Profit or loss arising from changes in fair value
of available-for-sales financial assets (252,630,069.49) (371,089,926.18)
VI. Total Comprehensive Income (Loss) 91,549,790.00 (45,472,945.99)
Legal Representative: Yu Minliang
Chief Financial Officer: Shen Li
Person in Charge of the Accounting Body: Wu Lin
- 44 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
CONSOLIDATED CASH FLOW STATEMENT
RMB
Period from 1 January to Period from 1 January to
Item
Note 30 June 2016 30 June 2015
I. Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 4,444,711,993.77 2,426,135,604.35
Receipts of taxes refund 15,952,197.30 -
Other cash receipts relating to operating activities (V) 47(1) 96,244,768.07 57,282,161.29
Sub-total of cash inflows 4,556,908,959.14 2,483,417,765.64
Cash payments for goods purchased and services received 976,031,888.76 561,239,643.80
Cash payments to and on behalf of employees 1,321,410,478.32 756,711,286.70
Payments of taxes 382,644,522.72 257,638,248.96
Other cash payment relating to operating activities (V) 47(2) 1,114,260,224.95 535,744,890.13
Sub-total of cash outflows 3,794,347,114.75 2,111,334,069.59
Net cash flows from operating activities (V) 48(1) 762,561,844.39 372,083,696.05
II. Cash flows from investing activities:
Cash receipts from disposal and recovery of investments 251,317,907.13 362,105,100.45
Cash receipts from returns on investments 49,191,240.93 37,837,670.49
Net cash receipts from disposal of fixed assets, intangible assets
and other long-term assets 8,790,907.52 833,667.27
Net cash receipts to acquisition and disposals of subsidiaries
and other business units (V) 47(3) - 527,063,409.16
Other cash receipts relating to investing activities - 17,142,936.10
Sub-total of cash inflows 309,300,055.58 944,982,783.47
Net cash payments to acquisition and disposals of subsidiaries
and other business units (V) 47(4) 6,940,397,644.67 2,956,867,734.47
Cash payments to acquire fixed assets, intangible assets and
other long-term assets 423,369,006.41 276,602,701.46
Cash payments to acquire investments 4,375,457.62 98,879.25
Other cash payments relating to investing activities (V) 47(5) 1,189,446,851.30 72,852,304.77
Sub-total of cash outflows 8,557,588,960.00 3,306,421,619.95
Net cash flows from investing activities (8,248,288,904.42) (2,361,438,836.48)
III. Cash flows from financing activities:
Cash receipts from capital contributions 22,538,570.00 -
Including: Cash receipts from capital contributions by
minority shareholders of subsidiaries 22,538,570.00 -
Cash receipts from borrowings (V) 47(6) 16,920,000,000.00 24,811,718,832.86
Cash receipts relating to other financing activities (V) 47(7) 65,181,237.12 37,917,044.02
Sub-total of cash inflows 17,007,719,807.12 24,849,635,876.88
Cash repayments of borrowings (V) 47(8) 6,612,341,287.62 18,060,261,032.85
Cash payments for interest expenses and distribution of dividends or profits 688,872,882.55 165,374,494.21
Including: Cash payments to minority shareholders for distribution of
dividends or profits 236,043.43 10,480,767.45
Other cash payments relating to financing activities (V) 47(9) 5,495,020.98 4,793,185,479.81
Sub-total of cash outflows 7,306,709,191.15 23,018,821,006.87
Net cash flows from financing activities 9,701,010,615.97 1,830,814,870.01
IV. Effect of foreign exchange rate changes on cash and cash equivalents 30,054,183.36 76,178,817.34
V. Net increase in cash and cash equivalents 2,245,337,739.30 (82,361,453.08)
Add: Opening balance of cash and cash equivalents (V) 48(3) 3,797,129,642.55 3,551,614,901.31
VI. Closing balance of cash and cash equivalents (V) 48(3) 6,042,467,381.85 3,469,253,448.23
Legal Representative: Yu Minliang
Chief Financial Officer: Shen Li
Person in Charge of the Accounting Body: Wu Lin
- 45 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
COMPANY'S CASH FLOW STATEMENT
RMB
Period from 1 January Period from 1 January
Item
Note to 30 June 2016 to 30 June 2015
I. Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 78,532,682.78 90,542,387.54
Other cash receipts relating to operating activities 30,175,044.28 21,317,368.76
Sub-total of cash inflows 108,707,727.06 111,859,756.30
Cash payments for goods purchased and services received 22,539,400.84 27,915,712.56
Cash payments to and on behalf of employees 47,407,849.12 41,958,201.79
Payments of taxes 110,898,102.57 80,626,618.86
Other cash payment relating to operating activities 20,151,714.15 37,748,862.46
Sub-total of cash outflows 200,997,066.68 188,249,395.67
Net cash flows from operating activities (XIV)30(1) (92,289,339.62) (76,389,639.37)
II.Cash flows from investing activities:
Cash receipts from disposal and recovery of investments 442,334,188.43 634,724,855.73
Cash receipts from returns on investments 73,644,471.03 39,822,840.25
Net cash receipts from disposal of fixed assets, intangible
assets and other long-term assets 1,070.00 166,056.00
Other cash receipts relating to investing activities - 340,000,000.00
Sub-total of cash inflows 515,979,729.46 1,014,713,751.98
Net cash payments to acquisition and disposals of subsidiaries
and other business units 8,081,170,000.00 -
Cash payments to acquire fixed assets, intangible assets
and other long-term assets 76,697,979.69 25,088,123.82
Cash payments to acquire investments 13,000,000.00 654,000,000.00
Other cash payments relating to investing activities (XIV)29(1) 1,161,757,520.10 83,791,374.46
Sub-total of cash outflows 9,332,625,499.79 762,879,498.28
Net cash flows from investing activities (8,816,645,770.33) 251,834,253.70
III.Cash flows from financing activities:
Cash receipts from borrowings 15,770,000,000.00 6,247,000,000.00
Cash receipts relating to other financing activities (XIV)29(2) 19,364,837.12 35,592,676.74
Sub-total of cash inflows 15,789,364,837.12 6,282,592,676.74
Cash repayments of borrowings 5,447,000,000.00 2,347,000,000.00
Cash payments for interest expenses and distribution of
dividends or profits 595,326,051.13 101,859,848.19
Cash payments relating to other financing activities - 4,723,560,000.00
Sub-total of cash outflows 6,042,326,051.13 7,172,419,848.19
Net cash flows from financing activities 9,747,038,785.99 (889,827,171.45)
IV. Effect of foreign exchange rate changes on cash
and cash equivalents - -
V.Net increase (decrease) in cash and cash equivalents 838,103,676.04 (714,382,557.12)
Add: Opening balance of cash and cash equivalents (XIV)30(2) 2,289,364,648.62 2,842,897,015.27
VI. Closing balance of cash and cash equivalents (XIV)30(2) 3,127,468,324.66 2,128,514,458.15
Legal Representative: Yu Minliang
Chief Financial Officer: Shen Li
Person in Charge of the Accounting Body: Wu Lin
- 46 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
RMB
Period From 1 January to 30 June 2016
Attributable to equity holders of the Company
Item Other
comprehensive Total shareholder's
Share capital Capital reserve income Surplus reserve Retained profits Minority interests equity
I. Closing balance of the preceding period 804,517,740.00 4,482,097,548.95 908,472,146.16 579,263,664.10 1,509,447,901.74 190,706,260.51 8,474,505,261.46
Add: Changes in accounting policies - - - - - - -
II. Opening balances of the current period 804,517,740.00 4,482,097,548.95 908,472,146.16 579,263,664.10 1,509,447,901.74 190,706,260.51 8,474,505,261.46
III. Changes for the period - - (245,118,169.58) - (87,011,182.19) 1,049,397,283.66 717,267,931.89
(I)Total comprehensive Income - - (245,118,169.58) - 299,157,333.01 15,161,975.13 69,201,138.56
(II) Owner's contributions and reduction in capital - - - - - 22,538,570.00 22,538,570.00
1. Ordinary shares invested by the shareholders - - - - - - -
2. Capital contribution from minority interests
of the subsidiaries (note) - - - - - 22,538,570.00 22,538,570.00
3. Capital reduction from minority interests of
the subsidiaries - - - - - - -
(III) Profit distribution - - - - (386,168,515.20) (236,043.43) (386,404,558.63)
1. Transfer to surplus reserve - - - - - - -
2. Distribution to shareholders - - - - (386,168,515.20) (236,043.43) (386,404,558.63)
(IV) Transfer within shareholders' equity - - - - - - -
(V) Special reserve - - - - - - -
(VI) Others( refer to Note (Note VI)1) - - - - - 1,011,932,781.96 1,011,932,781.96
IV. Closing balance of the current period 804,517,740.00 4,482,097,548.95 663,353,976.58 579,263,664.10 1,422,436,719.55 1,240,103,544.17 9,191,773,193.35
Note: During the reporting period, a subsidiary of the Group, Guangzhou Wowqu Apartment Management Co., Ltd. received capital contribution of RMB22, 538, 570.00
from minority interests.
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body: Wu Lin
- 47 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2015
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
RMB
For The Period From 1 January to 30 June 2015
Attributable to equity holders of the Company
Item Other
comprehensive Total shareholder's
Share capital Capital reserve income Surplus reserve Retained profits Minority interests equity
I. Closing balance of the preceding period 804,517,740.00 4,482,097,548.95 1,639,273,900.26 529,215,741.42 1,243,693,387.43 28,798,007.19 8,727,596,325.25
Add: Changes in accounting policies - - - - - - -
II． Opening balances of the current period 804,517,740.00 4,482,097,548.95 1,639,273,900.26 529,215,741.42 1,243,693,387.43 28,798,007.19 8,727,596,325.25
III. Changes for the period - - (364,005,234.49) - (30,298,101.81) 172,471,407.69 (221,831,928.61)
(I)Total comprehensive Income - - (364,005,234.49) - 291,508,994.19 2,034,290.61 (70,461,949.69)
(II) Owner's contributions and reduction in capital - - - - - 8,274,400.00 8,274,400.00
1.Ordinary shares invested by the shareholders - - - - - - -
2.Capital contribution from minority interests of
the subsidiaries - - - - - 8,274,400.00 8,274,400.00
3.Capital reduction from minority interests of
the subsidiaries - - - - - - -
(III) Profit distribution - - - - (321,807,096.00) (11,073,635.20) (332,880,731.20)
1. Transfer to surplus reserve - - - - - - -
2. Distribution to shareholders - - - - (321,807,096.00) (11,073,635.20) (332,880,731.20)
(IV) Transfer within shareholders' equity - - - - - - -
(V) Special reserve - - - - - - -
(VI) Others - - - - - 173,236,352.28 173,236,352.28
IV. Closing balance of the current period 804,517,740.00 4,482,097,548.95 1,275,268,665.77 529,215,741.42 1,213,395,285.62 201,269,414.88 8,505,764,396.64
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body: Wu Lin
- 48 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY OF THE COMPANY
Item Period From 1 January to 30 June 2016 Period From 1 January to 30 June 2015
Other Other
comprehensive Surplus Total shareholder's comprehensive Surplus Total shareholder's
Share capital Capital reserve income reserve Retained profits equity Share capital Capital reserve income reserve Retained profits equity
I: Closing balance of the preceding period 804,517,740.00 4,871,182,047.73 893,238,567.71 579,263,664.10 837,171,794.10 7,985,373,813.64 804,517,740.00 4,871,182,047.73 1,639,273,900.26 529,215,741.42 708,547,586.02 8,552,737,015.43
Add: Changes in accounting policies - - - - - - - - - - - -
II: Opening balance of the current period 804,517,740.00 4,871,182,047.73 893,238,567.71 579,263,664.10 837,171,794.10 7,985,373,813.64 804,517,740.00 4,871,182,047.73 1,639,273,900.26 529,215,741.42 708,547,586.02 8,552,737,015.43
III. Changes for the period - - (252,630,069.49) - (41,988,655.71) (294,618,725.20) - - (371,089,926.18) - 3,809,884.19 (367,280,041.99)
(I) Total Comprehensive income (loss) - - (252,630,069.49) - 344,179,859.49 91,549,790.00 - - (371,089,926.18) - 325,616,980.19 (45,472,945.99)
(II) Owner's contribution and deduction
in capital - - - - - - - - - - - -
(III) Profit distribution - - - - - - - - - - - -
1. Transfer to surplus reserve - - - - - - - - - - - -
2. Distribution to shareholders - - - - (386,168,515.20) (386,168,515.20) - - - - (321,807,096.00) (321,807,096.00)
(IV) Transfer within shareholders' equity - - - - - - - - - - - -
(V) Special reserve - - - - - - - - - - - -
(VI) Others - - - - - - - - - - - -
IV. Closing balance of the current period 804,517,740.00 4,871,182,047.73 640,608,498.22 579,263,664.10 795,183,138.39 7,690,755,088.44 804,517,740.00 4,871,182,047.73 1,268,183,974.08 529,215,741.42 712,357,470.21 8,185,456,973.44
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body: Wu Lin
- 49 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
I. GENRAL
Shanghai Jin Jiang International Hotels Development Co., Ltd. (hereinafter "the Company") is a limited
company incorporated in Shanghai, the People's Republic of China (the "PRC") on 9 June 1993 as a joint
stock limited company. The Company and its subsidiaries (together, "the Group") are principally engaged
in operation and management of limited service hotels, food and cuisine at home and aboard.
The company holds a business license with which unified social credit identifier is 91310000132203715W.
The legal representative is Yu Minliang.
In June 1993, the Company was established by private placing with total share capital of RMB
235,641,500.
In December 1994, the Company issued 100,000,000 domestically-listed foreign shares (B shares) of RMB
1 per share at premium with the issue price of USD 0.35 per share. On 15 December 1994, these shares
commenced listing in Shanghai Stock Exchange and the share capital of the Company accordingly
increased to RMB 335,641,500.
In September 1996, the Company issued public offering of 19,000,000 domestically-listed RMB ordinary
shares (A share) of RMB 1 per share at premium with the issue price of RMB 4.90. On 11 October 1996,
these A shares, together with 6,000,000 staff owned shares, commenced listing in Shanghai Stock
Exchange and the share capital of the Company accordingly increased to RMB 354,641,500.
In July 1997, the Company capitalized its capital surplus into share capital on a 10:2 proportion, resulting
in the increase of share capital to RMB 425,569,800.
In July 1998, the Company prorated 2 bonus shares for every 10 shares to all shareholders and capitalized
its capital surplus into share capital on a 10:1 proportion, resulting in the increase of share capital to RMB
553,240,740.
In January 2001, upon the approval of China Securities Regulatory Commission, the Company issued
additional offering of 50,000,000 domestically-listed RMB ordinary shares (A shares) of RMB 1 per share
at premium with the issue price of RMB 10.80. The additional offering commenced listing in Shanghai
Stock Exchange started from 19 January 2001 and the share capital of the Company accordingly increased
to RMB 603,240,740.
On 23 January 2006, the share merger reform was carried out. The unlisted A share shareholders of the
Company transferred to public A shareholders registered in the book as at the registration date of equity
shares(19 January 2006)3.1 shares for every 10 listed shares. In accordance with the share merger reform
program, 49,009,806 shares of non-tradable floating shares were listed on 23 January 2007, 10,065,610
shares of non-tradable floating shares were listed on 21 March 2007, 30,162,037 shares of non-tradable
floating shares were listed on 23 January 2008 and 229,151,687 shares of non-tradable floating shares were
listed on 23 January 2009. As at 23 January 2009, all shares held by the shareholders formerly holding the
unlisted shares were listed, 318,389,140 shares of non-tradable floating shares were listed.
On 29 October 2014, in accordance with China Securities Regulatory Commission regulatory permission
to [2014] no. 1129 "On the Approval of Non-public Share Issuance of Shanghai Jin Jiang International
Hotel Development co., LTD.,” China Securities Regulatory Commission approved non-public share
issuing items of the Company. According to the approval, the Company issued 201,277,000 (A share)
non-public issuing shares which have RMB 1 per share at premium with the issue price of RMB 15.08 per
share to HongYi(Shanghai) Investment Fund Center LLP ("HongYi Investment Fund) and Shanghai
Jinjiang International Hotels (Group) CO.,LTD ("Jinjiang Hotels Group"). Total raised fund is RMB
3,035,257,160. Total raised fund deducts issuing expenses of RMB 7,001,277, the net raised fund is RMB3,
028,255,883 in which RMB 201,277,000 included in equity and RMB 2,826,978,883 included in capital
reserve. The share capital of the Company accordingly increased to RMB 804,517,740.
- 50 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
I. GENERAL - continued
On 16 February 2015, the Company's wholly-owned subsidiary, Luxembourg Sailing Investment Co.sarl
("Sailing Investment") entered into an equity acquisition agreement with Star SDL Investment Co S.à r.l. ("Star
SDL"), agreeing to acquire all the equity in Star SDL's wholly-owned subsidiary Groupe du Louvre ("GDL").
The equity transfer was completed on 27 February 2015.
On 18 September 2015, the Company entered into an equity acquisition agreement with the former
shareholder of Keystone Lodging Holdings Limited("Keystone") to acquire 81.0034% equity interests in
Keystone. The equity delivery was completed on 26 February 2016, and the Company accordingly became
the controlling shareholder of Keystone. Details of this acquisition are set out in Note (VI) 1.
As of 30 June 2016, the Company's total shares amounted to 804,517,740 shares in total, including
404,810,935 shares held by Jin Jiang Hotels Group, representing 50.32% of the total share capital, and Jin
Jiang Hotels Group was the parent company of the Company. Jin Jiang International (Holdings) Co., Ltd.
("Jin Jiang International") was the parent company of Jin Jiang Hotels Group and the ultimate holding
company of the Company.
On 26 August 2016, Board of Directors of the Company authorized the Company's and consolidated
financial statements for issuance.
II. BASIS OF PREPARATION OF FINANCIAL STATEMENTS
Basis of preparation
The Group has adopted the Accounting Standards for Business Enterprises ("ASBE") and relevant
regulations issued by the Ministry of Finance ("MoF"). In addition, the Group has disclosed relevant
financial information in accordance with Information Disclosure and Presentation Rules for Companies
Offering Securities to the Public No. 15－ General Provisions on Financial Reporting (Revised in 2014).
Basis of accounting and principle of measurement
The Group adopts the accrual basis of accounting. Except for certain financial instruments which are
measured at fair value, the Group adopts the historical cost as the principle of measurement in the financial
statements. Where assets are impaired, provisions for asset impairment are recognized in accordance with
relevant requirements.
Where the historical cost is adopted as the measurement basis, assets are recorded at the amount of cash or
cash equivalents paid or at the fair value of the consideration given to acquire them at the time of
acquisition. Liabilities are recorded at the amount of proceeds or assets received or the contractual amounts
for assuming the present obligation, or, at the amounts of cash or cash equivalents expected to be paid to
settle the liabilities in the normal course of business.
- 51 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
II. BASIS OF PREPARATION OF FINANCIAL STATEMENTS - continued
Basis of accounting and principle of measurement - continued
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date, regardless of whether that price is
directly observable or estimated using valuation technique. Fair value measurement and/or disclosure in
the financial statements are determined according to the above basis.
Fair value measurements are categorized into Level 1, 2 or 3 based on the degree to which the inputs to the
fair value measurements are observable and the significance to the inputs to the fair value measurement in
its entirety, which are described as follows:
Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that
the entity can access at the measurement date;
Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for
the asset or liability, either directly or indirectly; and
Level 3 inputs are unobservable inputs for the asset or liability.
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES
1. Statement of compliance with the ASBE
The financial statements of the Company have been prepared in accordance with ASBE, and present truly
and completely, the Company's and consolidated financial position as of 30 June 2016, and the Company's
and consolidated results of operations and cash flows for the period from 1 January to 30 June 2016.
2. Accounting period
The Group adopts the calendar year as its accounting year, i.e. from 1 January to 31 December. Accounting
period for this financial statement is for the period from 1 January to 30 June 2016.
3. Business cycle
The Group principally engaged in operation and management of limited service hotels, food and cuisine.
The business cycle is about 12 months.
4. Functional currency
Renminbi ("RMB") is the currency of the primary economic environment in which the Company and its
domestic subsidiaries operate. The Company's foreign subsidiary chooses its functional currency on the
basis of the primary economic environment in which it operates. The Group adopts RMB to prepare its
financial statements.
- 52 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
5. The accounting treatment of business combinations involving enterprises under common control and
business combinations not involving enterprises under common control
Business combinations are classified into business combinations involving enterprises under common
control and business combinations not involving enterprises under common control.
5.1 A 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.
Assets and liabilities obtained are measured at their respective carrying amounts as recorded by the
combining entities on the date of the combination. The difference between the carrying amount of the net
assets obtained and the carrying amount of the consideration paid for the combination the aggregate face
value of shares issued as consideration is adjusted to the share premium in capital reserve. If the share
premium is not sufficient to absorb the difference, any excess is adjusted against retained earnings.
Costs that are directly attributable to the combination are charged to profit or loss in the period in which
they are incurred.
5.2 A business combination not involving enterprises under common control and goodwill
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.
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
acquire. The intermediary expenses incurred by the acquirer in respect of auditing, legal services, valuation
and consultancy services, etc. and other associated administrative expenses attributable to the business
combination are recognized in profit and loss when they are incurred.
The acquirer’s identifiable assets, liabilities and contingent liabilities, acquired by the acquirer in a
business combination, that meet the recognition criteria are measured at fair value at the acquisition date.
Where the cost of combination exceeds the acquirer’s interest in the fair value of the acquirer’s identifiable
net assets, the difference is treated as an asset and recognized as goodwill, which is measured at cost on
initial recognition. Where the cost of combination is less than the acquirer’s interest in the fair value of the
acquiree’s identifiable net assets, the acquirer firstly reassesses the measurement of the fair values of the
acquiree’s identifiable assets, liabilities and contingent liabilities and measurement of the cost of
combination. 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 recognizes the remaining difference
immediately in profit and loss for the current period.
Goodwill arising from a business combination is presented separately in the consolidated financial
statements. And it's represented in accordance with the amount of cost less accumulated impairment losses.
- 53 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
6. PREPARATION OF CONSOLIDATION FINANCIAL STATEMENTS
Preparation of consolidation financial statements
The scope of consolidation in the consolidated financial statements is determined on the basis of control.
Control exists when the investor has power over the investee; is exposed, or has rights, to variable returns
from its involvement with the investee; and has the ability to use its power over the investee to affect its
returns. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that
there are changes of the above elements of the definition of control.
Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when
the Group loses control of the subsidiary.
For a subsidiary disposed of by the Group, the operating results and cash flows before the date of disposal
(the date when control is lost) are included in the consolidated income statement and consolidated
statement of cash flows, as appropriate.
For a subsidiary acquired through a business combination not involving enterprises under common control,
the operating results and cash flows from the acquisition date (the date when control is obtained) are
included in the consolidated income statement and consolidated statement of cash flows, as appropriate.
No matter when the business combination occurs in the reporting period, subsidiaries acquired through a
business combination involving enterprises under common control are included in the Group's scope of
consolidation as if they had been included in the scope of consolidation from the date when they first came
under the common control of the ultimate controlling party. Their operating results and cash flows from the
beginning of the earliest reporting period [or from the date when they first came under the common control
of the ultimate controlling party are included in the consolidated income statement and consolidated
statement of cash flows, as appropriate.
The significant accounting policies and accounting periods adopted by the subsidiaries are determined
based on the uniform accounting policies and accounting periods set out by the Company.
The effects of all intra-group transactions are eliminated on consolidation.
The portion of subsidiaries' equity that is not attributable to the Company is treated as minority interests
and presented as "minority interests" in the consolidated balance sheet within shareholders' equity. The
portion of net profits or losses of subsidiaries for the period attributable to minority interests is presented as
"minority interests" in the consolidated income statement below the "net profit" line item.
When the amount of loss for the period attributable to the minority shareholders of a subsidiary exceeds
the minority shareholders' portion of the opening balance of owners' equity of the subsidiary, the excess
amount are still allocated against minority interests.
Acquisition of minority interests or disposal of interest in a subsidiary that does not result in the loss of
control over the subsidiary is accounted for as equity transactions. The carrying amounts of the Company's
interests and minority interests are adjusted to reflect the changes in their relative interests in the subsidiary.
The difference between the amount by which the minority interests are adjusted and the fair value of the
consideration paid or received is adjusted to capital reserve under owners' equity. If the capital reserve is
not sufficient to absorb the difference, the excess are adjusted against retained earnings.
- 54 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
6. PREPARATION OF CONSOLIDATION FINANCIAL STATEMENTS - continued
Preparation of consolidation financial statements - continued
When the Group loses control over a subsidiary due to disposal of certain equity interest or other reasons,
any retained interest is re-measured at its fair value on the date when control is lost. The difference
between (i) the aggregate of the consideration received on disposal and the fair value of any retained
interest and (ii) the share of the former subsidiary's net assets cumulatively calculated from the acquisition
date according to the original proportion of ownership interest is recognized as investment income in the
period in which control is lost, and at the same time adjusted against goodwill. Other comprehensive
income associated with investment in the former subsidiary is reclassified to investment income in the
period in which control is lost.
7. Cash and cash equivalents
Cash comprises cash on hand and deposits that can be readily withdrawn on demand. 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.
8. Translation of transactions denominated in foreign currencies
8.1 Foreign Currency Transactions
On initial recognition, foreign currency transactions are translated by applying the spot exchange rate on
the date of the transaction.
On the balance sheet date, foreign currency monetary items are translated to RMB by using the spot
exchange rate on that date. Exchange differences arising from the differences between the spot exchange
rates prevailing at the balance sheet date and those on initial recognition or at the previous balance sheet
date are recognized in profit or loss for the period, except that (1) exchange differences related to a
specific-purpose borrowing denominated in foreign currency that qualify for capitalization are capitalized
as part of the cost of the qualifying asset during the capitalization period; (2) exchange differences related
to hedging instruments for the purpose of hedging against foreign currency risks are accounted for using
hedge accounting; (3) exchange differences arising from available-for-sale non-monetary items (such as
shares) denominated in foreign currencies and changes in the carrying amounts (other than the amortized
cost) of available-for-sale monetary items are recognized as other comprehensive income and included in
capital reserve.
When the consolidated financial statements include foreign operation(s), if there is foreign currency
monetary item constituting a net investment in a foreign operation, exchange difference arising from
changes in exchange rates are recognized as "exchange differences arising on translation of financial
statements denominated in foreign currencies " in owner's equity, and in profit and loss for the period upon
disposal of the foreign operation.
Foreign currency non-monetary items measured at historical cost are translated to the amounts in
functional currency at the spot exchange rates on the date of the transaction and the amounts in functional
currency remain unchanged. Foreign currency non-monetary items measured at fair value are re-translated
at the spot exchange rate on the date the fair value is determined. Difference between the re-translated
functional currency amount and the original functional currency amount is treated as changes in fair value
(including changes of exchange rate) and is recognized in profit and loss or as other comprehensive
income.
- 55 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
8. Translation of transactions denominated in foreign currencies - continued
8.2 Translation of foreign currency financial statements
For the preparation of the consolidated financial statements, foreign currency financial statements of
Foreign businesses are translated into functional currency reports in the following manner: asset and
liability items in the balance sheet are translated by using the spot exchange rates on the balance sheet date;
shareholders’ equity items are translated by using the spot exchange rates on the dates when the events
occur; all items in the income statement and items indicating the distribution of profit are translated by
using the spot exchange rates on the dates of the transactions. Difference between translated asset and
liability items and total amount of shareholders’ equity items is recorded in shareholders’ equity.
Foreign currency cash flows and cash flows of foreign subsidiaries are translated at the spot exchange rates
on the date of the cash flow. The effect of exchange rate changes on cash and cash equivalents is regarded
as a reconciling item and presented separately in the cash flow statement as "effect of exchange rate
changes on cash and cash equivalents".
The opening balances and the comparative figures of previous year are presented at the translated amounts
in the previous year's financial statements.
On disposal of the Group's entire interest in a foreign operation, or upon a loss of control over a foreign
operation due to disposal of certain interest in it or other reasons, the Group transfers the accumulated
exchange differences arising on translation of financial statements of this foreign operation attributable to
the owners' equity of the Company and presented under owners' equity, to profit or loss in the period in
which the disposal occurs.
In case of a disposal or other reason that does not result in the Group losing control over a foreign
operation, the proportionate share of accumulated exchange differences arising on translation of financial
statements are re-attributed to minority interests and are not recognized in profit and loss. For partial
disposals of equity interests in foreign operations which are associates or joint ventures, the proportionate
share of the accumulated exchange differences arising on translation of financial statements of foreign
operations is reclassified to profit or loss.
9. Financial instruments
Financial assets and financial liabilities are recognized when the Group becomes a party to the contractual
provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value.
For financial assets and financial liabilities at fair value through profit or loss, transaction costs are
immediately recognized in profit or loss. For other financial assets and financial liabilities, transaction
costs are included in their initial recognized amounts.
9.1 The effective interest method
The effective interest method is a method of calculating the amortized cost of a financial asset or a
financial liability (or a 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 flows through the expected life of the financial asset or
financial liability or, where appropriate, a shorter period to the net carrying amount of the financial asset or
financial liability.
- 56 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.1 The effective interest method - continued
When calculating the effective interest rate, the Group estimates future cash flows considering all
contractual terms of the financial asset or financial liability (without considering future credit losses), and
also considers all fees paid or received between the parties to the contract giving rise to the financial asset
and financial liability that are an integral part of the effective interest rate, transaction costs, and premiums
or discounts, etc.
9.2 Classification, recognition and measurement of financial assets
On initial recognition, the Group’s financial assets are classified into one of the four categories, including
financial assets at fair value through profit or loss, held-to-maturity investments, loans and receivables, and
available-for-sale financial assets. All regular way purchases or sales of financial assets are recognized and
derecognized on a trade date basis.
The financial assets held by the Group mainly consist of loans and receivables and available-for-sales
financial assets.
9.2.1 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 accounts receivable, interest receivables, dividends receivable and other
receivable are included in this category.
Loans and receivables are subsequently measured at amortized cost using the effective interest method.
Gains or losses arising from derecognition, impairment or amortization are recognized in profit and loss for
the current period.
9.2.2 Available-for-sale 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.
Available-for-sale financial assets are subsequently measured at fair value, and gains or losses arising from
changes in the fair value are recognized as other comprehensive income, except that impairment losses and
exchange differences related to amortized cost of monetary financial assets denominated in foreign
currencies are recognized in profit or loss, until the financial assets are derecognized, at which time the
gains or losses are released and recognized in profit or loss.
Interest received during the period in which the Group holds the AFS financial assets and cash dividends
declared by the investee are recognized as investment income.
Investment in equity instrument which has no quote in an active market and whose fair value cannot be
reliably measured shall be measured at its cost.
- 57 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.3 Impairment of financial assets
The Group assesses, on each balance sheet date, the carrying amounts of financial assets other than those at
fair value through profit or loss. If there is objective evidence that a financial asset is impaired, the Group
determines the amount of any impairment loss. The objective evidence that a financial asset is impaired is
evidence that, arising from one or more events that occurred after the initial recognition of the asset, the
estimated future cash flow of the financial asset, which can be reliably measured, has been affected.
Objective evidence that a financial asset is impaired includes evidence arising from the following 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 Group, for economic or legal reasons relating to the borrower’s financial difficulty, granting a
concession to the borrower;
(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 difficulties;
(6) Upon an overall assessment of a group of financial assets, observable data indicates that there is a
measurable decrease in the estimated future cash flows from the 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. Such observable data includes:
- Adverse changes in the payment status of borrower in the group of assets;
- Economic conditions in the country or region of the borrower which may lead to a failure
to pay the group of assets;
(7) Significant adverse changes in the technological, market, economic or legal environment in which
the equity instrument issuer operates, indicating that the cost of the investment in the equity
instrument may not be recovered by the investor;
(8) A significant or prolonged decline in the fair value of an investment in an equity instrument below
its cost;
(9) Other objective evidence indicating there is an impairment of a financial asset.
- Impairment of financial assets carried at amortized cost
If financial assets carried at amortized cost are impaired, the carrying amounts of the financial assets are
reduced to the present value of estimated future cash flows (excluding future credit losses that have not
been incurred) discounted at the financial asset's original effective interest rate. The amount of reduction is
recognized as an impairment loss in profit and loss. If, subsequent to the recognition of an impairment loss
on financial assets carried at amortized cost, there is objective evidence of a recovery in value of the
financial assets which can be related objectively to an event occurring after the impairment is recognized,
the previously recognized impairment loss is reversed. However, the reversal is made to the extent that the
carrying amount of the financial asset on the date the impairment is reversed does not exceed what the
amortized cost would have been had the impairment not been recognized.
For a financial asset that is individually significant, the Group assesses the asset individually for
impairment. For a financial asset that is not individually significant, the Group assesses the asset
individually for impairment or includes the asset in a group of financial assets with similar credit risk
characteristics and collectively assesses them for impairment. If the Group determines that no objective
evidence of impairment exists for an individually assessed financial asset (whether significant or not), it
includes the asset in a group of financial assets with similar credit risk characteristics and collectively
reassesses them for impairment. Assets for which an impairment loss is individually recognized are not
included in a group of financial assets with similar credit risk characteristics for collective assessment of
impairment.
- 58 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.3 Impairment of financial assets - continued
- Impairment of AFS financial assets
For AFS equity instrument investment, at balance sheet date, if the fair value of one equity instrument
investment is lower than 50%(included 50%) of the cost, or lower than the initial cost of investment over
12 months (included 12 months), We consider that the fair value has serious or non-temporary decline,
which means impairment accrued.
When an available-for-sale financial asset is impaired, the cumulative loss arising from decline in fair
value previously recognized directly in other comprehensive income is reclassified to profit or loss. The
amount of the cumulative loss that is reclassified from capital reserve to profit or loss is the difference
between the acquisition cost (net of any principal repayment and amortization) and the current fair value,
less any impairment loss on that financial asset previously recognized in profit and loss.
If, subsequent to the recognition of an impairment loss on available-for-sale financial assets, there is
objective evidence of a recovery in value of the financial assets which can be related objectively to an
event occurring after the impairment is recognized, the previously recognized impairment loss is reversed.
The amount of reversal of impairment loss on available-for-sale equity instruments is recognized as other
comprehensive income, while the amount of reversal of impairment loss on available-for-sale debt
instruments is recognized in profit and loss.
- Impairment of financial assets carried at cost
If an impairment loss has been incurred on an investment in unquoted equity instrument (without a quoted
price in an active market) whose fair value cannot be reliably measured, or on a derivative financial asset
that is linked to and must be settled by delivery of such an unquoted equity instrument, the carrying
amount of the financial asset is reduced to the present value of estimated future cash flows discounted at
the current market rate of return for a similar financial asset. The amount of reduction is recognized as an
impairment loss in profit and loss. The impairment loss on such financial asset is not reversed once it is
recognized.
9.4 Transfer of financial assets
The Group transfers financial assets in the following two situations:
(1) the contractual rights to obtain cash flow of the financial assets are transferred; or
(2) it transfers financial assets to other entities, whilst it withholds the contractual rights to obtain cash
flow of the financial assets and pay the cash flow that it obtains to the ultimate recipient, and the
following conditions are satisfied simultaneously:
It is obliged for it to pay to the ultimate recipient only when it receives equal cash flow generated
from the financial assets. The following situation meets the condition: the Group has a short-term
advance while it has rights to recover the advance in full and charge interest based on bank loan
interest rates in the market during the same period.
According to the contract, the financial assets are not allowed to be sold or to be as collateral but
can be guarantee of payment of the cash flow to the ultimate recipient.
The Group is obliged to pay the received cash flow to the ultimate recipient in time. It has no
rights to reinvest the cash flow, except that according to the contract, it invests the received cash
flow in cash and cash equivalents investment in-between two adjacent payments. The Group shall
pay the investment income to the ultimate recipient if the Group conducts reinvestment according
to the contract.
- 59 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.4 Transfer of financial assets - continued
The Group derecognizes a financial asset or part of a financial asset when:
(1) The contractual rights to the cash flows from the financial asset expire; or
(2) It transfers the financial asset, meanwhile one or both of the following conditions is or are
satisfied:
- It transfers almost all the risks and rewards of ownership of the asset to another entity;
- It neither transfers nor retains substantially all the risks or the rewards of ownership but
has not retained control over the financial assets.
If the Group neither transfers nor retains substantially all the risks or the rewards of ownership of the
financial asset, and retains its control of the financial asset, it recognizes the financial asset to the extent of
its continuing involvement in the transferred financial asset and recognized an associated liability. The
extent of the enterprise's continuing involvement in the transferred asset is the extent to which it is exposed
to changes in the value of the transferred asset.
For a transfer of a financial asset in its entirety that satisfies the derecognition criteria, the difference
between (1) the carrying amount of the financial asset transferred; and (2) the sum of the consideration
received from the transfer and any cumulative gain or loss that has been recognized in other comprehensive
income, is recognized in profit and loss.
9.5 Classification, recognition and measurement of financial liabilities
Financial instruments issued by the Group are classified in accordance with the economic substance of the
contractual arrangements and the legal form as well as the definitions of a financial liability and an equity
instrument; on initial recognition, financial instruments or their component parts are classified as either
financial liabilities or equity instruments.
On initial recognition, financial liabilities are classified as either financial liabilities at 'fair value through
profit or loss' (FVTPL) or 'other financial liabilities'.
9.5.1 Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss consist of financial liabilities and financial liabilities
defined to be financial liabilities at fair value through profit or loss.
Financial liabilities which satisfy at least one of the following conditions shall be classified as financial
liabilities for trading: 1) the purpose of undertaking this financial liability is principally to repurchase it in
a short term; 2) the financial liability is a part of a portfolio of recognizable financial instruments under
centralized management, and objective evidence indicates that the Group manages the portfolio through
short-term profit mode in the recent period; 3) it is a derivative instrument, except the one that is
designated as an effective hedging instrument, or as a financial guarantee contract derivative instrument, or
the one linked to and which must be settled by delivery of an unquoted equity instrument (without a quoted
price in an active market) whose fair value cannot be measured reliably.
- 60 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.5 Classification, recognition and measurement of financial liabilities - continued
9.5.1 Financial liabilities at fair value through profit or loss - continued
Financial liabilities which satisfy at least one of the following conditions can be classified as financial
liabilities at fair value through profit or loss at initial recognition: 1) the classification can eliminate or
apparently reduce the inconsistency of relevant gain and loss in the respect of recognition and
measurement resulting from the difference of measurement bases of the financial liability; 2) a written
official document of the Group’s risk management or investment strategy clearly indicates that the
portfolio of financial liabilities or the portfolio of financial assets and financial liabilities which contains
the financial liability is managed, evaluated on the basis of fair value and reported to key management
personnel. 3) eligible hybrid instruments encompassing embedded derivative instruments.
Financial liabilities at fair value through profit or loss is subsequently measured at fair value. Gain and loss
caused by variation of fair value and dividends and interest expenses related to these financial liabilities are
recorded in the profit and loss for the current period.
9.5.2 Other financial liabilities
For a derivative liability that is linked to and must be settled by delivery of an unquoted equity instrument
(without a quoted price in an active market) whose fair value cannot be reliably measured, it is
subsequently measured at cost. Other financial liabilities other than financial guarantee contract obligations
are subsequently measured at amortized cost using the effective interest method, with gain or loss arising
from derecognition or amortization recognized in profit and loss.
9.5.3 Financial Guarantee Contract
In a financial guarantee contract, a guarantor and a creditor agree that the former performs the obligation or
liability in accordance with the agreement when debtor defaults. A financial guarantee contract that is not
specified as financial liabilities at fair value through profit or loss is initially recognized at fair value minus
direct transaction fees, and the subsequent measurement is based on the higher of the amount recognized in
accordance with Accounting Standards for Business Enterprises No.13 – Contingencies and the initially
recognized amount deducting the cumulative amortization in accordance with Accounting Standards for
Business Enterprises No.14 – Income.
9.6 Derecognition of financial liabilities
The Group derecognizes a financial liability fully or partially only when the underlying present obligation
(or part of it) is discharged. An agreement between the Group (an existing borrower) and an existing lender
to replace the original financial liability with a new financial liability with substantially different terms is
accounted for as an extinguishment of the original financial liability and the recognition of a new financial
liability.
When the Group derecognizes a financial liability fully or partially, it recognizes the difference between
the carrying amount of the financial liability (or part of the financial liability) derecognized and the
consideration paid (including any non-cash assets transferred or new financial liabilities assumed) in profit
and loss for the current period.
