上工申贝(集团)股份有限公司

    600843

    900924

    2009 年半年度报告上工申贝(集团)股份有限公司 2009 年半年度报告

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    目录

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

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

    三、股本变动及股东情况..................................................... 4

    四、董事、监事和高级管理人员情况........................................... 6

    五、董事会报告............................................................. 6

    六、重要事项.............................................................. 10

    七、财务报告（未经审计） .................................................. 15

    八、备查文件目录.......................................................... 75上工申贝(集团)股份有限公司 2009 年半年度报告

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    一、重要提示

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

    任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个

    别及连带责任。

    (二) 公司全体董事出席董事会会议。

    (三) 公司半年度财务报告未经审计。

    (四) 本公司不存在被控股股东及其关联方非经营性占用资金情况。

    (五) 本公司不存在违反规定决策程序对外提供担保的情况。

    (六) 公司董事长兼CEO 张敏先生、总经理马民良先生及会计机构负责人孟祥云女士声明：

    保证本半年度报告中财务报告的真实、完整。

    二、公司基本情况

    (一) 公司基本情况简介

    1、 公司法定中文名称：上工申贝(集团)股份有限公司

    公司法定中文名称缩写：上工申贝

    公司英文名称：SGSB GROUP CO.,LTD.

    公司英文名称缩写：SGSB

    2、 公司A 股上市交易所：上海证券交易所

    公司A 股简称：上工申贝

    公司A 股代码：600843

    公司B 股上市交易所：上海证券交易所

    公司B 股简称：上工B 股

    公司B 股代码：900924

    3、 公司注册地址：上海市浦东新区罗山路1201 号

    公司办公地址：上海市浦东新区世纪大道1500 号东方大厦12 楼

    邮政编码：200122

    公司国际互联网网址：http://www.sgsbgroup.com

    公司电子信箱：sgsb@sgsbgroup.com

    4、 法定代表人：张敏

    5、 公司董事会秘书： 张一枫

    电话： 021-68407515

    传真： 021-63302939

    E-mail：zyf@sgsbgroup.com

    联系地址： 上海市浦东新区世纪大道1500 号东方大厦12 楼

    公司证券事务代表：周勇强

    电话：021-68407700-728

    传真：63302939

    E-mail：zyq@sgsbgroup.com

    联系地址：上海市浦东新区世纪大道1500 号东方大厦12 楼

    6、 公司信息披露报纸名称：《上海证券报》、香港《商报》

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

    公司半年度报告备置地点：公司办公室

    7、 公司其他基本情况：

    (1)公司首次注册登记日期：1993 年12 月16 日

    最近一次变更注册登记日期：2005 年2 月7 日上工申贝(集团)股份有限公司 2009 年半年度报告

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    注册登记地点：上海市工商行政管理局

    (2)企业法人营业执照注册号：310000400080303（市局）

    (3)公司税务登记号码：国地税沪字310115132210544

    (4)公司组织机构代码：13221054-4

    (5)公司聘请的会计师事务所：立信会计师事务所有限公司

    办公地址：上海市南京东路61 号4 楼

    (6)法律顾问:上海市震旦律师事务所

    办公地址:上海市四川北路1688 号16 楼

    (二) 主要财务数据和指标

    1、主要会计数据和财务指标

    单位:元 币种:人民币

    本报告期末 上年度期末

    本报告期末比上年度

    期末增减（％）

    总资产 1,882,266,474.02 2,042,412,641.76 -7.84

    所有者权益（或股东权益） 385,370,254.80 508,744,914.20 -24.25

    每股净资产(元) 0.8585 1.1333 -24.25

    报告期（1－6 月） 上年同期

    本报告期比上年同期

    增减（％）

    营业利润 -139,672,708.17 -11,320,103.74 -1,133.85

    利润总额 -140,547,808.17 13,967,427.66 -1,106.25

    净利润 -131,415,724.73 8,513,676.04 -1,643.58

    扣除非经常性损益后的净

    利润

    -131,145,074.21 -16,092,153.13 -714.96

    基本每股收益(元) -0.2928 0.0190 -1,641.05

    扣除非经常性损益后的基

    本每股收益(元)

    -0.2922 -0.0358 -716.20

    稀释每股收益(元) -0.2928 0.0190 -1,641.05

    净资产收益率(%) -34.10 1.44 减少35.54 个百分点

    经营活动产生的现金流量

    净额

    -87,145,555.56 -23,174,068.47 -276.05

    每股经营活动产生的现金

    流量净额（元）

    -0.1941 -0.0516 -276.16

    2、非经常性损益项目和金额

    单位：元 币种：人民币

    非经常性损益项目 金额

    非流动资产处置损益,包括已计提资产减值准备的冲

    销部分

    483,679.69

    计入当期损益的政府补助，但与公司正常经营业务密

    切相关，符合国家政策规定、按照一定标准定额或定

    量持续享受的政府补助除外

    152,800.00

    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、交易性金融负债产生的公允价

    值变动损益，以及处置交易性金融资产、交易性金融

    负债和可供出售金融资产取得的投资收益

    1,060,478.39

    除上述各项之外的其他营业外收入和支出 -1,511,579.69

    少数股东权益影响额 -226,650.69

    所得税影响额 -229,378.22

    合计 -270,650.52上工申贝(集团)股份有限公司 2009 年半年度报告

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    三、股本变动及股东情况

    (一) 股份变动情况表

    单位：股

    本次变动前 本次变动增减（＋，－） 本次变动后

    数量

    比例

    (%)

    发

    行

    新

    股

    送

    股

    公

    积

    金

    转

    股

    其他 小计 数量

    比例

    (%)

    一、有限售条

    件股份

    1、国家持股 64,830,980 14.44 -64,830,980 -64,830,980 0 0

    2、国有法人持

    股

    3、其他内资持

    股

    其中： 境内非

    国有法人持股

    境内自然人持

    股

    ４、外资持股

    其中： 境外法

    人持股

    境外自然人持

    股

    有限售条件股

    份合计

    64,830,980 14.44 -64,830,980 -64,830,980 0 0

    二、无限售条

    件流通股份

    1、人民币普通

    股

    140,112,047 31.21 64,830,980 64,830,980 204,943,027 45.65

    2、境内上市的

    外资股

    243,943,750 54.35 243,943,750 54.35

    3、境外上市的

    外资股

    4、其他

    无限售条件流

    通股份合计

    384,055,797 85.56 64,830,980 64,830,980 448,886,777 100

    三、股份总数 448,886,777 100 0 0 448,886,777 100

    股份变动的批准情况

    2009 年6 月18 日,本公司第一大股东上海市浦东新区国有资产监督管理委员会（简

    称“新区国资委”）所持本公司有限售条件流通股64,830,980 股(系股改形成)获准上市

    流通,至此,新区国资委累计可上市交易的股份为109,719,658 股,剩余的有限售条件的股

    份为0 股。上工申贝(集团)股份有限公司 2009 年半年度报告

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    (二) 股东和实际控制人情况

    1、股东数量和持股情况

    单位：股

    报告期末股东总数 44,863 户,其中A 股股东13,811 户,B 股股东31,052 户

    前十名股东持股情况

    股东名称 股东性质

    持股比

    例(%)

    持股总数

    报告期内增

    减

    持有有限

    售条件股

    份数量

    质押或冻结的股份

    数量

    上海市浦东新区国

    有资产监督管理委

    员会

    国家 24.44 109,719,658 0 0 无

    上海国际信托投资

    有限公司

    国有法人 3.44 15,447,371 -1,600,000 0 未知

    王永漢 境内自然人 2.24 10,040,583 10,040,583 0 未知

    中国长城资产管理

    公司

    国家 1.28 5,760,514 -3,300,000 0 未知

    HONOUR FORCE

    INVESTMENTS LTD.

    境外法人 1.21 5,415,170 0 0 未知

    国泰君安证券股份

    有限公司

    国有法人 0.67 3,000,000 3,000,000 0 未知

    SCBHK A/C KG

    INVESTMENTS ASIA

    LIMITED

    境外法人 0.59 2,670,675 2,338,325 0 未知

    金樟贤 境内自然人 0.55 2,470,897 2,470,897 0 未知

    FIRST SHANGHAI

    SECURITIES LTD.

    境外法人 0.54 2,425,941 2,425,941 0 未知

    SHENYIN WANGUO

    NOMINEES (H.K.)

    LTD.

    境外法人 0.54 2,417,877 1,513,908 0 未知

    前十名无限售条件股东持股情况

    股东名称 持有无限售条件股份的数量 股份种类

    上海市浦东新区国有资产监督管理委

    员会

    109,719,658 人民币普通股

    上海国际信托投资有限公司 15,447,371 人民币普通股

    王永漢 10,040,583

    境内上市外资

    股

    中国长城资产管理公司 5,760,514 人民币普通股

    HONOUR FORCE INVESTMENTS LTD. 5,415,170

    境内上市外资

    股

    国泰君安证券股份有限公司 3,000,000 人民币普通股

    SCBHK A/C KG INVESTMENTS ASIA

    LIMITED

    2,670,675

    境内上市外资

    股

    金樟贤 2,470,897

    境内上市外资

    股

    FIRST SHANGHAI SECURITIES LTD. 2,425,941

    境内上市外资

    股

    SHENYIN WANGUO NOMINEES (H.K.)

    LTD.

    2,417,877

    境内上市外资

    股

    上述股东关联关系或一致行动的说

    明

    未知前十名流通股股东之间是否存在关联关系或一致行动人的情况。上工申贝(集团)股份有限公司 2009 年半年度报告

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    2、控股股东及实际控制人变更情况

    本报告期内公司控股股东及实际控制人没有发生变更。

    四、董事、监事和高级管理人员情况

    (一) 董事、监事和高级管理人员持股变动

    报告期内公司董事、监事、高级管理人员持股未发生变化。

    (二) 新聘或解聘公司董事、监事、高级管理人员的情况

    1、聘任情况

    （1）报告期内公司进行了董事会、监事会的换届工作。2009 年6 月30 日，公司2008 年

    度股东大会选举张敏先生、顾坚先生、马民良先生、李庭辉先生、卢宇洁先生、沈逸波先

    生为公司第六届董事会董事；选举王志乐先生、张鸣先生、苏勇先生为公司第六届董事会

    独立董事；选举谢钰寿先生、倪玥女士为公司第六届监事会监事；2009 年6 月3 日，公

    司召开职工代表大会选举姜小书女士为第六届监事会职工监事。

    （2）2009 年6 月30 日，公司召开第六届董事会第一次会议，选举并聘任张敏先生为公

    司董事长兼CEO；选举顾坚先生为副董事长；聘任马民良先生为公司总经理；经总经理提

    名，聘任诸葛惠玲女士、李嘉明先生、方海祥先生、郑莹女士为公司副总经理，聘任孟祥

    云女士为公司财务总监、财务负责人；聘任张一枫先生为公司董事会秘书、周勇强先生为

    证券事务代表。

    （3）2009 年6 月30 日，公司召开第六届监事会第一次会议，选举谢钰寿先生为公司监

    事会主席。

    2、离任情况

    报告期内，公司董事会、监事会分别举行换届改选。鞠卫峰先生、贾春荣先生不再担

    任董事职务，刘仁德先生、蒋衡杰先生、石良平先生不再担任公司独立董事职务；何忠源

    先生不再担任监事职务。

    五、董事会报告

    (一) 报告期内整体经营情况的讨论与分析

    2009 年上半年全球缝制行业市场形势依然严峻，市场整体性需求急剧减少，设备闲

    置状况严重，诸多企业被迫减员、减薪，各类指标下滑幅度较大。

    公司下属主要生产缝制设备的德国杜克普·阿德勒股份有限公司（简称DA 公司）因

    其具有产品毛利率高、生产费用高的特点，面临金融危机对欧洲制造业的强力冲击，在销

    售收入大幅度下降的情况下，虽然采取了多种降本措施，仍出现了亏损局面；公司在国内

    的缝制设备制造企业也因订单不足，出现生产能力放空现象。

    为应对危机，渡过难关，公司首先根据市场形势发展和客户需求，进行及时、适度的

    瘦身，通过缩小生产规模、裁减部分冗员、减少生产性资金投入、缩短工时、降低工薪等

    方式，力求使企业生产能力与市场需求相适应；其次公司严格执行挖潜降本的计划，通过

    实行开源节流、削减运营费用、收缩运营资金、加强现金流管理、积极回笼应收帐款，努

    力提高资金利用率，维持企业正常运转。同时，公司坚持缝制主业的发展，进一步组织实

    施国内和海外业务的优化整合，利用生产经营放慢运转的时机进行改革调整，作好行业复

    苏前的准备工作，保持自身在技术和品牌方面的优势，抓住危中之机，实现弯道超越。

    报告期内，公司营业收入75,438.20 万元，营业利润-13,967.27 万元，净利润为-13，

    141.57 万元，其中，DA 公司营业收入35,337.66 万元，营业利润-11,453.16 万元，净利

    润-11,439.53 万元。

    2009 年1－6 月，公司生产和销售的工业机分别为10,929 台和14,456 台，同比下降上工申贝(集团)股份有限公司 2009 年半年度报告

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    75.30％和64.86％，其中DA 公司生产和销售的工业机分别为2,700 台和3,179 台，同比

    下降78.19％和69.54％；通过定牌组织生产的蝴蝶牌家用缝纫机出口量达到239,768 台,

    同比增长23.84%。报告期内，公司出口创汇（不含DA 公司）3,975 万美元，与上年同期

    相比增长1.15%。

    1.报告期末公司资产负债表项目大幅变动情况及原因

    单位：元 币种：人民币

    项目 本报告期末 上年期末 增减金额 增减％ 原因分析

    交易性金融资产 2,523,578.37 1,223,468.55 1,300,109.82 106.26 注1

    应收票据 2,150,192.00 1,517,662.30 632,529.70 41.68 注2

    其他流动资产 1,278,029.57 970,192.36 307,837.21 31.73 注3

    可供出售金融资产 6,685,726.41 4,420,579.68 2,265,146.73 51.24 注4

    在建工程 3,219,467.47 6,778,786.23 -3,559,318.76 -52.51 注5

    应交税费 5,422,150.73 12,477,327.27 -7,055,176.54 -56.54 注6

    其他流动负债 585,151.63 891,742.25 -306,590.62 -34.38 注7

    未分配利润 -446,883,146.47 -315,467,421.74 -131,415,724.73 -41.66 注8

    注1：系本期股票的公允价值变动而增加的账面价值。

    注2：系本期增加收到银行承兑汇票。

    注3：系本期增加的以后期间承担的租金和保险费等。

    注4：系本期股票的公允价值变动而增加的账面价值。

    注5：主要系本期结转完工的缝制设备工程。

    注6：主要系本期支付应交所得税而减少期末余额。

    注7：主要系本期转销原计录的利息及租金费用所致。

    注8：系本期大幅亏损所致。

    2.报告期公司损益表项目大幅变动情况及原因

    单位：元 币种：人民币

    项目 本报告期 上年同期 增减金额 增减% 原因分析

    营业收入 754,382,039.09 1,162,806,720.29 -408,424,681.20 -35.12 注1

    资产减值损失 -805,211.24 -9,406,127.92 8,600,916.68 91.44 注2

    公允价值变动收益 872,969.06 -1,199,901.75 2,072,870.81 172.75 注3

    营业利润 -139,672,708.17 -11,320,103.74 -128,352,604.43 -1,133.85 注4

    营业外收入 1,345,555.28 26,022,933.54 -24,677,378.26 -94.83 注5

    营业外支出 2,220,655.28 735,402.24 1,485,253.04 201.96 注6

    所得税 1,071,898.23 2,872,725.99 -1,800,827.76 -62.69 注7

    少数股东损益 -10,203,981.67 2,581,025.53 -12,785,007.20 -495.35 注8

    注1：主要系受金融危机持续冲击，以海外市场为主的欧洲子公司受较大影响，营业收入

    同比下降54%。

    注2：主要系上年同期转回大额坏账准备所致。

    注3：主要系同比增加交易性金融资产公允价值的变动收益。

    注4：主要系同比大幅减少主营业务毛利额所致。

    注5：主要系同比减少固定资产处置收益。

    注6: 主要系同比增加停工损失。

    注7: 主要系欧洲子公司本期大幅亏损所致。

    注8: 主要系本期非全资子公司亏损大幅增加所致。上工申贝(集团)股份有限公司 2009 年半年度报告

    8

    3.报告期内公司现金流量表项目大幅变动情况及原因

    单位：元 币种：人民币

    项目 本报告期 上年同期 增减金额 增减（％) 原因分析

    经营活动产生的现金流量净额 -87,145,555.56 -23,174,068.47 -63,971,487.09 -276.05 注1

    投资活动产生的现金流量净额 20,558,532.05 -3,794,643.25 24,353,175.30 641.78 注2

    筹资活动产生的现金流量净额 -7,117,350.80 -62,954,936.69 55,837,585.89 88.69 注3

    汇率变动对现金的影响额 -551,919.60 845,269.45 -1,397,188.05 -165.30 注4

    注1：主要系受金融危机持续影响，同比减少销售商品、提供劳务收到的现金等所致。

    注2：主要系同比增加出售股权收到现金及同比减少处置固定资产收回现金和同比减少购

    建固定资产支付的现金等所致。

    注3：主要系同比减少银行短期借款净偿还金额及同比减少偿付利息所致。

    注4：主要系欧元汇率变动影响所致。

    (二) 公司主营业务及其经营状况

    1、主营业务分行业、产品情况表

    单位:元 币种:人民币

    分行业

    或分产

    品

    营业收入 营业成本

    营业利

    润率

    (%)

    营业收入比

    上年增减(%)

    营业成本比

    上年增减(%)

    营业利润率

    比上年增减

    (%)

    分行业

    缝制及

    物料传

    输设备

    558,212,102.62 495,211,901.16 11.29 -37.64 -23.03

    减少16.83

    个百分点

    出口贸

    易

    111,189,090.34 108,583,798.01 2.34 -39.63 -39.12

    减少0.83 个

    百分点

    影像材

    料

    49,123,161.03 44,351,654.01 9.71 33.81 32.20

    增加1.1 个

    百分点

    办公机

    械

    13,853,547.22 13,097,914.79 5.45 -14.55 -12.07

    减少2.68 个

    百分点

    其他 2,650,552.72 1,003,066.03 62.16 -35.49 -48.78

    增加9.83 个

    百分点

    其中：报告期内上市公司向控股股东及其子公司销售产品和提供劳务的关联交易总金额0

    万元。

    2、主营业务分地区情况

    单位:元 币种:人民币

    地区 营业收入 营业收入比上年增减（％）

    境内 381,651,864.65 3.51

    境外 353,376,589.28 -53.96

    3、参股公司经营情况（适用投资收益占净利润10％以上的情况）

    单位:元 币种:人民币

    公司名称 经营范围 净利润

    参股公司贡献的投

    资收益

    占上市公司净利润

    的比重(%)

    上海富士施乐有

    限公司

    复印机生产及销

    售

    -1,092,708.26 11,637,292.77上工申贝(集团)股份有限公司 2009 年半年度报告

    9

    4、利润构成与上年度相比发生重大变化的原因分析

    本期利润构成同比较大变化的原因主要系受金融危机的持续冲击，以海外市场为主的

    欧洲子公司受到极大影响，导致公司主营营业收入、主营业务毛利率同比大幅下降，主营

    业务毛利减少额大幅超过期间费用同比减少额；同时营业外收入同比减少。

    5、公司在经营中出现的问题与困难

    面对严峻的形势和沉重的压力，公司将积极推进改革重组的步伐，实施产品梯度转移，

    实现经营模式转变。

    （1）努力实施紧缩计划，稳定DA 公司的经营状况；

    （2）尽快将适应亚洲市场需求的DA 公司的产品，转移到国内组织生产；

    （3）调整产品的加工地域和加工方式，实现降本增效；

    （4）加强企业基础管理，提高产品质量，抓住政策机遇，扩大市场份额。

    (三) 公司投资情况

    1、募集资金使用情况

    报告期内，公司无募集资金或前期募集资金使用到本期的情况。

    2、非募集资金项目情况

    报告期内，公司无非募集资金投资项目。

    （四）公司财务状况、经营成果分析

    1、完成盈利预测的情况

    单位：元 币种：人民币

    盈利预测（本报告期） 本报告期实际数

    主营收入 735,028,453.93

    利润总额 -140,547,808.17

    净利润 -131,415,724.73

    2、完成经营计划情况

    单位：元 币种：人民币

    原拟订的本报告期经营计划本报告期实际数

    收入 754,382,039.09

    成本及费用 908,822,674.28

    (五) 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

    因全球金融危机对欧洲制造业的严重冲击,公司下属缝制设备主要企业德国DA 公司

    经营状况未见好转,受此影响,预计公司下一报告期期末累计净利润为亏损。上工申贝(集团)股份有限公司 2009 年半年度报告

    10

    六、重要事项

    (一) 公司治理的情况

    公司严格按照《公司法》、《证券法》和中国证监会《上市公司治理准则》的要求，

    重视不断完善公司法人治理结构，规范公司运作。

    报告期内，公司按时召开了年度股东大会，顺利地完成了董事会、监事会的换届改选

    和新一届管理层的聘任工作。公司股东大会、董事会、监事会及经理层相互协调、互相制

    衡，公司机构设置及职能的分工符合内控制度的要求。

    公司重视内部制度建设，在制度贯彻执行中注意不断健全和完善，报告期内，新订和

    修订了7 项内部制度。

    公司控股股东能够严格规范自己的行为，未发生直接或简接干预公司经营决策的行

    为，公司与控股股东在人员、资产、财务、机构和业务方面做到“五分开”。

    公司严格按照法律、法规和公司《章程》的规定，真实、准确、完整、及时地披露有

    关信息，并确保所有股东有平等的机会获得有关信息。

    (二) 报告期实施的利润分配方案执行情况

    报告期内，公司无实施利润分配方案执行情况。

    (三) 半年度拟定的利润分配预案、公积金转增股本预案

    公司半年度不进行利润分配，也不进行资本公积金转增股本。

    (四) 报告期内现金分红政策的执行情况

    2009 年3 月26 日，公司五届二十三次董事会审议通过了关于修改公司《章程》的议

    案，调整了现金分红的政策，该议案已经公司2008 年度股东大会审议批准。

    (五) 重大诉讼仲裁事项

    本报告期公司无重大诉讼、仲裁事项。

    (六) 公司持有其他上市公司股权、参股金融企业股权情况

    1、证券投资情况

    序

    号

    证券

    品种

    证券代

    码

    证券简

    称

    初始投资金额

    （元）

    持有数量

    （股）

    期末账面值

    （元）

    占期末

    证券投

    资比例

    （％）

    报告期损益

    （元）

    1 基金 160402

    华安A

    股

    100,000.00 399,785.25 339,417.68 13.45 132,728.71

    期末持有的其他证券投资 2,734,550.89 / 2,184,160.69 86.55 740,240.35

    报告期已出售证券投资损益 / / / / 83,559.33

    合计 2,834,550.89 / 2,523,578.37 100 956,528.39

    2、持有其他上市公司股权情况

    单位：元

    证券代

    码

    证

    券

    简

    称

    初始投资金额

    占该公

    司股权

    比例

    （％）

    期末账面值 报告期损益

    报告期所有者

    权益变动

    会计

    核算

    科目

    股份

    来源

    600637

    广

    电

    67,600.00 <5 156,250.71 68,703.93

    可供

    出售

    法人

    股投上工申贝(集团)股份有限公司 2009 年半年度报告

    11

    信

    息

    金融

    资产

    资

    600689

    上

    海

    三

    毛

    2,103,200.00 <5 6,529,475.70 103,950.00 2,300,392.80

    可供

    出售

    金融

    资产

    法人

    股投

    资

    合计 2,170,800.00 / 6,685,726.41 103,950.00 2,369,096.73 / /

    3、持有非上市金融企业股权情况

    所持

    对象

    名称

    初始投资金

    额（元）

    持有数量

    （股）

    占该公

    司股权

    比例（%）

    期末账面值

    （元）

    报告期

    损益

    （元）

    报告期

    所有者

    权益变

    动（元）

    会计核

    算科目

    股份来

    源

    上海

    银行

    551,400.00 191,700 <5 551,400.00

    长期股

    权投资

    购入

    宝鼎

    投资

    7,500.00 5,751 <5 7,500.00

    长期股

    权投资

    购入

    申银

    万国

    200,000.00 102,214 <5 200,000.00

    长期股

    权投资

    购入

    合计 758,900.00 - / 758,900.00 / /

    (七) 报告期内公司收购及出售资产、吸收合并事项

    本报告期公司无收购及出售资产、吸收合并事项。

    (八) 报告期内公司重大关联交易事项

    本报告期公司无重大关联交易事项。

    (九) 重大合同及其履行情况

    1、托管、承包、租赁事项

    (1) 托管情况

    本报告期公司无托管事项。

    (2) 承包情况

    本报告期公司无承包事项。

    (3) 租赁情况

    本报告期公司无租赁事项。

    2、担保情况

    单位:万元 币种:人民币

    公司对外担保情况（不包括对子公司的担保）

    担保对象名

    称

    发生日期

    （协议签署

    日）

    担保金额 担保类型 担保期限

    是否

    履行

    完毕

    是否

    为关

    联方

    担保

    上海华源企

    业发展股份

    有限公司

    2004 年11 月

    11 日

    3,000

    连带责任担

    保

    2004 年11 月11 日～2005

    年11 月9 日

    否 否

    上海华源企2005 年3 月29 849 连带责任担2005 年3 月29 日～2005 年否 否上工申贝(集团)股份有限公司 2009 年半年度报告

    12

    业发展股份

    有限公司

    日 保 9 月29 日

    上海华源企

    业发展股份

    有限公司

    2005 年5 月27

    日

    1,000

    连带责任担

    保

    2005 年5 月27 日～2006 年

    5 月23 日

    否 否

    上海华源企

    业发展股份

    有限公司

    2005 年6 月13

    日

    1,000

    连带责任担

    保

    2005 年6 月13 日～2005 年

    9 月29 日

    否 否

    上海华源企

    业发展股份

    有限公司

    2005 年6 月6

    日

    3,000

    连带责任担

    保

    2005 年6 月6 日～2006 年6

    月1 日

    否 否

    上海华源企

    业发展股份

    有限公司

    2005 年7 月14

    日

    3,000

    连带责任担

    保

    2005 年7 月14 日～2006 年

    7 月4 日

    否 否

    上海浦东发

    展(集团)有

    限公司

    2008 年6 月9

    日

    13,560

    连带责任担

    保

    2008 年6 月9 日～2012 年6

    月8 日

    否 否

    报告期内担保发生额合计 0

    报告期末担保余额合计 25,409

    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 0

    报告期末对子公司担保余额合计 15,672

    公司担保总额情况（包括对子公司的担保）

    担保总额 41,081

    担保总额占公司净资产的比例 95.1

    其中：

    为股东、实际控制人及其关联方提供担保的金额 0

    直接或间接为资产负债率超过70％的被担保对象提供的债务担保金额27,521

    担保总额超过净资产50％部分的金额 0

    上述三项担保金额合计 27,521

    （1）本公司与上海华源企业发展股份有限公司（下称“华源发展”）自2001 年起建立了

    互为对方向银行贷款提供担保的协议。此后华源发展未能按约归还借款，被银行提起诉讼，

    此时因公司为华源发展提供的担保尚余六笔，逾期金额为11,849 万元，本公司也被卷入

    案件之中。2008 年内，华源发展以其所持部分股权作为对本公司为其担保所提供的反担

    保抵（质）押物，本公司以部分自有资产作为华源发展向银行借款提供的担保物，与银行

    办理了抵（质）押手续，同时与银行签订了和解协议（详见公司临2008—002、010、016

    号公告）。

    （2）根据本公司与德国FAG Kugelfischer GmbH（下称“FAG 公司”）签订的德国DA 公

    司股份转让协议，本公司需对下述事项承担一定的连带担保责任：

    1）根据协议，收购德国DA 公司除了支付949,821.00 欧元的股份对价款之外，本公司

    下属全资子公司上工（欧洲）控股有限责任公司（下称“上工欧洲”）还需承担对FAG

    公司36,525,132.28 欧元的股东贷款对价。截止2005 年末，已经支付了股份对价款以及

    9,482,436.84 欧元的股东贷款，剩余的27,042,695.44 欧元股东贷款原约定由“上工欧

    洲”自2005 年6 月30 日后第二个周年日（2007 年6 月30 日）开始分九年等额支付，分

    期付款的利息自2005 年6 月30 日起按照6%的年利率计算利息，并从2005 年6 月30 日上工申贝(集团)股份有限公司 2009 年半年度报告

    13

    起每年支付一次。

    对于上述“上工欧洲”的支付义务，本公司承担连带担保责任。但是对于剩余股东贷

    款对价以及应计利息所承担的连带责任，以其实际数额的50%为限，且最高额不超过

    12,500,000.00 欧元。

    截止收购完成日，DA 公司净资产约为1,639.7 万欧元，但是由于上工欧洲需要承担

    DA 公司对原大股东FAG 的欠款，且本公司对此需要承担连带担保责任，故最终上工欧洲

    为取得89.932%股权支付的成本仅为129.3 万欧元，产生了约1,510.4 万欧元的投资贷差。

    鉴于相关的担保偿债风险，考虑到DA 公司经营状况以及产生现金流的能力，公司将贷差

    于合并时还原，调整了相关的主要经营资产，并根据担保风险的变化以及DA 公司经营的

    实际情况，适当地转回原调整的金额。

    截止本报告期末，“上工欧洲”已经归还FAG 公司前二期贷款对价600 万欧元，剩余

    贷款对价为2,103 万欧元。

    2）2005 年度，本公司为DA 公司在美国子公司的房屋租赁向FAG 公司出具了金额不超

    过530 万美元的担保函，担保期限从2005 年6 月30 日至2015 年10 月31 日；同时“上

    工欧洲”于2005 年6 月30 日向FAG 公司提供了63.5 万欧元、同等期限的现金质押，用

    于对FAG 公司为DA 公司在美国的一家子公司与UTF Norcross L.L.C.之间的房屋售后回

    租交易所提供的担保提供再担保。

    截止2009 年6 月30 日止，本公司尚未因上述担保事项发生经济利益的流出。

    3、委托理财情况

    本报告期公司无委托理财事项。

    4、其他重大合同

    本报告期公司无其他重大合同。

    (十) 承诺事项履行情况

    持股5%以上股份的股东为上海市浦东新区国有资产监督管理委员会，能严格履行其

    在股权分置改革中作出的一般承诺。

    (十一) 聘任、解聘会计师事务所情况

    报告期内，经公司股东大会批准，公司继续聘任立信会计师事务所有限公司为本公司

    2009 年度会计报表审计机构。

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

    况

    本报告期内，公司及其董事、监事、高级管理人员、公司股东、实际控制人均未受中

    国证监会稽查、行政处罚、通报批评及证券交易所的公开谴责。

    (十三) 其他重大事项及其影响和解决方案的分析说明

    本报告期公司无其他重大事项。

    (十四) 信息披露索引

    事项 刊载的报刊名称及版面 刊载日期 刊载的互联网网站及检索路径

    临2009-001 2008

    年度业绩预减公告

    《上海证券报》C71 版

    香港《商报》A5 版

    2009 年1 月23 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-002 第五《上海证券报》C39 版 2009 年3 月10 日上海证券交易所网站上工申贝(集团)股份有限公司 2009 年半年度报告

    14

    届董事会第二十二

    次会议决议公告

    香港《商报》A6 版 http://www.sse.com.cn

    临2009-003 2008

    年度业绩预亏公告

    《上海证券报》C40 版

    香港《商报》A6 版

    2009 年3 月17 日

    上海证券交易所网站

    http://www.sse.com.cn

    2008 年度报告摘要

    《上海证券报》153 版

    香港《商报》B8 版

    2009 年3 月28 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-004 第五

    届董事会第二十三

    次会议决议公告

    《上海证券报》153 版

    香港《商报》B8 版

    2009 年3 月28 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-005 第五届

    监事会第十三次会

    议决议公告

    《上海证券报》153 版

    香港《商报》B8 版

    2009 年3 月28 日

    上海证券交易所网站

    http://www.sse.com.cn

    2009 年第一季度报

    告

    《上海证券报》114 版

    香港《商报》A8 版

    2009 年4 月25 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-006 关于董

    事辞职的公告

    《上海证券报》C15 版

    香港《商报》A5 版

    2009 年5 月14 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-007 第五届

    董事会第二十五次

    会议决议暨召开

    2008 年年度股东大

    会公告

    《上海证券报》C21 版

    香港《商报》B8 版

    2009 年6 月9 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-008 第五届

    监事会第十五次会

    议决议公告

    《上海证券报》C21 版

    香港《商报》B8 版

    2009 年6 月9 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-009 有限售

    条件的流通股上市

    公告

    《上海证券报》C5 版

    香港《商报》B6 版

    2009 年6 月11 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-010 2008

    年度股东大会决议

    公告

    《上海证券报》C13 版

    香港《商报》A6 版

    2009 年7 月1 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-011 第六届

    董事会第一次会议

    决议公告

    《上海证券报》B2 版

    香港《商报》B6 版

    2009 年7 月2 日

    上海证券交易所网站

    http://www.sse.com.cn

    临2009-012 第六届

    监事会第一次会议

    决议公告

    《上海证券报》B2 版

    香港《商报》B6 版

    2009 年7 月2 日

    上海证券交易所网站

    http://www.sse.com.cn上工申贝(集团)股份有限公司 2009 年半年度报告

    15

    七、财务会计报告(未经审计)

    (一)财务报表

    合并资产负债表

    2009 年6 月30 日

    编制单位:

    单位:元 币种:人民币

    项目 附注 期末余额 年初余额

    流动资产：

    货币资金 307,989,740.95 379,921,085.97

    结算备付金

    拆出资金

    交易性金融资产 2,523,578.37 1,223,468.55

    应收票据 2,150,192.00 1,517,662.30

    应收账款 240,060,965.42 276,336,554.83

    预付款项 38,727,285.40 35,581,729.81

    应收保费

    应收分保账款

    应收分保合同准备金

    应收利息

    应收股利 78,000.00

    其他应收款 54,527,827.36 60,418,127.44

    买入返售金融资产

    存货 487,766,869.44 522,511,005.88

    一年内到期的非流动

    资产

    其他流动资产 1,278,029.57 970,192.36

    流动资产合计 1,135,024,488.51 1,278,557,827.14

    非流动资产：

    发放贷款及垫款

    可供出售金融资产 6,685,726.41 4,420,579.68

    持有至到期投资

    长期应收款

    长期股权投资 43,021,920.95 43,021,920.95

    投资性房地产 146,748,713.23 150,404,623.75

    固定资产 310,200,242.56 319,529,667.47

    在建工程 3,219,467.47 6,778,786.23

    工程物资

    固定资产清理

    生产性生物资产

    油气资产

    无形资产 110,800,568.01 114,454,442.55

    开发支出 55,573,580.23 55,078,865.45上工申贝(集团)股份有限公司 2009 年半年度报告

    16

    商誉 28,089,434.88 28,142,462.40

    长期待摊费用 1,574,377.11

    递延所得税资产 41,327,954.66 42,023,466.14

    其他非流动资产

    非流动资产合计 747,241,985.51 763,854,814.62

    资产总计 1,882,266,474.02 2,042,412,641.76

    流动负债：

    短期借款 372,458,355.91 364,951,612.15

    向中央银行借款

    吸收存款及同业存放

    拆入资金

    交易性金融负债

    应付票据 6,651,389.81 6,025,913.96

    应付账款 141,094,226.16 154,286,725.16

    预收款项 81,475,766.00 89,348,979.40

    卖出回购金融资产款

    应付手续费及佣金

    应付职工薪酬 43,633,203.28 36,996,421.11

    应交税费 5,422,150.73 12,477,327.27

    应付利息

    应付股利 580,587.00 1,634,717.91

    其他应付款 121,742,823.31 121,566,474.38

    应付分保账款

    保险合同准备金

    代理买卖证券款

    代理承销证券款

    一年内到期的非流动

    负债

    520,000.00 520,000.00

    其他流动负债 585,151.63 891,742.25

    流动负债合计 774,163,653.83 788,699,913.59

    非流动负债：

    长期借款 1,489,984.87 1,489,984.87

    应付债券

    长期应付款 204,609,182.04 204,992,086.48

    专项应付款

    预计负债 431,372,338.81 445,009,687.60

    递延所得税负债 38,621,289.90 37,237,656.54

    其他非流动负债

    非流动负债合计 676,092,795.62 688,729,415.49

    负债合计 1,450,256,449.45 1,477,429,329.08

    股东权益：

    股本 448,886,777.00 448,886,777.00上工申贝(集团)股份有限公司 2009 年半年度报告

    17

    资本公积 399,674,097.13 390,948,871.29

    减：库存股

    盈余公积 4,546,242.52 4,546,242.52

    一般风险准备

    未分配利润 -446,883,146.47 -315,467,421.74

    外币报表折算差额 -20,853,715.38 -20,169,554.87

    归属于母公司所有者

    权益合计

    385,370,254.80 508,744,914.20

    少数股东权益 46,639,769.77 56,238,398.48

    股东权益合计 432,010,024.57 564,983,312.68

    负债和股东权益合计 1,882,266,474.02 2,042,412,641.76

    法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:孟祥云上工申贝(集团)股份有限公司 2009 年半年度报告

    18

    母公司资产负债表

    2009 年6 月30 日

    编制单位:

    单位:元 币种:人民币

    项目 附注 期末余额 年初余额

    流动资产：

    货币资金 59,785,492.89 65,099,297.35

    交易性金融资产 339,417.68 206,688.97

    应收票据 378,000.00 470,000.00

    应收账款 25,718,503.95 27,696,421.33

    预付款项 4,295.00 17,295.00

    应收利息

    应收股利 680,918.26 2,209,894.09

    其他应收款 73,286,678.55 67,772,917.46

    存货 11,217,423.33 12,367,241.54

    一年内到期的非流动

    资产

    其他流动资产

    流动资产合计 171,410,729.66 175,839,755.74

    非流动资产：

    可供出售金融资产 5,947,366.41 3,796,759.68

    持有至到期投资

    长期应收款

    长期股权投资 540,648,462.77 540,648,462.77

    投资性房地产 49,785,891.56 50,942,570.84

    固定资产 64,600,367.67 68,362,565.67

    在建工程 775,087.14 793,335.04

    工程物资

    固定资产清理

    生产性生物资产

    油气资产

    无形资产 44,215,488.11 45,684,252.41

    开发支出

    商誉

    长期待摊费用

    递延所得税资产

    其他非流动资产

    非流动资产合计 705,972,663.66 710,227,946.41

    资产总计 877,383,393.32 886,067,702.15

    流动负债：

    短期借款 335,548,148.62 325,548,148.62

    交易性金融负债上工申贝(集团)股份有限公司 2009 年半年度报告

    19

    应付票据

    应付账款 29,318,645.59 31,766,559.39

    预收款项 4,306,103.66 4,764,535.81

    应付职工薪酬 2,045.20

    应交税费 24,575.85 34,445.20

    应付利息

    应付股利 1,032,818.86 1,032,818.86

    其他应付款 194,091,125.69 181,330,843.10

    一年内到期的非流动

    负债

    400,000.00 400,000.00

    其他流动负债

    流动负债合计 564,723,463.47 544,877,350.98

    非流动负债：

    长期借款

    应付债券

    长期应付款 1,474,782.00 1,474,782.00

    专项应付款

    预计负债 35,546,274.60 35,546,274.60

    递延所得税负债

    其他非流动负债

    非流动负债合计 37,021,056.60 37,021,056.60

    负债合计 601,744,520.07 581,898,407.58

    股东权益：

    股本 448,886,777.00 448,886,777.00

    资本公积 396,761,860.98 394,611,254.25

    减：库存股

    盈余公积 4,546,242.52 4,546,242.52

    未分配利润 -574,556,007.25 -543,874,979.20

    外币报表折算差额

    股东权益合计 275,638,873.25 304,169,294.57

    负债和股东权益合计 877,383,393.32 886,067,702.15

    法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:孟祥云上工申贝(集团)股份有限公司 2009 年半年度报告

    20

    合并利润表

    2009 年1—6 月

    单位:元 币种:人民币

    项目 附注 本期金额 上期金额

    一、营业总收入 754,382,039.09 1,162,806,720.29

    其中：营业收入 754,382,039.09 1,162,806,720.29

    利息收入

    已赚保费

    手续费及佣金收入

    二、营业总成本 910,278,912.00 1,186,561,609.93

    其中：营业成本 667,761,921.44 890,884,653.94

    利息支出

    手续费及佣金支出

    退保金

    赔付支出净额

    提取保险合同准备金净额

    保单红利支出

    分保费用

    营业税金及附加 2,261,448.96 2,257,626.54

    销售费用 104,016,486.35 141,817,767.58

    管理费用 107,400,238.22 132,035,485.48

    财务费用 29,644,028.27 28,972,204.31

    资产减值损失 -805,211.24 -9,406,127.92

    加：公允价值变动收益（损失以“－”

    号填列）

    872,969.06 -1,199,901.75

    投资收益（损失以“－”号填列） 15,351,195.68 13,634,687.65

    其中：对联营企业和合营企业的

    投资收益

    汇兑收益（损失以“－”号填列）

    三、营业利润（亏损以“－”号填列） -139,672,708.17 -11,320,103.74

    加：营业外收入 1,345,555.28 26,022,933.54

    减：营业外支出 2,220,655.28 735,402.24

    其中：非流动资产处置净损失

    四、利润总额（亏损总额以“－”号填列） -140,547,808.17 13,967,427.56

    减：所得税费用 1,071,898.23 2,872,725.99

    五、净利润（净亏损以“－”号填列） -141,619,706.40 11,094,701.57

    归属于母公司所有者的净利润 -131,415,724.73 8,513,676.04

    少数股东损益 -10,203,981.67 2,581,025.53

    六、每股收益：

    （一）基本每股收益 -0.2928 0.0190

    （二）稀释每股收益 -0.2928 0.0190

    法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:孟祥云上工申贝(集团)股份有限公司 2009 年半年度报告

    21

    母公司利润表

    2009 年1—6 月

    单位:元 币种:人民币

    项目 附注 本期金额 上期金额

    一、营业收入 7,070,221.74 18,668,644.01

    减：营业成本 5,169,583.49 13,013,356.74

    营业税金及附加 174,450.10 249,819.70

    销售费用 114,579.82 520,381.20

    管理费用 20,531,755.54 25,156,886.50

    财务费用 11,523,239.73 11,582,054.55

    资产减值损失 544,111.21 -1,076,110.07

    加：公允价值变动收益（损失以

    “－”号填列）

    132,728.71 -41,472.00

    投资收益（损失以“－”号

    填列）

    23,598.25 3,261,222.10

    其中：对联营企业和合营

    企业的投资收益

    二、营业利润（亏损以“－”号填列） -30,831,171.19 -27,557,994.51

    加：营业外收入 474,193.14 25,418,190.14

    减：营业外支出 324,050.00 481,799.70

    其中：非流动资产处置净损

    失

    三、利润总额（亏损总额以“－”号

    填列）

    -30,681,028.05 -2,621,604.07

    减：所得税费用

    四、净利润（净亏损以“－”号填列） -30,681,028.05 -2,621,604.07

    法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:孟祥云上工申贝(集团)股份有限公司 2009 年半年度报告

