上工申贝（集团）股份有限公司 2012 年半年度报告
上工申贝（集团）股份有限公司
600843
900924
2012 年半年度报告
2012 年半年度报告 1页
上工申贝（集团）股份有限公司 2012 年半年度报告
2012 年半年度报告目录
一、 重要提示 ................................................................................................................................ 3
二、 公司基本情况 ........................................................................................................................ 3
三、 股本变动及股东情况 ............................................................................................................ 5
四、 董事、监事和高级管理人员情况 ........................................................................................ 7
五、 董事会报告 ............................................................................................................................ 7
六、 重要事项 .............................................................................................................................. 11
七、 财务会计报告（未经审计） .............................................................................................. 16
八、 备查文件目录 ...................................................................................................................... 16
附件一、财务报表…………………………………………………………………………………17
附件二、财务报表附注…………………………………………………………………………..41
2012 年半年度报告 2页
上工申贝（集团）股份有限公司 2012 年半年度报告
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) 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高莉莉女士声明：
保证本半年度报告中财务报告的真实、完整。
(五) 是否存在被控股股东及其关联方非经营性占用资金情况？
否
(六) 是否存在违反规定决策程序对外提供担保的情况？
否
二、 公司基本情况
(一) 公司信息
公司的法定中文名称 上工申贝（集团）股份有限公司
公司的法定中文名称缩写 上工申贝
公司的法定英文名称 SGSB GROUP CO.,LTD.
公司的法定英文名称缩写 SGSB
公司法定代表人 张敏
(二) 联系人和联系方式
董事会秘书 证券事务代表
姓名 张建国 周勇强
上海市浦东新区世纪大道 上海市浦东新区世纪大道
联系地址
1500 号东方大厦 12 楼 1500 号东方大厦 12 楼
电话 021-68407515 021-68407700*1223
传真 021-63302939 021-63302939
电子信箱 zhangjianguo@sgsbgroup.com zyq@sgsbgroup.com
(三) 基本情况简介
上海市浦东新区世纪大道 1500 号东方
注册地址
大厦 12 楼 A-D 室
注册地址的邮政编码 200122
上海市浦东新区世纪大道 1500 号东方
办公地址
大厦 12 楼
2012 年半年度报告 3页
上工申贝（集团）股份有限公司 2012 年半年度报告
办公地址的邮政编码 200122
公司国际互联网网址 http://www.sgsbgroup.com
电子信箱 sgsb@sgsbgroup.com
(四) 信息披露及备置地点
公司选定的信息披露报纸名称 《上海证券报》、香港《商报》
登载半年度报告的中国证监会指定网站的网址 http://www.sse.com.cn
公司半年度报告备置地点 公司办公室
(五) 公司股票简况
公司股票简况
股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称
A股 上海证券交易所 上工申贝 600843 上工股份、工缝股份
B股 上海证券交易所 上工 B 股 900924 工缝 B 股
(六) 公司其他基本情况
公司首次注册登记日期 1993 年 12 月 16 日
公司首次注册登记地点 上海市工商行政管理局
公司变更注册登记日期 2011 年 11 月 14 日
公司变更注册登记地点 上海市工商行政管理局
企业法人营业执照注册 310000400080303（市局）
最近一次变更
号
税务登记号码 国地税沪字 310115132210544
组织机构代码 13221054-4
公司聘请的会计师事务所名称 立信会计师事务所(特殊普通合伙）
公司聘请的会计师事务所办公地址 上海市南京东路 61 号 4 楼
公司聘请的法律顾问 上海市震旦律师事务所
公司聘请的法律顾问办公地址 上海市四川北路 1688 号 16 楼
(七) 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
本报告期末比上
本报告期末 上年度期末 年度期末增减
(%)
总资产 1,540,308,346.39 1,530,019,795.15 0.67
所有者权益（或股东权益） 701,360,440.32 698,160,052.65 0.46
归属于上市公司股东的每股净
1.5624 1.5553 0.46
资产（元／股）
本报告期比上年
报告期（1－6 月） 上年同期
同期增减(%)
营业利润 74,513,856.11 24,422,585.17 205.10
2012 年半年度报告 4页
上工申贝（集团）股份有限公司 2012 年半年度报告
利润总额 74,970,446.03 46,724,939.68 60.45
归属于上市公司股东的净利润 28,764,043.63 24,625,199.36 16.81
归属于上市公司股东的扣除非
27,660,118.14 2,281,582.27 1,112.32
经常性损益的净利润
基本每股收益(元) 0.0641 0.0549 16.76
扣除非经常性损益后的基本每
0.0616 0.0051 1,107.84
股收益(元)
稀释每股收益(元) 0.0641 0.0549 16.76
增加 0.02 个百分
加权平均净资产收益率(%) 4.0368 4.0156
点
经营活动产生的现金流量净额 30,630,307.53 -10,377,969.25 不适用
每股经营活动产生的现金流量
0.0682 -0.0231 不适用
净额（元）
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 说明
非流动资产处置损益 404,698.17
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
57,590.00
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
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
774,665.49
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
除上述各项之外的其他营业外收入
-5,698.25
和支出
所得税影响额 -72,048.11
少数股东权益影响额（税后） -55,281.81
合计 1,103,925.49
三、 股本变动及股东情况
(一) 股份变动情况表
报告期内，公司股份总数及股本结构未发生变化。
(二) 股东和实际控制人情况
1、 股东数量和持股情况
2012 年半年度报告 5页
上工申贝（集团）股份有限公司 2012 年半年度报告
单位：股
报告期末股东总数 46070（A 股：17112；B 股：28958）户
前十名股东持股情况
持有
质押
有限
持股 或冻
股东 报告期内 售条
股东名称 比例 持股总数 结的
性质 增减 件股
(%) 股份
份数
数量
量
上海市浦东新区国有资产监督
国家 23.48 105,395,358 0 无
管理委员会
中国长城资产管理公司 国家 1.23 5,530,514 0 未知
国有
上海国际信托有限公司 0.60 2,681,520 0 未知
法人
HSBC BROKING SECURITIES
境外
(ASIA) LIMITED CLIENTS 0.58 2,599,948 2,599,948 0 未知
法人
ACCOUNT
SHENYIN WANGUO 境外
0.53 2,368,228 295,000 0 未知
NOMINEES (H.K.) LTD. 法人
中国太平洋人寿保险股份有限
其他 0.48 2,159,500 -9,782,560 0 未知
公司－分红－个人分红
GUOTAI JUNAN
境外
SECURITIES(HONGKONG) 0.36 1,626,458 -54,208 0 未知
法人
LIMITED
UBS CUSTODY SERVICES 境外
0.33 1,485,000 0 未知
SINGAPORE PTE. LTD. 法人
上海三毛企业（集团）股份有限 国有
0.31 1,400,000 0 未知
公司 法人
VANGUARD TOTAL
境外
INTERNATIONAL STOCK 0.27 1,210,896 1,210,896 0 未知
法人
INDEX FUND
前十名无限售条件股东持股情况
持有无限售条
股东名称 股份种类
件股份的数量
上海市浦东新区国有资产监督管理委员会 105,395,358 人民币普通股
中国长城资产管理公司 5,530,514 人民币普通股
上海国际信托有限公司 2,681,520 人民币普通股
HSBC BROKING SECURITIES (ASIA) LIMITED
2,599,948 境内上市外资股
CLIENTS ACCOUNT
SHENYIN WANGUO NOMINEES (H.K.) LTD. 2,368,228 境内上市外资股
中国太平洋人寿保险股份有限公司－分红－个人分红 2,159,500 人民币普通股
GUOTAI JUNAN SECURITIES(HONGKONG)
1,626,458 境内上市外资股
LIMITED
2012 年半年度报告 6页
上工申贝（集团）股份有限公司 2012 年半年度报告
UBS CUSTODY SERVICES SINGAPORE PTE. LTD. 1,485,000 境内上市外资股
上海三毛企业（集团）股份有限公司 1,400,000 人民币普通股
VANGUARD TOTAL INTERNATIONAL STOCK
1,210,896 境内上市外资股
INDEX FUND
未知前十名流通股股东之间是否存
上述股东关联关系或一致行动的说明
在关联关系或一致行动人的情况
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
本报告期内公司无新聘或解聘公司董事、监事、高级管理人员的情况。
五、 董事会报告
(一) 报告期内整体经营情况的讨论与分析
报告期，在国内经济增速放缓、国际欧元区债务危机未见好转的宏观环境下，缝制行业
整体需求下滑，成本上升，竞争加剧。公司提前布局，克服困难，坚持技术领先战略，总体
经济运行平稳，主要经营指标不但未出现大幅度滑坡，反而得益于公司欧洲子公司盈利水平
快速提高，使得利润逆势大幅增长，明显好于上期。
报告期内，公司营业收入 77,692 万元，同比减少 10.40 %，同口径比较降幅 2.48%（扣除
欧元报表折算汇率变化因素，下同）；营业利润 7,451 万元，同比增幅 205.10% ；净利润为
4,998 万元，同比增长 26.24%。其中，欧洲子公司营业收入 42,322 万元，同口径增长 12.82%；
营业利润 7,645 万元，同比增长 78.91%；净利润 5,452 万元，同比增长 48.12%。
报告期内，公司生产的工业机为 16,816 台（套），同比下降 36.6％，销售的工业机为 15,398
台（套），同比下降 33％，其中公司境外企业生产和销售的工业机分别为 9,869 台（套）和
8,761 台（套），同比增加 4.4％和 12.3％；通过合作生产的蝴蝶牌家用缝纫机出口量为 222,533
台,同比下降 6.4 %。公司出口创汇（不含 DA 公司）3,571 万美元，与上年同期下降 19.6%。
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
应收票据 6,755,087.12 3,441,439.20 3,313,647.92 96.29 注1
应收账款 224,299,948.43 162,572,715.65 61,727,232.78 37.97 注2
递延所得税资产 19,204,399.11 33,313,721.14 -14,109,322.03 -42.35 注3
应交税费 19,401,372.08 12,195,356.72 7,206,015.36 59.09 注4
其他流动负债 240,814.58 459,826.03 -219,011.45 -47.63 注5
注 1：系收到的银行承兑汇票本期增加所致。
2012 年半年度报告 7页
上工申贝（集团）股份有限公司 2012 年半年度报告
注 2：主要系欧洲子公司本期末月销售收入比上年期末月销售收入同比增加所致
注 3：主要系欧洲子公司本期可抵扣经营亏损减少所致。
注 4：主要系本期盈利，增加应交企业所得税期末余额。
注 5：主要系本期转销原记录的利息及租金费用所致。
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
财务费用 6,131,703.99 17,069,871.79 -10,938,167.80 -64.08 注1
公允价值变动收益 -33,802.29 -477,030.63 443,228.34 92.91 注2
投资收益 12,271,123.38 1,262,429.18 11,008,694.20 872.02 注3
营业外收入 607,199.08 23,736,080.70 -23,128,881.62 -97.44 注4
营业外支出 150,609.16 1,433,726.19 -1,283,117.03 -89.50 注5
所得税 24,989,049.68 7,131,951.46 17,857,098.22 250.38 注6
少数股东损益 21,217,352.72 14,967,788.86 6,249,563.86 41.75 注7
其他综合收益 -28,675,516.02 25,494,848.14 -54,170,364.16 -212.48 注8
注 1：主要系同比减少利息支出及增加汇兑收益综合所致。
注 2：系同比增加交易性金融资产公允价值的变动收益所致。
注 3：主要系同比增加成本法确认的投资收益所致。
注 4：主要系同比减少固定资产处置收益所致。
注 5: 主要系同比减少固定资产处置损失所致。
注 6: 主要系欧洲子公司所得税费用同比增加所致。
注 7: 主要系非全资子公司盈利同比增加所致。
注 8：主要系可供出售金融资产公允价值变动及外币报表折算差额同比减少所致。
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
增减比例 原因分
项目 本报告期 上年同期 增减金额
（％) 析
经营活动产生的
30,630,307.53 -10,377,969.25 41,008,276.78 395.15 注1
现金流量净额
投资活动产生的
4,709,533.48 68,661,526.97 -63,951,993.49 -93.14 注2
现金流量净额
筹资活动产生的
-23,531,677.51 -130,474,479.55 106,942,802.04 81.96 注3
现金流量净额
汇率变动对现金
-5,272,140.58 8,667,542.54 -13,939,683.12 -160.83 注4
的影响额
注 1：主要系购买商品、接受劳务支付的现金和支付给职工以及为职工支付的现金同比减少
所致。
注 2：主要系处置固定资产收回的现金同比减少所致。
注 3：主要系同比期间代华源发展公司归还银行借款本金及同比增加银行短期借款净偿还金
额等综合影响所致。
2012 年半年度报告 8页
上工申贝（集团）股份有限公司 2012 年半年度报告
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
营业 营业收 营业成
利润 入比上 本比上
分行业或 营业利润率比上年同
营业收入 营业成本 率 年同期 年同期
分产品 期增减(%)
增减 增减
(%) (%) (%)
分行业
缝制设备
556,386,155.86 343,333,927.53 38.29 -1.13 -2.22 增加 0.69 个百分点
类
出口贸易 143,640,591.65 141,287,838.47 1.64 -34.24 -34.10 减少 0.21 个百分点
办公与影
52,500,588.03 45,662,178.06 13.03 -21.03 -24.39 增加 3.87 个百分点
像产品
其他 3,144,332.27 1,203,829.11 61.71 550.79 318.70 增加 21.22 个百分点
合计 755,671,667.81 531,487,773.17 29.67 -10.90 -15.12 增加 3.50 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 337,209,195.88 -16.11
境外 418,462,471.93 -6.20
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
参股公司贡献的 占上市公司净利
公司名称 经营范围 净利润
投资收益 润的比重(%)
上海富士施 复印机生产及
51,860,308.19 10,990,776.50 38.21
乐有限公司 销售
4、 主营业务盈利能力（毛利率）与上年相比发生重大变化的原因说明
报告期内，主营业务盈利能力（毛利率）与上年相比有较大幅度的上升，主要得益于欧
洲子公司坚持创新研发，不断提高产品的科技含量，在皮革制品类缝纫设备领域和部分服装
类缝制设备的高端产品保持领先地位，盈利水平上升；同时加大营销与整合，保持产销的稳
定增长，尤其是高毛利的高端产品销售占比同比大幅上升,使公司营业利润同比大幅增加。
5、 利润构成与上年度相比发生重大变化的原因分析
报告期利润的上升一方面来自于欧洲子公司缝纫设备主营业务发展良好的贡献，另一方
2012 年半年度报告 9页
上工申贝（集团）股份有限公司 2012 年半年度报告
面来源于参股公司富士施乐经营良好带来的投资收益。
6、 公司在经营中出现的问题与困难
一是由于国内外经济环境的不稳定性，下游行业对缝制设备的需求下降，出现国内主营
业务下降，公司的整体业务，未能摆脱依赖欧洲子公司支撑的局面；二是应收账款较预算有
一定上升，存在着现金流量风险；三是各类人才的匮乏，严重制约了企业的发展；四是销售
渠道与网络不够完善，营销能力亟待加强；五、国际国内宏观环境的不确定性以及汇率的波
动增加了公司经营的不稳定性。
(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） 董事会下半年的经营计划
1、利用国内外缝制设备市场正处于低谷之时，抓住危中之机，大胆创新，进一步优化
调整产品布局，继续保持 DA 品牌的技术领先地位，大力发展高端智能化缝制设备，以适应
人力成本日益增长的市场需求。
2、国内业务发展的重点工作是"蝴蝶"老品牌的复兴和市场推广，创新营销模式，扩大
产品品种。同时还要探索 DA 的老品牌在家用多功能机市场的延伸，从而打开欧美市场之门。
3、在缝纫设备行业整体持续不景气的形势下，寻求对其它相关业务的投资机会，走多
元化业务发展之路。抓住市场机遇，充分发挥资本市场的功能，不断拓展新业务，寻找新的
利润增长点，夯实企业实力，实现多元化发展战略目标。
4、加强人才队伍建设工作，结合企业实际，做好年轻干部和专业人才的引进和培养工
作。
（五） 报告期内现金分红政策的制定及执行情况
1、公司目前的现金分红政策内容
公司"章程"第一百五十五条规定，"公司利润分配政策：依据国家有关规定，对境内、
境外审计的结果，贯彻执行"孰低分配"的原则；可以采取现金或者股票方式支付股东股利；
向境内上市外资股股东支付股利时，以人民币计价，以外币支付。
公司可以进行中期现金分红。公司最近三年以现金方式累计分配的利润应不少于最近三
年实现的年均可分配利润的百分之三十。公司上一会计年度内盈利但未提出现金利润分配预
案时，应在年度报告中详细说明未分红的原因，未用于分红的资金留存公司的用途"。
2、报告期内现金分红政策的执行情况
鉴于目前母公司可供分配利润为负数，因此，报告期内，公司不进行现金分红。
3、为进一步完善公司利润分配尤其是现金分红政策，强化回报股东的意识，更好地维护广
大投资者的利益，根据中国证监会《关于进一步落实上市公司现金分红有关事项的通知》(证
2012 年半年度报告 10 页
上工申贝（集团）股份有限公司 2012 年半年度报告
监发[2012]37 号)和上海证监局《关于进一步做好上海辖区上市公司现金分红有关工作的通
知》（沪证监公司字[2012]145 号）的要求，公司拟在广泛征求广大股东和独立董事的意见和
建议基础上，对《公司章程》中有关利润分配政策尤其是现金分红条款进行修订和完善，并
拟制定专门的现金分红制度，进一步明确利润分配的基本顺序、基本原则、具体实施政策以
及发放现金股利的具体条件等，细化利润分配方案的审议程序。
六、 重要事项
(一) 公司治理的情况
报告期内，公司严格按照《公司法》、《证券法》、中国证监会《上市公司治理准则》及
相关法律法规的要求，结合公司实际情况，持续提升公司治理水平，不断完善法人治理结构，
规范公司运作。目前，公司治理实际状况符合相关法律、法规的要求，不存在监管部门要求
限期整改的问题。
1、股东大会、董事会和监事会情况
报告期内，公司共计召开了 1 次年度股东大会、3 次董事会、3 次监事会，董事会下审
计委员会和薪酬与考核委员会分别各召开 2 次会议。会议均严格按照《公司章程》、《股东大
会议事规则》、《董事议事规则》、《监事会议事规则》等有关法律、法规的要求，履行了相应
的召集、召开和表决程序。公司股东大会、董事会、监事会能够各尽其责、恪尽职守、规范
运作，切实维护了广大投资者和公司的利益。根据上海证券交易所《上市公司董事选任与行
为指引》，监事会按期对董事履职情况进行了考评。
2、投资者关系管理
报告期内，公司通过电话、现场接待、股东大会等多种方式保持与投资者的沟通，积极
听取投资者提出的合理建议及意见，并不断改进、拓展与投资者沟通互动的方式。
3、内部控制规范实施情况
为贯彻实施《企业内部控制基本规范》及配套指引（以下简称"内控规范"），按照证监
会统一部署和上海证监局《关于做好上海内部控制规范实施工作方案辖区上市公司实施内控
规范有关工作的通知》的要求，公司高度重视内控规范实施工作。报告期内，公司制定了《内
部控制规范实施工作方案》（以下简称"实施方案"），于 2012 年 3 月 19 日召开第六届第十七
次董事会审议通过。为确保公司内控规范实施工作顺利推进，公司成立了以董事长为首的内
控规范工作的领导小组和以总经理为首的工作小组。
为保证内控实施工作的专业化、系统化和合理化，公司聘请了万隆国际咨询集团有限公
司为公司内控建设的咨询机构，为建立全面有效、切合公司实际的内部控制管理体系打下基
础。目前，公司内控规范工作按计划节点，正逐步推进实施中。截止 2012 年 7 月 30 日，内
控工作已经完成了第一阶段工作，包括：对现有的公司发展战略、内部控制制度、部门职责、
重要业务流程进行梳理；深度访谈了企业各层级管理者，包含公司总部高层领导、中层管理
者、分子公司高层管理者、分子公司中层管理者、分子公司基层员工；对公司现有的制度层
面和流程层面的内部控制进行了穿行测试，检查实施效果，结合中高级管理层访谈记录与风
险测试结果，识别并形成关键风险缺陷清单，对已查找出的内部控制缺陷，进行汇总、整理，
编制内控调研报告和缺陷汇总表，并与内控工作小组进行沟通、确认，针对评估中发现的内
部控制缺陷，结合最佳实践和公司实际情况提出了具有可操作性的整改建议，并与公司主要
领导进行了重要问题的沟通与交流，同时向公司执行董事会做了整体汇报。目前，正在编制
内控手册，下一步将侧重于对查找的内控缺陷进行整改落实工作。
为了加强公司内幕信息的管理，防范内幕交易的发生，根据中国证监会、上海证监局和
上海证券交易所等监管部门的要求，公司对原《内幕信息知情人管理制度》进行修订完善，
2012 年半年度报告 11 页
上工申贝（集团）股份有限公司 2012 年半年度报告
进一步明确了公司内幕信息的管理、监督部门以及内幕信息和内幕信息知情人的范围，细化
了公司内幕信息的保密和登记管理流程，内幕信息知情人档案记录的保管年限等内容。为了
加强本部员工各层面的年度考核，特别是高管层的年度考核，修改了《本部员工绩效考核与
薪酬管理办法》，同时根据实际情况修改了《公司及公司直接管理的领导人员兼职管理办法》，
为规范公司运作、提升公司治理水平提供保障。
(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) 重大诉讼仲裁事项
本报告期公司无重大诉讼、仲裁事项。
(四) 破产重整相关事项
本报告期公司无破产重整相关事项。
(五) 公司持有其他上市公司股权、参股金融企业股权情况
1、 证券投资情况
占期末
最初投资成 期末账面 报告期损
持有数量 证券投
序 证券品 本 价值 益
证券代码 证券简称 资比例
号 种
（股）
（元） （元） （元）
（％）
1 股票 601558 华锐风电 1,080,000.00 48,000.00 336,480.00 45.05 -30,480.00
2 股票 601700 风范股份 140,000.00 4,000.00 60,200.00 8.06 -2,040.00
3 股票 300160 秀强股份 17,500.00 1,000.00 10,700.00 1.43 -1,375.00
4 股票 300165 天瑞仪器 65,000.00 2,080.00 30,472.00 4.08 -2,216.00
5 股票 300155 安居宝 49,000.00 2,500.00 29,025.00 3.89 -3,025.00
6 基金 160402 华安 A 股 100,000.00 413,534.52 279,962.87 37.49 14,473.71
报告期已出售证券投资损益 / / / / 403,610.70
合计 1,451,500.00 / 746,839.87 100 378,948.41
注：上述证券系公司认购新股中签所持有。
2、 持有其他上市公司股权情况
单位：元
证 占该公
会计
证券代 券 最初投资成 司股权 期末账面价 报告期损 报告期所有者 股份
核算
码 简 本 比例 值 益 权益变动 来源
科目
称 （％）
可 供
百 法 人
出 售
600637 视 67,600.00 <5% 395,717.08 -368,684.45 股 投
金 融
通 资
资产
2012 年半年度报告 12 页
上工申贝（集团）股份有限公司 2012 年半年度报告
上 可 供
法 人
海 出 售
600689 1,779,800.00 <5% 5,204,757.00 507,299.10 股 投
三 金 融
资
毛 资产
长 可 供
法 人
江 出 售
600757 72,085,722.82 <5% 67,764,353.72 -13,285,108.86 股 投
传 金 融
资
媒 资产
合计 73,933,122.82 / 72,969,110.72 395,717.08 -13,146,494.21 / /
注：长江传媒系受让银行在其破产重整中受偿的权益所致，其他股权系其上市时，公司投资法人股
并持有至今。
3、 持有非上市金融企业股权情况
占该公 报告期
所持
最初投资成 持有数 司股权 期末账面价 报告期损 所有者 会计核 股份
对象
本（元） 量（股） 比例 值（元） 益（元） 权益变 算科目 来源
名称
（%） 动（元）
上 海 长期股
951,400.00 805,044 <5 951,400.00 104,655.72 购入
银行 权投资
宝 鼎 长期股
7,500.00 5,751 <5 7,500.00 购入
投资 权投资
申 银 长期股
200,000.00 102,214 <5 200,000.00 购入
万国 权投资
合计 1,158,900.00 913,009 / 1,158,900.00 104,655.72 / /
注：上述金融企业股权系其发起设立时，由公司认购并持有至今。
(六) 报告期内公司收购及出售资产、吸收合并事项
本报告期公司无收购及出售资产、吸收合并事项。
(七) 重大关联交易
本报告期公司无重大关联交易事项。
(八) 重大合同及其履行情况
1、 为公司带来的利润达到公司本期利润总额 10％以上（含 10％）的托管、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
2012 年半年度报告 13 页
上工申贝（集团）股份有限公司 2012 年半年度报告
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（不包括对控股子公司的担保）
担保
担保
发生 担保
方与 是否 是否
日期 担保 担保 是否 担保 担保
担保 上市 被担 担保 担保 存在 为关 关联
(协 起始 到期 已经 是否 逾期
方 公司 保方 金额 类型 反担 联方 关系
议签 日 日 履行 逾期 金额
的关 保 担保
署 完毕
系
日)
上工 上海
申贝 浦东
2009 2009 2013
（集 发展 连带
公司 年 6 年 6 年 6
团） （集 11,560 责任 否 否 是 否
本部 月 9 月 9 月 9
股份 团） 担保
日 日 日
有限 有限
公司 公司
报告期末担保余额合计（A）（不包括对子公司的
11,560
担保）
公司对控股子公司的担保情况
报告期末对子公司担保余额合计（B） 3,352
公司担保总额情况（包括对控股子公司的担保）
担保总额（A+B） 14,912
担保总额占公司净资产的比例(%) 18.06
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：
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。
截至 2012 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、 委托理财及委托贷款情况
(1) 委托理财情况
本报告期公司无委托理财事项。
(2) 委托贷款情况
本报告期公司无委托贷款事项。
4、 其他重大合同
2012 年半年度报告 14 页
上工申贝（集团）股份有限公司 2012 年半年度报告
本报告期公司无其他重大合同。
(九) 承诺事项履行情况
1、 本报告期或持续到报告期内，上市公司、控投股东及实际控制人没有承诺事项。
(十) 聘任、解聘会计师事务所情况
是否改聘会计师事务所： 否
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
2012 年度会计报表审计机构。
(十一) 上市公司及其董事、监事、高级管理人员、公司股东、实际控制人处罚及整改情况
本报告期公司及其董事、监事、高级管理人员、公司股东、实际控制人均未受中国证监
会的稽查、行政处罚、通报批评及证券交易所的公开谴责。
(十二) 其他重大事项的说明
本报告期公司无其他重大事项。
(十三) 信息披露索引
刊载的互联网网站及检
事项 刊载的报刊名称及版面 刊载日期
索路径
临 2012-001 二〇一一年年 《上海证券报》B166 版 上海证券交易所网站
2012 年 1 月 20 日
度业绩预增公告 香港《商报》A9 版 http://www.sse.com.cn
临 2012-002 第六届董事会 《上海证券报》B23 版 上海证券交易所网站
2012 年 3 月 21 日
第十七次会议决议公告 香港《商报》A25 版 http://www.sse.com.cn
临 2012-003 第六届监事会 《上海证券报》B23 版 上海证券交易所网站
2012 年 3 月 21 日
第十四次会议决议公告 香港《商报》A25 版 http://www.sse.com.cn
《上海证券报》B23 版 上海证券交易所网站
2011 年年度报告摘要 2012 年 3 月 21 日
香港《商报》A25 版 http://www.sse.com.cn
《上海证券报》98 版 上海证券交易所网站
2012 年第一季度报告 2012 年 4 月 28 日
香港《商报》A4 版 http://www.sse.com.cn
临 2012-004 第六届董事会 《上海证券报》98 版 上海证券交易所网站
2012 年 4 月 28 日
第十八次会议决议公告 香港《商报》A4 版 http://www.sse.com.cn
临 2012-005 第六届董事会
第十九次会议决议暨召开 《上海证券报》B13 版 上海证券交易所网站
2012 年 6 月 8 日
2011 年年度股东大会的公 香港《商报》A13 版 http://www.sse.com.cn
告
2012-006 第六届监事会第 《上海证券报》B13 版 上海证券交易所网站
2012 年 6 月 8 日
十六次会议决议公告 香港《商报》A13 版 http://www.sse.com.cn
临 2012-007 2011 年度股东 《上海证券报》42 版 上海证券交易所网站
2012 年 6 月 30 日
大会决议公告 香港《商报》A25 版 http://www.sse.com.cn
七、 财务会计报告（未经审计）
2012 年半年度报告 15 页
上工申贝（集团）股份有限公司 2012 年半年度报告
公司 2012 年上半年度财务报告未经审计。
财务报表、财务报表附注见附件。
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。
董事长：张敏
上工申贝（集团）股份有限公司
2012 年 8 月 29 日
2012 年半年度报告 16 页
上工申贝（集团）股份有限公司 2012 年半年度报告
附件
财务报表
合并资产负债表
2012 年 6 月 30 日
编制单位:上工申贝（集团）股份有限公司
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 371,292,076.53 365,002,051.56
结算备付金
拆出资金
交易性金融资产 746,839.87 793,642.16
应收票据 6,755,087.12 3,441,439.20
应收账款 224,299,948.43 162,572,715.65
预付款项 21,510,650.72 18,238,948.43
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 638,783.61 638,783.61
其他应收款 27,352,120.26 24,242,288.01
买入返售金融资产
存货 281,734,630.09 296,437,748.14
一年内到期的非流动
资产
其他流动资产 1,919,690.46 1,916,529.78
流动资产合计 936,249,827.09 873,284,146.54
非流动资产：
发放委托贷款及垫款
可供出售金融资产 72,969,110.72 86,183,204.93
持有至到期投资
长期应收款
长期股权投资 65,450,228.09 66,433,004.71
投资性房地产 119,194,286.99 122,001,945.13
固定资产 239,535,111.16 256,002,018.67
在建工程 3,406,955.19 2,976,955.34
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 32,520,833.39 33,468,262.20
2012 年半年度报告 17 页
上工申贝（集团）股份有限公司 2012 年半年度报告
开发支出 28,844,649.05 32,574,276.49
商誉 22,932,945.60 23,782,260.00
长期待摊费用
递延所得税资产 19,204,399.11 33,313,721.14
其他非流动资产
非流动资产合计 604,058,519.30 656,735,648.61
资产总计 1,540,308,346.39 1,530,019,795.15
流动负债：
短期借款 120,355,942.15 139,323,575.41
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 3,927,503.15
应付账款 114,254,711.02 105,400,593.99
预收款项 21,974,495.01 18,419,282.13
卖出回购金融资产款
应付手续费及佣金
应付职工薪酬 22,047,732.23 26,731,361.07
应交税费 19,401,372.08 12,195,356.72
应付利息
应付股利 1,032,818.86 1,032,818.86
其他应付款 125,000,847.39 119,457,447.78
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
520,000.00 520,000.00
负债
其他流动负债 240,814.58 459,826.03
流动负债合计 428,756,236.47 423,540,261.99
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 5,174,166.08 4,393,420.14
专项应付款
预计负债 262,971,632.26 278,962,235.78
递延所得税负债 16,158,207.30 17,181,653.29
其他非流动负债
非流动负债合计 285,793,990.51 302,027,294.08
负债合计 714,550,226.98 725,567,556.07
所有者权益（或股东权
2012 年半年度报告 18 页
上工申贝（集团）股份有限公司 2012 年半年度报告
益）：
实收资本（或股本） 448,886,777.00 448,886,777.00
资本公积 411,104,123.66 425,610,919.31
减：库存股
专项储备
盈余公积 4,546,242.52 4,546,242.52
一般风险准备
未分配利润 -95,470,803.25 -124,234,846.88
外币报表折算差额 -67,705,899.61 -56,649,039.30
归属于母公司所有者
701,360,440.32 698,160,052.65
权益合计
少数股东权益 124,397,679.09 106,292,186.43
所有者权益合计 825,758,119.41 804,452,239.08
负债和所有者权益
1,540,308,346.39 1,530,019,795.15
总计
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：高莉莉
2012 年半年度报告 19 页
上工申贝（集团）股份有限公司 2012 年半年度报告
母公司资产负债表
2012 年 6 月 30 日
编制单位:上工申贝（集团）股份有限公司
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 73,763,352.03 95,682,363.26
交易性金融资产 364,082.87 370,729.16
应收票据 2,602,551.12 1,991,439.20
应收账款 22,047,281.74 16,524,446.34
预付款项 4,310,334.49 344,656.96
应收利息
应收股利 638,783.61 638,783.61
其他应收款 55,572,659.96 50,076,947.47
存货 24,020,176.35 25,379,305.02
一年内到期的非流动
资产
其他流动资产
流动资产合计 183,319,222.17 191,008,671.02
非流动资产：
可供出售金融资产 72,969,110.72 86,183,204.93
持有至到期投资
长期应收款
长期股权投资 391,869,382.51 391,869,382.51
投资性房地产 89,882,201.81 90,866,799.43
固定资产 49,550,588.83 52,789,186.17
在建工程 246,733.34
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 26,424,928.19 27,107,839.07
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 630,942,945.40 648,816,412.11
资产总计 814,262,167.57 839,825,083.13
流动负债：
短期借款 115,948,148.62 135,948,148.62
交易性金融负债
2012 年半年度报告 20 页
上工申贝（集团）股份有限公司 2012 年半年度报告
应付票据 3,927,503.15
应付账款 23,911,003.77 20,605,475.97
预收款项 5,123,424.96 3,314,665.53
应付职工薪酬 903,672.79 903,672.79
应交税费 591,231.76 984,907.49
应付利息
应付股利 1,032,818.86 1,032,818.86
其他应付款 86,232,853.24 89,091,718.21
一年内到期的非流动
520,000.00 520,000.00
负债
其他流动负债
流动负债合计 238,190,657.15 252,401,407.47
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 1,611,944.32 1,611,944.32
专项应付款
预计负债
递延所得税负债 1,197,067.41 1,197,067.41
其他非流动负债
非流动负债合计 4,298,996.60 4,298,996.60
负债合计 242,489,653.75 256,700,404.07
所有者权益（或股东权
益）：
实收资本（或股本） 448,886,777.00 448,886,777.00
资本公积 464,199,971.75 477,346,465.96
减：库存股
专项储备
盈余公积 4,546,242.52 4,546,242.52
一般风险准备
未分配利润 -345,860,477.45 -347,654,806.42
所有者权益（或股东权益）
571,772,513.82 583,124,679.06
合计
负债和所有者权益
814,262,167.57 839,825,083.13
（或股东权益）总计
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：高莉莉
2012 年半年度报告 21 页
上工申贝（集团）股份有限公司 2012 年半年度报告
合并利润表
2012 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 776,923,825.11 867,134,653.55
其中：营业收入 776,923,825.11 867,134,653.55
利息收入
已赚保费
手续费及佣金收入
二、营业总成本 714,647,290.09 843,497,466.93
其中：营业成本 539,093,035.03 635,358,917.85
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 2,531,448.71 2,131,125.21
销售费用 72,772,714.18 85,103,014.17
管理费用 82,595,250.52 91,388,532.38
财务费用 6,131,703.99 17,069,871.79
资产减值损失 11,523,137.66 12,446,005.53
加：公允价值变动收益（损失以
-33,802.29 -477,030.63
“－”号填列）
投资收益（损失以“－”号填
12,271,123.38 1,262,429.18
列）
其中：对联营企业和合营企
-982,776.62 -244,580.63
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） 74,513,856.11 24,422,585.17
加：营业外收入 607,199.08 23,736,080.70
减：营业外支出 150,609.16 1,433,726.19
其中：非流动资产处置损失 139,799.03 1,432,553.29
四、利润总额（亏损总额以“－”号
74,970,446.03 46,724,939.68
填列）
减：所得税费用 24,989,049.68 7,131,951.46
五、净利润（净亏损以“－”号填列） 49,981,396.35 39,592,988.22
归属于母公司所有者的净利润 28,764,043.63 24,625,199.36
少数股东损益 21,217,352.72 14,967,788.86
六、每股收益：
（一）基本每股收益 0.0641 0.0549
2012 年半年度报告 22 页
上工申贝（集团）股份有限公司 2012 年半年度报告
（二）稀释每股收益 0.0641 0.0549
七、其他综合收益 -28,675,516.02 25,494,848.14
八、综合收益总额 21,305,880.33 65,087,836.36
归属于母公司所有者的综合收益
3,200,387.67 48,210,881.59
总额
归属于少数股东的综合收益总额 18,105,492.66 16,876,954.77
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：高莉莉
2012 年半年度报告 23 页
上工申贝（集团）股份有限公司 2012 年半年度报告
母公司利润表
2012 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 72,562,944.94 79,891,754.61
减：营业成本 54,593,143.90 66,494,547.80
营业税金及附加 2,132,483.51 1,901,881.02
销售费用 2,091,519.35 2,448,683.71
管理费用 19,956,870.90 25,562,083.87
财务费用 4,245,321.07 6,915,324.57
资产减值损失 989,163.47 -3,254,735.91
加：公允价值变动收益（损失以
6,353.71 -111,864.03
“－”号填列）
投资收益（损失以“－”号
13,030,263.90 972,256.77
填列）
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） 1,591,060.35 -19,315,637.71
加：营业外收入 226,445.29 23,462,398.47
减：营业外支出 23,176.67 175,561.53
其中：非流动资产处置损失 15,794.67 175,492.53
三、利润总额（亏损总额以“－”号
1,794,328.97 3,971,199.23
填列）
减：所得税费用
四、净利润（净亏损以“－”号填列） 1,794,328.97 3,971,199.23
五、每股收益：
（一）基本每股收益 0.0040 0.0088
（二）稀释每股收益 0.0040 0.0088
六、其他综合收益 -13,146,494.21 -34,491,137.29
七、综合收益总额 -11,352,165.24 -30,519,938.06
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：高莉莉
2012 年半年度报告 24 页
上工申贝（集团）股份有限公司 2012 年半年度报告
合并现金流量表
2012 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
805,144,342.65 890,705,950.80
收到的现金
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 30,394,316.09 45,554,969.62
收到其他与经营活动
1,830,060.33 6,532,745.20
有关的现金
经营活动现金流入
837,368,719.07 942,793,665.62
小计
购买商品、接受劳务
567,590,781.36 681,964,646.59
支付的现金
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
2012 年半年度报告 25 页
上工申贝（集团）股份有限公司 2012 年半年度报告
支付保单红利的现金
支付给职工以及为职
174,154,730.91 201,758,824.22
工支付的现金
