上海锦江国际实业投资股份有限公司
A 股股票代码：600650
B 股股票代码：900914
2 0 1 0 年年度报告
上海锦江国际实业投资股份有限公司 2010 年年度报告
目录
一、 重要提示................................................................................................................................ 2
二、 公司基本情况........................................................................................................................ 2
三、 会计数据和业务数据摘要.................................................................................................... 3
四、 股本变动及股东情况............................................................................................................ 5
五、 董事、监事和高级管理人员................................................................................................ 7
六、 公司治理结构...................................................................................................................... 10
七、 股东大会情况简介.............................................................................................................. 12
八、 董事会报告.......................................................................................................................... 12
九、 监事会报告.......................................................................................................................... 20
十、 重要事项.............................................................................................................................. 20
十一、 财务报告.......................................................................................................................... 26
十二、 备查文件目录.................................................................................................................. 26
1
上海锦江国际实业投资股份有限公司 2010 年年度报告
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) 如有董事未出席董事会，应当单独列示其姓名
未出席董事姓名 未出席董事职务 未出席董事的说明 被委托人姓名
蔡青峰 董事 因公务请假 杨原平
胡茂元 独立董事 因公务请假 刘永章
陆红贵 独立董事 因病请假 林莉华
(三) 德勤华永会计师事务所有限公司为本公司出具了标准无保留意见的审计报告。
(四) 公司负责人董事长沈懋兴、首席执行官杨原平、主管会计工作负责人财务总监袁哲宁及会计机构
负责人财务部经理刘朝晖声明：保证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 上海锦江国际实业投资股份有限公司
公司的法定中文名称缩写 锦江投资
公司的法定英文名称 Shanghai Jin Jiang International Industrial Investment Co., Ltd.
公司的法定英文名称缩写 JJTZ
公司法定代表人 沈懋兴
(二) 联系人和联系方式
董事会秘书 证券事务代表
姓名 于建敏（代） 黄跃冲
联系地址 上海市延安东路 100 号 28 楼 上海市延安东路 100 号 28 楼
电话 （021）63218800 （021）63218800
传真 （021）63213119 （021）63213119
电子信箱 dshms@jjtz.com zqdb@jjtz.com
(三) 基本情况简介
注册地址 上海市浦东大道 1 号
注册地址的邮政编码 200120
办公地址 上海市延安东路 100 号 28 楼
办公地址的邮政编码 200002
2
上海锦江国际实业投资股份有限公司 2010 年年度报告
公司国际互联网网址 www.jjtz.com
电子信箱 dshms@jjtz.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《大公报》
登载年度报告的中国证监会指定网站的网址 www.sse.com.cn
公司年度报告备置地点 上海市延安东路 100 号 28 楼
(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 锦江投资 600650 新锦江
B股 上海证券交易所 锦投 B 股 900914 新锦 B 股
(六) 其他有关资料
公司首次注册登记日期 1993 年 2 月 24 日
公司首次注册登记地点 上海市长乐路 161 号
企业法人营业执照注册号 310000400037314
税务登记号码 国(地)税沪字 310115607200690 号
组织机构代码 607200690
公司聘请的会计师事务所名称 德勤华永会计师事务所有限公司
公司聘请的会计师事务所办公地址 上海市延安东路 222 号外滩中心 30 楼
公司历次注册登记变更情况
1、1993 年 10 月 7 日，公司注册资本由成立时的 186,792,200 元变更为 276,792,200 元，领取新的
营业执照；1994 年 4 月 28 日，公司注册资本变更为 316,580,649 元，领取新的营业执照；1996 年 6
月 7 日，公司注册资本变更为 348,238,704 元，领取新的营业执照；1997 年 5 月 28 日，公司注册资
本变更为 417,886,444 元，领取新的营业执照；1999 年 4 月 9 日，公司注册资本变更为 501,463,734
元，领取新的营业执照；2002 年 4 月 18 日，公司注册资本变更为 551,610,107 元，领取新的营业执
照。
2、1998 年 5 月 28 日，公司名称由成立时的“上海新锦江大酒店股份有限公司”变更为“上海新锦
江股份有限公司”，领取新的营业执照；2003 年 11 月 11 日，公司名称变更为“上海锦江国际实业投
资股份有限公司”，领取新的营业执照。
3、2000 年 4 月 27 日，公司注册地址变更为上海市浦东大道 1 号，领取新的营业执照。
4、2006 年 4 月 21 日，公司经营范围变更为：车辆服务、物流服务[普通货物的仓储、装卸、加工、
包装、配送及相关信息处理服务和有关咨询服务；提供供应链、仓储、运输、库存、采购订单的管
理和咨询服务，计算机软件的开发与技术服务(涉及许可凭许可证经营)；国内货物运输代理业务、
国际货物运输代理业务]、旅游服务(非旅行社接待业务)、商务服务、宾馆、物业管理、办公用房出
租、房地产开发经营，提供商场的场地。领取新的营业执照。
三、 会计数据和业务数据摘要
(一) 主要会计数据
3
上海锦江国际实业投资股份有限公司 2010 年年度报告
单位：元 币种：人民币
项目 金额
营业利润 361,278,626.64
利润总额 385,006,738.36
归属于上市公司股东的净利润 284,207,585.89
归属于上市公司股东的扣除非经常性损益后的净利润 263,863,901.97
经营活动产生的现金流量净额 418,738,143.29
(二)非经常性损益项目和金额
单位：元 币种：人民币
项目 金额
非流动资产处置损益 1,819,093.25
计入当期损益的政府补助（与企业业务密切相关，按照国家统一标准定额或定量享
2,786,854.62
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 17,579,725.69
可供出售金融资产取得的投资收益
除上述各项之外的其他营业外收入和支出 5,491,112.64
所得税影响额 -6,331,603.61
少数股东权益影响额（税后） -1,001,498.67
合计 20,343,683.92
(三)报告期末公司前三年主要会计数据和财务指标
单位：元 币种：人民币
本期比上年同
主要会计数据 2010 年 2009 年 2008 年
期增减(%)
营业收入 1,841,582,680.33 1,598,396,220.67 15.21 1,673,685,463.73
利润总额 385,006,738.36 347,196,198.73 10.89 418,887,212.59
归属于上市公司股东的
284,207,585.89 269,430,936.79 5.48 323,105,516.48
净利润
归属于上市公司股东的
扣除非经常性损益的净 263,863,901.97 215,313,169.21 22.55 280,464,106.78
利润
经营活动产生的现金流
418,738,143.29 324,351,021.84 29.10 426,680,458.55
量净额
本期末比上年
2010 年末 2009 年末 2008 年末
同期末增减(%)
总资产 3,080,148,883.60 2,707,598,992.30 13.76 2,662,829,897.87
所有者权益（或股东权
2,015,667,920.78 1,943,007,985.34 3.74 1,793,642,647.73
益）
本期比上年同期增减
主要财务指标 2010 年 2009 年 2008 年
(%)
4
上海锦江国际实业投资股份有限公司 2010 年年度报告
基本每股收益（元／股） 0.515 0.488 5.53 0.586
稀释每股收益（元／股） 不适用 不适用 不适用 不适用
扣除非经常性损益后的基本每股收益（元
0.478 0.390 22.56 0.508
／股）
加权平均净资产收益率（%） 14.36 14.47 减少 0.11 个百分点 18.04
扣除非经常性损益后的加权平均净资产收
13.33 11.56 增加 1.77 个百分点 15.65
益率（%）
每股经营活动产生的现金流量净额（元／
0.76 0.59 28.81 0.77
股）
2010 年 本期末比上年同期末 2008 年
2009 年末
末 增减(%) 末
归属于上市公司股东的每股净资产（元／
3.65 3.52 3.69 3.25
股）
(四) 采用公允价值计量的项目
单位:元 币种:人民币
项目名称 期初余额 期末余额 当期变动 对当期利润的影响金额
可供出售金融资产 160,853,050.30 103,730,453.50 -57,122,596.80 2,087,008.70
合计 160,853,050.30 103,730,453.50 -57,122,596.80 2,087,008.70
四、 股本变动及股东情况
(一) 股本变动情况
1、 股份变动情况表
单位：股
本次变动前 本次变动增减（＋，－） 本次变动后
公积
比例 发行 送 其他（限售流 比例
数量 金转 小计 数量
(%) 新股 股 通股上市） (%)
股
一、有限售条件
157,425,450 28.54 -157,425,450 -157,425,450 0 0
股份
1、国家持股
2、国有法人持股 157,425,450 28.54 -157,425,450 -157,425,450 0 0
3、其他内资持股
其中： 境内非国
有法人持股
境内自然人持股
４、外资持股
其中： 境外法人
持股
境外自然人持股
二、无限售条件
394,184,657 71.46 157,425,450 157,425,450 551,610,107 100
流通股份
1、人民币普通股 233,134,625 42.26 157,425,450 157,425,450 390,560,075 70.80
2、境内上市的外
161,050,032 29.20 161,050,032 29.20
资股
3、境外上市的外
资股
4、其他
三、股份总数 551,610,107 100 0 0 551,610,107 100
2010 年 2 月 26 日,公司第四次有限售条件的流通股上市流通，数量为 157,425,450 股。至此，公司
5
上海锦江国际实业投资股份有限公司 2010 年年度报告
总股本 551,610,107 股均已全部流通。
2、 限售股份变动情况
单位：股
年初限售 本年解除 年末限 限售
股东名称 解除限售日期
股数 限售股数 售股数 原因
锦江国际（集团）有限公司 157,425,450 157,425,450 0 股改 2010 年 2 月 26 日
(二) 证券发行与上市情况
1、 前三年历次证券发行情况
截止本报告期末至前三年，公司未有证券发行与上市情况。
2、 公司股份总数及结构的变动情况
报告期内没有因送股、配股等原因引起公司股份总数及结构的变动。
3、 现存的内部职工股情况
本报告期末公司无内部职工股。
(三) 股东和实际控制人情况
1、 股东数量和持股情况
单位：股
报告期末股东总数 69,811（B 股 29,306）户
前十名股东持股情况
持股 持有有限 质押或冻
报告期内增
股东名称 股东性质 比例 持股总数 售条件股 结的股份
减
(%) 份数量 数量
锦江国际(集团)有限公司 国有法人 38.54 212,586,460 无
上海国际信托有限公司 国有法人 0.72 3,955,121 未知
上海锦江饭店有限公司 国有法人 0.68 3,761,493 未知
胡家英 境内自然人 0.66 3,641,310 未知
蔡青峰 境外自然人 0.65 3,578,635 -316,300 未知
HANG SENG CONSUMER SECTOR
其他 0.58 3,196,926 2,609,696 未知
FLEXIPOWER FUND
上海和平饭店有限公司 国有法人 0.33 1,839,974 未知
国 际 金 融 － 汇 丰 － TEMASEK
其他 0.30 1,663,327 899,926 未知
FULLERTON ALPHA PTE LTD
上海锦江汽车服务有限公司（工会）其他 0.29 1,600,000 未知
PACIFIC DRAGON FUND I LIMITED 其他 0.28 1,567,995 563,495 未知
前十名无限售条件股东持股情况
股东名称 持有无限售条件股份的数量 股份种类及数量
锦江国际(集团)有限公司 212,586,460 人民币普通股
上海国际信托有限公司 3,955,121 人民币普通股
上海锦江饭店有限公司 3,761,493 人民币普通股
胡家英 3,641,310 境内上市外资股
蔡青峰 3,578,635 境内上市外资股
HANG SENG CONSUMER SECTOR FLEXIPOWER FUND 3,196,926 境内上市外资股
上海和平饭店有限公司 1,839,974 人民币普通股
国际金融－汇丰－TEMASEK FULLERTON ALPHA PTE LTD 1,663,327 人民币普通股
6
上海锦江国际实业投资股份有限公司 2010 年年度报告
上海锦江汽车服务有限公司（工会） 1,600,000 人民币普通股
PACIFIC DRAGON FUND I LIMITED 1,567,995 境内上市外资股
上述股东关联关系或一致行动的说明
公司前十名股东中，第一股东和第三、第七、第九股东存在关联关系和一致行动关系。公司控股股东锦江国际（集
团）有限公司是上海锦江饭店有限公司、上海和平饭店有限公司的实际控制人。上海锦江汽车服务有限公司（工会）
是公司的下属组织。其他股东，公司未知其是否存在关联关系和一致行动关系。
2、 控股股东及实际控制人情况
(1) 控股股东情况
○ 法人
单位：亿元 币种：人民币
名称 锦江国际（集团）有限公司
单位负责人或法定代表人 俞敏亮
2003 年 6 月，在原锦江（集团）有限公司和上海新亚（集团）有限公
成立日期
司国有资产重组基础上组建
注册资本 20
国有资产经营与管理、企业投资及管理、饭店管理、游乐业配套服务、
主要经营业务或管理活动 国内贸易、物业管理、自有办公楼、公寓租赁、产权经纪及相关项目
的咨询等（以上项目涉及许可的凭许可证经营）
(2) 实际控制人情况
○ 法人
单位：元 币种：人民币
名称 上海市国有资产监督管理委员会
(3) 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。
(4) 公司与实际控制人之间的产权及控制关系的方框图
上海市国有资产监督管理委员会
100%
锦江国际（集团）有限公司
38.54%
上海锦江国际实业投资股份有限公司
3、 其他持股在百分之十以上的法人股东
截止本报告期末公司无其他持股在百分之十以上的法人股东。
五、 董事、监事和高级管理人员
(一) 董事、监事和高级管理人员持股变动及报酬情况
7
上海锦江国际实业投资股份有限公司 2010 年年度报告
单位：股
报告期内从 是否在股东
性 年 年初持股 年末持股 变动 公司领取的 单位或其他
姓名 职务
别 龄 数 数 原因 报酬总额（万 关联单位领
元）（税前） 取报酬、津贴
沈懋兴 董事长 男 60 5,646 5,646 是
杨原平 副董事长、首席执行官 男 55 5,646 5,646 50 否
于建敏 副董事长、首席运营官 女 54 45 否
陈文君 董事 女 55 5,646 5,646 是
马名驹 董事 男 49 是
张宝华 董事 男 59 是
二级市
蔡青峰 董事 男 43 3,894,935 3,578,635 否
场减持
刘永章 独立董事 男 55 8 否
胡茂元 独立董事 男 59 8 否
陆红贵 独立董事 男 59 8 否
林莉华 独立董事 女 61 8 否
刘海海 监事长 男 58 35 否
潘建畅 监事 男 51 20 否
蔡涌钧 监事 男 47 21 否
副总裁(2010 年 10 月 8 日
邵晓明 男 52 是
离任)
副总裁(2010 年 10 月 8 日
张国美 女 52 10 否
任职)
孟正伟 副总裁 男 56 23 是
袁辽骏 副总裁 男 52 31 否
袁哲宁 财务总监、董事会秘书 女 55 27 否
合计 / / / 3,911,873 3,595,573 / 294 /
上述董事、监事、高级管理人员任期起止日期为：
1、张国美任期起止日期为：2010 年 10 月 8 日起，任期至本届董事会期满；
2、副总裁邵晓明因工作变动原因提出辞职，于 2010 年 10 月 8 日离任；
3、其他董事、监事、高级管理人员任期起止日期均为：2009 年 5 月 22 日起，任期 3 年。
注：孟正伟 2010 年 10 月起在锦海捷亚国际货运有限公司领取报酬。
董事、监事、高级管理人员最近 5 年的主要工作经历：
沈懋兴：锦江国际（集团）有限公司党委副书记、副董事长、总裁，本公司董事长。
杨原平：本公司副董事长、首席执行官、党委书记。
于建敏：曾任锦江国际（集团）有限公司总裁助理兼地产事业部总经理、党委书记。现任本公司副董
事长、首席运营官（执行总裁）。
陈文君：锦江国际（集团）有限公司董事、高级副总裁，本公司董事。
马名驹：曾任锦江国际（集团）有限公司计划财务部经理。现任锦江国际（集团）有限公司副总裁，
本公司董事。
张宝华：锦江国际（集团）有限公司总裁助理，本公司董事。
蔡青峰：曾任兆丰国际集团有限公司董事，兆丰国际（上海）有限公司执行董事兼财务总监。现任兆
丰国际（上海）有限公司总经理，本公司董事。
刘永章：上海财经大学党委副书记，本公司独立董事。
胡茂元：曾任上海汽车工业（集团）总公司总裁。现任上海汽车工业（集团）总公司董事长、党委书
记，兼上海汽车集团股份有限公司董事长、党委书记，本公司独立董事。
8
上海锦江国际实业投资股份有限公司 2010 年年度报告
陆红贵：上海电气集团财务有限公司总经理、党委书记，本公司独立董事。
林莉华：上海林莉华律师事务所主任律师，本公司独立董事。
刘海海：本公司党委副书记、监事长
潘建畅：本公司监事、审计室主任。
蔡涌钧：曾任本公司办公室副主任兼上海锦江汽车服务有限公司党群工作部主任。现任本公司职工代
表监事、总裁助理兼人力资源部经理。
邵晓明：本公司副总裁兼锦海捷亚国际货运有限公司总经理。已于 2010 年 10 月 8 日离任。
张国美：曾任上海市食品（集团）公司总经理、锦江国际（集团）有限公司总裁助理。现任本公司副
总裁。
孟正伟：曾任本公司副总裁兼上海锦江国际低温物流发展有限公司总经理，现任本公司副总裁锦海捷
亚国际货运有限公司总经理。
袁辽骏：曾任上海锦江国际实业投资股份有限公司投资发展部经理。现任本公司副总裁。
袁哲宁：本公司董事会秘书、财务总监兼上海锦江汽车服务有限公司财务总监。
(二) 在股东单位任职情况
姓名 股东单位名称 担任的职务 是否领取报酬津贴
沈懋兴 锦江国际（集团）有限公司 副董事长、总裁 是
陈文君 锦江国际（集团）有限公司 董事、高级副总裁 是
马名驹 锦江国际（集团）有限公司 副总裁、金融事业部总经理 是
张宝华 锦江国际（集团）有限公司 总裁助理 是
在其他单位任职情况
姓名 其他单位名称 担任的职务 是否领取报酬津贴
上海锦江国际酒店发展股份有限公司 副董事长 否
沈懋兴
上海锦江国际酒店（集团）股份有限公司 副董事长 否
陈文君 上海锦江国际酒店（集团）股份有限公司 执行董事 否
上海锦江国际旅游股份有限公司 董事 否
马名驹
上海锦江国际酒店（集团）股份有限公司 监事 否
上海锦江国际酒店发展股份有限公司 副董事长 否
张宝华
上海锦江国际旅游股份有限公司 副董事长 否
(三) 董事、监事、高级管理人员报酬情况
董事、监事、高级管理人员报酬
董事会、股东大会审议通过等程序
的决策程序
董事、监事、高级管理人员报酬
根据年度经营目标完成情况确定报酬
确定依据
董事、监事和高级管理人员报酬
见上述“董事、监事和高级管理人员持股变动及报酬情况（表）”
的实际支付情况
(四) 公司董事、监事、高级管理人员变动情况
姓名 担任的职务 变动情形 变动原因
邵晓明 副总裁 离任 工作变动
张国美 副总裁 聘任 董事会聘任
9
上海锦江国际实业投资股份有限公司 2010 年年度报告
(五) 公司员工情况
在职员工总数 13,724
公司需承担费用的离退休职工人数 583
专业构成
专业构成类别 专业构成人数
生产人员 12,907
销售人员 204
技术人员 136
财务人员 155
管理人员 322
教育程度
教育程度类别 数量（人）
大专以上学历 912
六、 公司治理结构
(一) 公司治理的情况
报告期内，公司严格按照《公司法》、《证券法》和中国证监会有关规范性文件以及上海证券交易
所《股票上市规则》的要求，不断完善法人治理结构，规范公司运作。公司建立较为完善的内部规章
制度，股东大会、董事会、监事会、经营层各司其职、相互制衡、相互合作，董事会各专门委员会履
行职责，进一步提高董事会决策的科学性与专业性，切实维护公司股东和利益相关者的合法权益。
报告期内，公司结合自身实际情况，继续将公司治理工作推向深入，在基本制度建设、规范日常
运作、信息披露、投资者关系等方面，切实加强公司治理机制的建设与执行力度。
报告期内，公司按照证券监管部门新出台的法规和规范性文件要求，又进一步修订了《内幕信息
知情人和外部信息使用人管理制度》，公司治理制度进一步完善。
公司治理是一项长期的系统工作，公司将继续根据监管部门的有关规定不断完善公司治理，提高
公司治理水平。
(二) 董事履行职责情况
1、 董事参加董事会的出席情况
是否独 本年应参加 亲自出 以通讯方式 委托出 缺席 是否连续两次未
董事姓名
立董事 董事会次数 席次数 参加次数 席次数 次数 亲自参加会议
沈懋兴 否 9 3 6 0 0 否
杨原平 否 9 3 6 0 0 否
于建敏 否 9 3 6 0 0 否
陈文君 否 9 3 6 0 0 否
马名驹 否 9 3 6 0 0 否
张宝华 否 9 3 6 0 0 否
蔡青峰 否 9 1 6 2 0 否
刘永章 是 9 2 6 1 0 否
胡茂元 是 9 2 6 1 0 否
陆红贵 是 9 3 6 0 0 否
林莉华 是 9 3 6 0 0 否
10
上海锦江国际实业投资股份有限公司 2010 年年度报告
年内召开董事会会议次数 9
其中：现场会议次数 3
通讯方式召开会议次数 6
2、 独立董事对公司有关事项提出异议的情况
报告期内，公司独立董事未对公司本年度的董事会议案及其他非董事会议案事项提出异议。
3、 独立董事相关工作制度的建立健全情况、主要内容及独立董事履职情况
公司制定了《独立董事制度》、《独立董事年报工作制度》，就公司独立董事的任职条件、产生程序、
工作职权等作了具体的规定。
报告期内，独立董事履行了诚信和勤勉义务，积极参与公司董事会审计委员会、薪酬与考核委员
会、战略委员会的相关工作，认真履行相应职责。
报告期内，独立董事对公司高管聘任、对外担保、关联交易等事项发表了七次独立意见。
报告期内，独立董事召开两次年报工作会议，听取公司管理层关于公司年度生产经营情况及重大
事项进展情况的汇报，实地考察下属核心企业；听取公司年审注册会计师关于公司年度财务报告审计
计划和初审情况介绍，并就相关情况进行了沟通。
(三) 公司相对于控股股东在业务、人员、资产、机构、财务等方面的独立完整情况
是否独立完整 情况说明
公司具有独立完整的业务，自主经营。关联交易公平
业务方面独立完整情况 是
合理，不存在损害公司和股东利益的行为
人员方面独立完整情况 是 公司在劳动、人事及工资等方面均独立于控股股东
资产方面独立完整情况 是 公司所有资产由公司独立拥有
机构方面独立完整情况 是 公司拥有独立的决策管理机构和职能部门，独立运作
公司设有独立的财会部门，建立独立的会计核算体系
财务方面独立完整情况 是
和财务管理制度，公司独立在银行开设帐户
(四) 公司内部控制制度的建立健全情况
公司根据《公司法》、《证券法》、《会计法》、《企业内部控制基本规范》、《上市
公司内部控制指引》等有关法律法规要求，建立健全以“三会”议事规则等为
内部控制建设的总
基础的基本管理制度，下设各业务制度、工作制度，部门职能、岗位职责等涵
体方案
盖公司生产经营的各层面和各环节，体系完整、层次分明的内部控制制度，并
使之得到有效运行。
公司建立和实施内部控制制度时，着重考虑以下基本要素：目标设定、内部环
内部控制制度建立 境、风险确认、风险评估、风险管理策略选择、控制活动、信息沟通、检查监
健全的工作计划及 督。内部控制制度涵盖重大投资决策、关联交易、生产经营管理、财务管理、
其实施情况 人力资源管理、信息披露事务管理等各环节，确保各项工作有章可循，使公司
经营活动在制度框架下进行，实现公司内部控制目标。
内部控制检查监督 公司确定审计室为内部控制检查监督的具体职能部门，在董事会审计委员领导
部门的设置情况 下开展相关工作。
董事会审计委员会对审计室的审计及内部控制检查工作提出要求，予以指导。
内部监督和内部控
公司审计室对公司及公司所属子公司的经营活动、财务收支、经济效益等进行
制自我评价工作开
内部审计监督，并对其内部控制制度的建立和执行情况进行检查和评价，提交
展情况
董事会审计委员会审议。
董事会对内部控制 公司董事会进一步制订（修订）和完善内部控制制度，着力加强内部控制制度
11
上海锦江国际实业投资股份有限公司 2010 年年度报告
有关工作的安排 的落实。董事会审计委员会定期听取和审议审计室提交的内部控制检查监督工
作报告，并在此基础上对公司内部控制作出自我评估。
公司根据《企业会计准则》及国家其他规定，制订了《财务管理规定》、《预算
与财务报告相关的
管理实施办法》、《资金管理办法》、《固定资产管理规定》、《对外投资财务管理
内部控制制度的建
办法》、《委派财务总监（财务经理）管理办法》、《委派财务总监（财务经理）
立和运行情况
例会制度》等一系列基本财务管理制度，并在实际工作中予以有效实施与执行。
内部控制存在的缺 公司未发现存在内部控制设计或执行方面的重大缺陷。公司将继续完善内部控
陷及整改情况 制制度的制订、修订工作，完善业务流程，不断强化公司内部控制。
(五) 高级管理人员的考评及激励情况
根据年初董事会下达的年度经营指标、工作管理目标完成情况确定报酬。公司将进一步完善与企
业发展相匹配的对高级管理人员考评及激励机制，健全相关奖惩制度。
(六) 公司是否披露内部控制的自我评价报告或履行社会责任的报告：否
(七) 公司建立年报信息披露重大差错责任追究制度的情况
根据公司《信息披露事务管理制度》规定，信息披露义务人或知情人因工作失职或违反本制度规
定，致使公司信息披露工作出现失误或给公司带来损失的，查明原因，依情节轻重追究当事人的责任。
截止报告期内，公司未出现年报信息披露重大差错。
七、 股东大会情况简介
(一) 年度股东大会情况
决议刊登的信息披
会议届次 召开日期 决议刊登的信息披露报纸
露日期
2009 年度股东大会 2010 年 6 月 18 日 《上海证券报》、香港《大公报》 2010 年 6 月 19 日
(二) 临时股东大会情况
决议刊登的信息披
会议届次 召开日期 决议刊登的信息披露报纸
露日期
2010 年第一次临时股
2010 年 12 月 28 日 《上海证券报》、香港《大公报》 2010 年 12 月 29 日
东大会
八、 董事会报告
(一) 管理层讨论与分析
1、报告期内公司经营情况的回顾
（1）总体经营情况
报告期内，公司紧紧抓住世博商机和外部经济逐渐好转的有利时机，克服劳动力成本提高、燃料
费用不断上涨等经营成本上升、市场竞争激烈的困难，扎实推进主业发展，实现经济平稳增长，为公
司持续健康发展奠定良好基础。
公司实现营业收入 18.41 亿元，同比增加 15.21%；净利润 2.84 亿元，同比增加 5.48%；每股收益
0.515 元，同比增加 5.53%。
客运服务业
锦江汽车公司以市场为导向，继续保持良好发展态势。按照产业规划，在发展车辆规模同时，培
育新的经济增长点。
12
上海锦江国际实业投资股份有限公司 2010 年年度报告
1）紧紧抓住世博商机和市国资产业整合机遇，发展车辆规模，全年新增车辆 800 多辆，规模突破
万辆。
2）锦江大连租赁公司靠优质服务，承揽了英特尔大连公司全部外包用车服务，开发了固特异公司
长包车业务，巩固了大连汽车租赁行业规模排名第一的地位，稳妥开展汽车租赁跨区域经营收到较好
效果。
3）努力推进锦江汽车公司结构调整，“锦江汽车服务中心”一期工程完成结构封顶。同时，新建
马自达 4S 店落成开业，与大众、丰田、日产等 4S 店和别克维修站共同发挥汽修业集聚优势，不断增
加汽车售后服务的产业比重，为加快汽车修理业发展奠定基础。
物流仓储业
低温物流公司以产业升级转型为目标，重点项目建设取得突破。根据国家产业导向，引入战略投
资者，推进超低温仓储项目建设，为传统冷藏仓储业向现代低温物流业升级转型创造条件。
1）引入战略投资者工作圆满完成。公司与三井物产达成低温物流合资项目协议，签订了《股权转
让及增资合同》、《合资合同》、《产权转让合同》等。目前，完成产交所挂牌和产权交易，国家商务部
反垄断申报，取得了外商投资企业批准证书。
2）吴淞超低温仓储物流项目建成并投入运行。该项目建成，提升了低温物流公司核心竞争力，也
填补了上海市超低温冷冻冷藏领域的空白，列入 2010 年国家发改委支持项目，获得 250 万元投资支持，
同时也得到上海市商务委员会 100 万元的项目资金支持。
3）推进低温物流仓储、配送市场开发，积极探索为锦江之星等餐饮类行业提供配送服务的途径，
与水产集团就海产品低温仓储配送合作进行深入的研究。
现代物流业
锦海捷亚公司实现经济恢复性增长，浦东机场货运站取得良好经营业绩。
1）锦海捷亚各区域公司、分公司和总部物流紧紧抓住经济回暖和世博商机，利用公司网络和整体
优势进一步开发大件、展品和危险品运输业务，不断发展直客业务、特色业务和增值服务，优化业务
结构，努力培育和建立市场竞争优势，提高市场占有率。
2）锦海捷亚五大区域公司着力打造保税物流功能，逐步形成苏州、武汉、北京、青岛、重庆、上
海空港保税物流齐发展格局。苏州、武汉、重庆、北京空港保税物流业务有序展开，青岛和上海空港
保税物流业务在积极准备之中，为公司转型发展打下基础。
3）锦海捷亚加快开发沿长江船代业务和沿陇海铁路运输业务等产品。开通沿长江船代业务，沿陇
海铁路运输业务正在筹备之中。同时，把握高铁建成后原长三角区域客运铁路将改用于货运的市场契
机，展开铁路集装箱运输项目调研，为公司转型发展注入活力。
4）浦东机场货运站紧紧抓住世博机遇及外部经济逐步回暖的有利条件，取得良好经营业绩；浦东
机场西区公共货运站在去年正式营业基础上有新的提高，达到投资预期。
（2）公司主要优势和困难
优势一：“锦江”品牌优势
“锦江”品牌在国内外具有较高的知名度和良好的形象，有助于公司在客运服务业、现代物流业、
物流仓储业中的竞争和发展。
优势二：业务资源和经验积累优势
客运服务业：上海锦江汽车服务有限公司具有 50 多年的经营历史，是上海市车型品种最全，综合
接待能力行业领先的客运公司。出租汽车业务在上海出租车行业排名前列，经营水平名列前茅；商务
租赁车业务在上海商务租赁车市场的占有率名列前茅，专业化为大型会议、驻沪世界 500 强和知名企
业、高星级宾馆客户等，提供高档商务用车、包车、租赁服务，以及从事国宾、外事接待；旅游客运
业务具有国家道路旅客运输一级企业资质，主要从事大型会务、会展、商务、旅游、长途客运等用车
业务，每年接待入境旅游团队人数位居上海首位，旅游大客车经营在国内处于领先地位；汽销汽修业
13
上海锦江国际实业投资股份有限公司 2010 年年度报告
务拥有大众、丰田、日产、马自达等多家 4S 特约汽车经销店，以及一类资质的修理厂、别克等品牌
车辆特约维修站，形成汽车销售、汽车修理、售后服务、维修保养、二手车交易等一条龙服务系统。
物流仓储业：上海锦江国际低温物流发展有限公司拥有吴泾、吴淞等低温仓库，总容量 8.5 万吨，
约占上海市低温仓库总量 20%，低温仓储规模位居国内前列。其中吴泾冷藏有限公司是全国最大的低
温仓库之一，从业经验超过 20 年；吴淞罗洁冷藏有限公司拥有上海目前唯一的超低温冷库（库温接近
-60℃）。公司参股投资的浦东机场货运站公司经营着机场唯有的两个公共货运站，具有明显的资源优
势。
现代物流业：锦海捷亚国际货运有限公司创立于 1992 年，是国内最早从事国际货代业务的公司之
一。A 级货代资质、IATA 成员，连续多年在国内货代行业名列除几大“中”字巨头以外的前列，具有
较高的市场知名度。
困难一：随着我国劳动力成本、燃料价格等的不断提高，使公司客运服务业成本费用面临持续上
升的压力。
困难二：国家对出租汽车行业相关政策的变化，使公司该项业务的业绩受到一定的影响。
困难三：物流、仓储市场竞争日益激烈，国外企业进入，国内大型垄断企业自建物流系统，大量
小型企业参与，使公司物流、仓储业的经营面临挑战。
（3）公司技术创新情况
参见“报告期内总体经营情况”相关内容。
（4）主营业务及其经营情况
1）主营业务分行业、分产品情况表
单位:元 币种:人民币
营业毛 营业收入 营业成本 营业毛利率
分行业 营业收入 营业成本 利率 比上年增 比上年增 比上年增减
(%) 减(%) 减(%) （%）
车辆营 减 少 1.86
1,136,127,679.84 773,983,454.71 31.88 14.70 17.91
运业务 个百分点
汽车销 减 少 0.78
575,920,019.59 541,494,491.18 5.98 18.23 19.22
售业务 个百分点
低温物 增 加 2.52
71,251,829.63 35,392,725.55 50.33 11.72 6.33
流业务 个百分点
2）主营业务分地区情况
单位:元 币种:人民币
地区 营业收入 营业收入比上年增减（％）
上海地区 1,841,582,680.33 15.21
（5）资产负债和利润构成同比发生重大变动及影响因素
单位:元 币种:人民币
资产负债表 2010 年 2009 年 增减
变化原因说明
项目 12 月 31 日 12 月 31 日 率（%）
主要是从关联方取得借款以及预收
货币资金 757,555,245.06 549,074,409.21 38
的股权转让款及增资款
预付款项 69,163,662.16 56,922,816.63 22 本年度增加主要是预付收购营运牌
14
上海锦江国际实业投资股份有限公司 2010 年年度报告
照及车辆款
本年度减少主要是收回上海锦江公
其他应收款 28,163,555.77 53,866,096.09 -48 共交通有限公司应收款人民币 2900
万元
可供出售金 主要是股票价格下降使可供出售金
103,730,453.50 160,853,050.30 -36
融资产 融资产减少
本年度增加主要是新增了包括世博
固定资产 907,874,298.88 746,495,416.64 22
出租车在内的营运车辆
本年度增加主要是年末应付油款增
应付账款 60,870,540.61 51,298,880.63 19
加所致
递延所得税 可供出售金融资产公允价值变动使
21,363,965.91 36,401,815.26 -41
负债 递延所得税负债减少。
2010 年 1 月 1 2009 年 1 月 1 增减
利润表项目 变化原因说明
日至 12 月 31 日 日至 12 月 31 日 率（%）
本年度减少主要是公交业务出售后
营业外收入 24,672,409.27 32,024,337.44 -23
不再取得相应的补贴收入
（6）公司经营活动、投资活动和筹资活动产生的现金流量构成情况
单位:元 币种:人民币
比上年增
项 目 2010年 2009年 情况说明
减（％）
主要是本年营业收入增加及
经营活动产生的
418,738,143.29 324,351,021.84 29.10 应收帐款减少，其他应付项目
现金流量净额
增加
投资活动产生的 主要是购建固定资产支出增
-159,368,755.97 -146,321,377.58
现金流量净额 加
筹资活动产生的 主要是本年度向锦江集团借
-50,784,795.26 -238,560,808.36
现金流量净额 款1.3亿
（7）主要控股和参股公司经营情况及业绩
单位:万元 币种:人民币
直接、
公司名 注册 营业
主营范围 间接持 总资产 净资产 净利润
称 资本 收入
股比
上海锦 大小客车出租服
江汽车 务、旅游、汽车修
95% 33,849 165,431.55 88,776.82 173,289.60 17,632.34
服务有 理、长途客运、汽
限公司 车配件、客车租赁
仓储物流管理服务
上海锦江
及相关业务咨询，
国际低温
存货管理服务，货 100% 7,500 24,179.96 9,517.50 7,203.36 667.30
物流发展
物运输代理管理，
有限公司
商务信息咨询
锦海捷 承办海运、空运进 1,000
50% 64,012.73 22,939.44 242,752.53 2,857.27
亚国际 出口货物、国际展 万美圆
15
上海锦江国际实业投资股份有限公司 2010 年年度报告
货运有 品及私人物品的国
限公司 际运输代理业务，
办理快递(不含私
人信函)业务
上海大 出租汽车、驾驶员
众新亚 培训、汽车配件销
出租汽 售、汽车维护(涉及 49.5% 3,000 19,221.31 16,131.36 12,054.42 2,049.56
车有限 许可经营的凭许可
公司 证经营)
上海浦 为各航空公司、货
东国际 代公司和货主提供
机场货 进出港货物、邮件 13% 31,161 120,668.42 108,513.09 86,991.10 48,410.07
运站有 在浦东国际机场货
限公司 运站内的处理服务
2、公司未来发展的展望
（1）行业发展趋势及公司面临的市场竞争格局
公司客运服务业主要包括出租汽车业务、商务租赁车业务、旅游客运业务和汽销汽修业务等。出
租汽车业务受政府运营牌照总量控制，业绩取决于营运数量扩张和服务质量提升，同时也受到国家行
业相关政策变化的影响，公司目前在上海出租车行业排名前列；商务租赁车业务随着上海旅游和对外
经济发展，需求将稳定增长，但来自国内企业和外资企业的竞争已日趋激烈；旅游客运业务市场虽已
进入充分竞争状态，但公司仍有较强的相对优势；汽销汽修业务目前行业集中度较低，尚未形成真正
有影响力的领先企业，行业有较大发展潜力，公司已涉足别克、丰田、日产、大众和马自达等品牌，
正积极拓展新项目。
公司物流仓储业主要包括低温仓储业务和机场货运站仓储业务。低温仓储业随着国家经济的发展，
需求将日益扩大，具有广阔的发展空间。公司目前主要面临外资的进入和国内食品零售企业配送业务
内部化趋势的挑战；机场货运站仓储业随着国家航空运输业的发展，具有很好的发展前景。
公司现代物流业主要是国际货运代理及相关业务。物流业受我国巨大的经济总量及与世界经济的
紧密融合带动，有较大发展潜力。公司目前主要面临国际强势物流企业进入及国内中小物流企业增加
所带来的竞争。
（2）公司发展机遇和战略
公司发展机遇：我国经济发展为现代服务业带来机遇，促使客运服务、现代物流、物流仓储业的
社会需求不断增长；上海产业结构战略调整，将加快形成服务经济为主的产业结构，为客运服务、现
代物流、物流仓储业进一步发展提供较大的空间。
公司发展战略：发展客运服务业新的增长点，探索现代物流和物流仓储业新的业务模式。努力提
升品牌优势，培育核心主业的创新能力和投融资能力，把公司打造成长三角地区一流的以客运服务、
现代物流、物流仓储为核心的现代服务业投资运营企业。
（3）公司 2011 年度经营工作重点
2011 年是“十二五”规划起步年，公司要在董事会领导下，紧紧围绕“十二五”时期发展目标和
任务，以科学发展为主题，以市场为导向，克服客运市场竞争激烈，劳动力和燃料费用成本不断提高，
低温仓储配送尚未体现规模效应等困难，推进结构调整和升级转型，保持核心业务平稳发展，不断提
升核心竞争力，努力推进上市公司持续健康发展。
客运服务业
16
上海锦江国际实业投资股份有限公司 2010 年年度报告
进一步提高锦江汽车公司经济运行质量与效益。围绕“十二五“时期产业发展战略，调整优化结
构，转变经济增长方式，加大车辆规模，推进修理业新的经济增长点建设，扩大电子商务经济优势，
坚持增量、增效同步发展。
1）继续推进“锦江汽车服务中心”项目建设。积极谋求品牌车集约化销售，为客户提供观车、购
车、修车、租车、学车、停车及其他汽车服务配套的一条龙服务，逐步把吴中路 100 号基地创建、培
育成现代汽销汽修基地和一站式多功能汽车服务园区，推进客运服务业结构调整。
2）以市场手段，稳妥有序推进车辆资产收购。同时，借鉴“与客户共成长”成功经验，依托大股
东资源优势，努力探索租赁车向长三角布网拓展之路，推进车辆规模发展上新台阶。
3）继续推进电子商务平台建设，发挥资源集成和联动效应，不断完善丰富锦江汽车电子商务平台
销售服务功能，增强核心竞争力。
物流仓储业
着力推动低温物流公司升级转型。在引入战略投资者的基础上，抓住消费升级商机，扩大经营规
模，提升核心竞争力。
1）要利用三井物产在亚太地区的贸易优势，及其在仓储配送领域的先进技术和管理经验，进一步
抓好合资项目运营。探索研究“中日快航配送”设立“区外公共低温保税库”的可能性，努力提升低
温仓储配送规模和盈利能力。
2）为加快低温物流公司发展，拟收购“新天天”低温物流公司股权，增强配送功能，适应市场需
求，延长产业链。
3）加强与锦江之星、网上购物等商贸企业合作，继续做好仓储配送市场开发前期相关工作。同时，
积极谋求强强联手、合作发展的新途径，进一步加强与水产集团的沟通、协作，探索研究深海产品冷
藏配送合作共赢模式。
现代物流业
重点推进锦海捷亚公司经济平稳增长，不断完善内部管理，加大产品开发力度，创新服务方式，
提高经济效益。
1）锦海捷亚各区域公司、分公司和总部物流进一步利用网络和整体优势，加强直客业务和特色业
务的联合销售力度，同时继续做好大客户的开发维护，努力扩大市场竞争优势，不断提高市场份额。
2）锦海捷亚五大区域公司在保税物流上取得突破。苏州、武汉、重庆、北京等保税物流业务进一
步扩大，青岛、上海浦东机场保税物流业务开发加快推进，着力提升五大区域公司保税物流业务的盈
利能力。
3）锦海捷亚沿长江和陇海“两线”业务同步推进。长江线重点发展沿长江船代业务，在已有航运
业务基础上，开发水路运输与陆路、海运相结合产品；陇海线加快打造沿陇海线铁路运输业务，努力
开发铁铁联运和铁海联运等产品，促进新的业务增长，为公司转型发展打下基础。
4）浦东机场货运站在已有基础上力争取得良好经营业绩，浦东机场西区公共货运站经营业务有新
的提高。
（4）资金需求、使用计划以及资金来源情况
2011 年，公司投资活动现金流出主要是车辆更新和主业发展的投资支出，约 5 亿元。资金主要来
源于自有资金和银行贷款。
（5）经营风险分析
17
上海锦江国际实业投资股份有限公司 2010 年年度报告
风险因素 风险原因 对策和措施
1、随着我国劳动力成本、燃料价格等的不断提高，使公司客运服
务业成本费用面临持续上升的压力
宏观政策方面
2、国家对出租汽车行业相关政策的变化，使公司该项业务的业绩 详见 “公司
受到一定的影响。 2011 年度经
物流、仓储市场竞争日益激烈，国外企业进入，国内大型垄断企业 营计划”
市场经营方面 自建物流系统，大量小型企业参与，使公司物流、仓储业的经营面
临挑战
（6）公司是否披露过盈利预测或经营计划：否
（7）公司是否编制并披露新年度的盈利预测：否
(二) 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。
(三) 陈述董事会对公司会计政策、会计估计变更、重大会计差错更正、重大遗漏信息补充以及业绩预
告修正的原因及影响的讨论结果，以及对有关责任人采取的问责措施及处理结果
报告期内，公司无会计政策、会计估计变更、重大会计差错更正、重大遗漏信息补充以及业绩预
告修正。
(四) 董事会日常工作情况
1、 董事会会议情况及决议内容
决议刊登的信息 决议刊登的信
会议届次 召开日期 决议内容
披露报纸 息披露日期
审议通过《关于转让上海锦江国际
第六届董事会 2010 年
低温物流发展有限公司股权并引
第五次会议 2 月 12 日
入战略合作者对其增资的议案》
第六届董事会 2010 年 审议通过《关于解散世联锦江物流
第六次会议 2 月 24 日 有限公司的议案》
第六届董事会 2010 年 《上海证券报》、 2010 年
见公司公告
第七次会议 4月7日 香港《大公报》 4月9日
第六届董事会 2010 年 审议通过《2010 年第一季度报告》
第八次会议 4 月 28 日 过
第六届董事会 2010 年 《上海证券报》、 2010 年
见公司公告
第九次会议 5 月 27 日 香港《大公报》 5 月 28 日
第六届董事会 2010 年 审议通过《2010 年半年度报告及
第十次会议 8 月 27 日 摘要》。
第六届董事会 2010 年 《上海证券报》、 2010 年
见公司公告
第十一次会议 10 月 8 日 香港《大公报》 10 月 11 日
18
上海锦江国际实业投资股份有限公司 2010 年年度报告
审议通过《2010 年第三季度报告》、
2010 年
第六届董事会 《关于同意上海锦江汽车服务有
10 月 25
第十二次会议 限公司向锦江国际（集团）有限公
日
司申请借款的议案》
第六届董事会 2010 年 《上海证券报》、 2010 年
见公司公告
第十三次会议 12 月 7 日 香港《大公报》 12 月 8 日
2、 董事会对股东大会决议的执行情况
报告期内，公司董事会严格执行股东大会的各项决议，认真履行职责，及时完成股东大会决议通
过的各项任务。
3、 董事会下设的审计委员会相关工作制度的建立健全情况、主要内容以及履职情况汇总报告
公司制定了《董事会审计委员会实施细则》、《董事会审计委员会年报工作规程》，就董事会审计委
员会的人员组成、职责权限、决策程序、议事规则、年报工作规程等作了具体的规定。
报告期内，公司董事会审计委员会严格按照《公司法》、《公司章程》和《董事会审计委员会工作
细则》授予的职权，根据中国证监会的相关要求，对公司内部控制工作、公司 2010 年度经营情况、2010
年半年度报告、2010 年年度报告及财务报表的编制情况，履行了必要的监督程序。
2010 年半年度报告、2010 年年度报告编制期间，公司董事会审计委员会先后召开三次会议，听取
公司管理层关于公司生产经营情况及重大事项进展情况的汇报，财务总监对公司财务状况和经营成果
的汇报，公司年审注册会计师关于公司年度财务报告审计计划和初审情况介绍，实地考察下属核心企
业，并审议通过相关议案、报告。
4、 董事会下设的薪酬委员会的履职情况汇总报告
公司董事会薪酬与考核委员会严格按照《公司法》、《公司章程》和《董事会薪酬与考核委员会实
施细则》授予的职权，认真维护全体股东的权益。
2010 年年度报告编制期间，公司董事会薪酬委员会召开会议，审议通过公司高级管理人员薪酬等
相关议案。
5、 公司对外部信息使用人管理制度的建立健全情况
公司制订了《内幕信息知情人和外部信息使用人管理办法》，加强对外部单位报送信息的管理。
6、 内幕信息知情人管理制度的执行情况
公司自查，内幕信息知情人是否在影响公司股价的重大敏感信息披露前利用内幕信息买卖公司股
份的情况？否
(五) 利润分配或资本公积金转增股本预案
利润分配预案为：按 2010 年末总股本 551,610,107 股为基数,向全体股东每 10 股派发现金红利 3.00
元(含税)，B 股折成美元发放，合计分配现金股利 165,483,032.10 元。以上预案提请股东大会审议。
(六) 公司前三年分红情况
单位：元 币种：人民币
现金分红的数额 分红年度合并报表中归属 占合并报表中归属于上市公司
分红年度
（含税） 于上市公司股东的净利润 股东的净利润的比率(%)
2007 220,644,042.80 312,593,159.85 71
19
上海锦江国际实业投资股份有限公司 2010 年年度报告
2008 165,483,032.10 323,105,516.48 51
2009 165,483,032.10 269,430,936.79 61
九、 监事会报告
(一) 监事会的工作情况
召开会议的次数 4
监事会会议情况 监事会会议议题
2009 年度监事会工作报告
第届届监事会第四次会议于 2010 年 4 月 7 日召开
2009 年度报告及摘要
第六届监事会第五次会议于 2010 年 4 月 28 日召开 2010 年第一季度报告
第六届监事会第六次会议于 2010 年 8 月 27 日召开 2010 年半年度报告及摘要
第六届监事会第七次会议于 2010 年 10 月 25 日召开 2010 年第三季度报告
(二) 监事会对公司依法运作情况的独立意见
公司董事会能够依法规范运作，经营决策程序合法，公司已建立较完善的法人治理结构和内部控
制制度。监事会未发现公司董事及高级管理人员在执行职务时有违反法律、法规、《公司章程》、或有
损公司和股东利益的行为。
(三) 监事会对检查公司财务情况的独立意见
公司的财务制度健全，财务运行稳健，会计处理方法选用适当。德勤华永会计师事务所有限公司
对本公司出具了 2010 年度标准无保留意见的审计报告，该报告真实地反映了公司的财务状况和经营成
果。
(四) 监事会对公司收购、出售资产情况的独立意见
公司在收购、出售资产过程中，严格遵守公允原则，交易价格的制定根据独立评估机构的评估报
告为基准，经双方协商确定。交易程序合法。监事会未发现有损公司和股东利益的情况。
(五) 监事会对公司关联交易情况的独立意见
公司在与关联方的关联交易中，坚持公平、公正、公开的原则，交易价格按照独立评估机构的评
估报告为基准，经双方协商确定。交易过程按规范程序进行，符合相关法律法规的要求。监事会未发
现有损股东权益或造成公司资产流失的行为。
十、 重要事项
(一) 重大诉讼仲裁事项
本年度公司无重大诉讼、仲裁事项。
(二) 破产重整相关事项及暂停上市或终止上市情况
本年度公司无破产重整相关事项。
(三) 公司持有其他上市公司股权、参股金融企业股权情况
1、 持有其他上市公司股权情况
20
上海锦江国际实业投资股份有限公司 2010 年年度报告
单位：元
占该公
证券代 司股权 报告期所有者权
证券简称 最初投资成本 期末账面价值 报告期损益
码 比例 益变动
（％）
601328 交通银行 14,142,941.50 <1 56,357,837.96 1,922,712.70 -24,970,673.28
600655 豫园商城 1,861,827.95 <1 26,183,276.40 87,320.56 -4,009,622.31
601727 上海电气 497,340.08 <1 10,125,120.00 - -969,826.50
600631 百联股份 722,460.04 <1 5,950,733.00 46,825.44 -6,034,576.73
600643 爱建股份 754,686.92 <1 3,808,000.00 - -8,324,343.10
600642 申能股份 205,333.33 <1 839,300.00 30,000.00 -594,775.00
600082 海泰发展 90,000.00 <1 466,186.14 - -158,687.66
合计 18,274,589.82 103,730,453.50 2,086,858.70 -45,062,504.58
注：以上股权会计核算科目均为：可供出售金融资产
以上股份来源均为：法人股认购
2、 持有非上市金融企业股权情况
占该公司 报告期所
所持对象 最初投资成 持有数量 期末账面价 报告期损益 会计核 股份
股权比例 有者权益
名称 本（元） （股） 值（元） （元） 算科目 来源
（%） 变动（元）
国泰君安
长期股
证券股份 47,649,967 47,649,967 1.014 47,649,967 4,764,996.70 0 认购
权投资
有限公司
合计 47,649,967 47,649,967 / 47,649,967 4,764,996.70 0 / /
2007 年 4 月 6 日，公司董事会通过《关于增资国泰君安证券股份有限公司的议案》，决定增资认
购国泰君安股份有限公司 1,413 万股。公司已支付认购款项，待国泰君安证券股份有限公司增资扩股
方案取得中国证监会等批准后，予以确权。确权后，公司将合计持有国泰君安证券股份有限公司 6,178
万股股权。
3、买卖其他上市公司股份的情况
买卖 期初股份 报告期买入/卖出 期末股份 使用的资金 产生的投资收
股份名称
方向 数量（股） 股份数量（股） 数量（股） 数量（元） 益（元）
卖出 百联股份 821,000 430,788 390,212 不适用 6,081,036.48
卖出 爱建股份 1,461,533 1,061,533 400,000 不适用 8,526,629.27
卖出 申能股份 150,000 40,000 110,000 不适用 271,291.40
卖出 豫园商城 1,158,507 85,000 1,946,712 不适用 1,789,281.32
报告期内卖出申购取得的新股产生的投资收益总额 911,487.22 元。
(四) 报告期内公司收购及出售资产、吸收合并事项
本年度公司无重大收购及出售资产、吸收合并事项
(五) 报告期内公司重大关联交易事项
1、 与日常经营相关的关联交易
21
上海锦江国际实业投资股份有限公司 2010 年年度报告
单位:万元 币种:人民币
关联交易 关联交 占同类交易金
关联交易方 关联关系 关联交易内容
类型 易金额 额的比例(%)
锦江国际(集团)有限公司 控股股东 提供劳务 车辆客运收入 155 <1
上海锦江国际旅游股份有 控股股东的
提供劳务 车辆客运收入 1,127 <1
限公司 控股子公司
锦江国际(集团)有限公司 控股股东下
提供劳务 管理服务收入 23 <1
下属公司 属公司
锦江国际(集团)有限公司 控股股东下
购买商品 采购物品 21 <1
下属公司 属公司
控股股东的
锦江之星旅馆有限公司 接受劳务 管理费用 69 100
下属公司
接受资产
锦江国际(集团)有限公司 控股股东 利息支出 75 24
使用权
土地使用权、房
锦江国际(集团)有限公司 控股股东 其它流出 312 <5
屋租赁
合计 - - - 1,782 -
上述关联交易关联交易定价原则：参照市场价格
上述关联交易关联交易结算方式：货币资金
上述关联交易是公司日常必要的业务往来，有利于公司降低生产经营成本和销售费用。
此类关联交易占公司同类交易或总交易量的比例较小，对公司本期以及未来财务状况、经营成果
的影响很小。此类关联交易不影响公司的独立性。
2、 资产收购、出售发生的关联交易
单位: 万元 币种:人民币
关联 转让资 转让资 关联交 转让资
关联 关联交易 关联交易 转让
关联方 交易 产的账 产的评 易结算 产获得
关系 内容 定价原则 价格
类型 面价值 估价值 方式 的收益
锦江国 上海东锦 企业评估
际 ( 集 控股 股权 江大酒店 价值为基 货币
1,657 1,758 1,758 101
团)有限 股东 转让 有限公司 础进行定 资金
公司 1.87%股权 价
3、 关联债权债务往来
单位：万元 币种：人民币
向关联方提供资金 关联方向上市公司提供资金
关联方 关联关系
发生额 余额 发生额 余额
锦江国际(集
控股股东 - - 20,000 13,000
团)有限公司
上海锦江汽车服务有限公司为拓展客运业务向锦江国际（集团）有
关联债权债务形成原因
限公司(通过锦江国际集团财务有限公司委托贷款)拆借资金
(六) 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
22
上海锦江国际实业投资股份有限公司 2010 年年度报告
本年度公司无重大托管事项。
(2) 承包情况
本年度公司无重大承包事项。
(3) 租赁情况
本年度公司无重大租赁事项。
2、 担保情况
单位: 万元 币种:人民币
公司对外担保情况（不包括对控股子公司的担保）
担保方与 担保 担保 担保是否 是否存 是否为关
担保 担保
担保方 上市公司 被担保方 起始 到期 已经履行 在反担 联方担保
金额 类型
的关系 日 日 完毕 保 关联关系
上海锦江 公司的 上海永达风 2010 2012 联带
汽车服务 控股子 度汽车销售 360 年 4 月 年 4 月 责任 否 否 否
有限公司 公司 有限公司 12 日 12 日 担保
上海锦江 公司的 上海永达风 2010 2013 联带
汽车服务 控股子 度汽车销售 400 年2月 年2月 责任 否 否 否
有限公司 公司 有限公司 5日 6日 担保
上海锦江 公司的 上海永达风 2010 2011 联带
汽车服务 控股子 度汽车销售 800 年1月 年1月 责任 否 否 否
有限公司 公司 有限公司 8日 7日 担保
上海锦江 公 司 控 2010 2011
上海南站长 联带
商旅汽车 股 子 公 年 12 年 12
途 客 运 有 限 1,250 责任 否 否 否
服务股份 司 的 下 月 20 月 19
公司 担保
有限公司 属公司 日 日
报告期内担保发生额合计（不包括对子公司的担保） 3,002
报告期末担保余额合计（A）（不包括对子公司的担保） 2,432
公司对控股子公司的担保情况
报告期内对子公司担保发生额合计 1,580
报告期末对子公司担保余额合计（B） 750
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） 3,182
担保总额占公司净资产的比例(%) 1.58
其中：
为股东、实际控制人及其关联方提供担保的金额（C）
直接或间接为资产负债率超过 70％的被担保对象提供的债务担
750
保金额（D）
担保总额超过净资产 50％部分的金额（E）
上述三项担保金额合计（C+D+E） 750
3、 委托理财情况
本年度公司无重大委托理财事项。
23
上海锦江国际实业投资股份有限公司 2010 年年度报告
4、 其他重大合同
本年度公司无其他重大合同。
(七) 承诺事项履行情况
1、 公司或持股 5%以上股东在报告期内或持续到报告期内的承诺事项
锦江国际（集团）有限公司股改承诺:
承诺内容 履行情况
1、持有的非流通股股份自获得在 A 股市场上的“上市流通权”之日起 12 个月 1、限售期承诺于
后的 12 个月内，不通过上海证券交易所挂牌交易。 2010 年 2 月 26 日
2、在前项承诺期期满后，通过上海证券交易所挂牌交易出售的股份数量占公 履行完毕。
司股份总数的比例在 12 个月内不超过 5%，在 24 个月内不超过 10%；通过上海 2、利润分配承诺已
证券交易所挂牌交易出售获得流通权的股份数量达到公司股份总数 1%的，将 在公司 2005、2006、
自该事实发生之日起两个工作日内做出公告。 2007 年度利润分配
3、在股权分置改革方案实施之后，将在上海锦江国际实业投资股份有限公司 中履行完毕。
2005 年度至 2007 年度连续三年的年度股东大会上提议利润分配比例不低于 3、至此所有承诺均
当年实现可分配利润的 50%，并保证在年度股东大会表决时对该议案投赞成票。 已履行完毕。
(八) 聘任、解聘会计师事务所情况
单位:万元 币种:人民币
是否改聘会计师事务所： 否
现聘任
境内会计师事务所名称 德勤华永会计师事务所有限公司
境内会计师事务所报酬 178
境内会计师事务所审计年限 18
(九) 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
本年度公司及其董事、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) 公司是否被列入环保部门公布的污染严重企业名单：否
(十一) 其他重大事项的说明
1、上海锦江国际酒店（集团）股份有限公司向锦江国际（集团）有限公司收购其持有的本公司
212,586,460 股股份事项
2010 年 8 月 13 日,锦江国际（集团）有限公司（以下简称"锦江国际"）与上海锦江国际酒店（集
团）股份有限公司（以下简称"锦江酒店"）签署《股份转让协议》。根据《股份转让协议》，锦江酒店
以向锦江国际非公开发行内资股和支付现金对价的方式收购其持有的本公司 212,586,460 股股份。
2011 年 2 月 14 日，上述股份转让完成过户登记，锦江酒店成为本公司的第一大股东，锦江国际
不再持有本公司股份。
本公司已按相关规定取得外商投资企业批准证书，并已办理工商变更登记手续。 (详见本公司
2010 年 8 月 2 日、2010 年 8 月 9 日、2010 年 8 月 14 日、2010 年 9 月 10 日、2010 年 10 月 12 日、2010
年 11 月 16 日、2011 年 1 月 29 日、2011 年 2 月 17 日在《上海证券报》、《大公报》、上海证券交易所
网站 http://www.sse.com.cn 刊登的公告)。
2、上海锦江国际低温物流发展有限公司引入战略合作者转让股权并对其增资事项
24
上海锦江国际实业投资股份有限公司 2010 年年度报告
2010 年 5 月 25 日，公司发布《关于上海锦江国际低温物流发展有限公司引入战略合作者转让股
权并对其增资的进展情况公告》。三井物产株式会社全资子公司 Mitsui & Co.(Asia Pacific) Pte.Ltd.