    22

    合并现金流量表

    2009 年1—6 月

    单位:元 币种:人民币

    项目 附注 本期金额 上期金额

    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

    818,308,730.08 1,365,067,943.37

    客户存款和同业存放

    款项净增加额

    向中央银行借款净增

    加额

    向其他金融机构拆入

    资金净增加额

    收到原保险合同保费

    取得的现金

    收到再保险业务现金

    净额

    保户储金及投资款净

    增加额

    处置交易性金融资产

    净增加额

    收取利息、手续费及

    佣金的现金

    拆入资金净增加额

    回购业务资金净增加

    额

    收到的税费返还 34,099,091.09 27,135,892.98

    收到其他与经营活动

    有关的现金

    13,537,953.98 31,540,774.94

    经营活动现金流入

    小计

    865,945,775.15 1,423,744,611.29

    购买商品、接受劳务

    支付的现金

    593,758,989.02 983,871,867.12

    客户贷款及垫款净增

    加额

    存放中央银行和同业

    款项净增加额

    支付原保险合同赔付

    款项的现金

    支付利息、手续费及

    佣金的现金

    支付保单红利的现金上工申贝(集团)股份有限公司 2009 年半年度报告

    23

    支付给职工以及为职

    工支付的现金

    268,794,816.28 361,793,603.71

    支付的各项税费 17,803,503.69 24,726,230.41

    支付其他与经营活动

    有关的现金

    72,734,021.72 76,526,978.52

    经营活动现金流出

    小计

    953,091,330.71 1,446,918,679.76

    经营活动产生的

    现金流量净额

    -87,145,555.56 -23,174,068.47

    二、投资活动产生的现金

    流量：

    收回投资收到的现金

    取得投资收益收到的

    现金

    15,351,195.68 14,593,033.33

    处置固定资产、无形

    资产和其他长期资产收回

    的现金净额

    2,104,952.75 30,824,412.48

    处置子公司及其他营

    业单位收到的现金净额

    17,791,100.00

    收到其他与投资活动

    有关的现金

    投资活动现金流入

    小计

    35,247,248.43 45,417,445.81

    购建固定资产、无形

    资产和其他长期资产支付

    的现金

    14,373,861.37 47,415,617.45

    投资支付的现金 314,855.01 1,796,471.61

    质押贷款净增加额

    取得子公司及其他营

    业单位支付的现金净额

    支付其他与投资活动

    有关的现金

    投资活动现金流出

    小计

    14,688,716.38 49,212,089.06

    投资活动产生的

    现金流量净额

    20,558,532.05 -3,794,643.25

    三、筹资活动产生的现金

    流量：

    吸收投资收到的现金 3,699,538.78

    其中：子公司吸收少

    数股东投资收到的现金

    取得借款收到的现金 217,200,000.00 267,200,000.00

    发行债券收到的现金上工申贝(集团)股份有限公司 2009 年半年度报告

    24

    收到其他与筹资活动

    有关的现金

    筹资活动现金流入

    小计

    217,200,000.00 270,899,538.78

    偿还债务支付的现金 209,693,256.24 302,063,848.60

    分配股利、利润或偿

    付利息支付的现金

    12,268,768.18 31,790,626.87

    其中：子公司支付给

    少数股东的股利、利润

    支付其他与筹资活动

    有关的现金

    2,355,326.38

    筹资活动现金流出

    小计

    224,317,350.80 333,854,475.47

    筹资活动产生的

    现金流量净额

    -7,117,350.80 -62,954,936.69

    四、汇率变动对现金及现

    金等价物的影响

    -551,919.60 845,269.45

    五、现金及现金等价物净

    增加额

    -74,256,293.91 -89,078,378.96

    加：期初现金及现金

    等价物余额

    353,799,316.68 438,292,840.47

    六、期末现金及现金等价

    物余额

    279,543,022.77 349,214,461.51

    法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:孟祥云上工申贝(集团)股份有限公司 2009 年半年度报告

    25

    母公司现金流量表

    2009 年1—6 月

    单位:元 币种:人民币

    项目 附注 本期金额 上期金额

    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

    8,874,928.67 18,568,197.88

    收到的税费返还

    收到其他与经营活动

    有关的现金

    14,597,252.84 46,855,294.66

    经营活动现金流入

    小计

    23,472,181.51 65,423,492.54

    购买商品、接受劳务

    支付的现金

    5,425,071.17 13,982,108.74

    支付给职工以及为职

    工支付的现金

    10,769,512.49 12,533,584.99

    支付的各项税费 1,269,299.48 2,954,938.42

    支付其他与经营活动

    有关的现金

    10,055,176.28 93,940,103.20

    经营活动现金流出

    小计

    27,519,059.42 123,410,735.35

    经营活动产生的

    现金流量净额

    -4,046,877.91 -57,987,242.81

    二、投资活动产生的现金

    流量：

    收回投资收到的现金

    取得投资收益收到的

    现金

    3,261,222.10

    处置固定资产、无形

    资产和其他长期资产收回

    的现金净额

    576,250.00 30,223,226.28

    处置子公司及其他营

    业单位收到的现金净额

    收到其他与投资活动

    有关的现金

    投资活动现金流入

    小计

    576,250.00 33,484,448.38

    购建固定资产、无形

    资产和其他长期资产支付

    的现金

    746,592.67 7,716,621.03

    投资支付的现金 7,019,000.00

    取得子公司及其他营上工申贝(集团)股份有限公司 2009 年半年度报告

    26

    业单位支付的现金净额

    支付其他与投资活动

    有关的现金

    投资活动现金流出

    小计

    746,592.67 14,735,621.03

    投资活动产生的

    现金流量净额

    -170,342.67 18,748,827.35

    三、筹资活动产生的现金

    流量：

    吸收投资收到的现金

    取得借款收到的现金 182,200,000.00 232,200,000.00

    收到其他与筹资活动

    有关的现金

    筹资活动现金流入

    小计

    182,200,000.00 232,200,000.00

    偿还债务支付的现金 172,200,000.00 187,400,000.00

    分配股利、利润或偿

    付利息支付的现金

    10,964,196.29 10,683,711.67

    支付其他与筹资活动

    有关的现金

    2,330,000.00

    筹资活动现金流出

    小计

    185,494,196.29 198,083,711.67

    筹资活动产生的

    现金流量净额

    -3,294,196.29 34,116,288.33

    四、汇率变动对现金及现

    金等价物的影响

    -132,387.59 -393,908.38

    五、现金及现金等价物净

    增加额

    -7,643,804.46 -5,516,035.51

    加：期初现金及现金

    等价物余额

    55,099,297.35 92,076,908.44

    六、期末现金及现金等价

    物余额

    47,455,492.89 86,560,872.93

    法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:孟祥云上工申贝(集团)股份有限公司 2009 年半年度报告

    27

    合并所有者权益变动表

    2009 年1—6 月

    单位:元 币种:人民币

    本期金额

    归属于母公司所有者权益

    项目

    股本 资本公积

    减：

    库存

    股

    盈余公积

    一

    般

    风

    险

    准

    备

    未分配利润 其他

    少数股东权益 所有者权益合计

    一、上年年末

    余额

    448,886,777.00 390,948,871.29 4,546,242.52 -315,467,421.74 -20,169,554.87 56,238,398.48 564,983,312.68

    加：同一

    控制下企业

    合并产生的

    追溯调整

    会

    计政策变更

    前

    期差错更正

    其

    他

    二、本年年初

    余额

    448,886,777.00 390,948,871.29 4,546,242.52 -315,467,421.74 -20,169,554.87 56,238,398.48 564,983,312.68

    三、本期增减

    变动金额（减

    少以“－”号

    填列）

    8,725,225.84 -131,415,724.73 -684,160.51 -9,598,628.71 -132,973,288.11

    （一）净利润 -131,415,724.73 -10,203,981.67 -141,619,706.40

    （二）直接计

    入所有者权

    益的利得和

    损失

    8,725,225.84 -684,160.51 605,352.96 8,646,418.29

    1．可供出售

    金融资产公

    允价值变动

    净额

    2,150,606.73 2,150,606.73

    2．权益法下

    被投资单位

    其他所有者

    权益变动的

    影响

    6,574,619.11 6,574,619.11

    3．与计入所

    有者权益项

    目相关的所

    得税影响

    4．其他 -684,160.51 605,352.96 -78,807.55

    上述（一）和

    （二）小计

    8,725,225.84 -131,415,724.73 -684,160.51 -9,598,628.71 -132,973,288.11

    （三）所有者

    投入和减少

    资本

    1．所有者投

    入资本

    2．股份支付

    计入所有者

    权益的金额

    3．其他

    （四）利润分

    配

    1．提取盈余

    公积

    2．提取一般

    风险准备

    3．对所有者

    （或股东）的上工申贝(集团)股份有限公司 2009 年半年度报告

    28

    分配

    4．其他

    （五）所有者

    权益内部结

    转

    1．资本公积

    转增资本（或

    股本）

    2．盈余公积

    转增资本（或

    股本）

    3．盈余公积

    弥补亏损

    4．其他

    四、本期期末

    余额

    448,886,777.00 399,674,097.13 4,546,242.52 -446,883,146.47 -20,853,715.38 46,639,769.77 432,010,024.57

    单位:元 币种:人民币

    上年同期金额

    归属于母公司所有者权益

    项目

    股本 资本公积

    减：

    库存

    股

    盈余公积

    一

    般

    风

    险

    准

    备

    未分配利润 其他

    少数股东权益 所有者权益合计

    一、上年年末

    余额

    448,886,777.00 411,218,244.59 4,546,242.52 -283,205,720.63 3,028,055.36 59,205,010.45 643,678,609.29

    加：同一

    控制下企业

    合并产生的

    追溯调整

    会

    计政策变更

    前

    期差错更正

    其

    他

    二、本年年初

    余额

    448,886,777.00 411,218,244.59 4,546,242.52 -283,205,720.63 3,028,055.36 59,205,010.45 643,678,609.29

    三、本期增减

    变动金额（减

    少以“－”号

    填列）

    -4,237,459.46 8,513,676.04 3,739,803.44 6,443,296.99 14,459,317.01

    （一）净利润 8,513,676.04 2,581,025.53 11,094,701.57

    （二）直接计

    入所有者权

    益的利得和

    损失

    -4,237,459.46 3,739,803.44 3,862,271.46 3,364,615.44

    1．可供出售

    金融资产公

    允价值变动

    净额

    -15,419,035.97 -15,419,035.97

    2．权益法下

    被投资单位

    其他所有者

    权益变动的

    影响

    3．与计入所

    有者权益项

    目相关的所

    得税影响

    4．其他 11,181,576.51 3,739,803.44 3,862,271.46 18,783,651.41

    上述（一）和

    （二）小计

    -4,237,459.46 8,513,676.04 3,739,803.44 6,443,296.99 14,459,317.01

    （三）所有者

    投入和减少

    资本上工申贝(集团)股份有限公司 2009 年半年度报告

    29

    1．所有者投

    入资本

    2．股份支付

    计入所有者

    权益的金额

    3．其他

    （四）利润分

    配

    1．提取盈余

    公积

    2．提取一般

    风险准备

    3．对所有者

    （或股东）的

    分配

    4．其他

    （五）所有者

    权益内部结

    转

    1．资本公积

    转增资本（或

    股本）

    2．盈余公积

    转增资本（或

    股本）

    3．盈余公积

    弥补亏损

    4．其他

    四、本期期末

    余额

    448,886,777.00 406,980,785.13 4,546,242.52 -274,692,044.59 6,767,858.80 65,648,307.44 658,137,926.30

    法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:孟祥云

    母公司所有者权益变动表

    2009 年1—6 月

    单位:元 币种:人民币

    本期金额

    项目

    股本 资本公积

    减：

    库存

    股

    盈余公积 未分配利润

    其

    它

    所有者权益合计

    一、上年年

    末余额

    448,886,777.00 394,611,254.25 4,546,242.52 -543,874,979.20 304,169,294.57

    加：会

    计政策变更

    前

    期差错更正

    其他

    二、本年年

    初余额

    448,886,777.00 394,611,254.25 4,546,242.52 -543,874,979.20 304,169,294.57

    三、本期增

    减变动金额

    （减少以

    “－”号填

    列）

    2,150,606.73 -30,681,028.05 -28,530,421.32

    （一）净利

    润

    -30,681,028.05 -30,681,028.05

    （二）直接

    计入所有者

    权益的利得

    2,150,606.73 2,150,606.73上工申贝(集团)股份有限公司 2009 年半年度报告

    30

    和损失

    1．可供出售

    金融资产公

    允价值变动

    净额

    2,150,606.73 2,150,606.73

    2．权益法下

    被投资单位

    其他所有者

    权益变动的

    影响

    3．与计入所

    有者权益项

    目相关的所

    得税影响

    4．其他

    上述（一）

    和（二）小

    计

    2,150,606.73 -30,681,028.05 -28,530,421.32

    （三）所有

    者投入和减

    少资本

    1．所有者投

    入资本

    2．股份支付

    计入所有者

    权益的金额

    3．其他

    （四）利润

    分配

    1．提取盈余

    公积

    2．对所有者

    （或股东）

    的分配

    3．其他

    （五）所有

    者权益内部

    结转

    1．资本公积

    转增资本

    （或股本）

    2．盈余公积

    转增资本

    （或股本）

    3．盈余公积

    弥补亏损

    4．其他

    四、本期期

    末余额

    448,886,777.00 396,761,860.98 4,546,242.52 -574,556,007.25 275,638,873.25上工申贝(集团)股份有限公司 2009 年半年度报告

    31

    单位:元 币种:人民币

    上年同期金额

    项目

    股本 资本公积

    减：

    库存

    股

    盈余公积 未分配利润

    其

    它

    所有者权益合计

    一、上年年

    末余额

    448,886,777.00 409,298,191.49 4,546,242.52 -496,149,270.77 366,581,940.24

    加：会

    计政策变更

    前

    期差错更正

    其

    他

    二、本年年

    初余额

    448,886,777.00 409,298,191.49 4,546,242.52 -496,149,270.77 366,581,940.24

    三、本期增

    减变动金额

    （减少以

    “－”号填

    列）

    -13,284,042.48 -2,621,604.07 -15,905,646.55

    （一）净利

    润

    -2,621,604.07 -2,621,604.07

    （二）直接

    计入所有者

    权益的利得

    和损失

    -13,284,042.48 -13,284,042.48

    1．可供出售

    金融资产公

    允价值变动

    净额

    -13,284,042.48 -13,284,042.48

    2．权益法下

    被投资单位

    其他所有者

    权益变动的

    影响

    3．与计入所

    有者权益项

    目相关的所

    得税影响

    4．其他

    上述（一）

    和（二）小

    计

    -13,284,042.48 -2,621,604.07 -15,905,646.55

    （三）所有

    者投入和减

    少资本

    1．所有者投

    入资本

    2．股份支付

    计入所有者上工申贝(集团)股份有限公司 2009 年半年度报告

    32

    权益的金额

    3．其他

    （四）利润

    分配

    1．提取盈余

    公积

    2．对所有者

    （或股东）

    的分配

    3．其他

    （五）所有

    者权益内部

    结转

    1．资本公积

    转增资本

    （或股本）

    2．盈余公积

    转增资本

    （或股本）

    3．盈余公积

    弥补亏损

    4．其他

    四、本期期

    末余额

    448,886,777.00 396,014,149.01 4,546,242.52 -498,770,874.84 350,676,293.69

    法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:孟祥云上工申贝(集团)股份有限公司 2009 年半年度报告

    33

    （二）财务报表附注

    一、公司基本情况

    上工申贝（集团）股份有限公司（以下简称“本公司”或“公司”）为境内公开发行

    A、B 股股票并在上海证券交易所上市的股份有限公司，是中国缝制设备行业第一家上市

    公司。本公司于1994 年4 月注册成立，企业法人营业执照注册号: 310000400080303 号(市

    局)。本公司的注册资本为人民币448,886,777 元，注册地址为中国上海市浦东新区罗山

    路1201 号，总部办公地址为上海市浦东新区世纪大道1500 号12 楼，法定代表人为张敏

    先生。

    本公司以生产、销售工业用缝纫设备为主，主要产品有平缝、包缝、套结、钉扣、锁

    眼、双针、多针、链缝、绷缝及其他特种工业缝纫机共10 个大类，21 个系列，100 多个

    品种，主要产品以“上工牌”、“双工牌”、“蝴蝶牌”、“蜜蜂牌”、“飞人牌”为注

    册商标。本公司近年来积极进行新型缝纫设备的开发、研制，尤其是2005 年中成功地并

    购德国Dürkopp Adler AG 股份有限公司（一家注册在德国的上市公司，下称“德国DA

    公司”）后，本公司正在利用德国DA 公司的先进技术，对现有产品和新产品实施进一步

    升级、开发，并逐步将适应于亚洲市场的DA 产品转移到中国生产，以适应用户对自动化

    缝制设备日益增长的需求。

    同时，本公司的经营范围还包括物料传输、办公机械、影像器材的产销、商贸物流等

    多个领域。

    2006 年5 月 22 日公司股权分置改革相关股东大会决议通过：公司非流通股股东为

    使其持有的本公司非流通股获得流通权而向本公司流通股股东支付的对价为：流通股股东

    每持有 10 股将获得6 股的股份对价。实施上述送股对价后，公司股份总数不变，股份

    结构发生相应变化。截止 2009 年 6 月 30 日，股本总数为 448,886,777 股，均为无限

    售条件股份。

    二、财务报表的编制基础及遵循企业会计准则的声明

    公司以持续经营为基础，根据实际发生的交易和事项，按照《企业会计准则—基本准

    则》和其他各项会计准则的规定进行确认和计量，在此基础上编制财务报表。

    公司所编制的财务报表符合企业会计准则的要求，真实、完整地反映了公司的财务状

    况、经营成果、现金流量等有关信息。

    三、主要会计政策、会计估计和前期差错

    （一）会计期间

    自公历1 月1 日至12 月31 日止为一个会计年度。

    （二）记账本位币

    采用人民币为记账本位币。

    公司境外子公司以其经营所处的主要经济环境中的货币为记账本位币，编制财务报表

    时折算为人民币。

    （三）计量属性

    本公司在对会计报表项目进行计量时，一般采用历史成本计量。如所确定的会计要素

    金额能够取得并可靠计量则对个别会计要素采用重置成本、可变现净值、现值、公允价值

    计量。

    1、公允价值的计量属性

    在公允价值计量下，资产和负债按照在公平交易中，熟悉情况的交易双方自愿进行资

    产交换或者债务清偿的金额计量。

    公司报表项目中采用公允价值计量的项目包括：交易性金融资产、可供出售金融资产。上工申贝(集团)股份有限公司 2009 年半年度报告

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    公司按报告期末交易日的收盘价确认相关资产的公允价值。

    2、计量属性在本报告期发生变化的报表项目

    本报告期报表项目的计量属性未发生变化。

    （四）现金等价物的确定标准

    在编制现金流量表时，将同时具备期限短（从购买日起三个月内到期）、流动性强、

    易于转换为已知现金、价值变动风险很小四个条件的投资，确定为现金等价物。

    （五）外币业务核算方法

    外币业务采用交易发生日的即期汇率作为折算汇率折合成人民币记账。

    外币货币性项目余额按资产负债表日即期汇率折算，由此产生的汇兑差额，除属于与

    购建符合资本化条件的资产相关的外币专门借款产生的汇兑差额按照借款费用资本化的

    原则处理外，均计入当期损益。以历史成本计量的外币非货币性项目，仍采用交易发生日

    的即期汇率折算，不改变其记账本位币金额。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，由此产生的汇兑差额计入当期损益或资本公积。

    （六）外币财务报表的折算方法

    资产负债表中的资产和负债项目，采用资产负债表日的即期汇率折算；所有者权益项

    目除“未分配利润”项目外，其他项目采用发生时的即期汇率折算。利润表中的收入和费

    用项目，采用交易发生日的即期汇率折算，或采用按照系统合理的方法确定的、与交易发

    生日即期汇率近似的汇率折算。按照上述折算产生的外币财务报表折算差额，在资产负债

    表所有者权益项目下单独列示。

    在处置境外经营时，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

    外币财务报表折算差额，自所有者权益项目转入处置当期损益；部分处置境外经营的，按

    处置的比例计算处置部分的外币财务报表折算差额，转入处置当期损益。

    （七）金融资产和金融负债的核算方法

    1、金融资产和金融负债的分类

    管理层按照取得持有金融资产和承担金融负债的目的，将其划分为：以公允价值计量

    且其变动计入当期损益的金融资产或金融负债，包括交易性金融资产或金融负债；持有至

    到期投资；贷款和应收款项；可供出售金融资产；其他金融负债等。

    2、金融资产和金融负债的确认和计量方法

    （1）以公允价值计量且其变动计入当期损益的金融资产或金融负债

    取得时以公允价值（扣除已宣告但尚未发放的现金股利或已到付息期但尚未领取的债券利

    息）作为初始确认金额，相关的交易费用计入当期损益。

    持有期间将取得的利息或现金股利确认为投资收益，期末将公允价值变动计入当期损益。

    处置时，其公允价值与初始入账金额之间的差额确认为投资收益，同时调整公允价值变动

    损益。

    （2）应收款项

    公司对外销售商品或提供劳务形成的应收债权，以及公司持有的其他企业的不包括在

    活跃市场上有报价的债务工具的债权，包括应收账款、其他应收款、应收票据、预付账款、

    长期应收款等，以向购货方应收的合同或协议价款作为初始确认金额；具有融资性质的，

    按其现值进行初始确认。

    收回或处置时，将取得的价款与该应收款项账面价值之间的差额计入当期损益。

    （3）可供出售金融资产

    取得时按公允价值（扣除已宣告但尚未发放的现金股利或已到付息期但尚未领取的债

    券利息）和相关交易费用之和作为初始确认金额。

    持有期间将取得的利息或现金股利确认为投资收益。期末以公允价值计量且将公允价

    值变动计入资本公积（其他资本公积）。上工申贝(集团)股份有限公司 2009 年半年度报告

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    处置时，将取得的价款与该金融资产账面价值之间的差额，计入投资损益；同时，将

    原直接计入所有者权益的公允价值变动累计额对应处置部分的金额转出，计入投资损益。

    （4）其他金融负债

    按其公允价值和相关交易费用之和作为初始确认金额。采用摊余成本进行后续计量。

    3、金融资产转移的确认依据和计量方法

    公司发生金融资产转移时，如已将金融资产所有权上几乎所有的风险和报酬转移给转

    入方，则终止确认该金融资产；如保留了金融资产所有权上几乎所有的风险和报酬的，则

    不终止确认该金融资产。

    在判断金融资产转移是否满足上述金融资产终止确认条件时，采用实质重于形式的原

    则。公司将金融资产转移区分为金融资产整体转移和部分转移。金融资产整体转移满足终

    止确认条件的，将下列两项金额的差额计入当期损益：

    （1）所转移金融资产的账面价值；

    （2）因转移而收到的对价，与原直接计入所有者权益的公允价值变动累计额（涉及转移

    的金融资产为可供出售金融资产的情形）之和。

    金融资产部分转移满足终止确认条件的，将所转移金融资产整体的账面价值，在终止

    确认部分和未终止确认部分之间，按照各自的相对公允价值进行分摊，并将下列两项金额

    的差额计入当期损益：

    （1）终止确认部分的账面价值；

    （2）终止确认部分的对价，与原直接计入所有者权益的公允价值变动累计额中对应终止

    确认部分的金额（涉及转移的金融资产为可供出售金融资产的情形）之和。

    金融资产转移不满足终止确认条件的，继续确认该金融资产，所收到的对价确认为一

    项金融负债。

    4、金融资产和金融负债公允价值的确定方法

    本公司采用公允价值计量的金融资产和金融负债全部直接参考报告期末活跃市场中

    的报价。

    5、金融资产的减值准备

    可供出售金融资产的减值准备：

    期末如果可供出售金融资产的公允价值发生较大幅度下降，或在综合考虑各种相关因

    素后，预期这种下降趋势属于非暂时性的，就认定其已发生减值，将原直接计入所有者权

    益的公允价值下降形成的累计损失一并转出，确认减值损失。

    （八）应收款项坏账准备的确认标准和计提方法

    期末如果有客观证据表明应收款项发生减值，则将其账面价值减记至可收回金额，减

    记的金额确认为资产减值损失，计入当期损益。可收回金额是通过对其的未来现金流量（不

    包括尚未发生的信用损失）按原实际利率折现确定，并考虑相关担保物的价值（扣除预计

    处置费用等）。

    原实际利率是初始确认该应收款项时计算确定的实际利率。

    短期应收款项的预计未来现金流量与其现值相差很小，在确定相关减值损失时，不对

    其预计未来现金流量进行折现。

    期末对于单项金额重大的应收款项（包括应收账款、应收票据、预付账款、其他应收

    款、长期应收款等）单独进行减值测试。如有客观证据表明其发生了减值的，根据其未来

    现金流量现值低于其账面价值的差额，确认减值损失，计提坏账准备。

    对于期末单项金额非重大的应收款项，采用与经单独测试后未减值的应收款项一起按

    账龄作为类似信用风险特征划分为若干组合，再按这些应收款项组合在年末余额的一定比

    例（可以单独进行减值测试）计算确定减值损失，计提坏账准备。上工申贝(集团)股份有限公司 2009 年半年度报告

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    除已单独计提减值准备的应收款项外，公司根据以前年度与之相同或相类似的、按账

    龄段划分的具有类似信用风险特征的应收款项组合的实际损失率为基础，结合现时情况确

    定以下坏账准备计提的比例：

    应收款项账龄 提取比例

    1 年以内 5%

    1 年~2 年 20%

    2 年~3 年 50%

    3 年以上 100%

    （九）存货核算方法

    1、存货的分类

    存货分类为：在途物资、原材料、周转材料、库存商品、在产品、发出商品、委托加

    工物资等。

    2、发出存货的计价方法

    （1）存货发出时按加权平均法计价。

    （2）周转材料的摊销方法

    低值易耗品采用一次摊销法；

    包装物采用一次摊销法。

    3、存货的盘存制度

    采用永续盘存制。

    4、存货跌价准备的计提方法

    期末对存货进行全面清查后，按存货的成本与可变现净值孰低提取或调整存货跌价准

    备。产成品、库存商品和用于出售的材料等直接用于出售的商品存货，在正常生产经营过

    程中，以该存货的估计售价减去估计的销售费用和相关税费后的金额，确定其可变现净值；

    需要经过加工的材料存货，在正常生产经营过程中，以所生产的产成品的估计售价减去至

    完工时估计将要发生的成本、估计的销售费用和相关税费后的金额，确定其可变现净值；

    为执行销售合同或者劳务合同而持有的存货，其可变现净值以合同价格为基础计算，若持

    有存货的数量多于销售合同订购数量的，超出部分的存货的可变现净值以一般销售价格为

    基础计算。

    期末按照单个存货项目计提存货跌价准备；但对于数量繁多、单价较低的存货，按

    照存货类别计提存货跌价准备；与在同一地区生产和销售的产品系列相关、具有相同或类

    似最终用途或目的，且难以与其他项目分开计量的存货，则合并计提存货跌价准备。

    以前减记存货价值的影响因素已经消失的，减记的金额予以恢复，并在原已计提的存

    货跌价准备金额内转回，转回的金额计入当期损益。

    （十）长期股权投资的核算

    1、初始计量

    （1）企业合并形成的长期股权投资

    同一控制下的企业合并：公司以支付现金、转让非现金资产或承担债务方式以及以发

    行权益性证券作为合并对价的，在合并日按照取得被合并方所有者权益账面价值的份额作

    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合并对价之间的差

    额，调整资本公积；资本公积不足冲减的，调整留存收益。合并发生的各项直接相关费用，

    包括为进行合并而支付的审计费用、评估费用、法律服务费用等，于发生时计入当期损益。

    非同一控制下的企业合并：合并成本为购买日购买方为取得对被购买方的控制权而付出的

    资产、发生或承担的负债以及发行的权益性证券的公允价值，以及为企业合并而发生的各上工申贝(集团)股份有限公司 2009 年半年度报告

    37

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

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

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

    （2）其他方式取得的长期股权投资

    以支付现金方式取得的长期股权投资，按照实际支付的购买价款作为初始投资成本。

    以发行权益性证券取得的长期股权投资，按照发行权益性证券的公允价值作为初始投资成

    本。

    投资者投入的长期股权投资，按照投资合同或协议约定的价值（扣除已宣告但尚未发

    放的现金股利或利润）作为初始投资成本，但合同或协议约定价值不公允的除外。

    在非货币性资产交换具备商业实质和换入资产或换出资产的公允价值能够可靠计量

    的前提下，非货币性资产交换换入的长期股权投资以换出资产的公允价值为基础确定其初

    始投资成本，除非有确凿证据表明换入资产的公允价值更加可靠；不满足上述前提的非货

    币性资产交换，以换出资产的账面价值和应支付的相关税费作为换入长期股权投资的初始

    投资成本。

    通过债务重组取得的长期股权投资，其初始投资成本按照公允价值为基础确定。

    2、被投资单位具有共同控制、重大影响的依据

    按照合同约定对某项经济活动所共有的控制，仅在与该项经济活动相关的重要财务和

    经营决策需要分享控制权的投资方一致同意时存在，则视为与其他方对被投资单位实施共

    同控制；对一个企业的财务和经营决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，则视为投资企业能够对被投资单位施加重大影响。

    3、后续计量及收益确认

    公司能够对被投资单位施加重大影响或共同控制的，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差额，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差额，计入当期损

    益。

    公司对子公司的长期股权投资，采用成本法核算，编制合并财务报表时按照权益法进

    行调整。

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

    能可靠计量的长期股权投资，采用成本法核算。

    对被投资单位具有共同控制或重大影响的长期股权投资，采用权益法核算。

    成本法下公司确认投资收益，仅限于被投资单位接受投资后产生的累积净利润的分配

    额，所获得的利润或现金股利超过上述数额的部分作为初始投资成本的收回。

    权益法下在公司确认应分担被投资单位发生的亏损时，按照以下顺序进行处理：首先，

    冲减长期股权投资的账面价值。其次，长期股权投资的账面价值不足以冲减的，以其他实

    质上构成对被投资单位净投资的长期权益账面价值为限继续确认投资损失，冲减长期应收

    项目等的账面价值。最后，经过上述处理，按照投资合同或协议约定企业仍承担额外义务

    的，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盈利的，公司在扣除未确认的亏损分担额后，按与上述相反

    的顺序处理，减记已确认预计负债的账面余额、恢复其他实质上构成对被投资单位净投资

    的长期权益及长期股权投资的账面价值，同时确认投资收益。

    被投资单位除净损益以外所有者权益其他变动的处理：对于被投资单位除净损益以外

    所有者权益的其他变动，在持股比例不变的情况下，公司按照持股比例计算应享有或承担

    的部分，调整长期股权投资的账面价值，同时增加或减少资本公积（其他资本公积）。上工申贝(集团)股份有限公司 2009 年半年度报告

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    （十一）投资性房地产的种类和计量模式

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

    的土地使用权、持有并准备增值后转让的土地使用权、已出租的建筑物。

    公司对现有投资性房地产采用成本模式计量。对按照成本模式计量的投资性房地产－

    出租用建筑物采用与本公司固定资产相同的折旧政策，出租用土地使用权按与无形资产相

    同的摊销政策；对存在减值迹象的，估计其可收回金额，可收回金额低于其账面价值的，

    确认相应的减值损失。

    （十二）固定资产的计价和折旧方法

    1、固定资产确认条件

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

    会计年度的有形资产。固定资产在同时满足下列条件时予以确认：

    （1）与该固定资产有关的经济利益很可能流入企业；

    （2）该固定资产的成本能够可靠地计量。

    2、固定资产的分类

    固定资产分类为：房屋及建筑物、机器设备、运输设备、电子设备、固定资产装修及

    其他设备。

    3、固定资产的初始计量

    固定资产取得时按照实际成本进行初始计量。

    外购固定资产的成本，以购买价款、相关税费、使固定资产达到预定可使用状态前所

    发生的可归属于该项资产的运输费、装卸费、安装费和专业人员服务费等确定。

    购买固定资产的价款超过正常信用条件延期支付，实质上具有融资性质的，固定资产

    的成本以购买价款的现值为基础确定。

    自行建造固定资产的成本，由建造该项资产达到预定可使用状态前所发生的必要支出

    构成。

    债务重组取得债务人用以抵债的固定资产，以该固定资产的公允价值为基础确定其入

    账价值，并将重组债务的账面价值与该用以抵债的固定资产公允价值之间的差额，计入当

    期损益；

    在非货币性资产交换具备商业实质且换入资产或换出资产的公允价值能够可靠计量

    的前提下，换入的固定资产以换出资产的公允价值为基础确定其入账价值，除非有确凿证

    据表明换入资产的公允价值更加可靠；不满足上述前提的非货币性资产交换，以换出资产

    的账面价值和应支付的相关税费作为换入固定资产的成本，不确认损益。

    以同一控制下的企业吸收合并方式取得的固定资产按被合并方的账面价值确定其入

    账价值；以非同一控制下的企业吸收合并方式取得的固定资产按公允价值确定其入账价

    值。

    融资租入的固定资产，按租赁开始日租赁资产公允价值与最低租赁付款额现值两者中

    较低者作为入账价值。

    4、固定资产折旧计提方法

    固定资产折旧采用年限平均法分类计提，根据固定资产类别、预计使用寿命和预计净

    残值率确定折旧率。

    符合资本化条件的固定资产装修费用，在两次装修期间与固定资产尚可使用年限两者

    中较短的期间内，采用年限平均法单独计提折旧。

    各类固定资产预计使用寿命和年折旧率如下：

    固定资产类别 预计使用寿命（年） 预计净残值率 年折旧率

    房屋及建筑物 20-50 10% 1.8%-4.5%上工申贝(集团)股份有限公司 2009 年半年度报告

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    机器设备 5-15 10% 6%-18%

    运输设备 5-10 10% 9%-18%

    电子设备 5-10 10% 9%-18%

    固定资产装修 5-15 --- 6.6%-20%

    其他设备 5-10 10% 9%-18%

    （十三）在建工程核算方法

    1、在建工程类别

    在建工程以立项项目分类核算。

    2、在建工程结转为固定资产的标准和时点

    在建工程项目按建造该项资产达到预定可使用状态前所发生的全部支出，作为固定资

    产的入账价值。所建造的固定资产在建工程已达到预定可使用状态，但尚未办理竣工决算

    的，自达到预定可使用状态之日起，根据工程预算、造价或者工程实际成本等，按估计的

    价值转入固定资产，并按本公司固定资产折旧政策计提固定资产的折旧，待办理竣工决算

    后，再按实际成本调整原来的暂估价值，但不调整原已计提的折旧额。

    （十四）无形资产核算方法

    1、无形资产的计价方法

    按成本进行初始计量；

    外购无形资产的成本，包括购买价款、相关税费以及直接归属于使该项资产达到预定

    用途所发生的其他支出。购买无形资产的价款超过正常信用条件延期支付，实质上具有融

    资性质的，无形资产的成本以购买价款的现值为基础确定。

    债务重组取得债务人用以抵债的无形资产，以该无形资产的公允价值为基础确定其入

    账价值，并将重组债务的账面价值与该用以抵债的无形资产公允价值之间的差额，计入当

    期损益；

    在非货币性资产交换具备商业实质且换入资产或换出资产的公允价值能够可靠计量

    的前提下，非货币性资产交换换入的无形资产以换出资产的公允价值为基础确定其入账价

    值，除非有确凿证据表明换入资产的公允价值更加可靠；不满足上述前提的非货币性资产

    交换，以换出资产的账面价值和应支付的相关税费作为换入无形资产的成本，不确认损益。

    以同一控制下的企业吸收合并方式取得的无形资产按被合并方的账面价值确定其入

    账价值；以非同一控制下的企业吸收合并方式取得的无形资产按公允价值确定其入账价

    值。

    内部自行开发的无形资产，其成本包括：开发该无形资产时耗用的材料、劳务成本、注册

    费、在开发过程中使用的其他专利权和特许权的摊销以及满足资本化条件的利息费用，以

    及为使该无形资产达到预定用途前所发生的其他直接费用。

    2、无形资产使用寿命及摊销

    （1）使用寿命有限的无形资产的使用寿命估计情况：

    项 目 预计使用寿命

    土地使用权 50 年

    其 他 10 年

    期末，对使用寿命有限的无形资产的使用寿命及摊销方法进行复核。

    经复核，本期末无形资产的使用寿命及摊销方法与以前估计未有不同。

    （2）无形资产的摊销：

    对于使用寿命有限的无形资产，在为企业带来经济利益的期限内按直线法摊销；无法

    预见无形资产为企业带来经济利益期限的，视为使用寿命不确定的无形资产，不予摊销。上工申贝(集团)股份有限公司 2009 年半年度报告

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    （3）内部研究开发项目支出的会计处理：

    内部研究开发项目研究阶段的支出，在发生时计入当期损益。

    内部研究开发项目开发阶段的支出，同时满足下列条件时确认为无形资产：

    ①完成该无形资产以使其能够使用或出售在技术上具有可行性；

    ②具有完成该无形资产并使用或出售的意图；

    ③无形资产产生经济利益的方式，包括能够证明运用该无形资产生产的产品存在市场或无

    形资产自身存在市场，无形资产将在内部使用的，能够证明其有用性；

    ④有足够的技术、财务资源和其他资源支持，以完成该无形资产的开发，并有能力使用或

    出售该无形资产；

    ⑤归属于该无形资产开发阶段的支出能够可靠地计量。

    （十五）除存货、投资性房地产及金融资产外的其他主要资产的减值

    1、长期股权投资

    成本法核算的、在活跃市场中没有报价、公允价值不能可靠计量的长期股权投资，其

    减值损失是根据其账面价值与按类似金融资产当时市场收益率对未来现金流量折现确定

    的现值之间的差额进行确定。

    其他长期股权投资，如果可收回金额的计量结果表明，该长期股权投资的可收回金额

    低于其账面价值的，将差额确认为减值损失。

    长期股权投资减值损失一经确认，不再转回。

    2、固定资产、在建工程、无形资产、商誉等长期非金融资产

    对于固定资产、在建工程、无形资产等长期非金融资产，公司在期末判断相关资产是

    否存在可能发生减值的迹象。

    因企业合并所形成的商誉和使用寿命不确定的无形资产，无论是否存在减值迹象，期

    末都进行减值测试。

    资产存在减值迹象的，估计其可收回金额。可收回金额根据资产的公允价值减去处置

    费用后的净额与资产预计未来现金流量的现值两者之间较高者确定。

    当资产的可收回金额低于其账面价值的，将资产的账面价值减记至可收回金额，减记

    的金额确认为资产减值损失，计入当期损益，同时计提相应的资产减值准备。

    资产减值损失确认后，减值资产的折旧或者摊销费用在未来期间作相应调整，以使该

    资产在剩余使用寿命内，系统地分摊调整后的资产账面价值（扣除预计净残值）。

    长期非金融资产的减值损失一经确认，在以后会计期间不再转回。

    有迹象表明一项资产可能发生减值的，企业以单项资产为基础估计其可收回金额。

    （十六）借款费用资本化

    1、借款费用资本化的确认原则

    公司发生的借款费用，可直接归属于符合资本化条件的资产的购建或者生产的，予以

    资本化，计入相关资产成本；其他借款费用，在发生时根据其发生额确认为费用，计入当

    期损益。

    符合资本化条件的资产，是指需要经过相当长时间的购建或者生产活动才能达到预定

    可使用或者可销售状态的固定资产、投资性房地产和存货等资产。

    借款费用同时满足下列条件时开始资本化：

    （1）资产支出已经发生，资产支出包括为购建或者生产符合资本化条件的资产而以支付

    现金、转移非现金资产或者承担带息债务形式发生的支出；

    （2）借款费用已经发生；

    （3）为使资产达到预定可使用或者可销售状态所必要的购建或者生产活动已经开始。

    当符合资本化条件的资产在购建或者生产过程中发生非正常中断、且中断时间连续超过3

    个月的，借款费用暂停资本化。上工申贝(集团)股份有限公司 2009 年半年度报告

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    当购建或者生产符合资本化条件的资产达到预定可使用或者可销售状态时，借款费用

    停止资本化。

    当购建或者生产符合资本化条件的资产中部分项目分别完工且可单独使用时，该部分

    资产借款费用停止资本化。

    2、借款费用资本化期间

    资本化期间，指从借款费用开始资本化时点到停止资本化时点的期间，借款费用暂停

    资本化的期间不包括在内。

    3、借款费用资本化金额的计算方法

    专门借款的利息费用（扣除尚未动用的借款资金存入银行取得的利息收入或者进行暂

    时性投资取得的投资收益）及其辅助费用在所购建或者生产的符合资本化条件的资产达到

    预定可使用或者可销售状态前，予以资本化。

    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，计算确定一般借款应予资本化的利息金额。资本化率根据一般借款加权平均利

    率计算确定。

    借款存在折价或者溢价的，按照实际利率法确定每一会计期间应摊销的折价或者溢价

    金额，调整每期利息金额。

    （十七）收入确认原则

    1、销售商品

    公司已将商品所有权上的主要风险和报酬转移给购买方；公司既没有保留与所有权相

    联系的继续管理权，也没有对已售出的商品实施有效控制；收入的金额能够可靠地计量；

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

    商品销售收入实现。

    2、提供劳务

    在资产负债表日提供劳务交易的结果能够可靠估计的，采用完工百分比法确认提供劳

    务收入。提供劳务交易的完工进度，依据已完工作的测量确定。

    在资产负债表日提供劳务交易结果不能够可靠估计的，分别下列情况处理：

    （1）已经发生的劳务成本预计能够得到补偿的，按照已经发生的劳务成本金额确认提供

    劳务收入，并按相同金额结转劳务成本。

    （2）已经发生的劳务成本预计不能够得到补偿的，将已经发生的劳务成本计入当期损益，

    不确认提供劳务收入。

    3、让渡资产使用权

    与交易相关的经济利益很可能流入企业，收入的金额能够可靠地计量时确认收入实现。

    （十八）所得税

    所得税包括当期所得税费用和递延所得税费用。除由于企业合并产生的调整商誉，或

    与直接计入所有者权益的交易或者事项相关的计入所有者权益外，均作为所得税费用或收

    益计入当期损益。

    当期所得税费用是按照当期应纳税所得额计算的当期应交所得税金额。应纳税所得额

    系根据有关税法规定对本期税前会计利润作相应调整后得出。

    公司对于当期和以前期间形成的当期所得税负债或资产，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。

    公司根据资产与负债于资产负债表日的账面价值与计税基础之间的暂时性差异，采用

    资产负债表债务法计提递延所得税。

    各种应纳税暂时性差异均据以确认递延所得税负债，除非应纳税暂时性差异是在以下

    交易中产生的：上工申贝(集团)股份有限公司 2009 年半年度报告

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    1、商誉的初始确认，或者具有以下特征的交易中产生的资产或负债的初始确认：该交易

    不是企业合并，并且交易发生时既不影响会计利润也不影响应纳税所得额；

    2、对于与子公司、合营企业及联营企业投资相关的应纳税暂时性差异，该暂时性差异转

    回的时间能够控制并且该暂时性差异在可预见的未来很可能不会转回。

    对于可抵扣暂时性差异、能够结转以后年度的可抵扣亏损和税款抵减，公司以很可能

    取得用来抵扣可抵扣暂时性差异、可抵扣亏损和税款抵减的未来应纳税所得额为限，确认

    由此产生的递延所得税资产，除非可抵扣暂时性差异是在以下交易中产生的：

    1、该交易不是企业合并，并且交易发生时既不影响会计利润也不影响应纳税所得额；

    2、对于与子公司、合营企业及联营企业投资相关的可抵扣暂时性差异，同时满足下列条

    件的，确认相应的递延所得税资产：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。

    公司于资产负债表日，对于递延所得税资产和递延所得税负债，依据税法规定，按照

    预期收回该资产或清偿该负债期间的适用税率计量，并反映资产负债表日预期收回资产或

    清偿负债方式的所得税影响。

    资产负债表日，公司对递延所得税资产的账面价值进行复核。如果未来期间很可能无

    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，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。