支付的各项税费 13,324,944.79 10,162,109.60
支付其他与经营活动
51,667,954.48 59,286,054.46
有关的现金
经营活动现金流出
806,738,411.54 953,171,634.87
小计
经营活动产生的
30,630,307.53 -10,377,969.25
现金流量净额
二、投资活动产生的现金
流量：
收回投资收到的现金 878,327.78 1,642,281.63
取得投资收益收到的
12,056,172.22 1,312,956.63
现金
处置固定资产、无形
资产和其他长期资产收回 715,935.20 92,245,083.55
的现金净额
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
13,650,435.20 95,200,321.81
小计
购建固定资产、无形
资产和其他长期资产支付 8,940,901.72 18,905,725.61
的现金
投资支付的现金 7,168,124.00
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
464,945.23
有关的现金
投资活动现金流出
8,940,901.72 26,538,794.84
小计
投资活动产生的
4,709,533.48 68,661,526.97
现金流量净额
三、筹资活动产生的现金
流量：
吸收投资收到的现金
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 87,752,910.31 166,600,000.00
2012 年半年度报告 26 页
上工申贝（集团）股份有限公司 2012 年半年度报告
发行债券收到的现金
收到其他与筹资活动
12,727.41 12,865,357.11
有关的现金
筹资活动现金流入
87,765,637.72 179,465,357.11
小计
偿还债务支付的现金 106,600,000.00 179,373,290.26
分配股利、利润或偿
4,697,315.23 12,313,764.40
付利息支付的现金
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
118,252,782.00
有关的现金
筹资活动现金流出
111,297,315.23 309,939,836.66
小计
筹资活动产生的
-23,531,677.51 -130,474,479.55
现金流量净额
四、汇率变动对现金及现
-5,272,140.58 8,667,542.54
金等价物的影响
五、现金及现金等价物净
6,536,022.92 -63,523,379.29
增加额
加：期初现金及现金
358,470,076.23 409,008,778.08
等价物余额
六、期末现金及现金等价
365,006,099.15 345,485,398.79
物余额
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：高莉莉
2012 年半年度报告 27 页
上工申贝（集团）股份有限公司 2012 年半年度报告
母公司现金流量表
2012 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
75,112,590.76 85,870,964.37
收到的现金
收到的税费返还 41,090.00
收到其他与经营活动
1,495,580.23 42,709,055.27
有关的现金
经营活动现金流入
76,649,260.99 128,580,019.64
小计
购买商品、接受劳务
46,082,610.40 62,650,308.92
支付的现金
支付给职工以及为职
18,935,476.26 26,164,526.75
工支付的现金
支付的各项税费 5,163,164.61 4,881,582.56
支付其他与经营活动
16,737,861.39 21,442,049.40
有关的现金
经营活动现金流出
86,919,112.66 115,138,467.63
小计
经营活动产生的
-10,269,851.67 13,441,552.01
现金流量净额
二、投资活动产生的现金
流量：
收回投资收到的现金 878,327.78 344,110.53
取得投资收益收到的
12,047,532.22 750,000.00
现金
处置固定资产、无形
资产和其他长期资产收回 314,314.20 92,080,761.47
的现金净额
处置子公司及其他营
1.00 186,106.09
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
13,240,175.20 93,360,978.09
小计
购建固定资产、无形
资产和其他长期资产支付 522,772.57 2,033,917.42
的现金
投资支付的现金 183,570.00
2012 年半年度报告 28 页
上工申贝（集团）股份有限公司 2012 年半年度报告
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
522,772.57 2,217,487.42
小计
投资活动产生的
12,717,402.63 91,143,490.67
现金流量净额
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 86,600,000.00 166,600,000.00
发行债券收到的现金
收到其他与筹资活动
12,865,095.00
有关的现金
筹资活动现金流入
86,600,000.00 179,465,095.00
小计
偿还债务支付的现金 106,600,000.00 176,600,000.00
分配股利、利润或偿
4,366,733.23 7,247,795.53
付利息支付的现金
支付其他与筹资活动
118,252,782.00
有关的现金
筹资活动现金流出
110,966,733.23 302,100,577.53
小计
筹资活动产生的
-24,366,733.23 -122,635,482.53
现金流量净额
四、汇率变动对现金及现
171.04 -218,402.95
金等价物的影响
五、现金及现金等价物净
-21,919,011.23 -18,268,842.80
增加额
加：期初现金及现金
95,682,363.26 142,618,456.50
等价物余额
六、期末现金及现金等价
73,763,352.03 124,349,613.70
物余额
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：高莉莉
2012 年半年度报告 29 页
上工申贝（集团）股份有限公司 2012 年半年度报告
合并所有者权益变动表
2012 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 一般 所有者权益合
实收资本（或 减：库 专项 少数股东权益
资本公积 盈余公积 风险 未分配利润 其他 计
股本） 存股 储备
准备
一、上年
年 末 余 448,886,777.00 425,610,919.31 4,546,242.52 -124,234,846.88 -56,649,039.30 106,292,186.43 804,452,239.08
额
加
：会计政
策变更
前
期 差 错
更正
其
他
二、本年
年 初 余 448,886,777.00 425,610,919.31 4,546,242.52 -124,234,846.88 -56,649,039.30 106,292,186.43 804,452,239.08
额
三、本期
增 减 变
-14,506,795.65 28,764,043.63 -11,056,860.31 18,105,492.66 21,305,880.33
动 金 额
（ 减 少
2012 年半年度报告 30 页
上工申贝（集团）股份有限公司 2012 年半年度报告
以“－”
号填列）
（一）净
28,764,043.63 21,217,352.72 49,981,396.35
利润
（二）其
他 综 合 -14,506,795.65 -11,056,860.31 -3,111,860.06 -28,675,516.02
收益
上 述
（一）和
-14,506,795.65 28,764,043.63 -11,056,860.31 18,105,492.66 21,305,880.33
（二）小
计
（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
2012 年半年度报告 31 页
上工申贝（集团）股份有限公司 2012 年半年度报告
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
2012 年半年度报告 32 页
上工申贝（集团）股份有限公司 2012 年半年度报告
公 积 弥
补亏损
4．其他
（六）专
项储备
1．本期
提取
2．本期
使用
（七）其
他
四、本期
期 末 余 448,886,777.00 411,104,123.66 4,546,242.52 -95,470,803.25 -67,705,899.61 124,397,679.09 825,758,119.41
额
2012 年半年度报告 33 页
上工申贝（集团）股份有限公司 2012 年半年度报告
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 一般 所有者权益合
实收资本（或 减：库 专项 少数股东权益
资本公积 盈余公积 风险 未分配利润 其他 计
股本） 存股 储备
准备
一、上年
年 末 余 448,886,777.00 418,356,508.92 4,546,242.52 -236,899,958.76 -33,960,652.36 96,216,291.46 697,145,208.78
额
加
：会计政
策变更
前
期 差 错
更正
其
他
二、本年
年 初 余 448,886,777.00 418,356,508.92 4,546,242.52 -236,899,958.76 -33,960,652.36 96,216,291.46 697,145,208.78
额
三、本期
增 减 变
动 金 额
4,217,672.88 24,625,199.36 19,368,009.35 16,876,954.78 65,087,836.37
（ 减 少
以“－”
号填列）
2012 年半年度报告 34 页
上工申贝（集团）股份有限公司 2012 年半年度报告
（一）净
24,625,199.36 14,967,788.86 39,592,988.22
利润
（二）其
他 综 合 4,217,672.88 19,368,009.35 1,909,165.92 25,494,848.15
收益
上 述
（一）和
4,217,672.88 24,625,199.36 19,368,009.35 16,876,954.78 65,087,836.37
（二）小
计
（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
2012 年半年度报告 35 页
上工申贝（集团）股份有限公司 2012 年半年度报告
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
2012 年半年度报告 36 页
上工申贝（集团）股份有限公司 2012 年半年度报告
4．其他
（六）专
项储备
1．本期
提取
2．本期
使用
（七）其
他
四、本期
期 末 余 448,886,777.00 422,574,181.80 4,546,242.52 -212,274,759.40 -14,592,643.01 113,093,246.24 762,233,045.15
额
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：高莉莉
2012 年半年度报告 37 页
上工申贝（集团）股份有限公司 2012 年半年度报告
母公司所有者权益变动表
2012 年 1—6 月
单位:元 币种:人民币
本期金额
一般
项目 实收资本（或 减：库 专项 所有者权益合
资本公积 盈余公积 风险 未分配利润
股本） 存股 储备 计
准备
一、上年年
448,886,777.00 477,346,465.96 4,546,242.52 -347,654,806.42 583,124,679.06
末余额
加：会
计政策变更
前
期差错更正
其
他
二、本年年
448,886,777.00 477,346,465.96 4,546,242.52 -347,654,806.42 583,124,679.06
初余额
三、本期增
减变动金额
（ 减 少 以 -13,146,494.21 1,794,328.97 -11,352,165.24
“－”号填
列）
（一）净利
1,794,328.97 1,794,328.97
润
（二）其他
-13,146,494.21 -13,146,494.21
综合收益
上述（一）
和（二）小 -13,146,494.21 1,794,328.97 -11,352,165.24
计
（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）
的分配
4．其他
（五）所有
者权益内部
2012 年半年度报告 38 页
上工申贝（集团）股份有限公司 2012 年半年度报告
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
（六）专项
储备
1．本期提取
2．本期使用
（七）其他
四、本期期
448,886,777.00 464,199,971.75 4,546,242.52 -345,860,477.45 571,772,513.82
末余额
单位:元 币种:人民币
上年同期金额
一般
项目 实收资本（或 减：库 专项 所有者权益合
资本公积 盈余公积 风险 未分配利润
股本） 存股 储备 计
准备
一、上年年
448,886,777.00 506,072,877.19 4,546,242.52 -379,313,917.98 580,191,978.73
末余额
加：会
计政策变更
前
期差错更正
其
他
二、本年年
448,886,777.00 506,072,877.19 4,546,242.52 -379,313,917.98 580,191,978.73
初余额
三、本期增
减变动金额
（ 减 少 以 -34,491,137.29 3,971,199.23 -30,519,938.06
“－”号填
列）
（一）净利
3,971,199.23 3,971,199.23
润
（二）其他
-34,491,137.29 -34,491,137.29
综合收益
上述（一）
和（二）小 -34,491,137.29 3,971,199.23 -30,519,938.06
计
（三）所有
者投入和减
少资本
1．所有者投
2012 年半年度报告 39 页
上工申贝（集团）股份有限公司 2012 年半年度报告
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
（六）专项
储备
1．本期提取
2．本期使用
（七）其他
四、本期期
448,886,777.00 471,581,739.90 4,546,242.52 -375,342,718.75 549,672,040.67
末余额
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：高莉莉
2012 年半年度报告 40 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
上工申贝（集团）股份有限公司
二 O 一二半年度财务报表附注
一、 公司基本情况
上工申贝（集团）股份有限公司（以下简称“公司”或“本公司”）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，注册地址为上海市浦东新区世纪大道 1500 号东
方大厦 12 楼 A-D 室，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 2012 年 6 月 30 日，股本总数为 448,886,777 股，其中：无限售条
件股份为 448,886,777 股，占股份总数的 100%。
二、 主要会计政策、会计估计和前期差错
(一) 财务报表的编制基础
公司以持续经营为基础，根据实际发生的交易和事项，按照财政部于 2006 年 2 月 15 日颁
布的《企业会计准则——基本准则》和 38 项具体会计准则、其后颁布的企业会计准则应
用指南、企业会计准则解释及其他相关规定(以下合称“企业会计准则”)、以及中国证券监
督管理委员会《公开发行证券的公司信息披露编报规则第 15 号——财务报告的一般规定》
(2010 年修订)的披露规定编制财务报表。
(二) 遵循企业会计准则的声明
公司所编制的财务报表符合企业会计准则的要求，真实、完整地反映了报告期公司的财务
状况、经营成果、现金流量等有关信息。
财务报表附注 41 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(三) 会计期间
自公历 1 月 1 日至 12 月 31 日止为一个会计年度。
(四) 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。
(五) 同一控制下和非同一控制下企业合并的会计处理方法
1、 同一控制下企业合并
本公司在企业合并中取得的资产和负债，按照合并日在被合并方的账面价值计量。
在合并中取得的净资产账面价值与支付的合并对价账面价值（或发行股份面值总额）
的差额，调整资本公积，资本公积不足冲减的，调整留存收益。
本公司为进行企业合并而发生的各项直接相关费用，包括为进行企业合并而支付的
审计费用、评估费用、法律服务费等，于发生时计入当期损益。
企业合并中发行权益性证券发生的手续费、佣金等，抵减权益性证券溢价收入，溢
价收入不足冲减的，冲减留存收益。
被合并各方采用的会计政策与本公司不一致的，本公司在合并日按照本公司会计政
策进行调整，在此基础上按照企业会计准则规定确认。
2、 非同一控制下的企业合并
本公司在购买日对作为企业合并对价付出的资产、发生或承担的负债按照公允价值
计量。公允价值与其账面价值的差额，计入当期损益。
本公司在购买日对合并成本进行分配。
本公司对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差
额，计入当期损益。
企业合并中取得的被购买方除无形资产外的其他各项资产（不仅限于被购买方原已
确认的资产），其所带来的经济利益很可能流入本公司且公允价值能够可靠计量的，
单独确认并按公允价值计量；公允价值能够可靠计量的无形资产，单独确认为无形
资产并按公允价值计量；取得的被购买方除或有负债以外的其他各项负债，履行有
关义务很可能导致经济利益流出本公司且公允价值能够可靠计量的，单独确认并按
照公允价值计量；取得的被购买方或有负债，其公允价值能可靠计量的，单独确认
为负债并按照公允价值计量。
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(六) 合并财务报表的编制方法
本公司合并财务报表的合并范围以控制为基础确定，所有子公司均纳入合并财务报表。
所有纳入合并财务报表合并范围的子公司所采用的会计政策、会计期间与本公司一致，如
子公司采用的会计政策、会计期间与本公司不一致的，在编制合并财务报表时，按本公司
的会计政策、会计期间进行必要的调整。
合并财务报表以本公司及子公司的财务报表为基础，根据其他有关资料，按照权益法调整
对子公司的长期股权投资后，由本公司编制。
合并财务报表时抵销本公司与各子公司、各子公司相互之间发生的内部交易对合并资产负
债表、合并利润表、合并现金流量表、合并所有者权益变动表的影响。
子公司少数股东分担的当期亏损超过了少数股东在该子公司期初所有者权益中所享有份
额而形成的余额，若公司章程或协议未规定少数股东有义务承担的，该余额冲减本公司的
所有者权益；若公司章程或协议规定由少数股东承担的，该余额冲减少数股东权益。
在报告期内，若因同一控制下企业合并增加子公司的，则调整合并资产负债表的期初数；
将子公司合并当期期初至报告期末的收入、费用、利润纳入合并利润表；将子公司合并当
期期初至报告期末的现金流量纳入合并现金流量表。
在报告期内，若因非同一控制下企业合并增加子公司的，则不调整合并资产负债表期初数；
将子公司自购买日至报告期末的收入、费用、利润纳入合并利润表；该子公司自购买日至
报告期末的现金流量纳入合并现金流量表。
在报告期内，本公司处置子公司，则该子公司期初至处置日的收入、费用、利润纳入合并
利润表；该子公司期初至处置日的现金流量纳入合并现金流量表。
(七) 现金及现金等价物的确定标准
在编制现金流量表时，将本公司库存现金以及可以随时用于支付的存款确认为现金。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。
(八) 外币业务和外币报表折算
1、 外币业务
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。
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2、 外币财务报表的折算
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。
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。
(九) 金融工具
金融工具包括金融资产、金融负债和权益工具。
1、 金融工具的分类
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、 金融工具的确认依据和计量方法
（1）以公允价值计量且其变动计入当期损益的金融资产（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）持有至到期投资
取得时按公允价值（扣除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。
持有期间按照摊余成本和实际利率（如实际利率与票面利率差别较小的，按票面利
率）计算确认利息收入，计入投资收益。实际利率在取得时确定，在该预期存续期
间或适用的更短期间内保持不变。
处置时，将所取得价款与该投资账面价值之间的差额计入投资收益。
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（3）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。
（4）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）。
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。
（5）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：
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（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、 金融负债终止确认条件
金融负债的现时义务全部或部分已经解除的，则终止确认该金融负债或其一部分；
本公司若与债权人签定协议，以承担新金融负债方式替换现存金融负债，且新金融
负债与现存金融负债的合同条款实质上不同的，则终止确认现存金融负债，并同时
确认新金融负债。
对现存金融负债全部或部分合同条款作出实质性修改的，则终止确认现存金融负债
或其一部分，同时将修改条款后的金融负债确认为一项新金融负债。
金融负债全部或部分终止确认时，终止确认的金融负债账面价值与支付对价（包括
转出的非现金资产或承担的新金融负债）之间的差额，计入当期损益。
本公司若回购部分金融负债的，在回购日按照继续确认部分与终止确认部分的相对
公允价值，将该金融负债整体的账面价值进行分配。分配给终止确认部分的账面价
值与支付的对价（包括转出的非现金资产或承担的新金融负债）之间的差额，计入
当期损益。
5、 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期末活跃市场中的报
价。
6、 金融资产（不含应收款项）减值准备计提
（1）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。
（2）持有至到期投资的减值准备：
持有至到期投资减值损失的计量比照应收款项减值损失计量方法处理。
(十) 应收款项
1、 单项金额重大的应收款项坏账准备的计提
（1）单项金额重大的应收款项坏账准备的确认标准：
单项金额重大的具体标准为：应收款项余额前五名。
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（2）单项金额重大的应收款项坏账准备的计提方法：
单独进行减值测试，按预计未来现金流量现值低于其账面价值的差额计提坏账准备，
计入当期损益。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。
2、 按组合计提坏账准备应收款项
确定组合的依据
除单项计提减值准备的应收账款、其他应收款外的应收款
组合
项余额
按组合计提坏账准备的计提方法
组合 账龄分析法
组合中，采用账龄分析法计提坏账准备的：
账 龄 应收账款计提比例(%) 其他应收款计提比例(%)
1 年以内（含 1 年） 5 5
1－2 年 20 20
2－3 年 50 50
3 年以上 100 100
3、 单项金额虽不重大但单项计提坏账准备的应收款项
单项计提坏账准备的理由：属于特定对象的应收款项。
坏账准备的计提方法：单独进行减值测试，如有客观证据表明其已发生减值，按预
计未来现金流量现值低于其账面价值的差额计提坏账准备，计入当期损益。
(十一) 存货
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
存货发出时按加权平均法计价。
3、 存货可变现净值的确定依据及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。
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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。
4、 存货的盘存制度
采用永续盘存制。
5、 低值易耗品和包装物的摊销方法
（1）低值易耗品采用一次转销法；
（2）包装物采用一次转销法。
(十二) 长期股权投资
1、 初始投资成本确定
（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。
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（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、 后续计量及损益确认
（1）后续计量
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。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。
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）。
（2）损益确认
成本法下，除取得投资时实际支付的价款或对价中包含的已宣告但尚未发放的现金
股利或利润外，公司按照享有被投资单位宣告发放的现金股利或利润确认投资收益。
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。
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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。
3、 确定对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。
4、 减值测试方法及减值准备计提方法
重大影响以下的、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。
除因企业合并形成的商誉以外的存在减值迹象的其他长期股权投资，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。
因企业合并形成的商誉，无论是否存在减值迹象，每年都进行减值测试。
长期股权投资减值损失一经确认，不再转回。
(十三) 投资性房地产
投资性房地产是指为赚取租金或资本增值，或两者兼有而持有的房地产，包括已出租的土
地使用权、持有并准备增值后转让的土地使用权、已出租的建筑物。
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。
公司对存在减值迹象的，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。
投资性房地产减值损失一经确认，不再转回。
(十四) 固定资产
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：
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（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、 各类固定资产的折旧方法
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。
各类固定资产折旧年限和年折旧率如下：
类 别 折旧年限（年） 残值率（%） 年折旧率（%）
房屋及建筑物 20-50 10 1.8-4.5
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
3、 固定资产的减值测试方法、减值准备计提方法
公司在每期末判断固定资产是否存在可能发生减值的迹象。
固定资产存在减值迹象的，估计其可收回金额。可收回金额根据固定资产的公允价
值减去处置费用后的净额与固定资产预计未来现金流量的现值两者之间较高者确
定。
当固定资产的可收回金额低于其账面价值的，将固定资产的账面价值减记至可收回
金额，减记的金额确认为固定资产减值损失，计入当期损益，同时计提相应的固定
资产减值准备。
固定资产减值损失确认后，减值固定资产的折旧在未来期间作相应调整，以使该固
定资产在剩余使用寿命内，系统地分摊调整后的固定资产账面价值（扣除预计净残
值）。
固定资产的减值损失一经确认，在以后会计期间不再转回。
有迹象表明一项固定资产可能发生减值的，企业以单项固定资产为基础估计其可收
回金额。企业难以对单项固定资产的可收回金额进行估计的，以该固定资产所属的
资产组为基础确定资产组的可收回金额。
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(十五) 在建工程
1、 在建工程的类别
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。
3、 在建工程的减值测试方法、减值准备计提方法
公司在每期末判断在建工程是否存在可能发生减值的迹象。
在建工程存在减值迹象的，估计其可收回金额。可收回金额根据在建工程的公允价
值减去处置费用后的净额与在建工程预计未来现金流量的现值两者之间较高者确
定。
当在建工程的可收回金额低于其账面价值的，将在建工程的账面价值减记至可收回
金额，减记的金额确认为在建工程减值损失，计入当期损益，同时计提相应的在建
工程减值准备。
在建工程的减值损失一经确认，在以后会计期间不再转回。
有迹象表明一项在建工程可能发生减值的，企业以单项在建工程为基础估计其可收
回金额。企业难以对单项在建工程的可收回金额进行估计的，以该在建工程所属的
资产组为基础确定资产组的可收回金额。
(十六) 借款费用
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：
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（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。
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。
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。
购建或者生产的资产的各部分分别完工，但必须等到整体完工后才可使用或可对外
销售的，在该资产整体完工时停止借款费用资本化。
3、 暂停资本化期间
符合资本化条件的资产在购建或生产过程中发生的非正常中断、且中断时间连续超
过 3 个月的，则借款费用暂停资本化；该项中断如是所购建或生产的符合资本化条
件的资产达到预定可使用状态或者可销售状态必要的程序，则借款费用继续资本化。
在中断期间发生的借款费用确认为当期损益，直至资产的购建或者生产活动重新开
始后借款费用继续资本化。
4、 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。
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(十七) 无形资产
1、 无形资产的计价方法
（1）公司取得无形资产时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）后续计量
在取得无形资产时分析判断其使用寿命。
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。
2、 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
每期末，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。
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3、 无形资产减值准备的计提
对于使用寿命确定的无形资产，如有明显减值迹象的，期末进行减值测试。
对于使用寿命不确定的无形资产，每期末进行减值测试。
对无形资产进行减值测试，估计其可收回金额。可收回金额根据无形资产的公允价
值减去处置费用后的净额与无形资产预计未来现金流量的现值两者之间较高者确
定。
当无形资产的可收回金额低于其账面价值的，将无形资产的账面价值减记至可收回
金额，减记的金额确认为无形资产减值损失，计入当期损益，同时计提相应的无形
资产减值准备。
无形资产减值损失确认后，减值无形资产的折耗或者摊销费用在未来期间作相应调
整，以使该无形资产在剩余使用寿命内，系统地分摊调整后的无形资产账面价值（扣
除预计净残值）。
无形资产的减值损失一经确认，在以后会计期间不再转回。
有迹象表明一项无形资产可能发生减值的，公司以单项无形资产为基础估计其可收
回金额。公司难以对单项资产的可收回金额进行估计的，以该无形资产所属的资产
组为基础确定无形资产组的可收回金额。
4、 划分公司内部研究开发项目的研究阶段和开发阶段具体标准
研究阶段：为获取并理解新的科学或技术知识等而进行的独创性的有计划调查、研
究活动的阶段。
开发阶段：在进行商业性生产或使用前，将研究成果或其他知识应用于某项计划或
设计，以生产出新的或具有实质性改进的材料、装置、产品等活动的阶段。
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。
5、 开发阶段支出符合资本化的具体标准
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。
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(十八) 职工薪酬
1、 职工薪酬的分类
本公司的应付职工薪酬包括工资、奖金、津贴和补贴；职工福利费；医疗保险费、
养老保险费、失业保险费、工伤保险费和生育保险费等社会保险费；住房公积金；
工会经费和职工教育经费；非货币性福利；因解除与职工劳动关系给予的补偿（辞
退福利）等。
2、 职工薪酬的确认和计量
本公司在职工提供服务的各个会计期间，将职工薪酬确认为负债，除了因解除与职
工劳动关系给予的补偿外，按照职工服务的收益对象，分别下列情况处理：
（1）应由生产产品、提供劳务负担的职工薪酬，计入产品成本或劳务成本；
（2）应由在建工程、无形资产负担的职工薪酬，计入建造固定资产或无形资产成本；
（3）除了上述之外的薪酬，直接计入当期损益。
国家对于部分应付职工薪酬项目规定了计提比例的，本公司按照规定的比例计量；
国家没有规定比例的，本公司管理层根据历史经验和现实情况进行预计，实际发生
额大于或小于预计水平的，需要补提或冲回职工薪酬。
本公司以自产产品发给职工、将自有房屋无偿提供给职工使用、租赁住房等资产给
职工无偿使用的，则分别按照产品的公允价值、房屋的每期折旧以及房屋的每期租
金，根据收益对象计入相应自产成本或当期损益；无法区分收益对象的，直接计入
当期损益。
3、 辞退福利
本公司在职工劳动合同到期前解除劳动关系、或者为鼓励职工自愿解除合同而提出
的补偿，则根据本公司的不能单方撤回的、正式的书面计划或建议（包括职工所在
部门、数量、补偿标准、实施时间等），确认应付职工薪酬，计入当期损益。
对于自愿接受裁减的建议，本公司需要预计能够接受裁减的职工数量，根据数量和
每个职位的补偿标准，按照《企业会计准则 13 号---或有事项》的判断条件，计提
应付职工薪酬。
(十九) 债务重组
本公司的报告期与债权人实施的债务重组分别下列情况处理：
1、 以现金清偿债务的，本公司将重组债务的账面价值与实际应支付现金之间的差额，
计入当期损益。
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2、 以非现金资产清偿债务的，本公司将重组债务的账面价值与转让的非现金资产公允
价值之间的差额，计入当期损益。 转让的非现金资产公允价值与其账面价值之间的
差额，计入当期损益。
3、 将债务转为资本的，本公司将债权人放弃债权而享有股份的面值总额确认为股本（或
者实收资本），股份的公允价值总额与股本（或者实收资本）之间的差额确认为资本
公积。 重组债务的账面价值与股份的公允价值总额之间的差额，计入当期损益。
4、 修改其他债务条件的，本公司将修改其他债务条件后债务的公允价值作为重组后债
务的入账价值。重组债务的账面价值与重组后债务的入账价值之间的差额，计入当
期损益。
5、 修改后的债务条款如涉及或有应付金额，且该或有应付金额符合《企业会计准则第
13 号—或有事项》中有关预计负债确认条件的，本公司将该或有应付金额确认为预
计负债。重组债务的账面价值，与重组后债务的入账价值和预计负债金额之和的差
额，计入当期损益。 或有应付金额，是指需要根据未来某种事项出现而发生的应
付金额，而且该未来事项的出现具有不确定性。
6、 债务重组以现金清偿债务、非现金资产清偿债务、债务转为资本、修改其他债务条
件等方式的组合进行的，本公司依次以支付的现金、转让的非现金资产公允价值、
债权人享有股份的公允价值冲减重组债务的账面价值，再按照上述修改其他债务条
件的方式处理。
(二十) 预计负债
本公司涉及诉讼、债务担保、亏损合同、重组事项时，如该等事项很可能需要未来以交付
资产或提供劳务、其金额能够可靠计量的，确认为预计负债。
1、 预计负债的确认标准
与或有事项相关的义务同时满足下列条件时，本公司确认为预计负债：
该义务是本公司承担的现时义务；
履行该义务很可能导致经济利益流出本公司；
该义务的金额能够可靠地计量。
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2、 预计负债的计量方法
本公司预计负债按履行相关现时义务所需的支出的最佳估计数进行初始计量。
本公司在确定最佳估计数时，综合考虑与或有事项有关的风险、不确定性和货币时
间价值等因素。对于货币时间价值影响重大的，通过对相关未来现金流出进行折现
后确定最佳估计数。
最佳估计数分别以下情况处理：
所需支出存在一个连续范围（或区间），且该范围内各种结果发生的可能性相同的，
则最佳估计数按照该范围的中间值即上下限金额的平均数确定。
所需支出不存在一个连续范围（或区间），或虽然存在一个连续范围但该范围内各种
结果发生的可能性不相同的，如或有事项涉及单个项目的，则最佳估计数按照最可
能发生金额确定；如或有事项涉及多个项目的，则最佳估计数按各种可能结果及相
关概率计算确定。
(二十一) 收入
1、 销售商品收入确认时间的具体判断标准
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、 确认让渡资产使用权收入的依据
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。分别下列
情况确定让渡资产使用权收入金额：
（1）利息收入金额，按照他人使用本企业货币资金的时间和实际利率计算确定。
（2）使用费收入金额，按照有关合同或协议约定的收费时间和方法计算确定。
3、 按完工百分比法确认提供劳务的收入时，确定合同完工进度的依据和方法
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，依据已经发生的成本占估计总成本的比例确
定。
按照已收或应收的合同或协议价款确定提供劳务收入总额，但已收或应收的合同或
协议价款不公允的除外。资产负债表日按照提供劳务收入总额乘以完工进度扣除以
前会计期间累计已确认提供劳务收入后的金额，确认当期提供劳务收入；同时，按
照提供劳务估计总成本乘以完工进度扣除以前会计期间累计已确认劳务成本后的金
额，结转当期劳务成本。
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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。
(二十二) 政府补助
1、 类型
政府补助，是本公司从政府无偿取得的货币性资产与非货币性资产。分为与资产相
关的政府补助和与收益相关的政府补助。
2、 会计处理方法
与购建固定资产、无形资产等长期资产相关的政府补助，确认为递延收益，按照所
建造或购买的资产使用年限分期计入营业外收入；
与收益相关的政府补助，用于补偿企业以后期间的相关费用或损失的，取得时确认
为递延收益，在确认相关费用的期间计入当期营业外收入；用于补偿企业已发生的
相关费用或损失的，取得时直接计入当期营业外收入。
(二十三) 递延所得税资产和递延所得税负债
1、 确认递延所得税资产的依据
公司以很可能取得用来抵扣可抵扣暂时性差异的应纳税所得额为限，确认由可抵扣
暂时性差异产生的递延所得税资产。
2、 确认递延所得税负债的依据
公司将当期与以前期间应交未交的应纳税暂时性差异确认为递延所得税负债。但不
包括商誉、非企业合并形成的交易且该交易发生时既不影响会计利润也不影响应纳
税所得额或可抵扣亏损所形成的暂时性差异。
(二十四) 关联方
一方控制、共同控制另一方或对另一方施加重大影响，以及两方或两方以上同受一
方控制、共同控制的，构成关联方。关联方可为个人或企业。仅仅同受国家控制而
不存在其他关联方关系的企业，不构成本公司的关联方。
本公司的关联方包括但不限于：
（1）本公司的母公司；
（2）本公司的子公司；
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（3）与本公司受同一母公司控制的其他企业；
（4）对本公司实施共同控制的投资方；
（5）对本公司施加重大影响的投资方；
（6）本公司的合营企业，包括合营企业的子公司；
（7）本公司的联营企业，包括联营企业的子公司；
（8）本公司的主要投资者个人及与其关系密切的家庭成员 ；
（9）本公司或其母公司的关键管理人员及与其关系密切的家庭成员；
（10）本公司的主要投资者个人、关键管理人员或与其关系密切的家庭成员控
制、共同控制的其他企业。
(二十五) 主要会计政策、会计估计的变更
1、 会计政策变更
本报告期主要会计政策未变更。
2、 会计估计变更
本报告期主要会计估计未变更。
(二十六) 前期会计差错更正
1、 追溯重述法
本报告期未发现采用追溯重述法的前期会计差错。
2、 未来适用法
本报告期未发现采用未来适用法的前期会计差错。
三、 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
注：境外子公司按各国税法规定执行法定税率。
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四、 企业合并及合并财务报表
本节下列表式数据中的金额单位，除非特别注明外均为人民币万元。
(一) 子公司情况
1、 通过设立或投资等方式取得的子公司
从母公司所有者权益冲减子
实质上构成 少数股东权益
公司少数股东分担的本期亏
期末实际投 对子公司净 持股比例 表决权比 是否合并 少数股东 中用于冲减少
子公司全称 子公司类型 注册地 业务性质 注册资本 经营范围 损超过少数股东在该子公司
资额 投资的其他 (%) 例(%) 报表 权益 数股东损益的
期初所有者权益中所享有份
项目余额 金额
额后的余额
杜克普爱华贸易(上海）有限公 缝制设备进出口 缝纫机械设备等批发、佣金
控股子公司 上海 USD400 USD160 USD136 40 74 是 864.60 189.19
司 等 代理和进出口
上海双重包缝机有限公司 控股子公司 上海 缝制设备等 1,200 生产开发销售包缝机 840 240 70 90 是 21.50
上海上工蝴蝶缝纫机有限公司 全资子公司 上海 缝制设备等 7,900 生产销售缝纫设备及配件 7,900 100 100 是 592.94 38.93
上海索营置业有限公司 控股子公司 上海 房地产开发等 1,300 房地产开发等 897 69 69 是 496.46 0.72
上工(欧洲)控股有限责任公司 全资子公司 德国 缝制设备等 EUR2,250 缝制设备等 EUR2,250 100 100 是 10,485.77 1,892.89
缝制设备及零部件销售劳
上海工业缝纫机物产总公司 全资子公司 上海 缝制设备等 465 465 100 100 否
务服务
上海上工申贝资产管理有限公 资产管理、投资管理、企业
全资子公司 上海 资产管理等 500 500 100 100 是
司 管理等
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2、 通过同一控制下企业合并取得的子公司
子公司全称 子公司类 注册地 业务性质 注册资本 经营范围 期末实际 实质上构成对 持股 表决权比 是否合 少数股 少数股东权 从母公司所有者权益冲减
型 投资额 子公司净投资 比例 例(%) 并报表 东权益 益中用于冲 子公司少数股东分担的本
的其他项目余 (%) 减少数股东 期亏损超过少数股东在该
额 损益的金额 子公司期初所有者权益中
所享有份额后的余额
上海申贝外高桥办 全资子公司 上海 物业管理 862 保税区内仓储等 862 100 100 是
公设备有限公司
上海申贝办公机械 全资子公司 上海 办公机械进出口 1,200 自营和代理各类商品 1,200 100 100 是
进出口有限公司 等 及技术的进出口业务
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(二) 合并范围发生变更的说明
1、 与上年相比本期无新增合并单位。
2、 本期减少合并单位 1 家，原因为：公司本期将子公司杜克普爱华工业制造（上海）
有限公司股权转让给子公司杜克普爱华贸易（上海）有限公司，纳入三级子公司核
算。
(三) 本期新纳入合并范围的主体和本期不再纳入合并范围的主体
1、 本期新纳入合并范围的子公司、特殊目的主体、通过受托经营或承租等方式形成控
制权的经营实体：无
2、 本期不再纳入合并范围的子公司、特殊目的主体、通过受托经营或承租等方式形成
控制权的经营实体：无
(四) 境外经营实体主要报表项目的折算汇率
子公司上工(欧洲)控股有限责任公司以欧元为记账本位币，主要财务报表项目的折算汇率
以及外币报表折算差额的处理方法如下：资产负债表中的资产和负债项目，期末余额折算
汇率 7.871，年初余额折算汇率 8.1625；利润表中的收入和费用项目，本期金额折算汇率
7.871，上期金额折算汇率 9.3612；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；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。
财务报表附注 63 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
五、 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
外币金额 折算率 人民币金额 外币金额 折算率 人民币金额
现金
人民币 423,103.70 516,566.95
港币 3,463.10 0.8152 2,823.12 32,709.72 0.8107 26,517.77
美元 4.00 6.3249 25.30
欧元 48,605.80 7.871 382,576.25 5,741.15 8.1625 46,862.14
小计 808,528.37 589,946.86
银行存款
人民币 153,528,969.89 182,432,179.84
港币 1,268,478.92 0.8152 1,034,064.02 1,608,398.48 0.8107 1,303,928.65
美元 659,329.37 6.3249 4,170,192.33 1,151,113.06 6.3009 7,253,048.28
欧元 26,590,831.73 7.871 209,296,436.55 21,096,040.04 8.1625 172,196,426.83
小计 368,029,662.79 363,185,583.60
其他货币资金
人民币 2,453,885.37 1,226,521.10
小计 2,453,885.37 1,226,521.10
合 计 371,292,076.53 365,002,051.56
其中受限制的货币资金明细如下：
项目 期末余额 年初余额 备注
