上工申贝（集团）股份有限公司 2010 年半年度报告
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上工申贝（集团）股份有限公司
600843
900924
2010 年半年度报告上工申贝（集团）股份有限公司 2010 年半年度报告
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目录
一、重要提示............................................................... 2
二、公司基本情况........................................................... 2
三、股本变动及股东情况..................................................... 4
四、董事、监事和高级管理人员情况........................................... 5
五、董事会报告............................................................. 5
六、重要事项............................................................... 9
七、财务报告.............................................................. 15
八、备查文件目录.......................................................... 94上工申贝（集团）股份有限公司 2010 年半年度报告
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一、重要提示
(一) 本公司董事会、监事会及其董事、监事、高级管理人员保证本报告所载资料不存在
任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个
别及连带责任。
(二) 公司全体董事出席董事会会议。
(三) 公司半年度财务报告未经审计。
(四) 公司董事长兼CEO 张敏先生、总经理马民良先生及会计机构负责人高莉莉女士声明：
保证半年度报告中财务报告的真实、完整。
(五) 本公司不存在被控股股东及其关联方非经营性占用资金情况
(六) 本公司不存在违反规定决策程序对外提供担保的情况
二、公司基本情况
(一) 公司信息
公司的法定中文名称 上工申贝（集团）股份有限公司
公司的法定中文名称缩写 上工申贝
公司的法定英文名称 SGSB GROUP CO.,LTD.
公司的法定英文名称缩写 SGSB
公司法定代表人 张敏
(二) 联系人和联系方式
董事会秘书 证券事务代表
姓名 张一枫 周勇强
联系地址
上海市浦东新区世纪大道1500
号东方大厦12 楼
上海市浦东新区世纪大道1500
号东方大厦12 楼
电话 021-68407515 021-68407700-728
传真 021-63302939 021-63302939
电子信箱 zyf@sgsbgroup.com zyq@sgsbgroup.com
(三) 基本情况简介
注册地址 上海市浦东新区罗山路1201 号
注册地址的邮政编码 200135
办公地址 上海市浦东新区世纪大道1500 号东方大厦12 楼
办公地址的邮政编码 200122
公司国际互联网网址 http://www.sgsbgroup.com
电子信箱 sgsb@sgsbgroup.com
(四) 信息披露及备置地点
公司选定的信息披露报纸名称 《上海证券报》、香港《商报》
登载半年度报告的中国证监会指定网站的网址 http://www.sse.com.cn
公司半年度报告备置地点 公司办公室
(五) 公司股票简况
公司股票简况
股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称
A 股 上海证券交易所 上工申贝 600843 上工股份、工缝股份
B 股 上海证券交易所 上工B 股 900924 工缝B 股上工申贝（集团）股份有限公司 2010 年半年度报告
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(六) 公司其他基本情况
公司首次注册登记日期 1993 年12 月16 日
公司首次注册登记地点 上海市工商行政管理局
公司变更注册登记日期 2008 年12 月31 日
公司变更注册登记地点 上海市工商行政管理局
企业法人营业执照注册号 310000400080303（市局）
税务登记号码 国地税沪字310115132210544
最近一次变更
组织机构代码 13221054-4
公司聘请的会计师事务所名称 立信会计师事务所有限公司
公司聘请的会计师事务所办公地址 上海市南京东路61 号4 楼
公司聘请的法律顾问 上海市震旦律师事务所
公司聘请的法律顾问办公地址 上海市四川北路1688 号16 楼
(七) 主要财务数据和指标
1、主要会计数据和财务指标
单位:元 币种:人民币
本报告期末 上年度期末
本报告期末比上年度
期末增减(%)
总资产 1,647,797,852.04 1,978,380,848.91 -16.71
所有者权益（或股东权益） 520,296,846.60 552,473,990.55 -5.82
归属于上市公司股东的每
股净资产（元／股）
1.1591 1.2308 -5.82
报告期（1－6 月） 上年同期
本报告期比上年同期
增减(%)
营业利润 -5,962,694.91 -139,672,708.17 不适用
利润总额 8,407,736.78 -140,547,808.17 不适用
归属于上市公司股东的净
利润
3,662,614.03 -131,415,724.73 不适用
归属于上市公司股东的扣
除非经常性损益的净利润
-10,054,050.49 -131,145,074.21 不适用
基本每股收益(元) 0.0082 -0.2928 不适用
扣除非经常性损益后的基
本每股收益(元)
-0.0224 -0.2922 不适用
稀释每股收益(元) 0.0082 -0.2928 不适用
加权平均净资产收益率
(%)
0.6608 -29.6625 增加30.32 个百分点
经营活动产生的现金流量
净额
-79,958,287.28 -87,145,555.56 不适用
每股经营活动产生的现金
流量净额（元）
-0.1781 -0.1941 不适用
2、非经常性损益项目和金额
单位：元 币种：人民币
非经常性损益项目 金额
非流动资产处置损益，包括已计提资产减值准备
的冲销部分
8,024,000.78
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）
967,681.00
除同公司正常经营业务相关的有效套期保值业369,053.79上工申贝（集团）股份有限公司 2010 年半年度报告
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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
除上述各项之外的其他营业外收入和支出 5,378,749.91
所得税影响额 -24,152.37
少数股东权益影响额（税后） -998,668.59
合计 13,716,664.52
三、股本变动及股东情况
(一) 股份变动情况表
报告期内，公司股份总数及股本结构未发生变化。
(二) 股东和实际控制人情况
1、股东数量和持股情况
单位：股
报告期末股东总数 45,181 户，其中A 股股东14,836 户，B 股股东30,345 户
前十名股东持股情况
股东名称
股东
性质
持股
比例
(%)
持股总数
报告期内增
减
持有有限售条
件股份数量
质押或冻结
的股份数量
上海市浦东新区国有资产
监督管理委员会
国家 24.44 109,719,658 0 0 无
上海国际信托有限公司
国有
法人
1.34 6,020,921 -8,926,450 0 未知
中国长城资产管理公司 国家 1.23 5,530,514 0 0 未知
FIRST SHANGHAI
SECURITIES LTD.
境外
法人
0.91 4,105,386 -200,000 0 未知
SHK NOM.LTD-CLTS OF SHK
INV.SER.
境外
法人
0.66 2,940,829 1,059,600 0 未知
SHENYIN WANGUO
NOMINEES(H.K.)LTD.
境外
法人
0.50 2,239,192 -22,100 0 未知
SCBHK A/C KG INVESTMENTS
ASIA LIMITED
境外
法人
0.48 2,142,615 -377,060 0 未知
UBS CUSTODY SERVICES
SINGAPORE PTE.LTD.
境外
法人
0.46 2,066,933 2,066,933 0 未知
GUOTAI JUNAN SECURITIES
（HONG KONG）LIMITED
境外
法人
0.36 1,623,418 -293,699 0 未知
上海三毛企业（集团）股
份有限公司
国有
法人
0.31 1,400,000 0 0 未知
前十名无限售条件股东持股情况
股东名称
持有无限售条件股份的数
量
股份种类及数量
上海市浦东新区国有资产监督管理委
员会
109,719,658 人民币普通股 109,719,658
上海国际信托有限公司 6,020,921 人民币普通股 6,020,921
中国长城资产管理公司 5,530,514 人民币普通股 5,530,514
FIRST SHANGHAI SECURITIES LTD. 4,105,386 境内上市外资股 4,105,386
SHK NOM.LTD-CLTS OF SHK INV.SER. 2,940,829 境内上市外资股 2,940,829上工申贝（集团）股份有限公司 2010 年半年度报告
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SHENYIN WANGUO NOMINEES(H.K.)LTD. 2,239,192 境内上市外资股 2,239,192
SCBHK A/C KG INVESTMENTS ASIA
LIMITED
2,142,615 境内上市外资股 2,142,615
UBS CUSTODY SERVICES SINGAPORE
PTE.LTD.
2,066,933 境内上市外资股 2,066,933
GUOTAI JUNAN SECURITIES（HONG KONG）
LIMITED
1,623,418 境内上市外资股 1,623,418
上海三毛企业（集团）股份有限公司 1,400,000 人民币普通股 1,400,000
上述股东关联关系或一致行动的说明
未知前十名流通股股东之间是否存在关联关系或一致行动人的
情况
2、控股股东及实际控制人变更情况
本报告期内公司控股股东及实际控制人没有发生变更。
四、董事、监事和高级管理人员情况
(一) 董事、监事和高级管理人员持股变动
报告期内公司董事、监事、高级管理人员持股未发生变化。
(二) 新聘或解聘公司董事、监事、高级管理人员的情况
1、聘任情况
（1）2010 年4 月27 日，公司召开一届五次职代会，选举增补王杰先生为公司第六届
监事会职工监事。
（2）2010 年5 月28 日，公司召开2009 年度股东大会，审议通过孙刚先生为公司董事，
增补孙大闵先生为公司监事。
2、离任情况
2010 年3 月24 日，沈逸波先生因工作变动，不再担任公司董事职务。
五、董事会报告
(一) 报告期内整体经营情况的讨论与分析
面临金融危机的影响，公司上下团结一致，努力落实各项应对危机的措施，并积极做
好市场复苏的准备。
公司海外的缝制设备制造企业在去年年末实现债务重组、收缩调整后，今年上半年度
已经扭亏为盈；公司在国内的缝纫机制造企业也因采取合并重整和改变生产方式等措施
后，大幅度地降低了亏损额。2010 年上半年度，公司经济运行质量同期比较，明显得到
改善。
报告期内，公司营业收入85,500.19 万元，营业利润-596.27 万元，净利润为366.26
万元，其中，DA 公司营业收入41,030.79 万元，营业利润887.48 万元，净利润797.32
万元。
2010 年1－6 月，公司生产的工业机为9,108 台，同比下降16.66％，销售的工业机
为30,686 台，同比增长112.27％，其中DA 公司生产和销售的工业机分别为6,919 台和
5,566 台，同比增长156.26％和75.09％；通过定牌生产的蝴蝶牌家用缝纫机出口量达到
253,352 台,同比增长5.67%。报告期内，公司出口创汇（不含DA 公司）4,549 万美元，
与上年同期相比增长14.44%。上工申贝（集团）股份有限公司 2010 年半年度报告
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1. 报告期末公司资产负债表项目大幅变动情况及原因
单位：元 币种：人民币
项目 本报告期末 上年期末 增减金额 增减％ 原因分析
货币资金 292,288,164.86 500,436,327.04 -208,148,162.18 -41.59 注1
应收票据 2,840,040.00 7,752,100.00 -4,912,060.00 -63.36 注2
其他流动资产 2,123,371.73 1,327,268.22 796,103.51 59.98 注3
应付票据 0.00 2,808,428.76 -2,808,428.76 -100.00 注4
预收帐款 81,393,759.50 40,261,334.94 41,132,424.56 102.16 注5
应付职工薪酬 82,781,355.11 156,133,546.73 -73,352,191.62 -46.98 注6
应交税费 3,521,135.71 6,983,942.02 -3,462,806.31 -49.58 注7
其他应付款 129,990,327.21 277,037,653.23 -147,047,326.02 -53.08 注8
其他流动负债 280,230.99 700,031.40 -419,800.41 -59.97 注9
外币报表折算差额 -47,923,737.43 -16,065,589.05 -31,858,148.38 -198.30 注10
注1：主要系欧洲子公司本期归还股东贷款及公司支付辞退福利。
注2：系本期收到银行承兑汇票款项。
注3：系本期增加的以后期间承担的租金和保险费等。
注4：系银行承兑汇票到期支付。
注5：主要系本期增加未完工产品的预收款。
注6：主要系本期支付辞退福利。
注7：主要系本期支付应交所得税而减少期末余额。
注8：主要系欧洲子公司本期归还股东贷款。
注9：主要系本期转销原记录的利息及租金费用所致。
注10：系欧元汇率变动影响所致。
2.报告期公司损益表项目大幅变动情况及原因
单位：元 币种：人民币
项目 本报告期 上年同期 增减金额 增减% 原因分析
财务费用 15,736,223.33 29,644,028.27 -13,907,804.94 -46.92 注1
资产减值损失 -12,146,901.05 -805,211.24 -11,341,689.81 -1,408.54 注2
公允价值变动收益 -82,143.59 872,969.06 -955,112.65 -109.41 注3
投资收益 7,809,420.47 15,351,195.68 -7,541,775.21 -49.13 注4
营业利润 -5,962,694.91 -139,672,708.17 133,710,013.26 95.73 注5
营业外收入 16,921,154.13 1,345,555.28 15,575,598.85 1,157.56 注6
所得税 2,537,329.49 1,071,898.23 1,465,431.26 136.71 注7
少数股东损益 2,207,793.26 -10,203,981.67 12,411,774.93 121.64 注8
其他综合收益 -39,716,014.75 8,646,418.29 -48,362,433.04 -559.33 注9
注1：主要系同比减少利息支出所致。
注2：主要系本期存货价值回升调整存货跌价准备计提数及因收回超信用额度的应收账款而调整坏账准备的计提数所
致。
注3：主要系同比减少交易性金融资产公允价值的变动收益所致。
注4：主要系同比减少成本法确认的投资收益所致。上工申贝（集团）股份有限公司 2010 年半年度报告
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注5：主要系主营业务毛利额同比大幅增加及期间费用同比下降等因素所致。
注6：主要系同比增加固定资产处置收益所致。
注7: 主要系本期盈利所致。
注8: 主要系上年同期非全资子公司大幅亏损所致。
注9: 主要系外币财务报表折算差额所致。
3.报告期内公司现金流量表项目大幅变动情况及原因
单位：元 币种：人民币
项目 本报告期 上年同期 增减金额 增减比例（％) 原因分析
投资活动产生的现金流量净
额
41,453,613.37 20,558,532.05 20,895,081.32 101.64 注1
筹资活动产生的现金流量净
额
-139,750,409.39 -7,117,350.80 -132,633,058.59 -1,863.52 注2
汇率变动对现金的影响额 -26,757,773.91 -551,919.60 -26,205,854.31 -4,748.13 注3
注1：主要系同比增加处置固定资产收到的现金及同比减少出售股权收到现金等所致。
注2：主要系本期归还股东贷款及同比减少银行短期借款所致。
注3：主要系欧元汇率变动影响所致。
(二) 公司主营业务及其经营状况
1、主营业务分行业、产品情况表
单位:元 币种:人民币
分行业或
分产品
营业收入 营业成本
营业利润
率
(%)
营业收入
比上年同
期增减
(%)
营业成本
比上年同
期增减
(%)
营业利润率比
上年同期增减
(%)
分行业
缝制及物
料传输设
备
639,723,859.42 492,267,322.57 23.05 14.60 -0.59
增加11.76 个
百分点
出口贸易 122,012,491.11 119,877,687.16 1.75 9.73 10.40
减少0.59 个
百分点
影像材料 59,192,967.22 52,816,662.40 10.77 20.50 19.09
增加1.06 个
百分点
办公机械 12,153,562.62 11,132,938.33 8.40 -12.27 -15.00
增加2.94 个
百分点
其他 2,627,066.68 1,135,217.07 56.79 -0.89 13.17
减少5.37 个
百分点
合计 835,709,947.05 677,229,827.53 18.96 13.70 2.26
增加9.06 个
百分点
其中：报告期内上市公司向控股股东及其子公司销售产品和提供劳务的关联交易总金额0 万元。
2、主营业务分地区情况
单位:元 币种:人民币
地区 营业收入 营业收入比上年增减(%)
境内 425,402,039.77 11.46
境外 410,307,907.28 16.11上工申贝（集团）股份有限公司 2010 年半年度报告
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3、参股公司经营情况（适用投资收益占净利润10％以上的情况）
单位:元 币种:人民币
公司名称 经营范围 净利润
参股公司贡献的投
资收益
占上市公司净利润
的比重(%)
上海富士施乐有
限公司
复印机生产及销售 34,115,110.58 6,465,162.65 176.52
4、利润构成与上年度相比发生重大变化的原因分析
本期利润构成同比较大变化的原因主要系本期市场复苏，公司国内外子公司经上年末
收缩调整后，公司主营业务收入、主营业务毛利率同比大幅上升，期间费用同比下降，使
公司同比扭亏为盈。
5、公司在经营中出现的问题与困难
公司缝制设备主业国内部分的基础比较薄弱，加之离岗必养员工比例仍较高，导致总
体盈利能力不强。对此，公司将继续加强主业的整合重组，融合同行业和社会资源，调整
结构，促进转型，努力实现发展方式转变，创造条件，走出主业经济运营的低谷。
（1）加强海外企业的管理，进一步提升DA 公司的经营业绩；
（2）加快速度，将适应亚洲市场需求的DA 公司的产品，转移到国内组织生产；
（3）积极稳妥地推进缝纫机战略合作项目实施，调整产品的加工地域和加工方式；
（4）继续抓好开源节流，落实成本费用控制措施，实现降本增效目标。
(三) 公司投资情况
1、募集资金使用情况
报告期内，公司无募集资金或前期募集资金使用到本期的情况。
2、非募集资金项目情况
报告期内，公司无非募集资金投资项目。
(四) 公司财务状况、经营成果分析
1、完成盈利预测的情况
单位:元 币种:人民币
盈利预测（本报告期） 本报告期实际数
主营收入 0 835,709,947.05
利润总额 0 8,407,736.78
净利润 0 3,662,614.03
2、完成经营计划情况
单位:元 币种:人民币
原拟订的本报告期经营计划 本报告期实际数
收入 0 835,709,947.05
成本及费用 0 879,108,647.59上工申贝（集团）股份有限公司 2010 年半年度报告
9
(五) 预测年初至下一报告期期末的累计净利润可能为亏损或者与上年同期相比发生大幅
度变动的警示及说明
因公司下属缝制设备主要制造企业经过前期整合，市场适应能力有所提高；缝制机械
行业逐步回暖，复苏势头继续上扬，受此影响，预计公司下一报告期期末的累计净利润为
盈利。
六、重要事项
(一) 公司治理的情况
公司严格按照《公司法》、《证券法》和中国证监会《上市公司治理准则》的要求，
结合公司实际情况，重视不断完善法人治理结构，规范公司运作。
报告期内，公司更换了一名董事，增补了二名监事；根据上海证券交易所“上市公司
董事选任与行为指引”，董事接受了监事会对其履职情况的考评；公司股东大会、董事会、
监事会及经理层相互协调、互相制衡，公司机构设置及职能的分工符合内控制度的要求。
报告期内，公司重视内部制度建设，在制度贯彻执行中注意不断健全和完善，上半年
度，除审议通过了“年度信息披露重大差错责任追究制度”、“外部信息使用人管理制度”、
“内幕信息知情人管理制度”外，公司还新订、修订了十四项制度，公司法人治理结构日
趋完善。
(二) 报告期实施的利润分配方案执行情况
报告期内，公司无实施利润分配方案执行情况。
(三) 半年度拟定的利润分配预案、公积金转增股本预案
公司半年度不进行利润分配，也不进行资本公积金转增股本。
(四) 报告期内现金分红政策的执行情况
1、公司现金分红政策内容
公司“章程”第一百五十五条规定，“公司利润分配政策：依据国家有关规定，对境
内、境外审计的结果，贯彻执行“孰低分配”的原则；可以采取现金或者股票方式支付股
东股利；向境内上市外资股股东支付股利时，以人民币计价，以外币支付。
公司可以进行中期现金分红。公司最近三年以现金方式累计分配的利润应不少于最近
三年实现的年均可分配利润的百分之三十。公司上一会计年度内盈利但未提出现金利润分
配预案时，应在年度报告中详细说明未分红的原因，未用于分红的资金留存公司的用途”。
2、报告期内现金分红实施情况
报告期内，鉴于母公司可供分配利润为负数，公司不能进行现金分红。
(五) 重大诉讼仲裁事项
本报告期公司无重大诉讼、仲裁事项。
(六) 破产重整相关事项
本报告期公司无破产重整相关事项。上工申贝（集团）股份有限公司 2010 年半年度报告
10
(七) 公司持有其他上市公司股权、参股金融企业股权情况
1、证券投资情况
序
号
证券品
种
证券代
码
证券简
称
最初投资成
本
（元）
持有数量
（股）
期末账面价
值
（元）
占期末
证券投
资比例
（％）
报告期损益
（元）
1 基金 160402 华安A 股 100,000.00 399,785.25 279,849.68 86.36 -102,744.80
2 期末持有的其他证券投资 51,600.00 2,000.00 44,200.00 13.64 -7,400.00
报告期已出售证券投资损益 / / / / 118,715.43
合计 151,600.00 / 324,049.68 100 8,570.63
2、持有其他上市公司股权情况
单位：元
证券代
码
证
券
简
称
最初投资成本
占该公
司股权
比例
（％）
期末账面价值报告期损益
报告期所有
者权益变动
会计
核算
科目
股份
来源
600637
广
电
信
息
67,600.00 <5 169,585.65 -28,409.22
可供
出售
金融
资产
法人
股投
资
600689
上
海
三
毛
1,779,800.00 <5 5,758,174.20 360,483.16 -625,888.50
可供
出售
金融
资产
法人
股投
资
合计 1,847,400.00 / 5,927,759.85 360,483.16 -654,297.72 / /
3、持有非上市金融企业股权情况
所持
对象
名称
最初投资成
本（元）
持有数量
（股）
占该公
司股权
比例（%）
期末账面价
值（元）
报告期
损益
（元）
报告期
所有者
权益变
动（元）
会计核
算科目
股份来
源
上海
银行
551,400.00 191,700 <5 551,400.00
长期股
权投资
购入
宝鼎
投资
7,500.00 5,751 <5 7,500.00
长期股
权投资
购入
申银
万国
200,000.00 102,214 <5 200,000.00
长期股
权投资
购入
合计 758,900.00 299,665 / 758,900.00 / /
(八) 资产交易事项
1、收购资产情况
报告期内，公司无重大收购资产的情况上工申贝（集团）股份有限公司 2010 年半年度报告
11
2、出售资产情况
公司于2010 年5 月6 日召开六届八次董事会议，审议通过公司全资子公司上工（欧
洲）控股有限责任公司的控股子公司德国杜克普·阿德勒股份公司出让其子公司杜克普物
料输送技术有限公司股权的议案，公司于2010 年5 月28 日召开公司2009 年度股东大会，
审议批准了上述项目，该事项分别公告于2010 年5 月8 日和2010 年5 月29 日的《上海
证券报》、香港《商报》。该股权转让交割手续于2010 年7 月1 日完成。
3、吸收合并情况
公司以全资子公司上海上工缝纫机有限公司为平台，控股合并公司全资子公司上海上
工进出有限公司、控股子公司上海蝴蝶进出口有限公司，完成后，上海上工缝纫机有限公
司更名为上海上工蝴蝶缝纫机有限公司，公司于2010 年5 月6 日召开的六届八次董事会
议及公司2009 年度股东大会先后审议批准了该事项，有关内容分别公告于2010 年5 月8
日和2010 年5 月29 日的《上海证券报》、香港《商报》。2010 年 6 月 28 日上海上工
蝴蝶缝纫机有限公司的工商注册登记手续已经完成。
(九) 重大关联交易
本报告期公司无重大关联交易事项。
(十) 重大合同及其履行情况
1、为公司带来的利润达到公司本期利润总额10％以上（含10％）的托管、承包、租赁事
项
(1) 托管情况
本报告期公司无托管事项。
(2) 承包情况
本报告期公司无承包事项。
(3) 租赁情况
本报告期公司无租赁事项。
2、担保情况
单位:万元 币种:人民币
公司对外担保情况（不包括对子公司的担保）
担保对象
发生日期
（协议签署
日）
担保金额 担保类型 担保期限
是否
履行
完毕
是否
为关
联方
担保
上海华源企
业发展股份
有限公司
2004 年11 月
11 日
3,000
连带责任担
保
2004 年11 月11 日～2005
年11 月9 日
否 否
上海华源企
业发展股份
有限公司
2005 年3 月29
日
849
连带责任担
保
2005 年3 月29 日～2005 年
9 月29 日
否 否
上海华源企
业发展股份
有限公司
2005 年5 月27
日
1,000
连带责任担
保
2005 年5 月27 日～2006 年
5 月23 日
否 否
上海华源企
业发展股份
有限公司
2005 年6 月13
日
1,000
连带责任担
保
2005 年6 月13 日～2005 年
9 月29 日
否 否上工申贝（集团）股份有限公司 2010 年半年度报告
12
上海华源企
业发展股份
有限公司
2005 年6 月6
日
3,000
连带责任担
保
2005 年6 月6 日～2006 年6
月1 日
否 否
上海华源企
业发展股份
有限公司
2005 年7 月14
日
3,000
连带责任担
保
2005 年7 月14 日～2006 年
7 月4 日
否 否
上海浦东发
展(集团)有
限公司
2008 年6 月9
日
13,560
连带责任担
保
2008 年6 月9 日～2012 年6
月8 日
否 否
报告期内担保发生额合计 0
报告期末担保余额合计 25,409
公司对子公司的担保情况
报告期内对子公司担保发生额合计 0
报告期末对子公司担保余额合计 3,599
公司担保总额情况（包括对子公司的担保）
担保总额 29,008
担保总额占公司净资产的比例（%） 52.2
其中：
为股东、实际控制人及其关联方提供担保的金额 0
直接或间接为资产负债率超过70％的被担保对象提供的债务担保金额15,448
担保总额超过净资产50％部分的金额 0
上述三项担保金额合计 15,448
（1）本公司与上海华源企业发展股份有限公司（下称“华源发展”）自2001 年起建立了互为对
方向银行贷款提供担保的协议。此后华源发展未能按约归还借款，被银行提起诉讼，此时因公司为华
源发展提供的担保尚余六笔，逾期金额为11,849 万元，本公司也被卷入案件之中。2008 年内，华源
发展以其所持部分股权作为对本公司为其担保所提供的反担保抵（质）押物，本公司以部分自有资产
作为华源发展向银行借款提供的担保物，与银行办理了抵（质）押手续，同时与银行签订了和解协议
（详见公司临2008—002、010、016 号公告）。
（2）根据本公司与德国FAG Kugelfischer GmbH（下称“FAG 公司”）签订的德国DA 公司股份转
让协议，本公司需对下述事项承担一定的连带担保责任：
2005 年度，本公司为DA 公司在美国子公司的房屋租赁向FAG 公司出具了金额不超过530 万美元
的担保函，担保期限从2005 年6 月30 日至2015 年10 月31 日；同时“上工欧洲”于2005 年6 月30
日向FAG 公司提供了63.5 万欧元、同等期限的现金质押，用于对FAG 公司为DA 公司在美国的一家子
公司与UTF Norcross L.L.C.之间的房屋售后回租交易所提供的担保提供再担保。
截止2010 年6 月30 日止，本公司尚未因上述担保事项发生经济利益的流出。
3、委托理财情况
本报告期公司无委托理财事项。
4、其他重大合同
本报告期公司无其他重大合同。
(十一) 承诺事项履行情况
本报告期或持续到报告期内，公司或持股5%以上股东没有承诺事项。上工申贝（集团）股份有限公司 2010 年半年度报告
13
(十二) 聘任、解聘会计师事务所情况
报告期内，经公司股东大会批准，公司继续聘任立信会计师事务所有限公司为本公司
2010 年度会计报表审计机构。
(十三) 上市公司及其董事、监事、高级管理人员、公司股东、实际控制人处罚及整改情
况
本报告期内，公司及其董事、监事、高级管理人员、公司股东、实际控制人均未受中
国证监会的稽查、行政处罚、通报批评及证券交易所的公开谴责。
(十四) 其他重大事项的说明
面对中国缝制设备制造业遭受国际金融危机的严重冲击，公司与中捷缝纫机股份有限
公司拟通过相互持股相关子公司的紧密合作形式，发挥各自优势，合力消化德国DA 公司
先进技术，并扩大在中国的高端缝制设备制造，实现互利双赢，共同为中国缝制机械产业
的发展作出贡献，为双方股东谋取更大利益。经双方董事会审议通过，于2010 年3 月25
日签署了《关于缝纫机业务战略合作框架协议书》，2010 年7 月16 日，双方又在"框架
协议书"的基础上，签订了"补充协议"。
(十五) 信息披露索引
事项 刊载的报刊名称及版面 刊载日期
刊载的互联网网站及检索路
径
临2010-001 2009 年度
业绩预盈公告
《上海证券报》35 版、 香
港《商报》A5 版
2010 年1 月30 日
上海证券交易所网站
http://www.sse.com.cn
临2010-002 第六届董
事会第六次会议决议
公告
《上海证券报》B103 版 、
香港《商报》A19 版
2010 年3 月26 日
上海证券交易所网站
http://www.sse.com.cn
临2010-003 第六届监
事会第四次会议决议
公告
《上海证券报》B103 版、
香港《商报》A19 版
2010 年3 月26 日
上海证券交易所网站
http://www.sse.com.cn
临2010-004 与中捷缝
纫机股份有限公司签
署《关于缝纫机业务战
略合作框架协议书》的
公告
《上海证券报》B103 版 、
香港《商报》A19 版
2010 年3 月26 日
上海证券交易所网站
http://www.sse.com.cn
2009 年年度报告摘要
《上海证券报》B103 版 、
香港《商报》A19 版
2010 年3 月26 日
上海证券交易所网站
http://www.sse.com.cn
临2010-005 第六届监
事会第五次会议决议
公告
《上海证券报》B68 版、 香
港《商报》A28 版
2010 年4 月29 日
上海证券交易所网站
http://www.sse.com.cn
2010 年第一季度报告
《上海证券报》B68 版、香
港《商报》A28 版
2010 年4 月29 日
上海证券交易所网站
http://www.sse.com.cn
临2010-006 第六届董
事会第八次会议决议
公告
《上海证券报》27 版、香
港《商报》A7 版
2010 年5 月8 日
上海证券交易所网站
http://www.sse.com.cn
临2010-007 关于上工
（欧洲）控股有限责任
公司的控股子公司德
国杜克普·阿德勒股份
公司出让其全资子公
司杜克普物料输送技
《上海证券报》27 版 、 香
港《商报》A7 版
2010 年5 月8 日
上海证券交易所网站
http://www.sse.com.cn上工申贝（集团）股份有限公司 2010 年半年度报告
14
术有限公司股权的公
告
临2010-008 关于召开
公司2009 年年度股东
大会的通知
《上海证券报》27 版、 香
港《商报》A7 版
2010 年5 月8 日
上海证券交易所网站
http://www.sse.com.cn
临2010-009 2009 年度
股东大会决议公告
《上海证券报》26 版、 香
港《商报》A21 版
2010 年5 月29 日
上海证券交易所网站
http://www.sse.com.cn
临2010-010 2010 年半
年度业绩预盈公告
《上海证券报》B29 版、 香
港《商报》A17 版
2010 年7 月13 日
上海证券交易所网站
http://www.sse.com.cn
临2010-011 关于缝纫
机业务战略合作进展
情况公告
《上海证券报》23 版、香
港《商报》A7 版
2010 年7 月17 日
上海证券交易所网站
http://www.sse.com.cn上工申贝（集团）股份有限公司 2010 年半年度报告
15
七、财务会计报告(未经审计)
(一)财务报表
合并资产负债表
2010 年6 月30 日
编制单位: 上工申贝（集团）股份有限公司
单位:元 币种:人民币
项目 附注 期末余额 年初余额
流动资产：
货币资金 292,288,164.86 500,436,327.04
结算备付金
拆出资金
交易性金融资产 324,049.68 452,884.48
应收票据 2,840,040.00 7,752,100.00
应收账款 220,250,633.13 206,166,693.08
预付款项 28,347,714.94 35,189,414.48
应收保费
应收分保账款
应收分保合同准备金
应收利息
应收股利 6,465,162.65
其他应收款 111,190,272.24 134,821,096.08
买入返售金融资产
存货 329,794,146.07 350,015,644.18
一年内到期的非流动
资产
其他流动资产 2,123,371.73 1,327,268.22
流动资产合计 993,623,555.30 1,236,161,427.56
非流动资产：
发放委托贷款及垫款
可供出售金融资产 5,927,759.85 7,105,317.57
持有至到期投资
长期应收款
长期股权投资 45,224,962.77 46,142,074.33
投资性房地产 129,169,321.92 136,793,872.93
固定资产 322,955,866.94 382,239,736.89
在建工程 1,719,001.30 1,890,175.97
工程物资
固定资产清理
生产性生物资产
油气资产
无形资产 43,298,513.38 46,216,547.46
开发支出 47,177,217.11 54,761,596.82上工申贝（集团）股份有限公司 2010 年半年度报告
16
商誉 24,098,385.60 28,544,830.56
长期待摊费用
递延所得税资产 34,603,267.87 38,525,268.82
其他非流动资产
非流动资产合计 654,174,296.74 742,219,421.35
资产总计 1,647,797,852.04 1,978,380,848.91
流动负债：
短期借款 271,288,032.57 286,948,148.62
向中央银行借款
吸收存款及同业存放
拆入资金
交易性金融负债
应付票据 2,808,428.76
应付账款 112,124,176.68 137,481,885.22
预收款项 81,393,759.50 40,261,334.94
卖出回购金融资产款
应付手续费及佣金
应付职工薪酬 82,781,355.11 156,133,546.73
应交税费 3,521,135.71 6,983,942.02
应付利息
应付股利 1,631,937.63 1,631,937.63
其他应付款 129,990,327.21 277,037,653.23
应付分保账款
保险合同准备金
代理买卖证券款
代理承销证券款
一年内到期的非流动
负债
520,000.00 520,000.00
其他流动负债 280,230.99 700,031.40
流动负债合计 683,530,955.40 910,506,908.55
非流动负债：
长期借款 1,489,984.87 1,489,984.87
应付债券
长期应付款 22,095,953.99 22,316,553.05
专项应付款
预计负债 357,064,805.49 423,512,508.26
递延所得税负债 27,634,770.63 30,727,905.06
其他非流动负债
非流动负债合计 408,285,514.98 478,046,951.24
负债合计 1,091,816,470.38 1,388,553,859.79
所有者权益（或股东权
益）：上工申贝（集团）股份有限公司 2010 年半年度报告
17
实收资本（或股本） 448,886,777.00 448,886,777.00
资本公积 393,186,858.95 397,168,468.55
减：库存股
专项储备
盈余公积 4,546,242.52 4,546,242.52
一般风险准备
未分配利润 -278,399,294.44 -282,061,908.47
外币报表折算差额 -47,923,737.43 -16,065,589.05
归属于母公司所有者
权益合计
520,296,846.60 552,473,990.55
少数股东权益 35,684,535.06 37,352,998.57
所有者权益合计 555,981,381.66 589,826,989.12
负债和所有者权益
总计
1,647,797,852.04 1,978,380,848.91
法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:高莉莉上工申贝（集团）股份有限公司 2010 年半年度报告
18
母公司资产负债表
2010 年6 月30 日
编制单位: 上工申贝（集团）股份有限公司
单位:元 币种:人民币
项目 附注 期末余额 年初余额
流动资产：
货币资金 145,613,574.57 285,588,414.17
交易性金融资产 279,849.68 382,594.48
应收票据 1,033,600.00 7,000,000.00
应收账款 23,103,817.64 28,076,674.27
预付款项 175,501.97 5,359,900.48
应收利息
应收股利 6,569,134.74 103,972.09
其他应收款 209,780,662.11 255,659,757.49
存货 23,594,301.11 25,052,102.35
一年内到期的非流动
资产
其他流动资产 145,760.00
流动资产合计 410,150,441.82 607,369,175.33
非流动资产：
可供出售金融资产 5,927,759.85 6,582,057.57
持有至到期投资
长期应收款
长期股权投资 443,920,786.72 314,742,401.92
投资性房地产 97,068,065.07 99,223,041.03
固定资产 76,690,205.94 74,255,095.42
在建工程 187,946.63 482,738.48
工程物资
固定资产清理
生产性生物资产
油气资产
无形资产 30,533,232.72 32,091,996.45
开发支出
商誉
长期待摊费用
递延所得税资产
其他非流动资产
非流动资产合计 654,327,996.93 527,377,330.87
资产总计 1,064,478,438.75 1,134,746,506.20
流动负债：
短期借款 247,948,148.62 281,948,148.62
交易性金融负债上工申贝（集团）股份有限公司 2010 年半年度报告
19
应付票据 2,808,428.76
应付账款 25,117,797.15 34,159,561.80
预收款项 4,275,160.12 6,920,954.58
应付职工薪酬 12,368,646.68 39,358,349.50
应交税费 881,435.70 729,136.11
应付利息
应付股利 1,032,818.86 1,032,818.86
其他应付款 118,152,909.91 119,764,915.56
一年内到期的非流动
负债
400,000.00 400,000.00
其他流动负债
流动负债合计 410,176,917.04 487,122,313.79
非流动负债：
长期借款 989,984.87 989,984.87
应付债券
长期应付款 1,611,944.32 1,611,944.32
专项应付款
预计负债 35,546,274.60 35,546,274.60
递延所得税负债 1,197,067.41 1,197,067.41
其他非流动负债
非流动负债合计 39,345,271.20 39,345,271.20
负债合计 449,522,188.24 526,467,584.99
所有者权益（或股东权
益）：
实收资本（或股本） 448,886,777.00 448,886,777.00
资本公积 503,680,453.42 504,334,751.14
减：库存股
专项储备
盈余公积 4,546,242.52 4,546,242.52
一般风险准备
未分配利润 -342,157,222.43 -349,488,849.45
所有者权益（或股东权益）
合计
614,956,250.51 608,278,921.21
负债和所有者权益
（或股东权益）总计
1,064,478,438.75 1,134,746,506.20
法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:高莉莉上工申贝（集团）股份有限公司 2010 年半年度报告
20
合并利润表
2010 年1—6 月
单位:元 币种:人民币
项目 附注 本期金额 上期金额
一、营业总收入 855,001,867.84 754,382,039.09
其中：营业收入 855,001,867.84 754,382,039.09
利息收入
已赚保费
手续费及佣金收入
二、营业总成本 868,691,839.63 910,278,912.00
其中：营业成本 685,456,147.32 667,761,921.44
利息支出
手续费及佣金支出
退保金
赔付支出净额
提取保险合同准备金净额
保单红利支出
分保费用
营业税金及附加 1,730,093.09 2,261,448.96
销售费用 86,051,954.07 104,016,486.35
管理费用 91,864,322.87 107,400,238.22
财务费用 15,736,223.33 29,644,028.27
资产减值损失 -12,146,901.05 -805,211.24
加：公允价值变动收益（损失以
“－”号填列）
-82,143.59 872,969.06
投资收益（损失以“－”号填
列）
7,809,420.47 15,351,195.68
其中：对联营企业和合营企
业的投资收益
汇兑收益（损失以“－”号填
列）
三、营业利润（亏损以“－”号填列） -5,962,694.91 -139,672,708.17
加：营业外收入 16,921,154.13 1,345,555.28
减：营业外支出 2,550,722.44 2,220,655.28
其中：非流动资产处置损失
四、利润总额（亏损总额以“－”号
填列）
8,407,736.78 -140,547,808.17
减：所得税费用 2,537,329.49 1,071,898.23
五、净利润（净亏损以“－”号填列） 5,870,407.29 -141,619,706.40
归属于母公司所有者的净利润 3,662,614.03 -131,415,724.73
少数股东损益 2,207,793.26 -10,203,981.67
六、每股收益：
（一）基本每股收益 0.0082 -0.2928上工申贝（集团）股份有限公司 2010 年半年度报告
21
（二）稀释每股收益 0.0082 -0.2928
七、其他综合收益 -39,716,014.75 8,646,418.29
八、综合收益总额 -33,845,607.46 -132,973,288.11
归属于母公司所有者的综合收益
总额
-32,177,143.98 -123,374,659.40
归属于少数股东的综合收益总额 -1,668,463.48 -9,598,628.71
法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:高莉莉上工申贝（集团）股份有限公司 2010 年半年度报告
22
母公司利润表
2010 年1—6 月
单位:元 币种:人民币
项目 附注 本期金额 上期金额
一、营业收入 86,334,574.45 7,070,221.74
减：营业成本 69,387,960.27 5,169,583.49
营业税金及附加 1,399,069.77 174,450.10
销售费用 3,290,889.54 114,579.82
管理费用 29,936,810.11 20,531,755.54
财务费用 9,102,255.04 11,523,239.73
资产减值损失 -3,796,838.74 544,111.21
加：公允价值变动收益（损失以
“－”号填列）
-102,744.80 132,728.71
投资收益（损失以“－”号
填列）
19,083,032.13 23,598.25
其中：对联营企业和合营
企业的投资收益
二、营业利润（亏损以“－”号填列） -4,005,284.21 -30,831,171.19
加：营业外收入 12,190,651.20 474,193.14
减：营业外支出 853,739.97 324,050.00
其中：非流动资产处置损失
三、利润总额（亏损总额以“－”号
填列）
7,331,627.02 -30,681,028.05
减：所得税费用
四、净利润（净亏损以“－”号填列） 7,331,627.02 -30,681,028.05
五、每股收益：
（一）基本每股收益 0.0163 -0.0683
（二）稀释每股收益 0.0163 -0.0683
六、其他综合收益 -654,297.72 2,150,606.73
七、综合收益总额 6,677,329.30 -28,530,421.32
法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:高莉莉上工申贝（集团）股份有限公司 2010 年半年度报告
23
合并现金流量表
2010 年1—6 月
单位:元 币种:人民币
项目 附注 本期金额 上期金额
一、经营活动产生的现金
流量：
销售商品、提供劳务
收到的现金
839,230,919.29 818,308,730.08
客户存款和同业存放
款项净增加额
向中央银行借款净增