    （十九）本期主要会计政策、会计估计的变更和重大会计差错更正及其影响：无

    四、税项

    公司主要税种和税率

    税 种 计税依据 税率

    增值税 销售额 17%

    营业税 营业额 5%

    企业所得税 应纳税所得额 25%、20%

    注：境外子公司按各国税法规定执行法定税率。

    五、合并财务报表

    合并财务报表按照2006 年2 月颁布的《企业会计准则第33 号—合并财务报表》执行。

    公司所控制的全部子公司均纳入合并财务报表的合并范围。

    合并财务报表以母公司和纳入合并范围的子公司的个别财务报表为基础，根据其他有

    关资料为依据，按照权益法调整对子公司的长期股权投资后，由母公司编制。合并时对内

    部权益性投资与子公司所有者权益、内部投资收益与子公司利润分配、内部交易事项、内

    部债权债务进行抵销。

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

    誉。合并成本小于合并中取得的被购买方可辨认净资产公允价值份额的，其差额计入当期

    损益。

    子公司所采用的会计政策与母公司保持一致。对于子公司所采用的会计政策与母公司

    不一致的，在编制合并财务报表时，已按母公司会计政策进行必要的调整。本节所列数据

    除非特别注明，金额单位为人民币万元。上工申贝(集团)股份有限公司 2009 年半年度报告

    43

    （一）子公司情况

    1、通过同一控制下的企业合并取得的子公司

    子公司名

    称

    子公

    司类

    型

    注册

    地

    业务

    性质

    注册资

    本

    经营范围

    本公司

    期末实

    际投资

    额

    实质上构

    成对子公

    司的净投

    资的余额

    本公

    司合

    计持

    股比

    例

    本公

    司合

    计享

    有的

    表决

    权比

    例

    是

    否

    合

    并

    报

    表

    上海申贝

    办公机械

    有限公司

    全资

    子公

    司

    上海

    办公

    机械

    设备

    等

    12,500

    办公机械

    设备等

    12,500 12,500 100% 100% 是

    上海蝴蝶

    进出口有

    限公司

    控股

    子公

    司

    上海

    缝制

    设备

    进出

    口等

    1,000

    各类缝制

    设备、机

    电产品等

    进出口

    800 800 80% 80% 是

    2、非企业合并方式取得的子公司

    子公司

    名称

    注册地

    业务性

    质

    注册资本 经营范围

    本公司期

    末实际投

    资额

    实质上构

    成对子公

    司的净投

    资的余额

    本公司

    合计持

    股比例

    本公司

    合计享

    有的表

    决权比

    例

    合并范

    围内表

    决权比

    例

    是否合

    并报表

    上工运

    输服务

    公司

    上海 运 输210 运 输 210 210 100% 100% 100% 是

    杜克普

    爱华贸

    易(上

    海）有

    限公司

    上海

    缝制设

    备进出

    口等

    USD400

    缝纫机械

    设备等批

    发、佣金代

    理和进出

    口

    USD160 USD296 74% 74% 74% 是

    上海上

    工进出

    口有限

    公司

    上海

    缝制设

    备进出

    口等

    2,880

    机电设备、

    仪表仪器

    等进出口

    2,880 2,880 100% 100% 100% 是

    上海双

    重包缝

    机有限

    公司

    上海

    缝制设

    备等

    1,200

    生产开发

    销售包缝

    机

    840 1,080 90% 90% 90% 是

    上海上

    工方天

    机械有

    限公司

    上海

    缝制设

    备等

    300

    工业缝纫

    机及其配

    件的生产

    和销售

    180 240 80% 80% 80% 是

    上海上

    工兴达

    衣车机

    械有限

    公司

    上海

    缝制设

    备等

    310

    曲折缝系

    列工业缝

    纫机的生

    产销售

    210 270 87.09% 87.09% 87.09% 是

    上海上

    工松达

    机械有

    限公司

    上海

    缝制设

    备等

    300

    生产销售

    缝纫设备

    及配件

    195 225 75% 75% 75% 是

    上海上

    工缝纫

    机有限

    上海

    缝制设

    备等

    2,700

    生产销售

    缝纫设备

    及配件

    2,700 2,700 100% 100% 100% 是上工申贝(集团)股份有限公司 2009 年半年度报告

    44

    子公司

    名称

    注册地

    业务性

    质

    注册资本 经营范围

    本公司期

    末实际投

    资额

    实质上构

    成对子公

    司的净投

    资的余额

    本公司

    合计持

    股比例

    本公司

    合计享

    有的表

    决权比

    例

    合并范

    围内表

    决权比

    例

    是否合

    并报表

    公司

    杜克普

    爱华工

    业制造

    （上

    海）有

    限公司

    上海

    缝制设

    备等

    USD1,000

    设计制造

    缝制设备、

    销售自产

    产品、提供

    积水服务

    和咨询

    USD700 USD1000 100% 100% 100% 是

    上海上

    工佳源

    机电有

    限公司

    上海

    缝制设

    备等

    300

    生产销售

    缝纫设备

    及配件

    201 216 72% 72% 72% 是

    上海工

    缝房地

    产发展

    有限公

    司

    上海

    房地产

    开发等

    500

    房地产开

    发、销售咨

    询物业管

    理

    450 450 90% 100% 100% 是

    上海索

    营置业

    有限公

    司

    上海

    房地产

    开发等

    1,300

    房地产开

    发等

    897 897 69% 69% 69% 是

    上海工

    业缝纫

    机物产

    总公司

    上海

    缝制设

    备等

    465

    缝制设备

    及零部件

    销售劳务

    服务

    465 465 100% 100% 100% 是

    上海永

    德经济

    发展有

    限公司

    上海

    机电设

    备销售

    等

    200

    机电设备

    销售等

    160 160 80% 80% 80% 是

    上海富

    华轻机

    有限公

    司

    上海

    生产销

    售服装

    机械

    USD100

    生产销售

    服装机械

    USD55 USD55 55% 55% 55% 是

    上工

    (欧洲)

    控股有

    限责任

    公司

    德国

    缝制设

    备等

    EUR1,000

    缝制设备

    等

    EUR1,000 EUR1,000 100% 100% 100% 是

    （二）本期合并报表范围的变更情况

    与上年同期相比，本期合并报表范围未发生变化。

    （三）子公司向母公司转移资金的能力受到严格限制的情况

    本报告期内无子公司向母公司转移资金的能力受到严格限制的情况。

    （四）少数股东权益和少数股东损益

    项 目 年初金额 本期少数股东损益

    增减

    其他增减 期末金额

    少数股东权益

    上工(欧洲)控股有限责任公司(注) 29,147,105.04 -10,042439.20 561,513.00 19,666,178.84

    上海申贝办公机械进出口有限公司 1,000,000.00 1,000,000.00

    上海索营置业有限公司 5,838,035.99 27,055.38 5,865,091.37

    萍乡市东旭房地产开发有限公司 299,675.92 -764.10 298,911.82

    上海上工佳源机电有限公司 2,079,072.53 -133,847.11 1,945,225.42

    上海上工方天机械有限公司 227,014.84 -35,305.79 191,709.05上工申贝(集团)股份有限公司 2009 年半年度报告

    45

    上海富华轻机有限公司 2,451,125.34 -56,998.88 2,394,126.46

    上海蝴蝶进出口有限公司 7,086,355.93 397,319.38 7,483,675.31

    上海永德经济发展有限公司 339,125.01 140,944.40 43,698.00 523,767.41

    上海上工松达机械有限公司 1,050,303.29 -1,129.42 1,049,173.87

    杜克普爱华贸易(上海）有限公司 6,010,318.72 -498,526.86 141.96 5,511,933.82

    上海上工兴达衣车机械有限公司 210,265.87 -289.47 209,976.40

    上海工缝房地产发展有限公司 500,000.00 500,000.00

    合 计 56,238,398.48 -10,203,981.67 605,352.96 46,639,769.77

    注:

    1、上工（欧洲）控股有限责任公司少数股东权益为其合并下属子公司报表形成, 少数股东权益其他增

    减为期初期末外币折算差额形成。

    2、上海永德经济发展有限公司少数股东权益其他增减为资本公积增加形成。

    3、杜克普爱华贸易(上海）有限公司少数股东权益其他增减为期初期末外币折算差额形成。

    六、合并财务报表主要项目注释

    （以下金额单位若未特别注明者均为人民币元）

    （一）货币资金

    期末余额 年初余额

    项 目

    原币金额 折算汇率 人民币金额 原币金额 折算汇率 人民币金额

    库存现金

    人民币 --- --- 1,032,718.88 --- --- 790,687.70

    欧 元 --- --- --- --- --- ---

    小 计 --- --- 1,032,718.88 --- --- 790,687.70

    银行存款

    人民币 --- --- 191,168,323.49 --- --- 161,270,303.32

    美 元 2,385,285.70 6.8319 16,296,033.37 4,170,200.16 6.8346 28,501,650.01

    欧 元 9,210,717.77 9.6408 88,798,687.88 18,489,010.95 9.6590 178,585,356.77

    日 元 --- --- --- 1.00 7.5650 7.57

    港 币 170,237.88 0.8815 150,064.69 299,676.40 8.8189 2,642,816.20

    小 计 --- --- 296,413,109.43 --- --- 371,000,133.87

    其他货币资金

    人民币 --- --- 10,543,912.64 --- --- 8,130,264.40

    小 计 --- --- 10,543,912.64 --- --- 8,130,264.40

    合 计 --- --- 307,989,740.95 --- --- 379,921,085.97

    其中受限制的货币资金明细如下：

    1、上工（欧洲）控股有限责任公司EUR100 万元授信额度保证金抵押给德国银行；

    2、上工（欧洲）控股有限责任公司EUR671,720 元存单抵押给FAG 库格福斯有限公司；

    3、定期存单1,233 万元质押给深圳发展银行上海分行。

    （二）交易性金融资产

    项 目 期末公允价值年初公允价值

    1、交易性权益工具投资 2,184,160.69 1,016,779.58

    2、其 他 339,417.68 206,688.97

    合 计 2,523,578.37 1,223,468.55上工申贝(集团)股份有限公司 2009 年半年度报告

    46

    交易性金融资产期末余额比年初余额增加1,300,109.82 元，增加比例为106.26%，

    增加原因主要为：本期股票的公允价值变动而增加的账面价值。

    （三）应收票据

    种 类 期末余额年初余额

    银行承兑汇票 2,150,192.00 1,517,662.30

    1、期末应收票据中无持本公司5％以上（含5％）表决权股份的股东单位票据。

    2、应收票据期末余额比年初余额增加632,529.70 元，增加比例为41.68%，增加原因主要为：本期银

    行承兑汇票增加。

    （四）应收账款

    1、应收账款构成

    期末余额 年初余额

    账 龄

    账面余额

    占总

    额比

    例

    坏账准备

    坏账

    准备

    比例

    账面余额

    占总

    额比

    例

    坏账准备

    坏账准

    备比例

    1、单项金额

    重大且单独

    计提减值准

    备

    61,267,284.00 15.12% 26,348,306.40 --- 50,584,183.00 11.45% 26,011,687.00 ---

    2、单项金额

    非重大且单

    独计提减值

    准备

    111,564,774.56 27.54% 15,703,678.15 --- 169,136,500.48 38.26% 17,511,242.42 ---

    3、其他划分

    为类似信用

    风险特征的

    组合：

    232,273,696.90 57.34% 122,992,805.49 --- 222,315,478.61 50.29% 122,176,677.84 ---

    其中：1 年以

    内（含1 年）

    102,438,300.04 25.29% 5,121,915.00 5% 95,105,078.71 21.52% 4,755,289.57 5%

    1 年至2

    年（含2 年）

    8,897,454.72 2.20% 1,779,490.94 20% 6,373,320.67 1.44% 1,274,664.14 20%

    2 年至3

    年（含3 年）

    9,693,085.17 2.39% 4,846,542.58 50% 9,380,710.43 2.12% 4,690,355.33 50%

    3 年以上 111,244,856.97 27.46% 111,244,856.97 100% 111,456,368.80 25.21% 111,456,368.80 100%

    合 计 405,105,755.46 100.00% 165,044,790.04 442,036,162.09 100.00% 165,699,607.26

    净 额 240,060,965.42 276,336,554.83

    2、应收账款坏账准备的变动如下：

    本期减少额

    年初账面余额 本期计提额

    转回 转销 其他

    期末账面余额

    2009 年

    半年度

    165,699,607.26 5,000,912.93 4,870,627.96 706,093.99 79,008.20 165,044,790.04

    3、期末单项金额非重大且单独计提减值准备的应收款项的期末余额为上工(欧洲)控股有

    限责任公司按单项金额单独测试计提减值准备。

    4、期末应收账款中无持本公司5％以上（含5％）表决权股份的股东单位欠款。

    5、应收账款期末余额中前五名金额合计为69,735,890.68 元，占应收账款总额的比例为

    17.21%。

    （五）预付款项

    账龄分析

    期末余额 年初余额

    账 龄

    金 额 占总额比例 金 额 占总额比例

    1 年以内（含1 年） 36,493,599.39 94.23% 35,364,377.20 99.39%

    1 年至2 年（含2 年） 2,163,480.72 5.59%

    193,187.32 0.54%上工申贝(集团)股份有限公司 2009 年半年度报告

    47

    2 年至3 年（含3 年） 54,699.00 0.14% 2,478.14 0.01%

    3 年以上 15,506.29 0.04% 21,687.15 0.06%

    合 计 38,727,285.40 100% 35,581,729.81 100.00%

    预付款项中无持本公司5％以上（含5％）表决权股份的股东单位欠款。

    （六）其他应收款

    1、其他应收款构成

    期末余额 年初余额

    账 龄

    账面余额

    占总额

    比 例

    坏账准备

    坏账

    准备

    比 例

    账面余额

    占总额比

    例

    坏账准备

    坏账

    准备

    比 例

    1、单项金额重大

    且单独计提减值

    准备

    --- --- --- --- --- --- --- ---

    2、单项金额非重

    大且单独计提减

    值准备

    18,868,923.15 21.04% --- --- 13,332,258.01 13.86% --- ---

    3、其他划分为类

    似信用风险特征

    的组合：

    70,793,314.82 78.96% 35,134,410.61 82,876,172.62 86.14% 35,790,303.19 ---

    其中：1 年以内

    （含1 年）

    30,835,059.77 34.39% 1,541,752.98 5% 44,346,249.56 46.09% 2,217,312.48 5%

    1 年至2 年

    （含2 年）

    5,566,746.80 6.21% 1,113,349.36 20% 2,927,403.66 3.04% 585,522.72 20%

    2 年至3 年

    （含3 年）

    3,824,399.97 4.27 1,912,199.99 50% 5,230,102.84 5.44% 2,615,051.43 50%

    3 年以上 30,567,108.28 34.09% 30,567,108.28 100% 30,372,416.56 31.57% 30,372,416.56 100%

    合 计 89,662,237.97 10.00% 35,134,410.61 96,208,430.63 100.00% 35,790,303.19 ---

    净 额 54,527,827.36 60,418,127.44

    2、其他应收款坏账准备的变动如下：

    本期减少额

    年初账面余额 本期计提额

    转回 转销

    期末账面余额

    2009 年半年度 35,790,303.19 403,883.00 1,059,775.58 --- 35,134,410.61

    3、期末其他应收款中无持本公司5％以上（含5％）表决权股份的股东单位欠款。

    4、其他应收款期末余额中前五名金额合计为27,517,233.66 元，占其他应收款总额的比

    例为30.69%。

    5、期末单项金额非重大且单独计提减值准备的其他应收款的期末余额为上工(欧洲)控股

    有限责任公司按单项金额单独测试计提减值准备。

    （七）存货及存货跌价准备

    期末余额 年初余额

    项 目

    账面余额 跌价准备 账面余额 跌价准备

    原材料 224,009,632.52 45,379,777.14 252,285,742.78 49,479,582.31

    在产品 157,136,023.13 31,267,634.90 158,065,029.20 31,115,016.40

    库存商品 203,411,245.03 30,586,124.88 209,194,217.31 32,796,972.58

    周转材料 2,631,847.17 --- 2,677,713.81 ---

    在途物资 5,077,322.57 --- 7,792,584.69 ---

    委托加工物资 2,849,733.35 213,840.31 2,760,833.60 213,840.31

    其 他 2,329,807.32 2,231,364.42 5,546,630.53 2,206,334.44

    合 计 597,445,611.09 109,678,741.65 638,322,751.92 115,811,746.04

    净 额 487,766,869.44 522,511,005.88上工申贝(集团)股份有限公司 2009 年半年度报告

    48

    存货跌价准备：

    本期减少额

    存货种类 年初账面余额 本期计提额

    转回 转销 其他

    期末账面余额

    原材料 49,479,582.31 --- 739,500.12 3,213,544.80 74,469.03 45,452,068.36

    在产品 31,115,016.40 202,914.84 --- --- 50,296.33 31,267,634.91

    库存商品 32,796,972.58 256,981.65 --- 2,481,705.07 33,079.14 30,539,170.02

    委托加工物资 213,840.31 --- --- --- --- 213,840.31

    其 他 2,206,334.44 --- --- --- 306.39 2,206,028.05

    合 计 115,811,746.04 459,896.49 739,500.12 5,695,249.87 158,150.89 109,678,741.65

    （八）其他流动资产

    项 目 期末余额年初余额

    租金、保险费 1,278,029.57 970,192.36

    合 计 1,278,029.57 970,192.36

    （九）可供出售金融资产

    1、构成类别：

    项 目 期末公允价值年初公允价值

    可供出售权益工具 6,685,726.41 4,420,579.68

    其中：无限售条件的可供出售股票 6,685,726.41 4,420,579.68

    合 计 6,685,726.41 4,420,579.68

    2、可供出售金融资产期末余额因被冻结而流通受限的股票如下：

    明细品种 数 量 期末公允价值

    上海三毛 658,830 5,791,115.70

    广电信息 28,989 156,250.71

    3、可供出售金融资产期末余额比年初余额增加2,265,146.73 元，增加比例为 51.24% ，

    增加原因为：本期股票的公允价值变动而增加的账面价值。

    （十）长期股权投资

    期末余额 年初余额

    账面余额 减值准备 账面余额 减值准备

    按权益法核算的长期股权

    投资

    联营企业 6,574,371.46 --- 6,574,371.46 ---

    小 计 6,574,371.46 --- 6,574,371.46 ---

    按成本法核算的长期股权

    投资

    37,694,397.74 1,246,848.25 37,694,397.74 1,246,848.25

    合 计 44,268,769.20 1,246,848.25 44,268,769.20 1,246,848.25

    净 额 43,021,920.95 43,021,920.95

    1、主要合营企业及联营企业信息 （金额单位：万元）

    被投资单位名称 企业类型

    注册

    地

    法定代

    表人

    业务

    性质

    注册资

    本

    本公司

    持股比

    例

    本公司在被

    投资单位表

    决权比例

    联营企业

    上海申贝光通信器材有

    限公司

    有限责任公

    司

    上海 徐祖海 工业170 30% 30%

    上海申贝长风碳棒有限

    公司

    有限责任公

    司

    上海 韩西圈 工业1,000 20.77% 20.77%上工申贝(集团)股份有限公司 2009 年半年度报告

    49

    （金额单位：万元）

    被投资单位名称 期末资产

    总额

    期末负债

    总额

    本期营业收入

    总额

    本期净

    利润

    关联关系 组织机构

    代码

    联营企业

    上海申贝光通信器材有

    限公司

    528.95 235.78 492.85 16.53 联营企业 74727118-3

    上海申贝长风碳棒有限

    公司

    2,133.58 1,398.08 1,347.38 -34.03 联营企业 76534013-8

    2、按权益法核算的长期股权投资

    本期权益增减额

    被投资单位 初始投资成本年初余额

    合 计

    其中：分回现金

    红利

    期末余额

    上海申贝光通信器材有限公司 510,000.00 967,937.25 --- --- 967,937.25

    上海申贝长风碳棒有限公司 2,076,800.00 1,598,160.62 --- --- 1,598,160.62

    常熟市启兴电镀五金有限责任

    公司

    2,520,000.00 2,242,183.36 --- --- 2,242,183.36

    上海豹驰长城印刷号码机械有

    限公司

    1,000,000.00 1,029,806.57 --- --- 1,029,806.57

    上海华之杰塑胶有限公司 1,766,689.38 736,283.66 --- --- 736,283.66

    合 计 7,873,489.38 6,574,371.46 --- --- 6,574,371.46

    3、按成本法核算的长期股权投资

    本期权益增减额

    被投资单位 初始投资成本年初余额

    合 计

    期末余额

    上海新光内衣厂（南非） 308,033.99 308,033.99 --- 308,033.99

    上海申丝企业发展有限公司 4,320,000.00 6,057,900.00 --- 6,057,900.00

    无锡上工缝纫机有限公司 153,814.26 153,814.26 --- 153,814.26

    上海华联缝制有限公司 400,000.00 400,000.00 --- 400,000.00

    上海富士施乐有限公司 29,140,749.49 29,140,749.49 --- 29,140,749.49

    上海上工佳荣衣车有限公司 500,000.00 500,000.00 --- 500,000.00

    上海南蝶缝制设备有限公司 285,000.00 285,000.00 --- 285,000.00

    上海宝鼎投资股份有限公司 7,500.00 7,500.00 --- 7,500.00

    上海银行漕溪信用社 551,400.00 551,400.00 --- 551,400.00

    中国浦发机械股份有限公司 90,000.00 90,000.00 --- 90,000.00

    申银万国证券股份有限公司 200,000.00 200,000.00 --- 200,000.00

    上海广濑精密工业有限公司 2,840,376.00 --- ---

    合 计 38,796,873.74 37,694,397.74 --- 37,694,397.74

    4、长期股权投资减值准备

    被投资单位 年初余额 本期增加 本期减少 期末余额

    上海新光内衣厂（南非） 308,033.99 --- --- 308,033.99

    无锡上工缝纫机有限公司 153,814.26 --- --- 153,814.26

    上海上工佳荣衣车有限公司 500,000.00 --- --- 500,000.00

    上海南蝶缝制设备有限公司 285,000.00 --- --- 285,000.00

    合 计 1,246,848.25 --- --- 1,246,848.25上工申贝(集团)股份有限公司 2009 年半年度报告

    50

    （十一）投资性房地产

    本期增加额 本期减少额

    项 目 年初余额

    购 置

    自用

    房地

    产或

    存货

    转入

    本期折旧或摊

    销

    转为

    自用

    房地

    产

    其他（注）

    期末余额

    1、原价合计 202,913,857.37 --- --- --- --- 1,829,468.72 201,084,388.65

    （1）房屋、建筑物 151,231,095.73 --- --- --- --- 1,829,468.72 149,401,627.01

    （2）土地使用权 51,682,761.64 --- --- --- --- --- 51,682,761.64

    2、累计折旧或累计摊销合

    计

    52,509,233.62 --- --- 2,578,424.20 --- 751,982.40 54,335,675.42

    （1）房屋、建筑物 47,197,099.07 --- --- 1,941,495.52 --- 751,982.40 48,386,612.19

    （2）土地使用权 5,312,134.55 --- --- 636,928.68 --- --- 5,949,063.23

    3、投资性房地产减值准备

    累计金额合计

    --- --- --- --- --- --- ---

    （1）房屋、建筑物 --- --- --- --- --- --- ---

    （2）土地使用权 --- --- --- --- --- --- ---

    4、投资性房地产账面价值

    合计

    150,404,623.75 --- --- -2,578,424.20 --- 1,077,486.32 146,748,713.23

    （1）房屋、建筑物 104,033,996.66 --- --- -1,941,495.52 --- 1,077,486.32 101,015,014.82

    （2）土地使用权 46,370,627.09 --- --- -636,928.68 --- --- 45,733,698.41

    注：投资性房地产本期其他减少为子公司上工(欧洲)控股有限责任公司期初期末外币报表折算汇率差

    形成。

    上述投资性房地产期末数中，部分房屋建筑物、土地使用权等作为抵押物向银行取得借款，详见本附

    注十（六）披露的抵押资产附注。

    （十二）固定资产原价及累计折旧

    1、固定资产原价

    类 别 年初余额 本期增加 本期减少 期末余额

    房屋及建筑物 432,776,139.63 5,969,727.16 569,785.66 438,176,081.13

    机器设备 669,903,481.82 15,465,796.27 10,136,681.98 675,232,596.11

    运输设备 27,342,446.40 618,412.33 2,138,920.98 25,821,937.75

    电子设备 12,759,964.55 675,461.82 45,755.92 13,389,670.45

    固定资产装修 867,396.40 --- 211,656.00 655,740.40

    其他设备 309,626,197.97 4,570,558.20 2,512,620.31 311,684,135.86

    合 计 1,453,275,626.77 27,299,955.78 15,615,420.85 1,464,960,161.70

    其中：本期由在建工程转入固定资产原价为 4,210,317.42 元。

    上述固定资产期末数中，部分房屋建筑物、土地使用权等作为抵押物向银行取得借款，详见本附注十

    （六）披露的抵押资产附注。

    2、累计折旧

    类 别 年初余额 本期增加 本期提取 本期减少 期末余额

    房屋及建筑物 254,835,924.42 1,123,928.65 5,655,404.95 --- 261,615,258.02

    机器设备 510,174,933.05 5,111,416.66 10,607,320.62 8,390,496.57 517,503,173.76

    运输设备 13,718,259.37 --- 951,239.23 1,482,240.33 13,187,258.27

    电子设备 7,331,148.41 362,340.18 203,650.52 39,851.46 7,857,287.65

    固定资产装修 463,584.93 --- 64,182.48 211,656.00 316,111.41

    其他设备 272,038,690.64 1,363,415.33 6,650,238.61 954,933.03 279,097,411.55

    合 计 1,058,562,540.82 7,961,100.82 24,132,036.41 11,079,177.39 1,079,576,500.66上工申贝(集团)股份有限公司 2009 年半年度报告

    51

    3、固定资产减值准备

    类 别 年初余额 本期增加本期减少期末余额

    房屋及建筑物 4,913,777.92 --- --- 4,913,777.92

    机器设备 70,198,101.93 --- --- 70,198,101.93

    其他设备 71,538.63 --- --- 71,538.63

    合 计 75,183,418.48 --- --- 75,183,418.48

    4、固定资产账面价值

    类 别 年初余额 本期增加 本期减少 期末余额

    房屋及建筑物 173,026,437.29 -809,606.44 569,785.66 171,647,045.19

    机器设备 89,530,446.84 -252,941.01 1,746,185.41 87,531,320.42

    运输设备 13,624,187.03 -332,776.24 656,731.31 12,634,679.48

    电子设备 5,428,816.14 109,471.12 5,904.46 5,532,382.80

    固定资产装修 403,811.47 -64,182.48 --- 339,628.99

    其他设备 37,515,968.70 -3,443,095.74 1,557,687.28 32,515,185.68

    合 计 319,529,667.47 -4,793,130.79 4,536,294.12 310,200,242.56

    （十三）在建工程

    期末余额 年初余额

    账面余额 减值准备 账面价值 账面余额 减值准备 账面价值

    3,219,467.47 --- 3,219,467.47 6,778,786.23 --- 6,778,786.23

    在建工程项目变动情况

    本期减少

    工程项目名称 年初余额 本期增加

    转入固定资产其他减少

    期末余额

    资

    金

    来

    源

    缝制设备工程 4,751,257.27 --- 4,140,508.13 95,719.77 515,029.37

    自

    筹

    ERP 项目 1,102,294.50 --- --- 65,752.00 1,036,542.50

    自

    筹

    电子设备 86,231.96 66,530.84 13,071.87 --- 139,690.93

    自

    筹

    机器设备 839,002.50 749,289.59 56,737.42 3,350.00 1,528,204.67

    自

    筹

    合 计 6,778,786.23 815,820.43 4,210,317.42 164,821.77 3,219,467.47

    注：本报告期公司未发生借款费用资本化事项。

    （十四）无形资产

    项 目 年初余额 本期增加 本期减少 期末余额

    1、原价合计 172,048,955.07 --- 126,263.42 171,922,691.65

    （1）土地使用权 104,802,826.90 --- --- 104,802,826.90

    （2）商标使用权 20,161,268.51 --- --- 20,161,268.51

    （3）电脑软件 175,650.00 --- --- 175,650.00

    （4）专利及非专利技术 46,771,461.46 --- 126,263.42 46,645,198.04

    （5）其 他 137,748.20 --- --- 137,748.20

    2、累计摊销额合计 57,594,512.52 3,681,863.92 154,252.80 61,122,123.64

    （1）土地使用权 10,828,321.41 1,149,162.96 --- 11,977,484.37

    （2）商标使用权 15,120,950.86 1,008,063.36 --- 16,129,014.22

    （3）电脑软件 26,347.50 8,782.50 --- 35,130.00

    （4）专利及非专利技术 31,595,296.28 1,508,967.72 154,252.80 32,950,011.20上工申贝(集团)股份有限公司 2009 年半年度报告

    52

    （5）其 他 23,596.47 6,887.38 --- 30,483.85

    3、无形资产减值准备累计

    金额合计

    --- --- --- ---

    （1）土地使用权 --- --- --- ---

    （2）专有技术 --- --- --- ---

    （3）电脑软件 --- --- --- ---

    （4）专利及非专利技术 --- --- --- ---

    （5）其 他 --- --- --- ---

    4、无形资产账面价值合计 114,454,442.55 -3,681,863.92 -27,989.38 110,800,568.01

    （1）土地使用权 93,974,505.49 -1,149,162.96 --- 92,825,342.53

    （2）商标使用权 5,040,317.65 -1,008,063.36 --- 4,032,254.29

    （3）电脑软件 149,302.50 -,8,782.50 --- 140,520.00

    （4）专利及非专利技术 15,176,165.18 -1,508,967.72 -27,989.38 13,695,186.84

    （5）其 他 114,151.73 -6,887.38 --- 107,264.35

    上述无形资产期末数中，部分土地使用权作为抵押物向银行取得借款，详见本附注十（六）披露的抵

    押资产附注。

    （十五）开发支出

    本期转出数

    类 别 年初余额

    本期增加 计入当期损益

    金额

    确认为

    无形资

    产金额

    期末余额

    开发支出 55,078,865.45 9,981,261.98 9,486,547.20 --- 55,573,580.23

    （十六）长期待摊费用

    种类 原始成本

    年初

    余额

    本年增加

    本年

    减少

    本年摊销 年末余额

    剩余摊销

    年限

    模具开发费

    1,714,881.20 --- 1,714,881.20 --- 140,504.09 1,574,377.11 5.5 年

    （十七）商誉

    本期变动

    被投资单位名称 年初余额

    本期增加 本期减少

    期末余额

    Beisler GmbH 28,142,462.40 --- 53,027.52 28,089,434.88

    商誉本期减少为子公司上工(欧洲)控股有限责任公司期初期末外币报表折算汇率差形成。

    （十八）递延所得税资产和递延所得税负债

    1、已确认的递延所得税资产

    项 目 期末余额年初余额

    （1）资产减值准备 17,173,590.30 19,816,471.75

    （2）可抵扣亏损 24,154,364.36 22,206,994.39

    合 计 41,327,954.66 42,023,466.14

    2、已确认的递延所得税负债

    项 目 期末余额年初余额

    （1）资产评估增值 20,723,771.35 19,844,442.50

    （2）其 他 17,897,518.55 17,393,214.04

    合 计 38,621,289.90 37,237,656.54上工申贝(集团)股份有限公司 2009 年半年度报告

    53

    （十九）资产减值准备

    本期减少额

    项 目 年初账面余额 本期计提额

    转回 转销 其他

    期末账面余额

    1、坏账准备 201,489,910.45 5,404,795.93 6,115,531.34 520,966.19 79,008.20 200,179,200.65

    2、存货跌价准备 115,811,746.04 459,896.49 355,649.11 6,079，100.88 158,150.89 109,678,741.65

    3、长期股权投资减值准

    备

    1,246,848.25 --- --- --- --- 1,246,848.25

    4、固定资产减值准备 75,183,418.48 --- --- --- --- 75,183,418.48

    合 计 393,731,923.22 5,864,692.42 6,471,180.45 6,600,067.07 237,159.09 386,288,209.03

    本期其他减少为子公司上工(欧洲)控股有限责任公司期初期末外币报表折算汇率差形成。

    （二十）短期借款

    借款类别 期末余额年初余额

    信用借款 348,148.62 348,148.62

    抵押借款 231,510,207.29 244,003,463.53

    保证借款 140,600,000.00 120,600,000.00

    合 计 372,458,355.91 364,951,612.15

    1、期末无已到期未偿还的借款。

    2、期末外币借款的外币金额为198,137.84 欧元，折算汇率 9.6408，折合人民币

    1,910,207.29 元。

    3、公司以部分资产作为抵押物向银行取得借款，详见披露的抵押资产附注十（六）。

    4、公司保证借款140,600,000.00 元，其中5,000,000.00 元由公司下属全资子公司上海

    申贝办公机械有限公司为上海申贝办公机械进出口有限公司担保取得；其中

    135,600,000.00 元由上海浦东发展（集团）有限公司担保取得,详见披露的抵押资产附注

    十（六）。

    （二十一）应付票据

    种 类 期末余额年初余额

    商业承兑汇票 6,651,389.81 6,025,913.96

    1、期末余额中无欠持本公司5％以上（含5％）表决权股份的股东票据金额。

    2、期末余额中无欠关联方票据金额。

    （二十二）应付账款

    期末余额年初余额

    141,094,226.16 154,286,725.16

    1、期末余额中无欠持本公司5％以上（含5％）表决权股份的股东单位款项。

    2、期末余额中无欠关联方款项。

    （二十三）预收款项

    期末余额年初余额

    81,475,766.00 89,348,979.40

    1、期末余额中无预收持本公司5％以上（含5％）表决权股份的股东单位款项。

    2、期末余额中无预收关联方款项。上工申贝(集团)股份有限公司 2009 年半年度报告

    54

    （二十四）应付职工薪酬

    项 目 年初余额 本期增加 本期支付 期末余额

    （1）工资、奖金、津

    贴和补贴

    35,753,168.29 206,350,156.28 199,584,986.93 42,518,337.64

    （2）职工福利费 --- 52,747,899.97 52,747,899.97 ---

    （3）社会保险费 490,591.75 11,457,485.10 11,446,308.90 501,767.95

    （4）住房公积金 --- 2,405,244.75 2,405,244.75 ---

    （5）工会经费和职工

    教育经费

    568,603.95 611,630.41 590,198.45 590,035.91

    （6）因解除劳动关系

    给予的补偿

    --- 1,843,709.84 1,843,709.84 ---

    （7）其 他 184,057.12 15,472.20 176,467.54 23,061.78

    其中：以现金结算的股

    份支付

    --- --- --- ---

    合 计 36,996,421.11 275,431,598.55 268,794,816.38 43,633,203.28

    注：期末余额中主要为上工欧洲（控股）有限公司根据企业所在国的法律规定计算提取的退休人员工

    资及其他员工奖金等。

    （二十五）应交税费

    税费项目 期末余额 年初余额 计缴标准

    增值税 -359,285.88 -2,473,821.09 17%

    营业税 155,457.23 111,607.58 5%

    城建税 89,412.30 98,630.11 7%、1%

    企业所得税 -1,441,346.38 7,240,808.78 25%、20%

    个人所得税 6,603,665.34 6,631,422.74

    房产税 300,691.52 203,521.88

    土地增值税 --- 587,797.49

    印花税 31,979.00 31,979.00

    教育费附加 33,977.84 35,322.02

    堤防费 5,951.14 5,951.14

    河道管理费 803.28 3,294.78

    其 他 845.34 812.84

    合 计 5,422,150.73 12,477,327.27

    注：境外子公司按各国税法规定执行法定税率。

    应交税费期末余额比年初余额减少7,055,176.54 元，减少比例为56.54％，主要原因为：本期支付应

    交所得税而减少期末余额。

    （二十六）其他应付款

    期末余额年初余额

    121,742,823.31 121,566,474.38

    1、期末余额中无欠持本公司5％以上（含5％）表决权股份的股东单位款项。

    2、期末余额中无欠关联方款项。

    （二十七）一年内到期的非流动负债

    项 目 期末余额年初余额

    长期借款 520,000.00 520,000.00上工申贝(集团)股份有限公司 2009 年半年度报告

    55

    （二十八）其他流动负债

    项目及内容 期末余额年初余额

    合 计 585,151.63 891,742.25

    期初期末余额均系公司的子公司上工（欧洲）控股有限公司提前收到的归属于以后期间的利息和租金。

    （二十九）长期借款

    借款类别 期末余额年初余额

    信用借款 1,489,984.87 1,489,984.87

    （三十）长期应付款

    项 目 期末余额年初余额

    FAG 贷款 202,776,947.44 203,159,752.11

    其 他 1,832,234.60 1,832,334.37

    合 计 204,609,182.04 204,992,086.48

    FAG 贷款系上工（欧洲）控股有限责任公司对德国DA 公司原大股东FAG Kugelfischer GmbH 的欠款。

    （三十一）预计负债

    项 目 期末余额年初余额

    养老金 382,867,357.92 395,680,935.00

    对外提供担保 35,546,274.60 35,546,274.60

    其 他 12,958,706.29 13,782,478.00

    合 计 431,372,338.81 445,009,687.60

    1、养老金系德国DA 公司根据德国的法律计算提取的职工养老金等款项。

    2、对外提供担保是指公司为上海华源企业发展股份有限公司借款提供担保形成的或有负债。

    （三十二）股本

    本公司已注册发行及实收股本如下：

    期末余额 年初余额

    股数 金 额 股数 金 额

    有限售条件的股份 --- --- 64,830,980 64,830,980.00

    A 股 （每股面值人民币1

    元）

    204,943,027 204,943,027.00 140,112,047 140,112,047.00

    B 股 （每股面值人民币1

    元）

    243,943,750 243,943,750.00 243,943,750 243,943,750.00

    合 计 448,886,777 448,886,777.00 448,886,777 448,886,777.00

    本期公司股本变动金额如下：

    年初余额 本期变动增（+）减（－） 期末余额

    项 目

    金额 比例％

    发

    行

    新

    股

    送

    股

    公

    积

    金

    转

    股

    其他 小计 金额 比例％

    1、有限

    售条件

    股份

    (1) 国

    家持股

    64,830,980.00 14.44 -64,830,980.00. -64,830,980.00 --- ---

    (2) 国

    有法人

    持股

    --- --- --- --- --- --- --- --- ---

    (3) 其

    他内资

    持股

    --- --- --- --- --- --- --- --- ---

    其中：上工申贝(集团)股份有限公司 2009 年半年度报告

    56

    年初余额 本期变动增（+）减（－） 期末余额

    项 目

    金额 比例％

    发

    行

    新

    股

    送

    股

    公

    积

    金

    转

    股

    其他 小计 金额 比例％

    境内法

    人持股

    --- --- --- --- --- --- --- --- ---

    境内自

    然人持

    股

    --- --- --- --- --- --- --- --- ---

    (4) 外

    资持股

    --- --- --- --- --- --- --- --- ---

    其中：

    境外法

    人持股

    --- --- --- --- --- --- --- --- ---

    境外自

    然人持

    股

    --- --- --- --- --- --- --- --- ---

    有限售

    条件股

    份合计

    64,830,980.00 14.44 --- --- --- -64,830,980.00 -64,830,980.00 --- ---

    2、无限

    售条件

    流通股

    份

    (1) 人

    民币普

    通股

    140,112,047.00 31.21 --- --- --- 64,830,980.00 64,830,980.00 204,943,027.00 45,65

    (2) 境

    内上市

    的外资

    股

    243,943,750.00 54.35 --- --- --- --- --- 243,943,750.00 54.35

    (3) 境

    外上市

    的外资

    股

    --- --- --- --- --- --- --- --- ---

    (4) 其

    他

    --- --- --- --- --- --- --- --- ---

    无限售

    条件流

    通股份

    合计

    384,055,797.00 85.56 --- --- --- 64,830,980.00 64,830,980.00 448,886,777.00 100.00

    合 计 448,886,777.00 100.00 --- --- --- --- --- 448,886,777.00 100.00

    （三十三）资本公积

    项 目 年初余额 本期增加 本期减少 期末余额

    1、资本溢价（股本溢

    价）

    313,159,549.73 --- --- 313,159,549.73

    2、其他资本公积 75,839,961.88 6,574,619.11 --- 82,414,580.99

    3、公允价值计量变动 1,949,359.68 2,150,606.73 --- 4,099,966.41

    合 计 390,948,871.29 8,725,225.84 --- 399,674,097.13

    资本公积期末余额比年初余额增加8,725,225.84 元，增加比例为2.23％，增加原因为：本期可供出

    售金融资产公允价值变动增加及权益法下被投资公司资本公积增加形成。上工申贝(集团)股份有限公司 2009 年半年度报告

    57

    （三十四）盈余公积

    项 目 年初余额 本年增加 本年减少 年末余额

    法定盈余公积 2,273,121.26 --- --- 2,273,121.26

    任意盈余公积 2,273,121.26 --- --- 2,273,121.26

    合 计 4,546,242.52 --- --- 4,546,242.52

    （三十五）未分配利润

    项 目 金 额

    上年年末余额 -315,467,421.74

    加：会计政策变更 ---

    前期差错更正 ---

    本年年初余额 -315,467,421.74

    加： 本期归属于母公司的净利润 -131,415,724.73

    减：提取法定盈余公积 ---

    提取任意盈余公积 ---

    应付普通股股利 ---

    本期期末余额 -446,883,146.47

    （三十六）营业收入及营业成本

    本期金额 上期金额

    项 目

    收 入 成 本 收 入 成 本

    主营业务 735,028,453.93 662,248,334.00 1,136,302,494.78 872,133,384.94

    其他业务 19,353,585.16 5,513,587.44 26,504,225.51 18,751,269.00

    合 计 754,382,039.09 667,761,921.44 1,162,806,720.29 890,884,653.94

    1、按业务类别列示主营业务收入、主营业务成本

    本期金额 上期金额

    项 目

    主营业务收入 主营业务成本 主营业务收入 主营业务成本

    缝制设备 420,782,498.62 384,747,614.76 678,934,820.04 463,790,811.44

    物料传输

    设备

    137,429,604.00

    110,464,286.40 216,148,131.60

    179,586,376.40

    出口代理 111,189,090.34 108,583,798.01 184,187,028.31 178,352,243.15

    办公机械 13,853,547.22 13,097,914.79 16,213,006.03 14,895,478.89

    影像器材 49,123,161.03 44,351,654.01 36,710,991.48 33,549,986.23

    其 他 2,650,552.72 1,003,066.03 4,108,517.32 1,958,488.83

    合 计 735,028,453.93 662,248,334.00 1,136,302,494.78 872,133,384.94

    2、按业务类别列示其他业务收入、其他业务成本

    本期金额 上期金额

    项 目

    其他业务收入 其他业务成本 其他业务收入 其他业务成本

    材料销售 1,918,467.77 1,901,658.62 3,863,800.61 3,601,642.44

    租赁收入 12,111,881.12 2,206,822.74 14,105,756.29 680,018.09

    服务收入 202,226.00 --- 20,754.63 ---

    其 他 5,121,010.27 1,405,106.08 8,513,913.98 14,469,608.47

    合 计 19,353,585.16 5,513,587.44 26,504,225.51 18,751,269.00上工申贝(集团)股份有限公司 2009 年半年度报告