授信额度保证金 984,764.42 1,034,433.63 注1
用于担保的定期存单 5,301,212.96 5,497,541.70 注2
合 计 6,285,977.38 6,531,975.33
注 1：上工（欧洲）控股有限责任公司 EUR 125,113.00 元授信额度保证金抵押给德国银行，
折合人民币 984,764.42 元；
注 2：上工（欧洲）控股有限责任公司 EUR 673,512.00 元存单抵押给 FAG 库格福斯有限
公司，折合人民币 5,301,212.96 元。
财务报表附注 64 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(二) 交易性金融资产
1、 交易性金融资产
项目 期末公允价值 年初公允价值
交易性债券投资
交易性权益工具投资 466,877.00 528,153.00
指定为以公允价值计量且变动计入当期损益的金融资产
衍生金融资产
套期工具
其他 279,962.87 265,489.16
合计 746,839.87 793,642.16
2、 期末变现有限制的交易性金融资产：无。
(三) 应收票据
1、 应收票据的分类
种类 期末余额 年初余额
银行承兑汇票 6,755,087.12 3,041,439.20
商业承兑汇票 400,000.00
合计 6,755,087.12 3,441,439.20
2、 期末已质押的应收票据情况：无。
3、 因出票人无力履约而将票据转为应收账款的票据，以及期末公司已经背书给他方但
尚未到期的票据情况：无。
(四) 应收股利
未收回原 相关款项是否
项 目 年初余额 本期增加 本期减少 期末余额
因 发生减值
账龄一年以上的
638,783.61 638,783.61
应收股利
其中：上海申丝企 尚未支付
638,783.61 638,783.61 否
业发展有限公司 股利
合 计 638,783.61 638,783.61
财务报表附注 65 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(五) 应收账款
1、 应收账款按种类披露
期末余额 年初余额
种类 账面余额 坏账准备 账面余额 坏账准备
金额 比例（%） 金额 比例（%） 金额 比例（%） 金额 比例（%）
单项金额重大并单项计提
26,037,268.00 7.24 26,037,268.00 100.00 37,571,987.50 12.64 27,001,550.00 71.87
坏账准备的应收账款
按组合计提坏账准备的应
195,727,957.50 54.40 101,096,833.48 51.65 167,901,963.91 56.50 100,210,033.02 59.68
收账款
单项金额虽不重大但单项
138,000,759.38 38.36 8,331,934.97 6.04 91,696,628.21 30.86 7,386,280.95 8.06
计提坏账准备的应收账款
合计 359,765,984.88 100.00 135,466,036.45 297,170,579.62 100.00 134,597,863.97
应收账款种类的说明：
期末单项金额重大并单项计提坏账准备的应收账款
应收账款内容 账面余额 坏账准备 计提比例 计提理由
第一名客户 26,037,268.00 26,037,268.00 100.00 超信用期
合计 26,037,268.00 26,037,268.00
期末单项金额重大并单项计提坏账准备的应收账款为上工(欧洲)控股有限责任公司应收
账款，按单项金额测试计提减值准备。
组合中，采用账龄分析法计提坏账准备的应收账款：
期末余额 年初余额
账龄 账面余额 账面余额
坏账准备 坏账准备
金额 比例（%） 金额 比例（%）
1 年以内 93,238,869.82 47.64 4,661,943.49 65,746,059.74 39.16 3,287,302.97
1－2 年 6,508,473.00 3.32 1,301,694.60 5,416,174.06 3.23 1,083,234.80
2－3 年 1,694,838.58 0.87 847,419.29 1,800,469.76 1.07 900,234.90
3 年以上 94,285,776.10 48.17 94,285,776.10 94,939,260.35 56.54 94,939,260.35
合计 195,727,957.50 100.00 101,096,833.48 167,901,963.91 100.00 100,210,033.02
财务报表附注 66 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
期末单项金额虽不重大但单项计提坏账准备的应收账款
应收账款内容 账面余额 坏账准备 计提比例 计提理由
其他不重大应收账款
2,150,000.00 2,150,000.00 100.00 超信用期
（注 1）
其他不重大应收账款
135,850,759.38 6,181,934.96 4.55 超信用期
（注 2）
合计 138,000,759.38 8,331,934.96
注 1：主要为子公司杜克普爱华贸易(上海）有限公司应收账款，按单项金额测试计提减
值准备。
注 2：主要为子公司上工(欧洲)控股有限责任公司应收账款，按单项金额测试计提减值准
备。
2、 本报告期实际核销的应收账款情况：无。
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、 应收账款中欠款金额前五名
排名 与本公司关系 账面余额 账龄 占应收账款总额的比例(%)
第一名 非关联方 26,037,268.00 2-3 年
7.24
第二名 非关联方 11,530,775.39 3 年以上
3.21
第三名 非关联方 10,209,462.90 1 年以内
2.84
第四名 非关联方 7,480,189.67 3 年以上
2.08
第五名 非关联方 7,234,606.86 3 年以上
2.01
合计 62,492,302.82 17.38
5、 期末应收账款中关联方欠款详见附注六（五）。
财务报表附注 67 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(六) 其他应收款
1、 其他应收款按种类披露：
期末余额 年初余额
种类 账面余额 坏账准备 账面余额 坏账准备
金额 比例（%） 金额 比例（%） 金额 比例（%） 金额 比例（%）
单项金额重大并单项计提坏
29,644,129.65 43.47 9,424,116.30 31.79 26,326,764.69 40.70 9,032,227.24 34.31
账准备的其他应收款
按组合计提坏账准备的其他
36,607,950.99 53.68 31,416,169.71 85.82 36,159,447.84 55.90 31,407,225.14 86.86
应收款
单项金额虽不重大但单项计
1,940,325.63 2.85 2,195,527.86 3.40
提坏账准备的其他应收款
合计 68,192,406.27 100.00 40,840,286.01 64,681,740.39 100.00 40,439,452.38
其他应收款种类的说明：
期末单项金额重大并单项计提坏账准备的其他应收款：
其他应收款内容 账面余额 坏账准备 计提比例 计提理由
出口退税款（注 1） 17,515,449.36 单独测试未发生减值
应收增值税款（注 2） 2,704,563.99 单独测试未发生减值
第二名客户 9,424,116.30 9,424,116.30 100.00 单独测试发生减值
合计 29,644,129.65 9,424,116.30
注 1：主要为子公司出口销售形成的应收出口退税款，按单项金额测试未发生减值。
注 2：主要为子公司上工(欧洲)控股有限责任公司应收增值税款，按单项金额测试未发生
减值。
组合中，采用账龄分析法计提坏账准备的其他应收款：
期末余额 年初余额
账龄
账面余额 坏账准备 账面余额 坏账准备
金额 比例（%） 金额 比例（%）
1 年以内 3,580,039.59 9.78 179,001.99 3,436,422.54 9.50 171,821.12
1－2 年 1,906,363.99 5.21 381,272.80 1,504,786.07 4.16 300,957.21
2－3 年 531,304.99 1.45 265,652.50 567,584.85 1.57 283,792.43
3 年以上 30,590,242.42 83.56 30,590,242.42 30,650,654.38 84.77 30,650,654.38
合计 36,607,950.99 100.00 31,416,169.71 36,159,447.84 100.00 31,407,225.14
财务报表附注 68 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
期末单项金额虽不重大但单项计提坏账准备的其他应收款
其他应收款内容 账面余额 坏账准备 计提比例 计提理由
其他不重大 1,940,325.63 单独测试未发生减值
合 计 1,940,325.63
期末单项金额虽不重大但单项计提坏账准备的其他应收款主要为上工(欧洲)控股有限责
任公司其他应收款，按单项金额测试未发生减值。
2、 本报告期实际核销的其他应收款情况：无。
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及其他关
联方欠款。
4、 其他应收款金额前五名情况
占其他应收款
排名 与本公司关系 账面余额 账龄 性质或内容
总额的比例(%)
第一名 非关联方 17,515,449.36 1 年以内 25.69 出口退税款
1 年以内，
第二名 非关联方 9,424,116.30 13.82 往来款
3 年以上
第三名 非关联方 2,704,563.99 1 年以内 3.97 应收增值税款
第四名 非关联方 2,000,000.00 3 年以上 2.93 往来款
第五名 非关联方 1,821,909.70 3 年以上 2.67 往来款
合计 33,466,039.35 49.08
(七) 预付款项
1、 预付款项按账龄列示
期末余额 年初余额
账龄
账面余额 比例(%) 账面余额 比例(%)
1 年以内 21,183,203.65 98.48 16,846,532.44 92.37
1至2年 30,426.00 0.14 956,509.01 5.24
2至3年 238,427.64 1.11 342,664.34 1.88
3 年以上 58,593.43 0.27 93,242.64 0.51
合计 21,510,650.72 100.00 18,238,948.43 100.00
2、 预付款项金额前五名单位情况
财务报表附注 69 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
排名 与本公司关系 账面余额 账龄 未结算原因
第一名 非关联方 3,526,689.76 一年以内 预付货款，未到合同交货期
第二名 非关联方 1,814,318.27 一年以内 预付货款，未到合同交货期
第三名 非关联方 1,092,946.46 一年以内 预付货款，未到合同交货期
第四名 非关联方 1,025,824.35 一年以内 预付货款，未到合同交货期
第五名 非关联方 912,915.61 一年以内 预付货款，未到合同交货期
合计 8,372,694.45
3、 期末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及其他关联
方欠款。
(八) 存货
1、 存货分类
期末余额 年初余额
项目
账面余额 跌价准备 账面价值 账面余额 跌价准备 账面价值
原材料 141,126,409.47 42,945,730.41 98,180,679.06 148,882,318.17 40,647,461.90 108,234,856.27
在途物资 8,836,923.58 8,836,923.58 13,740,703.03 13,740,703.03
周转材料
委托加工物资 94,923.08 94,923.08 192,419.71 192,419.71
在产品 90,078,636.69 28,913,089.69 61,165,547.00 87,210,381.51 27,660,531.72 59,549,849.79
库存商品 141,456,815.06 29,437,937.42 112,018,877.64 138,781,681.78 27,486,962.17 111,294,719.61
发出商品 1,437,679.73 1,437,679.73 3,418,687.89 3,418,687.89
其他 3,281,697.50 3,281,697.50 3,288,209.34 3,281,697.50 6,511.84
合计 386,313,085.11 104,578,455.02 281,734,630.09 395,514,401.43 99,076,653.29 296,437,748.14
期末存货不存在用于担保或抵押等情况。
财务报表附注 70 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
2、 存货跌价准备
本期减少额
存货种类 年初余额 本期计提额 期末余额
转回 转销及其他
原材料 40,647,461.90 3,649,388.06 1,351,119.55 42,945,730.41
在途物资
周转材料
委托加工物资
在产品 27,660,531.72 2,161,998.17 909,440.20 28,913,089.69
库存商品 27,486,962.17 2,664,759.55 117,106.28 596,678.02 29,437,937.42
发出商品
其他 3,281,697.50 3,281,697.50
合 计 99,076,653.29 8,476,145.78 117,106.28 2,857,237.77 104,578,455.02
(九) 其他流动资产
项目 期末余额 年初余额
租金、保险费 1,919,690.46 1,916,529.78
合计 1,919,690.46 1,916,529.78
(十) 可供出售金融资产
1、 可供出售金融资产情况
项 目 期末公允价值 期初公允价值
（1）可供出售债券
（2）可供出售权益工具 72,969,110.72 86,183,204.93
（3）其 他
合 计 72,969,110.72 86,183,204.93
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：无。
财务报表附注 71 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(十一) 对合营企业投资和联营企业投资
（金额单位：万元）
本企业持 本企业在被投资单位 本期营业收入总
被投资单位名称 期末资产总额 期末负债总额 期末净资产总额 本期净利润
股比例(%) 表决权比例(%) 额
联营企业：
常熟市启兴电镀五金有限责任公司 90.00 90.00 18.57 157.99 -139.42
上海华之杰塑胶有限公司 25.00 25.00 545.72 251.21 294.51
杜克普爱华缝制设备(苏州)有限公司 49.00 49.00 4,462.90 279.03 4,183.86 336.55 -200.57
注：常熟市启兴电镀五金有限责任公司和上海华之杰塑胶有限公司已经办理税务注销。
(十二) 长期股权投资
1、 长期股权投资明细情况
在被投资 在被投资 在被投资单位持股
核算方 本期计提
被投资单位 投资成本 年初余额 增减变动 期末余额 单位持股 单位表决 比例与表决权比例 减值准备 本期现金红利
法 减值准备
比例(%) 权比例(%) 不一致的说明
常熟市启兴电镀五金有
权益法 2,520,000.00 90 90
限责任公司
上海华之杰塑胶有限公
权益法 1,766,689.38 736,283.66 736,283.66 25 25 736,283.66
司
杜克普爱华缝制设备
权益法 23,531,957.08 21,483,712.11 -982,776.62 20,500,935.49 49 49
(苏州)有限公司
财务报表附注 72 页
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2012 年半年度
财务报表附注
在被投资 在被投资 在被投资单位持股
核算方 本期计提
被投资单位 投资成本 年初余额 增减变动 期末余额 单位持股 单位表决 比例与表决权比例 减值准备 本期现金红利
法 减值准备
比例(%) 权比例(%) 不一致的说明
权益法小计 22,219,995.77 -982,776.62 21,237,219.15 736,283.66
上海新光内衣厂（南非） 成本法 308,033.99 308,033.99 308,033.99 14.3 14.3 308,033.99
上海申丝企业发展有限
成本法 10,593,077.64 10,593,077.64 10,593,077.64 10.59 10.59
公司
无锡上工缝纫机有限公
成本法 153,814.26 153,814.26 153,814.26 80 80 注2 153,814.26
司
上海华联缝制有限公司 成本法 400,000.00 400,000.00 400,000.00 21.74 注1
上海富士施乐有限公司 成本法 29,140,749.49 29,140,749.49 29,140,749.49 15.92 15.92 10,990,776.50
上海上工佳荣衣车有限
成本法 500,000.00 500,000.00 500,000.00 12.5 12.5 500,000.00
公司
上海宝鼎投资股份有限
成本法 7,500.00 7,500.00 7,500.00 <5 <5
公司
上海银行股份有限公司 成本法 951,400.00 951,400.00 951,400.00 <5 <5 104,655.72
中国浦发机械股份有限
成本法 90,000.00 90,000.00 90,000.00 <5 <5
公司
申银万国证券股份有限
成本法 200,000.00 200,000.00 200,000.00 <5 <5
公司
上海广濑精密工业有限
成本法 2,840,376.00 30 注1 850,000.00
公司
财务报表附注 73 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
在被投资 在被投资 在被投资单位持股
核算方 本期计提
被投资单位 投资成本 年初余额 增减变动 期末余额 单位持股 单位表决 比例与表决权比例 减值准备 本期现金红利
法 减值准备
比例(%) 权比例(%) 不一致的说明
上海工业缝纫机物产总
成本法 4,600,000.00 4,600,000.00 4,600,000.00 100 100 注2 1,033,434.53
公司
成本法小计 46,944,575.38 46,944,575.38 1,995,282.78 11,945,432.22
合计 69,164,571.15 -982,776.62 68,181,794.53 2,731,566.44 11,945,432.22
注 1：公司不参与上海华联缝制有限公司、上海广濑精密工业有限公司生产经营决策，对被投资单位不构成重大影响，按成本法核算。
注 2:：无锡上工缝纫机有限公司、上海工业缝纫机物产总公司已经办理税务注销，按成本法核算并已计提相应减值准备。
2、 向投资企业转移资金的能力受到限制的有关情况：无
财务报表附注 74 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(十三) 投资性房地产
项 目 年初余额 本期增加 本期减少 期末余额
1．账面原值合计 215,709,051.50 1,163,705.00 2,622,690.27 214,250,066.23
（1）房屋、建筑物 164,026,289.86 1,163,705.00 2,622,690.27 162,567,304.59
（2）土地使用权 51,682,761.64 51,682,761.64
2．累计折旧和累计摊销合计 85,618,085.36 2,942,632.36 1,305,083.58 87,255,634.14
（1）房屋、建筑物 76,538,710.18 2,360,035.13 1,305,083.58 77,593,661.73
（2）土地使用权 9,079,375.18 582,597.23 9,661,972.41
3．投资性房地产净值合计 130,090,966.14 -1,778,927.36 1,317,606.69 126,994,432.09
（1）房屋、建筑物 87,487,579.68 -1,196,330.13 1,317,606.69 84,973,642.86
（2）土地使用权 42,603,386.46 -582,597.23 - 42,020,789.23
4．投资性房地产减值准备累计金额合计 8,089,021.01 - 288,875.91 7,800,145.10
（1）房屋、建筑物 8,089,021.01 288,875.91 7,800,145.10
（2）土地使用权 -
5．投资性房地产账面价值合计 122,001,945.13 -1,778,927.36 1,028,730.78 119,194,286.99
（1）房屋、建筑物 79,398,558.67 -1,196,330.13 1,028,730.78 77,173,497.76
（2）土地使用权 42,603,386.46 -582,597.23 42,020,789.23
本期折旧和摊销额 2,942,632.36 元。投资性房地产本期减值准备计提额 0.00 元。
上述投资性房地产期末余额中，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，详见本附注八（一）重大承诺事项披露的抵押资产情况。
(十四) 固定资产
1、 固定资产情况
财务报表附注 75 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
项目 年初余额 本期增加 本期减少 期末余额
一、账面原值合计： 914,321,577.81 3,935,577.42 34,214,282.75 884,042,872.48
其中：房屋及建筑物 394,510,310.87 12,485,540.11 382,024,770.76
机器设备 281,724,600.58 1,139,475.97 12,059,063.73 270,805,012.82
运输工具 13,278,731.25 221,056.00 303,399.58 13,196,387.67
电子设备 2,840,538.88 87,918.97 2,002.13 2,926,455.72
固定资产装修 32,590.14 13,000.00 45,590.14
其他设备 221,934,806.09 2,474,126.48 9,364,277.20 215,044,655.37
本期新增 本期计提
-
二、累计折旧合计： 649,814,389.58 11,902,173.37 25,691,042.97 636,025,519.98
其中：房屋及建筑物 198,453,167.24 3,766,341.61 5,965,834.00 196,253,674.85
机器设备 234,027,136.49 4,729,450.00 10,757,390.92 227,999,195.57
运输工具 7,803,516.20 629,336.45 204,863.40 8,227,989.25
电子设备 2,286,949.17 77,849.69 18,177.40 2,346,621.46
固定资产装修 2,715.63 2,715.63
其他设备 207,240,904.85 2,699,195.62 8,744,777.25 201,195,323.22
三、固定资产账面净值合计 264,507,188.23 -7,966,595.95 8,523,239.78 248,017,352.50
其中：房屋及建筑物 196,057,143.63 -3,766,341.61 6,519,706.11 185,771,095.91
机器设备 47,697,464.09 -3,589,974.03 1,301,672.81 42,805,817.25
运输工具 5,475,215.05 -408,280.45 98,536.18 4,968,398.42
电子设备 553,589.71 10,069.28 -16,175.27 579,834.26
固定资产装修 29,874.51 13,000.00 42,874.51
其他设备 14,693,901.24 -225,069.14 619,499.95 13,849,332.15
四、减值准备合计 8,505,169.56 - 22,928.22 8,482,241.34
其中：房屋及建筑物 6,118,541.16 6,118,541.16
机器设备 2,239,862.87 2,239,862.87
运输工具 48,170.70 48,170.70
电子设备 37,818.61 37,818.61
固定资产装修
其他设备 60,776.22 22,928.22 37,848.00
五、固定资产账面价值合计 256,002,018.67 -7,966,595.95 8,500,311.56 239,535,111.16
其中：房屋及建筑物 189,938,602.47 -3,766,341.61 6,519,706.11 179,652,554.75
机器设备 45,457,601.22 -3,589,974.03 1,301,672.81 40,565,954.38
运输工具 5,427,044.35 -408,280.45 98,536.18 4,920,227.72
财务报表附注 76 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
项目 年初余额 本期增加 本期减少 期末余额
电子设备 515,771.10 10,069.28 -16,175.27 542,015.65
固定资产装修 29,874.51 13,000.00 42,874.51
其他设备 14,633,125.02 -225,069.14 596,571.73 13,811,484.15
本期折旧额 11,902,173.37 元。
本期由在建工程转入固定资产原价为 0.00 元。
上述固定资产期末余额中，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，
详见本附注八（一）重大承诺事项披露的抵押资产情况。
2、 期末暂时闲置的固定资产:无
3、 期末持有待售的固定资产情况：无
4、 期末未办妥产权证书的固定资产情况：
项 目 账面价值 未办妥产权证书的原因 预计办结产权证书时间
房屋及建筑物 405,489.34 自建房屋，正在办理
合 计 405,489.34
(十五) 在建工程
1、 在建工程情况
期末余额 年初余额
项 目
账面余额 减值准备 账面价值 账面余额 减值准备 账面价值
缝制设备工程 2,320,937.35 2,320,937.35 2,137,670.84 2,137,670.84
ERP 项目 839,284.50 839,284.50 839,284.50 839,284.50
新建感光材料 246,733.34 246,733.34
配方实验室
合计 3,406,955.19 3,406,955.19 2,976,955.34 2,976,955.34
财务报表附注 77 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
2、 重大在建工程项目变动情况
工程投入占 工程 利息资本化累 其中：本期利 本期利息资
工程项目名称 预算数 年初余额 本期增加 转入固定资产 其他减少 资金来源 期末余额
预算比例(%) 进度 计金额 息资本化金额 本化率(%)
缝制设备工程 2,137,670.84 259,743.00 76,476.49 在建 自筹 2,320,937.35
ERP 项目 839,284.50 在建 自筹 839,284.50
新建感光材料
246,733.34 在建 自筹 246,733.34
配方实验室
合 计 2,976,955.34 506,476.34 76,476.49 3,406,955.19
财务报表附注 78 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(十六) 无形资产
1、 无形资产情况
项 目 年初余额 本期增加 本期减少 期末余额
1、账面原值合计 66,904,677.90 590,325.00 380,116.00 67,114,886.90
（1）土地使用权 35,877,662.90 35,877,662.90
（2）商标使用权 20,161,268.51 20,161,268.51
（3）电脑软件 76,000.00 76,000.00
（4）专利及非专利技术 10,643,900.00 590,325.00 380,116.00 10,854,109.00
（5）其 他 145,846.49
145,846.49
2、累计摊销合计 33,436,415.70 1,352,209.14 194,571.33 34,594,053.51
（1）土地使用权 7,299,875.70 703,565.88 8,003,441.58
（2）商标使用权 20,161,268.51 20,161,268.51
（3）电脑软件 13,933.29 3,799.98 17,733.27
（4）专利及非专利技术 5,894,765.35 637,551.00 194,571.33 6,337,745.02
（5）其 他 66,572.85 7,292.28 73,865.13
3、无形资产账面净值合计 33,468,262.20 -761,884.14 185,544.67 32,520,833.39
（1）土地使用权 28,577,787.20 -703,565.88 - 27,874,221.32
（2）商标使用权 0.00 0.00
（3）电脑软件 62,066.71 -3,799.98 - 58,266.73
（4）专利及非专利技术 4,749,134.65 -47,226.00 185,544.67 4,516,363.98
（5）其 他 79,273.64 -7,292.28 - 71,981.36
4、减值准备合计 - - -
（1）土地使用权 -
（2）商标使用权 -
（3）电脑软件 -
（4）专利及非专利技术 -
（5）其 他 -
5、无形资产账面价值合计 33,468,262.20 -761,884.14 185,544.67 32,520,833.39
（1）土地使用权 28,577,787.20 -703,565.88 - 27,874,221.32
（2）商标使用权 0.00 0.00
财务报表附注 79 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
项 目 年初余额 本期增加 本期减少 期末余额
（3）电脑软件 62,066.71 -3,799.98 - 58,266.73
（4）专利及非专利技术 4,749,134.65 -47,226.00 185,544.67 4,516,363.98
（5）其 他 79,273.64 -7,292.28 - 71,981.36
本期摊销额 1,352,209.14 元。
上述无形资产期末余额中，部分土地使用权作为抵押物向银行取得借款，详见本附注八
（一）重大承诺事项披露的抵押资产情况。
2、 公司开发项目支出
本期转出数
项 目 年初余额 本期增加 期末余额
计入当期损益 确认为无形资产
开发支出 32,574,276.49 2,853,761.34 6,583,388.78 28,844,649.05
合 计 32,574,276.49 2,853,761.34 6,583,388.78 28,844,649.05
年初及期末余额均为子公司上工(欧洲)控股有限责任公司研究开发形成的开发支出。
(十七) 商誉
被投资单位名称 年初余额 本期增加 本期减少 期末余额 期末减值准备
Beisler GmbH 23,782,260.00 849,314.40 22,932,945.60
合 计 23,782,260.00 849,314.40 22,932,945.60
商誉本期减少为子公司上工(欧洲)控股有限责任公司年初与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 递延所得税资产和递延所得税负债不以抵销后的净
额列示
已确认的递延所得税资产和递延所得税负债
项 目 期末余额 年初余额
递延所得税资产：
资产减值准备 12,882,944.87 13,625,988.66
公允价值变动 56,871.50 56,871.50
可抵扣经营亏损 6,264,582.74 19,630,860.98
小 计 19,204,399.11 33,313,721.14
递延所得税负债：
资产评估增值 16,158,207.30 17,181,653.29
小计 16,158,207.30 17,181,653.29
财务报表附注 80 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(十九) 资产减值准备
本期减少
项 目 年初余额 本期增加 期末余额
转 回 转销及其他
坏账准备 175,037,316.35 4,145,893.31 981,795.15 1,895,092.05 176,306,322.46
存货跌价准备 99,076,653.29 8,476,145.78 117,106.28 2,857,237.77 104,578,455.02
长期股权投资减值准备 2,731,566.44 2,731,566.44
投资性房地产减值准备 8,089,021.01 288,875.91 7,800,145.10
固定资产减值准备 8,505,169.56 22,928.22 8,482,241.34
合计 293,439,726.65 12,622,039.09 1,098,901.43 5,064,133.95 299,898,730.36
(二十) 短期借款
1、 短期借款分类
项目 期末余额 年初余额
抵押借款 4,407,793.53 43,375,426.79
保证借款 115,600,000.00 95,600,000.00
信用借款 348,148.62 348,148.62
合计 120,355,942.15 139,323,575.41
2、 公司以部分资产作为抵押物向银行取得借款 4,407,793.53 元，详见本附注八（一）
重大承诺事项披露的抵押资产情况。
3、 公司保证借款 115,600,000.00 元由上海浦东发展（集团）有限公司担保取得, 详见
本附注八（一）重大承诺事项披露的其他重大财务承诺事项。
(二十一) 应付票据
种 类 期末余额 年初余额
银行承兑汇票 3,927,503.15
商业承兑汇票
合计 3,927,503.15
下一会计期间将到期的金额 3,927,503.15 元。
财务报表附注 81 页
上工申贝（集团）股份有限公司
2012 年半年度
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(二十二) 应付账款
1、
项 目 期末余额 年初余额
应付供应商款项 114,254,711.02 105,400,593.99
合 计 114,254,711.02 105,400,593.99
2、 期末数中无欠持本公司 5％以上（含 5％）表决权股份的股东单位款项。
3、 期末应付账款中关联方欠款情况详见附注六（五）。
4、 期末数中无账龄超过一年的大额应付账款。
(二十三) 预收账款
1、
项目 期末余额 年初余额
预收货款 21,974,495.01 18,419,282.13
合 计 21,974,495.01 18,419,282.13
2、 期末数中无预收持本公司 5％以上（含 5％）表决权股份的股东单位款项。
3、 期末数中无预收关联方款项。
4、 期末数中无账龄超过一年的大额预收款项。
(二十四) 应付职工薪酬
项目 年初余额 本期增加 本期减少 期末余额
（1）工资、奖金、津贴和补贴 26,354,382.28 150,376,336.78 154,915,041.92 21,815,677.14
（2）职工福利费 120,886.79 1,366,382.26 1,383,067.26 104,201.79
（3）社会保险费 117,103.50 4,425,159.80 4,415,094.30 127,169.00
（4）住房公积金 690,773.00 690,773.00
（5）工会经费和职工教育经费 226.00 222,255.58 221,797.28 684.30
（6）辞退福利 138,762.50 138,762.50
（7）其 他 908.00 908.00
合计 26,731,361.07 157,081,815.42 161,765,444.26 22,047,732.23
财务报表附注 82 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
期末余额中主要为上工欧洲（控股）有限责任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、其他员工奖金、辞退福利等。
应付职工薪酬中无属于拖欠性质的金额。
(二十五) 应交税费
税费项目 期末余额 年初余额
增值税 1,662,476.32 1,441,584.48
营业税 115,238.31 118,938.09
企业所得税 14,270,581.50 8,052,336.86
个人所得税 3,307,887.52 2,469,583.88
城市维护建设税 1,669.48 61,078.54
房产税 12,460.80 21,860.40
教育费附加 25,881.81 23,452.48
印花税
堤防费
河道管理费 5,176.34 6,521.99
合计 19,401,372.08 12,195,356.72
境外子公司按各国税法规定执行法定税率。
(二十六) 应付股利
单位名称 期末余额 年初余额 超过一年未支付原因
轻工控股集团公司 959,269.79 959,269.79
社会法人股 73,549.07 73,549.07
合计 1,032,818.86 1,032,818.86
(二十七) 其他应付款
1、
期末余额 年初余额
125,000,847.39 119,457,447.78
2、 期末数中无欠持本公司 5％以上（含 5％）表决权股份的股东单位款项。
期末其他应付款中关联方欠款情况详见附注六（五）。
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(二十八) 预计负债
项目 年初余额 本期增加 本期减少 期末余额
养老金 271,460,262.50 175,566.44 16,091,820.10 255,544,008.84
其他 7,501,973.28 74,349.86 7,427,623.42
合计 278,962,235.78 175,566.44 16,166,169.96 262,971,632.26
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。
(二十九) 一年内到期的非流动负债
项 目 期末余额 年初余额
一年内到期的长期借款 520,000.00 520,000.00
一年内到期的应付债券
一年内到期的长期应付款
合 计 520,000.00 520,000.00
(三十) 其他流动负债
项目 期末余额 年初余额
利息和租金 240,814.58 459,826.03
合计 240,814.58 459,826.03
年初及期末余额均系公司的子公司上工（欧洲）控股有限责任公司提前收到的归属于以后
期间的利息和租金。
(三十一) 长期借款
长期借款分类
借款类别 期末余额 年初余额
信用借款 1,489,984.87 1,489,984.87
合计 1,489,984.87 1,489,984.87
(三十二) 长期应付款
项目 期末余额 年初余额
SAP 软件使用费 3,562,221.76 2,606,878.52
其他 1,611,944.32 1,786,541.62
合计 5,174,166.08 4,393,420.14
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(三十三) 股本
本期变动增（+）减（－）
项目 年初余额 期末余额
发行新股 送股 公积金转股 其他 小计
1．有限售条件股份
(1). 国家持股
(2). 国有法人持股
(3). 其他内资持股
其中：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
2．无限售条件流通股份
(1). 人民币普通股 204,943,027.00 204,943,027.00
(2). 境内上市的外资股 243,943,750.00 243,943,750.00
(3). 境外上市的外资股
(4). 其他
无限售条件流通股份合计 448,886,777.00 448,886,777.00
合计 448,886,777.00 448,886,777.00
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(三十四) 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.公允价值计量变动 12,250,082.11 13,146,494.21 -896,412.10
其中：可供出售金融资产公允价值
变动产生的利得或损失
3.其他资本公积 100,201,287.47 1,360,301.44 98,840,986.03
合计 425,610,919.31 14,506,795.65 411,104,123.66
资本公积本期增减为本期可供出售金融资产公允价值变动损益及权益法下子公司资本公
积变化形成。
(三十五) 盈余公积
项目 年初余额 本期增加 本期减少 期末余额
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
(三十六) 未分配利润
项 目 金 额 提取或分配比例
调整前 上年末未分配利润 -124,234,846.88
调整 年初未分配利润合计数（调增+，调减-）
调整后 年初未分配利润 -124,234,846.88
加： 本期归属于母公司所有者的净利润 28,764,043.63
减：提取法定盈余公积
提取任意盈余公积
应付普通股股利
期末未分配利润 -95,470,803.25
(三十七) 营业收入和营业成本
1、 营业收入、营业成本
项 目 本期金额 上期金额
主营业务收入 755,671,667.81 848,110,432.21
其他业务收入 21,252,157.30 19,024,221.34
营业成本 539,093,035.03 635,358,917.85
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2、 主营业务（分行业）
本期金额 上期金额
行业名称
营业收入 营业成本 营业收入 营业成本
（1）工 业 608,638,126.80 388,883,079.95 629,203,532.89 411,526,423.80
（2）商 业 143,640,591.65 141,287,838.47 218,423,742.02 214,385,591.61
（3）其他 3,392,949.36 1,316,854.75 483,157.30 287,517.69
合 计 755,671,667.81 531,487,773.17 848,110,432.21 626,199,533.10
3、 主营业务（分产品）
本期金额 上期金额
产品名称
营业收入 营业成本 营业收入 营业成本
缝制设备类 556,386,155.86 343,333,927.53 562,723,443.10 351,134,519.63
出口代理 143,640,591.65 141,287,838.47 218,423,742.02 214,385,591.61
办公与影像产品 52,500,588.03 45,662,178.06 66,480,089.79 60,391,904.17
其 他 3,144,332.27 1,203,829.11 483,157.30 287,517.69
合 计 755,671,667.81 531,487,773.17 848,110,432.21 626,199,533.10
4、 主营业务（分地区）
地区名称 本期金额 上期金额
营业收入 营业成本 营业收入 营业成本
境内 409,472,576.51 366,573,061.90 475,662,888.96 438,822,544.65
境外 418,462,471.93 237,178,091.90 446,136,455.94 261,065,901.14
减：公司内部销售相互抵销 72,263,380.63 72,263,380.63 73,688,912.69 73,688,912.69
合 计 755,671,667.81 531,487,773.17 848,110,432.21 626,199,533.10
注：境内、境外系公司各销售主体注册所在地。
5、 公司前五名客户的营业收入情况
排名 营业收入总额 占公司全部营业收入的比例(%)
第一名客户 37,320,722.32 4.80
第二名客户 23,546,913.64 3.03
第三名客户 23,421,075.77 3.01
第四名客户 22,353,980.83 2.88
第五名客户 20,460,472.70 2.63
合计 127,103,165.26 16.35
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(三十八) 营业税金及附加
项目 本期金额 上期金额 计缴标准
营业税 765,104.23 708,073.30 5%
城市维护建设税 349,446.25 233,719.65 7%
教育费附加 249,604.48 109,617.68 5%
其他 1,167,293.75 1,079,714.58
合计 2,531,448.71 2,131,125.21
(三十九) 销售费用
项目 本期金额 上期金额
职工薪酬 32,129,963.88 35,916,956.35
修理及售后服务费 412,242.74 437,295.04
办公费 380,781.08 328,997.36
差旅费 4,193,002.31 5,121,674.34
运输费 5,964,335.04 6,966,313.42
广告费 909,423.07 910,085.98
佣金 7,943,022.61 8,393,033.82
租赁及仓储费 1,975,461.95 2,366,230.63
保险费 638,089.73 637,786.69
包装费 - 7,174.43
会务费 50,007.27 24,116.00
折旧费 367,767.14 468,898.46
展览、展销费 938,454.44 592,298.10
水电费 40,230.83 15,568.16
装卸费 712,518.05 5,500.00
样品印刷品及产品损耗 3,287,298.27 4,354,997.33
其他 12,830,115.77 18,556,088.06
合计 72,772,714.18 85,103,014.17
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(四十) 管理费用
项目 本期金额 上期金额
职工薪酬 38,342,334.67 41,469,027.52
办公费 1,289,588.89 1,819,068.40
水电费 324,173.04 112,128.13
交际应酬费 1,104,431.70 875,614.23
财产保险费 834,951.00 1,047,368.84
会务费 777,810.00 642,672.40
差旅费 1,248,178.87 1,715,884.06
折旧费 4,977,626.94 4,768,441.51
修理费 259,259.05 329,091.75
运输费 548,468.12 661,963.86
租赁费 2,117,686.02 2,361,492.39
董事会、监事会费 160,270.28 43,083.34
聘请中介及咨询费 2,222,159.69 1,590,883.04
诉讼费 77,435.58 106,928.00
新产品研制费 23,436,504.74 28,298,539.30
税费 419,770.54 379,977.26
无形资产摊销 1,351,586.82 2,035,889.19
其他 3,103,014.57 3,130,479.16
合计 82,595,250.52 91,388,532.38
(四十一) 财务费用
类别 本期金额 上期金额
利息支出 10,952,227.00 15,500,316.07
减：利息收入 1,315,647.58 1,920,657.64
汇兑损益 -3,881,692.63 2,810,606.33
其他 376,817.20 679,607.03
合计 6,131,703.99 17,069,871.79
(四十二) 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
交易性金融资产 -33,802.29 -477,030.63
其中：衍生金融工具产生的公允价值变动收益
交易性金融负债
按公允价值计量的投资性房地产
其他
合计 -33,802.29 -477,030.63
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(四十三) 投资收益
1、 投资收益明细情况
项目 本期金额 上期金额