已通过上海联合产权交易所取得公司持有的锦江低温 38.33％股权以及上海锦江汽车服务有限公司持
有的锦江低温 5％股权受让权，并同时取得对锦江低温的增资权。上述 38.33％和 5％股权转让价分别
为人民币 79,374,778.50 元和人民币 10,354,132.50 元，上述增资金额为人民币 23,022,718 元（其中，
人民币 8,338,235 元用于增资注册资本，剩余部分计入锦江低温资本公积金）。
2011 年 1 月，本次股权转让及增资交易通过商务部反垄断局审查，Mitsui & Co.(Asia Pacific)
Pte.Ltd. 将本次股权转让及增资交易全部资金汇入上述各相关公司，锦江低温亦完成相应的工商登记
变更。
本次股权转让及增资后，锦江低温注册资本调整为人民币 83,338,235 元。股权结构调整为：本公
司持 51％股权，Mitsui & Co.(Asia Pacific)Pte.Ltd.持 49％股权。(详见本公司 2010 年 5 月 25 日、
2011 年 1 月 25 日在《上海证券报》、《大公报》、上海证券交易所网站 http://www.sse.com.cn 刊登的
公告)。
（十二）信息披露索引
事项 刊载的报刊名称及版面 刊载日期
股改限售流通股上市公告 《上海证券报》A7 2010 年 2 月 23 日
第六届董事会第七次会议决议公告 《上海证券报》B41、香港《大公报》B9 2010 年 4 月 9 日
第六届监事会第四次会议决议公告 《上海证券报》B41、香港《大公报》B9 2010 年 4 月 9 日
2010 年度预计日常关联交易公告 《上海证券报》B41、香港《大公报》B9 2010 年 4 月 9 日
2009 年度报告 《上海证券报》B41、香港《大公报》B9 2010 年 4 月 9 日
2010 年第一季度报告 《上海证券报》B98、香港《大公报》A25 2010 年 4 月 30 日
关于上海锦江国际低温物流发展有
限公司引入战略合作者转让股权并 《上海证券报》B32、香港《大公报》B10 2010 年 5 月 25 日
对其增资的进展情况公告
第六届董事会第九次会议决议公告
《上海证券报》B35、香港《大公报》B9 2010 年 5 月 28 日
暨召开 2009 年度股东大会的通知
2009 年度股东大会决议公告 《上海证券报》23、香港《大公报》B3 2010 年 6 月 19 日
2009 年度利润分配实施公告 《上海证券报》B31、香港《大公报》B9 2010 年 7 月 13 日
关于调整 2009 年度现金红利发放日
《上海证券报》B13、香港《大公报》B3 2010 年 7 月 16 日
的公告
重大事项停牌公告 《上海证券报》27、香港《大公报》B2 2010 年 8 月 2 日
关联交易公告 《上海证券报》B26、香港《大公报》B9 2010 年 8 月 5 日
重大事项进展公告 《上海证券报》14、香港《大公报》C7 2010 年 8 月 9 日
复牌提示性公告 《上海证券报》60、香港《大公报》B9 2010 年 8 月 14 日
2010 年半年度报告 《上海证券报》B45、香港《大公报》A29 2010 年 8 月 31 日
关于上海锦江国际酒店（集团）股份
有限公司申请延期提交豁免要约收 《上海证券报》B21、香港《大公报》C7 2010 年 9 月 10 日
购补正材料的公告
第六届董事会第十一次会议决议公告 《上海证券报》33、香港《大公报》B2 2010 年 10 月 11 日
关于邵晓明先生辞去公司副总裁职务的公告 《上海证券报》33、香港《大公报》B2 2010 年 10 月 11 日
关于公司国有股东所持股份转让事
《上海证券报》B35、香港《大公报》B6 2010 年 10 月 12 日
宜进展情况公告
2010 年第三季度报告 《上海证券报》B21、香港《大公报》C4 2010 年 10 月 27 日
2010 年半年度报告更正公告 《上海证券报》57、香港《大公报》C5 2010 年 10 月 30 日
关于公司国有股东所持股份转让事
《上海证券报》B27、香港《大公报》B3 2010 年 11 月 16 日
宜进展情况公告
25
上海锦江国际实业投资股份有限公司 2010 年年度报告
第六届董事会第十三次会议决议公
告暨召开 2010 年第一次临时股东大 《上海证券报》B28、香港《大公报》B9 2010 年 12 月 8 日
会的通知
2010 年第一次临时股东大会决议公告 《上海证券报》B41、香港《大公报》C7 2010 年 12 月 29 日
上述信息披露刊载的互联网网站及检索路径: 上海证券交易所网站 http://www.sse.com.cn
十一、财务报告
德勤华永会计师事务所有限公司已为本公司出具了标准无保留意见的审计报告。
（一） 审计报告（附后）
（二） 财务报表（附后）
（三） 会计报表附注（附后）
十二、备查文件目录
（一）载有法定代表人签名的半年度报告文本；
（二）载有公司负责人、主管会计工作的负责人、会计机构负责人签名并盖章的财务报告文本；
（三）报告期内在中国证监会指定报刊上公开披露过的所有文件的正本及公告的原稿。
董事长：沈懋兴
上海锦江国际实业投资股份有限公司
2011 年 3 月 29 日
26
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日止年度
财务报表及审计报告
上海锦江国际实业投资股份有限公司
财务报表及审计报告
2010 年 12 月 31 日止年度
内容 页码
审计报告 1-2
公司及合并资产负债表 3-4
公司及合并利润表 5-6
公司及合并现金流量表 7-8
公司及合并股东权益变动表 9 - 10
财务报表附注 11 – 80
审计报告
德师报(审)字(11)第 P0496 号
上海锦江国际实业投资股份有限公司全体股东：
我们审计了后附的上海锦江国际实业投资股份有限公司(以下简称“锦江投资”)的财务报表，包括 2010
年 12 月 31 日的公司及合并资产负债表、2010 年度的公司及合并利润表、公司及合并股东权益变动表和
公司及合并现金流量表以及财务报表附注。
一、管理层对财务报表的责任
编制和公允列报财务报表是锦江投资管理层的责任，这种责任包括：(1)按照企业会计准则的规定编
制财务报表，并使其实现公允反映；(2)设计、执行和维护必要的内部控制，以使财务报表不存在由于舞
弊或错误而导致的重大错报。
二、注册会计师的责任
我们的责任是在执行审计工作的基础上对财务报表发表审计意见。我们按照中国注册会计师审计准
则的规定执行了审计工作。中国注册会计师审计准则要求我们遵守中国注册会计师职业道德守则，计划
和执行审计工作以对财务报表是否不存在重大错报获取合理保证。
审计工作涉及实施审计程序，以获取有关财务报表金额和披露的审计证据。选择的审计程序取决于
注册会计师的判断，包括对由于舞弊或错误导致的财务报表重大错报风险的评估。在进行风险评估时，
注册会计师考虑与财务报表编制和公允列报相关的内部控制，以设计恰当的审计程序，但目的并非对内
部控制的有效性发表意见。审计工作还包括评价管理层选用会计政策的恰当性和作出会计估计的合理性，
以及评价财务报表的总体列报。
我们相信，我们获取的审计证据是充分、适当的，为发表审计意见提供了基础。
第1页
三、审计意见
我们认为，锦江投资财务报表在所有重大方面按照企业会计准则的规定编制，公允反映了锦江投资
2010 年 12 月 31 日的公司及合并财务状况以及 2010 年度的公司及合并经营成果和公司及合并现金流量。
德勤华永会计师事务所有限公司 中国注册会计师﹕唐恋炯、席小敏
中国上海
2011 年 3 月 29 日
第2页
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日
合并资产负债表
人民币元
项目 附注 年末余额 年初余额 项目 附注 年末余额 年初余额
流动资产： 流动负债：
货币资金 (五)1 757,555,245.06 549,074,409.21 短期借款 (五)18 130,000,000.00 -
应收账款 (五)3 40,827,538.38 38,396,261.33 应付票据 (五)19 12,405,900.00 -
预付款项 (五)5 69,163,662.16 56,922,816.63 应付账款 (五)20 60,870,540.61 51,298,880.63
应收股利 (五)2 3,850,263.85 4,040,836.87 预收款项 (五)21 107,382,501.97 98,009,797.19
其他应收款 (五)4 28,163,555.77 53,866,096.09 应付职工薪酬 (五)22 56,356,173.72 68,250,182.75
存货 (五)6 51,758,026.90 45,686,888.87 应交税费 (五)23 30,269,690.90 25,639,778.57
一年内到期的非流动资产 (五)7 4,230,666.67 4,230,666.67 应付股利 (五)24 20,062,281.35 20,869,833.55
流动资产合计 955,548,958.79 752,217,975.67 其他应付款 (五)25 278,494,033.96 253,038,056.93
其他流动负债 (五)26 112,784,683.10 -
流动负债合计 808,625,805.61 517,106,529.62
非流动资产： 非流动负债：
可供出售金融资产 (五)8 103,730,453.50 160,853,050.30 递延所得税负债 (五)15 21,363,965.91 36,401,815.26
长期股权投资 (五)9、10 759,135,519.02 715,080,149.87 其他非流动负债 (五)27 52,389,992.57 49,401,859.45
投资性房地产 (五)11 34,322,317.34 35,094,076.58 非流动负债合计 73,753,958.48 85,803,674.71
固定资产 (五)12 907,874,298.88 746,495,416.64 负债合计 882,379,764.09 602,910,204.33
在建工程 (五)13 61,502,091.22 56,331,734.03 股东权益：
无形资产 (五)14 236,001,365.95 215,970,246.23 股本 (五)28 551,610,107.00 551,610,107.00
长期待摊费用 845,879.31 90,690.14 资本公积 (五)29 436,404,492.81 482,469,111.16
递延所得税资产 (五)15 1,694,343.60 1,741,330.18 盈余公积 (五)30 228,288,330.29 207,894,544.31
其他非流动资产 (五)17 19,493,655.99 23,724,322.66 未分配利润 (五)31 799,364,990.68 701,034,222.87
非流动资产合计 2,124,599,924.81 1,955,381,016.63 归属于母公司股东权益合计 2,015,667,920.78 1,943,007,985.34
少数股东权益 182,101,198.73 161,680,802.63
股东权益合计 2,197,769,119.51 2,104,688,787.97
资产总计 3,080,148,883.60 2,707,598,992.30 负债和股东权益总计 3,080,148,883.60 2,707,598,992.30
附注为财务报表的组成部分。
第 3 页至第 80 页的财务报表由下列负责人签署：
法定代表人：杨原平 主管会计工作负责人：袁哲宁 会计机构负责人：刘朝晖
第3页
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日
母公司资产负债表
人民币元
项目 附注 年末余额 年初余额 项目 附注 年末余额 年初余额
流动资产： 流动负债：
货币资金 (十一)1 430,340,674.30 330,386,010.30 应付账款 795,431.21 461,579.81
应收账款 294,908.28 140,940.39 预收款项 207,150.46 335,751.23
预付款项 29,545.00 23,600.00 应付职工薪酬 (十一)10 7,332,653.19 2,723,437.25
其他应收款 (十一)2 70,680,187.79 90,733,286.55 应交税费 83,364.72 -6,687.40
存货 110,036.44 105,670.11 应付股利 20,062,281.35 20,869,833.55
其他流动资产 (十一)3 91,210,000.00 - 其他应付款 (十一)11 40,500,479.18 8,522,309.15
流动资产合计 592,665,351.81 421,389,507.35 其他流动负债 (十一)12 79,409,972.78 -
流动负债合计 148,391,332.89 32,906,223.59
非流动资产： 非流动负债：
可供出售金融资产 (十一)4 86,769,334.96 139,393,876.31 递延所得税负债 (十一)8 17,383,757.09 31,330,231.78
长期股权投资 (十一)5 975,964,257.10 993,163,368.40 非流动负债合计 17,383,757.09 31,330,231.78
投资性房地产 (十一)6 20,611,834.03 21,054,190.51 负债合计 165,775,089.98 64,236,455.37
固定资产 (十一)7 43,544,565.61 46,316,631.90 股东权益：
无形资产 884,937.80 921,682.00 股本 551,610,107.00 551,610,107.00
递延所得税资产 (十一)8 1,694,343.60 1,741,330.18 资本公积 (十一)13 432,216,934.20 474,056,358.31
其他非流动资产 (十一)9 15,262,988.76 15,262,988.76 盈余公积 228,288,330.29 207,894,544.31
非流动资产合计 1,144,732,261.86 1,217,854,068.06 未分配利润 (十一)14 359,507,152.20 341,446,110.42
股东权益合计 1,571,622,523.69 1,575,007,120.04
资产总计 1,737,397,613.67 1,639,243,575.41 负债和股东权益总计 1,737,397,613.67 1,639,243,575.41
附注为财务报表的组成部分。
第4页
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日止年度
合并利润表
人民币元
项目 附注 本年金额 上年金额
一、营业总收入 1,841,582,680.33 1,598,396,220.67
其中：营业收入 (五)32 1,841,582,680.33 1,598,396,220.67
二、营业总成本 1,661,008,289.35 1,458,205,149.65
其中：营业成本 (五)32 1,366,645,791.33 1,156,375,275.34
营业税金及附加 (五)33 42,030,518.84 39,620,080.55
销售费用 (五)34 139,207,207.78 133,160,020.35
管理费用 (五)35 114,940,890.24 135,952,071.75
财务费用 (五)36 (1,938,842.42) (6,935,662.22)
资产减值损失 (五)38 122,723.58 33,363.88
加：投资收益(损失以“－”号填列) (五)37 180,704,235.66 175,708,824.20
其中：对联营企业和合营企业的投资收益 151,808,089.26 115,570,899.37
三、营业利润(亏损以“－”号填列) 361,278,626.64 315,899,895.22
加：营业外收入 (五)39 24,672,409.27 32,024,337.44
减：营业外支出 (五)40 944,297.55 728,033.93
其中：非流动资产处置损失 901,747.50 319,630.42
四、利润总额(亏损总额以“－”号填列) 385,006,738.36 347,196,198.73
减：所得税费用 (五)41 45,921,941.00 38,152,652.85
五、净利润(净亏损以“－”号填列) 339,084,797.36 309,043,545.88
归属于母公司股东的净利润 284,207,585.89 269,430,936.79
少数股东损益 54,877,211.47 39,612,609.09
六、每股收益： (五)42
(一)基本每股收益 0.515 0.488
(二)稀释每股收益 不适用 不适用
七、其他综合收益 (五)43 (46,168,404.68) 60,323,455.31
八、综合收益总额 292,916,392.68 369,367,001.19
归属于母公司股东的综合收益总额 238,142,967.54 329,425,763.95
归属于少数股东的综合收益总额 54,773,425.14 39,941,237.24
附注为财务报表的组成部分。
第5页
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日止年度
母公司利润表
人民币元
项目 附注 本年金额 上年金额
一、营业收入 (十一)15 24,297,104.83 20,783,121.61
减：营业成本 (十一)15 3,834,512.90 3,535,007.96
营业税金及附加 1,230,354.31 1,044,666.09
销售费用 9,229,630.02 8,499,588.57
管理费用 17,545,542.47 20,934,266.71
财务费用 (4,122,347.02) (3,459,913.60)
资产减值损失 - -
加：投资收益(损失以“－”号填列) (十一)16 208,965,186.05 255,692,128.91
其中：对联营企业和合营企业的投资收益 24,123,819.71 23,031,922.20
二、营业利润(亏损以“－”号填列) 205,544,598.20 245,921,634.79
加：营业外收入 44,367.11 7,874.30
减：营业外支出 43,590.61 -
其中：非流动资产处置损失 - -
三、利润总额(亏损总额以“－”号填列) 205,545,374.70 245,929,509.09
减：所得税费用 1,607,514.84 2,930,913.57
四、净利润(净亏损以“－”号填列) 203,937,859.86 242,998,595.52
五、其他综合收益 (十一)17 (41,839,424.11) 49,374,805.50
六、综合收益总额 162,098,435.75 292,373,401.02
附注为财务报表的组成部分。
第6页
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日止年度
合并现金流量表
人民币元
项目 附注 本年金额 上年金额
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 1,976,114,895.43 1,704,408,956.61
收到其他与经营活动有关的现金 (五)44(1) 22,516,338.80 20,709,500.94
经营活动现金流入小计 1,998,631,234.23 1,725,118,457.55
购买商品、接受劳务支付的现金 964,375,720.79 820,942,403.25
支付给职工以及为职工支付的现金 449,380,037.29 409,796,563.04
支付的各项税费 95,432,514.65 85,406,855.83
支付其他与经营活动有关的现金 (五)44(2) 70,704,818.21 84,621,613.59
经营活动现金流出小计 1,579,893,090.94 1,400,767,435.71
经营活动产生的现金流量净额 (五)45(1) 418,738,143.29 324,351,021.84
二、投资活动产生的现金流量：
收回投资收到的现金 163,278,914.39 33,343,025.71
取得投资收益收到的现金 100,609,589.44 188,937,157.87
处置固定资产、无形资产和其他长期资产收回的现金净额 41,313,896.91 61,960,855.66
处置子公司及其他营业单位收到的现金净额 (五)45(2) 1,539,618.36 9,418,850.70
收到其他与投资活动有关的现金 (五)44(3) 4,230,666.67 4,230,666.67
投资活动现金流入小计 310,972,685.77 297,890,556.61
购建固定资产、无形资产和其他长期资产支付的现金 458,326,127.06 387,920,323.14
投资支付的现金 12,015,314.68 55,731,047.72
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 (五)44(4) - 560,563.33
投资活动现金流出小计 470,341,441.74 444,211,934.19
投资活动产生的现金流量净额 (159,368,755.97) (146,321,377.58)
三、筹资活动产生的现金流量：
吸收投资收到的现金 (五)26 23,022,718.00 -
其中：子公司吸收少数股东投资收到的现金 23,022,718.00 -
取得借款收到的现金 200,000,000.00 -
筹资活动现金流入小计 223,022,718.00 -
偿还债务支付的现金 70,000,000.00 25,000,000.00
分配股利、利润或偿付利息支付的现金 203,807,513.26 213,560,808.36
其中：子公司支付给少数股东的股利、利润 34,353,029.04 57,310,166.56
筹资活动现金流出小计 273,807,513.26 238,560,808.36
筹资活动产生的现金流量净额 (50,784,795.26) (238,560,808.36)
四、汇率变动对现金及现金等价物的影响 (103,756.21) -
五、现金及现金等价物净增加(减少)额 208,480,835.85 (60,531,164.10)
加：年初现金及现金等价物余额 (五)45(3) 549,074,409.21 609,605,573.31
六、年末现金及现金等价物余额 (五)45(3) 757,555,245.06 549,074,409.21
附注为财务报表的组成部分。
第7页
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日止年度
母公司现金流量表
人民币元
项目 附注 本年金额 上年金额
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 24,014,536.17 20,814,318.03
收到其他与经营活动有关的现金 4,533,764.30 3,734,646.45
经营活动现金流入小计 28,548,300.47 24,548,964.48
购买商品、接受劳务支付的现金 3,510,972.83 3,638,856.95
支付给职工以及为职工支付的现金 13,066,043.94 13,025,910.44
支付的各项税费 3,198,801.50 7,443,718.41
支付其他与经营活动有关的现金 9,711,461.54 8,491,705.79
经营活动现金流出小计 29,487,279.81 32,600,191.59
经营活动产生的现金流量净额 (十一)18(1) (938,979.34) (8,051,227.11)
二、投资活动产生的现金流量：
收回投资收到的现金 211,834,142.27 24,200,903.43
取得投资收益收到的现金 192,778,585.19 268,968,236.92
处置固定资产、无形资产和其他长期资产收回的现金
1,636.74 -
净额
收到其他与投资活动有关的现金 - 2,749,933.34
投资活动现金流入小计 404,614,364.20 295,919,073.69
购建固定资产、无形资产和其他长期资产支付的现金 270,711.00 182,255.00
投资支付的现金 173,225,314.78 51,611,210.00
投资活动现金流出小计 173,496,025.78 51,793,465.00
投资活动产生的现金流量净额 231,118,338.42 244,125,608.69
三、筹资活动产生的现金流量：
收到的其他与筹资活动有关的现金 36,030,714.33 -
筹资活动现金流入小计 36,030,714.33 -
分配股利、利润或偿付利息支付的现金 166,290,584.30 165,951,263.90
筹资活动现金流出小计 166,290,584.30 165,951,263.90
筹资活动产生的现金流量净额 (130,259,869.97) (165,951,263.90)
四、汇率变动对现金及现金等价物的影响 35,174.89 -
五、现金及现金等价物净增加额 99,954,664.00 70,123,117.68
加：年初现金及现金等价物余额 (十一)18(2) 330,386,010.30 260,262,892.62
六、年末现金及现金等价物余额 (十一)18(2) 430,340,674.30 330,386,010.30
附注为财务报表的组成部分。
第8页
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日止年度
合并股东权益变动表
人民币元
本年金额 上年金额
项目 归属于母公司股东权益 归属于母公司股东权益
少数 股东 少数 股东
未分配 未分配
股本 资本公积 盈余公积 股东权益 权益合计 股本 资本公积 盈余公积 股东权益 权益合计
利润 利润
一、上年年末余额 551,610,107.00 482,469,111.16 207,894,544.31 701,034,222.87 161,680,802.63 2,104,688,787.97 551,610,107.00 437,051,678.24 183,594,684.76 621,386,177.73 215,181,242.84 2,008,823,890.57
二、本年年初余额 551,610,107.00 482,469,111.16 207,894,544.31 701,034,222.87 161,680,802.63 2,104,688,787.97 551,610,107.00 437,051,678.24 183,594,684.76 621,386,177.73 215,181,242.84 2,008,823,890.57
三、本年增减变动金额
(一)净利润 - - - 284,207,585.89 54,877,211.47 339,084,797.36 - - - 269,430,936.79 39,612,609.09 309,043,545.88
(二)其他综合收益 - (46,064,618.35) - - (103,786.33) (46,168,404.68) - 59,994,827.16 - - 328,628.15 60,323,455.31
上述(一)和(二)小计 - (46,064,618.35) - 284,207,585.89 54,773,425.14 292,916,392.68 - 59,994,827.16 - 269,430,936.79 39,941,237.24 369,367,001.19
(三)股东投入和减少资本
1．股东投入资本 - - - - - - - - - - - -
2．股份支付计入股东权益的金额 - - - - - - - - - - - -
3．其他 - - - - - - - (14,577,394.24) - - (49,844,294.83) (64,421,689.07)
(四)利润分配
1．提取盈余公积 - - 20,393,785.98 (20,393,785.98) - - - - 24,299,859.55 (24,299,859.55) - -
2．对股东的分配 - - - (165,483,032.10) (34,353,029.04) (199,836,061.14) - - - (165,483,032.10) (43,597,382.62) (209,080,414.72)
四、本年年末余额 551,610,107.00 436,404,492.81 228,288,330.29 799,364,990.68 182,101,198.73 2,197,769,119.51 551,610,107.00 482,469,111.16 207,894,544.31 701,034,222.87 161,680,802.63 2,104,688,787.97
第9页
上海锦江国际实业投资股份有限公司
2010 年 12 月 31 日止年度
母公司股东权益变动表
人民币元
本年金额 上年金额
项目
股本 资本公积 盈余公积 未分配利润 股东权益合计 股本 资本公积 盈余公积 未分配利润 股东权益合计
一、上年年末余额 551,610,107.00 474,056,358.31 207,894,544.31 341,446,110.42 1,575,007,120.04 551,610,107.00 424,681,552.81 183,594,684.76 288,230,406.55 1,448,116,751.12
二、本年年初余额 551,610,107.00 474,056,358.31 207,894,544.31 341,446,110.42 1,575,007,120.04 551,610,107.00 424,681,552.81 183,594,684.76 288,230,406.55 1,448,116,751.12
三、本年增减变动金额
(一)净利润 - - - 203,937,859.86 203,937,859.86 - - - 242,998,595.52 242,998,595.52
(二)其他综合收益 - (41,839,424.11) - - (41,839,424.11) - 49,374,805.50 - - 49,374,805.50
上述(一)和(二)小计 - (41,839,424.11) - 203,937,859.86 162,098,435.75 - 49,374,805.50 - 242,998,595.52 292,373,401.02
(三)股东投入和减少资本
1．股东投入资本 - - - - - - - - - -
2．股份支付计入股东权益的金额 - - - - - - - - - -
3．其他 - - - - - - - - - -
(四)利润分配
1．提取盈余公积 - - 20,393,785.98 (20,393,785.98) - - - 24,299,859.55 (24,299,859.55) -
2．对股东的分配 - - - (165,483,032.10) (165,483,032.10) - - - (165,483,032.10) (165,483,032.10)
四、本年年末余额 551,610,107.00 432,216,934.20 228,288,330.29 359,507,152.20 1,571,622,523.69 551,610,107.00 474,056,358.31 207,894,544.31 341,446,110.42 1,575,007,120.04
第 10 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(一) 公司基本情况
上海锦江国际实业投资股份有限公司(以下简称“本公司”)是一家在中华人民共和国境内由原上海新锦江
大酒店改制而成的股份有限公司，总部位于上海市，成立于 1993 年 2 月 24 日。本公司于 1993 年发行的
A 股和 B 股股票在中国上海证券交易所上市。其大股东为锦江国际(集团)有限公司。
本公司及子公司(以下简称“本集团”)主要从事车辆服务、物流服务(普通货物的仓储、装卸、加工、包装、
配送(筹建)及相关信息处理服务和有关咨询服务；提供供应链、仓储、运输、库存、采购订单的管理和
咨询服务，计算机软件的开发与技术服务(涉及许可经营的凭许可证经营)；国内货物运输代理业务、国
际货物运输代理业务)、旅游服务(非旅行社接待业务)、商务服务、宾馆、物业管理、办公用房出租、房
地产开发经营，提供商场的场地。
(二) 公司主要会计政策及会计估计
1、财务报表的编制基础
本集团执行财政部于 2006 年 2 月 15 日颁布的企业会计准则。此外，本集团还按照《公开发行证券的公
司信息披露编报规则第 15 号—财务报告的一般规定》(2010 年修订)披露有关财务信息。
记账基础和计价原则
本集团会计核算以权责发生制为记账基础。除某些金融工具以公允价值计量外，本财务报表以历史成本
作为计量基础。资产如果发生减值，则按照相关规定计提相应的减值准备。
2、遵循企业会计准则的声明
本公司编制的财务报表符合企业会计准则的要求，真实、完整地反映了本公司于 2010 年 12 月 31 日的公
司及合并财务状况以及 2010 年度的公司及合并经营成果和公司及合并现金流量。
3、会计期间
本集团的会计年度为公历年度，即每年 1 月 1 日起至 12 月 31 日止。
4、记账本位币
人民币为本公司及子公司经营所处的主要经济环境中的货币，本公司及子公司以人民币为记账本位币。
本集团编制本财务报表时所采用的货币为人民币。
5、同一控制下和非同一控制下企业合并的会计处理方法
企业合并分为同一控制下企业合并和非同一控制下企业合并。
5.1 同一控制下的企业合并
参与合并的企业在合并前后均受同一方或相同的多方最终控制，且该控制并非暂时性的，为同一控制下
的企业合并。
在企业合并中取得的资产和负债，按合并日其在被合并方的账面价值计量。合并方取得的净资产账面价
值与支付的合并对价的账面价值的差额，调整资本公积中的股本溢价，股本溢价不足冲减的则调整留存
收益。
为进行企业合并发生的各项直接费用，于发生时计入当期损益。
第 11 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
5、同一控制下和非同一控制下企业合并的会计处理方法 - 续
5.2 非同一控制下的企业合并及商誉
参与合并的企业在合并前后不受同一方或相同的多方最终控制，为非同一控制下的企业合并。
合并成本指购买方为取得被购买方的控制权而付出的资产、发生或承担的负债和发行的权益性工具的公
允价值。购买方为企业合并发生的审计、法律服务、评估咨询等中介费用以及其他相关管理费用，于发
生时计入当期损益。通过多次交易分步实现非同一控制下的企业合并的，合并成本为购买日支付的对价
与购买日之前已经持有的被购买方的股权在购买日的公允价值之和。对于购买日之前已经持有的被购买
方的股权，按照购买日的公允价值进行重新计量，公允价值与其账面价值之间的差额计入当期投资收益；
购买日之前已经持有的被购买方的股权涉及其他综合收益的，与其相关的其他综合收益转为购买日当期
投资收益。
购买方在合并中所取得的被购买方符合确认条件的可辨认资产、负债及或有负债在购买日以公允价值计
量。合并成本大于合并中取得的被购买方可辨认净资产公允价值份额的差额，作为一项资产确认为商誉
并按成本进行初始计量。合并成本小于合并中取得的被购买方可辨认净资产公允价值份额的，首先对取
得的被购买方各项可辨认资产、负债及或有负债的公允价值以及合并成本的计量进行复核，复核后合并
成本仍小于合并中取得的被购买方可辨认净资产公允价值份额的，计入当期损益。
因企业合并形成的商誉在合并财务报表中单独列报，并按照成本扣除累计减值准备后的金额计量。 商誉
至少在每年年度终了进行减值测试。
对商誉进行减值测试时，结合与其相关的资产组或者资产组组合进行。即，自购买日起将商誉的账面价
值按照合理的方法分摊到能够从企业合并的协同效应中受益的资产组或资产组组合，如包含分摊的商誉
的资产组或资产组组合的可收回金额低于其账面价值的，确认相应的减值损失。减值损失金额首先抵减
分摊到该资产组或资产组组合的商誉的账面价值，再根据资产组或资产组组合中除商誉以外的其他各项
资产的账面价值所占比重，按比例抵减其他各项资产的账面价值。
可收回金额为资产的公允价值减去处置费用后的净额与资产预计未来现金流量的现值两者之中的较高
者。资产的公允价值根据公平交易中销售协议价格确定；不存在销售协议但存在资产活跃市场的，公允
价值按照该资产的买方出价确定；不存在销售协议和资产活跃市场的，则以可获取的最佳信息为基础估
计资产的公允价值。处置费用包括与资产处置有关的法律费用、相关税费、搬运费以及为使资产达到可
销售状态所发生的直接费用。资产预计未来现金流量的现值，按照资产在持续使用过程中和最终处置时
所产生的预计未来现金流量，选择恰当的折现率对其进行折现后的金额加以确定。
商誉减值损失在发生时计入当期损益，且在以后会计期间不予转回。
6、合并财务报表的编制方法
合并财务报表的合并范围以控制为基础予以确定。控制是指本集团能够决定另一个企业的财务和经营政
策，并能据以从该企业的经营活动中获取利益的权力。
对于本集团处置的子公司，处置日(丧失控制权的日期)前的经营成果和现金流量已经适当地包括在合并
利润表和合并现金流量表中。
对于通过非同一控制下的企业合并取得的子公司，其自购买日(取得控制权的日期)起的经营成果及现金
流量已经适当地包括在合并利润表和合并现金流量表中，不调整合并财务报表的期初数和对比数。
第 12 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
6、合并财务报表的编制方法 - 续
对于通过同一控制下的企业合并取得的子公司，无论该项企业合并发生在报告期的任一时点，视同该子
公司同受最终控制方控制之日起纳入本集团的合并范围，其自报告期最早期间期初起的经营成果和现金
流量已适当地包括在合并利润表和合并现金流量表中。
子公司采用的主要会计政策和会计期间按照本公司统一规定的会计政策和会计期间厘定。
本公司与子公司及子公司相互之间的所有重大账目及交易于合并时抵销。
子公司所有者权益中不属于母公司的份额作为少数股东权益，在合并资产负债表中项目下以“少数股东
权益”项目列示。子公司当期净损益中属于少数股东权益的份额，在合并利润表中净利润项目下以“少
数股东损益”项目列示。
少数股东分担的子公司的亏损超过了少数股东在该子公司期初所有者权益中所享有的份额，其余额仍冲
减少数股东权益。
对于购买子公司少数股权或因处置部分股权投资但没有丧失对该子公司控制权的交易，作为权益性交易
核算，调整归属于母公司所有者权益和少数股东权益的账面价值以反映其在子公司中相关权益的变化。
少数股东权益的调整额与支付/收到对价的公允价值之间的差额调整资本公积，资本公积不足冲减的，调
整留存收益。
因处置部分股权投资或其他原因丧失了对原有子公司控制权的，剩余股权按照其在丧失控制权日的公允
价值进行重新计量。处置股权取得的对价与剩余股权公允价值之和，减去按原持股比例计算应享有原子
公司自购买日开始持续计算的净资产的份额之间的差额，计入丧失控制权当期的投资收益。与原有子公
司股权投资相关的其他综合收益，在丧失控制权时转为当期投资收益。
7、现金及现金等价物的确定标准
现金是指企业库存现金以及可以随时用于支付的存款。现金等价物是指本集团持有的期限短、流动性强、
易于转换为已知金额现金、价值变动风险很小的投资。
8、外币业务和外币报表折算
外币交易在初始确认时采用交易发生日的即期汇率折算。
于资产负债表日，外币货币性项目采用该日即期汇率折算为人民币，因该日的即期汇率与初始确认时或
者前一资产负债表日即期汇率不同而产生的汇兑差额，除：(1)符合资本化条件的外币专门借款的汇兑差
额在资本化期间予以资本化计入相关资产的成本；(2)为了规避外汇风险进行套期的套期工具的汇兑差额
按套期会计方法处理；(3)可供出售外币非货币性项目(如股票)产生的汇兑差额以及可供出售货币性项目
除摊余成本之外的其他账面余额变动产生的汇兑差额确认为其他综合收益并计入资本公积外，均计入当
期损益。
以历史成本计量的外币非货币性项目仍以交易发生日的即期汇率折算的记账本位币金额计量。以公允价
值计量的外币非货币性项目，采用公允价值确定日的即期汇率折算，折算后的记账本位币金额与原记账
本位币金额的差额，作为公允价值变动(含汇率变动)处理，计入当期损益或确认为其他综合收益并计入
资本公积。
第 13 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
9、金融工具
在本集团成为金融工具合同的一方时确认一项金融资产或金融负债。金融资产和金融负债在初始确认时
以公允价值计量。对于以公允价值计量且其变动计入当期损益的金融资产和金融负债，相关的交易费用
直接计入损益，对于其他类别的金融资产和金融负债，相关交易费用计入初始确认金额。
9.1 公允价值的确定方法
公允价值，指在公平交易中，熟悉情况的交易双方自愿进行资产交换或债务清偿的金额。对于存在活跃
市场的金融工具，本集团采用活跃市场中的报价确定其公允价值；对于不存在活跃市场的金融工具，本
集团采用估值技术确定其公允价值。估值技术包括参考熟悉情况并自愿交易的各方最近进行的市场交易
中使用的价格、参照实质上相同的其他金融工具当前的公允价值、现金流量折现法和期权定价模型等。
9.2 实际利率法
实际利率法是指按照金融资产或金融负债(含一组金融资产或金融负债)的实际利率计算其摊余成本及各
期利息收入或支出的方法。实际利率是指将金融资产或金融负债在预期存续期间或适用的更短期间内的
未来现金流量，折现为该金融资产或金融负债当前账面价值所使用的利率。
在计算实际利率时，本集团将在考虑金融资产或金融负债所有合同条款的基础上预计未来现金流量(不考
虑未来的信用损失)，同时还将考虑金融资产或金融负债合同各方之间支付或收取的、属于实际利率组成
部分的各项收费、交易费用及折价或溢价等。
9.3 金融资产的分类、确认和计量
金融资产在初始确认时划分为以公允价值计量且其变动计入当期损益的金融资产、持有至到期投资、贷
款和应收款项以及可供出售金融资产。本集团暂无持有至到期投资。以常规方式买卖金融资产，按交易
日会计进行确认和终止确认。
9.3.1. 以公允价值计量且其变动计入当期损益的金融资产
以公允价值计量且其变动计入当期损益的金融资产包括交易性金融资产和指定为以公允价值计量且其变
动计入当期损益的金融资产。本集团以公允价值计量且其变动计入当期损益的金融资产均为交易性金融
资产。
交易性金融资产是指满足下列条件之一的金融资产：(1)取得该金融资产的目的，主要是为了近期内出售；
(2)初始确认时属于进行集中管理的可辨认金融工具组合的一部分，且有客观证据表明本集团近期采用短
期获利方式对该组合进行管理；(3)属于衍生工具，但是被指定且为有效套期工具的衍生工具、属于财务
担保合同的衍生工具、与在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资挂钩并须通
过交付该权益工具结算的衍生工具除外。
交易性金融资产采用公允价值进行后续计量，公允价值变动形成的利得或损失以及与该金融资产相关的
股利和利息收入计入当期损益。
9.3.2. 贷款和应收款项
贷款和应收款项是指在活跃市场中没有报价、回收金额固定或可确定的非衍生金融资产。本集团划分为
贷款和应收款项的金融资产包括应收票据、应收账款、应收股利、其他应收款及其他流动资产等。
贷款和应收款项采用实际利率法，按摊余成本进行后续计量。在终止确认、发生减值或摊销时产生的利
得或损失，计入当期损益。
第 14 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
9、金融工具 - 续
9.3 金融资产的分类、确认和计量 - 续
9.3.3. 可供出售金融资产
可供出售金融资产包括初始确认时即被指定为可供出售的非衍生金融资产，以及除了以公允价值计量且
其变动计入当期损益的金融资产、贷款和应收款项、持有至到期投资以外的金融资产。
可供出售金融资产采用公允价值进行后续计量，公允价值变动形成的利得或损失，除减值损失和外币货
币性金融资产与摊余成本相关的汇兑差额计入当期损益外，确认为其他综合收益并计入资本公积，在该
金融资产终止确认时转出，计入当期损益。
可供出售金融资产持有期间取得的利息及被投资单位宣告发放的现金股利，计入投资收益。
在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资，以及与该权益工具挂钩并须通过交
付该权益工具结算的衍生金融资产，按照成本计量。
9.4 金融资产减值
除了以公允价值计量且其变动计入当期损益的金融资产外，本集团在每个资产负债表日对其他金融资产
的账面价值进行检查，有客观证据表明金融资产发生减值的，计提减值准备。表明金融资产发生减值的
客观证据是指金融资产初始确认后实际发生的、对该金融资产的预计未来现金流量有影响，且企业能够
对该影响进行可靠计量的事项。
金融资产发生减值的客观证据，包括下列可观察到的各项事项：
(1) 发行方或债务人发生严重财务困难；
(2) 债务人违反了合同条款，如偿付利息或本金发生违约或逾期等；
(3) 本集团出于经济或法律等方面因素的考虑，对发生财务困难的债务人作出让步；
(4) 债务人很可能倒闭或者进行其他财务重组；
(5) 因发行方发生重大财务困难，导致金融资产无法在活跃市场继续交易；
(6) 无法辨认一组金融资产中的某项资产的现金流量是否已经减少，但根据公开的数据对其进行总体
评价后发现，该组金融资产自初始确认以来的预计未来现金流量确已减少且可计量，包括：
- 该组金融资产的债务人支付能力逐步恶化；
- 债务人所在国家或地区经济出现了可能导致该组金融资产无法支付的状况；
(7) 权益工具发行人经营所处的技术、市场、经济或法律环境等发生重大不利变化，使权益工具投资
人可能无法收回投资成本；
(8) 权益工具投资的公允价值发生严重或非暂时性下跌；
(9) 其他表明金融资产发生减值的客观证据。
- 以摊余成本计量的金融资产减值
以摊余成本计量的金融资产发生减值时，将其账面价值减记至按照该金融资产的原实际利率折现确定的
预计未来现金流量 (不包括尚未发生的未来信用损失)现值，减记金额确认为减值损失，计入当期损益。
金融资产确认减值损失后，如有客观证据表明该金融资产价值已恢复，且客观上与确认该损失后发生的
事项有关，原确认的减值损失予以转回，但金融资产转回减值损失后的账面价值不超过假定不计提减值
准备情况下该金融资产在转回日的摊余成本。
本集团对单项金额重大及单项金额不重大的金融资产，均单独进行减值测试。
第 15 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
9、金融工具 - 续
9.4 金融资产减值 - 续
- 可供出售金融资产减值
可供出售金融资产发生减值时，将原计入资本公积的因公允价值下降形成的累计损失予以转出并计入当
期损益，该转出的累计损失为该资产初始取得成本扣除已收回本金和已摊销金额、当前公允价值和原已
计入损益的减值损失后的余额。
在确认减值损失后，期后如有客观证据表明该金融资产价值已恢复，且客观上与确认该损失后发生的事
项有关，原确认的减值损失予以转回，可供出售权益工具投资的减值损失转回确认为其他综合收益并计
入资本公积，可供出售债务工具的减值损失转回计入当期损益。
9.5 金融资产的转移
满足下列条件之一的金融资产，予以终止确认：(1)收取该金融资产现金流量的合同权利终止；(2)该金融
资产已转移，且将金融资产所有权上几乎所有的风险和报酬转移给转入方；(3)该金融资产已转移，虽然
企业既没有转移也没有保留金融资产所有权上几乎所有的风险和报酬，但是放弃了对该金融资产控制。
若企业既没有转移也没有保留金融资产所有权上几乎所有的风险和报酬，且未放弃对该金融资产的控制
的，则按照继续涉入所转移金融资产的程度确认有关金融资产，并相应确认有关负债。继续涉入所转移
金融资产的程度，是指该金融资产价值变动使企业面临的风险水平。
金融资产整体转移满足终止确认条件的，将所转移金融资产的账面价值及因转移而收到的对价与原计入
所有者权益的公允价值变动累计额之和的差额计入当期损益。
金融资产部分转移满足终止确认条件的，将所转移金融资产的账面价值在终止确认及未终止确认部分之
间按其相对的公允价值进行分摊，并将因转移而收到的对价与应分摊至终止确认部分的原计入其他综合
收益的公允价值变动累计额之和与分摊的前述账面金额之差额计入当期损益。
9.6 金融负债的分类、确认及计量
本集团将发行的金融工具根据该金融工具合同安排的实质以及金融负债和权益工具的定义确认为金融负
债或权益工具。
金融负债在初始确认时划分为以公允价值计量且其变动计入当期损益的金融负债和其他金融负债。本集
团暂无划分为公允价值计量且其变动计入当期损益的金融负债。
9.6.1. 其他金融负债
与在活跃市场中没有报价、公允价值不能可靠计量的权益工具挂钩并须通过交付该权益工具结算的衍生
金融负债，按照成本进行后续计量。其他金融负债采用实际利率法，按摊余成本进行后续计量，终止确
认或摊销产生的利得或损失计入当期损益。
9.6.2. 财务担保合同
财务担保合同是指保证人和债权人约定，当债务人不履行债务时，保证人按照约定履行债务或者承担责
任的合同。不属于指定为以公允价值计量且其变动计入当期损益的金融负债的财务担保合同，以公允价
值减直接归属的交易费用进行初始确认，在初始确认后按照《企业会计准则第 13 号—或有事项》确定的
金额和初始确认金额扣除按照《企业会计准则第 14 号—收入》的原则确定的累计摊销额后的余额之中的
较高者进行后续计量。
第 16 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
9、金融工具 - 续
9.7 金融负债的终止确认
金融负债的现时义务全部或部分已经解除的，才能终止确认该金融负债或其一部分。本集团(债务人)与
债权人之间签订协议，以承担新金融负债方式替换现存金融负债，且新金融负债与现存金融负债的合同
条款实质上不同的，终止确认现存金融负债，并同时确认新金融负债。
金融负债全部或部分终止确认的，将终止确认部分的账面价值与支付的对价(包括转出的非现金资产或承
担的新金融负债)之间的差额，计入当期损益。
9.8 金融资产和金融负债的抵销
当本集团具有抵销已确认金融资产和金融负债的法定权利，且目前可执行该种法定权利，同时本集团计
划以净额结算或同时变现该金融资产和清偿该金融负债时，金融资产和金融负债以相互抵销后的金额在
资产负债表内列示。除此以外，金融资产和金融负债在资产负债表内分别列示，不予相互抵销。
9.9 权益工具
权益工具是指能证明拥有本集团在扣除所有负债后的资产中的剩余权益的合同。发行权益工具时收到的
对价扣除交易费用后增加股东权益。
本集团对权益工具持有方的各种分配(不包括股票股利)，减少股东权益。本集团不确认权益工具的公允
价值变动额。
10、应收款项
单项金额重大并单项计提坏账准备的应收款项
单项金额重大的判断依据或金额标 本集团将金额为人民币 1,000 万元以上的应收款项确认为单项
准 金额重大的应收款项。
本集团对应收款项均单独进行减值测试。
11、存货
11.1 存货的分类
本集团的存货主要包括库存商品、备品备件、物料用品和食品饮料等。按成本进行初始计量，存货成本
包括采购成本、加工成本和其他使存货达到目前场所和状态所发生的支出。
11.2 发出存货的计价方法
除车辆营运业务的备品备件以及物料用品发出时按加权平均法确定其实际成本外，其余存货发出时，均
按先进先出法确定其实际成本。
第 17 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
11、存货 - 续
11.3 存货可变现净值的确定依据及存货跌价准备的计提方法
资产负债表日，存货按照成本与可变现净值孰低计量。当其可变现净值低于成本时，提取存货跌价准备。
可变现净值是指在日常活动中，存货的估计售价减去至完工时估计将要发生的成本、估计的销售费用以
及相关税费后的金额。在确定存货的可变现净值时，以取得的确凿证据为基础，同时考虑持有存货的目
的以及资产负债表日后事项的影响。
存货按单个存货项目的成本高于其可变现净值的差额提取存货跌价准备。
计提存货跌价准备后，如果以前减记存货价值的影响因素已经消失，导致存货的可变现净值高于其账面
价值的，在原已计提的存货跌价准备金额内予以转回，转回的金额计入当期损益。
11.4 存货的盘存制度
存货盘存制度为永续盘存制。
12、长期股权投资
12.1 投资成本的确定
对于企业合并形成的长期股权投资，如为同一控制下的企业合并取得的长期股权投资，在合并日按照取
得被合并方股东权益账面价值的份额作为初始投资成本；通过非同一控制下的企业合并取得的长期股权
投资，按照合并成本作为长期股权投资的初始投资成本。对于多次交易实现非同一控制下的企业合并，
长期股权投资成本为购买日之前所持被购买方的股权投资的账面价值与购买日新增投资成本之和。除企
业合并形成的长期股权投资外的其他股权投资，按成本进行初始计量。
12.2 后续计量及损益确认方法
12.2.1. 成本法核算的长期股权投资
本集团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；此外，公司财务报表采用成本法核算对子公司的长期股权投资。子公
司是指本集团能够对其实施控制的被投资单位。
采用成本法核算时，长期股权投资按初始投资成本计价，除取得投资时实际支付的价款或者对价中包含
的已宣告但尚未发放的现金股利或者利润外，当期投资收益按照享有被投资单位宣告发放的现金股利或
利润确认。
12.2.2. 权益法核算的长期股权投资
本集团对联营企业和合营企业的投资采用权益法核算。联营企业是指本集团能够对其施加重大影响的被
投资单位，合营企业是指本集团与其他投资方对其实施共同控制的被投资单位。
采用权益法核算时，长期股权投资的初始投资成本大于投资时应享有被投资单位可辨认净资产公允价值
份额的，不调整长期股权投资的初始投资成本；初始投资成本小于投资时应享有被投资单位可辨认净资
产公允价值份额的，其差额计入当期损益，同时调整长期股权投资的成本。
第 18 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
12、长期股权投资 - 续
12.2 后续计量及损益确认方法 – 续
12.2.2. 权益法核算的长期股权投资 – 续
采用权益法核算时，当期投资损益为应享有或应分担的被投资单位当年实现的净损益的份额。在确认应
享有被投资单位净损益的份额时，以取得投资时被投资单位各项可辨认资产等的公允价值为基础，并按
照本集团的会计政策及会计期间，对被投资单位的净利润进行调整后确认。对于本集团与联营企业及合
营之间发生的未实现内部交易损益按照持股比例计算属于本集团的部分予以抵销，在此基础上确认投资
损益。但本集团与被投资单位发生的未实现内部交易损失，属于所转让资产减值损失的，不予以抵销。
对被投资单位除净损益以外的其他所有者权益变动，相应调整长期股权投资的账面价值确认为其他综合
收益并计入资本公积。
在确认应分担被投资单位发生的净亏损时，以长期股权投资的账面价值和其他实质上构成对被投资单位
净投资的长期权益减记至零为限。此外，如本集团对被投资单位负有承担额外损失的义务，则按预计承
担的义务确认预计负债，计入当期投资损失。被投资单位以后期间实现净利润的，本集团在收益分享额
弥补未确认的亏损分担额后，恢复确认收益分享额。
对于本集团 2007 年 1 月 1 日首次执行新会计准则之前已经持有的对联营企业和合营企业的长期股权投
资，如存在与该投资相关的股权投资借方差额，按原剩余期限直线摊销的金额计入当期损益。
12.2.3. 处置长期股权投资
处置长期股权投资时，其账面价值与实际取得价款的差额，计入当期损益。采用权益法核算的长期股权
投资，在处置时将原计入股东权益的部分按相应的比例转入当期损益。
12.3 确定对被投资单位具有共同控制、重大影响的依据
控制是指有权决定一个企业的财务和经营政策，并能据以从该企业的经营活动中获取利益。共同控制是
指按照合同约定对某项经济活动所共有的控制，仅在与该项经济活动相关的重要财务和经营决策需要分
享控制权的投资方一致同意时存在。重大影响是指对一个企业的财务和经营政策有参与决策的权力，但
并不能够控制或者与其他方一起共同控制这些政策的制定。在确定能否对被投资单位实施控制或施加重
大影响时，已考虑投资企业和其他方持有的被投资单位当期可转换公司债券、当期可执行认股权证等潜
在表决权因素。
12.4 减值测试方法及减值准备计提方法
本集团在每一个资产负债表日检查长期股权投资是否存在可能发生减值的迹象。如果该资产存在减值迹
象，则估计其可收回金额。如果资产的可收回金额低于其账面价值，按其差额计提资产减值准备，并计
入当期损益。
长期股权投资的减值损失一经确认，在以后会计期间不予转回。
第 19 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
13、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、已
出租的建筑物等。
投资性房地产按成本进行初始计量。与投资性房地产有关的后续支出，如果与该资产有关的经济利益很
可能流入且其成本能可靠地计量，则计入投资性房地产成本。其他后续支出，在发生时计入当期损益。
本集团采用成本模式对投资性房地产进行后续计量，并按照与房屋建筑物或土地使用权一致的政策进行
折旧或摊销。
本集团在每一个资产负债表日检查投资性房地产是否存在可能发生减值的迹象。如果该资产存在减值迹
象，则估计其可收回金额。估计资产的可收回金额以单项资产为基础，如果难以对单项资产的可收回金
额进行估计的，则以该资产所属的资产组为基础确定资产组的可收回金额。如果资产或资产组的可收回
金额低于其账面价值，按其差额计提资产减值准备，并计入当期损益。
投资性房地产的资产减值损失一经确认，在以后会计期间不予转回。
投资性房地产出售、转让、报废或毁损的处置收入扣除其账面价值和相关税费后的差额计入当期损益。
14、固定资产
14.1 固定资产确认条件
固定资产是指为生产商品、提供劳务、出租或经营管理而持有的，使用寿命超过一个会计年度的有形资
产。固定资产仅在与其有关的经济利益很可能流入本集团，且其成本能够可靠地计量时才予以确认。固
定资产按成本进行初始计量。
与固定资产有关的后续支出，如果与该固定资产有关的经济利益很可能流入且其成本能可靠地计量，则
计入固定资产成本，并终止确认被替换部分的账面价值。除此以外的其他后续支出，在发生时计入当期
损益。
14.2 各类固定资产的折旧方法
固定资产从达到预定可使用状态的次月起，采用年限平均法在使用寿命内计提折旧。各类固定资产的使
用寿命、预计净残值和年折旧率如下：
类别 折旧年限(年) 残值率(%) 年折旧率(%)
房屋及建筑物 20-50 年 4-10% 1.8-4.8%
机器设备 5-20 年 4-10% 4.5-19.2%
电子设备、器具及家具 3-10 年 4-10% 9.0-32.0%
营运车辆 4-10 年 4-10% 9.0-24%
其他运输设备 5-10 年 4-10% 9.0-19.2%
酒店改造 5年 - 20%
预计净残值是指假定固定资产预计使用寿命已满并处于使用寿命终了时的预期状态，本集团目前从该项
资产处置中获得的扣除预计处置费用后的金额。
第 20 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
14、固定资产 - 续
14.3 固定资产的减值测试方法及减值准备计提方法
本集团在每一个资产负债表日检查固定资产是否存在可能发生减值的迹象。如果该资产存在减值迹象，
则估计其可收回金额。估计资产的可收回金额以单项资产为基础，如果难以对单项资产的可收回金额进
行估计的，则以该资产所属的资产组为基础确定资产组的可收回金额。如果资产或资产组的可收回金额
低于其账面价值，按其差额计提资产减值准备，并计入当期损益。
固定资产减值损失一经确认，在以后会计期间不予转回。
14.4 其他说明
本集团至少于年度终了对固定资产的使用寿命、预计净残值和折旧方法进行复核，如发生改变则作为会
计估计变更处理。
当固定资产处于处置状态或预期通过使用或处置不能产生经济利益时，终止确认该固定资产。固定资产
出售、转让、报废或毁损的处置收入扣除其账面价值和相关税费后的差额计入当期损益。
15、在建工程
在建工程按实际成本计量﹐实际成本包括在建期间发生的各项工程支出以及其他相关费用等。在建工程
不计提折旧。在建工程在达到预定可使用状态后结转为固定资产。
本集团在每一个资产负债表日检查在建工程是否存在可能发生减值的迹象。如果该资产存在减值迹象，
则估计其可收回金额。估计资产的可收回金额以单项资产为基础，如果难以对单项资产的可收回金额进
行估计的，则以该资产所属的资产组为基础确定资产组的可收回金额。如果资产或资产组的可收回金额
低于其账面价值，按其差额计提资产减值准备，并计入当期损益。
上述资产减值损失一经确认，在以后会计期间不予转回。
16、借款费用
可直接归属于符合资本化条件的资产的购建或者生产的借款费用，在资产支出已经发生、借款费用已经
发生、为使资产达到预定可使用或可销售状态所必要的购建或生产活动已经开始时，开始资本化；当构
建或者生产的符合资本化条件的资产达到预定可使用状态或者可销售状态时，停止资本化。如果符合资
本化条件的资产在购建或生产过程中发生非正常中断、并且中断时间连续超过 3 个月的，暂停借款费用
的资本化，直至资产的购建或生产活动重新开始。其余借款费用在发生当期确认为费用。
专门借款当期实际发生的利息费用，减去尚未动用的借款资金存入银行取得的利息收入或进行暂时性投
资取得的投资收益后的金额予以资本化；一般借款根据累计资产支出超过专门借款部分的资产支出加权
平均数乘以所占用一般借款的资本化率，确定资本化金额。资本化率根据一般借款的加权平均利率计算
确定。
第 21 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
17、无形资产
17.1 无形资产
无形资产包括土地使用权、出租车营运牌照等。
无形资产按成本进行初始计量。使用寿命有限的无形资产自可供使用时起，对其原值减去预计净残值和
计提的减值准备累计金额在其预计使用寿命内采用直线法分期平均摊销。使用寿命不确定的无形资产不
予摊销。
期末，对使用寿命有限的无形资产的使用寿命和摊销方法进行复核，必要时进行调整。
17.2 无形资产的减值测试方法及减值准备计提方法
本集团在每一个资产负债表日检查使用寿命确定的无形资产是否存在可能发生减值的迹象。如果该等资
产存在减值迹象，则估计其可收回金额。估计资产的可收回金额以单项资产为基础，如果难以对单项资
产的可收回金额进行估计的，则以该资产所属的资产组为基础确定资产组的可收回金额。如果资产的可
收回金额低于其账面价值，按其差额计提资产减值准备，并计入当期损益。
使用寿命不确定的无形资产和尚未达到可使用状态的无形资产，无论是否存在减值迹象，每年均进行减
值测试。
上述资产减值损失一经确认，在以后会计期间不予转回。
18、长期待摊费用
长期待摊费用为已经发生但应由本期和以后各期负担的分摊期限在一年以上的各项费用。长期待摊费用
在预计受益期间分期平均摊销。
19、收入
19.1 商品销售收入
在已将商品所有权上的主要风险和报酬转移给买方，既没有保留通常与所有权相联系的继续管理权，也
没有对已售商品实施有效控制，收入的金额能够可靠地计量，相关的经济利益很可能流入企业，相关的
已发生或将发生的成本能够可靠地计量时，确认商品销售收入的实现。
19.2 提供劳务收入
在提供劳务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，交易的完工程度能够可靠地
确定，交易中已发生和将发生的成本能够可靠地计量时，确认提供劳务收入的实现。本集团于资产负债
表日按照完工百分比法确认提供的劳务收入。劳务交易的完工进度按已经提供的劳务占应提供劳务总量
的比例确定。
如果提供劳务交易的结果不能够可靠估计，则按已经发生并预计能够得到补偿的劳务成本金额确认提供
的劳务收入，并将已发生的劳务成本作为当期费用。已经发生的劳务成本如预计不能得到补偿的，则不
确认收入。
第 22 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
20、政府补助
政府补助是指本集团从政府无偿取得货币性资产和非货币性资产。政府补助在能够满足政府补助所附条
件且能够收到时予以确认。
政府补助为货币性资产的，按照收到或应收的金额计量。政府补助为非货币性资产的，按照公允价值计
量；公允价值不能够可靠取得的，按照名义金额计量。按照名义金额计量的政府补助，直接计入当期损
益。
与资产相关的政府补助，确认为递延收益，并在相关资产的使用寿命内平均分配计入当期损益。
与收益相关的政府补助，用于补偿以后期间的相关费用和损失的，确认为递延收益，并在确认相关费用
的期间计入当期损益；用于补偿已经发生的相关费用和损失的，直接计入当期损益。
因公共利益进行搬迁而收到的搬迁补偿
本集团因城镇整体规划等公共利益进行搬迁，收到政府从财政预算直接拨付的搬迁补偿款，作为专项应
付款处理。其中，属于对企业在搬迁和重建过程中发生的固定资产和无形资产损失、有关费用性支出、
停工损失及搬迁后拟新建资产进行补偿的，自专项应付款转入递延收益，并根据其性质按照与资产相关
的政府补助和与收益相关的政府补助核算，取得的搬迁补偿款扣除转入递延收益的金额后如有结余的，
确认为资本公积。
21、递延所得税资产/递延所得税负债
所得税费用包括当期所得税和递延所得税。
21.1 当期所得税
资产负债表日，对于当期和以前期间形成的当期所得税负债(或资产)，以按照税法规定计算的预期应交
纳(或返还)的所得税金额计量。
21.2 递延所得税资产及递延所得税负债
对于某些资产、负债项目的账面价值与其计税基础之间的差额，以及未作为资产和负债确认但按照税法
规定可以确定其计税基础的项目的账面价值与计税基础之间的差额产生的暂时性差异，采用资产负债表
债务法确认递延所得税资产及递延所得税负债。
一般情况下所有暂时性差异均确认相关的递延所得税。但对于可抵扣暂时性差异，本集团以很可能取得
用来抵扣可抵扣暂时性差异的应纳税所得额为限，确认相关的递延所得税资产。此外，与商誉的初始确
认相关的，以及与既不是企业合并、发生时也不影响会计利润和应纳税所得额(或可抵扣亏损)的交易中
产生的资产或负债的初始确认有关的暂时性差异，不予确认有关的递延所得税资产或负债。
对于能够结转以后年度的可抵扣亏损及税款抵减，以很可能获得用来抵扣可抵扣亏损和税款抵减的未来
应纳税所得额为限，确认相应的递延所得税资产。
本集团确认与子公司、联营企业及合营企业投资相关的应纳税暂时性差异产生的递延所得税负债，除非
本集团能够控制暂时性差异转回的时间，而且该暂时性差异在可预见的未来很可能不会转回。对于与子
公司、联营企业及合营企业投资相关的可抵扣暂时性差异，只有当暂时性差异在可预见的未来很可能转
回，且未来很可能获得用来抵扣可抵扣暂时性差异的应纳税所得额时，本集团才确认递延所得税资产。
资产负债表日，对于递延所得税资产和递延所得税负债，根据税法规定，按照预期收回相关资产或清偿
相关负债期间的适用税率计量。
第 23 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
21、递延所得税资产/递延所得税负债 - 续
21.2 递延所得税资产及递延所得税负债 - 续
除与直接计入其他综合收益或股东权益的交易和事项相关的当期所得税和递延所得税计入其他综合收益
或股东权益，以及企业合并产生的递延所得税调整商誉的账面价值外，其余当期所得税和递延所得税费
用或收益计入当期损益。
资产负债表日，对递延所得税资产的账面价值进行复核，如果未来很可能无法获得足够的应纳税所得额
用以抵扣递延所得税资产的利益，则减记递延所得税资产的账面价值。在很可能获得足够的应纳税所得
额时，减记的金额予以转回。
当拥有以净额结算的法定权利，且意图以净额结算或取得资产、清偿负债同时进行时，本集团当期所得
税资产及当期所得税负债以抵销后的净额列报。
当拥有以净额结算当期所得税资产及当期所得税负债的法定权利，且递延所得税资产及递延所得税负债
是与同一税收征管部门对同一纳税主体征收的所得税相关或者是对不同的纳税主体相关，但在未来每一
具有重要性的递延所得税资产及负债转回的期间内，涉及的纳税主体意图以净额结算当期所得税资产和
负债或是同时取得资产、清偿负债时，本集团递延所得税资产及递延所得税负债以抵销后的净额列报。
22、经营租赁、融资租赁
实质上转移了与资产所有权有关的全部风险和报酬的租赁为融资租赁。融资租赁以外的其他租赁为经营
租赁。
22.1 本集团作为承租人记录经营租赁业务
经营租赁的租金支出在租赁期内的各个期间按直线法计入相关资产成本或当期损益。初始直接费用计入
当期损益。或有租金于实际发生时计入当期损益。
22.2 本集团作为出租人记录经营租赁业务
经营租赁的租金收入在租赁期内的各个期间按直线法确认为当期损益。对金额较大的初始直接费用于发
生时予以资本化，在整个租赁期间内按照与确认租金收入相同的基础分期计入当期损益；其他金额较小
的初始直接费用于发生时计入当期损益。或有租金于实际发生时计入当期损益。
23、主要会计政策、会计估计的变更
2010 年财政部发布的《企业会计准则解释第 4 号》对本集团本年度的财务报表无重大影响。
第 24 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(二) 公司主要会计政策及会计估计 - 续
24、其他主要会计政策、会计估计和财务报表编制方法
24.1 职工薪酬
除因解除与职工的劳动关系而给予的补偿外，本集团在职工提供服务的会计期间，将应付的职工薪酬确
认为负债。
本集团按规定参加由政府机构设立的职工社会保障体系，包括基本养老保险、医疗保险、住房公积金及
其他社会保障制度，相应的支出于发生时计入相关资产成本或当期损益。
在职工劳动合同到期之前解除与职工的劳动关系，或为鼓励职工自愿接受裁减而提出给予补偿的建议，
如果本集团已经制定正式的解除劳动关系计划或提出自愿裁减建议并即将实施，同时本集团不能单方面
撤回解除劳动关系计划或裁减建议的，确认因解除与职工劳动关系给予补偿产生的预计负债，并计入当
期损益。
25、运用会计政策过程中所作的重要判断及会计估计采用的关键假设及不确定因素
本集团在运用上述会计政策过程中，由于经营活动内在的不确定性，需要对无法准确计量的报表项目的
账面价值进行判断、估计和假设。这些判断、估计和假设是基于本集团管理层过去的历史经验，并在考
虑其他相关因素的基础上作出的。实际的结果可能与本集团的估计存在差异。
本集团对前述判断、估计和假设在持续经营的基础上进行定期复核，会计估计的变更仅影响变更当期的，
其影响数在变更当期予以确认；既影响变更当期又影响未来期间的，其影响数在变更当期和未来期间予
以确认。
- 运用会计政策过程中所作的重要判断
世博出租车营运牌照
根据上海市交通运输和港口管理局给锦江汽车关于 2010 年上海世博会新增出租汽车额度(以下简称“世
博专用出租车牌照”)的中标通知书，本集团于 2010 年取得了政府提供的世博专用出租车牌照。本集团
管理层根据招标文件及双方签订的协议书，认为取得的世博专用出租车牌照为协议规定营运期内的营运
许可，不应参照其他正常市场购入的出租车牌照作为无形资产核算。
- 会计估计所采用的关键假设和不确定因素
资产负债表日，会计估计中很可能导致未来期间资产、负债账面价值作出重大调整的关键假设和不确定
性主要有：
出租车营运牌照的使用寿命
本集团所拥有的出租车营运牌照并无使用年限限制，本集团管理层认为在可预见的将来该出租车营运牌
照均会使用并带给集团预期的经济利益流入，故其使用寿命是不确定的。管理层每年均对上述使用寿命
不确定的出租车营运牌照的使用寿命进行复核。
第 25 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(三) 税项
1、主要税种及税率
税种 计税依据 税率
增值税 应纳增值税为销项税额减可抵扣进项税后的余额 17%
小型出租车和客运线路营运收入的营业税按核定应纳税营业额 3%
营业税 其他车辆营运收入的营业税按应纳税营业额 3%
其他服务收入的营业税按应税服务收入 5%
企业所得税 应纳税所得额 见下文
城市维护建设税 流转税额 7%
教育费附加 流转税额 3%
河道管理费 流转税额 1%
根据 2007 年 3 月 16 日发布的《中华人民共和国企业所得税法》的规定，本公司自 2008 年 1 月 1 日起按
有关规定和政策逐步执行 25%的企业所得税率。本公司系注册于上海浦东新区的企业，各年度实际税率
如下：
实际税率
2008 年 18%
2009 年 20%
2010 年 22%
2011 年 24%
2012 年及以后 25%
下述子公司因注册地为上海浦东新区而按有关政策适用实际税率 22%：
公司名称 2010 年度实际税率
上海锦江汽车服务有限公司 22%
上海锦海捷亚物流管理有限公司 22%
上海锦江国际低温物流发展有限公司 22%
上海锦江商旅汽车服务股份有限公司 22%
上海浦东友谊汽车服务有限责任公司 22%
上海锦江汽车租赁有限公司 22%
上海锦佳汽车贸易有限公司 22%
上海锦江耀华出租汽车有限公司 22%
子公司上海南浦大桥食品批发交易市场经营管理有限公司因为符合小型微利企业，经上海市黄浦区国家
税务局第五税务所编号为 310101100600834-3 的《企业所得税优惠事先备案结果通知书》批准，2010 年
执行 20%的企业所得税税率。
上述之外的其他子公司的企业所得税税率为 25%。
第 26 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(四) 企业合并及合并财务报表
1、子公司情况
(1)通过设立或投资等方式取得的子公司
人民币元
从母公司所有
者权益冲减子
公司少数股东
分担的本年亏
少数股东 损超过少数股
实质上构成 权益中用 东在该子公司
注 对子公司净 持股 是否 于冲减少 年初所有者权
子公司 册 投资的其他 比例 表决权比例 合并 数股东损 益中所享有份
子公司全称 类型 地 法人代表 业务性质 注册资本 经营范围 年末实际出资额 项目余额 (%) (%) 报表 少数股东权益 益的金额 额后的余额
上海锦海捷亚物 有限责 上 杨原平 服务业 80,000,000.00 国际、国内物流企业管理，国际、 52,000,000.00 - 65 本集团享有 是 83,342,769.37 - -
流管理有限公司 任公司 海 国内货运企业管理，货物技术进出 的表决权比
(台港澳 口(不含分销业务)及相关信息管 例与持股比
与境内 理，提供相关服务咨询)(涉及行政 例一致
合资) 许可的，凭许可证经营)。
上海锦江国际低 有限责 上 张国美 仓储业 75,000,000.00 仓储物流管理服务及相关业务咨 75,000,000.00 - 100 本集团享有 是 - - -
温物流发展有限 任公司 海 询，存货管理服务、货物运输代理 的表决权比
公司(“低温物 管理，商务信息咨询(除经纪)(涉及 例与持股比
流”) (注 2) 许可经营的凭许可证经营)。 例一致
大连锦江汽车租 有限责 大 沈正东 交通运输业 5,000,000.00 汽车租赁，通勤班车。 5,000,000.00 - 100 本集团享有 是 - - -
赁有限公司 任公司 连 的表决权比
例与持股比
例一致
上海锦江机动车 有限责 上 余国富 交通运输业 5,000,000.00 普通机动车驾驶员培训。(涉及行政 5,000,000.00 - 100 本集团享有 是 - - -
驾驶员培训有限 任公司 海 许可的，凭许可证经营) 的表决权比
公司 (国有控 例与持股比
股) 例一致
上海锦江亿马汽 有限责 上 韩汇田 贸易 5,000,000.00 商用车、二手汽车、汽车配件、轮 5,000,000.00 - 100 本集团享有 是 - - -
车销售服务有限 任公司 海 胎、润滑油、日用百货的销售，汽 的表决权比
公司 车清洗。(涉及行政许可的，凭许可 例与持股比
证经营) 例一致
上海尚海食品有 有限责 上 丁志良 食品包装 25,000,000.00 批发：预包装食品(含冷冻冷藏，不 25,000,000.00 - 100 本集团享有 是 - - -
限公司(“尚海食 任公司 海 含熟食卤味)。(涉及行政许可的， 的表决权比
品”) (注 2) 凭许可证经营) 例与持股比
例一致
第 27 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(四) 企业合并及合并财务报表 – 续
1、子公司情况 – 续
(2)同一控制下企业合并取得的子公司
人民币元
从母公司所有者权
益冲减子公司少数
少数股东 股东分担的本年亏
实质上构成 权益中用 损超过少数股东在
对子公司净 持股 于冲减少 该子公司年初所有
投资的其他 比例 是否合并报 少数 数股东损 者权益中所享有份
子公司全称 子公司类型 注册地 法人代表 业务性质 注册资本 经营范围 年末实际出资额 项目余额 (%) 表决权比例(%) 表 股东权益 益的金额 额后的余额
上海锦江汽车 有限责任公司 上海 戎平涛 交通运输业 338,486,272.11 大小客车出租服务，旅游，汽车修理，长途客运， 538,135,811.60 - 95 本集团享有的表 是 44,388,407.89 - -
服务有限公司 汽车配件、客车租赁，房地产信息咨询，附设分 决权比例与持股
(“锦江汽车”) 支机构，保险兼业代理。(以上涉及许可经营的 比例一致
凭许可证经营)。
上海锦江商旅 股份有限公司 上海 戎平涛 交通运输业 70,000,000.00 大小客车出租服务，跨省市长途客运，汽车配件， 104,170,372.98 - 80 本集团享有的表 是 29,234,263.40 - -
汽车服务股份 (非上市公司) 汽车修理，机动车安检，以及相关业务的咨询服 决权比例与持股
有限公司(“锦 务。 比例一致
江商旅”)
上海锦江太平 有限责任公司 上海 戎平涛 交通运输业 2,000,000.00 跨省市旅客运输，代办跨省市客运业务等。 2,000,000.00 - 100 本集团享有的表 是 - - -
洋客运服务有 决权比例与持股
限公司 比例一致
上海锦江高速 有限责任公司 上海 许文忠 交通运输业 10,000,000.00 省际道路旅客运输、高速公路旅客运输，代办省 10,000,000.00 - 100 本集团享有的表 是 - - -
客运有限公司 际道路旅客运输、代办高速公路旅客运输等。 决权比例与持股
比例一致
上海商旅投资 一人有限责任 上海 戎平涛 咨询管理 16,000,000.00 投资咨询，企业管理咨询，商务信息咨询，展览 16,000,000.00 - 100 本集团享有的表 是 - - -
咨询有限公司 公司(法人独 展示服务(除举办展览展示会)，企业形象策划， 决权比例与持股
资) 市场营销策划。(涉及行政许可的，凭许可证经 比例一致
营)。
上海浦东友谊 有限责任公司 上海 吴晓国 交通运输业 5,610,000.00 汽车客运，汽车修理，汽车配件的销售。(涉及 4,927,263.00 - 87.83 本集团享有的表 是 2,804,470.49 - -
汽车服务有限 许可经营的凭许可证经营)。 决权比例与持股
责任公司 比例一致
上海锦江汽车 有限责任公司 上海 沈正东 租赁服务业 3,300,000.00 汽车租赁 3,300,000.00 - 100 本集团享有的表 是 - - -
租赁有限公司 决权比例与持股
比例一致
上海中油锦友 有限责任公司 上海 翁志雄 服务业 2,000,000.00 油气站开发(专项凭许可证)、服务，附设市西分 3,800,000,00 - 76 本集团享有的表 是 2,439,944.74 - -
油品经营有限 公司。 决权比例与持股
公司 比例一致
第 28 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(四) 企业合并及合并财务报表 – 续
1、 子公司情况 – 续
(2)同一控制下企业合并取得的子公司 – 续
人民币元
从母公司所有者权
益冲减子公司少数
股东分担的本年亏
实质上构成 少数股东权 损超过少数股东在
对子公司净 益中用于冲 该子公司年初所有
投资的其他 持股 是否合并报 少数 减少数股东 者权益中所享有份
子公司全称 子公司类型 注册地 法人代表 业务性质 注册资本 经营范围 年末实际出资额 项目余额 比例(%) 表决权比例(%) 表 股东权益 损益的金额 额后的余额
上海嘉定锦江 有限责任公司 上海 余国富 交通运输业 5,000,000.00 出租汽车营运，汽车配件的批售，客车租赁。(涉 3,500,000.00 - 70 本集团享有的表 是 2,671,827.83 - -
汽车服务有限 及行政许可的，凭许可证经营)。 决权比例与持股
公司 比例一致
上海锦佳汽车 有限责任公司 上海 施根昌 贸易 10,100,000.00 汽车(含小轿车)、摩托车及配件、机电设备、金 10,100,000.00 - 100 本集团享有的表 是 - - -
贸易有限公司 属材料、化工原料及产品(除危险品)、建筑材料、 决权比例与持股
五金交电、办公自动化设备、装潢材料、工艺品、 比例一致
日用百货的销售，汽车内装潢。(涉及许可经营
的凭许可证经营)。
上海锦江丰田 有限责任公司 上海 华庆建 贸易 10,000,000.00 汽车、品牌轿车销售及售后服务、汽车维修、汽 7,000,000.00 - 70 本集团享有的表 是 5,288,549.51 - -
汽车销售服务 车内装潢、汽车技术信息服务，汽车配件的销售， 决权比例与持股
有限公司 二手车经销。(涉及行政许可的，凭许可证经营)。 比例一致
上海锦振电子 有限责任公司 上海 余国富 服务业 800,000.00 计算机、通讯、电子技术领域内的科技咨询，技 800,000.00 - 100 本集团享有的表 是 - - -
技术有限公司 术开发、转让、服务，销售维修电子器材等。 决权比例与持股
比例一致
上海花样年华 有限责任公司 上海 余国富 广告业 800,000.00 承接各类广告设计、制作；承办出租车辆国内外 640,000.00 - 80 本集团享有的表 是 317,810.51 - -