    58

    3、按地区类别列示主营业务收入、主营业务成本

    本期金额 上期金额

    地 区

    主营业务收入 主营业务成本 主营业务收入 主营业务成本

    境 内 424,170,664.35 399,357,875.23 408,031,918.49 368,019,183.75

    境 外 353.376.589.28 305,409,258.47 767,601,552.49 543,445,177.39

    小 计 777,547,253.63 704,767,133.70 1,175,633,470.98 911,464,361.14

    减：公

    司内部

    销售相

    互抵销

    42,518,799.70

    42,518,799.70 39,330,976.20

    39,330,976.20

    合 计 735,028,453.93 662,248,334.00 1,136,302,494.78 872,133,384.94

    注：境内、境外系公司各销售主体注册所在地。

    4、主营业务收入本年发生额中前五名金额合计为105,711,372.00 元，占主营业务收入总

    额的比例为14.38%。

    （三十七）营业税金及附加

    项 目 本期金额 上期金额

    营业税 853,128.53 902,582.70

    城建税 218,378.70 205,325.44

    房产税 1,070,251.97 1,033,451.96

    教育费附加 93,590.90 95,018.17

    其 他 26,098.86 21,248.27

    合 计 2,261,448.96 2,257,626.54

    （三十八）财务费用

    项 目 本期金额上期金额

    利息支出 30,954,240.27 34,417,271.44

    减：利息收入 2,109,730.61 6,721,994.43

    汇兑损失 --- 1,089,599.23

    减：汇兑收益 519,225.33 ---

    其 他 1,318,743.94 187,328.07

    合 计 29,644,028.27 28,972,204.31

    （三十九）资产减值损失

    项 目 本期金额上期金额

    1、坏账损失 -525,607.61 -10,484,021.99

    2、存货跌价损失 -279,603.63 1,077,894.07

    合 计 -805,211.24 -9,406,127.92

    （四十）公允价值变动收益

    产生公允价值变动收益的来源 本期金额上期金额

    金融资产 872,969.06 -1,199,901.75上工申贝(集团)股份有限公司 2009 年半年度报告

    59

    （四十一）投资收益

    项 目 本期金额 上期金额

    1、金融资产投资收益

    （1）处置交易性金融资产取得的投资收益 83,559.33 66,703.36

    （2）处置可供出售金融资产取得的投资收益 103,950.00 ---

    2、长期股权投资收益

    （1）按成本法核算确认的长期股权投资收益 15,163,686.35 13,557,837.51

    （2）按权益法核算确认的长期股权投资收益 --- 10,146.78

    （3）处置长期股权投资产生的投资收益 --- ---

    合 计 15,351,195.68 13,634,687.65

    其中：

    按成本法核算确认的长期股权投资收益主要包括：

    被投资单位 本期金额

    上海广濑精密工业有限公司 750,000.00

    上海富士施乐有限公司 11,637,292.77

    上海申丝企业发展有限公司 2,776,393.58

    本公司投资收益汇回无重大限制。

    （四十二）营业外收入

    项 目 本期金额上期金额

    1、非流动资产处置利得合计 813,631.96 25,407,564.46

    其中：固定资产处置利得 813,631.96 25,407,564.46

    2、非货币性资产交换利得 --- ---

    3、债务重组利得 --- ---

    4、接受捐赠利得 --- ---

    5、政府补助 152,800.00 ---

    6、其 他 379,123.32 615,369.08

    合 计 1,345,555.28 26,022,933.54

    营业外收入本期金额比上年同期金额减少24,677,378.26 元，减少比例为94.83%，

    减少原因为：同比减少地块动迁补偿收入。

    （四十三）营业外支出

    项 目 本期金额上期金额

    1、非流动资产处置损失合计 329,952.27 486,904.75

    其中：固定资产处置损失 329,952.27 486,904.75

    无形资产处置损失 --- ---

    2、非货币性资产交换损失 --- ---

    3、债务重组损失 --- ---

    4、对外捐赠支出 --- 211,500.00

    其中：公益性捐赠支出 --- 211,500.00

    5、非常损失 1,882,665.72 ---

    6、盘亏损失 --- ---

    7、罚款滞纳金支出 --- 6,888.39

    8、赔偿支出 --- ---

    9、其 他 8,037.29 30,109.10

    合 计 2,220,655.28 735,402.24上工申贝(集团)股份有限公司 2009 年半年度报告

    60

    营业外支出本期金额比上年同期金额增加1,485,253.04 元，增加比例为201.96% ，

    增加原因为：同比增加停工损失。

    （四十四）所得税费用

    项 目 本期金额上期金额

    当期所得税费用 973,638.14 3,652,319.96

    递延所得税费用 98,260.09 -779,593.97

    合 计 1,071,898.23 2,872,725.99

    （四十五）政府补助

    政府补助的种类及项目 本期金额上期金额

    收到的与收益相关的政府补助

    （1）产业发展专项扶助款 147,800.00 ---

    （2）商标补贴款 5,000.00 ---

    合 计 152,800.00

    （四十六）现金流量表附注

    1、收到的其他与经营活动有关的现金

    项 目 本期金额

    收回往来款 11,275,423.37

    专项补贴、补助款 152,800.00

    利息收入 2,109,730.61

    合 计 13,537,953.98

    2、支付的其他与经营活动有关的现金

    项 目 本期金额

    企业间往来 15,141,001.59

    销售费用支出 30,628,565.94

    管理费用支出 25,637,672.96

    银行手续费 1,318,743.94

    营业外支出 8,037.29

    合 计 72,734,021.72

    3、支付其他与筹资活动有关的现金

    项 目 本期金额

    银行存单、保证金等质押、抵押 2,355,326.38

    合 计 2,355,326.38

    4、现金流量表补充资料

    项 目 本期金额 上期金额

    一、将净利润调节为经营活动现金流量

    净利润 -141,619,706.40 11,094,701.57

    加：资产减值准备 -805,211.24 -11,981,330.42

    固定资产折旧、油气资产折耗、生产性生物资产折旧 24,021,831.65 34,499,079.30

    无形资产摊销 13,168,411.12 13,735,033.01

    长期待摊费用摊销 140,504.09上工申贝(集团)股份有限公司 2009 年半年度报告

    61

    项 目 本期金额 上期金额

    处置固定资产、无形资产和其他长期资产的损失（收益

    以“－”号填列）

    -803,925.03 -25,407,564.46

    固定资产报废损失（收益以“－”号填列） 320,245.34 486,904.75

    公允价值变动损失（收益以“－”号填列） -872,969.06 1,199,901.75

    财务费用（收益以“－”号填列） 31,753,758.88 35,694,198.74

    投资损失（收益以“－”号填列） -15,351,195.68 -13,634,687.65

    递延所得税资产减少（增加以“－”号填列） 695,511.48 -5,626,621.52

    递延所得税负债增加（减少以“－”号填列） 1,383,633.36 5,806,582.25

    存货的减少（增加以“－”号填列） 40,877,140.83 -130,931,758.47

    经营性应收项目的减少（增加以“－”号填列） -18,010,581.38 28,851,309.37

    经营性应付项目的增加（减少以“－”号填列） -22,043,003.52 33,040,183.31

    其 他 --- ---

    经营活动产生的现金流量净额 -87,145,555.56 -23,174,068.47

    二、不涉及现金收支的重大投资和筹资活动

    债务转为资本 --- ---

    一年内到期的可转换公司债券 --- ---

    融资租入固定资产 --- ---

    三、现金及现金等价物净变动情况

    现金的期末余额 279,543,022.77 349,214,461.51

    减：现金的年初余额 353,799,316.68 438,292,840.47

    加：现金等价物的期末余额 ---

    减：现金等价物的年初余额 ---

    现金及现金等价物净增加额 -74,256,293.91 -89,078,378.96

    5、现金和现金等价物的构成：

    项 目 期末余额 年初余额

    一、现 金 279,543,022.77 353,799,316.68

    其中：库存现金 1,032,718.88 790,687.70

    可随时用于支付的银行存款 267,966,391.25 344,878,364.58

    可随时用于支付的其他货币资金 10,543,912.64 8,130,264.40

    可用于支付的存放中央银行款项 --- ---

    存放同业款项 --- ---

    拆放同业款项 --- ---

    二、现金等价物 --- ---

    其中：三个月内到期的债券投资 --- ---

    三、年末现金及现金等价物余额 279,543,022.77 353,799,316.68

    其中：母公司或集团内子公司使用受限制的现金

    和现金等价物

    --- ---

    七、母公司财务报表主要项目注释

    （一）应收账款

    期末余额 年初余额

    账 龄

    账面余额

    占总额

    比 例

    坏账准备

    坏账准备

    比 例

    账面余额

    占总额

    比 例

    坏账准备

    坏账准备

    比 例

    1、单项金额

    重大且单独

    计提减值准

    备

    --- --- --- ---

    --- --- --- ---上工申贝(集团)股份有限公司 2009 年半年度报告

    62

    2、单项金额

    非重大且单

    独计提减值

    准备

    --- --- --- --- --- --- --- ---

    3、其他划分

    为类似信用

    风险特征的

    组合：

    109,990,236.40 100.00% 84,271,732.45 --- 111,954,451.89 100.00% 84,258,030.56 ---

    其中：1 年以

    内（含1 年）

    23,205,629.05 21.10% 1,160,281.45 5% 24,708,786.86 22.07% 1,235,439.34 5%

    1 年至2 年

    （含2 年）

    684,513.21 0.62% 136,902.64 20% 1,057,734.54 0.94% 211,546.91 20%

    2 年至3 年

    （含3 年）

    6,251,091.57 5.68% 3,125,545.79 50% 6,753,772.38 6.03% 3,376,886.20 50%

    3 年以上 79,849,002.57 72.60% 79,849,002.57 100% 79,434,158.11 70.96% 79,434,158.11 100%

    合 计 109,990,236.40 100.00% 84,271,732.45 111,954,451.89 100.00% 84,258,030.56

    净 额 25,718,503.95 27,696,421.33

    2、应收账款坏账准备的变动如下：

    本期减少额

    年初账面余额 本期计提额

    转回 转销

    期末账面余额

    2009 年半年度 84,258,030.56 582,683.54 568,981.65 --- 84,271,732.45

    3、期末应收账款中无持本公司5％以上（含5％）表决权股份的股东单位欠款。

    4、应收账款期末余额中前五名金额合计为35,652,285.90 元，占应收账款总额的比例为

    32.41%。

    （二）其他应收款

    期末余额 年初余额

    账

    龄 账面余额

    占总额

    比 例

    坏账准备

    坏账准

    备比 例

    账面余额

    占总额

    比 例

    坏账准备

    坏账准

    备比 例

    1、单

    项金

    额重

    大且

    单独

    计提

    减值

    准备

    --- --- --- --- --- --- --- ---

    2、单

    项金

    额非

    重大

    且单

    独计

    提减

    值准

    备

    --- --- --- --- --- --- --- ---上工申贝(集团)股份有限公司 2009 年半年度报告

    63

    期末余额 年初余额

    账

    龄 账面余额

    占总额

    比 例

    坏账准备

    坏账准

    备比 例

    账面余额

    占总额

    比 例

    坏账准备

    坏账准

    备比 例

    3、其

    他划

    分为

    类似

    信用

    风险

    特征

    的组

    合：

    96,882,361.44 100.00% 23,595,682.89 --- 91,095,172.68 100.00% 23,322,255.22 ---

    其

    中：1

    年以

    内

    （含

    1 年）

    74,430,472.96 76.83% 3,721,523.65 5.00% 69,003,153.09 75.75% 3,450,157.65 5.00%

    1 年

    至2

    年

    （含

    2 年）

    2,349,737.80 2.43% 469,947.56 20.00% 1,590,981.21 1.75% 318,196.23 20.00%

    2 年

    至3

    年

    （含

    3 年）

    1,395,878.00 1.44% 697,939.00 50.00% 1,894,274.10 2.08% 947,137.06 50.00%

    3 年

    以上

    18,706,272.68 19.30% 18,706,272.68 100.00% 18,606,764.28 20.42% 18,606,764.28 100.00%

    合

    计

    96,882,361.44 100.00% 23,595,682.89 --- 91,095,172.68 100.00% 23,322,255.22 ---

    净

    额

    73,286,678.55 67,772,917.46

    2、其他应收款坏账准备的变动如下：

    本期减少额

    年初账面余额 本期计提额

    转回 转销

    期末账面余额

    2009 年

    半年度

    23,322,255.22 273,427.67 --- --- 23,595,682.89

    3、期末其他应收款中无持本公司5％以上（含5％）表决权股份的股东单位欠款。

    4、其他应收款期末余额中前五名金额合计为69,210,953.81 元，占其他应收款总额的比

    例为71.44%。

    （三）长期股权投资

    期末余额 年初余额

    账面余额 减值准备 账面余额 减值准备

    按成本法核算的长期股

    权投资

    549,510,311.02 8,861,848.25 549,510,311.02 8,861,848.25

    合 计 549,510,311.02 8,861,848.25 549,510,311.02 8,861,848.25

    净 额 540,648,462.77 540,648,462.77上工申贝(集团)股份有限公司 2009 年半年度报告

    64

    1、按成本法核算的对子公司长期股权投资

    本期权益增减额

    被投资单位 初始投资成本年初余额

    合 计

    期末余额

    杜可普爱华工业制造（上海）有

    限公司

    53,223,926.00 53,223,926.00 ---

    53,223,926.00

    上海工缝房地产发展有限公司 4,500,000.00 4,500,000.00 --- 4,500,000.00

    上海上工兴达衣车机械有限公

    司

    2,100,000.00 2,100,000.00 ---

    2,100,000.00

    杜克普爱华贸易（上海）有限公

    司

    11,830,443.11 11,830,443.11

    11,830,443.11

    上海工业缝纫机物产总公司 4,600,000.00 4,600,000.00 --- 4,600,000.00

    上海上工松达机械有限公司 1,950,000.00 1,950,000.00 --- 1,950,000.00

    上海上工汽车运输服务公司 2,100,000.00 2,100,000.00 --- 2,100,000.00

    上海永德经济发展有限公司 1,600,000.00 1,600,000.00 --- 1,600,000.00

    上海蝴蝶进出口有限公司 10,318,153.64 10,318,153.64 --- 10,318,153.64

    上海富华轻机有限公司 3,168,000.00 3,168,000.00 --- 3,168,000.00

    上海上工方天机械有限公司 1,800,000.00 1,800,000.00 --- 1,800,000.00

    上海上工佳源机电有限公司 2,170,728.50 2,170,728.50 --- 2,170,728.50

    上海双重包缝机有限公司 8,400,000.00 8,400,000.00 --- 8,400,000.00

    上海索营置业有限公司 10,313,953.16 10,313,953.16 --- 10,313,953.16

    上海上工进出口有限公司 28,800,000.00 28,800,000.00 --- 28,800,000.00

    上海上工缝纫机有限公司 27,000,000.00 27,000,000.00 --- 27,000,000.00

    上海申贝办公机械有限公司 266,072,314.72 266,072,314.72 --- 266,072,314.72

    上工（欧洲）控股有限责任公司 107,942,043.64 107,942,043.64 --- 107,942,043.64

    合 计 547,889,562.77 547,889,562.77 547,889,562.77

    2、按成本法核算的其他长期股权投资

    本期权益增减额

    被投资单位 初始投资成本

    年初余额

    合 计

    期末余额

    上海新光内衣厂（南非） 308,033.99 308,033.99 --- 308,033.99

    无锡上工缝纫机有限公司 153,814.26 153,814.26 --- 153,814.26

    上海华联缝制有限公司 400,000.00 400,000.00 --- 400,000.00

    上海银行漕溪信用社 551,400.00 551,400.00 --- 551,400.00

    上海宝鼎投资股份有限公司 7,500.00 7,500.00 --- 7,500.00

    申银万国证券股份有限公司 200,000.00 200,000.00 --- 200,000.00

    上海广濑精密工业有限公司 2,840,376.00 --- --- ---

    合 计 4,461,124.25 1,620,748.25 --- 1,620,748.25上工申贝(集团)股份有限公司 2009 年半年度报告

    65

    3、长期股权投资减值准备

    被投资单位 年初余额

    本期

    增加

    本期减少

    期末余额

    上海新光内衣厂（南非） 308,033.99 --- --- 308,033.99

    无锡上工缝纫机有限公司 153,814.26 --- --- 153,814.26

    上海双重包缝机有限公司 8,400,000.00 --- --- 8,400,000.00

    合 计 8,861,848.25 --- --- 8,861,848.25

    （四）营业收入及营业成本

    本期金额 上期金额

    项 目

    收 入 成 本 收 入 成 本

    主营业务 2,729,478.26 4,476,232.34 12,412,138.37 10,959,001.96

    其他业务 4,340,743.48 693,351.15 6,256,505.64 2,054,354.78

    合 计 7,070,221.74 5,169,583.49 18,668,644.01 13,013,356.74

    （五）投资收益

    项目或被投资单位名称 本期金额 上期金额

    1、金融资产投资收益

    （1）处置交易性金融资产取得的投资收益 --- ---

    （2）处置可供出售金融资产取得的投资收益 --- ---

    2、长期股权投资收益

    （1）按成本法核算确认的长期股权投资收益 23,598.25 3,261,222.10

    （2）按权益法核算确认的长期股权投资收益 --- ---

    （3）处置长期股权投资产生的投资收益 --- ---

    合 计 23,598.25 3,261,222.10

    其中：

    按成本法核算确认的长期股权投资收益主要包括：

    被投资单位 本期金额

    上海广濑精密工业有限公司 750,000.00

    上海双重包缝机有限公司 -726,401.75

    其中上海双重包缝机有限公司投资收益为本期计提的本公司应承担的该子公司超额亏损。

    1、本公司投资收益汇回无重大限制。

    2、投资收益本年金额比上年金额减少3,237,623.85 元，减少比例为99.28 %，减少原因

    为：同比减少出售股票收益。

    （六）现金流量表补充资料

    项 目 本期金额 上期金额

    一、将净利润调节为经营活动现金流量

    净利润 -30,681,028.05 -2,621,604.07

    加：资产减值准备 544,111.21 -3,614,436.85

    固定资产折旧、油气资产折耗、生产性生物资产折旧 4,305,645.01 8,094,176.18

    无形资产摊销 1,779,704.28 1,779,704.28

    长期待摊费用摊销 --- ---

    处置固定资产、无形资产和其他长期资产的损失（收益以

    “－”号填列）

    -448,325.90 -25,108,089.74

    固定资产报废损失（收益以“－”号填列） 324,050.00 280,066.10

    公允价值变动损失（收益以“－”号填列） -132,728.71 41,472.00上工申贝(集团)股份有限公司 2009 年半年度报告

    66

    项 目 本期金额 上期金额

    财务费用（收益以“－”号填列） 11,351,241.23 11,589,502.89

    投资损失（收益以“－”号填列） -23,598.25 -3,261,222.10

    递延所得税资产减少（增加以“－”号填列） --- ---

    递延所得税负债增加（减少以“－”号填列） --- ---

    存货的减少（增加以“－”号填列） 2,017,984.81 -2,189,418.56

    经营性应收项目的减少（增加以“－”号填列） -2,930,046.03 6,342,934.94

    经营性应付项目的增加（减少以“－”号填列） 9,846,112.49 -49,320,327.88

    其 他 --- ---

    经营活动产生的现金流量净额 -4,046,877.91 -57,987,242.81

    二、不涉及现金收支的重大投资和筹资活动

    债务转为资本 --- ---

    一年内到期的可转换公司债券 --- ---

    融资租入固定资产 --- ---

    三、现金及现金等价物净变动情况

    现金的年末余额 47,455,492.89 86,560,872.93

    减：现金的年初余额 55,099,297.35 92,076,908.44

    加：现金等价物的年末余额 --- ---

    减：现金等价物的年初余额 --- ---

    现金及现金等价物净增加额 -7,643,804.46 -5,516,035.51

    八、关联方及关联交易

    （一）关联方情况

    １、控制本公司的关联方情况

    控股股东名称

    负责

    人

    成立日

    期

    与本

    企业

    关系

    主要经营业务

    或管理活动

    控股股东及

    实际控制人

    变更情况

    公司与实际控

    制人之间的产

    权及控制比例

    上海市浦东新区国有资

    产监督管理委员会

    陆方

    舟

    1996 年

    9 月

    控股

    股东

    受上海市浦东

    新区人民政府

    委托，专司浦东

    新区国有资产

    管理。

    本报告期内

    公司控股股

    东及实际控

    制人未发生

    变更。

    24.44%

    2、本公司的子公司情况： （金额单位：万元）

    子公司名称 子公司

    类型

    企业

    类型

    注册

    地

    业务性

    质

    注册资本

    持股

    比例

    表决权

    比例

    组织机构代

    码

    上海上工汽车

    运输服务公司

    控股子

    公司

    非公

    司制

    企业

    上海运输 210 100.00% 100.00% 13374126-7

    杜克普爱华贸

    易(上海）有限

    公司

    控股子

    公司

    有限

    责任

    公司

    上海

    缝制设

    备进出

    口等

    USD400 40% 74% 78627462-7

    上海上工进出

    口有限公司 控股子

    公司

    一人

    有限

    责任

    公司

    上海

    缝制设

    备进出

    口等

    2,880 100% 100% 13228445-5

    上海双重包缝

    机有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    缝制设

    备等

    1,200 70.00% 90% 63132496-8上工申贝(集团)股份有限公司 2009 年半年度报告

    67

    子公司名称 子公司

    类型

    企业

    类型

    注册

    地

    业务性

    质

    注册资本

    持股

    比例

    表决权

    比例

    组织机构代

    码

    上海上工方天

    机械有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    缝制设

    备等

    300 60.00% 80% 70325891-3

    上海上工兴达

    衣车机械有限

    公司

    控股子

    公司

    有限

    责任

    公司

    上海

    缝制设

    备等

    310 67.74% 87.09% 70315607-9

    上海上工松达

    机械有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    缝制设

    备等

    300 65.00% 75% 70346641-3

    上海上工缝纫

    机有限公司 控股子

    公司

    一人

    有限

    责任

    公司

    上海

    实业投

    资等

    2,700 100.00% 100% 74809363-0

    杜克普爱华工

    业制造（上海）

    有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    缝制设

    备等

    USD1,000 70.00% 100% 79144591-0

    上海上工佳源

    机电有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    缝制设

    备等

    300 67.00% 72% 13214459-1

    上海工缝房地

    产发展有限公

    司

    控股子

    公司

    有限

    责任

    公司

    上海

    房地产

    开发等

    500 90.00% 100% 63056265-7

    上海索营置业

    有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    房地产

    开发等

    1,300 69.00% 69% 13246335-7

    上海工业缝纫

    机物产总公司

    控股子

    公司

    非公

    司制

    企业

    上海

    缝制设

    备等

    465 100.00% 100% 13224151-9

    上海永德经济

    发展有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    机电设

    备销售

    等

    200 80.00% 80% 13224080-7

    上海富华轻机

    有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    生产销

    售服装

    机械

    USD100 55.00% 55% 60725436-5

    上工(欧洲)控

    股有限责任公

    司

    控股子

    公司

    有限

    责任

    公司

    德国

    缝制设

    备等

    EUR1,000 100.00% 100.00% ---

    上海蝴蝶进出

    口有限公司

    控股子

    公司

    有限

    责任

    公司

    上海

    缝制设

    备进出

    口等

    1,000 80.00% 80.00% 13225974-3

    上海申贝办公

    机械有限公司 控股子

    公司

    一人

    有限

    责任

    公司

    上海

    办公机

    械设备

    等

    12,500 100.00% 100% 13373695-1

    3、本公司的合营和联营企业情况

    详见本附注六（十）。上工申贝(集团)股份有限公司 2009 年半年度报告

    68

    4、本公司的其他关联方情况

    其他关联方名称 其他关联方与本公司的关系

    上海广濑精密工业有限公司 本公司参股公司

    （二）关联方交易

    1、存在控制关系且已纳入本公司合并会计报表范围的子公司，其相互间交易及母子公司

    交易已作抵销。

    2、关联租赁情况

    出租方名称 承租方名称

    租赁资产

    原值（万

    元）

    租赁起始

    日

    租赁终止

    日

    租赁年

    收益（万

    元）

    租赁收

    益确认

    依据

    租赁收益

    对公司影

    响

    上工申贝（集

    团）股份有限

    公司

    上海广濑精

    密工业有限

    公司

    308.87 2006/3/11 2011/3/11 25.00

    合同协

    议

    无重大影

    响

    3、关联担保情况

    本公司为关联方提供担保的情况：详见附注九（二）

    关联方为本公司提供担保的情况：详见附注十（六）

    九、或有事项

    （一）截止2009 年6 月30 日公司为集团外非关联单位提供的担保事项形成的或有负债

    公司与上海华源企业发展股份有限公司（下称“华源发展”）因正常经营业务需要建

    立互保关系，截止2006 年6 月30 日，公司为华源发展向中国建设银行股份有限公司上海

    市分行（下称“建行市分行”）、深圳发展银行上海分行（下称“深发展上海分行”）借

    款金额11,848.8 万元提供担保，具体担保借款明细如下：（单位：万元）

    被担保单位

    担保借款

    金额

    借款期限 担保类型

    是否已经

    履行完毕

    对本公司

    的财务影

    响

    上海华源企业发展股份

    有限公司

    3,000 2004/11/11-2005/11/9

    连带责任

    担保

    否

    上海华源企业发展股份

    有限公司

    848.8 2005/3/29-2005/9/29

    连带责任

    担保

    否

    上海华源企业发展股份

    有限公司

    1,000 2005/5/27-2006/5/23

    连带责任

    担保

    否

    上海华源企业发展股份

    有限公司

    1,000 2005/6/13-2005/9/29

    连带责任

    担保

    否

    上海华源企业发展股份

    有限公司

    3,000 2005/6/6-2006/6/1

    连带责任

    担保

    否

    上海华源企业发展股份

    有限公司

    3,000 2005/7/14-2006/7/4

    连带责任

    担保

    否

    已经签和

    解协议，继

    续承担连

    带保证责

    任

    小 计 11,848.8

    建行市分行和深发展上海分行以华源发展到期未还款为由，于2007 年分别向上海市第一中级人民

    法院（下称市一中院）提起诉讼，要求公司承担担保责任，代华源发展偿付借款本息，二案合计人民

    币13,912.8 万元。其中：

    1、深发展上海分行诉讼标的为2,240.8 万元（其中本金1,848.8 万元），该行采取诉讼保全,查

    封了公司股东账户卡内的股票以及公司部分银行账户。该案已于2007 年9 月11 日开庭审理并于9 月

    25 日作出一审判决，要求公司归还深发展上海分行本金18,487,582 元及利息等，履行义务后有权向

    华源发展追偿。对此，公司已于2007 年9 月30 日向上海市高级人民法院（下称市高院）提起上诉，

    并被受理。在二审审理过程中，本公司与深发展上海分行经过协商，同意签订和解协议，主要内容如上工申贝(集团)股份有限公司 2009 年半年度报告

    69

    下：（1）深发展上海分行为实现债权已支付的案件受理费及财产保全费由本公司承担；（2）本公司

    继续对华源发展在标的借款合同项下的全部债务承担连带保证责任，保证期间为本协议签订之日起两

    年；,在此期间，深发展上海分行与华源发展就债务履行期另行达成一致协议的，保证期间至协议重新

    约定的债务履行期届满之日后两年止。（3）为保障深发展上海分行债权的实现，公司以下属子公司上

    海申贝办公机械有限公司名下位于上海市虹口区保定路419 号底层商场作抵押担保，并以公司所持部

    分股票提供质押担保；（4）本公司与深发展上海分行进一步加强业务合作；（5）本公司向市高院申

    请撤诉，自行承担二审诉讼费用；（6）协议签订后壹年内，深发展上海分行不会向本公司主张担保责

    任；协议生效后，深发展上海分行不以（2007）沪一中民三（商）初字第98 号民事判决书为依据，

    向法院提出执行申请；本公司应当履行担保责任而未履行时，同意深发展上海分行采取诉讼等方式解

    决。

    本公司于2008 年9 月23 日与深发展上海分行签订了上述和解协议，并于2008 年11 月5 日。收

    到市高院下达的民事裁定书[（2007）沪高民二（商）终字第134 号]，准许本公司以与深发展上海分

    行达成和解协议为由，撤回上诉。

    2、建行市分行诉讼标的为11,672 万元（其中本金10,000 万元），该行采取诉讼保全，查封了公

    司部分地块，该案于2007 年8 月7 日下午开庭审理，并在当年12 月13 日作出判决，要求公司承担担

    保责任，公司于2008 年1 月2 日向市高院提起上诉。在二审审理过程中，本公司与建行市分行经过协

    商，同意签订和解协议，主要内容如下：(1)建行市分行为实现债权所支付的四案件受理费、财产保全

    费、律师费等由本公司承担；(2)本公司继续对华源发展在标的借款合同项下的全部债务承担连带保证

    责任，保证期间为本协议签订之日起两年,在此期间，建行市分行与华源发展就债务履行达成展期协议

    的，保证期间至展期协议重新约定的债务履行期届满之日后两年止。展期无需再经本公司同意，本公

    司仍需承担连带保证责任；(3)为保障建行市分行债权的实现，公司以坐落于上海市卢湾区打浦路603

    号的自有房地产提供抵押担保；(4)本公司向市高院申请撤诉，自行承担二审诉讼费用；(5)协议签订

    后壹年内，建行市分行不会向本公司主张担保责任；协议生效后，建行市分行不以（2007）沪一中民

    三（商）初字第77、78、79、80 号民事判决书为依据，向法院提出执行申请；本公司应当履行担保

    责任而未履行时，同意建行市分行采取诉讼等方式解决。

    本公司于2008 年4 月10 日与建行市分行签订了上述和解协议，并于2008 年6 月26 日收到市高

    院下达的民事裁定书[（2008）沪高民二（商）终字第25 号]，准许本公司以与建行市分行达成和解

    协议为由，撤回上诉。

    华源发展以其持有的江西新余华源远东纺织有限公司95%的股权和上海华源针织时装有限公司

    88.53%的股权作为本公司对华源发展向银行借款提供担保的反担保质押标的。因华源发展在公司未知

    情况下将用于为公司反担保质押标的之一的江西新余远东纺织有限公司95%股权出售给江西新余市国

    资委，江西新余市国资委将远东纺织有限公司整体产权通过江西省产权交易所网站公开挂牌转让。公

    司以此转让合同无效向市一中院提起财产权属纠纷的诉讼，法院立案受理。2008 年3 月27 日，市一

    中院对本公司与华源发展、江西新余市国资委财产权属纠纷一案审理终结，分别出具了民事裁定书和

    民事调解书[（2007）沪一中民四（商）初字第35 号]，民事裁定书裁定如下：本公司撤回对江西新余

    市国资委的诉讼请求。同时经法院主持，本公司与华源发展达成调解协议，华源发展以其持有的张家

    港中东石化实业有限公司23.715%股权、江苏雅鹿实业股份有限公司35.3259%的股份调换原先的江西

    新余远东纺织有限公司95%股权作为反担保质押标的。为确保反担保质押标的的实现，公司于2008 年

    4 月10 日向市一中院申请财产保全，冻结了华源发展持有的张家港中东石化实业有限公司23.715%股

    权、江苏雅鹿实业股份有限公司35.3259%的股份、上海华源针织时装有限公司88.53%的股份。

    上述和解协议以及反担保事项公司已经于2008 年度进行了公告,详见公司临2008---002、010、

    016。

    此外，公司为支持华源发展资产重组，根据其第一大股东中国华源集团有限公司与金融债权人委

    员会要求，在华源发展重组计划能获得实施的前提下，同意办理债务平移所引起的变更担保手续。

    经公司董事会会议审议通过，公司已于2008 年度按担保的本金金额计提30%的预计负债，计提金

    额为35,546,274.60 元。

    （二）截止 2009 年6 月 30 日公司为关联方债务担保形成的或有负债

    截止 2009 年6 月 30 日公司为子公司上工(欧洲)控股有限责任公司提供债务担保形

    成的或有负债如下表所示。

    （单位:万元）上工申贝(集团)股份有限公司 2009 年半年度报告

    70

    被担保单位 担保金额 担保期限 担保类型

    是否已

    经

    履行完

    毕

    对本公司的财务

    影响

    上工(欧洲)控股有限责

    任公司

    EUR1,250 2005/6/30-2015/6/30

    连带担保

    责任

    否

    可到期偿还债

    务，未造成不利

    影响。

    上工(欧洲)控股有限责

    任公司

    USD530 2005/6/30-2015/10/31 担保函 否

    可到期偿还债

    务，未造成不利

    影响。

    根据本公司与德国FAG Kugelfischer GmbH（下称“FAG 公司”）签订的德国DA 公司股份转让协

    议，本公司需对下述事项承担一定的连带担保责任：

    （1）根据协议，收购德国DA 公司除了支付949,821 欧元的股份对价款之外，本公司下属全资子

    公司上工（欧洲）控股有限责任公司（下称“上工欧洲”）还需承担对FAG 公司36,525,132.28 欧元

    的股东贷款对价。截止2005 年末，已经支付了股份对价款以及9,482,436.84 欧元的股东贷款，剩余

    的27,042,695.44 欧元股东贷款原约定由“上工欧洲”自2005 年6 月30 日后第二个周年日（2007 年

    6 月30 日）开始分九年等额支付，分期付款的利息自2005 年6 月30 日起按照6%的年利率计算利息，

    并从2005 年6 月30 日起每年支付一次。

    对于上述“上工欧洲”的支付义务，本公司承担连带担保责任。但是对于剩余股东贷款对价以及

    应计利息所承担的连带责任，以其实际数额的50%为限，且最高额不超过12,500,000.00 欧元。

    截止2009 年6 月30 日，“上工欧洲”已经累计归还FAG 公司贷款对价6,009,487.85 欧元，剩余

    贷款对价为21,033,207.59 欧元。

    （2）2005 年度，本公司为DA 公司在美国子公司的房屋租赁向FAG 公司出具了金额不超过530 万

    美元的担保函，担保期限从2005 年6 月30 日至2015 年10 月31 日；同时“上工欧洲”于2005 年6

    月30 日向FAG 公司提供了63.5 万欧元、同等期限的现金质押，用于对FAG 公司为DA 公司在美国的一

    家子公司与UTF Norcross L.L.C.之间的房屋售后回租交易所提供的担保提供再担保。

    截止2009 年6 月30 日，本公司尚未因上述担保事项发生经济利益的流出。

    （三）其他或有负债

    本公司无需要披露的其他或有事项。

    十、承诺事项

    （一）已签订的尚未履行或尚未完全履行的对外投资合同及有关财务支出

    截至2009 年6 月30 日止，公司无须披露的已签订的尚未履行或尚未完全履行的对外

    投资合同。

    （二）已签订的正在或准备履行的大额发包合同及财务影响

    截至2009 年6 月30 日止，公司无须披露的已签订的正在或准备履行的大额发包合同。

    （三）已签订的正在或准备履行的租赁合同及财务影响

    截至2009 年6 月30 日止，公司无须披露的已签订的正在或准备履行的租赁合同。

    （四）已签订的正在或准备履行的并购协议

    截至2009 年6 月30 日止，公司无须披露的已签订的正在或准备履行的并购协议。

    （五）已签订的正在或准备履行的重组计划

    截至2009 年6 月30 日止，公司无须披露的已签订的正在或准备履行的重组计划。上工申贝(集团)股份有限公司 2009 年半年度报告

    71

    （六）其他重大财务承诺事项 （单位:万元）

    1、抵押资产借款情况

    抵押质押物 抵押用途 借款金额 借款人

    局门路436 号、世纪大道1500 号12

    楼、17 楼

    银行借款 5,000 上工申贝（集团）股份有限公司

    罗山路1201 号房产 银行借款 2,160 上工申贝（集团）股份有限公司

    世纪大道1500 号1101A-1101D 室 银行借款 1,000 上工申贝（集团）股份有限公司

    沪宜公路190 号 银行借款 1,400 上工申贝（集团）股份有限公司

    西藏南路1407 号 银行借款 2,000

    2,000

    2,200

    上工申贝（集团）股份有限公司

    上工申贝（集团）股份有限公司

    上工申贝（集团）股份有限公司

    襄阳路175 号房产 银行借款 2,000

    2,200

    上工申贝（集团）股份有限公司

    上工申贝（集团）股份有限公司

    吴淞路669 号1-4 层

    斜土路2669 号15 楼1-6 室办公楼

    银行借款 3,000 上海申贝办公机械有限公司

    银行存款100 万欧元 授信额度保证

    金

    --- 上工（欧洲）控股有限公司

    银行存款67.17 万欧元 保证金 --- 上工（欧洲）控股有限公司

    应收账款42.37 万欧元 银行借款 8.6 万欧元 上工（欧洲）控股有限公司

    固定资产24.25 万欧元 银行借款 11.2 万欧元 上工（欧洲）控股有限公司

    2、截止 2009 年6 月 30 日关联方及其他单位为公司提供债务担保情况

    担保人 被担保人 担保方式 担保用途 借款金额

    非关联方：

    上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司连带责任保证 银行借款 1,750

    上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司连带责任保证 银行借款 2,710

    上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司连带责任保证 银行借款 2,200

    上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司连带责任保证 银行借款 2,000

    上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司连带责任保证 银行借款 2,900

    上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司连带责任保证 银行借款 2,000

    合 计 13,560

    3、股权质押情况

    公司将持有的上海申贝办公机械有限公司100%股权中的48.96%份额，为上海浦东发

    展（集团）有限公司向公司提供额度13,560 万元（截止2009 年6 月30 日，实际累计贷

    款余额13,560 万元）借款保证担保提供股权质押的反担保，担保期限：自2008 年6 月9

    日至2012 年6 月8 日。

    十一、资产负债表日后事项

    （一）资产负债表日后公司利润分配方案

    根据2009 年8 月27 日公司第六届董事会第二 次会议决议，2009 年半年度利润不予

    分配。

    （二）资产负债表日后发生重大诉讼、仲裁、承诺

    截至本财务报表签发日止，公司无须披露的资产负债表日后发生重大诉讼、仲裁、承

    诺。

    （三）资产负债表日后资产价格、税收政策、外汇汇率的重大变化

    截至本财务报表签发日止，公司无须披露的资产负债表日后资产价格、税收政策、外

    汇汇率的重大变化。上工申贝(集团)股份有限公司 2009 年半年度报告

    72

    （四）资产负债表日后因自然灾害导致资产发生重大损失

    截至本财务报表签发日止，公司无须披露的资产负债表日后因自然灾害导致资产发生

    重大损失。

    （五）资产负债表日后发行股票和债券以及其他巨额举债

    截至本财务报表签发日止，公司无须披露的资产负债表日后发行股票和债券以及其他

    巨额举债。

    （六）资产负债表日后资本公积转增资本

    截至本财务报表签发日止，公司无须披露的资产负债表日后资本公积转增资本。

    （七）资产负债表日后发生巨额亏损

    截至本财务报表签发日止，公司无须披露的资产负债表日后发生巨额亏损。

    （八）资产负债表日后发生企业合并或处置子公司

    截至本财务报表签发日止，公司无须披露的资产负债表日后发生企业合并或处置子公

    司。

    （九）资产负债表日后一年内实施的重大经营战略调整

    截至本财务报表签发日止，公司无须披露的资产负债表日后一年内实施的重大经营战

    略调整。

    （十）资产负债表日后一年内实施的金额重大的债务重组

    截至本财务报表签发日止，公司无须披露的资产负债表日后一年内实施的金额重大的

    债务重组。上工申贝(集团)股份有限公司 2009 年半年度报告

    73

    十二、补充资料

    （一）本年度归属于普通股股东的非经常性损益列示如下（收益＋、损失－）：

    （二）净资产收益率及每股收益：

    净资产收益率 每股收益(元)

    报告期利润

    全面摊薄 加权平均 基本每股收益 稀释每股收益

    归属于公司普通股股东的净利

    润

    -34.10% -29.66% -0.2928 -0.2928

    扣除非经常性损益后归属于公

    司普通股股东的净利润

    -34.03% -29.59% -0.2922 -0.2922

    1、计算过程

    上述数据采用以下计算公式计算而得：

    全面摊薄净资产收益率

    全面摊薄净资产收益率=P÷E

    其中，P 为归属于公司普通股股东的净利润或扣除非经常性损益后归属于公司普通股股东

    的净利润；E 为归属于公司普通股股东的期末净资产。“归属于公司普通股股东的净利润”

    不包括少数股东损益金额；“扣除非经常性损益后归属于公司普通股股东的净利润”以扣

    除少数股东损益后的合并净利润为基础，扣除母公司非经常性损益（考虑所得税影响）、

    明细项目 金 额

    （一）非流动性资产处置损益，包括已计提资产减值准备的冲销部分； 483,679.69

    （二）越权审批，或无正式批准文件，或偶发性的税收返还、减免； ---

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

    策规定、按照一定标准定额或定量持续享受的政府补助除外；

    152,800.00

    （四）计入当期损益的对非金融企业收取的资金占用费； ---

    （五）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；

    ---

    （六）非货币性资产交换损益； ---

    （七）委托他人投资或管理资产的损益； ---

    （八）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； ---

    （九）债务重组损益； ---

    （十）企业重组费用，如安置职工的支出、整合费用等； ---

    （十一）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； ---

    （十二）同一控制下企业合并产生的子公司年初至合并日的当期净损益； ---

    （十三）与公司正常经营业务无关的或有事项产生的损益； ---

    （十四）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、交易性金融负债产生的公允价值变动损益，以及处置交易性金融资产、交易

    性金融负债和可供出售金融资产取得的投资收益；

    1,060,478.39

    （十五）单独进行减值测试的应收款项减值准备转回； ---

    （十六）对外委托贷款取得的损益； ---

    （十七）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；

    ---

    （十八）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；

    ---

    （十九）受托经营取得的托管费收入； ---

    （二十）除上述各项之外的其他营业外收入和支出； -1,511,579.69

    （二十一）其他符合非经常性损益定义的损益项目； ---

    （二十二）少数股东损益的影响数； -226,650.69

    （二十三）所得税的影响数； -229,378.22

    合 计 -270,650.52上工申贝(集团)股份有限公司 2009 年半年度报告

    74

    各子公司非经常性损益（考虑所得税影响）中母公司普通股股东所占份额；“归属于公司

    普通股股东的期末净资产”不包括少数股东权益金额。

    加权平均净资产收益率

    加权平均净资产收益率=P/（E0 ＋ NP÷2 ＋ Ei×Mi÷M0 － Ej×Mj÷M0±Ek×Mk÷M0）

    其中：P 分别对应于归属于公司普通股股东的净利润、扣除非经常性损益后归属于公司普

    通股股东的净利润；NP 为归属于公司普通股股东的净利润；E0 为归属于公司普通股股东

    的年初净资产；Ei 为报告期发行新股或债转股等新增的、归属于公司普通股股东的净资

    产；Ej 为报告期回购或现金分红等减少的、归属于公司普通股股东的净资产；M0 为报告

    期月份数；Mi 为新增净资产下一月份起至报告期末的月份数；Mj 为减少净资产下一月份

    起至报告期末的月份数；Ek 为因其他交易或事项引起的净资产增减变动；Mk 为发生其他

    净资产增减变动下一月份起至报告期末的月份数。

    基本每股收益

    基本每股收益=P÷S

    S= S0 ＋ S1 ＋ Si×Mi÷M0 － Sj×Mj÷M0－Sk

    其中：P 为归属于公司普通股股东的净利润或扣除非经常性损益后归属于普通股股东的净

    利润；S 为发行在外的普通股加权平均数；S0 为年初股份总数；S1 为报告期因公积金转

    增股本或股票股利分配等增加股份数；Si 为报告期因发行新股或债转股等增加股份数；

    Sj 为报告期因回购等减少股份数；Sk 为报告期缩股数；M0 报告期月份数；Mi 为增加股份

    下一月份起至报告期末的月份数；Mj 为减少股份下一月份起至报告期末的月份数。

    稀释每股收益

    稀释每股收益=[P+（已确认为费用的稀释性潜在普通股利息－转换费用）×（1-所得税

    率）]/（S0 ＋ S1 ＋ Si×Mi÷M0 － Sj×Mj÷M0—Sk+认股权证、股份期权、可转换债

    券等增加的普通股加权平均数）

    其中，P 为归属于公司普通股股东的净利润或扣除非经常性损益后归属于公司普通股股东

    的净利润。公司在计算稀释每股收益时，已考虑所有稀释性潜在普通股的影响，直至稀释

    每股收益达到最小。

    2、本年不具有稀释性但以后期间很可能具有稀释性的潜在普通股

    3、资产负债表日至财务报告批准报出日之间，公司发行在外普通股或潜在普通股股数发

    生的重大变化

    十三、财务报表的批准报出

    本财务报表业经公司六届董事会二次会议于2009 年8 月27 日批准报出。上工申贝(集团)股份有限公司 2009 年半年度报告

    75

    八、备查文件目录

    1、载有董事长亲笔签名的半年度报告正本及摘要；

    2、载有法定代表人、主管会计工作的负责人、会计机构负责人签名并盖章的会计报表；

    3、报告期内在中国证监会指定报纸上公开披露过的所有公司文件的正本及公告的原稿；

    4、公司章程文本；

    5、其他有关资料。

    董事长：张敏

    上工申贝(集团)股份有限公司

    2009 年8 月31 日SGSB GROUP CO., LTD.

    600843

    900924

    2009 INTERIM REPORT

    August 31th, 20091

    CONTENTS

    I. Important Note

    II. Company Profile

    III. Variation of Share Capital and Information about Shareholders

    IV. Directors, Supervisors and Senior Managers

    V. Report by the Board of Directors

    VI. Significant Events

    VII. Financial Report (un-audited version)

    VIII. For Reference2

    I. Important Note

    1. The Board of Directors，the Board of Supervisors, and all the directors, supervisors, senior

    managers, guarantee that there are no false statements, vital misunderstanding or important

    omissions in this report, and hold both individual and joint liability for the authenticity,

    accuracy and integrity of its contents.

    2. All the Directors have attended the meetings of Board of Directors.

    3. The Interim Report hasn’t been audited.

    4. There have been no non-operating capitals of the Company one-off occupied by the

    holding shareholder or its related parties.

    5. There have been no external guarantees of the Company violating regulations about

    decision procedures.

    6. As particular emphasis, Mr. Zhang Min, Chairman of BOD & CEO, Mr. Ma Mingliang,

    General Manager, and Ms. Meng Xiangyun, Accounting Manager, make the pledge for the

    authenticity and integrity of the attached financial statements in the Interim Report.3

    II. Company Profile

    1. Profile of the Company

    (1) Legal name of the Company: SGSB Group Co., Ltd.

    Abbreviation: SGSB

    (2) Registered stock exchange: Shanghai Stock Exchange

    Stock Code: A Shares – 600843, abbreviated as SGSB A Shares

    B Shares – 900924, abbreviated as Shanggong B Shares

    (3) Register address: 1201 Luoshan Road, Pu Dong New Area, Shanghai

    Office address: 12th Floor, Orient Mansion, No.1500 Century Avenue, Pudong New Area,

    Shanghai

    Post Code: 200122

    Web Site: http://www.sgsbgroup.com

    E-Mail: sgsb@sgsbgroup.com

    (4) Legal representative: Zhang Min

    (5) Secretary to Board of Directors: Zhang Yifeng

    Tel: 86-21-6840 7515

    Fax: 86-21-6330 2939

    E-mail: zyf@sgsbgroup.com

    Securities affairs representative: Zhou Yongqiang

    Tel: 86-21-6840 7700*728

    Fax: 86-21-6330 2939

    E-mail: zyq@sgsbgroup.com

    Contact Address: 12th Floor, Orient Mansion, No.1500 Century Avenue, Pudong New

    Area, Shanghai

    (6) Press for news release: Shanghai Securities News and Hong Kong Commercial Daily

    Web address stipulated by China Securities Regulatory Commission to carry the Interim

    Report: http://www.sse.com.cn

    Place for consulting the Interim Report: Office of the BOD

    (7) Other relevant information

    1) Date for original register: December 16, 1993

    Date for last-time register alteration: February 7, 2005

    Register institution: Shanghai Municipal Industrial and Commercial Admin.