加额
向其他金融机构拆入
资金净增加额
收到原保险合同保费
取得的现金
收到再保险业务现金
净额
保户储金及投资款净
增加额
处置交易性金融资产
净增加额
收取利息、手续费及
佣金的现金
拆入资金净增加额
回购业务资金净增加
额
收到的税费返还 31,151,054.00 34,099,091.09
收到其他与经营活动
有关的现金
10,494,563.29 13,537,953.98
经营活动现金流入
小计
880,876,536.58 865,945,775.15
购买商品、接受劳务
支付的现金
623,266,749.91 593,758,989.02
客户贷款及垫款净增
加额
存放中央银行和同业
款项净增加额
支付原保险合同赔付
款项的现金
支付利息、手续费及
佣金的现金
支付保单红利的现金上工申贝（集团）股份有限公司 2010 年半年度报告
24
支付给职工以及为职
工支付的现金
264,698,237.35 268,794,816.28
支付的各项税费 12,471,393.01 17,803,503.69
支付其他与经营活动
有关的现金
60,398,443.59 72,734,021.72
经营活动现金流出
小计
960,834,823.86 953,091,330.71
经营活动产生的
现金流量净额
-79,958,287.28 -87,145,555.56
二、投资活动产生的现金
流量：
收回投资收到的现金 223,301.14
取得投资收益收到的
现金
862,569.38 15,351,195.68
处置固定资产、无形
资产和其他长期资产收回
的现金净额
53,604,233.61 2,104,952.75
处置子公司及其他营
业单位收到的现金净额
17,791,100.00
收到其他与投资活动
有关的现金
投资活动现金流入
小计
54,690,104.13 35,247,248.43
购建固定资产、无形
资产和其他长期资产支付
的现金
13,236,490.76 14,373,861.37
投资支付的现金 314,855.01
质押贷款净增加额
取得子公司及其他营
业单位支付的现金净额
支付其他与投资活动
有关的现金
投资活动现金流出
小计
13,236,490.76 14,688,716.38
投资活动产生的
现金流量净额
41,453,613.37 20,558,532.05
三、筹资活动产生的现金
流量：
吸收投资收到的现金
其中：子公司吸收少
数股东投资收到的现金
取得借款收到的现金 159,939,883.95 217,200,000.00
发行债券收到的现金上工申贝（集团）股份有限公司 2010 年半年度报告
25
收到其他与筹资活动
有关的现金
筹资活动现金流入
小计
159,939,883.95 217,200,000.00
偿还债务支付的现金 278,987,500.00 209,693,256.24
分配股利、利润或偿
付利息支付的现金
20,692,206.46 12,268,768.18
其中：子公司支付给
少数股东的股利、利润
支付其他与筹资活动
有关的现金
10,586.88 2,355,326.38
筹资活动现金流出
小计
299,690,293.34 224,317,350.80
筹资活动产生的
现金流量净额
-139,750,409.39 -7,117,350.80
四、汇率变动对现金及现
金等价物的影响
-26,757,773.91 -551,919.60
五、现金及现金等价物净
增加额
-205,012,857.21 -74,256,293.91
加：期初现金及现金
等价物余额
467,658,653.68 353,799,316.68
六、期末现金及现金等价
物余额
262,645,796.47 279,543,022.77
法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:高莉莉上工申贝（集团）股份有限公司 2010 年半年度报告
26
母公司现金流量表
2010 年1—6 月
单位:元 币种:人民币
项目 附注 本期金额 上期金额
一、经营活动产生的现金
流量：
销售商品、提供劳务
收到的现金
83,844,989.29 8,874,928.67
收到的税费返还
收到其他与经营活动
有关的现金
26,455,356.19 14,597,252.84
经营活动现金流入
小计
110,300,345.48 23,472,181.51
购买商品、接受劳务
支付的现金
69,576,033.71 5,425,071.17
支付给职工以及为职
工支付的现金
45,973,024.51 10,769,512.49
支付的各项税费 5,394,364.50 1,269,299.48
支付其他与经营活动
有关的现金
22,321,949.92 10,055,176.28
经营活动现金流出
小计
143,265,372.64 27,519,059.42
经营活动产生的
现金流量净额
-32,965,027.16 -4,046,877.91
二、投资活动产生的现金
流量：
收回投资收到的现金
取得投资收益收到的
现金
15,697,491.43
处置固定资产、无形
资产和其他长期资产收回
的现金净额
50,960,261.40 576,250.00
处置子公司及其他营
业单位收到的现金净额
收到其他与投资活动
有关的现金
投资活动现金流入
小计
66,657,752.83 576,250.00
购建固定资产、无形
资产和其他长期资产支付
的现金
1,768,386.40 746,592.67
投资支付的现金 133,281,685.73
取得子公司及其他营上工申贝（集团）股份有限公司 2010 年半年度报告
27
业单位支付的现金净额
支付其他与投资活动
有关的现金
投资活动现金流出
小计
135,050,072.13 746,592.67
投资活动产生的
现金流量净额
-68,392,319.30 -170,342.67
三、筹资活动产生的现金
流量：
吸收投资收到的现金
取得借款收到的现金 136,600,000.00 182,200,000.00
收到其他与筹资活动
有关的现金
筹资活动现金流入
小计
136,600,000.00 182,200,000.00
偿还债务支付的现金 170,600,000.00 172,200,000.00
分配股利、利润或偿
付利息支付的现金
4,618,229.77 10,964,196.29
支付其他与筹资活动
有关的现金
2,330,000.00
筹资活动现金流出
小计
175,218,229.77 185,494,196.29
筹资活动产生的
现金流量净额
-38,618,229.77 -3,294,196.29
四、汇率变动对现金及现
金等价物的影响
736.63 -132,387.59
五、现金及现金等价物净
增加额
-139,974,839.60 -7,643,804.46
加：期初现金及现金
等价物余额
273,006,414.17 55,099,297.35
六、期末现金及现金等价
物余额
133,031,574.57 47,455,492.89
法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:高莉莉上工申贝（集团）股份有限公司 2010 年半年度报告
28
合并所有者权益变动表
2010 年1—6 月
单位:元 币种:人民币
本期金额
归属于母公司所有者权益
项目
实收资本（或股
本）
资本公积
减：库
存股
专项
储备
盈余公积
一
般
风
险
准
备
未分配利润 其他
少数股东权益所有者权益合计
一、上年年末余
额
448,886,777.00 397,168,468.55 4,546,242.52 -282,061,908.47 -16,065,589.05 37,352,998.57 589,826,989.12
加：会计
政策变更
前期
差错更正
其他
二、本年年初余
额
448,886,777.00 397,168,468.55 4,546,242.52 -282,061,908.47 -16,065,589.05 37,352,998.57 589,826,989.12
三、本期增减变
动金额（减少以
“－”号填列）
-3,981,609.60 3,662,614.03 -31,858,148.38 -1,668,463.51 -33,845,607.46
（一）净利润 3,662,614.03 2,207,793.26 5,870,407.29
（二）其他综合
收益
-3,981,609.60 -31,858,148.38 -3,876,256.77 -39,716,014.75
上述（一）和
（二）小计
-3,981,609.60 3,662,614.03 -31,858,148.38 -1,668,463.51 -33,845,607.46
（三）所有者投
入和减少资本
1．所有者投入上工申贝（集团）股份有限公司 2010 年半年度报告
29
资本
2．股份支付计
入所有者权益
的金额
3．其他
（四）利润分配
1．提取盈余公
积
2．提取一般风
险准备
3．对所有者（或
股东）的分配
4．其他
（五）所有者权
益内部结转
1．资本公积转
增资本（或股
本）
2．盈余公积转
增资本（或股
本）
3．盈余公积弥
补亏损
4．其他
（六）专项储备
1．本期提取
2．本期使用
四、本期期末余
额
448,886,777.00 393,186,858.95 4,546,242.52 -278,399,294.44 -47,923,737.43 35,684,535.06 555,981,381.66上工申贝（集团）股份有限公司 2010 年半年度报告
30
单位:元 币种:人民币
上年同期金额
归属于母公司所有者权益
项目
实收资本（或股
本）
资本公积
减：库
存股
专项
储备
盈余公积
一
般
风
险
准
备
未分配利润 其他
少数股东权益 所有者权益合计
一、上年年末余
额
448,886,777.00 390,948,871.29 4,546,242.52 -315,467,421.74 -20,169,554.87 56,238,398.48 564,983,312.68
加：
会计政策变更
前期
差错更正
其他
二、本年年初余
额
448,886,777.00 390,948,871.29 4,546,242.52 -315,467,421.74 -20,169,554.87 56,238,398.48 564,983,312.68
三、本期增减变
动金额（减少以
“－”号填列）
8,725,225.84 -131,415,724.73 -684,160.51 -9,598,628.71 -132,973,288.11
（一）净利润 -131,415,724.73 -10,203,981.67 -141,619,706.40
（二）其他综合
收益
8,725,225.84 -684,160.51 605,352.96 8,646,418.29
上述（一）和（二）
小计
8,725,225.84 -131,415,724.73 -684,160.51 -9,598,628.71 -132,973,288.11
（三）所有者投
入和减少资本
1．所有者投入资
本
2．股份支付计入
所有者权益的金上工申贝（集团）股份有限公司 2010 年半年度报告
31
额
3．其他
（四）利润分配
1．提取盈余公积
2．提取一般风险
准备
3．对所有者（或
股东）的分配
4．其他
（五）所有者权
益内部结转
1．资本公积转增
资本（或股本）
2．盈余公积转增
资本（或股本）
3．盈余公积弥补
亏损
4．其他
（六）专项储备
1．本期提取
2．本期使用
四、本期期末余
额
448,886,777.00 399,674,097.13 4,546,242.52 -446,883,146.47 -20,853,715.38 46,639,769.77 432,010,024.57
法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:高莉莉上工申贝（集团）股份有限公司 2010 年半年度报告
32
母公司所者权益变动表
2010 年1—6 月
单位:元 币种:人民币
本期金额
项目 实收资本（或股
本）
资本公积 减：库存股专项储备盈余公积
一般风险准
备
未分配利润 所有者权益合计
一、上年年末余
额
448,886,777.00 504,334,751.14 4,546,242.52 -349,488,849.45 608,278,921.21
加：会计政
策变更
前期
差错更正
其他
二、本年年初余
额
448,886,777.00 504,334,751.14 4,546,242.52 -349,488,849.45 608,278,921.21
三、本期增减变
动金额（减少以
“－”号填列）
-654,297.72 7,331,627.02 6,677,329.30
（一）净利润 7,331,627.02 7,331,627.02
（二）其他综合
收益
-654,297.72 -654,297.72
上述（一）和（二）
小计
-654,297.72 7,331,627.02 6,677,329.30
（三）所有者投
入和减少资本
1．所有者投入资
本
2．股份支付计入
所有者权益的金
额
3．其他
（四）利润分配
1．提取盈余公积
2.提取一般风险
准备
3．对所有者（或
股东）的分配
4．其他
（五）所有者权
益内部结转
1．资本公积转增
资本（或股本）
2．盈余公积转增
资本（或股本）
3．盈余公积弥补
亏损
4．其他
（六）专项储备
1．本期提取
2．本期使用
四、本期期末余
额
448,886,777.00 503,680,453.42 4,546,242.52 -342,157,222.43 614,956,250.51
单位:元 币种:人民币
上年同期金额
项目 实收资本（或股
本）
资本公积 减：库存股专项储备盈余公积
一般风险准
备
未分配利润 所有者权益合计
一、上年年末余
额
448,886,777.00 394,611,254.25 4,546,242.52 -543,874,979.20 304,169,294.57
加：会计政
策变更
前期
差错更正上工申贝（集团）股份有限公司 2010 年半年度报告
33
其他
二、本年年初余
额
448,886,777.00 394,611,254.25 4,546,242.52 -543,874,979.20 304,169,294.57
三、本期增减变
动金额（减少以
“－”号填列）
2,150,606.73 -30,681,028.05 -28,530,421.32
（一）净利润 -30,681,028.05 -30,681,028.05
（二）其他综合
收益
2,150,606.73 2,150,606.73
上述（一）和（二）
小计
2,150,606.73 -30,681,028.05 -28,530,421.32
（三）所有者投
入和减少资本
1．所有者投入资
本
2．股份支付计入
所有者权益的金
额
3．其他
（四）利润分配
1．提取盈余公积
2.提取一般风险
准备
3．对所有者（或
股东）的分配
4．其他
（五）所有者权
益内部结转
1．资本公积转增
资本（或股本）
2．盈余公积转增
资本（或股本）
3．盈余公积弥补
亏损
4．其他
（六）专项储备
1．本期提取
2．本期使用
四、本期期末余
额
448,886,777.00 396,761,860.98 4,546,242.52 -574,556,007.25 275,638,873.25
法定代表人: 张敏 主管会计工作负责人:马民良 会计机构负责人:高莉莉上工申贝（集团）股份有限公司 2010 年半年度报告
34
（二）报表附注
一、 公司基本情况
上工申贝（集团）股份有限公司（以下简称“公司”或“本公司”）为境内公开
发行A、B 股股票并在上海证券交易所上市的股份有限公司，是中国缝制设备行业第
一家上市公司。本公司于1994 年4 月注册成立，企业法人营业执照注册号:
310000400080303 号(市局)。本公司的注册资本为人民币448,886,777 元，注册地址
为中国上海市浦东新区罗山路1201 号，总部办公地址为上海市浦东新区世纪大道
1500 号12 楼，法定代表人为张敏先生。
本公司以生产、销售工业用缝纫设备为主，主要产品有平缝、包缝、套结、钉扣、
锁眼、双针、多针、链缝、绷缝及其他特种工业缝纫机共10 个大类，21 个系列，100
多个品种，主要产品以“上工牌”、“双工牌”、“蝴蝶牌”、“蜜蜂牌”、“飞人
牌”为注册商标。本公司近年来积极进行新型缝纫设备的开发、研制，尤其是2005
年中成功地并购德国Dürkopp Adler AG 股份有限公司（一家注册在德国的上市公司，
下称“德国DA 公司”）后，本公司正在利用德国DA 公司的先进技术，对现有产品和
新产品实施进一步升级、开发，并逐步将适应于亚洲市场的DA 产品转移到中国生产，
以适应用户对自动化缝制设备日益增长的需求。
同时，本公司的经营范围还包括物料传输、办公机械、影像器材的产销、商贸物
流等多个领域。
2006 年5 月 22 日公司股权分置改革相关股东大会决议通过：公司非流通股股
东为使其持有的本公司非流通股获得流通权而向本公司流通股股东支付的对价为：流
通股股东每持有 10 股将获得6 股的股份对价。实施上述送股对价后，公司股份总数
不变，股份结构发生相应变化。截止 2010 年 6 月 30 日，股本总数为 448,886,777
股，其中：无限售条件股份为 448,886,777 股，占股份总数的100%。
二、 主要会计政策、会计估计和前期差错
(一) 财务报表的编制基础
公司以持续经营为基础，根据实际发生的交易和事项，按照《企业会计准则—基
本准则》和其他各项会计准则及其他相关规定进行确认和计量，在此基础上编制财务
报表。
(二) 遵循企业会计准则的声明
公司所编制的财务报表符合企业会计准则的要求，真实、完整地反映了报告期公
司的财务状况、经营成果、现金流量等有关信息。
(三) 会计期间
自公历1 月1 日至12 月31 日止为一个会计年度。
(四) 记账本位币
采用人民币为记账本位币。
公司境外子公司以其经营所处的主要经济环境中的货币为记账本位币，编制财务
报表时折算为人民币。
(五) 同一控制下和非同一控制下企业合并的会计处理方法
1、 同一控制下企业合并
本公司在企业合并中取得的资产和负债，按照合并日在被合并方的账面价值计
量。在合并中取得的净资产账面价值与支付的合并对价账面价值（或发行股份面值总
额）的差额，调整资本公积，资本公积不足冲减的，调整留存收益。上工申贝（集团）股份有限公司 2010 年半年度报告
35
本公司为进行企业合并而发生的各项直接相关费用，包括为进行企业合并而支付
的审计费用、评估费用、法律服务费等，于发生时计入当期损益。
企业合并中发行权益性证券发生的手续费、佣金等，抵减权益性证券溢价收入，
溢价收入不足冲减的，冲减留存收益。
被合并各方采用的会计政策与本公司不一致的，本公司在合并日按照本公司会计
政策进行调整，在此基础上按照企业会计准则规定确认。
2、 非同一控制下的企业合并
本公司在购买日对作为企业合并对价付出的资产、发生或承担的负债按照公允价
值计量。公允价值与其账面价值的差额，计入当期损益。
本公司在购买日对合并成本进行分配。
本公司对合并成本大于合并中取得的被购买方可辨认净资产公允价值份额的差
额，确认为商誉；合并成本小于合并中取得的被购买方可辨认净资产公允价值份额的
差额，计入当期损益。
企业合并中取得的被购买方除无形资产外的其他各项资产（不仅限于被购买方原
已确认的资产），其所带来的经济利益很可能流入本公司且公允价值能够可靠计量的，
单独确认并按公允价值计量；公允价值能够可靠计量的无形资产，单独确认为无形资
产并按公允价值计量；取得的被购买方除或有负债以外的其他各项负债，履行有关义
务很可能导致经济利益流出本公司且公允价值能够可靠计量的，单独确认并按照公允
价值计量；取得的被购买方或有负债，其公允价值能可靠计量的，单独确认为负债并
按照公允价值计量。
(六) 合并财务报表的编制方法
本公司合并财务报表的合并范围以控制为基础确定，所有子公司均纳入合并财务
报表。
所有纳入合并财务报表合并范围的子公司所采用的会计政策、会计期间与本公司
一致，如子公司采用的会计政策、会计期间与本公司不一致的，在编制合并财务报表
时，按本公司的会计政策、会计期间进行必要的调整。
合并财务报表以本公司及子公司的财务报表为基础，根据其他有关资料，按照权
益法调整对子公司的长期股权投资后，由本公司编制。
合并财务报表时抵销本公司与各子公司、各子公司相互之间发生的内部交易对合
并资产负债表、合并利润表、合并现金流量表、合并所有者权益变动表的影响。
子公司少数股东分担的当期亏损超过了少数股东在该子公司期初所有者权益中
所享有份额而形成的余额，若公司章程或协议未规定少数股东有义务承担的，该余额
冲减本公司的所有者权益；若公司章程或协议规定由少数股东承担的，该余额冲减少
数股东权益。
在报告期内，若因同一控制下企业合并增加子公司的，则调整合并资产负债表的
期初数；将子公司合并当期期初至报告期末的收入、费用、利润纳入合并利润表；将
子公司合并当期期初至报告期末的现金流量纳入合并现金流量表。
在报告期内，若因非同一控制下企业合并增加子公司的，则不调整合并资产负债
表期初数；将子公司自购买日至报告期末的收入、费用、利润纳入合并利润表；该子
公司自购买日至报告期末的现金流量纳入合并现金流量表。
在报告期内，本公司处置子公司，则该子公司期初至处置日的收入、费用、利润
纳入合并利润表；该子公司期初至处置日的现金流量纳入合并现金流量表。上工申贝（集团）股份有限公司 2010 年半年度报告
36
(七) 现金及现金及现金等价物的确定标准
在编制现金流量表时，将本公司库存现金以及可以随时用于支付的存款确认为现
金。将同时具备期限短（从购买日起三个月内到期）、流动性强、易于转换为已知现
金、价值变动风险很小四个条件的投资，确定为现金等价物。
(八) 外币业务和外币报表折算
1、 外币业务
外币业务采用交易发生日的即期汇率作为折算汇率折合成人民币记账。
外币货币性项目余额按资产负债表日即期汇率折算，由此产生的汇兑差额，除属
于与购建符合资本化条件的资产相关的外币专门借款产生的汇兑差额按照借款费用
资本化的原则处理外，均计入当期损益。以历史成本计量的外币非货币性项目，仍采
用交易发生日的即期汇率折算，不改变其记账本位币金额。以公允价值计量的外币非
货币性项目，采用公允价值确定日的即期汇率折算，由此产生的汇兑差额计入当期损
益或资本公积。
2、 外币财务报表的折算
资产负债表中的资产和负债项目，采用资产负债表日的即期汇率折算；所有者权
益项目除“未分配利润”项目外，其他项目采用发生时的即期汇率折算。利润表中的
收入和费用项目，采用交易发生日的即期汇率或采用按照系统合理的方法确定的、与
交易发生日即期汇率近似的汇率折算。按照上述折算产生的外币财务报表折算差额，
在资产负债表所有者权益项目下单独列示。
处置境外经营时，将资产负债表中所有者权益项目下列示的、与该境外经营相关
的外币财务报表折算差额，自所有者权益项目转入处置当期损益；部分处置境外经营
的，按处置的比例计算处置部分的外币财务报表折算差额，转入处置当期损益。
(九) 金融工具
金融工具包括金融资产、金融负债和权益工具。
1、 金融工具的分类
管理层按照取得持有金融资产和承担金融负债的目的，将其划分为：以公允价值
计量且其变动计入当期损益的金融资产或金融负债，包括交易性金融资产或金融负
债；持有至到期投资；贷款和应收款项；可供出售金融资产；其他金融负债等。
2、 金融工具的确认依据和计量方法
（1）以公允价值计量且其变动计入当期损益的金融资产（金融负债）
取得时以公允价值（扣除已宣告但尚未发放的现金股利或已到付息期但尚未领取
的债券利息）作为初始确认金额，相关的交易费用计入当期损益。
持有期间将取得的利息或现金股利确认为投资收益，期末将公允价值变动计入当
期损益。
处置时，其公允价值与初始入账金额之间的差额确认为投资收益，同时调整公允
价值变动损益。
（2）持有至到期投资
取得时按公允价值（扣除已到付息期但尚未领取的债券利息）和相关交易费用之
和作为初始确认金额。
持有期间按照摊余成本和实际利率（如实际利率与票面利率差别较小的，按票面
利率）计算确认利息收入，计入投资收益。实际利率在取得时确定，在该预期存续期
间或适用的更短期间内保持不变。
处置时，将所取得价款与该投资账面价值之间的差额计入投资收益。上工申贝（集团）股份有限公司 2010 年半年度报告
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（3）应收款项
公司对外销售商品或提供劳务形成的应收债权，以及公司持有的其他企业的不包
括在活跃市场上有报价的债务工具的债权，包括应收账款、其他应收款、应收票据、
预付账款、长期应收款等，以向购货方应收的合同或协议价款作为初始确认金额；具
有融资性质的，按其现值进行初始确认。
收回或处置时，将取得的价款与该应收款项账面价值之间的差额计入当期损益。
（4）可供出售金融资产
取得时按公允价值（扣除已宣告但尚未发放的现金股利或已到付息期但尚未领取
的债券利息）和相关交易费用之和作为初始确认金额。
持有期间将取得的利息或现金股利确认为投资收益。期末以公允价值计量且将公
允价值变动计入资本公积（其他资本公积）。
处置时，将取得的价款与该金融资产账面价值之间的差额，计入投资损益；同时，
将原直接计入所有者权益的公允价值变动累计额对应处置部分的金额转出，计入投资
损益。
（5）其他金融负债
按其公允价值和相关交易费用之和作为初始确认金额。采用摊余成本进行后续计
量。
3、 金融资产转移的确认依据和计量方法
公司发生金融资产转移时，如已将金融资产所有权上几乎所有的风险和报酬转移
给转入方，则终止确认该金融资产；如保留了金融资产所有权上几乎所有的风险和报
酬的，则不终止确认该金融资产。
在判断金融资产转移是否满足上述金融资产终止确认条件时，采用实质重于形式
的原则。公司将金融资产转移区分为金融资产整体转移和部分转移。金融资产整体转
移满足终止确认条件的，将下列两项金额的差额计入当期损益：
（1）所转移金融资产的账面价值；
（2）因转移而收到的对价，与原直接计入所有者权益的公允价值变动累计额（涉及
转移的金融资产为可供出售金融资产的情形）之和。
金融资产部分转移满足终止确认条件的，将所转移金融资产整体的账面价值，在
终止确认部分和未终止确认部分之间，按照各自的相对公允价值进行分摊，并将下列
两项金额的差额计入当期损益：
（1）终止确认部分的账面价值；
（2）终止确认部分的对价，与原直接计入所有者权益的公允价值变动累计额中对应
终止确认部分的金额（涉及转移的金融资产为可供出售金融资产的情形）之和。
金融资产转移不满足终止确认条件的，继续确认该金融资产，所收到的对价确认为一
项金融负债。
4、 金融负债终止确认条件
金融负债的现时义务全部或部分已经解除的，则终止确认该金融负债或其一部
分；本公司若与债权人签定协议，以承担新金融负债方式替换现存金融负债，且新金
融负债与现存金融负债的合同条款实质上不同的，则终止确认现存金融负债，并同时
确认新金融负债。
对现存金融负债全部或部分合同条款作出实质性修改的，则终止确认现存金融负
债或其一部分，同时将修改条款后的金融负债确认为一项新金融负债。
金融负债全部或部分终止确认时，终止确认的金融负债账面价值与支付对价（包
括转出的非现金资产或承担的新金融负债）之间的差额，计入当期损益。上工申贝（集团）股份有限公司 2010 年半年度报告
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本公司若回购部分金融负债的，在回购日按照继续确认部分与终止确认部分的相
对公允价值，将该金融负债整体的账面价值进行分配。分配给终止确认部分的账面价
值与支付的对价（包括转出的非现金资产或承担的新金融负债）之间的差额，计入当
期损益。
5、 金融资产和金融负债公允价值的确定方法
本公司采用公允价值计量的金融资产和金融负债全部直接参考期末活跃市场中
的报价。
6、 金融资产（不含应收款项）减值准备计提
（1）可供出售金融资产的减值准备：
期末如果可供出售金融资产的公允价值发生较大幅度下降，或在综合考虑各种相
关因素后，预期这种下降趋势属于非暂时性的，就认定其已发生减值，将原直接计入
所有者权益的公允价值下降形成的累计损失一并转出，确认减值损失。
（2）持有至到期投资的减值准备：
持有至到期投资减值损失的计量比照应收款项减值损失计量方法处理。
(十) 应收款项
1、 单项金额重大的应收款项坏账准备的确认标准、计提方法：
（1）单项金额重大的应收款项坏账准备的确认标准：
单项金额重大的具体标准为：应收款项余额前五名。
（2）单项金额重大的应收款项坏账准备的计提方法：
单独进行减值测试，按预计未来现金流量现值低于其账面价值的差额计提坏账准
备，计入当期损益。
短期应收款项的预计未来现金流量与其现值相差很小，在确定相关减值损失时，
不对其预计未来现金流量进行折现。
2、 单项金额不重大但按信用风险特征组合后该组合的风险较大的应收款项坏账准备
的确定依据、计提方法：
（1）信用风险特征组合的确定依据：
对于期末单项金额非重大的应收款项，采用与经单独测试后未减值的应收款项一
起按账龄作为类似信用风险特征划分为若干组合，再按这些应收款项组合在期末余额
的一定比例（可以单独进行减值测试）计算确定减值损失，计提坏账准备。
（2）根据信用风险特征组合确定的计提方法：
根据以前年度与之相同或相类似的、按账龄段划分的具有类似信用风险特征的应
收款项组合的实际损失率为基础，结合现时情况确定以下坏账准备计提的比例：
账 龄 应收账款计提比例(%) 其他应收款计提比例(%)
1 年以内（含1 年） 5 5
1－2 年 20 20
2－3 年 50 50
3 年以上 100 100
(十一) 存货
1、 存货的分类
存货分类为：在途物资、原材料、周转材料、库存商品、在产品、发出商品、委
托加工物资等。上工申贝（集团）股份有限公司 2010 年半年度报告
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2、 发出存货的计价方法
存货发出时按加权平均法计价。
3、 存货可变现净值的确定依据及存货跌价准备的计提方法
期末对存货进行全面清查后，按存货的成本与可变现净值孰低提取或调整存货跌
价准备。
产成品、库存商品和用于出售的材料等直接用于出售的商品存货，在正常生产经
营过程中，以该存货的估计售价减去估计的销售费用和相关税费后的金额，确定其可
变现净值；需要经过加工的材料存货，在正常生产经营过程中，以所生产的产成品的
估计售价减去至完工时估计将要发生的成本、估计的销售费用和相关税费后的金额，
确定其可变现净值；为执行销售合同或者劳务合同而持有的存货，其可变现净值以合
同价格为基础计算，若持有存货的数量多于销售合同订购数量的，超出部分的存货的
可变现净值以一般销售价格为基础计算。
期末按照单个存货项目计提存货跌价准备；但对于数量繁多、单价较低的存货，
按照存货类别计提存货跌价准备；与在同一地区生产和销售的产品系列相关、具有相
同或类似最终用途或目的，且难以与其他项目分开计量的存货，则合并计提存货跌价
准备。
以前减记存货价值的影响因素已经消失的，减记的金额予以恢复，并在原已计提
的存货跌价准备金额内转回，转回的金额计入当期损益。
4、 存货的盘存制度
采用永续盘存制。
5、 低值易耗品和包装物的摊销方法
（1）低值易耗品采用一次转销法；
（2）包装物采用一次转销法。
(十二) 长期股权投资
1、 初始投资成本确定
（1）企业合并形成的长期股权投资
同一控制下的企业合并：公司以支付现金、转让非现金资产或承担债务方式以及
以发行权益性证券作为合并对价的，在合并日按照取得被合并方所有者权益账面价值
的份额作为长期股权投资的初始投资成本。长期股权投资初始投资成本与支付合并对
价之间的差额，调整资本公积；资本公积不足冲减的，调整留存收益。合并发生的各
项直接相关费用，包括为进行合并而支付的审计费用、评估费用、法律服务费用等，
于发生时计入当期损益。
非同一控制下的企业合并：合并成本为购买日购买方为取得对被购买方的控制权
而付出的资产、发生或承担的负债以及发行的权益性证券的公允价值，以及为企业合
并而发生的各项直接相关费用。通过多次交换交易分步实现的企业合并，合并成本为
每一单项交易成本之和。在合并合同中对可能影响合并成本的未来事项作出约定的，
购买日如果估计未来事项很可能发生并且对合并成本的影响金额能够可靠计量的，也
计入合并成本。
（2）其他方式取得的长期股权投资
以支付现金方式取得的长期股权投资，按照实际支付的购买价款作为初始投资成
本。
以发行权益性证券取得的长期股权投资，按照发行权益性证券的公允价值作为初
始投资成本。上工申贝（集团）股份有限公司 2010 年半年度报告
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投资者投入的长期股权投资，按照投资合同或协议约定的价值（扣除已宣告但尚
未发放的现金股利或利润）作为初始投资成本，但合同或协议约定价值不公允的除外。
在非货币性资产交换具备商业实质和换入资产或换出资产的公允价值能够可靠
计量的前提下，非货币性资产交换换入的长期股权投资以换出资产的公允价值为基础
确定其初始投资成本，除非有确凿证据表明换入资产的公允价值更加可靠；不满足上
述前提的非货币性资产交换，以换出资产的账面价值和应支付的相关税费作为换入长
期股权投资的初始投资成本。
通过债务重组取得的长期股权投资，其初始投资成本按照公允价值为基础确定。
2、 后续计量及损益确认
（1）后续计量
公司对子公司的长期股权投资，采用成本法核算，编制合并财务报表时按照权益
法进行调整。
对被投资单位不具有共同控制或重大影响，并且在活跃市场中没有报价、公允价
值不能可靠计量的长期股权投资，采用成本法核算。
对被投资单位具有共同控制或重大影响的长期股权投资，采用权益法核算。初始
投资成本大于投资时应享有被投资单位可辨认净资产公允价值份额的差额，不调整长
期股权投资的初始投资成本；初始投资成本小于投资时应享有被投资单位可辨认净资
产公允价值份额的差额，计入当期损益。
被投资单位除净损益以外所有者权益其他变动的处理：对于被投资单位除净损益
以外所有者权益的其他变动，在持股比例不变的情况下，公司按照持股比例计算应享
有或承担的部分，调整长期股权投资的账面价值，同时增加或减少资本公积（其他资
本公积）。
（2）损益确认
成本法下，除取得投资时实际支付的价款或对价中包含的已宣告但尚未发放的现
金股利或利润外，公司按照享有被投资单位宣告发放的现金股利或利润确认投资收
益。
权益法下，在公司确认应分担被投资单位发生的亏损时，按照以下顺序进行处理：
首先，冲减长期股权投资的账面价值。其次，长期股权投资的账面价值不足以冲减的，
以其他实质上构成对被投资单位净投资的长期权益账面价值为限继续确认投资损失，
冲减长期应收项目等的账面价值。最后，经过上述处理，按照投资合同或协议约定企
业仍承担额外义务的，按预计承担的义务确认预计负债，计入当期投资损失。
被投资单位以后期间实现盈利的，公司在扣除未确认的亏损分担额后，按与上述
相反的顺序处理，减记已确认预计负债的账面余额、恢复其他实质上构成对被投资单
位净投资的长期权益及长期股权投资的账面价值，同时确认投资收益。
3、 确定对被投资单位具有共同控制、重大影响的依据
按照合同约定对某项经济活动所共有的控制，仅在与该项经济活动相关的重要财
务和经营决策需要分享控制权的投资方一致同意时存在，则视为与其他方对被投资单
位实施共同控制；对一个企业的财务和经营决策有参与决策的权力，但并不能够控制
或者与其他方一起共同控制这些政策的制定，则视为投资企业能够对被投资单位施加
重大影响。
4、 减值测试方法及减值准备计提方法
重大影响以下的、在活跃市场中没有报价、公允价值不能可靠计量的长期股权投
资，其减值损失是根据其账面价值与按类似金融资产当时市场收益率对未来现金流量
折现确定的现值之间的差额进行确定。上工申贝（集团）股份有限公司 2010 年半年度报告
41
除因企业合并形成的商誉以外的存在减值迹象的其他长期股权投资，如果可收回
金额的计量结果表明，该长期股权投资的可收回金额低于其账面价值的，将差额确认
为减值损失。
因企业合并形成的商誉，无论是否存在减值迹象，每年都进行减值测试。
长期股权投资减值损失一经确认，不再转回。
(十三) 投资性房地产
投资性房地产是指为赚取租金或资本增值，或两者兼有而持有的房地产，包括已
出租的土地使用权、持有并准备增值后转让的土地使用权、已出租的建筑物。
公司对现有投资性房地产采用成本模式计量。对按照成本模式计量的投资性房地
产－出租用建筑物采用与本公司固定资产相同的折旧政策，出租用土地使用权按与无
形资产相同的摊销政策。
公司对存在减值迹象的，估计其可收回金额，可收回金额低于其账面价值的，确
认相应的减值损失。
投资性房地产减值损失一经确认，不再转回。
(十四) 固定资产
1、 固定资产确认条件
固定资产指为生产商品、提供劳务、出租或经营管理而持有，并且使用寿命超过
一个会计年度的有形资产。固定资产在同时满足下列条件时予以确认：
（1）与该固定资产有关的经济利益很可能流入企业；
（2）该固定资产的成本能够可靠地计量。
2、 各类固定资产的折旧方法
固定资产折旧采用年限平均法分类计提，根据固定资产类别、预计使用寿命和预
计净残值率确定折旧率。
符合资本化条件的固定资产装修费用，在两次装修期间与固定资产尚可使用年限
两者中较短的期间内，采用年限平均法单独计提折旧。
各类固定资产折旧年限和年折旧率如下：
类 别 折旧年限（年） 残值率（%） 年折旧率（%）
房屋及建筑物 20-50 10 1.8-4.5
机器设备 5-15 10 6-18
运输设备 5-10 10 9-18
电子设备 5-10 10 9-18
固定资产装修 5-15 6.6-20
其他设备 5-10 10 9-18
3、 固定资产的减值测试方法、减值准备计提方法
公司在每期末判断固定资产是否存在可能发生减值的迹象。
固定资产存在减值迹象的，估计其可收回金额。可收回金额根据固定资产的公允
价值减去处置费用后的净额与固定资产预计未来现金流量的现值两者之间较高者确
定。上工申贝（集团）股份有限公司 2010 年半年度报告
42
当固定资产的可收回金额低于其账面价值的，将固定资产的账面价值减记至可收
回金额，减记的金额确认为固定资产减值损失，计入当期损益，同时计提相应的固定
资产减值准备。
固定资产减值损失确认后，减值固定资产的折旧在未来期间作相应调整，以使该
固定资产在剩余使用寿命内，系统地分摊调整后的固定资产账面价值（扣除预计净残
值）。
固定资产的减值损失一经确认，在以后会计期间不再转回。
有迹象表明一项固定资产可能发生减值的，企业以单项固定资产为基础估计其可
收回金额。企业难以对单项固定资产的可收回金额进行估计的，以该固定资产所属的
资产组为基础确定资产组的可收回金额。
(十五) 在建工程
1、 在建工程的类别
在建工程以立项项目分类核算。
2、 在建工程结转为固定资产的标准和时点
在建工程项目按建造该项资产达到预定可使用状态前所发生的全部支出，作为固
定资产的入账价值。所建造的固定资产在建工程已达到预定可使用状态，但尚未办理
竣工决算的，自达到预定可使用状态之日起，根据工程预算、造价或者工程实际成本
等，按估计的价值转入固定资产，并按本公司固定资产折旧政策计提固定资产的折旧，
待办理竣工决算后，再按实际成本调整原来的暂估价值，但不调整原已计提的折旧额。
3、 在建工程的减值测试方法、减值准备计提方法
公司在每期末判断在建工程是否存在可能发生减值的迹象。
在建工程存在减值迹象的，估计其可收回金额。可收回金额根据在建工程的公允
价值减去处置费用后的净额与在建工程预计未来现金流量的现值两者之间较高者确
定。
当在建工程的可收回金额低于其账面价值的，将在建工程的账面价值减记至可收
回金额，减记的金额确认为在建工程减值损失，计入当期损益，同时计提相应的在建
工程减值准备。
在建工程的减值损失一经确认，在以后会计期间不再转回。
有迹象表明一项在建工程可能发生减值的，企业以单项在建工程为基础估计其可
收回金额。企业难以对单项在建工程的可收回金额进行估计的，以该在建工程所属的
资产组为基础确定资产组的可收回金额。
(十六) 借款费用
1、 借款费用资本化的确认原则
公司发生的借款费用，可直接归属于符合资本化条件的资产的购建或者生产的，
予以资本化，计入相关资产成本；其他借款费用，在发生时根据其发生额确认为费用，
计入当期损益。
符合资本化条件的资产，是指需要经过相当长时间的购建或者生产活动才能达到
预定可使用或者可销售状态的固定资产、投资性房地产和存货等资产。
借款费用同时满足下列条件时开始资本化：
（1）资产支出已经发生，资产支出包括为购建或者生产符合资本化条件的资产
而以支付现金、转移非现金资产或者承担带息债务形式发生的支出；
（2）借款费用已经发生；
（3）为使资产达到预定可使用或者可销售状态所必要的购建或者生产活动已经
开始。上工申贝（集团）股份有限公司 2010 年半年度报告
43
2、 借款费用资本化期间
资本化期间，指从借款费用开始资本化时点到停止资本化时点的期间，借款费用
暂停资本化的期间不包括在内。
当购建或者生产符合资本化条件的资产达到预定可使用或者可销售状态时，借款
费用停止资本化。
当购建或者生产符合资本化条件的资产中部分项目分别完工且可单独使用时，该
部分资产借款费用停止资本化。
购建或者生产的资产的各部分分别完工，但必须等到整体完工后才可使用或可对
外销售的，在该资产整体完工时停止借款费用资本化。
3、 暂停资本化期间
符合资本化条件的资产在购建或生产过程中发生的非正常中断、且中断时间连续
超过3 个月的，则借款费用暂停资本化；该项中断如是所购建或生产的符合资本化条
件的资产达到预定可使用状态或者可销售状态必要的程序，则借款费用继续资本化。
在中断期间发生的借款费用确认为当期损益，直至资产的购建或者生产活动重新开始
后借款费用继续资本化。
4、 借款费用资本化金额的计算方法
专门借款的利息费用（扣除尚未动用的借款资金存入银行取得的利息收入或者进
行暂时性投资取得的投资收益）及其辅助费用在所购建或者生产的符合资本化条件的
资产达到预定可使用或者可销售状态前，予以资本化。
根据累计资产支出超过专门借款部分的资产支出加权平均数乘以所占用一般借
款的资本化率，计算确定一般借款应予资本化的利息金额。资本化率根据一般借款加
权平均利率计算确定。
借款存在折价或者溢价的，按照实际利率法确定每一会计期间应摊销的折价或者
溢价金额，调整每期利息金额。
(十七) 无形资产
1、 无形资产的计价方法
（1）公司取得无形资产时按成本进行初始计量；
外购无形资产的成本，包括购买价款、相关税费以及直接归属于使该项资产达到
预定用途所发生的其他支出。购买无形资产的价款超过正常信用条件延期支付，实质
上具有融资性质的，无形资产的成本以购买价款的现值为基础确定。
债务重组取得债务人用以抵债的无形资产，以该无形资产的公允价值为基础确定
其入账价值，并将重组债务的账面价值与该用以抵债的无形资产公允价值之间的差
额，计入当期损益；
在非货币性资产交换具备商业实质且换入资产或换出资产的公允价值能够可靠
计量的前提下，非货币性资产交换换入的无形资产以换出资产的公允价值为基础确定
其入账价值，除非有确凿证据表明换入资产的公允价值更加可靠；不满足上述前提的
非货币性资产交换，以换出资产的账面价值和应支付的相关税费作为换入无形资产的
成本，不确认损益。
以同一控制下的企业吸收合并方式取得的无形资产按被合并方的账面价值确定
其入账价值；以非同一控制下的企业吸收合并方式取得的无形资产按公允价值确定其
入账价值。
内部自行开发的无形资产，其成本包括：开发该无形资产时耗用的材料、劳务成
本、注册费、在开发过程中使用的其他专利权和特许权的摊销以及满足资本化条件的
利息费用，以及为使该无形资产达到预定用途前所发生的其他直接费用。上工申贝（集团）股份有限公司 2010 年半年度报告
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（2）后续计量
在取得无形资产时分析判断其使用寿命。
对于使用寿命有限的无形资产，在为企业带来经济利益的期限内按直线法摊销；
无法预见无形资产为企业带来经济利益期限的，视为使用寿命不确定的无形资产，不
予摊销。
2、 使用寿命有限的无形资产的使用寿命估计情况：
项 目 预计使用寿命
土地使用权 50 年
其 他 10 年
每期末，对使用寿命有限的无形资产的使用寿命及摊销方法进行复核。
经复核，本期期末无形资产的使用寿命及摊销方法与以前估计未有不同。
3、 无形资产减值准备的计提
对于使用寿命确定的无形资产，如有明显减值迹象的，期末进行减值测试。
对于使用寿命不确定的无形资产，每期末进行减值测试。
对无形资产进行减值测试，估计其可收回金额。可收回金额根据无形资产的公允
价值减去处置费用后的净额与无形资产预计未来现金流量的现值两者之间较高者确
定。
当无形资产的可收回金额低于其账面价值的，将无形资产的账面价值减记至可收
回金额，减记的金额确认为无形资产减值损失，计入当期损益，同时计提相应的无形
资产减值准备。
无形资产减值损失确认后，减值无形资产的折耗或者摊销费用在未来期间作相应
调整，以使该无形资产在剩余使用寿命内，系统地分摊调整后的无形资产账面价值（扣
除预计净残值）。
无形资产的减值损失一经确认，在以后会计期间不再转回。
有迹象表明一项无形资产可能发生减值的，公司以单项无形资产为基础估计其可
收回金额。公司难以对单项资产的可收回金额进行估计的，以该无形资产所属的资产
组为基础确定无形资产组的可收回金额。
4、 划分公司内部研究开发项目的研究阶段和开发阶段具体标准
研究阶段：为获取并理解新的科学或技术知识等而进行的独创性的有计划调查、
研究活动的阶段。
开发阶段：在进行商业性生产或使用前，将研究成果或其他知识应用于某项计划
或设计，以生产出新的或具有实质性改进的材料、装置、产品等活动的阶段。
内部研究开发项目研究阶段的支出，在发生时计入当期损益。
5、 开发阶段支出符合资本化的具体标准
内部研究开发项目开发阶段的支出，同时满足下列条件时确认为无形资产：
（1）完成该无形资产以使其能够使用或出售在技术上具有可行性；
（2）具有完成该无形资产并使用或出售的意图；
（3）无形资产产生经济利益的方式，包括能够证明运用该无形资产生产的产品
存在市场或无形资产自身存在市场，无形资产将在内部使用的，能够证明其有用性；
（4）有足够的技术、财务资源和其他资源支持，以完成该无形资产的开发，并
有能力使用或出售该无形资产；
（5）归属于该无形资产开发阶段的支出能够可靠地计量。上工申贝（集团）股份有限公司 2010 年半年度报告
45
(十八) 职工薪酬
1、 职工薪酬的分类
本公司的应付职工薪酬包括工资、奖金、津贴和补贴；职工福利费；医疗保险费、
养老保险费、失业保险费、工伤保险费和生育保险费等社会保险费；住房公积金；工
会经费和职工教育经费；非货币性福利；因解除与职工劳动关系给予的补偿（辞退福
利）等。
2、 职工薪酬的确认和计量
本公司在职工提供服务的各个会计期间，将职工薪酬确认为负债，除了因解除与
职工劳动关系给予的补偿外，按照职工服务的收益对象，分别下列情况处理：
（1）应由生产产品、提供劳务负担的职工薪酬，计入产品成本或劳务成本；
（2）应由在建工程、无形资产负担的职工薪酬，计入建造固定资产或无形资产
成本；
（3）除了上述之外的薪酬，直接计入当期损益。
国家对于部分应付职工薪酬项目规定了计提比例的，本公司按照规定的比例计
量；国家没有规定比例的，本公司管理层根据历史经验和现实情况进行预计，实际发
生额大于或小于预计水平的，需要补提或冲回职工薪酬。
本公司以自产产品发给职工、将自有房屋无偿提供给职工使用、租赁住房等资产
给职工无偿使用的，则分别按照产品的公允价值、房屋的每期折旧以及房屋的每期租
金，根据收益对象计入相应自产成本或当期损益；无法区分收益对象的，直接计入当
期损益。
3、 辞退福利
本公司在职工劳动合同到期前解除劳动关系、或者为鼓励职工自愿解除合同而提
出的补偿，则根据本公司的不能单方撤回的、正式的书面计划或建议（包括职工所在
部门、数量、补偿标准、实施时间等），确认应付职工薪酬，计入当期损益。
对于自愿接受裁减的建议，本公司需要预计能够接受裁减的职工数量，根据数量
和每个职位的补偿标准，按照《企业会计准则13 号---或有事项》的判断条件，计提
应付职工薪酬。
(十九) 债务重组
本公司的报告期与债权人实施的债务重组分别下列情况处理：
1、 以现金清偿债务的，本公司将重组债务的账面价值与实际应支付现金之间
的差额，计入当期损益。
2、 以非现金资产清偿债务的，本公司将重组债务的账面价值与转让的非现金
资产公允价值之间的差额，计入当期损益。 转让的非现金资产公允价值与其账面价
值之间的差额，计入当期损益。
3、 将债务转为资本的，本公司将债权人放弃债权而享有股份的面值总额确认
为股本（或者实收资本），股份的公允价值总额与股本（或者实收资本）之间的差额
确认为资本公积。 重组债务的账面价值与股份的公允价值总额之间的差额，计入当
期损益。
4、 修改其他债务条件的，本公司将修改其他债务条件后债务的公允价值作为
重组后债务的入账价值。重组债务的账面价值与重组后债务的入账价值之间的差额，
计入当期损益。
5、 修改后的债务条款如涉及或有应付金额，且该或有应付金额符合《企业会
计准则第13 号—或有事项》中有关预计负债确认条件的，本公司将该或有应付金额
确认为预计负债。重组债务的账面价值，与重组后债务的入账价值和预计负债金额之上工申贝（集团）股份有限公司 2010 年半年度报告
46
和的差额，计入当期损益。 或有应付金额，是指需要根据未来某种事项出现而发生的
应付金额，而且该未来事项的出现具有不确定性。
6、 债务重组以现金清偿债务、非现金资产清偿债务、债务转为资本、修改其
他债务条件等方式的组合进行的，本公司依次以支付的现金、转让的非现金资产公允
