上海锦江国际酒店发展股份有限公司 2017 年半年度报告
公司代码：600754、900934 公司简称：锦江股份、锦江 B 股
上海锦江国际酒店发展股份有限公司
2017 年半年度报告
重要提示
一、 本公司董事会、监事会及董事、监事、高级管理人员保证本半年度报告内容的真实、准确、
完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。
二、 本公司第八届董事会第四十一次会议于 2017 年 8 月 29 日审议通过了本半年度报告。公司全
体董事出席董事会会议。
三、 本公司按中国企业会计准则编制 2017 年半年度财务报表，已经德勤华永会计师事务所（特
殊普通合伙）审阅，并出具了德师报（阅）字（17）第 R00069 号标准无保留意见的审阅报
告。
四、 公司负责人董事长俞敏亮先生、首席执行官张晓强先生、主管会计工作负责人首席财务官
沈莉女士及会计机构负责人（会计主管人员）吴琳女士声明：保证半年度报告中财务报告的
真实、准确、完整。
五、 经董事会审议的报告期利润分配预案或公积金转增股本预案
无
六、 前瞻性陈述的风险声明
√适用 □不适用
本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请
投资者注意投资风险。
七、 是否存在被控股股东及其关联方非经营性占用资金情况
否
八、是否存在违反规定决策程序对外提供担保的情况？
否
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
九、 重大风险提示
公司已在本报告中详细阐述存在的行业风险、市场风险等，敬请查阅经营情况讨论与分析部分的
内容。
十、 其他
√适用 □不适用
本半年度报告分别以中文和英文两种文字印制，在对两种语言文本的说明上存在歧义时，以中文
文本为准。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
目录
第一节 释义..................................................................................................................................... 4
第二节 公司简介和主要财务指标 ................................................................................................. 6
第三节 公司业务概要..................................................................................................................... 9
第四节 经营情况的讨论与分析 ................................................................................................... 12
第五节 重要事项........................................................................................................................... 32
第六节 普通股股份变动及股东情况 ........................................................................................... 41
第七节 优先股相关情况............................................................................................................... 44
第八节 董事、监事、高级管理人员情况 ................................................................................... 45
第九节 公司债券相关情况........................................................................................................... 46
第十节 财务报告........................................................................................................................... 47
第十一节 备查文件目录................................................................................................................... 48
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第一节 释义
在本半年度报告中，除非文义另有所指，下列词语具有如下含义：
常用词语释义
公司、本公司、锦江股份 指 上海锦江国际酒店发展股份有限公司
锦江酒店集团 指 上海锦江国际酒店（集团）股份有限公司，本公司控股股东
锦江国际（集团）有限公司，
锦江国际 指
锦江股份、锦江酒店集团之法人实际控制人
锦江资本 指 上海锦江资本管理有限公司
上海锦江卢浮亚洲酒店管理有限公司，
卢浮亚洲 指
原名“上海锦江都城酒店管理有限公司”
锦江之星 指 锦江之星旅馆有限公司
旅馆投资公司 指 上海锦江国际旅馆投资有限公司
金广快捷 指 山西金广快捷酒店管理有限公司
时尚之旅 指 时尚之旅酒店管理有限公司
锦卢投资公司 指 上海锦卢投资管理有限公司
SAILING INVESTMENT CO.SARL(海路投资有限公司)，
海路投资公司 指
注册于卢森堡
卢浮集团、GDL 指 Group du Louvre，注册于法国
卢浮酒店集团、LHG 指 Louvre Hotels Group，注册于法国
铂涛集团 指 Keystone Lodging Holdings Limited 及下属子公司的合称
维也纳酒店 指 维也纳酒店有限公司
达华宾馆 指 上海锦江达华宾馆有限公司
闵行饭店 指 上海闵行饭店有限公司
锦盘酒店 指 上海锦盘酒店有限公司
东亚饭店 指 上海锦江国际酒店发展股份有限公司东亚饭店
南京饭店 指 上海锦江国际酒店发展股份有限公司南京饭店
新城饭店 指 上海锦江国际酒店发展股份有限公司新城饭店
新亚大酒店 指 上海锦江国际酒店发展股份有限公司新亚大酒店
南华亭宾馆 指 上海锦江国际酒店发展股份有限公司南华亭宾馆
金沙江宾馆 指 上海锦江国际酒店发展股份有限公司金沙江宾馆
白玉兰酒店 指 上海锦江国际酒店发展股份有限公司白玉兰酒店
青年会宾馆 指 上海锦江国际酒店发展股份有限公司青年会宾馆
餐饮投资公司 指 上海锦江国际餐饮投资管理有限公司
新亚食品 指 上海新亚食品有限公司
锦江食品 指 上海锦江国际食品餐饮管理有限公司
锦箸餐饮 指 上海锦箸餐饮管理有限公司
锦亚餐饮 指 上海锦亚餐饮管理有限公司
锦江同乐 指 上海锦江同乐餐饮管理有限公司
上海吉野家 指 上海吉野家快餐有限公司
上海肯德基 指 上海肯德基有限公司
新亚富丽华 指 上海新亚富丽华餐饮股份有限公司
杭州肯德基 指 杭州肯德基有限公司
无锡肯德基 指 无锡肯德基有限公司
苏州肯德基 指 苏州肯德基有限公司
静安面包房 指 上海静安面包房有限公司
百岁村餐饮 指 深圳市百岁村餐饮连锁有限公司
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
WeHotel 指 上海齐程网络科技有限公司
Sarovar 指 Sarovar Hotels Private Limited
锦江财务公司 指 锦江国际集团财务有限责任公司
长江证券 指 长江证券股份有限公司
申万宏源 指 申万宏源集团股份有限公司
弘毅投资基金 指 弘毅（上海）股权投资基金中心（有限合伙）
国盛投资 指 上海国盛集团投资有限公司
长城资管 指 中国长城资产管理公司
华安资管 指 华安未来资产管理（上海）有限公司
上海国际资管 指 上海国际集团资产管理有限公司
中国证监会 指 中国证券监督管理委员会
上交所 指 上海证券交易所
香港联交所 指 香港联合交易所有限公司
上海市国资委 指 上海市国有资产监督管理委员会
《公司法》 指 《中华人民共和国公司法》
《证券法》 指 《中华人民共和国证券法》
出租率 指 （实际出租客房数/可供出租客房总数）×100%，%
平均房价 指 客房总收入/实际出租客房数，元/间
每间可供出租客房提供的每日平均客房收入，
RevPAR 指
平均客房收入=平均房价×平均出租率，元/间
EBITDA 指 扣除利息所得税折旧摊销前的利润
《公司章程》 指 《上海锦江国际酒店发展股份有限公司章程》
报告期、本期， 2017 年 1 月 1 日至 2017 年 6 月 30 日，
指
报告期末、本期末 2017 年 6 月 30 日
上年同期、上期， 2016 年 1 月 1 日至 2016 年 6 月 30 日，
指
上年末 2016 年 12 月 31 日
元、万元 指 人民币元、人民币万元
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第二节 公司简介和主要财务指标
一、 公司信息
公司的中文名称 上海锦江国际酒店发展股份有限公司
公司的中文简称 锦江股份
Shanghai Jin Jiang International Hotels
公司的外文名称
Development Co., Ltd.
公司的外文名称缩写 JINJIANG SHARES
公司的法定代表人 俞敏亮 先生
二、 联系人和联系方式
董事会秘书 证券事务代表
姓名 胡 暋 女士 杨 劼 女士
联系地址 上海市延安东路100号25楼 上海市延安东路100号25楼
电话 86-21-63217132 86-21-63217132
传真 86-21-63217720 86-21-63217720
电子信箱 JJIR@jinjianghotels.com JJIR@jinjianghotels.com
三、 基本情况变更简介
中国（上海）自由贸易试验区杨高南路889号
公司注册地址
东锦江大酒店商住楼四层（B区域）
公司注册地址的邮政编码 200127
公司办公地址 上海市延安东路100号25楼
公司办公地址的邮政编码 200002
公司网址 http://www.jinjianghotels.sh.cn
电子信箱 JJIR@jinjianghotels.com
报告期内变更情况查询索引
四、 信息披露及备置地点变更情况简介
公司选定的信息披露报纸名称 《上海证券报》、《大公报》
登载半年度报告的中国证监会指定网站的 http://www.sse.com.cn
网址
公司半年度报告备置地点 公司董事会秘书室
五、 公司股票简况
股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称
A股 上海证券交易所 锦江股份 600754 新亚股份
B股 上海证券交易所 锦江B股 900934 新亚B股
六、 其他有关资料
□适用 √不适用
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
七、 公司主要会计数据和财务指标
(一) 主要会计数据
单位：元 币种：人民币
本报告期比
本报告期 上年同期
主要会计数据 上年同期增减
（2017年1至6月） （2016年1至6月）
(%)
营业收入 6,289,013,150.53 4,368,181,085.26 43.97
归属于上市公司股东的净利润 412,453,689.41 299,157,333.01 37.87
归属于上市公司股东的扣除非经常 199,462,003.05 101,687,059.87 96.15
性损益的净利润
经营活动产生的现金流量净额 1,397,211,235.52 762,561,844.39 83.23
本报告期末比
本报告期末 上年度末
上年度末增减
（2017年6月30日） （2016年12月31日）
(%)
归属于上市公司股东的净资产 12,666,382,892.58 12,801,182,452.07 -1.05
总资产 42,286,403,042.61 44,196,065,201.81 -4.32
(二) 主要财务指标
本报告期 上年同期 本报告期比
主要财务指标
（2017年1至6月） （2016年1至6月） 上年同期增减(%)
基本每股收益（元／股） 0.4306 0.3718 15.81
稀释每股收益（元／股） 不适用 不适用 不适用
扣除非经常性损益后的 0.2082 0.1264 64.72
基本每股收益（元／股）
加权平均净资产收益率（%） 3.22 3.72 减少0.50个百分点
扣除非经常性损益后的加权平均
1.56 1.26 增加0.30个百分点
净资产收益率（%）
汇率
2017 年 6 月 30 日 2016 年 12 月 31 日 2016 年 6 月 30 日
1 美元对人民币元 6.7744 6.9370 6.6312
1 欧元对人民币元 7.7496 7.3068 7.3750
1 港币对人民币元 0.86792 0.89451 0.85467
注：汇率是指中国人民银行授权中国外汇交易中心公布的银行间外汇市场人民币汇率中间价。
公司主要会计数据和财务指标的说明
□适用 √不适用
八、 境内外会计准则下会计数据差异
□适用 √不适用
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
九、 非经常性损益项目和金额
√适用 □不适用
单位:元 币种:人民币
非经常性损益项目 金额 附注（如适用）
非流动资产处置损益 939,609.33
计入当期损益的政府补助，但
与公司正常经营业务密切相
锦江之星、卢浮亚洲等取得的
关，符合国家政策规定、按照 18,100,017.83
政府补贴
一定标准定额或定量持续享受
的政府补助除外
除同公司正常经营业务相关的
有效套期保值业务外，持有交
易性金融资产、交易性金融负
出售长江证券股票取得的投资
债产生的公允价值变动损益， 86,659,256.47
收益
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
根据税收、会计等法律、法规 法国卢浮集团所适用的企业所
的要求对当期损益进行一次性 111,688,518.33 得税税率调整对所得税费用的
调整对当期损益的影响 影响
除上述各项之外的其他营业外
2,314,022.83
收入和支出
铂涛集团、卢浮集团处置子公
子公司处置收益 33,507,766.71
司所取得的投资收益
少数股东权益影响额 -2,604,202.08
出售长江证券股票、取得的政
府补助、处置子公司和法国企
所得税影响额 -37,613,303.06
业所得税税率调整对所得税费
用影响等应计企业所得税额
合计 212,991,686.36
十、 其他
□适用 √不适用
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第三节 公司业务概要
一、报告期内公司所从事的主要业务、经营模式及行业情况说明
报告期内，公司所从事的主要业务为“有限服务型酒店营运及管理业务”和“食品及餐饮业
务”。
有限服务酒店，是指以适合大众消费，突出住宿核心产品，为客人提供基本的专业服务的酒
店。从酒店的功能设置来看，有限服务酒店在设备配置、组织结构、饭店服务等方面具有与全服
务酒店不同的特点。公司现有的有限服务型酒店营运及管理业务，包括对有限服务商务酒店、经
济型酒店的投资和经营管理等。经营模式上主要分为“直营经营”和“加盟特许经营”两种。直
营模式，是指通过自有物业或租赁物业的形式，使用公司旗下特定品牌独立经营酒店。公司从直
营酒店取得的收入，主要来源为客房收入及餐饮收入，并享有或承担酒店的经营收益或损失。加
盟特许经营模式，主要分为“特许经营”和“受托管理”两种形式。特许经营形式，是指公司通
过与酒店业主签署特许经营合同，将公司旗下所拥有的品牌、注册商标、经营方式、操作程序等
经营资源在约定期限内许可给受许酒店使用，并向受许酒店收取特许经营费和订房服务费。受托
管理形式，是指公司通过与酒店业主签署管理合同，将公司的管理模式、服务规范、质量标准和
管理人员等输出给受托管理酒店，并向受托管理酒店收取管理费和订房服务费。
公司现有的食品及餐饮业务，包括对餐厅的投资和经营管理等。经营模式上主要分为“直营
经营”和“加盟特许经营”两种。直营模式，是指通过租赁物业的形式，使用公司旗下特定品牌
独立经营餐厅。公司从直营餐厅取得的收入，主要来源为餐饮收入，并享有或承担餐厅的经营收
益或损失。加盟特许经营模式，主要分为“特许经营”和“受托管理”两种形式。特许经营形式，
是指公司通过与餐厅业主签署特许经营合同，将公司旗下所拥有的品牌、注册商标、经营方式、
操作程序等经营资源在约定期限内许可给受许餐厅使用，并向受许餐厅收取特许经营费等。受托
管理形式，是指公司通过与餐厅业主签署管理合同，将公司的管理模式、服务规范、质量标准和
管理人员等输出给受托管理餐厅，并向受托管理餐厅收取管理费等。公司合资公司旗下的“肯德
基”和“吉野家”等餐厅，则以合资公司形式从事相关品牌的特许经营。
根据中国证监会《2015 年 2 季度上市公司行业分类结果》，公司属于上市公司所属的 H 类住
宿和餐饮业中的 H61 住宿业。住宿业，又称酒店业，是指为旅行者提供短期留宿场所的活动，有
些单位只提供住宿，也有些单位提供住宿、饮食、商务、娱乐一体的服务，本类不包括主要按月
或按年长期出租房屋住所的活动。根据国家统计局发布的《国民经济行业分类》（GB/T4754-2011），
公司所处行业属于“旅游饭店”（行业代码：H6110）。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
酒店行业与旅游行业和商务活动密切相关，主要面向旅游市场、商务活动、会议承办及会议
展览业等市场的消费者。旅游业已经成为中国第三产业中最具活力与潜力的新兴产业，旅游业在
国民经济中的地位不断得到巩固和提高。
二、报告期内公司主要资产发生重大变化情况的说明
□适用 √不适用
三、报告期内核心竞争力分析
√适用 □不适用
经过二十余年的努力，公司已经形成并正在积极提升自己的核心竞争力。公司将经过若干年
的努力，进一步增强在“管理、品牌、网络、人才”方面的优势，确立并巩固公司在有限服务型
酒店等相关行业的市场领先地位。
报告期内，公司在做强做优做大和提高自身核心竞争力方面，作出了以下一些主要举措，并
取得了相应的成果：
围绕“十三五”战略规划，坚持“资本经营、卓越运营”两轮驱动模式，按照“基因不变、
后台整合、优势互补、共同发展”的方针，于上半年度组建“上海锦江卢浮亚洲酒店管理有限公
司”，全面启动有限服务酒店板块深度整合。
截至 2017 年 6 月 30 日，公司会员总数达到 12,648 万人。.
于 2017 年，在十七届中国饭店金马奖颁奖典礼上，中国饭店业年会组织委员会授予维也纳酒
店“最受消费者欢迎中国民族酒店品牌集团”称号；授予“锦江都城”品牌、“维也纳国际”品
牌“中国最具投资价值酒店品牌”称号；授予“康铂”品牌“中国新锐酒店品牌”称号；授予“希
尔顿欢朋”品牌“中国最具投资价值中端酒店品牌”称号；授予“派”品牌“中国最受消费者欢
迎酒店品牌”称号、“中国最具发展潜力酒店品牌”称号；授予“7 天”品牌“中国最佳经济型
连锁酒店”称号；授予“7 天优品”品牌“2016 年度经济型酒店十大影响力品牌”称号。
在 2017 年亚洲酒店论坛年会暨第十二届中国酒店星光奖颁奖典礼上，“锦江之星”品牌、“IU”
品牌获“中国最具投资价值酒店连锁品牌”称号；“锦江都城”品牌获“中国最佳中档酒店品牌”
称号；“康铂”品牌获“中国最受欢迎酒店新品牌”称号；“希尔顿欢朋”品牌获得“中国最受
欢迎中档酒店国际酒店品牌”称号；“7 天酒店”获“中国最佳经济型连锁酒店。
中国饭店协会授予“IU”品牌“中国最受年轻人欢迎酒店”称号；授予“维也纳酒店”品牌
“十佳连锁饭店品牌”称号。同时，“维也纳酒店”品牌入选中国连锁酒店中端品牌规模 20 强排
行榜。
迈点网授予“锦江之星”品牌“经济型酒店十大影响力品牌”称号、“酒店业品牌运营之星
奖”、“酒店业品牌运营人气奖”；授予“金广快捷”品牌、“百时快捷”品牌“平价酒店十大
影响力品牌”称号；授予“7 天”品牌“经济型酒店十大影响力品牌”称号；授予维也纳酒店集
团“MBI 酒店业最具影响力中档有限服务酒店品牌第一名”称号。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
旅业专业媒体“TTG CHINA-旅业报”授予“锦江之星”品牌“大中华区最佳经济型酒店”称
号；“锦江之星”品牌在中国标准化研究院与清华大学共同发起的中国顾客满意度调查中获“快
捷酒店类目第一名”称号；“锦江之星”品牌登榜“2017 年 BrandZ最具价值中国品牌 100 强”。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第四节 经营情况的讨论与分析
一、经营情况的讨论与分析
今年上半年，公司坚定不移地执行“全球布局、跨国经营”发展战略，积极实施变革整合等
措施，强化运营管理，较好地完成了今年上半年主要任务。
于 2017 年 1 至 6 月份，公司实现合并营业收入 628,901 万元，比上年同期增长 43.97%。实
现营业利润 48,154 万元，比上年同期增长 33.69%。实现归属于上市公司股东的净利润 41,245 万
元，比上年同期增长 37.87%。实现归属于上市公司股东的扣除非经常性损益后的净利润 19,946
万元，比上年同期增长 96.15%。
于 2017 年 6 月 30 日，公司资产总额 4,228,640 万元，比上年末下降 4.32%；负债总额 2,804,940
万元，比上年末下降 6.12%；归属于上市公司股东的净资产 1,266,638 万元，比上年末下降 1.05%。
于 2017 年 1 至 6 月份，公司实现经营活动产生的现金流量净额 139,721 万元，比上年同期增
长 83.23%。
报告期内，公司主要会计数据与上年同期和上年度末相比，发生变动的主要因素如下：
合并营业收入比上年同期增长，主要受三个因素的影响：一是于 2016 年 3 月份纳入财务报表
合并范围的铂涛集团今年上半年度同比新增两个月份的营业收入；二是于 2016 年 7 月份纳入财务
报表合并范围的维也纳酒店和百岁村餐饮今年上半年度同比新增六个月份的营业收入；三是卢浮
亚洲、锦江之星、卢浮集团等营业收入同比增长等所致。
实现归属于上市公司股东的净利润比上年同期增长，主要受五个因素的影响：一是因收购铂
涛集团和维也纳酒店集团的控股权，逐渐为公司贡献增量利润。该等利润贡献，已扣除为收购铂
涛集团和维也纳酒店集团等控股权新增的借款利息等因素；二是公司于 2016 年 8 月份完成非公开
发行股票工作，同比减少公司借款利息支出；三是公司取得上海肯德基、杭州肯德基、苏州肯德
基和无锡肯德基投资收益比上年同期增加；四是法国卢浮集团因所适用的企业所得税税率的下调
对所得税费用的影响；五是公司取得出售长江证券股票所得税前收益比上年同期减少。
期末总资产比上年末下降，主要是于报告期末长江证券股票公允价值下降，以及公司于 2017
年实施上年度利润分配金额比 2016 年度增加等所致。负债总额比上年末下降，主要是报告期内公
司归还银行借款，以及卢浮集团因所适用的企业所得税税率的下调对递延所得税负债的影响所致。
期末归属于上市公司所有者权益比上年末下降，主要是可供出售金融资产于报告期末公允价值下
降，以及公司于 2017 年实施上年度利润分配金额比 2016 年度增加等所致。
经营活动产生的现金流量净额比上年同期增长，主要是 2016 年 3 月份纳入合并财务报表范围
的铂涛集团今年上半年同比新增两个月份经营活动现金流量净额和 2016 年 7 月份纳入财务报表合
并范围的维也纳酒店和百岁村餐饮今年上半年同比新增六个月份经营活动现金流量净额等所致。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
有限服务型酒店业务
1、全球酒店业务发展概况
于 2017 年 1 至 6 月份，有限服务型酒店业务实现合并营业收入 616,421 万元，比上年同期增
长 45.14%；实现归属于有限服务型酒店业务分部的净利润 34,081 万元，比上年同期增长 158.60%。
中国大陆境内营业收入实现 437,028 万元，比上年同期增长 72.44%；中国大陆境外营业收入
179,392 万元,比上年同期增长 4.74%。中国大陆境内营业收入占全部酒店业务的比重为 70.90%，
中国大陆境外营业收入占全部酒店业务的比重为 29.10%。
合并营业收入中的首次加盟费收入 22,381 万元，比上年同期增长 210.24%；持续加盟费收入
88,010 万元，比上年同期增长 39.98%；中央订房系统渠道销售费收入 4,611 万元，比上年同期增
长 80.33%。
合并营业收入比上年同期增长，主要是于 2016 年 3 月份纳入财务报表合并范围的铂涛集团今
年上半年度同比新增两个月份的营业收入，于 2016 年 7 月份纳入财务报表合并范围的维也纳酒店
和百岁村餐饮今年上半年度同比新增六个月份的营业收入，以及卢浮亚洲、锦江之星、卢浮集团
等营业收入同比增长等所致。
归属于有限服务型酒店业务分部的净利润比上年同期增长，主要是因收购铂涛集团和维也纳
酒店集团的控股权，逐渐为公司贡献增量利润；以及法国卢浮集团因所适用的企业所得税税率的
下调对所得税费用的影响等所致。
于 2017 年 1 至 6 月份，净增开业有限服务型连锁酒店 429 家，其中开业直营酒店减少 16 家，
开业加盟酒店增加 445 家。截至 2017 年 6 月 30 日，已经开业的有限服务型连锁酒店合计达到 6,297
家，其中开业直营酒店 1,077 家，占比 17.10%；开业加盟酒店 5,220 家，占比 82.90%。已经开业
的有限服务型连锁酒店客房总数 609,087 间，其中开业直营酒店客房间数 120,922 间，占比
19.85%；开业加盟酒店客房间数 488,165 间，占比 80.15%。
于 2017 年 1 至 6 月份，净增签约有限服务型连锁酒店 982 家，其中签约直营酒店减少 6 家，
签约加盟酒店增加 988 家。截至 2017 年 6 月 30 日，已经签约的有限服务型连锁酒店合计达到 8,602
家，其中签约直营酒店 1,132 家，占比 13.16%；签约加盟酒店 7,470 家，占比 86.84%。已经签约
的有限服务型连锁酒店客房总数 850,257 间，其中签约直营酒店客房间数为 129,258 间，占比
15.20%；签约加盟酒店客房间数为 720,999 间，占比 84.80%。
截至 2017 年 6 月 30 日，公司旗下签约有限服务型连锁酒店分布于中国大陆境内 31 个省、自
治区和直辖市的 551 个城市，以及中国大陆境外 67 个国家或地区。
2、按地区分的有限服务型连锁酒店运营情况
（1）中国大陆境内业务运营情况
于 2017 年 1 至 6 月份，公司于中国大陆境内有限服务型连锁酒店业务实现合并营业收入
437,028 万元，比上年同期增长 72.44%；实现归属于母公司所有者的净利润 19,130 万元，比上年
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
同期增长 131.54%；合并营业收入中的首次加盟费收入 22,381 万元，比上年同期增长 210.24%；
持续加盟费收入 45,246 万元，比上年同期增长 88.00%；中央订房系统渠道销售费 4,611 万元，
比上年同期增长 80.33%。
合并营业收入比上年同期增长，主要受三个因素的影响：一是于 2016 年 3 月份纳入财务报表
合并范围的铂涛集团今年上半年度同比新增两个月份的营业收入；二是于 2016 年 7 月份纳入财务
报表合并范围的维也纳酒店和百岁村餐饮今年上半年度同比新增六个月份的营业收入；三是卢浮
亚洲和锦江之星等营业收入同比增长等所致。
归属于母公司的净利润比上年同期增长，主要是因收购铂涛集团和维也纳酒店集团的控股权，
逐渐为公司贡献增量利润所致。
下表列示了公司截至 2017 年 6 月 30 日中国大陆境内有限服务型酒店家数和客房间数情况：
省(或 中国大陆境内开业酒店 中国大陆境内签约酒店
直辖市、 分布城市数 直营酒店 加盟酒店 直营酒店 加盟酒店
自治区) 酒店家数 客房间数 酒店家数 客房间数 酒店家数 客房间数 酒店家数 客房间数
北京 1 46 5,966 248 22,784 50 6,379 315 28,928
天津 1 13 1,800 102 8,920 14 1,955 153 12,964
河北 29 5 674 193 15,013 5 674 289 23,004
山西 21 20 2,473 90 7,780 22 2,878 130 11,365
内蒙古 14 1 128 50 4,704 1 128 79 7,463
辽宁 18 28 3,601 98 9,501 28 3,601 128 12,121
吉林 13 13 1,672 35 3,294 13 1,672 62 6,232
黑龙江 9 8 843 46 3,871 8 843 72 6,400
上海 1 60 8,224 209 25,056 73 10,454 260 30,962
江苏 50 63 7,272 399 37,162 69 8,166 562 52,793
浙江 34 34 4,702 125 12,220 37 5,116 197 20,919
安徽 26 14 1,720 91 7,277 15 1,830 167 14,229
福建 16 17 2,154 72 7,445 17 2,154 106 11,022
江西 21 30 3,356 125 11,589 30 3,356 195 19,257
山东 41 20 2,224 309 27,108 21 2,339 476 41,901
河南 27 8 1,324 168 15,762 10 1,813 238 23,209
湖北 23 44 5,276 152 14,186 45 5,386 247 24,300
湖南 26 54 5,707 143 13,832 56 5,913 248 25,629
广东 31 164 22,688 710 79,171 172 23,966 1,099 124,934
广西 14 16 2,358 83 9,900 16 2,358 192 24,584
海南 8 9 1,075 40 4,354 9 1,075 63 7,425
重庆 1 15 1,750 99 7,581 15 1,750 136 10,620
四川 34 39 4,668 199 16,133 39 4,668 292 24,258
贵州 14 18 1,813 101 9,363 18 1,813 151 14,956
云南 18 9 958 57 4,616 10 1,164 92 8,295
西藏 5 2 218 11 1,136 2 218 15 1,426
陕西 10 23 2,604 134 12,688 25 2,789 185 17,979
甘肃 17 5 470 48 4,077 5 470 89 8,481
青海 4 4 267 33 2,706 4 267 51 4,301
宁夏 5 4 522 20 1,867 4 522 35 3,297
新疆 19 5 580 37 2,474 7 829 68 5,092
合计 551 791 99,087 4,227 403,570 840 106,546 6,392 628,346
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
（2）中国大陆境外业务运营情况
于 2017 年 1 至 6 月份，公司于中国大陆境外有限服务型连锁酒店业务实现合并营业收入
24,189 万欧元，比上年同期增长 2.55%；实现归属于母公司所有者的净利润 2,005 万欧元，比上
年同期增长 196.16%。
合并营业收入比上年同期增长，主要是法国卢浮集团于 1 月份完成印度 Sarovar74%股权收购
并将其纳入财务报表合并范围等所致。归属于母公司所有者净利润的增长，主要是法国卢浮集团
因所适用的企业所得税税率的下调对所得税费用的影响等所致。
下表列示了公司截至 2017 年 6 月 30 日中国大陆境外有限服务型酒店家数和客房间数情况：
中国大陆境外开业酒店 中国大陆境外签约酒店
中国大陆 直营酒店 加盟酒店 直营酒店 加盟酒店
境外国家
酒店 客房 酒店 客房 酒店 客房 酒店 客房
（或地区）
家数 间数 家数 间数 家数 间数 家数 间数
欧洲 283 21,557 729 50,776 289 22,434 748 52,468
其中：法国 196 14,083 640 40,901 196 14,083 658 42,474
亚洲 2 208 179 19,742 2 208 229 24,557
美洲 - - 36 6,743 - - 37 7,003
非洲 1 70 49 7,334 1 70 64 8,625
合计 286 21,835 993 84,595 292 22,712 1,078 92,653
3、按品牌分的有限服务型连锁酒店运营情况
在 2017 年 1 至 6 月份净增开业的有限服务型连锁酒店 429 家中，“锦江都城”品牌连锁酒店
增加 2 家，“锦江之星”品牌连锁酒店增加 41 家，“百时快捷”品牌连锁酒店减少 4 家；“Première
Classe”品牌连锁酒店减少 1 家，“Campanile”品牌连锁酒店减少 2 家，“Kyriad”系列品牌连
锁酒店减少 5 家，“Golden Tulip”系列品牌连锁酒店减少 9 家；“Sarovar”系列品牌增加 71
家；“麗枫”品牌连锁酒店增加 46 家，“喆啡”品牌连锁酒店增加 14 家，“IU”品牌连锁酒店
增加 19 家，“七天”系列品牌连锁酒店增加 40 家，“派”品牌连锁酒店增加 59 家，铂涛旗下其
他品牌连锁酒店增加 41 家；“维也纳国际”品牌连锁酒店增加 41 家，“维也纳智好”品牌连锁
酒店增加 16 家，“维也纳酒店”品牌连锁酒店增加 44 家，“维也纳 3 好”品牌连锁酒店增加 15
家，维也纳旗下其他品牌连锁酒店增加 1 家。
截至 2017 年 6 月 30 日，已经开业的有限服务型连锁酒店合计为 6,297 家，“锦江都城”品
牌连锁酒店 45 家，“锦江之星”品牌连锁酒店 1,052 家，“金广快捷”品牌连锁酒店 28 家，“百
时快捷”品牌连锁酒店 56 家；“康铂”品牌连锁酒店 1 家；Première Classe”品牌连锁酒店 263
家，“Campanile”品牌连锁酒店 377 家，“Kyriad”系列品牌连锁酒店 254 家,“Golden Tulip”
系列品牌连锁酒店 311 家，“Sarovar”系列品牌 71 家；“麗枫”品牌连锁酒店 215 家，“喆啡”
品牌连锁酒店 77 家，“IU”品牌连锁”酒店 154 家，“七天”系列品牌连锁酒店 2,464 家，“派”
品牌连锁酒店 222 家，铂涛旗下其他品牌连锁酒店 126 家；“维纳斯皇家”品牌连锁酒店 3 家，
15
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
“维也纳国际”品牌连锁酒店 181 家，“维也纳智好”品牌连锁酒店 166 家，“维也纳酒店”品
牌连锁酒店 174 家，“维也纳 3 好”品牌连锁酒店 56 家，维也纳旗下其他品牌连锁酒店 1 家。
截至 2017 年 6 月 30 日，已经签约的有限服务型连锁酒店 8,602 家中，“锦江都城”品牌连
锁酒店 90 家；“锦江之星”品牌连锁酒店 1,216 家，“金广快捷”品牌连锁酒店 42 家，“百时
快捷”品牌连锁酒店 57 家，“康铂”品牌连锁酒店 4 家；“Première Classe”品牌连锁酒店 269
家，“Campanile”品牌连锁酒店 383 家，“Kyriad”系列品牌连锁酒店 261 家，“Golden Tulip”
系列品牌连锁酒店 341 家，“Sarovar”系列品牌 86 家；“麗枫”品牌连锁酒店 493 家，“喆啡”
品牌连锁酒店 199 家，“IU”品牌连锁酒店 208 家，“七天”系列品牌连锁酒店 2,895 家，“派”
品牌连锁酒店 329 家，铂涛旗下其他品牌连锁酒店 447 家；“维纳斯皇家”品牌连锁酒店 6 家，
“维也纳国际”品牌连锁酒店 372 家，“维也纳智好”品牌连锁酒店 263 家，“维也纳酒店”品
牌连锁酒店 420 家，“维也纳 3 好”品牌连锁酒店 212 家，维也纳旗下其他品牌连锁酒店 9 家。
“锦江都城”、“锦江之星”等品牌系列的 RevPAR 及其与上年同期比较的情况
下表列示了 2017 年 1 至 6 月份“锦江都城”、“锦江之星”、“金广快捷”和“百时快捷”
四个品牌的 RevPAR 及其与上年同期比较的情况：
平均房价 平均出租率 RevPAR
锦江都城系列 （人民币元/间） （%） (人民币元/间)
品牌 2017 年 2016 年 2017 年 2016 年 2017 年 2016 年 同比增减
1至6月 1至6月 1至6月 1至6月 1至6月 1至6月 （%）
锦江都城 318.48 311.99 67.50 70.12 214.97 218.77 -1.74
锦江之星 180.50 182.13 76.54 75.38 138.15 137.29 0.63
金广快捷 153.80 151.97 67.15 56.79 103.28 86.30 19.68
百时快捷 95.33 99.32 62.87 62.59 59.93 62.16 3.59
平均 184.43 183.80 75.72 74.09 139.65 136.18 2.55
注：自 2016 年 5 月起，实施“营改增”政策。2017 年 1 至 6 月份平均房价和 RevPAR 不含流
转税。
截至 2017 年 6 月 30 日，上述有限服务型连锁酒店品牌分布于中国境内 31 个省、自治区和直
辖市的 346 个城市，以及中国大陆境外 3 个国家或地区。
“麗枫”、“喆啡”等品牌系列的 RevPAR 情况
下表列示了 2017 年 1 至 6 月份“麗枫”、“喆啡”、“IU”、“七天”系列、派和铂涛集团
其他品牌的 RevPAR 情况：
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
平均房价 平均出租率 RevPAR
铂涛系列 （人民币元/间） （%） (人民币元/间)
品牌 2017 年 2016 年 2017 年 2016 年 2017 年 2016 年
1至6月 3至6月 1至6月 3至6月 1至6月 3至6月
麗枫 259.31 260.16 81.02 79.14 210.09 205.89
喆啡 227.04 234.95 72.99 61.84 165.72 145.29
IU 162.81 164.93 83.71 81.14 136.29 133.82
七天系列 138.36 141.52 79.52 83.05 110.02 117.53
派 129.80 135.37 74.18 78.34 96.29 106.05
其他品牌 243.53 239.02 71.37 52.69 173.81 125.94
平均 151.50 149.01 79.20 81.81 119.99 121.91
注：自 2016 年 5 月起，实施“营改增”政策。2017 年 1 至 6 月份平均房价和 RevPAR 不含流
转税。
截至 2017 年 6 月 30 日，上述有限服务型连锁酒店品牌分布于中国境内 31 个省、自治区和直
辖市的 457 个城市，以及中国大陆境外 13 个国家或地区。
“维纳斯皇家”、“维也纳国际”等品牌系列的 RevPAR 情况
下表列示了 2017 年 1 至 6 月份“维纳斯皇家”、“维也纳国际”、“维也纳智好”、“维也
纳酒店”和“维也纳 3 好”五个品牌的 RevPAR 情况：
2017 年 1 至 6 月 2017 年 1 至 6 月 2017 年 1 至 6 月
维也纳系列品牌
平均房价(元/间) 平均出租率（%） RevPAR(元/间)
维纳斯皇家 312.87 56.37 176.36
维也纳国际 253.51 86.23 218.60
维也纳智好 238.05 89.03 211.94
维也纳酒店 225.37 88.63 199.75
维也纳 3 好 214.35 88.22 189.10
维也纳其他 156.61 95.14 149.00
平均 239.75 87.36 209.45
注：自 2016 年 5 月起，实施“营改增”政策。2017 年 1 至 6 月份平均房价和 RevPAR 不含流
转税。
截至 2017 年 6 月 30 日，上述有限服务型连锁酒店品牌分布于中国境内 31 个省、自治区和直
辖市的 249 个城市。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
“Campanile”、“Golden Tulip”等品牌系列的 RevPAR 情况
下表列示了 2017 年 1 至 6 月份“Première Classe”、“Campanile”、“Kyriad”和“Golden
Tulip”系列四个品牌的 RevPAR 及其与上年同期比较的情况：
平均房价 平均出租率 RevPAR
(欧元/间) （%） (欧元/间)
品牌
2017 年 2016 年 2017 年 2016 年 2017 年 2016 年 同比
1至6月 1至6月 1至6月 1至6月 1至6月 1至6月 增减（%）
Première Classe 38.96 40.26 66.97 62.55 26.09 25.18 3.61
Campanile 57.95 59.14 65.06 62.87 37.70 37.18 1.40
Kyriad 系列 61.81 62.90 60.89 58.49 37.64 36.79 2.31
Golden Tulip 系列 68.26 69.09 54.90 54.70 37.47 37.79 -0.85
平均 57.26 58.37 61.35 59.40 35.13 34.67 1.33
截至 2017 年 6 月 30 日，上述有限服务型连锁酒店品牌分布于中国境内 9 个省、自治区和直
辖市的 12 个城市，以及中国大陆境外 61 个国家或地区。
预计 2017 年第三季度公司全部有限服务型连锁酒店运营及管理业务收入为 336,100 万元至
371,600 万元，其中中国大陆境内业务收入 238,600 万元至 263,800 万元，中国大陆境外业务收
入 13,080 万欧元至 14,460 万欧元。鉴于经营过程中存在各种不确定性，预计数据最终与定期报
告数据存在差异，因而该等预计数据谨供投资者参考。
食品及餐饮业务
于 2017 年 1 至 6 月份，食品及餐饮业务实现合并营业收入 12,472 万元，比上年同期增长
3.07%；主要是从事团膳业务的锦江食品营业收入比上年同期增长，以及从事中式快餐连锁的锦亚
餐饮营业收入比上年同期下降等共同影响所致。归属于食品及餐饮业务分部的净利润 10,518 万
元，比上年同期增长 33.27%；主要原因：一是上海肯德基因营业收入比上年同期增长，报告期内
公司取得的投资收益比上年同期增加 1,080 万元；二是公司以“成本法”核算投资收益的苏州肯
德基、无锡肯德基和杭州肯德基 2016 年度股利比上年增加 1,692 万元。
以下列示了部分食品及餐饮企业的上半年度营业收入和上半年末连锁营业门店数量情况：
公司持有 100%股权的上海锦江国际食品餐饮管理有限公司于 2017 年上半年度实现营业收入
8,039 万元，比上年同期增长 9.46%；报告期末管理团膳餐厅为 60 家，上年末为 55 家。
公司持有 100%股权的上海锦亚餐饮管理有限公司于 2017 年上半年度实现营业收入 3,199 万
元，比上年同期下降 4.71%；报告期末连锁门店总数为 30 家，其中点心小铺 3 家；上年末连锁门
店总数为 31 家，其中点心小铺 3 家。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
公司持有 100%股权的上海新亚食品有限公司于 2017 年上半年度实现营业收入 211 万元，比
上年同期增长 2.98%。
公司持有 100%股权的上海锦箸餐饮管理有限公司于 2017 年上半年度实现营业收入 314 万元，
比上年同期下降 44.89%；报告期末餐厅总数为 2 家，上年末为 1 家。
公司持有 51%股权的上海锦江同乐餐饮管理有限公司于 2017 年上半年度实现营业收入 980 万
元，比上年同期增长 7.81%；报告期末餐厅总数为 2 家，与上年末相同。
公司持有 42.815%股权的上海吉野家快餐有限公司于 2017 年上半年度实现营业收入 1,959 万
元，比上年同期增长 3.60%；报告期末连锁餐厅总数为 9 家，上年末为 8 家。
公司持有 42%股权的上海肯德基有限公司于 2017 年上半年度实现营业收入 151,323 万元，比
上年同期增长 3.01%；报告期末连锁餐厅总数为 304 家，上年末为 306 家。
公司持有 41%股权的上海新亚富丽华餐饮股份有限公司于 2017 年上半年度实现营业收入
13,153 万元，比上年同期增长 6.43%。
(一) 主营业务分析
1 财务报表相关科目变动分析表
单位:元 币种:人民币
科目 本期数 上年同期数 变动比例（%）
营业收入 6,289,013,150.53 4,368,181,085.26 43.97
营业成本 603,775,121.43 434,096,326.04 39.09
销售费用 3,631,647,717.77 2,618,711,542.75 38.68
管理费用 1,512,207,360.64 960,758,802.61 57.40
财务费用 218,769,598.00 229,518,074.47 -4.68
其他收益 18,100,017.83 0.00 不适用
营业外收入 14,972,281.20 73,500,212.36 -79.63
非流动资产处置利得 3,127,579.88 10,884,656.02 -71.27
营业外支出 26,643,327.22 13,456,304.48 98.00
非流动资产处置损失 17,112,648.73 3,907,744.46 337.92
所得税费用 18,794,301.05 116,845,075.66 -83.92
少数股东损益 38,618,541.47 4,234,793.72 811.93
经营活动产生的现金流量净额 1,397,211,235.52 762,561,844.39 83.23
投资活动产生的现金流量净额 -704,643,142.19 -8,248,288,904.42 不适用
筹资活动产生的现金流量净额 -1,851,466,122.55 9,701,010,615.97 不适用
公司于 2016 年 2 月底完成股权交割起，将铂涛集团纳入合并财务报表范围。于 2017 年 1 至
6 月份，铂涛集团营业收入 183,855 万元，净利润 10,026 万元，经营活动产生的现金净流入额
48,462 万元，投资活动产生的现金净流出额 2,052 万元，筹资活动产生的现金净流出额 19,867
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
万元。公司于 2016 年 7 月 1 日完成股权交割起，将维也纳酒店和百岁村餐饮纳入财务报表合并范
围。于 2017 年 1 到 6 月份，维也纳酒店营业收入 102,699 万元，净利润 9,485 万元，经营活动产
生的现金净流入额 27,732 万元，投资活动产生的现金净流出额 13,061 万元，筹资活动产生的现
金净流出额 1,095 万元；百岁村餐饮营业收入 14,774 万元，净利润-399 万元，经营活动产生的
现金净流出额 147 万元，投资活动产生的现金净流出额 375 万元，筹资活动产生的现金净流入额
0 万元。该等事项引起公司合并利润表和合并现金流量表相关项目报告期金额与上年同期金额相
比，发生大幅变动。下述分析中，恕不再对该等事项所引起的金额变动及其原因一一赘述。
于报告期内，合并利润表部分项目和合并现金流量表项目的变动金额及其主要原因如下所述。
⑴ 营业收入
本期6,289,013,150.53元，上年同期4,368,181,085.26元，本期比上年同期增长43.97%。主
要是于2016年3月份纳入财务报表合并范围的铂涛集团今年上半年度同比新增两个月份的营业收
入，于2016年7月份纳入财务报表合并范围的维也纳酒店和百岁村餐饮今年上半年度同比新增六个
月份的营业收入，以及卢浮亚洲、锦江之星、卢浮集团等营业收入同比增长等所致。
⑵ 其他收益
本期18,100,017.83元，上年同期0元，本期比上年同期增加18,100,017.83元。主要是根据新
修订相关会计准则的规定，将与经营活动有关的政府补助收入单独列报“其他收益”项目等变动
所致。
⑶ 营业外收入
本期14,972,281.20元，上年同期73,500,212.36元，本期比上年同期下降79.63%。主要是根
据新修订相关会计准则的规定，将与经营活动有关的政府补助收入单独列报“其他收益”项目，
以及卢浮集团上年同期预计的诉讼赔偿款转回等共同影响所致。
⑷ 非流动资产处置利得
本期3,127,579.88元，上年同期10,884,656.02元，本期比上年同期下降71.27%。主要是卢浮
集团所属酒店上年同期因市政动迁，取得动迁补偿款所致。
⑸ 营业外支出
本期26,643,327.22元，上年同期13,456,304.48元，本期比上年同期增长98.00%。主要是铂
涛集团处置门店损失较上年同期增加所致。
⑹ 非流动资产处置损失
本期17,112,648.73元，上年同期3,907,744.46元，本期比上年同期增长337.92%。主要是铂
涛集团处置门店损失较上年同期增加所致。
⑺ 所得税费用
本期18,794,301.05元，上年同期116,845,075.66元，本期比上年同期下降83.92%。主要是法
国卢浮集团因所适用的企业所得税税率的下调对所得税费用的影响所致。
20
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
⑻ 经营活动产生的现金流量净额
本期1,397,211,235.52元，上年同期762,561,844.39元,增长83.23%。主要是公司本部缴纳企
业所得税较去年同期减少，于2016年3月份纳入合并财务报表范围的铂涛集团今年上半年度同比新
增两个月份经营活动现金流量净额，以及2016年7月份纳入财务报表合并范围的维也纳酒店和百岁
村餐饮今年上半年度同比新增六个月份经营活动现金流量净额等所致。
⑼ 投资活动产生的现金流量净额
本期-704,643,142.19元，上年同期-8,248,288,904.42元，净流出额减少7,543,645,762.23
元。主要是上年同期支付受让铂涛集团81.0034%股权价款所致。
⑽ 筹资活动产生的现金流量净额
本期-1,851,466,122.55元，上年同期9,701,010,615.97，净流出增加11,552,476,738.52元。
主要是本期融入银行借款比上年同期减少，偿还银行借款和分配股利比上年同期增加等共同影响
所致。
2 其他
(1) 公司利润构成或利润来源发生重大变动的详细说明
√适用 □不适用
如前所述，本公司主要从事有限服务型酒店营运及管理、食品及餐饮两大业务。同时，公司
持有一定数额的可供出售金融资产（包括但不限于长江证券股票）。公司的利润来源主要由这三
个方面收益构成。报告期内利润变动受该三方面的影响为：一是因收购铂涛集团和维也纳酒店集
团控股权，逐渐为公司贡献增量利润。该等利润贡献，已扣除为收购铂涛集团和维也纳酒店集团
等控股权新增的借款利息等因素；以及法国卢浮集团因所适用的企业所得税税率的下调对所得税
费用的影响。二是公司取得的上海肯德基、杭州肯德基、苏州肯德基和无锡肯德基投资收益同比
增加。三是公司取得出售长江证券股票所得税前收益同比减少。另外，公司于 2016 年 8 月份完成
非公开发行股票工作，与上年同期相比，借款利息减少。
(2) 其他
□适用 √不适用
(二) 非主营业务导致利润重大变化的说明
□适用 √不适用
(三) 资产、负债情况分析
√适用 □不适用
21
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
1. 资产及负债状况
单位：元
本期期
本期期末 上期期末 末金额
数占总资 数占总资 较上期
项目名称 本期期末数 上期期末数
产的比例 产的比例 期末变
（%） （%） 动比例
（%）
应收账款 892,513,312.63 2.11 633,618,747.68 1.43 40.86
应收利息 351,097,117.18 0.83 142,433,131.74 0.32 146.50
应收股利 40,741,672.29 0.10 15,129,696.45 0.03 169.28
其他非流动资产 83,039,556.26 0.20 3,616,245,114.60 8.18 -97.70
短期借款 959,177,065.36 2.27 4,127,927,127.66 9.34 -76.76
应付利息 24,255,363.82 0.06 48,865,337.58 0.11 -50.36
应付股利 2,196,167.45 0.01 429,303.93 0.00 411.56
一年内到期的非流
6,276,689,598.17 14.84 3,075,199,327.56 6.96 104.11
动负债
预计负债 32,440,189.51 0.08 49,921,877.75 0.11 -35.02
其他非流动负债 160,364,091.33 0.38 117,626,648.42 0.27 36.33
于报告期内，合并资产负债表项目的变动金额及其主要原因如下所述。
⑴ 应收账款
期末 892,513,312.63 元，期初 633,618,747.68 元，增长 40.86%。主要是本期末法国卢浮集
团将印度 Sarovar 纳入财务报表合并范围，旅馆投资公司应收租赁价款增加、锦江之星应收电商
订房费增加，以及维也纳应收账款增加等共同影响所致。
⑵ 应收利息
期末 351,097,117.18 元，期初 142,433,131.74 元，增长 146.50%。主要是三年期银行定期
存款将于 2018 年 5 月份到期所致。
⑶ 应收股利
期末 40,741,672.29 元，期初 15,129,696.45 元，增长 169.28%。主要是本期末应收杭州肯
德基、苏州肯德基和无锡肯德基 2016 年度股利所致。
⑷ 其他非流动资产
期末 83,039,556.26 元，期初 3,616,245,114.60 元，下降 97.70%。主要是三年期银行定期
存款将于 2018 年 5 月份到期所致。
⑸ 短期借款
期末 959,177,065.36 元，期初 4,127,927,127.66 元，下降 76.76%。主要是本期偿还短期借
款所致。
22
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
⑹ 应付利息
期末 24,255,363.82 元，期初 48,865,337.58 元，下降 50.36%。主要是本期银行借款同比减
少、应付中国进出口银行部分融资费用于 2017 年 2 月份支付等所致。
⑺ 应付股利
期末 2,196,167.45 元，期初 429,303.93 元，增长 411.56%。主要是锦江之星应付少数股东
股利所致。
⑻ 预计负债
期末 32,440,189.51 元，期初 49,921,877.75 元。下降 35.02%。主要是卢浮集团上年计提的
相关员工激励费用重分类至应付职工薪酬，以及铂涛集团新增诉讼费用等共同影响所致。
⑼ 其他非流动负债
期末 160,364,091.33 元，期初 117,626,648.42 元，增长 36.33%。主要是锦江之星收到动迁
款所致。
2. 截至报告期末主要资产受限情况
√适用 □不适用
截至报告期末，公司受限资产总额为 73.40 亿元，具体请详见“第十节 财务报告”中的“（五）
合并财务报表项目注释/50、所有权或使用权受到限制的资产”。
3. 其他说明
□适用 √不适用
(四) 投资状况分析
1、 对外股权投资总体分析
√适用 □不适用
于报告期内，公司新增对外股权投资总额 52,615 万元，比上年同期减少 770,047 万元，下
降 93.60%。
⑴ 1 月，本公司出资 174,880,000 元人民币，支付受让维也纳酒店 80%股权款尾款；出资
80,000 元人民币，支付受让百岁村餐饮 80%股权款尾款。截至 2017 年 6 月 30 日，本公司分别持
有维也纳酒店 80%股权及百岁村餐饮 80%股权。
⑵ 1 月，本公司全资子公司法国卢浮集团出资 33,164,000 欧元，折合人民币 247,240,936.40
元，受让 Sarovar Hotels Private Limited74%股权。截至 2017 年 6 月 30 日，卢浮集团持有 Sarovar
Hotels Private Limited74%股权。
⑶ 1 月，本公司全资子公司法国卢浮集团出资 395,000 欧元，折合人民币 2,944,764.50 元,
支付受让 Nordic Hotel AG Kiel GmbH、Nordic Hotels Düsseldorf GmbH、Nordic Hotels München
GmbH、Nordic Hotels Hamburg GmbH、Nordic Hotels Berlin GmbH、Nordic Hotels Dnischer Hof
Betriebs GmbH、Nordic Hotel Bielefeld GmbH、DOMICIL Hotel Betriebs GmbH 和 Nordic Hotels
23
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
Lübeck GmbH 9 家公司 100%股权的尾款。截至 2017 年 6 月 30 日，卢浮集团持有上述公司 100%的
股权。
⑷ 2 月，本公司出资人民币 100,000,000 元与锦江资本、上海联银创业投资有限公司、锦江
酒店集团、西藏弘毅夹层投资管理中心（有限合伙）、国盛投资作为发起人共同投资设立上海齐
程网络科技有限公司。截至 2017 年 6 月 30 日，本公司持有上海齐程网络科技有限公司 10%股权。
⑸ 2 月，铂涛集团全资子公司广州铂海投资合伙企业（有限合伙）出资 1,000,000 元人民币,
成立广州遇乐网络有限公司。截至 2017 年 6 月 30 日，铂涛集团持有广州遇乐网络有限公司 6%股
权。
(1) 重大的股权投资
□适用 √不适用
(2) 重大的非股权投资
□适用 √不适用
(3) 以公允价值计量的金融资产
√适用 □不适用
占期末证
序 证券 证券 最初投资金额 持有数量 期末账面价值 报告期损益
证券代码 券总投资
号 品种 简称 （元） （股） （元） （元）
比例（%）
申万
1 股票 000166 10,000,000.00 14,969,564 83,829,558.40 7.37 1,496,956.40
宏源
长江
2 股票 000783 82,686,203.42 53,000,000 501,909,999.99 44.15 94,609,256.47
证券
全聚
3 股票 002186 56,408.72 95,608 1,936,062.00 0.17 22,945.92
德
交通
4 股票 601328 1,540,945.00 1,013,771 6,244,829.36 0.55 0.00
银行
Ocean
5 BT 396,252,722.55 542,931,817.86 47.76 0.00
L.P.
合计 490,536,279.69 / 1,136,852,267.61 100.00 96,129,158.79
注：1、“报告期损益”指本公司于报告期内所获得的持有期间现金股利收入和出售部分股票的所
得税前收益。
2、于 2016 年 12 月 31 日，本公司持有长江证券 6,300 万股，占长江证券总股本的 1.14%。
于 2017 年 3 月 22 日至 3 月 27 日，公司通过深圳证券交易所系统出售长江证券股份 1,000 万股，
扣除成本和相关交易税费后取得所得税前投资收益 8,665.93 万元；截至 2017 年 6 月 30 日，本公
司持有长江证券股份 5,300 万股，占长江证券总股本的 0.96%。
3、于报告期间内，铂涛集团将原通过 Ocean Imagination L.P.持有的 eLong Inc. (“艺龙”)
股权转至 Ocean Imagination L.P. 普通合伙人 Ocean Voyage L.P.新设的合伙企业 Ocean BT L.P.。
24
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
Keystone 成为 Ocean BT L.P.的有限合伙人，并通过 Ocean BT L.P.持有原艺龙的股权。本公司
将对 Ocean BT L.P.的股权投资确认为可供出售金融资产。
(五) 重大资产和股权出售
□适用 √不适用
(六) 主要控股参股公司分析
√适用 □不适用
单位：万元 币种：人民币
2017 年 2017 年
2017 年
2017 年 6 月 30 日 2017 年 1 至 6 月份
6 月30 日
公司名称 主营业务 6 月30 日 归属于 1 至 6 月份 归属于
持股比例
注册资本 母公司的 营业收入 母公司的
（注 6）
净资产 净利润
一、 有限服务型连锁酒店业务
（主要部分）：
有限服务商
1、上海锦江卢浮亚洲酒店管理有限
务酒店的投 100% 5,000 8,552 6,766 2,407
公司 资、经营管理
有限服务型
2、锦江之星旅馆有限公司 酒店的租赁 100% 17,971 68,462 68,845 7,582
经营、管理
旅馆业的投
3、上海锦江国际旅馆投资有限公司 100% 152,500 188,974 43,358 -2,553
资
有限服务型
其中子公司：山西金广快捷酒店管
酒店的租赁 100% 6,833 14,070 3,500 274
理有限公司（注 1）
经营、管理
有限服务型
4、时尚之旅酒店管理有限公司 酒店住宿、餐 100% 60,000 92,864 11,107 1,500
饮管理
5、上海锦卢投资管理有限公司 投资管理 100% 35,000 90,881 180,331 15,698
其中子公司：卢浮集团（注 2） 经营酒店及 26,204
100% 17,484 24,189 1,168
（Groupe du Louvre） 餐饮 万欧元
6、Keystone Lodging Holdings 经营酒店及
Limited（注 3） 81.0034% 1 万美元 343,876 183,855 10,026
餐饮
7、维也纳酒店有限公司（注 4） 经营酒店 80% 11,639 77,076 102,699 9,485
8、深圳市百岁村餐饮连锁有限公司
公司（注 4） 餐饮业务 80% 100 622 14,774 -399
经营酒店及
9、上海锦江达华宾馆有限公司 100% 3,170 -885 872 -126
餐饮
经营酒店及
10、上海闵行饭店有限公司 100% 769 678 1,375 106
餐饮
25
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
二、食品及餐饮业务（主要部分）：
餐饮业开发
1、上海锦江国际餐饮投资管理有限
管理、国内 100% 14,993 5,344 12,704 -1,719
公司
贸易
其中子公司：⑴上海锦江国际食品
餐饮管理有限公司 餐饮业务 100% 1,000 1,646 8,039 347
（注 5）
⑵上海锦亚餐饮管理
中西餐饮 100% 6,867 -5,636 3,199 -1,514
有限公司（注 5）
⑶上海新亚食品有限 生产月饼及
100% 1,142 -681 211 -246
公司（注 5） 冷冻食品
⑷上海锦箸餐饮管理
餐饮业务 100% 1,000 -1,529 314 -59
有限公司（注 5）
⑸上海锦江同乐餐饮
中西餐饮 51% 1,890 -95 980 -17
管理有限公司（注 5）
联营公司：⑴上海吉野家快餐有限 1,230
日式快餐 42.815% 496 1,959 2
公司（注 5） 万美元
⑵上海静安面包房有限 生产和销售 383
14.63% -39 5,450 12
公司（注 5） 面包糕点 万美元
2,701
2、上海肯德基有限公司 西式快餐 42% 37,279 151,323 13,482
万美元
3、上海新亚富丽华餐饮股份有限公
中式餐饮 41% 3,500 7,149 13,153 902
司
2,150
4、杭州肯德基有限公司 西式快餐 8% 48,510 220,902 30,083
万美元
334.8
5、无锡肯德基有限公司 西式快餐 8% 11,712 62,160 6,631
万美元
1,000
6、苏州肯德基有限公司 西式快餐 8% 22,394 119,271 14,382
万美元
三、其他业务（主要部分）：
证券经纪、证
长江证券股份有限公司 0.96% 552,947 2,594,114 276,364 99,502
券投资咨询
注：1、山西金广快捷酒店管理有限公司系上海锦江国际旅馆投资有限公司之全资子公司。
2、注册于法国的卢浮集团的 100%股权为上海锦卢投资管理有限公司依次透过其全资子公司
上海锦江股份（香港）有限公司和卢森堡海路投资有限公司持有。
3、于 2016 年 2 月底公司完成对 Keystone Lodging Holdings Limited 81.0034%股权的交割。
4、于 2016 年 7 月 1 日，公司分别完成对维也纳酒店 80%股权及百岁村餐饮 80%股权的交割。
5、上海锦江国际食品餐饮管理有限公司的 82%股权、上海新亚食品有限公司的 95%股权、上
海锦箸餐饮管理有限公司 100%股权、上海锦亚餐饮管理有限公司 100%股权、上海锦江同乐餐饮管
26
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
理有限公司的 51%股权和上海吉野家快餐有限公司的 42.815%股权为上海锦江国际餐饮投资管理
有限公司所持有。上海静安面包房有限公司的 14.63%股权为上海锦江国际餐饮投资管理有限公司
所持有，后者对其能够施加重大影响。本公司持有上海锦江国际餐饮投资管理有限公司的 100%股
权、上海新亚食品有限公司的 5%股权、上海锦江国际食品餐饮管理有限公司的 18%股权。
6、表中期末持股比例为本公司直接或间接持有被投资单位的股权比例。
(七) 公司控制的结构化主体情况
□适用 √不适用
二、其他披露事项
(一) 预测年初至下一报告期期末的累计净利润可能为亏损或者与上年同期相比发生大幅度变动
的警示及说明
□适用 √不适用
(二) 可能面对的风险
√适用 □不适用
1、宏观经济波动的风险
有限服务型酒店行业和连锁餐饮企业的景气度与国家宏观经济的周期波动呈正相关的关系。
虽然我国国民经济总体上一直保持持续增长的态势，但是也会受到国际经济金融形势变化的影响，
出现周期性波动。在宏观经济增长率下降的阶段，由于居民实际收入预期下降，居民国内旅游出
行和外出就餐的消费相应降低。同时，宏观经济的调整对中小企业的经营会造成较大的压力，中
小企业雇员商务出行及其消费也会相应缩减。从而对本公司的财务状况和经营成果造成不利的影
响。
2、经营成本上升的风险
在公司投资的“锦江都城”、“锦江之星”和“Campanile”、铂涛、维也纳等有限服务型酒
店和连锁餐饮企业的经营成本中，直营酒店的固定资产折旧摊销和租赁物业的租金等固定成本所
占比重较大。虽然公司对租赁物业的租金采取直线法进行摊销，平滑了租赁成本对未来经营业绩
的影响。但是，由于“锦江之星”和“Campanile”、铂涛、维也纳等酒店和连锁餐饮企业需要持
续扩张直营门店数量，每年新增租赁直营店的租金成本会随着我国商业地产价格的变动而变动。
与此同时，主要有限服务型酒店品牌和连锁餐饮品牌企业会在重要城市交通便利的繁华地段对适
合开设有限服务型酒店和连锁餐饮企业的物业进行竞争租赁，该等竞争因素会促使租金水平进一
步上升。
除此以外，门店固定资产设施的追加投入、人工成本和能源成本等都存在随着物价变动出现
上升的可能。如果平均房价和入住率，以及人均消费水平和消费人次不能得到相应的提高，该等
成本上升因素可能会对公司的有限服务型酒店和连锁餐饮企业的经营成果造成不利影响。
27
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
3、扩张速度的风险
有限服务型酒店行业在我国目前正处于快速发展阶段。虽然包括本公司在内的一些优势企业
已经取得了较大的市场份额和领先地位，但是由于市场需求和行业增长空间很大，在未来几年内，
各主要企业仍将进一步扩张门店数量，特别是在经济型酒店数量相对较少的二、三线城市，以扩
大市场覆盖，保持和提高市场份额和领先地位。如果公司“锦江都城”、“锦江之星”、“Golden
Tulip”、“Campanile”、铂涛、维也纳等系列品牌有限服务型酒店未来扩张速度显著低于其他
主要竞争对手，则可能由于市场覆盖率相对下降而降低客户的满意度，从而间接对其经营成果造
成不利影响。
4、加盟店管理风险
公司对营运中的“锦江都城”、“锦江之星” 、“Campanile”、“Golden Tulip”和铂涛、
维也纳等系列品牌大部分采取加盟特许经营的方式。根据适用的加盟权协议，公司并不能全权控
制该等加盟者的管理行为。一旦加盟者未能按照加盟权协议的条款经营并达到“锦江都城”、“锦
江之星” 、“Campanile”、“Golden Tulip” 和铂涛、维也纳等系列品牌酒店的管理标准，或
未能就各自的物业取得正式权属证明并须迁出该地点，其管理的酒店便会出现客户和收入损失，
从而对“锦江都城”、“锦江之星” 、“Campanile”、“Golden Tulip” 和铂涛、维也纳等系
列品牌业务收入产生不利影响。此外，如果加盟者滥用该等系列品牌商标，也可能有损其声誉和
品牌形象。如果客人不满意加盟店的服务水平，公司可能会因为遭受客户投诉而影响声誉，从而
间接影响公司有限服务型酒店业务的经营业绩。
5、租赁物业的权属风险
根据公司于 2009 年 9 月 30 日披露的《重大资产置换及购买暨关联交易报告书》（以下简称
“报告书”）显示，截至 2009 年 7 月 31 日，“锦江之星”旅馆营运中的租赁经营直营店共计 86
家，该类门店由“锦江之星”或“旅馆投资”向第三方物业业主租赁相关房屋与土地。截至报告
书签署日，有 30 家门店的物业存在未取得出租方对其房屋、土地合法权属有效证明或租赁用途未
获批准的瑕疵。上述业主是否具有租赁该等物业的合法权利存在一定的不确定性。如果由于上述
租赁物业的权属问题，导致相关门店的经营被迫中止，将会对本公司的业务及经营成果造成不利
影响。尽管根据租赁协议及相关法律，出现上述问题的业主须向相关承租人做出赔偿，本公司仍
需重新选址搬迁，从而承担额外的重置翻新成本。
本公司已经并将继续采取积极有效措施取得上述租赁经营门店出租方拥有所出租物业房屋所
有权及土地使用权合法权属的有效证明文件，以及相关实际租赁用途获得有权部门批准的有效证
明文件。在本次重组获得中国证监会核准后 12 个月内，将“锦江之星”经济型酒店业务中存在上
述问题的租赁经营门店承租物业占评估基准日租赁经营门店承租物业总数的比例降低至 20%以
内，在本次重组获得中国证监会核准后 24 个月内，将该比例降低至 10%以内，在本次重组获得中
国证监会核准后 36 个月内，将该比例降低至 0%。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
如本公司未能在解决计划时间表规定的相关期限内按照计划确定的比例和家数解决租赁经营
门店承租物业的上述权属瑕疵问题（即未能在中国证监会核准本次重组之日起 12 个月内降低至
20%，或未能在 24 个月内降低至 10%，或未能在 36 个月内全部解决），则对于在上述三个期限时
点分别未能达到计划整改比例及整改家数的部分租赁经营门店，本公司将在上述相关期限时点到
期后的 3 个月内，采取不低于本次评估值转让项目、解除租约重新选址开业或其他方式予以彻底
解决。
针对该等风险，2010 年 3 月 1 日，锦江国际向本公司做出承诺：如本公司未能在解决计划时
间表规定的相关期限内按照计划确定的比例和家数解决租赁经营门店承租物业的上述权属瑕疵问
题，本公司对于在上述三个期限时点分别未能达到计划整改比例及整改家数的部分租赁经营门店，
采取解除租约、重新选址开业的，锦江国际将承担该等解除租约重新选址开业的租赁经营门店因
解除租约可能导致发生的违约金，并按照资产评估基准日 2009 年 7 月 31 日的具体资产评估值予
以补偿。此外，锦江国际承诺，在未来经营过程中，如由于上述瑕疵导致相关锦江之星门店不得
不重新选址开业，则自该门店停业之日起一年内，有关物业出租方未能赔偿或未能全部赔偿该门
店损失（具体损失金额按照截至审计基准日 2009 年 7 月 31 日经审计的该门店固定资产及装修投
入的全部初始投资成本，与其在资产评估基准日 2009 年 7 月 31 日的资产评估值较高者计算）的，
锦江国际将立即按照上述方法计算的全部损失向该门店予以全额补偿，用于支持其搬迁开设新店。
锦江国际进行上述补偿后实际收回物业出租方的赔偿款归锦江国际所有。同时，锦江国际将按照
该门店停业之日前一个会计年度经审计的净利润金额向该门店提供补偿，用于弥补该门店停业期
间的营业损失。
6、商誉、商标等资产的减值风险
公司对卢浮集团、铂涛集团和金广快捷等股权的收购，以及卢浮集团对外收购，可能导致公
司形成较大金额的商誉。根据中国《企业会计准则》的相关规定，收购卢浮集团、铂涛集团和金
广快捷股权构成非同一控制下的企业合并，合并成本大于标的公司可辨认净资产公允价值份额的
差额被确认为商誉。根据中国《企业会计准则》的规定，商誉不作摊销处理，至少应当在每年年
度终了进行减值测试。如果卢浮集团、铂涛集团、维也纳和金广快捷未来经营状况持续恶化，则
存在商誉减值的风险，从而对本公司当期和未来收益造成不利影响。
公司的主营业务包含以接受连锁加盟形式从事酒店服务业务，公司拥有的酒店品牌具有一定
的商业价值与知名度，并将该等品牌视为使用寿命不确定的无形资产。如果公司该等商标及品牌
等无形资产的可收回金额低于其账面价值的，应当将资产的账面价值减记至可收回金额，减记将
被确认为资产减值损失，从而对公司当期和未来收益造成不利影响。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
7、海外业务管理风险
收购卢浮集团后公司业务和资产分布在全球60多个国家和地区，公司的经营规模和业务总量
大幅增加，同时对人员构成和管理体系也将相应提出更高的要求。如果公司不能根据海外业务发
展需要及时优化现有的组织模式和管理制度，则可能对标的公司的经营管理造成不利的影响。
8、传染性疾病的爆发和对食品安全的担忧
近年在全球或中国发生的非典型肺炎、疯牛病、禽流感或其他高传染性疾病，以及对食品安
全的担忧，曾经使并且将来也可能使旅游人数或在外用餐人数大幅下降，如果出现类似情况，将
可能给本公司的业务发展造成影响。
9、公司股东权益和净资产收益率等变动幅度可能加大
根据中国《企业会计准则》的规定，部分符合条件的金融资产应当以市价为基础确定公允价
值，这些金融资产公允价值的变动可能加大公司股东权益和净资产收益率等会计数据和财务指标
提高或降低的幅度。
根据公司发展战略，有限服务型酒店营运及管理业务已成为公司主要经营业务。该等业务正
处于快速发展期，需要有与之相匹配的资金来加以推动。同时由于资金的投入与产出有一个循环
过程，该循环周期的长短存在一定的不确定性。如果净利润未能同步增长，则可能相应稀释相关
的净资产收益率。
10、偿债能力受到不利影响的风险
为了满足收购和日常运营资金的需要，公司可能会增加债权融资金额，资产负债率可能会随
之有所提高。尽管本公司的资产负债结构总体合理，具备较好的偿债能力，能够满足收购对自有
资金的需求，不会对公司日常经营造成重大影响。但由于还款来源主要为公司经营活动产生的现
金流，如果公司运营现金流未达到预期，则对公司偿债能力可能产生不利影响。
11、汇率和利率变动的风险
公司业务分布全球，日常运营中涉及欧元、英镑、美元等多种外币交易币种，本公司合并报
表的记账本位币为人民币，公司已经仍将继续采取有效措施降低汇率波动对公司运营产生的影响，
但是未来随着人民币、欧元、英镑、美元等币种之间汇率的不断变动，仍可能给公司未来运营带
来汇率风险。
公司的融资部分来自于银行贷款，该等贷款合同到期或提前偿还后，或者随着公司业务规模
的不断扩大，公司可能需要向银行申请新的贷款以满足资金需求。未来贷款利率水平的变动，可
能影响公司财务费用及持续盈利能力。
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
12、关键岗位人员流失的风险
本公司的持续成功很大程度上依赖于高级管理团队和训练有素的资深员工队伍。如果本公司
不能按市场条件吸引并训练足够多的富有经验的高级管理团队和资深员工，并可能对本公司的盈
利能力产生重大影响。
(三) 其他披露事项
□适用 √不适用
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第五节 重要事项
一、股东大会情况简介
决议刊登的指定网站的
会议届次 召开日期 决议刊登的披露日期
查询索引
2016 年度股东大会 2017-04-21 www.sse.com.cn 2017-04-22
2017 年第一次临时股东大会 2017-05-11 www.sse.com.cn 2017-05-12
股东大会情况说明
□适用 √不适用
二、利润分配或资本公积金转增预案
(一) 半年度拟定的利润分配预案、公积金转增股本预案
是否分配或转增 否
每 10 股送红股数（股）
每 10 股派息数(元)（含税）
每 10 股转增数（股）
利润分配或资本公积金转增预案的相关情况说明
三、承诺事项履行情况
(一) 公司实际控制人、股东、关联方、收购人以及公司等承诺相关方在报告期内或持续到报告期
内的承诺事项
√适用 □不适用
承诺 是否
是否有
承诺 承诺 承诺 承诺 时间 及时
履行期
背景 类型 方 内容 及期 严格
限
限 履行
资产置换方案中，置入资产的租赁物业中有
30 家“锦江之星”门店物业存在一定程度
的权属瑕疵。针对该等风险及本公司计划解
决时间表，2010 年 3 月 1 日，锦江国际向本
公司做出承诺：
1）如本公司未能在解决计划时间表规定的
与重大 相关期限内按照计划确定的比例和家数解
解决土
资产重 锦江 决租赁经营门店承租物业的上述权属瑕疵
地等产 永久 否 是
组相关 国际 问题（即未能在中国证监会核准本次重组之
权瑕疵
的承诺 日起 12 个月内降低至 20%，或未能在 24 个
月内降低至 10%，或未能在 36 个月内全部解
决），本公司对于在上述三个期限时点分别
未能达到计划整改比例及整改家数的部分
租赁经营门店，采取解除租约、重新选址开
业的，我公司将承担该等解除租约重新选址
开业的租赁经营门店因解除租约可能导致
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
发生的违约金，并按照资产评估基准日 2009
年 7 月 31 日的具体资产评估值予以补偿。
2）在置入资产未来经营过程中，如由于“锦
江之星”租赁经营门店存在瑕疵导致相关
门店不得不重新选址开业，则自该门店停业
之日起一年内，有关物业出租方未能赔偿或
未能全部赔偿该门店损失的，锦江国际将立
即按照下述方法计算的全部损失向该门店
予以全额补偿，用于支持其搬迁开设新店。
具体损失金额按照截至审计基准日 2009 年
7 月 31 日经审计的该门店固定资产及装修
投入的全部初始投资成本，与其在资产评估
基准日 2009 年 7 月 31 日的资产评估值较高
者计算。锦江国际进行上述补偿后如收回物
业出租方的赔偿款归其所有。同时，锦江国
际将按照该门店停业之日前一个会计年度
经审计的净利润金额向该门店提供补偿，用
于弥补该门店停业期间的营业损失。
重组报告书披露：2009 年 12 月 22 日，锦江
国际向锦江股份承诺，在本次重组后，将对
锦江股份及附属企业在本次审计评估基准
日 2009 年 7 月 31 日存放在锦江国际财务公
锦江 司的全部款项及其他金融资产，以及其后存
其他 永久 否 是
国际 放在锦江国际财务公司的任何款项及其他
金融资产提供全额担保。如锦江国际财务公
司出现无法支付锦江股份及附属企业存款
本金及利息及其他金融资产的情况，锦江国
际将即时代为支付。
2009 年 8 月 28 日，锦江酒店集团出具了《交
易对方关于避免同业竞争的承诺》，承诺锦
江酒店集团及其控制的公司（不含锦江股份
及其下属公司，下同）不会从事任何与锦江
股份所从事的业务发生或可能发生竞争的
锦江
业务。如锦江酒店集团及其控制的公司在本
其他 酒店 永久 否 是
次重组完成后的经营活动可能在将来与锦
集团
江股份发生同业竞争或利益冲突，其将放弃
或促使其控制的公司放弃可能发生同业竞
争或利益冲突的业务，或将该等业务以公
平、公允的市场价格，在适当时候全部注入
锦江股份。
四、聘任、解聘会计师事务所情况
聘任、解聘会计师事务所的情况说明
□适用 √不适用
审计期间改聘会计师事务所的情况说明
□适用 √不适用
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
公司对会计师事务所“非标准审计报告”的说明
□适用 √不适用
公司对上年年度报告中的财务报告被注册会计师出具“非标准审计报告”的说明
□适用 √不适用
五、破产重整相关事项
□适用 √不适用
六、重大诉讼、仲裁事项
□本报告期公司有重大诉讼、仲裁事项 √本报告期公司无重大诉讼、仲裁事项
七、上市公司及其董事、监事、高级管理人员、控股股东、实际控制人、收购人处罚及整改情况
□适用 √不适用
八、报告期内公司及其控股股东、实际控制人诚信状况的说明
□适用 √不适用
九、公司股权激励计划、员工持股计划或其他员工激励措施的情况及其影响
(一) 相关股权激励事项已在临时公告披露且后续实施无进展或变化的
□适用 √不适用
(二) 临时公告未披露或有后续进展的激励情况
股权激励情况
□适用 √不适用
其他说明
□适用 √不适用
员工持股计划情况
□适用 √不适用
其他激励措施
□适用 √不适用
十、重大关联交易
(一) 与日常经营相关的关联交易
1、 已在临时公告披露且后续实施无进展或变化的事项
□适用 √不适用
2、 已在临时公告披露，但有后续实施的进展或变化的事项
□适用 √不适用
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上海锦江国际酒店发展股份有限公司 2017 年半年度报告
3、 临时公告未披露的事项
√适用 □不适用
单位:元 币种:人民币
占同类
关联
关联 关联交 关联 交易
关联 关联 关联交 交易
交易 易定价 交易 关联交易金额 金额的
交易方 关系 易内容 结算
类型 原则 价格 比例
方式
(%)
锦江国际、锦江 最终控股公司、 提供 有限服 市场 873,499.41 0.10 现金
酒店集团及其下 母公司及其控 劳务 务型酒 价格
属酒店服务类企 股子公司 店管理
业 费收入
锦江国际、锦江 最终控股公司、 提供 有限服 市场 264,737.74 0.57 现金
酒店集团及其下 母公司及其控 劳务 务型酒 价格
属酒店服务类企 股子公司 店订房
业 渠道费
锦江国际、锦江 最终控股公司、 提供 积分收 市场 24,024.78 0.96 现金
酒店集团及其下 母公司及其控 劳务 入 价格
属酒店服务类企 股子公司
业
锦江国际、锦江 最终控股公司、 销售 有限服 市场 197,947.27 0.61 现金
酒店集团及其下 母公司及其控 商品 务型酒 价格
属酒店服务类企 股子公司 店销售
业 酒店物
品
锦江国际、锦江 最终控股公司、 销售 销售食 市场 868,765.79 13.51 现金
酒店集团及其下 母公司及其控 商品 品 价格
属酒店服务类企 股子公司
业
锦江国际、锦江 最终控股公司、 采购 采购酒 市场 294,980.02 0.13 现金
酒店集团及其下 母公司及其控 商品 店物品 价格
属酒店服务类企 股子公司、联营 食品
业 企业
锦江国际及其下 最终控股公司 接受 会员积 市场 1,784,954.56 100.00 现金
属企业 及其控股子公 劳务 分服务 价格
司 费用
锦江国际及其下 最终控股公司 接受 订房服 市场 220,696.41 0.73 现金
属企业 及其控股子公 劳务 务费 价格
司
合计 / / 4,529,605.98 0.37 /
大额销货退回的详细情况 公司为锦江酒店集团、锦江国际下属酒店服务
类企业提供有限服务型酒店管理，主要是为了
扩大市场份额。
关联交易的说明 本公司与日常经营相关的关联交易协议已提交
于2016年3月29日召开的公司八届十三次董事
会审议通过。（每三年提交一次）
35
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
(二) 资产收购或股权收购、出售发生的关联交易
1、 已在临时公告披露且后续实施无进展或变化的事项
□适用 √不适用
2、 已在临时公告披露，但有后续实施的进展或变化的事项
□适用 √不适用
3、 临时公告未披露的事项
□适用 √不适用
4、 涉及业绩约定的，应当披露报告期内的业绩实现情况
□适用 √不适用
(三) 共同对外投资的重大关联交易
1、 已在临时公告披露且后续实施无进展或变化的事项
□适用 √不适用
2、 已在临时公告披露，但有后续实施的进展或变化的事项
√适用 □不适用
2016年12月5日，公司与锦江资本、上海联银创业投资有限公司（以下简称“联银创投”）、
锦江酒店集团、西藏弘毅夹层投资管理中心（有限合伙）（以下简称“西藏弘毅”）、国盛投资
以及符合约定条件的投资人签署“WeHotel”股东协议，公司出资人民币10,000万元，占10%股权。
请详见公司于2016年12月6日披露的《关于与关联方共同投资设立合资公司的关联交易公告》（公
告编号：2016-067）。
为加快“WeHotel”的设立进程，上述方案调整为：原约定符合条件的投资人的人民币15,000
万元投资份额由锦江资本负责出资并持有相应的股权，原约定符合条件的投资人享有的权利和承
担的义务由锦江资本承接，在WeHotel设立后，符合约定条件的投资人有权认缴WeHotel的新增注
册资本，具体流程和要求受限于届时适用法律（包括但不限于国资监管部门的有关规定）和WeHotel
章程的规定。于2017年2月6日，公司与锦江资本、联银创投、锦江酒店集团、西藏弘毅、国盛投
资签署调整后的WeHotel股东协议。公司出资人民币10,000万元，占10%股权。原协议自新协议签
署之日终止。请详见公司于2017年2月7日披露的《关于调整与关联方共同投资设立合资公司方案
的的关联交易公告》（公告编号：2017-002）。
3、 临时公告未披露的事项
□适用 √不适用
36
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
(四) 关联债权债务往来
1、 已在临时公告披露且后续实施无进展或变化的事项
□适用 √不适用
2、 已在临时公告披露，但有后续实施的进展或变化的事项
√适用 □不适用
2017 年 4 月 25 日，公司全资子公司 Sailing Investment Co, S.à r.l.（作为借款方，以下
简称“Sailing”）与锦江国际之全资子公司 MASTER MELON CAPITAL CO., LIMITED（作为贷款方，
以下简称“MELON”）签订了《集团内部贷款协议》（以下简称“贷款协议”）。根据贷款协议，
Sailing 将获得由 MELON 提供的期限不超过 5 年的借款，借款总额为 5 亿欧元，固定年利率不高
于 MELON 的融资成本且最高不超过 150BP（借款金额和利率最终以欧元私募债发行确定的为准），
低于中国人民银行公布的人民币同期贷款基准利率（中国人民银行同期同档贷款基准利率为
4.75%）。公司及下属子公司对该项借款无需相应抵押或担保。具体内容请详见公司于 2017 年 4
月 26 日披露的《关于公司关联方向公司全资子公司提供借款的关联交易公告》。
后续进展：2017 年 5 月 12 日，Sailing 与 MELON 签订了《集团内部贷款协议之补充协议》（以
下简称“补充协议”）。根据补充协议，Sailing 向 MELON 借款总额为 5 亿欧元，借款期限自 2017
年 5 月 15 日起至 2022 年 5 月 10 日止，借款年利率为 1.05%，外汇综合服务费为 309.60 万欧元，
开证费用为 77.40 万欧元，律师费为 17.25 万美元。
3、 临时公告未披露的事项
□适用 √不适用
(五) 其他重大关联交易
□适用 √不适用
(六) 其他
√适用 □不适用
本公司将部分结算资金或闲置资金存入锦江国际集团财务有限责任公司（经批准的非银行金
融机构），报告期初余额为 71,648 万元人民币，报告期末余额为 94,379 万元人民币。本公司于
2017 年 4 月 21 日召开的 2016 年度股东大会审议通过了相关向财务公司存款的决议：公司 2017
年度在锦江国际集团财务有限责任公司预计存款余额最高上限不超过 12 亿元人民币。2017 年上
半年度发生相应存款利息收入 636 万元人民币。
本公司下属公司向锦江国际集团财务有限责任公司进行借款，报告期初余额为 80,500 万元人
民币，报告期末余额为 3,000 万元人民币。本公司于 2017 年 4 月 21 日召开的 2016 年度股东大会
审议通过了相关财务公司贷款的决议：公司 2017 年度在锦江国际集团财务有限责任公司预计贷款
最高上限不超过 16 亿元人民币。2017 年上半年度发生相应借款利息支出 1,272 万元人民币。
37
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
锦江国际集团财务有限责任公司章程第三章第十二条规定：“锦江国际（集团）有限公司董
事会承诺：在公司出现支付困难的紧急情况时，将督促上海锦江国际酒店（集团）股份有限公司
按照解决支付困难的实际需求，增加相应资本金。”
为进一步确保本公司在集团财务公司存款的安全性及独立性，本公司实际控制人锦江国际（集
团）有限公司又于 2009 年 12 月 22 日出具以下承诺：
“在本次重组获得批准并得以实施的前提下，将对你公司及附属企业在本次审计评估基准日
2009 年 7 月 31 日存放在锦江财务的全部款项及其他金融资产及其后存放在锦江财务的任何款项
及其他金额资产提供全额担保。如锦江财务出现无法支付你公司及附属企业存款及其他金融资产
本金及利息的情况，我公司将即时代为支付。你公司与锦江财务进行资金存储等业务应遵循自愿
原则，独立决策，我公司承诺不采取任何方式对你公司在锦江财务的资金存储等业务做统一要求，
干扰你公司的正常决策，以保证你公司的财务独立性和资金安全性。为此你公司须按照有关规定
及时披露上述存款及担保情况（包括在定期报告中定期披露和重大情况及时披露）”。
十一、 重大合同及其履行情况
1 托管、承包、租赁事项
□适用 √不适用
2 担保情况
√适用 □不适用
单位: 万元 币种: 人民币
公司对外担保情况（不包括对子公司的担保）
担保 担保
方与 发生 担保是 关
是否存 是否为
担保 上市 被担 担保 日期 担保 担保 担保 否已经 担保是 担保逾 联
在反担 关联方
方 公司 保方 金额 (协议 起始日 到期日 类型 履行完 否逾期 期金额 关
保 担保
的关 签署 毕 系
系 日)
报告期内担保发生额合计（不包括对子公司
的担保）
报告期末担保余额合计（A）（不包括对子
公司的担保）
公司对子公司的担保情况
报告期内对子公司担保发生额合计 92,000
报告期末对子公司担保余额合计（B） 450,649
公司担保总额情况（包括对子公司的担保）
担保总额（A+B） 450,649
担保总额占公司净资产的比例(%) 35.58
38
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
其中：
为股东、实际控制人及其关联方提供担保的 0
金额（C）
直接或间接为资产负债率超过70%的被担保 0
对象提供的债务担保金额（D）
担保总额超过净资产50%部分的金额（E） 0
上述三项担保金额合计（C+D+E） 0
未到期担保可能承担连带清偿责任说明
担保情况说明 于2017年5月25日，公司与上海浦东发展银行股份有限公
司闸北支行就Keystone Lodging Holdings Limited9.2
亿元人民币流动资金借款签署《保证合同》。上述担保事
项已经公司第八届董事会第三十八次会议审议通过。
3 其他重大合同
□适用 √不适用
十二、 上市公司扶贫工作情况
□适用 √不适用
十三、 可转换公司债券情况
□适用 √不适用
十四、 属于环境保护部门公布的重点排污单位的公司及其子公司的环保情况说明
□适用 √不适用
十五、 其他重大事项的说明
(一) 与上一会计期间相比，、会计估计和核算方法发生变化的情况、原因及其影响
√适用 □不适用
于2017年5月10日，财政部发布了新修订的《企业会计准则第16号——政府补助》，要求应当
在利润表中的“营业利润”项目之上单独列报“其他收益”项目，计入其他收益的政府补助在该
项目中反映。对2017年1月1日后发生的政府补助采用未来适用法处理，对2017年1月1日至本准则
施行日之间新增的政府补助根据本准则进行调整。
公司根据财政部《关于印发修订〈企业会计准则第16号—政府补助〉的通知》（财会[2017]15
号）的要求，公司将修改财务报表相关列报，在利润表中的“营业利润”项目之上单独列报“其
他收益”项目，将自2017年1月1日起收到的与企业日常活动有关的政府补助对损益的影响从“营
业外收入”项目重分类至“其他收益”项目。“其他收益”科目本报告期金额增加18,100,017.83
元，“营业外收入”科目本报告期金额减少18,100,017.83元。
39
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
本次调整不涉及对财务报表的比较数据进行追溯调整，对公司损益、总资产、净资产不产生
影响。
(二) 报告期内发生重大会计差错更正需追溯重述的情况、更正金额、原因及其影响
□适用 √不适用
(三) 其他
□适用 √不适用
40
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第六节 普通股股份变动及股东情况
一、 股本变动情况
(一) 股份变动情况表
1、 股份变动情况表
报告期内，公司股份总数及股本结构未发生变化。
2、 股份变动情况说明
□适用 √不适用
3、 报告期后到半年报披露日期间发生股份变动对每股收益、每股净资产等财务指标的影响（如
有）
□适用 √不适用
4、 公司认为必要或证券监管机构要求披露的其他内容
□适用 √不适用
(二) 限售股份变动情况
□适用 √不适用
二、 股东情况
(一) 股东总数:
截止报告期末普通股股东总数(户) 60,927（其中：A 股股东 34,307，
B 股股东 26,620）
截止报告期末表决权恢复的优先股股东总数（户）
(二) 截止报告期末前十名股东、前十名流通股东（或无限售条件股东）持股情况表
单位:股
前十名股东持股情况
持有有 质押或冻结情况
股东名称 报告期内 期末持股 比例 限售条 股东
股份
（全称） 增减 数量 (%) 件股份 数量 性质
状态
数量
上海锦江国
际酒店(集 国有
482,007,225 50.32 无
团)股份有限 法人
公司
弘毅（上海）
股权投资基 境外
120,325,976 12.56 质押 120,325,976
金中心（有限 法人
合伙）
中国证券金
国有
融股份有限 +16,609,045 16,959,201 1.77 未知
法人
公司
41
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
中国长城资
国有
产管理股份 15,244,482 1.59 无
法人
有限公司
上海国盛集
国有
团投资有限 15,244,482 1.59 无
法人
公司
华安未来资
境内
产－工商银
非国
行－安信信 15,244,482 1.59 无
有法
托股份有限
人
公司
上海国际集
国有
团资产管理 10,162,988 1.06 无
法人
有限公司
INVESCO 境外
-1,004,278 9,778,843 1.02 未知
FUNDS SICAV 法人
中国工商银
行股份有限
公司－中证
上海国企交 -467,445 8,300,971 0.87 无 其他
易型开放式
指数证券投
资基金
新华人寿保
险股份有限
公司－分红
6,054,835 0.63 无 未知
－个人分红
－018L－
FH002 沪
前十名无限售条件股东持股情况
持有无限售条件流通股 股份种类及数量
股东名称
的数量 种类 数量
上海锦江国际酒店(集团)股
303,533,935 人民币普通股
份有限公司
中国证券金融股份有限公司 16,959,201 人民币普通股
INVESCO FUNDS SICAV 9,778,843 境内上市外资股
中国工商银行股份有限公司
－中证上海国企交易型开放 8,300,971 人民币普通股
式指数证券投资基金
新华人寿保险股份有限公司
－分红－个人分红－018L－ 6,054,835 人民币普通股
FH002 沪
INVESCO PERPETUAL HONG
4,241,647 境内上市外资股
KONG & CHINA FUND
NORGES BANK 3,579,513 境外上市外资股
SCBHK A/C BBH S/A VANGUARD
EMERGING MARKETS STOCK 3,292,550 境内上市外资股
INDEX FUND
全国社保基金四一五组合 2,520,878 人民币普通股
42
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
VANGUARD TOTAL
INTERNATIONAL STOCK INDEX 2,090,938 境内上市外资股
FUND
上述股东关联关系或一致行 INVESCO FUNDS SICAV 与 INVESCO PERPETUAL HONG KONG & CHINA
动的说明 FUND 同属于景顺投资管理有限公司（INVESCO）。除此之外，公司
未知其他股东之间是否存在关联关系或属于《上市公司股东持股变
动信息披露管理办法》规定的一致行动人。
前十名有限售条件股东持股数量及限售条件
√适用 □不适用
单位：股
有限售条件股份可上市交易情
况
序 持有的有限售 限售
有限售条件股东名称 新增可
号 条件股份数量 条件
可上市交易时间 上市交易
股份数量
101,277,000 2017 年 12 月 06 日 自发行结束
上海锦江国际酒店（集团）
1 之日起 36 个
股份有限公司 77,196,290 2019 年 08 月 05 日 月不得转让
100,000,000 2017 年 12 月 06 日 自发行结束
2 弘毅（上海）股权投资基金
之日起 36 个
中心（有限合伙） 20,325,976 2019 年 08 月 05 日 月不得转让
自发行结束
中国长城资产管理股份有
3 15,244,482 2019 年 08 月 05 日 之日起 36 个
限公司
月不得转让
自发行结束
上海国盛集团投资有限公
4 15,244,482 2019 年 08 月 05 日 之日起 36 个
司
月不得转让
自发行结束
华安未来资产－工商银行
5 15,244,482 2019 年 08 月 05 日 之日起 36 个
－安信信托股份有限公司
月不得转让
自发行结束
上海国际集团资产管理有
6 10,162,988 2019 年 08 月 05 日 之日起 36 个
限公司
月不得转让
“华安未来资产－工商银行－安信信托股份有限公司”产品由
华安资管管理；与锦江酒店集团受同一最终控制方控制的上海锦
上述股东关联关系或一致行动 江国际投资管理有限公司持有华安资管控股股东华安基金管理
的说明 有限公司20%股权，因此，锦江酒店集团与华安资管存在关联关
系。公司未知其他股东之间是否存在关联关系或属于《上市公司
股东持股变动信息披露管理办法》规定的一致行动人。
(三) 战略投资者或一般法人因配售新股成为前 10 名股东
□适用 √不适用
三、 控股股东或实际控制人变更情况
□适用 √不适用
43
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第七节 优先股相关情况
□适用 √不适用
44
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第八节 董事、监事、高级管理人员情况
一、持股变动情况
(一) 现任及报告期内离任董事、监事和高级管理人员持股变动情况
□适用 √不适用
(二) 董事、监事、高级管理人员报告期内被授予的股权激励情况
□适用 √不适用
二、公司董事、监事、高级管理人员变动情况
√适用 □不适用
姓名 担任的职务 变动情形
李予恺 副总裁 离任
公司董事、监事、高级管理人员变动的情况说明
□适用 √不适用
三、其他说明
□适用 √不适用
45
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第九节 公司债券相关情况
□适用 √不适用
46
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第十节 财务报告
本公司按中国企业会计准则编制 2017 年半年度财务报表，经德勤华永会计师事务所（特殊普
通合伙）审阅，并出具了德师报（阅）字（17）第 R00069 号标准无保留意见的审阅报告。
一、审阅报告（附后）
二、财务报表（附后）
三、财务报表附注（附后）
47
上海锦江国际酒店发展股份有限公司 2017 年半年度报告
第十一节 备查文件目录
载有法定代表人、主管会计工作负责人、会计机构负责人签名并盖章的
会计报表
备查文件目录
报告期内在《上海证券报》、《大公报》上披露过的所有公司文件的正
本及公告的原件
董事长：俞敏亮
董事会批准报送日期：2017 年 8 月 29 日
48
审阅报告
德师报(阅)字(17)第 R00069 号
上海锦江国际酒店发展股份有限公司全体股东：
我们审阅了后附的上海锦江国际酒店发展股份有限公司(以下简称“贵公司”)的财务报表，包括 2017 年 6
月 30 日的公司及合并资产负债表、2017 年 1 月 1 日至 2017 年 6 月 30 日止期间的公司及合并利润表、公司及
合并股东权益变动表和公司及合并现金流量表以及财务报表附注。这些财务报表的编制是贵公司管理层的责
任，我们的责任是在实施审阅工作的基础上对这些财务报表出具审阅报告。
我们按照《中国注册会计师审阅准则第 2101 号——财务报表审阅》的规定执行了审阅业务。该准则要求
我们计划和实施审阅工作，以对财务报表是否不存在重大错报获取有限保证。审阅主要限于询问公司有关人
员和对财务数据实施分析程序，提供的保证程度低于审计。我们没有实施审计，因而不发表审计意见。
根据我们的审阅，我们没有注意到任何事项使我们相信财务报表没有按照企业会计准则的规定编制，未
能在所有重大方面公允反映被审阅单位的财务状况、经营成果和现金流量。
德勤华永会计师事务所(特殊普通合伙) 中国注册会计师
中国上海
唐恋炯
陈 彦
2017 年 8 月 29 日
49
上海锦江国际酒店发展股份有限公司
2017 年 6 月 30 日
合并资产负债表
人民币元
2017 年 2016 年 2017 年 2016 年
项目 附注 项目 附注
6 月 30 日 12 月 31 日 6 月 30 日 12 月 31 日
流动资产： 流动负债：
货币资金 (五)1 8,552,651,949.49 7,789,240,839.32 短期借款 (五)19 959,177,065.36 4,127,927,127.66
衍生金融资产 - - 衍生金融负债 5,175,221.63 6,158,207.57
应收票据 - - 应付票据 - -
应收账款 (五)2 892,513,312.63 633,618,747.68 应付账款 (五)20 1,956,484,199.43 2,053,696,691.93
预付款项 (五)3 264,074,163.69 309,862,334.50 预收款项 (五)21 717,999,715.58 675,142,633.66
应收利息 (五)4 351,097,117.18 142,433,131.74 应付职工薪酬 (五)22 754,488,353.79 669,713,095.27
应收股利 (五)5 40,741,672.29 15,129,696.45 应交税费 (五)23 392,041,733.20 329,938,650.30
其他应收款 (五)6 494,976,228.22 453,281,320.77 应付利息 (五)24 24,255,363.82 48,865,337.58
存货 (五)7 71,092,176.59 77,162,593.55 应付股利 (五)25 2,196,167.45 429,303.93
一年内到期的非流动资产 (五)17 9,247,960.85 9,000,000.00 其他应付款 (五)26 1,196,677,875.80 1,078,844,258.92
其他流动资产 (五)8 275,538,050.13 257,464,801.18 一年内到期的非流动负债 (五)27 6,276,689,598.17 3,075,199,327.56
流动资产合计 10,951,932,631.07 9,687,193,465.19 其他流动负债 - -
流动负债合计 12,285,185,294.23 12,065,914,634.38
非流动资产：
可供出售金融资产 (五)9 1,171,115,849.07 1,323,219,708.84 非流动负债：
持有至到期投资 - - 长期借款 (五)28 12,954,325,523.38 14,935,470,530.53
长期应收款 - - 应付债券 - -
长期股权投资 (五)10 388,548,635.13 332,309,433.79 长期应付款 (五)29 151,164,139.83 145,511,003.10
投资性房地产 - - 长期应付职工薪酬 (五)30 57,686,524.56 49,009,564.56
固定资产 (五)11 6,873,898,943.04 6,808,114,114.61 预计负债 (五)31 32,440,189.51 49,921,877.75
在建工程 (五)12 577,417,406.14 671,575,784.78 递延所得税负债 (五)16 2,408,233,758.36 2,514,613,845.49
工程物资 - - 其他非流动负债 (五)32 160,364,091.33 117,626,648.42
固定资产清理 - - 非流动负债合计 15,764,214,226.97 17,812,153,469.85
无形资产 (五)13 7,398,512,741.17 7,340,669,279.80 负债合计 28,049,399,521.20 29,878,068,104.23
开发支出 - - 股东权益：
商誉 (五)14 11,370,524,107.39 10,914,544,764.35 股本 (五)33 957,936,440.00 957,936,440.00
长期待摊费用 (五)15 2,853,149,501.03 2,952,469,375.45 资本公积 (五)34 8,810,263,080.38 8,844,864,248.76
递延所得税资产 (五)16 618,263,672.31 549,724,160.40 减：库存股 - -