    2) Business license register No.: 310000 4000 80303 (Municipal Admin.)

    3) Tax register No.: GDSHZ 310 115 132 210 544

    4) Organization code: 13221054-44

    5) Public accountants contracted by the Company: Shulun Pan Certified Public

    Accountants Co., Ltd.

    Address: 4F, 61 East Nan Jing Road, Shanghai

    6) Advisor for legal affairs: Shanghai Zhendan Law Office

    Address: 16F, 1688 Sichuan Road (N), Shanghai

    2. Financial Highlights

    (1) Important accounting and financial figures:

    RMB’

    Item At end of report period End of last year Increase/

    decrease %

    Total assets 1,882,266,474.02 2,042,412,641.76 -7.84

    Owners’ equity (or shareholders’ equity) 385,370,254.80 508,744,914.20 -24.25

    Net assets value per share 0.8585 1.1333 -24.25

    Jan. ~ June, 2009 Same period of the

    previous year

    Increase/

    decrease %

    Operating profit -139,672,708.17 -11,320,103.74 -1,133.85

    Total profit -140,547,808.17 13,967,427.56 -1,106.25

    Net profit -131,415,724.73 8,513,676.04 -1,643.58

    Net profit after non-current account profit/(loss) -131,145,074.21 -16,092,153.13 -714.96

    Basic earning per share -0.2928 0.0190 -1,641.05

    Basic earning per share after non-current account

    profit/(loss)

    -0.2922 -0.0358 -716.20

    Earning per share (diluted) -0.2928 0.0190 -1,641.05

    Return on net assets (%) -34.10 1.44 35.54 less

    Net cash flows generated from operating

    activities

    -81,145,555.56 -23,174,068.47 -276.05

    Net cash flows per share generated from

    operating activities

    -0.1941 -0.0516 -276.16

    (2) After non-recurrent account profit/loss:

    RMB’

    Item Ending balance

    Disposal of non-current assets profit/(loss), including the write-off of provision for assets impairment

    accrued

    483,679.69

    Government grants in current profit/(loss), with exception of government subsidies closely related to the

    normal operations of the enterprise and continuously received at certain quotation or quantity according to

    the policies and regulations of the state

    152,800.00

    Profit/(loss) on the change of fair value of tradable financial assets/liabilities, and investment income from

    disposal of tradable financial assets/liabilities, financial assets available for sale, with exception of effective

    hedging activities related to the normal operations of the enterprise

    1,060,478.39

    Other net non-operating income and expenditure -1,511,579.69

    Influence of minority interests -226,650.69

    Influence of income tax -229,378.22

    Total -270,650.525

    III. Variation of Share Capital and Information about

    Shareholders

    1. Variation of stock capital

    Before current Increase/decrease in the report period

    variation Newly issu

    ed shares

    Bonus

    shares

    By public

    reserve

    Other Total

    After current variation

    Sum Prop.

    (%) Sum Prop.

    (%)

    1. Shares subject to conditional sales

    1) State-owned

    shares 64,830,980 14.44 -64,830,980 -64,830,980 0 0

    2) Shares held by

    state legal entities

    3) Shares owned

    by other domestic

    investors

    Including: by

    domestic nonstate

    owned legal

    entities

    Including: by

    domestic natural

    persons

    4) Shares owned

    by int’l investors

    Including: by

    foreign legal

    entities

    Including: by

    foreign natural

    persons

    Subtotal shares

    subject to

    conditional sales

    64,830,980 14.44 -64,830,980 -64,830,980 0 0

    2.Unconditionally tradable shares

    1) Tradable A

    shares 140,112,047 31.21 64,830,980 64,830,980 204,943,027 45.65

    2) Tradable B

    shares 243,943,750 54.35 243,943,750 54.35

    3) B shares issued

    abroad

    4) Others

    Subtotal

    unconditionally

    tradable shares

    384,055,797 85.56 64,830,980 64,830,980 448,886,777 100.00

    3. Total equities 448,886,777 100.00 0 0 448,886,777 100.00

    On June 18, 2009, 64,830,980 shares subject to conditional sales (caused by the reform of

    non-tradable shares) held by Shanghai Pudong New Area State-owned Assets Supervision

    and Administration Commission (PSASAC) were unfrozen to the circulation. After such

    unfreeze, PSASAC has totally 109,719,658 shares unlocked and no shares under lock-in

    status.

    2. Information about shareholders

    (1) Number of shareholders and distribution of stock capital6

    Number of shareholders 44,863, including 13,811 A stockholders and 31,052 B stockholders

    Top ten shareholders

    Shareholder Classifica-tion Prop.(%) Quantity of

    shares as of

    June 30, 2008

    Increase/

    decrease

    Quantity of

    shares subject

    to conditional

    sales

    Quantity in

    pawn or

    frozen

    Shanghai Pudong New Area

    Assets Management Commission

    State-owned

    capital

    24.44 109,719,658 0 0 0

    Shanghai International Trust and

    Investment Co.

    State-owned

    legal person

    3.44 15,447,371 -1,600,000 0 Unknown

    Wang Yonghan Domestic

    individual

    2.24 10,040,583 10,040,583 0 Unknown

    China Great Wall Asset

    Management Co.

    State-owned 1.28 5,760,514 -3,300,000 0 Unknown

    Honour Force Investment Ltd. Foreign

    capital

    1.21 5,415,170 0 0 Unknown

    Guotai Junan Securities Co., Ltd. State-owned

    legal person

    0.67 3,000,000 3,000,000 0 Unknown

    Scbhk A/C KG Investment Asia

    Ltd.

    Foreign

    capital

    0.59 2,670,675 2,338,325 0 Unknown

    Jin Zhangxian Domestic

    individual

    0.55 2,470,897 2,470,897 0 Unknown

    First Shanghai Securities Ltd. Foreign

    capital

    0.54 2,425,941 2,425,941 0 Unknown

    Shenyin Wanguo Nominees

    (H.K.) Ltd.

    Foreign

    capital

    0.54 2,417,877 1,513,908 0 Unknown

    Top ten tradable stock shareholders

    Shareholder Tradable shares as of June 30, 2009 Classification

    Shanghai Pudong New Area Assets Management

    Commission

    109,719,658 A shares

    Shanghai International Trust and Investment Co. 15,447,371 A shares

    Wang Yonghan 10,040,583 B shares

    China Great Wall Asset Management Co. 5,760,514 A shares

    Honour Force Investments Ltd. 5,415,170 B shares

    Guotai Junan Securities Co., Ltd. 3,000,000 Ashares

    Scbhk A/C KG Investment Asia Ltd. 2,670,675 B shares

    Jin Zhangxian 2,470,897 B shares

    First Shanghai Securities Ltd. 2,425,941 B shares

    Shenyin Wanguo Nominees (H.K.) Ltd. 2,417,877 B shares

    Explanation for affiliated transaction relationship or

    concerted-action relationship between the main

    shareholders

    It remains unknown to the Company if any affiliated transaction

    relationship or concerted-party relationship exists between SGSB’s top

    ten tradable stock shareholders and top ten shareholders.

    (2) Variation of the holding shareholder and effective controller:

    During report period, the holding shareholder and effective controller of the Company hasn’t

    changed.7

    IV. Directors, Supervisors and Senior Managers

    1. Changes of holding shares by Directors, Supervisors and senior managers

    During report period, there were no changes of the holding shares by Directors, Supervisors

    or senior managers of the Company.

    2. Appointment and dismissal of Directors, Supervisors and senior managers

    (1) Appointment information

    1) During report period the Company realized the election of the new Board of Directors and

    the Board of Supervisors. On June 30, 2009, the 2008 Annual General Meeting of

    Shareholders of SGSB elected Mr. Zhang Min, Mr. Gu Jian, Mr. Ma Minliang, Mr. Li

    Tinghui, Mr. Lu Yujie, Mr. Shen Yibo as Directors of the 6th BOD; Mr. Wang Zhile, Mr.

    Zhang Ming, Mr. Su Yong as Independent Directors of the 6th BOD; and Mr. Xie Yushou,

    Ms. Ni Yue as Supervisors of the 6th BOS. On June 3, 2009, the Company convened the

    Workers’ Congress in which Ms. Jiang Xiaoshu was elected as Staff Supervisor in the

    BOS.

    2) On June 30, 2009, the 6th Board of Directors celebrated its first meeting, in which Mr.

    Zhang Min was elected as Chairman of BOD and CEO of the Company; Mr. Gu Jian as

    Vice Chairman of BOD; and Mr. Ma Min Liang was designated as General Manager. As

    nominated by the General Manager, Ms. Zhuge Huiling, Mr. Li Jiaming, Mr. Fang

    Haixiang and Ms. Zheng Ying were appointed as Deputy General Managers; Ms. Meng

    Xiangyun was employed as Accounting Director and Head of Accounting Affairs; Mr.

    Zhang Yifeng as Secretary to BOD, and Mr. Zhou Yongqiang as securities affairs

    representative .

    (2) Outgoing information

    During report period, the Company reelected its Board of Directors and Board of Supervisors.

    Mr. Ju Weifeng and Mr. Jia Chunrong took no longer the duty as Directors; Mr. Liu Rende,

    Mr. Jiang Hengjie and Mr. Shi Liangping also left the BOD from their posts as Independent

    Directors. And in the Board of Supervisors, Mr. He Zhongyuan was no longer member of the

    Board.8

    V. Report by the Board of Directors

    1. Overall business prospects and analysis

    During the first half of the year 2009, the global sewing machinery industry is still facing a

    tough marketing situation. The sharply dropping demand in the market made the installations

    and machinery under idle status, and compelled many enterprises to cut jobs and salaries.

    Various important indexes of operation suffered a considerable descent.

    Durkopp Adler AG (called DA for short), the most important sewing machinery producer of

    the Company, was characterized for its high gross profit margin and high production

    expenditure. Facing the strong impact of global economic crisis upon European

    manufacturers, DA couldn’t escape from the loss caused by the considerable decline of sales

    income although it took several cost-control measures. In the domestic market, the Company

    itself also suffered the idleness of its productive capacity due to the lack of orders.

    For conquering the crisis and passing through the difficulty, first of all, the Company realized

    quickly and moderately the “fitting” according to the changes in the market and the demands

    of the clients, and tried to make the productive capacity adapting to the marketing demands

    through reducing production scale, cutting idle jobs, shrinking injection of productive funds,

    cutting salaries and working hours. Secondly, the Company implemented strictly the program

    of cost-control & potential-development, and maintained the normal operation through

    practicing cost-saving & income-exploring, cutting operating expenses, seizing operating

    funds, strengthening cash-flow control, speeding-up inflow of accounts receivable and

    enhancing funds’ efficiency. At the same time, the Company kept the sewing machinery as

    its core business. In details, it went through with the integration of domestic and overseas

    business, availed of the slow-down of operations to practice the reform and reorganization,

    prepared itself well for the recovery of the industry, maintained its advantages in technology

    and trademark reputation, thus far, to seize the opportunity in crisis and realize a bendovertake.

    During report period, the Company realized an operating income of RMB 754,382,000, an

    operating profit of RMB -139,672,700, and a net profit of RMB -131,415,700, among which

    DA contributed an operating income of RMB 353,376,600, an operating profit of RMB -

    114,531,600 and a net profit of RMB -114,395,300.

    In the first six months of 2009, the Company produced and sold respectively 10,929 units and

    14,456 units of industrial sewing machines, respectively 75.30% and 64.86% less than those

    of the same period of last year, among which DA contributed a production of 2,700 units and

    sales of 3,179 units, respectively 78.19% and 69.54% less than those of the same period of

    last year. Through OEM, the Company exported 239,768 units of Butterfly household sewing

    machines, an increase of 23.84%, and realized the export value of USD 39,750,000 (DA’s

    contribution excluded), an increase of 1.15% to the same period of last year.

    (1) Highlights and analysis of the significant changes in the end-of-period balance sheet

    RMB’9

    Item 30 June 2009 31 Dec 2008 Increase/

    decrease

    Increase/

    decrease %

    Reason

    Tradable financial assets 2,523,578.39 1,223,468.55 1,300,109.82 106.26 Note 1

    Bills receivable 2,150,192.00 1,517,662.30 632,529.70 41.68 Note 2

    Other current assets 1,278,029.57 970,192.36 307,837.21 31.73 Note 3

    Financial assets available for sale 6,685,726.41 4,420,579.68 2,265,146.73 51.24 Note 4

    Construction in progress 3,219,467.47 6,778,786.23 -3,559,318.76 -52.51 Note 5

    Tax unpaid 5,422,150.73 12,477,327,27 -7,055,176.54 -56.54 Note 6

    Other current liabilities 585,151.63 891,742.25 -306,590.62 -34.38 Note 7

    Undistributed profits -446,883,146.47 -315,467,421.74 -131,415,724.73 -41.66 Note 8

    Note 1: due to the increase of the book value caused by the change in fair value of stock investment;

    Note 2: due to the increase of bank acceptance received in current period;

    Note 3: due to the increase of rent and assurance charges to be amortized in the future;

    Note 4: due to the increase of the book value caused by the change in fair value of stock investment;

    Note 5: mainly due to the completion of the construction of sewing machinery in current period;

    Note 6: mainly due to the current-period payment of income tax and as a result the decrease of tax unpaid;

    Note 7: mainly due to the current-period payment of the originally resale interest and rent;

    Note 8: due to the significant loss in current period.

    (2) Highlights and analysis of the significant changes in the end-of-period profit/loss sheet

    RMB’

    Item Current period Same period of

    previous year

    Increase/

    decrease

    Increase/

    decrease %

    Reason

    Operating income 754,382,039.09 1,162,806,720.29 -408,424,681.20 -35.12 Note 1

    Assets impairment loss -805,211.24 -9,406,127.92 8,600,916.68 91.44 Note 2

    Net income from changes in fair

    value

    872,969.06 -1,199,901.75 2,072,870.81 172.75 Note 3

    Operating profit -139,672,708.17 -11,320,103.74 -128,352,604.43 -1,133.85 Note 4

    Non-operating income 1,345,555.28 26,022,933.54 -24,677,378.26 -94.83 Note 5

    Non-operating expenditure 2,220,655.28 735,402.24 1,485,253.04 201.96 Note 6

    Income tax 1,071,898.23 2,872,725.99 -1,800,827.76 -62.69 Note 7

    Minority interest -10,203,981.67 2,581,025.53 -12,785,007.20 -495.35 Note 8

    Note 1: mainly due to the impact of financial crisis upon the overseas market, and the operating income of SGSB’s subsidiary in

    Europe dropped by 54%;

    Note 2: mainly due to the significant reversal of bad debts provision in the same period of last year;

    Note 3: mainly due to the increase of income from changes in fair value of tradable financial assets;

    Note 4: mainly due to the big decrease of principal operating gross profit;

    Note 5: mainly due to the decrease of income from disposal of fixed assets;

    Note 6: mainly due to the increase of loss from idleness of productive capacity;

    Note 7: mainly due to the significant loss of the subsidiaries in Europe;

    Note 8: mainly due to the significant increase of loss in non wholly-owned subsidiaries.

    (3) Highlights and analysis of the significant changes in the end-of-period cash flow sheet

    Item Current period Previous period Increase/

    decrease

    Increase/

    decrease%

    Reason

    Net cash flow generating from -87,145,555.56 -23,174,068.47 -63,971,487.09 -276.05 Note 110

    operating activities

    Net cash flow generating from

    investing activities

    20,558,532.05 -3,794,643.25 24,353,175.30 641.78 Note 2

    Net cash flow generating from

    financing activities

    -7,117,350.80 -62,954,936.69 55,837,585.89 88.69 Note 3

    Influence of foreign exchange rate

    changes on cash

    -551,919.60 845,269.45 -1,397,188.05 -165.30 Note 4

    Note 1: mainly due to the decrease of cash received from sales of goods and rendering of services in current period under the

    impact of financial crisis;

    Note 2: mainly due to the increase of income from the recovery of stock investment, the decrease of cash inflow from disposal of

    fixed assets and the decrease of cash paid to acquire fixed assets;

    Note 3: mainly due to the decrease of repayment for short-term bank borrowings and interests;

    Note 4: mainly due to the effect of exchange rate of Euros.

    2. Business performance review of principal operating activities during report period

    (1) Principal operating activities by products and sectors:

    RMB’

    By sector or product

    Principal

    operating income

    Principal

    operating expense

    Margin rate

    (%)

    Increase/de

    crease of

    income (%)

    Increase/de

    crease of

    expense (%)

    Increase/de

    crease of

    margin (%)

    Sewing machines and

    material transmission

    equipments

    558,212,102.62 495,211,901.16 11.29 -37.64 -23.03 16.83 less

    International trade 111,189,090.34 108,583,798.01 2.34 -39.63 -39.12 0.83 less

    Production of films and

    video materials

    49,123,161.03 44,351,654.01 9.71 33.81 32.20 1.1 more

    Office equipment 13,853,547.22 13,097,914.79 5.45 -14.55 -12.07 2.68 less

    Others 2,650,552.72 1,003,066.03 62.16 -35.49 -48.78 9.83 less

    Among which, no affiliated transactions are found in sale of goods or provision of services from the Company to its holding

    shareholder and subsidiaries.

    (2) Division of principal operating activities by regions:

    RMB’

    Region Principal operating income Increase/decrease (%)

    Home 381,651,864.65 3.51

    Abroad 353,376,589.28 -53.96

    (3) Business performance of undertakings in which the investment earning contributes 10%

    or more to the net profit of the Company:

    RMB’

    Company Business scope Net profit Contribution to

    the Company

    Proportion in the

    total net profit (%)

    Shanghai Fuji-Xerox Co., Ltd. Production and sales of copy

    machines

    -1,092,708.26 11,637,292.77

    (4) Analysis about the reasons of significant changes in the profits’ composition11

    Under the continuous impact of the financial crisis upon the performance of its subsidiary in

    Europe, which aims principally at the overseas market, the significant changes in currentperiod

    profits’ composition lie in the big decline of SGSB’s principal operating income and

    principal operating gross profit rate, and the decrease of expenditures can’t cover the decline

    of gross profit. At the meantime, the non-operating income also declined a lot.

    (5) Difficulties in the operations and resolution proposals elaborated by the Company

    Under such tight situation and heavy pressure, the Company will push the reform and

    reorganization, fulfill the transfer of productive capacity between different locations and

    realize the transformation of business model:

    1) try to implement the Contract Program and stabilize the operations of DA;

    2) transfer the production of DA’s products which are suitable for Asian market to domestic

    facilities as soon as possible;

    3) adjust the locations and styles of processing with purpose of cost-cut and efficiencyupgrade;

    4) strengthen the general administration, improve the products’ quality, avail the incentive

    policies and enlarge the marketing share.

    3. Investing activities of the Company

    (1) Utilization of raised funds:

    During report period, the Company hasn’t developed any project using raised funds, nor used

    any funds raised in anterior periods in current period.

    (2) Utilization of non-raised funds:

    During report period, the Company hasn’t developed any project using non-raised funds.

    4. Analysis of financial position and business result

    (1) Realization of earning forecast

    RMB’

    Earning forecast (current period) Real achievement

    Principal operating income 735,028,453.93

    Total profits -140,547,808.17

    Net profits -131,415,724.73

    (2) Realization of business plan

    Business plan Real achievement

    Income 754,382,039.09

    Cost and expenses 908,822,674.2812

    5. Warning and explanation about the loss forecast from year-beginning to the end of

    next accounting period or significant changes of net profit from the same period of

    last year

    Because of the strong impact of global financial crisis upon European manufacture sector, the

    business performance of Durkopp Adler AG, SGSB’s key subsidiary in sewing machinery

    industry, hasn’t recovered yet. As a result, the Company forecasts that the loss remains till

    the end of next accounting period.13

    VI. Significant Events

    1. Corporate Governance of the Company

    According to the , the , and the  issued by China Securities Regulatory Commission, the Company pays

    high attention to perfect continuously the corporate governance structure and regularize the

    corporate operation.

    During report period, the Company convened as scheduled the Annual General Meeting of

    Shareholders, organized smoothly the reelection of the Board of Directors and the Board of

    Supervisors, and made the appointment of new management team. The mechanism of

    coordination and interact-balance works well among the General Meeting of Shareholders, the

    Board of Directors, the Board of Supervisors and the senior management team. The

    organizational setup and functional division meets the requirements fixed for internal control.

    The Company also pays priority to the internal systems construction and tries to perfect the

    systems in the process of implementation. During report period, there were 7 internal systems

    newly established or amended.

    The holding stockholder is well self-discipline for his conduct and never intervenes directly or

    indirectly in the operation or decision of the Company. The Company is independent from

    the holding stockholder in terms of personnel, assets, finance, institution and business.

    According to the laws, regulations and the Articles of Association, the Company implements

    the principles of truth, exactness, integrity and promptness in the information disclosure, and

    guarantee that all the shareholders have the equal access to the related information.

    2. Profit appropriation in report period

    During report period, the Company hasn’t implemented any profit appropriation proposal.

    3. Proposals on profit appropriation or capital reserve capitalization

    During report period, the Company hasn’t launched any proposals on profit appropriation or

    capital reserve capitalization.

    4. Implementation of cash dividend policy in report period

    On March 26, 2009, the 23rd meeting of the Fifth Board of Directors considered and approved

    the amendment of the Articles of Association, in which the cash dividend policy was adjusted.14

    Such modification was discussed and agreed by the 2008 Annual General Meeting of

    Shareholders.

    5. Significant litigation and arbitration cases during report period

    During report period, the Company wasn’t involved in any significant litigation or arbitration

    cases.

    6. Equity investment in other listed companies or financial institutions

    (1) Investment in securities

    RMB’

    Type Code Number Initial

    investment

    Quantity of

    shares

    Ending book

    value

    Prop. among

    investment in

    securities

    Current

    profit/loss

    Funds HuaAn A 160402 100,000.00 399,785.25 339,417.68 13.45% 132,728.71

    Other investment in securities 2,734,550.89 - 2,184,160.69 86.55% 740,240.35

    Profit/loss current-period sale of securities - - - - 83,559.33

    Total 2,834,550.89 - 2,523,578.37 100% 956,528.39

    (2) Stock equity of other listed companies held by the Company

    RMB’

    Code Entity Initial

    investment

    Prop. in the

    invested

    company

    Ending

    book value

    Profit

    /loss

    Change in

    shareholder

    equity

    Account title Origin of

    equity

    600637 SVA

    Info.

    67,600.00 <5% 156,250.71 68,703.93 Financial assets

    available for sale

    Legal-person

    shares

    600689 Sanmao

    Textile

    2,103,200.00 <5% 6,529,475.70 103,950.00 2,300,392.80 Financial assets

    available for sale

    Legal-person

    shares

    Total 2,170,800.00 - 6,685,726.41 103,950.00 2,369,096.73 - -

    (3) Stock equity of non-listed financial institutions held by the Company

    RMB’

    Company Initial

    investment

    Quantity of

    shares

    Prop. in the

    invested

    company

    ear-end book

    value

    Profit

    /loss

    Change in

    shareholder

    equity

    Account title Origin of

    equity

    Bank of

    Shanghai

    551,400.00 191,700 <5% 551,400.00 Long-term equity

    investment

    Buy-in

    Baoding

    Investment

    7,500.00 5,751 <5% 7,500.00 Long-term equity

    investment

    Buy-in

    Shenyin

    Wanguo

    200,000.00 102,214 <5% 200,000.00 Long-term equity

    investment

    Buy-in

    Subtotal 758,900.00 - 758,900.00 - -

    7. Significant acquisition/transfer of assets or merger affairs

    During report period, there were no significant acquisitions/transfers of assets or merger

    affairs.

    8. Significant affiliated transactions during report period

    During report period, there were no significant affiliated transactions.15

    9. Significant contracts and the fulfillment

    (1) Trusteeship, contract and leasing affairs

    1) During report period, there were no significant trusteeship cases in which the Company

    was concerned.

    2) During report period, the Company didn’t commit any significant contracts.

    3) During report period, the Company didn’t commit any significant leasing cases.

    (2) Guaranty affairs

    RMB’000

    External guaranties (for subsidiary undertakings excluded)

    Company under guaranty Date incurred

    dd/mm/yy

    Amount

    under

    guaranty

    Category Duration

    dd/mm/yy

    Completed

    (Y/N)

    Affiliated

    party (Y/N)

    Shanghai Worldbest Enterprise

    Development Co., Ltd.

    11/11/2004 30,000 Joint-liability

    guaranty

    11/11/2004-

    09/11/2005

    N N

    Shanghai Worldbest Enterprise

    Development Co., Ltd.

    29/03/2005 8,490 Joint-liability

    guaranty

    29/03/2005-

    29/09/2005

    N N

    Shanghai Worldbest Enterprise

    Development Co., Ltd.

    27/05/2005 10,000 Joint-liability

    guaranty

    27/05/2005-

    23/05/2006

    N N

    Shanghai Worldbest Enterprise

    Development Co., Ltd.

    13/06/2005 10,000 Joint-liability

    guaranty

    13/06/2005-

    29/09/2005

    N N

    Shanghai Worldbest Enterprise

    Development Co., Ltd.

    06/06/2005 30,000 Joint-liability

    guaranty

    06/06/2005-

    01/06/2006

    N N

    Shanghai Worldbest Enterprise

    Development Co., Ltd.

    14/07/2005 30,000 Joint-liability

    guaranty

    14/07/2005-

    04/07/2006

    N N

    Shanghai Pudong Development

    (Group) Co., Ltd.

    09/06/2008 135,600 Joint-liability

    guaranty

    09/06/2008-

    08/06/2012

    N N

    Total occurred in current period 0

    Total ending balance (A) 254,090

    Guaranties for subsidiary undertakings

    Total occurred in current period 0

    Total ending balance (B) 156,720

    Guaranties including those for subsidiary undertakings

    Total balance (A+B) 410,810

    Proportion of total guarantee balance in the Company’s net assets (%) 95.1

    Including:

    Guaranties for the shareholders, real controller and its affiliated parties (C) 0

    Guarantees directly or indirectly for companies whose assets-liability ratio over 70% (D) 275,210

    Total balance surplus 50% net assets of the Company (E) 0

    Total balance of out-of-line guaranties (C+D+E) 275,210

    1) The Company contracted mutual credit guarantee relationship with Shanghai Worldbest

    Industry Development Co., Ltd. (Worldbest Development) in the year 2001. After that,

    Worldbest Development couldn’t recover the borrowings as scheduled and the banks

    accused it in different courts. Till the occurrence of these lawsuits, the Company acted as

    guarantor for six overdue borrowings of Worldbest Development with a total amount of

    RMB 118,490,000 and was also involved in the dispute. In the year 2008, Worldbest

    Development offered some equities as counter-guarantee pledge and the Company agreed

    to offer some part of its own assets to the banks as guarantee of the borrowings raised by16

    Worldbest Development. The pledge formalities were completed and the reconciliation

    memorandum was signed between the Company and the banks. (For details, please refer

    to the resolutions L2008-002, 010 and 016.)

    2) According to related articles in the equity acquisition agreement signed with FAG

    Kugelfischer AG (FAG), the Company should take certain joint-liability responsibility for

    the following affairs:

    ① Besides the payment of ? 949,821 for equity acquisition of Durkopp Adler AG,

    Shanggong (Europe) Holding Co., Ltd. (SG Europe), wholly-owned subsidiary of the

    Company, should bear the banking loans of DA’s original shareholders valued ?

    36,525,132.28. As at end of 2005, SG Europe had paid all the equity acquisition

    consideration and ? 9,482,436.84 for banking loans. As originally agreed, the rest

    banking loans around ? 27,042,695.44 would be covered with equal payment in nine years

    at an interest rate of 6% every June 30 since the year 2007. The interests of the banking

    loans should be calculated at an annual interest rate of 6% since June 30, 2005 and be

    charged yearly from the same date.

    The Company assumed joint-liability responsibility for the equity acquisition, as well as

    the banking loans and interests. But the guarantee for banking loans and interests was

    maximum 50% of actual amount and ? 12,500,000.00.

    As at the acquisition date, the net assets of DA valued ? 16,397,000, and taking in

    consideration the joint guarantee duty of the Company for DA’s debts towards its original

    shareholder FAG, Shanggong Europe paid only ? 1,293,000 for the 89.932% equity of DA,

    and the transaction incurred an investment difference of ? 15,104,000. After the integral

    consideration of the guarantee risks, the operating situation of DA and its cash inflow

    ability, the Company adjusted its principal operating assets in combination of investment

    difference, and appropriately returned partial adjusted balance according to the actual

    situation of guarantee risks and DA’s operations.

    Till the end of report period, Shanggong Europe had paid first-period principal of banking

    loans ? 6,000,000 for FAG, with the remaining amount to be ? 21,030,000.

    ② In 2005, the Company offered a letter of guarantee valued USD 5,300,000 to FAG

    Kugelfischer AG for the housing lease contract of DA’s subsidiary in the United States,

    valid from June 30, 2005 to October 31, 2015. On the same day June 30, 2005, SG

    Europe offered a cash mortgage of ? 635,000 to FAG (with the same period of validity)

    for re-guaranteeing the latter’s responsibility in the sale and lease-back deal between DA’s

    subsidiary and UTF Norcross L.L.C.

    Till June 30, 2009, this guarantee deal didn’t cause outflow of economic interest from the

    Company.

    (3) Trust investment affairs

    During report period, the Company didn’t entrust any entities to handle investment affairs.

    (4) Other significant contracts

    During report period, the Company didn’t settle any significant contracts.

    10. Fulfillment of publicly announced commitments

    Shanghai Pudong New Area State-owned Assets Supervision and Administration

    Commission, who is the shareholder who holds more than 5% of SGSB’s stock equity, can

    fulfill strictly all the common commitments it has announced during the reform of nontradable

    shares.17

    11. Employment and dismissal of public accountants

    During report period, under approval of the General Meeting of Shareholders, the Company

    renewed its contract with Shulun Pan Certified Public Accountants Co., Ltd. for the audit

    services in the year of 2009.

    12. Punishment and reform measures upon the Company, its Directors, Supervisors,

    senior managers, shareholders or effective controller

    During report period, neither the Company, nor its Directors, Supervisors, Senior Managers,

    shareholders or effective controller, has received any check, administration punishment or

    notice of criticism from China Securities Regulatory Commission, or publicly condemned by

    Shanghai Stock Exchange.

    13. Other significant events, their influence, and resolution proposals

    During report period, there are no other significant events that should be disclosed by the

    Company.

    14. Index of information disclosure

    Announcement Newspaper and Page No. dd-mm-yyyy Internet track

    L2009-001 Performance decline forecast Shanghai Securities News C71

    HK Commercial Daily A5

    23-01-2009

    L2009-002 Announcement of resolutions by the

    22nd meeting of the Fifth Board of Directors

    Shanghai Securities News C39

    HK Commercial Daily A6

    10-03-2009

    L2009-003 Loss forecast in the year of 2008 Shanghai Securities News C40

    HK Commercial Daily A6

    17-03-2009

    2008 Annual Report Summary Shanghai Securities News 153

    HK Commercial Daily B8

    28-03-2009

    L2009-004 Announcement of resolutions by the

    23rd meeting of the Fifth Board of Directors

    Shanghai Securities News 153

    HK Commercial Daily B8

    28-03-2009

    L2009-005 Announcement of resolutions by the

    13th meeting of the Fifth Board of Supervisors

    Shanghai Securities News 153

    HK Commercial Daily B8

    28-03-2009

    2009 First Quarter Report Shanghai Securities News 114

    HK Commercial Daily A8

    25-04-2009

    L2009-006 Announce about the resignation of

    Director

    Shanghai Securities News C15

    HK Commercial Daily A5

    14-05-2009

    http://www.sse.com.cn

    Official website of

    Shanghai Stock

    Exchange

    L2009-007 Announcement of resolutions by the

    25th meeting of the Fifth Board of Directors

    Shanghai Securities News C21

    HK Commercial Daily B8

    09-06-2009

    L2009-008 Announcement of resolutions by the

    15th meeting of the Fifth Board of Supervisors

    Shanghai Securities News C21

    HK Commercial Daily B8

    09-06-2009

    L2009-009 Announcement of the partial Shanghai Securities News C5 11-06-200918

    circulation of shares subject to conditional sales HK Commercial Daily B6

    L2009-010 Announcement of resolutions by

    2008 Annual General Meeting of Shareholders

    Shanghai Securities News C13

    HK Commercial Daily A6

    01-07-2009

    L2009-011 Announcement of resolutions by the

    first meeting of the Sixth Board of Directors

    Shanghai Securities News B2

    HK Commercial Daily B6

    02-07-2009

    L2009-012 Announcement of resolutions by the

    first meeting of the Sixth Board of Supervisors

    Shanghai Securities News B2

    HK Commercial Daily B6

    02-07-200919

    VII. Financial Report

    1. The 2009 interim financial statements and related annotations of SGSB Group Co., Ltd.

    haven’t been audited.

    2. The un-audited financial statements, with composition of Balance Sheet, Profit/Loss and

    Profit Appropriation Statement and Cash Flow Statement, are attached following current

    interim report.

    3. Annotations to financial statements are detailed in this chapter.20

    1. General information

    SGSB Group Co., Ltd. (the Company), joint stock limited company with publicly issued A & B shares

    on Shanghai Stock Exchange, is the first listed company in the sewing machinery sector of People’s

    Republic of China. The Company got the Corporate Business License authorized by local

    administration of industry and commerce in April, 1994. The Company, with register capital of RMB

    448,886,777, has 1201 Luoshan Road, Pudong New Area, Shanghai PRC as register address, and Mr.

    Zhang Min as legal representative.

    The Company is mainly engaged in the manufacture and sales of industrial sewing machines and

    equipment, with more than 10 major categories of products with a total of 21 series and over 100

    different varieties of sewing machines, including high speed lockstitch sewing machines, high speed

    overlock sewing machines, leather products sewing machines, bartacking sewing machines, bag

    closing sewing machines, button hole sewing machines and other specialized sewing equipment.

    Almost all its products are marked with the five registered trademarks “Shanggong”, “Shuanggong”,

    “Butterfly”, “Bee” and “Flying Man”. During recent years, the Company pays priority to the R&D of

    new sewing machinery products. Particularly after the acquisition of Durkopp Adler AG (public listed

    company in Germany) in 2005, the Company has been availing the advanced technology of Durkopp

    Adler to realize the upgrade and development of the products’ structure, and moving gradually the

    production of DA’s products which are popular in Asian market to Chin with purpose of satisfying the

    growing demand of customers for auto-running sewing machines.

    At the meantime, the Company has also expanded its business in recent years, and entered material

    transmission equipment, office appliances, sensitive films, international trade and logistic industries.

    On May 22, 2006, the General Meeting of Shareholders considered and approved the non-tradable

    equity reform proposal, whose core content is that the non-tradable equity stockholders pay partially

    their shares to all the tradable equity shareholders at a ratio of 10:6 as consideration of getting tradable

    rights. After the payment, the total number of shares remains unchanged, but the equity structure has

    changed as following: as at June 30, 2009, the total number of shares is of 448,886,777, all of which

    are characterized as unconditionally tradable shares.

    2. Basis for the formulation of financial statements and declaration for the adoption of the

    Accounting Standards for Enterprises

    Based on the sustainable operation and according to really occurred transactions and affairs, the

    Company adopts “Accounting Standards for Business Enterprises-Basic Standards” and related

    additional regulations in the preparation of its financial statements.

    The financial statements and annotations prepared by the Company, strictly under the guideline of

    “Accounting Standards for Business Enterprises”, reflect truly and integrally the information such as

    financial status, business achievements and cash flows of the Company.

    3. Principal accounting policies, estimations and early errors

    Annotations to Financial Statements21

    3.1 Accounting Calendar

    The Company adopts the Gregorian calendar and defines every accounting year as beginning at

    January 1 and ending at the same December 31.

    3.2 Measurement currency

    The Company maintains its books and records in Renminbi (RMB).

    The overseas subsidiaries of the Company adopt at their books respectively the currency adopted by

    the places where their principal operations are installed, and translate them into Renminbi on the

    preparation of financial statements.

    3.3 Adoption of accounting measurements

    Generally, the Company adopts historical cost convention for the preparation of its statements. In line

    with accounting systems for business enterprises, replacement cost, net realizable value, present value

    or fair value could be adopted for some accounting elements whose value can be reliably obtained and

    measured.

    3.3.1 Accounting measurements of fair value

    Under the fair value measurement, the assets/liabilities are accounted at the price taken in a fair

    transaction between both parties who understand well the situation and are willing to exchange assets

    or liquidate liabilities.

    The accounting elements adopting fair value measurement are trading financial assets and financial

    assets available for sale.

    The Company adopts the last-trading-day closing price in report period as fair value of related assets.

    3.3.2 Accounting measurements changed during report period

    There are no changes in accounting measurements during report period.

    3.4 Cash equivalent

    For the purpose of the cash flow statement, cash equivalent comprises short-term investments with

    maturity within three months that are characterized with active fluidity, easy to transfer to realizable

    value and less risky for value fluctuation.

    3.5 Foreign currency calculation

    Foreign currency transactions are translated into the measurement currency using the spot exchange

    rate prevailing at the date of the transaction.

    The balance of foreign currency monetary items is adjusted and translated into measurement currency

    at balance sheet date using the spot exchange rate. Regarding the year-end differences of translation in

    foreign currency, except those special borrowing accounts under the acquisition, building or

    production of assets to be capitalized are capitalized and accounted into related assets cost, all the other

    differences are accounted into current profits and losses. The foreign currency non-monetary items at

    historical cost are translated using the spot exchange rate. And the foreign currency non-monetary

    items at fair value are adjusted and translated into measurement currency at adoption date of fair value

    using the spot exchange rate. The difference of translation between different currencies is accounted

    into current profits and losses or capital reserves.

    3.6 Translation of financial statements in foreign currency

    All the assets and liabilities items in the Balance Sheet adopt for the translation the spot exchange rate

    at balance sheet date. The items under the owners’ equity, except the undistributed profits, are22

    translated at their occurrence at the spot exchange rate. The spot exchange rate at the transaction date

    or the exchange rate approximate to spot rate defined by a systematic rational method should be

    adopted for the income/expense items, and the difference caused by such translations should be listed

    separately under the owners’ equity in the Balance Sheet.

    On disposal of overseas operations, the corresponding difference of foreign currency translation related

    to the overseas operations should be moved from owners’ equity to current profits and losses. On

    partial disposal of overseas operations, the partial proportion of difference should also be converted

    into current profits and losses.

    3.7 Calculation of financial assets and liabilities

    3.7.1 Classification of financial assets and liabilities

    The Company classifies the financial assets and liabilities by their purposes: financial assets or

    liabilities at fair value and accounted into current profits and losses (for example, tradable financial

    assets or liabilities); held to maturity investments; loans and receivable accounts; financial assets

    available for sale and other financial liabilities.

    3.7.2 Definition and measurement of financial assets and liabilities

    3.7.2.1 Financial assets and liabilities at fair value and accounted into current profits and losses

    The fair value (less than cash dividend to be distributed and bonds interest to be received) of the assets

    on the acquisition should be adopted as initial recognized value, and related transaction expenses

    should be accounted into current profits and losses.

    The interests and cash dividend received should be recognized as investment income during the period,

    and the difference of fair value between initial and spot dates should be accounted into current profits

    and losses.

    On the disposal of the assets, the difference between the obtained price and the book value of

    investment should be recognized as investment income, and the accumulated fair value profits and

    losses should be accordingly adjusted.

    3.7.2.2 Receivable accounts and loans

    The contract price charged to the buyers should be recognized as initial value for those receivable

    accounts which mainly composes of the receivable creditor’s right caused by the sale of goods and the

    providing of labor services, and receivables in other companies excluding debt instruments priced in

    active markets, includes but not limits in receivable bills, receivable accounts, other receivables,

    prepayments and long-term receivables.

    The differences between sale value and book value should be accounted into current profits and losses

    on its recovery or disposal.

    3.7.2.3 Financial assets available for sale

    The fair value (less than cash dividend to be distributed and bonds’ interest to be received) and

    relevant transaction expenses of the assets on the acquisition should be adopted as initial recognized

    value.

    The interests and cash dividend received should be recognized as investment income during the period,

    and the difference of fair value between initial and spot dates should be accounted into capital reserve

    (other capital reserve).

    On the disposal of the assets, the difference between fair value and initial value should be recognized

    as investment profits and losses, and the accumulated variance of fair value caused by the disposal

    should be simultaneously moved from shareholders’ equity to investment profits and losses.

    3.7.2.4 Other financial liabilities23

    The Company adopts the fair value and relevant transaction expenses as initial recognized value and

    takes amortized cost for subsequent measurement.

    3.7.3 Recognition and measurement of the financial assets transfer

    On the transfer of financial assets, these assets should be no longer recognized if nearly all the risks

    and rewards relating to the ownership have been transferred to the transferee; if in contrary cases, they

    should be still recognized as financial assets of the Company.

    The principle of “Substance over Form” is adopted in judging the termination or not of recognizing

    financial assets. The transfer of financial assets is also divided into two cases: entire transfer and

    partial transfer.

    If the transfer of an entire financial asset satisfies the conditions for stop recognition, the difference

    between the amounts of the following 2 items shall recorded in the profits and losses of the current

    period:

    (1) The carrying amount of the transferred financial asset;

    (2)The aggregate consideration received from the transfer, and the accumulative amount of the changes

    of the fair value originally recorded in the owner’s equities (in the event that the financial asset

    involved in the transfer is a financial asset available for sale).

    If the transfer of partial financial asset satisfies the conditions for stopping recognition, the carrying

    amount of the entire financial asset transferred shall, between the portion whose recognition has

    stopped and the portion whose recognition has not stopped (under such circumstance, the service asset

    retained shall be deemed as a portion whose recognition has not stopped), be allocated at their

    respective relative fair value, and the difference between the amounts of the following 2 items:

    (1) The carrying amount of the portion whose recognition has stopped;

    (2) The aggregate consideration of the portion whose recognition has stopped, and the portion of the

    accumulative amount of the changes in the fair value originally recorded in the owner’s equities which

    is corresponding to the portion whose recognition has stopped (in the event that the financial asset

    involved in the transfer is a financial asset available for sale).

    The Company should recognize financial assets and recognize the reception of consideration as

    financial liabilities in case the transfer of these financial assets doesn’t satisfy the definition of

    termination.

    3.7.4 Definition of fair value of financial assets and liabilities

    The Company adopts the period-end quotations in active markets as fair value of financial assets and

    liabilities.

    3.7.5 Depreciation reserves for financial assets

    Depreciation reserves for financial assets available for sale

    At end of report period, the accumulated loss caused by the fair value decrease should be reclassified

    from the original item of owners’ equity and recognized as impairment loss in case the fair value of

    financial assets available for sale has decreased significantly or the decrease trend is considered to be

    non-temporary under all the related conditions.

    3.8 Recognition and accruement of provision for bad debt in accounts receivable

    At end of report period, when objective evidences show that the accounts receivable are depreciated,

    the book value of these accounts receivable should be accounted into recoverable sum and the decrease

    should be recognized as impairment loss of current profits and losses. The recoverable sum should be

    calculated through the estimation of future cash flows (not including credit loss not occurred yet)

    discounted at original real interest rate and the price of related guarantee (after estimated disposal

    expenses).24

    The original real interest rate means the real interest rate at the original recognition of the accounts

    receivable.

    The estimated future cash flow of short-term accounts receivable shouldn’t be discounted at the

    calculation of their impairment loss for the minor difference between their present value and future

    cash flow.

    At end of period, the Company takes individual depreciation test for those significant receivable

    accounts (including accounts receivable, bills receivable, prepayments, other receivables and long-term

    accounts receivable), determines the impairment loss and makes provision for bad debts based on the

    difference between their future cash flow value and book value.

    For those insignificant receivable accounts, the Company classifies them as several groups whose

    credit risk level is similar to those individually tested non-depreciation accounts, and determines the

    impairment loss and makes proportional provision for bad debts based on the end-of-period balance.

    Except those accounts receivable whose depreciation reserves have been individually accrued, the

    Company determines the following proportion of provision for bad debts based on the actual loss ratio

    of the anterior-periods receivable accounts with similar credit risk, and the consideration of actual

    situations:

    Age distribution Provision proportion

    Within one year 5%

    1-2 years 20%

    2-3 years 50%

    Over 3 years 100%

    3.9 Accounting of inventories

    3.9.1 Classification of inventories

    The inventories of the Company comprise: materials in transit, raw materials, inventory products, f

    work in process, goods sold, material in outside processing, etc.

    3.9.2 Inventory pricing method on their delivery

    (1) Inventory products are accounted with weighted average method on their delivery.

    (2) Amortization of circulating materials: the treatment of low value articles and packing materials

    adopts one-off amortization method.