价值、债权人享有股份的公允价值冲减重组债务的账面价值，再按照上述修改其他债
务条件的方式处理。
(二十) 预计负债
本公司涉及诉讼、债务担保、亏损合同、重组事项时，如该等事项很可能需要未
来以交付资产或提供劳务、其金额能够可靠计量的，确认为预计负债。
1、 预计负债的确认标准
与或有事项相关的义务同时满足下列条件时，本公司确认为预计负债：
该义务是本公司承担的现时义务；
履行该义务很可能导致经济利益流出本公司；
该义务的金额能够可靠地计量。
2、 预计负债的计量方法
本公司预计负债按履行相关现时义务所需的支出的最佳估计数进行初始计量。
本公司在确定最佳估计数时，综合考虑与或有事项有关的风险、不确定性和货币
时间价值等因素。对于货币时间价值影响重大的，通过对相关未来现金流出进行折现
后确定最佳估计数。
最佳估计数分别以下情况处理：
所需支出存在一个连续范围（或区间），且该范围内各种结果发生的可能性相同
的，则最佳估计数按照该范围的中间值即上下限金额的平均数确定。
所需支出不存在一个连续范围（或区间），或虽然存在一个连续范围但该范围内
各种结果发生的可能性不相同的，如或有事项涉及单个项目的，则最佳估计数按照最
可能发生金额确定；如或有事项涉及多个项目的，则最佳估计数按各种可能结果及相
关概率计算确定。
(二十一) 收入
1、 销售商品收入确认时间的具体判断标准
公司已将商品所有权上的主要风险和报酬转移给购买方；公司既没有保留与所有
权相联系的继续管理权，也没有对已售出的商品实施有效控制；收入的金额能够可靠
地计量；相关的经济利益很可能流入企业；相关的已发生或将发生的成本能够可靠地
计量时，确认商品销售收入实现。
2、 确认让渡资产使用权收入的依据
与交易相关的经济利益很可能流入企业，收入的金额能够可靠地计量时。分别下
列情况确定让渡资产使用权收入金额：
（1）利息收入金额，按照他人使用本企业货币资金的时间和实际利率计算确定。
（2）使用费收入金额，按照有关合同或协议约定的收费时间和方法计算确定。
3、 按完工百分比法确认提供劳务的收入时，确定合同完工进度的依据和方法
在资产负债表日提供劳务交易的结果能够可靠估计的，采用完工百分比法确认提
供劳务收入。提供劳务交易的完工进度，依据已经发生的成本占估计总成本的比例确
定。
按照已收或应收的合同或协议价款确定提供劳务收入总额，但已收或应收的合同
或协议价款不公允的除外。资产负债表日按照提供劳务收入总额乘以完工进度扣除以
前会计期间累计已确认提供劳务收入后的金额，确认当期提供劳务收入；同时，按照上工申贝（集团）股份有限公司 2010 年半年度报告
47
提供劳务估计总成本乘以完工进度扣除以前会计期间累计已确认劳务成本后的金额，
结转当期劳务成本。
在资产负债表日提供劳务交易结果不能够可靠估计的，分别下列情况处理：
（1）已经发生的劳务成本预计能够得到补偿的，按照已经发生的劳务成本金额
确认提供劳务收入，并按相同金额结转劳务成本。
（2）已经发生的劳务成本预计不能够得到补偿的，将已经发生的劳务成本计入
当期损益，不确认提供劳务收入。
(二十二) 政府补助
1、 类型
政府补助，是本公司从政府无偿取得的货币性资产与非货币性资产。分为与资产
相关的政府补助和与收益相关的政府补助。
2、 会计处理方法
与购建固定资产、无形资产等长期资产相关的政府补助，确认为递延收益，按照
所建造或购买的资产使用年限分期计入营业外收入；
与收益相关的政府补助，用于补偿企业以后期间的相关费用或损失的，取得时确
认为递延收益，在确认相关费用的期间计入当期营业外收入；用于补偿企业已发生的
相关费用或损失的，取得时直接计入当期营业外收入。
(二十三) 递延所得税资产和递延所得税负债
1、 确认递延所得税资产的依据
公司以很可能取得用来抵扣可抵扣暂时性差异的应纳税所得额为限，确认由可抵
扣暂时性差异产生的递延所得税资产。
2、 确认递延所得税负债的依据
公司将当期与以前期间应交未交的应纳税暂时性差异确认为递延所得税负债。但
不包括商誉、非企业合并形成的交易且该交易发生时既不影响会计利润也不影响应纳
税所得额或可抵扣亏损所形成的暂时性差异。
(二十四) 主要会计政策、会计估计的变更
1、 会计政策变更
本报告期主要会计政策未变更。
2、 会计估计变更
本报告期主要会计估计未变更。
(二十五) 前期会计差错更正
1、 追溯重述法
本报告期未发现采用追溯重述法的前期会计差错。
2、 未来适用法
本报告期未发现采用未来适用法的前期会计差错。
三、 税项
公司主要税种和税率
税 种 计税依据 税 率（%）
增值税 销售额 17
营业税 营业额 5
企业所得税 应纳税所得额 25、22
注：境外子公司按各国税法规定执行法定税率。上工申贝（集团）股份有限公司 2010 年半年度报告
48
四、 企业合并及合并财务报表
本节下列表式数据中的金额单位，除非特别注明外均为人民币万元。
(一) 子公司情况
1、 通过设立或投资等方式取得的子公司
子公司全称
子公司类
型
注册
地
业务性质 注册资本经营范围
期末实际
投资额
实质上构
成对子公
司净投资
的其他项
目余额
持股比
例(%)
表决权
比例(%)
是否合
并报表
少数股东
权益
少数股东权
益中用于冲
减少数股东
损益的金额
从母公司所有者权益冲
减子公司少数股东分担
的本期亏损超过少数股
东在该子公司期初所有
者权益中所享有份额后
的余额
上海上工汽车运输服
务公司
全资子公司 上海 运 输 210 运 输 210 100 100 是
杜克普爱华贸易(上
海）有限公司
控股子公司 上海
缝制设备进
出口等
USD400
缝纫机械设备等批发、
佣金代理和进出口
USD160 USD136 40 74 是 404.90 -31.60
上海双重包缝机有限
公司
控股子公司 上海 缝制设备等 1,200 生产开发销售包缝机840 240 70 90 是 37.51
上海上工蝴蝶缝纫机
有限公司
全资子公司 上海 缝制设备等 7900
生产销售缝纫设备及
配件
7,900 100 100 是 564.48 100.01
杜克普爱华工业制造
（上海）有限公司
控股子公司 上海 缝制设备等 USD1,000
设计制造缝制设备、销
售自产产品、提供技术
服务和咨询
USD700 USD300 70 100 是
上海上工佳源机电有
限公司
控股子公司 上海 缝制设备等 300
生产销售缝纫设备及
配件
201 15 67 72 是 194.77 -2.03上工申贝（集团）股份有限公司 2010 年半年度报告
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子公司全称
子公司类
型
注册
地
业务性质 注册资本经营范围
期末实际
投资额
实质上构
成对子公
司净投资
的其他项
目余额
持股比
例(%)
表决权
比例(%)
是否合
并报表
少数股东
权益
少数股东权
益中用于冲
减少数股东
损益的金额
从母公司所有者权益冲
减子公司少数股东分担
的本期亏损超过少数股
东在该子公司期初所有
者权益中所享有份额后
的余额
上海索营置业有限公
司
控股子公司 上海
房地产开发
等
1,300 房地产开发等 897 69 69 是 569.80 1.21
上海工业缝纫机物产
总公司
全资子公司 上海 缝制设备等 465
缝制设备及零部件销
售劳务服务
465 100 100 否
上海永德经济发展有
限公司
控股子公司 上海
机电设备销
售等
200 机电设备销售等 160 80 80 是 56.03 4.49
上海富华轻机有限公
司
控股子公司 上海
生产销售服
装机械
USD100 生产销售服装机械 USD55 55 55 是 284.68 60.19
上工(欧洲)控股有限
责任公司
全资子公司 德国 缝制设备等 EUR2250 缝制设备等 EUR2,250 100 100 是 1,393.79 88.52上工申贝（集团）股份有限公司 2010 年半年度报告
50
2、 通过同一控制下企业合并取得的子公司
子公司全称
子公司类
型
注册地 业务性质 注册资本经营范围
期末实际
投资额
实质上构成对
子公司净投资
的其他项目余
额
持股
比例
(%)
表决权比
例(%)
是否合
并报表
少数股
东权益
少数股东权
益中用于冲
减少数股东
损益的金额
从母公司所有者权益冲
减子公司少数股东分担
的本期亏损超过少数股
东在该子公司期初所有
者权益中所享有份额后
的余额
上海申贝外高桥办公
设备有限公司
全资子公司 上海 物业管理 862 保税区内仓储等 862 100 100 是
上海申贝长城号码机
械有限公司
全资子公司 上海
生产销售号码机
械等
636
生产销售号码机、号码
机械及印刷机械等
636 100 100 是
上海申贝办公机械进
出口有限公司
控股子公司 上海
办公机械进出口
等
500
自营和代理各类商品
及技术的进出口业务
400 80 100 是
100上工申贝（集团）股份有限公司 2010 年半年度报告
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(二) 合并范围发生变更的说明
与上年相比本期减少合并单位2 家，原因为：公司本期将持有的上海上工进出口
有限公司100%股权、上海蝴蝶进出口有限公司80%股权向上海上工蝴蝶缝纫机有限公
司进行增资，并由上海上工蝴蝶缝纫机有限公司控股合并。
(三) 本期新纳入合并范围的主体和本期不再纳入合并范围的主体
本期不再纳入合并范围的子公司、特殊目的主体、通过受托经营或承租等方
式形成控制权的经营实体
名 称 处置日净资产 期初至处置日净利润
上海上工进出口有限公司 1,326.17
上海蝴蝶进出口有限公司 4,233.11
(四) 境外经营实体主要报表项目的折算汇率
子公司上工(欧洲)控股有限责任公司以欧元为记账本位币，主要财务报表项目的
折算汇率以及外币报表折算差额的处理方法如下：资产负债表中的资产和负债项目，
期末余额折算汇率8.271，年初余额折算汇率9.7971；利润表中的收入和费用项目，
本期金额折算汇率8.271，上期金额折算汇率9.6408；所有者权益项目除“未分配利
润”项目外，其他项目采用发生时的即期汇率折算；按照上述折算产生的外币财务报
表折算差额，在资产负债表所有者权益项目下单独列示。
五、 合并财务报表主要项目注释
（以下金额单位若未特别注明者均为人民币元）
(一) 货币资金
期末余额 年初余额
项 目
外币金额 折算率人民币金额 外币金额 折算率 人民币金额
现金
人民币 596,206.18 311,636.31
港币 8,391.39 0.8724 7,320.65 1,537.10 0.8805 1,353.42
欧元 37,191.54 8.2710 307,611.23 31,903.81 9.7971 312,564.81
小计 911,138.06 625,554.54
银行存款
人民币 278,321,794.43 388,030,624.77
港币 262,178.02 0.8724 228,724.10 561,447.48 0.8805 494,354.51
日元 1.00 0.0737 0.07
美元 831,138.29 6.7909 5,644,177.01 515,107.63 6.8282 3,517,257.92
欧元 92,588.61
8.2710 765,800.39 10,633,267.83 9.7971 104,175,185.94
小计 284,960,495.93 496,217,423.21
其他货币
资金
人民币 6,416,530.87 3,593,349.29
美元
欧元
小计 6,416,530.87 3,593,349.29
合 计 292,288,164.86 500,436,327.04上工申贝（集团）股份有限公司 2010 年半年度报告
52
其中期末受限制的货币资金明细如下：
1、上工（欧洲）控股有限责任公司EUR1,389,965 元授信额度保证金抵押给德国
银行；
2、上工（欧洲）控股有限责任公司EUR672,708 元存单抵押给FAG 库格福斯有限
公司；
3、定期存单1,258.2 万元质押给深圳发展银行上海分行；
4、上述三项折合人民币（合计）29,642,368.39 元。上工申贝（集团）股份有限公司 2010 年半年度报告
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(二) 交易性金融资产
项 目 期末公允价值 年初公允价值
交易性债券投资
交易性权益工具投资 44,200.00 70,290.00
指定为以公允价值计量且变动计入
当期损益的金融资产
衍生金融资产
其 他 279,849.68 382,594.48
合 计 324,049.68 452,884.48
(三) 应收票据
1、 应收票据的分类
种 类 期末余额 年初余额
银行承兑汇票 2,840,040.00 7,752,100.00
商业承兑汇票
合 计 2,840,040.00 7,752,100.00
(四) 应收股利
项 目 年初余额本期增加 本期减少期末余额 未收回原因
相关款项是
否发生减值
账龄一年以内的应收股
利
6,465,,162.65 6,465,,162.65 否
其中：
上海富士施乐有限公司
6,465,,162.65 6,465,,162.65 否
合 计 6,465,,162.65 6,465,,162.65上工申贝（集团）股份有限公司 2010 年半年度报告
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(五) 应收账款
1、 应收账款按种类披露
期末余额 年初余额
种 类
账面金额
占总额
比例(%)
坏账准备
坏账准备
比例(%)
账面金额
占总额
比例(%)
坏账准备
坏账准备
比例(%)
单项金额重大
的应收账款
55,213,403.20 14.04 35,442,699.55 64.19 66,650,157.10 17.04 42,295,574.56 63.46
单项金额不重
大但按信用风
险特征组合后
该组合的风险
较大的应收账
款
206,989,134.55 52.63 122,520,461.50 59.19 190,240,822.06 48.64 120,037,307.75 63.10
其他不重大应
收账款
131,073,662.28 33.33 15,062,405.85 11.49 134,201,747.22 34.32 22,593,150.99 16.84
合 计 393,276,200.03 100.00 173,025,566.90 391,092,726.38 100.00 184,926,033.30
2、 期末单项金额重大或虽不重大但单独进行减值测试的应收账款坏账准备
计提：
应收款项内容 账面金额 坏账准备金额
计提比例
(%)
理 由
第一名客户 29,072,565.00 29,072,565.00 100.00 超信用期
第五名客户 5,682,177.00 5,682,177.00 100.00 超信用期
其他不重大 131,073,662.28 15,062,405.85 11.49 超信用期
合计 165,828,404.28 49,817,147.85
注：期末单项金额重大或虽不重大但单独进行减值测试的应收账款主要为上工(欧洲)控股
有限责任公司应收账款，按单项金额单独测试计提减值准备。
单项金额不重大但按信用风险特征组合后该组合的风险较大的应收账款：
期末余额 年初余额
账面余额 账面余额
账
龄
金额 比例(%)
坏账准备
金额 比例(%)
坏账准备
1 年
以内
85,751,743.92 41.43 4,287,587.20 69,552,443.46 36.56 3,480,501.95
1 至
2 年
1,463,960.59 0.71 292,792.12 3,802,063.66 2.00 760,412.72
2 至3,666,695.72 1.77 1,833,347.86 2,179,843.76 1.15 1,089,921.90上工申贝（集团）股份有限公司 2010 年半年度报告
55
3 年
3 年
以上
116,106,734.32 56.09 116,106,734.32 114,706,471.18 60.29 114,706,471.18
合
计
206,989,134.55 100.00 122,520,461.50 190,240,822.06 100.00 120,037,307.75
3、 期末应收账款中无持本公司5％以上（含5％）表决权股份的股东单位及
其他关联方欠款。
4、 应收账款中欠款金额前五名
排名 与本公司关系 金额 年限
占应收账款总额
的比例(%)
第一名客户 第三方 29,072,565.00 1-2 年 7.39
第二名客户 第三方 7,958,216.25 1 年以内 2.02
第三名客户 第三方 6,699,510.00 1 年以内 1.70
第四名客户 第三方 5,800,934.95 1 年以内 1.48
第五名客户 第三方 5,682,177.00 1 年以内 1.44
(六) 其他应收款
1、 其他应收款按种类披露：
期末余额 年初余额
种 类
账面金额
占总额
比例(%)
坏账准备
坏账准备
比例(%)
账面金额
占总额
比例(%)
坏账准备
坏账准备
比例(%)
单项金额
重大的其
他应收款
98,774,078.44
65.76 7,501,366.97 7.59 129,360,088.61 73.31 11,730,633.58 9.07
单项金额
不重大但
按信用风
险特征组
合后该组
合的风险
较大的其
他应收款
37,715,182.57 25.11 31,503,903.40 8.35 32,939,206.85 18.67 29,264,113.95 88.84
其他不重
大其他应
收款
13,706,281.60 9.13 14,150,233.68 8.02 633,685.53 4.48
合 计 150,195,542.61 100.00 39,005,270.37 176,449,529.14 100.00 41,628,433.06
2、 期末单项金额重大或虽不重大但单独进行减值测试的其他应收款坏账准
备计提：
其他应收款内容 账面余额 坏账准备金额计提比例(%) 理 由
其他不重大其他应收款 13,706,281.60 ---- ----
注：期末单项金额重大或虽不重大但单独进行减值测试的其他应收款主要为上工(欧洲)
控股有限责任公司其他应收款，按单项金额单独测试计提减值准备。上工申贝（集团）股份有限公司 2010 年半年度报告
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单项金额不重大但按信用风险特征组合后该组合的风险较大的其他应收款：
期末余额 年初余额
账 龄 账面余额 账面余额
金额 比例(%)
坏账准备
金额 比例(%)
坏账准备
1 年以内 5,096,981.60 13.51 254,849.08 2,318,867.70 7.04 115,943.38
1 至2 年 1,234,722.65 3.27 246,944.53 1,070,375.64 3.25 214,075.13
2 至3 年 762,737.07 2.02 381,368.54 1,231,736.15 3.74 615,868.08
3 年以上 30,620,741.25 81.20 30,620,741.25 28,318,227.36 85.97 28,318,227.36
合 计 37,715,182.57 100.00 31,503,903.40 32,939,206.85 100.00 29,264,113.95
3、 期末其他应收款中无持本公司5％以上（含5％）表决权股份的股东单位
及其他关联方欠款。
4、 其他应收款金额前五名情况
排名 与本公司关系金额 年限
占其他应收款
总额的比例(%)
性质或内容
第一名 第三方 57,000,000.00 一年以内 37.95 土地出售款
第二名 第三方 27,953,602.36 一年以内 18.61 出口退税款
第三名 第三方 8,104,635.72 一～三年 5.40 往来款
第四名 第三方 5,000,000.00 一年以内 3.33 土地出售款
第五名 第三方 715,840.36 三年以上 0.48 往来款
(七) 预付款项
1、 预付款项按账龄列示
期末余额 年初余额
账 龄
金 额 比例(%) 金 额 比例(%)
1 年以内 26,334,733.40 92.90 29,767,964.34 84.59
1 至2 年 824,873.80 2.91 5,376,537.95 15.28
2 至3 年 1,164,579.63 4.11 29,422.96 0.08
3 年以上 23,528.11 0.08 15,489.23 0.05
合 计 28,347,714.94 100.00 35,189,414.48 100.00
2、 预付款项金额前五名单位情况
排名 与本公司关系金额 时间 未结算原因
第一名客户 第三方 3,954,213.44 一年以内 未到合同交货期
第二名客户 第三方 3,696,785.58 一年以内 未到合同交货期
第三名客户 第三方 1,201,113.30 一年以内 未到合同交货期
第四名客户 第三方 853,919.05 一年以内 未到合同交货期
第五名客户 第三方 630,000.00 一～三年 未到合同交货期
合 计 10,336,031.37上工申贝（集团）股份有限公司 2010 年半年度报告
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3、 期末预付款项中无持本公司5％以上（含5％）表决权股份的股东单位欠
款。
(八) 存货
1、 存货分类
期末余额 年初余额
项 目
账面余额 跌价准备 账面价值 账面余额 跌价准备 账面价值
原材料 170,980,414.38 41,485,761.98 129,494,652.40 197,548,712.55 55,766,787.57 141,781,924.98
在途物资 6,940,186.50 6,940,186.50 8,812,261.13 8,812,261.13
周转材料 2,358,287.82 2,358,287.82 2,358,287.82 2,358,287.82
委托加工物
资
1,644,295.20 495,707.71 1,148,587.49 2,148,631.42 495,707.71 1,652,923.71
在产品 141,838,564.62 32,767,948.57 109,070,616.05 145,945,046.25 42,968,628.57 102,976,417.68
库存商品 114,266,266.61 35,162,845.77 79,103,420.84 130,464,925.39 39,706,951.32 90,757,974.07
其 他 5,110,533.01 3,432,138.04 1,678,394.97 5,107,992.83 3,432,138.04 1,675,854.79
合 计 443,138,548.14 113,344,402.07 329,794,146.07 492,385,857.39 142,370,213.21 350,015,644.18
2、 存货跌价准备
本期减少额
存货种类 年初账面余额 本期计提额
转回 转销及其他
期末账面余额
原材料 55,766,787.57 4,880,285.37 9,400,740.22 41,485,761.98
在途物资
周转材料
委托加工物
资
495,707.71 495,707.71
在产品 42,968,628.57 2,468,971.33 7,731,708.67 32,767,948.57
库存商品 39,706,951.32 487,490.51 824,492.77 4,207,103.29 35,162,845.77
其 他 3,432,138.04 3,432,138.04
合 计 142,370,213.21 487,490.51 8,173,749.47 21,339,552.18 113,344,402.07
(九) 其他流动资产
项 目 期末余额 年初余额
租金、保险费 2,123,371.73 1,327,268.22
合 计 2,123,371.73 1,327,268.22上工申贝（集团）股份有限公司 2010 年半年度报告
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(十) 可供出售金融资产
1、 可供出售金融资产情况
项 目 期末公允价值 年初公允价值
（1）可供出售债券
（2）可供出售权益工具 5,927,759.85 7,105,317.57
（3）其 他
合 计 5,927,759.85 7,105,317.57
2、 可供出售金融资产年末余额因被冻结而流通受限的股票如下
明细品种 数量（股） 期末公允价值 年初公允价值
上海三毛 658,830 5,758,174.20 6,384,062.70
广电信息 28,989 169,585.65 197,994.87上工申贝（集团）股份有限公司 2010 年半年度报告
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(十一) 对合营企业投资和联营企业投资
（金额单位：万元）
被投资单位名称 企业类型 注册地
法定代表
人
业务性质 注册资本
本企业持股
比例(%)
本企业在被投资单
位表决权比例(%)
期末资产
总额
期末负债
总额
期末净资
产总额
本期营业
收入总额
本期净利润
联营企业：
常熟市启兴电镀五
金有限责任公司
有限责任公司 常熟 王目炯
电镀、号码机
零部件生产
280.00 90 90 465.52 254.15 211.37
上海华之杰塑胶有
限公司
有限责任公司 上海 戴四维
化工产品生
产
USD764 25 25 545.72 251.21 294.51上工申贝（集团）股份有限公司 2010 年半年度报告
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(十二) 长期股权投资
1、 长期股权投资明细情况
被投资单位
核算方
法
初始投资成本期初余额 增减变动 期末余额
在被投资单
位持股比例
(%)
在被投资单
位表决权比
例(%)
在被投资单位持
股比例与表决权
比例不一致的说
明
减值准备
本期计提减
值准备
本期现金红利
上海申贝光通信器材有限公司 权益法 510,000.00 917,111.56 -917,111.56
常熟市启兴电镀五金有限责任
公司
权益法 2,520,000.00 1,902,344.80 1,902,344.80 90 90
上海华之杰塑胶有限公司 权益法 1,766,689.38 736,283.66 736,283.66 25 25
权益法小计 3,555,740.02 -917,111.56 2,638,628.46
上海新光内衣厂（南非） 成本法 308,033.99 308,033.99 308,033.99 14.3 14.3 308,033.99
上海申丝企业发展有限公司 成本法 7,944,827.59 7,944,827.59 7,944,827.59 10.59 10.59
无锡上工缝纫机有限公司 成本法 153,814.26 153,814.26 153,814.26 80 80 153,814.26
上海华联缝制有限公司 成本法 400,000.00 400,000.00 400,000.00 21.74 注
上海富士施乐有限公司 成本法 29,140,749.49 29,140,749.49 29,140,749.49 15.92 15.92 6,465,162.65
上海上工佳荣衣车有限公司 成本法 500,000.00 500,000.00 500,000.00 12.5 12.5 500,000.00
上海南蝶缝制设备有限公司 成本法 285,000.00 285,000.00 285,000.00 19 19 285,000.00
上海宝鼎投资股份有限公司 成本法 7,500.00 7,500.00 7,500.00 <5 <5
上海银行 成本法 551,400.00 551,400.00 551,400.00 <5 <5 273,372.00
中国浦发机械股份有限公司 成本法 90,000.00 90,000.00 90,000.00 <5 <5
申银万国证券股份有限公司 成本法 200,000.00 200,000.00 200,000.00 <5 <5
上海广濑精密工业有限公司 成本法 2,840,376.00 30 注 750,000.00
上海豹驰长城数码印刷设备有
限公司
成本法 1,000,000.00 1,029,806.57 1,029,806.57 8.2 8.2 445,230.91
上海工业缝纫机物产总公司 成本法 4,600,000.00 4,600,000.00 4,600,000.00 100 100 932,718.43
成本法小计 45,211,131.90 45,211,131.90 2,624,797.59 7,488,534.65
合 计 48,766,871.92 -917,111.56 47,849,760,.36 2,624,797.59 7,488,534.65
注：公司不参与上海华联缝制有限公司、上海广濑精密工业有限公司生产经营决策，对被投资单位不构成重大影响，按成本法核算。上工申贝（集团）股份有限公司 2010 年半年度报告
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(十三) 投资性房地产
项 目 年初余额 本期增加额 本期减少额 期末余额
1．账面原值合计 203,807,627.23 9,220,577.19 194,587,050.04
（1）房屋、建筑物 152,124,865.59 9,220,577.19 142,904,288.40
（2）土地使用权 51,682,761.64 51,682,761.64
2．累计折旧和累计摊销合计 57,304,847.99 2,632,064.39 2,715,728.55 57,221,183.83
（1）房屋、建筑物 50,718,856.08 1,995,135.71 2,715,728.55 49,998,263.24
（2）土地使用权 6,585,991.91 636,928.68 7,222,920.59
3．投资性房地产净值合计 146,502,779.24 -2,632,064.39 6,504,848.64 137,365,866.21
（1）房屋、建筑物 101,406,009.51 -1,995,135.71 6,504,848.64 92,906,025.16
（2）土地使用权 45,096,769.73 -636,928.68 44,459,841.05
4．投资性房地产减值准备累计
金额合计
9,708,906.31 1,512,362.02 8,196,544.29
（1）房屋、建筑物 9,708,906.31 1,512,362.02 8,196,544.29
（2）土地使用权
5．投资性房地产账面价值合计 136,793,872.93 -2,632,064.39 4,992,486.62 129,169,321.92
（1）房屋、建筑物 91,697,103.20 -1,995,135.71 4992,486.62 84,709,480.87
（2）土地使用权 45,096,769.73 -636,928.68 44,459,841.05
本期折旧和摊销额 2,632,064.39 元。
上述投资性房地产期末余额中，部分房屋建筑物、土地使用权等作为抵押物向银行取得借
款，详见本附注八（一）重大承诺事项披露的抵押资产情况。
(十四) 固定资产原价及累计折旧
1、 固定资产情况
项 目 期初账面余额 本期增加 本期减少 期末账面余额
一、账面原值合计： 1,503,886,697.67 14,491,513.89 196,697,004.27 1,321,681,207.29
其中：房屋及建筑物 494,853,114.57 6,588,146.00 67,273,093.27 434,168,167.30
机器设备 663,388,604.60 5,041,570.89 80,080,784.30 588,349,391.19
运输工具 25,429,011.06 855,211.89 1,290,932.16 24,993,290.79
电子设备 12,716,756.11 15,143.67 488,086.17 12,243,813.61
固定资产装修 867,060.40 2,280.00 864,780.40
其他设备 306,632,150.93 1,991,441.44 47,561,828.37 261,061,764.00
二、累计折旧合计： 1,046,466,442.30 23,928,785.27 146,820,315.07 923,574,912.50
其中：房屋及建筑物 242,752,714.14 9,122,905.00 35,418,966.48 216,456,652.66
机器设备 503,160,783.73 8,503,677.87 66,603,939.68 445,060,521.92上工申贝（集团）股份有限公司 2010 年半年度报告
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项 目 期初账面余额 本期增加 本期减少 期末账面余额
运输工具 12,933,941.01 1,017,629.92 836,024.53 13,115,546.40
电子设备 7,588,554.81 212,010.49 405,574.77 7,394,990.53
固定资产装修 591,613.93 64,182.48 2,280.00 653,516.41
其他设备 279,438,834.68 5,008,379.51 43,553,529.61 240,893,684.58
三、固定资产账面净值合计 457,420,255.37 -9,437,271.38 49,876,689.20 398,106,294.79
其中：房屋及建筑物 252,100,400.43 -2,534,759.00 31,854,126.79 217,711,514.64
机器设备 160,227,820.87 -3,462,106.98 13,476,844.62 143,288,869.27
运输工具 12,495,070.05 -162,418.03 454,907.63 11,877,744.39
电子设备 5,128,201.30 -196,866.82 82,511.40 4,848,823.08
固定资产装修 275,446.47 -64,182.48 0.00 211,263.99
其他设备 27,193,316.25 -3,016,938.07 4,008,298.76 20,168,079.42
四、减值准备合计 75,180,518.48 30,090.63 75,150,427.85
其中：房屋及建筑物 4,913,777.92 4,913,777.92
机器设备 70,198,101.93 70,198,101.93
运输工具
电子设备
固定资产装修
其他设备 68,638.63 30,090.63 38,548.00
五、固定资产账面价值合计 382,239,736.89 -9,437,271.38 49,846,598.57 322,955,866.94
其中：房屋及建筑物 247,186,622.51 -2,534,759.00 31,854,126.79 212,797,736.72
机器设备 90,029,718.94 -3,462,106.98 13,476,844.62 73,090,767.34
运输工具 12,495,070.05 -162,418.03 454,907.63 11,877,744.39
电子设备 5,128,201.30 -196,866.82 82,511.40 4,848,823.08
固定资产装修 275,446.47 -64,182.48 0.00 211,263.99
其他设备 27,124,677.62 -3,016,938.07 3,978,208.13 20,129,531.42
本期折旧额20,337,885.27 元。
本期由在建工程转入固定资产原价为758,416.89 元。
上述固定资产期末余额中，部分房屋建筑物、土地使用权等作为抵押物向银行取得借款，
详见本附注八（一）重大承诺事项披露的抵押资产情况。
2、 期末未办妥产权证书的固定资产
项 目 账面价值 未办妥产权证书的原因预计办结产权证书时间
房屋及建筑物 735,002.62 自建房屋，正在办理
合 计 735,002.62
(十五) 在建工程
期末余额 年初余额
项 目
账面余额 减值准备账面价值 账面余额 减值准备 账面价值
缝制设备工
程
494,512.17 494,512.17 370,894.99 370,894.99
ERP 项目 1,036,542.50 1,036,542.50 1,036,542.50 1,036,542.50
电子设备 121,966.92 121,966.92上工申贝（集团）股份有限公司 2010 年半年度报告
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机器设备 187,946.63 187,946.63 360,771.56 360,771.56
合 计 1,719,001.30 1,719,001.30 1,890,175.97 1,890,175.97
本报告期无需披露的重大在建工程项目。
(十六) 无形资产
1、 无形资产情况
项 目 期初账面余额本期增加 本期减少 期末账面余额
1、账面原值合计 99,686,921.00 88,819.29 17,583,844.32 82,191,895.97
（1）土地使用权 35,877,662.90 35,877,662.90
（2）商标使用权 20,161,268.51 20,161,268.51
（3）电脑软件 175,650.00 175,650.00
（4）专利及非专利技术 43,330,591.39 84,721.00 17,583,844.32 25,831,468.07
（5）其 他 141,748.20 4,098.29 145,846.49
2、累计摊销合计 53,470,373.54 2,808,771.67 17,385,762.62 38,893,382.59
（1）土地使用权 5,257,289.25 571,355.37 5,828,644.62
（2）商标使用权 17,137,077.58 1,008,063.36 18,145,140.94
（3）电脑软件 43,912.50 8,782.50 52,695.00
（4）专利及非专利技术 30,994,656.32 1,213,312.32 17,385,762.62 14,822,206.02
（5）其 他 37,437.89 7,258.12 44,696.01
3、无形资产账面净值合计 46,216,547.46 -2,719,952.38 198,081.70 43,298,513.38
（1）土地使用权 30,620,373.65 -571,355.37 30,049,018.28
（2）商标使用权 3,024,190.93 -1,008,063.36 2,016,127.57
（3）电脑软件 131,737.50 -8,782.50 122,955.00
（4）专利及非专利技术 12,335,935.07 -1,128,591.32 198,081.70 11,009,262.05
（5）其 他 104,310.31 -3,159.83 101,150.48
4、减值准备合计
（1）土地使用权
（2）商标使用权
（3）电脑软件
（4）专利及非专利技术
（5）其 他
无形资产账面价值合计 46,216,547.46 -2,719,952.38 198,081.70 43,298,513.38
（1）土地使用权 30,620,373.65 -571,355.37 30,049,018.28
（2）商标使用权 3,024,190.93 -1,008,063.36 2,016,127.57
（3）电脑软件 131,737.50 -8,782.50 122,955.00
（4）专利及非专利技术 12,335,935.07 -1,128,591.32 198,081.70 11,009,262.05
（5）其 他 104,310.31 -3,159.83 101,150.48
本期摊销额2,808,771.67 元。
上述无形资产期末余额中，部分土地使用权作为抵押物向银行取得借款，详见本附注八上工申贝（集团）股份有限公司 2010 年半年度报告
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（一）重大承诺事项披露的抵押资产情况。
2、 公司开发项目支出
本期转出数
项 目 年初余额 本期增加
计入当期损益
确认
为无
形资
产
其他
期末余额
开发支
出
54,761,596.82 9,255,249.00 8,309,382.73 8,530,245.98 47,177,217.11
合 计 54,761,596.82 9,255,249.00 8,309,382.73 8,530,245.98 47,177,217.11
(十七) 商誉
被投资单位名称或形成
商誉的事项
年初余额 本期增加 本期减少 期末余额 期末减值准备
Beisler GmbH 28,544,830.56 4,446,444.96 24,098,385.60
合 计 28,544,830.56 4,446,444.96 24,098,385.60
商誉本期减少为子公司上工(欧洲)控股有限责任公司年初与期末外币报表折算汇率差形
成。
(十八) 递延所得税资产和递延所得税负债
递延所得税资产和递延所得税负债不以抵销后的净额列示
已确认的递延所得税资产和递延所得税负债
项 目 期末数 期初数
递延所得税资产：
资产减值准备 14,310,573.03 14,848,592.83
可抵扣经营亏损 20,292,694.84 23,676,675.99
小 计 34,603,267.87 38,525,268.82
递延所得税负债：
资产评估增值 13,704,070.32 14,201,312.07
其 他 13,930,700.31 16,526,592.99
小 计 27,634,770.63 30,727,905.06
(十九) 资产减值准备
本期减少
项 目 年初余额 本期增加
转 回 转销及其他
期末余额
坏账准备 226,554,466.36 2,364,553.50 6,867,079.49 10,021,103.10 212,030,837.27
存货跌价准备 142,370,213.21 487,490.51 8,131,865.57 21,381,436.08 113,344,402.07
长期股权投资减值2,624,797.59 2,624,797.59上工申贝（集团）股份有限公司 2010 年半年度报告
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准备
投资性房地产减值
准备
9,708,906.31 1,512,362.02 8,196,544.29
固定资产减值准备 75,180,518.48 30,090.63 75,150,427.85
合 计 456,438,901.95 2,852,044.01 14,998,945.06 32,944,991.83 411,347,009.07
(二十) 短期借款
1、 短期借款分类
项 目 期末余额 年初余额
抵押借款 115,339,883.95 146,000,000.00
保证借款 115,600,000.00 100,600,000.00
信用借款 40,348,148.62 40,348,148.62
合 计 271,288,032.57 286,948,148.62
2、 公司以部分资产作为抵押物向银行取得借款115,339,883.95 元，详见本
附注八（一）重大承诺事项披露的抵押资产情况。
3、 公司保证借款115,600,000.00 元，由上海浦东发展（集团）有限公司担
保取得, 详见本附注八（一）重大承诺事项披露的其他重大财务承诺事
项。
(二十一) 应付票据
种 类 期末余额 年初余额
银行承兑汇票 -- 2,808,428.76
合 计 -- 2,808,428.76
(二十二) 应付账款
1、
期末余额 年初余额
112,124,176.68 137,481,885.22
2、 期末余额中无欠持本公司5％以上（含5％）表决权股份的股东单位款项。
3、 期末余额中无欠关联方款项。
(二十三) 预收账款
1、
期末余额 年初余额
81,393,759.50 40,261,334.94
2、 期末余额中无预收持本公司5％以上（含5％）表决权股份的股东单位款
项。上工申贝（集团）股份有限公司 2010 年半年度报告
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3、 期末余额中无预收关联方款项。
(二十四) 应付职工薪酬
项 目 年初余额 本期增加 本期减少 期末余额
（1）工资、奖金、津贴和补贴 28,721,460.72 157,248,847.39 173,747,365.36 12,222,942.75
（2）职工福利费 26,725,613.75 26,725,613.75
（3）社会保险费 200,276.80 8,681,296.70 8,798,239.80 83,333.70
（4）住房公积金 1,800.00 1,913,500.00 1,915,300.00
（5）工会经费和职工教育经费 467,265.85 417,272.17 408,942.40 475,595.62
（6）辞退福利 126,592,540.80 1,319,168.18 58,062,428.50 69,849,280.48
（7）其 他 150,202.56 1,032,198.28 1,032,198.28 150,202.56
合 计 156,133,546.73 197,337,896.47 270,690,088.09 82,781,355.11
期末余额中主要为上工欧洲（控股）有限责任公司根据企业所在国的法律规定计算提取的
退休人员工资、其他员工奖金、辞退福利以及本公司因解除劳动关系计提的人员分流补偿
费等。
(二十五) 应交税费
税费项目 期末余额 年初余额
增值税 151,113.88 -103,675.52
营业税 97,849.27 159,878.70
企业所得税 -944,799.95 -2,033,945.59
个人所得税 3,890,636.76 8,660,704.40
城市维护建设税 91,588.62 104,601.36
房产税 157,772.64 113,701.00
土地增值税
教育费附加 34,910.52 40,487.41
印花税 31,979.00 31,979.00
堤防费 5,951.14
河道管理费 9,239.59 3,414.78
其 他 845.38 845.34
合 计 3,521,135.71 6,983,942.02
境外子公司按各国税法规定执行法定税率。
(二十六) 其他应付款
1、
期末余额 年初余额
129,990,327.21 277,037,653.23
2、 期末余额中无欠持本公司5％以上（含5％）表决权股份的股东单位款项。
3、 期末余额中无欠关联方款项。上工申贝（集团）股份有限公司 2010 年半年度报告
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(二十七) 预计负债
项 目 年初余额 本期增加 本期减少 期末余额
对外提供担保 35,546,274.60 35,546,274.60
养老金 376,110,669.00 64,343,509.15 311,767,159.85
其 他 11,855,564.66 2,104,193.62 9,751,371.04
合 计 423,512,508.26 66,447,702.77 357,064,805.49
养老金系德国DA 公司根据德国的法律计算提取的职工养老金等款项。
对外提供担保是指公司为上海华源企业发展股份有限公司借款提供担保形成
的或有负债，公司董事会已于2008 年度决议计提预计负债，详见本附注七
（一）。
(二十八) 一年内到期的非流动负债
项 目 期末余额 年初余额
一年内到期的长期借款 520,000.00 520,000.00
合 计 520,000.00 520,000.00
(二十九) 其他流动负债
项 目 期末余额 年初余额
利息和租金 280,230.99 700,031.40
合 计 280,230.99 700,031.40
年初及期末余额均系公司的子公司上工（欧洲）控股有限责任公司提前收到的归属于以后
期间的利息和租金。
(三十) 长期借款
借款类别 期末余额 年初余额
信用借款 1,489,984.87 1,489,984.87
合 计 1,489,984.87 1,489,984.87
(三十一) 长期应付款
期末主要长期应付款情况：
单位 期限 初始金额 利率(%) 应计利息期末余额 借款条件
South China
Development
(H.K.)