其他非流动资产 (五)17 83,039,556.26 3,616,245,114.60 其他综合收益 (五)35 548,416,701.54 601,259,290.86
非流动资产合计 31,334,470,411.54 34,508,871,736.62 盈余公积 (五)36 620,398,935.89 620,398,935.89
未分配利润 (五)37 1,729,367,734.77 1,776,723,536.56
归属于母公司
12,666,382,892.58 12,801,182,452.07
所有者权益合计
少数股东权益 1,570,620,628.83 1,516,814,645.51
股东权益合计 14,237,003,521.41 14,317,997,097.58
资产总计 42,286,403,042.61 44,196,065,201.81 负债和股东权益总计 42,286,403,042.61 44,196,065,201.81
附注为财务报表的组成部分
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
50
上海锦江国际酒店发展股份有限公司
2017 年 6 月 30 日
公司资产负债表
人民币元
2017 年 2016 年 2017 年 2016 年
项目 附注 项目 附注
6 月 30 日 12 月 31 日 6 月 30 日 12 月 31 日
流动资产： 流动负债：
货币资金 (十四)1 4,658,500,610.07 4,244,630,677.11 短期借款 (十四)17 930,000,000.00 3,250,000,000.00
衍生金融资产 - - 衍生金融负债 - -
应收票据 - - 应付票据 - -
应收账款 (十四)2 14,641,329.60 5,603,612.19 应付账款 78,817,723.77 100,489,717.02
预付款项 578,211.63 632,730.05 预收款项 8,119,009.75 6,892,911.66
应收利息 (十四)3 349,849,547.48 141,075,416.17 应付职工薪酬 (十四)18 38,901,901.97 30,727,270.88
应收股利 (十四)4 170,518,065.41 14,579,808.60 应交税费 (十四)19 2,176,547.89 7,993,703.00
其他应收款 (十四)5 101,504,653.80 106,230,522.45 应付利息 8,995,468.33 35,188,307.79
存货 (十四)6 3,055,359.54 2,652,731.98 应付股利 463,047.45 429,303.93
一年内到期的非流动资产 - - 其他应付款 (十四)20 157,880,930.71 323,294,171.76
(十四)
其他流动资产 (十四)7 16,004,968.22 28,143,925.15 一年内到期的非流动负债 220,739,750.00 120,739,750.00
21、22
流动资产合计 5,314,652,745.75 4,543,549,423.70 其他流动负债 - -
流动负债合计 1,446,094,379.87 3,875,755,136.04
非流动资产：
可供出售金融资产 621,319,812.52 773,401,972.43 非流动负债：
持有至到期投资 - - 长期借款 (十四)21 7,700,000,000.00 7,800,000,000.00
长期应收款 (十四)8 10,328,000.00 10,328,000.00 应付债券 - -
长期股权投资 (十四)9 14,407,448,540.34 14,381,786,174.96 长期应付款 - -
投资性房地产 - - 长期应付职工薪酬 - -
固定资产 (十四)10 95,374,251.33 101,369,260.95 预计负债 - -
在建工程 (十四)11 71,693,917.76 65,248,189.61 递延所得税负债 (十四)15 120,091,775.26 154,203,668.83
工程物资 - - 其他非流动负债 (十四)22 4,045,250.00 4,387,900.00
固定资产清理 - - 非流动负债合计 7,824,137,025.26 7,958,591,568.83
无形资产 (十四)12 53,628,488.56 54,738,118.72 负债合计 9,270,231,405.13 11,834,346,704.87
开发支出 - - 股东权益：
长期待摊费用 (十四)13 180,419,727.15 192,565,739.65 股本 957,936,440.00 957,936,440.00
递延所得税资产 - - 资本公积 9,189,446,079.42 9,224,047,247.80
其他非流动资产 (十四)14 280,000,000.00 3,831,002,806.80 减：库存股 - -
非流动资产合计 15,720,212,737.66 19,410,440,263.12 其他综合收益 (十四)23 391,821,608.97 496,039,633.30
盈余公积 620,398,935.89 620,398,935.89
未分配利润 605,031,014.00 821,220,724.96
股东权益合计 11,764,634,078.28 12,119,642,981.95
资产总计 21,034,865,483.41 23,953,989,686.82 负债和股东权益总计 21,034,865,483.41 23,953,989,686.82
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
51
上海锦江国际酒店发展股份有限公司
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
合并利润表
人民币元
2017 年 1 月 1 日 2016 年 1 月 1 日
项目 附注 至 2017 年 6 月 30 日 至 2016 年 6 月 30 日
止期间 止期间
一、营业收入 (五)38 6,289,013,150.53 4,368,181,085.26
减：营业成本 (五)38、39 603,775,121.43 434,096,326.04
税金及附加 (五)40 106,615,468.76 83,397,356.63
销售费用 (五)39 3,631,647,717.77 2,618,711,542.75
管理费用 (五)39 1,512,207,360.64 960,758,802.61
财务费用 (五)41 218,769,598.00 229,518,074.47
资产减值损失 (五)42 13,767,386.24 14,509,980.72
加：公允价值变动收益 - -
投资收益 (五)43 261,207,062.43 333,004,292.47
其中：对联营企业和合营企业的投资收益 53,411,404.56 50,550,196.85
其他收益 (五)44 18,100,017.83 -
二、营业利润 481,537,577.95 360,193,294.51
加：营业外收入 (五)45 14,972,281.20 73,500,212.36
其中：非流动资产处置收益 3,127,579.88 10,884,656.02
减：营业外支出 (五)46 26,643,327.22 13,456,304.48
其中：非流动资产处置损失 17,112,648.73 3,907,744.46
三、利润总额 469,866,531.93 420,237,202.39
减：所得税费用 (五)47 18,794,301.05 116,845,075.66
四、净利润 451,072,230.88 303,392,126.73
归属于母公司所有者的净利润 412,453,689.41 299,157,333.01
少数股东损益 38,618,541.47 4,234,793.72
五、其他综合收益(损失)的税后净额 (五)35 (43,184,101.50) (234,190,988.17)
归属母公司所有者的其他综合收益(损失)的税后净额 (52,842,589.32) (245,118,169.58)
(一)以后不能重分类进损益的其他综合收益(损失) - (4,474,875.79)
1.重新计量设定受益计划净负债或净资产的变动 - (4,474,875.79)
(二)以后将重分类进损益的其他综合收益(损失) (52,842,589.32) (240,643,293.79)
1.权益法下在被投资单位以后将重分类进损益的其他
186,422.60 -
综合收益中享有的份额
2.可供出售金融资产公允价值变动损益 (104,218,024.33) (230,222,566.06)
3.现金流量套期损益的有效部分 829,597.00 (728,428.74)
4.外币财务报表折算差额 50,359,415.41 (9,692,298.99)
归属于少数股东的其他综合收益的税后净额 9,658,487.82 10,927,181.41
六、综合收益总额 407,888,129.38 69,201,138.56
归属于母公司所有者的综合收益总额 359,611,100.09 54,039,163.43
归属于少数股东的综合收益总额 48,277,029.29 15,161,975.13
七、每股收益：
(一)基本每股收益 (五)52 0.4306 0.3718
(二)稀释每股收益 (五)52 不适用 不适用
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
52
上海锦江国际酒店发展股份有限公司
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
公司利润表
人民币元
2017 年 1 月 1 日 2016 年 1 月 1 日
项目 附注 至 2017 年 6 月 30 日 至 2016 年 6 月 30 日
止期间 止期间
一、营业收入 (十四)24 116,945,723.92 78,902,643.33
减：营业成本 (十四)24、25 15,285,367.42 10,554,868.66
税金及附加 658,575.63 2,901,985.28
销售费用 (十四)25 89,464,577.51 72,421,729.19
管理费用 (十四)25 59,996,304.43 60,769,283.40
财务费用 (十四)26 100,959,721.34 114,160,413.79
资产减值损失 36,320.87 21,186.48
加：公允价值变动收益 - -
投资收益 (十四)27 392,981,341.22 525,958,103.44
其中：对联营企业和合营企业的投资收益 52,153,017.11 48,821,164.65
其他收益 342,650.00 -
二、营业利润 243,868,847.94 344,031,279.97
加：营业外收入 360,980.73 11,377,345.89
减：营业外支出 3,858.98 33,395.70
其中：非流动资产处置损失 778.30 10,468.29
三、利润总额 244,225,969.69 355,375,230.16
减：所得税费用 606,189.45 11,195,370.67
四、净利润 243,619,780.24 344,179,859.49
五、其他综合收益(损失)的税后净额 (104,218,024.33) (252,630,069.49)
以后将重分类进损益的其他综合收益(损失) (104,218,024.33) (252,630,069.49)
1.可供出售金融资产公允价值变动损益 (104,218,024.33) (252,630,069.49)
六、综合收益总额 139,401,755.91 91,549,790.00
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
53
上海锦江国际酒店发展股份有限公司
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
合并现金流量表
人民币元
2017 年 1 月 1 日 2016 年 1 月 1 日
项目 附注 至 2017 年 6 月 30 日 至 2016 年 6 月 30 日
止期间 止期间
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 6,444,479,645.53 4,444,711,993.77
收到的税费返还 4,473,060.00 15,952,197.30
收到其他与经营活动有关的现金 (五)48(1) 213,275,922.50 96,244,768.07
经营活动现金流入小计 6,662,228,628.03 4,556,908,959.14
购买商品、接受劳务支付的现金 1,478,366,206.49 976,031,888.76
支付给职工以及为职工支付的现金 1,960,391,938.38 1,321,410,478.32
支付的各项税费 431,683,406.46 382,644,522.72
支付其他与经营活动有关的现金 (五)48(2) 1,394,575,841.18 1,114,260,224.95
经营活动现金流出小计 5,265,017,392.51 3,794,347,114.75
经营活动产生的现金流量净额 (五)49(1) 1,397,211,235.52 762,561,844.39
二、投资活动产生的现金流量：
收回投资收到的现金 111,777,935.18 251,317,907.13
取得投资收益收到的现金 139,371,166.16 49,191,240.93
处置固定资产、无形资产和其他长期资产收回的现金净额 10,435,688.24 8,790,907.52
处置子公司及其他营业单位收到的现金净额 (五)49(3) 725,901.20 -
收到其他与投资活动有关的现金 (五)48(3) 45,000,000.00 -
投资活动现金流入小计 307,310,690.78 309,300,055.58
购买子公司和其他经营单位支付的现金净额 (五)49(2) 418,742,874.09 6,940,397,644.67
处置子公司和其他经营单位支付的现金净额 (五)49(4) 689,279.31 -
购建固定资产、无形资产和其他长期资产支付的现金 485,018,057.68 423,369,006.41
投资所支付的现金 101,150,002.00 4,375,457.62
支付其他与投资活动有关的现金 (五)48(4) 6,353,619.89 1,189,446,851.30
投资活动现金流出小计 1,011,953,832.97 8,557,588,960.00
投资活动产生的现金流量净额 (704,643,142.19) (8,248,288,904.42)
三、筹资活动产生的现金流量：
吸收投资收到的现金 - 22,538,570.00
其中：子公司吸收少数股东投资收到的现金 - 22,538,570.00
取得借款收到的现金 (五)48(5) 6,218,431,860.49 16,920,000,000.00
收到其他与筹资活动有关的现金 (五)48(6) 1,472,378,295.96 65,181,237.12
筹资活动现金流入小计 7,690,810,156.45 17,007,719,807.12
偿还债务支付的现金 (五)48(7) 8,757,456,566.03 6,612,341,287.62
分配股利、利润或偿付利息支付的现金 776,212,062.16 688,872,882.55
其中：子公司支付给少数股东的股利、利润 1,425,231.93 236,043.43
支付其他与筹资活动有关的现金 (五)48(8) 8,607,650.81 5,495,020.98
筹资活动现金流出小计 9,542,276,279.00 7,306,709,191.15
筹资活动产生的现金流量净额 (1,851,466,122.55) 9,701,010,615.97
四、汇率变动对现金及现金等价物的影响 39,845,691.83 30,054,183.36
五、现金及现金等价物净增加(减少)额 (1,119,052,337.39) 2,245,337,739.30
加：期初现金及现金等价物余额 (五)49(5) 6,358,092,062.93 3,797,129,642.55
六、期末现金及现金等价物余额 (五)49(5) 5,239,039,725.54 6,042,467,381.85
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
54
上海锦江国际酒店发展股份有限公司
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
公司现金流量表
人民币元
2017 年 1 月 1 日 2016 年 1 月 1 日
项目 附注 至 2017 年 6 月 30 日 至 2016 年 6 月 30 日
止期间 止期间
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 117,264,078.85 78,532,682.78
收到其他与经营活动有关的现金 70,742,648.22 30,175,044.28
经营活动现金流入小计 188,006,727.07 108,707,727.06
购买商品、接受劳务支付的现金 33,912,505.74 22,539,400.84
支付给职工以及为职工支付的现金 58,024,562.65 47,407,849.12
支付的各项税费 12,601,101.30 110,898,102.57
支付其他与经营活动有关的现金 27,920,033.48 20,151,714.15
经营活动现金流出小计 132,458,203.17 200,997,066.68
经营活动产生的现金流量净额 (十四)29(1) 55,548,523.90 (92,289,339.62)
二、投资活动产生的现金流量：
收回投资收到的现金 132,784,050.62 442,334,188.43
取得投资收益收到的现金 190,518,036.49 73,644,471.03
处置固定资产、无形资产和其他长期资产收回的现金净额 230.00 1,070.00
收到其他与投资活动有关的现金 5,300,000.00 -
投资活动现金流入小计 328,602,317.11 515,979,729.46
购买子公司和其他经营单位支付的现金净额 174,960,000.00 8,081,170,000.00
购建固定资产、无形资产和其他长期资产支付的现金 34,231,368.83 76,697,979.69
投资所支付的现金 100,000,000.00 13,000,000.00
支付其他与投资活动有关的现金 (十四)28(1) 6,353,619.89 1,161,757,520.10
投资活动现金流出小计 315,544,988.72 9,332,625,499.79
投资活动产生的现金流量净额 13,057,328.39 (8,816,645,770.33)
三、筹资活动产生的现金流量：
取得借款收到的现金 1,530,000,000.00 15,770,000,000.00
收到其他与筹资活动有关的现金 (十四)28(2) 1,472,378,295.96 19,364,837.12
筹资活动现金流入小计 3,002,378,295.96 15,789,364,837.12
偿还债务支付的现金 3,850,000,000.00 5,447,000,000.00
分配股利、利润或偿付利息支付的现金 685,893,992.21 595,326,051.13
筹资活动现金流出小计 4,535,893,992.21 6,042,326,051.13
筹资活动产生的现金流量净额 (1,533,515,696.25) 9,747,038,785.99
四、汇率变动对现金及现金等价物的影响 (10,644,223.08) -
五、现金及现金等价物净增加(减少)额 (1,475,554,067.04) 838,103,676.04
加：期初现金及现金等价物余额 (十四)29(2) 2,827,562,677.11 2,289,364,648.62
六、期末现金及现金等价物余额 (十四)29(2) 1,352,008,610.07 3,127,468,324.66
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
55
上海锦江国际酒店发展股份有限公司
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
合并股东权益变动表
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
项目 归属于母公司所有者权益
少数股东权益 所有者权益合计
股本 资本公积 其他综合收益 盈余公积 未分配利润
一、上期期末余额 957,936,440.00 8,844,864,248.76 601,259,290.86 620,398,935.89 1,776,723,536.56 1,516,814,645.51 14,317,997,097.58
加：会计政策变更 - - - - - - -
二、本期期初余额 957,936,440.00 8,844,864,248.76 601,259,290.86 620,398,935.89 1,776,723,536.56 1,516,814,645.51 14,317,997,097.58
三、本期增减变动金额
(一)综合收益(损失)总额 - - (52,842,589.32) - 412,453,689.41 48,277,029.29 407,888,129.38
(二)所有者投入和减少资本
1．股东投入的普通股 - - - - - - -
2．子公司少数股东投入资本 - - - - - - -
3．子公司少数股东撤回资本(附注(七)2) - - - - - (3,236,256.60) (3,236,256.60)
(三)利润分配
1．提取盈余公积 - - - - - - -
2．对股东的分配 - - - - (459,809,491.20) (3,158,351.93) (462,967,843.13)
(四)所有者权益内部结转 - - - - - - -
(五)专项储备 - - - - - - -
(六)其他
1．非同一控制下企业合并(附注(六)1) - - - - - 22,596,408.10 22,596,408.10
2．处置子公司(附注(六)2) - - - - - (10,672,845.54) (10,672,845.54)
3．其他(附注(五)10) - (34,601,168.38) - - - - (34,601,168.38)
四、本期期末余额 957,936,440.00 8,810,263,080.38 548,416,701.54 620,398,935.89 1,729,367,734.77 1,570,620,628.83 14,237,003,521.41
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
56
上海锦江国际酒店发展股份有限公司
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
合并股东权益变动表
人民币元
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
归属于母公司所有者权益
项目 股本 资本公积 其他综合收益 盈余公积 未分配利润 少数股东权益 所有者权益合计
一、上期期末余额 804,517,740.00 4,482,097,548.95 908,472,146.16 579,263,664.10 1,509,447,901.74 190,706,260.51 8,474,505,261.46
加：会计政策变更 - - - - - - -
二、本期期初余额 804,517,740.00 4,482,097,548.95 908,472,146.16 579,263,664.10 1,509,447,901.74 190,706,260.51 8,474,505,261.46
三、本期增减变动金额
(一)综合收益(损失)总额 - - (245,118,169.58) - 299,157,333.01 15,161,975.13 69,201,138.56
(二)所有者投入和减少资本
1．股东投入的普通股 - - - - - - -
2．子公司少数股东投入资本 - - - - - 22,538,570.00 22,538,570.00
3．子公司少数股东撤回资本 - - - - - - -
(三)利润分配
1．提取盈余公积 - - - - - - -
2．对股东的分配 - - - - (386,168,515.20) (236,043.43) (386,404,558.63)
(四)所有者权益内部结转 - - - - - - -
(五)专项储备 - - - - - - -
(六)其他 - - - - - 1,011,932,781.96 1,011,932,781.96
四、本期期末余额 804,517,740.00 4,482,097,548.95 663,353,976.58 579,263,664.10 1,422,436,719.55 1,240,103,544.17 9,191,773,193.35
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
57
上海锦江国际酒店发展股份有限公司
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
公司股东权益变动表
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间 2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
项目
股本 资本公积 其他综合收益 盈余公积 未分配利润 所有者权益合计 股本 资本公积 其他综合收益 盈余公积 未分配利润 所有者权益合计
一、上期期末余额 957,936,440.00 9,224,047,247.80 496,039,633.30 620,398,935.89 821,220,724.96 12,119,642,981.95 804,517,740.00 4,871,182,047.73 893,238,567.71 579,263,664.10 837,171,794.10 7,985,373,813.64
加：会计政策变更 - - - - - - - - - - - -
二、本期期初余额 957,936,440.00 9,224,047,247.80 496,039,633.30 620,398,935.89 821,220,724.96 12,119,642,981.95 804,517,740.00 4,871,182,047.73 893,238,567.71 579,263,664.10 837,171,794.10 7,985,373,813.64
三、本期增减变动金额
(一)综合收益(损失)总额 - - (104,218,024.33) - 243,619,780.24 139,401,755.91 - - (252,630,069.49) - 344,179,859.49 91,549,790.00
(二)所有者投入和减少资本 - - - - - - - - - - - -
(三)利润分配
1．提取盈余公积 - - - - - - - - - - - -
2．对股东的分配 - - - - (459,809,491.20) (459,809,491.20) - - - - (386,168,515.20) (386,168,515.20)
(四)所有者权益内部结转 - - - - - - - - - - - -
(五)专项储备 - - - - - - - - - - - -
(六)其他(附注(十四)9) - (34,601,168.38) - - - (34,601,168.38) - - - - - -
四、本期期末余额 957,936,440.00 9,189,446,079.42 391,821,608.97 620,398,935.89 605,031,014.00 11,764,634,078.28 804,517,740.00 4,871,182,047.73 640,608,498.22 579,263,664.10 795,183,138.39 7,690,755,088.44
法定代表人： 俞敏亮 主管会计工作负责人： 沈 莉 会计机构负责人： 吴 琳
58
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(一) 公司基本情况
上海锦江国际酒店发展股份有限公司(“公司”或“本公司”)于 1993 年 6 月 9 日在中华人民共和国上海市注
册成立，本公司总部位于上海市。本公司及子公司(“本集团”)在中国大陆境内及境外主要从事有限服务
型酒店营运及管理业务、食品及餐饮等业务。
本公司持有企业法人营业执照，统一社会信用代码为：91310000132203715W。法定代表人为俞敏亮先生。
1993 年 6 月，本公司以定向募集方式成立，股本总额为人民币 235,641,500 元。
1994 年 12 月，本公司溢价发行 1 亿股面值每股人民币 1 元的境内上市外资股(B 股)，发行价为每股 0.35
美元，于 1994 年 12 月 15 日在上海证券交易所上市交易，股本总额增至人民币 335,641,500 元。
1996 年 9 月，本公司经中国证券监督管理委员会批准公开溢价发行 1,900 万股面值每股人民币 1 元的境
内上市人民币普通股(A 股)，发行价为每股人民币 4.90 元，与 600 万股公司内部职工股一并于 1996 年
10 月 11 日在上海证券交易所上市交易，股本总额增至人民币 354,641,500 元。
1997 年 7 月，本公司向全体股东按 10:2 的比例用资本公积金转增股本，股本总额增至人民币 425,569,800
元。
1998 年 7 月，本公司向全体股东按 10:2 的比例派送股票股利，按 10:1 的比例用资本公积转增股本，股
本总额增至人民币 553,240,740 元。
2001 年 1 月，本公司经中国证券监督管理委员会批准公开溢价增发 5,000 万股面值每股人民币 1 元的境
内上市人民币普通股(A 股)，发行价为每股人民币 10.80 元，上述新增股份于 2001 年 1 月 19 日起在上海
证券交易所分批上市。发行后总股本增至人民币 603,240,740 元。
本公司于 2006 年 1 月 23 日进行股权分置改革，由全体非流通股股东向股权分置改革方案所约定的股权
登记日(2006 年 1 月 19 日)登记在册的流通 A 股股东每 10 股支付 3.1 股股份对价。根据股权分置改革方
案，2007 年 1 月 23 日有限售条件的流通股上市 49,009,806 股，2007 年 3 月 21 日有限售条件的流通股上
市 10,065,610 股，2008 年 1 月 23 日有限售条件的流通股上市 30,162,037 股，2009 年 1 月 23 日有限售条
件的流通股上市 229,151,687 股。于 2009 年 1 月 23 日，所有原非流通股股东所持有的股份均已实现流通，
共计 318,389,140 股有限售条件的流通股上市。
于 2014 年 10 月 29 日，中国证券监督管理委员会以中国证监会证监许可[2014]1129 号《关于核准上海锦
江国际酒店发展股份有限公司非公开发行股票的批复》核准了本公司非公开发行股票事项。据此，本公
司向弘毅(上海)股权投资基金中心(有限合伙) (“弘毅投资基金”)和上海锦江国际酒店(集团)股份有限公司
(“锦江酒店集团”)非公开发行合计 201,277,000 股人民币普通股(A 股)，面值为每股人民币 1 元，发行价
格为每股人民币 15.08 元，募集资金总额为人民币 3,035,257,160 元，扣除发行费用人民币 7,001,277 元，
募集资金净额为人民币 3,028,255,883 元，其中，计入股本人民币 201,277,000 元，计入资本公积人民币
2,826,978,883 元。本次非公开发行后股本总额增至人民币 804,517,740 元。
于 2015 年 2 月 16 日，公司之全资子公司卢森堡海路投资有限公司(“海路投资”)与 Star SDL Investment Co S.à
r.l. (“Star SDL”)签署股权购买协议，收购交易对方全资子公司 Groupe du Louvre (“GDL”)全部股权。于 2015
年 2 月 27 日，双方完成了股权交割。
于 2015 年 9 月 18 日，公司与 Keystone Lodging Holdings Limited(“Keystone”)原股东签署股份购买协议，
收购 Keystone 81.0034%股权。于 2016 年 2 月 26 日，股权交割完成，公司正式成为 Keystone 的控股股
东。
59
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(一) 公司基本情况 - 续
于 2016 年 4 月 28 日，公司与黄德满先生签署股权购买协议，分别收购黄德满先生持有的维也纳酒店有
限公司(“维也纳酒店”)及深圳市百岁村餐饮连锁有限公司(“百岁村餐饮”)80%股权。于 2016 年 7 月 1 日，
股权交割完成，公司正式成为维也纳酒店及百岁村餐饮的控股股东。
于 2016 年 7 月 12 日，中国证券监督管理委员会以中国证监会证监许可[2016]1090 号《关于核准上海锦
江国际酒店发展股份有限公司非公开发行股票的批复》核准了公司非公开发行股票事项。据此，公司向
锦江酒店集团、弘毅投资基金、上海国盛集团投资有限公司、中国长城资产管理公司、华安未来资产管
理(上海)有限公司和上海国际集团资产管理有限公司非公开发行合计 153,418,700 股人民币普通股(A 股)，
面值为每股人民币 1 元，发行价格为每股人民币 29.45 元，募集资金总额为人民币 4,518,180,715.00 元，
扣除发行费用及相关费用中可抵扣进项税金后，募集资金净额为人民币 4,506,283,900.07 元，其中，计入
股本人民币 153,418,700.00 元，计入资本公积人民币 4,352,865,200.07 元。本次非公开发行后股本总额增
至人民币 957,936,440.00 元。
于 2017 年 6 月 30 日，公司股份总数为 957,936,440 股。锦江酒店集团持有公司 482,007,225 股股份，占
总股本 50.32%，为公司控股股东。锦江国际(集团)有限公司(“锦江国际”)为锦江酒店集团的控股股东及
公司的最终控股股东。
本公司的公司及合并财务报表已经本公司董事会于 2017 年 8 月 29 日批准报出。
(二) 财务报表的编制基础
编制基础
本集团执行财政部颁布的企业会计准则及相关规定。此外，本集团还按照《公开发行证券的公司信息披
露编报规则第 15 号—财务报告的一般规定(2014 年修订)》披露有关财务信息。
记账基础和计价原则
本集团会计核算以权责发生制为记账基础。除某些金融工具以公允价值计量外，本财务报表以历史成本
作为计量基础。资产如果发生减值，则按照相关规定计提相应的减值准备。
在历史成本计量下，资产按照购置时支付的现金或者现金等价物的金额或者所付出的对价的公允价值计
量。负债按照因承担现时义务而实际收到的款项或者资产的金额，或者承担现时义务的合同金额，或者
按照日常活动中为偿还负债预期需要支付的现金或者现金等价物的金额计量。
公允价值是市场参与者在计量日发生的有序交易中，出售一项资产所能收到或者转移一项负债所需支付
的价格。无论公允价值是可观察到的还是采用估值技术估计的，在本财务报表中计量和披露的公允价值
均在此基础上予以确定。
公允价值计量基于公允价值的输入值的可观察程度以及该等输入值对公允价值计量整体的重要性，被划
分为三个层次：
第一层次输入值是在计量日能够取得的相同资产或负债在活跃市场上未经调整的报价。
第二层次输入值是除第一层次输入值外相关资产或负债直接或间接可观察的输入值。
第三层次输入值是相关资产或负债的不可观察输入值。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计
1、遵循企业会计准则的声明
本公司编制的财务报表符合企业会计准则的要求，真实、完整地反映了本公司于 2017 年 6 月 30 日的公
司及合并财务状况以及 2017 年 1 月 1 日至 2017 年 6 月 30 日止期间的公司及合并经营成果和公司及合并
现金流量。
2、会计期间
本集团的会计年度为公历年度，即每年 1 月 1 日起至 12 月 31 日止。本财务报表的会计期间为 2017 年 1
月 1 日起至 2017 年 6 月 30 日止。
3、营业周期
本集团在中国大陆境内及境外主要从事有限服务型酒店营运及管理业务、食品及餐饮等业务，营业周期
通常约为12个月。
4、记账本位币
人民币为本公司及境内子公司经营所处的主要经济环境中的货币，本公司及境内子公司以人民币为记账
本位币。本公司之境外子公司根据其经营所处经济环境中的主要货币确定其记账本位币。本集团编制本
财务报表时所采用的货币为人民币。
5、同一控制下和非同一控制下企业合并的会计处理方法
企业合并分为同一控制下企业合并和非同一控制下企业合并。
5.1 同一控制下的企业合并
参与合并的企业在合并前后均受同一方或相同的多方最终控制，且该控制并非暂时性的，为同一控制下
的企业合并。
在企业合并中取得的资产和负债，按合并日其在被合并方的账面价值计量。合并方取得的净资产账面价
值与支付的合并对价的账面价值的差额，调整资本公积中的股本溢价，股本溢价不足冲减的则调整留存
收益。
为进行企业合并发生的各项直接费用，于发生时计入当期损益。
5.2 非同一控制下的企业合并及商誉
参与合并的企业在合并前后不受同一方或相同的多方最终控制，为非同一控制下的企业合并。
合并成本指购买方为取得被购买方的控制权而付出的资产、发生或承担的负债和发行的权益性工具的公
允价值。通过多次交易分步实现非同一控制下的企业合并的，合并成本为购买日支付的对价与购买日之
前已经持有的被购买方的股权在购买日的公允价值之和。购买方为企业合并发生的审计、法律服务、评
估咨询等中介费用以及其他相关管理费用，于发生时计入当期损益。
购买方在合并中所取得的被购买方符合确认条件的可辨认资产、负债及或有负债在购买日以公允价值计
量。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
5、同一控制下和非同一控制下企业合并的会计处理方法 - 续
5.2 非同一控制下的企业合并及商誉 - 续
合并成本大于合并中取得的被购买方可辨认净资产公允价值份额的差额，作为一项资产确认为商誉并按
成本进行初始计量。合并成本小于合并中取得的被购买方可辨认净资产公允价值份额的，首先对取得的
被购买方各项可辨认资产、负债及或有负债的公允价值以及合并成本的计量进行复核，复核后合并成本
仍小于合并中取得的被购买方可辨认净资产公允价值份额的，计入当期损益。
因企业合并形成的商誉在合并财务报表中单独列报，并按照成本扣除累计减值准备后的金额计量。
6、合并财务报表的编制方法
合并财务报表的编制方法
合并财务报表的合并范围以控制为基础予以确定。控制是指投资方拥有对被投资方的权力，通过参与被
投资方的相关活动而享有可变回报，并且有能力运用对被投资方的权力影响其回报金额。一旦相关事实
和情况的变化导致上述控制定义涉及的相关要素发生了变化，本集团将进行重新评估。
子公司的合并起始于本集团获得对该子公司的控制权时，终止于本集团丧失对该子公司的控制权时。
对于本集团处置的子公司，处置日(丧失控制权的日期)前的经营成果和现金流量已经适当地包括在合并
利润表和合并现金流量表中。
对于通过非同一控制下的企业合并取得的子公司，其自购买日(取得控制权的日期)起的经营成果及现金
流量已经适当地包括在合并利润表和合并现金流量表中。
对于通过同一控制下的企业合并取得的子公司，无论该项企业合并发生在报告期的任一时点，视同该子
公司同受最终控制方控制之日起纳入本集团的合并范围，其自报告期最早期间期初起的经营成果和现金
流量已适当地包括在合并利润表和合并现金流量表中。
子公司采用的主要会计政策和会计期间按照本公司统一规定的会计政策和会计期间厘定。
本公司与子公司及子公司相互之间发生的内部交易对合并财务报表的影响于合并时抵销。
子公司所有者权益中不属于母公司的份额作为少数股东权益，在合并资产负债表中股东权益项目下以“少
数股东权益”项目列示。子公司当期净损益中属于少数股东权益的份额，在合并利润表中净利润项目下以
“少数股东损益”项目列示。
少数股东分担的子公司的亏损超过了少数股东在该子公司期初所有者权益中所享有的份额，其余额仍冲
减少数股东权益。
对于购买子公司少数股权或因处置部分股权投资但没有丧失对该子公司控制权的交易，作为权益性交易
核算，调整归属于母公司所有者权益和少数股东权益的账面价值以反映其在子公司中相关权益的变化。
少数股东权益的调整额与支付/收到对价的公允价值之间的差额调整资本公积，资本公积不足冲减的，调
整留存收益。
因处置部分股权投资或其他原因丧失了对原有子公司控制权的，剩余股权按照其在丧失控制权日的公允
价值进行重新计量。处置股权取得的对价与剩余股权公允价值之和，减去按原持股比例计算应享有原子
公司自购买日开始持续计算的净资产的份额之间的差额，计入丧失控制权当期的投资收益, 同时冲减商
誉。与原有子公司股权投资相关的其他综合收益，在丧失控制权时转为当期投资收益。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
7、现金及现金等价物的确定标准
现金是指库存现金以及可以随时用于支付的存款。现金等价物是指本集团持有的期限短、流动性强、易
于转换为已知金额现金、价值变动风险很小的投资。
8、外币业务和外币报表折算
8.1 外币业务
外币交易在初始确认时采用交易发生日的即期汇率折算入账。
于资产负债表日，外币货币性项目采用该日即期汇率折算为记账本位币，因该日的即期汇率与初始确认
时或者前一资产负债表日即期汇率不同而产生的汇兑差额，除：(1)符合资本化条件的外币专门借款的汇
兑差额在资本化期间予以资本化计入相关资产的成本；(2)为了规避外汇风险进行套期的套期工具的汇兑
差额按套期会计方法处理；(3)可供出售货币性项目除摊余成本之外的其他账面余额变动产生的汇兑差额
计入其他综合收益外，均计入当期损益。
编制合并财务报表涉及境外经营的，如有实质上构成对境外经营净投资的外币货币性项目，因汇率变
动而产生的汇兑差额，列入股东权益“外币报表折算差额”项目；处置境外经营时，计入处置当期损益。
以历史成本计量的外币非货币性项目仍以交易发生日的即期汇率折算的记账本位币金额计量。以公允价
值计量的外币非货币性项目，采用公允价值确定日的即期汇率折算，折算后的记账本位币金额与原记账
本位币金额的差额，作为公允价值变动(含汇率变动)处理，计入当期损益或确认为其他综合收益。
8.2 外币财务报表折算
为编制合并财务报表，境外经营的外币财务报表按以下方法折算为记账本位币报表：资产负债表中的所
有资产、负债类项目按资产负债表日的即期汇率折算；所有者权益项目按发生时的即期汇率折算；利润
表中的所有项目及反映利润分配发生额的项目按交易发生日即期汇率近似的汇率折算；折算后资产类项
目与负债类项目和股东权益类项目合计数的差额确认为其他综合收益并计入股东权益。
外币现金流量以及境外子公司的现金流量，采用现金流量发生日即期汇率近似的汇率折算，汇率变动对
现金及现金等价物的影响额，作为调节项目，在现金流量表中以“汇率变动对现金及现金等价物的影响”
单独列示。
年初数和上年实际数按照上年财务报表折算后的数额列示。
在处置本集团在境外经营的全部所有者权益或因处置部分股权投资或其他原因丧失了对境外经营控制权
时，将资产负债表中所有者权益项目下列示的、与该境外经营相关的归属于母公司所有者权益的外币报
表折算差额，全部转入处置当期损益。
在处置部分股权投资或其他原因导致持有境外经营权益比例降低但不丧失对境外经营控制权时，与该境
外经营处置部分相关的外币报表折算差额将归属于少数股东权益，不转入当期损益。在处置境外经营为
联营企业或合营企业的部分股权时，与该境外经营相关的外币报表折算差额，按处置该境外经营的比例
转入处置当期损益。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具
在本集团成为金融工具合同的一方时确认一项金融资产或金融负债。金融资产和金融负债在初始确认时
以公允价值计量。对于以公允价值计量且其变动计入当期损益的金融资产和金融负债，相关的交易费用
直接计入损益，对于其他类别的金融资产和金融负债，相关交易费用计入初始确认金额。
9.1 实际利率法
实际利率法是指按照金融资产或金融负债(含一组金融资产或金融负债)的实际利率计算其摊余成本及各
期利息收入或支出的方法。实际利率是指将金融资产或金融负债在预期存续期间或适用的更短期间内的
未来现金流量，折现为该金融资产或金融负债当前账面价值所使用的利率。
在计算实际利率时，本集团在考虑金融资产或金融负债所有合同条款的基础上预计未来现金流量(不考虑
未来的信用损失)，同时还考虑金融资产或金融负债合同各方之间支付或收取的、属于实际利率组成部分
的各项收费、交易费用及折价或溢价等。
9.2 金融资产的分类、确认和计量
金融资产在初始确认时划分为以公允价值计量且其变动计入当期损益的金融资产、持有至到期投资、贷
款和应收款项以及可供出售金融资产。以常规方式买卖金融资产，按交易日会计进行确认和终止确认。
本集团持有的金融资产主要包括贷款和应收款项以及可供出售金融资产。
9.2.1 贷款和应收款项
贷款和应收款项是指在活跃市场中没有报价、回收金额固定或可确定的非衍生金融资产。本集团划分为
贷款和应收款的金融资产包括应收账款、应收利息、应收股利及其他应收款等。
贷款和应收款项采用实际利率法，按摊余成本进行后续计量。在终止确认、发生减值或摊销时产生的利
得或损失，计入当期损益。
9.2.2 可供出售金融资产
可供出售金融资产包括初始确认时即被指定为可供出售的非衍生金融资产以及除了以公允价值计量且
其变动计入当期损益的金融资产、贷款和应收款项、持有至到期投资以外的金融资产。
可供出售金融资产采用公允价值进行后续计量，公允价值变动形成的利得或损失，除减值损失和外币货
币性金融资产与摊余成本相关的汇兑差额计入当期损益外，确认为其他综合收益，在该金融资产终止确
认时转出，计入当期损益。
可供出售金融资产持有期间取得的利息及被投资单位宣告发放的现金股利，计入投资收益。
在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资，按照成本计量。
9.3 金融资产减值
除了以公允价值计量且其变动计入当期损益的金融资产外，本集团在每个资产负债表日对其他金融资产
的账面价值进行检查，有客观证据表明金融资产发生减值的，计提减值准备。表明金融资产发生减值的
客观证据是指金融资产初始确认后实际发生的、对该金融资产的预计未来现金流量有影响，且能够对该
影响进行可靠计量的事项。
64
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.3 金融资产减值 - 续
金融资产发生减值的客观证据，包括下列可观察到的各项事项：
(1) 发行方或债务人发生严重财务困难；
(2) 债务人违反了合同条款，如偿付利息或本金发生违约或逾期等；
(3) 本集团出于经济或法律等方面因素的考虑，对发生财务困难的债务人作出让步；
(4) 债务人很可能倒闭或者进行其他财务重组；
(5) 因发行方发生重大财务困难，导致金融资产无法在活跃市场继续交易；
(6) 无法辨认一组金融资产中的某项资产的现金流量是否已经减少，但根据公开的数据对其进行总体评
价后发现，该组金融资产自初始确认以来的预计未来现金流量确已减少且可计量，包括：
- 该组金融资产的债务人支付能力逐步恶化；
- 债务人所在国家或地区经济出现了可能导致该组金融资产无法支付的状况；
(7) 权益工具发行人经营所处的技术、市场、经济或法律环境等发生重大不利变化，使权益工具投资人
可能无法收回投资成本；
(8) 权益工具投资的公允价值发生严重或非暂时性下跌；
(9) 其他表明金融资产发生减值的客观证据。
- 以摊余成本计量的金融资产减值
以摊余成本计量的金融资产发生减值时，将其账面价值减记至按照该金融资产的原实际利率折现确定的
预计未来现金流量 (不包括尚未发生的未来信用损失)现值，减记金额确认为减值损失，计入当期损益。
金融资产确认减值损失后，如有客观证据表明该金融资产价值已恢复，且客观上与确认该损失后发生的
事项有关，原确认的减值损失予以转回，但金融资产转回减值损失后的账面价值不超过假定不计提减值
准备情况下该金融资产在转回日的摊余成本。
本集团对单项金额重大的金融资产单独进行减值测试；对单项金额不重大的金融资产，单独进行减值测
试或包括在具有类似信用风险特征的金融资产组合中进行减值测试。单独测试未发生减值的金融资产(包
括单项金额重大和不重大的金融资产)，包括在具有类似信用风险特征的金融资产组合中再进行减值测试。
已单项确认减值损失的金融资产，不包括在具有类似信用风险特征的金融资产组合中进行减值测试。
- 可供出售金融资产减值
对于可供出售权益工具投资，于资产负债表日，若一项权益工具投资的公允价值低于其初始投资成本超
过50%(含50%)，或低于其初始投资成本持续时间超过12个月(含12个月)，认定为公允价值发生严重或非
暂时性下跌，即发生减值。
可供出售金融资产发生减值时，将原直接计入其他综合收益的因公允价值下降形成的累计损失予以转出
并计入当期损益，该转出的累计损失为该资产初始取得成本扣除已收回本金和已摊销金额、当前公允价
值和原已计入损益的减值损失后的余额。
在确认减值损失后，期后如有客观证据表明该金融资产价值已恢复，且客观上与确认该损失后发生的事
项有关，原确认的减值损失予以转回，可供出售权益工具投资的减值损失转回确认为其他综合收益，可
供出售债务工具的减值损失转回计入当期损益。
65
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.3 金融资产减值 - 续
- 以成本计量的金融资产减值
在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资，或与该权益工具挂钩并须通过交付
该权益工具结算的衍生金融资产发生减值时，将其账面价值减记至与按照类似金融资产当时市场收益率
对未来现金流量折现确定的现值，减记金额确认为减值损失，计入当期损益。此类金融资产的减值损失
一经确认不予转回。
9.4 金融资产的转移
本集团的金融资产转移，包括下列两种情形：
(1) 收取该金融资产现金流量的合同权利已转移；或
(2) 将金融资产转移给另一方，但保留了收取该金融资产现金流量的合同权利并承担将收取的现金流量
支付给最终收款方的义务，同时满足下列条件：
从该金融资产收到对等的现金流量时，才有义务将其支付给最终收款方。本集团发生短期垫付款，
但有权全额收回该垫付款并按照市场上同期银行贷款利率计收利息的，视同满足本条件；
根据合同约定，不能出售该金融资产或作为担保物，但可以将其作为对最终收款方支付现金流量
的保证；
有义务将收取的现金流量及时支付给最终收款方。本集团无权将该现金流量进行再投资，但按照
合同约定在相邻两次支付间隔期内将所收到的现金流量进行现金或现金等价物投资的除外。本集
团按照合同约定进行再投资的，应当将投资收益按照合同约定支付给最终收款方。
某项金融资产或某项金融资产的一部分在满足下列条件之一时，将被终止确认：
(1) 收取该金融资产现金流量的合同权利终止；或
(2) 该金融资产已转移，且在满足下列条件之一时：
本集团已转移与该金融资产所有权上几乎所有的风险和报酬；或
本集团既没有转移也没有保留金融资产所有权上几乎所有的风险和报酬，也没有保留对该金融资
产控制。
若金融资产已转移且既没有转移也没有保留金融资产所有权上几乎所有的风险和报酬，也没有转移对该
金融资产的控制，则本集团会根据继续涉入所转移金融资产的程度确认有关金融资产。
金融资产转移满足终止确认条件的，将所转移金融资产的账面价值及因转移而收到的对价与原计入其他
综合收益的公允价值变动累计额之和的差额计入当期损益。
9.5 金融负债的分类、确认及计量
本集团根据所发行金融工具的合同条款及其所反映的经济实质而非仅以法律形式，结合金融负债和权益
工具的定义，在初始确认时将该金融工具或其组成部分分类为金融负债或权益工具。
金融负债在初始确认时划分为以公允价值计量且其变动计入当期损益的金融负债和其他金融负债。
66
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.5 金融负债的分类、确认及计量 - 续
9.5.1 以公允价值计量且其变动计入当期损益的金融负债
以公允价值计量且其变动计入当期损益的金融负债，包括交易性金融负债和指定为以公允价值计量且其
变动计入当期损益的金融负债。
满足下列条件之一的金融负债划分为交易性金融负债：(1)承担该金融负债的目的，主要是为了近期内回
购；(2)初始确认时即属于进行集中管理的可辨认金融工具组合的一部分，且有客观证据表明本集团近期
采用短期获利方式对该组合进行管理；(3)属于衍生工具，但是被指定且为有效套期工具的衍生工具、属
于财务担保合同的衍生工具、与在活跃市场中没有报价且其公允价值不能可靠计量的权益工具投资挂钩
并须通过交付该权益工具结算的衍生工具除外。
符合下列条件之一的金融负债，在初始确认时可以指定为以公允价值计量且其变动计入当期损益的金融
负债：(1)该指定可以消除或明显减少由于该金融负债的计量基础不同所导致的相关利得或损失在确认和
计量方面不一致的情况；(2)本集团风险管理或投资策略的正式书面文件已载明，该金融负债所在的金融
负债组合或金融资产和金融负债组合以公允价值为基础进行管理、评价并向关键管理人员报告；(3)符合
条件的包含嵌入衍生工具的混合工具。
以公允价值计量且其变动计入当期损益的金融负债采用公允价值进行后续计量，公允价值变动形成的利
得或损失以及与该等金融负债相关的股利和利息支出计入当期损益。
9.5.2 其他金融负债
与在活跃市场中没有报价、公允价值不能可靠计量的权益工具挂钩并须通过交付该权益工具结算的衍生
金融负债，按照成本进行后续计量。除财务担保合同负债外的其他金融负债采用实际利率法，按摊余本
进行后续计量，终止确认或摊销产生的利得或损失计入当期损益。
9.5.3 财务担保合同
财务担保合同是指保证人和债权人约定，当债务人不履行债务时，保证人按照约定履行债务或者承担责
任的合同。不属于指定为以公允价值计量且其变动计入当期损益的金融负债的财务担保合同，以公允价
值减直接归属的交易费用进行初始确认，在初始确认后按照《企业会计准则第13 号—或有事项》确定的
金额和初始确认金额扣除按照《企业会计准则第14 号—收入》的原则确定的累计摊销额后的余额之中的
较高者进行后续计量。
9.6 金融负债的终止确认
金融负债的现时义务全部或部分已经解除的，终止确认该金融负债或其一部分。本集团(债务人)与债权
人之间签订协议，以承担新金融负债方式替换现存金融负债，且新金融负债与现存金融负债的合同条款
实质上不同的，终止确认现存金融负债，并同时确认新金融负债。
金融负债全部或部分终止确认的，将终止确认部分的账面价值与支付的对价(包括转出的非现金资产或承
担的新金融负债)之间的差额，计入当期损益。
67
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
9、金融工具 - 续
9.7 衍生工具
衍生金融工具，包括利率互换合同等。衍生工具于相关合同签署日以公允价值进行初始计量，并以公允
价值进行后续计量。除指定为套期工具且套期高度有效的衍生工具，其公允价值变动形成的利得或损失
将根据套期关系的性质按照套期会计的要求确定计入损益的期间外，其余衍生工具的公允价值变动计入
当期损益。
9.8 金融资产和金融负债的抵销
当本集团具有抵销已确认金融资产和金融负债的法定权利，且该种法定权利是当前可执行的，同时本集
团计划以净额结算或同时变现该金融资产和清偿该金融负债时，金融资产和金融负债以相互抵销后的金
额在资产负债表内列示。除此以外，金融资产和金融负债在资产负债表内分别列示，不予相互抵销。
9.9 权益工具
权益工具是指能证明拥有本集团在扣除所有负债后的资产中的剩余权益的合同。本集团发行(含再融资)、
回购、出售或注销权益工具作为权益的变动处理。本集团不确认权益工具的公允价值变动。与权益性交
易相关的交易费用从权益中扣减。
本集团对权益工具持有方的分配作为利润分配处理，发放的股票股利不影响股东权益总额。
10、应收款项
10.1 单项金额重大并单独计提坏账准备的应收款项：
本集团将单项金额大于人民币 500 万元(含人民币 500 万元)的应
单项金额重大的判断依据或金额标准
收款项认定为单项金额重大的应收款项。
本集团对单项金额重大的应收款项单独进行减值测试，单独测
试未发生减值的金融资产，包括在具有类似信用风险特征的金
单项金额重大并单项计提坏账准备的
融资产组合中进行减值测试。单项测试已确认减值损失的应收
计提方法
款项，不再包括在具有类似信用风险特征的应收款项组合中进
行减值测试。
10.2 按信用风险特征组合计提坏账准备的应收款项：
按信用风险特征组合计提坏账准备的计提方法
中国大陆境内有限服务型酒店营运及管理业务 账龄分析法
的应收账款
中国大陆境外有限服务型酒店营运及管理业务 账龄分析法
的应收账款
68
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
10、应收款项 - 续
10.2 按信用风险特征组合计提坏账准备的应收款项： - 续
组合中，采用账龄分析法计提坏账准备的：
中国大陆境内有限服务型酒店营运及管理业务的应收账款
账龄 应收账款坏账准备的计提比例(%)
3 个月以内 -
3 个月-6 个月 0.50
6 个月-1 年 25.00
1 年以上 100.00
中国大陆境外有限服务型酒店营运及管理业务的应收账款
账龄 应收账款坏账准备的计提比例(%)
0-120 天 -
121-150 天 20.00
151-180 天 30.00
181 天-1 年 50.00
1-2 年 70.00
2 年以上 90.00
本集团认为除上述应收账款外，其他应收款项如在单独进行减值测试后未发生减值，其减值风险极低，
不再进行进一步减值测试。
10.3 单项金额不重大但单独计提坏账准备的应收款项：
本集团对有客观证据表明单项金额虽不重大，但因
单项计提坏账准备的理由 其发生了特殊减值的应收款项以及所有的其他应收
款进行单项减值测试
单独进行减值测试，按预计未来现金流量现值低于
单项金额不重大但单项计提坏账准备的计提方法
其账面价值的差额计提坏账准备，计入当期损益。
11、存货
11.1 存货的分类
本集团的存货主要包括原材料、产成品和库存商品等。存货按成本进行初始计量，存货成本包括采购成
本、加工成本和其他使存货达到目前场所和状态所发生的支出。
11.2 发出存货的计价方法
存货发出时，采用加权平均法或先进先出法确定发出存货的实际成本。
69
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
11、存货 - 续
11.3 存货可变现净值的确定依据
资产负债表日，存货按照成本与可变现净值孰低计量。当其可变现净值低于成本时，提取存货跌价准备。
可变现净值是指在日常活动中，存货的估计售价减去至完工时估计将要发生的成本、估计的销售费用以
及相关税费后的金额。在确定存货的可变现净值时，以取得的确凿证据为基础，同时考虑持有存货的目
的以及资产负债表日后事项的影响。
存货按单个存货项目的成本高于其可变现净值的差额提取存货跌价准备。
计提存货跌价准备后，如果以前减记存货价值的影响因素已经消失，导致存货的可变现净值高于其账面
价值的，在原已计提的存货跌价准备金额内予以转回，转回的金额计入当期损益。
11.4 存货的盘存制度
存货盘存制度为永续盘存制。
11.5 低值易耗品和包装物的摊销方法
包装物与低值易耗品采用一次转销法进行摊销。酒店新开业所领用的大量低值易耗品，在领用后 12 个月
内进行摊销。
12、长期股权投资
12.1 共同控制、重要影响的判断标准
控制是指投资方拥有对被投资方的权力，通过参与被投资方的相关活动而享有可变回报，并且有能力运
用对被投资方的权力影响其回报金额。共同控制是指按照相关约定对某项安排所共有的控制，并且该安
排的相关活动必须经过分享控制权的参与方一致同意后才能决策。重大影响是指对被投资方的财务和经
营政策有参与决策的权力，但并不能够控制或者与其他方一起共同控制这些政策的制定。在确定能否对
被投资单位实施控制或施加重大影响时，已考虑投资方和其他方持有的被投资单位当期可转换公司债券、
当期可执行认股权证等潜在表决权因素。
12.2 初始投资成本的确定
对于同一控制下的企业合并取得的长期股权投资，在合并日按照被合并方所有者权益在最终控制方合并
财务报表中的账面价值的份额作为长期股权投资的初始投资成本。长期股权投资初始投资成本与支付的
现金、转让的非现金资产以及所承担债务账面价值之间的差额，调整资本公积；资本公积不足冲减的，
调整留存收益。以发行权益性证券作为合并对价的，在合并日按照被合并方所有者权益在最终控制方合
并财务报表中的账面价值的份额作为长期股权投资的初始投资成本，按照发行股份的面值总额作为股本，
长期股权投资初始投资成本与所发行股份面值总额之间的差额，调整资本公积；资本公积不足冲减的，
调整留存收益。
对于非同一控制下的企业合并取得的长期股权投资，在购买日按照合并成本作为长期股权投资的初始投
资成本。
合并方或购买方为企业合并发生的审计、法律服务、评估咨询等中介费用以及其他相关管理费用，于发
生时计入当期损益。
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(三) 重要会计政策和会计估计 - 续
12、长期股权投资 - 续
12.2 初始投资成本的确定 - 续
除企业合并形成的长期股权投资外其他方式取得的长期股权投资，按成本进行初始计量。对于能够对被
投资单位实施重大影响或实施共同控制但不构成控制的，长期股权投资成本为按照《企业会计准则第 22
号—金融工具确认和计量》确定的原持有股权投资的公允价值加上新增投资成本之和。
12.3 后续计量及损益确认方法
12.3.1 成本法核算的长期股权投资
公司财务报表采用成本法核算对子公司的长期股权投资。子公司是指本集团能够对其实施控制的被投资
主体。
采用成本法核算的长期股权投资按初始投资成本计价。追加或收回投资调整长期股权投资的成本。当期
投资收益按照享有被投资单位宣告发放的现金股利或利润确认。
12.3.2 权益法核算的长期股权投资
本集团对联营企业和合营企业的投资采用权益法核算。联营企业是指本集团能够对其施加重大影响的被
投资单位，合营企业是指本集团仅对该安排的净资产享有权利的合营安排。
采用权益法核算时，长期股权投资的初始投资成本大于投资时应享有被投资单位可辨认净资产公允价值
份额的，不调整长期股权投资的初始投资成本；初始投资成本小于投资时应享有被投资单位可辨认净资
产公允价值份额的，其差额计入当期损益，同时调整长期股权投资的成本。
采用权益法核算时，按照应享有或应分担的被投资单位实现的净损益和其他综合收益的份额，分别确认
投资收益和其他综合收益，同时调整长期股权投资的账面价值；按照被投资单位宣告分派的利润或现金
股利计算应享有的部分，相应减少长期股权投资的账面价值；对于被投资单位除净损益、其他综合收益
和利润分配以外所有者权益的其他变动，调整长期股权投资的账面价值并计入资本公积。在确认应享有
被投资单位净损益的份额时，以取得投资时被投资单位各项可辨认资产等的公允价值为基础，对被投资
单位的净利润进行调整后确认。被投资单位采用的会计政策及会计期间与本公司不一致的，按照本公司
的会计政策及会计期间对被投资单位的财务报表进行调整，并据以确认投资收益和其他综合收益。对于
本集团与联营企业及合营企业之间发生的交易，投出或出售的资产不构成业务的，未实现内部交易损益
按照享有的比例计算归属于本集团的部分予以抵销，在此基础上确认投资损益。但本集团与被投资单位
发生的未实现内部交易损失，属于所转让资产减值损失的，不予以抵销。
在确认应分担被投资单位发生的净亏损时，以长期股权投资的账面价值和其他实质上构成对被投资单位
净投资的长期权益减记至零为限。此外，如本集团对被投资单位负有承担额外损失的义务，则按预计承
担的义务确认预计负债，计入当期投资损失。被投资单位以后期间实现净利润的，本集团在收益分享额
弥补未确认的亏损分担额后，恢复确认收益分享额。
12.4 长期股权投资处置
处置长期股权投资时，其账面价值与实际取得价款的差额，计入当期损益。
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(三) 重要会计政策和会计估计 - 续
13、固定资产
13.1 确认条件
固定资产是指为生产商品、提供劳务、出租或经营管理而持有的，使用寿命超过一个会计年度的有形资
产。固定资产仅在与其有关的经济利益很可能流入本集团，且其成本能够可靠地计量时才予以确认。固
定资产按成本进行初始计量。
与固定资产有关的后续支出，如果与该固定资产有关的经济利益很可能流入且其成本能可靠地计量，则
计入固定资产成本，并终止确认被替换部分的账面价值。除此以外的其他后续支出，在发生时计入当期
损益。
13.2 折旧方法
除使用寿命不确定的土地不予折旧外，其他固定资产从达到预定可使用状态的次月起，采用年限平均法
在使用寿命内计提折旧。各类固定资产的折旧方法、使用寿命、预计净残值率和年折旧率如下：
类别 折旧方法 折旧年限(年) 残值率(%) 年折旧率(%)
房屋及建筑物 年限平均法 20-60 0-10 1.58-4.50
机器设备 年限平均法 3-20 0-10 4.50-30.00
运输工具 年限平均法 4-10 5-10 9.00-23.75
固定资产装修支出 年限平均法 3-10 0 10.00-33.33
预计净残值是指假定固定资产预计使用寿命已满并处于使用寿命终了时的预期状态，本集团目前从该项
资产处置中获得的扣除预计处置费用后的金额。
13.3 融资租入固定资产的认定依据、计价和折旧方法
于租赁期开始日，将租赁开始日租赁资产的公允价值与最低租赁付款额现值两者中较低者作为租入资产
的入账价值，将最低租赁付款额作为长期应付款的入账价值，其差额作为未确认融资费用。此外，在租
赁谈判和签订租赁合同过程中发生的，可归属于租赁项目的初始直接费用也计入租入资产价值。
以融资租赁方式租入的固定资产采用与自有固定资产一致的政策计提租赁资产折旧。能够合理确定租赁
期届满时取得租赁资产所有权的在租赁资产使用寿命内计提折旧，无法合理确定租赁期届满能够取得租
赁资产所有权的，在租赁期与租赁资产使用寿命两者中较短的期间内计提折旧。
13.4 其他说明
当固定资产处于处置状态或预期通过使用或处置不能产生经济利益时，终止确认该固定资产。固定资产
出售、转让、报废或毁损的处置收入扣除其账面价值和相关税费后的差额计入当期损益。
本集团至少于年度终了对固定资产的使用寿命、预计净残值和折旧方法进行复核，如发生改变则作为会
计估计变更处理。
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(三) 重要会计政策和会计估计 - 续
14、在建工程
在建工程按实际成本计量，实际成本包括在建期间发生的各项工程支出、工程达到预定可使用状态前的
资本化的借款费用以及其他相关费用等。在建工程不计提折旧。在建工程在达到预定可使用状态后结转
为固定资产。
15、借款费用
可直接归属于符合资本化条件的资产的购建或者生产的借款费用，在资产支出已经发生、借款费用已经
发生、为使资产达到预定可使用或可销售状态所必要的购建或生产活动已经开始时，开始资本化；构建
或者生产的符合资本化条件的资产达到预定可使用状态或者可销售状态时，停止资本化。如果符合资本
化条件的资产在购建或生产过程中发生非正常中断、并且中断时间连续超过 3 个月的，暂停借款费用的
资本化，直至资产的购建或生产活动重新开始。其余借款费用在发生当期确认为费用。
专门借款当期实际发生的利息费用，减去尚未动用的借款资金存入银行取得的利息收入或进行暂时性投
资取得的投资收益后的金额予以资本化；一般借款根据累计资产支出超过专门借款部分的资产支出加权
平均数乘以所占用一般借款的资本化率，确定资本化金额。资本化率根据一般借款的加权平均利率计算
确定。
16、无形资产
无形资产包括土地使用权、专利和相关权利、长期租约受益权、商标及品牌、会员权、软件等。
无形资产按成本进行初始计量。使用寿命有限的无形资产自可供使用时起，对其原值在其预计使用寿命
内采用直线法分期平均摊销。使用寿命不确定的无形资产不予摊销。各类无形资产的摊销方法、使用寿
命和预计净残值如下：
类别 摊销方法 使用寿命(年) 残值率(%)
土地使用权 直线法分期平均摊销 40 0
长期租约受益权 直线法分期平均摊销 按租赁合同剩余年限 0
商标及品牌 不摊销 不确定 0
会员权 直线法分期平均摊销 20 0
专利、相关权利及软件 直线法分期平均摊销 2-15 0
期末，对使用寿命有限的无形资产的使用寿命和摊销方法进行复核，必要时进行调整。
17、长期资产减值
本集团在每一个资产负债表日检查长期股权投资、固定资产、在建工程、使用寿命确定的无形资产及经
营租入固定资产改良支出与装修支出是否存在可能发生减值的迹象。如果该等资产存在减值迹象，则估
计其可收回金额。使用寿命不确定的无形资产和尚未达到可使用状态的无形资产，无论是否存在减值迹
象，每年均进行减值测试。
估计资产的可收回金额以单项资产为基础，如果难以对单项资产的可收回金额进行估计的，则以该资产
所属的资产组为基础确定资产组的可收回金额。可收回金额为资产或者资产组的公允价值减去处置费用
后的净额与其预计未来现金流量的现值两者之中的较高者。
如果资产的可收回金额低于其账面价值，按其差额计提资产减值准备，并计入当期损益。
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(三) 重要会计政策和会计估计 - 续
17、长期资产减值 - 续
商誉至少在每年年度终了进行减值测试。对商誉进行减值测试时，结合与其相关的资产组或者资产组组
合进行。即，自购买日起将商誉的账面价值按照合理的方法分摊到能够从企业合并的协同效应中受益的
资产组或资产组组合，如包含分摊的商誉的资产组或资产组组合的可收回金额低于其账面价值的，确认
相应的减值损失。减值损失金额首先抵减分摊到该资产组或资产组组合的商誉的账面价值，再根据资产
组或资产组组合中除商誉以外的其他各项资产的账面价值所占比重，按比例抵减其他各项资产的账面价
值。
上述资产减值损失一经确认，在以后会计期间不予转回。
18、长期待摊费用
长期待摊费用为已经发生但应由本年和以后各期负担的分摊期限超过一年的各项费用。长期待摊费用在
预计受益期间中分期平均摊销。
19、职工薪酬
19.1 短期薪酬的会计处理方法
本集团在职工为其提供服务的会计期间，将实际发生的短期薪酬确认为负债，并计入当期损益或相关资
产成本。本集团发生的职工福利费，在实际发生时根据实际发生额计入当期损益或相关资产成本。职工
福利费为非货币性福利的，按照公允价值计量。
本集团为职工缴纳的医疗保险费、工伤保险费、生育保险费等社会保险费和住房公积金，以及本集团按
规定提取的工会经费和职工教育经费，在职工为本集团提供服务的会计期间，根据规定的计提基础和计
提比例计算确定相应的职工薪酬金额，确认相应负债，并计入当期损益或相关资产成本。
19.2 离职后福利的会计处理方法
离职后福利分类为设定提存计划和设定受益计划。
对于设定提存计划，本集团在职工为其提供服务的会计期间，将根据设定提存计划计算的应缴存金额确
认为负债，并计入当期损益或相关资产成本。
对于设定受益计划，本集团根据预期累计福利单位法确定的公式将设定受益计划产生的福利义务归属于
职工提供服务的期间，并计入当期损益或相关资产成本。设定受益计划产生的职工薪酬成本划分为下列
组成部分：
服务成本(包括当期服务成本、过去服务成本和结算利得和损失)；
设定受益计划净负债或净资产的利息净额(包括计划资产的利息收益、设定受益计划义务的利息费用
以及资产上限影响的利息)；以及
重新计量设定受益计划净负债或净资产所产生的变动。
服务成本及设定受益计划净负债或净资产的利息净额计入当期损益或相关资产成本。重新计量设定受益
计划净负债或净资产所产生的变动(包括精算利得或损失、计划资产回报扣除包括在设定受益计划净负债
或净资产的利息净额中的金额、资产上限影响的变动扣除包括在设定受益计划净负债或净资产的利息净
额中的金额)计入其他综合收益。
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财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
19、职工薪酬 - 续
19.3 辞退福利的会计处理方法
本集团向职工提供辞退福利的，在下列两者孰早日确认辞退福利产生的职工薪酬负债，并计入当期损益：
本集团不能单方面撤回因解除劳动关系计划或裁减建议所提供的辞退福利时；本集团确认与涉及支付辞
退福利的重组相关的成本或费用时。
19.4 其他长期职工福利的会计处理方法
本集团其他长期职工福利按照设定受益计划的有关规定，确认和计量其他长期职工福利净负债或净资产。
在报告期末，其他长期职工福利产生的职工薪酬成本确认为服务成本、其他长期职工福利净负债或净资
产的利息净额以及重新计量其他长期职工福利净负债或净资产所产生的变动三个组成部分。这些项目的
总净额计入当期损益或相关资产成本。
20、预计负债
当与或有事项相关的义务是本集团承担的现时义务，且履行该义务很可能导致经济利益流出，以及该义
务的金额能够可靠地计量，则确认为预计负债。
在资产负债表日，考虑与或有事项有关的风险、不确定性和货币时间价值等因素，按照履行相关现时义
务所需支出的最佳估计数对预计负债进行计量。如果货币时间价值影响重大，则以预计未来现金流出折
现后的金额确定最佳估计数。
21、收入
21.1 商品销售收入
在已将商品所有权上的主要风险和报酬转移给买方，既没有保留通常与所有权相联系的继续管理权，也
没有对已售商品实施有效控制，收入的金额能够可靠地计量，相关的经济利益很可能流入本集团，相关
的已发生或将发生的成本能够可靠地计量时，确认商品销售收入的实现。
21.2 提供劳务收入
本集团对外提供酒店客房服务的，在酒店客房服务已提供且取得收取服务费的权利时确认收入。
提供劳务同时授予客户奖励积分的业务，在提供劳务的同时，将销售取得的货款或应收货款在本次劳务
提供产生的收入与奖励积分的公允价值之间进行分配，将取得的现金或应收货款扣除奖励积分公允价值
的部分确认为收入、奖励积分的公允价值确认为递延收益。
客户兑换奖励积分时，本集团将原计入递延收益的与所兑换积分相关的部分确认为收入，确认为收入的
金额以被兑换用于换取奖励的积分数额占预期将兑换用于换取奖励的积分总数的比例为基础计算确定。
21.3 加盟费收入
根据有关合同或协议，按权责发生制确认收入。
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上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
21、收入 - 续
21.4 中央订房系统渠道收入
根据有关合同或协议，按权责发生制确认收入。
21.5 会员卡收入
会员卡收入按照权责发生制确认收入。
21.6 利息收入
按照他人使用本集团货币资金的时间和实际利率计算确定。
22、政府补助
政府补助是指本集团从政府无偿取得货币性资产和非货币性资产。政府补助根据相关政府文件中明确规
定的补助对象性质划分为与资产相关的政府补助和与收益相关的政府补助。
政府补助在能够满足政府补助所附条件且能够收到时予以确认。政府补助为货币性资产的，按照收到或
应收的金额计量。
22.1 与资产相关的政府补助判断依据及会计处理方法
本集团的政府补助主要包括信息平台扶持基金、新城饭店项目扶持基金和时尚之旅项目扶持基金，由于
补贴款分别用于相关资产的投资及研发，故该等政府补助为与资产相关的政府补助。
与资产相关的政府补助，确认为递延收益，并在相关资产的使用寿命内平均分配计入当期损益。
22.2 与收益相关的政府补助判断依据及会计处理方法
本集团的政府补助主要包括公司及锦江之星产业扶持基金、锦江之星门店动迁成本补助和锦江都城品牌
推广的财政补贴，该等政府补助为与收益相关的政府补助。
与收益相关的政府补助，用于补偿以后期间的相关费用和损失的，确认为递延收益，并在确认相关费用
的期间计入当期损益；用于补偿已经发生的相关费用和损失的，直接计入当期损益。
23、递延所得税资产/递延所得税负债
所得税费用包括当期所得税和递延所得税。
23.1 当期所得税
资产负债表日，对于当期和以前期间形成的当期所得税负债(或资产)，以按照税法规定计算的预期应交
纳(或返还)的所得税金额计量。
76
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
23、递延所得税资产/递延所得税负债 - 续
23.2 递延所得税资产及递延所得税负债
对于某些资产、负债项目的账面价值与其计税基础之间的差额，以及未作为资产和负债确认但按照税法
规定可以确定其计税基础的项目的账面价值与计税基础之间的差额产生的暂时性差异，采用资产负债表
债务法确认递延所得税资产及递延所得税负债。
一般情况下所有暂时性差异均确认相关的递延所得税。但对于可抵扣暂时性差异，本集团以很可能取得
用来抵扣可抵扣暂时性差异的应纳税所得额为限，确认相关的递延所得税资产。此外，与商誉的初始确
认相关的，以及与既不是企业合并、发生时也不影响会计利润和应纳税所得额(或可抵扣亏损)的交易中
产生的资产或负债的初始确认有关的暂时性差异，不予确认有关的递延所得税资产或负债。
对于能够结转以后年度的可抵扣亏损及税款抵减，以很可能获得用来抵扣可抵扣亏损和税款抵减的未来
应纳税所得额为限，确认相应的递延所得税资产。
本集团确认与子公司、联营企业及合营企业投资相关的应纳税暂时性差异产生的递延所得税负债，除非
本集团能够控制暂时性差异转回的时间，而且该暂时性差异在可预见的未来很可能不会转回。对于与子
公司、联营企业及合营企业投资相关的可抵扣暂时性差异，只有当暂时性差异在可预见的未来很可能转
回，且未来很可能获得用来抵扣可抵扣暂时性差异的应纳税所得额时，本集团才确认递延所得税资产。
资产负债表日，对于递延所得税资产和递延所得税负债，根据税法规定，按照预期收回相关资产或清偿
相关负债期间的适用税率计量。
除与直接计入其他综合收益或股东权益的交易和事项相关的当期所得税和递延所得税计入其他综合收益
或股东权益，以及企业合并产生的递延所得税调整商誉的账面价值外，其余当期所得税和递延所得税费
用或收益计入当期损益。
资产负债表日，对递延所得税资产的账面价值进行复核，如果未来很可能无法获得足够的应纳税所得额
用以抵扣递延所得税资产的利益，则减记递延所得税资产的账面价值。在很可能获得足够的应纳税所得
额时，减记的金额予以转回。
23.3 所得税的抵销
当拥有以净额结算的法定权利，且意图以净额结算或取得资产、清偿负债同时进行时，本集团当期所得
税资产及当期所得税负债以抵销后的净额列报。
当拥有以净额结算当期所得税资产及当期所得税负债的法定权利，且递延所得税资产及递延所得税负债
是与同一税收征管部门对同一纳税主体征收的所得税相关或者是对不同的纳税主体相关，但在未来每一
具有重要性的递延所得税资产及负债转回的期间内，涉及的纳税主体意图以净额结算当期所得税资产和
负债或是同时取得资产、清偿负债时，本集团递延所得税资产及递延所得税负债以抵销后的净额列报。
77
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
24、租赁
实质上转移了与资产所有权有关的全部风险和报酬的租赁为融资租赁。融资租赁以外的其他租赁为经营
租赁。
24.1 经营租赁的会计处理方法
24.1.1 本集团作为承租人记录经营租赁业务
经营租赁的租金支出在租赁期内的各个期间按直线法计入相关资产成本或当期损益。初始直接费用计入
当期损益。或有租金于实际发生时计入当期损益。
24.1.2 本集团作为出租人记录经营租赁业务
经营租赁的租金收入在租赁期内的各个期间按直线法确认为当期损益。对金额较大的初始直接费用于发
生时予以资本化，在整个租赁期间内按照与确认租金收入相同的基础分期计入当期损益；其他金额较小
的初始直接费用于发生时计入当期损益。或有租金于实际发生时计入当期损益。
24.2 融资租赁的会计处理方法
24.2.1 本集团作为承租人记录融资租赁业务
相关会计处理方法参见附注(三)“13.3 融资租入固定资产的认定依据、计价和折旧方法”。未确认融资费
用在租赁期内采用实际利率法计算确认当期的融资费用。或有租金于实际发生时计入当期损益。最低租
赁付款额扣除未确认融资费用后的余额分别作为长期负债和一年内到期的长期负债列示。
25、套期会计
为规避某些风险，本集团把某些金融工具作为套期工具进行套期。满足规定条件的套期，本集团采用套
期会计方法进行处理。本集团的套期主要为现金流量套期。
本集团在套期开始时，记录套期工具与被套期项目之间的关系，以及风险管理目标和进行不同套期交易
的策略。此外，在套期开始及之后，本集团会持续地对套期有效性进行评价，以检查有关套期在套期关
系被指定的会计期间内是否高度有效。
被指定为现金流量套期且符合条件的的衍生工具，其公允价值的变动属于有效套期的部分计入其他综合
收益，无效套期部分计入当期损益。
如果对预期交易的套期使本集团随后确认一项金融资产或金融负债的，原计入其他综合收益的金额将在
该项资产或债务影响损益的相同期间转出，计入当期损益；如果本集团预期原直接在其他综合收益中确
认的净损失全部或部分在未来会计期间不能弥补，则将不能弥补的部分转出，计入当期损益。
如果对预期交易的套期使本集团随后确认一项非金融资产或非金融负债，则将已计入其他综合收益的利
得或损失转出，计入该项非金融资产或非金融负债的初始成本中。如果预期原直接在其他综合收益中确
认的净损失全部或部分在未来会计期间不能弥补的，则将不能弥补的部分转出，计入当期损益。
78
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
25、套期会计 - 续
除上述情况外，原计入其他综合收益的金额在被套期预期交易影响损益的相同期间转出，计入当期损益。
当本集团撤销了对套期关系的指定、套期工具已到期或被出售、合同终止、已行使或不再符合套期会计
条件时，终止运用套期会计。套期会计终止时，已计入其他综合收益的累计利得或损失，将在预期交易
发生并计入损益时，自其他综合收益转出计入损益。如果预期交易不会发生，则将计入其他综合收益的
累计利得或损失立即转出，计入当期损益。
26、重要会计政策和会计估计变更
26.1 会计政策变更
本集团在本财务报表中已经采用财政部于 2017 年新颁布的经修订的《企业会计准则第 16 号—政府补助》。
执行《企业会计准则第 16 号-政府补助》(修订)之前，本集团计入当期损益的政府补助在营业外收入列报。
执行《企业会计准则第 16 号-政府补助》(修订)之后，本集团区分政府补助与企业日常活动是否相关，进
行不同的会计处理，对于与企业日常活动相关的政府补助，按照经济业务实质，计入其他收益或冲减相
关成本费用；对于与企业日常活动无关的政府补助，计入营业外收支。本财务报表已按相关规定采用未
来适用法进行会计处理。
27、重要会计估计和判断
本集团根据历史经验和其他因素，包括对未来事项的合理预期，对所采用的重要会计估计和关键判断进
行持续的评价。
重要会计估计及其关键假设
下列重要会计估计及关键假设存在会导致下一会计期间资产和负债的账面价值出现重大调整的重要风险：
27.1 固定资产的预计使用寿命与预计净残值
本集团管理层负责评估确认固定资产的预计使用寿命与预计净残值。这项估计是将性质和功能类似的固
定资产过往的实际使用寿命与实际净残值作为基础。在固定资产使用过程中，其所处的经济环境，技术
环境以及其他环境有可能对固定资产使用寿命与预计净残值产生较大影响。如果固定资产使用寿命与净
残值的预计数与原先估计数有差异，本集团管理层将对其进行调整。
27.2 经营租入物业改良支出与装修支出的预计受益期间
本集团以租赁物业经营若干酒店，并对这些酒店进行物业改良与装修。本集团管理层根据过往经验和可
取得的信息，将经营租入物业改良支出及装修支出根据实际使用寿命、剩余经营期与剩余租赁期三者孰
短进行摊销。如果经营租入物业改良支出与装修支出的上述预计受益期间与原先估计数有差异，本集团
管理层将对其进行调整。
79
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
27、重要会计估计和判断 - 续
27.3 土地和商标及品牌的使用寿命
本集团管理层认为，在可预见的将来本集团所拥有的土地和商标及品牌均会使用并带给本集团预期的经
济利益流入，故其使用寿命是不确定的，对土地不予折旧，对商标及品牌不予摊销。但无论上述使用寿
命不确定的土地和商标及品牌是否存在减值迹象，本集团管理层每年均对其进行减值测试。
27.4 递延所得税资产和递延所得税负债
递延所得税资产和递延所得税负债按照预期收回该资产或清偿该债务期间的适用所得税税率计量。预期
适用所得税税率是根据有关现行的税务法规及本集团的实际情况而确定。若预计所得税税率与原估计有
差异，本集团管理层将对其进行调整。
递延所得税资产的确定，以很可能取得用来抵扣税务亏损及暂时性差异的应纳税所得额为限。如果预计
未来期间无法取得足够的应纳税所得额用以利用可抵扣税务亏损及可抵扣暂时性差异带来的经济利益，
本集团管理层将减记递延所得税资产的账面价值。
由于无法确定相关可抵扣税务亏损和可抵扣暂时性差异是否很可能转回，故本集团对于部分可抵扣税务
亏损及可抵扣暂时性差异未确认为递延所得税资产。如未来实际产生的盈利多于预期，将视情况调整相
应的递延所得税资产，确认在该情况发生期间的合并利润表中。
27.5 长期股权投资、固定资产、在建工程、使用寿命确定的无形资产及经营租入固定资产改良支出与装
修支出的减值
本集团管理层根据附注(三)17 所述的会计政策，于资产负债表日评估长期股权投资、固定资产、在建工
程、使用寿命确定的无形资产及经营租入固定资产改良支出与装修支出是否出现任何减值。可收回金额
为资产预计未来现金流量的现值与公允价值减去处置费用后的净额两者中较高者，是按可以取得的最佳
信息作出估计，以反映知情自愿各方于各资产负债表日进行公平交易以处置资产而获取的款项(经扣减处
置成本)或持续使用该资产所产生的现金。该估计于每次减值测试时都可能予以调整。
27.6 应收款项减值
本集团管理层及时判断应收款项的可收回程度，以此来估计应收款项减值准备。如发生任何事件或情况
变动，显示本集团未必可追回有关余额，则会为应收款项计提准备，并需要使用估计。若预期数字与原
来估计数不同，有关差额则会影响应收款项的账面价值，以及在估计变动期间的减值费用。
27.7 商誉减值
本集团每年对商誉进行减值测试。为进行减值测试，本集团将商誉分摊至相关资产组或资产组组合。包
含商誉的资产组或资产组组合的可收回金额按照资产组或资产组组合预计未来现金流量的现值与公允价
值减去处置费用后的净额中较高者确定，其计算需要采用会计估计。
本集团计算可收回金额时，采用的关键假设及估计详见附注(五)14。若实际情况与估计不同，将影响资
产组或资产组组合可收回金额，从而影响商誉的减值金额。
80
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
27、重要会计估计和判断 - 续
27.8 长期应付职工薪酬
对于本集团职工退休福利计划等设定受益计划，于各年度末，管理层聘请专家进行精算。精算涉及折现
率、长期通货膨胀率、工资增长率及死亡率等主要估计，若未来现金流量的实际情况与估计数不同，有
关差额则会影响长期应付职工薪酬的账面价值。
(四) 税项
主要税种及税率
税种 计税依据 税率及简易征收率
本公司及中国大陆境内子公司：
增值税 销项税额减可抵扣进项税后余额 5%或 6%或 11%或 17%
城市维护建设税 流转税额 5%或 7%
教育费附加 流转税额 3%
地方教育费附加 流转税额 2%
企业所得税 应纳税所得额 9%或 15%或 25%(注 1)
房产税 房产计税原值、租金收入 1.2%或 12%
中国大陆境外子公司：
增值税 营业收入 20%或 19.6%或 10%
企业互助社会捐金 营业收入 0.16%
住房税 员工应税工资 0.45%
学徒税 员工应税工资 0.68%
继续教育税 员工应税工资 0.15%或 1.05%或 1.60%
企业所得税 应纳税所得额 注2
企业增值税(CVAE) 法国税法下企业价值增加金额 0% - 1.5%
注 1：根据西藏自治区人民政府关于调整企业所得税税率的通知(藏政发[2011]14 号)，以及国家对西部大
开发税收优惠政策，对设在西藏自治区的各类企业，在 2011 年至 2020 年期间按 15%的税率征收
企业所得税。根据西藏自治区人民政府关于印发西藏自治区企业所得税政策实施办法的通知 (藏政
发[2014]51 号)，在 2015 年至 2017 年期间暂免征收西藏自治区企业应缴纳的企业所得税中属于地
方分享的部分。因此，2017 年度拉萨锦江之星旅馆有限公司所得税税率为 9%。
广州赛文软件开发有限公司于 2014 年度被认定为高新技术企业，自 2015 年起的三年内执行 15%
的企业所得税税率。
本公司及其他境内子公司企业所得税税率为 25%。
注 2：中国大陆境外子公司 GDL 企业所得税基准税率为 33.33%，如果营业收入超过 7,630,000.00 欧元，
企业所得税税率上浮到 34.43%。根据法国相关财政法令，自 2019 年度开始，GDL 所适用的企业
所得税税率将从 34.43%变更为 28.92%。
本集团在开曼群岛注册成立的子公司不需缴纳企业所得税；注册于香港特别行政区的子公司的所
得税税率为 16.5%；注册于德国的子公司的所得税税率为 15%；注册于新加坡的子公司的所得税税
率为 17%；注册于奥地利的子公司的所得税税率为 25%；注册于卢森堡的子公司的所得税税率为
29.22%；注册于印度的子公司的所得税税率为 33.90%.
81
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释
1、货币资金
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目
外币金额 折算率 人民币金额 外币金额 折算率 人民币金额
现金：
人民币 13,132,461.29 16,406,368.21
银行存款(注 1)：
人民币 6,254,008,670.47 5,397,122,804.31
美元 101,319,871.13 6.7748 686,417,270.20 106,806,792.54 6.9370 740,918,742.51
欧元 69,999,275.80 7.7496 542,466,388.22 114,299,162.87 7.3068 835,161,123.26
英镑 2,137,710.45 8.8164 18,846,872.49 1,481,838.25 8.5360 12,648,943.60
雷亚尔 1,507,000.00 2.0611 3,106,023.19 2,481,000.00 2.1296 5,283,640.57
兹罗提 41,872,291.38 1.8338 76,785,023.50 36,993,381.63 1.6569 61,293,251.90
摩洛哥迪拉姆 106,000.00 0.7037 74,589.81 94,000.00 0.6845 64,340.91
印尼卢比 1,401,844,253.46 0.0005 713,415.61 95,789,000.00 0.0005 49,381.91
港币 4,440,299.73 0.8818 3,915,674.80 3,887,002.92 0.8945 3,476,924.09
韩元 - - - 58,743,000.00 0.0058 338,141.55
印度卢比 89,408,626.00 0.1051 9,395,634.80 - - -
其他金融机构存款(注 2)：
人民币 943,789,925.11 716,477,176.50
合计 8,552,651,949.49 7,789,240,839.32
注 1：本集团上述银行存款中用于借款质押的定期存款为人民币 3,306,492,000.00 元(期初数﹕人民币
1,417,068,000.00 元)。质押借款信息参见附注(五)28。
本集团上述银行存款中由于诉讼被冻结的银行存款为人民币 3,642,515.06 元(期初数﹕人民币
14,080,776.39 元)，详见附注(五)31。
本集团上述银行存款中人民币 3,477,708.89 元用于对特定品牌进行推广，其实际使用需经过该特定
品牌使用权授予方的许可。
注 2：其他金融机构存款系存于锦江国际集团财务有限责任公司(经批准的非银行金融机构，以下简称“财
务公司”)的款项。
2、应收账款
(1) 应收账款分类披露：
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类 计提 计提
比例 账面价值 比例 账面价值
金额 金额 比例 金额 金额 比例
(%) (%)
(%) (%)
单项金额重大并单项计提
- - - - - - - - - -
坏账准备的应收账款
按信用风险特征组合计提
998,606,708.13 97.93 127,172,274.02 12.73 871,434,434.11 743,108,862.65 97.84 125,871,731.28 16.94 617,237,131.37
坏账准备的应收账款
单项金额不重大但单独计
21,091,355.22 2.07 12,476.70 0.06 21,078,878.52 16,394,093.01 2.16 12,476.70 0.08 16,381,616.31
提坏账准备的应收账款
合计 1,019,698,063.35 100.00 127,184,750.72 12.47 892,513,312.63 759,502,955.66 100.00 125,884,207.98 16.57 633,618,747.68
(2) 按账龄分析法计提坏账准备的应收账款：
人民币元
2017 年 6 月 30 日
账龄
金额 坏账准备 计提比例(%)
3 个月以内 706,717,852.36 - -
3 至 12 个月 160,984,154.55 33,587,366.89 20.86
12 个月以上 130,904,701.22 93,584,907.13 71.49
合计 998,606,708.13 127,172,274.02 12.73
82
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
2、应收账款 - 续
(3) 本期计提、收回或转回的坏账准备情况
人民币元
2016 年 本期外币报表 2017 年
项目 本期计提额 本期转回额 本年转销额
12 月 31 日 折算差额 6 月 30 日
坏账准备 125,884,207.98 13,317,045.15 (15,960,482.17) (658,852.22) 4,602,831.98 127,184,750.72
(4) 按欠款方归集的期末余额前五名的应收账款情况
占应收账款总额 计提坏账
单位名称 与本集团关系 金额
的比例(%) 准备金额
北京三快科技有限公司 第三方 24,484,712.04 2.40 282,551.81
上海锦江国际电子商务有限公司 关联方 17,966,751.90 1.76 1,923,527.16
上海德必投资管理有限公司 第三方 17,441,489.44 1.71 -
北京酷讯科技有限公司 第三方 11,057,912.40 1.08 -
GOLDEN TULIP MENA 关联方 9,206,524.80 0.90 3,452,446.80
合计 80,157,390.58 7.85 5,658,525.77
3、预付款项
(1) 预付款项按账龄列示：
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
账龄
金额 比例(%) 金额 比例(%)
1 年以内 264,074,163.69 100.00 309,862,334.50 100.00
合计 264,074,163.69 100.00 309,862,334.50 100.00
(2) 按预付对象归集的期末余额前五名的预付款项情况
人民币元
单位名称 与本集团关系 期末余额 未结算原因
广州宸鑫投资咨询有限公司 第三方 5,640,224.63 预付房租
沈阳裕宁房产开发有限公司 第三方 5,257,263.14 预付房租
上海机场(集团)有限公司 第三方 4,084,663.07 预付房租
ILIKI LIMITED 第三方 3,289,233.70 工程货款
北京市塑料研究所 第三方 2,544,999.97 预付房租
合计 20,816,384.51
4、应收利息
人民币元
单位名称 2017 年 6 月 30 日 2016 年 12 月 31 日
银行定期存款 338,453,499.54 131,539,258.23
财务公司定期存款 12,580,322.54 10,227,865.86
委托贷款 63,295.10 666,007.65
合计 351,097,117.18 142,433,131.74
83
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
5、应收股利
人民币元
相关款项
2016 年 外币报表 2017 年
项目 本期增加 本期减少 未收回的原因 是否发生
12 月 31 日 折算差额 6 月 30 日
减值
账龄一年以内的应收股利
(1)长江证券股份有限公司 - 7,950,000.00 (7,950,000.00) - - 不适用
(2)杭州肯德基有限公司 14,579,808.60 38,964,078.50 (22,372,203.48) - 31,171,683.62 尚未发放完毕 否
(3)苏州肯德基有限公司 - 15,461,142.53 (9,600,000.00) - 5,861,142.53 尚未发放完毕 否
(4)无锡肯德基有限公司 - 7,125,239.26 (4,000,000.00) - 3,125,239.26 尚未发放完毕 否
(5)上海肯德基有限公司 - 87,297,483.35 (87,297,483.35) - - 不适用
(6)上海新亚富丽华餐饮
- 4,592,000.00 (4,592,000.00) - - 不适用
股份有限公司
(7)GDL 之股权投资 549,887.85 479,044.37 (478,664.17) 33,338.83 583,606.88 尚未发放完毕 否
(8)其他 - 1,594,902.32 (1,594,902.32) - - 不适用
合计 15,129,696.45 163,463,890.33 (137,885,253.32) 33,338.83 40,741,672.29
6、其他应收款
(1) 其他应收款分类披露
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类 计提 计提
比例 账面价值 比例 账面价值
金额 金额 比例 金额 金额 比例
(%) (%)
(%) (%)
单项金额重大并单项计提
28,311,764.18 5.13 5,775,000.00 20.40 22,536,764.18 45,088,984.18 8.87 5,775,000.00 12.81 39,313,984.18
坏账准备的其他应收款
按信用风险特征组合计提
- - - - - - - - - -
坏账准备的其他应收款
单项金额不重大但单独计
523,258,894.35 94.87 50,819,430.31 9.71 472,439,464.04 463,212,255.80 91.13 49,244,919.21 10.63 413,967,336.59
提坏账准备的其他应收款
合计 551,570,658.53 100.00 56,594,430.31 10.26 494,976,228.22 508,301,239.98 100.00 55,019,919.21 10.82 453,281,320.77
期末单项金额重大并单独计提坏账准备的其他应收款：
人民币元
单位名称 期末余额
账面余额 坏账准备 计提比例(%) 计提理由
深圳市英迈奇机电设备有限公司(注) 5,775,000.00 5,775,000.00 100.00 预计无法收回
合计 5,775,000.00 5,775,000.00
注： 深圳市英迈奇机电设备有限公司系 Keystone 的设备供应商，由于其提供的设备没有达到使用预期，
Keystone 要求其退回相关款项。Keystone 根据该应收款项的可回收性已经全额计提了坏账准备。
(2) 本期计提、收回或转回的坏账准备情况
人民币元
2016 年 本期外币报表 2017 年
项目 本期计提额 本期转回额 本期转销额
12 月 31 日 折算差额 6 月 30 日
坏账准备 55,019,919.21 2,016,306.24 (1,770,027.20) (429,435.17) 1,757,667.23 56,594,430.31
84
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
6、其他应收款 - 续
(3) 按款项性质列示其他应收款
人民币元
其他应收款性质 2017 年 6 月 30 日 2016 年 12 月 31 日
押金及保证金 249,495,371.03 250,676,446.21
业务周转金 9,253,564.17 10,705,805.71
应收子公司处置款(附注六(2)) 7,362,197.50 -
应收可供出售金融资产处置款(注) 15,644,582.50 -
代垫款及其他 269,814,943.33 246,918,988.06
合计 551,570,658.53 508,301,239.98
注： 本财务报表期间内，本集团下属子公司 GDL 处置持有的 Lyon Part-Dieu 股权，约定交易对价折
合人民币 15,644,582.50 元，产生投资收益折合人民币 14,924,678.18 元，截至本财务报告期末，
交易价款尚未收回。
(4) 按欠款方归集的期末余额前五名的其他应收款情况
人民币元
占其他应收
与本公司 坏账准备
单位名称 性质 期末余额 账龄 款总额的
关系 期末余额
比例(%)
杭州钱江新城资产经营管理投资
保证金 第三方 15,516,524.00 1至2年 2.81 -
有限公司(注)
广州市百达屋信息科技有限公司 代垫款 第三方 7,020,240.18 1至2年 1.27 -
深圳市英迈奇机电设备有限公司 代垫款 第三方 5,775,000.00 1至2年 1.05 5,775,000.00
陕西茂源实业集团有限公司 赔偿款 关联方 4,652,152.44 5 年以上 0.84 2,640,000.00
刘运伍 代垫款 第三方 4,423,940.22 1 年以内 0.80 -
合计 37,387,856.84 6.77 8,415,000.00
注： 系子公司上海锦江国际旅馆投资有限公司(“旅馆投资”)下属子公司杭州锦澈投资管理有限公司向
杭州钱江新城资产经营管理投资有限公司根据租赁合同支付的履约保证金以及装修保证金。
7、存货
(1) 存货分类
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目
账面余额 跌价准备 账面价值 账面余额 跌价准备 账面价值
原材料 31,723,178.08 139,938.64 31,583,239.44 39,085,659.17 - 39,085,659.17
产成品 480,200.46 - 480,200.46 601,105.11 - 601,105.11
库存商品 41,982,348.60 2,953,611.91 39,028,736.69 40,222,540.60 2,746,711.33 37,475,829.27
合计 74,185,727.14 3,093,550.55 71,092,176.59 79,909,304.88 2,746,711.33 77,162,593.55
(2) 存货跌价准备
人民币元
2016 年 外币报表 2017 年
存货种类 本期计提额 本期转销额
12 月 31 日 折算差额 6 月 30 日
原材料 - 139,938.64 - - 139,938.64
库存商品 2,746,711.33 162,472.82 (79,073.28) 123,501.04 2,953,611.91
合计 2,746,711.33 302,411.46 (79,073.28) 123,501.04 3,093,550.55
85
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
8、其他流动资产
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
预缴税金 222,774,666.92 198,924,428.61
待摊费用 35,238,847.50 29,840,996.99
委托贷款(注) 16,476,100.72 28,322,363.79
其他 1,048,434.99 377,011.79
合计 275,538,050.13 257,464,801.18
注：系本集团下属子公司 Keystone 对加盟店发放的委托贷款，年利率为 10%至 12%。
9、可供出售金融资产
(1)可供出售金融资产情况
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目
账面余额 减值准备 账面价值 账面余额 减值准备 账面价值
可供出售权益工具
-公允价值计量 1,136,852,267.61 - 1,136,852,267.61 1,288,934,427.52 - 1,288,934,427.52
-按成本计量 38,271,369.78 4,007,788.32 34,263,581.46 38,078,355.51 3,793,074.19 34,285,281.32
合计 1,175,123,637.39 4,007,788.32 1,171,115,849.07 1,327,012,783.03 3,793,074.19 1,323,219,708.84
(2)期末按公允价值计量的可供出售金融资产
人民币元
可供出售金融资产分类 可供出售权益工具
权益工具的成本 472,411,485.54
公允价值 1,136,852,267.61
累计计入其他综合收益的公允价值变动金额 664,440,782.07
人民币元
被投资 2016 年 本期 2017 年
股票代码 本期增减变动 期末股数
公司名称 12 月 31 日 公允价值变动 6 月 30 日
长江证券 000783 644,489,999.99 (129,455,205.85) (13,124,794.15) 501,909,999.99 53,000,000
交通银行 601328 5,849,458.67 395,370.69 - 6,244,829.36 1,013,771
全聚德 002186 2,103,376.00 (167,314.00) - 1,936,062.00 95,608
申万宏源 000166 93,559,775.00 (9,730,216.60) - 83,829,558.40 14,969,564
Ocean BT L.P.(注) 542,931,817.86 - - 542,931,817.86 不适用
合计 1,288,934,427.52 (138,957,365.76) (13,124,794.15) 1,136,852,267.61
注： 本财务报告期间内，本集团之子公司 Keystone 将原通过 Ocean Imagination L.P.持有的 eLong Inc.