广告有限公司 广告发布 决权比例与持股
比例一致
上海丰田汽车 有限责任公司 上海 丁跃华 服务业 850,000.00 汽车修理、汽车零部件销售。(涉及行政许可的， 850,000.00 - 100 本集团享有的表 是 - - -
维修有限公司 凭许可证经营)。 决权比例与持股
比例一致
上海振星出租 有限责任公司 上海 吴晓国 管理 100,000.00 出租汽车个体工商户管理服务、汽车内部装饰 100,000.00 - 100 本集团享有的表 是 - - -
汽车管理有限 (涉及许可经营的凭许可证经营)。 决权比例与持股
公司 比例一致
上海津悦汽车 有限责任公司 上海 丁跃华 咨询管理 300,000.00 汽车咨询服务。汽车配件，装饰材料(除危险品) 300,000.00 - 100 本集团享有的表 是 - - -
咨询服务有限 零售。(涉及许可经营的凭许可证经营)。 决权比例与持股
公司 比例一致
第 29 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(四) 企业合并及合并财务报表 – 续
1、子公司情况 – 续
(2)同一控制下企业合并取得的子公司 – 续
人民币元
从母公司所有者权
益冲减子公司少数
股东分担的本年亏
实质上构成 少数股东权 损超过少数股东在
对子公司净 益中用于冲 该子公司年初所有
投资的其他 持股 是否合并 减少数股东 者权益中所享有份
子公司全称 子公司类型 注册地 法人代表 业务性质 注册资本 经营范围 年末实际出资额 项目余额 比例(%) 表决权比例(%) 报表 少数股东权益 损益的金额 额后的余额
上海锦茂汽车 有限责任公司 上海 龚文凯 贸易 10,200,000.00 东风日产品牌汽车的销售，汽车配件，日用百货； 5,100,000.00 - 50 >50% 是 9,531,287.49 - -
销售服务有限 汽车修理(一类)，汽车内装饰。(涉及行政许可的， (注 1)
公司 凭许可证经营)。
上海锦用汽车 有限责任公司 上海 韩汇田 服务业 10,000,000.00 二类汽车维修(小型车辆维修)，汽车装潢，汽车 8,000,000.00 - 80 本集团享有的表 是 2,081,867.50 - -
维修服务有限 配件的销售，汽车技术专业领域内的技术开发、 决权比例与持股
公司 技术咨询、技术服务、技术转让。(涉及行政许 比例一致
可的，凭行政许可证经营)。
上海南浦大桥 有限责任公司 上海 丁志良 管理 300,000.00 为本市场内农副产品商品经营者提供市场管理 300,000.00 - 100 本集团享有的表 是 - - -
食品批发交易 服务。(以上范围涉及许可经营的凭许可证经营)。 决权比例与持股
市场经营管理 比例一致
有限公司
上海吴泾冷藏 一人有限责任 上海 何为光 仓储业 50,000,000.00 储运：食品(不含熟食)，货物储运，代客理货中 96,400,305.12 - 100 本集团享有的表 是 - - -
有限公司 公司(法人独 转，商务信息咨询(除经纪)，(涉及行政许可的凭 决权比例与持股
资) 许可证经营)。 比例一致
上海吴淞罗吉 一人有限责任 上海 岑建荣 交通运输、 8,250,000.00 道路货物运输(本单位普通货物)：在港区内从事 8,250,000.00 - 100 本集团享有的表 是 - - -
冷藏有限公司 公司(法人独 仓储业 货物装卸、仓储经营；储运(含冷冻(冷藏)食品)； 决权比例与持股
资) 五金加工；货物存储；本单位空余场地出租。 比例一致
(3)非同一控制下企业合并取得的子公司
人民币元
从母公司所有者权益
少数股东 冲减子公司少数股东
实质上构成 权益中用 分担的本年亏损超过
对子公司净 于冲减少 少数股东在该子公司
投资的其他 持股 是否合并 数股东损 年初所有者权益中所
子公司全称 子公司类型 注册地 法人代表 业务性质 注册资本 经营范围 年末实际出资额 项目余额 比例(%) 表决权比例(%) 报表 少数股东权益 益的金额 享有份额后的余额
上海锦江耀华 一人有限责任 上海 余国富 交通运输业 2,220,000.00 客运服务，停车站，汽车配件、日用百货销售(涉 10,262,906.00 - 100 本集团享有的表 是 - - -
出租汽车有限 公司(法人独 及许可经营的凭许可证经营) 决权比例与持股
公司 资) 比例一致
注 1：根据该子公司章程规定，本集团享有表决权比例大于 50%。
注 2：上海尚海食品有限公司系本集团下属子公司低温物流本年分立成立的子公司。分立完成后，低温物流注册资本由人民币 10,000 万元减少至人民币 7,500
万元，对新设立的尚海食品注册资本为人民币 2,500 万元。
第 30 页
上海锦江国际实业股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释
1、货币资金
人民币元
年末数 年初数
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 554,266.49 1.0000 554,266.49 394,607.62 1.0000 394,607.62
银行存款：
人民币 734,116,329.12 1.0000 734,116,329.12 548,679,801.59 1.0000 548,679,801.59
美元 3,455,486.35 6.6227 22,884,649.45 - - -
合计 -- -- 757,555,245.06 -- -- 549,074,409.21
2、应收股利
人民币元
项目 年初数 本年增加 本年减少 年末数
账龄一年以内的应收股利
其中：(1)上海日产汽车维修中心 - 266,053.65 - 266,053.65
(2)上海金茂锦江汽车服务有限公司 2,700,000.00 2,550,000.00 (2,700,000.00) 2,550,000.00
(3)上海锦江佘山汽车服务有限公司 1,332,616.79 1,025,990.12 (1,332,616.79) 1,025,990.12
账龄一年以上的应收股利
其中：(1)上海日产汽车维修中心 8,220.08 - - 8,220.08
合计 4,040,836.87 3,842,043.77 (4,032,616.79) 3,850,263.85
3、应收账款
(1)应收账款按种类披露：
本集团将金额为人民币 1,000 万元以上的应收账款确认为单项金额重大的应收账款。
年末应收账款按种类划分，均为单项金额虽不重大但单项计提坏账准备的应收账款。
应收账款账龄如下：
人民币元
年末数 年初数
比例 比例
账龄 金额 (%) 坏账准备 账面价值 金额 (%) 坏账准备 账面价值
1 年以内 41,275,033.76 100 (447,495.38) 40,827,538.38 38,746,776.17 100 (350,514.84) 38,396,261.33
合计 41,275,033.76 100 (447,495.38) 40,827,538.38 38,746,776.17 100 (350,514.84) 38,396,261.33
(2)本报告期应收账款中持有公司 5%(含 5%)以上表决权股份的股东单位款项。
人民币元
期末数 期初数
单位名称 金额 计提坏账金额 金额 计提坏账金额
锦江国际(集团)有限公司 11,000.00 - 34,707.00 -
合计 11,000.00 - 34,707.00 -
第 31 页
上海锦江国际实业股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
3、应收账款 - 续
(3)应收账款金额前五名单位情况
人民币元
占应收账款总额
单位名称 与本公司关系 金额 年限 的比例(%)
客户一 第三方 9,872,565.00 1 年以内 24
客户二 第三方 4,520,254.58 1 年以内 11
客户三 第三方 815,976.75 1 年以内 2
客户四 第三方 586,672.00 1 年以内 1
客户五 第三方 568,622.50 1 年以内 1
合计 -- 16,364,090.83 -- 39
(4)应收关联方账款情况
应收关联方账款情况详见附注(六)6。
4、其他应收款
(1) 其他应收款按种类披露：
人民币元
年末数 年初数
账面余额 坏账准备 账面余额 坏账准备
比例 比例 比例 比例
种类 金额 (%) 金额 (%) 金额 (%) 金额 (%)
单项金额重大的其他应收款 - - 29,355,441.75 54 - -
单项金额虽不重大但单项计提坏
28,194,011.42 100 (30,455.65) 100 24,515,366.95 46 (4,712.61) 100
账准备的其他应收款
合计 28,194,011.42 100 (30,455.65) 100 53,870,808.70 100 (4,712.61) 100
本集团将金额为人民币 1,000 万元以上的其他应收款确认为单项金额重大的其他应收款。
年末其他应收款按种类划分，均为单项金额虽不重大但单项计提坏账准备的其他应收款。
其他应收款账龄如下：
人民币元
年末数 年初数
比例 比例
账龄 金额 (%) 坏账准备 账面价值 金额 (%) 坏账准备 账面价值
1 年以内 23,322,641.43 83 (30,455.65) 23,292,185.78 50,255,501.68 93 (4,712.61) 50,250,789.07
1至2年 3,184,832.97 11 - 3,184,832.97 2,652,243.12 5 - 2,652,243.12
2至3年 1,210,210.11 4 - 1,210,210.11 740,802.45 1 - 740,802.45
3 年以上 476,326.91 2 - 476,326.91 222,261.45 1 - 222,261.45
合计 28,194,011.42 100 (30,455.65) 28,163,555.77 53,870,808.70 100 (4,712.61) 53,866,096.09
(2)本报告期其他应收款中无持有公司 5%(含 5%)以上表决权股份的股东单位款项。
第 32 页
上海锦江国际实业股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
4、其他应收款 - 续
(3)其他应收款金额前五名单位情况
人民币元
与本公司 占其他应收款
单位名称 关系 金额 年限 总额的比例(%)
上海锦江汽车销售服务有限公司 关联方 5,445,006.00 1 年以内 19
单位二 第三方 2,372,177.27 1 年以内 8
单位三 第三方 1,946,603.97 1 年以内 7
单位四 第三方 800,000.00 1 年以内 3
单位五 第三方 687,500.00 1 年以内 3
合计 -- 11,251,287.24 -- 40
(4)应收关联方款项
应收关联方账款情况详见附注(六)6。
5、预付款项
(1)预付款项按账龄列示
人民币元
账龄 年末数 年初数
金额 比例(%) 金额 比例(%)
1 年以内 69,163,662.16 100 56,922,816.63 100
合计 69,163,662.16 100 56,922,816.63 100
(2)预付款项金额前五名单位情况
人民币元
与本公司
单位名称 金额 时间 未结算原因
关系
供应商一 第三方 18,073,800.00 1 年以内 预付收购牌照及车款
供应商二 第三方 16,294,200.00 1 年以内 预付收购牌照及车款
上海锦江汽车销售服务有限公司 关联方 6,098,134.00 1 年以内 预付购车款
供应商四 第三方 5,889,675.72 1 年以内 预付购车款
供应商五 第三方 4,840,996.16 1 年以内 预付购车款
合计 -- 51,196,805.88 -- --
(3)本报告期预付款项中无持有公司 5%(含 5%)以上表决权股份的股东单位款项。
第 33 页
上海锦江国际实业股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
5、预付款项 - 续
(4)预付款项的说明：
预付款项按客户类别披露如下：
人民币元
类别 年末数 年初数
单项金额重大的预付账款 34,368,000.00 33,596,755.40
其他不重大的预付账款 34,795,662.16 23,326,061.23
合计 69,163,662.16 56,922,816.63
本集团将金额为人民币 1,000 万元以上的预付款项确认为单项金额重大的预付款项。
6、存货
(1)存货分类
人民币元
年末数 年初数
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
库存商品 39,203,300.27 - 39,203,300.27 35,345,781.28 - 35,345,781.28
备品备件 11,141,102.12 - 11,141,102.12 9,456,209.82 - 9,456,209.82
物料用品 997,357.29 - 997,357.29 143,391.75 - 143,391.75
食品饮料及其他 416,267.22 - 416,267.22 741,506.02 - 741,506.02
合计 51,758,026.90 - 51,758,026.90 45,686,888.87 - 45,686,888.87
7、一年内到期的非流动资产
人民币元
项目 年末数 年初数
一年内到期的应收长期垫付款(注) 4,230,666.67 4,230,666.67
注：应收长期垫付款情况详见附注(五)17 注 2。
8、可供出售金融资产
人民币元
项目 年末公允价值 年初公允价值
可供出售权益工具 103,730,453.50 160,853,050.30
可供出售金融资产系本集团持有的其他上市公司股票，年末公允价值以年末收盘价确认。
第 34 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
9、对合营企业投资和联营企业投资
人民币元
本企业在被投
本企业 资单位
持股比例 表决权比例 年末 年末 年末 本年营业 本年
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 (%) (%) 资产总额 负债总额 净资产总额 收入总额 净利润(亏损)
一、合营企业
上海振东汽车服务有限公司 中外合资 上海 朱明华 交通运输业 7,900,000.00 美元 50 与持股比例一致 85,228,479.41 9,944,892.99 75,283,586.42 43,269,205.95 10,219,135.77
上海金茂锦江汽车服务有限公司 有限责任公司 上海 吴林 交通运输业 22,000,000.00 50 与持股比例一致 71,865,627.31 15,457,220.24 56,408,407.07 43,613,492.32 6,298,697.27
上海大众新亚出租汽车有限公司 有限责任公司 上海 戎平涛 交通运输业 30,000,000.00 49.50 50 192,213,143.03 30,899,527.62 161,313,615.41 120,544,191.33 20,495,577.83
锦海捷亚国际货运有限公司 中外合资 上海 杨原平 交通运输业 10,000,000.00 美元 50 与持股比例一致 640,127,300.33 410,732,931.39 229,394,368.94 2,427,525,338.82 28,572,727.08
上海锦江佳友汽车服务有限公司 有限责任公司 上海 余国富 交通运输业 24,700,000.00 50 与持股比例一致 64,856,168.83 13,811,972.77 51,044,196.06 47,678,724.75 6,132,612.61
上海市机动车驾驶员培训中心 国有联营企业 上海 徐树仁 服务业 4,340,000.00 33.33 与持股比例一致 137,932,336.32 19,797,142.38 118,135,193.94 57,646,444.53 17,516,696.37
上海锦江佘山汽车服务有限公司 有限责任公司 上海 马崎峰 交通运输业 1,000,000.00 50 与持股比例一致 17,305,791.70 5,280,623.35 12,025,168.35 14,272,760.90 2,279,978.05
上海石油集团长乐加油站有限公司 有限责任公司 上海 王志强 服务业 300,000.00 50 与持股比例一致 3,678,405.12 1,863,796.24 1,814,608.88 32,292,855.09 1,002,902.87
国有与集体联 上海 张跃华 交通运输业
上海万国机动车驾驶员培训中心 20,000,000.00 50 与持股比例一致 73,676,605.04 9,543,024.75 64,133,580.29 33,962,315.66 5,316,516.80
营企业
上海日产汽车维修中心 国有联营企业 上海 张建华 交通运输业 2,918,000.00 50 与持股比例一致 14,650,513.52 6,186,274.57 8,464,238.95 4,823,472.42 (1,215,853.69)
上海永达二手机动车经营有限公司 有限责任公司 上海 韩汇田 贸易 9,000,000.00 50 与持股比例一致 8,206,464.99 12,766.25 8,193,698.74 251,260.00 (381,547.22)
二、联营企业
江苏南京长途汽车客运集团有限责任
有限责任公司 南京 田吉人 交通运输业 110,000,000.00 23 与持股比例一致 963,262,853.57 657,464,586.19 305,798,267.38 694,859,089.66 29,846,455.14
公司
上海浦东国际机场货运站有限公司 中外合资 上海 陈龙 交通运输业 311,610,000.00 20 与持股比例一致 1,206,684,161.94 121,553,288.64 1,085,130,873.30 869,911,035.40 484,100,709.15
上海永达风度汽车销售服务有限公司 有限责任公司 上海 朱建华 贸易 15,000,000.00 40 与持股比例一致 75,957,051.54 40,667,689.88 35,289,361.66 310,108,055.51 4,716,001.43
上海锦江客运有限公司 有限责任公司 上海 华庆建 交通运输业 10,000,000.00 30 与持股比例一致 37,438,997.40 11,434,246.55 26,004,750.85 20,969,391.00 10,008,680.49
上海锦江汽车销售服务有限公司 有限责任公司 上海 袁哲宁 贸易 5,000,000.00 30 与持股比例一致 68,459,085.04 56,815,401.98 11,643,683.06 393,138,442.95 5,001,357.99
第 35 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
10、长期股权投资
(1)长期股权投资明细如下：
人民币元
在被投资单
在被投资 位持股比例 本年
单位 在被投资单 与表决权比 计提
持股比例 位表决权比 例不一致的 减值 本年
被投资单位 核算方法 投资成本 年初余额 增减变动 年末余额 (%) 例(%) 说明 减值准备 准备 现金红利
上海日产汽车维修中心 权益法 5,643,011.57 5,900,677.34 (898,604.62) 5,002,072.72 50 与持股比例一致 - - 266,053.65
上海万国机动车驾驶员培训中心 权益法 42,105,806.17 40,575,633.64 (910,230.29) 39,665,403.35 50 与持股比例一致 - - 1,952,295.00
上海市机动车驾驶员培训中心 权益法 33,105,611.21 31,426,720.56 1,119,903.14 32,546,623.70 33.33 与持股比例一致 - - 3,000,000.00
上海振东汽车服务有限公司 权益法 21,211,895.00 39,251,933.00 (1,629,030.37) 37,622,902.63 50 与持股比例一致 - - 5,705,373.71
上海金茂锦江汽车服务有限公司 权益法 16,940,000.00 27,591,663.63 599,348.67 28,191,012.30 50 与持股比例一致 - - 2,550,000.00
上海大众新亚出租汽车有限公司 权益法 84,628,129.42 100,937,251.82 (2,159,769.64) 98,777,482.18 49.50 50 注1 - - 11,650,016.27
锦海捷亚国际货运有限公司 权益法 40,254,477.70 113,410,820.93 1,515,896.15 114,926,717.08 50 与持股比例一致 - - 13,000,000.00
上海永达风度汽车销售服务有限公司 权益法 6,000,000.00 12,229,344.09 1,886,400.57 14,115,744.66 40 与持股比例一致 - - -
上海永达二手机动车经营有限公司 权益法 4,500,000.00 4,287,622.95 (190,773.64) 4,096,849.31 50 与持股比例一致 - - -
上海锦江客运有限公司 权益法 3,000,000.00 7,317,952.98 483,472.32 7,801,425.30 30 与持股比例一致 - - 2,519,131.84
上海锦江汽车销售服务有限公司 权益法 1,500,000.00 2,579,743.41 968,547.13 3,548,290.54 30 与持股比例一致 - - 531,860.27
上海锦江佳友汽车服务有限公司 权益法 14,614,900.00 23,898,963.71 1,623,134.36 25,522,098.07 50 与持股比例一致 - - 1,443,171.96
上海锦江佘山汽车服务有限公司 权益法 500,000.00 5,898,585.39 113,998.95 6,012,584.34 50 与持股比例一致 - - 1,025,990.12
上海石油集团长乐加油站有限公司 权益法 150,000.00 460,571.03 446,733.56 907,304.59 50 与持股比例一致 - - 54,717.92
江苏南京长途汽车客运集团有限责任公司 权益法 25,300,000.00 32,587,752.11 3,920,835.24 36,508,587.35 23 与持股比例一致 - - 3,036,000.00
上海浦东国际机场货运站有限公司 权益法 63,130,065.07 163,305,429.23 53,720,745.43 217,026,174.66 20 与持股比例一致 - - 43,114,986.98
世联锦江物流有限公司(注 2) 权益法 3,012,675.00 - - - -- -- - - -
上海东锦江大酒店有限公司(注 3) 成本法 16,555,237.81 16,555,237.81 (16,555,237.81) - -- -- - - -
上海寰球纸制品有限公司 成本法 746,253.00 746,253.00 - 746,253.00 10 与持股比例一致 746,253.00 - -
国泰君安证券股份有限公司 成本法 47,649,967.00 47,649,967.00 - 47,649,967.00 <=5 与持股比例一致 - - 4,764,996.70
国泰君安投资管理股份有限公司 成本法 31,974,279.24 31,974,279.24 - 31,974,279.24 <=5 与持股比例一致 2,500,000.00 - -
上海国嘉实业股份有限公司 成本法 650,000.00 650,000.00 - 650,000.00 <=5 与持股比例一致 650,000.00 - -
山东国泰股份有限公司 成本法 555,000.00 555,000.00 - 555,000.00 <=5 与持股比例一致 555,000.00 - -
上海南站长途客运有限公司 成本法 7,500,000.00 7,500,000.00 - 7,500,000.00 10 与持股比例一致 - - 2,414,609.91
上海新世纪运输有限公司 成本法 2,240,000.00 2,240,000.00 - 2,240,000.00 11.20 与持股比例一致 - - 1,009,775.42
天津华联商厦股份有限公司 成本法 468,000.00 468,000.00 - 468,000.00 <=5 与持股比例一致 468,000.00 - -
合计 -- 473,935,308.19 719,999,402.87 44,055,369.15 764,054,772.02 -- -- -- 4,919,253.00 - 98,038,979.75
注 1：根据公司章程，本集团对上海大众新亚出租汽车有限公司的表决权比例为 50%。
注 2：该公司在本年度已完成工商注销。
注 3：本年度本集团将持有的上海东锦江大酒店有限公司 1.87%的股权转让给锦江国际(集团)有限公司，转让价款为人民币 17,583,797 元，产生投资收益人民币 1,011,279.19 元。
本集团于 2010 年 12 月 31 日持有长期股权投资之被投资单位向本集团转移资金的能力未受到限制。
第 36 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
11、投资性房地产
(1)按成本计量的投资性房地产
人民币元
项目 年初余额 本年增加 本年减少 年末余额
一、账面原值合计 40,148,721.51 - - 40,148,721.51
1.房屋及建筑物 27,201,946.71 - - 27,201,946.71
2.土地使用权 12,946,774.80 - - 12,946,774.80
二、累计折旧和累计摊销合计 5,054,644.93 771,759.24 - 5,826,404.17
1.房屋及建筑物 4,274,291.41 511,050.24 - 4,785,341.65
2.土地使用权 780,353.52 260,709.00 - 1,041,062.52
三、投资性房地产账面净值合计 35,094,076.58 - - 34,322,317.34
1.房屋及建筑物 22,927,655.30 - - 22,416,605.06
2.土地使用权 12,166,421.28 - - 11,905,712.28
四、投资性房地产减值准备累计金
- - - -
额合计
1.房屋及建筑物 - - - -
2.土地使用权 - - - -
五、投资性房地产账面价值合计 35,094,076.58 - - 34,322,317.34
1.房屋及建筑物 22,927,655.30 - - 22,416,605.06
2.土地使用权 12,166,421.28 - - 11,905,712.28
本年折旧和摊销额为人民币 771,759.24 元。
(2)未办妥产权证书的投资性房地产情况
子公司上海尚海食品有限公司净值为人民币 1,406,670.27 元(年初数：无)的投资性房地产产权证明尚未更
新，产权人为上海锦江国际低温物流发展有限公司。具体情况如下：
人民币元
项目 金额 未办妥产权证书原因 预计办结产权证书时间
尚海食品云台路 115 号 18 层房 1,406,670.27 更新手续尚未完成 --
屋建筑物
第 37 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
12、固定资产
(1)固定资产情况
人民币元
项目 年初余额 本年增加 本年减少 年末余额
一、账面原值合计： 1,678,307,187.72 411,898,818.10 (186,054,009.93) 1,904,151,995.89
其中：房屋及建筑物 154,732,612.72 44,967,821.24 (150,720.55) 199,549,713.41
机器设备 45,366,348.20 16,452,888.72 (4,123,032.19) 57,696,204.73
电子设备、器具及家具 25,647,159.88 1,179,895.64 (1,007,507.06) 25,819,548.46
营运车辆 1,438,293,782.56 348,786,606.50 (180,566,993.33) 1,606,513,395.73
其他运输设备 10,374,599.05 377,223.00 (205,756.80) 10,546,065.25
酒店改造 3,892,685.31 134,383.00 - 4,027,068.31
二、累计折旧合计： 929,723,330.53 224,656,183.40 (160,190,257.47) 994,189,256.46
其中：房屋及建筑物 55,374,970.92 7,194,763.67 (125,636.90) 62,444,097.69
机器设备 26,954,278.30 3,814,423.97 (3,215,316.34) 27,553,385.93
电子设备、器具及家具 18,343,929.61 2,199,956.86 (931,252.27) 19,612,634.20
营运车辆 822,505,135.95 209,266,625.63 (155,777,946.94) 875,993,814.64
其他运输设备 4,717,972.04 1,362,318.85 (140,105.02) 5,940,185.87
酒店改造 1,827,043.71 818,094.42 - 2,645,138.13
三、固定资产账面净值合计 748,583,857.19 909,962,739.43
其中：房屋及建筑物 99,357,641.80 137,105,615.72
机器设备 18,412,069.90 30,142,818.80
电子设备、器具及家具 7,303,230.27 6,206,914.26
营运车辆 615,788,646.61 730,519,581.09
其他运输设备 5,656,627.01 4,605,879.38
酒店改造 2,065,641.60 1,381,930.18
四、减值准备合计 2,088,440.55 2,088,440.55
其中：房屋及建筑物 1,980,444.87 1,980,444.87
机器设备 74,549.59 74,549.59
电子设备、器具及家具 33,446.09 33,446.09
营运车辆 - -
其他运输设备 - -
酒店改造 - -
五、固定资产账面价值合计 746,495,416.64 907,874,298.88
其中：房屋及建筑物 97,377,196.93 135,125,170.85
机器设备 18,337,520.31 30,068,269.21
电子设备、器具及家具 7,269,784.18 6,173,468.17
营运车辆 615,788,646.61 730,519,581.09
其他运输设备 5,656,627.01 4,605,879.38
酒店改造 2,065,641.60 1,381,930.18
第 38 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
12、固定资产 - 续
(1)固定资产情况 – 续
截至 2010 年 12 月 31 日止，无固定资产所有权受到限制。
(2)未办妥产权证书的固定资产情况
截至 2010 年 12 月 31 日止，子公司锦江汽车净值为人民币 17,364,447.55 元(年初数：人民币 9,893,468.38
元)的房屋及建筑物尚未办理产权证明；子公司尚海食品净值为人民币 5,095,786.76 元(年初数：人民币
4,889,669.62 元)的房屋及建筑物产权证明尚未更新。具体情况如下：
人民币元
项目 金额 未办妥产权证书原因 预计办结产权证书时间
锦江汽车吴中路 88 号房屋建筑物 7,630,970.02 该建筑物所在土地系 --
向集团经营租赁所得
锦江汽车吴中路 100 号房屋建筑 4,440,280.04 该建筑物所在土地系 --
物 向集团经营租赁所得
锦江汽车宋园路 177 号房屋建筑 5,293,197.49 该建筑物所在土地系 --
物 向集团经营租赁所得
尚海食品外马路 1218 号及其他房 5,095,786.76 该建筑物所在土地系 --
屋建筑物 划拨土地
固定资产说明：
(1) 账面原值本年增加中，因购置而增加人民币 348,744,716.17 元，因在建工程转入而增加人民币
63,154,101.93 元；
(2) 账面原值本年减少中，因处置而减少人民币 186,054,009.93 元；
(3) 累计折旧本年增加中，本年计提人民币 224,656,183.40 元；
(4) 累计折旧本年减少中，因处置而减少人民币 160,190,257.47 元。
13、在建工程
(1)在建工程明细如下：
人民币元
项目 年末数 年初数
账面余额 减值准备 账面净值 账面余额 减值准备 账面净值
未达使用状态之车辆 - - - 8,889,095.00 - 8,889,095.00
机动车交通事故快速理
赔中心 61,363,791.22 - 61,363,791.22 25,844,234.60 - 25,844,234.60
超低温仓储物流项目 - - - 13,854,120.80 - 13,854,120.80
其他 138,300.00 - 138,300.00 7,744,283.63 - 7,744,283.63
合计 61,502,091.22 - 61,502,091.22 56,331,734.03 - 56,331,734.03
第 39 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
13、在建工程 - 续
(2)重大在建工程项目变动情况
人民币元
项目名称 预算数 年初数 本年增加 转入固定资产 工程投入 工程进度 利息资本化 其中：本年利 本年利息资本 资金来源 年末数
占预算比 累计金额 息资本化金 化率(%)
例(%) 额
机动车交通事故快速理赔中心
65,000,000.00 25,844,234.60 35,519,556.62 - 94 主体工程基本已完工 - - 不适用 自筹 61,363,791.22
及地下车库
超低温仓储物流项目 34,000,000.00 13,854,120.80 22,135,430.78 (35,989,551.58) 100 已经完工 - - 不适用 自筹 -
合计 -- 39,698,355.40 57,654,987.40 (35,989,551.58) -- - - -- -- 61,363,791.22
第 40 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
14、无形资产
(1)无形资产情况
人民币元
项目 年初余额 本年增加 本年减少 年末余额
一、账面原值合计 225,578,250.55 21,110,700.00 - 246,688,950.55
土地使用权 95,271,819.20 - - 95,271,819.20
出租车营运牌照 130,306,431.35 21,110,700.00 - 151,417,131.35
二、累计摊销合计 9,608,004.32 1,079,580.28 - 10,687,584.60
土地使用权 3,577,652.20 1,079,580.28 - 4,657,232.48
出租车营运牌照 6,030,352.12 - - 6,030,352.12
三、无形资产账面净值合计 215,970,246.23 - - 236,001,365.95
土地使用权 91,694,167.00 - - 90,614,586.72
出租车营运牌照 124,276,079.23 - - 145,386,779.23
四、减值准备合计 - - - -
土地使用权 - - - -
出租车营运牌照 - - - -
五、无形资产账面价值合计 215,970,246.23 - - 236,001,365.95
土地使用权 91,694,167.00 - - 90,614,586.72
出租车营运牌照 124,276,079.23 - - 145,386,779.23
(2) 未办妥产权证书的无形资产情况
子公司尚海食品净值为人民币 14,230,400 元(年初数：人民币 14,230,400 元)的土地使用权产权证明尚未
更新。
无形资产的说明：
(1)账面原值本年增加中，因购置而增加人民币 21,110,700.00 元。
(2)累计摊销本年增加中，本年计提人民币 1,079,580.28 元。
土地使用权中有账面价值人民币 42,106,800.00 元(年初数：人民币 42,106,800.00 元)系划拨用地，因划拨
用地土地证中未明确使用年限，本集团管理层认为在可预见的将来该土地使用权均会使用并带给本集团
预期的经济利益流入，故其使用寿命是不确定的。
本集团所拥有的出租车营运牌照并无使用年限限制，本集团管理层认为在可预见的将来该出租车营运牌
照均会使用并带给本集团预期的经济利益流入，故其使用寿命是不确定的。
第 41 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
15、递延所得税资产/递延所得税负债
(一)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
(1)已确认的递延所得税资产和递延所得税负债
人民币元
项目 年末数 年初数
递延所得税资产：
资产减值准备 1,113,066.60 1,112,813.25
尚未支付费用 581,277.00 628,516.93
小计 1,694,343.60 1,741,330.18
递延所得税负债：
计入资本公积的可供出售金融资产公允
价值变动 21,363,965.91 36,401,815.26
小计 21,363,965.91 36,401,815.26
(2)未确认递延所得税资产明细
人民币元
项目 年末数 年初数
可抵扣暂时性差异 3,033,378.20 2,911,668.00
可抵扣亏损 1,831,688.40 3,611,254.18
合计 4,865,066.60 6,522,922.18
由于未来能否获得足够的应纳税所得额具有不确定性，因此上述可抵扣暂时性差异和可抵扣亏损没有确
认为递延所得税资产。
(3)未确认递延所得税资产的可抵扣亏损将于以下年度到期
人民币元
年份 年末数 年初数 备注
2012 年 - 1,068,171.86 --
2013 年 782,558.03 1,339,743.06 --
2014 年 894,923.00 1,203,339.26 --
2015 年 154,207.37 - --
合计 1,831,688.40 3,611,254.18 --
第 42 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
15、递延所得税资产/递延所得税负债 - 续
(4)引起暂时性差异的资产或负债项目对应的暂时性差异
人民币元
项目 暂时性差异金额
年末数：
可抵扣暂时性差异和可抵扣亏损：
资产减值准备 4,452,266.38
尚未支付费用 2,325,107.99
小计 6,777,374.37
应纳税暂时性差异：
计入资本公积的可供出售金融资产公允价值变动 85,455,863.67
小计 85,455,863.67
年初数：
可抵扣暂时性差异和可抵扣亏损：
资产减值准备 4,451,253.00
尚未支付费用 2,514,067.69
小计 6,965,320.69
应纳税暂时性差异：
计入资本公积的可供出售金融资产公允价值变动 145,607,261.10
小计 145,607,261.10
16、资产减值准备明细
人民币元
本年减少
项目 年初余额 本年增加 转回 转销 处置子公司减少 年末余额
一、坏账准备 355,227.45 122,723.58 - - - 477,951.03
二、长期股权投资减值准备 4,919,253.00 - - - - 4,919,253.00
三、固定资产减值准备 2,088,440.55 - - - - 2,088,440.55
合计 7,362,921.00 122,723.58 - - - 7,485,644.58
17、其他非流动资产
人民币元
项目 年末数 年初数
预付投资款(注 1) 15,262,988.76 15,262,988.76
应收长期垫付款(注 2) 8,461,333.90 12,692,000.57
减：一年内到期的非流动资产 4,230,666.67 4,230,666.67
合计 19,493,655.99 23,724,322.66
其他非流动资产的说明：
注 1：系预付国泰君安证券股份有限公司的投资款。
注 2：系无偿为上海浦东国际机场货运站有限公司垫付的货运站建筑物、设备和场地租赁的租金共计人
民币 50,768,000.00 元。该款项由上海浦东国际机场货运站有限公司自 2001 年 1 月 1 日起按 12 年进行等
额分期偿还。
第 43 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
18、短期借款
短期借款分类：
人民币元
项目 年末数 年初数
委托借款 130,000,000.00 -
合计 130,000,000.00 -
短期借款系锦江国际(集团)有限公司通过锦江国际集团财务有限责任公司提供给锦江汽车的委托贷款。
详见附注(六)5(4)。
19、应付票据
人民币元
种类 年末数 年初数
银行承兑汇票 12,405,900.00 -
合计 12,405,900.00
下一会计期间将到期的金额为人民币 12,405,900.00 元。
20、应付账款
(1)应付账款明细如下：
人民币元
项目 年末数 年初数
购买商品、接受劳务应付款项 60,870,540.61 51,298,880.63
合计 60,870,540.61 51,298,880.63
(2)本报告期应付账款中无应付持有公司 5%(含 5%)以上表决权股份的股东单位情况。
(3)本报告期应付账款中应付关联方账款情况详见附注(六)6。
21、预收款项
(1)预收账款明细如下：
人民币元
项目 年末数 年初数
销售商品、提供劳务预收款项 107,382,501.97 98,009,797.19
合计 107,382,501.97 98,009,797.19
(2)本报告期预收账款中无预收持有公司 5%(含 5%)以上表决权股份的股东单位或关联方的款项。
第 44 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
22、应付职工薪酬
人民币元
项目 年初余额 本年增加 本年减少 年末余额
一、工资、奖金、津贴和补贴 6,026,003.24 274,095,099.26 (270,260,065.71) 9,861,036.79
二、职工福利费 20,625,039.60 5,680,009.21 (12,585,965.84) 13,719,082.97
三、社会保险费 9,953,938.20 126,566,387.70 (129,521,592.61) 6,998,733.29
其中：医疗保险费 2,716,296.01 37,408,989.33 (37,883,500.17) 2,241,785.17
基本养老保险费 6,479,614.00 78,258,984.20 (80,546,141.16) 4,192,457.04
失业保险费 460,050.89 7,217,144.07 (7,296,919.54) 380,275.42
工伤保险费 79,766.40 2,003,577.15 (1,991,235.72) 92,107.83
生育保险费 218,210.90 1,677,692.95 (1,803,796.02) 92,107.83
四、住房公积金 28,921.30 28,660,889.71 (28,689,811.01) -
五、辞退福利 - 1,708,584.64 (1,708,584.64) -
六、其他 31,616,280.41 775,057.74 (6,614,017.48) 25,777,320.67
其中：工会经费和职工教育经费 9,084,418.50 775,057.74 (2,082,373.27) 7,777,102.97
内退职工补助 13,692,776.73 - (2,681,290.18) 11,011,486.55
退休职工补助 8,839,085.18 - (1,850,354.03) 6,988,731.15
合计 68,250,182.75 437,486,028.26 (449,380,037.29) 56,356,173.72
应付职工薪酬中无属于拖欠性质的金额。
工会经费和职工教育经费余额人民币 7,777,102.97 元。
23、应交税费
人民币元
项目 年末数 年初数
增值税 615,748.82 611,164.50
营业税 5,240,310.17 3,128,899.89
企业所得税 20,667,340.95 18,170,163.21
个人所得税 850,984.55 953,433.92
城市维护建设税 342,159.53 294,478.78
其他 2,553,146.88 2,481,638.27
合计 30,269,690.90 25,639,778.57
24、应付股利
人民币元
单位名称 年末数 年初数 超过 1 年未支付原因
原法人股股利 20,062,281.35 20,869,833.55 尚未领取
合计 20,062,281.35 20,869,833.55 --
25、其他应付款
(1)其他应付款明细如下：
人民币元
项目 年末数 年初数
押金及保证金 103,554,794.09 104,285,409.94
重组欠款 39,821,129.93 39,821,129.93
其他 135,118,109.94 108,931,517.06
合计 278,494,033.96 253,038,056.93
账龄超过一年的主要系押金、保证金及重组欠款。
第 45 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
25、其他应付款 - 续
(2)本报告期其他应付款中应付持有公司 5%(含 5%)以上表决权股份的股东单位的款项情况如下：
人民币元
单位名称 年末数 年初数
锦江国际(集团)有限公司 5,000,000.00 3,000,000.00
合计 5,000,000.00 3,000,000.00
(3)本报告期其他应付款中应付关联方账款情况详见附注(六)6。
26、其他流动负债
人民币元
项目 年末数 年初数
预收股权转让款 89,761,965.10 -
预收增资款 23,022,718.00
合计 112,784,683.10 -
其他流动负债系本集团转让子公司低温物流部分股权预收的转让款及增资款。有关期后事项详见附注
(九)2(2)。
27、其他非流动负债
人民币元
项目 年末数 年初数
动迁安置费 20,096,690.65 20,608,557.53
递延收益 32,293,301.92 28,793,301.92
合计 52,389,992.57 49,401,859.45
第 46 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
28、股本
人民币元
本年变动
年初数 年末数
其他
2010 年度：
一、有限售条件股份
1. 国有法人持股 157,425,450.00 (157,425,450.00) -
有限售条件股份合计 157,425,450.00 (157,425,450.00) -
二、无限售条件股份
1. 人民币普通股 233,134,625.00 157,425,450.00 390,560,075.00
2. 境内上市外资股 161,050,032.00 - 161,050,032.00
无限售条件股份合计 394,184,657.00 157,425,450.00 551,610,107.00
三、股份总数 551,610,107.00 - 551,610,107.00
2009 年度：
一、有限售条件股份
1. 国有法人持股 185,005,955.00 (27,580,505.00) 157,425,450.00
有限售条件股份合计 185,005,955.00 (27,580,505.00) 157,425,450.00
二、无限售条件股份
1. 人民币普通股 205,554,120.00 27,580,505.00 233,134,625.00
2. 境内上市外资股 161,050,032.00 - 161,050,032.00
无限售条件股份合计 366,604,152.00 27,580,505.00 394,184,657.00
三、股份总数 551,610,107.00 - 551,610,107.00
2009 年 2 月 13 日本集团第三次安排有限售条件(仅限股改形成)的流通股上市，上市数量为 27,580,505
股，占本集团总股份比例为 5%。
2010 年 2 月 26 日本集团第四次安排有限售条件(仅限股改形成)的流通股上市，上市数量为 157,425,450
股，占本集团总股份比例为 29%。
29、资本公积
人民币元
项目 年初数 本年增加 本年减少 年末数
2010 年度：
资本溢价 266,218,226.90 266,218,226.90
其中：投资者投入的资本 266,218,226.90 266,218,226.90
其他综合收益 111,780,115.90 (46,064,618.35) 65,715,497.55
其他资本公积 104,470,768.36 104,470,768.36
其中：原制度资本公积转入(注 1) 98,665,171.28 98,665,171.28
分步实现的非同一控制下企业合并调整 5,805,597.08 5,805,597.08
合计 482,469,111.16 (46,064,618.35) 436,404,492.81
2009 年度：
资本溢价 266,218,226.90 - - 266,218,226.90
其中：投资者投入的资本 266,218,226.90 - - 266,218,226.90
其他综合收益 51,785,288.74 66,416,291.09 (6,421,463.93) 111,780,115.90
其他资本公积 119,048,162.60 - (14,577,394.24) 104,470,768.36
其中：原制度资本公积转入(注 1) 113,242,565.52 - (14,577,394.24) 98,665,171.28
分步实现的非同一控制下企业合并调整 5,805,597.08 - - 5,805,597.08
合计 437,051,678.24 66,416,291.09 (20,998,858.17) 482,469,111.16
注： (1)原制度资本公积转入可用于增资、冲减同一控制下企业合并产生的合并差额等。
第 47 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
30、盈余公积
人民币元
项目 年初数 本年增加 年末数
2010 年度：
法定盈余公积 197,209,908.31 20,393,785.98 217,603,694.29
任意盈余公积 10,684,636.00 - 10,684,636.00
合计 207,894,544.31 20,393,785.98 228,288,330.29
2009 年度：
法定盈余公积 172,910,048.76 24,299,859.55 197,209,908.31
任意盈余公积 10,684,636.00 - 10,684,636.00
合计 183,594,684.76 24,299,859.55 207,894,544.31
31、未分配利润
人民币元
项目 金额 提取或分配比例
2010 年度：
年初未分配利润 701,034,222.87
加：本年归属于母公司所有者的净利润 284,207,585.89
减：提取法定盈余公积 20,393,785.98 注(1)
应付普通股股利 165,483,032.10 注(2)
年末未分配利润 799,364,990.68 注(4)
2009 年度：
年初未分配利润 621,386,177.73
加：本年归属于母公司所有者的净利润 269,430,936.79
减：提取法定盈余公积 24,299,859.55 注(1)
应付普通股股利 165,483,032.10
年末未分配利润 701,034,222.87 注(4)
注：
(1) 提取法定盈余公积
根据公司章程规定，法定盈余公积金按净利润之 10%提取。公司法定盈余公积金累计额为公司注册资本
50%以上的，可不再提取。
(2) 本年度股东大会已批准的现金股利
于 2010 年 6 月 18 日经股东大会批准，公司按已发行之股份 551,610,107 股(每股面值人民币 1 元)计算，
以每 10 股向全体股东派发现金红利 3 元(含税)。
(3) 资产负债表日后决议的利润分配情况
根据 2011 年 3 月 29 日董事会提议，按已发行之股份 551,610,107 股(每股面值 1 元)计算，拟以每 10 股
向全体股东派发现金红利 3 元(含税)。上述股利分配方案尚待股东大会批准。
(4) 子公司已提取的盈余公积
截止 2010 年 12 月 31 日，集团未分配利润余额中包括子公司已提取的盈余公积为人民币 309,269,059.39
元(2009 年 12 月 31 日：人民币 229,384,529.19 元)
第 48 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
32、营业收入、营业成本
(1)营业收入
人民币元
项目 本年发生额 上年发生额
主营业务收入 1,807,596,633.89 1,562,214,504.79
其他业务收入 33,986,046.44 36,181,715.88
营业成本 1,366,645,791.33 1,156,375,275.34
(2)主营业务(分行业)
人民币元
本年发生额 上年发生额
行业名称 营业收入 营业成本 营业收入 营业成本
车辆营运业务 1,136,127,679.84 773,983,454.71 990,550,233.18 656,410,001.51
汽车销售业务 575,920,019.59 541,494,491.18 487,105,977.86 454,190,145.24
酒店及相关业务 24,297,104.83 3,834,512.90 20,783,121.61 3,535,007.96
低温物流业务 71,251,829.63 35,392,725.55 63,775,172.14 33,284,282.53
合计 1,807,596,633.89 1,354,705,184.34 1,562,214,504.79 1,147,419,437.24
(3)集团前五名客户的营业收入情况
人民币元
客户名称 营业收入 占公司全部营
业收入的比例
(%)
客户一 35,235,658.00 2
客户二 24,078,407.77 1
客户三 14,669,887.02 1
客户四 14,568,233.00 1
客户五 11,322,435.00 1
合计 99,874,620.79 6
33、营业税金及附加
人民币元
项目 本年发生额 上年发生额 计缴标准
营业税 37,805,872.01 35,560,675.96 详见附注(三)
城市维护建设税 2,873,828.98 2,748,866.80 详见附注(三)
教育费附加 1,350,817.85 1,310,537.79 详见附注(三)
合计 42,030,518.84 39,620,080.55 --
34、销售费用
人民币元
项目 本年发生额 上年发生额
工资及福利费 88,420,916.44 81,924,996.82
固定资产折旧 9,003,817.53 8,955,818.31
其他 41,782,473.81 42,279,205.22
合计 139,207,207.78 133,160,020.35
第 49 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
35、管理费用
人民币元
项目 本年发生额 上年发生额
工资及福利费 68,990,511.80 85,163,162.62
固定资产折旧 5,366,586.83 3,808,674.19
无形资产摊销 1,079,580.28 1,079,580.12
投资性房地产摊销 771,759.24 784,715.04
其他 38,732,452.09 45,115,939.78
合计 114,940,890.24 135,952,071.75
36、财务费用
人民币元
项目 本年发生额 上年发生额
利息支出 3,163,899.92 1,158,276.43
减﹕利息收入 7,120,221.49 9,373,501.56
汇兑差额 246,846.79 138,467.14
其他 1,770,632.36 1,141,095.77
合计 (1,938,842.42) (6,935,662.22)
37、投资收益
(1)投资收益明细情况
人民币元
项目 本年发生额 上年发生额
成本法核算的长期股权投资收益 8,189,382.03 16,632,526.70
权益法核算的长期股权投资收益 151,808,089.26 115,570,899.37
处置长期股权投资产生的投资收益 1,040,029.98 17,798,056.85
持有可供出售金融资产等期间取得的投资收益 2,087,008.70 2,199,833.80
处置交易性金融资产取得的投资收益 911,487.22 758,121.25
处置可供出售金融资产等取得的投资收益 16,668,238.47 22,749,386.23
合计 180,704,235.66 175,708,824.20
(2)按权益法核算的重大长期股权投资收益
人民币元
本年比上年增减
被投资单位 本年发生额 上年发生额 变动的原因
上海浦东国际机场货运站有限公司 96,835,732.41 61,375,364.15 本年走出金融危机影响
而导致业务量上升
上海大众新亚出租汽车有限公司 9,607,923.56 12,438,303.29 本年业务量小幅下降
锦海捷亚国际货运有限公司 14,515,896.15 10,593,618.91 本年摆脱金融危机影
响，业务量回升
合计 120,959,552.12 84,407,286.35 --
本集团投资收益汇回不存在重大限制。
第 50 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
38、资产减值损失
人民币元
项目 本年发生额 上年发生额
一、坏账损失 122,723.58 33,363.88
合计 122,723.58 33,363.88
39、营业外收入
(1) 营业外收入明细如下：
人民币元
项目 本年发生额 上年发生额 计入本期非经常性
损益的金额
非流动资产处置利得合计 16,351,891.96 20,425,838.06 1,680,810.77
其中：固定资产处置利得 16,351,891.96 20,425,838.06 1,680,810.77
政府补助 2,786,854.62 7,281,256.32 2,786,854.62
罚款收入 1,656,902.12 1,788,280.33 1,656,902.12
其他 3,876,760.57 2,528,962.73 3,876,760.57
合计 24,672,409.27 32,024,337.44 10,001,328.08
(2)政府补助明细
人民币元
项目 本年发生额 上年发生额 说明
财政返还 2,255,987.83 1,816,247.20 --
优惠乘车补贴 - 1,397,950.75 --
油价补贴 - 1,615,392.33 --
线路优化补贴 - 2,101,033.44 --
其他财政拨款 530,866.79 88,132.60 --
递延收益 - 262,500.00 --
合计 2,786,854.62 7,281,256.32 --
40、营业外支出
人民币元
项目 本年发生额 上年发生额 计入本期非经常
性损益的金额
非流动资产处置损失合计 901,747.50 319,630.42 901,747.50
其中：固定资产处置损失 901,747.50 319,630.42 901,747.50
其他 42,550.05 408,403.51 42,550.05
合计 944,297.55 728,033.93 944,297.55
第 51 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
41、所得税费用
人民币元
项目 本年发生额 上年发生额
按税法及相关规定计算的当期所得税 45,944,634.98 39,005,243.35
递延所得税调整 46,986.58 49,775.40
汇算清缴差异 (69,680.56) (902,365.90)
合计 45,921,941.00 38,152,652.85
所得税费用与会计利润的调节表如下：
人民币元
本年发生额 上年发生额
会计利润 385,006,738.36 347,196,198.73
按 22%的税率计算的所得税费用(上年度：20%) 84,701,482.44 69,439,239.75
不可抵扣费用的纳税影响 1,197,893.00 956,294.73
免税收入的纳税影响 (36,957,770.85) (28,598,788.86)
加计扣除费用的纳税影响 (286,534.93) (314,410.90)
未确认可抵扣亏损和可抵扣暂时性差异的纳税影响 54,001.62 300,834.82
利用以前年度未确认可抵扣亏损和可抵扣暂时性差异的纳税影响 (425,430.09) (407,180.18)
子公司税率不一致的影响 1,283,580.37 642,249.16
汇算清缴差异 (69,680.56) (902,365.90)
购买国产设备退税 (3,575,600.00) (2,963,219.77)
合计 45,921,941.00 38,152,652.85
42、基本每股收益和稀释每股收益的计算过程
计算基本每股收益时，归属于普通股股东的当期净利润为：
人民币元
本年发生额 上年发生额
归属于普通股股东的当期净利润 284,207,585.89 269,430,936.79
其中：归属于持续经营的净利润 284,207,585.89 269,430,936.79
计算基本每股收益时，分母为发行在外普通股加权平均数，计算过程如下：
人民币元
本年发生额 上年发生额
年初发行在外的普通股股数 551,610,107.00 551,610,107.00
加：本年发行的普通股加权数 - -
减：本年回购的普通股加权数 - -
年末发行在外的普通股加权数 551,610,107.00 551,610,107.00
第 52 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
42、基本每股收益和稀释每股收益的计算过程 - 续
每股收益
人民币元
本年发生额 上年发生额
按归属于母公司股东的净利润计算：
基本每股收益 0.515 0.488
稀释每股收益 不适用 不适用
按归属于母公司股东的持续经营净利润计算：
基本每股收益 0.515 0.488
稀释每股收益 不适用 不适用
按归属于母公司股东的终止经营净利润计算：
基本每股收益 不适用 不适用
稀释每股收益 不适用 不适用
注：本集团于 2010 年 12 月 31 日不存在稀释性潜在普通股。
43、其他综合收益
人民币元
项目 本年发生额 上年发生额
1.可供出售金融资产产生的利得(损失)金额 (42,526,524.90) 84,811,588.99
减：可供出售金融资产产生的所得税影响 (10,631,631.23) 21,202,897.25
前期计入其他综合收益当期转入损益的净额 13,218,654.40 6,421,589.43
小计 (45,113,548.07) 57,187,102.31
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 (1,054,856.61) 3,136,353.00
的份额
小计 (1,054,856.61) 3,136,353.00
合计 (46,168,404.68) 60,323,455.31
44、现金流量表项目注释
(1)收到的其他与经营活动有关的现金
人民币元
项目 本年发生额 上年发生额
收到的利息收入 7,120,221.49 9,373,501.56
收到的其他经营活动款项 15,396,117.31 11,335,999.38
合计 22,516,338.80 20,709,500.94
(2)支付的其他与经营活动有关的现金
人民币元
项目 本年发生额 上年发生额
支付的其他经营性费用及款项 70,704,818.21 84,621,613.59
合计 70,704,818.21 84,621,613.59
第 53 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
44、现金流量表项目注释 - 续
(3)收到的其他与投资活动有关的现金
人民币元
项目 本年发生额 上年发生额
收回其他非流动资产 4,230,666.67 4,230,666.67
合计 4,230,666.67 4,230,666.67
(4)支付的其他与投资活动有关的现金
人民币元
项目 本年发生额 上年发生额
向少数股东归还长期应付款 - 560,563.33
合计 - 560,563.33
45、现金流量表补充资料
(1)现金流量表补充资料
人民币元
补充资料 本年金额 上年金额
1．将净利润调节为经营活动现金流量：
净利润 339,084,797.36 309,043,545.88
加：资产减值准备 122,723.58 33,363.88
固定资产折旧 224,656,183.40 218,994,965.41
无形资产摊销 1,079,580.28 1,079,580.12
投资性房地产摊销及折旧 771,759.24 771,759.24
长期待摊费用摊销 12,955.80 12,955.80
处置固定资产、无形资产和其他长期资产的损失(收益以“－”
(15,450,144.46) (20,106,207.64)
号填列)
财务费用(收益以“－”号填列) 3,163,899.92 1,158,276.43
投资损失(收益以“－”号填列) (180,704,235.66) (175,708,824.20)
递延所得税资产减少(增加以“－”号填列) 46,986.58 49,775.40
存货的减少(增加以“－”号填列) (6,071,138.03) (2,313,901.52)
经营性应收项目的减少(增加以“－”号填列) (699,005.86) (42,733,308.54)
经营性应付项目的增加(减少以“－”号填列) 52,723,781.14 34,069,041.58
经营活动产生的现金流量净额 418,738,143.29 324,351,021.84
2．现金及现金等价物净变动情况：
现金的年末余额 757,555,245.06 549,074,409.21
减：现金的年初余额 549,074,409.21 609,605,573.31
现金及现金等价物净(减少)增加额 208,480,835.85 (60,531,164.10)
第 54 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(五) 合并财务报表项目注释 - 续
45、现金流量表补充资料 - 续
(2)本年取得或处置子公司及其他营业单位的相关信息
人民币元
项目 本年发生额 上年发生额
一、取得子公司及其他营业单位的有关信息：
1． 取得子公司及其他营业单位的价格 - -
2． 取得子公司及其他营业单位支付的现金和现金等价物 - -
减：子公司及其他营业单位持有的现金和现金等价物 - -
3． 取得子公司及其他营业单位支付的现金净额 - -
4． 取得子公司的净资产
二、处置子公司及其他营业单位的有关信息：
1． 处置子公司及其他营业单位的价格 - 29,739,618.36
2． 处置子公司及其他营业单位收到的现金和现金等价物 1,539,618.36 28,200,000.00
减：子公司及其他营业单位持有的现金和现金等价物 - 18,781,149.30
3． 处置子公司及其他营业单位收到的现金净额 1,539,618.36 9,418,850.70
4． 处置子公司的净资产 - 35,996,676.06
流动资产 - 37,010,177.35
非流动资产 - 55,744,340.34
流动负债 - 52,610,341.63
非流动负债 - 4,147,500.00
注：本年发生额系本集团收到了上年处置子公司上海锦江公共交通有限公司的转让余款。
(3)现金和现金等价物的构成
人民币元
项目 年末数 年初数
一、现金 757,555,245.06 549,074,409.21
其中：库存现金 554,266.49 394,607.62
可随时用于支付的银行存款 757,000,978.57 548,679,801.59
二、年末现金及现金等价物余额 757,555,245.06 549,074,409.21
第 55 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(六) 关联方及关联交易
1、本企业的母公司情况
人民币元
母公司
对本企
母公司对本 业的表
企业的持股 决权比 本企业
母公司名称 关联关系 企业类型 注册地 法人代表 业务性质 注册资本 比例(%) 例(%) 最终控制方 组织机构代码
锦江国际(集 母公司 有限责任 上海 俞敏亮 国有资产经营与管 2,000,000,000 38.54 锦 江 集 锦江国际 13222031-2
团)有限公司 公司(国 理，企业投资及管理， 团 享 有 ( 集团 )有 限
(“锦江集团”) 有独资) 饭店管理，游乐业配 的 表 决 公司(“锦江
套服务，国内贸易， 权 比 例 集团”)
物业管理，自有办公 与 持 股
楼、公寓租赁，产权 比 例 一
纪经及相关项目咨 致
询。
2、本企业的子公司情况
本企业的子公司情况详见附注(四)1。
3、本企业的合营和联营企业情况
本企业的合营和联营企业情况详见附注(五)9。
第 56 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(六) 关联方及关联交易 - 续
4、本集团的其他关联方情况
其他关联方名称 其他关联方与本公司关系
上海锦江饭店有限公司 控股股东之子公司
上海锦江旅游有限公司 控股股东之子公司
上海锦江国际酒店物品有限公司 控股股东之子公司
上海旅行社有限公司 控股股东之子公司
上海国旅国际旅行社股份有限公司 控股股东之子公司
上海食品(集团)有限公司 控股股东之子公司
上海华亭海外旅游公司 控股股东之子公司
上海锦江国际旅游股份有限公司 控股股东之子公司
锦江之星旅馆有限公司 控股股东之子公司
锦江国际集团(香港)有限公司 控股股东之子公司
上海银河宾馆有限公司 控股股东之子公司
上海锦江国际酒店(集团)股份有限公司新锦江大酒店 控股股东之分公司
上海东锦江大酒店有限公司(以下简称"东锦江") 控股股东之子公司
锦江国际集团财务有限责任公司 控股股东之子公司
上海茂昌食品有限公司 控股股东之子公司
以上各公司统称为锦江集团下属公司。
第 57 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(六) 关联方及关联交易 - 续
5、关联交易情况
(1)购销商品、提供和接受劳务的关联交易
人民币元
本年发生额 上年发生额
占同类交易 占同类交易
关联方 关联交易类型 关联交易内容 金额 金额的比例(%) 金额 金额的比例(%)
锦江集团 提供劳务 车辆营运业务收入 1,551,017.00 - 3,433,477.00 -
锦江集团下属公司 提供劳务 车辆营运业务收入 11,266,628.40 1 4,972,386.00 1
上海日产汽车维修中心 提供劳务 车辆营运业务收入 191,160.00 - - -
锦江集团下属公司 提供劳务 管理服务收入 230,000.00 - - -
锦江集团下属公司 购销商品 采购物品 211,440.00 - 22,549.00 -
上海锦江汽车销售服务有限公司 购销商品 采购固定资产支出 118,335,559.38 34 76,419,747.53 31
锦江集团下属公司 接受劳务 管理费用(注 1) 692,529.29 - 539,015.18 -
上海金茂锦江汽车服务有限公司 让渡资产使用权 利息收入 - - 39,757.50 -
锦江集团 接受资产使用权 利息支出 748,799.99 - - -
锦江集团 股权转让 东锦江股权转让对价(注 2) 17,583,797.00 - - -
定价原则及决策程序：根据本集团与各关联方签订的有关综合服务协议、产品购销合同等协议的规定定价。重大关联交易需经董事会批准通过。
注 1：应支付给锦江集团及其下属公司的管理费以酒店经营收入的 2%和酒店经营利润的 4%计算加总，作为其提供服务的酬劳，服务包括一般行政、市场推广
及采购等。
注 2：本年度本集团将持有的上海东锦江大酒店有限公司 1.87%的股权转让给锦江国际(集团)有限公司，转让价款为人民币 17,583,797 元，产生投资收益人民
币 1,011,279.19 元。
第 58 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(六) 关联方及关联交易 - 续
5、关联交易情况 - 续
(2)关联租赁情况
租赁收入
人民币元
出租方名称 承租方名称 租赁资产情况 租赁收益 租赁收益确定依据 租赁收益对公司影响
上海锦江汽车服务有限公司 上海锦江汽车销售服务有限公司 房屋及建筑物 839,520.00 租赁合同 不重大
上海锦江汽车服务有限公司 上海石油集团长乐加油站有限公司 房屋及建筑物 200,000.00 租赁合同 不重大
租赁费用
人民币元
出租方名称 承租方名称 租赁资产情况 租赁起始日 租赁终止日 租赁费用 租赁费用确定依据 租赁费用对公司影响
上 海 日 产 汽 上海锦茂汽车销 房屋 2010 年 1 月 1 日 2010 年 12 月 31 日 600,000.00 租赁合同 不重大
车维修中心 售服务有限公司
锦江集团 锦江汽车 土地使用权 2003 年 12 月 1 日 2013 年 11 月 30 日 3,000,000.00 租赁合同 不重大
锦江集团(注) 锦江投资 房屋 注 注 116,232.00 租赁合同 不重大
注：本集团租赁锦江集团的房屋到期后不再续签合同，仅支付少量租赁费用，如按原合同价格计算，本年度未计的租赁费用为人民币 1,560,000.00 元。
(3)关联担保情况
人民币元
担保方 被担保方 担保金额 担保起始日 担保到期日 担保是否已经履行完毕
上海锦江汽车服务有限公司 上海永达风度汽车销售服务有限公司 3,600,000.00 2010 年 4 月 12 日 2012 年 4 月 12 日 否
上海锦江汽车服务有限公司 上海永达风度汽车销售服务有限公司 4,000,000.00 2010 年 2 月 5 日 2013 年 2 月 6 日 否
上海锦江汽车服务有限公司 上海永达风度汽车销售服务有限公司 8,000,000.00 2010 年 1 月 8 日 2011 年 1 月 7 日 否
第 59 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(六) 关联方及关联交易 - 续
5、关联交易情况 - 续
(4)关联方资金拆借
本年度：
人民币元
关联方 拆借金额 起始日 到期日 本年末余额 说明
拆入
锦江集团 200,000,000.00 2010 年 11 月 4 日 2011 年 11 月 4 日 130,000,000.00 --
拆出
上海浦东国际机场
50,768,000.00 2001 年 1 月 1 日 2012 年 12 月 31 日 8,461,333.90 --
货运站有限公司
上年度：
人民币元
关联方 拆借金额 起始日 到期日 上年末余额 说明
拆出
上海浦东国际机场
50,768,000.00 2001 年 1 月 1 日 2012 年 12 月 31 日 12,692,000.57 --
货运站有限公司
(5)关键管理人员报酬
人民币元
项目名称 本年发生额 上年发生额
关键管理人员报酬 2,620,000.00 2,910,000.00
6、关联方应收应付款项
人民币元
项目名称 关联方 年末金额 年初金额
应收账款 锦江集团 11,000.00 34,707.00
应收账款 锦江集团下属公司 1,189,833.00 366,183.00
其他应收款 上海锦江汽车销售服务有限公司 5,445,006.00 -
其他应收款 上海锦江客运有限公司 303,518.53 -
预付款项 锦江集团下属公司 - 23,600.00
预付款项 上海锦江汽车销售服务有限公司 6,098,134.00 21,335,467.19
应付账款 上海永达风度汽车销售服务有限公司 7,621,772.43 7,606,516.33
应付账款 上海锦江汽车销售服务有限公司 494,676.67 -
其他应付款 锦江集团 5,000,000.00 3,000,000.00
其他应付款 上海锦江客运有限公司 58,970.74 295,820.15
其他应付款 锦江集团下属公司 44,884,564.22 43,687,077.29
其他应付款 上海锦江佳友汽车服务有限公司 2,635,290.70 -
其他应付款 上海锦江汽车销售服务有限公司 1,462,900.00 1,694,300.00
其他应付款 上海日产汽车维修中心 6,960,837.93 6,842,958.91
第 60 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(七) 或有事项
1、为其他单位提供债务担保形成的或有负债及其财务影响
本年度，子公司上海锦江汽车服务有限公司为上海永达风度汽车销售服务有限公司人民币 15,600,000.00
元(2009 年：人民币 13,600,000.00 元)的短期借款提供担保，详见附注(六)5(3)。
本年度，子公司上海锦江商旅汽车服务股份有限公司为上海南站长途客运有限公司人民币 12,500,000.00
元(2009 年：人民币 12,500,000.00 元)的短期借款提供担保。
(八) 承诺事项
1、重大承诺事项
(1)资本承诺
人民币千元
年末数 年初数
已签约但尚未于财务报表中确认的
- 购建长期资产承诺 39,298 -
- 工程合同 12,516 32,791
合计 51,814 32,791
(2)经营租赁承诺
至资产负债表日止，本集团对外签订的不可撤销的经营租赁合约情况如下：
人民币千元
年末数 年初数
不可撤销经营租赁的最低租赁付款额：
资产负债表日后第 1 年 7,246 8,119
资产负债表日后第 2 年 6,755 6,430
资产负债表日后第 3 年 6,017 6,331
以后年度 3,932 6,858
合计 23,950 27,738
(九) 资产负债表日后事项
1、资产负债表日后利润分配情况说明
详见附注(五)31 注(3)。
第 61 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(九) 资产负债表日后事项 - 续
2、其他资产负债表日后事项说明
(1) 公司大股东变更事项：锦江投资接到中国证券登记结算有限责任公司上海分公司过户登记确认书，
确认锦江国际(集团)有限公司向上海锦江国际酒店(集团)股份有限公司转让其持有的本公司
212,586,460 股国有股(占本公司总股本的38.54%)的过户事宜已办理完毕。上海锦江国际酒店(集团)
股份有限公司已成为本公司的第一大股东。锦江国际(集团)有限公司不再持有本公司股份。锦江投资
已按相关规定取得外商投资企业批准证书，并将办理工商变更登记手续。
(2) 子公司低温物流部分股权变更事项：本年度，根据协议本公司拟将持有的子公司低温物流 38.33%的
股权，本公司之子公司锦江汽车拟将其持有的低温物流 5%的股权，连同权利及义务转让给新加坡
Mitsui & Co. (Asia Pacific) Pte. Ltd.(以下简称“三井物产”)，并由三井物产增加低温物流的注册资本，
从而将低温物流变更为一家中外合资的有限责任公司。根据约定，三井物产于 2011 年 1 月 1 日起有
权行使法律、合资合同和新章程规定其所应享有的股东权利并承担相应的义务。低温物流于 2011 年
1 月 18 日取得上海市工商行政管理局浦东新区分局颁发的注册号为 310115000967521(浦东)的《企业
法人营业执照》。股权转让及增资后，低温物流的注册资本变更为人民币 83,338,235 元，锦江投资对
低温物流注册资本的出资额为人民币 42,502,500 元，占低温物流注册资本的 51%,三井物产对低温物
流注册资本的出资额为人民币 40,835,735 元，占低温物流注册资本的 49%。
(十) 其他重要事项
1、以公允价值计量的资产和负债
人民币元
本年公允价 计入权益的累计
项目 年初金额 值变动损益 公允价值变动 年末金额
金融资产
可供出售金融资产 160,853,050.30 - 64,091,897.75 103,730,453.50
2、其他
2(1)、分部报告