Limited
2009/12/22-2011/12/21 USD3,000,000.00 3.00 20,484,568.35 信用借款上工申贝（集团）股份有限公司 2010 年半年度报告
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(三十二) 股本
本期变动增（+）减（－）
项 目 年初余额
发行新股 送股 公积金转股 其他 小计
期末余额
1．有限售条件股份
(1). 国家持股
(2). 国有法人持股
(3). 其他内资持股
其中：
境内法人持股
境内自然人持股
(4). 外资持股
其中：
境外法人持股
境外自然人持股
有限售条件股份合计
2．无限售条件流通股份
(1). 人民币普通股 204,943,027.00 204,943,027.00
(2). 境内上市的外资股 243,943,750.00 243,943,750.00
(3). 境外上市的外资股
(4). 其 他
无限售条件流通股份合计 448,886,777.00 448,886,777.00
合 计 448,886,777.00 448,886,777.00上工申贝（集团）股份有限公司 2010 年半年度报告
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(三十三) 资本公积
项 目 年初余额 本期增加 本期减少 期末余额
1.资本溢价（股本溢价） 313,159,549.73 313,159,549.73
2.公允价值计量变动 4,734,657.57 654,297.72 4,080,359.85
3.其他资本公积 79,274,261.25 3,327,311.88 75,946,949.37
合 计 397,168,468.55 3,981,609.60 393,186,858.95
资本公积本期减少为本期可供出售金融资产公允价值变动损益及权益法下子公司资本公积
变化形成。
(三十四) 盈余公积
项 目 年初余额 本期增加 本期减少 期末余额
法定盈余公积 2,273,121.26 2,273,121.26
任意盈余公积 2,273,121.26 2,273,121.26
合 计 4,546,242.52 4,546,242.52
(三十五) 未分配利润
项 目 金 额 提取或分配比例
调整前 上年末未分配利润 -282,061,908.47
调整 年初未分配利润合计数（调增+，调减-）
调整后 年初未分配利润 -282,061,908.47
加： 本期归属于母公司所有者的净利润 3,662,614.03
减：提取法定盈余公积
提取任意盈余公积
应付普通股股利
期末未分配利润 -278,399,294.44
(三十六) 营业收入及营业成本
1、 营业收入
项 目 本期发生额 上期发生额
主营业务收入 835,709,947.05 735,028,453.93
其他业务收入 19,291,920.79 19,353,585.16
营业成本 685,456,147.32 667,761,921.44
2、 主营业务（分行业）
本期发生额 上期发生额
行业名称
营业收入 营业成本 营业收入 营业成本
（1）工 业 613,988,623.10 519,927,235.53 558,732,038.79 490,794,299.97
（2）商 业 219,094,257.27 156,167,374.93 173,230,274.42 170,123,756.20
（3）其 他 2,627,066.68 1,135,217.07 3,066,140.72 1,330,277.83
合 计 835,709,947.05 677,229,827.53 735,028,453.93 662,248,334.00上工申贝（集团）股份有限公司 2010 年半年度报告
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3、 主营业务（分产品）
本期发生额 上期发生额
产品名称
营业收入 营业成本 营业收入 营业成本
缝制设备 523,987,756.42 402,394,636.57 420,782,498.62 384,747,614.76
出口代理 122,012,491.11 119,877,687.16 111,189,090.34 108,583,798.01
物料传输设备 115,736,103.00 89,872,686.00 137,429,604.00 110,464,286.40
办公机械 12,153,562.62 11,132,938.33 13,853,547.22 13,097,914.79
影像器材 59,192,967.22 52,816,662.40 49,123,161.03 44,351,654.01
其 他 2,627,066.68 1,135,217.07 2,650,552.72 1,003,066.03
合 计 835,709,947.05 677,229,827.53 735,028,453.93 662,248,334.00
4、 主营业务（分地区）
本期发生额 上期发生额
地区名称
营业收入 营业成本 营业收入 营业成本
境内 472,519,665.09 437,279,912.31 424,170,664.35 399,357,875.23
境外 410,307,907.28 287,067,540.54 353.376.589.28 305,409,258.47
减：公司内部销售相互抵销 47,117,625.32 47,117,625.32 42,518,799.70 42,518,799.70
合 计 835,709,947.05 677,229,827.53 735,028,453.93 662,248,334.00
境内、境外系公司各销售主体注册所在地。
5、 公司前五名客户的营业收入情况
排名 营业收入总额 占公司全部营业收入的比例(%)
第一名客户 75,605,871.71 8.84
第二名客户 39,754,889.68 4.65
第三名客户 36,174,370.98 4.23
第四名客户 32,505,030.00 3.80
第五名客户 18,171,387.00 2.13
(三十七) 营业税金及附加
项 目 本期发生额 上期发生额
营业税 758,493.30 853,128.53
城市维护建设税 100,888.76 218,378.70
教育费附加 59,508.18 93,590.90
其 他 811,202.85 1,096,350.83
合 计 1,730,093.09 2,261,448.96
(三十八) 公允价值变动收益上工申贝（集团）股份有限公司 2010 年半年度报告
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产生公允价值变动收益的来源 本期发生额 上期发生额
交易性金融资产 -82,143.59 872,969.06
其中：衍生金融工具产生的公允价值变动收益
交易性金融负债
按公允价值计量的投资性房地产
合 计 -82,143.59 872,969.06
(三十九) 投资收益
1、 投资收益明细情况
项 目 本期发生额 上期发生额
成本法核算的长期股权投资收益 7,488,534.65 15,163,686.35
权益法核算的长期股权投资收益
处置长期股权投资产生的投资收益 -130,311.56
处置交易性金融资产取得的投资收益 90,714.22 83,559.33
可供出售金融资产等取得的投资收益 360,483.16 103,950.00
其 他
合 计 7,809,420.47 15,351,195.68
本公司投资收益汇回无重大限制。
2、 按成本法核算的主要长期股权投资收益
被投资单位 本期发生额 上期发生额
本期比上期增减变
动的原因
上海富士施乐有限公司 6,465,162.65 11,637,292.77 现金分配利润下降
上海申丝企业发展有限公司 2,776,393.58 本期未分配
上海广濑精密工业有限公司 750,000.00 750,000.00
(四十) 资产减值损失
项 目 本期发生额 上期发生额
坏账损失 -4,502,525.99 -525,607.61
存货跌价损失 -7,644,375.06 -279,603.63
合 计 -12,146,901.05 -805,211.24
(四十一) 财务费用
类 别 本期发生额 上期发生额
利息支出 16,258,362.57 30,954,240.27
减：利息收入 1,360,815.46 2,109,730.61上工申贝（集团）股份有限公司 2010 年半年度报告
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汇兑损益 -143,224.07 519,225.33
其 他 981,900.29 1,318,743.94
合 计 15,736,223.33 29,644,028.27
(四十二) 营业外收入
1、
项 目 本期发生额 上期发生额
非流动资产处置利得合计 10,448,334.70 813,631.96
其中：处置固定资产及无形资产利得 10,448,334.70 813,631.96
非货币性资产交换利得
债务重组利得
接受捐赠
政府补助 967,681.00 152,800.00
违约金、罚款收入
其 他 5,505,138.43 379,123.32
合 计 16,921,154.13 1,345,555.28
2、 政府补助明细
项 目 本期发生额 上期发生额 说明
泰国中小企业资金拨款 38,500.00
对外经济技术合作专项资金 924,181.00 147,800.00
车辆以旧换新补贴 5,000.00 5,000.00
合 计 967,681.00 152,800.00
(四十三) 营业外支出
项 目 本期发生额 上期发生额
非流动资产处置损失合计 2,424,333.92 329,952.27
其中：固定资产处置损失 2,424,333.92 329,952.27
无形资产处置损失
对外捐赠
其中：公益性捐赠支出
罚款滞纳金支出 3,728.25
赔偿支出
其 他 122,660.27 1,890,703.01
合 计 2,550,722.44 2,220,655.28
(四十四) 所得税费用上工申贝（集团）股份有限公司 2010 年半年度报告
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项 目 本期发生额 上期发生额
当期所得税费用 1,810,786.65 973,638.14
递延所得税费用 726,542.84 98,260.09
合 计 2,537,329.49 1,071,898.23
(四十五) 基本每股收益和稀释每股收益的计算过程
项 目 本期发生额 上期发生额
基本每股收益（元） 0.0082 -0.2928
稀释每股收益（元） 0.0082 -0.2928
基本每股收益
基本每股收益=P0÷S
S= S0＋S1＋Si×Mi÷M0– Sj×Mj÷M0-Sk
其中：P0 为归属于公司普通股股东的净利润或扣除非经常性损益后归属于普通股股东
的净利润；S 为发行在外的普通股加权平均数；S0 为期初股份总数；S1 为报告
期因公积金转增股本或股票股利分配等增加股份数；Si 为报告期因发行新股或
债转股等增加股份数；Sj 为报告期因回购等减少股份数；Sk 为报告期缩股数；
M0 报告期月份数；Mi 为增加股份次月起至报告期期末的累计月数；Mj 为减少
股份次月起至报告期期末的累计月数。
稀释每股收益
稀释每股收益=P1/(S0＋S1＋Si×Mi÷M0–Sj×Mj÷M0–Sk+认股权证、股份期权、可
转换债券等增加的普通股加权平均数)
其中，P1 为归属于公司普通股股东的净利润或扣除非经常性损益后归属于公司普通股
股东的净利润，并考虑稀释性潜在普通股对其影响，按《企业会计准则》及有
关规定进行调整。公司在计算稀释每股收益时，应考虑所有稀释性潜在普通股
对归属于公司普通股股东的净利润或扣除非经常性损益后归属于公司普通股股
东的净利润和加权平均股数的影响，按照其稀释程度从大到小的顺序计入稀释
每股收益，直至稀释每股收益达到最小值。
(四十六) 其他综合收益
项 目 本期发生额 上期发生额
1.可供出售金融资产产生的利得（损失）金额 -654,297.72 2,150,606.73
减：可供出售金融资产产生的所得税影响
前期计入其他综合收益当期转入损益的净额
小 计 -654,297.72 2,150,606.73
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的份额-7,203,568.65 7,179,972.07
减：按照权益法核算的在被投资单位其他综合收益中所享有的上工申贝（集团）股份有限公司 2010 年半年度报告
74
项 目 本期发生额 上期发生额
份额产生的所得税影响
前期计入其他综合收益当期转入损益的净额
小 计 -7,203,568.65 7,179,972.07
3.现金流量套期工具产生的利得（或损失）金额
减：现金流量套期工具产生的所得税影响
前期计入其他综合收益当期转入损益的净额
转为被套期项目初始确认金额的调整
小 计
4.外币财务报表折算差额 -31,858,148.38 -684,160.51
减：处置境外经营当期转入损益的净额
小 计 -31,858,148.38 -684,160.51
5.其 他
减：由其他计入其他综合收益产生的所得税影响
前期其他计入其他综合收益当期转入损益的净额
小 计
合 计 -39,716,014.75 8,646,418.29
(四十七) 现金流量表附注
1、 收到的其他与经营活动有关的现金
项 目 本期金额
收回往来款 8,157,152.83
专项补贴、补助款 924,181.00
利息收入 1,360,815.46
营业外收入 52,414.00
合 计 10,494,563.29
2、 支付的其他与经营活动有关的现金
项 目 本期金额
企业间往来 14,142,835.26
销售费用支出 29,201,596.49
管理费用支出 16,518,461.89
营业外支出 126,388.52
银行手续费 409,161.43
合 计 60,398,443.59
3、 支付的其他与筹资活动有关的现金
项 目 本期金额
银行存单、保证金等质押、抵押 10,586.88
合 计 10,586.88
(四十八) 现金流量表补充资料上工申贝（集团）股份有限公司 2010 年半年度报告
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1、 现金流量表补充资料
项 目 本期金额 上期金额
1、将净利润调节为经营活动现金流量
净利润 5,870,407.29 -141,619,706.40
加：资产减值准备 -12,146,901.05 -805,211.24
固定资产折旧、油气资产折耗、生产性生物资产折
旧
22,969,949.66 24,021,831.65
无形资产摊销 11,118,154.40 13,168,411.12
长期待摊费用摊销 140,504.09
处置固定资产、无形资产和其他长期资产的损失
（收益以“－”号填列）
-8,024,000.78 -803,925.03
固定资产报废损失（收益以“－”号填列） 320,245.34
公允价值变动损失（收益以“－”号填列） 82,143.59 -872,969.06
财务费用（收益以“－”号填列） 16,115,138.50 31,753,758.88
投资损失（收益以“－”号填列） -7,809,420.47 -15,351,195.68
递延所得税资产减少（增加以“－”号填列） 3,922,000.95 695,511.48
递延所得税负债增加（减少以“－”号填列） -3,093,134.43 1,383,633.36
存货的减少（增加以“－”号填列） 49,247,309.26 40,877,140.83
经营性应收项目的减少（增加以“－”号填列） -17,070,653.17 -18,010,581.38
经营性应付项目的增加（减少以“－”号填列） -141,139,281.03 -22,043,003.52
其 他
经营活动产生的现金流量净额 -79,958,287.28 -87,145,555.56
2、不涉及现金收支的重大投资和筹资活动
债务转为资本
一年内到期的可转换公司债券
融资租入固定资产
3、现金及现金等价物净变动情况
现金的期末余额 262,645,796.47 279,543,022.77
减：现金的年初余额 467,658,653.68 353,799,316.68
加：现金等价物的期末余额
减：现金等价物的年初余额
现金及现金等价物净增加额 -205,012,857.21 -74,256,293.91
2、 现金和现金等价物的构成：
项 目 期末余额 年初余额
一、现 金 262,645,796.47 467,658,653.68
其中：库存现金 911,138.06 625,554.54
可随时用于支付的银行存款 255,318,127.54 463,439,749.85
可随时用于支付的其他货币资金 6,416,530.87 3,593,349.29
可用于支付的存放中央银行款项
存放同业款项
拆放同业款项上工申贝（集团）股份有限公司 2010 年半年度报告
76
二、现金等价物
其中：三个月内到期的债券投资
三、期末现金及现金等价物余额 262,645,796.47 467,658,653.68
现金和现金等价物不含公司及合并范围内子公司使用受限制的现金和现金等价物。上工申贝（集团）股份有限公司 2010 年半年度报告
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六、 关联方及关联交易
(一) 本企业的母公司情况
母公司名称
关联
关系
企业
类型
注册地法定代表人业务性质 注册资本
母公司对本公司
的持股比例(%)
对本公司的表
决权比例(%)
本公司最终控制方组织机构代码
上海市浦东新
区国有资产监
督管理委员会
控股
股东
上海 陆方舟
受上海市浦东新区人民
政府委托，专司浦东新
区国有资产管理。
24.44 24.44
上海市浦东新区国
有资产监督管理委
员会
00245606-0
(二) 本企业的子公司情况： （金额单位：万元）
子公司全称 子公司类型 企业类型 注册地 法定代表人 业务性质 注册资本持股比例(%) 表决权比例(%) 组织机构代码
上海上工汽车运输服务公司 全资子公司 非公司制企业上海 陈永朴 运输 210 100 100 13374126-7
杜克普爱华贸易(上海）有限公司 控股子公司 有限责任公司上海 张敏
缝制设备进出口
等
USD400 40 74 78627462-7
上海双重包缝机有限公司 控股子公司 有限责任公司上海 陈长保 缝制设备等 1,200 70 90 63132496-8
上海上工蝴蝶缝纫机有限公司 全资子公司
一人有限责任
公司
上海 李晓峰 缝制设备等 7,900 100 100 74809363-0
杜克普爱华工业制造（上海）有限公司 控股子公司 有限责任公司上海 张敏 缝制设备等 USD1,000 70 100 79144591-0
上海上工佳源机电有限公司 控股子公司 有限责任公司上海 王家兴 缝制设备等 300 67 72 13214459-1
上海索营置业有限公司 控股子公司 有限责任公司上海 马民良 房地产开发等 1,300 69 69 13246335-7
上海工业缝纫机物产总公司 全资子公司 非公司制企业上海 蒋金荣 缝制设备等 465 100 100 13224151-9
上海永德经济发展有限公司 控股子公司 有限责任公司上海 张一枫 机电设备销售等200 80 80 13224080-7
上海富华轻机有限公司 控股子公司 有限责任公司上海 陈明其
生产销售服装机
械
USD100 55 55 60725436-5
上工(欧洲)控股有限责任公司 全资子公司 有限责任公司德国 张敏 缝制设备等 EUR2,250 100 100
上海申贝外高桥办公设备有限公司 全资子公司 有限责任公司上海 杨文倡 保税区内仓储等862 100 100 13221916-X
上海申贝长城号码机械有限公司 全资子公司 有限责任公司上海 李汉华 生产销售号码机636 100 100 13232138-3上工申贝（集团）股份有限公司 2010 年半年度报告
78
子公司全称 子公司类型 企业类型 注册地 法定代表人 业务性质 注册资本持股比例(%) 表决权比例(%) 组织机构代码
械
上海申贝办公机械进出口有限公司 控股子公司 有限责任公司上海 李嘉明 进出口业务 500 80 100 72951976-3
(三) 本企业的合营和联营企业情况 （金额单位：万元）
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
本企业
持股比
例(%)
本企业在被
投资单位表
决权比例(%)
期末资
产总额
期末负
债总额
期末净资
产总额
本期营业收
入总额
本期净
利润
关联关
系
组织机构代码
联营企业:
常熟市启兴电镀五
金有限责任公司
有限责任
公司
常熟
王目
炯
电镀、号
码机零部
件生产
280.00 90 90 465.52 254.15 211.37
联营企
业
14204429-5
上海华之杰塑胶有
限公司
有限责任
公司
上海
戴四
维
化工产品
生产
USD764 25 25 545.72 251.21 294.51
联营企
业
60734921-7上工申贝（集团）股份有限公司 2010 年半年度报告
79
(四) 本企业的其他关联方情况
其他关联方名称 其他关联方与本公司的关系 组织机构代码
上海广濑精密工业有限公司 本公司参股公司 60742796-7
(五) 关联方交易
1、 存在控制关系且已纳入本公司合并会计报表范围的子公司，其相互间交易
及母子公司交易已作抵销。
2、 关联租赁情况 （金额单位：万元）
出租方名称 承租方名称
租赁资产
情况
租赁资产
涉及金额
租赁起始
日
租赁终止
日
租赁收
益
租赁收益
确认依据
租赁收益对
公司影响
上工申贝
（集团）股
份有限公司
上海广濑精密
工业有限公司
机器设备308.87 2006/3/11 2011/3/11 25.00 合同协议 无重大影响
3、 关联方资金拆借
本公司控股股东上海市浦东新区国有资产监督管理委员会委托上海银行
浦东分行向本公司发放免息委托贷款，期限和金额分别如下：
关联方 拆入金额 起始日 到期日 说明
上海市浦东新区国有资产监督管理委员会 40,000,000.00 2009/11/24 2010/11/24 未到期
七、 或有事项
(一) 未决诉讼或仲裁形成的或有负债及其财务影响
公司与上海华源企业发展股份有限公司（下称“华源发展”）因正常经营业务需
要建立互保关系，截止2010 年6 月30 日，公司为华源发展向中国建设银行股份有限
公司上海市分行（下称“建行市分行”）、深圳发展银行上海分行（下称“深发展上
海分行”）借款金额11,848.8 万元提供担保，具体担保借款明细如下：（单位：万
元）
被担保单位
担保借款
金额
借款期限 担保类型
是否已经履
行完毕
对本公司的财
务影响
上海华源企业发展股份有限公司 3,000 2004/11/11-2005/11/9 连带责任担保否
上海华源企业发展股份有限公司 848.8 2005/3/29-2005/9/29 连带责任担保否
上海华源企业发展股份有限公司 1,000 2005/5/27-2006/5/23 连带责任担保否
上海华源企业发展股份有限公司 1,000 2005/6/13-2005/9/29 连带责任担保否
上海华源企业发展股份有限公司 3,000 2005/6/6-2006/6/1 连带责任担保否
上海华源企业发展股份有限公司 3,000 2005/7/14-2006/7/4 连带责任担保否
已经签和解协
议，继续承担
连带保证责任
小 计 11,848.8
建行市分行和深发展上海分行以华源发展到期未还款为由，于2007 年分别向上
海市第一中级人民法院（下称市一中院）提起诉讼，要求公司承担担保责任，代华源
发展偿付借款本息，二案合计人民币13,912.8 万元。其中：
1、深发展上海分行诉讼标的为2,240.8 万元（其中本金1,848.8 万元），该行采取诉
讼保全,查封了公司股东账户卡内的股票以及公司部分银行账户。该案已于2007 年9上工申贝（集团）股份有限公司 2010 年半年度报告
80
月11 日开庭审理并于9 月25 日作出一审判决，要求公司归还深发展上海分行本金
18,487,582 元及利息等，履行义务后有权向华源发展追偿。对此，公司已于2007 年9
月30 日向上海市高级人民法院（下称市高院）提起上诉，并被受理。在二审审理过程
中，本公司与深发展上海分行经过协商，同意签订和解协议，主要内容如下：（1）深
发展上海分行为实现债权已支付的案件受理费及财产保全费由本公司承担；（2）本公
司继续对华源发展在标的借款合同项下的全部债务承担连带保证责任，保证期间为本
协议签订之日起两年；在此期间深发展上海分行与华源发展就债务履行期另行达成一
致协议的，保证期间至协议重新约定的债务履行期届满之日后两年止。（3）为保障深
发展上海分行债权的实现，公司以下属原子公司上海申贝办公机械有限公司名下位于
上海市虹口区保定路419 号底层商场作抵押担保，并以公司所持部分股票提供质押担
保；（4）本公司与深发展上海分行进一步加强业务合作；（5）本公司向市高院申请
撤诉，自行承担二审诉讼费用；（6）协议签订后壹年内，深发展上海分行不会向本公
司主张担保责任；协议生效后，深发展上海分行不以（2007）沪一中民三（商）初字
第98 号民事判决书为依据，向法院提出执行申请；本公司应当履行担保责任而未履
行时，同意深发展上海分行采取诉讼等方式解决。
本公司于2008 年9 月23 日与深发展上海分行签订了上述和解协议，并于2008
年11 月5 日收到市高院下达的民事裁定书[（2007）沪高民二（商）终字第134 号]，
准许本公司以与深发展上海分行达成和解协议为由，撤回上诉。
2、建行市分行诉讼标的为11,672 万元（其中本金10,000 万元），该行采取诉讼保全，
查封了公司部分地块，该案于2007 年8 月7 日下午开庭审理，并在当年12 月13 日作
出判决，要求公司承担担保责任，公司于2008 年1 月2 日向市高院提起上诉。在二审
审理过程中，本公司与建行市分行经过协商，同意签订和解协议，主要内容如下：(1)
建行市分行为实现债权所支付的四案件受理费、财产保全费、律师费等由本公司承担；
(2)本公司继续对华源发展在标的借款合同项下的全部债务承担连带保证责任，保证期
间为本协议签订之日起两年,在此期间，建行市分行与华源发展就债务履行达成展期协
议的，保证期间至展期协议重新约定的债务履行期届满之日后两年止。展期无需再经
本公司同意，本公司仍需承担连带保证责任；(3)为保障建行市分行债权的实现，公司
以坐落于上海市卢湾区打浦路603 号的自有房地产提供抵押担保；(4)本公司向市高院
申请撤诉，自行承担二审诉讼费用；(5)协议签订后壹年内，建行市分行不会向本公司
主张担保责任；协议生效后，建行市分行不以（2007）沪一中民三（商）初字第77、
78、79、80 号民事判决书为依据，向法院提出执行申请；本公司应当履行担保责任而
未履行时，同意建行市分行采取诉讼等方式解决。
本公司于2008 年4 月10 日与建行市分行签订了上述和解协议，并于2008 年6
月26 日收到市高院下达的民事裁定书[（2008）沪高民二（商）终字第25 号]，准许上工申贝（集团）股份有限公司 2010 年半年度报告
81
本公司以与建行市分行达成和解协议为由，撤回上诉。
3、华源发展以其持有的江西新余华源远东纺织有限公司95%的股权和上海华源针织时
装有限公司88.53%的股权作为本公司对华源发展向银行借款提供担保的反担保质押
标的。因华源发展在公司未知情况下将用于为公司反担保质押标的之一的江西新余远
东纺织有限公司95%股权出售给江西新余市国资委，江西新余市国资委将远东纺织有
限公司整体产权通过江西省产权交易所网站公开挂牌转让。公司以此转让合同无效向
市一中院提起财产权属纠纷的诉讼，法院立案受理。2008 年3 月27 日，市一中院对
本公司与华源发展、江西新余市国资委财产权属纠纷一案审理终结，分别出具了民事
裁定书和民事调解书[（2007）沪一中民四（商）初字第35 号]，民事裁定书裁定如下：
本公司撤回对江西新余市国资委的诉讼请求。同时经法院主持，本公司与华源发
展达成调解协议，华源发展以其持有的张家港中东石化实业有限公司23.715%股权、
江苏雅鹿实业股份有限公司35.3259%的股份调换原先的江西新余远东纺织有限公司
95%股权作为反担保质押标的。为确保反担保质押标的的实现，公司于2008 年4 月10
日向市一中院申请财产保全，冻结了华源发展持有的张家港中东石化实业有限公司
23.715%股权、江苏雅鹿实业股份有限公司35.3259%的股份、上海华源针织时装有限
公司88.53%的股份。经公司董事会会议审议通过，公司已于2008 年度按担保的本金
金额计提30%的预计负债，计提金额为：35,546,274.60 元。此外，公司为支持华源
发展资产重组，根据其第一大股东中国华源集团有限公司与金融债权人委员会要求，
在华源发展重组计划能获得实施的前提下，同意办理债务平移所引起的变更担保手
续。
(二) 为其他单位提供债务担保形成的或有负债及其财务影响
1、 截止 2010 年6 月 30 日公司为其他单位提供债务担保形成的或有负债
本公司与上海华源企业发展股份有限公司（下称“华源发展”）签订了互为对方
向银行贷款提供担保的协议，截止2010 年6 月30 日，公司为“华源发展”提供的担
保尚余六笔，逾期贷款本金金额为11,848.8 万元（详见附注七（一））。
2、 截止 2010 年6 月 30 日公司为子公司上工(欧洲)控股有限责任公司提供债务
担保形成的或有负债 （单位:万元）
被担保单位 担保金额担保期限 担保类型
是否已经
履行完毕
对本公司的财务影响
上工(欧洲)控股有限
责任公司
USD530 2005/6/30-2015/10/31 担保函 否
可到期偿还债务，未
造成不利影响。
根据本公司与德国FAG Kugelfischer GmbH（下称“FAG 公司”）签订的德国DA
公司股份转让协议，本公司需对下述事项承担一定的连带担保责任：
2005 年度，本公司为DA 公司在美国子公司的房屋租赁向FAG 公司出具了金额不
超过530 万美元的担保函，担保期限从2005 年6 月30 日至2015 年10 月31 日；同上工申贝（集团）股份有限公司 2010 年半年度报告
82
时“上工欧洲”于2005 年6 月30 日向FAG 公司提供了63.5 万欧元、同等期限的现
金质押，用于对FAG 公司为DA 公司在美国的一家子公司与UTF Norcross L.L.C.之间
的房屋售后回租交易所提供的担保提供再担保。
截止2010 年6 月30 日，本公司尚未因上述担保事项发生经济利益的流出。
(三) 其他或有负债
本公司无需要披露的其他或有事项。
八、 承诺事项
(一) 重大承诺事项
1、 已签订的尚未履行或尚未完全履行的对外投资合同及有关财务支出
截至2010 年6 月30 日止，公司无需要披露的已签订的尚未履行或尚未完全履行
的对外投资合同。
2、 已签订的正在或准备履行的大额发包合同及财务影响。
截至2010 年6 月30 日止，公司无需要披露的已签订的正在或准备履行的大额发
包合同。
3、 已签订的正在或准备履行的租赁合同及财务影响。
截至2010 年6 月30 日止，公司无需要披露的已签订的正在或准备履行的重大租
赁合同。
4、 已签订的正在或准备履行的并购协议
截至2010 年6 月30 日止，公司无需要披露的已签订的正在或准备履行的并购协
议。
5、 已签订的正在或准备履行的重组计划
截至2010 年6 月30 日止，公司无需要披露的已签订的正在或准备履行的重组计
划。
6、 其他重大财务承诺事项
(1)抵押资产借款情况（单位：万元）
抵押质押物 抵押用途 借款金额 借款人
局门路436 号 银行借款 4,000 上工申贝（集团）股份有限公司
世纪大道1500 号1101A-1101D 室 银行借款 1,000 上工申贝（集团）股份有限公司
襄阳路175 号房产 银行借款
2,000
2,200
上工申贝（集团）股份有限公司
上工申贝（集团）股份有限公司
银行存款139.0 万欧元 授信额度保证金 上工（欧洲）控股有限公司
银行存款67.3 万欧元 保证金 上工（欧洲）控股有限公司
固定资产1,127.3 万欧元、存货1,214.5 授信额度保证金
282.2 万欧
元
上工（欧洲）控股有限公司上工申贝（集团）股份有限公司 2010 年半年度报告
83
(2)截止 2010 年6 月 30 日关联方及其他单位为公司提供债务担保情况（单位：万元）
担保人 被担保人 担保方式 担保用途 借款金额
非关联方：
上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司 连带责任保证 银行借款 1,750
上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司 连带责任保证 银行借款 2,710
上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司 连带责任保证 银行借款 2,200
上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司 连带责任保证 银行借款 2,900
上海浦东发展（集团）有限公司 上工申贝（集团）股份有限公司 连带责任保证 银行借款 2,000
合 计 11,560
(3)股权质押情况
公司将持有的原全资子公司上海申贝办公机械有限公司100%股权中的48.96%份
额，为上海浦东发展（集团）有限公司向公司提供额度13,560 万元（截止2010 年6
月30 日，实际累计贷款余额11,560 万元）借款保证担保提供股权质押的反担保，担
保期限：自2008 年6 月9 日至2012 年6 月8 日。
(二) 前期承诺履行情况
本公司无需要披露的前期承诺履行情况事项。
九、 资产负债表日后事项
(一) 重要的资产负债表日后事项说明：无
(二) 资产负债表日后利润分配情况说明
根据2010 年8 月26 日公司第六届董事会第九次会议决议，2010 年半年度利润不
予分配。
(三) 其他资产负债表日后事项说明：
截至本财务报表签发日止，公司无需要披露的资产负债表日后发生重大事项。
十、 其他重要事项说明
(一) 重大资产处置情况
公司于2010 年5 月6 召开六届八次董事会，审议通过公司全资子公司上工（欧洲）
控股有限责任公司的控股子公司德国杜克普·阿德勒股份公司出让其子公司杜克普物
料输送技术有限公司股权的议案，公司于2010 年5 月28 日召开公司2009 年度股东
大会，审议批准了上述项目。该股权转让交割手续于2010 年7 月1 日完成。
(二) 吸收合并事项情况
公司以全资子公司上海上工缝纫机有限公司为平台，控股合并公司全资子公司上
海上工进出口有限公司、控股子公司上海蝴蝶进出口有限公司，完成后，上海上工缝
纫机有限公司更名为：上海上工蝴蝶缝纫机有限公司。公司于2010 年5 月6 召开六
届八次董事会及公司2009 年度股东大会先后审议批准了该事项，2010 年6 月28 日上上工申贝（集团）股份有限公司 2010 年半年度报告
84
海上工蝴蝶缝纫机有限公司的工商注册登记手续已经完成。
(三) 以公允价值计量的资产和负债
单位：人民币 元
项 目 年初余额 本期公允价值变动损益计入权益的累计公允价值变动本期计提的减值 期末余额
金融资产
1.以公允价值计量且
其变动计入当期损益
的金融资产（不含衍生
金融资产）
452,884.48 -82,143.59 324,049.68
2.衍生金融资产
3.可供出售金融资产 7,105,317.57 -654,297.72 4,080,359.85 5,927,759.85
金融资产小计 7,558,202.05 -736,441.31 4,080,359.85 6,251,809.53
投资性房地产
生产性生物资产
其 他
上述合计 7,558,202.05 -736,441.31 4,080,359.85 6,251,809.53
金融负债
(四) 其他需要披露的重要事项
截至2010 年6 月30 日止，公司无需要披露的其他重要事项。
十一、 母公司财务报表主要项目注释
(一) 应收账款
1、 应收账款
期末余额 年初余额
种 类
账面金额
占总额比
例(%)
坏账准备
坏账准备
比例(%)
账面金额
占总额
比例(%)
坏账准备
坏账准备
比例(%)
单项金额重
大的应收账
款
12,492,387.84 10.04 2,287,119.38 18.31 17,146,636.68 13.22 857,331.83 5.00
单项金额不
重大但按信
用风险特征
组合后该组
合的风险较
大的应收账
款
111,894,910.68 89.96 98,996,361.50 88.47 112,576,368.40 86.78 100,788,998.98 89.53
其他不重大
应收账款
合 计 124,387,298.52 100.00 101,283,480.88 129,723,005.08 100.00 101,646,330.81
2、 期末单项金额重大或虽不重大但单独进行减值测试的应收账款坏账准备计提：
无上工申贝（集团）股份有限公司 2010 年半年度报告
85
单项金额不重大但按信用风险特征组合后该组合的风险较大的应收账款：
期末余额 年初余额
账 龄 账面余额 账面余额
金 额 比例(%)
坏账准备
金额 比例(%)
坏账准备
1 年
以内
11,998,577.46 10.72 599,928.88 10,693,576.37 9.50 537,206.12
1 至2
年
880,842.14 0.79 176,168.43 1,612,724.00 1.43 322,544.79
2 至3
年
1,590,453.78 1.42 795,226.89 681,639.92 0.61 340,819.96
3 年
以上
97,425,037.30 87.07 97,425,037.30 99,588,428.11 88.46 99,588,428.11
合 计 111,894,910.68 100.00 98,996,361.50 112,576,368.40 100.00 100,788,998.98
3、 期末应收账款中无持本公司5％以上（含5％）表决权股份的股东单位及其他
关联方欠款。
4、 应收账款金额前五名单位情况
单位名称或排名 与本公司关系金额 年限 占应收账款总额的比例(%)
第一名客户 第三方 3,505,433.56 一年以内 2.82
第二名客户 本公司子公司 3,011,291.87 一年以内 2.42
第三名客户 第三方 2,306,802.69 一年以内 1.85
第四名客户 第三方 1,846,959.72 一～三年 1.48
第五名客户 第三方 1,821,900.00 一～三年 1.46
5、 应收关联方账款情况
单位名称 与本公司关系金额
占应收账款总
额的比例(%)
杜克普爱华工业制造(上海)有限公
司
本公司子公司 1,570,263.24 1.26
上海富华轻机有限公司 本公司子公司 23,765.46 0.02
上海上工蝴蝶缝纫机有限公司 本公司子公司 144,992.19 0.12
上海申贝办公机械进出口有限公司 本公司子公司 1,144,214.43 0.92
上海双重包缝机有限公司 本公司子公司 3,011,291.87 2.42
(二) 其他应收款
1、 其他应收款
期末余额 年初余额
种 类
账面金额
占总额
比例(%)
坏账准备
坏账准备
比例(%)
账面金额
占总额
比例(%)
坏账准备
坏账准备
比例(%)
单项金额重199,359,843.91 81.97 9,967,992.20 5.00 220,775,651.52 75.76 11,038,782.58 5.00上工申贝（集团）股份有限公司 2010 年半年度报告
86
大的其他应
收款
单项金额不
重大但按信
用风险特征
组合后该组
合的风险较
大的其他应
收款
43,858,089.44 18.03 23,469,279.04 53.51 70,637,298.58 24.24 24,714,410.03 34.99
其他不重大
其他应收款
合 计 243,217,933.35 100.00 33,437,271.24 291,412,950.10 100.00 35,753,192.61
2、 期末单项金额重大或虽不重大但单独进行减值测试的其他应收款坏账准备计
提：无
单项金额不重大但按信用风险特征组合后该组合的风险较大的其他应收款：
期末余额 年初余额
账 龄 账面余额 账面余额
金额 比例(%)
坏账准备
金额 比例(%)
坏账准备
1 年以内 19,502,690.55 44.47 975,134.53 46,110,418.32 65.28 2,281,806.34
1 至2 年 1,914,596.00 4.37 382,919.20 1,905,935.28 2.70 381,107.06
2 至3 年 659,155.15 1.50 329,577.57 1,138,897.12 1.61 569,448.77
3 年以上 21,781,647.74 49.66 21,781,647.74 21,482,047.86 30.41 21,482,047.86
合 计 43,858,089.44 100.00 23,469,279.04 70,637,298.58 100.00 24,714,410.03
3、 期末其他应收款中无持本公司5％以上（含5％）表决权股份的股东单位及其
他关联方欠款。
4、 其他应收款金额前五名单位情况
排名 与本公司关系性质或内容 金额 年限
占其他应收款总额
的比例(%)
第一名 本公司子公司 往来款 61,089,144.85 一年以内 25.12
第二名 第三方 土地出售款 57,000,000.00 一年以内 23.44
第三名 本公司子公司 往来款 39,012,979.45 一年以内 16.04
第四名 本公司子公司 往来款 33,308,520.05 一年以内 13.69
第五名 本公司子公司 往来款 8,949,199.57 一年以内 3.68
5、 其他应收关联方款项上工申贝（集团）股份有限公司 2010 年半年度报告
87
单位名称 与本公司关系金额
占其他应收款
总额的比例(%)
杜克普爱华工业制造(上海)有限公
司
本公司子公司 36,064,152.34 14.83
上海申贝长城号码机械有限公司 本公司子公司 61,089,144.85 25.12
上海上工蝴蝶缝纫机有限公司 本公司子公司 1,448,330.91 0.60
上海上工进出口有限公司 本公司子公司 2,890,957.82 1.19
上工（欧洲）控股有限责任公司 本公司子公司 39,012,979.45 16.04
上海申贝办公机械进出口有限公司 本公司子公司 270,189.39 0.11
上海双重包缝机有限公司 本公司子公司 8,949,199.57 3.68
上海上工佳源机电科技有限公司 本公司子公司 82,532.24 0.03
上海永德经济发展有限公司 本公司子公司 913,957.71 0.38上工申贝（集团）股份有限公司 2010 年半年度报告
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(三) 长期股权投资 单位：人民币元
被投资单位 核算方法 初始投资成本期初余额 增减变动 期末余额
在被投资
单位持股
比例(%)
在被投资单
位表决权比
例(%)
在被投资单位持
股比例与表决权
比例不一致的说
明
减值准备
本期计提减
值准备
本期现金红
利
上海申贝光通信器材有限公司 权益法 510,000.00 917,111.56 -917,111.56
上海华之杰塑胶有限公司 权益法 1,766,689.38 736,283.66 736,283.66 25 25
权益法小计 1,653,395.22 -917,111.56 736,283.66
上海新光内衣厂（南非） 成本法 308,033.99 308,033.99 308,033.99 14.3 14.3 308,033.99
上海申丝企业发展有限公司 成本法 7,944,827.59 7,944,827.59 7,944,827.59 10.59 10.59
无锡上工缝纫机有限公司 成本法 153,814.26 153,814.26 153,814.26 80 80 153,814.26
上海华联缝制有限公司 成本法 400,000.00 400,000.00 400,000.00 21.74 注
上海富士施乐有限公司 成本法 29,140,749.49 29,140,749.49 29,140,749.49 15.92 15.92 6,465,162.65
上海宝鼎投资股份有限公司 成本法 7,500.00 7,500.00 7,500.00 <5 <5
上海银行 成本法 551,400.00 551,400.00 551,400.00 <5 <5 273,372.00
中国浦发机械股份有限公司 成本法 90,000.00 90,000.00 90,000.00 <5 <5
申银万国证券股份有限公司 成本法 200,000.00 200,000.00 200,000.00 <5 <5
上海广濑精密工业有限公司 成本法 2,840,376.00 30 注 750,000.00
杜可普爱华工业制造（上海）有
限公司
成本法 53,223,926.00 53,223,926.00 53,223,926.00 70 100
杜克普爱华贸易（上海）有限公
司
成本法 11,830,443.11 11,830,443.11 11,830,443.11 40 74
上海工业缝纫机物产总公司 成本法 4,600,000.00 4,600,000.00 4,600,000.00 100 100 932,718.43
上海上工汽车运输服务公司 成本法 2,100,000.00 2,100,000.00 2,100,000.00 100 100
上海永德经济发展有限公司 成本法 1,600,000.00 1,600,000.00 1,600,000.00 80 80
上海蝴蝶进出口有限公司 成本法 10,318,153.64 10,318,153.64 -10,318,153.64 15,286,119.43
上海富华轻机有限公司 成本法 3,168,000.00 3,168,000.00 3,168,000.00 55 55
上海上工佳源机电有限公司 成本法 2,170,728.50 2,170,728.50 2,170,728.50 67 72上工申贝（集团）股份有限公司 2010 年半年度报告
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被投资单位 核算方法 初始投资成本期初余额 增减变动 期末余额
在被投资
单位持股
比例(%)
在被投资单
位表决权比
例(%)
在被投资单位持
股比例与表决权
比例不一致的说
明
减值准备
本期计提减
值准备
本期现金红
利
上海双重包缝机有限公司 成本法 8,400,000.00 8,400,000.00 8,400,000.00 70 90 8,400,000.00
上海索营置业有限公司 成本法 10,313,953.16 10,313,953.16 10,313,953.16 69 69
上海上工进出口有限公司 成本法 28,800,000.00 28,800,000.00 -28,800,000.00
上海上工蝴蝶缝纫机有限公司 成本法 27,000,000.00 27,000,000.00 52,000,000.00 79,000,000.00 100% 100%
上工（欧洲）控股有限责任公司 成本法 107,942,043.64 107,942,043.64 117,213,650.00 225,155,693.64 100 100
上海申贝外高桥办公设备有限
公司
成本法 8,620,000.00 8,620,000.00 8,620,000.00 100 100
上海申贝长城号码机械有限公
司
成本法 6,360,000.00 6,360,000.00 6,360,000.00 100 100 6,360,000.00
上海申贝办公机械进出口有限
公司
成本法 4,000,000.00 4,000,000.00 4,000,000.00 80 100
成本法小计 329,243,573.38 130,095,496.36 459,339,069.74 16,154,566.68 22,774,654.08
合 计 330,896,968.60 129,178,384.80 460,075,353.40 16,154,566.68 22,774,654.08
注：公司不参与上海华联缝制有限公司、上海广濑精密工业有限公司生产经营决策，对被投资单位不构成重大影响，按成本法核算。上工申贝（集团）股份有限公司 2010 年半年度报告
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(四) 营业收入及营业成本
1、 营业收入
项 目 本期发生额 上期发生额
主营业务收入 73,231,325.47 2,729,478.26
其他业务收入 13,103,248.98 4,340,743.48
营业成本 69,387,960.27 5,169,583.49
2、 主营业务（分行业）
本期发生额 上期发生额
项 目
营业收入 营业成本 营业收入 营业成本
工 业 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
合 计 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
3、 主营业务（分产品）
本期发生额 上期发生额
项 目
营业收入 营业成本 营业收入 营业成本
缝制设备 1,885,829.82 2,492,536.54 2,729,478.26 4,476,232.34
办公机械 12,152,528.43 11,131,763.57
影像器材 59,192,967.22 52,816,662.40
合 计 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
4、 主营业务（分地区）
本期发生额 上期发生额
地 区
营业收入 营业成本 营业收入 营业成本
境 内 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
合 计 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
5、 公司前五名客户的营业收入情况
排名 营业收入总额 占公司全部营业收入的比例(%)
第一名客户 23,164,282.00 26.83
第二名客户 15,683,524.27 18.17
第三名客户 2,729,490.13 3.16
第四名客户 2,351,459.44 2.72
第五名客户 1,679,918.18 1.95
(五) 投资收益
1、 投资收益明细
项 目 本期发生额 上期发生额
成本法核算的长期股权投资收益 22,399,533.06 23,598.25
权益法核算的长期股权投资收益
处置长期股权投资产生的投资收益 -3,316,500.93
处置交易性金融资产取得的投资收益
可供出售金融资产等取得的投资收益上工申贝（集团）股份有限公司 2010 年半年度报告
91
其 他
合 计 19,083,032.13 23,598.25
本公司投资收益汇回无重大限制。
2、 按成本法核算的主要长期股权投资收益
被投资单位 本期发生额 上期发生额
本期比上期增减
变动的原因
上海富士施乐有限公司 6,465,162.65
上海蝴蝶进出口有限公司 15,286,119.43
上海广濑精密工业有限公司 750,000.00 750,000.00
上海双重包缝机有限公司 -375,121.02 -726,401.75
其中上海双重包缝机有限公司投资收益为本期计提的本公司应承担的该子公司超额亏损。
(六) 现金流量表补充资料
项 目 本期金额 上期金额
1、将净利润调节为经营活动现金流量
净利润 7,331,627.02 -30,681,028.05
加：资产减值准备 -3,796,838.74 544,111.21
固定资产折旧、油气资产折耗、生产性生物资产折旧 7,142,634.73 4,305,645.01
无形资产摊销 1,558,763.73 1,779,704.28
长期待摊费用摊销 ---
处置固定资产、无形资产和其他长期资产的损失（收益以
“－”号填列）
-5,374,639.85 -448,325.90
固定资产报废损失（收益以“－”号填列） 324,050.00
公允价值变动损失（收益以“－”号填列） 102,744.80 -132,728.71
财务费用（收益以“－”号填列） 4,617,493.14 11,351,241.23
投资损失（收益以“－”号填列） -19,083,032.13 -23,598.25
递延所得税资产减少（增加以“－”号填列）
递延所得税负债增加（减少以“－”号填列）
存货的减少（增加以“－”号填列） 7,921,219.38 2,017,984.81
经营性应收项目的减少（增加以“－”号填列） -2,439,602.49 -2,930,046.03
经营性应付项目的增加（减少以“－”号填列） -30,945,396.75 9,846,112.49
其 他
经营活动产生的现金流量净额 -32,965,027.16 -4,046,877.91
2、不涉及现金收支的重大投资和筹资活动
债务转为资本
一年内到期的可转换公司债券
融资租入固定资产
3、现金及现金等价物净变动情况
现金的期末余额 133,031,574.57 47,455,492.89
减：现金的年初余额 273,006,414.17 55,099,297.35上工申贝（集团）股份有限公司 2010 年半年度报告
92
项 目 本期金额 上期金额
加：现金等价物的期末余额
减：现金等价物的年初余额
现金及现金等价物净增加额 -139,974,839.60 -7,643,804.46上工申贝（集团）股份有限公司 2010 年半年度报告
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十二、 补充资料
(一) 当期非经常性损益明细表
项 目 金额 说明
非流动资产处置损益 8,024,000.78
越权审批或无正式批准文件的税收返还、减免
计入当期损益的政府补助（与企业业务密切相关，按照国家统一标准定
额或定量享受的政府补助除外）
967,681.00
计入当期损益的对非金融企业收取的资金占用费
企业取得子公司、联营企业及合营企业的投资成本小于取得投资时应享
有被投资单位可辨认净资产公允价值产生的收益
非货币性资产交换损益
委托他人投资或管理资产的损益
因不可抗力因素，如遭受自然灾害而计提的各项资产减值准备
债务重组损益
企业重组费用，如安置职工的支出、整合费用等
交易价格显失公允的交易产生的超过公允价值部分的损益
同一控制下企业合并产生的子公司期初至合并日的当期净损益
与公司正常经营业务无关的或有事项产生的损益
除同公司正常经营业务相关的有效套期保值业务外，持有交易性金融资
产、交易性金融负债产生的公允价值变动损益，以及处置交易性金融资
产、交易性金融负债和可供出售金融资产取得的投资收益
369,053.79
单独进行减值测试的应收款项减值准备转回
对外委托贷款取得的损益
采用公允价值模式进行后续计量的投资性房地产公允价值变动产生的
损益
根据税收、会计等法律、法规的要求对当期损益进行一次性调整对当期
损益的影响
受托经营取得的托管费收入
除上述各项之外的其他营业外收入和支出 5,378,749.91
其他符合非经常性损益定义的损益项目
所得税影响额 -24,152.37
少数股东权益影响额（税后） -998,668.59
合 计 13,716,664.52上工申贝（集团）股份有限公司 2010 年半年度报告
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(二) 净资产收益率及每股收益：
每股收益（元）
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
利润
0.6608 0.0082 0.0082
扣除非经常性损益后归属于
公司普通股股东的净利润
-1.8138 -0.0224 -0.0224
(三) 公司主要会计报表项目的异常情况及原因的说明
报表项目
期末余额（或本
期金额）
年初余额（或上
年金额）
变动比率
（%）
变动原因
货币资金 292,288,164.86 500,436,327.04 -41.59
主要系本期欧洲子公司归还股
东贷款及公司支付辞退福利所
致
预收账款 81,393,759.50 40,261,334.94 102.16
主要系本期增加未完工产品的
预收款所致
应付职工薪酬 82,781,355.11 156,133,546.73 -46.98 主要系本期支付辞退福利所致
其他应付款 129,990,327.21 277,037,653.23 -53.08
主要系本期欧洲子公司归还股
东贷款所致
外币报表折算
差额
-47,923,737.43 -16,065,589.05 -198.30 系欧元汇率变动影响所致
财务费用 15,736,223.33 29,644,028.27 -46.92 主要系同比减少利息支出所致
资产减值损失 -12,146,901.05 -805,211.24 -1,408.54
主要系本期存货价值回升调整
存货跌价准备计提数及因收回
超信用额度的应收账款而调整
坏账准备的计提数所致。
营业外收入 16,921,154.13 1,345,555.28 1,157.56
主要系同比增加固定资产处置
收益所致
十三、 财务报表的批准报出
本财务报表业经公司第六届董事会第九次会议于2010 年8 月26 日批准报出。
八、备查文件目录
1、载有董事长亲笔签名的半年度报告正本及摘要；
2、载有法定代表人、主管会计工作的负责人、会计机构负责人签名并盖章的会计报表；
3、报告期内在中国证监会指定报纸上公开披露过的所有公司文件的正本及公告的原稿；
4、公司章程文本；
5、其他有关资料。
上工申贝（集团）股份有限公司
董事长：张敏
2010 年8 月26 日SGSB GROUP CO.,LTD Interim report 2010
0
SGSB GROUP CO., LTD.
600843
900924
2010 INTERIM REPORT
August 26th, 2010SGSB GROUP CO.,LTD 2010 Interim Report
1
CONTENTS
I. Important Note
II. Company Profile
III. Variation of Share Capital and Information about Shareholders
IV. Directors, Supervisors and Senior Managers
V. Report by the Board of Directors
VI. Significant Events
VII. Financial Report
VIII. For ReferenceSGSB GROUP CO.,LTD 2010 Interim Report
2
I. Important Note
1. The Board of Directors，the Board of Supervisors, and all the directors, supervisors, senior managers,
guarantee that there are no false statements, vital misunderstanding or important omissions in this report,
and hold both individual and joint liability for the authenticity, accuracy and integrity of its contents.
2. All the Directors have attended the meetings of Board of Directors.
3. The Interim Report hasn’t been audited.
4. There have been no non-operating capitals of the Company one-off occupied by the holding
shareholder or its related parties.
5. There have been no external guarantees of the Company violating regulations about decision
procedures.
6. As particular emphasis, Mr. Zhang Min, Chairman of BOD & CEO, Mr. Ma Mingliang, General
Manager, and Ms. Gao Lili, Accounting Manager, make the pledge for the authenticity and integrity of
the attached financial statements in the Interim Report.SGSB GROUP CO.,LTD 2010 Interim Report
3
II. Company Profile
1. Profile of the Company
(1) Company information
Legal name of the Company in Chinese 上工申贝（集团）股份有限公司
Abbreviation 上工申贝
Legal name of the Company in English SGSB GROUP CO.,LTD.
Abbreviation SGSB
Legal representative Zhang Min
(2) Contact person and information
Secretary to Board of Directors Securities affairs representative
Name Zhang Yifeng Zhou Yongqiang
Contact address
12th Floor, Orient Mansion, No.1500
Century Avenue, Pudong New Area,
Shanghai
12th Floor, Orient Mansion, No.1500
Century Avenue, Pudong New Area,
Shanghai
Tel 021-68407515 021-68407700-728
Fax 021-63302939 021-63302939
E-Mail zyf@sgsbgroup.com zyq@sgsbgroup.com
(3) Basic information
Register address 1201 Luoshan Road, Pu Dong New Area,
Shanghai
Post Code 200135
Office address 12th Floor, Orient Mansion, No.1500 Century
Avenue, Pudong New Area, Shanghai
Post Code 200122
Web Site http://www.sgsbgroup.com
E-Mail sgsb@sgsbgroup.com
(4) New release and place for preparation
Press for news release Shanghai Securities News and Hong Kong
Commercial Daily
Web address stipulated by China Securities
Regulatory Commission to carry the Interim
Report
http://www.sse.com.cn
Place for preparing the Interim Report Office of the Company
(5) Stock information
Stock information
Stock kind Registered stock
exchange
Stock Abbreviation Stock Code Abbreviations used
before
A shares Shanghai Stock
Exchange SGSB A Shares 600843 Shanggong , Gongfeng
B shares Shanghai Stock
Exchange
Shanggong B
Shares
900924 Gongfeng B shares
(6) Other relevant informationSGSB GROUP CO.,LTD 2010 Interim Report
4
Date for original register December 16, 1993
Register institution Shanghai Municipal Industrial and Commercial
Admin.
Date for register change December 31, 2008
Institution for register change Shanghai Municipal Industrial and Commercial
Admin.
Business license register
No.
310000400080303（Municipal Admin.）
Tax register No. GDSHZ 310 115 132 210 544
Latest change
Organization code 13221054-4
Public accountants contracted by the Company Shulun Pan Certified Public Accountants Co., Ltd.
Address of public accountants 4F, 61 East Nan Jing Road, Shanghai
Advisor for legal affairs Shanghai Zhendan Law Office
Address of advisor for legal affairs 16F, 1688 Sichuan Road (N), Shanghai
(7) Financial Highlights
(1) Important accounting and financial figures:
RMB’
Item At end of report period End of last year Increase/
decrease %
Total assets 1,647,797,852.04 1,978,380,848.91 -16.71
Owners’ equity (or shareholders’ equity) 520,296,846.60 552,473,990.55 -5.82
Net assets value per share attributive to
shareholder of listing company (Yuan/share)
1.1591 1.2308 -5.82
Jan. ~ June, 2010 Same period of the
previous year
Increase/
decrease %
Operating profit -5,962,694.91 -139,672,708.17 not applicable
Total profit 8,407,736.78 -140,547,808.17 not applicable
Net profit attributive to shareholder of listing
company
3,662,614.03 -131,415,724.73
not applicable
Net profit attributive to shareholder of listing
company after non-current account profit/(loss)
-10,054,050.49 -131,145,074.21
not applicable
Basic earning per share 0.0082 -0.2928 not applicable
Basic earning per share after non-current account
profit/(loss)
-0.0224 -0.2922
not applicable
Earning per share (diluted) 0.0082 -0.2928 not applicable
Weighted average return on net assets (%) 0.6608 -29.6625 30.32 increase
Net cash flows generated from operating
activities
-79,958,287.28 -87,145,555.56
not applicable
Net cash flows per share generated from
operating activities
-0.1781 -0.1941
not applicable
(2) After non-recurrent account profit/loss:
RMB’
Item Ending balance
Disposal of non-current assets profit/(loss), including the write-off of provision for assets impairment
accrued
8,024,000.78
Government grants in current profit/(loss), with exception of government subsidies closely related to the
normal operations of the enterprise and continuously received at certain quotation or quantity according to
the policies and regulations of the state
967,681.00
Profit/(loss) on the change of fair value of tradable financial assets/liabilities, and investment income from
disposal of tradable financial assets/liabilities, financial assets available for sale, with exception of effective
hedging activities related to the normal operations of the enterprise
369,053.79
Other net non-operating income and expenditure 5,378,749.91SGSB GROUP CO.,LTD 2010 Interim Report
5
Influence of minority interests -24,152.37
Influence of income tax -998,668.59
Total 13,716,664.52SGSB GROUP CO.,LTD 2010 Interim Report
6
III. Variation of Share Capital and Information about Shareholders
1. Variation of stock capital
During report period, there were no changes in the total equities and capital structure of the Company.