(“艺龙”)股权转至 Ocean Imagination L.P. 普通合伙人 Ocean Voyage L.P.新设的合伙企业 Ocean
BT L.P.。Keystone 成为 Ocean BT L.P.的有限合伙人，并通过 Ocean BT L.P.持有原艺龙的股权。
本集团将对 Ocean BT L.P.的股权投资确认为可供出售金融资产。该项可供出售金融资产公允价
值的确认参见附注(九)4。
86
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
9、可供出售金融资产 - 续
(3)期末按成本计量的可供出售金融资产
人民币元
账面余额 减值准备
在被投资单位
被投资单位 初始投资 2016 年 外币报表 2017 年 2016 年 外币报表 2017 年 本期现金
企业合并增加 本期增加 本期减少 本期增加 持股比例(%)
成本 12 月 31 日 折算差额 6 月 30 日 12 月 31 日 折算差额 6 月 30 日 红利
杭州肯德基有限公司 12,265,725.33 12,265,725.33 - - - - 12,265,725.33 - - - - 8 38,964,078.50
苏州肯德基有限公司 5,484,594.24 5,484,594.24 - - - - 5,484,594.24 - - - - 8 15,461,142.53
无锡肯德基有限公司 3,761,343.20 3,761,343.20 - - - - 3,761,343.20 - - - - 8 7,125,239.26
长江联合发展公司 700,000.00 700,000.00 - - - - 700,000.00 - - - - <1 -
上海商务中心股份有限公司 5,187,700.00 5,187,700.00 - - - - 5,187,700.00 - - - - 3 75,000.00
上海锦江酒店物品有限公司 1,469,473.95 1,469,473.95 - - - - 1,469,473.95 - - - - 15 -
广州含燕甜品有限公司 100,000.00 100,000.00 - - - - 100,000.00 - - - - 4.95 -
广州宛若故里信息科技有限公司 4,000,000.00 4,000,000.00 - - - - 4,000,000.00 - - - - 10 -
广州慢镜头信息科技有限公司 50,000.00 50,000.00 - - - - 50,000.00 50,000.00 - - 50,000.00 4 -
广州影梦信息科技有限公司 200,000.00 200,000.00 - - - - 200,000.00 200,000.00 - - 200,000.00 5 -
GDL 之可供出售金融资产 4,685,433.69 4,859,518.79 - 127,597.02 (225,218.57) 290,635.82 5,052,533.06 3,543,074.19 - 214,714.13 3,757,788.32 - 383,316.87
合计 37,904,270.41 38,078,355.51 - 127,597.02 (225,218.57) 290,635.82 38,271,369.78 3,793,074.19 - 214,714.13 4,007,788.32 - 62,008,777.16
87
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
10、长期股权投资
人民币元
本期增减变动
2016 年 2017 年 减值准备
被投资单位 权益法下确认 其他综合 其他 宣告发放现金 计提 外币报表
12 月 31 日 本期新增 其他变动 6 月 30 日 期末余额
的投资收益 收益调整 权益变动 股利或利润 减值准备 折算差额
联营企业
上海肯德基有限公司(“上海肯德基”) 187,254,691.69 - - 56,616,425.56 - - (87,297,483.35) - - 156,573,633.90 -
上海新鹿餐饮发展有限公司(“新鹿餐饮”) 2,131,503.88 - - 133,721.14 - - - - - 2,265,225.02 -
上海新亚富丽华餐饮股份有限公司
30,203,975.52 - - 3,699,099.74 - - (4,592,000.00) - - 29,311,075.26 -
(“新亚富丽华”)
上海齐程网络科技有限公司(“齐程网络”)(注 1) - 100,000,000.00 - (8,296,229.33) - (34,601,168.38) - - - 57,102,602.29 -
上海吉野家快餐有限公司(“上海吉野家”) 2,114,812.71 - - 9,393.06 - - - - - 2,124,205.77 -
上海新锦酒店管理有限公司(“新锦酒店管理”) 2,083,796.37 - - 403,535.29 - - - - - 2,487,331.66 -
SNC Invest Hotels Dix 90 8,602,525.66 - - (216,716.32) - - - - 512,761.39 8,898,570.73 -
SNC Rouen Annecy 6,694,905.17 - - 2,572.81 - - - - 405,882.93 7,103,360.91 -
SNC Lisieux 8,458,760.77 - - 684,221.45 - - - - 539,638.98 9,682,621.20 -
SNC Angers Montpellier Villeneuve
5,699,372.92 - - 345,972.58 - - - - 358,902.89 6,404,248.39 -
Rennes Invest Hotels
SNC Chaville Bx Arles 5,400,729.48 - - 110,385.91 - - - - 331,650.65 5,842,766.04 -
SNC Bayeux Bergerac Blagnac 4,194,785.66 - - 73,418.97 - - - - 257,108.83 4,525,313.46 -
SNC Fontenay Dieppe 3,722,988.69 - - 18.05 - - - - 225,617.87 3,948,624.61 -
Saclay Invest Hotel 3,656,306.41 - - 2,050.64 - - - - 221,656.40 3,880,013.45 -
广州铭岩信息科技有限公司 2,330,820.98 - - (29,742.04) - - - - - 2,301,078.94 -
广州蛋壳网络科技有限公司 6,942,022.00 - - 457,198.19 - - - - - 7,399,220.19 -
深圳市第五空间公寓酒店管理有限公司 2,256,534.43 - - (272,214.35) - - - - - 1,984,320.08 -
广州辐伦淄信息科技有限公司 2,662,935.95 - - (61,341.89) - - - - - 2,601,594.06 -
广州创变者出入境服务有限公司 1,510,396.54 - - (78,641.80) - - - - - 1,431,754.74 -
广州虫洞网络科技有限公司 4,232,281.40 - - (473,847.65) - - - - - 3,758,433.75 -
广州沁游商务服务有限公司 2,004,694.16 - - (274,817.01) - - - - - 1,729,877.15 -
广州小胖信息科技有限公司 479,467.67 - - (2,575.89) - - - - - 476,891.78 -
广州木西美互联网服务有限公司 1,799,674.12 - - (132,928.76) - - - - - 1,666,745.36 -
广州涯际酒店管理有限公司 1,000,000.00 - (8,185.69) - - - - - 991,814.31 -
广州遇乐网络有限公司 - 1,000,000.00 - (91,956.96) - - - - - 908,043.04 -
深圳市趣喔公寓管理有限公司
30,000.00 - (30,000.00) - - - - - - - -
(“深圳趣喔”)(注 2)
广州窝趣公寓管理有限公司
- - 23,121,951.22 - - - - - - 23,121,951.22 -
(“广州窝趣”)(附注(六)2)
其他 36,841,451.61 - - 812,588.86 186,422.60 - (95,727.50) - 2,282,582.25 40,027,317.82 -
合计 332,309,433.79 101,000,000.00 23,091,951.22 53,411,404.56 186,422.60 (34,601,168.38) (91,985,210.85) - 5,135,802.19 388,548,635.13 -
88
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
10、长期股权投资 - 续
注 1： 于 2017 年 2 月 16 日，本公司与上海锦江资本管理有限公司、锦江酒店集团、上海联银创业投资
有限公司、西藏弘毅夹层投资管理中心(有限合伙)及上海国盛集团投资有限公司共同出资设立齐
程网络，其中本公司出资人民币 100,000,000.00 元并持有其 10%股权。根据股东协议及公司章程，
本公司能够对齐程网络施加重大影响，因此将其作为联营企业。齐程网络的最终控制方是锦江国
际。于 2017 年 4 月，齐程网络分别向锦江国际收购下属子公司上海锦江国际电子商务有限公司
及汇通百达网络科技(上海)有限公司 100%股权，该同一控制下企业合并使得本公司对齐程网络
的长期股权投资减少人民币 34,601,168.38 元，本公司的资本公积也相应减少。
注 2： 深圳趣喔系广州窝趣之联营企业。本财务报告期间内，本集团下属子公司 Keystone 对广州窝趣
丧失控制权(详见附注(六)2) ，因此本集团对深圳趣喔的股权投资也不再纳入合并范围。
11、固定资产
(1) 固定资产情况
人民币元
项目 中国大陆境外土地 房屋及建筑物 机器设备 运输工具 固定资产装修支出 合计
一、账面原值
1.2016 年 12 月 31 日 1,240,264,568.94 8,110,238,345.81 3,090,966,299.95 22,553,410.45 517,362,429.00 12,981,385,054.15
2.本期增加金额
(1)购置 46,862.46 14,078,869.52 41,648,321.51 45,878.04 7,650,570.93 63,470,502.46
(2)在建工程转入 34,859.75 22,281,950.64 43,007,483.94 - 16,227,927.86 81,552,222.19
(3)收购子公司增加(附注
7,782,063.77 41,207,962.67 23,143,705.04 - 21,394,245.05 93,527,976.53
六(1))
(4)外币报表折算差额 77,926,246.20 352,739,212.27 64,822,567.22 - 13,199,205.10 508,687,230.79
3.本期减少
(1)本期处置或报废 - - (28,435,788.66) (4,617.00) (571,659.60) (29,012,065.26)
(2)处置子公司减少 (687,006.77) (18,755,909.61) (4,177,425.02) - (358,486.98) (23,978,828.38)
(3)竣工结算调整 - (1,583.79) (2,550,946.28) - (342,993.72) (2,895,523.79)
4.2017 年 6 月 30 日 1,325,367,594.35 8,521,788,847.51 3,228,424,217.70 22,594,671.49 574,561,237.64 13,672,736,568.69
二、累计折旧
1.2016 年 12 月 31 日 57,779,708.11 3,742,696,776.10 2,021,688,524.91 13,146,387.41 337,855,138.81 6,173,166,535.34
2.本期增加金额
(1)计提 755,545.76 177,040,782.86 146,479,125.40 1,406,941.60 39,255,250.09 364,937,645.71
(2)收购子公司增加(附注
- 6,134,599.08 16,484,443.07 - 10,090,046.87 32,709,089.02
六(1))
(3)外币报表折算差额 3,790,840.38 208,426,127.62 50,591,781.16 - 6,493,487.79 269,302,236.95
3.本期减少
(1)本期处置或报废 - - (23,472,012.19) (3,631.59) (162,322.73) (23,637,966.51)
(2)处置子公司减少 (269,551.96) (18,697,120.55) (2,969,095.36) - (353,501.98) (22,289,269.85)
4.2017 年 6 月 30 日 62,056,542.29 4,115,601,165.11 2,208,802,766.99 14,549,697.42 393,178,098.85 6,794,188,270.66
三、减值准备
1.2016 年 12 月 31 日 - - 104,404.20 - - 104,404.20
2.本期增加金额 - - 4,544,950.79 - - 4,544,950.79
3.本期处置或报废 - - - - - -
4.2017 年 6 月 30 日 - - 4,649,354.99 - - 4,649,354.99
四、账面价值
1.2017 年 6 月 30 日 1,263,311,052.06 4,406,187,682.40 1,014,972,095.72 8,044,974.07 181,383,138.79 6,873,898,943.04
2.2016 年 12 月 31 日 1,182,484,860.83 4,367,541,569.71 1,069,173,370.84 9,407,023.04 179,507,290.19 6,808,114,114.61
(2) 通过融资租赁租入的固定资产情况
人民币元
项目 账面原值 累计折旧 账面价值
中国大陆境外土地 120,335,788.80 69,746.40 120,266,042.40
房屋建筑物 788,601,620.88 657,855,203.42 130,746,417.46
机器设备 14,461,825.11 10,178,639.79 4,283,185.32
合计 923,399,234.79 668,103,589.61 255,295,645.18
89
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
11、固定资产 - 续
(3) 未办妥产权证书的固定资产情况
本财务报告期末，子公司时尚之旅酒店管理有限公司(“时尚之旅”)的净值为人民币 161,237,057.46 元的房
屋建筑物产权证明尚在办理中。
(4) 固定资产抵押情况
本财务报告期末，本集团下属子公司净值为人民币 178,794,604.83 元的房屋建筑物用于长期借款抵押，
详见附注五(28)注 2。
12、在建工程
(1) 在建工程情况
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目
账面余额 减值准备 账面净值 账面余额 减值准备 账面净值
一、固定资产装修
旅馆投资在建工程
“康铂”上海自然博物馆酒店装修工程 29,229,698.27 - 29,229,698.27 19,188,898.21 - 19,188,898.21
“锦江之星”上海九亭沪松公路店装修工程 23,194,939.88 - 23,194,939.88 21,574,939.88 - 21,574,939.88
“金广”临汾解放路酒店装修工程 21,840,838.92 - 21,840,838.92 23,002,358.35 - 23,002,358.35
“锦江之星”天津台儿庄路店装修工程 21,132,856.11 - 21,132,856.11 19,618,358.07 - 19,618,358.07
“锦江之星”苏州市工业园区通园路店装修工程 15,250,951.98 - 15,250,951.98 1,442,664.65 - 1,442,664.65
“康铂”南京江宁将军大道店装修工程 11,446,143.58 - 11,446,143.58 - - -
“康铂”上海静安寺酒店装修工程 5,050,539.33 - 5,050,539.33 - - -
“锦江都城”沈阳三好街酒店装修工程 111,374.37 - 111,374.37 39,107,212.60 - 39,107,212.60
“锦江之星”佛山南海桂城地铁站店装修工程 - - - 26,669,174.34 - 26,669,174.34
“锦江之星”上海真南路酒店工程 - - - 19,132,069.39 - 19,132,069.39
“锦江之星”银川清和南街店装修工程 1,087.00 - 1,087.00 18,418,158.77 - 18,418,158.77
“锦江之星”克拉玛依市行政中心店装修工程 - - - 16,555,746.57 - 16,555,746.57
“锦江之星”杭州滨江江陵路店装修工程 - - - 15,728,695.97 - 15,728,695.97
“锦江之星”敦煌市妙街店装修工程 - - - 14,172,478.65 - 14,172,478.65
旅馆投资其他装修工程 1,010,693.71 - 1,010,693.71 1,733,257.39 - 1,733,257.39
小计 128,269,123.15 - 128,269,123.15 236,344,012.84 - 236,344,012.84
GDL 在建工程
Louvre Htels Group 酒店装修工程 56,711,596.05 - 56,711,596.05 57,136,779.37 - 57,136,779.37
Htels du pont de Suresnes 酒店装修工程 12,892,040.36 - 12,892,040.36 7,236,432.89 - 7,236,432.89
Bleu Aix en Provence Galice 酒店装修工程 10,330,537.79 - 10,330,537.79 2,246,746.38 - 2,246,746.38
Htel Grill Bordeaux Artigues 酒店装修工程 3,627,110.00 - 3,627,110.00 2,497,139.96 - 2,497,139.96
Htel Grill Compiegne 酒店装修工程 2,768,809.02 - 2,768,809.02 4,554,832.32 - 4,554,832.32
Htel Grill de Chelles 酒店装修工程 2,754,189.63 - 2,754,189.63 4,419,551.96 - 4,419,551.96
Htel Gril Aix Meyreuil 酒店装修工程 2,705,263.07 - 2,705,263.07 2,755,266.48 - 2,755,266.48
Htel Grill Cergy, Osny 酒店装修工程 2,468,706.30 - 2,468,706.30 107,409.96 - 107,409.96
LC Vill'Up SAS 酒店装修工程 2,003,688.22 - 2,003,688.22 2,807,628.55 - 2,807,628.55
GDL 其他装修工程 43,059,224.67 - 43,059,224.67 60,329,147.61 - 60,329,147.61
小计 139,321,165.11 - 139,321,165.11 144,090,935.48 - 144,090,935.48
Keystone 在建工程
商用物业建设工程 23,930,073.61 - 23,930,073.61 23,930,073.61 - 23,930,073.61
“7 天”酒店改造装修工程 19,254,556.47 - 19,254,556.47 14,977,805.49 - 14,977,805.49
“7 天优品”酒店改造装修工程 12,736,949.49 - 12,736,949.49 1,375,831.38 - 1,375,831.38
Keystone 其他装修工程 5,405,404.53 (80,000.00) 5,325,404.53 7,798,840.88 (80,000.00) 7,718,840.88
小计 61,326,984.10 (80,000.00) 61,246,984.10 48,082,551.36 (80,000.00) 48,002,551.36
90
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
12、在建工程 - 续
(1) 在建工程情况 - 续
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目
账面余额 减值准备 账面净值 账面余额 减值准备 账面净值
维也纳酒店及百岁村餐饮在建工程
“维也纳好眠”深圳机场一路店装修 32,303,247.38 - 32,303,247.38 11,562,923.34 - 11,562,923.34
“维也纳国际”西安大雁塔店装修工程 8,632,903.21 - 8,632,903.21 - - -
“维也纳国际”苏州北广场店装修工程 7,843,722.00 - 7,843,722.00 - - -
“维也纳国际”成都世纪城会展店装修工程 2,676,801.33 - 2,676,801.33 60,495,836.31 - 60,495,836.31
“维也纳维纳斯”深圳沙井麒麟店装修工程 2,976,607.21 - 2,976,607.21 369,233.20 - 369,233.20
维也纳酒店及百岁村餐饮其他装修工程 13,301,054.27 - 13,301,054.27 4,757,722.01 - 4,757,722.01
小计 67,734,335.40 - 67,734,335.40 77,185,714.86 - 77,185,714.86
其他在建工程
“锦江都城”长沙开福酒店工程 98,477,021.48 - 98,477,021.48 94,127,982.53 - 94,127,982.53
“锦江都城”南京饭店装修工程 43,510,266.98 - 43,510,266.98 39,010,320.94 - 39,010,320.94
“锦江都城”南华亭宾馆装修工程 25,929,381.11 - 25,929,381.11 24,106,901.78 - 24,106,901.78
其他装修工程 1,331,109.15 - 1,331,109.15 1,291,539.91 - 1,291,539.91
固定资产装修合计 565,899,386.48 (80,000.00) 565,819,386.48 664,239,959.70 (80,000.00) 664,159,959.70
二、软件
锦江之星集采财务项目及其他 10,300,643.42 - 10,300,643.42 6,206,391.15 - 6,206,391.15
Keysotne 税务管理系统接口及其他 3,897,796.24 (2,600,420.00) 1,297,376.24 3,809,853.93 (2,600,420.00) 1,209,433.93
软件合计 14,198,439.66 (2,600,420.00) 11,598,019.66 10,016,245.08 (2,600,420.00) 7,415,825.08
总计 580,097,826.14 (2,680,420.00) 577,417,406.14 674,256,204.78 (2,680,420.00) 671,575,784.78
91
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
12、在建工程 - 续
(2) 重大在建工程项目变动情况
人民币元
本期利息
2016 年 本期转入 本期转入 本期转入 本期 外币报表 2017 年 利息资本化 其中:本期利息
项目名称 收购子公司增加 本期购建 资本化率 资金来源
12 月 31 日 固定资产 无形资产 长期待摊费用 其他减少 折算差额 6 月 30 日 累计金额 资本化金额
(%)
“锦江都城”长沙开福酒店工程 94,127,982.53 - 4,349,038.95 - - - - - 98,477,021.48 - - - 自筹资金
Louvre Htels Group 酒店装修工程 57,136,779.37 - 9,100,954.97 - (12,840,947.53) - - 3,314,809.24 56,711,596.05 - - - 自筹资金
“锦江都城”南京饭店装修工程 39,010,320.94 - 4,499,946.04 - - - - - 43,510,266.98 - - - 自筹资金
“维也纳好眠”深圳机场一路店装修 11,562,923.34 - 20,740,324.04 - - - - - 32,303,247.38 - - - 自筹资金
“康铂”上海自然博物馆酒店装修工程 19,188,898.21 - 10,040,800.06 - - - - - 29,229,698.27 - - - 自筹资金
“锦江都城”南华亭宾馆装修工程 24,106,901.78 - 1,822,479.33 - - - - - 25,929,381.11 - - - 自筹资金
商用物业建设工程 23,930,073.61 - - - - - - - 23,930,073.61 - - - 自筹资金
“锦江之星”上海九亭沪松公路店装修工程 21,574,939.88 - 1,620,000.00 - - - - - 23,194,939.88 - - - 募集资金
“金广”临汾解放路酒店装修工程 23,002,358.35 - - - - - (1,161,519.43) - 21,840,838.92 - - - 自筹资金
“锦江之星”天津台儿庄路店装修工程 19,618,358.07 - 1,514,498.04 - - - - - 21,132,856.11 - - - 募集资金
“7 天”酒店改造装修工程 14,977,805.49 - 20,434,120.21 - - (16,157,369.23) - - 19,254,556.47 - - - 自筹资金
“锦江之星”苏州市工业园区通园路店装修工程 1,442,664.65 - 13,808,287.33 - - - - - 15,250,951.98 - - - 自筹资金
Htels du pont de Suresnes 酒店装修工程 7,236,432.89 - 5,457,905.40 (439,092.57) - - - 636,794.64 12,892,040.36 - - - 自筹资金
“7 天优品”酒店改造装修工程 1,375,831.38 - 13,456,681.51 - - (2,095,563.40) - - 12,736,949.49 - - - 自筹资金
“康铂”南京江宁将军大道店装修工程 - - 11,446,143.58 - - - - - 11,446,143.58 - - - 自筹资金
Bleu Aix en Provence Galice 酒店装修工程 2,246,746.38 - 7,645,610.38 - - - - 438,181.03 10,330,537.79 - - - 自筹资金
“维也纳国际”西安大雁塔店装修工程 - - 8,655,116.80 - - (22,213.59) - - 8,632,903.21 - - - 自筹资金
“维也纳国际”苏州北广场店装修工程 - - 7,843,722.00 - - - - - 7,843,722.00 - - - 自筹资金
“康铂”上海静安寺酒店装修工程 - - 5,050,539.33 - - - - - 5,050,539.33 - - - 自筹资金
Htel Grill Bordeaux Artigues 酒店装修工程 2,497,139.96 - 1,292,732.38 (351,282.00) - - - 188,519.66 3,627,110.00 - - - 自筹资金
“维也纳维纳斯”深圳沙井麒麟店装修工程 369,233.20 - 2,760,374.01 - - (153,000.00) - - 2,976,607.21 - - - 自筹资金
Htel Grill Compiegne 酒店装修工程 4,554,832.32 - 262,008.59 (2,245,697.69) - - - 197,665.80 2,768,809.02 - - - 自筹资金
Htel Grill de Chelles 酒店装修工程 4,419,551.96 - 204,665.01 (2,064,391.89) - - - 194,364.55 2,754,189.63 - - - 自筹资金
Htel Gril Aix Meyreuil 酒店装修工程 2,755,266.48 - 596,769.65 (805,499.70) - - - 158,726.64 2,705,263.07 - - - 自筹资金
“维也纳国际”成都世纪城会展店装修工程 60,495,836.31 - 14,789,963.82 - - (72,608,998.80) - - 2,676,801.33 - - - 自筹资金
Htel Grill Cergy, Osny 酒店装修工程 107,409.96 - 2,374,890.62 (109,589.97) - - - 95,995.69 2,468,706.30 - - - 自筹资金
LC Vill'Up SAS 酒店装修工程 2,807,628.55 - 635,987.13 (1,573,055.62) - - - 133,128.16 2,003,688.22 - - - 自筹资金
“锦江都城”沈阳三好街酒店装修工程 39,107,212.60 - - (4,991,716.62) - (32,629,998.03) (1,374,123.58) - 111,374.37 - - - 自筹资金
“锦江之星”佛山南海桂城地铁站店装修工程 26,669,174.34 - 1,022,047.10 (3,318,223.13) - (24,372,998.31) - - - - - - 自筹资金
“锦江之星”上海真南路酒店工程 19,132,069.39 - 251,327.05 (2,996,081.50) - (16,387,314.94) - - - - - - 自筹资金
92
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
12、 在建工程 - 续
(2)重大在建工程项目变动情况 - 续
人民币元
本期利息
2016 年 本期转入 本期转入 本期转入 本期 外币报表 2017 年 利息资本化 其中:本期利息
项目名称 收购子公司增加 本期购建 资本化率 资金来源
12 月 31 日 固定资产 无形资产 长期待摊费用 其他减少 折算差额 6 月 30 日 累计金额 资本化金额
(%)
“锦江之星”银川清和南街店装修工程 18,418,158.77 - 748,230.99 (3,401,713.50) - (15,763,589.26) - - 1,087.00 - - - 募集资金
“锦江之星”克拉玛依市行政中心店装修工程 16,555,746.57 - 302,717.29 (2,505,441.92) - (14,353,021.94) - - - - - - 募集资金
“锦江之星”杭州滨江江陵路店装修工程(注) 15,728,695.97 - 1,388,368.96 - - - (17,117,064.93) - - - - - 自筹资金
“锦江之星”敦煌市妙街店装修工程 14,172,478.65 - 698,708.80 (2,667,239.08) - (12,203,948.37) - - - - - - 募集资金
境外其他在建工程 60,329,147.61 1,154,996.42 15,691,607.21 (36,457,073.83) (924,876.21) - - 3,265,423.47 43,059,224.67 - - -
境内其他在建工程 22,917,185.27 - 54,892,293.61 (17,626,123.17) (5,640,063.42) (21,856,764.78) (120,246.19) - 32,566,281.32 - - -
合计 671,575,784.78 1,154,996.42 245,398,860.19 (81,552,222.19) (19,405,887.16) (228,604,780.65) (19,772,954.13) 8,623,608.88 577,417,406.14 - - -
注：本财务报告期间内，本集团与出租方协议解除锦江之星杭州滨江江陵路店的租赁合同。本集团已经发生的装修支出人民币 17,117,064.93 元，扣除出租方给予
的相关补偿确认损失人民币 3,647,693.45 元。
(3) 本财务报表期间内无计提在建工程减值准备。
93
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
13、无形资产
人民币元
专利、相关权利
项目 土地使用权 长期租约受益权 商标及品牌(注) 会员权 合计
及软件
一、账面原值
1.2016 年 12 月 31 日 366,605,118.73 352,901,080.14 5,875,440,100.86 335,600,000.00 1,009,426,969.13 7,939,973,268.86
2.本期增加金额
(1)购置 - - - - 2,133,957.06 2,133,957.06
(2)在建工程转入 - - - - 19,405,887.16 19,405,887.16
3.本期减少金额
(1)处置 - - - - (63,455.10) (63,455.10)
4.外币报表折算差额 - 2,911,027.56 130,370,396.80 - 19,707,895.94 152,989,320.30
5.2017 年 6 月 30 日 366,605,118.73 355,812,107.70 6,005,810,497.66 335,600,000.00 1,050,611,254.19 8,114,438,978.28
二、累计摊销
1.2016 年 12 月 31 日 81,592,946.78 103,333,683.98 132,647.36 12,575,000.00 401,669,710.94 599,303,989.06
2.本期增加金额
(1)计提 4,515,133.26 19,084,066.33 17,594.94 8,389,999.98 69,099,541.77 101,106,336.28
3.本期减少金额
(1)处置 - - - - (25,711.42) (25,711.42)
4.外币报表折算差额 - 197,118.65 - - 15,344,504.54 15,541,623.19
5.2017 年 6 月 30 日 86,108,080.04 122,614,868.96 150,242.30 20,964,999.98 486,088,045.83 715,926,237.11
三、减值准备
1.2016 年 12 月 31 日 - - - - - -
2.本期增加金额 - - - - - -
3.本期减少金额 - - - - - -
4.2017 年 6 月 30 日 - - - - - -
四、账面价值
1.2017 年 6 月 30 日 280,497,038.69 233,197,238.74 6,005,660,255.36 314,635,000.02 564,523,208.36 7,398,512,741.17
2.2016 年 12 月 31 日 285,012,171.95 249,567,396.16 5,875,307,453.50 323,025,000.00 607,757,258.19 7,340,669,279.80
注： 本集团认为在可预见的将来除百岁村餐饮的商标外其他品牌均会使用并带给本集团预期的经济
利益流入，故其使用寿命是不确定的。
14、商誉
(1) 商誉账面原值
人民币元
2016 年 2017 年
被投资单位名称或形成商誉的事项 本期增加 外币报表折算差额
12 月 31 日 6 月 30 日
Keystone 5,766,874,767.03 - - 5,766,874,767.03
维也纳酒店及百岁村餐饮 668,816,710.56 - - 668,816,710.56
GDL(注) 4,386,896,065.70 182,928,082.58 273,051,260.46 4,842,875,408.74
山西金广快捷酒店管理有限公司(“金广快捷”) 40,171,417.85 - - 40,171,417.85
时尚之旅 51,785,803.21 - - 51,785,803.21
深圳市都之华酒店管理有限公司(“都之华”) 3,740,756.59 - - 3,740,756.59
合计 10,918,285,520.94 182,928,082.58 273,051,260.46 11,374,264,863.98
注： 于 2017 年 1 月，GDL 非同一控制下企业合并 Sarovar Hotels Private Limited(“Sarovar”)的合并成
本超过合并中取得对方可辨认净资产公允价值份额的金额为 24,536,000.00 欧元，折合人民币
182,928,082.58 元，确认为商誉。详见附注(六)1。
94
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
14、商誉 - 续
(2) 商誉减值准备
2016 年 2017 年
被投资单位名称或形成商誉的事项 本期增加 外币报表折算差额
12 月 31 日 6 月 30 日
都之华 3,740,756.59 - - 3,740,756.59
将商誉分摊到资产组
本集团以经营分部作为报告分部。为减值测试的目的，本集团将商誉分摊至五个资产组，包括一个属于
中国大陆境外有限服务型酒店营运及管理业务分部的资产组和四个属于中国大陆境内有限服务型酒店营
运及管理业务分部的资产组。2017 年 6 月 30 日，分配到这五个资产组的商誉的账面价值及相关减值准
备如下：
人民币元
成本 减值准备 2017 年 6 月 30 日
境外有限服务型酒店营运及管理业务分部-GDL 4,842,875,408.74 - 4,842,875,408.74
境内有限服务型酒店营运及管理业务分部-Keystone 5,766,874,767.03 - 5,766,874,767.03
境内有限服务型酒店营运及管理业务分部
668,816,710.56 - 668,816,710.56
-维也纳酒店及百岁村餐饮
境内有限服务型酒店营运及管理业务分部-金广快捷 40,171,417.85 - 40,171,417.85
境内有限服务型酒店营运及管理业务分部-时尚之旅 51,785,803.21 - 51,785,803.21
合计 11,370,524,107.39 - 11,370,524,107.39
计算上述资产组的可收回金额的关键假设及其依据如下：
A. 资产组 GDL
资产组 GDL 的可收回金额按照公允价值减去处置费用后的净额与预计未来现金流量的现值孰高确定。
在预计公允价值及处置费用时使用的关键假设为：基于该资产组过去的业绩和对市场发展的预期估计预
计未来的平均息税折旧摊销前利润(“EBITDA”)。
在预计未来现金流量的现值时使用的关键假设为：基于该资产组过去的业绩和对市场发展的预期估计预
计的收入增长率以及折现率。
管理层认为上述假设发生的任何合理变化均不会导致资产组 GDL 的账面价值合计超过其可收回金额。
B. 资产组 Keystone
资产组 Keystone 的可收回金额按照预计未来现金流量的现值确定。未来现金流量基于管理层批准的 2017
年至 2022 年的财务预算确定。在预计未来现金流量的现值时使用的关键假设为：基于该资产组过去的业
绩和市场发展的预期估计预计的平均每间可供出租客房收入增长率、客房数量增长率以及折现率。
管理层认为上述假设发生的任何合理变化均不会导致资产组 Keystone 的账面价值合计超过其可收回金
额。
95
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
14、商誉 - 续
(2) 商誉减值准备 - 续
C. 资产组维也纳酒店及百岁村餐饮
资产组维也纳酒店及百岁村餐饮的可收回金额按照预计未来现金流量的现值确定。未来现金流量基于管
理层批准的 2017 年至 2022 年的财务预算确定。在预计未来现金流量的现值时使用的关键假设为：基于
该资产组过去的业绩和市场发展的预期估计预计的平均每间可供出租客房收入增长率、客房数量增长率
以及折现率。
管理层认为上述假设发生的任何合理变化均不会导致资产组维也纳酒店及百岁村餐饮的账面价值合计超
过其可收回金额。
D. 资产组时尚之旅
资产组时尚之旅的可收回金额按照公允价值减去处置费用后的净额确定。在预计公允价值及处置费用时
使用的关键假设为：基于同类物业在市场上的处置价格预计的该资产组持有物业的预期处置价格。
管理层认为上述假设发生的任何合理变化均不会导致资产组时尚之旅的账面价值合计超过其可收回金额。
E. 资产组金广快捷
资产组金广快捷的可收回金额按照预计未来现金流量的现值确定。未来现金流量基于管理层批准的 2017
年至 2022 年的财务预算确定。在预计未来现金流量的现值时使用的其他关键假设还有：基于该资产组过
去的业绩和管理层对市场发展的预期估计预计的平均每间可供出租客房收入增长率及折现率。
对于资产组金广快捷，管理层认为上述假设发生的任何合理变化均不会导致资产组账面价值合计超过其
可收回金额。
15、长期待摊费用
人民币元
2016 年 本期增加 其他减少 外币报表 2017 年
项目 本期摊销金额
12 月 31 日 金额(注 1) 金额(注 2) 折算差额 6 月 30 日
经营租入固定资产改良支出 2,540,582,359.29 145,486,818.34 (247,569,902.31) (31,763,773.19) 5,094,046.08 2,411,829,548.21
经营租入固定资产装修支出 363,227,949.63 91,110,338.34 (55,525,806.53) (587,435.98) - 398,225,045.46
预付租金及其他 48,659,066.53 - - (5,564,159.17) - 43,094,907.36
合计 2,952,469,375.45 236,597,156.68 (303,095,708.84) (37,915,368.34) 5,094,046.08 2,853,149,501.03
注 1： 本期增加金额包括在建工程完工转入长期待摊费用人民币 228,604,780.65 元，购置增加长期待摊
费用人民币 7,992,376.03 元。
注 2： 其他减少金额包括预付租金结转租赁费用人民币 5,564,159.17 元，因工程竣工结算调整而减少的
长期待摊费用人民币 9,860,686.26 元，报废处置人民币 11,173,340.94 元以及因经营租入固定资产
改良支出发生减值而减少的人民币 11,317,181.97 元。
96
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
16、递延所得税资产/递延所得税负债
(1) 未经抵销的递延所得税资产
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目 可抵扣 可抵扣
递延所得税资产 递延所得税资产
暂时性差异 暂时性差异
应付职工薪酬 163,577,423.53 42,942,189.36 170,004,184.60 47,216,462.55
预提费用 134,584,627.72 33,646,156.94 30,298,731.28 7,574,682.82
预收会员卡及积分的递延收益 105,479,743.85 26,369,935.97 125,191,447.20 31,293,254.12
经营租赁费用 386,200,389.96 96,550,097.53 348,907,837.85 86,526,609.43
政府补助 59,211,664.75 14,802,916.19 17,774,482.58 4,443,618.46
资产减值准备 167,404,010.02 41,851,002.57 157,065,559.56 39,266,388.07
固定资产折旧税会差异 15,990,093.56 3,997,523.39 16,490,912.40 4,122,728.10
可抵扣亏损 2,234,349,813.79 618,116,836.16 1,875,288,354.71 623,418,012.43
资本化费用 269,340.36 67,335.09 278,701.32 69,675.33
其他 45,017,515.21 11,470,781.21 47,176,735.51 12,374,147.45
合计 3,312,084,622.75 889,814,774.41 2,788,476,947.01 856,305,578.76
(2) 未经抵销的递延所得税负债
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目 应纳税 应纳税
递延所得税负债 递延所得税负债
暂时性差异 暂时性差异
计入其他综合收益的可供出售
517,761,686.76 129,440,421.69 656,719,052.52 164,179,763.16
金融资产公允价值变动
非同一控制下企业合并中资产
8,845,135,263.05 2,450,930,148.64 8,880,856,265.22 2,564,074,218.10
公允价值调整
融资租赁费用 102,612,201.16 28,731,416.33 86,123,848.78 29,652,441.13
固定资产折旧税会差异 132,766,774.64 37,174,696.90 112,607,239.15 38,770,672.44
其他 119,712,076.32 33,508,176.90 71,313,936.43 24,518,169.02
合计 9,717,988,001.93 2,679,784,860.46 9,807,620,342.10 2,821,195,263.85
(3) 以抵销后净额列示的递延所得税资产或负债
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目 递延所得税资产 抵销后递延所得 递延所得税资产 抵销后递延所得
和负债互抵金额 税资产或负债 和负债互抵金额 税资产或负债
递延所得税资产 271,551,102.10 618,263,672.31 306,581,418.36 549,724,160.40
递延所得税负债 271,551,102.10 2,408,233,758.36 306,581,418.36 2,514,613,845.49
(4) 未确认递延所得税资产明细
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
可抵扣亏损 848,549,613.55 765,450,628.76
可抵扣暂时性差异 66,809,304.64 37,256,471.45
合计 915,358,918.19 802,707,100.21
97
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
16、递延所得税资产/递延所得税负债 - 续
(5)未确认递延所得税资产的可抵扣亏损将于以下年度到期
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
2017 年 88,236,613.75 103,793,972.28
2018 年 76,920,202.15 74,364,124.43
2019 年 158,856,966.32 158,042,293.91
2020 年 216,318,510.12 212,118,702.48
2021 年及以后 308,217,321.21 217,131,535.66
合计 848,549,613.55 765,450,628.76
17、其他非流动资产
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
一年后到期的质押存款 - 3,306,492,000.00
一年后到期的质押存款利息 - 224,510,806.80
地下建筑租赁使用费 48,900,286.37 49,634,933.56
委托贷款(注) 9,050,000.00 10,420,000.00
保证金及押金 33,690,888.86 33,553,018.29
其他 646,341.88 634,355.95
合计 92,287,517.11 3,625,245,114.60
减：一年内到期的其他非流动资产 9,247,960.85 9,000,000.00
一年后到期的其他非流动资产 83,039,556.26 3,616,245,114.60
注： 系旅馆投资委托财务公司向新锦酒店管理发放的委托贷款人民币 9,000,000.00 元以及 Keystone
对加盟店发放的委托贷款人民币 50,000.00 元。
18、资产减值准备明细
人民币元
2016 年 外币报表 2017 年
项目 本期计提 本期转回 本期转销
12 月 31 日 折算差额 6 月 30 日
一、坏账准备 180,904,127.19 15,333,351.39 (17,730,509.37) (1,088,287.39) 6,360,499.21 183,779,181.03
二、存货跌价准备 2,746,711.33 302,411.46 - (79,073.28) 123,501.04 3,093,550.55
三、其他流动资产减值准备 5,543,803.80 - - - - 5,543,803.80
四、可供出售金融资产减值准备 3,793,074.19 - - - 214,714.13 4,007,788.32
五、持有至到期投资减值准备 - - - - - -
六、长期股权投资减值准备 4,859,078.00 - - - - 4,859,078.00
七、投资性房地产减值准备 - - - - - -
八、固定资产减值准备 104,404.20 4,544,950.79 - - - 4,649,354.99
九、工程物资减值准备 - - - - - -
十、在建工程减值准备 2,680,420.00 - - - - 2,680,420.00
十一、生产性生物资产减值准备 - - - - - -
十二、油气资产减值准备 - - - - - -
十三、无形资产减值准备 - - - - - -
十四、商誉减值准备 3,740,756.59 - - - - 3,740,756.59
十五、长期待摊费用减值准备 32,770,526.05 11,317,181.97 - - - 44,087,708.02
十六、其他非流动资产减值准备 3,377,056.74 - - - - 3,377,056.74
十七、其他 - - - - - -
合计 240,519,958.09 31,497,895.61 (17,730,509.37) (1,167,360.67) 6,698,714.38 259,818,698.04
98
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
19、短期借款
短期借款分类：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
信用借款—银行(注 1) 953,177,065.36 2,407,927,127.66
信用借款—其他金融机构(注 2) 6,000,000.00 800,000,000.00
质押借款 - 920,000,000.00
合计(注 3) 959,177,065.36 4,127,927,127.66
注 1：本财务报告期末，本集团银行借款主要包括从招商银行股份有限公司上海外滩支行、上海银行股
份有限公司徐汇支行、上海农村商业银行股份有限公司获得的人民币借款，金额分别为
430,000,000.00 元、300,000,000.00 元、200,000,000.00 元，借款年利率均为 3.915%。
注 2：本财务报告期末，本集团信用借款中从财务公司获得的借款金额为人民币 6,000,000.00 元，借款年
利率为 3.915% 。
注 3：本财务报告期末，本集团短期借款余额中人民币 23,177,065.36 元以浮动利率计息。
20、应付账款
应付账款明细如下：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
应付经营货款 1,472,725,038.99 1,453,997,150.05
应付工程项目款 483,759,160.44 599,699,541.88
合计 1,956,484,199.43 2,053,696,691.93
21、预收款项
预收款项明细如下：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
预收会员卡及储值卡 229,217,110.47 220,936,506.41
预收加盟费 224,786,522.54 162,926,445.83
预收房款及餐饮定金等 128,374,386.22 122,703,145.39
预收采购款 110,798,125.37 145,073,093.96
其他 24,823,570.98 23,503,442.07
合计 717,999,715.58 675,142,633.66
99
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
22、应付职工薪酬
(1) 应付职工薪酬列示
人民币元
2016 年 2017 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、短期薪酬 585,038,619.22 1,927,284,943.90 (1,862,283,530.30) 650,040,032.82
2、境内离职后福利-设定提存计划 66,643,387.61 92,897,915.52 (81,736,008.38) 77,805,294.75
3、辞退福利 18,031,088.44 13,393,539.91 (4,781,602.13) 26,643,026.22
合计 669,713,095.27 2,033,576,399.33 (1,948,801,140.81) 754,488,353.79
(2) 短期薪酬列示
人民币元
2016 年 2017 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、工资、奖金、津贴和补贴 439,833,611.08 1,602,550,740.38 (1,557,371,801.48) 485,012,549.98
2、职工福利费 37,860.11 70,802,819.73 (70,664,930.65) 175,749.19
3、境内社会保险费 25,892,371.47 42,203,459.35 (40,515,453.24) 27,580,377.58
其中：医疗保险费 21,612,454.09 36,508,525.95 (35,329,833.29) 22,791,146.75
工伤保险费 1,364,361.47 1,944,154.17 (1,832,692.82) 1,475,822.82
生育保险费 2,915,555.91 3,750,779.23 (3,352,927.13) 3,313,408.01
4、境内住房公积金 35,833,463.20 49,743,439.67 (45,564,057.75) 40,012,845.12
5、境外社会保险费 81,134,932.25 154,814,971.74 (141,395,663.20) 94,554,240.79
6、工会经费和职工教育经费 2,297,613.29 7,031,513.03 (6,633,623.98) 2,695,502.34
7、其他 8,767.82 138,000.00 (138,000.00) 8,767.82
合计 585,038,619.22 1,927,284,943.90 (1,862,283,530.30) 650,040,032.82
(3) 境内离职后福利-设定提存计划
人民币元
2016 年 2017 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、养老保险费 61,266,056.55 89,017,080.98 (77,915,465.14) 72,367,672.39
2、失业保险费 5,377,331.06 3,880,834.54 (3,820,543.24) 5,437,622.36
合计 66,643,387.61 92,897,915.52 (81,736,008.38) 77,805,294.75
本公司及境内子公司按规定参加由政府机构设立的养老保险、失业保险计划，根据该等计划，本公司及
境内子公司分别按员工上一年度月平均工资的一定比例每月计提费用。除上述每月计提的费用外，本公
司及境内子公司不再承担进一步支付义务。相应的支出于发生时计入当期损益或相关资产的成本。
本财务报告期内，本公司及境内子公司应分别向养老保险、失业保险计划缴存费用人民币 89,017,080.98
元及人民币 3,880,834.54 元。本财务报告期末，本集团尚有人民币 72,367,672.39 元及人民币 5,437,622.36
元的应缴存费用是于本财务报告期内到期而未支付给养老保险及失业保险计划的。
100
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
23、应交税费
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
增值税 96,539,981.40 78,417,461.20
企业所得税 195,995,200.10 183,658,710.20
房产税 6,856,957.51 7,105,527.09
境内其他税费 22,229,896.86 25,499,277.40
境外其他税费 70,419,697.33 35,257,674.41
合计 392,041,733.20 329,938,650.30
24、应付利息
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
长期借款应付利息 23,174,273.54 44,184,472.29
短期借款应付利息 1,081,090.28 4,680,865.29
合计 24,255,363.82 48,865,337.58
25、应付股利
人民币元
单位名称 2017 年 6 月 30 日 2016 年 12 月 31 日
应付 A 股股东股利 463,047.45 429,303.93
应付少数股东股利 1,733,120.00 -
合计 2,196,167.45 429,303.93
26、其他应付款
(1) 其他应付款明细如下：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
代收款 676,816,143.25 442,201,772.12
定金和押金 152,547,331.26 125,281,374.31
预提费用 169,079,339.72 138,294,085.33
预提重大资产置换及附属交易涉及税金 58,623,448.29 58,623,448.29
工程保证金 21,772,921.71 26,774,517.30
项目合作款 30,000,000.00 30,000,000.00
应付维也纳酒店及百岁村餐饮收购尾款 - 177,846,186.00
应付股权收购项目中介机构费用 9,181,243.88 10,655,224.85
应付诉讼款 1,370,501.23 1,370,501.23
应付时尚之旅股权转让款 9,796,303.25 9,796,303.25
其他 67,490,643.21 58,000,846.24
合计 1,196,677,875.80 1,078,844,258.92
101
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
26、其他应付款 - 续
(2) 本财务报告期末账龄超过 1 年的大额其他应付款情况的说明
本财务报告期末，账龄超过 1 年的的大额其他应付款包括：
本公司预提尚未支付的最终金额尚需待相关税金的清算工作完成后确定的重大资产置换及附属交易
涉及税金人民币 58,623,448.29 元。
本集团之子公司 Keystone 应付项目合作款余额人民币 30,000,000.00 元，系 Keystone 于 2013 年度收
到第三方合作方关于双方合作开发商用物业项目的合作款。本财务报告期末，该合作项目尚未实施，
该款项未来将用于合作项目支出用途。
本公司应付时尚之旅股权转让款余额人民币 9,796,303.25 元，该股权转让款余额作为交易保证金将于
时尚之旅瑕疵物业等事项解除后进行支付。
(3) 除(2)中所述项目外，本财务报告期末本集团的其他应付款主要系与日常经营有关的预提租金等费用、
代收款项、定金和押金等款项。
27、一年内到期的非流动负债
(1) 一年内到期的非流动负债明细如下：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
一年内到期的长期借款 6,260,518,854.58 3,059,673,015.51
一年内到期的长期应付款 10,067,993.59 9,423,562.05
一年内到期的其他非流动负债 6,102,750.00 6,102,750.00
合计 6,276,689,598.17 3,075,199,327.56
(2) 一年内到期的长期借款的情况详见附注(五)28。
(3) 一年内到期的长期应付款的情况详见附注(五)29。
(4) 一年内到期的其他非流动负债的情况详见附注(五)32。
28、长期借款
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
质押借款(注 1) 10,916,984,353.00 14,343,308,220.11
抵押借款(注 2) 77,456,161.09 73,687,460.99
信用借款(注 3) 8,185,903,863.87 3,533,647,864.94
保证借款(注 4) 30,000,000.00 40,000,000.00
委托借款(注 5) 4,500,000.00 4,500,000.00
合计(注 6) 19,214,844,377.96 17,995,143,546.04
减：一年内到期的长期借款 6,260,518,854.58 3,059,673,015.51
一年后到期的长期借款 12,954,325,523.38 14,935,470,530.53
102
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
28、长期借款 - 续
注 1：本财务报告期末，本集团子公司海路投资向中国工商银行股份有限公司等银团融入质押借款
773,844,373.00 欧元，折合人民币 5,996,984,353.00 元。该借款以定期存款人民币 3,306,492,000.00
元以及子公司海路投资之所有权作为质押，并由锦江国际提供担保。借款期限自 2015 年 5 月 19
日至 2018 年 5 月 18 日，年利率为浮动利率，本财务报告期内平均利率为 1.10%。
本财务报告期末，本集团从中国进出口银行融入质押借款人民币 4,920,000,000.00 元，其中一年内
到期借款为人民币 220,000,000.00 元。该借款以子公司 Keystone 81.0034%股权作为质押。借款期
限自 2016 年 2 月 18 日至 2022 年 2 月 18 日，年利率为浮动利率，本财务报告期内平均利率为 3.25%。
注 2：本财务报告期末，本集团下属子公司向境外银行融入借款波兰兹罗提抵押借款，折合人民币
77,456,161.08 元，其中一年内到期借款折合人民币 8,203,237.96 元。本集团下属相关子公司以其固
定资产作为抵押。借款到期日为 2023 年 3 月 31 日，年利率为波兰银行间三个月同业拆借利率上
浮 2.70 百分点。
注 3：本财务报告期末，本集团分别从中国建设银行股份有限公司上海浦东分行、上海农村商业银行股
份有限公司、中国银行股份有限公司上海市国贸中心支行获得人民币借款，金额分别为人民币
1,900,000,000.00 元、人民币 500,000,000.00 元、人民币 600,000,000.00 元，年利率均为浮动利率，
本财务报告期内利率范围在 3.895%至 4.275%。
本财务报告期末，本集团下属子公司 Keystone 分别向中国工商银行股份有限公司、上海浦东发展
银行股份有限公司上海闸北支行获得人民币借款金额分别为人民币 280,000,000.00 元、人民币
920,000,000.00 元，年利率均为浮动利率，本财务报告期内利率均为 4.275%。
本财务报告期末，本集团下属境外子公司向境外银行借入外币借款折合人民币 87,103,863.87 元，
其中一年内到期的借款为人民币 831,263.62 元。
本财务报告期末，本集团下属子公司海路投资向关联方 Master Melon Capital 融入借款
500,000,000.00 欧元，折合人民币 3,874,800,000.00 元，借款期限自 2017 年 5 月 15 日至 2022 年 5
月 10 日，年利率为 1.08%。
本财务报告期末，本集团信用借款中从财务公司获得的借款金额为人民币 24,000,000.00 元，借款
年利率为 4.0375%。
注 4：本财务报告期末，本集团下属子公司维也纳酒店向中国工商银行股份有限公司深圳福田支行融入
借款人民币 30,000,000.00 元，借款期限自 2015 年 8 月 18 日至 2017 年 8 月 3 日，年利率为 5.10%，
由少数股东黄德满先生提供担保。
注 5：本财务报告期末，旅馆投资下属子公司沈阳锦富酒店投资管理有限公司向沈阳副食品集团公司取
得的借款余额为人民币 4,500,000.00 元，借款期限自 2014 年 12 月 30 日至 2017 年 12 月 29 日止，
年利率为 1.2%。
注 6：本财务报告期末长期借款中人民币 15,303,339,385.31 元借款以浮动利率计息。
103
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
29、长期应付款
(1) 按款项性质列示长期应付款
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
应付融资租赁款 151,133,141.43 145,489,082.70
其他 30,998.40 21,920.40
合计 151,164,139.83 145,511,003.10
(2) 长期应付款中的应付融资租赁款明细
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
资产负债表日后第 1 年 11,222,842.86 10,548,384.19
资产负债表日后第 2 年 11,280,964.47 10,608,469.69
资产负债表日后第 3 年 11,522,151.39 10,838,945.67
以后年度 180,102,758.81 171,076,490.69
最低租赁付款额合计 214,128,717.53 203,072,290.24
减：未确认融资费用 52,927,582.51 48,159,645.49
应付融资租赁款(注) 161,201,135.02 154,912,644.75
其中：一年内到期的应付融资租赁款 10,067,993.59 9,423,562.05
一年后到期的应付融资租赁款 151,133,141.43 145,489,082.70
并无由独立第三方为本集团融资租赁提供担保的金额。
注： 应付融资租赁款中人民币 156,394,677.60 元以浮动利率计息，对于其中人民币 121,459,480.80 元的
应付融资租赁款，本集团已经购买了利率互换合同，详见附注(五)51。
30、长期应付职工薪酬
(1) 长期应付职工薪酬
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
离职后福利-设定受益计划净负债(注) 57,686,524.56 49,009,564.56
合计 57,686,524.56 49,009,564.56
注：系 GDL 根据所在地国家、行业及公司的相关工资协议规定、员工服务年限及工资水平所决定。
104
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
30、长期应付职工薪酬 - 续
(2) 设定受益计划变动情况
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
一、期初余额 49,009,564.56 161,863,492.93
二、本期收购子公司增加 - -
三、计入当期损益的设定受益成本 3,452,806.92 2,382,446.51
1、当期服务成本 3,081,811.32 1,943,765.34
2、利息净额 370,995.60 438,681.17
四、计入其他综合收益的设定受益成本 - 6,824,578.00
1、精算损失 - 6,824,578.00
五、其他变动 2,037,245.93 (2,060,389.29)
1、结算时支付的对价 (1,000,337.14) (2,060,389.29)
2、合并增加 3,037,583.07 -
六、本期外币报表折算差额 3,186,907.15 6,495,409.23
七、期末余额 57,686,524.56 175,505,537.38
设定受益计划的内容及与之相关风险、对 GDL 未来现金流量、时间和不确定性的影响说明：
设定受益计划使 GDL 面临精算风险，这些风险包括利率风险、长寿风险和通货膨胀风险。政府债券收
益率的降低将导致设定受益计划义务现值增加。设定受益计划义务现值基于参与计划的员工的死亡率的
最佳估计来计算，计划成员预期寿命的增加将导致计划负债的增加。此外，设定受益计划义务现值与计
划未来的支付标准相关，而支付标准根据通货膨胀率确定，因此，通货膨胀率的上升亦将导致计划负债
的增加。
GDL 聘请了 SPAC 公司，根据预期累积福利单位法，以精算方式估计其上述退休福利计划义务的现值。
这项计划以通货膨胀率和死亡率假设预计未来现金流出，以折现率确定其现值。折现率根据资产负债表
日与设定受益计划义务期限和币种相匹配的活跃市场上的高质量公司债券的市场收益率确定。GDL 根据
精算结果确认 GDL 的负债，相关精算利得或损失计入其他综合收益，并且在后续会计期间不会转回至
损益。过去服务成本会在对计划作出修订的期间计入当期损益。通过将设定受益计划净负债乘以适当的
折现率来确定利息净额。
在确定设定受益计划义务现值时所使用的重大精算假设为折现率、通货膨胀率及死亡率。本财务报表期
间折现率与通货膨胀率均为 1.75%。死亡率的假设是以 65 岁退休的男性职工和 60 岁退休的女性职工的
平均预期剩余生命年限，本财务报表期间年限分别为 23.1 年以及 27.7 年。GDL 总部人员薪酬预期 2017
年增长率为 3%，酒店人员薪酬的预期增长率为 2.5%。当员工达到相关规定工作年限后退休，其可领取
的社会福利将不受影响(年龄段包括 60 岁至 65 岁，退休年龄的不同取决于其职业类别及出生年份)。确
定退休年龄时假定普通职员、行政人员以及行政主管分别于 20 岁、22 岁及 23 岁开始工作。
下述敏感性分析以相应假设在报告期末发生的合理可能变动为基础(所有其他假设维持不变)：
如果折现率增加(减少)0.50%，则设定受益计划义务现值将减少人民币 4,095,952.43 元(增加人民
币 3,696,956.30 元)。
如果通货膨胀率增加(减少)0.50%，则设定受益计划义务现值将增加人民币 112,458.41 元(减少人
民币 120,587.45 元)。
如果薪酬的预期增长率增加(减少)0.50%，则设定受益计划义务现值将增加人民币 3,508,220.60
元(减少人民币 3,848,314.99 元)。
105
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
30、长期应付职工薪酬 - 续
(2) 设定受益计划变动情况 - 续
由于部分假设可能具有相关性，一项假设不可能孤立地发生变动，因此上述敏感性分析不一定能反映设
定受益计划义务现值的实际变动。
在上述敏感性分析中，报告期末设定受益计划净负债的计算方法与资产负债表中确认相关债务的计算方
法相同。
与以往年度相比，用于敏感性分析的方法和假设未发生任何变动。
31、预计负债
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
未决诉讼(注 1) 18,574,671.14 14,015,497.53
经营风险准备(注 2) 13,865,518.37 35,906,380.22
合计 32,440,189.51 49,921,877.75
注 1： 本财务报告期末，GDL 被部分员工就劳动纠纷提起诉讼，GDL 管理层根据对诉讼结果的预期计
提预计负债 1,214,780.01 欧元，折合人民币 9,414,059.17 元。
本财务报告期末，本集团之子公司 Keystone 由于房屋租赁、平台服务费等事项受到起诉，Keystone
管理层根据对诉讼结果的预期计提预计负债人民币 9,160,611.97 元。Keystone 由于上述诉讼，人
民币 3,642,515.06 元的银行存款被冻结。
注 2： 主要系 GDL 就经营活动中与第三方发生的争议事项预计的损失。
32、其他非流动负债
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
政府补助 59,211,664.75 17,774,482.58
会员积分 46,577,470.72 46,338,278.36
营销基金(注 1) 42,707,473.29 43,361,397.78
长租约亏损(注 2) 13,564,515.22 14,872,973.76
其他 4,405,717.35 1,382,265.94
合计 166,466,841.33 123,729,398.42
减：一年内到期的其他非流动负债 6,102,750.00 6,102,750.00
一年后到期的其他非流动负债 160,364,091.33 117,626,648.42
注 1：营销基金系 GDL 向加盟酒店收取的品牌推广费，用于 GDL 未来发生的品牌推广活动。
注 2：长租约亏损为本集团收购 Keystone 时根据评估确定的 Keystone 已签订的不可撤销租赁合同未来现
金流出高于收购日市场公允价值部分的现值。该长租约租赁亏损按照相应租赁合同的剩余期限进
行摊销。
106
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
32、其他非流动负债 - 续
涉及政府补助的项目：
人民币元
2016 年 本期计入 2017 年 与资产相关
负债项目 本期新增
12 月 31 日 其他收益金额 6 月 30 日 /与收益相关
信息平台扶持基金 7,800,000.00 - 1,950,000.00 5,850,000.00 与资产相关
新城饭店项目扶持基金 5,127,648.72 - 342,650.00 4,784,998.72 与资产相关
时尚之旅项目扶持基金 3,260,000.00 - 510,000.00 2,750,000.00 与资产相关
锦江都城品牌推广扶持基金 1,472,167.19 - 752,167.19 720,000.00 与收益相关
锦江之星苏州乐园店动迁补助(注) - 45,000,000.00 - 45,000,000.00 与资产/收益相关
其他 114,666.67 - 8,000.64 106,666.03 与资产相关
合计 17,774,482.58 45,000,000.00 3,562,817.83 59,211,664.75
注：本集团于本财务报告期间内收到苏州高新区狮山街道办事处支付的动迁款人民币 45,000,000.00 元。
33、股本
人民币元
2016 年 本期变动 2017 年
12 月 31 日 非公开发行新股 送股 公积金转股 其他 小计 6 月 30 日
一、有限售条件股份
1 国家持股 - - - - - - -
2. 国有法人持股 219,125,242.00 - - - - - 219,125,242.00
3. 其他内资持股 15,244,482.00 - - - - - 15,244,482.00
4. 外资持股 120,325,976.00 - - - - - 120,325,976.00
有限售条件股份合计 354,695,700.00 - - - - - 354,695,700.00
二、无限售条件股份
1. 人民币普通股 447,240,740.00 - - - - - 447,240,740.00
2. 境内上市外资股 156,000,000.00 - - - - - 156,000,000.00
3. 境外上市外资股 - - - - - - -
4. 其他 - - - - - - -
无限售条件股份合计 603,240,740.00 - - - - - 603,240,740.00
三、股份总数 957,936,440.00 - - - - - 957,936,440.00
人民币元
2015 年 本期变动 2016 年
12 月 31 日 非公开发行新股 送股 公积金转股 其他 小计 6 月 30 日
一、有限售条件股份
1 国家持股 - - - - - - -
2. 国有法人持股 101,277,000.00 - - - - - 101,277,000.00
3. 其他内资持股 - - - - - - -
4. 外资持股 100,000,000.00 - - - - - 100,000,000.00
有限售条件股份合计 201,277,000.00 - - - - - 201,277,000.00
二、无限售条件股份
1. 人民币普通股 447,240,740.00 - - - - - 447,240,740.00
2. 境内上市外资股 156,000,000.00 - - - - - 156,000,000.00
3. 境外上市外资股 - - - - - - -
4. 其他 - - - - - - -
无限售条件股份合计 603,240,740.00 - - - - - 603,240,740.00
三、股份总数 804,517,740.00 - - - - - 804,517,740.00
107
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
34、资本公积
人民币元
2016 年 2017 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
资本溢价 8,681,361,436.76 - - 8,681,361,436.76
其中：投资者投入的资本 7,785,762,028.07 - - 7,785,762,028.07
同一控制下企业合并形成的差额 1,027,136,210.91 - - 1,027,136,210.91
与少数股东的股权交易 (131,536,802.22) - - (131,536,802.22)
其他资本公积 163,502,812.00 - (34,601,168.38) 128,901,643.62
其中：原制度资本公积转入 163,502,812.00 - - 163,502,812.00
被投资单位除净损益、其他综合收益和
- - (34,601,168.38) (34,601,168.38)
利润分配外所有者权益其他变动
合计 8,844,864,248.76 - (34,601,168.38) 8,810,263,080.38
人民币元
2015 年 2016 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
资本溢价 4,318,594,736.95 - - 4,318,594,736.95
其中：投资者投入的资本 3,432,896,828.00 - - 3,432,896,828.00
同一控制下企业合并形成的差额 1,027,136,210.91 - - 1,027,136,210.91
与少数股东的股权交易 (141,438,301.96) - - (141,438,301.96)
其他资本公积 163,502,812.00 - - 163,502,812.00
其中：原制度资本公积转入 163,502,812.00 - - 163,502,812.00
合计 4,482,097,548.95 - - 4,482,097,548.95
35、其他综合收益
人民币元
本期发生额
2016 年 减：前期计入其他 2017 年
项目 本期所得税前发 税后归属于 税后归属于
12 月 31 日 综合收益当期转 减：所得税费用 6 月 30 日
生额 母公司所有者 少数股东
入损益
一、以后不能重分类进损益的其他综合收益
其中：重新计算设定受益计划净负债或净资
(3,732,448.14) - - - - - (3,732,448.14)
产的变动
二、以后将重分类进损益的其他综合收益
其中：可供出售金融资产公允价值变动损益 611,354,343.63 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) - 507,136,319.30
权益法下在被投资单位以后将重分类进损益
3,500,343.96 186,422.60 - - 186,422.60 - 3,686,766.56
的其他综合收益中享有的份额
现金流量套期损益的有效部分 740,086.48 1,278,785.41 - 449,188.41 829,597.00 - 1,569,683.48
外币财务报表折算差额 (10,603,035.07) 60,017,903.23 - - 50,359,415.41 9,658,487.82 39,756,380.34
合计 601,259,290.86 12,800,951.33 90,275,205.85 (34,290,153.02) (52,842,589.32) 9,658,487.82 548,416,701.54
人民币元
本期发生额
2015 年 减：前期计入其他 2016 年
项目 本期所得税前发 税后归属于 税后归属于
12 月 31 日 综合收益当期转 减：所得税费用 6 月 30 日
生额 母公司所有者 少数股东
入损益
一、以后不能重分类进损益的其他综合收益
其中：重新计算设定受益计划净负债或净资
587,012.14 (6,824,578.00) - (2,349,702.21) (4,474,875.79) - (3,887,863.65)
产的变动
二、以后将重分类进损益的其他综合收益
其中：可供出售金融资产公允价值变动损益 890,408,124.80 (146,933,456.25) 162,244,213.06 (84,210,023.16) (230,222,566.06) 5,254,919.91 660,185,558.74
权益法下在被投资单位以后将重分类进损益
2,830,442.91 - - - - - 2,830,442.91
的其他综合收益中享有的份额
现金流量套期损益的有效部分 817,758.02 (1,110,917.70) - (382,488.96) (728,428.74) - 89,329.28
外币财务报表折算差额 13,828,808.29 (4,020,037.49) - - (9,692,298.99) 5,672,261.50 4,136,509.30
合计 908,472,146.16 (158,888,989.44) 162,244,213.06 (86,942,214.33) (245,118,169.58) 10,927,181.41 663,353,976.58
108
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
36、盈余公积
人民币元
项目 2016 年 12 月 31 日 本期增加 本期减少 2017 年 6 月 30 日
法定盈余公积 439,717,647.39 - - 439,717,647.39
任意盈余公积 180,681,288.50 - - 180,681,288.50
合计 620,398,935.89 - - 620,398,935.89
人民币元
项目 2015 年 12 月 31 日 本期增加 本期减少 2016 年 6 月 30 日
法定盈余公积 398,582,375.60 - - 398,582,375.60
任意盈余公积 180,681,288.50 - - 180,681,288.50
合计 579,263,664.10 - - 579,263,664.10
根据《中华人民共和国公司法》及本公司章程，本公司按年度母公司净利润的 10%提取法定盈余公积金；
当法定盈余公积金累计额达到股本的 50%以上时，可不再提取。法定盈余公积金经批准后可用于弥补亏
损或者增加股本。任意盈余公积金经批准后可用于弥补以前年度亏损或增加股本。
37、未分配利润
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
期初未分配利润 1,776,723,536.56 1,509,447,901.74
加：本期归属于母公司所有者的净利润 412,453,689.41 299,157,333.01
减：提取法定盈余公积 - -
提取任意盈余公积 - -
应付普通股股利 459,809,491.20 386,168,515.20
转作股本的普通股股利 - -
期末未分配利润 1,729,367,734.77 1,422,436,719.55
38、营业收入、营业成本
(1) 营业收入、营业成本
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日 2016 年 1 月 1 日至 2016 年 6 月 30 日
行业名称 止期间 止期间
收入 成本 收入 成本
主营业务 6,288,923,255.28 603,744,233.37 4,368,066,454.15 434,086,030.02
其他业务 89,895.25 30,888.06 114,631.11 10,296.02
合计 6,289,013,150.53 603,775,121.43 4,368,181,085.26 434,096,326.04
(2) 主营业务(分行业)
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日 2016 年 1 月 1 日至 2016 年 6 月 30 日
行业名称 止期间 止期间
主营业务收入 主营业务成本 主营业务收入 主营业务成本
酒店营运及管理业务 6,164,205,495.77 544,043,536.49 4,247,058,545.83 374,071,062.44
食品及餐饮业务 124,717,759.51 59,700,696.88 121,007,908.32 60,014,967.58
合计 6,288,923,255.28 603,744,233.37 4,368,066,454.15 434,086,030.02
109
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
38、营业收入、营业成本 - 续
(3) 按照地区划分的营业收入
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
中国大陆境内地区 4,495,089,716.62 2,650,509,160.94
其中：上海地区 761,640,301.34 712,170,913.85
上海以外地区 3,733,449,415.28 1,938,338,247.09
中国大陆境外地区 1,793,923,433.91 1,717,671,924.32
合计 6,289,013,150.53 4,368,181,085.26
(4) 中国大陆境内及境外有限服务型酒店营运及管理业务营业收入及营业成本
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日 2016 年 1 月 1 日至 2016 年 6 月 30 日
行业名称 止期间 止期间
营业收入 营业成本 营业收入 营业成本
客房 3,553,801,490.05 - 2,638,293,742.78 -
餐饮 546,490,414.70 238,334,307.83 448,449,608.48 194,520,473.85
商品销售 310,956,580.86 266,282,638.89 197,486,287.34 165,221,206.93
管理
首次加盟费 223,812,839.49 - 72,142,416.70 -
持续加盟费 880,103,700.03 - 628,717,518.46 -
订房渠道费(注) 46,112,420.29 - 25,572,114.14 -
其他 304,235,685.90 - 64,882,544.51 -
管理小计： 1,454,264,645.71 - 791,314,593.81 -
其他
会员卡 149,523,361.80 - 91,170,234.42 -
租赁 65,175,308.59 31,948,399.94 23,816,938.93 12,163,090.20
其他 83,993,694.06 7,478,189.83 56,527,140.07 2,166,291.46
其他小计: 298,692,364.45 39,426,589.77 171,514,313.42 14,329,381.66
合计 6,164,205,495.77 544,043,536.49 4,247,058,545.83 374,071,062.44
注：系通过中央订房系统送达各连锁加盟店的客房预订，按实际住店间夜数和一定标准向相关加盟店收
取的订房渠道销售费。
(5) 餐饮业务营业收入及营业成本
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日 2016 年 1 月 1 日至 2016 年 6 月 30 日
行业名称 止期间 止期间
营业收入 营业成本 营业收入 营业成本
连锁餐饮 44,816,064.24 20,546,364.39 48,195,696.92 21,957,019.47
团体用膳 71,662,190.63 33,172,859.27 64,797,183.04 31,755,419.95
食品销售 6,668,678.05 5,410,303.21 6,344,681.02 5,654,690.25
其他 1,570,826.59 571,170.01 1,670,347.34 647,837.91
合计 124,717,759.51 59,700,696.88 121,007,908.32 60,014,967.58
110
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
38、营业收入、营业成本 - 续
(6) 本集团来自前五名客户的营业收入情况
人民币元
占集团全部营业收入
客户名称 营业收入
的比例(%)
BRAKE FRANCE SERVICES 21,069,820.00 0.34
上海德必投资管理有限公司 18,321,318.54 0.29
BRASSERIE HEINEKEN 4,855,900.00 0.07
NESTLE WATERS 2,915,730.00 0.05
DIVERSEY EUROPE BV 2,906,670.00 0.05
合计 50,069,438.54 0.80
39、按性质分类的成本与费用
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
商品成本 594,953,074.80 423,833,321.53
职工薪酬 2,022,851,633.20 1,286,180,237.37
其中：工资和薪金 1,603,587,885.31 992,440,126.57
社会保险费和住房公积金 334,419,811.90 238,077,685.79
福利费和其他费用 84,843,935.99 55,662,425.01
能源费及物料消耗 464,238,640.42 343,144,858.55
折旧与摊销 769,139,690.83 571,858,490.25
经营租赁费用 901,561,794.71 634,463,876.21
维修和维护费 206,512,831.99 188,106,755.62
房产税及其他税费附加 - 63,961,399.71
其他 788,372,533.89 502,017,732.16
营业成本、销售费用及管理费用合计 5,747,630,199.84 4,013,566,671.40
40、税金及附加
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
营业税 - 68,549,177.40
城市维护建设税 10,696,176.49 8,619,423.99
教育费附加 6,768,443.21 5,235,435.41
房产税 86,626,484.22 -
其他 2,524,364.84 993,319.83
合计 106,615,468.76 83,397,356.63
111
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
41、财务费用
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
利息支出 297,470,093.36 329,075,288.26
减﹕已资本化的利息费用 - -
减﹕利息收入 120,393,846.73 115,813,629.52
汇兑差额 16,281,198.68 (6,915,815.01)
减﹕已资本化的汇兑差额 - -
其他 25,412,152.69 23,172,230.74
合计 218,769,598.00 229,518,074.47
42、资产减值损失
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
一、坏账损失 (2,397,157.98) 8,157,885.30
二、存货跌价损失(转回) 302,411.46 (43,431.60)
三、可供出售金融资产减值损失 - -
四、长期股权投资减值损失 - -
五、投资性房地产减值损失 - -
六、固定资产减值损失 4,544,950.79 -
七、在建工程减值损失 - -
八、无形资产减值损失 - -
九、商誉减值损失 - -
十、长期待摊费用减值损失 11,317,181.97 6,395,527.02
合计 13,767,386.24 14,509,980.72
43、投资收益
(1) 投资收益明细情况
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
权益法核算的长期股权投资收益 53,411,404.56 50,550,196.85
持有可供出售金融资产期间取得的投资收益 71,478,679.48 73,025,197.50
处置可供出售金融资产取得的投资收益 101,583,934.65 206,373,718.01
处置子公司的投资收益 33,507,766.71 -
其他 1,225,277.03 3,055,180.11
合计 261,207,062.43 333,004,292.47
112
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
43、投资收益 - 续
(2) 按权益法核算的长期股权投资收益
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
被投资单位 2017 年 6 月 30 日 2016 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
上海肯德基 56,616,425.56 45,812,247.38 因营业收入增加，本期盈利高于上期
新亚富丽华 3,699,099.74 2,879,467.78 因营业收入增加，本期盈利高于上期
新鹿餐饮 133,721.14 129,449.49 本期盈利与上期持平
上海齐程网络 (8,296,229.33) - 本期投资设立
上海吉野家 9,393.06 (294,939.10) 因营业收入上升，本年扭亏为盈
上海静安面包房有限公司(“静安
- (739,096.38) 长期股权投资成本已减记为零
面包房”)
新锦酒店管理 403,535.29 47,805.85 因营业收入增加，本期盈利高于上期
Keystone 之联营企业 (969,053.85) (1,392,520.73) 因营业收入上升，本期亏损低于上期
GDL 之联营企业 1,814,512.95 4,107,782.56 因成本费用增加，本期盈利低于上期
合计 53,411,404.56 50,550,196.85
(3) 持有可供出售金融资产期间取得的投资收益
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
被投资单位 2017 年 6 月 30 日 2016 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
杭州肯德基有限公司 38,964,078.50 29,157,567.86 宣告发放股利有所增加
长江证券股份有限公司 7,950,000.00 26,600,000.00 宣告发放股利有所减少
苏州肯德基有限公司 15,461,142.53 10,780,761.00 宣告发放股利有所增加
无锡肯德基有限公司 7,125,239.26 4,691,549.98 宣告发放股利有所增加
申万宏源证券股份有限公司 1,496,956.40 1,663,284.90 宣告发放股利有所减少
其他 481,262.79 132,033.76
合计 71,478,679.48 73,025,197.50
(4) 处置可供出售金融资产取得的投资收益
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
可供出售金融资产名称 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
长江证券(股票代码：000783)(注) 86,659,256.47 206,426,728.39
GDL 之可供出售金融资产(附注五(6)) 14,924,678.18 (53,010.38)
合计 101,583,934.65 206,373,718.01
注：本财务报告期内，本公司出售长江证券股票共计 10,000,000 股。
(5) 处置子公司取得的投资收益
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
长期股权投资名称 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
广州窝趣(附注(六)2) 28,807,020.50 -
MOTEL GRIL CAMPANILE
4,700,746.21 -
SETUBAL(“SETUBAL”)(附注(六)2)
合计 33,507,766.71 -
113
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
44、其他收益
(1) 其他收益明细：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
计入当期非经常性损益的金
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
额
止期间 止期间
政府补助 18,100,017.83 - 18,100,017.83
合计 18,100,017.83 - 18,100,017.83
(2) 计入当期损益的政府补助
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日 与资产相关/与收益相关
止期间 止期间
产业扶持资金 14,537,200.00 - 与收益相关
信息平台扶持基金 1,950,000.00 - 与资产相关
锅炉补贴摊销 8,000.64 - 与资产相关
新城饭店项目扶持基金 342,650.00 - 与资产相关
时尚之旅项目扶持基金 510,000.00 - 与资产相关
品牌创新项目补贴 752,167.19 - 与收益相关
合计 18,100,017.83 -
45、营业外收入
(1) 营业外收入明细：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
计入当期非经常性损益的金
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
额
止期间 止期间
非流动资产处置利得合计 3,127,579.88 10,884,656.02 3,127,579.88
政府补助 - 31,026,515.03 -
无需支付的赔偿款 1,579,112.74 21,760,917.30 1,579,112.74
无法支付的应付账款 793,917.68 3,154,911.13 793,917.68
对外索赔收入 2,119,624.31 1,302,366.89 2,119,624.31
其他 7,352,046.59 5,370,845.99 7,352,046.59
合计 14,972,281.20 73,500,212.36 14,972,281.20
(2) 计入当期损益的政府补助
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日 与资产相关/与收益相关
止期间 止期间
产业扶持资金 - 27,615,490.64 与收益相关
信息平台扶持基金 - 1,950,000.00 与资产相关
锅炉补贴摊销 - 8,000.00 与资产相关
其他政府补助 - 1,453,024.39 与收益相关
合计 - 31,026,515.03
114
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
46、营业外支出
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
计入当期非经常性损益的金
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
额
止期间 止期间
非流动资产处置损失合计 17,112,648.73 3,907,744.46 17,112,648.73
罚没支出 528,897.51 464,482.13 528,897.51
诉讼支出 6,000,000.00 3,257,425.78 6,000,000.00
其他 3,001,780.98 5,826,652.11 3,001,780.98
合计 26,643,327.22 13,456,304.48 26,643,327.22
47、所得税费用
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
按税法及相关规定计算的当期所得税 219,603,659.95 136,923,556.27
上期所得税汇算清缴调整 460,817.65 (465,937.78)
递延所得税 (196,902,687.69) (29,897,665.77)
企业增值税(注 1) (4,367,488.86) 10,285,122.94
合计 18,794,301.05 116,845,075.66
所得税费用与会计利润的调节表如下：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
利润总额 469,866,531.93 420,237,202.39
企业增值税抵扣(注 1) 4,367,488.86 (10,285,122.94)
按 25%的税率计算的所得税费用 118,558,505.20 102,488,019.86
非应税收入的影响 (35,770,267.22) (31,888,009.02)
不可抵扣的成本、费用和损失的影响 11,306,195.88 2,651,766.92
使用前期未确认递延所得税资产的可抵扣亏损的影响 (9,645,710.08) (87,875.60)
本期未确认递延所得税资产的可抵扣暂时性差异或可抵
40,096,281.52 35,047,147.23
扣亏损的影响
税率调整导致期初递延所得税资产/负债余额的变化(注
(111,688,518.33) -
2)
子公司适用不同税率的影响 9,844,485.29 4,090,956.47
调整以前期间所得税的影响及其他 460,817.65 (5,742,053.14)
企业增值税 (4,367,488.86) 10,285,122.94
所得税费用 18,794,301.05 116,845,075.66
注 1： 根据法国税法规定，企业增值税可以在所得税税前列支。
注 2： 根据法国相关财政法令，自 2019 年度开始，GDL 所适用的企业所得税税率将从 34.43%变更为
28.92%。因此本集团对相关递延所得税资产和递延所得税负债按照预期收回该资产或清偿该债务
期间的适用所得税税率进行重新计算，差异确认为所得税费用。
115
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
48、现金流量表项目注释
(1) 收到的其他与经营活动有关的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
政府补助及征收补偿 10,537,200.00 31,026,515.03
利息收入 80,713,256.80 26,843,594.03
代收款及其他 122,025,465.70 38,374,659.01
合计 213,275,922.50 96,244,768.07
(2) 支付的其他与经营活动有关的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
租赁费 858,939,690.17 598,325,815.67
销售费用及管理费用中的其他支付额 463,978,982.50 436,057,012.92
支付的银行手续费 25,461,220.87 22,098,284.83
其他 46,195,947.64 57,779,111.53
合计 1,394,575,841.18 1,114,260,224.95
(3) 收到的其他与投资活动有关的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
收到锦江之星苏州乐园店动迁款 45,000,000.00 -
(4) 支付其他与投资活动有关的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
股权收购定金及预付款 - 680,000,000.00
预计收回股权收购款 - 473,750,000.00
为股权收购项目支付的中介机构费用 6,353,619.89 35,696,851.30
合计 6,353,619.89 1,189,446,851.30
(5) 取得借款收到的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
从关联方融入的借款 4,052,550,000.00 6,000,000,000.00
从银行融入的借款 2,165,881,860.49 10,920,000,000.00
合计 6,218,431,860.49 16,920,000,000.00
116
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
48、现金流量表项目注释 - 续
(6) 收到其他与筹资活动有关的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
收回借款保证金 - 45,816,400.00
用于借款质押的定期存款利息收入 55,310,295.96 19,364,837.12
用于借款质押的定期存款到期收回 1,417,068,000.00 -
合计 1,472,378,295.96 65,181,237.12
(7) 偿还债务支付的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
偿还银行借款 7,657,456,566.03 612,341,287.62
偿还关联方借款 1,100,000,000.00 6,000,000,000.00
合计 8,757,456,566.03 6,612,341,287.62
(8) 支付其他与筹资活动有关的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
支付 GDL 子公司少数股东撤资款项 3,236,256.60 -
支付融资租赁费 5,371,394.21 5,495,020.98
合计 8,607,650.81 5,495,020.98
117
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
49、现金流量表补充资料
(1) 现金流量表补充资料
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
补充资料 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
1．将净利润调节为经营活动现金流量：
净利润 451,072,230.88 303,392,126.73
加：计提的资产减值准备 13,767,386.24 14,509,980.72
固定资产折旧 364,937,645.71 290,898,809.99
无形资产摊销 101,106,336.28 61,993,409.56
长期待摊费用摊销 303,095,708.84 218,966,270.70
处置固定资产、无形资产和其他长期资产的损失(收
13,985,068.85 (6,976,911.56)
益)
财务费用 213,802,749.44 238,633,455.01
投资损失(收益) (261,207,062.43) (333,004,292.47)
递延所得税资产减少(增加) (32,596,856.91) 8,413,675.59
递延所得税负债增加(减少) (164,305,830.78) (38,311,341.36)
存货的减少 7,296,916.22 9,969,781.87
经营性应收项目的减少(增加) (123,061,366.45) (116,216,413.54)
经营性应付项目的增加(减少) 509,318,309.63 110,293,293.15
经营活动产生的现金流量净额 1,397,211,235.52 762,561,844.39
2．不涉及现金收支的重大投资和筹资活动：
债务转为资本 - -
半年内到期的可转换公司债券 - -
融资租入固定资产 - -
3．现金及现金等价物净变动情况：
现金的期末余额 5,239,039,725.54 6,042,467,381.85
减：现金的期初余额 6,358,092,062.93 3,797,129,642.55
加：现金等价物的期末余额 - -
减：现金等价物的期初余额 - -
现金及现金等价物净增加(减少)额 (1,119,052,337.39) 2,245,337,739.30
(2) 本期支付的取得子公司的现金净额
人民币元
金额
本期发生的企业合并于本年支付的现金或现金等价物
-Sarovar 247,240,936.40
减：购买日子公司持有的现金及现金等价物
-Sarovar 6,402,826.81
加：以前期间发生的企业合并于本期支付的现金或现金等价物
-Nordic 2,944,764.50
-维也纳酒店及百岁村餐饮 174,960,000.00
取得子公司支付的现金净额 418,742,874.09
118
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
49、现金流量表补充资料 - 续
(3) 本期收到的处置子公司的现金净额
人民币元
金额
本期处置子公司于本期收到的现金或现金等价物
-广州窝趣 12,000,000.00
减：丧失控制权日子公司持有的现金及现金等价物
-广州窝趣 11,274,098.80
处置子公司收到的现金净额 725,901.20
(4) 本期支付的处置子公司的现金净额
人民币元
金额
本期处置子公司于本期收到的现金或现金等价物
- SETUBAL -
减：丧失控制权日子公司持有的现金及现金等价物
- SETUBAL 689,279.31
处置子公司支付的现金净额 689,279.31
(5) 现金和现金等价物的构成
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
一、现金 5,239,039,725.54 6,358,092,062.93
其中：库存现金 13,132,461.29 16,406,368.21
可随时用于支付的银行存款 5,225,907,264.25 6,341,685,694.72
可随时用于支付的其他货币资金 - -
二、现金等价物 - -
三、期末现金及现金等价物余额 5,239,039,725.54 6,358,092,062.93
50、所有权或使用权受到限制的资产
人民币元
项目 期末账面价值 受限原因
货币资金(附注(五)31) 3,642,515.06 诉讼冻结
货币资金(附注(五)28(注 1)) 3,306,492,000.00 质押
货币资金(附注(五)1(注 1)) 3,477,708.89 合同约定受限
海路投资净资产(附注(五)28(注 1)) 901,345,621.58 质押
(附注(五)11(3)) 1)) 2,785,508,807.34 质押
固定资产(附注(五)11(4)) 178,794,604.83 抵押
固定资产(附注(五)11(3)) 161,237,057.46 未办妥产权证书
合计 7,340,498,315.16
119
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
51、现金流量套期
本集团采用利率互换合同以降低以浮动利率计息的融资租赁款的现金流量风险敞口，即将部分融资租赁
款的浮动利率转换成固定利率。于 2017 年 1 月 1 日至 2017 年 6 月 30 日止期间，本集团将购入的利率互
换合同指定为套期工具，这些利率互换合同与相应的融资租赁条款相同，本集团管理层认为这些利率互
换合同是高度有效的套期工具，并采用比率分析法评价套期有效性。
本集团所签订的利率互换合同的条款与预期交易的条款吻合，主要内容如下：
人民币千元
2017 年 1 月 1 日至
2017 年 6 月 30 日止期间 名义金额 到期日 利率互换条款
利率互换 121,459.48 2025 年 6 月 28 日 Euribor3M+2.56%转换为 1.40%的固定利率
52、基本每股收益和稀释每股收益的计算过程
计算基本每股收益时，归属于普通股股东的当期净利润为：
人民币元
本期发生额 上期发生额
归属于普通股股东的当期净利润 412,453,689.41 299,157,333.01
其中：归属于持续经营的净利润 412,453,689.41 299,157,333.01
计算基本每股收益时，分母为发行在外普通股加权平均数，计算过程如下：
人民币元
本期发生额 上期发生额
期初发行在外的普通股股数 957,936,440.00 804,517,740.00
加：本期发行的普通股加权数 - -
期末发行在外的普通股加权数 957,936,440.00 804,517,740.00
每股收益
人民币元
本期发生额 上期发生额
按归属于母公司股东的净利润计算：
基本每股收益 0.4306 0.3718
稀释每股收益(注) 不适用 不适用
按归属于母公司股东的持续经营净利润计算：
基本每股收益 0.4306 0.3718
稀释每股收益(注) 不适用 不适用
注：本集团无稀释性普通股。
120
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(六) 合并范围的变更
1、非同一控制下企业合并
(1) 本期发生的非同一控制下企业合并
Sarovar
于 2016 年 12 月 15 日，本集团下属子公司 GDL 与 Sarovar 原股东签署了关于收购 Sarovar 74%股权的股
权转让协议，购买价款为 3,316.40 万欧元，折合人民币 247,240,936.40 元。于 2017 年 1 月 12 日，上述
股权交割完成。
人民币元
股权取 购买日至期末
股权取 购买日的 购买日至期末
被购买方名称 股权取得时点 股权取得成本 得比例 购买日 被购买方的
得方式 确定依据 被购买方的收入
(%) 净利润
取得被购买方控
2017 年 支付 2017 年
Sarovar 247,240,936.40 74.00 制权的股权交割 46,668,375.38 5,886,801.29
1 月 12 日 现金 1 月 12 日
日
(2) 合并成本及商誉
人民币元
Sarovar
(3) 被
合并成本 247,240,936.40
购
减：取得的可辨认净资产公允价值份额 64,312,853.82
商誉买 182,928,082.58
方
于购买日可辨认资产、负债
人民币元
Sarovar(注)
购买日公允价值 购买日账面价值
资产：
货币资金 6,402,826.81 6,402,826.81
除货币资金外的其他流动资产 61,385,136.68 61,385,136.68
固定资产 60,818,887.51 60,818,887.51
在建工程 1,154,996.42 1,154,996.42
除固定资产、在建工程外的其他非流动资产 5,133,051.38 5,133,051.38
资产小计 134,894,898.80 134,894,898.80
负债：
流动负债 42,537,648.50 42,537,648.50
非流动负债 5,447,988.38 5,447,988.38
负债小计 47,985,636.88 47,985,636.88
净资产 86,909,261.92 86,909,261.92
减：少数股东权益 22,596,408.10 22,596,408.10
取得的净资产 64,312,853.82 64,312,853.82
注： Sarovar 可辨认净资产不存在活跃市场，为确定其公允价值，本集团聘请了独立评估师对 Sarovar
可辨认净资产公允价值进行评估。至本财务报表报出日，相关评估工作尚未全部结束，本集团管
理层认为 Sarovar 可辨认净资产的公允价值与账面价值接近，因此根据账面价值确认可辨认净资产
的公允价值，并将按照最终评估结果进行调整。本集团确认的商誉金额也将进行相应的调整。
121
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(六) 合并范围的变更 - 续
2、处置子公司
(1) 单次处置对子公司投资即丧失控制权的情形
处置价款与处置投 丧失控
按照公允价值
丧失控制权 资对应的合并财务 制权之 丧失控制权之 丧失控制权之
股权处置 股权处置 丧失控制权的 重新计量剩余
子公司名称 股权处置价款 时点的确定 报表层面享有该子 日剩余 日剩余股权的 日剩余股权的
比例(%) 方式 时点 股权产生的利
依据 公司净资产份额的 股权的 账面价值 公允价值
得或损失
差额 比例(%)
失去子公司
收取 2017 年 6 月 30
广州窝趣 12,000,000.00 16.40 控制权的股 9,842,398.67 31.60 4,157,329.39 23,121,951.22 18,964,621.83
现金 日
权交割日
失去子公司
收取 2017 年 6 月 30
SETUBAL 7,362,197.50 100.00 控制权的股 4,700,746.21 0.00 - - -
现金 日
权交割日
广州窝趣
本财务报告期间内，本集团下属子公司 Keystone 以人民币 1,200 万元为对价处置广州窝趣 16.40%股权，
持股比例相应下降为 31.60%。处置广州窝趣使得本集团少数股东权益减少人民币 10,672,845.54 元。
SETUBAL
本财务报告期间内，本集团下属子公司 GDL 处置 SETUBAL100%股权，处置对价折合人民币 7,362,197.50
元。截止本财务报告期末，上述对价尚未收回。
(七) 在其他主体中的权益
1、在子公司中的权益
(1) 企业集团的主要子公司
主要经营地 持股比例(%)
序号 子公司名称 业务性质 取得方式
及注册地 直接 间接
1 餐饮投资 中国 服务 100.00 - 通过设立或投资等方式取得
2 旅馆投资 中国 服务 100.00 - 同一控制下企业合并
3 锦江之星 中国 服务 100.00 - 同一控制下企业合并
4 上海锦卢投资管理有限公司(“锦卢投资”) 中国 服务 100.00 - 通过设立或投资等方式取得
5 时尚之旅 中国 服务 100.00 - 非同一控制下企业合并
6 上海饮食服务成套设备公司(“成套设备”) 中国 贸易 100.00 - 通过设立或投资等方式取得
7 上海锦江卢浮亚洲酒店管理有限公司("卢浮亚洲")(注 11) 中国 服务 100.00 - 通过设立或投资等方式取得
8 上海锦盘酒店有限公司(“锦盘酒店”) 中国 服务 100.00 - 通过设立或投资等方式取得
9 上海锦江达华宾馆有限公司("达华宾馆") 中国 服务 100.00 - 同一控制下企业合并
10 上海闵行饭店有限公司(“闵行饭店”) 中国 服务 98.25 1.75 通过设立或投资等方式取得
11 上海锦江国际食品餐饮管理有限公司(“锦江食品”)(注 1) 中国 服务 18.00 82.00 通过设立或投资等方式取得
12 上海新亚食品有限公司(“新亚食品”)(注 1) 中国 生产 5.00 95.00 通过设立或投资等方式取得
13 上海新亚食品销售有限公司(注 2) 中国 贸易 - 100.00 通过设立或投资等方式取得
14 上海锦江同乐餐饮管理有限公司(“同乐餐饮")(注 1) 中国 服务 - 51.00 通过设立或投资等方式取得
15 上海锦箸餐饮管理有限公司("锦箸餐饮") (注 1) 中国 服务 - 100.00 通过设立或投资等方式取得
16 上海锦亚餐饮管理有限公司("锦亚餐饮")(注 1) 中国 服务 - 100.00 非同一控制下企业合并
17 上海锦祁酒店管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
18 上海锦北投资管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
19 上海锦真投资管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
20 沈阳锦富酒店投资管理有限公司(注 3) 中国 服务 - 55.00 通过设立或投资等方式取得
21 西安锦湖旅馆管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
22 上海锦张酒店管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
23 嘉兴锦湖酒店管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
24 西安锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
25 郑州锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
26 天津锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
27 天津河东区锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
28 沈阳松花江街锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
29 舟山沈家门锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
30 天津锦津旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
31 上海锦浦投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
32 南京沪锦旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
33 昆山锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
34 常州锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
35 西安锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
36 长春锦江之星旅管有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
37 长春锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
122
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
1、在子公司中的权益 - 续
(1) 企业集团的主要子公司 - 续
主要经营地 持股比例(%)
序号 子公司名称 业务性质 取得方式
及注册地 直接 间接
38 镇江京口锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
39 武汉锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
40 金华锦旅锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
41 深圳锦旅酒店管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
42 沈阳文化路锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
43 福州锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
44 常州锦宁旅馆投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
45 马鞍山锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
46 合肥锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
47 呼和浩特市锦旅投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
48 昆明沪锦酒店有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
49 常州锦江之星投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
50 西宁锦旅酒店投资管理有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
51 青岛锦江之星旅馆有限公司(注 3) 中国 服务 - 100.00 同一控制下企业合并
52 金广快捷(注 3) 中国 服务 - 100.00 同一控制下企业合并
53 上海锦乐旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
54 宁波锦波旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
55 苏州新区锦狮旅馆有限公司(注 4) 中国 服务 - 60.00 同一控制下企业合并
56 上海锦宏旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
57 无锡锦锡旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
58 北京锦江之星旅馆投资管理有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
59 上海锦海旅馆有限公司(注 4) 中国 服务 - 70.00 同一控制下企业合并
60 上海锦花旅馆有限公司(注 4) 中国 服务 - 80.00 同一控制下企业合并
61 扬州锦扬旅馆有限公司(注 4) 中国 服务 - 75.00 同一控制下企业合并
62 上海滴水湖锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
63 淮安锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
64 上海锦亚旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
65 杭州锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
66 重庆锦江之星旅馆投资有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
67 成都锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
68 上海锦宁旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
69 上海锦闵旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
70 南昌孺子路锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
71 南昌南京西路锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
72 沈阳锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
73 嘉兴锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
74 南宁锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
75 上海临青宾馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
76 上海锦奉旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
77 天津沪锦旅馆投资有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
78 拉萨锦江之星旅馆有限公司(注 4) 中国 服务 - 100.00 同一控制下企业合并
79 上海豫锦酒店管理有限公司(注 4) 中国 服务 - 60.00 同一控制下企业合并
80 都之华(注 4) 中国 服务 - 100.00 非同一控制下企业合并
81 庐山锦江国际旅馆投资有限公司(注 3) 中国 服务 - 60.00 通过设立或投资等方式取得
82 伊犁锦旅酒店管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
83 上海锦苋酒店管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
84 杭州锦澈投资管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
85 天津锦台酒店管理有限公司(注 3) 中国 服务 - 100.00 通过设立或投资等方式取得
86 上海锦江股份(香港)有限公司(注 5) 香港 投资 - 100.00 通过设立或投资等方式取得
87 海路投资(注 5) 卢森堡 投资 - 100.00 通过设立或投资等方式取得
88 GDL(注 5) 法国 投资控股 - 100.00 非同一控制下企业合并
89 Louvre Htels Group(注 5、6) 法国 投资控股 - 100.00 非同一控制下企业合并
90 Keystone(注 7) 中国 服务 81.0034 - 非同一控制下企业合并
91 七天酒店(深圳)有限公司(注 8) 中国 服务 - 81.0034 非同一控制下企业合并
92 七天四季酒店(广州)有限公司(注 8) 中国 服务 - 81.0034 非同一控制下企业合并
93 Plateno Investment Limited(注 8) 开曼群岛 投资 - 81.0034 非同一控制下企业合并
94 Plateno Group Limited(注 8) 开曼群岛 投资 - 81.0034 非同一控制下企业合并
95 7 Days Group Holdings Limited(注 8) 开曼群岛 投资 - 81.0034 非同一控制下企业合并
96 维也纳酒店(注 9) 中国 服务 80.00 - 非同一控制下企业合并
97 百岁村餐饮(注 10) 中国 服务 80.00 - 非同一控制下企业合并
123
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
1、在子公司中的权益 - 续
(1) 企业集团的主要子公司 - 续
注 1：系餐饮投资下属子公司。
注 2：系新亚食品下属子公司。
注 3：系旅馆投资下属子公司。
注 4：系锦江之星下属子公司。
注 5：系锦卢投资下属子公司。
注 6：Louvre Htels Group 下属子公司合计 363 家，其中全资子公司 319 家。按注册地划分，有 286 家注
册于法国、14 家注册于波兰、14 家注册于荷兰、12 家注册于英国、11 家注册于德国、8 家注册于
西班牙、其余 18 家注册于其他国家。
注 7：Keystone 下属子公司合计 130 家，其中全资子公司 91 家。按注册地划分，有 87 家注册于中国大
陆境内、有 43 家注册于中国大陆境外。
注 8：系 Keystone 下属子公司。
注 9：维也纳酒店下属子公司合计 27 家，均为全资子公司。
注 10：百岁村餐饮下属子公司合计 2 家，均为全资子公司。
注 11：原锦江都城酒店管理有限公司，本财务报告期间内更名为卢浮亚洲。
(2) 重要的非全资子公司
少数股东持股 本期归属于 本期向少数股东 期末少数股东
子公司名称
比例(%) 少数股东的损益 宣告分派的股利 权益余额
上海豫锦酒店管理有限公司 40.00 643,195.06 - 10,765,282.87
苏州新区锦狮旅馆有限公司 40.00 463,953.82 800,000.00 5,826,875.48
庐山锦江国际旅馆投资有限公司 40.00 (739,181.65) - 6,778,033.63
上海锦花旅馆有限公司 20.00 763,977.72 800,000.00 5,464,248.15
沈阳锦富酒店投资管理有限公司 45.00 (807,047.99) - 5,216,242.67
Gerestel Rodez Nancy Aurillac 34.00 (24,757.95) - 8,390,270.03
Gestion Hotel Cahors Vitrolles 44.50 (561,001.22) - 6,673,547.02
SCI Chasse 35.00 224,188.24 - 6,751,971.19
Gestion Htel de St Quentin en Yvelines 13.00 470,912.73 - 6,862,442.97
Keystone 18.9966 19,045,887.37 - 653,246,611.99
维也纳酒店 20.00 18,970,515.83 154,152,268.49
百岁村餐饮 20.00 (798,722.70) - 1,244,114.23
124
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
1、在子公司中的权益 - 续
(3) 重要的非全资子公司的重要财务信息
人民币元
2017年6月30日 2016年12月31日
子公司名称
流动资产 非流动资产 资产合计 流动负债 非流动负债 负债合计 流动资产 非流动资产 资产合计 流动负债 非流动负债 负债合计
上海豫锦酒店管理有限公司 22,630,035.34 8,452,360.07 31,082,395.41 4,169,188.15 - 4,169,188.15 19,830,954.00 9,108,122.96 28,939,076.96 3,633,857.36 - 3,633,857.36
苏州新区锦狮旅馆有限公司 51,091,561.90 9,644,952.86 60,736,514.76 1,169,326.10 45,000,000.00 46,169,326.10 6,852,222.30 10,082,166.07 16,934,388.37 1,527,084.23 - 1,527,084.23
庐山锦江国际旅馆投资有限公司 2,449,257.68 24,761,048.74 27,210,306.42 10,265,222.35 - 10,265,222.35 3,491,066.57 25,512,314.39 29,003,380.96 10,213,650.04 - 10,213,650.04
上海锦花旅馆有限公司 8,270,104.93 26,401,981.49 34,672,086.42 7,350,845.66 - 7,350,845.66 3,175,035.32 27,218,044.16 30,393,079.48 2,891,559.13 - 2,891,559.13
沈阳锦富酒店投资管理有限公司 10,530,198.12 32,543,027.02 43,073,225.14 31,481,574.76 - 31,481,574.76 6,900,342.11 33,960,313.43 40,860,655.54 17,469,778.96 10,000,000.00 27,469,778.96
Gerestel Rodez Nancy Aurillac 17,440,974.57 15,666,838.37 33,107,812.94 4,616,739.40 3,808,892.80 8,425,632.20 16,128,506.50 14,986,353.40 31,114,859.90 4,133,390.05 3,589,619.61 7,723,009.66
Gestion Hotel Cahors Vitrolles 6,446,598.49 17,633,203.68 24,079,802.17 5,983,199.93 3,080,390.21 9,063,590.14 6,058,035.66 16,878,160.06 22,936,195.72 4,571,183.99 2,984,418.92 7,555,602.91
SCI Chasse 22,945,388.84 1,148,591.05 24,093,979.89 4,525,805.88 277,076.86 4,802,882.74 20,982,956.56 1,113,544.77 22,096,501.33 4,206,084.31 266,850.92 4,472,935.23
Gestion Htel de St Quentin en
19,509,542.26 81,247,418.67 100,756,960.93 4,939,307.43 43,028,989.44 47,968,296.87 13,848,668.72 77,765,335.88 91,614,004.60 4,372,170.65 40,782,943.40 45,155,114.05
Yvelines
Keystone 2,268,984,299.86 4,865,310,112.66 7,134,294,412.52 1,854,079,618.21 1,816,058,124.35 3,670,137,742.56 2,055,948,185.32 5,010,572,586.94 7,066,520,772.26 2,700,573,678.32 1,005,635,373.15 3,706,209,051.47
维也纳酒店 964,796,062.66 680,260,238.17 1,645,056,300.83 863,971,980.73 10,322,977.64 874,294,958.37 821,714,165.25 640,334,297.08 1,462,048,462.33 777,070,740.98 9,068,958.06 786,139,699.04
百岁村餐饮 34,048,884.58 27,615,835.53 61,664,720.11 55,444,148.96 - 55,444,148.96 44,524,543.69 24,839,037.81 69,363,581.50 59,149,396.87 - 59,149,396.87
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间 2016 年 1 月 1 日至 2016 年 6 月 30 日止期间
子公司名称 经营活动 经营活动
营业收入 净利润 综合收益总额 营业收入 净利润 综合收益总额
现金流量 现金流量
上海豫锦酒店管理有限公司 9,003,920.38 1,607,987.66 1,607,987.66 (4,539,692.05) 9,156,129.54 1,606,450.27 1,606,450.27 (24,542,466.06)
苏州新区锦狮旅馆有限公司 4,096,914.77 1,159,884.56 1,159,884.56 46,141,471.28 4,355,211.91 1,206,951.68 1,206,951.68 (4,118,917.32)
庐山锦江国际旅馆投资有限公司 1,628,023.48 (1,847,954.13) (1,847,954.13) 1,258,572.90 157,530.04 (732,999.08) (732,999.08) (791,304.37)
上海锦花旅馆有限公司 15,275,921.18 3,819,888.62 3,819,888.62 3,918,778.76 15,855,927.78 3,595,671.70 3,595,671.70 4,297,660.14
沈阳锦富酒店投资管理有限公司 5,733,862.38 (1,793,439.96) (1,793,439.96) 6,673,432.07 2,066,230.09 (1,055,503.45) (1,055,503.45) 1,162,100.94
Gerestel Rodez Nancy Aurillac 7,652,081.44 (72,817.51) (72,817.51) 634,709.59 6,497,980.92 360,709.17 360,709.17 (610,432.14)
Gestion Hotel Cahors Vitrolles 9,149,391.48 (1,260,676.89) (1,260,676.89) 638,276.18 8,961,274.75 1,070,739.69 1,070,739.69 (1,120,250.13)
SCI Chasse 723,679.73 640,526.83 640,526.83 80.88 - - - -
Gestion Htel de St Quentin en Yvelines 12,577,727.61 3,622,405.63 3,622,405.63 1,167,359.38 39,002,505.36 9,758,380.80 9,758,380.80 (4,665,643.41)
Keystone 1,838,552,793.10 112,130,093.58 115,143,026.64 484,618,601.32 1,202,678,320.17 41,428,780.28 69,510,925.26 305,603,099.49
维也纳酒店 1,026,987,083.39 94,852,579.17 94,852,579.17 277,317,365.80 - - - -
百岁村餐饮 147,741,902.60 (3,993,613.48) (3,993,613.48) (1,472,802.09) - - - -
125
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
2、在子公司所有者权益份额发生变化且仍控制子公司的交易
本财务报告期间内，本集团下属子公司 Gestion htel Nanterre Paris 92 及 Gestion Htels Nancy Essey Maubeuge 少数股东撤资，撤资后成为本集团全资子公司。上述
撤资减少少数股东权益折合人民币 3,236,256.60 元。
3、在联营企业中的权益
(1) 重要的联营企业
持股比例(%) 对联营企业投资的
联营企业名称 主要经营地 注册地 业务性质
直接 间接 会计处理方法
上海肯德基 中国 上海市杨浦区双辽路 768 号 生产肯德基快餐 42 - 以权益法核算
新亚富丽华 中国 上海市淮海中路 808 号 餐饮业、厨房设备、日用化学品等 41 - 以权益法核算
中国(上海)自由贸易试验区罗
齐程网络 中国 网络科技信息技术 10 - 以权益法核算
山路 1502 弄 14 号
126
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
3、在联营企业中的权益 - 续
(2) 重要联营企业的主要财务信息
人民币元
2017 年 6 月 30 日/2017 年 1 月 1 日至 2017 年 6 月 30 日止 2016 年 6 月 30 日/2016 年 1 月 1 日至 2016
期间 年 6 月 30 日止期间
上海肯德基 新亚富丽华 齐程网络 上海肯德基 新亚富丽华
流动资产 101,581,764.13 85,943,648.82 385,523,524.22 265,964,260.06 75,373,840.36
其中：现金和现金等价物 91,063,046.06 68,677,116.78 338,665,746.46 87,146,459.46 62,378,015.81
非流动资产 482,979,282.57 32,621,844.36 604,581,596.68 504,969,374.79 31,576,705.21
资产合计 584,561,046.70 118,565,493.18 990,105,120.90 770,933,634.85 106,950,545.57
流动负债 156,519,110.67 45,238,163.18 204,668,250.00 376,585,840.60 40,964,558.56
非流动负债 55,247,569.78 1,836,902.50 214,410,848.02 41,917,924.80 1,292,267.50
负债合计 211,766,680.45 47,075,065.68 419,079,098.02 418,503,765.40 42,256,826.06
少数股东权益 - - - - -
归属于母公司股东权益 372,794,366.25 71,490,427.50 571,026,022.88 352,429,869.45 64,693,719.51
按持股比例计算的净资产
156,573,633.83 29,311,075.28 57,102,602.29 148,020,545.17 26,524,425.00
份额
对联营企业权益投资的账
156,573,633.90 29,311,075.26 57,102,602.29 148,020,545.23 26,524,424.99
面价值
营业收入 1,513,232,647.17 131,527,585.61 3,650,479.20 1,469,067,642.84 123,578,048.09
财务费用 (2,308,277.87) 370,210.96 (841,437.82) (1,341,301.81) 411,590.19
所得税费用 45,609,444.01 3,007,398.17 - 35,814,087.55 2,341,030.73
净利润 134,821,804.56 9,022,194.17 (82,962,293.32) 109,076,779.48 7,023,092.14
其他综合收益 - - - - -
综合收益总额 134,821,804.56 9,022,194.17 (82,962,293.32) 109,076,779.48 7,023,092.14
本期收到的来自联营企业
87,297,483.35 4,592,000.00 - - 4,305,000.00
的股利
(3) 不重要的联营企业的汇总财务信息
人民币元
2017 年 6 月 30 日/2017 年 1 2016 年 6 月 30 日/2016 年 1
月 1 日至 2017 年 6 月 30 日止 月 1 日至 2016 年 6 月 30 日止
期间 期间
联营企业
投资账面价值合计 145,561,323.68 125,301,780.34
下列各项按持股比例计算的合计数
--净利润及综合收益总额 1,392,108.59 1,858,481.69
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上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(八) 与金融工具相关的风险
本集团的主要金融工具包括货币资金、应收款项、衍生金融负债、应付款项、可供出售金融资产、借款、
长期应付款等，各项金融工具的详细情况说明详见附注(五)。与这些金融工具有关的风险，以及本集团
为降低这些风险所采取的风险管理政策如下所述。本集团管理层对这些风险敞口进行管理和监控以确保
将上述风险控制在限定的范围之内。
本集团采用敏感性分析技术分析风险变量的合理、可能变化对当期损益或股东权益可能产生的影响。由
于任何风险变量很少孤立的发生变化，而变量之间存在的相关性对某一风险变量的变化的最终影响金额
将产生重大作用，因此下述内容是在假设每一变量的变化是独立的情况下进行的。
1、风险管理目标和政策
本集团从事风险管理的目标是在风险和收益之间取得适当的平衡，将风险对本集团经营业绩的负面
影响降低到最低水平，使股东及其他权益投资者的利益最大化。基于该风险管理目标，本集团风险
管理的基本策略是确定和分析本集团所面临的各种风险，建立适当的风险承受底线和进行风险管理，
并及时可靠地对各种风险进行监督，将风险控制在限定的范围之内。
1.1 市场风险
1.1.1.外汇风险
外汇风险，是指金融工具的公允价值或未来现金流量因外汇汇率变动而发生波动的风险。本公司及中国
大陆境内子公司主要在中国大陆境内经营业务，主要业务活动以人民币计价结算，故大部分交易、资产
和负债以人民币为单位。于 2017 年 6 月 30 日，本公司及中国大陆境内子公司的外币余额主要集中在部
分货币资金，本公司及境内子公司承受外汇风险主要与美元有关。本公司及境内子公司密切关注汇率变
动对集团外汇风险的影响，但由于外币结算业务非常有限，本公司及境内子公司认为目前的外汇风险对
于集团的经营影响不重大。
本集团中国大陆境外子公司 GDL 主要在欧洲经营业务，主要业务活动以欧元计价结算，故大部分交易、
资产和负债以欧元为单位。于 2017 年 6 月 30 日，GDL 的外币余额主要集中在部分货币资金，承受外汇
风险主要与英镑及波兰兹罗提有关。GDL 密切关注汇率变动对集团外汇风险的影响，但由于外币结算业
务非常有限，GDL 认为目前的外汇风险对于 GDL 的经营影响不重大。
1.1.2.利率风险
本集团与现金流量变动有关的利率风险主要与浮动利率借款及应付融资租赁款(附注五(29))有关。本集团
的政策是保持这些借款的浮动利率，以消除利率的公允价值变动风险。
利率风险敏感性分析
利率风险敏感性分析基于下述假设：
市场利率变化影响可变利率金融工具的利息收入或费用；
以资产负债表日市场利率采用现金流量折现法计算衍生金融工具及其他金融资产和负债的公允价值
变化。
128
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(八) 与金融工具相关的风险 - 续
1、风险管理目标和政策 - 续
1.1 市场风险 - 续
1.1.2.利率风险 - 续
利率风险敏感性分析 - 续
在上述假设的基础上，在其他变量不变的情况下，利率可能发生的合理变动对 2017 年 1 月 1 日至 2017
年 6 月 30 日止期间及 2016 年 1 月 1 日至 2016 年 6 月 30 日止期间损益和所有者权益的影响如下：
人民币千元
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间/ 2016 年 1 月 1 日至 2016 年 6 月 30 日止期间/
利率变动 2017 年 6 月 30 日 2016 年 6 月 30 日
对税前利润的影响 对股东权益的影响 对税前利润的影响 对股东权益的影响
上升 25 个基点 (38,707) (27,519) (40,331) (28,415)
下降 25 个基点 38,707 27,519 40,331 28,415
1.1.3.其他价格风险
其他价格风险，是指外汇风险和利率风险以外的市场风险。本集团面临的主要其他价格风险包括可供出
售权益工具的公允价值因证券价值的变化而波动的风险。于 2017 年 6 月 30 日，本集团的可供出售权益
工具详见附注(五)9。这些以公允价值计价的资产的其他价格风险可能对本集团的经营业绩和股东权益产
生影响。本集团密切关注证券价格变动对本集团的影响。本集团对证券价值风险进行了如下敏感性分析，
本集团认为目前的证券价值风险对于本集团的经营影响重大。
本集团因持有以公允价值计量的金融资产而面临价格风险。于 2017 年 6 月 30 日，在其他变量不变的情
况下，根据证券价值可能发生的合理变动，有关权益工具价格上升(下降)10%，将会导致集团股东权益增
加(减少)人民币 98,837,215.52 元。
1.2 信用风险
于 2017 年 6 月 30 日，可能引起本集团财务损失的最大信用风险敞口主要来自于合同另一方未能履行义
务而导致本集团金融资产产生的损失以及本集团承担的财务担保，具体包括：
合并资产负债表中已确认的金融资产的账面金额；对于以公允价值计量的金融工具而言，账面价值
反映了其风险敞口，但并非最大风险敞口，其最大风险敞口将随着未来公允价值的变化而改变。
为降低信用风险，本集团控制信用额度、进行信用审批，并执行其他监控程序以确保采取必要的措施回
收过期债权。此外，本集团于每个资产负债表日审核每一单项应收款的回收情况，以确保对无法回收的
款项计提充分的坏账准备。
本集团关注集中信用风险的控制，采取必要措施避免债权过度集中。于 2017 年 6 月 30 日，本集团并未
面临重大信用集中风险。
本集团的流动资金存放在信用评级较高的银行及财务公司，故流动资金的信用风险较低。
129
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(八) 与金融工具相关的风险 - 续
1、风险管理目标和政策 - 续
1.3 流动风险
流动风险是指企业在履行与金融负债有关的义务时遇到资金短缺的风险。管理流动风险时，本集团保持
管理层认为充分的现金及现金等价物并对其进行监控，以满足本集团经营需要，并降低现金流量波动的
影响。本集团管理层对银行借款的使用情况进行监控并确保遵守借款协议。
本财务报告期末，本集团流动负债合计金额超过流动资产合计金额为人民币 1,333,252,663.16 元。本集
团已采取以下措施来降低流动风险：
本集团之最终控股股东锦江国际同意在可预见将来款项到期偿还时提供一切必须之财务支援，以
维持本集团的继续经营。
2017 年 6 月 30 日至财务报表报出日止期间，本集团已经偿还到期的借款人民币 1,910,000,000.00
元，无新增借款人民币。
综上所述，本集团管理层认为本集团所承担的流动风险已经大为降低，对本集团的经营和财务报表不构
成重大影响。
本集团持有的金融负债按未折现剩余合同义务的到期期限分析如下：
1 年以内 1 年至 5 年 5 年以上 合计
非衍生金融负债：
短期借款 982,969,825.36 - - 982,969,825.36
应付账款 1,956,484,199.43 - - 1,956,484,199.43
应付股利 2,196,167.45 - - 2,196,167.45
其他应付款 1,196,677,875.80 - - 1,196,677,875.80
长期应付款及一年内到期的非流动负债 11,222,842.86 46,599,079.64 156,306,795.03 214,128,717.53
长期借款及一年内到期的非流动负债 6,694,075,044.57 13,658,379,318.85 161,967,849.30 20,514,422,212.72
上表系根据本集团金融负债可能的最早偿还日的未折现现金流编制，表中同时考虑了本金和利息的现金
流。如果利息流量是基于浮动利率，则未折现金额由报告期末的利率产生，合同到期日基于本集团可能
被要求偿付的最早日。
2、资本管理
本集团通过优化负债与股东权益的结构来管理资本，以确保集团内的主体能够持续经营，并同时最大限
度地增加股东回报。2017 年 1 月 1 日至 2017 年 6 月 30 日止期间本集团的整体策略维持不变。
本集团的资本结构由本集团的净债务和股东权益组成。
本集团并未受制于外部强制性资本管理要求。本集团的管理层定期复核本集团的资本结构。
130
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(九) 公允价值的披露
1、以公允价值计量的资产和负债的期末公允价值
人民币元
2017 年 6 月 30 日公允价值
第一层次 第二层次 第三层次
合计
公允价值计量 公允价值计量 公允价值计量
持续的公允价值计量
可供出售金融资产 593,920,449.75 - 542,931,817.86 1,136,852,267.61
持续以公允价值计量的资产总额 593,920,449.75 - 542,931,817.86 1,136,852,267.61
交易性金融负债 - - - -
其中：衍生金融负债 - 5,175,221.63 - 5,175,221.63
持续以公允价值计量的负债总额 - 5,175,221.63 - 5,175,221.63
2、持续和非持续第一层次公允价值计量项目市价的确定依据
本财务报告期末公允价值参照上海证券交易所和深圳证券交易所上市股票于 2017 年 6 月 30 日之
收盘价确定。
3、持续第二层次公允价值计量项目，采用的估值技术和重要参数的信息
2017 年 6 月 30 日的公允价值 估值技术 输入值
衍生金融负债 5,175,221.63 现金流量折现法 折现率及远期利率
4、持续第三层次公允价值计量项目，采用的估值技术和重要参数的定性及定量信息
2017 年 6 月 30 日的
估值技术 输入值 加权平均值
公允价值
可供出售金融资产 542,931,817.86 上市公司比较法 流动性折价 20%
5、不以公允价值计量的金融资产与金融负债的公允价值信息
本集团流动资产及流动负债中不以公允价值计量的金融资产与金融负债的账面价值接近公允价
值。
131
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十) 关联方及关联交易
1、本公司的控股公司情况
母公司对本 母公司对本
母公司名称 注册地 业务性质 注册资本 企业的持股 企业的表决
比例(%) 权比例(%)
上海市浦东新区 酒店投资、酒店经营
锦江酒店集团 杨新东路 24 号 316-318 室 和管理及其他 人民币 556,600 万元 50.32 50.32
本公司的母公司情况的说明
锦江酒店集团是一家在中华人民共和国境内由上海新亚(集团)有限公司改制而成的股份有限公司，成立于 1995 年 6 月 6 日，主要从
事酒店、食品等业务。2006 年 12 月 15 日锦江酒店集团股票(证券代码：02006)获准在香港联合交易所有限公司挂牌交易。其母公司
及最终控股股东均为锦江国际。
本公司最终控制方是锦江国际。
2、本公司的子公司情况
子公司的基本情况及相关信息参见附注(七)1。
3、本集团的合营和联营企业情况
本集团无合营企业，本集团的联营企业的基本情况及相关信息参见附注(七)3。
4、本集团的其他关联方情况
关联方名称 与本集团的关系
上海锦江国际酒店(集团)股份有限公司新锦江大酒店 母公司之组成部分
上海锦江国际酒店(集团)股份有限公司新亚大酒店 母公司之组成部分
上海锦江国际酒店(集团)股份有限公司新城饭店 母公司之组成部分
上海锦江饭店有限公司 同一母公司
上海锦江国际饭店有限公司 同一母公司
上海龙柏饭店有限公司 同一母公司
上海锦江金门大酒店有限公司 同一母公司
上海虹桥宾馆有限公司 同一母公司
上海市上海宾馆有限公司 同一母公司
上海金沙江大酒店有限公司(“金沙江大酒店”) 同一母公司
上海和平饭店有限公司 同一母公司
武汉锦江国际大酒店有限公司 同一母公司
上海商悦青年会大酒店有限公司(“青年会大酒店”) 同一母公司
上海海仑宾馆有限公司 同一母公司
上海建国宾馆有限公司 同一母公司
上海白玉兰宾馆有限公司(“白玉兰宾馆”) 同一母公司
锦江国际集团财务有限责任公司 同一母公司
上海新亚广场长城酒店有限公司 同一母公司
上海锦江国际酒店物品有限公司 同一母公司
锦江国际酒店管理有限公司 同一母公司
上海南华亭酒店有限公司(“南华亭酒店”) 同一母公司
上海锦江旅游有限公司 同一母公司
上海锦江国际旅游股份有限公司 同一母公司
上海锦江国际实业投资股份有限公司新锦江商旅酒店 同一母公司
132
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
4、本集团的其他关联方情况 - 续
关联方名称 与本集团的关系
西安西京国际饭店有限公司 同一母公司
静安面包房 同一母公司、联营公司
上海锦江汤臣大酒店有限公司 母公司之合营公司
上海锦江国际理诺士酒店管理专修学院 母公司之联营公司
上海扬子江大酒店有限公司 母公司之联营公司
(以下将锦江酒店集团同上述公司统称为“锦江酒店集团及其下属企业”)
上海龙申商务服务有限公司 同一最终控制方
上海新亚(集团)经贸有限公司 同一最终控制方
上海食品集团酒店管理有限公司胶州度假旅馆 同一最终控制方
上海锦江广告装饰公司 同一最终控制方
上海锦江乐园 同一最终控制方
上海市食品集团公司晋元大酒店 同一最终控制方
上海锦江物业管理公司 同一最终控股方
上海庚杰投资管理有限公司 同一最终控制方
香港锦江旅游有限公司 同一最终控制方
上海东锦江大酒店有限公司 同一最终控制方
上海牛羊肉公司 同一最终控制方
上海锦江国际投资管理有限公司 同一最终控制方
锦江国际商务电子有限公司 同一最终控制方
上海华亭宾馆有限公司 同一最终控制方
上海新苑宾馆 同一最终控制方
上海沪南蛋品公司 同一最终控制方
汇通百达网络科技(上海)有限公司 同一最终控制方
Master Melon Capital 同一最终控制方
(以下将锦江国际同上述公司统称为“锦江国际及其下属企业”)
上海新锦酒店管理有限公司 联营公司
(以下将上述公司统称为“旅馆投资之关联企业”)
GOLDEN TULIP MENA 联营公司
GOLDEN TULIP SOUTHERN ASIA LTD 联营公司
SNC LISIEUX 联营公司
(以下将上述公司统称为“GDL 之关联企业”)
甘孜州圣地香巴拉旅游投资有限公司 联营公司
广州木西美互联网服务有限公司 联营公司
广州涯际酒店管理有限公司 联营公司
(以下将上述公司统称为“Keystone 之关联企业”)
133
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况
(1) 购销商品、提供和接受劳务的关联交易
采购商品/接受劳务情况表：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至 2016
关联方 关联交易内容 2017 年 6 月 30 日 年 6 月 30 日
止期间 止期间
1.采购
锦江酒店集团及其下属企业 采购酒店物品、食品 283,280.02 342,257.87
锦江国际及其下属企业 采购酒店物品、食品 11,700.00 15,342.00
小计 294,980.02 357,599.87
2.接受劳务
锦江国际及其下属企业 会员积分服务费用 1,784,954.56 1,282,717.79
小计 1,784,954.56 1,282,717.79
锦江国际及其下属企业 订房服务费 220,696.41 318,333.48
小计 220,696.41 318,333.48
出售商品/提供劳务情况表：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
关联方 关联交易内容 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
1.管理费收入
锦江酒店集团及其下属企业 中国大陆境内有限服务型酒店管理费收入 458,440.68 526,409.31
锦江国际及其下属企业 中国大陆境内有限服务型酒店管理费收入 415,058.73 380,222.15
小计 873,499.41 906,631.46
2.订房渠道费收入
锦江酒店集团及其下属企业 中国大陆境内有限服务型酒店订房渠道费收入 135,528.31 103,260.57
锦江国际及其下属企业 中国大陆境内有限服务型酒店订房渠道费收入 129,209.43 89,863.34
小计 264,737.74 193,123.91
3.积分收入
锦江酒店集团及其下属企业 中国大陆境内有限服务型酒店积分收入 11,071.51 18,016.02
锦江国际及其下属企业 中国大陆境内有限服务型酒店积分收入 12,953.27 19,157.72
小计 24,024.78 37,173.74
4.销售酒店物品及食品收入
锦江酒店集团及其下属企业 中国大陆境内有限服务型酒店销售物品 96,039.03 68,586.44
锦江国际及其下属企业 中国大陆境内有限服务型酒店销售物品 101,908.24 112,701.70
小计 197,947.27 181,288.14
锦江酒店集团及其下属企业 销售食品 794,039.31 1,019,622.94
锦江国际及其下属企业 销售食品 74,726.48 69,763.40
小计 868,765.79 1,089,386.34
134
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(2) 关联租赁情况
本集团作为出租方：
人民币元
承租方名称 租赁资产种类 本期确认的租赁收入 上期确认的租赁收入
上海锦江国际理诺士酒店管理专修学院 办公区域 59,410.71 112,190.48
小计 59,410.71 112,190.48
本集团作为承租方：
人民币元
出租方名称 租赁资产种类 本期确认的租赁费 上期确认的租赁费
上海庚杰投资管理有限公司 经营区域及办公区域 4,902,593.58 5,314,285.71
金沙江大酒店(注) 经营区域 - 5,038,607.22
南华亭酒店(注) 经营区域 4,070,080.86 4,089,584.90
白玉兰宾馆(注) 经营区域 4,229,649.60 4,017,495.30
上海锦江饭店有限公司 餐厅及员工楼 1,302,258.13 1,527,892.57
锦江国际 办公区域及经营区域 1,317,062.85 1,230,777.13
上海东锦江大酒店有限公司 办公区域 5,811.72 299,789.00
上海锦江乐园 经营区域 1,520,834.53 285,033.66
上海锦江物业管理公司 办公区域及海宁店销售店铺 352,579.31 331,307.92
武汉锦江国际大酒店有限公司 餐厅 230,171.24 206,907.93
上海锦江国际投资管理有限公司 经营区域 642,765.72 -
小计 18,573,807.54 22,341,681.34
注： 有关本公司与锦江酒店集团子公司南华亭酒店、金沙江大酒店及白玉兰宾馆的租赁及与锦江酒店集
团及其子公司青年会大酒店的受托经营的详情参见附注(十)5(3)。
(3) 关联受托经营及租赁情况
于 2013 年 3 月 29 日，本公司与锦江酒店集团签署了《委托经营合同》，本公司受托经营锦江酒店集团下
属的组成部分锦江酒店集团新城饭店分公司及锦江酒店集团新亚大酒店分公司(以下称为“受托经营酒
店”)。受托经营期限为 15 年，自 2013 年 4 月 1 日至 2028 年 3 月 31 日止，且本公司享有委托期限届满
后的续期选择权，续期不少于 5 年。本公司在上述 15 年的受托经营期限内，每年向锦江酒店集团支付固
定金额的受托经营业务费用，同时，为了经营需要，本公司借用受托经营酒店于 2013 年 3 月 31 日在册
的合格从业人员，并每年向锦江酒店集团支付有关人员的劳动报酬及其社会保险费等费用。除上述费用
外的受托经营资产剩余收益或亏损全部归本公司享有或承担。此外，上述受托经营两家分公司在 2013
年 4 月 1 日前形成的原有债权债务仍由锦江酒店集团继续承担。
于 2013 年 3 月 29 日，本公司与南华亭酒店、金沙江大酒店及白玉兰宾馆分别签署了《租赁合同》，本公
司租赁南华亭酒店、金沙江大酒店及白玉兰宾馆所拥有的酒店物业、场地及附属设施(以下统称为“租入
酒店”)。租赁期限为 15 年，自 2013 年 4 月 1 日至 2028 年 3 月 31 日止，且本公司享有租赁期限届满后
的续期选择权，续期不少于 5 年。本公司在上述 15 年的租赁期限内，每年向南华亭酒店、金沙江大酒店
及白玉兰宾馆支付固定金额的相关租赁费用。同时，为了经营需要，本公司借用租入酒店于 2013 年 3
月 31 日在册的合格从业人员，并每年向南华亭酒店、金沙江大酒店及白玉兰宾馆支付有关人员的劳动报
酬及其社会保险费等费用。此外，上述南华亭酒店、金沙江大酒店及白玉兰宾馆在 2013 年 4 月 1 日前形
成的原有债权债务仍由其分别继续承担。
135
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(3) 关联受托经营及租赁情况 - 续
于 2016 年 8 月 31 日，本公司与金沙江大酒店的《租赁合同》提前终止。
除金沙江大酒店外，上述受托经营酒店及租入酒店 2017 年 1 月 1 日至 2017 年 6 月 30 日止期间的经营成
果和现金流量纳入本公司的利润表和现金流量表及本集团的合并利润表和合并现金流量表。上述受托经
营酒店及租入酒店自 2013 年 4 月 1 日起经营产生的资产、负债已纳入本公司的资产负债表及本集团的合
并资产负债表。
于 2013 年 12 月 30 日，本公司与青年会大酒店签署了《委托经营合同》，本公司受托经营青年会大酒店，
受托经营期限为 14 年，自 2014 年 1 月 1 日至 2027 年 12 月 31 日止，委托期限届满前六个月，如本公司
有意对委托期限续期，经与青年会大酒店、上海基督教青年会进行协商达成共识后可按约定对委托期限
续期，青年会大酒店应予以配合。在上述受托经营期限内，本公司每年向青年会大酒店支付受托经营业
务费用，同时，为了经营需要，本公司借用青年会大酒店截至 2013 年 12 月 31 日在册的原有合格从业人
员，并每年向青年会大酒店支付有关人员的劳动报酬及其社会保险费等费用，并一次性买断受托经营酒
店拥有的以 2013 年 12 月 31 日的账面价值为计价基础的存货共计人民币 2,447.23 元。此外，青年会大酒
店在 2013 年 12 月 31 日前形成的原有债权债务仍由其继续承担。本公司设立了上海锦江国际酒店发展股
份有限公司青年会宾馆分公司(“青年会宾馆”)以核算受托经营青年会大酒店后发生的业务。青年会宾馆自
2014 年度的经营成果和现金流量已纳入本公司的利润表和现金流量表及本集团的合并利润表和合并现
金流量表。青年会宾馆自 2014 年 1 月 1 日起经营产生的资产、负债已纳入本公司的资产负债表及本集团
的合并资产负债表。
于本期，本公司作为上述酒店的受托经营方或承租方，应支付的相关关联受托经营业务费用/租赁费用及
支付的租用人员的劳动报酬及其社会保险费等费用情况如下：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
委托经营方/出租方名称 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
关联受托经营业务费用/租赁费
锦江酒店集团 15,072,000.00 14,820,800.00
青年会大酒店 5,520,000.00 5,162,500.00