根据本集团的内部组织结构、管理要求及内部报告制度，本集团的经营业务划分为 4 个报告分部，分别
为车辆营运业务、汽车销售业务、酒店及相关业务以及低温物流业务，报告分部是以经营分部为基础确
定的。集团的管理层定期评价这些报告分部的经营成果，以决定向其分配资源及评价其业绩。
分部报告信息根据各分部向管理层报告时采用的会计政策及计量标准披露，这些计量基础与编制财务报
表时的会计与计量基础保持一致。
第 62 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十) 其他重要事项 - 续
2、其他 - 续
2(1)、分部报告- 续
(1)分部报告信息
人民币元
汽车营运及相关业务 汽车销售及相关业务 酒店及相关业务 低温物流业务 未分配项目 合计
本年 上年 本年 上年 本年 上年 本年 上年 本年 上年 本年 上年
营业收入：
对外交易收入 1,128,721,887.67 1,013,004,385.52 604,174,065.71 487,105,977.86 24,297,104.83 20,783,121.61 84,389,622.12 77,502,735.68 - - 1,841,582,680.33 1,598,396,220.67
分部间交易收入 - - - - - - - - - - - -
分部营业收入合计 1,128,721,887.67 1,013,004,385.52 604,174,065.71 487,105,977.86 24,297,104.83 20,783,121.61 84,389,622.12 77,502,735.68 - - 1,841,582,680.33 1,598,396,220.67
报表营业收入合计 1,841,582,680.33 1,598,396,220.67
营业成本 760,234,114.64 659,574,367.39 557,762,170.22 454,190,145.24 3,834,512.90 3,535,007.96 44,814,993.57 39,075,754.75 - - 1,366,645,791.33 1,156,375,275.34
营业税金及附加 34,758,133.13 33,145,855.12 1,335,890.01 1,113,209.03 1,230,354.31 1,044,666.09 4,706,141.39 4,316,350.31 - - 42,030,518.84 39,620,080.55
销售费用 117,321,151.74 116,223,164.49 12,112,832.45 7,851,550.02 9,229,630.02 8,499,588.57 543,593.57 585,717.27 - - 139,207,207.78 133,160,020.35
管理费用 54,433,612.15 75,799,041.94 19,147,586.03 16,247,802.20 2,354,720.19 1,924,647.84 23,778,026.34 22,793,523.30 15,226,945.53 19,187,056.47 114,940,890.24 135,952,071.75
分部营业成本合计 966,747,011.66 884,742,428.94 590,358,478.71 479,402,706.49 16,649,217.42 15,003,910.46 73,842,754.87 66,771,345.63 15,226,945.53 19,187,056.47 1,662,824,408.19 1,465,107,447.99
分部营业利润(亏损) 161,974,876.01 128,261,956.58 13,815,587.00 7,703,271.37 7,647,887.41 5,779,211.15 10,546,867.25 10,731,390.05 (15,226,945.53) (19,187,056.47) 178,758,272.14 133,288,772.68
调节项目：
财务费用 - - - - - - - - - - (1,938,842.42) (6,935,662.22)
资产减值损失 - - - - - - - - - - 122,723.58 33,363.88
投资收益 - - - - - - - - - - 180,704,235.66 175,708,824.20
营业利润 - - - - - - - - - - 361,278,626.64 315,899,895.22
营业外收入 - - - - - - - - - - 24,672,409.27 32,024,337.44
营业外支出 - - - - - - - - - - 944,297.55 728,033.93
利润总额 - - - - - - - - - - 385,006,738.36 347,196,198.73
所得税 - - - - - - - - - - 45,921,941.00 38,152,652.85
净利润 - - - - - - - - - - 339,084,797.36 309,043,545.88
分部营业利润未承担财务费用、资产减值损失及投资收益。
第 63 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十) 其他重要事项 - 续
2、其他 - 续
2(1)、分部报告 - 续
(1)分部报告信息- 续
人民币元
汽车营运及相关业务 汽车销售及相关业务 酒店及相关业务 低温物流业务 未分配项目 合计
本年 上年 本年 上年 本年 上年 本年 上年 本年 上年 本年 上年
分部资产总额 1,250,366,993.88 1,049,118,053.19 133,692,245.52 109,715,065.97 172,629,003.71 84,374,490.22 290,617,963.98 226,919,730.02 364,432,096.54 355,756,285.68 2,211,738,303.63 1,825,883,625.08
调节项目：
应收股利 - - - - - - - - - - 3,850,263.85 4,040,836.87
长期股权投资 - - - - - - - - - - 759,135,519.02 715,080,149.87
可供出售金融资产 - - - - - - - - - - 103,730,453.50 160,853,050.30
递延所得税资产 - - - - - - - - - - 1,694,343.60 1,741,330.18
报表资产总额 - - - - - - - - - - 3,080,148,883.60 2,707,598,992.30
分部负债总额 392,603,778.83 380,039,299.02 79,108,982.27 59,817,658.46 48,835,714.04 12,043,077.44 43,179,695.66 63,726,090.70 4,170,972.03 4,372,651.33 567,899,142.83 519,998,776.95
调节项目：
短期借款 - - - - - - - - - - 130,000,000.00 -
应付股利 - - - - - - - - - - 20,062,281.35 20,869,833.55
应交税金 - - - - - - - - - - 30,269,690.90 25,639,778.57
递延所得税负债 - - - - - - - - - - 21,363,965.91 36,401,815.26
其他流动负债 - - - - - - - - - - 112,784,683.10 -
报表负债总额 882,379,764.09 602,910,204.33
补充信息：
折旧和摊销费用 214,745,588.49 209,254,820.38 1,398,685.42 1,093,092.42 3,476,650.62 3,613,802.65 6,899,554.19 6,897,545.12 - - 226,520,478.72 220,859,260.57
利息收入 1,713,096.24 4,480,560.84 336,026.68 517,952.23 4,489,397.19 3,726,772.15 385,286.06 351,968.01 196,415.32 296,248.33 7,120,221.49 9,373,501.56
利息费用 3,009,272.62 1,158,276.43 - - - - 154,627.30 - - - 3,163,899.92 1,158,276.43
当期确认的减值损失 - - - - - - 122,723.58 33,363.88 - - 122,723.58 33,363.88
采用权益法核算的长期股 30,848,537.14 31,163,613.02 - - 24,123,819.71 23,031,922.20 - - 96,835,732.41 61,375,364.15 151,808,089.26 115,570,899.37
权投资确认的投资收益
采用权益法核算的长期股 241,540,898.86 234,007,163.84 - - 213,704,199.26 214,348,072.75 - - 217,026,174.66 163,305,429.23 672,271,272.78 611,660,665.82
权投资金额
长期股权投资以外的非流 980,396,849.79 817,534,409.30 8,609,574.92 7,815,604.15 168,768,004.76 224,690,699.66 203,459,309.09 181,798,819.75 4,230,667.23 8,461,333.90 1,365,464,405.79 1,240,300,866.76
动资产
资本性支出 405,202,375.28 368,459,945.73 1,423,445.91 1,536,406.63 136,328.00 182,255.00 32,185,871.10 17,741,715.78 - - 438,948,020.29 387,920,323.14
其中:在建工程支出 37,876,595.56 276,675,658.62 - - - - 30,447,863.56 14,867,233.80 - - 68,324,459.12 291,542,892.42
购置固定资产支出 345,522,634.72 10,274,287.11 1,347,745.91 1,536,406.63 136,328.00 182,255.00 1,738,007.54 2,874,481.98 - - 348,744,716.17 14,867,430.72
购置无形资产支出 21,035,000.00 81,510,000.00 75,700.00 - - - - - - - 21,110,700.00 81,510,000.00
第 64 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十) 其他重要事项 - 续
2、其他 - 续
2(1)、分部报告 - 续
(2)本集团所有对外交易收入均来源于中国，本集团所有资产均在中国。
(3)本集团无占收入总额 10%以上的客户。
2(2)、金融工具及风险管理
本集团的主要金融工具包括货币资金、股权投资、借款、可供出售金融资产、应收账款、应付账款等，
各项金融工具的详细情况说明见附注五。与这些金融工具有关的风险，以及本集团为降低这些风险所采
取的风险管理政策如下所述。本集团管理层对这些风险敞口进行管理和监控以确保将上述风险控制在限
定的范围之内。
I. 风险管理目标和政策
本集团从事风险管理的目标是在风险和收益之间取得适当的平衡，将风险对本集团经营业绩的负面影响
降低到最低水平，使股东及其其他权益投资者的利益最大化。基于该风险管理目标，本集团风险管理的
基本策略是确定和分析本集团所面临的各种风险，建立适当的风险承受底线和进行风险管理，并及时可
靠地对各种风险进行监督，将风险控制在限定的范围之内。
I.1 市场风险
I.1.1. 外汇风险
外汇风险指因汇率变动产生损失的风险。本集团的主要业务活动以人民币计价结算，因此外汇风险对本
集团的经营业绩不会产生重大影响。于 2010 年 12 月 31 日，除下表所述资产的美元余额外，本集团的资
产及负债均为人民币余额，但该外币余额的资产产生的外汇风险对本集团的经营业绩并无重大影响。
人民币元
项目 年末数 年初数
现金及现金等价物 22,884,649.45 -
I.1.2. 利率风险-公允价值变动风险
本集团的因利率变动引起金融工具公允价值变动的风险主要与固定利率银行委托借款相关(详见附注
(五)18)有关。但由于该借款为关联方借款，利率低，因此其产生的利率风险对本集团的经营业绩并无重
大影响。
I.1.3. 其他价格风险
本集团持有的分类为可供出售金融资产的投资在资产负债表日以公允价值计量。因此，本集团承担着证
券市场变动的风险。本集团采取持有多种权益证券组合的方式降低权益证券投资的价格风险。
第 65 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十) 其他重要事项 - 续
2、其他 - 续
2(2)、金融工具及风险管理 - 续
I. 风险管理目标和政策- 续
I.2 信用风险
2010 年 12 月 31 日，可能引起本集团财务损失的最大信用风险敞口主要来自于合同另一方未能履行义务
而导致本集团金融资产产生的损失以及本集团承担的财务担保，具体包括：
合并资产负债表中已确认的金融资产的账面金额；对于以公允价值计量的金融工具而言，账面价值
反映了其风险敞口，但并非最大风险敞口，其最大风险敞口将随着未来公允价值的变化而改变。
为降低信用风险，本集团控制信用额度、进行信用审批，并执行其他监控程序以确保采取必要的措施回
收过期债权。此外，本集团于每个资产负债表日审核每一单项应收款的回收情况，以确保就无法回收的
款项计提充分的坏帐准备。因此，本集团管理层认为本集团所承担的信用风险已经大为降低。
本集团的流动资金存放在信用评级较高的银行，故流动资金的信用风险较低。
本集团采用了必要的政策确保所有销售客户均具有良好的信用记录。本集团无其他重大信用集中风险。
I.3 流动风险
管理流动风险时，本集团保持管理层认为充分的现金及现金等价物并对其进行监控，以满足本集团经营
需要，并降低现金流量波动的影响。本集团管理层对银行借款的使用情况进行监控并确保遵守借款协议。
于资产负债表日，除其他应付款中部分押金、保证金及重组欠款将于 1 年后到期外，本集团其他金融资
产和金融负债的到期日均在一年以内。
II. 公允价值
金融资产和金融负债的公允价值按照下述方法确定：
具有标准条款及条件并存在活跃市场的金融资产及金融负债的公允价值分别参照相应的活跃市场
现行出价及现行要价确定；
其他金融资产及金融负债(不包括衍生工具)的公允价值按照未来现金流量折现法为基础的通用定价
模型确定或采用可观察的现行市场交易价格确认；
本集团管理层认为，财务报表中按摊余成本计量的金融资产及金融负债的账面价值接近该等资产及负债
的公允价值。
第 66 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十) 其他重要事项 - 续
2、其他 - 续
2(2)、金融工具及风险管理 - 续
II. 公允价值 - 续
公允价值计量层级
以公允价值进行后续计量的金融资产及金融负债，其公允价值计量中的三个层级分析如下：
第 1 层级：同类资产或负债在活跃市场上(未经调整)的报价；
第 2 层级：直接(比如取自价格)或间接(比如根据价格推算的)可观察到的、除市场报价以外的有关资产或
负债的输入值估值；
第 3 层级：以可观察到的市场数据以外的变量为基础确定的资产或负债的输入值(不可观察输入值)。
人民币元
期末数
第 1 层级 第 2 层级 第 3 层级 合计
可供出售金融资产
－权益工具 103,730,453.50 - - 103,730,453.50
合计 103,730,453.50 - - 103,730,453.50
人民币元
期初数
第 1 层级 第 2 层级 第 3 层级 合计
可供出售金融资产
－权益工具 160,853,050.30 - - 160,853,050.30
合计 160,853,050.30 - - 160,853,050.30
本集团期末仍持有的以公允价值计量的金融资产本年度计入其他综合收益的损失为人民币 31,894,893.67
元(上年度：利得人民币 63,608,691.74 元)。
III. 敏感性分析
本集团采用敏感性分析技术分析风险变量的合理、可能变化对当期损益或股东权益可能产生的影响。
由于任何风险变量很少孤立的发生变化，而变量之间存在的相关性对某一风险变量的变化的最终影响金
额将产生重大作用，因此下述内容是在假设每一变量的变化是独立的情况下进行的。
利率和汇率可能发生的合理变动对当期损益和权益的影响均不重大。
本集团因持有以公允价值计量的金融资产而面临价格风险。股票市场价格的波动对股东权益的影响如下：
人民币千元
本年度 上年度
项目 年末股价变动 对利润的影响 对股东权益的影响 对利润的影响 对股东权益的影响
可供出售金融资产 上涨 10% - 7,780 - 12,064
可供出售金融资产 下跌 10% - (7,780) - (12,064)
第 67 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释
1、货币资金
人民币元
年末数 年初数
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 85,094.66 1.0000 85,094.66 88,189.05 1.0000 88,189.05
银行存款：
人民币 430,254,717.10 1.0000 430,254,717.10 330,297,821.25 1.0000 330,297,821.25
美元 130.24 6.6227 862.54
合计 -- -- 430,340,674.30 -- -- 330,386,010.30
2、其他应收款
(1)其他应收款按种类披露：
人民币元
年末数 年初数
账面余额 坏账准备 账面余额 坏账准备
比例
金额 金额 比例(%) 金额 比例(%) 金额 比例(%)
种类 (%)
单项金额重大的其他应收款 70,000,000.00 100 - - 90,184,500.00 99 - -
其他不重大其他应收款 680,187.79 - - - 548,786.55 1 - -
合计 70,680,187.79 100 - - 90,733,286.55 100 - -
本公司将金额为人民币 1,000 万元以上的其他应收款确认为单项金额重大的其他应收款。
其他应收款账龄如下：
人民币元
年末数 年初数
比例 比例
账龄 金额 (%) 坏账准备 账面价值 金额 (%) 坏账准备 账面价值
1 年以内 70,680,087.79 100 - 70,680,087.79 50,548,686.55 56 - 50,548,686.55
1至2年 100.00 - - 100.00 - - - -
2至3年 - - - - 18,184,500.00 20 - 18,184,500.00
3 年以上 - - - - 22,000,100.00 24 - 22,000,100.00
合计 70,680,187.79 100 - 70,680,187.79 90,733,286.55 100 - 90,733,286.55
(2)本报告期其他应收款余额中无应收持有公司 5%(含 5%)以上表决权股份的股东单位款项。
(3)其他应收款金额前五名单位情况
人民币元
占其他应收款
单位名称 与本公司关系 金额 年限 总额的比例(%)
上海锦江汽车服务有限公司 关联方 70,000,000.00 1 年以内 43
单位二 第三方 76,650.00 1 年以内 23
上海锦海捷亚物流管理有限公司 关联方 50,000.00 1 年以内 34
单位四 第三方 15,800.00 1 年以内 -
单位五 第三方 1,049.29 1 年以内 -
合计 -- 70,143,499.29 -- 100
(4)应收关联方款项
应收关联方账款情况详见附注(十一)20。
第 68 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
3、其他流动资产
人民币元
项目 期末数 期初数
委托贷款 91,210,000.00 -
其他流动资产系通过中国民生银行提供给低温物流及其子公司的委托贷款，详见附注(十一)19(3)。
4、可供出售金融资产
人民币元
项目 年末公允价值 年初公允价值
可供出售权益工具 86,769,334.96 139,393,876.31
可供出售金融资产系本公司持有的其他上市公司股票，年末公允价值以年末收盘价确认。
第 69 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
5、长期股权投资
(1)长期股权投资明细如下：
人民币元
在被投资单
在被投 位持股比例 本年
资单位 与表决权比 计提
核算方 持股比 在被投资单位表 例不一致的 减值
被投资单位 法 投资成本 年初余额 增减变动 年末余额 例(%) 决权比例(%) 说明 减值准备 准备 本年现金红利
上海大众新亚出租汽车有限公司 权益法 84,628,129.42 100,937,251.82 (2,159,769.64) 98,777,482.18 49.5 50 注1 - - 11,650,016.27
锦海捷亚国际货运有限公司 权益法 40,254,477.70 113,410,820.93 1,515,896.15 114,926,717.08 50 与持股比例一致 - - 13,000,000.00
世联锦江物流有限公司(注 2) 权益法 3,012,675.00 - - - -- -- - - -
上海锦海捷亚物流管理有限公司 成本法 52,000,000.00 52,000,000.00 - 52,000,000.00 65 与持股比例一致 - - 28,024,741.54
上海锦江汽车服务有限公司 成本法 538,135,811.60 538,135,811.60 - 538,135,811.60 95 与持股比例一致 - - 133,155,993.61
上海锦江国际低温物流发展有限公司(注 3) 成本法 71,250,000.00 95,000,000.00 (23,750,000.00) 71,250,000.00 95 与持股比例一致 - - -
上海尚海食品有限公司(注 3) 成本法 23,750,000.00 - 23,750,000.00 23,750,000.00 95 与持股比例一致
上海东锦江大酒店有限公司(注 4) 成本法 16,555,237.81 16,555,237.81 (16,555,237.81) - -- -- - - -
上海寰球纸制品有限公司 成本法 746,253.00 746,253.00 - 746,253.00 10 与持股比例一致 746,253.00 - -
国泰君安证券股份有限公司 成本法 47,649,967.00 47,649,967.00 - 47,649,967.00 <=5% 与持股比例一致 - - 4,764,996.70
国泰君安投资管理股份有限公司 成本法 31,974,279.24 31,974,279.24 - 31,974,279.24 <=5% 与持股比例一致 2,500,000.00 - -
上海国嘉实业股份有限公司 成本法 650,000.00 650,000.00 - 650,000.00 <=5% 与持股比例一致 650,000.00 - -
山东国泰股份有限公司 成本法 555,000.00 555,000.00 - 555,000.00 <=5% 与持股比例一致 555,000.00 - -
合计 -- 911,161,830.77 997,614,621.40 (17,199,111.30) 980,415,510.10 -- -- -- 4,451,253.00 - 190,595,748.12
注 1：根据公司章程，本公司对上海大众新亚出租汽车有限公司的表决权比例为 50%。
注 2：该公司在本年度已完成工商注销。
注 3：上海尚海食品有限公司系低温物流在本年度分立而设立的子公司。分立完成后，本公司对低温物流的投资成本由人民币 9,500 万元变更为人民币 7,125
万元，对新设立的尚海食品投资成本为人民币 2,375 万元。
注 4：本年度本公司将持有的上海东锦江大酒店有限公司 1.87%的股权转让给锦江国际(集团)有限公司，转让价款为人民币 17,583,797 元，产生投资收益人民
币 1,011,279.19 元。
第 70 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
6、投资性房地产
(1)按成本计量的投资性房地产
人民币元
项目 年初余额 本期增加 本期减少 年末余额
一、账面原值合计 24,591,016.05 24,591,016.05
1.房屋及建筑物 24,591,016.05 - - 24,591,016.05
二、累计折旧和累计摊销合计 3,536,825.54 442,356.48 - 3,979,182.02
1.房屋及建筑物 3,536,825.54 442,356.48 - 3,979,182.02
三、投资性房地产账面净值合计 21,054,190.51 - - 20,611,834.03
1.房屋及建筑物 21,054,190.51 - - 20,611,834.03
四、投资性房地产减值准备累计金额合计 - - - -
1.房屋及建筑物 - - - -
五、投资性房地产账面价值合计 21,054,190.51 - - 20,611,834.03
1.房屋及建筑物 21,054,190.51 - - 20,611,834.03
本期折旧和摊销额人民币 442,356.48 元。
第 71 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
7、固定资产
(1)固定资产情况
人民币元
项目 年初余额 本年增加 本年减少 年末余额
一、账面原值合计： 74,678,243.39 270,711.00 (445,658.50) 74,503,295.89
其中：房屋及建筑物 60,235,578.11 - - 60,235,578.11
机器设备 5,314,470.10 8,100.00 (20,379.50) 5,302,190.60
电子设备、器具及家具 5,075,285.97 128,228.00 (425,279.00) 4,778,234.97
其他运输设备 160,223.90 - - 160,223.90
酒店改造 3,892,685.31 134,383.00 - 4,027,068.31
二、累计折旧合计： 28,361,611.49 2,997,549.94 (400,431.15) 30,958,730.28
其中：房屋及建筑物 20,348,634.84 1,580,302.73 - 21,928,937.57
机器设备 2,322,068.67 193,892.82 (17,680.05) 2,498,281.44
电子设备、器具及家具 3,731,679.47 393,243.26 (382,751.10) 3,742,171.63
其他运输设备 132,184.80 12,016.71 - 144,201.51
酒店改造 1,827,043.71 818,094.42 - 2,645,138.13
三、固定资产账面净值合计 46,316,631.90 - - 43,544,565.61
其中：房屋及建筑物 39,886,943.27 - - 38,306,640.54
机器设备 2,992,401.43 - - 2,803,909.16
电子设备、器具及家具 1,343,606.50 - - 1,036,063.34
其他运输设备 28,039.10 - - 16,022.39
酒店改造 2,065,641.60 - - 1,381,930.18
四、减值准备合计 - - - -
其中：房屋及建筑物 - - - -
机器设备 - - - -
电子设备、器具及家具 - - - -
其他运输设备 - - - -
酒店改造 - - - -
五、固定资产账面价值合计 46,316,631.90 - - 43,544,565.61
其中：房屋及建筑物 39,886,943.27 - - 38,306,640.54
机器设备 2,992,401.43 - - 2,803,909.16
电子设备、器具及家具 1,343,606.50 - - 1,036,063.34
其他运输设备 28,039.10 - - 16,022.39
酒店改造 2,065,641.60 - - 1,381,930.18
截至 2010 年 12 月 31 日止，无固定资产所有权受到限制。
第 72 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
7、固定资产 – 续
(1)固定资产情况 – 续
固定资产说明：
(1) 账面原值本年增加中，因购置而增加人民币 270,711.00 元。
(2) 累计折旧本年增加中，本年计提人民币 2,997,549.94 元。
8、递延所得税资产/递延所得税负债
(一)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
(1)已确认的递延所得税资产和递延所得税负债
人民币元
项目 年末数 年初数
递延所得税资产：
资产减值准备 1,113,066.60 1,112,813.25
尚未支付费用 581,277.00 628,516.93
小计 1,694,343.60 1,741,330.18
计入资本公积的可供出售金融资产公允
价值变动 17,383,757.09 31,330,231.78
小计 17,383,757.09 31,330,231.78
(2)截止 2010 年 12 月 31 日，无未确认递延所得税资产。
(3)引起暂时性差异的资产或负债项目对应的暂时性差异
人民币元
项目 暂时性差异金额
年末数：
可抵扣暂时性差异和可抵扣亏损：
资产减值准备 4,452,266.38
尚未支付费用 2,325,107.99
小计 6,777,374.37
应纳税暂时性差异：
计入资本公积的可供出售金融资产公允价值变动 69,535,028.38
小计 69,535,028.38
年初数：
可抵扣暂时性差异和可抵扣亏损：
资产减值准备 4,451,253.00
尚未支付费用 2,514,067.69
小计 6,965,320.69
应纳税暂时性差异：
计入资本公积的可供出售金融资产公允价值变动 125,320,927.19
小计 125,320,927.19
第 73 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
9、其他非流动资产
人民币元
项目 年末数 年初数
预付投资款 15,262,988.76 15,262,988.76
合计 15,262,988.76 15,262,988.76
其他非流动资产的说明：
系预付国泰君安证券股份有限公司的投资款。
10、应付职工薪酬
人民币元
项目 年初余额 本年增加 本年减少 年末余额
一、工资、奖金、津贴和补贴 - 14,706,606.08 (9,766,926.18) 4,939,679.90
二、职工福利费 - 759,205.09 (759,205.09) -
三、社会保险费 - 1,692,991.60 (1,692,991.60) -
其中：医疗保险费 - 549,421.23 (549,421.23) -
基本养老保险费 - 1,006,215.10 (1,006,215.10) -
失业保险费 - 91,568.25 (91,568.25) -
工伤保险费 - 22,893.51 (22,893.51) -
生育保险费 - 22,893.51 (22,893.51) -
四、住房公积金 - 349,923.50 (349,923.50) -
五、辞退福利 - - - -
六、其他 2,723,437.25 166,533.61 (496,997.57) 2,392,973.29
其中：工会经费和职工教育经费 210,183.22 166,533.61 (309,051.25) 67,665.58
内退职工补助 2,513,254.03 - (187,946.32) 2,325,307.71
合计 2,723,437.25 17,675,259.88 (13,066,043.94 ) 7,332,653.19
应付职工薪酬中无属于拖欠性质的金额。
工会经费和职工教育经费年末余额人民币 67,665.58 元。
11、其他应付款
(1)其他应付款明细如下：
人民币元
项目 年末数 年初数
锦江集团下属公司 37,659,274.81 -
其他 2,841,204.37 8,522,309.15
合计 40,500,479.18 8,522,309.15
(2)本报告期其他应付款中无应付持有公司 5%(含 5%)以上表决权股份的股东单位的情况。
(3)本报告期其他应付款中应付关联方账款情况详见附注(十一)20。
第 74 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
12、其他流动负债
人民币元
项目 年末数 年初数
预收股权转让款 79,409,972.78 -
合计 79,409,972.78 -
其他流动负债系本公司转让子公司低温物流部分股权预收的转让款。
13、资本公积
人民币元
项目 年初数 本年增加 本年减少 年末数
2010 年度：
资本溢价 266,218,226.90 - - 266,218,226.90
其中：投资者投入的资本 266,218,226.90 - - 266,218,226.90
其他综合收益(注 1) 93,990,695.40 - (41,839,424.11) 52,151,271.29
其他资本公积 113,847,436.01 - - 113,847,436.01
其中：原制度资本公积转入(注 2) 113,847,436.01 - - 113,847,436.01
合计 474,056,358.31 - (41,839,424.11) 432,216,934.20
2009 年度：
资本溢价 266,218,226.90 - - 266,218,226.90
其中：投资者投入的资本 266,218,226.90 - - 266,218,226.90
其他综合收益(注 1) 44,615,889.90 55,156,261.40 (5,781,455.90) 93,990,695.40
其他资本公积 113,847,436.01 - - 113,847,436.01
其中：原制度资本公积转入(注 2) 113,847,436.01 - - 113,847,436.01
合计 424,681,552.81 55,156,261.40 (5,781,455.90) 474,056,358.31
资本公积说明：
注 1：详见附注(十一)17。
注 2：原制度资本公积转入可用于增资、冲减同一控制下企业合并产生的合并差额等。
14、未分配利润
人民币元
项目 金额 提取或分配比例
2010 年度：
年初未分配利润 341,446,110.42 --
加：本年净利润 203,937,859.86 --
减：提取法定盈余公积 20,393,785.98 注(1)
应付普通股股利 165,483,032.10 注(2)
年末未分配利润 359,507,152.20 注(3)
2009 年度：
年初未分配利润 288,230,406.55 --
加：本年净利润 242,998,595.52 --
减：提取法定盈余公积 24,299,859.55 注(1)
应付普通股股利 165,483,032.10 注(2)
年末未分配利润 341,446,110.42 --
第 75 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
14、未分配利润 – 续
注：
(1) 提取法定盈余公积
根据公司章程规定，法定盈余公积金按净利润之 10%提取。公司法定盈余公积金累计额公司注册资本 50%
以上的，可不再提取。
(2) 本年度股东大会已批准的现金股利
于 2010 年 6 月 18 日经股东大会批准，公司按已发行之股份 551,610,107 股(每股面值人民币 1 元)计算，
以每 10 股向全体股东派发现金红利 3 元(含税)。
(3) 资产负债表日后决议的利润分配情况
根据 2011 年 3 月 29 日董事会提议，按已发行之股份 551,610,107 股(每股面值 1 元)计算，拟以每 10 股
向全体股东派发现金红利 3 元(含税)。上述股利分配方案尚待股东大会批准。
15、营业收入、营业成本
(1)营业收入
人民币元
项目 本年发生额 上年发生额
主营业务收入 24,297,104.83 20,783,121.61
营业成本 3,834,512.90 3,535,007.96
(2)主营业务(分行业)
人民币元
本年发生额 上年发生额
行业名称 营业收入 营业成本 营业收入 营业成本
酒店及相关业务 24,297,104.83 3,834,512.90 20,783,121.61 3,535,007.96
合计 24,297,104.83 3,834,512.90 20,783,121.61 3,535,007.96
16、投资收益
(1)投资收益明细情况
人民币元
项目 本年发生额 上年发生额
成本法核算的长期股权投资收益 165,945,731.85 211,089,406.17
权益法核算的长期股权投资收益 24,123,819.71 23,031,922.20
处置长期股权投资产生的投资收益 1,040,029.98 -
持有可供出售金融资产等期间取得的投资收益 2,065,160.14 1,945,650.00
处置交易性金融资产取得的投资收益 911,487.22 758,121.25
处置可供出售金融资产等取得的投资收益 14,878,957.15 18,867,029.29
合计 208,965,186.05 255,692,128.91
第 76 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
16、投资收益 – 续
(2)按成本法核算的重大长期股权投资收益
人民币元
本年比上年增减
被投资单位 本年发生额 上年发生额 变动的原因
上海锦江汽车服务有限公司 133,155,993.61 134,939,617.48 该公司分配的利润下降
上海锦海捷亚物流管理有限公司 28,024,741.54 61,750,000.00 该公司分配的利润下降
国泰君安证券股份有限公司 4,764,996.70 14,294,990.10 该公司分配的红利下降
合计 165,945,731.85 210,984,607.58 --
(3)按权益法核算的重大长期股权投资收益
人民币元
本年比上年增减
被投资单位 本年发生额 上年发生额 变动的原因
上海大众新亚出租汽车有限公司 9,607,923.56 12,438,303.29 本年业务量小幅下降
锦海捷亚国际货运有限公司 14,515,896.15 10,593,618.91 本年摆脱金融危机影响，
业务量回升
合计 24,123,819.71 23,031,922.20 --
17、其他综合收益
人民币元
项目 本年发生额 上年发生额
1.可供出售金融资产产生的利得(损失)金额 (38,161,026.28) 73,541,681.87
减：可供出售金融资产产生的所得税影响 (9,540,256.57) 18,385,420.47
前期计入其他综合收益当期转入损益的净额 13,218,654.40 5,781,455.90
小计 (41,839,424.11) 49,374,805.50
合计 (41,839,424.11) 49,374,805.50
第 77 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
18、现金流量表补充资料
(1)现金流量表补充资料
人民币元
补充资料 本年金额 上年金额
1．将净利润调节为经营活动现金流量：
净利润 203,937,859.86 242,998,595.52
加：固定资产折旧 2,997,549.94 3,134,702.17
无形资产摊销 36,744.20 36,744.00
投资性房地产摊销及折旧 442,356.48 442,356.48
处置固定资产、无形资产和其他长期资产的损失(收
43,590.61 -
益以“－”号填列)
投资损失(收益以“－”号填列) (208,965,186.05) (255,692,128.91)
递延所得税资产减少(增加以“－”号填列) 46,986.58 49,775.40
存货的减少(增加以“－”号填列) (4,366.33) (5,453.42)
经营性应收项目的减少(增加以“－”号填列) (291,314.13) 666,420.93
经营性应付项目的增加(减少以“－”号填列) 816,799.50 317,760.72
经营活动产生的现金流量净额 (938,979.34) (8,051,227.11)
2．现金及现金等价物净变动情况：
现金的年末余额 430,340,674.30 330,386,010.30
减：现金的年初余额 330,386,010.30 260,262,892.62
现金及现金等价物净增加额 99,954,664.00 70,123,117.68
(2)现金和现金等价物的构成
人民币元
项目 年末数 年初数
一、现金 430,340,674.30 330,386,010.30
其中：库存现金 85,094.66 88,189.05
可随时用于支付的银行存款 430,255,579.64 330,297,821.25
二、年末现金余额 430,340,674.30 330,386,010.30
第 78 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 – 续
19、母公司关联交易情况
(1)购销商品、提供和接受劳务的关联交易
人民币元
本年发生额 上年发生额
关联交易 占同类交易 占同类交易
关联方 类型 关联交易内容 金额 金额的比例(%) 金额 金额的比例(%)
锦江集团及其下属企业 购销商品 采购物品 - - 22,549.00 1
锦江集团下属公司 接受劳务 管理费用 692,529.29 (注 1) 539,015.18 (注 1)
锦江集团 股权转让 东锦江股权转让对价(注 2) 17,583,797.00 - - -
定价原则及决策程序：根据本公司与各关联方签订的有关综合服务协议、产品购销合同等协议的规定定价。重大关联交易需经董事会批准通过。
注 1：应支付给锦江集团及其下属公司的管理费以酒店经营收入的 2%和酒店经营利润的 4%计算加总，作为其提供服务的酬劳，服务包括一般行政、市场推广
及采购等。
注 2：本年度本公司将持有的上海东锦江大酒店有限公司 1.87%的股权转让给锦江国际(集团)有限公司，转让价款为人民币 17,583,797 元，产生投资收益人民
币 1,011,279.19 元。
(2)关联租赁情况
租赁费用 人民币元
出租方名称 承租方名称 租赁资产情况 租赁费用 租赁费用确定依据 租赁费用对公司影响
锦江集团(注) 锦江投资 房屋 116,232.00 租赁合同 不重大
注：本公司租赁锦江集团的房屋到期后不再续签合同，仅支付少量租赁费用，如按原合同价格计算，本年度未计的租赁费用为人民币 1,560,000.00 元。
(3)关联方资金拆借
本年度： 人民币元
关联方 拆借金额 起始日 到期日 本年末余额 说明
拆出
上海吴淞罗吉冷藏有限公司 54,210,000.00 2010 年 7 月 16 日 2011 年 7 月 16 日 54,210,000.00 注
上海锦江国际低温物流发展有限公司 37,000,000.00 2010 年 7 月 16 日 2011 年 7 月 16 日 37,000,000.00 注
注：系对子公司的委托贷款，贷款年利率为 0.36%。
第 79 页
上海锦江国际实业投资股份有限公司
财务报表附注
2010 年 12 月 31 日止年度
(十一) 母公司财务报表主要项目注释 - 续
20、母公司关联方应收应付款项
人民币元
项目名称 关联方 年末金额 年初金额
其他应收款 上海吴淞罗吉冷藏有限公司(注) - 18,184,500.00
其他应收款 上海锦海捷亚物流管理有限公司 50,000.00 343,960.36
其他应收款 上海锦江国际低温物流发展有限公司(注) - 22,000,000.00
其他应收款 上海锦江汽车服务有限公司(注) 70,000,000.00 50,000,000.00
预付账款 锦江集团下属公司 - 23,600.00
其他应付款 锦江集团下属公司 37,659,274.81 431,073.55
上述母公司与关联方应收应付款项中未包括附注(十一)19(3)中通过银行对子公司的委托贷款。
注：系对子公司的无息资金拆借。
(十二) 财务报表之批准
本公司的公司及合并财务报表于 2011 年 3 月 29 日已经本公司董事会批准。
第 80 页
上海锦江国际实业投资股份有限公司
2010 年度
补充资料
补充资料
1、非经常性损益明细表
人民币元
项目 金额 说明
非流动资产处置损益 1,819,093.25 未包含营业外收入中的处置营运车辆收益
计入当期损益的政府补助(与企业业务密切相关，按照国家统一标准定额或定
量享受的政府补助除外) 2,786,854.62 --
计入当期损益的对非金融企业收取的资金占用费 --
除同公司正常经营业务相关的有效套期保值业务外，持有交易性金融资产、交 --
易性金融负债产生的公允价值变动损益，以及处置交易性金融资产、交易性金
融负债和可供出售金融资产取得的投资收益 17,579,725.69
除上述各项之外的其他营业外收入和支出 5,491,112.64 --
所得税影响额 (6,331,603.61) --
少数股东权益影响额(税后) (1,001,498.67) --
合计 20,343,683.92 --
上海锦江国际实业投资股份有限公司
2010 年度
补充资料
补充资料 – 续
2、净资产收益率及每股收益
本净资产收益率和每股收益计算表是上海锦江国际实业投资股份有限公司(以下简称“锦江投资”)按照中国证券
监督管理委员会颁布的《公开发行证券公司信息披露编报规则第 09 号 - 净资产收益率和每股收益的计算及披
露》(2010 年修订)的有关规定而编制的。
每股收益
报告期利润 加权平均净资产收益率(%) 基本每股收益 稀释每股收益
归属于公司普通股股东的净利
14.36 0.515 不适用
润
扣除非经常性损益后归属于公
13.33 0.478 不适用
司普通股股东的净利润
3、公司主要会计报表项目的异常情况及原因的说明
人民币元
报表项目 2010 年度 2009 年度 变动幅度 差异原因
主要是从关联方取得借款以及预收的股权转让款
1 货币资金 757,555,245.06 549,074,409.21 38%
及增资款。
2 预付账款 69,163,662.16 56,922,816.63 22% 本年度增加主要是预付收购营运牌照及车辆款。
本年度减少主要是收回上海锦江公共交通有限公
3 其他应收款 28,163,555.77 53,866,096.09 -48%
司应收款人民币 2900 万元。
4 可供出售金融资产 103,730,453.50 160,853,050.30 -36% 股票价格下降使可供出售金融资产减少。
本年度增加主要是新增了包括世博出租车在内的
5 固定资产 907,874,298.88 746,495,416.64 22%
营运车辆。
6 应付账款 60,870,540.61 51,298,880.63 19% 本年度增加主要是年末应付油款增加所致。
可供出售金融资产公允价值变动使递延所得税负
7 递延所得税负债 21,363,965.91 36,401,815.26 -41%
债减少。
本年度减少主要是公交业务出售后不再取得相应
8 营业外收入 24,672,409.27 32,024,337.44 -23%
的补贴收入。
Shanghai Jin Jiang International Industrial
Investment Co., Ltd.
Stock Code of A Share: 600650
Stock Code of B Share: 900914
Annual Report 2010
Contents
I． Important Notes…………………………………………..…..…………. ……....2
II. Company Profile…………………………………………..…..…………..…….2
III. Financial and Business Highlights……………………..………………………4
IV. Changes in Share Capital and Particulars about Shareholders……….………….6
V. Directors, Supervisors and Senior Executives…………………..….....…….10
VI. Corporate Governance ……….……………………………………..….….14
VII. Brief Introduction to Shareholders’ General Meeting………………………18
VIII. Report of the Board of Directors……………………………………………19
IX. Report of the Supervisory Committee………………………………………32
X. Significant Events……………………………………………………………33
XI. Financial Report……………………………………………………………41
XII. Documents Available for Reference…………………………………………42
1
I. Important Notes
(I) The Board of Directors, the Supervisory Committee as well as directors,
supervisors and senior executives of Shanghai Jin Jiang International Industrial
Investment Co., Ltd. (hereinafter referred to as “the Company”) hereby guarantee that
there are no any omissions, fictitious or serious misleading statements carried in the
report and will take all responsibilities, individual and/or joint, for the authenticity,
accuracy and integrity of the report.
(II) Directors absent from the board session to review the annual report
Name of absent director Position of absent director Reason for absence Name of proxy
Cai Qingfeng Director official Yang Yuanping
Hu Maoyuan Independent Director official Liu Yongzhang
Lu Honggui Independent Director disease Lin Lihua
(III) Deloitte Touche Tohmatsu CPA Ltd issued a standard auditors’ report with
unqualified opinion for the Company.
(IV) Shen Maoxing, the Company principal and chairman of the Board of Directors,
Yang Yuanping, CEO, Yuan Zhening, the principal of the accounting work and CFO,
and Liu Chaohui, the principal of the accounting organ and the Financial Manager,
hereby confirm that the Financial Report enclosed in this Annual Report is authentic
and complete.
(V) Whether there existed non-business capital occupied by the controlling
shareholder and other related parties?
No
(VI)Whether there existed foreign guarantee in violation of the regulations and
decision-making procedure?
No
(VII) This Annual Report was prepared in both Chinese and English. Should there
be any difference in interpretation of the two versions, the Chinese version shall
prevail.
II. Company Profile
(I) Company information
Legal Name of the Company in Chinese 上海锦江国际实业投资股份有限公司
Abbreviation 锦江投资
Shanghai Jin Jiang International Industrial
Legal Name of the Company in English
Investment Co., Ltd.
Abbreviation JJTZ
2
Legal Representative Shen Maoxing
(II) Contact information
Secretary of the Board Securities Affairs Representative
Name Yu Jianmin Huang Yuechong
Contact
28/F, 100 Yan’an Road East, Shanghai 28/F, 100 Yan’an Road East, Shanghai
address
Tel. （021）63218800 （021）63218800
Fax: （021）63213119 （021）63213119
E-mail: dshms@jjtz.com zqdb@jjtz.com
(III) Introduce to the Company
Registered Address 1 Pudong Avenue, Shanghai
Post Code 200120
Office Address 28/F, 100 Yan’an Road East, Shanghai
Post Code 200002
Internet website www.jjtz.com
E-mail dshms@jjtz.com
(IV) Information disclosure and preparation place
Newspaper chosen for information disclosure of
Shanghai Securities News and Ta Kung Pao
the Company
Internet website designated by CSRC for
http://www.sse.com.cn
publishing the annual report
The place where the annual report is prepared and
28/F, 100 Yan’an Road East, Shanghai
placed
(V) Stock of the Company
Stock of the Company
Stock Abbr. of stock
Type Stock exchange listed Abbr. of stock
code before the change
Ａ-share Shanghai Stock exchange Jin Jiang Investment 600650 Xin Jin Jiang
Ｂ-share Shanghai Stock exchange Jin Tou B Gu 900914 Xin Jin B Gu
(VI) Other relevant information
Initial Registration Date 24 Feb. 1993
Initial Registration Place 161 Changle Road, Shanghai
Registration Number of Business License for
310000400037314
Corporation
Tax registration number Local Tax Hu Zi 310115607200690
Organization code 607200690
Name of Certified Public Accounts engaged
Deloitte Touche Tohmatsu CPA Ltd
by the Company
3
Office address of Certified Public Accounts 30/F, the Bund Center, 222 Yan’an Road East,
engaged by the Company Shanghai
Previous changes in registration of the Company
1. On 7 Oct. 1993, the Company’s registered capital was changed to RMB 276,792,200 from the
former RMB 186,792,200 (the registered capital the Company was founded) with new business
license; on 28 Apr. 1994, the Company’s registered capital was changed to RMB 316,580,649 with
new business license; on 7 Jun. 1996, the Company’s registered capital was changed to RMB
348,238,704 with new business license; on 28 May 1997, the Company’s registered capital was
changed to RMB 417,886,444 with new business license; on 9 Apr. 1999, the Company’s registered
capital was changed to RMB 501,463,734 with new business license; on 18 Apr. 2002, the
Company’s registered capital was changed to RMB 551,610,107 with new business license.
2. On 28 May 1998, the Company’s name was changed into Shanghai Jin Jiang Tower Co., Ltd.
from the former Jin Jiang Tower (Company Limited), which was the name the Company was
founded, with new business license; on 11 Nov. 2003, he Company’s name was changed into
Shanghai Jin Jiang International Industrial Investment Co., Ltd. with new business license.
3. On 27 Apr. 2000, the registration address of the Company was changed into “1 Pudong Avenue,
Shanghai” with new business license.
4. On 21 Apr. 2006, the Company’s business scope was changed, including vehicle service, logistics
service [storage, loading and unloading, processing, packaging and dispatching of general freight
and relevant information processing service and consulting service; management of supply chain,
storage, transportation, inventory and purchase order and consulting service; computer software
development and technical service (involving the licensed business operating permits); agency
service of domestic and international freight transportation]; tourist service (reception of non-travel
agency), business services, hotels, property management, lease of office housing, development and
operation of real estates, as well as supplying yard for shopping plaza and etc.. And the Company
got new business license.
Ⅲ. Financial and Business Highlights
(Ⅰ) Main accounting data
Unit: RMB Yuan
Items Amount
Operating profit 361,278,626.64
Total profit 385,006,738.36
Net profit attributable to shareholders of listed company 284,207,585.89
Net profit after non-recurring gains and losses attributable to
263,863,901.97
shareholders of listed company
Net cash flow arising from operating activities 418,738,143.29
(Ⅱ) Items of non-recurring gains and losses and amount
Unit: RMB Yuan
Items Amount
Gain/loss on the disposal of non-current assets 1,819,093.25
Government grants charge to profits or losses, excluded government grants closely related to 2,786,854.62
4
business and applied to all similar businesses according to national unity or quantitative standards
Occupancy expenses collected from non-financial enterprises and recorded into current profits
17,579,725.69
and losses
Gain/loss from change of fair value arising from tradable financial asset and liabilities, and
investment gains from disposal of tradable financial assets and liabilities and available-for-sale 5,491,112.64
financial assets, other than valid hedging business related to the Company’s common businesses
Switching back impairment provision of accounts receivable that are made impairment test
-6,331,603.61
individually
Other non-operation income and expenses other than the above -1,001,498.67
Influenced amount of income tax 20,343,683.92
(Ⅲ) Major accounting data and financial indices over the previous three years as at
period-end
Unit: RMB Yuan
Increase/decrease
Major accounting data 2010 2009 2008
year-on-year (%)
Operating revenue 1,841,582,680.33 1,598,396,220.67 15.21 1,673,685,463.73
Total profit 385,006,738.36 347,196,198.73 10.89 418,887,212.59
Net profit attributable to
shareholders of listed 284,207,585.89 269,430,936.79 5.48 323,105,516.48
company
Net profit after
non-recurring gains and
losses attributable to 263,863,901.97 215,313,169.21 22.55 280,464,106.78
shareholders of listed
company
Net cash flow arising
418,738,143.29 324,351,021.84 29.10 426,680,458.55
from operating activities
Increase/decrease
At the end of 2010 At the end of 2009 At the end of 2008
year-on-year (%)
Total assets 3,080,148,883.60 2,707,598,992.30 13.76 2,662,829,897.87
Owner’ equity (or
2,015,667,920.78 1,943,007,985.34 3.74 1,793,642,647.73
shareholder’s equity)
Increase/decrease
Major financial indices 2010 2009 2008
year-on-year (%)
Basic earnings per share (Yuan/share) 0.515 0.488 5.53 0.586
Diluted earnings per share (Yuan/share)
Basis earnings per share after non-recurring gains
0.478 0.390 22.56 0.508
and losses (Yuan/share)
Weighted average return on net assets (%) 14.36 14.47 0.11 18.04
Weighted average return on net assets after
13.33 11.56 1.77 15.65
non-recurring gains and losses (%)
5
Net cash flow per share arising from operating
0.76 0.59 28.81 0.77
activities (Yuan/share)
At the end At the end Increase/decrease At the end
of 2010 of 2009 year-on-year (%) of 2008
Net assets per share attributable to shareholders of
3.65 3.52 3.69 3.25
listed companies (Yuan/share)
(Ⅳ) Items measured by adopting fair value
Unit: RMB Yuan
Opening Change in the Influenced amount to the
Item Ending balance
balance current period current profit
Available for sale
160,853,050.30 103,730,453.50 -57,122,596.80 2,087,008.70
financial assets
Total 160,853,050.30 103,730,453.50 -57,122,596.80 2,087,008.70
Ⅳ. Changes in Share Capital and Particulars about Shareholders
(Ⅰ) Changes in share capital
1. Statement on changes in share capital
Unit: Share
Before the change Increase/decrease (+, - ) After the change
Issua A
nce m Issuan
Propor Propor
of o Issuance of Proportion ce of
Amount tion tion Amount
new u new shares (%) new
(%) (%)
share n shares
s t
I. Shares subject
to trading 157,425,450 28.54 -157,425,450 -157,425,450 0 0
moratorium
1. State-owned
shares
2. Shares held by
state-owned 157,425,450 28.54 -157,425,450 -157,425,450 0 0
corporation
3. Other shares
held by domestic
investors
Including: shares
held by domestic
non-state-owned
corporation
Shares held by
6
domestic natural
person
4. Shares held by
foreign investors
Including: Share
held by foreign
corporation
Share held by
foreign natural
person
II. Shares not
subject to trading 394,184,657 71.46 157,425,450 157,425,450 551,610,107 100
moratorium
1. RMB ordinary
233,134,625 42.26 157,425,450 157,425,450 390,560,075 70.80
shares
2. Domestically
listed foreign 161,050,032 29.20 161,050,032 29.20
shares
3. Overseas listed
foreign shares
4. Others
III. Total shares 551,610,107 100 0 0 551,610,107 100
Up to 26 Feb. 2010, the Company listed the forth issuance of shares with trading
moratorium totaling 157,425,450 shares. Up until recently, the Company has listed all
of the capital shares of 551,610,107.
2. Changes in shares subject to trading moratorium
Unit: Share
Shares
Shares subject
subject to
to trading
Shares released trading
Name of shareholder moratorium at Reason Time of releasing
in 2009 moratorium
the year
at the year
beginning
end
Share
Jin Jiang International Holdings merger
157,425,450 157,425,450 0 26 Feb. 2010
Co., Ltd reform
(Ⅱ) Issuance and listing of shares
1. Share issuance over the past three years
Over the previous three years as at the end of this reporting period, no securities was
issued or listed by the Company.
2. Changes in total number and structure of shares
In the reporting period, there were no changes in total number and structure of shares
7
caused by bonus shares or allotment of shares.
3. Inner employee shares
There was no employee share as at the end of the reporting period.
(Ⅲ) Introduction about shareholders and actual controller
1. Number of shareholders and shareholding
Unit: Share
Total number of shareholders at the end of the reporting period 69,811（29,306 shares of B-share）
Particulars about shares held by the top ten shareholders
Shares
Percen
tage of subject to Shares
Nature of Total shares Increase/
Name of shareholders shareh trading pledged
shareholders held decrease
olding
moratoriu or frozen
(％)
m
JIN JIANG INTERNATIONAL State-owned
38.54 212,586,460 Naught
HOLDING CO., LTD. corporation
SHANGHAI INTERNATIONAL State-owned
0.72 3,955,121 Unknown
TRUST CO., LTD. corporation
SHANGHAI JINJIANG HOTEL CO., State-owned
0.68 3,761,493 Unknown
LTD. corporation
Domestic
HU JIA YING natural 0.66 3,641,310 Unknown
person
Foreign
CAI QING FENG natural 0.65 3,578,635 -316,300 Unknown
person
HANG SENG CONSUMER SECTOR
Other 0.58 3,196,926 2,609,696 Unknown
FLEXIPOWER FUND
State-owned
Shanghai Fairmont Peace Hotel Co., Ltd 0.33 1,839,974 Unknown
corporation
IFC-HSBC-TEMASEK FULLERTON Other
0.30 1,663,327 899,926 Unknown
ALPHA PTE LTD
Shanghai Jin Jiang Auto Service Co., Other
0.29 1,600,000 Unknown
Ltd. (Labor Union)
PACIFIC DRAGON FUND I LIMITED Other 0.28 1,567,995 563,495 Unknown
Particulars about shares not subject to trading moratorium held by the top ten shareholders
Shares not subject to trading
Name of shareholders Type of share
moratorium held
JIN JIANG INTERNATIONAL HOLDING CO., LTD. 212,586,460 RMB ordinary share
SHANGHAI INTERNATIONAL TRUST CO., LTD. 3,955,121 RMB ordinary share
Shanghai Fairmont Peace Hotel Co., Ltd 3,761,493 RMB ordinary share
Domestically listed
HU JIA YING 3,641,310
foreign shares
8
Domestically listed
CAI QING FENG 3,578,635
foreign shares
Domestically listed
HANG SENG CONSUMER SECTOR FLEXIPOWER FUND 3,196,926
foreign shares
Shanghai Fairmont Peace Hotel Co., Ltd. 1,839,974 RMB ordinary share
IFC-HSBC-TEMASEK FULLERTON ALPHA PTE LTD 1,663,327 RMB ordinary share
Shanghai Jin Jiang Auto Service Co., Ltd. (Labor Union) 1,600,000 RMB ordinary share
Domestically listed
PACIFIC DRAGON FUND I LIMITED 1,567,995
foreign shares
Explanation on associated relationship among the top ten shareholders or acting-in-concert
Among the top ten shareholders of the Company, there exist associated relationship and concerted actions between the 1st
shareholder and the 3rd, the 7th, and the 9th shareholder, namely, Jin Jiang International Holdings Co., Ltd, controlling
shareholder of the Company, is also controlling shareholder of Shanghai Jinjiang Hotel Co., Ltd. and Shanghai Fairmont
Peace Hotel Co., Ltd. Shanghai Jin Jiang Auto Service Co., Ltd. (Labor Union) is affiliate organization of the Company. It is
unknown whether there is associated relationship or action-in-concert among other shareholders.