2. Information about shareholders
(1) Number of shareholders and distribution of stock capital
Number of shareholders 45,181, including 14,836 A stockholders and 30,345 B stockholders
Top ten shareholders
Shareholder Classifica-tion Prop.(%) Quantity of
shares as of
June 30, 2008
Increase/
decrease
Quantity of
shares subject
to conditional
sales
Quantity in
pawn or
frozen
Shanghai Pudong New Area
Assets Management Commission
State-owned
capital
24.44 109,719,658 0 0 0
Shanghai International Trust Co. State-owned
legal person
1.34 6,020,921 -8,926,450
0 Unknown
China Great Wall Asset
Management Co.
State-owned
1.23 5,530,514 0
0 Unknown
First Shanghai Securities Ltd. Foreign
capital
0.91 4,105,386 -200,000
0 Unknown
SHK NOM.LTD-CLTS OF SHK
INV.SER.
Foreign
capital
0.66 2,940,829 1,059,600
0 Unknown
Shenyin Wanguo Nominees
(H.K.) Ltd.
Foreign
capital
0.50 2,239,192 -22,100
0 Unknown
Scbhk A/C KG Investment Asia
Ltd.
Foreign
capital
0.48 2,142,615 -377,060
0 Unknown
UBS CUSTODY SERVICES
SINGAPORE PTE.LTD.
Foreign
capital
0.46 2,066,933 2,066,933
0 Unknown
Guotai Junan Securities Co., Ltd. State-owned
legal person
0.36 1,623,418 -293,699
0 Unknown
Shanghai Sanmao Enterprise
(Group) Co.,Ltd
State-owned
capital
0.31 1,400,000 0
0 Unknown
Top ten tradable stock shareholders
Shareholder Tradable shares Classification
Shanghai Pudong New Area Assets Management
Commission 109,719,658 A shares
Shanghai International Trust Co. 6,020,921 A shares
China Great Wall Asset Management Co. 5,530,514 A shares
First Shanghai Securities Ltd. 4,105,386 B shares
SHK NOM.LTD-CLTS OF SHK INV.SER. 2,940,829 B shares
Shenyin Wanguo Nominees (H.K.) Ltd. 2,239,192 B shares
Scbhk A/C KG Investment Asia Ltd. 2,142,615 B shares
UBS CUSTODY SERVICES SINGAPORE PTE.LTD. 2,066,933 B shares
Guotai Junan Securities Co., Ltd. 1,623,418 B shares
Shanghai Sanmao Enterprise (Group) Co.,Ltd 1,400,000 A shares
Explanation for affiliated transaction relationship or It remains unknown to the Company if any affiliated transactionSGSB GROUP CO.,LTD 2010 Interim Report
7
concerted-action relationship between the main
shareholders
relationship or concerted-party relationship exists between SGSB’s top
ten tradable stock shareholders and top ten shareholders.
(2) Variation of the holding shareholder and effective controller:
During report period, the holding shareholder and effective controller of the Company hasn’t changed.SGSB GROUP CO.,LTD 2010 Interim Report
8
IV. Directors, Supervisors and Senior Managers
1. Changes of holding shares by Directors, Supervisors and senior managers
During report period, there were no changes of the holding shares by Directors, Supervisors or senior
managers of the Company.
2. Appointment and dismissal of Directors, Supervisors and senior managers
(1) Appointment information
1) On April 27, 2010, the Company convened the First Workers’ Congress 5th meeting in which Mr.
Wang Jie was elected as Staff Supervisor in the 6th Supervisory Board.
2) On May 28, 2010, the Company convened the 2009 General Meeting of Shareholders, in which Mr.
Sun Gang was approved as Director of Board of the Company, Mr. Sun Damin as Supervisor of
Company.
(2) Outgoing information
On March 24, 2010, Mr. Shen Yibo took no longer the duty as Director due to work change.SGSB GROUP CO.,LTD 2010 Interim Report
9
V. Report by the Board of Directors
1. Overall business prospects and analysis
Facing the great impact of financial crisis, the Company is united from the top to the bottom and makes
efforts to implement measures to respond to the crisis. In the first half of this year the overseas sewing
machinery enterprises of the Company has turned loss into gain after completion of debt restructuring
and readjustment in the end of last year. The domestic sewing enterprises of the Company also lowered
loss substantially after restructure and merge. In the first half year of 2010, the economic operation of
the Company improved obviously compared with the same period of last year.
During report period, the Company realized an operating income of RMB 855,001,900, an operating
profit of RMB -5,962,700, and a net profit of RMB 3,662,600, among which DA contributed an
operating income of RMB 410,307,900, an operating profit of RMB 8,874,800 and a net profit of RMB
7,973,200.
In the first six months of 2010, the Company produced and sold respectively 9,108 units and 30,686
units of industrial sewing machines, respectively 16.66% of decrease and 112.27% of increase compared
with those of the same period of last year, among which DA contributed a production of 6,919 units and
sales of 5,566 units, respectively 156.26% and 75.09% of increase compared with those of the same
period of last year. Through OEM, the Company exported 253,352 units of Butterfly household sewing
machines, an increase of 5.67%, and realized the export value of USD 45,490,000 (DA’s contribution
excluded), an increase of 14.44% to the same period of last year.
(1) Highlights and analysis of the significant changes in the end-of-period balance sheet
RMB’
Item 30 June 2009 31 Dec 2008 Increase/
decrease
Increase/
decrease %
Reason
Monetary capital 292,288,164.86 500,436,327.04 -208,148,162.18 -41.59 Note 1
Bills receivable 2,840,040.00 7,752,100.00 -4,912,060.00 -63.36 Note 2
Other current assets 2,123,371.73 1,327,268.22 796,103.51 59.98 Note 3
Bills payable 0.00 2,808,428.76 -2,808,428.76 -100.00 Note 4
advance payment 81,393,759.50 40,261,334.94 41,132,424.56 102.16 Note 5
Employee compensation payable 82,781,355.11 156,133,546.73 -73,352,191.62 -46.98 Note 6
Tax payable 3,521,135.71 6,983,942.02 -3,462,806.31 -49.58 Note 7
Other account payable 129,990,327.21 277,037,653.23 -147,047,326.02 -53.08 Note 8
Other current liabilities 280,230.99 700,031.40 -419,800.41 -59.97 Note 9
Foreign currency translation
difference
-47,923,737.43 -16,065,589.05 -31,858,148.38 -198.30
Note 10
Note 1: due to the repayment of shareholder loan by European subsidiary and company’s payment to termination benefits;
Note 2: due to the increase of bank acceptance received in current period;
Note 3: due to the increase of rent and assurance charges to be amortized in the future;
Note 4: due to bank acceptance bills due and payable;
Note 5: mainly due to increase of advance payment for unfinished products in current period;SGSB GROUP CO.,LTD 2010 Interim Report
1 0
Note 6: mainly due to the current-period payment of termination benefits;
Note 7: mainly due to payment of tax in current period;
Note 8:. Mainly due to the repayment of shareholder loan by European subsidiary in current period;
Note 9: mainly due to the current-period payment of the originally resale interest and rent;
Note 10: due to change of Euro exchange rate in current period
(2) Highlights and analysis of the significant changes in the end-of-period profit/loss sheet
RMB’
Item Current period Same period of
previous year
Increase/
decrease
Increase/
decrease %
Reason
Financial expense 15,736,223.33 29,644,028.27 -13,907,804.94 -46.92 Note 1
Assets impairment loss -12,146,901.05 -805,211.24 -11,341,689.81 -1,408.54 Note 2
Net income from changes in fair
value
-82,143.59 872,969.06 -955,112.65 -109.41
Note 3
Investment income 7,809,420.47 15,351,195.68 -7,541,775.21 -49.13 Note 4
Operating profit -5,962,694.91 -139,672,708.17 133,710,013.26 95.73 Note 5
Non-operating income 16,921,154.13 1,345,555.28 15,575,598.85 1,157.56 Note 6
Income tax 2,537,329.49 1,071,898.23 1,465,431.26 136.71 Note 7
Minority interest 2,207,793.26 -10,203,981.67 12,411,774.93 121.64 Note 8
Other composite income -39,716,014.75 8,646,418.29 -48,362,433.04 -559.33 Note 9
Note 1: mainly due to decrease of interest expenditure.
Note 2: mainly due to the significant reversal of bad debts provision in the same period of last year;
Note 3: mainly due to the decrease of income from changes in fair value of tradable financial assets;
Note 4: mainly due to the decrease of investment income regulated by the Cost Law;
Note 5: mainly due to the big increase of principal business gross profit and decrease of period expense;
Note 6: mainly due to the increase of profit from disposal of fixed assets;
Note 7: mainly due to the profit-making of this period;
Note 8: mainly due to the significant increase of loss in non wholly-owned subsidiaries.
Note 8: mainly due to the foreign currency finanical report conversion difference.
(3) Highlights and analysis of the significant changes in the end-of-period cash flow sheet
Item Current period Previous period Increase/
decrease
Increase/
decrease%
Reason
Net cash flow generating from
investing activities
41,453,613.37 20,558,532.05 20,895,081.32 101.64
Note1
Net cash flow generating from
financing activities
-139,750,409.39 -7,117,350.80 -132,633,058.59 -1,863.52
Note 2
Influence of foreign exchange rate
changes on cash
-26,757,773.91 -551,919.60 -26,205,854.31 -4,748.13
Note 3
Note 1: mainly due to the increase of cash received from disposal of fixed assets, and the decrease of cash received from sale of shares;
Note 2: mainly due to the repayment of shareholder loan and decrease of repayment for short-term bank borrowings and interests;
Note 3: mainly due to the effect of exchange rate of Euros.
2. Business performance review of principal operating activities during report period
(1) Principal operating activities by products and sectors:
RMB’
By sector or product Principal Principal Margin rate Increase/de Increase/de Increase/deSGSB GROUP CO.,LTD 2010 Interim Report
1 1
operating income operating expense (%) crease of
income (%)
crease of
expense (%)
crease of
margin (%)
Sewing machines and
material transmission
equipments
639,723,859.42 492,267,322.57 23.05 14.60 -0.59
11.76. more
International trade 122,012,491.11 119,877,687.16 1.75 9.73 10.40 0.59 less
Production of films and
video materials
59,192,967.22 52,816,662.40 10.77 20.50 19.09
1.06 more
Office equipment 12,153,562.62 11,132,938.33 8.40 -12.27 -15.00 2.94 more
Others 2,627,066.68 1,135,217.07 56.79 -0.89 13.17 5.37 less
Total 835,709,947.05 677,229,827.53 18.96 13.70 2.26 9.06 more
Among which, no affiliated transactions are found in sale of goods or provision of services from the Company to its holding
shareholder and subsidiaries.
(2) Division of principal operating activities by regions:
RMB’
Region Principal operating income Increase/decrease (%)
Home 425,402,039.77 11.46
Abroad 410,307,907.28 16.11
(3) Business performance of undertakings in which the investment earning contributes 10% or more to
the net profit of the Company:
RMB’
Company Business scope Net profit Contribution to
the Company
Proportion in the
total net profit (%)
Shanghai Fuji-Xerox Co., Ltd. Production and sales of copy
machines
34,115,110.58 6,465,162.65 176.52
(4) Analysis about the reasons of significant changes in the profits’ composition
The reasons of significant changes in the profits’ composition is mainly due to market recovery in the
current period and due to substantial increase of the principal operating income and principal operating
gross profit rate of the Company after the adjustment by the domestic and overseas subsidiaries of the
Company, , and the decrease of expenditures make the Company turn loss into profit.
(5) Difficulties in the operations and resolution proposals elaborated by the Company
Under such tight situation and heavy pressure, the Company will push the reform and reorganization,
fulfill the transfer of productive capacity between different locations and realize the transformation of
business model:
1) strengthen management on overseas subsidiaries and improve the operational performance of DA;
2) speed up transfer of the production of DA’s products which are suitable for Asian market to
domestic facilities;
3) actively and steadily push forward the strategic cooperation on sewing machine business, adjust the
product processing area and processing methods;
4) continue to increase income and reduce expenditure, implement cost control measures to achieve
the goal of reducing cost and increasing profits
3. Investing activities of the CompanySGSB GROUP CO.,LTD 2010 Interim Report
1 2
(1) Utilization of raised funds:
During report period, the Company hasn’t developed any project using raised funds, nor used any funds
raised in anterior periods in current period.
(2) Utilization of non-raised funds:
During report period, the Company hasn’t developed any project using non-raised funds.
4. Analysis of financial position and business result
(1) Realization of earning forecast
RMB’
Earning forecast (current period) Real achievement
Principal operating income 0 835,709,947.05
Total profits 0 8,407,736.78
Net profits 0 3,662,614.03
(2) Realization of business plan
Business plan Real achievement
Income 0 835,709,947.05
Cost and expenses 0 879,108,647.59
5. Warning and explanation about the loss forecast from year-beginning to the end of next
accounting period or significant changes of net profit from the same period of last year
Because of the integration of sewing equipment subsidiaries of the Company in the beginning of this
year, their ability of adapting to the market improved. With the gradual recovery of sewing machinery
industry, the Company forecasts that the accumulated net profit will be positive till the end of next
accounting period.SGSB GROUP CO.,LTD 2010 Interim Report
1 3
VI. Significant Events
1. Corporate Governance of the Company
According to the , the , and the
issued by China Securities Regulatory Commission, the Company pays high attention to perfect
continuously the corporate governance structure and regularize the corporate operation.
During report period, the Company changed one Board Director and added two Supervisor Director.
According to the Guideline for Election of Board Directors of Listing Company regulated by Shanghai
Stock Exchange, the Board Directors accepted the appraisal for fulfillment of duty by Board of
Supervisors. The Annual General Meeting of Shareholders, The mechanism of coordination and
interact-balance works well among the General Meeting of Shareholders, the Board of Directors, the
Board of Supervisors and the senior management team. The organizational setup and functional
division meets the requirements fixed for internal control.
During report period, the Company pays priority to the internal systems construction and tries to perfect
the systems in the process of implementation. In the first half year, the Company newly established or
amended 14 systems systems.Besides, the Company approved the regulation of accountability for
significant errors of information disclosure in annual report and Control System for External users of
Information. The corporate governance structure is gradually maturing.
2. Profit appropriation in report period
During report period, the Company hasn’t implemented any profit appropriation proposal.
3. Proposals on profit appropriation or capital reserve capitalization
During report period, the Company hasn’t launched any proposals on profit appropriation or capital
reserve capitalization.
4. Implementation of cash dividend policy in report period
(1) Cash dividend policy
The one hundred and fifity-fifthdd item in the Articles of Association of the Company regulates the cash
dividend policy of the Company. According to the related regulations of the country, the Company
implemented the principle of at the lower distribution concerning the domestic and overseas auditing
result. Payment of dividend to shareholders could be cash or stock. Payment of dividend to B
shareholders should be calculated in RMB and made by foreign currency.
The Company may pay interim cash dividend. In the last three years, the accumulated profit for
distribution paid in cash should not less than 30% of average annual distributable profits for the last
three years. If the Company was profitable in the last accounting year, it did not propose profitSGSB GROUP CO.,LTD 2010 Interim Report
1 4
appropriation plan, the Company should explain in detail in the annual report the reason for not
distributing profit and the utility of capital not attributable for dividend.
(2) Cash dividend implemented during report period
During the report period, concerning the parent company’s attributable profit registered negative, the
Company could not realize cash dividend.
5. Significant litigation and arbitration cases during report period
During report period, the Company wasn’t involved in any significant litigation or arbitration cases.
6. Bankrupt related issue
During report period, there is no bankrupt related issues occurred in the Company.
7. Equity investment in other listed companies or financial institutions
(1) Investment in securities
RMB’
Type Code Number Initial investment Quantity of shares Ending book
value
Prop. among
investment in
securities
Current
profit/loss
Funds HuaAn
A
160402 100,000.00 399,785.25 279,849.68 86.36 -102,744.80
Other investment in
securities
51,600.00 2,000.00
44,200.00 13.64 -7,400.00
Profit/loss current-period
sale of securities
/
/ / / 118,715.43
Total 151,600.00 / 324,049.68 100 8,570.63
(2) Stock equity of other listed companies held by the Company
RMB’
Code Entity Initial
investment
Prop. in the
invested
company
Ending
book value
Profit
/loss
Change in
shareholder
equity
Account title Origin of
equity
600637 SVA
Info. 67,600.00
<5%
169,585.65
-28,409.22 Financial
assets
available
for sale
Legal-per
son
shares
600689 Sanmao
Textile 1,779,800.0
0
<5%
5,758,174.20 360,483.16 -625,888.50
Financial
assets
available
for sale
Legal-per
son
shares
Total 1,847,400
.00
- 5,927,759.85
360,483.16
-654,297.72 - -
(3) Stock equity of non-listed financial institutions held by the Company
RMB’
Company nitial investment Quantity of
shares
Prop. in the
invested
company
Year-end book
value
Profit
/loss
Change in
shareholder
equity
Account title Origin of
equity
Bank of
Shanghai 551,400.00
191,70
0
<5% 551,400.0
0
Long-term equit
y investment
Buy-in
Baoding
Investment 7,500.00 5,751 <5% 7,500.00 Long-term equit
y investment
Buy-in
Shenyin
Wanguo 200,000.00 102,214 <5% 200,000.00 Long-term equit
y investment
Buy-in
Subtotal 758,900.00 299,665 - 758,900.00 - -SGSB GROUP CO.,LTD 2010 Interim Report
1 5
8. Significant acquisition/transfer of assets or merger affairs
(1) Information about acquisition of assets of the Company
During report period, there were no significant acquisitions/transfers of assets or merger affairs.
(2) Information about sale of assets of the Company
The Company held the 8th meeting of the Sixth Board of Directors on May 6, 2010, discussed and
approved the sale of Dürkopp F鰎dertechnik GmbH ( DFT) by Dürkopp Adler AG , the wholly owned
subsidiary of Shanggong (Europe) Holding GmbH. The Company held the 2009 General Meeting of
Shareholders on May 28 , 2010, discussed and approved the above-mentioned project and this issue was
publicly announced on Shanghai Securities News and Hongkong Commercial Daily on May 8, 2010 and
May 29, 2010. The procedure of share transfer was completed on July 1st, 2010.
(3) Information about merger of the Company
The Company uses Shanghai Shanggong Sewing Machine Co.,Ltd, the wholly-owned subsidiary, as the
platform, merged the wholly-owned subsidiary “Shanghai Shanggong Exp.&Imp. Co.,Ltd” and the
holding subsidiary “Shanghai Butterfly Exp.&Imp. Co.,Ltd”. after the merger completes, Shanghai
Shanggong Sewing Machine Co.,Ltd shall change name as Shanghai Shanggong Butterfly Sewing
Machine Co.,Ltd. The Company held the 8th meeting of the Sixth Board of Directors on May 6, 2010,
and 2009 General Meeting of Shareholders, discussed and approved this issue and the related content
was publicly announced on Shanghai Securities News and Hongkong Commercial Daily on May 8,
2010 and May 29, 2010. On June 28, 2010, Shanghai Shanggong Butterfly Sewing Machine Co.,Ltd
completed the business registration.
9. Significant affiliated transactions during report period
During report period, there were no significant affiliated transactions.
10. Significant contracts and the fulfillment
(1) Trusteeship, contract and leasing affairs
1) During report period, there were no significant trusteeship cases in which the Company was
concerned.
2) During report period, the Company didn’t commit any significant contracts.
3) During report period, the Company didn’t commit any significant leasing cases.
(2) Guaranty affairs
RMB’000
External guaranties (for holding subsidiary undertakings excluded)
Company under guaranty Date incurred
dd/mm/yy
Amount
under
guaranty
Category Duration
dd/mm/yy
Completed
(Y/N)
Affiliated
party (Y/N)
Shanghai Worldbest Enterprise
Development Co., Ltd.
11/11/2004 30,000 Joint-liability
guaranty
11/11/2004-
09/11/2005
N N
Shanghai Worldbest Enterprise
Development Co., Ltd.
29/03/2005 8,490 Joint-liability
guaranty
29/03/2005-
29/09/2005
N N
Shanghai Worldbest Enterprise
Development Co., Ltd.
27/05/2005 10,000 Joint-liability
guaranty
27/05/2005-
23/05/2006
N NSGSB GROUP CO.,LTD 2010 Interim Report
1 6
Shanghai Worldbest Enterprise
Development Co., Ltd.
13/06/2005 10,000 Joint-liability
guaranty
13/06/2005-
29/09/2005
N N
Shanghai Worldbest Enterprise
Development Co., Ltd.
06/06/2005 30,000 Joint-liability
guaranty
06/06/2005-
01/06/2006
N N
Shanghai Worldbest Enterprise
Development Co., Ltd.
14/07/2005 30,000 Joint-liability
guaranty
14/07/2005-
04/07/2006
N N
Shanghai Pudong Development
(Group) Co., Ltd.
09/06/2008 135,600 Joint-liability
guaranty
09/06/2008-
08/06/2012
N N
Total occurred in current period 0
Total ending balance (A) 254,090
Guaranties for holding subsidiary undertakings
Total occurred in current period
Total ending balance (B) 3,599
Guaranties including those for holding subsidiary undertakings
Total balance (A+B) 29,008
Proportion of total guarantee balance in the Company’s net assets (%) 52.2
Including:
Guaranties for the shareholders, real controller and its affiliated parties (C) 0
Guarantees directly or indirectly for companies whose assets-liability ratio over 70% (D) 15,448
Total balance surplus 50% net assets of the Company (E) 0
Total balance of out-of-line guaranties (C+D+E) 15,448
1) The Company contracted mutual credit guarantee relationship with Shanghai Worldbest Industry
Development Co., Ltd. (Worldbest Development) in the year 2001. After that, Worldbest
Development couldn’t recover the borrowings as scheduled and the banks accused it in different
courts. Till the occurrence of these lawsuits, the Company acted as guarantor for six overdue
borrowings of Worldbest Development with a total amount of RMB 118,490,000 and was also
involved in the dispute. In the year 2008, Worldbest Development offered some equities as counterguarantee
pledge and the Company agreed to offer some part of its own assets to the banks as
guarantee of the borrowings raised by Worldbest Development. The pledge formalities were
completed and the reconciliation memorandum was signed between the Company and the banks.
(For details, please refer to the resolutions L2008-002, 010 and 016.)
According to related articles in the equity acquisition agreement signed with FAG Kugelfischer AG
(FAG), the Company should take certain joint-liability responsibility for the following affairs:
In 2005, the Company offered a letter of guarantee valued USD 5,300,000 to FAG Kugelfischer AG
for the housing lease contract of DA’s subsidiary in the United States, valid from June 30, 2005 to
October 31, 2015. On the same day June 30, 2005, SG Europe offered a cash mortgage of ? 635,000
to FAG (with the same period of validity) for re-guaranteeing the latter’s responsibility in the sale
and lease-back deal between DA’s subsidiary and UTF Norcross L.L.C.
Till June 30, 2010, this guarantee deal didn’t cause outflow of economic interest from the Company.
(3) Trust investment affairs
During report period, the Company didn’t entrust any entities to handle investment affairs.
(4) Other significant contracts
During report period, the Company didn’t settle any significant contracts.
11. Fulfillment of publicly announced commitments
During report period or within the report period, there is no commitments by the Company and
shareholder who hold more than 5% of SGSB’s stock equity.SGSB GROUP CO.,LTD 2010 Interim Report
1 7
12. Employment and dismissal of public accountants
During report period, under approval of the General Meeting of Shareholders, the Company renewed its
contract with Shulun Pan Certified Public Accountants Co., Ltd. for the audit services in the year of
2009.
13. Punishment and reform measures upon the Company, its Directors, Supervisors, senior
managers, shareholders or effective controller
During report period, neither the Company, nor its Directors, Supervisors, Senior Managers,
shareholders or effective controller, has received any check, administration punishment or notice of
criticism from China Securities Regulatory Commission, or publicly condemned by Shanghai Stock
Exchange.
14. Other significant events
Facing the great impact of global financial crisis to China’s sewing equipment industry, the Company
and Zoje Sewing Machine Co.Ltd plan to cooperate closely by holding each other’s shares in related
sbusidiaries, play their respective advantages and absorb together the advanced technology of DA and
expand the manufacture of high-end sewing equipments in China, realize win-win strategy, and make
contribution to Chinese sewing industry, and seek greater benefits for both parties. Approved by both
BODs of the parties, a Strategic and Cooperative Framework Agreement on Sewing Machine Business
was signed on March 25, 2010, and both parties signed the Supplemental Agreement on the basis of
Framework Agreement on July 16 ,2010.
15. Index of information disclosure
Announcement Newspaper and Page No. dd-mm-yyyy Internet track
L2010-001 2009 Performance profit-making
forecast
Shanghai Securities News 35
HK Commercial Daily A5
30-01-2010
L2010-002 Announcement of resolutions by the
6th meeting of theSixth Board of Directors
Shanghai Securities News B103
HK Commercial Daily A19
26-03-2010
L2010-003 Announcement of resolutions by the
4th meeting of theSixth Board of Supervisor s
Shanghai Securities News B103
HK Commercial Daily A19
26-03-2010
L2010-004 Announcement of signing
Framework Agreement on Sewing Machine
Business
Shanghai Securities News B103
HK Commercial Daily A19
26-03-2010
2009 Annual Report abstract Shanghai Securities News B103
HK Commercial Daily A19
26-03-2010
L2010-005 Announcement of resolutions by the
5th meeting of the Sixth Board of Supervisors
Shanghai Securities News B68
HK Commercial Daily A28
29-04-2010
2010 First Quarter Report Shanghai Securities News B68
HK Commercial Daily A28
29-04-2010
L2010-006 Announcement of resolutions by the Shanghai Securities News27 08-05-2010
http://www.sse.com.cn
Official website of
Shanghai Stock
ExchangeSGSB GROUP CO.,LTD 2010 Interim Report
1 8
8th meeting of theSixth Board of Directors HK Commercial Daily A7
L2010-007 Announcement of sale of DFT by
DA AG, the wholly-owned subsidiary of
Shanggong (Europe)
Shanghai Securities News 27
HK Commercial Daily A7
08-05-2010
L2010-008 Notice for holding 2009 Annual
General Meeting of Shareholders
Shanghai Securities News 27
HK Commercial Daily A7
08-05-2010
L2010-009 Announcement of resolutions by
2009 Annual General Meeting of Shareholders
Shanghai Securities News 26
HK Commercial Daily BA21
29-05-2010
L2010-010 2010 half year Performance profitmaking
forecast
Shanghai Securities NewsB29
HK Commercial Daily A17
13-07-2010
L2010-011 Announcement of development of
strategic cooperation on sewing business
Shanghai Securities News 23
HK Commercial Daily A7
17-07-2010SGSB GROUP CO.,LTD 2010 Interim Report
1 9
VII. Financial Report (un-audited)
1. Financial report
Balance Sheet
June 30, 2010:
RMB'
Item Note Ending balance Beginning balance
Current assets：
Cash and cash equivalents 292,288,164.86 500,436,327.04
Provision for settlement
Fund for lending
Tradable financial assets 324,049.68 452,884.48
Bills receivable 2,840,040.00 7,752,100.00
Accounts receivable 220,250,633.13 206,166,693.08
Prepayments 28,347,714.94 35,189,414.48
Insurance receivable
Accounts receivable
reinsurance
Contract provison for
accounts receivable reinsurance
Interest receivable
Dividend receivable 6,465,162.65
Other receivables 111,190,272.24 134,821,096.08
Financial assets
purchased under resale
Inventories 329,794,146.07 350,015,644.18
Non-current assets to
be expired in one year
Other current assets 2,123,371.73 1,327,268.22
Total current assets 993,623,555.30 1,236,161,427.56
Non-current assets：
Payment of entrustment loans
and advances
Available for sale
financial assets 5,927,759.85 7,105,317.57
Held-to-maturity
investment
Long-term receivables
Long-term investment on
stocks 45,224,962.77 46,142,074.33
Investment properties 129,169,321.92 136,793,872.93
Fixed assets 322,955,866.94 382,239,736.89
Construction in progress 1,719,001.30 1,890,175.97
Construction materials
Disposal of fixed assets
Consumable biological
asset
Oil&gas asset
Intangible assets 43,298,513.38 46,216,547.46
R&D expense 47,177,217.11 54,761,596.82
Goodwill 24,098,385.60 28,544,830.56
Long-term unamortizedSGSB GROUP CO.,LTD 2010 Interim Report
2 0
expense
Deferred tax, asset 34,603,267.87 38,525,268.82
Other non-current assets
Total non-current assets 654,174,296.74 742,219,421.35
Total assets 1,647,797,852.04 1,978,380,848.91
Current liabilities：
Short-term loans 271,288,032.57 286,948,148.62
Loans from central bank
Deposits and placements
Borrowing fund
Tradable financial
liabilities
Bills payable 2,808,428.76
Accounts payable 112,124,176.68 137,481,885.22
Advances on sale 81,393,759.50 40,261,334.94
financial assets sold for
repurchase
Fee and commission
payable
Wages and salaries unpaid 82,781,355.11 156,133,546.73
Tax unpaid 3,521,135.71 6,983,942.02
Interest unpaid
Dividend unpaid 1,631,937.63 1,631,937.63
Other payables 129,990,327.21 277,037,653.23
Accounts payable
reinsurance
provison for insurance
contract
Acting sale of securities
Acting underwriting
securities
Long-term liabilities to be
expired in one year 520,000.00 520,000.00
Other current liabilities 280,230.99 700,031.40
Total current liabilities 683,530,955.40 910,506,908.55
non-current liabilities：
Long-term borrowings 1,489,984.87 1,489,984.87
Bonds payable
Long-term accounts
payable 22,095,953.99 22,316,553.05
Specific payable
Contingent liabilities 357,064,805.49 423,512,508.26
Deferred tax, debit 27,634,770.63 30,727,905.06
Other non-current
liabilities
Total non-current
liabilities 408,285,514.98 478,046,951.24
Total liabilities 1,091,816,470.38 1,388,553,859.79
owners' equity (or
shareholder’s equity)：
Paid-up capital (or stock) 448,886,777.00 448,886,777.00
Capital reserve fund 393,186,858.95 397,168,468.55
Less: treasury stockSGSB GROUP CO.,LTD 2010 Interim Report
2 1
Special provision
Surplus reserve fund 4,546,242.52 4,546,242.52
General risk reserve
Undistributed profit -278,399,294.44 -282,061,908.47
Difference of foreign
currency translation -47,923,737.43 -16,065,589.05
Total owners' equity
attributable to parent company 520,296,846.60 552,473,990.55
Minority interests 35,684,535.06 37,352,998.57
Total owners' equity 555,981,381.66 589,826,989.12
Total liabilities and
owners' equity 1,647,797,852.04 1,978,380,848.91
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
Balance Sheet of Parent Company
June 30, 2010:
RMB'
Item Note Ending balance Beginning balance
Current assets：
Cash and cash equivalents 145,613,574.57 285,588,414.17
Tradable financial assets 279,849.68 382,594.48
Bills receivable 1,033,600.00 7,000,000.00
Accounts receivable 23,103,817.64 28,076,674.27
Prepayments 175,501.97 5,359,900.48
Interest receivable
Dividend receivable 6,569,134.74 103,972.09
Other receivables 209,780,662.11 255,659,757.49
Inventories 23,594,301.11 25,052,102.35
Non-current assets to be
expired in one year
Other current assets 145,760.00
Total current assets 410,150,441.82 607,369,175.33
Non-current assets：
Available for sale financial
assets
5,927,759.85 6,582,057.57
Held-to-maturity
investment
Long-term receivables
Long-term investment on
stocks 443,920,786.72 314,742,401.92
Investment properties 97,068,065.07 99,223,041.03
Fixed assets 76,690,205.94 74,255,095.42
Construction in progress 187,946.63 482,738.48
Construction materials
Disposal of fixed assets
Consumable biological
asset
Oil&gas asset
Intangible assets 30,533,232.72 32,091,996.45
R&D expenseSGSB GROUP CO.,LTD 2010 Interim Report
2 2
Goodwill
Long-term unamortized
expense
Deferred tax, asset
Other non-current assets
Total non-current assets 654,327,996.93 527,377,330.87
Total assets 1,064,478,438.75 1,134,746,506.20
Current liabilities： 247,948,148.62 281,948,148.62
Short-term loans
Tradable financial
liabilities 2,808,428.76
Bills payable 25,117,797.15 34,159,561.80
Accounts payable 4,275,160.12 6,920,954.58
Wages and salaries unpaid 12,368,646.68 39,358,349.50
Tax unpaid 881,435.70 729,136.11
Interest unpaid
Dividend unpaid 1,032,818.86 1,032,818.86
Other payables 118,152,909.91 119,764,915.56
Long-term liabilities to be
expired in one year 400,000.00 400,000.00
Other current liabilities
Total current liabilities 410,176,917.04 487,122,313.79
non-current liabilities：
Long-term borrowings 989,984.87 989,984.87
Bonds payable
Long-term accounts
payable 1,611,944.32 1,611,944.32
Specific payable
Contingent liabilities 35,546,274.60 35,546,274.60
Deferred tax, debit 1,197,067.41 1,197,067.41
Other non-current
liabilities
Total non-current
liabilities 39,345,271.20 39,345,271.20
Total liabilities 449,522,188.24 526,467,584.99
owners' equity (or
shareholder’s equity)：
Paid-up capital (or stock) 448,886,777.00 448,886,777.00
Capital reserve fund 503,680,453.42 504,334,751.14
Less: treasury stock
Special provision
Surplus reserve fund 4,546,242.52 4,546,242.52
General risk reserve
Undistributed profit -342,157,222.43 -349,488,849.45
Total owners' equity(or
shareholder’s equity) 614,956,250.51 608,278,921.21
Total liabilities and
owners' equity 1,064,478,438.75 1,134,746,506.20
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao LiliSGSB GROUP CO.,LTD 2010 Interim Report
2 3
Profit/Loss Statement
January- June 2010
RMB'
Item Note Current period Last period
1. Total operating revenues 855,001,867.84 754,382,039.09
including：Operating income 855,001,867.84 754,382,039.09
Interest income
Earned insurance
Fees and commission income
2. Total operating cost 868,691,839.63 910,278,912.00
including：Operating expense 685,456,147.32 667,761,921.44
Interest expense
Fees and commission expense
Surrender value
Net claims paid
net reserve for Extraction of
the insurance contract,
Dividend expense for
insurance policy
Reinsurance costs
Principal operating tax and
associate charge 1,730,093.09 2,261,448.96
Sales expense 86,051,954.07 104,016,486.35
Management expense 91,864,322.87 107,400,238.22
Financial expense 15,736,223.33 29,644,028.27
Impairment of assets -12,146,901.05 -805,211.24
Add: Net income in fluctuation of
fair value(less: loss) -82,143.59 872,969.06
Investment income(less: loss) 7,809,420.47 15,351,195.68
Including: investment income
in associated and joint-ventured
enterprises
Exchange earning(less: loss)
3. Operating profit (less: loss) -5,962,694.91 -139,672,708.17
Add：Non-operating income 16,921,154.13 1,345,555.28
Less：Non-operating expense 2,550,722.44 2,220,655.28
Including：net loss in disposal of
non-current assets
4. Total profit(less: loss) 8,407,736.78 -140,547,808.17
Less：Income tax 2,537,329.49 1,071,898.23
5. Net profit(less: loss) 5,870,407.29 -141,619,706.40
Net profit attributable to parent
company 3,662,614.03 -131,415,724.73
Minority interest 2,207,793.26 -10,203,981.67
6.：Earning per share
（1）Basic earning per share 0.0082 -0.2928
（2）Diluted earning per share 0.0082 -0.2928SGSB GROUP CO.,LTD 2010 Interim Report
2 4
7. Other comprehensive income -39,716,014.75 8,646,418.29
8. Total comprehensive income -33,845,607.46 -132,973,288.11
Total comprehensive income
attributable to parent company -32,177,143.98 -123,374,659.40
Total comprehensive income
attributable to minority interest -1,668,463.48 -9,598,628.71
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
Profit/Loss Statement of Parent Company
January- June 2010
RMB’
Item Note Current period Last period
1. Operating revenues 86,334,574.45 7,070,221.74
Less：Operating expense 69,387,960.27 5,169,583.49
Operating tax and associate
charge 1,399,069.77 174,450.10
Sales expense 3,290,889.54 114,579.82
Management expense 29,936,810.11 20,531,755.54
Financial expense 9,102,255.04 11,523,239.73
Impairment of assets -3,796,838.74 544,111.21
Add: Net income in fluctuation of
fair value(less: loss) -102,744.80 132,728.71
Investment income(less: loss) 19,083,032.13 23,598.25
Including: investment income
in associated and joint-ventured
enterprises
2. Operating profit (less: loss) -4,005,284.21 -30,831,171.19
Add：Non-operating income 12,190,651.20 474,193.14
Less：Non-operating expense 853,739.97 324,050.00
Including：net loss in disposal
of non-current assets
3. Total profit(less: loss) 7,331,627.02 -30,681,028.05
Less：Income tax
4. Net profit(less: loss) 7,331,627.02 -30,681,028.05
5.：Earning per share
（1）Basic earning per share 0.0163 -0.0683
（2）Diluted earning per share 0.0163 -0.0683
6. Other comprehensive income -654,297.72 2,150,606.73
7. Total comprehensive income 6,677,329.30 -28,530,421.32
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
Cash Flow Statement
January- June 2010
RMB’
Item Note Current period Last period
1. Cash flow from operatingSGSB GROUP CO.,LTD 2010 Interim Report
2 5
activities：
Cash inflow from sale of
goods and provision of services 839,230,919.29 818,308,730.08
Customer deposits and
payments with the net increase
placements
Net increase in loans to the
Central Bank
Net increase in Borrowings
to other financial institutions
Original insurance contract
premiums received in cash
Net cash received
reinsurance
Net increase in insured
savings and investment section
Net increase in disposal of
tradable financial assets
Cash inflow from interest,
fees and commission
Net increase in borrowings
Net increase in repurchase
business funds
Tax refunds received 31,151,054.00 34,099,091.09
Cash inflow from other
operating activities 10,494,563.29 13,537,953.98
Sub-total cash inflow
from operating activities 880,876,536.58 865,945,775.15
Cash inflow from sale of
goods and provision of services 623,266,749.91 593,758,989.02
Net increase in loans and
advances to customers
Net increase in deposit in
central bank and interbank fund
Cash for payment of
original insurance claims
Cash outflow from interest,
fees and commission
Cash dividends paid to
policyholders
Cash paid to and for
employees 264,698,237.35 268,794,816.28
Cash paid for tax 12,471,393.01 17,803,503.69
Cash paid for other
operating related activities 60,398,443.59 72,734,021.72
Sub-total cash outflow
from operating activities 960,834,823.86 953,091,330.71
Net cash in/outflow
from operating activities -79,958,287.28 -87,145,555.56SGSB GROUP CO.,LTD 2010 Interim Report
2 6
2. Net cash in/outflow
generated from investment
activities：
Cash inflow from taking
back investment 223,301.14
Cash inflow from return on
investment 862,569.38 15,351,195.68
Cash gain from disposal of
fixed assets, intangible assets,
and other long-term investment
53,604,233.61 2,104,952.75
Cash inflow from disposal
of subsidiaries and other
operating units
17,791,100.00
Other proceeds related to
investment activities
Sub-total cash inflow
from investing activities 54,690,104.13 35,247,248.43
Cash paid for acquisition of
fixed assets, intangible assets
and other long-term assets
13,236,490.76 14,373,861.37
Cash paid for investment 314,855.01
Net increase in securities in
loan
Cash paid for acquisition of
subsidiaries and other operating
units
Cash paid for other
activities related to investment
Sub-total cash outflow
from investing activities 13,236,490.76 14,688,716.38
Net cash in/outflow
generated from investment
activities
41,453,613.37 20,558,532.05
3. Cash flow from financing
activities：
Absorption of investment
Including cash inflow from
absorbing minority
shareholder investment
Borrowings raised 159,939,883.95 217,200,000.00
Cash received from issuing
bonds
Other cash inflow related to
financing activities
Sub-total cash inflow
from financing activities 159,939,883.95 217,200,000.00
Cash paid for debt 278,987,500.00 209,693,256.24
Dividend, interest and
profit paid 20,692,206.46 12,268,768.18SGSB GROUP CO.,LTD 2010 Interim Report
2 7
Including dividend and
profit paid by subsidiaries to
minority shareholder
Other cash outflow related
to financing activities 10,586.88 2,355,326.38
Sub-total cash outflow
from financing activities 299,690,293.34 224,317,350.80
Net cash in/outflow
from financing activities -139,750,409.39 -7,117,350.80
4. Influence of fluctuation of
exchange rate -26,757,773.91 -551,919.60
5. Net increase/decrease in
cash and cash equivalents -205,012,857.21 -74,256,293.91
Add： Beginning balance
of cash and cash equivalents
467,658,653.68 353,799,316.68
6. Ending balance of cash and
cash equivalents 262,645,796.47 279,543,022.77
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao Lili
Cash Flow Statement of Parent Company
January- June 2010
RMB’
Item Note Current period Last period
1. Cash flow from
operating activities：
Cash inflow from sale
of goods and provision of
services
83,844,989.29 8,874,928.67
Tax refunds received
Cash inflow from other
operating activities 26,455,356.19 14,597,252.84
Sub-total cash inflow
from operating activities 110,300,345.48 23,472,181.51
Cash inflow from sale
of goods and provision of
services
69,576,033.71 5,425,071.17
Cash paid to and for
employees 45,973,024.51 10,769,512.49
Cash paid for tax 5,394,364.50 1,269,299.48
Cash paid for other
operating related activities 22,321,949.92 10,055,176.28
Sub-total cash
outflow from operating
activities
143,265,372.64 27,519,059.42
Net cash
in/outflow from operating
activities
-32,965,027.16 -4,046,877.91
2. Net cash in/outflowSGSB GROUP CO.,LTD 2010 Interim Report
2 8
generated from investment
activities：
Cash inflow from
taking back investment
Cash inflow from
return on investment 15,697,491.43
Cash gain from
disposal of fixed assets,
intangible assets, and other
long-term investment
50,960,261.40 576,250.00
Cash inflow from
disposal of subsidiaries and
other operating units
Other proceeds related
to investment activities
Sub-total cash inflow
from investing activities 66,657,752.83 576,250.00
Cash paid for
acquisition of fixed assets,
intangible assets and other
long-term assets
1,768,386.40 746,592.67
Cash paid for
investment 133,281,685.73
Cash paid for
acquisition of subsidiaries
and other operating units
Cash paid for other
activities related to
investment
Sub-total cash
outflow from investing
activities
135,050,072.13 746,592.67
Net cash
in/outflow generated from
investment activities
-68,392,319.30 -170,342.67
3. Cash flow from
financing activities：
Absorption of
investment
Borrowings raised 136,600,000.00 182,200,000.00
Cash received from
issuing bonds
Sub-total cash inflow
from financing activities 136,600,000.00 182,200,000.00
Cash paid for debt 170,600,000.00 172,200,000.00
Dividend, interest and
profit paid 4,618,229.77 10,964,196.29
Other cash outflow
related to financing 2,330,000.00SGSB GROUP CO.,LTD 2010 Interim Report
2 9
activities
Sub-total cash
outflow from financing
activities
175,218,229.77 185,494,196.29
Net cash
in/outflow from financing
activities
-38,618,229.77 -3,294,196.29
4. Influence of fluctuation
of exchange rate 736.63 -132,387.59
5. Net increase/decrease in
cash and cash equivalents -139,974,839.60 -7,643,804.46
Add： Beginning
balance of cash and cash
equivalents
273,006,414.17 55,099,297.35
6. Ending balance of cash
and cash equivalents 133,031,574.57 47,455,492.89
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao LiliSGSB GROUP CO.,LTD Interim report 2010
30
Owners' Equity -Consolidated
January- June 2010
RMB’
Current period balance
Owners' equity attributable to parent company
Item
Paid-up capital Capital reserve
Less:
treasury
stock
Special
provisio
n
Surplus
reserve
General
risk
preparatio
n
Undistributed
profit Others
Minority
interest
Total owners'
equity
1. Last accounting
period balance 448,886,777.00 397,168,468.55 4,546,242.52 -282,061,908.47 -16,065,589.05 37,352,998.57 589,826,989.12
Add:
accounting policy
changes
Correctio
n of previous-period
accounting errors
Others
2. Beginning balance 448,886,777.00 397,168,468.55 4,546,242.52 -282,061,908.47 -16,065,589.05 37,352,998.57 589,826,989.12
3. Increase/decrease -3,981,609.60 3,662,614.03 -31,858,148.38 -1,668,463.51 -33,845,607.46
(1) Net profit 3,662,614.03 2,207,793.26 5,870,407.29
(2) Gains and losses
directly into owners'
equity
-3,981,609.60 -31,858,148.38 -3,876,256.77 -39,716,014.75
Sub-total of (1) and
(2) -3,981,609.60 3,662,614.03 -31,858,148.38 -1,668,463.51 -33,845,607.46
(3) Owner inputs and
reducing capital
a. Owner inputs
capital
b. Shares included in
owners' equity
c. Others
(4) Profit distribution
a. Surplus reserveSGSB GROUP CO.,LTD 2010 Interim Report
3 1
b. General risk
reserve
c. Distribution to
owners or
shareholders
d. Others
(5). Inner carry-over
of owners' equity
a. Capital reserve
turn to stock equity
b. Surplus reserve
turn to stock equity
c. Surplus reserve to
recover loss
d. Others
(6). Special provision
a. Current extraction
b.Current use
4. Ending balance 448,886,777.00 393,186,858.95 4,546,242.52 -278,399,294.44 -47,923,737.43 35,684,535.06 555,981,381.66
RMB’
Previous period
Owners' equity attributable to parent company
Item
Paid-up capital Capital reserve
Less:
treasury
stock
Special
provision
Surplus
reserve
General risk
preparation
Undistributed
profit Others
Minority interest Total owners'
equity
1. Last accounting period
balance 448,886,777.00 390,948,871.29 4,546,242.52 -315,467,421.74 -20,169,554.87 56,238,398.48 564,983,312.68
Add:
accounting policy
changes
Correction
of previous-period
accounting errors
Others
2. Beginning balance 448,886,777.00 390,948,871.29 4,546,242.52 -315,467,421.74 -20,169,554.87 56,238,398.48 564,983,312.68SGSB GROUP CO.,LTD 2010 Interim Report
3 2
3. Increase/decrease 8,725,225.84 -131,415,724.73 -684,160.51 -9,598,628.71 -132,973,288.11
(1) Net profit -131,415,724.73 -10,203,981.67 -141,619,706.40
(2) Gains and losses
directly into owners'
equity
8,725,225.84 -684,160.51 605,352.96 8,646,418.29
Sub-total of (1) and (2) 8,725,225.84 -131,415,724.73 -684,160.51 -9,598,628.71 -132,973,288.11
(3) Owner inputs and
reducing capital
a. Owner inputs capital
b. Shares included in
owners' equity
c. Others
(4) Profit distribution
a. Surplus reserve
b. General risk reserve
c. Distribution to owners
or shareholders
d. Others
(5). Inner carry-over of
owners' equity
a. Capital reserve turn to
stock equity
b. Surplus reserve turn to
stock equity
c. Surplus reserve to
recover loss
d. Others
(6). Special provision
a. Current extraction
b.Current use
4. Ending balance 448,886,777.00 399,674,097.13 4,546,242.52 -446,883,146.47 -20,853,715.38 46,639,769.77 432,010,024.57
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao LiliSGSB GROUP CO.,LTD 2010 Interim Report
33
Owners' Equity-Parent Company
January- June 2010
RMB’
Current period
Item Paid-up
capital
Capital
reserve
Less:
treasury
stock
Special
provision
Surplus
reserve
General
risk
preparatio
n
Undistributed
profit Total owners' equity
1. Last accounting
period balance 448,886,777.00 504,334,751.14 4,546,242.52 -349,488,849.45 608,278,921.21
Add:
accounting policy
changes
Correctio
n of previous-period
accounting errors
Others
2. Beginning balance 448,886,777.00 504,334,751.14 4,546,242.52 -349,488,849.45 608,278,921.21
3. Increase/decrease -654,297.72 7,331,627.02 6,677,329.30
(1) Net profit 7,331,627.02 7,331,627.02
(2) Gains and losses
directly into owners'
equity
-654,297.72 -654,297.72
Sub-total of (1) and
(2) -654,297.72 7,331,627.02 6,677,329.30
(3) Owner inputs and
reducing capital
a. Owner inputs
capital
b. Shares included in
owners' equity
c. Others
(4) Profit distribution
a. Surplus reserve
b. General risk
reserve
c. Distribution to
owners or
shareholders
d. Others
(5). Inner carry-over
of owners' equity
a. Capital reserve
turn to stock equity
b. Surplus reserve
turn to stock equity
c. Surplus reserve to
recover loss
d. Others
(6). Special provision
a. Current extraction
b.Current use
4. Ending balance 448,886,777.00 503,680,453.42 4,546,242.52 -342,157,222.43 614,956,250.51
RMB’
Previous period
Item Paid-up
capital
Capital
reserve
Less:
treasury
stock
Special
provision
Surplus
reserve
General
risk
preparatio
n
Undistributed
profit Total owners' equity
1. Last accounting
period balance
448,886,777.00 394,611,254.25 4,546,242.52 -543,874,979.20 304,169,294.57SGSB GROUP CO.,LTD 2010 Interim Report
34
Add:
accounting policy
changes
Correctio
n of previous-period
accounting errors
Others
2. Beginning balance 448,886,777.00 394,611,254.25 4,546,242.52 -543,874,979.20 304,169,294.57
3. Increase/decrease 2,150,606.73 -30,681,028.05 -28,530,421.32
(1) Net profit -30,681,028.05 -30,681,028.05
(2) Gains and losses
directly into owners'
equity
2,150,606.73 2,150,606.73
Sub-total of (1) and
(2)
2,150,606.73 -30,681,028.05 -28,530,421.32
(3) Owner inputs and
reducing capital
a. Owner inputs
capital
b. Shares included in
owners' equity
c. Others
(4) Profit distribution
a. Surplus reserve
b. General risk
reserve
c. Distribution to
owners or
shareholders
d. Others
(5). Inner carry-over
of owners' equity
a. Capital reserve
turn to stock equity
b. Surplus reserve
turn to stock equity
c. Surplus reserve to
recover loss
d. Others
(6). Special provision
a. Current extraction
b.Current use
4. Ending balance 448,886,777.00 396,761,860.98 4,546,242.52 -574,556,007.25 275,638,873.25
Legal representative: Zhang Min
CFO: Ma Minliang
Financial Director: Gao LiliSGSB GROUP CO.,LTD 2010 Interim Report
35
1. General information
SGSB Group Co., Ltd. (the Company), joint stock limited company with publicly issued A & B shares
on Shanghai Stock Exchange, is the first listed company in the sewing machinery sector of the
People’s Republic of China. The Company got the Corporate Business License numbered
310000400080303 (Municipal Bureau) authorized by local administration of industry and commerce in
April, 1994. The Company, with register capital of RMB 448,886,777, has 1201 Luoshan Road,
Pudong New Area, Shanghai PRC as register address, 12F, 1200 Century Avenue, Pudong New Area,
Shanghai as headquarters’ address, and Mr. Zhang Min as legal representative.