金沙江大酒店 - 5,038,607.22
南华亭酒店 4,284,000.00 4,089,584.90
白玉兰宾馆 4,452,000.00 4,017,495.30
合计 29,328,000.00 33,128,987.42
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
支付的租用人员的劳动报酬及其社会保险费等费用 26,413,734.30 27,009,970.34
136
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(4) 关联担保情况
本集团作为被担保方：
人民币元
担保是否已
担保方 被担保方 担保金额 担保起始日 担保到期日
经履行完毕
锦江国际 海路投资 5,996,984,353.00 2015 年 5 月 19 日 2018 年 5 月 18 日 否
(5) 关联方资金拆借情况
人民币元
关联方 拆借金额 起始日 到期日 说明
拆入
财务公司 200,000,000.00 2016 年 2 月 18 日 2017 年 2 月 3 日 信用借款
财务公司 100,000,000.00 2016 年 12 月 20 日 2017 年 2 月 3 日 信用借款
财务公司 100,000,000.00 2016 年 12 月 20 日 2017 年 6 月 1 日 信用借款
财务公司 400,000,000.00 2016 年 12 月 20 日 2017 年 5 月 31 日 信用借款
财务公司 200,000,000.00 2017 年 1 月 17 日 2017 年 6 月 19 日 信用借款
财务公司 100,000,000.00 2017 年 2 月 4 日 2017 年 5 月 31 日 信用借款
财务公司 5,000,000.00 2016 年 10 月 12 日 2019 年 10 月 11 日 信用借款
财务公司 3,000,000.00 2017 年 1 月 12 日 2020 年 1 月 11 日 信用借款
财务公司 8,000,000.00 2017 年 1 月 3 日 2019 年 12 月 28 日 信用借款
财务公司 8,000,000.00 2017 年 4 月 11 日 2020 年 4 月 11 日 信用借款
财务公司 6,000,000.00 2017 年 5 月 17 日 2018 年 5 月 16 日 信用借款
Master Melon Capital 3,874,800,000.00 2017 年 5 月 15 日 2022 年 5 月 10 日 信用借款
小计 5,004,800,000.00
拆出
新锦酒店管理 9,000,000.00 2015 年 11 月 17 日 2017 年 11 月 16 日 委托贷款
小计 9,000,000.00
本集团与关联方之间资金拆借产生的利息收支列示如下：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
利息支出 12,722,073.37 18,346,346.36
利息收入 6,363,316.69 4,737,766.59
本集团将部分结算资金或闲置资金存入财务公司，期末余额及本期交易额列示如下：
人民币元
财务公司 2017 年 6 月 30 日 2016 年 12 月 31 日
期末存款余额 943,789,925.11 716,477,176.50
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
财务公司 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
报告期内累计存入财务公司的存款资金 6,547,066,241.27 4,790,560,697.54
报告期内累计从财务公司取出的存款资金 6,319,753,492.66 4,286,208,420.52
137
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
5、关联交易情况 - 续
(6) 本财务报告期内本集团无关联方资产转让以及债务重组。
(7) 本财务报告期内本集团无其他关联交易。
6、关联方应收应付款项
(1) 应收项目
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目名称 关联方
账面余额 坏账准备 账面余额 坏账准备
应收账款 锦江酒店集团及其下属企业 843,274.74 - 1,406,135.60 -
应收账款 锦江国际及其下属企业 19,073,235.80 - 4,099,297.86 -
应收账款 GDL 之关联企业 26,310,090.39 6,447,622.25 24,806,773.05 6,079,215.22
小计 46,226,600.93 6,447,622.25 30,312,206.51 6,079,215.22
其他应收款 锦江酒店集团及其下属企业 1,284,898.41 - 725,119.31 -
其他应收款 锦江国际及其下属企业 5,367,134.69 - 1,013,676.50 -
其他应收款 GDL 之关联企业 5,812,200.00 - 5,421,645.60 -
其他应收款 Keystone 之关联企业 - - 850.68 -
小计 12,464,233.10 - 7,161,292.09 -
应收利息 锦江酒店集团及其下属企业 12,580,322.54 - 9,974,805.84 -
应收利息 旅馆投资之关联企业 12,120.00 - 13,332.00 -
小计 12,592,442.54 - 9,988,137.84 -
其他流动资产 Keystone 之关联企业 5,543,803.80 5,543,803.80 5,543,803.80 5,543,803.80
小计 5,543,803.80 5,543,803.80 5,543,803.80 5,543,803.80
一年内到期的其他
旅馆投资之关联企业 9,000,000.00 - 9,000,000.00 -
非流动资产
小计 9,000,000.00 - 9,000,000.00 -
其他非流动资产 Keystone 之关联企业 - - 1,320,000.00 -
小计 - - 1,320,000.00 -
(2) 应付项目
人民币元
项目名称 关联方 2017 年 6 月 30 日 2016 年 12 月 31 日
应付账款 锦江国际及其下属企业 2,939,862.83 222,995.99
应付账款 锦江酒店集团及其下属企业 3,871,427.31 10,468,353.45
小计 6,811,290.14 10,691,349.44
其他应付款 锦江国际及其下属企业 1,286,830.25 2,618,744.53
其他应付款 锦江酒店集团及其下属企业 3,558,670.78 2,761,773.13
小计 4,845,501.03 5,380,517.66
预收款项 Keystone 之关联企业 - 100,000.00
小计 - 100,000.00
应付利息 锦江酒店集团及其下属企业 34,941.80 856,835.10
小计 34,941.80 856,835.10
138
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十一) 承诺及或有事项
1、重要承诺事项
(1) 资本承诺
人民币千元
2017 年 6 月 30 日 2016 年 12 月 31 日
已签约但尚未于财务报表中确认的
-购建长期资产承诺 166,031 169,451
-对外投资承诺 - 328,806
合计 166,031 498,257
(2) 经营租赁承诺
至资产负债表日止，本集团对外签订的不可撤销的经营租赁合约情况如下：
人民币千元
2017 年 6 月 30 日 2016 年 12 月 31 日
不可撤销经营租赁的最低租赁付款额：
资产负债表日后第 1 年 1,696,525 1,743,336
资产负债表日后第 2 年 1,645,341 1,697,111
资产负债表日后第 3 年 1,598,271 1,636,300
以后年度 9,766,976 10,352,888
合计 14,707,113 15,429,635
2、前期承诺履行情况
本财务报告期内，本集团之资本承诺及经营租赁承诺已按照之前承诺履行。
3、或有事项
于本财务报告期末，本集团并无重大的或有事项。
(十二) 资产负债表日后事项
无
(十三) 分部报告
根据本集团的内部组织结构、管理要求及内部报告制度，本集团的经营业务划分为 4 个经营分部，本集
团的管理层定期评价这些分部的经营成果，以决定向其分配资源及评价其业绩。在经营分部的基础上本
集团确定了 4 个报告分部，报告分部根据集团的业务性质分为“中国大陆境内有限服务型酒店营运及管理
业务”、“中国大陆境外有限服务型酒店营运及管理业务”、“食品及餐饮业务”及“其他”。本集团各个报告
分部提供的主要产品及劳务分别为境内酒店服务业务、境外酒店服务业务、餐饮服务业务及其他业务。
分部报告信息根据各分部向管理层报告时采用的会计政策及计量标准披露，这些计量基础与编制财务报
表时的会计与计量基础保持一致。
分部间转移价格参照市场价格确定，间接归属于各分部的费用按照收入比例在分部之间进行分配。
139
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十三) 分部报告 - 续
1、分部报告信息
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间分部报告信息如下：
人民币元
中国大陆境内有限服务型酒 中国大陆境外有限服务型酒
食品及餐饮业务 其他 分部间相互抵减 合计
店营运及管理业务 店营运及管理业务
营业收入
对外交易收入 4,370,282,061.86 1,793,923,433.91 124,717,759.51 89,895.25 - 6,289,013,150.53
分部间交易收入 261,230.90 9,387,400.47 2,320,435.45 997,683.42 (12,966,750.24) -
分部营业收入合计 4,370,543,292.76 1,803,310,834.38 127,038,194.96 1,087,578.67 (12,966,750.24) 6,289,013,150.53
营业成本
对外交易成本 404,546,375.56 139,497,160.93 59,700,696.88 30,888.06 - 603,775,121.43
分部间交易成本 - - 1,550,708.03 540,540.54 (2,091,248.57) -
分部营业成本合计 404,546,375.56 139,497,160.93 61,251,404.91 571,428.60 (2,091,248.57) 603,775,121.43
减：税金及附加 29,589,376.01 76,727,498.40 176,127.61 122,466.74 - 106,615,468.76
销售费用 2,485,945,016.05 1,047,881,790.65 30,367,671.69 - (261,230.90) 3,563,933,247.49
管理费用 1,006,656,207.37 380,081,907.24 46,654,343.48 34,367,070.13 (10,614,270.77) 1,457,145,257.45
财务费用 44,388,448.20 86,824,763.67 558,609.91 92,990,946.66 (5,993,170.44) 218,769,598.00
资产减值损失 17,582,339.07 (8,662,315.08) 4,847,362.25 - - 13,767,386.24
加:公允价值变动损益 - - - - - -
投资收益 30,106,244.37 21,823,254.22 121,875,378.65 93,395,355.63 (5,993,170.44) 261,207,062.43
其他收益 17,100,017.83 1,000,000.00 - - - 18,100,017.83
分部账面营业利润 429,041,792.70 103,783,282.79 105,058,053.76 (33,568,977.83) - 604,314,151.42
营业外收入 11,124,968.80 2,310,092.21 1,182,123.66 355,096.53 - 14,972,281.20
营业外支出 25,942,691.18 656,509.30 43,046.06 1,080.68 - 26,643,327.22
分部账面利润总额 414,224,070.32 105,436,865.70 106,197,131.36 (33,214,961.98) - 592,643,105.40
所得税 135,984,801.45 29,580,270.49 1,105,311.35 321,167.07 - 166,991,550.36
分部账面净利润 278,239,268.87 75,856,595.21 105,091,820.01 (33,536,129.05) - 425,651,555.04
减：收购日被收购方可辨认净资产公允价
45,837,035.38 (71,257,711.22) - - - (25,420,675.84)
值超过账面价值部分的摊销(注)
净利润 232,402,233.49 147,114,306.43 105,091,820.01 (33,536,129.05) - 451,072,230.88
少数股东损益 41,098,266.37 (2,394,025.62) (85,699.28) - - 38,618,541.47
归属于母公司所有者的净利润 191,303,967.12 149,508,332.05 105,177,519.29 (33,536,129.05) - 412,453,689.41
140
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十三) 分部报告 - 续
1、分部报告信息 - 续
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间分部报告信息如下： - 续
人民币元
中国大陆境内有限服务型 中国大陆境外有限服务型
食品及餐饮业务 其他 分部间相互抵减 合计
酒店营运及管理业务 酒店营运及管理业务
资产总额 22,908,121,675.20 13,407,076,194.27 289,249,714.21 6,506,226,937.17 (824,271,478.24) 42,286,403,042.61
其中：分部账面资产 13,463,264,230.37 6,117,160,462.91 101,240,799.28 6,446,859,109.86 (824,271,478.24) 25,304,253,124.18
分部账面长期股权投资 50,859,056.28 90,312,836.61 188,008,914.93 59,367,827.31 - 388,548,635.13
收购日被收购方可辨认资产公允价值超过
2,866,349,689.90 2,356,727,486.01 - - - 5,223,077,175.91
账面价值的摊余金额(注)
商誉 6,527,648,698.65 4,842,875,408.74 - - - 11,370,524,107.39
负债总额 7,011,724,416.57 12,320,904,107.04 133,123,645.07 9,121,380,527.13 (537,733,174.61) 28,049,399,521.20
其中：分部账面负债 6,295,136,994.09 11,625,583,401.20 133,123,645.07 9,121,380,527.13 (537,733,174.61) 26,637,491,392.88
收购日被收购方可辨认负债公允价值超过
716,587,422.48 695,320,705.84 - - - 1,411,908,128.32
账面价值的摊余金额(注)
补充信息：
折旧 156,310,518.43 206,764,968.09 1,494,595.43 367,563.76 - 364,937,645.71
摊销 383,053,744.07 19,748,616.12 1,244,009.65 155,675.28 - 404,202,045.12
利息收入 9,699,576.20 570,325.15 130,145.42 109,993,799.96 - 120,393,846.73
利息支出 34,960,738.38 75,490,443.17 558,941.73 192,453,140.52 (5,993,170.44) 297,470,093.36
当期确认(转回)的减值损失 17,582,339.07 (8,662,315.08) 4,847,362.25 - - 13,767,386.24
采用权益法核算的长期股权投资确认的
(565,518.56) 1,814,512.95 60,324,918.36 (8,162,508.19) - 53,411,404.56
投资收益(损失)
采用权益法核算的长期股权投资金额 50,859,056.28 90,312,836.61 188,008,914.93 59,367,827.31 - 388,548,635.13
长期股权投资以外的非流动资产 18,445,026,877.09 11,844,295,595.59 38,323,400.98 1,211,446,400.29 (593,170,497.54) 30,945,921,776.41
资本性支出 239,655,251.89 79,208,267.62 131,543.02 633.21 - 318,995,695.74
其中：在建工程支出 202,135,728.85 43,263,131.34 - - - 245,398,860.19
购置固定资产支出 29,802,048.61 33,606,534.03 61,286.61 633.21 - 63,470,502.46
购置无形资产支出 875,470.43 1,188,230.22 70,256.41 - - 2,133,957.06
购置长期待摊费用支出 6,842,004.00 1,150,372.03 - - - 7,992,376.03
注：系本集团非同一控制下收购时尚之旅、GDL、Keystone 以及维也纳酒店及百岁村餐饮时可辨认资产及负债公允价值超过账面价值在本财务报告期间的摊销金
额及本财务报告期末的摊余金额。
141
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十三) 分部报告 - 续
1、分部报告信息 - 续
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间分部报告信息如下：
人民币元
中国大陆境内有限服务型 中国大陆境外有限服务型
食品及餐饮业务 其他 分部间相互抵减 合计
酒店营运及管理业务 酒店营运及管理业务
营业收入
对外交易收入 2,534,325,678.75 1,712,732,867.08 121,007,908.32 114,631.11 - 4,368,181,085.26
分部间交易收入 275,000.00 - 2,463,113.37 727,108.62 (3,465,221.99) -
分部营业收入合计 2,534,600,678.75 1,712,732,867.08 123,471,021.69 841,739.73 (3,465,221.99) 4,368,181,085.26
营业成本
对外交易成本 242,381,268.54 131,689,793.90 60,014,967.58 10,296.02 - 434,096,326.04
分部间交易成本 - - 1,633,082.07 580,180.18 (2,213,262.25) -
分部营业成本合计 242,381,268.54 131,689,793.90 61,648,049.65 590,476.20 (2,213,262.25) 434,096,326.04
减：税金及附加 78,612,621.84 - 4,625,600.15 159,134.64 - 83,397,356.63
销售费用 1,577,688,928.95 968,303,454.24 34,675,945.36 - (275,000.00) 2,580,393,328.55
管理费用 444,714,837.92 424,078,283.51 38,293,774.83 31,776,829.50 (976,959.74) 937,886,766.02
财务费用 38,826,648.44 87,922,544.18 312,780.20 104,069,177.88 (1,613,076.23) 229,518,074.47
资产减值损失 14,139,150.75 414,261.57 (43,431.60) - - 14,509,980.72
加:公允价值变动损益 - - - - - -
投资收益 2,512,860.57 4,026,440.17 92,287,558.52 235,790,509.44 (1,613,076.23) 333,004,292.47
分部账面营业利润 140,750,082.88 104,350,969.85 76,245,861.62 100,036,630.95 - 421,383,545.30
营业外收入 26,208,109.82 40,287,892.76 3,569,621.14 11,167,447.14 - 81,233,070.86
营业外支出 7,756,370.83 5,464,123.28 214,796.96 21,013.41 - 13,456,304.48
分部账面利润总额 159,201,821.87 139,174,739.33 79,600,685.80 111,183,064.68 - 489,160,311.68
所得税 51,754,157.02 62,003,072.21 1,353,265.78 22,737,087.19 - 137,847,582.20
分部账面净利润 107,447,664.85 77,171,667.12 78,247,420.02 88,445,977.49 - 351,312,729.48
减：收购日被收购方可辨认净资产
21,694,485.43 26,226,117.32 - - - 47,920,602.75
公允价值超过账面价值部分的摊销
净利润 85,753,179.42 50,945,549.80 78,247,420.02 88,445,977.49 - 303,392,126.73
少数股东损益 3,129,799.35 1,780,030.55 (675,036.18) - - 4,234,793.72
归属于母公司所有者的净利润 82,623,380.07 49,165,519.25 78,922,456.20 88,445,977.49 - 299,157,333.01
142
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十三) 分部报告 - 续
1、分部报告信息 - 续
2016 年 1 月 1 日至 2016 年 6 月 30 日止期间分部报告信息如下： - 续
人民币元
中国大陆境内有限服务型 中国大陆境外有限服务型
食品及餐饮业务 其他 分部间相互抵减 合计
酒店营运及管理业务 酒店营运及管理业务
资产总额 19,630,459,474.54 12,808,014,525.31 283,874,092.04 10,830,338,514.27 (650,378,590.22) 42,902,308,015.94
其中：分部账面资产 12,016,853,256.83 5,942,084,225.31 107,225,700.66 10,828,343,178.11 (650,378,590.22) 28,244,127,770.69
分部账面长期股权投资 29,269,435.57 91,933,587.45 176,648,391.38 1,995,336.16 - 299,846,750.56
收购日被收购方可辨认资产公允价值超过
1,848,156,172.39 2,343,919,737.33 - - - 4,192,075,909.72
账面价值的摊余金额
商誉 5,736,180,609.75 4,430,076,975.22 - - - 10,166,257,584.97
负债总额 6,550,503,885.75 12,043,205,946.80 108,542,346.46 15,399,505,687.81 (391,223,044.23) 33,710,534,822.59
其中：分部账面负债 6,023,898,023.29 11,236,194,381.20 108,542,346.46 15,399,505,687.81 (391,223,044.23) 32,376,917,394.53
收购日被收购方可辨认负债公允价值超过
526,605,862.46 807,011,565.60 - - - 1,333,617,428.06
账面价值的摊余金额
补充信息：
折旧 126,949,141.54 161,394,698.18 2,182,521.29 372,448.98 - 290,898,809.99
摊销 260,468,326.60 18,967,521.00 1,368,157.38 155,675.28 - 280,959,680.26
利息收入 7,162,629.68 645,201.06 147,420.86 107,858,377.92 - 115,813,629.52
利息支出 38,727,101.41 73,209,868.47 267,650.92 218,483,743.69 (1,613,076.23) 329,075,288.26
当期确认(转回)的减值损失 14,139,150.75 414,261.57 (43,431.60) - - 14,509,980.72
采用权益法核算的长期股权投资确认的
(1,344,714.88) 4,107,782.56 47,787,129.17 - - 50,550,196.85
投资收益(损失)
采用权益法核算的长期股权投资金额 29,269,435.57 91,933,587.45 176,648,391.38 1,995,336.16 - 299,846,750.56
长期股权投资以外的非流动资产 16,605,907,084.61 11,192,983,490.25 42,038,398.30 5,397,153,823.90 (278,966,435.99) 32,959,116,361.07
资本性支出 252,532,367.98 127,498,120.08 1,172,476.45 - - 381,202,964.51
其中：在建工程支出 228,990,842.26 88,344,505.98 902,197.28 - - 318,237,545.52
购置固定资产支出 21,576,222.14 38,244,335.30 120,401.09 - - 59,940,958.53
购置无形资产支出 551,456.36 754,330.47 - - - 1,305,786.83
购置长期待摊费用支出 1,413,847.22 154,948.33 149,878.08 - - 1,718,673.63
2、本集团主要业务为酒店营运管理、食品及餐饮服务等，经营范围广泛，未有对特定客户的依赖。
143
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释
1、货币资金
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目
外币金额 折算率 人民币金额 外币金额 折算率 人民币金额
现金：
人民币 273,271.25 255,824.40
银行存款：
人民币(注 1) 3,842,479,503.46 3,418,591,656.82
美元 64,897,428.11 6.7744 439,642,304.72 64,853,801.96 6.9370 449,890,824.19
其他金融机构存款(注 2)：
人民币 376,105,530.64 375,892,371.70
合计 4,658,500,610.07 4,244,630,677.11
注 1： 本公司上述银行存款中用于为子公司借款提供担保的质押存款为人民币 3,306,492,000.00 元(期初
数：人民币 1,417,068,000.00 元)。质押借款信息参见附注(五)28。
注 2： 其他金融机构存款系存放于财务公司的款项。
2、应收账款
(1) 应收账款按种类披露：
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类 计提 计提
比例 账面价值 比例 账面价值
金额 金额 比例 金额 金额 比例
(%) (%)
(%) (%)
单项金额重大并单项计提
- - - - - - - - - -
坏账准备的应收账款
按信用风险特征组合计提
14,785,445.53 100.00 144,115.93 0.97 14,641,329.60 5,711,407.25 100.00 107,795.06 1.89 5,603,612.19
坏账准备的应收账款
单项金额不重大但单独计
- - - - - - - - - -
提坏账准备的应收账款
合计 14,785,445.53 100.00 144,115.93 0.97 14,641,329.60 5,711,407.25 100.00 107,795.06 1.89 5,603,612.19
组合中，按账龄分析法计提坏账准备的应收账款：
人民币元
2017 年 6 月 30 日
账龄
金额 坏账准备 计提比例(%)
3 个月以内 9,937,055.50 - -
3 至 6 个月 4,551,716.22 22,617.24 0.50
6 至 12 个月 233,566.83 58,391.71 25.00
12 个月以上 63,106.98 63,106.98 100.00
合计 14,785,445.53 144,115.93 0.97
(2) 本期计提、收回或转回的坏账准备情况
人民币元
项目 2016 年 12 月 31 日 本期计提额 本期转回额 本期转销额 2017 年 6 月 30 日
坏账准备 107,795.06 92,111.08 (55,790.21) - 144,115.93
144
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
2、应收账款 - 续
(3) 按欠款方归集的期末余额前五名的应收账款情况
人民币元
与本公司 占应收账款总额的比例 计提坏账
单位名称 金额
关系 (%) 准备金额
北京三快科技有限公司 第三方 1,185,275.40 8.02 28,000.28
汇通百达网络科技(上海)有限公司 关联方 518,566.83 3.51 1,200.15
上海晶英汇餐饮有限公司 第三方 823,485.67 5.57 78,020.83
上海携程国际旅行社有限公司 第三方 369,436.51 2.50 -
北京趣拿软件科技有限公司 第三方 340,350.00 2.30 1,701.75
合计 3,237,114.41 21.90 108,923.01
3、应收利息
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
银行定期存款 337,269,638.82 130,828,470.84
财务公司定期存款 12,280,000.00 9,880,000.00
委托贷款 299,908.66 366,945.33
合计 349,849,547.48 141,075,416.17
4、应收股利
人民币元
2016 年 2017 年 相关款项是否
项目 本期增加 本期减少 未收回的原因
12 月 31 日 6 月 30 日 发生减值
账龄一年以内的应收股利
(1)锦江之星 - 130,000,000.00 - 130,000,000.00 尚未发放 否
(2)锦江食品 - 720,000.00 (360,000.00) 360,000.00 尚未发放完毕 否
(3)卢浮亚洲 - 47,000,000.00 (47,000,000.00) - -- --
(4)长江证券股份有限公司 - 7,950,000.00 (7,950,000.00) - -- --
(5)申万宏源股份有限公司 1,496,956.40 (1,496,956.40) - -- --
(6)杭州肯德基有限公司 14,579,808.60 38,964,078.50 (22,372,203.48) 31,171,683.62 尚未发放完毕 否
(7)苏州肯德基有限公司 - 15,461,142.53 (9,600,000.00) 5,861,142.53 尚未发放完毕 否
(8)无锡肯德基有限公司 - 7,125,239.26 (4,000,000.00) 3,125,239.26 尚未发放完毕 否
(9)上海肯德基有限公司 - 87,297,483.35 (87,297,483.35) - -- --
(10)新亚富丽华 - 4,592,000.00 (4,592,000.00) - -- --
(11)其他 - 97,945.92 (97,945.92) - -- --
合计 14,579,808.60 340,704,845.96 (184,766,589.15) 170,518,065.41 -- --
本财务报告期末，本公司无账龄一年以上的应收股利。
5、其他应收款
(1) 其他应收款按种类披露：
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
账面余额 坏账准备 账面余额 坏账准备
种类 计提 计提
账面价值 账面价值
金额 比例(%) 金额 比例 金额 比例(%) 金额 比例
(%) (%)
单项金额重大并单项计提
90,999,073.08 89.12 - - 90,999,073.08 93,776,139.56 87.78 - - 93,776,139.56
坏账准备的其他应收款
按信用风险特征组合计提
- - - - - - - - - -
坏账准备的其他应收款
单项金额不重大但单独计
11,111,846.65 10.88 606,265.93 5.46 10,505,580.72 13,060,648.82 12.22 606,265.93 4.64 12,454,382.89
提坏账准备的其他应收款
合计 102,110,919.73 100.00 606,265.93 0.59 101,504,653.80 106,836,788.38 100.00 606,265.93 0.57 106,230,522.45
145
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
5、其他应收款 - 续
(2) 本期计提、收回或转回的坏账准备情况
本期其他应收款坏账准备余额无变动。
(3) 按款项性质列示其他应收款
人民币元
其他应收款性质 2017 年 6 月 30 日 2016 年 12 月 31 日
关联方代垫资金 98,953,438.27 103,469,125.76
押金及保证金 543,370.38 539,520.38
业务周转金 196,930.08 197,000.00
其他 1,810,915.07 2,024,876.31
合计 101,504,653.80 106,230,522.45
(4) 按欠款方归集的期末余额前五名的其他应收款情况
人民币元
占其他应收款 坏账准备
单位名称 性质 与本公司关系 金额 账龄
总额的比例(%) 期末余额
达华宾馆 关联方代垫资金 子公司 47,735,046.40 2至7年 46.75 -
闵行饭店 关联方代垫资金 子公司 25,386,432.78 1至5年 24.86 -
锦江之星 关联方代垫资金 子公司 9,268,780.08 1至4年 9.08 -
卢浮亚洲 关联方代垫资金 子公司 8,608,813.82 1至5年 8.43 -
成套设备 关联方代垫资金 子公司 3,278,337.51 2至7年 3.21 -
合计 94,277,410.59 92.33 -
6、存货
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目
账面余额 跌价准备 账面价值 账面余额 跌价准备 账面价值
原材料 807,679.31 - 807,679.31 1,082,738.19 - 1,082,738.19
库存商品 2,247,680.23 - 2,247,680.23 1,569,993.79 - 1,569,993.79
合计 3,055,359.54 - 3,055,359.54 2,652,731.98 - 2,652,731.98
7、其他流动资产
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
委托贷款(附注(十四)30(5)) 4,500,000.00 17,500,000.00
增值税 771,762.35 1,346,507.52
所得税 10,605,457.92 9,297,417.63
待摊费用 127,747.95 -
合计 16,004,968.22 28,143,925.15
146
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
8、长期应收款
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
关联方资金拨款 10,328,000.00 10,328,000.00
合计 10,328,000.00 10,328,000.00
系本公司应收全资子公司新亚食品的流动资金拨款。
9、长期股权投资
(1) 长期股权投资分类汇总如下：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
对子公司投资 14,164,247,303.87 14,164,247,303.87
对联营企业投资 245,252,536.47 219,590,171.09
合计 14,409,499,840.34 14,383,837,474.96
减：长期股权投资减值准备 2,051,300.00 2,051,300.00
长期股权投资净额 14,407,448,540.34 14,381,786,174.96
(2) 本财务报告期内长期股权投资减值准备变动如下：
人民币元
2016 年 2017 年
被投资单位 本期增加 本期减少
12 月 31 日 6 月 30 日
子公司
上海饮食服务成套设备公司 2,051,300.00 - - 2,051,300.00
合计 2,051,300.00 - - 2,051,300.00
147
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
9、长期股权投资 - 续
(3) 对子公司投资明细如下：
人民币元
在被投资单位
在被投资单位
核算方 2016 年 本期计提 2017 年 在被投资单位表 持股比例与表 减值准备
被投资单位 初始投资成本 本期新增 持股比例
法 12 月 31 日 减值准备 6 月 30 日 决权比例(%) 决权比例 期末余额
(%)
不一致的说明
子公司
Keystone 成本法 8,132,540,000.00 8,132,540,000.00 - - 8,132,540,000.00 81.0034% 81.0034% 不适用
维也纳酒店 成本法 1,748,800,000.00 1,748,800,000.00 - - 1,748,800,000.00 80% 80% 不适用 -
百岁村餐饮 成本法 800,000.00 800,000.00 - - 800,000.00 80% 80% 不适用 -
旅馆投资 成本法 1,733,088,660.71 2,033,088,660.71 - - 2,033,088,660.71 100% 100% 不适用 -
时尚之旅 成本法 686,345,057.89 1,286,345,057.89 - - 1,286,345,057.89 100% 100% 不适用 -
锦江之星 成本法 377,261,176.09 377,261,176.09 - - 377,261,176.09 100% 100% 不适用 -
锦卢投资 成本法 1,000,000.00 350,000,000.00 - - 350,000,000.00 100% 100% 不适用 -
餐饮投资 成本法 149,804,836.13 149,804,836.13 - - 149,804,836.13 100% 100% 不适用 -
卢浮亚洲 成本法 50,000,000.00 50,000,000.00 - - 50,000,000.00 100% 100% 不适用 -
达华宾馆 成本法 18,692,739.64 18,692,739.64 - - 18,692,739.64 100% 100% 不适用 -
闵行饭店(注) 成本法 5,505,600.00 5,505,600.00 - - 5,505,600.00 98.25% 98.25% 不适用 -
锦盘酒店 成本法 5,000,000.00 5,000,000.00 - - 5,000,000.00 100% 100% 不适用 -
锦江食品 成本法 3,269,783.41 3,269,783.41 - - 3,269,783.41 18% 18% 不适用 -
成套设备 成本法 2,051,300.00 2,051,300.00 - - 2,051,300.00 100% 100% 不适用 2,051,300.00
新亚食品(注) 成本法 1,088,150.00 1,088,150.00 - - 1,088,150.00 5% 5% 不适用 -
合计 12,915,247,303.87 14,164,247,303.87 - - 14,164,247,303.87 2,051,300.00
注：本公司及子公司餐饮投资对闵行饭店持股比例分别为 98.25%及 1.75%。本公司及子公司餐饮投资对新亚食品持股比例分别为 5%及 95%。
148
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
9、长期股权投资 - 续
(4) 对联营公司投资明细如下：
人民币元
本期增减变动
2016 年 2017 年 减值准备
被投资单位 初始投资成本 权益法下确认的 其他综合收益 宣告发放现金
12 月 31 日 追加投资 减少投资 其他权益变动 计提减值准备 其他 6 月 30 日 期末余额
投资损益 调整 股利或利润
联营企业
上海肯德基 97,977,250.00 187,254,691.69 - - 56,616,425.56 - - (87,297,483.35) - - 156,573,633.90 -
新亚富丽华 14,350,000.00 30,203,975.52 - - 3,699,099.74 - - (4,592,000.00) - - 29,311,075.26 -
新鹿餐饮 2,719,227.00 2,131,503.88 - - 133,721.14 - - - - - 2,265,225.02 -
齐程网络(附
100,000,000.00 - 100,000,000.00 - (8,296,229.33) - (34,601,168.38) - - - 57,102,602.29 -
注五(10))
合计 215,046,477.00 219,590,171.09 100,000,000.00 - 52,153,017.11 - (34,601,168.38) (91,889,483.35) - - 245,252,536.47 -
本财务报告期末，本公司持有长期股权投资的被投资单位向本公司转移资金的能力未受到限制，并无未确认的投资损失。
149
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
10、固定资产
固定资产情况
人民币元
项目 房屋及建筑物 机器设备 运输工具 固定资产装修支出 合计
一、账面原值
1.2016 年 12 月 31 日 63,212,256.15 83,376,472.51 1,488,519.51 18,991,367.02 167,068,615.19
2.本期增加金额 - 3,153,474.67 - 735,794.84 3,889,269.51
(1)购置 - 896,427.17 - - 896,427.17
(2)在建工程转入 - 2,257,047.50 - 735,794.84 2,992,842.34
3.本期减少金额 (1,583.79) (2,034,620.36) - - (2,036,204.15)
(1)本期处置或报废 - (36,677.15) - - (36,677.15)
(2)竣工结算调整 (1,583.79) (1,997,943.21) - - (1,999,527.00)
4.2017 年 6 月 30 日 63,210,672.36 84,495,326.82 1,488,519.51 19,727,161.86 168,921,680.55
二、累计折旧
1.2016 年 12 月 31 日 19,327,552.92 32,543,926.66 1,341,808.74 12,486,065.92 65,699,354.24
2.本期增加金额-计提 1,343,757.92 5,043,192.97 4,601.28 1,487,915.26 7,879,467.43
3.本期减少金额-处置或报废 - (31,392.45) - - (31,392.45)
4.2017 年 6 月 30 日 20,671,310.84 37,555,727.18 1,346,410.02 13,973,981.18 73,547,429.22
三、减值准备
1.2016 年 12 月 31 日 - - - - -
2.本期增加金额 - - - - -
3.本期减少金额 - - - - -
4.2017 年 6 月 30 日 - - - - -
四、账面价值
1.2017 年 6 月 30 日 42,539,361.52 46,939,599.64 142,109.49 5,753,180.68 95,374,251.33
2.2016 年 12 月 31 日 43,884,703.23 50,832,545.85 146,710.77 6,505,301.10 101,369,260.95
11、在建工程
(1) 在建工程明细如下：
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目
账面余额 减值准备 账面净值 账面余额 减值准备 账面净值
“锦江都城”新城饭店装修工程 - - - 22,120.00 - 22,120.00
“锦江都城”新亚大酒店
234,157.37 - 234,157.37 566,440.87 - 566,440.87
装修工程
“锦江都城”南华亭宾馆
27,641,084.66 - 27,641,084.66 25,340,899.05 - 25,340,899.05
装修工程
“锦江都城”南京饭店装修工程 43,510,266.98 - 43,510,266.98 39,010,320.94 39,010,320.94
其他装修工程 308,408.75 - 308,408.75 308,408.75 - 308,408.75
合计 71,693,917.76 - 71,693,917.76 65,248,189.61 - 65,248,189.61
150
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
11、在建工程 - 续
(2) 重大在建工程项目变动情况
人民币元
工程投入 本期利息
2016 年 本期转入 本期转入 2017 年 利息资本化 其中：本期利息
项目名称 预算数 本期增加 本期转入 占预算比例 工程进度(%) 资本化率 资金来源
12 月 31 日 固定资产 无形资产 6 月 30 日 累计金额 资本化金额
长期待摊费用 其他减少 (%) (%)
“锦江都城”新城饭
85,726,723.34 22,120.00 63,888.80 (16,187.82) (69,820.98) - - - 100% 100% - - - 自筹拨款
店装修工程
“锦江都城”新亚
138,851,455.92 566,440.87 1,381,430.10 (1,298,348.27) (415,365.33) - - 234,157.37 100% 100% - - - 自筹拨款
大酒店装修工程
“锦江都城”南华
46,002,906.00 25,340,899.05 2,300,185.61 - - - - 27,641,084.66 60.08% 60.08% - - - 自筹拨款
亭宾馆装修工程
“锦江都城”南京饭店
50,000,000.00 39,010,320.94 4,499,946.04 - - - - 43,510,266.98 87.00% 87% - - - 自筹拨款
装修工程
其他装修工程 - 308,408.75 2,170,423.30 (1,678,306.25) (492,117.05) - - 308,408.75 自筹拨款
合计 320,581,085.26 65,248,189.61 10,415,873.85 (2,992,842.34) (977,303.36) - - 71,693,917.76
151
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
12、无形资产
人民币元
项目 土地使用权 其他 合计
一、账面原值
1.2016 年 12 月 31 日 91,847,425.45 1,982,309.19 93,829,734.64
2.本年购置 - 70,256.41 70,256.41
3.本年在建工程转入 - - -
4.本年减少金额 - - -
5.2017 年 6 月 30 日 91,847,425.45 2,052,565.60 93,899,991.05
二、累计摊销
1.2016 年 12 月 31 日 37,132,228.75 1,959,387.17 39,091,615.92
2.本年增加金额-计提 1,171,202.88 8,683.69 1,179,886.57
3.本年减少金额 - - -
4.2017 年 6 月 30 日 38,303,431.63 1,968,070.86 40,271,502.49
三、减值准备
1.2016 年 12 月 31 日 - - -
2.本年增加金额 - - -
3.本年减少金额 - - -
4.2017 年 6 月 30 日 - - -
四、账面价值
1.2017 年 6 月 30 日 53,543,993.82 84,494.74 53,628,488.56
2.2016 年 12 月 31 日 54,715,196.70 22,922.02 54,738,118.72
13、长期待摊费用
人民币元
项目 2016 年 12 月 31 日 本期增加额(注) 本期摊销额 其他减少额(注) 2017 年 6 月 30 日
经营租入固定资产改良 118,169,316.15 410,298.41 (5,276,730.78) (4,020.99) 113,298,862.79
经营租入固定资产装修 74,396,423.50 567,004.95 (7,705,864.69) (136,699.40) 67,120,864.36
合计 192,565,739.65 977,303.36 (12,982,595.47) (140,720.39) 180,419,727.15
注： 本期增加中包括在建工程完工转入长期待摊费用人民币 977,303.36 元。本年减少系竣工调整减少
人民币 140,720.39 元。
14、其他非流动资产
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
委托贷款(附注(十四)30(5)) 280,000,000.00 300,000,000.00
一年后到期的质押存款 - 3,306,492,000.00
一年后到期的质押存款利息 - 224,510,806.80
合计 280,000,000.00 3,831,002,806.80
152
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
15、递延所得税资产/递延所得税负债
(1) 未经抵销的递延所得税资产
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目 可抵扣 可抵扣
递延所得税资产 递延所得税资产
暂时性差异 暂时性差异
应付职工薪酬 21,507,121.85 5,376,780.47 23,605,547.57 5,901,386.90
资产减值准备 5,750,381.86 1,437,595.46 5,714,060.99 1,428,515.25
政府补助 4,785,000.00 1,196,250.00 5,127,650.00 1,281,912.50
经营租赁费用 4,084,600.04 1,021,150.01 3,860,114.30 965,028.58
预收会员卡及积分的递延收益 1,267,481.95 316,870.49 1,597,004.39 399,251.10
合计 37,394,585.70 9,348,646.43 39,904,377.25 9,976,094.33
(2) 未经抵销的递延所得税负债
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目 应纳税 应纳税
递延所得税负债 递延所得税负债
暂时性差异 暂时性差异
计入其他综合收益的可供出售金融
517,761,686.76 129,440,421.69 656,719,052.52 164,179,763.16
资产公允价值变动
合计 517,761,686.76 129,440,421.69 656,719,052.52 164,179,763.16
(3) 以抵销后净额列示的递延所得税资产或负债
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目 抵销后 抵销后
递延所得税资产 递延所得税资产
递延所得税 递延所得税
和负债互抵金额 和负债互抵金额
资产或负债 资产或负债
递延所得税资产 9,348,646.43 - 9,976,094.33 -
递延所得税负债 9,348,646.43 120,091,775.26 9,976,094.33 154,203,668.83
递延所得税资产和递延所得税负债的说明
以下可抵扣暂时性差异和可抵扣亏损未确认递延所得税资产：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
可抵扣亏损(注) 51,720,890.57 -
合计 51,720,890.57 -
注：未确认递延所得税资产的可抵扣亏损将于以下期度到期：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
2022 年 51,720,890.57 -
合计 51,720,890.57 -
153
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
16、资产减值准备明细
人民币元
2016 年 本期减少 2017 年
项目 本期增加
12 月 31 日 转回 转销 6 月 30 日
一、坏账准备 714,060.99 92,111.08 (55,790.21) - 750,381.86
二、存货跌价准备 - - - - -
三、可供出售金融资产减值准备 - - - - -
四、持有至到期投资减值准备 - - - - -
五、长期股权投资减值准备 2,051,300.00 - - - 2,051,300.00
六、投资性房地产减值准备 - - - - -
七、固定资产减值准备 - - - - -
八、工程物资减值准备 - - - - -
九、在建工程减值准备 - - - - -
十、生产性生物资产减值准备 - - - - -
其中：成熟生产性生物资产减值准备 - - - - -
十一、油气资产减值准备 - - - - -
十二、无形资产减值准备 - - - - -
十三、商誉减值准备 - - - - -
十四、其他 - - - - -
合计 2,765,360.99 92,111.08 (55,790.21) - 2,801,681.86
17、短期借款
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
信用借款—银行(注) 930,000,000.00 2,400,000,000.00
信用借款—其他金融机构(附注(五)19) - 800,000,000.00
信用借款—委托借款 - 50,000,000.00
合计 930,000,000.00 3,250,000,000.00
注： 本财务报告期末，本公司分别从招商银行股份有限公司上海外滩支行、上海银行股份有限公司徐
汇支行、上海农村商业银行股份有限公司获得人民币借款，金额分别为 430,000,000.00 元、
300,000,000.00 元、200,000,000.00 元，借款年利率均为 3.915%。
18、应付职工薪酬
(1) 应付职工薪酬列示
人民币元
2016 年 2017 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、短期薪酬 15,412,687.88 59,772,949.38 (49,549,391.57) 25,636,245.69
2、离职后福利-设定提存计划 52,685.06 6,234,530.56 (6,185,031.56) 102,184.06
3、辞退福利 15,261,897.94 191,713.80 (2,290,139.52) 13,163,472.22
合计 30,727,270.88 66,199,193.74 (58,024,562.65) 38,901,901.97
(2) 短期薪酬列示
人民币元
2016 年 2017 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、工资、奖金、津贴和补贴 14,788,627.65 51,460,403.47 (41,383,024.24) 24,866,006.88
2、职工福利费 - 2,391,678.14 (2,391,678.14) -
3、社会保险费 16,744.69 2,805,427.16 (2,805,427.16) 16,744.69
其中：医疗保险费 16,102.08 2,467,606.05 (2,467,606.05) 16,102.08
工伤保险费 405.17 88,900.27 (88,900.27) 405.17
生育保险费 237.44 248,920.84 (248,920.84) 237.44
4、住房公积金 348.00 2,245,964.00 (2,245,073.00) 1,239.00
5、工会经费和职工教育经费 606,967.54 731,476.61 (586,189.03) 752,255.12
6、其他 - 138,000.00 (138,000.00) -
合计 15,412,687.88 59,772,949.38 (49,549,391.57) 25,636,245.69
154
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
18、应付职工薪酬 - 续
(3) 设定提存计划
人民币元
2016 年 2017 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、养老保险费 47,869.18 6,006,989.62 (5,957,490.62) 97,368.18
2、失业保险费 4,815.88 227,540.94 (227,540.94) 4,815.88
合计 52,685.06 6,234,530.56 (6,185,031.56) 102,184.06
本公司按规定参加由政府机构设立的养老保险、失业保险计划，根据该等计划，本公司分别按员工上一
年度月平均工资的 21%、1.5%每月向该等计划缴存费用。除上述每月缴存费用外，本公司不再承担进一
步支付义务。相应的支出于发生时计入当期损益或相关资产的成本。
本公司 2017 年 1 月 1 日至 2017 年 6 月 30 日止期间应分别向养老保险、失业保险计划缴存费用人民币
6,006,989.62 元及人民币 227,540.94 元(2016 年 1 月 1 日至 2016 年 6 月 30 日止期间：人民币 5,429,102.07
元及人民币 275,880.00 元)。于 2017 年 6 月 30 日，本公司尚有人民币 97,368.18 元及人民币 4,815.88 元
(2016 年 12 月 31 日：人民币 47,869.18 元及人民币 4,815.88 元)的应缴存费用是于本报告期间到期而未支
付给养老保险及失业保险计划的。有关应缴存费用已于报告期后支付。
19、应交税费
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
个人所得税 114,346.08 339,275.63
房产税 72,731.95 72,731.94
其他 1,989,469.86 7,581,695.43
合计 2,176,547.89 7,993,703.00
20、其他应付款
(1) 其他应付款明细如下：
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
预提重大资产置换及附属交易涉及税金 58,623,448.29 58,623,448.29
经营周转款 51,015,806.32 41,144,059.40
应付股权收购项目中介机构费用 9,181,243.88 10,655,224.85
应付时尚之旅股权受让款 9,796,303.25 9,796,303.25
预提费用 7,808,725.86 7,410,516.59
代垫款 1,430,442.36 2,348,193.04
应付维也纳酒店及百岁村餐饮收购尾款 - 174,960,000.00
其他 20,024,960.75 18,356,426.34
合计 157,880,930.71 323,294,171.76
155
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
20、其他应付款 - 续
(2) 本报告期末账龄超过 1 年的大额其他应付款情况的说明。
本财务报告期末，账龄超过 1 年的的大额其他应付款包括：
本公司预提尚未支付的最终金额尚需待相关税金的清算工作完成后确定的重大资产置换及附属交易涉及
税金人民币 58,623,448.29 元。
本公司应付时尚之旅股权转让款余额人民币 9,796,303.25 元，该股权转让款余额作为交易保证金将于时
尚之旅瑕疵物业等事项解除后进行支付。
(3) 除(2)中所述项目外，本财务报告期末本公司的其他应付款主要系与日常经营有关的预提租金等费用、
代垫款项、定金和押金等零星款项。
21、长期借款
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
质押借款(注 1) 4,920,000,000.00 4,920,000,000.00
信用借款(注 2) 3,000,000,000.00 3,000,000,000.00
合计 7,920,000,000.00 7,920,000,000.00
减：一年内到期的长期借款 220,000,000.00 120,000,000.00
一年后到期的长期借款 7,700,000,000.00 7,800,000,000.00
注 1：本财务报告期末，本公司从中国进出口银行融入质押借款人民币 4,920,000,000.00 元，其中一年内
到期借款为人民币 220,000,000.00 元。该借款以子公司 Keystone 81.0034%股权作为质押。借款期
限自 2016 年 2 月 18 日至 2022 年 2 月 18 日，年利率为浮动利率，本财务报告期内平均利率为 3.25%。
注 2：本财务报告期末，本公司分别从中国建设银行股份有限公司上海浦东分行、上海农村商业银行股
份有限公司、中国银行股份有限公司上海市国贸中心支行获得人民币借款，金额分别为人民币
1,900,000,000.00 元、人民币 500,000,000.00 元、人民币 600,000,000.00 元，年利率均为浮动利率，
本财务报告期内利率范围在 3.895%至 4.275%。
22、其他非流动负债
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
政府补助 4,785,000.00 5,127,650.00
减：一年内到期的其他非流动负债 739,750.00 739,750.00
一年后到期的其他非流动负债 4,045,250.00 4,387,900.00
涉及政府补助的项目：
人民币元
本期新增 本期计入 与资产相关
负债项目 期初余额 期末余额
补助金额 其他收益金额 /与收益相关
新城饭店项目扶持基金 5,127,650.00 - 342,650.00 4,785,000.00 与资产相关
合计 5,127,650.00 - 342,650.00 4,785,000.00
156
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
23、其他综合收益
人民币元
本期发生额
2016 年 减：前期计入其 2017 年
项目 本期所得税前 减： 税后归属于母公
12 月 31 日 他综合收益当期 6 月 30 日
发生额 所得税费用 司所有者
转入损益
以后将重分类进损益的其他综合收益 496,039,633.30 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) 391,821,608.97
其中：可供出售金融资产公允价值变
492,539,289.34 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) 388,321,265.01
动损益
权益法下在被投资单位以后将
重分类进损益的其他综合收益 3,500,343.96 - - - - 3,500,343.96
中享有的份额
合计 496,039,633.30 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) 391,821,608.97
24、营业收入、营业成本
(1) 营业收入、营业成本
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日 2016 年 1 月 1 日至 2016 年 6 月 30 日
行业名称 止期间 止期间
收入 成本 收入 成本
主营业务 115,948,040.50 14,713,938.82 78,175,534.71 9,964,392.46
其他业务 997,683.42 571,428.60 727,108.62 590,476.20
合计 116,945,723.92 15,285,367.42 78,902,643.33 10,554,868.66
(2) 主营业务(分行业)
人民币元
2017 年 1 月 1 日至 2017 年 6 月 30 日 2016 年 1 月 1 日至 2016 年 6 月 30 日
行业名称 止期间 止期间
营业收入 营业成本 营业收入 营业成本
有限服务型酒店营运及管理业务
其中：客房 96,191,069.01 - 62,840,487.25 -
餐饮 8,747,652.96 7,138,220.99 5,191,508.68 3,926,028.67
商品销售 6,966,564.88 6,617,634.72 5,681,906.51 5,519,323.31
其他 4,042,753.65 958,083.11 4,461,632.27 519,040.48
合计 115,948,040.50 14,713,938.82 78,175,534.71 9,964,392.46
(3) 来自前五名客户的营业收入情况
人民币元
占公司全部营业收
客户名称 营业收入
入的比例(%)
青芒果贸易(深圳)有限公司 557,170.00 0.48
上海杨浦唐宫海鲜舫有限公司 497,166.32 0.42
上海赫程国际旅行社有限公司 485,536.10 0.42
上海晶英汇餐饮有限公司 466,032.50 0.40
北京趣拿软件科技有限公司 444,787.00 0.38
合计 2,450,691.92 2.10
157
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
25、按性质分类的成本与费用
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
商品成本 14,713,938.82 9,964,392.46
职工薪酬 66,199,193.74 48,650,365.39
其中：工资和薪金 51,460,403.47 34,226,907.54
社会保险费 9,039,957.72 8,441,236.61
住房公积金 2,245,964.00 2,129,671.00
福利费 2,391,678.14 2,095,688.33
其他费用 1,061,190.41 1,756,861.91
能源及物料消耗 9,759,193.53 9,894,857.45
折旧与摊销 22,041,949.47 5,256,374.75
经营租赁费用 14,160,994.58 18,679,254.33
维修和维护费 1,572,950.17 1,147,509.21
房产税及其他税费附加 - 5,652,623.40
中介机构费用 8,061,669.10 18,423,359.96
广告费 3,413,656.18 1,356,834.02
其他 24,822,703.77 24,720,310.28
营业成本、销售费用及管理费用合计 164,746,249.36 143,745,881.25
26、财务费用
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
利息支出 200,037,584.35 228,108,880.73
减﹕利息收入 110,022,324.63 107,895,698.94
汇兑差额 10,019,349.47 (6,994,255.10)
其他 925,112.15 941,487.10
合计 100,959,721.34 114,160,413.79
27、投资收益
(1) 投资收益明细情况
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
权益法核算的长期股权投资收益 52,153,017.11 48,821,164.65
成本法核算的长期股权投资收益 177,720,000.00 196,846,000.00
持有可供出售金融资产期间取得的投资收益 71,095,362.61 73,025,197.50
处置可供出售金融资产取得的投资收益 86,659,256.47 206,426,728.39
其他 5,353,705.03 839,012.90
合计 392,981,341.22 525,958,103.44
158
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
27、投资收益 - 续
(2) 按权益法核算的长期股权投资收益(损失)
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
被投资单位 2017 年 6 月 30 日 2016 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
上海肯德基 56,616,425.56 45,812,247.38 因营业收入增加，本期盈利高于上期
新亚富丽华 3,699,099.74 2,879,467.78 因营业收入增加，本期盈利高于上期
新鹿餐饮 133,721.14 129,449.49 本期盈利基本与上期持平
齐程网络 (8,296,229.33) - 本期投资设立
合计 52,153,017.11 48,821,164.65
(3) 按成本法核算的长期股权投资收益
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
被投资单位 2017 年 6 月 30 日 2016 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
锦江之星 130,000,000.00 170,000,000.00 本期股利分配低于上期
卢浮亚洲 47,000,000.00 26,000,000.00 本期股利分配高于上期
锦江食品 720,000.00 846,000.00 本期股利分配与上期持平
合计 177,720,000.00 196,846,000.00
(4) 持有可供出售金融资产期间取得的投资收益
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
被投资单位 2017 年 6 月 30 日 2016 年 6 月 30 日 本期比上期增减变动的原因
止期间 止期间
杭州肯德基有限公司 38,964,078.50 29,157,567.86 宣告发放股利有所增加
长江证券股份有限公司 7,950,000.00 26,600,000.00 宣告发放股利有所减少
苏州肯德基有限公司 15,461,142.53 10,780,761.00 宣告发放股利有所增加
无锡肯德基有限公司 7,125,239.26 4,691,549.98 宣告发放股利有所增加
申万宏源证券股份有限公司 1,496,956.40 1,663,284.90 宣告发放股利有所减少
其他 97,945.92 132,033.76
合计 71,095,362.61 73,025,197.50
(5) 处置可供出售金融资产取得的投资收益
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
可供出售金融资产名称 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
长江证券(股票代码：000783) 86,659,256.47 206,426,728.39
159
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
28、现金流量表项目注释
(1) 支付其他与投资活动有关的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
为股权收购项目支付的中介机构费用 6,353,619.89 8,007,520.10
股权收购定金及预付款 - 680,000,000.00
预计收回股权收购款 - 473,750,000.00
合计 6,353,619.89 1,161,757,520.10
(2) 收到其他与筹资活动有关的现金
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
用于借款质押的定期存款利息收入 55,310,295.96 19,364,837.12
用于借款质押的定期存款到期收回 1,417,068,000.00 -
合计 1,472,378,295.96 19,364,837.12
29、现金流量表补充资料
(1) 现金流量表补充资料
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
补充资料 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
1．将净利润调节为经营活动现金流量：
净利润 243,619,780.24 344,179,859.49
加：计提资产减值准备 36,320.87 21,186.48
固定资产折旧 7,879,467.43 3,319,084.50
无形资产摊销 1,179,886.57 1,175,095.57
长期待摊费用摊销 12,982,595.47 762,194.68
处置固定资产、无形资产和其他长期资产的损失 778.30 10,468.29
财务费用 116,370,240.43 137,667,047.48
投资损失(收益) (392,981,341.22) (525,958,103.44)
递延所得税资产减少(增加) 627,447.90 (1,426,500.22)
存货的减少(增加) (402,627.56) 1,887,137.42
经营性应收项目的减少(增加) 37,106,498.13 (26,142,497.97)
经营性应付项目的增加(减少) 29,129,477.34 (27,784,311.90)
经营活动产生的现金流量净额 55,548,523.90 (92,289,339.62)
2．不涉及现金收支的重大投资和筹资活动：
融资租入固定资产 - -
3．现金及现金等价物净变动情况：
现金的期末数 1,352,008,610.07 3,127,468,324.66
减：现金的期初数 2,827,562,677.11 2,289,364,648.62
加：现金等价物的期末数 - -
减：现金等价物的期初数 - -
现金及现金等价物净增加(减少)额 (1,475,554,067.04) 838,103,676.04
160
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
29、现金流量表补充资料 - 续
(2) 现金和现金等价物的构成
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日
一、现金 1,352,008,610.07 2,827,562,677.11
其中：库存现金 273,271.25 255,824.40
可随时用于支付的银行存款 1,351,735,338.82 2,827,306,852.71
二、现金等价物 - -
三、期末现金及现金等价物余额 1,352,008,610.07 2,827,562,677.11
30、关联方及关联交易
(1) 本公司的子公司、联营公司的基本情况及相关信息详见附注(七)，本公司的其他关联方的基本情况及
相关信息详见附注(十)。
(2) 购销商品、提供和接受劳务的关联交易
采购商品/接受劳务情况表：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
关联方 关联交易内容 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
锦江之星 采购物品 1,383,801.16 2,219,219.60
食品公司 采购食品 - 8,657.18
上海锦江国际酒店物品有限公司 采购酒店物品 5,987.60 2,839.20
小计 1,389,788.76 2,230,715.98
(3) 关联租赁情况
本公司作为出租方：
人民币元
承租方名称 租赁资产种类 本期确认的租赁收入 上期确认的租赁收入
锦亚餐饮 物流中心及共和新路店销售店铺 731,016.73 780,180.18
闵行饭店 房屋租赁 457,142.88 146,928.44
小计 1,188,159.61 927,108.62
本公司作为承租方：
人民币元
出租方名称 租赁资产种类 本期确认的租赁费 上期确认的租赁费
金沙江大酒店(注) 经营区域 - 5,038,607.22
南华亭酒店(注) 经营区域 4,070,080.86 4,089,584.90
白玉兰宾馆(注) 经营区域 4,229,649.60 4,017,495.30
锦江国际 办公区域及经营区域 1,317,062.85 1,230,777.13
上海锦江国际投资管理有限公司 经营区域 642,765.72 -
上海东锦江大酒店有限公司 办公区域 5,811.72 299,789.00
上海锦江物业管理公司 办公区域 78,765.71 48,512.00
小计 10,344,136.46 14,724,765.55
注：有关本公司与南华亭酒店、金沙江大酒店及白玉兰宾馆的租赁的详情参见附注(十)5(3)。
161
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
30、关联方及关联交易 - 续
(4) 关联受托经营情况
有关本公司与锦江酒店集团及青年会大酒店的受托经营详情参见附注(十)5(3)。
(5) 关联方资金拆借
本财务报告期间发生额及于 2017 年 6 月 30 日余额：
人民币元
关联方 拆借金额 起始日 到期日 说明
拆入
财务公司 200,000,000.00 2016 年 2 月 18 日 2017 年 2 月 3 日 信用借款
财务公司 100,000,000.00 2016 年 12 月 20 日 2017 年 2 月 3 日 信用借款
财务公司 100,000,000.00 2016 年 12 月 20 日 2017 年 6 月 1 日 信用借款
财务公司 400,000,000.00 2016 年 12 月 20 日 2017 年 5 月 31 日 信用借款
财务公司 200,000,000.00 2017 年 1 月 17 日 2017 年 6 月 19 日 信用借款
财务公司 100,000,000.00 2017 年 2 月 4 日 2017 年 5 月 31 日 信用借款
卢浮亚洲 50,000,000.00 2016 年 6 月 17 日 2017 年 6 月 16 日 委托借款
小计 1,150,000,000.00
人民币元
关联方 拆借金额 起始日 到期日 说明
拆出
锦亚餐饮 4,000,000.00 2016 年 1 月 27 日 2017 年 1 月 26 日 委托贷款
锦亚餐饮 5,000,000.00 2016 年 4 月 12 日 2017 年 4 月 11 日 委托贷款
锦亚餐饮 3,000,000.00 2016 年 5 月 11 日 2017 年 5 月 10 日 委托贷款
新亚食品 1,000,000.00 2016 年 1 月 26 日 2017 年 1 月 26 日 委托贷款
锦亚餐饮 4,500,000.00 2016 年 7 月 12 日 2017 年 7 月 11 日 委托贷款
时尚之旅 20,000,000.00 2016 年 8 月 11 日 2017 年 6 月 21 日 委托贷款
时尚之旅 280,000,000.00 2016 年 8 月 11 日 2019 年 8 月 10 日 委托贷款
小计 317,500,000.00
本公司与关联方之间资金拆借产生的利息费用和利息收入列示如下：
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
利息支出 13,030,499.99 18,517,560.36
利息收入 3,770,337.83 3,929,547.34
本公司将部分结算资金或闲置资金存入财务公司，期末余额及本期交易额列示如下：
人民币元
财务公司 2017 年 6 月 30 日 2016 年 12 月 31 日
期末存款余额 376,105,530.64 375,892,371.70
162
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
30、关联方及关联交易 - 续
(5) 关联方资金拆借 - 续
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
财务公司 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
期内累计存入财务公司的存款资金 2,381,971,305.77 2,511,339,004.39
期内累计从财务公司取出的存款资金 2,381,758,146.83 1,946,071,506.93
(6) 本财务报告期内本公司无关联方资产转让和债务重组。
(7) 本财务报告期内本公司并无其他关联交易。
(8) 关联方应收应付项目
i) 应收项目
人民币元
2017 年 6 月 30 日 2016 年 12 月 31 日
项目名称 关联方
账面余额 坏账准备 账面余额 坏账准备
应收账款 锦江国际及其下属企业 196,575.90 - 963,484.48 -
应收账款 锦江酒店集团及其下属企业 - - 12,280.00 -
应收账款 锦江之星 - - 25,984.00 -
应收账款 锦亚餐饮 - - 49,650.07 -
应收账款 新亚食品 - - 31,034.09 -
小计 196,575.90 - 1,082,432.64 -
其他应收款 锦江酒店集团及其下属企业 13,427.11 - 45,702.81 -
其他应收款 锦江之星 9,268,780.08 - 7,606,414.38 -
其他应收款 旅馆投资 648,423.03 - 474,261.93 -
其他应收款 达华宾馆 47,735,046.40 - 47,664,404.70 -
其他应收款 闵行饭店 25,386,432.78 - 30,556,658.78 -
其他应收款 锦盘酒店 1,369,807.71 - 1,369,807.71 -
其他应收款 卢浮亚洲 8,608,813.82 - 7,948,661.70 -
其他应收款 餐饮投资 29,088.33 - 29,088.33 -
其他应收款 锦亚餐饮 2,400,000.00 - 1,800,000.00 -
其他应收款 新亚食品 22,772.70 - 5,014.50 -
其他应收款 成套设备 3,278,337.51 - 3,278,337.51 -
其他应收款 锦卢投资 - - 2,690,773.41 -
其他应收款 Keystone 161,403.10 - - -
其他应收款 锦江国际及其下属企业 31,105.70 - - -
小计 98,953,438.27 - 103,469,125.76 -
应收利息 财务公司 12,280,000.00 - 9,880,000.00 -
应收利息 时尚之旅 295,558.66 - 348,337.00 -
应收利息 锦亚餐饮 4,350.00 - 17,545.00 -
应收利息 新亚食品 - - 1,063.33 -
小计 12,579,908.66 - 10,246,945.33 -
其他流动资产 锦亚餐饮 4,500,000.00 - 16,500,000.00 -
其他流动资产 新亚食品 - - 1,000,000.00 -
小计 4,500,000.00 - 17,500,000.00 -
其他非流动资产 时尚之旅 280,000,000.00 - 300,000,000.00 -
小计 280,000,000.00 - 300,000,000.00 -
长期应收款 新亚食品 10,328,000.00 - 10,328,000.00 -
小计 10,328,000.00 - 10,328,000.00 -
163
上海锦江国际酒店发展股份有限公司
财务报表附注
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
30、关联方及关联交易 - 续
(8) 关联方应收应付项目 - 续
ii) 应付项目
人民币元
项目名称 关联方 2017 年 6 月 30 日 2016 年 12 月 31 日
应付账款 锦江国际及其下属企业 3,778,366.06 3,954,498.36
应付账款 锦江酒店集团及其下属企业 1,610,000.00 16,369.07
应付账款 青年会大酒店 920,000.00 -
小计 6,308,366.06 3,970,867.43
其他应付款 锦江国际及其下属企业 388,791.55 312,491.04
其他应付款 锦江酒店集团及其下属企业 496,893.16 996,943.32
其他应付款 上海锦江国际酒店物品有限公司 3,539.79 3,057.39
其他应付款 上海锦江旅游有限公司 - 18,360.00
其他应付款 青年会大酒店 160,295.30 154,012.40
其他应付款 白玉兰宾馆 129,281.20 166,758.65
其他应付款 锦江之星 45,436,608.39 36,189,993.91
其他应付款 旅馆投资 5,579,197.93 4,390,709.18
其他应付款 闵行饭店 - 19,025.80
其他应付款 达华宾馆 6,567.87 212,994.99
其他应付款 卢浮亚洲 299,106.78 286,435.53
其他应付款 锦亚餐饮 - 2,376.00
其他应付款 新亚食品 - 13,099.00
其他应付款 成套设备 192,935.63 380,451.33
小计 52,693,217.60 43,146,708.54
应付利息 财务公司 - 850,666.67
应付利息 卢浮亚洲 - 46,750.00
小计 - 897,416.67
***财务报表结束***
164
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
1、当期非经常性损益明细表
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日 2016 年 6 月 30 日
止期间 止期间
非流动资产处置收益(损失) 939,609.33 6,976,911.56
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
18,100,017.83 31,026,515.03
定额或定量享受的政府补助除外)
计入当期损益的对非金融企业收取的资金占用费 - -
企业取得子公司、联营企业及合营企业的投资成本小于取得投资时应
- -
享有被投资单位可辨认净资产公允价值产生的收益
非货币性资产交换损益 - -
委托他人投资或管理资产的损益 - -
因不可抗力因素，如遭受自然灾害而计提的各项资产减值准备 - -
债务重组损益 - -
企业重组费用，如安置职工的支出、整合费用等 - -
交易价格显失公允的交易产生的超过公允价值部分的损益 - -
同一控制下企业合并产生的子公司期初至合并日的当期净损益 - -
与公司正常经营业务无关的或有事项产生的损益 - -
除同公司正常经营业务相关的有效套期保值业务外，持有以公允价值
计量且其变动计入当期损益的金融资产、交易性金融负债产生的公允
86,659,256.47 206,373,718.01
价值变动损益，处置以公允价值计量且其变动计入当期损益的金融资
产、交易性金融负债和可供出售金融资产取得的投资收益
单独进行减值测试的应收款项减值准备转回 - -
对外委托贷款取得的损益 - -
采用公允价值模式进行后续计量的投资性房地产公允价值变动产生
- -
的损益
根据税收、会计等法律、法规的要求对当期损益进行一次性调整对当
111,688,518.33 -
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 2,314,022.83 22,040,481.29
子公司处置收益 33,507,766.71 -
其他符合非经常性损益定义的损益项目 - -
所得税影响额 (37,613,303.06) (68,946,410.81)
少数股东权益影响额(税后) (2,604,202.08) (941.94)
合计 212,991,686.36 197,470,273.14
非经常性损益明细表编制基础
根据中国证券监督管理委员会《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益[2008]》的
规定，非经常性损益是指与公司正常经营业务无直接关系，以及虽与正常经营业务相关，但由于其性质特殊和
偶发性，影响报表使用人对公司经营业绩和盈利能力作出正确判断的各项交易和事项产生的损益。
165
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
2、净资产收益率及每股收益
本净资产收益率和每股收益计算表是上海锦江国际酒店发展股份有限公司(以下简称“锦江股份”)按照中国证券
监督管理委员会颁布的《公开发行证券公司信息披露编报规则第 09 号-净资产收益率和每股收益的计算及披露》
(2012 年修订)的有关规定而编制的。
人民币元
加权平均净资产 每股收益
加权平均净资产
报告期利润 收益率 基本每股收益 稀释每股收益(注)
(%) (人民币元)
归属于公司普通股股东的净利润 3.22 12,820,208,747.29 0.4306 不适用
扣除非经常性损益后归属于公司普通股股东的
1.56 12,820,208,747.29 0.2082 不适用
净利润
注：本公司并不存在稀释性潜在普通股。
166
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表
为方便报表使用者阅读并比较本公司有限服务型酒店业务分部 2017 年 6 月 30 日与 2016 年 12 月 31 日的资产负
债变动状况、2017 年 1 月 1 日至 2017 年 6 月 30 日止期间和 2016 年 1 月 1 日至 2016 年 6 月 30 日止期间的经营
成果、现金流量情况及有限服务型酒店业务分部的客房运营数据，本公司编制了后附的有限服务型酒店业务分
部汇总会计报表和客房运营报表。本有限服务型酒店业务分部汇总会计报表并未对有限服务型酒店业务分部与
本公司其他业务分部间的交易和往来余额进行抵销。本汇总会计报表和客房运营报表仅供报表使用者参考。
有限服务型酒店业务分部汇总资产负债表
人民币元
项目 2017 年 6 月 30 日 2016 年 12 月 31 日 项目 2017 年 6 月 30 日 2016 年 12 月 31 日
流动资产： 流动负债：
货币资金 3,902,767,042.26 3,578,128,066.16 短期借款 23,177,065.36 927,927,127.66
衍生金融资产 - - 衍生金融负债 5,175,221.63 6,158,207.57
应收票据 - - 应付票据 - -
应收账款 871,445,354.72 617,362,882.35 应付账款 1,908,447,484.88 2,001,592,100.05
预付款项 263,031,064.46 309,059,260.65 预收款项 710,551,993.00 667,206,082.69
应收利息 1,246,431.69 1,527,160.43 应付职工薪酬 715,015,963.38 645,973,422.45
应收股利 583,606.88 549,887.85 应交税费 388,470,962.47 320,133,016.19
其他应收款 490,354,796.13 452,587,227.17 应付利息 15,522,012.35 14,065,948.36
存货 67,323,207.10 72,689,514.36 应付股利 131,733,120.00 -
一年内到期的非流动
9,247,960.85 9,000,000.00 其他应付款 1,175,807,523.49 922,916,840.47
资产
一年内到期的非流动
其他流动资产 269,316,639.34 300,917,664.84 6,056,689,598.17 2,955,199,327.56
负债
流动资产合计 5,875,316,103.43 5,341,821,663.81 其他流动负债 - -
流动负债合计 11,130,590,944.73 8,461,172,073.00
非流动资产： 非流动负债：
可供出售金融资产 548,777,912.60 548,799,612.46 长期借款 5,510,325,523.38 7,430,470,530.53
持有至到期投资 - - 长期应付款 151,164,139.83 145,511,003.10
长期应收款 - - 长期应付职工薪酬 57,686,524.56 49,009,564.56
长期股权投资 141,171,892.89 110,604,449.99 预计负债 32,440,189.51 49,921,877.75
投资性房地产 - - 递延所得税负债 2,288,141,983.10 2,360,410,176.66
固定资产 6,828,279,395.75 6,754,616,910.19 其他非流动负债 160,364,082.58 117,626,648.42
在建工程 577,417,406.14 671,575,784.78 非流动负债合计 8,200,122,442.96 10,152,949,801.02
工程物资 - - 负债合计 19,330,713,387.69 18,614,121,874.02
固定资产清理 - - 股东权益：
生产性生物资产 - - 股本 3,166,586,811.68 3,166,586,811.68
油气资产 - - 资本公积 4,111,461,597.90 4,111,461,597.90
无形资产 7,388,101,196.83 7,329,977,249.15 其他综合收益 (360,344,018.73) (411,719,453.74)
开发支出 - - 盈余公积 135,917,315.79 135,917,315.79
商誉 11,370,524,107.39 10,914,544,764.35 未分配利润 3,496,304,224.75 3,317,109,248.98
长期待摊费用 2,874,807,236.78 2,975,504,530.48 母公司拨款 5,888,566,417.75 5,866,332,590.30
归属于有限服务型酒
递延所得税资产 618,375,660.93 549,835,761.49 店业务分部所有者权 16,438,492,349.14 16,185,688,110.91
益合计
其他非流动资产 83,039,556.26 85,242,307.80 少数股东权益 536,604,732.17 482,713,049.57
非流动资产合计 30,430,494,365.57 29,940,701,370.69 股东权益合计 16,975,097,081.31 16,668,401,160.48
资产总计 36,305,810,469.00 35,282,523,034.50 负债和股东权益总计 36,305,810,469.00 35,282,523,034.50
167
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表 - 续
有限服务型酒店业务分部汇总利润表
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目
2017 年 6 月 30 日止期间 2016 年 6 月 30 日止期间
一、营业总收入 6,164,466,726.67 4,247,333,545.83
自有和租赁酒店 4,710,202,080.96 3,456,018,952.02
加盟和管理酒店 1,454,264,645.71 791,314,593.81
营业收入总额 6,164,466,726.67 4,247,333,545.83
减：税金及附加 106,316,874.41 78,612,621.84
营业收入净额 6,058,149,852.26 4,168,720,923.99
营业成本和费用：
自有和租赁酒店成本
租金 910,716,713.20 621,598,207.41
能源 299,107,063.39 268,182,518.10
人工成本 1,165,210,471.38 902,870,596.38
折旧 350,258,922.88 283,238,691.94
摊销 356,110,739.73 277,191,154.04
消耗用品、食品和饮料 265,748,967.96 196,520,473.85
其他 1,026,357,684.92 665,456,442.60
自有和租赁酒店成本合计 4,373,510,563.46 3,215,058,084.32
销售和市场费用 332,647,475.09 102,022,429.16
加盟管理酒店人工成本 234,564,852.45 27,018,678.90
一般行政管理费用 669,845,847.96 534,480,546.05
开办费 7,380,847.51 8,640,545.22
全部营业成本和费用合计 5,617,949,586.47 3,887,220,283.65
二、来自营业的利润 440,200,265.79 281,500,640.34
利息收入 10,269,901.35 7,807,830.74
利息支出 110,451,181.55 111,936,969.88
其他非营业收入 83,464,577.43 65,302,444.82
其他非营业支出 26,599,200.48 13,220,494.11
三、利润总额 396,884,362.54 229,453,451.91
所得税费用 17,367,822.62 92,754,722.69
四、净利润 379,516,539.92 136,698,729.22
减：少数股东收益 38,704,240.75 4,909,829.90
归属于有限服务型酒店业务分部的净利润 340,812,299.17 131,788,899.32
168
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表 - 续
有限服务型酒店业务分部汇总现金流量表
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目
2017 年 6 月 30 日止期间 2016 年 6 月 30 日止期间
一、经营活动产生的现金流量：
销售商品、提供劳务收到的现金 6,310,052,342.85 4,319,707,031.13
收到的税费返还 4,473,060.00 15,952,197.30
收到其他与经营活动有关的现金 142,436,051.50 28,213,153.86
经营活动现金流入小计 6,456,961,454.35 4,363,872,382.29
购买商品、接受劳务支付的现金 1,345,924,096.37 943,718,802.54
支付给职工以及为职工支付的现金 1,891,377,202.95 1,258,248,081.80
支付的各项税费 422,627,680.43 268,756,209.82
支付其他与经营活动有关的现金 1,434,535,861.36 1,025,864,132.50
经营活动现金流出小计 5,094,464,841.11 3,496,587,226.66
经营活动产生的现金流量净额 1,362,496,613.24 867,285,155.63
二、投资活动产生的现金流量：
收回投资收到的现金 61,993,884.56 60,983,718.70
取得投资收益收到的现金 2,699,406.95 4,242,857.82
处置固定资产、无形资产和其他长期资产收回的现金
10,391,618.59 8,790,807.52
净额
处置子公司及其他营业单位收到的现金净额 725,901.20 -
收到其他与投资活动有关的现金 45,000,000.00 -
投资活动现金流入小计 120,810,811.30 74,017,384.04
购买子公司和其他经营单位支付的现金 243,782,874.09 138,888,388.73
处置子公司及其他营业单位支付的现金净额 689,279.31 -
购建固定资产、无形资产和其他长期资产支付的
477,916,946.72 410,450,314.22
现金
投资所支付的现金 1,150,002.00 54,375,457.62
支付其他与投资活动有关的现金 - 27,689,331.20
投资活动现金流出小计 723,539,102.12 631,403,491.77
投资活动产生的现金流量净额 (602,728,290.82) (557,386,107.73)
三、筹资活动产生的现金流量：
吸收投资收到的现金 - 22,538,570.00
其中：子公司吸收少数股东投资收到的现金 - 22,538,570.00
取得借款收到的现金 4,663,431,860.49 1,200,000,000.00
收到其他与筹资活动有关的现金 40,146,122.08 131,146,460.95
筹资活动现金流入小计 4,703,577,982.57 1,353,685,030.95
偿还债务支付的现金 4,977,456,566.03 1,412,341,287.62
分配股利、利润或偿付利息支付的现金 143,246,630.61 130,811,216.56
其中：子公司支付给少数股东的股利、利润 1,425,231.93 236,043.43
支付其他与筹资活动有关的现金 61,533,494.72 47,891,718.93
筹资活动现金流出小计 5,182,236,691.36 1,591,044,223.11
筹资活动产生的现金流量净额 (478,658,708.79) (237,359,192.16)
四、汇率变动对现金及现金等价物的影响 50,489,914.91 30,054,183.36
五、现金及现金等价物净增加额 331,599,528.54 102,594,039.10
加：期初现金及现金等价物余额 3,564,047,289.77 2,832,704,093.93
六、期末现金及现金等价物余额 3,895,646,818.31 2,935,298,133.03
169
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表 - 续
有限服务型酒店业务分部息税折旧摊销前利润表
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目
2017 年 6 月 30 日止期间 2016 年 6 月 30 日止期间
归属于有限服务型酒店分部的净利润 340,812,299.17 131,788,899.32
利息收入 10,269,901.35 7,807,830.74
利息费用 110,451,181.55 111,936,969.88
所得税费用 17,367,822.62 92,754,722.69
折旧 363,075,486.52 286,547,481.66
摊销 402,802,360.19 281,232,205.65
息税折旧摊销前的利润(EBITDA) 1,224,239,248.70 896,452,448.46
息税折旧摊销前的利润占营业收入的比重(%) 19.86 21.11
汇兑损益 (6,258,956.31) (83,226.72)
开办费 7,380,847.51 8,640,545.22
调整后息税折旧摊销前的利润(EBITDA) 1,237,879,052.52 905,176,220.40
调整后息税折旧摊销前的利润占营业收入的比重(%) 20.08 21.31
有限服务型酒店业务分部成本费用表
人民币元
2017 年 1 月 1 日至 2016 年 1 月 1 日至
项目 2017 年 6 月 30 日止期间 2016 年 6 月 30 日止期间
金额 占营业收入(%) 金额 占营业收入(%)
营业收入 6,164,466,726.67 100.00 4,247,333,545.83 100.00
酒店营业成本 4,373,510,563.46 70.94 3,215,058,084.32 75.70
销售和市场费用 332,647,475.09 5.40 102,022,429.16 2.40
加盟管理酒店人工成本 234,564,852.45 3.81 27,018,678.90 0.64
一般行政管理费用 669,845,847.96 10.86 534,480,546.05 12.58
开办费 7,380,847.51 0.12 8,640,545.22 0.20
全部营业成本和费用 5,617,949,586.47 91.13 3,887,220,283.65 91.52
170
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表 - 续
锦江都城、锦江之星、金广快捷和百时快捷品牌客房运营表(第二季度)
截止至 2016 年 6 月 30 日 截止至 2017 年 3 月 31 日 截止至 2017 年 6 月 30 日
开业酒店数量(家)
自有和租赁酒店 282 289 290
加盟和管理酒店 820 875 892
全部开业酒店 1,102 1,164 1,182
开业酒店全部客房数量(间)
自有和租赁酒店 38,885 40,019 40,011
加盟和管理酒店 92,037 97,564 99,355
全部开业酒店 130,922 137,583 139,366
全部签约酒店数量(家)
自有和租赁酒店 309 308 311
加盟和管理酒店 1,058 1,085 1,098
全部签约酒店 1,367 1,393 1,409
全部签约酒店客房数量(间)
自有和租赁酒店 43,018 42,813 43,200
加盟和管理酒店 115,888 118,861 120,388
全部签约酒店 158,906 161,674 163,588
2016 年第二季度 2017 年第一季度 2017 年第二季度
客房出租率(%)
自有和租赁酒店 77.49 70.93 79.60
加盟和管理酒店 78.05 71.80 79.92
全部开业酒店 77.88 71.54 79.82
平均房价(人民币元/间)
自有和租赁酒店 193.05 187.57 197.46
加盟和管理酒店 183.57 176.91 184.36
全部开业酒店 186.43 180.07 188.26
每间可供客房提供的客房收入
(人民币元/间)
自有和租赁酒店 149.59 133.04 157.18
加盟和管理酒店 143.28 127.02 147.34
全部开业酒店 145.19 128.82 150.27
171
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表 - 续
麗枫、喆啡、IU、七天系列、派和铂涛集团其他品牌客房运营表(第二季度)
截止至 2016 年 6 月 30 日 截止至 2017 年 3 月 31 日 截止至 2017 年 6 月 30 日
开业酒店数量(家)
自有和租赁酒店 482 472 454
加盟和管理酒店 2,312 2,661 2,804
全部开业酒店 2,794 3,133 3,258
开业酒店全部客房数量(间)
自有和租赁酒店 49,884 48,717 46,923
加盟和管理酒店 191,648 213,900 223,178
全部开业酒店 241,532 262,617 270,101
全部签约酒店数量(家)
自有和租赁酒店 492 488 481
加盟和管理酒店 3,191 3,801 4,090
全部签约酒店 3,683 4,289 4,571
全部签约酒店客房数量(间)
自有和租赁酒店 50,830 50,798 50,008
加盟和管理酒店 261,243 309,846 335,472
全部签约酒店 312,073 360,644 385,480
2016 年第二季度 2017 年第一季度 2017 年第二季度
客房出租率(%)
自有和租赁酒店 87.35 72.47 82.17
加盟和管理酒店 82.83 76.76 81.96
全部开业酒店 83.80 75.94 81.99
平均房价(人民币元/间)
自有和租赁酒店 143.82 151.48 150.23
加盟和管理酒店 148.71 157.01 156.29
全部开业酒店 147.62 156.04 155.20
每间可供客房提供的客房收入
(人民币元/间)
自有和租赁酒店 125.63 109.78 123.44
加盟和管理酒店 123.18 120.52 128.10
全部开业酒店 123.71 118.50 127.25
172
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表 - 续
维也纳皇家、维也纳国际、维也纳酒店、维也纳智好、维也纳 3 好品牌客房运营表(第二季度)
截止至 2017 年 3 月 31 日 截止至 2017 年 6 月 30 日
开业酒店数量(家)
自有和租赁酒店 51 51
加盟和管理酒店 476 530
全部开业酒店 527 581
开业酒店全部客房数量(间)
自有和租赁酒店 12,460 12,460
加盟和管理酒店 70,919 79,200
全部开业酒店 83,379 91,660
全部签约酒店数量(家)
自有和租赁酒店 56 57
加盟和管理酒店 1,006 1,225
全部签约酒店 1,062 1,282
全部签约酒店客房数量(间)
自有和租赁酒店 14,039 14,399
加盟和管理酒店 143,015 172,047
全部签约酒店 157,054 186,446
2017 年第一季度 2017 年第二季度
客房出租率(%)
自有和租赁酒店 89.67 96.94
加盟和管理酒店 83.03 89.26
全部开业酒店 84.05 90.36
平均房价(人民币元/间)
自有和租赁酒店 269.23 277.68
加盟和管理酒店 230.32 235.91
全部开业酒店 236.69 242.32
每间可供客房提供的客房收入
(人民币元/间)
自有和租赁酒店 241.42 269.18
加盟和管理酒店 191.24 210.57
全部开业酒店 198.94 218.96
173
补充资料
2017 年 1 月 1 日至 2017 年 6 月 30 日止期间
3、有限服务型酒店业务分部汇总会计报表和客房运营报表 - 续
Première Classe、Campanile、Kyriad 系列、Golden Tulip 系列品牌客房运营表(第二季度)
截止至 2016 年 6 月 30 日 截止至 2017 年 3 月 31 日 截止至 2017 年 6 月 30 日
开业酒店数量(家)
自有和租赁酒店 280 283 282
加盟和管理酒店 903 997 994
全部开业酒店 1,183 1,280 1,276
开业酒店全部客房数量(间)
自有和租赁酒店 21,322 21,686 21,528
加盟和管理酒店 77,961 86,477 86,432
全部开业酒店 99,283 108,163 107,960
全部签约酒店数量(家)
自有和租赁酒店 282 287 283
加盟和管理酒店 960 1,058 1,057
全部签约酒店 1,242 1,345 1,340
全部签约酒店客房数量(间)
自有和租赁酒店 21,598 22,325 21,651
加盟和管理酒店 86,744 94,833 93,092
全部签约酒店 108,342 117,158 114,743
2016 年第二季度 2017 年第一季度 2017 年第二季度
客房出租率(%)
自有和租赁酒店 72.77 61.61 73.72
加盟和管理酒店 61.16 55.31 64.70
全部开业酒店 63.92 56.57 66.01
平均房价(欧元/间)
自有和租赁酒店 56.20 51.45 54.76
加盟和管理酒店 60.63 61.09 61.30
全部开业酒店 59.43 56.90 57.56
每间可供客房提供的客房收入
(欧元/间)
自有和租赁酒店 40.90 31.70 40.37
加盟和管理酒店 37.08 33.79 39.66
全部开业酒店 37.99 32.19 38.00
174
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Company Code: 600754,900934 Abbreviated Name: JINJIANG SHARES, JINJIANG B-Share
Shanghai Jin Jiang International Hotels Development Co., Ltd.
2017 Semiannual
Important Notice
I. The Board of Directors and Board of Supervisors of the Company and all its members and senior
management ensure that the information contained in this Report are free from any false statement,
misrepresentation or significant omission and will bear the joint and several liabilities for the
truth, accuracy and completeness of the contents of the Report is free from any false statement,
misrepresentation or significant omission and will bear the joint and several liabilities for the truth,
accuracy and completeness of the contents of the Report.
II. The 41st Meeting of the 8th Session of Board of Directors of the Company approved the annual
report on 29 August 2017. All directors attended the board meeting.
III. The financial statements for the six-month period ended 30 June 2017 prepared in accordance
with Accounting Standards for Business Enterprises are reviewed by Deloitte Touche Tohmatsu
CPA LLP. and issued a review report with unqualified opinion for these financial statements (De
Shi Bao (Yue) Zi (17)No. R00069).
IV. Mr. Yu Minliang, Chairman of Board and legal representative of the Company, Mr. Zhang
Xiaoqiang, Chief Executive Officer (“CEO”), Ms. Shen Li, person in charge of accounting
function of the Company and Ms. Wu Lin, person in charge of accounting department, declare to
guarantee the authenticity, accuracy and integrity of the financial statements in this Annual Report.
V. The plan of profit distribution and surplus converted to share capital during the reporting period
discussed by the board
None.
VI. Risk statement of prospective description
√ Applicable □Not applicable
The prospective description such as plans and development strategy in the semiannual shouldn't
be considered as any substantive commitment to the investors. Please pay attention to the
investment risk.
1
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
VII. Has the Company had any non-operating funds been occupied by the holding shareholder and its
related parties?
No.
VIII. Has the Company had provided any guarantees violating the stipulated decision-making process?
No.
IX. Significant risk notice
The industry risk and market risk have been elaborated in the Report. Please review the content on
Management Discussion and Analysis.
X. Others
√ Applicable □Not applicable
The semiannual is published in Chinese and English respectively. Should there be any
inconsistency between the Chinese and English versions, the Chinese version shall prevail.
2
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Content
I. Definition 4
II. Basic Information of the Company and Key Financial Indicators 6
III. General Information of Company Business 9
IV. Operation Discussion and Analysis 12
V. Significant Events 35
VI. Changes of Share Capital and Particulars of Shareholders 46
VII. Preferred stock 49
VIII. Directors, Supervisors and Senior Management 50
IX. Corporate Bond 51
X. Financial Statements 52
XI. Document for Reference 53
3
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section I Definition
1. Definition
In this report, the words below had the meanings as following except for other requirements.
Commonly used words
Company/ the company/ Jin
as Shanghai Jin Jiang International Hotels Development Co., Ltd.
Jiang Hotels
Shanghai Jin Jiang International Hotels(Group) Co., Ltd., the holding
Jin Jiang Hotels Group as
company of the Jin Jiang hotels
Jin Jiang International (Holdings) Co., Ltd., the ultimate holding company
Jin Jiang International as
of Jin Jiang Hotels and Jin Jiang Hotels Group
Jin Jiang Capital as Shanghai Jinjiang Capital Management Co., Ltd.
Shanghai Jinjiang Louvre Asia Hotel Management Co., Ltd., formerly
Louvre Asia as named as
Shanghai Jinjiang Metropolo Hotel Management Co., Ltd.,
Jin Jiang Inn as Jin Jiang Inn Co., Ltd.
Hotels Investment as Shanghai Jin Jiang International Hotels Investment Co., Ltd.
Goldmet Inn as Shanxi Goldmet Inn Management Co., Ltd.
Smartel as Smartel Management Co., Ltd.
Jin Lu Investment as Shanghai Jin Lu investment management Co., Ltd.(Jin Lu investment)
Sailing Investment as Sailing Investment Co. SARL, registered in Luxembourg
Group de Louvre, GDL as Group du Louvre, registered in France
Louvre Hotels Group, LHG as Group de Louvre, registered in France
Plateno Group as Keystone Lodging Holdings Limited and its subsidiaries
Vienna Hotel as Vienna Hotel Co., Ltd.
Da Hua Hotel as Shanghai Jin Jiang Da Hua Hotel Co., Ltd.
Minhang Hotel as Shanghai Minhang Hotel Co., Ltd.
Jin Pan Hotel as Shanghai Jin Pan Hotel Co., Ltd
Shanghai Jin Jiang International Hotels Development Co., Ltd. East Asia
East Asia Hotel as
Hotel
Shanghai Jin Jiang International Hotels Development Co., Ltd. Nanjing
Nanjing Hotel as
Hotel
Xincheng Hotel as Shanghai Jin Jiang International Hotels (Group) Co., Ltd. Xincheng Hotel
New Asia Hotel as Shanghai Jin Jiang International Hotels (Group) Co., Ltd. New Asia Hotel
Shanghai Jin Jiang International Hotels (Group) Co., Ltd. Huating Guest
Huating Guest House as
House
Jinshajiang Hotel as Shanghai Jin Jiang International Hotels (Group) Co., Ltd. Jinshajiang Hotel
Shanghai Jin Jiang International Hotels (Group) Co., Ltd. MAGNOTEL
MAGNOTEL Hotel as
Hotel
Marvel Hotel as Shanghai Jin Jiang International Hotels (Group) Co., Ltd. Marvel Hotel
Catering Investment as Shanghai Jin Jiang International Catering Investment Co., Ltd.
New Asia Food as Shanghai New Asia Food Co., Ltd.
Jinjiang Food as Shanghai Jinjiang International Food & Catering Management Co., Ltd.
Jinzhu Catering as Shanghai Jinzhu Catering Management Co., Ltd.
Jinya Catering as Shanghai Jinya Catering Management Co., Ltd.
Jin Jiang Tung Lok as Shanghai Jin Jiang Tung Lok Catering Management Inc.
Shanghai Yoshinoya as Shanghai Yoshinoya Co., Ltd.
Shanghai KFC as Shanghai Kentucky Fried Chicken Co., Ltd.
New Asia Fulihua as Shanghai New Asia Fulihua Catering Co., Ltd.
Hangzhou KFC as Hangzhou Kentucky Fried Chicken Co., Ltd.
Wuxi KFC as Wuxi Kentucky Fried Chicken Co., Ltd.
Suzhou KFC as Suzhou Kentucky Fried Chicken Co., Ltd.
Jing An Bakery as Shanghai Jing An Bakery Co., Ltd.
Longevity Village Catering as Shenzhen Longevity Village Catering Co., Ltd.
WeHotel as Shanghai Qicheng Network Technology Co., Ltd.
4
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Sarovar as Sarovar Hotels Private Limited
Finance Company as Jin Jiang International Finance Co., Ltd.
Changjiang Securities as Changjiang Securities Co., Ltd.
Shenwan Hongyuan as Shenwan Hongyuan Group Co., Ltd.
Hony Capital (Shanghai) Equity Investment Fund Center (Limited
Hony Capital as
Partnership)
Guosheng Investment as Shanghai Guosheng Group Investment Co., Ltd.
GW Asset Management as China Great Wall Asset Management Corporation
HuaAn Asset Management as HuaAn Future Asset Management (Shanghai) Co., Ltd.
SIG Asset Management as SIG Asset Management Co., Ltd.
CSRC as China Securities Regulatory Commission
SSE as Shanghai Stock Exchange
SEHK as The Stock Exchange of Hong Kong Ltd.
Shanghai State-Owned Assets Supervision and Administration
SHSAC as
Commission of Shanghai Municipal Government
Company law as The Company Law of The People's Republic of China
Securities law as The Securities Law of The People's Republic of China
Occupancy rate as Actual occupied rooms/total Available guest room×100%, %
Average Price as Total room revenue/Actual occupied rooms, RMB/room
Daily revenue arising from daily per available room, average room revenue
RevPAR as
=average daily room rate× average occupancy rate, RMB/day
EBITDA as Earnings Before Interest, Taxes, Depreciation and Amortization
Articles of the Company as Articles of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Reporting period, the current
period,
as 01/01/2017-30/06/2017, 30/06/2017
the end of the reporting
period
the same period of last year,
last period, the end of last as 01/01/2016-30/06/2016, 31/12/2016
year
RMB, RMB'0000 as RMB, RMB0000
5
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section II Basic Information of the Company and Key Financial Indicators
I. Information of the Company
Chinese legal name 上海锦江国际酒店发展股份有限公司
Abbreviation for Chinese legal name 锦江股份
English name Shanghai Jin Jiang International Hotels Development Co., Ltd.
Abbreviation for English name JINJIANG SHARES
Legal representative Mr. Yu Minliang
II. Contact person and contacts
Secretary to the Company's
Securities Deputy
Board of Directors
Name Ms. Hu Min Ms. Yang Jie
25th Floor, No.100 Yan'an Road 25th Floor, No.100 Yan'an Road
Contact address
East, Shanghai East, Shanghai
Telephone: 86-21-63217132 86-21-63217132
Fax: 86-21-63217720 86-21-63217720
E-mail: JJIR@jinjianghotels.com JJIR@jinjianghotels.com
III. Basic Introduction
4th Floor, No.889, South Yang Gao Road,
Registered address Pu Dong New District, Shanghai,
People's Republic of China (District B)
Zip code of the registered address 200127
Business address 25th Floor, No.100 Yan'an Road East, Shanghai
Zip code of business address 200002
Internet website address http://www.jinjianghotels.sh.cn
E-mail JJIR@jinjianghotels.com
Query index for changes
during the reporting period
IV. Information disclosure and changes in venue for preparation and storage
Name of newspapers for
Shanghai Securities News, Ta Kung Pao
information disclosure
Internet website address designated
by the CSRC for the publication http://www.sse.com.cn
of the semiannual report
Venue for semiannual preparation and storage Secretarial Office to the Company's Board of Directors
6
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
V. Brief of the stock
The Stock of the Company
Abbreviation before
Stock Type Stock exchange Abbreviation Stock code
changing
A share Shanghai Stock Exchange Jinjiang A-Share 600754 New Asia Shares
B share Shanghai Stock Exchange Jinjiang B-Share 900934 New Asia B Shares
VI. Other Related Information
□Applicable √Not applicable
VII. Principal accounting data and financial indicators of the Company
(I) Principal accounting data
Unit: RMB
Current reporting The same period Flux compared to
period of last year the same
Principal accounting data
(From Jan to June (From Jan to June period of last year
2017) 2016) (%)
Operating income 6,289,013,150.53 4,368,181,085.26 43.97
Net profit for the year attributed to
412,453,689.41 299,157,333.01 37.87
shareholders of the Company
Net profit attributable to shareholders of
the Company, net of non-recurring profit 199,462,003.05 101,687,059.87 96.15
or loss
Net cash flows from operating activities 1,397,211,235.52 762,561,844.39 83.23
End of this End of last year Flux (%) compared
reporting period (31 December to
(30 June 2017) 2016) previous year
Net assets attributable to shareholders of
12,666,382,892.58 12,801,182,452.07 -1.05
the Company
Total assets 42,286,403,042.61 44,196,065,201.81 -4.32
(II) Principal financial indicators
Current reporting The same period Flux compared to
period of last year the same
Principal financial indicators
(From Jan to June (From Jan to June period of last year
2017) 2016) (%)
Basic earnings per share (RMB/share) 0.4306 0.3718 15.81
Diluted earnings per share (RMB/share ) N/A N/A N/A
Basic earnings per share after net of
0.2082 0.1264 64.72
non-recurring profit or loss ( RMB/share )
Decreased by 0.50
Weighted average ROE (%) 3.22 3.72
percentage
Weighted average ROE net of non-recurring Increased by 0.30
1.56 1.26
profit or loss(%) percentage
7
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Exchange rate
30 June 2017 31 December 2016 30 June 2016
USD 1 to RMB 6.7744 6.9370 6.6312
EUR 1 to RMB 7.7496 7.3068 7.3750
HKD 1 to RMB 0.86792 0.89451 0.85467
Note: Exchange rate refers to the mean price of a foreign currency exchanging RMB in the
interbank foreign exchange market released by CFETS as authorized by China Peoples
Bank.
Illustration of Principal accounting highlights and financial indicators of the Company
□Applicable √Not applicable
VIII. The differences of accounting highlights under domestic and overseas accounting standards
□Applicable √Not applicable
IX. Items and amounts of non-recurring profit or loss
√Applicable □Not applicable
Unit: RMB
Non-recurring profit or loss Amount Note (if applicable)
Profit or loss on disposals of non-current assets 939,609.33
Government grants recognized in profit and loss
for the current year, except for those acquired in
Government grants awarded to Jin
the ordinary course of business or granted at 18,100,017.83
Jiang Inn and Louvre Asia
certain quotas or amounts according to the
countrys unified standards
Profit or loss on changes in fair value of held-for-
trading financial assets and liabilities, as well as
investment income from disposal of tradable
Investment income arising from
financial assets and held-for-trading financial
86,659,256.47 disposal of shares of Changjiang
assets and liabilities and available-for-sale
Securities
financial assets, except for effective hedging
business related to normal businesses of the
Company
Influences on the current profit or loss due to one- Influences on income tax expenses due
off adjustment on profit or loss pursuant to laws 111,688,518.33 to the adjustment of income tax rate
and regulations in respect of laws and accounting. applicable to Group de Louvre
Non-operating income and expense other than the
2,314,022.83
aforementioned items
Investment income arising from
The disposal proceeds of the subsidiary 33,507,766.71 disposal of Plateno Group and Group
de Louvre
Net profit attributable to minority interest -2,604,202.08
Enterprise income tax that shall be paid
due to the disposal of shares of
Changjiang Securities, obtainment of
Tax effect of non-recurring profit or loss -37,613,303.06
government grants, disposal of
subsidiaries and adjustment of French
enterprise income tax rate
Total 212,991,686.36
X. Others
□Applicable √Not applicable
8
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section III General Information of Company Business
1. General information of Company's Principal activities, operating model and industry
conditions during the reporting period
During the reporting period, Company specializes in “limited service hotel operation and
management”, and “business of food and catering”.
Limited service hotel refer to hotels that provide professional services for guests, featuring
accommodation as the core products to the broad masses of people with distinct functionalities in
equipment, organizations and restaurant services compared with full service. The operation and
management of the Company's present limited service hotels include investing and managing
limited service business hotels and economy hotels etc. with the operating model being divided
into "direct- managed" and "franchised-operated". Through direct-managed model, the Company
obtains revenue, by independently operating the subsidiary hotels through either self-owned
property or financing leased property, mainly from guest rooms and catering with entitlement or
obligation to profit or loss as well. Through franchise model, the Company grants permission to
use its management of resources within the agreed lease term including brands, registered
trademarks operating models etc. to the franchised hotel through a franchise agreement with the
owner of the franchised hotel and then collect room reservation service fee. Entrusted
management form refers to the operating model that the company signs an agreement with the
hotel owner to put into its operating model, service specification, quality standards with
managerial personnel with the purpose to collect hotel management fee and room reservation
service fee.
The Company's present catering business, including investment and operation management in
restaurants, is divided into the direct management model and Franchise model. Through direct-
managed model, the company obtains catering revenue, by independently operating the subsidiary
restaurants through financing leased property, from the direct-managed restaurants with
entitlement or obligation to profit or loss as well.
Franchised model is practiced through franchised-operated and entrust management. Through
franchise model, the company grants permission to use its management of resources within the
agreed lease term including brands, registered trademarks operating models etc. to the franchised
hotel through a franchise agreement with the owner of the franchised hotel and then collects room
reservation service fee. Entrusted management form refers to the operating model that the
company signs an agreement with the restaurant owner to put into its operating model, service
specification, quality standards with managerial personnel with the purpose to collect
management fee etc. Kentucky and Yoshinoya, subsidiaries of the Company's joint venture, are
under franchised model as joint ventures.
According to Q2 classification of listing Corporation industry of 2015, the Company is classified
to H61 of Hotel industry, which belongs to the H class of Catering and Accommodation. Hotel
industry, also called hospitality industry, provides lodging on a short-term basis. Some for lodging
only, others for full-service containing accommodations, restaurants, entertainment and business,
excluding lodging paid on monthly or yearly basis. According to National Economy Industry
Classification (GB/T4754-2011) issued by State Statistical Bureau, the Company is classified as a
tourist hotel with corporate code of H6110.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Closely related to tourism industry and commerce activities, the hotel industry is mainly for
tourism, business activities, the conference host and Convention and exhibition. The tourism
industry is the most dynamic and promising among third industry, the status of tourism in
national economy have been consolidated and improved.
2. Remarks on significant changes during reporting period
□Applicable √Not applicable
3. Analysis of core-competitiveness in the reporting period
√Applicable □Not applicable
With over 20 years' efforts, the Company has been forming and improving its core-
competitiveness. In accordance with the overall goals of development strategy, the Company will
make further efforts to enhance the advantages in management, brand, network and talent, and to
build and consolidate the leading position in limited service hotel market.
During the reporting period, the company has improved their core competitiveness to make it
greater and stronger, by the following main measures and achievements gained are as follows:
Guided by “Thirteen-Five” strategy plan, the Company established Shanghai Jinjiang Louvre Asia
Hotel Management Co., Ltd. in the first half year of 2017 by persisting the driven mode of
“excellent operation of capital business” in accordance with the guideline of “unchanged
foundation, integrated background, complementary advantages and common development”,
which means the prelude of an overall deep integration of limited service hotel section.
As of 30 June 2017, the Company has had 126.48 million members in total.
In 2017, in the 17th session of the China hotel golden horse awards ceremony, the Chinese hotel
industry conference organizing committee awarded "Vienna Hotel" the title of "the most popular
Chinese national hotel brand group with consumers"; "Vienna International" and "Jin Jiang
Metropolo" the title of "China's most valuable hotel brands"; "Plateno Group" the title of "China's
new hotel brands"; “Hilton Huan Friends " the title of “China's most valuable mid-range hotel
brand”; “π” the title of “ the most popular hotel brand with customers” and the title of "China's
most development potential hotel”; “7 Days” the title of “ Chinas best chain budget hotel”; and
“7 Days Premium” the title of "budget hotel top ten influential brand in 2016".
At the 2017 Asian hotel BBS annual meeting and the 12th China hotel starlight award ceremony,
Jin Jiang Metropolo and “IU” got the title of "Chinas most valuable hotel chain brand";";"Jin
Jiang Metropolo " won the award for the" best mid-range hotel brand in China ";"Plateno Group"
won the most popular new hotel brand in China”; "Hilton Huan Friends" brand won the award for
the" international brand of the most popular mid-range hotel brand in China "; and “7 Days” was
awarded the title of “Chinas best chain budget hotel:.
China Hotel Association awarded “IU” the title of “most popular hotel with young people in
China”; and "Vienna Hotel" the title of “top ten chain hotel brand”. Meanwhile, "Vienna Hotel"
was also selected as in the name list of top 20 mid-range chain hotels in China.
Michael points awarded "Jin Jiang Metropolo" brand the title of “top ten influential budget hotel
brand", the prize of “brand operation star in hotel industry” and the prize of “brand operation
popularity in hotel industry”; “Goldmet Inn” and “Bestay Hotel Express” the title of “top ten
influential fair-price hotel brand”; “7 Days” the title of “top ten influential budget hotel; and
Vienna Hotel Group the title of “ the first prize of most influential mid-range limited service hotel
brand in MBI hotel industry”.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Tourism professional media “TTG CHINA-Tourism Newspaper” awarded “Jin Jiang Inn” the title
of “best budge hotel in Greater China Region. In the Chinese Customer Satisfaction Survey
initiated by China National Institute of Standardization and Tsinghua University, “Jin Jiang Inn”
won the first prize in the category of express hotel. In 2017 BrandZ, “Jin Jiang Inn” was
selected in the scope of “Top 100 valuable China Brand”.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section IV Operation Discussion and Analysis
1. Operation Discussion and Analysis
In the first half year of 2017, at the unswervingly implementation of the development strategy of “Global
layout and multinational operation”, the Company has completed the major tasks of the first half year to a
better extent by actively taking integration measures such as change and strengthening operation
management.
From January to June 2017, the Company realized: consolidated operating income of RMB
6,289.01 million, with a growth of 43.97% over the same period of last year; operating profit of
RMB 481.54 million with a growth of 33.69% over the same period of last year; net profit
attributable to shareholders of listed companies of RMB 412.45 million with a period-on-period
growth of 37.87%.; and net profit attributable to shareholders of listed companies after deducting
non-recurring profit or loss of RMB 199.46 million with 96.15% higher than that in the same
period of last year.
As at 30 June 2017, the Company had total assets of RMB 42,286.40 million, total liabilities of
RMB 28,049.40 million and total equity attributable to shareholders of listed companies of RMB
12,666.38 million, decreasing 4.32%,6.12% and 1.05 % respectively, comparing with the data at
the end of last year.
From January to June 2017, the Company realized RMB 1,397.21 million net cash flow from
operating activities, with a period-on-period growth of 83.23%.
In the reporting period, comparing with the same period and the end of last year, factors causing
changes in the Companys major accounting data can be summarized as below:
The increase in consolidated operating income comparing with the same period of last year is
mainly influenced by three factors: (1) Plateno Group which was included in the consolidation
scope of the financial statements in March 2016 has added two months of operating income on a
year-on-year basis in the first half year; (2) Vienna Hotel and Longevity Village Catering which
were included in the consolidation scope of the financial statements in July 2016 has added six
months of operating income on a year-on-year basis in the first half year; (3) Operating incomes
of Louvre Asia, Jin Jiang Inn and GDL have increased on a year-on-year basis.
The increase in net profit attributable to shareholders of listed companies with the same period of
last year is mainly influenced by five factors: (1) Plateno Group and Vienna Hotel, over which the
control right has been obtained by the Company through acquisition have contributed the
Company profits after excluding factors such as new loan interests arising from the acquisition of
control right of Plateno Group and Vienna Hotel; (2) The Company completed a private offering
of shares in August 2016, resulting in a decrease in the payment of loan interest expenses; (3) The
Companys investment income from Shanghai KFC, Hangzhou KFC, Suzhou KFC, and Wuxi
KFC increased comparing with the same period of last year; (4) Income tax expenses levied to
GDL decreased due to the down-regulation of enterprise income tax rate applicable to GDL;(5)
The Companys pre-tax operating income from disposal of shares of Changjiang Securities
decreased comparing with the same period of last year.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
The deduction in total assets comparing with those at the end of last year mainly resulted from the
decrease of fair value of Changjiang Securities at the end of the reporting period, and the increase
of distributed profits for the first half year in 2017 comparing with that in 2016. The deduction in
total liabilities comparing with those at the end of last year mainly resulted from the Companys
repayment of bank loans in the reporting period and the impact of the down-regulation of
enterprise income tax rate applicable to GDL on deferred tax expenses. The deduction in equity
attributable to owners of listed companies at the end of the period mainly resulted from the
decrease of fair value of available-for-sale financial assets at the end of the period and the
increase of distributed profits for the first half year in 2017 comparing with that in 2016.