- 61 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.7 Financial Derivatives
Financial derivatives encompass interest rate collars, interest rate swaps, etc. Derivatives are initially
measured at fair value on the date when the derivative contracts are entered into and are subsequently
re-measured at fair value. The resulting gain or loss is recognized in profit and loss unless the derivative is
designated and highly effective as a hedging instrument, in which case the timing of the recognition in
profit and loss depends on the nature of the hedging relationship.
9.8 Offsetting financial assets and financial liabilities
When the Group has a legal right that is currently enforceable to offset the recognized financial assets and
financial liabilities, and intends either to settle on a net basis, or to realize the financial asset and settle the
financial liability simultaneously, financial assets and financial liabilities are offset with the net amounts
presented on the balance sheet. Otherwise, financial assets and financial liabilities are separately presented
on the balance sheet without offsetting.
9.9 Equity instruments
An equity instrument is a contract that reflects residual benefits in the assets of the Group after deducting
all of its liabilities. Equity instruments issued (including refinanced), repurchased, sold or cancelled by the
Group are treated as changes in equity. Changes in the fair value of equity instruments are not recognized.
Transaction costs related to equity transactions are deducted from equity.
The Group's distribution to holders of equity instruments are treated as a distribution of profits, payment of
stock dividends does not affect total shareholders' equity.
10. Receivables
10.1 Receivables that are individually significant and for which bad debt provision is individually assessed
Basis or monetary criteria for The Group recognizes accounts receivable of over RMB
determining an individually significant 5,000,000(included RMB5, 000,000) as individually
receivable significant receivables.
For receivables that are individually significant, the Group
assesses the receivables individually for impairment. For a
Method of determining provision for financial asset that is not impaired individually, the Group
receivables that are individually includes the asset in a group of financial assets with similar
significant and for which bad debt credit risk characteristics and collectively assesses them for
provision is individually assessed impairment. Receivables for which an impairment loss is
individually recognized are not included in a collective
assessment of impairment.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
10. Receivables - continued
10.2 Receivables for which bad debts is assessed in a group of financial assets with similar credit risk
characteristic
Method of determining provisions of bad debts in a group of financial assets with similar credit risk
characteristic
Receivables arising from limited service hotels Aging analysis
management and operation business in Mainland
China
Receivables arising from limited service hotels Aging analysis
management and operation business other than
Mainland China
Aging analysis for receivables for which bad debt provision is collectively assessed on a portfolio basis:
Receivables arising from limited service hotels management and operation business in Mainland China :
Aging Ratio of bad debt provision (%)
Within 3 months -
3-6 months 0.50
6 months-1year 25.00
After 1 year 100.00
Receivables arising from limited service hotels management and operation business other than Mainland
China:
Aging Ratio of bad debt provision (%)
0-120 days -
121-150 days 20.00
151-180 days 30.00
181days-1year 50.00
1-2 years 70.00
After 2 years 90.00
The Group believes, receivables other than the above shall be exposed to limited impairment risk and not
take further impairment test if no impairment occurs after individual impairment test.
10.3 Accounts receivable that are not individually significant but for which bad debt provision is
individually assessed:
Reasons for making individual bad debt The Group carries out individual impairment test on
provision account receivables to which objective evidences show
that special impairment occurs and on all other
receivables.
Bad debt provision methods Tested individually; If present value of estimated future
cash flows is less than its carrying amount, a provision
for impairment losses in respect of the deficit is
recognized in profit and loss for the period.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
11. Inventories
11.1 Classification of inventories
The Group's inventories include raw materials, finished goods, and merchandise. The 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.
11.2 Valuation method of inventories upon delivery
Cost of sales is determined using the first-in-first-out ("FIFO") method or weighted average method.
11.3 Basis for determining net realizable value of inventories
At the balance sheet date, inventories are measured at the lower of cost and net realizable value. If the cost
of inventories is higher than the net realizable value, a provision for decline in value of inventories is
recognized. Net realizable 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. The
Group determines the net realizable value of inventories based on solid evidence obtained and after taking
into consideration the purpose for which the inventory is held, and the effect of events occurring after the
balance sheet date.
For inventories, the excess of cost over the net realizable value is generally recognized 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 realizable value is higher
than the carrying amount, the amount of the write-down is reversed in profit and loss for the current period;
the reversal is limited to the amount originally provided for the decline in value of inventories.
11.4 The stock count system for inventories
The perpetual inventory system is adopted for stock count.
11.5 Amortization methods of low-value consumables and packaging materials
Packaging materials and consumables are amortized on one-off basis. Abundant consumables used by
newly-opened hotels shall be amortized within 12 months.
12. Long-term equity investments
12.1 Basis for determining joint control and significant influence over investee
Control exists when the investor has power over the investee; is exposed, or has rights, to variable returns
from its involvement with the investee; and has the ability to use its power over the investee to affect its
returns. Joint control is the contractually agreed sharing of control over an economic activity, and exists
only when the strategic financial and operating policy 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. When determining whether an investing enterprise is able to exercise control or significant
influence over an investee, the effect of potential voting rights of the investee (for example, warrants and
convertible debts) held by the investing enterprises or other parties that are currently exercisable or
convertible shall be considered.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
12. Long-term equity investments - continued
12.2 Determination of initial investment cost
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 is the attributable share of
the carrying amount of the shareholders' equity of the acquiree on the date of combination in the
consolidated financial statements of the ultimate controlling party. The difference between the initial
investment cost and the carrying amount of cash paid, non-cash assets transferred and liabilities assumed
adjusted to capital reserve. If the balance of capital reserve is not sufficient, any excess is adjusted to
retained earnings. If the consideration of the combination is satisfied by the issue of equity securities, the
initial investment cost of the long-term equity investment is the attributable share of the carrying amount of
the shareholders' equity of the acquiree in the consolidated financial statements of the ultimate controlling
party. The aggregate face value of the shares issued is accounted for as share capital. The difference
between the initial investment cost and the aggregate face value of the shares issued is adjusted to capital
reserve. If the balance of capital reserve is not sufficient, any excess is adjusted to retained earnings.
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 is the cost of acquisition on
the date of combination.
The intermediary fees incurred by the absorbing party or acquirer such as audit legal, valuation and
consulting fee, etc. and other related administrative expenses attributable to the business combination are
recognized in profit and loss when they are incurred.
The long-term equity investment acquired otherwise than through a business combination is initially
measured at its cost. When the entity is able to exercise significant influence or joint control (but not
control) over an investee due to additional investment, the cost of long-term equity investments is the sum
of the fair value of previously-held equity investments determined in accordance with Accounting Standard
for Business Enterprises No.22–Financial Instruments; Recognition and Measurement (ASBE No. 22) and
the additional investment cost.
12.3 Subsequent measurement and recognition of profit and loss
12.3.1. A long-term equity investment accounted for using the cost method
Long-term equity investments in subsidiaries are accounted for using the cost method in the Company's
separate financial statements. A subsidiary is an investee that is controlled by the Group.
Under the cost method, a long-term equity investment is measured at initial investment cost. When
additional investment is made or the investment is recouped, the cost of the long-term equity investment is
adjusted accordingly. Investment income is recognized in the period in accordance with the attributable
share of cash dividends or profit distributions declared by the investee.
12.3.2 A long-term equity investment accounted for using the equity method
The Group accounts for investment in associates and joint ventures using the equity method. An associate
is an entity over which the Group has significant influence; a joint venture is a joint arrangement whereby
the Group has rights to the net assets of the arrangement.
Under the equity method, where the initial investment cost of a long-term equity investment exceeds the
Group’s share of the fair value of the investee’s identifiable net assets at the time of acquisition, no
adjustment is made to the initial investment cost. Where the initial investment cost is less than the Group’s
share of the fair value of the investee’s identifiable net assets at the time of acquisition, the difference is
recognized in profit and loss for the period, and the cost of the long-term equity investment is adjusted
accordingly.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
12. Long-term equity investments - continued
12.3 Subsequent measurement and recognition of profit and loss - continued
12.3.2 A long-term equity investment accounted for using the equity method - continued
Under the equity method, the Group recognizes its share of the net profit or loss and other comprehensive
income made by the investee as investment income and other comprehensive income respectively, and
adjust the carrying amount of the long-term equity investment accordingly; The carrying amount of the
investment is reduced by the portion of any profit distributions or cash dividends declared by the investee
that is distributed to the Group; the share of changes in owners' equity of the investee other than those
arising from net profit or loss, other comprehensive income and profit distribution are recognized in the
capital reserve the carrying amount of the long-term equity investment is adjusted accordingly. The Group
recognizes its share of the investee's net profit or loss after making appropriate adjustments based on the
fair value of the investee’s individual separately identifiable assets, etc. at the acquisition date. Where the
accounting policies and accounting period adopted by the investee are not consistent with those of the
Group, the Group shall adjust the financial statements of the investee to conform to its own accounting
policies and accounting period, and recognize investment income and other comprehensive income based
on the adjusted financial statements. For the Group's transactions with its associates and joint ventures
where assets contributed or sold does not constitute a business, unrealized intra-group profits or losses are
recognized as investment income or loss to the extent that those attributable to the Group's proportionate
share of interest are eliminated. However, unrealized losses resulting from the Group's transactions with its
associates and joint ventures which represent impairment losses on the transferred assets are not
eliminated.
The Group discontinues recognizing its share of net losses of the investee after the carrying amount of the
long-term equity investment together with any long-term interests that in substance form part of its net
investment in the investee is reduced to zero. If the Group has incurred obligations to assume additional
losses of the investee, a provision is recognized according to the expected obligation, and recorded as
investment loss for the period. Where net profits are subsequently made by the investee, the Group
resumes recognizing its share of those profits only after its share of the profits exceeds the share of losses
previously not recognized.
12.4 Disposal of long-term equity investments
On disposal of a long-term equity investment, the difference between the proceeds actually received and
receivable and the carrying amount is recognized in profit and loss for the period.
13. Fixed assets
13.1 Recognition criteria for fixed assets
Fixed assets are tangible assets that are held for use in the production or supply of goods or services, for
rental to others, or for administrative purposes, and have useful lives of more than one accounting year. A
fixed asset is recognized only when it is probable that economic benefits associated with the asset will flow
to the Group and the cost of the asset can be measured reliably. Fixed assets are initially measured at cost.
Subsequent expenditures incurred for the fixed asset are included in the cost of the fixed asset if it is
probable that economic benefits associated with the asset will flow to the Group and the subsequent
expenditures can be measured reliably. Meanwhile the carrying amount of the replaced part is
derecognized. Other subsequent expenditures except for above expenditures that included in the cost of
fixed asset are recognized in profit and loss in the period in which they are incurred.
- 66 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
13. Fixed assets - continued
13.2 Depreciation methods
Depreciation is provided to write off the cost of each category of fixed assets after deducting their
estimated residual values over their estimated useful lives from the month after they are brought to
working condition for the intended use, using the straight-line method .For the fixed assets being provided
for impairment loss, the related depreciation charge is prospectively determined based upon the adjusted
carrying amounts over their remaining useful lives.
The useful lives, estimated net residual values rates and annual depreciation rates of each class of fixed
assets are as follows:
Residual Annual
Depreciation
Category Depreciation method value rate depreciation
period (years)
(%) rate (%)
Buildings Straight line method 20-60 0-10 1.58-4.50
Machinery and equipment Straight line method 3-20 0-10 4.50-30.00
Transportation vehicles Straight line method 4-10 5-10 9.00-23.75
Fixed assets improvements Straight line method 3-10 0 10.00-33.33
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.
13.3 Recognition, measurement and depreciation method of fixed assets leased under finance 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. The leased asset is recorded at the amount equal to
the lower of the fair value of the leased asset and the present value of the minimum lease payments.
Consistent depreciation policies are adopted to finance leased fixed assets except land, the land leased
under finance lease adopts the depreciation policies as same as the self-owned land use rights, Leased fixed
assets are depreciated over the estimated useful lives when it is reasonably determined that the ownership
of the asset will be obtained after the lease term is over. Otherwise, the leased assets are depreciated over
the shorter period between the lease term and the estimated useful lives of the assets.
13.4 Others
The Group reviews 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 is accounted for as a change in an accounting
estimate.
A fixed asset is derecognized on disposal or when no future economic benefits are expected from its use or
disposal. When a fixed asset is sold, transferred, retired or damaged, the Group recognizes the amount of
any proceeds on disposal of the asset net of the carrying amount and related taxes in profit and loss for the
current period.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
14. Construction in progress
Construction in progress is measured at its actual costs. The actual costs include various construction
expenditures during the construction period, borrowing costs capitalized before it is ready for intended use
and other relevant costs. Construction in progress is not depreciated. Construction in progress is transferred
to a fixed asset when it is ready for intended use.
15. Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying asset are
capitalized when expenditures for such asset and borrowing costs are incurred and activities relating to the
acquisition, construction or production of the asset that are necessary to prepare the asset for its intended
use or sale have commenced. Capitalization of borrowing costs ceases when the qualifying asset being
acquired, constructed or produced becomes ready for its intended use or sale. Capitalization of borrowing
costs is suspended during periods in which the acquisition, construction or production of a qualifying asset
is suspended abnormally and when the suspension is for a continuous period of more than 3 months.
Capitalization is suspended until the acquisition, construction or production of the asset is resumed. Other
borrowing costs are recognized as an expense in the period in which they are incurred.
Where funds are borrowed under a specific-purpose borrowing, the amount of interest to be capitalized is
the actual interest expense incurred on that borrowing for the period less any bank interest earned from
depositing the borrowed funds before being used on the asset or any investment income on the temporary
investment of those funds. Where funds are borrowed under general-purpose borrowings, the Group
determines the amount of interest to be capitalized on such borrowings by applying a capitalization rate to
the weighted average of the excess of cumulative expenditures on the asset over the amounts of
specific-purpose borrowings. The capitalization rate is the weighted average of the interest rates applicable
to the general-purpose borrowings.
16. Intangible assets
Intangible assets include land use rights, patent and relevant rights, beneficial rights of long-term lease,
trademark and brand, membership, software and so on
An intangible asset is initially measured at cost. An intangible asset with a finite useful life is amortized
using the straight-line method over its useful life when the asset is available for use. An intangible asset
with an indefinite useful life is not amortized. Each intangible asset amortization method, useful life (year)
and residual value are as follow:
Residual value
Category Amortization method Useful life(years)
rate (%)
Evenly amortized using straight line
Land use right 40 0
method by stage
Evenly amortized using straight line The remaining lease
Beneficial rights of long-term lease 0
method by stage contract term
Trademark and brand N/A Uncertain 0
Evenly amortized using straight line
Membership 20 0
method by stage
Evenly amortized using straight line
Patent, relevant rights and software 2-10 0
method by stage
For an intangible asset with a finite useful life, the Group reviews the useful life and amortization method
at least at end of the period and makes changes if necessary.
- 68 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
17. Impairment of intangible assets
The Group reviews the long-term equity investments, fixed assets, construction in progress, intangible
assets with finite useful life, leasehold improvement and decoration expenses, at each balance sheet date to
determine whether there is any indication that they have suffered an impairment loss. If an impairment
indication exists, the recoverable amount is estimated. Intangible assets with indefinite useful life and
intangible assets not yet available for use are tested for impairment annually, irrespective of whether there
is any indication that the assets may be impaired.
Recoverable amount is estimated on individual basis. If it is not practical to estimate the recoverable
amount of an individual asset, the recoverable amount of the asset group to which the asset belongs will be
estimated. The recoverable amount of an asset or asset group 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 or asset group.
If such recoverable amount is less than its carrying amount, a provision for impairment losses in respect of
the deficit is recognized in profit and loss for the period.
Goodwill is tested for impairment at least once at the end of each year. For the purpose of impairment
testing, goodwill is considered together with the related assets group(s) or combination(s) of assets groups,
i.e., goodwill is reasonably allocated to the related assets group(s) or each of assets group(s) expected to
benefit from the synergies of the combination. An impairment loss is recognized if the recoverable amount
of the assets group or sets of assets groups (including goodwill) is less than its carrying amount. The
impairment loss is firstly allocated to reduce the carrying amount of any goodwill allocated to such assets
group or sets of assets groups, and then to the other assets of the group pro-rata on the basis of the carrying
amount of each asset (other than goodwill) in the group.
Once any loss of asset impairment is recognized, it is not reversed in a subsequent period.
18. Long-term prepaid expenses
Long-term prepaid expenses are various expenditures incurred but that should be allocated over the current
and future periods of more than one year. Long-term prepaid expenses are evenly amortized over the
respective beneficial period.
19. Employee benefits
19.1 Accounting treatment of short-term compensation
Actually occurred short-term employee benefits are recognized as liabilities, with a corresponding charge
to the profit or loss for the period or in the costs of relevant assets in the accounting period in which
employees provide services to the Group. Staff welfare expenses incurred by the Group are recognized in
profit and loss for the period or the costs of relevant assets based on the actually occurred amounts when it
actually occurred. Non-monetary staff welfare expenses are measured at fair value.
Payment made by the Group of social security contributions for employees such as premiums or
contributions on medical insurance, work injury insurance and maternity insurance, etc. and payments of
housing funds, as well as union running costs and employee education costs provided in accordance with
relevant requirements, are calculated according to prescribed bases and percentages in determining the
amount of employee benefits and recognized as relevant liabilities, with a corresponding charge to the
profit or loss for the period or the costs of relevant assets in the accounting period in which employees
provide services.
- 69 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
19. Employee compensation - continued
19.2 Accounting treatment of post-employment benefits
Post-employment benefits comprise defined contribution plan and defined benefit plan.
During the accounting period in which the employees rendered services to the Group, the contribution
payable calculated based on defined contribution plan is recognized as liabilities, and recorded in profit or
loss or costs of relevant assets.
Welfare liabilities are attributed to the accounting period in which the employees rendered services to the
Group by using projected unit credit method based on the defined benefit plan and are recognized in profit
and loss for the current period or in relevant assets cost. Cost of employee benefits generated from the
defined benefit plan consist of the following:
Service cost (current service cost, past service cost and gain and loss from settlement)
Net interest of net liabilities or net assets based on defined benefit plan (plan-assets interest income,
interest expenses of defined benefit plan and interest influenced by assets upper limit), and
Variation arising from recalculating net liabilities and net assets based on defined benefit plan.
Cost service and net interest of net liabilities or net assets based on defined benefit plan are recognized in
profit and loss for the current period or in relevant assets cost. Variation arising from recalculating net
liabilities and net assets based on defined benefit plan (actuarial gain and loss, plan-asset rewards
deducting the amount recorded in the net interest of net liabilities or net assets based on defined benefit
plan, variation influenced by assets upper limit deducting the amount recorded in the net interest of net
liabilities or net assets based on defined benefit plan) is recognized in other comprehensive income.
19.3 Accounting treatment of termination benefits
When the Group provides termination benefits to employees, employee benefit liabilities are recognized
for termination benefits, with a corresponding charge to the profit or loss for the period at the earlier of: (1)
when the Group cannot unilaterally withdraw the offer of termination benefits because of the termination
plan or a curtailment proposal; and (2) when the Group recognizes costs or expenses related to
restructuring that involves the payment of termination benefits.
19.4 Accounting treatment of other long-term employee benefits
Net liabilities or net assets of other long-term employee benefits are recognized and measured in
compliance with regulations related to defined benefit plan. At the end of the accounting period, other
long-term employee benefits are recognized as three components: service cost, net interest of net liabilities
or net assets based on other long-term employee benefits and variation arising from recalculating net
liabilities and net assets based on other long-term employee benefits. Total net amount of these items are
recognized in profit and loss for the current period or in other relevant assets cost.
20. Provisions
Provisions are recognized when the Group has a present obligation related to a contingency, it is probable
that an outflow of economic benefits will be required to settle the obligation, and the amount of the
obligation can be measured reliably.
The amount recognized as a provision is the best estimate of the consideration required to settle the present
obligation at the balance sheet date, taking into account factors pertaining to a contingency such as the
risks, uncertainties and time value of money. Where the effect of the time value of money is material, the
amount of the provision is determined by discounting the related future cash outflows.
- 70 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
21. Revenue
21.1 Revenue from the sale of goods
Revenue is recognized when the Group has delivered products to the location specified in the sales
contracts and the distributor has confirmed the acceptance of the products. The Company remains no
effective control over the goods after the consignment and the economic benefits associated with the
transaction will flow to the Group, the relevant revenue can be reliably measured and specific revenue
recognition criteria have been met.
21.2 Revenue arising from the rendering of services
Revenue for the Group's provision of hotel accommodation services to external parties is recognized when
the services are rendered and the right of collect service charge is obtained.
Amounts received or receivable from business rendering service with awards points granted to customers
should be allocated between revenue from the service and fair value of awards points. Cash received or
amounts receivable less the fair value of awards points is recognized as revenue, the fair value of awards
points is recognized as deferred income.
When customers exchange awards points, the Group recognized amounts previously recorded as deferred
income as revenue calculated upon the basis of percentage of amounts exchanged to amounts expected to
be exchanged.
21.3 Income from initial fee
Income from initial fee is recognized on an accrual basis in accordance with relevant contracts or
agreements.
21.4 Income from central booking system
Income from central booking system is recognized on an accrual basis in accordance with relevant
contracts or agreements.
21.5 Membership income
Membership income is recognized on an accrual basis.
21.6 Interest income
The amount of interest income is determined according to the length of time for which the Group's
monetary funds are used by others and the effective interest rate.
22. Government grant
Government grants are transfer of monetary assets and non-monetary assets from the government to the
Group at no consideration. Government grants, according to the nature of the grants which are specified in
the relevant government documents, are classified as asset-related government grants or earnings-related
government grants.
A government grant is recognized only when the Group can comply with the conditions attaching to the
grant and the Group will receive the grant. If a government grant is in the form of a transfer of a monetary
asset, it is measured at the amount received or receivable.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
22. Government grant - continued
22.1 Accounting treatment and determining basis of government grant related to assets
Government grants of the Group included supporting funds for information platform, Xincheng hotel
project funds and Smartel project. Because the subsidy payments used for investing, researching and
developing of related assets, these payments are government grant of related assets.
A government grant related to an asset is recognized as deferred income, and evenly amortized to profit or
loss over the useful life of the related asset.
22.2 Accounting treatment and determining basis of government grant related to income
Government grants of the Group included financial subsidy for the Company, the supporting of Jin Jiang
Inn and promoting of Jingjiang Metropolo brand, these are government grant related to gain (loss).
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 is recognized as deferred income, and recognized in profit and
loss over the periods in which the related costs are recognized; if the grant is a compensation for related
expenses or losses already incurred, the grant is recognized immediately in profit and loss for the current
period.
23. Deferred tax assets/ deferred tax liabilities
Income tax expense comprises current tax expense and deferred tax expense.
23.1. Current income taxes
At the balance sheet date, current income tax liabilities (or assets) for the current and prior periods are
measured at the amount expected to be paid (or recovered) according to the requirements of tax laws.
23.2. Deferred tax assets and deferred tax liabilities
For temporary differences between the carrying amounts of certain assets or liabilities and their tax base,
or between the nil carrying amount of those items that are not recognized as assets or liabilities and their
tax base that can be determined according to tax laws, deferred tax assets and liabilities are recognized
using the balance sheet liability method.
Deferred tax is generally recognized for all temporary differences. Deferred tax assets for deductible
temporary differences are recognized to the extent that it is probable that taxable profits will be available
against which the deductible temporary differences can be utilized. However, for temporary differences
associated with the initial recognition of goodwill and the initial recognition of an asset or liability arising
from a transaction (not a business combination) that affects neither the accounting profit nor taxable profits
(or deductible losses) at the time of transaction, no deferred tax asset or liability is recognized.
For deductible losses and tax credits that can be carried forward, deferred tax assets are recognized to the
extent that it is probable that future taxable profits will be available against which the deductible losses and
tax credits can be utilized.
Deferred tax liabilities are recognized for taxable temporary differences associated with investments in
subsidiaries and associates, and interests in joint ventures, except where the Group is able to control the
timing of the reversal of the temporary difference and it is probable that the temporary difference will not
reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences
associated with such investments and interests are only recognized to the extent that it is probable that
there will be taxable profits against which to utilize the benefits of the temporary differences and they are
expected to reverse in the foreseeable future.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
23. Income tax - continued
23.2. Deferred tax assets and deferred tax liabilities - continued
At the balance sheet date, deferred tax assets and liabilities are measured at the tax rates, according to tax
laws, that are expected to apply in the period in which the asset is realized or the liability is settled.
Current and deferred tax expenses or income are recognized in profit and loss for the period, except when
they arise from transactions or events that are directly recognized in other comprehensive income or in
shareholders' equity, in which case they are recognized in other comprehensive income or in shareholders'
equity; and when they arise from business combinations, in which case they adjust the carrying amount of
goodwill.
At the balance sheet date, the carrying amount of deferred tax assets is reviewed and reduced if it is no
longer probable that sufficient taxable profits will be available in the future to allow the benefit of deferred
tax assets to be utilized. Such reduction in amount is reversed when it becomes probable that sufficient
taxable profits will be available.
23.3 Offsetting of income taxes
When the Group has a legal right to settle on a net basis and intends either to settle on a net basis or to
realize the assets and settle the liabilities simultaneously, current tax assets and current tax liabilities are
offset and presented on a net basis.
When the Group has a legal right to settle current tax assets and liabilities on a net basis, and deferred tax
assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the
same taxable entity or different taxable entities which intend either to settle current tax assets and liabilities
on a net basis or to realize the assets and liabilities simultaneously, in each future period in which
significant amounts of deferred tax assets or liabilities are expected to be reversed, deferred tax assets and
deferred tax liabilities are offset and presented on a net basis.
24. Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks
and rewards of ownership to the lessee. All other leases are classified as operating leases.
24.1 Accounting treatment of operating leases
24.1.1 The Group as lessee under operating leases
Operating lease payments are recognized on a straight-line basis over the terms of the relevant lease, and
are either included in the cost of related asset or charged to profit or loss for the period. Initial direct costs
incurred are charged to profit or loss for the period. Contingent rents are charged to profit or loss in the
period in which they are actually incurred.
24.1.2 The Group as lessor under operating leases
Rental income from operating leases is recognized in profit and loss on a straight-line basis over the terms
of the relevant lease. Initial direct costs with more than an insignificant amount are capitalized when
incurred, and are recognized in profit and loss on the same basis as rental income over the lease term.
Other initial direct costs with an insignificant amount are charged to profit or loss in the period in which
they are incurred. Contingent rents are charged to profit or loss in the period in which they actually arise.
- 73 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
24. Leases - continued
24.2 Accounting treatment of finance leases
24.2.1 The Group as lessee under finance leases
Related accounting treatment refer to Note (III) "13.3 Recognition, measurement and depreciation method
of fixed assets leased under finance leases ". Unrecognized finance charges are recognized as finance
charge for the period using the effective interest method over the lease term. Contingent rents are credited
to profit or loss in the period in which they are actually incurred. The net amount of minimum lease
payments less unrecognized finance charges is separated into long-term liabilities and the portion of
long-term liabilities due within one year for presentation.
25. Hedging Accounting
In order to avoid risks, the Group uses certain financial instruments as hedging tools. The hedging tools
that satisfy predetermined conditions are treated by applying hedging accounting method. The Group’s
hedging tools are principally cash flow hedging.
The relation between the hedging tool and the concerned hedging project, as well as the risk management
objectives and strategies of different hedging transactions, is recorded at the beginning of the hedging. In
addition, the effectiveness of the hedging is continuously evaluated afterwards in order to verify whether
the relevant hedging is highly effective during the accounting period during which the hedging relation is
designated.
Regarding derivatives that are designated as cash flow hedging and that meet the conditions, effective
hedging portion of change in fair value is recognized in other comprehensive income, whilst non-effective
hedging portion of change in fair value is recognized in profit and loss for the current period.
If the hedging on expected transaction leads to recognition of a financial asset or a financial liability, the
amount that has been recognized in other comprehensive income will be transferred out during the same
period during which the particular asset or liability influence profit and loss and be recognized in profit and
loss for the period. If the management deems that the net loss recognized in other comprehensive income
cannot be fully or partially offset in the coming accounting period(s), the amount that cannot be offset shall
be transferred out and be recognized in profit and loss for the period.
If the hedging on expected transaction leads to recognition of a non-financial asset or a non-financial
liability, the gain and loss recognized in other comprehensive income shall be transferred out and be
recognized in the initial cost of this non-financial asset or non-financial liability. If the net loss recognized
in other comprehensive income cannot be fully or partially offset in the coming accounting period(s), the
amount that cannot be offset shall be transferred out and be recognized in profit and loss for the period.
Except as described above, amount that has been recognized in other comprehensive income is transferred
out during the same period during which hedging-related expected transaction influences profit and loss,
and is recognized in profit and loss for the period.
Hedging accounting is terminated when the Group cancels the designation of hedging relations, hedging
tools expire or are sold out, and contracts terminate or are executed or no longer meet the conditions of
hedging accounting. Upon the termination of hedging accounting, the cumulative gain and loss that have
been recognized in other comprehensive income will be transferred out from other comprehensive income
and be recognized in profit and loss when expected transaction occurs and is recognized in profit and loss.
In contrast, the cumulative gain and loss that have been recognized in other comprehensive income will be
transferred out immediately and be recognized in profit and loss for the period if the expected transaction
does not occur.
- 74 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
26. Critical accounting estimates and judgements
The Group continuously evaluates the critical accounting estimates and key judgments applied based on
historical experience and other factors, including expectations of future events that are believed to be
reasonable under the circumstances.
Critical accounting estimates and judgments
The critical accounting estimates and key assumptions that have a significant risk of causing a material
adjustment to the carrying amount of assets and liabilities within the next financial year are outlined as
below:
26.1 Estimated useful lives and residual values of fixed assets
The Group's management determines the estimated useful lives and residual values for its fixed assets. This
estimate is based on the historical experience of the actual useful lives and residual lives of fixed assets of
similar nature and functions. It could change significantly as a result of changes in economic environment,
technical innovations and other conditions. The management will adjust the estimations where the actual
useful lives and residual values are different from estimated useful lives and residual values.
26.2 Estimated beneficial periods of leasehold improvement and decoration
The Group operates numbers of hotels with rental properties, and makes payments to leasehold
improvement and decoration of the hotels. Based on the historical experience and available information,
the leasehold improvement is amortized within shorter period among useful lives, lease terms and expected
beneficial periods. The management of the Group will revise the expectation where the estimated
beneficial period of leasehold improvement and decoration is different from the original expectation.
26.3 Useful life of land and trademark and brand
Useful life of land and trademark and brand is indefinite, deemed by the management, as the Group-owned
land and trademark will be utilized and will bring about expectant economic interest inflow in the
foreseeable future, and therefore neither land nor trademark is amortized. Nevertheless, whether
impairment indication of aforementioned land and trademark exists, management conducts impairment test
annually.
26.4 Deferred income tax assets and deferred income tax liabilities
Deferred income tax assets and liabilities are determined using tax rates that are expected to apply when
the related deferred income tax assets are realized or the related deferred income tax liabilities are settled.
The expected applicable tax rate is determined based on the enacted tax laws and regulations and the actual
situation of the Group. The management of the Group will revise the expectation where the intending tax
rate is different from the original expectation.
Deferred income tax assets are recognized to the extent that it is probable that future taxable profit will be
available against which the temporary differences can be utilized. The carrying amount of deferred income
tax assets is written down when it is expected that there is not sufficient taxable profits to be obtained to
utilize the temporary differences in the coming periods.
All the deductible tax losses and the deductible temporary differences are not recognized as deferred tax
assets as the Group is not assured that relevant deductible tax losses and deductible temporary differences
can be reversed in all probability. If actual gain generated in the future is superior to the estimate, the
corresponding deferred tax assets will be adjusted depending on circumstances and be recognized in the
consolidated income statement for the relevant period.
- 75 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
26. Critical accounting estimates and judgements - continued
26.5 Impairment for long-term equity investment, fixed assets, construction in progress, intangible assets
with finite life , leasehold improvement and decoration expenses
The Group’s management assesses at each of the balance sheet date whether long-term investments, fixed
assets, land-use right and leasehold improvement have any indication of impairment, in accordance with
the accounting policy stated in note (III) 17. The recoverable amount is the higher of an asset’s present
value of estimated future cash flows and fair value less costs to sell, which is estimated based on the best
information available to reflect the amount that is obtainable at each of the balance sheet date from the
disposal of the asset (net of the costs to disposal) in an arm’s length transaction between parties at a known
and willing basis, or the cash that is generated from continuous use of the assets. The estimation is likely to
be adjusted in each impairment test.
26.6 Impairment of receivables
The Group’s management estimates the provisions of impairment of accounts receivables and other
receivables by assessing their recoverability. Provisions are applied to accounts receivables and other
receivables where events or changes in circumstances indicate that the balances may not be collected and
require using estimation. Where the expectation is different from the original estimation, such difference
will have impact on carrying value of receivables and the impairment charge.
26.7 Impairment of goodwill
Goodwill is tested for impairment at least once at the end of each year. For the purpose of impairment
testing, goodwill is considered together with the related assets. The recoverable amounts of asset group or
asset groups determined based on the present value of expected future cash flows. Accounting estimate are
made for calculation.
The key assumptions and estimates to calculate the recoverable amounts are as follows: discount rate and
the growth rate of the average daily revenue from per available room (RevPAR). If the actual amounts are
different from the estimates, it will bring impacts on the recoverable amounts of asset group or asset
groups, hence resulted to impairment of goodwill.
26.8 Long-term employee benefits payable
At the end of each accounting year, the management invites experts to conduct actuarial valuation over the
Group’s defined benefit plan. The actuary valuation involves estimate of discount rate, long-term inflation
rate, wage growth and mortality. If the actual situation differs from estimate, the difference influences the
carrying amount of long-term employee benefits payable.
- 76 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
IV. TAXATION
Major tax types and tax rates
Tax rate and simple levy
Tax type Tax basis
rate
The Company and subsidiaries in Mainland China:
Value added tax ("VAT") on sales is
calculated on revenue from principal
Value added tax 5%, 6%, 11% or 17%
operations and paid after deducting input
VAT on purchases
Business tax Taxable revenue 5%(note 1)
Urban maintenance and construction tax Turnover tax 5% or 7%
Levy for Education Turnover tax 3%
Local levy for education Turnover tax 2%
Income tax Taxable income 15% or 25%(note 2)
Original cost of taxable property , rental
Property tax 1.2% or12%
income
Subsidiaries outof Mainland China :
Value added tax Taxable revenue 20% , 19.6% or 10%
Don mutuel des sociétés Taxable revenue 0.16%
Effort Construction Taxable employee salary 0.45%
Taxed'Apprentissage Taxable employee salary 0.68%
Formation Prof. Continue Taxable employee salary 0.15% ,1.05% or 1.60%
Income tax Taxable income note 3
The value added amount of companies in
Contribution for Value Added by business(CVAE) 0% - 1.5%
accordance with France Tax Law
Note 1: Pursuant to " Overall Implementation of Pilot Tax Reform from Business Tax to VAT " (Cai Shui
[2016] No. 36) which jointly issued by Ministry of Finance and Statement Administration of
Taxation on 23 March 2016, Value added tax has been levied on the Company and its domestic
subsidiaries since 1 May 2016.
Note 2: Pursuant to "Circular of Adjustment on Enterprise Income Tax Rate" (Zang Zheng Fa [2011] No.
14) issued by the People's Government of Tibet Autonomous Region, and preferential tax policies
of Western Development Campaign, the companies established in Tibet Autonomous Region are
levied Value added tax at rate of 15%. Accordingly, Tibet Jinjiang Inn's income tax rate is 15% for
2016.
Guangzhou Saiwen Softwares Development Co., Ltd. was granted as a High-Tech Enterprise in
2014, and its enterprise income tax rate is 15% for the three consecutive years since 2015.
The Company and other domestic subsidiaries are applicable for tax rate of 25%.
Note 3: GDL, a oversea subsidiary outside of Mainland China, is applicable for basic income tax rate of
33.33%, while if the total revenue exceeds EUR 7,630,000.00, the applicable income tax rate will
be increased to 34.43%.
Subsidiaries incorporated in Cayman Islands are exempted from enterprise income tax. The
income tax rates for subsidiaries incorporated in Hong Kong, Germany, Singapore, Austria and
Luxemburg are respectively 16.5%, 15%, 17%, 25% and 29.22%.
- 77 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS
1. Cash and bank balances
RMB
30 June 2016 31 December 2015
Item Amount in Amount in
Exchange rate Amount in RMB Exchange rate Amount in RMB
Foreign Currency Foreign Currency
Cash:
RMB 8,293,269.22 7,037,250.23
EUR 39,412.27 7.3750 290,665.49 -
Bank balances(note1):
RMB 5,185,781,775.28 3,225,749,605.30
USD 48,022,001.58 6.6312 318,443,496.90 2,024,024.00 6.4936 13,143,202.17
EUR 101,478,642.05 7.3750 748,404,985.09 111,731,571.72 7.0952 792,757,847.64
GBP 1,493,612.71 8.9212 13,324,817.72 1,049,375.05 9.6665 10,143,794.58
BRL 2,634,000.00 2.0543 5,411,072.42 3,134,000.00 1.6455 5,156,862.31
PLN 25,058,435.42 1.6625 41,660,496.22 31,113,722.38 1.6640 51,772,539.17
MAD 94,000.00 0.6785 63,782.32 93,000.00 0.6584 61,231.58
IDR 3,429,191,000.00 0.0005 1,732,009.53 3,429,518,000.00 0.0005 1,617,918.46
HKD 3,133,815.77 0.8547 2,678,472.34 784,467.86 0.8378 657,228.38
KRW 7,271,026.74 0.0057 41,787.51 -
Deposit in other financial
institution (note2):
RMB 1,138,096,439.75 633,744,162.73
Total 7,464,223,069.79 4,741,841,642.55
Note 1: The bank balances of the Group include time deposit of RMB 1,417,068,000.00 that pledged for
borrowings. (Opening balance: RMB 944,712,000.00). For details please refer to Note (V) 28.
The balances of the Group include frozen fund of RMB 4,687,687.94 for litigation (Opening
balance: nil). For details please refer to Note (V) 26.