The Company is mainly engaged in the manufacture and sales of industrial sewing machines and
equipment, with more than 10 major categories of products with a total of 21 series and over 100
different varieties of sewing machines, including high speed lockstitch sewing machines, high speed
overlock sewing machines, leather products sewing machines, bartacking sewing machines, bag
closing sewing machines, button hole sewing machines and other specialized sewing equipment.
Almost all its products are marked with the five registered trademarks “Shanggong”, “Shuanggong”,
“Butterfly”, “Bee” and “Flying Man”. During recent years, the Company pays priority to the R&D of
new sewing machinery products. Particularly after the acquisition of Durkopp Adler AG (public listed
company in Germany) in 2005, the Company has been availing the advanced technology of Durkopp
Adler to realize the upgrade and development of the products’ structure, and moving gradually the
production of DA’s products which are popular in Asian market to China with purpose of satisfying
the growing demand of customers for auto-running sewing machines.
At the meantime, the Company has also expanded its business in recent years, and entered material
transmission equipment, office appliances, sensitive films, international trade and logistic industries.
On May 22, 2006, the General Meeting of Shareholders considered and approved the non-tradable
equity reform proposal, whose core content is that the non-tradable equity stockholders pay partially
their shares to all the tradable equity shareholders at a ratio of 10:6 as consideration of getting tradable
rights. After the payment, the total number of shares remains unchanged, but the equity structure has
changed as following: as at June 30, 2010, the total number of shares is of 448,886,777, 100%
categorized as unconditionally tradable shares.
2. Principal accounting policies, estimations and early errors
2.1 Basis for the formulation of financial statements
Based on the sustainable operation and according to really occurred transactions and affairs, the
Company adopts “Accounting Standards for Business Enterprises-Basic Standards” and related
additional regulations in the preparation of its financial statements.
2.2 Declaration for the adoption of the Accounting Standards for Enterprises
The financial statements and annotations prepared by the Company, strictly under the guideline of
“Accounting Standards for Business Enterprises”, reflect truly and integrally the information such as
financial status, business achievements and cash flows of the Company.
2.3 Accounting Calendar
Annotations to Financial StatementsSGSB GROUP CO.,LTD 2010 Interim Report
36
The Company adopts the Gregorian calendar and defines every accounting year as beginning at
January 1 and ending at the same December 31.
2.4 Measurement currency
The Company maintains its books and records in Renminbi (RMB).
The overseas subsidiaries of the Company adopt at their books respectively the currency adopted by
the places where their principal operations are installed, and translate them into Renminbi on the
preparation of financial statements.
2.5 Accounting treatment of business combination under/not under the same controller
2.5.1 Under the same controller
The acquired assets and liabilities by the company through business combination are measured at their
book value with the merged parties on the date of merger. The capital surplus should be adjusted
based on the difference between the book value of net assets obtained from business combination and
the book value of the paid price for the combination (or the total nominal value of issued shares). And
in case that the capital surplus was less than the write-offs, the retained earnings should be adjusted.
All the direct costs paid by the Company for the conduct of business combination, including audit fees,
appraisal fees, legal services, etc., should be accounted into current profit and loss at the time incurred.
The fees, commission, etc., occurred during the issuance of equity securities for the business
combination should offset the premium income. In case that the premium income was less than writedowns,
the retained earnings should be recorded for reduction.
If the accounting policies adopted by the merged parties are inconsistent with those of the Company,
the Company can make adjustment in accordance with its accounting policies on the date of
combination, and confirm them in accordance with the Accounting Standards for Enterprises
confirmation.
2.5.2 Not under the same controller
The company accounts the assets and liabilities paid as price for the business combination at their fair
value on the date of acquisition. The difference between the fair value and the book should be
included in current profit and loss.
The company allocates the merger costs on the date of acquisition.
The Company recognize as goodwill the difference of the combination costs more than the fair value of
the identifiable net assets obtained from the merged parties, and accounts into current profit and loss
the difference of the fair value of the identifiable net assets obtained from the merged parties than the
combination costs.
All the other assets except intangible assets (not limited to the identified assets originally belonged to
the merged parties), whose economic benefits are likely to flow to the company and whose fair value
can be reliably measured, should be accounted separately at their fair value; the intangible assets whose
fair value can be reliably measured should be recognized separately as intangible assets and accounted
at their fair value; all the other liabilities except contingent liabilities, whose fulfillment is likely to lead
to outflow of economic benefits of the Company and whose fair value can be reliably measured, should
be accounted separately at their fair value; the contingent liabilities obtained from the merged parties
whose fair value can be reliably measured, should be recognized separately as liabilities and accounted
at their fair value.
2.6 Preparation of the consolidated financial statements
The consolidation scope of the Company's financial statements has the real control as basis, and all
subsidiaries are included in the consolidated financial statements.
All the consolidated subsidiaries adopt the same accounting policies and accounting period. In caseSGSB GROUP CO.,LTD 2010 Interim Report
37
that the subsidiary's accounting policies and accounting period are inconsistent with those of the
Company, the inconsistent elements should be adjusted according to the company's accounting policies
and accounting period.
The Company prepares the consolidated financial statements based on the financial statements of the
Company itself and of its subsidiaries, with adoption of other relevant information, and after necessary
adjustments based on equity method.
There should be offset the influence of the internal transactions between the Company and its
subsidiaries, the subsidiaries themselves upon the consolidated balance sheet, consolidated income
statement, consolidated cash flow statement, and consolidated owner's equity sheet.
If the current-period loss for minority shareholders of the subsidiaries is more than the beginning
balance of the minority interests, the owner's equity of the Company should be offset when the Articles
of Association or any other agreements haven’t shown that the minority shareholders should fulfill the
obligation; or the minority shareholders should pay for the difference when the Articles of Association
or any agreements share have fixed the obligation for them.
During the report period, for those subsidiaries newly absorbed by business combination under the
same controller, the Company should adjust the beginning balance of the consolidated balance sheet;
include the current-period income, expenses and profits of the subsidiaries into the consolidated profit
and loss statement; and include the current-period cash flow of the subsidiaries into the consolidated
cash flow statement.
During the report period, for those subsidiaries newly absorbed by business combination not under the
same controller, the Company should not adjust the beginning balance of the consolidated balance
sheet; include the income, expenses and profits of the subsidiaries from the acquisition date to the
period-end into the consolidated profit and loss statement; and include the cash flow of the subsidiaries
from the acquisition date to the period-end into the consolidated cash flow statement.
During the report period, on disposal of subsidiaries, the Company should incorporate the income,
expenses and profits of the subsidiaries from the period-beginning to the disposal date into the
consolidated profit and loss statement; and incorporate the cash flow of the subsidiaries from the
period-beginning to the disposal date into the consolidated cash flow statement.
2.7 Criteria for the definition of cash and cash equivalent
For the purpose of the cash flow statement, cash represents the cash on hand and ready for payment in
cash deposits of the Company, cash equivalent comprises short-term investments with maturity within
three months that are characterized with active fluidity, easy to transfer to realizable value and less
risky for value fluctuation.
2.8 Foreign currency calculation and translation of financial statements in foreign currency
2.8.1 Foreign currency calculation
Foreign currency transactions are translated into the measurement currency using the spot exchange
rate prevailing at the date of the transaction.
The balance of foreign currency monetary items is adjusted and translated into measurement currency
at balance sheet date using the spot exchange rate. Regarding the year-end differences of translation in
foreign currency, except those special borrowing accounts under the acquisition, building or
production of assets to be capitalized are capitalized and accounted into related assets cost, all the other
differences are accounted into current profits and losses. The foreign currency non-monetary items at
historical cost are translated using the spot exchange rate. And the foreign currency non-monetary
items at fair value are adjusted and translated into measurement currency at adoption date of fair value
using the spot exchange rate. The difference of translation between different currencies is accounted
into current profits and losses or capital reserves.SGSB GROUP CO.,LTD 2010 Interim Report
38
2.8.2 Translation of financial statements in foreign currency
All the assets and liabilities items in the Balance Sheet adopt for the translation the spot exchange rate
at balance sheet date. The items under the owners’ equity, except the undistributed profits, are
translated at their occurrence at the spot exchange rate. The spot exchange rate at the transaction date
or the exchange rate approximate to spot rate defined by a systematic rational method should be
adopted for the income/expense items, and the difference caused by such translations should be listed
separately under the owners’ equity in the Balance Sheet.
On disposal of overseas operations, the corresponding difference of foreign currency translation related
to the overseas operations should be moved from owners’ equity to current profits and losses. On
partial disposal of overseas operations, the partial proportion of difference should also be converted
into current profits and losses.
2.9 Financial instruments
Financial instruments consist of financial assets, financial liabilities and equity instruments.
2.9.1 Classification of financial instruments
The Company classifies the financial assets and liabilities by their purposes: financial assets or
liabilities at fair value and accounted into current profits and losses (for example, tradable financial
assets or liabilities); held to maturity investments; loans and receivable accounts; financial assets
available for sale and other financial liabilities.
2.9.2 Definition and measurement of financial instruments
2.9.2.1 Financial assets and liabilities at fair value and accounted into current profits and losses
The fair value (after deduction of cash dividend to be distributed and bonds interest to be received) of
the assets on the acquisition should be adopted as initial recognized value, and related transaction
expenses should be accounted into current profits and losses.
The interests and cash dividend received should be recognized as investment income during the period,
and the difference of fair value between initial and spot dates should be accounted into current profits
and losses at the end of period.
On the disposal of the assets, the difference between the obtained price and the book value of
investment should be recognized as investment income, and the accumulated fair value profits and
losses should be accordingly adjusted.
2.9.2.2 Held to maturity investments
The fair value (after deduction of bond interests whose period has matured but not charged yet) plus
the related transactions fees should be adopted as initial recognized value.
During the holding period, the interest income should be confirmed and included into investment
income in accordance with the amortized costs and the real interest rate (according to nominal interest
rates if the difference between the real interest rate and the nominal interest rate is small). The real
interest rate should be determined at the time made, and remain unchanged during the expected
duration or applicable shorter period.
On disposal of these investments, the difference between the income from investment and the book
value of investment should be accounted into investment income.
2.9.2.3 Receivable accounts
The contract price charged to the buyers should be recognized as initial value for those receivable
accounts which mainly composes of the receivable creditor’s right caused by the sale of goods and the
providing of labor services, and receivables in other companies excluding debt instruments priced in
active markets, includes but not limits in receivable bills, receivable accounts, other receivables,
prepayments and long-term receivables. If characterized as financing activities, the initial recognition
should be priced at present value.SGSB GROUP CO.,LTD 2010 Interim Report
39
The differences between sale value and book value should be accounted into current profits and losses
on its recovery or disposal.
2.9.2.4 Financial assets available for sale
The fair value (less than cash dividend to be distributed and bonds’ interest to be received) and
relevant transaction expenses of the assets on the acquisition should be adopted as initial recognized
value.
The interests and cash dividend received should be recognized as investment income during the period,
and the difference of fair value between initial and spot dates should be accounted into capital reserve
(other capital reserve).
On the disposal of the assets, the difference between fair value and initial value should be recognized
as investment profits and losses, and the accumulated variance of fair value caused by the disposal
should be simultaneously moved from shareholders’ equity to investment profits and losses.
2.9.2.5 Other financial liabilities
The Company adopts the fair value and relevant transaction expenses as initial recognized value and
takes amortized cost for subsequent measurement.
2.9.3 Recognition and measurement of the financial assets transfer
On the transfer of financial assets, these assets should be no longer recognized if nearly all the risks
and rewards relating to the ownership have been transferred to the transferee; if in contrary cases, they
should be still recognized as financial assets of the Company.
The principle of “Substance over Form” is adopted in judging the termination or not of recognizing
financial assets. The transfer of financial assets is also divided into two cases: entire transfer and
partial transfer. If the transfer of an entire financial asset satisfies the conditions for stop recognition,
the difference between the amounts of the following 2 items shall recorded in the profits and losses of
the current period:
2.9.3.1 The book value of the transferred financial asset;
2.9.3.2 The aggregate consideration received from the transfer, and the accumulative amount of the
changes of the fair value originally recorded in the owner’s equities (in the event that the financial
asset involved in the transfer is a financial asset available for sale).
If the transfer of partial financial asset satisfies the conditions for stopping recognition, the carrying
amount of the entire financial asset transferred shall, between the portion whose recognition has
stopped and the portion whose recognition has not stopped (under such circumstance, the service asset
retained shall be deemed as a portion whose recognition has not stopped), be allocated at their
respective relative fair value, and the difference between the amounts of the following 2 items:
(1) The book value of the portion whose recognition has stopped;
(2) The aggregate consideration of the portion whose recognition has stopped, and the portion of the
accumulative amount of the changes in the fair value originally recorded in the owner’s equities which
is corresponding to the portion whose recognition has stopped (in the event that the financial asset
involved in the transfer is a financial asset available for sale).
The Company should recognize financial assets and recognize the reception of consideration as
financial liabilities in case the transfer of these financial assets doesn’t satisfy the definition of
termination.
2.9.4 Conditions for derecognizing financial liabilities
If the current obligations of financial liabilities has been lifted in whole or in part, then the Company
should derecognize the financial liabilities in whole or in part thereof; if the Company signs an
agreement with creditors in order to take on new ways to replace the existing financial liabilities, and
the new liabilities and the existing financial terms are substantially different, the Company should
terminate recognizing the existing financial liabilities, and begin to recognize the new financial
liabilities at the same time.SGSB GROUP CO.,LTD 2010 Interim Report
40
If the terms of the contract involving the existing financial liabilities have been made with substantive
changes in whole or in part, the Company should terminate recognizing the existing financial liabilities
in whole or in part, and at the same time, adopt the modified version of financial liabilities as a new
one.
On derecognizing the financial liabilities in whole or in part, the difference between the book value of
these financial liabilities and the payment should be accounted into current profits and losses.
If buying back part of the financial liabilities, on the date of repurchase and in accordance with the
comparative fair value of the part to be continuously recognized and to be derecognized, the Company
should allocate the whole financial liabilities. The difference between the part assigned to the
derecognized book value and the payment (including the roll-out of non-cash assets or new financial
liabilities to be assumed) should be included into current-period profits and losses.
2.9.5 Definition of fair value of financial assets and liabilities
The Company adopts the year-end quotations in active markets as fair value of financial assets and
liabilities.
2.9.6 Depreciation reserves for financial assets (excluding accounts receivable)
2.9.6.1 Depreciation reserves for financial assets available for sale
At end of report year, the accumulated loss caused by the fair value decrease should be reclassified
from the original item of owners’ equity and recognized as impairment loss in case the fair value of
financial assets available for sale has decreased significantly or the decrease trend is considered to be
non-temporary under all the related conditions.
2.9.6.2 Depreciation reserves for held to maturity investments
The impairment loss of held to maturity investments is calculated in the light of the treatment of
accounts receivable’s depreciation.
2.10 Accounts receivable
2.10.1 Recognition and accruement of provision for bad debt in accounts receivable of individually
significant amount
2.10.1.1 Recognition criteria of provision for bad debt in accounts receivable of individually
significant amount
The accounts receivable of individually significant amount refer to the top five accounts receivable
with significant amount.
2.10.1.2 Accruement of provision for bad debt in accounts receivable of individually significant
amount
The Company takes individual depreciation test for those significant receivable accounts, and
determines the impairment loss and makes provision for bad debts based on the difference between
their future cash flow value and book value.
The estimated future cash flow of short-term accounts receivable shouldn’t be discounted at the
calculation of their impairment loss for the minor difference between their present value and future
cash flow.
2.10.2 Recognition and accruement of provision for bad debt in accounts receivable of insignificant
amount but whose package is characterized as highly risky credit portfolio
2.10.2.1 Definition of highly risky credit risk portfolio
For those insignificant receivable accounts, the Company classifies them as several groups whose
credit risk level is similar to those individually tested non-depreciation accounts, and determines the
impairment loss and makes proportional provision for bad debts based on the end-of-period balance.
2.10.2.2 Accruement based on highly risky credit risk portfolioSGSB GROUP CO.,LTD 2010 Interim Report
41
The Company determines the following proportion of provision for bad debts based on the actual loss
ratio of the anterior-periods receivable accounts with similar credit risk, and the consideration of actual
situations:
Age Provision proportion for accounts receivable (%) Provision proportion for other receivables (%)
Within one year 5 5
1-2 years 20 20
2-3 years 50 50
Over 3 years 100 100
2.11 Inventories
2.11.1 Classification of inventories
The inventories of the Company comprise: materials in transit, raw materials, turnover materials,
inventory products, work in progress, finished products, material in outside processing, etc.
2.11.2 Inventory pricing method on their delivery
Inventory products are accounted with weighted average method on their delivery.
2.11.3 Determination of net realizable value of inventories and accruement of stock depreciation
provision
The Company takes inventory checkup at end of each accounting period, and states or adjusts
depreciation reserves of inventories at the lower of cost or net realizable value.
During normal production, the cash realizable value of inventories directly for sale, such as products,
merchants and materials for sale is accounted by the estimated price less the estimated sales expenses
and taxes. During normal production, the cash realizable value of materials to be processed is
accounted by the estimated price of finished product less the estimated cost, sales expenses and taxes.
For those inventories with purpose of implementing sales contract or labor contract, the cash realizable
value is based on the contract price; if the inventories held more than fixed in the contract, the cash
realizable value of surplus part is accounted based on the market price.
At end of report year, the Company accrues separately the provisions for depreciation reserves of the
inventories. In case of low-cost and numerous-in-variety inventories, the Company classifies the
provision for depreciation of each kind of inventories. And the Company consolidates the provision
for depreciation of those inventories related to the production and sales of products in the same region,
with the same or similar utilization and purpose, and difficult to calculate separately.
In case the factors impacting the write-down of the inventories’ value disappear, the write-down
amount should be recovered and the according provision of impairment should be returned to current
profits and losses.
2.11.4 Inventory system
The Company adopts perpetual inventory system to take periodic or non-periodic inventory
checkup.
2.11.5 Provision for depreciation reserves of inventories
2.11.5.1 Inventory products are accounted with weighted average method on their delivery.
2.11.5.2 The amortization treatment of packing materials adopts one-off amortization method.
2.12 Long-term equity investment
2.12.1 Initial measurement
2.12.1.1 Long-term equity investment formed in the merger of enterprises
For the merger of enterprises under the same control, if the consideration of the merging enterprise is
that it makes payment in cash, transfers non-cash assets or bear its debts, it shall, on the date of merger,
regard the share of the book value of the owner's equity of the merged enterprise as the initial cost of
the long-term equity investment. The difference between the initial cost of the long-term equitySGSB GROUP CO.,LTD 2010 Interim Report
42
investment and the payment in cash, non-cash assets transferred as well as the book value of the debts
borne by the merging party shall offset against the capital reserve. If the capital reserve is insufficient
to dilute, the retained earnings shall be adjusted. All the directly related expenses, including audit fee,
appraisal fee, legal services fee etc, shall be accounted into current profits and losses.
For the merger under different control, the merger cost should be accounted at the fair value of assets
paid, liabilities carried and equity bonds issued by the merging party at the merger date, and other
direct expenses related to the transaction. For the gradual merger realized by separate procedures, the
merger cost should be the sum of every separate transaction. In case of any future events defined in
merger contract whose predictable occurrence could influence the merger cost and the related amount
could be reliably calculated at merger date, such amount should also be included in merger cost.
2.12.1.2 Long-term equity investment by other methods
The initial cost of a long-term equity investment obtained by making payment in cash shall be the
purchase cost which is actually paid.
The initial cost of a long-term equity investment obtained on the basis of issuing equity securities shall
be the fair value of the equity securities issued.
The initial cost of a long-term equity investment of an investor shall be the value stipulated in the
investment contract or agreement except the unfair value stipulated in the contract or agreement.
Under the conditions that the exchange of non-monetary assets is characterized with business essence,
and the fair value of the assets received or surrendered can be accounted in a reliable way, the book
value of assets received is defined on basis of the fair value of assets surrendered, except there are
conclusive evidences for the stronger reliability of the fair value of assets received. For the exchange
of those non-monetary assets not meeting the above premises, the book value of assets surrendered and
related taxes should be accounted as cost of assets received and the profits and losses shouldn’t be
concluded.
The initial cost of long-term equity investment obtained by recombination of liabilities shall be
accounted at fair value.
2.12.2 Subsequent measurement and recognition of profits and losses
2.12.2.1 Subsequent measurement
For a long term equity investment on the subsidiary company of an investing enterprise, the investing
enterprise shall accounted by employing the cost method, and shall make an adjustment by employing
the equity method when it works out consolidated financial statements.
The cost method shall be employed when a long-term equity investment of the investing enterprise that
does not do joint control or does not have significant influences on the invested entity, and has no offer
in the active market and its fair value cannot be reliably measured.
A long-term equity investment of the investing enterprise that does joint control or significant
influences over the invested entity shall be measured by employing the equity method. If the initial
cost of a long-term equity investment is more than the investing enterprise' attributable share of the fair
value of the invested entity's identifiable net assets for the investment, the initial cost of the long-term
equity investment may not be adjusted; if the initial cost of a long-term equity investment is less than
the investing enterprise' attributable share of the fair value of the invested entity's identifiable net assets
for the investment, the difference shall be included in the current profits and losses and the cost of the
long-term equity investment shall be adjusted simultaneously.
Where any change is made to the owner's equity other than the net profits and losses of the invested
entity, the book value of the long-term equity investment shall be adjusted and be included in the
owner's equity, and the capital reserves (other capital reserves) shall be accordingly adjusted, in
accordance with the attributable share of the net profits or losses of the invested entity.
2.12.2.2 Recognition of profits and lossesSGSB GROUP CO.,LTD 2010 Interim Report
43
Under cost method, the investment income recognized by the investing enterprise shall be limited to
the amount received from the accumulative net profits that arise after the invested entity has accepted
the investment. Where the amount of profits or cash dividends obtained by the investing entity exceeds
the aforesaid amount, it shall be regarded as recovery of initial investment cost.
Under equity method, an investing enterprise shall recognize the net losses of the invested enterprise as
following process: firstly, it shall dilute the book value of the long-term equity investment; secondly, if
the book value of the long-term equity investment is insufficient to dilute, it shall dilute the book value
of the long-term receivables under the limit of other long-term rights and interests which substantially
form the net investment made to the invested entity; lastly, after the above treatments, it shall recognize
the accrued liabilities according to the responsibilities in investment contract or agreement and account
them into current profits and losses.
If the invested entity realizes profits in posterior periods, the investing enterprise shall adopt the
contrary process, after the unrecognized losses, to write down the balance of the accrued liabilities,
recover the book value of other long-term rights and interests which substantially form the net
investment made to the invested entity, and recognize the investment profits.
2.12.3 Evidences for significant influences and the invested entity under joint control
Certain control is considered as joint control with other parties over the invested entity when it happens
over an economic activity in accordance with the contracts and agreements, which does not exist unless
the investing parties of the economic activity with one an assent on sharing the control power over the
relevant important financial and operating decisions. Certain case is considered as significant
influences when the investing entity owns the power to participate in making decisions on the financial
and operating policies of an enterprise, but not to control or do joint control together with other parties
over the formulation of these policies.
2.12.4 Impairment testing methods and impairment accrual method
For those long-term equity investments characterized with significant impact, not quoted in active
markets, and whose fair value can’t be reliably measured, the impairment loss is determined on basis of
the difference between their book value and the present value of similar financial assets whose market
rate of return on future cash flows can be discounted.
For those long-term equity investments, except the long- goodwill formed from business combination,
if the recoverable amount of the measurement results show that the recoverable amount of the longterm
equity investment below its book value, the difference will be recognized as impairment loss.
For goodwill formed by business combination, regardless of whether there is indication of impairment,
there should be conducted annual impairment testing.
The impairment loss of long-term equity investments can’t be returned back after the recognition.
2.13 Investment real estate
Investment real estate refers to the real estate held with purpose of rent earning, capital gaining or both
of them, including land user which has been rented out or is held for transference after capital
appreciation, and buildings which has been rented out.
The Company adopts cost calculation mode for measurement of investment real estate. On calculating
the depreciation, the Company adopts the same policy of fixed assets for measurement of investment
real estate and assets for rent, and the same policy of intangible assets for measurement of right of land
use for rent.
On appearance of evidence for depreciation, the Company estimates the recoverable value and defines
the impairment loss when the recoverable value is lower than its book value.
The impairment loss of investment real estate can’t be returned back after the recognition.
2.14 Calculation and depreciation of fixed assetsSGSB GROUP CO.,LTD 2010 Interim Report
44
2.14.1 Definition of fixed assets
The fixed assets of the Company refer to those tangible assets with service life more than one year and
related to production, labor services, for lease or management. The Company recognizes the fixed
assets when they meet the following conditions:
(1) The economic benefits pertinent to the fixed asset are likely to flow into the enterprise; and
(2) The cost of the fixed asset can be measured reliably.
2.14.2 Impairment method of fixed assets
The provision for decrease in value of fixed assets is made with straight-line method, with
consideration of the category of the assets, their estimates of service life and net salvage.
The fixed assets fit-up fee eligible for capitalization should be accrued individually in straight-line
method adopting the shorter period between two fit-ups and the remaining service life.
The estimated service life and depreciation rate of fixed assets by category is as following:
Category Service year Estimated net scrap value rate Annual rate of depreciation
House and construction 20-50 10% 1.8% - 4.5%
Machinery and equipment 5-15 10% 6% - 18%
Motor vehicles 5-10 10% 9 % - 18%
Electric appliances 5-10 10% 9%-18%
Fixtures 5-15 -- 6.6%-20%
Others 5-10 10% 9% - 18%
2.14.3 Testing method and provision for depreciation of fixed assets
The Company determines whether there is evidence of impairment that may occur upon fixed assets at
end of each period.
If there is indication of impairment of fixed assets, the Company should estimate its recoverable
amount. The recoverable amount is to be determined by the higher between the net price of the fair
value of fixed assets after subtracting costs of disposal and the present value of expected future cash
flows from fixed assets.
When the recoverable amount of fixed assets is below their book value, the book value of fixed assets
should be written down to its recoverable amount, and the amount of write-down should recognized as
impairment loss of fixed assets, and included into current profits and losses. At the same time, the
provision for depreciation of fixed assets should be accrued.
After the recognition of impairment losses of fixed assets, the depreciation of fixed assets for
impairment should be accordingly adjusted in future periods so that during the remaining useful life of
the fixed assets, the book value of adjusted fixed assets can be systematically amortized (less the
estimated net residual value).
After the recognition, the impairment loss of fixed assets shouldn’t be recovered in subsequent
accounting period.
If there are indications showing that a possible impairment of fixed assets could take place, the
Company should estimate its recoverable amount based on individual fixed assets. If difficult to do so,
the Company should determine the recoverable amount of the assets group on basis of the asset groups
to which the fixed assets belong.
2.15 Accounting of construction in progress
2.15.1 Category of construction in progress
The Company distinguishes the characteristics of each construction in progress in their real cost
accounting.
2.15.2 Standards and conversion date from construction in progress to fixed assets
The book value of construction in progress is accounted into fixed assets at all the expenses
occurred before the build-up of such assets available for intended use. After available forSGSB GROUP CO.,LTD 2010 Interim Report
45
intended use but before the final settlement, the built-up fixed assets are accounted at estimated
value and accrued under the depreciation policy of fixed assets based on construction’s budget,
cost or real cost. After the settlement, the Company should adjust the provisional estimate by real
cost, but not the accrued.
2.15.3 Testing method and provision for depreciation of construction in progress
The Company determines whether there is evidence of impairment that may occur upon construction in
progress at end of each period.
If there is indication of impairment of construction in progress, the Company should estimate its
recoverable amount. The recoverable amount is to be determined by the higher between the net
price of the fair value of construction in progress after subtracting costs of disposal and the
present value of expected future cash flows from construction in progress.
When the recoverable amount of construction in progress is below their book value, the book
value of construction in progress should be written down to its recoverable amount, and the
amount of write-down should recognized as impairment loss of construction in progress, and
included into current profits and losses. At the same time, the provision for depreciation of
construction in progress should be accrued.
After the recognition, the impairment loss of construction in progress shouldn’t be recovered in
subsequent accounting period.
If there are indications showing that a possible impairment of certain construction in progress
could take place, the Company should estimate its recoverable amount based on individual
construction. If difficult to do so, the Company should determine the recoverable amount of the
assets group on basis of the asset groups to which the construction in progress belongs.
2.16 Capitalization of the loan fees
2.16.1 Definition of capitalization of the loan fees
Where the borrowing costs incurred to the Company can be directly attributable to the acquisition and
construction or production of assets eligible for capitalization, it shall be capitalized and recorded into
the costs of relevant assets. Other borrowing costs shall be recognized as expenses on the basis of the
actual amount incurred, and shall be recorded into the current profits and losses.
The term "assets eligible for capitalization" shall refer to the fixed assets, investment real estate,
inventories and other assets, of which the acquisition and construction or production may take quite a
long time to get ready for its intended use or for sale.
The borrowing costs shall not be capitalized unless they simultaneously meet the following
requirements:
(1) The asset disbursements have already incurred, which shall include the cash, transferred non-cash
assets or interest bearing debts paid for the acquisition and construction or production activities for
preparing assets eligible for capitalization;
(2) The borrowing costs has already incurred; and
(3) The acquisition and construction or production activities which are necessary to prepare the asset
for its intended use or sale have already started.
2.16.2 Capitalization period
The capitalization period shall refer to the period from the commencement to the cessation of
capitalization of the borrowing costs, excluding the period of suspension of capitalization of the
borrowing costs.
When the assets of acquisition and construction or production are available for their intended use or
marketable condition, the capitalization of loans goes to the end.
When certain part of the assets of acquisition and construction or production is separately completed
and available for its intended use, the capitalization of loans for this part of assets goes to the end.SGSB GROUP CO.,LTD 2010 Interim Report
46
If different parts of the assets of acquisition and construction or production are separately completed,
but they could be available for their intended use or marketable condition only after the completion of
the construction in whole, the capitalization of loans goes to the end after the whole completion.
2.16.3 Suspension of capitalization period
Where the acquisition and construction or production of a qualified asset is interrupted abnormally and
the interruption period lasts for more than 3 months, the capitalization of the borrowing costs shall be
suspended. Where the interrupted acquisition and construction or production of the qualified asset is
available for intended use or marketable condition, the capitalization of loans should reinitiate. The
borrowings occurred during the suspension period should be determined as current-period profits and
losses, and the capitalization will not reinitiate until the reactivation of the interrupted acquisition and
construction or production of the qualified asset.
2.16.4 Calculation of capitalized loan fees
The to-be-capitalized amount of interests of the specially borrowed loans (minus the income of the
interests earned on the unused borrowing loans as a deposit in the bank or as a temporary investment)
and the ancillary expense incurred to the specifically borrowed loans incurred before a qualified asset
under acquisition, construction or production is ready for the intended use or sale, shall be capitalized
at the incurred amount when they are incurred.
The Company shall calculate and determine the to-be-capitalized amount of interests on the general
borrowing by multiplying the weighted average asset disbursement of the part of the accumulative
asset disbursements minus the general borrowing by the capitalization rate of the general borrowing
used. The capitalization rate shall be calculated and determined in light of the weighted average
interest rate of the general borrowing.
Where there is any discount or premium, the amount of discounts or premiums that shall be amortized
during each accounting period shall be determined by the real interest rate method, and an adjustment
shall be made to the amount of interests in each period.
2.17 Calculation of intangible assets
2.17.1 Pricing of intangible assets
2.17.1.1 The Company accounts its intangible assets at their real acquisition cost.
The cost of outsourcing intangible assets shall include the purchase price, relevant taxes and other
necessary expenditures directly attributable to intangible assets for the expected purpose. Where the
payment of purchase price for intangible assets is delayed beyond the normal credit conditions, which
is of financing intention, the cost of intangible assets shall be determined on the basis of the current
value of the purchase price.
The book value of the intangible assets acquired as debt assets through the recombination of liabilities
shall be accounted on basis of the fair value of the intangible assets, and the difference between the
book value of recombined liabilities and the fair value of debt assets should be accounted into current
profits and losses.
Under the conditions that the exchange of non-monetary assets is characterized with business essence,
and the fair value of the assets received or surrendered can be accounted in a reliable way, the book
value of assets received is defined on basis of the fair value of assets surrendered, except there are
conclusive evidences for the stronger reliability of the fair value of assets received. For the exchange
of those non-monetary assets not meeting the above premises, the book value of assets surrendered and
related taxes should be accounted as cost of assets received and the profits and losses shouldn’t be
concluded.
The book value of the intangible assets acquired through merger of enterprises under the same control
should be accounted at the book value of the merged enterprise. The book value of the intangibleSGSB GROUP CO.,LTD 2010 Interim Report
47
assets acquired through merger of enterprise not under the same control should be accounted at the fair
value of the acquired assets.
The cost of intangible assets developed internally includes: material and labor expenses, register fee,
amortization of other patent and franchise fee, interest expense eligible for capitalization during
development process, and other direct expenses for making the intangible assets available to its
intended use.
2.17.1.2 Subsequent measurement
The Company analyzes the service life of the acquired intangible assets.
For the intangible assets with limited service life, the economic benefits should be amortized with
straight-line method; for the intangible assets whose service life of economic benefits can’t be
predicted, the Company defines them as intangible assets with indefinite service life and won’t adopt
amortization upon them.
2.17.2 Estimate of service life for the intangible assets with limited life
Classification Service life
Land use right 50 years
Others 10 years
At end of report period, the Company should recheck the service life and amortization method of the
limited-life intangible assets.
The recheck in current period shows that there is no difference in the estimate of service life and
adoption of amortization method.
2.17.3 Provision for depreciation of intangible assets
For the intangible assets with definite service life, the Company practices the impairment testing at end
of period when there is obvious indications of impairment.
For the intangible assets with uncertain service life, impairment testing should be realized at the end of
each period.
With the impairment testing, the Company estimates the recoverable amount of intangible assets. The
recoverable amount of intangible assets represents the higher between the net fair value of intangible
assets less disposal fees and the present value of estimated future cash flow of intangible assets.
When the recoverable amount of intangible assets is less than their book value, the book value of
intangible assets should be written down to its recoverable amount, and the amount of write-down is
recognized as an intangible asset impairment losses, included in current profits and losses, and the
corresponding provision for depreciation should be accrued at the same time.
After the recognition of impairment losses of intangible assets, the Company should adjust accordingly
the depletion or amortization costs in future periods, so that during the remaining useful life, the
adjusted book value of intangible assets (less estimated net residual value) can be systematically
amortized.
The impairment losses of intangible assets will not be recovered in subsequent accounting periods after
the recognition.
If there are indications of a possible impairment of intangible assets, the company should estimate the
recoverable amount based on the individual intangible assets. In case that it’s difficult to estimate the
recoverable amount of the individual intangible assets, the Company determines their recoverable
amount based on the assets group to which the individual intangible assets belong.
2.17.4 Criteria for the division of research stage and development stage during internal R&D
Research stage: the stage during which original and planned investigation and research is carried out
with purpose of obtaining and understanding new scientific or technical knowledge
Development stage: the stage before the commercial production and utilization, during which the
research achievement or other knowledge is applied to a particular project or design in order to
produce new or substantially improved materials, devices, products, etc.SGSB GROUP CO.,LTD 2010 Interim Report
48
The expenses occurred during the research stage of internal R&D projects are accounted into currentperiod
profits and losses.
2.17.5 Criteria for the capitalization of R&D expenses
The expenses during the development stage of internal R&D projects are defined as intangible assets
when satisfying the following conditions:
a. The completion of such intangible assets for use or sale is technically feasible.
b. The Company has the intention to use or sell the intangible assets after their completion.
c. The method in which the intangible assets bring economic benefits shows that there exists
consumption market for the products with use of these intangible assets or the intangible assets
themselves, or that they are useful in case of internal utilization.
d. The Company has sufficient technological, financial and other resources to complete the R&D of
the intangible assets and the ability to make them available for use or sale.
e. The Company can measure in reliable way the expense of such intangible assets during the
development stage.
2.18 Payment to and for staff
2.18.1 Classification of payment to and for staff
The company's payment to and for staff is composed of wages, bonuses, allowances and subsidies;
employees’ benefits; medical insurance, pension insurance, unemployment insurance, work injury
insurance, maternity insurance and other social insurance premiums; housing provident funds; union
funds and employee education funding; non-monetary benefits; result of the dissolution of labor
relations with the staff for their compensation (termination benefits), etc.
2.18.2 Definition and calculation of payment to and for staff
The Company treats as liabilities the payment to and for staff during the periods in which the workers
provide services, and except the compensation for lifting the labor relations, treats respectively the
earning targets under the following circumstances:
(1) that should be carried by the production of goods and labor services, accounted into production or
labor service cost;
(2) that should be carried by the construction in progress and intangible assets, accounted into cost for
construction of fixed assets or intangible assets;
(3) except the above-mentioned remuneration, directly charged into current profits and losses.
If the State has stipulations about the accrual ratio of payment to and for staff, the Company adopts
these stipulations as guideline of accrual. If the State hasn’t such regulations, the Company estimates
the payment to and for staff from past experience and actual situation, in case that the real cost is more
or less than the estimated cost, the Company will supplement or return back the reserves.
If the company offers to its staff the self-owned products or housing, or rents free-of-charge the houses
for its staff, it should account respectively in accordance with the fair value of products, depreciation
or rent of each house, into self-production cost or current profits and losses dependent to the beneficial
objects.
2.18.3 Termination benefits
The company should determine the payment to and for staff and account into current profits and losses
according to its formal written plan or proposal that can’t be withdrawn unilaterally (including the
department, quantity, compensation standards, implementation time, etc.), in case that the Company
proposes a compensation for anticipating the termination of labor contract or encouraging the staff to
voluntarily cancel the contract.
For the voluntary layoff cases, the Company should estimate the quantity of employees accepting
layoffs, and accrue payable for staff according to the quantity and standards of compensation and in
line with the articles in "Accounting Standards for Enterprises No. 13 --- Contingent Items".SGSB GROUP CO.,LTD 2010 Interim Report
49
2.19 Debt reorganization
During report period, the Company determines the debt reorganization respectively under the
following circumstances:
2.19.1 The Company accounts the difference between the book value of reorganized debts and the
really payable cash into current profits and losses in case of cash settlement of debt.
2.19.2 The Company accounts the difference between the book value of reorganized debts and the
fair value of transferred non-cash assets into current profits and losses in case of covering the debts
with non-cash assets. And the difference between fair value and book value of transferred non-cash
assets also should be accounted into current profits and losses.
2.19.3 In case of conversion of debts into capital, the Company recognizes as capital (or paid-up
capital) the total facial value of the equity converted from the abandoned claims of creditors, and the
difference between fair value of equity and capital (or paid-up capital) should be determined as capital
reserves. The difference between book value of reorganized debts and the fair value of equity should
be included into current profits and losses.
2.19.4 On modification of other conditions about debts, the Company will adopt the fair value of
debts after modification as book value of reorganized debts. The difference between the book value of
reorganized debts and the book value after the reorganization will be accounted into current profits and
losses.
2.19.5 In case that the revised terms of debt is related to contingent payable, and such contingent
payable meets the conditions for confirming contingent liabilities in "Accounting Standards for
Enterprises No. 13 – Contingent Items", the Company should recognize as contingent liabilities such
contingent payable. The difference between the book value of reorganized debts and the book value
after reorganization plus the sum of contingent liabilities should be included into current profits and
losses. The contingent payable refers to the payable for the future situations whose occurrence is
considered with uncertainty.
2.19.6 When the debt reorganization is carried out with a combined package of cash settlement,
payment with non-cash assets, debt to capital, and modification of debts’ conditions, the Company will
write-off the book value of the reorganized debts in order of cash, non-cash assets, and fair value of
equity by creditors, and at last, treat them with the revised terms of debt.
2.20 Contingent liabilities
The company recognizes as contingent liabilities those matters involving the Company in litigation,
debt guarantees, loss of contracts and reconstruction, which are likely to require the Company to
deliver assets or provide services in future, and whose amount can be reliably measured.
2.20.1 Criteria of contingent liabilities
The obligations related to contingent items are defined as contingent liabilities when satisfying the
following conditions:
This obligation means a present obligation for the Company;
The fulfillment of this obligation is likely to lead to outflow of economic benefits of the Company;
The amount of this obligation can be reliably measured.
2.20.2 Measurement of contingent liabilities
The company accounts for initial measurement of contingent liabilities the best estimated amount of
expenditure to fulfill the related current obligations.
On defining the best estimated amount, the Company considers integrally the factors of risk,
uncertainty and currency related to contingent items. For the significant influence of currency’s time
value, the Company determines the best estimated amount through the discount of future cash outflows.SGSB GROUP CO.,LTD 2010 Interim Report
50
The best estimated amount is treated separately under the following circumstances:
There is a continuous range (or scope)of required expenditure among which the possibility for
occurring different results maintains the same, the best estimated amount should be defined by the
median, which means the average amount of upper and lower limits of the continuous range.
If it doesn’t exist a continuous range (or scope), or within the continuous range the possibility for
occurring different cases result in different situations, the best estimated amount should be defined by
the most possibly occurred amount when the contingent items are related to individual project, and be
defined by the combination of different possible results and their probabilities.