The growth of the Companys net cash flow from operating activities mainly resulted from the
addition of two-month net cash flow from operating activities contributed by Plateno Group
which was included in the consolidation scope of the financial statements in March 2016 on a
year-on-year basis in the first half year, and the addition of six-month net cash flow from
operating activities contributed by Vienna Hotel and Longevity Village Catering which were
included in the consolidation scope of the financial statements in July 2016 on a year-on-year
basis in the first half year.
Information of Limited Service Business Hotels
1. Global hotel business development
From January to June 2017, limited service hotel business realized consolidated operating income
of RMB 6,164.21 million, a year-on-year growth of 45.14% over the same period of last year, and
achieved net profits attributable to limited service hotel business segment of RMB 340.81million,
a year-on-year growth of 158.60% over the same period of last year.
Limited service hotel business achieved operating incomes of RMB 4,370.28 million in the
mainland China and RMB 1,793.92 million outside the mainland China, with a year-on-year
growth of 72.44% and a year-on-year growth of 4.74% over the same period of last year
respectively. Operating income from the mainland China accounted for 70.90% of the total
operating income in hotel businesses whereas that from oversea accounted for 29.10%.
In the consolidated operating income, income for the first franchise authorization is RMB 223.81
million, a year-on-year growth of 210.24% over the same period of last year; income for the
renewal of franchise authorization is RMB 880.1 million, a year-on-year growth of 39.98 % over
the same period of last year; and income from central reservation system channel sales is RMB
46.11 million, a year-on-year growth of 80.33 % over the same period of last year.
The increase in consolidated operating income comparing with the same period of last year is
mainly contributed by (1) the addition of two-month operating income from Plateno Group which
was included in the consolidation scope of the financial statements in March 2016 on a year-on-
year basis in the first half year; (2) the addition of six-month operating income from Vienna Hotel
and Longevity Village Catering which were included in the consolidation scope of the financial
statements in July 2016 on a year-on-year basis in the first half year; and (3) the increase in
operating incomes of Louvre Asia, Jin Jiang Inn and GDL on a year-on-year basis.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
The increase in net profits attributable to limited service hotel business segment comparing with
the same period of last year is mainly contributed by (1) the gradual contribution of profits to the
Company by Plateno Group and Vienna Hotel whose control rights have been obtained through
acquisition, and (2) the impact of the down-regulation of enterprise income tax rate applicable to
GDL on deferred tax expenses.
From January to June 2017, there is a net increase of 429 limited service chain hotels, including a
decrease of 16 directly managed hotels and an increase of 445 franchise hotels. As of 30 June
2017, the number of limited service chain hotels in operation is 6,297, including 1,077 directly
managed hotels, accounting for 17.10%; and 5,220 franchise hotels, accounting for 82.90%.
Limited service chain hotels have 609,087 rooms in total, including 120,922 rooms operated by
directly managed hotels, accounting for 19.85%, and 488,165 rooms operated by franchise hotels,
accounting for 80.15%.
From January to June 2017, there is a net increase of 982 contracted limited service chain hotels,
including a decrease of 6 directly managed hotels and an increase of 988 franchise hotels. As of
30 June 2017, the number of contracted limited service chain hotels had reached 8,602, including
1,132 directly managed hotels, accounting for 13.16%; 7,470 franchise hotels, accounting for
86.84%. The contracted limited service chain hotels have total 850,257 rooms, including 129,258
rooms operated by directly managed hotels, accounting for 15.20%, and 720,999 rooms operated
by franchise hotels, accounting for 84.80%.
As of 30 June 2017, the Companys limited service chain hotels have located in 551 cities of 31
provinces, autonomous regions and municipalities directly under the central government in China,
and 67 countries or regions outside of mainland China.
2. Information of limited service business hotel operation by geographical location
(1) business operation in mainland China
From January to June 2017, the Companys limited service hotel chain business in
mainland China realized consolidated operating income of RMB 4,370.28 million, a year-
on-year growth of 72.44% over the same period of last year; achieved net profits
attributable to owners of the Company of RMB 191.3 million, a year-on-year growth of
131.54 % over the same period of last year. In the consolidated operating income, income
for the first franchise authorization is RMB 223.81 million, a year-on-year growth of
210.24% over the same period of last year; income for the renewal of franchise
authorization is RMB 452.46 million, a year-on-year growth of 88 % over the same period
of last year; and income from central reservation system channel sales is RMB 46.11
million, a year-on-year growth of 80.33 % over the same period of last year.
The increase in consolidated operating income comparing with the same period of last
year is mainly contributed by (1) the addition of two-month operating income from
Plateno Group which was included in the consolidation scope of the financial statements
in March 2016 on a year-on-year basis in the first half year; (2) the addition of six-month
operating income from Vienna Hotel and Longevity Village Catering which were included
in the consolidation scope of the financial statements in July 2016 on a year-on-year basis
in the first half year; and (3) the increase in operating incomes of Louvre Asia, Jin Jiang
Inn and GDL on a year-on-year basis.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
The increase in net profits attributable to net profits of the Company comparing with the
same period of last year is mainly contributed by the gradual contribution of profits to the
Company by Plateno Group and Vienna Hotel whose control rights have been obtained
through acquisition,
The table below presents the number of the Companys limited service hotels and rooms
within mainland China as of 30 June 2017:
Operated Hotels Contracted Hotels
Provinces
Directly- Directly-
(autonomous Franchise Franchise
Number managed managed
regions
of cities Number Number Number Number Number Number Number Number
or
of of of of of of of of
municipalities)
hotels rooms hotels rooms hotels rooms hotels rooms
Beijing 1 46 5,966 248 22,784 50 6,379 315 28,928
Tianjin 1 13 1,800 102 8,920 14 1,955 153 12,964
Hebei 29 5 674 193 15,013 5 674 289 23,004
Shanxi 21 20 2,473 90 7,780 22 2,878 130 11,365
Inner 14 1 128 50 4,704 1 128 79 7,463
Mongolia
Liaoning 18 28 3,601 98 9,501 28 3,601 128 12,121
Jilin 13 13 1,672 35 3,294 13 1,672 62 6,232
Heilongjiang 9 8 843 46 3,871 8 843 72 6,400
Shanghai 1 60 8,224 209 25,056 73 10,454 260 30,962
Jiangsu 50 63 7,272 399 37,162 69 8,166 562 52,793
Zhejiang 34 34 4,702 125 12,220 37 5,116 197 20,919
Anhui 26 14 1,720 91 7,277 15 1,830 167 14,229
Fujian 16 17 2,154 72 7,445 17 2,154 106 11,022
Jiangxi 21 30 3,356 125 11,589 30 3,356 195 19,257
Shandong 41 20 2,224 309 27,108 21 2,339 476 41,901
Henan 27 8 1,324 168 15,762 10 1,813 238 23,209
Hubei 23 44 5,276 152 14,186 45 5,386 247 24,300
Hunan 26 54 5,707 143 13,832 56 5,913 248 25,629
Guangdong 31 164 22,688 710 79,171 172 23,966 1,099 124,934
Guangxi 14 16 2,358 83 9,900 16 2,358 192 24,584
Hainan 8 9 1,075 40 4,354 9 1,075 63 7,425
Chongqing 1 15 1,750 99 7,581 15 1,750 136 10,620
Sichuan 34 39 4,668 199 16,133 39 4,668 292 24,258
Guizhou 14 18 1,813 101 9,363 18 1,813 151 14,956
Yunnan 18 9 958 57 4,616 10 1,164 92 8,295
Xizang 5 2 218 11 1,136 2 218 15 1,426
Shaanxi 10 23 2,604 134 12,688 25 2,789 185 17,979
Gansu 17 5 470 48 4,077 5 470 89 8,481
Qinghai 4 4 267 33 2,706 4 267 51 4,301
Ningxia 5 4 522 20 1,867 4 522 35 3,297
Xinjiang 19 5 580 37 2,474 7 829 68 5,092
Total 551 791 99,087 4,227 403,570 840 106,546 6,392 628,346
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
(2) Business operation outside of mainland China
From January to June 2017, the Companys limited service hotel chain business outside of
mainland China realized consolidated operating income of EUR 241.89million, a year-on-
year growth of 2.55% over the same period of last year; achieved net profits attributable to
owners of the Company of EUR 20.05 million, a year-on-year growth of 196.16 % over
the same period of last year.
The increase in consolidated operating income comparing with the same period of last
year is mainly contributed by the acquisition of 74% equity in India Sarovar by GDL and
inclusion of India Sarovar in the consolidation scope of financial statements. The increase
in net profits attributable to net profits of the Company is mainly contributed by the
impact of the down-regulation of enterprise income tax rate applicable to GDL on deferred
tax expenses.
The table below presents the number of the Companys limited service hotels and rooms
outside of mainland China as of 30 June 2017:
Overseas opened hotels Overseas contracted hotels
directly-managed franchise directly-managed franchise
Overseas Number Number Number Number
Number Number Number Number
of of of of
of hotels of hotels of hotels of hotels
rooms rooms rooms rooms
Europe 283 21,557 729 50,776 289 22,434 748 52,468
Including:
France 196 14,083 640 40,901 196 14,083 658 42,474
Asia 2 208 179 19,742 2 208 229 24,557
America - - 36 6,743 - - 37 7,003
Africa 1 70 49 7,334 1 70 64 8,625
Total 286 21,835 993 84,595 292 22,712 1,078 92,653
3. Information of limited service business hotel operation by brands
From January to June 2017, the net increased number of the Companys limited service chain
hotels is 429, including increase of 2 "Jin Jiang Metropolo" brand chain hotels, increase of 41 "Jin
Jiang Inn" brand chain hotels, decrease of 4 "Bestay Hotel Express" brand chain hotels, decrease
of 1 “Première Classe” hotel; decrease of 2 "Campanile" brand chain hotels, decrease of 5
"Kyriad" series of brand chain hotels, decrease of 9 "Golden Tulip" series of brand chain hotels;
increase of 71"Sarovar" series of brand chain hotels; increase of 46 “Lavande” brand chain hotels,
increase of 14"James Joyce Coffetel " brand chain hotel, increase of 19 "IU" brand chain hotel,
increase of 40 " 7 Days " series of brand chain hotels, increase of 59 " π " brand chain hotels,
increase of 41 chain hotels of other brands under Plateno Group, increase of 41 “Vienna
International” brand chain hotels ", increase of 16 "Vienna Classic" brand chain hotels ", increase
of 44 Vienna Hotel" brand chain hotels, increase of 15"Vienna 3Best" brand chain hotels and 1
chain hotel of other brands under Vienna.
As of 30 June 2017, limited service chain hotels in operation has totaled in 6,297, including 45
"Jin Jiang Metropolo" brand chain hotels, 1,052"Jin Jiang Inn" brand chain hotels, 28 "Goldmet
Inn" brand chain hotels,56 "Bestay Hotel Express" brand chain hotels, 1"Campanile " brand chain
hotel, 263 "Premiere Classe" brand chain hotels, 377 "Campanile" brand chain hotels, 254
"Kyriad" series of brand chain hotels,, 311"Golden Tulip " series of brand chain hotels;
71"Sarovar" brand chain hotels, 215 "Lavande" brand chain hotels, 77 "James Joyce Coffetel"
brand chain hotels, 154 "IU" hotels, 2,464 "7 days" series of brand chain hotels, 222 "π" hotels,
16
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
126 brand chain hotels of other brands under Plateno Group; 3 “Venus Royal” brand chain hotels,
181 "Vienna International" brand chain hotels, 166 “Vienna Classic” brand chain hotels, 174 "
Vienna Hotel "brand chain hotels, 56" Vienna 3Best "brand chain hotels and 1 chain hotel of
other brands under Vienna.
As of 30 June 2017, contracted limited service chain hotels has totaled in 8,602, including 90 "Jin
Jiang Metropolo" brand chain hotels, 1,216 "Jin Jiang Inn" brand chain hotels, 42 "Goldmet Inn"
brand chain hotels, 57 "Bestay Hotel Express" brand chain hotels, 4"Campanile " brand chain
hotel, 269 "Premiere Classe" brand chain hotels, 383"Campanile" brand chain hotels, 261
"Kyriad" series of brand chain hotels,, 341"Golden Tulip " series of brand chain hotels;
86"Sarovar" brand chain hotels, 493 "Lavande" brand chain hotels, 199 "James Joyce Coffetel"
brand chain hotels, 208 "IU" hotels, 2,895 "7 days" series of brand chain hotels, 329"π"
hotels,447 brand chain hotels of other brands under Plateno Group; 6 “Venus Royal” brand chain
hotels, 372 "Vienna International" brand chain hotels, 263 “Vienna Classic” brand chain hotels,
420 " Vienna Hotel "brand chain hotels, 212" Vienna 3Best "brand chain hotels and 9 chain hotels
of other brands under Vienna.
RevPAR of "Jin Jiang Metropolo", "Jin Jiang Inn" and other brand series, and their year-
on-year comparison
The table below presents the RevPAR of "Jin Jiang Metropolo", "Jin Jiang Inn", "Goldmet Inn"
and "Bestay Hotel Express" from January to June 2017 and their year-on-year comparison:
Average occupancy
Average Room Rate RevPAR
rate
(RMB/room) (RMB/room)
(%)
Brand Increase
Jan to Jun Jan to Jun Jan to Jun Jan to Jun Jan to Jun Jan to Jun and
2017 2016 2017 2016 2017 2016 decrease
(%)
Jin Jiang
318.48 311.99 67.50 70.12 214.97 218.77 -1.74
Metropolo
Jin Jiang Inn 180.50 182.13 76.54 75.38 138.15 137.29 0.63
Goldmet Inn 153.80 151.97 67.15 56.79 103.28 86.30 19.68
Bestay Hotel
95.33 99.32 62.87 62.59 59.93 62.16 3.59
Express
Average 184.43 183.80 75.72 74.09 139.65 136.18 2.55
Note: As it has implemented the policy of "Replacement of Business Tax with Value-Added Tax"
since May 2016, the average room prices and RevPAR from January to June 2017 are exclusive
of turnover tax.
As of 30 June 2017, the aforementioned limited service chain hotels have located in 346 cities of
31 provinces, autonomous regions and municipalities directly under the central government in
China, and 3 countries or regions outside of mainland China.
RevPAR of “Lavande”, “James Joyce Coffetel” and other brand series
The table below presents the RevPAR of “Lavande”, “James Joyce Coffetel”, “IU”, “7 Days Inn”,
“π”, other brands of Plateno Group from January to June 2017:
17
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Average occupancy
Average Room Rate RevPAR
rate
(RMB/room) (RMB/room)
(%)
Brand Increase
Jan to Jun Jan to Jun Jan to Jun Jan to Jun Jan to Jun Jan to Jun and
2017 2016 2017 2016 2017 2016 decrease
(%)
Lavande 259.31 260.16 81.02 79.14 210.09 205.89 259.31
James Joyce
227.04 234.95 72.99 61.84 165.72 145.29 227.04
Coffetel
IU 162.81 164.93 83.71 81.14 136.29 133.82 162.81
7 Days Inn 138.36 141.52 79.52 83.05 110.02 117.53 138.36
π 129.80 135.37 74.18 78.34 96.29 106.05 129.80
Other brans 243.53 239.02 71.37 52.69 173.81 125.94 243.53
Average price 151.50 149.01 79.20 81.81 119.99 121.91 151.50
Note: As it has implemented the policy of "Replacement of Business Tax with Value-Added
Tax" since May 2016, the average room prices and RevPAR from January to June 2017
are exclusive of turnover tax.
As of 30 June 2017, the aforementioned limited service chain hotels have located in 457 cities of
31 provinces, autonomous regions and municipalities directly under the central government in
China, and 13 countries or regions outside of mainland China.
The RevPAR of “Venus Royal”, "Vienna international" and other brand series
The table below presents the RevPAR of “Venus Royal”, “Vienna international”, “Vienna
Classic”, “Vienna Hotel”, “Vienna 3Best”from January to June 2017.
Jan to Jun 2017 Jan to Jun 2017 Jan to Jun 2017
Vienna Brands Average room rate Average occupancy rate RevPAR
(RMB/room) (%) (RMB/room)
Venus Royal 312.87 56.37 176.36
Vienna International 253.51 86.23 218.60
Vienna Classic 238.05 89.03 211.94
Vienna Hotel 225.37 88.63 199.75
Vienna 3 Best 214.35 88.22 189.10
Other brands of Vienna 156.61 95.14 149.00
Average price 239.75 87.36 209.45
Note: As it has implemented the policy of "Replacement of Business Tax with Value-Added
Tax" since May 2016, the average room prices and RevPAR from January to June 2017
are exclusive of turnover tax.
As of 30 June 2017, the aforementioned limited service chain hotels have located in 249 cities of
31 provinces, autonomous regions and municipalities directly under the central government in
China, and 13 countries or regions outside of mainland China.
RevPAR of “Campanile”, “Golden Tulip” and other brand series
The table below presents the RevPAR of “Première Classe”, “Campanile”, “Kyriad” and “Golden
Tulip” from January to June 2017:
18
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Average occupancy
Average Room Rate RevPAR
rate
(EUR/room) (EUR/room)
(%)
Brand Increase
Jan to Jun Jan to Jun Jan to Jun Jan to Jun Jan to Jun Jan to Jun and
2017 2016 2017 2016 2017 2016 decrease
(%)
Première Classe 38.96 40.26 66.97 62.55 26.09 25.18 3.61
Campanile 57.95 59.14 65.06 62.87 37.70 37.18 1.40
Kyriad series 61.81 62.90 60.89 58.49 37.64 36.79 2.31
Golden Tulip
68.26 69.09 54.90 54.70 37.47 37.79 -0.85
Series
Average price 57.26 58.37 61.35 59.40 35.13 34.67 1.33
Note: As of 30 June 2017, the aforementioned limited service chain hotels have located in 12
cities of 9 provinces, autonomous regions and municipalities directly under the central
government in China, and 61 countries or regions outside of mainland China.
It is estimated that in the 3rd quarter of year 2017 the Company will achieved operating income of
RMB 3,361 million to RMB 3,716 million from all of its limited service chain hotel operation and
management businesses, of which the income from businesses in mainland China will be RMB
2,386 million to RMB 2,638 million, while the income from business outside of mainland China
will be EUR 130.8 million to EUR 144.6 million. In view of the various uncertainties in operation
processes, the estimated data may be different from the regular reporting data eventually, and
therefore such data is provided to investors for reference only.
Food and Catering Business
From January to June 2017, the Companys food and catering business has realized operating
income of RMB 124,72 million, a year-on-year growth of 3.07% over the same period of last year,
which is mainly affected by the increase in operating income of Jinjiang Food engaged in group
meal comparing with the same period of last year and the decrease in operating income of Jinya
Catering engaged in Chinese fast food chain shop together. Net profits attributable to the food and
catering business segment have been RMB 105.18 million, a year-on-year growth of 33.27% over
the same period of last year, which is mainly contributed by two factors: (1) The Companys
investment income from Shanghai KFC increased RMB 10.8 million comparing with the same
period of last year in the reporting report due to the increment of operating income of Shanghai
KFC; (2) it increased RMB 16.92 million for dividends distributed to the Company in 2016 from
Suzhou KFC, Wuxi KFC and Hangzhou KFC in which the Company accounts the investment
income under “cost method”.
The following presents the operating income of the food and catering enterprises in the first half
year of 2017 and the number of chain business stores as of 30 June 2017.
Shanghai Jinjiang International Food & Catering Management Co., Ltd., which is 100% held by
the Company, realized operating income of RMB 80.39 million in the first half year of 2017, with
a year-on-year growth of 9.46% over the same period of last year. At the end of the reporting
periods and the end of last year, it managed 60 and 55 group food restaurants respectively.
Shanghai Jinya Catering Management Co., Ltd., which is 100% held by the Company, realized
operating income of RMB 31.99 million in the first half year of 2017, fell by 4.17% over the same
period of last year. At the end of the reporting periods and the end of last year, it managed 30 and
31 chain stores respectively, including 3 snack shops.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Shanghai New Asia Food Co., Ltd., which is 100% held by the Company, realized operating
income of RMB 2.11 million in the first half year of 2017, with a year-on-year growth of 2.98%
over the same period of last year.
Shanghai Jinzhu Catering Management Co., Ltd., which is 100% held by the Company realized
operating income of RMB 3.14 million, fell by 44.89 % over the same period of last year. At the
end of the reporting periods and the end of last year, it had 2 and 1 restaurants respectively.
Shanghai Jin Jiang Tung Lok Catering Management Inc., in which the Company held 51% equity,
realized operating income of RMB 9.8 million, with a year-on-year increase of 7.81 % over the
same period of last year. At the end of the reporting periods, it had 2 restaurants, equal to the
number as of the end of last year.
Shanghai Yoshinoya Co.,Ltd., in which the Company held 42.815% equity, realized operating
income of RMB 19.59 million, with a year-on-year increase of 3.6 % over the same period of last
year. At the end of the reporting periods and the end of last year, it had 9 and 8 chain restaurants
respectively.
Shanghai Kentucky Fried Chicken Co., Ltd., in which the Company held 42% equity, realized
operating income of RMB 1,513.23 million, with a year-on-year increase of 3.01 % over the same
period of last year. At the end of the reporting periods and the end of last year, it had 304 and 306
chain restaurants respectively.
Shanghai New Asia Fulihua Catering Co., Ltd., in which the Company held 41% equity, realized
operating income of RMB 131.53million, with a year-on-year increase of 6.43 % over the same
period of last year.
(I) Principal Operation Analysis
1. Analysis of movements for items in financial statements
The same period of Percentage
Item This period
last year (%)
Operating income 6,289,013,150.53 4,368,181,085.26 43.97
Operating cost 603,775,121.43 434,096,326.04 39.09
Selling expenses 3,631,647,717.77 2,618,711,542.75 38.68
Administrative expenses 1,512,207,360.64 960,758,802.61 57.40
Financial expenses 218,769,598.00 229,518,074.47 -4.68
Other income 18,100,017.83 0.00 不适用
Non-operating income 14,972,281.20 73,500,212.36 -79.63
Gains from disposal of non-current assets 3,127,579.88 10,884,656.02 -71.27
Non-operating expenses 26,643,327.22 13,456,304.48 98.00
Losses from disposal of non-current assets 17,112,648.73 3,907,744.46 337.92
Income tax expenses 18,794,301.05 116,845,075.66 -83.92
Profit or loss attributable to minority interests 38,618,541.47 4,234,793.72 811.93
Net cash flows from operating activities 1,397,211,235.52 762,561,844.39 83.23
Net cash flows from investing activities -704,643,142.19 -8,248,288,904.42 N/A
Net cash flows from financing activities -1,851,466,122.55 9,701,010,615.97 N/A
20
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
The Company has included Plateno Group in the scope of consolidated financial statements since
the end of February 2016 when the Company completed the share closing. From January to June
2017, Plateno Group realized operating income of RMB 1,838.55 million, net profits of RMB
100.26 million, net cash inflow from operating activities of RMB 484.62 million, net cash outflow
from investing activities of RMB 20.52 million, and net cash outflow from financing activities of
RMB 198.67 million.
The Company has included Vienna Hotel and Longevity Village Catering in the scope of
consolidated financial statements since 1 July 2016 when the Company completed share closing.
From January to June 2017, Vienna Hotel realized operating income of RMB 1,026.99 million,
net profits of RMB 94.85 million, net cash inflow from operating activities of RMB 277.32
million, net cash outflow from investing activities of RMB 130.61 million, and net cash outflow
from financing activities of RMB 10.95 million; while Longevity Village Catering realized
operating income of RMB 147.74 million, net profits of RMB -3.99 million, net cash outflow
from operating activities of RMB 1.47 million, net cash outflow from investing activities of RMB
3.75 million, and net cash inflow from financing activities of RMB 0. Due to these events,
comparing with the same period of last year, it changed significantly for the amounts of items in
the Companys consolidated income statement and the consolidated cash flow statement.
Therefore, in the analysis set below, changes of amounts caused by such events and relevant
reasons will not be explained in details.
In the reporting period, it is stated as below for changes in amounts of part of items in the
consolidated income statement and the consolidated cash flow statement and the main reasons.
1) Operating income
The Companys operating income is RMB 6,289,013,150.53 in the current period, resulting in
a year-on-year increase of 43.97% over the operating income of RMB 4,368,181,085.26 at the
same period of last year, which is mainly contributed by (1) the addition of two-month
operating income from Plateno Group which was included in the consolidation scope of the
financial statements in March 2016 on a year-on-year basis in the first half year; (2) the
addition of six-month operating income from Vienna Hotel and Longevity Village Catering
which were included in the consolidation scope of the financial statements in July 2016 on a
year-on-year basis in the first half year; and (3) the increase in operating incomes of Louvre
Asia, Jin Jiang Inn and GDL on a year-on-year basis.
2) Other income
The Companys other income is RMB 18,100,017.83 in the current period, resulting in a year-
on-year increase of RMB 18,100,017.83 as no other income occurred at the same period of
last year. Such increase is mainly caused by the change of item presentation that government
grants related to operating activities are listed in “other income” separately pursuant to the
relevant revised accounting principles.
3) Non-operating income
The Companys non-operating income is RMB 14,972,281.20 in the current period, resulting
in a year-on-year decrease of 79.63% over the amount of RMB 473,500,212.36 at the same
period of last year. Such decrease is mainly affected by the change of item presentation that
government grants related to operating activities are listed in “other income” separately
pursuant to the relevant revised accounting principles, and the reversal of litigation
compensation estimated by GDL for the same period of last year.
21
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
4) Gains from disposal of non-current assets
The Companys gains from disposal of non-current assets are RMB 3,127,579.88 in the
current period, resulting in a year-on-year decrease of 71.27% over the amount of RMB
10,884,656.02 at the same period of last year, which is mainly resulted from the receipt of
relocation compensation for relocating a hotel under GDL at the same period of last year.
5) Non-operating expenses
The Companys non-operating expenses are RMB 26,643,327.22 in the current period,
resulting in a year-on-year increase of 98.00% over the amount of RMB 13,456,304.48 at the
same period of last year, which is mainly due to the increment of losses arising from Plateno
Groups disposal of hotels comparing with the same period of last year.
6) Losses from disposal of non-current assets
The Companys losses from disposal of non-current assets are RMB 17,112,648.73 in the
current period, resulting in a year-on-year increase of 337.92% over the amount of RMB
3,907,744.46 at the same period of last year, which is mainly due to the increment of losses
arising from Plateno Groups disposal of hotels comparing with the same period of last year.
7) Income tax expenses
The Companys income tax expenses are RMB 18,794,301.05 in the current period, resulting
in a year-on-year decrease of 83.92% over the amount of RMB 116,845,075.66 at the same
period of last year, which is mainly contributed by the impact of the down-regulation of
enterprise income tax rate applicable to GDL on deferred tax expenses
8) Net cash flows from operating activities
The Companys net cash flows from operating activities are RMB 1,397,211,235.52 in the
current period, resulting in a year-on-year increase of 83.23% over the amount of RMB
762,561,844.39 at the same period of last year, which is mainly contributed by (1) the
decrease in payment of income tax expenses by the headquarter of the Company;(2) the
addition of two-month operating income from Plateno Group which was included in the
consolidation scope of the financial statements in March 2016 on a year-on-year basis in the
first half year; and (3) the addition of six-month operating income from Vienna Hotel and
Longevity Village Catering which were included in the consolidation scope of the financial
statements in July 2016 on a year-on-year basis in the first half year.
9) Net cash flows from investing activities
The Companys net cash flows from investing activities are RMB -704,643,142.19 in the
current period, resulting in a decrease of net cash outflow of RMB 7,543,645,762.23 over the
amount of -8,248,288,904.42 at the same period of last year, which is mainly due to the
receipt of consideration for transferred 81.0034% of equities in Plateno Group at the same
period of last year.
10) Net cash flows from financing activities
The Companys net cash flows from financing activities are RMB -1,851,466,122.55in the
current period, resulting in an increase of net cash outflow of RMB 11,552,476,738.52 over
the amount of -9,701,010,615.97 at the same period of last year, which is mainly due to the
decrease of bank loans in the current period, and the increase in repayment of bank loans and
distributed dividends at the same period of last year.
22
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
2. Others
(1) Detailed explanation for significant changes in the Company’s profit constitution or
profit sources
√Applicable □Not applicable
As mentioned earlier, the Company mainly engaged in two businesses: limited service hotel
operation and management, and food and catering business. Meanwhile, the Company held
certain quantity of available-for-sale financial assets (including but not limited to shares of
Changjiang Security). Therefore, the Companys profits are mainly sourced from the three
respects. During the reporting period, influences on profit changes by the three respects are: (1)
Plateno Group and Vienna Hotel, over which the control right has been obtained by the
Company through acquisition, have contributed the Company profits after excluding factors
such as new loan interests arising from the acquisition of control right of Plateno Group and
Vienna Hotel; (2) Income tax expenses levied to GDL decreased due to the down-regulation
of enterprise income tax rate applicable to GDL; (3) The Companys investment income from
Shanghai KFC, Hangzhou KFC, Suzhou KFC, and Wuxi KFC increased comparing with the
same period of last year;(4) The Companys pre-tax operating income from sales of shares of
Changjiang Securities decreased comparing with the same period of last year. In addition, as
the Company completed the private offering of shares in August 2016, loan interest expenses
decreased over the same period of last year.
(2) Others
□Applicable √Not applicable
(II) Significant changes in profits arising from non-principal operating businesses
□Applicable √Not applicable
(III) Analysis of assets and liabilities
√Applicable □Not applicable
1. Assets and liabilities analysis
Unit: RMB
Proportion of Proportion of
Flux
Item 30 June 2017 total assets 30 June 2016 total assets
(%)
(%) (%)
Accounts receivable 892,513,312.63 2.11 633,618,747.68 1.43 40.86
Interests receivable 351,097,117.18 0.83 142,433,131.74 0.32 146.50
Dividend receivable 40,741,672.29 0.10 15,129,696.45 0.03 169.28
Other non-current assets 83,039,556.26 0.20 3,616,245,114.60 8.18 -97.70
Short-term borrowings 959,177,065.36 2.27 4,127,927,127.66 9.34 -76.76
Interest payable 24,255,363.82 0.06 48,865,337.58 0.11 -50.36
Dividends payable 2,196,167.45 0.01 429,303.93 0.00 411.56
Non-current liabilities
6,276,689,598.17 14.84 3,075,199,327.56 6.96 104.11
due within one year
Provisions 32,440,189.51 0.08 49,921,877.75 0.11 -35.02
Other non-current liabilities 160,364,091.33 0.38 117,626,648.42 0.27 36.33
23
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
In the report period, it is stated as below for changes in amounts of items in the consolidated
balance sheet and the main reasons.
(1) Accounts receivable
The closing and opening balances of accounts receivable are RMB 892,513,312.63 and RMB
633,618,747.68 respectively, increasing by 40.86%, which is mainly due to the inclusion of
India Sarovar in the consolidation scope of financial statements by GDL at the end of the
period, the increase of rent payable of Hotel Investment, the growth of Jinjiang Inns room
reservation charges due from e-commerce platforms and the increase of accounts receivable of
Vienna collectively.
(2) Interest receivable
The closing and opening balances of interest receivable are RMB 351,097,117.18 and RMB
142,433,131.74 respectively, increasing by 146.50 %, which is mainly due to the expiration of
three-year fixed-term bank deposits in May 2018.
(3) Dividends receivable
The closing and opening balances of dividend receivable are RMB 40,741,672.29 and RMB
15,129,696.45 respectively, increasing by 169.28%, which is mainly due to dividends
receivable from Hangzhou KFC, Suzhou KFC and Wuxi KFC.
(4) Other non-current assets
The closing and opening balances of other non-current assets are RMB 83,039,556.26 and
RMB 3,616,245,114.60 respectively, decreasing by 97.70%, which is mainly due to the
expiration of three-year fixed-term bank deposits in May 2018.
(5) Short-term borrowings
The closing and opening balances of short-term borrowings are RMB 959,177,065.36 and
RMB 4,127,927,127.66 respectively, decreasing by 76.76%, which is mainly due to the
payment of short-term borrowings in the reporting period.
(6) Interest payable
The closing and opening balances of interest payable are RMB 24,255,363.82 and RMB
48,865,337.58 respectively, decreasing by 50.36%, which is mainly due to the year-on-year
decrease of bank loans, and the payment of parts of financing expenses to the Export and
Import Bank of China in February 2017.
(7) Dividends payable
The closing and opening balances of dividends payable are RMB 2,196,167.45 and RMB
429,303.93 respectively, increasing by 411.56%, which is mainly due to dividends payable to
minority interests by Jin Jiang Inn.
24
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
(8) Provisions
The closing and opening balances of provisions are RMB 32,440,189.51 and RMB
49,921,877.75 respectively, decreasing by 35.02 %, which is mainly due to the reclassification
of relevant employee incentive expenses provided by the GDL to employee benefits payable
and the new addition of litigation costs of Plateno Group.
(9) Other non-current labilities
The closing and opening balances of other non-current labilities are RMB 160,364,091.33 and
RMB 117,626,648.42 respectively, decreasing by 36.33 %, which is mainly due to the receipt
of relocation compensation by Jin Jiang Inn.
2. Major assets' restraints at the end of the reporting period
√Applicable □Not applicable
As of the end of the reporting period, the amount of the Companys restricted assets has been total
in RMB 7.34 billion, referring to Note 50 “Assets with restricted ownership or right of use” in (V)
notes to items in the consolidated financial statement s of Section Ten Financial Statements for
details.
(III) Analysis of assets and liabilities - continued
3. Other explanation
□Applicable √Not applicable
(IV) Analysis of investments of the Company
1. Overall analysis of external equity investments
√Applicable □Not applicable
During the reporting period, the Companys total amount of external equity investment is RMB
526.15 million, decreasing 93.60% by RMB 7,700.47 million comparing with the same period of
last year.
(1) In January, the Company paid the remaining consideration amounting to RMB 174,880,000
for purchasing the transferred 80% equity in Vienna Hotel and RMB 80,000 for purchasing
the transferred 80% equity in Longevity Village Catering. As of 30 June 2017, the Company
has held 80% equity in Vienna Hotel and Longevity Village Catering respectively.
(2) In January, GDL, the Company's wholly-owned subsidiary paid a total of EUR 33,164,000,
equivalent to RMB 247,240,936.40 for purchasing 74% equity in Sarovar Hotels Private
Limited. As of 30 June 2017, GDL has held 74% equity in Sarovar Hotels Private Limited.
25
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
(3) In January, GDL, the Company's wholly-owned subsidiary paid a total of EUR 395,000,
equivalent to RMB 2,944,764.50 for purchasing 100% equity in Nordic Hotel AG Kiel GmbH,
Nordic Hotels Düsseldorf GmbH, Nordic Hotels München GmbH, Nordic Hotels Hamburg
GmbH, Nordic Hotels Berlin GmbH, Nordic Hotels Dnischer Hof Betriebs GmbH, Nordic
Hotel Bielefeld GmbH, DOMICIL Hotel Betriebs GmbH and Nordic Hotels Lübeck GmbH.
As of 30 June 2017, GDL has held 100% equity in the aforementioned 9 companies.
(4) In February, the Company invested RMB 100,000,000 to jointly establish Shanghai Qicheng
Network Technology Co., Ltd. with Jin Jiang Capital, Shanghai Lianyin Venture Capital Co.,
Ltd., Jin Jiang Hotels Group, Tibet Hongyi Mezzanine Investment Management Center
(Limited Partnership), and Guosheng Investment. As of 30 June 2017, the Company has held
10% equity in Shanghai Qicheng Network Technology Co., Ltd.
(5) In February, Guangzhou Plateno Ocean Investment Partnership (LP), a wholly-owned
subsidiary of Plateno Group, invested RMB 1,000,000 to establish Guangzhou Yule Network
Co., Ltd. As of 30 June 2017, Plateno Group has held 6% equity in Guangzhou Yule Network
Co., Ltd.
(1) Significant equity investment
□Applicable √Not applicable
(2) Significant non-equity investment
□Applicable √Not applicable
(3) Financial assets measured at fair value
√Applicable □Not applicable
Profit/loss
Initial Share Closing balance
Serial Security Stock Ratio within
Stock name Amount Holding of book value
number type code (%) reporting
(RMB) (Shares) (RMB)
(RMB)
Shenwan
1 Stock 000166 10,000,000.00 14,969,564 83,829,558.40 7.37 1,496,956.40
Hongyuan
Changjiang
2 Stock 000783 82,686,203.42 53,000,000 501,909,999.99 44.15 94,609,256.47
Securities
3 Stock 002186 Quanjude 56,408.72 95,608 1,936,062.00 0.17 22,945.92
Bank of
4 Stock 601328 1,540,945.00 1,013,771 6,244,829.36 0.55 0.00
Communication
5 Ocean BT L.P. 396,252,722.55 542,931,817.86 47.76 0.00
Total 490,536,279.69 / 1,136,852,267.61 100.00 96,129,158.79
Note1: "Profit/loss within reporting period" means cash dividends of the holding shares
and pre-tax income from the disposal of certain shares obtained by the Company
during the reporting report.
26
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Note2: On 31 December 2016, the Company held 63 million shares of Changjiang
Securities, accounting for 1.14% of the total equity of Changjiang Securities. On
22 - 27 March 2017, the Company sold 10 million shares of Changjiang Securities
through Shenzhen Stock Exchange, gaining pre-tax investment income of RMB
86.6593 million after deducting costs and related transaction taxes. As of 30 June
2017, the Company held 53 million shares of Changjiang Securities, accounting
for 0.96% of the total equity of Changjiang Securities.
Note 3: During report period, Keystone has transferred the equity it held in eLong Inc.
(“eLong”) via Ocean Imagination L.P. to Ocean BT L.P., a partnership newly
established by Ocean Voyage L.P., the general partner of Ocean Imagination L.P.,
Therefore, Keystone becomes a limited partner of Ocean BT L.P., and holds the
original equity in eLong via Ocean BT L.P. The Group recognized such equity
investment in Ocean BT L.P. as an available-for-sale financial asset.
(V) Sales of significant assets and equity
□Applicable √Not applicable
(VI) Analysis of major holding companies
√Applicable □Not applicable
27
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Unit: RMB0'000
Net profit
Percentage of Net assets Operating
Registered attributable to
shares holding Attributable to income from
Company Principal business capital the Company
at 30 June 2017 the Company Jan. to Jun.
on 30 June 017 from Jan. to Jun.
(Note 6) on 30 June 2017 2017
2017
I. Business of limited service hotels (Principal):
1. Shanghai Jinjiang Louvre Asia Hotel Management Co., Ltd. Investment, operation and management of limited service hotels 100% 5,000 8,552 6,766 2,407
2.Jin Jiang Inn Co., Ltd. Operation under lease and management of limited service hotels 100% 17,971 68,462 68,845 7,582
3.Shanghai Jin Jiang International Hotels Investment Co., Ltd. Hotel investment 100% 152,500 188,974 43,358 -2,553
Including subsidiary:
Operation under lease and management of limited service hotels 100% 6,833 14,070 3,500 274
Shanxi Goldmet Inn Management Co., Ltd. (Note 1)
4.Smartel Hotel Management Co., Ltd Operation and management of limited service hotels 100% 60,000 92,864 11,107 1,500
5.Shanghai Jin Lu Investment Management Co., Ltd Investment management 100% 35,000 90,881 180,331 15,698
Including subsidiary: Groupe du Louvre (Note 2) Operation of hotel and catering 100% EUR 26,204 17,484 24,189 1,168
6. Keystone Lodging Holdings Limited (Note 3) Operation of hotel and catering 81.0034% USD 1 343,876 183,855 10,026
7. Vienna Hotel (Note 4) Operation of hotel 80% 11,639 77,076 102,699 9,485
8.Shenzhen Longevity Village Catering Chains Co., Ltd (Note 4) Catering 80% 100 622 14,774 -399
9. Shanghai Jin Jiang Dahua Hotel Co., Ltd Operation of hotel and catering 100% 3,170 -885 872 -126
10. Shanghai Minhang Restaurant Co., Ltd. Operation of hotel and catering 100% 769 678 1,375 106
II. Food and Restaurant (Principal):
1.Shanghai Jin Jiang International Catering Investment Co., Ltd. Development & management of restaurant, domestic trading 100% 14,993 5,344 12,704 -1,719
Including subsidiary: Shanghai Jinjiang International Food &
Catering 100% 1,000 1,646 8,039 347
Catering Management Co., Ltd (Note 5)
Shanghai Jinya Catering Management Co., Ltd.(Note 5) Catering of Chinese and western cuisine 100% 6,867 -5,636 3,199 -1,514
Shanghai New Asia Food Co., Ltd.(Note 5) Production of moon cakes and frozen food 100% 1,142 -681 211 -246
Shanghai Jinzhu Catering Management Co., Ltd. (Note 5) Catering 100% 1,000 -1,529 314 -59
Shanghai Jin Jiang Tung Lok Catering Management Inc.(Note 5) Catering of Chinese and western cuisine 51% 1,890 -95 980 -17
Associates: Shanghai Yoshinoya Co., Ltd.(Note 5) Operations of Japanese fast food 42.815% USD 1,230 496 1,959 2
Shanghai Jing An Bakery Co., Ltd.(Note 5) Bakery 14.63% USD 383 -39 5,450 12
2.Shanghai Kentucky Fried Chicken Co., Ltd. western Fast food 42% USD 2,701 37,279 151,323 13,482
3. Shanghai New Asia Fulihua Catering Co., Ltd. Chinese restaurants 41% 3,500 7,149 13,153 902
4.Hangzhou Kentucky Fried Chicken Co., Ltd. western fast food 8% USD 2,150 48,510 220,902 30,083
5.Wuxi Kentucky Fried Chicken Co., Ltd. western fast food 8% USD 334.8 11,712 62,160 6,631
6.Suzhou Kentucky Fried Chicken Co., Ltd. western fast food 8% USD 1,000 22,394 119,271 14,382
III. Other business (Principal):
Changjiang Securities Co., Ltd. Securities agency and investment consulting 0.96% 552,947 2,594,114 276,364 99,502
28
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Note:
1. Shanxi Goldmet Inn Management Co., Ltd. is a wholly owned subsidiary of Jinjiang Shanghai
International Hotel Investment Co., Ltd.
2. Shanghai Jin Lu Investment Management Co., Ltd. holds 100% equity of GDL (registered in
France) through its wholly-owned subsidiaries Shanghai Jinjiang (HK) Co., Ltd and Luxembourg
Sailing Investment Company Limited successively.
3. At the end of February 2016, the Company completed the closing of 81.0034% equity in
Keystone Lodging Holdings Limited.
4. On 1 July 2016, the Company completed settlement the closing of 80% equity in Vienna Hotel
and 80% equity in Longevity Village Catering respectively.
5. Shanghai Jin Jiang International Catering Investment Co., Ltd. holds 82% equity interest of
Shanghai Jinjiang International Food & Catering Management Co. Ltd., 95% equity interest of
Shanghai New Asia Food Co., Ltd., 100% equity interest of Shanghai Jinzhu Food & Catering
Management Co. Ltd, 100% equity interest of Shanghai Jinaya Catering Management Co., Ltd.,
51% equity interest of Shanghai Jin Jiang Tung Lok Catering Management Inc.and 42.815%
equity interest of Shanghai Yoshinoya Co., Ltd. In addition, Shanghai Jin Jiang International
Catering Investment Co., Ltd. holds 14.63% equity interest of Shanghai Jing An Bakery Co., Ltd.,
and has the capability of exerting significant influence on Shanghai Jing An Bakery Co., Ltd. The
Company holds 100% equity interest of Shanghai Jin Jiang International Catering Investment Co.,
Ltd., 5% equity interest of Shanghai New Asia Food Co., Ltd and 18% equity interest of Shanghai
Jinjiang International Food & Catering Management Co., Ltd.
6. Equity interest at the end of the reporting period in above sheet represents the total equity interests
held by the Company directly and indirectly.
(VII) Structured entities controlled by the Company
□Applicable √Not applicable
II. Other Disclosures
(I) Caution and explanation for the net accumulative profits estimated to be negative from the
beginning of the year to the end of next reporting period or to change significantly
comparing the amount at the same period of last year
□Applicable √Not applicable
29
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
(II) The potential risks in the future
√Applicable □Not applicable
1. Macro-economy fluctuations:
Prosperity of limited service hotel industry and chain catering industry are positively
correlated with periodic fluctuations of the domestic macro-economy. Although our GDP
has been keeping increasing for years in general, short-term shake or periodical plug- in
are still very likely to happen. When meeting the decline in macroeconomic growth,
people will hardly expect income increase. And correspondently, less will be spent on
eating out and domestic traveling. Moreover, less business trip budget from small and
medium-size enterprises will also result in unfavorable performance in the Companys
economy hotels financial reports and operation performance.
2. Risks from operating cost increase
Operating cost of limited service hotels and chain catering enterprises invested by the
Company including Jin Jiang Metropolo, Jin Jiang Inn, Campanile, Plateno and Vienna,
amortization and depreciation of fixed assets and rental property of directly operated
hotels and other fixed costs account for a large proportion. Although the Company
adopted straight-line method for rentals arising from leased properties, which successfully
smoothed the rental cost impact on future operating performance. However, since hotels
including "Jin Jiang Inn" and "Campanile", Plateno, Vienna Hotel and chain catering
enterprises have demands for continuous expansion of directly operated stores, an annual
increase of rental cost will incur along with the countrys commercial property price
changes. At the same time, the main limited service hotel brands and chain catering
enterprises are usually opened at busy streets where the transportation is convenient.
Therefore, they will compete against other properties that would open limited service
hotels and chain catering service at the same location, which will lead to a further rise in
rental.
Furthermore, additional investment of fixed assets, labor cost and energy cost may rise
along with the price changes. If the average room rate, occupancy rate, per capita
consumption level and consumer crowd continue to stay low, such rise in cost could lead
to adverse effect on the Company's hotel business results and chain restaurants operation.
3. Risks from rapid expansion
Limited service hotel industry in China is in a rapid development stage. Despite the fact
that dominant enterprises including the Company have obtained a competitively large
market share and leading position already, the Company is also exposed to an intensified
competition with other competitors in branch expansion as the markets' demand increases
in second or third tier cities where the economic hotels are relatively less in quantity. Most
of the competitors will increase their hotels to meet the needs of customers. In other words,
customers will be not satisfied with low coverage when the Company is not able to meet
the expected expansion among its limited hotel services including Jinjiang Metropolo,
Jinjiang Inn, Golden Tulip, Campanile, Plateno and Vienna. Thus, in the following years,
the Company will strive to open more branches in second or third tier cities so as to keep
its market share and leading position.
30
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
4. Risks from franchise management
Franchise has been the dominant business pattern in the expansion of Jin Jiang Metropolo,
Jin Jiang Inn, Campanile, Campanile, Golden Tulip, Plateno and Vienna. According to the
applicable franchise agreements, the management in franchised hotels is not under total
control of the Company. However, once franchised hotels fail to meet management
standards among abovementioned hotel brands, or cannot obtain the official property
certificates and must move out from the current location, the Company is likely to suffer
losses in brands operation as the franchise hotels will lost customers and revenue. Besides,
Abuse trademark of above hotel brands by franchised hotels will definitely have adverse
effect on brand image and reputation. If customers are not satisfied with the service
provided by franchise hotels, the Company will be complained and there will be adverse
effect on brand image and reputation. Then the Limited service hotels' operation
performance will be effected.
5. Risks from lease property ownership
According to "Significant Assets Replacement and Affiliated Transactions Report"
disclosed by the Company on 30 September 2009, the number of leased-and-operated
hotels is up to 86 as of 31 July 2009. Those related land and properties are leased under
the name of Jin Jiang Inn and Hotels investment from third party. As of the signing date of
the report, up to 30 leased hotels have not obtained valid proof from the lessor regarding
use rights of houses and the land, or the leasing purpose is still pending for approval.
Whether those lessors mentioned above are qualified to lend property out is uncertain.
When facing property defect, the Company will unavoidably suspend the operation.
Although the Company can receive some compensation upon the lease agreement and
relevant laws, extra expense on relocation can be hardly covered.
The Company will continuously take active measures to obtain proof for the lessors
regarding use rights of properties and the land as well as official approval for its leasing
purpose. In the 12 months after CSRC approval on assets replacement, the Company plans
to reduce the problematic hotel number to 20% of total leased hotels at the evaluation base
date. In the 24 months and 36 months after CSRC approval, the number will be further
reduced to 10% and 0% respectively.
If the Company fails to resolve the above-mentioned ownership defects of the leased
property in accordance with the proportion and number of the plan determined in the
relevant period stipulated in the plan schedule (that is, if the Company failed to reduce
those problematic hotels to 20% within 12 months since the approval of the reorganization
of the CSRC by the CSRC, or failed to reduce to 10% within 24 months, or failed to solve
all within 36 months), then the Company will take actions to solve them once and for all
by transferring the project at consideration no less than this evaluation, terminating the
lease agreement and re-opening the hotel in other locations or by other means within 3
months upon expiration on above-mentioned three time points.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
In response to these risks, on 1 March 2010, Jinjiang International makes a commitment to
the Company that, if the Company fails to resolve the above-mentioned ownership defects
of the leased property in accordance with the proportion and number of the plan
determined in the relevant period stipulated in the plan schedule, and chooses to terminate
the lease agreement and re-open in other locations for parts of leased hotels unable to
satisfy the aforementioned rectification proportion or number as planned within the three
time points mentioned above, Jinjiang International will assume the damages arising from
tenancy termination claimed by such leased hotels which reopened in other locations due
to tenancy termination and pay compensations pursuant to the special asset assessment
value on the asset evaluation base date of 31 July 2009. In addition, Jinjiang International
also promises, in the future operating process, if hotels under Jin Jiang Inn has to re-open
in other locations due to such defects, Jinjiang International will compensate losses
suffered by such hotels in full amount as determined in the following approach to support
them to relocate and open new hotels in other locations, provided that relevant property
leasers have failed to compensate or fully compensate losses to such hotels within one
year from the date when such hotels stop operating. Detailed losses suffered by such hotels
is determined as the higher of (1) all initial investment costs in connection with fixed
assets and decorations of such hotels as audited as of the asset evaluation base date of 31
July 2009; and (2) the asset assessment value determined on the asset evaluation base date
of 31 July 2009. The balance between compensations received from the property leasers
and those paid by Jinjiang international will be owned by Jinjiang international.
Meanwhile, Jinjiang International will compensate such hotels in accordance with net
profits as audited in the reporting period prior to the close date of such hotels, as to
making up operating losses of such hotels.
6. Depreciation on assets including goodwill and trademarks
A goodwill with large amount may form to the Company due to the Companys
acquisition of GDL, Plateno Group and Goldmet Inn, as well as the external acquisition by
GDL. According to the relevant provisions of Accounting Standards for Business
Enterprises in China, the acquisition of GDL, Plateno Group and Goldmet Inn has
constituted a business combination not involving enterprises under common control and
the combination cost in excess of fair value of the identifiable net assets of the subject
companies can be recognized as goodwill. According to the relevant provisions of
Accounting Standards for Business Enterprises in China, goodwill is not amortized and
shall be tested for impairment at least at the end of each year. If the future operations of
GDL, Plateno Group, Vienna and Goldmet Inn continue to deteriorate, the Company may
be exposed to the risk of goodwill impairment, hence it may bring adverse impacts on the
Companys current and future benefits.
The Company's principal businesses include franchised hotel services, so the Companys
hotel brands which have certain commercial value and awareness can be recognized as
intangible assets with infinite useful lives. If the recoverable amounts of the Companys
intangible assets such as these trademarks and brands are lower than their carrying
amounts, the carrying amounts of such intangible assets shall be reduced to the
recoverable amounts and the amount in written down shall be recognized as an impairment
loss of assets. Therefore, it may bring adverse impacts on the Companys current and
future benefits.
32
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
7. Overseas business management risk
After the acquisition of GDL, the Companys businesses and assets are distributed in more
than 60 countries and regions all over the world, which results a great increase in the
Companys scale of operation and total businesses, and brings higher requirement on
personnel structure and management systems. If the Company fails to optimize the
existing organization mode and management system in accordance with the oversea
business development needs, it bring adverse impacts on the subject companies operation
and management.
8. Concerns about contagious disease break-out and food safety
In recent years, the outbreak of diseases such as SARS, mad cow disease, bird flu and
other highly contagious diseases in China and the world, and the concern about food safety
have resulted or will result a significant decline in the number of tourists or of persons
taking dinners outside. If a similar situation occurs, it may bring an adverse impact on the
Company's business development.
9. Impossible larger changes in the shareholders equity and ROE
According to Accounting Standards for Business Enterprises in China, the Company shall
determine the fair value of parts of the qualified financial assets based on their market
prices, hence fluctuations in the fair values of these financial assets may enlarge the
increase or decrease of accounting data and financial indicators such as the shareholders
equity and ROE of the Company.
According to the development strategy of the Company, limited service hotel operation
and management businesses, as the Companys principal businesses, has been in the fast
development step, which means its acceleration needs a large amount of corresponding
funds. Meanwhile, as the funds input and output form a cycle period whose length is
uncertain in some extent, the ROE may be diluted correspondently if the net profits fail to
realize a synchronized growth.
10. Risks of repayment capability being adversely affected
For the purpose to meet the needs of acquisition and daily operation, the Company may
increase the amount of debt financing, hence the asset-liability ratio may also increase
correspondently. Although the Company can satisfy its needs of acquisition through self-
owned funds due to reasonable overall assets and liabilities structure and good solvency,
not causing significant influences on the Companys routine course of business, it may sill
bring adverse impacts on the Companys solvency if the Companys cash flow from
operating activities is less than the expected amount since repayments are mainly sourced
from the cash flow generated from the Companys operating activities.
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
11. Risks of changes in exchange rate and interest rate
As the Company's businesses are all over the world, its daily operations are transacted in a
lot of foreign currencies such as EUR, GBP, USD and others, but the Company adopts
RMB as the functionary currency in the consolidated financial statements, hence the
Company has taken and will continue to take effective measures to minimize the
influences of exchange rate fluctuations on the Companys operations. However, the
Companys future operations may still be exposed to exchange rate risks due to unsteady
fluctuations among RMB, EUR, GBP, USD and other foreign currencies in the future.
As parts of the Companys financing funds come from bank loans, the Company may need
to apply to banks for new loans to satisfy fund needs when such loans are expired or
repaid in advance, or when the Company continuously extend its business scales.
Therefore, changes in interest rate of loans in the future may affect the Company's
financial costs and profitability.
12. Risks of resignation of key personnel
Considering the Companys sustainable success in development highly depends on its
senior management and well-trained senior employees, if the Company fails to employ
and train sufficient experienced management teams and senior employees, it may bring
adverse impacts on the Companys profitability.
(III). Other disclosures
□Applicable √Not applicable
34
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section V Significant Events
I. Brief Introduction to General Meetings
Specific reference
Disclosure date of the
Conference Times Convening Date website publishing
resolution published
the resolution
The First General Meeting of
21 April 2017 www.sse.com.cn 22 April 2017
shareholders in 2016
The First Extraordinary General
11 May 2017 www.sse.com.cn 12 May 2017
Meeting of shareholders in 2017
Description of Shareholders' General Meeting
□Applicable √Not applicable
II. The proposal of profit distribution or capital reserve transferring to increment
(I) The plan of profit distribution for the Half Year and surplus converted to share
capital during the reporting period as follows
Distributed or converted No
Bonus issue every 10 shares
Cash dividend every 10 shares (tax included)
Shares convert every 10 shares
Description of the proposal of profit distribution or capital reserve transferring to increment
35
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
III Fulfillment of commitment
(I) Commitments of the actual controller, shareholders, related parties, acquirers and companies of the Company during the reporting
period or continuing to the reporting period.
√Applicable □Not applicable
Commitment Time limit
Commitment On time
Background Type Commitment date and for
Party Commitment
period Commitment
In the asset replacement program, there is a certain degree of
ownership defects in the assets of the leased property in the 30
"Jinjiang Star" store property. In response to the risks and the
Company's schedule, on 1 March 2010, Jinjiang International made a
commitment to the Company:
1) If the Company fails to resolve the above-mentioned tenure of the
leased property in accordance with the proportion and number of the
plan in the relevant period stipulated in the settlement schedule (that
is, if the reorganization of the reorganization is not approved by the
CSRC Within 20 months from the date of reduction to 20%, or failed
to within 24 months to 10%, or failed to fully resolved within 36
Land
Commitments Jin Jiang months), the Company for the three time points were not reached
and
regarding to International Plan to rectify the proportion and rectification of the number of part
other permanent No Yes
the major assets (Holdings) of the number of leasing business stores, to take the lease, re-open
property
reorganization Co., Ltd the opening, the company will bear the relocation of the re-opening
defects
of the leasing business stores due to the lifting of the lease may lead
to breach of contract Which is compensated according to the specific
asset valuation value as of 31 July 2009.
2) In the future operation of the replacement assets, where relevant
stores have to relocate for opening as a result of defects in leasing
stores of "Jinjiang Star", Jin Jiang International shall fully
compensate the stores in a timely manner for the losses calculated in
accordance with the following method as related lessor fails to make
up the loss (fully or partly) within 1 year since the close-down. The
amount of the loss is the higher of the original investment cost of the
fixed assets and decorations contributed by the store (which has been
36
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
audited as at 31 July 2003) and the value of assessment of assets at
the base date (31 July 2009).
After Jin Jiang International's compensation, any subsequent
payment recovered from the lessor shall be owned by Jin Jiang
International. At the same time, Jin Jiang International shall
compensate the store in accordance with the audited net profit of
such store of the prior accounting year to make up for the loss during
the close-down period.
Disclosure of Reorganization Report: On 22 December 2009,
Jinjiang International made a commitment to Jin Jiang Hotels that it
would provide fully secure for all the deposits and other financial
assets placed with Jin Jiang International Finance Co., Ltd. from Jin
Jin Jiang
Jiang Hotels and its affiliated subsidiaries on the base date of audit
International
Other assessment (31 July 2009) or subsequent periods. When Jin Jiang permanent No Yes
(Holdings)
International Finance Co., Ltd. falls difficult in the principal or
Co., Ltd
interest of any deposits or other financial assets owed to Jin Jiang
Hotels in the future, Jin Jiang International will pay for it
immediately.
On 28 August 2009, Jinjiang Hotels Group issued the "Commitment
to avoid Horizontal Competition for Counterparty", promising that
Jin Jiang Hotels Group and its affiliated companies (excluding Jin
Jiang Hotels and its subsidiaries, similarly hereinafter) will not
engage in any (potential) completion business.
Jinjiang
Other Hotels permanent No Yes
If future operations of Jinjiang Hotels Group and its affiliated
Group
companies may result in the potential horizontal completion or
benefit conflict, Jinjiang Hotels Group shall give up or urge its
affiliated companies to give up such business, otherwise to fully
infect the business to Jin Jiang Hotels at fair market price as
appropriate.
37
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
IV. Appointment and demission of accounting firms
The statement of appointment and demission of accounting firms
□Applicable √Not applicable
Changing appointed accounting firm in the auditing period
□Applicable √Not applicable
The Company's statement of "non-standard audit report" issued by the accounting firm
□Applicable √Not applicable
The Company's statement of "non-standard audit report" in the financial statements issued by the
certified public accountant for the prior year
□Applicable √Not applicable
V. Bankruptcy and reorganization related matters
□Applicable √Not applicable
VI. Major litigation and arbitration matters
□There is significant litigation, arbitration events in the reporting period
√There is no significant litigation, arbitration events in the reporting period
VII. Penalty and rectification for listed companies, supervisors, senior management, controlling
shareholders and substantial controllers, and acquirers
□Applicable √Not applicable
VIII. The credit statement of the Company, its controlling shareholders and substantial
controllers in the reporting period
□Applicable √Not applicable
IX. The Company's equity incentive plan, employee stock ownership plan or other employee
incentive measures and their impact
(I) Related incentives have been disclosed in the interim notice and follow-up
implementation of no progress or change /Events disclosed in the temporary
announcement but have no updates or changes
□Applicable √Not applicable
38
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
(II) Temporary announcement is not disclosed or there is incentive for follow-up
progress
Equity incentive
□Applicable √Not applicable
Other description
□Applicable √Not applicable
Employee Stock Ownership Plan
□Applicable √Not applicable
Other incentives
□Applicable √Not applicable
X. Significant Related Party Transactions
(I) Transactions related to operating activities
1. Events disclosed in the temporary announcement but have no updates or changes
□Applicable √Not applicable
2. Events disclosed in the temporary announcement but have updates or changes
□Applicable √Not applicable
39
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
3. Undisclosed transactions announced on the interim announcements
√Applicable □Not applicable
Unit: RMB
Proportion in
Related party Transaction Congener Settlement
Related party Transaction type Content Pricing policy Settlement by
relationship amount business method
(%)
JinJiang International (Holdings) Co., Ltd., Ultimate holding company, Limited service
Rendering of service Market price 873,499.41 0.10 Cash
Jin Jiang Hotels Group and their hotel-related subsidiaries parent company and its subsidiaries management fee
Ultimate holding company, Room booking fees for
Jin Jiang International, Jin Jiang Hotels Group and its subsidiaries Rendering of service Market price 264,737.74 0.57 Cash
parent company and its subsidiaries limited service hotels
Ultimate holding company,
Jin Jiang International, Jin Jiang Hotels Group and its subsidiaries Rendering of service Credit income Market price 24,024.78 0.96 Cash
parent company and its subsidiaries
Ultimate holding company, Sales of goods in limited
Jin Jiang International, Jin Jiang Hotels Group and its subsidiaries Sales of goods Market price 197,947.27 0.61 Cash
parent company and its subsidiaries service hotels
Ultimate holding company,
Jin Jiang International, Jin Jiang Hotels Group and its subsidiaries Sales of goods Sales of food Market price 868,765.79 13.51 Cash
parent company and its subsidiaries
Ultimate holding company,
Purchase of hotel food
Jin Jiang International, Jin Jiang Hotels Group and its subsidiaries parent company and its subsidiaries, Purchase of goods Market price 294,980.02 0.13 Cash
and goods
associates
Ultimate holding company and
Jin Jiang International and its subsidiaries Receipts of service Credit service fees Market price 1,784,954.56 100.00 Cash
its holding subsidiary
Ultimate holding company
Jin Jiang International and its subsidiaries Receipts of service Room booking fees Market price 220,696.41 0.73 Cash
and its holding subsidiary
Total / / 4,529,605.98 0.37 /
The Company provide limited service hotel management for hotel-related entities under
Details of returns in large quantity
Jin Jiang Hotels Group and Jin Jiang International to expand market share
The agreement of transactions with related parties had been approved by the 13th session
Details of related party transactions
of the 8th board of directors held on 29 March 2016(once every 3 years).
40
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
(II) Related transactions on acquisition of assets or equity and sales
1 Events disclosed in the temporary announcement but have no updates or changes
□Applicable √Not applicable
2. Events disclosed in the temporary announcement but have updates or changes
□Applicable √Not applicable
3. Undisclosed transactions announced on the interim announcements
□Applicable √Not applicable
4. Where the performance is agreed upon, the performance of the report shall be
disclosed during the reporting period
□Applicable √Not applicable
(III) Significant related transactions for joint external investment
1. Events disclosed in the temporary announcement but have no updates or changes
□Applicable √Not applicable
2. Events disclosed in the temporary announcement but have updates or changes
√Applicable □Not applicable
On 5 December 2016, the Company entered into the WeHotel Shareholders Agreement
with Jinjiang Capital, Shanghai Lianyin Venture Capital Co., Ltd.(hereinafter referred as
"Lianyin Venture"), Jinjiang Hotels Group and Tibet Hongyi Mezzanine Investment
Management Center (limited partnership) (hereinafter referred to as Tibet Hongyi "),
Guosheng Investment and investors who meet the conditions. Pursuant to the agreement,
the company contributed RMB 100 million, accounting for 10% of the shareholding.
Please refer to the Company's Announcement on the Related Party Transactions of the
Joint Venture Jointly Established by the Company and the relevant parties on 6 December
2016 (Announcement No.: 2016-067)
In order to speed up the establishment of WeHotel, the above plan is adjusted to: the
investment of RMB 150 million is contributed by Jinjiang Capital with the corresponding
shareholding instead of eligible investors, and the entitlement and any obligations are also
taken by Jinjiang Capital. After the esblishment of WeHotel, eligible investors are entitled
to subscribe the increased capital of WeHotel subject to the terms and conditions of the
applicable law (including but not limited to the relevant provisions of the State-owned
Assets Supervision and Administration Commission) and Association of Articles of
WeHotel. On 6 February 2017, the Company signed an adjusted WeHotel Shareholder
Agreement with Jinjiang Capital, Lianyin Venture Capital, Jinjiang Hotel Group, Tibet
Hongyi and Guosheng Investment. The company invested RMB 100 million, accounting
for 10% of the shareholding. The original agreement is terminated by the date of the new
agreement.Please refer to the Announcement on adjusting the Related Party Transactions
of the Joint Venture Jointly Established by the Company and Related Parties, which was
disclosed on 7 February 2017 (Announcement No.: 2017-002)
41
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
3. Undisclosed transactions announced in the temporary announcement
□Applicable √Not applicable
(IV) Balances due to/ from related parties
1. Events disclosed in the temporary announcement but have no updates or changes
□Applicable √Not applicable
2. Events disclosed in the temporary announcement but have updates or changes
√Applicable □Not applicable
On 25 April 2017, Sailing Investment Co, S.àr.l. (the "Borrower", hereinafter referred to
as the "Sailing"), a wholly-owned subsidiary of the Company, entered into the Intra-Group
Loan Agreement (hereinafter referred to as the "Loan Agreement") with MASTER
MELON CAPITAL CO., LIMITED, a wholly subsidiary of Jinjiang International.
According to the Loan Agreement, Sailing will receive the loan of EUR 0.5 billion due
within 5 years provided by MELON. The fixed annual rate shall neither exceed the finance
cost of MELON nor 150BP (subject to the loan amount and interest rate issued by EUR
private placement bond) and lower than the RMB benchmark interest rate for loan
published by People's Bank of China for the period (the benchmark interest rate for the
loan of the same level for the period is 4.75%). No guarantees or securities are required by
the Company and its subsidiaries for the loan. Details see the Announcement on Related
Party Transactions for the Loan Provided by Related Parties to the Wholly-owned
Subsidiaries of the Company issued by the Company on 26 April 2017.
Follow-up: On 12 May 2017, Sailing entered into the Supplementary to the Intra-Group
Loan Agreement (the "Supplementary") with MELON. Pursuant to the Supplementary,
Sailing borrowed a loan of totalling EUR 0.5 billion from MELON. The life of loan is
from 15 May 2017 to 10 May 2022 with the annual interest rate of 1.05%, forward
exchange service fee of EUR 3.096 million, charges for issuing a L/C of EUR 774,000 and
attorney fee of EUR 172,500.
3. Undisclosed transactions announced on the interim announcement
□Applicable √Not applicable
(V) Other significant related party transactions
□Applicable √Not applicable
42
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
(VI) Others
√Applicable □Not applicable
The Company deposited part of the settlement funds or idle funds into Jinjiang International
Group Finance Co., Ltd. (approved non-bank financial institution), the balance at the beginning of
the reporting period was RMB 716.48 million, and the balance at the end of the reporting period
was RMB 943.79 million. The Company's resolution at the 2016 Annual Shareholders' General
Meeting held on 21 April 2017, examined and approved the relevant deposits to Jinjiang Finance
Company: the Company's total deposit balance in Jinjiang International Group Finance Co., Ltd.
in 2017 is expected not to exceed RMB 1.2 billion. In the first half year of 2017, the
corresponding deposit interest income was RMB 6.36 million.
The Company's subsidiaries borrowed from Jinjiang International Group Finance Co., Ltd., and
the balance at the beginning of the reporting period was RMB 805 million. The balance at the end
of the reporting period was RMB 30 million. The Company's resolution at the 2016 Annual
Shareholders' General Meeting held on 21 April 2017, examined and approved the relevant
Jinjiang Finance Company's loan resolution: the Company's annual maximum of the estimated
loan amount of Jinjiang International Group Finance Co., Ltd. in 2017 was not more than RMB
1.6 billion. Interest expense for the corresponding loans in the first half of the year 2017 was
RMB 12.72 million.
"The Board of Directors of Jin Jiang International (Holdings) Co., Ltd. promised to urge Shanghai
Jin Jiang International Hotels(Group) Co., Ltd.to increase the corresponding capital in respond to
the difficulties in the actual payment.", stipulated by Article 12, Chapter 3,the Association of
Articles of Jin Jiang International Finance Co., Ltd.
The actual controller, Jin Jiang International (Holdings) Co., Ltd. made the following
commitments on 22 December 2009 to further insure the security and independence of the
Company's deposits with Jin Jiang International Finance Co., Ltd.:
The reorganization is approved and implemented in the premise that all the deposits and other
financial assets of the Company and its affiliated entities placed in Jin Jiang International Finance
Co., Ltd. on the base date of audit and assessment (31 July 2009) and thereafter shall be fully
secured. When Jin Jiang International Finance Co., Ltd. falls difficult in the principal or interest of
any deposits or other financial assets owed to your Company in the future, we will pay it
immediately. Capital business between your company and Jin Jiang International Finance Co., Ltd.
shall be made freely and independently. We promise not to make any uniform requirements on the
capital business or to affect your decisions for the purpose of the independence and the security of
your finance. Therefore, the above deposits and guarantees shall be disclosed by your company
subject to relevant regulations (including regular disclosures in the periodic report and timely
disclosures of significant events)".
XI. Significant contracts and fulfillment of contracts
1 Trusteeship, contracting or leasing
□Applicable √Not applicable
43
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
2 Events on guarantee
√Applicable □Not applicable
Unit: RMB
External Guarantee(Excluding Subsidiary)
Relationship EffectiveDate
between (Signing date Related Related
the Starting Closing Guarantee Completed Overdue or Overdue Counter
Guarantor guarantor Amount of party party
Guaranteed date date type or not not amount guarantee
and listed the guarantee relationship
company agreement)
Total guarantee amount in the reporting period(excluding guarantees for
subsidiaries)
Total guarantee amount at the end of the reporting period(A)(excluding
guarantees for subsidiaries)
Guarantees of subsidiaries made by the Company
Total guarantee amount for subsidiaries in the reporting period 92,000
The guarantee amount for subsidiaries at the end of the reporting period(B) 450,649
Total guarantee amount made by the Company(including for the subsidiaries)
Total guarantee amount(A+B) 450,649
Percentage of total guarantee amount to net assets of the Company (%) 35.58
Including:
Amount of guarantee provided for shareholders, actual controller and its related 0
parties (C)
Direct or indirect debt guarantees provided for guaranteed parties whose asset- 0
liability ratio exceeds 70% D)
Guarantee amount exceeding 50% of net assets(E) 0
Total guarantee amount(C+D+E) 0
Statement for joint liability of undue guarantee
Description of guarantees On 25 May 2017, the Company entered into the Contract of Guaranty with Zhabei Branch of
Shanghai Pudong Development Bank Co., Ltd. on the current fund loan of RMB 920 million of
Keystone Lodging Holdings Limited. The aforesaid guarantee has been examined and approved at
the 38th Session of the Eighth Meeting of the Board.
44
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
3 Other significant contracts
□Applicable √Not applicable
XII. Poverty alleviation of listed companies
□Applicable √Not applicable
XIII. Convertible bonds
□Applicable √Not applicable
XIV. Environmental situation of the companies and their subsidiaries on the Department of
Environmental Protection's list of key pollutant discharging units
□Applicable √Not applicable
XV. Other significant events
i. Description, reasons and effects of changes in accounting policies, accounting
estimates and accounting methods comparing to the period accounting period
√Applicable □Not applicable
The Accounting Standards for Business Enterprises No. 16 – Government Grants (revised)
was issued by the MoF on 10 May 2017, which requires "Other Income" shall be
presented separately under "Operating profit" in the income statement and the government
grants recognized in "Other Income" shall be included as well. Government grants after 1
January, 2017 are accounted for prospectively, and the additional government grants from
1 January 2017 to the effective date of the Standards are adjusted subject to the Standards.
According to the Notice on the Accounting Standards for Business Enterprises No. 16 –
Government Grants (revised) issued by the MoF(Cai Kuai[2017]No.15), the relevant
presentation of the Company's financial statements shall be adjusted, of which the item of
"Other Income" shall be separately presented under "Operating Profit" in the income
statement. The effect of government grants relating to daily activities from 1 January 2017
on profit or loss shall be reclassified to "Other Income" instead of "Non-operating
Income". The amount of "Other Income" increased RMB 18,100,017.83 in the reporting
period, and the amount of "Non-operating Income" decreased RMB 18,100,017.83 in the
reporting period.
Retroactive adjustments of comparative figures in the financial statements are not involved
in the aforesaid adjustment, and produce no effect on the profit or loss, total assets and net
assets of the Company.
(II) Retroactive restatement for corrections of significant accounting errors, the correct
amount, causes and its effects in the reporting period
□Applicable √Not applicable
(III) Others
□Applicable √Not applicable
45
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section VI Changes of Share Capital and Particulars of Shareholders
I. Change of Share Capital
(I). Statement of Change of Share Capital
1. Statement of Change of Share Capital
There is no changes in the sum of shares and the share structure in the reporting period.
2. Description of Change of Share Capital
□Applicable √Not applicable
3. Effect of changes of share capital on earnings per share, net assets per share and
other financial indicators for the period from the end of the reporting period to
the date the semiannual report disclosed(if any)
□Applicable √Not applicable
4. Other disclosures required by the Company or the securities regulatory authority
□Applicable √Not applicable
(II) Details of changes of restricted shares
□Applicable √Not applicable
II. Details of shareholders
(I) Total shareholders
The total number of common shareholders 60,927
at The end of the reporting period (households) (Including: A-share shareholders 34,307,B-share shareholders 26,620)
Total number of preferred shareholders with
recovery of voting rights as at the end of
the reporting period(households)
46
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
(II). the top ten shareholders as of the reporting period, the top ten circulating shareholder (or unrestricted tradable shareholders)
Unit: Share
The top ten shareholders
Number of Pledge or freeze
Name of shareholders Changes in Number of holdings Proportion
restricted Nature of shareholder
(Full name) reporting period at end of the period (%) Status Qty.
shares held
Shanghai Jin Jiang International Hotels(Group) Co., Ltd. State-own Legal-person
482,007,225 50.32 Nil
Shareholder
Hony Capital (Shanghai) Equity Investment Fund Center (Limited Partnership) Foreign-owned Legal-person
120,325,976 12.56 pledge 120,325,976
Shareholder
China Securities Finance Corporation Limited State-own Legal-person
+16,609,045 16,959,201 1.77 unknown
Shareholder
China Great Wall Asset Management Corporation State-own Legal-person
15,244,482 1.59 Nil
Shareholder
Shanghai Guosheng Group Investment Co., Ltd. State-own Legal-person
15,244,482 1.59 Nil
Shareholder
HuaAn Future Asset－ICBC－Anxin Trust Co., Ltd. Domestic non-state-own
15,244,482 1.59 Nil
legal person
SIG Asset Management Co., Ltd. State-own Legal-person
10,162,988 1.06 Nil
Shareholder
INVESCO FUNDS SICAV -1,004,278 9,778,843 1.02 unknown Overseas Legal Person
Industrial &Commercial Bank of China Ltd.
-467,445 8,300,971 0.87 Nil Others
－CSI Shanghai state owned trading open index securities investment fund
NEW CHINA LIFE INSURANCE COMPANY LTD
6,054,835 0.63 Nil Unknown
－Dividend declaration－individual dividend－018L－FH002 Hu
Particulars of top 10 unrestricted tradable share shareholders
Numbers of unrestricted The category and number of shares
Name of shareholders
tradable shares Category Number
Shanghai Jin Jiang International Hotels(Group) Co., Ltd. 303,533,935 RMB ordinary share
China Securities Finance Corporation Limited 16,959,201 RMB ordinary share
INVESCO FUNDS SICAV 9,778,843 Foreign shares listed in China
Industrial Commercial Bank of China Ltd
8,300,971 RMB ordinary share
- CSI Shanghai state owned exchange traded index securities investment fund
NEW CHINA LIFE INSURANCE COMPANY LTD
6,054,835 RMB ordinary share
－Dividend declaration－individual dividend－018L－FH002 Hu
INVESCO PERPETUAL HONG KONG & CHINA FUND 4,241,647 Foreign shares listed in China
NORGES BANK 3,579,513 Foreign shares listed overseas
SCBHK A/C BBH S/A VANGUARD EMERGING MARKETS STOCK INDEX FUND 3,292,550 Foreign shares listed in China
National Social Security Fund 415 combination 2,520,878 RMB ordinary share
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 2,090,938 Foreign shares listed in China
Instructions on related party relationship with above shareholders and concerted action INVESCO FUNDS SICAV and INVESCO PERPETUAL HONG KONG & CHINA FUND are commonly under
the control of INVESCO... Except aforementioned, it is unknown for the Company that whether there was any
associated relationship among the top ten tradable shareholders or whether they are persons acting in concert as
stipulated in the Measures for the Administration of Information Disclosure of Changes in the Shareholding of
Listed Companies.
47
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Particulars of top 10 shareholders of shares and restricted conditions
√Applicable □Not applicable
Unit: Share
Details of restricted tradable shares
to be listed
Number of
Number of
NO. Name of restricted tradable shares restricted tradable Restricted conditions
Date to be listed new shares to be
shares
for transactions listed for
transactions
No transferring within
101,277,000 2017-12-06
Shanghai Jin Jiang International 36 months since the
1
Hotels(Group) Co., Ltd. release date
77,196,290 2019-08-05
Hony Capital (Shanghai) Equity 100,000,000 2017-12-06 No transferring within
2 Investment Fund Center 36 months since the
(Limited Partnership) 20,325,976 2019-08-05 release date
No transferring within
China Great Wall Asset
3 15,244,482 2019-08-05 36 months since the
Management Corporation
release date
No transferring within
Shanghai Guosheng Group
4 15,244,482 2019-08-05 36 months since the
Investment Co., Ltd.
release date
No transferring within
HuaAn Future Asset
5 15,244,482 2019-08-05 36 months since the
–ICBC- Anxin Trust Co., Ltd.
release date
No transferring within
6 SIG Asset Management Co., Ltd. 10,162,988 2019-08-05 36 months since the
release date
Products of " HuaAn Future Asset－ICBC－Anxin Trust Co., Ltd." is controlled and
managed by Huaan Fund Management Co., Ltd.; Shanghai Jin Jiang International
Investment Management Co., Ltd., which is controlled by the same ultimate company
with Jin Jiang Hotels Group, holds 20% of the shareholding of Huaan Fund
A description of the above shareholders' relationship or Management Co., Ltd.. Therefore, Jin Jiang Hotels Group is related to Huaan Fund
concerted action Management. Except aforementioned, it is unknown for the Company that whether
there was any associated relationship among the top ten tradable shareholders or
whether they are persons acting in concert as stipulated in the Measures for the
Administration of Information Disclosure of Changes in the Shareholding of Listed
Companies.
(III). Strategic investors, or general persons who become the top 10 shareholders as a result of
rights issue
□Applicable √Not applicable
III. Change of controlling shareholders or actual controllers
□Applicable √Not applicable
48
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section VII Preferred stock
□Applicable √Not applicable
49
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section VIII Directors, Supervisors and Senior Management
I. Changes in shareholding
(I). Changes in shareholding of on-board/off-board directors, supervisors and senior
managerial personnel
□Applicable √Not applicable
(II). Details of equity incentives of directors, supervisors and senior management during
the reporting period
□Applicable √Not applicable
II. Changes in directors, supervisors and senior management of the company
√Applicable □Not applicable
Name Position After the change
Li Yukai Vice President Off-board
Description of directors, supervisors and senior management of the company
□Applicable √Not applicable
III. Others
□Applicable √Not applicable
50
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section IX Corporate Bond
□Applicable √Not applicable
51
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section X Financial Statements
The financial statements for the first half year in 2017 have been prepared in accordance with Accounting
Standards for Business Enterprises by the Company and have been reviewed by Deloitte Touche
Tohmatsu CPA LLP with the unqualified review report (De Shi Bao (Yue)Zi(17)No.R00069) .
I. Review report (attached)
II Financial statements (attached)
III. Notes to the financial statements(attached)
52
Shanghai Jin Jiang International Hotels Development Co., Ltd. 2017 Semiannual Report
Section XI Document for Reference
Financial statements signed and sealed by legal representative, person in charge of
financial institutions, and person in charge of the financial department;
Document for Reference
The original of all the documents and announcements disclosed in Shanghai
Securities News and Ta Kung Pao during the reporting period.
Chairman of the Board: Yu Minliang
Reporting date approved by Board of directors: 29 August 2017
53
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
REVIEW REPORT
De Shi Bao (Yue) Zi (17) No. R00069
TO THE SHAREHOLDERS OF SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO.,
LTD.:
We have reviewed the accompanying financial statements of Shanghai Jin Jiang International Hotels Development
Co., Ltd. (“the Company”), which comprise the Companys and consolidated balance sheets as at 30 June 2017,
and the Companys and consolidated income statements, the Companys and consolidated statements of changes in
shareholders equity and the Companys and consolidated cash flow statements for the period from 1 January 2017
to 30 June 2017, and the notes to the financial statements. Managements responsibility is to prepare these financial
statements while our responsibility is to express a review report on these financial statements based on our review
work.
We conducted our review in accordance with Accounting Standards for Business Enterprises No.2101-Review of
Financial Statements which require that we plan and implement the review to obtain reasonable assurance as to
whether the financial statements are free from material misstatement. A review is limited primarily to procedures
as enquiry of entitys personnel and analytical review procedures applied to the financial information and thus
provides less assurance than an audit. We have not performed an audit, and therefore we do not express an audit
opinion.
Based on our review, nothing that causes us to believe that the accompanying financial statements fail to be
prepared in accordance with Accounting Standards for Business Enterprises or fail to present fairly, in all material
respects, the financial position, operating results and the cash flow of the company that we reviewed has come to
our attention..
Deloitte Touche Tohmatsu CPA LLP Chinese Certified Public Accountant
Shanghai, China Tang Lianjiong
Chen Yan
29 August 2017
The review report and the accompanying financial statements are English translations of the Chinese review report
and statutory financial statements prepared under accounting principles and practices generally accepted in the
People’s Republic of China. These financial statements are not intended to present the financial position and results
of operations and cash flows in accordance with accounting principles and practices generally accepted in other
countries and jurisdictions. Where the English version does not conform to the Chinese version, the Chinese version
prevails.
- 54 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
30 JUNE 2017
CONSOLIDATED BALANCE SHEET
RMB
30 June 31 December 30 June 31 December
Item Note Item Note
2017 2016 2017 2016
Current Assets: Current Liabilities:
Cash and bank balances (V)1 8,552,651,949.49 7,789,240,839.32 Short-term borrowings (V)19 959,177,065.36 4,127,927,127.66
Derivative financial
Derivative financial assets - - 5,175,221.63 6,158,207.57
liabilities
Notes receivable - - Notes payable - -
Accounts receivable (V)2 892,513,312.63 633,618,747.68 Accounts payable (V)20 1,956,484,199.43 2,053,696,691.93
Advances to suppliers (V)3 264,074,163.69 309,862,334.50 Advances from customers (V)21 717,999,715.58 675,142,633.66
Interest receivable (V)4 351,097,117.18 142,433,131.74 Employee benefits payable (V)22 754,488,353.79 669,713,095.27
Dividends receivable (V)5 40,741,672.29 15,129,696.45 Taxes payable (V)23 392,041,733.20 329,938,650.30
Other receivables (V)6 494,976,228.22 453,281,320.77 Interest payable (V)24 24,255,363.82 48,865,337.58
Inventories (V)7 71,092,176.59 77,162,593.55 Dividends payable (V)25 2,196,167.45 429,303.93
Non-current assets due
(V)17 9,247,960.85 9,000,000.00 Other payables (V)26 1,196,677,875.80 1,078,844,258.92
within one year
Non-current liabilities due
Other current assets (V)8 275,538,050.13 257,464,801.18 (V)27 6,276,689,598.17 3,075,199,327.56
within one year
Total Current Assets 10,951,932,631.07 9,687,193,465.19 Other current liabilities - -
Total current liabilities 12,285,185,294.23 12,065,914,634.38
Non-current Assets::
Available-for-sale financial
(V)9 1,171,115,849.07 1,323,219,708.84 Non-current Liabilities:
assets
Held-to-maturity
- - Long-term borrowings (V)28 12,954,325,523.38 14,935,470,530.53
investments
Long-term receivables - - Bonds payable - -
Long-term equity
(V)10 388,548,635.13 332,309,433.79 Long-term payables (V)29 151,164,139.83 145,511,003.10
investments
Long-term employee benefits
Investment properties - - (V)30 57,686,524.56 49,009,564.56
payable
Fixed assets (V)11 6,873,898,943.04 6,808,114,114.61 Provisions (V)31 32,440,189.51 49,921,877.75
Construction in progress (V)12 577,417,406.14 671,575,784.78 Deferred tax liabilities (V)16 2,408,233,758.36 2,514,613,845.49
Materials for construction of
- - Other non-current liabilities (V)32 160,364,091.33 117,626,648.42
fixed assets
Disposal of fixed assets - - Total non-current liabilities 15,764,214,226.97 17,812,153,469.85
Intangible assets (V)13 7,398,512,741.17 7,340,669,279.80 Total Liabilities 28,049,399,521.20 29,878,068,104.23
Development expenditure - - Shareholders’ equity:
Goodwill (V)14 11,370,524,107.39 10,914,544,764.35 Share capital (V)33 957,936,440.00 957,936,440.00
Long-term prepaid expenses (V)15 2,853,149,501.03 2,952,469,375.45 Capital reserve (V)34 8,810,263,080.38 8,844,864,248.76
Deferred tax assets (V)16 618,263,672.31 549,724,160.40 Less: Treasury shares - -
Other non-current assets (V)17 83,039,556.26 3,616,245,114.60 Other comprehensive income (V)35 548,416,701.54 601,259,290.86
Total non-current assets 31,334,470,411.54 34,508,871,736.62 Surplus reserve (V)36 620,398,935.89 620,398,935.89
Retained profits (V)37 1,729,367,734.77 1,776,723,536.56
Total shareholders equity
attributable to the 12,666,382,892.58 12,801,182,452.07
shareholders of the Company
Minority interests 1,570,620,628.83 1,516,814,645.51
TOTAL
SHAREHOLDERS’ 14,237,003,521.41 14,317,997,097.58
EQUITY
TOTAL LIABILITIES
TOTAL ASSETS 42,286,403,042.61 44,196,065,201.81 AND SHAREHOLDERS’ 42,286,403,042.61 44,196,065,201.81
EQUITY
The accompanying notes form part of the financial statements.
The financial statements from page 2 to page 126 are issued by following leaders:
Legal Representative: _Yu Min Liang ________________ Chief Financial Officer: ___Shen Li____________
Person in Charge of the Accounting Body: ___Wu Lin_____________
- 55 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
30 June 2017
COMPANY’S BALANCE SHEET
RMB
30 June 31 December 30 June 31 December
Item Note Item Note
2017 2016 2017 2016
Current Assets: Current Liabilities:
Cash and bank balances (XIV)1 4,658,500,610.07 4,244,630,677.11 Short-term borrowings (XIV)17 930,000,000.00 3,250,000,000.00
Derivative financial
Derivative financial assets - - - -
liabilities
Notes receivable - - Notes payable - -
Accounts receivable (XIV)2 14,641,329.60 5,603,612.19 Accounts payable 78,817,723.77 100,489,717.02
Advances to suppliers 578,211.63 632,730.05 Advances from customers 8,119,009.75 6,892,911.66
Interest receivable (XIV)3 349,849,547.48 141,075,416.17 Employee benefits payable (XIV)18 38,901,901.97 30,727,270.88
Dividends receivable (XIV)4 170,518,065.41 14,579,808.60 Taxes payable (XIV)19 2,176,547.89 7,993,703.00
Other receivables (XIV)5 101,504,653.80 106,230,522.45 Interest payable 8,995,468.33 35,188,307.79
Inventories (XIV)6 3,055,359.54 2,652,731.98 Dividends payable 463,047.45 429,303.93
Non-current assets due
- - Other payables (XIV)20 157,880,930.71 323,294,171.76
within one year
Non-current liabilities due (XIV)
Other current assets (XIV)7 16,004,968.22 28,143,925.15 220,739,750.00 120,739,750.00
within one year 21.22
Total Current Assets 5,314,652,745.75 4,543,549,423.70 Other current liabilities - -
Total current liabilities 1,446,094,379.87 3,875,755,136.04
Non-current Assets::
Available-for-sale financial
621,319,812.52 773,401,972.43 Non-current Liabilities:
assets
Held-to-maturity
- - Long-term borrowings (XIV)21 7,700,000,000.00 7,800,000,000.00
investments
Long-term receivables (XIV)8 10,328,000.00 10,328,000.00 Bonds payable - -
Long-term equity
(XIV)9 14,407,448,540.34 14,381,786,174.96 Long-term payables - -
investments
Long-term employee
Investment properties - - - -
benefits payable
Fixed assets (XIV)10 95,374,251.33 101,369,260.95 Provisions - -
Construction in progress (XIV)11 71,693,917.76 65,248,189.61 Deferred tax liabilities (XIV)15 120,091,775.26 154,203,668.83
Materials for construction of
- - Other non-current liabilities (XIV)22 4,045,250.00 4,387,900.00
fixed assets
Total non-current
Disposal of fixed assets - - 7,824,137,025.26 7,958,591,568.83
liabilities
Intangible assets (XIV)12 53,628,488.56 54,738,118.72 TOTAL LIABILITIES 9,270,231,405.13 11,834,346,704.87
SHAREHOLDERS’
Development expenditure - -
EQUITY:
Long-term prepaid expenses (XIV)13 180,419,727.15 192,565,739.65 Share capital 957,936,440.00 957,936,440.00
Deferred tax assets - - Capital reserve 9,189,446,079.42 9,224,047,247.80
Other non-current assets (XIV)14 280,000,000.00 3,831,002,806.80 Less: Treasury shares - -
Other comprehensive
Total non-current assets 15,720,212,737.66 19,410,440,263.12 (XIV)23 391,821,608.97 496,039,633.30
income
Surplus reserve 620,398,935.89 620,398,935.89
Retained profits 605,031,014.00 821,220,724.96
TOTAL
SHAREHOLDERS’ 11,764,634,078.28 12,119,642,981.95
EQUITY
TOTAL LIABILITIES
TOTAL ASSETS 21,034,865,483.41 23,953,989,686.82 AND SHAREHOLDERS’ 21,034,865,483.41 23,953,989,686.82
EQUITY
Legal Representative: __ Yu Min Liang _______________ Chief Financial Officer: ___ Shen Li ______________
Person in Charge of the Accounting Body: _____Wu Lin _____________
- 56 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
CONSOLIDATED INCOME STATEMENT
RMB
For the period from 1 For the period from 1
Item Note January 2017 to 30 June January 2016 to 30 June
2017 2016
I. Operating income (V)38 6,289,013,150.53 4,368,181,085.26
Less: Operating costs (V)38.39 603,775,121.43 434,096,326.04
Taxes and levies (V)40 106,615,468.76 83,397,356.63
Selling expenses (V)39 3,631,647,717.77 2,618,711,542.75
Administrative expenses (V)39 1,512,207,360.64 960,758,802.61
Financial expenses (V)41 218,769,598.00 229,518,074.47
Impairment losses of assets (V)42 13,767,386.24 14,509,980.72
Add: Profit arising from changes in fair value - -
Investment income (V)43 261,207,062.43 333,004,292.47
Including: Investment income from investment in associates
and joint ventures
53,411,404.56 50,550,196.85
Other income (V)44 18,100,017.83 -
II .Operating profit 481,537,577.95 360,193,294.51
Add: Non-operating income (V)45 14,972,281.20 73,500,212.36
Including: Gains from disposal of non-current assets 3,127,579.88 10,884,656.02
Less: Non-operating expenses (V)46 26,643,327.22 13,456,304.48
Including: Losses from disposal of non-current assets 17,112,648.73 3,907,744.46
III. Total profit 469,866,531.93 420,237,202.39
Less: Income tax expenses (V)47 18,794,301.05 116,845,075.66
IV. Net profit 451,072,230.88 303,392,126.73
Net profit attributable to owners of the Company 412,453,689.41 299,157,333.01
Profit or loss attributable to minority interests 38,618,541.47 4,234,793.72
V. Other comprehensive income (loss), net of tax (V)35 (43,184,101.50) (234,190,988.17)
Other comprehensive income
attributable to owners of the Company, net of tax
(52,842,589.32) (245,118,169.58)
(I) Other comprehensive income that will not be reclassified
subsequently to profit or loss
- (4,474,875.79)
1.Changes as a result of premeasurement of the net defined
benefit plan liability or asset
- (4,474,875.79)
(II)Other comprehensive income (loss) that will be reclassified
subsequently to profit or loss
(52,842,589.32) (240,643,293.79)
1.Shares of other comprehensive income that will be
reclassified subsequently into profit or loss by the investee 186,422.60 -
under equity method
2.Profit or loss arising from changes in fair value of
(104,218,024.33) (230,222,566.06)
available-for-sales financial assets
3.Effective proportion of profit or loss of cash flow
829,597.00 (728,428.74)
hedging
4.Translation differences of financial statements
50,359,415.41 (9,692,298.99)
denominated in foreign currency
Other comprehensive income (loss) attributable to
9,658,487.82 10,927,181.41
minority interests, net of tax
VI. Total comprehensive income 407,888,129.38 69,201,138.56
Comprehensive income attributable to owners of the Company 359,611,100.09 54,039,163.43
Comprehensive income attributable to minority interests 48,277,029.29 15,161,975.13
VII. Earnings per share:
(I) Basic earnings per share (V)52 0.4306 0.3718
(II) Diluted earnings per share (V)52 N/A N/A
Legal Representative: _ Yu Min Liang ________________ Chief Financial Officer: ___ Shen Li ______________
Person in Charge of the Accounting Body: _____Wu Lin _______________
- 57 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
COMPANY’S INCOME STATEMENT
RMB
For the period from 1 For the period from 1
Item Note January 2017 to 30 June January 2016 to 30 June
2017 2016
I. Operating income (XIV)24 116,945,723.92 78,902,643.33
Less: Operating costs (XIV)24.25 15,285,367.42 10,554,868.66
Taxes and levies 658,575.63 2,901,985.28
Selling expenses (XIV)25 89,464,577.51 72,421,729.19
Administrative expenses (XIV)25 59,996,304.43 60,769,283.40
Financial expenses (XIV)26 100,959,721.34 114,160,413.79
Impairment losses of assets 36,320.87 21,186.48
Add: Gains arising from changes in fair value - -
Investment income (XIV)27 392,981,341.22 525,958,103.44
Including: Income from investment in associates and joint
52,153,017.11 48,821,164.65
ventures
Other income 342,650.00 -
II .Operating profit 243,868,847.94 344,031,279.97
Add: Non-operating income 360,980.73 11,377,345.89
Less: Non-operating expenses 3,858.98 33,395.70
Including: Losses from disposal of non-current assets 778.30 10,468.29
III. Total profit 244,225,969.69 355,375,230.16
Less: Income tax expenses 606,189.45 11,195,370.67
IV. Net profit 243,619,780.24 344,179,859.49
V. Other comprehensive income (loss), net of tax (104,218,024.33) (252,630,069.49)
Other comprehensive income (loss) that will be
(104,218,024.33) (252,630,069.49)
reclassified subsequently to profit or loss
1. Profit or loss arising from changes in fair value
(104,218,024.33) (252,630,069.49)
of available-for-sales financial assets
VI. Total Comprehensive Income 139,401,755.91 91,549,790.00
Legal Representative: __ Yu Min Liang _______________ Chief Financial Officer: ___ Shen Li ______________
Person in Charge of the Accounting Body: _____Wu Lin _______________
- 58 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
CONSOLIDATED CASH FLOW STATEMENT
RMB
For the period from 1 For the period from 1
Item Note January 2017 to 30 June January 2016 to 30 June
2017 2016
I. Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 6,444,479,645.53 4,444,711,993.77
Receipts of taxes refund 4,473,060.00 15,952,197.30
Other cash receipts relating to operating activities (V)48(1) 213,275,922.50 96,244,768.07
Sub-total of cash inflows 6,662,228,628.03 4,556,908,959.14
Cash payments for goods purchased and services received 1,478,366,206.49 976,031,888.76
Cash payments to and on behalf of employees 1,960,391,938.38 1,321,410,478.32
Payments of taxes 431,683,406.46 382,644,522.72
Other cash payment relating to operating activities (V)48(2) 1,394,575,841.18 1,114,260,224.95
Sub-total of cash outflows 5,265,017,392.51 3,794,347,114.75
Net cash flows from operating activities (V)49(1) 1,397,211,235.52 762,561,844.39
II. Cash flows from investing activities:
Cash receipts from disposal and recovery of investments 111,777,935.18 251,317,907.13
Cash receipts from returns on investments 139,371,166.16 49,191,240.93
Net cash receipts from disposal of fixed assets, intangible assets
and other long-term assets
10,435,688.24 8,790,907.52
Net cash receipts to disposals of subsidiaries and other business units (V)49(3) 725,901.20 -
Other cash receipts relating to investing activities (V)48(3) 45,000,000.00 -
Sub-total of cash inflows 307,310,690.78 309,300,055.58
Net cash payments to acquisition of subsidiaries and other business
units
(V)49(2) 418,742,874.09 6,940,397,644.67
Net cash payments to disposals of subsidiaries and other
(V)49(4) 689,279.31 -
business units
Cash payments to acquire fixed assets, intangible assets and
485,018,057.68 423,369,006.41
other long-term assets
Cash payments to acquire investments 101,150,002.00 4,375,457.62
Other cash payments relating to investing activities (V)48(4) 6,353,619.89 1,189,446,851.30
Sub-total of cash outflows 1,011,953,832.97 8,557,588,960.00
Net cash flows from investing activities (704,643,142.19) (8,248,288,904.42)
III. Cash flows from financing activities:
Cash receipts from capital contributions - 22,538,570.00
Including: Cash receipts from capital contributions by
minority shareholders of subsidiaries
- 22,538,570.00
Cash receipts from borrowings (V)48(5) 6,218,431,860.49 16,920,000,000.00
Cash receipts relating to other financing activities (V)48(6) 1,472,378,295.96 65,181,237.12
Sub-total of cash inflows 7,690,810,156.45 17,007,719,807.12
Cash repayments of borrowings (V)48(7) 8,757,456,566.03 6,612,341,287.62
Cash payments for interest expenses and distribution of dividends or
profits
776,212,062.16 688,872,882.55
Including: Cash payments to minority shareholders for distribution of
dividends or profits
1,425,231.93 236,043.43
Other cash payments relating to financing activities (V)48(8) 8,607,650.81 5,495,020.98
Sub-total of cash outflows 9,542,276,279.00 7,306,709,191.15
Net cash flows from financing activities (1,851,466,122.55) 9,701,010,615.97
IV. Effect of foreign exchange rate changes on cash and cash equivalents 39,845,691.83 30,054,183.36
V. Net increase(decrease) in cash and cash equivalents (1,119,052,337.39) 2,245,337,739.30
Add: Opening balance of cash and cash equivalents (V)49(5) 6,358,092,062.93 3,797,129,642.55
VI. Closing balance of cash and cash equivalents (V)49(5) 5,239,039,725.54 6,042,467,381.85
Legal Representative: __ Yu Min Liang _______________ Chief Financial Officer: ___ Shen Li ______________
Person in Charge of the Accounting Body: ____Wu Lin ________________
- 59 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
COMPANY’S CASH FLOW STATEMENT
RMB
For the period from 1 For the period from 1
Item Note January 2017 to 30 June January 2016 to 30 June
2017 2016
I. Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 117,264,078.85 78,532,682.78
Other cash receipts relating to operating activities 70,742,648.22 30,175,044.28
Sub-total of cash inflows 188,006,727.07 108,707,727.06
Cash payments for goods purchased and services received 33,912,505.74 22,539,400.84
Cash payments to and on behalf of employees 58,024,562.65 47,407,849.12
Payments of various taxes 12,601,101.30 110,898,102.57
Other cash payment relating to operating activities 27,920,033.48 20,151,714.15
Sub-total of cash outflows 132,458,203.17 200,997,066.68
Net cash flows from operating activities (XIV)29(1) 55,548,523.90 (92,289,339.62)
II. Cash flows from investing activities:
Cash receipts from recovery of investments 132,784,050.62 442,334,188.43
Cash receipts from returns on investments 190,518,036.49 73,644,471.03
Net cash receipts from disposal of fixed assets, intangible
230.00 1,070.00
assets and other long-term assets
Other cash receipts relating to investing activities 5,300,000.00 -
Sub-total of cash inflows 328,602,317.11 515,979,729.46
Net cash payments to acquisition of subsidiaries and other
174,960,000.00 8,081,170,000.00
business units
Cash payments to acquire and construct fixed assets,
34,231,368.83 76,697,979.69
intangible assets and other long-term assets
Cash payments to acquire investments 100,000,000.00 13,000,000.00
Other cash payments relating to investing activities (XIV)28(1) 6,353,619.89 1,161,757,520.10
Sub-total of cash outflows 315,544,988.72 9,332,625,499.79
Net cash flows from investing activities 13,057,328.39 (8,816,645,770.33)
III. Cash flows from financing activities:
Cash receipts from borrowings 1,530,000,000.00 15,770,000,000.00
Cash receipts relating to other financing activities (XIV)28(2) 1,472,378,295.96 19,364,837.12
Sub-total of cash inflows 3,002,378,295.96 15,789,364,837.12
Cash repayments of borrowings 3,850,000,000.00 5,447,000,000.00
Cash payments for interest expenses and distribution of
685,893,992.21 595,326,051.13
dividends or profits
Sub-total of cash outflows 4,535,893,992.21 6,042,326,051.13
Net cash flows from financing activities (1,533,515,696.25) 9,747,038,785.99
IV. Effect of foreign exchange rate changes on cash
(10,644,223.08) -
and cash equivalents
V.Net increase (decrease) in cash and cash equivalents (1,475,554,067.04) 838,103,676.04
Add: Opening balance of cash and cash equivalents (XIV)29(2) 2,827,562,677.11 2,289,364,648.62
VI. Closing balance of cash and cash equivalents (XIV)29(2) 1,352,008,610.07 3,127,468,324.66
Legal Representative: ___ Yu Min Liang ______________ Chief Financial Officer: ___ Shen Li ______________
Person in Charge of the Accounting Body: ____Wu Lin ________________
- 60 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
RMB
For the period from 1 January 2017 to 30 June 2017
Attributable to owners of the Company
Item Other
Minority interests Total owners equity
Share capital Capital reserve comprehensive Surplus reserve Retained profits
income
I. Closing balance of the preceding period 957,936,440.00 8,844,864,248.76 601,259,290.86 620,398,935.89 1,776,723,536.56 1,516,814,645.51 14,317,997,097.58
Add: Changes in accounting policies - - - - - - -
II. Opening balances of the current period 957,936,440.00 8,844,864,248.76 601,259,290.86 620,398,935.89 1,776,723,536.56 1,516,814,645.51 14,317,997,097.58
III. Changes for the period
(I)Total comprehensive income (losses) - - (52,842,589.32) - 412,453,689.41 48,277,029.29 407,888,129.38
(II) Owners contributions and reduction in capital
1. Ordinary shares invested by the shareholders - - - - - - -
2. Capital contribution from minority interests
- - - - - - -
of the subsidiaries
3. Capital reduction from minority interests of
- - - - - (3,236,256.60) (3,236,256.60)
the subsidiaries (Note(VII)2)
(III) Profit distribution
1. Transfer to surplus reserve - - - - - - -
2. Distribution to shareholders - - - - (459,809,491.20) (3,158,351.93) (462,967,843.13)
(IV) Transfer within shareholders equity - - - - - - -
(V) Special reserve - - - - - - -
(VI) Others
1．Business combination not involving enterprises
- - - - - 22,596,408.10 22,596,408.10
under common control (Note(VI)1)
2．Disposal of subsidiaries (Note(VI)2) - - - - - (10,672,845.54) (10,672,845.54)
3．Others (Note(V)10) - (34,601,168.38) - - - - (34,601,168.38)
IV. Closing balance of the current period 957,936,440.00 8,810,263,080.38 548,416,701.54 620,398,935.89 1,729,367,734.77 1,570,620,628.83 14,237,003,521.41
Legal Representative: ___ Yu Min Liang ______________ Chief Financial Officer: __ Shen Li _______________
Person in Charge of the Accounting Body: ____Wu Lin ________________
- 61 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
For the period from 1 January 2016 to 30 June 2016
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
RMB
For the period from 1 January 2016 to 30 June 2016
Attributable to owners of the Company
Item Other
Minority interests Total owners equity
Share capital Capital reserve comprehensive Surplus reserve Retained profits
income
I. Closing balance of the preceding period 804,517,740.00 4,482,097,548.95 908,472,146.16 579,263,664.10 1,509,447,901.74 190,706,260.51 8,474,505,261.46
Add: Changes in accounting policies - - - - - - -
II. Opening balances of the current period 804,517,740.00 4,482,097,548.95 908,472,146.16 579,263,664.10 1,509,447,901.74 190,706,260.51 8,474,505,261.46
III. Changes for the period
(I)Total comprehensive income (losses) - - (245,118,169.58) - 299,157,333.01 15,161,975.13 69,201,138.56
(II) Owners contributions and reduction in capital
1.Ordinary shares invested by the shareholders - - - - - - -
2.Capital contribution from minority interests of
- - - - - 22,538,570.00 22,538,570.00
the subsidiaries
3.Capital reduction from minority interests of the
- - - - - - -
subsidiaries
(III) Profit distribution
1. Transfer to surplus reserve - - - - - - -
2. Distribution to shareholders - - - - (386,168,515.20) (236,043.43) (386,404,558.63)
(IV) Transfer within shareholders equity - - - - - - -
(V) Special reserve - - - - - - -
(VI) Others - - - - - 1,011,932,781.96 1,011,932,781.96
IV. Closing balance of the current period 804,517,740.00 4,482,097,548.95 663,353,976.58 579,263,664.10 1,422,436,719.55 1,240,103,544.17 9,191,773,193.35
Legal Representative: ___ Yu Min Liang ______________ Chief Financial Officer: ____ Shen Li _____________
Person in Charge of the Accounting Body: ____Wu Lin ________________
- 62 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
THE COMPANY’S STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
RMB
For the period from 1 January 2017 to 30 June 2017 For the period from 1 January 2016 to 30 June 2016
Other Other
Item Total owners
Share capital Capital reserve comprehensive Surplus reserve Retained profits Share capital Capital reserve comprehensive Surplus reserve Retained profits Total owners equity
equity
income income
I. Closing balance of the
957,936,440.00 9,224,047,247.80 496,039,633.30 620,398,935.89 821,220,724.96 12,119,642,981.95 804,517,740.00 4,871,182,047.73 893,238,567.71 579,263,664.10 837,171,794.10 7,985,373,813.64
preceding period
Add: Changes in accounting
- - - - - - - - - - - -
policies
II． Opening balances of the
957,936,440.00 9,224,047,247.80 496,039,633.30 620,398,935.89 821,220,724.96 12,119,642,981.95 804,517,740.00 4,871,182,047.73 893,238,567.71 579,263,664.10 837,171,794.10 7,985,373,813.64
current period
III. Changes for the period
(I)Total comprehensive
- - (104,218,024.33) - 243,619,780.24 139,401,755.91 - - (252,630,069.49) - 344,179,859.49 91,549,790.00
Income(losses)
(II) Owners contributions
- - - - - - - - - - - -
and reduction in capital
(III) Profit distribution
1. Transfer to surplus reserve - - - - - - - - - - - -
2. Distribution to shareholders - - - - (459,809,491.20) (459,809,491.20) - - - - (386,168,515.20) (386,168,515.20)
(IV) Transfer within
- - - - - - - - - - - -
shareholders equity
(V) Special reserve - - - - - - - - - - - -
(VI) Others (Note(XIV)9) - (34,601,168.38) - - - (34,601,168.38) - - - - - -
IV. Closing balance of the
957,936,440.00 9,189,446,079.42 391,821,608.97 620,398,935.89 605,031,014.00 11,764,634,078.28 804,517,740.00 4,871,182,047.73 640,608,498.22 579,263,664.10 795,183,138.39 7,690,755,088.44
current period
Legal Representative: __ Yu Min Liang _______________ Chief Financial Officer: ___ Shen Li ______________
Person in Charge of the Accounting Body: ___Wu Lin _________________
- 63 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
I. GENRAL
Shanghai Jin Jiang International Hotels Development Co., Ltd. (hereinafter "the Company") is a limited
company incorporated in Shanghai, the Peoples Republic of China (the "PRC") on 9 June 1993 as a joint stock
limited company. The Company and its subsidiaries (together, "the Group") are principally engaged in operation
and management of limited service hotels, food and cuisine at home and aboard.