2. Particulars about controlling shareholders and actual controllers
(1) Controlling shareholders
○ Corporation
Unit: hundred million, Currency: RMB
Name Jin Jiang International Holdings Co., Ltd
Person in charge of the
Yu Minliang
Company/legal representative
June 2003, on the basis of restructuring between Jin Jiang Group Co., Ltd. and Shanghai
Date of foundation
Xinya Group Co., Ltd.
Registered capital 20
Operation and management of state-owned assets, enterprise investment and
management, hotel management, support service for entertainment industry, domestic
Main business or managerial
trade, property management, lease of self-owned office building and flats, title
activities
brokering and relevant consultation (The above items involved in permitted business
operated by license)
(2) Actual controller
State-owned Assets Supervision and Administration
Name of actual controller
Commission of Shanghai Municipal Government
(3) Changes in controlling shareholders and actual controllers
During the report period, the controlling shareholder and actual controller of the
Company remained unchanged.
(4) Block diagram of property right and control relationship between the Company
and actual controller:
9
State-owned Assets Supervision and Administration
Commission of Shanghai Municipal Government
100%
Jin Jiang International Holdings Co., Ltd
38.54%
Shanghai Jin Jiang International Industrial Investment
Co., Ltd
3. Other corporate shareholder holding over 10% of the Company’s shares
By the end of reporting period, the Company has no other corporate shareholder
holding over 10% of the Company’s shares.
Ⅴ. Directors, Supervisors and Senior Executives
(Ⅰ) Change in shares held by directors, supervisors and senior executives and
remuneration
Unit: Share
Whether drew
Total payment
payment and
drawn from
Shares allowance
Shares Reason the Company
Ag held at the from
Name Title Sex held at the for during the
e year-begi shareholders’
year-end change repot period
n entities or
(RMB’ 0000)
other related
(before tax)
entities
Chairman of the
Shen Maoxing Male 60 5,646 5,646 Yes
Board
Vice Chairman of
Yang Yuanping the Board and Male 55 5,646 5,646 50 No
CEO
Vice Chairman of
Yu Jianmin the Board and Female 54 45 No
COO
Chen Wenjun Director Female 55 5,646 5,646 Yes
Ma Mingju Director Male 49 Yes
Zhang Baohua Director Male 59 Yes
10
Reduce
d in
Cai Qingfeng Director Male 43 3,894,935 3,578,635 second No
ary
market
Independent
Liu Yongzhang Male 55 8 No
Supervisor
Independent
Supervisor
Hu Maoyuan Male 59 8 No
(holding office on
22 May 2009)
Independent
Lu Honggui Male 59 8 No
Supervisor
Independent
Lin Lihua Female 61 8 No
Supervisor
Chairman of the
Liu Haihai Supervisory Male 58 35 No
Committee
Pan Jianchang Supervisor Male 51 20 No
Cai Yongjun Supervisor Male 47 21 No
Vice President
Shao
(leaving office on Male 52 Yes
Xiaoming
8 Oct. 2010)
Vice President
Zhang Guomei (holding office on Female 52 10 No
8 Oct. 2010)
Meng
Vice President Male 56 23 Yes
Zhengwei
Yuan Liaojun Vice President Male 52 31 No
CFO and
Yuan Zhening Secretary to the Female 55 27 No
Board
Total / / / 3,911,873 3,595,573 / 294 /
Tenure of the above directors, supervisors and senior executives:
1. The office term of Zhang Guomei is from 8 Oct. 2010 and expired to tenure of the
Board of Directors.
2. Vice president Shao Xiaoming applied for resignation due to work change and
leaving office on 8 Oct. 2010.
3. New office term for other directors, supervisors and senior management began at
22 May 2009 with a term of 3 years.
Main working experience of directors, supervisors and senior executives in the latest
five years:
1. Shen Maoxing served as Vice Secretary of the Party Committee, Vice Chairman of
11
the Board and President in Jin Jiang International Holdings Co., Ltd. He is Chairman
of the Board of the Company.
2. Yang Yuanping is Vice Chairman of the Board, CEO and Secretary of the Party
Committee of the Company.
3. Yu Jianmin, once acted as Assistant to the President, General Manager of Real
Estate Affairs Department, and Secretary of the Party Committee in Jin Jiang
International Holdings Co., Ltd. Currently he is Vice Chairman of the Board and
Chief Operation Officer (or Executive President).
4. Chen Wenjun, who acts as director and Senior Vice President in Jin Jiang
International Holdings Co., Ltd, is also director of the Company.
5. Ma Mingju, once acted as Manager of Planning & Finance Department in Jin Jiang
International Holdings Co., Ltd, currently is Vice President of Jin Jiang International
Holdings Co., Ltd and director of the Company.
6. Zhang Baohua acts as Assistant to the President in Jin Jiang International Holdings
Co., Ltd and is also director of the Company.
7. Cai Qingfeng once was director of Jeffur International Holding Group and
Executive directors and CFO of Jeffur International (Shanghai) Co., Ltd. At present,
he acts as General Manager in Jeffur International (Shanghai) Co., Ltd and director of
the Company.
8. Liu Yongzhang, who acts as Deputy Secretary of the Party Committee in Shanghai
University of Finance and Economics, is the independent director of the Company.
9. Hu Maoyuan, who once acted as President of Shanghai Automotive Industry
Corporation (Group). Now he serves as Chairman of the Board and Secretary of the
Party Committee in Shanghai Automotive Industry Corporation (Group), concurrently
Chairman of the Board and Secretary of the Party Committee of SAIC Motor Co.,
Ltd., as well as Independent Director of the Company.
10. Lu Honggui acts as General Manager and Secretary of the Party Committee in
Shanghai Electric Group Finance Company Ltd., and Independent Director of the
Company.
11. Lin Lihua is Chief lawyer of Shanghai Linlihua Law Firm and Independent
Director of the Company.
12. Liu Haihai is the Deputy Secretary of the Party Committee and Chairman of the
Supervisory Committee of the Company.
13. Pan Jianchang is supervisor and Vice Director of Audit Department of the
Company.
14. Cai Yongjun once acted as Vice Director of Office in the Company and
concurrently Director of Party-mass Work Department in Shanghai Jinjiang Taxi
Service Company. Now he is employee representative supervisor, Assistant to the
President and Manager of HR Department.
15. Shao Xiaoming is Vice President of the Company and concurrently acts as
General Manager in JHJ International Transportation Co., Ltd. He has left office on 8
Oct. 2010.
16. Zhang Guomei, General Manager of Shanghai Food (Group) Co., Ltd., Assistant
to Chairman of JIN JIANG INTERNATIONAL HOLDING CO., LTD., currently acts
12
as Vice President of the Company as well as JHJ International Transportation Co.,
Ltd..
17. Meng Zhengwei, Vice President of the Company, concurrently take a post as
General Manager in Shanghai Jin Jiang International Cold Logistics development Co.,
Ltd.
18. Yuan Liaojun, who once acted as Manager of Investment & Development
Department in Shanghai Jin Jiang International Industrial Investment Co., Ltd, now is
Vice President of the Company.
19. Yuan Zhening is Secretary to the Board and CFO of the Company as well as CFO
of Shanghai Jin Jiang Auto Service Co., Ltd.
(Ⅱ) Titles in Shareholders’ entities
Whether draw payment
Name Name of shareholders’ entities Title
and allowance
Jin Jiang International Holdings Co.,
Shen Maoxing Vice Chairman and President Yes
Ltd
Jin Jiang International Holdings Co.,
Chen Wenjun Director and Senior Vice President Yes
Ltd
Jin Jiang International Holdings Co., Vice President and General Manager
Ma Mingju Yes
Ltd of Financial Affairs Department
Jin Jiang International Holdings Co.,
Zhang Baohua Assistant to the President Yes
Ltd
Positions in other entities
Whether draw payment
Name Name of other entities Title
and allowance
Shanghai Jinjiang International Hotels Development
Vice Chairman No
Shen Co., Ltd
Maoxing Shanghai Jin Jiang International Hotels (Group)
Vice Chairman No
Company Limited
Chen Shanghai Jin Jiang International Hotels (Group)
Executive director No
Wenjun Company Limited
Shanghai Jinjiang International Travel Co., Ltd Director No
Ma Mingju Shanghai Jin Jiang International Hotels (Group)
Supervisor No
Company Limited
Shanghai Jinjiang International Hotels Development
Zhang Vice Chairman No
Co., Ltd
Baohua
Shanghai Jinjiang International Travel Co., Ltd Vice Chairman No
(Ⅲ) Remuneration of directors, supervisors and senior executives
Decision-making procedure of the
Discussed and approved by the Board of Directors and Shareholders’ General
remuneration of directors, supervisors
Meeting
and senior executives
13
Basis on the remuneration of directors,
Confirmed remuneration according to performance of annual operating target
supervisors and senior executives
Particular about actual payment to
Please refer to the above table “Change in shares held by directors, supervisors
directors, supervisors and senior
and senior executives and remuneration”
executives
(Ⅳ) Changes in directors, supervisors and senior executives
Name Office title Change Reason for change
Shao Xiaoming Vice president Leaving post Work change
Engaged by the Board of
Zhang Guomei Vice president Engagement
Direcrtors
About employee of the Company
Total employees on-the-job 13,724
Number of retired staffs whose remuneration need
583
to be borne by the Company
Professional structure
Category Number
Production personnel 12,907
Salespeople 204
Technical personnel 136
Financial staff 155
Administrative personnel 322
Education level
Degree Number
College diploma or above 912
Ⅵ. Corporate Governance
(Ⅰ) Corporate governance of the Company
In the reporting period, the Company constantly perfected its corporate governance in
accordance with the requirements of Company Law, Securities Law, relevant
regulatory documents issued by CSRC and Stock Listing Rules of Shanghai Stock
Exchange, so as to standardize its operation. The Company has established a
relatively completed internal regulatory system that each of the Shareholders’ General
Meeting, the Board of Directors, the Supervisory Committee and Management Team
performed its own functions to check and balance and mutual cooperation. Meanwhile,
scientificalness and expertness of the Board of Directors’ decision-making were
further improved through operation of each special committee of the Board of
Directors and legitimate interest of the Company and stakeholders were earnestly
maintained.
In the reporting period, the Company, combining its actual situations, continued to
promote and deepen the corporate governance work, which the Company reinforced
14
construction for the corporate governance mechanism and enforcement efforts in the
respects of basic systems construction, standardization of daily operation, information
disclosure, relationship of investors etc., intently promote the establishment and
accomplishment of the corporate governance system.
In the reporting period, in accordance with requirements of newly published
regulations and regulatory documents by CSRC, the Company forwarded Rules on
Management of Inside Information Insider and External Information User, so as to put
forward corporate governance system.
The corporate governance is a long-term and systemic process, thus, the Company
shall timely continue to perfect its system construction, so as promote the Company’s
corporate governance.
(Ⅱ) Duty performance of directors
1. Presence of directors at board meetings
Attending
Times
meetings
Independent Times of Times of presence Times of Times
not in
Name director or of due presence by entrusted of
person for
not presence in tele-communication presence absence
twice in a
person
row
Shen
No 9 3 6 0 0 No
Maoxing
Yang No No
9 3 6 0 0
Yuanping
Yu No No
9 3 6 0 0
Jianmin
Chen No No
9 3 6 0 0
Wenjun
Ma No No
9 3 6 0 0
Mingju
Zhang No No
9 3 6 0 0
Baohua
Cai No No
9 1 6 2 0
Qingfeng
Liu
Yes 9 2 6 1 0 No
Yongzhang
Hu No
Yes 9 2 6 1 0
Maoyuan
Lu No
Yes 9 3 6 0 0
Honggui
Lin Lihua Yes 9 3 6 0 0 No
Times of board meetings convened in 2009 9
15
Of which: times of on-site meetings 3
Times of meetings convened by tele-communication 6
2. Dissidence on relevant events put forward by independent directors
During the report period, no independent directors dissented from proposals put
forward at board meetings or those put forward at other meetings in the current year.
3. Establishment, improvement and contents of work rules for independent directors,
as well as duty performance of independent directors
The Company has formulated the Rules for Independent Directors and the Work
Rules for Independent Directors on Annual Reports, specifying the qualifications,
procedure of election, powers and duties for annual report preparation of the
Company’s independent directors.
In the report period, independent directors faithfully and diligently performed their
duties by taking an active part in working for the Audit Committee, the Remuneration
and Appraisal Committee and the Strategy Committee under the Board.
During the report period, independent directors issued their independent opinions for
seven times on such events as senior executive employment, external guarantees,
related party transactions, etc..
In the report period, two meetings on the subject of annual report were convened by
independent directors to listen to the report by the management on the operation of the
Company and the progress of significant events in the current year. They also paid
visits to key subsidiaries; meanwhile, they listened to the annual auditors’ introduction
to the audit plan for the Company’s annual financial report, as well as the preliminary
audit, and communicated with the annual auditors on relevant issues.
(Ⅲ) Independency from controlling shareholder in terms of business, staff, assets,
organization, finance, etc.
Whether independent
Specific explanation
and complete
The business of the Company is absolutely independent and
complete. And related party transactions are fair and reasonable
Business Yes
with no harm done to interests of the Company and its
shareholders.
The Company is independent from its controlling shareholder in
Staff Yes
terms of labor, personnel management, staff salary, etc..
All assets of the Company are independently owned by the
Assets Yes
Company.
The Company has independent decision-making and functional
Organization Yes
organs, which operate independently.
The Company has independent financial and accounting organs, an
Finance Yes independent accounting system and financial management system,
and independent bank accounts.
16
(Ⅳ) Establishment and improvement of internal control rules of the Company
In accordance with relevant laws and regulations such as the Company Law, Securities
Law, Accounting Law, Basic Standards for Enterprise Internal Control and Guidelines for
Internal Control of Listed Companies, the Company has formulated its basic
Overall plan for management rules based on the rules of procedure for the Shareholders’ General
internal control Meeting, the Board of Directors and the Supervisory Committee, with complete and clear
internal control rules covering business, work, department functions, employee duties
and all other links of the Company’s production and operation. And those internal control
rules have been implemented effectively.
When formulating and implementing the internal control rules, the Company focuses on
the following basic elements: goal setting, internal environment, risk identification, risk
evaluation, choice of risk management strategy, control activities, information exchange,
Work plan for
examination and supervision. Internal control rules of the Company cover
internal control rules
decision-making on significant investments, related party transactions, production and
and implementation
operation management, financial management, human resources management,
therefore
information disclosure management and all other links, with the purposes of ensuring
that all work is conducted by rules, operating activities are undertaken based on rules and
internal control goals will be realized.
Organs for
The Audit Office is appointed by the Company as the specific functional department to
examining and
examine and supervise internal control, which operates under the leadership of the Audit
supervising internal
Committee of the Board.
control
The Audit Committee under the Board sets out requirements and gives advices to the
Audit Office in terms of the audit and internal control examinations conducted by the
Self-evaluation of
Office. The Audit Office conducts internal audits on operating activities, incomes and
internal supervision
expenditures, business performance, etc. of the Company and its subsidiaries, examines
and internal control
and evaluates establishment and execution of internal control rules, and then submits the
examination reports to the Audit Committee for review.
The Board of Directors has further formulated/revised and improved internal control
Work of the Board rules, and focused on the implementation of those rules. The Audit Committee under the
of Directors relating Board of Directors listens to and reviews internal control examination and supervision
to internal control reports submitted by the Audit Office and produces a self-evaluation report on the
Company’s internal control based on that.
According to the Enterprise Accounting Standards and other regulations of the
government, the Company has formulated a series of basic rules for financial
Improvement of management, including the Rules for Financial Management, the Implementation
internal control rules Measures for Budget Management, the Rules for Capital Management, the Rules for
relating to Fixed Asset Management, the Financial Management Rules for External Investments, the
accounting Management Rules for Appointing CFO (Financial Manager), and the Regular Session
Mechanism for Appointing CFO (Financial Manager). And those rules have been
effectively implemented in the actual operation.
Defects of internal No material defects have been found in the Company relating to internal control design
control and and execution. The Company will continue to improve the formulation and amendment
rectifications of internal control rules, perfect operation flow and constantly strengthen internal
17
therefore control.
(Ⅴ) Appraisal and incentive for senior executives
The remuneration is decided according to the completion degree of annual business
indexes and management objectives set by the Board of Directors at the beginning of
a year. The Company will further improve its appraisal and incentive mechanism for
senior executives based on its business development, as well as formulating relevant
reward and punishment rules.
(Ⅵ) Whether the Company will disclose a self-evaluation report on internal control
or a report on social responsibilities: No
(Ⅶ) Accountability mechanism for significant mistakes made in annual report
disclosure
According to the Management Rules on Information Disclosure formulated by the
Company, where an information disclosure obligor is the reason for a significant
mistake in the information disclosure or loss of the Company due to professional
misconduct or behaviors violating the said Management Rules, he/she shall be subject
to liability in accordance with the seriousness of the case based on investigations.
Up to the end of the reporting period, no significant mistakes had occurred in the
annual report disclosure.
Ⅶ. Brief Introduction to Shareholders’ General Meeting
(Ⅰ) About Annual Shareholders’ General Meeting
Newspapers for disclosure of
Meeting Convening date Date of disclosure
resolutions made at the meeting
2009 Annual
Shanghai Securities News and Ta Kung
Shareholders’ General 18 Jun. 2010 19 Jun. 2010
Pao (HK)
Meeting
(II) About Special Shareholders’ General Meetings
Newspapers for disclosure of
Meeting Convening date Date of disclosure
resolutions made at the meeting
First Special
Shanghai Securities News and Ta Kung
Shareholders’ General 28 Dec. 2010 29 Dec. 2010
Pao (HK)
Meeting for 2010
18
Ⅷ. Report of the Board of Directors
(Ⅰ) Discussion and analysis by management
1. Business review for the reporting period
(1) General operation
In the reporting period, tightly grabbing favorable opportunities brought by the
Shanghai World Expo and the gradual recovery of the external economy, the
Company managed to overcome difficulties such as a rising operating cost (labor cost,
fuel expense, etc.) and a fierce market competition. Meanwhile, the Company
promoted development of its main businesses on a steady manner. As a result, the
Company achieved a stable business growth, laying a solid foundation for sustainable
and healthy development of the Company in the future.
For the reporting period, the Company achieved operating revenue of RMB1,841
million, up15.21% as compared to 2009; net profits of RMB 284 million, up 5.48%
on a year-on-year basis; and earnings per share of RMB 0.515,, representing a
year-on-year increase of 5.53%.
Details of the passenger transportation business are set out as follows:
With market needs as the development orientation, Shanghai Jin Jiang Auto Service
Co., Ltd. maintained good development in the year. In accordance with its
development plans, the subsidiary tried to create new business growth points while
expanding the number of autos.
1) Tightly seizing opportunities from the Shanghai World Expo and the integration of
state-funded businesses in Shanghai, the subsidiary increased the number of its autos
by increasing over 800 units for the year. As such, the total number of its autos has
exceeded 10,000 units.
2) Transregional operation of the auto leasing business proceeded steadily and
produced favorable results. Upon efforts and quality services, Jin Jiang Auto Leasing
(Dalian) Co., Ltd. was hired by the Dalian branch of Intel for all its outsourced auto
services and developed new business with Goodyear Tire & Rubber on long-term auto
charter, which solidified its leading position in terms of the business scale in the auto
leasing sector in Dalian.
3) The subsidiary adjusted its structure and carried on with the “Jin Jiang Auto
Service Center” project. The first phase of the project construction was completed,
with newly added area reaching 24,000 square meters. Meanwhile, the new Mazda 4S
store was opened for business. Together with other 4S stores (Volkswagen, Toyota,
Nissan, etc.) and the Buick Repair Station, it would give full play to the centralization
advantage in the auto repair business. As such, the weight of the auto after-sale
19
service business continued to increase, which laid a foundation for a rapid
development of the auto repair business.
Details of the modern logistic business are set out as follows:
JHJ International Transportation Co., Ltd. resumed business growth and Shanghai
Pudong International Airport Cargo Terminal Co., Ltd. achieved excellent business
results.
1) Tightly grabbing business opportunities from the Shanghai World Expo and
economic recovery, all regional subsidiaries, branches and the headquarters of JHJ
International Transportation, by making use of the enterprise network and the overall
strengths, further developed the business of transporting bulk, display and hazardous
items, continued to develop the direct-transportation-to-customers, special and
value-added services, optimized the business structure, and tried to create more
competitive edges, so as to enlarge their market share.
2) The five major regional subsidiaries of JHJ International Transportation exerted
themselves to promote the bonded logistic business, which gave rise to common
development of the airport bonded logistic business in Suzhou, Wuhan, Beijing,
Qingdao, Chongqing and Shanghai. Such business in Suzhou, Wuhan, Chongqing and
Beijing is proceeding steadily and that in Qingdao and Shanghai is in preparation. All
these moves will pave the way for the transformation of JHJ International
Transportation.
3) JHJ International Transportation accelerated its efforts in promoting the shipping
agency business along the Yangtze River and the transportation business along the
Longhai Railway. At present, relevant preparations are being made in a proactive
manner. At the same time, considering that the railway in the Yangtze River Delta
originally used for passenger transportation will be used for goods transportation
when the high-speed railway is completed, researches on railway container
transportation are launched with the purpose of spurring the transformation of JHJ
International Transportation.
4) Under favorable circumstances created by the Shanghai World Expo and the
gradual economic recovery, Shanghai Pudong International Airport Cargo Terminal
Co., Ltd. achieved excellent business results. The public cargo terminal in the western
district of the Shanghai Pudong International Airport gave a better business
performance after the commencement of its formal business in 2009 and reached the
investment expectations.
Details of the logistics and warehousing business are set out as follows:
With transforming and upgrading its businesses as the goal, Shanghai Jin Jiang
20
International Cold Logistics Development Co., Ltd. made breakthroughs in its major
projects. In accordance with the government’s relevant policies, the Company joined
hands with strategic investors and forged ahead with the ultra-low temperature
warehousing project so as to create favorable conditions for its transformation from
the traditional refrigerated warehousing business to the modern cold logistic business.
1) It successfully joined hands with a strategic investor. It and Mitsui & Co., Ltd. have
reached agreement on a cold logistic joint venture project and has signed the Contract
for Equity Interests Transfer and Capital Increase, the Contract for Joint Capital, the
Contract for Property Rights Transfer and other relevant contracts. Currently, the
listing procedure with the property exchange, the property rights transfer and the
anti-monopoly application procedure with the Ministry of Commerce of China were
completed. And the foreign-invested enterprise approval certificate has been obtained.
2) The Wusong ultra-low temperature warehousing and logistic project was completed
and put into operation. The project increased the core competitiveness of Shanghai Jin
Jiang International Cold Logistics Development Co., Ltd. and was the first enterprise
in Shanghai to set foot in ultra-low temperature refrigeration. And the project was one
of the projects which the State Development and Reform Commission supported in
2010, for which a support investment of RMB 2.5 million was obtained, as well as
project funds of RMB one million appropriated by the Shanghai Municipal
Commission of Commerce.
3) Preparations were made for developing the cold chain warehousing and distribution
markets in cold logistics. It proactively explored the ways to provide distribution
services for Jin Jiang Star Hotel and other hotels and restaurants. And preliminary
contacts and negotiations were conducted with groups engaged in aquatic products on
cooperation in refrigerated warehousing and distribution.
(2) Main competitive edges and difficulties
Competitive edge one: the brand of “Jin Jiang”
The “Jin Jiang” brand has a good reputation and image both at home and abroad,
which is helpful to the Company in terms of its competitiveness and development in
the passenger transportation sector, the modern logistic sector and the logistics &
warehousing sector.
Competitive edge two: rich accumulation of business resources and experience
Passenger Transport Business: With an operation history over 50 years, Shanghai Jin
Jiang Auto Service Co., Ltd. is a passenger transport company with the richest variety
of vehicles in Shanghai, as well as a leading comprehensive reception capacity in the
industry. In terms of its taxi business, it is one among the top companies in the taxi
21
industry in Shanghai, with a leading operation level; As for its business vehicle
leasing business, the company takes up a substantial share in the Shanghai market,
specializing in providing top-grade business vehicle service and other vehicle leasing
services for large meetings, the world’s top 500 companies and other famous
companies in Shanghai, customers of high-star-grade hotels, etc., as well as state
guest reception and foreign guest reception; In terms of its travel passenger transport
business, the company holds the qualification as the state-best enterprise of road
passenger transport, mainly covering the vehicle services for large meetings,
exhibitions, business trips, travel, long-distance passenger transportation, etc.. The
company received the largest number of inbound tourists in Shanghai every year, with
its large-sized travel bus business in a leading position in China. In terms of its auto
sales and repairing business, the company has a great number of special 4S stores for
Volkswagen, Toyota, Nissan and other companies, top-grade garages and special
vehicle service stations for Buick and other brands. An integrated service system is
thus formed covering vehicle sales, repair, after-sales service, maintenance and
second-hand vehicle dealings.
Modern Logistics Business: JHJ International Transportation Co., Ltd. was founded in
1992, one of the first few companies in China to engage in the international freight
forwarding. With an A-class forwarding qualification and the membership of IATA,
the company maintains its leading position in the domestic forwarding industry, only
second to the few “Sino-” forwarders. And all these contributed to the company’s high
notability.
Logistics & Warehousing Business: Shanghai Jin Jiang International Cold Logistics
Development Co., Ltd. possesses low-temperature warehouses in Wujing, Wusong
and Huangpu, with a combined capacity of 85,000 tons, taking up about 20% of the
total capacity of low-temperature warehousing in Shanghai, and ranking among the
first in China in terms of the company’s low-temperature scale. And Wujing
Refrigeration Co., Ltd. is in possession of one of China’s largest low-temperature
warehouses, as well as over-20-year experience in the industry. And Wusong Luojie
Refrigeration Co., Ltd. owns the only ultra-low temperature warehouse (nearly -60℃)
in Shanghai. Shanghai Pudong International Airport Cargo Terminal Co., Ltd. (one of
the Company’s joint stock companies) runs the two only public cargo terminals in the
airport, which gives the company an obvious advantage of resources.
Difficulty One: Costs of the Company’s passenger transport business may continue to
rise due to the rising labor cost and fuel prices in China.
Difficulty Two: Competition in the logistics and warehousing market becomes fiercer.
Foreign enterprises start to set foot in the sector, large domestic monopolies are
building their own logistic systems and a great number of small enterprises are also
taking part in the competition. As a result, the Company may face challenges in its
logistics and warehousing business.
22
(3) Technical innovations
Please refer to the “Overall operation” under the “Report of Board of Directors” in
this report.
(4) Main businesses and their operation
1) Main businesses classified according to industries and products
Unit: Yuan Currency: RMB
Changes
Changes Changes
of
Operating of of
operating
According to profit operating operating
Operating revenue Operating cost profit
industries margin revenue cost over
margin
(%) over last last year
over last
year (%) (%)
year (%)
Vehicle
1,136,127,679.84 773,983,454.71 31.88 14.70 17.91 1.86
operation
Auto sales 575,920,019.59 541,494,491.18 5.98 18.23 19.22 0.78
Low-temperature
71,251,829.63 35,392,725.55 50.33 11.72 6.33 2.52
logistics
2) Main businesses according to regions
Unit: Yuan Currency: RMB
Region Operating revenue Increase/decrease over last year (%)
Shanghai 1,841,582,680.33 15.21
(5) Significant changes in asset and profit composition over last year, as well as
reasons for the changes
Unit: Yuan Currency: RMB
Items of the Change
31 Dec. 2010 31 Dec. 2009 Reasons for change
balance sheet rate (%)
The Company borrowed RMB 130
Monetary million from Jinjiang Group in the year
757,555,245.06 549,074,409.21 38
funds and thus incurred a cash inflow from
financing activities.
The Company paid in advance for
Prepayments 69,163,662.16 56,922,816.63 22 operating autos acquisitions and
licenses at the end of the year.
The Company recovered in the year the
inter-lending of RMB 29 million to its
Other
28,163,555.77 53,866,096.09 -48 subsidiary Shanghai Jin Jiang Public
receivables
Transport Co., Ltd. before transferring
the subsidiary.
Financial
Stock prices went down and financial
assets available 103,730,453.50 160,853,050.30 -36
assets available for sale thus decreased.
for sale
Fixed assets 907,874,298.88 746,495,416.64 22 The Company increased its operating
23
autos in the year, including taxies for
the Shanghai World Expo.
Accounts Payables for oil by subsidiaries as at the
60,870,540.61 51,298,880.63 19
payable end of the year increased.
Market value of corporate shares which
Deferred income became tradable decrease and the
21,363,965.91 36,401,815.26 -41%
tax liabilities corresponding deferred income tax
liabilities recognized was decreased.
Items of the Rate of
1 Jan.-31 Dec. 1 Jan.-31 Dec.
income movement Reasons for change
2010 2009
statement (%)
The Company disposed Shanghai Jin
Non-business Jiang Public Transport Co., Ltd. in the
24,672,409.27 32,024,337.44 -23
income middle of 2009 and relevant subsidy
income decreased accordingly.
(6) Breakdown of cash flows generated from operating, investing and financing
activities
Unit: Yuan Currency: RMB
YoY
Items 2010 2009 increase/decrease Notes
(%)
The Company recovered in
the year the inter-lending to
Net cash flows its subsidiary Shanghai Jin
from operating 418,738,143.29 324,351,021.84 29.10 Jiang Public Transport Co.,
activities Ltd. before transferring the
subsidiary. And other
payables increased.
Net cash flows
Expenditure on fixed asset
from investing -159,368,755.97 -146,321,377.58
acquisitions increased.
activities
Net cash flows The Company borrowed
from financing -50,784,795.26 -238,560,808.36 RMB 130 million from
activities Jinjiang Group.
(7) Operating results of wholly-owned subsidiaries and joint ventures
Unit: (RMB) Ten Thousand
Main Direct or
Company indirect Registered Operating
business shareholding Total assets Net assets Net profit
name capital revenue
scope ratio (%)
Shanghai Jin Taxi service,
Jiang Auto travel vehicle
Service Co., service, 95% 33,849 165,431.55 88,776.82 173,289.60 17,632.34
Ltd. vehicle repair,
24
long-distance
passenger
transport,
vehicle parts,
vehicle
leasing
Warehousing
& logistics
service and
Shanghai Jin
relevant
Jiang
consultation,
International
inventory
Cold 100% 7,500 24,179.96 9,517.50 7,203.36 667.30
management,
Logistics
freight
Development
brokerage,
Co., Ltd.
business
information
consultation
International
forwarding of
import and
export goods
transported
JHJ by sea or air, 1,000
International international
Transportation exhibits, and 50% (USD Ten 64,012.73 22,939.44 242,752.53 2,857.27
Co., Ltd. personnel thousand)
items, express
service
(excluding
personnel
letters)
Taxi service,
drivers
training, sales
of auto parts,
vehicle
Shanghai
maintenance
Volkswagen
New Asia
(where a 49.5% 3,000 19,221.31 16,131.36 12,054.42 2,049.56
license is
Taxi Co., Ltd.
required, such
a license shall
be obtained
before
operation.)
Handling
inward and
outward
goods and
mails in the
Shanghai cargo
Pudong terminals in
International Shanghai
Airport Cargo Pudong 13% 31,161 120,668.42 108,513.09 86,991.10 48,410.07
Terminal Co., International
Ltd. Airport for
airlines,
freight
forwarders
and
freighters.
25
2. Outlook for future development of the Company
(1). Industry trend and market competition
The Company’s passenger transport business mainly covers taxi, business leasing
vehicle, travel passenger transport, and vehicle sales and repair services. The taxi
business is subject to the total number of the operation licenses issued by the
government. And the Company’s performance in this business sector depends on the
number of taxies and the quality of service. Currently, the Company holds a leading
position in the taxi industry in Shanghai; As for its business leasing vehicle business,
there will be a steadily growing demand for those vehicles, with the development of
Shanghai’s tourism and foreign trade. However, there will be a fiercer competition
from the domestic and foreign enterprises; In terms of the travel passenger transport
business, the Company still enjoys relative advantages despite an intense competition
in the market; In terms of the auto sales and repair business, the market has a great
development potential due to the low degree of concentration in the industry, as well
as the absence of influential leading enterprises. And the Company has started to
cooperate with Buick, Toyota, Nissan, Volkswagen and Mazda in this business sector,
with activeness in new business exploration.
The Company’s modern logistics business mainly covers international freight
forwarding services and relevant services. Driven by China’s enormous economic
aggregate and the integration of the world economy, the logistics industry enjoys good
development prospects. Currently, the competition faced by the Company mainly
comes from the strong international logistics companies’ entry into China, as well as
the increase of small and medium logistics companies at home.
The Company’s logistics and warehousing business mainly includes low-temperature
warehousing and airport cargo terminal service. Along with the development of
China’s economy, the low-temperature warehousing business will enjoy good
development prospects due to an increasing demand. Currently, the Company mainly
faces the challenges brought by the entry of foreign companies, as well as the
internalization trend of distribution in the domestic food retailers; considering
development of the air transport industry of China, the airport cargo terminal business
of the Company enjoys good development prospects.
(2) Opportunities and strategies of development
Opportunities of development: China’s economic development brings opportunities in
the modern service industry, as well as the growing demand in passenger transport,
modern logistics, logistics and warehousing industries. An industrial structure with its
core as the service economy will take shape in Shanghai’s strategic adjustment of its
industrial structure, which will provide space for the further development of the
passenger transport, modern logistics, and logistics and warehousing industries.
Strategies of development: The Company is to tap new sources of growth in its
passenger transport business and explore new operation modes of modern logistics
and logistics and warehousing. At the same time, the Company will promote the
Brand advantage and develop the innovation capacity, investment and financing
26
capacity, so as to make the Company a top modern service enterprise in the Yangtze
River Delta with the passenger transport, modern logistics, and logistics and
warehousing as its core.
(3) Business focus of the Company in 2011
2011 is a year when the Twelfth Five-year Plan starts, as well as a year when
opportunities and challenges coexist. Themed by scientific development and oriented
by the market, the Company will tightly focus on development targets and tasks of the
Twelfth Five-year Plan period, and overcome difficulties such as fierce competitions
in passenger transport market, rising costs of labor and fuel, along with non-embodied
scale effect of cold chain warehousing and distribution. The Company will transform
and upgrade towards modern service industry, accelerate the transition of economic
development pattern, keep steady growth in core businesses, constantly enhance its
core competitiveness, and strive to propel sustainable and healthy development of the
Company.
Passenger Transport Service
To further improve economic operation quality and benefits of Jinjiang Automobile
Service Co., Ltd. To adjust and optimize structure, transform economic growth pattern,
enlarge automobile scale, promote construction of new economic growth point in
maintenance business, expand economic advantage of e-commerce, and insist on
simultaneous development of quantity improvement and efficiency improvement,
while focusing on industrial development strategy during the Twelfth Five-year Plan
period.
1) To further promote project construction of “Jinjiang Automobile Service Center”,
positively seek for intensive sales of brand cars, provide one-stop service of auto-view,
auto-purchase, auto-lease, auto-lesson, and other accessory service for customers,
gradually establish and foster the base at No.100 Wuzhong Road to a modern
auto-sales and auto-maintenance base, as well as a one-stop multifunctional
auto-service park, and carry forward the structural adjustment of passenger transport
service industry.
2) To steadily and orderly impel auto assets acquisition by means of market power. At
the same time, to take example by successful experience from the activity of
“developing together with customers”, rely on resource advantages of major
shareholders, explore the way of business expansion of auto-lease over the Yangtze
River Delta, and upgrade the development of auto scale to a new level.
3) To carry on the establishment of e-commerce platform, apply the impact of
resource integration and linkage effect, constantly perfect and enrich sales service
function of Jinjiang Automobile E-commerce Platform, and strengthen the core
competitiveness of the Company.
27
Modern logistics business
To primarily promote steady economic growth of JHJ International Transportation Co.,
Ltd., continuously perfect internal administration, strengthen the force of product
development, innovate on service mode, and increase economic benefits.
1) As for all regional companies and subsidiaries of JHJ International Transportation
Co., Ltd., together with the logistics section of the headquarter: To further make use
of the network and integral advantage, strengthen the force of joint sales of
direct-customer business and featured business, and at the same time continue to
develop and maintain major clients, expand competitive advantage in the market, and
continuously enhance market shares.
2) As for the major 5 regional companies of JHJ International Transportation Co., Ltd.:
To make a breakthrough in bonded logistics. To further expand bonded logistics
business in Suzhou, Wuhan, Chongqing, Beijing, and etc., accelerate the promotion of
bonded logistics development in Qingdao and Shanghai Pudong Airport, and put
efforts on improving the profitability of bonded logistics business of the major 5
regional companies.
3) As for the “two-line” businesses of JHJ International Transportation Co., Ltd. along
Yangtze River and Longhai Railway: To prioritize shipping agency business along
Yangtze River on the basis of originally existing shipping businesses and develop
products combined with waterway transportation, land transportation, and sea
transportation; to accelerate the establishment of railway transportation along Longhai
railway, strive for product development in railway-to-railway and sea-to-railway
multimodal transport, boost new business growth, and lay the foundation of
transformation and development for the Company.
4) As for Pudong Airport Freight Station and Pudong Airport Western Public Freight
Station: To strive for excellent operating performance of Pudong Airport Freight
Station on the basis of prior businesses, and obtain new operation growth of Pudong
Airport Western Public Freight Station.
Logistics & warehousing business
To stress the upgrade and transformation of low temperature logistics companies,
further analyze the change in consumption demand on the basis of successful
introduction of strategic investors, as well as the Agreement on Low Temperature
Joint Venture Projects signed between Mitsui & Co., Ltd. and the Company, grab
commercial opportunities in consumption upgrade, and form a brand-new industrial
chain of cold chain integration service.
1) To further do a good job of operation of joint venture projects. To enhance the core
competitiveness in the market of cold chain warehousing and distribution by making
use of advanced technology and administration experience of Mitsui & Co., Ltd., as
28
well as trading advantages of Mitsui & Co., Ltd. in Asia Pacific region. To explore
and research the possibility of the establishment of “Outside-region Public Low
Temperature Bonded Warehouse” by “China-Japan Fast Speed Shipping Distribution”,
and try hard to expand the distribution scale and profitability of cold chain
warehousing and distribution.
2) To purchase equity of relevant low temperature logistics companies in line with
industrial development requirements of low temperature companies, create conditions
for the Company to acquire the ability of urban distribution to customers, enlarge cold
chain warehousing and the integration of distribution functions, and extend the
industrial chain.
3) To promote joint development of cold chain logistics service and social demand. To
actively link up cold chain logistics service demands of related production, commerce
and trading, and service enterprises, such as Jinjiang Inn Co., Ltd., Fisheries General
Corp., and www.taobao.com, in the progress of consumption upgrade, continue to do
well in relevant preliminary work for developing the cold chain logistics distribution
service market. Meanwhile, to positively seek for new ways such as win-win
cooperation for development, further strengthen communication and coordination
with Fisheries General Corp., and explore and research ways and modes to implement
the project of cold storage and distribution of deep-sea products.
(4) Capital need, use and sources
In 2011, the cash outflows of investment of the Company will mainly concentrate on
the investment in the vehicle renewal and the development of the Company’s main
businesses, which will approximate RMB 500 million. And the capital will mainly
come from the Company’s self-owned capital and bank loans.
5. Analysis of business risks
Risk factors Reasons Countermeasures
Along with the constant increase of labor costs and fuel prices in China,
Macro policy cost expenses in passenger transport service of the Company will be
under sustainable upward pressure.
As competitions in logistics and storage market are more and fiercer, For details, please
refer to “Business
overseas enterprises entered into the market, big Chinese monopolies plan for 2011”.
Market
build logistics systems by themselves, and plenty of small enterprises
operation
joined in the industry, businesses of the Company in logistics and
storage will face challenges.
6. Whether the Company has disclosed the profit forecast or the business plan: No
7. Whether the Company will prepare and disclose a profit forecast for the coming
year: No
(II) Investment of the Company
29
1. Use of raised proceeds
The Company had not raised any proceeds in the reporting period, nor was there any
proceed raised in previous periods and still used in the reporting period.
2. Important investment projects with non-raised proceeds in the reporting period
The Company had no important investment projects with non-raised proceeds in the
reporting period.
(III) Reasons for and influences by changes in accounting policies and accounting
estimation, correction of significant accounting errors, supplementary of omitted
information and correction of performance forecast, accountability measures on
related person in charge and settlement result
In the reporting period, there were neither o changes in the accounting policies,
accounting estimations, or significant accounting errors, nor supplementary of omitted
information or correction of performance forecast.
(IV) Routine Work of the Board of Directors
1. Sessions and resolutions in the reporting period
Newspaper to Date of
Convening
Session Content of Resolutions publish the information
date
information disclosure
The Proposal on Transferring Equity
of Shanghai Jinjiang International
The 5th Session of
12 Feb. Cold Logistics development Co., Ltd.
the 6th Board of
2010 and Introducing Incremental
Directors
Investment by Strategic Partners was
reviewed and approved.
th
The 6 Session of The Proposal on Dissolving Shilian
th
24 Feb.
the 6 Board of Jinjiang Logistics Co., Ltd. was
2010
Directors reviewed and approved.
th
The 7 Session of Shanghai Securities
th
Please refer to public notice of the
the 6 Board of 7 Apr. 2010 News and Hong 9 Apr. 2010
Company.
Directors Kong Ta Kung Pao
th
The 8 Session of
28 Apr. The 1st Quarterly Report 2010 was
the 6th Board of
2010 reviewed and approved.
Directors
The 9th Session of Shanghai Securities
th
27 May Please refer to public notice of the
the 6 Board of News and Hong 28 May 2010
2010 Company.
Directors Kong Ta Kung Pao
th
The 10 Session The Semi-annual Report 2010 and its
th
27 Aug.
of the 6 Board of Summary was reviewed and
2010
Directors approved.
th
The 11 Session Please refer to public notice of the Shanghai Securities
th
8 Oct. 2010 11 Oct. 2010
of the 6 Board of Company. News and Hong
30
Directors Kong Ta Kung Pao
rd
The 3 Quarterly Report 2010 and
Proposal on Approving Shanghai
The 12th Session
25 Oct. Jinjiang Automobile Service Co., Ltd.
of the 6th Board of
2010 to Apply Borrowings from Jinjiang
Directors
International (Group) Co., Ltd. were
reviewed and approved.
th
The 13 Session Shanghai Securities
th
Please refer to public notice of the
of the 6 Board of 7 Dec. 2010 News and Hong 8 Dec. 2010
Company.
Directors Kong Ta Kung Pao
2. Implementation of the Resolutions Made at the Shareholders’ General Meeting by
the Board
In the reporting period, the Board of Directors of the Company strictly executed all
resolutions made by the Shareholders’ General Meeting, seriously performed its duty,
and timely completed all tasks approved by resolutions of the Shareholders’ General
Meeting.
3. Establishment and perfection, main content of relevant working system of the Audit
Committee under the Board and Summery Report on Performance of the Audit
Committee
The Company formulated Rules on Implementation of the Audit Committee of the
Board and Working Procedures on Annual Report for the Audit Committee, which
concretely regulated member composing, duty purview, decision-making procedures,
working rules, regulations on annual report and so on.
Based on the power authorized by the Company Law, the Articles of Association and
Work Rules for the Audit Committee under the Board, the Audit Committee
stringently followed the requirements of China Securities Regulatory Commission, to
conduct necessary supervision over internal control, Operation of the Company 2010,
as well as preparation of Semi-annual Report 2010, Annual Report 2010 and
Financial Statement.
During the preparation of Semi-annual Report 2010 and Annual Report 2010, the
audit committee under the Board convened 3 sessions, on which the committee
debriefed Report on Production and Operation as well as Significant Events in 2010
given by the management team of the Company, Financial Status and Operation
Achievement of the Company given by chief financial officer, and Audit Plan for
Annual Financial Report of the Company and Introduction to Preliminary Audit given
by annual audit CPAs of the Company. Meanwhile, the committee took field
inspections to affiliated core enterprises of the Company, and reviewed and approved
relevant proposals and reports.
4. Summery Report on the Duty Performance of the Remuneration Committee of the
Board
The Remuneration & Appraisal Committee of the Board stringently performed its
31
duties and rights authorized by the Company Law, the Articles of Association, as well
as Work Rules for the Remuneration & Appraisal Committee of the Board, and
seriously safeguarded the interest of all shareholders.
During the preparation of Annual Report 2010, remuneration committee under the
Board convened sessions, on which relevant proposals such as Proposal on
Remuneration for Senior Executives of the Company were approved.
5. Establishment and improvement of Management System for External Information
Users of the Company
The Company established Management Method for Insiders Knowing Insider
Information and External Information Users, so as to strengthen management for
information delivered to external entities.
6. Execution of Management System for Insiders Knowing Insider Information
According to self-inspection of the Company, did any insider knowing insider
information trade stocks of the Company by taking advantage of insider information
before the disclosure of important and sensitive information influencing stock price of
the Company? No.
(V) Profit Distribution Preplan or Preplan on Turning Capital Reserve into Share
Capital
The Profit Distribution Preplan is as follows: Based on the total share capital of
551,610,107 shares as of 31 Dec. 2010, the Company will distribute a cash dividend
of RMB3.0 (tax included) for every 10 shares and the dividends for B Share will be
distributed in US dollars. The cash dividend for distribution aggregates RMB
165,483,032.10.The preplan will be submitted to Shareholders’ General Meeting for
approval.
(VI) Dividends of the Company in the last three years
Unit: RMB Yuan
Net profit attributable to owners Proportion in Net profit attributable
Amount of cash dividends
Year of listed company in consolidated to owners of listed company in
(tax included)
statement of the year consolidated statement (%)
2007 220,644,042.80 312,593,159.85 71
2008 165,483,032.10 323,105,516.48 51
2009 165,483,032.10 269,430,936.79 61
IX. Report of the Supervisory Committee
32
(I) The work of the Supervisory Committee
Times of sessions convened 4
Session of the Supervisory Committee Content
th th
The 4 Session of the 6 Supervisory Committee was Work report of the Supervisory Committee for
convened on 7 Apr. 2010 2009, Annual Report 2009 and its Summary
The 5th Session of the 6th Supervisory Committee was
The 1st Quarterly Report 2010
convened on 28 Apr. 2010
The 6th Session of the 6th Supervisory Committee was
Semi-annual Report 2010 and its summary
convened on 27 Aug. 2010
The 7th Session of the 6th Supervisory Committee was
The 3rd Quarterly Report 2010
convened on 25 Oct. 2010
(II) Independent opinion of the supervisory committee on the Company’s operation by
law
The Board of Directors of the Company normatively operated according to the Laws,
and the business decision-making procedure was legitimate. The Company had
established a sound corporate governance structure and a sound internal control
system. The Committee had found no breach of the laws, regulations and the Articles
of Association during the performance of duties by Directors and Senior Executives of
the Company, nor any behaviors damaging the interest of the Company or
shareholders.
(III) Independent opinion of the supervisory committee on the financial status of the
Company
The financial system of the Company was sound, the operation of the Company’s
finance was steady and the accounting method chosen was appropriate. The Deloitte
Touche Tohmatsu Certified Public Accountants had issued auditor’s report 2010 with
the standard unqualified opinion which had authentically reflected the financial status
and business achievements of the Company.
(IV) Independent opinion of the supervisory committee on purchase and sale of assets
The Company strictly followed the principle of fairness in the purchase and sale of
assets. The transaction price was determined through mutual consultation based on the
appraisal report given by independent appraisal institutions. The transaction procedure
was legal and no behavior damaging the interest of the Company or shareholders was
found by the Committee.
(V) Independent opinion of the supervisory committee on related transactions
In the related transaction with related parties, the Company had stuck to the principle
of fairness, justice, and openness. The transaction price was determined through
mutual consultation based on the appraisal report given by independent appraisal
institutions and the transaction procedure was conducted according to normative
procedures as well as requirements of relevant laws and regulations. No behavior
damaging the interest of the Company or shareholders or behavior leading to loss of
33
assets was found by the Committee.
X. Significant events
(I) Significant lawsuits and arbitrations
There were no significant lawsuits and arbitrations of the Company this year.
(II) Relevant issues of bankruptcy and reorganization
There were no relevant issues of bankruptcy and reorganization in the Company this
year.
(III) Analysis and explanation on other significant events and their influence
1. Particulars about equity of other listed companies held by the Company
Unit: RMB
Proportion
Profits or Changes of
Initial in equity
Stock Short form Book value at losses in the owners’ equity in
investment of the
code of stock period-end reporting the reporting
amount Company
period period
(%)
601328 JTYH 14,142,941.50 <1 56,357,837.96 1,922,712.70 -24,970,673.28
600655 YYSC 1,861,827.95 <1 26,183,276.40 87,320.56 -4,009,622.31
Shanghai
Electric
601727 Power 497,340.08 <1 10,125,120.00 - -969,826.50
Generation
Group
Bailian
600631 Group 722,460.04 <1 5,950,733.00 46,825.44 -6,034,576.73
Co., Ltd
600643 AJGF 754,686.92 <1 3,808,000.00 - -8,324,343.10
600642 SNGF 205,333.33 <1 839,300.00 30,000.00 -594,775.00
600082 HTFZ 90,000.00 <1 466,186.14 - -158,687.66
合计 18,274,589.82 103,730,453.50 2,086,858.70 -45,062,504.58
The equities mentioned above all belong to the entry of accounting: financial assets
available for sale
The equities mentioned above all come from: subscription of corporation shares
2. Particulars about equity of non-listed financial enterprises held by the Company
Proportion Changes
Initial Book Profits or
Amount of in equity of
Name of investment value at losses in the Accounting Source of
shares held of the owners’
entity amount period-end report period subject share
(share) Company equity
(RMB) (RMB) (RMB)
(%) in the
34
report
period
(RMB)
Guotai
Long-term
Junan
47,649,967 47,649,967 1.014 47,649,967 4,764,996.70 0 equity Subscription
Securities
investment
Co., Ltd
Subtotal 47,649,967 47,649,967 / 47,649,967 4,764,996.70 0 / /
On Apr. 6, 2007, the Board approved the resolution of increasing investment in Guotai
Junan Securities Co., Ltd, which decided to subscribe another 14,130,000 shares of
Guotai Junan Securities Co., Ltd. For details please refer to Public Notice on the
Resolution of the 5th Session of the 5th Board of Directors on Shanghai Securities
News as of 11 Apr. 2007. Currently, the Company has paid for the subscription and is
waiting for the right confirmation after Guotai Junan Securities Co., Ltd’s plan of
increasing capital and enlarging share was approved by CSRC. After right
confirmation, the shares of Guotai Junan Securities Co., Ltd held by the Company
will aggregate 61,780,000 shares.
3. Purchasing and selling shares of other listed companies
Quantity at Quantity of buying / Quantity at Investment
Company Amount of
Purchase/sale period-begin selling shares period-end income from the
name capital used
(shares) (shares) (shares) transaction
Bailian
Sale Group Co., 821,000 430,788 390,212 Inapplicable 6,081,036.48
Ltd
Sale AJGF 1,461,533 1,061,533 400,000 Inapplicable 8,526,629.27
Sale SNGF 150,000 40,000 110,000 Inapplicable 271,291.40
Sale YYSC 1,158,507 85,000 1,946,712 Inapplicable 1,789,281.32
Investment income from sales of subscribed shares amounted to RMB 911,487.22.
(IV) Purchase and sale of assets, as well as assimilation and merger of the Company
in the reporting period
In this year, the Company had no significant purchase and sale of assets, as well as
assimilation and merger of the Company in the reporting period.
(V) Significant affiliated transactions in the reporting period
1. Related transactions related with routine operation
Unit: RMB’0000
Type of Proportion in the
Related party Relationship related Content Amount similar
transactions transactions (%)
Jin Jiang International Group Controlling Providing Income from
155 <1
Co., Ltd. shareholder labor service passenger transport
Shanghai Jin Jiang International Holding Providing Income from 1,127 1
35
Travel Co., Ltd. subsidiary of labor service passenger transport
controlling
shareholder
Subsidiary of Income from cold
Subsidiary of Jin Jiang Sales of
controlling logistics service 23 <1
International Group Co., Ltd. goods
shareholder
Subsidiary of
Subsidiary of Jin Jiang Purchase of
controlling Purchase of goods 21 <1
International Group Co., Ltd. goods
shareholder
Subsidiary of
Receiving Management
Jin Jiang Star Hotel Co., Ltd. controlling 69 100
labor service expense
shareholder
Jin Jiang International Group Controlling Receiving use
Interest expense 75 24
Co., Ltd. shareholder right of assets
Jin Jiang International Group Controlling Land use right and
Other outflow 312 <5
Co., Ltd. shareholder house lease
Total - - - 1,782 -
The pricing principle of the above related transactions: Market price.
The method of payment of the above related transactions: Monetary capital
The related transactions mentioned above are necessary routine business transactions
of the Company, which are beneficial for the Company to reduce production and
operation costs, as well as selling expenses.
Affiliated transactions of this kind take a small proportion in similar transactions or
total transactions, therefore, they have little influence on the financial status and
business achievements of the Company in the reporting period or in the future, and
they will not influence the independence of the Company.
2. Related transactions concerning purchase and sales of assets
Unit: RMB’0000 Yuan
Income
Book Appraisal
from
Related Relationshi Pricing value of value of Transferre Settlemen
Type Content assets
party p principle transferre transferre d price t way
transfe
d assets d assets
r
1.87% of
the total
equity of
Jin Jiang Pricing
Equity Shangha
Internationa Controlling based to Monetary
transfe i 1,657 1,758 1,758 101
l Group Co., shareholder appraisa capital
r Oriental
Ltd. l value
Jinjiang
Hotel
Co., Ltd
36
3. Particulars about creditors’ right and debts with the related parties
Unit: RMB’0000 Yuan
Provide fund to related parties Gain fund from related parties
Related party Relationship Amount
Balance Amount occurred Balance
occurred
Jin Jiang
Controlling
International 20,000 13,000
shareholder
Group Co., Ltd.
Shanghai Jin Jiang Auto Service Co., Ltd. gained the borrowings from Jin Jiang
Reason of the creditors’ right and
International Group Co., Ltd. (entrust Jin Jiang International Group finance Co., Ltd.
debts
to gain the credit) to expand the passengers transport service.
(VI). Significant contracts and execution
1. Entrustment, contract and lease whose profit was above 10% of total profit in
current year
(1) Entrustment
There was no entrustment in the Company in this year.
(2) Contract
There was no contract in the Company in this year.
(3) Lease
There was no lease in the Company in this year.
2. Particulars about guarantees
Unit: RMB’0000 Yuan
External guarantee of the Company (excluding guarantees for subsidiaries)
Relations
hip Whether Whethe
Beginni Expirin Whether
between Amou Type guarantee r
ng date g date provide
Assurance assurance nt of of has been counter
Secured party of of guarantee
Provider provider guaran guara fully guarant
guarant guarant for affiliated
and the tee ntee accomplish ee
ee ee parties
listed ed exists
company
Shanghai
Holding Shanghai
Jin Jiang
subsidiary Yongda Fengdu 12 Apr. 12 Apr. Com
Auto 360 No No No
of the Vehicle Selling 2010 2012 mon
Service Co.,
Company Co., Ltd.
Ltd.
Shanghai
Holding Shanghai
Jin Jiang
subsidiary Yongda Fengdu 5 Feb. 6 Feb. Com
Auto 400 No No No
of the Vehicle Selling 2010 2013 mon
Service Co.,
Company Co., Ltd.
Ltd.
Shanghai Holding Shanghai 800 8 Jan. 7 Jan. Com No No No
37
Jin Jiang subsidiary Yongda Fengdu 2010 2011 mon
Auto of the Vehicle Selling
Service Co., Company Co., Ltd.
Ltd.
Shanghai
Shanghai South
Jin Jiang Subsidiar
Station
Business y of the
Long-distance 20 Dec. 19 Dec. Com
and Travel Company 1,250 No No No
Passenger 2010 2011 mon
Auto ’s holding
Transport Co.,
Service Co., subsidiary
Ltd.
Ltd.
Total amount of guarantee in the reporting period (excluding guarantees for
3,002
subsidiaries)
Total balance of guarantee at the period-end (A) (excluding guarantees for
2,432
subsidiaries)
Guarantees for holding subsidiaries provided by the Company
Total amount of guarantee for subsidiaries in the reporting period 1,580
Total balance of guarantee for subsidiaries at the period-end (B) 750
Total amount of guarantee (including guarantees for subsidiaries)
Total amount of guarantee (A+B) 3,182
Proportion of total amount of guarantee in net assets of the Company (%) 1.58
Of which:
Amount of guarantee for shareholders, actual controllers and its related parties
(C)
Amount of direct and indirect guarantee for secured parties with assets liability
750
ratio higher than 70% (D)
Amount of total guarantee beyond 50% of net assets (E)
Total of the three kinds of guarantees mentioned above (C+D+E) 750
3. Particulars about Trust Financing
The Company had no trust financing in this year.
4. Other Significant Contracts
The Company had no other significant contract in this year.
(VII) Fulfillment of commitment
1. The commitments made by the Company and shareholders with more than 5%
shares
Commitment Content Fulfillment
Share merger 1. Within the following 12 months after it acquires the right to list at A share 1. The Commitment
reform of market for 12 months, the non-tradable shares held by it will not get listed at about restricted stock
JinJiang Shanghai Securities Stock Exchange. trade period has been
International 2. After expiration of time limit in the previous commitment, the shares sold at fulfilled on 26 Feb.
Holdings Co., Shanghai Securities Stock Exchange shall account for no more than 5% within 12 2010.
38
Ltd months of the total shares and no more than 10% within 24 months. As for the 2. The Commitment
shares becoming tradable through listed at Shanghai Securities Stock Exchange, about profit
whose amount reaches 1% of the total shares, the Company shall make a public distribution has been
notice within two workdays since the occurrence of the sale. fulfilled in 2005, 2006
3. After the implementation of share merger reform, the Company will propose and 2007 annual profit
and vote for a cash distribution not lower than 50% of the profit available for distribution.
distribution in the same year at the 2005, 2006 and 2007 Shareholders’ General 3. Now all the
Meeting of Shanghai Jinjiang International Industrial Investment Co., Ltd. commitment has been
fulfilled.
(VIII) Particulars about engagement and disengagement of accounting firms by the
Company
Unit: RMB’0000 Yuan
Whether to change the Certified Public Accountants No
Current engagement
Name of the domestic Certified Public Accountants Deloitte Touche Tohmatsu Certified Public Accountants
Payment of the domestic Certified Public Accountants 178
Years that the domestic Certified Public Accountants has
18
conducted auditing for the Company
(IX) Punishment on the Company, its directors, supervisors, senior executives,
shareholders and actual controllers, as well as particulars about rectification
In this year, the Company, its Directors, Supervisors, Senior Executives, shareholders
and actual controllers did not received any inspection, administrative penalties,
circulating notice of criticism from CSRC, as well as public condemnation from Stock
Exchange.
(X) Whether the Company has been listed as the announced enterprise with serious
pollution by the Environmental Administration: No
(XI) Explanation on other significant events
1. Shanghai Jin Jiang International Hotels (Group) Company Limited acquired the
shares of the Company as 212,586,460 shares held by Jin Jiang International Group
Co., Ltd..
On 13 Aug. 2010, Jin Jiang International Group Co., Ltd. (hereinafter refers as “Jin
Jiang International”) signed the Equity Transfer Agreement with Shanghai Jin Jiang
International Hotels (Group) Company Limited (hereinafter refers as “Jin Jiang
Hotels”), Jin Jiang Hotels acquired the 212,586,460 shares of the Company from Jin
Jiang International by private issuing domestic shares and payment of cash
consideration to Jin Jiang International.
On 14 Feb. 2011, the above equity transfer has finished the registration of transfer,
after which Jin Jiang Hotels has become the controlling shareholders, and Jin Jiang
International no longer held any shares of the Company.
The Company has gained the Approval Certificate for Foreign Investment Company
39
in line with relevant rules and laws, and also finished the registration of change in
Industrial and Commerce. (For details, please refer to the public notice on Shanghai
Securities News, Hong Kong Ta Kung Pao and the website of Shanghai Securities
Stock Exchange http://www.sse.com.cn on 2 Aug. 2010, 9 Aug. 2010, 14 Aug. 2010,
10 Sep. 2010, 12 Oct. 2010, 16 Nov. 2010, 29 Jan. 2011 and 17 Feb. 2011)
2. Introduction of Strategic Partner to Acquire and Increase Capital of Shanghai Jin
Jiang International Cold Logistics Development Co., Ltd
On 25 May 2010, the Company published the Public Notice on Progress of
Introduction of Strategic Partner to Acquire and Increase Capital of Shanghai Jin
Jiang International Cold Logistics Development Co., Ltd.. The wholly-owned
subsidiary company of Mitsui & Co., Ltd--Mitsui & Co.(Asia Pacific) Pte. Ltd.
acquired 38.33% equity of Shanghai Jin Jiang International Cold Logistics
development Co., Ltd. held by the Company and 5% equity held by Shanghai Jin
Jiang Auto Service Co., Ltd. with consideration of RMB 79,374,778.50 and RMB
10,354,132.50 respectively, as well as the right of increasing capital investment to Jin
Jiang International Cold Logistics development Co., Ltd. with RMB 23,022,718 (of
which, RMB 8,338,235 was used to increase the registered capital and the remains
was included into the capital reserve of Jin Jiang International Cold Logistics
development Co., Ltd.)
In Jan. 2011, the equity transfer and capital increase transaction has passed the
investigation by Ministry of Commerce of the People’s Republic of China
Anti-monopoly Bureau, the total fund from this equity transfer and capital increase
transaction has been input to the above companies, meanwhile Jin Jiang International
Cold Logistics development Co., Ltd. has finished the change of registration in
Industrial and Commerce.
After the above equity transfer and capital increase, the registered capital of Jin Jiang
International Cold Logistics development Co., Ltd. has been adjusted to RMB
83,338,235. The equity structure has been adjusted as : The Company held 51% of the
total shares, while Mitsui & Co.(Asia Pacific)Pte. Ltd. held the other 49%. (For
details, please refer to the public notice on Shanghai Securities News, Hong Kong Ta
Kung Pao, and the website of Shanghai Securities Stock Exchange
http://www.sse.com.cn on 25 May 2010 and 25 Jan. 2011.)
(XII) Index for information disclosure
Name and page number of the newspapers for
Information disclosed Date of disclosure
disclosure
Public Notice on Listing of Shares Subject to
Shanghai Securities News A7 23 Feb. 2010
Trading Moratorium
Public Notice on Resolutions of the 7th Shanghai Securities News B41, Hong Kong Ta
th
9 Apr. 2010
Session of the 6 Board of Directors Kung Pao B9
Public Notice on Resolutions of the 4th Shanghai Securities News B41, Hong Kong Ta
th
9 Apr. 2010
Session of the 6 Supervisory Committee Kung Pao
Public Notice on Estimated Routine Related Shanghai Securities News B41, Hong Kong Ta
9 Apr. 2010
Transactions in 2010 Kung Pao B9
40
Shanghai Securities News B41, Hong Kong Ta
The Annual Report 2009 9 Apr. 2010
Kung Pao B9
Shanghai Securities News B98, Hong Kong Ta
The 1st Quarterly Report 2010 30 Apr. 2010
Kung Pao A25
Public Notice on Progress of Introduction of
Strategic Partner to Acquire and Increase Shanghai Securities News B32, Hong Kong Ta
25 May 2010
Capital of Shanghai Jin Jiang International Kung Pao B10
Cold Logistics Development Co., Ltd.