成本法核算的长期股权投资收益 12,445,432.22 1,312,956.63
权益法核算的长期股权投资收益 -982,776.62 -244,580.63
处置长期股权投资产生的投资收益 -284,990.00
持有交易性金融资产期间取得的投资收益
持有至到期投资期间取得的投资收益
持有可供出售金融资产等期间取得的投资收益
处置交易性金融资产取得的投资收益 412,750.70 479,043.18
持有至到期投资取得的投资收益
可供出售金融资产等取得的投资收益 395,717.08
其他
合 计 12,271,123.38 1,262,429.18
2、 按成本法核算的主要长期股权投资收益
本期比上期增减变动
被投资单位 本期金额 上期金额
的原因
上海富士施乐有限公司 10,990,776.50 本期分利
上海蝴蝶进出口有限公司 562,956.63 同比期间超额分配
上海广濑精密工业有限公司 850,000.00 750,000.00 分利同比上升
上海环中商厦有限公司 500,000.00 合作企业本期分利
上海银行 104,655.72 本期分利
3、 按权益法核算的长期股权投资收益
本期比上期增减变动的
被投资单位 本期金额 上期金额
原因
杜克普爱华缝制设备（苏州）
-982,776.62 -244,580.63 同比亏损增加
有限公司
合 计 -982,776.62 -244,580.63
4、 本公司投资收益汇回无重大限制。
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(四十四) 资产减值损失
项目 本期金额 上期金额
坏账损失 3,164,098.16 1,746,451.37
存货跌价损失 8,359,039.50 10,984,554.16
长期股权投资减值损失 -285,000.00
投资性房地产减值损失
固定资产减值损失
合计 11,523,137.66 12,446,005.53
(四十五) 营业外收入
1、
计入本期非经常
项目 本期金额 上期金额
性损益的金额
非流动资产处置利得合计 543,567.20 21,864,940.29 543,567.20
其中：处置固定资产利得 543,567.20 21,864,940.29 543,567.20
处置无形资产利得
非货币性资产交换利得
债务重组利得
接受捐赠
政府补助 57,590.00 1,274,088.00 57,590.00
违约金、罚款收入
其 他 6,041.88 597,052.41 6,041.88
合计 607,199.08 23,736,080.70 607,199.08
2、政府补助明细
项目 本期金额 上期金额 说明
2011 年职工教育基金财政补贴 41,090.00
中小企业国际市场开拓资金 16,500.00
2010 年度企业财政扶持补贴 1,274,088.00
合计 57,590.00 1,274,088.00
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(四十六) 营业外支出
计入本期非经常
项目 本期金额 上期金额
性损益的金额
非流动资产处置损失合计 139,799.03 1,432,553.29 139,799.03
其中：固定资产处置损失 139,799.03 1,432,553.29 139,799.03
无形资产处置损失
债务重组损失
非货币性资产交换损失
对外捐赠
其中：公益性捐赠支出
罚款滞纳金支出 3,428.13 3,428.13
其 他 7,382.00 1,172.90 7,382.00
合计 150,609.16 1,433,726.19 150,609.16
(四十七) 所得税费用
项目 本期金额 上期金额
按税法及相关规定计算的当期所得税 12,088,824.14 4,380,348.98
递延所得税调整 12,900,225.54 2,751,602.48
合计 24,989,049.68 7,131,951.46
(四十八) 基本每股收益和稀释每股收益的计算过程
1、 计算公式
基本每股收益
基本每股收益=P0÷S
S= S0＋S1＋Si×Mi÷M0– Sj×Mj÷M0-Sk
其中：P0 为归属于公司普通股股东的净利润或扣除非经常性损益后归属于普通股股东的
净利润；S 为发行在外的普通股加权平均数；S0 为期初股份总数；S1 为报告期因公积金
转增股本或股票股利分配等增加股份数；Si 为报告期因发行新股或债转股等增加股份数；
Sj 为报告期因回购等减少股份数；Sk 为报告期缩股数；M0 报告期月份数；Mi 为增加股
份次月起至报告期期末的累计月数；Mj 为减少股份次月起至报告期期末的累计月数。
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稀释每股收益
稀释每股收益=P1/(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，P1 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，并考虑稀释性潜在普通股对其影响，按《企业会计准则》及有关规定进行调
整。公司在计算稀释每股收益时，应考虑所有稀释性潜在普通股对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和加权平均股数的影响，
按照其稀释程度从大到小的顺序计入稀释每股收益，直至稀释每股收益达到最小值。
2、 计算过程
（1）基本每股收益
基本每股收益以归属于本公司普通股股东的合并净利润除以本公司发行在外普通股的加
权平均数计算：
项目 本期金额 上期金额
归属于本公司普通股股东的合并净利润 28,764,043.63 24,625,199.36
本公司发行在外普通股的加权平均数 448,886,777.00 448,886,777.00
基本每股收益（元/股） 0.0641 0.0549
普通股的加权平均数计算过程如下：
项目 本期金额 上期金额
年初已发行普通股股数 448,886,777.00 448,886,777.00
加：本期发行的普通股加权数
减：本期回购的普通股加权数
年末发行在外的普通股加权数 448,886,777.00 448,886,777.00
（2）稀释每股收益
稀释每股收益以调整后的归属于本公司普通股股东的合并净利润除以调整后的本公司发
行在外普通股的加权平均数计算：
项目 本期金额 上期金额
归属于本公司普通股股东的合并净利润（稀
28,764,043.63 24,625,199.36
释）
本公司发行在外普通股的加权平均数 （稀
448,886,777.00 448,886,777.00
释）
稀释每股收益（元/股） 0.0641 0.0549
财务报表附注 93 页
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普通股的加权平均数（稀释）计算过程如下：
项目 本期金额 上期金额
计算基本每股收益时年末发行在外的普通股加权平均数 448,886,777.00 448,886,777.00
[可转换债券的影响]
[股份期权的影响]
年末普通股的加权平均数（稀释） 448,886,777.00 448,886,777.00
注 1：列报期间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：无。
注 2：在资产负债表日至财务报告批准报出日之间，发行在外普通股或潜在普通股股数发
生重大变化的情况：无。
(四十九) 其他综合收益
项目 本期金额 上期金额
1.可供出售金融资产产生的利得（损失）金额 -13,146,494.21 12,572.43
减：可供出售金融资产产生的所得税影响
前期计入其他综合收益当期转入损益的净额
小计 -13,146,494.21 12,572.43
2.按照权益法核算的在被投资单位其他综合收益中所享有
-4,472,161.50 6,114,266.36
的份额
减：按照权益法核算的在被投资单位其他综合收益中所
享有的份额产生的所得税影响
前期计入其他综合收益当期转入损益的净额
小计 -4,472,161.50 6,114,266.36
3.现金流量套期工具产生的利得（或损失）金额
减：现金流量套期工具产生的所得税影响
前期计入其他综合收益当期转入损益的净额
转为被套期项目初始确认金额的调整
小计
4.外币财务报表折算差额 -11,056,860.31 19,368,009.35
减：处置境外经营当期转入损益的净额
小计 -11,056,860.31 19,368,009.35
5.其他
减：由其他计入其他综合收益产生的所得税影响
前期其他计入其他综合收益当期转入损益的净额
小计
合计 -28,675,516.02 25,494,848.14
财务报表附注 94 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(五十) 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、代垫款 450,780.87
专项补贴、补助款 57,590.00
利息收入 1,315,647.58
营业外收入 6,041.88
合 计 1,830,060.33
2、 支付的其他与经营活动有关的现金
项 目 本期金额
支付的往来款及佣金 10,992,770.92
销售费用支出 27,748,715.19
管理费用支出 12,538,841.04
营业外支出 10,810.13
银行手续费及其他支出 376,817.20
合 计 51,667,954.48
3、 收到的其他与筹资活动有关的现金
项 目 本期金额
银行存单、保证金等解除质押、抵押 12,727.41
合 计 12,727.41
(五十一) 现金流量表补充资料
1、 现金流量表补充资料
项 目 本期金额 上期金额
1、将净利润调节为经营活动现金流量
净利润 49,981,396.35 39,592,988.22
加：资产减值准备 11,523,137.66 12,446,005.53
固定资产折旧、油气资产折耗、生产性生物资产
14,262,208.50 17,278,303.73
折旧
无形资产摊销 1,934,806.37 2,525,985.54
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
-403,768.17 -21,643,863.66
（收益以“－”号填列）
固定资产报废损失（收益以“－”号填列）
财务报表附注 95 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
项 目 本期金额 上期金额
公允价值变动损失（收益以“－”号填列） 33,802.29 477,030.63
财务费用（收益以“－”号填列） 10,054,138.74 18,310,922.40
投资损失（收益以“－”号填列） -12,271,123.38 -1,262,429.18
递延所得税资产减少（增加以“－”号填列） 14,109,322.03 4,346,828.59
递延所得税负债增加（减少以“－”号填列） -1,023,445.99 -1,958,298.26
存货的减少（增加以“－”号填列） 9,201,316.32 -53,291,079.69
经营性应收项目的减少（增加以“－”号填列） -90,955,090.93 -96,186,620.74
经营性应付项目的增加（减少以“－”号填列） 24,183,607.74 68,986,257.64
其 他
经营活动产生的现金流量净额 30,630,307.53 -10,377,969.25
2、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
3、现金及现金等价物净变动情况
现金的期末余额 365,006,099.15 345,485,398.79
减：现金的期初余额 358,470,076.23 409,008,778.08
加：现金等价物的期末余额
减：现金等价物的期初余额
现金及现金等价物净增加额 6,536,022.92 -63,523,379.29
2、 现金和现金等价物的构成
项 目 期末余额 年初余额
一、现 金 365,006,099.15 358,470,076.23
其中：库存现金 808,528.37 589,946.86
可随时用于支付的银行存款 361,743,685.41 356,653,608.27
可随时用于支付的其他货币资金 2,453,885.37 1,226,521.10
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、期末现金及现金等价物余额 365,006,099.15 358,470,076.23
现金和现金等价物不含母公司或集团内子公司使用受限制期限超过 3 个月的现金和现金
等价物。
财务报表附注 96 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
六、 关联方及关联交易
(一) 本企业的母公司情况 （金额单位：万元）
关联关 企业类 注册 母公司对本公司 对本公司的表
母公司名称 法定代表人 业务性质 注册资本 本公司最终控制方 组织机构代码
系 型 地 的持股比例(%) 决权比例(%)
上海市浦东新区国有 控股股 受上海市浦东新区人民政府委 上海市浦东新区国有
上海 黄国平 23.48 23.48 00245606-0
资产监督管理委员会 东 托，专司浦东新区国有资产管理。 资产监督管理委员会
(二) 本企业的子公司情况 （金额单位：万元）
子公司全称 子公司类型 企业类型 注册地 法定代表人 业务性质 注册资本 持股比例(%) 表决权比例(%) 组织机构代码
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 张敏 缝制设备进出口等 USD400 40 74 78627462-7
上海双重包缝机有限公司 控股子公司 有限责任公司 上海 陈长保 缝制设备等 1,200 70 90 63132496-8
上海上工蝴蝶缝纫机有限公司 全资子公司 一人有限责任公司 上海 方海祥 缝制设备等 7,900 100 100 74809363-0
上海索营置业有限公司 控股子公司 有限责任公司 上海 马民良 房地产开发等 1,300 69 69 13246335-7
上海工业缝纫机物产总公司 全资子公司 非公司制企业 上海 姜言海 缝制设备等 465 100 100 13224151-9
上工(欧洲)控股有限责任公司 全资子公司 有限责任公司 德国 张敏 缝制设备等 EUR2,250 100 100
上海申贝外高桥办公设备有限公司 全资子公司 有限责任公司 上海 杨文倡 保税区仓储等 862 100 100 13221916-X
上海申贝办公机械进出口有限公司 全资子公司 有限责任公司 上海 李嘉明 进出口业务 1200 100 100 72951976-3
上海上工申贝资产管理有限公司 全资子公司 有限责任公司 上海 姜言海 资产管理等 500 100 100 56803204-8
财务报表附注 97 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(三) 本企业的合营和联营企业情况 （金额单位：万元）
本企业持股 本企业在被投资单
被投资单位名称 企业类型 注册地 法人代表 业务性质 注册资本 关联关系 组织机构代码
比例(%) 位表决权比例(%)
联营企业：
常熟市启兴电镀五金有限责任公司 有限责任公司 常熟 王目炯 电镀、号码机零部件生产 280.00 90 90 联营企业 14204429-5
上海华之杰塑胶有限公司 有限责任公司 上海 戴四维 化工产品生产 USD764 25 25 联营企业 60734921-7
杜克普爱华缝制设备(苏州)有限公
有限责任公司 江苏省 卜伟平 缝制设备等 USD750 49 49 联营企业 57141865-4
司
财务报表附注 98 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(四) 本企业的其他关联方情况
其他关联方名称 其他关联方与本公司的关系 组织机构代码
上海广濑精密工业有限公司 本公司参股公司 60742796-7
上海富士施乐有限公司 本公司参股公司 60720953-X
(五) 关联交易
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、 采购商品/接受劳务情况
本期金额 上期金额
关联交易内 关联交易定价方
关联方 占同类交易 占同类交
容 式及决策程序 金额 金额
比例(%) 易比例(%)
杜克普爱华缝制设 采购缝制设
协议价格 6,819,406.29 1.29
备（苏州）有限公司 备类
出售商品/提供劳务情况
关联交易定价 本期金额 上期金额
关联交易内
关联方 方式及决策程 占同类交易比 占同类交
容 金额 金额
序 例(%) 易比例(%)
上海富士施乐有限
销售商品 协议价格 23,546,913.64 3.03 17,464,024.82 2.01
公司
3、 关联方应收应付款项
应收关联方款项
期末余额 年初余额
项目名称 关联方
账面余额 坏账准备 账面余额 坏账准备
应收账款
上海富士施乐有限公司 10,209,462.90 510,473.15 3,151,900.23 157,595.01
杜克普爱华缝制设备（苏
2,622,568.72 131,128.44 4,218,908.46 210,945.42
州）有限公司
财务报表附注 99 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
应付关联方款项
项目名称 关联方 期末余额 年初余额
应付账款
杜克普爱华缝制设备（苏州）有限公司 2,523,374.46 858,805.61
其他应付款
杜克普爱华缝制设备（苏州）有限公司 54,289.00
4、 关联租赁情况
公司出租情况： （金额单位：万元）
租赁资产 租赁收益 本期确认的
出租方名称 承租方名称 租赁起始日 租赁终止日
种类 定价依据 租赁收益
上工申贝（集团） 上海广濑精密
机器设备 2011/3/11 2016/3/11 合同协议 25
股份有限公司 工业有限公司
七、 或有事项
(一) 未决诉讼或仲裁形成的或有负债及其财务影响:无。
(二) 为其他单位提供债务担保形成的或有负债及其财务影响
截止 2012 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
（单位:万元）
是否已经
被担保单位 担保金额 担保期限 担保类型 对本公司的财务影响
履行完毕
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。
2005 年度，本公司为上工（欧洲）控股有限责任公司（下称“上工欧洲”）的控股子公司
德国杜克普阿德勒股份有限公司（下称“DA 公司”）在美国子公司的房屋租赁向德国 FAG
Kugelfischer GmbH（下称“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 2012 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。
八、 承诺事项
(一) 重大承诺事项
财务报表附注 100 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
1、 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：无。
2、 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 2012 年 6 月 30 日止，公司无需要披露的已签订的正在或准备履行的大额发包
合同。
3、 已签订的正在或准备履行的重大租赁合同及财务影响。
截至 2012 年 6 月 30 日止，公司无需要披露的已签订的正在或准备履行的重大租赁
合同。
4、 已签订的正在或准备履行的并购协议
截至 2012 年 6 月 30 日止，公司无需要披露的已签订的正在或准备履行的并购协议。
5、 已签订的正在或准备履行的重组计划
截至 2012 年 6 月 30 日止，公司无需要披露的已签订的正在或准备履行的重组计划。
6、 其他重大财务承诺事项
(1)抵押资产借款及授信情况 （单位：万元）
抵押质押物 抵押用途 借款金额 借款人
世纪大道 1500 号 1101A-1101D 室 授信额度保证金 上工申贝（集团）股份有限公司
银行存款 12.51 万欧元 授信额度保证金 上工（欧洲）控股有限公司
银行存款 67.35 万欧元 保证金 上工（欧洲）控股有限公司
固定资产 1,252.95 万欧元 授信额度保证金 440.78 上工（欧洲）控股有限公司
(2)截止 2012 年 6 月 30 日关联方及其他单位为公司提供债务担保情况（单位：万元）
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 2,900
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 11,560
报告期内，本公司将下属子公司上海上工蝴蝶缝纫机有限公司 100%的股权、上海上工
蝴蝶缝纫机有限公司持有的上海蝴蝶进出口有限公司 80%的股权和本公司持有的沪宜
公路 190 号房地产作为反担保质押标的物，为上海浦东发展（集团）有限公司向公司
提供额度 11,560 万元（截止 2012 年 6 月 30 日，实际累计贷款余额 11,560 万元）借款
保证担保提供反担保，担保期限：自 2009 年 6 月 9 日至 2013 年 6 月 8 日。
财务报表附注 101 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(二) 前期承诺履行情况
本公司无需要披露的前期承诺履行情况事项。
九、 资产负债表日后事项
(一) 重要的资产负债表日后事项说明：无。
(二) 资产负债表日后利润分配情况说明
根据 2012 年 8 月 29 日公司第六届董事会第二十次会议决议，2012 年半年度利润不予分
配。
(三) 其他资产负债表日后事项说明
截止本财务报表批准披露日，公司无需要披露的资产负债表日后发生重大事项。
十、 其他重要事项说明
以公允价值计量的资产和负债
单位：人民币元
本期公允价值 计入权益的累计 本期计提
项目 年初金额 期末金额
变动损益 公允价值变动 的减值
金融资产
1.以公允价值计量且
其变动计入当期损益
793,642.16 -33,802.29 773,125.46
的金融资产（不含衍
生金融资产）
2.衍生金融资产
3.可供出售金融资产 86,183,204.93 -13,146,494.21 -896,412.10 72,969,110.72
金融资产小计 86,976,847.09 -13,180,296.50 -896,412.10 73,742,236.18
投资性房地产
生产性生物资产
其他
上述合计 86,976,847.09 -13,180,296.50 -896,412.10 73,742,236.18
金融负债
财务报表附注 102 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
十一、 母公司财务报表主要项目注释
(一) 应收账款
1、 应收账款按种类披露
期末余额 年初余额
种类 账面余额 坏账准备 账面余额 坏账准备
金额 比例（%） 金额 比例（%） 金额 比例（%） 金额 比例（%）
单项金额重大并单
项计提坏账准备的
应收账款
按组合计提坏账准
104,014,336.82 100.00 81,967,055.08 78.80 98,167,374.63 100.00 81,642,928.29 83.17
备的应收账款
单项金额虽不重大
但单项计提坏账准
备的应收账款
合计 104,014,336.82 100.00 81,967,055.08 98,167,374.63 100.00 81,642,928.29
应收账款种类的说明：
期末单项金额重大并单项计提坏账准备的应收账款：无
组合中，采用账龄分析法计提坏账准备的应收账款：
期末余额 年初余额
账龄 账面余额 账面余额
坏账准备 坏账准备
金额 比例（%） 金额 比例（%）
1 年以内 21,485,074.18 20.66 1,074,253.71 16,148,600.96 16.45 807,430.04
1－2 年 1,678,401.36 1.61 335,680.27 1,189,014.03 1.21 237,802.80
2－3 年 587,480.37 0.56 293,740.19 464,128.40 0.47 232,064.21
3 年以上 80,263,380.91 77.17 80,263,380.91 80,365,631.24 81.87 80,365,631.24
合计 104,014,336.82 100.00 81,967,055.08 98,167,374.63 100.00 81,642,928.29
期末单项金额虽不重大但单项计提坏账准备的应收账款：无
2、 本报告期实际核销的应收账款情况：无。
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。
财务报表附注 103 页
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2012 年半年度
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4、 应收账款中欠款金额前五名
排名 与本公司关系 账面余额 账龄 占应收账款总额的比例(%)
第一名客户 非关联方 11,530,775.39 3 年以上 11.09
第二名客户 关联方 10,209,462.90 1 年以内 9.82
第三名客户 非关联方 7,480,189.67 3 年以上 7.19
第四名客户 非关联方 7,234,606.86 3 年以上 6.96
第五名客户 非关联方 4,679,327.49 3 年以上 4.50
合计 41,134,362.31 39.56
5、 应收关联方账款情况
与本公司
单位名称 账面余额 占应收账款总额的比例(%)
关系
上海上工蝴蝶缝纫机有限公司 子公司 734,478.90 0.71
杜克普爱华工业制造(上海)有限公司 孙公司 1,795,394.94 1.73
上海双重包缝机有限公司 子公司 3,267,586.72 3.14
上海申贝办公机械进出口有限公司 子公司 836,552.62 0.80
上海富士施乐有限公司 参股公司 10,209,462.90 9.82
(二) 其他应收款
1、 其他应收款按种类披露：
期末余额 年初余额
种类 账面余额 坏账准备 账面余额 坏账准备
金额 比例（%） 金额 比例（%） 金额 比例（%） 金额 比例（%）
单项金额重大
并单项计提坏
12,229,574.78 13.84 12,229,574.78 100.00 11,837,685.72 13.93 11,837,685.72 100.00
账准备的其他
应收款
按组合计提
坏账准备的 76,120,637.89 86.16 20,547,977.93 26.99 73,157,236.28 86.07 23,080,288.81 31.55
其他应收款
单项金额虽不
重大但单项计
提坏账准备的
其他应收款
合计 88,350,212.67 100.00 32,777,552.71 84,994,922.00 100.00 34,917,974.53
财务报表附注 104 页
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其他应收款种类的说明：
期末单项金额重大并单项计提坏账准备的其他应收款：
其他应收款内容 账面余额 坏账准备 计提比例 计提理由
第四名客户 9,424,116.30 9,424,116.30 100.00 单独测试发生减值
第五名客户 2,805,458.48 2,805,458.48 100.00 单独测试发生减值
合计 12,229,574.78 12,229,574.78
组合中，采用账龄分析法计提坏账准备的其他应收款：
期末余额 年初余额
账龄 账面余额 账面余额
坏账准备 坏账准备
金额 比例（%） 金额 比例（%）
1 年以内 56,853,867.15 74.69 2,842,693.35 51,378,280.20 70.23 2,568,914.01
1－2 年 1,894,993.85 2.49 378,998.77 1,504,786.07 2.06 300,957.21
2－3 年 90,982.17 0.12 45,491.09 127,504.85 0.17 63,752.43
3 年以上 17,280,794.72 22.70 17,280,794.72 20,146,665.16 27.54 20,146,665.16
合计 76,120,637.89 100.00 20,547,977.93 73,157,236.28 100.00 23,080,288.81
期末单项金额虽不重大但单项计提坏账准备的其他应收款：无
2、 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。
3、 其他应收款金额前五名情况
占其他应收款总
单位名称 与本公司关系 账面余额 账龄 性质或内容
额的比例(%)
第一名客户 孙公司 23,695,705.62 1 年以内 26.82 往来款
第二名客户 子公司 12,955,325.61 1 年以内 14.66 往来款
第三名客户 子公司 11,700,000.00 1 年以内 13.24 往来款
第四名客户 子公司 9,485,956.10 1 年以内 10.74 往来款
1 年以内，
第五名客户 非关联方 9,424,116.30 10.67 往来款
3 年以上
合计 67,261,103.63 76.13
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4、 应收关联方账款情况
单位名称 与本公司关系 账面余额 占其他应收款总额的比例(%)
上海上工进出口有限公司 孙公司 622,742.50 0.70
上海上工蝴蝶缝纫机有限公司 子公司 92,699.86 0.10
杜克普爱华贸易(上海)有限公司 子公司 11,700,000.00 13.24
杜克普爱华工业制造(上海)有限公司 孙公司 23,695,705.62 26.82
上海双重包缝机有限公司 子公司 12,955,325.61 14.66
上工申贝资产管理有限公司 子公司 9,485,956.10 10.74
上海申贝办公机械进出口有限公司 子公司 595,710.60 0.67
财务报表附注 106 页
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(三) 长期股权投资
单位：人民币元
在被投资单 在被投资单 在被投资单位持股
本期计提减
被投资单位 核算方法 投资成本 年初余额 增减变动 期末余额 位持股比例 位表决权比 比例与表决权比例 减值准备 本期现金红利
值准备
(%) 例(%) 不一致的说明
合营企业：
常熟市启兴电镀五金有限责任公司 权益法 2,520,000.00 90 90
上海华之杰塑胶有限公司 权益法 1,766,689.38 736,283.66 736,283.66 25 25 736,283.66
权益法小计 736,283.66 736,283.66 736,283.66
子公司：
杜克普爱华工业制造（上海）有限公
成本法 53,223,926.00 53,223,926.00 -53,223,926.00
司
杜克普爱华贸易（上海）有限公司 成本法 11,830,443.11 11,830,443.11 11,830,443.11 40 74
上海工业缝纫机物产总公司 成本法 4,600,000.00 4,600,000.00 4,600,000.00 100 100 1,033,434.53
上海双重包缝机有限公司 成本法 8,400,000.00 8,400,000.00 8,400,000.00 70 90 8,400,000.00
上海索营置业有限公司 成本法 10,313,953.16 10,313,953.16 10,313,953.16 69 69
上海上工蝴蝶缝纫机有限公司 成本法 79,000,000.00 79,000,000.00 79,000,000.00 100 100
上工（欧洲）控股有限责任公司 成本法 225,155,693.64 225,155,693.64 225,155,693.64 100 100
上海申贝外高桥办公设备有限公司 成本法 8,620,000.00 8,620,000.00 8,620,000.00 100 100
上海申贝办公机械进出口有限公司 成本法 12,000,000.00 12,000,000.00 12,000,000.00 100 100
上海上工申贝资产管理有限公司 成本法 5,000,000.00 5,000,000.00 5,000,000.00 100 100 5,000,000.00
财务报表附注 107 页
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在被投资单 在被投资单 在被投资单位持股
本期计提减
被投资单位 核算方法 投资成本 年初余额 增减变动 期末余额 位持股比例 位表决权比 比例与表决权比例 减值准备 本期现金红利
值准备
(%) 例(%) 不一致的说明
其他被投资单位
上海新光内衣厂（南非） 成本法 308,033.99 308,033.99 308,033.99 14.30 14.30 308,033.99
上海申丝企业发展有限公司 成本法 10,593,077.64 10,593,077.64 10,593,077.64 10.59 10.59
无锡上工缝纫机有限公司 成本法 153,814.26 153,814.26 153,814.26 80.00 80.00 153,814.26
上海华联缝制有限公司 成本法 400,000.00 400,000.00 400,000.00 21.74 注
上海富士施乐有限公司 成本法 29,140,749.49 29,140,749.49 29,140,749.49 15.92 15.92 10,990,776.50
上海宝鼎投资股份有限公司 成本法 7,500.00 7,500.00 7,500.00 <5 <5
上海银行股份有限公司 成本法 951,400.00 951,400.00 951,400.00 <5 <5 104,655.72
中国浦发机械股份有限公司 成本法 90,000.00 90,000.00 90,000.00 <5 <5
申银万国证券股份有限公司 成本法 200,000.00 200,000.00 200,000.00 <5 <5
上海广濑精密工业有限公司 成本法 2,840,376.00 30 注 850,000.00
成本法小计 459,988,591.29 -53,223,926.00 406,764,665.29 14,895,282.78 11,945,432.22
合计 460,724,874.95 -53,223,926.00 407,500,948.95 15,631,566.44 11,945,432.02
注：公司不参与上海华联缝制有限公司、上海广濑精密工业有限公司生产经营决策，对被投资单位不构成重大影响，按成本法核算。
财务报表附注 108 页
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(四) 营业收入和营业成本
1、 营业收入、营业成本
项 目 本期金额 上期金额
主营业务收入 58,215,408.62 67,245,009.90
其他业务收入 14,347,536.32 12,646,744.71
营业成本 54,593,143.90 66,494,547.80
2、 主营业务（分行业）
本期金额 上期金额
项 目
营业收入 营业成本 营业收入 营业成本
工 业 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
合 计 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
3、 主营业务（分产品）
本期金额 上期金额
项 目
营业收入 营业成本 营业收入 营业成本
办公与影像产品 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
合 计 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
4、 主营业务（分地区）
本期金额 上期金额
地 区
营业收入 营业成本 营业收入 营业成本
境 内 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
合 计 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
财务报表附注 109 页
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5、 公司前五名客户的营业收入情况
排名 营业收入总额 占公司全部营业收入的比例(%)
第一名客户 23,546,913.64 32.45
第二名客户 3,425,491.12 4.72
第三名客户 2,395,439.34 3.30
第四名客户 1,539,125.61 2.12
第五名客户 1,003,418.80 1.38
合计 31,910,388.51 43.97
(五) 投资收益
1、 投资收益明细
项目 本期金额 上期金额
成本法核算的长期股权投资收益 12,230,435.12 628,146.24
权益法核算的长期股权投资收益
处置长期股权投资产生的投资收益 1.00
持有交易性金融资产期间取得的投资收益 404,110.70 344,110.53
持有至到期投资期间取得的投资收益
持有可供出售金融资产等期间取得的投资收益
处置交易性金融资产取得的投资收益
持有至到期投资取得的投资收益
可供出售金融资产等取得的投资收益 395,717.08
其他
合 计 13,030,263.90 972,256.77
本公司投资收益汇回无重大限制。
2、 按成本法核算的主要长期股权投资收益
被投资单位 本期金额 上期金额 本期比上期增减变动的原因
上海富士施乐有限公司 10,990,776.50 本期分利
上海广濑精密工业有限公司 850,000.00 750,000.00 分利同比上升
上海双重包缝机有限公司 -214,997.10 -121,853.76 子公司超额亏损同比增加
上海环中商厦有限公司 500,000.00 合作企业本期分利
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。
财务报表附注 110 页
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3、 按权益法核算的长期股权投资收益：无
(六) 现金流量表补充资料
项 目 本期金额 上期金额
1、将净利润调节为经营活动现金流量
净利润 1,794,328.97 3,971,199.23
加：资产减值准备 989,163.47 -3,254,735.91
固定资产折旧、油气资产折耗、生产性生物资产折旧 3,871,483.80 3,381,627.55
无形资产摊销 1,265,508.11 2,166,596.28
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
-168,630.62 -21,578,553.49
以“－”号填列）
固定资产报废损失（收益以“－”号填列）
公允价值变动损失（收益以“－”号填列） -6,353.71 111,864.03
财务费用（收益以“－”号填列） 4,255,674.24 7,029,392.58
投资损失（收益以“－”号填列） -13,030,263.90 -972,256.77
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） 1,501,776.52 3,195,745.69
经营性应收项目的减少（增加以“－”号填列） -16,531,788.23 -14,588,249.21
经营性应付项目的增加（减少以“－”号填列） 5,789,249.68 33,978,922.03
其 他
经营活动产生的现金流量净额 -10,269,851.67 13,441,552.01
2、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
3、现金及现金等价物净变动情况
现金的期末余额 73,763,352.03 124,349,613.70
减：现金的期初余额 95,682,363.26 142,618,456.50
加：现金等价物的期末余额
减：现金等价物的期初余额
现金及现金等价物净增加额 -21,919,011.23 -18,268,842.80
财务报表附注 111 页
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十二、 补充资料
(一) 当期非经常性损益明细表
项目 本期金额 说明
非流动资产处置损益 404,698.17
越权审批或无正式批准文件的税收返还、减免
计入当期损益的政府补助，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 57,590.00
补助除外
计入当期损益的对非金融企业收取的资金占用费
企业取得子公司、联营企业及合营企业的投资成本小于取得投
资时应享有被投资单位可辨认净资产公允价值产生的收益
非货币性资产交换损益
委托他人投资或管理资产的损益
因不可抗力因素，如遭受自然灾害而计提的各项资产减值准备
债务重组损益
企业重组费用，如安置职工的支出、整合费用等
交易价格显失公允的交易产生的超过公允价值部分的损益
同一控制下企业合并产生的子公司期初至合并日的当期净损益
与公司正常经营业务无关的或有事项产生的损益
除同公司正常经营业务相关的有效套期保值业务外，持有交易
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 774,665.49
得的投资收益
单独进行减值测试的应收款项减值准备转回
对外委托贷款取得的损益
采用公允价值模式进行后续计量的投资性房地产公允价值变动
产生的损益
根据税收、会计等法律、法规的要求对当期损益进行一次性调
整对当期损益的影响
受托经营取得的托管费收入
除上述各项之外的其他营业外收入和支出 -5,698.25
其他符合非经常性损益定义的损益项目
所得税影响额 -72,048.11
少数股东权益影响额（税后） -55,281.81
合 计 1,103,925.49
财务报表附注 112 页
上工申贝（集团）股份有限公司
2012 年半年度
财务报表附注
(二) 净资产收益率及每股收益：
加权平均净资产收 每股收益（元）
报告期利润
益率（%） 基本每股收益 稀释每股收益
归属于公司普通股股东的净
4.0368 0.0641 0.0641
利润
扣除非经常性损益后归属于
3.8819 0.0616 0.0616
公司普通股股东的净利润
(三) 公司主要会计报表项目的异常情况及原因的说明
期末余额（或 年初余额（或上
报表项目 变动比率 变动原因
本期金额） 期金额）
主要系欧洲子公司本期末月销售收入
应收账款 224,299,948.43 162,572,715.65 37.97
比上年期末月销售收入同比增加所致
主要系欧洲子公司本期可抵扣经营亏
递延所得税资产 19,204,399.11 33,313,721.14 -42.35
损减少所致
主要系本期盈利，增加应交企业所得
应交税费 19,401,372.08 12,195,356.72 59.09
税期末余额
主要系同比减少利息支出及增加汇兑
财务费用 6,131,703.99 17,069,871.79 -64.08
收益综合所致
主要系同比增加成本法确认的投资收
投资收益 12,271,123.38 1,262,429.18 872.02
益所致
主要系同比减少固定资产处置收益所
营业外收入 607,199.08 23,736,080.70 -97.44
致
主要系欧洲子公司所得税费用同比增
所得税费用 24,989,049.68 7,131,951.46 250.38
加所致
十三、 财务报表的批准报出
本财务报表业经公司第六届董事会第二十次会议于 2012 年 8 月 29 日批准报出。
上工申贝（集团）股份有限公司
二〇一二年八月二十九日
财务报表附注 113 页
SGSB GROUP CO.,LTD Interim report 2012
SGSB GROUP CO., LTD.
600843
900924
2012 INTERIM REPORT
If the English Version of this Interim Report involves any differences from the Chinese Version,
the latter shall be effective.
SGSB GROUP CO.,LTD 2012 Interim Report
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 (unaudited)
VIII. For Reference
SGSB GROUP CO.,LTD 2012 Interim Report
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. Gao Lili, Accounting Manager, make the pledge for the authenticity and integrity of
the attached financial statements in the Interim Report.
SGSB GROUP CO.,LTD 2012 Interim Report
II. Company Profile
1. Profile of the Company
(1) Company information
Legal name of the Company in Chinese 上工申贝（集团）股份有限公司
Abbreviation 上工申贝
Legal name of the Company in English SGSB GROUP CO.,LTD.
Abbreviation SGSB
Legal representative Zhang Min
(2) Contact person and information
Secretary to Board of Directors Securities affairs representative
Name Zhang Jianguo Zhou Yongqiang
12th Floor, Orient Mansion, No.1500 12th Floor, Orient Mansion, No.1500
Contact address Century Avenue, Pudong New Area, Century Avenue, Pudong New Area,
Shanghai Shanghai
Tel 021-68407515 021-68407700-1223
Fax 021-63302939 021-63302939
E-Mail zhangjianguo@sgsbgroup.com zyq@sgsbgroup.com
(3) Basic information
Room A-D, Orient Mansion 12F Century Road,
Register address
Pu Dong New Area, Shanghai
Post Code 200122
12th Floor, Orient Mansion, No.1500 Century
Office address
Avenue, Pudong New Area, Shanghai
Post Code 200122
Web Site http://www.sgsbgroup.com
E-Mail sgsb@sgsbgroup.com
(4) New release and place for preparation
Shanghai Securities News and Hong Kong
Press for news release
Commercial Daily
Web address stipulated by China Securities
Regulatory Commission to carry the Interim http://www.sse.com.cn
Report
Place for preparing the Interim Report Office of the Company
(5) Stock information
Stock information
Registered stock Abbreviations used
Stock kind Stock Abbreviation Stock Code
exchange before
Shanghai Stock
A shares SGSB A Shares 600843 Shanggong , Gongfeng
Exchange
Shanghai Stock Shanggong B
B shares 900924 Gongfeng B shares
Exchange Shares
(6) Other relevant information
SGSB GROUP CO.,LTD 2012 Interim Report
Date for original register December 16, 1993
Register institution Shanghai Municipal Industrial and Commercial
Admin.
Date for register change November 14, 2011
Institution for register change Shanghai Municipal Industrial and Commercial
Admin.
Latest change Business license register 310000400080303（Municipal Admin.）
No.