Note 2: Deposit in other financial institution refers to the amount deposited Jin Jiang International
Finance Co., Ltd. (Non-bank financial institution as approved, hereinafter referred to as "Finance
Company")
2. Accounts receivable
(1) Disclosure of accounts receivable by categories:
RMB
30 June 2016 31 December 2015
Book balance Bad debt provision Book balance Bad debt provision
Ratio Ratio Ratio Ratio
Category Amount (%) Amount (%) Book value Amount (%) Amount (%) Book value
Accounts receivable that are
individually significant and for
- - - - - - - - - -
which bad debt provision has been
assessed individually
Accounts receivable for which bad
debt provision has been assessed by 683,194,256.61 96.83 102,529,192.24 15.01 580,665,064.37 518,092,264.71 97.03 96,675,734.93 18.66 421,416,529.78
credit risk portfolio
Accounts receivable that are not
individually significant but for
22,381,712.50 3.17 12,476.70 0.06 22,369,235.80 15,884,748.32 2.97 12,476.70 0.08 15,872,271.62
which bad debt provision has been
assessed individually
Total 705,575,969.11 100.00 102,541,668.94 14.53 603,034,300.17 533,977,013.03 100.00 96,688,211.63 18.11 437,288,801.40
- 78 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
2. Accounts receivable - continued
(2) Bad debt provision of the Company's accounts receivable that recognized by aging analysis:
RMB
30 June 2016
Aging
Amount Bad debt provision Ratio (%)
Within 3 months 467,596,233.41 - -
3-12 months 122,268,400.75 28,725,611.78 23.49
Over 12 months 93,329,622.45 73,803,580.46 79.08
Total 683,194,256.61 102,529,192.24 15.01
(3) Provision, collection or reversal of bad debts provisions for the period
RMB
31 December Translation
Item 2015 Provision Reversal reserve 30 June 2016
Bad debts provisoins 96,688,211.63 13,397,428.18 (11,684,476.11) 4,140,505.24 102,541,668.94
(4) Top five entities with the largest balances of accounts receivable
RMB
Proportion of the
amount to the total
Name of entity
Relationship with accounts receivable Bad debt
the Group Amount (%) provision Amount
Beijing Three Fast Technology Co., Ltd. The third party 29,317,610.51 4.16 8,645.33
Beijing Qunar Software Technology Co., Ltd The third party 13,526,143.68 1.92 607.85
Ctrip International Travel Agency(Shanghai) Co., Ltd The third party 13,178,261.32 1.87 850.35
Tenpay Technology Co., Ltd. The third party 6,335,947.11 0.90 -
Zhejiang Tmall Technology Co., Ltd. The third party 6,110,096.68 0.87 -
Total 68,468,059.30 9.72 10,103.53
3. Advances to suppliers
(1) The aging analysis of advances to suppliers is as follows:
RMB
30 June 2016 31 December 2015
Aging
Amount Ratio (%) Amount Ratio (%)
Within one year 279,318,561.14 100.00 61,504,108.88 100.00
Total 279,318,561.14 100.00 61,504,108.88 100.00
(2) Top five entities with the largest balances of advances to suppliers
RMB
Name of entity Relationship Closing balance Reasons for outstanding
Guangdong Fuhai Commerce Development Co., Ltd. The third party 6,918,430.82 Prepaid rental
Jiang Shihong The third party 5,358,475.16 Prepaid rental
Shanghai Airport(Group) Co., Ltd The third party 4,791,381.63 Prepaid rental
Beijing Seven Days Fengshengyuan Hotel Management Co., Ltd. The third party 3,691,899.66 Prepaid rental
EATONBRIDGE HOLDINGS LTD. The third party 3,315,599.87 Prepaid consultancy fees
Total 24,075,787.14
- 79 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
4. Interest receivable
RMB
Name 30 June 2016 31 December 2015
Time bank deposits 38,001,192.84 29,502,211.83
Deposits in Finance Company 7,700,845.85 5,253,347.51
Entrusted Loan 12,120.00 197,625.96
Total 45,714,158.69 34,953,185.30
5. Dividends receivable
RMB
31 December Translation Reasons for Impaired or
Item 2015 Increase Decrease reserve 30 June 2016 outstanding not
(1) Chang Jiang Security Co., Ltd. - 26,600,000.00 (26,600,000.00) - -
(2) Shanghai Kentucky Fried No
Chicken Co., Ltd. - 26,574,864.68 - - 26,574,864.68 Yet to be distributed
(3) Hangzhou Kentucky Fried Yet to be distributed No
Chicken Co., Ltd. 9,507,026.99 29,157,567.86 (12,420,939.34) - 26,243,655.51 completely
(4) Suzhou Kentucky Fried Chicken No
Co., Ltd. - 10,780,761.00 - - 10,780,761.00 Yet to be distributed
(5) Wuxi Kentucky Fried Chicken Yet to be distributed No
Co., Ltd. - 4,691,549.98 (2,320,000.00) - 2,371,549.98 completely
(6) Shenwan Hongyuan Securities No
Co., Ltd. - 1,663,284.90 - - 1,663,284.90 Yet to be distributed
(7) Shanghai New Asia Fulihua
Catering Co., Ltd. - 4,305,000.00 (4,305,000.00) - -
Yet to be distributed No
(8)Equity investment in GDL 614,905.51 - - 25,686.99 640,592.50 completely
(9)Others - 132,033.76 (132,033.76) - -
Total 10,121,932.50 103,905,062.18 (45,777,973.10) 25,686.99 68,274,708.57
6. Other receivables
(1) Disclosure of other receivables by category:
RMB
30 June 2016 31 December 2015
Book balance Bad debt provision Book balance Bad debt provision Book value
Ratio Ratio Book value Ratio Ratio
Category Amount (%) Amount (%) Amount (%) Amount (%)
Other receivables that are
individually significant and
for which bad debt 548,549,899.08 60.60 5,775,000.00 1.05 542,774,899.08 58,215,718.92 31.01 - - 58,215,718.92
provision has been assessed
individually
Other receivables for which
bad debt provision have
- - - - - - - - - -
been assessed by credit risk
portfolio
Other receivables that are
not individually significant
but for which bad debt 356,618,448.66 39.40 33,451,227.25 9.38 323,167,221.41 129,520,768.45 68.99 28,857,491.19 22.28 100,663,277.26
provision has been assessed
individually
Total 905,168,347.74 100.00 39,226,227.25 4.33 865,942,120.49 187,736,487.37 100.00 28,857,491.19 15.37 158,878,996.18
Other receivables that are individually significant and for which bad debt provision has been assessed
individually at end of the period:
RMB
Closing balance
Name of entity Bad debts Reasons for
Carrying amount Ratio (%)
provision provision
Shenzhen Yingmaiqi Electromechanical Projected to be
5,775,000.00 5,775,000.00 100
Equipment Co., Ltd. (Note) uncollectable
Total 5,775,000.00 5,775,000.00 100
Note: As equipment provided Shenzhen Yingmaiqi Electromechanical Equipment Co., Ltd., the supplier of
Keystone, is unavailable to use, Keystone requires the payback of relevant payments. At the end of the
reporting report, Keystone has made a bad debt provision for the recoverable amount of such accounts
receivable in full amount.
- 80 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
6. Other receivables - continued
(2) Provision, collection or reversal of bad debts provisions for the period
RMB
Increase in
Item acquisition of Translation
31 December 2015 subsidiaries Addition Reversal reserve 30 June 2016
Bad debt provision 28,857,491.19 3,046,081.34 6,807,978.23 (363,045.00) 877,721.49 39,226,227.25
(3) Other receivables by nature :
RMB
Nature 30 June 2016 31 December 2015
Equity acquisition consideration to be recovered (Note(VI)1) 480,656,509.90 -
Deposits 194,296,294.22 80,002,538.48
Business working capital 12,277,625.85 4,224,704.20
Demolition compensations (Note(V) 44) 14,499,250.00 -
Advances and others 203,438,667.77 103,509,244.69
Total 905,168,347.74 187,736,487.37
(4) Top five entities with the largest balances of other receivables
RMB
Proportion of
the amount to Closing
Relation with the
Name of entity Nature Closing balance Aging the total other balance of bad
Company
receivables debts provision
(%)
Equity acquisition
JP Morgan & Chase (Note(VI)1) consideration to be The third party 480,656,509.90 Within one year 53.10 -
recovered
Starwood (NC) Advances The third party 25,082,375.00 One to two years 2.77 -
Hangzhou Qianjiang Xincheng
Asset Operation and Management Deposits The third party 15,516,524.00 Within one year 1.71 -
Investment Co., Ltd.(Note)
Communauté d'Agglomération Demolition
The third party 14,499,250.00 Within one year 1.60 -
Rennes Metropole (Note (V) 44) compensation
Guangzhou Baidawu Information
Advances Related party 7,020,240.18 Within one year 0.78 -
Technology Co., Ltd.
Total 542,774,899.08 59.96 -
Note: It refers to the amount paid by Hangzhou Jinche Inn Hotels Investment and Management Co., Ltd.,
the subsidiary of Shanghai Jin Jiang International Hotel Investment Company Limited ("Hotel
Investment"), to Hangzhou Qianjiang Xincheng Asset Operation and Management Investment Co.,
Ltd. for performance bond and leasehold improvement deposits as per lease contract. Hotel
Investment is the subsidiary of the Company.
- 81 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
7. Inventories
(1) Category of inventories
RMB
30 June 2016 31 December 2015
Provision for the Provision for the
Item Cost decline in value Carrying amount Cost decline in value Carrying amount
Raw material 29,562,296.83 18,287.87 29,544,008.96 30,787,008.17 18,303.75 30,768,704.42
Finished goods 551,233.35 - 551,233.35 626,307.34 - 626,307.34
Goods on hand 44,628,885.80 2,697,066.23 41,931,819.57 22,101,712.39 2,790,969.92 19,310,742.47
Total 74,742,415.98 2,715,354.10 72,027,061.88 53,515,027.90 2,809,273.67 50,705,754.23
(2) Provision for decline in value of inventories
RMB
Category 31 December 2015 Reversal Translation reserve 30 June 2016
Raw materials 18,303.75 - (15.88) 18,287.87
Goods on hand 2,790,969.92 (43,431.60) (50,472.09) 2,697,066.23
Total 2,809,273.67 (43,431.60) (50,487.97) 2,715,354.10
8. Other current assets
RMB
Item 30 June 2016 31 December 2015
Prepaid tax 147,838,682.60 129,931,551.97
Deferred expenses 52,884,702.60 32,436,066.97
Entrusted loans(note) 15,395,204.57 -
Amount deposited with Alipay 10,855,878.90 -
Total 226,974,468.67 162,367,618.94
Note: It refers to entrusted loans from Keystone to its franchise outlets with annual interest rate of 6% to
12%.Keystone is a subsidiary of the Group.
9. Available-for-sale financial assets
(1) Available-for-sale financial assets
RMB
30 June 2016 31 December 2015
Item
Carrying amount Bad debt provision Book Value Carrying amount Bad debt provision Book Value
Available-for-sale equity instruments
- Measured at fair value 1,377,350,477.39 - 1,377,350,477.39 1,319,806,211.09 - 1,319,806,211.09
- Measured at cost 38,689,212.81 3,315,409.13 35,373,803.68 34,583,306.90 3,190,916.78 31,392,390.12
Total 1,416,039,690.20 3,315,409.13 1,412,724,281.07 1,354,389,517.99 3,190,916.78 1,351,198,601.21
(2) Available-for-sale financial assets measured at fair value at end of period
RMB
Available-for-sale
Category of available-for-sale financial assets
equity instruments
Cost of equity instruments 499,317,313.61
Fair value 1,377,350,477.39
Total changes in fair value of available-for-sale financial assets cumulatively
recognized in other comprehensive income 878,033,163.78
- 82 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
9. Available-for-sale financial assets - continued
(2) Available-for-sale financial assets measured at fair value at end of period - continued
RMB
Increase from Number of shares
Stock 31 December Change in fair Change for the
Name of investee business 30 June 2016 at end of the
code 2015 value period
combination period
Chang Jiang Security Co., Ltd. 000783 1,192,319,999.99 - (310,189,213.06) (29,530,786.94) 852,599,999.99 73,500,000
Bank of communications 601328 6,528,685.24 - (821,154.51) - 5,707,530.73 1,013,771
Quanjude 002186 2,198,984.00 - (326,023.28) - 1,872,960.72 95,608
Shenwan Hongyuan 000166 118,758,541.86 - (25,503,701.80) - 93,254,840.06 11,088,566
Ocean Imagination L.P. Note - 396,252,722.55 27,662,423.34 - 423,915,145.89 Note
Total 1,319,806,211.09 396,252,722.55 (309,177,669.31) (29,530,786.94) 1,377,350,477.39
Note: Keystone is a subsidiary of the Company. As the limited partner of Ocean Imagination L.P.,
Keystone holds 36.62% equity investment in it. As at end of the reporting period, Ocean Imagination L.P.
only holds 25.70% equity in eLong Inc.(“eLong”), accordingly the Group recognizes the fair value of
eLong's equity interest as available-for-sale financial assets. eLong was an listed company in NASDAQ
before the private equity buyout in June 2016.The Group believes that the price of private equity buyout is
approximate to the fair value of equity interests, so the fair value of available-for-sale financial assets is
determined on the basis of the price of private equity buyout.
- 83 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
9. Available-for-sale financial assets - continued
(3) Available-for-sale financial assets at cost at end of the reporting period
RMB
Carrying amount Impairment loss
Increase from Shareholding
Initial business Translation 31 December Translation proportion in
Investee investment cost 31 December 2015 combination Increase Decrease reserve 30 June 2016 2015 Increase reserve 30 June 2016 investees (%) Cash dividend
Hangzhou Kentucky Fried
12,265,725.33 12,265,725.33 - - - - 12,265,725.33 - - - - 8 29,157,567.86
Chicken Co., Ltd.
Suzhou Kentucky Fried Chicken
5,484,594.24 5,484,594.24 - - - - 5,484,594.24 - - - - 8 10,780,761.00
Co., Ltd.
Wuxi Kentucky Fried Chicken
3,761,343.20 3,761,343.20 - - - - 3,761,343.20 - - - - 8 4,691,549.98
Co., Ltd.
Chang Jiang United Development
700,000.00 700,000.00 - - - - 700,000.00 - - - - <1 -
Co., Ltd.
Shanghai Trade Center Company
5,187,700.00 5,187,700.00 - - - - 5,187,700.00 - - - - 3 111,000.00
Limited
Shanghai Jin Jiang International
1,469,473.95 1,469,473.95 - - - - 1,469,473.95 - - - - 15 -
Hotel Commodities Co., Ltd.
Guangzhou Wanruoguli
4,000,000.00 - 4,000,000.00 - - - 4,000,000.00 - - - - 10 -
Information Technology Co., ltd.
Others 6,064,470.18 5,714,470.18 350,000.00 - (462,182.02) 218,087.93 5,820,376.09 3,190,916.78 - 124,492.35 3,315,409.13 -
Total 38,933,306.90 34,583,306.90 4,350,000.00 - (462,182.02) 218,087.93 38,689,212.81 3,190,916.78 - 124,492.35 3,315,409.13 44,740,878.84
- 84 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10. Long-term equity investments
RMB
Changes for the period Closing
Adjustment on Provision balance of
Investee Increase from Additional other Other for provision for
31 December acquisition of capital Investment comprehensive equity Cash dividends or impairment Translation impairment
2015 subsidiaries contribution income income investment profit distribution loss reserve 30 June 2016 loss
Associates
Shanghai Kentucky Fried Chicken Co., Ltd. 128,783,162.53 - - 45,812,247.38 - - (26,574,864.68) - - 148,020,545.23 -
Shanghai Xinlu Catering Development Co., Ltd. 1,865,886.66 - - 129,449.49 - - - - - 1,995,336.15 -
Shanghai New Asia Fulihua Catering Co., Ltd. 27,949,957.21 - - 2,879,467.78 - - (4,305,000.00) - - 26,524,424.99 -
Shanghai Yoshinoya Co., Ltd. 2,112,632.51 - - (294,939.10) - - - - - 1,817,693.41 -
Shanghai Jing An Bakery Co., Ltd. 1,024,824.13 - - (739,096.38) - - - - - 285,727.75 -
Shanghai Xinjin Hotel Management Co., Ltd. 1,333,796.07 - - 47,805.85 - - - - - 1,381,601.92 -
SNC Invest Hotels Dix 90 9,671,239.36 - - 2,453.36 - - - - 380,785.36 10,054,478.08 -
SNC Rouen Annecy 6,501,039.55 - - - - - - - 256,354.33 6,757,393.88 -
SNC Lisieux 6,072,896.87 - - 2,989,846.88 - - - - 287,312.73 9,350,056.48 -
SNC Angers Montpellier Villeneuve Rennes Invest Hotels 8,151,084.51 - - 229,749.03 - - - - 325,049.26 8,705,882.80 -
SNC Chaville Bx Arles 5,862,893.88 - - 272,618.99 - - - - 235,487.93 6,371,000.80 -
SNC Bayeux Bergerac Blagnac 6,157,352.15 - - 144,053.72 - - - - 244,373.90 6,545,779.77 -
SNC Fontenay Dieppe 3,713,562.36 - - 898.49 - - - - 146,971.73 3,861,432.58 -
Saclay Invest Hotel - - 3,617,986.67 (349.86) - - - - 69,139.08 3,686,775.89 -
Ganzi Holy Shambhala Tourism Investment Co., Ltd.
- 3,550,706.93 - (493,444.64) - - - - - 3,057,262.29 -
("Holy Shambhala")
Guangzhou Minyan Information Technology Co., Ltd.
- 2,548,897.57 - (76,537.75) - - - - - 2,472,359.82 -
("Guangzhou Minyan Info")
Guangzhou Eggshell Network Technology Co., Ltd.
- 6,600,033.56 - (120,074.69) - - - - - 6,479,958.87 -
(" Guangzhou Eggshell Network")
Guangzhou Leji Information Technology Co., Ltd.
- 1,962,577.33 - (84,529.13) - - - - - 1,878,048.20 -
("Guangzhou Leji Information")
Shenzhen Fifth Space Apartment Hotel Management Co.,
- 2,819,766.69 - (188,731.55) - - - - - 2,631,035.14 -
Ltd.("Shenzhen Fifth Space Apartment")
Guangzhou Fulunzi Information Technology Co., Ltd.
- 2,925,473.49 - (94,659.50) - - - - - 2,830,813.99 -
("Guangzhou Fulunzi Information")
Guangzhou Chuangbianzhe Entry-Exit Service Co., Ltd.
- 716,824.01 750,000.00 11,684.08 - - - - - 1,478,508.09 -
(Guangzhou Chuangbianzhe")
Guangzhou Wormhole Network Technology Co., Ltd.
- 4,909,435.97 - (348,384.41) - - - - - 4,561,051.56 -
("Guangzhou Wormhole Network")
Guangzhou Qinyou Commercial Services Co., Ltd.
- 2,001,794.97 - 19,261.35 - - - - - 2,021,056.32 -
(:"Guangzhou Qinyou Commercial")
Guangzhou Xiaopang Information Technology Co., Ltd.
- 494,843.86 - (17,104.49) - - - - - 477,739.37 -
("Guangzhou Xiaopang Information")
Others 34,909,525.75 - - 468,511.95 - - - - 1,222,749.48 36,600,787.18 -
Total 244,109,853.54 28,530,354.38 4,367,986.67 50,550,196.85 - - (30,879,864.68) - 3,168,223.80 299,846,750.56 -
- 85 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
11. Fixed assets
(1) Information of fixed assets
RMB
Machinery and Transportation Fixed assets
Item Overseas land Buildings Total
equipment vehicles improvements
I、Original carrying amount
1.31 December 2015 1,206,981,028.82 7,959,828,679.93 2,338,377,781.72 8,954,557.20 484,702,675.69 11,998,844,723.36
2.Addition 45,418,216.76 169,938,260.28 474,248,598.63 444,923.51 19,938,144.68 709,988,143.86
(1)Purchase - 9,123,210.22 42,639,837.13 444,923.51 7,732,987.67 59,940,958.53
(2) Transferred from construction in progress 8,179,397.97 25,662,820.94 69,768,895.55 - 9,619,558.07 113,230,672.53
(3) Company consolidation - 8,160,783.30 342,387,860.32 - - 350,548,643.62
(4) Construction clearing adjustment - - 179,006.04 - - 179,006.04
(5) Translation reserve 37,238,818.79 126,991,445.82 19,272,999.59 - 2,585,598.94 186,088,863.14
3.Deduction (5,034,738.18) (12,976,963.60) (34,192,687.42) - (7,777,119.00) (59,981,508.20)
(1)Disposal (5,034,738.18) (9,754,315.05) (34,192,687.42) - (4,184,610.51) (53,166,351.16)
(2)Construction clearing adjustment - (3,222,648.55) - - (3,592,508.49) (6,815,157.04)
4.30 June 2016 1,247,364,507.40 8,116,789,976.61 2,778,433,692.93 9,399,480.71 496,863,701.37 12,648,851,359.02
II、Accumulated depreciation
1.31 December 2015 74,812,893.18 3,458,825,909.89 1,604,247,859.83 5,782,799.75 300,498,899.71 5,444,168,362.36
2.Addition 1,716,061.88 220,016,858.17 233,736,124.24 357,282.36 22,090,918.47 477,917,245.12
(1)Accrual 101,021.97 151,834,720.09 117,168,192.90 357,282.36 21,437,592.67 290,898,809.99
(2)Company consolidation - 1,974,121.85 105,697,604.61 - - 107,671,726.46
(3) Translation reserve 1,615,039.91 66,208,016.23 10,870,326.73 - 653,325.80 79,346,708.67
3.Deduction (537,369.53) (5,724,924.17) (29,785,683.31) - (3,764,051.67) (39,812,028.68)
(1)Disposal (537,369.53) (5,724,924.17) (29,785,683.31) - (3,764,051.67) (39,812,028.68)
4.30 June 2016 75,991,585.53 3,673,117,843.89 1,808,198,300.76 6,140,082.11 318,825,766.51 5,882,273,578.80
III、Provision for impairment loss
1.31 December 2015 - - 46,583.32 - - 46,583.32
2.Addition - - - - - -
3.Disposal or write off - - - - - -
4.30 June 2016 - - 46,583.32 - - 46,583.32
IV、Book Value
1. 30 June 2016 1,171,372,921.87 4,443,672,132.72 970,188,808.85 3,259,398.60 178,037,934.86 6,766,531,196.90
2. 31 December 2015 1,132,168,135.64 4,501,002,770.04 734,083,338.57 3,171,757.45 184,203,775.98 6,554,629,777.68
(2) Fixed assets under finance lease
RMB
Accumulated
Item
Carrying amount depreciation Book value
Land 114,519,000.00 66,375.00 114,452,625.00
Buildings 750,482,212.50 604,277,437.58 146,204,774.92
Equipment 16,565,927.11 11,513,523.26 5,052,403.85
Total 881,567,139.61 615,857,335.84 265,709,803.77
(3) Fixed assets of which certificates of title have not been obtained
On June 30th 2016, the amounts of fixed assets of which certificates of title have not been obtained are
RMB 166,212,362.96 belong to the subsidy Smartel Hotel management Co., Ltd. ("Smartel ")
(4) Pledged fixed assets
As at end of the reporting period, the subsidiaries' buildings with net book value of RMB156,463,086.75
were pledged for long-term borrowings. Details are set out in Note V (28) note 2.
- 86 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Construction in progress
(1) Construction in progress are as follows:
RMB
30 June 2016 31 December 2015
Item Provision for Provision for
Carrying amount Net book value Carrying amount Net book value
impairment loss impairment loss
I. Fixed assets decoration and improvement
Metropole Hotel 's construction in progress
Renovation of New Asia Hotel of "Metropole Hotel " 102,159,105.29 - 102,159,105.29 79,529,721.58 - 79,529,721.58
Renovation of Changsha Kaifu Metropole Hotel 83,251,738.98 - 83,251,738.98 83,251,822.59 - 83,251,822.59
Renovation of Hangzhou East Train Station Metropole Hotel 80,180,558.92 - 80,180,558.92 24,904,676.16 - 24,904,676.16
Renovation of Foshan Nanhai Guicheng Subway Jinjiang Inn 24,679,068.30 - 24,679,068.30 22,701,323.92 - 22,701,323.92
Renovation of Jinguang Linfen Jiefang Road Jinjiang Inn 22,142,017.03 - 22,142,017.03 21,200,920.65 - 21,200,920.65
Renovation of Campanile Dafang restaurant 21,314,137.18 - 21,314,137.18 - - -
Renovation of Shanghai Jiuting Husong Road Jinjiang Inn 19,886,898.48 - 19,886,898.48 18,279,372.38 - 18,279,372.38
Renovation of Nanhuating Metropole Hotel 19,840,252.62 - 19,840,252.62 20,086,119.43 - 20,086,119.43
Renovation of Shanghai Zhennan Jinjiang Inn 18,143,179.21 - 18,143,179.21 17,154,308.47 - 17,154,308.47
Renovation of Shenyang Sanhao Road Metropole Hotel 16,822,540.33 - 16,822,540.33 50,977.57 - 50,977.57
Renovation of Xuzhou South Minzhu Road Jinjiang Inn 15,584,801.01 - 15,584,801.01 14,295,093.18 - 14,295,093.18
Renovation of Shanghai Fengxian Nanqiao Channel Jinjiang Inn 15,017,971.43 - 15,017,971.43 11,886,157.80 - 11,886,157.80
Renovation of Shenyang Tawan Jinjiang Inn 14,576,357.10 - 14,576,357.10 6,113,949.28 - 6,113,949.28
Renovation of Hangzhou Binjiang Jianglin Road Jinjiang Inn 14,271,815.16 - 14,271,815.16 12,814,913.46 - 12,814,913.46
Renovation of Karymay Executive center Jinjiang Inn 9,935,780.17 - 9,935,780.17 111,650.00 - 111,650.00
Renovation of Tianjin Taierzhuang Road Jinjiang Inn 9,403,067.92 - 9,403,067.92 - - -
Renovation of Dunhuang Miaojie Jinjiang Inn 7,386,361.58 - 7,386,361.58 - - -
Renovation of Nanjing Metropole Hotel restaurant 6,435,844.60 - 6,435,844.60 - - -
Renovation of Yinchuan Qinghe South Street Jinjiang Inn 3,804,469.84 - 3,804,469.84 - - -
Renovation of Lushan Xiangshan Road Yunzhong Jinjiang Inn 10,689.20 - 10,689.20 19,631,679.25 - 19,631,679.25
Renovation of Metropole Hotel restaurant - - - 87,047,405.13 - 87,047,405.13
Renovation of Nanning Minzhu Road Jinjiang Inn - - - 25,831,893.88 - 25,831,893.88
Renovation of Chongqing Caiyuanba Train station Jinjiang Inn - - - 22,715,168.14 - 22,715,168.14
Renovation of Changchun Yiqi Dongfeng Street Jinjiang Inn - - - 19,852,779.55 - 19,852,779.55
Renovation of Yining Train Station Jinjiang Inn - - - 16,575,605.26 - 16,575,605.26
Renovation of Jiaxing South Train Station Jinjiang Inn - - - 15,981,461.03 - 15,981,461.03
Renovation of Qinzhou Government Jinjiang Inn - - - 13,759,287.03 - 13,759,287.03
Renovation of Shaoxing North Jiefang Road Jinjiang INN - - - 11,560,718.32 - 11,560,718.32
Other renovations of Metropole Hotel 8,953,231.86 - 8,953,231.86 7,233,702.36 - 7,233,702.36
Subtotal 513,799,886.21 - 513,799,886.21 572,570,706.42 - 572,570,706.42
GDL's construction in progress
Renovation of Louvre Htels Group 37,972,805.63 - 37,972,805.63 30,197,362.77 - 30,197,362.77
Renovation of Htels dupont de Suresnes 8,427,091.98 - 8,427,091.98 7,275,682.23 - 7,275,682.23
Renovation of Star Gt Holdco F 7,009,234.52 - 7,009,234.52 9,609,513.82 - 9,609,513.82
Renovation of LWIH Property Holding Poland 6,775,880.99 - 6,775,880.99 6,786,315.84 - 6,786,315.84
Renovation of Htel du Chateau(Fontainebleau) 3,966,331.05 - 3,966,331.05 2,880,740.60 - 2,880,740.60
Renovation of Golden Tulip Investments BV 2,323,125.00 - 2,323,125.00 2,234,988.00 - 2,234,988.00
Htel Grill Bordeaux Artigues 145,734.79 - 145,734.79 7,657,883.42 - 7,657,883.42
GDL's other renovations 70,474,429.85 - 70,474,429.85 35,176,925.99 - 35,176,925.99
Subtotal 137,094,633.81 - 137,094,633.81 101,819,412.67 - 101,819,412.67
Keystone's construction in progress
Construction of commercial properties 23,930,073.61 - 23,930,073.61 - - -
H12 quality improvement 5,524,769.36 - 5,524,769.36 - - -
Wowqu Shanghai-hotel renovation 3,814,947.85 - 3,814,947.85 - - -
Keystone's other renovations 7,949,553.20 - 7,949,553.20 - - -
Subtotal 41,219,344.02 - 41,219,344.02 - - -
II Software
Jinjiang Inn BI commercial smart platform and others 2,461,565.68 - 2,461,565.68 558,789.87 - 558,789.87
Keystone software 1,526,768.85 - 1,526,768.85 - - -
Total of software 3,988,334.53 - 3,988,334.53 558,789.87 - 558,789.87
Total 696,102,198.57 - 696,102,198.57 674,948,908.96 - 674,948,908.96
- 87 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Construction in progress - continued
(2) Movement of significant construction in progress:
RMB
Ratio of
Increase in Cumulative amount Including: amount of interest
Transfer to Transfer to long-term
Item 31 December 2015 acquisition of Addition Transfer to fixed assets Other Deduction Translation reserve 30 June 2016 of interest interest capitalization capitalization Source of Fund
intangible assets prepaid expenses
subsidiaries capitalization for this period for this period
(%)
Renovation of New Asia Hotel of "Metropole Hotel " 79,529,721.58 - 22,629,383.71 - - - - - 102,159,105.29 - - - Self-financing
Renovation of Changsha Kaifu Metropole Hotel 83,251,822.59 - - - - - (83.61) - 83,251,738.98 - - - Self-financing
Renovation of Hangzhou East Train Station Metropole Hotel 24,904,676.16 - 55,275,882.76 - - - - - 80,180,558.92 - - - Self-financing
Renovation of Foshan Nanhai Guicheng Subway Jinjiang Inn 22,701,323.92 - 1,977,744.38 - - - - - 24,679,068.30 - - - Self-financing
Renovation of Jinguang Linfen Jiefang Road Jinjiang Inn 21,200,920.65 - 941,096.38 - - - - - 22,142,017.03 - - - Self-financing
Renovation of Campanile Dafang restaurant - - 21,314,137.18 - - - - - 21,314,137.18 - - - Self-financing
Renovation of Shanghai Jiuting Husong Road Jinjiang Inn 18,279,372.38 - 1,607,526.10 - - - - - 19,886,898.48 - - - Shares issuing
Renovation of Nanhuating Metropole Hotel 20,086,119.43 - - - - - (245,866.81) - 19,840,252.62 - - - Self-financing
Renovation of Shanghai Zhennan Jinjiang Inn 17,154,308.47 - 988,870.74 - - - - - 18,143,179.21 - - - Self-financing
Renovation of Shenyang Sanhao Road Metropole Hotel 50,977.57 - 16,771,562.76 - - - - - 16,822,540.33 - - - Shares issuing
Renovation of Xuzhou South Minzhu Road Jinjiang Inn 14,295,093.18 - 1,289,707.83 - - - - - 15,584,801.01 - - - Shares issuing
Renovation of Shanghai Fengxian Nanqiao Channel Jinjiang Inn 11,886,157.80 - 3,131,813.63 - - - - - 15,017,971.43 - - - Shares issuing
Renovation of Shenyang Tawan Jinjiang Inn 6,113,949.28 - 8,462,407.82 - - - - - 14,576,357.10 - - - Self-financing
Renovation of Hangzhou Binjiang Jianglin Road Jinjiang Inn 12,814,913.46 - 1,456,901.70 - - - - - 14,271,815.16 - - - Self-financing
Renovation of Karymay Executive center Jinjiang Inn 111,650.00 - 9,824,130.17 - - - - - 9,935,780.17 - - - Shares issuing
Renovation of Tianjin Taierzhuang Road Jinjiang Inn - - 9,403,067.92 - - - - - 9,403,067.92 - - - Shares issuing
Renovation of Dunhuang Miaojie Jinjiang Inn - - 7,386,361.58 - - - - - 7,386,361.58 - - - Shares issuing
Renovation of Nanjing Metropole Hotel restaurant - - 6,435,844.60 - - - - - 6,435,844.60 - - - Self-financing
Renovation of Yinchuan Qinghe South Street Jinjiang Inn - - 3,804,469.84 - - - - - 3,804,469.84 - - - Shares issuing
Renovation of Lushan Xiangshan Road Yunzhong Jinjiang Inn 19,631,679.25 - 6,043,907.51 (3,756,051.32) - (21,908,846.24) - - 10,689.20 - - - Self-financing
Renovation of Metropole Hotel restaurant 87,047,405.13 - - (15,590,803.79) (9,670.00) (66,885,674.73) (4,561,256.61) - - - - - Self-financing
Renovation of Nanning Minzhu Road Jinjiang Inn 25,831,893.88 - 961,913.84 (4,954,826.50) - (21,838,981.22) - - - - - - Shares issuing
Renovation of Chongqing Caiyuanba Train station Jinjiang Inn 22,715,168.14 - - (4,674,749.23) - (17,206,603.84) (833,815.07) - - - - - Shares issuing
Renovation of Changchun Yiqi Dongfeng Street Jinjiang Inn 19,852,779.55 - 153,118.70 (3,263,357.84) - (16,742,540.41) - - - - - - Shares issuing
Renovation of Yining Train Station Jinjiang Inn 16,575,605.26 - 2,388.13 (3,276,807.64) - (13,287,371.49) (13,814.26) - - - - - Shares issuing
Renovation of Jiaxing South Train Station Jinjiang Inn 15,981,461.03 - (2,973,371.28) - (12,213,040.99) (795,048.76) - - - - - Shares issuing
Renovation of Qinzhou Government Jinjiang Inn 13,759,287.03 - (2,691,654.30) - (10,889,535.29) (178,097.44) - - - - - Shares issuing
Renovation of Shaoxing North Jiefang Road Jinjiang Inn 11,560,718.32 - 1,472,810.72 (2,389,562.66) - (10,643,966.38) - - - - - - Shares issuing
Renovation of Louvre Htels Group 30,197,362.77 - 18,357,012.19 (6,612,001.72) (4,823,390.55) - (438,885.10) 1,292,708.04 37,972,805.63 - - - Self-financing
Renovation of Htels dupont de Suresnes 7,275,682.23 - 1,211,528.65 (360,410.96) - - - 300,292.06 8,427,091.98 - - - Self-financing
Renovation of Star Gt Holdco F 9,609,513.82 - 6,522,127.31 (9,455,266.62) - - - 332,860.01 7,009,234.52 - - - Self-financing
Renovation of LWIH Property Holding Poland 6,786,315.84 - 21,016.84 (18,849.18) - - (6,715.08) (5,887.43) 6,775,880.99 - - - Self-financing
Renovation of Htel du Chateau(Fontainebleau) 2,880,740.60 - 956,950.32 - - - - 128,640.13 3,966,331.05 - - - Self-financing
Renovation of Golden Tulip Investments BV 2,234,988.00 - - - - - - 88,137.00 2,323,125.00 - - - Self-financing
Renovation of Htel Grill Bordeaux Artigues 7,657,883.42 - 143,480.10 (7,836,724.22) - - - 181,095.49 145,734.79 - - - Self-financing
Subtotal 631,979,490.74 - 208,547,163.41 (67,854,437.26) (4,833,060.55) (191,616,560.59) (7,073,582.74) 2,317,845.30 571,466,858.31
- 88 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Construction in progress - continued
(2) Movement of significant construction in progress: - continued
RMB
Cumulative Including: amount
Increase in Ratio of interest
Transfer to fixed Transfer to Transfer to long-term amount of of interest
Name of project 31 December 2015 acquisition of Addition Other Deduction Translation reserve 30 June 2016 capitalization for Source of Fund
assets intangible assets prepaid expenses interest capitalization for
subsidiaries this period (%)
capitalization this period
Construction of commercial properties - 23,811,617.67 118,455.94 - - - - - 23,930,073.61 - - - Self-financing
H12 quality improvement - - 5,524,769.36 - - - - - 5,524,769.36 - - - Self-financing
Wowqu Shanghai-hotel renovation - 2,974,962.75 839,985.10 - - - - - 3,814,947.85 - - - Self-financing
Jinjiang Inn BI commercial smart platform and others 558,789.87 - 3,050,301.75 (111,410.26) (1,036,115.68) - - - 2,461,565.68 - - - Self-financing
GDL's other renovations 35,176,925.99 - 61,132,390.55 (26,800,673.18) - - - 965,786.49 70,474,429.85 - - - Self-financing
Other constructions in progress in PRC 7,233,702.36 18,602,891.77 39,024,479.41 (18,464,151.83) (7,370,036.39) (14,822,331.41) (5,775,000.00) - 18,429,553.91 - - - Self-financing
674,948,908.96 45,389,472.19 318,237,545.52 (113,230,672.53) (13,239,212.62) (206,438,892.00) (12,848,582.74) 3,283,631.79 696,102,198.57
(3) No provision for impairment of construction in progress was made.
- 89 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
13. Intangible assets
RMB
Beneficial Right Patent, relevant
Trademark and
Item Land use rights of Long-term Membership rights and Total
brand(note)
leases software
I Carrying amount
1.31 December 2015 258,518,949.02 93,645,799.45 2,088,988,345.47 - 336,646,104.31 2,777,799,198.25
2. Addition 108,086,169.71 253,814,005.00 3,194,600,000.00 190,900,000.00 437,916,085.53 4,185,316,260.24
(1)Acquisition - - - - 1,305,786.83 1,305,786.83
(2)Transfer from construction
- - - - 13,239,212.62 13,239,212.62
in progress
(3)Increase in acquisition of
108,086,169.71 253,814,005.00 3,194,600,000.00 190,900,000.00 423,371,086.08 4,170,771,260.79
subsidiaries
3.Deduction - - - - (1,021,526.53) (1,021,526.53)
(1) Disposal - - - - (1,021,526.53) (1,021,526.53)
4. Translation reserve - 1,839,496.37 82,379,487.41 - 9,590,474.72 93,809,458.50
5.30 June 2016 366,605,118.73 349,299,300.82 5,365,967,832.88 190,900,000.00 783,131,138.03 7,055,903,390.46
II. Accumulated amortization
1.31 December 2015 71,351,127.79 23,191,857.52 - - 227,310,945.75 321,853,931.06
2. Addition 5,726,685.81 60,162,015.48 - 3,483,333.32 90,909,803.00 160,281,837.61
(1) Provision 4,049,718.10 14,530,260.75 - 3,483,333.32 39,930,097.39 61,993,409.56
(2)Increase in acquisition of
1,676,967.71 45,631,754.73 - - 50,979,705.61 98,288,428.05
subsidiaries
3. Deduction - - - - (110,000.10) (110,000.10)
(1) Disposal - - - - (110,000.10) (110,000.10)
4. Translation reserve - 114,673.07 - - 6,662,705.97 6,777,379.04
5.30 June 2016 77,077,813.60 83,468,546.07 - 3,483,333.32 324,773,454.62 488,803,147.61
III. Provision for impairment losses
1.31 December 2015 - - - - - -
2.Addition - - - - - -
3.Deduction - - - - - -
4.30 June 2016 - - - - - -
IV. Book Value
1.30 June 2016 289,527,305.13 265,830,754.75 5,365,967,832.88 187,416,666.68 458,357,683.41 6,567,100,242.85
2.31 December 2015 187,167,821.23 70,453,941.93 2,088,988,345.47 - 109,335,158.56 2,455,945,267.19
Note: The Group believes that the utilization of the trademarks and brands will bring projected economic
benefit inflow to the Group in the foreseeable future, so the useful life is infinite.
14. Goodwill
(1) Original carrying amount of goodwill
RMB
Name of the investee or entities causing
deriving goodwill 31 December 2015 Addition Translation reserve 30 June 2016
Keystone( note 1) - 5,644,223,388.69 - 5,644,223,388.69
GDL( note 2) 4,120,774,403.95 141,229,956.00 168,072,615.27 4,430,076,975.22
Shanxi Jinguang Inn Management Co., Ltd.
40,171,417.85 - - 40,171,417.85
("Jinguang Inn")
Smartel 51,785,803.21 - - 51,785,803.21
Shenzhen Duzhihua Inn Management Co., Ltd. - -
3,740,756.59 3,740,756.59
(“Duzhihua”)
Total 4,216,472,381.60 5,785,453,344.69 168,072,615.27 10,169,998,341.56
Note 1: The addition is arising from the costs of business combination in Keystone involving enterprises
not under common control less the net identifiable assets in the acquiree. (Details refer to Note
VI (1)).
Note 2: The Company's management increased goodwill arising from acquisition of GDL by EUR
1,065,000.00(equivalent to RMB 7,464,150.40) based on the best estimate of acquisition
consideration in February 2016. As of end of the financial reporting period, the negotiation and
determination of final consideration for acquisition of GDL are still in progress.
On January 2016, GDL combined 9 companies under Nordic Hotel AG Kiel GmbH (collectively
referred to as "Nordic") which not under common control, and the combination costs less the
share in net identifiable assets in the acquiree is EUR18,853,000.00 (equivalent to RMB
133,765,805.60 ), which is recognized as goodwill. Details refer to Note VI (1).
- 90 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
14. Goodwill - continued
(2) Provision of goodwill impairment
Allocation of goodwill to asset groups
The Group uses business segments as its primary segment for reporting segment information. For the
purpose of impairment testing, goodwill has been allocated to 5 asset groups, including an asset group
attributable to foreign operation and management of limited service hotels segment, an asset group
attributable to Plateno Group domestic operation and management of limited service hotels segment in
mainland China, and three asset groups attributable to Metropole Hotel domestic operation and management
of limited service hotels segment. The carrying amount of goodwill as at 30 June 2016 is allocated to the 5
asset groups and related provision for impairment as follows:
RMB
Cost Impairment 30 June 2016
Foreign operation and management of limited service
4,430,076,975.22 - 4,430,076,975.22
hotels segment -GDL
Plateno Group domestic operation and management of
5,644,223,388.69 - 5,644,223,388.69
limited service hotels segment -Keystone
Metropole Hotel domestic operation and management
40,171,417.85 - 40,171,417.85
of limited service hotels segment – Jinguang Inn
Metropole Hotel domestic operation and management
51,785,803.21 - 51,785,803.21
of limited service hotels segment – Smartel
Metropole Hotel domestic operation and management
3,740,756.59 - 3,740,756.59
of limited service hotels segment – Duzhihua
Total 10,169,998,341.56 - 10,169,998,341.56
Key assumption and basis for determine the recoverable amount of the above asset group:
The recoverable amount of asset group is determined by the present value of estimated future cash flow. The
key assumptions for estimation: the estimated growth rate and discount rate of RevPAR based on on the
previous performance of asset group and the anticipation of the market development. The management
believes that the any reasonable change in the above assumption will not cause the total carrying amount
exceeding the recoverable amount of asset group.