The company holds a business license with which unified social credit identifier is 91310000132203715W. The
legal representative is Yu Minliang.
In June 1993, the Company was established by private placing with total share capital of RMB 235,641,500.
In December 1994, the Company issued 100,000,000 domestically-listed foreign shares (B shares) of RMB 1
per share at premium with the issue price of USD 0.35 per share. On 15 December 1994, these shares
commenced listing in Shanghai Stock Exchange and the share capital of the Company accordingly increased to
RMB 335,641,500.
In September 1996, the Company issued public offering of 19,000,000 domestically-listed RMB ordinary shares
(A share) of RMB 1 per share at premium with the issue price of RMB 4.90. On 11 October 1996, these A
shares, together with 6,000,000 staff owned shares, commenced listing in Shanghai Stock Exchange and the
share capital of the Company accordingly increased to RMB 354,641,500.
In July 1997, the Company capitalized its capital surplus into share capital on a 10:2 proportion, resulting in the
increase of share capital to RMB 425,569,800.
In July 1998, the Company prorated 2 bonus shares for every 10 shares to all shareholders and capitalized its
capital surplus into share capital on a 10:1 proportion, resulting in the increase of share capital to RMB
553,240,740.
In January 2001, upon the approval of China Securities Regulatory Commission, the Company issued additional
offering of 50,000,000 domestically-listed RMB ordinary shares (A shares) of RMB 1 per share at premium
with the issue price of RMB 10.80. The additional offering commenced listing in Shanghai Stock Exchange
started from 19 January 2001 and the share capital of the Company accordingly increased to RMB 603,240,740.
On 23 January 2006, the share merger reform was carried out. The unlisted A share shareholders of the
Company transferred to public A shareholders registered in the book as at the registration date of equity
shares(19 January 2006)3.1 shares for every 10 listed shares. In accordance with the share merger reform
program, 49,009,806 shares of non-tradable floating shares were listed on 23 January 2007, 10,065,610 shares
of non-tradable floating shares were listed on 21 March 2007, 30,162,037 shares of non-tradable floating shares
were listed on 23 January 2008 and 229,151,687 shares of non-tradable floating shares were listed on 23
January 2008. As at 23 January 2009, all shares held by the shareholders formerly holding the unlisted shares
were listed, 318,389,140 shares of non-tradable floating shares were listed.
On 29 October 2014, in accordance with China Securities Regulatory Commission regulatory permission to
[2014] no. 1129 "On the Approval of Non-public Share Issuance of Shanghai Jin Jiang International Hotel
Development co., LTD.,” China Securities Regulatory Commission approved non-public share issuing items of
the Company. According to the approval, the Company issued 201,277,000 (A share) non-public issuing shares
which have RMB 1 per share at premium with the issue price of RMB 15.08 per share to HongYi(Shanghai)
Investment Fund Center LLP ("HongYi Investment Fund) and Shanghai Jin Jiang International Hotels (Group)
CO.,LTD ("Jin Jiang Hotels Group"). Total raised fund is RMB 3,035,257,160. Total raised fund deducts issuing
expenses of RMB 7,001,277, the net raised fund is RMB3, 028,255,883 in which RMB 201,277,000 included in
equity and RMB 2,826,978,883 included in capital reserve. The share capital of the Company accordingly
increased to RMB 804,517,740.
- 64 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
I. GENERAL - continued
On 16 February 2015, the Companys wholly-owned subsidiary, Luxembourg Sailing Investment Co.sarl
("Sailing Investment") entered into an equity acquisition agreement with Star SDL Investment Co S.à r.l. ("Star
SDL"), agreeing to acquire all the equity in Star SDLs wholly-owned subsidiary Groupe du Louvre ("GDL").
The equity transfer was completed on 27 February 2015.
On 18 September 2015, the Company entered into an equity acquisition agreement with the former shareholder
of Keystone Lodging Holdings Limited("Keystone") to acquire 81.0034% equity interests in Keystone. The
equity delivery was completed on 26 February 2016, and the Company accordingly became the controlling
shareholder of Keystone.
On 28 April 2016, the Company entered into an Equity Purchase Agreement with Mr. HUANG, Deman to
respectively purchase 80% share equity in Vienna Hotels Co., Ltd ("Vienna") and Longevity Village Catering
Chain Co., Ltd ("Longevity Village"). On 1 July 2016, the share equity acquisition was completed and the
Company became the shareholding company of Vienna and Longevity Village.
On 12 July 2016, in accordance with China Securities Regulatory Commission regulatory permission to [2016]
No. 1090 "On the Approval of Non-public Share Issuance of Shanghai Jin Jiang International Hotel
Development co., LTD.,” China Securities Regulatory Commission approved non-public share issuing items of
the Company. According to the approval, the Company issued 153,418,700 (A share) in total with par value
RMB 1 at the price of RMB 29.45 per share to Jin Jiang Hotels Group, HongYi Investment Fund, Shanghai
Guosheng(Group) Investment Co., Ltd, China Great Wall Asset Management Corporation, HuaAn Future Asset
Management(Shanghai) Co., Ltd. and SIG Asset Management Co., Ltd. Total raised fund is RMB4,
518,180,715.00, of which the net raised fund net of issuance expenses and relevant deductible input tax is RMB
4,506,283,900.07 with RMB 153,418,700.00 included in share capital, and RMB 4,352,865,200.07 included in
capital reserve. The total share capital of the Company accordingly increased to RMB 957,936,440.00.
As of 30 June 2017, the Companys total shares amounted to 957,936,440shares in total, including 482,007,225
shares held by Jin Jiang Hotels Group, representing 50.32% of the total share capital, and Jin Jiang Hotels
Group was the parent company of the Company. Jin Jiang International (Holdings) Co., Ltd. ("Jin Jiang
International") was the parent company of Jin Jiang Hotels Group and the ultimate holding company of the
Company.
On 29 August 2017, Board of Directors of the Company authorized the Companys and consolidated financial
statements for issuance.
II. BASIS OF PREPARATION OF FINANCIAL STATEMENTS
Basis of preparation
The Group has adopted the Accounting Standards for Business Enterprises ("ASBE") and relevant regulations
issued by the Ministry of Finance ("MoF"). In addition, the Group has disclosed relevant financial information
in accordance with Information Disclosure and Presentation Rules for Companies Offering Securities to the
Public No. 15－ General Provisions on Financial Reporting (Revised in 2014).
Basis of accounting and principle of measurement
The Group adopts the accrual basis of accounting. Except for certain financial instruments which are measured
at fair value, the Group adopts the historical cost as the principle of measurement in the financial statements.
Where assets are impaired, provisions for asset impairment are recognized in accordance with relevant
requirements.
Where the historical cost is adopted as the measurement basis, assets are recorded at the amount of cash or cash
equivalents paid or at the fair value of the consideration given to acquire them at the time of acquisition.
Liabilities are recorded at the amount of proceeds or assets received or the contractual amounts for assuming the
present obligation, or, at the amounts of cash or cash equivalents expected to be paid to settle the liabilities in
the normal course of business
- 65 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
II. BASIS OF PREPARATION OF FINANCIAL STATEMENTS - continued
Basis of accounting and principle of measurement - continued
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date, regardless of whether that price is directly
observable or estimated using valuation technique. Fair value measurement and/or disclosure in the financial
statements are determined according to the above basis.
Fair value measurements are categorized into Level 1, 2 or 3 based on the degree to which the inputs to the fair
value measurements are observable and the significance to the inputs to the fair value measurement in its
entirety, which are described as follows:
Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the
entity can access at the measurement date;
Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the
asset or liability, either directly or indirectly; and
Level 3 inputs are unobservable inputs for the asset or liability.
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES
1. Statement of compliance with the ASBE
The financial statements of the Company have been prepared in accordance with ASBE, and present truly and
completely, the Companys and consolidated financial position as of 30 June 2017, and the Companys and
consolidated results of operations and cash flows for the period from 1 January to 30 June 2017.
2. Accounting period
The Group adopts the calendar year as its accounting year, i.e. from 1 January to 31 December. Accounting
period for this financial statement is for the period from 1 January to 30 June 2017.
3. Business cycle
The Group principally engaged in operation and management of limited service hotels, food and cuisine at
home and abroad. The business cycle is generally about 12 months.
4. Functional currency
Renminbi ("RMB") is the currency of the primary economic environment in which the Company and its
domestic subsidiaries operate. The Companys foreign subsidiary chooses its functional currency on the basis of
the primary economic environment in which it operates. The Group adopts RMB to prepare its financial
statements.
- 66 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
5. The accounting treatment of business combinations involving enterprises under common control and
business combinations not involving enterprises under common control
Business combinations are classified into business combinations involving enterprises under common control
and business combinations not involving enterprises under common control.
5.1 A business combination involving enterprises under common control
A business combination involving enterprises under common control is a business combination in which all of
the combining enterprises are ultimately controlled by the same party or parties both before and after the
combination, and that control is not transitory.
Assets and liabilities obtained are measured at their respective carrying amounts as recorded by the combining
entities on the date of the combination. The difference between the carrying amount of the net assets obtained
and the carrying amount of the consideration paid for the combination the aggregate face value of shares issued
as consideration is adjusted to the share premium in capital reserve. If the share premium is not sufficient to
absorb the difference, any excess is adjusted against retained earnings.
Costs that are directly attributable to the combination are charged to profit or loss in the period in which they are
incurred.
5.2 A business combination not involving enterprises under common control and goodwill
A business combination not involving enterprises under common control is a business combination in which all
of the combining enterprises are not ultimately controlled by the same party or parties before and after the
combination.
The cost of combination is the aggregate of the fair values, at the acquisition date, of the assets given, liabilities
incurred or assumed, and equity securities issued by the acquirer in exchange for control of the acquire. The
intermediary expenses incurred by the acquirer in respect of auditing, legal services, valuation and consultancy
services, etc. and other associated administrative expenses attributable to the business combination are
recognized in profit and loss when they are incurred.
The acquirers identifiable assets, liabilities and contingent liabilities, acquired by the acquirer in a business
combination, that meet the recognition criteria are measured at fair value at the acquisition date.
Where the cost of combination exceeds the acquirers interest in the fair value of the acquirers identifiable net
assets, the difference is treated as an asset and recognized as goodwill, which is measured at cost on initial
recognition. Where the cost of combination is less than the acquirers interest in the fair value of the acquirees
identifiable net assets, the acquirer firstly reassesses the measurement of the fair values of the acquirees
identifiable assets, liabilities and contingent liabilities and measurement of the cost of combination. If after that
reassessment, the cost of combination is still less than the acquirers interest in the fair value of the acquirees
identifiable net assets, the acquirer recognizes the remaining difference immediately in profit and loss for the
current period.
Goodwill arising from a business combination is presented separately in the consolidated financial statements.
And its represented in accordance with the amount of cost less accumulated impairment losses.
- 67 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
6. PREPARATION OF CONSOLIDATION FINANCIAL STATEMENTS
Preparation of consolidation financial statements
The scope of consolidation in the consolidated financial statements is determined on the basis of control.
Control exists when the investor has power over the investee; is exposed, or has rights, to variable returns from
its involvement with the investee; and has the ability to use its power over the investee to affect its returns. The
Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes
of the above elements of the definition of control.
Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the
Group loses control of the subsidiary.
For a subsidiary disposed of by the Group, the operating results and cash flows before the date of disposal (the
date when control is lost) are included in the consolidated income statement and consolidated statement of cash
flows, as appropriate.
For a subsidiary acquired through a business combination not involving enterprises under common control, the
operating results and cash flows from the acquisition date (the date when control is obtained) are included in the
consolidated income statement and consolidated statement of cash flows, as appropriate.
No matter when the business combination occurs in the reporting period, subsidiaries acquired through a
business combination involving enterprises under common control are included in the Groups scope of
consolidation as if they had been included in the scope of consolidation from the date when they first came
under the common control of the ultimate controlling party. Their operating results and cash flows from the
beginning of the earliest reporting period [or from the date when they first came under the common control of
the ultimate controlling party] are included in the consolidated income statement and consolidated statement of
cash flows, as appropriate.
The significant accounting policies and accounting periods adopted by the subsidiaries are determined based on
the uniform accounting policies and accounting periods set out by the Company.
The effects of all intra-group transactions are eliminated on consolidation.
The portion of subsidiaries equity that is not attributable to the Company is treated as minority interests and
presented as "minority interests" in the consolidated balance sheet within shareholders equity. The portion of
net profits or losses of subsidiaries for the period attributable to minority interests is presented as "minority
interests" in the consolidated income statement below the "net profit" line item.
When the amount of loss for the period attributable to the minority shareholders of a subsidiary exceeds the
minority shareholders portion of the opening balance of owners equity of the subsidiary, the excess amount are
still allocated against minority interests.
Acquisition of minority interests or disposal of interest in a subsidiary that does not result in the loss of control
over the subsidiary is accounted for as equity transactions. The carrying amounts of the Companys interests and
minority interests are adjusted to reflect the changes in their relative interests in the subsidiary. The difference
between the amount by which the minority interests are adjusted and the fair value of the consideration paid or
received is adjusted to capital reserve under owners equity. If the capital reserve is not sufficient to absorb the
difference, the excess are adjusted against retained earnings.
When the Group loses control over a subsidiary due to disposal of certain equity interest or other reasons, any
retained interest is re-measured at its fair value on the date when control is lost. The difference between (i) the
aggregate of the consideration received on disposal and the fair value of any retained interest and (ii) the share
of the former subsidiarys net assets cumulatively calculated from the acquisition date according to the original
proportion of ownership interest is recognized as investment income in the period in which control is lost, and at
the same time adjusted against goodwill. Other comprehensive income associated with investment in the former
subsidiary is reclassified to investment income in the period in which control is lost.
- 68 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
7. Cash and cash equivalents
Cash comprises cash on hand and deposits that can be readily withdrawn on demand. Cash equivalents are
short-term, highly liquid investments that are readily convertible to known amounts of cash and which are
subject to an insignificant risk of change in value.
8. Translation of transactions and financial statements denominated in foreign currencies
8.1 Foreign Currency Transactions
On initial recognition, foreign currency transactions are translated by applying the spot exchange rate on the
date of the transaction.
On the balance sheet date, foreign currency monetary items are translated to RMB by using the spot exchange
rate on that date. Exchange differences arising from the differences between the spot exchange rates prevailing
at the balance sheet date and those on initial recognition or at the previous balance sheet date are recognized in
profit or loss for the period, except that (1) exchange differences related to a specific-purpose borrowing
denominated in foreign currency that qualify for capitalization are capitalized as part of the cost of the
qualifying asset during the capitalization period; (2) exchange differences related to hedging instruments for the
purpose of hedging against foreign currency risks are accounted for using hedge accounting; (3) exchange
differences arising from changes in the carrying amounts (other than the amortized cost) of available-for-sale
monetary items are recognized as other comprehensive income.
When the consolidated financial statements include foreign operation(s), if there is foreign currency monetary
item constituting a net investment in a foreign operation, exchange difference arising from changes in exchange
rates are recognized as "exchange differences arising on translation of financial statements denominated in
foreign currencies " in owners equity, and in profit and loss for the period upon disposal of the foreign
operation.
Foreign currency non-monetary items measured at historical cost are translated to the amounts in functional
currency at the spot exchange rates on the date of the transaction and the amounts in functional currency remain
unchanged. Foreign currency non-monetary items measured at fair value are re-translated at the spot exchange
rate on the date the fair value is determined. Difference between the re-translated functional currency amount
and the original functional currency amount is treated as changes in fair value (including changes of exchange
rate) and is recognized in profit and loss or as other comprehensive income.
8.2 Translation of foreign currency financial statements
For the preparation of the consolidated financial statements, foreign currency financial statements of foreign
businesses are translated into functional currency reports in the following manner: asset and liability items in
the balance sheet are translated by using the spot exchange rates on the balance sheet date; owners equity items
are translated by using the spot exchange rates on the dates when the events occur; all items in the income
statement and items indicating the distribution of profit are translated by using an exchange rates approximates
the actual spot exchange rate on the dates of the transactions. Difference between translated asset and liability
items and total amount of shareholders equity items is recorded as other comprehensive income in shareholders
equity
Foreign currency cash flows and cash flows of foreign subsidiaries are translated at an exchange rates
approximates the actual spot exchange rate on the date of the cash flow. The effect of exchange rate changes on
cash and cash equivalents is regarded as a reconciling item and presented separately in the cash flow statement
as "effect of exchange rate changes on cash and cash equivalents".
The opening balances and the comparative figures of previous year are presented at the translated amounts in
the previous years financial statements.
- 69 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
8. Translation of transactions and financial statements denominated in foreign currencies - continued
8.2 Translation of foreign currency financial statements - continued
On disposal of the Groups entire interest in a foreign operation, or upon a loss of control over a foreign
operation due to disposal of certain interest in it or other reasons, the Group transfers the accumulated exchange
differences arising on translation of financial statements of this foreign operation attributable to the owners
equity of the Company and presented under owners equity, to profit or loss in the period in which the disposal
occurs.
In case of a disposal or other reason that does not result in the Group losing control over a foreign operation, the
proportionate share of accumulated exchange differences arising on translation of financial statements are
re-attributed to minority interests and are not recognized in profit and loss. For partial disposals of equity
interests in foreign operations which are associates or joint ventures, the proportionate share of the accumulated
exchange differences arising on translation of financial statements of foreign operations is reclassified to profit
or loss.
9. Financial instruments
Financial assets and financial liabilities are recognized when the Group becomes a party to the contractual
provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. For
financial assets and financial liabilities at fair value through profit or loss, transaction costs are immediately
recognized in profit or loss. For other financial assets and financial liabilities, transaction costs are included in
their initial recognized amounts.
9.1 The effective interest method
The effective interest method is a method of calculating the amortized cost of a financial asset or a financial
liability (or a group of financial assets or financial liabilities) and of allocating the interest income or interest
expense over the relevant period, using the effective interest rate. The effective interest rate is the rate that
exactly discounts estimated future cash flows through the expected life of the financial asset or financial
liability or, where appropriate, a shorter period to the net carrying amount of the financial asset or financial
liability.
When calculating the effective interest rate, the Group estimates future cash flows considering all contractual
terms of the financial asset or financial liability (without considering future credit losses), and also considers all
fees paid or received between the parties to the contract giving rise to the financial asset and financial liability
that are an integral part of the effective interest rate, transaction costs, and premiums or discounts, etc.
9.2 Classification, recognition and measurement of financial assets
On initial recognition, the Groups financial assets are classified into one of the four categories, including
financial assets at fair value through profit or loss (“FVTPL”), held-to-maturity investments, loans and
receivables, and available-for-sale financial assets (“AFS”). All regular way purchases or sales of financial
assets are recognized and derecognized on a trade date basis.
The financial assets held by the Group mainly consist of loans and receivables and available-for-sales financial
assets.
9.2.1 Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not
quoted in an active market. The accounts receivable, interest receivables, dividends receivable and other
receivable are included in this category.
Loans and receivables are subsequently measured at amortized cost using the effective interest method. Gains or
losses arising from derecognition, impairment or amortization are recognized in profit and loss for the current
period.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.2 Classification, recognition and measurement of financial assets - continued
9.2.2 Available-for-sale financial assets
AFS financial assets are those non-derivative financial assets that are designated as available-for-sale or are not
classified as (1) financial assets at FVTPL, (2) loans and receivables, and (3) held-to-maturity investments.
Available-for-sale financial assets are subsequently measured at fair value, and gains or losses arising from
changes in the fair value are recognized as other comprehensive income, except that impairment losses and
exchange differences related to amortized cost of monetary financial assets denominated in foreign currencies
are recognized in profit or loss, until the financial assets are derecognized, at which time the gains or losses are
released and recognized in profit or loss.
Interest received during the period in which the Group holds the AFS financial assets and cash dividends
declared by the investee are recognized as investment income.
Investment in equity instrument which has no quote in an active market and whose fair value cannot be reliably
measured shall be measured at its cost.
9.3 Impairment of financial assets
The Group assesses, on each balance sheet date, the carrying amounts of financial assets other than those at fair
value through profit or loss. If there is objective evidence that a financial asset is impaired, the Group
determines the amount of any impairment loss. The objective evidence that a financial asset is impaired is
evidence that, arising from one or more events that occurred after the initial recognition of the asset, the
estimated future cash flow of the financial asset, which can be reliably measured, has been affected.
Objective evidence that a financial asset is impaired includes evidence arising from the following events:
(1) Significant financial difficulty of the issuer or obligor;
(2) A breach of contract, such as a default or delinquency in interest or principal payments;
(3) The Group, for economic or legal reasons relating to the borrowers financial difficulty, granting a
concession to the borrower;
(4) It becoming probable that the borrower will enter bankruptcy or other financial reorganization;
(5) The disappearance of an active market for that financial asset because of financial difficulties;
(6) Upon an overall assessment of a group of financial assets, observable data indicates that there is a
measurable decrease in the estimated future cash flows from the group of financial assets since the
initial recognition of those assets, although the decrease cannot yet be identified with the individual
financial assets in the group. Such observable data includes:
- Adverse changes in the payment status of borrower in the group of assets;
- Economic conditions in the country or region of the borrower which may lead to a failure to pay the
group of assets;
(7) Significant adverse changes in the technological, market, economic or legal environment in which the
equity instrument issuer operates, indicating that the cost of the investment in the equity instrument
may not be recovered by the investor;
(8) A significant or prolonged decline in the fair value of an investment in an equity instrument below its
cost;
(9) Other objective evidence indicating there is an impairment of a financial asset.
- 71 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.3 Impairment of financial assets - continued
- Impairment of financial assets carried at amortized cost
If financial assets carried at amortized cost are impaired, the carrying amounts of the financial assets are
reduced to the present value of estimated future cash flows (excluding future credit losses that have not been
incurred) discounted at the financial assets original effective interest rate. The amount of reduction is
recognized as an impairment loss in profit and loss. If, subsequent to the recognition of an impairment loss on
financial assets carried at amortized cost, there is objective evidence of a recovery in value of the financial
assets which can be related objectively to an event occurring after the impairment is recognized, the previously
recognized impairment loss is reversed. However, the reversal is made to the extent that the carrying amount of
the financial asset on the date the impairment is reversed does not exceed what the amortized cost would have
been had the impairment not been recognized.
For a financial asset that is individually significant, the Group assesses the asset individually for impairment.
For a financial asset that is not individually significant, the Group assesses the asset individually for impairment
or includes the asset in a group of financial assets with similar credit risk characteristics and collectively
assesses them for impairment. If the Group determines that no objective evidence of impairment exists for an
individually assessed financial asset (whether significant or not), it includes the asset in a group of financial
assets with similar credit risk characteristics and collectively reassesses them for impairment. Assets for which
an impairment loss is individually recognized are not included in a group of financial assets with similar credit
risk characteristics for collective assessment of impairment.
- Impairment of AFS financial assets
For AFS equity instrument investment, at balance sheet date, if the fair value of one equity instrument
investment is lower than 50%(included 50%) of the cost, or lower than the initial cost of investment over 12
months (included 12 months), it is considered that the fair value has serious or non-temporary decline, which
means impairment accrued.
When an available-for-sale financial asset is impaired, the cumulative loss arising from decline in fair value
previously recognized directly in other comprehensive income is reclassified to profit or loss. The amount of the
cumulative loss that is reclassified from other comprehensive income to profit or loss is the difference between
the acquisition cost (net of any principal repayment and amortization) and the current fair value, less any
impairment loss on that financial asset previously recognized in profit and loss.
If, subsequent to the recognition of an impairment loss on available-for-sale financial assets, there is objective
evidence of a recovery in value of the financial assets which can be related objectively to an event occurring
after the impairment is recognized, the previously recognized impairment loss is reversed. The amount of
reversal of impairment loss on available-for-sale equity instruments is recognized as other comprehensive
income, while the amount of reversal of impairment loss on available-for-sale debt instruments is recognized in
profit and loss.
- Impairment of financial assets carried at cost
If an impairment loss has been incurred on an investment in unquoted equity instrument (without a quoted price
in an active market) whose fair value cannot be reliably measured, or on a derivative financial asset that is
linked to and must be settled by delivery of such an unquoted equity instrument, the carrying amount of the
financial asset is reduced to the present value of estimated future cash flows discounted at the current market
rate of return for a similar financial asset. The amount of reduction is recognized as an impairment loss in profit
and loss. The impairment loss on such financial asset is not reversed once it is recognized.
- 72 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.4 Transfer of financial assets
The Group transfers financial assets in the following two situations:
(1) the contractual rights to obtain cash flow of the financial assets are transferred; or
(2) it transfers financial assets to other entities, whilst it withholds the contractual rights to obtain cash flow
of the financial assets and pay the cash flow that it obtains to the ultimate recipient, and the following
conditions are satisfied simultaneously:
It is obliged for it to pay to the ultimate recipient only when it receives equal cash flow generated from
the financial assets. The following situation meets the condition: the Group has a short-term advance
while it has rights to recover the advance in full and charge interest based on bank loan interest rates in
the market during the same period.
According to the contract, the financial assets are not allowed to be sold or to be as collateral but can be
guarantee of payment of the cash flow to the ultimate recipient.
The Group is obliged to pay the received cash flow to the ultimate recipient in time. It has no rights to
reinvest the cash flow, except that according to the contract, it invests the received cash flow in cash
and cash equivalents investment in-between two adjacent payments. The Group shall pay the
investment income to the ultimate recipient if the Group conducts reinvestment according to the
contract.
The Group derecognizes a financial asset or part of a financial asset when:
(1) The contractual rights to the cash flows from the financial asset expire; or
(2) It transfers the financial asset, meanwhile one or both of the following conditions is or are satisfied:
It transfers almost all the risks and rewards of ownership of the asset to another entity;
It neither transfers nor retains substantially all the risks or the rewards of ownership but has not retained
control over the financial assets.
If the Group neither transfers nor retains substantially all the risks or the rewards of ownership of the financial
asset, and retains its control of the financial asset, it recognizes the financial asset to the extent of its continuing
involvement in the transferred financial asset and recognized an associated liability.
For a transfer of a financial asset in its entirety that satisfies the derecognition criteria, the difference between (1)
the carrying amount of the financial asset transferred; and (2) the sum of the consideration received from the
transfer and any cumulative gain or loss that has been recognized in other comprehensive income, is recognized
in profit and loss.
9.5 Classification, recognition and measurement of financial liabilities
Financial instruments issued by the Group are classified in accordance with the economic substance of the
contractual arrangements and the legal form as well as the definitions of a financial liability and an equity
instrument; on initial recognition, financial instruments or their component parts are classified as either financial
liabilities or equity instruments.
On initial recognition, financial liabilities are classified as either financial liabilities at FVTPL or other financial
liabilities.
9.5.1 Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss consist of financial liabilities held for trading and
financial liabilities defined to be financial liabilities at fair value through profit or loss.
- 73 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.5 Classification, recognition and measurement of financial liabilities - continued
9.5.1 Financial liabilities at fair value through profit or loss - continued
Financial liabilities which satisfy at least one of the following conditions shall be classified as financial
liabilities held for trading: 1) the purpose of undertaking this financial liability is principally to repurchase it in a
short term; 2) the financial liability is a part of a portfolio of recognizable financial instruments under
centralized management, and objective evidence indicates that the Group manages the portfolio through
short-term profit mode in the recent period; 3) it is a derivative instrument, except the one that is designated as
an effective hedging instrument, or as a financial guarantee contract derivative instrument, or the one linked to
and which must be settled by delivery of an unquoted equity instrument (without a quoted price in an active
market) whose fair value cannot be measured reliably.
Financial liabilities which satisfy at least one of the following conditions can be classified as financial liabilities
at fair value through profit or loss at initial recognition: 1) the classification can eliminate or apparently reduce
the inconsistency of relevant gain and loss in the respect of recognition and measurement resulting from the
difference of measurement bases of the financial liability; 2) a written official document of the Groups risk
management or investment strategy clearly indicates that the portfolio of financial liabilities or the portfolio of
financial assets and financial liabilities which contains the financial liability is managed, evaluated on the basis
of fair value and reported to key management personnel. 3) eligible hybrid instruments encompassing embedded
derivative instruments.
Financial liabilities at fair value through profit or loss is subsequently measured at fair value. Gain and loss
caused by variation of fair value and dividends and interest expenses related to these financial liabilities are
recorded in the profit and loss for the current period.
9.5.2 Other financial liabilities
For a derivative liability that is linked to and must be settled by delivery of an unquoted equity instrument
(without a quoted price in an active market) whose fair value cannot be reliably measured, it is subsequently
measured at cost. Other financial liabilities other than financial guarantee contract obligations are subsequently
measured at amortized cost using the effective interest method, with gain or loss arising from derecognition or
amortization recognized in profit and loss.
9.5.3 Financial Guarantee Contract
In a financial guarantee contract, a guarantor and a creditor agree that the former performs the obligation or
liability in accordance with the agreement when debtor defaults. A financial guarantee contract that is not
specified as financial liabilities at fair value through profit or loss is initially recognized at fair value minus
direct transaction fees, and the subsequent measurement is based on the higher of the amount recognized in
accordance with Accounting Standards for Business Enterprises No.13 – Contingencies and the initially
recognized amount deducting the cumulative amortization in accordance with Accounting Standards for
Business Enterprises No.14 – Income.
9.6 Derecognition of financial liabilities
The Group derecognizes a financial liability fully or partially only when the underlying present obligation (or
part of it) is discharged. An agreement between the Group (an existing borrower) and an existing lender to
replace the original financial liability with a new financial liability with substantially different terms is
accounted for as an extinguishment of the original financial liability and the recognition of a new financial
liability.
When the Group derecognizes a financial liability fully or partially, it recognizes the difference between the
carrying amount of the financial liability (or part of the financial liability) derecognized and the consideration
paid (including any non-cash assets transferred or new financial liabilities assumed) in profit and loss for the
current period.
- 74 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
9. Financial instruments - continued
9.7 Financial Derivatives
Financial derivatives encompass interest rate collars, interest rate swaps, etc. Derivatives are initially measured
at fair value on the date when the derivative contracts are entered into and are subsequently re-measured at fair
value. The resulting gain or loss is recognized in profit and loss unless the derivative is designated and highly
effective as a hedging instrument, in which case the timing of the recognition in profit and loss depends on the
nature of the hedging relationship.
9.8 Offsetting financial assets and financial liabilities
When the Group has a legal right that is currently enforceable to offset the recognized financial assets and
financial liabilities, and intends either to settle on a net basis, or to realize the financial asset and settle the
financial liability simultaneously, financial assets and financial liabilities are offset with the net amounts
presented on the balance sheet. Otherwise, financial assets and financial liabilities are separately presented on
the balance sheet without offsetting.
9.9 Equity instruments
An equity instrument is a contract that reflects residual benefits in the assets of the Group after deducting all of
its liabilities. Equity instruments issued (including refinanced), repurchased, sold or cancelled by the Group are
treated as changes in equity. Changes in the fair value of equity instruments are not recognized. Transaction
costs related to equity transactions are deducted from equity.
The Groups distribution to holders of equity instruments are treated as a distribution of profits, payment of
stock dividends does not affect total shareholders equity.
10. Receivables
10.1 Receivables that are individually significant and for which bad debt provision is individually assessed
The Group recognizes accounts receivable of over RMB
Basis or monetary criteria for determining
5,000,000(included RMB5, 000,000) as individually significant
an individually significant receivable
receivables.
For receivables that are individually significant, the Group
assesses the receivables individually for impairment. For a
Method of determining provision for financial asset that is not impaired individually, the Group
receivables that are individually includes the asset in a group of financial assets with similar credit
significant and for which bad debt risk characteristics and collectively assesses them for impairment.
provision is individually assessed Receivables for which an impairment loss is individually
recognized are not included in a collective assessment of
impairment.
10.2 Receivables for which bad debts is assessed in a group of financial assets with similar credit risk
characteristic
Method of determining provisions of bad debts in a group of financial assets with similar credit risk
characteristic
Receivables arising from limited service hotels management Aging analysis
and operation business in Mainland China
Receivables arising from limited service hotels management Aging analysis
and operation business other than Mainland China
- 75 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
10. Receivables - continued
10.2 Receivables for which bad debts is assessed in a group of financial assets with similar credit risk
characteristic - continued
Aging analysis for receivables for which bad debt provision is collectively assessed on a portfolio basis:
Accounts receivables arising from limited service hotels management and operation business in Mainland
China:
Aging Ratio of bad debt provision (%)
Within 3 months -
3-6 months 0.50
6 months-1year 25.00
After 1 year 100.00
Accounts receivables arising from limited service hotels management and operation business other than
Mainland China:
Aging Ratio of bad debt provision (%)
0-120 days -
121-150 days 20.00
151-180 days 30.00
181days-1year 50.00
1-2 years 70.00
After 2 years 90.00
The Group believes, receivables other than the above shall be exposed to limited impairment risk and not take
further impairment test if no impairment occurs after individual impairment test.
10.3 Accounts receivable that are not individually significant but for which bad debt provision is individually
assessed:
The Group carries out individual impairment test on
account receivables to which objective evidences show
Reasons for making individual bad debt provision
that special impairment occurs and on all other
receivables.
Bad debt provision methods for accounts Tested individually; If present value of estimated future
receivable that are not individually significant but cash flows is less than its carrying amount, a provision
for which bad debt provision is individually for impairment losses in respect of the deficit is
assessed recognized in profit and loss for the period.
11. Inventories
11.1 Classification of inventories
The Groups inventories include raw materials, finished goods, and merchandise. The inventories are initially
measured at cost. Cost of inventories comprises all costs of purchase, costs of conversion and other
expenditures incurred in bringing the inventories to their present location and condition.
11.2 Valuation method of inventories upon delivery
Cost of sales is determined using the first-in-first-out ("FIFO") method or weighted average method.
- 76 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
11. Inventories - continued
11.3 Basis for determining net realizable value of inventories
At the balance sheet date, inventories are measured at the lower of cost and net realizable value. If the cost of
inventories is higher than the net realizable value, a provision for decline in value of inventories is recognized.
Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of
completion and the estimated costs necessary to make the sale and relevant taxes. The Group determines the net
realizable value of inventories based on solid evidence obtained and after taking into consideration the purpose
for which the inventory is held, and the effect of events occurring after the balance sheet date.
For inventories, the excess of cost over the net realizable value is generally recognized as provision for decline
in value of inventories on an item-by-item basis.
After provision for decline in value of inventories has been made, if the circumstances that previously caused
inventories to be written down no longer exist which results in the net realizable value is higher than the
carrying amount, the amount of the write-down is reversed in profit and loss for the current period; the reversal
is limited to the amount originally provided for the decline in value of inventories.
11.4 The stock count system for inventories
The perpetual inventory system is adopted for stock count.
11.5 Amortization methods of low-value consumables and packaging materials
Packaging materials and consumables are amortized on one-off basis. Abundant consumables used by
newly-opened hotels shall be amortized within 12 months.
12. Long-term equity investments
12.1 Basis for determining joint control and significant influence over investee
Control exists when the investor has power over the investee; is exposed, or has rights, to variable returns from
its involvement with the investee; and has the ability to use its power over the investee to affect its returns. Joint
control is the contractually agreed sharing of control over an economic activity, and exists only when the
strategic financial and operating policy decisions relating to the activity require the unanimous consent of the
parties sharing control. Significant influence is the power to participate in the financial and operating policy
decisions of the investee but is not control or joint control over those policies. When determining whether an
investing enterprise is able to exercise control or significant influence over an investee, the effect of potential
voting rights of the investee (for example, warrants and convertible debts) held by the investing enterprises or
other parties that are currently exercisable or convertible shall be considered.
- 77 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
12. Long-term equity investments - continued
12.2 Determination of initial investment cost
For a long-term equity investment acquired through a business combination involving enterprises under
common control, the initial investment cost of the long-term equity investment is the attributable share of the
carrying amount of the shareholders equity of the acquiree on the date of combination in the consolidated
financial statements of the ultimate controlling party. The difference between the initial investment cost and the
carrying amount of cash paid, non-cash assets transferred and liabilities assumed adjusted to capital reserve. If
the balance of capital reserve is not sufficient, any excess is adjusted to retained earnings. If the consideration of
the combination is satisfied by the issue of equity securities, the initial investment cost of the long-term equity
investment is the attributable share of the carrying amount of the shareholders equity of the acquiree in the
consolidated financial statements of the ultimate controlling party. The aggregate face value of the shares issued
is accounted for as share capital. The difference between the initial investment cost and the aggregate face value
of the shares issued is adjusted to capital reserve. If the balance of capital reserve is not sufficient, any excess is
adjusted to retained earnings.
For a long-term equity investment acquired through business combination not involving enterprises under
common control, the initial investment cost of the long-term equity investment is the cost of acquisition on the
date of combination.
The intermediary fees incurred by the absorbing party or acquirer such as audit legal, valuation and consulting
fee, etc. and other related administrative expenses attributable to the business combination are recognized in
profit and loss when they are incurred.
The long-term equity investment acquired otherwise than through a business combination is initially measured
at its cost. When the entity is able to exercise significant influence or joint control (but not control) over an
investee due to additional investment, the cost of long-term equity investments is the sum of the fair value of
previously-held equity investments determined in accordance with Accounting Standard for Business
Enterprises No.22–Financial Instruments; Recognition and Measurement (ASBE No. 22) and the additional
investment cost.
12.3 Subsequent measurement and recognition of profit and loss
12.3.1. A long-term equity investment accounted for using the cost method
Long-term equity investments in subsidiaries are accounted for using the cost method in the Companys
separate financial statements. A subsidiary is an investee that is controlled by the Group.
Under the cost method, a long-term equity investment is measured at initial investment cost. When additional
investment is made or the investment is recouped, the cost of the long-term equity investment is adjusted
accordingly. Investment income is recognized in the period in accordance with the attributable share of cash
dividends or profit distributions declared by the investee.
12.3.2 A long-term equity investment accounted for using the equity method
The Group accounts for investment in associates and joint ventures using the equity method. An associate is an
entity over which the Group has significant influence; a joint venture is a joint arrangement whereby the Group
has rights to the net assets of the arrangement.
Under the equity method, where the initial investment cost of a long-term equity investment exceeds the
Groups share of the fair value of the investees identifiable net assets at the time of acquisition, no adjustment
is made to the initial investment cost. Where the initial investment cost is less than the Groups share of the fair
value of the investees identifiable net assets at the time of acquisition, the difference is recognized in profit and
loss for the period, and the cost of the long-term equity investment is adjusted accordingly.
- 78 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
12. Long-term equity investments - continued
12.3 Subsequent measurement and recognition of profit and loss - continued
12.3.2 A long-term equity investment accounted for using the equity method - continued
Under the equity method, the Group recognizes its share of the net profit or loss and other comprehensive
income made by the investee as investment income and other comprehensive income respectively, and adjust
the carrying amount of the long-term equity investment accordingly; The carrying amount of the investment is
reduced by the portion of any profit distributions or cash dividends declared by the investee that is distributed to
the Group; the share of changes in owners equity of the investee other than those arising from net profit or loss,
other comprehensive income and profit distribution are recognized in the capital reserve the carrying amount of
the long-term equity investment is adjusted accordingly. The Group recognizes its share of the investees net
profit or loss after making appropriate adjustments based on the fair value of the investees individual separately
identifiable assets, etc. at the acquisition date. Where the accounting policies and accounting period adopted by
the investee are not consistent with those of the Group, the Group shall adjust the financial statements of the
investee to conform to its own accounting policies and accounting period, and recognize investment income and
other comprehensive income based on the adjusted financial statements. For the Groups transactions with its
associates and joint ventures where assets contributed or sold does not constitute a business, unrealized
intra-group profits or losses are recognized as investment income or loss to the extent that those attributable to
the Groups proportionate share of interest are eliminated. However, unrealized losses resulting from the
Groups transactions with its associates and joint ventures which represent impairment losses on the transferred
assets are not eliminated.
The Group discontinues recognizing its share of net losses of the investee after the carrying amount of the
long-term equity investment together with any long-term interests that in substance form part of its net
investment in the investee is reduced to zero. If the Group has incurred obligations to assume additional losses
of the investee, a provision is recognized according to the expected obligation, and recorded as investment loss
for the period. Where net profits are subsequently made by the investee, the Group resumes recognizing its
share of those profits only after its share of the profits exceeds the share of losses previously not recognized.
12.4 Disposal of long-term equity investments
On disposal of a long-term equity investment, the difference between the proceeds actually received and
receivable and the carrying amount is recognized in profit and loss for the period.
13. Fixed assets
13.1 Recognition criteria for fixed assets
Fixed assets are tangible assets that are held for use in the production or supply of goods or services, for rental
to others, or for administrative purposes, and have useful lives of more than one accounting year. A fixed asset
is recognized only when it is probable that economic benefits associated with the asset will flow to the Group
and the cost of the asset can be measured reliably. Fixed assets are initially measured at cost.
Subsequent expenditures incurred for the fixed asset are included in the cost of the fixed asset if it is probable
that economic benefits associated with the asset will flow to the Group and the subsequent expenditures can be
measured reliably. Meanwhile the carrying amount of the replaced part is derecognized. Other subsequent
expenditures except for above expenditures that included in the cost of fixed asset are recognized in profit and
loss in the period in which they are incurred.
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SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
13. Fixed assets - continued
13.2 Depreciation methods
Except for lands with indefinite useful lives, depreciation is provided to write off the cost of each category of
fixed assets after deducting their estimated residual values over their estimated useful lives from the month after
they are brought to working condition for the intended use, using the straight-line method .For the fixed assets
being provided for impairment loss, the related depreciation charge is prospectively determined based upon the
adjusted carrying amounts over their remaining useful lives.
The useful lives, estimated net residual values rates and annual depreciation rates of each class of fixed assets
are as follows:
Residual Annual
Depreciation
Category Depreciation method value rate depreciation
period (years)
(%) rate (%)
Buildings Straight line method 20-60 0-10 1.58-4.50
Machinery and equipment Straight line method 3-20 0-10 4.50-30.00
Transportation vehicles Straight line method 4-10 5-10 9.00-23.75
Fixed assets improvements Straight line method 3-10 0 10.00-33.33
Estimated net residual value of a fixed asset is the estimated amount that the Group would currently obtain from
disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in
the condition expected at the end of its useful life.
13.3 Recognition, measurement and depreciation method of fixed assets leased under finance leases
At the commencement of the lease term, the Group records the leased asset at an amount equal to the lower of
the fair value of the leased asset and the present value of the minimum lease payments at the inception of the
lease, and recognizes a long-term payable at an amount equal to the minimum lease payments. The difference
between the recorded amounts is accounted for as unrecognized finance charge. Besides, initial direct costs that
are attributable to the leased item incurred during the process of negotiating and securing the lease agreement
are also added to the amount recognized for the leased asset.
The Group adopts a depreciation policy for a fixed asset held under a finance lease which is consistent with that
for its owned fixed asset. If there is reasonable certainty that the Group will obtain ownership of the leased asset
at the end of the lease term, the leased asset is depreciated over its useful life. If there is o reasonable certainty
that the Group will obtain ownership of the leased asset at the end of the lease term, the leased asset is
depreciated at the shorter time of the lease term and the useful life.
13.4 Others
A fixed asset is derecognized on disposal or when no future economic benefits are expected from its use or
disposal. When a fixed asset is sold, transferred, retired or damaged, the Group recognizes the amount of any
proceeds on disposal of the asset net of the carrying amount and related taxes in profit and loss for the current
period.
The Group reviews the useful life and estimated net residual value of a fixed asset and the depreciation method
applied at least at each financial year-end. A change in the useful life or estimated net residual value of a fixed
asset or the depreciation method used is accounted for as a change in an accounting estimate.
- 80 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
14. Construction in progress
Construction in progress is measured at its actual costs. The actual costs include various construction
expenditures during the construction period, borrowing costs capitalized before it is ready for intended use and
other relevant costs. Construction in progress is not depreciated. Construction in progress is transferred to a
fixed asset when it is ready for intended use.
15. Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying asset are
capitalized when expenditures for such asset and borrowing costs are incurred and activities relating to the
acquisition, construction or production of the asset that are necessary to prepare the asset for its intended use or
sale have commenced. Capitalization of borrowing costs ceases when the qualifying asset being acquired,
constructed or produced becomes ready for its intended use or sale. Capitalization of borrowing costs is
suspended during periods in which the acquisition, construction or production of a qualifying asset is suspended
abnormally and when the suspension is for a continuous period of more than 3 months. Capitalization is
suspended until the acquisition, construction or production of the asset is resumed. Other borrowing costs are
recognized as an expense in the period in which they are incurred.
Where funds are borrowed under a specific-purpose borrowing, the amount of interest to be capitalized is the
actual interest expense incurred on that borrowing for the period less any bank interest earned from depositing
the borrowed funds before being used on the asset or any investment income on the temporary investment of
those funds. Where funds are borrowed under general-purpose borrowings, the Group determines the amount of
interest to be capitalized on such borrowings by applying a capitalization rate to the weighted average of the
excess of cumulative expenditures on the asset over the amounts of specific-purpose borrowings. The
capitalization rate is the weighted average of the interest rates applicable to the general-purpose borrowings.
16. Intangible assets
Intangible assets include land use rights, patent and relevant rights, beneficial rights of long-term lease,
trademark and brand, membership, software and so on
An intangible asset is initially measured at cost. An intangible asset with a finite useful life is amortized using
the straight-line method over its useful life when the asset is available for use. An intangible asset with an
indefinite useful life is not amortized. Each intangible asset amortization method, useful life (year) and residual
value are as follow:
Residual value
Category Amortization method Useful life(years)
rate (%)
Evenly amortized using straight
Land use right 40 0
line method by stage
Evenly amortized using straight The remaining lease
Beneficial rights of long-term lease 0
line method by stage contract term
Trademark and brand N/A Uncertain 0
Evenly amortized using straight
Membership 20 0
line method by stage
Evenly amortized using straight
Patent, relevant rights and software 2-15 0
line method by stage
For an intangible asset with a finite useful life, the Group reviews the useful life and amortization method at
least at end of the period and makes changes if necessary.
- 81 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
17. Impairment of intangible assets
The Group reviews the long-term equity investments, fixed assets, construction in progress, intangible assets
with finite useful life, leasehold improvement and decoration expenses, at each balance sheet date to determine
whether there is any indication that they have suffered an impairment loss. If an impairment indication exists,
the recoverable amount is estimated. Intangible assets with indefinite useful life and intangible assets not yet
available for use are tested for impairment annually, irrespective of whether there is any indication that the
assets may be impaired.
Recoverable amount is estimated on individual basis. If it is not practical to estimate the recoverable amount of
an individual asset, the recoverable amount of the asset group to which the asset belongs will be estimated. The
recoverable amount of an asset or asset group is the higher of its fair value less costs of disposal and the present
value of the future cash flows expected to be derived from the asset or asset group.
If such recoverable amount is less than its carrying amount, a provision for impairment losses in respect of the
deficit is recognized in profit and loss for the period.
Goodwill is tested for impairment at least once at the end of each year. For the purpose of impairment testing,
goodwill is considered together with the related assets group(s) or combination(s) of assets groups, i.e.,
goodwill is reasonably allocated to the related assets group(s) or each of assets group(s) expected to benefit
from the synergies of the combination. An impairment loss is recognized if the recoverable amount of the assets
group or sets of assets groups (including goodwill) is less than its carrying amount. The impairment loss is
firstly allocated to reduce the carrying amount of any goodwill allocated to such assets group or sets of assets
groups, and then to the other assets of the group pro-rata on the basis of the carrying amount of each asset (other
than goodwill) in the group.
Once any loss of asset impairment is recognized, it is not reversed in a subsequent period.
18. Long-term prepaid expenses
Long-term prepaid expenses are various expenditures incurred but that should be allocated over the current and
future periods of more than one year. Long-term prepaid expenses are evenly amortized over the respective
beneficial period.
19. Employee benefits
19.1 Accounting treatment of short-term compensation
Actually occurred short-term employee benefits are recognized as liabilities, with a corresponding charge to the
profit or loss for the period or in the costs of relevant assets in the accounting period in which employees
provide services to the Group. Staff welfare expenses incurred by the Group are recognized in profit and loss
for the period or the costs of relevant assets based on the actually occurred amounts when it actually occurred.
Non-monetary staff welfare expenses are measured at fair value.
Payment made by the Group of social security contributions for employees such as premiums or contributions
on medical insurance, work injury insurance and maternity insurance, etc. and payments of housing funds, as
well as union running costs and employee education costs provided in accordance with relevant requirements,
are calculated according to prescribed bases and percentages in determining the amount of employee benefits
and recognized as relevant liabilities, with a corresponding charge to the profit or loss for the period or the costs
of relevant assets in the accounting period in which employees provide services.
19.2 Accounting treatment of post-employment benefits
Post-employment benefits comprise defined contribution plan and defined benefit plan.
During the accounting period in which the employees rendered services to the Group, the contribution payable
calculated based on defined contribution plan is recognized as liabilities, and recorded in profit or loss or costs
of relevant assets.
- 82 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
19. Employee compensation - continued
19.2 Accounting treatment of post-employment benefits - continued
Welfare liabilities are attributed to the accounting period in which the employees rendered services to the Group
by using projected unit credit method based on the defined benefit plan and are recognized in profit and loss for
the current period or in relevant assets cost. Cost of employee benefits generated from the defined benefit plan
consist of the following:
Service cost (current service cost, past service cost and gain and loss from settlement)
Net interest of net liabilities or net assets based on defined benefit plan (plan-assets interest income,
interest expenses of defined benefit plan and interest influenced by assets upper limit), and
Variation arising from recalculating net liabilities and net assets based on defined benefit plan.
Cost service and net interest of net liabilities or net assets based on defined benefit plan are recognized in profit
and loss for the current period or in relevant assets cost. Variation arising from recalculating net liabilities and
net assets based on defined benefit plan (actuarial gain and loss, plan-asset rewards deducting the amount
recorded in the net interest of net liabilities or net assets based on defined benefit plan, variation influenced by
assets upper limit deducting the amount recorded in the net interest of net liabilities or net assets based on
defined benefit plan) is recognized in other comprehensive income.
19.3 Accounting treatment of termination benefits
When the Group provides termination benefits to employees, employee benefit liabilities are recognized for
termination benefits, with a corresponding charge to the profit or loss for the period at the earlier of: (1) when
the Group cannot unilaterally withdraw the offer of termination benefits because of the termination plan or a
curtailment proposal; and (2) when the Group recognizes costs or expenses related to restructuring that involves
the payment of termination benefits.
19.4 Accounting treatment of other long-term employee benefits
Net liabilities or net assets of other long-term employee benefits are recognized and measured in compliance
with regulations related to defined benefit plan. At the end of the accounting period, other long-term employee
benefits are recognized as three components: service cost, net interest of net liabilities or net assets based on
other long-term employee benefits and variation arising from recalculating net liabilities and net assets based on
other long-term employee benefits. Total net amount of these items are recognized in profit and loss for the
current period or in other relevant assets cost.
20. Provisions
Provisions are recognized when the Group has a present obligation related to a contingency, it is probable that
an outflow of economic benefits will be required to settle the obligation, and the amount of the obligation can
be measured reliably.
The amount recognized as a provision is the best estimate of the consideration required to settle the present
obligation at the balance sheet date, taking into account factors pertaining to a contingency such as the risks,
uncertainties and time value of money. Where the effect of the time value of money is material, the amount of
the provision is determined by discounting the related future cash outflows.
- 83 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
21. Revenue
21.1 Revenue from the sale of goods
Revenue is recognized when the Group has delivered products to the location specified in the sales contracts
and the distributor has confirmed the acceptance of the products. The Company remains no effective control
over the goods after the consignment and the economic benefits associated with the transaction will flow to the
Group, the relevant revenue can be reliably measured and specific revenue recognition criteria have been met.
21.2 Revenue arising from the rendering of services
Revenue for the Groups provision of hotel accommodation services to external parties is recognized when the
services are rendered and the right of collect service charge is obtained.
Amounts received or receivable from business rendering service with awards points granted to customers
should be allocated between revenue from the service and fair value of awards points. Cash received or amounts
receivable less the fair value of awards points is recognized as revenue, the fair value of awards points is
recognized as deferred income.
When customers exchange awards points, the Group recognized amounts previously recorded as deferred
income as revenue calculated upon the basis of percentage of amounts exchanged to amounts expected to be
exchanged.
21.3 Income from initial fee
Income from initial fee is recognized on an accrual basis in accordance with relevant contracts or agreements.
21.4 Income from central booking system
Income from central booking system is recognized on an accrual basis in accordance with relevant contracts or
agreements.
21.5 Membership income
Membership income is recognized on an accrual basis.
21.6 Interest income
The amount of interest income is determined according to the length of time for which the Groups monetary
funds are used by others and the effective interest rate.
22. Government grant
Government grants are transfer of monetary assets and non-monetary assets from the government to the Group
at no consideration. Government grants, according to the nature of the grants which are specified in the relevant
government documents, are classified as asset-related government grants or earnings-related government grants.
A government grant is recognized only when the Group can comply with the conditions attaching to the grant
and the Group will receive the grant. If a government grant is in the form of a transfer of a monetary asset, it is
measured at the amount received or receivable.
- 84 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
22. Government grant - continued
22.1 Accounting treatment and determining basis of government grant related to assets
Government grants of the Group included supporting funds for information platform, Xincheng hotel project
funds and Smartel project and subsidies to new established hotels of Jin Jiang Inn. Because the subsidy
payments used for investing, researching and developing of related assets, these payments are government grant
of related assets.
A government grant related to an asset is recognized as deferred income, and evenly amortized to profit or loss
over the useful life of the related asset.
22.2 Accounting treatment and determining basis of government grant related to income
Government grants of the Group included the supporting funds for the Company and Jin Jiang Inn, subsidies for
relocation of hotels of Jin Jiang Inn, and financial subsidies for the promotion of Jingjiang Metropolo brand.
These are government grant related to gain (loss).
For a government grant related to income, if the grant is a compensation for related expenses or losses to be
incurred in subsequent periods, the grant is recognized as deferred income, and recognized in profit and loss
over the periods in which the related costs are recognized; if the grant is a compensation for related expenses or
losses already incurred, the grant is recognized immediately in profit and loss for the current period.
23. Deferred tax assets/ deferred tax liabilities
Income tax expense comprises current tax expense and deferred tax expense.
23.1. Current income taxes
At the balance sheet date, current income tax liabilities (or assets) for the current and prior periods are measured
at the amount expected to be paid (or recovered) according to the requirements of tax laws.
23.2. Deferred tax assets and deferred tax liabilities
For temporary differences between the carrying amounts of certain assets or liabilities and their tax base, or
between the nil carrying amount of those items that are not recognized as assets or liabilities and their tax base
that can be determined according to tax laws, deferred tax assets and liabilities are recognized using the balance
sheet liability method.
Deferred tax is generally recognized for all temporary differences. Deferred tax assets for deductible temporary
differences are recognized to the extent that it is probable that taxable profits will be available against which the
deductible temporary differences can be utilized. However, for temporary differences associated with the initial
recognition of goodwill and the initial recognition of an asset or liability arising from a transaction (not a
business combination) that affects neither the accounting profit nor taxable profits (or deductible losses) at the
time of transaction, no deferred tax asset or liability is recognized.
For deductible losses and tax credits that can be carried forward, deferred tax assets are recognized to the extent
that it is probable that future taxable profits will be available against which the deductible losses and tax credits
can be utilized.
- 85 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
23. Deferred tax assets/ deferred tax liabilities - continued
23.2. Deferred tax assets and deferred tax liabilities - continued
Deferred tax liabilities are recognized for taxable temporary differences associated with investments in
subsidiaries and associates, and interests in joint ventures, except where the Group is able to control the timing
of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the
foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such
investments and interests are only recognized to the extent that it is probable that there will be taxable profits
against which to utilize the benefits of the temporary differences and they are expected to reverse in the
foreseeable future.
At the balance sheet date, deferred tax assets and liabilities are measured at the tax rates, according to tax laws,
that are expected to apply in the period in which the asset is realized or the liability is settled.
Current and deferred tax expenses or income are recognized in profit and loss for the period, except when they
arise from transactions or events that are directly recognized in other comprehensive income or in shareholders
equity, in which case they are recognized in other comprehensive income or in shareholders equity; and when
they arise from business combinations, in which case they adjust the carrying amount of goodwill.
At the balance sheet date, the carrying amount of deferred tax assets is reviewed and reduced if it is no longer
probable that sufficient taxable profits will be available in the future to allow the benefit of deferred tax assets to
be utilized. Such reduction in amount is reversed when it becomes probable that sufficient taxable profits will be
available.
23.3 Offsetting of income taxes
When the Group has a legal right to settle on a net basis and intends either to settle on a net basis or to realize
the assets and settle the liabilities simultaneously, current tax assets and current tax liabilities are offset and
presented on a net basis.
When the Group has a legal right to settle current tax assets and liabilities on a net basis, and deferred tax assets
and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same
taxable entity or different taxable entities which intend either to settle current tax assets and liabilities on a net
basis or to realize the assets and liabilities simultaneously, in each future period in which significant amounts of
deferred tax assets or liabilities are expected to be reversed, deferred tax assets and deferred tax liabilities are
offset and presented on a net basis.
24. Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and
rewards of ownership to the lessee. All other leases are classified as operating leases.
24.1 Accounting treatment of operating leases
24.1.1 The Group as lessee under operating leases
Operating lease payments are recognized on a straight-line basis over the terms of the relevant lease, and are
either included in the cost of related asset or charged to profit or loss for the period. Initial direct costs incurred
are charged to profit or loss for the period. Contingent rents are charged to profit or loss in the period in which
they are actually incurred.
- 86 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
24. Leases - continued
24.1.2 The Group as lessor under operating leases
Rental income from operating leases is recognized in profit and loss on a straight-line basis over the terms of the
relevant lease. Initial direct costs with more than an insignificant amount are capitalized when incurred, and are
recognized in profit and loss on the same basis as rental income over the lease term. Other initial direct costs
with an insignificant amount are charged to profit or loss in the period in which they are incurred. Contingent
rents are charged to profit or loss in the period in which they actually arise.
24.2 Accounting treatment of finance leases
24.2.1 The Group as lessee under finance leases
Related accounting treatment refer to Note (III) "13.3 Recognition, measurement and depreciation method of
fixed assets leased under finance leases ". Unrecognized finance charges are recognized as finance charge for
the period using the effective interest method over the lease term. Contingent rents are credited to profit or loss
in the period in which they are actually incurred. The net amount of minimum lease payments less unrecognized
finance charges is separated into long-term liabilities and the portion of long-term liabilities due within one year
for presentation.
25. Hedging Accounting
In order to avoid risks, the Group uses certain financial instruments as hedging tools. The hedging tools that
satisfy predetermined conditions are treated by applying hedging accounting method. The Groups hedging tools
are principally cash flow hedging.
The relation between the hedging tool and the concerned hedging project, as well as the risk management
objectives and strategies of different hedging transactions, is recorded at the beginning of the hedging. In
addition, the effectiveness of the hedging is continuously evaluated afterwards in order to verify whether the
relevant hedging is highly effective during the accounting period during which the hedging relation is
designated.
Regarding derivatives that are designated as cash flow hedging and that meet the conditions, effective hedging
portion of change in fair value is recognized in other comprehensive income, whilst non-effective hedging
portion of change in fair value is recognized in profit and loss for the current period.
If the hedging on expected transaction leads to recognition of a financial asset or a financial liability, the amount
that has been recognized in other comprehensive income will be transferred out during the same period during
which the particular asset or liability influence profit and loss and be recognized in profit and loss for the period.
If the management deems that the net loss recognized in other comprehensive income cannot be fully or
partially offset in the coming accounting period(s), the amount that cannot be offset shall be transferred out and
be recognized in profit and loss for the period.
If the hedging on expected transaction leads to recognition of a non-financial asset or a non-financial liability,
the gain and loss recognized in other comprehensive income shall be transferred out and be recognized in the
initial cost of this non-financial asset or non-financial liability. If the net loss recognized in other comprehensive
income cannot be fully or partially offset in the coming accounting period(s), the amount that cannot be offset
shall be transferred out and be recognized in profit and loss for the period.
Except as described above, amount that has been recognized in other comprehensive income is transferred out
during the same period during which hedging-related expected transaction influences profit and loss, and is
recognized in profit and loss for the period.
- 87 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES – continued
25. Hedging Accounting - continued
Hedging accounting is terminated when the Group cancels the designation of hedging relations, hedging tools
expire or are sold out, and contracts terminate or are executed or no longer meet the conditions of hedging
accounting. Upon the termination of hedging accounting, the cumulative gain and loss that have been
recognized in other comprehensive income will be transferred out from other comprehensive income and be
recognized in profit and loss when expected transaction occurs and is recognized in profit and loss. In contrast,
the cumulative gain and loss that have been recognized in other comprehensive income will be transferred out
immediately and be recognized in profit and loss for the period if the expected transaction does not occur.
26. Changes in significant accounting policies and accounting estimates
26.1 Changes in accounting policies
The Group has adopted in the financial statements the revised the Accounting Standard for Business Enterprises
No.16 Government Grants newly issued by the Ministry of Finance in 2017
Before the implementation of the Accounting Standard for Business Enterprises No.16 Government Grants
(revision), the Group charged government grants to current profit or loss and represented them as non-operating
income.
After the implementation of the Accounting Standard for Business Enterprises No.16 Government Grants
(revision), for the government grants, the Group conducts different accounting treatments depending on whether
they are related to the enterprise daily activities. If the government grants is connected with the enterprise daily
activities, they are charged to other income or reduced relevant costs based on the nature of economic
businesses. If not, they are charged to non-operating income. The Group has accounted for the above change in
accounting policy prospectively in accordance with relevant regulations.
27. Significant accounting estimates and judgements
The Group continuously evaluates the critical accounting estimates and key judgments applied based on
historical experience and other factors, including expectations of future events that are believed to be reasonable
under the circumstances.
Critical accounting estimates and judgments
The critical accounting estimates and key assumptions that have a significant risk of causing a material
adjustment to the carrying amount of assets and liabilities within the next accounting period are outlined as
below:
27.1 Estimated useful lives and residual values of fixed assets
The Groups management determines the estimated useful lives and residual values for its fixed assets. This
estimate is based on the historical experience of the actual useful lives and residual lives of fixed assets of
similar nature and functions. It could change significantly as a result of changes in economic environment,
technical innovations and other conditions. The management will adjust the estimations where the actual useful
lives and residual values are different from estimated useful lives and residual values.
27.2 Estimated beneficial periods of leasehold improvement and decoration
The Group operates numbers of hotels with rental properties, and makes payments to leasehold improvement
and decoration of the hotels. Based on the historical experience and available information, the leasehold
improvement is amortized within shorter period among useful lives, lease terms and expected beneficial periods.
The management of the Group will revise the expectation where the estimated beneficial period of leasehold
improvement and decoration is different from the original expectation.
- 88 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
27. Significant accounting estimates and judgements - continued
27.3 Useful life of land and trademark and brand
Useful life of land and trademark and brand is indefinite, deemed by the management, as the Group-owned land
and trademark will be utilized and will bring about expectant economic interest inflow in the foreseeable future,
and therefore neither land nor trademark is amortized. Nevertheless, whether impairment indication of
aforementioned land and trademark exists, management conducts impairment test annually.
27.4 Deferred income tax assets and deferred income tax liabilities
Deferred income tax assets and liabilities are determined using tax rates that are expected to apply when the
related deferred income tax assets are realized or the related deferred income tax liabilities are settled. The
expected applicable tax rate is determined based on the enacted tax laws and regulations and the actual situation
of the Group. The management of the Group will revise the expectation where the intending tax rate is different
from the original expectation.
Deferred income tax assets are recognized to the extent that it is probable that future taxable profit will be
available against which the temporary differences can be utilized. The carrying amount of deferred income tax
assets is written down when it is expected that there is not sufficient taxable profits to be obtained to utilize the
temporary differences in the coming periods.
All the deductible tax losses and the deductible temporary differences are not recognized as deferred tax assets
as the Group is not assured that relevant deductible tax losses and deductible temporary differences can be
reversed in all probability. If actual gain generated in the future is superior to the estimate, the corresponding
deferred tax assets will be adjusted depending on circumstances and be recognized in the consolidated income
statement for the relevant period.
27.5 Impairment for long-term equity investment, fixed assets, construction in progress, intangible assets with
finite life , leasehold improvement and decoration expenses
The Groups management assesses at each of the balance sheet date whether long-term investments, fixed assets,
land-use right and leasehold improvement have any indication of impairment, in accordance with the accounting
policy stated in note (III) 17. The recoverable amount is the higher of an assets present value of estimated
future cash flows and fair value less costs to sell, which is estimated based on the best information available to
reflect the amount that is obtainable at each of the balance sheet date from the disposal of the asset (net of the
costs to disposal) in an arms length transaction between parties at a known and willing basis, or the cash that is
generated from continuous use of the assets. The estimation is likely to be adjusted in each impairment test.
27.6 Impairment of receivables
The Groups management estimates the provisions of impairment of accounts receivables and other receivables
by assessing their recoverability. Provisions are applied to accounts receivables and other receivables where
events or changes in circumstances indicate that the balances may not be collected and require using estimation.
Where the expectation is different from the original estimation, such difference will have impact on carrying
value of receivables and the impairment charge.
27.7 Impairment of goodwill
Goodwill is tested for impairment at least once at the end of each year. For the purpose of impairment testing,
goodwill is considered together with the related assets. The recoverable amounts of asset group or asset groups
determined based on the present value of expected future cash flows. Accounting estimate are made for
calculation.
The key assumptions and estimates to calculate the recoverable amounts are listed in Note (V) 14. If the actual
amounts are different from the estimates, it will bring impacts on the recoverable amounts of asset group or
asset groups, hence resulted to impairment of goodwill.
- 89 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATES - continued
27. Significant accounting estimates and judgements - continued
27.8 Long-term employee benefits payable
At the end of each accounting year, the management invites experts to conduct actuarial valuation over the
Groups defined benefit plan. The actuary valuation involves estimate of discount rate, long-term inflation rate,
wage growth and mortality. If the actual situation differs from estimate, the difference influences the carrying
amount of long-term employee benefits payable.
IV. TAXATION
Major tax types and tax rates
Tax type Tax basis Tax rate and simple levy rate
The Company and subsidiaries in Mainland
China:
Value added tax ("VAT") on sales is
calculated on revenue from principal
Value added tax 5%, 6%, 11% or 17%
operations and paid after deducting input
VAT on purchases
City maintenance and construction tax Turnover tax 5% or 7%
Education surcharges Turnover tax 3%
Local education surcharges Turnover tax 2%
Enterprise income tax Taxable income 9%, 15% or 25%(Note 1)
Original cost of taxable property and
Property tax 1.2% or 12%
rental income
Subsidiaries out of Mainland China :
Value added tax Taxable revenue 20%, 19.6% or 10%
Don mutuel des société Taxable revenue 0.16%
Effort Construction Taxable employee salary 0.45%
Taxed Apprentissage Taxable employee salary 0.68%
Formation Prof. Continue Taxable employee salary 0.15%, 1.05% or 1.60%
Enterprise income tax Taxable income Note 2
Contribution for Value Added by The value added amount of companies in
0% - 1.5%
business(CVAE) accordance with France Tax Law
Note 1: Pursuant to "Circular of Adjustment on Enterprise Income Tax Rate" (Zang Zheng Fa [2011] No. 14)
issued by the Peoples Government of Tibet Autonomous Region, and preferential tax policies of
Western Development Campaign, the companies established in Tibet Autonomous Region are levied
Value added tax at rate of 15% from 2011 to 2020. Pursuant to "Circular of Implementation Measures
on Enterprise Income Tax Policy for Enterprises in Tibet Autonomous Region" issued by the Peoples
Government of Tibet Autonomous Region (Zang Zheng Fa [2014] No. 51), enterprises in Tibet
Autonomous Region are temporarily exempted from the enterprise income tax payable to local
governments from 2015 to 2017. Accordingly, Lhasa Jin Jiang Inns income tax rate is 9 % for 2017.
Guangzhou Saiwen Software Development Co., Ltd. was granted as a High-Tech Enterprise in 2014,
and its enterprise income tax rate is 15% for the three consecutive years since 2015.
The Company and other domestic subsidiaries are subject to tax rate of 25%.
Note 2: GDL, an oversea subsidiary outside of Mainland China, is applicable for basic income tax rate of
33.33%, while if the total revenue exceeds EUR 7,630,000.00, the applicable income tax rate will be
increased to 34.43%. In accordance with relevant financial decree in France, the income tax rate
applicable to GDL will decrease to 28.92% from 34.43 from 2019.
Subsidiaries incorporated in Cayman Islands are exempted from enterprise income tax. The income tax
rates for subsidiaries incorporated in Hong Kong, Germany, Singapore, Austria, Luxemburg and India
are respectively 16.5%, 15%, 17%, 25% 29.22% and 33.90% respectively.
- 90 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS
1.Cash and bank balances
RMB
30 June 2017 31 December 2016
Item Amount in Exchange Amount in Exchange
Amount in RMB Amount in RMB
Foreign Currency rate Foreign Currency rate
Cash:
RMB 13,132,461.29 16,406,368.21
Bank deposits (Note1):
RMB 6,254,008,670.47 5,397,122,804.31
USD 101,319,871.13 6.7748 686,417,270.20 106,806,792.54 6.9370 740,918,742.51
EUR 69,999,275.80 7.7496 542,466,388.22 114,299,162.87 7.3068 835,161,123.26
GBP 2,137,710.45 8.8164 18,846,872.49 1,481,838.25 8.5360 12,648,943.60
BRL 1,507,000.00 2.0611 3,106,023.19 2,481,000.00 2.1296 5,283,640.57
PLN 41,872,291.38 1.8338 76,785,023.50 36,993,381.63 1.6569 61,293,251.90
MAD 106,000.00 0.7037 74,589.81 94,000.00 0.6845 64,340.91
IDR 1,401,844,253.46 0.0005 713,415.61 95,789,000.00 0.0005 49,381.91
HKD 4,440,299.73 0.8818 3,915,674.80 3,887,002.92 0.8945 3,476,924.09
KRW - - - 58,743,000.00 0.0058 338,141.55
INR 89,408,626.00 0.1051 9,395,634.80 - - -
Deposit in other financial
institution (Note2):
RMB 943,789,925.11 716,477,176.50
Total 8,552,651,949.49 7,789,240,839.32
Note 1: The bank balances of the Group include time deposit of RMB 3,306,492,000.00 that pledged for
borrowings. (Opening balance: RMB 1,417,068,000.00). For details please refer to Note (V) 28.
The bank balances of the Group include frozen fund of RMB 3,642,515.06 for litigation (Opening
balance: 14,080,776.39). For details please refer to Note (V) 31.
The bank balances of the Group include RMB 3,477,708.89 for the promotion of specific brand,
whose actual use should be approved by the authorizer of such brand.
Note 2: Deposit in other financial institution refers to the amount deposited Jin Jiang International Finance Co.,
Ltd (non-bank financial institution as approved, hereinafter referred to as "Finance Company").
2.Accounts receivable
(1) Disclosure of accounts receivable by categories:
RMB
30 June 2017 31 December 2016
Carrying amount Bad debt provision Carrying amount Bad debt provision
Category
Ratio Ratio Book value Ratio Ratio Book value
Amount (%) Amount (%) Amount (%) Amount (%)
Accounts receivable that are
individually significant and
for which bad debt provision - - - - - - - - - -
has been assessed
individually
Accounts receivable for
which bad debt provision has
998,606,708.13 97.93 127,172,274.02 12.73 871,434,434.11 743,108,862.65 97.84 125,871,731.28 16.94 617,237,131.37
been assessed by credit risk
portfolio
Accounts receivable that are
not individually significant
but for which bad debt 21,091,355.22 2.07 12,476.70 0.06 21,078,878.52 16,394,093.01 2.16 12,476.70 0.08 16,381,616.31
provision has been assessed
individually
Total 1,019,698,063.35 100.00 127,184,750.72 12.47 892,513,312.63 759,502,955.66 100.00 125,884,207.98 16.57 633,618,747.68
(2) Bad debt provision of the accounts receivable that recognized by aging analysis:
RMB
30 June 2017
Aging Amount Bad debt provision Ratio (%)
Within 3 months 706,717,852.36 - -
3-12 months 160,984,154.55 33,587,366.89 20.86
Over 12 months 130,904,701.22 93,584,907.13 71.49
Total 998,606,708.13 127,172,274.02 12.73
- 91 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
2.Accounts receivable - continued
(3) Provision, collection or reversal of bad debts provisions for the period
RMB
Translation differences
arising on translation of
31 December
Item Provision Reversal Write-off financial statements 30 June2017
2016
denominated in foreign
currencies
Bad debts
125,884,207.98 13,317,045.15 (15,960,482.17) (658,852.22) 4,602,831.98 127,184,750.72
provisions
(4) Top five entities with the largest balances of accounts receivable
Proportion of the amount Bad debt
Relationship with Amount to the total accounts provision
Name of entity the Group receivable (%) Amount
Beijing Three Fast Technology Co., Ltd. The third party 24,484,712.04 2.40 282,551.81
Shanghai Jin Jiang International E-Commerce
The related party 17,966,751.90 1.76 1,923,527.16
Co., Ltd.
Shanghai Debi Investment Management Co., Ltd. The third party 17,441,489.44 1.71 -
Beijing Kuxun Science and Technology Co., Ltd The third party 11,057,912.40 1.08 -
GOLDEN TULIP MENA The related party 9,206,524.80 0.90 3,452,446.80
Total 80,157,390.58 7.85 5,658,525.77
3.Advances to suppliers
(1) The aging analysis of advances to suppliers is as follows:
RMB
30 June 2017 31 December 2016
Aging
Amount Ratio (%) Amount Ratio (%)
Within one year 264,074,163.69 100.00 309,862,334.50 100.00
Total 264,074,163.69 100.00 309,862,334.50 100.00
(2) Top five entities with the largest balances of advances to suppliers
RMB
Name of entity Relationship with the
Closing balance Reasons for outstanding
Group
Guangzhou Chenxin Investment Consultation Co., Ltd. The third party 5,640,224.63 Prepaid rental
Shenyang Yuning Real Estate Development Co., Ltd. The third party 5,257,263.14 Prepaid rental
Shanghai Airport(Group) Co., Ltd The third party 4,084,663.07 Prepaid rental
ILIKI LIMITED The third party 3,289,233.70 Prepaid construction
Beijing Plastic Research Institute The third party 2,544,999.97 Prepaid rental
Total 20,816,384.51
4.Interest receivable
RMB
Name of entity 30 June 2017 31 December 2016
Time bank deposits 338,453,499.54 131,539,258.23
Deposits in Finance Company 12,580,322.54 10,227,865.86
Entrusted Loan 63,295.10 666,007.65
Total 351,097,117.18 142,433,131.74
- 92 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
5.Dividends receivable
RMB
Translation
differences
of
financial
31 December Reasons for Impaired or
Item Increase Decrease statements 30 June 2017
2016 outstanding not
denominat
ed in
foreign
currency
Dividends receivable aged
within one year
(1)Chang Jiang Security
- 7,950,000.00 (7,950,000.00) - - N/A
Co., Ltd.
(2)Hangzhou Kentucky Yet to be
14,579,808.60 38,964,078.50 (22,372,203.48) - 31,171,683.62 No
Fried Chicken Co., Ltd. distributed
(3)Suzhou Kentucky Fried Yet to be
- 15,461,142.53 (9,600,000.00) - 5,861,142.53 No
Chicken Co., Ltd. distributed
(4)Wuxi Kentucky Fried Yet to be
- 7,125,239.26 (4,000,000.00) - 3,125,239.26 No
Chicken Co., Ltd. distributed
(5)Shanghai Kentucky Fried
- 87,297,483.35 (87,297,483.35) - - N/A
Chicken Co., Ltd.
(6) Shanghai New Asia
Fulihua Catering Co., Ltd. - 4,592,000.00 (4,592,000.00) - - N/A
(7) Equity investments of Yet to be
549,887.85 479,044.37 (478,664.17) 33,338.83 583,606.88 No
GDL distributed
(8) Others - 1,594,902.32 (1,594,902.32) - - N/A
Total 15,129,696.45 163,463,890.33 (137,885,253.32) 33,338.83 40,741,672.29
6.Other receivables
(1) Disclosure of other receivables by category:
RMB
30 June 2017 31 December 2016
Carrying amount Bad debt provision Carrying amount Bad debt provision
Ratio Ratio Book value Ratio Ratio Book value
Amount Amount Amount Amount
Category (%) (%) (%) (%)
Other receivables that are
individually significant and
for which bad debt 28,311,764.18 5.13 5,775,000.00 20.40 22,536,764.18 45,088,984.18 8.87 5,775,000.00 12.81 39,313,984.18
provision has been assessed
individually
Other receivables for which
bad debt provision have
- - - - - - - - - -
been assessed by credit risk
portfolio
Other receivables that are
not individually significant
but for which bad debt 523,258,894.35 94.87 50,819,430.31 9.71 472,439,464.04 463,212,255.80 91.13 49,244,919.21 10.63 413,967,336.59
provision has been assessed
individually
Total 551,570,658.53 100.00 56,594,430.31 10.26 494,976,228.22 508,301,239.98 100.00 55,019,919.21 10.82 453,281,320.77
Other receivables that are individually significant and for which bad debt provision has been assessed
individually at end of the period:
RMB
Closing balance
Name of entity
Carrying amount Bad debts Ratio (%) Reasons for
Shenzhen Yingmaiqi Electromechanical 5,775,000.00 provision
5,775,000.00 100.00 Projected to be
Equipment Co., Ltd.(Note) uncollectable
Total 5,775,000.00 5,775,000.00
Note: As equipment provided Shenzhen Yingmaiqi Electromechanical Equipment Co., Ltd., the supplier of
Keystone, is unavailable to expected use, Keystone requires the payback of relevant payments. At the
end of the reporting report, Keystone has made a bad debt provision for the recoverable amount of
such accounts receivable in full amount.
- 93 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
6. Other receivables - continued
(2) Provision, collection or reversal of bad debts provisions for the period
RMB
Translation
differences
arising on
translation of
31 December
Item Provision Reversal Write-off financial 30 June 2017
2016
statements
denominated in
foreign
currencies
Bad debts
55,019,919.21 2,016,306.24 (1,770,027.20) (429,435.17) 1,757,667.23 56,594,430.31
provision
(3) Other receivables by nature
RMB
Nature 30 June 2017 31 December 2016
Deposits and guarantees 249,495,371.03 250,676,446.21
Business working capital 9,253,564.17 10,705,805.71
Payables from disposal of subsidiaries (NoteVI (2)) 7,362,197.50 -
Payables from disposal of Available-for-sale financial 15,644,582.50 -
assets(Note)
Advances and others 269,814,943.33 246,918,988.06
Total 551,570,658.53 508,301,239.98
Note: During the reporting period, the Groups subsidiary, GDL, disposed the equity it held in Lyon
Part-Dieu at a consideration equivalent to RMB 15,644,582.50, which generated investment income
discounted to RMB14,924,678.18. At the end of the reporting period of the financial statement, such
consideration for this transaction has not been received.
(4) Top five entities with the largest balances of other receivables
RMB
Proportion of the Bad debts
Relation
amount to the provision
Name of entity Nature with the Closing balance Aging
total other Closing
Company
receivables (%) balance
Hangzhou Qianjiang Xincheng One to two
The third
Asset Operation and Management Guarantees 15,516,524.00 years 2.81 -
party
Investment Co., Ltd.(Note)
Guangzhou Baidawu Information The third One to two
Advances 7,020,240.18 1.27 -
Technology Co., Ltd. party years
Shenzhen Yingmaiqi One to two
The third
Electromechanical Equipment Co., Advances 5,775,000.00 years 1.05 5,775,000.00
party
Ltd.
Shaanxi Maoyuan Industrial Group Demolition The related
4,652,152.44 Over 5 years 0.84 2,640,000.00
Co., Ltd. compensation party
The third Within one
Liu Yunwu Advances 4,423,940.22 0.80 -
party year
Total 37,387,856.84 6.77 8,415,000.00
Note: It refers to the amount paid by Hangzhou Jinche Inn Hotels Investment and Management Co., Ltd.,
the subsidiary of Shanghai Jin Jiang International Hotel Investment Company Limited ("Hotel
Investment"), to Hangzhou Qianjiang Xincheng Asset Operation and Management Investment Co.,
Ltd. for performance bond and leasehold improvement deposits as per lease contract.
- 94 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
7. Inventories
(1) Category of inventories
RMB
30 June 2017 31 December 2016
Item Carrying Provision for the Carrying Provision for the
Book value Book value
amount decline in value amount decline in value
Raw material 31,723,178.08 139,938.64 31,583,239.44 39,085,659.17 - 39,085,659.17
Finished goods 480,200.46 - 480,200.46 601,105.11 - 601,105.11
Goods on hand 41,982,348.60 2,953,611.91 39,028,736.69 40,222,540.60 2,746,711.33 37,475,829.27
Total 74,185,727.14 3,093,550.55 71,092,176.59 79,909,304.88 2,746,711.33 77,162,593.55
(2) Provision for decline in value of inventories
RMB
Translation
differences of
31 December financial
Category Provision Write-off 30 June 2017
2016 statements
denominated in
foreign currency
Raw materials - 139,938.64 - - 139,938.64
Goods on
2,746,711.33 162,472.82 (79,073.28) 123,501.04 2,953,611.91
hand
Total 2,746,711.33 302,411.46 (79,073.28) 123,501.04 3,093,550.55
8.Other current assets
RMB
Item 30 June 2017 31 December 2016
Prepaid tax 222,774,666.92 198,924,428.61
Deferred expenses 35,238,847.50 29,840,996.99
Entrusted loans(note) 16,476,100.72 28,322,363.79
Others 1,048,434.99 377,011.79
Total 275,538,050.13 257,464,801.18
Note: It refers to entrusted loans from Keystone, a subsidiary of the Group, to its franchise outlets with annual
interest rate of 10% to 12%.
9.Available-for-sale financial assets
(1)Available-for-sale financial assets
RMB
30 June 2017 31 December 2016
Item Bad debt Bad debt
Carrying amount Book value Carrying amount Book value
provision provision
Available-for-sale equity
instruments
- Measured at fair value 1,136,852,267.61 - 1,136,852,267.61 1,288,934,427.52 - 1,288,934,427.52
- Measured at cost 38,271,369.78 4,007,788.32 34,263,581.46 38,078,355.51 3,793,074.19 34,285,281.32
Total 1,175,123,637.39 4,007,788.32 1,171,115,849.07 1,327,012,783.03 3,793,074.19 1,323,219,708.84
- 95 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
9.Available-for-sale financial assets - continued
(2) Available-for-sale financial assets measured at fair value at end of period
RMB
Available-for-sale
Category of available-for-sale financial assets
equity instruments
Cost of equity instruments 472,411,485.54
Fair value 1,136,852,267.61
Total changes in fair value of available-for-sale financial assets cumulatively
664,440,782.07
recognized in other comprehensive income
RMB
Change in fair Change for the Number of shares at
Name of investee Stock code 31 December 2016 30 June 2017
value period end of the period
Chang Jiang Security Co., Ltd. 000783 644,489,999.99 (129,455,205.85) (13,124,794.15) 501,909,999.99 53,000,000
Bank of communications 601328 5,849,458.67 395,370.69 - 6,244,829.36 1,013,771
Quanjude 002186 2,103,376.00 (167,314.00) - 1,936,062.00 95,608
Shenwan Hongyuan 000166 93,559,775.00 (9,730,216.60) - 83,829,558.40 14,969,564
Ocean BT L.P.(Note) 542,931,817.86 - - 542,931,817.86 N/A
Total 1,288,934,427.52 (138,957,365.76) (13,124,794.15) 1,136,852,267.61
Note: During the reporting period, Keystone, a subsidiary of the Company, has transferred the equity it held
in eLong Inc. (“eLong”) via Ocean Imagination L.P. to Ocean BT L.P., a partnership newly established
by Ocean Voyage L.P., the general partner of Ocean Imagination L.P., Therefore, Keystone becomes a
limited partner of Ocean BT L.P., and holds the original equity in eLong via Ocean BT L.P. The Group
recognized such equity investment in Ocean BT L.P. as an available-for-sale financial asset, whose fair
value recognition can be referred to Note (IX) 4 for details.
- 96 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
9.Available-for-sale financial assets - continued
(3) Available-for-sale financial assets at cost at end of the reporting period
RMB
Carrying amount Bad debt provision
Translation Translation
differences differences of
Shareholding
Initial Increase from of financial financial
Investee 31 December 31 December proportion in Cash dividend
investment business Increase Decrease statements 30 June 2017 Increase statements 30 June 2017
2016 2016 investees (%)
cos combination denominated denominated in
in foreign foreign
currency currency
Hangzhou Kentucky Fried
12,265,725.33 12,265,725.33 - - - - 12,265,725.33 - - - - 8 38,964,078.50
Chicken Co., Ltd.
Suzhou Kentucky Fried Chicken
5,484,594.24 5,484,594.24 - - - - 5,484,594.24 - - - - 8 15,461,142.53
Co., Ltd.
Wuxi Kentucky Fried Chicken
3,761,343.20 3,761,343.20 - - - - 3,761,343.20 - - - - 8 7,125,239.26
Co., Ltd.
Chang Jiang United Development
700,000.00 700,000.00 - - - - 700,000.00 - - - - <1 -
Co., Ltd.
Shanghai Trade Centre Company
5,187,700.00 5,187,700.00 - - - - 5,187,700.00 - - - - 3 75,000.00
Limited
Shanghai Jin Jiang International
1,469,473.95 1,469,473.95 - - - - 1,469,473.95 - - - - 15 -
Hotel Commodities Co., Ltd.
Guangzhou Hanyan Desserts Co.,
100,000.00 100,000.00 - - - - 100,000.00 - - - - 4.95 -
Ltd.
Guangzhou Wanruoguli
4,000,000.00 4,000,000.00 - - - - 4,000,000.00 - - - - 10 -
Information Technology Co., ltd.
Guangzhou Slow Motion
50,000.00 50,000.00 - - - - 50,000.00 50,000.00 - - 50,000.00 4 -
Information Technology Co., Ltd.
Guangzhou Movie Dreams
200,000.00 200,000.00 - - - - 200,000.00 200,000.00 - - 200,000.00 5 -
Information Co.,Ltd.
Available-for-sale financial assets
4,685,433.69 4,859,518.79 - 127,597.02 (225,218.57) 290,635.82 5,052,533.06 3,543,074.19 - 214,714.13 3,757,788.32 - 383,316.87
of GDL
Total 37,904,270.41 38,078,355.51 - 127,597.02 (225,218.57) 290,635.82 38,271,369.78 3,793,074.19 - 214,714.13 4,007,788.32 - 62,008,777.16
- 97 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10.Long-term equity investments
RMB
Changes for the period
Translation
Closing
differences of
Adjustment Provision balance of
31 December Investment Cash dividends financial
Investee on other Other equity for 30 June 2017 provision for
2016 Increase Other changes income under or profit statements
comprehens investment impairment impairment
equity method distribution denominated
ive income loss loss
in foreign
currency
Associates
Shanghai Kentucky Fried Chicken Co., Ltd. 187,254,691.69 - - 56,616,425.56 - - (87,297,483.35) - - 156,573,633.90 -
Shanghai Xinlu Catering Development Co., Ltd. 2,131,503.88 - - 133,721.14 - - - - - 2,265,225.02 -
Shanghai New Asia Fulihua Catering Co., Ltd. 30,203,975.52 - - 3,699,099.74 - - (4,592,000.00) - - 29,311,075.26 -
Shanghai Qicheng Network Technology Co., Ltd.(Note 1) - 100,000,000.00 - (8,296,229.33) - (34,601,168.38) - - - 57,102,602.29 -
Shanghai Yoshinoya Co., Ltd. 2,114,812.71 - - 9,393.06 - - - - - 2,124,205.77 -
Shanghai Xinjin Hotel Management Co., Ltd. 2,083,796.37 - - 403,535.29 - - - - - 2,487,331.66 -
SNC Invest Hotels Dix 90 8,602,525.66 - - (216,716.32) - - - - 512,761.39 8,898,570.73 -
SNC Rouen Annecy 6,694,905.17 - - 2,572.81 - - - - 405,882.93 7,103,360.91 -
SNC Lisieux 8,458,760.77 - - 684,221.45 - - - - 539,638.98 9,682,621.20 -
SNC Angers Montpellier Villeneuve
5,699,372.92 - - 345,972.58 - - - - 358,902.89 6,404,248.39 -
Rennes Invest Hotels
SNC Chaville Bx Arles 5,400,729.48 - - 110,385.91 - - - - 331,650.65 5,842,766.04 -
SNC Bayeux Bergerac Blagnac 4,194,785.66 - - 73,418.97 - - - - 257,108.83 4,525,313.46 -
SNC Fontenay Dieppe 3,722,988.69 - - 18.05 - - - - 225,617.87 3,948,624.61 -
Saclay Invest Hotel 3,656,306.41 - - 2,050.64 - - - - 221,656.40 3,880,013.45 -
Guangzhou Minyan Information Technology Co., Ltd. 2,330,820.98 - - (29,742.04) - - - - - 2,301,078.94 -
Guangzhou Eggshell Network Technology Co., Ltd. 6,942,022.00 - - 457,198.19 - - - - - 7,399,220.19 -
Shenzhen Fifth Space Apartment Hotel Management
2,256,534.43 - - (272,214.35) - - - - - 1,984,320.08 -
Co., Ltd.
Guangzhou Fulunzi Information Technology Co., Ltd. 2,662,935.95 - - (61,341.89) - - - - - 2,601,594.06 -
Guangzhou Chuangbianzhe Entry-Exit Service Co., Ltd. 1,510,396.54 - - (78,641.80) - - - - - 1,431,754.74 -
Guangzhou Wormhole Network Technology Co., Ltd. 4,232,281.40 - - (473,847.65) - - - - - 3,758,433.75 -
Guangzhou Qinyou Commercial Services Co., Ltd. 2,004,694.16 - - (274,817.01) - - - - - 1,729,877.15 -
Guangzhou Xiaopang Information Technology Co., Ltd. 479,467.67 - - (2,575.89) - - - - - 476,891.78 -
Guangzhou Muximei Internet Service Co., Ltd. 1,799,674.12 - - (132,928.76) - - - - - 1,666,745.36 -
Guangzhou Yaji Hotel Management Co., Ltd. 1,000,000.00 - (8,185.69) - - - - - 991,814.31 -
Guangzhou Yule Network Co.,Ltd. - 1,000,000.00 - (91,956.96) - - - - - 908,043.04 -
Shenzhen Qu Wo Apartment Management Co., Ltd.
30,000.00 - (30,000.00) - - - - - - - -
(“Shenzhen Qu Wo”)(Note2)
Guangzhou Wo Qu Apartment Management Co., Ltd.
- - 23,121,951.22 - - - - - - 23,121,951.22 -
(“Guangzhou Wo Qu”)(Note(VI)2)
Others 36,841,451.61 - - 812,588.86 186,422.60 - (95,727.50) - 2,282,582.25 40,027,317.82 -
Total 332,309,433.79 101,000,000.00 23,091,951.22 53,411,404.56 186,422.60 (34,601,168.38) (91,985,210.85) - 5,135,802.19 388,548,635.13 -
- 98 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10.Long-term equity investments - continued
Note1: On 16 February 2017, Shanghai Qicheng Network Technology Co., Ltd. was jointly established by the
Company with five other companies, namely, Shanghai Jin Jiang Capital Management Co., Ltd., Jin
Jiang Hotel Group, Shanghai Lianyin Venture Capital Investment Co., Ltd., Tibet Hongyi Jiacheng
Investment Management Center (LP), and Shanghai Guosheng Group Investment Co., Ltd., in which
the Company contributed RMB 100,000,000.00 and held 10% shares. As the Company has significant
influence on it in accordance with the shareholder agreement and articles of associations, Shanghai
Qicheng Network Technology Co., Ltd. is recognized as an associate of the Company. The ultimate
controller of Shanghai Qicheng Network Technology Co., Ltd. is Jin Jiang International. In April 2017,
Shanghai Qicheng Network Technology Co., Ltd. acquired 100% equity in two subsidiaries of Jin Jiang
International, Shanghai Jin Jiang International E-Commerce Co., Ltd. and Huitong Baida Network
Technology(Shanghai) Co., Ltd. Due to this business combination involving enterprises under common
control, the Companys long-term equity investments in Shanghai Qicheng Network Technology Co.,
Ltd. decreased RMB 34,601,168.38, hence the Companys capital reserve also reduced
correspondingly.
Note2: Shenzhen Qu Wo is an associate of Guangzhou Wo Qu. During the reporting period, since Keystone, a
subsidiary of the Group, has lost control over Guangzhou Wo Qu (see Note (VI) 2 for details), the
Group has no longer combined the equity investments in Shenzhen Qu Wo in the scope of
consolidation.
- 99 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
11.Fixed assets
(1) Fixed assets
RMB
Machinery and Transportation Fixed assets
Item Overseas land Buildings Total
equipment vehicles improvements
I. Original carrying amount
1.31 December 2016 1,240,264,568.94 8,110,238,345.81 3,090,966,299.95 22,553,410.45 517,362,429.00 12,981,385,054.15
2.Addition
(1)Purchase 46,862.46 14,078,869.52 41,648,321.51 45,878.04 7,650,570.93 63,470,502.46
(2) Transferred from
34,859.75 22,281,950.64 43,007,483.94 - 16,227,927.86 81,552,222.19
construction in progress
(3) Transferred from
construction in 7,782,063.77 41,207,962.67 23,143,705.04 - 21,394,245.05 93,527,976.53
progress (NoteVI(1))
(4) Translation
differences of
financial statements 77,926,246.20 352,739,212.27 64,822,567.22 - 13,199,205.10 508,687,230.79
denominated in
foreign currency
3.Deduction
(1)Disposal or retirement - - (28,435,788.66) (4,617.00) (571,659.60) (29,012,065.26)
(2)Decrease due to
(687,006.77) (18,755,909.61) (4,177,425.02) - (358,486.98) (23,978,828.38)
disposal of subsidiaries
(3) Construction clearing
- (1,583.79) (2,550,946.28) - (342,993.72) (2,895,523.79)
adjustment
4.30 June 2017 1,325,367,594.35 8,521,788,847.51 3,228,424,217.70 22,594,671.49 574,561,237.64 13,672,736,568.69
II．Accumulated depreciation
1.31 December 2016 57,779,708.11 3,742,696,776.10 2,021,688,524.91 13,146,387.41 337,855,138.81 6,173,166,535.34
2.Addition
(1)Accrual 755,545.76 177,040,782.86 146,479,125.40 1,406,941.60 39,255,250.09 364,937,645.71
(2)Decrease due to
acquisition of
- 6,134,599.08 16,484,443.07 - 10,090,046.87 32,709,089.02
subsidiaries
(NoteVI(1))
(3) Translation
differences of
financial statements 3,790,840.38 208,426,127.62 50,591,781.16 - 6,493,487.79 269,302,236.95
denominated in
foreign currency
3.Deduction
(1)Disposal or retirement - - (23,472,012.19) (3,631.59) (162,322.73) (23,637,966.51)
(2)Decrease due to
(269,551.96) (18,697,120.55) (2,969,095.36) - (353,501.98) (22,289,269.85)
disposal of subsidiaries
4.30 June 2017 62,056,542.29 4,115,601,165.11 2,208,802,766.99 14,549,697.42 393,178,098.85 6,794,188,270.66
III. Provision for impairment
loss
1.31 December 2016 - - 104,404.20 - - 104,404.20
2.Addition - - 4,544,950.79 - - 4,544,950.79
3. Disposal or retirement - - - - - -
4.30 June 2017 - - 4,649,354.99 - - 4,649,354.99
IV.Book value
1.30 June 2017 1,263,311,052.06 4,406,187,682.40 1,014,972,095.72 8,044,974.07 181,383,138.79 6,873,898,943.04
2.31 December 2016 1,182,484,860.83 4,367,541,569.71 1,069,173,370.84 9,407,023.04 179,507,290.19 6,808,114,114.61
(2) Fixed assets under finance lease
RMB
Item Original carrying Accumulated Book value
amount depreciation
Overseas land 120,335,788.80 69,746.40 120,266,042.40
Buildings 788,601,620.88 657,855,203.42 130,746,417.46
Machinery and equipment 14,461,825.11 10,178,639.79 4,283,185.32
Total 923,399,234.79 668,103,589.61 255,295,645.18
- 100 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
11.Fixed assets - continued
(3) Fixed assets of which certificates of title have not been obtained
At the end of the reporting period, the amounts of fixed assets whose certificates of title have not been obtained
are RMB 161,237,057.46 belong to the subsidy Smartel Hotel management Co., Ltd. ("Smartel ")
(4) Pledged fixed assets
As at the end of the reporting period, the subsidiaries buildings with net book value of RMB 178,794,604.83
were pledged for long-term borrowings. Details are set out in Note V (28) note 2.
12.Construction in progress
(1) Construction in progress
RMB
30 June 2017 31 December 2016
Item Provision for Provision for
Carrying amount Net book value Carrying amount Net book value
impairment of losses impairment of losses
I. Fixed assets decoration and improvement
Construction in progress of Hotel Investment
Renovation of Shanghai Natural History Museum Campanile
29,229,698.27 - 29,229,698.27 19,188,898.21 - 19,188,898.21
Hotel
Renovation of Shanghai Jiuting Husong Road Jin Jiang Inn 23,194,939.88 - 23,194,939.88 21,574,939.88 - 21,574,939.88
Renovation of Linfen Jiefang Road Goldmet Inn 21,840,838.92 - 21,840,838.92 23,002,358.35 - 23,002,358.35
Renovation of Tianjin Taierzhuang Road Jin Jiang Inn 21,132,856.11 - 21,132,856.11 19,618,358.07 - 19,618,358.07
Renovation of Tongyuan road Suzhou Industrial Park Jin
15,250,951.98 - 15,250,951.98 1,442,664.65 - 1,442,664.65
Jiang Inn
Renovation of Nanjing Jiangning General Street Campanile
11,446,143.58 - 11,446,143.58 - - -
Hotel
Renovation of Shanghai Jingan Temple Campanile Hotel 5,050,539.33 - 5,050,539.33 - - -
Renovation of Shenyang Sanhao Road Metropolo Hotel 111,374.37 - 111,374.37 39,107,212.60 - 39,107,212.60
Renovation of Foshan Nanhai Guicheng Subway Jin Jiang Inn - - - 26,669,174.34 - 26,669,174.34
Renovation of Shanghai Zhennan Jin Jiang Inn - - - 19,132,069.39 - 19,132,069.39
Renovation of Yinchuan Qinghe South Street Jin Jiang Inn 1,087.00 - 1,087.00 18,418,158.77 - 18,418,158.77
Renovation of Karymay Executive center Jin Jiang Inn - - - 16,555,746.57 - 16,555,746.57
Renovation of Hangzhou Binjiang Jiangling Road Jin Jiang
- - - 15,728,695.97 - 15,728,695.97
Inn
Renovation of Dunhuang Miaojie Jin Jiang Inn
- - - 14,172,478.65 - 14,172,478.65
Other renovation projects of Hotel Investment 1,010,693.71 - 1,010,693.71 1,733,257.39 - 1,733,257.39
Sub-total 128,269,123.15 - 128,269,123.15 236,344,012.84 - 236,344,012.84
GDLs construction in progress
Renovation of Louvre Htels Group 56,711,596.05 - 56,711,596.05 57,136,779.37 - 57,136,779.37
Htels du pont de Suresnes 12,892,040.36 - 12,892,040.36 7,236,432.89 - 7,236,432.89
Renovation of Bleu Aix en Provence Galice 10,330,537.79 - 10,330,537.79 2,246,746.38 - 2,246,746.38
Renovation of Htel Grill Bordeaux Artigues 3,627,110.00 - 3,627,110.00 2,497,139.96 - 2,497,139.96
Renovation of Htel Grill Compiegne 2,768,809.02 - 2,768,809.02 4,554,832.32 - 4,554,832.32
Renovation of Htel Grill de Chelles 2,754,189.63 - 2,754,189.63 4,419,551.96 - 4,419,551.96
Renovation of Htel Gril Aix Meyreuil 2,705,263.07 - 2,705,263.07 2,755,266.48 - 2,755,266.48
Renovation of Htel Grill Cergy, Osny 2,468,706.30 - 2,468,706.30 107,409.96 - 107,409.96
Renovation of LC VillUp SAS 2,003,688.22 - 2,003,688.22 2,807,628.55 - 2,807,628.55
GDLs other renovations 43,059,224.67 - 43,059,224.67 60,329,147.61 - 60,329,147.61
Sub-total 139,321,165.11 - 139,321,165.11 144,090,935.48 - 144,090,935.48
Keystones construction in progress
Construction of commercial properties 23,930,073.61 - 23,930,073.61 23,930,073.61 - 23,930,073.61
Renovation of 7 Days Inns 19,254,556.47 - 19,254,556.47 14,977,805.49 - 14,977,805.49
Renovation of 7 Days Premiums 12,736,949.49 - 12,736,949.49 1,375,831.38 - 1,375,831.38
Keystones other renovations 5,405,404.53 (80,000.00) 5,325,404.53 7,798,840.88 (80,000.00) 7,718,840.88
Sub-total 61,326,984.10 (80,000.00) 61,246,984.10 48,082,551.36 (80,000.00) 48,002,551.36
- 101 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12.Construction in progress - continued
(1) Construction in progress - continued
RMB
30 June 2017 31 December 2016
Item Bad debt Bad debt
Carrying amount Net book value Carrying amount Net book value
provision provision
Construction in progress of Vienna and Longevity
Village
Renovation of Vienna Hotel at Shenzhen Airport
32,303,247.38 - 32,303,247.38 11,562,923.34 - 11,562,923.34
No.1 Road
Renovation of Xian Greater Wild Goose Pagoda -
8,632,903.21 8,632,903.21 - - -
Vienna Hotel
Renovation of Suzhou University Town Vienna Hotel 7,843,722.00 - 7,843,722.00 - - -
Renovation of Chengdu Century City Exhibition -
2,676,801.33 2,676,801.33 60,495,836.31 - 60,495,836.31
Vienna Hotel
Renovation of Shenzhen Shajing Qilin Vienna Hotel 2,976,607.21 - 2,976,607.21 369,233.20 - 369,233.20
Other renovations of Vienna and Longevity Village 13,301,054.27 - 13,301,054.27 4,757,722.01 - 4,757,722.01
Sub-total 67,734,335.40 - 67,734,335.40 77,185,714.86 - 77,185,714.86
Other construction in progress
Renovation of Changsha Kaifu Metropolo Hotel 98,477,021.48 - 98,477,021.48 94,127,982.53 - 94,127,982.53
Renovation of JJ Metropolo in Nanjing Hotel 43,510,266.98 - 43,510,266.98 39,010,320.94 - 39,010,320.94
Renovation of JJ Metropolo, South Huating Hotel 25,929,381.11 - 25,929,381.11 24,106,901.78 - 24,106,901.78
Other renovations 1,331,109.15 - 1,331,109.15 1,291,539.91 - 1,291,539.91
Total fixed asset renovations 565,899,386.48 (80,000.00) 565,819,386.48 664,239,959.70 (80,000.00) 664,159,959.70
II. Software
Jin Jiang Inn central procurement project and others 10,300,643.42 - 10,300,643.42 6,206,391.15 - 6,206,391.15
Keystone interface of finance management system
3,897,796.24 (2,600,420.00) 1,297,376.24 3,809,853.93 (2,600,420.00) 1,209,433.93
and others
Total software 14,198,439.66 (2,600,420.00) 11,598,019.66 10,016,245.08 (2,600,420.00) 7,415,825.08
Total 580,097,826.14 (2,680,420.00) 577,417,406.14 674,256,204.78 (2,680,420.00) 671,575,784.78
- 102 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Construction in progress - continued
(2) Movement of significant construction in progress
RMB
Translation
differences of Ratio of
Cumulative Including: amount
Increase in Transfer to financial interest
31 December Transfer to fixed Transfer to amount of of interest
Item acquisition of Addition long-term prepaid Other deduction statements 30 June 2017 capitalizatio Source of Fund
2016 assets intangible assets interest capitalization for
subsidiaries expenses denominated in n for this
capitalization this period
foreign period (%)
currency
Renovation of Changsha Kaifu Metropolo Hotel 94,127,982.53 - 4,349,038.95 - - - - - 98,477,021.48 - - - Self-financing
Renovation of Louvre Htels Group 57,136,779.37 - 9,100,954.97 - (12,840,947.53) - - 3,314,809.24 56,711,596.05 - - - Self-financing
Renovation of JJ Metropolo in Nanjing Hotel 39,010,320.94 - 4,499,946.04 - - - - - 43,510,266.98 - - - Self-financing
Renovation of Vienna Hotel at Shenzhen Airport - Self-financing
11,562,923.34 20,740,324.04 - - - - - 32,303,247.38 - - -
No.1 Road
Renovation of Shanghai Natural History Museum - Self-financing
19,188,898.21 10,040,800.06 - - - - - 29,229,698.27 - - -
Campanile Hotel
Renovation of JJ Metropolo, South Huating Hotel 24,106,901.78 - 1,822,479.33 - - - - - 25,929,381.11 - - - Self-financing
Construction of commercial properties 23,930,073.61 - - - - - - - 23,930,073.61 - - - Self-financing
Renovation of Shanghai Jiuting Husong - Sharesissuing
21,574,939.88 1,620,000.00 - - - - - 23,194,939.88 - - -
Road Jin Jiang Inn
Renovation of Linfen Jiefang Road Goldmet Inn 23,002,358.35 - - - - - (1,161,519.43) - 21,840,838.92 - - - Self-financing
Renovation of Tianjin Taierzhuang Road Jin Jiang Inn 19,618,358.07 - 1,514,498.04 - - - - - 21,132,856.11 - - - Sharesissuing
Renovation of 7 Days Inns 14,977,805.49 - 20,434,120.21 - - (16,157,369.23) - - 19,254,556.47 - - - Self-financing
Renovation of Tongyuan Road Suzhou Industrial - Self-financing
1,442,664.65 13,808,287.33 - - - - - 15,250,951.98 - - -
Park Jin Jiang Inn
Renovation of Htels du pont de Suresnes 7,236,432.89 - 5,457,905.40 (439,092.57) - - - 636,794.64 12,892,040.36 - - - Self-financing
Renovation of 7 Days Premiums 1,375,831.38 - 13,456,681.51 - - (2,095,563.40) - - 12,736,949.49 - - - Self-financing
Renovation of Nanjing Jiangning General Street - Self-financing
- 11,446,143.58 - - - - - 11,446,143.58 - - -
Campanile Hotel
Renovation of Bleu Aix en Provence Galice 2,246,746.38 - 7,645,610.38 - - - - 438,181.03 10,330,537.79 - - - Self-financing
Renovation of Xian Greater Wild Goose Pagoda - Self-financing
- 8,655,116.80 - - (22,213.59) - - 8,632,903.21 - - -
Vienna Hotel
Renovation of Suzhou University Town Vienna Hotel - - 7,843,722.00 - - - - - 7,843,722.00 - - - Self-financing
Renovation of Shanghai Jingan Temple Campanile - Self-financing
- 5,050,539.33 - - - - - 5,050,539.33 - - -
Hotel
Renovation of Htel Grill Bordeaux Artigues 2,497,139.96 - 1,292,732.38 (351,282.00) - - - 188,519.66 3,627,110.00 - - - Self-financing
Renovation of Shenzhen Shajing Qilin Vienna Hotel 369,233.20 - 2,760,374.01 - - (153,000.00) - - 2,976,607.21 - - - Self-financing
Renovation of Htel Grill Compiegne 4,554,832.32 - 262,008.59 (2,245,697.69) - - - 197,665.80 2,768,809.02 - - - Self-financing
Renovation of Htel Grill de Chelles 4,419,551.96 - 204,665.01 (2,064,391.89) - - - 194,364.55 2,754,189.63 - - - Self-financing
Renovation of Htel Gril Aix Meyreuil 2,755,266.48 - 596,769.65 (805,499.70) - - - 158,726.64 2,705,263.07 - - - Self-financing
Renovation of Chengdu Century City Exhibition - Self-financing
60,495,836.31 14,789,963.82 - - (72,608,998.80) - - 2,676,801.33 - - -
Vienna Hotel
- 103 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12、 Construction in progress - continued
(2) Movement of significant construction in progress - continued
RMB
Translation Ratio of
differences of Including: interest
Cumulative
Increase in Transfer to financial amount of capitalizat
31 December Transfer to fixed Transfer to amount of Source of
Item acquisition of Addition long-term Other deduction statements 30 June 2017 interest ion for
2016 assets intangible assets interest Fund
subsidiaries prepaid expenses denominated capitalization for this
capitalization
in foreign this period period
currency (%)
- Self-financin
Renovation of Htel Grill Cergy, Osny 107,409.96 2,374,890.62 (109,589.97) - - - 95,995.69 2,468,706.30 - - -
g
- Self-financin
Renovation of LC VillUp SAS 2,807,628.55 635,987.13 (1,573,055.62) - - - 133,128.16 2,003,688.22 - - -
g
Renovation of Shenyang Sanhao Road Metropolo - Self-financin
39,107,212.60 - (4,991,716.62) - (32,629,998.03) (1,374,123.58) - 111,374.37 - - -
Hotel g
Renovation of Foshan Nanhai Guicheng Subway - Self-financin
26,669,174.34 1,022,047.10 (3,318,223.13) - (24,372,998.31) - - - - - -
Jin Jiang Inn g
- Self-financin
Renovation of Shanghai Zhennan Jin Jiang Inn 19,132,069.39 251,327.05 (2,996,081.50) - (16,387,314.94) - - - - - -
g
Renovation of Yinchuan Qinghe South Street - - - - Sharesissuin
18,418,158.77 748,230.99 (3,401,713.50) - (15,763,589.26) - - 1,087.00
Jin Jiang Inn g
Renovation of Karymay Executive center - - - - Sharesissuin
16,555,746.57 302,717.29 (2,505,441.92) - (14,353,021.94) - - -
Jin Jiang Inn g
Renovation of Hangzhou Binjiang Jianglin Road - - - - Self-financin
15,728,695.97 1,388,368.96 - - - (17,117,064.93) - -
Jin Jiang Inn (Note) g
- - - - Sharesissuin
Renovation of Dunhuang Miaojie Jin Jiang Inn 14,172,478.65 698,708.80 (2,667,239.08) - (12,203,948.37) - - -
g
Other constructions in progress outside of PRC 60,329,147.61 1,154,996.42 15,691,607.21 (36,457,073.83) (924,876.21) - - 3,265,423.47 43,059,224.67 - - -
Other constructions in progress in PRC 22,917,185.27 - 54,892,293.61 (17,626,123.17) (5,640,063.42) (21,856,764.78) (120,246.19) - 32,566,281.32 - - -
Total 671,575,784.78 1,154,996.42 245,398,860.19 (81,552,222.19) (19,405,887.16) (228,604,780.65) (19,772,954.13) 8,623,608.88 577,417,406.14 - - -
Note: During the reporting period, the Group and the lessor rescinded the lease contract of Hangzhou Binjiang Jianglin Road Jin Jiang Inn. As renovation expenses spent by
the Group are RMB 17,117,064.93, the lost suffered by the Group is recognized as RMB 3,647,693.45 after deducting the compensation paid by the lessor.