Tax register No. GDSHZ 310 115 132 210 544
Organization code 13221054-4
Public accountants contracted by the Company Shulun Pan Certified Public Accountants Co.,
Ltd.(special and common partnership)
Address of public accountants 4F, 61 East Nan Jing Road, Shanghai
Advisor for legal affairs Shanghai Zhendan Law Office
Address of advisor for legal affairs 16F, 1688 Sichuan Road (N), Shanghai
(7) Financial Highlights
(1) Important accounting and financial figures:
RMB’
Item At end of report period End of last year Increase/
decrease %
Total assets 1,540,308,346.39 1,530,019,795.15 0.67
Owners’ equity (or shareholders’ equity) 701,360,440.32 698,160,052.65 0.46
Net assets value per share attributive to
1.5624 1.5553 0.46
shareholder of listing company (Yuan/share)
Report period ( Jan.-June) Same period of last year Increase/
decrease %
Operating profit 74,513,856.11 24,422,585.17 not applicable
Total profit 74,970,446.03 46,724,939.68 205.10
Net profit attributive to shareholder of listing
28,764,043.63 24,625,199.36 60.45
company
Net profit attributive to shareholder of listing
27,660,118.14 2,281,582.27 16.81
company after non-current account profit/(loss)
Basic earning per share 0.0641 0.0549 1,112.32
Basic earning per share after non-current
0.0616 0.0051 16.76
account profit/(loss)
Earning per share (diluted) 0.0641 0.0549 1,107.84
Weighted average return on net assets (%) 4.0368 4.0156 0.02 increase
Net cash flows generated from operating not applicable
30,630,307.53 -10,377,969.25
activities
Net cash flows per share generated from not applicable
0.0682 -0.0231
operating activities
(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
404,698.17
accrued
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 57,590.00
the policies and regulations of the state
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 774,665.49
hedging activities related to the normal operations of the enterprise
SGSB GROUP CO.,LTD 2012 Interim Report
Other net non-operating income and expenditure -5,698.25
Influence of minority interests -72,048.11
Influence of income tax -55,281.81
Total 1,103,925.49
SGSB GROUP CO.,LTD 2012 Interim Report
III. Variation of Share Capital and Information about Shareholders
1. Information about shareholders
(1) Number of shareholders and distribution of stock capital
Number of shareholders 46,070 shareholders, among whom17,112 are classified as A stock shareholders and
28,958 as B stock shareholders.
Top ten shareholders
Shareholder Classifica-tion Prop.(%) Quantity of Increase/ Quantity of Quantity in
shares decrease shares subject pawn or
to conditional frozen
sales
Shanghai Pudong New Area State-owned 0 0
State-owned Assets Supervision shareholder 23.48 105,395,358 -4,078,800
and Admin. Commission
China Great Wall Assets State-owned 0 Unknown
1.23 5,530,514 0
Management Co., Ltd. shareholder
Shanghai International Trust and State-owned 0 Unknown
Investment Company corporate 0.60 2,681,520 -2,489,401
shareholder
The Hongkong and Shanghai Foreign 0 Unknown
Banking Corporation Limited investor 0.58 2,599,948 2,599,948
A/C2
Shen Yin Wan Guo Nominees Foreign 0 Unknown
0.53 2,368,228 295,000
(HK) Ltd investor
China Pacific Life Insurance Co., Other 0 Unknown
0.48 2,159,500 -9,782,560
Ltd
GuoTai JunAn Securities Foreign 0 Unknown
0.36 1,626,458 -54,208
(Hongkong) Limited investor
UBS CUSTODY SERVICES Foreign 0 Unknown
0.33 1,485,000 -946,933
SINGAPORE PTE.LTD investor
Shanghai San Mao (Group) State-owned 0 Unknown
0.31 1,400,000 0
Co.,Ltd shareholder
Vanguard Total International Foreign 0 Unknown
0.27 1,210,896 1,210,896
stock index Fund investor
Top ten tradable stock shareholders
Shareholder Tradable shares Classification & Quantity
Shanghai Pudong New Area State-owned Assets A shares, 105,395,358
105,395,358
Supervision and Admin. Commission
China Great Wall Assets Management Co., Ltd. 5,530,514 A shares, 5,530,514
Shanghai International Trust and Investment Company 2,681,520 A shares, 2,681,520
The Hongkong and Shanghai Banking Corporation A shares, 2,599,948
2,599,948
Limited A/C2
Shen Yin Wan Guo Nominees (HK) Ltd 2,368,228 B shares, 2,368,228
China Pacific Life Insurance Co., Ltd 2,159,500 B shares, 2,159,500
GuoTai JunAn Securities (Hongkong) Limited 1,626,458 B shares, 1,626,458
UBS CUSTODY SERVICES SINGAPORE PTE.LTD 1,485,000 B shares, 1,485,000
Shanghai San Mao (Group) Co.,Ltd 1,400,000 A shares, 1,400,000
Vanguard Total International stock index Fund 1,210,896 B shares, 1,210,896
Explanation for affiliated transaction relationship or It remains unknown to the Company if any affiliated transaction
SGSB GROUP CO.,LTD 2012 Interim Report
concerted-action relationship between the main relationship or concerted-party relationship exists between SGSB’s top
shareholders 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.
SGSB GROUP CO.,LTD 2012 Interim Report
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) Stock holding information by main shareholder and real controller
During report period, there is no change of stock holding by main shareholder and real controller.
(2) Appointment and outgoing information
During report period, there is no new appointment and outgoing of directors, supvisor board directors,
senior management.
SGSB GROUP CO.,LTD 2012 Interim Report
V. Report by the Board of Directors
1. Overall business prospects and analysis
During the report period, as the domestic economic slows down , and the international euro-zone debt
crisis did not improve, the overall demand in the sewing industry declines, and with rising costs and
increased competition. The Company and all staff made joint efforts to overcome difficulties , the
overall economy running smoothly , the main business indicators not only does not appear a significant
decline, but due to the rapid growth of the company's European subsidiaries make operating profit , net
profit of contrarian substantially growth, significantly better than the previous period.
During report period, the Company realized an operating income of RMB 776,920,000, a decrease of
10.40% compared with last year, an operating profit of RMB 74,510,000, an increase of 205.10%
compared with last year, and a net profit of RMB 49,980,000, an increase of 26.24% compared with last
year, among which the overseas subsidiary of the Comapany contributed an operating income of RMB
423,220,000, an operating profit of RMB76,450,000 and a net profit of RMB 54,520,000, an increase of
48.12%.
During report period, the Company produced and sold respectively 16,816 units and 15,398 units of
industrial sewing machines, respectively 36.6% of decrease and 33% of decrease compared with those
of the same period of last year, among which the overseas companies contributed a production of
9,869units and sales of 8,761 units, respectively 4.4% and 12.3% of increase compared with those of the
same period of last year. The Company exported 222,533 units of Butterfly household sewing machines,
a decrease of 6.4%, and realized the export value of USD 35,710,000 (DA’s contribution excluded), a
decrease of 19.6% compared with the same period of last year.
(1) Highlights and analysis of the significant changes in the end-of-period balance sheet
RMB’
Item End of current period end of previous period Increase/ Increase/ Reason
decrease decrease %
Bills receivable 6,755,087.12 3,441,439.20 3,313,647.92 96.29 Note 1
account receivable 224,299,948.43 162,572,715.65 61,727,232.78 37.97 Note 2
Deferred income tax assets 19,204,399.11 33,313,721.14 -14,109,322.03 -42.35 Note 3
Tax payable 19,401,372.08 12,195,356.72 7,206,015.36 59.09 Note 4
Other current liabilities 240,814.58 459,826.03 -219,011.45 -47.63 Note 5
Note 1: due to the increase of bank acceptance received in current period ;
Note 2:due to increase of sales income of European subsidiary at end of month in current period;
Note 3: due to reduction of deductible operating losses by European subsidiary;
Note 4 : mainly due to the profit gained in current period and increase of balance by end of current period for tax payment;
Note 5: due to write-off the interest and rental costs of the original record.
(2) Highlights and analysis of the significant changes in the end-of-period profit/loss sheet
RMB’
Item Current period Same period of Increase/ Increase/ Reason
previous year decrease decrease %
SGSB GROUP CO.,LTD 2012 Interim Report
Financial expense 6,131,703.99 17,069,871.79 -10,938,167.80 -64.08 Note 1
Net income from changes in fair Note 2
-33,802.29 -477,030.63 443,228.34 92.91
value
Investment income 12,271,123.38 1,262,429.18 11,008,694.20 872.02 Note 3
Operating income 607,199.08 23,736,080.70 -23,128,881.62 -97.44 Note 4
Non-operating expense 150,609.16 1,433,726.19 -1,283,117.03 -89.50 Note 5
Income tax 24,989,049.68 7,131,951.46 17,857,098.22 250.38 Note 6
Minority interest 21,217,352.72 14,967,788.86 6,249,563.86 41.75 Note 7
Other composite income -28,675,516.02 25,494,848.14 -54,170,364.16 -212.48 Note 8
Note 1: mainly due to decrease of interest and increase of exchange income;
Note 2: mainly due to the increase of income from changes in fair value of tradable financial assets;
Note 3: mainly due to the increase of investment income regulated by the Cost Law;
Note 4: mainly due to the decrease of income from disposal of fixed assets;
Note 5: mainly due to the decrease of loss from disposal of fixed assets;
Note 6: mainly due to increase of income tax by European subsidiaries;
Note 7: mainly due to increase of profit by non-wholly owned companies.
Note 8: mainly due to the foreign currency conversion difference in financial report.
(3) Highlights and analysis of the significant changes in the end-of-period cash flow sheet
Item Current period Previous period Increase/ Increase/ Reason
decrease decrease%
Net cash flow generating from Note1
30,630,307.53 -10,377,969.25 41,008,276.78 395.15
operating activities
Net cash flow generating from Note 2
4,709,533.48 68,661,526.97 -63,951,993.49 -93.14
investing activities
Net cash flow generating from Note 3
-23,531,677.51 -130,474,479.55 106,942,802.04 81.96
financing activities
Influence of foreign exchange rate Note 4
-5,272,140.58 8,667,542.54 -13,939,683.12 -160.83
changes on cash
Note 1: mainly due to the decrease of welfare payment to personnel;
Note 2: mainly due to the decrease of cash received from disposal of fixed assets ;
Note 3: mainly due to repayment of principle on behalf of WorldBest Development and increase of short-term loan from bank;
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’
Principal Principal Margin rate Increase/de Increase/de Increase/de
By sector or product operating income operating expense (%) crease of crease of crease of
income (%) expense (%) margin (%)
Sewing equipments 556,386,155.86 343,333,927.53 38.29 -1.13 -2.22 0.69. more
International trade 143,640,591.65 141,287,838.47 1.64 -34.24 -34.10 0.21 less
video materials+ Office 3.87 more
52,500,588.03 45,662,178.06 13.03 -21.03 -24.39
equipment
Others 3,144,332.27 1,203,829.11 61.71 550.79 318.70 21.22 more
Total 755,671,667.81 531,487,773.17 29.67 -10.90 -15.12 3.5 more
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:
SGSB GROUP CO.,LTD 2012 Interim Report
RMB’
Region Principal operating income Increase/decrease (%)
Home 337,209,195.88 -16.11
Abroad 418,462,471.93 -6.20
(3) Operating activities by participating companies
Investment income from Prop. In net profit of the
Company name business Net profit
participating company Company(%)
Shanghai Xerox Copy machine sale and
51,860,308.19 10,990,776.50 38.21
Co.,Ltd production
(4) Reasons of significant changes in profitability ( gross margin) compared with the previous year
During reporting period, there is a substantial increase in profitability ( gross margin) compared with the
previous year, which is mainly due to European subsidiaries adhere to the innovative research and
development, and constantly improve the technological content of products , and maintain its leading
position in the high-end products ; at the same time it increases marketing and integration, and maintains
sustained and rapid growth of production and sales , gross profit margin increased , especially high-
margin , high-end product sales accounted for substantial increase , and make the company's operating
profit increase substantially.
(5) Analysis on significant changes in profit constitution compared with the previous year
On one hand, contribution from German DA’s main business of sewing equipment, on the other hand,
it comes from a substantial increase in investment income brought about by Fuji Xerox , which operates
well .
(6) Problems and difficulties the Company met in the operation
Firstly, because of the continued downturn of the domestic and international economic environment ,
coupled with the demand of decline in sewing equipment industry, there is no immediate and effective
way to stop the decline of domestic industry, the Company is unable to shake off the situation of
depending on the financial statements of Shanggong Europe; Secondly, there is an increase in
receivables compared with the budget, which becomes a risk of cash flow ; Thirdly, the Company is in
lack of all kinds of talents , which seriously hampered the development of enterprises; Fourthly, sales
channels and networks are not perfect , and marketing capabilities should be strengthened ; Fifthly,
international and domestic macroeconomic environment, uncertainty and exchange rate fluctuations
increased the instability of the company's development
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 of non-raised funds in current
period..
4. Operating plan and revision plan for the second half of the year by the Board of Directors
SGSB GROUP CO.,LTD 2012 Interim Report
(1) Sewing equipment at home and abroad market is at a low ebb when the Company should seize the
opportunity in crisis, and bold innovation , adjusting product layout , continue to maintain the
technological leadership of the DA brand , make great efforts to develop high-end intelligent sewing
equipment.
(2) The current domestic business development focus is the revival of "Butterfly" brand and marketing
innovative marketing model, expansion of product variety . DA should also study an extension of the old
brand in the market of home multi-function machines , thus opening the door of the European and
American markets.
(3) Continue downturn in the sewing equipment industry as a whole situation , to diversify the business
development path , and gradually the listed company into a strategic holding enterprise group . Strive for
policy support, and seize market opportunities, and give full play to the function of capital markets , and
continuously expand new business , looking for new profit growth point , reinforce the strength of
enterprises , to achieve diversified development strategy objectives.
(4) Strengthen the development of qualified personnel , combined with the actual , to do the introduction
and training of young cadres.
5. Formulation and implementation of the cash dividend policy during reporting period
(1) Current cash dividend policy of the Company
Company Constitution Article 155 stipulates that the company 's profit distribution policy : According to
the relevant provisions of the State , on the inside and outside the audit results , the implementation of
the principle of " the lower of distribution" ; can take cash or stock paid to shareholders RMB-
denominated dividends; Domestically listed foreign shares to shareholders to pay dividends , paid in
foreign currency.
The company can be an interim cash dividend . The last three years should be allocated to cash
accumulated profits of not less than 30 per cent of the last three years the average annual distributable
profits . When a fiscal year profit company without making a cash profit distribution plan should be
detailed in the annual report, not dividends , not for dividend funds retained uses.
(2) Implementation of the cash dividend policyduirng report period
In view of the current parent company, the profit available for distribution is negative , during the
reporting period , the company is not cash dividends.
(3) In order to further improve the company's profit distribution especially cash dividend policy,
strengthen the consciousness return to shareholders, to better safeguard the interests of investors,
according to the China Securities Regulatory Commission on further implementation of "listing
Corporation cash dividends related matters notice (" SFC hair [2012]37 date) and Shanghai regulatory
bureau "on further doing a good job in Shanghai the area listing Corporation cash dividends related
work notice" (Shanghai Securities Company word [2012]145 date) requirements, the company intends
to fight for our shareholders and in a wide range of independent director's opinions and suggestions
based on the articles of association of the company, "" about the profit distribution policy especially cash
dividends articles were revised and improved, and intends to develop special cash bonus system, further
clarify the profit distribution the basic sequence, basic principle, implementation of policy and dividend
specific conditions, refining profit distribution plan review procedure.
SGSB GROUP CO.,LTD 2012 Interim Report
VI. Significant Events
1. Corporate Governance of the Company
During report period, 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 respectively adjusted one Board Director and one Independent
Director. According to the Guideline for Election of Board Directors of Listing Company regulated by
Shanghai Stock Exchange, the Board of Supervisors makes appraisal for fulfillment of duty on Board
Directors. The Annual General Meeting of Shareholders, 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.
During report period, the Company pays priority to the internal systems construction and tries to perfect
the systems in the process of implementation. In the first half year, the Company amended the Article of
Association, the Working Guideline for Board Secretary etc and operate strictly according to law, to
further strengthen the management on company's information technology .
2. Implementation of cash dividend policy in report period
During the report period, the Company did not realize cash dividend.
3. Significant litigation and arbitration cases during report period
During report period, the Company wasn’t involved in any significant litigation or arbitration cases.
4. Bankrupt related issue
During report period, there is no bankrupt related issues occurred in the Company.
5. Equity investment in other listed companies or financial institutions
(1) Investment in securities
RMB’
Type Code Number Initial investment Quantity of shares Ending book Prop. among Current
value investment in profit/loss
securities
Stock 601558 Hua Rui
Feng 1,080,000.00 48,000.00 336,480.00 45.05 -30,480.00
Dian
Stock 601700 Feng Fan 140,000.00 4,000.00 60,200.00 8.06 -2,040.00
Stock 300160 Xiu Qiang 17,500.00 1,000.00 10,700.00 1.43 -1,375.00
Stock 300165 Tian Rui
65,000.00 2,080.00 30,472.00 4.08 -2,216.00
Yi Qi
Stock 300155 An Ju Bao 49,000.00 2,500.00 29,025.00 3.89 -3,025.00
Funds 160402 HuaAn A 100,000.00 413,534.52 279,962.87 37.49 14,473.71
SGSB GROUP CO.,LTD 2012 Interim Report
Profit/loss current-period sale of /
/ / 403,610.70
securities
Total 1,451,500.00 / 746,839.87 100 378,948.41
Note: the above securities held are from subscription for new shares.
(2) Stock equity of other listed companies held by the Company
RMB’
Code Entity Initial Prop. in the Ending Profit Change in Account title Origin of
investment invested book value /loss shareholder equity
company equity
600637 SVA Financial Legal-perso
Info. assets n
67,600.00 <5% 395,717.08 -368,684.45
available shares
for sale
600689 Sanmao Financial Legal-perso
Textile assets n
1,779,800.00 <5% 5,204,757.00 507,299.10
available shares
for sale
600757 Changjia
72,085,722.82 <5% 67,764,353.72 -13,285,108.86
ng Media
Note: the above stock equity were legal person shares invested and held by the Company when they went to public.
(3) Stock equity of non-listed financial institutions held by the Company
RMB’
Company Initial investment Quantity of Prop. in the Year-end book Profit Change in Account title Origin of
shares invested value /loss shareholder equity
company equity
Bank of <5% Long-term equit Buy-in
951,400.00 805,044 951,400.00 104,655.72
Shanghai y investment
Baoding <5% Long-term Buy-in
Investment 7,500.00 5,751 7,500.00 equity
investment
Shenyin <5% Long-term Buy-in
Wanguo 200,000.00 102,214 200,000.00 equity
investment
Subtotal 1,158,900.00 / / 1,158,900.00 104,655.72 / /
Note: the above stock equity of financial institutions were held by the Company when they set up.
6. Significant acquisition/transfer of assets or merger affairs
(1) Information about acquisition of assets of the Company
During report period, there were no significant acquisitions/transfers of assets or merger affairs.
(2) Information about sale of assets of the Company
During report period, there were no significant sale of assets of the Company.
7. Significant affiliated transactions during report period
During report period, there were no significant affiliated transactions.
8. 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
SGSB GROUP CO.,LTD 2012 Interim Report
RMB’000
External guaranties (for holding subsidiary undertakings excluded)
Company under guaranty Date incurred Amount Category Duration Completed Affiliated
(date of signing under dd/mm/yy (Y/N) party (Y/N)
agreement) guaranty
dd/mm/yy
Shanghai Pudong Development 09/06/2009 115,600 Joint-liability 09/06/2009- N N
(Group) Co., Ltd. guaranty 08/06/2013
Total occurred in current period 0
Total ending balance (A) 115,600
Guaranties for holding subsidiary undertakings
Total occurred in current period
Total ending balance (B) 33,520
Guaranties including those for holding subsidiary undertakings
Total balance (A+B) 149,120
Proportion of total guarantee balance in the Company’s net assets (%) 18.06
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:
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, 2012, 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.
9. Fulfillment of publicly announced commitments
During report period or within the report period, there were no commitments by the Company and
shareholder and the real controller.
10. 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
2012.
11. 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
SGSB GROUP CO.,LTD 2012 Interim Report
criticism from China Securities Regulatory Commission, or publicly condemned by Shanghai Stock
Exchange.
12. Other significant events
During report period, there is no significant events occurred in the Company.
13. Index of information disclosure
Announcement Newspaper and Page No. dd-mm-yyyy Internet track
L2012-001 Announcement of 2011 annual Shanghai Securities News B166 20-01-2012
performance forecast HK Commercial Daily A6
L2012-002 Announcement of resolutions by the Shanghai Securities News B23 21-03-2012
17th meeting of the Sixth Board of Directors HK Commercial Daily A25
L2012-003 Announcement of resolutions by the Shanghai Securities News B23 21-03-2012
14th meeting of the Sixth Board of Suoervisors HK Commercial Daily A25
2011 Annual Report abstract Shanghai Securities NewsB23 21-03-2012
HK Commercial Daily A25 http://www.sse.com.cn
2012 First Quarter Report Shanghai Securities News 98 30-04-2012 Official website of
HK Commercial Daily A4 Shanghai Stock
L2012-004 Announcement of resolutions by the Shanghai Securities News 98 30-04-2012 Exchange
18th meeting of the Sixth Board of Directors HK Commercial Daily A4
L2012-005 Announcement of resolutions by the Shanghai Securities News B13 08-06-2012
19th meeting of the Sixth Board of Directors HK Commercial Daily A13
L2012-006 Announcement of resolutions by the Shanghai Securities News B13 08-06-2012
16th meeting of the Sixth Board of Supervisors HK Commercial Daily A13
L2012-007 Announcement of resolutions by Shanghai Securities News 42 30-06-2012
2011 Annual General Meeting of Shareholders HK Commercial Daily A25
SGSB GROUP CO.,LTD 2012 Interim Report
VII.
Financial Report
The Financial part of 2012 Interim report of the Company is unaudited.
The Financial Report and Annotations to the Financial Report are attached as follows.
Balance Sheet
June 30, 2012
RMB'
Item Note Ending balance Beginning balance
Current assets：
Cash and cash equivalents 371,292,076.53 365,002,051.56
Provision for settlement
Fund for lending
Tradable financial assets 746,839.87 793,642.16
Bills receivable 6,755,087.12 3,441,439.20
Accounts receivable 224,299,948.43 162,572,715.65
Prepayments 21,510,650.72 18,238,948.43
Insurance receivable
Accounts receivable
reinsurance
Contract provision for
accounts receivable reinsurance
Interest receivable
Dividend receivable 638,783.61 638,783.61
Other receivables 27,352,120.26 24,242,288.01
Financial assets
purchased under resale
Inventories 281,734,630.09 296,437,748.14
Non-current assets to
be expired in one year
Other current assets 1,919,690.46 1,916,529.78
Total current assets 936,249,827.09 873,284,146.54
Non-current assets：
Payment of entrustment loans
and advances
Available for sale financial
72,969,110.72 86,183,204.93
assets
Held-to-maturity
investment
Long-term receivables
Long-term investment on
65,450,228.09 66,433,004.71
stocks
Investment properties 119,194,286.99 122,001,945.13
Fixed assets 239,535,111.16 256,002,018.67
Construction in progress 3,406,955.19 2,976,955.34
Construction materials
Disposal of fixed assets
Consumable biological
asset
Oil&gas asset
Intangible assets 32,520,833.39 33,468,262.20
R&D expense 28,844,649.05 32,574,276.49
SGSB GROUP CO.,LTD 2012 Interim Report
Goodwill 22,932,945.60 23,782,260.00
Long-term unamortized
expense
Deferred tax, asset 19,204,399.11 33,313,721.14
Other non-current assets
Total non-current assets 604,058,519.30 656,735,648.61
Total assets 1,540,308,346.39 1,530,019,795.15
Current liabilities：
Short-term loans 120,355,942.15 139,323,575.41
Loans from central bank
Deposits and placements
Borrowing fund
Tradable financial
liabilities
Bills payable 3,927,503.15
Accounts payable 114,254,711.02 105,400,593.99
Advances on sale 21,974,495.01 18,419,282.13
financial assets sold for
repurchase
Fee and commission
payable
Wages and salaries unpaid 22,047,732.23 26,731,361.07
Tax unpaid 19,401,372.08 12,195,356.72
Interest unpaid
Dividend unpaid 1,032,818.86 1,032,818.86
Other payables 125,000,847.39 119,457,447.78
Accounts payable
reinsurance
provison for insurance
contract
Acting sale of securities
Acting underwriting
securities
Long-term liabilities to be
520,000.00 520,000.00
expired in one year
Other current liabilities 240,814.58 459,826.03
Total current liabilities 428,756,236.47 423,540,261.99
non-current liabilities：
Long-term borrowings 1,489,984.87 1,489,984.87
Bonds payable
Long-term accounts
5,174,166.08 4,393,420.14
payable
Specific payable
Contingent liabilities 262,971,632.26 278,962,235.78
Deferred tax, debit 16,158,207.30 17,181,653.29
Other non-current
liabilities
Total non-current
285,793,990.51 302,027,294.08
liabilities
Total liabilities 714,550,226.98 725,567,556.07
owners' equity (or
shareholder’s equity)：
Paid-up capital (or stock) 448,886,777.00 448,886,777.00
Capital reserve fund 411,104,123.66 425,610,919.31
SGSB GROUP CO.,LTD 2012 Interim Report
Less: treasury stock
Special provision
Surplus reserve fund 4,546,242.52 4,546,242.52
General risk reserve
Undistributed profit -95,470,803.25 -124,234,846.88
Difference of foreign
-67,705,899.61 -56,649,039.30
currency translation
Total owners' equity
701,360,440.32 698,160,052.65
attributable to parent company
Minority interests 124,397,679.09 106,292,186.43
Total owners' equity 825,758,119.41 804,452,239.08
Total liabilities and
1,540,308,346.39 1,530,019,795.15
owners' equity
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
Balance Sheet of Parent Company
June 30, 2012:
RMB'
Item Note Ending balance Beginning balance
Current assets：
Cash and cash equivalents 73,763,352.03 95,682,363.26
Tradable financial assets 364,082.87 370,729.16
Bills receivable 2,602,551.12 1,991,439.20
Accounts receivable 22,047,281.74 16,524,446.34
Prepayments 4,310,334.49 344,656.96
Interest receivable
Dividend receivable 638,783.61 638,783.61
Other receivables 55,572,659.96 50,076,947.47
Inventories 24,020,176.35 25,379,305.02
Non-current assets to be
expired in one year
Other current assets
Total current assets 183,319,222.17 191,008,671.02
Non-current assets：
Available for sale financial
72,969,110.72 86,183,204.93
assets
Held-to-maturity
investment
Long-term receivables
Long-term investment on
391,869,382.51 391,869,382.51
stocks
Investment properties 89,882,201.81 90,866,799.43
Fixed assets 49,550,588.83 52,789,186.17
Construction in progress 246,733.34
Construction materials
Disposal of fixed assets
Consumable biological
asset
Oil&gas asset
Intangible assets 26,424,928.19 27,107,839.07
R&D expense
SGSB GROUP CO.,LTD 2012 Interim Report
Goodwill
Long-term unamortized
expense
Deferred tax, asset
Other non-current assets
Total non-current assets 630,942,945.40 648,816,412.11
Total assets 814,262,167.57 839,825,083.13
Current liabilities： 115,948,148.62 135,948,148.62
Short-term loans
Tradable financial
3,927,503.15
liabilities
Bills payable 23,911,003.77 20,605,475.97
Accounts payable 5,123,424.96 3,314,665.53
Wages and salaries unpaid 903,672.79 903,672.79
Tax unpaid 591,231.76 984,907.49
Interest unpaid
Dividend unpaid 1,032,818.86 1,032,818.86
Other payables 86,232,853.24 89,091,718.21
Long-term liabilities to be
520,000.00 520,000.00
expired in one year
Other current liabilities
Total current liabilities 238,190,657.15 252,401,407.47
non-current liabilities：
Long-term borrowings 1,489,984.87 1,489,984.87
Bonds payable
Long-term accounts
1,611,944.32 1,611,944.32
payable
Specific payable
Contingent liabilities
Deferred tax, debit 1,197,067.41 1,197,067.41
Other non-current
liabilities
Total non-current
4,298,996.60 4,298,996.60
liabilities
Total liabilities 242,489,653.75 256,700,404.07
owners' equity (or
shareholder’s equity)：
Paid-up capital (or stock) 448,886,777.00 448,886,777.00
Capital reserve fund 464,199,971.75 477,346,465.96
Less: treasury stock
Special provision
Surplus reserve fund 4,546,242.52 4,546,242.52
General risk reserve
Undistributed profit -345,860,477.45 -347,654,806.42
Total owners' equity(or
571,772,513.82 583,124,679.06
shareholder’s equity)
Total liabilities and
814,262,167.57 839,825,083.13
owners' equity
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
SGSB GROUP CO.,LTD 2012 Interim Report
Profit/Loss Statement
January- June 2012
RMB'
Item Note Current period Last period
1. Total operating revenues 776,923,825.11 867,134,653.55
including：Operating income 776,923,825.11 867,134,653.55
Interest income
Earned insurance
Fees and commission income
2. Total operating cost 714,647,290.09 843,497,466.93
including：Operating expense 539,093,035.03 635,358,917.85
Interest expense
Fees and commission expense
Surrender value
Net claims paid
net reserve for Extraction of
the insurance contract,
Dividend expense for
insurance policy
Reinsurance costs
Principal operating tax and
2,531,448.71 2,131,125.21
associate charge
Sales expense 72,772,714.18 85,103,014.17
Management expense 82,595,250.52 91,388,532.38
Financial expense 6,131,703.99 17,069,871.79
Impairment of assets 11,523,137.66 12,446,005.53
Add: Net income in fluctuation of
-33,802.29 -477,030.63
fair value(less: loss)
Investment income(less: loss) 12,271,123.38 1,262,429.18
Including: investment income
in associated and joint-ventured -982,776.62 -244,580.63
enterprises
Exchange earning(less: loss)
3. Operating profit (less: loss) 74,513,856.11 24,422,585.17
Add：Non-operating income 607,199.08 23,736,080.70
Less：Non-operating expense 150,609.16 1,433,726.19
Including：net loss in disposal of
139,799.03 1,432,553.29
non-current assets
4. Total profit(less: loss) 74,970,446.03 46,724,939.68
Less：Income tax 24,989,049.68 7,131,951.46
5. Net profit(less: loss) 49,981,396.35 39,592,988.22
Net profit attributable to parent
28,764,043.63 24,625,199.36
company
Minority interest 21,217,352.72 14,967,788.86
6.：Earning per share
（1）Basic earning per share 0.0641 0.0549
（2）Diluted earning per share 0.0641 0.0549
7. Other comprehensive income -28,675,516.02 25,494,848.14
8. Total comprehensive income 21,305,880.33 65,087,836.36
SGSB GROUP CO.,LTD 2012 Interim Report
Total comprehensive income
3,200,387.67 48,210,881.59
attributable to parent company
Total comprehensive income
18,105,492.66 16,876,954.77
attributable to minority interest
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
Profit/Loss Statement of Parent Company
January- June 2012
RMB’
Item Note Current period Last period
1. Operating revenues 72,562,944.94 79,891,754.61
Less：Operating expense 54,593,143.90 66,494,547.80
Operating tax and associate
2,132,483.51 1,901,881.02
charge
Sales expense 2,091,519.35 2,448,683.71
Management expense 19,956,870.90 25,562,083.87
Financial expense 4,245,321.07 6,915,324.57
Impairment of assets 989,163.47 -3,254,735.91
Add: Net income in fluctuation of
6,353.71 -111,864.03
fair value(less: loss)
Investment income(less: loss) 13,030,263.90 972,256.77
Including: investment income
in associated and joint-ventured
enterprises
2. Operating profit (less: loss) 1,591,060.35 -19,315,637.71
Add：Non-operating income 226,445.29 23,462,398.47
Less：Non-operating expense 23,176.67 175,561.53
Including：net loss in disposal
15,794.67 175,492.53
of non-current assets
3. Total profit(less: loss) 1,794,328.97 3,971,199.23
Less：Income tax
4. Net profit(less: loss) 1,794,328.97 3,971,199.23
5.：Earning per share
（1）Basic earning per share 0.0040 0.0088
（2）Diluted earning per share 0.0040 0.0088
6. Other comprehensive income -13,146,494.21 -34,491,137.29
7. Total comprehensive income -11,352,165.24 -30,519,938.06
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
Cash Flow Statement
January- June 2012
RMB’
Item Note Current period Last period
1. Cash flow from operating
activities：
Cash inflow from sale of
805,144,342.65 890,705,950.80
goods and provision of services
SGSB GROUP CO.,LTD 2012 Interim Report
Customer deposits and
payments with the net increase
placements
Net increase in loans to the
Central Bank
Net increase in Borrowings
to other financial institutions
Original insurance contract
premiums received in cash
Net cash received
reinsurance
Net increase in insured
savings and investment section
Net increase in disposal of
tradable financial assets
Cash inflow from interest,
fees and commission
Net increase in borrowings
Net increase in repurchase
business funds
Tax refunds received 30,394,316.09 45,554,969.62
Cash inflow from other
1,830,060.33 6,532,745.20
operating activities
Sub-total cash inflow
837,368,719.07 942,793,665.62
from operating activities
Cash inflow from sale of
567,590,781.36 681,964,646.59
goods and provision of services
Net increase in loans and
advances to customers
Net increase in deposit in
central bank and interbank fund
Cash for payment of
original insurance claims
Cash outflow from interest,
fees and commission
Cash dividends paid to
policyholders
Cash paid to and for
174,154,730.91 201,758,824.22
employees
Cash paid for tax 13,324,944.79 10,162,109.60
Cash paid for other
51,667,954.48 59,286,054.46
operating related activities
Sub-total cash outflow
806,738,411.54 953,171,634.87
from operating activities
Net cash in/outflow
30,630,307.53 -10,377,969.25
from operating activities
2. Net cash in/outflow
generated from investment
activities：
Cash inflow from taking 878,327.78 1,642,281.63
SGSB GROUP CO.,LTD 2012 Interim Report
back investment
Cash inflow from return on
12,056,172.22 1,312,956.63
investment
Cash gain from disposal of
fixed assets, intangible assets, 715,935.20 92,245,083.55
and other long-term investment
Cash inflow from disposal
of subsidiaries and other
operating units
Other proceeds related to
investment activities
Sub-total cash inflow
13,650,435.20 95,200,321.81
from investing activities
Cash paid for acquisition of
fixed assets, intangible assets 8,940,901.72 18,905,725.61
and other long-term assets
Cash paid for investment 7,168,124.00
Net increase in securities in
loan
Cash paid for acquisition of
subsidiaries and other operating
units
Cash paid for other
464,945.23
activities related to investment
Sub-total cash outflow
8,940,901.72 26,538,794.84
from investing activities
Net cash in/outflow
generated from investment 4,709,533.48 68,661,526.97
activities
3. Cash flow from financing
activities：
Absorption of investment
Including cash inflow from
absorbing minority
shareholder investment
Borrowings raised 87,752,910.31 166,600,000.00
Cash received from issuing
bonds
Other cash inflow related to
12,727.41 12,865,357.11
financing activities
Sub-total cash inflow
87,765,637.72 179,465,357.11
from financing activities
Cash paid for debt 106,600,000.00 179,373,290.26
Dividend, interest and profit
4,697,315.23 12,313,764.40
paid
Including dividend and
profit paid by subsidiaries to
minority shareholder
Other cash outflow related
118,252,782.00
to financing activities
SGSB GROUP CO.,LTD 2012 Interim Report
Sub-total cash outflow
111,297,315.23 309,939,836.66
from financing activities
Net cash in/outflow
-23,531,677.51 -130,474,479.55
from financing activities
4. Influence of fluctuation of
-5,272,140.58 8,667,542.54
exchange rate
5. Net increase/decrease in
6,536,022.92 -63,523,379.29
cash and cash equivalents
Add： Beginning balance
358,470,076.23 409,008,778.08
of cash and cash equivalents
6. Ending balance of cash and
365,006,099.15 345,485,398.79
cash equivalents
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
Cash Flow Statement of Parent Company
January- June 2012
RMB’
Item Note Current period Last period
1. Cash flow from
operating activities：
Cash inflow from sale
of goods and provision of 75,112,590.76 85,870,964.37
services
Tax refunds received 41,090.00
Cash inflow from other
1,495,580.23 42,709,055.27
operating activities
Sub-total cash inflow
76,649,260.99 128,580,019.64
from operating activities
Cash inflow from sale
of goods and provision of 46,082,610.40 62,650,308.92
services
Cash paid to and for
18,935,476.26 26,164,526.75
employees
Cash paid for tax 5,163,164.61 4,881,582.56
Cash paid for other
16,737,861.39 21,442,049.40
operating related activities
Sub-total cash
outflow from operating 86,919,112.66 115,138,467.63
activities
Net cash
in/outflow from operating -10,269,851.67 13,441,552.01
activities
2. Net cash in/outflow
generated from investment
activities：
Cash inflow from
878,327.78 344,110.53
taking back investment
Cash inflow from
12,047,532.22 750,000.00
return on investment
SGSB GROUP CO.,LTD 2012 Interim Report
Cash gain from
disposal of fixed assets,
314,314.20 92,080,761.47
intangible assets, and other
long-term investment
Cash inflow from
disposal of subsidiaries and 1.00 186,106.09
other operating units
Other proceeds related
to investment activities
Sub-total cash inflow
13,240,175.20 93,360,978.09
from investing activities
Cash paid for
acquisition of fixed assets,
522,772.57 2,033,917.42
intangible assets and other
long-term assets
Cash paid for
183,570.00
investment
Cash paid for
acquisition of subsidiaries
and other operating units
Cash paid for other
activities related to
investment
Sub-total cash
outflow from investing 522,772.57 2,217,487.42
activities
Net cash
in/outflow generated from 12,717,402.63 91,143,490.67
investment activities
3. Cash flow from
financing activities：
Absorption of
investment
Borrowings raised 86,600,000.00 166,600,000.00
Cash received from
issuing bonds
Sub-total cash inflow
12,865,095.00
from financing activities
Cash paid for debt 86,600,000.00 179,465,095.00
Dividend, interest and
106,600,000.00 176,600,000.00
profit paid
Other cash outflow
related to financing 4,366,733.23 7,247,795.53
activities
Sub-total cash
outflow from financing 118,252,782.00
activities
Net cash
in/outflow from financing 110,966,733.23 302,100,577.53
activities
SGSB GROUP CO.,LTD 2012 Interim Report
4. Influence of fluctuation
-24,366,733.23 -122,635,482.53
of exchange rate
5. Net increase/decrease in
171.04 -218,402.95
cash and cash equivalents
Add： Beginning
balance of cash and cash -21,919,011.23 -18,268,842.80
equivalents
6. Ending balance of cash
95,682,363.26 142,618,456.50
and cash equivalents
73,763,352.03 124,349,613.70
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
SGSB GROUP CO.,LTD Interim report 2012
Owners' Equity -Consolidated
January- June 2012
RMB’
Current period balance
Owners' equity attributable to parent company
Item Less: General Minority Total owners'
Special Surplus Undistributed
Paid-up capital Capital reserve treasury risk Others interest equity
provision reserve profit
stock preparation
1. Last accounting
448,886,777.00 425,610,919.31 4,546,242.52 -124,234,846.88 -56,649,039.30 106,292,186.43 804,452,239.08
period balance
Add:
accounting policy
changes
Correctio
n of previous-period
accounting errors
Others
2. Beginning balance 448,886,777.00 425,610,919.31 4,546,242.52 -124,234,846.88 -56,649,039.30 106,292,186.43 804,452,239.08
3. Increase/decrease -14,506,795.65 28,764,043.63 -11,056,860.31 18,105,492.66 21,305,880.33
(1) Net profit 28,764,043.63 21,217,352.72 49,981,396.35
(2) Gains and losses
directly into owners' -14,506,795.65 -11,056,860.31 -3,111,860.06 -28,675,516.02
equity
Sub-total of (1) and
-14,506,795.65 28,764,043.63 -11,056,860.31 18,105,492.66 21,305,880.33
(2)
(3) Owner inputs and
reducing capital
a. Owner inputs
capital
b. Shares included in
owners' equity
c. Others
(4) Profit distribution
a. Surplus reserve
b. General risk
SGSB GROUP CO.,LTD 2012 Interim Report
reserve
c. Distribution to
owners or
shareholders
d. Others
(5). Inner carry-over
of owners' equity
a. Capital reserve
turn to stock equity
b. Surplus reserve
turn to stock equity
c. Surplus reserve to
recover loss
d. Others
(6). Special provision
a. Current extraction
b.Current use
4. Ending balance
448,886,777.00 411,104,123.66 4,546,242.52 -95,470,803.25 -67,705,899.61 124,397,679.09 825,758,119.41
RMB’
Previous period
Owners' equity attributable to parent company
Item Less: General Minority Total owners'
Special Surplus Undistributed
Paid-up capital Capital reserve treasury risk Others interest equity
provision reserve profit
stock preparation
1. Last accounting
448,886,777.00 418,356,508.92 4,546,242.52 -236,899,958.76 -33,960,652.36 96,216,291.46 697,145,208.78
period balance
Add:
accounting policy
changes
Correction
of previous-period
accounting errors
Others
2. Beginning balance 448,886,777.00 418,356,508.92 4,546,242.52 -236,899,958.76 -33,960,652.36 96,216,291.46 697,145,208.78
3. Increase/decrease 4,217,672.88 24,625,199.36 19,368,009.35 16,876,954.78 65,087,836.37
SGSB GROUP CO.,LTD 2012 Interim Report
(1) Net profit 24,625,199.36 14,967,788.86 39,592,988.22
(2) Gains and losses
directly into owners' 4,217,672.88 19,368,009.35 1,909,165.92 25,494,848.15
equity
Sub-total of (1) and (2) 4,217,672.88 24,625,199.36 19,368,009.35 16,876,954.78 65,087,836.37
(3) Owner inputs and
reducing capital
a. Owner inputs capital
b. Shares included in
owners' equity
c. Others
(4) Profit distribution
a. Surplus reserve
b. General risk reserve
c. Distribution to
owners or shareholders
d. Others
(5). Inner carry-over of
owners' equity
a. Capital reserve turn
to stock equity
b. Surplus reserve turn
to stock equity
c. Surplus reserve to
recover loss
d. Others
(6). Special provision
a. Current extraction
b.Current use
4. Ending balance
448,886,777.00 422,574,181.80 4,546,242.52 -212,274,759.40 -14,592,643.01 113,093,246.24 762,233,045.15
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
SGSB GROUP CO.,LTD 2012 Interim Report
Owners' Equity-Parent Company
January- June 2012
RMB’
Current period
Less: General
Item Special Surplus Undistributed Total owners'
Paid-up capital Capital reserve treasury risk
provision reserve profit equity
stock preparation
1. Last accounting -
448,886,777.00 477,346,465.96 4,546,242.52 583,124,679.06
period balance 347,654,806.42
Add:
accounting policy
changes
Correction
of previous-period
accounting errors
Others
-
2. Beginning balance 448,886,777.00 477,346,465.96 4,546,242.52 583,124,679.06
347,654,806.42
3. Increase/decrease -13,146,494.21 1,794,328.97 -11,352,165.24
(1) Net profit 1,794,328.97 1,794,328.97
(2) Gains and losses
directly into owners' -13,146,494.21 -13,146,494.21
equity
Sub-total of (1) and
-13,146,494.21 1,794,328.97 -11,352,165.24
(2)
(3) Owner inputs and
reducing capital
a. Owner inputs
capital
b. Shares included in
owners' equity
c. Others
(4) Profit distribution
a. Surplus reserve
b. General risk
reserve
c. Distribution to
owners or
shareholders
d. Others
(5). Inner carry-over
of owners' equity
a. Capital reserve
turn to stock equity
b. Surplus reserve
turn to stock equity
c. Surplus reserve to
recover loss
d. Others
(6). Special provision
a. Current extraction
b.Current use
4. Ending balance
-
448,886,777.00 464,199,971.75 4,546,242.52 571,772,513.82
345,860,477.45
RMB’
Previous period
Less: General
Item Special Surplus Undistributed Total owners'
Paid-up capital Capital reserve treasury risk
provision reserve profit equity
stock preparation
1. Last accounting 448,886,777.00 506,072,877.19 4,546,242.52 - 580,191,978.73
SGSB GROUP CO.,LTD 2012 Interim Report
period balance 379,313,917.98
Add:
accounting policy
changes
Correction
of previous-period
accounting errors
Others
-
2. Beginning balance 448,886,777.00 506,072,877.19 4,546,242.52 580,191,978.73
379,313,917.98
3. Increase/decrease -34,491,137.29 3,971,199.23 -30,519,938.06
(1) Net profit 3,971,199.23 3,971,199.23
(2) Gains and losses
directly into owners' -34,491,137.29 -34,491,137.29
equity
Sub-total of (1) and
-34,491,137.29 3,971,199.23 -30,519,938.06
(2)
(3) Owner inputs and
reducing capital
a. Owner inputs
capital
b. Shares included in
owners' equity
c. Others
(4) Profit distribution
a. Surplus reserve
b. General risk
reserve
c. Distribution to
owners or
shareholders
d. Others
(5). Inner carry-over
of owners' equity
a. Capital reserve
turn to stock equity
b. Surplus reserve
turn to stock equity
c. Surplus reserve to
recover loss
d. Others
(6). Special provision
a. Current extraction
b.Current use
4. Ending balance
448,886,777.00 471,581,739.90 4,546,242.52 -375,342,718.75 549,672,040.67
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
SGSB GROUP CO.,LTD 2012 Interim Report
Annotations to Financial Statements
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 the People’s
Republic of China. The Company got the Corporate Business License numbered 310000400080303
(Municipal Bureau) 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, 12F, 1200 Century Avenue, Pudong New Area, Shanghai as
headquarters’ 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 China with purpose of satisfying the growing
demand of customers for auto-running sewing machines.