    3.9.3 Inventory system

    The Company adopts perpetual inventory system to take periodic or non-periodic inventory checkup.

    3.9.4 Provision for depreciation reserves of inventories

    The Company takes inventory checkup at end of each accounting period, and states or adjusts

    depreciation reserves of inventories at the lower of cost or net realizable value. During normal

    production, the cash realizable value of inventories directly for sale, such as products, merchants and

    materials for sale is accounted by the estimated price less the estimated sales expenses and taxes.

    During normal production, the cash realizable value of materials to be processed is accounted by the

    estimated price of finished product less the estimated cost, sales expenses and taxes. For those

    inventories with purpose of implementing sales contract or labor contract, the cash realizable value is

    based on the contract price; if the inventories held more than fixed in the contract, the cash realizable

    value of surplus part is accounted based on the market price.

    At end of report period, the Company accrues individual provision for depreciation reserves of the

    inventories. In case of low-cost and numerous-in-variety inventories, the Company classifies the

    provision for depreciation of each kind of inventories. And the Company consolidates the provision25

    for depreciation of those inventories related to the production and sales of products in the same region,

    with the same or similar utilization and purpose, and difficult to calculate separately.

    In case the factors impacting the write-down of the inventories’ value disappear, the write-down

    amount should be recovered and the according provision of impairment should be returned to current

    profits and losses.

    3.10 Calculation of long-term equity investment

    3.10.1 Initial measurement

    (1) Long-term equity investment formed by the merger of enterprises

    For the merger of enterprises under the same control, if the consideration of the merging enterprise is

    that it makes payment in cash, transfers non-cash assets or bear its debts, it shall, on the date of merger,

    regard the share of the book value of the owner's equity of the merged enterprise as the initial cost of

    the long-term equity investment. The difference between the initial cost of the long-term equity

    investment and the payment in cash, non-cash assets transferred as well as the book value of the debts

    borne by the merging party shall offset against the capital reserve. If the capital reserve is insufficient

    to dilute, the retained earnings shall be adjusted. All the directly related expenses, including audit fee,

    appraisal fee, legal services fee etc, shall be accounted into current profits and losses.

    For the merger under different control, the merger cost should be accounted at the fair value of assets

    paid, liabilities carried and equity bonds issued by the merging party at the merger date, and other

    direct expenses related to the transaction. For the gradual merger realized by separate procedures, the

    merger cost should be the sum of every separate transaction. In case of any future events defined in

    merger contract whose predictable occurrence could influence the merger cost and the related amount

    could be reliably calculated at merger date, such amount should also be included in merger cost.

    (2) Long-term equity investment by other methods

    The initial cost of a long-term equity investment obtained by making payment in cash shall be the

    purchase cost which is actually paid. The initial cost of a long-term equity investment obtained on the

    basis of issuing equity securities shall be the fair value of the equity securities issued.

    The initial cost of a long-term equity investment of an investor shall be the value stipulated in the

    investment contract or agreement except the unfair value stipulated in the contract or agreement.

    Under the conditions that the exchange of non-monetary assets is characterized with business essence,

    and the fair value of the assets received or surrendered can be accounted in a reliable way, the book

    value of assets received is defined on basis of the fair value of assets surrendered, except there are

    conclusive evidences for the stronger reliability of the fair value of assets received. For the exchange

    of those non-monetary assets not meeting the above premises, the book value of assets surrendered and

    related taxes should be accounted as cost of assets received and the profits and losses shouldn’t be

    concluded.

    The initial cost of long-term equity investment obtained by recombination of liabilities shall be

    accounted at fair value.

    3.10.2 Evidences for significant influences and the invested entity under joint control

    Certain control is considered as joint control with other parties over the invested entity when it happens

    over an economic activity in accordance with the contracts and agreements, which does not exist

    unless the investing parties of the economic activity with one an assent on sharing the control power

    over the relevant important financial and operating decisions. Certain case is considered as significant

    influences when the investing entity owns the power to participate in making decisions on the financial

    and operating policies of an enterprise, but not to control or do joint control together with other parties

    over the formulation of these policies.26

    3.10.3 Subsequent measurement and recognition of income

    Where an investing enterprise does joint control over or has significant influences on the invested

    entity, if the initial cost of a long-term equity investment is more than the investing enterprise'

    attributable share of the fair value of the invested entity's identifiable net assets for the investment, the

    initial cost of the long-term equity investment may not be adjusted; if the initial cost of a long-term

    equity investment is less than the investing enterprise' attributable share of the fair value of the

    invested entity's identifiable net assets for the investment, the difference shall be included in the

    current profits and losses and the cost of the long-term equity investment shall be adjusted

    simultaneously.

    For a long term equity investment on the subsidiary company of an investing enterprise, the investing

    enterprise shall accounted by employing the cost method as prescribed by these Standards, and shall

    make an adjustment by employing the equity method when it works out consolidated financial

    statements.

    The cost method shall be employed when a long-term equity investment of the investing enterprise that

    does not do joint control or does not have significant influences on the invested entity,, and has no

    offer in the active market and its fair value cannot be reliably measured.

    A long-term equity investment of the investing enterprise that does joint control or significant

    influences over the invested entity shall be measured by employing the equity method.

    Under cost method, the investment income recognized by the investing enterprise shall be limited to

    the amount received from the accumulative net profits that arise after the invested entity has accepted

    the investment. Where the amount of profits or cash dividends obtained by the investing entity exceeds

    the aforesaid amount, it shall be regarded as recovery of initial investment cost.

    Under equity method, an investing enterprise shall recognize the net losses of the invested enterprise as

    following process: firstly, it shall dilute the book value of the long-term equity investment; secondly, if

    the book value of the long-term equity investment is insufficient to dilute, it shall dilute the book value

    of the long-term receivables under the limit of other long-term rights and interests which substantially

    form the net investment made to the invested entity; lastly, after the above treatments, it shall recognize

    the accrued liabilities according to the responsibilities in investment contract or agreement and

    account them into current profits and losses.

    If the invested entity realizes profits in posterior periods, the investing enterprise shall adopt the

    contrary process, after the unrecognized losses, to write down the balance of the accrued liabilities,

    recover the book value of other long-term rights and interests which substantially form the net

    investment made to the invested entity, and recognize the investment profits.

    Where any change is made to the owner's equity other than the net profits and losses of the invested

    entity, the book value of the long-term equity investment shall be adjusted and be included in the

    owner's equity, and the capital reserves (other capital reserves) shall be accordingly adjusted, in

    accordance with the attributable share of the net profits or losses of the invested entity.

    3.11 Classification and measurement of investment real estate

    Investment real estate refers to the real estate held with purpose of rent earning, capital gaining or both

    of them, including land user which has been rented out or is held for transference after capital

    appreciation, and buildings which has been rented out.

    The Company adopts cost calculation mode for measurement of investment real estate. On calculating

    the depreciation, the Company adopts the same policy of fixed assets for measurement of investment

    real estate and assets for rent, and the same policy of intangible assets for measurement of right of land27

    use for rent. On appearance of evidence for depreciation, the Company estimates the recoverable value

    and defines the impairment loss when the recoverable value is lower than its book value.

    3.12 Calculation and depreciation of fixed assets

    3.12.1 Definition of fixed assets

    The fixed assets of the Company refer to those tangible assets with service life more than one year and

    related to production, labor services, for lease or management. The Company recognizes the fixed

    assets when they meet the following conditions:

    (1) The economic benefits pertinent to the fixed asset are likely to flow into the enterprise; and

    (2) The cost of the fixed asset can be measured reliably.

    3.12.2 Classification of fixed assets

    The fixed assets of the Company are composed of house and construction, machinery and equipment,

    motor vehicles, electronic equipments, fixtures and other equipments.

    3.12.3 Initial measurement of fixed assets

    The initial measurement of a fixed asset shall be made at its real cost.

    The cost of a purchased fixed asset consists of the purchase price, the relevant taxes, freights, loading

    and unloading fees, professional service fees and other expenses that bring the fixed asset to the

    expected conditions for use and that may be relegated to the fixed asset.

    The cost of fixed assets shall be defined based on the actual purchase price if such purchase price

    exceeds the normal credit and is characterized as financing expense.

    The cost of a self-constructed fixed asset shall be formed by the necessary expenses incurred for

    bringing the asset to the expected conditions for use.

    The book value of the fixed assets acquired as debt assets through the recombination of liabilities shall

    be accounted on basis of the fair value of the fixed assets, and the difference between the book value of

    recombined liabilities and the fair value of debt assets should be accounted into current profits and

    losses.

    Under the conditions that the exchange of non-monetary assets is characterized with business essence,

    and the fair value of the assets received or surrendered can be accounted in a reliable way, the book

    value of assets received is defined on basis of the fair value of assets surrendered, except there are

    conclusive evidences for the stronger reliability of the fair value of assets received.

    For the exchange of those non-monetary assets not meeting the above premises, the book value of

    assets surrendered and related taxes should be accounted as cost of assets received and the profits and

    losses shouldn’t be concluded.

    The book value of the fixed assets acquired through merger of enterprises under the same control

    should be accounted at the book value of the merged enterprise. The book value of the fixed assets

    acquired through merger of enterprise not under the same control should be accounted at the fair value

    of the acquired assets.

    Fixed assets under financing lease shall be booked at the lower price between the fair value of the fixed

    assets dated lease beginning and the minimum real payment.

    3.12.4 Provision for depreciation of fixed assets

    The provision for decrease in value of fixed assets, except those with special approval, is made with

    straight-line method, with consideration of the category of the assets, their estimates of service life and

    net salvage.

    The fixed assets fit-up fee eligible for capitalization should be accrued individually in straight-line

    method adopting the shorter period between two fit-ups and the remaining service life.

    The estimated service life and depreciation rate of fixed assets by category is as following:28

    Category Estimated service year Estimated net scrap value rate Annual rate of depreciation

    House and construction 20-50 10% 1.8% - 4.5%

    Machinery and equipment 5-15 10% 6% - 18%

    Motor vehicles 5-10 10% 9 % - 18%

    Electric appliances 5-10 10% 9%-18%

    Fixtures 5-15 -- 6.6%-20%

    Others 5-10 10% 9% - 18%

    3.13 Accounting of construction in progress

    3.13.1 Category of construction in progress

    The Company distinguishes the characteristics of each construction in progress in their real cost

    accounting.

    3.13.2 Standards and conversion date from construction in progress to fixed assets

    The book value of construction in progress is accounted into fixed assets at all the expenses occurred

    before the build-up of such assets available for intended use. After available for intended use but

    before the final settlement, the built-up fixed assets are accounted at estimated value and accrued under

    the depreciation policy of fixed assets based on construction’s budget, cost or real cost. After the

    settlement, the Company should adjust the provisional estimate by real cost, but not the accrued.

    3.14 Calculation of intangible assets

    3.14.1 Pricing of intangible assets

    The Company accounts its intangible assets at their real acquisition cost.

    The intangible assets shall be initially measured according to its cost. The cost of outsourcing

    intangible assets shall include the purchase price, relevant taxes and other necessary expenditures

    directly attributable to intangible assets for the expected purpose. Where the payment of purchase

    price for intangible assets is delayed beyond the normal credit conditions, which is of financing

    intention, the cost of intangible assets shall be determined on the basis of the current value of the

    purchase price.

    The book value of the intangible assets acquired as debt assets through the recombination of liabilities

    shall be accounted on basis of the fair value of the intangible assets, and the difference between the

    book value of recombined liabilities and the fair value of debt assets should be accounted into current

    profits and losses.

    Under the conditions that the exchange of non-monetary assets is characterized with business essence,

    and the fair value of the assets received or surrendered can be accounted in a reliable way, the book

    value of assets received is defined on basis of the fair value of assets surrendered, except there are

    conclusive evidences for the stronger reliability of the fair value of assets received. For the exchange

    of those non-monetary assets not meeting the above premises, the book value of assets surrendered and

    related taxes should be accounted as cost of assets received and the profits and losses shouldn’t be

    concluded. The book value of the intangible assets acquired through merger of enterprises under the

    same control should be accounted at the book value of the merged enterprise. The book value of the

    intangible assets acquired through merger of enterprise not under the same control should be accounted

    at the fair value of the acquired assets. The cost of intangible assets developed internally includes:

    material and labor expenses, register fee, amortization of other patent and franchise fee, interest

    expense eligible for capitalization during development process, and other direct expenses for making

    the intangible assets available to its intended use.

    3.14.2 Service life and amortization of intangible assets29

    (1) Estimate of service life for the intangible assets with limited life

    Classification Estimated service life

    Land use right 50 years

    Others 10 years

    At end of report period, the Company should recheck the service life and amortization method of the

    limited-life intangible assets.

    The recheck in current period shows that there is no difference in the estimate of service life and

    adoption of amortization method.

    (2) Amortization of intangible assets

    The intangible assets with limited service life should be amortized by straight-line method during the

    period when the intangible asset can bring economic benefits to the enterprise. If it is unable to

    forecast the period when the intangible asset can bring economic benefits to the enterprise, it shall be

    regarded as an intangible asset with uncertain service life and not be amortized.

    3.14.3 Division standards for research stage and development stage during R&D

    The R&D cost of internal projects, during development stage, is defined as intangible assets when

    satisfying the following conditions:

    a. The completion of such intangible assets for use or sale is technically feasible.

    b. The Company has the intention to use or sell the intangible assets after their completion.

    c. The method in which the intangible assets bring economic benefits shows that there exists

    consumption market for the products with use of these intangible assets or the intangible assets

    themselves, or that they are useful in case of internal utilization.

    d. The Company has sufficient technological, financial and other resources to complete the R&D of

    the intangible assets and the ability to make them available for use or sale.

    e. The Company can measure in reliable way the expense of such intangible assets during the

    development stage.

    3.15 Depreciation of other main assets except inventories, investment real estate and financial assets

    3.15.1 Long-term equity investment

    For the long-term investments on stocks accounted with cost method, whose quotation can’t be found

    in active market and fair value can’t be precisely evaluated, the impairment loss is determined on basis

    of the difference between book value and present value defined by discounted future cash flow at

    current marketing rate of return of similar financial assets.

    For other long-term investments on stocks, the difference should be determined as impairment loss

    when the calculation shows that the recoverable value is the long-term investment is lower than its

    book value.

    The impairment loss of long-term investments on stocks can’t be recovered in posterior accounting

    periods once determined.

    3.15.2 Fixed assets, construction in progress, intangible assets, goodwill and other long-term nonfinancial

    assets

    Concerning fixed assets, construction in progress, intangible assets, goodwill and other long-term nonfinancial

    assets, the Company judges the possibility of impairment loss at end of each accounting

    period.

    Concerning the goodwill formed by the merger of enterprises and the intangible assets whose service

    life is uncertain, the Company makes devaluation test every year, no matter if exists indication of

    depreciation or not.30

    After confirming the indication of depreciation, the Company will further estimate the recoverable

    value of the assets, which is determined as higher of the net value after fair value less disposal expense

    and the present value of predicted cash flow.

    If the estimates of recoverable value show that the recoverable value is lower than its book value, the

    Company will write-down the assets’ book value to recoverable value and the write-down difference

    will be determined as assets’ depreciation loss and accounted into current profits and losses.

    After determining the assets’ devaluation loss, the expenses of depreciation or amortization should be

    accordingly adjusted in future periods so that the adjusted book value (after salvage) could be

    amortized systematically during the rest service life of the assets.

    The impairment loss of assets can’t be recovered in posterior accounting periods once determined.

    If there are evidences showing the possibility of depreciation of certain individual asset, the Company

    estimates the recoverable value based on the asset itself.

    3.16 Capitalization of the loan fees

    3.16.1 Definition of capitalization of the loan fees

    Where the borrowing costs incurred to an enterprise can be directly attributable to the acquisition and

    construction or production of assets eligible for capitalization, it shall be capitalized and recorded into

    the costs of relevant assets. Other borrowing costs shall be recognized as expenses on the basis of the

    actual amount incurred, and shall be recorded into the current profits and losses.

    The term "assets eligible for capitalization" shall refer to the fixed assets, investment real estate,

    inventories and other assets, of which the acquisition and construction or production may take quite a

    long time to get ready for its intended use or for sale.

    The borrowing costs shall not be capitalized unless they simultaneously meet the following

    requirements:

    (1) The asset disbursements have already incurred, which shall include the cash, transferred non-cash

    assets or interest bearing debts paid for the acquisition and construction or production activities for

    preparing assets eligible for capitalization;

    (2) The borrowing costs has already incurred; and

    (3) The acquisition and construction or production activities which are necessary to prepare the asset

    for its intended use or sale have already started.

    Where the acquisition and construction or production of a qualified asset is interrupted abnormally and

    the interruption period lasts for more than 3 months, the capitalization of the borrowing costs shall be

    suspended.

    When the qualified asset under acquisition and construction or production is ready for the intended use

    or sale, the capitalization of the borrowing costs shall be ceased.

    Where each part of a qualified asset under acquisition and construction or production is completed

    separately and is ready for use, the capitalization of the borrowing costs in relation to this part of asset

    shall be ceased.

    3.16.2 Capitalization period

    The capitalization period shall refer to the period from the commencement to the cessation of

    capitalization of the borrowing costs, excluding the period of suspension of capitalization of the

    borrowing costs.

    3.16.3 Calculation of capitalized loan fees

    The to-be-capitalized amount of interests of the specially borrowed loans (minus the income of

    interests earned on the unused borrowing loans as a deposit in the bank or as a temporary investment)

    and the ancillary expense incurred to the specifically borrowed loans incurred before a qualified asset31

    under acquisition, construction or production is ready for the intended use or sale, shall be capitalized

    at the incurred amount when they are incurred.

    The enterprise shall calculate and determine the to-be-capitalized amount of interests on the general

    borrowing by multiplying the weighted average asset disbursement of the part of the accumulative

    asset disbursements minus the general borrowing by the capitalization rate of the general borrowing

    used. The capitalization rate shall be calculated and determined in light of the weighted average

    interest rate of the general borrowing.

    Where there is any discount or premium, the amount of discounts or premiums that shall be amortized

    during each accounting period shall be determined by the real interest rate method, and an adjustment

    shall be made to the amount of interests in each period.

    3.17 Revenue recognition

    3.17.1 Selling goods

    No revenue from selling goods may be recognized unless the following conditions are met

    simultaneously: the significant risks and rewards of ownership of the goods have been transferred to

    the buyer by the enterprise; the enterprise retains neither continuous management right that usually

    keeps relation with the ownership nor effective control over the sold goods; the relevant amount of

    revenue can be measured in a reliable way; the relevant economic benefits may flow into the enterprise;

    and the relevant costs incurred or to be incurred can be measured in a reliable way.

    3.17.2 Providing labor services

    If an enterprise can, on the date of the balance sheet, reliably estimate the outcome of a transaction

    concerning the labor services it provides, it shall recognize the revenue from providing services

    employing the percentage-of-completion method. An enterprise may adopt the measurement of the

    work completed to ascertain the schedule of completion under the transaction concerning the providing

    of labor services.

    If an enterprise can’t, on the date of the balance sheet, measure the result of a transaction concerning

    the providing of labor services in a reliable way, it shall be conducted in accordance with the following

    circumstances, respectively:

    (1) If the cost of labor services incurred is expected to be compensated, the revenue from the

    providing of labor services shall be recognized in accordance with the amount of the cost of labor

    services incurred, and the cost of labor services shall be carried forward at the same amount; or

    (2) If the cost of labor services incurred is not expected to compensate, the cost incurred should be

    included in the current profits and losses, and no revenue from the providing of labor services may be

    recognized.

    3.17.3 Abalienating the right to use assets

    No revenue from abalienating of right to use assets may be recognized unless the following conditions

    are met simultaneously: the relevant economic benefits are likely to flow into the enterprise; and the

    amount of revenues can be measured in a reliable way.

    3.18 Income taxes

    The income taxes include current income tax expenses and deferred income tax expenses, which shall

    be accounted into current profits and losses as income tax expenses or incomes, except the adjusted

    goodwill arising from business combination or expenses related to the transactions or affairs directly

    accounted into owners’ equity.32

    The current income tax expenses refer to the current payable income taxes based on the taxable income.

    The taxable income is measured on the adjustments according to the tax law upon pre-tax accounting

    profit.

    The current income tax liabilities (or assets) incurred in the current period or prior periods shall be

    measured in light of the expected payable (refundable) amount of income taxes according to the tax

    law.

    The Company shall employ balance sheet debt method to accrue deferred income tax based on the

    temporary difference between the assets/liabilities book value and tax basis on balance sheet date.

    Except for the deferred income tax liabilities arising from the following transactions, an enterprise

    shall recognize the deferred income tax liabilities arising from all taxable temporary differences:

    (1) The initial recognition of business reputation, or the initial recognition of assets or liabilities

    arising from the following transactions which are simultaneously featured by the following: the

    transaction is not business combination; and at the time of transaction, the accounting profits will not

    be affected, nor will the taxable amount (or the deductible loss) be affected.

    (2) The taxable temporary differences related to the investments of subsidiary companies, associated

    enterprises and joint enterprises, the investing enterprise can control the time of the reverse of

    temporary differences; and the temporary differences are unlikely to be reversed in the excepted future.

    An enterprise shall recognize the deferred income tax liabilities arising from a deductible temporary

    difference to the extent of the amount of the taxable income which it is most likely to obtain and which

    can be deducted from the deductible temporary difference. However, the deferred income tax assets,

    which are arising from the initial recognition of assets or liabilities during a transaction which is

    simultaneously featured by the following, shall not be recognized:

    (1) This transaction is not business combination; and at the time of transaction, the accounting profits

    will not be affected, nor will the taxable amount (or the deductible loss) be affected.

    (2) Where the deductible temporary difference related to the investments of the subsidiary companies,

    associated enterprises and joint enterprises can meet the following requirements simultaneously, the

    enterprise shall recognize the corresponding deferred income tax assets: the temporary differences are

    likely to be reversed in the expected future; and it is likely to acquire any amount of taxable income tax

    that may be used for making up the deductible temporary differences.

    On the balance sheet day, the deferred income tax assets and deferred income tax liabilities shall be

    measured at the tax rate applicable to the period during which the assets are expected to be recovered

    or the liabilities are expected to be settled, and shall reflect the effect of the expected asset recovery or

    liability settlement method on the balance sheet day on the income taxes.

    The carrying amount of deferred income tax assets shall be reexamined on balance sheet day. If it is

    unlikely to obtain sufficient taxable income taxes to offset the benefit of the deferred income tax assets,

    the carrying amount of the deferred income tax assets shall be written down. When it is probable to

    obtain sufficient taxable income taxes, such write-down amount shall be subsequently reversed.

    3.19 Changes in accounting policies, estimates, important correction of errors and the influences

    Not incurred.

    4. Taxation

    Tax Tax bases Tax rate

    V.A.T. Sales volume 17%33

    Business tax Turnover 5%

    Income tax Taxable income 25%, 20%

    Note: The overseas subsidiary undertakings adopt respectively the residential legal tax rates.

    5. Business combinations and consolidated financial statements

    The Company employs  issued in February 2006 for the preparation of consolidated financial statements

    and puts all the subsidiaries under its control in the consolidation.

    The consolidated financial statements, prepared by the parent company, take as basis the separate

    financial statements of the parent company and the consolidated subsidiaries, and adjust by equity

    method the long-term equity investment on the subsidiaries. Through the preparation of consolidated

    version, the internal equity investment and owners’ equity in subsidiaries, the internal investment

    earnings and the distribution of profits in subsidiaries, the internal transaction affairs and the internal

    creditor’s rights/liabilities shall be offset.

    If the merger cost is higher than the fair value of the acquired identifiable assets, the difference shall be

    defined as business reputation. If the merger cost is lower than the fair value of the acquired

    identifiable assets, the difference shall be booked into current profits and losses.

    The subsidiary shall adopt the same accounting policies with the parent company. (For the

    inconsistency between the policies of subsidiaries and parent company, necessary adjustments have

    been made upon those of subsidiaries.)

    Except specially noted, the monetary unit in this chapter is RMB’000.

    5.1 About the subsidiaries

    5.1.1 Subsidiaries acquired in business combinations under the same control

    Invested entity

    Type of subsidiary

    Register place

    Classification

    Register capital

    Business scope

    Real investment at

    year end

    Net investment

    balance

    Equity proportion

    %

    Voting share %

    Consolidated or

    not

    SMPIC Whollyowned

    Shanghai Office

    supplies

    and

    equipment

    125,000 Transport 125,000 125,000 100 100 Yes

    Shanghai

    Butterfly

    Imp. & Exp.

    Co.

    Whollyowned

    Shanghai Imp. &

    Exp. of

    sewing

    machines

    10,000 Imp. &

    Exp. of

    sewing

    machines,

    M&E

    products,

    etc.

    8,000 8,000 80 80 Yes

    5.1.2 Subsidiaries acquired not in business combinations

    Invested entity

    Register place

    Classification

    Register capital

    Business scope

    Real investment at

    year end

    Net investment

    balance

    Equity proportion %

    Voting share %

    Consolidated voting

    share %

    Consolidated or not

    Shanggong

    Transport

    Service Co.

    Shanghai Transport 2,100 Transport 2,100 2,100 100 100 100 Yes34

    Durkopp Adler

    Trading

    Shanghai Co.

    Shanghai Imp. & Exp.

    of sewing

    machines

    USD4,000 Wholesale,

    broker and

    Imp. & Exp.

    of sewing

    machines

    USD1,600 USD2,960 74 74 74 Yes

    Shanghai

    Shanggong

    Imp. & Exp.

    Co.

    Shanghai Imp. & Exp.

    of sewing

    machines

    32,000 Imp. & Exp.

    of M&E

    products and

    instruments

    28,800 28,800 100 100 10 Yes

    Shanghai

    Shuangchong

    Sewing

    Machines Co.

    Shanghai Sewing

    machines,

    etc.

    12,000 Production

    and

    development

    of overlock

    sewing

    machines

    8,400 10,800 90 90 90 Yes

    Shanghai

    Shanggong

    Fangtian

    Machinery Co.

    Shanghai Sewing

    machines,

    etc.

    3,000 Production

    and sales of

    industrial

    sewing

    machines

    and

    components

    1,800 2,400 80 80 80 Yes

    Shanghai

    Shanggong

    Xingda

    Sewing

    Machines Co.

    Shanghai Sewing

    machines,

    etc.

    3,100 Production

    and sales of

    zigzag

    industrial

    sewing

    machines

    2,100 2,700 87.09 87.09 87.09 Yes

    Shanghai

    Shanggong

    Songda

    Machinery Co.

    Shanghai Sewing

    machines,

    etc.

    3,000 Production

    and sales of

    sewing

    machines

    and

    components

    1,950 2,250 75 75 75 Yes

    Shanghai

    Shanggong

    Sewing

    Machines Co.

    Shanghai Industrial

    investment

    etc.

    27,000 Management

    consulting of

    industrial

    investment

    27,000 27,000 100 100 100 Yes

    Durkopp Adler

    Industrial

    Manufacturing

    Shanghai Co.

    Shanghai Sewing

    machines,

    etc.

    USD 10

    million

    Design,

    production

    and sales of

    sewing

    machines,

    consulting

    service

    USD7

    million

    USD10

    million

    100 100 100 Yes

    Shanghai

    Shanggong

    Jiayuan M&E

    Co.

    Shanghai Sewing

    machines,

    etc.

    3,000 Production

    and sales of

    sewing

    machines

    and

    components

    2,010 2,160 72 72 72 Yes

    Shanghai

    Gongfeng Real

    Estate

    Development

    Co.

    Shanghai Real estate

    development

    5,000 Real estate

    development

    4,500 4,500 90 100 100 Yes

    Shanghai

    Suoying Real

    Estate Co.

    Shanghai Real estate

    development

    13,000 Real estate

    development

    8,970 8,970 69 69 69 Yes

    Shanghai

    Industrial

    Sewing

    Machines

    Materials

    General Co.

    Shanghai Sewing

    machines,

    etc.

    4,650 Sales of

    sewing

    machines

    and

    components

    4,650 4,650 100 100 100 Yes

    Shanghai

    Yongde Eco.

    Development

    Shanghai Sales of

    M&E

    products,

    2,000 Sales of

    electro. and

    mechanical

    1,600 1,600 80 80 80 Yes35

    Co. etc. equipments

    Shanghai

    Fuhua Light

    Sewing

    Machines Co.

    Shanghai Production

    and sales of

    apparel

    machinery

    USD1

    million

    Production

    and sales of

    apparel

    machinery

    USD0.55

    million

    USD0.55

    million

    55 55 55 Yes

    Shanggong

    (Europe)

    Holding Co.

    Germany Sewing

    machines,

    etc.

    EUR10

    million

    Sewing

    machines,

    etc.

    EUR10

    million

    EUR10

    million

    100 100 100 Yes

    5.2 Changes in the consolidation of financial statements

    In comparison with the financial statements of the same period of last year, the consolidation scope

    hasn’t changed.

    5.3 Strict restriction of fund transfer ability from subsidiaries to the parent company

    There is no strict restriction of fund transfer ability from subsidiaries to the parent company.

    5.4 Minority interest income and losses

    RMB’

    Entity Period-beginning

    Current minority

    interest

    increase/decrease

    Other increase

    /decrease Period-end

    Minority interest

    Shanggong (Europe) Holding Co.* 29,147,105.04 -10,042439.20 561,513.00 19,666,178.84

    SMPIC Imp.&Exp. Co. 1,000,000.00 1,000,000.00

    Shanghai Suoying Real Estate Co. 5,838,035.99 27,055.38 5,865,091.37

    Pingxiang Dongxu Real Estate Development Co. 299,675.92 -764.10 298,911.82

    Shanghai Shanggong Jiayuan M&E Co. 2,079,072.53 -133,847.11 1,945,225.42

    Shanghai Shanggong Fangtian Machinery Co. 227,014.84 -35,305.79 191,709.05

    Shanghai Fuhua Light Sewing Machines Co. 2,451,125.34 -56,998.88 2,394,126.46

    Shanghai Butterfly Imp.&Exp. Co. 7,086,355.93 397,319.38 7,483,675.31

    Shanghai Yongde Eco. Development Co. 339,125.01 140,944.40 43,698.00 523,767.41

    Shanghai Shanggong Songda Machinery Co. 1,050,303.29 -1,129.42 1,049,173.87

    Durkopp Adler Trading Shanghai Co. 6,010,318.72 -498,526.86 141.96 5,511,933.82

    Shanghai Shanggong Xingda Sewing Machines

    Co.

    210,265.87 -289.47 209,976.40

    Shanghai Gongfeng Real Estate Development Co. 500,000.00 500,000.00

    Total 56,238,398.48 -10,203,981.67 605,352.96 46,639,769.77

    (1) The minority interest of Shanggong (Europe) Holding Co., Ltd. is caused by the consolidation of

    the financial statements, and the other increase/decrease is the result of the difference between the

    beginning balance and the ending balance of foreign currency translation.

    (2) The other increase/decrease of minority interest of Shanghai Yongde Economy Development Co.,

    Ltd. is caused by the increase of capital reserve.

    (3) The other increase/decrease of minority interest ofDurkopp Adler Trading Shanghai Co., Ltd. is the

    result of the difference between the beginning balance and the ending balance of foreign currency

    translation.

    6. Important notes for consolidated financial statements

    (All the following items adopt RMB’ and year-end data except those specially indicated.)

    6.1 Cash and bank

    End of period Beginning of period36

    Item Original

    currency

    Exchange rate Amount to

    RMB

    Original

    currency

    Exchange rate Amount to RMB

    Cash

    Renminbi --- --- 1,032,718.88 --- --- 790,687.70

    EUR --- --- --- --- --- ---

    Subtotal cash in RMB --- --- 1,032,718.88 --- --- 790,687.70

    Bank

    Renminbi --- --- 191,168,323.49 --- --- 161,270,303.32

    USD 2,385,285.70 6.8319 16,296,033.37 4,170,200.16 6.8346 28,501,650.01

    EUR 9,210,717.77 9.6408 88,798,687.88 18,489,010.95 9.6590 178,585,356.77

    JPY --- --- --- 1.00 7.5650 7.57

    HKD 170,237.88 0.8815 150,064.69 299,676.40 8.8189 2,642,816.20

    Subtotal bank in RMB --- --- 296,413,109.43 --- --- 371,000,133.87

    Other money-capitals

    Renminbi --- --- 10,543,912.64 --- --- 8,130,264.40

    Subtotal other moneycapitals

    --- --- 10,543,912.64 --- --- 8,130,264.40

    Total --- --- 307,989,740.95 --- --- 379,921,085.97

    Accounts with limited cashability of mortgage or freeze:

    (1) The credit line guaranty of EUR 1,000,000 of Shanggong Europe Holding Co., Ltd. has been

    mortgaged to German banks.

    (2) The deposit certificate of EUR 671,720 of Shanggong Europe Holding Co., Ltd. has been

    mortgaged to FAG Kugelfischer AG.

    (3) The time certificate of RMB 12,330,000 has been mortgaged to Shenzhen Development Bank

    Shanghai Branch.

    6.2 Trading financial assets

    Year-end

    fair value

    Year-beginning

    fair value

    1. Investment on tradable equity 2,184,160.69 1,016,779.58

    2. Others 339,417.68 206,688.97

    Total 2,523,578.37 1,223,468.55

    The end-of-period balance of trading financial assets is RMB 1,300,109.82 more than the yearbeginning,

    an increase of 106.26%, mainly due to the increase of book value caused by the ascent of

    fair value of the invested stock equity.

    6.3 Bills receivable

    Ending balance Beginning balance

    Bank acceptance 2,150,192.00 1,517,662.30

    6.3.1 At the end of period, there was no bank acceptance belonging to any shareholder who

    individually holds 5% or more of the Company’s equity.

    6.3.2 The bills receivable at the end of period is RMB 632,529.70 more than that of year beginning,

    an increase of 41.68%, mainly due to the increase of bank acceptance amount in current period.

    6.4 Accounts receivable

    6.4.1 Composition of accounts receivable

    End of period Beginning of period37

    Balance

    Prop.

    (%)

    Provision for bad

    debts/prop.

    Balance

    Prop.

    (%)

    Provision for bad

    debts/prop.

    1.Significant accounts

    individually accrued 61,267,284.00 15.12 26,348,306.40 50,584,183.00 11.45 26,011,687.00

    2.Insignificant accounts

    individually accrued 111,564,774.56 27.54 15,703,678.15 169,136,500.48 38.26 17,511,242.42

    3.Other accounts with similar

    risk nature and divided by age 232,273,696.90 57.34 122,992,805.49 222,315,478.61 50.29 122,176,677.84

    Including: within 1 year 102,438,300.04 25.29 5,121,915.00/5% 95,105,078.71 21.52 4,755,289.57/5%

    1-2 years 8,897,454.72 2.20 1,779,490.94/20% 6,373,320.67 1.44 1,274,664.14/20%

    2-3 years 9,693,085.17 2.39 4,846,542.58/50% 9,380,710.43 2.12 4,690,355.33/50%

    Over 3 years 111,244,856.97 27.46 111,244,856.97/100% 111,456,368.80 25.21 111,456,368.80/100%

    Total 405,105,755.46 100.00 165,044,790.04 442,036,162.09 100.00 165,699,607.26

    Net value 240,060,965.42 276,336,554.83

    6.4.2 Changes in the provision for accounts receivable

    Period Year beginning Accrued in Decrease in current period

    current period Write-back Write-off Others

    End of period

    2009 Interim 165,699,607.26 5,000,912.93 4,870,627.96 706,093.99 79,008.20 165,044,790.04

    6.4.3 The end-of-period insignificant accounts receivable that shall be accrued for provision

    represents the accrued depreciation provision for the individual test of Shanggong (Europe) Holding

    Co., Ltd.

    6.4.4 Among the period-end accounts receivable, there is no obligator who holds 5% or more equity

    of the Company.

    6.4.5 The top five accounts receivable represent an amount of RMB 69,735,890.68, 17.21% of total

    period-end balance of accounts receivable.

    6.5 Prepayments

    Analysis of age

    End of period Beginning of period

    Age distribution Balance Proportion (%) Balance Proportion (%)

    Within I year 36,493,599.39 94.23 35,364,377.20 99.39

    1-2 years 2,163,480.72 5.59 193,187.32 0.54

    2-3 years 54,699.00 0.14 2,478.14 0.01

    Over 3 years 15,506.29 0.04 21,687.15 0.06

    Total 38,727,285.40 100 35,581,729.81 100.00

    Among the ending balance of prepayments, there is no creditor who holds 5% or more equity of the

    Company.

    6.6 Other receivables

    6.6.1 Composition of other receivables

    End of period Beginning of period

    Balance

    Prop.

    (%)

    Provision for bad

    debts/Prop.

    Balance Prop. (%)

    Provision for bad

    debts

    1.Significant accounts

    individually accrued --- --- --- --- --- ---

    2.Insignificant accounts

    individually accrued 18,868,923.15 21.04 --- 13,332,258.01 13.86 ---

    3.Other accounts with similar

    risk nature and divided by age 70,793,314.82 78.96 35,134,410.61 82,876,172.62 86.14 35,790,303.19

    Including: within 1 year 30,835,059.77 34.39 1,541,752.98/5% 44,346,249.56 46.09 2,217,312.48/5%38

    1-2 years 5,566,746.80 6.21 1,113,349.36/20% 2,927,403.66 3.04 585,522.72/20%

    2-3 years 3,824,399.97 4.27 1,912,199.99/50% 5,230,102.84 5.44 2,615,051.43/50%

    Over 3 years 30,567,108.28 34.09 30,567,108.28/100% 30,372,416.56 31.57 30,372,416.56/100%

    Total 89,662,237.97 100.00 35,134,410.61 96,208,430.63 100.00% 35,790,303.19

    Net value 54,527,827.36 60,418,127.44

    6.6.2 Changes in the provision for other receivables

    Period Year beginning Accrued in Decrease in current period

    current period Write-back Write-off Others

    End of period

    2009 Interim 35,790,303.19 403,883.00 1,059,775.58 --- 35,134,410.61

    6.6.3 Among the end-of-period other receivables, there is no obligator who holds 5% or more equity

    of the Company.

    6.6.4 The top five other receivables represent an amount of RMB 27,517,233.66, 30.69% of total

    ending balance of accounts receivable.

    6.6.5 The end-of-period insignificant accounts receivable that shall be accrued for provision

    represents the accrued depreciation provision for the individual test of Shanggong (Europe) Holding

    Co., Ltd.

    6.7 Inventories and inventories falling price reserves

    End of period Beginning of period

    Item

    Balance Falling price reserves Balance Falling price reserves

    Raw materials 224,009,632.52 45,379,777.14 252,285,742.78 49,479,582.31

    Work in progress 157,136,023.13 31,267,634.90 158,065,029.20 31,115,016.40

    Finished products 203,411,245.03 30,586,124.88 209,194,217.31 32,796,972.58

    Revolving materials 2,631,847.17 --- 2,677,713.81 ---

    Materials in transit 5,077,322.57 --- 7,792,584.69 ---

    Goods in outside processing 2,849,733.35 213,840.31 2,760,833.60 213,840.31

    Others 2,329,807.32 2,231,364.42 5,546,630.53 2,206,334.44

    Total 597,445,611.09 109,678,741.65 638,322,751.92 115,811,746.04

    Net value 487,766,869.44 522,511,005.88

    Falling price reserves

    Beginning of Current decrease

    period

    Accrued in

    report period Write-back Write-off Others

    Ending balance

    Raw materials 49,479,582.31 --- 739,500.12 3,213,544.80 74,469.03 45,452,068.36

    Work in progress 31,115,016.40 202,914.84 --- --- 50,296.33 31,267,634.91

    Finished products 32,796,972.58 256,981.65 --- 2,481,705.07 33,079.14 30,539,170.02

    Goods in outside

    processing 213,840.31 --- --- --- --- 213,840.31

    Others 2,206,334.44 --- --- --- 306.39 2,206,028.05

    Total 115,811,746.04 459,896.49 739,500.12 5,695,249.87 158,150.89 109,678,741.65

    6.8 Other current assets

    Item End of period Beginning of period

    Rent and assurance 1,278,029.57 970,192.36

    Total 1,278,029.57 970,192.36

    6.9 Financial assets available for sale

    6.9.1 Composition and classification

    Period-end fair value Period-beginning fair value

    Equity instrument available for sale 6,685,726.41 4,420,579.6839

    Among which: stock equity without conditions of trading 6,685,726.41 4,420,579.68

    Total 6,685,726.41 4,420,579.68

    6.9.2 Information about the frozen stock equity at end of period

    Stock equity Quantity of frozen shares Period-end fair value

    Shanghai Sanmao 658,830 5,791,115.70

    SVA Info. 28,989 156,250.71

    6.9.3 The ending balance of financial assets available for sale has decreased by RMB 2,265,146.73,

    51.24% more than that of year-beginning, for the price ascent of stock equity.

    6.10 Long-term equity investment

    End of period Beginning of period

    Balance Depreciation

    reserves

    Balance Depreciation

    reserves

    Long-term equity investment by equity

    method

    Associated undertakings 6,574,371.46 --- 6,574,371.46 ---

    Subtotal 6,574,371.46 --- 6,574,371.46 ---

    Long-term equity investment by cost

    method 37,694,397.74 1,246,848.25 37,694,397.74 1,246,848.25

    Total 44,268,769.20 1,246,848.25 44,268,769.20 1,246,848.25

    Net value 43,021,920.95 43,021,920.95

    6.10.1 Information about associated undertakings

    RMB’000

    Invested entity Type of

    entity

    Register

    place

    Representative Business Register

    capital

    Equity prop. Voting prop.

    SMPIC Optical

    Communication Equipment

    Co.

    Limited

    liability

    Shanghai Xu Zuhai

    Manufacture 1,700 30% 30%

    SMPIC Changfeng Carbon

    Blocks Co.

    Limited

    liability

    Shanghai Han Xiquan

    Manufacture 10,000 20.77% 20.77%

    Year-end

    assets

    Year-end

    liabilities Turnover Net profit Relationship Org. code

    SMPIC Optical Communication Equipment

    Co. 5,289.5 2,357.8 4,928.5 165.3 Association 74727118-3

    SMPIC Changfeng Carbon Blocks Co. 21,335.8 13,980.8 13,473.8 -340.3 Association 76534013-8

    6.10.2 Long-term equity investment by equity method

    Invested entity Original Current-period increase/decrease

    investment

    Year-beginning

    balance Subtotal Among which:

    Bonus

    End-of-period

    balance

    SMPIC Optical

    Communication Equipment

    Co.

    510,000.00 967,937.25 --- --- 967,937.25

    SMPIC Changfeng Carbon

    Blocks Co.

    2,076,800.00 1,598,160.62 --- --- 1,598,160.62

    Changshu Qixing Electricplating

    Hardware Co.

    2,520,000.00 2,242,183.36 --- --- 2,242,183.36

    Shanghai Baochi Great Wall

    Number Prints Co.

    1,000,000.00 1,029,806.57 --- --- 1,029,806.57

    Shanghai Huazhijie Plastic

    Co.

    1,766,689.38 736,283.66 --- --- 736,283.6640

    Total 7,873,489.38 6,574,371.46 --- --- 6,574,371.46

    6.10.3 Long-term equity investment by cost method

    Invested entity

    Original

    investment

    Year-beginning

    balance

    Current increase /

    decrease of

    investment

    End-of-period

    balance

    Shanghai Xinguang Dyeing Weaving & Shirt

    Manufacturing Mill (South Africa) 308,033.99 308,033.99 --- 308,033.99

    Shanghai Shensi Enterprise Development Co. 4,320,000.00 6,057,900.00 --- 6,057,900.00

    Wuxi Shanggong Sewing Machines Co. 153,814.26 153,814.26 --- 153,814.26

    Shanghai Hualian Sewing Machines Co. 400,000.00 400,000.00 --- 400,000.00

    Shanghai Fuji-Xerox Co. 29,140,749.49 29,140,749.49 --- 29,140,749.49

    Shanghai Shanggong Jiarong Sewing Machines

    Co. 500,000.00 500,000.00 --- 500,000.00

    Shanghai Nandie Sewing Machines Co. 285,000.00 285,000.00 --- 285,000.00

    Baoding Investment Co. 7,500.00 7,500.00 --- 7,500.00

    Bank of Shanghai Caoxi Credit Union 551,400.00 551,400.00 --- 551,400.00

    China Perfect Machinery Industry Co., Ltd. 90,000.00 90,000.00 --- 90,000.00

    Shenying & Waiguo Securities Co. 200,000.00 200,000.00 --- 200,000.00

    Shanghai Hirose Precision Industrial Co., Ltd. 2,840,376.00 --- ---

    Total 38,796,873.74 37,694,397.74 --- 37,694,397.74

    The entities marked with * have completed the cancellation of business registration.