15. Long-term prepaid expenses
RMB
Other deduction
Item 31 December 2015 Addition (Note 1) Amortization Translation reserve 30 June 2016
(Note2)
Leasehold improvement of
fixed assets 1,348,822,105.12 1,258,799,568.82 (190,291,005.88) (8,025,056.19) 3,313,293.99 2,412,618,905.86
Leasehold decoration of fixed
assets 137,560,634.74 61,024,800.43 (26,151,431.95) - - 172,434,003.22
Others 12,969,582.83 - (2,523,832.87) (910,937.56) - 9,534,812.40
Total 1,499,352,322.69 1,319,824,369.25 (218,966,270.70) (8,935,993.75) 3,313,293.99 2,594,587,721.48
Note 1: The addition includes increase in acquisition of subsidiaries of RMB 1,110,984,956.80, amount
transferred from construction in progress of RMB 206,438,892.00, increase from acquisition of
RMB 1,718,673.63 and increase from construction completion of RMB 681,846.82.
Note 2: Other deduction includes decrease of long-term prepaid expenses arising from construction
completion of RMB 2,094,069.25, retirement of RMB 446,397.48 and decrease for impairment
of leasehold improvement of RMB 6,395,527.02.
- 91 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
16. Deferred tax assets/ liabilities
(1) Deferred tax assets before offsetting are set below:
RMB
30 June 2016 31 December 2015
Item Deductible temporary Deferred tax assets Deductible temporary Deferred tax assets
differences differences
Employee benefits payable 198,822,504.17 66,385,872.09 177,975,897.53 59,767,916.69
Accruals 41,122,443.36 10,280,610.84 - -
Advances of membership card and deferred 85,231,597.76 21,302,488.10 64,690,459.15 16,167,203.46
revenue on membership points
Operating lease fee 173,665,353.07 42,980,088.23 142,621,464.41 35,219,116.06
Government subsidy 23,293,604.19 5,823,398.70 25,251,604.19 6,312,901.05
Provision for impairment losses 84,145,414.79 21,036,167.18 12,666,125.98 3,166,344.99
Depreciation differences between tax base 12,670,152.05 3,167,538.01 16,905,137.72 4,226,284.43
and accounting base
Deductible loss(note) 1,827,732,249.67 594,796,615.82 1,562,652,502.16 528,199,384.42
Capitalized expenses 4,715,578.74 1,178,894.69 3,655,834.88 913,958.72
Others 55,370,718.92 14,584,179.65 23,563,360.64 6,513,396.11
Total 2,506,769,616.72 781,535,853.31 2,029,982,386.66 660,486,505.93
Note: Deductible loss of RMB 228,280,837.80 is arising from acquisition of Keystone.
(2) Deferred tax liabilities before offsetting are set below:
RMB
30 June 2016 31 December 2015
Item Taxable temporary Deferred tax Taxable temporary Deferred tax
differences liabilities differences liabilities
Changes in fair value of available-for-sale
financial assets recognized in other
comprehensive income 850,370,740.46 212,592,685.13 1,187,210,833.11 296,802,708.29
Adjustment of fair value of non-current
assets derived from business
combination involving enterprises not
under common control (note) 8,071,921,892.49 2,361,117,711.07 3,994,426,672.77 1,332,543,438.48
Financing lease fee 108,564,181.21 37,378,647.59 110,590,941.84 38,076,461.27
Difference of fixed asset depreciation
for tax purpose and accounting
purpose 118,837,698.98 40,915,819.76 120,197,462.50 41,383,986.34
Others 75,517,489.40 25,974,334.55 65,876,261.57 22,645,977.44
Total 9,225,212,002.54 2,677,979,198.10 5,478,302,171.79 1,731,452,571.82
Note: taxable temporary difference of RMB 3,988,088,401.88 is arising from acquisition of Keystone.
(3) Deferred tax assets or liabilities after offsetting are set below:
RMB
30 June 2016 31 December 2015
Offsetting between Deferred tax assets Offsetting between Deferred tax assets
Item deferred tax assets or Deferred tax deferred tax assets or Deferred tax
and deferred tax liabilities after and deferred tax liabilities after
liabilities offsetting liabilities offsetting
Deferred tax assets 280,283,548.52 501,252,304.79 260,089,930.83 400,396,575.10
Deferred tax liabilities 280,283,548.52 2,397,695,649.58 260,089,930.83 1,471,362,640.99
- 92 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
16. Deferred tax assets/ liabilities - continued
(4) Details of Unrecognized deferred tax assets:
RMB
Item 30 June 2016 31 December 2015
Deductible losses 671,788,918.21 413,750,764.05
Deductible temporary differences 43,751,739.98 44,438,759.48
Total 715,540,658.19 458,189,523.53
(5) Deductible losses where no deferred tax assets is recognized on will expire as follows:
RMB
30 June 2016 31 December 2015
2016 52,754,440.07 16,899,798.38
2017 100,529,085.43 37,272,783.04
2018 73,523,811.31 35,972,179.66
2019 119,405,324.05 84,520,506.00
2020 and subsequent years 325,576,257.35 239,085,496.97
Total 671,788,918.21 413,750,764.05
17. Other non-current assets
RMB
Item 30 June 2016 31 December 2015
Pledged deposits due after one year(Note V 28) 3,306,492,000.00 3,778,848,000.00
Interest on pledged deposits due after one year 155,110,634.32 96,451,789.44
Down payment and prepayments for equity acquisition
680,000,000.00 -
(Note (XII)1)
Rental for use of underground buildings 50,369,580.47 51,104,227.66
Entrusted Loan (note) 36,464,154.53 9,000,000.00
Deposits 34,218,859.75 32,476,793.47
Others 4,277,145.34 2,141,971.70
Total 4,266,932,374.41 3,970,022,782.27
Note: At the end of the reporting period, Keystone, the subsidiary of the Company, has issued to
franchisees entrusted loans of RMB 27,464,154.53 at annual interest rates ranging from 6% to 12%
while Finance Company, as entrusted by Hotels investment, has issued to Xinjin Hotel Management
Co., Ltd. entrusted loans of RMB 9,000,000.00 at an annual interest rate of 4.848%.
- 93 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
18. Provision for impairment loss of assets
RMB
Increase in
31 December Translation
Item acquisition of Addition Reversal Written-off 30 June 2016
2015 reserve
subsidiaries
I. Provision for bad debt 125,545,702.82 3,046,081.34 20,205,406.41 (12,047,521.11) - 5,018,226.73 141,767,896.19
II. Provision for impairment loss of inventories 2,809,273.67 - - (43,431.60) - (50,487.97) 2,715,354.10
III. Provision for impairment loss of available-
for-sale financial assets 3,190,916.78 - - - - 124,492.35 3,315,409.13
IV. Provision for impairment loss of held-to-
maturity financial assets - - - - - - -
V. Provision for impairment loss of long-term
equity investments - - - - - - -
VI. Provision for impairment loss of investment
property - - - - - - -
VII. Provision for impairment loss of fixed
Assets 46,583.32 - - - - - 46,583.32
VIII. Provision for impairment loss of
construction materials - - - - - - -
IX. Provision for impairment loss of construction
in progress - - - - - - -
X. Provision for impairment loss of capitalized
biological assets - - - - - - -
XI. Provision for impairment loss of oil and gas
assets - - - - - - -
XII. Provision for impairment loss of
intangible assets - - - - - - -
XIII. Provision for impairment loss of goodwill - - - - - - -
XIV. Provision for impairment loss of long-term
prepaid expenses - - 6,395,527.02 - - - 6,395,527.02
Total 131,592,476.59 3,046,081.34 26,600,933.43 (12,090,952.71) - 5,092,231.11 154,240,769.76
19. Short-term borrowings
Short-term borrowings by category:
RMB
Item 30 June 2016 31 December 015
Credit borrowings - bank (Note1) 9,712,084,189.73 4,309,091,457.30
Credit borrowings - other financial institution (Note2) 900,000,000.00 900,000,000.00
Pledged borrowings (Note 3) 1,865,325,000.00 -
Total(note 4) 12,477,409,189.73 5,209,091,457.30
Note 1: As at the end of reporting period, the Company obtained short-term borrowings with one year
maturity from the following entities: China Construction Bank Corporation amounting to
RMB2,000,000,000.00 at annual interest rate ranging from 3.915% to 4.14%; China Merchants
Bank Co., Ltd amounting to RMB1,900,000,000.00 at annual interest rate of 3.915%, among the
borrowings RMB 1,500,000,000.00 at floating interest rate; SPD Bank(Shanghai) amounting to
RMB1,800,000,000.00 at annual interest rate ranging from 3.915% to 4.14%; Shanghai Bank
Limited amounting to 500,000,000.00 at annual interest rate 3.915%; Agriculture Bank of China
amounting to RMB1,000,000,000.00 at annual interest rate 3.915%; Bank of China Limited
amounting to RMB1,000,000,000.00 at annual interest rate 3.915%; and Shanghai Rural
Commercial Bank amounting to RMB900,000,000.00 at annual interest rate 3.915%.
As of the financial reporting period, Smartel, a subsidiary of the Group obtained a one-year
short-term borrowings from Industrial and Commercial Bank of China with total amount of RMB
600,000,000.00 and annual interest rate of 3.915%.
- 94 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
19. Short-term borrowings - continued
Note 2: As of end of the financial reporting period, the Group obtained a credit borrowings from finance
company of RMB 900,000,000.00 which carries at an annual interest rate of 3.22% to 3.48%.
Note 3: As of the financial reporting period, Keystone, a subsidiary of the Group obtained a one-year
short-term borrowings from Bank of China with total amount of RMB 2,000,000,000.00 and
annual interest rate of 3.480%. This borrowing is guaranteed by Jin Jiang International, and
pledged with 18.9966% equity interest that collectively held by minority interests of Keystone.
As of end of the reporting period, the remaining borrowing balance is RMB 1,865,325,000.00.
Note 4: It includes a borrowing of RMB 1,512,084,189.73 which carries at floating interest rate.
20. Accounts payable
Details of accounts payable are as follows:
RMB
Item 30 June 2016 31 December 2015
Payables for operation 1,131,506,394.10 561,562,250.52
Payables for constructions 453,348,175.87 376,577,119.03
Total 1,584,854,569.97 938,139,369.55
21. Advances from customers
Details of advances from customers are as follows:
RMB
Item 30 June 2016 31 December 2015
Advance for goods 108,426,127.57 6,792,396.25
Advance for franchise 99,051,392.13 46,231,786.77
Advances for room fee and dining 127,158,203.26 69,623,473.12
Advances for membership card and stored value card 170,656,082.12 71,749,441.06
Others 20,217,578.97 -
Total 525,509,384.05 194,397,097.20
- 95 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
22. Employee benefits payable
(1) List of employee benefits payable
RMB
Item 31 December 2015 Addition Deduction 30 June 2016
1. Short-term benefits 310,391,862.96 1,351,055,007.44 1,253,351,797.20 408,095,073.20
2. Domestic post-employment benefits-defined
1,693,067.10 88,262,689.91 60,928,111.79 29,027,645.22
contribution plan
3. Termination benefits 18,618,033.08 1,592,785.87 5,070,180.04 15,140,638.91
Total 330,702,963.14 1,440,910,483.22 1,319,350,089.03 452,263,357.33
(2) List of short-term employee benefits payable
RMB
31 December
Item Addition Deduction 30 June 2016
2015
I. Wages or salaries, bonus, allowance, subsidies 219,163,641.07 1,062,281,626.07 1,013,217,816.04 268,227,451.10
II. Staff welfare 6,068.16 22,372,264.67 22,372,234.67 6,098.16
III. Domestic social insurance 2,028,439.69 48,803,806.75 32,258,601.90 18,573,644.54
Including: Medical insurance 1,952,962.51 42,351,355.04 28,232,725.48 16,071,592.07
Work injury insurance 25,604.22 2,473,896.27 1,580,689.22 918,811.27
Maternity insurance 49,872.96 3,978,555.44 2,445,187.20 1,583,241.20
IV. Domestic housing fund 1,019,136.23 58,738,883.69 18,939,885.54 40,818,134.38
V. Overseas social insurance 86,167,053.28 147,568,417.98 155,346,457.55 78,389,013.71
VI. Labor union and education fund 1,998,756.71 6,763,350.09 6,690,143.31 2,071,963.49
VII. Others 8,767.82 4,526,658.19 4,526,658.19 8,767.82
Total 310,391,862.96 1,351,055,007.44 1,253,351,797.20 408,095,073.20
(3) Domestic post-employment benefits-defined contribution plan
RMB
Item 31 December 2015 Addition Deduction 30 June 2016
1. Pension insurance 1,548,895.71 82,396,012.20 57,206,071.67 26,738,836.24
2.Unemployment insurance 144,171.39 5,866,677.71 3,722,040.12 2,288,808.98
Total 1,693,067.10 88,262,689.91 60,928,111.79 29,027,645.22
The Company and its domestic subsidiaries follows policies to join in pension insurance and
unemployment insurance plans which are established by government. According to these plans, the Group
follows specific rates of monthly average salaries last year to deposit payments for these plans monthly.
Except for the monthly fee deposit mentioned above, the Group and its domestic subsidiaries assume no
further payment obligations. Corresponding expenses are expensed into current period P&L or incurred as
costs of related assets.
The Company and its domestic subsidiaries shall contribute RMB56, 514,129.04 and RMB 3,648,230.58
to pension insurance and unemployment insurance plan respectively in this reporting period. On June 30,
2016, the Group still has outstanding contribution of RMB 26,738,836.24 and RMB 2,288,808.98 for
pension insurance and unemployment insurance respectively.
- 96 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
23. Taxes payable
RMB
Item 30 June 2016 31 December 2015
Value added tax 111,601,474.80 48,533,402.19
Business tax 424,739.54 12,852,508.17
Enterprise Income tax 91,829,031.80 124,355,804.71
Individual income tax 12,172,982.69 2,848,731.75
House property tax 5,922,936.08 7,093,797.80
Other domestic tax 13,794,843.94 9,762,453.41
Other foreign tax 44,949,274.63 41,791,014.05
Total 280,695,283.48 247,237,712.08
24. Interest payable
RMB
Item 30 June 2016 31 December 2015
Interest payable for long-term borrowings 29,623,474.70 13,229,717.09
Interest payable for short-term borrowings 12,750,087.33 6,886,855.21
Total 42,373,562.03 20,116,572.30
25. Dividends payable
RMB
Name of entity 30 June 2016 31 December 2015
Dividends payable due to A share shareholders 429,303.93 395,560.41
Dividends payable due to minority interest of non-wholly
20,970.81 193,587.35
owned subsidiaries of GDL
Total 450,274.74 589,147.76
26. Other payables
(1) Details of other payables are as follows:
RMB
Item 30 June 2016 31 December 2015
Agency fund 306,207,842.87 16,394,865.42
Down payments and deposits 96,654,361.91 19,081,627.80
Performance bond for non-public issue (Note(III)) 91,118,465.72 90,635,621.93
Accrued expenses 81,748,369.31 54,232,809.17
Accrued taxes for replacement of significant assets and
58,623,448.29 58,623,448.29
attached transactions (Note(II)A)
Deposit for construction 39,179,425.14 23,565,286.40
Payment for Project Cooperation (Note(II)B) 30,000,000.00 -
Outstanding payment of subsidiary acquisition
22,862,500.00 24,548,934.14
(Note(III))
Accounts payable for the transfer of Hunan Huatian
15,362,764.00 -
Star Hotel Management Co., Ltd. (Note(II)C)
Accrued commission for equity acquisition 14,294,130.57 5,814,869.44
Litigation fees payable (Note(IV)) 10,852,437.20 -
Accounts payable for the equity interest transfer of
9,796,303.25 9,796,303.25
Smartel (Note(II)D)
Others 59,364,212.11 45,283,702.18
Total 836,064,260.37 347,977,468.02
- 97 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
26. Other payables - continued
(2) Explanations of other payables aging over 1 year with significant amount:
At the end of the reporting period, other payables aging over 1 year with significant amount include:
A.The accrual amount of significant replacement and related transactions payment and involved taxation is
RMB 58,623,448.29 that should be paid by the Company after the report and verification of the involved
taxation.
B.Keystone's payables for project cooperation amounted to RMB 30,000,000.00, which was received from
the third cooperation party for the development of commercial property project in 2013. As of end the
reporting period, this project was yet to commence. The amount will be used for cooperation project
expenditures in the future.
C.The equity transfer amount due Hunan Huatian Star Hotel Management Co., Ltd. of RMB 15,362,764.00
shall be paid by Keystone. This amount is the outstanding balance payment as the transferor fails to fully
perform contract terms.
D.The Company has to pay RMB 9,796,303.25which is the amount of equity transfer to Smartel. This
amount of equity transfer is treated as deposit of transaction and will be paid after getting over of Smartel's
flawed business.
(3) Except for item (2) above, as of end of the reporting period, the other payables with significant amount
include performance bonds of RMB 91,118,465.72 which is due from investors for non-public stock
offering after the reporting period, (Note XII 2), and the outstanding estimated payment for GDL
acquisition of subsidiaries of RMB 22,862,500.00.
(4) As of end of the reporting period, Keystone has litigation payable of RMB 10,852,437.20 as per
litigation results. Meanwhile, bank deposits of RMB 4,687,687.94 was frozen accordingly.
(5) Except for item (2), (3) and (4), other payables of the Group mainly include accrues lease expenses,
collection charge on behalf of others, deposits, etc., which are related to daily operation.
27. Non-current liabilities due within one year
(1) Details of non-current liabilities due within one year are as follows:
RMB
Item 30 June 2016 31 December 2015
Long-term borrowings due within one year 2,859,438,106.42 6,543,659.66
Long-term payables due within one year 9,340,929.50 9,734,144.94
Other non-current liabilities due within one year 4,816,000.00 4,816,000.00
Total 2,873,595,035.92 21,093,804.60
(2) Please refer to Note (V) 28 for the details of long-term borrowings due within one year.
(3) Please refer to Note (V) 29 for the details of long-term payables due within one year.
(4) Please refer to Note (V) 32 for the details of other non-current liabilities due within one year.
- 98 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
28. Long-term borrowings
RMB
Item 30 June 2016 31 December 2015
Pledged borrowings(note 1) 14,429,943,334.75 9,147,875,942.00
Mortgage loan (note 2) 77,686,731.27 81,444,791.35
Credit borrowing 82,626,750.59 85,902,274.58
Entrusted loans (note 3) 4,500,000.00 4,500,000.00
Total (note 4) 14,594,756,816.61 9,319,723,007.93
Less: Long-term loan due within 1 year 2,859,438,106.42 6,543,659.66
Long-term loan due after one year 11,735,318,710.19 9,313,179,348.27
Note 1: As at end of the reporting period, the Group borrowed a total amount of EUR 1,289,483,842.00
(equivalent to RMB 9,509,943,334.75) from Industrial & Commercial Bank of China, including
EUR 386,845,152.60 (equivalent to RMB 2,852,983,000.42) borrowings due within one. Such
borrowing is pledged by time deposit of RMB 1,417,068,000.00 due within one year, time
deposit of RMB 3,306,492,000.00 due after one year and ownership of Sailing Investment (a
subsidiary of the Group), and was guaranteed by Jin Jiang International. The tenure of the
borrowing is from 19 May 2015 to 18 May 2018. The annual interest rate is floating, and
weighted average interest rate is 1.14%.
As at end of the reporting period, the Group obtained borrowing of RMB 4,920,000,000.00 from
Export-Import Bank of China, which was pledged by 81.0034% equity of Keystone. The tenure
of the borrowing is from 18 February 2016 to 18 February 2022. The annual interest rate is
floating, and weighted average interest rate is 3.25%.
Note 2: As at end of the reporting period, the subsidiary of the Group obtained borrowing of PLN48,
945,849.35 (equivalent to RMB 77,686,731.27) from overseas banks, which including
borrowings due within one year of RMB 6,455,106.00. The relevant subsidiaries pledged their
fixed assets for collateral, details are set out in Note V 11(4). The maturity date of the borrowing
is 31 March 2023, and annual interest rate is the three-month interest rate of Poland Inter Bank
Offered Rate plus 2.70 percentage.
Note 3: As at end of the reporting period, Shenyang Nonstaple Food Group (a subsidiary of Hotel
Investment) obtained borrowings of RMB 4,500,000.00 from Shenyang Nonstaple Food Group
with tenure from 30 December 2014 to 29 December 2017 and annual interest rate of 1.2%.
Note 4: It includes borrowing of RMB 14,585,513,217.68 which carries at floating interest rate.
29. Long-term payables
(1) Nature of long-term payables are as follows:
RMB
Item 30 June 2016 31 December 2015
Finance lease payable 152,942,519.50 152,007,228.70
Others 59,000.00 56,761.60
Total 153,001,519.50 152,063,990.30
- 99 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
29. Long-term payables - continued
(2) Details of long-term financial lease payables are as follows:
RMB
30 June 2016
1st year subsequent to the balance sheet day 18,787,468.37
2nd year subsequent to the balance sheet day 18,787,468.37
3rd year subsequent to the balance sheet day 18,787,468.37
Subsequent periods 225,029,742.67
Total minimum lease payment 281,392,147.78
Less: Unrecognized financing costs 119,108,698.78
Financial lease payables (note) 162,283,449.00
Including: due within one year 9,340,929.50
due after one year 152,942,519.50
There is no guarantee from third party for the Group's finance lease.
Note: Financial lease payables of RMB 156,615,500.00 is carried at floating interest rate, and RMB
121,997,250.00 of which are with interest rate swap agreement. Details are set out in Note V 50.
30. Long-term employee benefits payable
(1) Long-term employee benefits payable
RMB
Item 30 June 2016 31 December 2015
Post-employment benefits – Net liabilities derived
175,505,537.38 161,863,492.93
from defined benefit plan
Total 175,505,537.38 161,863,492.93
It is determined by GDL on the basis of the geographical location, industry, and salary agreement, length of
service and salary levels of employees.
(2) Changes in defined benefit plan
RMB
Period from 1 January to Period from 1 January to
Item
30 June 2016 30 June 2015
I. Opening balance 161,863,492.93 -
II. Increase in acquisition of subsidiary - 158,746,996.46
III. Defined benefit costs recognized in profit
2,382,446.51 (4,673,263.29)
and loss for the current period
Current service cost 1,943,765.34 1,458,430.01
Gain and loss from settlement - (6,510,289.45)
Net interest 438,681.17 378,596.15
IV. Other defined benefit costs recognized in
6,824,578.00 1,304,163.47
other comprehensive income
Actuarial loss 6,824,578.00 1,304,163.47
V. Payment during the current period (2,060,389.29) (1,654,620.51)
VI. Translation reserve 6,495,409.23 (1,349,059.01)
VII. Closing balance 175,505,537.38 152,374,217.12
Introduction to the defined benefit plan and its risk and its influence on the GDL's future cash flow, time
and uncertainty.
- 100 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
30. Long-term employee benefits payable - continued
(2) Changes in defined benefit plan - continued
The defined benefit plan renders GDL faced with actuarial risks encompassing interest rate risk, life
expectancy risk and inflation risk. Yield rate of government bonds reduces, leading to an increase in the
present value of liabilities arising from the defined benefit plan. The present value of liabilities arising
from the defined benefit plan is based on the best evaluation of mortality of participants whose life
extension would lead to an increase in the planned liabilities. In addition, the present value of liabilities
arising from the defined benefit plan is correlated to the standard of future payment which is determined by
inflation rate, and therefore the increase of inflation rate will result in an increase in the planned liabilities.
GDL invites SPAC, an actuarial service provider, to evaluate the present value of aforementioned
post-employment benefit plan by adopting the expected cumulative welfare unit method. According to the
plan, inflation rate and mortality are taken into account to assume the future cash outflow, and the present
value is determined by the discount rate. Furthermore, the discount rate is calculated based on the yield
rate of high-quality corporate bonds, which match the term and currency of the defined benefit plan on the
balance sheet date, in an active market. GDL invites SPAC, an actuarial service provider, to evaluate the
present value of aforementioned post-recognized the liabilities according to the actuarial results, and the
relevant actuarial gain and loss are recognized in other comprehensive income (reversal to profit and loss
in the subsequent accounting periods is prohibited). The past service cost is recognized in profit and loss
for the current period while the plan is revised. Net interest is calculated by multiplying net liabilities or
assets arising from defined benefit plan by an appropriate discount rate.
Significant actuarial assumptions encompassing discount rate, inflation rate and mortality are utilized to
determine the present value of liabilities arising from the defined benefit plan. During the financial
reporting period, the discount rate and the inflation rate are both 1.75% .The mortality is determined by
assuming the life expectancy since retirement of male employees aged 65 and female employees aged 60.
In this reporting period, the expectancy is respectively 23.1 years for male and 27.7 for female. The
expected increase rate of salaries of headquarters employees in GDL is 3%. The expected increase rate of
salaries of hotel employees is 2.5%. After retirement, the employees’ social welfare will be unaffected
(ages ranging from 60 to 65; the retiring age depends on occupation and date of birth). General staff,
clerical staff and directors are assumed to start their careers since the age of 20, 22 and 23.
The following sensitivity analysis is based on reasonable changes incurs at end of the reporting period (all
of other assumption remain unchanged):
If the discount rate increases (decreases) by 0.50%, the present value of defined benefit plan will
be decreased by RMB 4,210,700.22(increased by RMB3, 791,728.10).
If the inflation rate increases (decreases) by 0.50%, the present value of defined benefits plan will
be increased by RMB 10,759,678.00 (decreased by RMB12, 081,157.67).
If the expected growth rate of salary increases (decreases) by 0.50%, the present value of defined
benefit plan obligation will be increased by RMB 3,724,223.56(decreased by RMB 4,101,288.48).
As some assumption may be correlative, and one assumption cannot be changed in isolation, so the above
sensitivity analysis may not reflect the actual movement in present value of defined benefits plan.
The calculation method for defined benefits plan liabilities in the above sensitivity analysis is identical
with that in balance sheet.
The method and assumption for sensitivity analysis remain unchanged comparing with prior year.
- 101 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
31. Provisions
RMB
Item 30 June 2016 31 December 2015
Pending litigation (Note) 8,544,734.07 45,798,967.52
Provision for compensation 13,302,536.41 12,542,327.18
Total 21,847,270.48 58,341,294.70
Note: In this reporting period, the litigation between GDL's subsidiary and Poland Handlowy Bank had
been sentenced, and GDL's subsidiary had paid compensation accordingly, and reversed provision of
PLN20, 855,500 of prior year, equivalent to RMB 34,693,930. Details refer to Note V 44.
32. Other non-current liabilities
RMB
Item 30 June 2016 31 December 2015
Marketing fund(note 1) 73,955,876.08 57,877,875.40
Membership credit 36,525,919.62 -
Government grant 23,293,604.19 25,251,604.19
Loss of long-term lease(note 2) 16,200,702.97 -
Others 1,059,253.48 1,043,361.43
Less: non-current liabilities due within one year 4,816,000.00 4,816,000.00
non-current liabilities due after one year 146,219,356.34 79,356,841.02
Note 1: Marketing fund is the branding services fees charged from franchise hotels by GDL, which is
used for branding promotion activities in the future.
Note 2: Loss of long-term lease is the present value of the amount of future cash outflow under
non-cancellable agreement entered into by 7 Days Group for Keystone's private acquisition of 7
Days Group Holdings Limited("7 Days Group") less the fair value at acquisition date. The loss
of long-term lease is amortized over the remaining period of lease contract.
Project involving in government grants:
RMB
Amount recognized
Item in non-operating Related to
31 December 2015 Additions income 30 June 2016 asset/income
Information platform funds 11,700,000.00 - 1,950,000.00 9,750,000.00 related to asset
Metropole Hotel project funds 5,500,000.00 - - 5,500,000.00 related to asset
Smartel project funds 5,000,000.00 - - 5,000,000.00 related to asset
Jinjiang Metropole brand
promotion funds 2,920,937.52 - - 2,920,937.52 related to income
Other 130,666.67 - 8,000.00 122,666.67 related to asset
Total 25,251,604.19 - 1,958,000.00 23,293,604.19
- 102 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
33. Share capital
RMB
Change for the period
31 December Capitalization 30 June
2015 Non-public issue Bonus 2016
of surplus Others Subtotal
of new shares issue
reserve
I. Restricted tradable shares
1 State-owned shares 101,277,000.00 - - - - - 101,277,000.00
2. State-owned legal person shares - - - - - - -
3. Other domestic shares - - - - - - -
4. Other foreign shares 100,000,000.00 - - - - - 100,000,000.00
Total restricted tradable shares 201,277,000.00 - - - - - 201,277,000.00
II. Tradable shares
1. Ordinary shares denominated in RMB 447,240,740.00 - - - - - 447,240,740.00
2. Foreign capital shares listed domestically 156,000,000.00 - - - - - 156,000,000.00
3. Foreign capital shares listed overseas - - - - - - -
4. Others - - - - - - -
Total tradable shares 603,240,740.00 - - - - - 603,240,740.00
III. Total shares 804,517,740.00 - - - - - 804,517,740.00
RMB
Change for the prior period
31 December Non-public issue Bonus Capitalization of
Others Subtotal
2014 of new shares issue surplus reserve 30 June 2015
I. Restricted tradable shares
1 State-owned shares 101,277,000.00 - - - - - 101,277,000.00
2. State-owned legal person shares - - - - - - -
3. Other domestic shares - - - - - - -
4. Other foreign shares 100,000,000.00 - - - - - 100,000,000.00
Total restricted tradable shares 201,277,000.00 - - - - - 201,277,000.00
II. Tradable shares
1. Ordinary shares denominated in RMB 447,240,740.00 - - - - - 447,240,740.00
2. Foreign capital shares listed
domestically 156,000,000.00 - - - - - 156,000,000.00
3. Foreign capital shares listed overseas - - - - - - -
4. Others - - - - - - -
Total tradable shares 603,240,740.00 - - - - - 603,240,740.00
III. Total shares 804,517,740.00 - - - - - 804,517,740.00
34. Capital reserve
RMB
Item 31 December 2015 Addition Deduction 30 June 2016
Share premium 4,318,594,736.95 - - 4,318,594,736.95
Including: Capital injected by investors 3,432,896,828.00 - - 3,432,896,828.00
Differences derived from business
combination involving enterprises under
common control 1,027,136,210.91 - - 1,027,136,210.91
Premium derived from the acquisition of
minority interest (141,438,301.96) - - (141,438,301.96)
Other capital reserve-Transfer from capital reserve
under the previous accounting system 163,502,812.00 - - 163,502,812.00
Total 4,482,097,548.95 - - 4,482,097,548.95
RMB
Item 31 December 2014 Addition Deduction 30 June 2015
Share premium 4,318,594,736.95 - - 4,318,594,736.95
Including: Capital injected by investors 3,432,896,828.00 - - 3,432,896,828.00
Differences derived from business
combination involving enterprises under
common control 1,027,136,210.91 - - 1,027,136,210.91
Premium derived from the acquisition of
minority interest (141,438,301.96) - - (141,438,301.96)
Other capital reserve-Transfer from capital reserve
under the previous accounting system 163,502,812.00 - - 163,502,812.00
Total 4,482,097,548.95 - - 4,482,097,548.95
- 103 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
35. Other comprehensive income
RMB
Amount incurred in the period
Deduction: previously
Amount Amount
recognized as other
Attributable to Attributable to
Item Amount before comprehensive income Deduction:
shareholders of shareholders of
income tax and transferred to gain income tax
the parent the after the minority
and loss in the current
tax after tax
31 December 2015 period 30 June 2016
I Other comprehensive income that will not be
reclassified subsequently to profit or loss
Including: changes as a result of premeasurement
of the net defined benefit plan liability or asset 587,012.14 (6,824,578.00) - (2,349,702.21) (4,474,875.79) - (3,887,863.65)
II Other comprehensive income (loss) that will be
reclassified subsequently to profit or loss
Including: Changes in fair value of
available-for-sale financial assets 890,408,124.80 (146,933,456.25) 162,244,213.06 (84,210,023.16) (230,222,566.06) 5,254,919.91 660,185,558.74
Shares of investee in other comprehensive
income that will be reclassified subsequently to
profit or loss under equity method 2,830,442.91 - - - - - 2,830,442.91
Effective proportion of profit or loss of cash flow
hedging 817,758.02 (1,110,917.70) - (382,488.96) (728,428.74) - 89,329.28
Translation reserve 13,828,808.29 (4,020,037.49) - - (9,692,298.99) 5,672,261.50 4,136,509.30
Total 908,472,146.16 (158,888,989.44) 162,244,213.06 (86,942,214.33) (245,118,169.58) 10,927,181.41 663,353,976.58
RMB
Amount incurred in the prior period
Deduction: previously
Amount Amount
recognized as other
Attributable to Attributable to
Item Amount before comprehensive income Deduction: income
shareholders of shareholders of
income tax and transferred to gain tax
the parent the the minority
and loss in the prior
after tax after tax
31 December 2014 period 30 June 2015
I Other comprehensive income that will not be
reclassified subsequently to profit or loss
Including: changes as a result of premeasurement
- (1,304,163.47) - (449,023.49) (855,139.98) - (855,139.98)
of the net defined benefit plan liability or asset
II Other comprehensive income (loss) that will be
reclassified subsequently to profit or loss
Including: Changes in fair value of
1,637,319,869.25 (347,853,841.86) 146,932,726.39 (123,696,642.07) - 1,266,229,943.07
available-for-sale financial assets (371,089,926.18)
Shares of investee in other comprehensive
income that will be reclassified subsequently to 1,954,031.01 - - - - - 1,954,031.01
profit or loss under equity method
Effective proportion of profit or loss of cash flow
- 1,909,078.68 - 531,734.68 1,377,344.00 - 1,377,344.00
hedging
Translation reserve - 5,035,806.43 - - 6,562,487.67 (1,526,681.24) 6,562,487.67
Total 1,639,273,900.26 (342,213,120.22) 146,932,726.39 (123,613,930.88) (364,005,234.49) (1,526,681.24) 1,275,268,665.77
36. Surplus reserve
RMB
Item 31 December 2015 Addition Deduction 30 June 2016
Statutory surplus reserve` 398,582,375.60 - - 398,582,375.60
Discretionary surplus reserve 180,681,288.50 - - 180,681,288.50
Total 579,263,664.10 - - 579,263,664.10
RMB
Item 31 December 2014 Addition Deduction 30 June 2015
Statutory surplus reserve` 348,534,452.92 - - 348,534,452.92
Discretionary surplus reserve 180,681,288.50 - - 180,681,288.50
Total 529,215,741.42 - - 529,215,741.42
Pursuant to the PRC Company Law and Article of association, the Company appropriates 10% of net profit
for the year as statutory surplus reserve. When the balance of such reserve reaches 50% of the Company’s
registered share capital, any further appropriation is optional. The statutory surplus reserve can be utilized
to offset prior years’ losses or capitalized into share capital upon approval. The discretionary surplus
reserve fund can be utilized to offset prior years’ losses or capitalized into share capital upon approval.
- 104 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
37. Retained profits
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Total amount of retained profits at beginning of period 1,509,447,901.74 1,243,693,387.43
Add: Net profit for attributable to shareholders of the
299,157,333.01 291,508,994.19
parent for the period
Less: Appropriation to statutory surplus reserve - -
Appropriation to discretionary surplus reserve - -
Dividends payable 386,168,515.20 321,807,096.00
Ordinary shares’ dividends converted into
- -
share capital
Retained profits at end of period 1,422,436,719.55 1,213,395,285.62
38. Operating income and operating costs
(1) Operating income and operating costs
RMB
Period from 1 January Period from 1 January
Item to 30 June 2016 to 30 June 2015
Income Cost Income Cost
Principal business 4,368,066,454.15 434,086,030.02 2,489,197,865.96 225,004,836.43
Other business 114,631.11 10,296.02 131,180.00 -
Total 4,368,181,085.26 434,096,326.04 2,489,329,045.96 225,004,836.43
(2) Principal business by segment:
RMB
Period from 1 January Period from 1 January
Segment to 30 June 2016 to 30 June 2015
Income Cost Income Cost
Limited service hotels operation and management 4,247,058,545.83 374,071,062.44 2,364,399,353.37 165,582,326.43
Food and catering 121,007,908.32 60,014,967.58 124,798,512.59 59,422,510.00
Total 4,368,066,454.15 434,086,030.02 2,489,197,865.96 225,004,836.43
(3) Operating income by area
RMB
Period from 1 January Period from 1 January
Item to 30 June 2016 to 30 June 2015
Domestic regions of Mainland China 2,650,509,160.94 1,422,405,447.71
Including: Shanghai 712,170,913.85 622,841,462.14
Regions other than Shanghai 1,938,338,247.09 799,563,985.57
Overseas regions 1,717,671,924.32 1,066,923,598.25
Total 4,368,181,085.26 2,489,329,045.96
- 105 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
38. Operating income and operating costs - continued
(4) Operating income and costs of limited service hotels operation and management at home and aboard
RMB
Period from 1 January Period from 1 January
Segment to 30 June 2016 to 30 June 2015
operating income operating costs operating income operating costs
Rooms 2,638,293,742.78 - 1,518,616,776.65 -
Caterings 448,449,608.48 194,520,473.85 325,238,565.75 132,738,079.55
Commodity sales 172,500,888.34 142,939,581.10 19,067,931.47 14,834,023.67
Management:
Initial fee 72,142,416.70 - 22,267,759.37 -
Management fee 628,717,518.46 - 331,227,481.62 -
Reservation channel fee (Note) 25,572,114.14 - 26,150,884.00 -
Others 64,882,544.51 - 28,595,065.51 -
Subtotal of Management 791,314,593.81 - 408,241,190.50 -
Others:
Membership cards 91,170,234.42 - 41,034,063.51 -
Lease of properties 23,816,938.93 12,163,090.20 23,459,606.64 11,628,456.07
Others 81,512,539.07 24,447,917.29 28,741,218.85 6,381,767.14
Subtotal of Others 196,499,712.42 36,611,007.49 93,234,889.00 18,010,223.21
Total 4,247,058,545.83 374,071,062.44 2,364,399,353.37 165,582,326.43
Note: Reservation channel fee is based on the effective number of rooms sold and definite standard
which are from the room reservation sent by central reservation system.