At the meantime, the Company has also its business in 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, 2012, the total number of shares is of 448,886,777, 100%
categorized as unconditionally tradable shares.
2. Principal accounting policies, estimations and early errors
2.1 Basis for the formulation of financial statements
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.
2.2 Declaration for the adoption of the Accounting Standards for Enterprises
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.
2.3 Accounting Calendar
SGSB GROUP CO.,LTD 2012 Interim Report
The Company adopts the Gregorian calendar and defines every accounting year as beginning at January
1 and ending at the same December 31.
2.4 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.
2.5 Accounting treatment of business combination under/not under the same controller
2.5.1 Under the same controller
The acquired assets and liabilities by the company through business combination are measured at their
book value with the merged parties on the date of merger. The capital surplus should be adjusted based
on the difference between the book value of net assets obtained from business combination and the
book value of the paid price for the combination (or the total nominal value of issued shares). And in
case that the capital surplus was less than the write-offs, the retained earnings should be adjusted.
All the direct costs paid by the Company for the conduct of business combination, including audit fees,
appraisal fees, legal services, etc., should be accounted into current profit and loss at the time incurred.
The fees, commission, etc., occurred during the issuance of equity securities for the business
combination should offset the premium income. In case that the premium income was less than write-
downs, the retained earnings should be recorded for reduction.
If the accounting policies adopted by the merged parties are inconsistent with those of the Company,
the Company can make adjustment in accordance with its accounting policies on the date of
combination, and confirm them in accordance with the Accounting Standards for Enterprises
confirmation.
2.5.2 Not under the same controller
The company accounts the assets and liabilities paid as price for the business combination at their fair
value on the date of acquisition. The difference between the fair value and the book should be included
in current profit and loss.
The company allocates the merger costs on the date of acquisition.
The Company recognize as goodwill the difference of the combination costs more than the fair value of
the identifiable net assets obtained from the merged parties, and accounts into current profit and loss
the difference of the fair value of the identifiable net assets obtained from the merged parties than the
combination costs.
All the other assets except intangible assets (not limited to the identified assets originally belonged to
the merged parties), whose economic benefits are likely to flow to the company and whose fair value
can be reliably measured, should be accounted separately at their fair value; the intangible assets whose
fair value can be reliably measured should be recognized separately as intangible assets and accounted
at their fair value; all the other liabilities except contingent liabilities, whose fulfillment is likely to lead
to outflow of economic benefits of the Company and whose fair value can be reliably measured, should
be accounted separately at their fair value; the contingent liabilities obtained from the merged parties
whose fair value can be reliably measured, should be recognized separately as liabilities and accounted
at their fair value.
2.6 Preparation of the consolidated financial statements
The consolidation scope of the Company's financial statements has the real control as basis, and all
subsidiaries are included in the consolidated financial statements.
All the consolidated subsidiaries adopt the same accounting policies and accounting period. In case
SGSB GROUP CO.,LTD 2012 Interim Report
that the subsidiary's accounting policies and accounting period are inconsistent with those of the
Company, the inconsistent elements should be adjusted according to the company's accounting policies
and accounting period.
The Company prepares the consolidated financial statements based on the financial statements of the
Company itself and of its subsidiaries, with adoption of other relevant information, and after necessary
adjustments based on equity method.
There should be offset the influence of the internal transactions between the Company and its
subsidiaries, the subsidiaries themselves upon the consolidated balance sheet, consolidated income
statement, consolidated cash flow statement, and consolidated owner's equity sheet.
If the current-period loss for minority shareholders of the subsidiaries is more than the beginning
balance of the minority interests, the owner's equity of the Company should be offset when the Articles
of Association or any other agreements haven’t shown that the minority shareholders should fulfill the
obligation; or the minority shareholders should pay for the difference when the Articles of Association
or any agreements share have fixed the obligation for them.
During the report period, for those subsidiaries newly absorbed by business combination under the
same controller, the Company should adjust the beginning balance of the consolidated balance sheet;
include the current-period income, expenses and profits of the subsidiaries into the consolidated profit
and loss statement; and include the current-period cash flow of the subsidiaries into the consolidated
cash flow statement.
During the report period, for those subsidiaries newly absorbed by business combination not under the
same controller, the Company should not adjust the beginning balance of the consolidated balance
sheet; include the income, expenses and profits of the subsidiaries from the acquisition date to the
period-end into the consolidated profit and loss statement; and include the cash flow of the subsidiaries
from the acquisition date to the period-end into the consolidated cash flow statement.
During the report period, on disposal of subsidiaries, the Company should incorporate the income,
expenses and profits of the subsidiaries from the period-beginning to the disposal date into the
consolidated profit and loss statement; and incorporate the cash flow of the subsidiaries from the
period-beginning to the disposal date into the consolidated cash flow statement.
2.7 Criteria for the definition of cash and cash equivalent
For the purpose of the cash flow statement, cash represents the cash on hand and ready for payment in
cash deposits of the Company, 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.
2.8 Foreign currency calculation and translation of financial statements in foreign currency
2.8.1 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.
SGSB GROUP CO.,LTD 2012 Interim Report
2.8.2 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, are
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.
2.9 Financial instruments
Financial instruments consist of financial assets, financial liabilities and equity instruments.
2.9.1 Classification of financial instruments
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.
2.9.2 Definition and measurement of financial instruments
2.9.2.1 Financial assets and liabilities at fair value and accounted into current profits and losses
The fair value (after deduction of 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 at the end of period.
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.
2.9.2.2 Held to maturity investments
The fair value (after deduction of bond interests whose period has matured but not charged yet) plus the
related transactions fees should be adopted as initial recognized value.
During the holding period, the interest income should be confirmed and included into investment
income in accordance with the amortized costs and the real interest rate (according to nominal interest
rates if the difference between the real interest rate and the nominal interest rate is small). The real
interest rate should be determined at the time made, and remain unchanged during the expected
duration or applicable shorter period.
On disposal of these investments, the difference between the income from investment and the book
value of investment should be accounted into investment income.
2.9.2.3 Receivable accounts
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. If characterized as financing activities, the initial recognition
should be priced at present value.
SGSB GROUP CO.,LTD 2012 Interim Report
The differences between sale value and book value should be accounted into current profits and losses
on its recovery or disposal.
2.9.2.4 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.
2.9.2.5 Other financial liabilities
The Company adopts the fair value and relevant transaction expenses as initial recognized value and
takes amortized cost for subsequent measurement.
2.9.3 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:
2.9.3.1 The book value of the transferred financial asset;
2.9.3.2 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 book value 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.
2.9.4 Conditions for derecognizing financial liabilities
If the current obligations of financial liabilities has been lifted in whole or in part, then the Company
should derecognize the financial liabilities in whole or in part thereof; if the Company signs an
agreement with creditors in order to take on new ways to replace the existing financial liabilities, and
the new liabilities and the existing financial terms are substantially different, the Company should
terminate recognizing the existing financial liabilities, and begin to recognize the new financial
liabilities at the same time.
If the terms of the contract involving the existing financial liabilities have been made with substantive
SGSB GROUP CO.,LTD 2012 Interim Report
changes in whole or in part, the Company should terminate recognizing the existing financial liabilities
in whole or in part, and at the same time, adopt the modified version of financial liabilities as a new one.
On derecognizing the financial liabilities in whole or in part, the difference between the book value of
these financial liabilities and the payment should be accounted into current profits and losses.
If buying back part of the financial liabilities, on the date of repurchase and in accordance with the
comparative fair value of the part to be continuously recognized and to be derecognized, the Company
should allocate the whole financial liabilities. The difference between the part assigned to the
derecognized book value and the payment (including the roll-out of non-cash assets or new financial
liabilities to be assumed) should be included into current-period profits and losses.
2.9.5 Definition of fair value of financial assets and liabilities
The Company adopts the year-end quotations in active markets as fair value of financial assets and
liabilities.
2.9.6 Depreciation reserves for financial assets (excluding accounts receivable)
2.9.6.1 Depreciation reserves for financial assets available for sale
At end of report year, 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.
2.9.6.2 Depreciation reserves for held to maturity investments
The impairment loss of held to maturity investments is calculated in the light of the treatment of
accounts receivable’s depreciation.
2.10 Accounts receivable
2.10.1 Recognition and accruement of provision for bad debt in accounts receivable of individually
significant amount
2.10.1.1 Recognition criteria of provision for bad debt in accounts receivable of individually significant
amount
The accounts receivable of individually significant amount refer to the top five accounts receivable
with significant amount.
2.10.1.2 Accruement of provision for bad debt in accounts receivable of individually significant
amount
The Company takes individual depreciation test for those significant receivable accounts, and
determines the impairment loss and makes provision for bad debts based on the difference between
their future cash flow value and book value.
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.
2.10.2 Recognition and accruement of provision for bad debt in accounts receivable of insignificant
amount but whose package is characterized as highly risky credit portfolio
2.10.2.1 Definition of highly risky credit risk portfolio
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.
2.10.2.2 Accruement based on highly risky credit risk portfolio
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 Provision proportion for accounts receivable (%) Provision proportion for other receivables (%)
SGSB GROUP CO.,LTD 2012 Interim Report
Within one year 5 5
1-2 years 20 20
2-3 years 50 50
Over 3 years 100 100
2.11 Inventories
2.11.1 Classification of inventories
The inventories of the Company comprise: materials in transit, raw materials, turnover materials,
inventory products, work in progress, finished products, material in outside processing, etc.
2.11.2 Inventory pricing method on their delivery
Inventory products are accounted with weighted average method on their delivery.
2.11.3 Determination of net realizable value of inventories and accruement of stock depreciation
provision
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 year, the Company accrues separately the provisions 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 provision 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.
2.11.4 Inventory system
The Company adopts perpetual inventory system to take periodic or non-periodic inventory
checkup.
2.11.5 Provision for depreciation reserves of inventories
2.11.5.1 Inventory products are accounted with weighted average method on their delivery.
2.11.5.2 The amortization treatment of packing materials adopts one-off amortization method.
2.12 Long-term equity investment
2.12.1 Initial measurement
2.12.1.1 Long-term equity investment formed in 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.
SGSB GROUP CO.,LTD 2012 Interim Report
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.
2.12.1.2 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.
2.12.2 Subsequent measurement and recognition of profits and losses
2.12.2.1 Subsequent measurement
For a long term equity investment on the subsidiary company of an investing enterprise, the investing
enterprise shall accounted by employing the cost method, 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. 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.
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.
2.12.2.2 Recognition of profits and losses
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.
SGSB GROUP CO.,LTD 2012 Interim Report
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.
2.12.3 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.
2.12.4 Impairment testing methods and impairment accrual method
For those long-term equity investments characterized with significant impact, not quoted in active
markets, and whose fair value can’t be reliably measured, the impairment loss is determined on basis of
the difference between their book value and the present value of similar financial assets whose market
rate of return on future cash flows can be discounted.
For those long-term equity investments, except the long- goodwill formed from business combination,
if the recoverable amount of the measurement results show that the recoverable amount of the long-
term equity investment below its book value, the difference will be recognized as impairment loss.
For goodwill formed by business combination, regardless of whether there is indication of impairment,
there should be conducted annual impairment testing.
The impairment loss of long-term equity investments can’t be returned back after the recognition.
2.13 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 land
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.
The impairment loss of investment real estate can’t be returned back after the recognition.
2.14 Calculation and depreciation of fixed assets
2.14.1 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:
SGSB GROUP CO.,LTD 2012 Interim Report
(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.
2.14.2 Impairment method of fixed assets
The provision for decrease in value of fixed assets 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:
Category 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%
2.14.3 Testing method and provision for depreciation of fixed assets
The Company determines whether there is evidence of impairment that may occur upon fixed assets at
end of each period.
If there is indication of impairment of fixed assets, the Company should estimate its recoverable
amount. The recoverable amount is to be determined by the higher between the net price of the fair
value of fixed assets after subtracting costs of disposal and the present value of expected future cash
flows from fixed assets.
When the recoverable amount of fixed assets is below their book value, the book value of fixed assets
should be written down to its recoverable amount, and the amount of write-down should recognized as
impairment loss of fixed assets, and included into current profits and losses. At the same time, the
provision for depreciation of fixed assets should be accrued.
After the recognition of impairment losses of fixed assets, the depreciation of fixed assets for
impairment should be accordingly adjusted in future periods so that during the remaining useful life of
the fixed assets, the book value of adjusted fixed assets can be systematically amortized (less the
estimated net residual value).
After the recognition, the impairment loss of fixed assets shouldn’t be recovered in subsequent
accounting period.
If there are indications showing that a possible impairment of fixed assets could take place, the
Company should estimate its recoverable amount based on individual fixed assets. If difficult to do so,
the Company should determine the recoverable amount of the assets group on basis of the asset groups
to which the fixed assets belong.
2.15 Accounting of construction in progress
2.15.1 Category of construction in progress
The Company distinguishes the characteristics of each construction in progress in their real cost
accounting.
2.15.2 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.
SGSB GROUP CO.,LTD 2012 Interim Report
2.15.3 Testing method and provision for depreciation of construction in progress
The Company determines whether there is evidence of impairment that may occur upon construction in
progress at end of each period.
If there is indication of impairment of construction in progress, the Company should estimate its
recoverable amount. The recoverable amount is to be determined by the higher between the net
price of the fair value of construction in progress after subtracting costs of disposal and the present
value of expected future cash flows from construction in progress.
When the recoverable amount of construction in progress is below their book value, the book
value of construction in progress should be written down to its recoverable amount, and the
amount of write-down should recognized as impairment loss of construction in progress, and
included into current profits and losses. At the same time, the provision for depreciation of
construction in progress should be accrued.
After the recognition, the impairment loss of construction in progress shouldn’t be recovered in
subsequent accounting period.
If there are indications showing that a possible impairment of certain construction in progress
could take place, the Company should estimate its recoverable amount based on individual
construction. If difficult to do so, the Company should determine the recoverable amount of the
assets group on basis of the asset groups to which the construction in progress belongs.
2.16 Capitalization of the loan fees
2.16.1 Definition of capitalization of the loan fees
Where the borrowing costs incurred to the Company 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.
2.16.2 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.
When the assets of acquisition and construction or production are available for their intended use or
marketable condition, the capitalization of loans goes to the end.
When certain part of the assets of acquisition and construction or production is separately completed
and available for its intended use, the capitalization of loans for this part of assets goes to the end.
If different parts of the assets of acquisition and construction or production are separately completed,
but they could be available for their intended use or marketable condition only after the completion of
the construction in whole, the capitalization of loans goes to the end after the whole completion.
2.16.3 Suspension of capitalization period
SGSB GROUP CO.,LTD 2012 Interim Report
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. Where the interrupted acquisition and construction or production of the qualified asset is
available for intended use or marketable condition, the capitalization of loans should reinitiate. The
borrowings occurred during the suspension period should be determined as current-period profits and
losses, and the capitalization will not reinitiate until the reactivation of the interrupted acquisition and
construction or production of the qualified asset.
2.16.4 Calculation of capitalized loan fees
The to-be-capitalized amount of interests of the specially borrowed loans (minus the income of the
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 asset
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 Company 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.
2.17 Calculation of intangible assets
2.17.1 Pricing of intangible assets
2.17.1.1 The Company accounts its intangible assets at their real acquisition 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
SGSB GROUP CO.,LTD 2012 Interim Report
development process, and other direct expenses for making the intangible assets available to its
intended use.
2.17.1.2 Subsequent measurement
The Company analyzes the service life of the acquired intangible assets.
For the intangible assets with limited service life, the economic benefits should be amortized with
straight-line method; for the intangible assets whose service life of economic benefits can’t be
predicted, the Company defines them as intangible assets with indefinite service life and won’t adopt
amortization upon them.
2.17.2 Estimate of service life for the intangible assets with limited life
Classification 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.
2.17.3 Provision for depreciation of intangible assets
For the intangible assets with definite service life, the Company practices the impairment testing at end
of period when there is obvious indications of impairment.
For the intangible assets with uncertain service life, impairment testing should be realized at the end of
each period.
With the impairment testing, the Company estimates the recoverable amount of intangible assets. The
recoverable amount of intangible assets represents the higher between the net fair value of intangible
assets less disposal fees and the present value of estimated future cash flow of intangible assets.
When the recoverable amount of intangible assets is less than their book value, the book value of
intangible assets should be written down to its recoverable amount, and the amount of write-down is
recognized as an intangible asset impairment losses, included in current profits and losses, and the
corresponding provision for depreciation should be accrued at the same time.
After the recognition of impairment losses of intangible assets, the Company should adjust accordingly
the depletion or amortization costs in future periods, so that during the remaining useful life, the
adjusted book value of intangible assets (less estimated net residual value) can be systematically
amortized.
The impairment losses of intangible assets will not be recovered in subsequent accounting periods after
the recognition.
If there are indications of a possible impairment of intangible assets, the company should estimate the
recoverable amount based on the individual intangible assets. In case that it’s difficult to estimate the
recoverable amount of the individual intangible assets, the Company determines their recoverable
amount based on the assets group to which the individual intangible assets belong.
2.17.4 Criteria for the division of research stage and development stage during internal R&D
Research stage: the stage during which original and planned investigation and research is carried out
with purpose of obtaining and understanding new scientific or technical knowledge
Development stage: the stage before the commercial production and utilization, during which the
research achievement or other knowledge is applied to a particular project or design in order to produce
new or substantially improved materials, devices, products, etc.
The expenses occurred during the research stage of internal R&D projects are accounted into current-
period profits and losses.
2.17.5 Criteria for the capitalization of R&D expenses
SGSB GROUP CO.,LTD 2012 Interim Report
The expenses during the development stage of internal R&D projects are 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.
2.18 Payment to and for staff
2.18.1 Classification of payment to and for staff
The company's payment to and for staff is composed of wages, bonuses, allowances and subsidies;
employees’ benefits; medical insurance, pension insurance, unemployment insurance, work injury
insurance, maternity insurance and other social insurance premiums; housing provident funds; union
funds and employee education funding; non-monetary benefits; result of the dissolution of labor
relations with the staff for their compensation (termination benefits), etc.
2.18.2 Definition and calculation of payment to and for staff
The Company treats as liabilities the payment to and for staff during the periods in which the workers
provide services, and except the compensation for lifting the labor relations, treats respectively the
earning targets under the following circumstances:
(1) that should be carried by the production of goods and labor services, accounted into production or
labor service cost;
(2) that should be carried by the construction in progress and intangible assets, accounted into cost for
construction of fixed assets or intangible assets;
(3) except the above-mentioned remuneration, directly charged into current profits and losses.
If the State has stipulations about the accrual ratio of payment to and for staff, the Company adopts
these stipulations as guideline of accrual. If the State hasn’t such regulations, the Company estimates
the payment to and for staff from past experience and actual situation, in case that the real cost is more
or less than the estimated cost, the Company will supplement or return back the reserves.
If the company offers to its staff the self-owned products or housing, or rents free-of-charge the houses
for its staff, it should account respectively in accordance with the fair value of products, depreciation or
rent of each house, into self-production cost or current profits and losses dependent to the beneficial
objects.
2.18.3 Termination benefits
The company should determine the payment to and for staff and account into current profits and losses
according to its formal written plan or proposal that can’t be withdrawn unilaterally (including the
department, quantity, compensation standards, implementation time, etc.), in case that the Company
proposes a compensation for anticipating the termination of labor contract or encouraging the staff to
voluntarily cancel the contract.
For the voluntary layoff cases, the Company should estimate the quantity of employees accepting
layoffs, and accrue payable for staff according to the quantity and standards of compensation and in
line with the articles in "Accounting Standards for Enterprises No. 13 --- Contingent Items".
2.19 Debt reorganization
SGSB GROUP CO.,LTD 2012 Interim Report
During report period, the Company determines the debt reorganization respectively under the following
circumstances:
2.19.1 The Company accounts the difference between the book value of reorganized debts and the
really payable cash into current profits and losses in case of cash settlement of debt.
2.19.2 The Company accounts the difference between the book value of reorganized debts and the
fair value of transferred non-cash assets into current profits and losses in case of covering the debts
with non-cash assets. And the difference between fair value and book value of transferred non-cash
assets also should be accounted into current profits and losses.
2.19.3 In case of conversion of debts into capital, the Company recognizes as capital (or paid-up
capital) the total facial value of the equity converted from the abandoned claims of creditors, and the
difference between fair value of equity and capital (or paid-up capital) should be determined as capital
reserves. The difference between book value of reorganized debts and the fair value of equity should
be included into current profits and losses.
2.19.4 On modification of other conditions about debts, the Company will adopt the fair value of
debts after modification as book value of reorganized debts. The difference between the book value of
reorganized debts and the book value after the reorganization will be accounted into current profits and
losses.
2.19.5 In case that the revised terms of debt is related to contingent payable, and such contingent
payable meets the conditions for confirming contingent liabilities in "Accounting Standards for
Enterprises No. 13 – Contingent Items", the Company should recognize as contingent liabilities such
contingent payable. The difference between the book value of reorganized debts and the book value
after reorganization plus the sum of contingent liabilities should be included into current profits and
losses. The contingent payable refers to the payable for the future situations whose occurrence is
considered with uncertainty.
2.19.6 When the debt reorganization is carried out with a combined package of cash settlement,
payment with non-cash assets, debt to capital, and modification of debts’ conditions, the Company will
write-off the book value of the reorganized debts in order of cash, non-cash assets, and fair value of
equity by creditors, and at last, treat them with the revised terms of debt.
2.20 Contingent liabilities
The company recognizes as contingent liabilities those matters involving the Company in litigation,
debt guarantees, loss of contracts and reconstruction, which are likely to require the Company to
deliver assets or provide services in future, and whose amount can be reliably measured.
2.20.1 Criteria of contingent liabilities
The obligations related to contingent items are defined as contingent liabilities when satisfying the
following conditions:
This obligation means a present obligation for the Company;
The fulfillment of this obligation is likely to lead to outflow of economic benefits of the Company;
The amount of this obligation can be reliably measured.
2.20.2 Measurement of contingent liabilities
The company accounts for initial measurement of contingent liabilities the best estimated amount of
expenditure to fulfill the related current obligations.
On defining the best estimated amount, the Company considers integrally the factors of risk,
uncertainty and currency related to contingent items. For the significant influence of currency’s time
value, the Company determines the best estimated amount through the discount of future cash outflows.
The best estimated amount is treated separately under the following circumstances:
There is a continuous range (or scope)of required expenditure among which the possibility for
occurring different results maintains the same, the best estimated amount should be defined by the
SGSB GROUP CO.,LTD 2012 Interim Report
median, which means the average amount of upper and lower limits of the continuous range.
If it doesn’t exist a continuous range (or scope), or within the continuous range the possibility for
occurring different cases result in different situations, the best estimated amount should be defined by
the most possibly occurred amount when the contingent items are related to individual project, and be
defined by the combination of different possible results and their probabilities.
2.21 Revenue recognition
2.21.1 Criteria for the time definition of income from 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.
2.21.2 Basis for determining the income from transferring the right to use assets
When the economic benefits related to the transaction will be likely to flow to the Company and the
income amount can be reliably calculated. The treatment will be different in the following conditions:
2.21.2.1 The income of interests is determined on basis of the time and real interest rate of the
Company’s cash funds which is utilized by other persons.
2.21.2.2 The income of royalties is determined on basis of the chargeable time and method fixed in
relevant agreement or contract.
2.21.3 Basis and method to define the progress of contracted construction on determining the income
from rendering of labor services through percentage-of-completion method
If the Company 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.
The Company determines the total revenue from labor services in accordance with the received or
receivable purchase price fixed by contract or agreement, except when the price is unfair. On balance
sheet date, the Company confirms current-period labor services income according to the total revenue
of labor services multiplied by the percentage of completion and less the accumulated determined
services revenues in previous periods. At the same time, the Company confirms current-period labor
services expenditure according to the total cost of labor services multiplied by the percentage of
completion and less the accumulated determined services expenditure in previous periods.
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.
2.22 Government subsidies
2.22.1 Divisions of government subsidies
SGSB GROUP CO.,LTD 2012 Interim Report
Government subsidies refer to the monetary and non-monetary assets that the company obtains free-of-
charge from the Government. They are divided into asset-related government subsidies and benefit-
related government subsidies.
2.22.2 Treatment of government subsidies
The government subsidies related to long-term assets such as acquisition & construction of fixed assets
and intangible assets are determined as deferred income, and accounted into corresponding-period non-
operating income according to the service life of the acquisition & construction assets.
The government subsidies related to economic benefits, if for covering the relevant expenses or losses
in future periods, are determined as deferred income and accounted into current-period non-operating
income; if for covering the occurred expenses or losses in the past, are included directly into current-
period non-operating income.
2.23 Deferred income tax assets and liabilities
2.23.1 Basis for the determination of deferred income tax assets
The enterprise shall recognize the deferred income tax assets caused by deductible temporary
differences under the limits of the taxable income which is likely to obtain for deducting the deductible
temporary differences.
2.23.2 Basis for the determination of deferred income tax liabilities
The Company recognizes as deferred income tax liabilities the taxable temporary differences in current
and previous periods. However, the goodwill, transactions not formed from business combination and
whose occurrence will not impact accounting profits nor the taxable income or temporary differences
of deductible losses should not be included.
2.24 Changes in accounting policies and estimates
2.24.1 Changes in accounting policies
There are no changes in accounting policies for current period.
2.24.2 Changes in accounting estimates
There are no changes in accounting estimates for current period.
2.25 Correction of accounting errors in previous periods
2.25.1 Retroactive restatement method
At the end of period, there are no accounting errors in previous periods adopting retroactive restatement
method.
2.25.2 Prospective recognition method
At the end of period, there are no accounting errors in previous periods adopting prospective
recognition method.
3. Taxation
Important taxes and tax rates
Type Tax bases Tax rate
V.A.T. Sales turnover 17%
Business tax Business turnover 5%
Income tax Taxable income 25%
Note: the overseas subsidiaries employ the tax rates according to their countries’ tax law.
SGSB GROUP CO.,LTD 2012 Interim Report
4. Merger of enterprises and consolidated of financial statements
Except specially noted, the monetary unit in this chapter is RMB’000.
4.1 About the subsidiaries
4.1.1 Subsidiaries acquired through foundation or investment
Invested entity
Type
Register place
Classification
Register capital
Business scope
Other net investment
Equity proportion %
Voting share %
Consolidated or not
Minority interests
minority interests
Write-down of
owners’ equity
Write-down of
Real investment at
year end
Durkopp Adler Imp. & Wholesale, 40 74 Ye
subsidiary
Holding
Shanghai
8,646.0
1,891.9
USD4,000,000
USD1,600,000
USD1,360,000
Trading Exp. of broker and s
Shanghai Co. sewing Imp. & Exp.
machines of sewing
machines
Shanghai Sewing 12,000 Production 8,400 2,400 70 90 Ye
subsidiary
Holding
Shanghai
215.
Shuangchong machines, and s
Sewing etc. development
Machines Co. of overlock
sewing
machines
Shanghai sewing 79,000 M&E 79,000 100 100 Ye
subsidiary
owned
Wholly-
Shanghai
5,929.4
389.3
Shanggong machines products and s
Butterfly instruments
Sewing
Machine. Co.
Shanghai Real estate 13,000 Real estate 8,970 69 69 Ye
subsidiary
Holding
Shanghai
4964.46
7.2
Suoying Real developme development s
Estate Co. nt
Shanggong Sewing Sewing 100 100 Ye
EUR22,500,000
EUR22,500,000
subsidiary
owned
Wholly-
Germany
10,485.77
18,928.9
(Europe) machines, machines, s
Holding Co. etc. etc.
Shanghai Sewing 4,650 Sales of 4,650 100 100 No
subsidiary
Wholly-owned
Shanghai
Industrial machines, sewing
Sewing etc. machines and
Machines components
Materials
General Co.
Shanghai Assets 5,000 Assets 5,000 100 100 Ye
subsidiary
Wholly-owned
Shanghai
Shanggong Manageme management, s
Shen Bei Assets nt etc. investment
Management management,
Co. company
management
etc.
4.1.2 Subsidiaries acquired in business combinations under the same control
Invested entity
Type
Register place
Classification
Register capital
Business scope
Other net investment
Equity proportion %
Voting share %
Consolidated or not
Minority interests
minority interests
Write-down of
owners’ equity
Write-down of
Real investment at
year end
SGSB GROUP CO.,LTD 2012 Interim Report
SMPIC Property 8,620 Free Trade 8,620 100 100 Ye
subsidiary
Wholly-owned
Shanghai
Waigaoqiao manageme Zone s
Office Appa. nt Warehousing
Co., Ltd.
1,000
SMPIC Imp. & Imp. & 5,000 International 4,000 80 100 Ye
subsidiary
Holding
Shanghai
Exp. Co., Ltd. exp. of trading of s
office merchants
apparatus and
technology
4.2 Changes in the consolidation of financial statements
4.2.1 In comparison with the last year, there is no added subsidiaries.
4.2.2 In comparison with the last year, reduced one subsidiaries. The reason is that during the current
period the Company transferred its equity in the subsidiary Duerkopp Adler Manufacturing (Shanghai)
Co.,Ltd. to another subsidiary Duerkopp Adler Trading (Shanghai) CO.,Ltd, and put it into third
subsidiary accounting.
4.3 Newly included and excluded subsidiaries in current period
4.3.1 Currently included subsidiaries, specific objects, business entities under control for entrust or
rent operation: No
4.3.2 Currently excluded subsidiaries, specific objects, business entities under control for entrust or
rent operation: No
4.4 Currency translation of overseas operations’ principal accounting items
The subsidiary Shanggong (Europe) Holding Co., Ltd. has Euros as the recording currency, so the
Company adopts the following currency translation and treatment method: for assets and liabilities in
balance sheet, the end-of-period exchange rate is 7.871, and beginning-of-period rate is 8.1625; for
income and costs in profit statement, current-period exchange rate is 7.871, and anterior-period rate is
9.3612; for all the items in owners’ equity, except "undistributed profits", the exchange rate is the spot
rate; and the difference of translation of financial statements is listed separately in balance sheet.