    6.10.4 Depreciation reserves for long-term equity investment

    Invested entity Year-beginning Current

    increase

    Current

    decrease

    End of period

    Shanghai Xinguang Dyeing Weaving & Shirt

    Manufacturing Mill (South Africa)

    308,033.99 --- --- 308,033.99

    Wuxi Shanggong Sewing Machines Co. 153,814.26 --- --- 153,814.26

    Shanghai Shanggong Jiarong Sewing Machines Co. 500,000.00 --- --- 500,000.00

    Shanghai Nandie Sewing Machines Co. 285,000.00 --- --- 285,000.00

    Total 1,246,848.25 --- --- 1,246,848.25

    6.11 Investment real estate

    Current-period Year-beginning increase Current-period decrease

    Acquisition Transfer

    -in from

    own use

    real

    estate or

    inventor

    y

    Depreciation

    or

    amortization

    Transfer

    -out to

    own use

    real

    estate

    Other purpose

    (Note)

    End of period

    1.Original cost 202,913,857.37 --- --- --- --- 1,829,468.72 201,084,388.65

    a. Buildings 151,231,095.73 --- --- --- --- 1,829,468.72 149,401,627.01

    b. Land use right 51,682,761.64 --- --- --- --- --- 51,682,761.64

    2.Accumulated

    depreciation or

    amortization

    52,509,233.62 --- --- 2,578,424.20 --- 751,982.40 54,335,675.42

    a. Buildings 47,197,099.07 --- --- 1,941,495.52 --- 751,982.40 48,386,612.19

    b. Land use right 5,312,134.55 --- --- 636,928.68 --- --- 5,949,063.23

    3.Accumulated

    provision

    --- --- --- --- --- --- ---

    a. Buildings --- --- --- --- --- --- ---

    b. Land use right --- --- --- --- --- --- ---

    4.Total book

    value

    150,404,623.75 --- --- -2,578,424.20 --- 1,077,486.32 146,748,713.23

    a. Buildings 104,033,996.66 --- --- -1,941,495.52 --- 1,077,486.32 101,015,014.8241

    b. Land use right 46,370,627.09 --- --- -636,928.68 --- --- 45,733,698.41

    Note: The negative difference in this column is caused by the currency translation difference of

    Shanggong (Europe) Holding Co., Ltd.

    Among the above-mentioned period-end balance of investment real estate, some properties have been

    mortgaged to the banks. Details are disclosed in mortgage assets column.

    6.12 Fixed assets at cost and accumulated depreciation

    6.12.1 Original cost of fixed assets

    Year-beginning Increase Decrease End of period

    Plant & construction 432,776,139.63 5,969,727.16 569,785.66 438,176,081.13

    Equipment and machines 669,903,481.82 15,465,796.27 10,136,681.98 675,232,596.11

    Transport vehicles 27,342,446.40 618,412.33 2,138,920.98 25,821,937.75

    Electric equipment 12,759,964.55 675,461.82 45,755.92 13,389,670.45

    Fixture for fixed assets 867,396.40 --- 211,656.00 655,740.40

    Others 309,626,197.97 4,570,558.20 2,512,620.31 311,684,135.86

    Total 1,453,275,626.77 27,299,955.78 15,615,420.85 1,464,960,161.70

    In current period, an amount of RMB 4,210,317.42 was transferred from construction in progress into

    fixed assets at cost.

    Among the period-end fixed assets balance, some of the plant & construction, equipment and machines

    were mortgaged to bank for borrowings. Details disclosed in the column of mortgage assets.

    6.12.2 Accumulated depreciation

    Year-beginning Increase Accrued Decrease End of period

    Plant & construction 254,835,924.42 1,123,928.65 5,655,404.95 --- 261,615,258.02

    Equipment and machines 510,174,933.05 5,111,416.66 10,607,320.62 8,390,496.57 517,503,173.76

    Transport vehicles 13,718,259.37 --- 951,239.23 1,482,240.33 13,187,258.27

    Electric equipment 7,331,148.41 362,340.18 203,650.52 39,851.46 7,857,287.65

    Fixture for fixed assets 463,584.93 --- 64,182.48 211,656.00 316,111.41

    Others 272,038,690.64 1,363,415.33 6,650,238.61 954,933.03 279,097,411.55

    Total 1,058,562,540.82 7,961,100.82 21,132,036.41 11,079,177.39 1,079,576,500.66

    6.12.3 Depreciation reserves for fixed assets

    Year-beginning Increase Decrease End of period

    Plant & construction 4,913,777.92 --- --- 4,913,777.92

    Equipment and machines 70,198,101.93 --- --- 70,198,101.93

    Others 71,538.63 --- --- 71,538.63

    Total 75,183,418.48 --- --- 75,183,418.48

    6.12.4 Book value of fixed assets

    Year-beginning Increase Decrease End of period

    Plant & construction 173,026,437.29 -809,606.44 569,785.66 171,647,045.19

    Equipment and machines 89,530,446.84 -252,941.01 1,746,185.41 87,531,320.42

    Transport vehicles 13,624,187.03 -332,776.24 656,731.31 12,634,679.48

    Electric equipment 5,428,816.14 109,471.12 5,904.46 5,532,382.80

    Fixture for fixed assets 403,811.47 -64,182.48 --- 339,628.99

    Others 37,515,968.70 -3,443,095.74 1,557,687.28 32,515,185.68

    Total 319,529,667.47 -4,793,130.79 4,536,294.12 310,200,242.56

    6.13 Construction in progress

    Period-end balance Year-beginning balance

    Balance Depreciation

    provision

    Book value Balance Depreciation

    provision

    Book value

    3,219,467.47 --- 3,219,467.47 6,778,786.23 --- 6,778,786.2342

    Project Year- Decrease

    beginning

    Current

    increase Transfer-in

    fixed assets

    Other

    decrease

    End of

    period

    Fund sources

    Sewing machinery

    project

    4,751,257.27 --- 4,140,508.13 95,719.77 515,029.37 Self-raised

    ERP project 1,102,294.50 --- --- 65,752.00 1,036,542.50 Self-raised

    Electric equipment 86,231.96 66,530.84 13,071.87 --- 139,690.93 Self-raised

    Equipment and

    machines

    839,002.50 749,289.59 56,737.42 3,350.00 1,528,204.67 Self-raised

    Total 6,778,786.23 815,820.43 4,210,317.42 164,821.77 3,219,467.47

    There has been no interest capitalization during report period.

    6.14 Intangible assets

    Item Year-beginning Current increase Current decrease End of period

    1.Original cost 172,048,955.07 --- 126,263.42 171,922,691.65

    Land use right 104,802,826.90 --- --- 104,802,826.90

    Trademark right 20,161,268.51 --- --- 20,161,268.51

    Computer software 175,650.00 --- --- 175,650.00

    Patents and specialized

    technology

    46,771,461.46 --- 126,263.42 46,645,198.04

    Others 137,748.20 --- --- 137,748.20

    2.Accumulated

    amortization

    57,594,512.52 3,681,863.92 154,252.80 61,122,123.64

    Land use right 10,828,321.41 1,149,162.96 --- 11,977,484.37

    Trademark right 15,120,950.86 1,008,063.36 --- 16,129,014.22

    Computer software 26,347.50 8,782.50 --- 35,130.00

    Patents and specialized

    technology

    31,595,296.28 1,508,967.72 154,252.80 32,950,011.20

    Others 23,596.47 6,887.38 --- 30,483.85

    3.Accumulated

    provision for

    depreciation

    --- --- --- ---

    Land use right --- --- --- ---

    Trademark right --- --- --- ---

    Computer software --- --- --- ---

    Patents and specialized

    technology

    --- --- --- ---

    Others --- --- --- ---

    4.Book value 114,454,442.55 -3,681,863.92 -27,989.38 110,800,568.01

    Land use right 93,974,505.49 -1,149,162.96 --- 92,825,342.53

    Trademark right 5,040,317.65 -1,008,063.36 --- 4,032,254.29

    Computer software 149,302.50 -,8,782.50 --- 140,520.00

    Patents and specialized

    technology

    15,176,165.18 -1,508,967.72 -27,989.38 13,695,186.84

    Others 114,151.73 -6,887.38 --- 107,264.35

    Among the period-end intangible assets balance, land use right was partially mortgaged to bank for

    borrowings. Details disclosed in the column of mortgage assets.

    6.15 R&D expenses

    Item Year-beginning Current increase Current transfer-out

    Into profits

    and losses

    Defined as

    intangible assets

    End of period

    Expenses in R&D 55,078,865.45 9,981,261.98 9,486,547.20 --- 55,573,580.2343

    stage

    6.16 Long-term deferred expenses

    Original cost Beginning

    balance

    Current

    increase

    Current

    decrease

    Current

    amortized

    Ending

    balance

    Remaining

    amortization

    age

    Development

    of moulds

    1,714,881.20 --- 1,714,881.20 --- 140,504.09 1,574,377.11 5.5 years

    6.17 Business reputation (Goodwill)

    Invested entity Year-beginning Current increase Current decrease End of period

    Beisler GmbH 28,142,462.40 --- 53,027.52 28,089,434.88

    The decline of business reputation is mainly due to the currency translation difference of Shanggong

    (Europe) Holding Co., Ltd. in the report period.

    6.18 Deferred tax, assets and liabilities

    6.18.1 Recognized deferred tax assets

    Item End of period Year-beginning

    Depreciation reserves 17,173,590.30 19,816,471.75

    Carrying back operational loss 24,154,364.36 22,206,994.39

    Total 41,327,954.66 42,023,466.14

    6.18.2 Recognized deferred tax liabilities

    Item End of period Year-beginning

    Assets appraisal evaluation 20,723,771.35 19,844,442.50

    Others 17,897,518.55 17,393,214.04

    Total 38,621,289.90 37,237,656.54

    6.19 Provision for assets impairment

    Year beginning Currently Decrease in current year

    accrued Write-back Write-off Others

    Ending balance

    1.For bad debts 201,489,910.45 5,404,795.93 6,115,531.34 520,966.19 79,008.20 200,179,200.65

    2.For decline of

    value in inventory

    115,811,746.04 459,896.49 355,649.11 6,079,100.88 158,150.89 109,678,741.65

    3.For long-term

    equity investment

    1,246,848.25 --- --- --- --- 1,246,848.25

    4.For fixed assets 75,183,418.48 --- --- --- --- 75,183,418.48

    Total 393,731,923.22 5,864,692.42 6,471,180.45 6,600,067.07 237,159.09 386,288,209.03

    The current-period decrease in “others” is mainly due to the currency translation difference of

    Shanggong (Europe) Holding Co., Ltd. in the report period.

    6.20 Short-term borrowings

    Category Year-end Year-beginning

    Credit borrowings 348,148.62 348,148.62

    Mortgage loans 231,510,207.29 244,003,463.53

    Secured borrowings 140,600,000.00 120,600,000.00

    Total 372,458,355.91 364,951,612.15

    (1) There are no overdue borrowings at end of report period.

    (2) The year-end borrowings at foreign currency amounted to EUR 198,137.84, equal to RMB

    1,910,207.29 at exchange rate of 9.6408.44

    (3) The Company mortgaged some assets to the banks, details disclosed in the column of Mortgaged

    Assets.

    (4) The secured borrowings amounts to RMB 140,600,000.00, among which, an amount of RMB

    5,000,000.00 represents the borrowing to SMPIC Imp. & Exp. Co., Ltd. secured by the wholly-owned

    subsidiary SMPIC, and the rest RMB 1315,600,000.00 secured by Shanghai Pudong Development

    (Group) Co., Ltd. Details disclosed in the column of Mortgaged Assets.

    6.21 Bills payable

    End of period Year-beginning

    Commercial acceptance bill 6,651,389.81 6,025,913.96

    (1) Among the period-end balance, there are no bills payable to creditor who holds 5% or more equity

    of the Company.

    (2) Among the year-end balance, there are no bills payable to connected parties.

    6.22 Accounts payable

    End of period Year-beginning

    141,094,226.16 154,286,725.16

    (1) Among the end-of-period balance, there are no accounts payable to creditor who holds 5% or more

    equity of the Company.

    (2) Among the end-of-period balance, there are no accounts payable to connected parties.

    6.23 Advance receipts

    End of period Year-beginning

    81,475,766.00 89,348,979.40

    (1) Among the end-of-period balance, there are no advances to creditor who holds 5% or more equity

    of the Company.

    (2) Among the end-of-period balance, there are no accounts payable to connected parties.

    6.24 Wages and salaries unpaid

    Year-beginning Current increase Current paid End of period

    1. Salary, bonus and subsidies 35,753,168.29 206,350,156.28 199,584,986.93 42,518,337.64

    2. Employee welfare --- 52,747,899.97 52,747,899.97 ---

    3. Social insurance 490,591.75 11,457,485.10 11,446,308.90 501,767.95

    4. Housing accumulation funds --- 2,405,244.75 2,405,244.75 ---

    5. Labor union and staff

    education expenditure

    568,603.95 611,630.41 590,198.45 590,035.91

    6. Compensation for the

    cancellation of labor relationship

    --- 1,843,709.84 1,843,709.84 ---

    7.Others 184,057.12 15,472.20 176,467.54 23,061.78

    Including: cash-settled sharebased

    payments

    --- --- --- ---

    Total 36,996,421.11 275,431,598.55 268,794,816.38 43,633,203.28

    Note: the year-end balance is mainly composed of staff pension and staff bonus reserves accrued by

    Shanggong Europe Holding Co., Ltd. according to local laws of the subsidiary’s residential country.

    6.25 Tax unpaid

    Tax type End of period Year-beginning Legal tax rate

    V.A.T. -359,285.88 -2,473,821.09 17%

    Business tax 155,457.23 111,607.58 5%

    Tax on city maintenance and construction 89,412.30 98,630.11 7%、1%45

    Income tax -1,441,346.38 7,240,808.78 25%、20%

    Individual income tax 6,603,665.34 6,631,422.74

    Housing property tax 300,691.52 203,521.88

    Land appreciation tax --- 587,797.49

    Stamp tax 31,979.00 31,979.00

    Educational surtax 33,977.84 35,322.02

    Embankment maintenance fee 5,951.14 5,951.14

    Riverway management charges 803.28 3,294.78

    Others 845.34 812.84

    Total 5,422,150.73 12,477,327.27

    Note: the foreign subsidiaries employ the local legal tax rate at their residential countries.

    In comparison with the beginning of year, the tax unpaid at year end was RMB 7,055,176.54 and

    56.54% less, mainly due to the decrease of income tax payment in current period.

    6.26 Other payables

    End of period Year-beginning

    121,742,823.31 121,566,474.38

    (1) Among the end-of-period balance, there are no payables to creditor who holds 5% or more equity

    of the Company.

    (2) Among the end-of-period balance, there are no payables to connected parties.

    6.27 Non-current liabilities due within one year

    Item End of period Year-beginning

    Long-term loans 520,000.00 520,000.00

    6.28 Other current liabilities

    End of period Year-beginning

    585,151.63 891,742.25

    The year-beginning and the period-end balances attribute to the interest and rent prepaid to the

    subsidiary of the Company Shanggong (Europe) Holding Co., Ltd.

    6.29 Long-term loans

    End of period Year-beginning

    Credit borrowings 1,489,984.87 1,489,984.87

    6.30 Long-term payable

    Type End of period Year-beginning

    FAG loans 202,776,947.44 203,159,752.11

    Others 1,832,234.60 1,832,334.37

    Total 204,609,182.04 204,992,086.48

    FAG loans represent the debts that Shanggong (Europe) Holding Co., Ltd. should repay to FAG

    Kugelfischer GmbH, the anterior holding shareholder of Durkopp Adler AG.

    6.31 Anticipated liabilities

    Item End of period Year-beginning

    Pension 382,867,357.92 395,680,935.00

    External guarantee 35,546,274.60 35,546,274.60

    Others 12,958,706.29 13,782,478.0046

    Total 431,372,338.81 445,009,687.60

    (1) The pension refers to the staff pension program of Durkopp Adler AG according to the regulations

    of Germany.

    (2) The external guarantee refers to the contingent liabilities formed from the guarantee for Shanghai

    Worldbest Enterprise Development Co., Ltd.

    6.32 Stock capital

    Actual receipt stock capital:

    End of period Year-beginning

    Quantity Sum Quantity Sum

    Shares subject to conditional sales --- --- 64,830,980 64,830,980.00

    A shares (face value RMB 1.00 per share) 204,943,027 204,943,027.00 140,112,047 140,112,047.00

    B shares (face value RMB 1.00 per share) 243,943,750 243,943,750.00 243,943,750 243,943,750.00

    Total 448,886,777 448,886,777.00 448,886,777 448,886,777.00

    Current-year variations:

    Year-beginning Increase/decrease in report period End of period

    Sum Prop. %

    Ration shares

    Bonus shares

    Shares by

    public reserve

    Other

    Total

    Sum Prop.

    1. Shares subject to

    conditional sales

    1) State-owned shares 64,830,980.00 14.44 -64,830,980.00. -64,830,980.00 --- ---

    2) Shares owned by

    state legal entities --- --- --- --- --- --- --- --- ---

    3) Shares owned by

    other domestic investors --- --- --- --- --- --- --- --- ---

    Including: by domestic

    no state-owned legal

    entities --- --- --- --- --- --- --- --- ---

    Including: by domestic

    natural persons --- --- --- --- --- --- --- --- ---

    4) shares owned by

    foreign investors --- --- --- --- --- --- --- --- ---

    Including: by foreign

    legal entities --- --- --- --- --- --- --- --- ---

    Including: by foreign

    natural persons --- --- --- --- --- --- --- --- ---

    Total shares subject to

    conditional sales

    64,830,980.00 14.44 -64,830,980.00. -64,830,980.00 --- ---

    2. Unconditionally

    tradable shares

    1) Tradable A shares 140,112,047.00 31.21 --- --- --- 64,830,980.00 64,830,980.00 204,943,027.00 45,65

    2) Tradable B shares 243,943,750.00 54.35 --- --- --- --- --- 243,943,750.00 54.35

    3)Tradable shares listed

    abroad

    4)Others

    Total tradable shares 384,055,797.00 85.56 --- --- --- 64,830,980.00 64,830,980.00 448,886,777.00 100.00

    Total equities 448,886,777.00 100.00 --- --- --- --- --- 448,886,777.00 100.00

    6.33 Capital reserves

    Item Year-beginning Current-period

    increase

    Current-period

    decrease

    Period-end

    1.Capital stock 313,159,549.73 --- --- 313,159,549.7347

    premium

    2.Other capital

    reserves

    75,839,961.88 6,574,619.11 --- 82,414,580.99

    3.Changes in fair value 1,949,359.68 2,150,606.73 --- 4,099,966.41

    Total 390,948,871.29 8,725,225.84 --- 399,674,097.13

    The period-end balance of capital reserves registers an increase of 2.23% with RMB 8,725,225.84

    comparing with year-beginning, mainly due to the changes in fair value of financial assets available for

    sale, and the increase of capital reserves of subsidiaries under equity method.

    6.34 Surplus reserves

    Item Year-beginning Current-year increase Current-year decrease Year-end

    Statutory surplus reserve

    2,273,121.26 2,273,121.26

    Free surplus reserve

    2,273,121.26 2,273,121.26

    Total

    4,546,242.52 4,546,242.52

    6.35 Undistributed profits

    Item Amount

    Anterior year-end balance -315,467,421.74

    Add: changes in accounting policies ---

    correction of anterior accounting errors ---

    Beginning balance of report year -315,467,421.74

    Add: current-year net profit of parent company -131,415,724.73

    Less: statutory surplus reserve ---

    free surplus reserve ---

    payable common stock dividend ---

    End of period undistributed profits -446,883,146.47

    6.36 Operating income and cost

    Current report period Anterior report period

    Income Expense Income Expense

    Principal operations 735,028,453.93 662,248,334.00 1,136,302,494.78 872,133,384.94

    Other operations 19,353,585.16 5,513,587.44 26,504,225.51 18,751,269.00

    Total 754,382,039.09 667,761,921.44 1,162,806,720.29 890,884,653.94

    6.36.1 Principal operating income and expense, by business sector

    Current period Last period

    Principal operating

    income

    Principal operating

    expense

    Principal operating

    income

    Principal operating

    expense

    Sewing machines 420,782,498.62 384,747,614.76 678,934,820.04 463,790,811.44

    Int’l trading agent 111,189,090.34 108,583,798.01 184,187,028.31 178,352,243.15

    Material transmission

    equipment 137,429,604.00 110,464,286.40 216,148,131.60 179,586,376.40

    Office supplies 13,853,547.22 13,097,914.79 16,213,006.03 14,895,478.89

    Film equipment 49,123,161.03 44,351,654.01 36,710,991.48 33,549,986.23

    Others 2,650,552.72 1,003,066.03 4,108,517.32 1,958,488.83

    Total 735,028,453.93 662,248,334.00 1,136,302,494.78 872,133,384.94

    6.36.2 Other operations’ income and expense48

    Current period Last period

    Other operating

    income

    Other operating

    expense

    Other operating

    income

    Other operating expense

    Sales of materials 1,918,467.77 1,901,658.62 3,863,800.61 3,601,642.44

    Rent 12,111,881.12 2,206,822.74 14,105,756.29 680,018.09

    Services 202,226.00 --- 20,754.63 ---

    Others 5,121,010.27 1,405,106.08 8,513,913.98 14,469,608.47

    Total 19,353,585.16 5,513,587.44 26,504,225.51 18,751,269.00

    6.36.3 Principal operating income and expense, by location of entities

    Current period Last period

    Principal operating

    income

    Principal operating

    expense

    Principal operating

    income

    Principal operating

    expense

    Domestic 424,170,664.35 399,357,875.23 408,031,918.49 368,019,183.75

    Abroad 353.376.589.28 305,409,258.47 767,601,552.49 543,445,177.39

    Subtotal 777,547,253.63 704,767,133.70 1,175,633,470.98 911,464,361.14

    Less: write-off

    between regions 42,518,799.70 42,518,799.70 39,330,976.20 39,330,976.20

    Total 735,028,453.93 662,248,334.00 1,136,302,494.78 872,133,384.94

    Domestic and abroad refer to the location of subsidiaries.

    6.36.4 The sales to the top five customers total RMB 105,711,372.00, 14.38% of the annual

    operating income.

    6.37 Business tax and extra charges

    Current period Last period

    Business tax 853,128.53 902,582.70

    Tax on city maintenance and construction 218,378.70 205,325.44

    Property tax 1,070,251.97 1,033,451.96

    Extra fee for education 93,590.90 95,018.17

    Others 26,098.86 21,248.27

    Total 2,261,448.96 2,257,626.54

    6.38 Financial expense

    Type Current period Last period

    Interest expenses 30,954,240.27 34,417,271.44

    Less: interest income 2,109,730.61 6,721,994.43

    Exchange loss --- 1,089,599.23

    Less: exchange gain 519,225.33 ---

    Others 1,318,743.94 187,328.07

    Total 29,644,028.27 28,972,204.31

    6.39 Assets depreciation loss

    Current period Last period

    1.Loss in bad debts -525,607.61 -10,484,021.99

    2.Loss in inventory devaluation -279,603.63 1,077,894.07

    Total -805,211.24 -9,406,127.92

    6.40 Income from changes in fair value

    Sources of income from changes in fair value Current period Last period

    Financial instruments 872,969.06 -1,199,901.7549

    6.41 Investment income

    Item Current period Last period

    1.Financial assets investment income

    (1) From disposal of tradable financial assets 83,559.33 66,703.36

    (2) From disposal of financial assets available for sale 103,950.00 ---

    2.Equity investment income

    (1)By cost method 15,163,686.35 13,557,837.51

    (2)By equity method --- 10,146.78

    (3)Gain on disposal of investment --- ---

    Total 15,351,195.68 13,634,687.65

    Among which:

    By cost method

    Invested entity Current-period

    Shanghai Hirose Precision Machinery Co., Ltd. 750,000.00

    Shanghai Fuji-Xerox Co., Ltd. 11,637,292.77

    Shanghai Shensi Enterprise Development Co. 2,776,393.58

    There are no significant restrictions over the inflow of investment earnings.

    6.42 Non-operating income

    Current period Previous period

    1. Gains from disposal of non-current assets 813,631.96 25,407,564.46

    Among which: disposal of fixed assets 813,631.96 25,407,564.46

    2.Gains from non-monetary assets transaction --- ---

    3.Gains from debts reorganization --- ---

    4.Gains from donations --- ---

    5.Government subsidy 152,800.00 ---

    6.Others 379,123.32 615,369.08

    Total 1,345,555.28 26,022,933.54

    Current non-operating income decreased by an amount of RMB 24,677,378.26 and 94.83%, mainly

    due to the decrease of gains from compensation of land parcels exchange and relocation.

    6.43 Non-operating expense

    Current period Previous period

    1.Losses from disposal of non-current assets 329,952.27 486,904.75

    Among which: disposal of fixed assets 329,952.27 486,904.75

    disposal of intangible assets --- ---

    2.Losses from non-monetary assets transaction --- ---

    3.Losses from debts reorganization --- ---

    4.Expense in donations --- 211,500.00

    Including: charitable donations --- 211,500.00

    5.Extraordinary losses 1,882,665.72 ---

    6.Losses from scraped assets --- ---

    7.Amercement expense --- 6,888.39

    8.Compensation expense --- ---

    9.Others 8,037.29 30,109.10

    Total 2,220,655.28 735,402.24

    The current non-operating expense increased by RMB 1,485,253.04 and 201.96%, mainly due to the

    loss from idleness of productivity.

    6.44 Income tax expense

    Item Current period Previous period50

    Current income tax expense 973,638.14 3,652,319.96

    Deferred income tax expense 98,260.09 -779,593.97

    Total 1,071,898.23 2,872,725.99

    6.45 Government subsidy

    Project Current period Previous period

    Government subsidy related to earnings and profits

    1. Special fund for industrial development 147,800.00 ---

    2.Subsidy for commercial brands 5,000.00 ---

    Total 152,800.00

    6.46 Attachment of cash flow statement

    6.46.1 Other cash inflow related to operating activities

    Item Current period

    Receipt of current account 11,275,423.37

    Specific subsidies 152,800.00

    Interest income 2,109,730.61

    Total 13,537,953.98

    6.46.2 Other cash outflow related to operating activities

    Item Current period

    Current account 15,141,001.59

    Sales expenditure 30,628,565.94

    Admin. expenditure 25,637,672.96

    Bank charges 1,318,743.94

    Non-operating expense 8,037.29

    Total 72,734,021.72

    6.46.3 Other cash outflow related to financing activities

    Item Current period

    Bank deposits, guarantee bonds and other mortgages 2,355,326.38

    Total 2,355,326.38

    6.46.4 Supplements of cash flow statement

    Item Current period Previous period

    1.Net profits converted into cash flow from operating activities

    Net profits -141,619,706.40 11,094,701.57

    Add: provision for assets depreciation -805,211.24 -11,981,330.42

    Depreciation of fixed assets, of oil/gas assets and productive biological assets 24,021,831.65 34,499,079.30

    Amortization of intangible assets 13,168,411.12 13,735,033.01

    Amortization of long-term deferred expenses 140,504.09

    Losses in disposal of fixed assets, intangible and other long-term assets (less:

    income) -803,925.03 -25,407,564.46

    Losses on scrapping of fixed assets (less: income) 320,245.34 486,904.75

    Losses on changes in fair value (less: income) -872,969.06 1,199,901.75

    Financial expense (less: income) 31,753,758.88 35,694,198.74

    Investment loss (less: income) -15,351,195.68 -13,634,687.65

    Decrease in deferred income tax assets (less: increase) 695,511.48 -5,626,621.52

    Increase in deferred income tax liabilities (less: decrease) 1,383,633.36 5,806,582.25

    Decrease of inventories (less: increase) 40,877,140.83 -130,931,758.47

    Decrease in receivables under operating activities (less: increase) -18,010,581.38 28,851,309.37

    Increase in payables under operating activities (less: decrease) -22,043,003.52 33,040,183.31

    Others --- ---

    Net cash flows from operating activities -87,145,555.56 -23,174,068.47

    2.Investing and financing activities that do not involve cash receipts and payments

    Conversion of debt into capital --- ---

    Convertible bonds to be expired within one year --- ---51

    Fixed assets under finance lease --- ---

    3.Net increase in cash and cash equivalents

    Cash at the end of the period 279,543,022.77 349,214,461.51

    Less: Cash at the beginning of the period 353,799,316.68 438,292,840.47

    Plus: Cash equivalents at the end of the period ---

    Less: Cash equivalents at the beginning of the period ---

    Net increase in cash and cash equivalents -74,256,293.91 -89,078,378.96

    6.46.5 Composition of cash and cash equivalents

    End of period Year-beginning

    1.Cash 279,543,022.77 353,799,316.68

    Including: cash on hand 1,032,718.88 790,687.70

    Bank deposit immediately available for payment 267,966,391.25 344,878,364.58

    Other monetary fund immediately available for payment 10,543,912.64 8,130,264.40

    Deposit in Central Bank available for payment --- ---

    Deposit in other banks --- ---

    Borrowing from other banks --- ---

    2.Cash equivalents --- ---

    Including: investment in bonds to be expired within three months --- ---

    3.Year-end cash and cash equivalents 279,543,022.77 353,799,316.68

    Including: restricted cash and cash equivalents of parent company or other

    subsidiaries in the group --- ---

    7. Important notes for parent company financial statements

    7.1 Accounts receivable

    7.1.1 Composition of accounts receivable

    End of period Year-beginning

    Balance

    Prop.

    (%)

    Provision for bad

    debts/Prop. %

    Balance

    Prop.

    (%)

    Provision for bad

    debts/Prop. %

    1.Significant accounts

    individually accrued --- --- --- --- --- ---

    2.Insignificant accounts

    individually accrued --- --- --- --- --- ---

    3.Other accounts with similar

    risk nature and divided by age 109,990,236.40 100.00 84,271,732.45 111,954,451.89 100.00 84,258,030.56

    Including: within 1 year 23,205,629.05 21.10 1,160,281.45/5% 24,708,786.86 22.07 1,235,439.34/5%

    1-2 years 684,513.21 0.62 136,902.64/20% 1,057,734.54 0.94 211,546.91/20%

    2-3 years 6,251,091.57 5.68 3,125,545.79/50% 6,753,772.38 6.03 3,376,886.20/50%

    Over 3 years 79,849,002.57 72.60 79,849,002.57/100% 79,434,158.11 70.96 79,434,158.11/100%

    Total 109,990,236.40 100.00 84,271,732.45 111,954,451.89 100.00 84,258,030.56

    Net value 25,718,503.95 27,696,421.33

    7.1.2 Provision for bad debts

    Year Beginning Currently accrued Currently decreased

    Write-back Write-off

    Ending

    2009 Interim 84,258,030.56 582,683.54 568,981.65 --- 84,271,732.45

    7.1.3 There are no accounts receivable to obligator who holds 5% or more equity of the Company.

    7.1.4 The top five obligators’ year-end balance is of RMB 35,652,285.90, 32.41% of period-end

    accounts receivable.

    7.2 Other receivables

    7.2.1 Composition of other receivables

    End of period Year-beginning52

    Balance

    Prop.

    (%)

    Provision for bad

    debts/Prop. %

    Balance

    Prop.

    (%)

    Provision for bad

    debts/Prop. %

    1.Significant accounts

    individually accrued --- --- --- --- --- ---

    2.Insignificant accounts

    individually accrued --- --- --- --- --- ---

    3.Other accounts with similar

    risk nature and divided by age 96,882,361.44 100.00 23,595,682.89 91,095,172.68 100.00 23,322,255.22

    Including: within 1 year 74,430,472.96 76.83 3,721,523.65/5% 69,003,153.09 75.75 3,450,157.65/5%

    1-2 years 2,349,737.80 2.43 469,947.56/20% 1,590,981.21 1.75 318,196.23/20%

    2-3 years 1,395,878.00 1.44 697,939.00/50% 1,894,274.10 2.08 947,137.06/50%

    Over 3 years 18,706,272.68 19.30 18,706,272.68/100% 18,606,764.28 20.42 18,606,764.28/100%

    Total 96,882,361.44 100.00 23,595,682.89 91,095,172.68 100.00 23,322,255.22

    Net value 73,286,678.55 67,772,917.46

    7.2.2 Provision for bad debts

    Year Beginning Currently accrued Currently decreased

    Write-back Write-off

    Ending

    2009 Interim 23,322,255.22 273,427.67 --- --- 23,595,682.89

    7.2.3 There are no accounts receivable to obligator who holds 5% or more equity of the Company.

    7.2.4 The top five obligators’ year-end balance is of RMB 69,210,953.81, 71.44% of year-end

    accounts receivable.

    7.3 Long-term equity investment

    End of period Year-beginning

    Balance Depreciation

    reserves

    Balance Depreciation

    reserves

    Long-term equity investment by cost method 549,510,311.02 8,861,848.25 549,510,311.02 8,861,848.25

    Total 549,510,311.02 8,861,848.25 549,510,311.02 8,861,848.25

    Net value 540,648,462.77 540,648,462.77

    7.3.1 Long-term equity investment by cost method

    Invested entity Original investment Year-beginning

    balance

    Current increase /

    decrease of investment

    Period-end balance

    Durkopp Adler Industrial Manufacturing

    (Shanghai) Co. 53,223,926.00 53,223,926.00 --- 53,223,926.00

    Shanghai Gongfeng Real Estate Development

    Co. 4,500,000.00 4,500,000.00 --- 4,500,000.00

    Shanghai Shanggong Xingda Sewing

    Machines Co. 2,100,000.00 2,100,000.00 --- 2,100,000.00

    Durkopp Adler Trading (Shanghai) Co. 11,830,443.11 11,830,443.11 11,830,443.11

    Shanghai Industrial Sewing Machines

    Materials General Co. 4,600,000.00 4,600,000.00 --- 4,600,000.00

    Shanghai Shanggong Songda Machinery Co. 1,950,000.00 1,950,000.00 --- 1,950,000.00

    Shanghai Shanggong Transport Co. 2,100,000.00 2,100,000.00 --- 2,100,000.00

    Shanghai Yongde Eco. Development Co. 1,600,000.00 1,600,000.00 --- 1,600,000.00

    Shanghai Butterfly Imp.&Exp. Co. 10,318,153.64 10,318,153.64 --- 10,318,153.64

    Shanghai Fuhua Light Sewing Machines Co. 3,168,000.00 3,168,000.00 --- 3,168,000.00

    Shanghai Shanggong Fangtian Machinery

    Co. 1,800,000.00 1,800,000.00 --- 1,800,000.00

    Shanghai Shanggong Jiayuan M&E Co. 2,170,728.50 2,170,728.50 --- 2,170,728.50

    Shanghai Shuangchong Sewing Machines

    Co. 8,400,000.00 8,400,000.00 --- 8,400,000.00

    Shanghai Suoying Real Estate Co. 10,313,953.16 10,313,953.16 --- 10,313,953.16

    Shanghai Shanggong Imp.&Exp. Co. 28,800,000.00 28,800,000.00 --- 28,800,000.00

    Shanghai Shanggong Sewing Machines Co. 27,000,000.00 27,000,000.00 --- 27,000,000.0053

    SMPIC 266,072,314.72 266,072,314.72 --- 266,072,314.72

    Shanggong (Europe) Holding CO. 107,942,043.64 107,942,043.64 --- 107,942,043.64

    Total 547,889,562.77 547,889,562.77 547,889,562.77

    7.3.2 Other long-term equity investment by cost method

    Invested entity Original investment Year-beginning

    balance

    Current increase /

    decrease of

    investment

    Period-end balance

    Shanghai Xinguang Dyeing Weaving &

    Shirt Manufacturing Mill (South Africa) 308,033.99 308,033.99 --- 308,033.99

    Wuxi Shanggong Sewing Machines Co. 153,814.26 153,814.26 --- 153,814.26

    Shanghai Hualian Sewing Machines Co. 400,000.00 400,000.00 --- 400,000.00

    Bank of Shanghai Caoxi Credit Union 551,400.00 551,400.00 --- 551,400.00

    Baoding Investment Co. 7,500.00 7,500.00 --- 7,500.00

    Shenyin & Waiguo Securities Co. 200,000.00 200,000.00 --- 200,000.00

    Shanghai Hirose Precision Machinery Co. 2,840,376.00 --- --- ---

    Total 4,461,124.25 1,620,748.25 --- 1,620,748.25

    7.3.3 Depreciation reserves for long-term equity investment

    Invested entity Year-beginning Current increase Current decrease Period-end

    Shanghai Xinguang Dyeing Weaving & Shirt

    Manufacturing Mill (South Africa) 308,033.99 --- --- 308,033.99

    Wuxi Shanggong Sewing Machines Co. 153,814.26 --- --- 153,814.26

    Shanghai Shuangchong Sewing Machines Co. 8,400,000.00 --- --- 8,400,000.00

    Total 8,861,848.25 --- --- 8,861,848.25

    7.4 Operating revenue and operating expense

    Current report period Anterior report year

    Income Expense Income Expense

    Principal operations 2,729,478.26 4,476,232.34 12,412,138.37 10,959,001.96

    Other operations 4,340,743.48 693,351.15 6,256,505.64 2,054,354.78

    Total 7,070,221.74 5,169,583.49 18,668,644.01 13,013,356.74

    7.5 Investment income

    Invested entity Current period Previous period

    1.Financial assets investment income

    (1) From disposal of tradable financial assets --- ---

    (2) From disposal of financial assets available for sale --- ---

    2.Equity investment income

    (1)By cost method 23,598.25 3,261,222.10

    (2)By equity method --- ---

    (3)Gain on disposal of investment --- ---

    Total 23,598.25 3,261,222.10

    Among which:

    By cost method

    Invested entity Current-period

    Shanghai Hirose Precision Machinery Co., Ltd. 750,000.00

    Shanghai Shuangchong Sewing Machines Co. -726,401.75

    Among which: the Company accrued for the excess losses in Shanghai Shuangchong Sewing

    Machines Co. in current report period.

    a. There are no significant restrictions over the inflow of investment earnings.

    b. Current investment income was 99.28% and RMB 3,237,623.85 less than that of last year, mainly

    due to the decrease of transfer of tradable shares in current period.54

    7.6 Supplements of cash flow statement

    Item Current period Previous period

    1.Net profits converted into cash flow from operating activities

    Net profits -30,681,028.05 -2,621,604.07

    Add: provision for assets depreciation 544,111.21 -3,614,436.85

    Depreciation of fixed assets, of oil/gas assets and productive biological assets 4,305,645.01 8,094,176.18

    Amortization of intangible assets 1,779,704.28 1,779,704.28

    Amortization of long-term deferred expenses --- ---

    Losses in disposal of fixed assets, intangible and other long-term assets (less:

    income) -448,325.90 -25,108,089.74

    Losses on scrapping of fixed assets (less: income) 324,050.00 280,066.10

    Losses on changes in fair value (less: income) -132,728.71 41,472.00

    Financial expense (less: income) 11,351,241.23 11,589,502.89

    Investment loss (less: income) -23,598.25 -3,261,222.10

    Decrease in deferred income tax assets (less: increase) --- ---

    Increase in deferred income tax liabilities (less: decrease) --- ---

    Decrease of inventories (less: increase) 2,017,984.81 -2,189,418.56

    Decrease in receivables under operating activities (less: increase) -2,930,046.03 6,342,934.94

    Increase in payables under operating activities (less: decrease) 9,846,112.49 -49,320,327.88

    Others --- ---

    Net cash flows from operating activities -4,046,877.91 -57,987,242.81

    2.Investing and financing activities that do not involve cash receipts and payments

    Conversion of debt into capital --- ---

    Convertible bonds to be expired within one year --- ---

    Fixed assets under finance lease --- ---

    3.Net increase in cash and cash equivalents

    Cash at the end of the period 47,455,492.89 86,560,872.93

    Less: Cash at the beginning of the period 55,099,297.35 92,076,908.44

    Plus: Cash equivalents at the end of the period --- ---

    Less: Cash equivalents at the beginning of the period --- ---

    Net increase in cash and cash equivalents -7,643,804.46 -5,516,035.51

    8. Affiliated parties and affiliated transactions

    8.1 Profile of affiliated parties

    8.1.1 Profile of affiliated party who really controls the Company

    Controller In-charge

    person

    Founda

    tion

    date

    Relationship Principal activities Change of

    holding

    shareholder or

    real controller

    Equity and

    control prop.

    of the

    controller

    Shanghai Pudong New Area

    State-owned Assets

    Supervision and

    Administration Commission

    Lu

    Fangzhou

    Sept.

    1996

    Holding

    shareholder

    Administration of stateowned

    assets by entrust of

    Shanghai Pudong New Area

    People’s Government

    No changes in

    current year

    24.44%

    8.1.2 Information about the subsidiaries of the Company

    RMB’000

    Subsidiary

    Classification

    Status

    Register place

    Business scope

    Registered capital

    Equity proportion %

    Voting share %

    Organization code

    Shanggong Transport Service Holding Non-company Shanghai Transport 2,100 100 100 13374126-755

    Co. subsidiary system

    Durkopp Adler Trading

    Shanghai Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Imp. & Exp. of

    sewing

    machines, etc.

    USD4

    million

    40 74 78627462-7

    Shanghai Shanggong Imp. &

    Exp. Co.

    Holding

    subsidiary

    One-person

    company

    Shanghai Imp. & Exp. of

    sewing

    machines, etc.

    28,800 100 100 13228445-5

    Shanghai Shuangchong Sewing

    Machines Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Sewing

    machinery, etc.

    12,000 70 90 63132496-8

    Shanghai Shanggong Fangtian

    Machinery Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Sewing

    machinery, etc.

    3,000 60 80 70325891-3

    Shanghai Shanggong Xingda

    Sewing Machines Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Sewing

    machinery, etc.

    3,100 67.74 87.09 70315607-9

    Shanghai Shanggong Songda

    Machinery Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Sewing

    machinery, etc.

    3,000 65 75 70346641-3

    Shanghai Shanggong Sewing

    Machines Co.

    Holding

    subsidiary

    One-person

    company

    Shanghai Industrial

    investment, etc.

    27,000 100 100 74809363-0

    Durkopp Adler Industrial

    Manufacturing Shanghai Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Sewing

    machinery, etc.

    USD10

    million

    70 100 79144591-0

    Shanghai Shanggong Jiayuan

    M&E Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Sewing

    machinery, etc.

    3,000 67 72 13214459-1

    Shanghai Gongfeng Real Estate

    Development Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Real estate

    development,

    etc.

    5,000 90 100 63056265-7

    Shanghai Suoying Real Estate

    Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Real estate

    development,

    etc.

    13,000 69 69 13246335-7

    Shanghai Industrial Sewing

    Machines Materials General Co.

    Holding

    subsidiary

    Non-company

    system

    Shanghai Sewing

    machinery, etc.

    4,650 100 100 13224151-9

    Shanghai Yongde Eco.

    Development Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Sales of electro.

    and mechanical

    equipments, etc.

    2,000 80 80 13224080-7

    Shanghai Fuhua Light Sewing

    Machines Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Production and

    sales of apparel

    machinery

    USD1

    million

    55 55 60725436-5

    Shanggong (Europe) Holding

    Co.

    Holding

    subsidiary

    Co., Ltd. Germany Sewing

    machines, etc.

    EUR10

    million

    100 100 ---

    Shanghai Butterfly Imp.&Exp.

    Co.

    Holding

    subsidiary

    Co., Ltd. Shanghai Imp. & Exp. of

    sewing

    machines, etc.

    10,000 80 80 13225974-3

    SMPIC Holding

    subsidiary

    One-person

    company

    Shanghai Office

    equipments, etc.

    125,000 100 100 13373695-1

    8.1.3 Information about the associated undertaking and associates of the Company can be found in

    current financial annotations 6.10.

    8.1.4 Other affiliated parties of the Company

    Affiliated party Relationship with the Company

    Shanghai Hirose Precision Machinery Co., Ltd. Joint-stock company

    8.2 Affiliated transactions

    8.2.1 The transactions between the consolidated subsidiaries and between the Company and the

    consolidated subsidiary have been written-off.

    8.2.2 Affiliated leasing

    Leaser Lessee Original value

    (RMB’000)

    Initial date

    yyyy/mm/dd

    Ending date

    yyyy/mm/dd

    Annual rent

    (RMB’000)

    Recognition

    principal

    Influence

    on the56

    Company

    SGSB Co.,

    Ltd.

    Shanghai Hirose

    Precision Machinery

    Co., Ltd.

    3,088.7 2006/03/11 2011/03/11 250 Contract No

    significant

    8.2.3 Information about the guarantees for affiliated parties by the Company can be found in current

    financial annotations 9.2. And information about the guarantees for the Company by affiliated parties

    can be found in current financial annotations 10.6.