(5) Operating income and costs of catering business
RMB
Period from 1 January Period from 1 January
Item to 30 June 2016 to 30 June 2015
operating income operating costs operating income operating costs
Chain restaurants 48,195,696.92 21,757,019.47 66,560,065.42 31,226,661.47
Groups meal 66,421,607.93 31,555,419.95 54,692,668.87 24,831,349.85
Food sales 4,720,256.13 5,554,690.25 1,606,158.11 2,474,710.60
Others 1,670,347.34 1,147,837.91 1,939,620.19 889,788.08
Total 121,007,908.32 60,014,967.58 124,798,512.59 59,422,510.00
(6) Details of the revenue from top 5 customers of the Group are as below:
RMB
Name of customer Operating income Ratio (%)
Brake France Services 18,898,603.36 0.43
Orient Securities Co., Ltd. 8,174,995.11 0.19
Shanghai Securities Commercial Services Co., Ltd. 8,070,490.10 0.18
Shanghai Stock Exchange 7,614,360.20 0.17
CHINA FOREIGN EXCHANGE TRADE SYSTEM 6,438,853.59 0.15
Total 49,197,302.36 1.12
- 106 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
39. Costs and expenses by nature
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Cost of goods sold 423,833,321.53 212,057,012.12
Employee benefits 1,286,180,237.37 724,434,452.97
Including: Wages or salaries 992,440,126.57 533,103,842.56
Social insurance and housing fund 238,077,685.79 158,574,715.38
Welfare and Other expenditures 55,662,425.01 32,755,895.03
Energy fees and materials consumption 343,144,858.55 175,442,817.60
Depreciation and amortization 571,858,490.25 310,125,819.26
Rental of operating lease 634,463,876.21 280,300,117.99
Repair and maintenance fee 188,106,755.62 103,682,728.43
Property tax and other levies 63,961,399.71 28,441,391.17
Energy, material consumption and Others 502,017,732.16 348,015,320.90
Total 4,013,566,671.40 2,182,499,660.44
40. Business taxes and levies
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Business tax 68,549,177.40 64,736,874.02
Urban maintenance and construction tax 8,619,423.99 4,781,399.38
Levy for Education 5,235,435.41 3,497,400.71
Others 993,319.83 300.00
Total 83,397,356.63 73,015,974.11
41. Financial expenses
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Interest expenses 329,075,288.26 163,947,820.11
Less: Interest expenses capitalized - -
Less: Interest income 115,813,629.52 98,123,311.07
Foreign exchange difference (6,915,815.01) (451,281.40)
Less: Capitalized Foreign exchange difference - -
Others 23,172,230.74 11,818,827.12
Total 229,518,074.47 77,192,054.76
- 107 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
42. Impairment loss of assets
RMB
Period from 1 January Period from 1 January
Item to 30 June 2016 to 30 June 2015
I. Impairment loss of bad debt 8,157,885.30 157,515.90
II. Provision (Reversal) of decline in value of inventories (43,431.60) (41,119.00)
III. Impairment loss of available-for-sale financial assets - -
IV. Impairment loss of long-term equity investments - -
V. Impairment loss of investment property - -
VI. Impairment loss of fixed assets - -
VII. Impairment loss of construction in progress - -
VIII. Impairment loss of intangible assets - -
IX. Impairment loss of goodwill - -
X Impairment losses for long-term deferred expenses 6,395,527.02 -
Total 14,509,980.72 116,396.90
43. Investment income
(1) Details of investment income are as follows:
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Investment income from long-term equity
investments under equity method of accounting 50,550,196.85 18,393,650.93
Investment income from available-for-sale
financial assets 73,025,197.50 50,668,411.52
Gain on disposal of available-for-sale
financial assets 206,373,718.01 160,635,323.08
Other 3,055,180.11 257,582.56
Total 333,004,292.47 229,954,968.09
(2) Investment income from long-term equity investment under equity method
RMB
Period from 1 Period from 1
Investee January January
to 30 June 2016 to 30 June 2015 Reasons for the changes
Shanghai Kentucky Fried Chicken Co., Ltd. 45,812,247.38 13,927,868.57 profit increased
The profit for the current period is at par
Shanghai New Asia Fulihua Catering Co., Ltd. 2,879,467.78 2,679,541.46 with prior period
The profit for the current period is at par
Shanghai Xinlu Catering Development Co., Ltd. 129,449.49 130,411.80 with prior period
Shanghai Yoshinoya Co., Ltd. (294,939.10) (2,214,810.60) Loss decreases due to profit increases
Shanghai Jing An Bakery Co., Ltd. (739,096.38) (446,946.30) Loss increases due to the raise in costs
Commence profit-making as revenue
Shanghai Xinjin Hotel Management Co., Ltd. 47,805.85 (1,551,472.60) increase
Holy Shambala (493,444.64) - Increase from merge in the period
Guangzhou Minyan Information (76,537.75) - Increase from merge in the period
Guangzhou Egghell Network (120,074.69) - Increase from merge in the period
Guangzhou Leji (84,529.13) - Increase from merge in the period
Shenzhen Fifth Space Apartment (188,731.55) - Increase from merge in the period
Guangzhou Fulunzi Information (94,659.50) - Increase from merge in the period
Guangzhou Chuangbianzhe 11,684.08 - Increase from merge in the period
Guangzhou Wormhole Network (348,384.41) - Increase from merge in the period
Guangzhou Qinyou Commercials 19,261.35 - Increase from merge in the period
Guangzhou Xiaopang Information (17,104.49) - Increase from merge in the period
GDL's associate 4,107,782.56 5,869,058.60 Profit decreases due to the raise in costs
Total 50,550,196.85 18,393,650.93
- 108 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
43. Investment income - continued
(3) Investment income from available-for-sale financial assets
RMB
Period from 1 Period from 1
Investee January January Reasons for movements
to 30 June 2016 to 30 June 2015
Hangzhou Kentucky Fried Chicken Co., Ltd. 29,157,567.86 19,014,053.96 Dividend declared increased
Chang Jiang Security Co., Ltd. 26,600,000.00 17,850,000.00 Dividend declared increased
Suzhou Kentucky Fried Chicken Co., Ltd. 10,780,761.00 8,699,126.93 Dividend declared increased
Wuxi Kentucky Fried Chicken Co., Ltd. 4,691,549.98 2,733,569.98 Dividend declared increased
No dividends declared at the end of prior
Shenwan Hongyuan Securities Co., Ltd. 1,663,284.90 -
period
GDL's available-for-sale
- 1,949,629.67 No dividends yet to be declared
financial assets
Others 132,033.76 422,030.98
Total 73,025,197.50 50,668,411.52
(4) Investment income from disposal of available-for-sale financial assets
RMB
Period from 1 January Period from 1 January
Name of available-for-sale financial assets to 30 June 2016 to 30 June 2015
Changjiang Securities (Share code：000783)(Note) 206,426,728.39 160,287,582.12
Others (53,010.38) 347,740.96
Total 206,373,718.01 160,635,323.08
Note: In the reporting period, the Company disposed 22,500,000 shares of Changjiang Securities.
44. Non-operating income
(1) Details of non-operating income are as follows:
RMB
Amount recognized
Period from 1 Period from 1
in non-recurring
Item January January
profit or loss of the
to 30 June 2016 to 30 June 2015
period
Total of gain from disposal of non-current assets( note 1) 10,884,656.02 442,917.09 10,884,656.02
Government grant 31,026,515.03 22,624,728.76 31,026,515.03
Compensation that unnecessarily to be paid(note 2) 21,760,917.30 - 21,760,917.30
Payables that cannot be paid 3,154,911.13 - 3,154,911.13
Income from claims 1,302,366.89 193,622.06 1,302,366.89
Others 5,370,845.99 3,701,111.36 5,370,845.99
Total 73,500,212.36 26,962,379.27 73,500,212.36
Note 1: S.N.C Invest Hotels Saint-Dizier Rennes, a subsidiary of GDL, was closed in January 2016 due
to multiple demolition. Pursuant to ruling of local court in December 2015, a demolition
compensation of EUR 2,172,000.00 (equivalent to RMB 14,499,250.00) will be obtained by
GDL in November 2016. The non-operating income, after deducting relevant costs, is
recognized at EUR446,000.00 (equivalent to RMB 3,238,361.40).
- 109 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
44. Non-operating income - continued
(1) Details of non-operating income are as follows: - continued
Note 2: It refers to Poland Handlowy Bank's prosecution on debts collateral against the subsidiary of
GDL at Poland Szczecin local court in 2007. As ruled by Szczecin court, GDL's subsidiary is
obliged to compensate PLN 20,855,500 to Poland Handlowy Bank, and accordingly, GDL's
subsidiary made provisions, and made presentations to the superior court on 23 November 2012.
On 22 January 2014, the superior court ruled that the presentation was valid, and asked Szczecin
local court to rehear. During the reporting period, Poland Handlowy Bank gave way, and the
amount of the actual compensations made by the subsidiary of GDL less provisions is accounted
for as non-operating income, which is equivalent to RMB21,760,917.30.
(2) Government grants recognized in profit or loss are as follows:
RMB
Amount recognized in
Item Period from 1 January Period from 1 January non-recurring profit or loss
to 30 June 2016 to 30 June 2015 of the period
Industry support funds 27,615,490.64 14,245,000.00 Related to income
Information platform funds 1,950,000.00 1,950,000.00 Related to assets
Amortization of Boiler Subsidy 8,000.00 8,000.00 Related to assets
Demolition compensation - 5,414,168.63 Related to income
Other government grants 1,453,024.39 1,007,560.13 Related to income
Total 31,026,515.03 22,624,728.76
45. Non-operating expenses
RMB
Amount recognized in
Item Period from 1 January Period from 1 January non-recurring profit or loss
to 30 June 2016 to 30 June 2015 of the period
Losses on disposal of non-current assets 3,907,744.46 1,578,932.46 3,907,744.46
Penalty expenses 464,482.13 153,545.88 464,482.13
Litigation expenses 3,257,425.78 - 3,257,425.78
Others 5,826,652.11 599,819.02 5,826,652.11
Total 13,456,304.48 2,332,297.36 13,456,304.48
46. Income tax expenses
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Current income tax calculated according to tax laws and
relevant regulations 136,923,556.27 82,338,571.83
Additional tax paid in respect of the prior year (465,937.78) (18,786.30)
Deferred income tax expenses (29,897,665.77) 29,474,675.06
CVAE 10,285,122.94 4,225,583.12
Total 116,845,075.66 116,020,043.71
- 110 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
46. Income tax expenses - continued
Reconciliation of income tax expenses to the accounting profit is as follows:
RMB
Period from 1 January Period from 1 January
to 30 June 2016 to 30 June 2015
Total profit 420,237,202.39 411,090,009.75
CVAE deduction(note) (10,285,122.94) (4,225,583.12)
Income tax expenses calculated at tax rate of 25% 102,488,019.86 101,716,106.66
Effects of non-taxable income (31,888,009.02) (15,976,282.77)
Effects of costs, expenses or losses that are not deductible 2,651,766.92 701,526.33
Effect of using previously unrecognized deductible losses and
(87,875.60) (100.76)
deductible temporary differences for tax purposes
Effect of deductible temporary differences or deductible
35,047,147.23 20,956,160.15
losses arising from unrecognized deferred tax assets
Effects of subsidiaries using different tax rates 4,090,956.47 4,415,837.28
Effects of adjusting of prior period and others (5,742,053.14) (18,786.30)
CVAE 10,285,122.94 4,225,583.12
Income tax expenses 116,845,075.66 116,020,043.71
Note: In accordance with tax laws of France, CVAE can be deducted before income tax.
47. Notes to items in the cash flow statements
(1) Other cash receipts relating to operating activities:
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Government grants and levy compensation 31,026,515.03 19,999,374.52
Interest income 26,843,594.03 20,791,968.64
Others 38,374,659.01 16,490,818.13
Total 96,244,768.07 57,282,161.29
(2) Other cash payments relating to operating activities
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Rental expenses 598,325,815.67 252,514,963.75
Other payments in administrative expenses and
selling expenses 436,057,012.92 221,572,157.46
Payment of bank charges 22,098,284.83 11,471,049.22
Others 57,779,111.53 50,186,719.70
Total 1,114,260,224.95 535,744,890.13
(3) Net cash receipts from disposal of subsidiaries and business units
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Cash receipts from recovery of disposal of some of
GDL's business and subsidiaries - 527,063,409.16
- 111 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
47. Notes to items in the cash flow statements - continued
(4) Net cash payment to acquisition and other business units
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Net cash payment to acquisition of Keystone (Note VI(1)) 6,801,509,255.94 -
Net cash payment to acquisition of Nordic (Note VI(1)) 138,888,388.73 -
Net cash payment to acquisition of GDL - 2,956,867,734.47
Total 6,940,397,644.67 2,956,867,734.47
(5) Other cash payment relating to investing activities
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Payment for equity acquisition (Note (XII)1) 680,000,000.00 -
Payment for equity acquisition that to be recovered(Note
(VI)1) 473,750,000.00 -
Payment for agency acquisition 35,696,851.30 72,852,304.77
Total 1,189,446,851.30 72,852,304.77
(6) Cash receipts from borrowings
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Borrowing from related parties 6,000,000,000.00 4,100,000,000.00
Borrowing from bank 10,920,000,000.00 20,711,718,832.86
Total 16,920,000,000.00 24,811,718,832.86
(7) Other cash receipts relating to financing activities
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Recovery of deposit for loan 45,816,400.00 -
Interest income of pledged time deposit 19,364,837.12 37,917,044.02
Total 65,181,237.12 37,917,044.02
(8) Cash repayment of borrowings
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Repayments of borrowings to bank 612,341,287.62 9,678,205,125.00
Repayments of borrowings to related parties 6,000,000,000.00 2,100,000,000.00
Repayments for GDL - 6,282,055,907.85
Total 6,612,341,287.62 18,060,261,032.85
- 112 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
47. Notes to items in the cash flow statements - continued
(9) Other cash payment relating to financing activities
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
Pledged deposit for loan - 4,723,560,000.00
Repayments of finance lease 5,495,020.98 69,625,479.81
Total 5,495,020.98 4,793,185,479.81
48. Supplementary information of cash flows
(1) Supplementary information of cash flows
RMB
Period from 1 January Period from 1 January
Item
to 30 June 2016 to 30 June 2015
1.Reconciliation of net profit to cash flow from
operating activities:
Net profit 303,392,126.73 295,069,966.04
Add: Provision for asset impairment 14,509,980.72 116,396.90
Depreciation of fixed assets 290,898,809.99 200,000,497.42
Amortization of intangible assets 61,993,409.56 18,596,164.92
Amortization of long-term deferred expenses 218,966,270.70 91,529,156.92
Loss (Gain) on disposal of fixed assets, intangible
(6,976,911.56) 1,136,015.37
assets and other long-term assets
Financial expenses 238,633,455.01 104,548,534.61
Investment loss (income) (333,004,292.47) (229,954,968.09)
Decrease in deferred tax assets 8,413,675.59 117,409,147.09
Increase (decrease) in deferred tax liabilities (38,311,341.36) (31,277,083.68)
Decrease in Inventory 9,969,781.87 826,665.29
Decrease (increase) in operating receivables (116,216,413.54) (144,299,851.45)
Increase (decrease) in operating payables 110,293,293.15 (51,616,945.29)
Net cash flow from operating activities 762,561,844.39 372,083,696.05
2.Significant investing and financing activities that
do not involve cash receipts and payments
Capital transferred from debts - -
Convertible corporate bonds due within 6 months - -
Fixed assets under finance lease - -
3.Net changes in cash and cash equivalents:
Cash at end of period 6,042,467,381.85 3,469,253,448.23
Less: Cash at beginning of period 3,797,129,642.55 3,551,614,901.31
Add: Cash equivalents at end of period - -
Less: Cash equivalents at beginning of period - -
Net increase in cash and cash equivalents 2,245,337,739.30 (82,361,453.08)
- 113 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
48. Supplementary information of cash flows - continued
(2) Net cash payment to acquire subsidiaries during the reporting period
RMB
Amount
Cash and cash equivalents payment to this year’s business combination
-Keystone 8,081,170,000.00
-Nordic 145,451,600.00
Less: cash and cash equivalents of subsidiaries on the acquisition date
-Keystone 1,279,660,744.06
-Nordic 6,563,211.27
Net cash payment to acquire subsidiaries 6,940,397,644.67
(3) Cash and cash equivalents
RMB
Item 30 June 2016 31 December 2015
I. Cash 6,042,467,381.85 3,797,129,642.55
Including: Cash on hand 8,583,934.71 7,037,250.23
Bank deposits that can be readily withdrawn on 6,033,883,447.14 3,790,092,392.32
Other currency fund that can be readily withdrawn on - -
II. Cash equivalents - -
III. Closing balance of cash and cash equivalents 6,042,467,381.85 3,797,129,642.55
49. Assets with restricted ownership or right of use
RMB
Closing balance of
Item Reason of restriction
book value
Cash and bank balances ( Note (V)26(4)) 4,687,687.94 Frozen for litigation
Cash and bank balances ( Note (V)28(Note 1)) 1,417,068,000.00 Pledged
Other non-current assets( Note (V)28(Note 1)) 3,306,492,000.00 Pledged
Net assets in Sailing Investment ( Note (V)28(Note 1)) 581,667,479.33 Mortgaged
Net assets of Keystone ( Note (V)28(Note 1)) 2,527,580,789.20 Mortgaged
Net assets of Keystone ( Note (V)19(Note 3)) 592,758,343.72 Mortgaged
Fixed assets (Note(V)11(4)) 156,463,086.75 Mortgaged
Fixed assets (Note (V)11(3)) 166,212,362.96 Without certificate of title
Total 8,752,929,749.90
- 114 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
V NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
50. Cash flow hedging
Interest rate swaps are used by the Group in order to reduce cash flow risk exposure of finance lease rental
which carries at floating interest rate, namely, swapping the floating interest rate of some finance lease into
fixed rate. During the period from 1 January to 30 June 2016, the Group defined its purchased interest
swaps in which the terms and conditions are identical with those in finance lease agreements as hedging
instrument. The Group deems that these swaps are highly effective and uses ratio analysis to evaluate the
effectiveness of the hedging tools.
The conditions and terms in interest rate swaps entered into by the Group are in conformity with those of
expected transactions, details are as follows:
RMB'000
period from 1 January to Nominal
30 June 2016 amount Maturity date Conditions and terms of interest rate swaps
Swapping Euribor3M+2.56% to fixed interest
Interest rate swaps 121,997.25 28/06/2025 rate of 1.40%
51. Calculation of basic earnings per share and diluted earnings per share
When calculating basic earnings per share, the net profit attributable to ordinary shareholder is as follows:
RMB
Amount incurred in Amount incurred in
the current period the prior period
Net profit attributable to ordinary shareholder 299,157,333.01 291,508,994.19
Including: Net profit attributable to continuous operation 299,157,333.01 291,508,994.19
When calculating basic earnings per share, the denominator is the weighted average of issued ordinary
shares, details are as follows:
RMB
Amount incurred in Amount incurred in the
the current period prior period
Number of ordinary shares issued at beginning of the period 804,517,740.00 804,517,740.00
Add: weighted ordinary shares issued for the period - -
Number of ordinary shares issued at end of the period 804,517,740.00 804,517,740.00
Earnings per share
RMB
Amount incurred in the Amount incurred in the
current period prior period
Calculation based on net profit attributable to the Company
Basic earnings per share 0.3718 0.3623
Diluted earnings per share (note ) N/A N/A
Calculated based on net profit of continuous operation
which attributable to the Company
Basic earnings per share 0.3718 0.3623
Diluted earnings per share(note) N/A N/A
Note: The Group holds no diluted ordinary shares.
- 115 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VI. Changes in consolidation scope
1. Business combination not involving enterprises under common control
(1) Business combination not involving enterprises under common control for the period
Keystone
On 18 September 2015, the Group entered into an "Equity Acquisition Agreement" with former
shareholder of Keystone, agreeing to acquire 81.0034% equity interests in Keystone at consideration of
RMB 8.55492 billion. On 26 February 2016, the Group paid consideration of USD 1.3089089 billion,
which is equivalent to RMB 8.55492 billion.
According to the equity transfer agreement, after the acquisition date, the outstanding consideration due
from the Company will be adjusted subject to the Agreement and final consideration negotiated by both
parties, and the Company will pay or recover the payment according to the final consideration.
As at end of the reporting period, the negotiation and determination of final consideration were still in
progress. The management of Company believes that the amount disclosed in the financial statements is
the best estimates of the management. According to such best estimate, the consideration for business
combination is equivalent to RMB 8.08117 billion, and the outstanding recovery amount is USD 72.4841
million (equivalent to RMB 480.6565 million at the exchange rate prevailing at end of the period).
Nordic
GDL entered into an equity transfer agreement with Nordic's former shareholders in December 2015,
agreeing to acquire 100% equity interests in Nordic at consideration of EUR 20,500,000.00 (equivalent to
RMB 145,451,600.00). The above equity delivery was completed on 5 January 2016.
According to the equity transfer agreement, after the acquisition date, the outstanding consideration due
from GDL will be adjusted subject to the Agreement and final consideration negotiated by both parties.
As at end of the reporting period, the negotiation and determination of final consideration were still
in progress. The management of GDL believes that the amount disclosed in the financial statements
is the best estimates of the management.
RMB
Net profit of
Income of
Percentage Acquiree from
Equity Acquiree from
Timing for Costs for of acquired Date of Basis for date of
Acquiree acquisition date of acquisition
receiving equity receiving equity acquisition determine the date
to the end of
acquisition to
equity（%） method of acquisition the end of
period
period
The date
26 February Cash 26 February
Keystone 8,081,170,000.00 81.0034 received control 1,202,678,320.17 41,428,780.28
2016 payment 2016
right on acquiree
The date
Cash 5 January
Nordic 5 January 2016 145,451,600.00 100 received control 115,737,179.53 11,486,743.80
payment 2016
right on acquiree
- 116 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VI. Changes in consolidation scope - continued
1. Business combination involving enterprises not under common control - continued
(2) Cost of business combination and Goodwill
RMB
Keystone Nordic
Cost of business combination 8,081,170,000.00 145,451,600.00
Less: share of fair value of identified assets received
2,436,946,611.31 11,685,794.40
from acquiree
Goodwill 5,644,223,388.69 133,765,805.60
(3) Identifiable assets and liabilities of acquiree on the date of acquisition
RMB
Keystone( note 1) Nordic ( note 2)
Fair value on Book value on Fair value on Book value on
acquisition date acquisition date acquisition date acquisition date
Assets:
Cash and bank balances 1,279,660,744.06 1,279,660,744.06 6,563,211.27 6,563,211.27
Other current assets except for cash and bank balances 412,442,427.15 412,442,427.15 34,518,229.11 34,518,229.11
Available-for-sale financial assets 400,602,722.55 400,602,722.55 - -
Fixed assets 232,545,651.15 232,545,651.15 10,331,266.01 10,331,266.01
Construction in progress 45,389,472.19 42,560,950.19 - -
Intangible Assets 4,071,773,646.21 2,363,098,632.21 709,186.53 709,186.53
Long-term prepaid expenses 1,110,984,956.80 1,110,984,956.80 - -
Other non-current assets except for available-for-sale
financial assets, fixed assets, construction in progress, 348,675,330.82 348,675,330.82 - -
intangible assets, and long-term prepaid expenses
Subtotal of assets 7,902,074,950.93 6,190,571,414.93 52,121,892.92 52,121,892.92
Liabilities
Current liabilities 3,109,384,722.76 3,109,384,722.76 40,162,450.61 40,162,450.61
Non-Current liabilities 1,343,810,834.90 915,934,950.90 273,647.91 273,647.91
Subtotal of liabilities 4,453,195,557.66 4,025,319,673.66 40,436,098.52 40,436,098.52
Net assets 3,448,879,393.27 2,165,251,741.27 11,685,794.40 11,685,794.40
Less: Minority interests 1,011,932,781.96 589,172,126.72 - -
Net assets acquired 2,436,946,611.31 1,576,079,614.55 11,685,794.40 11,685,794.40
Note 1: As it is unavailable to determine the fair value of identifiable assets of Keystone in active market,
the Group invited independent appraiser Shanghai Orient Appraisal Co., Ltd. to assess the fair
value of identifiable assets of Keystone by using equity method and asset-based method. As at
the balance sheet date, the appraisal was still in progress. The Group recognized the fair value of
identifiable assets of Keystone on acquisition date as per the interim appraisal results, and will
make adjustment on it according to the final appraisal results.
Note: As it is unavailable to determine the fair value of identifiable assets of Nordic in active market,
the Group invited independent appraiser to assess the fair value of identifiable assets of Nordic.
As at the balance sheet date, the appraisal was still in progress. The management of the Group
believes that the fair value of the identifiable assets approximates to its book value, so the book
value of the identifiable assets is recognized as its fair value, which is subject to further
adjustment as per final appraisal results.
2. Changes in consolidation scope for other reasons
Newly established subsidiaries which are included in the consolidation scope for the period are as follows:
RMB
Net assets at end of Net assets (losses) at
the period end of the period
Tianjin Jintai Hotels Management Co., Ltd. 10,000,895.54 895.54
- 117 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VII. EQUITY IN OTHER ENTITIES
1. Interest in subsidiaries
(1) Major subsidiaries of the Group
Principal place Shares (%)
of business and
Registered Nature of
No. Name of subsidiaries address business Direct Indirect Methods of acquisition
Shanghai Jin Jiang International Catering Investment Co., Ltd.
1 PRC Service 100.00 - Subsidiaries set up or invested by the Group
(Catering Investment)
Subsidiaries acquired through a business
Shanghai Jin Jiang International Hotels Investment Co., Ltd.
2 PRC Service 100.00 - combination involving enterprises under
(Hotels Investment)
common control
Subsidiaries acquired through a business
3 Jin Jiang Inn Co., Ltd.( Jin Jiang Inn) PRC Service 100.00 - combination involving enterprises under
common control
Shanghai Jin Lu investment management Co., Ltd.(Jin Lu
4 PRC Service 100.00 - Subsidiaries set up or invested by the Group
investment)
Subsidiaries acquired through a business
5 Smartel PRC Service 100.00 - combination not involving enterprises under
common control
Shanghai Food and Beverage Serving Equipment Co.,
6 PRC Trading 100.00 - Subsidiaries set up or invested by the Group
Ltd.( Food and Beverage Serving Equipment)
Shanghai Jinjiang Metropolo Hotel Investment Management
7 PRC Service 100.00 - Subsidiaries set up or invested by the Group
Co., Ltd. (Metropole Hotel)
8 Shanghai Jinpan Hotel Co.,Ltd. ( Jinpan Hotel) PRC Service 100.00 - Subsidiaries set up or invested by the Group
Subsidiaries acquired through a business
9 Shanghai Jin Jiang Da Hua Hotel Co., Ltd.(Da Hua Hotel) PRC Service 100.00 - combination involving enterprises under
common control
10 Shanghai Minhang Hotel Co., Ltd.( Minhang Hotel) PRC Service 98.25 1.75 Subsidiaries set up or invested by the Group
Shanghai Jinjiang International Food & Catering Management
11 PRC Service 18.00 82.00 Subsidiaries set up or invested by the Group
Co.,Ltd. (Jinjiang Food) (Note 1)
12 Shanghai New Asia Food Co., Ltd. ( New Asia Food) (Note 1) PRC Service 5.00 95.00 Subsidiaries set up or invested by the Group
13 Shanghai New Asia Food Sales Co., Ltd. (Note 2) PRC Trading - 100.00 Subsidiaries set up or invested by the Group
Shanghai Jin Jiang Tung Lok Catering Management Inc ("Tung
14 PRC Service - 51.00 Subsidiaries set up or invested by the Group
Lok Catering ")(Note 1)
15 Shanghai Jinzhu Catering Management Co.,Ltd. (Note 1) PRC Service - 100.00 Subsidiaries set up or invested by the Group
Subsidiaries acquired through a business
Shanghai Jinya Catering Management Co., Ltd ("Jinya Catering
16 PRC Service - 100.00 combination not involving enterprises under
")(Note 1)
common control
17 Shanghai Qihong Hotels Management Co., Ltd. (Note 4) PRC Service - 100.00 Subsidiaries set up or invested by the Group
18 Shanghai Jinbei Investment Management Co., Ltd. (Note 4) PRC Service - 100.00 Subsidiaries set up or invested by the Group
19 Shanghai Jinzhen Investment Management Co., Ltd. (Note 4) PRC Service - 100.00 Subsidiaries set up or invested by the Group
Shenyang Jinfu Hotel Investment Management Co., Ltd. (Note
20 PRC Service - 55.00 Subsidiaries set up or invested by the Group
4)
21 Xian Jinhu Hotels Management Co., Ltd. (Note 4) PRC Service - 100.00 Subsidiaries set up or invested by the Group
Shanghai Jinzhang Hotel Investment Management Co.,Ltd.
22 PRC Service - 100.00 Subsidiaries set up or invested by the Group
(Note 4)
23 Jiaxing Jin Hu Hotel management Co., Ltd. (Note 4) PRC Service - 100.00 Subsidiaries set up or invested by the Group
Subsidiaries acquired through a business
24 Xi'an Jin Jiang Inn Co., Ltd.(Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
25 Zhengzhou Jin Jiang Inn Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
26 Tianjin Jin Jiang Inn Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
- 118 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group - continued
Principal place Shares (%)
of business and
Registered Nature of
No. Name of subsidiaries address business Direct Indirect Methods of acquisition
Subsidiaries acquired through a business
27 Tianjin He Dongqu Jin Jiang Inn Co., Ltd.( Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
28 Shenyang Songhuajiang Jin Jiang Inn Co., Ltd.( Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
29 Zhoushan Shenjiamen Jin Jiang Inn Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
30 Tianjin JinJin Hotel Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
31 Shanghai Jinpu Investment and Management Co., Ltd. (Note4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
32 Nanjing HuJin Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
33 Kunshan Jinlv Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
Changzhou Jinlv Investment and Management Co., Ltd.
34 PRC Service - 100.00 combination involving enterprises under
(Note 4)
common control
Subsidiaries acquired through a business
35 Xi'an Jinlv Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
Changchun Jin Jiang Inn Investment and Management Co., Ltd.
36 PRC Service - 100.00 combination involving enterprises under
(Note 4)
common control
Subsidiaries acquired through a business
37 Changchun Jinlv Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
38 Zhenjiang Jingkou Jin Jiang Inn Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
39 Wuhan Jinlv Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
Jinhua Jinlv Investment, Consultation and Management Co.,
40 PRC Service - 100.00 combination involving enterprises under
Ltd.(Note 4)
common control
Subsidiaries acquired through a business
41 Shenzhen Jinlv Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
42 Shenyang Wenhualu Jingkou Jin Jiang Inn Co., Ltd.(note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
43 Fuzhou Jinlv Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
Changzhou Jinning Hotels Investment and Management Co.,
44 PRC Service - 100.00 combination involving enterprises under
Ltd. (Note 4)
common control
Subsidiaries acquired through a business
45 Ma'anshan Jinlv Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
46 Hefei Jinlv Investment and Management Co., Ltd..(Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
47 Hohhot Jinlv Investment and Management Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
48 Kunming Hujin Hotel Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
Changzhou Jin Jiang Inn Investment and Management Co., Ltd.
49 PRC Service - 100.00 combination involving enterprises under
(Note 4)
common control
Subsidiaries acquired through a business
50 Xining Jinlv Inn Investment(Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
51 Qingdao Jin Jiang Inn Hotel Co., Ltd.(Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
52 Jinguang Express(Note 4) PRC Service - 100.00 combination involving enterprises under
common control
- 119 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group - continued
Principal place Shares (%)
of business and
Registered Nature of Direct Direct
No. Name of subsidiaries address business Methods of acquisition
Subsidiaries acquired through a business
53 Shanghai Jinle Hotel Co., Ltd. (Note 5) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
54 Ningbo Jinbo Hotel Co., Ltd. (Note 5) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
55 Suzhou New District Jinshi Hotels Co., Ltd. (Note 5) PRC Service - 60.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
56 Shanghai Jinhong Hotel Co., Ltd. (Note 5) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
57 Wuxi Jinxi Hotel Co., Ltd. (Note 5) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
Beijing Jin Jiang Inn Hotels Investment and Management Co.,
58 PRC Service - 100.00 combination involving enterprises under
Ltd. (Note 5)
common control
Subsidiaries acquired through a business
59 Shanghai Jinhai Hotel Co., Ltd.(Note 5) PRC Service - 70.00 combination involving enterprises under
common control
PRC Subsidiaries acquired through a business
60 Shanghai Jinhua Hotel Co., Ltd. (Note 5) Service - 80.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
61 Yangzhou Jinyang Hotel Co., Ltd. (Note 5) - 75.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
62 Shanghai Dishuihu Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
63 Huai'an Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
64 Shanghai Jinya Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
65 Hangzhou Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
66 Chongqing Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
67 Chengdu Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
68 Shanghai Jinning Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
69 Shanghai Jinmin Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
70 Nanchang Ruzilu Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
71 Nanchang West Nanjing Road Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
72 Shenyang Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
73 Jiaxing Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
74 Nanning Jin Jiang Inn Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
75 Shanghai Lin Qing Hotel Co., Ltd.(Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
76 Shanghai Jin Feng Hotel Co., Ltd. (Note 5) - 100.00 combination involving enterprises under
common control
PRC Service Subsidiaries acquired through a business
77 Tianjin Hu Jin Hotel Investment Co., Ltd.(Note 5) - 100.00 combination involving enterprises under
common control
- 120 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group - continued
Principal place Shares (%)
of business and Nature of
No. Name of subsidiaries Methods of acquisition
Registered business Direct Direct
address
Subsidiaries acquired through a business
78 Lhasa Jin Jiang Inn Hotel Co., Ltd.(Note 5) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
79 Shanghai Yujin Hotels Management Co., Ltd.(Note 5) PRC Service - 60.00 combination involving enterprises under
common control
Subsidiaries acquired through a business
80 City Inn (Note 5) PRC Service - 100.00 combination not involving enterprises under
common control
Lushan Jin Jiang International Hotel Investment Co., Ltd.
81 PRC Service - 60.00 Subsidiaries set up or invested by the Group
(Note 4)
82 Yili Jinlv Hotels Management Co., Ltd. (Note 4) PRC Service - 100.00 Subsidiaries set up or invested by the Group
83 Shanghai Jinxian Hotels Management Co., Ltd. (Note 4) PRC Service - 100.00 Subsidiaries set up or invested by the Group
Hangzhou Jinche Inn Hotels Investment and Management Co.,
84 PRC Service - 100.00 Subsidiaries set up or invested by the Group
Ltd. (Note 4)
85 Tianjin Jintai Hotels Management Co., Ltd (Note 3、4) PRC Service - 100.00 Subsidiaries set up or invested by the Group
86 Shanghai Jin Jiang shares (Hong Kong) Ltd. (Note 6) Hong Kong Investment - 100.00 Subsidiaries set up or invested by the Group
87 Sailing Investment (Note 6) Luxembourg Investment - 100.00 Subsidiaries set up or invested by the Group
Subsidiaries acquired through a business
88 GDL(Note 6) France Investment - 100.00 combination not involving enterprises under
common control
Subsidiaries acquired through a business
89 Star Eco(Note 6) France Investment - 100.00 combination not involving enterprises under
common control
Subsidiaries acquired through a business
90 Louvre Htels Group(Note 6、7) France Investment - 100.00 combination not involving enterprises under
common control
Subsidiaries acquired through a business
Cayman
91 Keystone(Note 8) Investment 81.0034 - combination not involving enterprises under
Islands
common control
Subsidiaries acquired through a business
92 7 Days Hotel (Shenzhen) Co., Ltd. (Note 9) PRC Service 81.0034 combination not involving enterprises under
common control
Subsidiaries acquired through a business
93 7 Days Four Seasons (Guangzhou) Co., Ltd.(Note 9) PRC Service 81.0034 combination not involving enterprises under
common control
Subsidiaries acquired through a business
Cayman
94 Plateno Investment Limited(Note9) Investment 81.0034 combination not involving enterprises under
Islands
common control
Subsidiaries acquired through a business
Cayman
95 Plateno Group Limited(Note9) Investment 81.0034 combination not involving enterprises under
Islands
common control
Subsidiaries acquired through a business
96 7 Days Group Holdings Limited(Note 9) Cayman Islands Investment 81.0034 combination not involving enterprises under
common control
Note 1: Subsidiaries of Catering Investment.
Note 2: Subsidiaries of New Asia Food.
Note 3: New subsidiary this period.
Note 4: Subsidiaries of Hotel Investment.
Note 5: Subsidiaries of Jin Jiang Inn.
Note 6: It is the subsidiary of Jinlu Investment
Note 7: Louvre Htels Group has 359 subsidiaries including wholly-owned subsidiaries 314: 283
registered in France, 14 in Poland, 14 in Netherlands, 12 in Britain, 11 in German, 8 in Spain and
the rest 17 in other countries.
Note 8: Keystone has 128 subsidiaries including 89 wholly-owned subsidiaries: 85 registered in
Mainland China and the rest 43 out of Mainland China.
Note 9: Subsidiaries of Keystone.
- 121 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(2) Important but not wholly-owned subsidiaries
Current period gain Current period
Equity balance of
Minority and loss declaration of
minority interests
shareholding attributable to dividends to
at the end of period
Name of subsidiaries (%) minority interests minority interests
Shanghai Yu Jin Hotel Management Co., Ltd. 40.00 642,580.11 - 10,358,774.77
Suzhou New District Jin Shi Hotel Co., Ltd. 40.00 482,780.67 - 6,725,522.09
Lushan Jin Jiang International Hotel Investment Co., Ltd. 40.00 (293,199.63) - 7,978,262.13
Gerestel Rodez Nancy Aurillac 34.00 122,641.12 - 8,022,148.68
Gestion Hotel Cahors Vitrolles 44.50 476,479.16 - 7,200,085.92
Gestion Htel de St Quentinen Yvelines 13.00 1,268,589.50 - 6,768,286.27
Gestion Htel Nanterre Paris 92 21.50 965,070.08 - 5,981,136.48
Shanghai Jinhua Hotel Co., Ltd. 20.00 719,134.34 - 5,389,885.24
Keystone 18.9966 8,370,305.21 - 592,758,343.72
- 122 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(3) Key financial information of important but not wholly-owned subsidiaries
RMB
30 June 2016 31 December 2015
Name of subsidiaries Non-current Non-current Non-current Current Non-current
Current assets Current liabilities Current assets
assets Total assets liabilities Total liabilities assets Total assets liabilities liabilities Total liabilities
Shanghai Yu Jin Hotel
45,885,860.21 41,931,287.56 87,817,147.77 29,840,335.99 32,079,874.79 61,920,210.78 17,698,729.03 10,087,728.03 27,786,457.06 3,495,970.41 - 3,495,970.41
Management Co., Ltd.
Suzhou New District Jin Shi
7,066,656.06 11,013,907.88 18,080,563.94 1,266,758.75 - 1,266,758.75 5,624,706.51 11,321,810.15 16,946,516.66 1,339,663.13 - 1,339,663.13
Hotel Co., Ltd.
Lushan Jin Jiang International
4,304,954.24 26,372,256.34 30,677,210.58 10,731,555.26 - 10,731,555.26 15,179,207.86 19,631,679.25 34,810,887.11 14,132,232.73 - 14,132,232.73
Hotel Investment Co., Ltd.
Gerestel Rodez Nancy Aurillac 15,795,978.31 14,711,121.94 30,507,100.25 3,721,400.90 3,191,144.41 6,912,545.31 14,936,822.56 14,359,471.80 29,296,294.36 3,397,533.97 3,538,579.68 6,936,113.65
Gestion Hotel Cahors Vitrolles 8,556,033.92 16,191,127.82 24,747,161.74 5,684,668.98 2,882,524.40 8,567,193.38 7,442,302.22 16,179,866.34 23,622,168.56 4,863,164.88 3,168,809.48 8,031,974.36
Gestion Htel de St Quentinen
17,953,638.90 78,202,667.75 96,156,306.65 4,410,143.38 39,682,422.73 44,092,566.11 12,691,238.73 77,567,641.60 90,258,880.33 4,018,667.71 39,851,821.93 43,870,489.64
Yvelines
Gestion Htel Nanterre Paris 92 8,885,026.46 52,054,928.43 60,939,954.89 4,597,290.68 28,523,424.78 33,120,715.46 7,295,892.70 51,395,853.44 58,691,746.14 4,169,496.98 28,757,300.23 32,926,797.21
Shanghai Jinhua Hotel Co., Ltd. 10,324,789.21 27,889,558.33 38,214,347.54 11,264,921.38 - 11,264,921.38 5,536,114.09 28,718,472.85 34,254,586.94 10,907,405.17 - 10,907,405.17
Keystone 2,179,063,559.15 5,078,765,542.38 7,257,829,101.53 3,483,756,015.48 623,723,707.64 4,107,479,723.12 - - - - - -
- 123 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(3) Key financial information of important but not wholly-owned subsidiaries - continued
RMB
Period from 1 January to 30 June 2016 Period from 1 January to 30 June 2015
Total Total
Name of subsidiaries Cash flows from Cash flows from
Operating income Net profit comprehensive Operating income Net profit comprehensive
operating activities operating activities
income income
Shanghai Yu Jin Hotel Management Co., Ltd. 9,156,129.54 1,606,450.27 1,606,450.27 (24,542,466.06) 9,029,037.34 1,399,425.61 1,399,425.61 2,365,319.89
Suzhou New District Jin Shi Hotel Co., Ltd. 4,355,211.91 1,206,951.68 1,206,951.68 (4,118,917.32) 4,760,486.62 1,338,372.11 1,338,372.11 1,206,137.31
Lushan Jin Jiang International Hotel
157,530.04 (732,999.08) (732,999.08) (791,304.37) - - - -
Investment Co., Ltd.