2.21 Revenue recognition
2.21.1 Criteria for the time definition of income from selling goods
No revenue from selling goods may be recognized unless the following conditions are met
simultaneously: the significant risks and rewards of ownership of the goods have been transferred to
the buyer by the enterprise; the enterprise retains neither continuous management right that usually
keeps relation with the ownership nor effective control over the sold goods; the relevant amount of
revenue can be measured in a reliable way; the relevant economic benefits may flow into the enterprise;
and the relevant costs incurred or to be incurred can be measured in a reliable way.
2.21.2 Basis for determining the income from transferring the right to use assets
When the economic benefits related to the transaction will be likely to flow to the Company and the
income amount can be reliably calculated. The treatment will be different in the following conditions:
2.21.2.1 The income of interests is determined on basis of the time and real interest rate of the
Company’s cash funds which is utilized by other persons.
2.21.2.2 The income of royalties is determined on basis of the chargeable time and method fixed in
relevant agreement or contract.
2.21.3 Basis and method to define the progress of contracted construction on determining the income
from rendering of labor services through percentage-of-completion method
If the Company can, on the date of the balance sheet, reliably estimate the outcome of a transaction
concerning the labor services it provides, it shall recognize the revenue from providing services
employing the percentage-of-completion method. An enterprise may adopt the measurement of the
work completed to ascertain the schedule of completion under the transaction concerning the providing
of labor services.
The Company determines the total revenue from labor services in accordance with the received or
receivable purchase price fixed by contract or agreement, except when the price is unfair. On balance
sheet date, the Company confirms current-period labor services income according to the total revenue
of labor services multiplied by the percentage of completion and less the accumulated determined
services revenues in previous periods. At the same time, the Company confirms current-period labor
services expenditure according to the total cost of labor services multiplied by the percentage of
completion and less the accumulated determined services expenditure in previous periods.
If an enterprise can’t, on the date of the balance sheet, measure the result of a transaction concerning
the providing of labor services in a reliable way, it shall be conducted in accordance with the following
circumstances, respectively:
(1) If the cost of labor services incurred is expected to be compensated, the revenue from the
providing of labor services shall be recognized in accordance with the amount of the cost of labor
services incurred, and the cost of labor services shall be carried forward at the same amount; or
(2) If the cost of labor services incurred is not expected to compensate, the cost incurred should
be included in the current profits and losses, and no revenue from the providing of labor services may
be recognized.SGSB GROUP CO.,LTD 2010 Interim Report
51
2.22 Government subsidies
2.22.1 Divisions of government subsidies
Government subsidies refer to the monetary and non-monetary assets that the company obtains free-ofcharge
from the Government. They are divided into asset-related government subsidies and benefitrelated
government subsidies.
2.22.2 Treatment of government subsidies
The government subsidies related to long-term assets such as acquisition & construction of fixed assets
and intangible assets are determined as deferred income, and accounted into corresponding-period nonoperating
income according to the service life of the acquisition & construction assets.
The government subsidies related to economic benefits, if for covering the relevant expenses or losses
in future periods, are determined as deferred income and accounted into current-period non-operating
income; if for covering the occurred expenses or losses in the past, are included directly into currentperiod
non-operating income.
2.23 Deferred income tax assets and liabilities
2.23.1 Basis for the determination of deferred income tax assets
The enterprise shall recognize the deferred income tax assets caused by deductible temporary
differences under the limits of the taxable income which is likely to obtain for deducting the deductible
temporary differences.
2.23.2 Basis for the determination of deferred income tax liabilities
The Company recognizes as deferred income tax liabilities the taxable temporary differences in current
and previous periods. However, the goodwill, transactions not formed from business combination and
whose occurrence will not impact accounting profits nor the taxable income or temporary differences
of deductible losses should not be included.
2.24 Changes in accounting policies and estimates
2.24.1 Changes in accounting policies
There are no changes in accounting policies for current period.
2.24.2 Changes in accounting estimates
There are no changes in accounting estimates for current period.
2.25 Correction of accounting errors in previous periods
2.25.1 Retroactive restatement method
At the end of period, there are no accounting errors in previous periods adopting retroactive
restatement method.
2.25.2 Prospective recognition method
At the end of period, there are no accounting errors in previous periods adopting prospective
recognition method.
3. Taxation
Important taxes and tax rates
Type Tax bases Tax rate
V.A.T. Sales turnover 17%
Business tax Business turnover 5%
Income tax Taxable income 25%, 22%SGSB GROUP CO.,LTD 2010 Interim Report
52
Note: the overseas subsidiaries employ the tax rates according to their countries’ tax law.
4. Merger of enterprises and consolidated of financial statements
Except specially noted, the monetary unit in this chapter is RMB’000.
4.1 About the subsidiaries
4.1.1 Subsidiaries acquired through foundation or investment
Invested entity
Type
Register place
Classification
Register capital
Business scope
Real investment at
year end
Other net investment
Equity proportion %
Voting share %
Consolidated or not
Minority interests
Write-down of
minority interests
Write-down of
owners’ equity
Shanghai
Shanggong
Automobile
Transport
Service Co.
Wholly-owned
subsidiary
Shanghai
Transport 2,100 Transport 2,100 100 100 Ye
s
Durkopp Adler
Trading
Shanghai Co.
Holding
subsidiary
Shanghai
Imp. &
Exp. of
sewing
machines
USD4,000,000
Wholesale,
broker and
Imp. & Exp.
of sewing
machines
USD1,600,000
USD1,360,000
40 74 Ye
s
4,049.0
-316.0
Shanghai
Shanggong
Butterfly
Sewing
Machine. Co.
Whollyowned
Shanghai
sewing
machines
79,000 M&E
products and
instruments
79,000 100 100 Ye
s
5,644.8
1000.1
Shanghai
Shuangchong
Sewing
Machines Co.
Holding
subsidiary
Shanghai
Sewing
machines,
etc.
12,000 Production
and
development
of overlock
sewing
machines
8,400 2,400 70 90 Ye
s
375.1
Shanghai
Shanggong
Sewing
Machines Co.
Wholly-owned
subsidiary
Shanghai
Industrial
investment
etc.
27,000 Management
consulting of
industrial
investment
27,000 100 100 Ye
s
Durkopp Adler
Industrial
Manufacturing
Shanghai Co.
Holding subsidiary
Shanghai
Sewing
machines,
etc.
USD1,000,000
Design,
production
and sales of
sewing
machines,
consulting
service
USD7,000,000
USD3,000,000
70 100 Ye
s
Shanghai
Shanggong
Jiayuan M&E
Co.
Holding
subsidiary
Shanghai
Sewing
machines,
etc.
3,000 Production
and sales of
sewing
machines and
components
2,010 150 67 72 Ye
s
1,947.7
-20.3
Shanghai
Suoying Real
Estate Co.
Holding
subsidiary
Shanghai
Real estate
developme
nt
13,000 Real estate
development
8,970 69 69 Ye
s
5,698.0
12.1SGSB GROUP CO.,LTD 2010 Interim Report
53
Shanghai
Industrial
Sewing
Machines
Materials
General Co.
Wholly-owned
subsidiary
Shanghai
Sewing
machines,
etc.
4,650 Sales of
sewing
machines and
components
4,650 100 100 No
Shanghai
Yongde Eco.
Development
Co.
Holding
subsidiary
Shanghai
Sales of
M&E
products,
etc.
2,000 Sales of
electro. and
mechanical
equipments
1,600 80 80 Ye
s
560.3
44.9
Shanghai Fuhua
Light Sewing
Machines Co.
Holding
subsidiary
Shanghai
Production
and sales
of apparel
machinery
USD1,000,000
Production
and sales of
apparel
machinery
USD550,000
55 55 Ye
s
2,846.8
601.9
Shanggong
(Europe)
Holding Co.
Wholly-owned
subsidiary
Germany
Sewing
machines,
etc.
EUR22,500,00
0
Sewing
machines,
etc.
EUR22,500,00
0
100 100 Ye
s
13,937.9
885.2
4.1.2 Subsidiaries acquired in business combinations under the same control
Invested entity
Type
Register place
Classification
Register capital
Business scope
Real investment at
year end
Other net investment
Equity proportion %
Voting share %
Consolidated or not
Minority interests
Write-down of
minority interests
Write-down of
owners’ equity
SMPIC
Waigaoqiao
Office Appa.
Co., Ltd.
Wholly-owned
subsidiary
Shanghai
Property
manageme
nt
8,620 Free Trade
Zone
Warehousing
8,620
100 100 Ye
s
SMPIC Great
Wall Number
Machine Co.,
Ltd.
Wholly-owned
subsidiary
Shanghai
Production
and sales
of number
machines
6,360 Production
and sales of
number
machines
6,360 100 100 Ye
s
SMPIC Imp. &
Exp. Co., Ltd.
Holding
subsidiary
Shanghai
Imp. &
exp. of
office
apparatus
5,000 International
trading of
merchants
and
technology
4,000 80 100 Ye
s
1,000
4.2 Changes in the consolidation of financial statements
In comparison with the last year, reduced two subsidiaries. The reason is that during the current period
the Company added capital to Shanghai Shanggong Butterfly Sewing Machine Co.,Ltd by 100% share
in Shanggong Imp. & Exp. Co.,Ltd and 80% share in Shanghai Butterfly Imp. & Exp. Co.,Ltd, and
mergedy by Shanghai Shanggong Butterfly Sewing Machine Co.,Ltd.
4.3 Newly included and excluded subsidiaries in current period
4.3.1 Currently excluded subsidiaries, specific objects, business entities under control for entrust or
rent operation
Company Net assets on disposal date Net profits from period beginning to dis
posal date
Shanghai Shanggong Imp. & Exp.
Co.,Ltd
1,326.17
Shanghai Butterfly Imp. &Exp. Co.,Ltd 4,233,11SGSB GROUP CO.,LTD 2010 Interim Report
54
4.4 Currency translation of overseas operations’ principal accounting items
The subsidiary Shanggong (Europe) Holding Co., Ltd. has Euros as the recording currency, so the
Company adopts the following currency translation and treatment method: for assets and liabilities in
balance sheet, the end-of-period exchange rate is 8.271, and beginning-of-period rate is 9.7971; for
income and costs in profit statement, current-period exchange rate is 8.271, and anterior-period rate is
9.6408; for all the items in owners’ equity, except "undistributed profits", the exchange rate is the spot
rate; and the difference of translation of financial statements is listed separately in balance sheet.
5. Important notes for consolidated financial statements
(All the following items adopt RMB’ and year-end data except those specially indicated.)
5.1 Cash and bank
Period-end Year-beginning
Item Original
currency
Exchange rate Amount to
RMB
Original
currency
Exchange rate Amount to
RMB
Cash
Renminbi 596,206.18 311,636.31
HKD 8,391.39 0.8724 7,320.65 1,537.10 0.8805 1,353.42
EUR 37,191.54 8.2710 307,611.23 31,903.81 9.7971 312,564.81
Subtotal cash 911,138.06 625,554.54
Bank
Renminbi 278,321,794.43 388,030,624.77
HKD 262,178.02 0.8724 228,724.10 561,447.48 0.8805 494,354.51
JPY 1.00 0.0737 0.07
USD 831,138.29 6.7909 5,644,177.01 515,107.63 6.8282 3,517,257.92
EUR
92,588.61
8.2710 765,800.39 10,633,267.83 9.7971 104,175,185.94
Subtotal bank 284,960,495.93 496,217,423.21
Other money-capitals
Renminbi 6,416,530.87 3,593,349.29
USD
EUR
Subtotal other moneycapitals
6,416,530.87 3,593,349.29
Total 292,288,164.86 500,436,327.04
Accounts with limited cashability:
(1) The credit line guaranty of EUR 1,389,965 of Shanggong (Europe) Holding Co., Ltd. has
been mortgaged to Deutsche Bank.
(2) The deposit certificate of EUR 672,708 of Shanggong Europe Holding Co., Ltd. has been
mortgaged to FAG Kugelfischer AG.
(3) The time certificate of RMB 12,582,000 has been mortgaged to Shenzhen Development Bank
Shanghai Branch.
The above-mentioned three items totally amounts to RMB 29,642,368.39 .
5.2 Trading financial assets
Period-end fair value Year-beginning fair value
Tradable bonds
Tradable equity instruments 44,200.00 70,290.00
Financial assets designated for
accounting at fair value andSGSB GROUP CO.,LTD 2010 Interim Report
55
included into current-period profits
and losses
Derivatives
Others 279,849.68 382,594.48
Total 324,049.68 452,884.48
5.3 Bills receivable
Type Period-end Year-beginning
Bank acceptance 2,840,040.00 7,752,100.00
Commercial acceptance
Total 2,840,040.00 7,752,100.00
5.4 Dividend receivable
Item Yearbeginning
Current
increase
Current
decrease
Period-end Reason for
receivable
Depreciation
or not
Dividend receivable with age less than one year 6,465,,162.65 6,465,,162.65 No
Including: SMPIC Optical Communication
Apparatus Co., Ltd.
6,465,,162.65 6,465,,162.65 No
Total 6,465,,162.65 6,465,,162.65
5.5 Accounts receivable
5.5.1 Composition of accounts receivable
Period-end Year-beginning
Type Balanc
e
Prop.
(%)
Provision for
bad debts
Provision
for bad
debts/prop.
Balance
Prop.
(%)
Provision for
bad
debts/prop.
Provision
for bad
debts/prop.
Accounts
receivable with
significant
individual amount
55,213,403.20 14.04 35,442,699.55 64.19 66,650,157.10 17.04 42,295,574.56 63.46
Accounts
receivable with
insignificant
individual amounts
but characterized as
risky portfolio
206,989,134.55 52.63 122,520,461.50 59.19 190,240,822.06 48.64 120,037,307.75 63.10
Other insignificant
accounts receivable
131,073,662.28 33.33 15,062,405.85 11.49 134,201,747.22 34.32 22,593,150.99 16.84
Total 393,276,200.03 100.00 173,025,566.90 391,092,726.38 100.00 184,926,033.30
5.5.2 End-of-period provision for bad debts of accounts receivable with significant individual amount
or insignificant individual amount but under impairment testing
Accounts receivable Book value Provision Accrual proportion (%) Reason
No. 1 client 29,072,565.00 29,072,565.00 100.00 Credit period expired
No.5 client 5,682,177.00 5,682,177.00 100.00 Credit period expiredSGSB GROUP CO.,LTD 2010 Interim Report
56
Other insignificant clients 131,073,662.28 15,062,405.85 11.49 Credit period expired
Total 165,828,404.28 49,817,147.85
Note: This item mainly refers to the accounts receivable of Shanggong (Europe) Holding Co., Ltd.,
which should receive individual impairment testing.
Accounts receivable with insignificant individual amounts but characterized as risky portfolio
Period-end Year- beginning
Balance Balance
Age
Sum Proportion (%)
Provision
Sum Proportion (%)
Provision
Within 1 year 85,751,743.92 41.43 4,287,587.20 69,552,443.46 36.56 3,480,501.95
1—2 years 1,463,960.59 0.71 292,792.12 3,802,063.66 2.00 760,412.72
2—3 years 3,666,695.72 1.77 1,833,347.86 2,179,843.76 1.15 1,089,921.90
Over 3 years 116,106,734.32 56.09 116,106,734.32 114,706,471.18 60.29 114,706,471.18
Total 206,989,134.55 100.00 122,520,461.50 190,240,822.06 100.00 120,037,307.75
5.5.3 Among the period-end accounts receivable, there are no obligators who holds individually 5%
or more equity of the Company.
5.5.4 Top five accounts receivable
Entity or rank Relation with the
Company
Sum Duration Proportion in total
accounts receivable (%)
No.1 client Third party 29,072,565.00 1—2 years 7.39
No.2 client Third party 7,958,216.25 Within 1 year 2.02
No.3 client Third party 6,699,510.00 Within 1 year 1.70
No.4 client Third party 5,800,934.95 Within 1 year 1.48
No.5 client Third party 5,682,177.00 Within 1 year 1.44
6. Other receivables
6.1.1 Composition of other receivables
Period-end Year-beginning
Balance
Prop.
(%)
Provision for bad
debts/prop.
Balance
Prop.
(%)
Provision for bad
debts/prop.
Other receivable with significant
individual amount
98,774,078.44 65.76
7,501,366.97
/7.59
129,360,088.61 73.31
11,730,633.58
/9.07
Other receivable with insignificant
individual amounts but characterized
as risky portfolio
37,715,182.57 25.11
31,503,903.40
/8.35
32,939,206.85 18.67
29,264,113.95
/88.84
Other insignificant other receivable 13,706,281.60 9.13 14,150,233.68 8.02
633,685.53
/4.48
Total 150,195,542.61 100.00 39,005,270.37 176,449,529.14 100.00 41,628,433.06
6.1.2 End-of-period provision for bad debts of other receivable with significant individual amount or
insignificant individual amount but under impairment testing
Accounts receivable Book value Provision Accrual proportion (%) Reason
Other insignificant receivables 13,706,281.60
Note: This item mainly refers to the export tax rebate receivable and other receivables of Shanggong
(Europe) Holding Co., Ltd., which should receive individual impairment testing.
Other receivables with insignificant individual amounts but characterized as risky portfolio
Period-end Year- beginning
Balance Balance
Age
Sum Proportion (%)
Provision
Sum Proportion (%)
ProvisionSGSB GROUP CO.,LTD 2010 Interim Report
57
Within 1 year 5,096,981.60 13.51 254,849.08 2,318,867.70 7.04 115,943.38
1—2 years 1,234,722.65 3.27 246,944.53 1,070,375.64 3.25 214,075.13
2—3 years 762,737.07 2.02 381,368.54 1,231,736.15 3.74 615,868.08
Over 3 years 30,620,741.25 81.20 30,620,741.25 28,318,227.36 85.97 28,318,227.36
Total 37,715,182.57 100.00 31,503,903.40 32,939,206.85 100.00 29,264,113.95
6.1.3 Among the period-end other receivables, there are no obligators who holds individually 5% or
more equity of the Company.
6.1.4 Top five other receivables
Entity or rank Relation with the
Company
Sum Duration Proportion in total other
receivables (%)
Contents
No.1 Third party 57,000,000.00 Within 1 year 37.95 From sale of land
No.2 Third party 27,953,602.36 Within 1 year 18.61 Export tax rebate
No.3 Third party 8,104,635.72 1-3 year 5.40 Current account
No.4 Third party 5,000,000.00 Within 1 year 3.33 From sale of land
No.5 Third party 715,840.36 Over 3 1 year 0.48 Current account
7. Prepayments
7.1.1 Analysis of age
Period-end Year-beginning
Age distribution Balance Proportion (%) Balance Proportion (%)
Within 1 year 26,334,733.40 92.90 29,767,964.34 84.59
1—2 years 824,873.80 2.91 5,376,537.95 15.28
2—3 years 1,164,579.63 4.11 29,422.96 0.08
Over 3 years 23,528.11 0.08 15,489.23 0.05
Total 28,347,714.94 100.00 35,189,414.48 100.00
7.1.2 Top five prepayments
Entity or rank Relation with the
Company
Sum Duration Contents
No.1 client Third party 3,954,213.44 Within 1 year
Not reaching contracted delivery date
No.2 client Third party 3,696,785.58 Within 1 year
Not reaching contracted delivery date
No.3 client Third party 1,201,113.30 Within 1 year
Not reaching contracted delivery date
No.4 client Third party 853,919.05 Within 1 year
Not reaching contracted delivery date
No.5 client Third party 630,000.00 1-3 yeasr
Not reaching contracted delivery date
Total 10,336,031.37
7.1.3 Among the year-end prepayments, there is no creditor who holds individually 5% or more
equity of the Company.
8. Inventories
8.1.1 Divisions of inventories
Period-end Year-beginning
Balance
Falling price
reserves
Book value Balance
Falling price
reserves
Book value
Raw materials 170,980,414.38 41,485,761.98 129,494,652.40 197,548,712.55 55,766,787.57 141,781,924.98
Materials in transit 6,940,186.50 6,940,186.50 8,812,261.13 8,812,261.13
Revolving materials 2,358,287.82 2,358,287.82 2,358,287.82 2,358,287.82
Goods in outside
processing
1,644,295.20 495,707.71 1,148,587.49 2,148,631.42 495,707.71 1,652,923.71
Products in
development 141,838,564.62 32,767,948.57
109,070,616.05 145,945,046.25 42,968,628.57 102,976,417.68
Stock commodity 114,266,266.61 35,162,845.77 79,103,420.84 130,464,925.39 39,706,951.32 90,757,974.07SGSB GROUP CO.,LTD 2010 Interim Report
58
Others 5,110,533.01 3,432,138.04 1,678,394.97 5,107,992.83 3,432,138.04 1,675,854.79
Total 443,138,548.14
113,344,402.0
7
329,794,146.07 492,385,857.39
142,370,213.2
1
350,015,644.18
8.1.2 Inventories falling price reserves
Year-beginning Current-period Current-period decrease
accrual Returns Settlements
Period-end balance
Raw materials 55,766,787.57 4,880,285.37 9,400,740.22 41,485,761.98
Materials in
transit
Revolving
materials
Goods in outside
processing
495,707.71 495,707.71
Products in
development
42,968,628.57
2,468,971.33 7,731,708.67
32,767,948.57
Stock commodity 39,706,951.32 487,490.51 824,492.77 4,207,103.29 35,162,845.77
Others 3,432,138.04 3,432,138.04
Total 142,370,213.21 487,490.51 8,173,749.47 21,339,552.18 113,344,402.07
9. Other current assets
Item Period-end Year-beginning
Rent and assurance 2,123,371.73 1,327,268.22
Total 2,123,371.73 1,327,268.22
10. Financial assets available for sale
10.1.1 Composition and classification
Year-end fair value Year-beginning fair value
(1) Bonds available for sale
(2) Equity instrument available for sale 5,927,759.85 7,105,317.57
(3) Others
Total 5,927,759.85 7,105,317.57
10.1.2 Information about the frozen stock equity at end of year
Stock equity Quantity of frozen shares Year-end fair value Year-beginning fair value
Shanghai Sanmao 658,830 5,758,174.20 6,384,062.70
SVA 28,989 169,585.65 197,994.87
11. Investment in associates and consortiums
RMB’000
Invested entity
Type
Register place
Legal
representative
Capital
Holding prop.
Voting prop.
Period-end assets
Period-end liabilities
Period-end net assets
Current turnover
Current net profits
Consortium
Changshu Qixing
Electric-plating
Hardware Co.
Limited
corporation
Changshu
Production of
elec-plating
hardware,
etc.
Wang Mujiong
2,800.0
90%
90%
4,655.2
2,541.5
2,113.7SGSB GROUP CO.,LTD 2010 Interim Report
59
Shanghai Huazhijie
Plastic Co.
Limited
corporation
Shanghai
Production of
chemical
products
Dai Siwei
USD7,640,000
25%
25%
5.457.2
2,512.1
2,945.1
12. Long-term equity investment
Company
Accounting method
Initial investment
Year-beginning
Current change
Period-end
Holding prop.
Voting prop.
Explanation
Provision
Current accrual
Cash dividend
SMPIC Optical
Communication
Equity
method
510,000.00 917,111.56 -917,111.56
Changshu Qixing
Elec-plating
Equity
method
2,520,000.00 1,902,344.80 1,902,344.80 90 90
Shanghai
Huazhijie Plastic
Equity
method
1,766,689.38 736,283.66 736,283.66 25 25
Subtotal for equity
method
3,555,740.02 -917,111.56 2,638,628.46
Shanghai
Xingguang
Underwear (South
Africa)
Cost
method 308,033.99 308,033.99 308,033.99 14.3 14.3 308,033.99
Shanghai Shensi
Enter.
Development
Cost
method 7,944,827.59 7,944,827.59 7,944,827.59 10.59 10.59
Wuxi Shanggong
Sewing Machines
Cost
method
153,814.26 153,814.26 153,814.26 80 80 153,814.26
Shanghai Hualian
Sewing Machinery
Cost
method
400,000.00 400,000.00 400,000.00 21.74 注
Shanghai Fuji-
Xerox
Cost
method
29,140,749.49 29,140,749.49 29,140,749.49 15.92 15.92 6,465,162.65
Shanghai
Shanggong
Jiarong
Cost
method 500,000.00 500,000.00 500,000.00 12.5 12.5 500,000.00
Shanghai Nandie
Sewing Machinery
Cost
method
285,000.00 285,000.00 285,000.00 19 19 285,000.00
Shanghai Baoding
Investment
Cost
method
7,500.00 7,500.00 7,500.00 <5 <5
Bank of Shanghai
Caoxi Credit
Union
Cost
method 551,400.00 551,400.00 551,400.00 <5 <5 273,372.00
China Perfect
Machinery
Cost
method
90,000.00 90,000.00 90,000.00 <5 <5
Shenyin &
Wanguo
Securities
Cost
method 200,000.00 200,000.00 200,000.00 <5 <5
Shanghai Hirose
Precision
Industrial
Cost
method 2,840,376.00 30 注 750,000.00
Shanghai Baochi
Great Wall Digital
Printing
Cost
method 1,000,000.00 1,029,806.57 1,029,806.57 8.2 8.2 445,230.91
Shanghai
Industrial Sewing
Machines
Materials
Cost
method 4,600,000.00 4,600,000.00 4,600,000.00 100 100 932,718.43
Subtotal for cost
method
45,211,131.90 45,211,131.90 2,624,797.59 7,488,534.65
Total 48,766,871.92
-------
917,111.56
47,849,760,.36 2,624,797.59 7,488,534.65
Note: The Company doesn’t participate in the decision or operation of Shanghai Hualian Sewing
Machines Co., Ltd., Shanghai Hirose Precision Industrial Co., Ltd., nor realizes significant influence
upon the invested entities. This is the reason for adopting cost method.SGSB GROUP CO.,LTD 2010 Interim Report
60
13.Investment real estate
Item Year-beginning Current increase Current decrease Period-end
1. Origina
l cost
203,807,627.23 9,220,577.19 194,587,050.04
1 Buildings 152,124,865.59 9,220,577.19 142,904,288.40
b. Land use right 51,682,761.64 51,682,761.64
2. Accumulated depreciation or
amortization
57,304,847.99 2,632,064.39 2,715,728.55 57,221,183.83
1. Buildings 50,718,856.08 1,995,135.71 2,715,728.55 49,998,263.24
b. Land use right 6,585,991.91 636,928.68 7,222,920.59
3. Net value of investment real estate 146,502,779.24 -2,632,064.39 6,504,848.64 137,365,866.21
一、Buildings 101,406,009.51 -1,995,135.71 6,504,848.64 92,906,025.16
b. Land use right 45,096,769.73 -636,928.68 44,459,841.05
4. Accumulated provision for investment
real estate
9,708,906.31 1,512,362.02 8,196,544.29
二、Buildings 9,708,906.31 1,512,362.02 8,196,544.29
b. Land use right
5. Total book value of investment real
estate
136,793,872.93 -2,632,064.39 4,992,486.62 129,169,321.92
一、Buildings 91,697,103.20 -1,995,135.71 4992,486.62 84,709,480.87
b. Land use right 45,096,769.73 -,636,928.68 44,459,841.05
Note: The current-period depreciation and amortization is of RMB 2,632,064.39.
Among the above-mentioned year-end balance of investment real estate, some properties have been
mortgaged to the banks. Details are disclosed in mortgage assets column.
14. Fixed assets at cost and accumulated depreciation
14.1 Original cost of fixed assets
Year-beginning Increase Decrease Year-end
1. Total original cost: 1,503,886,697.67 14,491,513.89 196,697,004.27 1,321,681,207.29
Including: plants & constructions 494,853,114.57 6,588,146.00 67,273,093.27 434,168,167.30
Equipment and machines 663,388,604.60 5,041,570.89 80,080,784.30 588,349,391.19
Transport vehicles 25,429,011.06 855,211.89 1,290,932.16 24,993,290.79
Electric equipment 12,716,756.11 15,143.67 488,086.17 12,243,813.61
Fixture for fixed assets 867,060.40 2,280.00 864,780.40
Others 306,632,150.93 1,991,441.44 47,561,828.37 261,061,764.00
2. Total accumulated depreciation: 1,046,466,442.30 23,928,785.27 146,820,315.07 923,574,912.50
Including: plants & constructions 242,752,714.14 9,122,905.00 35,418,966.48 216,456,652.66
Equipment and machines 503,160,783.73 8,503,677.87 66,603,939.68 445,060,521.92
Transport vehicles 12,933,941.01 1,017,629.92 836,024.53 13,115,546.40
Electric equipment 7,588,554.81 212,010.49 405,574.77 7,394,990.53
Fixture for fixed assets 591,613.93 64,182.48 2,280.00 653,516.41
Others 279,438,834.68 5,008,379.51 43,553,529.61 240,893,684.58
3. Total net book value: 457,420,255.37 -9,437,271.38 49,876,689.20 398,106,294.79
Including: plants & constructions 252,100,400.43 -2,534,759.00 31,854,126.79 217,711,514.64
Equipment and machines 160,227,820.87 -3,462,106.98 13,476,844.62 143,288,869.27
Transport vehicles 12,495,070.05 -162,418.03 454,907.63 11,877,744.39
Electric equipment 5,128,201.30 -196,866.82 82,511.40 4,848,823.08
Fixture for fixed assets 275,446.47 -64,182.48 0.00 211,263.99
Others 27,193,316.25 -3,016,938.07 4,008,298.76 20,168,079.42
4. Total provision for depreciation: 75,180,518.48 30,090.63 75,150,427.85SGSB GROUP CO.,LTD 2010 Interim Report
61
Including: plants & constructions 4,913,777.92 4,913,777.92
Equipment and machines 70,198,101.93 70,198,101.93
Transport vehicles
Electric equipment
Fixture for fixed assets
Others 68,638.63 30,090.63 38,548.00
5. Total book value of fixed assets: 382,239,736.89 -9,437,271.38 49,846,598.57 322,955,866.94
Including: plants & constructions 247,186,622.51 -2,534,759.00 31,854,126.79 212,797,736.72
Equipment and machines 90,029,718.94 -3,462,106.98 13,476,844.62 73,090,767.34
Transport vehicles 12,495,070.05 -162,418.03 454,907.63 11,877,744.39
Electric equipment 5,128,201.30 -196,866.82 82,511.40 4,848,823.08
Fixture for fixed assets 275,446.47 -64,182.48 0.00 211,263.99
Others 27,124,677.62 -3,016,938.07 3,978,208.13 20,129,531.42
The current-period depreciation of fixed assets is of RMB 20,337,885.27.
The current-period transfer from construction in progress into fixed assets at cost is of RMB
758,416.89.
Among the period-end fixed assets balance, some of the plants & constructions, equipment and
machines were mortgaged to bank for borrowings. Details disclosed in the column of mortgage assets.
14.2 Fixed assets actually without certificate of title
Classification Book value Reason for not obtaining certificate of title Estimated time for
obtaining certificate
Plants & constructions 735,002.62 Self-developed construction, formalities in process
Total 735,002.62
15. Construction in progress
Period-end balance Year-beginning balance
Balance Depreciation
provision
Book value Balance Depreciation
provision
Book value
Sewing machinery
project
494,512.17 494,512.17 370,894.99 370,894.99
ERP project 1,036,542.50 1,036,542.50 1,036,542.50 1,036,542.50
Electric equipment 121,966.92 121,966.92
Equipment and
machines
187,946.63 187,946.63 360,771.56 360,771.56
Total 1,719,001.30 1,719,001.30 1,890,175.97 1,890,175.97
16. Intangible assets
16.1 Information about intangible assets
Item Year-beginning Current increase Current decrease Year-end
1. Original cost 99,686,921.00 88,819.29 17,583,844.32 82,191,895.97
Land use right 35,877,662.90 35,877,662.90
Trademark right 20,161,268.51 20,161,268.51
Computer software 175,650.00 175,650.00
Patents and specialized technology 43,330,591.39 84,721.00 17,583,844.32 25,831,468.07
Others 141,748.20 4,098.29 145,846.49
2. Accumulated amortization 53,470,373.54 2,808,771.67 17,385,762.62 38,893,382.59
Land use right 5,257,289.25 571,355.37 5,828,644.62
Trademark right 17,137,077.58 1,008,063.36 18,145,140.94
Computer software 43,912.50 8,782.50 52,695.00
Patents and specialized technology 30,994,656.32 1,213,312.32 17,385,762.62 14,822,206.02SGSB GROUP CO.,LTD 2010 Interim Report
62
Others 37,437.89 7,258.12 44,696.01
3. Book value 46,216,547.46 -2,719,952.38 198,081.70 43,298,513.38
Land use right 30,620,373.65 -571,355.37 30,049,018.28
Trademark right 3,024,190.93 -1,008,063.36 2,016,127.57
Computer software 131,737.50 -8,782.50 122,955.00
Patents and specialized technology 12,335,935.07 -1,128,591.32 198,081.70 11,009,262.05
Others 104,310.31 -3,159.83 101,150.48
4. Accumulated provision for
depreciation
Land use right
Trademark right
Computer software
Patents and specialized technology
Others
5. Book value of intangible assets 46,216,547.46 -2,719,952.38 198,081.70 43,298,513.38
Land use right 30,620,373.65 -571,355.37 30,049,018.28
Trademark right 3,024,190.93 -1,008,063.36 2,016,127.57
Computer software 131,737.50 -8,782.50 122,955.00
Patents and specialized technology 12,335,935.07 -1,128,591.32 198,081.70 11,009,262.05
Others 104,310.31 -3,159.83 101,150.48
The current-period amortization amounts to RMB 2,808,771.67.
Among the period-end intangible assets balance, land use right was partially mortgaged to bank for
borrowings. Details disclosed in the column of mortgage assets.
16.2 Expenses of R&D projects
Item Year-beginning Current Current transfer-out
increase Current profits
and losses
Defined as
intangible assets
Year-end
Expenses in R&D stage 54,761,596.82 9,255,249.00 8,309,382.73 8,530,245.98
Total 54,761,596.82 9,255,249.00 8,309,382.73 8,530,245.98
17. Business reputation (Goodwill)
Invested entity Year-beginning Current increase Current decrease Period-end Provision
Beisler GmbH 28,544,830.56 4,446,444.96 24,098,385.60
Total 28,544,830.56 4,446,444.96 24,098,385.60
The increase of current-period business reputation is mainly due to the currency translation difference
of Shanggong (Europe) Holding Co., Ltd.
18. Deferred tax, assets and liabilities
Recognized deferred tax assets
Item Period-end Year-beginning
Deferred tax, assets:
Depreciation reserves 14,310,573.03 14,848,592.83
Carrying back operational loss 20,292,694.84 23,676,675.99
Subtotal 34,603,267.87 38,525,268.82
Deferred tax, liabilities:
Assets appraisal evaluation 13,704,070.32 14,201,312.07
Others 13,930,700.31 16,526,592.99
Subtotal 27,634,770.63 30,727,905.06SGSB GROUP CO.,LTD 2010 Interim Report
63
19.Provision for assets impairment
Year beginning Currently accrued Decrease in current year
Write-back Write-off and others
Period-end
balance
For bad debts 226,554,466.36 2,364,553.50 6,867,079.49 10,021,103.10 212,030,837.27
For decline of
value in inventories
142,370,213.21 487,490.51 8,131,865.57 21,381,436.08 113,344,402.07
For long-term
equity investment
2,624,797.59 2,624,797.59
For investment real
estate
9,708,906.31 1,512,362.02 8,196,544.29
For fixed assets 75,180,518.48 30,090.63 75,150,427.85
Total 456,438,901.95 2,852,044.01 14,998,945.06 32,944,991.83 411,347,009.07
20.Short-term borrowings
20.1Classification of short-term borrowings
Category Period-end Year-beginning
Mortgage loans 115,339,883.95 146,000,000.00
Secured borrowings 115,600,000.00 100,600,000.00
Credit borrowings 40,348,148.62 40,348,148.62
Total 271,288,032.57 286,948,148.62
20.2 The Company mortgaged some assets to the banks in change of RMB 115,339,883.95. Details are disclosed in the
column of Mortgaged Assets.
20.3The secured borrowings amount to RMB 115,600,000.00, secured by Shanghai Pudong Development
(Group) Co., Ltd. Details disclosed in the column of Mortgaged Assets.
21.Bills payable
Period-end Year-beginning
Bank acceptance bill 2,808,428.76
Commercial acceptance bill 2,808,428.76
Total
22.Accounts payable
Period-end Year-beginning
112,124,176.68 137,481,885.22
(1) Among the year-end balance, there are no accounts payable to creditor who holds individually
5% or more equity of the Company.
(2) Among the year-end balance, there are no accounts payable to affiliated parties.
23.Advance receipts
Period-end Year-beginning
81,393,759.50 40,261,334.94
(1) Among the year-end balance, there are no advances to creditor who holds individually 5% or
more equity of the Company.
(2) There are no advance receipts related to affiliated parties.
24.Wages and salaries unpaid
Year-beginning Current increase Current decrease Period-end
1. Salary, bonus and subsidies 28,721,460.72 157,248,847.39 173,747,365.36 12,222,942.75
2. Employee welfare 26,725,613.75 26,725,613.75
3. Social insurance 200,276.80 8,681,296.70 8,798,239.80 83,333.70SGSB GROUP CO.,LTD 2010 Interim Report
64
4. Housing accumulation funds 1,800.00 1,913,500.00 1,915,300.00
5. Labor union and staff education
expenditure
467,265.85
417,272.17 408,942.40
475,595.62
7. Compensation for the cancellation
of labor relationship
126,592,540.80
1,319,168.18 58,062,428.50
69,849,280.48
8.Others 150,202.56 1,032,198.28 1,032,198.28 150,202.56
Total 156,133,546.73 197,337,896.47 270,690,088.09 82,781,355.11
The period-end balance is mainly composed of staff pension, staff bonus reserves, termination benefits
and compensation for cancellation of labor relationship accrued by Shanggong Europe Holding Co.,
Ltd. according to local laws of the subsidiary’s residential country.
25.Tax unpaid
Tax type Period-end Year-beginning
V.A.T. 151,113.88 -103,675.52
Corporate income tax 97,849.27 159,878.70
Individual income tax -944,799.95 -2,033,945.59
Tax on city maintenance and construction 3,890,636.76 8,660,704.40
Property tax 91,588.62 104,601.36
Land appreciation tax 157,772.64 113,701.00
Educational surtax
Housing property tax 34,910.52 40,487.41
Stamp duty 31,979.00 31,979.00
Embankment maintenance surtax 5,951.14
River maintenance surtax 9,239.59 3,414.78
Others 845.38 845.34
Total 3,521,135.71 6,983,942.02
The foreign subsidiaries employ the local legal tax rate at their residential countries.
26.Other payables
Period-end Year-beginning
Total 129,990,327.21 277,037,653.23
(1) Among the year-end balance, there are no payables to creditor who holds individually 5% or
more equity of the Company.
(2) Among the year-end balance, there are no payables to affiliated parties.
27.Contingent liabilities
Item Year-end Current increase Current decrease Year-beginning
External guarantee 35,546,274.60 35,546,274.60
Pension 376,110,669.00 64,343,509.15 311,767,159.85
Others 11,855,564.66 2,104,193.62 9,751,371.04
Total 423,512,508.26 66,447,702.77 357,064,805.49
(1) The pension refers to the staff pension program of Durkopp Adler AG according to the
regulations of Germany.
(2) The external guarantee refers to the contingent liabilities formed from the guarantee for
Shanghai Worldbest Enterprise Development Co., Ltd. The Board of Directors has decided to accrue
contingent liabilities in the fiscal year of 2008.
28.Non-current liabilities due within one year
Item Period-end Year-beginning
Long-term loans 520,000.00 520,000.00
Total 520,000.00 520,000.00SGSB GROUP CO.,LTD 2010 Interim Report
65
29.Other current liabilities
Period-end Year-beginning
Interest and rent 280,230.99 700,031.40
Total 280,230.99 700,031.40
The year-beginning and period-end balance attributes to the interest and rent prepaid to the subsidiary
of the Company Shanggong (Europe) Holding Co., Ltd.
30.Long-term loans
Period-end Year-beginning
Credit borrowings 1,489,984.87 1,489,984.87
Total 1,489,984.87 1,489,984.87
31.Long-term payable
Information about principal period-end long-term payable:
Unit Duration Initial amount Interest rate Interest payable Period-end
balance
Borrowing
conditions
South China Development
(H.K.) Limited
2009/12/22-
2011/12/21
USD3,000,000.0
0
3.00% 20,484,568.35 Credit
borrowing
32.Stock capital
Year-beginning Current-period increase/decrease
Ration
shares
Bonu
s
share
s
Shares by
public
reserve
Other Total
Period-end
1. Shares subject to
conditional sales
1) State-owned shares
2) Shares owned by state
legal entities
3) Shares owned by other
domestic investors
Including:
By domestic legal entities
By domestic natural
persons
4) Shares owned by
foreign investors
Including:
By foreign legal entities
By foreign natural
persons
Subtotal shares subject to
conditional sales
2. Unconditionally
tradable shares
1) Tradable A shares 204,943,027.00
204,943,027
.00
2) Tradable B shares 243,943,750.00
243,943,750
.00
3)Tradable shares listed
abroadSGSB GROUP CO.,LTD 2010 Interim Report
66
4)Others
Subtotal tradable shares 448,886,777.00
448,886,777
.00
Total equities 448,886,777.00
448,886,777
.00
.
33.Capital reserves
Item Year-beginning Current increase Current decrease Period-end
1.Capital stock premium 313,159,549.73 313,159,549.73
2.Changes in fair value 4,734,657.57 654,297.72 4,080,359.85
3.Other capital reserves 79,274,261.25 3,327,311.88 75,946,949.37
Total 397,168,468.55 3,981,609.60 393,186,858.95
The decrease of capital reserves in current period is mainly due to the changes in the profits and losses
from fair value of financial assets available for sale and the capital reserve of subsidiaries under equity
method.
34.Surplus reserves
Item Year-beginning Current-year increase Current-year decrease Period-end
Statutory surplus reserve 2,273,121.26 2,273,121.26
Free surplus reserve 2,273,121.26 2,273,121.26
Total 4,546,242.52 4,546,242.52
35.Undistributed profits
Item Year-end balance Accrued or distributed pr
oportion
Before adjustment, anterior year-end balance -282,061,908.47
Adjustment, beginning balance of report period
After adjustment, beginning balance of report period -282,061,908.47
Add: current-year net profit of parent company 3,662,614.03
Less: statutory surplus reserve
free surplus reserve
payable common stock dividend
End of year undistributed profits -278,399,294.44
36.Operating income and cost
36.1Principal operating income
Current period Previous period
Principal operating income 835,709,947.05 735,028,453.93
Other operating income 19,291,920.79 19,353,585.16
Operating cost 685,456,147.32 667,761,921.44
36.2Principal operations, by business sectors
Current period Previous period
Income Expense Income Expense
1. Industrial operations 613,988,623.10 519,927,235.53 558,732,038.79 490,794,299.97
2. Commercial operations 219,094,257.27 156,167,374.93 173,230,274.42 170,123,756.20
3. Others 2,627,066.68 1,135,217.07 3,066,140.72 1,330,277.83
Total 835,709,947.05 677,229,827.53 735,028,453.93 662,248,334.00
36.3Principal operations, by productsSGSB GROUP CO.,LTD 2010 Interim Report
67
Current period Previous period
Income Expense Income Expense
Sewing machines 523,987,756.42 402,394,636.57 420,782,498.62 384,747,614.76
International trading 122,012,491.11 119,877,687.16 111,189,090.34 108,583,798.01
Material transmission
equipment
115,736,103.00 89,872,686.00 137,429,604.00 110,464,286.40
Office supplies 12,153,562.62 11,132,938.33 13,853,547.22 13,097,914.79
Film equipment 59,192,967.22 52,816,662.40 49,123,161.03 44,351,654.01
Others 2,627,066.68 1,135,217.07 2,650,552.72 1,003,066.03
Total 835,709,947.05 677,229,827.53 735,028,453.93 662,248,334.00
36.4Principal operations, by regions
Current period Previous period
Income Expense Income Expense
Home 472,519,665.09 437,279,912.31 424,170,664.35 399,357,875.23
Abroad 410,307,907.28 287,067,540.54 353.376.589.28 305,409,258.47
Less: offset of internal transactions
in the Company
47,117,625.32 47,117,625.32 42,518,799.70 42,518,799.70
Total 835,709,947.05 677,229,827.53 735,028,453.93 662,248,334.00
The Company classifies subsidiaries at home and abroad by their register locations.
36.5Principal operating income from the top five clients of the Company
Entity or rank Operating income Proportion (%)
No.1 client 75,605,871.71 8.84
No.2 client 39,754,889.68 4.65
No.3 client 36,174,370.98 4.23
No.4 client 32,505,030.00 3.80
No.5 client 18,171,387.00 2.13
37.Business tax and extra charges
Current period Previous period
Business tax 758,493.30 853,128.53
Tax on city maintenance and construction 100,888.76 218,378.70
Educational surtax 59,508.18 93,590.90
Others 811,202.85 1,096,350.83
Total 1,730,093.09 2,261,448.96
38.Income from changes in fair value
Sources of income from changes in fair value Current period Previous period
Tradable financial assets -82,143.59 872,969.06
Among which: income from changes in fair
value of derivatives
Tradable financial liabilities
Investment real estate at fair value
Total -82,143.59 872,969.06
39.Investment income
39.1Detailed information about investment incomeSGSB GROUP CO.,LTD 2010 Interim Report
68
Item Current period Previous period
Long-term equity investment by cost method 7,488,534.65 15,163,686.35
Long-term equity investment by equity method
From disposal of long-term equity investment -130,311.56
From disposal of tradable financial assets 90,714.22 83,559.33
From financial assets available for sale 360,483.16 103,950.00
Others
Total 7,809,420.47 15,351,195.68
There are no significant restrictions over the inflow of investment earnings.
39.2By cost method
Invested entity Current period Previous period Reason for increase/decrease
Shanghai Fuji-Xerox Co., Ltd.
6,465,162.65 11,637,292.77 Decrease of cash distribution of
profits
Shanghai Shensi Enterprise Development Co. 2,776,393.58
No distribution during this period
Shanghai Hirose Precision Machinery Co., Ltd. 750,000.00 750,000.00
Total
40.Assets depreciation loss
Current period Previous period
Loss in bad debts -4,502,525.99 -525,607.61
Loss in inventory devaluation -7,644,375.06 -279,603.63
Total -12,146,901.05 -805,211.24
41.Financial expense
Type Current period Previous period
Interest expenses 16,258,362.57 30,954,240.27
Less: interest income 1,360,815.46 2,109,730.61
Exchange loss -143,224.07 519,225.33
Others 981,900.29 1,318,743.94
Total 15,736,223.33 29,644,028.27
42.Non-operating income
42.1Detailed information about non-operating income
Current period Previous period
Gains from disposal of non-current assets 10,448,334.70 813,631.96
Among which: disposal of fixed assets and intangible assets 10,448,334.70 813,631.96
Gains from non-monetary assets transaction
Gains from debts reorganization
Gains from reception of donation
Government subsidy 967,681.00 152,800.00
Amercement income and liquidated damages
Others 5,505,138.43 379,123.32
Total 16,921,154.13 1,345,555.28
.