    9. Contingent Items

    9.1 Contingent liabilities arising from pending litigations or arbitrations

    Because of normal operations, the Company contracted mutual guarantee relationship with Shanghai

    Worldbest Industry Development Co., Ltd. (Worldbest Development). Till June 30, 2009, the balance

    of Shanghai Worldbest’s borrowings from China Construction Bank Shanghai Branch (CCB SH) and

    Shenzhen Development Bank Shanghai Branch (SDB SH) was of RMB 118,488,000, details as

    following:

    RMB’000

    Guarantee Sum Period Relationship Completed or not Influence on financial situation

    Worldbest Development 30,000 2004/11/11-2005/11/09 Joint-liability Not

    Worldbest Development 8,488 2005/03/29-2005/09/29 Joint-liability Not

    Worldbest Development 10,000 2005/05/27-2006/05/23 Joint-liability Not

    Worldbest Development 10,000 2005/06/13-2005/09/29 Joint-liability Not

    Worldbest Development 30,000 2005/06/06-2006/06/01 Joint-liability Not

    Worldbest Development 30,000 2005/07/14-2006/07/04 Joint-liability Not

    Reconciliation agreement

    signed, the joint-liability

    guarantee continuing

    Subtotal 118,488

    In 2007, under the reason that Worldbest Development didn’t repay the borrowings on time, CCB SH

    and SDB SH launched lawsuits at Shanghai No. 1 Intermediate People’s Court (SH No.1 Inter. Court),

    claiming that the Company should complete the obligation as guarantor and repay the principal and

    interest totaled RMB 139,128,000 for Worldbest Development. Among which:

    9.1.1 SDB SH claimed litigation preserving acts for its litigation object totaled RMB 22,408,000 (the

    principal RMB 18,488,000), sealing up some equity in the Company’s stock account and some of its

    banking accounts. SH No.1 Inter. Court has accepted the case and scheduled the hearing for

    September 11, 2007. On September 25, 2007, the same Court acted the first instance result, charging

    the Company to repay the principal RMB 18,487,582 and the interest to SDB SH, and the Company

    could conserve the right to claim recoupment to Worldbest Development. The Company lodged an

    appeal to the Higher People’s Court of Shanghai (Higher Court SH), which accepted the lawsuit on

    September 30, 2007. During the process of the second instance, the Company reached reconciliation

    agreement with SDB SH:

    (1) The Company should cover the litigation fee and property preservation fees paid by SDB SH.

    (2) The Company continued to carry out the joint-liability guarantee for Worldbest Development for

    the next two years since the signature of current agreement. During the period, in case SDB SH and

    Worldbest Development reached new agreement about the time limit of liabilities, the guarantee period

    would be renewed to two years after the expiration of the new time limit.

    (3) For assuring the recovery of right of SDB SH as creditor, the Company offered as mortgages the

    property of 1F business area of No. 419 Baoding Road, Shanghai, which is under the name of SMPIC,

    subsidiary of the Company, and some other stock rights.

    (4) The Company strengthened further its business cooperation with SDB SH.

    (5) The Company withdrawn the lawsuit from Higher Court SH and covered the related charges.57

    (6) In one year after the signature of current agreement, SDB SH wouldn’t claim the guarantee duty

    towards the Company. Furthermore, SDB SH wouldn’t apply to the courts for the execution based on

    the civil judgment No. (2007)HYZMSSCZ98. If the Company failed to fulfill its guarantee duties, it

    should accept that SDB SH chose lawsuit to resolve the problem.

    On September 23, 2008, the Company signed the reconciliation agreement with SDB SH. On

    November 5, 2008, the Company received the civil ruling No. (2007)HGMESZZ134 from Higher

    Court SH, in which allowed the Company to withdraw the appeal in light of the reconciliation

    agreement with SDB SH.

    9.1.2 CCB SH claimed litigation preserving acts for its litigation object totaled RMB 11,672,000 (the

    principal RMB 100,000,000), sealing up some land parcels of the Company. SH No.1 Inter. Court has

    accepted the case and scheduled the hearing for August 7, 2007. On December 13, 2007, the same

    Court acted the first instance result, charging the Company to fulfill the joint liability responsibility.

    The Company lodged an appeal to the Higher Court SH, which accepted the lawsuit on January 2,

    2008. During the process of the second instance, the Company reached reconciliation agreement with

    CCB SH:

    (1) The Company should cover the litigation fee, property preservation fees and lawyer charges paid

    by CCB SH in all the four lawsuits.

    (2) The Company continued to carry out the joint-liability guarantee for Worldbest Development for

    the next two years since the signature of current agreement. During the period, in case CCB SH and

    Worldbest Development reached new agreement about the time limit of liabilities, the guarantee period

    would be renewed to two years after the expiration of the new time limit. The renewal of guarantee

    period didn’t need the agreement of the Company and the Company should continue taking its

    guarantee duty.

    (3) For assuring the recovery of right of CCB SH as creditor, the Company offered as mortgages the

    property of No. 603 Dapu Road, Shanghai, which was fully owned by the Company.

    (4) The Company withdrawn the lawsuit from Higher Court SH and covered the related charges.

    (5) In one year after the signature of current agreement, CCB SH wouldn’t claim the guarantee duty

    towards the Company. Furthermore, CCB SH wouldn’t apply to the courts for the execution based on

    the civil judgments No. (2007)HYZMSSCZ77/78/79/80. If the Company failed to fulfill its guarantee

    duties, it should accept that SDB SH chose lawsuit to resolve the problem.

    On April 10, 2008, the Company signed the reconciliation agreement with CCB SH. On June 26, 2008,

    the Company received the civil ruling No. (2008)HGMESZZ25 from Higher Court SH, in which

    allowed the Company to withdraw the appeal in light of the reconciliation agreement with SDB SH.

    Worldbest Development offered as counter-mortgages for the Company’s guarantee towards its bank

    borrowings the 95% equity of Jiangxi Xinyu Worldbest Far East Textile Co., Ltd. and the 88.53%

    equity of Shanghai Worldbest Sweater Wears Co., Ltd. Without informing and getting the permission

    of the Company, Worldbest Development sold 95% equity of Jiangxi Xinyu Worldbest Far East

    Textile Co., Ltd. to Xinyu State-owned Assets Supervision & Administration Commission (XY S&A

    Commission). XY S&A Commission developed an open integral equity transfer through Jiangxi

    Assets and Equity Exchange. The Company has launched a litigation of properties and assets at SH

    No.1 Inter. Court, claiming invalid the transfer agreement. SH No.1 Inter. Court accepted the lawsuit.

    On March 27, 2008, SH No.1 Inter. Court issued respectively a civil ruling and a civil reconciliation

    letter (2007)HYZMSSCZ35 to seal the commercial dispute between the Company, Worldbest

    Development and XY S&A Commission. The civil ruling allowed the Company to withdraw the

    appeal. At the meantime, the Court presided the reconciliation between the Company and Worldbest

    Development, who promised to offer 23.715% equity of Zhangjiagang Middle East Petrochemical

    Industrial Co., Ltd. and 35.3259% equity of Jiangsu Yalu Industrial Co., Ltd. as substitution of the

    original tender of rights. For assuring the realization of counter-mortgages, the Company applied for

    property preservation to SH No.1 Inter. Court, which permitted to freeze the 23.715% equity of

    Zhangjiagang Middle East Petrochemical Industrial Co., Ltd., 35.3259% equity of Jiangsu Yalu

    Industrial Co., Ltd. and 88.53% equity of Shanghai Worldbest Sweater Wears Co., Ltd.

    All the above-mentioned reconciliation agreements and counter-guarantee contracts were announced

    publicly in the year of 2008. (Details in the resolution announcements L2008-002/010/016)

    Besides, in favor of the reorganization of Worldbest Development, on request of its holding

    shareholder China Worldbest Group Co., Ltd. and Financial Creditors’ Committee, the Company

    agreed to fulfill the guarantee change register for liabilities transfer under the precondition that the

    reorganization program of Worldbest Development could take smooth progress.

    The meeting of the Board of Directors considered and agreed that the Company accrued 30% of the

    guarantee principal amounted RMB 35,546,274.60 as anticipated liabilities in 2008.58

    9.2 Contingent liabilities arising from debt guarantees for affiliated parties and other entities as at June

    30, 2009

    Contingent liabilities arising from debt guarantees for other entities Shanggong (Europe) Holding Co.,

    Ltd. as at June 30, 2009

    RMB’000

    Guarantee Sum Period Relationship Completed

    or not

    Influence on financial situation

    Shanggong (Europe)

    Holding Co., Ltd.

    EUR12.5

    million

    2005/06/30-

    2015/06/30

    Joint-liability Not

    Shanggong (Europe)

    Holding Co., Ltd.

    USD5.3

    million

    2005/06/30-

    2015/10/31

    Letter of

    guarantee

    Not

    Estimated not to be overdue, no negative

    influence upon the Company’s operations.

    According to the agreement with FAG Kugelfischer GmbH (FAG) about the equity transfer of

    Durkopp Adler AG, the Company should take joint-liability for the following cases:

    (1) Besides the payment of ? 949,821 for equity acquisition of Durkopp Adler AG, Shanggong

    (Europe) Holding Co., Ltd. (SG Europe), wholly-owned subsidiary of the Company, should bear the

    banking loans of DA’s original shareholders valued ? 36,525,132.28. As at end of 2005, SG Europe

    had paid all the equity acquisition consideration and ? 9,482,436.84 for banking loans. As originally

    agreed, the rest banking loans around ? 27,042,695.44 would be covered with equal payment in nine

    years at an interest rate of 6% every June 30 since the year 2005.

    The Company assumed joint-liability responsibility for the equity acquisition, as well as the banking

    loans and interests. But the guarantee for banking loans and interests was maximum 50% of actual

    amount and ? 12,500,000.00.

    Till June 30, 2009, SG Europe had paid first-period principal of banking loans ? 6,009,487.85 for FAG,

    with the remaining amount to be ? 21,033,207.59.

    (2) In 2005, the Company offered a letter of guarantee valued USD 5,300,000 to FAG Kugelfischer

    AG for the housing lease contract of DA’s subsidiary in the United States, valid from June 30, 2005 to

    October 31, 2015. On the same day June 30, 2005, SG Europe offered a cash mortgage of ? 635,000

    to FAG (with the same period of validity) for re-guaranteeing the latter’s responsibility in the sale and

    lease-back deal between DA’s subsidiary and UTF Norcross L.L.C.

    Till June 30, 2009, this guarantee deal didn’t cause outflow of economic interest from the Company.

    9.3 Other contingent items

    There are no other contingent items that should be disclosed.

    10. Commitments

    10.1 External investment contract made and unfulfilled or not fully fulfilled and the related accounting

    expenditure

    Till June 30, 2009, the Company hasn’t any contract made and unfulfilled or not fully fulfilled to be

    disclosed.

    10.2 Big-ticket outsourcing contract made and in progress or to be fulfilled and the related accounting

    influence

    Till June 30, 2009, the Company hasn’t any big-ticket outsourcing contract in progress or to be

    fulfilled to be announced.

    10.3 Lease contract made and in progress or to be fulfilled and the related accounting influence

    Till June 30, 2009, the Company hasn’t any lease contract made and in progress or to be fulfilled to be

    disclosed.59

    10.4 Merger agreement made and in progress or to be fulfilled

    Till June 30, 2009, the Company hasn’t any merger agreement made and in progress or to be fulfilled

    to be announced.

    10.5 Restructure program made and in progress or to be fulfilled

    Till June 30, 2009, the Company hasn’t any restructure program made and in progress or to be fulfilled

    to be disclosed.

    10.6 Other significant accounting commitments

    10.6.1 Mortgaged assets

    RMB’000

    Mortgage Purpose Sum Borrower

    436 Jumen Road, 12F&17F 1500 Century Avenue Bank borrowing 50,000 SGSB Group

    Building at 1201 Luoshan Road Bank borrowing 21,600 SGSB Group

    11A-11D, 1500 Century Avenue Bank borrowing 10,000 SGSB Group

    190 Huyi Road Bank borrowing 14,000 SGSB Group

    1407 South Tibet Road Bank borrowing 20,000

    20,000

    22,000

    SGSB Group

    SGSB Group

    SGSB Group

    Building at 175 Xiangyang Road Bank borrowing 20,000

    22,000

    SGSB Group

    SGSB Group

    1-4F, 669 Wusong Road

    Office building 1501-1506, 2699 Xietu Road

    Bank borrowing 30,000 SMPIC

    EUR 1,000,000 Credit deposit Shanggong (Europe) Holding Co.

    EUR 671,700 Credit deposit Shanggong (Europe) Holding Co.

    Accounts receivable EUR 423,700 Bank borrowing EUR 86,000 Shanggong (Europe) Holding Co.

    Fixed assets of EUR 242,500 Bank borrowing EUR 112,000 Shanggong (Europe) Holding Co.

    10.6.2Affiliated parties or other entities offering guarantee for the Company as at June 30, 2009

    RMB’000

    Guarantor Guarantee Type Purpose Sum

    Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 17,500

    Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 27,100

    Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 22,000

    Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 20,000

    Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 29,000

    Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 20,000

    Total 135,600

    10.6.3Equity mortgage

    The Company has mortgaged the 48.96% among the 100% equity of SMPIC held by itself to Shanghai

    Pudong Development (Group) Co., Ltd. as counter guarantee for the guarantee quotation of RMB

    135,600,000 (as at June 30, 2009 real guaranteed borrowing RMB 135,600,000), the period of counter

    guarantee is from June 9,2008 to June 8, 2012.

    11. Events occurring after balance sheet date

    11.1 Profit appropriation proposal after balance sheet date

    According to the resolution by the 2nd meeting of the Sixth Board of Directors, the Company didn’t

    propose profit appropriation for the report period.60

    11.2 Significant litigation, arbitration or commitment after balance sheet date

    Till the disclosure of current report, there is no significant litigation, arbitration or commitment after

    balance sheet date.

    11.3 Significant changes of assets’ price, tax policy and foreign currency rate after balance sheet date

    Till the disclosure of current report, there are no significant changes of assets’ price, tax policy and

    foreign currency rate after balance sheet date.

    11.4 Important damage caused by natural disasters after balance sheet date

    Till the disclosure of current report, there is no important damage caused by natural disasters after

    balance sheet date.

    11.5 Issuance of stocks, bonds and other significant big-ticket liabilities after balance sheet date

    Till the disclosure of current report, there is no issuance of stocks, bonds and other significant bigticket

    liabilities after balance sheet date.

    11.6 Capital increased by turning capital reserves after balance sheet date

    Till the disclosure of current report, there is no capital increased by turning capital reserves after

    balance sheet date.

    11.7 Huge losses after balance sheet date

    Till the disclosure of current report, there are no huge losses after balance sheet.

    11.8 Business combination or disposal of subsidiaries after balance sheet date

    Till the disclosure of current report, there is no business combination or disposal of subsidiaries after

    balance sheet date.

    11.9 Important operation strategy adjustment within one year after balance sheet date

    Till the disclosure of current report, there is no important operation strategy adjustment within one year

    after balance sheet date.

    11.10 Important liabilities reorganization after balance sheet date

    Till the disclosure of current report, there is no important liabilities reorganization which should be

    realized within one year after balance sheet date.

    12. Supplementary information

    12.1 Current-year non-current profit/loss attributable to ordinary shareholders

    RMB’

    Item

    Sum

    1. Disposal of non-current assets, including the written-off of accrued provision for assets depreciation 483,679.69

    2. Tax rebate and tax relief from approval without authorization, formal authorization or under

    occasional situation

    ---

    3. Government subsidies accounted into current profit/loss, except the continuous ration subsidies 152,800.0061

    directly related to the normal operations and stipulated by the government

    4. Dispossession surcharge to non-financial institutions accounted into current profit/loss ---

    5. Earning from the difference between investment cost and the fair value of identifiable net assets

    when the company acquires subsidiaries, associates or joint-venture companies

    ---

    6. Exchange of non-monetary assets ---

    7. Assets under investment or management of trustee ---

    8. Provision for assets’ depreciation under force majeure ---

    9. Liabilities reorganization ---

    10. Business reorganization, including staff arrangement and integration ---

    11. Exceeding above the fair value in transactions whose price are obviously unfair ---

    12. Business combination under the same control from the year-beginning to the combination date ---

    13. Contingent affairs not related to normal operations ---

    14. Fair value changes of tradable financial assets/liabilities and investment profits from the transfer of

    tradable financial assets/liabilities and financial assets available for sale, except futures’ hedging

    activities directly related to the normal operations profit/loss from fair value changes of tradable

    financial assets/liabilities and investment profits from the transfer of tradable financial

    assets/liabilities and financial assets available for sale, except futures’ hedging activities directly

    related to the normal operations

    1,060,478.39

    15. Return of provision for accounts receivable depreciation under individual test ---

    16. Externally entrusted loans ---

    17. Fair value changes in investment real estates adopting fair value method for subsequent calculation ---

    18. Influence of once adjustment upon current profit/loss according to taxation and accounting

    regulations

    ---

    19. Custodian fees from trust operation ---

    20. Other non-operating income/expenditure -1,511,579.69

    21. Other profit/loss items conformed to the definition of non-current profit/loss ---

    22. Influence of minority interest -226,650.69

    23. Influence of income tax -229,378.22

    Total -270,650.52

    12.2 Rate of return on net assets and earning per share

    RMB’

    Net profit Rate of return on net assets Earning per share

    Diluted Weighted Basic Diluted

    Net profit attributable to common shareholders -34.10% -29.66% -0.2928 -0.2928

    Net profit attributable to common shareholders after noncurrent

    profit/loss

    -34.03% -29.59% -0.2922 -0.2922

    12.2.1 Calculation method

    The above-listed data is result of the following calculations:

    Diluted rate of return on net assets

    Diluted rate of return on net assets=P/E

    P represents the net profit attributable to common shareholders or the net profit attributable to common

    shareholders after non-current profits and losses. E represents the period-end net assets attributable to

    common shareholders. The net profit attributable to common shareholders doesn’t include minority

    interest. The net profit attributable to common shareholders after non-current profits and losses is the

    consolidated net profit excluding minority interest after non-current profits and losses of parent

    company and non-current profits and losses of subsidiaries attributable to common shareholders of

    parent company. The period-end net assets attributable to common shareholders don’t include

    minority interest.

    Weighted rate of return on net assets

    Weighted rate of return on net assets=P/(E0+NP/2+Ei*Mi/M0+/-Ek*Mk/M0)62

    P represents the net profit attributable to common shareholders or the net profit attributable to common

    shareholders after non-current profits and losses. NP means the net profit attributed to common

    shareholders. E0 represents the year-beginning net assets attributable to common shareholders, Ei as

    net assets created in current report period by new equity or bonus stocks attributable to common

    shareholders, Ej as net assets decreased in current report period by buying-back or cash bonus

    attributed to common shareholders. M0 means the number of months of report period, Mi the number

    of months from the next one after newly-added net assets to the end of report period, and Mj the

    number of months from the next one after newly-transferred net assets to the end of report period. Ek

    means the increase/decrease of assets caused by other transactions or events, Mk is the number of

    months from the next month after the increase/decrease of assets to the end of report period.

    Basic earning per share

    Basic earning per share=P/S

    S=S0+S1+Si*Mi/M0-Sj*Mj/M0-Sk

    P represents the net profit attributable to common shareholders or the net profit attributable to common

    shareholders after non-current profits and losses. S means the weighted mean of common equity

    publicly issued. S0 is the year-beginning equity number, S1 the added part of equity by capitalization

    of capital reserves or bonus shares, Si the added shares by newly issuance or debt-to-equity program,

    Sj the decreased part of equity by buying-back in report period, and Sk means the number of shrunk

    shares. M0 means the number of months of report period, Mi the number of months from the next one

    after newly-issued shares to the end of report period, and Mj the number of months from the next one

    after newly-decreased net assets to the end of report period.

    In case the enterprise owns dilutive potential common shares, it shall adjust respectively the current net

    profit attributable to common shareholders and the weighted mean of common shares, and calculate on

    thus basis the diluted earning per share.

    Diluted earning per share

    Diluted earning per share=【P+(dilutive potential common equity interest recognized as expensetransfer

    charge)*(1-income tax rate】/(S0+S1+Si*Mi/M0-Sj*Mj/M0-Sk+stock right warrants, stock

    option, convertible bonds and other newly-added weighted mean of common shares)

    P represents the net profit attributable to common shareholders or the net profit attributable to common

    shareholders after non-current profits and losses. On calculating the diluted earning per share, the

    enterprise has considered all the influences of dilutive potential common shares.

    12.2.2 There are no common shares currently non-dilutive but possibly dilutive potential in posterior

    periods in the Company’s equity structure.

    12.2.3 There are no significant changes in common shares or potential common shares from the

    balance sheet date to the disclosure of current financial report.

    13 Authorization of the publication of financial statements

    The current financial statements have been authorized by the Board of Directors on August 27, 2009 to

    be submitted to the related authorities and the public.63

    VIII. For Reference

    1. Interim Report with signature of the Chairman of BOD;

    2. Financial statements signed by the legal person representative, Director in charge of

    accounting affairs and chief accountant;

    3. All the original documents and announcements carried in the newspaper authorized by

    China Securities Regulatory Commission within report period;

    4. Articles of Association of the Company;

    5. Other related materials.

    Chairman of BOD: Zhang Min

    SGSB Group Co., Ltd.

    August 31, 2009

    If the English version of this financial report and related financial statements involve

    any different meaning or understanding from the Chinese version, the latter shall always

    be effective.Prepared by SGSB Group Co., Ltd. RMB'

    Item Note Ending balance Beginning balance Item Note Ending balance Beginning balance

    Cash and bank 307,989,740.95 379,921,085.97 Short-term loans 372,458,355.91 364,951,612.15

    Tradable financial assets 2 ,523,578.37 1 ,223,468.55 Tradable financial liabilities

    Bills receivable 2 ,150,192.00 1 ,517,662.30 Bills payable 6,651,389.81 6 ,025,913.96

    Accounts receivable 240,060,965.42 276,336,554.83 Accounts payable 141,094,226.16 154,286,725.16

    Prepayments 38,727,285.40 35,581,729.81 Advances on sale 81,475,766.00 89,348,979.40

    Interest receivable Wages and salaries unpaid 43,633,203.28 36,996,421.11

    Dividend receivable 7 8,000.00 Tax unpaid 5,422,150.73 12,477,327.27

    Other receivables 54,527,827.36 60,418,127.44 Interest unpaid

    Inventories 487,766,869.44 522,511,005.88 Dividend unpaid 5 80,587.00 1 ,634,717.91

    Long-term creditor-investment to be expired

    in one year Other payables 121,742,823.31 121,566,474.38

    Other current assets 1 ,278,029.57 9 70,192.36 Long-term liabilities to be expired in one year 5 20,000.00 5 20,000.00

    Total current assets 1,135,024,488.51 1,278,557,827.14 Other current liabilities 5 85,151.63 8 91,742.25

    Total current liabilities 774,163,653.83 788,699,913.59

    Available for sale financial assets 6 ,685,726.41 4 ,420,579.68 Long-term loans 1,489,984.87 1 ,489,984.87

    Held-to-maturity investment Bonds payable

    Long-term receivables Long-term accounts payable 204,609,182.04 204,992,086.48

    Long-term investment on stocks 43,021,920.95 43,021,920.95 Specific payable

    Investment properties 146,748,713.23 150,404,623.75 Contingent liabilities 431,372,338.81 445,009,687.60

    Fixed assets 310,200,242.56 319,529,667.47 Deferred tax, debit 38,621,289.90 37,237,656.54

    Construction in progress 3 ,219,467.47 6 ,778,786.23 Other non-current liabilities

    Construction materials Total non-current liabilities 676,092,795.62 688,729,415.49

    Disposal of fixed assets Total liabilities 1,450,256,449.45 1,477,429,329.08

    Consumable biological asset Paid-up capital (or stock) 448,886,777.00 448,886,777.00

    Oil&gas asset Capital reserve fund 399,674,097.13 390,948,871.29

    Intangible assets 110,800,568.01 114,454,442.55 Less: treasury stock

    R&D expense 55,573,580.23 55,078,865.45 Surplus reserve fund 4,546,242.52 4 ,546,242.52

    Goodwill 28,089,434.88 28,142,462.40 Undistributed profit - 446,883,146.47 - 315,467,421.74

    Long-term unamortized expense 1 ,574,377.11 Difference of foreign currency translation - 20,853,715.38 - 20,169,554.87

    Deferred tax, asset 41,327,954.66 42,023,466.14

    Total owners' equity attributable to parent

    company 385,370,254.80 508,744,914.20

    Other non-current assets Minority interests 46,639,769.77 56,238,398.48

    Total non-current assets 747,241,985.51 763,854,814.62 Total owners' equity 432,010,024.57 564,983,312.68

    Total assets 1,882,266,474.02 2,042,412,641.76 Total liabilities and owners' equity 1,882,266,474.02 2,042,412,641.76

    Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Meng Xiangyun

    Balance Sheet

    2009-6-302009-6-30

    Prepared by SGSB Group Co., Ltd.

    RMB'

    Item Note Current period Last period

    Total operating revenues 754,382,039.09 1 ,162,806,720.29

    Less: operating costs 667,761,921.44 8 90,884,653.94

    Principal operating tax and associate charge 2,261,448.96 2 ,257,626.54

    Operating expense 104,016,486.35 1 41,817,767.58

    Administration expense 107,400,238.22 1 32,035,485.48

    Financing expense 29,644,028.27 2 8,972,204.31

    Asset impairment loss - 805,211.24 -9,406,127.92

    Add: Net income in fluctuation of fair value(less: net loss) 872,969.06 -1,199,901.75

    Investment income 15,351,195.68 1 3,634,687.65

    Including: investment income in associated and joint-ventured

    enterprises

    Operating profit - 139,672,708.17 -11,320,103.74

    Non-operating income 1,345,555.28 2 6,022,933.54

    Non-operating expense 2,220,655.28 7 35,402.24

    Including: net loss in disposal of non-current assets

    Total profit - 140,547,808.17 1 3,967,427.56

    Income tax 1,071,898.23 2 ,872,725.99

    Net profit - 141,619,706.40 1 1,094,701.57

    Net profit attributable to parent company - 131,415,724.73 8 ,513,676.04

    Minority interest - 10,203,981.67 2 ,581,025.53

    Basic earning per share - 0.2928 0 .0190

    Diluted earning per share - 0.2928 0 .0190

    Profit/Loss StatementPrepared by SGSB Group Co., Ltd. RMB'

    Item Note Current period Last period

    1. Cash flow from operating activities

    Cash inflow from sale of goods and provision of services 818,308,730.08 1,365,067,943.37

    Repayment of tax received 34,099,091.09 27,135,892.98

    Other cash flow related to operating activities 13,537,953.98 31,540,774.94

    Total cash inflow from operating activities 865,945,775.15 1,423,744,611.29

    Cash outflow for purchase of goods and services 593,758,989.02 983,871,867.12

    Payment to and for staff 268,794,816.28 361,793,603.71

    Taxation paid 17,803,503.69 24,726,230.41

    Other payment related to operating activities 72,734,021.72 76,526,978.52

    Total cash outflow from operating activities 953,091,330.71 1,446,918,679.76

    Net cash in/outflow generated from operations -87,145,555.56 -23,174,068.47

    2. Cash flow from investing activities

    Cash inflow from retirement of investment

    Cash inflow from profit of investment 15,351,195.68 14,593,033.33

    Cash gain from disposal of fixed assets, intangible assets, and other longterm

    investment 2,104,952.75 30,824,412.48

    Cash inflow from disposal of subsidiaries and other operating units 17,791,100.00

    Other proceeds related to investment activities

    Total cash inflow from investing activities 35,247,248.43 45,417,445.81

    Cash paid for acquisition of fixed assets, intangible assets and other longterm

    assets 14,373,861.37 47,415,617.45

    Cash paid for investment 314,855.01 1,796,471.61

    Cash paid for acquisition of subsidiaries and other operating units

    Cash paid for other activities related to investment

    Total cash outflow from investing activities 14,688,716.38 49,212,089.06

    Net cash in/outflow generated from investment activities 20,558,532.05 -3,794,643.25

    3. Cash flow from financing activities

    Absorption of investment 3,699,538.78

    Borrowings raised 217,200,000.00 267,200,000.00

    Other cash inflow related to financing activities

    Total cash inflow from financing activities 217,200,000.00 270,899,538.78

    Borrowings repaid 209,693,256.24 302,063,848.60

    Dividend, interest and profit paid 12,268,768.18 31,790,626.87

    Other cash outflow related to financing activities 2,355,326.38

    Total cash outflow from financing activities 224,317,350.80 333,854,475.47

    Net cash in/outflow from financing activities -7,117,350.80 -62,954,936.69

    4. Influence of fluctuation of exchange rate -551,919.60 845,269.45

    5. Net increase/decrease in cash and cash equivalents -74,256,293.91 -89,078,378.96

    6. Beginning balance of cash and cash equivalents 353,799,316.68 438,292,840.47

    7. Ending balance of cash and cash equivalents 279,543,022.77 349,214,461.51

    Cash Flow Statement

    As at 30 June 20092009-6-30

    Prepared by SGSB Group Co., Ltd., not audited RMB'

    Paid-up capital Capital reserve Less: treasury

    stock

    Surplus reserve General risk

    preparation

    Undistributed profit unaffirmed

    investment los

    Converted difference in foreign

    currency statement

    1. Last accounting period balance 1 448,886,777.00 411,218,244.59 4,546,242.52 -283,205,720.63 3,028,055.36 59,205,010.45 643,678,609.29

    Add: accounting policy changes 2

    Correction of previous-period accounting errors 3

    2. Beginning balance 4 448,886,777.00 411,218,244.59 4,546,242.52 -283,205,720.63 3,028,055.36 59,205,010.45 643,678,609.29

    3. Increase/decrease 5 -4,237,459.46 8,513,676.04 3,739,803.44 6,443,296.99 14,459,317.01

    (1) Net profit 6 8,513,676.04 2,581,025.53 11,094,701.57

    (2) Gains and losses directly into owners' equity 7 -4,237,459.46 3,739,803.44 3,862,271.46 3,364,615.44

    a. Net value of fluctuation in fair value of tradable financial assets 8 -15,419,035.97 -15,419,035.97

    b. Influence of changes of other owners' equity from invested units under equity

    method

    9

    c. Influence of income tax related to owners' equity 10

    d. Others 11 11,181,576.51 3,739,803.44 3,862,271.46 18,783,651.41

    Subtotal of (1) and (2) 12 -4,237,459.46 8,513,676.04 3,739,803.44 6,443,296.99 14,459,317.01

    (3) Owner inputs and reducing capital 13

    a. Owner inputs capital 14

    b. Shares included in owners' equity 15

    c. Others 16

    (4) Profit distribution 17

    a. Surplus reserve 18

    b. General risk reserve 19

    c. Distribution to owners or shareholders 20

    d. Others 21

    (5) Inner carry-over of owners' equity 22

    a. Capital reserve turn to stock equity 23

    b. Surplus reserve turn to stock equity 24

    c. Surplus reserve to recover loss 25

    d. Others 26

    4. Ending balance 27 448,886,777.00 406,980,785.13 4,546,242.52 -274,692,044.59 6,767,858.80 65,648,307.44 658,137,926.30

    Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Meng Xiangyun

    Owner's equity attributable to parent company Minority interest Total owners' equity

    Owners' Equity-Consolidated

    Item Line

    Previous period balancePrepared by SGSB Group Co., Ltd., not audited

    Paid-up capital Capital reserve Less: treasury stock Surplus reserve

    General risk

    preparation

    Undistributed

    profit

    Unaffirmed

    investment loss

    Converted difference

    in foreign currency

    statements

    1. Last accounting period balance 1 448,886,777.00 390,948,871.29 4,546,242.52 -315,467,421.74 -20,169,554.87 56,238,398.48 564,983,312.68

    Add: accounting policy changes 2

    Correction of previous-period accounting errors 3

    2. Beginning balance 4 448,886,777.00 390,948,871.29 4,546,242.52 -315,467,421.74 -20,169,554.87 56,238,398.48 564,983,312.68

    3. Increase/decrease 5 8,725,225.84 -131,415,724.73 -684,160.51 -9,598,628.71 -132,973,288.11

    (1) Net profit 6 -131,415,724.73 -10,203,981.67 -141,619,706.40

    (2) Gains and losses directly into owners' equity 7 8,725,225.84 - - - - - -684,160.51 605,352.96 8,646,418.29

    a. Net value of fluctuation in fair value of tradable financial assets 8 2,150,606.73 2,150,606.73

    b. Influence of changes of other owners' equity from invested units under

    equity method 9 6,574,619.11 6,574,619.11

    c. Influence of income tax related to owners' equity 10 -

    d. Others 11 -684,160.51 605,352.96 -78,807.55

    Subtotal of (1) and (2) 12 8,725,225.84 -131,415,724.73 - -684,160.51 -9,598,628.71 -132,973,288.11

    (3) Owner inputs and reducing capital 13 - -

    a. Owner inputs capital 14 -

    b. Shares included in owners' equity 15 -

    c. Others 16 -

    (4) Profit distribution 17 -

    a. Surplus reserve 18

    b. General risk reserve 19

    c. Distribution to owners or shareholders 20

    d. Others 21

    (5) Inner carry-over of owners' equity 22 -

    a. Capital reserve turn to stock equity 23

    b. Surplus reserve turn to stock equity 24

    c. Surplus reserve to recover loss 25

    d. Others 26

    4. Ending balance 27 448,886,777.00 399,674,097.13 4,546,242.52 -446,883,146.47 -20,853,715.38 46,639,769.77 432,010,024.57

    Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Meng Xiangyun

    Owners' Equity -Consolidated

    Item Line

    Current period balance

    Owners' equity attributable to parent company

    Minority interest Total owners' equity

    RMB'

    January-June, 20092009-6-30

    Prepared by SGSB Group Co., Ltd., not audited

    Paid-up capital Capital reserve Less: treasury stock Surplus reserve

    General risk

    preparation Undistributed profit

    Unaffirmed

    investment loss

    Converted difference in foreign

    currency statements

    1. Last accounting period balance 1 448,886,777.00 409,298,191.49 4,546,242.52 -496,149,270.77 366,581,940.24

    Add: accounting policy changes 2

    Correction of previous-period accounting errors 3

    2. Beginning balance 4 448,886,777.00 409,298,191.49 4,546,242.52 -496,149,270.77 366,581,940.24

    3. Increase/decrease 5 -13,284,042.48 -2,621,604.07 -15,905,646.55

    (1) Net profit 6 -2,621,604.07 -2,621,604.07

    (2) Gains and losses directly into owners' equity 7 -13,284,042.48 -13,284,042.48

    a. Net value of fluctuation in fair value of tradable financial assets 8 -13,284,042.48 -13,284,042.48

    b. Influence of changes of other owners' equity from invested units under equity method 9

    c. Influence of income tax related to owners' equity 10

    d. Others 11

    Subtotal of (1) and (2) 12 -13,284,042.48 -2,621,604.07 -15,905,646.55

    (3) Owner inputs and reducing capital 13

    a. Owner inputs capital 14

    b. Shares included in owners' equity 15

    c. Others 16

    (4) Profit distribution 17

    a. Surplus reserve 18

    b. General risk reserve 19

    c. Distribution to owners or shareholders 20

    d. Others 21

    (5) Inner carry-over of owners' equity 22

    a. Capital reserve turn to stock equity 23

    b. Surplus reserve turn to stock equity 24

    c. Surplus reserve to recover loss 25

    d. Others 26

    4. Ending balance 27 448,886,777.00 396,014,149.01 4,546,242.52 -498,770,874.84 350,676,293.69

    Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Meng Xiangyun

    Owners' Equity-Parent Company

    Item Line

    Previous period balance

    Owners' equity attributable to parent company

    Minority interest Total Owners'

    equity

    RMB'2009-6-30

    Prepared by SGSB Group Co., Ltd., not audited

    Paid-up capital Capital reserve Less: treasury

    stock Surplus reserve General risk

    preparation Undistributed profit Unaffirmed

    investment loss

    Converted difference in

    foreign currency statements

    1. Last accounting period balance 1 448,886,777.00 394,611,254.25 4,546,242.52 -543,874,979.20 304,169,294.57

    Add: accounting policy changes 2

    Correction of previous-period accounting errors 3

    2. Beginning balance 4 448,886,777.00 394,611,254.25 4,546,242.52 -543,874,979.20 304,169,294.57

    3. Increase/decrease 5 2,150,606.73 -30,681,028.05 -28,530,421.32

    (1) Net profit 6 -30,681,028.05 -30,681,028.05

    (2) Gains and losses directly into owners' equity 7 2,150,606.73 2,150,606.73

    a. Net value of fluctuation in fair value of tradable financial

    assets 8 2,150,606.73 2,150,606.73

    b. Influence of changes of other owners' equity from invested

    units under equity method 9 -

    c. Influence of income tax related to owners' equity 10 -

    d. Others 11 -

    Subtotal of (1) and (2) 12 2,150,606.73 -30,681,028.05 - - - -28,530,421.32

    (3) Owner inputs and reducing capital 13 -

    a. Owner inputs capital 14 -

    b. Shares included in owners' equity 15

    c. Others 16 -

    (4) Profit distribution 17 -

    a. Surplus reserve 18

    b. General risk reserve 19

    c. Distribution to owners or shareholders 20

    d. Others 21

    (5) Inner carry-over of owners' equity 22 -

    a. Capital reserve turn to stock equity 23

    b. Surplus reserve turn to stock equity 24

    c. Surplus reserve to recover loss 25

    d. Others 26

    4. Ending balance 27 448,886,777.00 396,761,860.98 4,546,242.52 -574,556,007.25 - - 275,638,873.25

    Owners' Equity-Parent Company

    Item

    Current period balance

    Owners' equity attributable to parent company Minority interest

    Line

    RMB'

    Total Owners' equityAs at June 30, 2009

    Prepared by SGSB Group Co., Ltd. RMB'

    Item Note Ending balance Beginning balance Item Note Ending balance Beginning balance

    Cash and bank 5 9,785,492.89 65,099,297.35 Short-term loans 3 35,548,148.62 3 25,548,148.62

    Tradable financial assets 3 39,417.68 206,688.97 Tradable financial liabilities

    Bills receivable 3 78,000.00 470,000.00 Bills payable

    Accounts receivable 2 5,718,503.95 27,696,421.33 Accounts payable 2 9,318,645.59 3 1,766,559.39

    Prepayments 4 ,295.00 17,295.00 Advances on sale 4 ,306,103.66 4 ,764,535.81

    Interest receivable Wages and salaries unpaid 2 ,045.20

    Dividend receivable 6 80,918.26 2,209,894.09 Tax unpaid 2 4,575.85 3 4,445.20

    Other receivables 7 3,286,678.55 67,772,917.46 Interest unpaid

    Inventories 1 1,217,423.33 12,367,241.54 Dividend unpaid 1 ,032,818.86 1 ,032,818.86

    Long-term creditor-investment to be expired

    in one year Other payables

    1 94,091,125.69 1 81,330,843.10

    Other current assets Long-term liabilities to be expired in one year 4 00,000.00 4 00,000.00

    Total current assets 1 71,410,729.66 175,839,755.74 Other current liabilities

    Total current liabilities 5 64,723,463.47 5 44,877,350.98

    Available for sale financial assets 5 ,947,366.41 3,796,759.68 Long-term loans

    Held-to-maturity investment Bonds payable

    Long-term receivables Long-term accounts payable 1 ,474,782.00 1 ,474,782.00

    Long-term investment on stocks 5 40,648,462.77 540,648,462.77 Specific payable

    Investment properties 4 9,785,891.56 50,942,570.84 Contingent liabilities 3 5,546,274.60 3 5,546,274.60

    Fixed assets 6 4,600,367.67 68,362,565.67 Deferred tax, debit

    Construction in progress 7 75,087.14 793,335.04 Other non-current liabilities

    Construction materials Total non-current liabilities 3 7,021,056.60 3 7,021,056.60

    Disposal of fixed assets Total liabilities 6 01,744,520.07 5 81,898,407.58

    Consumable biological asset Paid-up capital (or stock) 4 48,886,777.00 4 48,886,777.00

    Oil&gas asset Capital reserve fund 3 96,761,860.98 3 94,611,254.25

    Intangible assets 4 4,215,488.11 45,684,252.41 Less: treasury stock

    R&D expense Surplus reserve fund 4 ,546,242.52 4 ,546,242.52

    Goodwill Undistributed profit -574,556,007.25 -543,874,979.20

    Long-term unamortized expense Difference of foreign currency translation

    Deferred tax, asset Total owners' equity attributable to parent

    company 2 75,638,873.25 3 04,169,294.57

    Other non-current assets Minority interests

    Total non-current assets 7 05,972,663.66 710,227,946.41 Total owners' equity 2 75,638,873.25 3 04,169,294.57

    Total assets 8 77,383,393.32 886,067,702.15 Total liabilities and owners' equity 8 77,383,393.32 8 86,067,702.15

    Legal representative: Zhang Min CFO: Ma Minliang Financial Director: Meng Xiangyun

    Balance Sheet-Parent CompanyProfit/Loss Statement-Parent Company

    As at 30 June 2009

    Prepared by SGSB Group Co., Ltd.

    RMB'

    Item Note Current period Last period

    Total operating revenues 7,070,221.74 18,668,644.01

    Less: operating costs 5,169,583.49 13,013,356.74

    Principal operating tax and associate charge 174,450.10 249,819.70

    Operating expense 114,579.82 520,381.20

    Administration expense 20,531,755.54 25,156,886.50

    Financing expense 11,523,239.73 11,582,054.55

    Asset impairment loss 544,111.21 -1,076,110.07

    Add: Net income in fluctuation of fair value(less: net loss) 132,728.71 - 41,472.00

    Investment income 23,598.25 3,261,222.10

    Including: investment income in associated and joint-ventured

    enterprises

    Operating profit - 30,831,171.19 - 27,557,994.51

    Non-operating income 474,193.14 25,418,190.14

    Non-operating expense 324,050.00 481,799.70

    Including: net loss in disposal of non-current assets

    Total profit - 30,681,028.05 - 2,621,604.07

    Income tax

    Net profit - 30,681,028.05 -2,621,604.07

    Net profit attributable to parent company

    Minority interest

    Basic earning per share

    Diluted earning per shareCash Flow Statement-Parent Company

    As at 30 June 2009

    Prepared by SGSB Group Co., Ltd. RMB'

    Item Note Current period Last period

    1. Cash flow from operating activities

    Cash inflow from sale of goods and provision of services 8,874,928.67 18,568,197.88

    Repayment of tax received

    Other cash flow related to operating activities 14,597,252.84 46,855,294.66

    Total cash inflow from operating activities 23,472,181.51 65,423,492.54

    Cash outflow for purchase of goods and services 5,425,071.17 13,982,108.74

    Payment to and for staff 10,769,512.49 12,533,584.99

    Taxation paid 1,269,299.48 2,954,938.42

    Other payment related to operating activities 10,055,176.28 93,940,103.20

    Total cash outflow from operating activities 27,519,059.42 123,410,735.35

    Net cash in/outflow generated from operations -4,046,877.91 -57,987,242.81

    2. Cash flow from investing activities

    Cash inflow from retirement of investment

    Cash inflow from profit of investment 3,261,222.10

    Cash gain from disposal of fixed assets, intangible assets, and other

    long-term investment 576,250.00 30,223,226.28

    Cash inflow from disposal of subsidiaries and other operating units

    Other proceeds related to investment activities

    Total cash inflow from investing activities 576,250.00 33,484,448.38

    Cash paid for acquisition of fixed assets, intangible assets and other

    long-term assets 746,592.67 7,716,621.03

    Cash paid for investment 7,019,000.00

    Cash paid for acquisition of subsidiaries and other operating units

    Cash paid for other activities related to investment

    Total cash outflow from investing activities 746,592.67 14,735,621.03

    Net cash in/outflow generated from investment activities -170,342.67 18,748,827.35

    3. Cash flow from financing activities

    Absorption of investment

    Borrowings raised 182,200,000.00 232,200,000.00

    Other cash inflow related to financing activities

    Total cash inflow from financing activities 182,200,000.00 232,200,000.00

    Borrowings repaid 172,200,000.00 187,400,000.00

    Dividend, interest and profit paid 10,964,196.29 10,683,711.67

    Other cash outflow related to financing activities 2,330,000.00

    Total cash outflow from financing activities 185,494,196.29 198,083,711.67

    Net cash in/outflow from financing activities -3,294,196.29 34,116,288.33

    4. Influence of fluctuation of exchange rate -132,387.59 -393,908.38

    5. Net increase/decrease in cash and cash equivalents -7,643,804.46 -5,516,035.51

    6. Beginning balance of cash and cash equivalents 55,099,297.35 92,076,908.44

    7. Ending balance of cash and cash equivalents 47,455,492.89 86,560,872.93