5. Important notes for consolidated financial statements
(All the following items adopt RMB’ and year-end data except those specially indicated.)
5.1 Cash and bank
Period-end Year-beginning
Item Original Exchange rate Amount to Original Exchange rate Amount to
currency RMB currency RMB
Cash
Renminbi 423,103.70 516,566.95
HKD 3,463.10 0.8152 2,823.12 32,709.72 0.8107 26,517.77
EUR 4.00 6.3249 25.30
Subtotal cash 48,605.80 7.871 382,576.25 5,741.15 8.1625 46,862.14
Bank
Renminbi
HKD 153,528,969.89 182,432,179.84
JPY 1,268,478.92 0.8152 1,034,064.02 1,608,398.48 0.8107 1,303,928.65
USD 659,329.37 6.3249 4,170,192.33 1,151,113.06 6.3009 7,253,048.28
EUR 26,590,831.73 7.871 209,296,436.55 21,096,040.04 8.1625 172,196,426.83
Subtotal bank 368,029,662.79 363,185,583.60
SGSB GROUP CO.,LTD 2012 Interim Report
Other money-capitals
Renminbi 2,453,885.37 1,226,521.10
Subtotal other money-
2,453,885.37 1,226,521.10
capitals
Total 371,292,076.53 365,002,051.56
Accounts with limited cashability: .
Item Period-end Year-beginning Note
credit line guaranty 984,764.42 1,034,433.63 Note 1
deposit certificate for guranty 5,301,212.96 5,497,541.70 Note 2
Total 6,285,977.38 6,531,975.33
Note 1: The credit line guaranty of EUR 125,113.00 of Shanggong (Europe) Holding Co., Ltd. has
been mortgaged to Deutsche Bank, which amounts to RMB 984,764.42.
Note 2: The time certificate of EUR 673,512.00 of Shanggong (Europe) Holding Co., Ltd has been
mortgaged to FAG, which amounts to RMB 5,301,212.96.
5.2 Trading financial assets
5.2.1 Trading financial assets
Period-end fair value Year-beginning fair value
Tradable bonds
Tradable equity instruments 466,877.00 528,153.00
Financial assets designated for
accounting at fair value and
included into current-period profits
and losses
Derivatives
Others 279,962.87 265,489.16
Total 746,839.87 793,642.16
5.2.2 Trading financial assets with limitation for cash realization at period end: None.
5.3 Bills receivable
5.3.1 Classification of bill receivable
Type Period-end Year-beginning
Bank acceptance 6,755,087.12 3,041,439.20
Commercial acceptance 400,000.00
Total 6,755,087.12 3,441,439.20
5.3.2 Bill receivable which has been mortgaged at period end: None.
5.3.3 Bill which has been converted to account receivables due to inability to fulfill the obligation, and
bill which has been endorsed to other party at period end but not yet due: None
5.4 Dividend receivable
Item Year- Current Current Period-end Reason for Depreciation
beginning increase decrease receivable or not
Dividend receivable with age less than one year 638,783.61 638,783.61 No
Including: Shanghai SHENSY Logistics
638,783.61 638,783.61
Development Co.,LTd
Total 638,783.61 638,783.61
5.5 Accounts receivable
SGSB GROUP CO.,LTD 2012 Interim Report
5.5.1 Composition of accounts receivable
Period-end Year-beginning
Provision Provision for Provision
Type Prop. Provision for Prop.
Balance Balance bad
(%) bad debts for bad (%) for bad
debts/prop.
debts/prop. debts/prop.
Accounts
receivable with
26,037,268.00 7.24 26,037,268.00 100.00 37,571,987.50 12.64 27,001,550.00 71.87
significant
individual amount
Accounts
receivable with
insignificant
195,727,957.50 54.40 101,096,833.48 51.65 167,901,963.91 56.50 100,210,033.02 59.68
individual amounts
but characterized as
risky portfolio
Other insignificant
138,000,759.38 38.36 8,331,934.97 6.04 91,696,628.21 30.86 7,386,280.95 8.06
accounts receivable
Total 359,765,984.88 100.00 135,466,036.45 297,170,579.62 100.00 134,597,863.97
Clarification for Composition of accounts receivable
Accounts receivable with significant individual amount and with individual provision for bad debt
Accounts receivable Book value Provision Accrual proportion (%) Reason
No. 1 client 26,037,268.00 26,037,268.00 100.00 Credit period expired
Total 26,037,268.00 26,037,268.00
Note: This item mainly refers to the accounts receivable of Shanggong (Europe) Holding Co., Ltd.,
which should receive individual impairment testing.
Accounts receivable which use aging analysis for bad debt provision in the composition
Age Period-end Year- beginning
Balance Provision Balance Provision
Sum Proportion (%) Sum Proportion (%)
Within 1 year 93,238,869.82 47.64 4,661,943.49 65,746,059.74 39.16 3,287,302.97
1—2 years 6,508,473.00 3.32 1,301,694.60 5,416,174.06 3.23 1,083,234.80
2—3 years 1,694,838.58 0.87 847,419.29 1,800,469.76 1.07 900,234.90
Over 3 years 94,285,776.10 48.17 94,285,776.10 94,939,260.35 56.54 94,939,260.35
Total 195,727,957.50 100.00 101,096,833.48 167,901,963.91 100.00 100,210,033.02
End-of-period provision for bad debts of accounts receivable with insignificant individual amount
Accounts receivable Book value Provision Accrual proportion (%) Reason
Other insignificant receivables (note1) 2,150,000.00 2,150,000.00 100.00 Credit period expired
Other insignificant receivables (note2) 135,850,759.38 6,181,934.96 4.55
Total 138,000,759.38 8,331,934.96
SGSB GROUP CO.,LTD 2012 Interim Report
Note1 : This item mainly refers to the accounts receivable of Duerkopp Adler Trading (Shanghai) Co.,
Ltd., which should receive individual impairment testing.
Note 2: This item mainly refers to the accounts receivable of Shanggong (Europe) Holding Co., Ltd.,
which should receive individual impairment testing
5.5.2 The accounts receivable actually written off in this report period
None.
5.5.3 Among the period-end accounts receivable, there are no obligators who holds individually 5%
or more equity of the Company.
5.5.4 Top five accounts receivable
Entity or rank Relation with the Sum Duration Proportion in total
Company accounts receivable (%)
No.1 client Third party 26,037,268.00 over 2-3 years 7.24
No.2 client Third party 11,530,775.39 over 3 years 3.21
No.3 client Third party 10,209,462.90 Within 1 year 2.84
No.4 client Third party 7,480,189.67 over 3 years 2.08
No.5 client Third party 7,234,606.86 over 3 years 2.01
Total 62,492,302.82 17.38
5.5.5 Among the period-end accounts receivables, those from affiliated parties shall be seen in 6.5
6. Other receivables
6.1.1 Composition of other receivables
Period-end Year-beginning
Balance Provision Balance Prrovision
Sum Prop. (%) Sum Prop. (%) Sum Prop.(%) Sum Prpp. (%)
Other receivable with
29,644,129.65 43.47 9,424,116.30 31.79 26,326,764.69 40.70 9,032,227.24 34.31
significant individual amount
Other receivable with
insignificant individual 36,159,447.84 31,407,225.14
36,607,950.99 53.68 31,416,169.71 85.82 55.90 86.86
amounts but characterized as
risky portfolio
Other insignificant other
1,940,325.63 2.85 2,195,527.86 3.40
receivable
Total 68,192,406.27 100.00 40,840,286.01 64,681,740.39 100.00 40,439,452.38
Clarification for Composition of other accounts receivable
Other accounts receivable with significant individual amount and with individual provision for bad
debt
Other accounts receivable Book value Provision Accrual proportion (%) Reason
Export tax rebate (note 1) Non-impairment in
17,515,449.36
individual testing
VAT receivable (note 2 ) Non-impairment in
2,704,563.99
individual testing
No. 2 Client 9,424,116.30 9,424,116.30 100.00
Total 29,644,129.65 9,424,116.30
Note1 : This item mainly refers to the export tax rebate receivable of subsidiaries in export sales.
SGSB GROUP CO.,LTD 2012 Interim Report
Note 2: This item mainly refers to the VAT receivables of Shanggong (Europe) Holding Co., Ltd.,
with non-impairment in individual testing.
Other accounts receivable which use aging analysis for bad debt provision in the composition
Age Period-end Year- beginning
Balance Provision Balance Provision
Sum Proportion (%) Sum Proportion (%)
Within 1 year 3,580,039.59 9.78 179,001.99 3,436,422.54 9.50 171,821.12
1—2 years 1,906,363.99 5.21 381,272.80 1,504,786.07 4.16 300,957.21
2—3 years 531,304.99 1.45 265,652.50 567,584.85 1.57 283,792.43
Over 3 years 30,590,242.42 83.56 30,590,242.42 30,650,654.38 84.77 30,650,654.38
Total 36,607,950.99 100.00 31,416,169.71 36,159,447.84 100.00 31,407,225.14
End-of-period provision for bad debts of other accounts receivable with insignificant individual amount
Accounts receivable Book value Provision Accrual proportion (%) Reason
Other insignificant receivables 1,940,325.63 Credit period expired
Total 1,940,325.63
Note: This item mainly refers to the accounts receivable of Shanggong (Europe) Holding Co., Ltd.,
which should receive individual impairment testing.
6.1.2 Other accounts receivable actually written off in this report period: None
6.1.3 Among the period-end other receivables, there are no obligators who holds individually 5% or
more equity of the Company.
6.1.4 Top five other receivables
Entity or rank Relation with the Sum Duration Proportion in total other Contents
Company receivables (%)
17,515,449.36 25.69 VAT receivable
No.1 Third party Within 1 year
9,424,116.30 13.82 Current account
No.2 Third party Within 1 year
2,704,563.99 3.97 Export tax rebate
No.3 Third party over 3 years
2,000,000.00 2.93 Current account
No.4 Third party Within 1 year
1,821,909.70 2.67 Current account
No.5 Third party Within 3 years
Total 33,466,039.35 49.08
7. Prepayments
7.1.1 Analysis of age
Period-end Year-beginning
Age distribution Balance Proportion (%) Balance Proportion (%)
Within 1 year 21,183,203.65 98.48 16,846,532.44 92.37
1—2 years 30,426.00 0.14 956,509.01 5.24
2—3 years 238,427.64 1.11 342,664.34 1.88
Over 3 years 58,593.43 0.27 93,242.64 0.51
Total 21,510,650.72 100.00 18,238,948.43 100.00
7.1.2 Top five prepayments
Entity or rank Relation with the Sum Duration Contents
Company
Not reaching contracted delivery date
No.1 client Third party 3,526,689.76 Within 1 year
Not reaching contracted delivery date
No.2 client Third party 1,814,318.27 Within 1 year
Not reaching contracted delivery date
No.3 client Third party 1,092,946.46 Within 1 year
SGSB GROUP CO.,LTD 2012 Interim Report
Not reaching contracted delivery date
No.4 client Third party 1,025,824.35 Within 1 year
Not reaching contracted delivery date
No.5 client Third party 912,915.61 Within 1 year
Total 8,372,694.45
7.1.3 Among the year-end prepayments, there is no creditor who holds individually 5% or more
equity of the Company.
8. Inventories
8.1.1 Divisions of inventories
Period-end Year-beginning
Falling price Book value Falling price Book value
Balance Balance
reserves reserves
Raw materials 141,126,409.47 42,945,730.41 98,180,679.06 148,882,318.17 40,647,461.90 108,234,856.27
Materials in transit 8,836,923.58 8,836,923.58 13,740,703.03 13,740,703.03
Revolving materials
Goods in outside
94,923.08 94,923.08 192,419.71 192,419.71
processing
Products in 90,078,636.69 28,913,089.69 61,165,547.00 87,210,381.51 27,660,531.72 59,549,849.79
development
Stock commodity 141,456,815.06 29,437,937.42 112,018,877.64 138,781,681.78 27,486,962.17 111,294,719.61
Commodity in
1,437,679.73 1,437,679.73 3,418,687.89 3,418,687.89
delivery
Others 3,281,697.50 3,281,697.50 3,288,209.34 3,281,697.50 6,511.84
Total 386,313,085.11 104,578,455.02 281,734,630.09 395,514,401.43 99,076,653.29 296,437,748.14
8.1.2 Inventories falling price reserves
Year-beginning Current-period Current-period decrease Period-end balance
accrual Returns Settlements
Raw materials 40,647,461.90 3,649,388.06 1,351,119.55 42,945,730.41
Materials in -
transit
Revolving
-
materials
Goods in outside
processing
Products in 27,660,531.72 2,161,998.17 909,440.20 28,913,089.69
development
Stock commodity 27,486,962.17 2,664,759.55 117,106.28 596,678.02 29,437,937.42
Commodity in
delivery
Others 3,281,697.50 3,281,697.50
Total 99,076,653.29 8,476,145.78 117,106.28 2,857,237.77 104,578,455.02
9. Other current assets
Item Period-end Year-beginning
Rent and assurance 1,919,690.46 1,916,529.78
Total 1,919,690.46 1,916,529.78
10. Financial assets available for sale
10.1.1 Composition and classification
Year-end fair value Year-beginning fair value
(1) Bonds available for sale
(2) Equity instrument available for sale 72,969,110.72 86,183,204.93
(3) Others
SGSB GROUP CO.,LTD 2012 Interim Report
Total 72,969,110.72 86,183,204.93
10.1.2 Financial assets available for sale with limitation for cash realization at period end: None.
11. Investment in associates and consortiums
RMB’000
Invested entity Holding Voting prop. Period-end assets Period-end liabilities Period-end net assets Current Current net
prop. turnover profits
Consortium
Changshu Kai Hing
90.00 90.00 18.57 157.99 -139.42
metal plating Co.
Shanghai Huazhijie
25.00 25.00 545.72 251.21 294.51
Plastic Co.
Duerkopp Adler
Sewing Equipment 49.00 49.00 4,462.90 279.03 4,183.86 336.55 -200.57
(Suzhou) Co.,Ltd
12. Long-term equity investment
Company
method
Accounting
investment
Initial
Year-beginning
Current change
Period-end
Holding prop.
Voting prop.
Explanation
Provision
Current accrual
Cash dividend
Changshu Equity
2,520,000.00 90 90
Qixin Co.,Ltd method
Shanghai Equity
Huazhijie method 1,766,689.38 736,283.66 736,283.66 25 25 736,283.66
Plastic
Duerkopp Equity
Adler Sewing method
Equipment 23,531,957.08 21,483,712.11 -982,776.62 20,500,935.49 49 49
(Suzhou)
Co.,Ltd
Subtotal for Cost
22,219,995.77 -982,776.62 21,237,219.15 736,283.66
cost method method
Shanghai Cost
Xingguang method
308,033.99 308,033.99 308,033.99 14.3 14.3 308,033.99
Underwear
(South Africa)
Shanghai Cost
10.5
Shensi Enter. method 10,593,077.64 10,593,077.64 10,593,077.64 10.59
9
Development
Wuxi Cost
Shanggong method Not
153,814.26 153,814.26 153,814.26 80 80 153,814.26
Sewing e2
Machines
Shanghai Cost
21.7 Not
Hualian Sewing method 400,000.00 400,000.00 400,000.00
4 e1
Machinery
Shanghai Fuji- Cost 15.9
29,140,749.49 29,140,749.49 29,140,749.49 15.92
Xerox method 2
Shanghai Cost
Shanggong method 500,000.00 500,000.00 500,000.00 12.5 12.5 500,000.00
Jiarong
Shanghai Cost
Baoding method 7,500.00 7,500.00 7,500.00 <5 <5
Investment
Bank of Cost
951,400.00 951,400.00 951,400.00 <5 <5
Shanghai method
Shanghai Pufa Cost
90,000.00 90,000.00 90,000.00 <5 <5
Machinery method
Shenyin & Cost
Wanguo method 200,000.00 200,000.00 200,000.00 <5 <5
Securities
Shanghai Cost 2,840,376.00 30 Not 850,000.00
SGSB GROUP CO.,LTD 2012 Interim Report
Hirose method e1
Precision
Industrial
Shanghai Cost
Industrial method
Not
Sewing 4,600,000.00 4,600,000.00 4,600,000.00 100 100 1,033,434.53
e2
Machines
Materials
Subtotal for Cost
46,944,575.38 46,944,575.38 1,995,282.78 11,945,432.22
cost method method
Total 69,164,571.15 -982,776.62 68,181,794.53 2,731,566.44 11,945,432.22
Note1: The Company doesn’t participate in the decision or operation of Shanghai Hualian Sewing
Machines Co., Ltd., Shanghai Hirose Precision Industrial Co., Ltd., nor realizes significant influence
upon the invested entities. This is the reason for adopting cost method.
Note2: Wuxi Shanggong Sewing Machine Co., Ltd and Shanghai Industrial Sewing Machine Material
Corporation have handled the tax write-offs and the Company has made provision for impairment of
cost method.
12.2 Limitation for ability of transferring capital to investment company: None.
13.Investment real estate
Item Year-beginning Current increase Current decrease Period-end
1.Original cost 215,709,051.50 1,163,705.00 2,622,690.27 214,250,066.23
a. Buildings 164,026,289.86 1,163,705.00 2,622,690.27 162,567,304.59
b. Land use right 51,682,761.64 51,682,761.64
1. Accumulated depreciation or
85,618,085.36 2,942,632.36 1,305,083.58 87,255,634.14
amortization
a. Buildings 76,538,710.18 2,360,035.13 1,305,083.58 77,593,661.73
b. Land use right 9,079,375.18 582,597.23 9,661,972.41
2. Net value of investment real estate 130,090,966.14 -1,778,927.36 1,317,606.69 126,994,432.09
a.Buildings 87,487,579.68 -1,196,330.13 1,317,606.69 84,973,642.86
b. Land use right 42,603,386.46 -582,597.23 - 42,020,789.23
3. Accumulated provision for investment
8,089,021.01 - 288,875.91 7,800,145.10
real estate
a.Buildings 8,089,021.01 288,875.91 7,800,145.10
b. Land use right -
4. Total book value of investment real
122,001,945.13 -1,778,927.36 1,028,730.78 119,194,286.99
estate
a.Buildings 79,398,558.67 -1,196,330.13 1,028,730.78 77,173,497.76
b. Land use right 42,603,386.46 -582,597.23 42,020,789.23
Note: The current-period depreciation and amortization is of RMB 2,942,632.36. Falling price reserve
for investment on real estate is RMB 0.00.
Among the above-mentioned year-end balance of investment real estate, some properties have been
mortgaged to the banks. Details are disclosed in mortgage assets column 8.1.
14. Fixed assets at cost and accumulated depreciation
14.1 Original cost of fixed assets
Year-beginning Increase Decrease Year-end
914,321,577.81 3,935,577.42 34,214,282.75 884,042,872.48
1. Total original cost:
394,510,310.87 382,024,770.76
Including: plants & constructions 12,485,540.11
281,724,600.58 270,805,012.82
Equipment and machines 1,139,475.97 12,059,063.73
13,278,731.25 13,196,387.67
Transport vehicles 221,056.00 303,399.58
2,840,538.88 2,926,455.72
Electric equipment 87,918.97 2,002.13
32,590.14 13,000.00 45,590.14
Fixture for fixed assets
221,934,806.09 215,044,655.37
Others 2,474,126.48 9,364,277.20
Year-beginning Increase Decrease Year-end
SGSB GROUP CO.,LTD 2012 Interim Report
Newly increase reserve
2. Total accumulated 636,025,519.98
649,814,389.58 - 11,902,173.37 25,691,042.97
depreciation:
Including: plants & 196,253,674.85
198,453,167.24
constructions 3,766,341.61 5,965,834.00
Equipment and 227,999,195.57
234,027,136.49
machines 4,729,450.00 10,757,390.92
Transport vehicles 7,803,516.20 629,336.45 204,863.40 8,227,989.25
Electric equipment 2,286,949.17 77,849.69 18,177.40 2,346,621.46
Fixture for fixed assets 2,715.63 2,715.63
Others 207,240,904.85 2,699,195.62 8,744,777.25 201,195,323.22
3. Total net book value: 264,507,188.23 -7,966,595.95 8,523,239.78 248,017,352.50
Including: plants & -3,766,341.61 6,519,706.11 185,771,095.91
196,057,143.63
constructions
Equipment and -3,589,974.03 1,301,672.81 42,805,817.25
47,697,464.09
machines
Transport vehicles 5,475,215.05 -408,280.45 98,536.18 4,968,398.42
Electric equipment 553,589.71 10,069.28 -16,175.27 579,834.26
Fixture for fixed assets 29,874.51 13,000.00 42,874.51
Others 14,693,901.24 -225,069.14 619,499.95 13,849,332.15
4. Total provision for 8,482,241.34
8,505,169.56 - 22,928.22
depreciation:
Including: plants & 6,118,541.16
6,118,541.16
constructions
Equipment and 2,239,862.87
2,239,862.87
machines
Transport vehicles 48,170.70 48,170.70
Electric equipment 37,818.61 37,818.61
Fixture for fixed assets -
Others 60,776.22 22,928.22 37,848.00
5. Total book value of -7,966,595.95 8,500,311.56 239,535,111.16
256,002,018.67
fixed assets:
Including: plants & -3,766,341.61 6,519,706.11 179,652,554.75
189,938,602.47
constructions
Equipment and -3,589,974.03 1,301,672.81 40,565,954.38
45,457,601.22
machines
Transport vehicles 5,427,044.35 -408,280.45 98,536.18 4,920,227.72
Electric equipment 515,771.10 10,069.28 -16,175.27 542,015.65
Fixture for fixed assets 29,874.51 13,000.00 42,874.51
Others 14,633,125.02 -225,069.14 596,571.73 13,811,484.15
The current-period depreciation of fixed assets is of RMB 11,902,173.37.
The current-period transfer from construction in progress into fixed assets at cost is of RMB 0.00.
Among the period-end fixed assets balance, some of the plants & constructions, equipment and
machines were mortgaged to bank for borrowings. Details disclosed in the column of mortgage assets.
See more details in 8.1.
14.2 Fixed assets temporarily idle at period end: None
SGSB GROUP CO.,LTD 2012 Interim Report
14.3 Fixed assets held and for sale at period end: None
14.4 Fixed assets actually without certificate of title
Classification Book value Reason for not obtaining certificate of title Estimated time for
obtaining certificate
Plants & constructions Self-developed construction, formalities in process
405,489.34
Total
405,489.34
15. Construction in progress
15.1 Information about construction in progress
Period-end balance Year-beginning balance
Balance Depreciation Book value Balance Depreciation Book value
provision provision
Sewing machinery
2,320,937.35 2,320,937.35 2,137,670.84 2,137,670.84
project
ERP project 839,284.50 839,284.50 839,284.50 839,284.50
New lab for
photosensitive 246,733.34 246,733.34
material
Total 3,406,955.19 3,406,955.19 2,976,955.34 2,976,955.34
15.2 Change of construction in progress
Project
forcast
balance
Year-beginning
period
Increase in current
assets
Transferred to fixed
Other decrease
forcast prop.
Project investment in
Project progress
of interest capitalized
period
Accumulated amount
capitalized in current
amount of interest
period
capitalized in current
mount of interest
Source of fund
Year-ending balance
Sewing In Self-
machinery 2,137,670.84 259,743.00 76,476.49 progress raised 2,320,937.35
project
ERP project In Self-
839,284.50 839,284.50
progress raised
New lab for In Self-
photosensitive 246,733.34 progress raised 246,733.34
material
Total 2,976,955.34 506,476.34 76,476.49 3,406,955.19
16. Intangible assets
16.1 Information about intangible assets
Item Year-beginning Current increase Current decrease Year-end
1. Original cost 66,904,677.90 590,325.00 380,116.00 67,114,886.90
Land use right 35,877,662.90 35,877,662.90
Trademark right 20,161,268.51 20,161,268.51
Computer software 76,000.00 76,000.00
Patents and specialized technology 10,643,900.00 590,325.00 380,116.00 10,854,109.00
Others 145,846.49 145,846.49
2. Accumulated amortization 33,436,415.70 1,352,209.14 194,571.33 34,594,053.51
Land use right 7,299,875.70 703,565.88 8,003,441.58
Trademark right 20,161,268.51 20,161,268.51
Computer software 13,933.29 3,799.98 17,733.27
SGSB GROUP CO.,LTD 2012 Interim Report
Patents and specialized technology 5,894,765.35 637,551.00 194,571.33 6,337,745.02
Others 66,572.85 7,292.28 73,865.13
3. Book value 33,468,262.20 -761,884.14 185,544.67 32,520,833.39
Land use right 28,577,787.20 -703,565.88 - 27,874,221.32
Trademark right 0.00 0.00
Computer software 62,066.71 -3,799.98 - 58,266.73
Patents and specialized technology 4,749,134.65 -47,226.00 185,544.67 4,516,363.98
Others 79,273.64 -7,292.28 - 71,981.36
4. Accumulated provision for
depreciation
Land use right
Trademark right
Computer software
Patents and specialized technology
Others
5. Book value of intangible assets 33,468,262.20 -761,884.14 185,544.67 32,520,833.39
Land use right 28,577,787.20 -703,565.88 - 27,874,221.32
Trademark right 0.00 0.00
Computer software 62,066.71 -3,799.98 - 58,266.73
Patents and specialized technology 4,749,134.65 -47,226.00 185,544.67 4,516,363.98
Others 79,273.64 -7,292.28 - 71,981.36
The current-period amortization amounts to RMB1,352,209.14.
Among the period-end intangible assets balance, land use right was partially mortgaged to bank for
borrowings. Details disclosed in 8.1 the column of mortgage assets.
16.2 Expenses of R&D projects
Item Year-beginning Current Current transfer-out Year-end
increase Current profits Defined as
and losses intangible assets
Expenses in R&D stage 32,574,276.49 2,853,761.34 6,583,388.78 28,844,649.05
Total 32,574,276.49 2,853,761.34 6,583,388.78 28,844,649.05
17. Business reputation (Goodwill)
Invested entity Year-beginning Current increase Current decrease Period-end Provision
Beisler GmbH 23,782,260.00 849,314.40 22,932,945.60
Total 23,782,260.00 849,314.40 22,932,945.60
The increase of current-period business reputation is mainly due to the currency translation difference
of Shanggong (Europe) Holding Co., Ltd.
18. Deferred tax, assets and liabilities
Recognized deferred tax assets
Item Period-end Year-beginning
Deferred tax, assets:
Depreciation reserves 12,882,944.87 13,625,988.66
Change in fair value 56,871.50 56,871.50
Carrying back operational loss 6,264,582.74 19,630,860.98
Subtotal 19,204,399.11 33,313,721.14
Deferred tax, liabilities:
Assets appraisal evaluation 16,158,207.30 17,181,653.29
Others
Subtotal 16,158,207.30 17,181,653.29
SGSB GROUP CO.,LTD 2012 Interim Report
19.Provision for assets impairment
Year beginning Currently accrued Decrease in current year Period-end
Write-back Write-off and others balance
175,037,316.35 4,145,893.31 981,795.15 1,895,092.05 176,306,322.46
For bad debts
99,076,653.29 8,476,145.78 117,106.28 2,857,237.77 104,578,455.02
For decline of value
in inventories
2,731,566.44 2,731,566.44
For long-term
equity investment
8,089,021.01 288,875.91 7,800,145.10
For investment real
estate
8,505,169.56 22,928.22 8,482,241.34
For fixed assets
293,439,726.65 12,622,039.09 1,098,901.43 5,064,133.95 299,898,730.36
Total
20.Short-term borrowings
20.1Classification of short-term borrowings
Category Period-end Year-beginning
Mortgage loans 4,407,793.53 43,375,426.79
Secured borrowings 115,600,000.00 95,600,000.00
Credit borrowings 348,148.62 348,148.62
Total 120,355,942.15 139,323,575.41
20.2 The Company mortgaged some assets to the banks in change of RMB 4,407,793.53. Details are
disclosed in 8.1 the column of Mortgaged Assets.
20.3The secured borrowings amount to RMB 115,600,000.00, secured by Shanghai Pudong
Development (Group) Co., Ltd. Details disclosed in the column of Mortgaged Assets.
21.Bills payable
Period-end Year-beginning
Bank acceptance bill 3,927,503.15
Commercial acceptance bill
Total 3,927,503.15
The next accounting period the amount due is RMB 3,927,503.15.
22.1 Accounts payable
Item Period-end Year-beginning
Accounts payable to suppliers 114,254,711.02 105,400,593.99
Total 114,254,711.02 105,400,593.99
22.2 Among the year-end balance, there are no accounts payable to creditor who holds individually 5%
or more equity of the Company.
22.3 Among the year-end balance, accounts payable to affiliated parties is in 6.5.
22.4 Among the year-end balance, there are no significant accounts payable aged over one year.
23.1 Advance receipts
Item Period-end Year-beginning
Advance payment 21,974,495.01 18,419,282.13
Total 21,974,495.01 18,419,282.13
23.2 Among the year-end balance, there are no advances to creditor who holds individually 5% or
more equity of the Company.
23.3 There are no advance receipts related to affiliated parties.
23.4 There are no significant advance payment aged over one year
SGSB GROUP CO.,LTD 2012 Interim Report
24.Wages and salaries unpaid.
Year-beginning Current increase Current decrease Period-end
1. Salary, bonus and subsidies 26,354,382.28 150,376,336.78 154,915,041.92 21,815,677.14
2. Employee welfare 120,886.79 1,366,382.26 1,383,067.26 104,201.79
3. Social insurance 117,103.50 4,425,159.80 4,415,094.30 127,169.00
4. Housing accumulation funds 690,773.00 690,773.00
5. Labor union and staff education
226.00
expenditure 222,255.58 221,797.28 684.30
6. Compensation for the cancellation
138,762.50
of labor relationship 138,762.50
7.Others 908.00 908.00
Total 26,731,361.07 157,081,815.42 161,765,444.26 22,047,732.23
The period-end balance is mainly composed of staff pension, staff bonus reserves, termination benefits
and compensation for cancellation of labor relationship accrued by Shanggong Europe Holding Co.,
Ltd. according to local laws of the subsidiary’s residential country.
There is no wages and salaries in arrears.
25.Tax unpaid
Tax type Period-end Year-beginning
V.A.T. 1,662,476.32 1,441,584.48
115,238.31 118,938.09
Corporate income tax 14,270,581.50 8,052,336.86
Individual income tax 3,307,887.52 2,469,583.88
Tax on city maintenance and construction 1,669.48 61,078.54
Housing property tax 12,460.80 21,860.40
Educational surtax 25,881.81 23,452.48
Stamp duty
Embankment maintenance surtax
River maintenance surtax 5,176.34 6,521.99
Total 19,401,372.08 12,195,356.72
The foreign subsidiaries employ the local legal tax rate at their residential countries.
26. Dividends payable
Company name Period-end Year-beginning Reason for unpaid over one year
Light Industry Holding Group Co.,Ltd 959,269.79 959,269.79
Social legal person shares 73,549.07 73,549.07
Total 1,032,818.86 1,032,818.86
27. 1 Other payables
Period-end Year-beginning
125,000,847.39 119,457,447.78
27.2 Among the year-end balance, there are no payables to creditor who holds individually 5% or
more equity of the Company.
27.3 Among the year-end balance, there are no payables to affiliated parties.
28. Contingent liabilities
Item Year-beginning balance Current increase Current decrease Period-ending balance
Pension 271,460,262.50 175,566.44 16,091,820.10 255,544,008.84
Others 7,501,973.28 74,349.86 7,427,623.42
Total 278,962,235.78 175,566.44 16,166,169.96 262,971,632.26
SGSB GROUP CO.,LTD 2012 Interim Report
The pension refers to the staff pension program of Durkopp Adler AG according to the regulations of
Germany.
The external guarantee refers to the contingent liabilities formed from the guarantee for Shanghai
Worldbest Enterprise Development Co., Ltd. The Company has repaid the principal of loan to the bank
on behalf of Worldbest Enterprise Development Co., Ltd. See details in 9.1.
29.Non-current liabilities due within one year
Item Period-end Year-beginning
Long-term loans 520,000.00 520,000.00
Bonds payable
Long-payable
Total 520,000.00 520,000.00
30. Other current liabilities
Item Period-end Year-beginning
Interest and rent 240,814.58 459,826.03
Total 240,814.58 459,826.03
The year-beginning and period-end balance attributes to the interest and rent prepaid to the subsidiary
of the Company Shanggong (Europe) Holding Co., Ltd.
31. Long-term loans
Composition of long-term loans
Type of loans Period-end Year-beginning
Credit borrowings 1,489,984.87 1,489,984.87
Total 1,489,984.87 1,489,984.87
32. Long-term payable
Item Period-end Duration Year-beginning
SAP software license fee 3,562,221.76 2,606,878.52 3,562,221.76
Others 1,611,944.32 1,786,541.62 1,611,944.32
Total 5,174,166.08 4,393,420.14 5,174,166.08
33. Stock capital
Year-beginning Current-period increase/decrease Period-end
Bonu Shares by
Ration
s public Other Total
shares
shares reserve
1. Shares subject to
conditional sales
1) State-owned shares
2) Shares owned by state
legal entities
3) Shares owned by other
domestic investors
Including:
By domestic legal entities
By domestic natural
persons
SGSB GROUP CO.,LTD 2012 Interim Report
4) Shares owned by
foreign investors
Including:
By foreign legal entities
By foreign natural
persons
Subtotal shares subject to
conditional sales
2. Unconditionally
tradable shares
204,943,027.0
1) Tradable A shares 204,943,027.00
0
243,943,750.0
2) Tradable B shares 243,943,750.00
0
3)Tradable shares listed
abroad
4)Others
448,886,777.0
Subtotal tradable shares 448,886,777.00
0
448,886,777.0
Total equities 448,886,777.00
0
.
34. Capital reserves
Item Year-beginning Current increase Current decrease Period-end
1.Capital stock premium 313,159,549.73 313,159,549.73
2.Changes in fair value 12,250,082.11 13,146,494.21 -896,412.10
Of which: profits or losses from
changes in fair value of financial
assets available for sale
3.Other capital reserves 100,201,287.47 1,360,301.44 98,840,986.03
Total 425,610,919.31 14,506,795.65 411,104,123.66
The decrease of capital reserves in current period is mainly due to the changes in the profits and losses
from fair value of financial assets available for sale and the capital reserve of subsidiaries under equity
method.
35. Surplus reserves
Item Year-beginning Current-year increase Current-year decrease Period-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
36.Undistributed profits
Year-end balance Accrued or distributed pr
Item
oportion
Before adjustment, anterior year-end balance -124,234,846.88
Adjustment, beginning balance of report period
After adjustment, beginning balance of report period -124,234,846.88
Add: current-year net profit of parent company 28,764,043.63
Less: statutory surplus reserve
free surplus reserve
payable common stock dividend
End of year undistributed profits -95,470,803.25
SGSB GROUP CO.,LTD 2012 Interim Report
37.Operating income and cost
37.1 Operating income and cost
Item Current period Previous period
Principal operating income 755,671,667.81 848,110,432.21
Other operating income 21,252,157.30 19,024,221.34
Operating cost 539,093,035.03 635,358,917.85
37.2 Principal operations, by business sectors
Current period Previous period
Income Expense Income Expense
608,638,126.80 388,883,079.95 629,203,532.89 411,526,423.80
1. Industrial operations
2. Commercial operations 143,640,591.65 141,287,838.47 218,423,742.02 214,385,591.61
3. Others 3,392,949.36 1,316,854.75 483,157.30 287,517.69
755,671,667.81 531,487,773.17 848,110,432.21 626,199,533.10
Total
37.3 Principal operations, by products
Current period Previous period
Income Expense Income Expense
Sewing machines 556,386,155.86 343,333,927.53 562,723,443.10 351,134,519.63
International trading 143,640,591.65 141,287,838.47 218,423,742.02 214,385,591.61
Office supplies& Film
52,500,588.03 45,662,178.06 66,480,089.79 60,391,904.17
equipment
Others 3,144,332.27 1,203,829.11 483,157.30 287,517.69
Total 755,671,667.81 531,487,773.17 848,110,432.21 626,199,533.10
37.4 Principal operations, by regions
Current period Previous period
Income Expense Income Expense
409,472,576.51 366,573,061.90 475,662,888.96 438,822,544.65
Home
418,462,471.93 237,178,091.90 446,136,455.94 261,065,901.14
Abroad
Less: offset of internal transactions
72,263,380.63 72,263,380.63 73,688,912.69 73,688,912.69
in the Company
755,671,667.81 531,487,773.17 848,110,432.21 626,199,533.10
Total
The Company classifies subsidiaries at home and abroad by their register locations.