Public Notice on Resolutions of the 9th Shanghai Securities News B35, Hong Kong Ta
th
28 May 2010
Session of the 6 Board of Directors Kung Pao B9
Public Notice on Resolutions of the Annual Shanghai Securities News 23, Hong Kong Ta
19 Jun. 2010
Shareholders’ General Meeting 2009 Kung Pao B3
Public Notice on Implementation of Profit Shanghai Securities News B31, Hong Kong Ta
13 Jul. 2010
Distribution 2009 Kung Pao B9
Public notice on Adjustment of Cash Shanghai Securities News B13, Hong Kong Ta
16 Jul. 2010
Dividend Payment Date for Y2009 Kung Pao B3
Public Notice on Trade suspension for Shanghai Securities News 27, Hong Kong Ta
2 Aug. 2010
Significant Events Kung Pao B2
Shanghai Securities News B13, Hong Kong Ta
Public Notice on Related Transaction 5 Aug. 2010
Kung Pao B3
Public Notice on Progress of Significant Shanghai Securities News 14, Hong Kong Ta
9 Aug. 2010
Events Kung Pao C7
Public Notice on Indication of Trade Shanghai Securities News 60, Hong Kong Ta
14 Aug. 2010
Resumption Kung Pao B9
Shanghai Securities News B45, Hong Kong Ta
Semi-annual Report for Y2010 31 Aug. 2010
Kung Pao A29
Public Notice on Application of Extending
the Date to Submit the Supplementary
Shanghai Securities News B21, Hong Kong Ta
Materials for Tender Offer Exemption by 10 Sep. 2010
Kung Pao C7
Shanghai Jin Jiang International Hotels
(Group) Co., Ltd.
Public Notice on the 11th Session of the Shanghai Securities News 33, Hong Kong Ta
11 Oct. 2010
6th Board of Directors Kung Pao B2
Public Notice on Mr. Shao Xiaoming
Shanghai Securities News 33, Hong Kong Ta
Resigning from Post of Vice President of the 11 Oct. 2010
Kung Pao B2
Company
Public Notice on the Progress of
Transferring the Equity Held by the Shanghai Securities News B35, Hong Kong Ta
12 Oct. 2010
Stated-owned Shareholders of the Kung Pao B6
Company
Public Notice on The 3rd Quarterly Report Shanghai Securities News B21, Hong Kong Ta
27 Oct. 2010
for Y2010 Kung Pao C4
Public Notice on the Correction of Shanghai Securities News 57, Hong Kong Ta 30 Oct. 2010
41
Semi-annual Report for Y2010 Kung Pao C5
Public Notice on the Progress of
Transferring the Equity Held by the Shanghai Securities News B27, Hong Kong Ta
16 Nov. 2010
Stated-owned Shareholders of the Kung Pao B3
Company
Public Notice on the Resolutions of the
13th Session of the 6th Board of Directors
Shanghai Securities News B28, Hong Kong Ta
and Circular of Convening the 1st Special 8 Dec. 2010
Kung Pao B9
Shareholders’ General Meeting for
Y2010
Public Notice on the 1st Special Shanghai Securities News B41, Hong Kong Ta
29 Dec. 2010
Shareholders’ General Meeting for Y2010 Kung Pao C7
Websites on which the aforesaid information were published: the website of Shanghai
Securities Stock Exchange http://www.sse.com.cn.
XI. Financial report (attached)
Deloitte Touche Tohmatsu Certified Public Accountants had issued the standard
unqualified auditor’s report for the Company.
(I) Audit Report (attached)
(II) Financial Statements (attached)
(III) Notes to financial statements
XII. Documents for reference
1. Text of this annual report with the signature of Legal Representative;
2. Text of accounting statements with personal signatures and seals of legal
representative, chief accountant and person in charge of accounting organization.
3. Original texts of all the Company’s documents and public notices disclosed on
newspapers designated by CSRC in the report period.
Chairman of the Board: Shen Maoxing
Shanghai Jin Jiang International Industrial Investment Co., Ltd
29 Mar. 2011
42
SHANGHAI JIN JIANG INTERNATIONAL
INDUSTRIAL INVESTMENT CO., LTD.
Financial Statements and Auditors’ Report
For the year ended December 31, 2010
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FINANCIAL STATEMENTS AND AUDITORS' REPORT
FOR THE YEAR ENDED DECEMBER 31, 2010
CONTENTS Page
AUDIT REPORT 1-2
THE COMPANY AND CONSOLIDATED BALANCE SHEETS 3-4
THE COMPANY AND CONSOLIDATED INCOME STATEMENTS 5-6
THE COMPANY AND CONSOLIDATED CASH FLOW STATEMENTS 7-8
THE COMPANY AND CONSOLIDATED STATEMENTS OF CHANGES IN 9 - 10
SHAREHOLDERS' EQUITY
NOTES TO THE FINANCIAL STATEMENTS 11 - 95
De Shi Bao (Shen) Zi (11)No. P0496
[Translation]
AUDIT REPORT
TO THE SHAREHOLDERS OF SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL
INVESTMENT CO., LTD.:
We have audited the accompanying financial statements of Shanghai Jin Jiang International
Industrial Investment Co., Ltd. (the "Jin Jiang Investment"), which comprise of the company and
consolidated balance sheets as at December 31, 2010, and the company and consolidated income
statements, the company and consolidated statements of changes in shareholders' equity and the
company and consolidated cash flow statements for the year then ended, and notes to the financial
statements.
1. Management’s responsibility for the financial statements
Management of the Jin Jiang Investment is responsible for the preparation and fair
presentation of these financial statements. This responsibility includes: (1) preparing the
financial statements in accordance with Accounting Standards for Business Enterprises to
achieve fair presentation of the financial statements; (2) designing, implementing and
maintaining internal control that is necessary to enable the financial statements that are free
from material misstatement, whether due to fraud or error.
2. Auditors’ responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with China Standards on Auditing. Those standards
require that we comply with the Code of Ethics for Chinese Certified Public Accountants and
plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers the internal control relevant to the preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the internal control. An
audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
Page 1
3. Opinion
In our opinion, the financial statements of the Jin Jiang Investment present fairly, in all
material respects, the Company's and consolidated financial position of the Jin Jiang
Investment as of December 31, 2010, and the Company’s and consolidated results of
operations and cash flows for the year then ended in accordance with Accounting Standards
for Business Enterprise.
Deloitte Touche Tohmatsu CPA Ltd. Chinese Certified Public Accountants
Shanghai, China Tang Lian Jiong
Xi Xiao Min
March 29, 2011
The auditors’ report and the accompanying financial statements are English translations of the Chinese auditors’ report
and statutory financial statements prepared under accounting principles and practices generally accepted in the People’s
Republic of China. These financial statements are not intended to present the financial position and results of operations
and cash flows in accordance with accounting principles and practices generally accepted in other countries and
jurisdictions. Where the English version does not conform to the Chinese version, the Chinese version prevails.
Page 2
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
AT DECEMBER 31, 2010
CONSOLIDATED BALANCE SHEET
Unit: RMB
Item Notes 2010 2009 Item Notes 2010 2009
Current assets: Current liabilities:
Currency funds V1 757,555,245.06 549,074,409.21 Short-term borrowings V 18 130,000,000.00 -
Accounts receivable V3 40,827,538.38 38,396,261.33 Notes payable V 19 12,405,900.00 -
Advances to suppliers V5 69,163,662.16 56,922,816.63 Accounts payable V 20 60,870,540.61 51,298,880.63
Dividends receivable V2 3,850,263.85 4,040,836.87 Advances from customers V 21 107,382,501.97 98,009,797.19
Other receivables V4 28,163,555.77 53,866,096.09 Employee benefits payable V 22 56,356,173.72 68,250,182.75
Inventories V6 51,758,026.90 45,686,888.87 Tax payable V 23 30,269,690.90 25,639,778.57
Non-current assets due within
V7 4,230,666.67 4,230,666.67 Dividends payable V 24 20,062,281.35 20,869,833.55
one year
Total current assets 955,548,958.79 752,217,975.67 Other payables V 25 278,494,033.96 253,038,056.93
Other current liabilities V 26 112,784,683.10 -
Total current liabilities 808,625,805.61 517,106,529.62
Non-current assets: Non-current liabilities:
Available-for-sale financial
V8 103,730,453.50 160,853,050.30 Deferred tax liabilities V 15 21,363,965.91 36,401,815.26
assets
Long-term equity investments V 9.10 759,135,519.02 715,080,149.87 Other non-current liabilities V 27 52,389,992.57 49,401,859.45
Investment property V 11 34,322,317.34 35,094,076.58 Total non-current liabilities 73,753,958.48 85,803,674.71
Fixed assets V 12 907,874,298.88 746,495,416.64 TOTAL LIABILITIES 882,379,764.09 602,910,204.33
Construction in progress V 13 61,502,091.22 56,331,734.03 Share capital V 28 551,610,107.00 551,610,107.00
Intangible assets V 14 236,001,365.95 215,970,246.23 Capital reserve V 29 436,404,492.81 482,469,111.16
Long-term prepayments 845,879.31 90,690.14 Surplus reserve V 30 228,288,330.29 207,894,544.31
Deferred tax assets V 15 1,694,343.60 1,741,330.18 Unappropriated profit V 31 799,364,990.68 701,034,222.87
Total shareholders' equity
Other non-current assets V 17 19,493,655.99 23,724,322.66 attributable to equity holders 2,015,667,920.78 1,943,007,985.34
of the parent
Total non-current assets 2,124,599,924.81 1,955,381,016.63 Minority interests 182,101,198.73 161,680,802.63
TOTAL SHAREHOLDERS'
2,197,769,119.51 2,104,688,787.97
EQUITY
TOTAL LIABILITIES AND
TOTAL ASSETS 3,080,148,883.60 2,707,598,992.30 3,080,148,883.60 2,707,598,992.30
SHAREHOLDERS' EQUITY
The accompanying notes form part of the financial statements.
The financial statements on pages 3 to 95 were signed by the following:
Head of the Company: Chief Financial Officer: Head of Accounting Department:
Yang Yuan Ping Yuan Zhe Ning Liu Zhao Hui
Page 3
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
AT DECEMBER 31, 2010
THE COMPANY BALANCE SHEET
Unit: RMB
Item Notes 2010 2009 Item Notes 2010 2009
Current assets: Current liabilities:
Currency funds XI 1 430,340,674.30 330,386,010.30 Accounts payable 795,431.21 461,579.81
Accounts receivable 294,908.28 140,940.39 Advances from customers 207,150.46 335,751.23
Advances to suppliers 29,545.00 23,600.00 Employee benefits payable XI 10 7,332,653.19 2,723,437.25
Other receivables XI 2 70,680,187.79 90,733,286.55 Tax payable 83,364.72 -6,687.40
Inventories 110,036.44 105,670.11 Dividends payable 20,062,281.35 20,869,833.55
Other current assets XI 3 91,210,000.00 - Other payables XI 11 40,500,479.18 8,522,309.15
Total current assets 592,665,351.81 421,389,507.35 Other current liabilities XI 12 79,409,972.78 -
Total non-current liabilities 148,391,332.89 32,906,223.59
Non-current assets: Non-current liabilities:
Available-for-sale financial assets XI 4 86,769,334.96 139,393,876.31 Deferred tax liabilities XI 8 17,383,757.09 31,330,231.78
Long-term equity investments XI 5 975,964,257.10 993,163,368.40 Total non-current liabilities 17,383,757.09 31,330,231.78
Investment property XI 6 20,611,834.03 21,054,190.51 TOTAL LIABILITIES 165,775,089.98 64,236,455.37
Fixed assets XI 7 43,544,565.61 46,316,631.90 SHAREHOLDERS' EQUITY:
Intangible assets 884,937.80 921,682.00 Share capital 551,610,107.00 551,610,107.00
Deferred tax assets XI 8 1,694,343.60 1,741,330.18 Capital reserve XI 13 432,216,934.20 474,056,358.31
Other non-current assets XI 9 15,262,988.76 15,262,988.76 Surplus reserve 228,288,330.29 207,894,544.31
Total non-current assets 1,144,732,261.86 1,217,854,068.06 Unappropriated profit XI 14 359,507,152.20 341,446,110.42
TOTAL SHAREHOLDERS'
1,571,622,523.69 1,575,007,120.04
EQUITY
TOTAL LIABILITIES AND
TOTAL ASSETS 1,737,397,613.67 1,639,243,575.41 1,737,397,613.67 1,639,243,575.41
SHAREHOLDERS' EQUITY
The accompanying notes form part of the financial statements.
Page 4
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FOR THE YEAR ENDED DECEMBER 31, 2010
CONSOLIDATED INCOME STATEMENT
Unit: RMB
Item Notes 2010 2009
I. Total operating income 1,841,582,680.33 1,598,396,220.67
Including: Operating income V 32 1,841,582,680.33 1,598,396,220.67
II. Total operating costs 1,661,008,289.35 1,458,205,149.65
Including: Operating costs V 32 1,366,645,791.33 1,156,375,275.34
Business taxes and levies V 33 42,030,518.84 39,620,080.55
Selling and distribution expenses V 34 139,207,207.78 133,160,020.35
Administrative expenses V 35 114,940,890.24 135,952,071.75
Financial expenses V 36 (1,938,842.42) (6,935,662.22)
Impairment loss in respect of assets V 38 122,723.58 33,363.88
Add:Investment income V 37 180,704,235.66 175,708,824.20
Including:Income from investment in associates
151,808,089.26 115,570,899.37
and joint ventures
III. Operating profit 361,278,626.64 315,899,895.22
Add: Non-operating income V 39 24,672,409.27 32,024,337.44
Less: Non-operating expenses V 40 944,297.55 728,033.93
Including: Losses from disposal of non-current
901,747.50 319,630.42
assets
IV. Total profit 385,006,738.36 347,196,198.73
Less: Income tax expenses V 41 45,921,941.00 38,152,652.85
V. Net profit 339,084,797.36 309,043,545.88
Net profit attributable to shareholders of the parent 284,207,585.89 269,430,936.79
Profit attributable to minority interests 54,877,211.47 39,612,609.09
VI. Earnings per share: V 42
1. Basic earnings per share 0.515 0.488
2. Diluted earnings per share N/A N/A
VII. Other comprehensive income V 43 (46,168,404.68) 60,323,455.31
VIII. Total comprehensive income 292,916,392.68 369,367,001.19
Comprehensive income attributable to shareholders
238,142,967.54 329,425,763.95
of the parent
Comprehensive income attributable to minority interests 54,773,425.14 39,941,237.24
The accompanying notes form part of the financial statements.
Page 5
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FOR THE YEAR ENDED DECEMBER 31, 2010
THE COMPANY INCOME STATEMENT
Unit: RMB
Item Notes 2010 2009
I. Operating income XI 15 24,297,104.83 20,783,121.61
Less: Operating costs XI 15 3,834,512.90 3,535,007.96
Business taxes and levies 1,230,354.31 1,044,666.09
Selling and distribution expenses 9,229,630.02 8,499,588.57
Administrative expenses 17,545,542.47 20,934,266.71
Financial expenses (4,122,347.02) (3,459,913.60)
Impairment loss in respect of assets - -
Add:Investment income XI 16 208,965,186.05 255,692,128.91
Including:Income from investment in associates
24,123,819.71 23,031,922.20
and joint ventures
II. Operating profit 205,544,598.20 245,921,634.79
Add: Non-operating income 44,367.11 7,874.30
Less: Non-operating expenses 43,590.61 -
Including: Losses from disposal of non-current
- -
assets
III. Total profit 205,545,374.70 245,929,509.09
Less: Income tax expenses 1,607,514.84 2,930,913.57
IV. Net profit 203,937,859.86 242,998,595.52
V. Other comprehensive income XI 17 (41,839,424.11) 49,374,805.50
VI. Total comprehensive income 162,098,435.75 292,373,401.02
The accompanying notes form part of the financial statements.
Page 6
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FOR THE YEAR ENDED DECEMBER 31, 2010
CONSOLIDATED CASH FLOW STATEMENT
Unit: RMB
Item Notes 2010 2009
Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 1,976,114,895.43 1,704,408,956.61
Other cash receipts relating to operating activities V 44(1) 22,516,338.80 20,709,500.94
Sub-total of cash inflows 1,998,631,234.23 1,725,118,457.55
Cash payments for goods purchased and services received 964,375,720.79 820,942,403.25
Cash payments to and on behalf of employees 449,380,037.29 409,796,563.04
Payments of all type of taxes 95,432,514.65 85,406,855.83
Other cash payments relating to operating activities V 44(2) 70,704,818.21 84,621,613.59
Sub-total of cash outflows 1,579,893,090.94 1,400,767,435.71
Net cash flows from operating activities V 45(1) 418,738,143.29 324,351,021.84
Cash flow from investing activities:
Cash receipts from disposals and returns of investments 163,278,914.39 33,343,025.71
Cash receipts from returns on investments 100,609,589.44 188,937,157.87
Net cash receipts from disposals of fixed assets, intangible assets
and other long-term assets 41,313,896.91 61,960,855.66
Net cash receipts from disposals of subsidiaries and other business
units V 45(2) 1,539,618.36 9,418,850.70
Other cash receipts relating to investing activities V 44(3) 4,230,666.67 4,230,666.67
Sub-total of cash inflows 310,972,685.77 297,890,556.61
Cash payments to acquire and construct fixed assets, intangible
assets and other long-term assets 458,326,127.06 387,920,323.14
Cash payments to acquire investments 12,015,314.68 55,731,047.72
Net cash payments for acquisitions of subsidiaries and other
business units - -
Other cash payments relating to investing activities V 44(4) - 560,563.33
Sub-total of cash outflows 470,341,441.74 444,211,934.19
Net cash flows from investing activities (159,368,755.97) (146,321,377.58)
Cash flows from financing activities:
Cash receipts from investors making investment in the enterprise V 26 23,022,718.00 -
Including: cash receipts from minorities making investment in
subsidiaries 23,022,718.00 -
Cash receipts from borrowings 200,000,000.00 -
Sub-total of cash inflows 223,022,718.00 -
Cash repayments of amounts borrowed 70,000,000.00 25,000,000.00
Cash payments for distribution of dividends or profit or interest
expenses 203,807,513.26 213,560,808.36
Including: payments for distribution of dividends or profit to
minorities of subsidiaries 34,353,029.04 57,310,166.56
Sub-total of cash outflows 273,807,513.26 238,560,808.36
Net cash flows from financing activities (50,784,795.26) (238,560,808.36)
Effect of foreign exchange rate changes on cash and cash equivalents (103,756.21) -
Net increase (decrease) in cash and cash equivalents 208,480,835.85 (60,531,164.10)
Add:Opening balance of cash and cash equivalents V 45(3) 549,074,409.21 609,605,573.31
Closing balance of cash and cash equivalents V 45(3) 757,555,245.06 549,074,409.21
The accompanying notes form part of the financial statements.
Page 7
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FOR THE YEAR ENDED DECEMBER 31, 2010
THE COMPANY CASH FLOW STATEMENT
Unit: RMB
Item Notes 2010 2009
Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 24,014,536.17 20,814,318.03
Other cash receipts relating to operating activities 4,533,764.30 3,734,646.45
Sub-total of cash inflows 28,548,300.47 24,548,964.48
Cash payments for goods purchased and services received 3,510,972.83 3,638,856.95
Cash payments to and on behalf of employees 13,066,043.94 13,025,910.44
Payments of all type of taxes 3,198,801.50 7,443,718.41
Other cash payments relating to operating activities 9,711,461.54 8,491,705.79
Sub-total of cash outflows 29,487,279.81 32,600,191.59
Net cash flows from operating activities XI 18(1) (938,979.34) (8,051,227.11)
Cash flow from investing activities:
Cash receipts from disposals and returns of investments 211,834,142.27 24,200,903.43
Cash receipts from returns on investments 192,778,585.19 268,968,236.92
Net cash receipts from disposals of fixed assets, intangible assets
and other long-term assets 1,636.74 -
Other cash receipts relating to investing activities - 2,749,933.34
Sub-total of cash inflows 404,614,364.20 295,919,073.69
Cash payments to acquire and construct fixed assets, intangible
assets and other long-term assets 270,711.00 182,255.00
Cash payments to acquire investments 173,225,314.78 51,611,210.00
Sub-total of cash outflows 173,496,025.78 51,793,465.00
Net cash flows from investing activities 231,118,338.42 244,125,608.69
Cash flows from financing activities:
Other cash receipts relating to financing 36,030,714.33 -
Sub-total of cash inflows 36,030,714.33 -
Cash payments for distribution of dividends or profit or interest
expenses 166,290,584.30 165,951,263.90
Sub-total of cash outflows 166,290,584.30 165,951,263.90
Net cash flows from financing activities (130,259,869.97) (165,951,263.90)
Effect of foreign exchange rate changes on cash and cash
35,174.89 -
equivalents
Net increase in cash and cash equivalents 99,954,664.00 70,123,117.68
Add:Opening balance of cash and cash equivalents XI 18(2) 330,386,010.30 260,262,892.62
Closing balance of cash and cash equivalents XI 18(2) 430,340,674.30 330,386,010.30
The accompanying notes form part of the financial statements.
Page 8
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FOR THE YEAR ENDED DECEMBER 31, 2010
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
Unit: RMB
2010 2009
Item Attributable to equity holders of the parent company Attributable to equity holders of the parent company
Total Total
Minority
Minority interests shareholders’ shareholders’
interests
Unappropriated equity Unappropriated equity
Share capital Capital reserve Surplus reserve Share capital Capital reserve Surplus reserve
profit profit
I. Balance at December
551,610,107.00 482,469,111.16 207,894,544.31 701,034,222.87 161,680,802.63 2,104,688,787.97 551,610,107.00 437,051,678.24 183,594,684.76 621,386,177.73 215,181,242.84 2,008,823,890.57
31, 2009
II. Balance at January 1,
551,610,107.00 482,469,111.16 207,894,544.31 701,034,222.87 161,680,802.63 2,104,688,787.97 551,610,107.00 437,051,678.24 183,594,684.76 621,386,177.73 215,181,242.84 2,008,823,890.57
2010
III. Changes for the year
(I) Net profit - - - 284,207,585.89 54,877,211.47 339,084,797.36 - - - 269,430,936.79 39,612,609.09 309,043,545.88
(II) Other comprehensive
- (46,064,618.35) - - (103,786.33) (46,168,404.68) - 59,994,827.16 - - 328,628.15 60,323,455.31
income
Subtotal of (I) and (II) - (46,064,618.35) - 284,207,585.89 54,773,425.14 292,916,392.68 - 59,994,827.16 - 269,430,936.79 39,941,237.24 369,367,001.19
(III) Owner’s
contributions and
reduction in capital
1. Capital contribution
- - - - - - - - - - - -
from owners
2. Share-based payment
recognised in - - - - - - - - - - - -
shareholders' equity
3. Others (Note) - - - - - - - (14,577,394.24) - - (49,844,294.83) (64,421,689.07)
(IV) Profit distribution
1. Transfer to surplus
- - 20,393,785.98 (20,393,785.98) - - - - 24,299,859.55 (24,299,859.55) - -
reserve
2. Distribution to
- - - (165,483,032.10) (34,353,029.04) (199,836,061.14) - - - (165,483,032.10) (43,597,382.62) (209,080,414.72)
shareholders
IV. Balance at
551,610,107.00 436,404,492.81 228,288,330.29 799,364,990.68 182,101,198.73 2,197,769,119.51 551,610,107.00 482,469,111.16 207,894,544.31 701,034,222.87 161,680,802.63 2,104,688,787.97
December 31,2010
Page 9
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FOR THE YEAR ENDED DECEMBER 31, 2010
THE COMPANY STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
Unit: RMB
2010 2009
Item
Unappropriated Total shareholders’ Unappropriated Total shareholders’
Share capital Capital reserve Surplus reserve Share capital Capital reserve Surplus reserve
profit equity profit equity
I. Balance at December
551,610,107.00 474,056,358.31 207,894,544.31 341,446,110.42 1,575,007,120.04 551,610,107.00 424,681,552.81 183,594,684.76 288,230,406.55 1,448,116,751.12
31, 2009
II. Balance at January
551,610,107.00 474,056,358.31 207,894,544.31 341,446,110.42 1,575,007,120.04 551,610,107.00 424,681,552.81 183,594,684.76 288,230,406.55 1,448,116,751.12
1, 2010
III. Changes for the
year
(I) Net profit - - - 203,937,859.86 203,937,859.86 - - - 242,998,595.52 242,998,595.52
(II) Other
- (41,839,424.11) - - (41,839,424.11) - 49,374,805.50 - - 49,374,805.50
comprehensive income
Subtotal of (I) and
- (41,839,424.11) - 203,937,859.86 162,098,435.75 - 49,374,805.50 - 242,998,595.52 292,373,401.02
(II)
(III) Owner’s
contributions and
reduction in capital
1. Capital contribution
- - - - - - - - - -
from owners
2. Share-based
payment recognised in - - - - - - - - - -
shareholders' equity
3. Others - - - - - - - - - -
(IV) Profit distribution
1. Transfer to surplus
- - 20,393,785.98 (20,393,785.98) - - - 24,299,859.55 (24,299,859.55) -
reserve
2. Distribution to
- - - (165,483,032.10) (165,483,032.10) - - - (165,483,032.10) (165,483,032.10)
shareholders
IV. Balance at
551,610,107.00 432,216,934.20 228,288,330.29 359,507,152.20 1,571,622,523.69 551,610,107.00 474,056,358.31 207,894,544.31 341,466,110.42 1,575,007,120.04
December 31, 2010
Page 10
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
I. GENERAL
Shanghai Jin Jiang International Industrial Investment Co., Ltd. (the “Company”) is a limited
company incorporated in the People’s Republic of China (the “PRC”), reformed from Shanghai
Jin Jiang Tower, on February 24, 1993. The headquarters is located in Shanghai. The public shares
to the society and the foreign capital shares issued by the Company have been formally listed in
Shanghai Stock Exchange since 1993. Its controlling shareholder is the Jin Jiang International
(Group) Co., Ltd.
The Company and its subsidiaries (the “Group”) are engaged in vehicle operating, transportation
services, travelling services, business services, hotel, property management, office leasing,
development of real estate and providing field for stores.
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES
1. Basis of preparation of financial statements
The Group has adopted Accounting Standards for Business Enterprises issued by the Ministry
of Finance on February 15, 2006. In addition, the Group has disclosed the financial information
in accordance with Information Disclosure and Presentation Rules for Companies Offering
Securities to the Public No. 15－General Provisions on Financial Reporting (Revised in
2010).
Basis of accounting and principle of measurement
The Group has adopted the accrual basis of accounting. Except for certain financial
instruments which are measured at fair value, the Group has adopted the historical cost as the
principle of measurement of the financial statements. Where assets are impaired, provisions
for asset impairment are made in accordance with relevant requirements.
2. Statement of compliance with the Accounting Standards for Business Enterprises
The financial statements of the Company have been prepared in accordance with CASs, and
present truly and completely, the Company’s and Consolidated financial position as of
December 31 ,2010, and the Company’s and Consolidated results of operations and cash flows
for the year then ended.
3. Accounting year
The Group has adopted the calendar year as its accounting year, i.e. from January 1 to
December 31.
4. Functional currency
Renminbi (“RMB”) is the currency of the primary economic environment in which the Group
operates. The functional currency of the Group is RMB. RMB is used as reporting currency to
prepare the financial statements.
Page 11
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
5. Business combinations involving and not involving enterprises under common control
Business combinations are classified into business combinations involving enterprises under
common control and business combinations not involving enterprises under common control.
5.1 A business combination involving enterprises under common control
A business combination involving enterprises under common control is a business
combination in which all of the combining enterprises are ultimately controlled by the same
party or parties both before and after the combination, and that control is not transitory.
Assets and liabilities that are obtained in a business combination are measured at their carrying
amounts at the combination date as recorded by the party being absorbed. The difference
between the carrying amount of the net assets obtained and the carrying amount of the
consideration paid for the combination is adjusted to capital premium in capital reserve. If the
capital premium in capital reserve is not sufficient to absorb the difference, any excess is
adjusted against retained earnings.
Costs incurred that are directly attributable to the combination are charged to profit or loss in
the period in which they are incurred.
5.2 A business combination not involving enterprises under common control
A business combination not involving enterprises under common control is a business
combination in which all of the combining enterprises are not ultimately controlled by the
same party or parties before and after the combination
The cost of combination is the aggregate of the fair values, at the acquisition date, of the assets
given, liabilities incurred or assumed, and equity securities issued by the acquirer, in exchange
for control of the acquiree. Costs incurred by the absorbing party that are directly attributable
to the combination, including audit fees, valuation fees and legal fees, shall be charged to
profit or loss in the period in which they are incurred. The Group's previously held equity
interest in the acquiree is remeasured to fair value at the acquisition date (i.e. the date when the
Group obtains control) and the resulting gain or loss, if any, is recognised in profit or loss.
Amounts arising from interests in the acquiree prior to the acquisition date that have
previously been recognised in other comprehensive income are reclassified to profit or loss
where such treatment would be appropriate if that interest were disposed of.
Page 12
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
5. Business combinations - continued
5.2 A business combination not involving enterprises under common control - continued
The acquiree’s identifiable assets, liabilities and contingent liabilities that satisfy the
recognition criteria, which are acquired in a business combination not involving enterprises
under common control, are measured at their fair value at the acquisition date. Where the cost
of combination exceeds the acquirer’s interest in the fair value of the acquiree’s identifiable
net assets, the difference is recognised as goodwill. Where the cost of combination is less than
the acquirer’s interest in the fair value of the acquiree’s identifiable net assets, the difference is
accounted for as follows: firstly, the acquirer reassesses the measurement of the fair values of
the acquiree’s identifiable assets, liabilities and contingent liabilities and measurement of the
cost of combination; then, if after that reassessment, the cost of combination is still less than
the acquirer’s interest in the fair value of the acquiree’s identifiable net assets, the acquirer
recognises the remaining difference immediately in profit or loss for the current period.
Goodwill arising in a business combination is disclosed individually in the consolidated
financial statements and measured by cost minus accumulated impairment. Goodwill is tested
for impairment annually, irrespective of whether there is any indication that the asset may be
impaired.
For the purpose of impairment testing, goodwill is considered together with the related asset
group or sets of asset groups. Namely, the carrying amount of goodwill, from the acquisition
date, is allocated on a reasonable basis to each related asset group; if it is not possible to
allocate to the related asset groups, it is allocated to each of the related sets of asset groups.
When the recoverable amount of an asset group or a set of asset groups is less than its carrying
amount, an impairment loss is recognised accordingly. The amount of impairment loss first
reduces the carrying amount of any goodwill allocated to the asset group or set of asset groups,
and then reduces the carrying amount of other assets (other than goodwill) within the asset
group or set of asset groups, pro rata on the basis of the carrying amount of each asset.
The recoverable amount of an asset is the higher of its fair value less costs of disposal and the
present value of the future cash flows expected to be derived from the asset. An asset’s fair
value is the price in a sale agreement in an arm’s length transaction. If there is no sale
agreement but an asset is traded in an active market, fair value is the current bid price. If there
is no sale agreement or active market for an asset, fair value is based on the best information
available. Costs of disposal include legal costs related to the disposal of the asset, related taxes,
costs of removing the asset and direct costs to bring the asset into condition for its sale.
Once an impairment loss on goodwill is recognised, it is not reversed in a subsequent period.
Page 13
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
6. Preparation of consolidated financial statements
The scope of consolidated financial statements is determined on the basis of control. Control is
the power to govern the financial and operating policies of an enterprise so as to obtain
benefits from its operating activities.
The date on which the Group effectively obtains or loses control of its subsidiaries are
considered as the combination date or acquisition date. For a subsidiary already disposed of,
its operating results and cash flows before the disposal date are appropriately included in the
consolidated income statement and the consolidated cash flow statement.
Where a subsidiary has been acquired through a business combination not involving
enterprises under common control, the subsidiary’s operating results and cash flows after the
acquisition date are appropriately included in the consolidated income statement and the
consolidated cash flow statement, and no adjustments are made to the opening balance and
comparative figures of the consolidated financial statements.
Where a subsidiary has been acquired through a business combination involving enterprises
under common control, the subsidiary’s operating results and cash flows from the beginning of
the reporting period to the combination date are appropriately included in the consolidated
income statement and the consolidated cash flow statement, and adjustments are made to the
comparative figures of the consolidated financial statements accordingly. Where a subsidiary
has been acquired through a business combination involving enterprise under common control,
the subsidiaries' operating results and cash flows from the beginning of the reporting period to
the combination date are appropriately included in the consolidated income statement and the
consolidated cash flow statement.
Major accounting policies and accounting periods adopted by the subsidiary (ies) are defined
according to the standardised accounting policies and accounting periods established by the
Company.
All significant intra-group accounts and transactions between the Company and its subsidiaries
or between subsidiaries are eliminated on consolidation.
The portion of a subsidiary’s equity that is not attributable to the parent is treated as minority
interest and presented as “minority interest” in the consolidated balance sheet within owners’
equity. The portion of net profits or losses of subsidiaries for the period attributable to minority
interest is presented in the consolidated income statement below the "net profit" line item as
“minority interest”.
When the amount of loss attributable to the minority shareholders of a subsidiary exceeds the
minority shareholders’ portion of the opening balance of owners' equity of the subsidiary, the
excess amount is still allocated against minority interest.;
Page 14
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
6. Preparation of consolidated financial statements - continued
Changes in a parent’s ownership interest in a subsidiary caused by purchase of minority
interests or disposal of part of the investment that do not result in the loss of control are
accounted for within equity, and the carrying amount of owners' equity attributable to equity
holders of the parent and minority interests should be adjusted to reflect the changes. The
difference between the adjustment of minority interests and the fair value of the
consideration paid or received is adjusted to capital reserve.
When an entity loses control of a subsidiary resulting from the disposal of part of the
investment or other reasons, the investment retained in the former subsidiary is remeasured at
its fair value at the date when control is lost. The difference between the sum of the
consideration received from the disposal of the investment and the fair value of the investment
retained in the former subsidiary, and the shares of the net assets calculated according to
former proportion of the ownership interest is recognised in the investment income at the date
when control is lost. Amounts arising from interests in the acquiree prior to the acquisition
date that have previously been recognised in other comprehensive income are reclassified to
investment income when the control is lost.
7. Cash and cash equivalents
Cash comprises cash on hand and deposits that can be readily withdrawn on demand. Cash
equivalents are short-term, highly liquid investments that are readily convertible to known
amounts of cash and which are subject to an insignificant risk of change in value.
8. Translation of transactions denominated in foreign currencies
On initial recognition, foreign currency transactions are translated by applying the spot
exchange rate at the dates of the transactions.
At the balance sheet date, foreign currency monetary items are translated to RMB using the
spot exchange rate at that date. Exchange differences arising from the differences between the
spot exchange rate prevailing at the balance sheet date and those spot rates used on initial
recognition or at the previous balance sheet date are recognised in profit or loss for the current
period, except for: (1) exchange differences arising from specific-purpose borrowings in
foreign currencies that are eligible for capitalisation, which are capitalised during the
capitalisation period and included in the cost of related assets; and (2) exchange differences
arising from hedging instruments for foreign currency risk, which are treated under hedge
accounting (3) exchange differences arising from foreign currency non-monetary
available-for-sale items i.e. stocks and changes in book value of available-for-sale monetary
items other than its unamortised cost, which are treated as other comprehensive income in
capital reserve.
Page 15
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
8. Translation of transactions denominated in foreign currencies - continued
Foreign currency non-monetary items carried at historical cost continue to be measured at the
amounts in functional currency translated using the spot exchange rates at the dates of the
transactions; foreign currency non-monetary items carried at fair value are translated using the
spot exchange rates at the date when the fair value was determined. Differences between the
translated amount and the original amount of functional currency are accounted for as changes
in fair value (including changes in foreign exchange rates) and included in profit or loss for the
period or capital reserve of shareholders' equity.
9. Financial instruments
The Group shall recognise a financial asset or a financial liability when the Group becomes a
party to the contractual provisions of the financial instrument. When a financial asset or
financial liability is recognised initially, the Group shall measure it at its fair value. In the case
of a financial asset or financial liability at fair value through profit or loss, transaction costs
shall be charged to the profit or loss for the period. For other financial assets or financial
liabilities, transaction costs shall be included in their initial recognition amounts.
9.1 Fair value establishment
Fair value is the amount for which an asset could be exchanged, or a liability settled, between
knowledgeable, willing parties in an arm’s length transaction. If there is an active market for a
financial asset or financial liability, the quoted price in the active market is used to establish
the fair value of the financial instrument by the Group. Quoted prices from an active market
are prices that are readily and regularly available from an exchange, dealer, broker, industry
group or pricing service agency etc., and represent prices of actual market transactions on an
arm’s length basis. If no active market exists for a financial instrument, the Group establishes
fair value by using a valuation technique, which includes using recent market transactions
between knowledgeable, willing parties, reference to the current fair value of another
instrument that is substantially the same, discounted cash flow analysis and option pricing
models.
9.2 Effective interest method
The effective interest method is a method of calculating the amortised cost of a financial asset
or a financial liability (or group of financial assets or liabilities) and of allocating the interest
income or interest expense over the relevant period, using the effective interest rate. The
effective interest rate is the rate that exactly discounts estimated future cash payments or
receipts through the expected life of the financial instrument or, when appropriate, a shorter
period to the net carrying amount of the financial asset or financial liability.
When calculating the effective interest rate, an enterprise shall estimate future cash flows
considering all contractual terms of the financial asset or financial liability (including
prepayment, call and similar options). The calculation of the effective interest rate shall
include all fees paid or received between the parties to the contract giving rise to the financial
asset and financial liability that are an integral part of the effective interest rate, transaction
costs, and premiums or discounts etc.
Page 16
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.3 Classification, recognition and measurement of financial assets
On initial recognition, financial assets are classified into the following categories: financial
assets at ‘fair value through profit or loss’ (FVTPL), ‘held-to-maturity’ investments, ‘loans and
receivables’ and ‘available-for-sale’ (AFS) financial assets. Financial assets are initially
recognised at fair value. All regular way purchase or sales of financial assets are recognised
and derecognised on a settlement date basis.
9.3.1. Financial assets at FVTPL
Financial assets are classified as at FVTPL where the financial asset is either held for trading
or it is designated as at FVTPL. All Financial assets at FVTPL of the Group are classified as
held for trading.
A financial asset is classified as held for trading if: (1) it has been acquired principally for the
purpose of selling in the near future; or (2) it is part of a portfolio of identified financial
instruments that are managed together and for which there is evidence of a recent actual
pattern of short-term profit-taking; or (3) it is a derivative, except for a derivative that is a
designated and effective hedging instrument, or a financial guarantee contract, or a derivative
that is linked to and must be settled by delivery of an unquoted equity instrument (without a
quoted price from an active market) whose fair value cannot be reliably measured.
Financial assets at held for trading are subsequently measured at fair value, with gains or
losses arising from changes in fair value as well as dividends and interest income related to
such financial assets recognised in profit or loss for the current period.
9.3.2. Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments
that are not quoted in an active market. The notes receivable, accounts receivable, dividends
receivable, other receivable and other current assets are included in this category.
Loans and receivables are subsequently measured at amortised cost using the effective interest
method. Gains or losses arising from derecognition, impairment or amortisation are
recognised in profit or loss for the current period.
Page 17
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.3 Classification, recognition and measurement of financial assets - continued
9.3.3. AFS financial assets
AFS financial assets are those non-derivative financial assets that are designated as
available-for-sale or are not classified as (1) financial assets at FVTPL, (2) loans and
receivables, and (3) held-to-maturity investments.
AFS financial assets are subsequently measured at fair value. Gains or losses arising from
changes in fair value (other than impairment losses and foreign exchange gains and losses
resulted from foreign currency monetary assets which are recognised in profit or loss for the
current period) are recognised directly in shareholders' equity, and are reversed and recognised
in profit or loss for the period when such financial assets are derecognised.
Interest received during the period in which the Group holds the AFS financial assets and cash
dividends declared by the investee are recognised as investment income.
Investments in equity instruments that do not have a quoted market price in an active market
and whose fair value cannot be reliably measured and derivative assets that are linked to and
must be settled by delivery of such unquoted equity instruments, which shall be measured at
cost.
9.4 Impairment of financial assets
The Group assesses the carrying amount of financial assets, other than those at FVTPL, at
each balance sheet date. If there is objective evidence that financial assets are impaired the
Group determines the amount of any impairment loss. Objective evidence that a financial
asset is impaired is evidence arising from one or more events that occurred after the initial
recognition of the asset and that event has an impact on the estimated future cash flows of the
financial asset which can be reliably estimated.
Objective evidence that a financial asset is impaired includes evidence arising from the
following events:
(1) Significant financial difficulty of the issuer or obligor;
(2) A breach of contract, such as a default or delinquency in interest or principal payments;
(3) The lender, for economic or legal reasons relating to the borrower’s financial difficulty,
granting to the borrower a concession that the lender would not otherwise consider;
(4) It becoming probable that the borrower will enter bankruptcy or other financial
reorganization;
(5) The disappearance of an active market for that financial asset because of financial
difficulties;
Page 18
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.4 Impairment of financial assets - continued
(6) Observable data indicating that there is a measureable decrease in the estimated future
cash flows from a group of financial assets since the initial recognition of those assets,
although the decrease cannot yet be identified with the individual financial assets in the
group, including:
- Adverse changes in the payment status of borrowers in the group;
- National or local economic conditions that correlate with defaults on the assets in the
group;
(7) Significant changes with an adverse effect that have taken place in the technological,
market, economic or legal environment in which the issuer operates, and indicates that the
cost of the investment in the equity instrument may not be recovered;
(8) A significant or prolonged decline in the fair value of an investment in an equity
instrument below its cost;
(9) Other objective evidence indicating there is an impairment of a financial asset.
- Impairment of financial assets carried at amortised cost
If financial assets carried at amortised cost are impaired, the carrying amount of the financial
asset shall be reduced to the present value of estimated future cash flows (excluding future
credit losses that have not been incurred). The amount of reduction shall be recognised as an
impairment loss in profit or loss. If, subsequent to the recognition of an impairment loss on a
financial asset carried at amortised cost, there is objective evidence of a recovery in value of
the financial asset which can be related objectively to an event occurring after the impairment
was recognised (such as an improvement in the debtor’s credit rating), the previously
recognised impairment loss shall be reversed and recognised in profit or loss. However, the
reversal shall not result in a carrying amount of the financial asset that exceeds what the
amortised cost would have been had the impairment not been recognised at the date the
impairment is reversed.
The Group shall assess the asset individually for impairment for both a financial asset that is
individually significant and not individually significant.
- Impairment of AFS financial assets
Where AFS financial assets are impaired, accumulated losses due to decreases in fair value
previously recognised directly in capital reserve are reversed and charged to profit or loss for
the current period. The reversed accumulated losses are the asset's initial acquisition costs
after deducting amounts recovered and amortised, current fair value and impairment losses
previously recognised in profit or loss.
If, in a subsequent period, the carrying amount of financial assets increases and the increase
can be related objectively to an event occurring after the impairment was recognised, the
previously recognised impairment losses are reversed. The reversal of impairment losses of
AFS equity instruments is recognised in equity and capital surplus, and the impairment losses
of AFS debt instruments are recognised in profit or loss for the current period.
Page 19
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.5 Transfer of financial assets
The Group derecognises a financial asset only when: (1) the contractual rights to the cash
flows from the financial asset expire; or (2) it transfers the financial asset and substantially all
the risks and rewards of ownership of the asset to another entity; or (3) it transfers the
financial asset, neither transfers nor retains substantially all the risks and rewards of
ownership but has not retained control over the financial assets.
If an enterprise neither transfers nor retains substantially all the risks and rewards of
ownership of the financial asset, and retains its control of the financial asset, it recognises the
financial asset to the extent of its continuing involvement in the transferred financial asset and
recognise an associated liability. The extent of the enterprise’s continuing involvement in the
transferred asset is the extent to which it is exposed to changes in the value of the transferred
asset.
For a transfer of a financial asset in its entirety that satisfies the derecognition criteria, the
difference between the following two amounts is recognised in profit or loss for the current
period:
(1)the carrying amount of the financial asset transferred; and
(2)the sum of the consideration received from the transfer and any cumulative gain or loss that
had been recognised directly in equity.
If a part of the transferred financial asset qualifies for derecognition, the carrying amount of
the transferred financial asset in its entirety is allocated between the part that continues to be
recognised and the part that is derecognised, based on the relative fair values of those parts. In
this case, the servicing asset retained is treated as a part that continues to be recognised. The
difference between the following two amounts is included in profit or loss for the current
period:
(1)the carrying amount allocated to the part derecognised; and
(2)the sum of the consideration received for the part derecognised and (if the transfer involves
an available-for-sale financial asset) any cumulative gain or loss allocated to it that had
been recognised directly in equity.
9.6 Classification, recognition and measurement of financial liabilities
The Group recognizes a contractual obligation with substantial terms and financial liability or
equity instrument recognized according to their definition as financial liability or equity
instrument.
On initial recognition, financial liabilities are classified as either financial liabilities at ‘fair
value through profit or loss’ (FVTPL) or ‘other financial liabilities’. The Group does not hold
financial liabilities at ‘fair value through profit or loss (FVTPL)’ at present.
Page 20
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.6 Classification, recognition and measurement of financial liabilities - continued
9.6.1 Other financial liabilities
Derivative financial liabilities linked to and which must be settled by delivery of an unquoted
equity instrument (without a quoted price in an active market) whose fair value cannot be
measured reliably is subsequently measured at cost. Other financial liabilities are subsequently
measured at amortised cost using the effective interest method; gains or losses arising from
derecognition or amortisation is recognised in profit or loss for the period.
9.6.2. Financial guarantee contract
A financial guarantee contract requires the issuer of the contract to make specific payments to
the contract holder for a loss incurred by the holder if a debtor fails to pay under the term of a
debt instrument. Financial guarantee contracts that are not designated as financial liabilities at
FVTPL are initially recognised at fair value, and are subsequently measured at the higher of
the following two amounts: (1) the amount determined in accordance with Accounting
Standard for Business Enterprises No. 13 - Contingencies; and (2) the amount initially
recognised less cumulative amortisation recognised in accordance with the principles set out
in Accounting Standard for Business Enterprises No. 14 - Revenue
9.7 Derecognition of financial liabilities
The Group derecognises a financial liability (or part of it) only when the underlying present
obligation (or part of it) is discharged. An agreement between the Group (an existing borrower)
and an existing lender to replace the original financial liability with a new financial liability
with substantially different terms is accounted for as an extinguishment of the original
financial liability and the recognition of a new financial liability.
When the Group derecognises a financial liability or a part of it, the Group recognises the
difference between the carrying amount of the financial liability (or part of the financial
liability) derecognised and the consideration aid (including any non-cash assets transferred or
new financial liabilities assumed) in profit or loss for the period.
9.8 Offsetting a financial asset and a financial liability
Financial assets and financial liabilities are presented separately in the balance sheet and are
not offset. However, a financial asset and a financial liability is offset and the net amount
presented in the balance sheet when both of the following conditions are satisfied: (1) the
Group has a legal right to set off the recognised amounts and the legal right is currently
enforceable; and (2) the Group intends either to settle on a net basis, or to realize the financial
asset and settle the financial liability simultaneously.
Page 21
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.9 Equity instruments
An equity instrument is any contract that evidences a residual interest in the assets of the
Group after deducting all of its liabilities. The consideration received from issuing equity
instruments, net of transaction costs, is added to owners’ equity.
All types of distributions made by the Group to holders of equity instruments (excluding stock
dividends) are deducted from owners’ equity. The Group does not recognise changes in the
fair value of equity instruments.
10. Accounts receivable
Individually significant receivables with recognizing bad debt provision individually.
Criterion of individually The Group recognises receivables of over RMB10 million as
significant receivables individually significant receivables.
The Group assesses receivables individually for impairment.
11. Inventories
11.1 Classification of inventories
The Inventories are classified as merchandise, spare parts, consumable items, and food &
beverage, etc. Inventories are initially measured at cost. Cost of inventories comprises all
costs of purchase, costs of conversion and other expenditures incurred in bringing the
inventories to their present location and condition.
11.2 Measurement of the cost of delivered inventories
Upon delivery, the Group uses the first-in, first-out cost formula to assign the actual cost of
inventories, except that the weighted average cost formula is used to assign the actual cost of
spare parts and consumable items of vehicle operating business.
11.3 Recognition of the net realisable value and measurement of provision for decline in value
of inventories
At the balance sheet date, inventories are measured at the lower of cost and net realisable
value. If the cost of inventories is higher than the net realisable value, a provision for decline
in value of inventories is recognised. Net realisable value is the estimated selling price in the
ordinary course of business less the estimated costs of completion and the estimated costs
necessary to make the sale and relevant taxes. The Group shall determine the net realisable
value of inventories based on solid evidence obtained and after taking into consideration the
purpose for which the inventory is held, and the effect of events occurring after the balance
sheet date.
Page 22
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
11. Inventories - continued
11.3 Recognition of the net realisable value and measurement of provision for decline in value
of inventories - continued
The Group determines the provision for decline in value of inventories at the lower of cost and
net realisable value on an item-by-item basis.
After provision for decline in value of inventories has been made, if the circumstances that
previously caused inventories to be written down no longer exist which results in the net
realisable value is higher than the carrying amount, the amount of the write-down is reversed
in profit or loss for the current period; the reversal is limited to the amount originally provided
for the decline in value of inventories.
11.4 The stock count system for inventories
The perpetual inventory system is adopted for stock count.
12. Long-term equity investments
12.1 Recognition of investment cost
For a long-term equity investment acquired through a business combination involving
enterprises under common control, the initial investment cost of the long-term equity
investment is the absorbing party’s share of the carrying amount of the shareholders’ equity of
the party being absorbed at the date of combination. For a long-term equity investment
acquired through business combination not involving enterprises under common control, the
initial investment cost of the long-term equity investment acquired is the cost of acquisition.
The long-term equity investment acquired through means other than a business combination is
initially measured at its cost.
12.2 Subsequent measurement and recognition of profit and loss
12.2.1. A long-term equity investment accounted for using the cost method
Where the Group does not have joint control or significant influence over the investee, the
investment is not quoted in an active market and its fair value cannot be reliably measured, a
long-term equity investment is accounted for using the cost method. A long-term equity
investment where the Group can exercise control over the investee is accounted for using the
cost method. Where an investing enterprise is able to exercise control over the investee, the
investee is a subsidiary of the investing enterprise.
Under the cost method, a long-term equity investment is measured at initial investment cost.
Investment income recognised is limited to the amount distributed to it out of accumulated net
profits of the investee that arose after the investment was made. Any cash dividends or
distributions received in excess of this amount are treated as return of initial investment cost to
reduce the carrying amount of the investment.
Page 23
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
12. Long-term equity investments - continued
12.2 Subsequent measurement and recognition of profit and loss - continued
12.2.2. A long-term equity investment accounted for using the equity method
Where the Group can exercise joint control or significant influence over the investee, a
long-term equity investment is accounted for using the equity method. Where an investing
enterprise is able to exercise significant influence over an investee, the investee is its associate.
Where an investing enterprise can exercise joint control over the investee, the investee is its
jointly controlled enterprise.
Under the equity method, where the initial investment cost of a long-term equity investment
exceeds the Group’s interest in the fair values of the investee’s identifiable net assets at the
acquisition date, no adjustment is made to the initial investment cost. Where the initial
investment cost is less than the Group’s interest in the fair values of the investee’s identifiable
net assets at the acquisition date, the difference is charged to profit or loss for the current
period, and the cost of the long-term equity investment is adjusted accordingly.
Under the equity method, investment income or loss represents the Group’s share of the net
profits or losses made by the investee for the current period. The Group recognises its share of
the investee’s net profits or losses based on the fair values of the investee’s individual
separately identifiable assets at the acquisition date, after making appropriate adjustments
thereto in conformity with the accounting policies and accounting periods of the Group. For
the unrealized profit or loss between the Group and an associate or joint venture, the part
belongs to the Group, calculated with ratio held by the Group, should be offset. Accordingly,
the Group recognizes investment income. But if the unrealized loss is related with an
impairment of the assets transferred between the Group and the investee, the loss cannot be
offset. For any changes in shareholders' equity other than net profits or losses in the investee,
the Group adjusts the carrying amount of the long-term equity investment and includes the
corresponding adjustment in other comprehensive income of capital reserve.
The Group’s share of net losses of the investee is recognised to the extent that the carrying
amount of the long-term equity investment together with any long-term interests that in
substance form part of the investor’s net investment in the investee are reduced to zero. If the
Group has to assume additional obligations, the estimated obligation assumed is provided for
and charged to the profit or loss as investment loss for the period. Where the investee records
profits in subsequent periods, the Group resumes recognising its share of profits after setting
off profits against the unrecognised share of losses.
For a long-term equity investment in an associate or joint venture held prior to first-time
adoption date of new CASs, if an equity investment debit balance associated with the
investment exists, the amount amortised on a straight-line basis during the remaining period is
recognised in profit or loss for the current period.
Page 24
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
12. Long-term equity investments - continued
12.2 Subsequent measurement and recognition of profit and loss - continued
12.2.3 Disposal of a long-term equity investment
On disposal of a long term equity investment, the difference between the proceeds actually
received and the carrying amount is recognised in profit or loss for the current period. For a
long-term equity investment accounted for using the equity method, any changes in the
owners’ equity of the investee (other than net profits or losses) included in the owners’ equity
of the investing enterprise, shall be transferred to profit or loss for the current period on a
pro-rata basis according to the proportion disposed of.
12.3 Criteria for recognition of joint control or significant influence over an investee
“Control” is the power to govern the financial and operating policies of an enterprise so as to
obtain benefits from its operating activities. “Joint control” is the contractually agreed sharing
of control over an economic activity, and exists only when the strategic financial and
operating decisions relating to the activity require the unanimous consent of the parties
sharing control. Where an investing enterprise can exercise joint control over the investee, the
investee is its jointly controlled enterprise. “Significant influence” is the power to participate
in the financial and operating policy decisions of the investee but is not control or joint control
over those policies. Where an investing enterprise is able to exercise significant influence over
an investee, the investee is its associate. When determining whether an investing enterprise is
able to exercise control or significant influence over an investee, the effect of potential voting
rights of the investee (for example, warrants and convertible debts) held by the investing
enterprises or other parties that are currently exercisable or convertible is considered.
12.4 Method of impairment provision of long-term investment
The Group assesses at each balance sheet date whether there is any indication that long-term
equity investments may be impaired. If there is any indication that an asset may be impaired,
the recoverable amount is estimated for the individual asset. If the recoverable amount of an
asset is less than its carrying amount, the difference is recognised as an impairment loss and
charged to profit or loss for the current period.
Once an impairment loss on long-term equity investment is recognised, it is not reversed in a
subsequent period.
Page 25
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
13. Investment property
Investment property is a property held to earn rentals or for capital appreciation or both,
comprising a land use right that is leased out, a building that is leased out etc.
An investment property is initially measured at cost. Subsequent expenditures incurred on an
investment property are recognised as cost of the investment property only when: 1) it is
probable that economic benefits associated with the investment property will flow to the
Group; and 2) the cost of the investment property can be measured reliably. Subsequent
expenditures that fail to meet such recognition criteria is recognised in profit or loss in the
period in which they are incurred.
The Group uses the cost model for subsequent measurement of an investment property, and
adopts the depreciation or amortisation policy consistent with that applicable to buildings or
land use right.
The Group assesses at each balance sheet date whether there is any indication that investment
properties may be impaired. If there is any indication that an asset may be impaired, the
recoverable amount is estimated for the individual asset. If it is not possible to estimate the
recoverable amount of the individual asset, an enterprise shall determine the recoverable
amount of the asset group to which the assets belongs to. If the recoverable amount of an asset
or an asset group is less than its carrying amount, the difference is recognised as an
impairment loss and charged to profit or loss for the current period.
Once an impairment loss on investment properties is recognised, it is not reversed in a
subsequent period.
When an investment property is sold, transferred, retired or damaged, the amount of any
proceeds on disposal net of the carrying amount and related taxes is recognised in profit or
loss for the current period.
14. Fixed assets
14.1 Recognition of fixed assets
Fixed assets are tangible assets that are held for use in the production or supply of services, for
rental to others, or for administrative purposes and have useful lives more than one accounting
year. A fixed asset shall be recognised only when both of the following conditions are satisfied:
(1) it is probable that economic benefits associated with the asset will flow to the enterprise;
and (2) the cost of the asset can be measured reliably. A fixed asset shall be initially measured
at cost.
Subsequent expenditures incurred for a fixed asset that meet the recognition criteria mentioned
in the previous paragraph shall be included in the cost of the fixed asset. Subsequent
expenditures that fail to meet the recognition criteria mentioned in the previous paragraph
shall be recognised in profit or loss in the period in which they are incurred.
Page 26
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
14. Fixed assets - continued
14.2 Depreciation methods
Depreciation is provided to write off the cost of each category of fixed assets over their
estimated useful lives from the month after they are brought to working condition for the
intended use, using the straight-line method. The useful lives, estimated net residual values
rates and annual depreciation rates of each class of fixed assets are as follows:
Useful life Annual
Category of fixed assets Residual value
(years) depreciation rates
Buildings 20-50 years 4-10% 1.8-4.8%
Plant and machinery 5-20 years 4-10% 4.5-19.2%
Electronic equipment, furniture and fixtures 3-10 years 4-10% 9.0-32.0%
Operational vehicles 4-10 years 4-10% 9.0-24%
Other transportation equipment 5-10 years 4-10% 9.0-19.2%
Hotel improvement 5 years - 20%
Estimated net residual value of a fixed asset is the estimated amount that the Group would
currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if
the asset were already of the age and in the condition expected at the end of its useful life.
14.3 Impairment of fixed assets
The Group assesses at each balance sheet date whether there is any indication that fixed assets
may be impaired. If there is any indication that an asset may be impaired, the recoverable
amount is estimated for the individual asset. If it is not possible to estimate the recoverable
amount of the individual asset, the Group determines the recoverable amount of the asset
group to which the asset belongs. If the recoverable amount of an asset or an asset group is
less than its carrying amount, the difference is recognised as an impairment loss and charged
to profit or loss for the current period.
Once any impairment loss on fixed assets is recognised, it is not reversed in a subsequent
period.
14.4 Others
The Group shall review the useful life and estimated net residual value of a fixed asset and the
depreciation method applied at least at each financial year-end. A change in the useful life or
estimated net residual value of a fixed asset or the depreciation method used shall be
accounted for as a change in an accounting estimate.
The carrying amount of a fixed asset shall be derecognised when one of the following
conditions is met: (a) on disposal; or (b) when no future economic benefits are expected to be
generated from its use or disposal. When a fixed asset is sold, transferred, retired or damaged,
the Group recognise the amount of any proceeds on disposal of the asset net of the carrying
amount and related taxes in profit or loss for the current period.
Page 27
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
15. Construction in progress
Construction in progress shall be initially measured at cost including the expenditure actually
incurred for the construction, comprising all expenditure incurred for construction projects,
and other related expenses. Construction in progress is not subject to depreciation.
Construction in progress is reclassified as fixed assets when it has reached working condition
for its intended use.
The Group assesses at each balance sheet date whether there is any indication that
construction in progress may be impaired. If there is any indication that an asset may be
impaired, the recoverable amount is estimated for the individual asset. If it is not possible to
estimate the recoverable amount of the individual asset, the Group determines the recoverable
amount of the asset group to which the asset belongs. If the recoverable amount of an asset
and asset group is less than its carrying amount, the difference is recognised as an impairment
loss and charged to profit or loss for the current period.
Once any loss of asset impairment is recognized, it is not reversed in a subsequent period.
16. Borrowing costs
For borrowing costs that are directly attributable to the acquisition, construction or production
of a qualifying asset, capitalisation of such borrowing costs can commence only when all of
the following conditions are satisfied: (1) expenditures for the asset are being incurred; (2)
borrowing costs are being incurred; and (3) activities relating to the acquisition, construction
or production of the asset that are necessary to prepare the asset for its intended use or sale
have commenced. Capitalisation of such borrowing costs ceases when the qualifying assets
being acquired, constructed or produced become ready for their intended use or sale.
Capitalisation of borrowing costs is suspended during periods in which the acquisition,
construction or production of a qualifying asset is interrupted abnormally and when the
interruption is for a continuous period of more than 3 months, until the acquisition,
construction or production is resumed. The amount of other borrowing costs incurred is
recognised as an expense in the period in which they are incurred.
Where funds are borrowed under a specific-purpose borrowing, the amount of interest to be
capitalised is the actual interest expense incurred on that borrowing for the period less any
bank interest earned from depositing the borrowed funds before being used on the asset or any
investment income on the temporary investment of those funds. Where funds are borrowed
under general-purpose borrowings, the amount of interest to be capitalised on such borrowings
is determined by applying a capitalisation rate to the weighted average of the excess amounts
of cumulative expenditure on the asset over and above the amounts of specific-purpose
borrowings. The capitalisation rate is the weighted average of the interest rates applicable to
the general-purpose borrowings.
Page 28
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
17. Intangible assets
17.1 Intangible assets
Intangible assets include land use right and operational license of taxi.
An intangible asset is initially measured at cost. An intangible asset with a finite useful life is
amortised using the straight-line method over its useful life when the asset is available for use.
An intangible asset with an indefinite useful life is not amortised.
For an intangible asset with a finite useful life, the Group reviews the useful life and
amortisation method at least at each financial year-end, and adjustment shall be made when
necessary.
17.2 Impairment of intangible assets
The Group assesses at each balance sheet date whether there is any indication that intangible
assets with finite useful life may be impaired. If there is any indication that an asset may be
impaired, the recoverable amount is estimated for the individual asset. If it is not possible to
estimate the recoverable amount of the individual asset, the Group determines the recoverable
amount of the asset group to which the asset belongs. If the recoverable amount of an asset or
an asset group is less than its carrying amount, the difference is recognised as an impairment
loss and charged to profit or loss for the current period.
An intangible asset with an indefinite useful life or an intangible asset that is yet to be
available for use is tested for impairment annually, irrespective of whether there is any
indication that the asset may be impaired.
Once any loss of asset impairment is recognized, it is not reversed in a subsequent period.
18. Long-term prepayments
Long-term prepayments are various expenditures incurred but that should be allocated over
the current and future periods of more than one year. Long-term prepayments are evenly
amortised over the respective beneficial period.
19. Revenue
19.1 Revenue from the sale of goods
Revenue from the sale of goods is recognised only when all of the following conditions are
satisfied: (1) the Group has transferred to the buyer the significant risks and rewards of
ownership of the goods; (2) the Group retains neither continuing managerial involvement to
the degree usually associated with ownership nor effective control over the goods sold; (3) the
amount of revenue can be measured reliably; (4) it is probable that the associated economic
benefits will flow to the Group; and (5) the associated costs incurred or to be incurred can be
measured reliably.
Page 29
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
19. Revenue - continued
19.2 Revenue arising from the rendering of services
Where the outcome of a transaction involving the rendering of services can be estimated
reliably, at the balance sheet date, revenue associated with the transaction is recognised using
the percentage of completion method. The stage of completion of a transaction involving the
rendering of services is determined according to the proportion of services performed to date
to the total services to be performed.
Where the outcome of a transaction involving the rendering of services cannot be estimated
reliably, revenue is recognised to the extent of costs incurred that are expected to be
recoverable and the service costs incurred are recognised as expenses for the current period;
where the costs incurred are not expected to be recoverable, no service revenue is recognised.
20. Government grants
Government grants are the transfer of monetary assets or non-monetary assets from the
Government to the Group at no consideration. A government grant shall be recognised only
when both of the following conditions are satisfied: (1) the enterprise can comply with the
conditions attaching to the grant; and (2) the enterprise can receive the grant.
If a government grant is in the form of a transfer of a monetary asset, the item is measured at
the amount received or receivable. If a government grant is in the form of a transfer of a
non-monetary asset, the item is measured at fair value. If fair value is not reliably
determinable, the item is measured at a nominal amount. A government grant measured at a
nominal amount is recognised immediately in profit or loss for the current period.
A government grant related to an asset is recognised as deferred income, and evenly amortised
to profit or loss over the useful life of the related asset.