(3) No provision for impairment of construction in progress was made during the reporting period.
- 104 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
13.Intangible assets
RMB
Beneficial Right Patent, relevant
Trademark and
Item Land use rights of Long-term Membership rights and Total
brand(Note)
leases software
I. Original carrying amount
1.31 December 2016 366,605,118.73 352,901,080.14 5,875,440,100.86 335,600,000.00 1,009,426,969.13 7,939,973,268.86
2.Addition
(1)Purchase - - - - 2,133,957.06 2,133,957.06
(2) Transfer from -
- - - 19,405,887.16 19,405,887.16
construction in progress
3.Deduction
(1) Disposal - - - - (63,455.10) (63,455.10)
4. Translation differences -
of financial statements
2,911,027.56 130,370,396.80 - 19,707,895.94 152,989,320.30
denominated in foreign
currency
5.30 June 2017 366,605,118.73 355,812,107.70 6,005,810,497.66 335,600,000.00 1,050,611,254.19 8,114,438,978.28
II. Accumulated amortization
1.31 December 2016 81,592,946.78 103,333,683.98 132,647.36 12,575,000.00 401,669,710.94 599,303,989.06
2.Addition
(1)Provision 4,515,133.26 19,084,066.33 17,594.94 8,389,999.98 69,099,541.77 101,106,336.28
3.Deduction
(1) Disposal - - - - (25,711.42) (25,711.42)
4. Translation differences
of financial statements
- 197,118.65 - - 15,344,504.54 15,541,623.19
denominated in foreign
currency
5.30 June 2017 86,108,080.04 122,614,868.96 150,242.30 20,964,999.98 486,088,045.83 715,926,237.11
III. Provision for impairment
losses
1.31 December 2016 - - - - - -
2.Addition - - - - - -
3.Deduction - - - - - -
4.30 June 2017 - - - - - -
IV. Book Value
1.30 June 2017 280,497,038.69 233,197,238.74 6,005,660,255.36 314,635,000.02 564,523,208.36 7,398,512,741.17
2.31 December 2016 285,012,171.95 249,567,396.16 5,875,307,453.50 323,025,000.00 607,757,258.19 7,340,669,279.80
Note: The Group believes that the utilization of the trademarks and brands (except Longevity Village) will
bring projected economic benefit inflow to the Group in the foreseeable future, so the useful life is
infinite.
14.Goodwill
(1) Original carrying amount of goodwill
RMB
Translation
differences of
Name of the investee or entities causing
31 December 2016 Addition financial statements 30 June 2017
deriving goodwill
denominated in
foreign currency
Keystone 5,766,874,767.03 - - 5,766,874,767.03
Vienna and Longevity Village 668,816,710.56 - - 668,816,710.56
GDL(Note) 4,386,896,065.70 182,928,082.58 273,051,260.46 4,842,875,408.74
Shanxi Goldmet Inn Management Co., Ltd.
40,171,417.85 - - 40,171,417.85
("Goldmet Inn")
Smartel 51,785,803.21 - - 51,785,803.21
Shenzhen Duzhihua Inn Management Co., Ltd.
3,740,756.59 - - 3,740,756.59
(“Duzhihua”)
Total 10,918,285,520.94 182,928,082.58 273,051,260.46 11,374,264,863.98
Note: On January 2017, in GDLs business combination of Sarovar Hotels Private Limited(“Sarovar”) not
involving enterprises under common control, the combination costs less the shares of fair value in net
identifiable assets in the acquiree is EUR 24,536,000.00 (equivalent to RMB 182,928,082.58), which is
recognized as goodwill. Details refer to Note VI (1).
- 105 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
14.Goodwill - continued
(2) Provision of goodwill impairment
Translation
differences of
Investee or goodwill matter incurred 31 December 2016 Addition financial statements 30 June 2017
denominated in
foreign currency
Duzhihua 3,740,756.59 - - 3,740,756.59
Allocation of goodwill to asset groups
The Group classified reporting segments based on operation segments. For the purpose of impairment test, the
Group allocate goodwill to five asset groups, including one operation and management segment of overseas
limited hotel services and four other operation and management segments of domestic limited hotel services. On
30 June 2017, carrying amount and impairment allowance for the goodwill allocated to the five asset groups are
as follows:
RMB
Cost Bad debt provision 30 June 2017
Foreign operation and management of limited service
4,842,875,408.74 - 4,842,875,408.74
hotels segment -GDL
Domestic operation and management of limited service
5,766,874,767.03 - 5,766,874,767.03
hotels segment -Keystone
Domestic operation and management of limited service
668,816,710.56 - 668,816,710.56
hotel segment - Vienna and Longevity Village
Domestic operation and management of limited service
40,171,417.85 - 40,171,417.85
hotels segment – Goldmet Inn
Domestic operation and management of limited service
51,785,803.21 - 51,785,803.21
hotels segment – Smartel
Total 11,370,524,107.39 - 11,370,524,107.39
Key assumption and basis for determine the recoverable amount of the above asset group:
A. Asset group: GDL
Recovery amount of asset group GDL is determined at the higher of net balance of fair value deducting disposal
cost and present value of estimated future cash flows.
Key the market development assumptions used for fair value and disposal cost estimation are: in light of
historical result of the asset group and the market development, the estimated average EBITDA times
Key assumptions used in estimating the present value of future cash flows are: historical results of the assets
group, estimated revenue growth rate based on market development and discount rate
Management believes any reasonable change of above assumptions will not lead to carrying amount of GDL
exceeding its recoverable amount.
B. Asset group: Keystone
Recoverable amount of Keystone asset group was determined based on present value of estimate future cash
flows. The recovery amount was determined based on the 2017-2022 financial budget approved by the
management. Key assumption used in the present value of future cash flows are the estimated growth rate and
discount rate of RevPAR based on the previous performance of asset group and the anticipation of the market
development.
Management believes any reasonable change of above assumptions will not lead to carrying amount of
Keystone exceeding its recoverable amount.
- 106 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
14.Goodwill - continued
(2) Provision of goodwill impairment - continued
C. Asset group: Vienna and Longevity Village
Recoverable amount of Vienna and Longevity Village asset group was determined based on present value of
estimate future cash flows. The recovery amount was determined based on the 2017-2022 financial budget
approved by the management Key assumption used in the present value of future cash flows are the estimated
growth rate and discount rate of RevPAR based on the previous performance of asset group and the anticipation
of the market development
Management believes any reasonable change of above assumptions will not lead to carrying amount of Vienna
and Longevity Village exceeding its recoverable amount.
D. Asset group: Smartel
Recoverable amount of Smartel was determined based on net amount between fair value of recoverable amount
and disposal cost. Key assumptions used in fair value and disposal cost are based on estimated disposal price in
light of disposal price of properties with the same category.
Management believes any reasonable change of above assumptions will not lead to carrying amount of Smartel
exceeding its recoverable amount.
E. Asset group: Goldmet Inn
Recoverable amount of Goldmet Inn asset group was determined based on present value of estimate future cash
flows. The recovery amount was determined based on the 2017-2022 financial budget approved by the
management Key assumption used in the present value of future cash flows are: the estimated growth rate and
discount rate of RevPAR based on the previous performance of asset group and the anticipation of the market
development.
Management believes any reasonable change of above assumptions will not lead to carrying amount of Goldmet
Inn exceeding its recoverable amount.
15.Long-term prepaid expenses
RMB
Translation
differences of
Other deduction
Item 31 December 2016 Addition (Note 1) Amortization financial statements 30 June 2017
(Note2)
denominated in
foreign currency
Leasehold improvement of
2,540,582,359.29 145,486,818.34 (247,569,902.31) (31,763,773.19) 5,094,046.08 2,411,829,548.21
fixed assets
Leasehold decoration of fixed
363,227,949.63 91,110,338.34 (55,525,806.53) (587,435.98) - 398,225,045.46
assets
Prepaid rental and others 48,659,066.53 - - (5,564,159.17) - 43,094,907.36
Total 2,952,469,375.45 236,597,156.68 (303,095,708.84) (37,915,368.34) 5,094,046.08 2,853,149,501.03
Note 1: The addition includes amount transferred from construction in progress of RMB 228,604,780.65, and
increase from acquisition of RMB 7,992,376.03.
Note 2: Other deduction includes rent carrying forward from prepaid rental of RMB 5,564,159.17, decrease of
long-term prepaid expenses arising from construction completion of RMB 9,860,686.26, retirement and
disposal of fixed assets of RMB 11,173,340.94 and decrease for impairment of leasehold improvement
of RMB 11,317,181.97.
- 107 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
16.Deferred tax assets/Deferred tax liabilities
(1) Deferred tax assets before offsetting are set below:
RMB
30 June 2017 31 December 2016
Deductible Deductible
Item Deferred tax Deferred tax
temporary temporary
assets assets
differences differences
Employee benefits payable 163,577,423.53 42,942,189.36 170,004,184.60 47,216,462.55
Accrued expense 134,584,627.72 33,646,156.94 30,298,731.28 7,574,682.82
Advances of membership card and
105,479,743.85 26,369,935.97 125,191,447.20 31,293,254.12
deferred revenue on membership points
Operating lease fee 386,200,389.96 96,550,097.53 348,907,837.85 86,526,609.43
Government grants 59,211,664.75 14,802,916.19 17,774,482.58 4,443,618.46
Provision for impairment loss of assets 167,404,010.02 41,851,002.57 157,065,559.56 39,266,388.07
Difference from fixed asset depreciation
15,990,093.56 3,997,523.39 16,490,912.40 4,122,728.10
for tax purpose and accounting purpose
Deductible loss 2,234,349,813.79 618,116,836.16 1,875,288,354.71 623,418,012.43
Capitalized expenses 269,340.36 67,335.09 278,701.32 69,675.33
Others 45,017,515.21 11,470,781.21 47,176,735.51 12,374,147.45
Total 3,312,084,622.75 889,814,774.41 2,788,476,947.01 856,305,578.76
(2) Deferred tax liabilities before offsetting are set below:
RMB
30 June 2017 31 December 2016
Taxable Taxable
Item Deferred tax Deferred tax
temporary temporary
liabilities liabilities
differences differences
Changes in fair value of
available-for-sale financial assets
517,761,686.76 129,440,421.69 656,719,052.52 164,179,763.16
recognized in other comprehensive
income
Adjustment of fair value of assets
derived from business combination
8,845,135,263.05 2,450,930,148.64 8,880,856,265.22 2,564,074,218.10
involving enterprises not under common
control
Financing lease fee 102,612,201.16 28,731,416.33 86,123,848.78 29,652,441.13
Difference from fixed asset depreciation
132,766,774.64 37,174,696.90 112,607,239.15 38,770,672.44
for tax purpose and accounting purpose
Others 119,712,076.32 33,508,176.90 71,313,936.43 24,518,169.02
Total 9,717,988,001.93 2,679,784,860.46 9,807,620,342.10 2,821,195,263.85
(3) Deferred tax assets or liabilities after offsetting are set below:
RMB
30 June 2017 31 December 2016
Offsetting Offsetting
Deferred tax Deferred tax
between deferred between deferred
Item assets or Deferred assets or Deferred
tax assets and tax assets and
tax liabilities after tax liabilities after
deferred tax deferred tax
offsetting offsetting
liabilities liabilities
Deferred tax assets 271,551,102.10 618,263,672.31 306,581,418.36 549,724,160.40
Deferred tax liabilities 271,551,102.10 2,408,233,758.36 306,581,418.36 2,514,613,845.49
(4) Details of unrecognized deferred tax assets:
RMB
Item 30 June 2017 31 December 2016
Deductible losses 848,549,613.55 765,450,628.76
Deductible temporary differences 66,809,304.64 37,256,471.45
Total 915,358,918.19 802,707,100.21
- 108 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
16. Deferred tax assets/Deferred tax liabilities - continued
(5) Deductible losses where no deferred tax assets is recognized will expire as follows:
RMB
30 June 2017 31 December 2016
2017 88,236,613.75 103,793,972.28
2018 76,920,202.15 74,364,124.43
2019 158,856,966.32 158,042,293.91
2020 216,318,510.12 212,118,702.48
2021 and subsequent years 308,217,321.21 217,131,535.66
Total 848,549,613.55 765,450,628.76
17. Other non-current assets
RMB
Item 30 June 2017 31 December 2016
Pledged deposits due after one year(Note V 28) - 3,306,492,000.00
Interest receivable from pledged deposits due after one - 224,510,806.80
Rental for use of underground buildings
year 48,900,286.37 49,634,933.56
Entrusted Loan (note) 9,050,000.00 10,420,000.00
Deposits and guarantees 33,690,888.86 33,553,018.29
Others 646,341.88 634,355.95
Total 92,287,517.11 3,625,245,114.60
Less: Other non-current assets due within one year 9,247,960.85 9,000,000.00
Other non-current assets due after one year 83,039,556.26 3,616,245,114.60
Note: It is the entrusted loans from Hotel Investment to Shanghai Xinjin Hotel Management Co., Ltd. through
Finance Company amounting to RMB 9,000,000.00 and entrusted loans from Keystone to franchised
hotels amounting to RMB 50,000.00.
18. Provision for impairment loss of assets
RMB
Translation
differences of
Item 31 December 2016 Addition Reversal Written-off financial statements 30 June 2017
denominated in
foreign currency
I. Provision for bad debt 180,904,127.19 15,333,351.39 (17,730,509.37) (1,088,287.39) 6,360,499.21 183,779,181.03
II. Provision for impairment loss of
2,746,711.33 302,411.46 - (79,073.28) 123,501.04 3,093,550.55
inventories
III. Impairment provision for other
5,543,803.80 - - - - 5,543,803.80
current assets
IV. Provision for impairment loss of
3,793,074.19 - - - 214,714.13 4,007,788.32
available- for-sale financial assets
V. Provision for impairment loss of
- - - - - -
held-to- maturity financial assets
VI. Provision for impairment loss of
4,859,078.00 - - - - 4,859,078.00
long-term equity investments
VII. Provision for impairment loss of
- - - - - -
investment property
VIII. Provision for impairment loss of
104,404.20 4,544,950.79 - - - 4,649,354.99
fixed Assets
IX. Provision for impairment loss of
- - - - - -
construction materials
X. Provision for impairment loss of
2,680,420.00 - - - - 2,680,420.00
construction in progress
XI. Provision for impairment loss of - - - - -
-
capitalized biological assets
XII. Provision for impairment loss of - - - - -
-
oil and gas assets
XIII. Provision for impairment loss of - - - - -
-
intangible assets
XIV. Provision for impairment loss of
3,740,756.59 - - - - 3,740,756.59
goodwill
XV. Provision for impairment loss of - - -
32,770,526.05 11,317,181.97 44,087,708.02
long-term prepaid expenses
XVI. Impairment provision for other - - - -
3,377,056.74 3,377,056.74
non-current assets
XVII. Others - - - - - -
Total 240,519,958.09 31,497,895.61 (17,730,509.37) (1,167,360.67) 6,698,714.38 259,818,698.04
- 109 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
19.Short-term borrowings
Short-term borrowings by category:
RMB
Item 30 June 2017 31 December 2016
Credit borrowings - bank (Note1) 953,177,065.36 2,407,927,127.66
Credit borrowings - other financial institution (Note2) 6,000,000.00 800,000,000.00
Pledged borrowings - 920,000,000.00
Total(Note3) 959,177,065.36 4,127,927,127.66
Note1: At the end of the reporting period, the Group received one year short-term borrowings of
RMB430,000,000.00 from Bund Branch of China Merchants Bank, RMB300,000,000.00 from Bank of
Shanghai Xuhui Branch, and RMB200,000,000.00 from SRCB respectively, with all annual interest rate
of 3.915%.
Note 2: At the end of the reporting period, the short-term borrowings of the Group from Finance Company
amounted to RMB 600,000,000.00 with annual interest rate of 3.915%, mature in one year.
Note 3: At the end of the reporting period, the Groups balance of short-term borrowings includes a borrowing
of RMB 23,177,065.36 carrying at floating interest rate.
20.Accounts payable
Details of accounts payable are as follows:
RMB
Item 30 June 2017 31 December 2016
Payables for operation 1,472,725,038.99 1,453,997,150.05
Payables for constructions 483,759,160.44 599,699,541.88
Total 1,956,484,199.43 2,053,696,691.93
21.Advances from customers
Details of advances from customers are as follows:
RMB
Item 30 June 2017 31 December 2016
Membership card and stored value card receipts in
229,217,110.47 220,936,506.41
advance
Advance for franchise 224,786,522.54 162,926,445.83
Advances for room fee and dining 128,374,386.22 122,703,145.39
Purchase amount received in advance 110,798,125.37 145,073,093.96
Others 24,823,570.98 23,503,442.07
Total 717,999,715.58 675,142,633.66
- 110 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
22.Employee benefits payable
(1) List of employee benefits payable
RMB
Item 31 December 2016 Addition Deduction 30 June 2017
1. Short-term benefits 585,038,619.22 1,927,284,943.90 (1,862,283,530.30) 650,040,032.82
2. Domestic post-employment
66,643,387.61 92,897,915.52 (81,736,008.38) 77,805,294.75
benefits-defined contribution plan
3. Termination benefits 18,031,088.44 13,393,539.91 (4,781,602.13) 26,643,026.22
Total 669,713,095.27 2,033,576,399.33 (1,948,801,140.81) 754,488,353.79
(2) List of short-term employee benefits payable
RMB
Item 31 December 2016 Addition Deduction 30 June 2017
I. Wages or salaries, bonus,
439,833,611.08 1,602,550,740.38 (1,557,371,801.48) 485,012,549.98
allowance, subsidies
II. Staff welfare 37,860.11 70,802,819.73 (70,664,930.65) 175,749.19
III. Domestic social insurance 25,892,371.47 42,203,459.35 (40,515,453.24) 27,580,377.58
Including: Medical insurance 21,612,454.09 36,508,525.95 (35,329,833.29) 22,791,146.75
Work injury insurance 1,364,361.47 1,944,154.17 (1,832,692.82) 1,475,822.82
Maternity insurance 2,915,555.91 3,750,779.23 (3,352,927.13) 3,313,408.01
IV. Domestic housing fund 35,833,463.20 49,743,439.67 (45,564,057.75) 40,012,845.12
V. Overseas social insurance 81,134,932.25 154,814,971.74 (141,395,663.20) 94,554,240.79
VI. Labor union and education fund 2,297,613.29 7,031,513.03 (6,633,623.98) 2,695,502.34
VII. Others 8,767.82 138,000.00 (138,000.00) 8,767.82
Total 585,038,619.22 1,927,284,943.90 (1,862,283,530.30) 650,040,032.82
(3) Domestic post-employment benefits-defined contribution plan
RMB
Item 31 December 2016 Addition Deduction 30 June 2017
1. Pension insurance 61,266,056.55 89,017,080.98 (77,915,465.14) 72,367,672.39
2.Unemployment insurance 5,377,331.06 3,880,834.54 (3,820,543.24) 5,437,622.36
Total 66,643,387.61 92,897,915.52 (81,736,008.38) 77,805,294.75
The Company and its domestic subsidiaries follows policies to join in pension insurance and unemployment
insurance plans which are established by government. According to these plans, the Group follows specific rates
of monthly average salaries last year to deposit payments for these plans monthly. Except for the monthly fee
deposit mentioned above, the Group and its domestic subsidiaries assume no further payment obligations.
Corresponding expenses are expensed into current period P&L or incurred as costs of related assets.
The Company and its domestic subsidiaries shall contribute RMB 89,017,080.98 and RMB 3,880,834.54 to
pension insurance and unemployment insurance plan respectively in this reporting period. At the end of the
reporting period, the Group still has outstanding contribution of RMB 72,367,672.39 and RMB 5,437,622.36 for
pension insurance and unemployment insurance respectively.
- 111 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
23.Taxes payable
RMB
Item 30 June 2017 31 December 2016
Value added tax 96,539,981.40 78,417,461.20
Enterprise Income tax 195,995,200.10 183,658,710.20
Property tax 6,856,957.51 7,105,527.09
Other domestic tax 22,229,896.86 25,499,277.40
Other foreign tax 70,419,697.33 35,257,674.41
Total 392,041,733.20 329,938,650.30
24.Interest payable
RMB
Item 30 June 2017 31 December 2016
Interest payable for long-term borrowings 23,174,273.54 44,184,472.29
Interest payable for short-term borrowings 1,081,090.28 4,680,865.29
Total 24,255,363.82 48,865,337.58
25.Dividends payable
RMB
Name of entity 30 June 2017 31 December 2016
Dividends payable due to A share shareholders 463,047.45 429,303.93
Dividends payable due to minority interests
1,733,120.00 -
Total 2,196,167.45 429,303.93
26.Other payables
(1) Details of other payables are as follows:
RMB
Item 30 June 2017 31 December 2016
Agency fund 676,816,143.25 442,201,772.12
Down payments and deposits 152,547,331.26 125,281,374.31
Accrued expenses 169,079,339.72 138,294,085.33
Accrued taxes for replacement of significant assets and
58,623,448.29 58,623,448.29
attached transactions
Deposit for construction 21,772,921.71 26,774,517.30
Payment for Project Cooperation 30,000,000.00 30,000,000.00
Outstanding payment of subsidiary acquisition - 177,846,186.00
Accrued commission for equity acquisition 9,181,243.88 10,655,224.85
Litigation fees payable 1,370,501.23 1,370,501.23
Accounts payable for the equity interest transfer of
9,796,303.25 9,796,303.25
Smartel
Others 67,490,643.21 58,000,846.24
Total 1,196,677,875.80 1,078,844,258.92
- 112 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
26.Other payables - continued
(2) Explanations of other payables aging over 1 year with significant amount
At the end of the reporting period, other payables aging over 1 year with significant amount include:
The accrual amount of significant replacement and related transactions payment and involved taxation is
RMB 58,623,448.29 that should be paid by the Company after the report and verification of the involved
taxation.
The Groups subsidiary Keystone shall pay the rest project cooperation amounting to RMB 30,000,000.00,
which arises from amount received by Keystone in 2013 from third party for cooperated property
development project. At the end of this reporting period, the cooperated project was not launched yet, hence
the amount would be used for cooperated project expenditures in the future.
The Company has to pay RMB 9,796,303.25which is the amount of equity transfer to Smartel. This amount
of equity transfer is treated as deposit of transaction and will be paid after getting over of Smartels flawed
business.
(3) Except for item (2), other payables of the Group mainly include accrues lease expenses, collection charge
on behalf of others, down payments and deposits, etc., which are related to daily operation.
27.Non-current liabilities due within one year
(1) Details of non-current liabilities due within one year are as follows:
RMB
Item 30 June 2017 31 December 2016
Long-term borrowings due within one year 6,260,518,854.58 3,059,673,015.51
Long-term payables due within one year 10,067,993.59 9,423,562.05
Other non-current liabilities due within one year 6,102,750.00 6,102,750.00
Total 6,276,689,598.17 3,075,199,327.56
(2) Please refer to Note (V) 28 for the details of long-term borrowings due within one year.
(3) Please refer to Note (V) 29 for the details of long-term payables due within one year.
(4) Please refer to Note (V) 32 for the details of other non-current liabilities due within one year.
28.Long-term borrowings
RMB
Item 30 June 2017 31 December 2016
Pledged borrowings(Note 1) 10,916,984,353.00 14,343,308,220.11
Mortgage loan (Note 2) 77,456,161.09 73,687,460.99
Credit borrowing(Note 3) 8,185,903,863.87 3,533,647,864.94
Guaranteed deposit (Note 4) 30,000,000.00 40,000,000.00
Entrusted loans (Note 5) 4,500,000.00 4,500,000.00
Total (Note 6) 19,214,844,377.96 17,995,143,546.04
Less: Long-term loan due within one year 6,260,518,854.58 3,059,673,015.51
Long-term loan due after one year 12,954,325,523.38 14,935,470,530.53
- 113 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
28.Long-term borrowings - continued
Note 1: As at end of the reporting period, the Groups subsidiary, Sailing Investment, borrowed a total amount
of EUR 773,844,373.00 (equivalent to RMB 5,996,984,353.00) from Industrial & Commercial Bank of
China. Such borrowing was pledged by time deposit of RMB 3,306,492,000.00 and ownership of
Sailing Investment, and was guaranteed by Jin Jiang International. The tenure of the borrowing is from
19 May 2015 to 18 May 2018. The annual interest rate is floating, and weighted average interest rate is
1.10%.
As at end of the reporting period, the Group obtained borrowing of RMB 4,920,000,000.00 from
Export-Import Bank of China, of which RMB220,000,000.00 would be due within one year. Such
borrowing was pledged by 81.0034% equity of Keystone. The tenure of the borrowing is from 18
February 2016 to 18 February 2022. The annual interest rate is floating, and weighted average interest
rate is 3.25%.
Note 2: As at end of the reporting period, the subsidiary of the Group obtained borrowing of PLN (equivalent
to RMB 77,456,161.08) from overseas banks, of which RMB 8,203,237.96 would be due within one
year. The relevant subsidiaries pledged their fixed assets for collateral. The maturity date of the
borrowing is 31 March 2023, and annual interest rate is the three-month interest rate of Poland Inter
Bank Offered Rate plus 2.70 percentage.
Note 3: As at the end of this reporting period, the Group received borrowings of RMB 1,900,000,000.00 from
Shanghai Pudong Branch of China Construction Bank; RMB 500,000,000.00 from SRCB and RMB
600,000,000.00 from Bank of China, carried floating interest rate from 3.895% to 4.275% within the
reporting period.
As at the end of this reporting period, the Groups subsidiary, Keystone, received borrowing of RMB
280,000,000.00 from Industrial and Commercial Bank of China and RMB 920,000,000.00 from Zhabei
Branch of Shanghai Pudong Development Bank respectively, carried floating interest of 4.275% within
the reporting period.
As at the end of this reporting period, the Groups oversea subsidiaries obtained borrowings equivalent
RMB 87,103,863.87 from overseas bank, of which RMB 831,263.62 is due within one year.
As at end of the reporting period, the Groups subsidiary, Sailing Investment, borrowed a total amount
of EUR 500,000,000.00 (equivalent to RMB 3,874,800,000.00) from its related party Master Melon
Capital. The tenure of the borrowing is from 15 May 2017 to 10 May 2022 and the annual interest rate
is 1.08%.
As at the end of this reporting period, the Group received borrowings of RMB 24,000,000.00 from the
Finance Company with annual interest rate of 4.0375%.
Note 4: At the end of this reporting period, the Groups subsidiary Vienna received borrowing of RMB
30,000,000.00 from Shenzhen Futian Branch of Industrial and Commercial Bank of China with tenure
from 18 August 2015 to 3 August 2017, carried at interest rate of 5.10%, which was guaranteed by
minority interest Mr. Huang Deman.
Note 5: As at end of the reporting period, Shenyang Jinfu Hotel Investment Management Co., Ltd. (a
subsidiary of Hotel Investment) obtained borrowings of RMB 4,500,000.00 from Shenyang Nonstaple
Food Group with tenure from 30 December 2014 to 29 December 2017 and annual interest rate of
1.2%.
Note 6: It includes borrowing of RMB 15,303,339,385.31 which carries at floating interest rate.
- 114 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
29.Long-term payables
(1) Nature of long-term payables are as follows:
RMB
Item 30 June 2017 31 December 2016
Finance lease payable 151,133,141.43 145,489,082.70
Others 30,998.40 21,920.40
Total 151,164,139.83 145,511,003.10
(2) Details of long-term financial lease payables are as follows:
RMB
30 June 2017 31 December 2016
1st year subsequent to the balance sheet day 11,222,842.86 10,548,384.19
2nd year subsequent to the balance sheet day 11,280,964.47 10,608,469.69
3rd year subsequent to the balance sheet day 11,522,151.39 10,838,945.67
Subsequent periods 180,102,758.81 171,076,490.69
Total minimum lease payment 214,128,717.53 203,072,290.24
Less: Unrecognized financing costs 52,927,582.51 48,159,645.49
Financial lease payables (Note) 161,201,135.02 154,912,644.75
Including: due within one year 10,067,993.59 9,423,562.05
due after one year 151,133,141.43 145,489,082.70
There is no guarantee from third party for the Groups finance lease.
Note: Financial lease payables of RMB156,394,677.60 is carried at floating interest rate, of which RMB
121,459,480.80 is with interest rate swap agreement. Details are set out in Note V 51.
30. Long-term employee benefits payable
(1) Long-term employee benefits payable
RMB
Item 30 June 2017 31 December 2016
Post-employment benefits – Net liabilities derived
57,686,524.56 49,009,564.56
from defined benefit plan (Note)
Total 57,686,524.56 49,009,564.56
Note: It is determined by GDL on the basis of the geographical location, industry, and salary agreement, length
of service and salary levels of employees.
- 115 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
30. Long-term employee benefits payable - continued
(2) Movement in defined benefit plan
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
I. Opening balance 49,009,564.56 161,863,492.93
II. Increase in acquisition of subsidiary - -
III. Defined benefit costs recognized in profit
3,452,806.92 2,382,446.51
and loss for the current period
1. Current service cost 3,081,811.32 1,943,765.34
2. Net interest 370,995.60 438,681.17
IV. Other defined benefit costs recognized in
- 6,824,578.00
other comprehensive income
1. Actuarial loss - 6,824,578.00
V. Other changes 2,037,245.93 (2,060,389.29)
1. Consideration paid at the settlement (1,000,337.14) (2,060,389.29)
2. Increase from consolidation 3,037,583.07 -
VI. Translation differences arising on translation of
3,186,907.15 6,495,409.23
financial statements denominated in foreign currencies
VII. Closing balance 57,686,524.56 175,505,537.38
Introduction to the defined benefit plan and its risk and its influence on the GDLs future cash flow, time and
uncertainty.
The defined benefit plan renders GDL faced with actuarial risks encompassing interest rate risk, life expectancy
risk and inflation risk. Yield rate of government bonds reduces, leading to an increase in the present value of
liabilities arising from the defined benefit plan. The present value of liabilities arising from the defined benefit
plan is based on the best evaluation of mortality of participants whose life extension would lead to an increase
in the planned liabilities. In addition, the present value of liabilities arising from the defined benefit plan is
correlated to the standard of future payment which is determined by inflation rate, and therefore the increase of
inflation rate will result in an increase in the planned liabilities.
GDL invites SPAC, an actuarial service provider, to evaluate the present value of aforementioned
post-employment benefit plan by adopting the expected cumulative welfare unit method. According to the plan,
inflation rate and mortality are taken into account to assume the future cash outflow, and the present value is
determined by the discount rate. Furthermore, the discount rate is calculated based on the yield rate of
high-quality corporate bonds, which match the term and currency of the defined benefit plan on the balance
sheet date, in an active market. GDL invites SPAC, an actuarial service provider, to evaluate the present value of
aforementioned post-recognized the liabilities according to the actuarial results, and the relevant actuarial gain
and loss are recognized in other comprehensive income (reversal to profit and loss in the subsequent accounting
periods is prohibited). The past service cost is recognized in profit and loss for the current period while the plan
is revised. Net interest is calculated by multiplying net liabilities or assets arising from defined benefit plan by
an appropriate discount rate.
Significant actuarial assumptions encompassing discount rate, inflation rate and mortality are utilized to
determine the present value of liabilities arising from the defined benefit plan. During the financial reporting
period, the discount rate and the inflation rate are both 1.75% .The mortality is determined by assuming the life
expectancy since retirement of male employees aged 65 and female employees aged 60. In this reporting period,
the expectancy is respectively 23.1 years for male and 27.7 for female. The expected increase rate of salaries of
headquarters employees in GDL is 3%. The expected increase rate of salaries of hotel employees is 2.5%. After
retirement, the employees social welfare will be unaffected (ages ranging from 60 to 65; the retiring age
depends on occupation and date of birth). General staff, clerical staff and directors are assumed to start their
careers since the age of 20, 22 and 23.
- 116 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
30. Long-term employee benefits payable - continued
(2) Movement in defined benefit plan - continued
The following sensitivity analysis is based on reasonable changes incurs at end of the reporting period (all of
other assumption remain unchanged):
If the discount rate increases (decreases) by 0.50%, the present value of defined benefit plan will be
decreased by RMB 4,095,952.43 (increased by RMB3, 696,956.30).
If the inflation rate increases (decreases) by 0.50%, the present value of defined benefits plan will be
increased by RMB 112,458.41 (decreased by RMB120, 587.45).
If the expected growth rate of salary increases (decreases) by 0.50%, the present value of defined
benefit plan obligation will be increased by RMB 3,508,220.60 (decreased by RMB 3,848,314.99).
As some assumption may be correlative, and one assumption cannot be changed in isolation, so the above
sensitivity analysis may not reflect the actual movement in present value of defined benefits plan.
The calculation method for defined benefits plan liabilities in the above sensitivity analysis is identical with that
in balance sheet.
The method and assumption for sensitivity analysis remain unchanged comparing with prior year.
31.Provisions
RMB
Item 30 June 2017 31 December 2016
Pending litigation (Note1) 18,574,671.14 14,015,497.53
Provision for compensation(Note2) 13,865,518.37 35,906,380.22
Total 32,440,189.51 49,921,877.75
Note1: As at the end of this reporting period, GDL was faced with charges against labor disputes. Therefore,
GDL management made a provision of EUR 1,214,780.01, equipment to RMB 9,414,059.17, based on
estimation on the possible verdict.
As at the end of this reporting period, the Groups subsidiary Keystone was accused for service fees of
housing lease platform and other events. Therefore, Keystone management made a provision of RMB
9,160,611.97 based on estimation on the possible verdict. Due to the aforementioned lawsuit,
Keystones bank deposit of RMB 3,642,515.06 was frozen.
Note2: It is mainly the claim compensation estimated for disputes faced with the third party.
32.Other non-current liabilities
RMB
Item 30 June 2017 31 December 2016
Government grant 59,211,664.75 17,774,482.58
Membership credit 46,577,470.72 46,338,278.36
Marketing fund(Note 1) 42,707,473.29 43,361,397.78
Loss of long-term lease(Note 2) 13,564,515.22 14,872,973.76
Others 4,405,717.35 1,382,265.94
Total 166,466,841.33 123,729,398.42
Less: non-current liabilities due within one year 6,102,750.00 6,102,750.00
non-current liabilities due after one year 160,364,091.33 117,626,648.42
Note 1: Marketing fund is the branding services fees charged from franchise hotels by GDL, which is used for
branding promotion activities in the future.
- 117 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
32. Other non-current liabilities - continued
Note 2: The loss of long-term lease mainly arises from the present value exceeding fair value at the acquisition
date in the non-cancellable lease contracts entered into by Keystone in light of assessment conducted
upon the acquisition of Keystone. The loss of long-term lease is amortized over the remaining period of
lease contract
Project involving in government grants:
RMB
Amount recognized Related to
Item 31 December 2016 Additions 30 June 2017
in other income asset/income
Information platform funds 7,800,000.00 - 1,950,000.00 5,850,000.00 Relatedtoassets
Xincheng Hotel project funds 5,127,648.72 - 342,650.00 4,784,998.72 Relatedtoassets
Smartel project funds 3,260,000.00 - 510,000.00 2,750,000.00 Relatedtoassets
Jin Jiang Metropolo brand
1,472,167.19 - 752,167.19 720,000.00 Relatedtoincome
promotion funds
Subsidy for relocation of Suzhou
Relatedtoassets/in
Amusement Land Jin Jiang - 45,000,000.00 - 45,000,000.00
come
Inn(Note)
Others 114,666.67 - 8,000.64 106,666.03 Relatedtoassets
Total 17,774,482.58 45,000,000.00 3,562,817.83 59,211,664.75
Note: In the reporting period, the Group has received RMB 45,000,000.00 from Shishan Sub-district Office
of Suzhou High-tech Zone.
33.Share capital
RMB
Changes for the period
Capitalization
Non-public issue
31 December Bonus issue of surplus Others Sub-total
of new shares
2016 reserve 30 June 2017
I. Restricted tradable
shares
1 State-owned shares - - - - - - -
2. State-owned legal
219,125,242.00 219,125,242.00
person shares - - - - -
3. Other domestic shares 15,244,482.00 - - - - - 15,244,482.00
4. Other foreign shares 120,325,976.00 - - - - - 120,325,976.00
Total restricted tradable
354,695,700.00 354,695,700.00
shares - - - - -
II. Tradable shares
1. Ordinary shares
447,240,740.00 447,240,740.00
denominated in RMB - - - - -
2. Foreign capital shares
156,000,000.00 156,000,000.00
listed domestically - - - - -
3. Foreign capital shares
- -
listed overseas - - - - -
4. Others - - - - - - -
Total tradable shares 603,240,740.00 - - - - - 603,240,740.00
III. Total shares 957,936,440.00 - - - - - 957,936,440.00
- 118 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
33.Share capital - continued
RMB
Change for the period
Capitalization
Non-public issue
31 December Bonus issue of surplus Others Sub-total
of new shares
2015 reserve 30 June 2016
I. Restricted tradable
shares
1 State-owned shares - - - - - - -
2. State-owned legal
person shares 101,277,000.00 - - - - - 101,277,000.00
3. Other domestic shares - - - - - - -
4. Other foreign shares 100,000,000.00 - - - - - 100,000,000.00
Total restricted tradable
shares 201,277,000.00 - - - - - 201,277,000.00
II. Tradable shares
1. Ordinary shares
denominated in RMB 447,240,740.00 - - - - - 447,240,740.00
2. Foreign capital shares
listed domestically 156,000,000.00 - - - - - 156,000,000.00
3. Foreign capital shares
listed overseas - - - - - - -
4. Others - - - - - - -
Total tradable shares 603,240,740.00 - - - - - 603,240,740.00
III. Total shares 804,517,740.00 - - - - - 804,517,740.00
34. Capital reserve
RMB
Item 31 December 2016 Addition Deduction 30 June 2017
Share premium 8,681,361,436.76 - - 8,681,361,436.76
Including: Capital injected by investors 7,785,762,028.07 - - 7,785,762,028.07
Differences derived from business - -
combination involving enterprises under 1,027,136,210.91 1,027,136,210.91
common control
Equity transactions with non-controlling - -
(131,536,802.22) (131,536,802.22)
interests
Other capital reserve 163,502,812.00 - (34,601,168.38) 128,901,643.62
Including: Transfer from capital reserve under
163,502,812.00 - - 163,502,812.00
the previous accounting system
Other changes in owners equity of the
investees excluding net profit or loss,
- - (34,601,168.38) (34,601,168.38)
other comprehensive income and profit
distribution
Total 8,844,864,248.76 - (34,601,168.38) 8,810,263,080.38
RMB
31 December
Item Addition Deduction 30 June 2016
2015
Share premium 4,318,594,736.95 - - 4,318,594,736.95
Including: Capital injected by investors 3,432,896,828.00 - - 3,432,896,828.00
Differences derived from business
combination involving enterprises under 1,027,136,210.91 - - 1,027,136,210.91
common control
Equity transactions with non-controlling
(141,438,301.96) - - (141,438,301.96)
interests
Other capital reserve 163,502,812.00 - - 163,502,812.00
Including: Transfer from capital reserve under
163,502,812.00 - - 163,502,812.00
the previous accounting system
Total 4,482,097,548.95 - - 4,482,097,548.95
- 119 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
35.Other comprehensive income
RMB
Amount incurred in the period
Less: previously
recognized as
other Amount Amount
Item 31 December 2016 Amount before comprehensive Less: income tax Attributable to Attributable to 30 June 2017
income tax income and expenses owners of the parent shareholders of the
transferred to the after tax minority after tax
profit or loss in the
current period
I Other comprehensive income that will not be
reclassified subsequently to profit or loss
Including: changes as a result of
premeasurement of the net defined benefit plan (3,732,448.14) - - - - - (3,732,448.14)
liability or asset
II Other comprehensive income that will be
reclassified subsequently to profit or loss
Including: Profit or loss arising from changes in
611,354,343.63 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) - 507,136,319.30
fair value of available-for-sale financial assets
Shares of investee in other comprehensive
income that will be reclassified subsequently to 3,500,343.96 186,422.60 - - 186,422.60 - 3,686,766.56
profit or loss under equity method
Effective proportion of profit or loss of cash
740,086.48 1,278,785.41 - 449,188.41 829,597.00 - 1,569,683.48
flow hedging
Translation differences of financial statements
(10,603,035.07) 60,017,903.23 - - 50,359,415.41 9,658,487.82 39,756,380.34
denominated in foreign currency
Total 601,259,290.86 12,800,951.33 90,275,205.85 (34,290,153.02) (52,842,589.32) 9,658,487.82 548,416,701.54
RMB
Amount incurred in the period
Less: previously
recognized as
other Amount Amount
Item 31 December 2015 Amount before comprehensive Less: income tax Attributable to Attributable to 30 June 2016
income tax income and expenses owners of the parent shareholders of the
transferred to gain the after tax minority after tax
and loss in the
current period
I Other comprehensive income that will not be
reclassified subsequently to profit or loss
Including: changes as a result of
premeasurement of the net defined benefit plan 587,012.14 (6,824,578.00) - (2,349,702.21) (4,474,875.79) - (3,887,863.65)
liability or asset
II Other comprehensive income that will be
reclassified subsequently to profit or loss
Including: Profit or loss arising from changes in
890,408,124.80 (146,933,456.25) 162,244,213.06 (84,210,023.16) (230,222,566.06) 5,254,919.91 660,185,558.74
fair value of available-for-sale financial assets
Shares of investee in other comprehensive
income that will be reclassified subsequently to 2,830,442.91 - - - - - 2,830,442.91
profit or loss under equity method
Effective proportion of profit or loss of cash
817,758.02 (1,110,917.70) - (382,488.96) (728,428.74) - 89,329.28
flow hedging
Translation differences of financial statements
13,828,808.29 (4,020,037.49) - - (9,692,298.99) 5,672,261.50 4,136,509.30
denominated in foreign currency
Total 908,472,146.16 (158,888,989.44) 162,244,213.06 (86,942,214.33) (245,118,169.58) 10,927,181.41 663,353,976.58
36.Surplus reserve
RMB
Item 31 December 2016 Addition Deduction 30 June 2017
Statutory surplus reserve 439,717,647.39 - - 439,717,647.39
Discretionary surplus reserve 180,681,288.50 - - 180,681,288.50
Total 620,398,935.89 - - 620,398,935.89
RMB
Item 31 December 2015 Addition Deduction 30 June 2016
Statutory surplus reserve 398,582,375.60 - - 398,582,375.60
Discretionary surplus reserve 180,681,288.50 - - 180,681,288.50
Total 579,263,664.10 - - 579,263,664.10
Pursuant to the PRC Company Law and Article of Association, the Company appropriates 10% of net profit for
the year as statutory surplus reserve. When the balance of such reserve reaches 50% of the Companys
registered share capital, any further appropriation is optional. The statutory surplus reserve can be utilized to
offset prior years losses or capitalized into share capital upon approval. The discretionary surplus reserve fund
can be utilized to offset prior years losses or capitalized into share capital upon approval.
- 120 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
37.Retained profits
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Opening balance of retained profits 1,776,723,536.56 1,509,447,901.74
Add: Net profit for attributable to owners of
412,453,689.41 299,157,333.01
the parent for the period
Less: Appropriation to statutory surplus reserve - -
Appropriation to discretionary surplus reserve - -
Dividends payable 459,809,491.20 386,168,515.20
Ordinary shares dividends converted into share capital - -
Closing balance of retained profits 1,729,367,734.77 1,422,436,719.55
38.Operating income and operating costs
(1) Operating income and operating costs
RMB
For the period from 1 January 2017 to For the period from 1 January 2016 to
Item 30 June 2017 30 June 2016
Income Costs Income Costs
Principal business 6,288,923,255.28 603,744,233.37 4,368,066,454.15 434,086,030.02
Other business 89,895.25 30,888.06 114,631.11 10,296.02
Total 6,289,013,150.53 603,775,121.43 4,368,181,085.26 434,096,326.04
(2) Principal business by industries:
RMB
2017 For the period from 1 January For the period from 1 January 2016 to
Industry 2017 to 30 June 2017 30 June 2016
Operating income Operating costs Operating income Operating costs
Operation and management
6,164,205,495.77 544,043,536.49 4,247,058,545.83 374,071,062.44
of hotel services
Food and catering 124,717,759.51 59,700,696.88 121,007,908.32 60,014,967.58
Total 6,288,923,255.28 603,744,233.37 4,368,066,454.15 434,086,030.02
(3) Operating income by geographic location
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 January 2016 to 30
June 2017 June 2016
Domestic regions of Mainland China 4,495,089,716.62 2,650,509,160.94
Including: Shanghai 761,640,301.34 712,170,913.85
Regions other than Shanghai 3,733,449,415.28 1,938,338,247.09
Overseas regions 1,793,923,433.91 1,717,671,924.32
Total 6,289,013,150.53 4,368,181,085.26
- 121 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
38. Operating income and operating costs - continued
(4) Operating income and costs of limited service hotels operation and management at home and aboard
RMB
For the period from 1 January 2017 to 30 For the period from 1 January 2016 to 30
Segment June 2017 June 2016
Operating income Operating costs Operating income Operating costs
Rooms 3,553,801,490.05 - 2,638,293,742.78 -
Caterings 546,490,414.70 238,334,307.83 448,449,608.48 194,520,473.85
Commodity sales 310,956,580.86 266,282,638.89 197,486,287.34 165,221,206.93
Management:
Initial fee 223,812,839.49 - 72,142,416.70 -
Management fee 880,103,700.03 - 628,717,518.46 -
Reservation channel fee -
46,112,420.29 25,572,114.14 -
(Note)
Others 304,235,685.90 - 64,882,544.51 -
Subtotal of Management 1,454,264,645.71 - 791,314,593.81 -
Others:
Membership cards 149,523,361.80 - 91,170,234.42 -
Lease of properties 65,175,308.59 31,948,399.94 23,816,938.93 12,163,090.20
Others 83,993,694.06 7,478,189.83 56,527,140.07 2,166,291.46
Subtotal of Others 298,692,364.45 39,426,589.77 171,514,313.42 14,329,381.66
Total 6,164,205,495.77 544,043,536.49 4,247,058,545.83 374,071,062.44
Note: Reservation channel fee is based on the effective number of rooms sold and definite standard which are
from the room reservation sent by central reservation system.
(5) Operating income and costs of catering business
RMB
For the period from 1 January 2017 to For the period from 1 January 2016 to
30 June 2017 30 June 2016
Item Operating income Operating costs Operating income Operating costs
Chain restaurants 44,816,064.24 20,546,364.39 48,195,696.92 21,957,019.47
Groups meal 71,662,190.63 33,172,859.27 64,797,183.04 31,755,419.95
Food sales 6,668,678.05 5,410,303.21 6,344,681.02 5,654,690.25
Others 1,570,826.59 571,170.01 1,670,347.34 647,837.91
Total 124,717,759.51 59,700,696.88 121,007,908.32 60,014,967.58
(6) Details of the revenue from top 5 customers of the Group are as below
RMB
Customer Operating income Ratio (%)
BRAKE FRANCE SERVICES 21,069,820.00 0.34
Shanghai Debi Investment Management Co., Ltd. 18,321,318.54 0.29
BRASSERIE HEINEKEN 4,855,900.00 0.07
NESTLE WATERS 2,915,730.00 0.05
DIVERSEY EUROPE BV 2,906,670.00 0.05
Total 50,069,438.54 0.80
- 122 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
39.Costs and expenses by nature
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 January 2016 to 30
June 2017 June 2016
Cost of goods sold 594,953,074.80 423,833,321.53
Employee benefits 2,022,851,633.20 1,286,180,237.37
Including: Wages or salaries 1,603,587,885.31 992,440,126.57
Social insurance and housing funds 334,419,811.90 238,077,685.79
Welfare and other expenditures 84,843,935.99 55,662,425.01
Energy fees and materials consumption 464,238,640.42 343,144,858.55
Depreciation and amortization 769,139,690.83 571,858,490.25
Rental of operating lease 901,561,794.71 634,463,876.21
Repair and maintenance fee 206,512,831.99 188,106,755.62
Property tax and other levies - 63,961,399.71
Others 788,372,533.89 502,017,732.16
Total operating costs, selling expense and
5,747,630,199.84 4,013,566,671.40
administrative expense
40. Taxes and levies
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Business tax - 68,549,177.40
City maintenance and construction tax 10,696,176.49 8,619,423.99
Education surcharges 6,768,443.21 5,235,435.41
Property tax 86,626,484.22 -
Others 2,524,364.84 993,319.83
Total 106,615,468.76 83,397,356.63
41.Financial expenses
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 January 2016 to 30
June 2017 June 2016
Interest expenses 297,470,093.36 329,075,288.26
Less: Interest expenses capitalized - -
Less: Interest income 120,393,846.73 115,813,629.52
Foreign exchange difference 16,281,198.68 (6,915,815.01)
Less: capitalized foreign exchange difference - -
Others 25,412,152.69 23,172,230.74
Total 218,769,598.00 229,518,074.47
- 123 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
42.Impairment losses of assets
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
I. Impairment loss of bad debt (2,397,157.98) 8,157,885.30
II. Provision (Reversal) of decline in value of inventories 302,411.46 (43,431.60)
III. Impairment loss of available-for-sale financial assets - -
IV. Impairment loss of long-term equity investments - -
V. Impairment loss of investment properties - -
VI. Impairment loss of fixed assets 4,544,950.79 -
VII. Impairment loss of construction in progress - -
VIII. Impairment loss of intangible assets - -
IX. Impairment loss of goodwill - -
X. Impairment loss of long-term prepaid expenses 11,317,181.97 6,395,527.02
Total 13,767,386.24 14,509,980.72
43. Investment income
(1) Details of investment income are as follows:
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Investment income from long-term equity
53,411,404.56 50,550,196.85
investments under equity method
Investment income from available-for-sale
71,478,679.48 73,025,197.50
financial assets
Gains from disposal of available-for-sale
101,583,934.65 206,373,718.01
financial assets
Gains from disposal of subsidiaries 33,507,766.71 -
Others 1,225,277.03 3,055,180.11
Total 261,207,062.43 333,004,292.47
(2) Investment income from long-term equity investment under equity method
RMB
For the period from For the period from 1
Investee 1 January 2017 to 30 January 2016 to 30 Reasons for the changes
June 2017 June 2016
Shanghai Kentucky Fried Chicken Profit increases due to the increase in
56,616,425.56 45,812,247.38
Co., Ltd. operating income
Shanghai New Asia Fulihua Profit increases due to the increase in
3,699,099.74 2,879,467.78
Catering Co., Ltd. operating income
Shanghai Xinlu Catering The profit for the current period is at par
133,721.14 129,449.49
Development Co., Ltd. with prior period
Shanghai Qicheng Network It is invested and established in the current
(8,296,229.33) -
Technology Co., Ltd. period
Deficit is covered and profit is earned due
Shanghai Yoshinoya Co., Ltd. 9,393.06 (294,939.10)
to the increase of operating income
Costs of long-term equity investments has
Shanghai Jing An Bakery Co., Ltd. - (739,096.38)
been decreased to nil
Shanghai Xinjin Hotel Profit increases due to the increase of
403,535.29 47,805.85
Management Co., Ltd. operating income
Loss decreases due to the increase of
Keystones associate (969,053.85) (1,392,520.73)
operating income
GDLs associate 1,814,512.95 4,107,782.56 Profit decreases due to the raise in costs
Total 53,411,404.56 50,550,196.85
- 124 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
43. Investment income - continued
(3) Investment income from available-for-sale financial assets
RMB
For the period from 1 For the period from 1
Investee January 2017 to 30 January 2016 to 30 Reasons for the changes
June 2017 June 2016
Hangzhou Kentucky Fried
38,964,078.50 29,157,567.86 Dividend declared increased
Chicken Co., Ltd.
Chang Jiang Security Co., Ltd. 7,950,000.00 26,600,000.00 Dividend declared decreased
Suzhou Kentucky Fried Chicken
15,461,142.53 10,780,761.00 Dividend declared increased
Co., Ltd.
Wuxi Kentucky Fried Chicken
7,125,239.26 4,691,549.98 Dividend declared increased
Co., Ltd.
Shenwan Hongyuan Securities
1,496,956.40 1,663,284.90 Dividend declared decreased
Co., Ltd.
Others 481,262.79 132,033.76
Total 71,478,679.48 73,025,197.50
(4) Investment income from disposal of available-for-sale financial assets
RMB
For the period from 1 For the period from 1
Name of available-for-sale financial assets January 2017 to 30 June January 2016 to 30 June
2017 2016
Chang Jiang Security Co., Ltd.(Share code: 000783)(Note) 86,659,256.47 206,426,728.39
GDLs available-for-sale financial assets(NoteV(6)) 14,924,678.18 (53,010.38)
Total 101,583,934.65 206,373,718.01
Note: In the reporting period, the Company disposed 10,000,000 shares of Chang Jiang Security Co., Ltd. in
total.
(5) Investment income from disposal of subsidiaries
RMB
For the period from 1 For the period from 1
Name of long-term equity investments January 2017 to 30 January 2016 to 30
June 2017 June 2016
Guangzhou Wo Qu(Note(VI)2) 28,807,020.50 -
MOTEL GRIL CAMPANILE
4,700,746.21 -
SETUBAL(“SETUBAL”)(Note(VI)2)
Total 33,507,766.71 -
44.Other income
(1) Details of other income are as follows:
RMB
For the period from 1 For the period from 1 Amount recognized in
Item January 2017 to 30 June January 2016 to 30 June non-recurring profit or loss
2017 2016 of the period
Government grant 18,100,017.83 - 18,100,017.83
Total 18,100,017.83 - 18,100,017.83
- 125 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
44.Other income - continued
(2) Government grants recognized in profit or loss are as follows:
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June Related to assets/income
2017 2016
Industry support funds 14,537,200.00 - Related to income
Information platform funds 1,950,000.00 - Related to assets
Amortization of Boiler Subsidy 8,000.64 - Related to assets
Xincheng Hotel project funds 342,650.00 - Related to assets
Smartel project funds 510,000.00 - Related to assets
Subsidy for brand innovation 752,167.19 - Related to income
Total 18,100,017.83 -
45. Non-operating income
(1) Details of non-operating income are as follows:
RMB
For the period from 1 For the period from 1 Amount recognized in
Item January 2017 to 30 June January 2016 to 30 June non-recurring profit or loss
2017 2016 of the period
Total of gain from disposal of
3,127,579.88 10,884,656.02 3,127,579.88
non-current assets
Government grant - 31,026,515.03 -
Compensation that
1,579,112.74 21,760,917.30 1,579,112.74
unnecessarily to be paid
Payables that cannot be paid 793,917.68 3,154,911.13 793,917.68
Income from claims 2,119,624.31 1,302,366.89 2,119,624.31
Others 7,352,046.59 5,370,845.99 7,352,046.59
Total 14,972,281.20 73,500,212.36 14,972,281.20
(2) Government grants recognized in profit or loss are as follows:
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June Related to assets/income
2017 2016
Industry support funds - 27,615,490.64 Related to income
Information platform funds - 1,950,000.00 Related to assets
Amortization of Boiler Subsidy - 8,000.00 Related to assets
Other government grants - 1,453,024.39 Related to income
Total - 31,026,515.03
- 126 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
46. Non-operating expenses
RMB
For the period from 1 For the period from 1 Amount recognized in
Item January 2017 to 30 June January 2016 to 30 June non-recurring profit or loss
2017 2016 of the period
Losses on disposal of
17,112,648.73 3,907,744.46 17,112,648.73
non-current assets
Penalty expenses 528,897.51 464,482.13 528,897.51
Litigation expenses 6,000,000.00 3,257,425.78 6,000,000.00
Others 3,001,780.98 5,826,652.11 3,001,780.98
Total 26,643,327.22 13,456,304.48 26,643,327.22
47. Income tax expenses
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Current income tax calculated according to tax laws and
219,603,659.95 136,923,556.27
relevant regulations
Additional tax paid in respect of the prior year 460,817.65 (465,937.78)
Deferred income tax expenses (196,902,687.69) (29,897,665.77)
CVAE(Note 1) (4,367,488.86) 10,285,122.94
Total 18,794,301.05 116,845,075.66
Reconciliation of income tax expenses to the accounting profit is as follows:
RMB
For the period from 1 For the period from 1
January 2017 to 30 June January to 30 June
2017 2016
Total profit 469,866,531.93 420,237,202.39
CVAE deduction(note 1) 4,367,488.86 (10,285,122.94)
Income tax expenses calculated at tax rate of 25% 118,558,505.20 102,488,019.86
Effects of non-taxable income (35,770,267.22) (31,888,009.02)
Effects of costs, expenses or losses that are not deductible 11,306,195.88 2,651,766.92
Effect of using previously unrecognized deductible losses
(9,645,710.08) (87,875.60)
and deductible temporary differences for tax purposes
Effect of deductible temporary differences or deductible
40,096,281.52 35,047,147.23
losses arising from unrecognized deferred tax assets
Changes in opening balance of deferred tax assets/liabilities
(111,688,518.33) -
due to adjustment in tax rate (note 2)
Effects of subsidiaries using different tax rates 9,844,485.29 4,090,956.47
Effects of adjusting of prior period and others 460,817.65 (5,742,053.14)
CVAE (4,367,488.86) 10,285,122.94
Income tax expenses 18,794,301.05 116,845,075.66
Note1: In accordance with tax laws of France, CVAE can be deducted before income tax.
Note2: In accordance with relevant financial decree in France, the income tax rate applicable to GDL will
decrease to 28.92% from 34.43% from 2019. Therefore, the Group recalculates relevant deferred tax
assets and deferred tax liabilities pursuant to the applicate tax rate in the period expected to recover the
asset or settle the debts, with the differences recognized as income tax expenses.
- 127 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
48. Notes to items in the cash flow statements
(1) Other cash receipts relating to operating activities
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Government grants and levy compensation 10,537,200.00 31,026,515.03
Interest income 80,713,256.80 26,843,594.03
Agency fund and others 122,025,465.70 38,374,659.01
Total 213,275,922.50 96,244,768.07
(2) Other cash payments relating to operating activities
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Rental expenses 858,939,690.17 598,325,815.67
Other payments in administrative expenses 463,978,982.50 436,057,012.92
and selling expenses 25,461,220.87 22,098,284.83
Payment of bank charges 46,195,947.64 57,779,111.53
Total 1,394,575,841.18 1,114,260,224.95
(3) Other cash receipts relating to investing activities
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Subsidy for relocation of Suzhou Amusement Land Jin
45,000,000.00 -
Jiang Inn
(4) Other cash payment relating to investing activities
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Payment for equity acquisition - 680,000,000.00
Payment for equity acquisition that to be recovered - 473,750,000.00
Payment for agency acquisition 6,353,619.89 35,696,851.30
Total 6,353,619.89 1,189,446,851.30
(5) Cash receipts from borrowings
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Borrowing from related parties 4,052,550,000.00 6,000,000,000.00
Borrowing from bank 2,165,881,860.49 10,920,000,000.00
Total 6,218,431,860.49 16,920,000,000.00
- 128 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
48. Notes to items in the cash flow statements - continued
(6) Other cash receipts relating to financing activities
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Recovery of deposit for loan - 45,816,400.00
Interest income of pledged time deposit 55,310,295.96 19,364,837.12
Recovery of due pledged time deposit 1,417,068,000.00 -
Total 1,472,378,295.96 65,181,237.12
(7) Cash repayment of borrowings
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Repayments of borrowings to bank 7,657,456,566.03 612,341,287.62
Repayments of borrowings to related parties 1,100,000,000.00 6,000,000,000.00
Total 8,757,456,566.03 6,612,341,287.62
(8) Other cash payment relating to financing activities
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Payments to minority shareholders of GDCs subsidiaries
3,236,256.60 -
due to capital withdrawal
Repayments of finance lease 5,371,394.21 5,495,020.98
Total 8,607,650.81 5,495,020.98
- 129 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
49. Supplementary information of cash flows
(1) Supplementary information of cash flows
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 January 2016 to 30
June 2017 June 2016
1.Reconciliation of net profit to cash flow from
operating activities:
Net profit 451,072,230.88 303,392,126.73
Add: Provision for asset impairment 13,767,386.24 14,509,980.72
Depreciation of fixed assets 364,937,645.71 290,898,809.99
Amortization of intangible assets 101,106,336.28 61,993,409.56
Amortization of long-term deferred expenses 303,095,708.84 218,966,270.70
Loss (Gain) on disposal of fixed assets, intangible
13,985,068.85 (6,976,911.56)
assets and other long-term assets
Financial expenses 213,802,749.44 238,633,455.01
Investment loss (income) (261,207,062.43) (333,004,292.47)
Decrease (increase) in deferred tax assets (32,596,856.91) 8,413,675.59
Increase (decrease) in deferred tax liabilities (164,305,830.78) (38,311,341.36)
Decrease in inventory 7,296,916.22 9,969,781.87
Decrease (increase) in operating receivables (123,061,366.45) (116,216,413.54)
Increase (decrease) in operating payables 509,318,309.63 110,293,293.15
Net cash flow from operating activities 1,397,211,235.52 762,561,844.39
2.Significant investing and financing activities that do
not involve cash receipts and payments
Capital transferred from debts - -
Convertible corporate bonds due within 6 months - -
Fixed assets under finance lease - -
3.Net changes in cash and cash equivalents:
Cash at end of period 5,239,039,725.54 6,042,467,381.85
Less: Cash at beginning of period 6,358,092,062.93 3,797,129,642.55
Add: Cash equivalents at end of period - -
Less: Cash equivalents at beginning of period - -
Net increase(decrease) in cash and cash equivalents (1,119,052,337.39) 2,245,337,739.30
(2) Net cash payment to acquire subsidiaries during the reporting period
RMB
Amount
Cash and cash equivalents payment to this years business combination
-Sarovar 247,240,936.40
Less: cash and cash equivalents of subsidiaries on the acquisition date
-Sarovar 6,402,826.81
Add: cash and cash equivalents payment to previous years business combination
-Nordic 2,944,764.50
-Vienna and Longevity Village 174,960,000.00
Net cash payment to acquire subsidiaries 418,742,874.09
- 130 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
49. Supplementary information of cash flows - continued
(3) Net cash receipts to dispose subsidiaries during the reporting period
RMB
Amount
Cash and cash equivalents receipts to dispose subsidiaries during the reporting period
-Guangzhou Wo Qu 12,000,000.00
Less: cash and cash equivalents of subsidiaries on the date of losing control
-Guangzhou Wo Qu 11,274,098.80
Net cash receipts to dispose subsidiaries 725,901.20
(4) Net cash payments to dispose subsidiaries during the reporting period
RMB
Amount
Cash and cash equivalents receipts to dispose subsidiaries during the reporting period
- SETUBAL -
Less: cash and cash equivalents of subsidiaries on the date of losing control
- SETUBAL 689,279.31
Net cash payments to dispose subsidiaries 689,279.31
(5) Cash and cash equivalents
RMB
Item 30 June 2017 31 December 2016
I. Cash 5,239,039,725.54 6,358,092,062.93
Including: Cash on hand 13,132,461.29 16,406,368.21
Bank deposits that can be readily withdrawn on 5,225,907,264.25 6,341,685,694.72
Other currency fund that can be readily withdrawn on
demand - -
Cash
II.demand equivalents - -
III. Closing balance of cash and cash equivalents 5,239,039,725.54 6,358,092,062.93
50.Assets with restricted ownership or right of use
RMB
Item Closing balance of Reason of restriction
Cash and bank balances(Note(V)31) value
book3,642,515.06 Frozen for litigation
Cash and bank balances(Note(V)28(Note1)) 3,306,492,000.00 Pledged
Cash and bank balances(Note(V)1(Note1)) 3,477,708.89 Restricted by contract terms
Net assets in Sailing Investment (Note(V)28(Note1)) 901,345,621.58 Pledged
(Note(V)11(3))Keystone (Note(V)28(Note1))
Net assets of 2,785,508,807.34 Pledged
Fixed assets(Note(V)11(4)) 178,794,604.83 Mortgaged
Fixed assets(Note(V)11(3)) 161,237,057.46 Without certificate of title
Total 7,340,498,315.16
- 131 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
51. Cash flow hedging
Interest rate swaps are used by the Group in order to reduce cash flow risk exposure of finance lease rental
which carries at floating interest rate, namely, swapping the floating interest rate of some finance lease into
fixed rate. During the period from 1 January to 30 June 2017, the Group defined its purchased interest swaps in
which the terms and conditions are identical with those in finance lease agreements as hedging instrument. The
Group deems that these swaps are highly effective and uses ratio analysis to evaluate the effectiveness of the
hedging tools.
The conditions and terms in interest rate swaps entered into by the Group are in conformity with those of
expected transactions, and details are as follows:
RMB000
For the period from 1 January Nominal
2017 to 30 June 2017 amount Maturity date Conditions and terms of interest rate swaps
Interest rate swaps 121,459.48 28/06/2025 Euribor3M+2.56% to fixed interest rate of 1.40%
52. Calculation of basic earnings per share and diluted earnings per share
When calculating basic earnings per share, the net profit attributable to ordinary shareholder is as follows:
RMB
Amount incurred in the Amount incurred in the
current period prior period
Net profit attributable to ordinary shareholders 412,453,689.41 299,157,333.01
Including: Net profit attributable to continuous operation 412,453,689.41 299,157,333.01
Operating
When calculating basic earnings per share, the denominator is the weighted average of issued ordinary shares,
details are as follows:
RMB
Amount incurred in the Amount incurred in the
current period prior period
Number of ordinary shares issued at beginning of the 957,936,440.00 804,517,740.00
Add:
periodweighted ordinary shares issued for the period - -
Number of ordinary shares issued at end of the period 957,936,440.00 804,517,740.00
Earnings per share
RMB
Amount incurred in the Amount incurred in the
current period prior period
Calculation based on net profit attributable to the
Basic earnings per share
Company 0.4306 0.3718
Diluted earnings per share (Note ) N/A N/A
Calculated based on net profit of continuous operation
which attributable to the Company
Basic earnings per share 0.4306 0.3718
Diluted earnings per share(Note) N/A N/A
Note: The Group holds no diluted ordinary shares.
- 132 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VI CHANGES IN CONSOLIDATION SCOPE
1. Business combination not involving enterprises under common control
(1) Business combination not involving enterprises under common control for the period
Sarovar
On 15 December 2016, the Groups subsidiary GDL entered into an "Equity Transfer Agreement" with the
former shareholder of Sarovar to acquire 74% equity in Sarovar at consideration of EUR 33,164,000, equivalent
to RMB 247,240,936.40. On 12 January 2017, this equity transfer was completed.
RMB
Net profit of
Income of
Percentag Acquiree from
e of Equity Basis for Acquiree from
Timing for Costs for Date of date of
Acquiree acquisitio determining the date of
receiving equity receiving equity acquired acquisition acquisition to
n method date of acquisition to the
equity（%） the end of
acquisition end of period
period
The date
Cash 12 January
Sarovar 12 January 2017 247,240,936.40 74.00 received control 46,668,375.38 5,886,801.29
payment 2017
right on acquiree
(2) Cost of business combination and goodwill
RMB
Sarovar
(3) I 247,240,936.40
Cost of business combination
d
Less: share of fair value of identified assets received
e 64,312,853.82
from acquiree
n
Goodwill
t 182,928,082.58
ifiable assets and liabilities of acquiree on the date of acquisition
RMB
Sarovar(Note)
Book value on acquisition
Fair value on acquisition date
date
Assets:
Cash and bank balances 6,402,826.81 6,402,826.81
Other current assets except for cash and bank balances 61,385,136.68 61,385,136.68
Fixed assets 60,818,887.51 60,818,887.51
Construction in progress 1,154,996.42 1,154,996.42
Other non-current assets except for fixed assets and construction
5,133,051.38 5,133,051.38
in progress
Sub-total of assets 134,894,898.80 134,894,898.80
Liabilities
Current Liabilities 42,537,648.50 42,537,648.50
Non-current Liabilities 5,447,988.38 5,447,988.38
Sub-total of liabilities 47,985,636.88 47,985,636.88
Net assets 86,909,261.92 86,909,261.92
Less: Minority interests 22,596,408.10 22,596,408.10
Net assets acquired 64,312,853.82 64,312,853.82
Note: As it is unavailable to determine the fair value of identifiable assets of Sarovar in active market, the
Group invited independent appraiser to assess the fair value of identifiable assets of Sarovar. As at the
balance sheet date, the appraisal was still in progress. The management of the Group believes that the
fair value of the identifiable assets approximates to its book value, so the book value of the identifiable
assets is recognized as its fair value, which is subject to further adjustment as per final appraisal results.
- 133 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VI CHANGES IN CONSOLIDATION SCOPE - continued
2.Disposal of subsidiaries
(1) Loss of control right due to single disposal of investment in subsidiaries
Difference between Percentag
the consideration and e of the Profit or loss
Basis for Book value of Fair value of the
share of net assets of remaining arising from
Consideration Percentage determining the remaining remaining
Disposal Date of losing the subsidiary equities at recalculation of
Subsidiary of disposed of disposed the date of equities at the equities at the
approach control right included in the the date of the fair value of
equity equity (%) losing control date of losing date of losing
disposed assets at the losing the remaining
right control right control right
consolidated control equities
financial statements right (%)
The date lost
Guangzhou Cash control right
12,000,000.00 16.40 30 June 2017 9,842,398.67 31.60 4,157,329.39 23,121,951.22 18,964,621.83
Wo Qu receipts over the
subsidiary
The date lost
Cash control right
SETUBAL 7,362,197.50 100.00 30 June 2017 4,700,746.21 0.00 - - -
receipts over the
subsidiary
Guangzhou Wo Qu
In the reporting period, the Groups subsidiary, Keystone, disposed 16.40% of equity in Guangzhou Wo Qu at a
consideration of RMB 12 million, which decreased the percentage of the equity it held to 31.60%. This disposal of
the equity in Guangzhou Wo Qu has decreased RMB10,672,845.54 in the Groups minority interests.
SETUBAL
In the reporting period, the Groups subsidiary, GDL, disposed 100% of equity in SETUBAL at a consideration
of RMB 7,362,197.50. As at the end of the reporting period, such consideration has not been received.
VII. EQUITY IN OTHER ENTITIES
1. Interest in subsidiaries
(1) Major subsidiaries of the Group
Principal place Shares (%)
of business and Nature of
No. Name of subsidiaries Methods of acquisition
Registered business Direct Indirect
address
Shanghai Jin Jiang International Catering Investment Co., Ltd. (Catering The subsidiary set up or invested by
1 PRC Service 100.00 -
Investment) the Group
The subsidiary acquired through a
Shanghai Jin Jiang International Hotels Investment Co., Ltd. (Hotels
2 PRC Service 100.00 - business combination involving
Investment)
enterprises under common control
The subsidiary acquired through a
3 Jin Jiang Inn Co., Ltd.( Jin Jiang Inn) PRC Service 100.00 - business combination involving
enterprises under common control
The subsidiary set up or invested by
4 Shanghai Jin Lu investment management Co., Ltd.(Jin Lu investment) PRC Service 100.00 -
the Group
The subsidiary acquired through a
5 Smartel PRC Service 100.00 - business combination not involving
enterprises under common control
Shanghai Food and Beverage Serving Equipment Co., Ltd.( Food and The subsidiary set up or invested by
6 PRC Trading 100.00 -
Beverage Serving Equipment) the Group
Shanghai Jin Jiang Louvre Asia Hotel Management Co., Ltd. (Louvre The subsidiary set up or invested by
7 PRC Service 100.00 -
Asia)(Note11) the Group
The subsidiary set up or invested by
8 Shanghai Jinpan Hotel Co.,Ltd. ( Jinpan Hotel) PRC Service 100.00 -
the Group
The subsidiary acquired through a
9 Shanghai Jin Jiang Da Hua Hotel Co., Ltd.(Da Hua Hotel) PRC Service 100.00 - business combination involving
enterprises under common control
The subsidiary set up or invested by
10 Shanghai Minhang Hotel Co., Ltd.( Minhang Hotel) PRC Service 98.25 1.75
the Group
Shanghai Jin Jiang International Food & Catering Management Co.,Ltd. The subsidiary set up or invested by
11 PRC Service 18.00 82.00
(Jin Jiang Food) (Note 1) the Group
The subsidiary set up or invested by
12 Shanghai New Asia Food Co., Ltd. ( New Asia Food) (Note 1) PRC Manufacture 5.00 95.00
the Group
The subsidiary set up or invested by
13 Shanghai New Asia Food Sales Co., Ltd. (Note 2) PRC Trading - 100.00
the Group
Shanghai Jin Jiang Tung Lok Catering Management Inc ("Tung Lok The subsidiary set up or invested by
14 PRC Service - 51.00
Catering ")(Note 1) the Group
The subsidiary set up or invested by
15 Shanghai Jinzhu Catering Management Co.,Ltd. (Note 1) PRC Service - 100.00
the Group
The subsidiary acquired through a
Shanghai Jinya Catering Management Co., Ltd ("Jinya Catering ") (Note
16 PRC Service - 100.00 business combination not involving
1)
enterprises under common control
- 134 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group - continued
Principal place Shares (%)
of business and Nature of
No. Name of subsidiaries Methods of acquisition
Registered business Direct Indirect
address
The subsidiary set up or invested by
17 Shanghai Qihong Hotels Management Co., Ltd. (Note 3) PRC Service - 100.00
the Group
The subsidiary set up or invested by
18 Shanghai Jinbei Investment Management Co., Ltd. (Note 3) PRC Service - 100.00
the Group
The subsidiary set up or invested by
19 Shanghai Jinzhen Investment Management Co., Ltd. (Note 3) PRC Service - 100.00
the Group
The subsidiary set up or invested by
20 Shenyang Jinfu Hotel Investment Management Co., Ltd. (Note 3) PRC Service - 55.00
the Group
The subsidiary set up or invested by
21 Xian Jinhu Hotels Management Co., Ltd. (Note 3) PRC Service - 100.00
the Group
The subsidiary set up or invested by
22 Shanghai Jinzhang Hotel Investment Management Co.,Ltd. (Note 3) PRC Service - 100.00
the Group
The subsidiary set up or invested by
23 Jiaxing Jin Hu Hotel Management Co., Ltd. (Note 3) PRC Service - 100.00
the Group
The subsidiary acquired through a
24 Xian Jin Jiang Inn Co., Ltd.(Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
25 Zhengzhou Jin Jiang Inn Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
26 Tianjin Jin Jiang Inn Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
27 Tianjin He Dongqu Jin Jiang Inn Co., Ltd.( Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
28 Shenyang Songhuajiang Jin Jiang Inn Co., Ltd.( Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
29 Zhoushan Shenjiamen Jin Jiang Inn Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
30 Tianjin JinJin Hotel Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
31 Shanghai Jinpu Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
32 Nanjing HuJin Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
33 Kunshan Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
34 Changzhou Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
35 Xian Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
36 Changchun Jin Jiang Inn Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
37 Changchun Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
38 Zhenjiang Jingkou Jin Jiang Inn Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
39 Wuhan Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
Jinhua Jinlv Investment, Consultation and Management Co., Ltd.(Note
40 PRC Service - 100.00 business combination involving
3)
enterprises under common control
The subsidiary acquired through a
41 Shenzhen Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
42 Shenyang Wenhualu Jingkou Jin Jiang Inn Co., Ltd.(Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
43 Fuzhou Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
Changzhou Jinning Hotels Investment and Management Co., Ltd. (Note
44 PRC Service - 100.00 business combination involving
3)
enterprises under common control
The subsidiary acquired through a
45 Maanshan Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
- 135 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group - continued
Principal place Shares (%)
of business and Nature of
No. Name of subsidiaries Methods of acquisition
Registered business Direct Indirect
address
The subsidiary acquired through a
46 Hefei Jinlv Investment and Management Co., Ltd.(Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
47 Hohhot Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
48 Kunming Hujin Hotel Co., Ltd. (Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
Changzhou Jin Jiang Inn Investment and Management Co., Ltd. (Note
49 PRC Service - 100.00 business combination involving
3)
enterprises under common control
The subsidiary acquired through a
50 Xining Jinlv Inn Investment(Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
51 Qingdao Jin Jiang Inn Hotel Co., Ltd.(Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
52 Jinguang Express(Note 3) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
53 Shanghai Jinle Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
54 Ningbo Jinbo Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
55 Suzhou New District Jinshi Hotels Co., Ltd. (Note 4) PRC Service - 60.00 business combination involving
enterprises under common control
The subsidiary acquired through a
56 Shanghai Jinhong Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
57 Wuxi Jinxi Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
Beijing Jin Jiang Inn Hotels Investment and Management Co., Ltd.
58 PRC Service - 100.00 business combination involving
(Note 4)
enterprises under common control
The subsidiary acquired through a
59 Shanghai Jinhai Hotel Co., Ltd.(Note 4) PRC Service - 70.00 business combination involving
enterprises under common control
The subsidiary acquired through a
60 Shanghai Jinhua Hotel Co., Ltd. (Note 4) PRC Service - 80.00 business combination involving
enterprises under common control
The subsidiary acquired through a
61 Yangzhou Jinyang Hotel Co., Ltd. (Note 4) PRC Service - 75.00 business combination involving
enterprises under common control
The subsidiary acquired through a
62 Shanghai Dishuihu Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
63 Huaian Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
64 Shanghai Jinya Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
65 Hangzhou Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
66 Chongqing Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
67 Chengdu Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
68 Shanghai Jinning Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
69 Shanghai Jinmin Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
70 Nanchang Ruzilu Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
71 Nanchang West Nanjing Road Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
- 136 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group - continued
Principal place Shares (%)
of business and Nature of
No. Name of subsidiaries Methods of acquisition
Registered business Direct Direct
address
The subsidiary acquired through a
72 Shenyang Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
73 Jiaxing Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
74 Nanning Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
75 Shanghai Lin Qing Hotel Co., Ltd.(Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
76 Shanghai Jin Feng Hotel Co., Ltd. (Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
77 Tianjin Hu Jin Hotel Investment Co., Ltd.(Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
78 Lhasa Jin Jiang Inn Hotel Co., Ltd.(Note 4) PRC Service - 100.00 business combination involving
enterprises under common control
The subsidiary acquired through a
79 Shanghai Yujin Hotels Management Co., Ltd.(Note 4) PRC Service - 60.00 business combination involving
enterprises under common control
The subsidiary acquired through a
80 City Inn (Note 4) PRC Service - 100.00 business combination not involving
enterprises under common control
The subsidiary set up or invested by
81 Lushan Jin Jiang International Hotel Investment Co., Ltd. (Note 3) PRC Service - 60.00
the Group
The subsidiary set up or invested by
82 Yili Jinlv Hotels Management Co., Ltd. (Note 3) PRC Service - 100.00
the Group
The subsidiary set up or invested by
83 Shanghai Jinxian Hotels Management Co., Ltd. (Note 3) PRC Service - 100.00
the Group
Hangzhou Jinche Inn Hotels Investment and Management Co., Ltd. The subsidiary set up or invested by
84 PRC Service - 100.00
(Note 3) the Group
The subsidiary set up or invested by
85 Tianjin Jintai Hotels Management Co., Ltd (Note 3) PRC Service - 100.00
the Group
The subsidiary set up or invested by
86 Shanghai Jin Jiang shares (Hong Kong) Ltd. (Note 5) Hong Kong Investment - 100.00
the Group
The subsidiary set up or invested by
87 Sailing Investment (Note 5) Luxembourg Investment - 100.00
the Group
The subsidiary acquired through a
Investment
88 GDL(Note 5) France - 100.00 business combination not involving
holding
enterprises under common control
The subsidiary acquired through a
Investment
89 Louvre Htels Group(Note 5,6) France - 100.00 business combination not involving
holding
enterprises under common control
The subsidiary acquired through a
90 Keystone(Note7) PRC Service 81.0034 - business combination not involving
enterprises under common control
The subsidiary acquired through a
91 7 Days Hotel (Shenzhen) Co., Ltd. (Note 8) PRC Service - 81.0034 business combination not involving
enterprises under common control
The subsidiary acquired through a
92 7 Days Four Seasons (Guangzhou) Co., Ltd. (Note 8) PRC Service - 81.0034 business combination not involving
enterprises under common control
The subsidiary acquired through a
Cayman
93 Plateno Investment Limited (Note 8) Investment - 81.0034 business combination not involving
Islands
enterprises under common control
The subsidiary acquired through a
Cayman
94 Plateno Group Limited (Note 8) Investment - 81.0034 business combination not involving
Islands
enterprises under common control
The subsidiary acquired through a
Cayman
95 7 Days Group Holdings Limited (Note 8) Investment - 81.0034 business combination not involving
Islands
enterprises under common control
The subsidiary acquired through a
96 Vienna (Note 9) PRC Service 80.00 - business combination not involving
enterprises under common control
The subsidiary acquired through a
97 Longevity Village (Note10) PRC Service 80.00 - business combination not involving
enterprises under common control
- 137 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VII. EQUITY IN OTHER ENTITIES- continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group- continued
Note 1: Subsidiaries of Catering Investment.
Note 2: Subsidiaries of New Asia Food
Note3: Subsidiaries of Hotel Investment.
Note4: Subsidiaries of Jin Jiang Inn
Note5: It is the subsidiary of Jinlu Investment
Note6: Louvre Htels Group has 363 subsidiaries in total, including wholly-owned subsidiaries 319, 286
registered in France, 14 in Poland, 14 in Netherlands, 12 in Britain, 11 in German, 8 in Spain and the
rest 18 in other countries.
Note7: Keystone has 130 subsidiaries in total, including 91 wholly-owned subsidiaries: 87 registered in
Mainland China and the rest 43 out of Mainland China.
Note8: Subsidiaries of Keystone
Note9: Vienna has 27 subsidiaries in total, all of which are wholly-owned.
Note10: Longevity Village has 2 subsidiaries in total, all of which are wholly-owned.
Note11: It is the former Metropolo Hotel Management Co., Ltd., and renamed as Louvre Asia in the reporting
period.
(2) Important but not wholly-owned subsidiaries
Current period
Current period profit Equity balance of
Minority declaration of
Name of subsidiaries shareholding (%)
or loss attributable
dividends to
minority interests at
to minority interests the end of period
minority interests
Shanghai Yujin Hotels Management Co.,
40.00 643,195.06 - 10,765,282.87
Ltd.
Suzhou New District Jin Shi Hotel Co.,
40.00 463,953.82 800,000.00 5,826,875.48
Ltd.
Lushan Jin Jiang International Hotel
40.00 (739,181.65) - 6,778,033.63
Investment Co., Ltd.
Shanghai Jinhua Hotel Co., Ltd. 20.00 763,977.72 800,000.00 5,464,248.15
Shenyang Jinfu Hotel Investment
45.00 (807,047.99) - 5,216,242.67
Management Co.,Ltd.
Gerestel Rodez Nancy Aurillac 34.00 (24,757.95) - 8,390,270.03
Gestion Hotel Cahors Vitrolles 44.50 (561,001.22) - 6,673,547.02
SCI Chasse 35.00 224,188.24 - 6,751,971.19
Gestion Htel de St Quentin en Yvelines 13.00 470,912.73 - 6,862,442.97
Keystone 18.9966 19,045,887.37 - 653,246,611.99
Vienna 20.00 18,970,515.83 154,152,268.49
Longevity Village 20.00 (798,722.70) - 1,244,114.23
- 138 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VII. EQUITY IN OTHER ENTITIES- continued
1. Interest in subsidiaries - continued
(3) Key financial information of important but not wholly-owned subsidiaries
RMB
30 June 2017 31 December 2016
Name of subsidiaries Non-current Non-current Non-current Non-current
Current assets Total assets Current liabilities Total liabilities Current assets Total assets Current liabilities Total liabilities
assets liabilities assets liabilities
Shanghai Yujin Hotels
22,630,035.34 8,452,360.07 31,082,395.41 4,169,188.15 - 4,169,188.15 19,830,954.00 9,108,122.96 28,939,076.96 3,633,857.36 - 3,633,857.36
Management Co., Ltd.
Suzhou New District Jin Shi
51,091,561.90 9,644,952.86 60,736,514.76 1,169,326.10 45,000,000.00 46,169,326.10 6,852,222.30 10,082,166.07 16,934,388.37 1,527,084.23 - 1,527,084.23
Hotel Co., Ltd.
Lushan Jin Jiang International
2,449,257.68 24,761,048.74 27,210,306.42 10,265,222.35 - 10,265,222.35 3,491,066.57 25,512,314.39 29,003,380.96 10,213,650.04 - 10,213,650.04
Hotel Investment Co., Ltd.
Shanghai Jinhua Hotel Co., Ltd. 8,270,104.93 26,401,981.49 34,672,086.42 7,350,845.66 - 7,350,845.66 3,175,035.32 27,218,044.16 30,393,079.48 2,891,559.13 - 2,891,559.13
Shenyang Jinfu Hotel Investment
10,530,198.12 32,543,027.02 43,073,225.14 31,481,574.76 - 31,481,574.76 6,900,342.11 33,960,313.43 40,860,655.54 17,469,778.96 10,000,000.00 27,469,778.96
Management Co.,Ltd.
Gerestel Rodez Nancy Aurillac 17,440,974.57 15,666,838.37 33,107,812.94 4,616,739.40 3,808,892.80 8,425,632.20 16,128,506.50 14,986,353.40 31,114,859.90 4,133,390.05 3,589,619.61 7,723,009.66
Gestion Hotel Cahors Vitrolles 6,446,598.49 17,633,203.68 24,079,802.17 5,983,199.93 3,080,390.21 9,063,590.14 6,058,035.66 16,878,160.06 22,936,195.72 4,571,183.99 2,984,418.92 7,555,602.91
SCI Chasse 22,945,388.84 1,148,591.05 24,093,979.89 4,525,805.88 277,076.86 4,802,882.74 20,982,956.56 1,113,544.77 22,096,501.33 4,206,084.31 266,850.92 4,472,935.23
Gestion Htel de St Quentin en
19,509,542.26 81,247,418.67 100,756,960.93 4,939,307.43 43,028,989.44 47,968,296.87 13,848,668.72 77,765,335.88 91,614,004.60 4,372,170.65 40,782,943.40 45,155,114.05
Yvelines
Keystone 2,268,984,299.86 4,865,310,112.66 7,134,294,412.52 1,854,079,618.21 1,816,058,124.35 3,670,137,742.56 2,055,948,185.32 5,010,572,586.94 7,066,520,772.26 2,700,573,678.32 1,005,635,373.15 3,706,209,051.47
Vienna 964,796,062.66 680,260,238.17 1,645,056,300.83 863,971,980.73 10,322,977.64 874,294,958.37 821,714,165.25 640,334,297.08 1,462,048,462.33 777,070,740.98 9,068,958.06 786,139,699.04
Longevity Village 34,048,884.58 27,615,835.53 61,664,720.11 55,444,148.96 - 55,444,148.96 44,524,543.69 24,839,037.81 69,363,581.50 59,149,396.87 - 59,149,396.87
RMB
For the period from 1 January 2017 to 30 June 2017 For the period from 1 January 2016 to 30 June 2016
Name of subsidiaries Total comprehensive Cash flows from Total comprehensive Cash flows from
Operating income Net profit Operating income Net profit
income operating activities income operating activities
Shanghai Yujin Hotels Management Co., Ltd. 9,003,920.38 1,607,987.66 1,607,987.66 (4,539,692.05) 9,156,129.54 1,606,450.27 1,606,450.27 (24,542,466.06)
Suzhou New District Jin Shi Hotel Co., Ltd. 4,096,914.77 1,159,884.56 1,159,884.56 46,141,471.28 4,355,211.91 1,206,951.68 1,206,951.68 (4,118,917.32)
Lushan Jin Jiang International Hotel Investment Co.,
1,628,023.48 (1,847,954.13) (1,847,954.13) 1,258,572.90 157,530.04 (732,999.08) (732,999.08) (791,304.37)
Ltd.
Shanghai Jinhua Hotel Co., Ltd. 15,275,921.18 3,819,888.62 3,819,888.62 3,918,778.76 15,855,927.78 3,595,671.70 3,595,671.70 4,297,660.14
Shenyang Jinfu Hotel Investment Management 2,066,230.09 (1,055,503.45) (1,055,503.45) 1,162,100.94
5,733,862.38 (1,793,439.96) (1,793,439.96) 6,673,432.07
Co.,Ltd.
Gerestel Rodez Nancy Aurillac 7,652,081.44 (72,817.51) (72,817.51) 634,709.59 6,497,980.92 360,709.17 360,709.17 (610,432.14)
Gestion Hotel Cahors Vitrolles 9,149,391.48 (1,260,676.89) (1,260,676.89) 638,276.18 8,961,274.75 1,070,739.69 1,070,739.69 (1,120,250.13)
SCI Chasse 723,679.73 640,526.83 640,526.83 80.88 - - - -
Gestion Htel de St Quentin en Yvelines 12,577,727.61 3,622,405.63 3,622,405.63 1,167,359.38 39,002,505.36 9,758,380.80 9,758,380.80 (4,665,643.41)
Keystone 1,838,552,793.10 112,130,093.58 115,143,026.64 484,618,601.32 1,202,678,320.17 41,428,780.28 69,510,925.26 305,603,099.49
Vienna 1,026,987,083.39 94,852,579.17 94,852,579.17 277,317,365.80 - - - -
Longevity Village 147,741,902.60 (3,993,613.48) (3,993,613.48) (1,472,802.09) - - - -
- 139 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VII. EQUITY IN OTHER ENTITIES- continued
2. Shares of owners’ equity in subsidiaries changed but still control transactions in subsidiaries
In the reporting period, the Groups subsidiaries, Gestion htel Nanterre Paris 92 and Gestion Htels Nancy Essey Maubeuge became the Groups wholly-owned subsidiaries
due to the capital withdrawal of their minority shareholders. The decreased minority interests caused by such capital withdrawal is equivalent to RMB 3,236,256.60.
3. Interest in associates
(1) Significant associates
Shareholding ratio
Principal place Accounting method of
Name of associates Registered address Business nature (%)
of business associates
Direct Direct
Shanghai Kentucky Fried Chicken Co., 768 Shuang Liao Road, Yang Pu
PRC Produce fast food 42 - Equity method
Ltd. District, Shanghai
Shanghai New Asia Fulihua Catering Co., 808 Huai Hai Zhong Road, Catering, kitchen equipment, chemicals
PRC 41 - Equity method
Ltd. Shanghai commodity etc.
Lane 14, No.1502, Luoshan
Shanghai Qicheng Network Technology
PRC Road, China (Shanghai) Pilot Network Information Technology 10 - Equity method
Co., Ltd.
Free Trade Zone
- 140 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VII. EQUITY IN OTHER ENTITIES- continued
3. Interest in associates - continued
(2) Key financial information of significant associates
RMB
30 June 2016/For the period from 1
For the period from 1 January 2017 to 30 June 2017
January 2016 to 30 June 2016
Shanghai Qicheng
Shanghai Shanghai New Shanghai Kentucky Shanghai New
Network
Kentucky Fried Asia Fulihua Fried Chicken Co., Asia Fulihua
Technology Co.,
Chicken Co., Ltd. Catering Co., Ltd. Ltd. Catering Co., Ltd.
Ltd.
Current assets 101,581,764.13 85,943,648.82 385,523,524.22 265,964,260.06 75,373,840.36
Including: cash and cash
91,063,046.06 68,677,116.78 338,665,746.46 87,146,459.46 62,378,015.81
equivalents
Non-current assets 482,979,282.57 32,621,844.36 604,581,596.68 504,969,374.79 31,576,705.21
Total assets 584,561,046.70 118,565,493.18 990,105,120.90 770,933,634.85 106,950,545.57
Current liabilities 156,519,110.67 45,238,163.18 204,668,250.00 376,585,840.60 40,964,558.56
Non-current liabilities 55,247,569.78 1,836,902.50 214,410,848.02 41,917,924.80 1,292,267.50
Total liabilities 211,766,680.45 47,075,065.68 419,079,098.02 418,503,765.40 42,256,826.06
Non-controlling interests - - - - -
Equity attributable to
shareholders of the parent 372,794,366.25 71,490,427.50 571,026,022.88 352,429,869.45 64,693,719.51
company
Share of net assets calculated
based 156,573,633.83 29,311,075.28 57,102,602.29 148,020,545.17 26,524,425.00
on shareholding ratio
Book value of equity
investments 156,573,633.90 29,311,075.26 57,102,602.29 148,020,545.23 26,524,424.99
in associates
Operating income 1,513,232,647.17 131,527,585.61 3,650,479.20 1,469,067,642.84 123,578,048.09
Financial expenses (2,308,277.87) 370,210.96 (841,437.82) (1,341,301.81) 411,590.19
Income tax expenses 45,609,444.01 3,007,398.17 - 35,814,087.55 2,341,030.73
Net profit 134,821,804.56 9,022,194.17 (82,962,293.32) 109,076,779.48 7,023,092.14
Other comprehensive income - - - - -
Total comprehensive income 134,821,804.56 9,022,194.17 (82,962,293.32) 109,076,779.48 7,023,092.14
Dividends received from
87,297,483.35 4,592,000.00 - - 4,305,000.00
associates for the period
(3) Financial information summary of other associates
RMB
30 June 2017/For the 30 June 2016/For the
period from 1 January period from 1 January
2017 to 30 June 2017 2016 to 30 June 2016
Associates
Total carrying amount of investments 145,561,323.68 125,301,780.34
Total amount of the following items based on
shareholding ratio
-- Total net profit and comprehensive income 1,392,108.59 1,858,481.69
- 141 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VIII. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
The Groups major financial instruments include cash and bank balances, account receivables, derivative
financial liabilities, account payables, available-for-sale financial assets, borrowings and long-term payables etc.
Details of these financial instruments are disclosed in Note (V). The risks associated with these financial
instruments and the policies on how to mitigate these risks are set out below. Management manages and
monitors these exposures to ensure appropriate measures are implemented on a timely and effective manner.
The Group adopts sensitivity analysis techniques to analyze how the entitys profit and loss for the period or
owners equity would have been affected by changes in the relevant risk variables that were reasonably possible.
As it is unlikely that risk variables will change in an isolated manner, and the interdependence between risk
variables will have significant effect on the amount ultimately influenced by the changes in a single risk
variable, the following items are based on the assumption that each risk variable has changes on a stand-alone
basis.
1. Risk management objectives and policies
The Groups risk management objectives are to achieve proper balance between risks and yield, minimize the
adverse impacts of risks on the Groups operation performance, and maximize the benefits of the shareholders
and other equity investors. Based on these risk management objectives, the Groups basic risk management
strategy is to identify and analyze the industrys exposure to various risks, establish appropriate bottom line for
risk tolerance, implement risk management, and monitors these exposures to ensure appropriate measures are
implemented on a timely and effective manner.
1.1 Market risk
1.1.1. Currency risk
Currency risk is the risk of changes in the fair value or future cash flow will occur because of changes in foreign
exchange rates. As the Company and its subsidiaries in Mainland China mainly operated in Mainland China and
its principal businesses are denominated and settled in RMB, the majority of transactions, assets and liabilities
are recorded in RMB. As at 30 June 2016, the foreign currency balance of the Company and its subsidiaries in
Mainland China is primarily associated with certain cash and bank balances, therefore the Company and its
subsidiaries in Mainland China is exposed to foreign currency risks mainly associated with USD. The Company
and its subsidiaries in Mainland China closely monitors the foreign currency risks of the Group incurred by
fluctuations in foreign exchange rate.Due to the limited foreign currency settlement, the Company and its
subsidiaries believe that the current foreign currency risk has no significant impact on the Groups business
operation
GDL, the Groups subsidiary out of Mainland China, mainly operates in Europe with Euro as the settlement
currency for its principal operating activities, and then Euro is the unit for most transactions, assets and
liabilities. As at 30 June 2016, the exposure to the foreign currency risk of GDL is primarily associated with
certain cash and bank balances in GBP and PLN. GDL closely monitors the foreign currency risks of the Group
incurred by fluctuations in foreign exchange rate. Due to the limited foreign currency settlement, GDL believes
that the current foreign currency risk has no significant impact on its business operation.
1.1.2. Interest rate risk
The Groups cash flow interest rate risk of financial instruments relates primarily to variable-rate bank
borrowings and financial lease payables (see Note (V).29 for details). It is the Groups policy to keep its
borrowings at floating rate of interests so as to eliminate the fair value interest rate risk.
- 142 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VIII. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT- continued
1. Risk management objectives and policies - continued
1.1 Market risk - continued
1.1.2. Interest rate risk - continued
Sensitivity analysis on interest rate risk
The sensitivity analysis on interest rate risk is based on the following assumptions:
Changes in the market interest rate may influence the interest income or expense of the variable rate
financial instruments;
Changes in the fair value of derivative financial instruments and other financial assets and liabilities are
calculated at the market interest rate as at the balance sheet date, using the method of discounted cash
flow analysis.
On the basis of the above assumptions, where all other variables are held constant, the reasonably possible
changes in the interest rate may have the following effect on the profit or loss for the period and owners equity
for the period from 1 January 2017 to 30 June 2017 and 1 January 2016 to 30 June 2016:
RMB000
For the period from 1 January 2017 to 30 June For the period from 1 January 2016 to 30 June
2017 2016/
Changes in interest
30 June 2017 30 June 2016
rate
Effect on profit before Effect on shareholders Effect on profit before Effect on shareholders
tax equity tax equity
Increase by 25 bp (38,707) (27,519) (40,331) (28,415)
Decrease by 25bp 38,707 27,519 40,331 28,415
1.1.3. Other price risk
Other price risk is the risk except for foreign currency and interest rate risk. The Group is mainly exposed to the
other price risk including fair value changes of available-for-sale equity instruments caused by changes in the
value of securities. On 30 June 2017, details of the Groups available-for-sale equity instruments are set out in
Note (V) 9. Other price risk of assets in fair value may affect the Groups performance and shareholders equity.
The Group closely monitors effects of security value changes. The Group adopts the sensitivity analysis
techniques to analyze the effects of reasonably possible changes in security value risk. The Group believes the
securities price risk has significant impact on the Groups performance.
The Group is exposed to the price risk arising from financial assets which are measured at fair value. As at 30
June 2017, where all other variables keep constant, the reasonably 10% increment (decrement) in equity
instrument price will result in an increment (decrement) amounting to RMB 98,837,215.52 in shareholders
equity of the Group.
1.2 Credit risk
As at 30 June 2017, the Groups maximum exposure to credit risk which will cause a financial loss to the Group
due to default by the counterparties and financial guarantees undertaken by the Group is arising from:
The carrying amount of the respective recognized financial assets as stated in the consolidated balance
sheet; for financial instruments measured at fair value, the carrying amount reflects the exposure to
risks (but not the maximum exposure to risks); the maximum exposure to risks would vary according to
the future changes in fair value.
- 143 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VIII. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT- continued
1. Risk management objectives and policies - continued
1.2 Credit risk - continued
In order to minimize the credit risk, the Group has delegated a team responsible for determination of credit
limits, credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover
overdue debts. In addition, the Group reviews the recoverable amount of each individual trade debt at each
balance sheet date to ensure that adequate impairment losses are made for irrecoverable amounts
The Group adopts a policy to control risk concentration to avoid over concentration of debts. As of 30 June
2017, there is no significant risk regarding credit concentration.
The current capital has been saved in bank and finance company with high credit standard, so the credit risk is
limited.
1.3 Liquidity risk
Liquidity risk is the risk of capital shortage that enterprises encountered with when they performed obligations
related to financial liability. In the management of the liquidity risk, the Group monitors and maintains a level of
cash and cash equivalents deemed adequate by the management to finance the Groups operations and mitigate
the effects of fluctuations in cash flows. The management monitors the utilization of borrowings and ensures
compliance with loan covenants.
At the end of the financial reporting period, the total current liabilities of the Group exceeds its total current
assets by RMB1,333,252,663.16. The Group has adopted the following measures to reduce liquidity risks:
Jin Jiang International, the ultimate holding shareholder of the Group, agrees to provide necessary
financial support to maintain the going concern of the Group when the repayment amounts fall due in
the foreseeable future
For the period from 30 June 2017 to the issue date of the financial statements, the Group has repaid due
borrowings amounted to RMB 1,910,000,000.00 and had no new borrowings
Therefore, the Group management believes that the current risk undertook by the Group has been greatly
reduced and had no significant influence on the operation as well as the financial statements.
The following is the maturity analysis for financial liabilities held by the Group which is based on undiscounted
remaining contractual obligations:
Less than 1 year 1 to 5 years More than 5 years Total
Non-derivative financial liabilities:
Short-term loan 982,969,825.36 - - 982,969,825.36
Accounts payable 1,956,484,199.43 - - 1,956,484,199.43
Dividends payable 2,196,167.45 - - 2,196,167.45
Other payables 1,196,677,875.80 - - 1,196,677,875.80
Long-term payables and non-current
11,222,842.86 46,599,079.64 156,306,795.03 214,128,717.53
liabilities due within one year
Long-term loan and non-current liabilities
6,694,075,044.57 13,658,379,318.85 161,967,849.30 20,514,422,212.72
due within one year
Above table is prepared based on un-discounted cash flow of the Groups financial liabilities on the possible
earliest repayment day, with considering the cash flows of the principal and interest.
The undiscounted amount arises from the interest rate at the end of the financial reporting, and the contract will
expire at the earliest demanded repayment day.
- 144 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
VIII. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT- continued
2. Capital management
The Group manages its capital through optimizing structures of liabilities and shareholders equity to make sure
that the main part of the Group could continue operating, and maximize the return on equity. The overall
strategies of the Group remain same from 1 January 2017 to 30 June 2017.