37.5 Principal operating income from the top five clients of the Company
Entity or rank Operating income Proportion (%)
No.1 client 37,320,722.32 4.80
No.2 client 23,546,913.64 3.03
No.3 client 23,421,075.77 3.01
No.4 client 22,353,980.83 2.88
No.5 client 20,460,472.70 2.63
Total 127,103,165.26 16.35
38. Business tax and extra charges
Current period Previous period Standard
Business tax 765,104.23 708,073.30 5%
Tax on city maintenance and
7%
construction 349,446.25 233,719.65
Educational surtax 249,604.48 109,617.68 5%
SGSB GROUP CO.,LTD 2012 Interim Report
Others 1,167,293.75 1,079,714.58
Total 2,531,448.71 2,131,125.21
39. Operating expense
Item Current period Previous period
Salary 32,129,963.88 35,916,956.35
Repairs and after sale expense 412,242.74 437,295.04
Office expense 380,781.08 328,997.36
Travel expense 4,193,002.31 5,121,674.34
Transport expense 5,964,335.04 6,966,313.42
Advertisement expense 909,423.07 910,085.98
commission 7,943,022.61 8,393,033.82
Rent and warehouse expense 1,975,461.95 2,366,230.63
insurance 638,089.73 637,786.69
Packing expense - 7,174.43
Conference expense 50,007.27 24,116.00
Depreciation expense 367,767.14 468,898.46
Exhibition expense 938,454.44 592,298.10
Utility expense 40,230.83 15,568.16
Handling charges 712,518.05 5,500.00
Sample printing expense and product loss 3,287,298.27 4,354,997.33
Others 12,830,115.77 18,556,088.06
Total 72,772,714.18 85,103,014.17
40. Management expense
Item Current period Previous period
Salary 38,342,334.67 41,469,027.52
Office expense 1,289,588.89 1,819,068.40
Utility expense 324,173.04 112,128.13
Communication and entertainment 1,104,431.70 875,614.23
Property insurance 834,951.00 1,047,368.84
Conference expense 777,810.00 642,672.40
Travel expense 1,248,178.87 1,715,884.06
Depreciation expense 4,977,626.94 4,768,441.51
Repair expense 259,259.05 329,091.75
Transportation expense 548,468.12 661,963.86
Rent 2,117,686.02 2,361,492.39
Board and supervisory board expense 160,270.28 43,083.34
Consulting expense 2,222,159.69 1,590,883.04
Legal expense 77,435.58 106,928.00
R&D expense for new products 23,436,504.74 28,298,539.30
Tax 419,770.54 379,977.26
Deferred, amortization of intangible assets 1,351,586.82 2,035,889.19
Others 3,103,014.57 3,130,479.16
Total 82,595,250.52 91,388,532.38
SGSB GROUP CO.,LTD 2012 Interim Report
41. Financial expense
Item Current period Previous period
Interest expenses 10,952,227.00 15,500,316.07
Less: interest income 1,315,647.58 1,920,657.64
Exchange losses -3,881,692.63 2,810,606.33
Others 376,817.20 679,607.03
Total 6,131,703.99 17,069,871.79
42. Income from changes in fair value
Sources of income from changes in fair value Current period Previous period
Tradable financial assets -33,802.29 -477,030.63
Among which: income from changes in fair
value of derivatives
Tradable financial liabilities
Investment real estate at fair value
Others
Total -33,802.29 -477,030.63
43.1 Detailed information about investment income
Item Current period Previous period
Long-term equity investment by cost method 12,445,432.22 1,312,956.63
Long-term equity investment by equity method -982,776.62 -244,580.63
From disposal of long-term equity investment -284,990.00
From holding tradable financial assets
From duration of holding to maturity during the investment
From duration of holding financial assets available for sale
From disposal of tradable financial assets 412,750.70 479,043.18
From holding to maturity during the investment
From financial assets available for sale 395,717.08
Others
Total 12,271,123.38 1,262,429.18
43.2 By cost method
Invested entity Current period Previous period Reason for increase/decrease
Shanghai Fuji-Xerox Co., Ltd. 10,990,776.50
No distribution during this period
Shanghai Butterfly Import & Export Co. Ltd 562,956.63
Over distribution
Shanghai Hirose Precision Machinery Co., Ltd. 850,000.00 750,000.00
Distribution increase in this period
Shanghai Huanzhong Co.,Ltd 500,000.00
Distribution during this period
Bank of Shanghai 104,655.72
Distribution during this period
43.3 Income from long-term equity investment by equity method
Invested company Current period Previous period Reason for increase & decrease with last
period
Duerkopp Adler Sewing Equipment -982,776.62 -244,580.63 Loss increased in this period
SGSB GROUP CO.,LTD 2012 Interim Report
(Suzhou) Co.,Ltd
Total -982,776.62 -244,580.63
43.4 There is no significant limitation of the Company on returning of investment.
44. Assets depreciation loss
Current period Previous period
Loss in bad debts 3,164,098.16 1,746,451.37
Loss in inventory devaluation 8,359,039.50 10,984,554.16
Loss in falling value of long-term equity investment -285,000.00
Loss in falling value of investment in real estate
Loss in falling value of fixed assets
Total 11,523,137.66 12,446,005.53
45. Non-operating income
45.1 Detailed information about non-operating income
Item Current period Previous period non-recurring gains and losses inc
luded in the current period
Gains from disposal of non-current assets 543,567.20 21,864,940.29 543,567.20
Among which: disposal of fixed assets 543,567.20 21,864,940.29 543,567.20
disposal of intangible assets
Gains from non-monetary assets transaction
Gains from debts reorganization
Gains from reception of donation
Government subsidy 57,590.00 1,274,088.00 57,590.00
Amercement income and liquidated
damages
Others 6,041.88 597,052.41 6,041.88
Total 607,199.08 23,736,080.70 607,199.08
.
45.2 Detailed information about government subsidy
Project Current period Previous period Explanation
2011 subsidies for financial support for employee education 41,090.00
Fund for small and middle enterprises’ international market exploration 16,500..00
2010 subsidies for financial support of the companies 1,274,088.00
Total 57,590.00 1,274,088.00
46. Non-operating expense
Current period Previous period Non-recurring gains and losses
included in the current period
Losses from disposal of non-current assets 139,799.03 1,432,553.29 139,799.03
Among which: disposal of fixed assets 139,799.03 1,432,553.29 139,799.03
disposal of intangible assets
Losses from debt restructure
Exchange of non-monetary assets
Expense in donations
Including: charitable donations
Amercement and fines 3,428.13 3,428.13
Others 7,382.00 1,172.90 7,382.00
Total 150,609.16 1,433,726.19 150,609.16
47. Income tax expense
SGSB GROUP CO.,LTD 2012 Interim Report
Item Current period Previous period
Current income tax expense 12,088,824.14 4,380,348.98
Deferred income tax expense 12,900,225.54 2,751,602.48
Total 24,989,049.68 7,131,951.46
48. Calculation process of basic earning per share and diluted earning per share
48.1 Calculation formula
Basic earning per share
Basic earning per share=P0/S
S=S0+S1+Si*Mi/M0-Sj*Mj/M0-Sk
P0 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 year, and Sk means the
number of shrunk shares. M0 means the number of months of report year, Mi the number of months
from the next one after newly-issued shares to the end of report year, and Mj the number of months
from the next one after newly-decreased net assets to the end of report year.
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=P1/(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)
P1 represents the net profit attributable to common shareholders or the net profit attributable to
common shareholders after non-current profits and losses, and adjusted according to and relevant regulations with consideration of the influence from dilutive
potential common shares. On calculating the diluted earning per share, the Company should consider
all the influences of dilutive potential common shares upon the net profit attributable to common
shareholders or the net profit attributable to common shareholders after deduction of non-current
profit/loss, and according to the order of their dilution ranks, account them into diluted earning per
share till the minimum.
48.2 Calculation process
48.2.1 Basic earning per share
Current period Previous period
Item
net profit attributable to common shareholders 28,764,043.63 24,625,199.36
weighted mean of common equity publicly issued 448,886,777.00 448,886,777.00
Basic earning per share (yuan/share) 0.0641 0.0549
Calculation process for weighted mean of common equity
Current period Previous period
Item
Year beginning common equity publicly issued 448,886,777.00 448,886,777.00
Add: current period weighted mean of common
equity publicly issued
Less: current period buy-back for weighted mean of
common equity publicly issued
Year-end common equity issued outside 448,886,777.00 448,886,777.00
48.2.2 Diluted earning per share
SGSB GROUP CO.,LTD 2012 Interim Report
Current period Previous period
Item
net profit attributable to common shareholders
28,764,043.63 24,625,199.36
(diluted)
weighted mean of common equity publicly issued
448,886,777.00 448,886,777.00
(diluted)
Diluted earning per share (yuan/share) 0.0641 0.0549
Calculation process for weighted mean (diluted )of common equity
Current period Previous period
Item
Calculate year-end basic earnings per share issued
and outstanding common shares Weighted average 448,886,777.00 448,886,777.00
number
impact of convertible bonds
Impact of share options
Year-end common equity issued outside (diluted) 448,886,777.00 448,886,777.00
49. Other comprehensive income
Current period Previous period
1. Profit (loss) from financial assets available for sale -13,146,494.21 12,572.43
Less: income tax impact by financial assets available for sale
Transfer into current profits and losses from previously accounted into other
comprehensive income
Subtotal -13,146,494.21 12,572.43
2. Shared benefits in invested entities’ other comprehensive income by equity method -4,472,161.50 6,114,266.36
Less: income tax impact upon invested entities’ other comprehensive income by
equity method
Transfer into current profits and losses from previously accounted into other
comprehensive income
Subtotal -4,472,161.50 6,114,266.36
3. Profit (loss) from cash flow hedge instruments
Less: income tax impact by cash flow hedge instruments
Transfer into current profits and losses from previously accounted into other
comprehensive income
Adjustment of initial investment in hedging projects
Subtotal
4. Foreign exchange translation difference -11,056,860.31 19,368,009.35
Less: transfer into current profits and losses from disposal of overseas operations
Subtotal -11,056,860.31 19,368,009.35
5. Others
Less: income tax impact by other items accounted into other comprehensive income
Transfer into current profits and losses from previously accounted into other
comprehensive income
Subtotal
Total -28,675,516.02 25,494,848.14
50. Attachment of cash flow statement
50.1 Other cash inflow related to operating activities
Item Current year
SGSB GROUP CO.,LTD 2012 Interim Report
Receipt of current account 450,780.87
Specific subsidies 57,590.00
Interest income 1,315,647.58
Non-operating income 6,041.88
Total 1,830,060.33
50.2 Other cash outflow related to operating activities
Item Current year
Current account 10,992,770.92
Sales expenditure 27,748,715.19
Admin. expenditure 12,538,841.04
Non-operating expense 10,810.13
Bank charges 376,817.20
Total 51,667,954.48
50.3 Other cash outflow related to funding activities
Item Current year
Reduction in scope of consolidation 12,727.41
Total 12,727.41
51. Supplements of cash flow statement
51.1 Supplements of cash flow statement
Item Current period Previous year
1.Net profits converted into cash flow from operating activities
Net profits 49,981,396.35 39,592,988.22
Add: provision for assets depreciation 11,523,137.66 12,446,005.53
Depreciation of fixed assets, of oil/gas assets and productive biological assets 14,262,208.50 17,278,303.73
Amortization of intangible assets 1,934,806.37 2,525,985.54
Amortization of long-term deferred expenses
Losses in disposal of fixed assets, intangible and other long-term assets (less:
-403,768.17 -21,643,863.66
income)
Losses on scrapping of fixed assets (less: income)
Losses on changes in fair value (less: income) 33,802.29 477,030.63
Financial expense (less: income) 10,054,138.74 18,310,922.40
Investment loss (less: income) -12,271,123.38 -1,262,429.18
Decrease in deferred income tax assets (less: increase) 14,109,322.03 4,346,828.59
Increase in deferred income tax liabilities (less: decrease) -1,023,445.99 -1,958,298.26
Decrease of inventories (less: increase) 9,201,316.32 -53,291,079.69
Decrease in receivables under operating activities (less: increase) -90,955,090.93 -96,186,620.74
Increase in payables under operating activities (less: decrease) 24,183,607.74 68,986,257.64
Others
Net cash flows from operating activities 30,630,307.53 -10,377,969.25
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 period 365,006,099.15 345,485,398.79
Less: Cash at the beginning of period 358,470,076.23 409,008,778.08
Plus: Cash equivalents at the end of period
Less: Cash equivalents at the beginning of period
Net increase in cash and cash equivalents 6,536,022.92 -63,523,379.29
51.2 Composition of cash and cash equivalents
Item Period-ending Year-beginning
1.Cash 365,006,099.15 358,470,076.23
Including: cash on hand 808,528.37 589,946.86
Bank deposit immediately available for payment 361,743,685.41 356,653,608.27
SGSB GROUP CO.,LTD 2012 Interim Report
Other monetary fund immediately available for payment 2,453,885.37 1,226,521.10
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.Period-end cash and cash equivalents 365,006,099.15 358,470,076.23
The cash and cash equivalents of the Company and its consolidated subsidiaries whose use is under
limited restriction of over three months are not included in the cash and cash equivalents.
6. Affiliated parties and affiliated transactions
(1) Profile of the parent of the Company
RMB’000
Parent
Relationship
Type
Register place
representative
Legal
activities
Principal
Register capital
(%)
Holding prop.
(%)
Voting prop.
of the Company
Final controller
code
Organization
Shanghai Pudong Administration of 23.48 23.48 Shanghai Pudong
Holding shareholder
Shanghai
Huang Guoping
00245606-0
New Area State- state-owned assets New Area State-
owned Assets by entrust of owned Assets
Supervision and Shanghai Pudong Supervision and
Management New Area People’s Management
Commission Government Commission
(2) Information about the subsidiaries of the Company
RMB’000
Subsidiary
Classification
Status
Register place
Legal representative
Business scope
Registered capital
Equity proportion %
Voting share %
Organization code
Durkopp Adler Holding Co., Ltd. Shanghai Zhang Imp. & Exp. of USD4,000,000 40 74 78627462-7
Trading Shanghai subsidiary Min sewing machines,
Co. etc.
Shanghai Holding Co., Ltd. Shanghai Chen Sewing machinery, 12,000 70 90 63132496-8
Shuangchong subsidiary Changbao etc.
Sewing Machines
Co.
Shanghai Shanggong Wholly- One-perso Shanghai Li Sewing machinery, 79,000 100 100 74809363-0
Butterfly Sewing owned n company Xiaofeng etc.
Machines Co.
Shanghai Suoying Holding Co., Ltd. Shanghai Ma Real estate 13,000 69 69 13246335-7
Real Estate Co. subsidiary Minliang development, etc.
Shanghai Industrial Holding Non-comp Shanghai Jiang Sewing machinery, 4,650 100 100 13224151-9
Sewing Machines subsidiary any syste Jinrong etc.
Materials General m
Co.
Shanggong (Europe) Holding Co., Ltd. Germany Zhang Sewing machines, EUR22,500,000 100 100 ---
Holding Co. subsidiary Min etc.
SMPIC Waigaoqiao Wholly- Co., Ltd. Shanghai Yang Free trade zone 8,620 100 100 13221916-X
Office Equipment owned Wenchang warehousing
Co.
Shanghai Shanggong Wholly- Co., Ltd. Shanghai Jiang Assets management 5,000 100 100 56803204-8
Assets Management owned Jingrong
Co.
(3) Information about associates and consortiums
SGSB GROUP CO.,LTD 2012 Interim Report
Company Type Register place Representative Business Register capital Equity Voting Relationship Org. code
share (%) prop. (%)
Changshu Qixing Co.,Ltd Shangshu Wang Mujiong Plating , numbering 2,800 ,000RMB 90 90 consortium 14204429-5
Co.,Ltd machine parts
production
Duerkopp Adler Co., Jiangsu Bo Weiping Sewing equipment USD 7,500,000 49 49 consortium 57141865-4
Sewing Equipment Ltd.
(Suzhou) Co.,Ltd
Shanghai Co., Shanghai Dai Siwei Production of USD7,640,000 25 25 consortium 60734921-7
Huazhijie Plastic Ltd. chemical products
Co.
(4) Other affiliated parties of the Company
Affiliated party Relationship Organization code
Shanghai Hirose Precision Machinery Co., Ltd. With participation of the Company 60742796-7
Shanghai Fuji Xerox Co.,Ltd With participation of the Company 60720953-X
(5) Affiliated transactions
① The transactions among the consolidated subsidiaries, and among the Company and the
subsidiaries, have been offset.
② Purchase goods/receive service
Current period value Previous value
Price method &
Affiliated party Trade content
decision process value Prop(%) value Prop.(%)
Duerkopp Adler Sewing Purchase
Equipment (Suzhou) sewing Agreed price 6,819,406.29 1.29
Co.,Ltd
equipment
Sell goods/provide service
Price method & Current period value Previous value
Affiliated party Trade content decision
value Prop(%) value Prop.(%)
process
Shanghai Fuji
Sell goods Agreed price 23,546,913.64 3.03 17,464,024.82 2.01
Xerox Co.,Ltd
③ Account receivables and payables of affiliated party
Account receivables of affiliated party
Period end balance Period beginning balance
Item Affiliated party
Book balance provision Book balance provision
Account
receivables
Shanghai Fuji Xerox
10,209,462.90 510,473.15 3,151,900.23 157,595.01
Co.,Ltd
Duerkopp Adler Sewing
2,622,568.72 131,128.44 4,218,908.46 210,945.42
Equipment (Suzhou) Co.,Ltd
Account payables of affiliated party
Item Affiliated party Period end balance Period beginning balance
Account payables
Duerkopp Adler Sewing Equipment (Suzhou) Co.,Ltd 2,523,374.46 858,805.61
Other account
payables
Duerkopp Adler Sewing Equipment (Suzhou) Co.,Ltd 54,289.00
SGSB GROUP CO.,LTD 2012 Interim Report
④ Affiliated leasing
RMB’000
Lesser Lessee Leasing Initial date Termination Evidence Benefits
assets
SGSB Group Co., Ltd. Shanghai Hirose Precision Machinery Equipment 2011/03/11 201603/11 Contract 250
7. Contingent Items
Contingent liabilities arising from debt guarantees for other entities Shanggong (Europe) Holding Co.,
Ltd. as at June 30, 2012
Gu guarantee SumPe guaranty period relationship Co completed Ini influence on financial situation
or not
Sh Shanggong (Europe) USD5,300,00020 2005/06/30-2015/10/31Joint-liability N not Es estimated not to be overdue, no negative
Holding Co., Ltd. influence upon the Company’s operations.
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, 2012, this guarantee deal didn’t cause outflow of economic interest from the
Company.
8. Commitments
8.1 Significant commitments
8.1.1 External investment contract made and unfulfilled or not fully fulfilled and the related accounting
expenditure:None
8.1.2 Big-ticket outsourcing contract made and in progress or to be fulfilled and the related accounting
influence
Till June 30, 2012, the Company hasn’t any big-ticket outsourcing contract in progress or to be fulfilled
to be announced.
8.1.3 Lease contract made and in progress or to be fulfilled and the related accounting influence
Till June 30, 2012, the Company hasn’t any lease contract made and in progress or to be fulfilled to be
disclosed.
8.1.4 Merger agreement made and in progress or to be fulfilled
Till June 30, 2012, the Company hasn’t any merger agreement made and in progress or to be fulfilled
to be announced.
8.1.5 Restructure program made and in progress or to be fulfilled
Till June 30, 2012, the Company hasn’t any restructure program made and in progress or to be fulfilled
to be disclosed.
8.1.6 Other significant accounting commitments
8.1.6.1 Borrowings through mortgage of assets
RMB’000
Mortgage Purpose Sum Borrower
SGSB GROUP CO.,LTD 2012 Interim Report
11A-11D, 1500 Century Avenue Bank borrowing SGSB Group
Bank deposit of EUR 125,100 Credit guarantee --- Shanggong (Europe) Holding Co.
Bank deposit of EUR 673,500 Guarantee --- Shanggong (Europe) Holding Co.
Fixed assets of EUR 12,529,500 Credit guarantee EUR4,407,800 Shanggong (Europe) Holding Co.
8.1.6.2 Affiliated parties or other entities offering guarantee for the Company as at June 30, 2012
RMB’000
Guarantor Guarantee Type Purpose Sum
Non-affiliated party
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 29,000
Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 20,000
Total 115,600
The Company has mortgaged 100% shares in Shanghai Butterfly Sewing Machine Co., Ltd and 80%
shares in Shanghai Butterfly Imp. & Exp. Co., Ltd held by Shanghai Shanggong Butterfly Sewing
Machine Co., Ltd, and the real estate at 190 Hu Yi Road owned by the Company, to Shanghai
Pudong Development (Group) Co., Ltd. as counter guarantee for the guarantee quotation of RMB
115,600,000 (as at June 30, 2012 really guaranteed borrowing RMB 115,600,000), the period of
counter guarantee is from June 9, 2009 to June 8, 2013.
8.2 Fulfillment of commitments made in previous periods
There is no information about fulfillment of commitments made in previous periods that should be
disclosed or announced.
9. Events occurring after balance sheet date
9.1 Significant events after balance sheet date: No
9.2 Profit appropriation after balance sheet date
According to the resolution by the 20th meeting of the Sixth Board of Directors dated August 29, 2012,
the Company didn’t propose profit appropriation for the report period.
9.3 Other events after balance sheet date
Till the disclosure of current report, the Company hasn’t any other significant events that should be
announced to the public.
10. Explanation about other significant events
Assets and liabilities accounted at fair value
RMB’
Year-beginning Profits/losses Accumulated Impairment Period-end
from changes of changes of fair accrual
fair value value into equity
Financial assets
1. Financial assets at fair value and
whose changes accounted into current 793,642.16 -33,802.29 773,125.46
profits and losses (derivatives excluded)
2. Financial derivatives
86,183,204.93 -13,146,494.21 -896,412.10 72,969,110.72
3. Financial assets available for sale
86,976,847.09 -13,180,296.50 -896,412.10 73,742,236.18
Subtotal of financial assets
Investment real estate
SGSB GROUP CO.,LTD 2012 Interim Report
Productive biological assets
Others
86,976,847.09 -13,180,296.50 -896,412.10 73,742,236.18
Total
Financial liabilities
11. Important notes for parent company’s financial statements
11.1 Accounts receivable
11.1.1 Composition of accounts receivable
Year-end Year-beginning
Prop. Provision for bad Prop. Provision for bad
Balance Balance
(%) debts/Prop. % (%) debts/Prop. %
1. Accounts receivable with significant
individual amount
2. Accounts receivable with
81,967,055.08 100.0 81,642,928.29
insignificant individual amounts but 104,014,336.82 100.00 98,167,374.63
78.80 0 83.17
characterized as risky portfolio
3. Other insignificant accounts
receivable
100.0
Total 104,014,336.82 100.00 81,967,055.08 98,167,374.63 81,642,928.29
0
Explanation for composition of accounts receivable
End-of-period provision for bad debts of accounts receivable with significant individual amount: No
Accounts receivable with insignificant individual amounts but characterized as risky portfolio
Age Period-end Year- beginning
Balance Provision Balance Provision
Sum Proportion (%) Sum Proportion (%)
Within 1 year 21,485,074.18 20.66 1,074,253.71 16,148,600.96 16.45 807,430.04
1—2 years 1,678,401.36 1.61 335,680.27 1,189,014.03 1.21 237,802.80
2—3 years 587,480.37 0.56 293,740.19 464,128.40 0.47 232,064.21
Over 3 years 80,263,380.91 77.17 80,263,380.91 80,365,631.24 81.87 80,365,631.24
Total 104,014,336.82 100.00 81,967,055.08 98,167,374.63 100.00 81,642,928.29
End-of-period provision for bad debts of accounts receivable with insignificant individual amount but
under impairment testing: No
11.1.2 Information for accounts receivable actually written-off in current report period:No
11.1.3 Among the period-end accounts receivable, there are no obligators who holds individually 5%
or more equity of the Company.
11.1.4 Top five accounts receivable
Entity or rank Relation with the Sum Duration Proportion in total
Company accounts receivable (%)
No.1 client Third party 11,530,775.39 Over 3 years 11.09
No.2 client Third party 10,209,462.90 Within 1 year 9.82
No.3 client Third party 7,480,189.67 Over 3 years 7.19
No.4 client Third party 7,234,606.86 Over 3 years 6.96
No.5 client Subsidiary of Company 4,679,327.49 over 3 years 4.50
Total 41,134,362.31 39.56
11.1 5 Accounts receivable from affiliated parties
SGSB GROUP CO.,LTD 2012 Interim Report
Affiliated party Relationship Sum Prop. in accounts receivable (%)
Shanghai Shanggong Butterfly 734,478.90 0.71
Subsidiary of the Company
Sewing Machine Co.,Ltd
Durkopp Adler Industrial
Subsidiary of the Company 1,795,394.94 1.73
Manufacturing Shanghai Co.
Shanghai Shaungchong Sewing 734,478.90 0.71
Subsidiary of the Company
Machine Co.
SMPIC Office Equipment Imp. & 1,795,394.94 1.73
Subsidiary of the Company
Exp. Co.
Shanghai Fuji Xerox Co. 3,267,586.72 3.14
Participating company
11.2 Other receivables
11.2.1 Composition of other receivables
Year-end Year-beginning
Prop. Provision for bad Provision for bad
Balance Balance Prop. (%)
(%) debts/Prop. % debts/Prop. %
1. Accounts receivable with 11,837,685.72
12,229,574.78 13.84 11,837,685.72 13.93
significant individual amount 100.00
2. Accounts receivable with
37,911,582.66 23,080,288.81
insignificant individual amounts but 76,120,637.89 86.16 73,157,236.28 86.07
22.28 31.55
characterized as risky portfolio
3. Other insignificant accounts
receivable
Total 88,350,212.67 100.00 37,911,582.66 84,994,922.00 100.00 34,917,974.53
Explanation for composition of other accounts receivable
End-of-period provision for bad debts of other accounts receivable with significant individual amount:
Other accounts receivable Balance Provision Proportion% reason
Single testing decrease of
No.4 client 9,424,116.30 9,424,116.30 100.00
value
Single testing decrease of
No5 client 2,805,458.48 2,805,458.48 100.00
value
Total 12,229,574.78 12,229,574.78
Other accounts receivable with provision for bad debts and using age analysis method
Age Period-end Year- beginning
Balance Provision Balance Provision
Sum Proportion (%) Sum Proportion (%)
Within 1 year 56,853,867.15 74.69 2,842,693.35 51,378,280.20 70.23 2,568,914.01
1—2 years 1,894,993.85 2.49 378,998.77 1,504,786.07 2.06 300,957.21
2—3 years 90,982.17 0.12 45,491.09 127,504.85 0.17 63,752.43
Over 3 years 17,280,794.72 22.70 17,280,794.72 20,146,665.16 27.54 20,146,665.16
Total 76,120,637.89 100.00 20,547,977.93 73,157,236.28 100.00 23,080,288.81
End-of-period provision for bad debts of other accounts receivable with insignificant individual amount
but under impairment testing: No
11.2.2 Among the period-end accounts receivable, there are no obligators who holds individually 5%
or more equity of the Company.
11.2.3 Top five accounts receivable
SGSB GROUP CO.,LTD 2012 Interim Report
Entity or rank Relation with the Company Sum Duration Proportion in total Type
accounts receivable (%)
23,695,705.62 26.82 Current account
No.1 client Sub-subsidiary Within 1 year
12,955,325.61 14.66 Current account
No.2 client Subsidiary of the Company Within 1 year
11,700,000.00 13.24 Current account
No.3 client Subsidiary of the Company Within 1 year
9,485,956.10 10.74 Current account
No.4 client Subsidiary of the Company Within 1 year
Current account
No.5 client Non-affiliated party 9,424,116.30 Within 3 years 10.67
Total 67,261,103.63 76.13
11.2 4 Accounts receivable from affiliated parties
Affiliated party Relationship Sum Prop. in accounts receivable (%)
Shanghai Shanggong Imp. & 622,742.50 0.70
Sub-Subsidiary of the Company
Exp. Co.
Shanghai Shanggong Butterfly 92,699.86 0.10
Subsidiary of the Company
Sewing Machine Co.
Durkopp Adler Trading
Subsidiary of the Company 11,700,000.00 13.24
(Shanghai) Co.
Durkopp Adler Industrial 23,695,705.62 26.82
Sub-Subsidiary of the Company
Manufacturing Shanghai Co.
Shanghai Shuangchong Sewing 12,955,325.61 14.66
Subsidiary of the Company
Machines Co.
Shanghai Shanggong Assets
Subsidiary of the Company 9,485,956.10 10.74
Management Co.
SMPIC Office Equipment Imp. & 595,710.60 0.67
Subsidiary of the Company
Exp. Co
11.3 Long-term equity investment
Company
method
Accounting
Initial investment
Year-beginning
Current change
Period-end
Holding prop.
Voting prop.
Explanation
Provision
Current accrual
Cash dividend
Joint Venture:
Changshu Qixing Equity
2,520,000.00 90 90
Co. method
Shanghai Equity 736,283.6
1,766,689.38 736,283.66 736,283.66 25 25
Huazhijie Plastic method 6
Subtotal for 736,283.6
736,283.66 736,283.66
equity method 6
Subsidiaries:
Durkopp Adler Cost
Industrial method
53,223,926.00 53,223,926.00 -53,223,926.00
Manufacturing
Shanghai Co.
Durkopp Adler Cost
11,830,443.11 11,830,443.11 11,830,443.11 40 74
Trading Shanghai method
Shanghai Cost
Industrial Sewing method 1,033,434
4,600,000.00 4,600,000.00 4,600,000.00 100 100
Machines .53
Materials
Shanghai Cost
8,400,000
Shuangchong method 8,400,000.00 8,400,000.00 8,400,000.00 70 90
.00
Sewing Machines
Shanghai Cost
Suoying Real method 10,313,953.16 10,313,953.16 10,313,953.16 69 69
Estate
Shanghai Cost
Shanggong method
79,000,000.00 79,000,000.00 79,000,000.00 100 100
Butterfly Sewing
Machine Co.
Shanggong
(Europe) Holding 225,155,693.64 225,155,693.64 225,155,693.64 100 100
Co.
SMPIC Cost
8,620,000.00 8,620,000.00 8,620,000.00 100 100
Waigaoqiao method
SGSB GROUP CO.,LTD 2012 Interim Report
Office Apparatus
Shanggong
Assets 5,000,000.00 5,000,000.00 100 100
Management
Other invested
companies:
Shanghai Cost
Xingguang method 14.3 14.3 308,033.9
308,033.99 308,033.99 308,033.99
Underwear 0 0 9
(South Africa)
Shanghai Shensi Cost
10.5 10.5
Enter. method 10,593,077.64 10,593,077.64 10,593,077.64
9 9
Development
Wuxi Shanggong Cost 80.0 80.0 153,814.2
153,814.26 153,814.26 153,814.26
Sewing Machines method 0 0 6
Shanghai Hualian Cost
21.7
Sewing method 400,000.00 400,000.00 400,000.00 Note
4
Machinery
Shanghai Fuji- Cost 15.9 15.9
29,140,749.49 29,140,749.49 29,140,749.49 10,990,776.50
Xerox method 2 2
Shanghai Cost
Baoding method 7,500.00 7,500.00 7,500.00 <5 <5
Investment
Bank of Shanghai Cost
951,400.00 951,400.00 951,400.00 <5 <5 104,655.72
method
China Perfect Cost
90,000.00 90,000.00 90,000.00 <5 <5
Machinery method
Shenyin & Cost
Wanguo method 200,000.00 200,000.00 200,000.00 <5 <5
Securities
Shanghai Hirose Cost
Precision method 2,840,376.00 30 Note 850,000.00
Industrial
Subtotal for cost 14,895,28
459,988,591.29 -53,223,926.00 406,764,665.29 11,945,432.22
method 2.78
Total 15,631,56
460,724,874.95 -53,223,926.00 407,500,948.95 11,945,432.02
6.44
Note: The Company doesn’t participate in the decision or operation of Shanghai Hualian Sewing
Machines Co., Ltd., Shanghai Hirose Precision Industrial Co., Ltd., nor realizes significant influence
upon the invested entities. This is the reason for adopting cost method.
11.4 Operating revenue and operating expense
11.4.1 Principal operating income
Current period Previous period
Principal operating income 58,215,408.62 67,245,009.90
Other operating income 14,347,536.32 12,646,744.71
Operating cost 54,593,143.90 66,494,547.80
11.4.2 Principal operations, by business sectors
Current period Previous period
Income Expense Income Expense
Industrial operations 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
Total 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
11.4.3 Principal operations, by products
Current period Previous period
Income Expense Income Expense
Office supplies& Film
58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
equipment
Total 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
11.4.4 Principal operations, by regions
SGSB GROUP CO.,LTD 2012 Interim Report
Current period Previous period
Income Expense Income Expense
Home 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
Total 58,215,408.62 51,376,998.65 67,245,009.90 60,392,570.84
11.4.5 Principal operating income from the top five clients of the Company
Entity or rank Operating income Proportion (%)
No.1 client 23,546,913.64 32.45
No.2 client 3,425,491.12 4.72
No.3 client 2,395,439.34 3.30
No.4 client 1,539,125.61 2.12
No.5 client 1,003,418.80 1.38
Total 31,910,388.51 43.97
11.5 Investment income
11.5.1 Detailed information about investment income
Item Current period Previous period
Long-term equity investment by cost method 12,230,435.12 628,146.24
Long-term equity investment by equity method
From disposal of long-term equity investment 1.00
From disposal of tradable financial assets 799,827.78 344,110.53
From financial assets available for sale
Others
Total 13,030,263.90 972,256.77
There are no significant restrictions over the inflow of investment earnings.
11.5.2 By cost method
Invested entity Current period Previous period Reason for increase/decrease
Shanghai Fuji-Xerox Co., Ltd. 10,990,776.50
Distribution of profit
Shanghai Hirose Precision Machinery Co., Ltd 850,000.00 750,000.00
Increase of profit distribution
Shanghai Shuangchong Sewing Machine Co.. 10,990,776.50
increase of excess loss by subsidiary
Shanghai Huanzhong Co., Ltd. 850,000.00 750,000.00
Distribution of profit
The investment income from Shanghai Shuangchong Sewing Machines Co., Ltd. represents the excess
loss accrued by the Company .
11.6 Supplements of cash flow statement
Item Current period Previous period
1.Net profits converted into cash flow from operating activities
Net profits 1,794,328.97 3,971,199.23
Add: provision for assets depreciation 989,163.47 -3,254,735.91
Depreciation of fixed assets, of oil/gas assets and productive biological assets 3,871,483.80 3,381,627.55
Amortization of intangible assets 1,265,508.11 2,166,596.28
Amortization of long-term deferred expenses
Losses in disposal of fixed assets, intangible and other long-term assets (less:
-168,630.62 -21,578,553.49
income)
Losses on scrapping of fixed assets (less: income)
Losses on changes in fair value (less: income) -6,353.71 111,864.03
Financial expense (less: income) 4,255.674.24 7,029,392.58
Investment loss (less: income) -13,030,263.90 -972,256.77
Decrease in deferred income tax assets (less: increase)
SGSB GROUP CO.,LTD 2012 Interim Report
Increase in deferred income tax liabilities (less: decrease)
Decrease of inventories (less: increase) 1,501,776.52 3,195,745.69
Decrease in receivables under operating activities (less: increase) -16,531,788.23 -14,588,249.21
Increase in payables under operating activities (less: decrease) 5,789,249.68 33,978,922.03
Others
Net cash flows from operating activities -10,269,851.67 13,441,552.01
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 period 73,763,352.03 124,349,613.70
Less: Cash at the beginning of period 95,682,363.26 142,618,456.50
Plus: Cash equivalents at the end of period
Less: Cash equivalents at the beginning of period
Net increase in cash and cash equivalents -21,919,011.23 -18,268,842.80
12. Supplementary information
12.1 Current-year non-current profit/loss
RMB’
Item Sum Explanation
Disposal of non-current assets, including the written-off of accrued provision for assets depreciation 404,698.17
Tax rebate and tax relief from approval without authorization, formal authorization or under occasional
situation
Government subsidies accounted into current profit/loss, except the continuous ration subsidies directly
57,590.00
related to the normal operations and stipulated by the government
Dispossession surcharge to non-financial institutions accounted into current profit/loss
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
Exchange of non-monetary assets
Assets under investment or management of trustee
Provision for assets’ depreciation under force majeure
Liabilities reorganization
Business reorganization, including staff arrangement and integration
Exceeding above the fair value in transactions whose price are obviously unfair
Business combination under the same control from the year-beginning to the combination date
Contingent affairs not related to normal operations
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
774,665.49
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
Return of provision for accounts receivable depreciation under individual impairment testing
Externally entrusted loans
Fair value changes in investment real estates adopting fair value method for subsequent calculation
Influence of once adjustment upon current profit/loss according to taxation and accounting regulations
Custodian fees from trust operation
Other non-operating income/expenditure -5,698.25
Other profit/loss items conformed to the definition of non-current profit/loss
Influence of income tax -72,048.11
Influence of minority interest (after tax) -55,281.81
Total 1,103,925.49
SGSB GROUP CO.,LTD 2012 Interim Report
12.2 Rate of return on net assets and earning per share
RMB’
Net profit Weighted rate of Earning per share
return on net assets Basic Diluted
Net profit attributable to common shareholders 4.0368 0.0641 0.0641
Net profit attributable to common shareholders after non-
3.8819 0.0616 0.0616
current profit/loss
12.3 Abnormal situations of financial statements and explanation of reason
RMB’
Item Period-end Year-beginning Ratio Reason
(or current sum) ( or previous sum)
Other receivables Mainly due to increase of sales income of Europe
224,299,948.43 162,572,715.65 37.97
subsidiary
Deferred income tax assets Mainly due to decrease of operating loss of Europe
19,204,399.11 33,313,721.14 -42.35
subsidiary
Tax payables 19,401,372.08 12,195,356.72 59.09 Mainly due to profit making in current period
Financial expense Mainly due to decrease of interest and increase of exchange
6,131,703.99 17,069,871.79 -64.08
income
Investment income 12,271,123.38 1,262,429.18 872.02 Mainly due to increase of investment
Non-operating income Mainly due to the increase in profit from disposal of fixed
607,199.08 23,736,080.70 -97.44
assets
Income tax expense 24,989,049.68 7,131,951.46 250.38 Mainly due to increase of tax expense of Europe subsidiary
13. Authorization for the publication of financial statements
The current financial statements have been authorized by the 15th meeting of the Sixth Board of
Directors on August 29, 2012 to be submitted to the related authorities and the public.
SGSB GROUP CO., ltd
August, 29, 2012
SGSB GROUP CO.,LTD 2012 Interim Report
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.
Chairman of BOD: Zhang Min
SGSB Group Co., Ltd.
August 29, 2012