For a government grant related to income, if the grant is a compensation for related expenses
or losses to be incurred in subsequent periods, the grant is recognised as deferred income, and
recognised in profit or loss over the periods in which the related costs are recognised; if the
grant is a compensation for related expenses or losses already incurred, the grant is recognised
immediately in profit or loss for the current period.
Government compensation for relocation of enterprises for public interest
The Group's result of town planning of governance and other public interests of removal, the
government received direct payments from the fiscal budget for the relocation compensation
payments, as a special payment processing should be. Among them, belonging to the
enterprises in the relocation and reconstruction occurred during the loss of fixed assets and
intangible assets, the cost of expenses, losses and lay-off after the relocation of assets to
compensate for the proposed new, self-specific to be transferred to deferred income payments,
and in accordance with the nature of the assets in accordance with the relevant government
grants and government subsidies and revenue-related accounts, obtain relocation
compensation and deduct the amount transferred to deferred income balance after any,
recognized as capital reserve.
Page 30
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
21. Deferred tax assets and deferred tax liabilities
Tax expense comprises current tax expense and deferred tax expense.
21.1 Current income taxes
At the balance sheet date, current income tax liabilities (or assets) for the current and prior
periods are measured at the amount expected to be paid (or recovered) according to the
requirements of tax laws.
21.2 Deferred tax assets and deferred tax liabilities
Temporary differences arising from the difference between the carrying amount of an asset or
liability and its tax base, or the difference between the tax base and the carrying amount of
those items that are not recognised as assets or liabilities but have a tax base that can be
determined according to tax laws, are recognised as deferred tax assets and deferred tax
liabilities using the balance sheet liability method.
Generally the Group recognises all the temporary difference as deferred tax assets. The
corresponding deferred tax asset for deductible temporary differences is recognized to the
extent that it is probable that taxable profits will be available against which the deductible
temporary differences can be utilized. Deferred tax liabilities are not recognised for taxable
temporary differences related to (1) the initial recognition of goodwill; and (2) the initial
recognition of an asset or liability in a transaction which is neither a business combination nor
affects accounting profit or taxable profit (or deductible loss) at the time of the transaction.
The Group recognises a deferred tax asset for the carry forward of deductible losses and tax
credits to subsequent periods, to the extent that it is probable that future taxable profits will be
available against which the deductible losses and tax credits can be utilised.
An enterprise shall recognise the corresponding deferred tax liability for taxable temporary
differences associated with investments in subsidiaries, associates and joint ventures, except
when both of the following conditions are satisfied: (1) the Group is able to control the timing
of the reversal of the temporary difference; and (2) it is probable that the temporary difference
will not reverse in the foreseeable future. An enterprise shall recognise the corresponding
deferred tax asset for deductible temporary differences associated with investments in
subsidiaries, associates and joint ventures when both of the following conditions are satisfied:
(1) it is probable that the temporary difference will reverse in the foreseeable future; (2) it is
probable that taxable profits will be available in the future, against which the temporary
difference can be utilized. At the balance sheet date, deferred tax assets and deferred tax
liabilities are measured at the tax rates that are expected to apply to the period when the asset
is realised or the liability is settled, according to the requirements of tax laws.
Page 31
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
21. Deferred tax assets and deferred tax liabilities - continued
21.2 Deferred tax assets and deferred tax liabilities - continued
Current tax expense (current tax income) and deferred tax expense (deferred tax income) are
included in profit or loss for the current period, except for: (1) current tax and deferred tax
related to transactions or events that are directly recognised in owners’ equity and other
comprehensive income, which are recognised directly in owners’ equity; (2) deferred tax
arising from a business combination, which is adjusted against the carrying amount of
goodwill.
At the balance sheet date, the Group reviews the carrying amount of a deferred tax asset. If it
is probable that sufficient taxable profits will not be available in future periods to allow the
benefit of the deferred tax asset to be utilised, the carrying amount of the deferred tax asset is
reduced. Any such reduction in amount is reversed when it becomes probable that sufficient
taxable profits will be available.
Current tax assets and liabilities are offset when:
(1)The Group has a legally enforceable right to offset current tax assets against current tax
liabilities; and (2)the Group intends either to settle current tax liabilities and assets on a net
basis, or to realize the assets and settle the liabilities simultaneously.
Deferred tax assets and liabilities are offset when the deferred tax assets and the deferred tax
liabilities relate to income taxes levied by the same taxation authority on:
(1) the same taxable entity; or
(2) different taxable entities which intend either to settle current tax liabilities and assets on a
net basis, or to realize the assets and settle the liabilities simultaneously, in each future period
in which significant amounts of deferred tax liabilities or assets are expected to be settled or
recovered.
22. Leases
A finance lease is a lease that transfers in substance all the risks and rewards incidental to
ownership of an asset. Title may or may not eventually be transferred. An operating lease is a
lease other than a finance lease.
22.1. Recording of operating leases by the Group as lessee
Lease payments under an operating lease is recognised on a straight-line basis over the lease
term. Initial direct costs are charged to profit or loss for the current period. Contingent rents
are charged to profit or loss in the period in which they are actually incurred.
Page 32
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
22. Leases - continued
22.2. Recording of operating leases by the Group as lessor
Lease income from operating leases is recognised in profit or loss on a straight-line basis over
the lease term. Significant initial direct cost are capitalised when incurred and charged to
profit or loss for the responding period according to the same basis for rental income
recognition. Other insignificant initial direct costs are charged to profit or loss for the period
in which they are incurred. Contingent rents are credited to profit or loss in the period in
which they actually arise.
23. Significant changes of accounting policies and accounting estimates
China Accounting Standards Interpretation No. 4 issued by the Ministry of Finance in 2010
has no significant influence over the Group's financial statements during this year.
24. Other changes of accounting policies and accounting estimates
24.1 Employee benefits
In the accounting period in which an employee has rendered services except for compensation
to employees for termination of employment relationship, the Group recognises the employee
benefits for those services as a liability.
Expenditures related to payments for employees' social welfare system established by the state,
including pensions, medical insurance, housing funds and other social welfare contributions,
are included in the cost of related assets or profit or loss for the period in which they are
incurred.
When the Group terminates the employment relationship with employees before the end of the
employment contracts or provides compensation as an offer to encourage employees to accept
voluntary redundancy, if the Group has a formal plan for termination of employment
relationship or has made an offer for voluntary redundancy which will be implemented
immediately, and at the same time the Group cannot unilaterally withdraw from the
termination plan or the redundancy offer, a provision is recognised for the compensation
arising from termination of employment relationship with employees, with a corresponding
charge to the profit or loss for the current period.
Page 33
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
II. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
25. Basis of determining significant accounting policies and key assumptions and
uncertainties in accounting estimates
In the application of the Group’s accounting policies, the Group is required to make
judgements, estimates and assumptions about the carrying amounts of items in the financial
statements that cannot be measured accurately. These judgements, estimates and assumptions
are based on historical experience of the Group's management as well as other factors that are
considered to be relevant. Actual results may differ from these estimates.
The aforementioned judgements, estimates and assumptions are reviewed regularly on a going
concern basis. Revisions to accounting estimates are recognised in the period in which the
estimate is revised if the revision affects only that period, or in the period of the revision and
future periods if the revision affects both current and future periods.
- Critical judgements in applying accounting policies
The operational license of World Expo Taxi
According to the Bid-Winning Notice from Shanghai municipal Bureau of Transport and port
management, the Group has acquired the operational licenses of World Expo Taxis from the
government in 2010. Based on the tender documents and the Agreement between the Group
and the government, the management of the Group believes that the operational licenses of
World Expo Taxis, which are licenses during a certain required operational, should not be
accounted for intangible assets as other licenses of taxis purchased from the normal channel.
- Key assumptions and uncertainties in accounting estimates
The following are the critical judgements that the Group has made in the process of applying
the accounting policies and that have the most significant effect on the amounts recognised in
financial statements.
The useful life of the operational license of taxi
The useful year of the operational license of taxi held by the Group will not be expired. The
Group management believes the operational license of taxi will be in use and bring in
expected inflow economical benefits in the foreseeable future. Therefore its useful life is
infinite. The management assess at each balance sheet date whether there is any indication that
the operational license of taxi may be impaired.
Page 34
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
III. TAXES
1. Taxes and tax rate
Taxes Tax basis Tax rate
Value added tax Value added tax (“VAT”) payable is VAT output deducting VAT input. 17%
Deemed taxi operating income and long distance transportation
3%
income.
Business tax 3%
Other vehicle operating income.
5%
Other service income.
See
Income tax Taxable income
below
Urban maintenance
Turnover tax 7%
and construction tax
Education additional
Turnover tax 3%
tax
River management fee Turnover tax 1%
According to the Law of the People’s Republic of China on Enterprise Income Tax published on
16 March 2007, the origin income tax rate of the Company is 25% from 1 January 2008. The
Company is located in Shanghai Pudong New Area and the effective income tax rates of the
Company for the coming years are listed as below:
Actual
income tax rate
Year 2008 18%
Year 2009 20%
Year 2010 22%
Year 2011 24%
Year 2012 and after 25%
The following subsidiaries were registered in Pudong New Area, thus the effective income tax
rate of these companies for this year is 22%.
Company names Actual income tax rate in 2010
Shanghai Jin Jiang Automobile Service Co., Ltd. 22%
Shanghai JHJ Logistic Management Co., Ltd. 22%
Shanghai Jinjiang International Cold Logistics Development Co., Ltd. 22%
Shanghai Jin Jiang Business and Travel Auto Services Co., Ltd. 22%
Shanghai Pudong Friendship Automobile Services Co., Ltd. 22%
Shanghai Jin Jiang Automobile Leasing Co., Ltd. 22%
Shanghai Jinjia Automobile Trading Co., Ltd. 22%
Shanghai Jin Jiang Public Traffic Co., Ltd. 22%
The Company's subsidiary Shanghai Nanpu Bridge Food Wholesale Market Management Co., Ltd.
qualifies as a small-scale enterprise with minimal profits, as approved by Notice of Advance
Record of Preferential Corporate Income Tax, 310101100600834-3 issued by Shanghai Huangpu
District State Tax Bureau the Fifth Office, will be subjected to the reduced enterprise income tax
rate of 20%.Small low-profit enterprises
Except for the following subsidiaries, the income tax rate of other subsidiaries is 25%.
Page 35
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
IV. SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS
1. Subsidiaries
(1) Subsidiaries set up or invested by the Group
Unit: RMB
The amount
of current
year loss
contributed
to minority
shareholders
in excess of
the
shareholders’
equity
contributed
to minority
The amount shareholders
of minority at the
Balances of interests beginning of
other items balances that the year, that
actually have been have been
constitute Proportion offset by offset in the
the net of voting Included in minority shareholders’
Place of investment Share power held consolidated interest equity of the
incorporatio Legal Nature of The Group's actual in the proportion by the financial Minority profit and parent
Name Type n representative business Registered capital Business scope investment at year end subsidiaries (%) entity (%) statements interests loss company
Shanghai JHJ Limited Shanghai Yang Yuan-Ping Service 80,000,000.00 Logistic management 52,000,000.00 - 65 The same Yes 83,342,769.37 - -
Logistic company as the
Management Co., shares
Ltd.
Shanghai Jinjiang Limited Shanghai Zhang Guo-Mei Warehousing 75,000,000.00 Logistic management 75,000,000.00 - 100 The same Yes - - -
International Cold company as the
Logistics shares
Development Co.,
Ltd.("Cold
Logistics") (Note 2)
Dalian Jin Jiang Limited Dalian Shen Transportation 5,000,000.00 Car rental 5,000,000.00 - 100 The same Yes - - -
Automobile Rental company Zheng-Dong as the
Co., Ltd. shares
Shanghai Jin Jiang Limited Shanghai Yu Guo-Fu Transportation 5,000,000.00 Driver training 5,000,000.00 - 100 The same Yes - - -
Automobile Driver company as the
Training Co., Ltd. shares
Shanghai Jin Jiang Yi Limited Shanghai Han Hui-Tian Trading 5,000,000.00 Car trading 5,000,000.00 - 100 The same Yes - - -
Ma Automobile Sales company as the
Co., Ltd. shares
Shanghai Shang Hai Limited Shanghai Ding Zhi-Liang Food package 25,000,000.00 Food pre-packaging 25,000,000.00 100 The same Yes
Food Co., Ltd. . company as the
(Note 2) shares
Page 36
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
IV. SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS - continued
1. Subsidiaries - continued
(2) Subsidiaries acquired through a business combination involving enterprises under common control
Unit: RMB
The amount
of current
year loss
contributed to
minority
shareholders
in excess of
the
shareholders’
equity
contributed to
minority
The amount shareholders
of minority at the
Balances of interests beginning of
other items balances the year, that
actually that have have been
constitute been offset offset in the
the net Proportion of Included in by minority shareholders’
The Group's actual investment Share voting power consolidate interest equity of the
Place of Legal Nature of Registered investment at year in the proportion held by the d financial Minority profit and parent
Name Type incorporation representative business capital Business scope end subsidiaries (%) entity (%) statements interests loss company
Shanghai Jin Jiang Limited Shanghai Rong Ping-Tao Transportation 338,486,272.11 Taxi service and 538,135,811.60 - 95 The same as Yes 44,388,407.89 - -
Automobile Service company car rental service the shares
Co., Ltd. (Jin Jiang
Automobile)
Shanghai Jin Jiang Limited Shanghai Rong Ping-Tao Transportation 70,000,000.00 Bus services and 104,170,372.98 - 80 The same as Yes 29,234,263.40 - -
Business and Travel company consulting the shares
Auto Services Co.,
Ltd.
Shanghai Pacific Limited Shanghai Rong Ping-Tao Transportation 2,000,000.00 Coach Service 2,000,000.00 - 100 The same as Yes - - -
Passenger Transport company the shares
Service Co., Ltd.
Shanghai Jin Jiang Limited Shanghai Xu Wen-Zhong Transportation 10,000,000.00 Coach Service 10,000,000.00 - 100 The same as Yes - - -
High-speed company the shares
Transportation Co.,
Ltd.
Shanghai Business Limited Shanghai Rong Ping-Tao Consulting and 16,000,000.00 Investment and 16,000,000.00 - 100 The same as Yes - - -
and Travel company management management the shares
Investment service
Consulting Co., Ltd.
Shanghai Pudong Limited Shanghai Wu Xiao-Guo Transportation 5,610,000.00 Taxi service and 4,927,263.00 - 87.83 The same as Yes 2,804,470.49 - -
Friendship company car rental service the shares
Automobile Service
Co., Ltd.
Shanghai Jin Jiang Limited Shanghai Shen Zheng-Dong Rental service 3,300,000.00 Car rental 3,300,000.00 - 100 The same as Yes - - -
Automobile Leasing company the shares
Co., Ltd.
Shanghai Zhong You Limited Shanghai Weng Zhi-Xiong Service 2,000,000.00 Gas & oil service 3,800,000.00 - 76 The same as Yes 2,439,944.74 - -
Jin You Oil Products company the shares
Co., Ltd.
Page 37
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
IV. SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS - continued
1. Subsidiaries - continued
(2) Subsidiaries acquired through a business combination involving enterprises under common control - continued
Unit: RMB
The amount
of current
year loss
contributed
to minority
shareholders
in excess of
the
shareholders
’ equity
contributed
to minority
shareholders
The amount at the
Balances of of minority beginning of
other items interests the year, that
actually balances that have been
constitute Proportion have been offset in the
the net of voting Included in offset by shareholders
The Group's investment Share power held consolidated minority ’ equity of
Place of Legal Nature of Registered actual investment in the proportion by the entity financial Minority interest profit the parent
Name Type incorporation representative business capital Business Scope at year end subsidiaries (%) (%) statements interests and loss company
Shanghai Jiading Jin Limited Shanghai Yu Guo-Fu Transportation 5,000,000.00 Taxi service 3,500,000.00 - 70 The same as Yes 2,671,827.83 - -
Jiang Automobile company the shares
Services Co., Ltd.
Shanghai Jin Jia Limited Shanghai Shi Gen-Chang Trading 10,100,000.00 Car trading 10,100,000.00 - 100 The same as Yes - - -
Automobile Trading company the shares
Co., Ltd.
Shanghai Toyota Limited Shanghai Hua Qing-Jian Trading 10,000,000.00 Car trading 7,000,000.00 - 70 The same as Yes 5,288,549.51 - -
Automotive Sales Co., company the shares
Ltd.
Shanghai Jinzhen Limited Shanghai Yu Guo-Fu Service 800,000.00 Electronics 800,000.00 - 100 The same as Yes - - -
Electronics Technology company the shares
Co., Ltd.
Shanghai Colorful Day Limited Shanghai Yu Guo-Fu Advertisement 800,000.00 Advertising 640,000.00 - 80 The same as Yes 317,810.51 - -
Advertising Co., Ltd. company the shares
Shanghai Toyota Limited Shanghai Ding Yue-Hua Service 850,000.00 Car repairment 850,000.00 - 100 The same as Yes - - -
Automobile Repair Co., company the shares
Ltd.
Shanghai Zhenxing Limited Shanghai Wu Xiao-Guo Management 100,000.00 Taxi 100,000.00 - 100 The same as Yes - - -
Taxi Management Co., company management the shares
Ltd.
Shanghai Jinyue Limited Shanghai Ding Yue-Hua Consulting and 300,000.00 Automobile 300,000.00 - 100 The same as Yes - - -
Automobile Consulting company management service the shares
Co., Ltd.
Page 38
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
IV. SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS - continued
1. Subsidiaries - continued
(2) Subsidiaries acquired through a business combination involving enterprises under common control - continued
Unit: RMB
The amount
of current
year loss
contributed
to minority
shareholders
in excess of
the
shareholders
’ equity
contributed
to minority
shareholders
The amount at the
Balances of of minority beginning of
other items interests the year, that
actually balances that have been
constitute the Proportion have been offset in the
The Group's net of voting Included in offset by shareholders
actual investment in Share power held consolidated minority ’ equity of
Place of Legal Nature of Registered investment at the proportion by the financial Minority interest profit the parent
Name Type incorporation representative business capital Business scope year end subsidiaries (%) entity (%) statements interests and loss company
Shanghai Jinmao Limited Shanghai Gong Wen-Kai Trading 10,200,000.00 Car trading 5,100,000.00 - 50 >50 Yes 9,531,287.49 - -
Automobile company (Note 1)
Distribution and
Services Co., Ltd.
Shanghai Jinyong Limited Shanghai Han Hui-Tian Service 10,000,000.00 Car repairment 8,000,000.00 - 80 The same as Yes 2,081,867.50 - -
Automobile Repair company the shares
Service Co., Ltd.
Shanghai Nanpu Bridge Limited Shanghai Ding Zhi-Liang Management 300,000.00 Food trading 300,000.00 - 100 The same as Yes - - -
Food Wholesale Market company the shares
Management Co., Ltd.
Shanghai Wujing Limited Shanghai He Wei-Guang Warehousing 50,000,000.00 Food storage 96,400,305.12 - 100 The same as Yes - - -
Refrigerated Co., Ltd. company the shares
Shanghai Wusong luoji Limited Shanghai Cen Jian-Rong Transportation 8,250,000.00 Logistics 8,250,000.00 - 100 The same as Yes - - -
Refrigerated Co., Ltd. company the shares
Page 39
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
IV. SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS - continued
1. Subsidiaries - continued
(3) Subsidiaries acquired through a business combination involving enterprises not under common control
Unit: RMB
The amount of current
year loss contributed
to minority
The amount of shareholders in excess
Balances of minority of the shareholders’
other items interests equity contributed to
actually balances that minority shareholders
constitute have been at the beginning of the
the net Proportion of Included in offset by year, that have been
The Group's investment Share voting power consolidated minority offset in the
Place of Legal Nature of Registered actual investment in the proportion held by the financial Minority interest profit shareholders’ equity of
Name Type incorporation representative business capital Business scope at year end subsidiaries (%) entity (%) statements interests and loss the parent company
Shanghai Jin Jiang Limited Shanghai Yu Guo-Fu Transportation 2,220,000.00 Taxi service 10,262,906.00 - 100 The same as Yes - - -
Yaohua Taxi company the shares
Services Co., Ltd.
Note 1: According to this subsidiary’s Articles of Association, the Group holds more than 50% of the voting power.
Note 2: Shanghai Shang Hai Food Co., Ltd. has been separated from Cold Logistics this year. After the separation, the registered capital of Cold
Logistics is reduced to RMB75 million from RMB100 million, and the registered capital of the newly established Shanghai Shang Hai
Food Co., Ltd. is RMB25 million.
Page 40
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
1. Currency funds
Unit: RMB
2010 2009
Exchange Exchange
Item Foreign Currency rate RMB Foreign Currency rate RMB
Cash:
RMB 554,266.49 1.0000 554,266.49 394,607.62 1.0000 394,607.62
Cash deposit:
RMB 734,116,329.12 1.0000 734,116,329.12 548,679,801.59 1.0000 548,679,801.59
USD 3,455,486.35 6.6227 22,884,649.45 - - -
JPY - - -
Total -- -- 757,555,245.06 -- -- 549,074,409.21
2. Dividends receivable
Unit: RMB
Balance at Balance at end of
Item Additions Reductions
beginning of year year
Aging within 1 year
Including: (1) Shanghai Nissan Maintenance Center - 266,053.65 - 266,053.65
(2) Shanghai Jinmao Jin Jiang Automobile Services Co., Ltd. 2,700,000.00 2,550,000.00 (2,700,000.00) 2,550,000.00
(3) Shanghai Jin Jiang Sheshan Automobile Co., Ltd. 1,332,616.79 1,025,990.12 (1,332,616.79) 1,025,990.12
Aging more than one year
Including: (1) Shanghai Nissan Maintenance Center 8,220.08 - - 8,220.08
Total 4,040,836.87 3,842,043.77 (4,032,616.79) 3,850,263.85
3. Accounts receivable
(1) Disclosure of accounts receivable by categories:
The Group considers accounts receivable over RMB10 million as individually significant
accounts.
The balance of accounts receivable at year end are all individually insignificant receivables but
recognizing bad debt individually by categories.
The aging analysis of account receivable is as follows:
Unit: RMB
2010 2009
Bad debt Carrying Bad debt Carrying
Aging Amount Proportion(%) provision amount Amount Proportion(%) provision amount
Within 1 year 41,275,033.76 100 (447,495.38) 40,827,538.38 38,746,776.17 100 (350,514.84) 38,396,261.33
Total 41,275,033.76 100 (447,495.38) 40,827,538.38 38,746,776.17 100 (350,514.84) 38,396,261.33
(2) Disclosure of accounts receivable from shareholders holding over 5% (inclusive) of the Group
shares.
Unit: RMB
Name 2010 2009
Amount Proportion (%) Amount Proportion (%)
Jin Jiang International
11,000.00 - 34,707.00 -
(Group) Co., Ltd.
Total 11,000.00 - 34,707.00 -
Page 41
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
3. Accounts receivable - continued
(3) Top five clients
Unit: RMB
Name Relationship with group Amount Aging Proportion (%)
Client 1 Third party 9,872,565.00 Within 1 year 24
Client 2 Third party 4,520,254.58 Within 1 year 11
Client 3 Third party 815,976.75 Within 1 year 2
Client 4 Third party 586,672.00 Within 1 year 1
Client 5 Third party 568,622.50 Within 1 year 1
Total -- 16,364,090.83 -- 39
(4)Accounts receivable of related party
Details please refer to Note VI 6.
4. Other receivables
(1) By categories:
Unit: RMB
2010 2009
Carrying amount Bad debt provision Carrying amount Bad debt provision
Category Amount Proportion(%) Amount Proportion(%) Amount Proportion(%) Amount Proportion(%)
Individually
- - 29,355,441.75 54 - -
significant receivables
Individually
insignificant receivables
28,194,011.42 100 (30,455.65) 100 24,515,366.95 46 (4,712.61) 100
but recognizing bad
provision individually
Total 28,194,011.42 100 (30,455.65) 100 53,870,808.70 100 (4,712.61) 100
The Group considers other receivables over 10 million as individually significant accounts.
The balance of other receivables at year end are all individually insignificant receivables but
recognizing bad debt individually by categories.
The aging analysis of other receivables is as follows:
Unit: RMB
2010 2009
Bad debt Bad debt
Aging Amount Proportion(%) provision Carrying amount Amount Proportion(%) provision Carrying amount
Within 1 year 23,322,641.43 83 (30,455.65) 23,292,185.78 50,255,501.68 93 (4,712.61) 50,250,789.07
1-2 years 3,184,832.97 11 - 3,184,832.97 2,652,243.12 5 - 2,652,243.12
2-3 years 1,210,210.11 4 - 1,210,210.11 740,802.45 1 - 740,802.45
Above 3 years 476,326.91 2 - 476,326.91 222,261.45 1 - 222,261.45
Total 28,194,011.42 100 (30,455.65) 28,163,555.77 53,870,808.70 100.00 (4,712.61) 53,866,096.09
(2) There are no other receivables from shareholders holding over 5% (inclusive) of the Group
shares.
Page 42
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
4. Other receivables - continued
(3)Top five entities
Unit: RMB
Name Relationship with group Amount Aging Proportion (%)
Shanghai Jin Jiang
Automobile Sales Co., Ltd. Associate 5,445,006.00 Within one year 19
Entity 2 Third party 2,372,177.27 Within one year 8
Entity 3 Third party 1,946,603.97 Within one year 7
Entity 4 Third party 800,000.00 Within one year 3
Entity 5 Third party 687,500.00 Within one year 3
Total -- 11,251,287.24 -- 40
(4) Other receivables of related party.
Details please refer to Note VI 6.
5. Advances to suppliers
(1) The aging analysis of advances to suppliers is as follows:
Unit: RMB
Aging 2010 2009
Amount Proportion (%) Amount Proportion (%)
Within 1 year 69,163,662.16 100 56,922,816.63 100
Total 69,163,662.16 100 56,922,816.63 100
(2) Top five suppliers
Unit: RMB
Relationship
Name Amount Aging Nature
with group
Supplier 1 Prepayments for car
Third party 18,073,800.00 Within 1 year
and license
Supplier 2 Prepayments for car
Third party 16,294,200.00 Within 1 year
and license
Shanghai Jin Jiang
Associate 6,098,134.00 Within 1 year Prepayments for car
Automobile Sales Co., Ltd.
Supplier 4 Third party 5,889,675.72 Within 1 year Prepayments for car
Supplier 5 Third party 4,840,996.16 Within 1 year Prepayments for car
Total -- 51,196,805.88 -- --
(3) There are no advances to suppliers who are shareholders holding over 5% (inclusive) of the
Company shares.
(4) Disclosure of advances to suppliers by supplier categories is as follows:
Unit: RMB
Categories 2010 2009
Individually significant payments 34,368,000.00 33,596,755.40
Other insignificant payments 34,795,662.16 23,326,061.23
Total 69,163,662.16 56,922,816.63
The Group considers the advances to suppliers over 10 million as individually significant
payments.
Page 43
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
6. Inventories
By categories
Unit: RMB
2010 2009
Provision
Provision for the
for the decline in
decline in Carrying value of Carrying
Item Cost value amount Cost inventories amount
Merchandise 39,203,300.27 - 39,203,300.27 35,345,781.28 - 35,345,781.28
Spare parts 11,141,102.12 - 11,141,102.12 9,456,209.82 - 9,456,209.82
Consumable items 997,357.29 - 997,357.29 143,391.75 - 143,391.75
Food and beverages 416,267.22 - 416,267.22 741,506.02 - 741,506.02
Total 51,758,026.90 - 51,758,026.90 45,686,888.87 - 45,686,888.87
7. Non-current assets due within one year
Unit: RMB
Item 2010 2009
Long-term loan receivables (Note) 4,230,666.67 4,230,666.67
Note: Details please refer to Note V, 17, Note 2.
8. Available-for-sale financial assets
Unit: RMB
Item 2010 Fair value 2009 Fair value
Available-for-sale equity instruments 103,730,453.50 160,853,050.30
Available-for-sale financial assets are other listed companies' stocks held by the Group. The 2010
fair value was recognised based on year end market share price.
Page 44
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
9. A list of joint ventures and associates and their key financial information
Unit: RMB
Proportion of Proportion
ownership of voting Investee's total Investee's total Investee's net
Country of Legal Nature of interest held by power held Investee's total liabilities at year Investee's total net operating income profit for the
Investee Type incorporation Representative business Registered capital the entity (%) by the entity assets at year end end assets at year end for the current year current year
Joint venture
Shanghai Zhengdong Sino-foreign equity Shanghai Zhu Ming Hua Transportation USD7,900,000.00 50 the same as 85,228,479.41 9,944,892.99 75,283,586.42 43,269,205.95 10,219,135.77
Automobile Services Co., Ltd. joint venture the shares
Shanghai Jinmao Jin Jiang Limited company Shanghai Wu Lin Transportation 22,000,000.00 50 the same as 71,865,627.31 15,457,220.24 56,408,407.07 43,613,492.32 6,298,697.27
Automobile Services Co., Ltd. the shares
Shanghai Dazhong New Asia Limited company Shanghai Rong Ping Tao Transportation 30,000,000.00 49.5 50 192,213,143.03 30,899,527.62 161,313,615.41 120,544,191.33 20,495,577.83
Co., Ltd.
JHJ International Sino-foreign equity Shanghai Yang Yuan Ping Transportation USD10,000,000.00 50 the same as 640,127,300.33 410,732,931.39 229,394,368.94 2,427,525,338.82 28,572,727.08
Transportation Co., Ltd. joint venture the shares
Shanghai Jing Jiang Jiayou Limited company Shanghai Yu Guo Fu Transportation 24,700,000.00 50 the same as 64,856,168.83 13,811,972.77 51,044,196.06 47,678,724.75 6,132,612.61
Automobile Services Co., Ltd. the shares
Shanghai Vehicle Driver State-joint venture Shanghai Xu Shu Ren Services 33.33 the same as 137,932,336.32 19,797,142.38 118,135,193.94 57,646,444.53 17,516,696.37
4,340,000.00
Training Centre the shares
Shanghai Jin Jiang Sheshan Limited company Shanghai Ma Qi Feng Transportation 1,000,000.00 50 the same as 17,305,791.70 5,280,623.35 12,025,168.35 14,272,760.90 2,279,978.05
Automobile Co., Ltd. the shares
Shanghai Petrol Group Changle Limited company Shanghai Wang Zhi Qiang Services 300,000.00 50 the same as 3,678,405.12 1,863,796.24 1,814,608.88 32,292,855.09 1,002,902.87
Gas Station Co., Ltd. the shares
Shanghai Wanguo Automobile State-joint venture Shanghai Zhang Yue Hua Services 20,000,000.00 50 the same as 73,676,605.04 9,543,024.75 64,133,580.29 33,962,315.66 5,316,516.80
Driver Training Center the shares
Shanghai Nissan Maintenance State-joint venture Shanghai Zhang Jian Hua Services 2,918,000.00 50 the same as 14,650,513.52 6,186,274.57 8,464,238.95 4,823,472.42 (1,215,853.69)
Center the shares
Shanghai Yongda Secondhand Limited company Shanghai Han Hui Tian Trading 9,000,000.00 50 the same as 8,206,464.99 12,766.25 8,193,698.74 251,260.00 (381,547.22)
Automobile Services Co., Ltd. the shares
Associate
Nanjing Long Distance Limited company Nanjing Tian Ji Ren Transportation 110,000,000.00 23 963,262,853.57 657,464,586.19 305,798,267.38 694,859,089.66 29,846,455.14
the same as
Passenger Terminal Group Co.,
the shares
Ltd.
Shanghai Pudong International Sino-foreign equity Shanghai Chen Long Transportation 311,610,000.00 20 1,206,684,161.94 121,553,288.64 1,085,130,873.30 869,911,035.40 484,100,709.15
the same as
Airport Cargo Terminal Co., joint venture
the shares
Ltd.
Shanghai Yongda Fengdu Limited company Shanghai Zhu Jian Hua Trading 15,000,000.00 40 75,957,051.54 40,667,689.88 35,289,361.66 310,108,055.51 4,716,001.43
Automobile Distribution and the same as
Services Co., Ltd. the shares
Shanghai Jin Jiang Passenger Limited company Shanghai Hua Qing Jian Transportation 10,000,000.00 30 the same as 37,438,997.40 11,434,246.55 26,004,750.85 20,969,391.00 10,008,680.49
Transport Co., Ltd. the shares
Shanghai Jin Jiang Automobile Limited company Shanghai Yuan Zhe Ning Trading 5,000,000.00 30 the same as 68,459,085.04 56,815,401.98 11,643,683.06 393,138,442.95 5,001,357.99
Sales Co., Ltd. the shares
Page 45
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10. Long-term equity investments
(1) Details of long-term equity investments are as follows:
Unit: RMB
Proportion Explanation of
of the voting right
ownership not consistent
interest with proportion Provision for Impairment
Accounting Initial Opening held by the Proportion of voting of ownership impairment loss for the Cash dividends
Investee method investments balance Changes Closing balance entity (%) power held by the entity interest loss year for the year
Shanghai Nissan Maintenance Center Equity method 5,643,011.57 5,900,677.34 (898,604.62) 5,002,072.72 50 the same as the shares - - 266,053.65
Shanghai Wanguo Automobile Driver Training 42,105,806.17 40,575,633.64 (910,230.29) 39,665,403.35
Equity method 50 the same as the shares - - 1,952,295.00
Center
Shanghai Vehicle Driver Training Centre Equity method 33,105,611.21 31,426,720.56 1,119,903.14 32,546,623.70 33.33 the same as the shares - - 3,000,000.00
Shanghai Zhendong Automobile Services Co., Ltd. Equity method 21,211,895.00 39,251,933.00 (1,629,030.37) 37,622,902.63 50 the same as the shares - - 5,705,373.71
Shanghai Jinmao Jin Jiang Automobile Services 16,940,000.00 27,591,663.63 599,348.67 28,191,012.30
Equity method 50 the same as the shares - - 2,550,000.00
Co., Ltd.
Shanghai Dazhong New Asia Co., Ltd. Equity method 84,628,129.42 100,937,251.82 (2,159,769.64) 98,777,482.18 49.50 50 Note 1 - - 11,650,016.27
JHJ International Transportation Co., Ltd. Equity method 40,254,477.70 113,410,820.93 1,515,896.15 114,926,717.08 50 the same as the shares - - 13,000,000.00
Shanghai Yongda Fengdu Automobile Distribution 6,000,000.00 12,229,344.09 1,886,400.57 14,115,744.66
Equity method 40 the same as the shares - - -
and Services Co., Ltd.
Shanghai Yongda Secondhand Automobile Services 4,500,000.00 4,287,622.95 (190,773.64) 4,096,849.31
Equity method 50 the same as the shares - - -
Co., Ltd.
Shanghai Jin Jiang Passenger Transport Co., Ltd. Equity method 3,000,000.00 7,317,952.98 483,472.32 7,801,425.30 30 the same as the shares - - 2,519,131.84
Shanghai Jin Jiang Automobile Sales Co., Ltd. Equity method 1,500,000.00 2,579,743.41 968,547.13 3,548,290.54 30 the same as the shares - - 531,860.27
Shanghai Jin Jiang Jiayou Automobile Services Co., 14,614,900.00 23,898,963.71 1,623,134.36 25,522,098.07
Equity method 50 the same as the shares - - 1,443,171.96
Ltd.
Shanghai Jin Jiang Sheshan Automobile Co., Ltd. Equity method 500,000.00 5,898,585.39 113,998.95 6,012,584.34 50 the same as the shares - - 1,025,990.12
Shanghai Petrol Group Changle Gas Station Co., 150,000.00 460,571.03 446,733.56 907,304.59
Equity method 50 the same as the shares - - 54,717.92
Ltd.
Nanjing Long Distance Passenger Terminal Group 25,300,000.00 32,587,752.11 3,920,835.24 36,508,587.35
Equity method 23 the same as the shares - - 3,036,000.00
Co., Ltd.
Shanghai Pudong International Airport Cargo 63,130,065.07 163,305,429.23 53,720,745.43 217,026,174.66
Equity method 20 the same as the shares - - 43,114,986.98
Terminal Co., Ltd.
Shilian Jin Jiang Logistics Co., Ltd. (Note 2) Equity method 3,012,675.00 - - - -- the same as the shares - - -
Sofitel Jin Jiang Oriental Hotel (Note 3) Cost method 16,555,237.81 16,555,237.81 (16,555,237.81) - -- the same as the shares - - -
Shanghai Global Paper Production Co., Ltd. Cost method 746,253.00 746,253.00 - 746,253.00 10 the same as the shares 746,253.00 - -
Guotai Junan Securities Co., Ltd. Cost method 47,649,967.00 47,649,967.00 - 47,649,967.00 <=5 the same as the shares - - 4,764,996.70
Guotai Junan Investment Management Co., Ltd. Cost method 31,974,279.24 31,974,279.24 - 31,974,279.24 <=5 the same as the shares 2,500,000.00 - -
Shanghai Guojia Industry Co., Ltd. Cost method 650,000.00 650,000.00 - 650,000.00 <=5 the same as the shares 650,000.00 - -
Shandong Guo Tai Co., Ltd. Cost method 555,000.00 555,000.00 - 555,000.00 <=5 the same as the shares 555,000.00 - -
Shanghai South Station Long Distance Passenger 7,500,000.00 7,500,000.00 - 7,500,000.00
Cost method 10 the same as the shares - - 2,414,609.91
Terminal Co., Ltd.
Shanghai New Century Freight Co., Ltd. Cost method 2,240,000.00 2,240,000.00 - 2,240,000.00 11.20 the same as the shares - - 1,009,775.42
Tianjin Hualian Commercial Building Co., Ltd. Cost method 468,000.00 468,000.00 - 468,000.00 <=5 the same as the shares 468,000.00 - -
Total － 473,935,308.19 719,999,402.87 44,055,369.15 764,054,772.02 -- -- -- 4,919,253.00 - 98,038,979.75
Page 46
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10. Long-term equity investments - continued
(1) Details of long-term equity investments are as follows: - continued
Note 1: According to the Articles of Association, the Group can hold 50% of the voting power on
this entity.
Note 2: The Company has finished its industry and commerce cancellation of registration this
year.
Note 3: During the year, the Group has transferred 1.87% of its interest in Sofitel Jin Jiang
Oriental Hotel to the Jin Jiang International (Group) Co., Ltd. at the consideration of
RMB17,583,797.00, and the investment income occurred is RMB1,011,279.19.
For long-term equity investments held by the Group on December 31, 2010, the investee's ability
to transfer funds to the Group is not restricted.
11. Investment property
(1) Investment property measured using the cost model
Unit: RMB
December 31,
Item January 1, 2010 Additions Reductions 2010
I.Cost 40,148,721.51 - - 40,148,721.51
1.Buildings 27,201,946.71 - - 27,201,946.71
2. Land use right 12,946,774.80 - - 12,946,774.80
II.Accumulated depreciation and
accumulated amortisation 5,054,644.93 771,759.24 - 5,826,404.17
1.Buildings 4,274,291.41 511,050.24 - 4,785,341.65
2.Land use right 780,353.52 260,709.00 - 1,041,062.52
III.Net 35,094,076.58 - - 34,322,317.34
1.Buildings 22,927,655.30 - - 22,416,605.06
2.Land use right 12,166,421.28 - - 11,905,712.28
IV.Provision for impairment loss - - - -
1.Buildings - - - -
2.Land use right - - - -
V.Net book value 35,094,076.58 - - 34,322,317.34
1.Plant and buildings 22,927,655.30 - - 22,416,605.06
2.Land use right 12,166,421.28 - - 11,905,712.28
Provided for this year is amounted to RMB771,759.24.
(2) Investment property with no certificates
The certificate of the investment property of Shanghai Shang Hai Food Co., Ltd with net book
value of RMB1,406,670.27(2009: Nil) is not updated. The owner of the certificate is Shanghai
Jinjiang International Cold Logistics Development Co., Ltd.
Unit: RMB
Item Value of the Reason for not having Estimated date for
building certificates obtaining certificates
Floor 18th No.115, Yuntai Road, 1,406,670.27 The relevant updating --
Building of Shanghai Shang Hai procedures are still in
Food Co., Ltd. process.
Page 47
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Fixed assets
(1)Fixed assets
Unit: RMB
Item January 1, 2010 Additions Reductions December 31, 2010
I.Cost: 1,678,307,187.72 411,898,818.10 (186,054,009.93) 1,904,151,995.89
Including: Buildings 154,732,612.72 44,967,821.24 (150,720.55) 199,549,713.41
Plant and machinery 45,366,348.20 16,452,888.72 (4,123,032.19) 57,696,204.73
Electronic equipment,
furniture and fixture 25,647,159.88 1,179,895.64 (1,007,507.06) 25,819,548.46
Operational vehicles 1,438,293,782.56 348,786,606.50 (180,566,993.33) 1,606,513,395.73
Other transportation 10,374,599.05 377,223.00 (205,756.80) 10,546,065.25
Hotel improvement 3,892,685.31 134,383.00 - 4,027,068.31
II. Accumulated depreciation: 929,723,330.53 224,656,183.40 (160,190,257.47) 994,189,256.46
Including: Buildings 55,374,970.92 7,194,763.67 (125,636.90) 62,444,097.69
Plant and machinery 26,954,278.30 3,814,423.97 (3,215,316.34) 27,553,385.93
Electronic equipment,
furniture and fixture 18,343,929.61 2,199,956.86 (931,252.27) 19,612,634.20
Operational vehicles 822,505,135.95 209,266,625.63 (155,777,946.94) 875,993,814.64
Other transportation 4,717,972.04 1,362,318.85 (140,105.02) 5,940,185.87
Hotel improvement 1,827,043.71 818,094.42 - 2,645,138.13
III. Net 748,583,857.19 909,962,739.43
Including: Buildings 99,357,641.80 137,105,615.72
Plant and machinery 18,412,069.90 30,142,818.80
Electronic equipment,
furniture and fixture 7,303,230.27 6,206,914.26
Operational vehicles 615,788,646.61 730,519,581.09
Other transportation 5,656,627.01 4,605,879.38
Hotel improvement 2,065,641.60 1,381,930.18
IV. Provision for impairment
loss 2,088,440.55 2,088,440.55
Including: Buildings 1,980,444.87 1,980,444.87
Plant and machinery 74,549.59 74,549.59
Electronic equipment,
furniture and fixture 33,446.09 33,446.09
Operational vehicles - -
Other transportation - -
Hotel improvement - -
V. Net book value 746,495,416.64 907,874,298.88
Including: Buildings 97,377,196.93 135,125,170.85
Plant and machinery 18,337,520.31 30,068,269.21
Electronic equipment,
furniture and fixture 7,269,784.18 6,173,468.17
Operational vehicles 615,788,646.61 730,519,581.09
Other transportation 5,656,627.01 4,605,879.38
Hotel improvement 2,065,641.60 1,381,930.18
Page 48
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Fixed assets - continued
(1)Fixed assets - continued
As at December 31, 2010, there is no restriction on title of fixed assets.
(2)Fixed assets with no certificates
As at December 31, 2010, the certificate of the building of Shanghai Jin Jiang Automobile Service
Co., Ltd. with net book value of RMB17,364,447.55 (2009: RMB9,893,468.38) is not obtained.
The certificate of the building of Shanghai Shang Hai Food Co., Ltd. with net book value of
RMB5,095,786.76 (2009: RMB4,889,669.62) is not updated.
Unit: RMB
Value of the Reason for not having Estimated date for
Item building certificates obtaining certificates
No.88, Wuzhong Road, 7,630,970.02 The construction was built --
Building of Shanghai Jin Jiang on the land rent under
Automobile Service Co., Ltd operating lease from related
party.
No.100, Wuzhong Road, 4,440,280.04 The construction was built --
Building of Shanghai Jin Jiang on the land rent under
Automobile Service Co., Ltd operating lease from related
party.
No.177, Songyuan Road, 5,293,197.49 The construction was built --
Building of Shanghai Jin Jiang on the land rent under
Automobile Service Co., Ltd operating lease from related
party.
No.1218, Waima Road, 5,095,786.76 The construction was built --
Building of Shanghai Shang Hai on the land allocated by the
Food Co., Ltd. government.
Notes to fixed assets:
(1) Included in current year cost additions, acquisition of fixed assets is amounted to
RMB348,744,716.17 and transfer from construction in progress is amounted to
RMB63,154,101.93.
(2) Included in current year cost reductions, disposals of fixed assets is amounted to
RMB186,054,009.93.
(3) Included in current year additions of accumulative depreciation, provided for this year is
amounted to RMB224,656,183.40.
(4) Included in current year reductions of accumulated depreciation, disposals of fixed assets is
amounted to RMB160,190,257.47.
Page 49
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
13. Construction in progress
(1)Details of construction in progress are as follows:
Unit: RMB
2010 2009
Provision Provision
for for
impairment Net booking impairment Net booking
Item Original value loss value Original value loss value
Vehicles before working condition - - - 8,889,095.00 - 8,889,095.00
Quick claim center for vehicle
25,844,234.60 - 25,844,234.60
traffic accidents 61,363,791.22 - 61,363,791.22
Ultra low temperature storage and
13,854,120.80 - 13,854,120.80
logistic project - - -
Others 138,300.00 - 138,300.00 7,744,283.63 - 7,744,283.63
Total 61,502,091.22 - 61,502,091.22 56,331,734.03 - 56,331,734.03
Page 50
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
13. Construction in progress - continued
(2)Movement of significant construction in progress
Unit: RMB
Including: Ratio of
Proportion of Cumulative amount of interest
construction amount of interest capitalization
At January 1, Transfer to investment in Construction in interest capitalization for this year At December
Item Budget 2010 Additions fixed assets budget (%) progress capitalization for this year (%) Capital Source 31, 2010
Quick claim center for The principal part of
vehicle traffic 65,000,000.00 25,844,234.60 35,519,556.62 - 94 underground project - - N/A Own capital 61,363,791.22
accidents has been completed
Ultra-low-temperature
storage and logistics 34,000,000.00 13,854,120.80 22,135,430.78 (35,989,551.58) 100 Completed - - N/A Own capital -
projects
Total -- 39,698,355.40 57,654,987.40 (35,989,551.58) -- -- - - -- -- 61,363,791.22
Page 51
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
14. Intangible assets
(1)Intangible assets
Unit: RMB
Item January 1, December 31,
2010 Additions Reductions 2010
Cost 225,578,250.55 21,110,700.00 - 246,688,950.55
Land use right 95,271,819.20 - - 95,271,819.20
Operational license of taxi 130,306,431.35 21,110,700.00 - 151,417,131.35
Accumulated amortisation 9,608,004.32 1,079,580.28 - 10,687,584.60
Land use right 3,577,652.20 1,079,580.28 - 4,657,232.48
Operational license of taxi 6,030,352.12 - - 6,030,352.12
Net 215,970,246.23 - - 236,001,365.95
Land use right 91,694,167.00 - - 90,614,586.72
Operational license of taxi 124,276,079.23 - - 145,386,779.23
Provision for impairment loss - - - -
Land use right - - - -
Operational license of taxi - - - -
Net book value 215,970,246.23 - - 236,001,365.95
Land use right 91,694,167.00 - - 90,614,586.72
Operational license of taxi 124,276,079.23 - - 145,386,779.23
(2)Intangible assets with no certificates
The certificate of land use right of Shanghai Shang Hai Food Co., Ltd. with net book value of
RMB14,230,400.00 (2009: RMB14,230,400.00) is not updated.
Notes to intangible assets:
(1) Included in current year cost additions, acquisition of intangible assets is amounted to
RMB21,110,700.00.
(2) Included in additions of accumulated amortisation of intangible assets, provided for this year
is amounted to RMB1,079,580.28.
Land use right with net book value of RMB42,106,800.00 (2009: RMB:42,106,800.00) is
allocated by the government and has uncertain useful life. The Group management believes the
land use right will be in use and bring in expected inflow economical benefits in the foreseeable
future. Therefore, its useful life is uncertain.
The useful year of the operational license of taxi held by the Group will not be expired. The
Group management believes the operational license of taxi will be in use and bring in expected
inflow economical benefits in the foreseeable future. Therefore its useful life is uncertain.
Page 52
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
15. Deferred tax assets and deferred tax liabilities
1. Presentation not offsetting deferred tax assets and deferred tax liabilities
(1) Recognized deferred tax assets and deferred tax liabilities
Unit: RMB
Item 2010 2009
Deferred tax assets:
Provision for impairment loss 1,113,066.60 1,112,813.25
Others 581,277.00 628,516.93
Total 1,694,343.60 1,741,330.18
Deferred tax liabilities:
Accumulated changes in fair value of available-for-sale
financial assets to other comprehensive income 21,363,965.91 36,401,815.26
Total 21,363,965.91 36,401,815.26
(2)Unrecognised deferred tax assets
Unit: RMB
Item 2010 2009
Deductible temporary differences 3,033,378.20 2,911,668.00
Deductible losses 1,831,688.40 3,611,254.18
Total 4,865,066.60 6,522,922.18
The Group has not recognised the deferred tax assets above due to the unpredictability of future
taxable profit.
(3)The deductible losses which are not recognised as deferred tax assets will expire as follows:
Unit: RMB
Period 2010 2009 Note
Year 2012 - 1,068,171.86 --
Year 2013 782,558.03 1,339,743.06 --
Year 2014 894,923.00 1,203,339.26 --
Year 2015 154,207.37 --
Total 1,831,688.40 3,611,254.18 --
Page 53
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
15. Deferred tax assets and deferred tax liabilities - continued
1. Presentation not offsetting deferred tax assets and deferred tax liabilities - continued
(4)Temporary difference
Unit: RMB
Item Temporary difference
2010:
Deductible temporary differences and deductible losses:
Provision for impairment loss 4,452,266.38
Other unpaid expenses 2,325,107.99
Total 6,777,374.37
Taxable temporary differences:
Accumulated changes in fair value of available-for-sale 85,455,863.67
financial assets to the comprehensive income
Total 85,455,863.67
2009:
Deductible temporary differences and deductible losses:
Provision for impairment loss 4,451,253.00
Others 2,514,067.69
Total 6,965,320.69
Taxable temporary differences:
Accumulated changes in fair value of available-for-sale
145,607,261.10
financial assets to the comprehensive income
Total 145,607,261.10
16. Provision for impairment loss of assets
Unit: RMB
Reductions
January 1, Reversals Write-off Disposals of December 31,
Item 2010 Additions subsidiaries 2010
Bad debt provision 355,227.45 122,723.58 - - - 477,951.03
Provision for impairment loss of
long-term equity investments 4,919,253.00 - - - - 4,919,253.00
Provision for impairment loss of
fixed assets 2,088,440.55 - - - - 2,088,440.55
Total 7,362,921.00 122,723.58 - - - 7,485,644.58
17. Other non-current assets
Unit: RMB
Item 2010 2009
Prepayment for investment (Note 1) 15,262,988.76 15,262,988.76
Long-term loan receivables (Note 2) 8,461,333.90 12,692,000.57
Less: due within 1 year 4,230,666.67 4,230,666.67
Total 19,493,655.99 23,724,322.66
Note 1: The closing balance of RMB15,262,988.76 is prepayment to Guotai Junan Securities Co.,
Ltd. for investment.
Note 2: Other long-term loan receivable due from Shanghai Pudong International Airport Cargo
Terminal Co., Ltd. is RMB50,768,000.00 non-interest bearing loan for its rental of
buildings, equipments and plants. The long-term loan receivable is repayable in 12 equal
annual repayments since January 1, 2001.
Page 54
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
18. Short-term borrowings
By categories:
Unit: RMB
Item 2010 2009
Entrusted loans 130,000,000.00 -
Total 130,000,000.00 -
The short-term borrowings are entrusted loans to Jin Jiang Automobile as instructed by the Jin
Jiang International (Group) Co., Ltd through Jin Jiang International (Group) Financial Ltd. Co.
Please refer to Note VI 5 (4).
19. Notes payable
Unit: RMB
Item 2010 2009
Bank acceptance 21,405,900.00 -
Total 21,405,900.00 -
The bank acceptance due in next accounting period is RMB21,405,900.00.
20. Accounts payable
(1) Details of accounts payables are as follows:
Unit: RMB
Item 2010 2009
Payable for goods and services 60,870,540.61 51,298,880.63
Total 60,870,540.61 51,298,880.63
(2) There are no accounts payable to shareholders who holding over 5% (inclusive) of the equity
interests with voting power or related parties.
(3) Details of account payables to related parties please refer to Note VI 6.
21. Advances from customers
(1) Details of advances from customers are as follows:
Unit: RMB
Item 2010 2009
Advances from customers for sales of goods and services 107,382,501.97 98,009,797.19
Total 107,382,501.97 98,009,797.19
(2) There are no advance from customers from shareholders holding over 5% (inclusive) of the
equity interests with voting power or related parties.
Page 55
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
22. Employee benefits payable
Unit: RMB
Item January 1, 2010 Additions Reductions December 31, 2010
I. Wages or salaries, bonus,
6,026,003.24 274,095,099.26 (270,260,065.71) 9,861,036.79
allowance, subsidies
II.Staff welfare 20,625,039.60 5,680,009.21 (12,585,965.84) 13,719,082.97
III.Social security contributions 9,953,938.20 126,566,387.70 (129,521,592.61) 6,998,733.29
Including: Premiums or
contributions 2,716,296.01 37,408,989.33 (37,883,500.17) 2,241,785.17
on medical insurance
Basic pension
6,479,614.00 78,258,984.20 (80,546,141.16) 4,192,457.04
insurance
Unemployment
460,050.89 7,217,144.07 (7,296,919.54) 380,275.42
insurance
Work injury insurance 79,766.40 2,003,577.15 (1,991,235.72) 92,107.83
Maternity insurance 218,210.90 1,677,692.95 (1,803,796.02) 92,107.83
IV.Housing fund 28,921.30 28,660,889.71 (28,689,811.01) -
V.Dismiss benefits - 1,708,584.64 (1,708,584.64) -
VI.Others 31,616,280.41 775,057.74 (6,614,017.48) 25,777,320.67
Including: Union fund and
employee education 9,084,418.50 775,057.74 (2,082,373.27) 7,777,102.97
fund
Subsidy for internal retired staffs 13,692,776.73 - (2,681,290.18) 11,011,486.55
Subsidy for retired staffs 8,839,085.18 - (1,850,354.03) 6,988,731.15
Total 68,250,182.75 437,486,028.26 (449,380,037.29) 56,356,173.72
No amount in arrear is included in employee benefits payable.
Union fund and employee education fund are amounted to RMB7,777,102.97.
23. Tax payable
Unit: RMB
Item 2010 2009
Value added tax 615,748.82 611,164.50
Business tax 5,240,310.17 3,128,899.89
Income tax 20,667,340.95 18,170,163.21
Individual income tax 850,984.55 953,433.92
Urban maintenance and construction tax 342,159.53 294,478.78
Others 2,553,146.88 2,481,638.27
Total 30,269,690.90 25,639,778.57
24. Dividends payable
Unit: RMB
Name 2010 2009 Reasons for over 1 year
overdue
Dividends paid to shareholders 20,062,281.35 20,869,833.55 Not draw
Total 20,062,281.35 20,869,833.55 --
Page 56
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
25. Other payables
(1)Details of other payables are as follows:
Unit: RMB
Item 2010 2009
Deposit 103,554,794.09 104,285,409.94
Debt due from reform 39,821,129.93 39,821,129.93
Others 135,118,109.94 108,931,517.06
Total 278,494,033.96 253,038,056.93
The balance aged over one year mainly includes deposit and debt due from reform.
(2) Other payables to shareholders holding over 5% (inclusive) of the entity interests with voting
power or related parties are as follows:
Unit: RMB
Name of shareholder 2010 2009
Jin Jiang International (Group) Co., Ltd. 5,000,000.00 3,000,000.00
Total 5,000,000.00 3,000,000.00
(3) Details of other payables to related parties please refer to Note VI 6.
26. Other current liabilities
Unit: RMB
Item 2010 2009
Receipt in advance of stock transfer 89,761,965.10 -
Receipt in advance of the increase of the registered capital 23,022,718.00 -
Total 112,784,683.10 -
Other current liabilities are the consideration received from the transfer of part of the shares and
increased registered capital of Cold Logistics. Details about non-adjusting events after the balance
sheet date please refer to IX 2 (2).
27. Other non-current liabilities
Unit: RMB
Item 2010 2009
Rehousing compensation 20,096,690.65 20,608,557.53
Deferred income 32,293,301.92 28,793,301.92
Total 52,389,992.57 49,401,859.45
Page 57
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
28. Share capital
Unit: RMB
Additions/Reductions
Opening balance Closing balance
Others
2010
I. Restricted tradable shares
1. State-owned legal person shares 157,425,450.00 (157,425,450.00) -
Sub-total 157,425,450.00 (157,425,450.00) -
II. Tradable shares
1. Ordinary shares denominated in RMB 233,134,625.00 157,425,450.00 390,560,075.00
2. Foreign capital shares listed domestically 161,050,032.00 - 161,050,032.00
Sub-total 394,184,657.00 157,425,450.00 551,610,107.00
III.Total shares 551,610,107.00 - 551,610,107.00
2009
I.Restricted tradable shares
1. State-owned legal person shares 185,005,955.00 (27,580,505.00) 157,425,450.00
Sub-total 185,005,955.00 (27,580,505.00) 157,425,450.00
II.Tradable shares -
1. Ordinary shares denominated in RMB 205,554,120.00 27,580,505.00 233,134,625.00
2. Foreign capital shares listed domestically 161,050,032.00 - 161,050,032.00
Sub total 366,604,152.00 27,580,505.00 394,184,657.00
III.Total shares 551,610,107.00 - 551,610,107.00
On February 13, 2009, the Group arranged the tradable shares come on to the market for the
second time, (only unit reform shaped tradable shares). The quantity was 27,580,505 shares, 5%
of the total Group shares.
On February 26, 2010, the Group arranged the tradable shares come on to the market for the
fourth time, (only unit reform shaped tradable shares). The quantity was 157,425,450 shares, 29%
of the total Group shares.
29. Capital reserve
Unit: RMB
Item Opening Balance Additions Reductions Closing Balance
2010:
Share premium 266,218,226.90 266,218,226.90
Including: Capital invested by investors 266,218,226.90 266,218,226.90
Other comprehensive income 111,780,115.90 (46,064,618.35) 65,715,497.55
Other capital reserve 104,470,768.36 104,470,768.36
Including: Transfer from capital reserve under the 98,665,171.28
98,665,171.28
previous accounting system (Note 1)
Realized consolidation adjustments by 5,805,597.08
steps to an entity not under the same 5,805,597.08
control
Total 482,469,111.16 (46,064,618.35) 436,404,492.81
2009:
Share premium 266,218,226.90 - - 266,218,226.90
Including: Capital invested by investors 266,218,226.90 - - 266,218,226.90
Other comprehensive income 51,785,288.74 66,416,291.09 (6,421,463.93) 111,780,115.90
Other capital reserve 119,048,162.60 - (14,577,394.24) 104,470,768.36
Including: Transfer from capital reserve under the - (14,577,394.24) 98,665,171.28
113,242,565.52
previous accounting system (Note 1)
Realized consolidation adjustments by - - 5,805,597.08
steps to an entity not under the same 5,805,597.08
control
Total 437,051,678.24 66,416,291.09 (20,998,858.17) 482,469,111.16
Page 58
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
29. Capital reserve - continued
Note (1) It can be used to increase the share capital and reverse the consolidation difference
generated by business combination under the same control.
30. Surplus reserve
Unit: RMB
Item Opening balance Additions Closing balance
2010:
Statutory surplus reserve 197,209,908.31 20,393,785.98 217,603,694.29
Discretionary surplus reserve 10,684,636.00 - 10,684,636.00
Total 207,894,544.31 20,393,785.98 228,288,330.29
2009:
Statutory surplus reserve 172,910,048.76 24,299,859.55 197,209,908.31
Discretionary surplus reserve 10,684,636.00 - 10,684,636.00
Total 183,594,684.76 24,299,859.55 207,894,544.31
31. Unappropriated profit
Unit: RMB
Item Amount Proportion of
addition
2010:
At beginning of year 701,034,222.87
Add:Net profit for attributable to shareholders of the parent for
the year 284,207,585.89
Less:Appropriation to statutory surplus reserve 20,393,785.98 Note (1)
Dividends payable 165,483,032.10 Note (2)
At end of year 799,364,990.68 Note (4)
2009:
At beginning of year 621,386,177.73
Add:Net profit for attributable to shareholders of the parent for
269,430,936.79
the year
Less:Appropriation to statutory surplus reserve 24,299,859.55 Note (1)
Dividends payable 165,483,032.10
At end of year 701,034,222.87 Note (4)
Note1: Appropriation to statutory surplus reserve
According to the Articles of Association, the Company is required to transfer 10% of its
net profit to the statutory surplus reserve. The transfer may be ceased if the balance of the
statutory reserve has reached 50% of the Company registered capital.
Note 2: Dividends payable
As approved by shareholders’ meeting dated June 18, 2010, on the basis of 551,610,107
issued shares (with the par value of RMB1 per share), dividends of RMB3 (before tax)
per each ten shares were distributed to all the shareholders.
Page 59
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
31. Unappropriated profit - continued
Note 3: Cash dividends after the balance sheet date
According to a proposal of the board of directors on March 29, 2011, on the basis of
551,610,107 issued shares (with the par value of RMB1 per share), dividends of RMB3
(before tax) for every 10 shares will be distributed to all the shareholders. The above
proposal regarding dividends distribution is yet to be approved by a shareholders’
meeting.
Note 4: Appropriation for statutory surplus reserve by subsidiaries
As at December 31, 2010, the balance of unappropriated profit of the Group includes the
statutory surplus reserve of RMB309,269,059.39 (2009: RMB229,384,529.19)
appropriated by the subsidiaries.
32. Operating income and operating costs
(1) Operating income
Unit: RMB
Item 2010 2009
Principal operating income 1,807,596,633.89 1,562,214,504.79
Other operating income 33,986,046.44 36,181,715.88
Operating costs 1,366,645,791.33 1,156,375,275.34
(2) Principal operating activities (by industry)
Unit: RMB
2010 2009
Category Operating income Operating costs Operating income Operating costs
Vehicle operating and relevant
1,136,127,679.84 773,983,454.71 990,550,233.18 656,410,001.51
business
Vehicle selling 575,920,019.59 541,494,491.18 487,105,977.86 454,190,145.24
Hotel and relevant business 24,297,104.83 3,834,512.90 20,783,121.61 3,535,007.96
Refrigerated logistics and relevant
71,251,829.63 35,392,725.55 63,775,172.14 33,284,282.53
business
Total 1,807,596,633.89 1,354,705,184.34 1,562,214,504.79 1,147,419,437.24
(3) Revenue from the top five clients of the Group
Unit: RMB
Name Operating income Ratio (%)
Client 1 35,235,658.00 2
Client 2 24,078,407.77 1
Client 3 14,669,887.02 1
Client 4 14,568,233.00 1
Client 5 11,322,435.00 1
Total 99,874,620.79 6
Page 60
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
33. Business taxes and levies
Unit: RMB
Item 2010 2009 Tax base
Business tax 37,805,872.01 35,560,675.96 Note III
Urban maintenance and construction tax 2,873,828.98 2,748,866.80 Note III
Education additional tax 1,350,817.85 1,310,537.79 Note III
Total 42,030,518.84 39,620,080.55
34. Selling and distribution expenses
Unit: RMB
Item 2010 2009
Employee benefits 88,420,916.44 81,924,996.82
Depreciation of fixed assets 9,003,817.53 8,955,818.31
Others 41,782,473.81 42,279,205.22
Total 139,207,207.78 133,160,020.35
35. Administrative expenses
Unit: RMB
Item 2010 2009
Employee benefits 68,990,511.80 85,163,162.62
Depreciation of fixed assets 5,366,586.83 3,808,674.19
Amortization of intangible assets 1,079,580.28 1,079,580.12
Amortization of investment property 771,759.24 784,715.04
Others 38,732,452.09 45,115,939.78
Total 114,940,890.24 135,952,071.75
36. Financial expenses
Unit: RMB
Item 2010 2009
Interest expenses 3,163,899.92 1,158,276.43
Less: Interest income 7,120,221.49 9,373,501.56
Exchange loss (gain) 246,846.79 138,467.14
Others 1,770,632.36 1,141,095.77
Total (1,938,842.42) (6,935,662.22)
37. Investment income
(1)Details of invest income are as follows:
Unit: RMB
Item 2010 2009
Dividend from investment carried at cost 8,189,382.03 16,632,526.70
Gains recognised under equity method 151,808,089.26 115,570,899.37
Income from abandon the right of capital injection 1,040,029.98 17,798,056.85
Gains on available-for-sale financial assets 2,087,008.70 2,199,833.80
Gains on disposal of held-for-trading financial assets 911,487.22 758,121.25
Gains on disposal of available-for-sale financial assets 16,668,238.47 22,749,386.23
Total 180,704,235.66 175,708,824.20
Page 61
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
37. Investment income - continued
(2)Significant investment income of long term investment under equity method
Unit: RMB
Investee 2010 2009 Reason
Shanghai Pudong International Airport 96,835,732.41 61,375,364.15 Business volume
Cargo Terminal Co., Ltd. decreased due to the
financial crisis
Shanghai Dazhong New Asia Co., Ltd. 9,607,923.56 12,438,303.29 Business volume
decreased slightly
JHJ International Transportation Co., 14,515,896.15 10,593,618.91 Business volume
Ltd. increased without impact
of financial crisis
Total 120,959,552.12 84,407,286.35 --
There is no significant restriction on remittance of the Company’s gains on investment.