42.2Detailed information about government subsidy
Project Current period Previous period Explanation
Subsidy for R&D offered by Pudong New Area Scientific &
Technological Development Foundation
38,500.00SGSB GROUP CO.,LTD 2010 Interim Report
69
Special funds for accelerating the building of self-owned brands of
Shanghai
924,181.00 147,800.00
Trademarks subsidy 5,000.00 5,000.00
Total 967,681.00 152,800.00
43.Non-operating expense
Current period Previous period
Losses from disposal of non-current assets 2,424,333.92 329,952.27
Among which: disposal of fixed assets 2,424,333.92 329,952.27
disposal of intangible assets
Expense in donations
Including: charitable donations
Amercement and fines 3,728.25
Compensation expense
Others 122,660.27 1,890,703.01
Total 2,550,722.44 2,220,655.28
44.Income tax expense
Item Current period Previous period
Current income tax expense 1,810,786.65 973,638.14
Deferred income tax expense 726,542.84 98,260.09
Total 2,537,329.49 1,071,898.23
45.Calculation process of basic earning per share and diluted earning per share
Current period Previous period
Basic earning per share 0.0082 -0.2928
Diluted earning per share 0.0082 -0.2928
Basic earning per share
Basic earning per share=P0/S
S=S0+S1+Si*Mi/M0-Sj*Mj/M0-Sk
P0 represents the net profit attributable to common shareholders or the net profit attributable to
common shareholders after non-current profits and losses. S means the weighted mean of common
equity publicly issued. S0 is the year-beginning equity number, S1 the added part of equity by
capitalization of capital reserves or bonus shares, Si the added shares by newly issuance or debt-toequity
program, Sj the decreased part of equity by buying-back in report year, and Sk means the
number of shrunk shares. M0 means the number of months of report year, Mi the number of months
from the next one after newly-issued shares to the end of report year, and Mj the number of months
from the next one after newly-decreased net assets to the end of report year.
In case the enterprise owns dilutive potential common shares, it shall adjust respectively the current net
profit attributable to common shareholders and the weighted mean of common shares, and calculate on
thus basis the diluted earning per share.
Diluted earning per share
Diluted earning per share=P1/(S0+S1+Si*Mi/M0-Sj*Mj/M0-Sk+stock right warrants, stock option,
convertible bonds and other newly-added weighted mean of common shares)
P1 represents the net profit attributable to common shareholders or the net profit attributable to
common shareholders after non-current profits and losses, and adjusted according to and relevant regulations with consideration of the influence from dilutive
potential common shares. On calculating the diluted earning per share, the Company should consider
all the influences of dilutive potential common shares upon the net profit attributable to commonSGSB GROUP CO.,LTD 2010 Interim Report
70
shareholders or the net profit attributable to common shareholders after deduction of non-current
profit/loss, and according to the order of their dilution ranks, account them into diluted earning per share till the minimum.
46.Other comprehensive income
Current period Previous period
1. Profit (loss) from financial assets available for sale -654,297.72 2,150,606.73
Less: income tax impact by financial assets available for sale
Transfer into current profits and losses from previously accounted into other
comprehensive income
Subtotal -654,297.72 2,150,606.73
2. Shared benefits in invested entities’ other comprehensive income by equity method -7,203,568.65 7,179,972.07
Less: income tax impact upon invested entities’ other comprehensive income by equity
method
Transfer into current profits and losses from previously accounted into other
comprehensive income
Subtotal -7,203,568.65 7,179,972.07
3. Profit (loss) from cash flow hedge instruments
Less: income tax impact by cash flow hedge instruments
Transfer into current profits and losses from previously accounted into other
comprehensive income
Adjustment of initial investment in hedging projects
Subtotal
4. Foreign exchange translation difference -31,858,148.38 -684,160.51
Less: transfer into current profits and losses from disposal of overseas operations
Subtotal -31,858,148.38 -684,160.51
5. Others
Less: income tax impact by other items accounted into other comprehensive income
Transfer into current profits and losses from previously accounted into other
comprehensive income
Subtotal
Total -39,716,014.75 8,646,418.29
47.Attachment of cash flow statement
47.1Other cash inflow related to operating activities
Item Current year
Receipt of current account 8,157,152.83
Specific subsidies 924,181.00
Interest income 1,360,815.46
Non-operating income 52,414.00
Total 10,494,563.29
47.2Other cash outflow related to operating activities
Item Current year
Current account 14,142,835.26
Sales expenditure 29,201,596.49
Admin. expenditure 16,518,461.89
Non-operating expense 126,388.52
Bank charges 409,161.43
Total 60,398,443.59
47.3Other cash outflow related to investing activitiesSGSB GROUP CO.,LTD 2010 Interim Report
71
Item Current year
Reduction in scope of consolidation 10,586.88
Total 10,586.88
48.Supplements of cash flow statement
48.1Supplements of cash flow statement
Item Current period Previous year
1.Net profits converted into cash flow from operating activities
Net profits 5,870,407.29 -141,619,706.40
Add: provision for assets depreciation -12,146,901.05 -805,211.24
Depreciation of fixed assets, of oil/gas assets and productive biological assets 22,969,949.66 24,021,831.65
Amortization of intangible assets 11,118,154.40 13,168,411.12
Amortization of long-term deferred expenses 140,504.09
Losses in disposal of fixed assets, intangible and other long-term assets (less:
income)
-8,024,000.78 -803,925.03
Losses on scrapping of fixed assets (less: income) 320,245.34
Losses on changes in fair value (less: income) 82,143.59 -872,969.06
Financial expense (less: income) 16,115,138.50 31,753,758.88
Investment loss (less: income) -7,809,420.47 -15,351,195.68
Decrease in deferred income tax assets (less: increase) 3,922,000.95 695,511.48
Increase in deferred income tax liabilities (less: decrease) -3,093,134.43 1,383,633.36
Decrease of inventories (less: increase) 49,247,309.26 40,877,140.83
Decrease in receivables under operating activities (less: increase) -17,070,653.17 -18,010,581.38
Increase in payables under operating activities (less: decrease) -141,139,281.03 -22,043,003.52
Others
Net cash flows from operating activities -79,958,287.28 -87,145,555.56
2.Investing and financing activities that do not involve cash receipts and payments
Conversion of debt into capital
Convertible bonds to be expired within one year
Fixed assets under finance lease
3.Net increase in cash and cash equivalents
Cash at the end of period 262,645,796.47 279,543,022.77
Less: Cash at the beginning of period 467,658,653.68 353,799,316.68
Plus: Cash equivalents at the end of period
Less: Cash equivalents at the beginning of period
Net increase in cash and cash equivalents -205,012,857.21 -74,256,293.91
48.2Composition of cash and cash equivalents
Period-end Year-beginning
1.Cash 262,645,796.47 467,658,653.68
Including: cash on hand 911,138.06 625,554.54
Bank deposit immediately available for payment 255,318,127.54 463,439,749.85
Other monetary fund immediately available for payment 6,416,530.87 3,593,349.29
Deposit in Central Bank available for payment
Deposit in other banks
Borrowing from other banks
2.Cash equivalents
Including: investment in bonds to be expired within three months
3.Period-end cash and cash equivalents 262,645,796.47 467,658,653.68
The cash and cash equivalents of the Company and its consolidated subsidiaries whose use is under
limited restriction are not included in the cash and cash equivalents.
6.Affiliated parties and affiliated transactions
(1) Profile of the parent of the Company
RMB’000SGSB GROUP CO.,LTD 2010 Interim Report
72
Parent
Relationship
Type
Register place
Legal
representative
Principal
activities
Register capital
Holding prop.
(%)
Voting prop.
(%)
Final controller
of the Company
Organization
code
Shanghai Pudong
New Area Stateowned
Assets
Supervision and
Management
Commission
Holding shareholder
Shanghai
Lu Fangzhou
Administration of
state-owned assets
by entrust of
Shanghai Pudong
New Area People’s
Government
24.44 24.44 Shanghai Pudong
New Area Stateowned
Assets
Supervision and
Management
Commission
00245606-0
(2) Information about the subsidiaries of the Company
RMB’000
Subsidiary
Classification
Status
Register place
Legal representative
Business scope
Registered capital
Equity proportion %
Voting share %
Organization code
Shanghai Shanggong
Automobile Transport
Service Co.
Whollyowned
Non-comp
any system
Shanghai Chen
Yongpu
Transport 2,100 100 100 13374126-7
Durkopp Adler Trading
Shanghai Co.
Holding
subsidiary
Co., Ltd. Shanghai Zhang
Min
Imp. & Exp. of
sewing machines,
etc.
USD4,000,000 40 74 78627462-7
Shanghai Shanggong
Imp. & Exp. Co.
Holding
subsidiary
One-perso
n company
Shanghai Li
Xiaofeng
Imp. & Exp. of
sewing machines,
etc.
28,800 100 100 13228445-5
Shanghai Shuangchong
Sewing Machines Co.
Holding
subsidiary
Co., Ltd. Shanghai Chen
Changbao
Sewing machinery,
etc.
12,000 70 90 63132496-8
Shanghai Shanggong
Sewing Machines Co.
Whollyowned
One-perso
n company
Shanghai Hou
Ronglin
Industrial
investment, etc.
27,000 100 100 74809363-0
Durkopp Adler Industrial
Manufacturing Shanghai
Co.
Holding
subsidiary
Co., Ltd. Shanghai Zhang
Min
Sewing machinery,
etc.
USD10,000,00
0
70 100 79144591-0
Shanghai Shanggong
Jiayuan M&E Co.
Holding
subsidiary
Co., Ltd. Shanghai Wang
Jiaxing
Sewing machinery,
etc.
3,000 67 72 13214459-1
Shanghai Suoying Real
Estate Co.
Holding
subsidiary
Co., Ltd. Shanghai Ma
Minliang
Real estate
development, etc.
13,000 69 69 13246335-7
Shanghai Industrial
Sewing Machines
Materials General Co.
Whollyowned
Non-comp
any system
Shanghai Jiang
Jinrong
Sewing machinery,
etc.
4,650 100 100 13224151-9
Shanghai Yongde Eco.
Development Co.
Holding
subsidiary
Co., Ltd. Shanghai Zhang
Yifeng
Sales of electro. and
mechanical
equipments, etc.
2,000 80 80 13224080-7
Shanghai Fuhua Light
Sewing Machines Co.
Holding
subsidiary
Co., Ltd. Shanghai Chen
Mingqi
Production and sales
of apparel
machinery
USD1,000,000 55 55 60725436-5
Shanggong (Europe)
Holding Co.
Whollyowned
subsidiary
Co., Ltd. Germany Zhang
Min
Sewing machines,
etc.
EUR22,500,00
0
100 100 ---
SMPIC Waigaoqiao
Office Equipment Co.
Whollyowned
Co., Ltd. Shanghai Yang
Wenchan
g
Free trade zone
warehousing
8,620 100 100 13221916-
X
SMPIC Great Wall
Number Machine Co.
Whollyowned
Co., Ltd. Shanghai Li Hanhua Production and sale
of number machines
6,360 100 100 13232138-3
SMPIC Office
Equipment Imp. & Exp.
Co.
Holding
subsidiary
Co., Ltd. Shanghai Li
Jiaming
Import and export 5,000 80 100 72951976-3SGSB GROUP CO.,LTD 2010 Interim Report
73
(3) Information about associates and consortiums
RMB’000
Company
Type
Register place
Representative
Business
Register capital
Equity share (%)
Voting prop. (%)
Ending assets
Ending liabilities
Ending net assets
Turnover
Net profits
Relationship
Org. code
SMPIC Optical
Communication
Apparatus Co.
Co., Ltd.
Shanghai
Xu Zuhai
Production of
communication
apparatus
1,700
30
30
5,571.3
2,974.3
2,597.0
12,717.6
-169.4
Associate
74727118-3
Changshu
Qixing Elecplating
Hardware Co.
Co., Ltd.
Changshu
Wang Mujiong
Production of
elec-plating
products
2,800
90
90
4,655.2
2,541.5
2,113.7
-377.6
Associate
14204429-5
Shanghai
Huazhijie
Plastic Co.
Co., Ltd.
Shanghai
Dai Siwei
Production of
chemical
products
USD7,640,000
25
25
5,457.2
2,512.1
2,945.1
Associate
60734921-7
(4) Other affiliated parties of the Company
Affiliated party Relationship Organization code
Shanghai Hirose Precision Machinery Co., Ltd. With participation of the Company 60742796-7
(5) Affiliated transactions
①The transactions among the consolidated subsidiaries, and among the Company and the subsidiaries,
have been offset.
②Affiliated leasing
RMB’000
Lesser Lessee Leasing
assets
Leasing value Initial date Termination Benefit Evidence Influence
SGSB Group
Co., Ltd.
Shanghai
Hirose
Precision
Machinery
Equipment 3,088.7 2006/03/11 2011/03/11 250.0 Contract No
significant
influence
③Money lending between affiliated parties
Shanghai Pudong New Area State-owned Assets Supervision and Management Committee entrusted
Bank of Shanghai Pudong Branch to offer interest-free loans for the Company:
Affiliated party Fund Initial date Termination Explanation
Shanghai Pudong New Area State-owned Assets Supervision and
Management Comm.
12,000,000.00 2009/09/07 2009/12/07 Return on due
Shanghai Pudong New Area State-owned Assets Supervision and
Management Comm.
40,000,000.00 2009/11/24 2010/11/24 Outstanding
7.Contingent Items
(1) Contingent liabilities arising from pending litigations or arbitrations
Because of normal operations, the Company contracted mutual guarantee relationship with
Shanghai Worldbest Industry Development Co., Ltd. (Worldbest Development). Till June 30 of
2010, the balance of Shanghai Worldbest’s borrowings from China Construction Bank Shanghai
Branch (CCB SH) and Shenzhen Development Bank Shanghai Branch (SDB SH) was of RMB
118,488,000, details as following:
RMB’000SGSB GROUP CO.,LTD 2010 Interim Report
74
uarantee Sumriod lationship mpleted or
not
fluence on
financial
situation
orldbest Development 30,000 04/11/11-2005/11/09 nt-liability t
orldbest Development 8,488 05/03/29-2005/09/29 nt-liability t
orldbest Development 10,000 05/05/27-2006/05/23 nt-liability t
orldbest Development 10,000 05/06/13-2005/09/29 nt-liability t
orldbest Development 30,000 05/06/06-2006/06/01 nt-liability t
orldbest Development 30,000 05/07/14-2006/07/04 nt-liability t
conciliation
agreement
signed, the
joint-liability
guarantee
continuing
btotal 118,488
In 2007, under the reason that Worldbest Development didn’t repay the borrowings on time, CCB
SH and SDB SH launched lawsuits at Shanghai No. 1 Intermediate People’s Court (SH No.1 Inter.
Court), claiming that the Company should complete the obligation as guarantor and repay the
principal and interest totaled RMB 139,128,000 for Worldbest Development. Among which:
7.1.1 SDB SH claimed litigation preserving acts for its litigation object totaled RMB 22,408,000
(the principal RMB 18,488,000), sealing up some equity in the Company’s stock account and
some of its banking accounts. SH No.1 Inter. Court has accepted the case and scheduled the
hearing for September 11, 2007. On September 25, 2007, the same Court acted the first instance
result, charging the Company to repay the principal RMB 18,487,582 and the interest to SDB SH,
and the Company could conserve the right to claim recovery to Worldbest Development. The
Company lodged an appeal to the Higher People’s Court of Shanghai (Higher Court SH), which
accepted the lawsuit on September 30, 2007. During the process of the second instance, the
Company reached reconciliation agreement with SDB SH:
(1) The Company should cover the litigation fee and property preservation fees paid by SDB
SH.
(2) The Company continued to carry out the joint-liability guarantee for Worldbest
Development for the next two years since the signature of current agreement. During the period,
in case SDB SH and Worldbest Development reached new agreement about the time limit of
liabilities, the guarantee period would be renewed to two years after the expiration of the new
time limit.
(3) For assuring the recovery of right of SDB SH as creditor, the Company offered as
mortgages the property of 1F business area of No. 419 Baoding Road, Shanghai, which is under
the name of SMPIC, anterior subsidiary of the Company, and some other stock rights.
(4) The Company strengthened further its business cooperation with SDB SH.
(5) The Company withdrawn the lawsuit from Higher Court SH and covered the related
charges.
(6) In one year after the signature of current agreement, SDB SH wouldn’t claim the
guarantee duty towards the Company. Furthermore, SDB SH wouldn’t apply to the courts for the
execution based on the civil judgment No. (2007)HYZMSSCZ98. If the Company failed to fulfill
its guarantee duties, it should accept that SDB SH chose lawsuit to resolve the problem.
On September 23, 2008, the Company signed the reconciliation agreement with SDB SH. On
November 5, 2008, the Company received the civil ruling No. (2007)HGMESZZ134 from Higher
Court SH, in which allowed the Company to withdraw the appeal in light of the reconciliation
agreement with SDB SH.
7.1.2 CCB SH claimed litigation preserving acts for its litigation object totaled RMB 11,672,000
(the principal RMB 100,000,000), sealing up some plots of the Company. SH No.1 Inter. Court
has accepted the case and scheduled the hearing for August 7, 2007. On December 13, 2007, the
same Court acted the first instance result, charging the Company to fulfill the joint liability
responsibility. The Company lodged an appeal to the Higher Court SH, which accepted the
lawsuit on January 2, 2008. During the process of the second instance, the Company reached
reconciliation agreement with CCB SH:SGSB GROUP CO.,LTD 2010 Interim Report
75
(1) The Company should cover the litigation fee, property preservation fees and lawyer
charges paid by CCB SH in all the four lawsuits.
(2) The Company continued to carry out the joint-liability guarantee for Worldbest
Development for the next two years since the signature of current agreement. During the period,
in case CCB SH and Worldbest Development reached new agreement about the time limit of
liabilities, the guarantee period would be renewed to two years after the expiration of the new
time limit. The renewal of guarantee period didn’t need the agreement of the Company and the
Company should continue taking its guarantee duty.
(3) For assuring the recovery of right of CCB SH as creditor, the Company offered as
mortgages the property of No. 603 Dapu Road, Shanghai, which was fully owned by the
Company.
(4) The Company withdrawn the lawsuit from Higher Court SH and covered the related
charges.
(5) In one year after the signature of current agreement, CCB SH wouldn’t claim the
guarantee duty towards the Company. Furthermore, CCB SH wouldn’t apply to the courts for the
execution based on the civil judgments No. (2007)HYZMSSCZ77/78/79/80. If the Company
failed to fulfill its guarantee duties, it should accept that SDB SH chose lawsuit to resolve the
problem.
On April 10, 2008, the Company signed the reconciliation agreement with CCB SH. On June 26,
2008, the Company received the civil ruling No. (2008)HGMESZZ25 from Higher Court SH, in
which allowed the Company to withdraw the appeal in light of the reconciliation agreement with
SDB SH.
7.1.3 Worldbest Development offered as counter-mortgages for the Company’s guarantee towards
its bank borrowings the 95% equity of Jiangxi Xinyu Worldbest Far East Textile Co., Ltd. and the
88.53% equity of Shanghai Worldbest Sweater Wears Co., Ltd. Without informing and getting
the permission of the Company, Worldbest Development sold 95% equity of Jiangxi Xinyu
Worldbest Far East Textile Co., Ltd. to Xinyu State-owned Assets Supervision & Administration
Commission (XY S&A Commission). XY S&A Commission developed an open integral equity
transfer through Jiangxi Assets and Equity Exchange. The Company has launched a litigation of
properties and assets at SH No.1 Inter. Court, claiming invalid the transfer agreement. SH No.1
Inter. Court accepted the lawsuit. On March 27, 2008, SH No.1 Inter. Court issued respectively a
civil ruling and a civil reconciliation letter (2007)HYZMSSCZ35 to seal the commercial dispute
between the Company, Worldbest Development and XY S&A Commission. The civil ruling
allowed the Company to withdraw the appeal. At the meantime, the Court presided the
reconciliation between the Company and Worldbest Development, who promised to offer
23.715% equity of Zhangjiagang Middle East Petrochemical Industrial Co., Ltd. and 35.3259%
equity of Jiangsu Yalu Industrial Co., Ltd. as substitution of the original tender of rights. For
assuring the realization of counter-mortgages, the Company applied for property preservation to
SH No.1 Inter. Court, which permitted to freeze the 23.715% equity of Zhangjiagang Middle East
Petrochemical Industrial Co., Ltd., 35.3259% equity of Jiangsu Yalu Industrial Co., Ltd. and
88.53% equity of Shanghai Worldbest Sweater Wears Co., Ltd.
The meeting of the Fifth Board of Directors considered and agreed that the Company accrued
30% of the guarantee principal amounted RMB 35,546,274.60 as anticipated liabilities.
Besides, in favor of the reorganization of Worldbest Development, on request of its holding
shareholder China Worldbest Group Co., Ltd. and Financial Creditors’ Committee, the Company
agreed to fulfill the guarantee change register for liabilities transfer under the precondition that the
reorganization program of Worldbest Development could take smooth progress.
(2)Contingent liabilities arising from debt guarantees for other entities and their impact upon
accounting treatment
7.2.1 Contingent liabilities arising from debt guarantees for other entities as at June 30, 2010
The Company contracted mutual guarantee relationship with Shanghai Worldbest Industry
Development Co., Ltd. (Worldbest Development). Till June 30, 2010, all the six bank borrowings of
Worldbest Development were overdue, amounted to RMB 118,488,000 (reference to current financial
annotations 7.1).
7.2.2 Contingent liabilities arising from debt guarantees for other entities Shanggong (Europe) Holding
Co., Ltd. as at June 30, 2010SGSB GROUP CO.,LTD 2010 Interim Report
76
RMB’000
uarantee Sum riod lationship mpleted or not fluence on financial situation
anggong (Europe) Holding
Co., Ltd.
USD5,300,000 05/06/30-2015/10/31 nt-liability t timated not to be overdue, no negative
influence upon the Company’s operations.
According to the agreement with FAG Kugelfischer GmbH (FAG) about the equity transfer of
Durkopp Adler AG, the Company should take joint-liability for the following cases:
In 2005, the Company offered a letter of guarantee valued USD 5,300,000 to FAG Kugelfischer
AG for the housing lease contract of DA’s subsidiary in the United States, valid from June 30,
2005 to October 31, 2015. On the same day June 30, 2005, SG Europe offered a cash mortgage of
? 635,000 to FAG (with the same period of validity) for re-guaranteeing the latter’s responsibility
in the sale and lease-back deal between DA’s subsidiary and UTF Norcross L.L.C.
Till June 30, 2010, this guarantee deal didn’t cause outflow of economic interest from the
Company.
(3)Other contingent liabilities
There are no other contingent items that should be disclosed.
8.Commitments
(1)Significant commitments
①External investment contract made and unfulfilled or not fully fulfilled and the related accounting
expenditure
Till June 30, 2010, the Company hasn’t any contract made and unfulfilled or not fully fulfilled that
should be disclosed to public.
②Big-ticket outsourcing contract made and in progress or to be fulfilled and the related accounting
influence
Till June 30, 2010, the Company hasn’t any big-ticket outsourcing contract in progress or to be
fulfilled to be announced.
③Lease contract made and in progress or to be fulfilled and the related accounting influence
Till June 30, 2010, the Company hasn’t any lease contract made and in progress or to be fulfilled to be
disclosed.
④Merger agreement made and in progress or to be fulfilled
Till June 30, 2010, the Company hasn’t any merger agreement made and in progress or to be fulfilled
to be announced.
⑤Restructure program made and in progress or to be fulfilled
Till June 30, 2010, the Company hasn’t any restructure program made and in progress or to be fulfilled
to be disclosed.
⑥Other significant accounting commitments
a. Borrowings through mortgage of assets
RMB’000
Mortgage Purpose Sum Borrower
436 Jumen Road, Bank borrowing 40,000 SGSB Group
11A-11D, 1500 Century Avenue Bank borrowing 10,000 SGSB Group
Building at 175 Xiangyang Road Bank borrowings 20,000
22,000
SGSB Group
SGSB Group
Bank deposit of EUR 1,390,000 Credit guarantee --- Shanggong (Europe) Holding Co.
Bank deposit of EUR 673,000 Guarantee --- Shanggong (Europe) Holding Co.
Fixed assets of EUR 11,273,000 inventory
1,214,500
Credit guarantee EUR2,822,000 Shanggong (Europe) Holding Co.SGSB GROUP CO.,LTD 2010 Interim Report
77
b. Affiliated parties or other entities offering guarantee for the Company as at June 30, 2010
RMB’000
Guarantor Guarantee Type Purpose Sum
Non-affiliated party
Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 17,500
Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 27,100
Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 22,000
Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 29,000
Shanghai Pudong Development (Group) Co., Ltd. SGSB Group Joint liability Bank borrowing 20,000
Total 115,600
c. Equity mortgage
The Company has mortgaged the 48.96% among the 100% equity of its anterior wholly-owned
subsidiary SMPIC to Shanghai Pudong Development (Group) Co., Ltd. as counter guarantee for the
guarantee quotation of RMB 135,600,000 (as at June30, 2010 really guaranteed borrowing RMB
115,600,000), the period of counter guarantee is from June 9,2008 to June 8, 2012.
(2)Fulfillment of commitments made in previous periods
There is no information about fulfillment of commitments made in previous periods that should be
disclosed or announced.
9. Events occurring after balance sheet date
(1) Significant events after balance sheet date: No
(2)Profit appropriation after balance sheet date
According to the resolution by the 9th meeting of the Sixth Board of Directors dated August 26, 2010,
the Company didn’t propose profit appropriation for the report year.
(3)Other events after balance sheet date
Till the disclosure of current report, the Company hasn’t any other significant events that should be
announced to the public.
10.Explanation about other significant events
(1)Significant disposal of assets
On 8th meeting of the Sixth Board of Directors of the Company on May6, 2010, approved that Durkopp Adler Ag, the subsidiary of Shanggong Europe
(Holding) GmbH, the wholly owned subsidiary of the Company, would sale and transfer its shares in DFT. On May 28, 2010, the 2009 General Meeting of
Shareholders approved this project. The share transfer was completed on July 1, 2010.
(2)Information about absorption merger
The Company uses Shanggong Sewing Machine Co.,Ltd, the wholly-owned subsidiary, as the platform, hold and merge Shanggong Imp. & Exp. Co.,Ltd and
Shanghai Butterfly imp. &Exp. Co.,Ltd, the holding subsidiaries of the Company. After the merger, Shanggong Sewing Machine Co.,Ltd was re-named as
Shanghai Shanggong Butterfly Sewing Machine Co.,Ltd. On the 8th meeting of the Sixth Board of Directors of the Company on may 6,2010 and 2009 General
Meeting of Shareholders, this agenda was approved. On Juen 28, 2010, the business registration procedure of Shanghai Shanggong Butterfly Sewing Machine
Co.,Ltd was completed.
(3)Assets and liabilities accounted at fair value
RMB’
Year-beginning Profits/losses Accumulated Impairment Period-endSGSB GROUP CO.,LTD 2010 Interim Report
78
from changes of
fair value
changes of fair
value into equity
accrual
Financial assets
1. Financial assets at fair value and whose
changes accounted into current profits and
losses (derivatives excluded)
452,884.48 -82,143.59 324,049.68
2. Financial derivatives
3. Financial assets available for sale 7,105,317.57 -654,297.72 4,080,359.85 5,927,759.85
Subtotal of financial assets 7,558,202.05 -736,441.31 4,080,359.85 6,251,809.53
Investment real estate
Productive biological assets
Others
Total 7,558,202.05 -736,441.31 4,080,359.85 6,251,809.53
Financial liabilities
(4)Other significant issues to be disclosed
Till June 30, 2010, the Company hasn’t any other significant issues to be disclosed.
11.Important notes for parent company’s financial statements
(1)Accounts receivable
1.Composition of accounts receivable
Year-end Year-beginning
Balance
Prop.
(%)
Provision for bad
debts/Prop. %
Balance
Prop.
(%)
Provision for bad
debts/Prop. %
1. Accounts receivable with significant
individual amount
17,146,636.68 13.22
857,331.83
5.00
32,338,686.68 28.89
28,376,575.53
87.75
2. Accounts receivable with
insignificant individual amounts but
characterized as risky portfolio
112,576,368.40 86.78
100,788,998.98
89.53
79,615,765.21 71.11
55,881,455.03
70.19
3. Other insignificant accounts
receivable
Total 129,723,005.08 100.00 101,646,330.81 111,954,451.89 100.00 84,258,030.56
(2) End-of-period provision for bad debts of accounts receivable with significant individual amount or
insignificant individual amount but under impairment testing: No
Accounts receivable with insignificant individual amounts but characterized as risky portfolio
Period-end Year- beginning
Balance Balance
Age
Sum Proportion (%)
Provision
Sum Proportion (%)
Provision
Within 1 year 11,998,577.46 10.72 599,928.88 10,693,576.37 9.50 537,206.12
1—2 years 880,842.14 0.79 176,168.43 1,612,724.00 1.43 322,544.79
2—3 years 1,590,453.78 1.42 795,226.89 681,639.92 0.61 340,819.96
Over 3 years 97,425,037.30 87.07 97,425,037.30 99,588,428.11 88.46 99,588,428.11
Total 111,894,910.68 100.00 98,996,361.50 112,576,368.40 100.00 100,788,998.98
(3).Among the period-end accounts receivable, there are no obligators who holds individually 5% or
more equity of the Company.
(4).Top five accounts receivable
Entity or rank Relation with the
Company
Sum Duration Proportion in total
accounts receivable (%)SGSB GROUP CO.,LTD 2010 Interim Report
79
No.1 client Third party 3,505,433.56 Within 1 year 2.82
No.2 client Subsidiary of the
Company 3,011,291.87
Within 1 year
2.42
No.3 client Third party 2,306,802.69 Within 1 year 1.85
No.4 client Third party 1,846,959.72 1-3 years 1.48
No.5 client Third party 1,821,900.00 1-3 years 1.46
(5)Accounts receivable from affiliated parties
Affiliated party Relationship Sum Prop. in accounts receivable (%)
Durkopp Adler Industrial
Manufacturing Shanghai Co.
Subsidiary of the Company 1,570,263.24 1.26
Shanghai Fuhua Light Sewing
Machines Co.
Subsidiary of the Company 23,765.46 0.02
Shanghai Shanggong Sewing
Machines Co.
Subsidiary of the Company 144,992.19 0.12
Shanghai Shanggong Imp. &
Exp. Co.
Subsidiary of the Company 1,144,214.43 0.92
SMPIC Office Equipment Imp. &
Exp. Co.
Subsidiary of the Company 3,011,291.87 2.42
Shanghai Shuangchong Sewing
Machines Co.
Subsidiary of the Company
(2)Other receivables
1.Composition of other receivables
Year-end Year-beginning
Balance
Prop.
(%)
Provision for bad
debts/Prop. %
Balance
Prop.
(%)
Provision for bad
debts/Prop. %
1. Accounts receivable with
significant individual amount
199,359,843.91 81.97
9,967,992.20/
5.00
220,775,651.52 75.76
11,038,782.58/
5.00
2. Accounts receivable with
insignificant individual amounts but
characterized as risky portfolio
43,858,089.44 18.03
23,469,279.04/
53.51
70,637,298.58 24.24
24,714,410.03/
34.99
3. Other insignificant accounts
receivable
Total 243,217,933.35 100.00 33,437,271.24 291,412,950.10
100.0
0
35,753,192.61
2.End-of-period provision for bad debts of accounts receivable with significant individual amount or
insignificant individual amount but under impairment testing: No
Accounts receivable with insignificant individual amounts but characterized as risky portfolio
Period-end Year- beginning
Balance Balance
Age
Sum Proportion (%)
Provision
Sum Proportion (%)
Provision
Within 1 year 19,502,690.55 44.47 975,134.53 46,110,418.32 65.28 2,281,806.34
1—2 years 1,914,596.00 4.37 382,919.20 1,905,935.28 2.70 381,107.06
2—3 years 659,155.15 1.50 329,577.57 1,138,897.12 1.61 569,448.77
Over 3 years 21,781,647.74 49.66 21,781,647.74 21,482,047.86 30.41 21,482,047.86
Total 43,858,089.44 100.00 23,469,279.04 70,637,298.58 100.00 24,714,410.03
3. Among the period-end accounts receivable, there are no obligators who holds individually 5% or
more equity of the Company.
4.Top five accounts receivable
Entity or rank Relation with the
Company
Sum Duration Proportion in total
accounts receivable (%)
No.1 client Subsidiary of the
Company
61,089,144.85
Within 1 year
25.12SGSB GROUP CO.,LTD 2010 Interim Report
80
No.2 client Third party 57,000,000.00 Within 1 year 23.44
No.3 client Subsidiary of the
Company
39,012,979.45
Within 1 year
16.04
No.4 client Subsidiary of the
Company
33,308,520.05
Within 1 year
13.69
No.5 client Subsidiary of the
Company
Within 1 year
5.Accounts receivable from affiliated parties
Affiliated party Relationship Sum Prop. in accounts receivable (%)
Durkopp Adler Industrial
Manufacturing Shanghai Co.
Subsidiary of the Company 36,064,152.34 14.83
SMPIC Great Wall Number
Machines Co.
Subsidiary of the Company 61,089,144.85 25.12
Shanghai Shanggong Sewing
Machines Co.
Subsidiary of the Company 1,448,330.91 0.60
Shanghai Shanggong Imp. &
Exp. Co.
Subsidiary of the Company 2,890,957.82 1.19
Shanggong Europe Holding Co.,
Ltd.
Subsidiary of the Company 39,012,979.45 16.04
SMPIC Office Equipment Imp. &
Exp. Co.
Subsidiary of the Company 270,189.39 0.11
Shanghai Shuangchong Sewing
Machines Co.
Subsidiary of the Company 8,949,199.57 3.68
Shanghai Suoying Real Estate
Co., Ltd.
Subsidiary of the Company 82,532.24 0.03
Shanghai Yongde Eco.
Development Co.
Subsidiary of the Company 913,957.71 0.38
(3)Long-term equity investment
Company
Accounting method
Initial investment
Year-beginning
Current change
Period-end
Holding prop.
Voting prop.
Explanation
Provision
Current accrual
Cash dividend
SMPIC Optical
Communication
Equity
method
510,000.00 917,111.56 -917,111.56
Shanghai Huazhijie
Plastic
Equity
method
1,766,689.38 736,283.66 736,283.66 25 25
Subtotal for equity
method
1,653,395.22 -917,111.56 736,283.66
Shanghai Xingguang
Underwear (South
Africa)
Cost
method 308,033.99 308,033.99 308,033.99 14.3 14.3 308,033.99
Shanghai Shensi
Enter. Development
Cost
method
7,944,827.59 7,944,827.59 7,944,827.59 10.59 10.59
Wuxi Shanggong
Sewing Machines
Cost
method
153,814.26 153,814.26 153,814.26 80 80 153,814.26
Shanghai Hualian
Sewing Machinery
Cost
method
400,000.00 400,000.00 400,000.00 21.74 注
Shanghai Fuji-Xerox Cost
method
29,140,749.49 29,140,749.49 29,140,749.49 15.92 15.92 6,465,162.65
Shanghai Baoding
Investment
Cost
method
7,500.00 7,500.00 7,500.00 <5 <5
Bank of Shanghai Cost
method
551,400.00 551,400.00 551,400.00 <5 <5 273,372.00
China Perfect
Machinery
Cost
method
90,000.00 90,000.00 90,000.00 <5 <5
Shenyin & Wanguo
Securities
Cost
method
200,000.00 200,000.00 200,000.00 <5 <5
Shanghai Hirose
Precision Industrial
Cost
method
2,840,376.00 30 注 750,000.00
Durkopp Adler
Industrial
Manufacturing
Cost
method 53,223,926.00 53,223,926.00 53,223,926.00 70 100SGSB GROUP CO.,LTD 2010 Interim Report
81
Shanghai Co.
Shanghai Gongfeng
Real Estate
Cost
method
11,830,443.11 11,830,443.11 11,830,443.11 40 74
Shanggong Xingda
Sewing Machines
Cost
method
4,600,000.00 4,600,000.00 4,600,000.00 100 100 932,718.43
Durkopp Adler
Trading Shanghai
Cost
method
2,100,000.00 2,100,000.00 2,100,000.00 100 100
Shanghai Industrial
Sewing Machines
Materials
Cost
method 1,600,000.00 1,600,000.00 1,600,000.00 80 80
Shanggong Songda
Sewing Machines
Cost
method
10,318,153.64 10,318,153.64 -10,318,153.64 15,286,119.43
Shanggong
Transport
Cost
method
3,168,000.00 3,168,000.00 3,168,000.00 55 55
Shanghai Yongde
Eco. Development
Cost
method
Shanghai Butterfly
Imp. & Exp.
Cost
method
Shanghai Fuhua
Light Sewing
Machines
Cost
method
Shanggong Fangtian
Sewing Machinery
Cost
method
Shanggong Jiayuan
Sewing Machines
Cost
method
Shanghai
Shuangchong
Sewing Machines
Cost
method
Shanghai Suoying
Real Estate
Cost
method
Shanggong Imp. &
Exp.
Cost
method
Shanggong Sewing
Machines
Cost
method
SMPIC Cost
method
Shanggong Europe
Holding
Cost
method
Cost
method
SMPIC Waigaoqiao
Office Apparatus
Cost
method
SMPIC Great Wall
Number Machines
Cost
method
SMPIC Imp. & Exp. Cost
method
Subtotal for cost
method
549,510,311.02 -220,266,737.64 329,243,573.38 16,154,566.68 932,718.43 15,521,336.06
Total 549,510,311.02 -218,613,342.42 330,896,968.60 -- -- -- 16,154,566.68 932,718.43 15,659,336.06
Note: The Company doesn’t participate in the decision or operation of Shanghai Hualian Sewing
Machines Co., Ltd., Shanghai Hirose Precision Industrial Co., Ltd., nor realizes significant influence
upon the invested entities. This is the reason for adopting cost method.
(4)Operating revenue and operating expense
1.Principal operating income
Current period Previous period
Principal operating income 73,231,325.47 2,729,478.26
Other operating income 13,103,248.98 4,340,743.48
Operating cost 69,387,960.27 5,169,583.49
2.Principal operations, by business sectorsSGSB GROUP CO.,LTD 2010 Interim Report
82
Current period Previous period
Income Expense Income Expense
Industrial operations 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
Total 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
3.Principal operations, by products
Current period Previous period
Income Expense Income Expense
Sewing machines 1,885,829.82 2,492,536.54 2,729,478.26 4,476,232.34
Office supplies 12,152,528.43 11,131,763.57
Film equipment 59,192,967.22 52,816,662.40
Total 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
4.Principal operations, by regions
Current period Previous period
Income Expense Income Expense
Home 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
Total 73,231,325.47 66,440,962.51 2,729,478.26 4,476,232.34
5.Principal operating income from the top five clients of the Company
Entity or rank Operating income Proportion (%)
No.1 client 23,164,282.00 26.83
No.2 client 15,683,524.27 18.17
No.3 client 2,729,490.13 3.16
No.4 client 2,351,459.44 2.72
No.5 client 1,679,918.18 1.95
(5)Investment income
1.Detailed information about investment income
Item Current period Previous period
Long-term equity investment by cost method 22,399,533.06 23,598.25
Long-term equity investment by equity method
From disposal of long-term equity investment -3,316,500.93
From disposal of tradable financial assets
From financial assets available for sale
Others
Total 19,083,032.13 23,598.25
There are no significant restrictions over the inflow of investment earnings.
2.By cost method
Invested entity Current period Previous period Reason for increase/decrease
Shanghai Fuji-Xerox Co., Ltd. 6,465,162.65
Shanghai Shensi Enterprise Development Co. Ltd. 15,286,119.43
Shanghai Butterfly Imp. & Exp. Co., Ltd. 750,000.00 750,000.00
Shanghai Hirose Precision Machinery Co., Ltd. -375,121.02 -726,401.75
Shanghai Shuangchong Sewing Machines Co., Ltd.
The investment income from Shanghai Shuangchong Sewing Machines Co., Ltd. represents the excess
loss accrued by the Company .SGSB GROUP CO.,LTD 2010 Interim Report
83
(6)Supplements of cash flow statement
Item Current period Previous period
1.Net profits converted into cash flow from operating activities
Net profits 7,331,627.02 -30,681,028.05
Add: provision for assets depreciation -3,796,838.74 544,111.21
Depreciation of fixed assets, of oil/gas assets and productive biological assets 7,142,634.73 4,305,645.01
Amortization of intangible assets 1,558,763.73 1,779,704.28
Amortization of long-term deferred expenses ---
Losses in disposal of fixed assets, intangible and other long-term assets (less:
income)
-5,374,639.85 -448,325.90
Losses on scrapping of fixed assets (less: income) 324,050.00
Losses on changes in fair value (less: income) 102,744.80 -132,728.71
Financial expense (less: income) 4,617,493.14 11,351,241.23
Investment loss (less: income) -19,083,032.13 -23,598.25
Decrease in deferred income tax assets (less: increase)
Increase in deferred income tax liabilities (less: decrease)
Decrease of inventories (less: increase) 7,921,219.38 2,017,984.81
Decrease in receivables under operating activities (less: increase) -2,439,602.49 -2,930,046.03
Increase in payables under operating activities (less: decrease) -30,945,396.75 9,846,112.49
Others
Net cash flows from operating activities -32,965,027.16 -4,046,877.91
2.Investing and financing activities that do not involve cash receipts and payments
Conversion of debt into capital
Convertible bonds to be expired within one year
Fixed assets under finance lease
3.Net increase in cash and cash equivalents
Cash at the end of period 133,031,574.57 47,455,492.89
Less: Cash at the beginning of period 273,006,414.17 55,099,297.35
Plus: Cash equivalents at the end of period
Less: Cash equivalents at the beginning of period
Net increase in cash and cash equivalents -139,974,839.60 -7,643,804.46
12.Supplementary information
12.1 Current-year non-current profit/loss attributable to ordinary shareholders
RMB’
Item
Sum Explanation
Disposal of non-current assets, including the written-off of accrued provision for assets depreciation 8,024,000.78
Tax rebate and tax relief from approval without authorization, formal authorization or under occasional
situation
Government subsidies accounted into current profit/loss, except the continuous ration subsidies directly
related to the normal operations and stipulated by the government
967,681.00
Dispossession surcharge to non-financial institutions accounted into current profit/loss
Earning from the difference between investment cost and the fair value of identifiable net assets when the
company acquires subsidiaries, associates or joint-venture companies
Exchange of non-monetary assets
Assets under investment or management of trustee
Provision for assets’ depreciation under force majeure
Liabilities reorganization
Business reorganization, including staff arrangement and integration
Exceeding above the fair value in transactions whose price are obviously unfair
Business combination under the same control from the year-beginning to the combination dateSGSB GROUP CO.,LTD 2010 Interim Report
84
Contingent affairs not related to normal operations
Fair value changes of tradable financial assets/liabilities and investment profits from the transfer of
tradable financial assets/liabilities and financial assets available for sale, except futures’ hedging
activities directly related to the normal operations profit/loss from fair value changes of tradable financial
assets/liabilities and investment profits from the transfer of tradable financial assets/liabilities and
financial assets available for sale, except futures’ hedging activities directly related to the normal
operations
369,053.79
Return of provision for accounts receivable depreciation under individual impairment testing
Externally entrusted loans
Fair value changes in investment real estates adopting fair value method for subsequent calculation
Influence of once adjustment upon current profit/loss according to taxation and accounting regulations
Custodian fees from trust operation
Other non-operating income/expenditure 5,378,749.91
Other profit/loss items conformed to the definition of non-current profit/loss
Influence of income tax -24,152.37
Influence of minority interest (after tax) -998,668.59
Total 13,716,664.52
12.2 Rate of return on net assets and earning per share
RMB’
Net profit Weighted rate of Earning per share
return on net assets Basic Diluted
Net profit attributable to common shareholders 0.6608 0.0082 0.0082
Net profit attributable to common shareholders after noncurrent
profit/loss
-1.8138 -0.0224 -0.0224
12.3 Abnormal situations of financial statements and explanation of reason
RMB’
Period-end Year-beginning Ratio Reason
Monetary capital
292,288,164.86 500,436,327.04 -41.59 Mainly due to return of shareholder loan and accrual of
dismiss welfare costs e by Europe subsidiarys
Advance payment
81,393,759.50 40,261,334.94 102.16 Mainly due to increase in advance payment for unfinished
products
Employee income
payment
82,781,355.11 156,133,546.73 -46.98 Mainly due to the accrual of dismiss welfare costs
Othe r payables
129,990,327.21 277,037,653.23 -53.08 Mainly due to repayment of shareholder loan by Eurpe
subsidiary
Foreign currency
transformation difference
-47,923,737.43 -16,065,589.05 -198.30 Mainly due to change in Euro exchange rate
Financial cost 15,736,223.33 29,644,028.27 -46.92 Mainly due to decrease of interest payment
Asset impair loss
-12,146,901.05 -805,211.24
-
1,408.5
4
Mainly due to the increase in inventory value and adjust
inventory fall price reserve and get back credit and
receivables and adjust bad debt reserve
Operating income
16,921,154.13 1,345,555.28 1,157.5
6
Mainly due to the increase in profit from disposal of fixed
assets
13.Authorization for the publication of financial statements
The current financial statements have been authorized by the 9th meeting of the Sixth Board of
Directors on August 26, 2010 to be submitted to the related authorities and the public.SGSB GROUP CO.,LTD 2010 Interim Report
85SGSB GROUP CO.,LTD 2010 Interim Report
86
VIII. For Reference
1. Interim Report with signature of the Chairman of BOD;
2. Financial statements signed by the legal person representative, Director in charge of
accounting affairs and chief accountant;
3. All the original documents and announcements carried in the newspaper authorized by
China Securities Regulatory Commission within report period;
4. Articles of Association of the Company;
5. Other related materials.
Chairman of BOD: Zhang Min
SGSB Group Co., Ltd.
August 26, 2010