Gerestel Rodez Nancy Aurillac 6,497,980.92 360,709.17 360,709.17 (610,432.14) 5,991,403.06 219,649.92 (740.22) 57,775.11
Gestion Hotel Cahors Vitrolles 8,961,274.75 1,070,739.69 1,070,739.69 (1,120,250.13) 9,164,740.40 336,909.78 (13,505.95) 695,380.68
Gestion Htel de St Quentinen Yvelines 39,002,505.36 9,758,380.80 9,758,380.80 (4,665,643.41) 11,672,428.76 3,642,333.19 (106,669.76) 5,434,616.82
Gestion Htel Nanterre Paris 92 6,339,423.30 4,488,698.05 4,488,698.05 (4,156,760.62) 8,784,668.61 1,727,857.59 (32,359.54) 4,071,331.67
Shanghai Jinhua Hotel Co., Ltd. 15,855,927.78 3,595,671.70 3,595,671.70 4,297,660.14 15,856,502.74 3,514,218.39 3,514,218.39 3,715,237.53
Keystone 1,202,678,320.17 41,428,780.28 69,510,925.26 305,603,099.49 - - - -
2. Interest in associates
(1) Important associates
Shareholding ratio
Principal place Accounting method of
Name of associates Registered address Business nature (%)
of business associates
Direct Indirect
Shanghai Kentucky Fried Chicken 768 Shuang Liao Road, Yang Pu Equity method
Company Limited PRC District, Shanghai Produce fast food 42 -
Shanghai New Asia Fulihua Catering 808 Huai Hai Zhong Road, Catering, kitchen equipment, chemicals Equity method
Company Limited PRC Shanghai commodity etc. 41 -
- 124 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VII. EQUITY IN OTHER ENTITIES - continued
2. Interest in associates - continued
(2) Key financial information of important associates
RMB
30 June 2016/Period from 1 January to 30 30 June 2015/Period from 1 January to 30
June 2016 June 2015
Shanghai New Asia Shanghai New Asia
Shanghai Kentucky Shanghai Kentucky
Fulihua Fulihua
Current assets 265,964,260.06 75,373,840.36 64,405,015.15 65,672,224.40
Including: cash and cash
87,146,459.46 62,378,015.81 61,776,036.44 53,002,451.64
equivalents
Non-current assets 504,969,374.79 31,576,705.21 504,828,332.96 30,258,519.54
Total assets 770,933,634.85 106,950,545.57 569,233,348.11 95,930,743.94
Current liabilities 376,585,840.60 40,964,558.56 293,976,751.27 35,592,760.68
Non-current liabilities 41,917,924.80 1,292,267.50 19,041,490.85 579,737.50
Total liabilities 418,503,765.40 42,256,826.06 313,018,242.12 36,172,498.18
Minority interests - - - -
Equity attributable to shareholders
352,429,869.45 64,693,719.51 256,215,105.99 59,758,245.76
of the parent company
Share of net assets calculated based
148,020,545.17 26,524,425.00 107,610,344.54 24,500,880.75
on shareholding ratio
Book value of equity investments
148,020,545.23 26,524,424.99 107,610,344.54 24,500,880.75
in associates
Operating income 1,469,067,642.84 123,578,048.09 1,348,564,963.78 115,774,148.94
Financial expenses (1,341,301.81) 411,590.19 1,848,371.50 397,262.64
Income tax expenses 35,814,087.55 2,341,030.73 (1,143,677.36) 2,178,489.00
Net profit 109,076,779.48 7,023,092.14 33,161,591.83 6,535,466.95
Other comprehensive income - - - -
Total comprehensive income 109,076,779.48 7,023,092.14 33,161,591.83 6,535,466.95
Dividends received from associates
- 4,305,000.00 - 3,731,000.00
for the period
(3) Financial information summary of other associates
RMB
30 June 2016/Period from 30 June 2015/Period from
1 January to 30 June 2016 1 January to 30 June 2015
Associates
Total carrying amount of investments 125,301,780.34 80,854,800.09
Total amount of the following items based on shareholding ratio
-- Total net profit and comprehensive income 1,858,481.69 1,786,240.90
- 125 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VIII. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
The Group's major financial instruments include cash and bank balances, account receivables, account
payables, available-for-sale financial assets, borrowings and long-term payables etc. Details of these
financial instruments are disclosed in Note (V). The risks associated with these financial instruments and
the policies on how to mitigate these risks are set out below. Management manages and monitors these
exposures to ensure appropriate measures are implemented on a timely and effective manner.
The Group adopts sensitivity analysis techniques to analyze how the entity's profit and loss for the period
or owners' equity would have been affected by changes in the relevant risk variables that were reasonably
possible. As it is unlikely that risk variables will change in an isolated manner, and the interdependence
between risk variables will have significant effect on the amount ultimately influenced by the changes in a
single risk variable, the following items are based on the assumption that each risk variable has changes on
a stand-alone basis.
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 analyze the industry's exposure to various risks, establish
appropriate bottom line for risk tolerance, implement risk management, and monitors these exposures to
ensure appropriate measures are implemented on a timely and effective manner.
1.1Market risk
1.1.1. Currency risk
Currency risk is the risk of changes in the fair value or future cash flow will occur because of changes in
foreign exchange rates. As the Company and its subsidiaries in Mainland China mainly operated in
Mainland China and its principal businesses are denominated and settled in RMB, the majority of
transactions, assets and liabilities are recorded in RMB. As at 30 June 2016, the foreign currency balance
of the Company and its subsidiaries in Mainland China is primarily associated with certain cash and bank
balances as well as other receivables, therefore the Company and its subsidiaries in Mainland China is
exposed to foreign currency risks mainly associated with USD. Therefore, balances of assets and liabilities
of the Company and its subsidiaries in Mainland China are denominated in RMB except that the following
assets and liabilities in the table are denominated in USD.
Currency risks arising from the foreign currency balance of assets and liabilities may have impact on the
the performance of the Company and its subsidiaries in Mainland China. The Company and its subsidiaries
in Mainland China closely monitors the influence on the Group's currency risks incurred by fluctuations in
foreign exchange rate.
RMB
30 June 2016 31 December 2015
Cash and bank balances 305,055,918.59 -
Other receivables 487,114,851.00 -
Total 792,170,769.59 -
- 126 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VIII. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - continued
1、Risk management objectives and policies - continued
1.1Market risk - continued
1.1.1. Currency risk - continued
GDL, the Group's subsidiary out of Mainland China, mainly operates in Europe with Euro as the
settlement currency for its principal operating activities, and then Euro is the unit for most transactions,
assets and liabilities. As at 30 June 2016, the exposure to the foreign currency risk of GDL is primarily
associated with certain cash and bank balances in GBP and PLN. GDL closely monitors the foreign
currency risks of the Group incurred by fluctuations in foreign exchange rate. Due to the limited foreign
currency settlement, GDL believes that the current foreign currency risk has no significant impact on its
business operation.
Sensitivity analysis on foreign currency risks
Where all other variables are held constant, the reasonably possible changes in the USD exchange rate
may have the following influence on profit or loss and owners' equity:
RMB'000
Period from 1 January to 30 June 2016/ Period from 1 January to 30 June 2015/
30 June 2016 30 June 2015
Effect on profit before Effect on shareholders' Effect on profit before Effect on shareholders'
Fluctuations in exchange rate tax equity tax equity
Strengthen 5% against RMB 39,609 29,706 - -
Weaken 5% against RMB (39,609) (29,706) - -
1.1.2.Interest rate risk
Interest rate risk is the risk of changes in the fair value or future cash flow will occur because of changes
in interest rates. The Group's exposure to the interest rate risk is primarily associated with bank and cash,
borrowings and financing lease payables.
The Group's cash flow interest rate risk of financial instruments relates primarily to variable-rate bank
borrowings and financial lease payables (see Note (V).29 for details). It is the Group's policy to keep its
borrowings at floating rate of interests so as to eliminate the fair value interest rate risk.
Sensitivity analysis on interest rate risk
The sensitivity analysis on interest rate risk is based on the following assumptions:
Changes in the market interest rate may influence the interest income or expense of the variable
rate financial instruments;
Changes in the fair value of derivative financial instruments and other financial assets and
liabilities are calculated at the market interest rate as at the balance sheet date, using the method of
discounted cash flow analysis.
- 127 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VIII. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - continued
1、Risk management objectives and policies - continued
1.1Market risk - continued
1.1.2.Interest rate risk - continued
Sensitivity analysis on interest rate risk - continued
On the basis of the above assumptions, where all other variables are held constant, the reasonably possible
changes in the interest rate may have the following effect on the profit or loss for the period and owners
‘equity for the period from 1 January to 30 June 2016 and 1 January 2015 to 30 June 2015:
RMB'000
Period from 1 January to 30 June 2016/ Period from 1 January to 30 June 2015/
30 June 2016 30 June 2015
Changes in interest Effect on profit before Effect on shareholders' Effect on profit before Effect on shareholders'
rate tax equity tax equity
Increase by 25 bp (40,331) (28,415) (22,361) (14,661)
Decrease by 25bp 40,331 28,415 22,361 14,661
1.1.3. Other price risk
Other price risk is the risk except for foreign currency and interest rate risk. The Group is mainly exposed
to the other price risk including fair value changes of available-for-sale equity instruments caused by
changes in the value of securities. On 30 June 2016, details of the Group's available-for-sale equity
instruments are set out in Note (V) 9. Other price risk of assets in fair value may affect the Group's
performance and shareholders' equity. The Group closely monitors effects of security value changes. The
Group adopts the sensitivity analysis techniques to analyze the effects of reasonably possible changes in
security value risk. The Group believes the securities price risk has significant impact on the Group's
performance.
The Group is exposed to the price risk arising from financial assets which are measured at fair value. As at
30 June 2016, where all other variables keep constant, the reasonably 10% increment (decrement) in equity
instrument price will result in an increment (decrement) amounting to RMB 113,899,164.45 in
shareholders' equity of the Group.
1.2 Credit risk
As at 30 June 2016, the Group's maximum exposure to credit risk which will cause a financial loss to the
Group due to default by the counterparties and financial guarantees undertaken by the Group is arising
from:
The carrying amount of the respective recognized financial assets as stated 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 would
vary according to the future changes in fair value.
In order to minimize the credit risk, the Group has delegated a team responsible for determination of credit
limits, credit approvals and 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
The Group adopts a policy to control risk concentration to avoid over concentration of debts. As of 30
June 2016, there is no significant risk regarding credit concentration.
The current capital has been saved in bank and finance company with high credit standard, so the credit
risk is limited.
- 128 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
VIII. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - continued
1、Risk management objectives and policies - continued
1.3 Liquidity risk
Liquidity risk is the risk of capital shortage that enterprises encountered with when they performed
obligations related to financial liability. 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 monitors the utilization
of borrowings and ensures compliance with loan covenants.
At the end of the financial reporting period, the total current liabilities of the Group exceeds its total
current assets by RMB9, 453,714,175.37. The Group has adopted the following measures to reduce
liquidity risks:
Jinjiang International, the ultimate holding shareholder of the Group, agrees to provide necessary
financial support to maintain the going concern of the Group when the repayment amounts fall due
in the foreseeable future.
On 12 July 2016, in accordance with China Securities Regulatory Commission regulatory
permission to "On the Approval of Non-public Share Issuance of Shanghai Jin Jiang International
Hotel Development Co., LTD.," (Zheng Jian Xu Ke [2016] No.1090), the Company was approved
to issue no more than 153,418,700 shares of renminbi ordinary non-public shares (A share). The
actual issuance was completed on 2 August 2016 at the price of RMB 29.45 per share. Details are
set out in Note (XII) 2.
Therefore, the current risk undertook by the Group management was greatly reduced and had no
significant influence on the operation as well as the financial statements.
The following is the maturity analysis for financial liabilities held by the Group which is based on
undiscounted remaining contractual obligations:
Less than 1 year 1 to 5 years More than 5 years Total
Non-derivative financial liabilities:
Short-term loan 14,597,880,137.17 - - 14,597,880,137.17
Accounts payable 1,584,854,569.97 - - 1,584,854,569.97
Dividends payable 450,274.74 - - 450,274.74
Other payables 836,064,260.37 - - 836,064,260.37
Long-term payables and non-current
18,787,468.37 75,149,873.48 187,454,805.93 281,392,147.78
liabilities due within one year
Long-term loan and non-current liabilities
3,120,994,387.21 10,993,968,012.33 1,305,186,575.36 15,420,148,974.90
due within one year
Above table is prepared based on un-discounted cash flow of the Group's financial liabilities on the
possible earliest repayment day, with considering the cash flows of the principal and interest.
The undiscounted amount arises from the interest rate at the end of the financial reporting, and the contract
will expire at the earliest demanded repayment day.
2、Capital management
The Group manages its capital through optimizing structures of liabilities and shareholders' equity to make
sure that the main part of the Group could continue operating, and maximize the return on equity. The
overall strategies of the Group remain same from 1 January 2016 to 30 June 2016.
The capital of the Group consist of net liabilities and shareholders' equity.
The management of the Group regular reviews the Group's capital structure.
- 129 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
IX. DISCLOSURE OF FAIR VALUE
1、Closing fair value of assets and liabilities at fair value method
RMB
Fair value on 30 June 2016
Level 1 Level 2 Level 3
Total
Fair value Fair value Fair value
Sustained fair value
Available-for-sale financial assets 1,377,350,477.39 - - 1,377,350,477.39
Total assets sustained in fair value 1,377,350,477.39 - - 1,377,350,477.39
Held-for-trading financial liabilities
Including: Derivative financial liabilities - 7,731,861.50 - 7,731,861.50
Total liabilities sustained in fair value - 7,731,861.50 - 7,731,861.50
2 、 Evidences to confirm the market value of items measured by first level sustained and
non-sustained fair value
At the end of this financial reporting, fair value of the Group's other available-for-sale financial assets is
determined by reference to the closing price of issued stock in Shanghai stock exchange and Shenzhen
stock exchange on 30 June 2016, except that the fair value of available-for-sale financial assets of Ocean
Imagination L.P. is determined by reference to the privatized acquisition consideration of Elong(refers to
Note (V)9(2)).
3 、 Items measured by level two sustained fair value, applicable assessment technique and
information of important parameter
Fair value
Valuation techniques Input
on 30 June 2016
Derivative financial liabilities 7,731,861.50 Discounted cash flow Discount rate and forward interest rate
4、Fair value Information of financial assets and financial liabilities which are not measured by fair
value
For the Group's current assets and current liabilities that are not measured at fair value, the carrying
amount of financial assets and the financial liabilities approximate the fair value
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS
1. Basic information of parent company
Equity interests Voting rights
Name of company Registered address Principal operation Registered capital (%) (%))
Room316-318,No.24
Jin Jiang Hotels Yangxin East Road, Pudong Hotels Investment, hotel
Group District, Shanghai, PRC management and others RMB 5,566 million 50.32 50.32
Additional information of parent company
On 6 June 1995, Jin Jiang Hotels Group Stock Limited was restructured from Shanghai New Asia Group Co., Ltd in PRC, principal
operation of that include hotels investment, food and others. On 15 December 2006, Jin Jiang Hotels Group’s share (Stock
Code :02006) was approved to list in Hong Kong Stock Exchange. Its parent company and ultimate holding company is Jin Jiang
International.
The ultimate holding party is Jin Jiang International.
- 130 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
2. Basic information of subsidiary
The general information and other related information of the subsidiaries is set out in note (VII) 1.
3. Basic information of jointly controlled entities and associate
The Company has no jointly controlled entities. The general information and other related information of
associate is set out in Note (VII) 2.
4. Other related parties
Name of the Company Relationship with the Group
Shanghai Jinjiang International Hotels (Group) CO.,LTD Parent company
Shanghai Jin Jiang Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Hotel Co., Ltd. Fellow subsidiary
Cypress Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Pacific Hotel Co., Ltd. Fellow subsidiary
Shanghai Hongqiao Hotel Co., Ltd. Fellow subsidiary
Shanghai Hotel Co., Ltd. Fellow subsidiary
Jinshajiang Hotel Co., Ltd. Fellow subsidiary
Shanghai Peace Hotel Co., Ltd. Fellow subsidiary
Wuhan Jin Jiang Hotel Co., Ltd. Fellow subsidiary
Marvel Hotel Shanghai Fellow subsidiary
Sofitel Shanghai Hyland Hotel Co., Ltd. Fellow subsidiary
Shanghai Jianguo Hotel Co., Ltd. Fellow subsidiary
Shanghai MAGNOTEL Hotel Co., Ltd. Fellow subsidiary
Jin Jiang International Finance Co., Ltd. Fellow subsidiary
Shanghai New Asia Plaza Great Wall Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Hotel Commodities Co., Ltd. Fellow subsidiary
Jin Jiang International Hotel Management Co., Ltd. Fellow subsidiary
Shanghai Hua Ting Guest House Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Travel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Travel Corporation Fellow subsidiary
Shanghai JinJiang International Industrial Investment
Co., Ltd. Xin Jin Jiang Hotel Fellow subsidiary
Xi’an Xijing International Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Tomson Hotel Co., Ltd. Jointly controlled entity of
parent company
Les Roches Jin Jiang International Hotel Management College Associates of parent
company
Shanghai Yangtze Hotel Co., Ltd Associates of parent
company
- 131 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
4. Other related parties - continued
(Together, Jin Jiang Hotels Group and all above entities named as "Jin Jiang Hotels Group and
subsidiaries)
Shanghai Longshen business service Co., Ltd Subsidiary of ultimate holding
company
Shanghai New Asia (Group) Trade Co., Ltd. Subsidiary of ultimate holding
company
Jiaozhou Resort Hotel of Shanghai Food Group Subsidiary of ultimate holding
company
Shanghai Jin Jiang Advertising Co., Ltd Subsidiary of ultimate holding
company
Shanghai Jin Jiang Amusement Park Subsidiary of ultimate holding
company
Jinyuan Inn of Shanghai Foods Group Subsidiary of ultimate holding
company
Shanghai Jin Jiang property management Co., Ltd. Subsidiary of ultimate holding
company
Shanghai Genjie investment management Co., Ltd. Subsidiary of ultimate holding
company
Hong Kong Jin Jiang Travel Co., Ltd Subsidiary of ultimate holding
company
Shanghai East Jin Jiang Hotel Co., Ltd. Subsidiary of ultimate holding
company
Shanghai Meat Company Subsidiary of ultimate holding
company
Shanghai Jin Jiang International Investment
Management Co., LTD Subsidiary of ultimate holding
company
Shanghai Jin Jiang International E-Commerce Co., Ltd. Subsidiary of ultimate holding
company
Shanghai Hua Ting Hotel and Towers Co., Ltd. Subsidiary of ultimate holding
company
Shanghai Xinyuan Hotel Subsidiary of ultimate holding
company
Shanghai Hunan Egg Poducts Company Subsidiary of ultimate holding
company
Pictet Huitong Network Technology (Shanghai) Co., Ltd. Subsidiary of ultimate holding
company
(Together, Jin Jiang International and all above entities named as "Jin Jiang International and
subsidiaries")
Fortune News International Limited Controlled by key management personnel of
Keystone
Guangzhou Reocar Co., Ltd Controlled by key management personnel of
Keystone
Ruizhi(Guangzhou) Car Rental Co., Ltd Controlled by key management personnel of
Keystone
Shenzhen Judiantianxia Technology Co., Ltd Controlled by key management personnel of
Keystone
Guangzhou Baidawu Information
- 132 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
Technology Co., Ltd Controlled by key management personnel of
Keystone
(Together, all above entities named as "Related entities of Keystone")
- 133 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions
(1) Purchases or sales of goods, rendering or receiving of services
Facts of purchasing goods/Receiving labor service:
RMB
1 January 2016to 30 June 1 January 2015to 30 June
Related party Transaction type 2016 2015
1.Purchase goods
Jin Jiang Hotels Group and subsidiaries Purchasing of hotel commodities and food 342,257.87 529,322.61
Jin Jiang International and subsidiaries Purchasing of hotel commodities and food 15,342.00 441,100.00
Subtotal 357,599.87 970,422.61
2. Receiving labor services
Jin Jiang International and subsidiaries Membership credit services fees 1,282,717.79 1,142,925.06
Subtotal 1,282,717.79 1,142,925.06
Jin Jiang International and subsidiaries Room booking service fees 318,333.48 -
Subtotal 318,333.48 -
Facts of Sales of goods/Rendering labor service:
RMB
1 January 2016to 30 June 1 January 2015to 30
Related party Transaction type 2016 June 2015
1. Management fee
Management fee of limited- service business
Jin Jiang Hotels Group and subsidiaries hotels in Mainland China 526,409.31 570,224.25
Management fee of limited- service business
Jin Jiang International and subsidiaries hotels in Mainland China 380,222.15 358,078.46
Subtotal 906,631.46 928,302.71
2. Reservation channels fee
Reservation channels fee of limited-service
Jin Jiang Hotels Group and subsidiaries business hotels in Mainland China 103,260.57 234,997.00
Reservation channels fee of limited-service
Jin Jiang International and subsidiaries business hotels in Mainland China 89,863.34 140,352.00
Subtotal 193,123.91 375,349.00
3. Credit fee
Credit revenue of market Co-ordination in
Jin Jiang Hotels Group and subsidiaries Mainland China 18,016.02 -
Credit revenue of market Co-ordination in
Jin Jiang International and subsidiaries Mainland China 19,157.72 44,203.40
Subtotal 37,173.74 44,203.40
4. Sales of goods and food
Goods for sales of limited- service business
Jin Jiang Hotels Group and subsidiaries hotels in Mainland China 68,586.44 177,874.65
Goods for sales of limited- service business
Jin Jiang International and subsidiaries hotels in Mainland China 112,701.70 1,463.58
Subtotal 181,288.14 179,338.23
Jin Jiang Hotels Group and subsidiaries Food for sale 1,019,622.94 594,090.72
Jin Jiang International and subsidiaries Food for sale 69,763.40 54,073.16
Subtotal 1,089,386.34 648,163.88
- 134 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions - continued
(2) Facts of related lease
The Group as lessor:
RMB
Rental income(This Rental income(Last
Lessee Asset for lease
year) year)
Shanghai Jin Jiang advertising Co., Ltd Advertising location - 283,332.60
Les Roches Jin Jiang International Hotel
Office area 112,190.48 114,000.00
Management College
Sub-total 112,190.48 397,332.60
The Group as lessee:
RMB
Rental income(This Rental income(Last
Lessor
Asset for lease year) year)
Shanghai Genjie investment management Co., Ltd. Office and Operating region 5,314,285.71 5,400,000.00
Jinshajiang Hotel Co., Ltd. (Note) Operating region 5,038,607.22 5,292,000.00
Shanghai Hua Ting Guest House Co., Ltd. (Note) Operating region 4,089,584.90 4,284,000.00
Shanghai MAGNOTEL Hotel Co., Ltd. (Note) Operating region 4,017,495.30 4,452,000.00
Shanghai Jin Jiang Hotel Co., Ltd. Restaurant and stall building 1,527,892.57 1,552,536.00
Jinjiang International Office and Operating region 1,230,777.13 1,382,916.00
Shanghai New Asia Plaza Great Wall Hotel Co., Ltd. Hengfeng store - 781,087.01
Shanghai East Jin Jiang Hotel Co., Ltd. Office region 299,789.00 387,996.00
Shanghai Jin Jiang Amusement Park Operating region 285,033.66 289,630.95
Shanghai Jin Jiang property management Co., Ltd. Sales location of Haining store 331,307.92 336,651.60
Wuhan Jin Jiang Hotel Co., Ltd. Restaurant 206,907.93 273,428.34
Sub-total 22,341,681.34 24,432,245.90
Note: Company signed the " entrusted operation contract" with Jin Jiang Hotels Group and Marvel Hotel
Shanghai, the subsidiary of the Group, and "lease contract" with Huating Guest House, Jinshajiang Hotel
and MAGNOTEL Hotel respectively (refer to Note (X) (5)3)).
(3) Details on Entrusted and Lease operation of related parties
On 29 March 2013, the Company and Jin Jiang Hotels Group signed an entrusted operation contract, the
company entrusted with the operation part of the Jin Jiang Hotel Group, a subsidiary of Jin Jiang Hotels
Group Metropole Hotel Jin Jiang Hotels Group branches and New Asia Hotel Branch (hereinafter referred
to as "entrusted operation hotels"). The duration of entrusted operation period is 15 years, from 1 April
2013 to 31 March 2028, and the company enjoys a renewal option after the expiry of the period of the
commission, but not less than 5 years of renewal. The Company within the period of 15 years entrusted
with the operation, and pays a fixed amount annually to the Jin Jiang Hotel Group fiduciary business
expenses and the remaining gain or loss on operating assets entrusted to enjoy all the benefit of the
Company or commitments. In addition, the original debts above entrusted operation of two branches on 1
April 2013 form the Jin Jiang Hotel Group still continue to bear.
- 135 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions - continued
(3) Details on Entrusted and Lease operation of related parties - continued
On the same day, the Company signed a lease contract with Shanghai Hua Ting Guest House Co., Ltd.,
Jinshajiang Hotel Co., Ltd. and Shanghai MAGNOTEL Hotel Co., Ltd. The Company rented all properties
of the three hotel mentioned above (hereinafter collectively referred to as "leased hotels"). Lease period is
15 years from 1 April 2013 to 31 March 2028, and the company enjoys a renewal option after the expiry of
the lease period, but not less than 5 years of renewal. During the 15 years of the lease term, The Company
has to pay a fixed amount of leasing fee to the leased hotels. Meanwhile, for operating expense, The Group
have to pay compensation, social securities and related expense for those related employees are listed in
above three hotels since 31 March 2013. In addition, the three leased hotels mentioned above will bear
their own existing debts from 1, April 2013.
The entrusted operation hotels and leased hotels mentioned above Since ending of 1 April 2013, operating
results and cash flows for the period have been included in the consolidated income statement and
consolidated cash flow statement and statement of cash flows of the Company for the year and the Group
for the year. The above entrusted hotels and leased hotels operating assets since 1 April 2013, liabilities
have been included in the company's balance sheet and the Group's consolidated balance sheet.
On the same day, the Company signed a lease contract with Marvel Hotel Shanghai. The duration of
entrusted operation period is 14 years, from 1 January 2014 to 31 December 2027, and the company
enjoyed a renewal option after the expiry of the period of the commission, but not less than 6 months of
renewal and it should negotiate with Marvel Hotel Shanghai and Shanghai YMCA if renewal. The
Company within the period of 14 years entrusted with the operation, and paid an amount annually to the
Marvel Hotel Shanghai fiduciary business expenses. At the same time, the company borrowed qualified
staff registered in Marvel Hotel Shanghai, 31 December 2013, and paid expenses for labor remuneration,
social insurance premium and so on. In addition, the company bought out the inventory of the hotel whose
book value for the accounting basis is totally RMB 2447.23 in 31 December 2013. And the rights and debts
before 31 December 2013 belonging to Marvel Hotel Shanghai was assumed by the hotel as well. In the
reporting period, the company set up Shanghai Jin Jiang International Hotel Development Co.,Ltd YMCA
branch entrusted to operate business in the aftermath of the Marvel Hotel Shanghai in accounting, The
operating results and cash flow of Marvel Hotel Shanghai since 1 January 2014 to 30 June 2014 have been
incorporated in to the current income statement , statement of cash flow, group's merger current income
and consolidated cash flow statements. Assets and liabilities generated from operations from 1 January
2014 of Marvel Hotel Shanghai have been incorporated into both the Company's and the Group's
statements of assets and liabilities.
During the reporting period, the company being entrusted operation or lessee party, related expenses
associated fiduciary operations and leasing fees are as follows:
RMB
Entrusting Party / Leaser 1 January to 30 June 2016 1 January to 30 June 2015
Related entrusted operating expense/Rent expense
Jin Jiang Hotels Group 14,820,800.00 15,072,000.00
Marvel Hotel Shanghai 5,162,500.00 5,250,000.00
Jinshajiang Hotel Co., Ltd. 5,038,607.22 5,292,000.00
Shanghai Hua Ting Guest House Co., Ltd. 4,089,584.90 4,284,000.00
Shanghai MAGNOTEL Hotel Co., Ltd. 4,017,495.30 4,452,000.00
Total 33,128,987.42 34,350,000.00
RMB
Item 1 January to 30 June 2016 1 January to 30 June 2015
Fee of payment and social security of hired staff 27,009,970.34 15,289,461.81
- 136 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions - continued
(4) Loans from and to other related parties
RMB
Related party Amount of Inception date Maturity Date Remarks
borrowings/loans
Borrowed from:
Finance Company 100,000,000.00 20 October 2015 19 October 2016 Credit borrowings
Finance Company 200,000,000.00 21 December 2015 20 December 2016 Credit borrowings
Finance Company 400,000,000.00 21 December 2015 20 December 2016 Credit borrowings
Finance Company 200,000,000.00 18 February 2016 17 February 2017 Credit borrowings
Finance Company 100,000,000.00 4 August 2015 29 April 2016 Credit borrowings
Finance Company 100,000,000.00 20 October 2015 29 April 2016 Credit borrowings
Finance Company 400,000,000.00 19 January 2016 19 January 2016 Credit borrowings
Finance Company 200,000,000.00 19 January 2016 19 January 2016 Credit borrowings
Finance Company 200,000,000.00 19 January 2016 19 January 2016 Credit borrowings
Finance Company 100,000,000.00 19 January 2016 19 January 2016 Credit borrowings
Finance Company 400,000,000.00 20 January 2016 20 January 2016 Credit borrowings
Finance Company 100,000,000.00 20 January 2016 20 January 2016 Credit borrowings
Finance Company 400,000,000.00 21 January 2016 21 January 2016 Credit borrowings
Finance Company 200,000,000.00 21 January 2016 21 January 2016 Credit borrowings
Finance Company 200,000,000.00 21 January 2016 21 January 2016 Credit borrowings
Finance Company 100,000,000.00 21 January 2016 21 January 2016 Credit borrowings
Finance Company 180,000,000.00 26 January 2016 26 January 2016 Credit borrowings
Finance Company 400,000,000.00 26 January 2016 26 January 2016 Credit borrowings
Finance Company 200,000,000.00 26 January 2016 26 January 2016 Credit borrowings
Finance Company 100,000,000.00 18 February 2016 3 May 2016 Credit borrowings
Finance Company 120,000,000.00 29 April 2016 29 April 2016 Credit borrowings
Finance Company 200,000,000.00 29 April 2016 29 April 2016 Credit borrowings
Finance Company 200,000,000.00 29 April 2016 29 April 2016 Credit borrowings
Finance Company 100,000,000.00 29 April 2016 29 April 2016 Credit borrowings
Finance Company 100,000,000.00 3 May 2016 3 May 2016 Credit borrowings
Finance Company 400,000,000.00 3 May 2016 3 May 2016 Credit borrowings
Finance Company 400,000,000.00 27 June 2016 27 June 2016 Credit borrowings
Finance Company 200,000,000.00 27 June 2016 27 June 2016 Credit borrowings
Finance Company 200,000,000.00 27 June 2016 27 June 2016 Credit borrowings
Finance Company 100,000,000.00 27 June 2016 27 June 2016 Credit borrowings
Finance Company 400,000,000.00 2 February 2016 18 February 2016 Credit borrowings
Finance Company 200,000,000.00 22 March 2016 23 March 2016 Credit borrowings
Sub-total 6,900,000,000.00
Lend to:
Xinjin Hotel Management 9,000,000.00 17 November 2015 16 November 2017 Entrusted loan
Sub-total 9,000,000.00
- 137 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions - continued
(4) Loans from and to other related parties - continued
Interest expenses between the Group and the related parties are as below:
RMB
1 January 2016to 1 January 2015to
Item 30 June 2016 30 June 2015
Interest expenses 18,346,346.36 54,813,250.67
The Group has cash deposits in Finance Company. The balance and transactions are as below:
RMB
Finance Company 30 June 2016 31 December 2015
Closing balance 1,138,096,439.75 633,744,162.73
RMB
1 January 2016to 1 January 2015to
Finance Company 30 June 2016 30 June 2015
Accumulative amount of deposits at Finance Company 4,790,560,697.54 18,614,783,090.18
Accumulative amount of deposits withdrawn from
Finance Company 4,286,208,420.52 18,958,328,882.27
Interest income 4,737,766.59 6,796,196.06
(5) During the reporting period, no transfer with related parties or debt restructuring occurred.
(6) Pursuant to the shareholder agreement signed and executed by and between the Company and minority
shareholders of Keystone, minority shareholders of Keystone can sell to the Company all or part of
shares they held at a price calculated in a certain method in the future (“Right of Mandatory Sale”). In
March 2016, the Company made an agreement with the minority shareholders of Keystone that Jin
Jiang International and other related parties will purchase shares they held at sale.
(7) During the reporting period, no other related-party transactions occurred.
6. Account receivables and payables with related parties
(1) Accounts receivable
RMB
Item Related parties 30 June 2016 31 December 2015
Bad debt Bad debt
Carrying amount Carrying amount
provision provision
Accounts receivable Jin Jiang Hotels Group and subsidiaries 1,529,148.43 - 797,980.16 -
Accounts receivable Jin Jiang International and subsidiaries 2,425,380.78 - 1,491,446.00 -
Sub-total 3,954,529.21 - 2,289,426.16 -
Other receivables Jin Jiang International and subsidiaries 1,587,609.61 - 2,643,376.76 -
Other receivables Jin Jiang Hotels Group and subsidiaries 1,079,848.89 - 2,024,925.58 -
Other receivables Associates of GDL 10,951,875.00 - 10,799,175.72 -
Other receivables Related entities of Keystone 12,424,700.09 -
Sub-total 26,044,033.59 - 15,467,478.06 -
Prepaid Jin Jiang International and subsidiaries 2,617,500.00 - 237,130.86 -
Sub-total 2,617,500.00 - 237,130.86 -
Interest receivable Jin Jiang Hotels Group and subsidiaries 7,480,000.00 - 5,174,805.84 -
Sub-total 7,480,000.00 - 5,174,805.84 -
- 138 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
6. Account receivables and payables with related parties - continued
(2) Accounts payable
RMB
Item Related parties 30 June 2016 31 December 2015
Accounts payable Jin Jiang International and subsidiaries 5,870,120.95 10,238,012.27
Accounts payable Jin Jiang Hotels Group and subsidiaries 132,858.04 247,801.78
Sub-total 6,002,978.99 10,485,814.05
Other payables Jin Jiang International and subsidiaries 1,195,230.24 1,652,074.39
Other payables Jin Jiang Hotels Group and subsidiaries 3,252,704.94 2,640,078.90
Sub-total 4,447,935.18 4,292,153.29
Receipts in advance Related parties of Keystone 826,556.08 -
Sub-total 826,556.08 -
Interest payable Jin Jiang Hotels Group and subsidiaries 345,110.66 938,512.66
Sub-total 345,110.66 938,512.66
XI. COMMITMENTS AND CONTINGENCIES
1、Significant commitments
(1) Capital commitments
RMB'000
30 June 2016 31 December 2015
Capital commitments that have been entered into agreements but have
not been recognized in the financial statements
-commitments for the acquisition of property, plant and equipment 215,260 117,524
- commitments for external investment 1,069,600 8,554,920
Total 1,284,860 8,672,444
(2) Operating lease commitments
Till balance sheet date, facts of external signed and non-cancelable operating lease of the Group are as
follows:
RMB'000
30 June 2016 31 December 2015
Minimum lease payments under non-cancellable operating leases:
1st year subsequent to the balance sheet day 1,245,429 567,704
2nd year subsequent to the balance sheet day 1,275,314 603,346
3rd year subsequent to the balance sheet day 1,176,103 604,108
Subsequent periods 7,042,440 5,148,954
Total 10,739,286 6,924,112
2、Fulfillment of prior commitments
During financial reporting period, the prior commitments have been fully achieved.
3、Contingencies
At the end of reporting period, the Group has no significant contingencies that need to be disclosed.
- 139 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XII. EVENTS SUBSEQUENT TO THE BALANCE SHEET DATE
1. On 28 April 2016, the Group entered into an Equity Purchase Agreement with Mr. HUANG, Deman
and Vienna Hotels Management (Shenzhen) Co., Ltd to respectively purchase 80% share equity in
Vienna Hotels Co., Ltd ("Vienna") and Longeavity Village Catering Chain Co., Ltd ("Longeavity
Village"). On 3 May, the Group paid down payment and prepayments of RMB 680 million; on 4 July,
consideration for subscription of equity interest of RMB 656million, on 21 July 2016, consideration
for subscription of equity interest of RMB 238 million. Above consideration is subject to adjustment
according to the price adjustment mechanism set out in the Equity Purchase Agreement. On 1 July
2016, the Group obtained 80% share equity transferred from Vienna and Longeavity Village and thus
became a controlling shareholder of Vienna and Longeavity Village.
2. On 12 July 2016, in accordance with China Securities Regulatory Commission regulatory permission
to "On the Approval of Non-public Share Issuance of Shanghai Jin Jiang International Hotel
Development Co., LTD.," (Zheng Jian Xu Ke [2016] No.1090), the Company was approved to issue no
more than 153,418,700 shares of renminbi ordinary non-public shares (A share), of which the actual
offering includes 77,196,290 shares issued to Jin Jiang Hotels Group, and 20,325,976 shares to
HongYi Investment Fund, 15,244,482 shares to Shanghai Guosheng(Group) Investment Co., Ltd,
15,244,482 shares to China Great Wall Asset Management Corporation, 15,244,482 shares to HuaAn
Future Asset Management(Shanghai) Co., Ltd and 10,162,988 shares to SIG Asset Management Co.,
Ltd at the price of RMB 29.45per share. On 2 August 2016, registration related procedures of this
issuance were completed at Shanghai Branch of China Securities Depository and Clearing Corporation
Limited.
XIII. SEGMENT REPORTING
According to internal organization and management structure and internal reporting system, the Group
identifies five operation segments on basis of business type. The management of Group assigns resources
and assesses achievement according to periodical assessment on operation segments. Firstly, On the basis
of business nature, the Group identified five reporting segments based on business nature, which include
limited service hotels management and operation business in Mainland China, limited service hotels
management and operation business other than Mainland China, food and catering business and other
business. Furthermore, limited service hotel operation and management in Mainland China is further
divided into two businesses as limited service hotels management and operation business in Mainland
China, and Plateno Group limited service hotels management and operation business in Mainland China .
The products and labor services rendered by the reporting segments are mainly domestic Jinjiang
Metropolo hotel services, domestic Plateno Group hotel services, overseas hotel services, catering services
and other business.
Segment accounting policies are the accounting policies adopted for preparing the consolidated financial
statements or the financial statements of the enterprise.
Transfer price in segments is decided according to market price and indirect expenses are allocated to
segment by revenue proportion.