38. Impairment loss in respect of assets
Unit: RMB
Item 2010 2009
I. Bad debt losses 122,723.58 33,363.88
Total 122,723.58 33,363.88
39. Non-operating income
(1) Details of non-operating income are as follows:
Unit: RMB
Item 2010 2009 Extraordinary
gains and losses
in current year
Gains on disposal of non-current assets 16,351,891.96 20,425,838.06 1,680,810.77
Including: Gain on disposal of fixed assets 16,351,891.96 20,425,838.06 1,680,810.77
Government grants 2,786,854.62 7,281,256.32 2,786,854.62
Penalty income 1,656,902.12 1,788,280.33 1,656,902.12
Others 3,876,760.57 2,528,962.73 3,876,760.57
Total 24,672,409.27 32,024,337.44 10,001,328.08
(2) Details of government grants are as follows:
Unit: RMB
Item 2010 2009 Notes
Refund from government 2,255,987.83 1,816,247.20 --
Subsidy for preferential price of
1,397,950.75 --
public traffic -
Subsidy for gasoline price - 1,615,392.33 --
Subsidy for certain lines of bus - 2,101,033.44 --
Others 530,866.79 88,132.60 --
Deferred income - 262,500.00 --
Total 2,786,854.62 7,281,256.32 --
Page 62
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
40. Non-operating expenses
Unit: RMB
Item 2010 2009 Extraordinary
gains and losses
in current year
Losses on disposal of non-current assets 901,747.50 319,630.42 901,747.50
Including: losses on disposal of fixed assets 901,747.50 319,630.42 901,747.50
Others 42,550.05 408,403.51 42,550.05
Total 944,297.55 728,033.93 944,297.55
41. Income tax
Unit: RMB
Item 2010 2009
Current tax expense 45,944,634.98 39,005,243.35
Deferred tax expense 46,986.58 49,775.40
Others (69,680.56) (902,365.90)
Total 45,921,941.00 38,152,652.85
Reconciliation of income tax expenses to the accounting profit is as follows:
Unit: RMB
2010 2009
Accounting profit 385,006,738.36 347,196,198.73
Income tax expenses calculated at 22% (2009: 20%) 84,701,482.44 69,439,239.75
Effect of expenses that are not deductible for tax purposes 1,197,893.00 956,294.73
Effect of tax-free income (36,957,770.85) (28,598,788.86)
Effect of expenses that are deductible additionally for tax purposes (286,534.93) (314,410.90)
Effect of unrecognised deductible losses and deductible temporary
differences for tax purposes 54,001.62 300,834.82
Effect of using previously unrecognised deductible losses and
deductible temporary differences for tax purposes (425,430.09) (407,180.18)
Effect of different tax rates of subsidiaries 1,283,580.37 642,249.16
Additional tax paid in respect of the prior year (69,680.56) (902,365.90)
Tax refund due from purchase of domestic equipment (3,575,600.00) (2,963,219.77)
Total 45,921,941.00 38,152,652.85
Page 63
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
42. Calculation of basis earnings per share and diluted earnings per share
Net profit for the current period attributable to ordinary shareholders is as follows:
Unit: RMB
2010 2009
Net profit for the current period attributable to ordinary
shareholders 284,207,585.89 269,430,936.79
Including: Net income from continuing operations 284,207,585.89 269,430,936.79
The denominator is the weighted average number of outstanding ordinary shares and its
calculation process is as follows:
Unit: RMB
2010 2009
Number of ordinary shares outstanding at the beginning of year 551,610,107.00 551,610,107.00
Add: weighted average number of ordinary shares issued during
the year - -
Less: weighted average number of ordinary shares repurchased
during the year - -
Number of ordinary shares outstanding at the closing of year 551,610,107.00 551,610,107.00
Earnings per share
Unit: RMB
2010 2009
Net profit for the year attributable to shareholders of the parent
Basic earnings per share 0.515 0.488
Diluted earnings per share N/A N/A
Net profit from continuing operations for the year attributable to
shareholders of the parent
Basic earnings per share 0.515 0.488
Diluted earnings per share N/A N/A
Net profit from discontinued operations for the year attributable
to shareholders of the parent
Basic earnings per share N/A N/A
Diluted earnings per share N/A N/A
Note: The Group has no diluted potential ordinary shares on December 31, 2010.
43. Other comprehensive income
Unit: RMB
Item 2010 2009
1.Fair value gain (loss) on of available-for-sale financial assets (42,526,524.90) 84,811,588.99
Less:Income tax relating to available-for-sales financial assets (10,631,631.23) 21,202,897.25
Amounts previously recognised in other comprehensive
income being reclassified to profit or loss 13,218,654.40 6,421,589.43
Sub-total (45,113,548.07) 57,187,102.31
2.Share of other comprehensive income of associates (1,054,856.61) 3,136,353.00
Sub-total (1,054,856.61) 3,136,353.00
Total (46,168,404.68) 60,323,455.31
Page 64
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
44. Notes to the cash flow statements
(1) Other cash receipts relating to operating activities:
Unit: RMB
Item 2010 2009
Cash receipts from interest income 7,120,221.49 9,373,501.56
Cash receipts from other operating activities 15,396,117.31 11,335,999.38
Total 22,516,338.80 20,709,500.94
(2) Other cash payments relating to operating activities
Unit: RMB
Item 2010 2009
Cash payments relating to other operating activities 70,704,818.21 84,621,613.59
Total 70,704,818.21 84,621,613.59
(3) Other cash receipts relating to investing activities
Unit: RMB
Item 2010 2009
Cash receipts from other non-current assets 4,230,666.67 4,230,666.67
Total 4,230,666.67 4,230,666.67
(4) Other cash payments relating to investing activities
Unit: RMB
Item 2010 2009
Cash repayments to minority shareholders - 560,563.33
Total - 560,563.33
Page 65
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
45. Supplementary information to the cash flow statements
(1) Supplementary information to the cash flow statements
Unit: RMB
Supplementary information 2010 2009
1. Reconciliation of net profit to cash flow from operating
activities:
Net profit 339,084,797.36 309,043,545.88
Add: Provision for asset impairment 122,723.58 33,363.88
Depreciation of fixed assets 224,656,183.40 218,994,965.41
Amortization of intangible assets 1,079,580.28 1,079,580.12
Depreciation and amortization of investment property 771,759.24 771,759.24
Amortization of long-term prepayments 12,955.80 12,955.80
Gains on disposal of fixed assets, intangible assets and
other long-term assets (15,450,144.46) (20,106,207.64)
Financial expenses 3,163,899.92 1,158,276.43
Gains arising from investments (180,704,235.66) (175,708,824.20)
Decrease in deferred tax assets 46,986.58 49,775.40
Decrease (increase) in inventories (6,071,138.03) (2,313,901.52)
Decrease (increase) in operating receivables (699,005.86) (42,733,308.54)
Increase (decrease) in operating payables 52,723,781.14 34,069,041.58
Net cash flow from operating activities 418,738,143.29 324,351,021.84
2. Net changes in cash and cash equivalents:
Closing balance of cash and cash equivalents 757,555,245.06 549,074,409.21
Less: opening balance of cash and cash equivalents 549,074,409.21 609,605,573.31
Net increase (decrease) in cash and cash equivalents 208,480,835.85 (60,531,164.10)
Page 66
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
V. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
45. Supplementary information to the cash flow statements - continued
(2) Details of acquisitions and deposals of subsidiaries and other business units are as follows:
Unit: RMB
Item 2010 2009
I.Acquisition of subsidiaries and other business units
1.Price of acquisition of subsidiaries and other business units - -
2.Cash and cash equivalents paid for the acquisition of
- -
subsidiaries and other business units
Less:cash and cash equivalents of subsidiaries and other
- -
business units
3.Net cash payments for acquisitions of subsidiaries and
- -
other business units
4.Net assets of subsidiaries acquired - -
Current assets - -
Non-current assets - -
Current liabilities - -
Non-current liabilities - -
II.Disposals of subsidiaries and other business units
1.Price of disposals of subsidiaries and other business units - 29,739,618.36
2.Cash and cash equivalents received from disposals of
1,539,618.36 28,200,000.00
subsidiaries and other business units
Less:cash and cash equivalents of subsidiaries - 18,781,149.30
3.Net cash receipts from disposals of subsidiaries and other
1,539,618.36 9,418,850.70
business units
4.Net assets of subsidiaries disposed - 35,996,676.06
Current assets - 37,010,177.35
Non-current assets - 55,744,340.34
Current liabilities - 52,610,341.63
Non-current liabilities - 4,147,500.00
Note: The amount of the transaction this year is the remaining amount receipt from Shanghai Jin
Jiang Public Traffic Co., Ltd..
(3) Cash and cash equivalents
Unit: RMB
Item 2010 2009
Cash 757,555,245.06 549,074,409.21
Including: Cash on hand 554,266.49 394,607.62
Bank deposits that can be readily withdrawn
757,000,978.57 548,679,801.59
on demand
Closing balance of cash and cash equivalents 757,555,245.06 549,074,409.21
Page 67
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
VI. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS
1. Information of parent company
Unit: RMB
Nature or Proportion of Proportion Ultimate
Company Place of Legal type of Registered shareholdings of voting holding Organization
name Relationship Type registration representative business capital (%) power (%) company code
Jin Jiang Parent Limited Shanghai Yu Min Liang Travel, hotel 2,000,000,000 38.54 the same as Jin Jiang 13222031-2
International company company the shares Group
(Group) Co., (state-owned)
Ltd. (the 'Jin
Jiang Group')
2. Subsidiaries information
Details of subsidiaries please refer to Note IV 1.
3. Information of joint ventures and associates
Details of joint ventures and associates please refer to Note V9.
Page 68
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
VI. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
4. Other related parties
Name Related party relationships
Shanghai Jin Jiang Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Travel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Hotel Facility Co., Ltd. Fellow subsidiary
Shanghai Travel Co., Ltd. Fellow subsidiary
Shanghai China International Travel Service Co., Ltd. Fellow subsidiary
Shanghai Food (Group) Co., Ltd. Fellow subsidiary
Shanghai Huating Overseas Tourist Co., Ltd. Fellow subsidiary
Shanghai Jing Jiang International Travel Co., Ltd Fellow subsidiary
Jin Jiang Inn Co., Ltd. Fellow subsidiary
Jin Jiang International Group (Hong Kong) Co., Ltd. Fellow subsidiary
Shanghai Galaxy Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Hotels (Group) Co., Ltd
Fellow subsidiary
Xin Jin Jiang Hotel.
Sofitel Jin Jiang Oriental Hotel Fellow subsidiary
Jin Jiang International (Group) Financial Ltd. Co Fellow subsidiary
Shanghai Maochang Food Co., Ltd. Fellow subsidiary
The above entities are called by a joint name of Jin Jiang Group Companies.
Page 69
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
VI. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Significant transactions between the Group and related parties in the year
(1)Purchases or sales of goods, rendering or receiving of services
Unit: RMB
2010 2009
Name of related parties Transaction type Nature Amount Percentage (%) Amount Percentage (%)
Jin Jiang Group Rendering services Vehicle operating income 1,551,017.00 - 3,433,477.00 -
Jin Jiang Group Companies Rendering services Vehicle operating income 11,266,628.40 1 4,972,386.00 1
Shanghai Nissan Maintenance Center Rendering services Vehicle operating income 191,160.00 - - -
Jin Jiang Group Companies Rendering services Management service income 230,000.00 - - -
Jin Jiang Group Companies Purchases or sales of goods Purchase of goods 211,440.00 - 22,549.00 -
Shanghai Jin Jiang Automobile Sales Co., Ltd. Purchases or sales of goods Acquisition of fixed assets 118,335,559.38 34 76,419,747.53 31
Jin Jiang Group Companies Rendering services Management fee (Note 1) 692,529.29 - 539,015.18 -
Shanghai Jinmao Jin Jiang Automobile Services Co., Ltd. The use by others of enterprise assets Interest income - - 39,757.50 -
Jin Jiang Group The use by others of enterprise assets Interest expense 748,799.99 - - -
Consideration of share 17,583,797.00
Jin Jiang Group Share transfer transfer of Sofitel Jin Jiang - - -
Oriental Hotel (Note 2)
Pricing principle and process of decision-making: The Group set price according to the agreement on integrated service, products purchase and sales
contracts signed by related parties. Significant related party transactions need approval of the board of directors.
Note 1:The management fee paid to Jin Jiang Group Companies is 2% of hotel income plus 4% of hotel and profit, as rewarding the service provided,
including general administration, marketing, purchase and etc.
Note 2: During the year, the Group has transferred 1.87% of its interest in Sofitel Jin Jiang Oriental Hotel to the Jin Jiang International (Group) Co.,
Ltd. at the consideration of RMB17,583,797.00, and the investment income occurred is RMB1,011,279.19.
Page 70
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
VI. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Significant transactions between the Group and related parties in the year - continued
(2)Leasing arrangements
Rental income
Unit: RMB
Recognition criteria for
Leaser Leasee Asset for leasement Rental income rental income Effect to the Group
Shanghai Jin Jiang Automobile Shanghai Jin Jiang Automobile Sales Co., Ltd. Building 839,520.00 Rental contract Insignificant
Service Co., Ltd.
Shanghai Jin Jiang Automobile Shanghai Petrol Group Changle Gas Station Co., Building 200,000.00 Rental contract Insignificant
Service Co., Ltd. Ltd.
Rental expenses
Unit: RMB
Asset for Rental Recognition criteria for Effect to the
Leaser Leasee leasement Beginning date Ending date expenses rental expenses Group
Shanghai Nissan Shanghai Jinmao Automobile Distribution and
Building January 1, 2010 December 31, 2010 600,000.0 Rental contract Insignificant
Maintenance Center Services Co., Ltd.
Jin Jiang Group Shanghai Jin Jiang Automobile Service Co., Ltd. Land use right December 1, 2003 November 30, 2013 3,000,000.00 Rental contract Insignificant
Jin Jiang Group(Note) The Company Building Note Note 116,232.00 Rental contract Insignificant
Note: The Group need not pay for the rental expenses regarding parts of house leased from Jin Jiang Group. The rental expenses should be
recognized as RMB1,560,000.00 in the current year assuming the original price is still effective.
(3)Guarantees
Unit: RMB
Guarantor Guarantee Amount Beginning date Ending date Completion of fulfillment
Shanghai Jin Jiang Automobile Shanghai Yongda Fengdu Automobile
3,600,000.00 April 12, 2010 April 12, 2012 No
Service Co., Ltd. Distribution and Services Co., Ltd.
Shanghai Jin Jiang Automobile Shanghai Yongda Fengdu Automobile
4,000,000.00 February 5, 2010 February 6, 2013 No
Service Co., Ltd. Distribution and Services Co., Ltd.
Shanghai Jin Jiang Automobile Shanghai Yongda Fengdu Automobile
8,000,000.00 January 8, 2010 January 7, 2011 No
Service Co., Ltd. Distribution and Services Co., Ltd.
Page 71
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
VI. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Significant transactions between the Group and related parties in the year - continued
(4) Provision of finance
2010:
Unit: RMB
Beginning Ending Closing
Name of related parties Amount date date balance 2010 Note
Borrowed from:
November November
Jin Jiang Group 200,000,000.00 130,000,000.00 --
4,2010 4,2011
Advanced to:
Shanghai Pudong International January 1, December
50,768,000.00 8,461,333.90 --
Airport Cargo Terminal Co., Ltd. 2001 31, 2012
2009:
Unit: RMB
Beginning Ending
Name of related parties Amount date date Closing balance 2009 Note
Advanced to:
Shanghai Pudong
January 1, December
International Airport 50,768,000.00 12,692,000.57 --
2001 31, 2012
Cargo Terminal Co., Ltd.
(5) Emoluments for key management personnel
Unit: RMB
Item 2010 2009
Emoluments for key management personnel 2,620,000.00 2,910,000.00
Page 72
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
VI. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
6. Balance due to/from related parties
Unit: RMB
Item Name of related parties Closing balance 2010 Closing balance 2009
Accounts receivable Jin Jiang Group 11,000.00 34,707.00
Accounts receivable Jin Jiang Group Companies 1,189,833.00 366,183.00
Shanghai Jin Jiang Automobile Sales
Other receivables 5,445,006.00 -
Co., Ltd.
Shanghai Jin Jiang Passenger Transport
Other receivables 303,518.53 -
Co., Ltd.
Advances to suppliers Jin Jiang Group Companies - 23,600.00
Shanghai Jin Jiang Automobile Sales
Advances to suppliers 6,098,134.00 21,335,467.19
Co., Ltd.
Shanghai Yongda Fengdu Automobile
Accounts payable 7,621,772.43 7,606,516.33
Distribution and Services Co., Ltd.
Shanghai Jin Jiang Automobile Sales
Accounts payable 494,676.67 -
Co., Ltd.
Other payables Jin Jiang Group 5,000,000.00 3,000,000.00
Shanghai Jin Jiang Passenger Transport
Other payables 58,970.74 295,820.15
Co., Ltd.
Other payables Jin Jiang Group Companies 44,884,564.22 43,687,077.29
Shanghai Jing Jiang Jiayou Automobile
Other payables 2,635,290.70 -
Services Co., Ltd.
Shanghai Jin Jiang Automobile Sales
Other payables 1,462,900.00 1,694,300.00
Co., Ltd.
Other payables Shanghai Nissan Maintenance Center 6,960,837.93 6,842,958.91
VII. CONTINGENCIES
1. Contingent liabilities
The Group’s subsidiary Shanghai Jin Jiang Automobile Service Co., Ltd. provided guarantee to
Shanghai Yongda Fengdu Automobile Distribution and Services Co., Ltd. for the short-term
borrowings of RMB15,600,000.00 (2009: RMB13,600,000.00), details please refer to note VI
5(3).
The Group’s subsidiary Shanghai Jin Jiang Business and Travel Auto Service Co., Ltd. provided
guarantee to Shanghai South Station Long Distance Passenger Terminal Co., Ltd. for short-term
borrowings of RMB12,500,000.00 (2009: RMB12,500,000.00).
Page 73
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
VIII. COMMITMENTS
1. Significant commitments
(1) Capital commitments
Unit: RMB'000
2010 2009
Capital commitments that have been entered into agreements
-
but have not been recognised in the financial statements
- Commitment for acquisition of long-term assets 39,298
- Construction contracts 12,516 32,791
Total 51,814 32,791
(2)Operating lease commitments
As of the balance sheet date, the Group had the following commitments in respect of
non-cancelable operating leases:
Unit: RMB'000
2010 2009
Minimum lease payments under non-cancelable operating
1st year subsequent to the balance sheet date 7,246 8,119
2nd year subsequent to the balance sheet date 6,755 6,430
3rd year subsequent to the balance sheet date 6,017 6,331
Subsequent periods 3,932 6,858
Total 23,950 27,738
IX. NON-ADJUSTING EVENTS AFTER THE BALANCE SHEET DATE
1. Dividends after the balance sheet date
Details please refer to Note V 31 Note 3.
2. Other events after the balance sheet date
(1) Change on controlling shareholder: Jin Jiang International has received share transfer
registration from China Securities Depository and Clearing Corporation Limited Shanghai
Branch and has confirmed that the share transfer - Jin Jiang International (Group) Co., Ltd.
transferred 212,586,460 shares (up to 38.54% of the total shares) to Shanghai Jin Jiang
International Hotels (Group) Co., Ltd. - has been completed. Shanghai Jin Jiang International
Hotels (Group) Co., Ltd. has become the Company's largest shareholder. Jin Jiang
International (Group) Co., Ltd. does not hold shares of the Company. Jin Jiang Investment has
received Certificate of Approval for Establishment of Enterprises with Foreign Investment
according to the requirements of the Government and will complete the change of business
registration.
Page 74
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
IX. NON-ADJUSTING EVENTS AFTER THE BALANCE SHEET DATE - continued
2. Other events after the balance sheet date - continued
(2) Change on part of interests of the subsidiary Cold Logistics: This year, according to the
agreement, 38.33% of the shares of Cold Logistics held by the Company, 5% of the shares
held by Jin Jiang Automobile, along with rights and obligations on the shares, will be
transferred to Mitsui & Co. (Asia Pacific) Pte. Ltd.. Meanwhile, Mitsui & Co. (Asia Pacific)
Pte. Ltd. will increase registered capital of Cold Logistics, which will become a Sino-Foreign
Limited Joint Venture. According to the Agreement, Mitsui & Co. (Asia Pacific) Pte. Ltd. is
entitled to enforce the rights of the shareholder and take corresponding obligations specified
by laws, joint venture contract, and the new Articles of Association from January 1, 2011.
Cold Logistics got the Business License (Registration Number: 310115000967521 (Pudong))
issued by Shanghai Administration Bureau for Industry and Commerce, Pudong New area
sub-bureau on January 18, 2011. After the share transfer and registered capital increase, the
registered capital of Cold Logistics became RMB83,338,235.00, and Jin Jiang Investment's
contribution on Cold Logistics became RMB42,502,500.00, up to 51% of the registered
capital of Cold Logistics, while Mitsui & Co. (Asia Pacific) Pte. Ltd.'s contribution on Cold
Logistics became RMB40,835,735.00, up to 49% of the registered capital of Cold Logistics.
X. OTHER SIGNIFICANT EVENTS
1. Assets and liabilities at fair value
Unit: RMB
Accumulated
changes in fair
value to
Movement for shareholders’ Closing
Item Opening balance the year equity balance
Financial assets
Available-for-sale financial assets 160,853,050.30 - 64,091,897.75 103,730,453.50
2. Others
2(1). Segment report
According to the Group's organization structure, internal management requirements and internal
reporting system, the Group identifies its business activities into 4 reportable segments based on
business segments. The management of the Group evaluates the performance of its operating
segments and allocates resources to them based on their operation results, which is equivalent to
the segment result. The products and services of the reportable segments are: vehicle operating
business; automobile selling business; hotel and relevant business, and refrigerated logistics
business.
Segment information is prepared and presented under the accounting policies of internal reporting
to the management, which is in conformity with the accounting policies used for preparing and
presenting the Group's financial statements.
Page 75
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
X. OTHER SIGNIFICANT EVENTS - continued
2. Others - continued
2(1). Segment report - continued
(1)Segment report
Unit: RMB
Refrigerated logistics and relevant
Vehicle operating and relevant business Automobile selling Hotel and relevant business Unapproriated items Total
business
2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009
Operating income
Revenue arising from 1,128,721,887.67 1,013,004,385.52 604,174,065.71 487,105,977.86 24,297,104.83 20,783,121.61 84,389,622.12 77,502,735.68 - - 1,841,582,680.33 1,598,396,220.67
external transactions
Revenue arising from - - - - - - - - - - - -
inter-segment transactions
Total segment operating 1,128,721,887.67 1,013,004,385.52 604,174,065.71 487,105,977.86 24,297,104.83 20,783,121.61 84,389,622.12 77,502,735.68 - - 1,841,582,680.33 1,598,396,220.67
income
Total operating income 1,841,582,680.33 1,598,396,220.67
Operating costs 760,234,114.64 659,574,367.39 557,762,170.22 454,190,145.24 3,834,512.90 3,535,007.96 44,814,993.57 39,075,754.75 - - 1,366,645,791.33 1,156,375,275.34
Business taxes and levies 34,758,133.13 33,145,855.12 1,335,890.01 1,113,209.03 1,230,354.31 1,044,666.09 4,706,141.39 4,316,350.31 - - 42,030,518.84 39,620,080.55
Selling and distributions
117,321,151.74 116,223,164.49 12,112,832.45 7,851,550.02 9,229,630.02 8,499,588.57 543,593.57 585,717.27 - - 139,207,207.78 133,160,020.35
expenses
Administrative expenses 54,433,612.15 75,799,041.94 19,147,586.03 16,247,802.20 2,354,720.19 1,924,647.84 23,778,026.34 22,793,523.30 15,226,945.53 19,187,056.47 114,940,890.24 135,952,071.75
Total segment operating
966,747,011.66 884,742,428.94 590,358,478.71 479,402,706.49 16,649,217.42 15,003,910.46 73,842,754.87 66,771,345.63 15,226,945.53 19,187,056.47 1,662,824,408.19 1,465,107,447.99
costs
Segment operating profit
161,974,876.01 128,261,956.58 13,815,587.00 7,703,271.37 7,647,887.41 5,779,211.15 10,546,867.25 10,731,390.05 (15,226,945.53) (19,187,056.47) 178,758,272.14 133,288,772.68
(loss)
Adjustment
Financial expenses - - - - - - - - - - (1,938,842.42) (6,935,662.22)
Impairment loss in
- - - - - - - - - - 122,723.58 33,363.88
respect of assets
Investment income - - - - - - - - - - 180,704,235.66 175,708,824.20
Operating profit - - - - - - - - - - 361,278,626.64 315,899,895.22
Non-operating income - - - - - - - - - - 24,672,409.27 32,024,337.44
Non-operating expenses - - - - - - - - - - 944,297.55 728,033.93
Total profit - - - - - - - - - - 385,006,738.36 347,196,198.73
Income tax expenses - - - - - - - - - - 45,921,941.00 38,152,652.85
Net profit - - - - - - - - - - 339,084,797.36 309,043,545.88
Financial expenses, impairment loss in respect of assets and investment income are not included in segment operating profit.
Page 76
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
X. OTHER SIGNIFICANT EVENTS - continued
2. Others - continued
2(1). Segment report - continued
(1)Segment report - continued
Unit: RMB
Vehicle operating and relevant business Automobile selling Hotel and relevant business Refrigerated logistics and relevant business Unappropriated items Total
2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009
Total segment assets 1,250,366,993.88 1,049,118,053.19 133,692,245.52 109,715,065.97 172,629,003.71 84,374,490.22 290,617,963.98 226,919,730.02 364,432,096.54 355,756,285.68 2,211,738,303.63 1,825,883,625.08
Adjustment:
Dividends receivable - - - - - - - - - - 3,850,263.85 4,040,836.87
Long-term equity investments - - - - - - - - - - 759,135,519.02 715,080,149.87
Available-for-sale financial assets - - - - - - - - - - 103,730,453.50 160,853,050.30
Deferred tax assets - - - - - - - - - - 1,694,343.60 1,741,330.18
Total assets - - - - - - - - - - 3,080,148,883.60 2,707,598,992.30
Total segment liabilities 392,603,778.83 380,039,299.02 79,108,982.27 59,817,658.46 48,835,714.04 12,043,077.44 43,179,695.66 63,726,090.70 4,170,972.03 4,372,651.33 567,899,142.83 519,998,776.95
Adjustment: -
Short-term borrowings - - - - - - - - - - 130,000,000.00 -
Dividends payable - - - - - - - - - - 20,062,281.35 20,869,833.55
Tax payable - - - - - - - - - - 30,269,690.90 25,639,778.57
Deferred tax liabilities - - - - - - - - - - 21,363,965.91 36,401,815.26
Other current liabilities - - - - - - - - - - 112,784,683.10 -
Total liabilities 882,379,764.09 602,910,204.33
Supplementary information
Depreciation and amortisation 214,745,588.49 209,254,820.38 1,398,685.42 1,093,092.42 3,476,650.62 3,613,802.65 6,899,554.19 6,897,545.12 - - 226,520,478.72 220,859,260.57
Interest income 1,713,096.24 4,480,560.84 336,026.68 517,952.23 4,489,397.19 3,726,772.15 385,286.06 351,968.01 196,415.32 296,248.33 7,120,221.49 9,373,501.56
Interest expense 3,009,272.62 1,158,276.43 - - - - 154,627.30 - - - 3,163,899.92 1,158,276.43
Impairment losses recognized in the current
- - - - - - 122,723.58 33,363.88 - - 122,723.58 33,363.88
period
Investment income recognized in long-term
30,848,537.14 31,163,613.02 - - 24,123,819.71 23,031,922.20 - - 96,835,732.41 61,375,364.15 151,808,089.26 115,570,899.37
investment accounted for using equity method
Long-term investment accounted for using equity
241,540,898.86 234,007,163.84 - - 213,704,199.26 214,348,072.75 - - 217,026,174.66 163,305,429.23 672,271,272.78 611,660,665.82
method
Non-current assets other than long-term
980,396,849.79 817,534,409.30 8,609,574.92 7,815,604.15 168,768,004.76 224,690,699.66 203,459,309.09 181,798,819.75 4,230,667.23 8,461,333.90 1,365,464,405.79 1,240,300,866.76
investment
Capital expenditure 405,202,375.28 368,459,945.73 1,423,445.91 1,536,406.63 136,328.00 182,255.00 32,185,871.10 17,741,715.78 - - 438,948,020.29 387,920,323.14
Including: Expenditure arising from construction
37,876,595.56 276,675,658.62 - - - - 30,447,863.56 14,867,233.80 - - 68,324,459.12 291,542,892.42
in progress
Expenditure arising from purchase of
345,522,634.72 10,274,287.11 1,347,745.91 1,536,406.63 136,328.00 182,255.00 1,738,007.54 2,874,481.98 - - 348,744,716.17 14,867,430.72
fixed assets
Expenditure arising from purchase of
21,035,000.00 81,510,000.00 75,700.00 - - - - - - - 21,110,700.00 81,510,000.00
intangible assets
(2) All business and all operating assets of the Group are in China.
(3)The Group does not have customer with over 10% of the total revenue.
Page 77
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
X. OTHER SIGNIFICANT EVENTS - continued
2. Others - continued
2(2). Financial instruments and risk management
The Group's major financial instruments include currency funds, equity investments, borrowings,
available-for-sale financial assets, accounts receivable, accounts payable, etc. Details of these
financial instruments are disclosed in Note V. The risks associated with these financial
instruments and the policies on how to mitigate these risks are set out below. Management
manages and monitors these exposures to ensure appropriate measures are implemented on a
timely and effective manner.
1. Risk management objectives and policies
The Group's risk management objectives are to achieve proper balance between risks and yield,
minimize the adverse impacts of risks on the Group's operation performance, and maximize the
benefits of the shareholders and other equity investors. Based on these risk management
objectives, the Group's basic risk management strategy is to identify and analyse the industry's
exposure to various risks, establish appropriate bottom line for risk tolerance and implement risk
management, and monitor various risks in a timely and reliable manner to ensure risks are under
control within certain limits.
1.1 Market risk
1.1.1. Currency risk
Currency risk is the risk that losses will occur because of changes in foreign exchange rates. The
Group's other principal activities are denominated and settled in RMB. Currency risk arising from
the foreign currency balance of assets and liabilities has no significant impact on the Group's
performance. As at 31 December 2010, the balance of the Group's assets and liabilities are both
denominated in RMB except that balance of assets set out below is in USD, but the balance has
no significant impact on the Group's performance.
Unit: RMB
Item Ending balance Opening balance
Cash and cash equivalent 22,884,649.45 -
1.1.2 Interest rate - risk of changes in fair value
The Group's fair value interest rate risk relates primarily to fixed-rate bank entrusted borrowings
from a financial institution (see Note V 18 for details). The borrowings, which are related party
transactions and bear low interest rates, have no significant impact of risk on the Group's
operational performance.
1.1.3. Other price risk
The Group's available-for-sale financial assets are measured at fair value at each balance sheet
date. Therefore, the Group is exposed to the risks of changes in the equity securities price. The
Group minimises the equity security price risks by holding a portfolio of equity securities with
different risks.
Page 78
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
X. OTHER SIGNIFICANT EVENTS - continued
2. Others - continued
2(2). Financial instruments and risk management - continued
1. Risk management objectives and policies - continued
1.2. Credit risk
As at December 31, 2010, the Group’s maximum exposure to credit risk which will cause a
financial loss to the Group due to failure to discharge an obligation by the counterparties and
financial guarantees provided by the Group is arising from:
The carrying amount of the respective recognised financial assets as stated in the
consolidated balance sheet. For financial instruments measured at fair value, the carrying
amount reflects the exposure to risks (but not the maximum exposure to risks); the maximum
exposure to risks would vary according to the future changes in the fair value.
In order to minimise the credit risk, the Group controls credit limits, credit approvals and other
monitoring procedures to ensure that follow-up action is taken to recover overdue debts. In
addition, the Group reviews the recoverable amount of each individual trade debt at each balance
sheet date to ensure that adequate impairment losses are made for irrecoverable amounts. In this
regard, the management of the Group consider that the Group’s credit risk is significantly
reduced.
The credit risk on liquid funds is limited because the counterparties are banks with high credit
ratings assigned by international credit-rating agencies.
The Group has adopted a policy of only dealing with creditworthy counterparties. The Group has
no significant concentration of credit risk.
1.3. Liquidity risk
In the management of the liquidity risk, the Group monitors and maintains a level of cash and
cash equivalents deemed adequate by the management to finance the Group’s operations and
mitigate the effects of fluctuations in cash flows.
On December 31, 2010, the financial assets and financial liabilities of the Group will mature
within one year except for some deposit and debt due from reform of other payables.
Page 79
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
X. OTHER SIGNIFICANT EVENTS - continued
2. Others - continued
2(2). Financial instruments and risk management - continued
2. Fair value
The fair values of the financial assets and financial liabilities are determined as follows:
The fair value of financial assets and financial liabilities with standard terms and conditions
and traded on active markets are determined with reference to quoted market bid prices and
ask prices respectively;
The fair value of other financial assets and financial liabilities (excluding derivative
instruments) are determined in accordance with generally accepted pricing models based on
discounted cash flow analysis using prices or rates from observable current market
transactions.
The Group’s management believes the book value of the financial assets and financial liabilities
carried at amortized cost in the financial statement is closed to the fair value.
Fair value hierarchy
For those financial assets and financial liabilities which are measured subsequently at fair value,
grouped into Level 1 to 3 based on the degree to which the fair value is observable:
Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active
markets for identical assets or liabilities.
Level 2 fair value measurements are those derived from inputs other than quoted prices included
within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or
indirectly (i.e. derived from prices).
Level 3 fair value measurements are those derived from valuation techniques that include inputs
for the asset or liability that are not based on observable market data (unobservable inputs).
Page 80
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
X. OTHER SIGNIFICANT EVENTS - continued
2. Others - continued
2(2). Financial instruments and risk management - continued
2. Fair value - continued
Fair value hierarchy - continued
Unit: RMB
2010
Level 1 Level 2 Level 3 Total
-AFS financial assets
-Equity instrument 103,730,453.50 - - 103,730,453.50
Total 103,730,453.50 - - 103,730,453.50
Unit: RMB
2009
Level 1 Level 2 Level 3 Total
-Available-for-sale financial assets
-Equity instrument 160,853,050.30 - - 160,853,050.30
Total 160,853,050.30 - - 160,853,050.30
Fair value loss of financial assets recognized in other comprehensive income is
RMB31,894,893.67. (In 2009: the gain is RMB63,608,691.74)
3. Sensitivity analysis
The Group adopts sensitivity analysis techniques to analyse how the entity's profit and loss for the
period and owners' equity would have been affected by changes in the relevant risk variables that
were reasonably possible. As it is unlikely that risk variables will change in an isolated manner,
and the interdependence between risk variables will have significant effect on the amount
ultimately influenced by the changes in a single risk variable, the following items are based on the
assumption that each risk variable has changes on a stand-alone basis.
The reasonable changes in interest rate and exchange rate have little effect on the profit and
equity in the period.
The Group is exposed to the price risk arising from the financial assets which are measured at fair
value. Changes in the price of stock market may have the following influences:
Unit: RMB'000
2010 2009
Price fluctuation of the Effects on Effects on Effects on Effects on
Item stock market profit shareholders' equity profit shareholders’ equity
Available-for-sale Increasing 10% - 7,780 - 12,064
financial assets
Available-for-sale Decreasing 10% - (7,780) - (12,064)
financial assets
Page 81
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS
1. Currency funds
Unit: RMB
2010 2009
Exchange Exchange
Item Foreign Currency rate RMB Foreign Currency rate RMB
Cash:
RMB 85,094.66 1.0000 85,094.66 88,189.05 1.00 88,189.05
Cash deposit:
RMB 430,254,717.10 1.0000 430,254,717.10 330,297,821.25 1.00 330,297,821.25
USD 130.24 6.6227 862.54
Total -- -- 430,340,674.30 -- -- 330,386,010.30
2. Other receivables
(1)By categories:
Unit: RMB
2010 2009
Carrying amount Bad debt provision Carrying amount Bad debt provision
Categories Amount Proportion (%) Amount Proportion(%) Amount Proportion(%) Amount Proportion(%)
Individually
significant
receivables 70,000,000.00 100 - - 90,184,500.00 99 - -
Other insignificant
receivables 680,187.79 - - - 548,786.55 1 - -
Total 70,680,187.79 100 - - 90,733,286.55 100 - -
The Company considers other receivables of over 10 million as individually significant accounts.
The aging analysis of other receivables is as follows:
Unit: RMB
2010 2009
Bad debt Bad debt
Aging Amount Proportion(%) provision Carrying amount Amount Proportion(%) provision Carrying amount
Within 1 year 70,680,087.79 100 - 70,680,087.79 50,548,686.55 56 - 50,548,686.55
1-2 years 100.00 - - 100.00 - - - -
2-3 years - - - - 18,184,500.00 20 - 18,184,500.00
Above 3 years - - - - 22,000,100.00 24 - 22,000,100.00
Total 70,680,187.79 100 - 70,680,187.79 90,733,286.55 100 - 90,733,286.55
(2) There are no other receivables from shareholders holding over 5% (inclusive) of the Company
shares.
(3)Top five entities
Unit: RMB
Relationship with the
Name Amount Aging Proportion (%)
Company
Shanghai Jin Jiang Automobile 70,000,000.00 43
Related party Within 1 year
Service Co., Ltd.
Entity 2 Third party 76,650.00 Within 1 year 23
Shanghai JHJ Logistic 50,000.00 Within 1 year 34
Related party
Management Co., Ltd.
Entity 4 Third party 15,800.00 Within 1 year -
Entity 5 Third party 1,049.29 Within 1 year -
Total -- 70,143,499.29 -- 100
(4) Other receivables of related party.
Details of related party please refer to Note XI 20.
Page 82
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
3. Other current assets
Unit: RMB
Item Ending balance Opening balance
Entrusted loan 91,210,000.00 -
Other current assets represent that the Company provided entrusted loan to Shanghai Jinjiang
International Cold Logistics Development Co., Ltd. through China Minsheng Banking Corp. Ltd.,
details please refer to Note XI 19(3).
4. Available-for-sale financial assets
Unit: RMB
Item 2010 Fair value 2009 Fair value
Available-for-sale equity instruments 86,769,334.96 139,393,876.31
Available-for-sale financial assets are other listed companies' stocks held by the Company. The
2010 fair value was recognised based on year end market share price.
Page 83
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
5. Long-term equity investments
(1) Details of long-term equity investments are as follows:
Unit: RMB
Explanation of
Proportion the voting
of right not
ownership consistent with
Proportion of
interest held voting power proportion of Provision for Impair
Accounting Initial by the held by the ownership impairment ment
Investee method investments Opening balance Changes Closing balance entity(%) entity (%) interest loss loss Cash dividends
Shanghai Dazhong New Asia Co., Ltd. Equity method 84,628,129.42 100,937,251.82 (2,159,769.64) 98,777,482.18 49.5 50 Note 1 - - 11,650,016.27
40,254,477.70 113,410,820.93 1,515,896.15 114,926,717.08 The same as
JHJ International Transportation Co., Ltd. Equity method 50 the shares
- - 13,000,000.00
Shilian Jin Jiang Logistics Co., Ltd.
Equity method 3,012,675.00 - - - -- -- - - -
(Note 2)
52,000,000.00 52,000,000.00 - 52,000,000.00 The same as
JHJ Logistics Management Co., ltd. Cost method 65 the shares
- - 28,024,741.54
Shanghai Jin Jiang Automobile Service Co., 538,135,811.60 538,135,811.60 - 538,135,811.60 The same as
Cost method - - 133,155,993.61
Ltd. 95 the shares
Shanghai Jinjiang International Cold 71,250,000.00 95,000,000.00 (23,750,000.00) 71,250,000.00 The same as
Cost method - - -
Logistics Development Co., Ltd. (Note 3) 95 the shares
Shanghai Shang Hai Food Co., Ltd. 23,750,000.00 - 23,750,000.00 23,750,000.00 The same as
Cost method
(Note 3) 95 the shares
Sofitel Jin Jiang Oriental Hotel (Note 4) Cost method 16,555,237.81 16,555,237.81 (16,555,237.81) - -- -- - - -
746,253.00 746,253.00 - 746,253.00 The same as
Shanghai Global Paper Production Co., Ltd. Cost method 10 the shares
746,253.00 - -
47,649,967.00 47,649,967.00 - 47,649,967.00 The same as
Guotai Junan Securities Co., Ltd. Cost method <=5% the shares
- - 4,764,996.70
Guotai Junan Investment Management Co., 31,974,279.24 31,974,279.24 - 31,974,279.24 The same as
Cost method 2,500,000.00 - -
Ltd. <=5% the shares
650,000.00 650,000.00 - 650,000.00 The same as
Shanghai Citic-Jiading Industry Co., Ltd. Cost method <=5% the shares
650,000.00 - -
555,000.00 555,000.00 - 555,000.00 The same as
Shandong Guotai Co., Ltd. Cost method <=5% the shares
555,000.00 - -
Total -- 911,161,830.77 997,614,621.40 (17,199,111.30) 980,415,510.10 -- -- -- 4,451,253.00 - 190,595,748.12
Note 1: According to the entity's Articles of Association, the Company can hold 50% of the voting power on this entity.
Note2: The Company has finished its industry and commerce cancellation of registration this year.
Page 84
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
5. Long-term equity investments - continued
Note 3: Shanghai Shang Hai Food Co., Ltd. has been separated from Cold Logistics this year.
After the separation, the Company's investment cost to Cold Logistics is reduced to RMB71.25
million from RMB95 million, and the investment cost of the newly established Shanghai Shang
Hai Food Co., Ltd. is RMB23.75 million.
Note 4: During the year, the Group has transferred 1.87% of its interest in Sofitel Jin Jiang
Oriental Hotel to the Jin Jiang International (Group) Co., Ltd. at the consideration of
RMB17,583,797.00, and the investment income occurred is RMB1,011,279.19.
6. Investment property
(1) Investment property measured using the cost model
Unit: RMB
Item January 1, 2010 Additions Reductions December 31,2010
I.Cost 24,591,016.05 24,591,016.05
1.Buildings 24,591,016.05 - - 24,591,016.05
II.Accumulated depreciation 442,356.48 - 3,979,182.02
3,536,825.54
and accumulated amortisation
1.Buildings 3,536,825.54 442,356.48 - 3,979,182.02
III.Net 21,054,190.51 - - 20,611,834.03
1.Buildings 21,054,190.51 - - 20,611,834.03
IV.Provision for Impairment - - -
-
loss
1.Buildings - - - -
V.Net book value 21,054,190.51 - - 20,611,834.03
1.Buildings 21,054,190.51 - - 20,611,834.03
Provided for this year is amounted to RMB442,356.48.
Page 85
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
7. Fixed assets
(1)Fixed assets
Unit: RMB
Item January 1, 2010 Additions Reductions December 31, 2010
I.Cost: 74,678,243.39 270,711.00 (445,658.50) 74,503,295.89
Including: Buildings 60,235,578.11 - - 60,235,578.11
Plant & Machinery 5,314,470.10 8,100.00 (20,379.50) 5,302,190.60
Electronic equipment,
furniture and fixture 5,075,285.97 128,228.00 (425,279.00) 4,778,234.97
Transportation vehicles 160,223.90 - - 160,223.90
Hotel improvement 3,892,685.31 134,383.00 - 4,027,068.31
II. Accumulated depreciation: 28,361,611.49 2,997,549.94 (400,431.15) 30,958,730.28
Including: Buildings 20,348,634.84 1,580,302.73 - 21,928,937.57
Plant & Machinery 2,322,068.67 193,892.82 (17,680.05) 2,498,281.44
Electronic equipment,
furniture and fixture 3,731,679.47 393,243.26 (382,751.10) 3,742,171.63
Transportation vehicles 132,184.80 12,016.71 - 144,201.51
Hotel improvement 1,827,043.71 818,094.42 - 2,645,138.13
III. Net 46,316,631.90 - - 43,544,565.61
Including: Buildings 39,886,943.27 - - 38,306,640.54
Plant & Machinery 2,992,401.43 - - 2,803,909.16
Electronic equipment,
furniture and fixture 1,343,606.50 - - 1,036,063.34
Transportation vehicles 28,039.10 - - 16,022.39
Hotel improvement 2,065,641.60 - - 1,381,930.18
IV. Provision for impairment loss - - - -
Including: Buildings - - - -
Plant & Machinery - - - -
Electronic equipment,
furniture and fixture - - - -
Transportation vehicles - - - -
Hotel improvement - - - -
V. Net book value 46,316,631.90 - - 43,544,565.61
Including: Buildings 39,886,943.27 - - 38,306,640.54
Plant & Machinery 2,992,401.43 - - 2,803,909.16
Electronic equipment,
furniture and fixture 1,343,606.50 - - 1,036,063.34
Transportation vehicles 28,039.10 - - 16,022.39
Hotel improvement 2,065,641.60 - - 1,381,930.18
As at December 31, 2010, there is no restriction on title of fixed assets.
(1)Included in current year cost additions, acquisition of fixed assets is amounted to
RMB270,711.00 .
(2)Included in current year additions of accumulated depreciation, provided for this year is
amounted to RMB2,997,549.94 .
Page 86
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
8. Deferred tax assets and deferred tax liabilities
1. Presentation not offsetting deferred tax assets and deferred tax liabilities
(1) Recognised deferred tax assets and deferred tax liabilities
Unit: RMB
Item 2010 2009
Deferred tax assets:
Provision for impairment loss of assets 1,113,066.60 1,112,813.25
Other unpaid expenses 581,277.70 628,516.93
Total 1,694,343.60 1,741,330.18
Accumulated changes in fair value of
available-for-sale financial assets to other 31,330,231.78
comprehensive income 17,383,757.09
Total 17,383,757.09 31,330,231.78
(2) As at December 31, 2010, there are no unrecognised deferred tax assets.
(3) Temporary difference
Unit: RMB
Item Temporary difference
2010
Deductible temporary differences and deductible losses:
Provision for impairment loss 4,452,266.38
Other unpaid expenses 2,325,107.99
Total 6,777,374.37
Taxable temporary differences:
Accumulated changes in fair value of available-for-sale 69,535,028.38
financial assets to the comprehensive income
Total 69,535,028.38
2009
Deductible temporary difference and deductible losses:
Provision for impairment loss 4,451,253.00
Other unpaid expenses 2,514,067.69
Total 6,965,320.69
Taxable temporary differences:
Accumulated changes in fair value of available-for-sale
125,320,927.19
financial assets to the comprehensive income
Total 125,320,927.19
9. Other non-current assets
Unit: RMB
Item 2010 2009
Prepayment for investment 15,262,988.76 15,262,988.76
Total 15,262,988.76 15,262,988.76
The closing balance of RMB15,262,988.76 is prepayment to Guotai Junan Securities Co., Ltd. for
investment.
Page 87
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
10. Employee benefits payable
Unit: RMB
Opening Closing
Item balance Additions Reductions balance
I. Wages or salaries, bonus, allowance, subsidies - 14,706,606.08 (9,766,926.18) 4,939,679.90
II.Staff welfare - 759,205.09 (759,205.09) -
III.Social security contributions - 1,692,991.60 (1,692,991.60) -
Including: Premiums or contributions on Medical 549,421.23 (549,421.23) -
-
insurance
Basic pension insurance - 1,006,215.10 (1,006,215.10) -
Unemployment insurance - 91,568.25 (91,568.25) -
Work injury insurance - 22,893.51 (22,893.51) -
Maternity insurance - 22,893.51 (22,893.51) -
IV.Housing fund - 349,923.50 (349,923.50) -
V.Dismiss benefits - - - -
VI.Others 2,723,437.25 166,533.61 (496,997.57) 2,392,973.29
Including: Union fund and employee education fund 210,183.22 166,533.61 (309,051.25) 67,665.58
Subsidy for internal retired staffs 2,513,254.03 - (187,946.32) 2,325,307.71
Total 2,723,437.25 17,675,259.88 (13,066,043.94 ) 7,332,653.19
No amount in arrear is included in employee benefits payable.
Union fund and employee education fund are amounted to RMB67,665.58.
11.Other payable
(1) Other payable breakdown
Unit: RMB
Item 2010 2009
Jin Jiang Group Company 37,659,274.81 -
Others 2,841,204.37 8,522,309.15
Total 40,500,479.18 8,522,309.15
(2) There are no other payables from shareholders holding over 5% (inclusive) of the Company
shares.
(3) Details of accounts receivable of related parties please refer to XI 20.
12.Other current liabilities
Unit: RMB
Item 2010 2009
Receipt in advance of stock transfer 79,409,972.78 -
Total 79,409,972.78 -
Other current liabilities are receipt in advance of stock transfer of its subsidiary Shanghai Jinjiang
International Cold Logistics Development Co., Ltd.
Page 88
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
13. Capital reserve
Unit: RMB
Item Opening balance Additions Reductions Closing balance
2010:
Share premium 266,218,226.90 - - 266,218,226.90
Including: Capital invested by investors 266,218,226.90 - - 266,218,226.90
Other comprehensive income(Note 1) 93,990,695.40 - (41,839,424.11) 52,151,271.29
Other capital reserve 113,847,436.01 - - 113,847,436.01
Including: Transfer from capital reserve 113,847,436.01 - - 113,847,436.01
under the previous accounting
system (Note 2)
Total 474,056,358.31 - (41,839,424.11) 432,216,934.20
2009:
Share premium 266,218,226.90 - - 266,218,226.90
Including: Capital invested by investors 266,218,226.90 - - 266,218,226.90
Other comprehensive income(Note 1) 44,615,889.90 55,156,261.40 (5,781,455.90) 93,990,695.40
Other capital reserve 113,847,436.01 - - 113,847,436.01
Including: Transfer from capital reserve 113,847,436.01 - - 113,847,436.01
under the previous accounting
system (Note 2)
Total 424,681,552.81 55,156,261.40 (5,781,455.90) 474,056,358.31
Note1: Details please refer to Notes XI, 17.
Note2: It can be used to increase the share capital and reverse the consolidation difference
generated by business combination under the same control.
14. Unappropriated profit
Unit: RMB
Item Amount Appropriation or
distribution
2010:
At beginning of year 341,446,110.42
Add:Net profit for the year 203,937,859.86
Less:Appropriation to statutory surplus reserve 20,393,785.98 Note 1
Dividends payable 165,483,032.10 Note 2
At end of year 359,507,152.20 Note 3
2009: --
At beginning of year 288,230,406.55 --
Add:Net profit for the year 242,998,595.52 --
Less:Appropriation to statutory surplus reserve 24,299,859.55 Note 1
Dividends payable 165,483,032.10 Note 2
At end of year 341,446,110.42 --
Note 1: Appropriation to statutory surplus reserve
According to the Articles of Association, the Company is required to transfer 10% of its
net profit to the statutory surplus reserve. The transfer may be ceased if the balance of
statutory surplus reserve has reached 50% of the Company registered capital.
Page 89
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
14. Unappropriated profit - continued
Note 2: Dividends payable
As approved by shareholders’ meeting dated June 18, 2010, on the basis of 551,610,107
issued shares (with the par value of RMB1 per share), dividends of RMB3 (before tax) per
each ten shares were distributed to all the shareholders.
Note 3: Cash dividends after the balance sheet date
According to a proposal of the board of directors on March 29, 2011, on the basis of
551,610,107 issued shares (with the par value of RMB1 per share), dividends of RMB3
(before tax) for every 10 shares will be distributed to all the shareholders. The above
proposal regarding dividends distribution is yet to be approved by a shareholders’
meeting.
15. Operating income and operating costs
(1) Operating income and operating costs
Unit: RMB
Item 2010 2009
Principal operating income 24,297,104.83 20,783,121.61
Operating costs 3,834,512.90 3,535,007.96
(2) Principal operating activities (by industry)
Unit: RMB
2010 2009
Categories Operating income Operating costs Operating income Operating costs
Hotel and relevant business 24,297,104.83 3,834,512.90 20,783,121.61 3,535,007.96
Total 24,297,104.83 3,834,512.90 20,783,121.61 3,535,007.96
16. Investment income
(1)Details of invest income are as follows:
Unit: RMB
Item 2010 2009
Dividend from investment carried at cost 165,945,731.85 211,089,406.17
Gains recognised under equity method 24,123,819.71 23,031,922.20
Income from abandon the right of capital injection 1,040,029.98 -
Gains on available-for-sale financial assets 2,065,160.14 1,945,650.00
Gains on disposal of held-for-trading financial assets 911,487.22 758,121.25
Gains on disposal of available-for-sale financial assets 14,878,957.15 18,867,029.29
Total 208,965,186.05 255,692,128.91
Page 90
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
16. Investment income - continued
(2)Significant investment income at cost method:
Unit: RMB
Investee 2010 2009 The reason of fluctuation
Shanghai Jin Jiang Automobile The distributed profit
Service Co., ltd. 133,155,993.61 134,939,617.48 decreased for the year 2010
JHJ Logistics Management Co., Ltd. The distributed profit
28,024,741.54 61,750,000.00 decreased for the year 2010
Guotai Junan Securities Co., Ltd. The distributed dividends
4,764,996.70 14,294,990.10 decreased for the year 2010
Total 165,945,731.85 210,984,607.58 --
(3)Significant investment income at equity method:
Unit: RMB
The reason of
Investee 2010 2009 fluctuation
Business volume
Shanghai Dazhong New Asia Co., Ltd. 9,607,923.56 12,438,303.29 decreased slightly
this year
Business volume
JHJ International Transportation Co., Ltd. 14,515,896.15 10,593,618.91 decreased due to the
financial crisis
Total 24,123,819.71 23,031,922.20 --
17. Other comprehensive income
Unit: RMB
Item 2010 2009
1.Fair value gain (loss) on of available-for-sale financial assets (38,161,026.28) 73,541,681.87
Less:Income tax relating to available-for-sales financial assets (9,540,256.57) 18,385,420.47
Amounts previously recognised in other comprehensive income
being reclassified to profit or loss 13,218,654.40 5,781,455.90
Sub total (41,839,424.11) 49,374,805.50
Total (41,839,424.11) 49,374,805.50
Page 91
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
18. Supplementary information to the cash flow statements
(1)Supplementary information to the cash flow statements
Unit: RMB
Supplementary information 2010 2009
1. Reconciliation of net profit to cash flow from operating
activities
Net profit 203,937,859.86 242,998,595.52
Add:Depreciation of fixed assets 2,997,549.94 3,134,702.17
Amortization of intangible assets 36,744.20 36,744.00
Depreciation and amortization of investment property 442,356.48 442,356.48
Losses on disposal of fixed assets, intangible assets and
43,590.61 -
other long-term assets (less gains)
Gains arising from investment (208,965,186.05) (255,692,128.91)
Decrease of deferred tax assets 46,986.58 49,775.40
(Increase) decrease in inventories (4,366.33) (5,453.42)
Decrease (increase) in operating receivables (291,314.13) 666,420.93
Increase in operating payables 816,799.50 317,760.72
Net cash flow from operating activities (938,979.34) (8,051,227.11)
2. Net changes in cash and cash equivalents
Closing balance of cash and cash equivalents 430,340,674.30 330,386,010.30
Less:opening balance of cash and cash equivalents 330,386,010.30 260,262,892.62
Net increase in cash and cash equivalents 99,954,664.00 70,123,117.68
(2) Cash and cash equivalents
Unit: RMB
Item 2010 2009
Cash 430,340,674.30 330,386,010.30
Including: Cash on hand 85,094.66 88,189.05
Bank deposits that can be readily withdrawn 430,255,579.64 330,297,821.25
Closing balance of cash and cash equivalents 430,340,674.30 330,386,010.30
Page 92
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
19. Significant transactions between the Company and related parties in the year
(1) Purchases or sales of goods, rendering or receiving of services
Unit: RMB
2010 2009
Name of related parties Item Nature Amount Percentage (%) Amount Percentage (%)
Jin Jiang Group and its Purchases or sales of Purchase goods - - 22,549.00 1
subsidiaries goods
Jin Jiang Group Companies Receiving services Management fee 692,529.29 (Note 1) 539,015.18 Note 1
Consideration of share
transfer of Sofitel Jin
Jin Jiang Group Share transfer Jiang Oriental Hotel
17,583,797.00 (Note 2) - -
(Note 2)
Pricing principle and process of decision-making: The Company set price according to the agreement on integrated service, products purchase and
sales contracts signed by related parties. Significant related party transactions need approval of the board of directors.
Note 1: The management fee paid to Jin Jiang Group Companies is 2% of hotel income plus 4% of hotel and profit, as rewarding the service provided,
including general administration, marketing, purchase and etc.
Note 2: During the year, the Company has transferred 1.87% of its interest in Sofitel Jin Jiang Oriental Hotel to the Jin Jiang International (Group)
Co., Ltd. at the consideration of RMB17,583,797.00, and the investment income occurred is RMB1,011,279.19.
(2)Leasing arrangements
Rental expenses Unit: RMB
Recognition criteria for rental Effect to the
Leaser Leasee Asset for leasement Rental expenses
expenses Company
Jin Jiang Group The Company Building 116,232.00 Rental contract Insignificant
The Company need not pay for the rental expenses regarding parts of house leased from Jin Jiang Group. The rental expenses should be recognized
as RMB1,560,000.00 in the current year assuming the original price is still effective.
Page 93
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
19. Significant transactions between the Company and related parties in the year- continued
(3)Provision of finance
Unit: RMB
Related party Amount Start date End date Ending balance Note
Advanced to
Shanghai Wusong luoji Refrigerated Co., Ltd. 54,210,000.00 July 16, 2010 July 16, 2011 54,210,000.00 Note
Shanghai Jinjiang International Cold Logistics 37,000,000.00 July 16, 2010 July 16, 2011 37,000,000.00 Note
Development Co., Ltd.
Note: This is the entrusted loan provided to subsidiaries with an annual interest rate of 0.36%.
Page 94
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2010
XI. NOTES TO THE COMPANY’S FINANCIAL STATEMENTS - continued
20. Amount due to/from related parties
Unit: RMB
Item Related parties 2010 2009
Other receivables Shanghai Wusong Luoji Refrigeration Co.,
Ltd.(Note) - 18,184,500.00
Other receivables JHJ Logistics Management Co., Ltd. 50,000.00 343,960.36
Other receivables Shanghai Jinjiang International Cold
Logistics Development Co., Ltd. (Note) - 22,000,000.00
Other receivables Shanghai Jin Jiang Automobile Service
Co., Ltd. (Note) 70,000,000.00 50,000,000.00
Advances to suppliers Jin Jiang Group Companies - 23,600.00
Other payables Jin Jiang Group Companies 37,659,274.81 431,073.55
The amount due to/from related parties doesn't include the entrusted loans to the subsidiaries
through the bank as illustrated in Note XI 19 (3).
Note: It represents the borrowings to the subsidiaries without interest bearing.
XII. APPROVAL OF FINANCIAL STATEMENTS
The Company and consolidated financial statements were approved by the board of directors and
authorized for issue on March 29, 2011.
Page 95
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FOR THE YEAR ENDED DECEMBER 31, 2010
SUPPLEMENTARY INFORMATION
SUPPLEMENTARY INFORMATION
1. Extraordinary gains and losses
Unit: RMB
Item Amount Note
Excluding
non-operating income
Profit or loss on disposals of non-current assets 1,819,093.25
arising from disposal of
operational vehicles
Government grants recognised in profit and loss for the current year
(except government grants that is highly business related and 2,786,854.62 --
determined based on a fixed scale according to the national unified
standard).
Interest income recognised in profit and loss for the current year from
--
non-financial companies.
Investment income from changes in fair value of held-for-trading
financial assets and liabilities and disposals of financial assets,
17,579,725.69 --
liabilities and available-for-sale financial assets except effective
hedging transactions related to the Group's normal business
Other non-operating net income. 5,491,112.64 --
Tax effect of non-recurring profit or loss (6,331,603.61) --
Net profit attributable to minority interest (after tax) (1,001,498.67) --
Total 20,343,683.92 --
2. Return on net assets and earnings per share (“EPS”)
The calculation of return on net assets and EPS has been prepared by Shanghai Jin Jiang International
Industrial Investment Co., Ltd in accordance with Information Disclosure and Presentation Rules for
Companies Making Public Offering No. 9 – Calculation and Disclosure of Return on Net Assets and
Earnings per Share (Revised 2010) issued by China Securities Regulatory Commission.
Weighted average rate of return EPS
Profit for the reporting period
on net assets (%) Basic Diluted
Calculated based on net profit 14.36 0.515 N/A
attributable to ordinary equity
holders
Calculated based on net profit 13.33 0.478 N/A
attributable to ordinary equity
holders after extraordinary gains
and losses
SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD.
FOR THE YEAR ENDED DECEMBER 31, 2010
SUPPLEMENTARY INFORMATION
3. Analysis of changes in financial statement items
Unit: RMB
Change
Item 2010 2009 by % Cause for the changes
New loans of 130 million this year increased the cash
1 Currency funds 757,555,245.06 549,074,409.21 38% inflow from financing activities and advanced
consideration for share transfer and increased equity.
Advances to The balance increased as the Group acquired taxis and
2 69,163,662.16 56,922,816.63 22%
suppliers operational licenses at year end.
Decrease of other receivable is mainly due to the
3 Other receivable 28,163,555.77 53,866,096.09 -48% collection of amount 29 million from Shanghai Jin Jiang
Public Traffic Co., Ltd.
Available-for-sale Decrease of available-for-sale financial assets is mainly
4 103,730,453.50 160,853,050.30 -36%
financial assets due to the decrease of the market share price.
Increase of fixed assets is mainly due to purchase of
5 Fixed assets 907,874,298.88 746,495,416.64 22%
operational taxi including Expo taxi.
Increase of accounts payable is mainly due to the
6 Accounts payable 60,870,540.61 51,298,880.63 19%
increase of purchasing oils.
Deferred income Change of fair value in AFS financial assets is mainly
7 21,363,965.91 36,401,815.26 -41%
tax liabilities due to the decrease of deferred income tax liabilities.
Non-operating In 2009, the Group disposed the Public Traffic business,
8 24,672,409.27 32,024,337.44 -23%
income which resulted in the decrease in subsidy income.