The capital of the Group consist of net liabilities and shareholders equity.
The management of the Group regular reviews the Groups capital structure
IX. DISCLOSURE OF FAIR VALUE
1.Closing fair value of assets and liabilities at fair value method
RMB
Fair value on 30 June 2017
Level 1 Level 2 Level 3
Total
Fair value Fair value Fair value
Fair value on a recurring basis
Available-for-sale financial assets 593,920,449.75 - 542,931,817.86 1,136,852,267.61
Total assets measured at fair value on a
593,920,449.75 - 542,931,817.86 1,136,852,267.61
recurring basis
Held-for-trading financial liabilities - - - -
Including: Derivative financial
- 5,175,221.63 - 5,175,221.63
liabilities
Total liabilities measured at fair value
- 5,175,221.63 - 5,175,221.63
on a recurring basis
2. Determination basis of market price for items measured at Level 1 fair value on a recurring and
non-recurring basis
At the end of this reporting period, fair value was determined with reference to closing price at
Shanghai Stock Exchange and Shenzhen Stock Exchange on 30 June 2017.
3. Applicable valuation technique and important parameter information for items measured at level 2
fair value at a recurring basis
Fair value on 30 June 2017 Valuation techniques Input
Discount rate and forward
Derivative financial liabilities 5,175,221.63 Discounted cash flow
interest rate
4. Applicable valuation technique and important parameter information for items measured at level 3
fair value at a recurring basis
Fair value on 30 June
Valuation techniques Input Weighted average
2017
Available-for-sale financial assets 542,931,817.86 Comparative law of listed company Liquidity discount 20%
5. Fair value Information of financial assets and financial liabilities which are not measured by fair value
For the Groups current assets and current liabilities that are not measured at fair value, the carrying
amount of financial assets and the financial liabilities approximate to their fair value
- 145 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS
1. Basic information of parent company
Equity
Voting rights
Name of company Registered address Principal operation Registered capital interests
(%))
(%)
Room316-318,No.24
Hotels Investment, hotel
Jin Jiang Hotels Group Yangxin East Road, Pudong RMB 5,566 million 50.32 50.32
management and others
District, Shanghai, PRC
Additional information of parent company
On 6 June 1995, Jin Jiang Hotels Group Stock Limited was restructured from Shanghai New Asia Group Co., Ltd in PRC, principal operation
of that include hotels investment, food and others. On 15 December 2006, Jin Jiang Hotels Groups share (Stock Code: 02006) was approved to
list in Hong Kong Stock Exchange. Its parent company and ultimate holding company is Jin Jiang International.
The ultimate holding party is Jin Jiang International.
2. Basic information of subsidiary
The general information and other related information of the subsidiaries is set out in note (VII) 1.
3. Basic information of jointly controlled entities and associate
The Company has no jointly controlled entities. The general information and other related information of
associate is set out in Note (VII) 3.
4. Other related parties
Name of the Company Relationship with the Group
Shanghai Jin Jiang International Hotels (Group) Co., Ltd. New Jin Jiang Hotel Component of parent company
Shanghai Jin Jiang International Hotels (Group) Co., Ltd. New Asia Hotel Component of parent company
Shanghai Jin Jiang International Hotels (Group) Co., Ltd. Xincheng Hotel Component of parent company
Shanghai Jin Jiang Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Hotel Co., Ltd. Fellow subsidiary
Cypress Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Pacific Hotel Co., Ltd. Fellow subsidiary
Shanghai Hongqiao Hotel Co., Ltd. Fellow subsidiary
Shanghai Hotel Co., Ltd. Fellow subsidiary
Jinshajiang Hotel Co., Ltd. Fellow subsidiary
Shanghai Peace Hotel Co., Ltd. Fellow subsidiary
Wuhan Jin Jiang Hotel Co., Ltd. Fellow subsidiary
Marvel Hotel Shanghai Fellow subsidiary
Sofitel Shanghai Hyland Hotel Co., Ltd. Fellow subsidiary
Shanghai Jianguo Hotel Co., Ltd. Fellow subsidiary
Shanghai MAGNOTEL Hotel Co., Ltd. Fellow subsidiary
Jin Jiang International Finance Co., Ltd. Fellow subsidiary
Shanghai New Asia Plaza Great Wall Hotel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Hotel Commodities Co., Ltd. Fellow subsidiary
Jin Jiang International Hotel Management Co., Ltd. Fellow subsidiary
Shanghai Hua Ting Guest House Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang Travel Co., Ltd. Fellow subsidiary
Shanghai Jin Jiang International Travel Corporation Fellow subsidiary
Shanghai Jin Jiang International Industrial Investment
Co., Ltd. Xin Jin Jiang Hotel Fellow subsidiary
- 146 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS- continued
4. Other related parties - continued
Name of the Company Relationship with the Group
Xian Xijing International Hotel Co., Ltd. Fellow subsidiary
Shanghai Jing An Bakery Co., Ltd. Fellow subsidiary, associate
Shanghai Jin Jiang Tomson Hotel Co., Ltd. Joint venture of parent company
Les Roches Jin Jiang International Hotel Management College Associates of parent company
Shanghai Yangtze Hotel Co., Ltd Associates of parent company
(Together, Jin Jiang Hotels Group and all above entities named as "Jin Jiang Hotels Group and
subsidiaries)
Shanghai Longshen business service Co., Ltd Subsidiary of ultimate holding company
Shanghai New Asia (Group) Trade Co., Ltd. Subsidiary of ultimate holding company
Jiaozhou Resort Hotel of Shanghai Food Group Subsidiary of ultimate holding company
Shanghai Jin Jiang Advertising Co., Ltd Subsidiary of ultimate holding company
Shanghai Jin Jiang Amusement Park Subsidiary of ultimate holding company
Jinyuan Inn of Shanghai Foods Group Subsidiary of ultimate holding company
Shanghai Jin Jiang property management Co., Ltd. Subsidiary of ultimate holding company
Shanghai Genjie investment management Co., Ltd. Subsidiary of ultimate holding company
Hong Kong Jin Jiang Travel Co., Ltd Subsidiary of ultimate holding company
Shanghai East Jin Jiang Hotel Co., Ltd. Subsidiary of ultimate holding company
Shanghai Meat Company Subsidiary of ultimate holding company
Shanghai Jin Jiang International Investment
Management Co., LTD Subsidiary of ultimate holding company
Shanghai Jin Jiang International E-Commerce Co., Ltd. Subsidiary of ultimate holding company
Shanghai Hua Ting Hotel and Towers Co., Ltd. Subsidiary of ultimate holding company
Shanghai Xinyuan Hotel Subsidiary of ultimate holding company
Shanghai Hunan Egg Poducts Company Subsidiary of ultimate holding company
Pictet Huitong Network Technology (Shanghai) Co., Ltd. Subsidiary of ultimate holding company
Master Melon Capital Subsidiary of ultimate holding company
(Together, Jin Jiang International and all above entities named as "Jin Jiang International and
subsidiaries")
Shanghai Xinjin Hotel Management Co., Ltd. Associate
(Above entities are collectively referred to as "Related entities of Hotel Investment")
GOLDEN TULIP MENA Associate
GOLDEN TULIP SOUTHERN ASIA LTD Associate
SNC LISIEUX Associate
(Above entities are collectively referred to as "Related entities of GDL”)
Ganzi Shengdi Xiang Ba La Tourism Investment Co., Ltd. Associate
Guangzhou Muximei Internet Service Co., Ltd. Associate
Guangzhou Yaji Hotel Management Co., Ltd. Associate
(Together, all above entities named as "Related entities of Keystone")
- 147 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS- continued
5.Related party transactions
(1) Purchases or sales of goods, rendering or receiving of services
Facts of purchasing goods/Receiving labor service:
RMB
For the period from 1 For the period from 1
January 2017 to 30 June January 2016 to 30 June
Related party Transaction type 2017 2016
1. Purchase goods
Jin Jiang Hotels Group and
Purchasing of hotel commodities and food 283,280.02 342,257.87
subsidiaries
Jin Jiang International and
Purchasing of hotel commodities and food 11,700.00 15,342.00
subsidiaries
Sub-total 294,980.02 357,599.87
2. Receiving labor services
Jin Jiang International and
Membership credit services fees 1,784,954.56 1,282,717.79
subsidiaries
Sub-total 1,784,954.56 1,282,717.79
Jin Jiang International and
Room booking service fees 220,696.41 318,333.48
subsidiaries
Sub-total 220,696.41 318,333.48
Facts of sales of goods/rendering labor service:
RMB
For the period from 1 For the period from 1
Related party Transaction type January 2017 to 30 June January 2016 to 30 June
2017 2016
1. Management fee
Jin Jiang Hotels Group and Management fee of limited- service business hotels
458,440.68 526,409.31
subsidiaries in Mainland China
Jin Jiang International and Management fee of limited- service business hotels
415,058.73 380,222.15
subsidiaries in Mainland China
Sub-total 873,499.41 906,631.46
2. Reservation channels fee
Jin Jiang Hotels Group and Reservation channels fee of limited-service
135,528.31 103,260.57
subsidiaries business hotels in Mainland China
Jin Jiang International and Reservation channels fee of limited-service
129,209.43 89,863.34
subsidiaries business hotels in Mainland China
Sub-total 264,737.74 193,123.91
3. Credit fee
Jin Jiang Hotels Group and Credit revenue of market Co-ordination in
11,071.51 18,016.02
subsidiaries Mainland China
Jin Jiang International and Credit revenue of market Co-ordination in
12,953.27 19,157.72
subsidiaries Mainland China
Sub-total 24,024.78 37,173.74
4. Sales of goods and food
Jin Jiang Hotels Group and Goods for sales of limited- service business hotels
96,039.03 68,586.44
subsidiaries in Mainland China
Jin Jiang International and Goods for sales of limited- service business hotels
101,908.24 112,701.70
subsidiaries in Mainland China
Sub-total 197,947.27 181,288.14
Jin Jiang Hotels Group and
Food for sale 794,039.31 1,019,622.94
subsidiaries
Jin Jiang International and
Food for sale 74,726.48 69,763.40
subsidiaries
Sub-total 868,765.79 1,089,386.34
- 148 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS- continued
5. Related party transactions - continued
(2) Facts of related lease
The Group as lessor:
RMB
Rental income(This Rental income(Last
Lessee Asset for lease
period) period)
Les Roches Jin Jiang International Hotel
Office area 59,410.71 112,190.48
Management College
Sub-total 59,410.71 112,190.48
The Group as lessee:
RMB
Rental expense (This Rental expenses(Last
Lessor Asset for lease
period) period)
Shanghai Genjie investment management Co., Ltd. Office and Operating region 4,902,593.58 5,314,285.71
Jinshajiang Hotel Co., Ltd. (Note) Operating region - 5,038,607.22
Shanghai Hua Ting Guest House Co., Ltd. (Note) Operating region 4,070,080.86 4,089,584.90
Shanghai MAGNOTEL Hotel Co., Ltd. (Note) Operating region 4,229,649.60 4,017,495.30
Shanghai Jin Jiang Hotel Co., Ltd. Restaurant and stall building 1,302,258.13 1,527,892.57
Jin Jiang International Office and Operating region 1,317,062.85 1,230,777.13
Shanghai East Jin Jiang Hotel Co., Ltd. Office region 5,811.72 299,789.00
Shanghai Jin Jiang Amusement Park Operating region 1,520,834.53 285,033.66
Shanghai Jin Jiang property management Co., Ltd. Sales location of Haining store 352,579.31 331,307.92
Wuhan Jin Jiang Hotel Co., Ltd. Restaurant 230,171.24 206,907.93
Shanghai Jin Jiang International Investment
Operating region 642,765.72 -
Management Co., LTD
Sub-total 18,573,807.54 22,341,681.34
Note: Company signed the " entrusted operation contract" with Jin Jiang Hotels Group and Marvel Hotel
Shanghai, the subsidiary of the Group, and "lease contract" with Huating Guest House, Jinshajiang Hotel and
MAGNOTEL Hotel respectively (refer to Note (X)5(3)).
(3) Details on entrusted operation and lease of related parties
On 29 March 2013, the Company and Jin Jiang Hotels Group signed an entrusted operation contract, the
company entrusted with the operation part of the Jin Jiang Hotel Group, a subsidiary of Jin Jiang Hotels Group
Metropole Hotel Jin Jiang Hotels Group branches and New Asia Hotel Branch (hereinafter referred to as
"entrusted operation hotels"). The duration of entrusted operation period is 15 years, from 1 April 2013 to 31
March 2028, and the company enjoys a renewal option after the expiry of the period of the commission, but not
less than 5 years of renewal. The Company within the period of 15 years entrusted with the operation, and pays
a fixed amount annually to the Jin Jiang Hotel Group fiduciary business expenses and the remaining gain or loss
on operating assets entrusted to enjoy all the benefit of the Company or commitments. In addition, the original
debts above entrusted operation of two branches on 1 April 2013 form the Jin Jiang Hotel Group still continue to
bear.
On the same day, the Company signed a lease contract with Shanghai Hua Ting Guest House Co., Ltd.,
Jinshajiang Hotel Co., Ltd. and Shanghai MAGNOTEL Hotel Co., Ltd. The Company rented all properties of
the three hotel mentioned above (hereinafter collectively referred to as "leased hotels"). Lease period is 15 years
from 1 April 2013 to 31 March 2028, and the company enjoys a renewal option after the expiry of the lease
period, but not less than 5 years of renewal. During the 15 years of the lease term, The Company has to pay a
fixed amount of leasing fee to the leased hotels. Meanwhile, for operating expense, The Group have to pay
compensation, social securities and related expense for those related employees are listed in above three hotels
since 31 March 2013. In addition, the three leased hotels mentioned above will bear their own existing debts
from 1, April 2013.
- 149 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS- continued
5. Related party transactions - continued
(3) Details on Entrusted and Lease operation of related parties- continued
As at 31 August 2016, the lease contract between the Company and Jinshajiang Hotel Co., Ltd. was terminated
prior to its expiration.
Except Jinshajiang Hotel Co., Ltd., the operating results and cash flows of the entrusted operation hotels and
leased hotels mentioned above for the period from 1 January 2017 to 30 June 2017 have been included in the
Companys and consolidated income statements and cash flow statements. The assets and liabilities arising from
operations since 1 April 2013 have been included in the companys balance sheet and the Groups consolidated
balance sheet.
On 30 December 2013, the Company signed a lease contract with Marvel Hotel Shanghai. The duration of
entrusted operation period is 14 years, from 1 January 2014 to 31 December 2027, and the company enjoyed a
renewal option after the expiry of the period of the commission, but not less than 6 months of renewal and it
should negotiate with Marvel Hotel Shanghai and Shanghai YMCA if renewal. The Company within the period
of 14 years entrusted with the operation, and paid an amount annually to the Marvel Hotel Shanghai fiduciary
business expenses. At the same time, the company borrowed qualified staff registered in Marvel Hotel Shanghai,
31 December 2013, and paid expenses for labor remuneration, social insurance premium and so on. In addition,
the company bought out the inventory of the hotel whose book value for the accounting basis is totally RMB
2447.23 in 31 December 2013. And the rights and debts before 31 December 2013 belonging to Marvel Hotel
Shanghai was assumed by the hotel as well. In the reporting period, the company set up Shanghai Jin Jiang
International Hotel Development Co., Ltd YMCA branch entrusted to operate business in the aftermath of the
Marvel Hotel Shanghai in accounting, The operating results and cash flow of Marvel Hotel Shanghai since 1
January 2014 to 30 June 2014 have been incorporated in to the current income statement, statement of cash flow,
groups merger current income and consolidated cash flow statements. Assets and liabilities generated from
operations from 1 January 2014 of Marvel Hotel Shanghai have been incorporated into both the Companys and
the Groups statements of assets and liabilities.
During the reporting period, the company being entrusted operation or lessee party, related expenses associated
fiduciary operations and leasing fees are as follows:
RMB
For the period from 1 For the period from 1
Entrusting Party / Leaser January 2017 to 30 June January 2016 to 30 June
2017 2016
Related entrusted operating expense/Rent expense
Jin Jiang Hotels Group 15,072,000.00 14,820,800.00
Marvel Hotel Shanghai 5,520,000.00 5,162,500.00
Jinshajiang Hotel Co., Ltd. - 5,038,607.22
Shanghai Hua Ting Guest House Co., Ltd. 4,284,000.00 4,089,584.90
Shanghai MAGNOTEL Hotel Co., Ltd. 4,452,000.00 4,017,495.30
Total 29,328,000.00 33,128,987.42
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Fee of payment and social security of hired staff 26,413,734.30 27,009,970.34
- 150 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS- continued
5. Related party transactions - continued
(4) Guarantees with related parties
The Group as the guaranteed party:
RMB
Inception date Expiration date Whether execution of
Guarantor Guaranteed party Guaranteed amount
of guarantee of guarantee guarantee has been completed
Jin Jiang International Sailing Investment 5,996,984,353.00 19/05/2015 18/05/2018 N
(5) Loans from and to other related parties
RMB
Relatedparty Amountofborrowings/loans Inceptiondate MaturityDate Remarks
Borrowedfrom:
FinanceCompany 200,000,000.00 18/02/2016 03/02/2017 Creditborrowings
FinanceCompany 100,000,000.00 20/12/2016 03/02/2017 Creditborrowings
FinanceCompany 100,000,000.00 20/12/2016 01/06/2017 Creditborrowings
FinanceCompany 400,000,000.00 20/12/2016 31/05/2017 Creditborrowings
FinanceCompany 200,000,000.00 17/01/2017 19/06/2017 Creditborrowings
FinanceCompany 100,000,000.00 04/02/2017 31/05/2017 Creditborrowings
FinanceCompany 5,000,000.00 12/10/2016 11/10/2019 Creditborrowings
FinanceCompany 3,000,000.00 12/01/2017 11/01/2020 Creditborrowings
FinanceCompany 8,000,000.00 03/01/2017 28/12/2019 Creditborrowings
FinanceCompany 8,000,000.00 11/04/2017 11/04/2020 Creditborrowings
FinanceCompany 6,000,000.00 17/05/2017 16/05/2018 Creditborrowings
MasterMelonCapital 3,874,800,000.00 15/05/2017 10/05/2022 Creditborrowings
Sub-total 5,004,800,000.00
Lendto:
ShanghaiXinjinHotelM
9,000,000.00 17/11/2015 16/11/2017 Entrustedloan
anagementCo.,Ltd.
Sub-total 9,000,000.00
Interest income and expenses between the Group and the related parties are as below:
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Interest expenses 12,722,073.37 18,346,346.36
Interest income 6,363,316.69 4,737,766.59
The Group deposited some settlement cash or idle cash in Finance Company. The closing balance and
transaction amounts are as below:
RMB
Finance Company 30 June 2017 31 December 2016
Closing balance 943,789,925.11 716,477,176.50
RMB
For the period from 1 For the period from 1
Finance Company January 2017 to 30 June January 2016 to 30 June
2017 2016
Accumulative amount of deposits at Finance Company 6,547,066,241.27 4,790,560,697.54
Accumulative amount of deposits withdrawn from
Finance Company 6,319,753,492.66 4,286,208,420.52
- 151 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS- continued
(6) During the reporting period, no asset transfer with related parties or debt restructuring occurred.
(7) During the reporting period, no other related-party transactions occurred.
6. Account receivables and payables with related parties
(1) Accounts receivable
RMB
30 June 2017 31 December 2016
Item Related parties
Carrying amount Bad debts provision Carrying amount Bad debts provision
Jin Jiang Hotels Group and
Accounts receivable 843,274.74 - 1,406,135.60 -
subsidiaries
Jin Jiang International and
Accounts receivable 19,073,235.80 - 4,099,297.86 -
subsidiaries
Accounts receivable Affiliated companies of GDL 26,310,090.39 6,447,622.25 24,806,773.05 6,079,215.22
Sub-total 46,226,600.93 6,447,622.25 30,312,206.51 6,079,215.22
Jin Jiang Hotels Group and
Other receivables 1,284,898.41 - 725,119.31 -
subsidiaries
Jin Jiang International and
Other receivables 5,367,134.69 - 1,013,676.50 -
subsidiaries
Other receivables Affiliated companies of GDL 5,812,200.00 - 5,421,645.60 -
Other receivables Affiliated companies of Keystone - - 850.68 -
Sub-total 12,464,233.10 - 7,161,292.09 -
Jin Jiang Hotels Group and
Interest receivable 12,580,322.54 - 9,974,805.84 -
subsidiaries
Affiliated companies of Hotel
Interest receivable 12,120.00 - 13,332.00 -
Investment
Sub-total 12,592,442.54 - 9,988,137.84 -
Other current assets Affiliated companies of Keystone 5,543,803.80 5,543,803.80 5,543,803.80 5,543,803.80
Sub-total 5,543,803.80 5,543,803.80 5,543,803.80 5,543,803.80
Other non-current
Affiliated companies of Hotel
assets due within one 9,000,000.00 - 9,000,000.00 -
Investment
year
Sub-total 9,000,000.00 - 9,000,000.00 -
Other non-current
Affiliated companies of Keystone - - 1,320,000.00 -
assets
Sub-total - - 1,320,000.00 -
(2) Accounts payable
RMB
Item Related parties 30 June 2017 31 December 2016
Accounts payable Jin Jiang International and subsidiaries 2,939,862.83 222,995.99
Accounts payable Jin Jiang Hotels Group and subsidiaries 3,871,427.31 10,468,353.45
Sub-total 6,811,290.14 10,691,349.44
Other payables Jin Jiang International and subsidiaries 1,286,830.25 2,618,744.53
Other payables Jin Jiang Hotels Group and subsidiaries 3,558,670.78 2,761,773.13
Sub-total 4,845,501.03 5,380,517.66
Advances from
Affiliated companies of Keystone - 100,000.00
customers
Sub-total - 100,000.00
Interest payable Jin Jiang Hotels Group and subsidiaries 34,941.80 856,835.10
Sub-total 34,941.80 856,835.10
- 152 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XI. COMMITMENTS AND CONTINGENCIES
1. Significant commitments
(1) Capital commitments
RMB000
30 June 2017 31 December 2016
Capital commitments that have been entered into agreements but have
not been recognized in the financial statements
-commitments for the acquisition of property, plant and equipment 166,031 169,451
- commitments for external investment - 328,806
Total 166,031 498,257
(2) Operating lease commitments
As of the balance sheet date, facts of external signed and non-cancelable operating lease of the Group are as
follows:
RMB000
30 June 2017 31 December 2016
Minimum lease payments under non-cancellable operating leases:
1st year subsequent to the balance sheet day 1,696,525 1,743,336
2nd year subsequent to the balance sheet day 1,645,341 1,697,111
3rd year subsequent to the balance sheet day 1,598,271 1,636,300
Subsequent periods 9,766,976 10,352,888
Total 14,707,113 15,429,635
2. Fulfillment of prior commitments
During financial reporting period, the prior commitments have been fully achieved.
3.Contingencies
At the end of reporting period, the Group has no significant contingencies that need to be disclosed
XII. EVENTS SUBSEQUENT TO THE BALANCE SHEET DATE
None
XIII. SEGMENT REPORTING
According to internal organization and management structure and internal reporting system, the Group identifies
four operation segments on basis of business type. The management of Group assigns resources and assesses
achievement according to periodical assessment on operation segments. On the basis of business nature, the
Group identified four reporting segments, including limited service hotels management and operation business
in Mainland China, limited service hotels management and operation business other than Mainland China, food
and catering business and other business. The products and labor services rendered by the reporting segments
are mainly domestic hotel services, overseas hotel services, catering services and other business.
Segment accounting policies are the accounting policies adopted for preparing the consolidated financial
statements or the financial statements of the enterprise.
Transfer price in segments is decided according to market price and indirect expenses are allocated to segment
by revenue proportion.
- 153 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIII. SEGMENT REPORTING- continued
1. Segment information
Segment information for the period from 1 January 2017 to 30 June 2017 is set out as below:
RMB
Limited service hotels
Limited service hotels
management and operation
management and operation Food and catering business Other business Inter-segment eliminations Total
business other than Mainland
business in Mainland China
China
Operating income
Revenue arising from external
4,370,282,061.86 1,793,923,433.91 124,717,759.51 89,895.25 - 6,289,013,150.53
transactions
Revenue arising from inter-segment
261,230.90 9,387,400.47 2,320,435.45 997,683.42 (12,966,750.24) -
transactions
Total operating income 4,370,543,292.76 1,803,310,834.38 127,038,194.96 1,087,578.67 (12,966,750.24) 6,289,013,150.53
Operating cost
Cost arising from external transactions 404,546,375.56 139,497,160.93 59,700,696.88 30,888.06 - 603,775,121.43
Cost arising from inter-segment
- - 1,550,708.03 540,540.54 (2,091,248.57) -
transactions
Total operating cost of segments 404,546,375.56 139,497,160.93 61,251,404.91 571,428.60 (2,091,248.57) 603,775,121.43
Less: Taxes and levies 29,589,376.01 76,727,498.40 176,127.61 122,466.74 - 106,615,468.76
Selling expenses 2,485,945,016.05 1,047,881,790.65 30,367,671.69 - (261,230.90) 3,563,933,247.49
Administrative expenses 1,006,656,207.37 380,081,907.24 46,654,343.48 34,367,070.13 (10,614,270.77) 1,457,145,257.45
Financial expenses 44,388,448.20 86,824,763.67 558,609.91 92,990,946.66 (5,993,170.44) 218,769,598.00
Impairment losses of assets 17,582,339.07 (8,662,315.08) 4,847,362.25 - - 13,767,386.24
Add: Profits or losses arising from
- - - - - -
changes in fair values
Investment income 30,106,244.37 21,823,254.22 121,875,378.65 93,395,355.63 (5,993,170.44) 261,207,062.43
Carrying amount of operating profit of segments 17,100,017.83 1,000,000.00 - - - 18,100,017.83
Non-operating income 429,041,792.70 103,783,282.79 105,058,053.76 (33,568,977.83) - 604,314,151.42
Non-operating expenses 11,124,968.80 2,310,092.21 1,182,123.66 355,096.53 - 14,972,281.20
Total carrying amount of operating profit of segments 25,942,691.18 656,509.30 43,046.06 1,080.68 - 26,643,327.22
Income tax 414,224,070.32 105,436,865.70 106,197,131.36 (33,214,961.98) - 592,643,105.40
Net carrying amount of profit of segments 135,984,801.45 29,580,270.49 1,105,311.35 321,167.07 - 166,991,550.36
Less: Amortization of the balance between fair value
of identifiable assets of the aquiree exceeding its 278,239,268.87 75,856,595.21 105,091,820.01 (33,536,129.05) - 425,651,555.04
carrying amount at the acquisition date (Note)
Net profit 45,837,035.38 (71,257,711.22) - - - (25,420,675.84)
Profit or loss attributable to minority interests 232,402,233.49 147,114,306.43 105,091,820.01 (33,536,129.05) - 451,072,230.88
Total profit attributable to owners of the parent
41,098,266.37 (2,394,025.62) (85,699.28) - - 38,618,541.47
company
Operating income 191,303,967.12 149,508,332.05 105,177,519.29 (33,536,129.05) - 412,453,689.41
- 154 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIII. SEGMENT REPORTING - continued
1. Segment information - continued
Segment information for the period from 1 January 2017 to 30 June 2017 is set out as below: - continued
RMB
Limited service hotels Limited service hotels management
Inter-segment
management and operation and operation business other than Food and catering business Other business Total
eliminations
business in Mainland China Mainland China
Total assets 22,908,121,675.20 13,407,076,194.27 289,249,714.21 6,506,226,937.17 (824,271,478.24) 42,286,403,042.61
Including: segment assets 13,463,264,230.37 6,117,160,462.91 101,240,799.28 6,446,859,109.86 (824,271,478.24) 25,304,253,124.18
Carrying amount of long-term equity investment of segments 50,859,056.28 90,312,836.61 188,008,914.93 59,367,827.31 - 388,548,635.13
Balance of amortized amount of fair value of net identifiable assets
2,866,349,689.90 2,356,727,486.01 - - - 5,223,077,175.91
exceeding its carrying amount at the acquisition date(note)
Goodwill 6,527,648,698.65 4,842,875,408.74 - - - 11,370,524,107.39
Total liabilities 7,011,724,416.57 12,320,904,107.04 133,123,645.07 9,121,380,527.13 (537,733,174.61) 28,049,399,521.20
Including: segment liabilities 6,295,136,994.09 11,625,583,401.20 133,123,645.07 9,121,380,527.13 (537,733,174.61) 26,637,491,392.88
Balance of amortized amount of fair value of net identifiable assets
716,587,422.48 695,320,705.84 - - - 1,411,908,128.32
exceeding its carrying amount at the acquisition date(note)
Supplemental information:
Depreciation 156,310,518.43 206,764,968.09 1,494,595.43 367,563.76 - 364,937,645.71
Amortization 383,053,744.07 19,748,616.12 1,244,009.65 155,675.28 - 404,202,045.12
Interest income 9,699,576.20 570,325.15 130,145.42 109,993,799.96 - 120,393,846.73
Interest expenses 34,960,738.38 75,490,443.17 558,941.73 192,453,140.52 (5,993,170.44) 297,470,093.36
Impairment losses recognized(reversed)
17,582,339.07 (8,662,315.08) 4,847,362.25 - - 13,767,386.24
in the current period
Investment income(loss) from
long-term equity investments (565,518.56) 1,814,512.95 60,324,918.36 (8,162,508.19) - 53,411,404.56
under equity method of accounting
Amount of long-term equity
investments under equity method 50,859,056.28 90,312,836.61 188,008,914.93 59,367,827.31 - 388,548,635.13
of accounting
Non-current assets except for
18,445,026,877.09 11,844,295,595.59 38,323,400.98 1,211,446,400.29 (593,170,497.54) 30,945,921,776.41
long-term equity investment
Capital expenditure 239,655,251.89 79,208,267.62 131,543.02 633.21 - 318,995,695.74
Including: Expenditure arising from construction in progress 202,135,728.85 43,263,131.34 - - - 245,398,860.19
Expenditure arising from
29,802,048.61 33,606,534.03 61,286.61 633.21 - 63,470,502.46
acquisition of fixed assets
Expenditure arising from acquisition of intangible assets 875,470.43 1,188,230.22 70,256.41 - - 2,133,957.06
Expenditure arising from acquisition
6,842,004.00 1,150,372.03 - - - 7,992,376.03
of long-term prepaid expenses
Note: The amounts represent amortized amounts of fair value of identifiable assets and liabilities exceeding their carrying amount during the reporting period and relevant
balance thereof at the end of the reporting period under the Groups acquisition of Smartel, GDL, Keystone, Vienna and Longevity Village not involving enterprises
under common control.
- 155 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIII. SEGMENT REPORTING - continued
1. Segment information - continued
Segment information for the period from 1 January 2016 to 30 June 2016 is set below:
RMB
Limited service hotels
Limited service hotels
management and operation
management and operation Food and catering business Other business Inter-segment eliminations Total
business other than Mainland
business in Mainland China
China
Operating income
Revenue arising from external
2,534,325,678.75 1,712,732,867.08 121,007,908.32 114,631.11 - 4,368,181,085.26
transactions
Revenue arising from inter-segment
275,000.00 - 2,463,113.37 727,108.62 (3,465,221.99) -
transactions
Total operating income 2,534,600,678.75 1,712,732,867.08 123,471,021.69 841,739.73 (3,465,221.99) 4,368,181,085.26
Operating cost
Cost arising from external transactions 242,381,268.54 131,689,793.90 60,014,967.58 10,296.02 - 434,096,326.04
Cost arising from inter-segment
- - 1,633,082.07 580,180.18 (2,213,262.25) -
transactions
Total operating cost of segments 242,381,268.54 131,689,793.90 61,648,049.65 590,476.20 (2,213,262.25) 434,096,326.04
Less: Taxes and levies 78,612,621.84 - 4,625,600.15 159,134.64 - 83,397,356.63
Selling expenses 1,577,688,928.95 968,303,454.24 34,675,945.36 - (275,000.00) 2,580,393,328.55
Administrative expenses 444,714,837.92 424,078,283.51 38,293,774.83 31,776,829.50 (976,959.74) 937,886,766.02
Financial expenses 38,826,648.44 87,922,544.18 312,780.20 104,069,177.88 (1,613,076.23) 229,518,074.47
Impairment losses of assets 14,139,150.75 414,261.57 (43,431.60) - - 14,509,980.72
Add: Profits or losses arising from
- - - - - -
changes in fair values
Investment income 2,512,860.57 4,026,440.17 92,287,558.52 235,790,509.44 (1,613,076.23) 333,004,292.47
Carrying amount of operating profit of
140,750,082.88 104,350,969.85 76,245,861.62 100,036,630.95 - 421,383,545.30
segments
Non-operating income 26,208,109.82 40,287,892.76 3,569,621.14 11,167,447.14 - 81,233,070.86
Non-operating expenses 7,756,370.83 5,464,123.28 214,796.96 21,013.41 - 13,456,304.48
Total carrying amount of operating profit
159,201,821.87 139,174,739.33 79,600,685.80 111,183,064.68 - 489,160,311.68
of segments
Income tax 51,754,157.02 62,003,072.21 1,353,265.78 22,737,087.19 - 137,847,582.20
Net carrying amount of profit of segments 107,447,664.85 77,171,667.12 78,247,420.02 88,445,977.49 - 351,312,729.48
Less: Amortization of the balance
between fair value of identifiable
assets of the aquiree exceeding 21,694,485.43 26,226,117.32 - - - 47,920,602.75
its carrying amount at the
acquisition date (Note)
Net profit 85,753,179.42 50,945,549.80 78,247,420.02 88,445,977.49 - 303,392,126.73
Profit or loss attributable to minority
3,129,799.35 1,780,030.55 (675,036.18) - - 4,234,793.72
interests
Total profit attributable to owners of the
82,623,380.07 49,165,519.25 78,922,456.20 88,445,977.49 - 299,157,333.01
parent company
- 156 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIII. SEGMENT REPORTING - continued
1. Segment information - continued
Segment information for the period from 1 January 2016 to 30 June 2016 is set below:- continued
RMB
Limited service hotels Limited service hotels management
Inter-segment
management and operation and operation business other than Food and catering business Other business Total
eliminations
business in Mainland China Mainland China
Total assets 19,630,459,474.54 12,808,014,525.31 283,874,092.04 10,830,338,514.27 (650,378,590.22) 42,902,308,015.94
Including: segment assets 12,016,853,256.83 5,942,084,225.31 107,225,700.66 10,828,343,178.11 (650,378,590.22) 28,244,127,770.69
Carrying amount of long-term equity investment of segments 29,269,435.57 91,933,587.45 176,648,391.38 1,995,336.16 - 299,846,750.56
Balance of amortized amount of fair value of net identifiable
1,848,156,172.39 2,343,919,737.33 - - - 4,192,075,909.72
assets exceeding its carrying amount at the acquisition date
Goodwill 5,736,180,609.75 4,430,076,975.22 - - - 10,166,257,584.97
Total liabilities 6,550,503,885.75 12,043,205,946.80 108,542,346.46 15,399,505,687.81 (391,223,044.23) 33,710,534,822.59
Including: segment liabilities 6,023,898,023.29 11,236,194,381.20 108,542,346.46 15,399,505,687.81 (391,223,044.23) 32,376,917,394.53
Balance of amortized amount of fair value of net identifiable
assets exceeding its carrying amount at the acquisition 526,605,862.46 807,011,565.60 - - - 1,333,617,428.06
date(note)
Supplemental information:
Depreciation 126,949,141.54 161,394,698.18 2,182,521.29 372,448.98 - 290,898,809.99
Amortization 260,468,326.60 18,967,521.00 1,368,157.38 155,675.28 - 280,959,680.26
Interest income 7,162,629.68 645,201.06 147,420.86 107,858,377.92 - 115,813,629.52
Interest expenses 38,727,101.41 73,209,868.47 267,650.92 218,483,743.69 (1,613,076.23) 329,075,288.26
Impairment losses recognized(reversed)
14,139,150.75 414,261.57 (43,431.60) - - 14,509,980.72
in the current period
Investment income(loss) from
long-term equity investments (1,344,714.88) 4,107,782.56 47,787,129.17 - - 50,550,196.85
under equity method of accounting
Amount of long-term equity
investments under equity method 29,269,435.57 91,933,587.45 176,648,391.38 1,995,336.16 - 299,846,750.56
of accounting
Non-current assets except for
16,605,907,084.61 11,192,983,490.25 42,038,398.30 5,397,153,823.90 (278,966,435.99) 32,959,116,361.07
long-term equity investment
Capital expenditure 252,532,367.98 127,498,120.08 1,172,476.45 - - 381,202,964.51
Including: Expenditure arising from construction in progress 228,990,842.26 88,344,505.98 902,197.28 - - 318,237,545.52
Expenditure arising from acquisition
21,576,222.14 38,244,335.30 120,401.09 - - 59,940,958.53
of fixed assets
Expenditure arising from acquisition
551,456.36 754,330.47 - - - 1,305,786.83
of intangible assets
Expenditure arising from acquisition
1,413,847.22 154,948.33 149,878.08 - - 1,718,673.63
of long-term prepaid expenses
2. Principal business of the Group includes hotel operation and management, food and catering service etc. The business of the Group is highly diversified and the Group does
not rely on any specific customers.
- 157 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS
1.Cash and bank balances
RMB
30 June 2017 31 December 2016
Amount in Amount in
Item Exchang Exchange
Foreign Amount in RMB Foreign Amount in RMB
e rate rate
Currency Currency
Cash:
RMB 273,271.25 255,824.40
Bank balances:
RMB (Note 1) 3,842,479,503.46 3,418,591,656.82
USD 64,897,428.11 6.7744 439,642,304.72 64,853,801.96 6.9370 449,890,824.19
Deposit in other financial
institutions(Note 2):
RMB 376,105,530.64 375,892,371.70
Total 4,658,500,610.07 4,244,630,677.11
Note1: The bank balance includes the Company's pledged deposits of RMB 3,306,492,000.00 (Opening
Balance: RMB 1,417,068,000.00) for the guarantee of borrowings to subsidiaries. For details please
reference to Note (V) 28.
Note 2: Deposit in other financial institution represents the amount deposited in Finance Company.
2.Accounts receivable
(1) Disclosure of accounts receivable by categories:
RMB
30 June 2017 31 December 2016
Carrying amount Bad debts provision Carrying amount Bad debts provision
Category
Ratio Ratio Book value Ratio Ratio Book value
Amount (%) Amount (%) Amount (%) Amount (%)
Accounts receivable that
are individually significant
and for which bad debt - - - - - - - - - -
provision has been
assessed individually
Accounts receivable for
which bad debt provision
14,785,445.53 100.00 144,115.93 0.97 14,641,329.60 5,711,407.25 100.00 107,795.06 1.89 5,603,612.19
have been assessed by
credit risk portfolio
Accounts receivable that
are not individually
significant but for which - - - - - - - - - -
bad debt provision has
been assessed individually
Total 14,785,445.53 100.00 144,115.93 0.97 14,641,329.60 5,711,407.25 100.00 107,795.06 1.89 5,603,612.19
Bad debt provision of the accounts receivable that recognized by aging analysis
RMB
30 June 2017
Aging
Amount Bad debt provision Ratio (%)
Within 3 months 9,937,055.50 - -
3 to 6 months 4,551,716.22 22,617.24 0.50
6 to 12 months 233,566.83 58,391.71 25.00
More than 12 months 63,106.98 63,106.98 100.00
Total 14,785,445.53 144,115.93 0.97
(2) Provision, recovery or reversal of bad debts provisions for the period
RMB
Item 31 December 2016 Provision Reversal Write-off 30 June 2017
Bad debts provision 107,795.06 92,111.08 (55,790.21) - 144,115.93
- 158 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
2. Accounts receivable - continued
(3) Top five entities with the largest balances of accounts receivable
RMB
Relationship Proportion of the amount
Name of entity with the Amount to the total accounts Bad debt provision
Company receivable (%)
Beijing Three Fast Technology Co., Ltd. The third party 1,185,275.40 8.02 28,000.28
Huitong Baida Network Technology(Shanghai)
The related party 518,566.83 3.51 1,200.15
Co., Ltd.
Shanghai Jingyinghui Catering Co., Ltd. The third party 823,485.67 5.57 78,020.83
Ctrip International Ltd. The third party 369,436.51 2.50 -
Beijing Qunar Software Technology Co., Ltd The third party 340,350.00 2.30 1,701.75
Total 3,237,114.41 21.90 108,923.01
3.Interest receivable
RMB
Item 30 June 2017 31 December 2016
Term deposits at banks 337,269,638.82 130,828,470.84
Finance Company term deposit 12,280,000.00 9,880,000.00
Entrusted loan 299,908.66 366,945.33
Total 349,849,547.48 141,075,416.17
4.Dividends receivable
RMB
Reasons for
Item 31 December 2016 Addition Deduction 30 June 2017 Impaired or not
outstanding
Aging within 1 year
Yet to be
(1) Jin Jiang Inn - 130,000,000.00 - 130,000,000.00 None
distributed
Yet to be
(2)Jin Jiang Food - 720,000.00 (360,000.00) 360,000.00 None
distributed
(3)Louvre Asia - 47,000,000.00 (47,000,000.00) - -- --
(4)Chang Jiang Security Co.,
- 7,950,000.00 (7,950,000.00) - -- --
Ltd.
(5)Shenwan Hongyuan Co.,
1,496,956.40 (1,496,956.40) - -- --
Ltd.
(6)Hangzhou Kentucky Fried Yet to be
14,579,808.60 38,964,078.50 (22,372,203.48) 31,171,683.62 None
Chicken Co., Ltd. distributed
(7)Suzhou Kentucky Fried Yet to be
- 15,461,142.53 (9,600,000.00) 5,861,142.53 None
Chicken Co., Ltd. distributed
(8)Wuxi Kentucky Fried Yet to be
- 7,125,239.26 (4,000,000.00) 3,125,239.26 None
Chicken Co., Ltd. distributed
(9)Shanghai Kentucky Fried
- 87,297,483.35 (87,297,483.35) - -- --
Chicken Co., Ltd.
(10)Shanghai New Asia
- 4,592,000.00 (4,592,000.00) - -- --
Fulihua Catering Co., Ltd.
(11) Others - 97,945.92 (97,945.92) - -- --
Total 14,579,808.60 340,704,845.96 (184,766,589.15) 170,518,065.41 -- --
As at the end of reporting period, there is no outstanding balance of dividends receivable aging more than one
year
- 159 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
5.Other receivables
(1) Disclosure of other receivables by category
RMB
30 June 2017 31 December 2016
Carrying amount Bad debts provision Carrying amount Bad debts provision
Category
Ratio Ratio Book value Ratio Ratio Book value
Amount (%) Amount (%) Amount (%) Amount (%)
Other receivables that are
individually significant and
for which bad debt provision 90,999,073.08 89.12 - - 90,999,073.08 93,776,139.56 87.78 - - 93,776,139.56
has been assessed
individually
Other receivables for which
bad debt provision have been
- - - - - - - - - -
assessed by credit risk
portfolio
Other receivables that are not
individually significant but
for which bad debt provision 11,111,846.65 10.88 606,265.93 5.46 10,505,580.72 13,060,648.82 12.22 606,265.93 4.64 12,454,382.89
has been assessed
individually
Total 102,110,919.73 100.00 606,265.93 0.59 101,504,653.80 106,836,788.38 100.00 606,265.93 0.57 106,230,522.45
(2) Provision, recovery or reversal of bad debts provisions for the period
During the reporting period, the bad debt amount of other receivables remain unchanged.
(3) Other receivables by nature
RMB
Nature 30 June 2017 31 December 2016
Advance money for related parties 98,953,438.27 103,469,125.76
Deposits and guarantees 543,370.38 539,520.38
Business working capital 196,930.08 197,000.00
Other 1,810,915.07 2,024,876.31
Total 101,504,653.80 106,230,522.45
(4) Top five entities with the largest balances of other receivables
RMB
Proportion of the Closing
Relationship
amount to the balance of
Name of entity Nature with the Amount Aging
other receivables bad debt
Company
(%) provision
Advance money for
Da Hua Hotel Subsidiary 47,735,046.40 2-7 years 46.75 -
related parties
Advance money for
Minhang Hotel Subsidiary 25,386,432.78 1-5 years 24.86 -
related parties
Advance money for
Jin Jiang Inn Subsidiary 9,268,780.08 1-4 years 9.08 -
related parties
Advance money for
Louvre Asia Subsidiary 8,608,813.82 1-5 years 8.43 -
related parties
Food and Beverage Advance money for
Subsidiary 3,278,337.51 2-7 years 3.21 -
Serving Equipment related parties
Total 94,277,410.59 92.33 -
6. Inventories
RMB
30 June 2017 31 December 2016
Provision for Provision for
Item Carrying
Carrying amount the decline in Book value the decline in Book value
amount
value value
Raw material 807,679.31 - 807,679.31 1,082,738.19 - 1,082,738.19
Goods in stock 2,247,680.23 - 2,247,680.23 1,569,993.79 - 1,569,993.79
Total 3,055,359.54 - 3,055,359.54 2,652,731.98 - 2,652,731.98
- 160 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
7.Other current assets
RMB
Item 30 June 2017 31 December 2016
Entrusted loans (Note(XIV)30(5)) 4,500,000.00 17,500,000.00
VAT 771,762.35 1,346,507.52
Income tax 10,605,457.92 9,297,417.63
Deferred expenses 127,747.95 -
Total 16,004,968.22 28,143,925.15
8. Long-term receivables
RMB
30 June 2017 31 December 2016
Capital appropriation from related parties 10,328,000.00 10,328,000.00
Total 10,328,000.00 10,328,000.00
The balance of long-term receivables is current capital appropriation from New Asia Food
9. Long-term equity investments
(1) Details of long-term equity investments are as follows
RMB
Item 30 June 2017 31 December 2016
Investments in subsidiaries 14,164,247,303.87 14,164,247,303.87
Investments in associates 245,252,536.47 219,590,171.09
Total 14,409,499,840.34 14,383,837,474.96
Less: Provision for impairment loss of long-term equity
2,051,300.00 2,051,300.00
investments
Net value of long-term equity investments 14,407,448,540.34 14,381,786,174.96
(2) Movements of provision for impairment of long-term equity investments for the period:
RMB
31 December
Investee Addition Deduction 30 June 2017
2016
Subsidiary
Shanghai Food and Beverage
Serving Equipment Co.,
2,051,300.00 - - 2,051,300.00
Ltd.(Food and Beverage Serving
Equipment)
Total 2,051,300.00 - - 2,051,300.00
- 161 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
9. Long-term equity investments - continued
(3) Details of long-term equity investments in subsidiary are as follows:
RMB
Remark on
Impairment Equity interest in Voting right in inconsistent
Provision for
Investee Accounting Method Initial investments 31 December 2016 Addition loss provided 30 June 2017 the investee the investee between equity
impairment loss
for the period (%) (%) interest and
voting right
Subsidiary
Keystone Cost Method 8,132,540,000.00 8,132,540,000.00 - - 8,132,540,000.00 81.0034% 81.0034% N/A
Vienna Cost Method 1,748,800,000.00 1,748,800,000.00 - - 1,748,800,000.00 80% 80% N/A -
Longevity Village Cost Method 800,000.00 800,000.00 - - 800,000.00 80% 80% N/A -
Hotels Investment Cost Method 1,733,088,660.71 2,033,088,660.71 - - 2,033,088,660.71 100% 100% N/A -
Smartel Cost Method 686,345,057.89 1,286,345,057.89 - - 1,286,345,057.89 100% 100% N/A -
Jin Jiang Inn Cost Method 377,261,176.09 377,261,176.09 - - 377,261,176.09 100% 100% N/A -
Jin Lu Investment Cost Method 1,000,000.00 350,000,000.00 - - 350,000,000.00 100% 100% N/A -
Catering Investment Cost Method 149,804,836.13 149,804,836.13 - - 149,804,836.13 100% 100% N/A -
Louvre Asia Cost Method 50,000,000.00 50,000,000.00 - - 50,000,000.00 100% 100% N/A -
Da Hua Hotel Cost Method 18,692,739.64 18,692,739.64 - - 18,692,739.64 100% 100% N/A -
Minhang Hotel(Note) Cost Method 5,505,600.00 5,505,600.00 - - 5,505,600.00 98.25% 98.25% N/A -
Jin Pan Hotel Cost Method 5,000,000.00 5,000,000.00 - - 5,000,000.00 100% 100% N/A -
Jin Jiang Food Cost Method 3,269,783.41 3,269,783.41 - - 3,269,783.41 18% 18% N/A -
Food and Beverage Cost Method N/A
2,051,300.00 2,051,300.00 - - 2,051,300.00 100% 100% 2,051,300.00
Serving Equipment
New Asia Food(Note) Cost Method 1,088,150.00 1,088,150.00 - - 1,088,150.00 5% 5% N/A -
Total 12,915,247,303.87 14,164,247,303.87 - - 14,164,247,303.87 2,051,300.00
Note1: The Company and its subsidiary Catering Investment hold shares in Minhang Hotel at a proportion of 98.25% and 1.75% respectively. The Company and its
subsidiary Catering Investment hold shares in New Asia Food at a proportion of 5% and 95% respectively.
- 162 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
9.Long-term equity investments - continued
(4) Details of long-term equity investments in associates are as follow:
RMB
Changes for the period
Closing balance
Initial 31 December Other
Investee Net profit 30 June 2017 of impairment
investment cost 2016 Addition of Deduction of comprehensive Other changes Cash dividend or Provision for
/(losses) using Others provision
investment investment income in equity profit declared impairment loss
equity method
adjustment
Associates
Shanghai Kentucky
Fried Chicken Co., 97,977,250.00 187,254,691.69 - - 56,616,425.56 - - (87,297,483.35) - - 156,573,633.90 -
Ltd.
Shanghai New Asia
Fulihua Catering Co., 14,350,000.00 30,203,975.52 - - 3,699,099.74 - - (4,592,000.00) - - 29,311,075.26 -
Ltd.
Shanghai Xinlu
Catering Development 2,719,227.00 2,131,503.88 - - 133,721.14 - - - - - 2,265,225.02 -
Co., Ltd.
Shanghai Qicheng
Network Technology 100,000,000.00 - 100,000,000.00 - (8,296,229.33) - (34,601,168.38) - - - 57,102,602.29 -
Co., Ltd.(NoteV(10))
Total 215,046,477.00 219,590,171.09 100,000,000.00 - 52,153,017.11 - (34,601,168.38) (91,889,483.35) - - 245,252,536.47 -
During the reporting period, the Company is not exposed to limitation on the transfer of funds from the investee. At end of period, the Group doesn't have unrecognized
investment loss
- 163 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
10. Fixed assets
Fixed assets:
RMB
Item Buildings Equipment Motor vehicles Decoration Total
I. Original carrying amount
1.31 December 2016 63,212,256.15 83,376,472.51 1,488,519.51 18,991,367.02 167,068,615.19
2.Addition - 3,153,474.67 - 735,794.84 3,889,269.51
(1)Purchase - 896,427.17 - - 896,427.17
(2) Transferred-in from
- 2,257,047.50 - 735,794.84 2,992,842.34
construction in progress
3.Deduction (1,583.79) (2,034,620.36) - - (2,036,204.15)
(1) Disposal or retirement - (36,677.15) - - (36,677.15)
(2) Construction clearing
(1,583.79) (1,997,943.21) - - (1,999,527.00)
adjustment
4.30 June 2017 63,210,672.36 84,495,326.82 1,488,519.51 19,727,161.86 168,921,680.55
II. Accumulated depreciation
1.31 December 2016 19,327,552.92 32,543,926.66 1,341,808.74 12,486,065.92 65,699,354.24
2. Addition-provision 1,343,757.92 5,043,192.97 4,601.28 1,487,915.26 7,879,467.43
3. Deduction- disposal or
- (31,392.45) - - (31,392.45)
retirement
4.30 June 2017 20,671,310.84 37,555,727.18 1,346,410.02 13,973,981.18 73,547,429.22
III. Provision for impairment
loss
1.31 December 2016 - - - - -
2.Addition - - - - -
3.Deduction - - - - -
4.30 June 2017 - - - - -
IV. Book Value
1.30 June 2017 42,539,361.52 46,939,599.64 142,109.49 5,753,180.68 95,374,251.33
2.31 December 2016 43,884,703.23 50,832,545.85 146,710.77 6,505,301.10 101,369,260.95
11.Construction in progress
(1) Details of construction in progress are as follows
RMB
30 June 2017 31 December 2016
Item Bad debt Bad debt
Carrying amount Net book value Carrying amount Net book value
provision provision
Renovation of JJ Metropolo,
- - - 22,120.00 - 22,120.00
Xincheng Hotel
Renovation of JJ Metropolo,
234,157.37 - 234,157.37 566,440.87 - 566,440.87
Xinya Grand Hotel
Renovation of JJ Metropolo,
27,641,084.66 - 27,641,084.66 25,340,899.05 - 25,340,899.05
South Huating Hotel
Renovation of JJ Metropolo,
43,510,266.98 - 43,510,266.98 39,010,320.94 39,010,320.94
Nanjing Hotel
Other Renovation 308,408.75 - 308,408.75 308,408.75 - 308,408.75
Total 71,693,917.76 - 71,693,917.76 65,248,189.61 - 65,248,189.61
- 164 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
11. Construction in progress - continued
`
(2) Movement of significant construction in progress
RMB
Including: Ratio of
Cumulative
Transfer to Transfer to Project in the amount of interest
31 December Transfer to fixed Rate of amount of Capital
Item Budget Addition long-term prepaid intangible 30 June 2017 proportion of interest capitalizati
2016 assets progress(%) interest resource
expenses assets Other decrease budgetary(%) capitalization on for this
capitalization
for this period period (%)
Renovation of JJ Metropolo, Self-financ
85,726,723.34 22,120.00 63,888.80 (16,187.82) (69,820.98) - - - 100% 100% - - -
Xincheng Hotel ing
Renovation of JJ Metropolo, Self-financ
138,851,455.92 566,440.87 1,381,430.10 (1,298,348.27) (415,365.33) - - 234,157.37 100% 100% - - -
Xinya Grand Hotel ing
Renovation of JJ Metropolo, Self-financ
46,002,906.00 25,340,899.05 2,300,185.61 - - - - 27,641,084.66 60.08% 60.08% - - -
South Huating Hotel ing
Renovation of JJ Metropolo, Self-financ
50,000,000.00 39,010,320.94 4,499,946.04 - - - - 43,510,266.98 87.00% 87% - - -
Nanjing Hotel ing
Other Renovation Self-financ
- 308,408.75 2,170,423.30 (1,678,306.25) (492,117.05) - - 308,408.75
ing
Total 320,581,085.26 65,248,189.61 10,415,873.85 (2,992,842.34) (977,303.36) - - 71,693,917.76
- 165 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
12.Intangible assets
RMB
Item Land use rights Others Total
I. Original carrying amount
1.31 December 2016 91,847,425.45 1,982,309.19 93,829,734.64
2. Purchase - 70,256.41 70,256.41
3. Transferred from construction in - - -
progress
4. Deduction - - -
5.30 June 2017 91,847,425.45 2,052,565.60 93,899,991.05
II. Accumulated amortization
1.31 December 2016 37,132,228.75 1,959,387.17 39,091,615.92
2. Addition-provision 1,171,202.88 8,683.69 1,179,886.57
3. Deduction - - -
4.30 June 2017 38,303,431.63 1,968,070.86 40,271,502.49
III. Provision for impairment losses
1.31 December 2016 - - -
2.Addition - - -
3.Deduction - - -
4.30 June 2017 - - -
IV. Book Value
1.30 June 2017 53,543,993.82 84,494.74 53,628,488.56
2.31 December 2016 54,715,196.70 22,922.02 54,738,118.72
13.Long-term prepaid expenses
RMB
Others
Item 31 December 2016 Addition(Note) Amortization 30 June 2017
reduction(Note)
Leasehold improvement of
118,169,316.15 410,298.41 (5,276,730.78) (4,020.99) 113,298,862.79
fixed assets
Leasehold decoration of fixed
74,396,423.50 567,004.95 (7,705,864.69) (136,699.40) 67,120,864.36
assets
Total 192,565,739.65 977,303.36 (12,982,595.47) (140,720.39) 180,419,727.15
Note: Addition for the period includes long-term prepaid expenses transferred from construction in progress
amounted to RMB 977,303.36. Deduction for the period includes the construction completion
adjustment amounted to RMB 140,720.39.
14. Other non-current assets
RMB
Item 30 June 2017 31 December 2016
Entrusted loans (Note(XIV)30(5)) 280,000,000.00 300,000,000.00
Pledged deposit due after one year - 3,306,492,000.00
Interest receivable from pledged deposit due after one - 224,510,806.80
Total
year 280,000,000.00 3,831,002,806.80
- 166 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
15.Deferred tax assets/Deferred tax liabilities
(1) Deferred tax assets before offsetting are set below
RMB
30 June 2017 31 December 2016
Item Deductible Deductible
Deferred tax
temporary temporary Deferred tax assets
assets
differences differences
Employee benefits payable 21,507,121.85 5,376,780.47 23,605,547.57 5,901,386.90
Provision for impairment losses 5,750,381.86 1,437,595.46 5,714,060.99 1,428,515.25
Government subsidy 4,785,000.00 1,196,250.00 5,127,650.00 1,281,912.50
Operating lease fee 4,084,600.04 1,021,150.01 3,860,114.30 965,028.58
Advances of membership card and
deferred revenue on 1,267,481.95 316,870.49 1,597,004.39 399,251.10
membership points
Total 37,394,585.70 9,348,646.43 39,904,377.25 9,976,094.33
(2) Deferred tax liabilities before offsetting are set below
RMB
30 June 2017 31 December 2016
Item Taxable
Taxable temporary Deferred tax Deferred tax
temporary
differences liabilities liabilities
differences
Changes in fair value of
available-for-sale financial assets
517,761,686.76 129,440,421.69 656,719,052.52 164,179,763.16
recognized in other comprehensive
income
Total 517,761,686.76 129,440,421.69 656,719,052.52 164,179,763.16
(3) Deferred tax assets or liabilities after offsetting are set below
RMB
30 June 2017 31 December 2016
Deferred tax Offsetting Deferred tax assets
Item Offsetting between assets or Deferred between deferred or Deferred tax
deferred tax assets tax liabilities after tax assets and liabilities after
and deferred tax offsetting deferred tax offsetting
liabilities liabilities
Deferred tax assets 9,348,646.43 - 9,976,094.33 -
Deferred tax liabilities 9,348,646.43 120,091,775.26 9,976,094.33 154,203,668.83
Explanation for deferred tax assets and deferred tax liabilities
Deferred tax assets have not been recognized for the following deductible temporary differences and deductible
losses:
RMB
Item 30 June 2017 31 December 2016
Deductible losses (Note) 51,720,890.57 -
Total 51,720,890.57 -
Note: The deductible losses for which deferred tax assets have not been recognized will be due in the following
year:
RMB
Item 30 June 2017 31 December 2016
2022 51,720,890.57 -
Total 51,720,890.57 -
- 167 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
16.Provision for impairment loss of assets
RMB
31 December Deduction
Item Addition 30 June 2017
2016 Reversal Write-off
I. Provision for bad debt 714,060.99 92,111.08 (55,790.21) - 750,381.86
II. Provision for impairment loss of
- - - - -
inventories
III. Provision for impairment loss of
- - - - -
available-for- sale financial assets
IV. Provision for impairment loss of
- - - - -
held-to-maturity financial assets
V. Provision for impairment loss of
2,051,300.00 - - - 2,051,300.00
long-term equity investments
VI. Provision for impairment loss of
- - - - -
investment property
VII. Provision for impairment loss of
- - - - -
fixed assets
VIII. Provision for impairment loss of
- - - - -
construction materials
IX. Provision for impairment loss of
- - - - -
construction in progress
X. Provision for impairment loss of
- - - - -
bearer biological assets
Including: provision for impairment loss of
- - - - -
mature bearer biological assets
XI. Provision for impairment loss of oil
- - - - -
and gas assets
XII. Provision for impairment loss of
- - - - -
intangible assets
XIII. Provision for impairment loss of
- - - - -
goodwill
XIV. Others - - - - -
Total 2,765,360.99 92,111.08 (55,790.21) - 2,801,681.86
17.Short-term borrowings
RMB
Item 30 June 2017 31 December 2016
Credit borrowings- Bank (Note) 930,000,000.00 2,400,000,000.00
Credit borrowings - Other financial institution
- 800,000,000.00
(Note(V)19)
Credit borrowings - Entrusted borrowings - 50,000,000.00
Total 930,000,000.00 3,250,000,000.00
Note: At the end of the reporting period, the Group received borrowings of RMB430,000,000.00 from Bund
Branch of China Merchants Bank, RMB300,000,000.00 from Bank of Shanghai Xuhui Branch, and
RMB200,000,000.00 from SRCB respectively, with all annual interest rate of 3.915%.
18.Employee benefits payable
(1) List of employee benefits payable
RMB
31 December
Item Addition Deduction 30 June 2017
2016
1.Short-term wages or salaries payable 15,412,687.88 59,772,949.38 (49,549,391.57) 25,636,245.69
2.Post-employment benefits-defined
52,685.06 6,234,530.56 (6,185,031.56) 102,184.06
contribution plan
3.Termination compensation 15,261,897.94 191,713.80 (2,290,139.52) 13,163,472.22
Total 30,727,270.88 66,199,193.74 (58,024,562.65) 38,901,901.97
- 168 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
18. Employee benefits payable - continued
(2) List of short-term employee benefits payable
RMB
31 December
Item Addition Deduction 30 June 2017
2016
1. Wages or salaries, bonus, allowance,
14,788,627.65 51,460,403.47 (41,383,024.24) 24,866,006.88
subsidies
2. Staff welfare - 2,391,678.14 (2,391,678.14) -
3. Social security 16,744.69 2,805,427.16 (2,805,427.16) 16,744.69
Included: Medical insurance 16,102.08 2,467,606.05 (2,467,606.05) 16,102.08
Work injury insurance 405.17 88,900.27 (88,900.27) 405.17
Maternity insurance 237.44 248,920.84 (248,920.84) 237.44
4. Housing fund 348.00 2,245,964.00 (2,245,073.00) 1,239.00
5. Labor union and education
606,967.54 731,476.61 (586,189.03) 752,255.12
fund
6.Others - 138,000.00 (138,000.00) -
Total 15,412,687.88 59,772,949.38 (49,549,391.57) 25,636,245.69
(3) Defined contribution plan
RMB
31 December
Item Addition Deduction 30 June 2017
2016
1.Annuity insurance 47,869.18 6,006,989.62 (5,957,490.62) 97,368.18
2.Unemployment insurance 4,815.88 227,540.94 (227,540.94) 4,815.88
Total 52,685.06 6,234,530.56 (6,185,031.56) 102,184.06
The Company follows policies to join in pension insurance and unemployment insurance plans which are
established by government. According to these plans, the company follows 21% and 1.5% of monthly average
salaries of last year to deposit payments for these plans monthly. And the Company does not assume further
obligations. Corresponding expenditures incurred are included in profit or loss or costs of related assets.
The Company is supposed to deposit RMB 6,006,989.62 and RMB 227,540.94 to pension and unemployment
insurance plan respectively for the period from 1 January 2017 to 30 June 2017 (for the period from 1 January
2016 to 30 June 2016:RMB 5,429,102.07and RMB 275,880.00). On 30 June 2017, the Company had RMB
97,368.18 and RMB 4,815.88(31 December 2016:RMB 47,869.18 and RMB 4,815.88) to deposit for overdue
and unpaid annuity insurance and unemployment insurance, during the financial statement reporting period. The
related payable fees have been paid after financial reporting period.
19.Taxes payable
RMB
Item 30 June 2017 31 December 2016
Individual income tax 114,346.08 339,275.63
Property tax 72,731.95 72,731.94
Others 1,989,469.86 7,581,695.43
Total 2,176,547.89 7,993,703.00
- 169 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
20. Other payables
(1) Details of other payables are as follows
RMB
Item 30 June 2017 31 December 2016
Accrued taxes for replacement of significant assets
58,623,448.29 58,623,448.29
and attached transactions
Operating turnover 51,015,806.32 41,144,059.40
Accrued commission for equity acquisition 9,181,243.88 10,655,224.85
Accounts payable for the equity interest transfer of
9,796,303.25 9,796,303.25
Smartel
Accrued expenses 7,808,725.86 7,410,516.59
Payments on behalf of other 1,430,442.36 2,348,193.04
Consideration payable due to Vienna and Longevity
- 174,960,000.00
Village
Others 20,024,960.75 18,356,426.34
Total 157,880,930.71 323,294,171.76
(2) Explanations of other payables aged over 1 year with significant amount
At the end of the reporting period, other payables aged over 1 year with significant amount include:
The accrual amount of significant replacement and related transactions payment and involved taxation is RMB
58,623,448.29 that should be paid by the Company after the report and verification of the involved taxation.
The Company has to pay RMB 9,796,303.25 which is the amount of equity transfer to Smartel. This amount of
equity transfer is treated as deposit of transaction and will be paid after getting over of Smartel's flawed
business.
(3) Except for item (2), other payables of the Company mainly include accrues lease expenses, collection
charge on behalf of others, deposits, etc., which are related to daily operation.
21.Long-term borrowings
RMB
Item 30 June 2017 31 December 2016
Pledged borrowings(Note 1) 4,920,000,000.00 4,920,000,000.00
Credit borrowings (Note2) 3,000,000,000.00 3,000,000,000.00
Total 7,920,000,000.00 7,920,000,000.00
Less: Long-term borrowings due within one year 220,000,000.00 120,000,000.00
Long-term borrowings due after one year 7,700,000,000.00 7,800,000,000.00
Note1: As at end of the reporting period, the Company obtained borrowing of RMB 4,920,000,000.00 from
Export-Import Bank of China, of which RMB220,000,000.00 would be due within one year. Such
borrowing was pledged by 81.0034% equity of Keystone. The tenure of the borrowing is from 18
February 2016 to 18 February 2022. The annual interest rate is floating, and weighted average interest
rate is 3.25%.
Note2: As at the end of this reporting period, the Company received borrowings of RMB 1,900,000,000.00
from Shanghai Pudong Branch of China Construction Bank; RMB 500,000,000.00 from SRCB and RMB
600,000,000.00 from Shanghai Guomao Center sub-branch of Bank of China, carried floating interest
rate from 3.895% to 4.275% within the reporting period.
- 170 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
22.Other non-current liabilities
RMB
Item 30 June 2017 31 December 2016
Government grants 4,785,000.00 5,127,650.00
Less: Other non-current liabilities due within one year 739,750.00 739,750.00
Other non-current liabilities due after one year 4,045,250.00 4,387,900.00
Projects of government grants:
RMB
Included in other Related to assets
Item Opening balance Addition
income Closing balance /Related to income
Xincheng Hotel project funds 5,127,650.00 - 342,650.00 4,785,000.00 Related to assets
Total 5,127,650.00 - 342,650.00 4,785,000.00
23.Other comprehensive income
RMB
Amount incurred in the current period
Less: previously
recognized as other
Item 31 December 2016 comprehensive Amount Attributable 30 June 2017
Amount before Less: income tax
income and to owners of the
income tax expense
transferred to profit parent the after tax
or loss in the current
period
II Other comprehensive income that will be
496,039,633.30 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) 391,821,608.97
reclassified subsequently to profit or loss
Including: Profit or loss arising from changes
in fair value of available-for-sale 492,539,289.34 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) 388,321,265.01
financial assets
Shares of investee in other
comprehensive income that will be
3,500,343.96 - - - - 3,500,343.96
reclassified subsequently to profit or
loss under equity method
Total 496,039,633.30 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) 391,821,608.97
24. Operating income and operating costs
(1) Operating income and operating costs
RMB
For the period from 1 January 2017 to 30 For the period from 1 January 2016 to 30
Item June 2017 June 2016
Income Costs Income Costs
Principal business 115,948,040.50 14,713,938.82 78,175,534.71 9,964,392.46
Other business 997,683.42 571,428.60 727,108.62 590,476.20
Total 116,945,723.92 15,285,367.42 78,902,643.33 10,554,868.66
(2) Principal business by industries:
RMB
For the period from 1 January 2017 to 30 For the period from 1 January 2016 to 30
Industry June 2017 June 2016
Operating income Operating costs Operating income Operating costs
Limited service hotel operation and
management
Including: Room 96,191,069.01 - 62,840,487.25 -
Catering 8,747,652.96 7,138,220.99 5,191,508.68 3,926,028.67
Supplies 6,966,564.88 6,617,634.72 5,681,906.51 5,519,323.31
Others 4,042,753.65 958,083.11 4,461,632.27 519,040.48
Total 115,948,040.50 14,713,938.82 78,175,534.71 9,964,392.46
- 171 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
24. Operating income and operating costs - continued
(3) Top five clients contributed to the largest operating income
RMB
Proportion of the total
Name of client Operating income
operating income (%)
Green Mango Trade (Shenzhen) Co., Ltd. 557,170.00 0.48
Shanghai Yangpu Tang Palace Seafood Restaurant 497,166.32 0.42
Shanghai Hecheng International Travel Agency Co., Ltd. 485,536.10 0.42
Shanghai Jingyinghui Catering Co., Ltd 466,032.50 0.40
Beijing Qunar Software Technology Co., Ltd 444,787.00 0.38
Total 2,450,691.92 2.10
25.Costs and expense by nature
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Cost of goods sold 14,713,938.82 9,964,392.46
Employee benefits 66,199,193.74 48,650,365.39
Including: Wages or salaries 51,460,403.47 34,226,907.54
Social insurance 9,039,957.72 8,441,236.61
Housing funds 2,245,964.00 2,129,671.00
Welfare 2,391,678.14 2,095,688.33
Other expenditures 1,061,190.41 1,756,861.91
Energy fees and materials consumption 9,759,193.53 9,894,857.45
Depreciation and amortization 22,041,949.47 5,256,374.75
Rental of operating lease 14,160,994.58 18,679,254.33
Repair and maintenance fee 1,572,950.17 1,147,509.21
Property tax and other levies - 5,652,623.40
Agency expense 8,061,669.10 18,423,359.96
Advertising expense 3,413,656.18 1,356,834.02
Others 24,822,703.77 24,720,310.28
Total of operating cost, selling expense and
164,746,249.36 143,745,881.25
administrative expense
26. Financial expenses
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Interest expenses 200,037,584.35 228,108,880.73
Less: Interest income 110,022,324.63 107,895,698.94
Foreign exchange difference 10,019,349.47 (6,994,255.10)
Others 925,112.15 941,487.10
Total 100,959,721.34 114,160,413.79
- 172 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
27.Investment income
(1) Details of investment income are as follows:
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Investment income from long-term equity investments
52,153,017.11 48,821,164.65
under equity method
Investment income from long-term equity investments
177,720,000.00 196,846,000.00
under cost method
Investment income from available-for-sale financial
71,095,362.61 73,025,197.50
assets
Gains from disposal of available-for-sale
86,659,256.47 206,426,728.39
financial assets
Others 5,353,705.03 839,012.90
Total 392,981,341.22 525,958,103.44
(2) Investment income(losses) from long-term equity investment under equity method
RMB
For the period from 1 For the period from 1
Investee January 2017 to 30 June January 2016 to 30 June Reasons for the changes
2017 2016
Shanghai Kentucky Fried Profit increases due to the increase in
56,616,425.56 45,812,247.38
Chicken Co., Ltd. operating income
Shanghai New Asia Profit increases due to the increase in
3,699,099.74 2,879,467.78
Fulihua Catering Co., Ltd. operating income
Shanghai Xinlu Catering The profit for the current period is at par
133,721.14 129,449.49
Development Co., Ltd. with prior period
Shanghai Qicheng
It is invested and established in the
Network Technology Co., (8,296,229.33) -
current period
Ltd.
Total 52,153,017.11 48,821,164.65
(3) Investment income from long-term equity investments under cost method
RMB
For the period from 1 For the period from 1
Investee January 2017 to 30 June January 2016 to 30 June Reasons for the changes
2017 2016
Jin Jiang Inn 130,000,000.00 170,000,000.00 Dividend declared decreased
Louvre Asia 47,000,000.00 26,000,000.00 Dividend declared increased
The profit for the current period is at par
Jin Jiang Food 720,000.00 846,000.00
with prior period
Total 177,720,000.00 196,846,000.00
- 173 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
27. Investment income - continued
(4) Investment income from available-for-sale financial assets
RMB
For the period from 1 For the period from 1
Investee January 2017 to 30 January 2016 to 30 Reasons for the changes
June 2017 June 2016
Hangzhou Kentucky Fried
38,964,078.50 29,157,567.86 Dividend declared increased
Chicken Co., Ltd.
Chang Jiang Security Co., Ltd. 7,950,000.00 26,600,000.00 Dividend declared decreased
Suzhou Kentucky Fried Chicken Dividend declared increased
15,461,142.53 10,780,761.00
Co., Ltd.
Wuxi Kentucky Fried Chicken Dividend declared increased
7,125,239.26 4,691,549.98
Co., Ltd.
Shenwan Hongyuan Securities
1,496,956.40 1,663,284.90 Dividend declared decreased
Co., Ltd.
Others 97,945.92 132,033.76
Total 71,095,362.61 73,025,197.50
(5) Investment income from disposal of available-for-sale financial assets
RMB
For the period from 1 For the period from 1
Name of available-for-sale financial assets January 2017 to 30 June January 2016 to 30 June
2017 2016
Chang Jiang Security Co., Ltd.(Share code: 000783) 86,659,256.47 206,426,728.39
28. Notes to items in the cash flow statement
(1) Other cash receipts relating to operating activities
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Payment to agency fee for combinations 6,353,619.89 8,007,520.10
Down payment and prepayment for equity acquisition - 680,000,000.00
Estimated consideration for equity acquisition to be
- 473,750,000.00
recovered
Total 6,353,619.89 1,161,757,520.10
(2) Other cash receipts relating to financing activities
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Interest income arising from pledged term deposit for
55,310,295.96 19,364,837.12
obtaining borrowings
Recovery of due pledged time deposit for obtaining
1,417,068,000.00 -
borrowings
Total 1,472,378,295.96 19,364,837.12
- 174 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
29. Supplementary information to the cash flow statement
(1) Supplementary information to the cash flow statement
RMB
For the period from 1 For the period from 1
Supplementary information January 2017 to 30 June January 2016 to 30 June
2017 2016
1.Reconciliation of net profit to cash flow from operating
activities:
Net profit 243,619,780.24 344,179,859.49
Add: Provision for asset impairment 36,320.87 21,186.48
Depreciation of fixed assets 7,879,467.43 3,319,084.50
Amortization of intangible assets 1,179,886.57 1,175,095.57
Amortization of long-term prepaid expenses 12,982,595.47 762,194.68
Loss on disposal of fixed assets, intangible assets and
778.30 10,468.29
other long-term assets
Financial expenses 116,370,240.43 137,667,047.48
Investment loss (income) (392,981,341.22) (525,958,103.44)
Decrease (increase) in deferred tax assets 627,447.90 (1,426,500.22)
Decrease(increase) in inventory (402,627.56) 1,887,137.42
Decrease (increase) in operating receivables 37,106,498.13 (26,142,497.97)
Increase (decrease) in operating payables 29,129,477.34 (27,784,311.90)
Net cash flow from operating activities 55,548,523.90 (92,289,339.62)
2.Significant investing and financing activities that do not
involve cash receipts and payments
Fixed assets under finance lease - -
3.Net changes in cash and cash equivalents:
Cash at end of period 1,352,008,610.07 3,127,468,324.66
Less: Cash at beginning of period 2,827,562,677.11 2,289,364,648.62
Add: Cash equivalents at end of period - -
Less: Cash equivalents at beginning of period - -
Net increase(decrease) in cash and cash equivalents (1,475,554,067.04) 838,103,676.04
(2) Cash and cash equivalents
RMB
Item 30 June 2017 31 December 2016
I. Cash 1,352,008,610.07 2,827,562,677.11
Including: Cash on hand 273,271.25 255,824.40
Bank deposits that can be readily withdrawn on demand 1,351,735,338.82 2,827,306,852.71
II. Cash equivalents - -
III. Closing balance of cash and cash equivalents 1,352,008,610.07 2,827,562,677.11
30. Related party relationships and transactions
(1) Basic information of subsidiaries and associates of the Company refers to Note (VII). Basic information of
other related parties refers to Note(X).
- 175 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
30. Related party relationships and transactions - continued
(2) Purchase and sales of goods, rendering and receiving of service
Goods purchased and service received
RMB
For the period from 1 For the period from 1
Related parties Transactions January 2017 to 30 January 2016 to 30
June 2017 June 2016
Jin Jiang Inn Purchase of commodities 1,383,801.16 2,219,219.60
Food company Purchase of food - 8,657.18
Shanghai Jin Jiang International Hotel
Purchase of hotel commodities 5,987.60 2,839.20
Commodities Co., Ltd.
Sub-total 1,389,788.76 2,230,715.98
(3) Lease arrangement
The Company as lessor:
RMB
Rental income for the Rental income for the
Lessee Asset for leasehold
current period last period
Logistics Center and Road
Jinya Catering Gonghexin branch 731,016.73 780,180.18
Minhang Hotel Houses for leasehold 457,142.88 146,928.44
Sub-total 1,188,159.61 927,108.62
The Company as lessee:
RMB
Rental income for the Rental income for the
Lesser Asset for leasehold
current period last period
Jinshajiang Hotel Co., Ltd. (Note) Operation area - 5,038,607.22
Shanghai Hua Ting Guest House Co., Ltd. (Note) Operation area 4,070,080.86 4,089,584.90
Shanghai MAGNOTEL Hotel Co., Ltd. (Note) Operation area 4,229,649.60 4,017,495.30
Jinjiang International Office area and operation area 1,317,062.85 1,230,777.13
Shanghai Jin Jiang International Investment
Operation area 642,765.72 -
Management Co., LTD
Shanghai East Jin Jiang Hotel Co., Ltd. Office area 5,811.72 299,789.00
Shanghai Jin Jiang property Management Co., Ltd. Office area 78,765.71 48,512.00
Sub-total 10,344,136.46 14,724,765.55
Note: The Company signed "lease contract" with Shanghai Hua Ting Guest House Co., Ltd, Jinshajiang
Hotel Co., Ltd. and Shanghai MAGNOTEL Hotel Co., Ltd. respectively. Refer to Note (X)5(3) for
details.
(4) Details on entrusted operation and lease of related parties
The Company signed the "entrusted operation contract" with Jin Jiang Hotels Group and its subsidiary- Marvel
Hotel Shanghai. For details, please refer to Note (X)5(3).
- 176 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
30. Related party relationships and transactions - continued
(5) Loans to and from related parties
Transactions for the period and balance as at 30 June 2017:
RMB
Related party Amount of Inception date Maturity Date Remarks
borrowings/loans
Borrowed from:
Finance Company 200,000,000.00 18/02/2016 03/02/2017 Credit borrowings
Finance Company 100,000,000.00 20/12/2016 03/02/2017 Credit borrowings
Finance Company 100,000,000.00 20/12/2016 01/06/2017 Credit borrowings
Finance Company 400,000,000.00 20/12/2016 31/05/2017 Credit borrowings
Finance Company 200,000,000.00 17/01/2017 19/06/2017 Credit borrowings
Finance Company 100,000,000.00 04/02/2017 31/05/2017 Credit borrowings
Louvre Asia 50,000,000.00 17/06/2016 16/06/2017 Entrusted loan
Sub-total 1,150,000,000.00
RMB
Amount of
Related party Inception date Maturity Date Remarks
borrowings/loans
Lending to:
Jinya Catering 4,000,000.00 27/01/2016 26/01/2017 Entrusted loans
Jinya Catering 5,000,000.00 12/04/2016 11/04/2017 Entrusted loans
Jinya Catering 3,000,000.00 11/05/2016 10/05/2017 Entrusted loans
New Asia Food 1,000,000.00 26/01/2016 26/01/2017 Entrusted loans
Jinya Catering 4,500,000.00 12/07/2016 11/07/2017 Entrusted loans
Smartel 20,000,000.00 11/08/2016 21/06/2017 Entrusted loans
Smartel 280,000,000.00 11/08/2016 10/08/2019 Entrusted loans
Sub-total 317,500,000.00
Interest expense and income between the Company and the related parties are as follows:
RMB
For the period from 1 For the period from 1
Item January 2017 to 30 June January 2016 to 30 June
2017 2016
Interest expenses 13,030,499.99 18,517,560.36
Interest income 3,770,337.83 3,929,547.34
The Company deposited some settlement cash or idle cash in Finance Company. The closing balance and
transactions were as below:
RMB
Finance Company 30 June 2017 31 December 2016
Closing balance 376,105,530.64 375,892,371.70
- 177 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
30. Related party relationships and transactions - continued
(5) Loans to and from related parties - continued
RMB
For the period from 1 For the period from 1
Finance Company January 2017 to 30 June January 2016 to 30 June
2017 2016
Accumulated deposits at Finance Company for the period 2,381,971,305.77 2,511,339,004.39
Accumulated deposits withdrawn from Finance
2,381,758,146.83 1,946,071,506.93
Company for the period
(6) During the reporting period, no asset transfer with related parties or debt restructuring occurred.
(7) During the reporting period, no other related-party transactions occurred.
(8) Account receivables and payables with related parties
i) Accounts receivable
RMB
30 June 2017 31 December 2016
Item Related parties Bad debts Bad debts
Carrying amount Carrying amount
provision provision
Jin Jiang International and
Accounts receivable 196,575.90 - 963,484.48 -
subsidiaries
Jin Jiang Hotels Group and
Accounts receivable - - 12,280.00 -
subsidiaries
Accounts receivable Jin Jiang Inn - - 25,984.00 -
Accounts receivable Jinya Catering - - 49,650.07 -
Accounts receivable New Asia Food - - 31,034.09 -
Sub-total 196,575.90 - 1,082,432.64 -
Jin Jiang Hotels Group and
Other receivables 13,427.11 - 45,702.81 -
subsidiaries
Other receivables Jin Jiang Inn 9,268,780.08 - 7,606,414.38 -
Other receivables Hotels Investment 648,423.03 - 474,261.93 -
Other receivables Da Hua Hotel 47,735,046.40 - 47,664,404.70 -
Other receivables Minhang Hotel 25,386,432.78 - 30,556,658.78 -
Other receivables Jin Pan Hotel 1,369,807.71 - 1,369,807.71 -
Other receivables Louvre Asia 8,608,813.82 - 7,948,661.70 -
Other receivables Catering Investment 29,088.33 - 29,088.33 -
Other receivables Jinya Catering 2,400,000.00 - 1,800,000.00 -
Other receivables New Asia Food 22,772.70 - 5,014.50 -
Food and Beverage Serving
Other receivables 3,278,337.51 - 3,278,337.51 -
Equipment
Other receivables Jin Lu Investment - - 2,690,773.41 -
Other receivables Keystone 161,403.10 - - -
Jin Jiang International and
Other receivables 31,105.70 - - -
subsidiaries
Sub-total 98,953,438.27 - 103,469,125.76 -
Interest receivable Finance Company 12,280,000.00 - 9,880,000.00 -
Interest receivable Smartel 295,558.66 - 348,337.00 -
Interest receivable Jinya Catering 4,350.00 - 17,545.00 -
Interest receivable New Asia Food - - 1,063.33 -
Sub-total 12,579,908.66 - 10,246,945.33 -
Other current assets Jinya Catering 4,500,000.00 - 16,500,000.00 -
Other current assets New Asia Food - - 1,000,000.00 -
Sub-total 4,500,000.00 - 17,500,000.00 -
Other non-current
Smartel 280,000,000.00 - 300,000,000.00 -
assets
Sub-total 280,000,000.00 - 300,000,000.00 -
Long-term
New Asia Food 10,328,000.00 - 10,328,000.00 -
receivables
Sub-total 10,328,000.00 - 10,328,000.00 -
- 178 -
SHANGHAI JINJIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS- continued
30. Related party relationships and transactions - continued
(8) Account receivables and payables with related parties - continued
ii) Accounts payable
RMB
Item Related parties 30 June 2017 31 December 2016
Accounts payable Jin Jiang International and subsidiaries 3,778,366.06 3,954,498.36
Accounts payable Jin Jiang Hotels Group and subsidiaries 1,610,000.00 16,369.07
Accounts payable Marvel Hotel Shanghai 920,000.00 -
Sub-total 6,308,366.06 3,970,867.43
Other payables Jin Jiang International and subsidiaries 388,791.55 312,491.04
Other payables Jin Jiang Hotels Group and subsidiaries 496,893.16 996,943.32
Shanghai Jin Jiang International Hotel
Other payables 3,539.79 3,057.39
Commodities Co., Ltd.
Other payables Shanghai Jin Jiang Travel Co., Ltd. - 18,360.00
Other payables Marvel Hotel Shanghai 160,295.30 154,012.40
Other payables Shanghai MAGNOTEL Hotel Co., Ltd. 129,281.20 166,758.65
Other payables Jin Jiang Inn 45,436,608.39 36,189,993.91
Other payables Hotels Investment 5,579,197.93 4,390,709.18
Other payables Minhang Hotel - 19,025.80
Other payables Da Hua Hotel 6,567.87 212,994.99
Other payables Louvre Asia 299,106.78 286,435.53
Other payables Jinya Catering - 2,376.00
Other payables New Asia Food - 13,099.00
Other payables Food and Beverage Serving Equipment 192,935.63 380,451.33
Sub-total 52,693,217.60 43,146,708.54
Interest payable Finance Company - 850,666.67
Interest payable Louvre Asia - 46,750.00
Sub-total - 897,416.67
*** End of Financial Statements ***
- 179 -
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
1. BREAKDOWN OF NON-RECURRING PROFIT OR LOSS FOR THE PERIOD
RMB
For the period from 1 For the period from 1
ITEM January 2017 to 30 June January 2016 to 30 June
2017 2016
Profit (loss) on disposal of non-current assets 939,609.33 6,976,911.56
Tax refunds or reductions or exemptions with ultra vires approval or
- -
without official approval documents
Government grant recognized in profit or loss (other than grants which are
closely related to the enterprise's business and are either in fixed amounts
18,100,017.83 31,026,515.03
or determined under quantitative methods in accordance with the national
standard)
Income earned from lending funds to non-financial institutions and
- -
recognized in profit or loss
The excess of attributable fair value of identifiable net assets over the
consideration paid for the acquisition of subsidiaries, associates and joint - -
ventures
Profit or loss on exchange of non-monetary assets - -
Profit or loss on entrusted investments or assets management - -
Impairment losses on assets due to force majeure events, e.g. natural
- -
disasters
Profit or loss on debt restructuring - -
Entity restructuring expenses, e.g., expenditure for layoff of employees,
- -
integration expenses, etc.
Profit or loss attributable to the evidently unfair portion of transaction
price, being transacted price in excess of fair transaction price of a - -
transaction
Net profit or loss of subsidiaries from the beginning of the period up to
the business combination date recognized as a result of business - -
combination of enterprises under common control
Profit or loss arising from contingencies other than those related to normal
- -
operating business
Profit or loss on changes in the fair value of financial assets at fair value
through profit or loss and held-for-trading financial liabilities, and
investment income on disposal of financial assets at fair value through
86,659,256.47 206,373,718.01
profit or loss, held-for-trading financial liabilities and available-for-sale
financial assets, other than those used in the effective hedging activities
relating to normal operating business
Reversal of provision for accounts receivable that are tested for
- -
impairment losses individually
Profit or loss on entrusted loans - -
Profit or loss on changes in the fair value of investment properties that are
- -
subsequently measured using the fair value model
Effects on profit or loss of one-off adjustment to profit or loss for the
period according to the requirements of tax laws and accounting laws and 111,688,518.33 -
regulations
Custodian fees earned from entrusted operation - -
Other non-operating income or expenses other than the above items 2,314,022.83 22,040,481.29
Gains from disposal of subsidiaries 33,507,766.71 -
Other profit or loss that meets the definition of non-recurring profit or loss - -
Tax effects (37,613,303.06) (68,946,410.81)
Effects attributable to minority interests (after tax) (2,604,202.08) (941.94)
Total 212,991,686.36 197,470,273.14
Preparation basis of the breakdown of non-recurring profit or loss
According to "Explanatory Notice No. 1 of Information Disclosure for Public Offering Securities – Non-recurring Profit
and Loss [2008]" issued by China Securities Regulatory Commission, non-recurring profit or loss is arising from the
transactions or events that is not directly related to daily operations, or the transactions or events associated with normal
operations but may affect the investors proper judgments on the performance and profitability of the Company for
because special and incidental nature.
180
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
2. RETURN ON NET ASSETS AND EARNINGS PER SHARE ("EPS")
The return rate on net assets and EPS have been prepared by Shanghai Jinjiang International Hotels Development Co.,
Ltd ("JJ ") in accordance with Information Disclosure and Presentation Rules for Companies Making Public Offering of
Securities No. 9 – Calculation and Disclosure of Return on Net Assets and Earnings per Share (Revised 2012) issued by
China Securities Regulatory Commission.
RMB
Weighted average Earnings per share
Weighted average
return rate on net
assets net assets Basic EPS Diluted EPS (Note)
Profit for the reporting period (%) (RMB)
Net profit attributable to ordinary equity holders
3.22 12,820,208,747.29 0.4306 N/A
of the Company
Net profit attributable to ordinary equity holders
of the Company after deducting non-recurring 1.56 12,820,208,747.29 0.2082 N/A
profit and loss
Note: The Company has no diluted potential ordinary shareholders.
181
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
3. Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
The Company prepared accompanying summarized financial statements and room services statement of segments of
limited service hotels for the purpose to make it user-friendly for the financial statements users to read and compare
figures in the movements of assets and liabilities on 30 June 2017 and 31 December 2016, and the operating results, cash
flows and segments room services of limited service hotels for the period from 1 January 2017 to 30 June 2017 and 1
January 2016 to 30 June 2016. The summarized financial statements and room services statement of segments of limited
service hotels dose not offset the balances of transactions between business segments of limited service hotels and other
business segments of the Company and the following statements are only for reference to the financial statement users.
Summarized Balance Sheet of Segments of Limited Service Hotels
RMB
ITEM 30 June 2017 31 December 2016 ITEM 30 June 2017 31 December 2016
Current Assets: Current liabilities:
Cash and bank balances 3,902,767,042.26 3,578,128,066.16 Short-term borrowings 23,177,065.36 927,927,127.66
Derivative financial assets - - Derivative financial liabilities 5,175,221.63 6,158,207.57
Notes receivable - - Notes payable - -
Accounts receivable 871,445,354.72 617,362,882.35 Accounts payable 1,908,447,484.88 2,001,592,100.05
Advance from suppliers 263,031,064.46 309,059,260.65 Receipts in advance 710,551,993.00 667,206,082.69
Interest receivable 1,246,431.69 1,527,160.43 Employee benefits payable 715,015,963.38 645,973,422.45
Dividends receivable 583,606.88 549,887.85 Taxes payable 388,470,962.47 320,133,016.19
Other receivables 490,354,796.13 452,587,227.17 Interest payable 15,522,012.35 14,065,948.36
Inventories 67,323,207.10 72,689,514.36 Dividends payable 131,733,120.00 -
Non-current liabilities due
9,247,960.85 9,000,000.00 Other payables 1,175,807,523.49 922,916,840.47
within one year
Non-current liabilities due within
Other current assets 269,316,639.34 300,917,664.84 6,056,689,598.17 2,955,199,327.56
one year
Total current assets 5,875,316,103.43 5,341,821,663.81 Other current liabilities - -
Total current liabilities 11,130,590,944.73 8,461,172,073.00
Non-current assets: Non-current liabilities:
Available-for-sale financial
548,777,912.60 548,799,612.46 Long-term borrowings 5,510,325,523.38 7,430,470,530.53
assets
Held-to-maturity investments - - Long-term payables 151,164,139.83 145,511,003.10
Long-term receivables - - Long-term employee benefits 57,686,524.56 49,009,564.56
Long-term equity investments 141,171,892.89 110,604,449.99 Provisions 32,440,189.51 49,921,877.75
Investment properties - - Deferred tax liabilities 2,288,141,983.10 2,360,410,176.66
Fixed assets 6,828,279,395.75 6,754,616,910.19 Other non-current liabilities 160,364,082.58 117,626,648.42
Construction in progress 577,417,406.14 671,575,784.78 Non-current liabilities 8,200,122,442.96 10,152,949,801.02
Materials for construction of
- - Total liabilities 19,330,713,387.69 18,614,121,874.02
fixed assets
Disposal of fixed assets - - Shareholders' equity:
Bearer biological assets - - Share capital 3,166,586,811.68 3,166,586,811.68
Oil and gas assets - - Capital reserve 4,111,461,597.90 4,111,461,597.90
Intangible assets 7,388,101,196.83 7,329,977,249.15 Other comprehensive income (360,344,018.73) (411,719,453.74)
Development expenditure - - Surplus reserve 135,917,315.79 135,917,315.79
Goodwill 11,370,524,107.39 10,914,544,764.35 Retained profits 3,496,304,224.75 3,317,109,248.98
Capital allocated from the
Long-term prepaid expenses 2,874,807,236.78 2,975,504,530.48 5,888,566,417.75 5,866,332,590.30
Company
Total owners' equity attributable to
Deferred tax assets 618,375,660.93 549,835,761.49 16,438,492,349.14 16,185,688,110.91
segments of limited service hotels
Other non-current assets 83,039,556.26 85,242,307.80 Minority interests 536,604,732.17 482,713,049.57
TOTAL SHAREHOLDERS'
Total non-current assets 30,430,494,365.57 29,940,701,370.69 16,975,097,081.31 16,668,401,160.48
EQUITY
TOTAL LIABILITIES AND
TOTAL ASSETS 36,305,810,469.00 35,282,523,034.50 36,305,810,469.00 35,282,523,034.50
SHAREHOLDERS' EQUITY
182
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
3. Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
-continued
Summarized Income Statement of Segments of Limited Service Hotels
RMB
For the period from 1 January For the period from 1 January
ITEM
2017 to 30 June 2017 2016 to 30 June 2016
I. Total operating income 6,164,466,726.67 4,247,333,545.83
Self-owned and rented hotels 4,710,202,080.96 3,456,018,952.02
Franchised and managed hotels 1,454,264,645.71 791,314,593.81
Total operating income 6,164,466,726.67 4,247,333,545.83
Less: taxes and levies 106,316,874.41 78,612,621.84
Net operating income 6,058,149,852.26 4,168,720,923.99
Operating costs and expenses:
Costs for Self-owned and rented hotels
Rental 910,716,713.20 621,598,207.41
Energy 299,107,063.39 268,182,518.10
Labor cost 1,165,210,471.38 902,870,596.38
Depreciation 350,258,922.88 283,238,691.94
Amortization 356,110,739.73 277,191,154.04
Consumptions, food and beverage 265,748,967.96 196,520,473.85
Others 1,026,357,684.92 665,456,442.60
Total costs for self-owned and rented hotels 4,373,510,563.46 3,215,058,084.32
Sales and marketing expenses 332,647,475.09 102,022,429.16
Labor cost for management of franchised hotels 234,564,852.45 27,018,678.90
General administrative and management expenses 669,845,847.96 534,480,546.05
Start-up expenses 7,380,847.51 8,640,545.22
Total operating costs and expenses 5,617,949,586.47 3,887,220,283.65
II. Operating profit 440,200,265.79 281,500,640.34
Interest income 10,269,901.35 7,807,830.74
Interest expenses 110,451,181.55 111,936,969.88
Other non-operating income 83,464,577.43 65,302,444.82
Other non-operating expenses 26,599,200.48 13,220,494.11
III. Total profit 396,884,362.54 229,453,451.91
Income tax expenses 17,367,822.62 92,754,722.69
IV. Net profit 379,516,539.92 136,698,729.22
Less: Minority interests 38,704,240.75 4,909,829.90
Net profit attributable to segments of limited service
340,812,299.17 131,788,899.32
hotels
183
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
3. Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
-continued
Summarized Cash Flow Statement of Segments of Limited Service Hotels
RMB
For the period from 1
For the period from 1 January
ITEM January 2017 to 30 June
2016 to 30 June 2016
2017
I. Cash Flows from Operating Activities:
Cash receipts from the sale of goods and the rendering
6,310,052,342.85 4,319,707,031.13
of services
Receipts of tax refunds 4,473,060.00 15,952,197.30
Other cash receipts relating to operating activities 142,436,051.50 28,213,153.86
Sub-total of cash inflows from operating activities 6,456,961,454.35 4,363,872,382.29
Cash payments for goods purchased and
1,345,924,096.37 943,718,802.54
services received
Cash payments to and on behalf of employees 1,891,377,202.95 1,258,248,081.80
Payments of various types of taxes 422,627,680.43 268,756,209.82
Other cash payments relating to operating activities 1,434,535,861.36 1,025,864,132.50
Sub-total of cash outflows from operating activities 5,094,464,841.11 3,496,587,226.66
Net Cash Flow from Operating Activities 1,362,496,613.24 867,285,155.63
II. Cash Flows from Investing Activities:
Cash receipts from disposals and recovery
61,993,884.56 60,983,718.70
of investments
Cash receipts from investment income 2,699,406.95 4,242,857.82
Net cash receipts from disposals of fixed assets,
10,391,618.59 8,790,807.52
intangible assets and other long-term assets
Net cash receipts from disposals of subsidiaries
725,901.20 -
and other business units
Other cash receipts relating to investing activities 45,000,000.00 -
Sub-total of cash inflows from investing activities 120,810,811.30 74,017,384.04
Cash payments for acquisitions of subsidiaries and
243,782,874.09 138,888,388.73
other business units
Cash payments for disposal of subsidiaries and 689,279.31 -
other business units
Cash payments to acquire or construct fixed assets,
477,916,946.72 410,450,314.22
intangible assets and other long-term assets
Cash payments to acquire investments 1,150,002.00 54,375,457.62
Other cash payments relating to investing activities - 27,689,331.20
Sub-total of cash outflows from investing activities 723,539,102.12 631,403,491.77
Net Cash Flow from Investing Activities (602,728,290.82) (557,386,107.73)
III. Cash Flows from Financing Activities
Cash receipts from capital contributions - 22,538,570.00
Including: cash receipts from capital contributions
- 22,538,570.00
from minority owners of subsidiaries
Cash receipts from borrowings 4,663,431,860.49 1,200,000,000.00
Other cash receipts relating to financing activities 40,146,122.08 131,146,460.95
Sub-total of cash inflows from financing activities 4,703,577,982.57 1,353,685,030.95
Cash repayments of borrowings 4,977,456,566.03 1,412,341,287.62
Cash payments for distribution of dividends or profits
143,246,630.61 130,811,216.56
or settlement of interest expenses
Including: payments for distribution of dividends or
1,425,231.93 236,043.43
profits to minority owners of subsidiaries
Other cash payments relating to financing activities 61,533,494.72 47,891,718.93
Sub-total of cash outflows from financing activities 5,182,236,691.36 1,591,044,223.11
Net Cash Flow from Financing Activities (478,658,708.79) (237,359,192.16)
IV. Effect of Foreign Exchange Rate Changes on Cash
50,489,914.91 30,054,183.36
and Cash Equivalents
V. Net Increase in Cash and Cash Equivalents 331,599,528.54 102,594,039.10
Add: Opening balance of Cash and Cash Equivalents 3,564,047,289.77 2,832,704,093.93
VI. Closing Balance of Cash and Cash Equivalents 3,895,646,818.31 2,935,298,133.03
184
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
3. Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
-continued
EBITDA Statement of Segments of Limited Service Hotels
RMB
For the period from 1
For the period from 1 January
ITEM January 2017 to 30 June
2016 to 30 June 2016
2017
Net profit attributable to segments of limited service
340,812,299.17 131,788,899.32
hotels
Interest income 10,269,901.35 7,807,830.74
Interest expenses 110,451,181.55 111,936,969.88
Income tax expenses 17,367,822.62 92,754,722.69
Depreciation 363,075,486.52 286,547,481.66
Amortization 402,802,360.19 281,232,205.65
EBITDA 1,224,239,248.70 896,452,448.46
Share of operating income for EBITDA (%) 19.86 21.11
Exchange gains or losses (6,258,956.31) (83,226.72)
Start-up expenses 7,380,847.51 8,640,545.22
Adjusted EBITDA 1,237,879,052.52 905,176,220.40
Adjusted share of operating income for EBITDA (%) 20.08 21.31
Costs and Expenses of Segments of Limited Service Hotels
RMB
For the period from 1 January 2017 to 30 June
For the period from 1 January 2016 to 30 June 2016
2017
ITEM
Share of operating Share of operating
Amount Amount
income (%) income (%)
Operating income 6,164,466,726.67 100.00 4,247,333,545.83 100.00
Hotels operating costs 4,373,510,563.46 70.94 3,215,058,084.32 75.70
Sales and marketing expenses 332,647,475.09 5.40 102,022,429.16 2.40
Labor cost for management
234,564,852.45 3.81 27,018,678.90 0.64
of franchised hotels
General administrative and
669,845,847.96 10.86 534,480,546.05 12.58
management expenses
Start-up expenses 7,380,847.51 0.12 8,640,545.22 0.20
Total operating costs and
5,617,949,586.47 91.13 3,887,220,283.65 91.52
expenses
185
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
3. Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
-continued
Hotel Operating Data of Jin Jiang Metropolo, Jin Jiang Inn, Goldmet Inn and Bestay Hotel Express (Quarter II）)
As of 30 June 2016 As of 31 March 2017 As of 30 June 2017
Total hotels in operation:
Leased-and-operated hotels 282 289 290
Franchised-and-managed hotels 820 875 892
In total 1,102 1,164 1,182
Total hotel rooms in operation:
Leased-and-operated hotels 38,885 40,019 40,011
Franchised-and-managed hotels 92,037 97,564 99,355
In total 130,922 137,583 139,366
Total hotels including
pre-opening:
Leased-and-operated hotels 309 308 311
Franchised-and-managed hotels 1,058 1,085 1,098
In total 1,367 1,393 1,409
Total rooms including
pre-opening:
Leased-and-operated hotels 43,018 42,813 43,200
Franchised-and-managed hotels 115,888 118,861 120,388
In total 158,906 161,674 163,588
Apr to Jun 2016 Jan to Mar 2017 Apr to Jun 2017
Occupancy rate (as a percentage)
Leased-and-operated hotels 77.49 70.93 79.60
Franchised-and-managed hotels 78.05 71.80 79.92
In total 77.88 71.54 79.82
Average daily room rate (in
RMB)
Leased-and-operated hotels 193.05 187.57 197.46
Franchised-and-managed hotels 183.57 176.91 184.36
In total 186.43 180.07 188.26
RevPAR (in RMB/room)
Leased-and-operated hotels 149.59 133.04 157.18
Franchised-and-managed hotels 143.28 127.02 147.34
In total 145.19 128.82 150.27
186
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
3. Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
-continued
Hotel operating data of Lavande Hotels, James Joyce Coffetel, IU, 7 Days Hotels
and other brands of Plateno Group (Quarter II)
As of 30 June 2016 As of 31 March 2017 As of 30 June 2017
Total hotels in operation:
Leased-and-operated hotels 482 472 454
Franchised-and-managed hotels 2,312 2,661 2,804
In total 2,794 3,133 3,258
Total hotel rooms in operation:
Leased-and-operated hotels 49,884 48,717 46,923
Franchised-and-managed hotels 191,648 213,900 223,178
In total 241,532 262,617 270,101
Total hotels including
pre-opening:
Leased-and-operated hotels 492 488 481
Franchised-and-managed hotels 3,191 3,801 4,090
In total 3,683 4,289 4,571
Total rooms including
pre-opening:
Leased-and-operated hotels 50,830 50,798 50,008
Franchised-and-managed hotels 261,243 309,846 335,472
In total 312,073 360,644 385,480
Apr to Jun 2016 Jan to Mar 2017 Apr to Jun 2017
Occupancy rate (as a
percentage)
Leased-and-operated hotels 87.35 72.47 82.17
Franchised-and-managed hotels 82.83 76.76 81.96
In total 83.80 75.94 81.99
Average daily room rate (in
RMB)
Leased-and-operated hotels 143.82 151.48 150.23
Franchised-and-managed hotels 148.71 157.01 156.29
In total 147.62 156.04 155.20
RevPAR (in RMB/room)
Leased-and-operated hotels 125.63 109.78 123.44
Franchised-and-managed hotels 123.18 120.52 128.10
In total 123.71 118.50 127.25
187
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
3. Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
-continued
Hotel Operating Data of Vienna Royal, Vienna International, Vienna Hotel, Vienna Classic Hotel
and Vienna 3 Best Hotel (Quarter II)
As of 31 March 2017 As of 30 June 2017
Total hotels in operation:
Leased-and-operated hotels 51 51
Franchised-and-managed hotels 476 530
In total 527 581
Total hotel rooms in operation:
Leased-and-operated hotels 12,460 12,460
Franchised-and-managed hotels 70,919 79,200
In total 83,379 91,660
Total hotels including pre-opening:
Leased-and-operated hotels 56 57
Franchised-and-managed hotels 1,006 1,225
In total 1,062 1,282
Total rooms including pre-opening:
Leased-and-operated hotels 14,039 14,399
Franchised-and-managed hotels 143,015 172,047
In total 157,054 186,446
Jan to Mar 2017 Apr to Jun 2017
Occupancy rate (as a percentage)
Leased-and-operated hotels 89.67 96.94
Franchised-and-managed hotels 83.03 89.26
In total 84.05 90.36
Average daily room rate (in RMB)
Leased-and-operated hotels 269.23 277.68
Franchised-and-managed hotels 230.32 235.91
In total 236.69 242.32
RevPAR (in RMB/room)
Leased-and-operated hotels 241.42 269.18
Franchised-and-managed hotels 191.24 210.57
In total 198.94 218.96
188
SUPPLEMENTARY INFORMATION
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
3. Summarized Financial Statements and Room Services Statement of Segments of Limited Service Hotels
-continued
Hotel Operating Data of Première Classe, Campanile, Kyriad Hotels and Golden Tulip Hotels (Quarter II)
As of 30 June 2016 As of 31 March 2017 As of 30 June 2017
Total hotels in operation:
Leased-and-operated hotels 280 283 282
Franchised-and-managed hotels 903 997 994
In total 1,183 1,280 1,276
Total hotel rooms in operation:
Leased-and-operated hotels 21,322 21,686 21,528
Franchised-and-managed hotels 77,961 86,477 86,432
In total 99,283 108,163 107,960
Total hotels including
pre-opening:
Leased-and-operated hotels 282 287 283
Franchised-and-managed hotels 960 1,058 1,057
In total 1,242 1,345 1,340
Total rooms including
pre-opening:
Leased-and-operated hotels 21,598 22,325 21,651
Franchised-and-managed hotels 86,744 94,833 93,092
In total 108,342 117,158 114,743
Apr to Jun 2016 Jan to Mar 2017 Apr to Jun 2017
Occupancy rate (as a percentage)
Leased-and-operated hotels 72.77 61.61 73.72
Franchised-and-managed hotels 61.16 55.31 64.70
In total 63.92 56.57 66.01
Average daily room rate (in EUR)
Leased-and-operated hotels 56.20 51.45 54.76
Franchised-and-managed hotels 60.63 61.09 61.30
In total 59.43 56.90 57.56
RevPAR (in EUR/room)
Leased-and-operated hotels 40.90 31.70 40.37
Franchised-and-managed hotels 37.08 33.79 39.66
In total 37.99 32.19 38.00
189