- 140 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIII. SEGMENT REPORTING - continued
1、Segment information
Segment information for the period from 1 January to 30 June 2016 is set below:
Jinjiang Metropolo Plateno Group
Overseas limited
limited hotel service limited service hotel
service hotels Food and Inter-segment
hotel operation and operation and Others Total
operation and catering business eliminations
management in management in
management
Mainland China Mainland China
Segment carrying amount
Operating income
Revenue arising from external
1,331,647,358.58 1,202,678,320.17 1,712,732,867.08 121,007,908.32 114,631.11 - 4,368,181,085.26
transactions
Revenue arising from inter-segment
275,000.00 - - 2,463,113.37 727,108.62 (3,465,221.99) -
transactions
Total operating income 1,331,922,358.58 1,202,678,320.17 1,712,732,867.08 123,471,021.69 841,739.73 (3,465,221.99) 4,368,181,085.26
Operating cost
Cost arising from external
93,324,120.47 149,057,148.07 131,689,793.90 60,014,967.58 10,296.02 - 434,096,326.04
transactions
Cost arising from inter-segment
- - - 1,633,082.07 580,180.18 (2,213,262.25) -
transactions
Total Operating cost of segments 93,324,120.47 149,057,148.07 131,689,793.90 61,648,049.65 590,476.20 (2,213,262.25) 434,096,326.04
Less: Business taxes and levies 47,129,555.01 31,483,066.83 - 4,625,600.15 159,134.64 - 83,397,356.63
Selling expenses 777,133,387.30 800,555,541.65 968,303,454.24 34,675,945.36 - (275,000.00) 2,580,393,328.55
Administrative expenses 318,739,223.42 125,975,614.50 424,078,283.51 38,293,774.83 31,776,829.50 (976,959.74) 937,886,766.02
Financial expenses 18,355,650.10 20,470,998.34 87,922,544.18 312,780.20 104,069,177.88 (1,613,076.23) 229,518,074.47
Impairment loss in respect of assets 653,890.78 13,485,259.97 414,261.57 (43,431.60) - - 14,509,980.72
Add: Profits or losses arising from
- - - - - - -
changes in fair values
Investment income 1,024,831.17 1,488,029.40 4,026,440.17 92,287,558.52 235,790,509.44 (1,613,076.23) 333,004,292.47
Operating profit
77,611,362.67 63,138,720.21 104,350,969.85 76,245,861.62 100,036,630.95 - 421,383,545.30
(Segment carrying amount)
Non-operating income 17,391,911.31 8,816,198.51 40,287,892.76 3,569,621.14 11,167,447.14 - 81,233,070.86
Non-operating expenses 846,425.87 6,909,944.96 5,464,123.28 214,796.96 21,013.41 - 13,456,304.48
Total profit
94,156,848.11 65,044,973.76 139,174,739.33 79,600,685.80 111,183,064.68 - 489,160,311.68
(Segment carrying amount)
Income tax 28,137,963.54 23,616,193.48 62,003,072.21 1,353,265.78 22,737,087.19 - 137,847,582.20
Net profit(Segment carrying amount) 66,018,884.57 41,428,780.28 77,171,667.12 78,247,420.02 88,445,977.49 - 351,312,729.48
Less amortized amount of fair value
of net identifiable assets exceeding its
4,536,868.06 17,157,617.37 26,226,117.32 - - - 47,920,602.75
carrying amount at the acquisition
date (note)
Net profit 61,482,016.51 24,271,162.91 50,945,549.80 78,247,420.02 88,445,977.49 - 303,392,126.73
Profit or loss attributable to minority
1,672,203.70 1,457,595.65 1,780,030.55 (675,036.18) - - 4,234,793.72
interests
Net profit attributable to owners of
59,809,812.81 22,813,567.26 49,165,519.25 78,922,456.20 88,445,977.49 - 299,157,333.01
the parent company
Total assets 5,933,064,456.79 13,697,395,017.75 12,808,014,525.31 283,874,092.04 10,830,338,514.27 (650,378,590.22) 42,902,308,015.94
Including: segment assets(Segment
5,462,100,314.66 6,594,924,360.02 5,942,084,225.31 107,225,700.66 10,828,343,178.11 (650,378,590.22) 28,284,299,188.54
carrying amount)
Long-term equity
investment(Segment carrying 1,381,601.92 27,887,833.65 91,933,587.45 176,648,391.38 1,995,336.16 - 299,846,750.56
amount)
Balance of amortized amount of fair
value of net identifiable assets
417,796,737.00 1,430,359,435.39 2,343,919,737.33 - - - 4,192,075,909.72
exceeding its carrying amount at the
acquisition date(note)
Goodwill 51,785,803.21 5,644,223,388.69 4,430,076,975.22 - - - 10,126,086,167.12
Total liabilities 2,020,867,484.42 4,529,636,401.33 12,043,205,946.80 108,542,346.46 15,399,505,687.81 (391,223,044.23) 33,710,534,822.59
Including: segment
1,916,418,300.17 4,107,479,723.12 11,236,194,381.20 108,542,346.46 15,399,505,687.81 (391,223,044.23) 32,376,917,394.53
liabilities(Segment carrying amount)
Balance of amortized amount of fair
value of net identifiable liabilities
104,449,184.25 422,156,678.21 807,011,565.60 - - - 1,333,617,428.06
exceeding its carrying amount at the
acquisition date(note)
Supplemental information:
Depreciation 107,018,849.99 19,930,291.55 161,394,698.18 2,182,521.29 372,448.98 - 290,898,809.99
Amortization 101,403,641.39 159,064,685.21 18,967,521.00 1,368,157.38 155,675.28 - 280,959,680.26
Interest income 2,829,661.60 4,332,968.08 645,201.06 147,420.86 107,858,377.92 - 115,813,629.52
Interest expenses 13,622,721.14 25,104,380.27 73,209,868.47 267,650.92 218,483,743.69 (1,613,076.23) 329,075,288.26
Impairment losses recognized(reversed)
653,890.78 13,485,259.97 414,261.57 (43,431.60) - - 14,509,980.72
in the current period
Investment income(loss) from
long-term equity investments 47,805.85 (1,392,520.73) 4,107,782.56 47,787,129.17 - - 50,550,196.85
under equity method of accounting
Amount of long-term equity
investments under equity method 1,381,601.92 27,887,833.65 91,933,587.45 176,648,391.38 1,995,336.16 - 299,846,750.56
of accounting
Non-current assets except for
5,131,575,760.22 11,474,331,324.39 11,192,983,490.25 42,038,398.30 5,397,153,823.90 (278,966,435.99) 32,959,116,361.07
long-term equity investment
Capital expenditure 229,843,806.52 22,688,561.46 127,498,120.08 1,172,476.45 - - 381,202,964.51
Including: Expenditure arising from
213,056,430.77 15,934,411.49 88,344,505.98 902,197.28 - - 318,237,545.52
construction in progress
Expenditure arising from acquisition
16,517,597.30 5,058,624.84 38,244,335.30 120,401.09 - - 59,940,958.53
of fixed assets
Expenditure arising from acquisition
27,060.00 524,396.36 754,330.47 - - - 1,305,786.83
of intangible assets
Expenditure arising from acquisition
242,718.45 1,171,128.77 154,948.33 149,878.08 - - 1,718,673.63
of long-term prepaid expenses
- 141 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIII. SEGMENT REPORTING - continued
1、Segment information - continued
Note: The amounts represent amortized amounts of fair value of identifiable assets and liabilities
exceeding their carrying amount during the reporting period and relevant balance thereof at the end of the
reporting period under the Group’s acquisition of segments not involving enterprises under common
control or the segment’s acquisition of subsidiaries not involving enterprises under common control.
Segment information for the period from 1 January to 30 June 2015 is set below:
RMB
Jinjiang Metropolo limited Overseas limited
hotel service hotel service hotels Food and catering Inter-segment
Others Total
operation and management operation and business eliminations
in Mainland China management
Segment carrying amount
Operating income
Revenue arising from external
1,297,475,755.12 1,066,923,598.25 124,798,512.59 131,180.00 - 2,489,329,045.96
transactions
Revenue arising from inter-segment
372,900.00 2,689,093.11 600,000.00 (3,661,993.11) -
transactions
Total operating income from segments 1,297,848,655.12 1,066,923,598.25 127,487,605.70 731,180.00 (3,661,993.11) 2,489,329,045.96
Operating cost
Cost arising from external transactions 84,149,936.24 81,432,390.19 59,422,510.00 - - 225,004,836.43
Cost arising from inter-segment
- - 1,709,521.12 600,000.00 (2,309,521.12) -
transactions
Total Operating cost from segments 84,149,936.24 81,432,390.19 61,132,031.12 600,000.00 (2,309,521.12) 225,004,836.43
Less: Business taxes and levies 66,106,383.48 - 6,875,690.63 33,900.00 - 73,015,974.11
Selling expenses 742,559,552.53 532,080,185.73 41,991,093.54 171,991.61 - 1,316,802,823.41
Administrative expenses 292,685,283.31 269,987,994.91 34,498,895.67 17,881,412.29 (656,790.99) 614,396,795.19
Financial expenses 17,540,682.51 53,698,323.35 62,553.15 9,888,118.83 (3,997,623.08) 77,192,054.76
Impairment loss in respect of assets 1,014,545.33 (857,029.43) (41,119.00) - - 116,396.90
Add: Profits or losses arising from
- - - - - -
changes in fair value
Investment income (331,762.24) 8,166,429.23 44,392,404.00 181,729,329.05 (4,001,431.95) 229,954,968.09
Operating profit
93,460,509.48 138,748,162.73 27,360,864.59 153,885,086.32 (699,489.87) 412,755,133.25
(Segment carrying amount)
Non-operating income 19,178,095.71 2,245,040.45 1,685,476.96 3,853,766.15 - 26,962,379.27
Non-operating expenses 1,084,918.48 1,198,116.57 49,262.31 - - 2,332,297.36
Total profit
111,553,686.71 139,795,086.61 28,997,079.24 157,738,852.47 (699,489.87) 437,385,215.16
(Segment carrying amount)
Income tax 33,011,191.56 54,711,293.71 772,859.54 36,007,702.58 - 124,503,047.39
Net profit(Segment carrying amount) 78,542,495.15 85,083,792.90 28,224,219.70 121,731,149.89 (699,489.87) 312,882,167.77
Less amortized amount of fair
value of net identifiable assets
4,536,868.06 13,275,333.67 - - - 17,812,201.73
exceeding its carrying amount at the
acquisition date
Net profit after adjustment 74,005,627.09 71,808,459.23 28,224,219.70 121,731,149.89 (699,489.87) 295,069,966.04
Profit or loss attributable to minority
1,799,191.52 2,145,130.26 (383,349.93) - - 3,560,971.85
interests
Net profit attributable to owners of the
72,206,435.57 69,663,328.97 28,607,569.63 121,731,149.89 (699,489.87) 291,508,994.19
parent company
Total assets 5,991,603,143.19 11,755,664,797.28 99,298,532.47 9,651,281,818.67 (748,185,605.92) 26,749,662,685.69
Including: Segment assets (Segment
5,507,695,479.53 5,383,042,023.22 95,248,560.96 9,517,436,219.84 (748,185,605.92) 19,755,236,677.63
carrying amount)
Long-term equity investment(Segment
2,226,808.65 72,843,646.39 4,049,971.51 133,845,598.83 - 212,966,025.38
carrying amount)
Balance of amortized amount of fair
value of net identifiable assets
429,895,051.80 2,316,926,082.28 - - - 2,746,821,134.08
exceeding its carrying amount at the
acquisition date
Goodwill 51,785,803.21 3,982,853,045.39 - - - 4,034,638,848.60
Total liabilities 2,175,056,251.57 11,166,149,519.67 87,860,481.31 5,465,382,898.45 (650,550,861.95) 18,243,898,289.05
Including: segment liabilities(Segment
2,067,582,488.62 10,368,431,869.54 87,860,481.31 5,465,382,898.45 (650,550,861.95) 17,338,706,875.97
carrying amount)
Balance of amortized amount of fair
value of net identifiable liabilities
107,473,762.95 797,717,650.13 - - - 905,191,413.08
exceeding its carrying amount at the
acquisition date
Supplemental information:
Depreciation 104,430,441.71 92,515,906.56 2,735,272.53 318,876.62 - 200,000,497.42
Amortization 93,432,869.44 14,970,954.08 1,484,753.72 236,744.60 - 110,125,321.84
Interest income 6,818,172.56 2,324,362.99 187,128.62 88,793,646.90 - 98,123,311.07
Interest expenses 16,709,809.96 52,537,265.05 34,542.50 98,667,554.00 (4,001,351.40) 163,947,820.11
Impairment losses recognized(reversed)
1,014,545.33 (857,029.43) (41,119.00) - - 116,396.90
in the current period
Investment income(loss) from
long-term equity investments under (1,551,472.60) 5,869,058.60 13,945,653.13 130,411.80 - 18,393,650.93
equity method of accounting
Amount of long-term equity
investments under equity method of 2,226,808.65 72,843,646.39 4,049,971.51 133,845,598.83 - 212,966,025.38
accounting
Non-current assets except for long-term
5,019,264,645.35 10,299,060,481.43 - 2,229,108,519.44 (295,970,899.45) 17,251,462,746.77
equity investment
Capital expenditure 200,038,172.38 39,708,876.69 1,685,972.49 9,950.00 - 241,442,971.56
Including: Expenditure arising from
181,788,704.04 21,146,817.41 597,631.73 - - 203,533,153.18
construction in progress
Expenditure arising from acquisition of
18,084,694.04 18,024,892.85 671,543.76 9,950.00 - 36,791,080.65
fixed assets
Expenditure arising from acquisition of
74,124.30 147,626.74 - - - 221,751.04
intangible assets
Expenditure arising from acquisition of
90,650.00 389,539.69 416,797.00 - - 896,986.69
long-term prepaid expenses
- 142 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
2、Principal business of the Group includes hotel operation and management, food and catering service etc.
The business of the Group is highly diversified and the Group does not rely on any specific customers.
- 143 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS
1、Cash and bank balances
RMB
30 June 2016 31 December 2015
Item Amount in Exchange Amount in Foreign Exchange
Amount in RMB Amount in RMB
Foreign Currency rate Currency rate
Cash:
RMB 209,929.98 285,568.20
Bank balances:
RMB (Note 1) 3,544,677,820.83 2,799,169,072.59
USD 81,615.51 6.6320 541,275.08 120,458.07 6.4936 782,206.52
Deposit in other financial
institutions(Note 2):
RMB 999,107,298.77 433,839,801.31
Total 4,544,536,324.66 3,234,076,648.62
Note1: The Company's pledged RMB 1,417,068,000.00 (Opening Balance: RMB 944,712,000.00) in
other currency funds. For details please reference to Note(V)28.
Note 2: Deposit in other financial institution represents the amount deposited in Finance Company
2、Accounts receivable
(1) Disclosure of accounts receivable by categories:
RMB
30 June 2016 31 December 2015
Book balance Bad debt provision Book balance Bad debt provision
Ratio Ratio Book balance Ratio Ratio
Category Amount (%) Amount (%) Amount Amount (%) Amount (%) Book value
Accounts receivable that are
individually significant and
for which bad debt - - - - - - - - - -
provision has been assessed
individually
Accounts receivable for
which bad debt provision
8,795,120.46 100.00 69,803.23 0.79 8,725,317.23 6,320,147.02 100.00 48,616.75 0.77 6,271,530.27
have been assessed by credit
risk portfolio
Accounts receivable that are
not individually significant
but for which bad debt - - - - - - - - - -
provision has been assessed
individually
Total 8,795,120.46 100.00 69,803.23 0.79 8,725,317.23 6,320,147.02 100.00 48,616.75 0.77 6,271,530.27
Bad debt provision of the Group’s accounts receivable that recognized by aging analysis:
RMB
30 June 2016
Aging Amount Bad debt provision Ratio (%)
Within 3 months 8,211,996.29 - -
3 to 6 months 496,128.66 2,339.30 0.47
6 to 12 months 26,042.12 6,510.54 25.00
More than 12 months 60,953.39 60,953.39 100.00
Total 8,795,120.46 69,803.23
(2) Provision, recovery or reversal of bad debts provisions for the period
RMB
Item 31 December 2015 Provision Reversal Write-off 30 June 2016
Bad debts provisions 48,616.75 51,668.99 (30,482.51) - 69,803.23
- 144 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
2、Accounts receivable - continued
(3) Top five entities with the largest balances of accounts receivable
RMB
Proportion of
the amount to
Name of entity the total
Relationship with the accounts Bad debt
Company Amount receivable (%) provision
Beijing Three Fast Technology Co., Ltd. Third party 1,620,901.30 18.43 -
Pictet Huitong Network Technology (Shanghai) Co., Ltd. Related party 1,012,091.19 11.51 585.47
Shanghai Jingyinghui Catering Co., Ltd Third party 298,589.50 3.39 1,893.57
Ctrip International Travel Agency(Shanghai) Co., Ltd Third party 282,815.92 3.22 -
Beijing Qunar Software Technology Co., Ltd Third party 159,203.58 1.81 -
Total 3,373,601.49 38.36 2,479.04
3、Interest receivable
RMB
Item 30 June 2016 31 December 2015
Term deposits at banks 37,186,343.38 28,723,398.72
Finance Company term deposit 7,480,000.00 5,080,000.00
Entrusted loan 17,279.16 84,154.59
Total 44,683,622.54 33,887,553.31
4、Dividends receivable
RMB
31 December Reasons for
Item 2015 Addition Deduction 30 June 2016 outstanding Impairment
Aging within 1 year
(1) Jin Jiang Inn - 170,000,000.00 - 170,000,000.00 Yet to be issued None
(2) Metropolo Hotel - 26,000,000.00 (26,000,000.00) -
(3) Chang Jiang Security Co., Ltd. - 26,600,000.00 (26,600,000.00) -
(4) Shenwan Hongyuan Stock Co., Ltd - 1,663,284.90 - 1,663,284.90 Yet to be issued None
(5) Jinjiang Food - 846,000.00 (846,000.00) -
(6)Hangzhou Kentucky Fried Chicken Co., Ltd. 9,507,026.99 29,157,567.86 (12,420,939.34) 26,243,655.51 Yet to be issued None
(7)Suzhou Kentucky Fried Chicken Co., Ltd. - 10,780,761.00 - 10,780,761.00 Yet to be issued None
(8)Wuxi Kentucky Fried Chicken Co., Ltd. - 4,691,549.98 (2,320,000.00) 2,371,549.98 Yet to be issued None
(9)Shanghai Kentucky Fried Chicken Co., Ltd. - 26,574,864.68 - 26,574,864.68 Yet to be issued None
(10) Shanghai New Asia Fulihua Catering Co.,
Ltd. - 4,305,000.00 (4,305,000.00) -
(11) Others - 132,033.76 (132,033.76) -
Total 9,507,026.99 300,751,062.18 (72,623,973.10) 237,634,116.07
As at the end of reporting period, there is no outstanding balance of dividends receivable aging more than
one year.
- 145 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
5、Other receivables
(1) Disclosure of other receivables by category:
RMB
30 June 2016 31 December 2015
Book balance Bad debt provision Book balance Bad debt provision
Ratio Ratio Ratio Ratio
Category Amount (%) Amount (%) Book value Amount (%) Amount (%) Book value
Other receivables that are
individually significant and
for which bad debt provision
has been assessed
individually 615,649,456.68 97.61 - - 615,649,456.68 134,068,832.68 91.03 - - 134,068,832.68
Other receivables for which
bad debt provision have been
assessed by credit risk
portfolio - - - - - - - - - -
Other receivables that are not
individually significant but
for which bad debt provision
has been assessed
individually 15,082,021.22 2.39 606,265.93 4.02 14,475,755.29 13,213,466.21 8.97 606,265.93 4.59 12,607,200.28
Total 630,731,477.90 100.00 606,265.93 0.10 630,125,211.97 147,282,298.89 100.00 606,265.93 0.41 146,676,032.96
(2) Provision, recovery or reversal of bad debts provisions for the period
During the reporting period, the bad debt amount of other receivable remains the same.
(3) Other receivables by nature
RMB
Nature 30 June 2016 31 December 2015
Equity acquisition consideration to be recovered (Note (VI)1) 480,656,509.90 -
Advance money for related parties 146,619,263.43 144,040,291.04
Deposit 349,752.02 334,752.02
Business working capital 237,800.00 253,285.70
Other 2,868,152.55 2,653,970.13
Total 630,731,477.90 147,282,298.89
(3) Top five entities with the largest balances of other receivables
RMB
Proportion of
the amount to
Name the total other Closing
Relationship with receivables balance of bad
Nature the Group Amount Aging (%) debt provision
Equity acquisition
Within
JP Morgan & Chase consideration to be Third party 480,656,509.90 76.21 -
1year
recovered
Advance money for
Smartel Subsidiary 50,000,000.00 2 to3 years 7.93 -
related parties
Advance money for
Da Hua Hotel Subsidiary 47,595,022.50 1to 5 years 7.55 -
related parties
Advance money for
Minhang Hotel Subsidiary 30,449,295.35 1to 3 years 4.83 -
related parties
Advance money for
Jin Jiang Metropolo Subsidiary 6,948,628.93 1 to3 years 1.10 -
related parties
Total 615,649,456.68 97.62 -
- 146 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
6、Inventories
RMB
30 June 2016 31 December 2015
Item Book balance Provision Carrying value Book balance Provision Carrying value
Raw material 835,324.82 - 835,324.82 782,519.22 - 782,519.22
Goods in stock 1,326,692.90 - 1,326,692.90 3,266,635.92 - 3,266,635.92
Total 2,162,017.72 - 2,162,017.72 4,049,155.14 - 4,049,155.14
7、Non-current assets due within one year
RMB
Item 30 June 2016 31 December 2015
Entrusted loans (Note(XIV)31(5)) - 200,000,000.00
Total - 200,000,000.00
8、Other current assets
RMB
Item 30 June 2016 31 December 2015
Entrusted loans (Note(XIV)31(5)) 18,000,000.00 10,000,000.00
Prepaid tax 15,510,397.21 -
Deferred expenses 120,570.34 16,467.45
Total 33,630,967.55 10,016,467.45
9、Long-term receivables
RMB
30 June 2016 31 December 2015
Capital proportion from related parties 10,328,000.00 10,328,000.00
Total 10,328,000.00 10,328,000.00
Note: The balance of long-term receivables is current capital proportion from New Asia Food
10、Long-term equity investments
(1) Details of long-term equity investments are as follows:
RMB
Item 30 June 2016 31 December 2015
Investments in subsidiaries 12,063,277,303.87 3,982,107,303.87
Investments in associates 176,540,306.37 158,599,006.40
Total 12,239,817,610.24 4,140,706,310.27
Less: Provision for impairment loss of long-term
2,051,300.00 2,051,300.00
equity investments
Net value of long-term equity investments 12,237,766,310.24 4,138,655,010.27
(2) Movements of provision for impairment of long-term equity investments for the period:
RMB
Investee 2015/12/31 Addition Deduction 2016/06/30
Subsidiary
- Food and Beverage Serving Equipment 2,051,300.00 - - 2,051,300.00
Total 2,051,300.00 - - 2,051,300.00
- 147 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
10、Long-term equity investments - continued
(3) Details of long-term equity investments in subsidiary are as follows:
RMB
Remark on
Equity interest Voting right in
Impairment loss inconsistent between Provision for
Investee Accounting Method Initial investments 2015/12/31 Addition provided for the period
2016/06/30 in the investee the investee
equity interest and impairment loss
(%) (%)
voting right
Subsidiary
Keystone Cost Method 8,081,170,000.00 - 8,081,170,000.00 - 8,081,170,000.00 81.0034 81.0034 N/A
Hotels Investment Cost Method 1,733,088,660.71 2,033,088,660.71 - - 2,033,088,660.71 100.00 100.00 N/A
Smartel Cost Method 686,345,057.89 986,345,057.89 - - 986,345,057.89 100.00 100.00 N/A
Jin Jiang Inn Cost Method 377,261,176.09 377,261,176.09 - - 377,261,176.09 100.00 100.00 N/A
Catering Investment Cost Method 149,804,836.13 149,804,836.13 - - 149,804,836.13 100.00 100.00 N/A
Jin Jiang Metropolo Cost Method 50,000,000.00 50,000,000.00 - - 50,000,000.00 100.00 100.00 N/A
Da Hua Hotel Cost Method 18,692,739.64 18,692,739.64 - - 18,692,739.64 100.00 100.00 N/A
Minhang Hotel Cost Method 5,505,600.00 5,505,600.00 - - 5,505,600.00 98.25 100.00 Note 1
Jin Pan Hotel Cost Method 5,000,000.00 5,000,000.00 - - 5,000,000.00 100.00 100.00 N/A
Jinjiang Food Cost Method 3,269,783.41 3,269,783.41 - - 3,269,783.41 18.00 100.00 N/A
Food and Beverage
Serving Equipment
Cost Method 2,051,300.00 2,051,300.00 - - 2,051,300.00 100.00 100.00 N/A 2,051,300.00
New Asia Food Cost Method 1,088,150.00 1,088,150.00 - - 1,088,150.00 5.00 100.00 Note 1
Jin Lu Investment Cost Method 1,000,000.00 350,000,000.00 - - 350,000,000.00 100.00 100.00 N/A
Total 3,982,107,303.87 8,081,170,000.00 - 12,063,277,303.87 2,051,300.00
Note1: The Company and Catering Investment hold shares proportion of Minhang Hotel at 98.25% and 1.75% respectively. The Company and Catering Investment
hold shares proportion at 5% and 95% respectively.
- 148 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
10、Long-term equity investments - continued
(4) Details of long-term equity investments in associates are as follow:
RMB
Movements
Other Net profit
Net profit Provision for
Addition Deduction comprehensive Other changes Cash dividend /(losses) Impairment
/(losses) using impairment
Initial investment investment income in equity declared using equity loss provided
equity method loss
Investee investment cost 2015/12/31 adjustment method 2016/06/30 for the year
Associates
Shanghai Kentucky Fried Chicken Co., Ltd. 97,977,250.00 128,783,162.53 - - 45,812,247.38 - - (26,574,864.68) - - 148,020,545.23 -
Shanghai New Asia Fulihua Catering Co., Ltd. 14,350,000.00 27,949,957.21 - - 2,879,467.78 - - (4,305,000.00) - - 26,524,424.99 -
Shanghai Xinlu Catering Development Co., Ltd. 2,719,227.00 1,865,886.66 - - 129,449.49 - - - - - 1,995,336.15 -
Total 158,599,006.40 - - 48,821,164.65 - - (30,879,864.68) - - 176,540,306.37 -
During the reporting period, the Company is not exposed to limitation on the transfer of funds from the investee. At end of period, the Group doesn't have unrecognized
investment loss.
- 149 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
11、 Fixed assets
RMB
Item Buildings Equipment Motor vehicles Decoration Total
I、Original carrying amount
1. 31 December 2015 51,745,577.93 40,442,605.87 1,693,465.01 14,820,554.09 108,702,202.90
2. Addition - 17,144,884.96 - 1,827,512.00 18,972,396.96
(1) Purchase - 1,313,542.57 - - 1,313,542.57
(2) Transferred-in from construction
in progress - 15,819,598.05 - 1,827,512.00 17,647,110.05
(3) Construction clearing
adjustment - 11,744.34 - - 11,744.34
3.Deduction - (74,874.07) - - (74,874.07)
(1) Disposal or retirement - (74,874.07) - - (74,874.07)
4. 30 June 2016 51,745,577.93 57,512,616.76 1,693,465.01 16,648,066.09 127,599,725.79
II、Accumulated depreciation
1. 31 December 2015 17,320,419.24 29,260,789.32 1,517,057.17 10,709,512.41 58,807,778.14
2. Addition-provision 873,107.67 1,539,775.05 4,601.28 901,600.50 3,319,084.50
3. Deduction- disposal or retirement - (63,335.78) - - (63,335.78)
4. 30 June 2016 18,193,526.91 30,737,228.59 1,521,658.45 11,611,112.91 62,063,526.86
III、Provision for impairment loss
1. 31 December 2015 - - - - -
2. Addition - - - - -
3. Deduction - - - - -
4. 30 June 2016 - - - - -
IV、Book Value
1. 30 June 2016 33,552,051.02 26,775,388.17 171,806.56 5,036,953.18 65,536,198.93
2. 31 December 2015 34,425,158.69 11,181,816.55 176,407.84 4,111,041.68 49,894,424.76
12、Construction in progress
(1) Details of construction in progress are as follows:
30 June 2016 31 December 2015
Provision for Provision for
Item
impairment impairment
Book balance loss Net booking value Book balance loss Net booking value
Renovation of JJ Metropolo, Xinya Grand Hotel 103,478,895.23 - 103,478,895.23 80,486,536.30 - 80,486,536.30
Renovation of Campanile Dafang Restaurant 21,706,016.86 - 21,706,016.86 102,331.73 - 102,331.73
Renovation of JJ Metropolo, South Huating Hotel 20,787,498.60 - 20,787,498.60 20,787,496.04 - 20,787,496.04
Renovation of JJ Metropolo in Nanjing Hotel 6,435,844.60 - 6,435,844.60 - - -
Renovation of JJ Metropolo Xincheng Hotel - - - 88,083,808.90 - 88,083,808.90
Other Renovation 1,154,278.56 - 1,154,278.56 1,584,310.27 - 1,584,310.27
Total 153,562,533.85 - 153,562,533.85 191,044,483.24 - 191,044,483.24
- 150 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
12、Construction in progress - continued
(2) Movement of significant construction in progress
RMB
Including: Ratio of
Cumulative
Transfer to Project in the amount of interest
31 December Transfer to fixed Transfer to Rate of amount of Capital
Item Budget Addition long-term prepaid Other deductions 30 June 2016 proportion of interest capitalization
2015 assets intangible assets progress interest resource
expenses budgetary capitalization for for this
capitalization
this period period (%)
Renovation of JJ Metropolo, Xinya Grand Hotel 114,961,730.00 80,486,536.30 22,992,358.93 - - - - 103,478,895.23 90.00% 90.00% - - - Self-financing
Renovation of Campanile at Fujian South Road 28,938,617.00 102,331.73 21,603,685.13 - - - - 21,706,016.86 75.00% 75.00% - - - Self-financing
Renovation of JJ Metropolo, South Huating Hotel 46,002,906.00 20,787,496.04 2.56 - - - - 20,787,498.60 45.00% 45.00% - - - Self-financing
Renovation of JJ Metropolo in Nanjing 50,000,000.00 - 6,435,844.60 - - - - 6,435,844.60 13.00% 7.00% - - - Self-financing
Renovation of JJ Metropolo Restaurant 88,083,808.90 88,083,808.90 - (15,590,803.79) (68,255,260.53) (9,670.00) (4,228,074.58) - 100.00% 100.00% - - - Self-financing
Other renovation 1,584,310.27 3,996,512.55 (2,056,306.26) (2,370,238.00) - - 1,154,278.56 - - -
Total 191,044,483.24 55,028,403.77 (17,647,110.05) (70,625,498.53) (9,670.00) (4,228,074.58) 153,562,533.85 - - -
- 151 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
13、Intangible assets
RMB
Item Land use rights Others Total
I. Cost
1.31 December 2015 91,847,425.45 1,972,987.83 93,820,413.28
2. Purchase - 1,800.00 1,800.00
3. Transferred from construction in progress - 9,670.00 9,670.00
3. Deduction - - -
4. 30 June 2016 91,847,425.45 1,984,457.83 93,831,883.28
II. Accumulated amortization
1.31 December 2015 34,789,823.02 1,950,981.86 36,740,804.88
2. Addition-provision 1,171,202.88 3,892.69 1,175,095.57
3. Deduction - - -
4.30 June 2016 35,961,025.90 1,954,874.55 37,915,900.45
III. Provision for impairment losses
1.31 December 2015 - - -
2.Addition - - -
3.Deduction - - -
4. 30 June 2016 - - -
IV. Book Value
1.30 June 2016 55,886,399.55 29,583.28 55,915,982.83
2.31 December 2015 57,057,602.43 22,005.97 57,079,608.40
14、Long-term prepaid expenses
RMB
31 December 30 June
Item Addition (Note) Amortization Other deduction
2015 2016
Leasehold improvement of fixed assets 5,164,600.29 43,945,497.30 (210,504.37) (996,938.00) 47,902,655.22
Leasehold decoration of fixed assets 775,835.14 26,680,001.23 (551,690.31) (56,768.00) 26,847,378.06
Total 5,940,435.43 70,625,498.53 (762,194.68) (1,053,706.00) 74,750,033.28
Note: Addition for the period includes long-term prepaid expenses RMB70, 625,498.53 Transferred from
construction in progress.
15、Other non-current assets
RMB
Item 2016/06/ 30 31 December 2015
Pledged deposit due after one year (Note(V)28) 3,306,492,000.00 3,778,848,000.00
Equity acquisition consideration (Note(XII)1) 680,000,000.00 -
Interest arising from pledged deposit due after one year 155,110,634.32 96,451,789.44
Total 4,141,602,634.32 3,875,299,789.44
- 152 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
16、Deferred tax assets and liabilities
(1) Deferred tax assets before offsetting are set below
RMB
30 June 2016 31 December 2015
Item Deductible Deductible
temporary Deferred tax temporary
differences assets differences Deferred tax assets
Employee benefits payable 20,140,996.82 5,035,249.21 14,544,446.74 3,636,111.69
Provision for impairment losses 5,676,069.16 1,419,017.29 5,654,882.68 1,413,720.67
Government subsidy 5,500,000.00 1,375,000.00 5,500,000.00 1,375,000.00
Operating lease fee 3,365,628.62 841,407.16 2,871,142.88 717,785.72
Advances of membership card and
deferred revenue on
membership points 1,877,422.37 469,355.59 2,283,643.80 570,910.95
Total 36,560,116.97 9,140,029.25 30,854,116.10 7,713,529.03
(2) Deferred tax liabilities before offsetting are set below
RMB
30 June 2016 31 December 2015
Item Taxable
Taxable temporary Deferred tax temporary Deferred tax
differences liabilities differences liabilities
Changes in fair value of
available-for-sale financial assets
recognized in other comprehensive
income 850,370,740.46 212,592,685.13 1,187,210,833.11 296,802,708.29
Total 850,370,740.46 212,592,685.13 1,187,210,833.11 296,802,708.29
(3) Deferred tax assets or liabilities after offsetting are set below
RMB
30 June 2016 31 December 2015
Deferred tax Offsetting Deferred tax assets
Item Offsetting between assets or Deferred between deferred or Deferred tax
deferred tax assets tax liabilities after tax assets and liabilities after
and deferred tax offsetting deferred tax offsetting
liabilities liabilities
Deferred tax assets 9,140,029.25 - 7,713,529.03 -
Deferred tax liabilities 9,140,029.25 203,452,655.88 7,713,529.03 289,089,179.26
- 153 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
17、Provision for impairment loss of assets
RMB
Deduction
Item 31 December 2015 Addition 30 June 2016
Reversal Write-off
I. Provision for bad debt 654,882.68 51,668.99 (30,482.51) - 676,069.16
II. Provision for impairment loss of
- - - - -
inventories
III. Provision for impairment loss of
- - - - -
available-for- sale financial assets
IV. Provision for impairment loss of
- - - - -
held-to-maturity financial assets
V. Provision for impairment loss of
2,051,300.00 - - - 2,051,300.00
long-term equity investments
VI. Provision for impairment loss of
- - - - -
investment property
VII. Provision for impairment loss of
- - - - -
fixed assets
VIII. Provision for impairment loss of
- - - - -
construction materials
IX. Provision for impairment loss of
- - - - -
construction in progress
X. Provision for impairment loss of
- - - - -
bearer biological assets
Including: provision for impairment loss
- - - - -
of mature bearer biological assets
XI. Provision for impairment loss of oil
- - - - -
and gas assets
XII. Provision for impairment loss of
- - - - -
intangible assets
XIII. Provision for impairment loss of
- - - - -
goodwill
XIV. Others - - - -
Total 2,706,182.68 51,668.99 (30,482.51) - 2,727,369.16
18、Short-term loans
RMB
Item 30 June 2016 31 December 2015
Credit borrowings- Bank 9,100,000,000.00 3,700,000,000.00
Credit borrowings - Other financial institution (Note (V) 19) 900,000,000.00 900,000,000.00
Credit borrowings - Entrusted borrowings (Note 2) 50,000,000.00 47,000,000.00
Total (Note 3) 10,050,000,000.00 4,647,000,000.00
Note 1: As at the end of reporting period, the Company obtained short-term borrowings with one year
maturity from the following entities: China Construction Bank Corporation amounting to
RMB2,000,000,000.00 at annual interest rate ranging from 3.915% to 4.14%; China Merchants
Bank Co., Ltd amounting to RMB1,900,000,000.00 at annual interest rate of 3.915%, among the
borrowings RMB 1,500,000,000.00 at floating interest rate; SPD Bank(Shanghai) amounting to
RMB1,800,000,000.00 at annual interest rate ranging from 3.915% to 4.14%; Bank of Shanghai
Limited amounting to 500,000,000.00 at annual interest rate 3.915%; Agriculture Bank of China
amounting to RMB1,000,000,000.00 at annual interest rate 3.915%; Bank of China Limited
amounting to RMB1,000,000,000.00 at annual interest rate 3.915%; and Shanghai Rural
Commercial Bank amounting to RMB900,000,000.00 at annual interest rate 3.915%.
Note 2: The balances are entrusted borrowings from Jin Jiang Metropolo through Finance Company
amounting to RMB50, 000,000.00 at an interest rate of 3.06%. Refer to Note (XIV) 31(5) for the
detail duration.
Note 3: Including RMB1,500,000,000.00 borrowings at a floating interest rate.
- 154 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
19、Employee benefits payable
(1) List of employee benefits payable
RMB
31 December
Addition Deduction
Item 2015 30 June 2016
1.Short-term wages or salaries payable 8,825,653.70 42,739,663.25 38,628,147.43 12,937,169.52
2.Post-employment benefits-Defined Contribution Plan 175,297.06 5,704,982.07 5,826,882.07 53,397.06
3.Termination compensation 14,544,446.74 205,720.07 2,952,819.62 11,797,347.19
Total 23,545,397.50 48,650,365.39 47,407,849.12 24,787,913.77
(2) List of short-term employee benefits payable
RMB
31 December
Addition Deduction
Item 2015 30 June 2016
I. Wages or salaries, bonus, allowance, subsidies 8,189,368.70
34,226,907.54 30,090,406.70 12,325,869.54
II. Staff welfare - 2,095,688.33 2,095,688.33 -
III. Social security 16,744.09 2,736,254.54 2,736,253.94 16,744.69
Included:Medical insurance 16,102.08 2,402,843.75 2,402,843.75 16,102.08
Work injury insurance 404.57 124,656.47 124,655.87 405.17
Maternity insurance 237.44 208,754.32 208,754.32 237.44
IV、Housing fund 122,248.00 2,129,671.00 2,251,571.00 348.00
V、Labor union and education fund 497,292.91 722,810.84 625,896.46 594,207.29
VI、Others - 828,331.00 828,331.00 -
Total 8,825,653.70 42,739,663.25 38,628,147.43 12,937,169.52
(3) Defined contribution plan
RMB
31 December
Item 2015 Addition Deduction 30 June 2016
1、Annuity insurance 170,481.18 5,429,102.07 5,551,002.07 48,581.18
2、Unemployment insurance 4,815.88 275,880.00 275,880.00 4,815.88
Total 175,297.06 5,704,982.07 5,826,882.07 53,397.06
The Company follows policies to join in annuity insurance and unemployment insurance plans which are
established by government. According to these plans, the company follows 1.5% of 21% of monthly
average salaries of last year to deposit payments for these plans monthly. And the Company does not
assume further obligations. Corresponding expenditures incurred are included in profit or loss or costs of
related assets.
The Company have to deposit RMB 5,429,102.07and RMB 275,880.00 to annuity plan and unemployment
insurance plan respectively for 1 January 2016 through 30 June 2016 (from 1 January 2015 through 30
June 2016: RMB 3,813,535.30 and RMB 201,454.73 respectively). On 30 June 2016, the Company had
RMB 48,581.18and RMB 4,815.88 (31 December 2015: RMB 170,481.18 and RMB 4,815.88) due to the
annuity insurance and unemployment insurance that were due within the reporting period.
Nevertheless, the related payable fees have been paid after financial reporting period.
- 155 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
20、Taxes payable
RMB
Item 30 June 2016 31 December 2015
Value added tax 323,950.33 (1,324,015.84)
Business tax - 850,350.67
Enterprise income tax - 73,548,197.33
Individual income tax 213,904.42 334,053.57
House property tax 72,731.93 72,731.92
Others 7,435,866.77 7,228,735.46
Total 8,046,453.45 80,710,053.11
21、Other payables
(1) Details of other payables are as follows:
RMB
Item 30 June 2016 31 December 2015
Performance bonds for non-public offering 78,391,614.44 78,391,614.44
(Note(III))
Provision of significant assets replacement and tax 58,623,448.29 58,623,448.29
in relation to affiliated transactions (Note(II)A)
Operating turnover 36,404,563.76 13,407,663.42
Provision of agency expense for equity acquisition 14,294,130.57 5,814,869.44
Equity acquisition consideration due to Smartel 9,796,303.25 9,796,303.25
(Note(II)B)
Accrued expenses 6,155,443.08 5,324,678.58
Payments on behalf of other 2,411,323.50 2,399,936.13
Others 17,709,918.74 15,816,627.30
Total 223,786,745.63 189,575,140.85
(2) Explanation of huge amount other payables aging over 1 year:
At the end of the reporting period, huge amount other payable aging over 1 year includes:
A.The accrual amount of significant replacement and related transactions payment and involved
taxation is RMB 58,623,448.29 that should be paid by the Company after the report and
verification of the involved taxation.
B.The amount of the equity transfer of Smartel as RMB 9,796,303.25 shall be paid as the deposit
when the flaw issue of the property is settled.
(3) At the end of reporting period, except for (2), the large amount other payables of the Company
includes performance bonds receivable RMB 78,391,614.44 for non-public offering.
(4) Except for (2) and (3), at the end of reporting period, other payables of the Company mainly
include accrued expenses, payments on behalf of other parties and deposits, which are related to
daily operation.
- 156 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
22、Other non-current liabilities
RMB
Item 30 June 2016 31 December 2015
Government grants 5,500,000.00 5,500,000.00
Total 5,500,000.00 5,500,000.00
Projects of government grants:
RMB
Included in
Opening balance Addition non-operating Related to assets/
Item income Closing balance Related to income
Xincheng Hotel project funds 5,500,000.00 - - 5,500,000.00 Related to assets
Total 5,500,000.00 - - 5,500,000.00
23、Others comprehensive income
RMB
Movement
Less: previously Amount
recognized as other Attributable to
Item
comprehensive income and Deduction: shareholders of
31 December Amount before transferred to gain and loss income tax the parent the
2015 income tax in the current period expense after tax 30 June 2016
Other comprehensive income that will be
893,238,567.71 (174,595,879.59) 162,244,213.06
reclassified into gain and loss (84,210,023.16) (252,630,069.49) 640,608,498.22
Including: Fair value changes on
890,408,124.80 (174,595,879.59) 162,244,213.06
available-for-sale financial assets (84,210,023.16) (252,630,069.49) 637,778,055.31
Change under equity method in other
comprehensive income that will be 2,830,442.91 - - - - 2,830,442.91
reclassified into gain and loss
Total 893,238,567.71 (174,595,879.59) 162,244,213.06
(84,210,023.16) (252,630,069.49) 640,608,498.22
24、Operating income and operating costs
(1) Operating income and operating costs
RMB
Period from 1 January to 30 June 2016 Period from 1 January to 30 June 2015
Industry Income Costs Income Costs
Principal business 78,175,534.71 9,964,392.46 91,668,671.22 12,762,751.42
Others business 727,108.62 590,476.20 600,000.00 600,000.00
Total 78,902,643.33 10,554,868.66 92,268,671.22 13,362,751.42
(2) Principal businesses(by industries)
RMB
Period from 1 January to 30 June 2016 Period from 1 January to 30 June 2015
Industry Operating income Operating cost Operating income Operating cost
Limited service hotel operation and
management
Including: Room 62,840,487.25 - 72,090,380.09 -
Catering 5,191,508.68 3,926,028.67 7,029,430.70 4,913,688.87
Supplies 5,681,906.51 5,519,323.31 7,852,836.38 7,611,860.41
Others 4,461,632.27 519,040.48 4,696,024.05 237,202.14
Total 78,175,534.71 9,964,392.46 91,668,671.22 12,762,751.42
- 157 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
24、Operating income and operating costs - continued
(3) Top five clients contributed to the largest operating income
RMB
Proportion of the total
Name of client Operating income
operating income (%)
Beijing Three Fast Technology Co., Ltd. 3,070,085.31 3.89
Shanghai Yangpu Tang Palace Seafood Restaurant 1,122,246.89 1.42
Ctrip International Travel Agency(Shanghai) Co., Ltd. 897,415.00 1.14
Shanghai Shenpu Advertising & Decoration Co., Ltd. 590,476.20 0.75
Shanghai Jingyinghui Catering Co., Ltd 550,362.20 0.70
Total 6,230,585.60 7.90
25、Costs and expense by nature
RMB
Period from 1 Period from 1
Item January to January to
30 June 2016 30 June 2015
Cost of goods sold 9,964,392.46 12,388,694.56
Employee benefits payable 48,650,365.39 37,983,331.28
Including: Wages or salaries, bonus, allowance, subsidies 34,226,907.54 28,903,653.96
Social insurance 8,441,236.61 6,012,928.35
Housing fund 2,129,671.00 1,495,567.00
Welfare 2,095,688.33 728,456.25
Other expenditure 1,756,861.91 842,725.72
Utilities and material consumption 9,894,857.45 10,920,134.36
Depreciation and amortization 5,256,374.75 5,325,004.36
Rental of operating lease 18,679,254.33 17,750,298.82
Repair and maintenance expense 1,147,509.21 1,432,991.51
Property tax and other levies 5,652,623.40 337,414.77
Agency expense 18,423,359.96 54,329,470.89
Advertising expense 1,356,834.02 1,434,175.27
Others 24,720,310.28 24,644,112.95
Total of operating cost, selling expense and
administrative expense 143,745,881.25 166,545,628.77
26、Financial expenses
RMB
Period from 1 Period from 1
Item January to30 June January to30 June
2016 2015
Interest expenses 228,108,880.73 107,564,175.14
Less: Interest income 107,895,698.94 88,882,055.13
Foreign exchange difference (6,994,255.10) 697.43
Others 941,487.10 593,825.73
Total 114,160,413.79 19,276,643.17
- 158 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
27、Investment income
(1) Details of investment income are as follow
RMB
Period from 1 January Period from 1 January
Item to to
30 June 2016 30 June 2015
Investment income from long-term equity investments under
48,821,164.65 16,737,821.83
equity method of accounting
Investment income from long-term equity investments under cost
196,846,000.00 208,486,000.00
method of accounting
Investment income from available-for-sale financial assets 73,025,197.50 48,718,781.85
Gain on disposal of available-for-sale financial assets 206,426,728.39 160,287,582.12
Others 839,012.90 3,039,304.15
Total 525,958,103.44 437,269,489.95
(2) Investment income(loss) from long-term equity investments under equity method of accounting
RMB
Period from 1 January Period from 1 January
Investee Explanation to the movements
to30 June 2016 to30 June 2015
Profits increased due to the increase in
Shanghai Kentucky Fried Chicken Co., Ltd. 45,812,247.38 13,927,868.57
operating income
The profit for the current period is at par
Shanghai New Asia Fulihua Catering Co., Ltd. 2,879,467.78 2,679,541.46
with prior period
The profit for the current period is at par
Shanghai Xinlu Catering Development Co., Ltd. 129,449.49 130,411.80
with prior period
Total 48,821,164.65 16,737,821.83
(3) Investment income from long-term equity investments under cost method of accounting
RMB
Period from 1 Period from 1
Investee January to30 June January to30 June Explanation to the movements
2016 2015
Profit is less than that of prior period
Jin Jiang Inn 170,000,000.00 200,000,000.00
due to decrease in operating income
Profit is higher than that of prior
Metropolo Hotel 26,000,000.00 8,000,000.00 period due to increase in operating
income
Profit is higher than that of prior
Jinjiang Food 846,000.00 486,000.00 period due to increase in operating
income
Total 196,846,000.00 208,486,000.00
(4) Investment income from available-for-sale financial assets refers to Note (V) 43(3).
(5) Gain on disposal of available-for-sale financial assets refers to Note (V) 43(4).
- 159 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
28、Non-operating income
(1) Details of non-operating income are as follows:
RMB
Period from 1 Period from 1
January to30 June January to30 June
Item 2016 2015
Government grants 11,167,447.14 5,414,168.63
Others 209,898.75 179,934.45
Total 11,377,345.89 5,594,103.08
(2) Details of government grants are as follows:
RMB
Item Current period Prior period Related to assets/ Related to income
Industry support funds 11,167,447.14 5,414,168.63 Related to income
Total 11,167,447.14 5,414,168.63
29、Notes to items in the cash flow statement
(1) Other cash payments relating to investing activities
RMB
Period from 1 Period from 1
January to January to
Item 30 June 2016 30 June 2015
Payment to agency fee for combinations 8,007,520.10 69,136,075.13
Construction advances to related parties - 14,655,299.33
Down payment and prepayment for equity acquisition
(Note(XII)1) 680,000,000.00 -
Estimated consideration for equity acquisition to be
recovered(Note(VI)1) 473,750,000.00 -
Total 1,161,757,520.10 83,791,374.46
(2) Other cash receipts relating to financing activities
RMB
Period from 1 Period from 1
January to January to
Item 30 June 2016 30 June 2015
Interest income arising from pledged term deposit for
obtaining borrowings 19,364,837.12 35,592,676.74
Total 19,364,837.12 35,592,676.74
- 160 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
30、Supplementary information to the cash flow statement
(1) Supplementary information to the cash flow statement
RMB
Period from 1 January Period from 1 January
to to
Supplementary information 30 June 2016 30 June 2015
1.Reconciliation of net profit to cash flow from operating
activities:
Net profit 344,179,859.49 325,616,980.19
Add: Provision for asset impairment 21,186.48 -
Depreciation of fixed assets 3,319,084.50 3,040,203.05
Amortization of intangible assets 1,175,095.57 1,250,202.90
Amortization of long-term prepaid expenses 762,194.68 1,034,598.41
Loss on disposal of fixed assets, intangible assets and other
long-term assets 10,468.29 (150,480.03)
Financial expenses 137,667,047.48 50,489,256.92
Losses(gains) arising from investments (525,958,103.44) (437,269,489.95)
Decrease(increase) in deferred tax assets (1,426,500.22) 421,649.39
Decrease(increase) in Inventory (Less: gain) 1,887,137.42 (611,563.03)
Decrease (increase) in operating receivables (26,142,497.97) (23,800,598.13)
Increase (decrease) in operating payables (27,784,311.90) 3,589,600.91
Net cash flow from operating activities (92,289,339.62) (76,389,639.37)
2.Significant investing and financing activities that do not involve
cash receipts and payments
Fixed assets for finance lease - -
3.Net changes in cash and cash equivalents:
Cash at end of period 3,127,468,324.66 2,128,514,458.15
Less: Cash at beginning of period 2,289,364,648.62 2,842,897,015.27
Add: Cash equivalents at end of period - -
Less: Cash equivalents at beginning of period - -
Net increase(decrease) in cash and cash equivalents 838,103,676.04 (714,382,557.12)
(2) Cash and cash equivalents
RMB
Item 30 June 2016 31 December 2015
I. Cash 3,127,468,324.66 2,289,364,648.62
Including: Cash on hand 209,929.98 285,568.20
Bank deposits that can be readily withdrawn 3,127,258,394.68 2,289,079,080.42
II. Cash equivalents - -
III. Closing balance of cash and cash equivalents 3,127,468,324.66 2,289,364,648.62
31、Related party relationships and transactions
(1) Basic information of subsidiaries and associates of the Company refers to Note (VII). Information of
other related parties refers to Note(X).
(2) Purchase and sales of goods, rendering and receiving of service
RMB
Period from 1 January to Period from 1 January to
Related parties Transactions 30 June 2016 30 June 2015
Jin Jiang Inn Purchase of commodities 2,219,219.60 224,135.62
Food company Purchase of food 8,657.18 -
Shanghai Jin Jiang International
Hotel Commodities Co., Ltd. Purchase of hotel commodities 2,839.20 340,658.40
Sub-total 2,230,715.98 564,794.02
- 161 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
31、Related party relationships and transactions - continued
(3) Lease arrangement
The Company as lessor:
RMB
Rental income for the Rental income for the last
Lessee Asset for leasehold current period period
Logistics Center, Gonghexin branch
Jinya Catering 780,180.18 897,900.00
and Dafang branch
Minhang Hotel Houses for leasehold 146,928.44 -
Shanghai Jin Jiang Advertising
Advertising board - 283,332.60
Co.,Ltd
Sub-total 927,108.62 1,181,232.60
The Company as lessee:
RMB
Rental income for the Rental income for the
Lesser Asset for leasehold current period last period
Jinshajiang Hotel Co., Ltd. (Note) Operation area 5,038,607.22 5,292,000.00
Shanghai Hua Ting Guest House
Operation area 4,284,000.00
Co., Ltd. (Note) 4,089,584.90
Shanghai MAGNOTEL Hotel Co.,
Operation area 4,452,000.00
Ltd. (Note) 4,017,495.30
Jinjiang International Office area and operation area 1,230,777.13 1,382,916.00
Shanghai East Jin Jiang Hotel
Office area 387,996.00
Co., Ltd. 299,789.00
Shanghai Jin Jiang property
Office area 62,838.00
management Co., Ltd. 48,512.00
Sub-total 14,724,765.55 15,861,750.00
Note: The Company signed "lease contract" with Shanghai Hua Ting Guest House Co., Ltd , Jinshajiang
Hotel Co., Ltd. and Shanghai MAGNOTEL Hotel Co., Ltd. respectively (refer to Note X (5)3).
(4) Entrusted Operation and Lease of related parties
The Company signed the "entrusted operation contract" with Jin Jiang Hotels Group and its subsidiary-
Marvel Hotel Shanghai. For details, please refer to Note X (5)3.
- 162 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
31、Related party relationships and transactions - continued
(5) Loans to and from related parties
Transactions for the period and balance as at 30 June 2016:
RMB
Related party Amount of Inception date Maturity Date Remarks
borrowings/loans
Borrowed from:
Finance Company 100,000,000.00 20 October 2015 19 October 2016 Credit borrowings
Finance Company 400,000,000.00 21 December 2015 20 December 2016 Credit borrowings
Finance Company 200,000,000.00 21 December 2015 20 December 2016 Credit borrowings
Finance Company 200,000,000.00 18 February 2016 17 February 2017 Credit borrowings
Finance Company 100,000,000.00 4 August 2015 29 April 2016 Credit borrowings
Finance Company 100,000,000.00 20 October 2015 29 April 2016 Credit borrowings
Finance Company 400,000,000.00 19 January 2016 19 January 2016 Credit borrowings
Finance Company 200,000,000.00 19 January 2016 19 January 2016 Credit borrowings
Finance Company 200,000,000.00 19 January 2016 19 January 2016 Credit borrowings
Finance Company 100,000,000.00 19 January 2016 19 January 2016 Credit borrowings
Finance Company 400,000,000.00 20 January 2016 20 January 2016 Credit borrowings
Finance Company 100,000,000.00 20 January 2016 20 January 2016 Credit borrowings
Finance Company 400,000,000.00 21 January 2016 21 January 2016 Credit borrowings
Finance Company 200,000,000.00 21 January 2016 21 January 2016 Credit borrowings
Finance Company 200,000,000.00 21 January 2016 21 January 2016 Credit borrowings
Finance Company 100,000,000.00 21 January 2016 21 January 2016 Credit borrowings
Finance Company 180,000,000.00 26 January 2016 26 January 2016 Credit borrowings
Finance Company 400,000,000.00 26 January 2016 26 January 2016 Credit borrowings
Finance Company 200,000,000.00 26 January 2016 26 January 2016 Credit borrowings
Finance Company 100,000,000.00 18 February 2016 3 May 2016 Credit borrowings
Finance Company 120,000,000.00 29 April 2016 29 April 2016 Credit borrowings
Finance Company 200,000,000.00 29 April 2016 29 April 2016 Credit borrowings
Finance Company 200,000,000.00 29 April 2016 29 April 2016 Credit borrowings
Finance Company 100,000,000.00 29 April 2016 29 April 2016 Credit borrowings
Finance Company 400,000,000.00 3 May 2016 3 May 2016 Credit borrowings
Finance Company 100,000,000.00 3 May 2016 3 May 2016 Credit borrowings
Finance Company 400,000,000.00 27 June 2016 27 June 2016 Credit borrowings
Finance Company 200,000,000.00 27 June 2016 27 June 2016 Credit borrowings
Finance Company 200,000,000.00 27 June 2016 27 June 2016 Credit borrowings
Finance Company 100,000,000.00 27 June 2016 27 June 2016 Credit borrowings
Metropole Hotel 47,000,000.00 18 June 2015 17 June 2016 Entrusted borrowings
Metropole Hotel 50,000,000.00 17 June 2016 16 June 2017 Entrusted borrowings
Subtotal 6,397,000,000.00
- 163 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
31、Related party relationships and transactions - continued
(5) Loans to and from related parties- continued
RMB
Related party Amount of Inception date Maturity Date Remarks
borrowings/loans
Lending to
Jinya Catering 3,000,000.00 13 April 2015 12 April 2016 Entrusted loans
Jinya Catering 2,000,000.00 12 May 2015 12 April 2016 Entrusted loans
Jinya Catering 2,000,000.00 13 July 2015 12 July 2016 Entrusted loans
Jinya Catering 1,000,000.00 12 October 2015 12 July 2016 Entrusted loans
Jinya Catering 1,500,000.00 17 November 2015 12 July 2016 Entrusted loans
Jinya Catering 4,000,000.00 27 January 2016 26 January 2017 Entrusted loans
Jinya Catering 5,000,000.00 12 April 2016 11 April 2017 Entrusted loans
Jinya Catering 3,000,000.00 11 May 2016 10 May 2017 Entrusted loans
Jinya Catering 500,000.00 13 July 2015 12 July 2016 Entrusted loans
New Asia Food 1,000,000.00 26 January 2016 26 January 2017 Entrusted loans
Jin Jiang Inn 40,000,000.00 17 July 2013 20 January 2016 Entrusted loans
Jin Jiang Inn 50,000,000.00 17 July 2013 9 March 2016 Entrusted loans
Jin Jiang Inn 10,000,000.00 17 July 2013 11 April 2016 Entrusted loans
Jin Jiang Inn 100,000,000.00 18 July 2013 6 June 2016 Entrusted loans
Subtotal 223,000,000.00
Interest expense and income between the Company and the related parties are as follows:
RMB
Period from 1 January to Period from 1 January
Item 30 June 2016 to 31 December 2015
Interest expenses 18,517,560.36 53,613,554.00
The Company deposited some settlement cash or idle cash in Finance Company. The closing balance and
transactions were as below:
RMB
Finance Company 30 June 2016 31 December 2015
Closing balance 999,107,298.77 433,839,801.31
RMB
Period from 1 January Period from 1 January
Finance Company to 30 June 2016 to 31 December 2015
Accumulated deposits at Finance Company for the period 2,511,339,004.39 16,501,465,609.46
Accumulated deposits withdrawn from Finance
Company for the period 1,946,071,506.93 16,803,555,913.52
Interest income 3,929,547.34 5,370,037.02
(6) There was no assets transfer and debt restructure with related parties for this reporting period.
(7) Pursuant to the shareholder agreement signed and executed by and between the Company and minority
shareholders of Keystone，minority shareholders of Keystone can sell to the Company all or part of
shares they held at a price calculated in a certain method in the future (“Right of Mandatory Sale”). In
March 2016, the Company made an agreement with the minority shareholders of Keystone that Jin
Jiang International and other related parties will purchase shares they held at sale.
(8) No other transactions between the Company and related parties during the reporting period.
- 164 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
31、Related party relationships and transactions - continued
(9) Accounts receivable and payable with related parties
i) Accounts receivable
RMB
Item Related parties 30 June 2016 31 December 2015
Book balance Bad debt Book balance Bad debt
provision provision
Jin Jiang International and
Accounts receivable 1,241,473.13 - 820,469.81 -
subsidiaries
Subtotal 1,241,473.13 - 820,469.81 -
Others receivables Smartel 50,000,000.00 - 50,000,000.00 -
Others receivables Da Hua Hotel 47,595,022.50 - 47,583,458.80 -
Others receivables Minhang Hotel 30,449,295.35 - 30,449,295.35 -
Others receivables Jin Jiang Metropolo 6,948,628.93 - 6,036,078.53 -
Food and Beverage Serving
Others receivables 3,278,337.51 - 3,278,337.51 -
Equipment
Others receivables Jin Jiang Inn 5,450,653.11 - 2,890,232.82 -
Others receivables Jin Pan Hotel 1,369,807.71 - 1,369,807.71 -
Others receivables Jinya Catering 1,200,000.00 - 1,000,000.00 -
Others receivables Hotels Investment 302,955.33 - - -
Others receivables Catering Investment 29,088.33 - - -
Jin Jiang International and
Others receivables 42,505.70 - - -
subsidiaries
Jin Jiang Hotels Group and
Others receivables 7,476.20 - 1,433,080.32 -
subsidiaries
Subtotal 146,673,770.67 - 144,040,291.04 -
Interest receivable Finance Company 7,480,000.00 - 5,080,000.00 -
Interest receivable Jin Jiang Inn - - 73,333.33 -
Interest receivable Jinya Catering 15,841.25 - 10,302.88 -
Interest receivable New Asia Food 966.66 - - -
Interest receivable Jinzhu Catering 471.25 - 518.38 -
Subtotal 7,497,279.16 - 5,164,154.59 -
Other current assets New Asia Food 1,000,000.00 - - -
Other current assets Jinya Catering 16,500,000.00 - 9,500,000.00 -
Other current assets Jinzhu Catering 500,000.00 - 500,000.00 -
Subtotal 18,000,000.00 - 10,000,000.00 -
Non-current assets - -
Jin Jiang Inn - 200,000,000.00
due within one year
Subtotal - - 200,000,000.00 -
Long-ter receivables New Asia Food 10,328,000.00 - 10,328,000.00 -
Subtotal 10,328,000.00 - 10,328,000.00 -
- 165 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
31、Related party relationships and transactions - continued
(9) Accounts receivable and payable with related parties - continued
ii) Accounts payable
RMB
Item Related parties 30 June 2016 31 December 2015
Accounts payable Jin Jiang International and subsidiaries 5,726,549.04 4,489,755.27
Accounts payable Jin Jiang Hotels Group and subsidiaries - 48,807.54
Subtotal 5,726,549.04 4,538,562.81
Other payables Jin Jiang Inn 32,506,405.64 10,758,364.85
Other payables Hotesl investment 3,898,158.12 2,649,298.57
Other payables Jinya Catering - 1,008.00
Other payables New Asia Food 15,876.21 -
Other payables Jin Jiang Hotels Group and subsidiaries 26,154.90 414,027.82
Other payables Jin Jiang International and subsidiaries 200,981.65 106,448.21
Other payables Jin Jiang Metropolo 253,231.91 221,292.13
Other payables Food and Beverage Serving Equipment 441,291.63 428,887.63
Other payables Minhang Hotel 18,775.80 -
Other payables Dahua Hotel 203,678.74 -
Subtotal 37,564,554.60 14,579,327.21
Interest payable Finance Company 345,110.66 938,512.66
Interest payable Jin Jiang Metropolo 42,500.00 51,700.00
Subtotal 387,610.66 990,212.66
*** End of Financial Statements ***
- 166 -
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
1、BREAKDOWN OF NON-RECURRING PROFIT OR LOSS FOR THE PERIOD
RMB
Period from 1 January Period from 1 January
Item to 30 June 2016 to 30 June 2015
Profit (loss) on disposal of non-current assets 6,976,911.56 (1,136,015.37)
Tax refunds or reductions or exemptions with ultra vires approval or without official
- -
approval documents
Government grant recognized in profit or loss (other than grants which are closely
related to the enterprise's business and are either in fixed amounts or determined 31,026,515.03 22,624,728.76
under quantitative methods in accordance with the national standard)
Income earned from lending funds to non-financial institutions and recognized in
- -
profit or loss
The excess of attributable fair value of identifiable net assets over the consideration
- -
paid for the acquisition of subsidiaries, associates and joint ventures
Profit or loss on exchange of non-monetary assets - -
Profit or loss on entrusted investments or assets management - -
Impairment losses on assets due to force majeure events, e.g. natural disasters - -
Profit or loss on debt restructuring - -
Entity restructuring expenses, e.g., expenditure for layoff of employees, integration
- -
expenses, etc.
Profit or loss attributable to the evidently unfair portion of transaction price, being
- -
transacted price in excess of fair transaction price of a transaction
Net profit or loss of subsidiaries from the beginning of the period up to the business
combination date recognized as a result of business combination of enterprises - -
under common control
Profit or loss arising from contingencies other than those related to normal
- -
operating business
Profit or loss on changes in the fair value of financial assets at fair value through
profit or loss and held-for-trading financial liabilities, and investment income on
disposal of financial assets at fair value through profit or loss, held-for-trading 206,373,718.01 160,635,323.08
financial liabilities and available-for-sale financial assets, other than those used in
the effective hedging activities relating to normal operating business
Reversal of provision for accounts receivable that are tested for impairment losses
- -
individually
Profit or loss on entrusted loans - -
Profit or loss on changes in the fair value of investment properties that are
- -
subsequently measured using the fair value model
Effects on profit or loss of one-off adjustment to profit or loss for the period
- -
according to the requirements of tax laws and accounting laws and regulations
Custodian fees earned from entrusted operation - -
Other non-operating income or expenses other than the above items 22,040,481.29 3,141,368.52
Other profit or loss that meets the definition of non-recurring profit or loss - -
Tax effects (68,946,410.81) (46,486,254.60)
Effects attributable to minority interests (after tax) (941.94) 446.59
Total 197,470,273.14 138,779,596.98
Preparation basis of the breakdown of non-recurring profit or loss
According to "Explanatory Notice No. 1 of Information Disclosure for Public Offering Securities – Non-recurring
Profit and Loss [2008]" issued by China Securities Regulatory Commission, Non-recurring profit or loss is arising
from the transactions or events that is not directly related to daily operations, or the transactions or events
associated with normal operations but may affect the investors’ proper judgments on the performance and
profitability of the Company for because special and incidental nature.
167
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
2、RETURN ON NET ASSETS AND EARNINGS PER SHARE ("EPS")
The return rate on net assets and EPS have been prepared by Shanghai Jinjiang International Hotels Development
Co., Ltd ("JJ ") in accordance with Information Disclosure and Presentation Rules for Companies Making Public
Offering of Securities No. 9 – Calculation and Disclosure of Return on Net Assets and Earnings per Share (Revised
2012) issued by China Securities Regulatory Commission.
RMB
Weighted Earnings per share
average return
rate on net Weighted average Diluted EPS
Profit for the reporting period assets net assets Basic EPS (Note)
(%) (RMB)
Net profit attributable to ordinary equity holders of the Company 3.72 8,043,645,145.60 0.3718 N/A
Net profit attributable to ordinary equity holders
of the Company after deducting non-recurring 1.26 8,043,645,145.60 0.1264 N/A
profit and loss
Note: The Company has no diluted potential ordinary shareholders.
168
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
3、Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
The Company prepared accompanying summarized financial statements and room services statement of segments
of limited service hotels for the purpose to make it user-friendly for the financial statements users to read and
compare figures in the movements of assets and liabilities on 30 June 2016 and 31 December 2015, and the
operating results, cash flows and segments room services of limited service hotels for the period from 1 January
2016 to 30 June 2016 and 1 January 2015 to 30 June 2015. The summarized financial statements and room services
statement of segments of limited service hotels dose not offset the balances of transactions between business
segments of limited service hotels and other business segments of the Company and the following statements are
only for reference to the financial statement users.
Summarized Balance Sheet of Segments of Limited Service Hotels
RMB
ITEM 30 June 2016 31 December 2015 Items 30 June 2016 31 December 2015
Current Assets: Current liabilities:
Cash and bank balances 2,939,985,820.97 1,553,043,349.87 Short-term borrowings 2,477,409,189.73 609,091,457.30
Derivative financial assets - - Derivative financial liabilities 7,731,861.50 6,360,052.14
Notes receivable - - Notes payable - -
Accounts receivable 580,675,984.98 421,427,450.39 Accounts payable 1,534,712,954.17 894,261,128.32
Advance from suppliers 278,097,204.17 60,766,765.96 Receipts in advance 519,492,032.42 188,145,473.34
Interest receivable 890,116.66 1,022,377.35 Employee benefits payable 436,508,859.83 311,837,706.31
Dividends receivable 640,592.50 614,905.51 Taxes payable 269,495,134.54 162,628,534.86
Other receivables 380,589,976.86 155,309,656.38 Interest payable 17,470,955.51 14,214,950.42
Inventories 66,894,937.89 45,008,489.43 Dividends payable 170,020,970.81 193,587.35
Non-current liabilities due within one
1,724,154.35 1,640,003.54 Other payables 781,137,450.53 343,954,057.53
year
Other current assets 261,464,071.46 209,367,618.94 Non-current liabilities due within one year 2,873,595,035.92 221,093,804.60
Total current assets 4,510,962,859.84 2,448,200,617.37 Other current liabilities - -
Total current liabilities 9,087,574,444.96 2,751,780,752.17
Non-current assets: Non-current liabilities:
Available-for-sale financial assets 430,871,462.85 2,974,903.40 Long-term borrowings 6,815,318,710.19 9,313,179,348.27
Held-to-maturity investments - - Long-term payables 153,001,519.50 152,063,990.30
Long-term receivables - - Long-term employee benefits 175,505,537.38 161,863,492.93
Long-term equity investments 121,203,023.02 82,373,390.50 Provisions 21,847,270.48 58,341,294.70
Investment properties - - Deferred tax liabilities 2,194,242,993.70 1,182,273,461.73
Fixed assets 6,709,046,645.40 6,488,490,261.16 Other non-current liabilities 146,219,356.34 79,356,841.02
Construction in progress 696,102,198.57 674,948,908.96 Non-current liabilities 9,506,135,387.59 10,947,078,428.95
Materials for construction of fixed assets - - Total liabilities 18,593,709,832.55 13,698,859,181.12
Disposal of fixed assets - - Shareholders' Equity:
Bearer biological assets - - Share capital 2,749,103,922.55 2,749,103,922.55
Oil and gas assets - - Capital reserve 744,285,703.53 744,285,703.53
Intangible assets 6,556,111,892.95 2,444,659,431.17 Other comprehensive income 22,745,478.36 15,233,578.45
Development expenditure - Surplus reserve 110,630,561.03 110,630,561.03
Goodwill 10,169,998,341.56 4,216,472,381.61 Retained profits 584,999,865.64 614,585,816.80
Long-term prepaid expenses 2,617,483,929.67 1,528,087,224.76 Capital allocated from the Company 8,392,984,147.19 258,786,497.42
Total owners' equity attributable to segments of limited service
Deferred tax assets 501,363,905.90 400,497,318.29 12,604,749,678.30 4,492,626,079.78
hotels
Other non-current assets 125,329,740.09 94,722,992.83 Minority interests 1,240,014,489.00 189,942,169.15
Total non-current assets 27,927,511,140.01 15,933,226,812.68 TOTAL SHAREHOLDERS' EQUITY 13,844,764,167.30 4,682,568,248.93
TOTAL ASSETS 32,438,473,999.85 18,381,427,430.05 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 32,438,473,999.85 18,381,427,430.05
169
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
3、Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels -
continued
Summarized Income Statement of Segments of Limited Service Hotels
RMB
Period from 1 Period from 1
ITEM January to January to
30 June 2016 30 June 2015
I. Total operating income 4,247,333,545.83 2,364,772,253.37
Self-owned and rented hotels 3,456,018,952.02 1,956,531,062.87
Franchised and managed hotels 791,314,593.81 408,241,190.50
Total operating income 4,247,333,545.83 2,364,772,253.37
Less: Business taxes and levies 78,612,621.84 66,106,383.48
Net operating income 4,168,720,923.99 2,298,665,869.89
Operating costs and expenses:
Costs for Self-owned and rented hotels
Rental 621,598,207.41 284,844,920.15
Energy 268,182,518.10 91,447,877.73
Labor cost 902,870,596.38 492,285,934.61
Depreciation 283,238,691.94 196,946,348.27
Amortization 277,191,154.04 108,403,823.52
Consumptions, food and beverage 196,520,473.85 131,935,754.80
Others 665,456,442.60 388,865,224.77
Total costs for self-owned and rented hotels 3,215,058,084.32 1,694,729,883.85
Sales and marketing expenses 102,022,429.16 81,738,682.79
Labor cost for management of franchised hotels 27,018,678.90 24,272,549.67
General administrative and management expenses 534,480,546.05 232,982,514.45
Start-up expenses 8,640,545.22 6,758,899.86
Total operating costs and expenses 3,887,220,283.65 2,040,482,530.62
II. Operating profit 281,500,640.34 258,183,339.27
Interest income 7,807,830.74 9,142,535.55
Interest expenses 111,936,969.88 69,247,075.01
Other non-operating income 65,302,444.82 29,257,803.15
Other non-operating expenses 13,220,494.11 2,283,035.05
III. Total profit 229,453,451.91 225,053,567.91
Income tax expenses 92,754,722.69 79,239,481.59
IV. Net profit 136,698,729.22 145,814,086.32
Less: Minority interests 4,909,829.90 3,944,321.78
Net profit attributable to segments of limited service hotels 131,788,899.32 141,869,764.54
170
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
3、Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels -
continued
Summarized Cash Flow Statement of Segments of Limited Service Hotels
RMB
Period from 1 January to Period from 1 January to
ITEM
30 June 2016 30 June 2015
I. Cash Flows from Operating Activities:
Cash receipts from the sale of goods and the rendering 4,319,707,031.13 2,288,612,081.21
of services
Receipts of tax refunds 15,952,197.30 -
Other cash receipts relating to operating activities 28,213,153.86 45,387,951.01
Sub-total of cash inflows from operating activities 4,363,872,382.29 2,334,000,032.22
Cash payments for goods purchased and 943,718,802.54 540,368,604.88
services received
Cash payments to and on behalf of employees 1,258,248,081.80 665,814,789.58
Payments of various types of taxes 268,756,209.82 174,689,878.62
Other cash payments relating to operating activities 1,025,864,132.50 491,472,548.72
Sub-total of cash outflows from operating activities 3,496,587,226.66 1,872,345,821.80
Net Cash Flow from Operating Activities 867,285,155.63 461,654,210.42
II. Cash Flows from Investing Activities:
Cash receipts from disposals and recovery
60,983,718.70 234,380,244.72
of investments
Cash receipts from investment income 4,242,857.82 11,611,916.08
Net cash receipts from disposals of fixed assets,
8,790,807.52 833,667.27
intangible assets and other long-term assets
Net cash receipts from disposals of subsidiaries
- 527,063,409.16
and other business units
Other cash receipts relating to investing activities - 17,142,936.10
Sub-total of cash inflows from investing activities 74,017,384.04 791,032,173.33
Cash payments for acquisitions of subsidiaries and
138,888,388.73 2,956,867,734.47
other business units
Cash payments to acquire or construct fixed assets,
410,450,314.22 273,814,527.21
intangible assets and other long-term assets
Cash payments to acquire investments 54,375,457.62 47,098,879.25
Other cash payments relating to investing activities 27,689,331.20 47,409,767.14
Sub-total of cash outflows from investing activities 631,403,491.77 3,325,190,908.07
Net Cash Flow from Investing Activities (557,386,107.73) (2,534,158,734.74)
III. Cash Flows from Financing Activities
Cash receipts from capital contributions 22,538,570.00 649,000,000.00
Including: cash receipts from capital contributions
22,538,570.00 -
from minority owners of subsidiaries
Cash receipts from borrowings 1,200,000,000.00 18,611,718,832.86
Other cash receipts relating to financing activities 131,146,460.95 60,206,093.76
Sub-total of cash inflows from financing activities 1,353,685,030.95 19,320,924,926.62
Cash repayments of borrowings 1,412,341,287.62 16,220,261,032.85
Cash payments for distribution of dividends or profits
130,811,216.56 92,010,504.26
or settlement of interest expenses
Including: payments for distribution of dividends or
236,043.43 10,480,767.45
profits to minority owners of subsidiaries
Other cash payments relating to financing activities 47,891,718.93 416,548,860.48
Sub-total of cash outflows from financing activities 1,591,044,223.11 16,728,820,397.59
Net Cash Flow from Financing Activities (237,359,192.16) 2,592,104,529.03
IV. Effect of Foreign Exchange Rate Changes on Cash
30,054,183.36 76,178,817.34
and Cash Equivalents
V. Net Increase in Cash and Cash Equivalents 102,594,039.10 595,778,822.05
Add: Opening balance of Cash and Cash Equivalents 2,832,704,093.93 717,373,079.65
VI. Closing Balance of Cash and Cash Equivalents 2,935,298,133.03 1,313,151,901.70
171
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
3、Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels -
continued
EBITDA Statement of Segments of Limited Service Hotels
RMB
Period from 1 January to Period from 1 January to
ITEM
30 June 2016 30 June 2015
Net profit attributable to segments of limited service hotels 131,788,899.32 141,869,764.54
Interest income 7,807,830.74 9,142,535.55
Interest expenses 111,936,969.88 69,247,075.01
Income tax expenses 92,754,722.69 79,239,481.59
Depreciation 286,547,481.66 196,946,348.27
Amortization 281,232,205.65 108,403,823.52
EBITDA 896,452,448.46 586,563,957.38
Share of operating income for EBITDA (%) 21.11 24.80
Exchange gains or losses (83,226.72) 449,834.86
Start-up expenses 8,640,545.22 6,758,899.86
Adjusted EBITDA 905,176,220.40 592,873,022.38
Adjusted share of operating income for EBITDA (%) 21.31 25.07
Costs and Expenses of Segments Operation of Limited Service Hotels
RMB
Period from 1 January to Period from 1 January to
30 June 2016 30 June 2015
ITEM Amount Share of Amount Share of
operating operating
income (%) income (%)
Operating income 4,247,333,545.83 100.00 2,364,772,253.37 100.00
Hotels operating costs 3,215,058,084.32 75.70 1,694,729,883.85 71.67
Sales and marketing expenses 102,022,429.16 2.40 81,738,682.79 3.46
Labor cost for management of franchised hotels 27,018,678.90 0.64 24,272,549.67 1.03
General administrative and management expenses 534,480,546.05 12.58 232,982,514.45 9.85
Start-up expenses 8,640,545.22 0.20 6,758,899.86 0.29
Total operating costs and expenses 3,887,220,283.65 91.52 2,040,482,530.62 86.30
172
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
3、Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels -
continued
Hotel operating data of Jin Jiang Metropolo、JJ-inn、JinGuang、Bestay Hotel express（Quarter II）
Until 2015/06/30 Until 2016/03/31 Until 2016/06/30
Total hotels in operation:
Leased-and-operated hotels 272 278 282
Franchised-and-managed hotels 750 806 820
In total 1,022 1,084 1,102
Total hotel rooms in operation:
Leased-and-operated hotels 37,340 38,218 38,885
Franchised-and-managed hotels 84,551 90,690 92,037
In total 121,891 128,908 130,922
Total hotels including pre-opening:
Leased-and-operated hotels 305 309 309
Franchised-and-managed hotels 953 1,030 1,058
In total 1,258 1,339 1,367
Total rooms including pre-opening:
Leased-and-operated hotels 42,303 42,989 43,018
Franchised-and-managed hotels 105,804 113,438 115,888
In total 148,107 156,427 158,906
Apr to Jun 2015 Jan to Mar 2016 Apr to Jun 2016
Occupancy rate (as a percentage)
Leased-and-operated hotels 77.97 69.98 77.49
Franchised-and-managed hotels 80.05 70.39 78.05
Total hotels in operation 79.40 70.27 77.88
Average daily room rate (in RMB)
Leased-and-operated hotels 194.73 188.55 193.05
Franchised-and-managed hotels 179.16 177.58 183.57
Total hotels in operation 183.94 180.86 186.43
RevPAR (in RMB/room)
Leased-and-operated hotels 151.83 131.95 149.59
Franchised-and-managed hotels 143.42 125.00 143.28
Total hotels in operation 146.05 127.09 145.19
173
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
3、Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels -
continued
Hotel operating data of Lavande、James Joyce Coffetel、IU、Seven Days Inn、π（Quarter II）
Until 2016/03/31 Until 2016/06/30
Total hotels in operation:
Leased-and-operated hotels 481 482
Franchised-and-managed hotels 2,274 2,312
In total 2,755 2,794
Total hotel rooms in operation:
Leased-and-operated hotels 50,024 49,884
Franchised-and-managed hotels 191,253 191,648
In total 241,277 241,532
Total hotels including
pre-opening:
Leased-and-operated hotels 484 492
Franchised-and-managed hotels 3,128 3,191
In total 3,612 3,683
Total rooms including
pre-opening:
Leased-and-operated hotels 50,456 50,830
Franchised-and-managed hotels 257,553 261,243
In total 308,009 312,073
Mar,2016 Apr to Jun 2016
Occupancy rate (as a percentage)
Leased-and-operated hotels 77.47 87.35
Franchised-and-managed hotels 75.54 82.83
Total hotels in operation 75.70 83.80
Average daily room rate (in EUR)
Leased-and-operated hotels 159.24 143.82
Franchised-and-managed hotels 152.22 148.71
Total hotels in operation 153.71 147.62
RevPAR (in EUR/room)
Leased-and-operated hotels 123.36 125.63
Franchised-and-managed hotels 114.99 123.18
Total hotels in operation 116.36 123.71
174
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016
3、Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels -
continued
Hotel operating data of Première Classe、Campanile、Kyriad、Golden Tulip(Quarter II)
Until 2015/06/30 Until 2016/03/31 Until 2016/06/30
Total hotels in operation:
Leased-and-operated hotels 253 281 280
Franchised-and-managed 878 895 903
hotels
In total 1,131 1,176 1,183
Total hotel rooms in operation:
Leased-and-operated hotels 19,085 21,393 21,322
Franchised-and-managed 74,546 77,182 77,961
hotels
In total 93,631 98,575 99,283
Total hotels including
pre-opening:
Leased-and-operated hotels 253 283 282
Franchised-and-managed 924 952 960
hotels
In total 1,177 1,235 1,242
Total rooms including
pre-opening:
Leased-and-operated hotels 19,085 21,669 21,598
Franchised-and-managed 82,236 85,942 86,744
hotels
In total 101,321 107,611 108,342
Apr to Jun 2015 Jan to Mar 2016 Apr to Jun 2016
Occupancy rate (as a percentage)
Leased-and-operated hotels 74.05 58.99 72.77
Franchised-and-managed hotels 62.03 53.13 61.16
Total hotels in operation 64.52 54.60 63.92
Average daily room rate (in EUR)
Leased-and-operated hotels 54.59 52.05 56.20
Franchised-and-managed hotels 62.93 58.92 60.63
Total hotels in operation 60.94 57.05 59.43
RevPAR (in EUR/room)
Leased-and-operated hotels 40.42 30.70 40.90
Franchised-and-managed hotels 39.04 31.30 37.08
Total hotels in operation 39.32 31.15 37.99
175
